Brewster Academy FY2021 filing

Wolfeboro, NH · Public charity (501(c)(3)) · Since 1887 · Education

✓ Tax-deductible Latest data FY2021
Revenue
$31.6M
▲ +6% vs prior year
Spent
$26.2M
To programs
80%
Net assets
$56.9M
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Form 990 for the fiscal year ending June 2021 (IRS tax year 2020).

Figures match the IRS filing checked 8/6/26 · see original: IRS

Status and standing

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
1 funder — Belisle Family Foundation INC
$10K in the latest grant year.
Spent on programs?
80% to programs
Form 990 Part IX, latest filing.
Size and trend
$10–100M
↑ +6% vs prior year
Legal name (IRS)Hdr · item CBrewster Academy
EINHdr · item D02-0223317
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJun 1946
Year of formationHdr · item L1887
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CWolfeboro, NH
NTEE classificationIRS BMFEducation (B250)
WebsiteHdr · item Jwww.brewsteracademy.org

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.80 Management & general $0.15 Fundraising $0.05
Program services80%$21.1M
Management & general15%$3.9M
Fundraising5%$1.2M
Total functional expensesLn 25$26.2M

Financial health

Revenue & expenses by yearFY2020–FY2025
Revenue
$31.6M
FY2021▲ +6%
Expenses
$26.2M
FY2021▼ -0.7%
Program efficiency
80%
of spending reaches programs
Operating runway
16.2mo
months of highly liquid reserves at operating expense rate
Surplus margin
+17%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Total assets
$87.1M
FY2021▲ +24%
Total liabilities
$30.2M
FY2021▲ +26%
Revenue less expensesPt I · Ln 19$5.4M
Total assetsPt X · Ln 16$87.1M
Program-expense ratioPt IX · col B80%
Voting members of governing bodyPt I · Ln 321
Independent voting membersPt I · Ln 421

Balance Sheet

Part X · end of year
CashLn 1$19.3M
Total assetsLn 16$87.1M
Total liabilitiesLn 26$30.2M
Total net assetsLn 32$56.9M
Months of cash on handcomputed8.8

Statement of Revenue

Part VIII
Program service revenue$24.4M · 77%
Contributions & grants$6.4M · 20%
Investment income$503K · 2%
Other revenue$281K · 1%
Program service revenue77%$24.4M
Contributions & grants20%$6.4M
Investment income2%$503K
Other revenue1%$281K
— government grantsLn 1e$1.8M
Total revenueLn 12$31.6M

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $35.2M · Operating expenses (Pt IX) $26.2M · Less non-cash grants $76K · Cash operating expenses/yr $26.2M
16.2 months
Where the money goes
Program services
Program services $21.1M · Total expenses $26.2M
80%
Management & General
Management & general $3.9M · Total expenses $26.2M
15%
Fundraising
Fundraising $1.2M · Total expenses $26.2M
5%
Cost to raise $1
Fundraising expense (2-yr avg) $1.3M · Solicited contributions (2-yr avg) $4.6M
$0.28 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $6.4M · Total revenue $31.6M
20%
Government reliance
Government grants $1.8M · Total revenue $31.6M
6%
Earned-income share
Program service revenue $24.4M · Total revenue $31.6M
77%
Investment reliance
Investment income $503K · Total revenue $31.6M
+2%
Program self-sufficiency
Program service revenue $24.4M · Total expenses $26.2M
93%
Growth & trend
Revenue growth (YoY)
This year $31.6M · Prior year $29.8M
+6%
Net-asset trend (YoY)
End of year $56.9M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $31.6M · Expenses $26.2M
+17%
Liabilities-to-Assets
Total liabilities — · Total assets $87.1M
—
Net-asset ratio
Net assets $56.9M · Total assets $87.1M
65%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $15.7M · Other securities (Pt X, ln 12) $296K · Total assets (Pt X, ln 16) $87.1M
18%
People & payroll
Highest Reported Total Compensation
Individual Craig Gemmell · Reported title Head of School · Highest reported compensation $617K · Total expenses $26.2M
2%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $11.5M · Total expenses $26.2M
44%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 80%——
Overhead ratio 15%——
Fundraising cost ratio 19%——
Revenue growth 6%——
Legal fee ratio 0.6%——
Accounting fee ratio 0.2%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Head of School
$616,622Pt VII · Sec A
Assoc. Head of School
$190,531Pt VII · Sec A
$151,316Pt VII · Sec A
Director of External Affairs
$150,479Pt VII · Sec A
Chief Technology & Ops. Officer
$142,978Pt VII · Sec A
Director of Admissions
$134,524Pt VII · Sec A
Assist. Head of School/Global Prgms
$125,380Pt VII · Sec A
Former CFO
$116,691Pt VII · Sec A

Kristy M Kerin’s $480K as Head of School is at the 87th 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Craig Gemmell$317,172$430,277$751,042$445,463$616,622$587,174
Kristy M Kerin$480,067$395,167$394,716$330,333$190,531$174,619
Susan Harrington$198,556$169,401$160,492$162,434$151,316$105,048
Peter Gilligan$194,197$181,416$164,648$155,130$142,978$108,054
Nicholas Wilbur$153,042$158,862$157,019———
James Reilly$155,414$156,583————
Nick Wilbur———$152,912$134,524$130,048
Lynne M Palmer————$150,479$142,659

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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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a21
Independent voting membersPt VI · Ln 1b21
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Mission and programs

Educates residential and day students.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

2 program services account for $21.1M of program spending, described in the organization's own filed words · FY2020.
01

Brewster Academy is a private high school that enrolls both boarding and day students. In addition to a broad educational curriculum, the school provides an extensive athletic program. The Brewster program is designed to meet students at their current level of performance and accelerate them in their mastery of skills and knowledge…

$20.7Mprogram expense
02

The Summer Program featured remote educational programs and conferences during the summer recess, including the Session and Royal Thai Scholars.

$421Kprogram expense

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Funders

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

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$10K
Grants paid · 5 grants · $12.7M · 2021–2024
Friends of Pop WhalenNH · FY2024$50,000
Friends of Pop WhalenNH · FY2023$50,000
Unitemized GrantFY2022$6,328,856
Friends of Pop WhalenNH · FY2022$12,500
Unitemized GrantFY2021$6,299,925

Filing history

YearRevenueExpensesChangeFiling
FY2025 Latest $35.9M$30.7M+16% 990 PDF
FY2024 $31.0M$30.3M-8% 990 PDF
FY2023 $33.8M$28.5M+3% 990 PDF
FY2022 $32.9M$27.9M+4% 990 PDF
FY2021 Viewing $31.6M$26.2M+6% 990 PDF
FY2020 $29.8M$26.4M 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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