Civic Intelligence

Hawken School

990 • Fiscal year 2018 • EIN 34-0714427

Jul 01, 2017 to Jun 30, 2018 • Filed on May 14, 2019

P O Box 8002 County Line RoadGates Mills, OH 44040-8002

(440) 423-2141

Siviq Scores

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

Liabilities / Assets

39th percentile

0.22x

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

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Liabilities / Revenue

59th percentile

0.64x

Higher debt load relative to revenue than 59% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Net Margin

56th percentile

5.8%

Higher net margin than 56% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Top Officer Pay

85th percentile

$1,295,583

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Asset Growth

39th percentile

1.0%

Faster asset growth than 39% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Revenue Growth

75th percentile

16%

Faster revenue growth than 75% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Assets

Up

$135,281,187

Up $1,286,108 (+1.0%) from 2017

Net Assets

Up

$106,074,677

Up $2,454,360 (+2.4%) from 2017

Liabilities

Down

$29,206,510

Down $1,168,252 (-3.8%) from 2017

Revenue

Up

$45,978,488

Up $6,271,384 (+16%) from 2017

Expenses

Up

$43,303,578

Up $2,567,303 (+6.3%) from 2017

Net Income

Up

$2,674,910

Up $3,704,081 (+360%) from 2017

Historical Trend

Balance Sheet Trend

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

$200M$150M$100M$50M$0Assets 2010: $81,702,210Liabilities 2010: $15,948,362Net Assets 2010: $65,753,8482010Assets 2011: $91,633,719Liabilities 2011: $16,732,093Net Assets 2011: $74,901,6262011Assets 2012: $87,756,929Liabilities 2012: $16,754,681Net Assets 2012: $71,002,2482012Assets 2013: $95,137,750Liabilities 2013: $16,248,644Net Assets 2013: $78,889,1062013Assets 2014: $111,850,175Liabilities 2014: $17,429,932Net Assets 2014: $94,420,2432014Assets 2015: $120,520,528Liabilities 2015: $17,663,924Net Assets 2015: $102,856,6042015Assets 2016: $126,026,458Liabilities 2016: $24,833,436Net Assets 2016: $101,193,0222016Assets 2017: $133,995,079Liabilities 2017: $30,374,762Net Assets 2017: $103,620,3172017Assets 2018: $135,281,187Liabilities 2018: $29,206,510Net Assets 2018: $106,074,6772018Assets 2019: $139,626,451Liabilities 2019: $30,910,341Net Assets 2019: $108,716,1102019Assets 2020: $144,772,582Liabilities 2020: $40,289,849Net Assets 2020: $104,482,7332020Assets 2021: $160,991,028Liabilities 2021: $43,126,333Net Assets 2021: $117,864,6952021Assets 2022: $157,487,036Liabilities 2022: $42,092,620Net Assets 2022: $115,394,4162022Assets 2023: $160,326,813Liabilities 2023: $44,566,657Net Assets 2023: $115,760,1562023Assets 2024: $156,419,516Liabilities 2024: $39,225,632Net Assets 2024: $117,193,8842024

Highlighted filing

2018

Assets$135,281,187
Liabilities$29,206,510
Net Assets$106,074,677

Operations Trend

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

$80M$60M$40M$20M$0-$20MExpenses 2010: $27,716,2382010Expenses 2011: $28,247,5272011Expenses 2012: $29,117,4642012Expenses 2013: $30,263,5022013Revenue 2014: $40,908,545Expenses 2014: $32,326,275Net Income 2014: $8,582,2702014Revenue 2015: $45,716,792Expenses 2015: $34,249,437Net Income 2015: $11,467,3552015Revenue 2016: $38,493,297Expenses 2016: $35,689,877Net Income 2016: $2,803,4202016Revenue 2017: $39,707,104Expenses 2017: $40,736,275Net Income 2017: -$1,029,1712017Revenue 2018: $45,978,488Expenses 2018: $43,303,578Net Income 2018: $2,674,9102018Revenue 2019: $49,432,232Expenses 2019: $45,435,804Net Income 2019: $3,996,4282019Revenue 2020: $45,602,433Expenses 2020: $48,146,555Net Income 2020: -$2,544,1222020Revenue 2021: $49,000,513Expenses 2021: $52,856,634Net Income 2021: -$3,856,1212021Revenue 2022: $60,866,272Expenses 2022: $57,288,360Net Income 2022: $3,577,9122022Revenue 2023: $59,728,142Expenses 2023: $61,597,041Net Income 2023: -$1,868,8992023Revenue 2024: $62,645,242Expenses 2024: $65,265,492Net Income 2024: -$2,620,2502024

Highlighted filing

2018

Revenue$45,978,488
Expenses$43,303,578
Net Income$2,674,910
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 14, 2019
Return Version
2017v2.3
Gross Receipts
$142,741,243
Mission and Program Overview

Mission

Hawken school prepares students to navigate a complex and dynamic world with self-confidence and determination; embrace challenges with disciplined analysis and creativity; and engage others with empathy and integrity.

The school is a nonsectarian ps-12 co-ed college prep day school on three campuses, serving over 1,300 students and representing a wide diversity of ethnic, religious, and social groups.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$63,950,121$63,032,665▼ $917,456
Investments in Publicly Traded Securities$45,790,160$52,877,489▲ $7,087,329
Investments Other Securities$14,428,979$10,559,896▼ $3,869,083
Pledges and Grants Receivable$3,578,676$2,333,924▼ $1,244,752
Savings and Temporary Cash Investments$2,884,957$1,024,597▼ $1,860,360
Accounts Receivable$734,211$696,320▼ $37,891
Receivables From Officers Etc$600,000$600,000→ $0
Prepaid Expenses and Deferred Charges$554,217$597,897▲ $43,680
Cash and Non-Interest-Bearing Accounts$500$500→ $0
Total Assets$133,995,079$135,281,187▲ $1,286,108
Other Assets Total$1,473,258$3,557,899▲ $2,084,641
Liabilities
Tax Exempt Bond Liabilities$21,152,367$18,880,354▼ $2,272,013
Deferred Revenue$3,555,002$3,704,182▲ $149,180
Accounts Payable and Accrued Expenses$3,380,871$3,348,446▼ $32,425
Unsecured Notes Loans Payable$1,603,415$2,300,000▲ $696,585
Other Liabilities$683,107$973,528▲ $290,421
Total Liabilities$30,374,762$29,206,510▼ $1,168,252
Net Assets / Fund Balance
Unrestricted Net Assets$92,358,531$94,993,795▲ $2,635,264
Permanently Rstr Net Assets$6,973,722$7,140,964▲ $167,242
Temporarily Rstr Net Assets$4,288,064$3,939,918▼ $348,146
Total Net Assets Fund Balance$103,620,317$106,074,677▲ $2,454,360
Total Liabilities and Net Assets / Fund Balance$133,995,079$135,281,187▲ $1,286,108

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$57,346,017$24,980,598$82,326,615
Equipment$1,501,739$5,692,732$7,194,471
Other Land Buildings$2,602,513$2,474,192$5,076,705
Land$1,582,396-$1,582,396
Other Securities$10,559,896--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$59,626,049$234,960▲ $5,690,678$2,483,774$63,067,913
2016$54,158,819$83,540▲ $6,636,500$1,252,810$59,626,049
2015$57,987,616$937,289▼ $2,325,321$2,440,765$54,158,819
2014$59,145,199$314,938▲ $685,589$2,158,110$57,987,616
2013$49,544,140$1,048,012▲ $10,317,540$1,764,493$59,145,199
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
D Scott LooneyHead of SchoolFT$432,110$863,473$1,295,583
Stephanie TollesonChief Operating OfficerFT$200,893$16,946$217,839
Heather DalyAsst Hd EnrollmentFT$117,913$97,208$215,121
Kim SamsonAsst Hd Gates Mills CampusFT$139,992$73,669$213,661
Terrence DubowDirector of Special ProjectsFT$102,891$82,898$185,789
Donna PacchioniChief Financial Officer (former)FT$148,758$27,104$175,862
Anthony WannerDirector of Facilities & Trans.FT$113,624$46,939$160,563
Ryan WooleyChief Technology OfficerFT$120,784$29,973$150,757
Garet LibbeyAssistant Head LyndhurstFT$123,821$25,622$149,443
Charles DebelakHead of School, Birchwood SchoolFT$134,586$3,771$138,357
Sam SteinhouseChief Financial OfficerFT$108,717$10,119$118,836

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Albert M Higley CompanyConstruction Services2926 CHESTER AVE, Cleveland, OH 44114$1,648,055
Sage Dining Services INCFood Service1402 YORK ROAD SUITE 100, Lutherville, MD 21093$1,010,958
Huntington National BankCredit Card ProcessingPO BOX 182387, Columbus, OH 43218$774,758
The Illuminating CoElectric UtilityPO BOX 3687, Akron, OH 44309$593,539
Cdw Government INCComputer Equipment Provider75 REMITTANCE DRIVE STE 1515, Chicago, IL 60675$456,122
Revenue and Support

Revenue Composition

Contributions and Grants
$5,351,395
Program Service Revenue
$34,463,256
Investment Income
$5,999,891
Other Revenue
$163,946
All Other Contributions
$3,949,498
Change in Net Assets
$2,674,910

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded67$815,061Fair Market Value (FMV)
Total Noncash Contributions67$815,061-

Audited Revenue Reconciliation

Revenue per Audited Statements
$36,950,909
Revenue Not Reported on Financial Statements
$9,027,579
Revenue Not Reported on Form 990
$-188,161
Other Revenue Adjustments
$9,027,579
Total Revenue per Audited Statements
$36,762,748
Total Revenue per Form 990
$45,978,488
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$21,148,658
Other Expenses$13,127,341
Grants and Similar Amounts Paid$9,027,579
Total Fundraising Expense$1,434,025
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$12,778,209$540,846$824,329$14,143,384
Grants to Domestic Individuals$9,027,579--$9,027,579
Other Employee Benefits$2,686,771$509,651$134,148$3,330,570
Depreciation Depletion$2,738,424--$2,738,424
All Other Expenses$772,991$1,486,071$24,557$2,283,619
Current Officers, Directors, Trustees, and Key Employees-$1,590,281-$1,590,281
Payroll Taxes$1,054,202$67,349$68,007$1,189,558
Occupancy$935,772--$935,772
Pension Plan Contributions$769,695$78,443$46,727$894,865
Other Expenses$836,918$707,519-$707,519
Advertising-$170,899$326,727$497,626
Interest-$393,871-$393,871
Insurance-$267,047-$267,047
Information Technology$197,403--$197,403
Travel$96,018$5,948$8,571$110,537
Fees for Services Accounting-$54,895-$54,895
Fees for Services Legal-$50,249-$50,249
Office Expenses$15,814$14,965$959$31,738
Total Functional Expenses$35,931,519$5,938,034$1,434,025$43,303,578

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$43,303,578
Total Expenses per Audited Statements$34,308,388
Expenses per Audited Statements$34,275,999
Expenses Not Reported on Financial Statements$9,027,579
Other Expense Adjustments$9,027,579
Expenses Not Reported on Form 990$32,389
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$61,444
Fundraising Direct Expenses$15,710
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Ifa$53,148$53,148$9,533$43,615
Parent Fundraiser$8,296$8,296$1,407$6,889
Total Events$61,444$61,444$15,710$45,734
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
Charles DebelakFamily Member of TrusteeCompensation Paid to Family MemberNo$117,500
Michelle HarrisFamily Member of TrusteeCompensation Paid to Family MemberNo$116,322
Helene DebelakFamily Member of TrusteeCompensation Paid to Family MemberNo$97,500

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$600,000$600,000→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Agency Funds$784,020
Other Liabilities$100,203
Interest Rate Swap$89,305

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Lyndhurst Oh2015-08-12$27,800,000REFIN.&CONSTR.

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$14,800,000$9,758,000-$242,000

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
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
Yes
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
No
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

Family and business relationships - the following individuals have a family relationship: laura spilman and stacie halpern; brinton lincoln & james d. Lincoln; anthoni visconsi ii and dominic a. Visconsi, jr. The following individuals have a business relationship: laura spilman and stacie halpern; anthoni visconsi ii and dominic a. Visconsi, jr.; paul harris, jennifer grossman, and alan rosskamm; dan brown, paul harris, charles p. Cooley, & shaquira johnson richard t. Marabito, dan brown, charles p. Cooley, shaquira johnson, & paul harris

Form 990, Part VI, Section A, Line 7A

Power to elect members of governing body - the trustees have the power to elect other trustees.

Form 990, Part VI, Section B, Line 11B

Form 990 review - the form 990 is reviewed by the executive committee on authority delegated by the school's full board. The tax return is reviewed with the assistance of the outside public accounting firm.

Form 990, Part VI, Section B, Line 11B

Providing form 990 to governing body - the school provides a copy of form 990 to the full board of trustees before it is filed, but it redacts the names and addresses of donors from schedule b. The school considers donor information to be confidential. As such, we are required to answer "no" to the question on line 11a of part vi even though the board has received a copy of the 990 except for donors' names and addresses.

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

Monitoring and enforcement of conflict policy - the board's committee on trustees reviews the annual disclosure forms turned in by officers and other trustees. If a conflict arises, the effected person is not permitted to vote on the matter or participate in the discussion of the transaction. Trustees who are independent of the individual with the conflict vote on the transaction.

Form 990, Part VI, Section B, Line 15A

Compensation review and approval - during 2017, an outside compensation consultant was hired to evaluate and make recommendations on the compensation for the head of school. The consultant used appropriate comparability data. The process of the determination of the head of school's compensation was documented and is on file at the school. In 2017, a new five-year contract was entered into, which determines the head of school's compensation for that five-year period.

Form 990, Part VI, Section C, Line 19

Availability of documents - the school makes its governing documents and conflict of interest policy available to the public upon request. Generally, it does not make its financial statements available.

Filing and Contact Details

Filer

Filer Name
Hawken School
EIN
34-0714427
Phone
4404232141
Address
P O BOX 8002 COUNTY LINE ROAD, GATES MILLS, OH 44040-8002

Signing Officer

Name
Samuel a Steinhouse
Title
Chief Financial Officer
Phone
4404232141
Signed
2019-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
D Scott Looney
Formed
1915
Legal Domicile
Oh
Voting Board Members
35
Independent Board Members
35
Employees
583
Volunteers
535

Preparer

Firm
Maloney Novotny LLC
Address
1111 SUPERIOR AVE SUITE 700, CLEVELAND, OH 44114-2540
Preparer
Christopher B Anderson
Phone
2163630100
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in interest rate swap liability 77,051.

Financial Statement Notes

PART V, LINE 4:

Intended use of endowment funds - the school's endowment consists of permanently restricted, temporarily restricted, and unrestricted funds established for a variety of purposes. Income from endowment funds and board-designated funds is appropriated based on an approval process through the board of trustees. The funds are spent to further the educational purposes of the school.

PART X, LINE 2:

Fin 48 (asc 740) footnote - the school is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. The school believes it has appropriate support for any tax positions taken and, as such, does not have any uncertain tax positions that are material to the financial statements. The school's federal exempt organization business returns are subject to examination by the irs, generally for three years after they are filed.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Rental expenses 32,389. Change in interest rate swap 77,051.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Student financial aid, which was shown as a reduction of revenue on financial statements but as an expense on form 990 9,027,579.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

RENTAL EXPENSES 32,389.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Student financial aid, which was shown as a reduction of revenue on financial statements but as an expense on form 990 9,027,579.

Raw XML AppendixShowing 400 of 1,167 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/Desc0PROVIDING EDUCATIONAL INSTRUCTION TO PRIMARY AND SECONDARY STUDENTS WITH AN EMPHASIS ON COLLEGE PREPAREDNESS. OVER 1,300 STUDENTS RECEIVED ACADEMIC INSTRUCTION AS WELL AS EXTRACURRICULAR DEVELOPMENT THROUGH ATHLETICS, ARTS, AND OTHER PROGRAMS.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$156$39.2$117$62.6$65.3$2.62
2023Detailed filing. Detailed filing data is available for this year.$160$44.6$116$59.7$61.6$1.87
2022Detailed filing. Detailed filing data is available for this year.$157$42.1$115$60.9$57.3$3.58
2021Detailed filing. Detailed filing data is available for this year.$161$43.1$118$49.0$52.9$3.86
2020Detailed filing. Detailed filing data is available for this year.$145$40.3$104$45.6$48.1$2.54
2019Detailed filing. Detailed filing data is available for this year.$140$30.9$109$49.4$45.4$4.00
2018Detailed filing. Detailed filing data is available for this year.$135$29.2$106$46.0$43.3$2.67
2017Detailed filing. Detailed filing data is available for this year.$134$30.4$104$39.7$40.7$1.03
2016Detailed filing. Detailed filing data is available for this year.$126$24.8$101$38.5$35.7$2.80
2015Detailed filing. Detailed filing data is available for this year.$121$17.7$103$45.7$34.2$11.5
2014Detailed filing. Detailed filing data is available for this year.$112$17.4$94.4$40.9$32.3$8.58
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$95.1$16.2$78.9$30.3
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$87.8$16.8$71.0$29.1
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$91.6$16.7$74.9$28.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$81.7$15.9$65.8$27.7