Burr & Burton Academy: Nonprofit Profile, Financials & Form 990 (EIN 03-0179404)

Revenue by fiscal year
FY2021	$24.0M
FY2022	$25.5M
FY2023	$21.1M
FY2024	$21.6M
FY2025	$33.4M

Expenses by fiscal year
FY2021	$18.7M
FY2022	$21.9M
FY2023	$23.1M
FY2024	$23.6M
FY2025	$25.1M

Net assets by fiscal year
FY2021	$66.5M
FY2022	$65.2M
FY2023	$65.3M
FY2024	$65.9M
FY2025	$70.1M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1974.

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

Where the money goes

88 cents of each dollar spent went to programs.

88%

Program services 88% · $22.1M Management & general 8% · $2.1M Fundraising 4% · $913K

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

27 people listed on the 990; $1.2M 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

Mark Tashjian

Headmaster

$269,398Pt VII · Sec A

Margaret Kenny

Associate Head of School

$169,485Pt VII · Sec A

Jeff Spencer

Director of Finance

$126,250Pt VII · Sec A

Amy Wright

Director of Technology

$125,927Pt VII · Sec A

Eric Subik

Director of Facilities

$125,447Pt VII · Sec A

Kate Leach

Director of Advancement

$120,891Pt VII · Sec A

Michael Caraco

Dean of Faculty

$120,144Pt VII · Sec A

Justin Herrington

Director of Admission

$119,294Pt VII · Sec A

Mark Tashjian’s $269K as Headmaster is at the 58th 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

Name	FY2025	FY2024	FY2023	FY2022	FY2021
Mark Tashjian	$269,398	$260,484	$255,099	$245,257	$241,601
Margaret Kenny	$169,485	$165,649	$173,609	$161,471	$155,457
Dennis Filippi	—	—	$134,724	$117,907	$119,191
Kate Leach	$120,891	$118,745	$130,242	$104,062	$103,272
Jeff Spencer	$126,250	$62,500	—	—	—
Amy Wright	$125,927	$113,811	—	—	—
Eric Subik	$125,447	—	—	—	—
Michael Caraco	$120,144	$117,327	$117,545	$112,573	$101,158

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

Offers accredited high school education for grades 9-12.

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Provided by the organization

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2 programs · $22.1M · in their own filed words · FY2024

01

Burr and burton academy (bba) is an independent school that serves the general public. Founded in 1829, bba serves 13 towns in southern vermont and is committed to providing an outstanding educational opportunity to every student. Bba serves approximately 755 domestic and 44 international students from various countries.

$21.4Mprogram expense

02

Food service

$649Kprogram 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 · FY2024

Fidelity Investments Charitable Gift FundFY2024$217K

Stratton Mountain & Valley Community Benefit Foundation INCFY2024$88K

Vanguard Charitable Endowment ProgramFY2024$57K

American Endowment FoundationFY2024$50K

Enoch Foundation Charitable Tr 100892FY2024$30K

The Donahey Family FoundationFY2024$25K

Britton Fund 4240-00-44FY2024$25K

BNY Mellon Charitable Gift FundFY2024$20K

Total grants receivedfrom 20 funders$576K

See all 20 funders →

Grants paid · 6 grants · $2.2M · 2020–2024

Unitemized GrantFY2024$383,677

Unitemized GrantFY2023$483,664

Unitemized GrantFY2022$438,365

Unitemized GrantFY2021$413,868

Taconic and Green Regional School DistrictFY2020$45,996

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$33.4M

Ln 12

Fees for servicesLn 2g$20.8M

Investment incomeLn 3$7.4M

Gifts and grantsLn 1h$5.1M

Money outPt IX

$25.1M

Ln 25

Programscol B$22.1M

Managementcol C$2.1M

Fundraisingcol D$913K

Owns and owesPt X

$70.1M

net assets · Ln 32

Cash and savingsLn 1–2$741K

Total assetsLn 16$77.7M

LiabilitiesLn 26$7.6M

PeoplePt VI, VII

27

listed · VII A

PaidVII A8

Voting boardVI 1a19

IndependentVI 1b19

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$5.1M

Government grantsLn 1e$25K

Noncash giftsLn 1g$1.8M

Fundraising eventsLn 1c$51K

Fees for servicesLn 2g$20.8M

Investment incomeLn 3$7.4M

Other incomeLn 4–11$216K

Gains on assetsLn 7$6.5M

Total revenueLn 12$33.4M

Assets in detailPt X, end of year

CashLn 1$0

SavingsLn 2$741K

Cash and savings togetherLn 1–2$741K

InvestmentsLn 11–13$36.5M

Land, buildings, equipmentLn 10c$35.4M

Other assetsLn 15$2.2M

Total assetsLn 16$77.7M

LiabilitiesLn 26$7.6M

Net assetsLn 32$70.1M

OperationsPt I, VI

EmployeesI 5293

VolunteersI 620

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$447K	$741K
InvestmentsLn 11–13	$33.5M	$36.5M
Land, buildings, equipmentLn 10c	$34.6M	$35.4M
Total assetsLn 16	$72.6M	$77.7M
LiabilitiesLn 26	$6.7M	$7.6M
Net assetsLn 32	$65.9M	$70.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$384K	$384K
Grants and assistance to foreign recipientsLn 3	$793K	$793K
Pay of current officers, directors and key staffLn 5	$575K	$224K	$214K	$137K
Other salaries and wagesLn 7	$11.7M	$10.7M	$603K	$358K
Pension plan contributionsLn 8	$539K	$475K	$41K	$23K
Other employee benefitsLn 9	$3.3M	$2.9M	$252K	$141K
Payroll taxesLn 10	$922K	$813K	$70K	$39K
Legal feesLn 11b	$9K		$9K
Accounting feesLn 11c	$48K		$48K
Lobbying feesLn 11d	$51K		$51K
Investment management feesLn 11f	$125K		$125K
Other fees for servicesLn 11g	$1.5M	$1.0M	$446K	$50K
Advertising and promotionLn 12	$20K	$20K
Office expensesLn 13	$122K	$67K	$3K	$52K
Information technologyLn 14	$25K		$25K
OccupancyLn 16	$628K	$612K	$10K	$6K
TravelLn 17	$670K	$625K	$45K	$491
Conferences, conventions and meetingsLn 19	$157K	$101K	$52K	$4K
InterestLn 20	$20K	$20K	$380	$217
Depreciation, depletion and amortizationLn 22	$2.0M	$2.0M	$38K	$21K
InsuranceLn 23	$347K	$336K	$6K	$4K
Other expenses (24a–d)Ln 24	$1.1M	$957K	$65K	$30K
All other expensesLn 24e	$48K			$48K
Total functional expensesLn 25	$25.1M	$22.1M	$2.1M	$913K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$33.4M	$25.1M	$8.3M	$70.1M	990 PDF
FY2024	$21.6M	$23.6M	−$2.0M	$65.9M	990 PDF
FY2023	$21.1M	$23.1M	−$2.0M	$65.3M	990 PDF
FY2022	$25.5M	$21.9M	$3.6M	$65.2M	990 PDF
FY2021	$24.0M	$18.7M	$5.4M	$66.5M	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 FY2025 990 (6 parts)

Part I · Summary $33,442,163 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,650,231$5,081,879

I-9 Program service revenuePrior year $18,732,624$20,783,896

I-10 Investment incomePrior year $1,022,525$7,360,053

I-11 Other revenuePrior year $183,774$216,335

I-12 Total revenuePrior year $21,589,154$33,442,163

I-13 Grants and similar amounts paidPrior year $912,734$1,176,493

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

I-15 Salaries and benefitsPrior year $16,077,903$17,060,322

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

I-17 Other expensesPrior year $6,639,239$6,867,886

I-18 Total expensesPrior year $23,629,876$25,104,701

I-19 Revenue less expensesPrior year −$2,040,722$8,337,462

Part VI · Governance 19 of 19 board members independent, 1 to look at

VI-1a Voting members of the governing body19

VI-1b Independent voting members19

VI-14 Document retention and destruction policyNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $33,442,163 across 11 lines filed

Lines not itemized here account for $8,450 of total revenue; see the IRS return.

VIII-1c Fundraising events$50,635

VIII-1e Government grants$25,490

VIII-1f All other contributions, gifts and grants$5,005,754

VIII-1g Noncash contributions (included above)$1,794,483

VIII-1h Total contributions, gifts and grants$5,081,879

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $20,783,896$20,783,896

VIII-3 Investment incomeExcluded from tax $856,224$856,224

VIII-7 Net gain or loss on sales of assetsExcluded from tax $6,503,829$6,503,829

VIII-8 Net income from fundraising eventsExcluded from tax $58,159$58,159

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $132,750 · Excluded from tax $16,976$149,726

VIII-12 Total revenueRelated to mission $20,916,646 · Unrelated business $0 · Excluded from tax $7,443,638$33,442,163

Part IX · Statement of functional expenses $25,104,701 across 23 lines filed

IX-2 Grants to domestic individualsPrograms $383,677$383,677

IX-3 Grants and assistance to foreign recipientsPrograms $792,816$792,816

IX-5 Pay of current officers, directors and key staffPrograms $223,930 · Management $214,429 · Fundraising $137,001$575,360

IX-7 Other salaries and wagesPrograms $10,730,036 · Management $603,215 · Fundraising $357,544$11,690,795

IX-8 Pension plan contributionsPrograms $475,111 · Management $40,744 · Fundraising $22,831$538,686

IX-9 Other employee benefitsPrograms $2,940,232 · Management $252,148 · Fundraising $141,293$3,333,673

IX-10 Payroll taxesPrograms $813,017 · Management $69,722 · Fundraising $39,069$921,808

IX-11b Legal feesManagement $9,422$9,422

IX-11c Accounting feesManagement $48,340$48,340

IX-11d Lobbying feesManagement $50,872$50,872

IX-11f Investment management feesManagement $124,964$124,964

IX-11g Other fees for servicesPrograms $1,037,912 · Management $445,870 · Fundraising $50,332$1,534,114

IX-12 Advertising and promotionPrograms $20,013$20,013

IX-13 Office expensesPrograms $67,051 · Management $3,215 · Fundraising $51,502$121,768

IX-14 Information technologyManagement $24,986$24,986

IX-16 OccupancyPrograms $612,137 · Management $10,147 · Fundraising $5,788$628,072

IX-17 TravelPrograms $624,757 · Management $44,687 · Fundraising $491$669,935

IX-19 Conferences, conventions and meetingsPrograms $101,424 · Management $52,006 · Fundraising $3,533$156,963

IX-20 InterestPrograms $19,709 · Management $380 · Fundraising $217$20,306

IX-22 Depreciation, depletion and amortizationPrograms $1,951,591 · Management $37,657 · Fundraising $21,482$2,010,730

IX-23 InsurancePrograms $336,475 · Management $6,492 · Fundraising $3,704$346,671

IX-24 Other expenses (24a–d)Programs $957,401 · Management $64,961 · Fundraising $29,964$1,052,326

IX-24e All other expensesFundraising $48,404$48,404

IX-25 Total functional expensesPrograms $22,087,289 · Management $2,104,257 · Fundraising $913,155$25,104,701

Part X · Balance sheet $77,709,311 assets, 19 lines filed

X-1 Cash, non-interest-bearingStart of year $1,227$0

X-2 Savings and temporary cash investmentsStart of year $446,142$740,709

X-3 Pledges and grants receivableStart of year $93,349$1,538,268

X-4 Accounts receivableStart of year $1,685,765$1,237,124

X-9 Prepaid expenses and deferred chargesStart of year $44,590$50,194

X-10c Land, buildings and equipment, netStart of year $34,620,954$35,434,241

X-11 Publicly traded securitiesStart of year $33,534,997$36,473,658

X-14 Intangible assetsStart of year $14,415$11,794

X-15 Other assetsStart of year $2,187,793$2,223,323

X-16 Total assetsStart of year $72,629,232$77,709,311

X-17 Accounts payable and accrued expensesStart of year $2,921,455$3,799,466

X-19 Deferred revenueStart of year $1,741,174$1,753,752

X-20 Tax-exempt bond liabilitiesStart of year $282,759$235,632

X-25 Other liabilitiesStart of year $1,515,941$1,555,479

X-26 Total liabilitiesStart of year $6,699,326$7,587,816

X-27 Net assets without donor restrictionsStart of year $40,316,901$39,488,473

X-28 Net assets with donor restrictionsStart of year $25,613,005$30,633,022

X-32 Total net assets or fund balancesStart of year $65,929,906$70,121,495

X-33 Total liabilities and net assetsStart of year $72,629,232$77,709,311

Part XI · Reconciliation of net assets $70,121,495 net assets at year end

XI-1 Total revenue$33,442,163

XI-2 Total expenses$25,104,701

XI-3 Revenue less expenses$8,337,462

XI-4 Net assets at start of year$65,929,906

XI-5 Net unrealized gains (losses) on investments−$4,143,532

XI-9 Other changes in net assets−$2,341

XI-10 Net assets at end of year$70,121,495

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

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