Civic Intelligence

Cranbrook Educational Community

990 • Fiscal year 2018 • EIN 38-2015048

Jul 01, 2017 to Jun 30, 2018 • Filed on May 10, 2019

PO Box 801Bloomfield Hills, MI 48303-0801

(248) 645-3000

Siviq Scores

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

Liabilities / Assets

37th percentile

0.22x

Higher debt load relative to assets than 37% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Liabilities / Revenue

82nd percentile

1.31x

Higher debt load relative to revenue than 82% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Net Margin

6th percentile

-18%

Higher net margin than 6% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

21st percentile

-2.0%

Faster asset growth than 21% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Revenue Growth

5th percentile

-30%

Faster revenue growth than 5% of similar nonprofits.

2018 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2017 to 2018

Assets

Down

$426,989,515

Down $8,839,701 (-2.0%) from 2017

Net Assets

Up

$332,123,119

Up $14,109,853 (+4.4%) from 2017

Liabilities

Down

$94,866,396

Down $22,949,554 (-19%) from 2017

Revenue

Down

$72,453,419

Down $31,415,485 (-30%) from 2017

Expenses

Up

$85,149,804

Up $4,098,926 (+5.1%) from 2017

Net Income

Down

-$12,696,385

Down $35,514,411 (-156%) from 2017

Historical Trend

Balance Sheet Trend

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

$600M$400M$200M$0Assets 2010: $424,095,485Liabilities 2010: $124,081,905Net Assets 2010: $300,013,5802010Assets 2011: $443,698,413Liabilities 2011: $117,278,824Net Assets 2011: $326,419,5892011Assets 2012: $427,254,830Liabilities 2012: $127,455,702Net Assets 2012: $299,799,1282012Assets 2013: $436,878,147Liabilities 2013: $118,659,278Net Assets 2013: $318,218,8692013Assets 2014: $452,458,550Liabilities 2014: $116,535,508Net Assets 2014: $335,923,0422014Assets 2015: $449,265,180Liabilities 2015: $117,554,629Net Assets 2015: $331,710,5512015Assets 2016: $425,275,370Liabilities 2016: $124,737,129Net Assets 2016: $300,538,2412016Assets 2017: $435,829,216Liabilities 2017: $117,815,950Net Assets 2017: $318,013,2662017Assets 2018: $426,989,515Liabilities 2018: $94,866,396Net Assets 2018: $332,123,1192018Assets 2019: $438,204,743Liabilities 2019: $100,139,256Net Assets 2019: $338,065,4872019Assets 2020: $429,134,973Liabilities 2020: $100,304,402Net Assets 2020: $328,830,5712020Assets 2021: $537,474,350Liabilities 2021: $97,678,762Net Assets 2021: $439,795,5882021Assets 2022: $487,439,220Liabilities 2022: $90,403,126Net Assets 2022: $397,036,0942022Assets 2023: $493,908,791Liabilities 2023: $88,003,039Net Assets 2023: $405,905,7522023Assets 2024: $495,822,252Liabilities 2024: $85,264,352Net Assets 2024: $410,557,9002024

Highlighted filing

2018

Assets$426,989,515
Liabilities$94,866,396
Net Assets$332,123,119

Operations Trend

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

$150M$100M$50M$0-$50MExpenses 2010: $77,639,6802010Expenses 2011: $72,558,6082011Expenses 2012: $81,193,3602012Revenue 2013: $68,818,520Expenses 2013: $71,184,189Net Income 2013: -$2,365,6692013Revenue 2014: $68,055,024Expenses 2014: $73,998,187Net Income 2014: -$5,943,1632014Revenue 2015: $77,851,568Expenses 2015: $78,220,680Net Income 2015: -$369,1122015Revenue 2016: $89,647,388Expenses 2016: $80,088,829Net Income 2016: $9,558,5592016Revenue 2017: $103,868,904Expenses 2017: $81,050,878Net Income 2017: $22,818,0262017Revenue 2018: $72,453,419Expenses 2018: $85,149,804Net Income 2018: -$12,696,3852018Revenue 2019: $88,585,165Expenses 2019: $85,349,724Net Income 2019: $3,235,4412019Revenue 2020: $86,571,216Expenses 2020: $83,073,977Net Income 2020: $3,497,2392020Revenue 2021: $144,616,781Expenses 2021: $82,535,482Net Income 2021: $62,081,2992021Revenue 2022: $85,613,540Expenses 2022: $92,081,419Net Income 2022: -$6,467,8792022Revenue 2023: $90,648,923Expenses 2023: $94,663,943Net Income 2023: -$4,015,0202023Revenue 2024: $87,119,920Expenses 2024: $102,913,701Net Income 2024: -$15,793,7812024

Highlighted filing

2018

Revenue$72,453,419
Expenses$85,149,804
Net Income-$12,696,385
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 10, 2019
Return Version
2017v2.3
Gross Receipts
$129,834,204
Mission and Program Overview

Mission

Cranbrook develops people who will live with purpose and integrity, create with passion, explore with curiosity, and strive for excellence. Cranbook provides an extraordinary education, encourages creativity and innovation, and values learners of all ages and backgrounds.

The cranbrook educational community provides extraordinary education, encourages creativity and innovation, and values learners of all ages and backgrounds. Cranbrook develops people who will live with purpose and integrity, create with passion, explore with curiosity, and strive for excellence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$175,324,079$170,494,210▼ $4,829,869
Investments in Publicly Traded Securities$150,332,792$124,107,952▼ $26,224,840
Investments Other Securities$89,364,281$113,232,974▲ $23,868,693
Pledges and Grants Receivable$6,515,129$8,628,494▲ $2,113,365
Savings and Temporary Cash Investments$9,890,021$7,027,157▼ $2,862,864
Accounts Receivable$1,809,020$1,568,773▼ $240,247
Prepaid Expenses and Deferred Charges$1,433,182$1,235,017▼ $198,165
Inventories for Sale or Use$518,159$442,353▼ $75,806
Cash and Non-Interest-Bearing Accounts$16,315$15,810▼ $505
Total Assets$435,829,216$426,989,515▼ $8,839,701
Other Assets Total$626,238$236,775▼ $389,463
Liabilities
Tax Exempt Bond Liabilities$78,651,287$60,358,088▼ $18,293,199
Deferred Revenue$18,955,306$18,171,435▼ $783,871
Accounts Payable and Accrued Expenses$20,147,252$16,315,368▼ $3,831,884
Other Liabilities$62,105$21,505▼ $40,600
Total Liabilities$117,815,950$94,866,396▼ $22,949,554
Net Assets / Fund Balance
Unrestricted Net Assets$217,736,783$221,059,890▲ $3,323,107
Permanently Rstr Net Assets$63,281,623$66,300,539▲ $3,018,916
Temporarily Rstr Net Assets$36,994,860$44,762,690▲ $7,767,830
Total Net Assets Fund Balance$318,013,266$332,123,119▲ $14,109,853
Total Liabilities and Net Assets / Fund Balance$435,829,216$426,989,515▼ $8,839,701

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$120,317,766$78,839,198$199,156,964
Buildings$37,179,698$42,829,516$80,009,214
Equipment$2,830,494$15,892,716$18,723,210
Land$7,869,942-$7,869,942
Other Land Buildings$2,296,310$4,536,784$6,833,094
Other Securities$827,522--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$221,875,189$3,412,904▲ $22,441,579$21,446,162$226,283,510
2017$209,059,894$6,381,321▲ $20,137,038$13,692,117$221,875,189
2016$233,596,144$1,278,864▼ $7,389,858$18,420,873$209,059,894
2015$233,990,022$2,158,319▲ $11,326,559$13,850,294$233,596,144
2014$220,823,020$1,170,803▲ $32,489,749$20,511,934$233,990,022
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dominic DimarcoPresidentFT$408,423$140,689$549,112
Arlyce SeibertDirector of SchoolsFT$358,171$97,252$455,423
Roderick SpearinCOO and TreasurerFT$253,337$28,192$281,529
Michael StaffordDirector of Science MuseumFT$205,386$51,584$256,970
Pamela RuthvenChief Financial OfficerFT$211,542$33,126$244,668
Thomas Joseph DecraeneAsst Director of SchoolsFT$147,815$88,677$236,492
Eileen SavageChief Advancement OfficerFT$192,358$29,121$221,479
Christopher J ScoatesDirector of Art AcademyFT$205,519$10,092$215,611
Andrew Miller IiiDirector of School AdmissionsFT$130,586$83,323$213,909
Charles T ShawDirector of StewarshipFT$149,524$36,492$186,016
Norma J EvansDirector of Sust & Business ServicesFT$145,379$29,725$175,104
Andrew K BlauveltDirector of Art MuseumFT$154,683$18,492$173,175
Patricia CariSecretaryFT$119,097$8,287$127,384

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Chartwells Compass Group USAFood ServicePO BOX 91337, Chicago, IL 60693$4,781,058
Teacher's Ins And Annuity Group AdminiPension ServicesPO BOX 8500, Philadelphia, PA 19178$4,711,041
Goldman Sachs & CoInvestment ServicesPO BOX 9081 CHURCH STREET STATIO, New York, NY 10087$1,613,541
Securitas Security ServicesSecurity Service3290 W BIG BEAVER RD, Troy, MI 48084$863,853
Employee Health Insurance ManagementHealth Management26711 NORTHWESTERN HIGHWAY, Southfield, MI 48033$838,921
Revenue and Support

Revenue Composition

Contributions and Grants
$15,391,884
Program Service Revenue
$55,324,411
Investment Income
$1,413,016
Other Revenue
$324,108
All Other Contributions
$13,410,939
Change in Net Assets
$-12,696,385

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 Traded83$1,188,867Avg Market Valuation
Other Non Cash Contri Table113$91,600Cost
Clothing and Household Goods-$68,293Cost
Other Non Cash Contri Table32$44,545Cost
Food Inventory4$1,110Cost
Collectibles6$585Cost
Books and Publications-$288Cost
Total Noncash Contributions238$1,395,288-

Audited Revenue Reconciliation

Revenue per Audited Statements
$71,542,559
Revenue Not Reported on Financial Statements
$910,860
Revenue Not Reported on Form 990
$25,537,557
Total Revenue per Audited Statements
$97,080,116
Total Revenue per Form 990
$72,453,419
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$47,011,941
Other Expenses$36,126,355
Total Fundraising Expense$4,896,992
Grants and Similar Amounts Paid$1,920,818
Professional Fundraising Fees$90,690

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$23,956,589$6,638,690$2,216,729$32,812,008
Depreciation Depletion$6,578,660$2,644,324-$9,222,984
Other Employee Benefits$5,422,230$1,091,291$308,382$6,821,903
Occupancy$2,633,133$3,320,149$54,277$6,007,559
Office Expenses$2,960,339$836,853$377,626$4,174,818
Current Officers, Directors, Trustees, and Key Employees$1,353,886$991,700$624,518$2,970,104
Interest$2,287$2,917,477-$2,919,764
Payroll Taxes$1,818,749$546,765$192,294$2,557,808
Fees for Services Other$1,585,518$342,708$490,415$2,418,641
Grants to Domestic Individuals$1,920,818--$1,920,818
Pension Plan Contributions$1,292,186$416,307$141,625$1,850,118
Travel$1,056,589$35,345$88,776$1,180,710
Insurance$7,277$1,018,897$591$1,026,765
Fees for Service Investment Mgmnt Fees-$939,426-$939,426
Conferences and Meetings$382,410$26,741$29,388$438,539
Information Technology$102,229$332,483$3,546$438,258
Advertising$192,864$16,029$188,438$397,331
Fees for Services Accounting-$388,050-$388,050
All Other Expenses$234,267$-120$123,895$358,042
Fees for Services Professional Fundraising--$90,690$90,690
Other Expenses$72,192$11,724$5,255$89,171
Fees for Services Legal$38,078$23,000-$61,078
Total Functional Expenses$67,087,443$13,165,369$4,896,992$85,149,804

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$85,149,804
Expenses per Audited Statements$84,238,944
Total Expenses per Audited Statements$82,970,263
Expenses Not Reported on Financial Statements$910,860
Expenses Not Reported on Form 990$-1,268,681
International Activity

International Summary

Offices
0
Employees
0
Spending
$99,250,759

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
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestment-00$99,250,759
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$912,954
Fundraising Gross Income$728,462
Professional Fundraising Fees$90,690
Gaming Gross Income$36,700
Gaming Direct Expenses$25,973

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Kaleidoscope$681,626$366,545$186,531$180,014
Booster Club$175,355$98,837$200,550$-101,713
Total Events$1,866,956$728,462$912,954$-184,492
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Leases Payable$21,505

Bond Issues

BondIssuerIssuedIssue PricePurpose
BEconomic Development Corp of Oakland County2014-09-25$36,390,000SEE PART VI
AEconomic Development Corp of Oakland County2010-10-01$26,515,000SEE PART VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$36,390,000---
A$26,515,000$1,316,000$2,250,000$199,000

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
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 A, Line 2

Adele acheson and michael acheson, both trustees of the organization, have a family relationship with one another. Robert taubman and denise david, both trustees of the organization, have a business relationship with one another.

Form 990, Part VI, Section A, Line 6

Cranbrook educational community includes three divisions of the organization: cranbrook schools, cranbrook art academy and cranbrook institute of science, which each have a board of governors. These board of governors are the members of the organization.

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

Up to six trustees of cranbrook educational community shall be elected by the cranbrook schools members, up to four trustees shall be elected by the cranbrook art members and up to four trustees shall be elected by the cranbrook science members, none of which trustees need to be members of the organization or its three divisions. The chairman of the board of governors of cranbrook schools, the chairman of the board of governors of the cranbrook art academy, and the chairman of the board of governors of the cranbrook institute of science, as elected by the respective boards of governors from time to time pursuant to the organization's bylaws, shall all be ex officio members of the board of trustees with full voting and other rights, for so long as each of them remains chairman, and shall thereafter be replaced as trustees by their successors in such chairmanship positions.

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

The initial review of the 990 is done by the chief financial officer, the chief operations officer and the president and the independent auditors. The 990 is reviewed by the chair of the board of trustees and a member of the audit committee. Prior to filing, the 990 is made available to all members of the board of trustees for their review.

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

A formal written conflict of interest policy is sent out annually to officers, directors/trustees and key employees for their completion, and must be signed and returned to cranbrook educational community.

Form 990, Part VI, Section B, Line 15

The chair of the board of trustees, in conjunction with other trustees, determines salaries using information prepared by the human resource department for comparable salaries with peer institutions.

Form 990, Part VI, Section C, Line 19

The following documents are available upon request: audited consolidated financial statements and cranbrook leadership handbook.

Filing and Contact Details

Filer

Filer Name
Cranbrook Educational Community
EIN
38-2015048
Phone
2486453000
Address
PO BOX 801, BLOOMFIELD HILLS, MI 48303-0801

Signing Officer

Name
Roderick Spearin
Title
COO
Phone
2486453000
Signed
2019-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dominic Dimarco
Formed
1973
Legal Domicile
Mi
Voting Board Members
32
Independent Board Members
32
Employees
1,244
Volunteers
1,179

Preparer

Firm
Plante & Moran Pllc
Address
2601 CAMBRIDGE CT STE 500, AUBURN HILLS, MI 48326
Preparer
Lynne Huismann
Phone
2483757100
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Market valuation adjustment of interest rate swap 3,838,151.

Financial Statement Notes

PART III, LINE 1A:

In accordance with generally accepted practices of similar institutions, archival items and collections purchased and donated are not recorded in the statement of financial position.

PART III, LINE 4:

As the community's official archival repository, the archives department collects, preserves, and makes available community and divisional records of permanent value, the papers of members of the booth, scripps, and saarinen families, the records of the christ church cranbrook and other ancillary organizations, and the personal papers of faculty, staff, alumni and other individuals who have been associated with the community since 1984.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Rental expenses 1,059,354. Direct expenses - fundraising 912,954. Direct expenses - gaming 25,973. Cost of sales 485,196.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Rental expenses 1,059,354. Direct expenses - fundraising 912,954. Direct expenses - gaming 25,973. Cost of sales 485,196. Market valuation adjustment of interest rate swap -3,838,151.

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IRS990/Desc0CRANBROOK SCHOOLS ARE INDEPENDENT DAY AND BOARDING SCHOOLS THAT PROVIDE STUDENTS WITH A CHALLENGING AND COMPREHENSIVE COLLEGE PREPARATORY EDUCATION. WE MOTIVATE STUDENTS FROM DIVERSE BACKGROUNDS TO STRIVE FOR INTELLECTUAL, CREATIVE, AND PHYSICAL EXCELLENCE, TO DEVELOP A DEEP APPRECIATION FOR THE ARTS AND DIFFERENT CULTURES, AND TO EMPLOY THE TECHNICAL TOOLS OF OUR MODERN AGE. OUR SCHOOLS SEEK TO INSTILL IN STUDENTS A STRONG SENSE OF PERSONAL AND SOCIAL RESPONSIBILITY, THE ABILITY TO THINK CRITICALLY, AND THE COMPETENCE TO COMMUNICATE AND CONTRIBUTE IN AN INCREASINGLY GLOBAL COMMUNITY. FALL 2017 ENROLLMENT WAS 1,659 STUDENTS IN PRE-K THRU 12TH GRADE. OF THE 1,659 STUDENTS, 262 STUDENTS WERE BOARDING IN THE GRADES 9TH THRU 12TH.
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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.$496$85.3$411$87.1$103$15.8
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$494$88.0$406$90.6$94.7$4.02
2022Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$487$90.4$397$85.6$92.1$6.47
2021Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$537$97.7$440$145$82.5$62.1
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$429$100$329$86.6$83.1$3.50
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$438$100$338$88.6$85.3$3.24
2018Detailed filing. Detailed filing data is available for this year.$427$94.9$332$72.5$85.1$12.7
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$436$118$318$104$81.1$22.8
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$425$125$301$89.6$80.1$9.56
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$449$118$332$77.9$78.2$0.37
2014Detailed filing. Detailed filing data is available for this year.$452$117$336$68.1$74.0$5.94
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$437$119$318$68.8$71.2$2.37
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$427$127$300$81.2
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$444$117$326$72.6
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$424$124$300$77.6
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2018 filings • 501(c)3 • $250M-$1B nonprofits