Gulliver Preparatory School INC: Nonprofit Profile, Financials & Form 990 (EIN 65-0900712)

Revenue by fiscal year
FY2020	$88.0M
FY2021	$98.0M
FY2022	$97.5M
FY2023	$113.5M
FY2024	$117.1M
FY2024	$121.3M

Expenses by fiscal year
FY2020	$74.7M
FY2021	$75.9M
FY2022	$82.0M
FY2023	$87.8M
FY2024	$96.2M
FY2024	$104.0M

Net assets by fiscal year
FY2020	$92.7M
FY2021	$121.6M
FY2022	$128.6M
FY2023	$157.1M
FY2024	$181.1M
FY2024	$204.5M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2000.

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

Where the money goes

94 cents of each dollar spent went to programs.

94%

Program services 94% · $98.0M Management & general 5% · $4.8M Fundraising 1% · $1.1M

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

32 people listed on the 990; $3.8M paid to officers and key staff.

Part VII, Section A · reportable compensation

Clifton L Kling

Former President & CEO

$749,394Pt VII · Sec A

Simon Hess

President & CEO

$469,246Pt VII · Sec A

Francis Steel

Head of School

$421,773Pt VII · Sec A

Paul D Zamek

COO

$355,366Pt VII · Sec A

Michele Seid

Cpo

$285,158Pt VII · Sec A

Alejandro E Rodriguez

CTO

$285,017Pt VII · Sec A

Jonathan Schoenwald

Asst Head of School

$283,667Pt VII · Sec A

Dania Duarte

CFO

$273,522Pt VII · Sec A

Clifton L Kling’s $749K as Former President & CEO is at the 63rd percentile of top reported officer pay among 674 $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

Name	FY2024	FY2024	FY2023	FY2022	FY2021	FY2020
Clifton L Kling	$749,394	$658,342	$677,425	$636,216	$599,071	$568,832
Simon Hess	$469,246	—	—	—	—	—
Francis Steel	$421,773	$422,491	$385,583	$380,088	$367,554	$392,285
Charles a Rue	—	—	$231,010	$337,300	$369,335	$316,464
Paul D Zamek	$355,366	$248,294	—	—	—	—
Joseph E Goulart	—	—	—	—	$322,633	$299,487
Jonathan Schoenwald	$283,667	$282,250	$294,140	$290,984	$304,282	$202,284
Melissa Perkins	—	—	$300,314	—	—	—

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

Fosters an academic community focused on educational excellence and personal connection.

Provided by the organization

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1 program · $98.0M · in their own filed words · FY2024

01

Successfully operated a private school which provides educational services to approximately 2,230 students from primary through twelfth grade for an entire school year.

$98.0Mprogram 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 · FY2024

Mightycause Charitable FoundationFY2024$510K

National Philanthropic TrustFY2024$438K

Dennis & Smith FoundationFY2024$200K

Gs Donor Advised Philanthropy Fund for Wealth Management INCFY2024$125K

Havenick Family Foundation INCFY2024$117K

The Miami Foundation INCFY2024$110K

Donor Advised Charitable Giving INCFY2024$106K

Fidelity Investments Charitable Gift FundFY2024$89K

Total grants receivedfrom 16 funders$1.9M

See all 16 funders →

Grants paid · 15 grants · $41.7M · 2019–2024

Unitemized GrantFY2024$6,976,117

Unitemized GrantFY2024$5,218,613

Unitemized GrantFY2024$2,527,641

Breakthrough Miami INCFL · FY2024$150,890

Unitemized GrantFY2023$6,462,355

Unitemized GrantFY2023$4,808,879

Unitemized GrantFY2023$2,362,447

Breakthrough Miami INCFL · FY2023$150,000

Unitemized GrantFY2022$6,231,280

Unitemized GrantFY2022$4,082,566

Unitemized GrantFY2022$2,139,777

Breakthrough Miami INCFL · FY2022$150,000

Breakthrough Miami INCFL · FY2021$152,500

Breakthrough Miami INCFL · FY2020$150,000

Breakthrough Miami INCFL · FY2019$150,000

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$121.3M

Ln 12

Fees for servicesLn 2g$110.9M

Gifts and grantsLn 1h$9.4M

Investment incomeLn 3$2.2M

Money outPt IX

$104.0M

Ln 25

Programscol B$98.0M

Managementcol C$4.8M

Fundraisingcol D$1.1M

Owns and owesPt X

$204.5M

net assets · Ln 32

Cash and savingsLn 1–2$59.0M

Total assetsLn 16$337.3M

LiabilitiesLn 26$132.8M

PeoplePt VI, VII

32

listed · VII A

PaidVII A11

Voting boardVI 1a21

IndependentVI 1b21

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$9.4M

Noncash giftsLn 1g$551K

Fundraising eventsLn 1c$1.7M

Fees for servicesLn 2g$110.9M

Investment incomeLn 3$2.2M

Total revenueLn 12$121.3M

Assets in detailPt X, end of year

CashLn 1$53.9M

SavingsLn 2$5.1M

Cash and savings togetherLn 1–2$59.0M

InvestmentsLn 11–13$69.4M

Land, buildings, equipmentLn 10c$192.3M

Other assetsLn 15$515K

Total assetsLn 16$337.3M

LiabilitiesLn 26$132.8M

Net assetsLn 32$204.5M

OperationsPt I, VI

EmployeesI 5765

VolunteersI 60

Fiscal year endsHeaderDecember

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

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$46.1M	$59.0M
InvestmentsLn 11–13	$61.7M	$69.4M
Land, buildings, equipmentLn 10c	$183.6M	$192.3M
Total assetsLn 16	$306.5M	$337.3M
LiabilitiesLn 26	$125.4M	$132.8M
Net assetsLn 32	$181.1M	$204.5M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$151K	$151K
Grants to domestic individualsLn 2	$14.7M	$14.7M
Pay of current officers, directors and key staffLn 5	$2.2M		$2.2M
Other salaries and wagesLn 7	$41.4M	$40.3M	$200K	$921K
Other employee benefitsLn 9	$7.2M	$6.3M	$785K	$126K
Payroll taxesLn 10	$3.1M	$2.9M	$130K	$68K
Other fees for servicesLn 11g	$1.1M	$536K	$535K
Advertising and promotionLn 12	$450K		$450K
Information technologyLn 14	$1.5M	$1.5M
InterestLn 20	$1.9M	$1.9M
Depreciation, depletion and amortizationLn 22	$7.9M	$7.9M
InsuranceLn 23	$3.0M	$3.0M
Other expenses (24a–d)Ln 24	$19.0M	$18.9M	$101K	$8K
All other expensesLn 24e	$481K	$29K	$427K	$26K
Total functional expensesLn 25	$104.0M	$98.0M	$4.8M	$1.1M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024	$117.1M	$96.2M	$20.9M	$181.1M	990 PDF
FY2023	$113.5M	$87.8M	$25.8M	$157.1M	990 PDF
FY2022	$97.5M	$82.0M	$15.5M	$128.6M	990 PDF
FY2021	$98.0M	$75.9M	$22.2M	$121.6M	990 PDF
FY2020	$88.0M	$74.7M	$13.3M	$92.7M	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 FY2024 990 (6 parts)

Part I · Summary $121,284,182 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $9,361,168$9,401,439

I-9 Program service revenuePrior year $103,026,340$110,907,863

I-10 Investment incomePrior year $5,678,911$2,197,935

I-11 Other revenuePrior year −$641,195−$1,223,055

I-12 Total revenuePrior year $117,425,224$121,284,182

I-13 Grants and similar amounts paidPrior year $13,783,681$14,873,261

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $51,722,126$53,897,554

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $31,018,110$35,230,606

I-18 Total expensesPrior year $96,523,917$104,001,421

I-19 Revenue less expensesPrior year $20,901,307$17,282,761

Part VI · Governance 21 of 21 board members independent, no flags

VI-1a Voting members of the governing body21

VI-1b Independent voting members21

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 $121,284,182 across 8 lines filed

Lines not itemized here account for −$2,275 of total revenue; see the IRS return.

VIII-1c Fundraising events$1,670,375

VIII-1f All other contributions, gifts and grants$7,731,064

VIII-1g Noncash contributions (included above)$550,898

VIII-1h Total contributions, gifts and grants$9,401,439

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $110,907,863$110,907,863

VIII-3 Investment incomeExcluded from tax $2,197,935$2,197,935

VIII-8 Net income from fundraising eventsExcluded from tax −$1,220,780−$1,220,780

VIII-12 Total revenueRelated to mission $110,905,588 · Unrelated business $0 · Excluded from tax $977,155$121,284,182

Part IX · Statement of functional expenses $104,001,421 across 14 lines filed

IX-1 Grants to domestic organizationsPrograms $150,890$150,890

IX-2 Grants to domestic individualsPrograms $14,722,371$14,722,371

IX-5 Pay of current officers, directors and key staffManagement $2,178,586$2,178,586

IX-7 Other salaries and wagesPrograms $40,309,960 · Management $200,184 · Fundraising $920,559$41,430,703

IX-9 Other employee benefitsPrograms $6,282,653 · Management $784,614 · Fundraising $126,380$7,193,647

IX-10 Payroll taxesPrograms $2,896,978 · Management $129,973 · Fundraising $67,667$3,094,618

IX-11g Other fees for servicesPrograms $536,024 · Management $535,413$1,071,437

IX-12 Advertising and promotionManagement $450,175$450,175

IX-14 Information technologyPrograms $1,507,052$1,507,052

IX-20 InterestPrograms $1,874,440$1,874,440

IX-22 Depreciation, depletion and amortizationPrograms $7,853,752$7,853,752

IX-23 InsurancePrograms $3,023,770$3,023,770

IX-24 Other expenses (24a–d)Programs $18,859,671 · Management $101,012 · Fundraising $8,052$18,968,735

IX-24e All other expensesPrograms $28,514 · Management $426,848 · Fundraising $25,883$481,245

IX-25 Total functional expensesPrograms $98,046,075 · Management $4,806,805 · Fundraising $1,148,541$104,001,421

Part X · Balance sheet $337,265,521 assets, 20 lines filed

X-1 Cash, non-interest-bearingStart of year $25,775,572$53,868,704

X-2 Savings and temporary cash investmentsStart of year $20,310,202$5,129,771

X-3 Pledges and grants receivableStart of year $7,879,294$9,380,826

X-4 Accounts receivableStart of year $16,653$154,335

X-8 Inventories for sale or useStart of year $71,875$81,717

X-9 Prepaid expenses and deferred chargesStart of year $2,604,943$2,383,902

X-10c Land, buildings and equipment, netStart of year $183,618,905$192,340,797

X-11 Publicly traded securitiesStart of year $61,718,944$69,445,681

X-14 Intangible assetsStart of year $3,964,907$3,964,907

X-15 Other assetsStart of year $508,447$514,881

X-16 Total assetsStart of year $306,469,742$337,265,521

X-17 Accounts payable and accrued expensesStart of year $8,669,421$9,244,959

X-19 Deferred revenueStart of year $57,820,705$66,071,470

X-20 Tax-exempt bond liabilitiesStart of year $58,591,397$57,332,278

X-25 Other liabilitiesStart of year $337,033$105,015

X-26 Total liabilitiesStart of year $125,418,556$132,753,722

X-27 Net assets without donor restrictionsStart of year $169,990,596$190,378,344

X-28 Net assets with donor restrictionsStart of year $11,060,590$14,133,455

X-32 Total net assets or fund balancesStart of year $181,051,186$204,511,799

X-33 Total liabilities and net assetsStart of year $306,469,742$337,265,521

Part XI · Reconciliation of net assets $204,511,799 net assets at year end

XI-1 Total revenue$121,284,182

XI-2 Total expenses$104,001,421

XI-3 Revenue less expenses$17,282,761

XI-4 Net assets at start of year$181,051,186

XI-5 Net unrealized gains (losses) on investments$6,177,852

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$204,511,799

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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