Kent Place School

Analysis

Kent Place School is a registered charity in United States, based in Summit, NJ. It received its IRS tax-exemption ruling in May 1923, 103 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Kent Place School reported income of $40.9m and spending of $39.8m, spending 97% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $32.1m to $40.9m (+27%), an average of +6.2% a year. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Kent Place School sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NJ. Charities of a similar size with the same main cause include Catlin Gabel School ($40.8m), Cornell University Foundation ($41.0m) and Fessenden School ($40.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $995k (2.5% of expenses). Other salaries and wages came to $17.9m. It paid $85k in professional fundraising fees. At year end it held assets of $76.7m against liabilities of $10.9m, net assets of $65.8m. It reported 365 employees.