Civic Intelligence

Gaston Day School Inc

EIN 56-6076613 • 501(c)3 • Gastonia, NC

Profile

Gaston day school (gds) is an independent school whose mission is to educate our students and prepare them for success and responsible and productive lives. Gds offers an experience that rewards students for a lifetime and gives them an education that goes far beyond our curriculum.

2001 Gaston Day School RoadGastonia, NC 28056

www.gastonday.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

37th percentile

0.11x

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

501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

52nd percentile

0.30x

Higher debt load relative to revenue than 52% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

19th percentile

-8.2%

Higher net margin than 19% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

35th percentile

$197,355

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

43rd percentile

3.5%

Faster asset growth than 43% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

20th percentile

-7.6%

Faster revenue growth than 20% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Assets

Up

$37,949,392

Up $10,887,483 (+40%) from 2023

Liabilities

Up

$4,220,148

Up $1,350,376 (+47%) from 2023

Net Assets

Up

$33,729,244

Up $9,537,107 (+39%) from 2023

Revenue

Up

$20,420,497

Up $10,786,622 (+112%) from 2023

Expenses

Up

$11,043,488

Up $620,903 (+6.0%) from 2023

Net Income

Up

$9,377,009

Up $10,165,719 (+1289%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0Assets 2011: $20,670,723Liabilities 2011: $1,873,073Net Assets 2011: $18,797,6502011Assets 2012: $19,954,500Liabilities 2012: $1,673,209Net Assets 2012: $18,281,2912012Assets 2013: $19,531,919Liabilities 2013: $1,739,527Net Assets 2013: $17,792,3922013Assets 2014: $19,408,599Liabilities 2014: $1,621,733Net Assets 2014: $17,786,8662014Assets 2015: $21,643,793Liabilities 2015: $1,969,073Net Assets 2015: $19,674,7202015Assets 2016: $20,461,092Liabilities 2016: $1,810,599Net Assets 2016: $18,650,4932016Assets 2017: $20,324,169Liabilities 2017: $1,963,755Net Assets 2017: $18,360,4142017Assets 2018: $25,440,541Liabilities 2018: $2,128,507Net Assets 2018: $23,312,0342018Assets 2019: $25,264,987Liabilities 2019: $2,033,510Net Assets 2019: $23,231,4772019Assets 2020: $26,255,997Liabilities 2020: $2,371,182Net Assets 2020: $23,884,8152020Assets 2021: $27,801,670Liabilities 2021: $2,329,285Net Assets 2021: $25,472,3852021Assets 2022: $26,136,128Liabilities 2022: $1,817,752Net Assets 2022: $24,318,3762022Assets 2023: $27,061,909Liabilities 2023: $2,869,772Net Assets 2023: $24,192,1372023Assets 2024: $37,949,392Liabilities 2024: $4,220,148Net Assets 2024: $33,729,2442024

Highlighted filing

2024

Assets$37,949,392
Liabilities$4,220,148
Net Assets$33,729,244

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0-$10MRevenue 2011: $8,408,877Expenses 2011: $7,710,142Net Income 2011: $698,7352011Revenue 2012: $7,306,353Expenses 2012: $7,757,802Net Income 2012: -$451,4492012Revenue 2013: $7,404,538Expenses 2013: $8,030,752Net Income 2013: -$626,2142013Revenue 2014: $8,117,543Expenses 2014: $8,310,229Net Income 2014: -$192,6862014Revenue 2015: $10,461,363Expenses 2015: $8,675,674Net Income 2015: $1,785,6892015Revenue 2016: $8,155,042Expenses 2016: $8,774,117Net Income 2016: -$619,0752016Revenue 2017: $7,932,448Expenses 2017: $8,916,995Net Income 2017: -$984,5472017Revenue 2018: $13,596,701Expenses 2018: $9,030,989Net Income 2018: $4,565,7122018Revenue 2019: $9,261,987Expenses 2019: $9,507,358Net Income 2019: -$245,3712019Revenue 2020: $10,205,435Expenses 2020: $9,596,412Net Income 2020: $609,0232020Revenue 2021: $10,760,636Expenses 2021: $10,020,829Net Income 2021: $739,8072021Revenue 2022: $10,422,542Expenses 2022: $10,296,772Net Income 2022: $125,7702022Revenue 2023: $9,633,875Expenses 2023: $10,422,585Net Income 2023: -$788,7102023Revenue 2024: $20,420,497Expenses 2024: $11,043,488Net Income 2024: $9,377,0092024

Highlighted filing

2024

Revenue$20,420,497
Expenses$11,043,488
Net Income$9,377,009

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$37.9$4.22$33.7$20.4$11.0$9.38
2023Detailed filing. Detailed filing data is available for this year.$27.1$2.87$24.2$9.63$10.4$0.79
2022Detailed filing. Detailed filing data is available for this year.$26.1$1.82$24.3$10.4$10.3$0.13
2021Detailed filing. Detailed filing data is available for this year.$27.8$2.33$25.5$10.8$10.0$0.74
2020Detailed filing. Detailed filing data is available for this year.$26.3$2.37$23.9$10.2$9.60$0.61
2019Detailed filing. Detailed filing data is available for this year.$25.3$2.03$23.2$9.26$9.51$0.25
2018Detailed filing. Detailed filing data is available for this year.$25.4$2.13$23.3$13.6$9.03$4.57
2017Summary only. Only limited summary data is available for this year.$20.3$1.96$18.4$7.93$8.92$0.98
2016Summary only. Only limited summary data is available for this year.$20.5$1.81$18.7$8.16$8.77$0.62
2015Summary only. Only limited summary data is available for this year.$21.6$1.97$19.7$10.5$8.68$1.79
2014Summary only. Only limited summary data is available for this year.$19.4$1.62$17.8$8.12$8.31$0.19
2013Summary only. Only limited summary data is available for this year.$19.5$1.74$17.8$7.40$8.03$0.63
2012Summary only. Only limited summary data is available for this year.$20.0$1.67$18.3$7.31$7.76$0.45
2011Summary only. Only limited summary data is available for this year.$20.7$1.87$18.8$8.41$7.71$0.70
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 22, 2024
Return Version
2023v6.0
Gross Receipts
$20,420,497
Mission and Program Overview

Mission

Gaston day (gds) is an independent school whose mission is to educate our students and prepare them for success and responsible, productive lives. Gds offers an experience that rewards students for a lifetime and gives them an education that goes far beyond our curriculum.

Gaston day school (gds) is an independent school whose mission is to educate our students and prepare them for success and responsible and productive lives. Gds offers an experience that rewards students for a lifetime and gives them an education that goes far beyond our curriculum.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,707,343$11,554,732▼ $152,611
Cash and Non-Interest-Bearing Accounts$4,167,415$7,004,989▲ $2,837,574
Pledges and Grants Receivable$308,611$6,402,115▲ $6,093,504
Investments Other Securities$5,975,630$6,365,682▲ $390,052
Accounts Receivable$534,155$1,924,785▲ $1,390,630
Prepaid Expenses and Deferred Charges$53,397$85,126▲ $31,729
Total Assets$27,061,909$37,949,392▲ $10,887,483
Other Assets Total$4,315,358$4,611,963▲ $296,605
Liabilities
Deferred Revenue$2,051,904$3,432,486▲ $1,380,582
Other Liabilities$637,942$657,384▲ $19,442
Accounts Payable and Accrued Expenses$179,926$130,278▼ $49,648
Total Liabilities$2,869,772$4,220,148▲ $1,350,376
Net Assets / Fund Balance
Net Assets With Donor Restrictions$9,059,720$18,807,589▲ $9,747,869
Net Assets Without Donor Restrictions$15,132,417$14,921,655▼ $210,762
Total Net Assets Fund Balance$24,192,137$33,729,244▲ $9,537,107
Total Liabilities and Net Assets / Fund Balance$27,061,909$37,949,392▲ $10,887,483

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,980,298$11,586,669$21,566,967
Equipment$692,968$4,030,729$4,723,697
Other Land Buildings$412,643$1,329,568$1,742,211
Land$468,823-$468,823
Other Assets Org$68,000--
Other Securities$6,365,682--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$8,666,950-▲ $1,048,969-$9,290,246
2022$8,552,228-▲ $513,242$9,500$8,666,950
2021$10,057,626$9,983▼ $1,102,883-$8,552,228
2020$8,224,877$253,500▲ $1,882,980-$10,057,626
2019$7,906,796$533,807▲ $142,868-$8,224,877
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Davidson Robert HobsonHead of SchoFT$142,000$10,718$152,718
Davidson Robert HobsonHead of School-$142,000$10,718$152,718
Dr Richard RankinPast Head PFFT$110,000$14,524$124,524

Board Members and Trustees

NameTitle
Morkor NewmanChair
Leeann HarrisVice Chair
Ben HintonDirector
Betsy HurstDirector
Jeff ColyerDirector
Jeff SimpsonDirector
Jeff VanacoreDirector
Lauren LebiodaDirector
Liz SiskEx-offocio
Pamela WarlickSecretary
Ernest SumnerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$9,971,380
Program Service Revenue
$9,312,449
Investment Income
$820,076
Other Revenue
$316,592
All Other Contributions
$9,971,380
Change in Net Assets
$9,377,009

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1$1,025,082Fair Value
Total Noncash Contributions1$1,025,082-

Audited Revenue Reconciliation

Revenue per Audited Statements
$18,885,173
Revenue Not Reported on Financial Statements
$1,535,324
Revenue Not Reported on Form 990
$160,098
Other Revenue Adjustments
$1,490,168
Total Revenue per Audited Statements
$19,045,271
Total Revenue per Form 990
$20,420,497
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$5,463,902
Other Expenses$4,089,418
Grants and Similar Amounts Paid$1,490,168
Total Fundraising Expense$131,220
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,077,805$1,018,301$68,250$4,164,356
Grants to Domestic Individuals$1,490,168--$1,490,168
Depreciation Depletion$612,566$147,016$57,173$816,755
Other Employee Benefits$637,768$168,697-$806,465
All Other Expenses$563,652$58,123$5,346$627,121
Current Officers, Directors, Trustees, and Key Employees$234,321$258,760-$493,081
Advertising$340,472-$451$340,923
Other Expenses$259,414$240,616-$240,616
Occupancy-$225,549-$225,549
Fees for Services Other-$205,042-$205,042
Information Technology$79,692$51,859-$131,551
Office Expenses-$126,537-$126,537
Insurance-$111,799-$111,799
Fees for Services Accounting-$97,032-$97,032
Conferences and Meetings-$72,777-$72,777
Fees for Services Management-$48,424-$48,424
Fees for Service Investment Mgmnt Fees-$45,156-$45,156
Total Functional Expenses$8,036,580$2,875,688$131,220$11,043,488

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$11,043,488
Expenses per Audited Statements$9,508,164
Total Expenses per Audited Statements$9,508,164
Expenses Not Reported on Financial Statements$1,535,324
Other Expense Adjustments$1,490,168
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Salaries and Benefits$657,384
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, Page 6, Part VI, Line 11B

The form 990 is reviewed by the finance committee and director of finance and operations prior to providing a copy to to the full board for their review. Once the board approves the return, the 990 is filed.

Form 990, Page 6, Part VI, Line 12C

All board members are required to submit a signed conflict of interest statement/disclosure annually. A standardized form is issued to the board members to complete showing no conflict of interest.

Form 990, Page 6, Part VI, Line 15A

The executive committee of the board prepares the evaluation tool with comparison of heads of schools from peer groups and ncais for the total board of trustees to approve.

Form 990, Page 6, Part VI, Line 15B

The head of the school approves the compensation for the director of finance based on market comparables and this is contemporaneously documented.

Form 990, Page 6, Part VI, Line 19

The governing documents, conflict of interest, and financial statements are made available to the public "upon request" at the school's office.

Filing and Contact Details

Filer

Filer Name
Gaston Day School Inc
EIN
56-6076613
Phone
7048647744
Address
2001 GASTON DAY SCHOOL ROAD, GASTONIA, NC 28056

Signing Officer

Name
Vann Noblett
Title
Director of Finance
Phone
7048647744
Signed
2024-11-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Davidson Robert Hobson
Formed
1966
Legal Domicile
Nc
Voting Board Members
13
Independent Board Members
13
Employees
182
Volunteers
160

Preparer

Firm
Mccannon Rogers Driscoll & Assoc Llp
Address
PO BOX 339, GASTONIA, NC 28053-0339
Preparer
Benjamin P Albright Iii
Phone
7048670264
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Gaston day school (gds) is an independent school whose mission is to educate our students and prepare them for success and responsible and productive lives. Gds offers an experience that rewards students for a lifetime and gives them an education that goes far beyond our curriculum.

Form 990, Part XI, Line 9

Discounted pledges receivable -500,020 scholarships and assistance -1,490,168 scholarships and assistance 1,490,168 total -500,020

Financial Statement Notes

Schedule D, Page 3, Part X

Management has evaluated the effect of guidance surrounding uncertain tax positions and concluded that the school has no significant financial statement exposure to uncertain tax positions at june 30, 2024.

Schedule D, Page 4, Part XI, Line 2D

Discounted pledges receivable -500,020

Schedule D, Page 4, Part XI, Line 4B

Scholarships and assistance 1,490,168

Schedule D, Page 4, Part XII, Line 4B

Scholarships and assistance 1,490,168

Raw XML AppendixShowing 400 of 555 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/Desc0GASTON DAY SCHOOL, INC. (GDS) IS A NONSECTARIAN, COLLEGE-PREPARATORY SCHOOL FOR GRADES PRESCHOOL THROUGH 12 WITH OVER 500 STUDENTS. ACADEMIC EXCELLENCE IS THE SCHOOL'S HALLMARK: THE ELEMENTARY AND MIDDLE SCHOOL SCORE IN THE TOP HALF OF THE NATION'S INDEPENDENT SCHOOLS ON STANDARDIZED TESTS; SAT SCORES ON CRITICAL READING AND MATH ARE CONSTANTLY GASTON COUNTY'S HIGHEST; AND OUR AP TEST PASS RATE IS OVER 80%. WITH GENERAL ACADEMIC EXCELLENCE IN ALL UPPER SCHOOL SUBJECTS, THE WRITING AND FINE ARTS PROGRAMS REGULARLY WIN REGIONAL AND NATIONAL AWARDS. ATHLETICS AND THE FINE ARTS REMAIN INTEGRAL TO THE COMPREHENSIVE EDUCATION THAT THE SCHOOL PROVIDES. GDS HAS A RICH HISTORY AND LOOKS FORWARD TO A BRIGHT FUTURE OF CONTINUED GROWTH AND ACADEMIC EXCELLENCE.
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IRS990/MissionDesc0GASTON DAY SCHOOL (GDS) IS AN INDEPENDENT SCHOOL WHOSE MISSION IS TO EDUCATE OUR STUDENTS AND PREPARE THEM FOR SUCCESS AND RESPONSIBLE AND PRODUCTIVE LIVES. GDS OFFERS AN EXPERIENCE THAT REWARDS STUDENTS FOR A LIFETIME AND GIVES THEM AN EDUCATION THAT GOES FAR BEYOND OUR CURRICULUM.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT HAS EVALUATED THE EFFECT OF GUIDANCE SURROUNDING UNCERTAIN TAX POSITIONS AND CONCLUDED THAT THE SCHOOL HAS NO SIGNIFICANT FINANCIAL STATEMENT EXPOSURE TO UNCERTAIN TAX POSITIONS AT JUNE 30, 2024.

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