Civic Intelligence

The Brearley School

990 • Fiscal year 2016 • EIN 13-1623915

Jul 01, 2015 to Jun 30, 2016 • Filed on Jan 29, 2018

610 East 83rd StreetNY, NY 10028

(212) 744-8582

Siviq Scores

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

Liabilities / Assets

40th percentile

0.27x

Higher debt load relative to assets than 40% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2016

Liabilities / Revenue

82nd percentile

1.37x

Higher debt load relative to revenue than 82% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2016

Net Margin

88th percentile

25%

Higher net margin than 88% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2016

Top Officer Pay

51st percentile

$882,994

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2016

Asset Growth

91st percentile

21%

Faster asset growth than 91% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Revenue Growth

82nd percentile

12%

Faster revenue growth than 82% of similar nonprofits.

2016 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2015 to 2016

Assets

Up

$282,026,711

Up $48,112,582 (+21%) from 2015

Net Assets

Up

$205,846,678

Up $8,266,537 (+4.2%) from 2015

Liabilities

Up

$76,180,033

Up $39,846,045 (+110%) from 2015

Revenue

Up

$55,525,413

Up $6,106,188 (+12%) from 2015

Expenses

Up

$41,785,023

Up $950,444 (+2.3%) from 2015

Net Income

Up

$13,740,390

Up $5,155,744 (+60%) from 2015

Historical Trend

Balance Sheet Trend

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

$400M$300M$200M$100M$0Assets 2010: $174,880,225Liabilities 2010: $22,896,634Net Assets 2010: $151,983,5912010Assets 2011: $193,359,954Liabilities 2011: $24,820,955Net Assets 2011: $168,538,9992011Assets 2012: $189,721,796Liabilities 2012: $24,719,475Net Assets 2012: $165,002,3212012Assets 2013: $200,259,797Liabilities 2013: $26,284,372Net Assets 2013: $173,975,4252013Assets 2014: $215,680,979Liabilities 2014: $25,110,631Net Assets 2014: $190,570,3482014Assets 2015: $233,914,129Liabilities 2015: $36,333,988Net Assets 2015: $197,580,1412015Assets 2016: $282,026,711Liabilities 2016: $76,180,033Net Assets 2016: $205,846,6782016Assets 2017: $312,032,151Liabilities 2017: $78,684,497Net Assets 2017: $233,347,6542017Assets 2018: $337,072,908Liabilities 2018: $83,830,793Net Assets 2018: $253,242,1152018Assets 2019: $342,806,374Liabilities 2019: $84,109,774Net Assets 2019: $258,696,6002019Assets 2020: $343,206,429Liabilities 2020: $82,220,624Net Assets 2020: $260,985,8052020Assets 2021: $371,332,515Liabilities 2021: $75,735,618Net Assets 2021: $295,596,8972021Assets 2022: $343,264,245Liabilities 2022: $77,828,700Net Assets 2022: $265,435,5452022Assets 2023: $360,152,883Liabilities 2023: $84,225,391Net Assets 2023: $275,927,4922023Assets 2024: $384,095,633Liabilities 2024: $82,500,132Net Assets 2024: $301,595,5012024

Highlighted filing

2016

Assets$282,026,711
Liabilities$76,180,033
Net Assets$205,846,678

Operations Trend

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

$80M$60M$40M$20M$0-$20MExpenses 2010: $34,976,6782010Expenses 2011: $34,041,6532011Expenses 2012: $36,324,5942012Revenue 2013: $35,131,110Expenses 2013: $38,265,384Net Income 2013: -$3,134,2742013Revenue 2014: $39,478,878Expenses 2014: $38,838,837Net Income 2014: $640,0412014Revenue 2015: $49,419,225Expenses 2015: $40,834,579Net Income 2015: $8,584,6462015Revenue 2016: $55,525,413Expenses 2016: $41,785,023Net Income 2016: $13,740,3902016Revenue 2017: $65,566,824Expenses 2017: $43,885,960Net Income 2017: $21,680,8642017Revenue 2018: $60,055,207Expenses 2018: $45,679,279Net Income 2018: $14,375,9282018Revenue 2019: $50,772,548Expenses 2019: $45,881,885Net Income 2019: $4,890,6632019Revenue 2020: $67,256,418Expenses 2020: $49,361,241Net Income 2020: $17,895,1772020Revenue 2021: $54,677,601Expenses 2021: $54,227,793Net Income 2021: $449,8082021Revenue 2022: $64,261,143Expenses 2022: $53,511,201Net Income 2022: $10,749,9422022Revenue 2023: $56,120,331Expenses 2023: $57,579,179Net Income 2023: -$1,458,8482023Revenue 2024: $68,188,291Expenses 2024: $61,985,395Net Income 2024: $6,202,8962024

Highlighted filing

2016

Revenue$55,525,413
Expenses$41,785,023
Net Income$13,740,390
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jan 29, 2018
Return Version
2015v3.0
Gross Receipts
$63,829,937
Mission and Program Overview

Mission

The brearley school is a private educational institution in new york city that provides a quality education to girls in grades k-12.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$97,264,122$104,405,750▲ $7,141,628
Land, Buildings, and Equipment, Net$71,631,211$76,193,936▲ $4,562,725
Savings and Temporary Cash Investments$17,536,954$58,681,861▲ $41,144,907
Investments in Publicly Traded Securities$35,648,779$20,423,257▼ $15,225,522
Pledges and Grants Receivable$7,792,371$16,881,205▲ $9,088,834
Accounts Receivable$3,351,348$4,355,793▲ $1,004,445
Prepaid Expenses and Deferred Charges$443,127$540,284▲ $97,157
Cash and Non-Interest-Bearing Accounts$2,000$1,998▼ $2
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$233,914,129$282,026,711▲ $48,112,582
Other Assets Total$244,217$542,627▲ $298,410
Liabilities
Unsecured Notes Loans Payable$11,000,000$48,663,031▲ $37,663,031
Deferred Revenue$19,373,359$20,188,838▲ $815,479
Accounts Payable and Accrued Expenses$3,817,921$4,584,523▲ $766,602
Other Liabilities$2,142,708$2,743,641▲ $600,933
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$36,333,988$76,180,033▲ $39,846,045
Net Assets / Fund Balance
Unrestricted Net Assets$130,709,200$128,527,926▼ $2,181,274
Permanently Rstr Net Assets$47,952,182$50,263,270▲ $2,311,088
Temporarily Rstr Net Assets$18,918,759$27,055,482▲ $8,136,723
Total Net Assets Fund Balance$197,580,141$205,846,678▲ $8,266,537
Total Liabilities and Net Assets / Fund Balance$233,914,129$282,026,711▲ $48,112,582

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$64,010,272$14,602,517$78,612,789
Leasehold Improvements$9,130,492$12,770,198$21,900,690
Equipment$948,824$4,467,560$5,416,384
Land$2,104,348-$2,104,348
Other Securities$8,435,731--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$56,741,583$2,311,089▼ $886,756$2,088,783$55,989,595
2014$56,387,817$929,510▲ $1,368,902$1,653,185$56,741,583
2013$51,792,071$269,533▲ $6,336,275$1,690,807$56,387,817
2012$47,011,749$870,858▲ $5,871,794$1,609,160$51,792,071
2011$47,887,458$840,939▲ $157,378$1,589,555$47,011,749
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jane FriedHead of SchoolFT$708,252$174,742$882,994
Rahul TripathiCFO/COOFT$325,790$53,648$379,438
Anne BergenDirector of DevelopmentFT$257,451$32,423$289,874
Tammy ZazuriDirector of AthleticsFT$210,942$35,332$246,274
Evelyn Segal LiptonHead of Upper SchoolFT$200,182$35,076$235,258
Maria-anna ZimmermanHead of Lower SchoolFT$191,409$34,408$225,817
James E MulkinDean of Academic LifeFT$181,498$32,336$213,834
Carolyn ClarkDirector of College AdvisingFT$180,645$21,013$201,658

Highest Paid Contractors

ContractorServicesLocationCompensation
Adage Capital Partners LPInvestment Mgmt Fees200 CLAREDON STREET, Boston, MA 02116-0000$183,679
Adamas Opportunities LPInvestment Mgmt FeesTHE PILOT HOUSE AT LEWIS WHARF, Boston, MA 02110-0000$164,123
Adamas Partners LPInvestment Mgmt FeesTHE PILOT HOUSE AT LEWIS WHARF, Boston, MA 02110-0000$163,048
Rosenberg And Estis PCLaw Firm733 3rd AVENUE, New York, NY 10017$110,797
Eisneramper LLPAudit And Tax Srvcs750 THIRD AVENUE, New York, NY 10017-2503$105,126
Revenue and Support

Revenue Composition

Contributions and Grants
$19,883,839
Program Service Revenue
$31,714,326
Investment Income
$3,407,702
Other Revenue
$519,546
All Other Contributions
$19,331,810
Change in Net Assets
$13,740,390

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded57$1,307,564Fair Market Value (FMV)
Total Noncash Contributions57$1,307,564-

Audited Revenue Reconciliation

Revenue per Audited Statements
$48,836,539
Revenue Not Reported on Financial Statements
$6,688,874
Revenue Not Reported on Form 990
$-5,588,612
Other Revenue Adjustments
$6,258,872
Total Revenue per Audited Statements
$43,247,927
Total Revenue per Form 990
$55,525,413
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$26,338,052
Other Expenses$10,629,261
Grants and Similar Amounts Paid$4,787,540
Total Fundraising Expense$1,429,398
Professional Fundraising Fees$30,170

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$12,933,681$3,948,599$737,926$17,620,206
Grants to Domestic Individuals$4,787,540--$4,787,540
Other Employee Benefits$2,801,348$905,624$169,246$3,876,218
All Other Expenses$1,570,872$525,661$86,964$2,183,497
Pension Plan Contributions$1,383,687$422,434$78,946$1,885,067
Depreciation Depletion$1,221,445$372,902$69,689$1,664,036
Current Officers, Directors, Trustees, and Key Employees$1,096,069$334,625$62,536$1,493,230
Payroll Taxes$1,074,122$327,925$61,284$1,463,331
Interest-$1,308,931-$1,308,931
Occupancy$994,624$79,989-$1,074,613
Office Expenses$303,447$641,626$6,938$952,011
Information Technology$81,723$387,817-$469,540
Fees for Service Investment Mgmnt Fees-$430,002-$430,002
Travel$345,880$33,619$9,233$388,732
Fees for Services Other$30,013$134,686$45,316$210,015
Fees for Services Accounting-$112,126-$112,126
Fees for Services Legal-$111,136-$111,136
Conferences and Meetings$79,046$15,820$6,508$101,374
Other Expenses$265,551$95,433-$95,433
Advertising$11,362-$64,642$76,004
Fees for Services Professional Fundraising--$30,170$30,170
Total Functional Expenses$30,166,670$10,188,955$1,429,398$41,785,023

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$41,785,023
Total Expenses per Audited Statements$36,637,801
Expenses per Audited Statements$36,567,481
Expenses Not Reported on Financial Statements$5,217,542
Other Expense Adjustments$4,787,540
Expenses Not Reported on Form 990$70,320
International Activity

International Summary

Spending
$15,434,819

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
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestmentsNone--$9,837,188
East Asia and the PacificInvestmentsnone--$5,597,631
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$109,464
Fundraising Gross Income$109,464
Professional Fundraising Fees$30,170

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
2016 Benefit$533,795$109,464$26,871$82,593
Total Events$533,795$109,464$109,464-
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Obligation$1,939,845
Agency Funds$803,796
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
The Brearley School
EIN
13-1623915
In Care Of
% RAHUL TRIPATHI
Phone
2127448582
Address
610 EAST 83RD STREET, NY, NY 10028

Signing Officer

Name
Rahul Tripathi
Title
CFO/COO
Phone
2127448582
Signed
2018-01-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jane Foley Fried
Formed
1884
Legal Domicile
Ny
Voting Board Members
25
Independent Board Members
24
Employees
392
Volunteers
320

Preparer

Firm
Eisneramper Llp
Address
750 THIRD AVENUE, NEW YORK, NY 10017-2703
Preparer
Candice Meth
Phone
2129498700
Supplemental Narrative

Additional Explanations

Review of Form 990

Form 990, part vi, section b, line 11a the management of the school reviews the draft of the form 990. Upon its satisfaction, the governing body has designated its audit committee with the responsibility of reviewing the form 990 and reporting its review to the members of the executive commitee of the board for approval. The approved version of the form 990 is distributed to the board of trustees prior to its filing with the internal revenue service.

Monitoring of Conflict of Interest Policy

Form 990, part vi, section b, line 12c each member of the board of trustees and key members of management are required to sign an acknowledgement of compliance with the school's conflict of interest policy and to report any potential conflicts on an annual basis. This document is signed at the first board meeting of each year.

Determination of Compensation

Form 990, part vi, section b, line 15 the compensation of the head of school is determined by the board of trustees using comparability data collected and kept by an independent consultant. The compensation of other officers and key employees of the school is determined through a review of data from comparable educational institutions and reviewed and approved by the board of trustees as a part of the overall budget process.

Availability of Governing Documents

Form 990, part vi, section c, line 19 the brearley school's governing documents and financial information, with the exception of its federal form 990, are not available to the public.

Reconciliation of Net Assets

Form 990, part xi, line 9 - other changes in net assets or fund balances: change in value of split interest agreements $(1,471,332) change in value of post-retirement benefits $( 165,035) loss on uncollectible pledges $( 70,320) ------------ total $(1,706,687) ============

Form 990 - Amended Return

The form 990 for the school's fiscal year july 1, 2015 through june 30, 2016 is amended to appropriately report $162,177 of deferred compensation paid to the head of school on form 990, schedule j, part ii, in column f "compensation in column (b)reported as deferred on prior form 990".

Financial Statement Notes

Endowment Funds

Part v, line 4 the endowment consists of 140 individual funds established for a variety of purposes designated by donors to be permanently restricted endowment funds.

Income Taxes

Part x, line 2 the school is subject to the provisions of the financial accounting standards board's (the "fasb") accounting standards codification("asc") topic 740, income taxes, relating to accounting and reporting for uncertainty in income taxes. For the school, these provisions could be applicable to the incurrence of unrelated business income tax attributable to certain of the school's investments. However, due to the school's general tax-exempt status, management believes that asc topic 740 has not had, and is not expected to have, a material impact on the school's consolidated financial statements.

Reconciliation of Revenue and Expenses

Form 990, schedule d, part xi, line 4b: change in value of split interest agreements $1,471,332 scholarships netted against revenue for financial statement reporting purposes $4,787,540 ---------- total $6,258,872 ========== form 990, schedule d, part xii, line 2d loss on uncollectible pledges $ 70,320 ========== form 990, schedule d, part xii, line 4b: scholarships netted against revenue for financial statement reporting purposes $4,787,540 ==========

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IRS990/Desc0THE BREARLEY SCHOOL CHALLENGES GIRLS OF ADVENTUROUS INTELLECT TO THINK CRITICALLY AND CREATIVELY AND PREPARES THEM FOR ACTIVE, RESPONSIBLE CITIZENSHIP IN A DEMOCRATIC SOCIETY. WITHIN A DIVERSE COMMUNITY AND IN PARTNERSHIP WITH DEDICATED FACULTY WHO TEACH ACROSS THREE DIVISIONS, STUDENTS IN CLASSES K THROUGH XII DEVELOP A COMMAND OF MANY DISCIPLINES AND A LOVE OF LEARNING THROUGH THE PASSIONATE EXCHANGE OF IDEAS. ENCOURAGING GIRLS TO BALANCE INDIVIDUALITY AND COLLABORATION FURTHER PROMOTES THE INTEGRITY ESSENTIAL TO PRINCIPLED ENGAGEMENT IN THE WORLD.
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IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt23TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt25CFO/COO
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR OF DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR OF ATHLETICS
IRS990/Form990PartVIISectionAGrp/TitleTxt28HEAD OF UPPER SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt29HEAD OF LOWER SCHOOL

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$384$82.5$302$68.2$62.0$6.20
2023Detailed filing. Detailed filing data is available for this year.$360$84.2$276$56.1$57.6$1.46
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$343$77.8$265$64.3$53.5$10.7
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$371$75.7$296$54.7$54.2$0.45
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$343$82.2$261$67.3$49.4$17.9
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$343$84.1$259$50.8$45.9$4.89
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$337$83.8$253$60.1$45.7$14.4
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$312$78.7$233$65.6$43.9$21.7
2016Detailed filing. Detailed filing data is available for this year.$282$76.2$206$55.5$41.8$13.7
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$234$36.3$198$49.4$40.8$8.58
2014Detailed filing. Detailed filing data is available for this year.$216$25.1$191$39.5$38.8$0.64
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$200$26.3$174$35.1$38.3$3.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$190$24.7$165$36.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$193$24.8$169$34.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$175$22.9$152$35.0
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)3 • $250M-$1B nonprofits