Civic Intelligence

University School

990 • Fiscal year 2016 • EIN 34-0714720

Jul 01, 2015 to Jun 30, 2016 • Filed on May 10, 2017

20701 Brantley RoadShaker Heights, OH 44122

(216) 932-0400

Siviq Scores

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

Liabilities / Assets

28th percentile

0.15x

Higher debt load relative to assets than 28% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Liabilities / Revenue

60th percentile

0.68x

Higher debt load relative to revenue than 60% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Net Margin

22nd percentile

-4.4%

Higher net margin than 22% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Top Officer Pay

40th percentile

$392,911

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2016

Asset Growth

8th percentile

-8.1%

Faster asset growth than 8% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Revenue Growth

18th percentile

-11%

Faster revenue growth than 18% of similar nonprofits.

2016 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2015 to 2016

Assets

Down

$152,439,241

Down $13,510,247 (-8.1%) from 2015

Net Assets

Down

$130,122,014

Down $5,931,921 (-4.4%) from 2015

Liabilities

Down

$22,317,227

Down $7,578,326 (-25%) from 2015

Revenue

Down

$32,617,798

Down $4,114,396 (-11%) from 2015

Expenses

Up

$34,054,437

Up $241,239 (+0.7%) from 2015

Net Income

Down

-$1,436,639

Down $4,355,635 (-149%) from 2015

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2011: $131,782,357Liabilities 2011: $20,664,236Net Assets 2011: $111,118,1212011Assets 2012: $157,107,334Liabilities 2012: $38,307,531Net Assets 2012: $118,799,8032012Assets 2013: $167,071,709Liabilities 2013: $39,358,286Net Assets 2013: $127,713,4232013Assets 2014: $169,811,552Liabilities 2014: $32,981,419Net Assets 2014: $136,830,1332014Assets 2015: $165,949,488Liabilities 2015: $29,895,553Net Assets 2015: $136,053,9352015Assets 2016: $152,439,241Liabilities 2016: $22,317,227Net Assets 2016: $130,122,0142016Assets 2017: $155,380,277Liabilities 2017: $19,449,704Net Assets 2017: $135,930,5732017Assets 2018: $159,097,616Liabilities 2018: $18,602,168Net Assets 2018: $140,495,4482018Assets 2019: $156,148,665Liabilities 2019: $17,551,932Net Assets 2019: $138,596,7332019Assets 2021: $196,923,470Liabilities 2021: $18,270,057Net Assets 2021: $178,653,4132021Assets 2024: $231,937,004Liabilities 2024: $15,715,319Net Assets 2024: $216,221,6852024

Highlighted filing

2016

Assets$152,439,241
Liabilities$22,317,227
Net Assets$130,122,014

Operations Trend

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

$80M$60M$40M$20M$0-$20MExpenses 2011: $29,642,6232011Expenses 2012: $29,292,1332012Expenses 2013: $30,321,1792013Revenue 2014: $33,614,424Expenses 2014: $31,935,813Net Income 2014: $1,678,6112014Revenue 2015: $36,732,194Expenses 2015: $33,813,198Net Income 2015: $2,918,9962015Revenue 2016: $32,617,798Expenses 2016: $34,054,437Net Income 2016: -$1,436,6392016Revenue 2017: $34,214,401Expenses 2017: $35,217,840Net Income 2017: -$1,003,4392017Revenue 2018: $35,949,948Expenses 2018: $35,948,944Net Income 2018: $1,0042018Revenue 2019: $36,500,516Expenses 2019: $37,647,312Net Income 2019: -$1,146,7962019Revenue 2021: $66,975,999Expenses 2021: $41,065,425Net Income 2021: $25,910,5742021Revenue 2024: $59,209,631Expenses 2024: $45,992,307Net Income 2024: $13,217,3242024

Highlighted filing

2016

Revenue$32,617,798
Expenses$34,054,437
Net Income-$1,436,639
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 10, 2017
Return Version
2015v3.0
Gross Receipts
$49,797,591
Mission and Program Overview

Mission

The mission of university school is to develop promising and motivated boys into accomplished and independent young men who aspire to make a difference in the world. The school is rigorous. Our programs, led by challenging and supportive faculty, promote intellectual, physical, creative, and moral excellence. We believe these goals are best achieved in a diverse community where tradition is valued and where every boy is known and loved.

The mission of university school is to develop promising and motivated young boys into accomplished and independent young men who aspire to make a difference in the world.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$67,985,812$65,803,467▼ $2,182,345
Investments in Publicly Traded Securities$41,673,285$40,976,265▼ $697,020
Investments Other Securities$38,997,498$35,092,814▼ $3,904,684
Savings and Temporary Cash Investments$5,300,523$4,412,385▼ $888,138
Pledges and Grants Receivable$6,528,215$2,517,340▼ $4,010,875
Prepaid Expenses and Deferred Charges$1,153,891$1,203,538▲ $49,647
Accounts Receivable$332,072$346,600▲ $14,528
Inventories for Sale or Use$183,894$160,930▼ $22,964
Total Assets$165,949,488$152,439,241▼ $13,510,247
Other Assets Total$3,794,298$1,925,902▼ $1,868,396
Liabilities
Tax Exempt Bond Liabilities$22,238,796$17,864,615▼ $4,374,181
Accounts Payable and Accrued Expenses$2,202,674$1,873,257▼ $329,417
Deferred Revenue$2,656,573$1,456,720▼ $1,199,853
Other Liabilities$2,797,510$1,122,635▼ $1,674,875
Total Liabilities$29,895,553$22,317,227▼ $7,578,326
Net Assets / Fund Balance
Unrestricted Net Assets$79,025,935$79,963,495▲ $937,560
Permanently Rstr Net Assets$45,135,269$45,490,097▲ $354,828
Temporarily Rstr Net Assets$11,892,731$4,668,422▼ $7,224,309
Total Net Assets Fund Balance$136,053,935$130,122,014▼ $5,931,921
Total Liabilities and Net Assets / Fund Balance$165,949,488$152,439,241▼ $13,510,247

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$61,078,246$41,730,501$102,808,747
Equipment$2,010,030$2,401,553$4,411,583
Land$2,715,191-$2,715,191
Other Securities$35,092,814--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$78,824,084$1,259,448▼ $2,545,869$3,234,134$74,303,529
2014$81,461,782$1,378,211▼ $236,404$3,779,505$78,824,084
2013$72,471,451$903,859▲ $10,881,043$2,794,571$81,461,782
2012$65,623,912$3,265,084▲ $7,307,832$3,725,377$72,471,451
2011$63,647,970$6,010,262▼ $720,323$3,313,997$65,623,912
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jonathan BridgeDirector of AdvancementFT$192,189$200,722$392,911
David WrightFinance DirectorFT$193,264$148,683$341,947
Bruce WilhelmHead of Shaker CampusFT$158,285$85,578$243,863
Benjamin ReinIncoming HeadmasterFT$167,010$72,858$239,868
Steve MurrayHeadmaster (first Half 2015)FT$171,791$49,836$221,627
WILLIAM O'NEILAssistant HeadmasterFT$169,961$28,809$198,770
Peter DevineDirector of It/plant ServicesFT$143,914$37,976$181,890
Greg MalkinDirector of Entrepreneur Prog.FT$118,002$49,275$167,277

Highest Paid Contractors

ContractorServicesLocationCompensation
Smith & ObyBoiler/steam Contractor7676 NORTHFIELD ROAD, Walton Hills, OH 44146$140,547
Ritenour GroupInstallation2066 CASE PARKWAY SOUTH, Twinsburg, OH 44087$117,000
Biz EdgeComputer TechPO BOX 1263, Twinsburg, OH 44087$111,125
Revenue and Support

Revenue Composition

Contributions and Grants
$5,074,555
Program Service Revenue
$25,544,764
Investment Income
$1,878,573
Other Revenue
$119,906
All Other Contributions
$2,034,712
Change in Net Assets
$-1,436,639

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 Traded4$176,584Fair Market Value (FMV)
Total Noncash Contributions4$176,584-

Audited Revenue Reconciliation

Revenue per Audited Statements
$27,956,716
Revenue Not Reported on Financial Statements
$4,661,082
Revenue Not Reported on Form 990
$-3,302,458
Other Revenue Adjustments
$4,661,082
Total Revenue per Audited Statements
$24,654,258
Total Revenue per Form 990
$32,617,798
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$18,667,545
Other Expenses$10,725,810
Grants and Similar Amounts Paid$4,661,082
Total Fundraising Expense$1,111,650
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$11,661,057$1,292,242$760,357$13,713,656
Grants to Domestic Individuals$4,661,082--$4,661,082
Depreciation Depletion$3,352,379--$3,352,379
Other Employee Benefits$1,745,712$453,432$68,015$2,267,159
All Other Expenses$1,470,740$259,784$25,354$1,755,878
Pension Plan Contributions$1,002,743$260,453$39,068$1,302,264
Payroll Taxes$801,929$208,293$31,244$1,041,466
Office Expenses$588,451$147,113-$735,564
Other Expenses$624,586$32,054$32,054$624,586
Interest$573,160--$573,160
Information Technology$520,703--$520,703
Advertising$324,907$43,321$64,981$433,209
Current Officers, Directors, Trustees, and Key Employees$85,750$171,500$85,750$343,000
Insurance$211,009--$211,009
Fees for Services Accounting-$83,721$4,406$88,127
Fees for Services Legal-$8,007$421$8,428
Total Functional Expenses$29,982,867$2,959,920$1,111,650$34,054,437

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$34,054,437
Total Expenses per Audited Statements$30,565,749
Expenses per Audited Statements$29,393,355
Expenses Not Reported on Financial Statements$4,661,082
Other Expense Adjustments$4,661,082
Expenses Not Reported on Form 990$1,172,394
International Activity

International Summary

Offices
0
Employees
0
Spending
$8,789,402

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland & Greenland)Investments-00$3,750,000
Central America and the CaribbeanInvestments-00$3,171,952
North AmericaInvestments-00$1,867,450
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$193,255
Fundraising Direct Expenses$122,358
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Auction$410,263$193,255$67,434$125,821
Total Events$410,263$193,255$122,358$70,897
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit-construction$800,000
Split Interest Agreements$263,800
Interest Rate Swap$58,835

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACuyahoga County Economic Revenue Bonds2010-12-31$17,000,000EDUCATIONAL FACILITIES
BCuyahoga County Economic Revenue Bonds2012-11-01$15,000,000EDUCATIONAL FACILITIES

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$17,000,000-$14,920,114$127,000
B$15,000,000--$79,886

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

Governance Explanations

Form 990, Part VI, Section A, Line 2

Family relationships - james griswold and john griswold have a family relationship.

Form 990, Part VI, Section B, Line 11

Review of form 990 - the board of trustees has delegated the review of form 990 to the finance committee. Upon completion of that review, the highlights of the return are reported to the full board.

Form 990, Part VI, Section B, Line 11

Form 990 provided to governing body - the school has distributed form 990 to the full board of trustees with the exception of donor information on schedule b. The school believes that donor information is confidential. As such, we are required to answer "no" to the question on line 11a even though a copy of form 990 (with redacted donor information on schedule b) was provided to the trustees.

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

Monitoring and enforcement of conflict policy - the school's conflict of interest policy is mailed annually to trustees and distributed at board meetings. When a conflict arises, the individual is not permitted to vote or participate in the discussion of the transaction. Persons that are independent of the individual with the conflict make the decision about the transaction. The deliberations and decision are documented in the minutes of the board.

Form 990, Part VI, Section B, Line 15

Compensation review and approval - the executive committee of the board reviews and approves the compensation for the headmaster and finance director annually. The finance director reviews the compensation of the executive staff. Periodically, comparable compensation data from other similar schools is reviewed and the data is used in determining the compensation of the executive staff. The members of the board are independent of the executive staff and other employees of the school.

Form 990, Part VI, Section C, Line 19

Availability of documents - the school makes its governing documents, financial statements, and conflict policy available to the public upon request.

Filing and Contact Details

Filer

Filer Name
University School
EIN
34-0714720
Phone
2169320400
Address
20701 BRANTLEY ROAD, SHAKER HEIGHTS, OH 44122

Signing Officer

Name
David Wright
Title
Finance Director
Phone
2169320400
Signed
2017-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Benjamin Rein
Formed
1890
Legal Domicile
Oh
Voting Board Members
49
Independent Board Members
49
Employees
453
Volunteers
100

Preparer

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

Financial Statement Notes

PART V, LINE 4:

Intended use of endowment funds - income from endowment funds and board-designated funds is appropriated based on an approval process through the board of trustees. Specific committees recommend amounts to be disbursed from the accumulated earnings of the endowment funds, which are then approved for appropriation by the board of trustees. Endowment funds disbursements are used to further the exempt educational purposes of the school.

PART X, LINE 2:

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

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Net revenue of university school alumni association which was included in the consolidated financial statements with university school 469,824.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Grants included in revenue per the financial statements but shown as expense on 990. 4,661,082.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Net expenses of university school alumni association which were included in the consolidated financial statements with university school 449,394.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Grants included in revenue per the financial statements but shown as expense on 990. 4,661,082.

Raw XML AppendixShowing 400 of 1,325 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/Form990PartVIISectionAGrp/PersonNm0HENRY L MEYER III
IRS990/Form990PartVIISectionAGrp/PersonNm1DAVID C FULTON JR
IRS990/Form990PartVIISectionAGrp/PersonNm2JAMES B GRISWOLD
IRS990/Form990PartVIISectionAGrp/PersonNm3CHRISTOPHER SMYTHE
IRS990/Form990PartVIISectionAGrp/PersonNm4ROBERT G MCCREARY III
IRS990/Form990PartVIISectionAGrp/PersonNm5DALE S ADLER
IRS990/Form990PartVIISectionAGrp/PersonNm6RICHARD C BRYAN
IRS990/Form990PartVIISectionAGrp/PersonNm7BRENT BALLARD SR
IRS990/Form990PartVIISectionAGrp/PersonNm8ARTHUR L CLEMENTS III
IRS990/Form990PartVIISectionAGrp/PersonNm9MATTHEW V CRAWFORD
IRS990/Form990PartVIISectionAGrp/PersonNm10C MARTIN HARRIS
IRS990/Form990PartVIISectionAGrp/PersonNm11RICHARD R HOLLINGTON IIII
IRS990/Form990PartVIISectionAGrp/PersonNm12CHRISTOPHER M GORMAN
IRS990/Form990PartVIISectionAGrp/PersonNm13WILLIAM M MATTHES
IRS990/Form990PartVIISectionAGrp/PersonNm14DAVID B OUTCALT
IRS990/Form990PartVIISectionAGrp/PersonNm15TYLER T ZACHEM
IRS990/Form990PartVIISectionAGrp/PersonNm16THOMAS A TORMEY
IRS990/Form990PartVIISectionAGrp/PersonNm17DURGA CHIGURAPATI
IRS990/Form990PartVIISectionAGrp/PersonNm18DEBORAH V DONLEY
IRS990/Form990PartVIISectionAGrp/PersonNm19MICHAEL FOUST
IRS990/Form990PartVIISectionAGrp/PersonNm20JOHN A GRISWOLD
IRS990/Form990PartVIISectionAGrp/PersonNm21SUBER S HUANG
IRS990/Form990PartVIISectionAGrp/PersonNm22JAMES C KRALIK
IRS990/Form990PartVIISectionAGrp/PersonNm23CHARLES L MYERS
IRS990/Form990PartVIISectionAGrp/PersonNm24STEPHEN A OSBORN
IRS990/Form990PartVIISectionAGrp/PersonNm25LARRY I POLLOCK
IRS990/Form990PartVIISectionAGrp/PersonNm26JEREMIAH B ROBINS
IRS990/Form990PartVIISectionAGrp/PersonNm27FREDERICK G STUEBER II
IRS990/Form990PartVIISectionAGrp/PersonNm28JD SULLIVAN JR
IRS990/Form990PartVIISectionAGrp/PersonNm29STEVEN J TERRELL
IRS990/Form990PartVIISectionAGrp/PersonNm30FRANKLIN P FLOYD JR
IRS990/Form990PartVIISectionAGrp/PersonNm31RICHARD P STOVSKY
IRS990/Form990PartVIISectionAGrp/PersonNm32JOHN M GHERLEIN
IRS990/Form990PartVIISectionAGrp/PersonNm33RONALD S LEE
IRS990/Form990PartVIISectionAGrp/PersonNm34CARL P SJOGREEN
IRS990/Form990PartVIISectionAGrp/PersonNm35DAVID R SMITH
IRS990/Form990PartVIISectionAGrp/PersonNm36CARL J TIPPIT
IRS990/Form990PartVIISectionAGrp/PersonNm37DALE R NAYLOR
IRS990/Form990PartVIISectionAGrp/PersonNm38MARC BYRNES
IRS990/Form990PartVIISectionAGrp/PersonNm39FREDERICK ASBECK
IRS990/Form990PartVIISectionAGrp/PersonNm40RALPH R BANKS
IRS990/Form990PartVIISectionAGrp/PersonNm41PAMELA B DAVIS MD PHD
IRS990/Form990PartVIISectionAGrp/PersonNm42THOMAS GRAHAM MD
IRS990/Form990PartVIISectionAGrp/PersonNm43RAYMOND C HEADEN
IRS990/Form990PartVIISectionAGrp/PersonNm44HOWARD W HANNA IV
IRS990/Form990PartVIISectionAGrp/PersonNm45J DAVID HELLER
IRS990/Form990PartVIISectionAGrp/PersonNm46ANTHONY J SALEWSKI
IRS990/Form990PartVIISectionAGrp/PersonNm47NEIL SETHI
IRS990/Form990PartVIISectionAGrp/PersonNm48MARQUES D TORBERT

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$232$15.7$216$59.2$46.0$13.2
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$197$18.3$179$67.0$41.1$25.9
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$156$17.6$139$36.5$37.6$1.15
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$159$18.6$140$35.9$35.9$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$155$19.4$136$34.2$35.2$1.00
2016Detailed filing. Detailed filing data is available for this year.$152$22.3$130$32.6$34.1$1.44
2015Detailed filing. Detailed filing data is available for this year.$166$29.9$136$36.7$33.8$2.92
2014Detailed filing. Detailed filing data is available for this year.$170$33.0$137$33.6$31.9$1.68
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$167$39.4$128$30.3
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$157$38.3$119$29.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$132$20.7$111$29.6