Canterbury School Inc

Nonprofit profile at a glance

EIN
060646566
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
New Milford, CT, USA
Phone
8602103800
Rating
77
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$32,131,786
Expenses
$30,379,201
Assets
$107,514,568
Liabilities
$22,116,294

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

30 people listed

Executive titles in this filing

  • H NICHOLAS RAGLAND JR (PRESIDENT)
  • JOHN A DONOVAN (VICE PRESIDENT)

Highest reported compensation

  • SUZANNE ROBERTS (INTERIM HEAD OF SCHOOL): $383,867 total reported compensation
  • RACHEL STONE (HEAD OF SCHOOL (UNTIL 06/24)): $307,281 total reported compensation
  • RICHARD HENDERSON JR (CHIEF ADVANCEMENT OFF (UNTIL 01/25)): $269,306 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Canterbury is a college preparatory, coeducational boarding and day school for students in grades 9-12.

What it reported doing in 2024

Instruction of approximately 341 students in grades 9-12, including student services related to education programs, lodging and meals.

Operating model

Revenue model
Earned-program. 74% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 74% for direct work, and 26% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some related-organization disclosures are missing.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 81
  • Accountability: 95
  • Sustainability: 60
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.2%; rating input score 68
  • Program expense ratio: 75.1%; rating input score 75
  • Fundraising efficiency: $3.81 raised per $1 spent on fundraising; rating input score 15; 15th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.7%; rating input score 95; 24th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.5%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 3.54; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 7.5%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: 3.1% per year; rating input score 100; 27th percentile among comparable filings
  • Revenue growth: 2.3% per year; rating input score 100; 20th percentile among comparable filings
  • Asset growth: 3.5% per year; rating input score 100; 26th percentile among comparable filings

Details

  • Where the money goes: 68.2% of revenue deployed · 75.1% of spending went to programs
  • Governance: 20 of 20 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $22.8M in reported program spending
  • Leadership: top reported pay $384K · 30 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.5M reported
  • Consistency: 41 of 42 current checks pass · 1 finding to review
  • Schedules: 12 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 15/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • Review — Sustainability: Operating margin scored 55/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.