Civic Intelligence

Parish Episcopal School

990 • Fiscal year 2015 • EIN 75-1390485

Jul 01, 2014 to Jun 30, 2015 • Filed on Mar 24, 2016

4101 Sigma RoadDallas, TX 75244

(972) 239-8011

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.76x

Higher debt load relative to assets than 83% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

79th percentile

1.51x

Higher debt load relative to revenue than 79% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Net Margin

37th percentile

1.1%

Higher net margin than 37% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

60th percentile

$401,241

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Asset Growth

67th percentile

5.7%

Faster asset growth than 67% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

57th percentile

5.9%

Faster revenue growth than 57% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Assets

Up

$60,181,740

Up $3,248,384 (+5.7%) from 2014

Net Assets

Up

$14,593,598

Up $628,502 (+4.5%) from 2014

Liabilities

Up

$45,588,142

Up $2,619,882 (+6.1%) from 2014

Revenue

Up

$30,202,487

Up $1,683,777 (+5.9%) from 2014

Expenses

Up

$29,861,909

Up $864,510 (+3.0%) from 2014

Net Income

Up

$340,578

Up $819,267 (+171%) from 2014

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2013: $58,204,426Liabilities 2013: $43,911,391Net Assets 2013: $14,293,0352013Assets 2014: $56,933,356Liabilities 2014: $42,968,260Net Assets 2014: $13,965,0962014Assets 2015: $60,181,740Liabilities 2015: $45,588,142Net Assets 2015: $14,593,5982015Assets 2016: $63,636,487Liabilities 2016: $45,006,874Net Assets 2016: $18,629,6132016Assets 2017: $68,142,745Liabilities 2017: $46,453,902Net Assets 2017: $21,688,8432017Assets 2018: $73,711,237Liabilities 2018: $44,471,611Net Assets 2018: $29,239,6262018Assets 2019: $81,185,089Liabilities 2019: $44,970,939Net Assets 2019: $36,214,1502019Assets 2020: $85,887,048Liabilities 2020: $47,689,112Net Assets 2020: $38,197,9362020Assets 2021: $99,531,938Liabilities 2021: $58,780,991Net Assets 2021: $40,750,9472021Assets 2022: $98,253,002Liabilities 2022: $55,677,795Net Assets 2022: $42,575,2072022Assets 2024: $103,630,105Liabilities 2024: $58,288,872Net Assets 2024: $45,341,2332024

Highlighted filing

2015

Assets$60,181,740
Liabilities$45,588,142
Net Assets$14,593,598

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2013: $27,565,5432013Revenue 2014: $28,518,710Expenses 2014: $28,997,399Net Income 2014: -$478,6892014Revenue 2015: $30,202,487Expenses 2015: $29,861,909Net Income 2015: $340,5782015Revenue 2016: $34,953,418Expenses 2016: $30,917,403Net Income 2016: $4,036,0152016Revenue 2017: $35,761,330Expenses 2017: $32,705,094Net Income 2017: $3,056,2362017Revenue 2018: $42,084,540Expenses 2018: $34,533,757Net Income 2018: $7,550,7832018Revenue 2019: $43,972,480Expenses 2019: $36,269,304Net Income 2019: $7,703,1762019Revenue 2020: $38,216,604Expenses 2020: $35,319,824Net Income 2020: $2,896,7802020Revenue 2021: $38,441,453Expenses 2021: $36,371,492Net Income 2021: $2,069,9612021Revenue 2022: $42,460,086Expenses 2022: $41,639,064Net Income 2022: $821,0222022Revenue 2024: $47,622,294Expenses 2024: $46,059,012Net Income 2024: $1,563,2822024

Highlighted filing

2015

Revenue$30,202,487
Expenses$29,861,909
Net Income$340,578
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Mar 24, 2016
Return Version
2014v6.0
Gross Receipts
$31,264,589
Mission and Program Overview

Mission

Inspired by our values of wisdom, honor, and service, parish episcopal school's inclusive episcopal community guides young people to become creative learners and bold leaders prepared to impact our complex global society.

Organized in 1972, parish episcopal school provides an exceptional learning environment in the dallas/fort worth metroplex serving over 1,100 students in grades preschool through twelfth grade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$33,941,045$31,938,349▼ $2,002,696
Cash and Non-Interest-Bearing Accounts$18,527,245$21,744,008▲ $3,216,763
Prepaid Expenses and Deferred Charges$733,708$3,066,927▲ $2,333,219
Pledges and Grants Receivable$2,392,635$1,871,872▼ $520,763
Accounts Receivable$907,935$933,079▲ $25,144
Inventories for Sale or Use$255,425$283,087▲ $27,662
Investments in Publicly Traded Securities$175,363$179,616▲ $4,253
Total Assets$56,933,356$60,181,740▲ $3,248,384
Other Assets Total$0$164,802▲ $164,802
Liabilities
Tax Exempt Bond Liabilities$24,568,044$23,409,640▼ $1,158,404
Deferred Revenue$16,688,243$17,825,233▲ $1,136,990
Unsecured Notes Loans Payable-$2,250,000-
Accounts Payable and Accrued Expenses$1,624,164$1,971,365▲ $347,201
Other Liabilities$87,809$131,904▲ $44,095
Total Liabilities$42,968,260$45,588,142▲ $2,619,882
Net Assets / Fund Balance
Unrestricted Net Assets$9,148,709$8,786,205▼ $362,504
Temporarily Rstr Net Assets$4,816,387$5,807,393▲ $991,006
Total Net Assets Fund Balance$13,965,096$14,593,598▲ $628,502
Total Liabilities and Net Assets / Fund Balance$56,933,356$60,181,740▲ $3,248,384

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$24,639,051$20,553,042$45,192,093
Equipment$4,442,676$6,328,040$10,770,716
Land$2,607,000-$2,607,000
Other Land Buildings$249,622$1,600,324$1,849,946

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$23,522,188$202,655▲ $443,511$84,346$23,756,240
2014$22,162,274$181,380▲ $1,476,418$71,755$23,522,188
2013$11,704,389$10,294,660▲ $327,694-$22,162,274
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dave MonacoHead of SchoolFT$319,782$81,459$401,241
J Mark KirkpatrickChief Financial OfficerFT$162,416$14,441$176,857
Michelle LyonProvost and Head of Upper SchoolFT$139,695$13,032$152,727
Marci McleanChief Advancement OfficerFT$119,397$5,117$124,514
Elizabeth DemarestHead of Lower SchoolFT$107,115$10,914$118,029

Board Members and Trustees

NameTitle
Christopher RayBoard of Trustees - Chair
Tim EllerBoard of Trustees - Vice Chair
Nancy Ann HuntBoard of Trustees - Emerita
Allen MeyerBoard of Trustees - Emeritus
The Rev Casey ShobeBoard of Trustees - Ex Officio
Andrea MayfieldBoard of Trustees - Secretary
Bill EdwardsBoard of Trustees - Senior Warden
Steve McdonaldBoard of Trustees - Treasurer
Beth GerweDirector
Bill RademacherDirector
Bud ApplebaumDirector
Christine AshmoreDirector
Drew KoecherDirector
Ed BowmanDirector
Hollye FiskDirector
Jay MadridDirector
John ScullyDirector
Kathy PershernDirector
Kimberly RichDirector
Lucy Long WelchDirector
Lynn SmithDirector
Michael WeinmanDirector
Randy PolkaDirector
Ron DenheyerDirector
Warren WhiteDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Sage Dining Service INCFood Service1402 YORK ROAD SUITE 100, Lutherville, MD 21093$765,357
Reliant EnergyElectric ServicePO BOX 120954, Dallas, TX 75312-0954$501,417
Entrust OneCleaning Service11142 SHADY TRAIL, Dallas, TX 75229$394,406
TdindustriesMaintenance ServicePO BOX 300008, Dallas, TX 75303-0008$171,875
Silverstone ElectricElectric Service230 NORTH ARMSTRONG ROAD, Venus, TX 76084$125,007
Revenue and Support

Revenue Composition

Contributions and Grants
$3,189,700
Program Service Revenue
$26,829,523
Investment Income
$72,182
Other Revenue
$111,082
All Other Contributions
$2,617,090
Change in Net Assets
$340,578

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 Traded15$363,511Selling Price
Other Non Cash Contri Table132$22,928Selling Price
Collectibles19$12,938Selling Price
Other Non Cash Contri Table13$7,495Selling Price
Cars and Other Vehicles1$6,800Selling Price
Other Non Cash Contri Table7$1,765Selling Price
Other Non Cash Contri Table3$1,169Selling Price
Books and Publications-$778Selling Price
Total Noncash Contributions190$417,384-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$17,520,384
Other Expenses$9,920,532
Grants and Similar Amounts Paid$2,420,993
Total Fundraising Expense$588,332
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$11,702,296$1,084,732$346,623$13,133,651
Depreciation Depletion$2,892,665$59,337$14,834$2,966,836
Grants to Domestic Individuals$2,420,993--$2,420,993
Occupancy$1,896,738$85,137$9,543$1,991,418
Other Employee Benefits$1,595,070$210,772$43,016$1,848,858
Payroll Taxes$826,652$109,140$28,861$964,653
Current Officers, Directors, Trustees, and Key Employees$393,878$543,926-$937,804
Fees for Services Other$810,329$72,164-$882,493
Interest$791,562$16,237$4,059$811,858
Pension Plan Contributions$542,599$76,240$16,579$635,418
All Other Expenses$167,419$114,944$856$283,219
Office Expenses-$255,756-$255,756
Insurance$196,809$8,406$2,101$207,316
Conferences and Meetings$116,724--$116,724
Information Technology-$112,620-$112,620
Advertising$24,731$71,054-$95,785
Other Expenses$48,061$43,531$121,832$91,592
Fees for Services Accounting-$67,757-$67,757
Fees for Services Legal-$32,657-$32,657
Fees for Service Investment Mgmnt Fees-$33-$33
Total Functional Expenses$26,203,286$3,070,291$588,332$29,861,909
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$631,754
Fundraising Gross Income$402,297
Gaming Gross Income$70,100
Gaming Direct Expenses$43,780
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Gala$453,529$213,684$201,060$12,624
Golf Tournament$37,510$24,310$1,800$22,510
Total Events$515,104$259,159$513,675$-254,516
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
Harold MacdowellFormer TrusteeCampus Maintenance & ServiceNo$132,319
Billie StatonFormer TrusteePurchase of ApparelNo$3,288
Christopher GeymullerFormer TrusteeSecurity Monitoring & ServiceNo$2,088
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Compensation Payable$131,904

Bond Issues

BondIssuerIssuedIssue PricePurpose
ARed River Education Finance Corporation2010-12-30$27,325,000Provide education facilities for use at the farmers branch, tx campus

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A----

Bond Financing Compliance

No rebate due
No
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 family members
No
Business relationship with organization members
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

The draft of the form 990 is reviewed and approved by the risk management committee prior to filing. The form 990 is also made avaliable to the entire board prior to filing.

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

The conflict of interest policy was originally approved by the board in 1998 and was most recently amended in 2007. The policy is distributed at the beginning of each year to all board members and is included in the board of trustees manual. The policy requires the board member to attest they have not held any office or directorship or have a personal financial interest, directly or indirectly, in any corporation, partnership or entity which transacts business with parish episcopal school (the school), they do not individually transact any business, directly or indirectly, with the school and are not related to any individual in the employ of the school or doing business with the school. At each committee and board meeting, members are expected to comply with the policy. Any board members with a potential conflict of interest are expected to recuse themselves from any relevant issue and the recusal is reflected in the minutes of that meeting.

Form 990, Part VI, Section B, Line 15

The head of school's compensation is outlined in his 3 year contract. Each year the executive committee reviews the head of school's performance and goals and an annual merit adjustment is made to his compensation. The chief financial officer's compensation is based upon experience upon hire and receives the merit increase for staff as established annually by the board of trustees.

Form 990, Part VI, Section C, Line 19

The organization's governing documents, conflict of interest policy, and financial statements are available to the school community (employees, volunteer leadership, trustees)but not to the general public outside the school community.

Filing and Contact Details

Filer

Filer Name
Parish Episcopal School
EIN
75-1390485
Phone
9722398011
Address
4101 SIGMA ROAD, DALLAS, TX 75244

Signing Officer

Name
Mark Kirkpatrick
Title
CFO
Phone
9722398011
Signed
2016-03-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Kirkpatrick
Formed
1972
Legal Domicile
TX
Voting Board Members
26
Independent Board Members
26
Employees
400
Volunteers
262

Preparer

Firm
Whitley Penn Llp
Address
8343 DOUGLAS AVENUE SUITE 400, DALLAS, TX 75225
Preparer
Curtis Maxfield
Phone
2143939300
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The financial reporting oversight process has not changed from the prior year.

Financial Statement Notes

PART V, LINE 4:

The endowment funds are used for the benefit of parish episcopal school.

PART X, LINE 2:

The school is exempt from federal income taxes under section 501(c)(3) of the internal revenue code (the "code") and therefore no provision has been made for federal income taxes in the financial statements. In addition, the school has been classified as an entity that is not a private foundation within the meaning of section 509(a) of the code. There was no unrelated business income for fiscal 2015 and 2014. The school is also exempt from state income taxes. Management has evaluated the school's federal and state tax positions and believes there are no significant uncertain tax positions and believes that it has not taken a tax position that, if challenged, would have a material effect on the financial statements. The school is required to file an annual information return with the internal revenue service ("irs"). The school files form 990 in the united states federal jurisdiction within the united states and no tax returns are currently under examination by any tax authorities.

Raw XML AppendixShowing 400 of 999 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/ActivityOrMissionDesc0ORGANIZED IN 1972, PARISH EPISCOPAL SCHOOL PROVIDES AN EXCEPTIONAL LEARNING ENVIRONMENT IN THE DALLAS/FORT WORTH METROPLEX SERVING OVER 1,100 STUDENTS IN GRADES PRESCHOOL THROUGH TWELFTH GRADE.
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IRS990/Desc0DURING THE FISCAL YEAR ENDED JUNE 30, 2015, PARISH EPISCOPAL SCHOOL PROVIDED QUALITY EDUCATIONAL SERVICES TO APPROXIMATELY 1,100 STUDENTS IN GRADES PRESCHOOL THROUGH TWELFTH GRADE.
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IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD OF TRUSTEES - TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD OF TRUSTEES - EX OFFICIO
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD OF TRUSTEES - SENIOR WARDEN
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD OF TRUSTEES - EMERITA
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD OF TRUSTEES - EMERITUS
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IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt26CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt27PROVOST AND HEAD OF UPPER SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt28CHIEF ADVANCEMENT OFFICER
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