Civic Intelligence

St Mary'S Episcopal School

990 • Fiscal year 2022 • EIN 62-0604637

Jul 01, 2021 to Jun 30, 2022 • Filed on Mar 06, 2023

60 Perkins ExtendedMemphis, TN 38117

(901) 537-1401

Siviq Scores

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

Liabilities / Assets

64th percentile

0.40x

Higher debt load relative to assets than 64% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Liabilities / Revenue

81st percentile

1.47x

Higher debt load relative to revenue than 81% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Net Margin

55th percentile

8.5%

Higher net margin than 55% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Top Officer Pay

46th percentile

$328,941

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Asset Growth

41st percentile

-3.3%

Faster asset growth than 41% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Revenue Growth

47th percentile

3.0%

Faster revenue growth than 47% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Assets

Down

$88,473,090

Down $3,047,879 (-3.3%) from 2021

Net Assets

Down

$52,992,018

Down $1,047,655 (-1.9%) from 2021

Liabilities

Down

$35,481,072

Down $2,000,224 (-5.3%) from 2021

Revenue

Up

$24,143,990

Up $703,653 (+3.0%) from 2021

Expenses

Up

$22,082,894

Up $1,510,545 (+7.3%) from 2021

Net Income

Down

$2,061,096

Down $806,892 (-28%) from 2021

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2010: $59,463,178Liabilities 2010: $31,691,751Net Assets 2010: $27,771,4272010Assets 2011: $59,470,668Liabilities 2011: $30,752,035Net Assets 2011: $28,718,6332011Assets 2012: $58,265,505Liabilities 2012: $32,554,169Net Assets 2012: $25,711,3362012Assets 2013: $58,837,523Liabilities 2013: $32,061,304Net Assets 2013: $26,776,2192013Assets 2014: $60,931,400Liabilities 2014: $31,998,108Net Assets 2014: $28,933,2922014Assets 2015: $60,171,656Liabilities 2015: $31,690,260Net Assets 2015: $28,481,3962015Assets 2016: $57,437,392Liabilities 2016: $32,397,017Net Assets 2016: $25,040,3752016Assets 2017: $65,422,747Liabilities 2017: $32,435,323Net Assets 2017: $32,987,4242017Assets 2018: $74,282,141Liabilities 2018: $32,658,053Net Assets 2018: $41,624,0882018Assets 2019: $81,356,524Liabilities 2019: $37,236,214Net Assets 2019: $44,120,3102019Assets 2020: $88,044,451Liabilities 2020: $43,919,555Net Assets 2020: $44,124,8962020Assets 2021: $91,520,969Liabilities 2021: $37,481,296Net Assets 2021: $54,039,6732021Assets 2022: $88,473,090Liabilities 2022: $35,481,072Net Assets 2022: $52,992,0182022Assets 2023: $82,333,201Liabilities 2023: $25,159,220Net Assets 2023: $57,173,9812023Assets 2024: $73,131,466Liabilities 2024: $9,500,223Net Assets 2024: $63,631,2432024Assets 2025: $77,395,772Liabilities 2025: $10,591,825Net Assets 2025: $66,803,9472025

Highlighted filing

2022

Assets$88,473,090
Liabilities$35,481,072
Net Assets$52,992,018

Operations Trend

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

$30M$20M$10M$0-$10MExpenses 2010: $16,541,1812010Expenses 2011: $16,999,6782011Expenses 2012: $17,517,0382012Expenses 2013: $17,790,1822013Revenue 2014: $17,252,238Expenses 2014: $17,745,847Net Income 2014: -$493,6092014Revenue 2015: $18,002,408Expenses 2015: $18,917,369Net Income 2015: -$914,9612015Revenue 2016: $17,372,658Expenses 2016: $19,257,988Net Income 2016: -$1,885,3302016Revenue 2017: $26,246,100Expenses 2017: $20,741,721Net Income 2017: $5,504,3792017Revenue 2018: $25,187,086Expenses 2018: $19,722,475Net Income 2018: $5,464,6112018Revenue 2019: $22,117,742Expenses 2019: $19,978,085Net Income 2019: $2,139,6572019Revenue 2020: $20,827,756Expenses 2020: $20,407,809Net Income 2020: $419,9472020Revenue 2021: $23,440,337Expenses 2021: $20,572,349Net Income 2021: $2,867,9882021Revenue 2022: $24,143,990Expenses 2022: $22,082,894Net Income 2022: $2,061,0962022Revenue 2023: $26,767,006Expenses 2023: $23,476,262Net Income 2023: $3,290,7442023Revenue 2024: $28,615,569Expenses 2024: $24,237,562Net Income 2024: $4,378,0072024Revenue 2025: $26,481,066Expenses 2025: $24,248,359Net Income 2025: $2,232,7072025

Highlighted filing

2022

Revenue$24,143,990
Expenses$22,082,894
Net Income$2,061,096
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Mar 6, 2023
Return Version
2021v4.0
Gross Receipts
$24,143,990
Mission and Program Overview

Mission

The mission of st. Mary's episcopal school is to provide an unparalleled educational experience that challenges and supports each girl as she discovers her unique purpose and reaches her individual potential.

The mission of st. Mary's episcopal school is to provide a superior educational experience for girls which will encourage and enable each student to reach her individual potential.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$39,797,642$40,421,664▲ $624,022
Investments in Publicly Traded Securities$27,733,205$25,672,883▼ $2,060,322
Accounts Receivable$8,292,301$9,584,906▲ $1,292,605
Savings and Temporary Cash Investments$9,303,500$7,939,225▼ $1,364,275
Pledges and Grants Receivable$3,759,627$1,938,784▼ $1,820,843
Investments Other Securities$1,515,024$1,331,067▼ $183,957
Cash and Non-Interest-Bearing Accounts$882,031$994,374▲ $112,343
Prepaid Expenses and Deferred Charges$218,950$459,537▲ $240,587
Other Notes and Loans Receivable, Net$18,689$12,299▼ $6,390
Total Assets$91,520,969$88,473,090▼ $3,047,879
Other Assets Total-$118,351-
Liabilities
Deferred Revenue$16,596,676$17,432,155▲ $835,479
Tax Exempt Bond Liabilities$12,655,000$12,395,000▼ $260,000
Unsecured Notes Loans Payable$2,420,000$2,420,000→ $0
Accounts Payable and Accrued Expenses$1,683,885$2,252,253▲ $568,368
Mortgage Notes Payable Secured by Investment Property$2,994,000$1,054,000▼ $1,940,000
Other Liabilities$1,131,735$-72,336▼ $1,204,071
Total Liabilities$37,481,296$35,481,072▼ $2,000,224
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$36,754,838$52,992,018▲ $16,237,180
Net Assets With Donor Restrictions$17,284,835--
Total Net Assets Fund Balance$54,039,673$52,992,018▼ $1,047,655
Total Liabilities and Net Assets / Fund Balance$91,520,969$88,473,090▼ $3,047,879

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$28,567,295$22,425,755$50,993,050
Equipment$5,069,845-$5,069,845
Land$4,692,187-$4,692,187
Other Land Buildings$2,092,337-$2,092,337

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$31,071,576$40,513▼ $2,865,273$579,700$28,667,116
2020$25,049,820$378,980▲ $6,447,876$805,100$31,071,576
2019$25,012,586$338,120▲ $392,714$693,600$25,049,820
2018$24,155,742$454,708▲ $898,436$496,300$25,012,586
2017$22,187,101$649,998▲ $1,803,643$485,000$24,155,742
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Albert ThrockmortonHead of SchoFT$310,092$18,849$328,941
Albert ThrockmortonHead of School-$251,400$44,849$328,941
Lynn IsaacsChief FinancFT$143,663$7,495$151,158
Lynn IsaacsChief Financial Offi-$137,163$46,998$151,158
Hilary RobinsonAsst Head ofFT$123,615$12,098$135,713
Lauren RogersHead of UppeFT$114,931$11,524$126,455
Sarah JenksDirector ofFT$113,247$5,916$119,163
Nicole HernandezDirector AdmFT$106,749$11,108$117,857

Highest Paid Contractors

ContractorServicesLocationCompensation
Iss Facility ServicesJanitorialPO BOX 2456, San Antonio, TX 78298$293,725
Linkous Construction Company INCConstruction1661 AARON BRENNER DR 207, Memphis, TN 38120$123,631
Revenue and Support

Revenue Composition

Contributions and Grants
$1,863,249
Program Service Revenue
$20,505,583
Investment Income
$1,775,158
Other Revenue
$0
All Other Contributions
$1,837,038
Change in Net Assets
$2,061,096

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 Amount
Securities Publicly Traded13$164,477
Total Noncash Contributions13$164,477

Audited Revenue Reconciliation

Revenue per Audited Statements
$21,900,239
Revenue Not Reported on Financial Statements
$2,243,751
Revenue Not Reported on Form 990
$-3,108,751
Other Revenue Adjustments
$2,069,329
Total Revenue per Audited Statements
$18,791,488
Total Revenue per Form 990
$24,143,990
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$13,140,688
Other Expenses$6,837,257
Grants and Similar Amounts Paid$2,104,949
Total Fundraising Expense$420,406
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,597,031$1,748,482$300,399$10,645,912
Grants to Domestic Individuals$2,069,329--$2,069,329
Depreciation Depletion$1,611,973$137,013$19,905$1,768,891
Fees for Services Other$1,321,872$92,519$13,484$1,427,875
Occupancy$1,028,439$86,126$12,738$1,127,303
Payroll Taxes$566,315$220,733$15,325$802,373
Other Employee Benefits$492,230$210,105$14,664$716,999
Interest$561,629$47,737$6,935$616,301
Pension Plan Contributions$375,401$136,713$9,535$521,649
Current Officers, Directors, Trustees, and Key Employees$366,249$74,676$12,830$453,755
Office Expenses$300,728$25,174$3,725$329,627
All Other Expenses$288,031$13,564$1,505$303,100
Information Technology$230,608$19,311$2,856$252,775
Fees for Service Investment Mgmnt Fees$159,125$13,326$1,971$174,422
Insurance$147,244$12,515$1,818$161,577
Advertising$129,360$10,833$1,603$141,796
Other Expenses$57,748$4,836$715$63,299
Grants to Domestic Orgs$35,620--$35,620
Fees for Services Accounting$26,110$2,187$323$28,620
Fees for Services Legal$6,029$505$75$6,609
Total Functional Expenses$18,806,133$2,856,355$420,406$22,082,894

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$22,082,894
Expenses per Audited Statements$19,839,143
Total Expenses per Audited Statements$19,839,143
Expenses Not Reported on Financial Statements$2,243,751
Other Expense Adjustments$2,069,329
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Baptist Memorial Health Care FoundaCollierville, TN(c)(3)-$7,000
Memphis Child Advocacy CenterMemphis, TN(c)(3)-$7,000
Community Legal CenterMemphis, TN(c)(3)-$6,795
Eikon MinistriesMemphis, TN(c)(3)-$5,325
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
Bond Issue Costs, Net$-72,336

Bond Issues

BondIssuerIssuedIssue PricePurpose
AShelby Co Tn Hehfb Taxexmpt Ser 2002004-12-07$13,080,000CONSTRUCTION COSTS

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$13,080,000--$52,320

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
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

A copy of the 990 was provided to the finance committee who will designate a board member to review prior to issuance.

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

Through the annual "new trustee orientation" the school reviews all policies with the new trustees. All school policies are included in the board of trustees notebook distributed to all trustees. Faculty must confirm in writing to the head of school any employment held in addition to that of the school.

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

The executive committee determines and approves the compensation and benefits for the head of school based upon written goals and performance. The executive committee utilizes compensation data from nais (national association of independent schools) and other comparative data to make their annual determination.

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

The head of school determines and approves the compensation and benefits for all other employees of the school based upon written goals and performance. The head of school utilizes compensation from nais (national association of independent schools) and other comparative data to make the annual determination.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request. The tax return is also available on the guidestar website.

Filing and Contact Details

Filer

Filer Name
ST MARY'S EPISCOPAL SCHOOL
EIN
62-0604637
Phone
9015371401
Address
60 PERKINS EXTENDED, MEMPHIS, TN 38117

Signing Officer

Name
Albert Throckmorton
Title
Head of School
Phone
9015371401
Signed
2023-03-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Albert Throckmorton
Formed
1958
Legal Domicile
Tn
Voting Board Members
31
Independent Board Members
31
Employees
288
Volunteers
500

Preparer

Firm
Scott & Pohlman Pc
Address
5100 POPLAR AVENUE SUITE 617, MEMPHIS, TN 38137-0601
Preparer
Alisa S Farmer
Phone
9017614692
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Change in fmv of interest rate swaps 1,329,964 bad debts -18,332 unrealized amortization -126,026 unrealized amortization -134,938 scholarships netted with tuition -2,069,329 scholarships netted with tuition 2,069,329 total 1,050,668

Financial Statement Notes

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

Change in fmv of interest rate swaps 1,329,964 bad debts -18,332 unrealized amortization -126,026 unrealized amortization -134,938

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

Scholarships netted with tuition 2,069,329

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

Scholarships netted with tuition 2,069,329

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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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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$77.4$10.6$66.8$26.5$24.2$2.23
2024Detailed filing. Detailed filing data is available for this year.$73.1$9.50$63.6$28.6$24.2$4.38
2023Detailed filing. Detailed filing data is available for this year.$82.3$25.2$57.2$26.8$23.5$3.29
2022Detailed filing. Detailed filing data is available for this year.$88.5$35.5$53.0$24.1$22.1$2.06
2021Detailed filing. Detailed filing data is available for this year.$91.5$37.5$54.0$23.4$20.6$2.87
2020Detailed filing. Detailed filing data is available for this year.$88.0$43.9$44.1$20.8$20.4$0.42
2019Detailed filing. Detailed filing data is available for this year.$81.4$37.2$44.1$22.1$20.0$2.14
2018Detailed filing. Detailed filing data is available for this year.$74.3$32.7$41.6$25.2$19.7$5.46
2017Detailed filing. Detailed filing data is available for this year.$65.4$32.4$33.0$26.2$20.7$5.50
2016Detailed filing. Detailed filing data is available for this year.$57.4$32.4$25.0$17.4$19.3$1.89
2015Detailed filing. Detailed filing data is available for this year.$60.2$31.7$28.5$18.0$18.9$0.91
2014Detailed filing. Detailed filing data is available for this year.$60.9$32.0$28.9$17.3$17.7$0.49
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$58.8$32.1$26.8$17.8
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$58.3$32.6$25.7$17.5
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$59.5$30.8$28.7$17.0
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$59.5$31.7$27.8$16.5