Civic Intelligence

St Luke'S School

990 • Fiscal year 2024 • EIN 45-5288724

Jul 01, 2023 to Jun 30, 2024 • Filed on Apr 12, 2025

487 Hudson StreetNew York, NY 10014

(212) 924-5960

Siviq Scores

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

Liabilities / Assets

70th percentile

0.65x

Higher debt load relative to assets than 70% of similar nonprofits.

2024 filings • NTEE B • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

73rd percentile

2.22x

Higher debt load relative to revenue than 73% of similar nonprofits.

2024 filings • NTEE B • $50M-$100M nonprofits • Source year 2024

Net Margin

34th percentile

-3.6%

Higher net margin than 34% of similar nonprofits.

2024 filings • NTEE B • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

52nd percentile

$293,973

Higher top officer pay than 52% of similar nonprofits.

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

2024 filings • NTEE B • $50M-$100M nonprofits • Source year 2024

Asset Growth

36th percentile

0.2%

Faster asset growth than 36% of similar nonprofits.

2024 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

71st percentile

13%

Faster revenue growth than 71% of similar nonprofits.

2024 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2023 to 2024

Assets

Up

$82,538,693

Up $165,068 (+0.2%) from 2023

Net Assets

Down

$29,056,377

Down $212,083 (-0.7%) from 2023

Liabilities

Up

$53,482,316

Up $377,151 (+0.7%) from 2023

Revenue

Up

$24,044,291

Up $2,846,492 (+13%) from 2023

Expenses

Up

$24,901,946

Up $2,966,892 (+14%) from 2023

Net Income

Down

-$857,655

Down $120,400 (-16%) from 2023

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2013: $9,501,269Liabilities 2013: $1,874,854Net Assets 2013: $7,626,4152013Assets 2014: $10,509,390Liabilities 2014: $2,128,219Net Assets 2014: $8,381,1712014Assets 2015: $15,854,648Liabilities 2015: $4,208,385Net Assets 2015: $11,646,2632015Assets 2016: $21,998,560Liabilities 2016: $6,502,523Net Assets 2016: $15,496,0372016Assets 2017: $38,314,935Liabilities 2017: $19,828,440Net Assets 2017: $18,486,4952017Assets 2018: $41,187,197Liabilities 2018: $18,601,080Net Assets 2018: $22,586,1172018Assets 2019: $44,656,829Liabilities 2019: $19,719,699Net Assets 2019: $24,937,1302019Assets 2020: $47,985,159Liabilities 2020: $22,085,011Net Assets 2020: $25,900,1482020Assets 2021: $50,281,249Liabilities 2021: $21,413,319Net Assets 2021: $28,867,9302021Assets 2022: $52,345,185Liabilities 2022: $22,813,541Net Assets 2022: $29,531,6442022Assets 2023: $82,373,625Liabilities 2023: $53,105,165Net Assets 2023: $29,268,4602023Assets 2024: $82,538,693Liabilities 2024: $53,482,316Net Assets 2024: $29,056,3772024

Highlighted filing

2024

Assets$82,538,693
Liabilities$53,482,316
Net Assets$29,056,377

Operations Trend

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

$30M$20M$10M$0-$10MRevenue 2013: $6,036,546Expenses 2013: $5,511,455Net Income 2013: $525,0912013Revenue 2014: $9,898,594Expenses 2014: $9,290,802Net Income 2014: $607,7922014Revenue 2015: $13,187,795Expenses 2015: $9,953,994Net Income 2015: $3,233,8012015Revenue 2016: $16,250,901Expenses 2016: $12,334,315Net Income 2016: $3,916,5862016Revenue 2017: $16,736,480Expenses 2017: $14,019,519Net Income 2017: $2,716,9612017Revenue 2018: $20,187,771Expenses 2018: $16,258,343Net Income 2018: $3,929,4282018Revenue 2019: $19,410,378Expenses 2019: $17,206,635Net Income 2019: $2,203,7432019Revenue 2020: $19,077,243Expenses 2020: $18,131,435Net Income 2020: $945,8082020Revenue 2021: $21,507,772Expenses 2021: $19,634,810Net Income 2021: $1,872,9622021Revenue 2022: $21,771,060Expenses 2022: $20,094,177Net Income 2022: $1,676,8832022Revenue 2023: $21,197,799Expenses 2023: $21,935,054Net Income 2023: -$737,2552023Revenue 2024: $24,044,291Expenses 2024: $24,901,946Net Income 2024: -$857,6552024

Highlighted filing

2024

Revenue$24,044,291
Expenses$24,901,946
Net Income-$857,655
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Apr 12, 2025
Return Version
2023v6.0
Gross Receipts
$26,780,850
Mission and Program Overview

Mission

A coeducational episcopal day school, preschool through eighth grade, for students of all faiths.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$33,972,877$32,812,494▼ $1,160,383
Investments in Publicly Traded Securities$7,425,380$10,614,119▲ $3,188,739
Savings and Temporary Cash Investments$7,520,934$6,180,435▼ $1,340,499
Prepaid Expenses and Deferred Charges$409,620$374,153▼ $35,467
Cash and Non-Interest-Bearing Accounts$253,453$269,033▲ $15,580
Pledges and Grants Receivable$465,042$221,027▼ $244,015
Accounts Receivable$58,321$205,582▲ $147,261
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$82,373,625$82,538,693▲ $165,068
Other Assets Total$32,267,998$31,861,850▼ $406,148
Liabilities
Other Liabilities$39,989,399$40,209,764▲ $220,365
Mortgage Notes Payable Secured by Investment Property$7,260,000$6,900,000▼ $360,000
Deferred Revenue$3,605,949$3,727,119▲ $121,170
Accounts Payable and Accrued Expenses$2,249,817$2,645,433▲ $395,616
Total Liabilities$53,105,165$53,482,316▲ $377,151
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$26,205,041$25,838,854▼ $366,187
Net Assets With Donor Restrictions$3,063,419$3,217,523▲ $154,104
Total Net Assets Fund Balance$29,268,460$29,056,377▼ $212,083
Total Liabilities and Net Assets / Fund Balance$82,373,625$82,538,693▲ $165,068

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$32,523,012$9,473,875$41,996,887
Equipment$207,109$415,374$622,483
Other Land Buildings$82,373-$82,373
Other Assets Org$31,596,284--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$1,842,601-▲ $287,617$120,426$2,009,792
2022$1,724,422-▲ $186,543$57,283$1,842,601
2021$2,071,055-▼ $274,852$57,694$1,724,422
2020$1,690,483-▲ $424,016$31,747$2,071,055
2019$1,683,752-▲ $44,225$27,405$1,690,483
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
W Barton Baldwin JrHead of School (Through 06/2023)-$262,728$31,245$293,973
Karina Otoya-knappHead of Lower SchoolFT$194,064$28,469$222,533
Susan HarriotChief Admissions & EnrollmentFT$174,383$43,953$218,336
Peggy ChenChief Community OfficerFT$180,965$27,910$208,875
Tracy FedonchikHEAD OF SCHOOL (As of 07/2023)FT$195,737$11,832$207,569
Amalia FranciscoHead of Upper SchoolFT$188,981$1,525$190,506
Laurie Maher-samraDirector of Learning ServicesFT$168,874$14,302$183,176
Nancy TompkinsArt TeacherFT$143,355$28,069$171,424
Ana MorgadoDirector of FinanceFT$152,073$13,462$165,535
Rajit MalhotraCFO & COO (Through 6/2023)-$137,336$12,595$149,931
Sheila SheldonCFO & COO (As of 07/2023)FT$126,301$1,244$127,545
Ayesha LongChief Diversity, Equity and Inclusion Officer (As of 07/2023)FT$84,840$5,615$90,455

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
The Church Of St Luke In The FieldsRent487 HUDSON STREET, New York, NY 10014$1,116,500
Supplyme LLC Dba R&r General SupplyGeneral Supply17-08 ASTORIA BLVD, Long Island City, NY 11102$122,149
Revenue and Support

Revenue Composition

Contributions and Grants
$1,627,877
Program Service Revenue
$21,555,182
Investment Income
$558,605
Other Revenue
$302,627
All Other Contributions
$1,589,827
Change in Net Assets
$-857,655

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 Traded7$195,332Market value
Total Noncash Contributions7$195,332-

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,624,074
Revenue Not Reported on Financial Statements
$3,420,217
Revenue Not Reported on Form 990
$799,314
Other Revenue Adjustments
$3,379,403
Total Revenue per Audited Statements
$21,423,388
Total Revenue per Form 990
$24,044,291
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$12,326,729
Other Expenses$9,195,814
Grants and Similar Amounts Paid$3,379,403
Total Fundraising Expense$612,428
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,461,907$1,825,495$145,734$8,433,136
Grants to Domestic Individuals$3,379,403--$3,379,403
Occupancy$2,871,493$50,755$21,794$2,944,042
Depreciation Depletion$1,840,260$32,528$13,967$1,886,755
Current Officers, Directors, Trustees, and Key Employees$149,109$1,172,502$68,525$1,390,136
Other Employee Benefits$990,066$294,465$1,222$1,285,753
Office Expenses$507,335$499,164$166,557$1,173,056
Fees for Services Other$551,440$478,279$1,721$1,031,440
Payroll Taxes$482,839$210,690$15,133$708,662
Pension Plan Contributions$385,289$115,596$8,157$509,042
Interest$305,998$5,409$2,322$313,729
Conferences and Meetings$208,452$90,959$6,533$305,944
Information Technology$54,036$195,140$11,257$260,433
Insurance$62,525$115,884$661$179,070
Fees for Services Accounting-$51,949-$51,949
Other Expenses$136$50,238$143,840$50,238
Fees for Services Legal-$44,039-$44,039
Fees for Service Investment Mgmnt Fees-$40,814-$40,814
Total Functional Expenses$18,958,369$5,331,149$612,428$24,901,946

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$24,901,946
Expenses per Audited Statements$21,481,729
Total Expenses per Audited Statements$21,481,729
Expenses Not Reported on Financial Statements$3,420,217
Other Expense Adjustments$3,379,403
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$248,023
Fundraising Direct Expenses$106,397
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Spring Gala$249,246$15,625$14,062$1,563
Event 2-$0-$0
Total Events$249,246$15,625$116,282$-100,657
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Right-of-use Liability$40,209,764
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
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, Line 11B Review of form 990 by governing body

A draft form 990 is reviewed by the chief financial officer and the audit / finance committee prior to filing with the irs. It is also made available to the full board of trustees. If a board member has any questions they discuss it with management.

Form 990, Part VI, Line 12C Conflict of interest policy

Disclosures: whenever any trustee, officer, committee member, or employee of the school becomes aware that the school is considering a transaction that potentially creates a conflict of interest, he or she is obligated to notify the board and to disclose all material facts relating to his or her interest in the transaction. The board will determine if an actual conflict of interest exists and take action that the board deems appropriate. The interested person may not be present when the board makes its determination other than to answer questions. If no conflict of interest is found to exist, the minutes of the meetings must record the basis of the board's determination. Withdrawal and abstention: if the board determines that a transaction would create a conflict of interest, the transaction must be approved in advance by only those board members who do not have a conflict with respect to the transaction. Any interested person therefore must recuse him- or herself from consideration of the transaction. He or she furthermore may not be present during any discussion of the transaction other than to answer questions. Interested persons, however, may be counted for the purpose of determining whether a quorum exists at the meeting even though they are temporarily absent while the transaction is considered. Acknowledgement and annual statements: each trustee, officer, member of a committee of the board, and key employee must sign annually a statement affirming that such person: (a) has received a copy of this conflict of interest and disclosure policy, (b) has read and understands this policy, and (c) has agreed to comply with this policy. Each trustee, officer, member of a committee of the board, and key employees additionally must complete and submit to the secretary a disclosure statement naming the entities conducting business with the school in which he, she, or family member is a director, trustee, officer, committee member, or employee or has a material financial interest. The secretary will review the information and periodically distribute reports to all trustees.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

As the head of school (hos) was new in fy2024, when the contract was established (in the fall 2022) the board chair in consultation with the executive committee and the board of trustees performed benchmarking against peer schools and based on the hos prior experience compensation levels were set.

Form 990, Part VI, Line 19 Required documents available to the public

St. Luke's does not make its governing documents, conflict of interest policy, or financial statements available to the public.

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

As the head of school (hos) was new in fy2024, when the contract was established (in the fall 2022) the board chair in consultation with the executive committee and the board of trustees performed benchmarking against peer schools and based on the hos prior experience compensation levels were set.

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

Officer performance is evaluated by the head of school. Salaries are established by the head of school with the consent and oversight of the board. This process was last performed in 2023 to approve fy 2023 salaries. This process was subsequently performed in april 2023. As several officers were new for fy2024 benchmarking was performed against peer schools to determine compensation.

Form 990, Part VI, Section C, Line 19

St. Luke's does not make its governing documents, conflict of interest policy, or financial statements available to the public.

Filing and Contact Details

Filer

Filer Name
ST LUKE'S SCHOOL
EIN
45-5288724
Phone
2129245960
Address
487 HUDSON STREET, NEW YORK, NY 10014

Signing Officer

Name
Tracy Fedonchik
Title
Head Of School
Phone
2129245960
Signed
2025-04-12
Discuss with paid preparer
Yes

Organization Details

Formed
2012
Legal Domicile
Ny
Voting Board Members
22
Independent Board Members
21
Employees
141
Volunteers
66

Preparer

Firm
Forvis Mazars LLP
Address
135 West 50th Street, New York, NY 10020
Preparer
Aaron Shapiro
Phone
2128127000
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Loss on uncollectable contributions - -153742;

FORM 990, PART III, LINE 1 ORGANIZATION'S MISSION

Our mission serves children: we ignite curiosity for the world and for learning. We instill confidence to advocate for themselves and others. We inspire courage to lead in service to our community, world, and future. Our community offers each member a welcome place to unite knowledge with goodness. A place in the classroom: our rich and rigorous curriculum develops confident learners who are both independent and collaborative. We create a safe environment for intellectual discourse through which students learn to trust their minds, find their voices, and pursue their ambitions. A place at the table: we intentionally embrace diversity, inclusion, and equity - every person has a place at the table and every voice is valued. Through our episcopalian traditions, we welcome people of all faiths and beliefs into a community where god and human spirituality are contemplated in the development of the whole self. A place in the world: our ethical underpinning guides our children in nurturing their social consciousness and their ability to face challenges with grace, courage, and resilience. We plant the seeds for a life of fulfillment and gratitude in which each child embodies a willingness to serve a greater purpose. Varied educational approaches and techniques to help stimulate independent thinking - to free the children to question, challenge, explore, pursue truth wherever it leads. We encourage them to express their imagination and creative powers, in science and mathematics as well as in words, music, and art. Interdisciplinary teaching allows content from one subject area to reinforce another and open up fresh insights. Above all, st. Luke's seeks to awaken in children a lifelong love of learning, a sense of joy and wonder at god's universe, and a deep feeling of connection to the natural world. We hope that whatever they go on to do and be, we will have prepared them to be good stewards of the world's resources - responsible, caring members of one global human community.

Financial Statement Notes

Schedule D, Part V, Line 4 Intended uses of endowment funds

The school's endowment consists of five individual donor-restricted endowment funds established for library reference, scholarships, bridge to the future and the general endowment fund.

Schedule D, Part XI, Line 4(B) Other revenues in form 990 not in audited financial statements

Tuition Financial Aid - 3170886 After School Financial Aid - 180442 G7 & G8 Civil Rights Trip Financial Aid - 28075

Schedule D, Part XII, Line 4(B) Other expenses in form 990 not in audited financial statements

Tuition Financial Aid - 3170886 After School Financial Aid - 180442 G7 & G8 Civil Rights Trip Financial Aid - 28075

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