Midland School Corporation
- Assets
- $37.9m
- Revenue
- $8.3m
- Investments
- $0.0
- Employees
- 56
- Location
- Los Olivos, CA
- Founding
- 03/1942
- Data as of
- 06/2023
- EIN
- 95-1684072
Organization Overview
Midland School Corporation is located in Los Olivos, CA. The organization was established in 1942. 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, Midland School Corporation employed 56 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midland School Corporation 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, Midland School Corporation generated $8.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $6.8m during the year ending 06/2023. While expenses have increased by 3.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
MIDLAND SCHOOL PROVIDES A DISTINCTIVE CO-EDUCATIONAL BOARDING SCHOOL (SEE SCHEDULE O) EXPERIENCE TO A DIVERSE STUDENT BODY IN GRADES 9-12. THROUGH STUDY AND WORK, MIDLAND TEACHES THE VALUE OF A LIFETIME OF LEARNING, SELF-RELIANCE, SIMPLICITY, RESPONSIBILITY TO COMMUNITY AND A LOVE FOR THE OUTDOORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MIDLAND SCHOOL, LOCATED ON A 2,860-ACRE RANCH AT THE EDGE OF THE LOS PADRES NATIONAL FOREST IN SANTA BARBARA COUNTY, HAS BEEN THE LEADER OF PLACE-BASED EDUCATION SINCE 1932. EVERYTHING WE DO-FROM THE COURSES WE CHOOSE TO TEACH TO HOW WE MAINTAIN OUR CAMPUS TO THE WAY WE FEED OURSELVES-ORIGINATES FROM AN INTENTIONAL CURRICULUM THAT FOCUSES NOT ONLY ON COLLEGE PREPARATORY CLASSES, BUT ALSO ON LEADERSHIP, COMMUNITY, AND STEWARDSHIP. OUR SCALE EMPOWERS STUDENTS WITH AUTHENTIC LEADERSHIP OPPORTUNITIES, PROVIDES HIGHLY PERSONALIZED LEARNING, AND INSPIRES THE PURSUIT OF INTELLECTUAL PASSIONS. AT MIDLAND, THIRTY-SEVEN PERCENT OF OUR STUDENTS IDENTIFY AS STUDENTS OF COLOR, OVER HALF RECEIVE GENEROUS FINANCIAL AID TO ATTEND, AND THE DEPTH OF OUR BOARDING EXPERIENCE FACILITATES BOTH TOP-TIER COLLEGE ADMISSIONS AND FUTURE SUCCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edwin S Friendly III Trustee | Trustee | 2 | $0 |
Peter Schuyler Trustee | Trustee | 2 | $0 |
Tom Mone President/chair | OfficerTrustee | 5 | $0 |
Dee Hodge III Secretary | OfficerTrustee | 2 | $0 |
Justene Hill Edwards Trustee | Trustee | 2 | $0 |
Peter Ewing Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bevyhouse Llc Construction | 6/29/23 | $2,561,721 |
Frank Schipper Construction Company Construction | 6/29/23 | $732,631 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,288,354 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,288,354 |
| Total Program Service Revenue | $5,684,388 |
| Investment income | $432,881 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $940,183 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,345,806 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,449,519 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $378,923 |
| Compensation of current officers, directors, key employees. | $347,445 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,150,233 |
| Pension plan accruals and contributions | $126,877 |
| Other employee benefits | $244,263 |
| Payroll taxes | $170,451 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,586 |
| Fees for services: Accounting | $52,166 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $82,807 |
| Fees for services: Other | $231,746 |
| Advertising and promotion | $55,171 |
| Office expenses | $59,351 |
| Information technology | $99,331 |
| Royalties | $0 |
| Occupancy | $143,885 |
| Travel | $41,780 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,377 |
| Interest | $38,895 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $383,019 |
| Insurance | $320,240 |
| All other expenses | $235,220 |
| Total functional expenses | $6,820,323 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,193,521 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $550,439 |
| 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 | $209,065 |
| Net Land, buildings, and equipment | $15,676,081 |
| Investments—publicly traded securities | $15,224,990 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $37,854,096 |
| Accounts payable and accrued expenses | $519,909 |
| Grants payable | $0 |
| Deferred revenue | $2,602,996 |
| 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 | $3,975,005 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,097,910 |
| Net assets without donor restrictions | $17,919,434 |
| Net assets with donor restrictions | $12,836,752 |
| 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 | $37,854,096 |