Kent Place School FY2021 filing

Tax-deductible

Summit, NJ501(c)(3)Since 1894EducationEIN 22-1487233Revenue $35.7M in FY2021

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.
69¢ of each $1 spent went to programs.
$1.6M paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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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
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
69%
of spending
Fine: 69% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.6M
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
2 mo
of spending, in cash
Fine: 1.5 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
$10.4M
14% of total assets
Looks good: liabilities are 14% of assets; 50% or less.
Pt X · Ln 26
Independent board members
26
of 28 voting members
Looks good: 26 of 28 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$35.7M
-2% vs prior year
Spent
$35.9M
To programs
69%
Net assets
$63.8M
By yearFY2020–FY2025
Revenue
$35.7M
FY2021▼ -2%
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
$35.9M
FY2021▲ +10%
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
$63.8M
FY2021▲ +5%
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 FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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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

69 cents of each dollar spent went to programs.

Program services 69% · $24.6M Management & general 27% · $9.7M Fundraising 4% · $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

34 people listed on the 990; $1.6M 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
$377,494Pt VII · Sec A
Chief Financial Officer
$230,746Pt VII · Sec A
Director of the Ethics Inst.
$195,259Pt VII · Sec A
Director of College Advising
$188,021Pt VII · Sec A
Asst. Head of School for Teach
$187,331Pt VII · Sec A
Director of Advancement
$183,147Pt VII · Sec A
Hd of Sch for Enrollment & Str
$178,573Pt VII · Sec A
$91,442Pt 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 · $24.6M · in their own filed words · FY2020
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.

$24.6Mprogram 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 FY2021 990, line by line.

1The main four
Money inPt VIII
$35.7M
Ln 12
Fees for servicesLn 2g$29.8M
Gifts and grantsLn 1h$4.9M
Investment incomeLn 3$915K
Money outPt IX
$35.9M
Ln 25
Programscol B$24.6M
Managementcol C$9.7M
Fundraisingcol D$1.5M
Owns and owesPt X
$63.8M
net assets · Ln 32
Cash and savingsLn 1–2$4.5M
Total assetsLn 16$74.2M
LiabilitiesLn 26$10.4M
PeoplePt VI, VII
34
listed · VII A
PaidVII A8
Voting boardVI 1a28
IndependentVI 1b26
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.9M
Government grantsLn 1e$1.9M
Noncash giftsLn 1g$124K
Fees for servicesLn 2g$29.8M
Investment incomeLn 3$915K
Gains on assetsLn 7$356K
Total revenueLn 12$35.7M
Assets in detailPt X, end of year
CashLn 1$4.5M
SavingsLn 2$0
Cash and savings togetherLn 1–2$4.5M
InvestmentsLn 11–13$22.4M
Land, buildings, equipmentLn 10c$42.8M
Other assetsLn 15$0
Total assetsLn 16$74.2M
LiabilitiesLn 26$10.4M
Net assetsLn 32$63.8M
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 FY21End FY21
Cash and savingsLn 1–2$5.3M$4.5M
InvestmentsLn 11–13$17.3M$22.4M
Land, buildings, equipmentLn 10c$44.7M$42.8M
Total assetsLn 16$72.0M$74.2M
LiabilitiesLn 26$11.3M$10.4M
Net assetsLn 32$60.7M$63.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$3.7M$3.7M
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$2.1M$872K$967K$256K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$14.7M$10.7M$3.3M$717K
Pension plan contributionsLn 8$1.0M$765K$248K$37K
Other employee benefitsLn 9$2.5M$1.1M$1.3M$143K
Payroll taxesLn 10$1.2M$824K$304K$67K
Management feesLn 11a$0
Legal feesLn 11b$205K$205K
Accounting feesLn 11c$48K$48K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$88K$88K
Other fees for servicesLn 11g$267K$167K$68K$32K
Advertising and promotionLn 12$95K$9K$87K
Office expensesLn 13$2.0M$371K$1.4M$190K
Information technologyLn 14$974K$681K$243K$50K
RoyaltiesLn 15$0
OccupancyLn 16$1.4M$1.2M$229K
TravelLn 17$28K$13K$9K$7K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$175K$89K$80K$6K
InterestLn 20$136K$136K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$2.5M$2.1M$324K
InsuranceLn 23$266K$235K$32K
Other expenses (24a–d)Ln 24$1.9M$1.8M$113K$33K
All other expensesLn 24e$486K$15K$468K$3K
Total functional expensesLn 25$35.9M$24.6M$9.7M$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 Viewing $35.7M$35.9M−$204K$63.8M 990 PDF
FY2020 $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 FY2021 990 (6 parts)
Part I · Summary $35,657,548 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,865,616$4,919,244
I-9 Program service revenuePrior year $29,361,096$29,827,186
I-10 Investment incomePrior year $1,057,945$915,396
I-11 Other revenuePrior year $256,389−$4,278
I-12 Total revenuePrior year $36,541,046$35,657,548
I-13 Grants and similar amounts paidPrior year $3,425,297$3,697,016
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $19,832,186$21,612,188
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $9,375,598$10,551,907
I-18 Total expensesPrior year $32,633,081$35,861,111
I-19 Revenue less expensesPrior year $3,907,965−$203,563
Part VI · Governance 26 of 28 board members independent, no flags
VI-1a Voting members of the governing body28
VI-1b Independent voting members26
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 $35,657,548 across 12 lines filed
Lines not itemized here account for −$20,999 of total revenue; see the IRS return.
VIII-1e Government grants$1,937,000
VIII-1f All other contributions, gifts and grants$2,982,244
VIII-1g Noncash contributions (included above)$123,841
VIII-1h Total contributions, gifts and grants$4,919,244
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $29,827,186$29,827,186
VIII-3 Investment incomeExcluded from tax $559,039$559,039
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax $356,357$356,357
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $16,721$16,721
VIII-12 Total revenueRelated to mission $29,822,908 · Excluded from tax $915,396$35,657,548
Part IX · Statement of functional expenses $35,861,111 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individualsPrograms $3,697,016$3,697,016
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 $871,822 · Management $966,983 · Fundraising $256,004$2,094,809
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $10,665,382 · Management $3,340,870 · Fundraising $717,238$14,723,490
IX-8 Pension plan contributionsPrograms $764,571 · Management $247,883 · Fundraising $37,046$1,049,500
IX-9 Other employee benefitsPrograms $1,106,881 · Management $1,299,030 · Fundraising $143,330$2,549,241
IX-10 Payroll taxesPrograms $823,842 · Management $304,164 · Fundraising $67,142$1,195,148
IX-11a Management fees$0
IX-11b Legal feesManagement $205,179$205,179
IX-11c Accounting feesManagement $47,690$47,690
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management feesManagement $87,921$87,921
IX-11g Other fees for servicesPrograms $167,467 · Management $67,572 · Fundraising $32,163$267,202
IX-12 Advertising and promotionPrograms $8,595 · Management $86,513$95,108
IX-13 Office expensesPrograms $370,950 · Management $1,443,830 · Fundraising $189,720$2,004,500
IX-14 Information technologyPrograms $681,357 · Management $243,064 · Fundraising $49,826$974,247
IX-15 Royalties$0
IX-16 OccupancyPrograms $1,163,808 · Management $229,264$1,393,072
IX-17 TravelPrograms $12,905 · Management $8,648 · Fundraising $6,523$28,076
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $88,971 · Management $80,347 · Fundraising $6,005$175,323
IX-20 InterestManagement $136,160$136,160
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $2,129,585 · Management $323,967$2,453,552
IX-23 InsurancePrograms $234,552 · Management $31,632$266,184
IX-24 Other expenses (24a–d)Programs $1,785,274 · Management $113,426 · Fundraising $33,307$1,932,007
IX-24e All other expensesPrograms $14,564 · Management $467,896 · Fundraising $3,226$485,686
IX-25 Total functional expensesPrograms $24,587,542 · Management $9,732,039 · Fundraising $1,541,530$35,861,111
Part X · Balance sheet $74,166,254 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $5,297,421$4,499,114
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $3,082,324$2,150,884
X-4 Accounts receivableStart of year $116,273$480,756
X-8 Inventories for sale or useStart of year $218,616$161,334
X-9 Prepaid expenses and deferred chargesStart of year $1,299,403$1,736,174
X-10c Land, buildings and equipment, netStart of year $44,665,319$42,770,039
X-11 Publicly traded securitiesStart of year $16,242,308$20,494,900
X-12 Other securitiesStart of year $1,093,911$1,873,053
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 $72,015,575$74,166,254
X-17 Accounts payable and accrued expensesStart of year $2,040,058$2,864,538
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $2,715,502$3,494,810
X-20 Tax-exempt bond liabilitiesStart of year $4,178,363$4,000,186
X-24 Unsecured notes and loans payableStart of year $2,396,179$0
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $11,330,102$10,359,534
X-27 Net assets without donor restrictionsStart of year $39,915,747$40,459,985
X-28 Net assets with donor restrictionsStart of year $20,769,726$23,346,735
X-32 Total net assets or fund balancesStart of year $60,685,473$63,806,720
X-33 Total liabilities and net assetsStart of year $72,015,575$74,166,254
Part XI · Reconciliation of net assets $63,806,720 net assets at year end
XI-1 Total revenue$35,657,548
XI-2 Total expenses$35,861,111
XI-3 Revenue less expenses−$203,563
XI-4 Net assets at start of year$60,685,473
XI-5 Net unrealized gains (losses) on investments$3,324,810
XI-10 Net assets at end of year$63,806,720

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

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