NORFOLK COLLEGIATE SCHOOL (EIN 540806413) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1948

Legal Domicile

Principal Officer

SCOTT KENNEDY

Phone

7575830919

Tax Period

2024-07-01 to 2025-06-30

NORFOLK COLLEGIATE SCHOOL, founded in 1948, is a mid-sized nonprofit in the Education sector that reported $13.6M in total revenue in fiscal year 2017.

Mission

TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,774,415

Program Service Revenue $13,410,191

Investment Income $125,453

Other Revenue $183,196

TOTAL REVENUE $16,493,255

Expense Breakdown

Grants Paid $3,160,173

Salaries & Benefits $7,278,659

Fundraising Expenses $532,364

Program Expenses $12,759,349

Other Expenses $4,963,958

TOTAL EXPENSES $15,402,790

Year-over-Year Comparison

	2024	2023	Change
Revenue	$16,493,255	$14,682,322	+0.1%
Expenses	$15,402,790	$15,164,911	+0.0%
Net Income	$1,090,465	$-482,589	-3.3%

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

285

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

$251,376

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TAYLOR FRANKLIN	CHAIRMAN	2.00	Officer Director	$0	$0	$0
LANGBOURNE WILLIAMS	PAST CHAIRMAN	2.00	Officer Director	$0	$0	$0
GEORGE M RECTOR	TRUSTEE	2.00	Director	$0	$0	$0
BRIAN M CLEMENTS	TREASURER	2.00	Officer Director	$0	$0	$0
GREG MURPHY	TRUSTEE	2.00	Director	$0	$0	$0
PAMELA E CRENSHAW	SECRETARY	2.00	Officer Director	$0	$0	$0
VIRGINIA HITCH	TRUSTEE	2.00	Director	$0	$0	$0
THOMAS E MATHAS	TRUSTEE	2.00	Director	$0	$0	$0
THOMAS MINTON III	VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
DR SHARON B REED	TRUSTEE	2.00	Director	$0	$0	$0
ANDREW A PROTOGYROU	TRUSTEE	2.00	Director	$0	$0	$0
DR ELIZABETH RUTH SMITH	TRUSTEE	2.00	Director	$0	$0	$0
TRINA S STEWART	TRUSTEE	2.00	Director	$0	$0	$0
MEREDITH LARSON	TRUSTEE	2.00	Director	$0	$0	$0
ANDREW CASTELLANO	TRUSTEE	2.00	Director	$0	$0	$0
BERT B HENDERSON IV	TRUSTEE	2.00	Director	$0	$0	$0
ANDREW M SCHAUBACH	TRUSTEE	2.00	Director	$0	$0	$0
KATHERINE TAYLOR	TRUSTEE	2.00	Director	$0	$0	$0
LEVI THOMSON	TRUSTEE	2.00	Director	$0	$0	$0
GORDON M WOLCOTT	TRUSTEE	2.00	Director	$0	$0	$0
SCOTT G KENNEDY	HEAD OF SCHOOL	60.00	Officer	$238,638	$12,738	$251,376
ANNE C CLAYWELL	HEAD OF UPPER SCHOOL	40.00	Highest	$111,931	$6,570	$118,501
STACY NIXON	ASSISTANT HEAD FOR ADVANCE	40.00	Highest	$150,154	$1,859	$152,013
CARY A SAWYER	DIRECTOR OF FINANCE AND OP	40.00	Highest	$135,670	$12,744	$148,414
NEFERTITI MAKEDA	DIRECTOR OF DIVERSITY AND	40.00	Highest	$107,496	$6,516	$114,012

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	$16,493,255	$15,402,790	$26,668,991	$1,090,465
2024	$14,682,322	$15,164,911	$24,969,528	$-482,589
2023	$13,854,316	$14,171,955	$24,797,275	$-317,639
2022	$13,831,989	$13,557,371	$25,101,783	$274,618
2021	$14,964,188	$12,986,949	$25,242,061	$1,977,239
2020	$13,959,216	$14,324,933	$24,518,143	$-365,717
2019	$13,291,687	$14,684,145	$25,331,944	$-1,392,458
2018	$13,609,387	$14,699,793	$28,234,385	$-1,090,406

NORFOLK COLLEGIATE SCHOOL