Concord Academy: FY2020 Nonprofit Profile & Form 990 (EIN 04-1200600)

Henry Fairfax’s $468K as Head of School is at the 86th 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
Richard G Hardy Emeritus Head of	—	—	—	—	$901,391	—
Henry Fairfax	$468,361	$450,063	$250,455	—	—	—
Richard G Hardy	—	—	$360,467	$413,457	—	$381,678
Sarah Yeh Associate Head for	$260,652	$248,570	$341,495	—	—	—
Sarah Yeh	—	—	—	$328,565	—	—
Amy Miller-Fredericks	$302,540	$286,312	$278,165	$286,131	$273,213	$243,925
Melody Komyerov	—	—	$274,440	—	—	—
Alice R Roebuck Ass Head for	—	$262,467	—	—	—	—

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

Educates high school students from diverse backgrounds in a college-preparatory boarding and day school.

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1 program · $22.8M · in their own filed words · FY2019

01

Secondary Education

399 students in grades 9 through 12; educational programs, GENERAL/OTHER: summer camp 8-WEEK program for children in grades pre-k through 9.

$22.8Mprogram 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

Gs Donor Advised Philanthropy Fund for Wealth Management INCFY2024$1.3M

Fidelity Investments Charitable Gift FundFY2024$585K

American Endowment FoundationFY2024$528K

Boston Foundation INCFY2024$200K

Donor Advised Charitable Giving INCFY2024$117K

Vanguard Charitable Endowment ProgramFY2024$47K

American Online Giving Foundation INCFY2024$26K

Combined Jewish Philanthropies of Greater Boston INCFY2024$20K

Total grants receivedfrom 12 funders$2.8M

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Grants paid · 28 grants · $332K · 2019–2024

Unitemized GrantFY2024$26,080

Unitemized GrantFY2024$20,992

Town of ConcordFY2024$10,000

Unitemized GrantFY2024$8,389

Unitemized GrantFY2024$4,584

Unitemized GrantFY2023$23,610

Unitemized GrantFY2023$22,320

Concord Free Public Library CorporationMA · FY2023$10,000

Unitemized GrantFY2023$4,925

Unitemized GrantFY2023$1,400

Unitemized GrantFY2022$22,160

Unitemized GrantFY2022$10,458

Concord Free Public Library CorporationMA · FY2022$10,000

Unitemized GrantFY2022$3,600

Unitemized GrantFY2022$1,737

Unitemized GrantFY2021$24,000

Unitemized GrantFY2021$17,147

Concord Free Public Library CorporationMA · FY2021$10,000

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By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$31.3M

Ln 12

Fees for servicesLn 2g$23.0M

Gifts and grantsLn 1h$7.6M

Investment incomeLn 3$660K

Money outPt IX

$29.9M

Ln 25

Programscol B$22.8M

Managementcol C$5.0M

Fundraisingcol D$2.2M

Owns and owesPt X

$124.1M

net assets · Ln 32

Cash and savingsLn 1–2$13.9M

Total assetsLn 16$148.6M

LiabilitiesLn 26$24.5M

PeoplePt VI, VII

36

listed · VII A

PaidVII A8

Voting boardVI 1a29

IndependentVI 1b28

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$7.6M

Noncash giftsLn 1g$710K

Fees for servicesLn 2g$23.0M

Investment incomeLn 3$660K

Gains on assetsLn 7$145K

Total revenueLn 12$31.3M

Assets in detailPt X, end of year

CashLn 1$3K

SavingsLn 2$13.9M

Cash and savings togetherLn 1–2$13.9M

InvestmentsLn 11–13$84.0M

Land, buildings, equipmentLn 10c$43.8M

Other assetsLn 15$1.6M

Total assetsLn 16$148.6M

LiabilitiesLn 26$24.5M

Net assetsLn 32$124.1M

OperationsPt I, VI

EmployeesI 5427

VolunteersI 6323

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 FY20	End FY20
Cash and savingsLn 1–2	$7.5M	$13.9M
InvestmentsLn 11–13	$84.2M	$84.0M
Land, buildings, equipmentLn 10c	$43.0M	$43.8M
Total assetsLn 16	$144.7M	$148.6M
LiabilitiesLn 26	$20.8M	$24.5M
Net assetsLn 32	$124.0M	$124.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$5.0M	$5.0M
Pay of current officers, directors and key staffLn 5	$1.2M		$882K	$285K
Other salaries and wagesLn 7	$10.9M	$8.4M	$1.6M	$936K
Pension plan contributionsLn 8	$729K	$550K	$115K	$64K
Other employee benefitsLn 9	$1.7M	$1.2M	$325K	$149K
Payroll taxesLn 10	$830K	$589K	$157K	$84K
Legal feesLn 11b	$152K		$152K
Accounting feesLn 11c	$109K		$109K
Investment management feesLn 11f	$335K		$335K
Other fees for servicesLn 11g	$1.2M	$838K	$235K	$113K
Advertising and promotionLn 12	$79K	$11K	$30K	$37K
Office expensesLn 13	$159K	$132K	$19K	$8K
Information technologyLn 14	$186K	$103K	$70K	$14K
OccupancyLn 16	$801K	$757K	$26K	$17K
TravelLn 17	$182K	$118K	$50K	$14K
Conferences, conventions and meetingsLn 19	$182K	$102K	$73K	$7K
InterestLn 20	$421K	$397K	$14K	$9K
Depreciation, depletion and amortizationLn 22	$2.2M	$2.1M	$76K	$49K
InsuranceLn 23	$167K		$167K
Other expenses (24a–d)Ln 24	$2.4M	$2.0M	$167K	$200K
All other expensesLn 24e	$1.0M	$433K	$400K	$185K
Total functional expensesLn 25	$29.9M	$22.8M	$5.0M	$2.2M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$47.6M	$38.8M	$8.8M	$186.4M	990 PDF
FY2024	$53.7M	$37.0M	$16.7M	$175.1M	990 PDF
FY2023	$37.6M	$35.6M	$2.0M	$152.7M	990 PDF
FY2022	$40.6M	$33.5M	$7.1M	$142.6M	990 PDF
FY2021	$52.7M	$33.3M	$19.4M	$146.3M	990 PDF
FY2020 Viewing	$31.3M	$29.9M	$1.3M	$124.1M	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 FY2020 990 (6 parts)

Part I · Summary $31,252,046 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $6,834,051$7,560,778

I-9 Program service revenuePrior year $23,127,623$23,031,751

I-10 Investment incomePrior year $1,536,921$659,517

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $31,498,595$31,252,046

I-13 Grants and similar amounts paidPrior year $4,605,195$4,977,805

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

I-15 Salaries and benefitsPrior year $14,796,580$15,356,755

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

I-17 Other expensesPrior year $9,785,816$9,581,520

I-18 Total expensesPrior year $29,187,591$29,916,080

I-19 Revenue less expensesPrior year $2,311,004$1,335,966

Part VI · Governance 28 of 29 board members independent, no flags

VI-1a Voting members of the governing body29

VI-1b Independent voting members28

VI-2 Family or business relationship among officers or directorsNo

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 $31,252,046 across 7 lines filed

VIII-1f All other contributions, gifts and grants$7,560,778

VIII-1g Noncash contributions (included above)$709,926

VIII-1h Total contributions, gifts and grants$7,560,778

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $23,031,751$23,031,751

VIII-3 Investment incomeUnrelated business −$10,173 · Excluded from tax $525,029$514,856

VIII-7 Net gain or loss on sales of assetsExcluded from tax $144,661$144,661

VIII-12 Total revenueRelated to mission $23,031,751 · Unrelated business −$10,173 · Excluded from tax $669,690$31,252,046

Part IX · Statement of functional expenses $29,916,080 across 21 lines filed

IX-2 Grants to domestic individualsPrograms $4,977,805$4,977,805

IX-5 Pay of current officers, directors and key staffManagement $882,035 · Fundraising $285,210$1,167,245

IX-7 Other salaries and wagesPrograms $8,444,719 · Management $1,566,617 · Fundraising $935,511$10,946,847

IX-8 Pension plan contributionsPrograms $550,054 · Management $114,673 · Fundraising $64,396$729,123

IX-9 Other employee benefitsPrograms $1,209,006 · Management $325,485 · Fundraising $149,074$1,683,565

IX-10 Payroll taxesPrograms $589,108 · Management $157,257 · Fundraising $83,610$829,975

IX-11b Legal feesManagement $151,926$151,926

IX-11c Accounting feesManagement $109,188$109,188

IX-11f Investment management feesManagement $334,950$334,950

IX-11g Other fees for servicesPrograms $838,434 · Management $234,560 · Fundraising $113,029$1,186,023

IX-12 Advertising and promotionPrograms $11,318 · Management $30,462 · Fundraising $37,190$78,970

IX-13 Office expensesPrograms $132,040 · Management $18,850 · Fundraising $7,798$158,688

IX-14 Information technologyPrograms $102,887 · Management $69,735 · Fundraising $13,669$186,291

IX-16 OccupancyPrograms $757,090 · Management $26,362 · Fundraising $17,136$800,588

IX-17 TravelPrograms $117,955 · Management $50,141 · Fundraising $14,352$182,448

IX-19 Conferences, conventions and meetingsPrograms $101,731 · Management $72,946 · Fundraising $7,343$182,020

IX-20 InterestPrograms $397,307 · Management $14,317 · Fundraising $9,307$420,931

IX-22 Depreciation, depletion and amortizationPrograms $2,108,451 · Management $75,980 · Fundraising $49,387$2,233,818

IX-23 InsuranceManagement $167,415$167,415

IX-24 Other expenses (24a–d)Programs $2,002,241 · Management $167,127 · Fundraising $200,264$2,369,632

IX-24e All other expensesPrograms $433,413 · Management $400,211 · Fundraising $185,008$1,018,632

IX-25 Total functional expensesPrograms $22,773,559 · Management $4,970,237 · Fundraising $2,172,284$29,916,080

Part X · Balance sheet $148,552,196 assets, 19 lines filed

Asset lines not itemized here account for $9,592; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $3,624$2,951

X-2 Savings and temporary cash investmentsStart of year $7,532,189$13,864,135

X-3 Pledges and grants receivableStart of year $7,668,847$4,993,660

X-8 Inventories for sale or useStart of year $11,606$9,197

X-9 Prepaid expenses and deferred chargesStart of year $592,030$292,289

X-10c Land, buildings and equipment, netStart of year $43,044,319$43,789,319

X-11 Publicly traded securitiesStart of year $14,831,414$15,485,669

X-12 Other securitiesStart of year $69,386,003$68,536,200

X-15 Other assetsStart of year $1,645,588$1,569,184

X-16 Total assetsStart of year $144,731,804$148,552,196

X-17 Accounts payable and accrued expensesStart of year $2,079,486$1,655,911

X-19 Deferred revenueStart of year $7,785,493$5,490,095

X-20 Tax-exempt bond liabilitiesStart of year $9,952,818$13,747,036

X-25 Other liabilitiesStart of year $959,369$3,559,349

X-26 Total liabilitiesStart of year $20,777,166$24,452,391

X-27 Net assets without donor restrictionsStart of year $59,730,940$62,186,078

X-28 Net assets with donor restrictionsStart of year $64,223,698$61,913,727

X-32 Total net assets or fund balancesStart of year $123,954,638$124,099,805

X-33 Total liabilities and net assetsStart of year $144,731,804$148,552,196

Part XI · Reconciliation of net assets $124,099,805 net assets at year end

XI-1 Total revenue$31,252,046

XI-2 Total expenses$29,916,080

XI-3 Revenue less expenses$1,335,966

XI-4 Net assets at start of year$123,954,638

XI-5 Net unrealized gains (losses) on investments−$1,213,338

XI-9 Other changes in net assets$22,539

XI-10 Net assets at end of year$124,099,805

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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Concord Academy FY2020 filing

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