The Episcopal Academy

The information on this page was last updated 5/19/2023. If you see errors or omissions, please email: [email protected]


Summary

Episcopal's 1,200 students-from Pre-Kindergarten through 12th grade-learn in an atmosphere that is both challenging and supportive, buoyed by a strong community of students, caring teachers and coaches, and unparalleled classroom and campus resources.


Contact information

Mailing address:
The Episcopal Academy
1785 Bishop White Drive
Newtown Square, PA 19073

Website: episcopalacademy.org

Phone: 484-424-1400

Email: [email protected]


Organization details

EIN: 231370500

CEO/President: Dr. T.J. Locke

Chairman: Elizabeth A. Corrigan

Board size: 29

Founder: Rt. Rev. William White

Ruling year: 1943

Tax deductible: Yes

Fiscal year end: 06/30

Member of ECFA: No

Member of ECFA since:


Purpose

At The Episcopal Academy, we take a robust approach to Mind, Body, and Spirit as an holistic approach to educating, nurturing, and developing boys and girls. We do not believe that Mind, Body, and Spirit are competing interests, but rather that the three are clearly inseparable and mutually reinforcing.


Mission statement

Challenging and nurturing Mind, Body, and Spirit, we inspire boys and girls to lead lives of purpose, faith, and integrity.


Statement of faith

Faith-Based Culture: While religious services are rooted in teachings from the Episcopal faith, our community welcomes families of all faiths.

At their core, religion courses and services teach our students to think beyond themselves and to recognize their responsibilities as citizens and human beings. Our Chapel program centers around the liturgy, a word that means, "work of the people." This work brings together students, faculty, staff, and parents to reflect, ask hard questions, and celebrate the divine in one another. It is an affirmation of our wide range of faiths, cultures, and traditions, and the powerful conversations we enjoy as a community in order to enrich our individual understanding.

Donor confidence score

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Transparency grade

D

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Financial efficiency ratings

Sector: K-12 Schools/Academies

CategoryRatingOverall rankSector rank
Overall efficiency rating432 of 110131 of 48
Fund acquisition rating453 of 110231 of 48
Resource allocation rating200 of 11026 of 48
Asset utilization rating794 of 110143 of 48

Financial ratios

Funding ratiosSector median20222021202020192018
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
11%15%16%21%14%22%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
2%4%4%5%4%4%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
16%29%22%22%29%19%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
3%5%4%5%5%5%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
84%71%78%78%71%81%
 
Operating ratiosSector median20222021202020192018
Program expense ratio Program expense ratio =
Program services /
Total expenses
83%88%88%85%85%83%
Spending ratio Spending ratio =
Total expenses /
Total revenue
93%88%93%92%84%94%
Program output ratio Program output ratio =
Program services /
Total revenue
74%77%82%78%71%78%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
7%12%7%8%16%6%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
7%3%1%2%4%1%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
14%7%8%10%10%12%
 
Investing ratiosSector median20222021202020192018
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.460.200.180.200.190.19
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
3.082.392.412.852.923.23
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.450.480.440.560.560.63
 
Liquidity ratiosSector median20222021202020192018
Current ratio Current ratio =
Total current assets /
Total current liabilities
3.018.089.037.576.718.45
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.330.120.110.130.150.12
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.1921.9324.3818.5718.0816.84
 
Solvency ratiosSector median20222021202020192018
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
33%8%8%9%10%9%
Debt ratio Debt ratio =
Debt /
Total assets
12%3%3%4%4%5%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
143%456%506%464%468%468%

Financials

Balance sheet
 
Assets20222021202020192018
Cash$17,280,683$15,269,604$12,480,600$10,665,261$4,744,868
Receivables, inventories, prepaids$15,871,761$11,914,929$11,131,126$12,938,097$3,966,173
Short-term investments$86,697,468$93,422,894$70,855,000$67,618,277$68,659,957
Other current assets$0$0$0$0$0
Total current assets$119,849,912$120,607,427$94,466,726$91,221,635$77,370,998
Long-term investments$9,900,001$8,900,000$8,200,000$8,250,000$0
Fixed assets$155,481,360$160,188,546$165,112,576$165,071,853$169,649,103
Other long-term assets$676,957$977,921$1,534,374$1,808,605$2,562,511
Total long-term assets$166,058,318$170,066,467$174,846,950$175,130,458$172,211,614
Total assets$285,908,230$290,673,894$269,313,676$266,352,093$249,582,612
 
Liabilities20222021202020192018
Payables and accrued expenses$4,675,811$3,066,190$4,034,926$4,657,735$3,434,017
Other current liabilities$10,149,953$10,285,616$8,448,761$8,946,002$5,722,415
Total current liabilities$14,825,764$13,351,806$12,483,687$13,603,737$9,156,432
Debt$8,575,842$9,295,984$9,994,228$10,950,710$11,852,129
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$459,405$847,111$861,205$816,470$852,034
Total long-term liabilities$9,035,247$10,143,095$10,855,433$11,767,180$12,704,163
Total liabilities$23,861,011$23,494,901$23,339,120$25,370,917$21,860,595
 
Net assets20222021202020192018
Without donor restrictions$209,966,140$214,683,288$203,942,851$202,865,929$198,741,531
With donor restrictions$52,081,079$52,495,705$42,031,705$38,115,247$28,980,486
Net assets$262,047,219$267,178,993$245,974,556$240,981,176$227,722,017
 
Revenues and expenses
 
Revenue20222021202020192018
Total contributions$18,977,266$12,406,105$12,631,586$17,489,420$9,989,289
Program service revenue$46,296,624$42,594,856$41,929,013$41,388,975$40,018,454
Membership dues$8,950$0$10,090$15,820$20,150
Investment income$196,222$1,973,265$2,770,930$1,815,450$1,390,681
Other revenue$13,319($425,740)$46,709$624,257$294,309
Total other revenue$46,515,115$44,142,381$44,756,742$43,844,502$41,723,594
Total revenue$65,492,381$56,548,486$57,388,328$61,333,922$51,712,883
 
Expenses20222021202020192018
Program services$50,545,581$46,568,358$44,974,964$43,793,559$40,549,062
Management and general$4,065,501$4,195,109$5,333,105$5,276,583$5,847,906
Fundraising$2,866,304$2,033,246$2,678,725$2,450,788$2,224,929
Total expenses$57,477,386$52,796,713$52,986,794$51,520,930$48,621,897
 
Change in net assets20222021202020192018
Surplus (deficit)$8,014,995$3,751,773$4,401,534$9,812,992$3,090,986
Other changes in net assets$0$0$0$0$0
Total change in net assets$8,014,995$3,751,773$4,401,534$9,812,992$3,090,986

Compensation

NameTitleCompensation
Dr Thomas J LockeHead of School$1,103,135
Lawrence CapuzziChief Financial Officer$311,161
Jennifer FiferDir of Institutional Advan$255,737
Mark NotaroChief Operating Officer$243,981
Terrence MaloneHead of Lower School$203,362
Michael LettsHead of Upper School$202,254
Erin RehelDirector of Strategy and Institutional Research$175,172

Compensation data as of: 6/30/2022


Response from ministry

No response has been provided by this ministry.


The information below was provided to MinistryWatch by the ministry itself. It was last updated 5/19/2023. To update the information below, please email: [email protected]


History

The Episcopal Academy celebrates a rich history steeped in the academic tradition. Since 1785, Episcopal has transformed from a small schoolhouse to an expansive, state-of-the-art campus. It has embraced coeducation to inspire boys and girls to learn and achieve together. Its classroom learning has developed into an innovated curriculum that provides students with dynamic opportunities in the classroom, off campus, and online.

Through so many changes over 230 years, some things remain the same: Episcopal's dedicated faculty, challenging academics, and unwavering commitment to challenge and nurture Mind, Body, and Spirit.

It was 1785. A mere nine years after the United States gained independence from Britain, the Rt. Rev. William White founded The Episcopal Academy in Philadelphia.

Initially an all-boys school, The Episcopal Academy offered a curriculum focused on classical languages, religion, and mathematics. Trustees included two signers of the Declaration of Independence, as well as bankers, merchants, and reverends. The faculty was composed of notable figures like Noah Webster Jr. of Webster Dictionaries.

In its first 60 years, The Episcopal Academy endured tumultuous periods of debt and resurgence. It was first reconstituted as a free school in 1798, but then became a Second Classical Academy in 1816 and a free school again in 1828.

In 1846, The Episcopal Academy was again reconstituted and has operated continuously since. In 1850, the school moved to a building at Juniper and Locust Street, and remained there until its 1921 move to the Merion campus.

This major change would be followed fifty-three years later with the addition of a new lower school in Devon, as well as the transition to a coeducational learning environment.

The shift to coeducation was the product of years of strategic planning. Girls were admitted to Devon's kindergarten class in 1974, and would be added to each year's incoming class thereafter until the school was fully coeducational. The first coeducational class graduated from The Episcopal Academy in 1984.

Over the next few decades, The Episcopal Academy would outgrow its Merion and Devon campuses. A 123-acre tract of land in Newtown Square was purchased with a $20 million donation, and the $212.5 million campus project would be completed in time to open for the 2008-2009 school year.

Today's Newtown Square campus boasts state-of-the-art academic, arts, athletic, and spiritual facilities. However, it also features keepsakes from the Merion and Devon campuses: original stained glass windows in the Class of 1944 Chapel, the clock that currently stands on the Clark Campus Green, and several artifacts in the Crawford Campus Center.

Today, students enjoy a rigorous curriculum that includes Advanced Placement (AP) classes, opportunities to study abroad, interdisciplinary study, and online courses with internationally renowned faculty. They are enriched by vibrant arts, dominant athletics, and inspiring spiritual programs.


Program accomplishments


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