Civic Intelligence

The Agnes Irwin School

990 • Fiscal year 2015 • EIN 23-1352650

Jul 01, 2014 to Jun 30, 2015 • Filed on Feb 05, 2016

Refreshing map…

P O Box 407Rosemont, PA 19010

(610) 525-8400

Siviq Scores

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

Liabilities / Assets

48th percentile

0.29x

Higher debt load relative to assets than 48% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

73rd percentile

1.05x

Higher debt load relative to revenue than 73% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Net Margin

33rd percentile

0.2%

Higher net margin than 33% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

41st percentile

$285,625

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Asset Growth

13th percentile

-5.5%

Faster asset growth than 13% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

16th percentile

-12%

Faster revenue growth than 16% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Assets

Down

$96,314,042

Down $5,559,276 (-5.5%) from 2014

Net Assets

Down

$68,262,316

Down $1,083,576 (-1.6%) from 2014

Liabilities

Down

$28,051,726

Down $4,475,700 (-14%) from 2014

Revenue

Down

$26,788,990

Down $3,811,490 (-12%) from 2014

Expenses

Up

$26,734,488

Up $1,970,143 (+8.0%) from 2014

Net Income

Down

$54,502

Down $5,781,633 (-99%) from 2014

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2011: $59,460,268Liabilities 2011: $15,493,545Net Assets 2011: $43,966,7232011Assets 2012: $69,849,253Liabilities 2012: $18,101,133Net Assets 2012: $51,748,1202012Assets 2013: $92,243,049Liabilities 2013: $29,356,387Net Assets 2013: $62,886,6622013Assets 2014: $101,873,318Liabilities 2014: $32,527,426Net Assets 2014: $69,345,8922014Assets 2015: $96,314,042Liabilities 2015: $28,051,726Net Assets 2015: $68,262,3162015Assets 2016: $91,352,197Liabilities 2016: $25,042,908Net Assets 2016: $66,309,2892016Assets 2017: $90,113,414Liabilities 2017: $23,084,064Net Assets 2017: $67,029,3502017Assets 2018: $89,935,872Liabilities 2018: $22,593,521Net Assets 2018: $67,342,3512018Assets 2019: $86,620,302Liabilities 2019: $19,628,160Net Assets 2019: $66,992,1422019Assets 2020: $86,948,544Liabilities 2020: $21,161,446Net Assets 2020: $65,787,0982020Assets 2021: $93,641,115Liabilities 2021: $18,692,331Net Assets 2021: $74,948,7842021Assets 2022: $104,621,078Liabilities 2022: $33,361,613Net Assets 2022: $71,259,4652022Assets 2023: $109,950,977Liabilities 2023: $35,118,486Net Assets 2023: $74,832,4912023

Highlighted filing

2015

Assets$96,314,042
Liabilities$28,051,726
Net Assets$68,262,316

Operations Trend

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

$40M$30M$20M$10M$0-$10MExpenses 2011: $20,192,0192011Expenses 2012: $21,194,1342012Expenses 2013: $21,737,1352013Revenue 2014: $30,600,480Expenses 2014: $24,764,345Net Income 2014: $5,836,1352014Revenue 2015: $26,788,990Expenses 2015: $26,734,488Net Income 2015: $54,5022015Revenue 2016: $24,806,567Expenses 2016: $25,764,179Net Income 2016: -$957,6122016Revenue 2017: $25,841,830Expenses 2017: $25,798,577Net Income 2017: $43,2532017Revenue 2018: $26,406,268Expenses 2018: $26,676,216Net Income 2018: -$269,9482018Revenue 2019: $25,937,307Expenses 2019: $26,871,073Net Income 2019: -$933,7662019Revenue 2020: $24,647,956Expenses 2020: $26,796,854Net Income 2020: -$2,148,8982020Revenue 2021: $30,419,162Expenses 2021: $27,755,116Net Income 2021: $2,664,0462021Revenue 2022: $32,209,621Expenses 2022: $26,942,636Net Income 2022: $5,266,9852022Revenue 2023: $26,631,647Expenses 2023: $28,926,426Net Income 2023: -$2,294,7792023

Highlighted filing

2015

Revenue$26,788,990
Expenses$26,734,488
Net Income$54,502
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Feb 5, 2016
Return Version
2014v6.0
Gross Receipts
$27,158,207
Mission and Program Overview

Mission

To foster the intellectual and personal growth of girls and young women.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$60,334,804$58,950,098▼ $1,384,706
Investments Other Securities$21,704,154$20,349,869▼ $1,354,285
Pledges and Grants Receivable$8,994,895$6,210,307▼ $2,784,588
Savings and Temporary Cash Investments$5,742,431$4,971,487▼ $770,944
Investments in Publicly Traded Securities$844,053$905,117▲ $61,064
Prepaid Expenses and Deferred Charges$277,926$835,417▲ $557,491
Accounts Receivable$66,702$119,781▲ $53,079
Inventories for Sale or Use$83,593$68,590▼ $15,003
Cash and Non-Interest-Bearing Accounts$334$22,075▲ $21,741
Total Assets$101,873,318$96,314,042▼ $5,559,276
Other Assets Total$3,824,426$3,881,301▲ $56,875
Liabilities
Mortgage Notes Payable Secured by Investment Property$17,871,162$13,657,099▼ $4,214,063
Tax Exempt Bond Liabilities$8,585,000$8,320,000▼ $265,000
Deferred Revenue$2,180,601$2,099,810▼ $80,791
Other Liabilities$1,817,936$2,027,127▲ $209,191
Accounts Payable and Accrued Expenses$2,072,727$1,947,690▼ $125,037
Total Liabilities$32,527,426$28,051,726▼ $4,475,700
Net Assets / Fund Balance
Unrestricted Net Assets$52,348,172$51,471,831▼ $876,341
Permanently Rstr Net Assets$12,883,197$12,889,978▲ $6,781
Temporarily Rstr Net Assets$4,114,523$3,900,507▼ $214,016
Total Net Assets Fund Balance$69,345,892$68,262,316▼ $1,083,576
Total Liabilities and Net Assets / Fund Balance$101,873,318$96,314,042▼ $5,559,276

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$56,598,608$13,499,969$70,098,577
Equipment$1,072,477$8,216,294$9,288,771
Leasehold Improvements$939,804$279,978$1,219,782
Other Land Buildings$339,209$378,501$717,710
Other Securities$20,349,869--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$22,443,363$50,605▼ $282,200$1,061,560$21,150,208
2013$20,756,071$93,811▲ $2,627,321$1,033,840$22,443,363
2012$22,414,212$136,462▲ $2,248,676$4,043,279$20,756,071
2011$21,163,394$3,105,387▼ $943,229$911,340$22,414,212
2010$18,233,695$58,911▲ $3,841,488$970,700$21,163,394
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Mary SeppalaFormer Head of SchoolFT$190,550$95,075$285,625
Dr Wendy L HillHead of SchoolFT$200,000$65,638$265,638
Kevin McculloughDirector of Finance & FacilitiesFT$190,430$27,455$217,885
Joanne HoffmanDirector of Upper SchoolFT$140,155$11,273$151,428
Margaret WelshDirector of DevelopmentFT$130,406$15,168$145,574
Neil MaleyFacilities Project ManagerFT$131,830$12,804$144,634
Lynne MyavecDirector of Middle SchoolFT$128,485$15,056$143,541
Sheila PauleyDirector of AthleticsFT$127,560$14,320$141,880

Highest Paid Contractors

ContractorServicesLocationCompensation
Williamson Hospitality Ser INCCatering/food Service97 GREAT VALLEY PARKWAY, Malvern, PA 19355$230,876
Northeast Executive Abstract AgencyTitle/escrow479 OLD YORK ROAD, Jenkintown, PA 19046$225,000
E B Mahoney Builders INCConstruction718 WEST LANCASTER AVE, Bryn Mawr, PA 19010$217,741
American Services CorpCleaning ServicesTHE ASC BUILDING 2241 PROVIDENCE AV, Chester, PA 19013$162,434
Cal First National BankLeasesATTN ACCOUNTS RECEIVABLE PO BOX 25, Santa Ana, CA 92707-0509$130,001
Revenue and Support

Revenue Composition

Contributions and Grants
$3,770,918
Program Service Revenue
$21,429,994
Investment Income
$1,311,530
Other Revenue
$276,548
All Other Contributions
$3,623,379
Change in Net Assets
$54,502

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded14$200,716Nyse Value
Books and Publications-$89,114Purchase Price
Total Noncash Contributions14$289,830-

Audited Revenue Reconciliation

Revenue per Audited Statements
$26,783,450
Revenue Not Reported on Financial Statements
$5,540
Revenue Not Reported on Form 990
$-4,581,878
Other Revenue Adjustments
$5,540
Total Revenue per Audited Statements
$22,201,572
Total Revenue per Form 990
$26,788,990
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$14,695,979
Other Expenses$8,594,709
Grants and Similar Amounts Paid$3,443,800
Total Fundraising Expense$2,292,459
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,198,752$2,569,445$1,108,090$10,876,287
Grants to Domestic Individuals$3,443,800--$3,443,800
Depreciation Depletion$2,108,527$454,565$111,424$2,674,516
Other Employee Benefits$819,848$566,024$75,087$1,460,959
All Other Expenses$680,127$556,037$104,842$1,341,006
Current Officers, Directors, Trustees, and Key Employees-$963,702-$963,702
Payroll Taxes$502,272$252,961$78,190$833,423
Fees for Services Other$313,583$295,760$77,556$686,899
Occupancy$497,148$86,700$26,682$610,530
Pension Plan Contributions$386,691$124,447$50,470$561,608
Information Technology$197,086$266,333-$463,419
Office Expenses$102,550$125,468$98,646$326,664
Interest-$263,285-$263,285
Other Expenses$288,069$121,540$257,236$257,236
Insurance$148,008$57,959$7,821$213,788
Travel--$106,415$106,415
Total Functional Expenses$17,737,803$6,704,226$2,292,459$26,734,488

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$26,734,488
Total Expenses per Audited Statements$23,283,165
Expenses per Audited Statements$23,105,425
Expenses Not Reported on Financial Statements$3,629,063
Other Expense Adjustments$3,629,063
Expenses Not Reported on Form 990$177,740
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$268,269
Fundraising Direct Expenses$146,893
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Winterfest$206,911$170,786$36,508$134,278
Golf Outing$52,775$30,475$5,936$24,539
Total Events$326,694$268,269$146,893$121,376
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Post Retirement Cost$2,027,127

Bond Issues

BondIssuerIssuedIssue PricePurpose
ADelaware County Industrial Development Authority2003-10-01$11,000,000SEE SCHEUDLE O

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$11,000,000-$2,680,000$186,860

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
Corrective action procedures
Yes
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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Robert mcneil and joanna mcneil lewis have a family relationship.

Form 990, Part VI, Section B, Line 11

The form 990 is initially reviewed by the controller, and the director of finance, and administration. Once initial approval has occured, the return is then presented to the audit committee for review and approval. The full board of directors then receives the return for review and approval for a two week period. Once the two week comments period has ended, the return is then finalized and submitted to the irs.

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

Trustees and employees are required to re-evaluate and disclose any conflict of interest on an annual basis. The trustees' manual includes a code of ethics and all board members, officers, and key employees are required to sign the business code of ethics policy annually. Board members, officers, and key employees abstain from any decisions and or involvement in transactions in which a conflict of interest may be present. The board as a whole, led by the chairman, monitors the policy and any potential or real conflicts.

Form 990, Part VI, Section B, Line 15

The board of trustees' compensation committee reviews comparative statistics in order to determine compensation for the head of school with the assistance of an independent consultant. Salaries are benchmarked with other, similar organizations, to ensure compensation is within fair market range for the industry. All salary discussions are documented in board minutes. The head of school reviews and approves compensation for the other key employees using similar market studies and salary surveys to ensure key employees' compensation is within fair market range for the industry. The head of school reviews and approves for all other employees.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
The Agnes Irwin School
EIN
23-1352650
Phone
6105258400
Address
P O BOX 407, ROSEMONT, PA 19010

Signing Officer

Name
Kevin Mccullough
Title
Director of Finance and Facilities
Phone
6105258400
Signed
2016-02-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Mccullough
Formed
1869
Legal Domicile
Pa
Voting Board Members
33
Independent Board Members
27
Employees
376
Volunteers
421

Preparer

Firm
Cliftonlarsonallen Llp
Address
610 W GERMANTOWN PIKE STE 400, PLYMOUTH MEETING, PA 19462
Preparer
Bruce Braunewellcpa
Phone
2156433900
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 1

The agnes irwin school empowers girls to learn, to lead, and to live a legacy. Agnes irwin provides girls with a deep foundation in the humanities, mathematics and science, wellness and athletics. In an inclusive setting that values diversity, students develop skills in critical and analytical thinking,self-expressing, effective communication, and collaboration. A rich and varied approach to instruction, team and individual endeavors, inquiry, and assessment enables girls to solve problems, design solutions, create meaning, and prepare for a complex and challenging world. We believe that all girls and young women have the capacity to lead and that leadership can take many forms. Therefore, through our instruction, our community interations, and our daily choices, we affirm this belief and provide an environment that challenges girls to develop the core values of leadership, empathy, integrity, resilience, independent thinking, and commitment to action. Agnes irwin students are a part of the global community of girls and women. They are the trustees of our school's heritage and traditions. By adopting values that foster equity, justice, social responsibility, civic mindedness, and integrity, and by nurturing positive relationships and intentional decision making, our students and alumnae engage in bold and meaningful ways to impact our interconnected world.

FORM 990, PART XI, LINE 9:

Change in split interest agreement 424,893. Change in beneficial interest trust -22,576.

Form 990, Part XII, Line 2C

The process has not changed from the prior year.

Schedule K, Part I, Line A, Column F

Financing or refinancing of all or any portion of the costs of acquisition, construction, equipping and imporvement of the capital projects including the financing of the costs of issuance of the bonds and the establishment of reserve funds.

Financial Statement Notes

PART V, LINE 4:

The school's endowment funds are used to provide income in support of faculty salaries, sabbaticals, professional development, and retirement, academic chairpersons, financial aid, community service, curriculum enrichment, visiting lectures and library services.

PART X, LINE 2:

The school is a non-profit organization which has been determined by the internal revenue service to be exempt from federal income taxes under section 501(c)(3) of the internal revenue code. Accordingly, no provision for income taxes has been made in the accompanying financial statements. The school accounts for uncertainties in income taxes in accordance with authoritative guidance, which prescribes a recognition threshold of more-likely-than-not to be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold has been met. The school's policy is to recognize interest related to unrecognized tax benefits in interest expense and penalties in operating expenses.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in split interest 424,893. Change in beneficial interest in perpetual trust -22,576. Financial aid -3,443,800.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Parents council revenue 327,596. Alumnae association revenue 2,577. Cost of goods sold -142,335. Rental expense -35,405. Fundraising expenses -146,893.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Rental expense 35,405. Cost of goods sold 142,335.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid 3,443,800. Parents' council expenses 183,482. Alumnae association expenses 1,781.

Raw XML AppendixShowing 400 of 1,009 raw XML fields

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 AGNES IRWIN SCHOOL, A NON-DENOMINATIONAL ALL-GIRLS COLLEGE PREPARATORY SCHOOL FOR GRADES PRE-K THROUGH 12, FOSTERS THE INTELLECTUAL, AND PERSONAL GROWTH OF GIRLS AND YOUNG WOMEN THROUGH A RIGOROUS LIBERAL ARTS EDUCATION AND DYNAMIC CO-CURRICULAR PROGRAMMING, INCLUDING VISUAL AND PERFORMING ARTS, ATHLETICS, COMMUNITY SERVICE, AND LEADERSHIP DEVELOPMENT. OUR CENTER FOR THE ADVANCEMENT FOR GIRLS (CAG) SERVES AS A RESEARCH BASE FOR INITIATIVES FOCUSED ON FOUR PILLARS CRITICAL TO GIRLS' SUCCESS: LEADERSHIP, GLOBAL CITIZENSHIP, WELLNESS, AND 21ST CENTURY TEACHING AND LEARNING. OUR 700 PLUS STUDENT BODY REPRESENTS A DIVERSE ARRAY OF COMMUNITIES THROUGHOUT THE PHILADELPHIA REGION.
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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt12HEAD OF SCHOOL
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IRS990/Form990PartVIISectionAGrp/TitleTxt32TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt33FORMER HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt34DIRECTOR OF FINANCE & FACILITIES
IRS990/Form990PartVIISectionAGrp/TitleTxt35DIRECTOR OF UPPER SCHOOL

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