Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1944.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
86 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
29 people listed on the 990; $797K paid to officers and key staff (Part VII, Section A).
Jennifer Zaccara’s $240K as Head of School is at the 50th 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 | FY2020 |
|---|---|---|---|---|---|---|
| Jennifer Zaccara | $240,421 | $239,390 | $220,900 | $240,000 | $243,846 | $220,000 |
| Matthew Emsley | — | $187,748 | $71,874 | — | — | — |
| Vincent Schuck | $183,780 | — | — | — | — | — |
| Melanie Hoffmann | — | — | — | — | — | $167,626 |
| Benjamin Gardner | $137,363 | — | — | — | — | — |
| Jeffery Seaton | — | — | — | $70,030 | $127,605 | $117,485 |
| Brian Gilloran | $119,893 | $114,391 | — | — | — | — |
| Tonia Fleming | $115,931 | $116,341 | — | — | — | — |
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.
See Vermont Academy executive salaries →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
Develops confident, independent learners through personalized attention in a unique Vermont setting.
Questions for Vermont Academy
Your first name shows with your question. Vermont Academy answers here, for everyone.
Vermont Academy is a private boarding and day school providing a broad curriculum and an extensive athletic program. Programs of note are found in the center for learnings, the arts, and in our science and engineering curriculum.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 03-0179600) · Dispute this lineFunders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| End of yearLn 1g | $7.6M | $10.7M | $10.7M | $10.7M | $11.3M |
| AddedLn 1b | $45K | ||||
| SpentLn 1d–1f | $3.1M | $619K |
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $286K | $495K |
| InvestmentsLn 11–13 | $9.7M | $7.6M |
| Land, buildings, equipmentLn 10c | $11.6M | $10.9M |
| Total assetsLn 16 | $23.0M | $19.8M |
| LiabilitiesLn 26 | $3.3M | $5.6M |
| Net assetsLn 32 | $19.7M | $14.3M |
| Line | FY24 |
|---|---|
| Gross | $30K |
| Net | $30K |
| Tax | $2K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic individualsLn 2 | $8.7M | $8.7M | ||
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $458K | $458K | ||
| Other salaries and wagesLn 7 | $4.9M | $3.9M | $542K | $443K |
| Other employee benefitsLn 9 | $272K | $218K | $30K | $24K |
| Payroll taxesLn 10 | $416K | $333K | $46K | $37K |
| Legal feesLn 11b | $11K | $11K | ||
| Accounting feesLn 11c | $22K | $22K | ||
| Other fees for servicesLn 11g | $352K | $225K | $119K | $9K |
| Advertising and promotionLn 12 | $115K | $51K | $64K | |
| Office expensesLn 13 | $215K | $107K | $68K | $40K |
| Information technologyLn 14 | $236K | $236K | ||
| OccupancyLn 16 | $1.4M | $1.3M | $40K | $11K |
| TravelLn 17 | $267K | $220K | $26K | $22K |
| Conferences, conventions and meetingsLn 19 | $106K | $87K | $10K | $9K |
| InterestLn 20 | $14K | $14K | ||
| Depreciation, depletion and amortizationLn 22 | $571K | $550K | $17K | $4K |
| InsuranceLn 23 | $158K | $158K | ||
| Other expenses (24a–d)Ln 24 | $3.1M | $2.2M | $807K | $11K |
| All other expensesLn 24e | $172K | $171K | $1K | $326 |
| Total functional expensesLn 25 | $21.4M | $18.5M | $2.2M | $674K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest ViewingFiled with the IRS May 14, 2026 | $19.4M | $21.4M | −$2.0M | $14.3M | 990 PDF |
| FY2024Filed with the IRS May 15, 2025 | $18.8M | $18.9M | −$82K | $19.7M | 990 PDF |
| FY2023Filed with the IRS May 15, 2024 | $15.1M | $16.1M | −$993K | $18.0M | 990 PDF |
| FY2022Filed with the IRS May 15, 2023 | $10.1M | $15.1M | −$5.0M | $18.9M | 990 PDF |
| FY2021Filed with the IRS May 16, 2022 | $12.1M | $10.8M | $1.3M | $23.9M | 990 PDF |
| FY2020Filed with the IRS May 17, 2021 | $11.2M | $12.5M | −$1.3M | $22.6M | 990 PDF |
Schedules filed Part IV
See the full FY2025 990
Part I · Summary $19,374,809 revenue, 12 lines filed
Part VI · Governance 16 of 16 board members independent, 2 to look at
Part VIII · Statement of revenue $19,374,809 across 6 lines filed
Part IX · Statement of functional expenses $21,391,609 across 19 lines filed
Part X · Balance sheet $19,844,143 assets, 17 lines filed
Part XI · Reconciliation of net assets $14,263,776 net assets at year end
Form 990 e-file FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
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