Proctor Academy: FY2024 Nonprofit Profile & Form 990 (EIN 02-0222179)

Revenue by fiscal year
FY2020	$31.5M
FY2021	$32.5M
FY2022	$32.1M
FY2023	$34.3M
FY2024	$38.8M
FY2025	$43.4M

Expenses by fiscal year
FY2020	$28.9M
FY2021	$29.7M
FY2022	$30.7M
FY2023	$32.8M
FY2024	$35.3M
FY2025	$36.6M

Net assets by fiscal year
FY2020	$60.6M
FY2021	$68.1M
FY2022	$64.0M
FY2023	$68.1M
FY2024	$73.6M
FY2025	$81.9M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1946.

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

Where the money goes

77 cents of each dollar spent went to programs.

77%

17%

Program services 77% · $27.3M Management & general 17% · $5.9M Fundraising 6% · $2.1M

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

Something off? Claim to add context

Who runs it and what they're paid

30 people listed on the 990; $926K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation

Brian Thomas

Head of School

$267,164Pt VII · Sec A

Keith Barrett

Director of Development

$194,031Pt VII · Sec A

Christopher Bartlett

Director of Enrollment & M

$141,170Pt VII · Sec A

Karin Clough

Assistant Head of School

$139,162Pt VII · Sec A

Scott Allenby

Chief Strategy and Communications Officer

$108,454Pt VII · Sec A

Kurt Croft

Chief Resource Officer

$76,213Pt VII · Sec A

Doug Robie

Trustee

$0Pt VII · Sec A

Hadley Scully

Trustee

$0Pt VII · Sec A

Brian Thomas’s $272K as Head of School Through 6/30/24 is at the 58th percentile of top reported officer pay among 3683 $10–100M 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 · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Michael Henriques	—	—	—	$258,577	$386,643	$379,970
Brian Thomas	$272,469	$267,164	$286,999	$148,638	—	—
John Ferris	—	—	—	—	$204,671	$202,839
Keith Barrett	—	$194,031	$188,254	$183,839	$180,143	$176,947
Steve Wilkins	$176,270	—	—	—	—	—
Kurt Croft	$154,298	$76,213	—	—	—	—
Christopher Bartlett	$151,260	$141,170	$132,190	$129,653	$126,977	$125,578
Karin Clough	—	$139,162	$150,208	$129,136	$113,509	$101,576

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.

See Proctor Academy executive salaries →

Questions the 990 asks

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

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Fosters individual growth through rigorous academics, experiential learning, and community.

Questions for Proctor Academy

Tap to ask. Proctor Academy sees how many people are interested.

Your first name shows with your question. Proctor Academy answers here, for everyone.

1 program · $27.3M · in their own filed words · FY2023

01

Educating 378 high school students taught by 90 faculty and specialists in 180 school days and in 3 trimesters.

Form 990 Part III, line 4, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 02-0222179) · Dispute this line

$27.3Mprogram 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 · FY2025

Grace C Jordan Trust U/IFY2025$6K

Total grants receivedfrom 1 funder$6K

Grants paid · 2 grants · $12.7M · 2022–2023

Unitemized GrantFY2023$6,647,007

Unitemized GrantFY2022$6,050,579

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$38.8M

Ln 12

Fees for servicesLn 2g$28.7M

Gifts and grantsLn 1h$8.4M

Investment incomeLn 3$986K

Money outPt IX

$35.3M

Ln 25

Programscol B$27.3M

Managementcol C$5.9M

Fundraisingcol D$2.1M

Owns and owesPt X

$73.6M

net assets · Ln 32

Cash and savingsLn 1–2$8.7M

Total assetsLn 16$97.6M

LiabilitiesLn 26$24.0M

PeoplePt VI, VII

30

listed · VII A

PaidVII A6

Voting boardVI 1a30

IndependentVI 1b30

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$8.4M

Noncash giftsLn 1g$1.2M

Fundraising eventsLn 1c$28K

Fees for servicesLn 2g$28.7M

Investment incomeLn 3$986K

Other incomeLn 4–11$722K

Gains on assetsLn 7$498K

Total revenueLn 12$38.8M

Assets in detailPt X, end of year

CashLn 1$8.7M

Cash and savings togetherLn 1–2$8.7M

Pledges and grants receivableLn 3$1.6M

Accounts receivableLn 4$524K

Inventories for sale or useLn 8$261K

Prepaid expenses and deferred chargesLn 9$782K

Land, buildings, equipmentLn 10c$47.8M

InvestmentsLn 11–13$37.3M

Other assetsLn 15$665K

Total assetsLn 16$97.6M

LiabilitiesLn 26$24.0M

Net assetsLn 32$73.6M

OperationsPt I, VI

EmployeesI 5365

VolunteersI 6325

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3More from this return

BondsSch K, Pt X

Tax-exempt bond debt owedX 20$16.9M

Bond issues listedSch K Pt I1

Raised by those issuesSch K Pt I$25.0M

Abroad and in kindSch F, M

Noncash gifts receivedSch M Pt I$1.2M

Investment feesPt IX, Sch D

Investment fees, as reportedPt IX 11f$166K

Share of the $34.3M endowmentSch D 1g0.48%

Typical, median of 2,202 orgs0.44%

EndowmentSch D · Pt V

Line	FY24	FY23	FY22	FY21	FY20
End of yearLn 1g	$34.3M	$32.4M	$28.7M	$33.0M	$27.4M
AddedLn 1b	$587K	$2.6M	$977K	$269K	$480K
SpentLn 1d–1f	$1.9M	$1.6M	$1.6M	$1.9M	$2.4M

4Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$5.1M	$8.7M
InvestmentsLn 11–13	$33.7M	$37.3M
Land, buildings, equipmentLn 10c	$49.7M	$47.8M
Total assetsLn 16	$92.7M	$97.6M
LiabilitiesLn 26	$24.6M	$24.0M
Net assetsLn 32	$68.1M	$73.6M

Business incomeForm 990-T, Part I

Line	FY25	FY24
Gross	$279K	$287K
Net	$279K	$287K
Tax	$0	$0

5Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$6.6M	$6.6M
Pay of officers and key staff (Part IX, line 5)Ln 5	$491K		$491K
Other salaries and wagesLn 7	$12.2M	$9.7M	$1.2M	$1.3M
Pension plan contributionsLn 8	$734K	$564K	$94K	$76K
Other employee benefitsLn 9	$1.9M	$1.5M	$198K	$203K
Payroll taxesLn 10	$879K	$675K	$113K	$92K
Management feesLn 11a	$15K	$15K
Legal feesLn 11b	$344K		$344K
Accounting feesLn 11c	$74K		$74K
Investment management feesLn 11f	$166K		$166K
Other fees for servicesLn 11g	$67K	$511	$66K
Advertising and promotionLn 12	$63K	$48K	$7K	$8K
Office expensesLn 13	$384K	$294K	$44K	$46K
Information technologyLn 14	$308K	$235K	$36K	$37K
OccupancyLn 16	$2.4M	$2.3M	$97K	$42K
TravelLn 17	$151K	$67K	$52K	$32K
InterestLn 20	$495K	$460K	$25K	$10K
Depreciation, depletion and amortizationLn 22	$3.2M	$2.9M	$158K	$63K
InsuranceLn 23	$680K	$608K	$45K	$27K
Other expenses (24a–d)Ln 24	$3.3M	$670K	$2.6M	$82K
All other expensesLn 24e	$718K	$550K	$83K	$86K
Total functional expensesLn 25	$35.3M	$27.3M	$5.9M	$2.1M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 LatestFiled with the IRS May 14, 2026	$43.4M	$36.6M	$6.8M	$81.9M	990 PDF
FY2024 ViewingFiled with the IRS May 15, 2025	$38.8M	$35.3M	$3.5M	$73.6M	990 PDF
FY2023	$34.3M	$32.8M	$1.5M	$68.1M	990 PDF
FY2022Filed with the IRS May 12, 2023	$32.1M	$30.7M	$1.4M	$64.0M	990 PDF
FY2021Filed with the IRS May 10, 2022	$32.5M	$29.7M	$2.8M	$68.1M	990 PDF
FY2020Filed with the IRS May 17, 2021	$31.5M	$28.9M	$2.6M	$60.6M	990 PDF

Schedules filed Part IV

A · Public support D · Assets and endowments I · Grants J · Pay M · Noncash O · Explanations

See the full FY2024 990

Part I · Summary $38,812,504 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $6,524,724$8,438,967

I-9 Program service revenuePrior year $27,240,206$28,665,509

I-10 Investment incomePrior year $311,839$1,484,723

I-11 Other revenuePrior year $210,385$223,305

I-12 Total revenuePrior year $34,287,154$38,812,504

I-13 Grants and similar amounts paidPrior year $6,050,579$6,647,007

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $15,033,998$16,236,772

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $11,688,314$12,383,938

I-18 Total expensesPrior year $32,772,891$35,267,717

I-19 Revenue less expensesPrior year $1,514,263$3,544,787

Part VI · Governance 30 of 30 board members independent, no flags

VI-1a Voting members of the governing body30

VI-1b Independent voting members30

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $38,812,504 across 11 lines filed

Lines not itemized here account for −$92,188 of total revenue; see the IRS return.

VIII-1c Fundraising events$28,083

VIII-1f All other contributions, gifts and grants$8,410,884

VIII-1g Noncash contributions (included above)$1,195,595

VIII-1h Total contributions, gifts and grants$8,438,967

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $28,665,509$28,665,509

VIII-3 Investment incomeExcluded from tax $986,458$986,458

VIII-6 Net rental income or lossExcluded from tax $21,224$21,224

VIII-7 Net gain or loss on sales of assetsExcluded from tax $498,265$498,265

VIII-8 Net income from fundraising eventsExcluded from tax −$7,858−$7,858

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $302,127$302,127

VIII-12 Total revenueRelated to mission $28,665,509 · Unrelated business $302,127 · Excluded from tax $1,405,901$38,812,504

Part IX · Statement of functional expenses $35,267,717 across 21 lines filed

IX-2 Grants to domestic individualsPrograms $6,647,007$6,647,007

IX-5 Pay of officers and key staff (Part IX, line 5)Management $490,641$490,641

IX-7 Other salaries and wagesPrograms $9,731,132 · Management $1,183,077 · Fundraising $1,320,043$12,234,252

IX-8 Pension plan contributionsPrograms $563,704 · Management $93,985 · Fundraising $76,467$734,156

IX-9 Other employee benefitsPrograms $1,497,288 · Management $198,374 · Fundraising $203,110$1,898,772

IX-10 Payroll taxesPrograms $674,880 · Management $112,522 · Fundraising $91,549$878,951

IX-11a Management feesPrograms $14,809$14,809

IX-11b Legal feesManagement $343,696$343,696

IX-11c Accounting feesManagement $74,458$74,458

IX-11f Investment management feesManagement $165,819$165,819

IX-11g Other fees for servicesPrograms $511 · Management $66,442$66,953

IX-12 Advertising and promotionPrograms $48,178 · Management $7,281 · Fundraising $7,511$62,970

IX-13 Office expensesPrograms $293,927 · Management $44,420 · Fundraising $45,825$384,172

IX-14 Information technologyPrograms $235,268 · Management $35,555 · Fundraising $36,680$307,503

IX-16 OccupancyPrograms $2,304,186 · Management $97,154 · Fundraising $41,990$2,443,330

IX-17 TravelPrograms $66,783 · Management $52,466 · Fundraising $31,954$151,203

IX-20 InterestPrograms $460,232 · Management $24,744 · Fundraising $9,897$494,873

IX-22 Depreciation, depletion and amortizationPrograms $2,929,548 · Management $157,503 · Fundraising $63,001$3,150,052

IX-23 InsurancePrograms $607,851 · Management $44,804 · Fundraising $26,958$679,613

IX-24 Other expenses (24a–d)Programs $669,702 · Management $2,574,258 · Fundraising $82,299$3,326,259

IX-24e All other expensesPrograms $549,511 · Management $83,045 · Fundraising $85,672$718,228

IX-25 Total functional expensesPrograms $27,294,517 · Management $5,850,244 · Fundraising $2,122,956$35,267,717

Part X · Balance sheet $97,647,779 assets, 19 lines filed

X-1 Cash, non-interest-bearingStart of year $5,088,577$8,659,371

X-3 Pledges and grants receivableStart of year $933,061$1,611,965

X-4 Accounts receivableStart of year $1,657,294$523,856

X-8 Inventories for sale or useStart of year $275,492$260,715

X-9 Prepaid expenses and deferred chargesStart of year $644,143$782,285

X-10c Land, buildings and equipment, netStart of year $49,688,700$47,818,503

X-11 Publicly traded securitiesStart of year $32,837,534$36,512,074

X-12 Other securitiesStart of year $844,837$813,987

X-15 Other assetsStart of year $703,474$665,023

X-16 Total assetsStart of year $92,673,112$97,647,779

X-17 Accounts payable and accrued expensesStart of year $1,657,954$1,569,296

X-19 Deferred revenueStart of year $5,172,733$5,312,558

X-20 Tax-exempt bond liabilitiesStart of year $17,467,293$16,867,133

X-25 Other liabilitiesStart of year $308,859$286,348

X-26 Total liabilitiesStart of year $24,606,839$24,035,335

X-27 Net assets without donor restrictionsStart of year $43,571,980$44,951,108

X-28 Net assets with donor restrictionsStart of year $24,494,293$28,661,336

X-32 Total net assets or fund balancesStart of year $68,066,273$73,612,444

X-33 Total liabilities and net assetsStart of year $92,673,112$97,647,779

Part XI · Reconciliation of net assets $73,612,444 net assets at year end

XI-1 Total revenue$38,812,504

XI-2 Total expenses$35,267,717

XI-3 Revenue less expenses$3,544,787

XI-4 Net assets at start of year$68,066,273

XI-5 Net unrealized gains (losses) on investments$2,116,691

XI-9 Other changes in net assets−$115,307

XI-10 Net assets at end of year$73,612,444

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

The names, titles, and financial information shown on this page are reproduced from IRS Form 990 filings, which are public records. More

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown. A filing can only be corrected by the organization filing an amended return with the IRS; the corrected information appears here at our next update.

We publish only information contained in the public IRS filing, and less than the filing contains. Our pages do not display home addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, contact the filing organization or the IRS directly.

Proctor Academy FY2024 filing

Before you give