Putney School INC: Nonprofit Profile, Financials & Form 990 (EIN 03-0179305)

Revenue by fiscal year
FY2021	$24.9M
FY2022	$23.0M
FY2023	$19.6M
FY2024	$23.3M
FY2025	$29.0M

Expenses by fiscal year
FY2021	$17.0M
FY2022	$18.4M
FY2023	$19.1M
FY2024	$20.8M
FY2025	$21.9M

Net assets by fiscal year
FY2021	$60.6M
FY2022	$59.9M
FY2023	$61.6M
FY2024	$65.6M
FY2025	$74.7M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1937.

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

Where the money goes

78 cents of each dollar spent went to programs.

78%

19%

Program services 78% · $17.1M Management & general 19% · $4.1M Fundraising 3% · $680K

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

30 people listed on the 990; $989K 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

Daniel O'Brien

Head of School/Trustee

$318,824Pt VII · Sec A

Stephanie Harkins

Treasurer/Cfoo

$154,903Pt VII · Sec A

Kayla Yannatos

Director of Development

$129,805Pt VII · Sec A

Kevin Champney

Director of Technology

$123,644Pt VII · Sec A

Daniel Folgar

Director of Summer Programs

$101,280Pt VII · Sec A

Katy Wolfe

Clerk

$61,783Pt VII · Sec A

Abigail Verney-Fink

Faculty Trustee

$53,941Pt VII · Sec A

Carol Hodgman

Faculty Trustee

$44,379Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021
Daniel O'Brien	$318,824	$308,064	$190,074	—	—
Randall Smith	—	$208,665	$174,335	$154,697	$160,100
Emily Jones	—	—	$112,705	$205,341	$200,000
Stephanie Harkins	$154,903	$125,309	$106,711	—	—
John Barrengos	—	$154,386	$135,567	$127,844	—
Kayla Yannatos	$129,805	$128,802	$116,061	—	—
Kevin Champney	$123,644	—	$101,731	—	—
Hugh Montgomery	—	—	—	$121,235	—

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 students in a coeducational boarding and day secondary school.

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Provided by the organization

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1 program · $17.1M · in their own filed words · FY2024

01

The putney school provides an educational program for approximately 165 boarding and 61 day high school students.

$17.1Mprogram 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

CincoFY2025$140K

Edwin S Webster FoundationFY2025$50K

Shinnyo-En FoundationFY2025$10K

Jason and Janie Konidaris FamilyfoundationFY2025$4K

Total grants receivedfrom 4 funders$204K

See all 4 funders →

Grants paid · 4 grants · $16.0M · 2021–2024

Unitemized GrantFY2024$3,887,333

Unitemized GrantFY2023$4,515,199

Unitemized GrantFY2022$3,671,061

Unitemized GrantFY2021$3,902,707

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$29.0M

Ln 12

Fees for servicesLn 2g$17.0M

Investment incomeLn 3$6.3M

Gifts and grantsLn 1h$5.6M

Money outPt IX

$21.9M

Ln 25

Programscol B$17.1M

Managementcol C$4.1M

Fundraisingcol D$680K

Owns and owesPt X

$74.7M

net assets · Ln 32

Cash and savingsLn 1–2$5.4M

Total assetsLn 16$83.0M

LiabilitiesLn 26$8.3M

PeoplePt VI, VII

30

listed · VII A

PaidVII A8

Voting boardVI 1a25

IndependentVI 1b22

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$5.6M

Noncash giftsLn 1g$1.0M

Fees for servicesLn 2g$17.0M

Investment incomeLn 3$6.3M

Other incomeLn 4–11$194K

Gains on assetsLn 7$5.3M

Total revenueLn 12$29.0M

Assets in detailPt X, end of year

CashLn 1$5.3M

SavingsLn 2$30K

Cash and savings togetherLn 1–2$5.4M

InvestmentsLn 11–13$43.6M

Land, buildings, equipmentLn 10c$31.5M

Other assetsLn 15$546K

Total assetsLn 16$83.0M

LiabilitiesLn 26$8.3M

Net assetsLn 32$74.7M

OperationsPt I, VI

EmployeesI 5285

VolunteersI 6210

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$2.8M	$5.4M
InvestmentsLn 11–13	$40.8M	$43.6M
Land, buildings, equipmentLn 10c	$32.0M	$31.5M
Total assetsLn 16	$78.6M	$83.0M
LiabilitiesLn 26	$13.0M	$8.3M
Net assetsLn 32	$65.6M	$74.7M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$3.9M	$3.9M
Pay of current officers, directors and key staffLn 5	$881K	$354K	$440K	$87K
Other salaries and wagesLn 7	$6.4M	$5.2M	$817K	$385K
Pension plan contributionsLn 8	$350K	$283K	$37K	$30K
Other employee benefitsLn 9	$1.6M	$1.5M	$116K	$51K
Payroll taxesLn 10	$513K	$400K	$81K	$32K
Legal feesLn 11b	$50K		$50K
Accounting feesLn 11c	$131K		$131K
Investment management feesLn 11f	$174K		$174K
Other fees for servicesLn 11g	$547K	$487K	$58K	$3K
Advertising and promotionLn 12	$352K	$19K	$333K
Office expensesLn 13	$886K	$808K	$39K	$39K
Information technologyLn 14	$315K	$177K	$115K	$23K
OccupancyLn 16	$1.4M	$1.3M	$63K
TravelLn 17	$274K	$97K	$159K	$17K
InterestLn 20	$324K		$324K
Depreciation, depletion and amortizationLn 22	$2.0M	$1.8M	$168K
InsuranceLn 23	$423K	$14K	$410K
Other expenses (24a–d)Ln 24	$582K	$574K	$8K
All other expensesLn 24e	$741K	$156K	$572K	$13K
Total functional expensesLn 25	$21.9M	$17.1M	$4.1M	$680K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$29.0M	$21.9M	$7.1M	$74.7M	990 PDF
FY2024	$23.3M	$20.8M	$2.6M	$65.6M	990 PDF
FY2023	$19.6M	$19.1M	$526K	$61.6M	990 PDF
FY2022	$23.0M	$18.4M	$4.6M	$59.9M	990 PDF
FY2021	$24.9M	$17.0M	$7.9M	$60.6M	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 M · Noncash J · Pay O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $29,019,597 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $4,296,130$5,577,603

I-9 Program service revenuePrior year $16,855,228$16,950,333

I-10 Investment incomePrior year $2,137,638$6,297,859

I-11 Other revenuePrior year $32,278$193,802

I-12 Total revenuePrior year $23,321,274$29,019,597

I-13 Grants and similar amounts paidPrior year $4,515,199$3,887,333

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

I-15 Salaries and benefitsPrior year $8,851,439$9,822,210

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

I-17 Other expensesPrior year $7,391,719$8,167,124

I-18 Total expensesPrior year $20,758,357$21,876,667

I-19 Revenue less expensesPrior year $2,562,917$7,142,930

Part VI · Governance 22 of 25 board members independent, 1 to look at

VI-1a Voting members of the governing body25

VI-1b Independent voting members22

VI-2 Family or business relationship among officers or directorsYes

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 $29,019,597 across 8 lines filed

Lines not itemized here account for $12,115 of total revenue; see the IRS return.

VIII-1f All other contributions, gifts and grants$5,577,603

VIII-1g Noncash contributions (included above)$1,011,322

VIII-1h Total contributions, gifts and grants$5,577,603

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $16,902,928 · Unrelated business $47,405$16,950,333

VIII-3 Investment incomeExcluded from tax $1,043,336$1,043,336

VIII-7 Net gain or loss on sales of assetsExcluded from tax $5,254,523$5,254,523

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $18,780 · Excluded from tax $162,907$181,687

VIII-12 Total revenueRelated to mission $16,932,063 · Unrelated business $47,405 · Excluded from tax $6,462,526$29,019,597

Part IX · Statement of functional expenses $21,876,667 across 20 lines filed

IX-2 Grants to domestic individualsPrograms $3,887,333$3,887,333

IX-5 Pay of current officers, directors and key staffPrograms $354,321 · Management $440,071 · Fundraising $87,037$881,429

IX-7 Other salaries and wagesPrograms $5,245,722 · Management $816,589 · Fundraising $385,076$6,447,387

IX-8 Pension plan contributionsPrograms $283,019 · Management $36,982 · Fundraising $30,320$350,321

IX-9 Other employee benefitsPrograms $1,461,996 · Management $116,279 · Fundraising $51,361$1,629,636

IX-10 Payroll taxesPrograms $400,353 · Management $80,906 · Fundraising $32,178$513,437

IX-11b Legal feesManagement $49,625$49,625

IX-11c Accounting feesManagement $130,583$130,583

IX-11f Investment management feesManagement $174,476$174,476

IX-11g Other fees for servicesPrograms $486,722 · Management $58,011 · Fundraising $2,585$547,318

IX-12 Advertising and promotionPrograms $18,865 · Management $333,029$351,894

IX-13 Office expensesPrograms $808,305 · Management $38,878 · Fundraising $38,566$885,749

IX-14 Information technologyPrograms $176,696 · Management $115,366 · Fundraising $22,932$314,994

IX-16 OccupancyPrograms $1,332,395 · Management $63,162$1,395,557

IX-17 TravelPrograms $97,289 · Management $159,275 · Fundraising $17,440$274,004

IX-20 InterestManagement $324,367$324,367

IX-22 Depreciation, depletion and amortizationPrograms $1,804,254 · Management $168,426$1,972,680

IX-23 InsurancePrograms $13,598 · Management $409,709$423,307

IX-24 Other expenses (24a–d)Programs $573,995 · Management $7,833$581,828

IX-24e All other expensesPrograms $155,931 · Management $572,137 · Fundraising $12,674$740,742

IX-25 Total functional expensesPrograms $17,100,794 · Management $4,095,704 · Fundraising $680,169$21,876,667

Part X · Balance sheet $82,980,350 assets, 19 lines filed

X-1 Cash, non-interest-bearingStart of year $2,800,222$5,345,289

X-2 Savings and temporary cash investmentsStart of year $20,375$29,769

X-3 Pledges and grants receivableStart of year $2,134,851$1,680,542

X-8 Inventories for sale or useStart of year $177,872$174,411

X-9 Prepaid expenses and deferred chargesStart of year $139,161$97,222

X-10c Land, buildings and equipment, netStart of year $32,002,050$31,482,456

X-11 Publicly traded securitiesStart of year $34,407,683$36,178,956

X-12 Other securitiesStart of year $6,381,356$7,446,191

X-15 Other assetsStart of year $545,514$545,514

X-16 Total assetsStart of year $78,609,084$82,980,350

X-17 Accounts payable and accrued expensesStart of year $1,001,878$327,131

X-19 Deferred revenueStart of year $2,901,386$2,400,987

X-20 Tax-exempt bond liabilitiesStart of year $8,255,020$4,717,416

X-25 Other liabilitiesStart of year $201,016$295,120

X-26 Total liabilitiesStart of year $12,970,239$8,326,313

X-27 Net assets without donor restrictionsStart of year $35,317,287$43,838,948

X-28 Net assets with donor restrictionsStart of year $30,321,558$30,815,089

X-32 Total net assets or fund balancesStart of year $65,638,845$74,654,037

X-33 Total liabilities and net assetsStart of year $78,609,084$82,980,350

Part XI · Reconciliation of net assets $74,654,037 net assets at year end

XI-1 Total revenue$29,019,597

XI-2 Total expenses$21,876,667

XI-3 Revenue less expenses$7,142,930

XI-4 Net assets at start of year$65,638,845

XI-5 Net unrealized gains (losses) on investments$1,872,262

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$74,654,037

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

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