Putney School INC EIN 03-0179305

Putney School INC

EIN  03-0179305 Public charity (501(c)(3)) Putney, VT Founded 1935
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/8/26 · see original filing: IRS
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Size
$10–100M
What they do
Educates students in a coeducational boarding and day secondary school.
Leadership
Daniel O'Brien · Head of School/Trustee · $319K
Money in and out
$29.0M revenue, $21.9M expenses
Bottom line
78% program efficiency

Educates students in a coeducational boarding and day secondary school. For fiscal year 2024 it reported $29.0M in revenue, $21.9M in expenses, and $74.7M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$29.0M
Pt VIII · Ln 12
Total expenses
$21.9M
Pt IX · Ln 25
Net assets
$74.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $7.1M
Where spending went · Part IX cols B–D
Program services $0.78 Management & general $0.19 Fundraising $0.03
Program efficiency
78%
of spending reaches programs▲ +10% vs prior filing year
Operating runway
28.2mo
months of highly liquid reserves at operating expense rate▲ +11% vs prior filing year
Surplus margin
+25%
revenue over expenses, this year▲ +124% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$29.0M
FY2024▲ +24%
Expenses
$21.9M
FY2024▲ +5%
Total assets
$83.0M
FY2024▲ +6%
Total liabilities
$8.3M
FY2024▼ -36%
Total revenue
$29.0M
Pt VIII · Ln 12
Total expenses
$21.9M
Pt IX · Ln 25
Net assets
$74.7M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$7.1M
Total assetsPt X · Ln 16$83.0M
Program-expense ratioPt IX · col B78%
Voting members of governing bodyPt I · Ln 325
Independent voting membersPt I · Ln 422
Mission & Programs · Part III

Where the work happens

1 program service account for $17.1M of program spending, described in the organization's 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

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPutney School INC
EINHdr · item D03-0179305
Principal addressHdr · item CPutney, VT
WebsiteHdr · item Jwww.putneyschool.org
Year of formationHdr · item L1935
State of legal domicileHdr · item MVT
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFSep 1937

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a25
Independent voting membersPt VI · Ln 1b22
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 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Head of School/Trustee
$318,824Pt VII · Sec A
Treasurer/Cfoo
$154,903Pt VII · Sec A
Director of Development
$129,805Pt VII · Sec A
Director of Technology
$123,644Pt VII · Sec A
Director of Summer Programs
$101,280Pt VII · Sec A
$61,783Pt VII · Sec A
Faculty Trustee
$53,941Pt VII · Sec A
Faculty Trustee
$44,379Pt VII · Sec A

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

NameFY2024FY2024FY2023FY2022FY2021
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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Statement of Revenue

Part VIII
Program service revenue$17.0M · 58%
Investment income$6.3M · 22%
Contributions & grants$5.6M · 19%
Other revenue$194K · 1%
Program service revenue58%$17.0M
Investment income22%$6.3M
Contributions & grants19%$5.6M
Other revenue1%$194K
Total revenueLn 12$29.0M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.78 Management & general $0.19 Fundraising $0.03
Program services78%$17.1M
Management & general19%$4.1M
Fundraising3%$680K
Total functional expensesLn 25$21.9M

Balance Sheet

Part X · end of year
CashLn 1$5.4M
Total assetsLn 16$83.0M
Total liabilitiesLn 26$8.3M
Total net assetsLn 32$74.7M
Months of cash on handcomputed2.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $49.0M · Operating expenses (Pt IX) $21.9M · Less non-cash grants $1.0M · Cash operating expenses/yr $20.9M
28.2 months
Where the money goes
Program services
Program services $17.1M · Total expenses $21.9M
78%
Management & General
Management & general $4.1M · Total expenses $21.9M
19%
Fundraising
Fundraising $680K · Total expenses $21.9M
3%
Cost to raise $1
Fundraising expense (3-yr avg) $737K · Solicited contributions (3-yr avg) $3.9M
$0.19 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $5.6M · Total revenue $29.0M
19%
Government reliance
Government grants — · Total revenue $29.0M
Earned-income share
Program service revenue $17.0M · Total revenue $29.0M
58%
Investment reliance
Investment income $6.3M · Total revenue $29.0M
+22%
Program self-sufficiency
Program service revenue $17.0M · Total expenses $21.9M
77%
Growth & trend
Revenue growth (YoY)
This year $29.0M · Prior year $23.3M
+24%
Revenue CAGR
FY2020 $24.9M · FY2024 $29.0M
+4%
Net-asset trend (YoY)
End of year $74.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $29.0M · Expenses $21.9M
+25%
Liabilities-to-Assets
Total liabilities — · Total assets $83.0M
Net-asset ratio
Net assets $74.7M · Total assets $83.0M
90%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $36.2M · Other securities (Pt X, ln 12) $7.4M · Total assets (Pt X, ln 16) $83.0M
53%
People & payroll
Highest Reported Total Compensation
Individual Daniel O'Brien · Reported title HEAD OF SCHOOL/TRUSTEE · Highest reported compensation $319K · Total expenses $21.9M
1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $9.8M · Total expenses $21.9M
45%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 78%
Overhead ratio 19%
Fundraising cost ratio 12%
Revenue growth 24%

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.

Grants

Schedule I · received and paid
Grants received · FY2025
CincoFY2025$140K
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

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$23.3M revenue · ⤓ 990 PDF
FY2023$19.6M revenue · ⤓ 990 PDF
FY2022$23.0M revenue · ⤓ 990 PDF
FY2021$24.9M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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