SOUTH KENT SCHOOL CORPORATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1923

Legal Domicile

Principal Officer

BRIAN SULLIVAN

Phone

8609273539

Tax Period

2024-07-01 to 2025-06-30

SOUTH KENT SCHOOL CORPORATION, founded in 1923, is a mid-sized nonprofit in the Education sector that reported $17.3M in total revenue in fiscal year 2024. Expenses of $19.5M exceeded revenue, resulting in a 13% operating deficit.

Mission

SOUTH KENT SCHOOL IS AN INDEPENDENT, COLLEGE-PREPARATORY SCHOOL FOR BOYS. SINCE ITS FOUNDING, SOUTH KENT HAS MAINTAINED TIES WITH THE EPISCOPAL CHURCH. THREE PRINCIPLES DEFINE THE SCHOOL: SIMPLICITY OF LIFE, SELF-RELIANCE, AND DIRECTNESS OF PURPOSE.WE OFFER, BY LIVING SIMPLY, AN UNCLUTTERED ENVIRONMENT FOR LIVELY AND RIGOROUS LEARNING.WE ENCOURAGE OUR STUDENTS TO BECOME SELF-RELIANT IN ORDER TO DEVELOP COMPETENCE AND SELF-ESTEEM.WE VALUE DIRECTNESS OF PURPOSE: WE WANT EACH STUDENT TO WELCOME THE CHALLENGE TO FOCUS HIS ENERGIES, TO SET GOALS, AND TO WORK TO MEET THEM.

Program Service Accomplishments

Program 1

Expenses: $16,055,438 Revenue: $13,188,834

A PRIVATE SECONDARY EDUCATIONAL INSTITUTION FOR APPROXIMATELY 177 BOARDING AND DAY STUDENTS (BOYS). THE SCHOOL PROVIDES AN ENVIRONMENT THAT ENCOURAGES INTELLECTUAL, CULTURAL AND ATHLETIC ACHIEVEMENT.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,194,790

Program Service Revenue $13,404,276

Investment Income $1,437,718

Other Revenue $228,017

TOTAL REVENUE $17,264,801

Expense Breakdown

Grants Paid $6,102,925

Salaries & Benefits $6,069,158

Fundraising Expenses $828,306

Program Expenses $16,055,438

Other Expenses $7,371,359

TOTAL EXPENSES $19,543,442

Year-over-Year Comparison

	2024	2023	Change
Revenue	$17,264,801	$17,908,441	0.0%
Expenses	$19,543,442	$17,475,878	+0.1%
Net Income	$-2,278,641	$432,563	-6.3%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$686,733

Total Directors

$461,918

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRIAN SULLIVAN	HEAD OF SCHOOL	60.00	Officer Director	$382,900	$79,018	$461,918
WILLIAM ROWE	BOARD CHAIR	5.00	Officer Director	$0	$0	$0
TIMOTHY RICHARDS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
SAMUEL ANDERSON	TREASURER	1.00	Officer Director	$0	$0	$0
SAMUEL BARRINGTON	TRUSTEE	1.00	Director	$0	$0	$0
EDWARD D'ATRI JR	TRUSTEE	1.00	Director	$0	$0	$0
HANI MS FARSI	TRUSTEE	1.00	Director	$0	$0	$0
MARISA GARDINI	TRUSTEE	1.00	Director	$0	$0	$0
SUSAN GARDNER	TRUSTEE	1.00	Director	$0	$0	$0
JOSHUA HANFLING	TRUSTEE	1.00	Director	$0	$0	$0
PETER HOPPER	TRUSTEE	1.00	Director	$0	$0	$0
KATHLEEN LINDENMAYER	TRUSTEE	1.00	Director	$0	$0	$0
BHARAT MEDIRATTA	TRUSTEE	1.00	Director	$0	$0	$0
CHARLIE MERRILL	TRUSTEE	1.00	Director	$0	$0	$0
STEPHEN NAHLEY	TRUSTEE	1.00	Director	$0	$0	$0
PETER RAMSEY	TRUSTEE	1.00	Director	$0	$0	$0
SID STOCKDALE	TRUSTEE	1.00	Director	$0	$0	$0
DAVID TWEARDY	TRUSTEE	1.00	Director	$0	$0	$0
JASON VELEZ	TRUSTEE	1.00	Director	$0	$0	$0
CHARLES F WREAKS IV	TRUSTEE	1.00	Director	$0	$0	$0
LUZ MCCARTHY	CFO/ASSISTANT TREASURER	50.00	Officer	$177,873	$46,942	$224,815
JASON LEFEVRE	DIRECTOR OF ADMISSIONS	40.00	Highest	$128,750	$37,301	$166,051
LINDSEY LEFEVRE	ASSISTANT HEAD OF ACADEMICS & STUDENT PROGRAMS	40.00	Highest	$105,737	$67,918	$173,655
LAWRENCE SMITH	EMERITUS HEAD OF SCHOOL	0.00	Highest	$230,146	$22,188	$252,334

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$17,264,801	$19,543,442	$36,849,685	$-2,278,641
2024	$17,908,441	$17,475,878	$38,383,385	$432,563
2023	$11,600,981	$15,908,884	$36,202,289	$-4,307,903
2022	$16,289,359	$13,464,863	$39,882,934	$2,824,496
2021	$14,351,680	$12,253,224	$39,417,469	$2,098,456
2020	$13,231,030	$12,758,992	$33,230,576	$472,038
2019	$12,570,947	$15,000,287	$33,124,918	$-2,429,340
2018	$13,535,042	$14,351,143	$34,652,789	$-816,101