Winsor School INC: Nonprofit Profile, Financials & Form 990 (EIN 04-2105842)

Revenue by fiscal year
FY2020	$34.5M
FY2021	$31.4M
FY2022	$35.4M
FY2023	$39.8M
FY2024	$41.2M
FY2025	$43.4M

Expenses by fiscal year
FY2020	$31.6M
FY2021	$34.1M
FY2022	$36.7M
FY2023	$37.3M
FY2024	$40.5M
FY2025	$41.9M

Net assets by fiscal year
FY2020	$152.2M
FY2021	$171.6M
FY2022	$159.6M
FY2023	$171.7M
FY2024	$188.3M
FY2025	$206.0M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1972.

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

Where the money goes

75 cents of each dollar spent went to programs.

75%

18%

Program services 75% · $31.4M Management & general 18% · $7.6M Fundraising 7% · $3.0M

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

34 people listed on the 990; $2.1M 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

Sarah Pelmas

Head of School

$627,952Pt VII · Sec A

Karen Geromini

Chief Operating Officer

$311,226Pt VII · Sec A

Kate M A Caspar

Associate Head of School

$251,338Pt VII · Sec A

Erika McMahon

Dir. of Advancement, Campaign Dir.

$197,419Pt VII · Sec A

John Crompton

Dir. of Facilities & Construction

$197,299Pt VII · Sec A

Sharon Jones Phinney

Head of Lower School

$192,298Pt VII · Sec A

Martha Browning

Director of Strategic Communications

$191,937Pt VII · Sec A

Marcus Young

Director of Technology

$175,258Pt VII · Sec A

Sarah Pelmas’s $628K as Head of School is at the 94th 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
Sarah Pelmas	$627,952	$828,035	$599,107	$560,381	$529,175	$461,558
Karen Geromini	$311,226	$282,004	$249,777	$232,994	$213,021	$172,596
Kate M A Caspar	$251,338	$254,431	$224,094	$215,197	$202,161	$191,117
Sue Kim	—	—	—	$239,466	$224,959	$212,669
Richard Bernasco	—	$198,780	—	—	—	—
Erika McMahon	$197,419	$176,075	$164,657	—	—	—
John Crompton	$197,299	$187,122	$182,638	$171,320	$155,634	$147,033
Sharon Jones Phinney	$192,298	$182,881	$174,929	$168,276	$156,386	—

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 girls grades 5-12, preparing them for college and life with strong arts and athletics.

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Provided by the organization

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2 programs · $31.4M · in their own filed words · FY2024

01

The winsor school offers a rich and challenging curriculum to academically motivated girls in grades 5-12. Winsor defines curriculum as the total classroom learning experience for all students.

$25.7Mprogram expense

02

Winsor believes in enrolling talented students with great potential regardless of their families' financial circumstances, and awards over $5.6 million annually in need-based financial aid to make the school financially accessible to a range of families.

$5.6Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record

Grants received · FY2025

Epker-Sinha FoundationFY2025$250K

Total grants receivedfrom 1 funder$250K

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$43.4M

Ln 12

Fees for servicesLn 2g$30.3M

Gifts and grantsLn 1h$10.1M

Investment incomeLn 3$2.3M

Money outPt IX

$41.9M

Ln 25

Programscol B$31.4M

Managementcol C$7.6M

Fundraisingcol D$3.0M

Owns and owesPt X

$206.0M

net assets · Ln 32

Cash and savingsLn 1–2$3.5M

Total assetsLn 16$256.7M

LiabilitiesLn 26$50.7M

PeoplePt VI, VII

34

listed · VII A

PaidVII A8

Voting boardVI 1a27

IndependentVI 1b25

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$10.1M

Noncash giftsLn 1g$548K

Fees for servicesLn 2g$30.3M

Investment incomeLn 3$2.3M

Other incomeLn 4–11$765K

Gains on assetsLn 7$1.0M

Total revenueLn 12$43.4M

Assets in detailPt X, end of year

CashLn 1$3.5M

Cash and savings togetherLn 1–2$3.5M

InvestmentsLn 11–13$155.2M

Land, buildings, equipmentLn 10c$93.4M

Total assetsLn 16$256.7M

LiabilitiesLn 26$50.7M

Net assetsLn 32$206.0M

OperationsPt I, VI

EmployeesI 5245

VolunteersI 6100

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 FY25	End FY25
Cash and savingsLn 1–2	$2.7M	$3.5M
InvestmentsLn 11–13	$136.3M	$155.2M
Land, buildings, equipmentLn 10c	$90.0M	$93.4M
Total assetsLn 16	$235.1M	$256.7M
LiabilitiesLn 26	$46.8M	$50.7M
Net assetsLn 32	$188.3M	$206.0M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$5.6M	$5.6M
Pay of current officers, directors and key staffLn 5	$1.4M	$778K	$372K	$259K
Other salaries and wagesLn 7	$15.0M	$12.0M	$1.8M	$1.2M
Pension plan contributionsLn 8	$1.0M	$888K	$81K	$75K
Other employee benefitsLn 9	$1.6M	$1.4M	$113K	$151K
Payroll taxesLn 10	$1.1M	$727K	$285K	$104K
Legal feesLn 11b	$174K		$174K
Accounting feesLn 11c	$115K		$115K
Investment management feesLn 11f	$950K		$950K
Other fees for servicesLn 11g	$3.6M	$1.7M	$1.5M	$389K
OccupancyLn 16	$1.6M	$1.6M
Conferences, conventions and meetingsLn 19	$458K	$104K	$318K	$37K
Depreciation, depletion and amortizationLn 22	$4.4M	$3.0M	$947K	$449K
InsuranceLn 23	$275K		$275K
Other expenses (24a–d)Ln 24	$3.5M	$3.1M	$388K	$63K
All other expensesLn 24e	$959K	$382K	$262K	$316K
Total functional expensesLn 25	$41.9M	$31.4M	$7.6M	$3.0M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$43.4M	$41.9M	$1.5M	$206.0M	990 PDF
FY2024	$41.2M	$40.5M	$708K	$188.3M	990 PDF
FY2023	$39.8M	$37.3M	$2.4M	$171.7M	990 PDF
FY2022	$35.4M	$36.7M	−$1.3M	$159.6M	990 PDF
FY2021	$31.4M	$34.1M	−$2.7M	$171.6M	990 PDF
FY2020	$34.5M	$31.6M	$3.0M	$152.2M	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 $43,443,149 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $10,141,714$10,078,163

I-9 Program service revenuePrior year $28,966,555$30,346,420

I-10 Investment incomePrior year $1,393,970$2,253,555

I-11 Other revenuePrior year $689,488$765,011

I-12 Total revenuePrior year $41,191,727$43,443,149

I-13 Grants and similar amounts paidPrior year $5,458,563$5,632,895

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

I-15 Salaries and benefitsPrior year $18,748,601$20,170,683

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

I-17 Other expensesPrior year $16,276,152$16,131,686

I-18 Total expensesPrior year $40,483,316$41,935,264

I-19 Revenue less expensesPrior year $708,411$1,507,885

Part VI · Governance 25 of 27 board members independent, no flags

VI-1a Voting members of the governing body27

VI-1b Independent voting members25

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 $43,443,149 across 9 lines filed

VIII-1f All other contributions, gifts and grants$10,078,163

VIII-1g Noncash contributions (included above)$548,145

VIII-1h Total contributions, gifts and grants$10,078,163

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $30,346,420$30,346,420

VIII-3 Investment incomeUnrelated business −$118,315 · Excluded from tax $1,355,625$1,237,310

VIII-6 Net rental income or lossRelated to mission $636,437$636,437

VIII-7 Net gain or loss on sales of assetsUnrelated business $34,801 · Excluded from tax $981,444$1,016,245

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $128,574$128,574

VIII-12 Total revenueRelated to mission $31,111,431 · Unrelated business −$83,514 · Excluded from tax $2,337,069$43,443,149

Part IX · Statement of functional expenses $41,935,264 across 16 lines filed

IX-2 Grants to domestic individualsPrograms $5,632,895$5,632,895

IX-5 Pay of current officers, directors and key staffPrograms $778,228 · Management $372,111 · Fundraising $258,685$1,409,024

IX-7 Other salaries and wagesPrograms $12,021,986 · Management $1,800,131 · Fundraising $1,157,552$14,979,669

IX-8 Pension plan contributionsPrograms $888,056 · Management $80,896 · Fundraising $74,837$1,043,789

IX-9 Other employee benefitsPrograms $1,358,418 · Management $113,277 · Fundraising $150,727$1,622,422

IX-10 Payroll taxesPrograms $726,511 · Management $285,451 · Fundraising $103,817$1,115,779

IX-11b Legal feesManagement $173,503$173,503

IX-11c Accounting feesManagement $114,830$114,830

IX-11f Investment management feesManagement $950,441$950,441

IX-11g Other fees for servicesPrograms $1,709,331 · Management $1,500,842 · Fundraising $388,674$3,598,847

IX-16 OccupancyPrograms $1,647,948$1,647,948

IX-19 Conferences, conventions and meetingsPrograms $103,526 · Management $317,989 · Fundraising $36,890$458,405

IX-22 Depreciation, depletion and amortizationPrograms $3,044,894 · Management $947,477 · Fundraising $448,867$4,441,238

IX-23 InsuranceManagement $275,438$275,438

IX-24 Other expenses (24a–d)Programs $3,060,714 · Management $387,873 · Fundraising $63,472$3,512,059

IX-24e All other expensesPrograms $381,807 · Management $261,620 · Fundraising $315,550$958,977

IX-25 Total functional expensesPrograms $31,354,314 · Management $7,581,879 · Fundraising $2,999,071$41,935,264

Part X · Balance sheet $256,707,059 assets, 18 lines filed

X-1 Cash, non-interest-bearingStart of year $2,728,180$3,508,992

X-3 Pledges and grants receivableStart of year $4,335,141$2,482,587

X-4 Accounts receivableStart of year $61,861$149,839

X-8 Inventories for sale or useStart of year $74,959$43,309

X-9 Prepaid expenses and deferred chargesStart of year $1,616,621$1,933,925

X-10c Land, buildings and equipment, netStart of year $89,964,624$93,411,665

X-11 Publicly traded securitiesStart of year $21,609,213$33,111,764

X-12 Other securitiesStart of year $114,674,717$122,064,978

X-16 Total assetsStart of year $235,065,316$256,707,059

X-17 Accounts payable and accrued expensesStart of year $4,396,950$7,475,351

X-19 Deferred revenueStart of year $3,098,303$3,594,418

X-20 Tax-exempt bond liabilitiesStart of year $38,292,004$38,055,874

X-25 Other liabilitiesStart of year $977,578$1,554,132

X-26 Total liabilitiesStart of year $46,764,835$50,679,775

X-27 Net assets without donor restrictionsStart of year $94,874,847$97,245,983

X-28 Net assets with donor restrictionsStart of year $93,425,634$108,781,301

X-32 Total net assets or fund balancesStart of year $188,300,481$206,027,284

X-33 Total liabilities and net assetsStart of year $235,065,316$256,707,059

Part XI · Reconciliation of net assets $206,027,284 net assets at year end

XI-1 Total revenue$43,443,149

XI-2 Total expenses$41,935,264

XI-3 Revenue less expenses$1,507,885

XI-4 Net assets at start of year$188,300,481

XI-5 Net unrealized gains (losses) on investments$16,218,918

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$206,027,284

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

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