An independent, coeducational, preparatory School serving students grades 9-12 and post-graduates.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
Run by 60 volunteers and 113 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
3 of 5
filings with a surplus
Average surplus $1.4M a year · 7% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$761K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Fine: 0.5 months of spending in cash, plus $14.5M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $209
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$23.8M
44% of total assets
Looks good: liabilities are 44% of assets; 50% or less.
Pt X · Ln 26
Independent board members
17
of 19 voting members
Looks good: 17 of 19 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$14.1M
-27% vs prior year
Spent
$20.0M
To programs
84%
Net assets
$30.2M
By yearFY2021–FY2025
Revenue
$14.1M
FY2025▼ -27%
Tap a bar for its year
Revenue by fiscal year
FY2021$18.2M
FY2022$28.4M
FY2023$18.5M
FY2024$19.3M
FY2025$14.1M
Expenses
$20.0M
FY2025▲ +1%
Tap a bar for its year
Expenses by fiscal year
FY2021$16.6M
FY2022$17.6M
FY2023$17.7M
FY2024$19.7M
FY2025$20.0M
Net assets
$30.2M
FY2025▼ -14%
Tap a bar for its year
Net assets by fiscal year
FY2021$21.0M
FY2022$32.2M
FY2023$33.7M
FY2024$35.2M
FY2025$30.2M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

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

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $16.7M Management & general 11% · $2.2M Fundraising 5% · $1.1M

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

25 people listed on the 990; $761K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Former Head of School
$235,028Pt VII · Sec A
Head of School
$210,175Pt VII · Sec A
Director of Finance and Operations
$152,516Pt VII · Sec A
Director of Advancement
$118,419Pt VII · Sec A
Faculty Representative
$45,225Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Katherine Saunders’s $235K as Former Head of School is at the 48th 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

NameFY2025FY2024FY2023FY2022FY2021
Peter Saliba————$267,685
David Thiel——$122,200$257,382$122,393
Katherine Saunders$235,028$235,180$230,821$164,897$126,935
Derek Krein$210,175————
Glen Waring$152,516$145,776$139,673$36,889—
John Agnello$118,419————
Tracy White———$106,628—
Kathleen Howe————$63,888

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 high school and post-graduate students in grades 9-12.

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Provided by the organization

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1 program · $16.7M · in their own filed words · FY2024
01

Tilton school is an independent, coeducational, college preparatory school serving students from 9TH through 12TH grade and post-graduates. Tilton's student body of 176 consists of 43 day students and 133 boarding students from 19 states and 21 countries.

$16.7Mprogram 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
Total grants receivedfrom 1 funder$209

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$14.1M
Ln 12
Fees for servicesLn 2g$11.9M
Gifts and grantsLn 1h$1.5M
Investment incomeLn 3$782K
Money outPt IX
$20.0M
Ln 25
Programscol B$16.7M
Managementcol C$2.2M
Fundraisingcol D$1.1M
Owns and owesPt X
$30.2M
net assets · Ln 32
Cash and savingsLn 1–2$799K
Total assetsLn 16$54.1M
LiabilitiesLn 26$23.8M
PeoplePt VI, VII
25
listed · VII A
PaidVII A5
Voting boardVI 1a19
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.5M
Noncash giftsLn 1g$112K
Fees for servicesLn 2g$11.9M
Investment incomeLn 3$782K
Gains on assetsLn 7$341K
Total revenueLn 12$14.1M
Assets in detailPt X, end of year
CashLn 1$383K
SavingsLn 2$415K
Cash and savings togetherLn 1–2$799K
InvestmentsLn 11–13$14.5M
Land, buildings, equipmentLn 10c$37.8M
Other assetsLn 15$74K
Total assetsLn 16$54.1M
LiabilitiesLn 26$23.8M
Net assetsLn 32$30.2M
OperationsPt I, VI
EmployeesI 5113
VolunteersI 660
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 FY25End FY25
Cash and savingsLn 1–2$2.2M$799K
InvestmentsLn 11–13$15.2M$14.5M
Land, buildings, equipmentLn 10c$35.6M$37.8M
Total assetsLn 16$53.7M$54.1M
LiabilitiesLn 26$18.5M$23.8M
Net assetsLn 32$35.2M$30.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$3.5M$3.5M
Grants and assistance to foreign recipientsLn 3$1.1M$1.1M
Pay of current officers, directors and key staffLn 5$824K$231K$367K$226K
Other salaries and wagesLn 7$3.7M$3.1M$453K$228K
Pension plan contributionsLn 8$219K$158K$44K$18K
Other employee benefitsLn 9$658K$525K$92K$41K
Payroll taxesLn 10$326K$234K$61K$32K
Legal feesLn 11b$64K$64K
Accounting feesLn 11c$79K$79K
Investment management feesLn 11f$58K$58K
Other fees for servicesLn 11g$2.7M$2.2M$430K$133K
Advertising and promotionLn 12$158K$158K
Office expensesLn 13$68K$68K
OccupancyLn 16$1.6M$1.3M$200K$82K
TravelLn 17$110K$110K
InterestLn 20$763K$644K$76K$42K
Depreciation, depletion and amortizationLn 22$2.5M$2.2M$178K$99K
InsuranceLn 23$286K$286K
Other expenses (24a–d)Ln 24$1.3M$1.1M$19K$176K
All other expensesLn 24e$17K$8K$9K
Total functional expensesLn 25$20.0M$16.7M$2.2M$1.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $14.1M$20.0M−$5.8M$30.2M 990 PDF
FY2024 $19.3M$19.7M−$362K$35.2M 990 PDF
FY2023 $18.5M$17.7M$810K$33.7M 990 PDF
FY2022 $28.4M$17.6M$10.8M$32.2M 990 PDF
FY2021 $18.2M$16.6M$1.6M$21.0M 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 F · Foreign M · Noncash J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $14,149,226 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $6,500,176$1,495,386
I-9 Program service revenuePrior year $12,149,614$11,872,225
I-10 Investment incomePrior year $699,474$781,615
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $19,349,264$14,149,226
I-13 Grants and similar amounts paidPrior year $4,758,070$4,562,146
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $6,084,437$5,759,028
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $8,868,977$9,629,444
I-18 Total expensesPrior year $19,711,484$19,950,618
I-19 Revenue less expensesPrior year −$362,220−$5,801,392
Part VI · Governance 17 of 19 board members independent, no flags
VI-1a Voting members of the governing body19
VI-1b Independent voting members17
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 $14,149,226 across 7 lines filed
VIII-1f All other contributions, gifts and grants$1,495,386
VIII-1g Noncash contributions (included above)$111,538
VIII-1h Total contributions, gifts and grants$1,495,386
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $11,872,225$11,872,225
VIII-3 Investment incomeExcluded from tax $440,585$440,585
VIII-7 Net gain or loss on sales of assetsExcluded from tax $341,030$341,030
VIII-12 Total revenueRelated to mission $11,872,225 · Unrelated business $0 · Excluded from tax $781,615$14,149,226
Part IX · Statement of functional expenses $19,950,618 across 20 lines filed
IX-2 Grants to domestic individualsPrograms $3,466,323$3,466,323
IX-3 Grants and assistance to foreign recipientsPrograms $1,095,823$1,095,823
IX-5 Pay of current officers, directors and key staffPrograms $230,616 · Management $367,169 · Fundraising $226,451$824,236
IX-7 Other salaries and wagesPrograms $3,050,621 · Management $453,014 · Fundraising $228,105$3,731,740
IX-8 Pension plan contributionsPrograms $157,597 · Management $43,777 · Fundraising $17,511$218,885
IX-9 Other employee benefitsPrograms $525,499 · Management $91,841 · Fundraising $40,553$657,893
IX-10 Payroll taxesPrograms $233,885 · Management $60,861 · Fundraising $31,528$326,274
IX-11b Legal feesManagement $64,390$64,390
IX-11c Accounting feesManagement $78,855$78,855
IX-11f Investment management feesManagement $57,771$57,771
IX-11g Other fees for servicesPrograms $2,155,744 · Management $429,546 · Fundraising $132,911$2,718,201
IX-12 Advertising and promotionPrograms $157,736$157,736
IX-13 Office expensesManagement $67,970$67,970
IX-16 OccupancyPrograms $1,277,385 · Management $200,118 · Fundraising $81,771$1,559,274
IX-17 TravelPrograms $110,439$110,439
IX-20 InterestPrograms $644,398 · Management $76,157 · Fundraising $42,461$763,016
IX-22 Depreciation, depletion and amortizationPrograms $2,206,603 · Management $178,350 · Fundraising $99,438$2,484,391
IX-23 InsurancePrograms $286,121$286,121
IX-24 Other expenses (24a–d)Programs $1,069,220 · Management $19,147 · Fundraising $176,232$1,264,599
IX-24e All other expensesPrograms $7,528 · Fundraising $9,153$16,681
IX-25 Total functional expensesPrograms $16,675,538 · Management $2,188,966 · Fundraising $1,086,114$19,950,618
Part X · Balance sheet $54,051,414 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $1,630,678$383,435
X-2 Savings and temporary cash investmentsStart of year $525,625$415,307
X-3 Pledges and grants receivableStart of year $316,170$126,160
X-4 Accounts receivableStart of year $24,709$433,068
X-8 Inventories for sale or useStart of year $43,757$55,773
X-9 Prepaid expenses and deferred chargesStart of year $352,622$313,535
X-10c Land, buildings and equipment, netStart of year $35,554,042$37,774,666
X-11 Publicly traded securitiesStart of year $15,097,361$14,375,541
X-12 Other securitiesStart of year $86,280$99,527
X-15 Other assetsStart of year $81,595$74,402
X-16 Total assetsStart of year $53,712,839$54,051,414
X-17 Accounts payable and accrued expensesStart of year $1,586,609$2,056,953
X-19 Deferred revenueStart of year $2,279,874$2,744,956
X-20 Tax-exempt bond liabilitiesStart of year $13,557,494$15,515,616
X-25 Other liabilitiesStart of year $827,305$598,013
X-26 Total liabilitiesStart of year $18,514,548$23,801,742
X-27 Net assets without donor restrictionsStart of year $23,700,811$21,208,426
X-28 Net assets with donor restrictionsStart of year $11,497,480$9,041,246
X-32 Total net assets or fund balancesStart of year $35,198,291$30,249,672
X-33 Total liabilities and net assetsStart of year $53,712,839$54,051,414
Part XI · Reconciliation of net assets $30,249,672 net assets at year end
XI-1 Total revenue$14,149,226
XI-2 Total expenses$19,950,618
XI-3 Revenue less expenses−$5,801,392
XI-4 Net assets at start of year$35,198,291
XI-5 Net unrealized gains (losses) on investments$630,288
XI-9 Other changes in net assets$222,485
XI-10 Net assets at end of year$30,249,672

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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