Civic Intelligence

Far Brook School

990 • Fiscal year 2014 • EIN 22-1487185

Jul 01, 2013 to Jun 30, 2014 • Filed on Nov 15, 2014

52 Great Hills RoadSuite07078

(973) 379-3442

Siviq Scores

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

Liabilities / Assets

31st percentile

0.09x

Higher debt load relative to assets than 31% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

41st percentile

0.17x

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

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Net Margin

55th percentile

4.4%

Higher net margin than 55% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

86th percentile

$375,533

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 4.4% of source-year revenue.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Asset Growth

54th percentile

4.5%

Faster asset growth than 54% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Up

$17,429,684

Up $750,726 (+4.5%) from 2013

Net Assets

Up

$15,937,422

Up $757,457 (+5.0%) from 2013

Liabilities

Down

$1,492,262

Down $6,731 (-0.4%) from 2013

Revenue

$8,589,435

No earlier filing loaded for comparison.

Expenses

Up

$8,213,289

Up $240,016 (+3.0%) from 2013

Net Income

$376,146

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2011: $12,489,760Liabilities 2011: $1,178,680Net Assets 2011: $11,311,0802011Assets 2012: $12,230,388Liabilities 2012: $1,089,811Net Assets 2012: $11,140,5772012Assets 2013: $16,678,958Liabilities 2013: $1,498,993Net Assets 2013: $15,179,9652013Assets 2014: $17,429,684Liabilities 2014: $1,492,262Net Assets 2014: $15,937,4222014Assets 2015: $22,483,230Liabilities 2015: $5,595,383Net Assets 2015: $16,887,8472015Assets 2016: $26,123,424Liabilities 2016: $8,173,188Net Assets 2016: $17,950,2362016Assets 2017: $24,746,080Liabilities 2017: $6,341,773Net Assets 2017: $18,404,3072017Assets 2018: $24,279,186Liabilities 2018: $6,175,534Net Assets 2018: $18,103,6522018Assets 2019: $24,718,108Liabilities 2019: $6,065,725Net Assets 2019: $18,652,3832019Assets 2020: $25,225,751Liabilities 2020: $6,689,507Net Assets 2020: $18,536,2442020Assets 2021: $27,582,442Liabilities 2021: $6,150,720Net Assets 2021: $21,431,7222021Assets 2022: $26,977,636Liabilities 2022: $6,532,851Net Assets 2022: $20,444,7852022Assets 2023: $28,719,978Liabilities 2023: $6,468,271Net Assets 2023: $22,251,7072023Assets 2024: $30,320,372Liabilities 2024: $6,394,697Net Assets 2024: $23,925,6752024

Highlighted filing

2014

Assets$17,429,684
Liabilities$1,492,262
Net Assets$15,937,422

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2011: $7,280,7932011Expenses 2012: $7,539,0652012Expenses 2013: $7,973,2732013Revenue 2014: $8,589,435Expenses 2014: $8,213,289Net Income 2014: $376,1462014Revenue 2015: $9,862,283Expenses 2015: $8,820,128Net Income 2015: $1,042,1552015Revenue 2016: $10,556,127Expenses 2016: $9,404,910Net Income 2016: $1,151,2172016Revenue 2017: $9,467,035Expenses 2017: $9,638,484Net Income 2017: -$171,4492017Revenue 2018: $9,312,269Expenses 2018: $9,913,388Net Income 2018: -$601,1192018Revenue 2019: $10,515,065Expenses 2019: $10,225,955Net Income 2019: $289,1102019Revenue 2020: $9,519,463Expenses 2020: $9,823,322Net Income 2020: -$303,8592020Revenue 2021: $11,063,264Expenses 2021: $9,946,175Net Income 2021: $1,117,0892021Revenue 2022: $11,768,545Expenses 2022: $11,153,738Net Income 2022: $614,8072022Revenue 2023: $12,608,743Expenses 2023: $11,609,671Net Income 2023: $999,0722023Revenue 2024: $13,817,708Expenses 2024: $12,959,408Net Income 2024: $858,3002024

Highlighted filing

2014

Revenue$8,589,435
Expenses$8,213,289
Net Income$376,146
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Nov 15, 2014
Return Version
2013v4.0
Gross Receipts
$13,874,712
Mission and Program Overview

Mission

Co-educational independent day school providing education to students in grades nursery through grade 8. Our purpose is to create a supportive and caring community that cherishes love of learning, creativity, and individuality.

Co-ed independent day school providing education to students in grades nursery through grade 8.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,056,569$4,810,159▲ $753,590
Investments in Publicly Traded Securities$6,791,472$4,401,118▼ $2,390,354
Cash and Non-Interest-Bearing Accounts$831,961$3,770,545▲ $2,938,584
Pledges and Grants Receivable$3,437,429$3,192,595▼ $244,834
Investments Other Securities$1,431,400$931,136▼ $500,264
Prepaid Expenses and Deferred Charges$120,912$321,665▲ $200,753
Accounts Receivable$9,215$2,466▼ $6,749
Savings and Temporary Cash Investments$0$0→ $0
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$16,678,958$17,429,684▲ $750,726
Other Assets Total$0$0→ $0
Liabilities
Deferred Revenue$771,658$882,211▲ $110,553
Accounts Payable and Accrued Expenses$627,335$342,051▼ $285,284
Other Liabilities$0$168,000▲ $168,000
Mortgage Notes Payable Secured by Investment Property$100,000$100,000→ $0
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$1,498,993$1,492,262▼ $6,731
Net Assets / Fund Balance
Unrestricted Net Assets$7,034,873$7,946,231▲ $911,358
Temporarily Rstr Net Assets$4,498,065$4,317,255▼ $180,810
Permanently Rstr Net Assets$3,647,027$3,673,936▲ $26,909
Total Net Assets Fund Balance$15,179,965$15,937,422▲ $757,457
Total Liabilities and Net Assets / Fund Balance$16,678,958$17,429,684▲ $750,726

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,992,978$3,417,896$6,410,874
Other Land Buildings$1,681,774-$1,681,774
Equipment$62,107$377,295$439,402
Land$73,300-$73,300
Other Securities$931,136--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$5,023,213$26,909▲ $587,721$193,017$5,444,826
2012$4,690,150$34,721▲ $431,264$132,922$5,023,213
2011$4,806,021$14,283▲ $39,446$126,419$4,690,150
2010$4,317,936$23,004▲ $629,879$122,216$4,806,021
2009$3,708,759$6,449▲ $769,509$122,464$4,317,936
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Amy ZiebarthHead of SchoolFT$286,026$89,507$375,533
Tony StovallTreasurerPT$311,026$64,507$375,533
Donna ChahalisDirector of Business and FinanceFT$152,430$16,196$168,626
Chris SuskoTrusteePT$152,430$16,196$168,626
Tom KligermanTrusteePT$134,367$14,302$148,669
Carmine FanelletrusteeePT$120,041$26,444$146,485
Bradford Wiley IITrusteePT$112,029$26,836$138,865
Michelle SwittenbergSecretaryPT$108,407$29,544$137,951
Leah KronthalTrusteePT$62,631$16,424$79,055

Board Members and Trustees

NameTitle
Tommaso ZanobiniChair
Robert KellyVice Chair
Mary E LaceyDirector of Admissions
Suzanne GlattDirector of Development
Paula LevinDirector of Lower School
James BenzDirector of Upper Schools
Anne-Marie KimTrustee
Chris BurnsTrustee
Elyse N PostTrustee
Krissy MannelloTrustee
Mary Sue FisherTrustee
Marybeth LeitheadTrustee
Megan McCall mARTINTrustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Centerbrook ArchitectsDesign Of Buildings-$971,630
Classic ConstructionConstruction-$168,945
Wilmot Modular Structures INCBuilding Service-$139,181
Prisco Construction Group LLCConstruction-$110,806
MindshiftTechnology-$103,866
Revenue and Support

Revenue Composition

Contributions and Grants
$1,462,612
Program Service Revenue
$6,985,823
Investment Income
$95,157
Other Revenue
$45,843
All Other Contributions
$1,462,612
Change in Net Assets
$376,146

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 Traded10$45,854Fair Market Value
Total Noncash Contributions10$45,854-

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,029,070
Revenue Not Reported on Financial Statements
$560,365
Revenue Not Reported on Form 990
$381,311
Other Revenue Adjustments
$560,365
Total Revenue per Audited Statements
$8,410,381
Total Revenue per Form 990
$8,589,435
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,937,510
Other Expenses$1,462,817
Grants and Similar Amounts Paid$712,610
Total Fundraising Expense$508,558
Professional Fundraising Fees$100,352

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,132,941$795,850$258,550$4,187,341
Other Employee Benefits$573,006$129,428$38,765$741,199
Grants to Domestic Individuals$712,610--$712,610
Current Officers, Directors, Trustees, and Key Employees$70,000$299,000-$369,000
Payroll Taxes$233,987$68,092$23,270$325,349
Pension Plan Contributions$209,150$86,080$19,391$314,621
Occupancy$257,205$28,835$8,490$294,530
Depreciation Depletion$106,250$51,245$9,201$166,696
Information Technology$95,501$39,232$7,839$142,572
Fees for Services Professional Fundraising--$100,352$100,352
Other Expenses$97,778--$97,778
All Other Expenses$61,802$17,277$14,784$93,863
Office Expenses$54,000$28,744$7,735$90,479
Conferences and Meetings$57,654$13,490$1,875$73,019
Insurance-$59,167-$59,167
Advertising-$19,253$18,306$37,559
Fees for Service Investment Mgmnt Fees-$28,550-$28,550
Fees for Services Accounting-$9,683-$9,683
Fees for Services Legal-$8,128-$8,128
Interest-$1,720-$1,720
Total Functional Expenses$6,020,957$1,683,774$508,558$8,213,289

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$8,213,289
Expenses per Audited Statements$7,652,924
Total Expenses per Audited Statements$7,652,924
Expenses Not Reported on Financial Statements$560,365
Other Expense Adjustments$560,365
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$100,352
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
Contribution in Advance$168,000
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
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
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

FORM 990, PART VI,SECTION A, Line 6:

The school's members are the parents and legal guardians of the children enrolled in the school.

FORM 990, PART VI, SECTION A, Line 7A:

These members elect the board of trustees annually.

FORM 990,PART VI, SECTION A, Line 7B:

The school's bylaws provide members with the right to vote with respect to (a) the election and recall of trustees; (b) amendments to the bylaws; and (c) amendments to the certificate of incorporation.

FORM 990, PART VI, SECTION B, Line 11:

The audit committee and treasurer review the 990 and recommends for board approval.

FORM 990, PART VI, SECTION B, Line 12C:

The board has a conflict of interest policy for its members which requires written disclosure each year of actual and potential conflicts based on definitions contained in the policy. There is an ongoing obligation to update disclosures if circumstances change.

FORM 990, PART VI, SECTION B, Line 15:

The board reviews and sets compensation for the organization's head. The board and management review and set compensation for all other positions in a process that considers comparable pay data.

FORM 990, PART VI, SECTION C, Line 19:

The organization makes its annual report, which includes financial statements, available to the public upon request. The organization's governing documents and conflict of interest policy are made available to its members upon request.

Filing and Contact Details

Filer

EIN
22-1487185
In Care Of
% DONNA CHAHALIS
Phone
9733793442

Signing Officer

Name
Bob Kelly
Title
treasurer
Phone
9733793442
Signed
2014-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tommaso Zanobini
Formed
1948
Legal Domicile
Nj
Voting Board Members
16
Independent Board Members
15
Employees
83
Volunteers
300

Preparer

Preparer
Richard a Sackin
Phone
9733793442
Supplemental Narrative

Additional Explanations

DESCRIPTION OF ORGANIZATION MISSION:

Our purpose is to create a supportive and caring community that cherishes love of learning, creativity, and individuality.

FORM 990, PART XII, Line 2C:

There have been no changes to these processes during the tax year.

Financial Statement Notes

OTHER ADJUSTMENTS:

Financial aid expenses not included on form 990, part viii, line 2g 712,610 loss on disposal of fixed asset (152,245)

OTHER ADJUSTMENTS:

Additional expense when including financial aid expense 712,610 loss on disposal of fixed asset (152,245)

PART V, LINE 4:

Endowment assets include those assets of donor-restricted funds that the school must hold in perpetuity as well as board-designated funds. The investment objective of the endowment funds is to earn an expected return that will (i) cover the desired annual allocation to the operating budget (as determined by the board of trustees), expected inflation, and investment fees and (ii) provide long-term principal appreciation.

PART X, LINE 2:

Accounting for uncertainty in income taxes clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements, management has analyzed the tax positions taken by the school and has concluded that as of june 30, 2014 and 2013, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability disclosure in the finanical statements. The school recognizes accrued interest and penalties associated with uncertain tax positions, if any. There were no income tax-related interest and penalties recorded for year ended june 30, 2014 and 2013. The income tax returns of the school for june 30, 2013, 2012 and 2011 are subject to examination by the irs and other various taxing authorities, generally for three years after they were filed.

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IRS990/Desc0EDUCATION - A FAR BROOK EDUCATION TAKES PLACE IN AN ENVIRONMENT OF NATURAL BEAUTY AND INTIMACY, WHERE CHARACTER AND CITIZENSHIP ARE VALUED AS MUCH AS ACHIEVEMENT, PROCESS AS MUCH AS PRODUCT. IMPLICIT IN OUR PHILOSOPHY IS THE GOAL OF BRINGING STUDENTS TO THEIR HIGHEST LEVEL OF ACADEMIC AND PERSONAL COMPETENCY, BOTH FOR THEIR PRESENT AND IN PREPARATION FOR THEIR FUTURE EDUCATION. IT IS OUR DESIRE TO TOUCH THE LIFE OF EVERY CHILD SO THAT HE OR SHE MAY LIVE LIFE WISELY AND WITH GREAT JOY. GRANTS-FAR BROOK AWARDS FINANCIAL AID TO QUALIFIED FAMILIES. THESE REPRESENT A DIRECT REDUCTION IN TUITION CHARGES AND PAYMENTS OTHERWISE OWED TO THE SCHOOL. THEY DO NOT TAKE THE FORM OF PAYMENTS TO THE RECIPIENTS.
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IRS990/Form990PartVIISectionAGrp/PersonNm3Carmine Fanelle
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IRS990/Form990PartVIISectionAGrp/PersonNm5Tom Kligerman
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IRS990/Form990PartVIISectionAGrp/TitleTxt3trusteee
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
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IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt11Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt12Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt13VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt14Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16Head of School
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIR OF UPPER SCHOOLS
IRS990/Form990PartVIISectionAGrp/TitleTxt18Dir. of Business and Finance
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIR OF LOWER SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt20Dir. of Admissions
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIR OF DEVELOPMENT
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IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0CO-EDUCATIONAL INDEPENDENT DAY SCHOOL PROVIDING EDUCATION TO STUDENTS IN GRADES NURSERY THROUGH GRADE 8. OUR PURPOSE IS TO CREATE A SUPPORTIVE AND CARING COMMUNITY THAT CHERISHES LOVE OF LEARNING, CREATIVITY, AND INDIVIDUALITY.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.3$6.39$23.9$13.8$13.0$0.86
2023Summary only. Only limited summary data is available for this year.$28.7$6.47$22.3$12.6$11.6$1.00
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.0$6.53$20.4$11.8$11.2$0.61
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.6$6.15$21.4$11.1$9.95$1.12
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.2$6.69$18.5$9.52$9.82$0.30
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.7$6.07$18.7$10.5$10.2$0.29
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.3$6.18$18.1$9.31$9.91$0.60
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.7$6.34$18.4$9.47$9.64$0.17
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.1$8.17$18.0$10.6$9.40$1.15
2015Detailed filing. Detailed filing data is available for this year.$22.5$5.60$16.9$9.86$8.82$1.04
2014Detailed filing. Detailed filing data is available for this year.$17.4$1.49$15.9$8.59$8.21$0.38
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.7$1.50$15.2$7.97
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.2$1.09$11.1$7.54
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.5$1.18$11.3$7.28