St Pauls School FY2023 filing

Tax-deductible

Concord, NH501(c)(3)Since 1856EducationEIN 02-0222227Revenue $128.4M in FY2023

On file with the IRSsps.edu325 Pleasant St, 03301-2552 · Concord, NHTax-exempt since Sep 1954School — 170(b)(1)(A)(ii)

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St. Paul's School is a fully residential academic community. (see schedule o) in educating students to build purposeful lives in service to the greater good, St. Paul's School engages young people in a diverse, inclusive, and ethical community, dedicated to the pursuit of excellence in character and scholarship and inspired by the beauty and spirit of our millville home.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
$2.2M 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

FY2023 · 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
5 of 5
filings with a surplus
Average surplus $34.5M a year · 30% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.2M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
8
named funders · $200K
Looks good: 8 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$99.2M
10% of total assets
Looks good: liabilities are 10% of assets; 50% or less.
Pt X · Ln 26
Independent board members
22
of 23 voting members
Looks good: 22 of 23 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$128.4M
+9% vs prior year
Spent
$81.1M
To programs
80%
Net assets
$854.5M
By yearFY2021–FY2025
Revenue
$128.4M
FY2023▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2021$93.5M
FY2022$117.3M
FY2023$128.4M
FY2024$98.9M
FY2025$133.7M
Expenses
$81.1M
FY2023▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2021$70.2M
FY2022$73.4M
FY2023$81.1M
FY2024$85.6M
FY2025$89.1M
Net assets
$854.5M
FY2023▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2021$890.8M
FY2022$826.2M
FY2023$854.5M
FY2024$914.2M
FY2025$953.1M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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 Sep 1954.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $64.7M Management & general 14% · $11.3M Fundraising 6% · $5.2M

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

31 people listed on the 990; $2.2M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$849,701Pt VII · Sec A
Dean of Admissions (until 9/30/22)
$265,474Pt VII · Sec A
CFO & COO (until 9/03/22)
$262,064Pt VII · Sec A
Medical Director
$230,620Pt VII · Sec A
Chief Advancement Officer
$216,506Pt VII · Sec A
Vice Rector for Faculty
$203,955Pt VII · Sec A
Vice Rector of School Life
$200,365Pt VII · Sec A
$0Pt VII · Sec A

Kathy Giles’s $947K as Rector is at the 72nd percentile of top reported officer pay among 674 $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

NameFY2025FY2024FY2023FY2022FY2021
Kathy Giles$947,300$922,163$849,701$862,678$761,094
Mr Stephen Hietsch—$458,169———
Dr Caroline Brooks Seay Vice$378,277————
Michael G Hirschfeld————$356,107
Dr Caroline Brooks Seay—$13,269$262,064$348,121$325,356
Heather Farrell Associate——$265,474——
Dr John C Bassi$248,296$249,319$230,620$234,499$230,539
Scott P Bohan$242,216$228,223$216,506——

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates students in a residential community for purposeful lives of service and excellence.

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Provided by the organization

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2 programs · $64.7M · in their own filed words · FY2022
01

ST. Paul's school's primary program service is the education of students in grade 9 through 12, in a coeducational fully residential school environment. The school strives to be an inclusive, equitable, and richly diverse community, one that is committed to ensuring equal access to opportunities, as well as promoting individual growth…

$63.8Mprogram expense
02

ST. Paul's school founded the advanced studies program (asp) in 1958 to provide talented new hampshire public and parochial high school risking seniors with challenging educational opportunities otherwise unavailable to them. Each summer, young men and women live on the ST. Paul's school's campus for five and a half weeks.

$878Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2025
See all 8 funders →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$128.4M
Ln 12
Investment incomeLn 3$82.4M
Fees for servicesLn 2g$34.9M
Gifts and grantsLn 1h$10.9M
Money outPt IX
$81.1M
Ln 25
Programscol B$64.7M
Managementcol C$11.3M
Fundraisingcol D$5.2M
Owns and owesPt X
$854.5M
net assets · Ln 32
Cash and savingsLn 1–2$14.9M
Total assetsLn 16$953.8M
LiabilitiesLn 26$99.2M
PeoplePt VI, VII
31
listed · VII A
PaidVII A7
Voting boardVI 1a23
IndependentVI 1b22
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10.9M
Noncash giftsLn 1g$965K
Fees for servicesLn 2g$34.9M
Investment incomeLn 3$82.4M
Other incomeLn 4–11$176K
Gains on assetsLn 7$72.6M
Total revenueLn 12$128.4M
Assets in detailPt X, end of year
CashLn 1$6.4M
SavingsLn 2$8.6M
Cash and savings togetherLn 1–2$14.9M
InvestmentsLn 11–13$724.4M
Land, buildings, equipmentLn 10c$199.7M
Other assetsLn 15$9.0M
Total assetsLn 16$953.8M
LiabilitiesLn 26$99.2M
Net assetsLn 32$854.5M
OperationsPt I, VI
EmployeesI 5413
VolunteersI 622
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$9.9M$14.9M
InvestmentsLn 11–13$685.6M$724.4M
Land, buildings, equipmentLn 10c$197.0M$199.7M
Total assetsLn 16$908.2M$953.8M
LiabilitiesLn 26$82.0M$99.2M
Net assetsLn 32$826.2M$854.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$12.0M$12.0M
Pay of current officers, directors and key staffLn 5$855K$513K$252K$91K
Other salaries and wagesLn 7$27.7M$22.9M$2.4M$2.4M
Pension plan contributionsLn 8$2.8M$2.2M$264K$291K
Other employee benefitsLn 9$4.0M$2.3M$849K$846K
Payroll taxesLn 10$1.7M$991K$487K$175K
Legal feesLn 11b$336K$7K$328K$976
Accounting feesLn 11c$202K$20K$180K$2K
Investment management feesLn 11f$3.8M$3.8M
Other fees for servicesLn 11g$252K$60K$169K$23K
Office expensesLn 13$1.2M$466K$230K$509K
Information technologyLn 14$686K$529K$130K$28K
OccupancyLn 16$7.4M$6.7M$668K$26K
TravelLn 17$709K$557K$41K$111K
Conferences, conventions and meetingsLn 19$19K$19K
InterestLn 20$2.5M$2.3M$25K$99K
Depreciation, depletion and amortizationLn 22$9.2M$8.8M$157K$290K
InsuranceLn 23$1.2M$535K$646K$45K
Other expenses (24a–d)Ln 24$4.6M$3.7M$634K$247K
Total functional expensesLn 25$81.1M$64.7M$11.3M$5.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $133.7M$89.1M$44.6M$953.1M 990 PDF
FY2024 $98.9M$85.6M$13.3M$914.2M 990 PDF
FY2023 Viewing $128.4M$81.1M$47.3M$854.5M 990 PDF
FY2022 $117.3M$73.4M$44.0M$826.2M 990 PDF
FY2021 $93.5M$70.2M$23.3M$890.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $128,355,809 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $14,267,677$10,888,075
I-9 Program service revenuePrior year $34,764,822$34,883,277
I-10 Investment incomePrior year $68,134,820$82,408,543
I-11 Other revenuePrior year $149,278$175,914
I-12 Total revenuePrior year $117,316,597$128,355,809
I-13 Grants and similar amounts paidPrior year $12,134,654$12,037,698
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $33,878,299$36,973,373
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $27,351,305$32,084,646
I-18 Total expensesPrior year $73,364,258$81,095,717
I-19 Revenue less expensesPrior year $43,952,339$47,260,092
Part VI · Governance 22 of 23 board members independent, no flags
VI-1a Voting members of the governing body23
VI-1b Independent voting members22
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 $128,355,809 across 9 lines filed
VIII-1f All other contributions, gifts and grants$10,888,075
VIII-1g Noncash contributions (included above)$965,288
VIII-1h Total contributions, gifts and grants$10,888,075
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $34,883,277$34,883,277
VIII-3 Investment incomeUnrelated business −$487,272 · Excluded from tax $10,289,122$9,801,850
VIII-6 Net rental income or lossExcluded from tax $13,000$13,000
VIII-7 Net gain or loss on sales of assetsUnrelated business $76,401 · Excluded from tax $72,530,292$72,606,693
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $162,914$162,914
VIII-12 Total revenueRelated to mission $34,883,277 · Unrelated business −$410,871 · Excluded from tax $82,995,328$128,355,809
Part IX · Statement of functional expenses $81,095,717 across 19 lines filed
IX-2 Grants to domestic individualsPrograms $12,037,698$12,037,698
IX-5 Pay of current officers, directors and key staffPrograms $512,634 · Management $251,671 · Fundraising $90,690$854,995
IX-7 Other salaries and wagesPrograms $22,885,252 · Management $2,409,330 · Fundraising $2,392,834$27,687,416
IX-8 Pension plan contributionsPrograms $2,228,400 · Management $264,403 · Fundraising $290,843$2,783,646
IX-9 Other employee benefitsPrograms $2,298,877 · Management $849,103 · Fundraising $846,486$3,994,466
IX-10 Payroll taxesPrograms $991,008 · Management $486,523 · Fundraising $175,319$1,652,850
IX-11b Legal feesPrograms $7,158 · Management $327,983 · Fundraising $976$336,117
IX-11c Accounting feesPrograms $19,772 · Management $179,565 · Fundraising $2,421$201,758
IX-11f Investment management feesManagement $3,786,610$3,786,610
IX-11g Other fees for servicesPrograms $60,491 · Management $168,816 · Fundraising $22,814$252,121
IX-13 Office expensesPrograms $465,848 · Management $229,535 · Fundraising $508,524$1,203,907
IX-14 Information technologyPrograms $528,707 · Management $129,949 · Fundraising $27,580$686,236
IX-16 OccupancyPrograms $6,705,820 · Management $667,632 · Fundraising $26,374$7,399,826
IX-17 TravelPrograms $557,003 · Management $41,189 · Fundraising $111,077$709,269
IX-19 Conferences, conventions and meetingsPrograms $18,583$18,583
IX-20 InterestPrograms $2,349,564 · Management $24,732 · Fundraising $98,929$2,473,225
IX-22 Depreciation, depletion and amortizationPrograms $8,792,848 · Management $157,109 · Fundraising $290,432$9,240,389
IX-23 InsurancePrograms $535,468 · Management $645,653 · Fundraising $45,256$1,226,377
IX-24 Other expenses (24a–d)Programs $3,669,148 · Management $634,038 · Fundraising $247,042$4,550,228
IX-25 Total functional expensesPrograms $64,664,279 · Management $11,253,841 · Fundraising $5,177,597$81,095,717
Part X · Balance sheet $953,754,407 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $9,868,565$6,367,837
X-2 Savings and temporary cash investments$8,550,226
X-3 Pledges and grants receivableStart of year $4,476,053$3,499,465
X-4 Accounts receivableStart of year $310,314$387,063
X-8 Inventories for sale or useStart of year $183,488$168,532
X-9 Prepaid expenses and deferred chargesStart of year $1,677,707$1,667,635
X-10c Land, buildings and equipment, netStart of year $196,982,334$199,738,700
X-11 Publicly traded securitiesStart of year $48,909,691$141,883,001
X-12 Other securitiesStart of year $636,724,876$582,526,392
X-15 Other assetsStart of year $9,035,235$8,965,556
X-16 Total assetsStart of year $908,168,263$953,754,407
X-17 Accounts payable and accrued expensesStart of year $5,383,359$8,164,556
X-20 Tax-exempt bond liabilitiesStart of year $65,326,761$81,436,622
X-25 Other liabilitiesStart of year $11,272,644$9,638,339
X-26 Total liabilitiesStart of year $81,982,764$99,239,517
X-27 Net assets without donor restrictionsStart of year $304,112,856$308,469,884
X-28 Net assets with donor restrictionsStart of year $522,072,643$546,045,006
X-32 Total net assets or fund balancesStart of year $826,185,499$854,514,890
X-33 Total liabilities and net assetsStart of year $908,168,263$953,754,407
Part XI · Reconciliation of net assets $854,514,890 net assets at year end
XI-1 Total revenue$128,355,809
XI-2 Total expenses$81,095,717
XI-3 Revenue less expenses$47,260,092
XI-4 Net assets at start of year$826,185,499
XI-5 Net unrealized gains (losses) on investments−$20,709,719
XI-9 Other changes in net assets$1,779,018
XI-10 Net assets at end of year$854,514,890

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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