Town School Inc in New York, New York (NY)

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Town School Inc
Employer Identification Number (EIN)131393610
Name of OrganizationTown School Inc
Address540 E 76th St, New York, NY 10021-3394
ActivitiesPrivate school
SubsectionEducational Organization
Ruling Date03/1953
DeductibilityContributions are deductible
FoundationSchool
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period08/2012
Assets$50,000,000 to greater
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$52,353,663
Amount of Income$20,065,947
Form 990 Revenue Amount$17,429,610
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Elementary, Secondary Education, K - 12


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Amount of income in 2012: $20,065,947
This organization: 

 $20,065,947
Other organizations performing similar types of work: 

 $11,094,387

Assets in 2012: $52,353,663
This organization: 

 $52,353,663
Other organizations performing similar types of work: 

 $19,385,354

Expenses in 2002: $9,774,510
Town School Inc: 

 $9,774,510
Other organizations performing similar types of work: 

 $12,275,262

Income to expenses ratio in 2002: 1.1
This organization: 

 1.1
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2002: 67.1%
This organization: 

 67.1%
Other organizations performing similar types of work: 

 79.8%

Number of employees in 2002: 106
Town School Inc: 

 106
Other organizations performing similar types of work: 

 158

Employees paid over $50,000 in 2002: 36.8%
Town School Inc: 

 36.8%
Other organizations performing similar types of work: 

 27.0%

Grants share in income in 2002: 11.6%
This organization: 

 11.6%
Other organizations performing similar types of work: 

 13.7%

Financial snapshot ($)

Revenue for 2002

Assets at end of 2002

Expenses for 2002

Functional Expenses for 2002 ($)

Income-Producing Activities for 2002

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2002
Total revenue$10,364,649
Contributions, gifts, grants, and similar amounts received$1,197,119
Contributions to donor advised funds
Direct public support$1,154,910
Indirect public support$0
Government contributions (grants)$42,209
Program service revenue including government fees and contracts$8,763,623
Membership dues and assessments$0
Interest on savings and temporary cash investments$60,202
Dividends and interest from securities$310,293
Net rental income or (loss)$0
Gross rents$0
Less: rental expenses$0
Other investment income$0
Gain or (loss) from sales of assets other than inventory$-179
Gross amount from sales of assets other than inventory$1,375,110
Less: cost or other basis and sales expenses$1,375,289
Net income or (loss) from special events and activities$0
Gross revenue$0
Less: direct expenses other than fundraising expenses$0
Gross profit or (loss) from sales of inventory$0
Gross sales of inventory, less returns and allowances$0
Less: cost of goods sold$0
Other revenue$33,591
Total expenses$9,774,510
Program services$6,561,472
Management and general$2,934,947
Fundraising$278,091
Payments to affiliates$0
Net assets or fund balances at end of year$23,700,311
Excess or (deficit) for the year$590,139
Net assets or fund balances at beginning of year$21,608,838
Other changes in net assets or fund balances$1,501,334
Statement of Functional Expenses (for 2002)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$9,774,510$6,561,472$2,934,947$278,091
Grants paid from donor advised funds
Other grants and allocations$869,750
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$489,590$385,195$104,395$0
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$4,503,066$2,772,723$1,506,643$223,700
Pension plan contributions not included above$350,568$185,852$146,776$17,940
Employee benefits not included above$632,329$410,711$203,045$18,573
Payroll taxes$364,007$244,426$101,703$17,878
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$4,758$0$4,758$0
Supplies$125,551$125,551$0$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$172,387$172,387$0$0
Equipment rental and maintenance$121,557$121,557$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$24,268$24,268$0$0
Interest$2,751$0$2,751$0
Depreciation, depletion, etc.$530,842$0$530,842$0
Other expenses not covered above$1,583,086$1,249,052$334,034$0
Balance Sheets
2002
Total assets$31,459,955
Cash - non-interest-bearing$467,712
Savings and temporary cash investments$5,217,229
Accounts receivable less allowance for doubtful accounts$2,610,801
Pledges receivable less allowance for doubtful accounts$416,793
Grants receivable$0
Receivables from current and former officers, directors, trustees, and key employees$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$0
Inventories for sale or use$0
Prepaid expenses and deferred charges$270,794
Investments - publicly-traded securities
Investments - other securities$15,567,444
Investments - land, buildings, and equipment less accumulated depreciation$0
Investments - other$0
Land, buildings, and equipment less accumulated depreciation$6,909,182
Other assets, including program-related investments$0
Total liabilities$7,759,644
Accounts payable and accrued expenses$96,257
Grants payable$0
Deferred revenue$7,633,755
Loans from officers, directors, trustees, and key employees$0
Tax-exempt bond liabilities$0
Mortgages and other notes payable$29,632
Other liabilities$0
Total liabilities and net assets/fund balances$31,459,955
Total net assets or fund balances$23,700,311
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2002
Total revenue$10,364,649
Total revenue, gains, and other support per audited financial statements$10,996,233
Other expenses$1,501,334
Net unrealized gains on investments$1,501,334
Donated services and use of facilities$0
Recoveries of prior year grants$0
Other$0
Other revenue$869,750
Investment expenses$0
Other$869,750
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2002
Total expenses$9,774,510
Total expenses and losses per audited financial statements$8,904,760
Other revenue$0
Donated services and use of facilities$0
Prior year adjustments$0
Losses$0
Other$0
Other expenses$869,750
Investment expenses$0
Other$869,750
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 2006106
Analysis of Income-Producing Activities (for 2002)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$370,316$8,797,214
Program service revenue
Program service revenue 1000000$000$0$8,096,300
Program service revenue 2000000$000$0$427,385
Program service revenue 3000000$000$0$180,930
Program service revenue 4000000$000$0$24,538
Program service revenue 5000000$000$0$34,470
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$60,202$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$310,293$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$-179$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$33,591
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2002)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2002)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$86,000$14,902$0
$133,000$20,054$0
$101,000$16,704$0
$101,000$11,610$0
$112,000$17,321$0
Total number of other employees paid over $50,00034
Statements About Activities (for 2002)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isSchool
Support Schedule
2001
Total$0
Gifts, grants, and contributions received$0
Membership fees received$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0
Net income from unrelated business activities not included above$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0
Other income$0
Lobbying Expenditures by Electing Public Charities (for 2002)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Horace Mann School231 W 246th St, Bronx, NY 10471-3430NY1949-01$101,957,437
2Spence School22 E 91st St, New York, NY 10128-0657NY1942-03$79,471,720
3Ethical Culture Fieldston School33 Central Park W, New York, NY 10023-6001NY1996-06$76,019,479
4Riverdale Country School Inc5250 Fieldston Rd, Bronx, NY 10471-2935NY1942-12$74,616,095
5Trinity Episcopal Schools Corporation139 W 91st St, New York, NY 10024-1326NY1942-03$74,515,650
6Dalton Schools Inc108 E 89th St, New York, NY 10128-1502NY1973-11$71,931,070
7Collegiate School Inc260 W 78th St, New York, NY 10024-6559NY1942-08$70,416,834
8United Nations International School2450 Fdr Drive, New York, NY 10010-4000NY1950-11$68,369,763
9Columbia Grammar & Preparatory School5 W 93rd St, New York, NY 10025-7602NY1941-12$56,803,119
10Brearley School610 East 83rd Street, New York, NY 10028-7902NY1946-11$50,307,661
11Poly Prep Country Day School9216 7th Ave, Brooklyn, NY 11228-3622NY1946-01$50,068,639
12Chapin School Ltd100 E End Ave, New York, NY 10028-7403NY1938-04$46,728,083
13Rye Country Day SchoolCedar Street, Rye, NY 10580NY1936-08$44,771,934
14Saint Anns School129 Pierrepont St, Brooklyn, NY 11201-2705NY1982-09$42,517,466
15Lycee Francais De New York505 E 75th St, New York, NY 10021-3462NY1939-04$41,918,362
16International College-Beirut Lebanon1185 Avenue Of The Americas, New York, NY 10036-2601NY1934-04$41,413,631
17Abraham Joshua Heschel School20 W End Ave, New York, NY 10023-7809NY1981-12$41,050,159
18Packer Collegiate Institute170 Joralemon St, Brooklyn, NY 11201-4312NY1938-09$40,955,977
19Trevor Day School566 Columbus Ave, New York, NY 10024-2404NY1967-12$39,740,937
20Masters School49 Clinton Ave, Dobbs Ferry, NY 10522-2201NY1925-08$39,500,101
Number of organizations performing similar types of work
Alaska1
Alabama6
Arkansas4
Arizona5
California57
Colorado8
Connecticut15
District of Columbia4
Delaware6
Florida25
Georgia31
Hawaii5
Iowa4
Idaho3
Illinois19
Indiana6
Kansas3
Kentucky7
Louisiana7
Massachusetts21
Maryland23
Maine4
Michigan7
Minnesota12
Missouri8
Mississippi5
Montana2
North Carolina13
New Hampshire3
New Jersey19
New Mexico5
Nevada3
New York48
Ohio27
Oklahoma2
Oregon7
Pennsylvania31
South Carolina6
South Dakota3
Tennessee22
Texas32
Utah2
Virginia22
Vermont2
Washington20
Wisconsin8
West Virginia2
International4
Total579

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