Civic Intelligence

Bright School Inc.

990 • Fiscal year 2021 • EIN 62-0476284

Jun 01, 2020 to May 31, 2021 • Filed on Dec 21, 2021

Organization ProfileWWW.BRIGHTSCHOOL.COM

View Organization Page

1950 Mcdade LaneChattanooga, TN 37405

(423) 267-8546

Siviq Scores

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

Liabilities / Assets

31st percentile

0.05x

Higher debt load relative to assets than 31% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

37th percentile

0.13x

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

77th percentile

33%

Higher net margin than 77% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

55th percentile

$183,952

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 2.2% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

70th percentile

20%

Faster asset growth than 70% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

55th percentile

15%

Faster revenue growth than 55% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets31st percentile

Assets

Up

$19,691,332

Up $3,236,916 (+20%) from 2020

Net Assets

Up

$18,623,430

Up $4,208,936 (+29%) from 2020

Liabilities

Down

$1,067,902

Down $972,020 (-48%) from 2020

Revenue And Expenses
Liabilities / Revenue37th percentileNet Margin77th percentile

Revenue

Up

$8,317,558

Up $1,111,484 (+15%) from 2020

Expenses

Down

$5,563,810

Down $152,438 (-2.7%) from 2020

Net Income

Up

$2,753,748

Up $1,263,922 (+85%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$30M$20M$10M$0Assets 2012: $7,888,288Liabilities 2012: $781,256Net Assets 2012: $7,107,0322012Assets 2013: $9,674,532Liabilities 2013: $947,897Net Assets 2013: $8,726,6352013Assets 2014: $10,115,954Liabilities 2014: $963,228Net Assets 2014: $9,152,7262014Assets 2015: $10,704,525Liabilities 2015: $1,096,623Net Assets 2015: $9,607,9022015Assets 2016: $10,425,473Liabilities 2016: $1,001,730Net Assets 2016: $9,423,7432016Assets 2017: $11,084,358Liabilities 2017: $1,083,962Net Assets 2017: $10,000,3962017Assets 2018: $12,249,762Liabilities 2018: $1,181,555Net Assets 2018: $11,068,2072018Assets 2019: $14,125,521Liabilities 2019: $1,149,219Net Assets 2019: $12,976,3022019Assets 2020: $16,454,416Liabilities 2020: $2,039,922Net Assets 2020: $14,414,4942020Assets 2021: $19,691,332Liabilities 2021: $1,067,902Net Assets 2021: $18,623,4302021Assets 2022: $20,360,552Liabilities 2022: $1,251,715Net Assets 2022: $19,108,8372022Assets 2023: $19,962,731Liabilities 2023: $1,132,036Net Assets 2023: $18,830,6952023Assets 2024: $23,022,968Liabilities 2024: $1,591,926Net Assets 2024: $21,431,0422024Assets 2025: $24,541,659Liabilities 2025: $1,783,479Net Assets 2025: $22,758,1802025

Highlighted filing

2021

Assets$19,691,332
Liabilities$1,067,902
Net Assets$18,623,430
Open 2021 Filing

Operations Trend

Revenue Growth55th percentile

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

$10M$5.0M$0Revenue 2012: $4,799,237Expenses 2012: $4,766,012Net Income 2012: $33,2252012Revenue 2013: $6,438,154Expenses 2013: $4,818,551Net Income 2013: $1,619,6032013Revenue 2014: $4,607,908Expenses 2014: $4,578,181Net Income 2014: $29,7272014Revenue 2015: $5,078,477Expenses 2015: $4,743,660Net Income 2015: $334,8172015Revenue 2016: $4,840,865Expenses 2016: $4,834,450Net Income 2016: $6,4152016Revenue 2017: $5,160,838Expenses 2017: $5,088,324Net Income 2017: $72,5142017Revenue 2018: $5,975,606Expenses 2018: $5,188,977Net Income 2018: $786,6292018Revenue 2019: $7,480,772Expenses 2019: $5,477,805Net Income 2019: $2,002,9672019Revenue 2020: $7,206,074Expenses 2020: $5,716,248Net Income 2020: $1,489,8262020Revenue 2021: $8,317,558Expenses 2021: $5,563,810Net Income 2021: $2,753,7482021Revenue 2022: $7,512,519Expenses 2022: $6,100,190Net Income 2022: $1,412,3292022Revenue 2023: $7,702,633Expenses 2023: $6,741,239Net Income 2023: $961,3942023Revenue 2024: $9,376,628Expenses 2024: $7,084,189Net Income 2024: $2,292,4392024Revenue 2025: $8,428,730Expenses 2025: $7,749,762Net Income 2025: $678,9682025

Highlighted filing

2021

Revenue$8,317,558
Expenses$5,563,810
Net Income$2,753,748
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2020 to May 31, 2021
Signed
Dec 21, 2021
Return Version
2020v4.1
Gross Receipts
$8,338,752
Mission and Program Overview

Mission

Bright school, the oldest independent elementary coeducational school in tennessee, is committed to the intellectual, artistic, physical, and moral growth of young boys and girls.

Building a foundation upon which students become wise & compassionate citizens of the world. The school fosters the intellectual, artistic, physical, and moral growth of young boys & girls.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$5,651,917$7,179,668▲ $1,527,751
Land, Buildings, and Equipment, Net$5,755,007$5,861,351▲ $106,344
Savings and Temporary Cash Investments$3,375,201$4,506,204▲ $1,131,003
Cash and Non-Interest-Bearing Accounts$20$1,333,621▲ $1,333,601
Pledges and Grants Receivable$1,553,999$755,331▼ $798,668
Accounts Receivable$33,068$55,157▲ $22,089
Total Assets$16,454,416$19,691,332▲ $3,236,916
Other Assets Total$85,204$0▼ $85,204
Liabilities
Unsecured Notes Loans Payable$615,818--
Accounts Payable and Accrued Expenses$567,301$608,813▲ $41,512
Deferred Revenue$771,599$459,089▼ $312,510
Other Liabilities$85,204$0▼ $85,204
Total Liabilities$2,039,922$1,067,902▼ $972,020
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,857,830$13,535,520▲ $2,677,690
Net Assets With Donor Restrictions$3,556,664$5,087,910▲ $1,531,246
Total Net Assets Fund Balance$14,414,494$18,623,430▲ $4,208,936
Total Liabilities and Net Assets / Fund Balance$16,454,416$19,691,332▲ $3,236,916

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,937,861$3,770,926$8,708,787
Equipment$611,950$694,326$1,306,276
Other Land Buildings$198,528$84,602$283,130
Land$113,012-$113,012
Other Securities$138,205--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$4,921,329$968,923▲ $1,527,589$166,700$7,251,141
2019$4,927,203-▲ $149,451$155,325$4,921,329
2018$5,074,924-▲ $40,279$188,000$4,927,203
2017$4,485,514$300,000▲ $460,437$171,027$5,074,924
2016$4,033,848-▲ $500,648$48,982$4,485,514
Compensation and Service Providers
Top Officer Pay55th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Oj MorganHeadmasterFT$173,540$10,412$183,952

Board Members and Trustees

NameTitle
Austin CenterChairman
Barry LargeTrustee
Betsey KatesTrustee
Betsy RanalliTrustee
Blair CannonTrustee
Cherie PashleyTrustee
Frank HughesTrustee
Henry AldridgeTrustee
John R BodeTrustee
John SorrowTrustee
Lauren TempletonTrustee
Lindsay Richardson HillTrustee
Maria Kain MatthewsTrustee
Mary Howard Ade GloverTrustee
Philip ByrumTrustee
Ray RyanTrustee
Ryan DillardTrustee
Scotty JonesTrustee
Todd PhillipsTrustee
William HowardTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$2,745,685
Program Service Revenue
$5,140,028
Investment Income
$385,822
Other Revenue
$46,023
All Other Contributions
$2,083,368
Change in Net Assets
$2,753,748

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,338,752
Revenue Not Reported on Financial Statements
$-21,194
Revenue Not Reported on Form 990
$1,085,794
Other Revenue Adjustments
$-21,194
Total Revenue per Audited Statements
$9,424,546
Total Revenue per Form 990
$8,317,558
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,354,796
Other Expenses$1,839,620
Grants and Similar Amounts Paid$369,394
Total Fundraising Expense$247,698
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,223,344$277,883$143,553$2,644,780
Grants to Domestic Individuals$369,394--$369,394
Depreciation Depletion$294,271--$294,271
Payroll Taxes$177,842$34,812$11,422$224,076
Other Employee Benefits$181,088$19,684$7,084$207,856
Current Officers, Directors, Trustees, and Key Employees-$170,677-$170,677
Occupancy$153,442--$153,442
All Other Expenses$11,374$138,887-$150,261
Pension Plan Contributions$76,411$21,829$9,167$107,407
Other Expenses$92,150--$92,150
Insurance-$73,781-$73,781
Advertising--$72,374$72,374
Office Expenses-$23,197$4,098$27,295
Travel$25,494--$25,494
Fees for Services Accounting-$25,492-$25,492
Fees for Services Other-$8,608-$8,608
Fees for Services Legal-$4,079-$4,079
Interest$98--$98
Total Functional Expenses$4,517,183$798,929$247,698$5,563,810

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$5,563,810
Total Expenses per Audited Statements$5,215,610
Expenses per Audited Statements$5,194,416
Expenses Not Reported on Financial Statements$369,394
Other Expense Adjustments$369,394
Expenses Not Reported on Form 990$21,194
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$67,217
Fundraising Direct Expenses$21,194
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Auction$50,407$50,407-$50,407
Sunday Funday Top Golf$63,310$16,810$4,792$12,018
Total Events$113,717$67,217$21,194$46,023
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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, Section B, Line 11B

“Form 990 is prepared by an independent certified public accounting firm and submitted to the school's head administration for the audit committee review.”

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

“Board members and key employees review conflict of interest policy provisions annually that are stated in the employee handbook.”

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

“Compensation is subject to review and approval by the board.”

Form 990, Part VI, Section C, Line 19

“Documents open to public inspection are available at the office upon request.”

Filing and Contact Details

Filer

Filer Name
Bright School Inc
EIN
62-0476284
Phone
4232678546
Address
1950 MCDADE LANE, CHATTANOOGA, TN 37405

Signing Officer

Name
Oj Morgan
Title
Head of School
Phone
4232678546
Signed
2021-12-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Oj Morgan
Formed
1938
Legal Domicile
Tn
Voting Board Members
20
Independent Board Members
20
Employees
105
Volunteers
100

Preparer

Firm
Johnson Murphey & Wright Pc
Address
301 NORTH MARKET STREET, CHATTANOOGA, TN 37405
Preparer
Paul Johnson Iii CPA
Phone
4237561170
Supplemental Narrative

Additional Explanations

Part XII, Line 2C

“The school has an audit committee as in prior years. The process of selecting an independent auditor and overseeing the audit has not changed from the prior year.”

Financial Statement Notes

PART V, LINE 4:

“Various purposes including, but not limited to, capital improvements, faculty improvements, and scholarships.”

PART X, LINE 2:

“The entity accounts for the effect of any uncertain tax positions based on a more likely than not threshold to the recognition of the tax positions being sustained based on the technical merits of the position under examination by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefits are estimated based on the cumulative probability assessment that aggregates the estimated tax liability for all uncertain tax positions. Tax positions for the entity include, but are not limited to, the tax-exempt status and determination of whether income is subject to unrelated business income tax. Based on its evaluation, the entity has concluded that there are no significant uncertain tax positions requiring recognition in its financial statements. The entity's evaluation was performed for the tax years ended may 31, 2018 through may 31, 2021, for federal income tax, the years that remain subject to examination by major jurisdictions as of may 31, 2021.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Tuition scholarships and remissions -369,394.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Direct fundraising expense -21,194.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Direct fundraising expense 21,194.”

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Tuition scholarships & remissions 369,394.”

Raw XML AppendixShowing 400 of 673 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/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0BRIGHT SCHOOL, THE OLDEST INDEPENDENT ELEMENTARY COEDUCATIONAL SCHOOL IN TENNESSEE, IS COMMITTED TO THE INTELLECTUAL, ARTISTIC, PHYSICAL, AND MORAL GROWTH OF YOUNG BOYS AND GIRLS.
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IRS990/OperateHospitalInd00
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IRS990/ScheduleBRequiredInd01

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$19,691,332
Liabilities
$1,067,902
Net assets
$18,623,430
Revenue
$8,317,558
Expenses
$5,563,810
Net income
$2,753,748
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.5$1.78$22.8$8.43$7.75$0.68
2024Detailed filing. Detailed filing data is available for this year.$23.0$1.59$21.4$9.38$7.08$2.29
2023Detailed filing. Detailed filing data is available for this year.$20.0$1.13$18.8$7.70$6.74$0.96
2022Detailed filing. Detailed filing data is available for this year.$20.4$1.25$19.1$7.51$6.10$1.41
2021Detailed filing. Detailed filing data is available for this year.$19.7$1.07$18.6$8.32$5.56$2.75
2020Detailed filing. Detailed filing data is available for this year.$16.5$2.04$14.4$7.21$5.72$1.49
2019Summary only. Only limited summary data is available for this year.$14.1$1.15$13.0$7.48$5.48$2.00
2018Summary only. Only limited summary data is available for this year.$12.2$1.18$11.1$5.98$5.19$0.79
2017Summary only. Only limited summary data is available for this year.$11.1$1.08$10.0$5.16$5.09$0.07
2016Summary only. Only limited summary data is available for this year.$10.4$1.00$9.42$4.84$4.83$0.01
2015Summary only. Only limited summary data is available for this year.$10.7$1.10$9.61$5.08$4.74$0.33
2014Summary only. Only limited summary data is available for this year.$10.1$0.96$9.15$4.61$4.58$0.03
2013Summary only. Only limited summary data is available for this year.$9.67$0.95$8.73$6.44$4.82$1.62
2012Summary only. Only limited summary data is available for this year.$7.89$0.78$7.11$4.80$4.77$0.03