Brewster Academy FY2024 filing

Tax-deductible

Wolfeboro, NH501(c)(3)Since 1887EducationEIN 02-0223317

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To provide education to residential and day students.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$1.7M 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
6 of 6
filings with a surplus
Average surplus $4.2M a year · 13% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 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
$1.7M
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
8 mo
of spending, in cash
Looks good: 7.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$29.5M
30% of total assets
Looks good: liabilities are 30% of assets; 50% or less.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$31.0M
-8% vs prior year
Spent
$30.3M
To programs
84%
Net assets
$68.6M
By yearFY2020–FY2025
Revenue
$31.0M
FY2024▼ -8%
Revenue by fiscal year
FY2020$29.8M
FY2021$31.6M
FY2022$32.9M
FY2023$33.8M
FY2024$31.0M
FY2025$35.9M
Expenses
$30.3M
FY2024▲ +6%
Expenses by fiscal year
FY2020$26.4M
FY2021$26.2M
FY2022$27.9M
FY2023$28.5M
FY2024$30.3M
FY2025$30.7M
Net assets
$68.6M
FY2024▲ +6%
Net assets by fiscal year
FY2020$46.3M
FY2021$56.9M
FY2022$58.3M
FY2023$64.9M
FY2024$68.6M
FY2025$76.8M

From the FY2024 Form 990 (year ending June 2024) · 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 Jun 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% · $25.4M Management & general 13% · $3.8M Fundraising 3% · $1.0M

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

32 people listed on the 990; $1.7M 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
President
$430,277Pt VII · Sec A
Head of School
$395,167Pt VII · Sec A
Chief Tech. & Operations Officer
$181,416Pt VII · Sec A
Chief Financial Officer
$169,401Pt VII · Sec A
Director of Enrollment Management
$158,862Pt VII · Sec A
Asst. Head of School - Campus Life
$156,583Pt VII · Sec A
Director of Finance/Financial Aid
$120,379Pt VII · Sec A
Director of Advancement
$108,368Pt 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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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 15aYes

Programs and updates

Educates residential and day students.

Provided by the organization

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2 program services account for $25.4M of program spending, described in the organization's own filed words · FY2023.
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…

$25.1Mprogram expense
02

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

$334Kprogram expense

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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
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

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$31.0M
Ln 12
Fees for servicesLn 2g$26.7M
Gifts and grantsLn 1h$2.9M
Investment incomeLn 3$1.2M
Money outPt IX
$30.3M
Ln 25
Programscol B$25.4M
Managementcol C$3.8M
Fundraisingcol D$1.0M
Owns and owesPt X
$68.6M
net assets · Ln 32
Cash and savingsLn 1–2$19.1M
Total assetsLn 16$98.1M
LiabilitiesLn 26$29.5M
PeoplePt VI, VII
32
listed · VII A
PaidVII A8
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.9M
Government grantsLn 1e$30K
Noncash giftsLn 1g$22K
Fundraising eventsLn 1c$47K
Fees for servicesLn 2g$26.7M
Investment incomeLn 3$1.2M
Other incomeLn 4–11$285K
Gains on assetsLn 7$11K
Total revenueLn 12$31.0M
Assets in detailPt X, end of year
CashLn 1$1.3M
SavingsLn 2$17.7M
Cash and savings togetherLn 1–2$19.1M
InvestmentsLn 11–13$16.2M
Land, buildings, equipmentLn 10c$50.6M
Other assetsLn 15$10.7M
Total assetsLn 16$98.1M
LiabilitiesLn 26$29.5M
Net assetsLn 32$68.6M
OperationsPt I, VI
EmployeesI 5249
VolunteersI 625
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 FY24End FY24
Cash and savingsLn 1–2$22.0M$19.1M
InvestmentsLn 11–13$13.6M$16.2M
Land, buildings, equipmentLn 10c$47.3M$50.6M
Total assetsLn 16$94.7M$98.1M
LiabilitiesLn 26$29.8M$29.5M
Net assetsLn 32$64.9M$68.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$50K$50K
Grants to domestic individualsLn 2$6.8M$6.8M
Pay of current officers, directors and key staffLn 5$1.2M$1.2M
Other salaries and wagesLn 7$8.8M$7.4M$761K$614K
Pension plan contributionsLn 8$462K$424K$37K
Other employee benefitsLn 9$1.7M$1.6M$14K$85K
Payroll taxesLn 10$691K$533K$116K$42K
Legal feesLn 11b$20K$20K
Accounting feesLn 11c$47K$47K
Other fees for servicesLn 11g$1.8M$1.4M$407K$55K
Advertising and promotionLn 12$47K$47K
Office expensesLn 13$646K$455K$154K$37K
Information technologyLn 14$340K$340K
OccupancyLn 16$1.2M$1.2M$8K$8K
TravelLn 17$735K$593K$91K$50K
InterestLn 20$482K$421K$61K
Depreciation, depletion and amortizationLn 22$2.3M$2.3M$44K
InsuranceLn 23$486K$98K$388K
Other expenses (24a–d)Ln 24$2.4M$1.8M$446K$112K
Total functional expensesLn 25$30.3M$25.4M$3.8M$1.0M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $35.9M$30.7M$5.3M$76.8M 990 PDF
FY2024 Viewing $31.0M$30.3M$716K$68.6M 990 PDF
FY2023 $33.8M$28.5M$5.2M$64.9M 990 PDF
FY2022 $32.9M$27.9M$5.1M$58.3M 990 PDF
FY2021 $31.6M$26.2M$5.4M$56.9M 990 PDF
FY2020 $29.8M$26.4M$3.4M$46.3M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $31,029,626 across 11 lines filed
Lines not itemized here account for $1,400 of total revenue; see the IRS return.
VIII-1c Fundraising events$47,320
VIII-1e Government grants$29,741
VIII-1f All other contributions, gifts and grants$2,820,994
VIII-1g Noncash contributions (included above)$21,789
VIII-1h Total contributions, gifts and grants$2,898,055
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $26,610,044 · Unrelated business $51,949$26,661,993
VIII-3 Investment incomeExcluded from tax $1,174,307$1,174,307
VIII-7 Net gain or loss on sales of assetsExcluded from tax $10,638$10,638
VIII-8 Net income from fundraising eventsExcluded from tax −$12,415−$12,415
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $295,648$295,648
VIII-12 Total revenueRelated to mission $26,610,044 · Unrelated business $51,949 · Excluded from tax $1,469,578$31,029,626
Part IX · Statement of functional expenses $30,314,101 across 19 lines filed
IX-1 Grants to domestic organizationsPrograms $50,000$50,000
IX-2 Grants to domestic individualsPrograms $6,813,005$6,813,005
IX-5 Pay of current officers, directors and key staffManagement $1,245,221$1,245,221
IX-7 Other salaries and wagesPrograms $7,397,405 · Management $761,024 · Fundraising $613,972$8,772,401
IX-8 Pension plan contributionsPrograms $424,431 · Fundraising $37,215$461,646
IX-9 Other employee benefitsPrograms $1,647,486 · Management $14,498 · Fundraising $84,905$1,746,889
IX-10 Payroll taxesPrograms $533,405 · Management $116,020 · Fundraising $41,514$690,939
IX-11b Legal feesManagement $20,208$20,208
IX-11c Accounting feesManagement $46,600$46,600
IX-11g Other fees for servicesPrograms $1,351,940 · Management $406,564 · Fundraising $54,577$1,813,081
IX-12 Advertising and promotionManagement $46,534$46,534
IX-13 Office expensesPrograms $455,322 · Management $153,788 · Fundraising $36,547$645,657
IX-14 Information technologyPrograms $340,151$340,151
IX-16 OccupancyPrograms $1,213,331 · Management $8,028 · Fundraising $8,028$1,229,387
IX-17 TravelPrograms $593,255 · Management $91,398 · Fundraising $50,485$735,138
IX-20 InterestPrograms $421,091 · Management $60,838$481,929
IX-22 Depreciation, depletion and amortizationPrograms $2,292,537 · Management $44,327$2,336,864
IX-23 InsurancePrograms $97,603 · Management $388,283$485,886
IX-24 Other expenses (24a–d)Programs $1,795,193 · Management $445,765 · Fundraising $111,607$2,352,565
IX-25 Total functional expensesPrograms $25,426,155 · Management $3,849,096 · Fundraising $1,038,850$30,314,101
Part X · Balance sheet $98,088,026 assets, 21 lines filed
X-1 Cash, non-interest-bearingStart of year $223,817$1,341,731
X-2 Savings and temporary cash investmentsStart of year $21,735,210$17,711,555
X-3 Pledges and grants receivableStart of year $316,860$153,990
X-4 Accounts receivableStart of year $634,347$346,791
X-8 Inventories for sale or useStart of year $59,569$90,416
X-9 Prepaid expenses and deferred chargesStart of year $296,214$227,642
X-10c Land, buildings and equipment, netStart of year $47,253,251$50,597,879
X-11 Publicly traded securitiesStart of year $13,283,415$15,872,905
X-12 Other securitiesStart of year $326,291$326,291
X-14 Intangible assetsStart of year $1,197,917$714,868
X-15 Other assetsStart of year $9,410,682$10,703,958
X-16 Total assetsStart of year $94,737,573$98,088,026
X-17 Accounts payable and accrued expensesStart of year $2,372,131$1,152,260
X-19 Deferred revenueStart of year $7,456,072$8,167,711
X-20 Tax-exempt bond liabilitiesStart of year $17,294,785$16,734,650
X-25 Other liabilitiesStart of year $1,329,891$1,224,460
X-26 Total liabilitiesStart of year $29,806,160$29,470,235
X-27 Net assets without donor restrictionsStart of year $36,763,647$40,929,208
X-28 Net assets with donor restrictionsStart of year $28,167,766$27,688,583
X-32 Total net assets or fund balancesStart of year $64,931,413$68,617,791
X-33 Total liabilities and net assetsStart of year $94,737,573$98,088,026
Part XI · Reconciliation of net assets $68,617,791 net assets at year end
XI-1 Total revenue$31,029,626
XI-2 Total expenses$30,314,101
XI-3 Revenue less expenses$715,525
XI-4 Net assets at start of year$64,931,413
XI-5 Net unrealized gains (losses) on investments$2,545,294
XI-9 Other changes in net assets$425,559
XI-10 Net assets at end of year$68,617,791

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

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