Civic Intelligence

Cranbrook Educational Community

990 • Fiscal year 2023 • EIN 38-2015048

Jul 01, 2022 to Jun 30, 2023 • Filed on Apr 15, 2024

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

36th percentile

0.18x

Higher debt load relative to assets than 36% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Liabilities / Revenue

72nd percentile

0.97x

Higher debt load relative to revenue than 72% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Net Margin

26th percentile

-4.4%

Higher net margin than 26% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Top Officer Pay

28th percentile

$491,616

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Asset Growth

33rd percentile

1.3%

Faster asset growth than 33% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Revenue Growth

56th percentile

5.9%

Faster revenue growth than 56% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Assets

Up

$493,908,791

Up $6,469,571 (+1.3%) from 2022

Net Assets

Up

$405,905,752

Up $8,869,658 (+2.2%) from 2022

Liabilities

Down

$88,003,039

Down $2,400,087 (-2.7%) from 2022

Revenue

Up

$90,648,923

Up $5,035,383 (+5.9%) from 2022

Expenses

Up

$94,663,943

Up $2,582,524 (+2.8%) from 2022

Net Income

Up

-$4,015,020

Up $2,452,859 (+38%) from 2022

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

2023

Assets$493,908,791
Liabilities$88,003,039
Net Assets$405,905,752

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

2023

Revenue$90,648,923
Expenses$94,663,943
Net Income-$4,015,020
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Apr 15, 2024
Return Version
2022v5.0
Gross Receipts
$104,587,474
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$164,454,280$158,791,580▼ $5,662,700
Investments Other Securities$138,839,792$146,238,313▲ $7,398,521
Investments in Publicly Traded Securities$134,301,369$134,668,090▲ $366,721
Savings and Temporary Cash Investments$21,904,200$26,797,160▲ $4,892,960
Pledges and Grants Receivable$24,456,219$19,086,074▼ $5,370,145
Other Notes and Loans Receivable, Net-$3,751,471-
Prepaid Expenses and Deferred Charges$1,301,592$1,311,571▲ $9,979
Accounts Receivable$1,307,661$1,056,879▼ $250,782
Inventories for Sale or Use$579,069$906,702▲ $327,633
Cash and Non-Interest-Bearing Accounts$13,721$11,921▼ $1,800
Total Assets$487,439,220$493,908,791▲ $6,469,571
Other Assets Total$281,317$1,289,030▲ $1,007,713
Liabilities
Tax Exempt Bond Liabilities$58,922,434$58,372,434▼ $550,000
Deferred Revenue$17,135,190$18,153,079▲ $1,017,889
Accounts Payable and Accrued Expenses$14,217,060$10,553,933▼ $3,663,127
Other Liabilities$128,442$923,593▲ $795,151
Total Liabilities$90,403,126$88,003,039▼ $2,400,087
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$224,125,176$222,730,740▼ $1,394,436
Net Assets With Donor Restrictions$172,910,918$183,175,012▲ $10,264,094
Total Net Assets Fund Balance$397,036,094$405,905,752▲ $8,869,658
Total Liabilities and Net Assets / Fund Balance$487,439,220$493,908,791▲ $6,469,571

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$108,596,269$108,380,058$216,976,327
Buildings$29,885,575$51,124,874$81,010,449
Equipment$1,779,644$21,755,907$23,535,551
Land$15,869,942-$15,869,942
Other Land Buildings$2,660,150$3,223,038$5,883,188
Other Securities$111,253--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$262,400,365$8,982,698▲ $17,808,833$14,685,290$274,563,598
2022$303,347,908$4,241,048▼ $30,221,828$14,641,549$262,400,365
2021$228,314,750$6,638,982▲ $81,010,123$12,522,169$303,347,908
2020$230,922,558$2,823,400▲ $8,618,189$13,963,953$228,314,750
2019$226,283,510$2,596,331▲ $16,976,125$14,933,408$230,922,558
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Aimeclaire RochePresidentFT$453,405$38,211$491,616
Jeffrey R SuzikDirector of SchoolsFT$365,359$26,864$392,223
Roderick SpearinCOO and TreasurerFT$311,155$53,185$364,340
Eileen SavageChief Advancement OfficerFT$247,072$36,944$284,016
Michael StaffordDirector of Science MuseumFT$225,755$41,694$267,449
Andrew Miller IiiDirector of Schools AdmissFT$174,428$70,176$244,604
Harold BrownDirector of AdvancementFT$186,435$29,765$216,200
Andrew K BlauveltDirector of Art MuseumFT$183,658$31,797$215,455
Noel J DoughertyHead of Upper SchoolsFT$162,463$35,014$197,477
Calvin Vincent JrDirector of OperationsFT$161,817$34,958$196,775
Elizabeth BeadleDirector of Human ResourceFT$174,143$15,170$189,313
Paul C SacaridizDirector of Art AcademyFT$151,149$24,101$175,250
Patricia CariSecretary - Part YearFT$96,372$5,909$102,281
Joan PenrodSecretaryFT$51,768$5,786$57,554

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Chartwells Compass Group USAFood ServicePO BOX 91337, Chicago, IL 10087$5,793,830
Ogletree Deakins Nash Smoak & StewartLegal ServicesPO BOX 78, Columbia, SC 29202$820,737
Reibitz BuildingBuilding Contractor6945 DANDISON BLVD, West Bloomfield, MI 48324$541,607
Trace3Techonolgy CompanyPO BOX 847467, Los Angeles, CA 90084$299,732
Frank Rewold & Sons INCBuilding Contractor303 E THIRD STREET STE 330, Rochester, MI 48307$249,668
Revenue and Support

Revenue Composition

Contributions and Grants
$18,243,587
Program Service Revenue
$60,801,820
Investment Income
$10,394,287
Other Revenue
$1,209,229
All Other Contributions
$15,680,707
Change in Net Assets
$-4,015,020

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 Traded29$7,290,263Avg Market Valuation
Securities Miscellaneous1$70,501Fair Market Value (FMV)
Other Non Cash Contri Table16$42,101Cost
Other Non Cash Contri Table32$33,054Cost
Clothing and Household Goods-$24,182Cost
Food Inventory3$950-
Books and Publications-$201-
Total Noncash Contributions81$7,461,252-

Audited Revenue Reconciliation

Revenue per Audited Statements
$89,622,664
Revenue Not Reported on Financial Statements
$1,026,259
Revenue Not Reported on Form 990
$11,949,455
Total Revenue per Audited Statements
$101,572,119
Total Revenue per Form 990
$90,648,923
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$52,244,936
Other Expenses$39,688,262
Total Fundraising Expense$6,459,496
Grants and Similar Amounts Paid$2,451,090
Professional Fundraising Fees$279,655

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$26,951,055$8,937,626$2,981,443$38,870,124
Depreciation Depletion$8,268,904$373,978-$8,642,882
Occupancy$3,916,164$1,880,464$59,276$5,855,904
Other Employee Benefits$4,029,636$1,033,047$393,373$5,456,056
Payroll Taxes$2,046,774$688,768$256,057$2,991,599
Fees for Services Other$1,273,270$1,464,796$107,752$2,845,818
Interest$732$2,560,370$567$2,561,669
Current Officers, Directors, Trustees, and Key Employees$792,212$717,003$993,926$2,503,141
Office Expenses$2,005,733$203,904$285,348$2,494,985
Grants to Domestic Individuals$2,451,090--$2,451,090
Pension Plan Contributions$1,650,517$558,222$215,277$2,424,016
Conferences and Meetings$1,540,098$132,657$349,878$2,022,633
Insurance$1,428,326$99,236$20,526$1,548,088
Information Technology$206,452$698,791$140,780$1,046,023
Fees for Service Investment Mgmnt Fees-$1,026,260-$1,026,260
Travel$733,310$44,305$83,870$861,485
Fees for Services Legal-$720,224-$720,224
Advertising$217,374$55,502$383,071$655,947
Fees for Services Management$518,568$5,438$9,125$533,131
Fees for Services Accounting-$438,670-$438,670
Fees for Services Professional Fundraising--$279,655$279,655
Other Expenses$140,449$30,934$24,552$195,935
All Other Expenses$97,004$26,929$-460,908$-336,975
Total Functional Expenses$65,699,424$22,505,023$6,459,496$94,663,943

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$94,663,943
Total Expenses per Audited Statements$92,702,461
Expenses per Audited Statements$90,643,929
Expenses Not Reported on Financial Statements$4,020,014
Other Expense Adjustments$2,993,755
Expenses Not Reported on Form 990$2,058,532
International Activity

International Summary

Offices
0
Employees
0
Spending
$151,898,873

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$151,898,873
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$904,548
Fundraising Gross Income$642,176
Professional Fundraising Fees$279,655
Gaming Gross Income$53,600
Gaming Direct Expenses$37,212

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Women Rock Science$336,630$47,750$12,127$35,623
Studio - Caa$620,263$40,959$121,679$-80,720
Total Events$2,140,381$642,176$904,548$-262,372
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$923,593

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$4,710,000$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 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 A, Line 2

Sandra smith and robert wilson, both trustees of the organization, have a family relationship with one another, robert s. Taubman and denise anton david have a working relationship outside of cranbrook educational community.

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
2024-04-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Aimeclaire Roche
Formed
1973
Legal Domicile
Mi
Voting Board Members
31
Independent Board Members
31
Employees
1,205
Volunteers
789

Preparer

Firm
Plante & Moran Pllc
Address
2601 CAMBRIDGE CT STE 300, AUBURN HILLS, MI 48326
Preparer
Tina Peters
Phone
2483757100
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Market valuation adjustment of interest rate swap 2,993,755.

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 center for collections and research 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 661,053. Direct expenses - fundraising 904,547. Direct expenses - gaming 3,712. Cost of sales 489,220.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Rental expenses 661,053. Direct expenses - fundraising 904,547. Direct expenses - gaming 3,712. Cost of sales 489,220.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Market valuation adjustment of interest rate swap 2,993,755.

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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt4FRANK REWOLD & SONS INC
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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 2022 ENROLLMENT WAS 1,673 STUDENTS, 811 STUDENTS WERE GRADES 9TH THRU 12TH, OF THOSE, 262 WERE BOARDING STUDENTS. LOWER SCHOOL PRE-K THRU 5TH GRADE, 512 STUDENTS, MIDDLE SCHOOL GRADES 6TH THRU 8TH WERE 350 STUDENTS.
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt220

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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
2023Detailed filing. Detailed filing data is available for this year.$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
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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. 2023 filings • 501(c)3 • $250M-$1B nonprofits