Civic Intelligence

Roessler-Chadwick Foundation Chadwick School

990 • Fiscal year 2016 • EIN 95-0615438

Jul 01, 2015 to Jun 30, 2016 • Filed on May 15, 2017

26800 S Academy DrivePalos Verdes Peninsula, CA 90274

(310) 377-1543

Siviq Scores

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

Liabilities / Assets

77th percentile

0.65x

Higher debt load relative to assets than 77% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Liabilities / Revenue

61st percentile

0.66x

Higher debt load relative to revenue than 61% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Net Margin

65th percentile

6.6%

Higher net margin than 65% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

1st percentile

-32%

Faster asset growth than 1% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Revenue Growth

64th percentile

6.9%

Faster revenue growth than 64% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Assets

Down

$67,269,437

Down $31,766,780 (-32%) from 2015

Net Assets

Down

$23,773,004

Down $35,827,373 (-60%) from 2015

Liabilities

Up

$43,496,433

Up $4,060,593 (+10%) from 2015

Revenue

Up

$66,398,130

Up $4,313,161 (+6.9%) from 2015

Expenses

Up

$62,013,721

Up $5,109,249 (+9.0%) from 2015

Net Income

Down

$4,384,409

Down $796,088 (-15%) from 2015

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $61,083,255Liabilities 2010: $26,058,368Net Assets 2010: $35,024,8872010Assets 2011: $75,922,964Liabilities 2011: $33,076,354Net Assets 2011: $42,846,6102011Assets 2012: $82,927,632Liabilities 2012: $36,478,504Net Assets 2012: $46,449,1282012Assets 2013: $84,865,248Liabilities 2013: $35,472,633Net Assets 2013: $49,392,6152013Assets 2014: $94,653,776Liabilities 2014: $38,507,479Net Assets 2014: $56,146,2972014Assets 2015: $99,036,217Liabilities 2015: $39,435,840Net Assets 2015: $59,600,3772015Assets 2016: $67,269,437Liabilities 2016: $43,496,433Net Assets 2016: $23,773,0042016Assets 2017: $73,447,658Liabilities 2017: $48,997,735Net Assets 2017: $24,449,9232017Assets 2018: $74,521,118Liabilities 2018: $46,018,352Net Assets 2018: $28,502,7662018Assets 2019: $78,383,317Liabilities 2019: $47,058,399Net Assets 2019: $31,324,9182019Assets 2020: $134,311,023Liabilities 2020: $101,624,745Net Assets 2020: $32,686,2782020Assets 2021: $148,653,684Liabilities 2021: $111,957,106Net Assets 2021: $36,696,5782021Assets 2022: $135,058,819Liabilities 2022: $100,191,771Net Assets 2022: $34,867,0482022Assets 2023: $135,934,762Liabilities 2023: $96,969,533Net Assets 2023: $38,965,2292023Assets 2024: $142,699,220Liabilities 2024: $99,661,205Net Assets 2024: $43,038,0152024

Highlighted filing

2016

Assets$67,269,437
Liabilities$43,496,433
Net Assets$23,773,004

Operations Trend

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

$150M$100M$50M$0Expenses 2010: $25,424,4392010Expenses 2011: $40,555,0202011Revenue 2012: $50,280,076Expenses 2012: $44,930,289Net Income 2012: $5,349,7872012Expenses 2013: $48,447,8122013Revenue 2014: $56,961,289Expenses 2014: $53,880,284Net Income 2014: $3,081,0052014Revenue 2015: $62,084,969Expenses 2015: $56,904,472Net Income 2015: $5,180,4972015Revenue 2016: $66,398,130Expenses 2016: $62,013,721Net Income 2016: $4,384,4092016Revenue 2017: $71,766,037Expenses 2017: $68,516,262Net Income 2017: $3,249,7752017Revenue 2018: $76,349,562Expenses 2018: $73,467,267Net Income 2018: $2,882,2952018Revenue 2019: $81,265,388Expenses 2019: $78,039,208Net Income 2019: $3,226,1802019Revenue 2020: $82,286,390Expenses 2020: $79,708,565Net Income 2020: $2,577,8252020Revenue 2021: $85,001,982Expenses 2021: $82,685,204Net Income 2021: $2,316,7782021Revenue 2022: $90,538,058Expenses 2022: $86,612,886Net Income 2022: $3,925,1722022Revenue 2023: $95,804,266Expenses 2023: $92,302,719Net Income 2023: $3,501,5472023Revenue 2024: $103,844,589Expenses 2024: $99,725,950Net Income 2024: $4,118,6392024

Highlighted filing

2016

Revenue$66,398,130
Expenses$62,013,721
Net Income$4,384,409
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 15, 2017
Return Version
2015v3.0
Gross Receipts
$66,910,373
Mission and Program Overview

Mission

Chadwick school (k-12) and chadwick international (pk-12) develop global citizens with keen minds, exemplary character, self-knowledge and the ability to lead.

To educate children from kindergarten to the twelfth grade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$44,432,891$52,948,299▲ $8,515,408
Investments in Publicly Traded Securities$28,351,019$1,859,835▼ $26,491,184
Investments Other Securities$1,452,131--
Prepaid Expenses and Deferred Charges$1,514,975$1,328,080▼ $186,895
Land, Buildings, and Equipment, Net$18,875,659$907,707▼ $17,967,952
Pledges and Grants Receivable$1,281,671$415,718▼ $865,953
Accounts Receivable$413,573$292,079▼ $121,494
Inventories for Sale or Use$13,073$28,448▲ $15,375
Cash and Non-Interest-Bearing Accounts$750$750→ $0
Total Assets$99,036,217$67,269,437▼ $31,766,780
Other Assets Total$2,700,475$9,488,521▲ $6,788,046
Liabilities
Deferred Revenue$25,747,336$28,396,036▲ $2,648,700
Accounts Payable and Accrued Expenses$6,509,132$8,372,739▲ $1,863,607
Tax Exempt Bond Liabilities$6,100,000$5,800,000▼ $300,000
Other Liabilities$1,079,372$927,658▼ $151,714
Total Liabilities$39,435,840$43,496,433▲ $4,060,593
Net Assets / Fund Balance
Unrestricted Net Assets$49,288,108$21,069,115▼ $28,218,993
Temporarily Rstr Net Assets$9,946,001$2,703,889▼ $7,242,112
Permanently Rstr Net Assets$366,268$0▼ $366,268
Total Net Assets Fund Balance$59,600,377$23,773,004▼ $35,827,373
Total Liabilities and Net Assets / Fund Balance$99,036,217$67,269,437▼ $31,766,780

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$907,707$3,068,161$3,975,868
Other Land Buildings$0$512,832$512,832
Other Assets Org$7,031,984--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$28,927,773----
2014$27,098,193$2,110,581▲ $511,558-$28,927,773
2013$22,813,112$2,680,079▲ $3,067,902-$27,098,193
2012$19,154,774$1,622,403▲ $2,654,466-$22,813,112
2011$18,833,735$1,597,117▼ $697,960-$19,154,774
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Frederick T HillHeadmasterFT$262,810$201,136$463,946
Wille Michelle LukeHead of SchoolFT$267,656$126,636$394,292
Jennifer WillisDirector of Outdoor EducationFT$170,649$138,653$309,302
Paul ChoMusic TeacherFT$139,491$153,734$293,225
Connie KimMiddle School Principal - KoreaFT$153,544$131,328$284,872
George GostovichCounselorFT$138,506$144,263$282,769
Un Na HuhExternal Affairs Director - KoreaFT$165,522$101,621$267,143
Sun Hoo ChungCFO - KoreaFT$191,513$68,382$259,895
Chul ParkC.i.o.FT$208,357$45,327$253,684
Craig WilliamsonAssistant Head of School - KoreaFT$169,894$75,555$245,449
John KjennerC.f.o.FT$212,288$11,949$224,237
Bruce PochDean of Admission & Exec Director College CounselingFT$168,378-$168,378
Bruce PochDean of Admission & Exec Director College-$154,594$13,784$168,378

Highest Paid Contractors

ContractorServicesLocationCompensation
New Songdo International Development LlFacility Maintenance, Security, Cleaning201 3RD AVENUE SUITE 2200, Seattle, WA 98101, Ks$1,571,820
Davis Wright Tremaine LLPLegal Consulting6033 WEST CENTURY BOULEVARD SUITE, Los Angeles, CA 90045, Ks$174,036
Samjong Accounting CorpAccounting Services/tax Consulting10651 PARLIAMENT AVENUE, Garden Grove, CA 92840$140,171
Liebert Cassidy WhitmoreLegal Consulting-$138,546
Kc ConstructionConstruction-$107,825
Revenue and Support

Revenue Composition

Contributions and Grants
$3,344,699
Program Service Revenue
$61,789,999
Investment Income
$742,990
Other Revenue
$520,442
All Other Contributions
$3,272,198
Change in Net Assets
$4,384,409

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 Traded10$180,314Avg. of High and Low
Total Noncash Contributions10$180,314-

Audited Revenue Reconciliation

Revenue per Audited Statements
$66,385,324
Revenue Not Reported on Financial Statements
$12,806
Revenue Not Reported on Form 990
$-4,117,767
Total Revenue per Audited Statements
$62,267,557
Total Revenue per Form 990
$66,398,130
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$40,327,816
Other Expenses$17,995,167
Grants and Similar Amounts Paid$3,690,738
Total Fundraising Expense$932,859
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$22,918,569$1,961,486$499,494$25,379,549
Other Employee Benefits$9,275,227$850,439$64,698$10,190,364
Occupancy$3,931,143$747,001-$4,678,144
Grants to Domestic Individuals$3,146,942--$3,146,942
All Other Expenses$2,020,897$556,114$10,115$2,587,126
Current Officers, Directors, Trustees, and Key Employees$1,036,706$1,114,665-$2,151,371
Pension Plan Contributions$1,141,610$146,372$23,824$1,311,806
Payroll Taxes$1,085,953$170,636$38,137$1,294,726
Office Expenses$602,648$392,153$144,398$1,139,199
Insurance$320,637$484,776-$805,413
Other Expenses$763,004$351,973$7,926$763,004
Fees for Services Legal-$650,382-$650,382
Conferences and Meetings$379,187$117,802$86,002$582,991
Fees for Services Other$441,210$113,289$24,743$579,242
Foreign Grants$543,796--$543,796
Information Technology$228,162$272,185-$500,347
Travel$128,653$359,738$11,022$499,413
Advertising$294,629$159,523$22,500$476,652
Fees for Services Accounting-$258,176-$258,176
Depreciation Depletion$77,376$85,645-$163,021
Fees for Service Investment Mgmnt Fees-$12,806-$12,806
Total Functional Expenses$51,938,579$9,142,283$932,859$62,013,721

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$62,013,721
Expenses per Audited Statements$62,000,915
Total Expenses per Audited Statements$58,310,177
Expenses Not Reported on Financial Statements$12,806
Expenses Not Reported on Form 990$-3,690,738
International Activity

International Summary

Offices
2
Employees
410
Spending
$59,406,087

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
East Asia and the Pacific -Expenses for Pre-kindergarten Through 12th Grade International SchoolOperation of Pre-kindergarten Through High School1205$32,067,396
East Asia and the Pacific -Assets for Pre-kindergarten Through 12th Grade International SchoolOperation of Pre-kindergarten Through High School1205$27,338,691
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$81,371
Fundraising Direct Expenses$80,578
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Chadwick Spring Gala$138,008$74,850$47,376$27,474
Pizza Day$14,012$6,521$6,522$-1
Total Events$153,872$81,371$80,579$792
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$832,826
Forward Contracts - International School$94,832
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
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1

Our bylaws state that "the executive committee shall have and may exercise any and all of the powers and authority of the board of trustees during intervals between meetings of the full board of trustees, except that it shall not have the power to adopt, amend or repeal the bylaws or take such other action as is prohibited or not authorized by law."

Form 990, Part VI, Section B, Line 11

The finance committee is presented a draft of the form 990 for review. A copy of the final form 990 is then given to the board of directors for review and comment before it is filed with the irs.

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

Each new trustee completes a "conflict of interest" questionnaire and then annually each board member completes the "governance conflict" questionnaire. Upon identification of a conflict of interest, the chairman and the board will best determine how to proceed and whether resignation is appropriate.

Form 990, Part VI, Section B, Line 15

The board of trustees annually reviews the total compensation of the school's headmaster. Each year, competitive compensation guidelines are established through the use of market data provided by third party surveys and public disclosures by relevant comparable schools. In all cases, the process includes: use of comparables, approval by either the board of trustees or a designated committee thereof, and contemporaneous documentation of the decision making process. The process described above is applied to other executive positions, including the chief financial officer and director of advancement, in the event of material changes.

Form 990, Part VI, Section C, Line 19

The form 990, the determination letter, the conflict of interest, and governing documents are available upon request by the public. A copy of the form 990 is also available on guidestar.org.

Filing and Contact Details

Filer

Filer Name
Roessler-chadwick Foundation
EIN
95-0615438
Phone
3103771543
Address
26800 S ACADEMY DRIVE, PALOS VERDES PENINSULA, CA 90274
Doing Business As
Chadwick School & Chadwick Intl

Signing Officer

Name
John Kjenner
Title
CFO
Phone
3103771543
Signed
2017-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frederick T Hill
Formed
1935
Legal Domicile
CA
Voting Board Members
24
Independent Board Members
24
Employees
480
Volunteers
150

Preparer

Firm
Windes Inc
Address
PO BOX 87, LONG BEACH, CA 90801-0087
Preparer
Donita M Joseph
Phone
5624351191
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Asset transfer to roessler-chadwick fndtn group pursuant to reorganization. -39,784,753.

Financial Statement Notes

PART X, LINE 2:

The foundation is a public charity structured as a nonprofit corporation under internal revenue code section 501(c)(3). The foundation is exempt from income taxes, domestic and foreign, related to revenue received in connection with exempt programs. The foundation recognizes the financial statement benefit of tax positions, such as its filing status as tax-exempt, only after determining that the relevant tax authority would more likely than not sustain the position following an audit. The foundation is subject to potential income tax audits on open tax years by any taxing jurisdiction in which it operates. The statute of limitations for federal and california state purposes is generally three and four years, respectively.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Financial aid -3,690,738.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Financial aid -3,690,738.

Part V, Line 1D and Part VI

As of july 1, 2015, the roessler-chadwick foundation (the foundation), pursuant to a plan of reorganization, transferred certain real estate and plant assets, endowment assets and intellectual property to the roessler-chadwick foundation group (rcf group), a 509(a)(3) type ii suppporting organization of the foundation. The rcf group will hold, manage and invest the assets transferred by the foundation and make expenditures for the benefit of the foundation and its students, including providing a source of funding for the foundation's scholarship program and engaging in related managerial functions.

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IRS990/Desc0CHADWICK SCHOOL, FOUNDED IN 1935, IS LOCATED IN PALOS VERDES PENINSULA, CA, SERVING APPROXIMATELY 829 STUDENTS EACH YEAR, K-12. THROUGH ACTIVE PARTICIPATION IN A DIVERSE SCHOOL COMMUNITY, STUDENTS PREPARE TO CONTRIBUTE MEANINGFULLY TO THEIR LOCAL, NATIONAL, AND GLOBAL COMMUNITIES. TALENTED AND CARING FACULTY AND STAFF CULTIVATE IN EACH STUDENT THE JOY OF LEARNING, SELF-CONFIDENCE, WELL-BEING, AND THE INDIVIDUAL GIFTS THAT EACH POSSESSES. BY LIVING AND LEARNING IN AN ATMOSPHERE OF INTEGRITY AND TRUST, STUDENTS COME TO EXPECT THE BEST OF THEMSELVES AND OTHERS. OTHER PROGRAM SERVICES INCLUDE AN OUTDOOR EDUCATION PROGRAM THAT IS A MANDATORY PROGRAM FOR STUDENTS FROM GRADES 3 THROUGH 12. ITS PURPOSE IS TIED CLOSELY TO THE SCHOOL'S MISSION WHICH IS TO DEVELOP "SELF CONFIDENT INDIVIDUALS OF EXEMPLARY CHARACTER."
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IRS990/Form990PartVIISectionAGrp/PersonNm0MARK WOODRUFF
IRS990/Form990PartVIISectionAGrp/PersonNm1NICK RICHARDSON
IRS990/Form990PartVIISectionAGrp/PersonNm2LYNN HOPTON DAVIS
IRS990/Form990PartVIISectionAGrp/PersonNm3KEN BARONSKY
IRS990/Form990PartVIISectionAGrp/PersonNm4CHRISTOPHER ADISHIAN
IRS990/Form990PartVIISectionAGrp/PersonNm5CHRISTINE BUCKLIN
IRS990/Form990PartVIISectionAGrp/PersonNm6LINDA CALHOUN
IRS990/Form990PartVIISectionAGrp/PersonNm7DAVID CARTER
IRS990/Form990PartVIISectionAGrp/PersonNm8JOE CHADWICK PERMANENT
IRS990/Form990PartVIISectionAGrp/PersonNm9PHILIP C CHEN
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IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE EMERITUS
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IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$143$99.7$43.0$104$99.7$4.12
2023Summary only. Only limited summary data is available for this year.$136$97.0$39.0$95.8$92.3$3.50
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$135$100$34.9$90.5$86.6$3.93
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$149$112$36.7$85.0$82.7$2.32
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$134$102$32.7$82.3$79.7$2.58
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$78.4$47.1$31.3$81.3$78.0$3.23
2018Summary only. Only limited summary data is available for this year.$74.5$46.0$28.5$76.3$73.5$2.88
2017Summary only. Only limited summary data is available for this year.$73.4$49.0$24.4$71.8$68.5$3.25
2016Detailed filing. Detailed filing data is available for this year.$67.3$43.5$23.8$66.4$62.0$4.38
2015Detailed filing. Detailed filing data is available for this year.$99.0$39.4$59.6$62.1$56.9$5.18
2014Detailed filing. Detailed filing data is available for this year.$94.7$38.5$56.1$57.0$53.9$3.08
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$84.9$35.5$49.4$48.4
2012Summary only. Only limited summary data is available for this year.$82.9$36.5$46.4$50.3$44.9$5.35
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$75.9$33.1$42.8$40.6
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$61.1$26.1$35.0$25.4
Peer Organizations

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