Civic Intelligence

Roycemore School

990 • Fiscal year 2022 • EIN 36-1711590

Jul 01, 2021 to Jun 30, 2022 • Filed on Mar 18, 2023

Refreshing map…

1200 Davis StreetEvanston, IL 60201

(847) 866-6055

Siviq Scores

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

Liabilities / Assets

86th percentile

0.75x

Higher debt load relative to assets than 86% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

84th percentile

1.37x

Higher debt load relative to revenue than 84% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

64th percentile

14%

Higher net margin than 64% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

58th percentile

$200,695

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

71st percentile

10%

Faster asset growth than 71% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

39th percentile

-1.3%

Faster revenue growth than 39% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Up

$14,313,486

Up $1,332,005 (+10%) from 2021

Net Assets

Up

$3,548,396

Up $1,051,135 (+42%) from 2021

Liabilities

Up

$10,765,090

Up $280,870 (+2.7%) from 2021

Revenue

Down

$7,853,184

Down $107,155 (-1.3%) from 2021

Expenses

Up

$6,747,550

Up $493,986 (+7.9%) from 2021

Net Income

Down

$1,105,634

Down $601,141 (-35%) from 2021

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0-$5.0MAssets 2012: $17,777,600Liabilities 2012: $15,149,986Net Assets 2012: $2,627,6142012Assets 2014: $17,979,768Liabilities 2014: $15,129,179Net Assets 2014: $2,850,5892014Assets 2015: $16,346,460Liabilities 2015: $15,275,126Net Assets 2015: $1,071,3342015Assets 2016: $16,379,817Liabilities 2016: $16,054,930Net Assets 2016: $324,8872016Assets 2017: $14,809,605Liabilities 2017: $15,471,097Net Assets 2017: -$661,4922017Assets 2019: $13,098,405Liabilities 2019: $12,369,750Net Assets 2019: $728,6552019Assets 2020: $12,602,496Liabilities 2020: $11,818,453Net Assets 2020: $784,0432020Assets 2021: $12,981,481Liabilities 2021: $10,484,220Net Assets 2021: $2,497,2612021Assets 2022: $14,313,486Liabilities 2022: $10,765,090Net Assets 2022: $3,548,3962022Assets 2024: $14,797,058Liabilities 2024: $9,644,894Net Assets 2024: $5,152,1642024

Highlighted filing

2022

Assets$14,313,486
Liabilities$10,765,090
Net Assets$3,548,396

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2012: $4,845,9292012Revenue 2014: $6,373,093Expenses 2014: $6,139,611Net Income 2014: $233,4822014Revenue 2015: $4,990,850Expenses 2015: $6,772,589Net Income 2015: -$1,781,7392015Revenue 2016: $5,170,991Expenses 2016: $6,768,738Net Income 2016: -$1,597,7472016Revenue 2017: $6,741,939Expenses 2017: $7,667,155Net Income 2017: -$925,2162017Revenue 2019: $5,980,222Expenses 2019: $6,479,103Net Income 2019: -$498,8812019Revenue 2020: $6,505,186Expenses 2020: $6,449,982Net Income 2020: $55,2042020Revenue 2021: $7,960,339Expenses 2021: $6,253,564Net Income 2021: $1,706,7752021Revenue 2022: $7,853,184Expenses 2022: $6,747,550Net Income 2022: $1,105,6342022Revenue 2024: $8,113,151Expenses 2024: $8,364,909Net Income 2024: -$251,7582024

Highlighted filing

2022

Revenue$7,853,184
Expenses$6,747,550
Net Income$1,105,634
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Mar 18, 2023
Return Version
2021v4.2
Gross Receipts
$7,888,942
Mission and Program Overview

Mission

Educational, Regular and Summer School for ages 3 to grade 12.

To inspire and nurture excellence and prepare each student for success in higher educaiton.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,232,922$10,922,400▼ $310,522
Cash and Non-Interest-Bearing Accounts$1,613,418$2,273,305▲ $659,887
Pledges and Grants Receivable$67,000$623,935▲ $556,935
Investments in Publicly Traded Securities$0$446,425▲ $446,425
Accounts Receivable$13,834$21,547▲ $7,713
Total Assets$12,981,481$14,313,486▲ $1,332,005
Other Assets Total$54,307$25,874▼ $28,433
Liabilities
Tax Exempt Bond Liabilities$7,895,756$7,773,504▼ $122,252
Deferred Revenue$2,050,815$2,480,711▲ $429,896
Accounts Payable and Accrued Expenses$537,649$510,875▼ $26,774
Total Liabilities$10,484,220$10,765,090▲ $280,870
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,267,261$1,988,514▼ $278,747
Net Assets With Donor Restrictions$230,000$1,559,882▲ $1,329,882
Total Net Assets Fund Balance$2,497,261$3,548,396▲ $1,051,135
Total Liabilities and Net Assets / Fund Balance$12,981,481$14,313,486▲ $1,332,005

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,358,497$3,670,182$14,028,679
Land$560,000-$560,000
Equipment$3,903$412,980$416,883

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$29,306$500▼ $3,932-$25,874
2020$22,863-▲ $6,443-$29,306
2019$22,679$411--$22,863
2018$21,775$1,121--$22,679
2017$15,563$5,000▲ $1,376-$21,775
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Adrianne Finley OdellHead of SchoolFT$200,695$200,695
Vicky PickettDirector of FinanceFT$82,759$82,759
Revenue and Support

Revenue Composition

Contributions and Grants
$1,691,190
Program Service Revenue
$5,979,089
Investment Income
$141
Other Revenue
$182,764
All Other Contributions
$1,667,320
Change in Net Assets
$1,105,634

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
Securities Publicly Traded3$96,572Fair Market Value (FMV)
Other Non Cash Contri Table69$17,197Fair Market Value (FMV)
Other Non Cash Contri Table1$3,285Fair Market Value (FMV)
Total Noncash Contributions73$117,054-

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,670,476
Revenue Not Reported on Financial Statements
$1,182,708
Revenue Not Reported on Form 990
$260,892
Other Revenue Adjustments
$1,182,708
Total Revenue per Audited Statements
$6,931,368
Total Revenue per Form 990
$7,853,184
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,709,088
Other Expenses$1,855,754
Grants and Similar Amounts Paid$1,182,708
Total Fundraising Expense$144,730
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,687,953$90,662$18,463$2,797,078
Grants to Domestic Individuals$1,182,708--$1,182,708
Interest-$381,715-$381,715
Depreciation Depletion$332,156$21,590$3,810$357,556
Occupancy$329,398$21,411$3,778$354,587
Other Employee Benefits$271,779$28,180$7,651$307,610
Current Officers, Directors, Trustees, and Key Employees$10,035$209,073$64,346$283,454
Payroll Taxes$220,815$22,606$6,216$249,637
Advertising-$92,741-$92,741
Pension Plan Contributions$63,002$6,533$1,774$71,309
Fees for Services Other$20,054$38,323$4,158$62,535
Information Technology$50,366$3,293$906$54,565
Fees for Services Accounting-$26,115-$26,115
Other Expenses$81,152$927$18,700$19,627
Fees for Services Legal-$18,725-$18,725
All Other Expenses$14,115-$1,771$15,886
Total Functional Expenses$5,483,617$1,119,203$144,730$6,747,550

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$6,747,550
Total Expenses per Audited Statements$5,880,230
Expenses per Audited Statements$5,564,842
Expenses Not Reported on Financial Statements$1,182,708
Other Expense Adjustments$1,182,708
Expenses Not Reported on Form 990$315,388
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$183,562
Fundraising Direct Expenses$35,758
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Spring Fundraising Event$183,562$183,562-$183,562
Total Events$183,562$183,562$35,758$147,804
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
CCity of Evanston Educational Facility Revenue Bonds Series 20212021-04-01$4,000,000REFINANCE TAXABLE NOTE
BCity of Evanston Educational Facility Revenue Bonds Series 20212021-04-01$2,360,000REFINANCE TAXABLE NOTE
ACity of Evanston Educational Facility Revenue Bonds Series 20212021-04-01$1,915,000REFINANCE TAXABLE NOTE

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
C$4,000,000--$182,568
B$2,360,000--$107,715
A$1,915,000-$135,000$87,404

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
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 35% controlled entity
No
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 head of school and the finance committee review the form 990. Each member of the board of trustees receives a copy of the form 990.

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

Officers and trustees are asked annually to disclose interests. The chair of the board and the president of the corporation monitor and enforce the policy.

Form 990, Part VI, Section B, Line 15

The board of trustees decides and approves the rates for the head of school. The board is not compensated. The head of school decides the compensation for staff members. The board of trustees approves the overall budget. The board is not compensated.

Form 990, Part VI, Section C, Line 19

Financial statements, policies, and governing documents are kept at the administrative office and may be reviewed upon request.

Filing and Contact Details

Filer

Filer Name
Roycemore School
EIN
36-1711590
Phone
8478666055
Address
1200 DAVIS STREET, EVANSTON, IL 60201

Signing Officer

Name
Christopher English
Title
Head of School
Phone
8478666055
Signed
2023-03-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christopher English
Formed
1915
Legal Domicile
Il
Voting Board Members
18
Independent Board Members
18
Employees
84
Volunteers
18

Preparer

Firm
Pkf Mueller Llp
Address
1707 N RANDALL ROAD, ELGIN, IL 60123
Preparer
Eleanor a Livingston CPA Mst
Phone
8478888600
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in beneficial interest in assets held by others -3,933.

Financial Statement Notes

PART V, LINE 4:

Earnings on the endowment fund are made available to the school on an annual basis to be used in operations.

PART X, LINE 2:

The school was determined to be exempt from income tax under section 501(c)(3) of the internal revenue code, and accordingly, no provision has been made for either federal or state income taxes. The school has evaluated the tax positions taken for all open tax years. Currently, the returns for the three prior fiscal years are open and subject to examination by the internal revenue service; however, the school is not currently under audit nor has the school been contacted by this jurisdiction. Based on the evaluation of the school's tax positions, management believes all positions would be upheld under an examination; therefore, no provision for the effects of uncertain tax positions has been recorded for the years ended june 30, 2022 and 2021.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in beneficial interest in assets held by others -3,933. Fundraising event expenses 35,758. Tuition remission 279,630.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Scholarships awarded 1,182,708.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Tuition remission 279,630. Fundraising event expenses 35,758.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Scholarships awarded 1,182,708.

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IRS990/Desc0EARLY CHILDHOOD:OUR EARLY CHILDHOOD PROGRAM IS TAUGHT BY EXPERIENCED CERTIFIED EARLY CHILDHOOD EDUCATION TEACHERS AND IS SUPPORTED BY ASSISTANTS WITH EDUCATION BACKGROUNDS. STUDENTS IN OUR EARLY CHILDHOOD PROGRAM (PRESCHOOL AGES 3-5) EXPERIENCE A TREMENDOUS PERIOD OF INTENSE GROWTH. TEACHERS FORM RELATIONSHIPS WITH EACH INDIVIDUAL CHILD TO PROVIDE AN APPROACH SPECIFIC TO EACH CHILD'S LEARNING STYLE AND NEEDS. EACH CHILD IS CHALLENGED TO STRETCH THEIR UNDERSTANDING IN A DEVELOPMENTALLY APPROPRIATE WAY. PRE-READING AND EARLY MATH SKILLS ARE INTEGRATED DURING BOTH STRUCTURED AND UNSTRUCTURED CLASSROOM ACTIVITIES. GUIDED GROUPS OF FOUR TO SIX CHILDREN WORK ON LANGUAGE ARTS, MATH, JOURNALS, FINE MOTOR/ART AND ARE HETEROGENEOUS SO THE CHILDREN ARE ABLE TO WORK WITH OTHERS AT MIXED LEVELS. CHILDREN ROTATE THROUGH THE GROUPS THROUGHOUT THE WEEK. GUIDED READING GROUPS ARE FORMED AND ASSESSED THROUGHOUT THE YEAR SO THE CHILDREN CAN WORK WITH OTHER CHILDREN AT SIMILAR READING LEVELS. OUR FOCUS ON DIFFERENTIATED INSTRUCTION HELPS TO ENSURE CHILDREN ARE CHALLENGED APPROPRIATELY AND NOT BORED. WHILE CHILDREN THINK THEY ARE SIMPLY PLAYING, SIMULTANEOUSLY OUR INTENTIONAL INSTRUCTION AND PERSONAL APPROACH IS TEACHING THEM ESSENTIAL FOUNDATIONAL SKILLS THROUGH OUR THEME-BASED CURRICULUM. OUR YOUNGEST STUDENTS LEARN TO THINK CRITICALLY, DEVELOP SOCIAL-EMOTIONAL AWARENESS, AND BECOME PART OF THEIR CLASSROOM COMMUNITY. OUR INTERESTING WEEKLY THEMES CONSIDER THE STUDENT'S INTERESTS AND BUILD UPON THOSE FOR RESPONSIVE LEARNING. OUR CENTERS ARE MULTIDISCIPLINARY AND INCORPORATE AND OVERLAP MATH, SCIENCE, LITERACY, SOCIAL STUDIES, FINE AND GROSS MOTOR SKILLS, DRAMA, ART, AND SENSORY EXPERIENCES. OUR CLASSROOMS ARE DIVERSE LEARNING CENTERS REPRESENTING THE STUDENTS AND THE OUTSIDE COMMUNITY THROUGH THE MATERIALS AND ACTIVITIES. STUDENTS WORK COLLABORATIVELY TO COMPLETE PROJECTS AS PART OF A TEAM, BRINGING THE PROJECTS TO LIFE AND ALLOWING THE CHILDREN TO MAKE SENSE OF ALL THEY ARE LEARNING.LOWER SCHOOL:IN LOWER SCHOOL, GRADES 1 THROUGH 4, THE CORE CURRICULUM IS TAUGHT BY THE CLASSROOM TEACHER. STUDENTS ALSO RECEIVE INSTRUCTION IN WORLD LANGUAGES, ART, MUSIC, PHYSICAL EDUCATION AND LIBRARY SKILLS FROM SPECIALIZED FACULTY. DIFFERENTIATION IS AN IMPORTANT PART OF THE LOWER SCHOOL CURRICULUM. TEACHERS KNOW WHERE EACH LEARNER IS ON A CONTINUUM OF KNOWLEDGE AND SUPPORT THEIR UNIQUE GROWTH THROUGHOUT THE YEAR. IN ADDITION TO SMALL CLASS SIZES, THE SUPPORT OF BOTH A STAFF LEARNING SPECIALIST AND A GIFTED COORDINATOR HELPS TO MEET EACH LEARNER WHERE THEY ARE. OUR 1:1 CHROMEBOOK PROGRAM, BEGINNING IN THE LOWER SCHOOL, SUPPORTS BOTH ACADEMIC AND SOCIAL LEARNING. EACH STUDENT IS GIVEN A CAREFULLY MONITORED CHROMEBOOK, WHICH ALLOWS TEACHERS TO FURTHER DIFFERENTIATE CURRICULUM AND FOSTER COLLABORATION. GIFTED STUDENTS OR STUDENTS WITH LEARNING DIFFERENCES CAN OBTAIN EXTRA HELP THROUGH FEE-BASED LEARNING SUPPORT SERVICES AND FROM OUR GIFTED COORDINATOR, BOTH OF WHICH ALSO PROVIDE ON-SITE COLLABORATION WITH OUR TEACHERS.MIDDLE SCHOOL:GRADES 5 THROUGH 8. FOCUSED ON CRITICAL THINKING AND CREATIVITY, OUR CORE MIDDLE SCHOOL CURRICULUM EMPHASIZES HOW TO STUDY, EXPLORE, RESEARCH AND WRITE WELL. COLLEGE PREP ACADEMICS ARE BALANCED WITH OPPORTUNITIES FOR SOCIAL GROWTH. OUR P3 (PERSONAL PASSION PROJECT) PERIOD PROVIDES AN OPPORTUNITY FOR STUDENTS TO ENGAGE IN PROJECTS DESIGNED BY THEM! TIME IS BUILT INTO THE SCHEDULE FOR STUDENTS TO WORK WITH A TEACHER/ COACH AND AN EXPERT MENTOR ON A TOPIC THAT THEY ARE PASSIONATE ABOUT. AN INDIVIDUALIZED AND DIFFERENTIATED PROGRAM ENSURES THAT STUDENTS ARE ENGAGED WITH THEIR LEARNING, WHETHER THEY NEED ADDITIONAL SUPPORT, ENRICHMENT OR EVEN ACCELERATION. STUDENTS WHO EXCEL AT MATH, SCIENCE AND SOME OTHER SUBJECTS, FOR EXAMPLE, HAVE THE OPPORTUNITY TO PARTICIPATE IN ADVANCED CLASSES WITH OTHER GRADES, WITH SOME STUDENTS TAKING COURSES IN THE UPPER SCHOOL. OUR 1:1 CHROMEBOOK PROGRAM SUPPORTS BOTH ACADEMIC AND SOCIAL LEARNING. EACH STUDENT IS G
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