Civic Intelligence

Malvern Preparatory School

990 • Fiscal year 2017 • EIN 23-1352658

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 01, 2018

418 S Warren AvenueMalvern, PA 19355

(484) 595-1100

Siviq Scores

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

Liabilities / Assets

39th percentile

0.19x

Higher debt load relative to assets than 39% of similar nonprofits.

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

Liabilities / Revenue

52nd percentile

0.43x

Higher debt load relative to revenue than 52% of similar nonprofits.

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

Net Margin

55th percentile

4.7%

Higher net margin than 55% of similar nonprofits.

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

Top Officer Pay

33rd percentile

$249,292

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

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

Asset Growth

38th percentile

2.9%

Faster asset growth than 38% of similar nonprofits.

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

Revenue Growth

19th percentile

-5.7%

Faster revenue growth than 19% of similar nonprofits.

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

Assets

Up

$61,107,308

Up $1,734,809 (+2.9%) from 2016

Net Assets

Up

$49,470,472

Up $2,962,834 (+6.4%) from 2016

Liabilities

Down

$11,636,836

Down $1,228,025 (-9.5%) from 2016

Revenue

Down

$26,875,584

Down $1,614,044 (-5.7%) from 2016

Expenses

Up

$25,621,513

Up $1,251,646 (+5.1%) from 2016

Net Income

Down

$1,254,071

Down $2,865,690 (-70%) 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 2010: $46,426,680Liabilities 2010: $15,385,337Net Assets 2010: $31,041,3432010Assets 2011: $49,044,730Liabilities 2011: $14,463,122Net Assets 2011: $34,581,6082011Assets 2012: $49,167,048Liabilities 2012: $14,089,663Net Assets 2012: $35,077,3852012Assets 2013: $51,984,314Liabilities 2013: $14,603,483Net Assets 2013: $37,380,8312013Assets 2014: $54,265,762Liabilities 2014: $13,667,038Net Assets 2014: $40,598,7242014Assets 2015: $57,258,047Liabilities 2015: $13,146,587Net Assets 2015: $44,111,4602015Assets 2016: $59,372,499Liabilities 2016: $12,864,861Net Assets 2016: $46,507,6382016Assets 2017: $61,107,308Liabilities 2017: $11,636,836Net Assets 2017: $49,470,4722017Assets 2018: $63,683,750Liabilities 2018: $11,650,281Net Assets 2018: $52,033,4692018Assets 2019: $69,071,406Liabilities 2019: $12,695,414Net Assets 2019: $56,375,9922019Assets 2020: $71,046,883Liabilities 2020: $13,702,404Net Assets 2020: $57,344,4792020Assets 2021: $74,548,019Liabilities 2021: $12,563,241Net Assets 2021: $61,984,7782021Assets 2022: $76,971,760Liabilities 2022: $11,896,881Net Assets 2022: $65,074,8792022Assets 2023: $85,562,352Liabilities 2023: $11,110,225Net Assets 2023: $74,452,1272023Assets 2024: $100,958,096Liabilities 2024: $19,878,904Net Assets 2024: $81,079,1922024

Highlighted filing

2017

Assets$61,107,308
Liabilities$11,636,836
Net Assets$49,470,472

Operations Trend

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

$40M$30M$20M$10M$0-$10MExpenses 2010: $18,331,4052010Expenses 2011: $18,866,9132011Revenue 2012: $21,821,175Expenses 2012: $19,861,200Net Income 2012: $1,959,9752012Expenses 2013: $20,797,2412013Revenue 2014: $24,492,950Expenses 2014: $21,712,567Net Income 2014: $2,780,3832014Revenue 2015: $27,962,611Expenses 2015: $23,186,589Net Income 2015: $4,776,0222015Revenue 2016: $28,489,628Expenses 2016: $24,369,867Net Income 2016: $4,119,7612016Revenue 2017: $26,875,584Expenses 2017: $25,621,513Net Income 2017: $1,254,0712017Revenue 2018: $27,438,870Expenses 2018: $25,419,574Net Income 2018: $2,019,2962018Revenue 2019: $29,990,327Expenses 2019: $25,324,842Net Income 2019: $4,665,4852019Revenue 2020: $28,393,026Expenses 2020: $26,664,084Net Income 2020: $1,728,9422020Revenue 2021: $26,535,718Expenses 2021: $27,145,341Net Income 2021: -$609,6232021Revenue 2022: $36,046,304Expenses 2022: $28,466,982Net Income 2022: $7,579,3222022Revenue 2023: $37,484,955Expenses 2023: $30,122,820Net Income 2023: $7,362,1352023Revenue 2024: $35,317,828Expenses 2024: $32,193,825Net Income 2024: $3,124,0032024

Highlighted filing

2017

Revenue$26,875,584
Expenses$25,621,513
Net Income$1,254,071
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 1, 2018
Return Version
2016v3.1
Gross Receipts
$27,342,449
Mission and Program Overview

Mission

An augustinian school, catholic and independent, living the augustinian spirit

Malvern preparatory school is an independent, augustinian, catholic school that educates its students in a caring environment, focused on academics while maintaining balance among spirituality, arts, athletics and activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$31,100,760$30,027,010▼ $1,073,750
Investments in Publicly Traded Securities$17,476,723$20,468,932▲ $2,992,209
Pledges and Grants Receivable$5,401,389$5,113,707▼ $287,682
Savings and Temporary Cash Investments$3,157,645$4,340,623▲ $1,182,978
Cash and Non-Interest-Bearing Accounts$1,273,844$432,920▼ $840,924
Inventories for Sale or Use$90,632$84,981▼ $5,651
Accounts Receivable$256,781$48,514▼ $208,267
Total Assets$59,271,433$61,107,308▲ $1,835,875
Other Assets Total$513,659$590,621▲ $76,962
Liabilities
Tax Exempt Bond Liabilities$7,984,062$7,645,639▼ $338,423
Accounts Payable and Accrued Expenses$3,229,359$2,656,311▼ $573,048
Deferred Revenue$729,662$724,116▼ $5,546
Other Liabilities$482,877$464,545▼ $18,332
Mortgage Notes Payable Secured by Investment Property$337,835$146,225▼ $191,610
Total Liabilities$12,763,795$11,636,836▼ $1,126,959
Net Assets / Fund Balance
Unrestricted Net Assets$31,735,605$31,733,282▼ $2,323
Permanently Rstr Net Assets$9,423,095$10,278,325▲ $855,230
Temporarily Rstr Net Assets$5,348,938$7,458,865▲ $2,109,927
Total Net Assets Fund Balance$46,507,638$49,470,472▲ $2,962,834
Total Liabilities and Net Assets / Fund Balance$59,271,433$61,107,308▲ $1,835,875

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$25,115,828$17,590,094$42,705,922
Leasehold Improvements$3,577,204$3,724,240$7,301,444
Equipment$641,496$5,744,937$6,386,433
Land$692,482-$17,482

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$16,384,249$979,965▲ $2,344,905$24,379$19,343,468
2015$16,296,974$960,570▼ $518,942$24,379$16,384,249
2014$15,580,058$1,291,128▼ $255,537$24,379$16,296,974
2013$13,361,176$332,862▲ $2,168,072$24,379$15,580,058
2012$10,929,120$1,316,393▲ $1,306,162$24,379$13,361,176
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christian M TalbotPast Head ofFT$221,609$27,683$249,292
Christian M TalbotPast Head of School-$221,609$81,516$249,292
Theodore N Caniglia JrDirector FinanceFT$183,045$25,672$208,717
Theodore N Caniglia JrDirector Finance & Facil-$183,045$25,672$208,717
Steven R ValyoAsst. Head OFT$177,612$11,249$188,861
Steven R ValyoAsst. Head of School-$123,779$11,249$188,861
VICTOR D'ASCENZODirector of DeveFT$177,302$8,792$186,094
VICTOR D'ASCENZODirector of Development-$177,302$24,952$186,094
Carrie a SnyderDirector StrategFT$146,370$10,225$156,595
Carrie a SnyderDirector Strategic Int.-$146,370$26,385$156,595
Jeffrey M KinneyDirector of MainFT$139,487$16,761$156,248
Jeffrey M KinneyDirector of Maintenance-$139,487$601$156,248
Ronald a AlgeoUpper School-$127,232$25,370$152,602
Ronald a AlgeoUpper School Head-$127,232$9,210$152,602
Revenue and Support

Revenue Composition

Contributions and Grants
$4,008,979
Program Service Revenue
$21,227,240
Investment Income
$689,043
Other Revenue
$950,322
All Other Contributions
$3,923,829
Change in Net Assets
$1,254,071

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeReported AmountValuation Method
Books and Publications$91,161Fair Market Value (FMV)
Total Noncash Contributions$91,161-

Audited Revenue Reconciliation

Revenue per Audited Statements
$27,018,370
Revenue Not Reported on Financial Statements
$-142,786
Revenue Not Reported on Form 990
$-2,210,002
Other Revenue Adjustments
$-142,786
Total Revenue per Audited Statements
$24,808,368
Total Revenue per Form 990
$26,875,584
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$13,899,615
Other Expenses$7,803,133
Grants and Similar Amounts Paid$3,918,765
Total Fundraising Expense$1,041,077
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,369,458$1,573,380$640,044$10,582,882
Grants to Domestic Individuals$3,918,765--$3,918,765
Other Employee Benefits$1,597,305$376,661$134,256$2,108,222
All Other Expenses$1,720,497$296,061$68,579$2,085,137
Depreciation Depletion$1,446,978$96,465$64,310$1,607,753
Fees for Services Other-$870,340-$870,340
Payroll Taxes$573,236$142,347$48,642$764,225
Office Expenses$381,109$130,959$2,953$515,021
Current Officers, Directors, Trustees, and Key Employees$10,050$404,086$30,150$444,286
Other Expenses$375,374$367,543$44,305$367,543
Information Technology-$334,660-$334,660
Insurance-$252,659-$252,659
Interest$176,348$11,757$7,838$195,943
Travel-$141,925-$141,925
Total Functional Expenses$19,218,627$5,361,809$1,041,077$25,621,513

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$25,621,513
Total Expenses per Audited Statements$21,854,967
Expenses per Audited Statements$21,544,547
Expenses Not Reported on Financial Statements$4,076,966
Other Expense Adjustments$4,076,966
Expenses Not Reported on Form 990$310,420
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$406,263
Fundraising Direct Expenses$151,445
Gaming Gross Income$10,700
Gaming Direct Expenses$5,000
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$261,946$202,646$6,181$196,465
Bash Auction$222,107$196,257$44,704$151,553
Total Events$491,413$406,263$151,445$254,818
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Lease Obligations$180,032
Commitments and Contingencies$150,000
Annuity Liability$134,513

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACentral & Western County Indust De2015-03-10$8,509,000REFINANCE EXISTING DEBT

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$8,509,000$8,509,000--

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
No
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
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The form 990 information is organized by anthony digregorio, business manager, and then given to the tax preparer. The completed return is then reviewed by theodore caniglia, jr, director of finance and facilities. The board then receives a copy of the form 990 to review and approve for filing.

Form 990, Page 6, Part VI, Line 12C

The conflict of interest policy is monitored and enforced on a case by case basis. (example: when vendors are hired). Also, if an issue is discussed at a board meeting involving a board member, that member is excused from the meeting.

Form 990, Page 6, Part VI, Line 15A

All board members complete an evaluation, followed by a meeting between the chairman of the board and head of school. In addition, a comparison is made with other private school's ceos' salaries.

Form 990, Page 6, Part VI, Line 15B

A comparision is made with other private school's officer/ key employees salaries.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents, conflict of interest policy, and financial statements are made available upon request.

Filing and Contact Details

Filer

Filer Name
Malvern Preparatory School
EIN
23-1352658
Phone
4845951100
Address
418 S WARREN AVENUE, MALVERN, PA 19355

Signing Officer

Name
Theodore N Caniglia Jr
Title
Director Finance & Facil
Phone
4845951100
Signed
2018-02-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rev Donald F Reilly Osa
Formed
1922
Legal Domicile
Pa
Voting Board Members
27
Independent Board Members
25
Employees
283
Volunteers
75

Preparer

Firm
O'CONNELL & COMPANY
Address
165 TOWNSHIP LINE RD STE 1100, JENKINTOWN, PA 19046-1350
Preparer
GEORGE R O'CONNELL
Phone
2158874425
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

An augustinian school, catholic and independent, living the augustinian spirit of veritas, unitas and caritas. Veritas (truth) - malvern is dedicated to the pursuit of truth through academic excellence and the growth of each of its students, so that he is prepared fully for college and for a life of integrity and courageous leadership. Unitas (unity) - seeking oneness of mind and heart in the journey toward god, malvern strives to build a diverse community in which a caring faculty works with parents and students to instill in everyone a personal responsibility for the common good. Caritas (love) - inspired by christ, the malvern tradition invites each individual to grow and give in a family distinguished by respect, challenge, service and exceptional love.

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The school's endowment funds have been established to fund scholarships, faculty enhancement, operations and diversity.

Schedule D, Page 3, Part X

The school has adopted the accounting standard related to the recognition and measurement of uncertain tax positions. The adoption of this standard had no financial statement effect for the school. The school is no longer subject to federal and state examinations for the years prior to 2014.

Schedule D, Page 4, Part XI, Line 2D

SCHOLARSHIPS -3,918,765

Schedule D, Page 4, Part XI, Line 4B

Revenues from mother's and father's clubs and student act. 167,634 bookstore cost of goods sold -310,420

Schedule D, Page 4, Part XII, Line 2D

Bookstore cost of goods sold 310,420

Schedule D, Page 4, Part XII, Line 4B

Expenses from mother's and father's clubs and student act. 158,201 scholarships 3,918,765

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PAST HEAD OF
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt23TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt24TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt25TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt26TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt27HEAD OF SCHO
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIR FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt29ASST. HEAD O
IRS990/Form990PartVIISectionAGrp/TitleTxt30DIR. OF DEVE
IRS990/Form990PartVIISectionAGrp/TitleTxt31DIR. STRATEG
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IRS990/MissionDesc0AN AUGUSTINIAN SCHOOL, CATHOLIC AND INDEPENDENT, LIVING THE AUGUSTINIAN SPIRIT OF VERITAS, UNITAS AND CARITAS. VERITAS (TRUTH) - MALVERN IS DEDICATED TO THE PURSUIT OF TRUTH THROUGH ACADEMIC EXCELLENCE AND THE GROWTH OF EACH OF ITS STUDENTS, SO THAT HE IS PREPARED FULLY FOR COLLEGE AND FOR A LIFE OF INTEGRITY AND COURAGEOUS LEADERSHIP. UNITAS (UNITY) - SEEKING ONENESS OF MIND AND HEART IN THE JOURNEY TOWARD GOD, MALVERN STRIVES TO BUILD A DIVERSE COMMUNITY IN WHICH A CARING FACULTY WORKS WITH PARENTS AND STUDENTS TO INSTILL IN EVERYONE A PERSONAL RESPONSIBILITY FOR THE COMMON GOOD. CARITAS (LOVE) - INSPIRED BY CHRIST, THE MALVERN TRADITION INVITES EACH INDIVIDUAL TO GROW AND GIVE IN A FAMILY DISTINGUISHED BY RESPECT, CHALLENGE, SERVICE AND EXCEPTIONAL LOVE.
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IRS990/NetIncomeOrLossGrp/ExclusionAmt0127126
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt0127126

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$101$19.9$81.1$35.3$32.2$3.12
2023Detailed filing. Detailed filing data is available for this year.$85.6$11.1$74.5$37.5$30.1$7.36
2022Detailed filing. Detailed filing data is available for this year.$77.0$11.9$65.1$36.0$28.5$7.58
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$74.5$12.6$62.0$26.5$27.1$0.61
2020Detailed filing. Detailed filing data is available for this year.$71.0$13.7$57.3$28.4$26.7$1.73
2019Detailed filing. Detailed filing data is available for this year.$69.1$12.7$56.4$30.0$25.3$4.67
2018Detailed filing. Detailed filing data is available for this year.$63.7$11.7$52.0$27.4$25.4$2.02
2017Detailed filing. Detailed filing data is available for this year.$61.1$11.6$49.5$26.9$25.6$1.25
2016Detailed filing. Detailed filing data is available for this year.$59.4$12.9$46.5$28.5$24.4$4.12
2015Detailed filing. Detailed filing data is available for this year.$57.3$13.1$44.1$28.0$23.2$4.78
2014Detailed filing. Detailed filing data is available for this year.$54.3$13.7$40.6$24.5$21.7$2.78
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.0$14.6$37.4$20.8
2012Summary only. Only limited summary data is available for this year.$49.2$14.1$35.1$21.8$19.9$1.96
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$49.0$14.5$34.6$18.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$46.4$15.4$31.0$18.3