Civic Intelligence

The Agnes Irwin School

990 • Fiscal year 2017 • EIN 23-1352650

Jul 01, 2016 to Jun 30, 2017 • Filed on Dec 04, 2017

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

46th percentile

0.26x

Higher debt load relative to assets than 46% of similar nonprofits.

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

Liabilities / Revenue

70th percentile

0.89x

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

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

Net Margin

36th percentile

0.2%

Higher net margin than 36% of similar nonprofits.

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

Top Officer Pay

75th percentile

$582,643

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 2.3% of source-year revenue.

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

Asset Growth

19th percentile

-1.4%

Faster asset growth than 19% of similar nonprofits.

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

Revenue Growth

47th percentile

4.2%

Faster revenue growth than 47% of similar nonprofits.

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

Assets

Down

$90,113,414

Down $1,238,783 (-1.4%) from 2016

Net Assets

Up

$67,029,350

Up $720,061 (+1.1%) from 2016

Liabilities

Down

$23,084,064

Down $1,958,844 (-7.8%) from 2016

Revenue

Up

$25,841,830

Up $1,035,263 (+4.2%) from 2016

Expenses

Up

$25,798,577

Up $34,398 (+0.1%) from 2016

Net Income

Up

$43,253

Up $1,000,865 (+105%) from 2016

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

2017

Assets$90,113,414
Liabilities$23,084,064
Net Assets$67,029,350

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

2017

Revenue$25,841,830
Expenses$25,798,577
Net Income$43,253
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Dec 4, 2017
Return Version
2016v3.0
Gross Receipts
$26,883,875
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$60,895,498$60,139,749▼ $755,749
Investments Other Securities$16,577,059$17,506,626▲ $929,567
Savings and Temporary Cash Investments$4,455,140$4,490,262▲ $35,122
Pledges and Grants Receivable$4,356,619$2,434,675▼ $1,921,944
Prepaid Expenses and Deferred Charges$793,045$700,705▼ $92,340
Investments in Publicly Traded Securities$264,107$622,684▲ $358,577
Cash and Non-Interest-Bearing Accounts$21,948$218,502▲ $196,554
Accounts Receivable$124,327$155,255▲ $30,928
Inventories for Sale or Use$70,695$45,657▼ $25,038
Total Assets$91,352,197$90,113,414▼ $1,238,783
Other Assets Total$3,793,759$3,799,299▲ $5,540
Liabilities
Mortgage Notes Payable Secured by Investment Property$10,977,841$9,653,529▼ $1,324,312
Tax Exempt Bond Liabilities$8,045,000$7,755,000▼ $290,000
Deferred Revenue$1,895,058$1,962,011▲ $66,953
Other Liabilities$2,200,186$1,944,079▼ $256,107
Accounts Payable and Accrued Expenses$1,924,823$1,769,445▼ $155,378
Total Liabilities$25,042,908$23,084,064▼ $1,958,844
Net Assets / Fund Balance
Unrestricted Net Assets$49,939,778$49,822,399▼ $117,379
Permanently Rstr Net Assets$13,056,403$12,991,990▼ $64,413
Temporarily Rstr Net Assets$3,313,108$4,214,961▲ $901,853
Total Net Assets Fund Balance$66,309,289$67,029,350▲ $720,061
Total Liabilities and Net Assets / Fund Balance$91,352,197$90,113,414▼ $1,238,783

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$56,669,868$17,148,049$73,817,917
Equipment$1,025,200$8,909,901$9,935,101
Land$1,575,000-$1,575,000
Leasehold Improvements$766,368$469,188$1,235,556
Other Land Buildings$103,313$438,086$541,399
Other Securities$17,506,626--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$16,729,383$364,139▲ $1,954,658$1,021,087$18,027,093
2015$21,150,208$72,932▼ $533,199$3,960,558$16,729,383
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Wendy L HillHead of School/trusteeFT$410,576$172,067$582,643
Margaret WelshDirector of DevelopmentFT$161,300$24,339$185,639
A Randol BenedictDirector of EnrollmentFT$152,250$15,777$168,027
Joanne HoffmanDirector of Upper SchoolFT$146,725$15,471$162,196
Carole MelvinInterim Director of FinanceFT$143,400$15,288$158,688
Mariandl HuffordAssistant Head of SchoolFT$141,450$15,182$156,632
Sheila PauleyDirector of AthleticsFT$136,525$14,910$151,435

Highest Paid Contractors

ContractorServicesLocationCompensation
Mindpower INCMarketing/re-branding337 GEORGIA AVENUE SE, Atlanta, GA 30312$354,242
Professional Building Services INCConstruction3936 MILLER ROAD, Newtown Square, PA 19073$297,565
Neal And AssociatesConstruction1252 VALLEY RD, Glen Mills, PA 19342$282,783
Culinart Group INCSchool CafeteriaCOMPASS GROUP USA PO BOX 417632, Boston, MA 02241-7632$204,044
Tyler Building ConceptsConstruction529 11TH AVE, Prospect Park, PA 19076$144,430
Revenue and Support

Revenue Composition

Contributions and Grants
$3,736,939
Program Service Revenue
$20,580,690
Investment Income
$1,382,769
Other Revenue
$141,432
All Other Contributions
$3,471,659
Change in Net Assets
$43,253

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 Traded13$849,258Nyse Value
Books and Publications-$92,141Purchase Price
Total Noncash Contributions13$941,399-

Audited Revenue Reconciliation

Revenue per Audited Statements
$25,740,837
Revenue Not Reported on Financial Statements
$100,993
Revenue Not Reported on Form 990
$-2,676,915
Other Revenue Adjustments
$100,993
Total Revenue per Audited Statements
$23,063,922
Total Revenue per Form 990
$25,841,830
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$13,923,191
Other Expenses$8,521,663
Grants and Similar Amounts Paid$3,353,723
Total Fundraising Expense$2,042,263
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,873,564$2,791,029$1,040,488$10,705,081
Grants to Domestic Individuals$3,353,723--$3,353,723
Depreciation Depletion$1,947,808$382,341$100,588$2,430,737
Other Employee Benefits$742,768$286,947$83,724$1,113,439
All Other Expenses$147,323$832,792$72,741$1,052,856
Fees for Services Other$469,126$507,599$64,742$1,041,467
Payroll Taxes$500,421$231,555$71,872$803,848
Current Officers, Directors, Trustees, and Key Employees-$740,584-$740,584
Occupancy$472,676$84,004$24,410$581,090
Pension Plan Contributions$382,651$135,478$42,110$560,239
Other Expenses$327,500$70,076$320,393$320,393
Information Technology$40,975$272,846-$313,821
Office Expenses$83,186$112,287$99,903$295,376
Insurance$132,239$63,620$6,829$202,688
Interest-$186,674-$186,674
Travel--$96,201$96,201
Total Functional Expenses$17,058,482$6,697,832$2,042,263$25,798,577

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$25,798,577
Total Expenses per Audited Statements$22,554,190
Expenses per Audited Statements$22,428,386
Expenses Not Reported on Financial Statements$3,370,191
Other Expense Adjustments$3,370,191
Expenses Not Reported on Form 990$125,804
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$159,857
Fundraising Direct Expenses$122,695
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Raise$182,975$64,041$64,438$-397
Golf Outing$46,345$28,270$17,874$10,396
Total Events$332,996$159,857$122,695$37,162
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$2,137,507
Unamortized Bond Issuance Costs$-193,428

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-$3,245,000$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 11B

The form 990 is initially reviewed by the interim controller, and the chief financial officer. 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 chairperson, 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
Tim Walsh
Title
Chief Financial Officer
Phone
6105258400
Signed
2017-12-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim Walsh
Formed
1869
Legal Domicile
Pa
Voting Board Members
33
Independent Board Members
32
Employees
389
Volunteers
318

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 I, 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 156,732. Change in beneficial interest trust -130,522.

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 156,732. Change in beneficial interest in perpetual trust -130,522. Financial aid -3,353,723.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Cost of goods sold -90,035. Rental expense -35,769. Fundraising expenses -122,695. Alumnae association revenue 15,225. Parents' council revenue 334,267.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Rental expense 35,769. Cost of goods sold 90,035.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid 3,353,723. Parents' council expenses 15,722. Alumnae association expenses 746.

Raw XML AppendixShowing 400 of 1,048 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 COLLEGEPREPARATORY SCHOOL FOR GRADES PRE-K THROUGH 12, FOSTERS THEINTELLECTUAL, AND PERSONAL GROWTH OF GIRLS AND YOUNG WOMEN THROUGH ARIGOROUS LIBERAL ARTS EDUCATION AND DYNAMIC CO-CURRICULAR PROGRAMMING,INCLUDING VISUAL AND PERFORMING ARTS, ATHLETICS, COMMUNITY SERVICE, ANDLEADERSHIP DEVELOPMENT. OUR CENTER FOR THE ADVANCEMENT FOR GIRLS (CAG)SERVES AS A RESEARCH BASE FOR INITIATIVES FOCUSED ON FOUR PILLARSCRITICAL TO GIRLS' SUCCESS: LEADERSHIP, GLOBAL CITIZENSHIP, WELLNESS,AND 21ST CENTURY TEACHING AND LEARNING. OUR 700 PLUS STUDENT BODYREPRESENTS A DIVERSE ARRAY OF COMMUNITIES THROUGHOUT THE PHILADELPHIAREGION.
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