Groton School EIN 04-2104265

Groton School

EIN  04-2104265 Public charity (501(c)(3)) Groton, MA Founded 1884
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 7/8/26 · see original filing: IRS
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Size
$10–100M
What they do
Educates students in grades eight to twelve for college and university.
Leadership
Temba Maqubela · Headmaster · $690K
Money in and out
$66.9M revenue, $58.3M expenses
Bottom line
71% program efficiency

Educates students in grades eight to twelve for college and university. For fiscal year 2024 it reported $66.9M in revenue, $58.3M in expenses, and $640.1M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$66.9M
Pt VIII · Ln 12
Total expenses
$58.3M
Pt IX · Ln 25
Net assets
$640.1M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $8.7M
Where spending went · Part IX cols B–D
Program services $0.71 Management & general $0.24 Fundraising $0.05
Program efficiency
71%
of spending reaches programs▼ -1% vs prior filing year
Operating runway
116.2mo
months of highly liquid reserves at operating expense rate▲ +1% vs prior filing year
Surplus margin
+13%
revenue over expenses, this year▼ -43% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$66.9M
FY2024▼ -6%
Expenses
$58.3M
FY2024▲ +5%
Total assets
$703.5M
FY2024▲ +5%
Total liabilities
$63.4M
FY2024▼ -6%
Total revenue
$66.9M
Pt VIII · Ln 12
Total expenses
$58.3M
Pt IX · Ln 25
Net assets
$640.1M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$8.7M
Total assetsPt X · Ln 16$703.5M
Program-expense ratioPt IX · col B71%
Voting members of governing bodyPt I · Ln 327
Independent voting membersPt I · Ln 426
Mission & Programs · Part III

Where the work happens

1 program service account for $41.1M of program spending, described in the organization's own filed words · FY2024.
01

Education of 381 students in grades eight through twelve in a non-profit, co-educational college preparatory boarding school. The School provides aid assistance for 41% of its students in the form of tuition grants, housing support, travel assistance, and subsidies for books, supplies, and laptop purchases.

$41.1Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CGroton School
EINHdr · item D04-2104265
Principal addressHdr · item CGroton, MA
WebsiteHdr · item Jwww.groton.org
Year of formationHdr · item L1884
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B250)
Ruling yearIRS BMFNov 1934

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a27
Independent voting membersPt VI · Ln 1b26
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 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Headmaster
$689,697Pt VII · Sec A
Director of Development
$489,648Pt VII · Sec A
Chief Financial Officer
$328,550Pt VII · Sec A
Controller and Deputy CFO
$217,228Pt VII · Sec A
Assistant Headmaster
$215,520Pt VII · Sec A
Teacher and Dean of Faculty
$200,640Pt VII · Sec A
Director of Admissions
$197,949Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Temba Maqubela’s $690K as Headmaster is at the 96th percentile of top reported officer pay among 3682 $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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Temba Maqubela$689,697$648,845$692,058$557,609$494,475$602,794
John Maceachern$489,648$319,513$305,431$297,712$293,573$292,058
Julie Dolan$361,650$326,448$321,655$302,717$151,187
John Herlihy$328,550$48,956
Vuyelwa Maqubela$221,913
James Raney$217,228
Harold W Anderson III$215,520$203,305$192,371$186,647$182,506$178,650
John T Conner$200,640

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
Investment income$25.8M · 38%
Program service revenue$23.5M · 35%
Contributions & grants$17.6M · 26%
Investment income38%$25.8M
Program service revenue35%$23.5M
Contributions & grants26%$17.6M
Other revenue$128K
Total revenueLn 12$66.9M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.71 Management & general $0.24 Fundraising $0.05
Program services71%$41.1M
Management & general24%$14.2M
Fundraising5%$3.0M
Total functional expensesLn 25$58.3M

Balance Sheet

Part X · end of year
CashLn 1$2.7M
Total assetsLn 16$703.5M
Total liabilitiesLn 26$63.4M
Total net assetsLn 32$640.1M
Months of cash on handcomputed0.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $556.5M · Operating expenses (Pt IX) $58.3M · Less non-cash grants $808K · Cash operating expenses/yr $57.5M
116.2 months
Where the money goes
Program services
Program services $41.1M · Total expenses $58.3M
71%
Management & General
Management & general $14.2M · Total expenses $58.3M
24%
Fundraising
Fundraising $3.0M · Total expenses $58.3M
5%
Cost to raise $1
Fundraising expense (3-yr avg) $2.6M · Solicited contributions (3-yr avg) $19.4M
$0.14 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $17.6M · Total revenue $66.9M
26%
Government reliance
Government grants $0 · Total revenue $66.9M
0%
Earned-income share
Program service revenue $23.5M · Total revenue $66.9M
35%
Investment reliance
Investment income $25.8M · Total revenue $66.9M
+38%
Program self-sufficiency
Program service revenue $23.5M · Total expenses $58.3M
40%
Growth & trend
Revenue growth (YoY)
This year $66.9M · Prior year $71.6M
-6%
Revenue CAGR
FY2019 $50.7M · FY2024 $66.9M
+6%
Net-asset trend (YoY)
End of year $640.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $66.9M · Expenses $58.3M
+13%
Liabilities-to-Assets
Total liabilities — · Total assets $703.5M
Net-asset ratio
Net assets $640.1M · Total assets $703.5M
91%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $276.2M · Other securities (Pt X, ln 12) $277.6M · Total assets (Pt X, ln 16) $703.5M
79%
People & payroll
Highest Reported Total Compensation
Individual Temba Maqubela · Reported title Headmaster · Highest reported compensation $690K · Total expenses $58.3M
1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $25.6M · Total expenses $58.3M
44%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 71%
Overhead ratio 24%
Fundraising cost ratio 17%
Revenue growth -6%

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
See all 5 funders →
Grants paid · 35 grants · $3.9M · 2019–2024
Unitemized GrantFY2024$385,206
Unitemized GrantFY2024$231,152
Town of GrotonFY2024$205,000
Unitemized GrantFY2024$63,341
Unitemized GrantFY2024$42,337
Town of GrotonFY2024$10,000
Unitemized GrantFY2023$391,506
Town of GrotonFY2023$200,000
Unitemized GrantFY2023$195,376
Unitemized GrantFY2023$51,544
Unitemized GrantFY2023$38,366
Town of GrotonFY2023$20,000
Unitemized GrantFY2022$195,385
Town of GrotonFY2022$190,000
Unitemized GrantFY2022$144,648
Unitemized GrantFY2022$58,499
Unitemized GrantFY2022$37,193
Unitemized GrantFY2021$180,622
See all 35 grants →

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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$71.6M revenue · ⤓ 990 PDF
FY2023$54.7M revenue · ⤓ 990 PDF
FY2022$61.8M revenue · ⤓ 990 PDF
FY2021$71.0M revenue · ⤓ 990 PDF
FY2020$50.7M 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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