Concord Academy: FY2024 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 · $29.1M · in their own filed words · FY2023

01

Secondary Education

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

$29.1Mprogram 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 · 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 FY2024 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$53.7M

Ln 12

Fees for servicesLn 2g$29.0M

Gifts and grantsLn 1h$18.6M

Investment incomeLn 3$6.1M

Money outPt IX

$37.0M

Ln 25

Programscol B$29.1M

Managementcol C$6.5M

Fundraisingcol D$1.5M

Owns and owesPt X

$175.1M

net assets · Ln 32

Cash and savingsLn 1–2$18.2M

Total assetsLn 16$203.1M

LiabilitiesLn 26$27.9M

PeoplePt VI, VII

39

listed · VII A

PaidVII A10

Voting boardVI 1a30

IndependentVI 1b28

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$18.6M

Noncash giftsLn 1g$845K

Fees for servicesLn 2g$29.0M

Investment incomeLn 3$6.1M

Other incomeLn 4–11$137K

Gains on assetsLn 7$3.7M

Total revenueLn 12$53.7M

Assets in detailPt X, end of year

CashLn 1$3K

SavingsLn 2$18.2M

Cash and savings togetherLn 1–2$18.2M

InvestmentsLn 11–13$108.1M

Land, buildings, equipmentLn 10c$60.1M

Other assetsLn 15$1.6M

Total assetsLn 16$203.1M

LiabilitiesLn 26$27.9M

Net assetsLn 32$175.1M

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 FY24	End FY24
Cash and savingsLn 1–2	$22.5M	$18.2M
InvestmentsLn 11–13	$98.4M	$108.1M
Land, buildings, equipmentLn 10c	$45.1M	$60.1M
Total assetsLn 16	$177.5M	$203.1M
LiabilitiesLn 26	$24.8M	$27.9M
Net assetsLn 32	$152.7M	$175.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$10K	$10K
Grants to domestic individualsLn 2	$5.9M	$5.9M
Pay of current officers, directors and key staffLn 5	$1.8M	$310K	$1.1M	$378K
Other salaries and wagesLn 7	$13.6M	$10.7M	$2.4M	$468K
Pension plan contributionsLn 8	$841K	$627K	$189K	$25K
Other employee benefitsLn 9	$2.4M	$1.9M	$423K	$126K
Payroll taxesLn 10	$1.1M	$773K	$234K	$57K
Legal feesLn 11b	$63K		$63K
Accounting feesLn 11c	$111K		$111K
Investment management feesLn 11f	$390K		$390K
Other fees for servicesLn 11g	$1.6M	$1.2M	$331K	$70K
Advertising and promotionLn 12	$127K	$817	$85K	$41K
Office expensesLn 13	$453K	$244K	$144K	$65K
Information technologyLn 14	$168K	$99K	$63K	$6K
OccupancyLn 16	$1.1M	$1.0M	$32K	$21K
TravelLn 17	$374K	$231K	$130K	$13K
Conferences, conventions and meetingsLn 19	$212K	$113K	$84K	$15K
InterestLn 20	$323K	$306K	$11K	$7K
Depreciation, depletion and amortizationLn 22	$2.4M	$2.3M	$78K	$51K
InsuranceLn 23	$258K		$258K
Other expenses (24a–d)Ln 24	$3.4M	$3.1M	$231K	$108K
All other expensesLn 24e	$493K	$319K	$159K	$14K
Total functional expensesLn 25	$37.0M	$29.1M	$6.5M	$1.5M

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 Viewing	$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	$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 FY2024 990 (6 parts)

Part I · Summary $53,741,074 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $10,593,673$18,585,896

I-9 Program service revenuePrior year $25,644,491$28,951,791

I-10 Investment incomePrior year $1,197,920$6,066,860

I-11 Other revenuePrior year $160,410$136,527

I-12 Total revenuePrior year $37,596,494$53,741,074

I-13 Grants and similar amounts paidPrior year $5,284,219$5,950,493

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

I-15 Salaries and benefitsPrior year $18,152,050$19,646,706

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

I-17 Other expensesPrior year $12,152,935$11,448,144

I-18 Total expensesPrior year $35,589,204$37,045,343

I-19 Revenue less expensesPrior year $2,007,290$16,695,731

Part VI · Governance 28 of 30 board members independent, no flags

VI-1a Voting members of the governing body30

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 $53,741,074 across 9 lines filed

Lines not itemized here account for $2,628 of total revenue; see the IRS return.

VIII-1f All other contributions, gifts and grants$18,585,896

VIII-1g Noncash contributions (included above)$844,675

VIII-1h Total contributions, gifts and grants$18,585,896

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $28,951,791$28,951,791

VIII-3 Investment incomeUnrelated business $20,467 · Excluded from tax $2,304,338$2,324,805

VIII-6 Net rental income or lossExcluded from tax $83,000$83,000

VIII-7 Net gain or loss on sales of assetsExcluded from tax $3,742,055$3,742,055

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $40,270 · Excluded from tax $10,629$50,899

VIII-12 Total revenueRelated to mission $28,992,061 · Unrelated business $20,467 · Excluded from tax $6,142,650$53,741,074

Part IX · Statement of functional expenses $37,045,343 across 22 lines filed

IX-1 Grants to domestic organizationsPrograms $10,000$10,000

IX-2 Grants to domestic individualsPrograms $5,940,493$5,940,493

IX-5 Pay of current officers, directors and key staffPrograms $310,198 · Management $1,067,256 · Fundraising $378,189$1,755,643

IX-7 Other salaries and wagesPrograms $10,680,685 · Management $2,407,541 · Fundraising $467,963$13,556,189

IX-8 Pension plan contributionsPrograms $626,971 · Management $188,918 · Fundraising $25,173$841,062

IX-9 Other employee benefitsPrograms $1,881,690 · Management $423,135 · Fundraising $125,625$2,430,450

IX-10 Payroll taxesPrograms $772,675 · Management $234,131 · Fundraising $56,556$1,063,362

IX-11b Legal feesManagement $62,663$62,663

IX-11c Accounting feesManagement $110,865$110,865

IX-11f Investment management feesManagement $389,717$389,717

IX-11g Other fees for servicesPrograms $1,223,913 · Management $330,873 · Fundraising $69,607$1,624,393

IX-12 Advertising and promotionPrograms $817 · Management $85,146 · Fundraising $40,872$126,835

IX-13 Office expensesPrograms $244,090 · Management $143,803 · Fundraising $65,210$453,103

IX-14 Information technologyPrograms $98,795 · Management $62,567 · Fundraising $6,298$167,660

IX-16 OccupancyPrograms $1,009,229 · Management $32,437 · Fundraising $21,084$1,062,750

IX-17 TravelPrograms $231,152 · Management $130,489 · Fundraising $12,576$374,217

IX-19 Conferences, conventions and meetingsPrograms $113,053 · Management $83,899 · Fundraising $15,268$212,220

IX-20 InterestPrograms $305,565 · Management $10,531 · Fundraising $6,845$322,941

IX-22 Depreciation, depletion and amortizationPrograms $2,260,317 · Management $77,899 · Fundraising $50,633$2,388,849

IX-23 InsuranceManagement $258,466$258,466

IX-24 Other expenses (24a–d)Programs $3,062,547 · Management $230,651 · Fundraising $107,640$3,400,838

IX-24e All other expensesPrograms $318,993 · Management $159,474 · Fundraising $14,160$492,627

IX-25 Total functional expensesPrograms $29,091,183 · Management $6,490,461 · Fundraising $1,463,699$37,045,343

Part X · Balance sheet $203,071,551 assets, 19 lines filed

Asset lines not itemized here account for $8,550; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $3,600$3,300

X-2 Savings and temporary cash investmentsStart of year $22,468,096$18,207,914

X-3 Pledges and grants receivableStart of year $8,833,294$14,291,348

X-8 Inventories for sale or useStart of year $29,570$21,420

X-9 Prepaid expenses and deferred chargesStart of year $603,032$708,548

X-10c Land, buildings and equipment, netStart of year $45,100,142$60,145,101

X-11 Publicly traded securitiesStart of year $53,721,329$58,270,398

X-12 Other securitiesStart of year $44,714,398$49,806,533

X-15 Other assetsStart of year $1,539,126$1,608,439

X-16 Total assetsStart of year $177,453,653$203,071,551

X-17 Accounts payable and accrued expensesStart of year $1,596,598$4,646,064

X-19 Deferred revenueStart of year $9,489,101$9,984,089

X-20 Tax-exempt bond liabilitiesStart of year $12,605,653$12,216,293

X-25 Other liabilitiesStart of year $1,080,063$1,094,416

X-26 Total liabilitiesStart of year $24,771,415$27,940,862

X-27 Net assets without donor restrictionsStart of year $67,168,240$72,407,040

X-28 Net assets with donor restrictionsStart of year $85,513,998$102,723,649

X-32 Total net assets or fund balancesStart of year $152,682,238$175,130,689

X-33 Total liabilities and net assetsStart of year $177,453,653$203,071,551

Part XI · Reconciliation of net assets $175,130,689 net assets at year end

XI-1 Total revenue$53,741,074

XI-2 Total expenses$37,045,343

XI-3 Revenue less expenses$16,695,731

XI-4 Net assets at start of year$152,682,238

XI-5 Net unrealized gains (losses) on investments$5,618,135

XI-9 Other changes in net assets$134,585

XI-10 Net assets at end of year$175,130,689

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Concord Academy FY2024 filing

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