Civic Intelligence

Rumsey Hall School Incorporated

990 • Fiscal year 2017 • EIN 06-0692379

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 13, 2017

201 Romford RoadWashington Depot, 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

0.09x

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

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

44th percentile

0.33x

Higher debt load relative to revenue than 44% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Net Margin

72nd percentile

13%

Higher net margin than 72% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

41st percentile

$291,471

Higher top officer pay than 41% of similar nonprofits.

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

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Asset Growth

49th percentile

5.6%

Faster asset growth than 49% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

23rd percentile

-2.9%

Faster revenue growth than 23% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Assets

Up

$57,865,471

Up $3,053,386 (+5.6%) from 2016

Net Assets

Up

$52,510,394

Up $2,610,859 (+5.2%) from 2016

Liabilities

Up

$5,355,077

Up $442,527 (+9.0%) from 2016

Revenue

Down

$16,358,539

Down $481,434 (-2.9%) from 2016

Expenses

Up

$14,180,464

Up $508,705 (+3.7%) from 2016

Net Income

Down

$2,178,075

Down $990,139 (-31%) from 2016

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

2017

Assets$57,865,471
Liabilities$5,355,077
Net Assets$52,510,394

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

2017

Revenue$16,358,539
Expenses$14,180,464
Net Income$2,178,075
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 13, 2017
Return Version
2016v3.1
Gross Receipts
$25,958,732
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.

To educate using an approved curriculum.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$33,124,856$33,768,779▲ $643,923
Investments in Publicly Traded Securities$11,415,911$14,381,237▲ $2,965,326
Savings and Temporary Cash Investments$9,760,547$9,164,561▼ $595,986
Investments Other Securities$319,429$347,870▲ $28,441
Inventories for Sale or Use$112,499$103,776▼ $8,723
Intangible Assets$41,061$66,768▲ $25,707
Prepaid Expenses and Deferred Charges$9,950$21,083▲ $11,133
Accounts Receivable$23,579$6,981▼ $16,598
Cash and Non-Interest-Bearing Accounts$4,253$4,416▲ $163
Total Assets$54,812,085$57,865,471▲ $3,053,386
Liabilities
Deferred Revenue$3,304,853$3,931,430▲ $626,577
Other Liabilities$957,938$968,726▲ $10,788
Accounts Payable and Accrued Expenses$649,759$454,921▼ $194,838
Total Liabilities$4,912,550$5,355,077▲ $442,527
Net Assets / Fund Balance
Unrestricted Net Assets$48,246,798$50,819,631▲ $2,572,833
Temporarily Rstr Net Assets$1,093,397$1,131,423▲ $38,026
Permanently Rstr Net Assets$559,340$559,340→ $0
Total Net Assets Fund Balance$49,899,535$52,510,394▲ $2,610,859
Total Liabilities and Net Assets / Fund Balance$54,812,085$57,865,471▲ $3,053,386

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$30,161,981$11,011,821$41,173,802
Equipment$1,046,247$2,233,418$3,279,665
Land$1,983,522-$1,983,522
Other Land Buildings$577,029$357,190$934,219

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$11,130,610$2,060,000▲ $1,050,217$105,155$14,062,913
2015$9,864,870$1,260,200▲ $142,329$76,111$11,130,610
2014$9,642,762$415,300▼ $127,757-$9,864,870
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas W FarmenFormer Head-$257,173$34,298$291,471
Thomas W FarmenFormer Headmaster-$257,173$49,298$291,471
Karen ScodariTreasurerFT$143,149$26,393$169,542
Matthew HoenigerHeadmasterFT$140,181$43,965$169,146
Brooke GieseAssistant TrFT$96,846$26,443$123,289
Julie Q FredlundSecretary ofFT$81,280$19,332$100,612

Highest Paid Contractors

ContractorServicesLocationCompensation
Diversified Building ServicesllcCleaning ServicPO BOX 4658, Wallingford, CT 06492$147,535
Revenue and Support

Revenue Composition

Contributions and Grants
$1,672,205
Program Service Revenue
$13,679,121
Investment Income
$639,346
Other Revenue
$367,867
All Other Contributions
$1,672,205
Change in Net Assets
$2,178,075

Audited Revenue Reconciliation

Revenue per Audited Statements
$16,548,697
Revenue Not Reported on Financial Statements
$-190,158
Revenue Not Reported on Form 990
$432,784
Other Revenue Adjustments
$-190,158
Total Revenue per Audited Statements
$16,981,481
Total Revenue per Form 990
$16,358,539
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,149,218
Other Expenses$5,286,287
Grants and Similar Amounts Paid$2,744,959
Total Fundraising Expense$496,271
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,934,412$761,613$249,082$3,945,107
Grants to Domestic Individuals$2,744,959--$2,744,959
Depreciation Depletion$1,131,705$134,578-$1,266,283
Occupancy$1,070,973$98,586$3,823$1,173,382
Other Employee Benefits$674,015$261,919$34,517$970,451
Current Officers, Directors, Trustees, and Key Employees$219,685$432,828-$652,513
All Other Expenses$83,348$276,601$20,924$380,873
Payroll Taxes$237,527$87,239$18,801$343,567
Pension Plan Contributions$113,839$116,422$7,319$237,580
Insurance-$191,129-$191,129
Other Expenses$187,244$382,168-$187,244
Advertising$61,993$7,733$96,096$165,822
Fees for Service Investment Mgmnt Fees-$73,120-$73,120
Office Expenses-$21,521$45,233$66,754
Fees for Services Legal-$59,137-$59,137
Conferences and Meetings$31,519$3,455$17,511$52,485
Information Technology$3,911$41,445$2,965$48,321
Fees for Services Accounting-$17,700-$17,700
Total Functional Expenses$10,716,999$2,967,194$496,271$14,180,464

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$14,370,622
Expenses per Audited Statements$14,180,464
Total Expenses per Form 990$14,180,464
Expenses Not Reported on Form 990$190,158
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$434,845
Fundraising Direct Expenses$124,105
Gaming Gross Income$8,800
Gaming Direct Expenses$1,179
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Auction$434,845$434,845$102,111$332,734
Total Events$434,845$434,845$124,105$310,740
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
Amy HoenigerFamily MemberEmployee Comp&benefiNo$51,106
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Payroll & Related Taxes$413,930
Deferred Compensation 457 Plan$347,870
Accrued Expenses$131,090
Forfeited Tuition Payable$75,836
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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 send to the 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

At the annual june board meeting, the board reviewes 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 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

Filer Name
Rumsey Hall School Inc
EIN
06-0692379
Phone
8608680535
Address
201 ROMFORD ROAD, WASHINGTON DEPOT, CT 06794

Signing Officer

Name
Karen Scodari
Title
Treasurer
Phone
8608680535
Signed
2017-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karen Scodari
Formed
1941
Legal Domicile
Ct
Voting Board Members
21
Independent Board Members
21
Employees
129
Volunteers
155

Preparer

Firm
CHARLES HEAVEN & CO CPA'S
Address
207 BANK ST, WATERBURY, CT 06702
Preparer
Enrico Melaragno CPA
Phone
2037534101
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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.

Form 990, Part XI, Line 9

Direct rental expense offset against rental income on 990 190,158 direct rental expense offset against rental income on 990 -190,158

Financial Statement Notes

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

Direct rental expense offset against rental income on 990 -190,158

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

Direct rental expense offset against rental income on 990 190,158

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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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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