Civic Intelligence

Moravian Academy

990 • Fiscal year 2018 • EIN 24-0829838

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 14, 2018

Refreshing map…

7 East Market StreetBethlehem, PA 18018

(610) 332-5288

Siviq Scores

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

Liabilities / Assets

35th percentile

0.12x

Higher debt load relative to assets than 35% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

45th percentile

0.24x

Higher debt load relative to revenue than 45% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

25th percentile

-2.1%

Higher net margin than 25% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

45th percentile

$231,909

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

14th percentile

-6.4%

Faster asset growth than 14% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

63rd percentile

9.5%

Faster revenue growth than 63% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Assets

Down

$44,550,578

Down $7,110,806 (-14%) from 2014

Net Assets

Down

$39,183,788

Down $2,160,168 (-5.2%) from 2014

Liabilities

Down

$5,366,790

Down $4,950,638 (-48%) from 2014

Revenue

Up

$22,181,040

Up $1,895,056 (+9.3%) from 2014

Expenses

Up

$22,649,337

Up $2,973,053 (+15%) from 2014

Net Income

Down

-$468,297

Down $1,077,997 (-177%) from 2014

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2011: $39,760,884Liabilities 2011: $4,687,156Net Assets 2011: $35,073,7282011Assets 2012: $40,546,828Liabilities 2012: $4,494,324Net Assets 2012: $36,052,5042012Assets 2013: $44,668,371Liabilities 2013: $6,068,444Net Assets 2013: $38,599,9272013Assets 2014: $51,661,384Liabilities 2014: $10,317,428Net Assets 2014: $41,343,9562014Assets 2018: $44,550,578Liabilities 2018: $5,366,790Net Assets 2018: $39,183,7882018Assets 2019: $42,709,545Liabilities 2019: $5,069,213Net Assets 2019: $37,640,3322019Assets 2020: $43,172,957Liabilities 2020: $4,914,495Net Assets 2020: $38,258,4622020Assets 2021: $47,443,371Liabilities 2021: $3,892,433Net Assets 2021: $43,550,9382021Assets 2022: $42,706,228Liabilities 2022: $3,072,623Net Assets 2022: $39,633,6052022Assets 2024: $49,965,831Liabilities 2024: $8,206,046Net Assets 2024: $41,759,7852024

Highlighted filing

2018

Assets$44,550,578
Liabilities$5,366,790
Net Assets$39,183,788

Operations Trend

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

$40M$30M$20M$10M$0-$10MExpenses 2011: $16,994,6272011Expenses 2012: $17,817,8612012Expenses 2013: $18,407,3722013Revenue 2014: $20,285,984Expenses 2014: $19,676,284Net Income 2014: $609,7002014Revenue 2018: $22,181,040Expenses 2018: $22,649,337Net Income 2018: -$468,2972018Revenue 2019: $21,379,421Expenses 2019: $23,968,912Net Income 2019: -$2,589,4912019Revenue 2020: $23,794,719Expenses 2020: $23,399,650Net Income 2020: $395,0692020Revenue 2021: $34,193,024Expenses 2021: $22,568,173Net Income 2021: $11,624,8512021Revenue 2022: $25,226,659Expenses 2022: $24,323,157Net Income 2022: $903,5022022Revenue 2024: $32,174,733Expenses 2024: $35,369,217Net Income 2024: -$3,194,4842024

Highlighted filing

2018

Revenue$22,181,040
Expenses$22,649,337
Net Income-$468,297
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 14, 2018
Return Version
2017v2.3
Gross Receipts
$26,746,751
Mission and Program Overview

Mission

The primary mission of the school is to develop a young person's mind body and spirit in an atmosphere which fosters a love of learning, joy in serving, appreciation of diverse cultures and perspectives, and respect for others.

Moravian academy is a church-related school whose moravian tradition affirms that young people best realize their potential in an atmosphere of love and understanding. We seek to promote the child's full development in mind, body, and spirit. Since 1742 the school has encouraged sound innovations to meet contemporary challenges while recognizing the permanence of basic human values.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$27,345,427$26,367,923▼ $977,504
Land, Buildings, and Equipment, Net$18,179,973$16,963,376▼ $1,216,597
Pledges and Grants Receivable$543,360$274,343▼ $269,017
Prepaid Expenses and Deferred Charges$307,620$264,503▼ $43,117
Accounts Receivable$311,210$241,842▼ $69,368
Investments Other Securities$311,780$236,834▼ $74,946
Savings and Temporary Cash Investments$620,713$201,207▼ $419,506
Cash and Non-Interest-Bearing Accounts$550$550→ $0
Total Assets$47,620,633$44,550,578▼ $3,070,055
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,621,335$3,120,396▼ $2,500,939
Accounts Payable and Accrued Expenses$1,494,011$1,375,560▼ $118,451
Other Liabilities$863,246$810,715▼ $52,531
Deferred Revenue$68,709$60,119▼ $8,590
Total Liabilities$8,047,301$5,366,790▼ $2,680,511
Net Assets / Fund Balance
Unrestricted Net Assets$21,290,116$20,475,372▼ $814,744
Temporarily Rstr Net Assets$9,293,554$9,695,138▲ $401,584
Permanently Rstr Net Assets$8,989,662$9,013,278▲ $23,616
Total Net Assets Fund Balance$39,573,332$39,183,788▼ $389,544
Total Liabilities and Net Assets / Fund Balance$47,620,633$44,550,578▼ $3,070,055

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,341,186$12,806,100$24,147,286
Equipment$1,729,525$9,471,099$11,200,624
Other Land Buildings$2,811,258$3,472,591$6,283,849
Land$1,045,646-$1,045,646
Leasehold Improvements$35,761$475,708$511,469

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$20,019,311$23,616▲ $1,520,949$600,801$20,806,376
2016$18,890,561$21,254▲ $2,076,596$768,822$20,019,311
2015$19,160,792$188,287▲ $259,082$523,628$18,890,561
2014$19,025,853$259,235▲ $533,004$481,528$19,160,792
2013$16,837,884$122,649▲ $2,648,820$355,894$19,025,853
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jeff ZemskyHeadmasterFT$191,900$40,009$231,909
Robert ZaiserDirector of InstitutionalFT$166,593$13,837$180,430
James KirtlandDirector of Business and FFT$152,218$23,247$175,465
Ann MindlerAssistant Head of SchoolFT$153,580$16,330$169,910
Susan ParentDirector of Lower SchoolFT$109,300$19,814$129,114
Thomas BaylissDirector of Plan OperationFT$110,705$17,176$127,881
Dylan DealDirector of Upper SchoolFT$109,620$12,814$122,434
Revenue and Support

Revenue Composition

Contributions and Grants
$931,129
Program Service Revenue
$19,327,152
Investment Income
$1,753,389
Other Revenue
$169,370
All Other Contributions
$875,629
Change in Net Assets
$-468,297

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table2$10,200Fair Market Value of
Other Non Cash Contri Table13$9,411Fair Market Value of
Other Non Cash Contri Table11$2,164Fair Market Value of
Total Noncash Contributions26$21,775-

Audited Revenue Reconciliation

Revenue per Audited Statements
$22,316,824
Revenue Not Reported on Financial Statements
$-135,784
Revenue Not Reported on Form 990
$-2,882,988
Other Revenue Adjustments
$-135,784
Total Revenue per Audited Statements
$19,433,836
Total Revenue per Form 990
$22,181,040
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$12,183,080
Other Expenses$7,504,516
Grants and Similar Amounts Paid$2,961,741
Total Fundraising Expense$807,899
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,677,320$679,507$264,105$8,620,932
Grants to Domestic Individuals$2,961,741--$2,961,741
Depreciation Depletion$1,905,153$101,338$20,268$2,026,759
Other Employee Benefits$1,300,221$115,081$44,729$1,460,031
Current Officers, Directors, Trustees, and Key Employees$300,006$185,488$308,845$794,339
Payroll Taxes$601,262$69,536$29,121$699,919
Pension Plan Contributions$521,560$48,057$38,242$607,859
Occupancy$411,561$21,892$4,378$437,831
Other Expenses$253,315$74,773$14,955$253,315
Advertising$184,148$18,217$12,544$214,909
Information Technology$124,928$21,585$12,162$158,675
Office Expenses$76,869$21,061$44,428$142,358
Interest-$139,846-$139,846
Insurance$64,867$3,450$690$69,007
Conferences and Meetings$28,094$18,884$4,272$51,250
Fees for Services Accounting-$37,675-$37,675
Fees for Services Legal-$15,503-$15,503
Travel$146$2,660$9,160$11,966
Total Functional Expenses$20,266,885$1,574,553$807,899$22,649,337

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$22,649,337
Total Expenses per Audited Statements$19,823,380
Expenses per Audited Statements$19,687,596
Expenses Not Reported on Financial Statements$2,961,741
Other Expense Adjustments$2,961,741
Expenses Not Reported on Form 990$135,784
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$252,930
Fundraising Direct Expenses$136,865
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Moravian Ball$193,874$138,374$61,613$76,761
Other Events$114,556$114,556$75,252$39,304
Total Events$308,430$252,930$136,865$116,065
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Enrollment Deposits and Advance Payments$810,715
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, Part VI, Section B, Line 11B

The irs form 990, including all required schedules, is reviewed by the academy's audit committee in detail in advance of filing with the irs. The audit committee submits a written report on the 990 review to all members of the board of trustees.

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

Trustees, directors, officers and key employees are required to sign a "conflict of interest" statement and acknowledge any potential conflicts at that time or if and when a conflict should arise in the future. The trustee committee monitors that the statement has been obtained.

Form 990, Part VI, Section B, Line 15

Headmaster compensation committee convenes to determine salary for upcoming contract basing the decision on finances, benchmarking with similar sized schools and performance factors. For other officers and employees a salary and wage increase pool is approved by the board and applies to all other positions and may be altered based on benchmark salary information of key positions in similar schools.

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Moravian Academy
EIN
24-0829838
Phone
6103325288
Address
7 EAST MARKET STREET, BETHLEHEM, PA 18018

Signing Officer

Name
James Kirtland
Title
Director of Business and Financial
Phone
6103325288
Signed
2018-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Kirtland
Formed
1742
Legal Domicile
Pa
Voting Board Members
21
Independent Board Members
21
Employees
331
Volunteers
241

Preparer

Firm
Campbell Rappold & Yurasits Llp
Address
1033 S CEDAR CREST BLVD, ALLENTOWN, PA 18103-5443
Preparer
Melissa a Grube CPA
Phone
6104357489
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

Endowment funds are used to support the mission of moravian academy through the release of 4% of the 12 quarter rolling average to support academic programs, need-based financial aid and upkeep of physical plant.

PART X, LINE 2:

The academy follows the accounting guidance as codified in the financial accounting standards board (fasb) accounting standards codification (asc) 740, income taxes-uncertainty in income taxes. Fasb asc 740 clarifies the accounting for uncertanties in income taxes recognized in the organizations financial statments. The standard 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 standard also provides guidance on derecognition, classification, interest and penalties and disclosure. The academy has no material unrecognized tax benefits or accrued interest or penalties. The academy has filed tax returns in the united states and commonwealth of pennsylvania for the fiscal years ended june 30,2018, 2017 and 2016 which are open for examination by taxing authorities, genreally three years after filing.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Financial aid expense -2,961,741.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Expense related to rental activities -135,784.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Expenses related to rental activities 135,784.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid expense 2,961,741.

Raw XML AppendixShowing 400 of 862 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/ActivityOrMissionDesc0MORAVIAN ACADEMY IS A CHURCH-RELATED SCHOOL WHOSE MORAVIAN TRADITION AFFIRMS THAT YOUNG PEOPLE BEST REALIZE THEIR POTENTIAL IN AN ATMOSPHERE OF LOVE AND UNDERSTANDING. WE SEEK TO PROMOTE THE CHILD'S FULL DEVELOPMENT IN MIND, BODY, AND SPIRIT. SINCE 1742 THE SCHOOL HAS ENCOURAGED SOUND INNOVATIONS TO MEET CONTEMPORARY CHALLENGES WHILE RECOGNIZING THE PERMANENCE OF BASIC HUMAN VALUES.
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IRS990/Form990PartVIISectionAGrp/TitleTxt2TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR OF BUSINESS AND F
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IRS990/Form990PartVIISectionAGrp/TitleTxt33DIRECTOR OF LOWER SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt34DIRECTOR OF PLAN OPERATION
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