SPARTANBURG DAY SCHOOL

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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

1957

Legal Domicile

Principal Officer

SHEILA L CASH

Phone

8645827539

Tax Period

2024-07-01 to 2025-06-30

SPARTANBURG DAY SCHOOL, founded in 1957, is a mid-sized nonprofit that reported $17.9M in total revenue in fiscal year 2024. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $17.1M left a modest 5% surplus.

Mission

THE MISSION OF THE SPARTANBURG DAY SCHOOL IS TO PROVIDE A SUPERIOR EDUCATIONAL EXPERIENCE, IN A COMMUNITY OF TRUST, THAT PREPARES STUDENTS FOR A LIFE WELL LIVED. SPARTANBURG DAY SCHOOL IS DUALLY ACCREDITED BY SOUTHERN ASSOCIATION OF INDEPENDENT SCHOOLS (SAIS) AND ADVANCED AND BY PAIS, CUM LAUDE SOCIETY AND THE COLLEGE BOARD.

Program Service Accomplishments

Program 1

Expenses: $12,337,126 Revenue: $13,000,253

SPARTANBURG DAY SCHOOL IS A NATIONALLY ACCREDITED INDEPENDENT SCHOOL FOR STUDENTS IN GRADES 2K-12 LOCATED IN SPARTANBURG SC. THE SCHOOL PROVIDES A COLLEGE PREPARATORY EDUCATION FOR STUDENTS IN 3...

SPARTANBURG DAY SCHOOL IS A NATIONALLY ACCREDITED INDEPENDENT SCHOOL FOR STUDENTS IN GRADES 2K-12 LOCATED IN SPARTANBURG SC. THE SCHOOL PROVIDES A COLLEGE PREPARATORY EDUCATION FOR STUDENTS IN 3 SCHOOL DIVISIONS: LOWER SCHOOL - GRADES 2K-4THMIDDLE SCHOOL - GRADES 5-8UPPER SCHOOL - GRADES 9-12

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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 $2,113,069

Program Service Revenue $11,964,716

Investment Income $2,803,532

Other Revenue $1,022,227

TOTAL REVENUE $17,903,544

Expense Breakdown

Grants Paid $2,086,903

Salaries & Benefits $9,990,115

Fundraising Expenses $540,578

Program Expenses $12,337,126

Other Expenses $5,003,902

TOTAL EXPENSES $17,080,920

Year-over-Year Comparison

	2024	2023	Change
Revenue	$17,903,544	$14,412,404	+0.2%
Expenses	$17,080,920	$15,728,185	+0.1%
Net Income	$822,624	$-1,315,781	-1.6%

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

340

Volunteers

N/A

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

Total Directors

$144,000

Key Employees

$562,402

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAIME WALL	TRUSTEE	0.00	Director	$0	$0	$0
SUSAN BRIDGES	TRUSTEE EMERITA	0.00	Director	$0	$0	$0
BHARGAVA KONDAVEETI	TRUSTEE	0.00	Director	$0	$0	$0
BILLY WEBSTER	TRUSTEE	0.00	Director	$0	$0	$0
RAJ PATEL	TRUSTEE	0.00	Director	$0	$0	$0
ELIZABETH RABB	SECRETARY	0.00	Officer Director	$0	$0	$0
NED PAGE	TRUSTEE	0.00	Director	$0	$0	$0
LEIGN ANN LANGLEY	TRUSTEE	0.00	Director	$0	$0	$0
LUCY LYNCH	ALUMNI REPRESENTATIVE	0.00	Director	$0	$0	$0
BEAR BOYD	PRESIDENT	0.00	Officer Director	$0	$0	$0
JARED WILSON	VICE PRESIDENT	0.00	Officer Director	$0	$0	$0
MARK VANGEISON	TRUSTEE	0.00	Director	$0	$0	$0
DAVID JOHNSON	TRUSTEE	0.00	Director	$0	$0	$0
SCOTT COCHRAN	TRUSTEE	0.00	Director	$0	$0	$0
SHEILA CASH	DIRECTOR OF FINANCE & OPER	40.00	Director	$126,483	$17,517	$144,000
BARNEY GOSNELL	TREASURER	0.00	Officer Director	$0	$0	$0
ANNA BLANTON	TRUSTEE	0.00	Director	$0	$0	$0
DR SHARDA JACKSON-SMITH	TRUSTEE	0.00	Director	$0	$0	$0
STACY MCBRIDE	TRUSTEE	0.00	Director	$0	$0	$0
MICHEL STONE	TRUSTEE	0.00	Director	$0	$0	$0
STEVE QUERIN	TRUSTEE	0.00	Director	$0	$0	$0
CHARLOTTE VERREAULT	TRUSTEE EMERITA	0.00	Director	$0	$0	$0
MARY STEWART LORING	PARENTS' COMMUNITY REPRESE	0.00	Director	$0	$0	$0
ELAINE FREEMAN	TRUSTEE EMERITA	0.00	Director	$0	$0	$0
DAVID SKEEN	HEAD OF SCHOOL	40.00	Key Emp	$405,025	$157,377	$562,402
JOHN CORBITT	DIRECTOR OF TECHNOLOGY & INNOVATION	40.00	Highest	$114,540	$5,727	$120,267

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	$17,903,544	$17,080,920	$74,436,645	$822,624
2024	No data	No data	No data	No data
2023	$13,673,675	$14,556,288	$68,854,273	$-882,613
2022	$20,048,240	$14,195,518	$65,458,172	$5,852,722
2021	$27,162,424	$12,907,819	$65,939,773	$14,254,605
2020	$14,687,883	$11,662,489	$48,465,977	$3,025,394
2019	$10,108,611	$10,587,129	$46,599,427	$-478,518
2018	$10,294,191	$10,531,422	$46,617,173	$-237,231