Civic Intelligence

Greenwich Country Day School Inc

EIN 06-0646657 • 501(c)3 • Greenwich, CT

Profile

The mission of the greenwich country day school is to enable all children in our care to discover and to develop what is finest in themselves to achieve the highest standards in their studies, in their play, and in their character.

PO Box 623Greenwich, CT 06836

www.gcds.net

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

52nd percentile

0.31x

Higher debt load relative to assets than 52% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

77th percentile

1.09x

Higher debt load relative to revenue than 77% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

82nd percentile

23%

Higher net margin than 82% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

59th percentile

$1,053,508

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

68th percentile

9.8%

Faster asset growth than 68% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

80th percentile

25%

Faster revenue growth than 80% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Up

$399,161,527

Up $35,646,064 (+9.8%) from 2023

Liabilities

Up

$125,096,992

Up $5,896,190 (+4.9%) from 2023

Net Assets

Up

$274,064,535

Up $29,749,874 (+12%) from 2023

Revenue

Up

$114,737,876

Up $22,856,510 (+25%) from 2023

Expenses

Up

$88,426,022

Up $4,326,004 (+5.1%) from 2023

Net Income

Up

$26,311,854

Up $18,530,506 (+238%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$400M$300M$200M$100M$0Assets 2011: $161,168,138Liabilities 2011: $45,882,527Net Assets 2011: $115,285,6112011Assets 2012: $155,868,067Liabilities 2012: $40,134,318Net Assets 2012: $115,733,7492012Assets 2013: $162,122,456Liabilities 2013: $38,271,404Net Assets 2013: $123,851,0522013Assets 2014: $165,525,778Liabilities 2014: $39,277,000Net Assets 2014: $126,248,7782014Assets 2015: $184,567,852Liabilities 2015: $41,063,628Net Assets 2015: $143,504,2242015Assets 2016: $191,786,064Liabilities 2016: $45,490,617Net Assets 2016: $146,295,4472016Assets 2017: $201,647,673Liabilities 2017: $45,858,335Net Assets 2017: $155,789,3382017Assets 2018: $232,342,519Liabilities 2018: $61,043,758Net Assets 2018: $171,298,7612018Assets 2019: $282,559,886Liabilities 2019: $109,246,041Net Assets 2019: $173,313,8452019Assets 2020: $294,418,682Liabilities 2020: $137,571,188Net Assets 2020: $156,847,4942020Assets 2021: $332,908,976Liabilities 2021: $125,931,299Net Assets 2021: $206,977,6772021Assets 2022: $347,177,683Liabilities 2022: $129,695,981Net Assets 2022: $217,481,7022022Assets 2023: $363,515,463Liabilities 2023: $119,200,802Net Assets 2023: $244,314,6612023Assets 2024: $399,161,527Liabilities 2024: $125,096,992Net Assets 2024: $274,064,5352024

Highlighted filing

2024

Assets$399,161,527
Liabilities$125,096,992
Net Assets$274,064,535

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$150M$100M$50M$0-$50MRevenue 2011: $33,445,848Expenses 2011: $29,853,290Net Income 2011: $3,592,5582011Expenses 2012: $33,071,9852012Revenue 2013: $31,790,342Expenses 2013: $30,582,257Net Income 2013: $1,208,0852013Revenue 2014: $31,313,795Expenses 2014: $32,652,860Net Income 2014: -$1,339,0652014Revenue 2015: $58,983,974Expenses 2015: $38,602,153Net Income 2015: $20,381,8212015Revenue 2016: $51,807,357Expenses 2016: $39,276,113Net Income 2016: $12,531,2442016Revenue 2017: $49,635,170Expenses 2017: $39,876,186Net Income 2017: $9,758,9842017Revenue 2018: $55,457,576Expenses 2018: $42,486,865Net Income 2018: $12,970,7112018Revenue 2019: $59,124,579Expenses 2019: $49,180,312Net Income 2019: $9,944,2672019Revenue 2020: $78,493,415Expenses 2020: $85,205,738Net Income 2020: -$6,712,3232020Revenue 2021: $95,548,707Expenses 2021: $68,352,256Net Income 2021: $27,196,4512021Revenue 2022: $85,395,550Expenses 2022: $71,944,523Net Income 2022: $13,451,0272022Revenue 2023: $91,881,366Expenses 2023: $84,100,018Net Income 2023: $7,781,3482023Revenue 2024: $114,737,876Expenses 2024: $88,426,022Net Income 2024: $26,311,8542024

Highlighted filing

2024

Revenue$114,737,876
Expenses$88,426,022
Net Income$26,311,854

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$399$125$274$115$88.4$26.3
2023Detailed filing. Detailed filing data is available for this year.$364$119$244$91.9$84.1$7.78
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$347$130$217$85.4$71.9$13.5
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$333$126$207$95.5$68.4$27.2
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$294$138$157$78.5$85.2$6.71
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$283$109$173$59.1$49.2$9.94
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$232$61.0$171$55.5$42.5$13.0
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$202$45.9$156$49.6$39.9$9.76
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$192$45.5$146$51.8$39.3$12.5
2015Detailed filing. Detailed filing data is available for this year.$185$41.1$144$59.0$38.6$20.4
2014Detailed filing. Detailed filing data is available for this year.$166$39.3$126$31.3$32.7$1.34
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$162$38.3$124$31.8$30.6$1.21
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$156$40.1$116$33.1
2011Summary only. Only limited summary data is available for this year.$161$45.9$115$33.4$29.9$3.59
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jan 31, 2025
Return Version
2023v6.0
Gross Receipts
$132,143,777
Mission and Program Overview

Mission

The mission of The Greenwich Country Day School is to enable all children in our care to discover and to develop what is finest in themselves to achieve the highest standards in their studies, in their play, and in their character.

The school seeks to provide qualified students with opportunities for academic development, intellectual growth, artistic and physical fulfillment and moral awareness.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$200,382,117$216,127,779▲ $15,745,662
Investments Other Securities$56,313,029$75,763,021▲ $19,449,992
Cash and Non-Interest-Bearing Accounts$27,249,706$32,030,119▲ $4,780,413
Investments in Publicly Traded Securities$30,580,974$23,072,692▼ $7,508,282
Pledges and Grants Receivable$25,238,340$19,905,689▼ $5,332,651
Savings and Temporary Cash Investments$5,405,193$8,527,671▲ $3,122,478
Prepaid Expenses and Deferred Charges$1,048,644$671,349▼ $377,295
Accounts Receivable$454,320$397,742▼ $56,578
Inventories for Sale or Use$93,387$131,374▲ $37,987
Total Assets$363,515,463$399,161,527▲ $35,646,064
Other Assets Total$16,749,753$22,534,091▲ $5,784,338
Liabilities
Tax Exempt Bond Liabilities$86,646,689$84,537,882▼ $2,108,807
Deferred Revenue$20,408,079$20,897,246▲ $489,167
Other Liabilities$8,865,078$15,216,380▲ $6,351,302
Accounts Payable and Accrued Expenses$3,250,856$4,445,484▲ $1,194,628
Escrow Account Liability$30,100--
Total Liabilities$119,200,802$125,096,992▲ $5,896,190
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$167,739,237$195,121,509▲ $27,382,272
Net Assets With Donor Restrictions$76,575,424$78,943,026▲ $2,367,602
Total Net Assets Fund Balance$244,314,661$274,064,535▲ $29,749,874
Total Liabilities and Net Assets / Fund Balance$363,515,463$399,161,527▲ $35,646,064

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$159,434,404$58,343,753$217,778,157
Land$42,677,215-$42,677,215
Equipment$12,881,793$11,442,602$24,324,395
Other Land Buildings$1,134,367$5,767,897$6,902,264
Other Assets Org$4,242,793--
Other Securities$75,763,021--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$87,551,632$659,217▲ $12,405,856$485,712$100,130,993
2022$78,447,879$1,188,222▲ $8,367,007$451,476$87,551,632
2021$89,284,042$2,245,947▼ $12,618,555$463,555$78,447,879
2020$69,420,032$244,227▲ $20,027,216$407,433$89,284,042
2019$66,846,234$143,995▲ $2,292,138$-137,665$69,420,032
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Adam RohdieHead of School, Ex- OfficioFT$699,394$354,114$1,053,508
William AuerswaldCFO/COOFT$394,377$71,367$465,744
Christopher S WintersHead of Upper SchoolFT$298,729$67,525$366,254
Anabel M PerezDirector of DevelopmentFT$241,035$61,356$302,391
Alnardo RamirezDirector of College PlacementFT$252,744$49,587$302,331
Jacqueline JenkinsAssistant Head of SchoolFT$233,619$66,442$300,061
Cheryl D PlummerDirector of AdmissionsFT$212,575$35,732$248,307
Jeffrey DetesoDirector Wellness/student SupportFT$179,843$54,216$234,059
Davis TrudyHead of Lower ElementaryFT$174,990$56,336$231,326
Anne AllenAssistant Head of Lower SchoolFT$177,009$51,183$228,192
Richard ColumboAsst Head of Upper SchoolFT$189,723$20,434$210,157
Basinet NinaHead of Upper ElementaryFT$184,125$20,044$204,169

Board Members and Trustees

NameTitle
Kerrith MackayParents Association Co-chair
Krystal SachsParents Association Co-chair
Vicki CraverPresident
Antonia ThompsonVice President
Emily Hoffman SternVice President
Kristin CustarVice President
Rob HarteveldtVice President
Harry SchwefelVice-president
Alex KarnalTrustee
Andrew MccormackTrustee
Barbara HartyTrustee
Cathy DishnerTrustee
Danielle RobinsonTrustee
Don TruesdaleTrustee
Dwight AndersonTrustee
Frank LoverroTrustee
Jeff RobertsonTrustee
Matt BreitfelderTrustee
Mike TriplettTrustee
Nicole MitchellTrustee
Phillip LauderdaleTrustee
Richard DuckettTrustee
Sonal KhichadiaTrustee
Taylor GlassbrookTrustee
Tricia BlackTrustee
William ManuelTrustee
Caleb WattsTrustee (outgoing)
Jill WeinerTrustee (outgoing)
Katherine SandhuTrustee (outgoing)
Magdalena MiguensTrustee (outgoing)
Peter SchweinfurthTrustee (outgoing)
Wear CulvahouseTrustee (outgoing)
Vernon SchwartzTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Centerbrook Architects And Planners LLPArchitural ServicesPO BOX 955, Centerbrook, CT 06409-0955$1,533,357
Swept Away Acquisition LLCCustodian Services180 STILLSON ROAD, Fairfield, CT 06825$700,401
Morano Landscape Garden And DesignLandscaping Services543 HALSTEAD AVENUE, Mamaroneck, NY 10543-2715$520,473
Infinity Landscaping LLCConstruction Services81 OAK RIDGE STREET, Greenwich, CT 06830$355,275
Cambridge Associates LLCInvestment Advior ServicesPO BOX 412015, Boston, MA 02241-2015$225,000
Revenue and Support

Revenue Composition

Contributions and Grants
$30,874,170
Program Service Revenue
$76,871,761
Investment Income
$6,214,395
Other Revenue
$777,550
All Other Contributions
$30,874,170
Change in Net Assets
$26,311,854

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 Traded54$1,643,778Fair Market Value (FMV)
Total Noncash Contributions54$1,643,778-

Audited Revenue Reconciliation

Revenue per Audited Statements
$113,768,157
Revenue Not Reported on Financial Statements
$969,719
Revenue Not Reported on Form 990
$370,147
Total Revenue per Audited Statements
$114,138,304
Total Revenue per Form 990
$114,737,876
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$54,446,067
Other Expenses$25,468,500
Grants and Similar Amounts Paid$8,511,455
Total Fundraising Expense$2,005,738
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$25,692,334$7,390,171$1,017,490$34,099,995
Other Employee Benefits$9,786,437$1,781,363$245,261$11,813,061
Grants to Domestic Individuals$8,511,455--$8,511,455
Depreciation Depletion$6,895,734$320,235$149,443$7,365,412
All Other Expenses$2,085,666$1,665,407$198,485$3,949,558
Pension Plan Contributions$2,438,916$443,940$61,122$2,943,978
Interest$50,361$2,842,301-$2,892,662
Current Officers, Directors, Trustees, and Key Employees$2,218,106$582,872$80,251$2,881,229
Payroll Taxes$2,243,259$408,326$56,219$2,707,804
Occupancy$2,148,295$81,233$46,094$2,275,622
Information Technology$610,042$661,282-$1,271,324
Fees for Service Investment Mgmnt Fees-$969,719-$969,719
Other Expenses$848,707$20,834$3,871$873,412
Insurance-$643,802-$643,802
Travel$609,697--$609,697
Fees for Services Other-$359,894$16,205$376,099
Office Expenses-$173,022$80,857$253,879
Fees for Services Accounting-$110,954-$110,954
Fees for Services Legal-$91,881-$91,881
Advertising-$2,466-$2,466
Total Functional Expenses$67,762,496$18,657,788$2,005,738$88,426,022

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$88,426,022
Expenses per Audited Statements$78,944,848
Total Expenses per Audited Statements$78,944,848
Expenses Not Reported on Financial Statements$9,481,174
Other Expense Adjustments$8,511,455
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$57,387,312

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland and Greenland)Investments---$27,259,666
Central America and the CaribbeanInvestments---$26,094,679
East Asia and the PacificInvestments---$4,032,967
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
Accrued Postretirement Health Care Costs$14,378,467
Deferred Compensation$434,819
Operating Lease Liability$403,094

Bond Issues

BondIssuerIssuedIssue PricePurpose
BChefa Bond Series B2018-12-19$30,000,000Constructing, furnishing, and equipping a new school building
AChefa Bond Series a2018-12-19$27,878,000Constructing, furnishing, and equipping a new school building

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$52,122,000$19,824,764--
A$27,878,000$19,317,897-$557,560

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
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 35% controlled entity
No
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The return prepared by the independent accountant is reviewed by the cfo. A copy of the return is shared with the head of school and all directors who are encouraged to review the form. The filing of the form and approval of its contents is authorized by board vote prior to filing with the irs.

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

There is an annual review to confirm that there are no conflicts of interest with any trustee, board committee member, or employee. The board determines whether a conflict exists based on the annual review and if it appears there are any conflicts the board would review such conflict. If the conflict involved a board member, it would require disclosure from the board.

Form 990, Part VI, Section B, Line 15A

The executive committee of the board of trustees determines the head of school annual compensation based on data of comparable compensation of similar organizations. That decision is confirmed in writing by the board president. Compensation for other officers or key employees is determined by the head of school at the board's delegation based on similar comparable data.

Form 990, Part VI, Section C, Line 19

The audited financial statements, governing documents, and conflict of interest policy are available upon written request at the school's business office. The conflict of interest policy is also available in the employee and trustee handbook.

Filing and Contact Details

Filer

Filer Name
Greenwich Country Day School Inc
EIN
06-0646657
Phone
2038635600
Address
PO BOX 623, GREENWICH, CT 06836

Signing Officer

Name
William Auerswald
Title
CFO/COO
Phone
2038635600
Signed
2025-01-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Auerswald
Formed
1926
Legal Domicile
Ct
Voting Board Members
27
Independent Board Members
27
Employees
634
Volunteers
500

Preparer

Firm
Cbiz Advisors LLC
Address
4 MANHATTANVILLE ROAD SUITE 402, PURCHASE, NY 10577
Preparer
Magdalena Czerniawski
Phone
9145249000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in swap value 1,119,702. Actuarial post-retirement benefit adjustment -6,563,284.

Financial Statement Notes

PART V, LINE 4:

The school's endowment consists of approximately 50 individual funds established for a variety of purposes. The temporarily restricted net assets were intended to be used for instructional programs, physical plant and annual gifts for subsequent school years. Income from the permanently restricted net assets is expendable for general and restricted purposes i.e., general operations and donor-specified purposes(primarily instruction).

PART X, LINE 2:

The school evaluates all significant tax positions as required by accounting principles generally accepted in the united states of america. As of june 30, 2024, the school does not believe that it has taken any positions that would require the recording of any additional tax liability nor does it believe that there are any unrealized tax benefits that would either increase or decrease within the next year.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Financial aid / non-faculty -8,511,455.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid / non-faculty 8,511,455.

Raw XML AppendixShowing 400 of 1,302 raw XML fields

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/ActivityOrMissionDesc0THE SCHOOL SEEKS TO PROVIDE QUALIFIED STUDENTS WITH OPPORTUNITIES FOR ACADEMIC DEVELOPMENT, INTELLECTUAL GROWTH, ARTISTIC AND PHYSICAL FULFILLMENT AND MORAL AWARENESS.
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