Civic Intelligence

Winsor School Inc.

990 • Fiscal year 2017 • EIN 04-2105842

Jul 01, 2016 to Jun 30, 2017 • Filed on May 11, 2018

103 Pilgrim RoadBoston, MA 02215

(617) 735-9519

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

42nd percentile

0.24x

Higher debt load relative to assets than 42% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Liabilities / Revenue

79th percentile

1.52x

Higher debt load relative to revenue than 79% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Net Margin

28th percentile

-0.6%

Higher net margin than 28% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

75th percentile

$868,709

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Asset Growth

33rd percentile

2.3%

Faster asset growth than 33% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Revenue Growth

7th percentile

-25%

Faster revenue growth than 7% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Assets

Up

$188,898,839

Up $4,198,757 (+2.3%) from 2016

Net Assets

Up

$143,623,341

Up $4,959,488 (+3.6%) from 2016

Liabilities

Down

$45,275,498

Down $760,731 (-1.7%) from 2016

Revenue

Down

$29,860,589

Down $9,765,970 (-25%) from 2016

Expenses

Up

$30,032,240

Up $612,602 (+2.1%) from 2016

Net Income

Down

-$171,651

Down $10,378,572 (-102%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300M$200M$100M$0Assets 2010: $81,936,304Liabilities 2010: $2,829,474Net Assets 2010: $79,106,8302010Assets 2011: $90,491,789Liabilities 2011: $3,026,827Net Assets 2011: $87,464,9622011Assets 2012: $92,853,581Liabilities 2012: $3,134,774Net Assets 2012: $89,718,8072012Assets 2013: $112,399,628Liabilities 2013: $6,112,333Net Assets 2013: $106,287,2952013Assets 2014: $140,301,229Liabilities 2014: $17,281,393Net Assets 2014: $123,019,8362014Assets 2015: $176,171,831Liabilities 2015: $44,807,533Net Assets 2015: $131,364,2982015Assets 2016: $184,700,082Liabilities 2016: $46,036,229Net Assets 2016: $138,663,8532016Assets 2017: $188,898,839Liabilities 2017: $45,275,498Net Assets 2017: $143,623,3412017Assets 2018: $191,008,981Liabilities 2018: $45,166,055Net Assets 2018: $145,842,9262018Assets 2019: $191,185,427Liabilities 2019: $44,674,312Net Assets 2019: $146,511,1152019Assets 2020: $197,378,377Liabilities 2020: $45,213,194Net Assets 2020: $152,165,1832020Assets 2021: $217,305,625Liabilities 2021: $45,713,732Net Assets 2021: $171,591,8932021Assets 2022: $205,428,029Liabilities 2022: $45,792,411Net Assets 2022: $159,635,6182022Assets 2023: $217,791,031Liabilities 2023: $46,102,080Net Assets 2023: $171,688,9512023Assets 2024: $235,065,316Liabilities 2024: $46,764,835Net Assets 2024: $188,300,4812024

Highlighted filing

2017

Assets$188,898,839
Liabilities$45,275,498
Net Assets$143,623,341

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0-$20MExpenses 2010: $18,989,6842010Expenses 2011: $19,873,8862011Expenses 2012: $20,766,5002012Revenue 2013: $32,381,779Expenses 2013: $21,144,289Net Income 2013: $11,237,4902013Revenue 2014: $31,994,014Expenses 2014: $21,888,020Net Income 2014: $10,105,9942014Revenue 2015: $40,040,968Expenses 2015: $24,625,055Net Income 2015: $15,415,9132015Revenue 2016: $39,626,559Expenses 2016: $29,419,638Net Income 2016: $10,206,9212016Revenue 2017: $29,860,589Expenses 2017: $30,032,240Net Income 2017: -$171,6512017Revenue 2018: $31,271,817Expenses 2018: $31,204,419Net Income 2018: $67,3982018Revenue 2019: $29,604,959Expenses 2019: $32,180,806Net Income 2019: -$2,575,8472019Revenue 2020: $34,533,035Expenses 2020: $31,569,131Net Income 2020: $2,963,9042020Revenue 2021: $31,356,069Expenses 2021: $34,061,666Net Income 2021: -$2,705,5972021Revenue 2022: $35,378,884Expenses 2022: $36,724,348Net Income 2022: -$1,345,4642022Revenue 2023: $39,776,141Expenses 2023: $37,336,222Net Income 2023: $2,439,9192023Revenue 2024: $41,191,727Expenses 2024: $40,483,316Net Income 2024: $708,4112024

Highlighted filing

2017

Revenue$29,860,589
Expenses$30,032,240
Net Income-$171,651
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 11, 2018
Return Version
2016v3.0
Gross Receipts
$32,475,125
Mission and Program Overview

Mission

The winsor school is dedicated to developing the individual talents of academically promising and motivated girls in grades five through twelve.its rigorous academic curriculum is complemented by strong offerings in the arts and physical education. The school helps students build a foundation of skills and knowledge to serve as a lifelong base for independent thinking, problem solving, creativity, and wise decision-making.winsor students are expected to pursue academic and personal excellence and to show concern and respect for others, for the community of the school, and for the world in which they live. They are encouraged by a dedicated and caring faculty to develop confidence in all areas of study, to express themselves effectively, to become leaders, and to face challenges with courage and integrity.committed to diversity in its student body and faculty and to an inclusive curriculum, the school fosters an appreciation of individual and cultural differences.

The winsor school provides college preparatory instruction to girls in grades five through twelve.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$103,419,930$103,669,424▲ $249,494
Investments Other Securities$43,744,140$48,978,343▲ $5,234,203
Savings and Temporary Cash Investments$13,279,906$15,429,915▲ $2,150,009
Investments in Publicly Traded Securities$15,483,274$14,288,688▼ $1,194,586
Pledges and Grants Receivable$6,520,251$4,907,930▼ $1,612,321
Prepaid Expenses and Deferred Charges$1,792,246$1,265,163▼ $527,083
Accounts Receivable$403,981$308,210▼ $95,771
Inventories for Sale or Use$56,354$51,166▼ $5,188
Total Assets$184,700,082$188,898,839▲ $4,198,757
Liabilities
Tax Exempt Bond Liabilities$39,752,125$39,761,305▲ $9,180
Accounts Payable and Accrued Expenses$3,187,146$2,958,798▼ $228,348
Deferred Revenue$1,142,183$1,403,671▲ $261,488
Other Liabilities$1,954,775$1,151,724▼ $803,051
Total Liabilities$46,036,229$45,275,498▼ $760,731
Net Assets / Fund Balance
Unrestricted Net Assets$87,886,183$91,380,058▲ $3,493,875
Temporarily Rstr Net Assets$24,768,022$26,200,786▲ $1,432,764
Permanently Rstr Net Assets$26,009,648$26,042,497▲ $32,849
Total Net Assets Fund Balance$138,663,853$143,623,341▲ $4,959,488
Total Liabilities and Net Assets / Fund Balance$184,700,082$188,898,839▲ $4,198,757

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$93,208,795$15,127,268$108,336,063
Equipment$7,554,088$6,510,700$14,064,788
Other Land Buildings$1,757,797-$1,757,797
Land$1,148,744-$1,148,744
Other Securities$231,370--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$59,004,538$167,454▲ $6,732,497$2,868,828$63,035,661
2015$70,278,903$2,031,888▼ $923,727$12,382,526$59,004,538
2014$71,562,805$613,193▲ $1,015,764$2,912,859$70,278,903
2013$64,218,632$1,375,472▲ $11,139,800$5,171,099$71,562,805
2012$58,363,465-▲ $8,134,759$2,279,592$64,218,632
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rachel F Stettlerformer head of school-until 6/30/16FT$221,227$647,482$868,709
nancy s skinnerchief advancement officerFT$247,229$35,733$282,962
Richard s Bernascochief financial officerFT$215,304$51,235$266,539
Sarah pelmashead of schoolFT$155,128$99,841$254,969
kate m a casperassociate head of schoolFT$176,194$12,126$188,320
karen gerominiDirector of operations & auxilFT$141,470$35,837$177,307
john n cromptonDirector of facilities & constFT$135,700$41,224$176,924
elizabeth g kellyhead of lower schoolFT$141,223$29,463$170,686
ridie markensonhead of upper schoolFT$143,592$19,659$163,251

Highest Paid Contractors

ContractorServicesLocationCompensation
lee kennedy company incconstruction services122 quincy shore drive, quincy, MA 02171$8,925,225
flik Compass Group USAfood servicespo box 417632, boston, MA 02241$724,945
george t wilkinson incheating services405 vfw drive 1, rockland, MA 02370$425,275
old english cleaning servicescleaning services6 oldham road, newton, MA 02465$396,955
first student incbus services15 york ave, randolph, MA 02368$298,251
Revenue and Support

Revenue Composition

Contributions and Grants
$6,103,550
Program Service Revenue
$20,815,196
Investment Income
$2,251,500
Other Revenue
$690,343
All Other Contributions
$6,103,550
Change in Net Assets
$-171,651

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded64$792,896Fair Market Value (FMV)
Total Noncash Contributions64$792,896-

Audited Revenue Reconciliation

Revenue per Audited Statements
$25,563,328
Revenue Not Reported on Financial Statements
$4,297,261
Revenue Not Reported on Form 990
$5,214,094
Other Revenue Adjustments
$3,664,839
Total Revenue per Audited Statements
$30,777,422
Total Revenue per Form 990
$29,860,589
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$14,875,636
Other Expenses$11,491,765
Grants and Similar Amounts Paid$3,664,839
Total Fundraising Expense$2,171,401
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$9,229,134$831,060$1,073,081$11,133,275
Grants to Domestic Individuals$3,664,839--$3,664,839
Depreciation Depletion$3,643,507--$3,643,507
All Other Expenses$1,085,830$1,446,922$290,746$2,823,498
Other Employee Benefits$905,202$101,401$107,168$1,113,771
Fees for Services Other$951,593$53,719$51,857$1,057,169
Current Officers, Directors, Trustees, and Key Employees$461,429$270,850$286,372$1,018,651
Payroll Taxes$704,655$63,576$82,091$850,322
Pension Plan Contributions$590,282$67,080$102,255$759,617
Fees for Service Investment Mgmnt Fees-$632,422-$632,422
Occupancy$548,606--$548,606
Other Expenses$269,842$1,164$4,317$275,323
Insurance-$189,808-$189,808
Fees for Services Legal-$126,168-$126,168
Travel$44,657$50,900$20,989$116,546
Fees for Services Accounting-$102,750-$102,750
Conferences and Meetings$39,236$38,052$5,872$83,160
Total Functional Expenses$23,819,680$4,041,159$2,171,401$30,032,240

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$30,032,240
Total Expenses per Audited Statements$25,817,934
Expenses per Audited Statements$25,734,979
Expenses Not Reported on Financial Statements$4,297,261
Other Expense Adjustments$3,664,839
Expenses Not Reported on Form 990$82,955
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
tuition deposits$770,990
capital leases$124,806
charitable gift annuities payable$90,639
construction retainage payable$90,000
Funds held for others$70,265
deferred liability-pooled income fund$5,024

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMassachusetts Development Finance Agency2013-06-13$40,000,000construction of academic, cultural, and athletic facilities.

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$40,000,000$86,500$40,000,000$131,200

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

THE RETURN WILL BE POSTED ON THE TRUSTEES-ONLY SECURE WEB PORTAL PRIOR TO FILING FOR THE FULL BOARD TO REVIEW. CERTAIN DONORS HAVE REQUESTED THAT THEIR NAMES AND ADDRESSES BE REDACTED TO PROTECT THEIR PRIVACY. THE SCHOOL INFORMS ALL MEMBERS OF THE GOVERNING BODY THAT SCHEDULE B, "SCHEDULE OF CONTRIBUTORS" IS Available FOR THEIR REVIEW UPON REQUEST BEFORE THE FORM 990 IS ULTIMATELY FILED WITH THE IRS.

Form 990, Part VI, Section B, line 12C

once a year, each board member receives, signs, and returns a conflict of interest certificate to the Clerk of the board of trustees. the certificate informs the board member of the school's policy and allows them to disclose any positions with the school that might be considered as conflicting. The clerk reviews each of the certificates, and if a conflict arises, it is brought to the attention of other officers of the board. it is the responsibility of those officers to determine the extent of the conflict, with the goal of preventing abuse but not eliminating someone from doing business with the school for legitimate purposes.

Form 990, Part VI, Section B, line 15

Based on comparability data and review by independent persons, the full board of trustees proposes, votes on, and sets the compensation for the CEO. There was contemporaneous substantiation of the deliberation and decision. For other officers and key employees, the board of trustee's finance committee reviews available information for compensation and makes a recommendation to the full board which is then voted upon by the board.

Form 990, Part VI, Section C, line 19

Our Forms 990 (current and prior three years) are available on the Official Website of the Attorney General of Massachusetts at www.charities.ago.state.ma.us and GuideStar at www2.guidestar.org. We also make our Form 990, Form 1023, Form 990-T, articles of incorporation, and bylaws available to the public upon request. Our audited financial statements are also available on the Official Website of the Attorney General of Massachusetts at www.charities.ago.state.ma.us.

Filing and Contact Details

Filer

Filer Name
The Winsor School
EIN
04-2105842
Phone
6177359519
Address
103 PILGRIM ROAD, BOSTON, MA 02215

Signing Officer

Name
richard s bernasco
Title
chief financial officer
Phone
6177359519
Signed
2018-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
sarah pelmas
Formed
1908
Legal Domicile
Ma
Voting Board Members
27
Independent Board Members
26
Employees
207
Volunteers
275

Preparer

Firm
Cbiz Mhm LLC
Address
500 Boylston Street, Boston, MA 02116
Preparer
Craig Klein
Phone
6177610600
Supplemental Narrative

Financial Statement Notes

Part V, Line 4:

gifts to the endowment help to secure the school's long-term financial stability and fund the current priorities through the ongoing interest generated by the endowment. Winsor honors donors to endowed funds each year in the annual report, which includes a full list of all named funds established since the school's inception. by establishing an endowed fund or contributing to an existing fund, you can support winsor and the girls in several ways: - a scholarship fund helps to make a winsor education possible for deserving students - an endowed fund can be designated to support a department, technology, athletics, the library, or faculty enrichment - an endowed faculty chair supports a teacher in her/his work with students and encourages professional development and personal growth

Part X, Line 2:

The School accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognitionof tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. Interest and penalties assessed, if any, are accrued as income tax expense. The School has identified its tax status as a tax-exempt entity as its only tax position; however, the School has determined that such tax position does not result in an uncertainty requiring recognition. The School is not currently under examination by any taxing jurisdiction. The School's federal and state tax returns are generally open for examination for three years following the date filed.

Part XI, Line 2D - Other Adjustments:

rental expenses 82,955.

Part XI, Line 4B - Other Adjustments:

financial aid netted against tuition revenue 3,664,839.

Part XII, Line 2D - Other Adjustments:

rental expenses 82,955.

Part XII, Line 4B - Other Adjustments:

financial aid netted against tuition revenue 3,664,839.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0The Winsor School offers a rich and challenging curriculum to academically motivated girls in grades 5-12. Winsor defines curriculum as the total classroom learning experience for all students. Our curricular philosophy is based on our understandings about student learning, the pedagogies we practice in response to these understandings, the ways we assess learning, and the qualities of character we encourage our students to develop - as well as the skills and content more commonly associated with "curriculum." Our curriculum is a designed continuum of developmentally appropriate learning experiences across departments. Winsor faculty knows and understands the curriculum and takes responsibility for teaching it. The following four principles establish a basis for the design of the Winsor School's curriculum for the early 21st century.CONNECTED CURRICULUMThe Winsor School believes that students learn best when their ideas, skills, and experiences are reinforced across the disciplines and through the grade levels in a connected curriculum. Teachers plan courses that establish connections for students between subjects and to their own experience; these courses build on students' prior learning and set the groundwork for their future learning. Teachers at each grade level know one another's curriculum and incorporate content and skill connections between disciplines when possible. Connected teaching and learning are integrated into a student's entire Winsor experience.A connected curriculum may include grade level work around themes, teaching that addresses shared essential questions, or interdisciplinary teaching, which we define as a designed connection between themes and topics in more than one subject in the same year.SKILLSThe Winsor School believes that skills - the learned processes and strategies needed to accomplish a task - are an essential part of our connected curriculum and should be taught explicitly. Skills are integrated into the curriculum in a spiraling model, where they advance sequentially in a coordinated fashion across departments from year to year. Students demonstrate their skill competencies at developmentally appropriate points throughout the eight-year program.Our understandings of how students learn, including research on learning styles, mandate that teachers in every course offer students several ways to understand, acquire, and organize new knowledge. Using skills in multiple disciplines reinforces students' prior learning and allows them to access and express their own understanding. Teachers demonstrate, teach and assess skills. The skills that students acquire at Winsor serve as tools for life-long learning.PREPARATION FOR RESPONSIBLE PARTICIPATION IN THE GLOBAL COMMUNITYThe Winsor School believes that a critical aspect of academic excellence is preparation for responsible participation in the global community. The Principles of Diversity articulate the school's commitment to "foster a global consciousness and to maintain "an academic and social environment where all students develop confidence, values, knowledge, and life skills they need to thrive within Winsor and the global community."As a diverse community of teachers and learners, we believe it is important for each student to see herself as rooted in her individual culture. We also believe that it is vital for Winsor students to understand the rich, dynamic cross-cultural forces which shape our country and the contemporary world. Therefore, we teach the western experience within the broad context of global interactions and encounters. Course offerings in various disciplines enable students to become familiar with a multiplicity of political, social and economic systems, religious and ethical beliefs, and modes of artistic expression. Our curriculum also informs students about the natural environment and the use and distribution of our planet's finite resources. It actively challenges stereotypical thinking and fosters empathic understanding
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IRS990/Form990PartVIISectionAGrp/TitleTxt26head of school
IRS990/Form990PartVIISectionAGrp/TitleTxt27chief financial officer
IRS990/Form990PartVIISectionAGrp/TitleTxt28chief advancement officer
IRS990/Form990PartVIISectionAGrp/TitleTxt29associate head of school
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IRS990/Form990PartVIISectionAGrp/TitleTxt31dir. of facilities & const
IRS990/Form990PartVIISectionAGrp/TitleTxt32head of lower school
IRS990/Form990PartVIISectionAGrp/TitleTxt33head of upper school
IRS990/Form990PartVIISectionAGrp/TitleTxt34former head of school-until 6/30/16
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$235$46.8$188$41.2$40.5$0.71
2023Detailed filing. Detailed filing data is available for this year.$218$46.1$172$39.8$37.3$2.44
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$205$45.8$160$35.4$36.7$1.35
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$217$45.7$172$31.4$34.1$2.71
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$197$45.2$152$34.5$31.6$2.96
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$191$44.7$147$29.6$32.2$2.58
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$191$45.2$146$31.3$31.2$0.07
2017Detailed filing. Detailed filing data is available for this year.$189$45.3$144$29.9$30.0$0.17
2016Detailed filing. Detailed filing data is available for this year.$185$46.0$139$39.6$29.4$10.2
2015Detailed filing. Detailed filing data is available for this year.$176$44.8$131$40.0$24.6$15.4
2014Detailed filing. Detailed filing data is available for this year.$140$17.3$123$32.0$21.9$10.1
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$112$6.11$106$32.4$21.1$11.2
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$92.9$3.13$89.7$20.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$90.5$3.03$87.5$19.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$81.9$2.83$79.1$19.0
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2017 filings • 501(c)3 • $100M-$250M nonprofits