Civic Intelligence

Portledge School

990 • Fiscal year 2023 • EIN 11-6044973

Jul 01, 2022 to Jun 30, 2023 • Filed on Dec 22, 2023

Refreshing map…

355 Duck Pond RoadLocust Valley, NY 11560

(516) 671-1475

Siviq Scores

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

Liabilities / Assets

70th percentile

0.45x

Higher debt load relative to assets than 70% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

68th percentile

0.65x

Higher debt load relative to revenue than 68% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

49th percentile

3.4%

Higher net margin than 49% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

89th percentile

$662,464

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

54th percentile

7.7%

Faster asset growth than 54% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

42nd percentile

1.8%

Faster revenue growth than 42% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Assets

Up

$35,750,915

Up $2,558,290 (+7.7%) from 2022

Net Assets

Up

$19,665,596

Up $1,273,391 (+6.9%) from 2022

Liabilities

Up

$16,085,319

Up $1,284,899 (+8.7%) from 2022

Revenue

Up

$24,652,480

Up $442,913 (+1.8%) from 2022

Expenses

Up

$23,814,319

Up $1,404,300 (+6.3%) from 2022

Net Income

Down

$838,161

Down $961,387 (-53%) from 2022

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2011: $10,944,406Liabilities 2011: $3,140,061Net Assets 2011: $7,804,3452011Assets 2012: $10,561,169Liabilities 2012: $3,036,474Net Assets 2012: $7,524,6952012Assets 2013: $12,396,928Liabilities 2013: $4,278,822Net Assets 2013: $8,118,1062013Assets 2014: $14,549,735Liabilities 2014: $4,946,404Net Assets 2014: $9,603,3312014Assets 2015: $15,381,224Liabilities 2015: $5,762,452Net Assets 2015: $9,618,7722015Assets 2016: $16,620,261Liabilities 2016: $6,296,467Net Assets 2016: $10,323,7942016Assets 2017: $18,537,092Liabilities 2017: $7,458,699Net Assets 2017: $11,078,3932017Assets 2018: $23,041,964Liabilities 2018: $11,369,978Net Assets 2018: $11,671,9862018Assets 2019: $24,810,497Liabilities 2019: $10,714,676Net Assets 2019: $14,095,8212019Assets 2020: $28,511,405Liabilities 2020: $12,946,403Net Assets 2020: $15,565,0022020Assets 2021: $30,687,544Liabilities 2021: $13,471,318Net Assets 2021: $17,216,2262021Assets 2022: $33,192,625Liabilities 2022: $14,800,420Net Assets 2022: $18,392,2052022Assets 2023: $35,750,915Liabilities 2023: $16,085,319Net Assets 2023: $19,665,5962023Assets 2024: $39,128,080Liabilities 2024: $17,218,115Net Assets 2024: $21,909,9652024Assets 2025: $42,400,901Liabilities 2025: $19,633,457Net Assets 2025: $22,767,4442025

Highlighted filing

2023

Assets$35,750,915
Liabilities$16,085,319
Net Assets$19,665,596

Operations Trend

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

$30M$20M$10M$0-$10MRevenue 2011: $11,824,604Expenses 2011: $12,028,261Net Income 2011: -$203,6572011Expenses 2012: $11,725,6082012Revenue 2013: $12,494,053Expenses 2013: $11,971,980Net Income 2013: $522,0732013Revenue 2014: $15,308,444Expenses 2014: $13,821,187Net Income 2014: $1,487,2572014Revenue 2015: $14,829,764Expenses 2015: $14,666,560Net Income 2015: $163,2042015Revenue 2016: $15,923,717Expenses 2016: $15,228,116Net Income 2016: $695,6012016Revenue 2017: $17,375,685Expenses 2017: $16,578,687Net Income 2017: $796,9982017Revenue 2018: $18,645,639Expenses 2018: $18,131,839Net Income 2018: $513,8002018Revenue 2019: $22,758,291Expenses 2019: $20,335,874Net Income 2019: $2,422,4172019Revenue 2020: $24,050,312Expenses 2020: $22,605,507Net Income 2020: $1,444,8052020Revenue 2021: $24,376,165Expenses 2021: $21,581,800Net Income 2021: $2,794,3652021Revenue 2022: $24,209,567Expenses 2022: $22,410,019Net Income 2022: $1,799,5482022Revenue 2023: $24,652,480Expenses 2023: $23,814,319Net Income 2023: $838,1612023Revenue 2024: $26,947,471Expenses 2024: $25,216,248Net Income 2024: $1,731,2232024Revenue 2025: $27,652,412Expenses 2025: $27,307,068Net Income 2025: $345,3442025

Highlighted filing

2023

Revenue$24,652,480
Expenses$23,814,319
Net Income$838,161
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Dec 22, 2023
Return Version
2022v5.0
Gross Receipts
$25,200,662
Mission and Program Overview

Mission

Portledge school offers a competitive college preparatory program in a warm, inclusive community. Students are inspired to realize their individual potential by developing the critical thinking skills and moral courage necessary for lifelong learning in an increasingly complex world.

Portledge school provides education and extra-curricular programming for students in nursery to 12th grade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$16,106,550$18,710,982▲ $2,604,432
Savings and Temporary Cash Investments$8,606,934$8,509,173▼ $97,761
Investments in Publicly Traded Securities$3,075,661$4,528,691▲ $1,453,030
Pledges and Grants Receivable$1,261,104$1,090,076▼ $171,028
Cash and Non-Interest-Bearing Accounts$1,984,557$1,060,063▼ $924,494
Accounts Receivable$352,668$531,354▲ $178,686
Prepaid Expenses and Deferred Charges$570,424$298,838▼ $271,586
Total Assets$33,192,625$35,750,915▲ $2,558,290
Other Assets Total$1,234,727$1,021,738▼ $212,989
Liabilities
Deferred Revenue$8,468,583$9,436,951▲ $968,368
Tax Exempt Bond Liabilities$4,683,214$4,748,515▲ $65,301
Accounts Payable and Accrued Expenses$1,648,623$1,899,853▲ $251,230
Total Liabilities$14,800,420$16,085,319▲ $1,284,899
Net Assets / Fund Balance
Net Assets With Donor Restrictions$9,658,508$10,399,391▲ $740,883
Net Assets Without Donor Restrictions$8,733,697$9,266,205▲ $532,508
Total Net Assets Fund Balance$18,392,205$19,665,596▲ $1,273,391
Total Liabilities and Net Assets / Fund Balance$33,192,625$35,750,915▲ $2,558,290

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,039,951$9,863,862$23,903,813
Other Land Buildings$3,978,824$597,679$4,576,503
Equipment$571,407$3,404,569$3,975,976
Land$120,800-$120,800

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$3,271,391$794,093▲ $534,732-$4,600,216
2021$3,470,388$325,689▼ $524,686-$3,271,391
2020$2,775,232$30,276▲ $766,941$102,061$3,470,388
2019$2,657,105$10,000▲ $104,959$93,000$2,775,232
2018$2,529,784$112,600▲ $32,319$17,598$2,657,105
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Simon a WilliamsHead of SchoolFT$441,085$221,379$662,464
Sarah SchwamController/director of OperationsFT$202,818$80,557$283,375
Karen CrowleyAsst. Head of SchoolFT$206,770$59,500$266,270
Saralyn LawnLower School Division HeadFT$179,992$76,286$256,278
Chris DisimileMs/us Division HeadFT$174,671$75,772$250,443
Michael CoopeAdmissions DirectorFT$150,783$59,160$209,943
Tara AskelandAdvancement DirectorFT$159,354$40,089$199,443
Peter CoxDirector of Information TechFT$128,297$70,098$198,395
Patricia RiggInternational Baccalaueate Coor.FT$113,426$72,625$186,051
Traci DouglasDirector of DeiFT$131,450$33,471$164,921
Betty FuchsFormer Chief Financial Officer-$133,294$13,055$146,349
Richard FiotoMaintenance DirectorFT$120,150$6,265$126,415
Morgan NeemsDirector of Human ResourcesFT$116,209-$116,209
Ramona OwensChief Financial Officer From 9.22FT$60,814$724$61,538

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Dhi ConstructionConstruction Services300 MARCUS AVENUE SUITE 1W12, Lake Success, NY 11402$1,604,300
Culinart GroupFood Services175 SUNNYSIDE BLVD SUITE 200, Plainview, NY 11803$700,411
Peter Gisolfi AssociatesArchitect Services566 WARBURTON AVENUE, Hastings On Hudson, NY 10706$367,415
BocciaConstruction Services168 BROADWAY AVE, Garden City Park, NY 11040$268,875
Sahn Ward Braff Koblenz PllcLegal333 EARLE OVINGTON BLVD SUITE 601, Uniondale, NY 11553$111,087
Revenue and Support

Revenue Composition

Contributions and Grants
$2,209,018
Program Service Revenue
$21,885,252
Investment Income
$262,736
Other Revenue
$295,474
All Other Contributions
$1,346,869
Change in Net Assets
$838,161

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
Other Non Cash Contri Table198$109,712Cost
Securities Publicly Traded4$44,657Avg. Selling Price
Other Non Cash Contri Table1$4,449Cost
Total Noncash Contributions203$158,818-

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,360,165
Revenue Not Reported on Financial Statements
$4,292,315
Revenue Not Reported on Form 990
$673,841
Other Revenue Adjustments
$4,292,315
Total Revenue per Audited Statements
$21,034,006
Total Revenue per Form 990
$24,652,480
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$15,227,958
Other Expenses$5,223,686
Grants and Similar Amounts Paid$3,362,675
Total Fundraising Expense$662,494
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,420,951$988,835$130,411$9,540,197
Grants to Domestic Individuals$3,362,675--$3,362,675
Current Officers, Directors, Trustees, and Key Employees$415,144$1,751,659$212,067$2,378,870
Other Employee Benefits$1,687,882$217,936$49,780$1,955,598
Depreciation Depletion$777,908$202,942$50,736$1,031,586
Payroll Taxes$625,648$170,708$22,569$818,925
Travel$407,575$148,460-$556,035
Pension Plan Contributions$374,245$45,190$4,837$424,272
Office Expenses$313,117$77,060$14,650$404,827
Occupancy$244,141$81,380-$325,521
Insurance$236,008$62,936$15,734$314,678
Information Technology$295,492--$295,492
Fees for Services Other$229,648$39,549$289$269,486
Interest$102,774$31,906$7,976$142,656
Comp Disqual Persons$110,096--$110,096
All Other Expenses-$44,924$37,053$81,977
Conferences and Meetings$7,997$48,272$16,505$72,774
Advertising-$50,977$13,041$64,018
Fees for Services Accounting$46,436$12,383$3,096$61,915
Other Expenses$4,613$35,981$14,625$40,594
Fees for Services Legal$16,375$4,366$1,091$21,832
Total Functional Expenses$18,939,651$4,212,174$662,494$23,814,319

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$23,814,319
Total Expenses per Audited Statements$19,760,615
Expenses per Audited Statements$19,522,004
Expenses Not Reported on Financial Statements$4,292,315
Other Expense Adjustments$4,292,315
Expenses Not Reported on Form 990$238,611
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$219,306
Fundraising Direct Expenses$174,642
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Gala$471,173$214,231$121,519$92,712
Champions for Charity$16,857---
Total Events$494,230$219,306$174,642$44,664
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
Candace Mary Owen-williamsFamily Member of Head of SchoolEmploymentNo$110,096
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
ANassau County Local Economic Assistance2023-05-16$5,800,000Athletic & wellness center and renovate campus
BNassau County Local Economic Assistance2021-09-23$5,210,000Refinancing 2018 mortgage & campus deferred maintenance

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$5,800,000$4,199,032$117,592$10,968
B$5,210,000---

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
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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, Part VI, Section A, Line 2

Kevin mercier and claude bahnik have a family relationship.

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

The form 990 is a prepared by an outside accounting firm. The finance committee and the treasurer review the form 990 and make a recommendation to the board to approve the return. The board is provided a public inspection copy of the form 990 prior to filing with the irs (schedule b is redacted from the copy reviewed by the board).

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

Portledge school has a written conflict of interest policy that it regularly monitors and enforces. The trustee is expected to disclose in writing the existence of the conflict if a conflict arises. The organization requires each trustee to sign and disclose any conflict each year to stay in compliance to ensure that they are exercising their duties to the organization in good faith. If a conflict should arise it will be reviewed by the governance committee. The governance committee will review the conflict and recommend to the board whether any action should be taken.

Form 990, Part VI, Section B, Line 15

The executive committee of the board of trustees reviews and determines compensation of the head of school. Market analysis is performed using comparability data from forms 990 of other organizations and industry surveys, including salary levels of member schools part of the new york state association of independent schools and national business officers association. The decisions are documented in the board minutes for records. This process is reviewed every three years. The other employees compensation is reviewed by the head of school with consultation of the chief financial officer. During this process, comparability date from the new york state association of independent schools and national business officers association is used in the process. This process was last undertaken in 2022.

Form 990, Part VI, Section C, Line 19

The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is also posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy, articles of incorporation and by-laws are also available upon written request.

Filing and Contact Details

Filer

Filer Name
Portledge School
EIN
11-6044973
Phone
5166711475
Address
355 DUCK POND ROAD, LOCUST VALLEY, NY 11560

Signing Officer

Name
Simon a Williams
Title
Head of School
Phone
5166711475
Signed
2023-12-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Simon a Williams
Formed
1965
Legal Domicile
Ny
Voting Board Members
18
Independent Board Members
16
Employees
307
Volunteers
49

Preparer

Firm
PKF O'CONNOR DAVIES ADVISORY LLC
Address
500 MAMARONECK AVENUE SUITE 301, HARRISON, NY 10528-1633
Preparer
Eva Mruk
Phone
9143818900
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

Earnings on the endowment funds shall be used to provide for buildings and grounds, faculty compensation and student scholarships.

PART X, LINE 2:

The school recognizes the effect of income tax positions only if those positions are more likely than not to be sustained. Management has determined that the school had no uncertain tax positions that would require financial statement recognition or disclosure. The school is no longer subject to examinations by the applicable taxing jurisdictions for years prior to june 30, 2020.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold reported on part viii, line 10b 125,566. Reclass of special event expenses to part viii, line 8b 109,712.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Reclass of tuition expense to part ix 4,292,315.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold reported on part viii, line 10b 125,566. Write off capital campaign pledges receivables 3,333. Reclass of special event expenses to part viii, line 8b 109,712.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Reclass of tuition expense to part ix 4,292,315.

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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 PORTLEDGE SCHOOL PROVIDES EDUCATIONAL SERVICES FOR NURSERY THROUGH GRADE 12 ACADEMIC INSTRUCTION, AFTER SCHOOL PROGRAMS THAT INCLUDE SPORTS, ARTS, AND TYPICALLY A SUMMER PROGRAM. HOWEVER DUE TO COVID-19 THE SUMMER PROGRAM WAS NOT OFFERED IN FISCAL YEAR 2023. DURING ITS FISCAL YEAR THE ORGANIZATION SERVED 544 STUDENTS.PORTLEDGE SCHOOL HAS THE FOLLOWING PROGRAMS:FOR CHILDREN IN PRE-KINDERGARTEN THROUGH EIGHTH GRADE, AFTER SCHOOL ADVENTURES PROVIDE MANY OPPORTUNITIES FOR CREATIVE LEARNING AND MAKING NEW FRIENDS BEYOND THE SCHOOL DAY. OUR SUMMER ADVENTURES PROGRAM IS OPEN TO PORTLEDGE AND NON-PORTLEDGE STUDENTS. THE PROGRAM OFFERINGS ARE WIDE AND VARIED AND COVER ATHLETICS, THE ARTS, TECHNOLOGY AND SCIENCE. NEW PROGRAMS ARE DEVELOPED CONTINUOUSLY TO MEET THE EXPANDING INTERESTS OF OUR STUDENTS, INCLUDING NANOTECHNOLOGY AT NEW YORK INSTITUTE OF TECHNOLOGY AND NEUROSCIENCE AT WINTHROP HOSPITAL FOR UPPER SCHOOL-AGE STUDENTS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR OF INFORMATION TECH
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IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR OF DEI
IRS990/Form990PartVIISectionAGrp/TitleTxt29MAINTENANCE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt30DIRECTOR OF HUMAN RESOURCES
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$42.4$19.6$22.8$27.7$27.3$0.35
2024Detailed filing. Detailed filing data is available for this year.$39.1$17.2$21.9$26.9$25.2$1.73
2023Detailed filing. Detailed filing data is available for this year.$35.8$16.1$19.7$24.7$23.8$0.84
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.2$14.8$18.4$24.2$22.4$1.80
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.7$13.5$17.2$24.4$21.6$2.79
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.5$12.9$15.6$24.1$22.6$1.44
2019Detailed filing. Detailed filing data is available for this year.$24.8$10.7$14.1$22.8$20.3$2.42
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.0$11.4$11.7$18.6$18.1$0.51
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.5$7.46$11.1$17.4$16.6$0.80
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.6$6.30$10.3$15.9$15.2$0.70
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.4$5.76$9.62$14.8$14.7$0.16
2014Detailed filing. Detailed filing data is available for this year.$14.5$4.95$9.60$15.3$13.8$1.49
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.4$4.28$8.12$12.5$12.0$0.52
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.6$3.04$7.52$11.7
2011Summary only. Only limited summary data is available for this year.$10.9$3.14$7.80$11.8$12.0$0.20
Peer Organizations

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