Cristo Rey Richmond High School Inc
- Assets
- $16.4m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 71
- Location
- Richmond, VA
- Founding
- 12/2016
- Data as of
- 06/2023
- EIN
- 81-2742073
Organization Overview
Cristo Rey Richmond High School Inc is located in Richmond, VA. The organization was established in 2016. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2023, Cristo Rey Richmond High School Inc employed 71 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cristo Rey Richmond High School Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Cristo Rey Richmond High School Inc generated $5.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.2% each year . All expenses for the organization totaled $5.0m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
A CATHOLIC LEARNING COMMUNITY THAT EDUCATES YOUNG PEOPLE OF LIMITED ECONOMIC MEANS TO BECOME PEOPLE OF FAITH, PURPOSE AND SERVICE. THROUGH A RIGOROUS COLLEGE PREPARATORY CURRICULUM, INTEGRATED WITH A RELEVANT WORK STUDY EXPERIENCE, STUDENTS GRADUATE READY TO SUCCEED IN COLLEGE AND LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL CRISTO REY SCHOOLS INCORPORATE A UNIQUE CORPORATE WORK STUDY PROGRAM THAT PREPARES STUDENTS FROM FAMILIES OF LIMITED ECONOMIC MEANS FOR COLLEGE AND BEYOND. PAYMENTS FROM THE CORPORATE WORK STUDY PARTNERS PARTIALLY OFFSET THE COST OF THE STUDENTS' EDUCATION. THOUGH THE CORPORATE WORK STUDY PROGRAM IS A SEPARATE 501(C)(3) ENTITY THAT FILES A SEPARATE 990, ALL OF THE EXPENSES RELATED TO BOTH THE ACADEMIC PROGRAM AND THE CORPORATE WORK STUDY PROGRAM ARE INCURRED BY THE SCHOOL. MAJOR PROGRAM EXPENDITURES INCLUDE: - SALARIES AND BENEFITS OF BOTH THE ACADEMIC FACULTY AND ADMINISTRATION AND THE CORPORATE WORK STUDY STAFF- STUDENT MEAL PROGRAM THAT PROVIDES BREAKFAST AND LUNCH DAILY AT NO COST TO THE STUDENTS- STUDENT PROGRAMS/SUPPLIES INCLUDING COMPUTERS, TEXTBOOKS, UNIFORMS, WORK STUDY TRAINING, ATHLETICS/EXTRACURRICULAR ACTIVITIES- FACILITY IMPROVEMENTS AND MAINTENANCE- TRANSPORTATION COSTS FOR STUDENTS
WORK-STUDY PROGRAM - ALL STUDENTS OF THE SCHOOL ARE REQUIRED TO PARTICIPATE IN THE WORK-STUDY PROGRAM. THE PROGRAM PROVIDES STUDENTS VALUABLE EMPLOYMENT TRAINING AND ON-THE-JOB EXPERIENCE IN ADDITION TO A REDUCTION IN THEIR TUITION AT THE SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Quinn Board President | OfficerTrustee | 5 | $0 |
Alma Showalter Board Treasurer | OfficerTrustee | 2 | $0 |
Edward Gerardo Board Secretary | OfficerTrustee | 2 | $0 |
Christopher Habenicht Chair-Emeritus | Trustee | 1 | $0 |
Tom Benedetti Director | Trustee | 1 | $0 |
Camille Blanchard Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bon Secours Employee Lease | 6/29/21 | $162,240 |
Mdsc Services Food Services | 6/29/21 | $103,737 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,131,600 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,277,758 |
| Noncash contributions included in lines 1a–1f | $141,793 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,409,358 |
| Total Program Service Revenue | $221,606 |
| Investment income | $1,246 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $30,550 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,662,760 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $336,154 |
| Compensation of current officers, directors, key employees. | $42,529 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,304,671 |
| Pension plan accruals and contributions | $46,222 |
| Other employee benefits | $139,947 |
| Payroll taxes | $190,990 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $292,270 |
| Advertising and promotion | $16,134 |
| Office expenses | $6,735 |
| Information technology | $41,490 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $143,263 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $458,298 |
| Insurance | $35,936 |
| All other expenses | $360,549 |
| Total functional expenses | $4,962,585 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $185,071 |
| Savings and temporary cash investments | $829,966 |
| Pledges and grants receivable | $2,055,339 |
| Accounts receivable, net | $450,783 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $32,651 |
| Net Land, buildings, and equipment | $12,800,024 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,353,834 |
| Accounts payable and accrued expenses | $424,912 |
| Grants payable | $0 |
| Deferred revenue | $26,610 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $15,524 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,756,134 |
| Total liabilities | $8,223,180 |
| Net assets without donor restrictions | $6,437,619 |
| Net assets with donor restrictions | $1,693,035 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $16,353,834 |