King School Incorporated FY2021 filing

Tax-deductible

Stamford, CT501(c)(3)Since 1988EducationEIN 06-1229222

King school prepares students to thrive in a rapidly changing world. Our students are immersed in an engaging and innovative curriculum anchored in an inquiry-based approach that fosters curiosity, intellectual growth, and character development. At king, individual accomplishment complements a deep sense of belonging. We embrace diversity in all its forms, nurturing every student to learn and grow in a collaborative and supportive community. Guided by dedicated educators and a commitment to academic excellence, king students become invested in their journey, develop a lifelong love of learning, and are well-equipped to succeed in college and beyond. They graduate with a global mindset, a strong sense of social responsibility, and the confidence to pursue lives of purpose.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
$1.7M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $2.3M a year · 6% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.7M
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $304K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$37.9M
33% of total assets
Looks good: liabilities are 33% of assets; 50% or less.
Pt X · Ln 26
Independent board members
26
of 26 voting members
Looks good: 26 of 26 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$37.3M
-0.3% vs prior year
Spent
$36.7M
To programs
79%
Net assets
$76.2M
By yearFY2020–FY2024
Revenue
$37.3M
FY2021-0.3%
Revenue by fiscal year
FY2020$37.4M
FY2021$37.3M
FY2022$41.2M
FY2023$42.0M
FY2024$48.0M
FY2024$49.7M
Expenses
$36.7M
FY2021▲ +8%
Expenses by fiscal year
FY2020$34.2M
FY2021$36.7M
FY2022$38.0M
FY2023$41.1M
FY2024$44.2M
FY2024$46.7M
Net assets
$76.2M
FY2021▲ +11%
Net assets by fiscal year
FY2020$68.5M
FY2021$76.2M
FY2022$71.1M
FY2023$74.5M
FY2024$82.7M
FY2024$88.3M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1989.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $29.2M Management & general 18% · $6.5M Fundraising 3% · $1.0M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

35 people listed on the 990; $1.7M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Head of School (until 06/21)
$471,480Pt VII · Sec A
Assoc. Head of Finance (until 12/20)
$366,075Pt VII · Sec A
Assoc. Head/Head of Upper
$207,098Pt VII · Sec A
Director of Admission
$176,116Pt VII · Sec A
Chair of Counseling Dept.
$172,537Pt VII · Sec A
Director of Development
$168,421Pt VII · Sec A
Dean of Athletics
$162,433Pt VII · Sec A
First at Large
$0Pt VII · Sec A

Carol Maoz’s $598K as Head of School is at the 94th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Carol Maoz$597,578$544,739$408,335$203,808——
Karen Eshoo———$400,327$471,480$467,354
Kimberly Leeker———$297,771$366,075$355,771
Stephen Schafer$363,525$338,772$320,661$337,713——
Marnie Sadlowsky$235,316$219,519$210,507$203,616——
Sandy Lizaire-Duff$228,084$214,884$203,350$196,584——
Janine Newman$216,847$201,253$190,800$182,862$176,116$151,941
Barbara Drayer—$215,637$211,233———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates students for college success in Stamford, Connecticut.

Provided by the organization

This section is blank until King School Incorporated claims this page.

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1 program service account for $29.2M of program spending, described in the organization's own filed words · FY2020.
01

Provided college preparatory education for approximately 700 children ages pre-school through grade 12. Educational programs include both traditional academic year as well as summer programs.

$29.2Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$304K
Grants paid · 9 grants · $12.6M · 2019–2024
Unitemized GrantFY2021$4,399,564
Unitemized GrantFY2020$4,228,051
Unitemized GrantFY2020$23,419
Unitemized GrantFY2019$3,901,646
Unitemized GrantFY2019$23,697

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$37.3M
Ln 12
Fees for servicesLn 2g$32.4M
Gifts and grantsLn 1h$4.2M
Investment incomeLn 3$373K
Money outPt IX
$36.7M
Ln 25
Programscol B$29.2M
Managementcol C$6.5M
Fundraisingcol D$1.0M
Owns and owesPt X
$76.2M
net assets · Ln 32
Cash and savingsLn 1–2$13.7M
Total assetsLn 16$114.1M
LiabilitiesLn 26$37.9M
PeoplePt VI, VII
35
listed · VII A
PaidVII A7
Voting boardVI 1a26
IndependentVI 1b26
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.2M
Government grantsLn 1e$629K
Noncash giftsLn 1g$1.1M
Fundraising eventsLn 1c$142K
Fees for servicesLn 2g$32.4M
Investment incomeLn 3$373K
Other incomeLn 4–11$263K
Gains on assetsLn 7−$3K
Total revenueLn 12$37.3M
Assets in detailPt X, end of year
CashLn 1$3.2M
SavingsLn 2$10.5M
Cash and savings togetherLn 1–2$13.7M
InvestmentsLn 11–13$41.0M
Land, buildings, equipmentLn 10c$34.9M
Other assetsLn 15$1.2M
Total assetsLn 16$114.1M
LiabilitiesLn 26$37.9M
Net assetsLn 32$76.2M
OperationsPt I, VI
EmployeesI 5405
VolunteersI 697
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$14.7M$13.7M
InvestmentsLn 11–13$33.2M$41.0M
Land, buildings, equipmentLn 10c$33.8M$34.9M
Total assetsLn 16$85.8M$114.1M
LiabilitiesLn 26$17.3M$37.9M
Net assetsLn 32$68.5M$76.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$4.3M$4.3M
Pay of current officers, directors and key staffLn 5$1.3M$1.3M
Other salaries and wagesLn 7$15.0M$12.9M$1.7M$441K
Pension plan contributionsLn 8$740K$654K$63K$22K
Other employee benefitsLn 9$3.3M$2.5M$748K$77K
Payroll taxesLn 10$1.0M$836K$156K$31K
Legal feesLn 11b$285K$285K
Accounting feesLn 11c$137K$137K
Investment management feesLn 11f$169K$169K
Other fees for servicesLn 11g$525K$77K$448K
Advertising and promotionLn 12$657K$355K$103K$199K
Information technologyLn 14$682K$682K
OccupancyLn 16$2.6M$2.0M$502K$8K
TravelLn 17$16K$13K$3K
InterestLn 20$149K$52K$97K
Depreciation, depletion and amortizationLn 22$2.9M$2.6M$290K
InsuranceLn 23$412K$144K$268K
Other expenses (24a–d)Ln 24$2.5M$2.0M$313K$153K
All other expensesLn 24e$101K$101K
Total functional expensesLn 25$36.7M$29.2M$6.5M$1.0M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $48.0M$44.2M$3.8M$82.7M 990 PDF
FY2023 $42.0M$41.1M$898K$74.5M 990 PDF
FY2022 $41.2M$38.0M$3.1M$71.1M 990 PDF
FY2021 Viewing $37.3M$36.7M$569K$76.2M 990 PDF
FY2020 $37.4M$34.2M$3.3M$68.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $37,308,932 across 12 lines filed
VIII-1c Fundraising events$141,634
VIII-1e Government grants$629,260
VIII-1f All other contributions, gifts and grants$3,458,127
VIII-1g Noncash contributions (included above)$1,117,798
VIII-1h Total contributions, gifts and grants$4,229,021
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $32,444,093$32,444,093
VIII-3 Investment incomeExcluded from tax $376,198$376,198
VIII-6 Net rental income or lossExcluded from tax $18,000$18,000
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$2,911−$2,911
VIII-8 Net income from fundraising eventsExcluded from tax −$401−$401
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $244,932$244,932
VIII-12 Total revenueRelated to mission $32,444,093 · Unrelated business $0 · Excluded from tax $635,818$37,308,932
Part IX · Statement of functional expenses $36,739,521 across 19 lines filed
IX-2 Grants to domestic individualsPrograms $4,251,470$4,251,470
IX-5 Pay of current officers, directors and key staffManagement $1,309,642$1,309,642
IX-7 Other salaries and wagesPrograms $12,892,970 · Management $1,653,405 · Fundraising $440,820$14,987,195
IX-8 Pension plan contributionsPrograms $654,081 · Management $63,224 · Fundraising $22,472$739,777
IX-9 Other employee benefitsPrograms $2,512,705 · Management $747,567 · Fundraising $77,437$3,337,709
IX-10 Payroll taxesPrograms $836,139 · Management $156,175 · Fundraising $31,164$1,023,478
IX-11b Legal feesManagement $284,573$284,573
IX-11c Accounting feesManagement $136,625$136,625
IX-11f Investment management feesManagement $169,000$169,000
IX-11g Other fees for servicesPrograms $76,798 · Management $448,171$524,969
IX-12 Advertising and promotionPrograms $354,944 · Management $103,018 · Fundraising $199,308$657,270
IX-14 Information technologyPrograms $681,683$681,683
IX-16 OccupancyPrograms $2,041,685 · Management $502,368 · Fundraising $8,054$2,552,107
IX-17 TravelPrograms $12,631 · Management $3,158$15,789
IX-20 InterestPrograms $52,119 · Management $96,793$148,912
IX-22 Depreciation, depletion and amortizationPrograms $2,614,001 · Management $290,444$2,904,445
IX-23 InsurancePrograms $144,203 · Management $267,805$412,008
IX-24 Other expenses (24a–d)Programs $2,035,341 · Management $312,870 · Fundraising $153,387$2,501,598
IX-24e All other expensesFundraising $101,271$101,271
IX-25 Total functional expensesPrograms $29,160,770 · Management $6,544,838 · Fundraising $1,033,913$36,739,521
Part X · Balance sheet $114,064,346 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $4,791,910$3,218,123
X-2 Savings and temporary cash investmentsStart of year $9,877,541$10,493,682
X-3 Pledges and grants receivableStart of year $2,270,404$2,077,023
X-4 Accounts receivableStart of year $102,792$20,610,995
X-9 Prepaid expenses and deferred chargesStart of year $748,557$656,962
X-10c Land, buildings and equipment, netStart of year $33,751,024$34,883,430
X-11 Publicly traded securitiesStart of year $26,233,252$32,451,375
X-12 Other securitiesStart of year $7,016,127$8,519,903
X-15 Other assetsStart of year $1,006,955$1,152,853
X-16 Total assetsStart of year $85,798,562$114,064,346
X-17 Accounts payable and accrued expensesStart of year $3,885,138$4,041,543
X-19 Deferred revenueStart of year $6,413,570$27,263,844
X-20 Tax-exempt bond liabilitiesStart of year $6,534,996$6,154,996
X-26 Total liabilitiesStart of year $17,291,704$37,908,383
X-27 Net assets without donor restrictionsStart of year $58,813,407$68,554,341
X-28 Net assets with donor restrictionsStart of year $9,693,451$7,601,622
X-32 Total net assets or fund balancesStart of year $68,506,858$76,155,963
X-33 Total liabilities and net assetsStart of year $85,798,562$114,064,346
Part XI · Reconciliation of net assets $76,155,963 net assets at year end
XI-1 Total revenue$37,308,932
XI-2 Total expenses$36,739,521
XI-3 Revenue less expenses$569,411
XI-4 Net assets at start of year$68,506,858
XI-5 Net unrealized gains (losses) on investments$7,079,694
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$76,155,963

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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