PURNELL SCHOOL

EIN: 221756952 501(c)(3)

POTTERSVILLE, NJ

Total Revenue
$5,105,017
Total Expenses
$5,824,540
Total Assets
$4,284,615
Net Assets
$2,721,469
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1963
Legal Domicile
NJ
Principal Officer
JOSEPH MCPEAK
Phone
9084392154
Tax Period
2020-07-01 to 2021-06-30

PURNELL SCHOOL, founded in 1963, is a community nonprofit that reported $5.1M in total revenue in fiscal year 2020. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $5.8M exceeded revenue, resulting in a 14% operating deficit.

Mission

PURNELL SCHOOL'S MISSION IS TO EDUCATE YOUNG WOMEN IN GRADES NINE THROUGH TWELVE WITHIN A CREATIVE, REFLECTIVE, AND SUPPORTIVE CLASSROOM AND BOARDING COMMUNITY. STUDENTS DISCOVER THEIR UNIQUE STRENGTHS IN PREPARATION FOR COLLEGE AND THE WORLD. PURNELL STUDENTS LEARN TO BE ETHICAL, INDEPENDENT, AND SELF-CONFIDENT WORKING WITH FACULTY WHO ACT AS MENTORS, TEACH TO ALL KINDS OF LEARNING STYLES AND MODEL THE SCHOOL'S FOUNDING GUIDELINES: CONSIDERATION OF OTHERS, TRUTHFULNESS IN ALL RELATIONS, AND USE OF COMMON SENSE.

Program Service Accomplishments

Program 1
Expenses: $4,077,328 Revenue: $3,222,618

THE SCHOOL PROVIDES RESIDENTIAL SECONDARY EDUCATION TO APPROXIMATELY 58 YOUNG WOMEN IN GRADES 9 THROUGH 12. THE SCHOOL ALSO PROVIDES EXTRA-CURRICULAR ACTIVITIES, CULTURAL PROGRAMS, AND OTHER...

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THE SCHOOL PROVIDES RESIDENTIAL SECONDARY EDUCATION TO APPROXIMATELY 58 YOUNG WOMEN IN GRADES 9 THROUGH 12. THE SCHOOL ALSO PROVIDES EXTRA-CURRICULAR ACTIVITIES, CULTURAL PROGRAMS, AND OTHER ANCILLARY SERVICES.

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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%)

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Financial Overview (2020)

Revenue Breakdown

Contributions & Grants $1,881,607
Program Service Revenue $3,222,618
Investment Income $792
Other Revenue $0
TOTAL REVENUE $5,105,017

Expense Breakdown

Grants Paid $803,730
Salaries & Benefits $2,733,970
Fundraising Expenses $214,455
Program Expenses $4,077,328
Other Expenses $2,286,840
TOTAL EXPENSES $5,824,540

Year-over-Year Comparison

2020 2019 Change
Revenue $5,105,017 $4,566,126 +0.1%
Expenses $5,824,540 $5,336,307 +0.1%
Net Income $-719,523 $-770,181 -0.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
13
Independent Members
13
Employees
56
Volunteers
13

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
3
$344,335
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ELIZABETH BUDD BUGLIARI TRUSTEE 2.00
Director
$0 $0 $0
TRACEY MCCOY ELLIOTT TRUSTEE 2.00
Director
$0 $0 $0
MARTHA BELLIS GREGG TRUSTEE 2.00
Director
$0 $0 $0
JEREMY JEFFERY CHAIRMAN 2.00
Officer Director
$0 $0 $0
KEVIN MCLAUGHLIN TRUSTEE 2.00
Director
$0 $0 $0
MARTHA GALLO TRUSTEE 2.00
Director
$0 $0 $0
JEANNIE MULLETT FORSTER TRUSTEE 2.00
Director
$0 $0 $0
SARAH HOUGHTON TRUSTEE 2.00
Director
$0 $0 $0
LISA LOEB TRUSTEE 2.00
Director
$0 $0 $0
GENEVIEVE MADIGAN TRUSTEE 2.00
Director
$0 $0 $0
DR ASPOSIA NIKOLAOU TRUSTEE 2.00
Director
$0 $0 $0
ALAN WARREN TRUSTEE 2.00
Director
$0 $0 $0
LUCKY NAGARAJAN TRUSTEE 2.00
Director
$0 $0 $0
ANNE GLASS ASSOCIATE HEAD OF SCHOOL 40.00
Officer
$199,172 $15,912 $215,084
JOESPH MCPEAK CFO 40.00
Officer
$105,619 $23,632 $129,251
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
2021 $5,105,017 $5,824,540 $4,284,615 $-719,523
2020 $4,566,126 $5,336,307 $5,717,552 $-770,181
2019 $4,605,776 $5,426,867 $6,283,835 $-821,091
2018 $3,589,084 $6,099,564 $6,338,854 $-2,510,480
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