Kent Place School FY2020 filing

Tax-deductible

Summit, NJ501(c)(3)Since 1894EducationEIN 22-1487233Revenue $36.5M in FY2020

On file with the IRSkentplace.org42 Norwood Ave, 07901-1913 · Summit, NJTax-exempt since May 1923School — 170(b)(1)(A)(ii)

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501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
$2.0M paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $3.6M a year · 9% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.0M
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $6K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$11.3M
16% of total assets
Looks good: liabilities are 16% of assets; 50% or less.
Pt X · Ln 26
Independent board members
27
of 29 voting members
Looks good: 27 of 29 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$36.5M
Spent
$32.6M
To programs
72%
Net assets
$60.7M
By yearFY2020–FY2025
Revenue
$36.5M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$36.5M
FY2021$35.7M
FY2022$40.1M
FY2023$40.9M
FY2024$44.8M
FY2025$51.6M
Expenses
$32.6M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$32.6M
FY2021$35.9M
FY2022$37.0M
FY2023$39.8M
FY2024$40.8M
FY2025$42.0M
Net assets
$60.7M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$60.7M
FY2021$63.8M
FY2022$63.2M
FY2023$65.8M
FY2024$70.6M
FY2025$80.1M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1923.

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

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $23.5M Management & general 23% · $7.6M Fundraising 5% · $1.5M

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

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Who runs it and what they're paid

36 people listed on the 990; $2.0M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Head of School
$371,298Pt VII · Sec A
Director of Upper School
$282,366Pt VII · Sec A
Chief Financial Officer
$241,371Pt VII · Sec A
Director of Advancement
$209,158Pt VII · Sec A
Director of Ethics Institute
$204,901Pt VII · Sec A
Director of Primary Shcool
$203,216Pt VII · Sec A
Director of College Advising
$198,083Pt VII · Sec A
Director of Studies
$178,365Pt VII · Sec A

Jennifer C Galambos’s $543K as Head of School is at the 91st 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Jennifer C Galambos$543,065$498,419$458,341$437,431$377,494$371,298
Genevieve Madigan Chief Finan—$289,164————
Elizabeth Woodall—————$282,366
Genevieve Madigan——$273,727$275,698$230,746—
Genevieve D Madigan—————$241,371
Coral Brooks$235,624$227,561$210,067$206,963$183,147$209,158
Karen Rezach$224,022$217,945$209,187$223,620$195,259$204,901
Jennifer Simpson$216,936$209,737$201,611$215,223$188,021$198,083

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates students, fostering ethical decision-making, critical thinking, and leadership skills through a comprehensive curriculum.

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Provided by the organization

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1 program · $23.5M · in their own filed words · FY2019
01

Our Kent Place curriculum and programs are rich in opportunities for students to develop ethical decision-making, critical thinking, and problem-solving skills. We promote integrity, initiative, and inclusion throughout all of the schooling years.

$23.5Mprogram expense

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$6K
Grants paid · 11 grants · $24.0M · 2019–2024
Unitemized GrantFY2024$4,671,367
Unitemized GrantFY2024$21,700
Unitemized GrantFY2023$4,234,936
Unitemized GrantFY2023$31,310
Unitemized GrantFY2023$6,917
Unitemized GrantFY2022$3,993,332
Unitemized GrantFY2022$31,210
Unitemized GrantFY2022$21,400
Unitemized GrantFY2021$3,901,070
Unitemized GrantFY2020$3,697,016
Unitemized GrantFY2019$3,425,297

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$36.5M
Ln 12
Fees for servicesLn 2g$29.4M
Gifts and grantsLn 1h$5.9M
Investment incomeLn 3$1.1M
Money outPt IX
$32.6M
Ln 25
Programscol B$23.5M
Managementcol C$7.6M
Fundraisingcol D$1.5M
Owns and owesPt X
$60.7M
net assets · Ln 32
Cash and savingsLn 1–2$5.3M
Total assetsLn 16$72.0M
LiabilitiesLn 26$11.3M
PeoplePt VI, VII
36
listed · VII A
PaidVII A9
Voting boardVI 1a29
IndependentVI 1b27
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.9M
Noncash giftsLn 1g$119K
Fees for servicesLn 2g$29.4M
Investment incomeLn 3$1.1M
Other incomeLn 4–11$256K
Gains on assetsLn 7$549K
Total revenueLn 12$36.5M
Assets in detailPt X, end of year
CashLn 1$5.3M
SavingsLn 2$0
Cash and savings togetherLn 1–2$5.3M
InvestmentsLn 11–13$17.3M
Land, buildings, equipmentLn 10c$44.7M
Other assetsLn 15$0
Total assetsLn 16$72.0M
LiabilitiesLn 26$11.3M
Net assetsLn 32$60.7M
OperationsPt I, VI
EmployeesI 5396
VolunteersI 6500
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 FY20End FY20
Cash and savingsLn 1–2$2.0M$5.3M
InvestmentsLn 11–13$17.9M$17.3M
Land, buildings, equipmentLn 10c$44.9M$44.7M
Total assetsLn 16$67.9M$72.0M
LiabilitiesLn 26$10.1M$11.3M
Net assetsLn 32$57.7M$60.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$3.4M$3.4M
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$1.9M$1.0M$643K$221K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$14.0M$10.0M$3.4M$638K
Pension plan contributionsLn 8$1.0M$731K$239K$35K
Other employee benefitsLn 9$1.8M$1.0M$655K$132K
Payroll taxesLn 10$1.1M$779K$283K$60K
Management feesLn 11a$0
Legal feesLn 11b$158K$158K
Accounting feesLn 11c$65K$65K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$83K$83K
Other fees for servicesLn 11g$180K$67K$3K$110K
Advertising and promotionLn 12$128K$12K$116K
Office expensesLn 13$1.5M$470K$812K$240K
Information technologyLn 14$415K$310K$90K$15K
RoyaltiesLn 15$0
OccupancyLn 16$1.3M$1.1M$148K
TravelLn 17$98K$40K$24K$33K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$223K$138K$76K$9K
InterestLn 20$150K$150K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$2.5M$2.2M$331K
InsuranceLn 23$222K$196K$26K
Other expenses (24a–d)Ln 24$2.2M$1.9M$217K$45K
All other expensesLn 24e$145K$18K$124K$3K
Total functional expensesLn 25$32.6M$23.5M$7.6M$1.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $51.6M$42.0M$9.6M$80.1M 990 PDF
FY2024 $44.8M$40.8M$4.0M$70.6M 990 PDF
FY2023 $40.9M$39.8M$1.1M$65.8M 990 PDF
FY2022 $40.1M$37.0M$3.2M$63.2M 990 PDF
FY2021 $35.7M$35.9M−$204K$63.8M 990 PDF
FY2020 Viewing $36.5M$32.6M$3.9M$60.7M 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 FY2020 990 (6 parts)
Part I · Summary $36,541,046 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,415,824$5,865,616
I-9 Program service revenuePrior year $28,826,854$29,361,096
I-10 Investment incomePrior year $793,443$1,057,945
I-11 Other revenuePrior year $105,163$256,389
I-12 Total revenuePrior year $32,141,284$36,541,046
I-13 Grants and similar amounts paidPrior year $3,280,406$3,425,297
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $19,267,381$19,832,186
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $9,445,033$9,375,598
I-18 Total expensesPrior year $31,992,820$32,633,081
I-19 Revenue less expensesPrior year $148,464$3,907,965
Part VI · Governance 27 of 29 board members independent, no flags
VI-1a Voting members of the governing body29
VI-1b Independent voting members27
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $36,541,046 across 11 lines filed
Lines not itemized here account for −$38,170 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$5,865,616
VIII-1g Noncash contributions (included above)$119,257
VIII-1h Total contributions, gifts and grants$5,865,616
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $29,361,096$29,361,096
VIII-3 Investment incomeExcluded from tax $508,517$508,517
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax $549,428$549,428
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $294,559$294,559
VIII-12 Total revenueRelated to mission $29,617,485 · Excluded from tax $1,057,945$36,541,046
Part IX · Statement of functional expenses $32,633,081 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individualsPrograms $3,425,297$3,425,297
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $1,004,412 · Management $642,763 · Fundraising $221,116$1,868,291
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $10,017,986 · Management $3,364,567 · Fundraising $637,759$14,020,312
IX-8 Pension plan contributionsPrograms $730,772 · Management $239,451 · Fundraising $34,844$1,005,067
IX-9 Other employee benefitsPrograms $1,028,931 · Management $655,370 · Fundraising $131,665$1,815,966
IX-10 Payroll taxesPrograms $779,260 · Management $283,495 · Fundraising $59,795$1,122,550
IX-11a Management fees$0
IX-11b Legal feesManagement $158,263$158,263
IX-11c Accounting feesManagement $65,242$65,242
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management feesManagement $82,662$82,662
IX-11g Other fees for servicesPrograms $67,059 · Management $2,519 · Fundraising $110,284$179,862
IX-12 Advertising and promotionPrograms $11,600 · Management $116,353$127,953
IX-13 Office expensesPrograms $469,827 · Management $812,073 · Fundraising $240,002$1,521,902
IX-14 Information technologyPrograms $309,805 · Management $90,130 · Fundraising $14,604$414,539
IX-15 Royalties$0
IX-16 OccupancyPrograms $1,125,372 · Management $148,074$1,273,446
IX-17 TravelPrograms $39,639 · Management $24,430 · Fundraising $33,467$97,536
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $138,216 · Management $75,774 · Fundraising $8,555$222,545
IX-20 InterestManagement $149,525$149,525
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $2,174,892 · Management $330,860$2,505,752
IX-23 InsurancePrograms $195,685 · Management $26,391$222,076
IX-24 Other expenses (24a–d)Programs $1,946,996 · Management $216,861 · Fundraising $45,304$2,209,161
IX-24e All other expensesPrograms $17,834 · Management $124,478 · Fundraising $2,822$145,134
IX-25 Total functional expensesPrograms $23,483,583 · Management $7,609,281 · Fundraising $1,540,217$32,633,081
Part X · Balance sheet $72,015,575 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $1,987,086$5,297,421
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $1,312,833$3,082,324
X-4 Accounts receivableStart of year $220,498$116,273
X-8 Inventories for sale or useStart of year $158,037$218,616
X-9 Prepaid expenses and deferred chargesStart of year $1,355,183$1,299,403
X-10c Land, buildings and equipment, netStart of year $44,924,587$44,665,319
X-11 Publicly traded securitiesStart of year $16,920,776$16,242,308
X-12 Other securitiesStart of year $986,635$1,093,911
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $67,865,635$72,015,575
X-17 Accounts payable and accrued expensesStart of year $2,301,252$2,040,058
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $3,485,901$2,715,502
X-20 Tax-exempt bond liabilitiesStart of year $4,356,540$4,178,363
X-24 Unsecured notes and loans payableStart of year $0$2,396,179
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $10,143,693$11,330,102
X-27 Net assets without donor restrictionsStart of year $38,433,856$39,915,747
X-28 Net assets with donor restrictionsStart of year $19,288,086$20,769,726
X-32 Total net assets or fund balancesStart of year $57,721,942$60,685,473
X-33 Total liabilities and net assetsStart of year $67,865,635$72,015,575
Part XI · Reconciliation of net assets $60,685,473 net assets at year end
XI-1 Total revenue$36,541,046
XI-2 Total expenses$32,633,081
XI-3 Revenue less expenses$3,907,965
XI-4 Net assets at start of year$57,721,942
XI-5 Net unrealized gains (losses) on investments−$944,434
XI-10 Net assets at end of year$60,685,473

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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