Civic Intelligence

Rumsey Hall School Incorporated

990 • Fiscal year 2014 • EIN 06-0692379

Jul 01, 2013 to Jun 30, 2014 • Filed on Feb 13, 2015

201 Romford RoadWashington Dt, CT 06794

(860) 868-0535

Siviq Scores

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

Liabilities / Assets

27th percentile

0.08x

Higher debt load relative to assets than 27% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Liabilities / Revenue

41st percentile

0.24x

Higher debt load relative to revenue than 41% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Net Margin

81st percentile

25%

Higher net margin than 81% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Top Officer Pay

62nd percentile

$293,927

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Asset Growth

73rd percentile

12%

Faster asset growth than 73% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2013 to 2014

Revenue Growth

74th percentile

14%

Faster revenue growth than 74% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2013 to 2014

Assets

Up

$49,683,689

Up $5,155,237 (+12%) from 2013

Net Assets

Up

$45,703,478

Up $4,665,748 (+11%) from 2013

Liabilities

Up

$3,980,211

Up $489,489 (+14%) from 2013

Revenue

Up

$16,527,416

Up $2,046,946 (+14%) from 2013

Expenses

Up

$12,438,973

Up $784,366 (+6.7%) from 2013

Net Income

Up

$4,088,443

Up $1,262,580 (+45%) from 2013

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2011: $38,457,309Liabilities 2011: $2,829,389Net Assets 2011: $35,627,9202011Assets 2012: $40,922,207Liabilities 2012: $3,031,832Net Assets 2012: $37,890,3752012Assets 2013: $44,528,452Liabilities 2013: $3,490,722Net Assets 2013: $41,037,7302013Assets 2014: $49,683,689Liabilities 2014: $3,980,211Net Assets 2014: $45,703,4782014Assets 2015: $51,106,874Liabilities 2015: $4,541,207Net Assets 2015: $46,565,6672015Assets 2016: $54,812,085Liabilities 2016: $4,912,550Net Assets 2016: $49,899,5352016Assets 2017: $57,865,471Liabilities 2017: $5,355,077Net Assets 2017: $52,510,3942017Assets 2018: $60,859,680Liabilities 2018: $4,767,628Net Assets 2018: $56,092,0522018Assets 2019: $63,725,772Liabilities 2019: $5,366,376Net Assets 2019: $58,359,3962019Assets 2020: $62,574,739Liabilities 2020: $3,873,113Net Assets 2020: $58,701,6262020Assets 2021: $67,305,104Liabilities 2021: $3,678,144Net Assets 2021: $63,626,9602021Assets 2022: $63,626,541Liabilities 2022: $4,216,294Net Assets 2022: $59,410,2472022Assets 2023: $64,429,713Liabilities 2023: $4,546,448Net Assets 2023: $59,883,2652023Assets 2024: $68,692,957Liabilities 2024: $5,704,918Net Assets 2024: $62,988,0392024

Highlighted filing

2014

Assets$49,683,689
Liabilities$3,980,211
Net Assets$45,703,478

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2011: $10,523,8432011Expenses 2012: $10,933,3942012Revenue 2013: $14,480,470Expenses 2013: $11,654,607Net Income 2013: $2,825,8632013Revenue 2014: $16,527,416Expenses 2014: $12,438,973Net Income 2014: $4,088,4432014Revenue 2015: $14,912,759Expenses 2015: $13,183,675Net Income 2015: $1,729,0842015Revenue 2016: $16,839,973Expenses 2016: $13,671,759Net Income 2016: $3,168,2142016Revenue 2017: $16,358,539Expenses 2017: $14,180,464Net Income 2017: $2,178,0752017Revenue 2018: $18,143,250Expenses 2018: $14,322,101Net Income 2018: $3,821,1492018Revenue 2019: $17,961,431Expenses 2019: $15,626,263Net Income 2019: $2,335,1682019Revenue 2020: $15,362,985Expenses 2020: $15,498,734Net Income 2020: -$135,7492020Revenue 2021: $16,603,122Expenses 2021: $15,937,956Net Income 2021: $665,1662021Revenue 2022: $17,948,130Expenses 2022: $16,982,751Net Income 2022: $965,3792022Revenue 2023: $17,671,726Expenses 2023: $18,866,611Net Income 2023: -$1,194,8852023Revenue 2024: $21,471,049Expenses 2024: $20,121,206Net Income 2024: $1,349,8432024

Highlighted filing

2014

Revenue$16,527,416
Expenses$12,438,973
Net Income$4,088,443
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Feb 13, 2015
Return Version
2013v4.0
Gross Receipts
$19,341,575
Mission and Program Overview

Mission

Rumsey hall school is committed to the whole child approach to education and believes that teaching academics and teaching an attitude of mind are of equal importance.the school emphasizes effort as a criterion for success and is dedicated to helping each child develop towards his or her maximum stature as an educated person, a successful member of a family, and a contributing member of the community.

Rumsey hall school is committed to a whole child approach to education and believes that teaching academics and teaching an attitude of mind are of equal importance. The school emphasizes effort as a criterion for success and is dedicated to helping each child develop toward his or her maximum stature as an educated person, a successful member of a family, and a contributing member of a community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$26,890,352$32,793,979▲ $5,903,627
Investments Other Securities$8,571,320$10,157,360▲ $1,586,040
Savings and Temporary Cash Investments$8,908,523$6,608,592▼ $2,299,931
Inventories for Sale or Use$60,255$65,375▲ $5,120
Pledges and Grants Receivable$50,000$25,000▼ $25,000
Accounts Receivable$39,405$13,774▼ $25,631
Prepaid Expenses and Deferred Charges$3,626$11,736▲ $8,110
Cash and Non-Interest-Bearing Accounts$4,971$7,873▲ $2,902
Total Assets$44,528,452$49,683,689▲ $5,155,237
Liabilities
Deferred Revenue$1,773,275$2,817,744▲ $1,044,469
Other Liabilities$661,574$709,889▲ $48,315
Accounts Payable and Accrued Expenses$1,055,873$452,578▼ $603,295
Total Liabilities$3,490,722$3,980,211▲ $489,489
Net Assets / Fund Balance
Unrestricted Net Assets$39,652,819$44,157,433▲ $4,504,614
Temporarily Rstr Net Assets$1,031,071$1,192,205▲ $161,134
Permanently Rstr Net Assets$353,840$353,840→ $0
Total Net Assets Fund Balance$41,037,730$45,703,478▲ $4,665,748
Total Liabilities and Net Assets / Fund Balance$44,528,452$49,683,689▲ $5,155,237

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$27,983,006$8,033,729$36,016,735
Equipment$1,540,037$1,426,571$2,966,608
Land$1,973,319-$1,973,319
Other Land Buildings$1,297,617$265,886$1,563,503
Other Securities$212,538--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$8,190,308$310,000▲ $1,265,803$63,079$9,642,762
2012$7,338,619$310,000▲ $621,648$28,460$8,190,308
2011$303,840$7,080,067▼ $4,765-$7,338,619
2010$303,840-▲ $52,195$8,035$303,840
2009$287,912$15,928▲ $21,403-$303,840
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas W FarmenHeadmasterFT$234,692$59,235$293,927
Karen ScodariTreasurer/asFT$116,789-$116,789
Rick S SpoonerAssistant TrFT$103,600-$103,600
Julie Q FredlundSecretary ofFT$69,701-$69,701

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$3,427,091
Program Service Revenue
$11,944,978
Investment Income
$698,442
Other Revenue
$456,905
All Other Contributions
$3,427,091
Change in Net Assets
$4,088,443

Audited Revenue Reconciliation

Revenue per Audited Statements
$16,713,266
Revenue Not Reported on Financial Statements
$-185,850
Revenue Not Reported on Form 990
$577,305
Other Revenue Adjustments
$-185,850
Total Revenue per Audited Statements
$17,290,571
Total Revenue per Form 990
$16,527,416
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,306,394
Other Expenses$4,575,412
Grants and Similar Amounts Paid$2,557,167
Total Fundraising Expense$396,214
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,668,607$579,419$194,333$3,442,359
Grants to Domestic Individuals$2,557,167--$2,557,167
Occupancy$1,145,786$107,448$4,558$1,257,792
Depreciation Depletion$1,106,546$131,427-$1,237,973
Other Employee Benefits$605,326$185,304$25,219$815,849
Current Officers, Directors, Trustees, and Key Employees$52,752$487,705-$540,457
Payroll Taxes$204,791$73,164$14,812$292,767
Pension Plan Contributions$104,502$106,747$3,713$214,962
All Other Expenses$77,416$132,243-$209,659
Insurance-$146,331-$146,331
Advertising$47,225$4,798$88,406$140,429
Other Expenses$201,233$59,655$21,055$80,710
Fees for Service Investment Mgmnt Fees-$64,319-$64,319
Conferences and Meetings$34,654$2,852$14,808$52,314
Office Expenses-$28,955$22,035$50,990
Information Technology$3,512$31,819$7,275$42,606
Fees for Services Accounting-$18,200-$18,200
Fees for Services Legal-$7,016-$7,016
Total Functional Expenses$9,875,357$2,167,402$396,214$12,438,973

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$12,624,823
Expenses per Audited Statements$12,438,973
Total Expenses per Form 990$12,438,973
Expenses Not Reported on Form 990$185,850
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$437,902
Fundraising Direct Expenses$95,608
Gaming Gross Income$7,340
Gaming Direct Expenses$1,249
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$437,902$437,902$81,258$356,644
Total Events$437,902$437,902$95,608$342,294
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Ali SpoonerFamily MemberEmployeeNo$48,348
Tyler FarmenFamily MemberEmployeeNo$42,697
Trevor FarmenFamily MemberEmployeeNo$37,738
Kathryn FarmenFamily MemberEmployeeNo$31,646
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Payroll & Related Taxes$348,139
Deferred Compensation 457 Plan$257,266
Accrued Expenses$104,484
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with family members
Yes
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, Page 6, Part VI, Line 11B

A copy of form 990 is sent to the board chairman of the finance committee for review. Any and all questions are answered before filing.

Form 990, Page 6, Part VI, Line 12C

At the june board meeting the board members & staff are asked to review and make sure they are still in compliance with the written conflict of interest policy. Although no formal system has been set up to monitor compliance it has become a consideration in all activities of the school.

Form 990, Page 6, Part VI, Line 15A

The board, annually at the june board meeting, reviews the compensation of the headmaster, the school's ceo/executive director. The board uses historical compensation information, the nais benchmarking compensation report and the headmaster's performance in order to determine the annual compensation. All spreadsheets, relevant reports, and the written and signed contract are filed in the personnel file of the headmaster.

Form 990, Page 6, Part VI, Line 15B

An annual performance review is conducted yearly for all corporate officers that are also employees. The results of this review, conducted by one's supervisor, along with comparability data and historical compensation determines the new contractual compensation. A signed, written contract is then filed in the personnel file.

Form 990, Page 6, Part VI, Line 19

The governing documents, conflict of interest policy, and financial statements are made available to the public upon request.

Filing and Contact Details

Filer

EIN
06-0692379
Phone
8608680535

Signing Officer

Name
Karen Scodari
Title
Business Manager/CFO
Phone
8608680535
Signed
2015-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen Scodari
Formed
1941
Legal Domicile
Ct
Voting Board Members
22
Independent Board Members
22
Employees
129
Volunteers
183

Preparer

Preparer
Enrico Melaragno CPA
Phone
2037534101
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Rumsey hall school is committed to a whole child approach to education and believes that teaching academics and teaching an attitude of mind are of equal importance. The school emphasizes effort as a criterion for success and is dedicated to helping each child develop toward his or her maximum stature as an educated person, a successful member of a family, and a contributing member of a community.

Form 990, Part XI, Line 9

Direct rental & game expenses offset against income on 990 185,850 direct rental & game expenses offset against income on 990 -185,850 book / tax depreciation difference 76,274

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 4B

Direct rental & game expenses offset against income on 990 -185,850

Schedule D, Page 4, Part XII, Line 2D

Direct rental & game expenses offset against income on 990 185,850

Schedule D, Page 4, Part XII, Line 4B

Book / tax depreciation difference 76,274

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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.$68.7$5.70$63.0$21.5$20.1$1.35
2023Detailed filing. Detailed filing data is available for this year.$64.4$4.55$59.9$17.7$18.9$1.19
2022Detailed filing. Detailed filing data is available for this year.$63.6$4.22$59.4$17.9$17.0$0.97
2021Detailed filing. Detailed filing data is available for this year.$67.3$3.68$63.6$16.6$15.9$0.67
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$62.6$3.87$58.7$15.4$15.5$0.14
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$63.7$5.37$58.4$18.0$15.6$2.34
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$60.9$4.77$56.1$18.1$14.3$3.82
2017Detailed filing. Detailed filing data is available for this year.$57.9$5.36$52.5$16.4$14.2$2.18
2016Detailed filing. Detailed filing data is available for this year.$54.8$4.91$49.9$16.8$13.7$3.17
2015Detailed filing. Detailed filing data is available for this year.$51.1$4.54$46.6$14.9$13.2$1.73
2014Detailed filing. Detailed filing data is available for this year.$49.7$3.98$45.7$16.5$12.4$4.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$44.5$3.49$41.0$14.5$11.7$2.83
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.9$3.03$37.9$10.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.5$2.83$35.6$10.5