Lovett School in Atlanta, Georgia (GA)

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Lovett School
Employer Identification Number (EIN)580619038
Name of OrganizationLovett School
Address4075 Paces Ferry Road Ne, Atlanta, GA 30327
ActivitiesPrivate school, School, college, trade school, etc.
SubsectionEducational Organization
Ruling Date10/1937
DeductibilityContributions are deductible
FoundationSchool
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2013
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$198,084,931
Amount of Income$66,859,638
Form 990 Revenue Amount$52,247,777
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Elementary, Secondary Education, K - 12


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Amount of income in 2013: $66,859,638
This organization: 

 $66,859,638
Other organizations performing similar types of work: 

 $11,570,202

Assets in 2013: $198,084,931
This organization: 

 $198,084,931
Other organizations performing similar types of work: 

 $20,182,458

Expenses in 2013: $49,518,284
This organization: 

 $49,518,284
Other organizations performing similar types of work: 

 $10,663,440

Income to expenses ratio in 2013: 1.4
This organization: 

 1.4
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2007: 82.2%
This organization: 

 82.2%
Other organizations performing similar types of work: 

 79.8%

Number of employees in 2013: 873
Lovett School: 

 873
Other organizations performing similar types of work: 

 188

Employees paid over $100,000 in 2013: 2.3%
Lovett School: 

 2.3%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 25.0%
Lovett School: 

 25.0%
Other organizations performing similar types of work: 

 12.8%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?YesYes
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoYes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?YesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?YesYes
Did the organization maintain an office, employees, or agents outside of the United States?YesYes
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?YesYes
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?YesYes
Did the organization report more than $15,000 of gross income from gaming activities?NoYes
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?YesYes
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?YesYes
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?YesYes
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?YesYes
Did the organization receive more than $25,000 in non-cash contributions?YesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?NoNo
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 10965261
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return843873
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNo
Has it filed a Form 990-T for this year?NoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?YesYes
Did the organization notify the donor of the value of the goods or services provided?YesYes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$1,306,706$1,309,465
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$347,618$329,878
Total number of individuals who received more than $100,000 of reportable compensation from the organization1618
Total number of independent contractors who received more than $100,000 of compensation from the organization52
Statement of Revenue
201120122013
Total revenue$43,969,196$45,105,130$52,247,777
Contributions, Gifts, Grants and Other Similar Amounts$7,838,334$7,438,340$13,066,445
Program Service Revenue$34,232,225$35,753,507$37,921,482
Elementary and Secondary Schools $32,677,550$34,383,675
Elementary and Secondary Schools $1,620,757$1,775,509
Elementary and Secondary Schools $1,324,661$1,577,640
Elementary and Secondary Schools $130,539$184,658
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$1,595,978$1,417,335$992,320
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$-67,381$13,874$6,078
Gross rents (Real / Personal)$103,827 / $0$122,800 / $0$119,940 / $0
Less: rental expenses (Real / Personal)$171,208 / $0$108,926 / $0$113,862 / $0
Rental income or (loss) (Real / Personal)$-67,381 / $0$13,874 / $0$6,078 / $0
Net gain/loss from sales of assets other than inventory$-2,087$92,307$-305,330
Gross amount from sales of assets other than inventory (Securities / Other)$0 / $0$92,307 / $0$11,788,457 / $372,320
Less: cost or other basis and sales expenses (Securities / Other)$0 / $2,087$0 / $0$11,809,639 / $656,468
Gain or (loss) (Securities / Other)$0 / $-2,087$92,307 / $0$-21,182 / $-284,148
Net income/loss from fundraising events$-20,935$-25,962$289,754
Gross income from fundraising events$264,466$237,899$643,959
Less: direct expenses$285,401$263,861$354,205
Net income/loss from gaming activities$7,990$2,395$35,450
Gross income from gaming activities$7,990$2,395$35,550
Less: direct expenses$0$0$100
Net income/loss from sales of inventory$235,970$261,057$82,726
Gross sales of inventory, less returns and allowances$1,754,982$1,685,434$1,760,313
Less: cost of goods sold$1,519,012$1,424,377$1,677,587
Miscellaneous Revenue$149,102$152,277$158,852
Elementary and Secondary Schools $87,327$92,667
Elementary and Secondary Schools $64,950$66,185
All other revenue$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$45,805,387$47,225,915$49,518,284
Grants and other assistance to domestic organizations and domestic governments$0$0
Grants and other assistance to domestic individuals$2,581,387$2,758,063
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$690,088$775,803$746,510
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$21,221,923$21,681,727$22,771,829
Pension plan accruals and contributions$1,723,015$2,122,180
Other employee benefits$3,375,195$3,327,362
Payroll taxes$1,577,316$1,616,931$1,690,888
Fees for services (non-employees)
Management$0$0
Legal$34,994$142,428
Accounting$46,828$62,125
Lobbying$0$0
Professional fundraising services$0$0$0
Investment management fees$84,216$79,478
Other$826,491$381,049
Advertising and promotion$103,998$168,764
Office expenses$2,153,185$2,317,134
Information technology$1,053,916$1,173,214
Royalties$0$0
Occupancy$1,333,696$1,291,652
Travel$212,965$199,772
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$158,067$161,102
Interest$1,144,108$1,381,461
Payments to affiliates$0$0
Depreciation, depletion, and amortization$6,323,767$6,370,885
Insurance$410,619$434,691
Other expenses$1,035,823$1,233,043
Other expenses$223,583$365,057
Other expenses$132,424$144,762
Other expenses$120,126$104,140
Other expenses$73,051$90,695
Balance Sheet
201120122013
Total assets$198,538,931$192,693,845$198,084,931
Cash - non-interest-bearing$1,740$1,740
Savings and temporary cash investments$8,401,072$14,058,777
Pledges and grants receivable, net$11,285,449$12,008,923
Accounts receivable, net$313,686$415,309
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$38,899$23,195
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$31,351$580,148
Inventories for sale or use$260,458$231,569
Prepaid expenses and deferred charges$778,486$697,423
Land, buildings, and equipment: cost or other basis$100,317,649$95,225,187
Investments - publicly traded securities$67,419,380$40,184,853
Investments - other securities$1,306,933$34,657,807
Investments - program-related$0$0
Intangible assets$0$0
Other assets$2,538,742$0
Total liabilities$59,092,934$61,500,109$55,994,808
Accounts payable and accrued expenses$8,168,527$2,710,174
Grants payable$0$0
Deferred revenue$9,345,200$8,802,404
Tax-exempt bond liabilities$38,500,000$36,500,000$34,500,000
Escrow or custodial account liability$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$7,486,382$9,982,230
Total net assets or fund balances$139,445,997$131,193,736$142,090,123
Unrestricted net assets$88,971,159$93,177,403
Temporarily restricted net assets$15,589,476$20,010,792
Permanently restricted net assets$26,633,101$28,901,928
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:A school described in section 170(b)(1)(A)(ii)
Number of organizations supported0
Sum of amounts of support$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$43,495,942$34,829,903$32,170,394$27,738,090$34,848,142$37,578,148$40,990,065$60,501,267
Contributions, gifts, grants, and similar amounts received$26,938,628$13,846,396$8,488,150$4,515,921$6,530,225$7,160,424$4,525,442$30,258,425
Contributions to donor advised funds$0$0
Direct public support$26,938,628$13,846,396$8,488,150$4,515,921$6,530,225$7,160,424$4,525,442$30,258,425
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$16,212,010$19,046,580$20,120,731$21,512,526$23,499,378$24,887,489$26,650,479$27,743,033
Membership dues and assessments$0$0$0$0$0$0$0$84,165
Interest on savings and temporary cash investments$483,975$456,056$286,058$376,539$481,748$407,746$423,389$418,934
Dividends and interest from securities$775,616$1,428,181$1,497,556$928,421$1,030,516$1,304,494$1,494,525$1,439,150
Net rental income or (loss)$-427$-34,105$52,932$35,164$27,841$41,355$49,378$37,619
Gross rents$45,812$45,600$93,313$95,050$103,540$105,070$167,171$146,387
Less: rental expenses$46,239$79,705$40,381$59,886$75,699$63,715$117,793$108,768
Other investment income$-21,102$881,893$0$0$2,745,191$3,254,315$7,266,456$0
Gain or (loss) from sales of assets other than inventory$-3,920,971$-2,248,444$-126,797$-141,358$0$0$0$0
Gross amount from sales of assets other than inventory$9,862,733$26,290,918$33,392,056$16,856,270$0$0$0$0
Less: cost or other basis and sales expenses$13,783,704$28,539,362$33,518,853$16,997,628$0$0$0$0
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$83,455
Gross revenue$0$0$0$0$0$0$0$244,623
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$161,168
Gross profit or (loss) from sales of inventory$0$0$0$344,070$313,017$251,679$358,218$227,374
Gross sales of inventory, less returns and allowances$0$0$0$1,692,988$1,815,523$1,926,122$1,964,274$1,850,498
Less: cost of goods sold$0$0$0$1,348,918$1,502,506$1,674,443$1,606,056$1,623,124
Other revenue$3,028,213$1,453,346$1,851,764$166,807$220,226$270,646$222,178$209,112
Total expenses$24,152,160$26,917,240$28,553,737$28,331,529$30,358,503$32,596,092$33,884,960$36,059,029
Program services$19,622,916$22,698,998$21,973,576$15,397,432$16,508,284$17,772,480$28,211,234$29,648,809
Management and general$3,525,249$3,012,833$4,238,643$11,895,480$12,730,096$13,646,375$4,164,476$4,571,467
Fundraising$1,003,995$1,205,409$2,341,518$1,038,617$1,120,123$1,177,237$1,509,250$1,838,753
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$78,156,778$83,929,983$86,416,198$91,447,798$95,760,289$101,529,603$108,457,661$127,202,698
Excess or (deficit) for the year$19,343,782$7,912,663$3,616,657$-593,439$4,489,639$4,982,056$7,105,105$24,442,238
Net assets or fund balances at beginning of year$58,590,048$78,156,778$83,929,983$86,416,198$91,447,798$95,760,289$101,529,603$108,457,661
Other changes in net assets or fund balances$222,948$-2,139,458$-1,130,442$5,625,039$-177,148$787,258$-177,047$-5,697,201
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$36,059,029$29,648,809$4,571,467$1,838,753
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$559,356$0$559,356$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$18,865,626$16,654,337$1,421,054$790,235
Pension plan contributions not included above$1,363,305$1,235,979$68,680$58,646
Employee benefits not included above$1,989,392$1,769,959$135,450$83,983
Payroll taxes$1,420,710$1,190,260$175,217$55,233
Professional fundraising fees$0$0$0$0
Accounting fees$55,240$0$55,240$0
Legal fees$39,426$1,500$37,926$0
Supplies$1,876,526$1,716,089$114,027$46,410
Telephone$52,250$46,279$3,649$2,322
Postage and shipping$147,200$32,638$48,189$66,373
Occupancy$668,821$586,851$52,522$29,448
Equipment rental and maintenance$380,421$190,278$183,651$6,492
Printing and publications$345,797$42,921$105,472$197,404
Travel$461,395$296,066$50,413$114,916
Conferences, conventions, and meetings$260,309$209,716$36,826$13,767
Interest$753,793$667,645$52,646$33,502
Depreciation, depletion, etc.$3,745,053$3,317,047$261,559$166,447
Other expenses not covered above$3,074,409$1,691,244$1,209,590$173,575
Balance Sheets
20002001200220032004200520062007
Total assets$92,081,936$134,280,106$138,933,002$133,747,555$134,952,475$130,280,397$136,384,039$195,007,884
Cash - non-interest-bearing$8,430,017$8,315,348$9,668,827$8,202,856$1,540$1,540$1,590$1,440
Savings and temporary cash investments$0$0$0$0$13,452,983$6,297,837$8,387,701$12,614,032
Accounts receivable less allowance for doubtful accounts$87,672$90,775$33,109$6,824$116,138$207,485$200,423$185,149
Pledges receivable less allowance for doubtful accounts$13,573,889$16,835,073$14,510,304$10,963,528$8,145,368$5,397,100$3,475,605$20,473,262
Grants receivable$0$0$0$190,000$162,000$47,000$14,000$10,000
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$374,760$349,719$0$0$0$0$0
Inventories for sale or use$491,524$485,092$558,835$435,925$347,438$269,359$381,609$434,399
Prepaid expenses and deferred charges$320,246$730,248$724,757$848,398$627,526$574,966$544,886$862,935
Investments - publicly-traded securities$42,591,339$72,040,578
Investments - other securities$44,480,105$61,729,429$42,113,620$38,821,875$39,310,271$43,152,092$2,551,845$5,053,697
Investments - land, buildings, and equipment less accumulated depreciation$738,908$1,363,994$1,347,022$1,259,635$1,260,481$4,160,010$4,139,899$4,111,203
Investments - other$28,662$35,602$37,178$55,418$50,232$132,504$4,414,020$7,908,122
Land, buildings, and equipment less accumulated depreciation$19,458,032$20,146,421$44,756,435$72,836,401$71,299,756$69,780,093$69,419,760$71,114,395
Other assets, including program-related investments$4,472,881$24,173,364$24,833,196$126,695$178,742$260,411$261,362$198,672
Total liabilities$13,925,158$50,350,123$52,516,804$42,299,757$39,192,186$28,750,794$27,926,378$67,805,186
Accounts payable and accrued expenses$2,660,198$3,054,156$6,449,488$3,423,579$3,944,819$3,582,810$4,083,030$4,692,376
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$5,264,960$5,726,885$8,867,792$7,390,752$9,884,793$5,892,667$7,928,239$7,580,334
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$6,000,000$41,000,000$35,500,000$30,700,000$24,400,000$19,100,000$15,700,000$54,300,000
Mortgages and other notes payable$0$0$0$0$0$0$0$0
Other liabilities$0$569,082$1,699,524$785,426$962,574$175,317$215,109$1,232,476
Total liabilities and net assets/fund balances$92,081,936$134,280,106$138,933,002$133,747,555$134,952,475$130,280,397$136,384,039$195,007,884
Total net assets or fund balances$78,156,778$83,929,983$86,416,198$91,447,798$95,760,289$101,529,603$108,457,661$127,202,698
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$43,495,942$34,829,903$32,170,394$27,738,090$34,848,142$37,578,148$40,990,065$60,501,267
Total revenue, gains, and other support per audited financial statements$43,563,283$32,883,686$31,087,982$34,771,933$36,249,199$40,103,564$42,713,914$62,394,328
Other expenses$45,812$-433,489$-1,037,129$7,033,843$1,401,057$2,525,416$1,723,849$1,893,061
Net unrealized gains on investments$0$0$0$4,710,941$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$45,812$-433,489$-1,037,129$2,322,902$1,401,057$2,525,416$1,723,849$1,893,061
Other revenue$-21,529$1,512,728$45,283$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$-21,529$1,512,728$45,283$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$24,152,160$26,917,240$28,553,737$28,331,529$30,358,503$32,596,092$33,884,960$36,059,029
Total expenses and losses per audited financial statements$24,198,399$27,110,481$28,601,767$29,740,333$31,936,708$34,334,252$35,648,601$43,649,292
Other revenue$46,239$193,241$48,030$1,408,804$1,578,205$1,738,160$1,763,641$7,590,263
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$46,239$193,241$48,030$1,408,804$1,578,205$1,738,160$1,763,641$7,590,263
Other expenses$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$280,000$92,471$2,155
40$162,000$22,730$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings28
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?Yes
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 2006476
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$2,400,939$27,841,903
Program service revenue
Program service revenue 1000000$000$0$25,092,974
Program service revenue 2000000$000$0$1,472,649
Program service revenue 3000000$000$0$926,388
Program service revenue 4000000$000$0$251,022
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$84,165$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$418,934$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$1,439,150$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$37,619$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$83,455$0
Gross profit or (loss) from sales of inventory000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$227,374$0
Other revenue000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$110,242$98,870
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$86,263$17,615$64,250
$147,000$20,133$0
$120,400$14,806$9,600
$121,050$17,438$5,097
$105,100$10,449$0
Total number of other employees paid over $50,000176
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isSchool
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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1Westminster Schools Inc1424 W Paces Ferry Rd Nw, Atlanta, GA 30327-2428GA1951-09$177,140,748
2Woodward Academy Inc1662 Rugby Ave, College Park, GA 30337-2116GA1933-08$134,712,729
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4Pace Academy Inc966 W Paces Ferry Rd Nw, Atlanta, GA 30327-2648GA1960-07$50,276,049
5Darlington School1014 Cave Spring Rd Sw, Rome, GA 30161-4701GA1935-03$46,722,539
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7Galloway School Inc215 W Wieuca Rd Nw, Atlanta, GA 30342-3223GA1969-09$30,106,332
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Number of organizations performing similar types of work
Alaska1
Alabama6
Arkansas4
Arizona5
California57
Colorado8
Connecticut15
District of Columbia4
Delaware6
Florida24
Georgia32
Hawaii5
Iowa4
Idaho3
Illinois19
Indiana6
Kansas3
Kentucky7
Louisiana7
Massachusetts21
Maryland23
Maine4
Michigan7
Minnesota12
Missouri8
Mississippi5
Montana2
North Carolina13
New Hampshire3
New Jersey20
New Mexico5
Nevada3
New York48
Ohio27
Oklahoma2
Oregon7
Pennsylvania31
South Carolina5
South Dakota3
Tennessee22
Texas32
Utah2
Virginia22
Vermont2
Washington20
Wisconsin8
West Virginia2
International4
Total579

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