Civic Intelligence

Perkiomen School

990 • Fiscal year 2024 • EIN 23-1352667

Jul 01, 2023 to Jun 30, 2024 • Filed on Jan 16, 2025

200 Seminary StreetPennsburg, PA 18073

(215) 679-1136

Siviq Scores

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

Liabilities / Assets

58th percentile

0.33x

Higher debt load relative to assets than 58% of similar nonprofits.

2024 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

63rd percentile

0.57x

Higher debt load relative to revenue than 63% of similar nonprofits.

2024 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2024

Net Margin

81st percentile

27%

Higher net margin than 81% of similar nonprofits.

2024 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

77th percentile

$617,053

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2024 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2024

Asset Growth

77th percentile

16%

Faster asset growth than 77% of similar nonprofits.

2024 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

77th percentile

28%

Faster revenue growth than 77% of similar nonprofits.

2024 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Up

$62,322,899

Up $8,395,699 (+16%) from 2023

Net Assets

Up

$41,999,330

Up $11,192,451 (+36%) from 2023

Liabilities

Down

$20,323,569

Down $2,796,752 (-12%) from 2023

Revenue

Up

$35,836,079

Up $7,749,646 (+28%) from 2023

Expenses

Up

$26,041,707

Up $357,046 (+1.4%) from 2023

Net Income

Up

$9,794,372

Up $7,392,600 (+308%) from 2023

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2011: $34,963,441Liabilities 2011: $16,689,986Net Assets 2011: $18,273,4552011Assets 2012: $35,604,975Liabilities 2012: $17,462,062Net Assets 2012: $18,142,9132012Assets 2013: $38,685,176Liabilities 2013: $17,013,813Net Assets 2013: $21,671,3632013Assets 2014: $53,699,651Liabilities 2014: $30,529,270Net Assets 2014: $23,170,3812014Assets 2015: $49,380,328Liabilities 2015: $25,687,213Net Assets 2015: $23,693,1152015Assets 2016: $50,478,066Liabilities 2016: $26,456,980Net Assets 2016: $24,021,0862016Assets 2017: $52,245,125Liabilities 2017: $26,026,158Net Assets 2017: $26,218,9672017Assets 2018: $53,067,735Liabilities 2018: $26,950,841Net Assets 2018: $26,116,8942018Assets 2019: $51,008,074Liabilities 2019: $25,683,866Net Assets 2019: $25,324,2182019Assets 2020: $48,271,895Liabilities 2020: $23,282,183Net Assets 2020: $24,989,7122020Assets 2021: $54,699,955Liabilities 2021: $24,078,912Net Assets 2021: $30,621,0432021Assets 2022: $49,783,140Liabilities 2022: $22,390,219Net Assets 2022: $27,392,9212022Assets 2023: $53,927,200Liabilities 2023: $23,120,321Net Assets 2023: $30,806,8792023Assets 2024: $62,322,899Liabilities 2024: $20,323,569Net Assets 2024: $41,999,3302024Assets 2025: $66,402,915Liabilities 2025: $20,656,649Net Assets 2025: $45,746,2662025

Highlighted filing

2024

Assets$62,322,899
Liabilities$20,323,569
Net Assets$41,999,330

Operations Trend

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

$40M$30M$20M$10M$0-$10MRevenue 2011: $13,628,945Expenses 2011: $13,455,508Net Income 2011: $173,4372011Expenses 2012: $14,330,0602012Revenue 2013: $19,548,370Expenses 2013: $16,367,365Net Income 2013: $3,181,0052013Revenue 2014: $18,522,709Expenses 2014: $17,964,238Net Income 2014: $558,4712014Revenue 2015: $18,931,080Expenses 2015: $17,935,510Net Income 2015: $995,5702015Revenue 2016: $19,509,605Expenses 2016: $18,744,390Net Income 2016: $765,2152016Revenue 2017: $20,744,455Expenses 2017: $19,648,108Net Income 2017: $1,096,3472017Revenue 2018: $21,002,781Expenses 2018: $21,005,349Net Income 2018: -$2,5682018Revenue 2019: $21,749,778Expenses 2019: $22,429,667Net Income 2019: -$679,8892019Revenue 2020: $21,712,174Expenses 2020: $20,901,733Net Income 2020: $810,4412020Revenue 2021: $21,683,618Expenses 2021: $19,242,701Net Income 2021: $2,440,9172021Revenue 2022: $22,516,030Expenses 2022: $22,593,281Net Income 2022: -$77,2512022Revenue 2023: $28,086,433Expenses 2023: $25,684,661Net Income 2023: $2,401,7722023Revenue 2024: $35,836,079Expenses 2024: $26,041,707Net Income 2024: $9,794,3722024Revenue 2025: $31,325,740Expenses 2025: $28,124,202Net Income 2025: $3,201,5382025

Highlighted filing

2024

Revenue$35,836,079
Expenses$26,041,707
Net Income$9,794,372
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jan 16, 2025
Return Version
2023v6.0
Gross Receipts
$38,294,555
Mission and Program Overview

Mission

A coeducational, college preparatory school serving students in grades 6-12 with a mission of "inspiring students to risk being their best".

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$26,510,611$26,425,037▼ $85,574
Investments in Publicly Traded Securities$15,477,007$18,728,243▲ $3,251,236
Savings and Temporary Cash Investments$2,439,466$7,942,925▲ $5,503,459
Pledges and Grants Receivable$8,044,183$6,630,790▼ $1,413,393
Inventories for Sale or Use$403,234$346,566▼ $56,668
Prepaid Expenses and Deferred Charges$231,369$258,497▲ $27,128
Cash and Non-Interest-Bearing Accounts$211,580$243,456▲ $31,876
Accounts Receivable$115,686$53,841▼ $61,845
Total Assets$53,927,200$62,322,899▲ $8,395,699
Other Assets Total$494,064$1,693,544▲ $1,199,480
Liabilities
Mortgage Notes Payable Secured by Investment Property$18,605,318$15,141,162▼ $3,464,156
Deferred Revenue$3,039,606$3,212,060▲ $172,454
Accounts Payable and Accrued Expenses$1,199,670$1,665,484▲ $465,814
Other Liabilities$275,727$304,863▲ $29,136
Total Liabilities$23,120,321$20,323,569▼ $2,796,752
Net Assets / Fund Balance
Net Assets With Donor Restrictions$19,259,881$24,102,145▲ $4,842,264
Net Assets Without Donor Restrictions$11,546,998$17,897,185▲ $6,350,187
Total Net Assets Fund Balance$30,806,879$41,999,330▲ $11,192,451
Total Liabilities and Net Assets / Fund Balance$53,927,200$62,322,899▲ $8,395,699

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,970,241$16,929,690$36,899,931
Leasehold Improvements$2,652,430$8,360,716$11,013,146
Equipment$1,100,881$7,243,681$8,344,562
Land$2,701,485-$2,701,485

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$7,803,323$3,624,545▲ $1,093,405$-430,025$12,091,248
2022$7,613,216$60,005▲ $696,960$-566,858$7,803,323
2021$9,208,524$45,760▼ $1,087,791$-553,277$7,613,216
2020$6,634,571$1,268,979▲ $1,668,879$363,905$9,208,524
2019$7,279,045$215,860▼ $237,874$622,460$6,634,571
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark DeveyHead of SchoFT$538,615$78,438$617,053
Mark DeveyHead of School-$538,615$78,438$617,053
Michael FouxAssoc. Hd -FT$232,297$27,842$260,139
Michael FouxAssoc. Hd - Finance-$232,297$27,842$260,139
Karl WelshDirector of DevelFT$190,072$28,713$218,785
Karl WelshDirector of Development-$190,072$28,713$218,785
Carol DoughertyAssoc Head OFT$178,507$24,834$203,341
Carol DoughertyAssoc Head of School-$178,507$24,834$203,341

Board Members and Trustees

NameTitle
Jim FinneganChairman
Luanne StaufferVice Chairma
Bianca JacksonBoard Member
Bruce MelgaryBoard Member
Cathy BakerBoard Member
Ethan RhodesBoard Member
Frans PreidelBoard Member
George MeschterBoard Member
Jim RatiganBoard Member
Joe RussellaBoard Member
Karlee FainBoard Member
Katie ParkBoard Member
Larry JacksonBoard Member
Leann AshfordBoard Member
Marcia BaroneBoard Member
Melissa WeinsteinBoard Member
Mitch DavisBoard Member
Peter SharkeyBoard Member
Phil LloydBoard Member
Ryan ParkBoard Member
Sung Sik YangBoard Member
Scott SchultzSecretary
Howard FormanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$11,458,378
Program Service Revenue
$23,257,557
Investment Income
$1,113,119
Other Revenue
$7,025
All Other Contributions
$10,836,069
Change in Net Assets
$9,794,372

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded3$41,151Fair Market Value
Total Noncash Contributions3$41,151-

Audited Revenue Reconciliation

Revenue per Audited Statements
$25,734,024
Revenue Not Reported on Financial Statements
$10,102,055
Revenue Not Reported on Form 990
$1,436,429
Other Revenue Adjustments
$9,971,293
Total Revenue per Audited Statements
$27,170,453
Total Revenue per Form 990
$35,836,079
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$9,971,293
Other Expenses$8,441,238
Salaries, Compensation, and Employee Benefits$7,629,176
Total Fundraising Expense$1,225,134
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$9,971,293--$9,971,293
Other Salaries and Wages$3,871,761$543,501$576,360$4,991,622
Depreciation Depletion$1,335,232$248,430$21,184$1,604,846
Current Officers, Directors, Trustees, and Key Employees$285,516$657,109$140,158$1,082,783
Other Employee Benefits$670,069$169,261$114,596$953,926
Occupancy$635,795$20,078$13,385$669,258
Interest$388,523$103,539$16,476$508,538
All Other Expenses$253,765$169,755$58,633$482,153
Payroll Taxes$289,071$82,375$50,556$422,002
Advertising$13,434$286,485$105,868$405,787
Fees for Services Other$338,651$9,157$9,107$356,915
Travel$28,816$143,087$74,037$245,940
Information Technology-$209,213$2,975$212,188
Other Expenses$146,146$64,044$7,276$210,190
Pension Plan Contributions$136,980$20,162$21,701$178,843
Insurance$15,413$156,856$325$172,594
Office Expenses-$142,500-$142,500
Fees for Service Investment Mgmnt Fees-$130,762-$130,762
Conferences and Meetings$23,298$86,602$4$109,904
Fees for Services Accounting-$58,881-$58,881
Fees for Services Legal-$54,665-$54,665
Total Functional Expenses$21,394,640$3,421,933$1,225,134$26,041,707

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$26,041,707
Total Expenses per Audited Statements$15,978,002
Expenses per Audited Statements$15,939,652
Expenses Not Reported on Financial Statements$10,102,055
Other Expense Adjustments$9,971,293
Expenses Not Reported on Form 990$38,350
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Scott Schultz> 35% OWNEDConstructionNo$103,060
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Compensation$120,001
Deposits$85,400
Agency Funds$83,445
Right of Use Lease Liability$16,017
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 35% controlled entity
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 school's form 990 is reviewed and approved by the head of school and the associate head of school for finance and operations. The source of the financial information on the form is the audited financial statements for the filing period. These statements are reviewed and formally approved by the board of trustees at their fall meeting. A copy of the final 990 was provided to the board of trustees.

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

A conflict of interest disclosure statement is signed annually by the trustees. The document clearly states the conflict of interest policy requires trustees to disclose any known conflicts. Each document is signed by the trustee and filed with the office of the head of school and ceo of the school.

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

The board hired an outside consultant and reviewed comparison charts to determine compensation for the head of school. Annual adjustments to the initial salary are made based on performance and are benchmarked against nais data and other boarding school information.

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

The head of school sets salaries and salary increases for key employees in the organization, with some direction from the board during years when the head of school position is in transition. In doing so he uses the school's historical salaries as a starting guide and makes adjustments as necessary as supported by salary statistics from the national association of independent school's (nais) database.

Form 990, Page 6, Part VI, Line 19

AVAILABLE ON REQUEST.

Filing and Contact Details

Filer

Filer Name
Perkiomen School
EIN
23-1352667
Phone
2156791136
Address
200 SEMINARY STREET, PENNSBURG, PA 18073

Signing Officer

Name
Michael Foux
Title
Assoc. Hd - Finance
Phone
2156791136
Signed
2025-01-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Foux
Formed
1875
Legal Domicile
Pa
Voting Board Members
24
Independent Board Members
23
Employees
132
Volunteers
24

Preparer

Firm
Bee Bergvall & Co
Address
PO BOX 754, WARRINGTON, PA 18976-0754
Preparer
Cynthia Bergvall CPA
Phone
2153432727
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Uncollectible promises to give -4,200

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

Endowment funds are intended to be used for scholarships, financial aid and student awards as well as faculty salary and professional development, program support and building and ground expenditures.

Schedule D, Page 3, Part X

The school is a not-for-profit organization as described in section 501(c) (3) of the internal revenue code and is exempt from federal income taxes pursuant to section 501(a) of the code. It is also exempt from state taxes by the applicable non-profit statutes of the commonwealth of pennsylvania. The school utilizes asc 740-10, accounting for uncertainty in income taxes, as it relates to uncertain tax positions. Management has reviewed its current and past federal and state income tax positions and has determined that the tax positions taken are certain and there is no likelihood that a material tax assessment would be made if the respective government agencies examined tax returns subject to audit. Accordingly, no provision for the effects of uncertain tax positions has been recorded, nor have any related interest and penalties been accrued. The irs and state taxing authorities retain the right to review filed tax returns, generally for three years after they were filed. However, the school is no longer subject to income tax examinations for years prior to 2021, and is not currently under audit, and has not been contacted by any of these tax jurisdictions.

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

Financial aid expenses, netted against rev on f/s 9,971,293

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

Financial aid expenses, netted against rev on f/s 9,971,293

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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/Desc0PERKIOMEN SCHOOL IS AN INDEPENDENT COLLEGE PREPARATORY SCHOOL COMMITTED TO CREATING EXPERIENCES THAT WILL PREPARE STUDENTS TO EXCEL IN COLLEGE AND LIFE IN A WORLD COMMUNITY. STUDENTS LEARN THROUGH EXPERIENCE AND ACTIVE INQUIRY. EACH STUDENT IS CHALLENGED TO EXCEL ACADEMICALLY. STUDENTS ARE EXPOSED TO NEW IDEAS AND TO FRIENDSHIPS SPANNING DIFFERENT RACES, SOCIOECONOMIC GROUPS, RELIGIONS, INTEREST, AND LEARNING STYLES; THUS, PREPARING THEM FOR A COMPETITIVE WORLD. PERKIOMEN'S COMMUNITY OF STAFF, ALUMNI, FAMILIES, AND FRIENDS, ARE DEDICATED TO NURTURING RELATIONSHIPS IN AN UNSHAKABLE PARTNERSHIP WITH THE SCHOOL FOR THE BEST INTEREST OF THE STUDENT. PERKIOMEN IS AN INVITING, SAFE HOME THAT INSPIRES A SENSE OF COMMUNITY AND BELONGING.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0HEAD OF SCHO
IRS990/Form990PartVIISectionAGrp/TitleTxt1ASSOC. HD -
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIR OF DEVEL
IRS990/Form990PartVIISectionAGrp/TitleTxt3ASSOC HEAD O
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt20BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt23BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt24VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt25BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt26BOARD MEMBER
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IRS990/OtherExpensesGrp/Desc0SERVICE CONTRACTS
IRS990/OtherExpensesGrp/Desc1OPERATING SUPPLIES
IRS990/OtherExpensesGrp/Desc2TUITION REMISSION
IRS990/OtherExpensesGrp/Desc3STUDENT ACTIVITIES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt146372
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt264044
IRS990/OtherExpensesGrp/ProgramServicesAmt02055439

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$66.4$20.7$45.7$31.3$28.1$3.20
2024Detailed filing. Detailed filing data is available for this year.$62.3$20.3$42.0$35.8$26.0$9.79
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$53.9$23.1$30.8$28.1$25.7$2.40
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$49.8$22.4$27.4$22.5$22.6$0.08
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.7$24.1$30.6$21.7$19.2$2.44
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$48.3$23.3$25.0$21.7$20.9$0.81
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$51.0$25.7$25.3$21.7$22.4$0.68
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$53.1$27.0$26.1$21.0$21.0$0.00
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.2$26.0$26.2$20.7$19.6$1.10
2016Detailed filing. Detailed filing data is available for this year.$50.5$26.5$24.0$19.5$18.7$0.77
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$49.4$25.7$23.7$18.9$17.9$1.00
2014Detailed filing. Detailed filing data is available for this year.$53.7$30.5$23.2$18.5$18.0$0.56
2013Summary only. Only limited summary data is available for this year.$38.7$17.0$21.7$19.5$16.4$3.18
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$35.6$17.5$18.1$14.3
2011Summary only. Only limited summary data is available for this year.$35.0$16.7$18.3$13.6$13.5$0.17