Civic Intelligence

Rabun Gap-Nacoochee School

EIN 58-0593430 • 501(c)3 • Rabun Gap, GA

Profile

Rabun gap - nacoochee school combines its strong academic program, mountain setting, and presbyterian heritage to inspire young people eager to learn and grow. Living our motto, work, study, worship, our community nurtures and challenges students of diverse backgrounds as they prepare for college and a lifetime of service.

339 Nacoochee DriveRabun Gap, GA 30568

www.rabungap.org

Siviq Scores

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

Liabilities / Assets

48th percentile

0.24x

Higher debt load relative to assets than 48% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Liabilities / Revenue

69th percentile

0.82x

Higher debt load relative to revenue than 69% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Net Margin

19th percentile

-5.8%

Higher net margin than 19% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Top Officer Pay

55th percentile

$527,445

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Asset Growth

31st percentile

1.7%

Faster asset growth than 31% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Revenue Growth

15th percentile

-8.7%

Faster revenue growth than 15% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Assets

Up

$111,474,729

Up $4,430,590 (+4.1%) from 2023

Liabilities

Up

$26,060,005

Up $376,921 (+1.5%) from 2023

Net Assets

Up

$85,414,724

Up $4,053,669 (+5.0%) from 2023

Revenue

Up

$36,235,954

Up $3,810,184 (+12%) from 2023

Expenses

Up

$33,801,089

Up $781,614 (+2.4%) from 2023

Net Income

Up

$2,434,865

Up $3,028,570 (+510%) from 2023

Trend Graphs

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $86,548,931Liabilities 2010: $26,285,277Net Assets 2010: $60,263,6542010Assets 2011: $92,722,378Liabilities 2011: $25,540,402Net Assets 2011: $67,181,9762011Assets 2012: $85,466,766Liabilities 2012: $22,229,630Net Assets 2012: $63,237,1362012Assets 2013: $88,449,264Liabilities 2013: $22,376,498Net Assets 2013: $66,072,7662013Assets 2014: $95,776,984Liabilities 2014: $21,918,722Net Assets 2014: $73,858,2622014Assets 2015: $95,678,352Liabilities 2015: $22,351,633Net Assets 2015: $73,326,7192015Assets 2016: $90,460,922Liabilities 2016: $22,496,523Net Assets 2016: $67,964,3992016Assets 2017: $94,240,517Liabilities 2017: $21,564,037Net Assets 2017: $72,676,4802017Assets 2018: $94,320,807Liabilities 2018: $20,239,611Net Assets 2018: $74,081,1962018Assets 2019: $92,997,683Liabilities 2019: $20,638,513Net Assets 2019: $72,359,1702019Assets 2020: $88,677,607Liabilities 2020: $19,267,738Net Assets 2020: $69,409,8692020Assets 2021: $105,001,665Liabilities 2021: $23,404,014Net Assets 2021: $81,597,6512021Assets 2022: $105,462,489Liabilities 2022: $24,809,132Net Assets 2022: $80,653,3572022Assets 2023: $107,044,139Liabilities 2023: $25,683,084Net Assets 2023: $81,361,0552023Assets 2024: $111,474,729Liabilities 2024: $26,060,005Net Assets 2024: $85,414,7242024

Highlighted filing

2024

Assets$111,474,729
Liabilities$26,060,005
Net Assets$85,414,724

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $15,498,5552010Revenue 2011: $15,012,266Expenses 2011: $15,639,196Net Income 2011: -$626,9302011Expenses 2012: $15,908,2592012Expenses 2013: $16,722,1932013Revenue 2014: $24,140,927Expenses 2014: $19,312,834Net Income 2014: $4,828,0932014Revenue 2015: $25,451,010Expenses 2015: $20,157,134Net Income 2015: $5,293,8762015Revenue 2016: $17,696,490Expenses 2016: $20,942,519Net Income 2016: -$3,246,0292016Revenue 2017: $22,581,304Expenses 2017: $23,062,796Net Income 2017: -$481,4922017Revenue 2018: $25,604,467Expenses 2018: $25,915,205Net Income 2018: -$310,7382018Revenue 2019: $23,755,426Expenses 2019: $26,133,289Net Income 2019: -$2,377,8632019Revenue 2020: $24,641,351Expenses 2020: $26,317,696Net Income 2020: -$1,676,3452020Revenue 2021: $32,375,355Expenses 2021: $30,260,928Net Income 2021: $2,114,4272021Revenue 2022: $40,793,932Expenses 2022: $31,931,881Net Income 2022: $8,862,0512022Revenue 2023: $32,425,770Expenses 2023: $33,019,475Net Income 2023: -$593,7052023Revenue 2024: $36,235,954Expenses 2024: $33,801,089Net Income 2024: $2,434,8652024

Highlighted filing

2024

Revenue$36,235,954
Expenses$33,801,089
Net Income$2,434,865

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$111$26.1$85.4$36.2$33.8$2.43
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$107$25.7$81.4$32.4$33.0$0.59
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$105$24.8$80.7$40.8$31.9$8.86
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$105$23.4$81.6$32.4$30.3$2.11
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$88.7$19.3$69.4$24.6$26.3$1.68
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$93.0$20.6$72.4$23.8$26.1$2.38
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$94.3$20.2$74.1$25.6$25.9$0.31
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$94.2$21.6$72.7$22.6$23.1$0.48
2016Detailed filing. Detailed filing data is available for this year.$90.5$22.5$68.0$17.7$20.9$3.25
2015Detailed filing. Detailed filing data is available for this year.$95.7$22.4$73.3$25.5$20.2$5.29
2014Detailed filing. Detailed filing data is available for this year.$95.8$21.9$73.9$24.1$19.3$4.83
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$88.4$22.4$66.1$16.7
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$85.5$22.2$63.2$15.9
2011Summary only. Only limited summary data is available for this year.$92.7$25.5$67.2$15.0$15.6$0.63
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$86.5$26.3$60.3$15.5
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.2
Gross Receipts
$45,477,850
Mission and Program Overview

Mission

Rabun gap - nacoochee school combines its strong academic program, mountain setting, and presbyterian heritage to inspire young people eager to learn and grow. Living our motto, work, study, worship, our community nurtures and challenges students of diverse backgrounds as they prepare for college and a lifetime of service.

Rabun gap - nacoochee school combines its strong academic program, mountain setting, and presbyterian heritage to inspire young people eager to learn and grow.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$29,239,915$28,891,311▼ $348,604
Investments in Publicly Traded Securities$29,386,722$28,352,530▼ $1,034,192
Accounts Receivable$9,435,320$10,618,967▲ $1,183,647
Savings and Temporary Cash Investments$5,688,512$6,609,220▲ $920,708
Investments Other Securities$4,325,281$4,125,249▼ $200,032
Cash and Non-Interest-Bearing Accounts$652,611$1,932,572▲ $1,279,961
Prepaid Expenses and Deferred Charges$276,956$423,729▲ $146,773
Pledges and Grants Receivable$386,206$242,672▼ $143,534
Inventories for Sale or Use$103,356$94,785▼ $8,571
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$105,001,665$105,462,489▲ $460,824
Other Assets Total$25,506,786$24,171,454▼ $1,335,332
Liabilities
Deferred Revenue$13,229,721$15,270,041▲ $2,040,320
Mortgage Notes Payable Secured by Investment Property$9,260,417$8,570,417▼ $690,000
Accounts Payable and Accrued Expenses$880,193$968,674▲ $88,481
Other Liabilities$33,683$0▼ $33,683
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$23,404,014$24,809,132▲ $1,405,118
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$46,766,233$51,383,704▲ $4,617,471
Net Assets With Donor Restrictions$34,831,418$29,269,653▼ $5,561,765
Total Net Assets Fund Balance$81,597,651$80,653,357▼ $944,294
Total Liabilities and Net Assets / Fund Balance$105,001,665$105,462,489▲ $460,824

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$27,341,772$38,293,971$65,635,743
Equipment$725,704$4,824,203$5,549,907
Other Land Buildings$0$3,026,454$3,026,454
Land$823,835-$823,835
Other Assets Org$435,850--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$31,074,416$7,637,380▼ $2,260,507$1,612,214$34,839,075
2020$35,151,989$1,570,462▲ $3,233,490$8,881,525$31,074,416
2019$39,497,271$162,339▼ $290,715$4,216,906$35,151,989
2018$42,419,984$195,977▲ $2,220,767$5,339,457$39,497,271
2017$42,348,224$346,812▲ $3,358,685$3,633,737$42,419,984
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jeffrey MilesHead of SchoolFT$257,521$99,181$356,702
Paige SpiveyAssociate Head of School (ADV)FT$166,127$28,067$194,194
Anne Forrest PrimChief Operations OfficerFT$122,718$6,886$129,604
Robert CartonCFO (thru April 2022)FT$94,976$22,554$117,530

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Sage Food Services IncFood Services1402 York Road, Lutherville, MD 21093$1,643,720
Greenville Newscitizen-timesAdvertisingPO BOX 677566, Dallas, TX 75267-7566$127,000
Holland Knight LLPLegal ServicesPO BOX 936937, Atlanta, GA 31193-6937$117,632
Revenue and Support

Revenue Composition

Contributions and Grants
$14,131,417
Program Service Revenue
$23,477,665
Investment Income
$2,877,275
Other Revenue
$307,575
All Other Contributions
$11,855,507
Change in Net Assets
$8,862,051

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded5$57,914Stock Quote
Total Noncash Contributions5$57,914-

Audited Revenue Reconciliation

Revenue per Audited Statements
$24,622,984
Revenue Not Reported on Financial Statements
$16,170,948
Revenue Not Reported on Form 990
$-5,094,323
Other Revenue Adjustments
$16,056,249
Total Revenue per Audited Statements
$19,528,661
Total Revenue per Form 990
$40,793,932
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$11,905,877
Grants and Similar Amounts Paid$11,616,729
Other Expenses$8,409,275
Total Fundraising Expense$765,652
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,087,242$1,570,447$496,732$9,154,421
Foreign Grants$6,045,687--$6,045,687
Grants to Domestic Individuals$5,571,042--$5,571,042
Depreciation Depletion$1,753,421$26,853$13,406$1,793,680
Occupancy$1,233,956$18,950$9,462$1,262,368
Other Employee Benefits$816,750$180,982$57,245$1,054,977
Current Officers, Directors, Trustees, and Key Employees$652,506$144,588$45,733$842,827
Payroll Taxes$488,486$108,242$34,237$630,965
Insurance$411,639$24,074$8,110$443,823
All Other Expenses$292,927$70,801$13,861$377,589
Advertising$8,916$332,411$396$341,723
Travel$284,600$26,786$23,437$334,823
Pension Plan Contributions$172,402$38,202$12,083$222,687
Interest$193,789$2,976$1,486$198,251
Information Technology$79,112$79,684$14,072$172,868
Other Expenses$129,799$7,217$7,217$144,233
Fees for Service Investment Mgmnt Fees-$114,699-$114,699
Fees for Services Accounting-$105,882-$105,882
Fees for Services Other$24,661$42,276$3,523$70,460
Fees for Services Legal$23,503$40,290$3,358$67,151
Office Expenses$24,341$24,517$4,330$53,188
Conferences and Meetings$25,804$1,435$1,435$28,674
Total Functional Expenses$28,166,992$2,999,237$765,652$31,931,881

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$31,931,881
Total Expenses per Audited Statements$20,472,955
Expenses per Audited Statements$20,184,580
Expenses Not Reported on Financial Statements$11,747,301
Other Expense Adjustments$11,632,602
Expenses Not Reported on Form 990$288,375
International Activity

International Summary

Offices
0
Employees
0
Spending
$6,159,488

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland and Greenland)GrantmakingFinancial Assistance00$3,255,607
Sub-Saharan AfricaGrantmakingFinancial Assistance00$828,323
North AmericaGrantmakingFinancial Assistance00$803,335
Central America and the CaribbeanGrantmakingFinancial Assistance00$555,660
East Asia and the PacificGrantmakingFinancial Assistance00$422,647
South AmericaGrantmakingFinancial Assistance00$135,915
Russia and the Newly Independent StatesGrantmakingFinancial Assistance00$44,200
Europe (Including Iceland and Greenland)Program ServicesStudent Recruitment00$40,437
East Asia and the PacificProgram ServicesStudent Recruitment00$36,154
Central America and the CaribbeanProgram ServicesStudent Recruitment00$18,861
North AmericaProgram ServicesStudent Recruitment00$10,810
Middle East and North AfricaProgram ServicesStudent Recruitment00$7,539
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Kiana MilesSpouse of Head of School, Jeffrey MilesCompensationNo$28,000

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
Interest Rate Swap$0
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
Yes
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, Line 11B

The form 990 will be reviewed by the finance committee of the board and then made available to the entire board prior to filing the return with the Internal Revenue Service.

Form 990, Part VI, Line 12C

On an annual basis all board of trustee members are required to sign a statement that they are independent with respect to the school. Each of the board members makes this affirmative statement with the understanding that the school must maintain a governing body that is acting on behalf of the well-being of the institution.

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

The Board of Trustees and the executive committee review the activities of the Head of School on an annual basis and the use of the criteria established from the prior year to evaluate the effectiveness of the position and set criteria for the coming year. The results are communicated to the head of school along with suggestions for enhancing the experience of students and all employees.

Form 990, Part VI, Line 19

The school makes available for public inspection its tax filings and other information to the public upon request and at its Business office during regular business hours.

Filing and Contact Details

Filer

Filer Name
Rabun Gap-Nacoochee School
EIN
58-0593430
In Care Of
% SCOTT CARLSON
Phone
7067467467
Address
339 Nacoochee Drive, Rabun Gap, GA 30568

Signing Officer

Name
Jeffrey Miles
Title
Head of School
Phone
7067467722
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey Miles
Formed
1903
Legal Domicile
Ga
Voting Board Members
18
Independent Board Members
17
Employees
286
Volunteers
125

Preparer

Firm
Smith & Howard Advisory LLC
Address
271 17TH STREET NW SUITE 1600, ATLANTA, GA 30363
Preparer
Sabre J Linahan
Phone
4048746244
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4A

Instruction - Rabun Gap - Nacoochee School (RGNS) is a nearly 120-year-old independent boarding and day school providing co-education college-preparatory in grades PK through twelve that has a historic relationship with the Presbyterian Church. RGNS educated approximately 670 students from 53 countries and 12 states for the current fiscal year with an average class size of 13. The Upper School had enrollment of 384 students, the Middle School had an enrollment of 121 students and the Lower School had enrollment of 165 students. International students comprise approximately 24 percent of the student body. The faculty averages 15+ years of teaching experience. Of the 57 classroom teachers and 1 residential faculty, 54 percent hold graduate degrees or higher. Advanced Placement (AP) courses are offered in all academic departments with over 169 students enrolled in an AP course and the majority of the AP candidates received a score of 3 or higher, making them eligible to receive college credit for their work. With approximately 35 clubs and student organizations, students participate in a wide range of activities.

Form 990, Part XI, Line 5

<5,914,647> Unrealized gain on Investments 62,416 + UNREALIZED GAIN ON VALUE OF SPLIT INTEREST -------------------------- <5,852,231> = NET UNREALIZED LOSS

Form 990, Part XI, Line 9

<4,423,647> Split Value Interest 469,533 + Interest Rate Swap -------------------------- <3,954,114> = NET OTHER CHANGES

Financial Statement Notes

Schedule D, Part V, Line 4

Permanently restricted endowment funds are used predominately for financial aid to the students of the school. Board designated endowment funds are for the general operations of the school. Temporarily restricted endowment funds are donor-imposed restrictions of either a time constraint or purpose restriction. The school attempts to meet temporary restrictions as soon as possible. All earnings from the endowed funds are utilized to maintain a superior education and facility for all students attending RGNS.

Schedule D, Part X, Line 2

The School is recognized as a School exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code (the "Code"). Only unrelated business income, as defined by Section 512(a)(1) of the Code is subject to income taxes. The School annually evaluates all federal and state income tax positions. This process includes an analysis of whether these income tax positions the School takes meet the definition of an uncertain tax position. In the normal course of business, the School is subject to examination by the federal and state taxing authorities. In general, the School is no longer subject to tax examinations for tax years ending before June 30, 2019.

Schedule D, Part XI, Line 2D

469,533 Interest Rate Swap 81,877 + EXPENSES ASSOC. WITH RENTAL ACTIVITY 195,483 + EXPENSES ASSOC. WITH BOOKSTORE ACTIVITY 11,015 + LOSS ON SALE OF FIXED ASSETS REPORTED IN GAAP EXPENSES -------------------------- 757,908 =

Schedule D, Part XI, Line 4B

11,616,729 fin. Aid & scholarships netted with f/s income 4,423,647 + split value interest 15,873 + gaap expenses netted with f/s revenue ------------------------- 16,056,249 =

Schedule D, Part XII, Line 2D

81,877 + expenses assoc. With rental activity 195,483 + expenses assoc. With bookstore activity 11,015 + loss on sale of fixed assets reported in gaap expenses -------------------------- 288,375 =

Schedule D, Part XII, line 4B

11,616,729 fin. Aid & scholarships netted with f/s income 15,873 + gaap expenses netted with f/s revenue ------------------------- 11,632,602 =

Raw XML AppendixShowing 400 of 1,224 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/Desc0Instruction - Rabun Gap - Nacoochee School (RGNS) is a nearly 120-year-old independent boarding and day school providing co-education college-preparatory in grades PK through twelve that has a historic relationship with the Presbyterian Church. RGNS educated approximately 670 students from 53 countries and 12 states for the current fiscal year with an average class size of 13. Please see Sch O for the full Activity #1 Description
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