Prairie School INC FY2021 filing

Tax-deductible

Racine, WI501(c)(3)Since 1964EducationEIN 39-6074931Revenue $22.9M in FY2021

On file with the IRSprairieschool.com4050 Lighthouse Dr, 53402-3114 · Racine, WITax-exempt since Sep 1964School — 170(b)(1)(A)(ii)

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K-12 education in a private School setting

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
$449K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · 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
6 of 6
filings with a surplus
Average surplus $3.4M a year · 16% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$449K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $20K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.2M
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$22.9M
+22% vs prior year
Spent
$15.6M
To programs
81%
Net assets
$80.6M
By yearFY2020–FY2025
Revenue
$22.9M
FY2021▲ +22%
Tap a bar for its year
Revenue by fiscal year
FY2020$18.8M
FY2021$22.9M
FY2022$20.7M
FY2023$18.6M
FY2024$19.9M
FY2025$23.9M
Expenses
$15.6M
FY2021▼ -4%
Tap a bar for its year
Expenses by fiscal year
FY2020$16.3M
FY2021$15.6M
FY2022$16.4M
FY2023$17.8M
FY2024$18.8M
FY2025$19.6M
Net assets
$80.6M
FY2021▲ +20%
Tap a bar for its year
Net assets by fiscal year
FY2020$67.5M
FY2021$80.6M
FY2022$73.5M
FY2023$76.8M
FY2024$82.5M
FY2025$86.1M

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 (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1964.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $12.6M Management & general 17% · $2.7M Fundraising 2% · $290K

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

20 people listed on the 990; $449K 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
President/Head of School
$304,466Pt VII · Sec A
Asst. Secretary/Treasurer
$144,589Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Nathaniel Coffman’s $401K as President/Head of School is at the 80th 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 · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Nathaniel Coffman$401,463$372,372$342,052$321,438——
Nathan Coffman————$304,466—
Nat Coffman—————$289,414
Steven Joost$183,602$170,372$166,390$152,999$144,589$140,106

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

Provides K-12 education in a private school setting.

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Provided by the organization

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2 programs · $12.6M · in their own filed words · FY2020
01

Instructional and related activities improving and developing children. 600 students were enrolled in the school during the current reporting period.

$10.3Mprogram expense
02

Building operation and maintenance of facilities to provide a place forstudents enrolled to attend educational activities on a regular basis.

$2.2Mprogram 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$20K
Grants paid · 6 grants · $18.5M · 2019–2024
Unitemized GrantFY2024$3,306,661
Unitemized GrantFY2023$3,276,839
Unitemized GrantFY2022$3,116,208
Unitemized GrantFY2021$2,970,935
Unitemized GrantFY2020$2,981,080
Unitemized GrantFY2019$2,849,969

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$22.9M
Ln 12
Fees for servicesLn 2g$11.6M
Gifts and grantsLn 1h$5.7M
Investment incomeLn 3$5.4M
Money outPt IX
$15.6M
Ln 25
Programscol B$12.6M
Managementcol C$2.7M
Fundraisingcol D$290K
Owns and owesPt X
$80.6M
net assets · Ln 32
Cash and savingsLn 1–2$2.7M
Total assetsLn 16$82.9M
LiabilitiesLn 26$2.2M
PeoplePt VI, VII
20
listed · VII A
PaidVII A2
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.7M
Government grantsLn 1e$1.7M
Noncash giftsLn 1g$83K
Fundraising eventsLn 1c$128K
Fees for servicesLn 2g$11.6M
Investment incomeLn 3$5.4M
Other incomeLn 4–11$192K
Gains on assetsLn 7$3.6M
Total revenueLn 12$22.9M
Assets in detailPt X, end of year
CashLn 1$2.7M
Cash and savings togetherLn 1–2$2.7M
InvestmentsLn 11–13$53.4M
Land, buildings, equipmentLn 10c$19.2M
Other assetsLn 15$6.6M
Total assetsLn 16$82.9M
LiabilitiesLn 26$2.2M
Net assetsLn 32$80.6M
OperationsPt I, VI
EmployeesI 5229
VolunteersI 6100
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$2.5M$2.7M
InvestmentsLn 11–13$41.8M$53.4M
Land, buildings, equipmentLn 10c$16.0M$19.2M
Total assetsLn 16$71.6M$82.9M
LiabilitiesLn 26$4.2M$2.2M
Net assetsLn 32$67.5M$80.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$3.0M$3.0M
Pay of current officers, directors and key staffLn 5$519K$400K$104K$16K
Other salaries and wagesLn 7$6.0M$4.7M$1.1M$201K
Pension plan contributionsLn 8$450K$324K$126K
Other employee benefitsLn 9$1.1M$771K$285K
Payroll taxesLn 10$494K$344K$150K
Investment management feesLn 11f$276K$276K
Other fees for servicesLn 11g$112K$112K
Office expensesLn 13$84K$30K$54K
OccupancyLn 16$553K$543K$9K
TravelLn 17$4K$4K
InterestLn 20$24K$24K
Depreciation, depletion and amortizationLn 22$1.1M$1.1M
InsuranceLn 23$144K$144K
Other expenses (24a–d)Ln 24$998K$834K$163K
All other expensesLn 24e$769K$509K$186K$74K
Total functional expensesLn 25$15.6M$12.6M$2.7M$290K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $23.9M$19.6M$4.3M$86.1M 990 PDF
FY2024 $19.9M$18.8M$1.1M$82.5M 990 PDF
FY2023 $18.6M$17.8M$745K$76.8M 990 PDF
FY2022 $20.7M$16.4M$4.3M$73.5M 990 PDF
FY2021 Viewing $22.9M$15.6M$7.4M$80.6M 990 PDF
FY2020 $18.8M$16.3M$2.5M$67.5M 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 (6 parts)
Part I · Summary $22,940,374 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,928,752$5,729,250
I-9 Program service revenuePrior year $11,702,792$11,579,640
I-10 Investment incomePrior year $1,856,610$5,439,804
I-11 Other revenuePrior year $300,173$191,680
I-12 Total revenuePrior year $18,788,327$22,940,374
I-13 Grants and similar amounts paidPrior year $2,849,969$2,981,080
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $8,637,417$8,517,123
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $4,771,653$4,085,980
I-18 Total expensesPrior year $16,259,039$15,584,183
I-19 Revenue less expensesPrior year $2,529,288$7,356,191
Part VI · Governance 18 of 18 board members independent, no flags
VI-1a Voting members of the governing body18
VI-1b Independent voting members18
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 $22,940,374 across 11 lines filed
VIII-1c Fundraising events$128,208
VIII-1e Government grants$1,701,900
VIII-1f All other contributions, gifts and grants$3,899,142
VIII-1g Noncash contributions (included above)$82,752
VIII-1h Total contributions, gifts and grants$5,729,250
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $11,579,640$11,579,640
VIII-3 Investment incomeExcluded from tax $1,798,013$1,798,013
VIII-7 Net gain or loss on sales of assetsExcluded from tax $3,641,791$3,641,791
VIII-8 Net income from fundraising eventsExcluded from tax $159,567$159,567
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $32,113$32,113
VIII-12 Total revenueRelated to mission $11,611,753 · Unrelated business $0 · Excluded from tax $5,599,371$22,940,374
Part IX · Statement of functional expenses $15,584,183 across 16 lines filed
IX-2 Grants to domestic individualsPrograms $2,981,080$2,981,080
IX-5 Pay of current officers, directors and key staffPrograms $399,861 · Management $103,860 · Fundraising $15,579$519,300
IX-7 Other salaries and wagesPrograms $4,709,999 · Management $1,087,631 · Fundraising $200,621$5,998,251
IX-8 Pension plan contributionsPrograms $324,368 · Management $125,554$449,922
IX-9 Other employee benefitsPrograms $771,207 · Management $284,562$1,055,769
IX-10 Payroll taxesPrograms $343,539 · Management $150,342$493,881
IX-11f Investment management feesManagement $275,541$275,541
IX-11g Other fees for servicesManagement $111,841$111,841
IX-13 Office expensesPrograms $29,616 · Management $54,162$83,778
IX-16 OccupancyPrograms $543,392 · Management $9,191$552,583
IX-17 TravelManagement $4,392$4,392
IX-20 InterestManagement $23,562$23,562
IX-22 Depreciation, depletion and amortizationPrograms $1,123,626$1,123,626
IX-23 InsuranceManagement $144,265$144,265
IX-24 Other expenses (24a–d)Programs $834,492 · Management $163,261$997,753
IX-24e All other expensesPrograms $508,825 · Management $186,111 · Fundraising $73,703$768,639
IX-25 Total functional expensesPrograms $12,570,005 · Management $2,724,275 · Fundraising $289,903$15,584,183
Part X · Balance sheet $82,853,584 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $2,478,183$2,678,849
X-3 Pledges and grants receivableStart of year $4,498,752$898,779
X-4 Accounts receivableStart of year $215,202$128,668
X-9 Prepaid expenses and deferred chargesStart of year $13,086$8,573
X-10c Land, buildings and equipment, netStart of year $15,984,519$19,187,082
X-11 Publicly traded securitiesStart of year $41,508,716$53,059,079
X-12 Other securitiesStart of year $339,532$339,532
X-15 Other assetsStart of year $6,593,734$6,553,022
X-16 Total assetsStart of year $71,631,724$82,853,584
X-17 Accounts payable and accrued expensesStart of year $1,152,188$966,495
X-19 Deferred revenueStart of year $531,331$778,292
X-25 Other liabilitiesStart of year $2,183,359$468,006
X-26 Total liabilitiesStart of year $4,156,428$2,212,793
X-27 Net assets without donor restrictionsStart of year $22,001,112$29,812,453
X-28 Net assets with donor restrictionsStart of year $45,474,184$50,828,338
X-32 Total net assets or fund balancesStart of year $67,475,296$80,640,791
X-33 Total liabilities and net assetsStart of year $71,631,724$82,853,584
Part XI · Reconciliation of net assets $80,640,791 net assets at year end
XI-1 Total revenue$22,940,374
XI-2 Total expenses$15,584,183
XI-3 Revenue less expenses$7,356,191
XI-4 Net assets at start of year$67,475,296
XI-5 Net unrealized gains (losses) on investments$5,799,034
XI-6 Donated services and use of facilities$10,270
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$80,640,791

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

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