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Riley School INC FY2024 filing

Tax-deductible

Rockport, ME501(c)(3)Education EIN 01-0316964Revenue $953K in FY2024

On file with the IRSrileyschool.com73 Warrenton St, 04856-3810 · Rockport, METax-exempt since Jan 1973School — 170(b)(1)(A)(ii)

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The mission of Riley School is to support the needs of young children and adolescents during their critical years of cognitive, emotional, and social growth. Riley School believes that self-worth is the key to success in academic achievement, creative expression, personal happiness, discipline, and community service. We champion the ability of all people to collaborate and to help others through cooperative work. We recognize and value each individual's unique gifts and talents. We foster a sense of responsibility towards our natural environment and strive to promote all of these goals within an educational setting which provides appropriate adult role models and a secure, loving atmosphere for learning. Each year Riley creates a learning environment commensurate with its mission by building upon the following: academics challenge and success a stimulating educational environment self-discipline responsibility

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
$65K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $9K a year · 1% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
75%
of spending
Looks good: 75% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$65K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $218K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$459K
55% of total assets
Fine: liabilities are 55% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$953K
+30% vs prior year
Spent
$1.0M
To programs
75%
Net assets
$376K
By yearFY2020–FY2025
Revenue
$953K
FY2024▲ +30%
Tap a bar for its year
Revenue by fiscal year
FY2020$814K
FY2021$701K
FY2022$780K
FY2023$732K
FY2024$953K
FY2025$1.1M
Expenses
$1.0M
FY2024▲ +18%
Tap a bar for its year
Expenses by fiscal year
FY2020$679K
FY2021$730K
FY2022$802K
FY2023$849K
FY2024$1.0M
FY2025$1.1M
Net assets
$376K
FY2024▼ -11%
Tap a bar for its year
Net assets by fiscal year
FY2020$590K
FY2021$559K
FY2022$537K
FY2023$421K
FY2024$376K
FY2025$409K

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1973.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $755K Management & general 20% · $203K Fundraising 4% · $43K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990; $65K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Rebecca Clapp
Head of Scho
$65,000Pt VII · Sec A
Sarah Merlo
Treasurer
$0Pt VII · Sec A
Tony Oppersdorff
Building & G
$0Pt VII · Sec A
$0Pt VII · Sec A
Chrisso Rheault
Vice-Preside
$0Pt VII · Sec A
Penelope York
Board Member
$0Pt VII · Sec A

Susannah Hasselgren’s $38K as Head of Scho is at the 5th percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Rebecca Clapp$35,000$65,000$58,724$59,000$55,000$54,464
Susannah Hasselgren$37,500—————
Caroline Saxe-Cobaugh$594—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports children's growth through education, fostering self-worth and community.

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Provided by the organization

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1 program · $755K · in their own filed words · FY2023
01

The riley school provides elementary school education for grades k-8, in addition to offering preschool and summer enrichment programs. In the 2023 -2024 year riley had 47 full-time students during the school year. Riley was able to offer reduced or waived tuition for 13 students throughout the school year.

$755Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Maine Community Foundation INCFY2024$217K
Arthur K Watson Charitable Tr UwFY2024$1K
Total grants receivedfrom 2 funders$218K
Grants paid · 5 grants · $275K · 2022–2024
Unitemized GrantFY2024$65,630
Unitemized GrantFY2024$60,900
Unitemized GrantFY2023$56,875
Unitemized GrantFY2023$53,300
Unitemized GrantFY2022$38,500

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$953K
Ln 12
Fees for servicesLn 2g$629K
Gifts and grantsLn 1h$349K
Investment incomeLn 3$161
Money outPt IX
$1.0M
Ln 25
Programscol B$755K
Managementcol C$203K
Fundraisingcol D$43K
Owns and owesPt X
$376K
net assets · Ln 32
Cash and savingsLn 1–2$37K
Total assetsLn 16$835K
LiabilitiesLn 26$459K
PeoplePt VI, VII
6
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$349K
Government grantsLn 1e$23K
Fees for servicesLn 2g$629K
Investment incomeLn 3$161
Total revenueLn 12$953K
Assets in detailPt X, end of year
CashLn 1$27K
SavingsLn 2$10K
Cash and savings togetherLn 1–2$37K
InvestmentsLn 11–13$6K
Land, buildings, equipmentLn 10c$779K
Other assetsLn 15$12K
Total assetsLn 16$835K
LiabilitiesLn 26$459K
Net assetsLn 32$376K
OperationsPt I, VI
EmployeesI 519
VolunteersI 625
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$55K$37K
InvestmentsLn 11–13$13K$6K
Land, buildings, equipmentLn 10c$832K$779K
Total assetsLn 16$910K$835K
LiabilitiesLn 26$490K$459K
Net assetsLn 32$421K$376K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$110K$110K
Pay of current officers, directors and key staffLn 5$70K$35K$35K
Other salaries and wagesLn 7$522K$425K$97K
Payroll taxesLn 10$59K$44K$12K$3K
Accounting feesLn 11c$12K$11K$986
Other fees for servicesLn 11g$15K$3K$12K$141
Advertising and promotionLn 12$11K$9K$2K
Office expensesLn 13$8K$8K$655
Information technologyLn 14$5K$2K$2K$522
OccupancyLn 16$54K$49K$4K$544
InterestLn 20$19K$18K$2K$196
Depreciation, depletion and amortizationLn 22$58K$58K
InsuranceLn 23$16K$14K$2K$243
Other expenses (24a–d)Ln 24$31K$26K$5K
All other expensesLn 24e$10K$6K$4K$196
Total functional expensesLn 25$1.0M$755K$203K$43K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.1M$1.1M$28K$409K 990 PDF
FY2024 Viewing $953K$1.0M−$48K$376K 990 PDF
FY2023 $732K$849K−$118K$421K 990 PDF
FY2022 $780K$802K−$21K$537K 990 PDF
FY2021 $701K$730K−$29K$559K 990 PDF
FY2020 $814K$679K$136K$590K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $952,694 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $295,455$348,566
I-9 Program service revenuePrior year $474,138$628,896
I-10 Investment incomePrior year −$1,621$161
I-11 Other revenuePrior year −$36,464−$24,929
I-12 Total revenuePrior year $731,508$952,694
I-13 Grants and similar amounts paidPrior year $38,500$110,175
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $563,557$650,209
I-16a Professional fundraising feesPrior year $5,500$0
I-17 Other expensesPrior year $241,488$240,351
I-18 Total expensesPrior year $849,045$1,000,735
I-19 Revenue less expensesPrior year −$117,537−$48,041
Part VI · Governance 7 of 7 board members independent, 5 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $952,694 across 9 lines filed
VIII-1e Government grants$22,825
VIII-1f All other contributions, gifts and grants$325,741
VIII-1h Total contributions, gifts and grants$348,566
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $628,896$628,896
VIII-3 Investment incomeExcluded from tax $161$161
VIII-6 Net rental income or lossUnrelated business −$27,946−$27,946
VIII-8 Net income from fundraising events$2,617
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $400$400
VIII-12 Total revenueRelated to mission $629,296 · Unrelated business −$27,946 · Excluded from tax $161$952,694
Part IX · Statement of functional expenses $1,000,735 across 15 lines filed
IX-2 Grants to domestic individualsPrograms $110,175$110,175
IX-5 Pay of current officers, directors and key staffManagement $34,750 · Fundraising $34,750$69,500
IX-7 Other salaries and wagesPrograms $424,714 · Management $97,048$521,762
IX-10 Payroll taxesPrograms $43,530 · Management $12,448 · Fundraising $2,969$58,947
IX-11c Accounting feesManagement $11,334 · Fundraising $986$12,320
IX-11g Other fees for servicesPrograms $3,145 · Management $11,736 · Fundraising $141$15,022
IX-12 Advertising and promotionManagement $8,749 · Fundraising $2,187$10,936
IX-13 Office expensesManagement $7,532 · Fundraising $655$8,187
IX-14 Information technologyPrograms $2,349 · Management $2,349 · Fundraising $522$5,220
IX-16 OccupancyPrograms $49,436 · Management $4,346 · Fundraising $544$54,326
IX-20 InterestPrograms $17,742 · Management $1,560 · Fundraising $196$19,498
IX-22 Depreciation, depletion and amortizationPrograms $57,812$57,812
IX-23 InsurancePrograms $14,324 · Management $1,533 · Fundraising $243$16,100
IX-24 Other expenses (24a–d)Programs $25,871 · Management $5,060$30,931
IX-24e All other expensesPrograms $5,693 · Management $4,110 · Fundraising $196$9,999
IX-25 Total functional expensesPrograms $754,791 · Management $202,555 · Fundraising $43,389$1,000,735
Part X · Balance sheet $834,511 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $54,555$27,101
X-2 Savings and temporary cash investmentsStart of year $150$9,741
X-10c Land, buildings and equipment, netStart of year $831,586$779,372
X-11 Publicly traded securitiesStart of year $12,606$6,182
X-15 Other assetsStart of year $11,485$12,115
X-16 Total assetsStart of year $910,382$834,511
X-17 Accounts payable and accrued expensesStart of year $44,538$24,889
X-19 Deferred revenueStart of year $124,700$142,234
X-26 Total liabilitiesStart of year $489,796$458,900
X-27 Net assets without donor restrictionsStart of year $416,086$365,544
X-28 Net assets with donor restrictionsStart of year $4,500$10,067
X-32 Total net assets or fund balancesStart of year $420,586$375,611
X-33 Total liabilities and net assetsStart of year $910,382$834,511
Part XI · Reconciliation of net assets $375,611 net assets at year end
XI-1 Total revenue$952,694
XI-2 Total expenses$1,000,735
XI-3 Revenue less expenses−$48,041
XI-4 Net assets at start of year$420,586
XI-5 Net unrealized gains (losses) on investments$888
XI-9 Other changes in net assets$2,178
XI-10 Net assets at end of year$375,611

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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