Derby Academy Trustees FY2023 filing

Tax-deductible

Hingham, MA501(c)(3)Since 1784EducationEIN 04-2137227Revenue $15.7M in FY2023

On file with the IRSderbyacademy.org56 Burditt Ave, 02043-1846 · Hingham, MATax-exempt since Nov 1934School — 170(b)(1)(A)(ii)

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Education programs and day school for pre-kindergarten through grade 8.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
$931K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $844K a year · 5% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$931K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
8
named funders · $236K
Looks good: 8 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$16.6M
40% of total assets
Looks good: liabilities are 40% of assets; 50% or less.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$15.7M
-3% vs prior year
Spent
$15.6M
To programs
80%
Net assets
$25.0M
By yearFY2020–FY2025
Revenue
$15.7M
FY2023▼ -3%
Tap a bar for its year
Revenue by fiscal year
FY2020$13.2M
FY2021$13.4M
FY2022$16.1M
FY2023$15.7M
FY2024$17.5M
FY2025$18.2M
Expenses
$15.6M
FY2023▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2020$12.6M
FY2021$12.2M
FY2022$14.4M
FY2023$15.6M
FY2024$16.5M
FY2025$17.8M
Net assets
$25.0M
FY2023▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$21.1M
FY2021$25.9M
FY2022$24.1M
FY2023$25.0M
FY2024$27.2M
FY2025$28.4M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1934.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $12.5M Management & general 17% · $2.6M Fundraising 4% · $590K

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

24 people listed on the 990; $931K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Head of School
$301,538Pt VII · Sec A
Chief Financial Officer
$160,225Pt VII · Sec A
Head of Primary and Lower School
$127,074Pt VII · Sec A
HR Manager/ Controller
$124,392Pt VII · Sec A
Dir. of Center for Teaching&learning
$114,184Pt VII · Sec A
Director of Communications
$103,753Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A

Colleen Ramsden’s $332K as Head of School is at the 70th 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Colleen Ramsden$331,500$320,503$301,538$182,308——
Joseph Perry————$292,451$241,650
Anthony Black$216,827$202,487$160,225$150,225$104,709—
John Houghton—————$187,482
Kristin Donelan$172,565$157,004————
Philip Cantillon————$143,064$168,299
Mary Murphy$167,510$150,843$114,184$135,486$111,571—
Thomas Reid———$148,262$131,058—

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

Provides education and a day school for children from pre-kindergarten through eighth grade.

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Provided by the organization

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2 programs · $12.5M · in their own filed words · FY2022
01

Instruction and student activities for approximately 350 students in pre-kindergarden through grade 8. Achievements including academic advancement to the next grade level for all students, social development through classroom activities, team sports, performing arts, family style lunches, and development of the intellectial curiosity of…

$11.9Mprogram expense
02

Summer programs for arts, education, and activities serving approximately 339 students. Achievements include development of student abiltiies in performing arts, creative craft, athletics, scientific exploration, and outdoor activities.

$531Kprogram 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
See all 8 funders →
Grants paid · 4 grants · $2.6M · 2019–2024
Unitemized GrantFY2024$916,784
Unitemized GrantFY2024$190,604
Unitemized GrantFY2020$557,171
Unitemized GrantFY2019$944,448

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$15.7M
Ln 12
Fees for servicesLn 2g$13.9M
Gifts and grantsLn 1h$1.2M
Investment incomeLn 3$443K
Money outPt IX
$15.6M
Ln 25
Programscol B$12.5M
Managementcol C$2.6M
Fundraisingcol D$590K
Owns and owesPt X
$25.0M
net assets · Ln 32
Cash and savingsLn 1–2$3.1M
Total assetsLn 16$41.6M
LiabilitiesLn 26$16.6M
PeoplePt VI, VII
24
listed · VII A
PaidVII A6
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.2M
Noncash giftsLn 1g$11K
Fees for servicesLn 2g$13.9M
Investment incomeLn 3$443K
Other incomeLn 4–11$156K
Gains on assetsLn 7−$88K
Total revenueLn 12$15.7M
Assets in detailPt X, end of year
CashLn 1$125K
SavingsLn 2$3.0M
Cash and savings togetherLn 1–2$3.1M
InvestmentsLn 11–13$13.7M
Land, buildings, equipmentLn 10c$13.6M
Total assetsLn 16$41.6M
LiabilitiesLn 26$16.6M
Net assetsLn 32$25.0M
OperationsPt I, VI
EmployeesI 5171
VolunteersI 6300
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
LineStart FY23End FY23
Cash and savingsLn 1–2$3.2M$3.1M
InvestmentsLn 11–13$13.0M$13.7M
Land, buildings, equipmentLn 10c$13.6M$13.6M
Total assetsLn 16$40.4M$41.6M
LiabilitiesLn 26$16.3M$16.6M
Net assetsLn 32$24.1M$25.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$730K$730K
Pay of current officers, directors and key staffLn 5$590K$36K$445K$109K
Other salaries and wagesLn 7$7.2M$6.2M$780K$226K
Pension plan contributionsLn 8$378K$337K$34K$7K
Other employee benefitsLn 9$1.4M$1.3M$108K$22K
Payroll taxesLn 10$556K$445K$86K$25K
Legal feesLn 11b$142K$142K
Accounting feesLn 11c$83K$83K
Investment management feesLn 11f$53K$53K
Other fees for servicesLn 11g$535K$87K$366K$82K
Advertising and promotionLn 12$97K$51K$30K$15K
Office expensesLn 13$370K$332K$32K$6K
OccupancyLn 16$934K$895K$30K$9K
TravelLn 17$110K$30K$43K$37K
InterestLn 20$87K$22K$65K
Depreciation, depletion and amortizationLn 22$806K$724K$75K$7K
InsuranceLn 23$160K$141K$18K$637
Other expenses (24a–d)Ln 24$1.2M$1.0M$151K$27K
All other expensesLn 24e$213K$141K$54K$17K
Total functional expensesLn 25$15.6M$12.5M$2.6M$590K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $18.2M$17.8M$397K$28.4M 990 PDF
FY2024 $17.5M$16.5M$1.0M$27.2M 990 PDF
FY2023 Viewing $15.7M$15.6M$35K$25.0M 990 PDF
FY2022 $16.1M$14.4M$1.7M$24.1M 990 PDF
FY2021 $13.4M$12.2M$1.2M$25.9M 990 PDF
FY2020 $13.2M$12.6M$640K$21.1M 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 FY2023 990 (6 parts)
Part I · Summary $15,683,278 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,144,537$1,173,646
I-9 Program service revenuePrior year $13,383,866$13,909,937
I-10 Investment incomePrior year $1,437,525$443,488
I-11 Other revenuePrior year $183,726$156,207
I-12 Total revenuePrior year $16,149,654$15,683,278
I-13 Grants and similar amounts paidPrior year $805,460$729,736
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $9,172,921$10,132,715
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $4,448,295$4,785,379
I-18 Total expensesPrior year $14,426,676$15,647,830
I-19 Revenue less expensesPrior year $1,722,978$35,448
Part VI · Governance 18 of 18 board members independent, no flags
VI-1a Voting members of the governing body18
VI-1b Independent voting members18
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 $15,683,278 across 10 lines filed
Lines not itemized here account for $8,176 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$1,173,646
VIII-1g Noncash contributions (included above)$10,570
VIII-1h Total contributions, gifts and grants$1,173,646
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $13,909,937$13,909,937
VIII-3 Investment incomeExcluded from tax $531,459$531,459
VIII-6 Net rental income or lossExcluded from tax $36,850$36,850
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$87,971−$87,971
VIII-8 Net income from fundraising eventsExcluded from tax $26,434$26,434
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $84,747$84,747
VIII-12 Total revenueRelated to mission $14,002,860 · Unrelated business $0 · Excluded from tax $506,772$15,683,278
Part IX · Statement of functional expenses $15,647,830 across 19 lines filed
IX-2 Grants to domestic individualsPrograms $729,736$729,736
IX-5 Pay of current officers, directors and key staffPrograms $36,291 · Management $444,966 · Fundraising $108,874$590,131
IX-7 Other salaries and wagesPrograms $6,171,272 · Management $779,539 · Fundraising $226,208$7,177,019
IX-8 Pension plan contributionsPrograms $336,515 · Management $34,429 · Fundraising $7,083$378,027
IX-9 Other employee benefitsPrograms $1,302,160 · Management $107,655 · Fundraising $21,882$1,431,697
IX-10 Payroll taxesPrograms $445,192 · Management $85,929 · Fundraising $24,720$555,841
IX-11b Legal feesManagement $141,556$141,556
IX-11c Accounting feesManagement $82,750$82,750
IX-11f Investment management feesManagement $52,821$52,821
IX-11g Other fees for servicesPrograms $86,873 · Management $366,130 · Fundraising $82,000$535,003
IX-12 Advertising and promotionPrograms $51,377 · Management $30,155 · Fundraising $15,047$96,579
IX-13 Office expensesPrograms $331,828 · Management $31,801 · Fundraising $6,235$369,864
IX-16 OccupancyPrograms $895,186 · Management $29,778 · Fundraising $9,244$934,208
IX-17 TravelPrograms $30,106 · Management $43,199 · Fundraising $36,912$110,217
IX-20 InterestPrograms $22,131 · Management $64,664$86,795
IX-22 Depreciation, depletion and amortizationPrograms $723,975 · Management $75,381 · Fundraising $6,784$806,140
IX-23 InsurancePrograms $141,272 · Management $18,248 · Fundraising $637$160,157
IX-24 Other expenses (24a–d)Programs $1,018,439 · Management $151,000 · Fundraising $27,326$1,196,765
IX-24e All other expensesPrograms $141,292 · Management $53,765 · Fundraising $17,467$212,524
IX-25 Total functional expensesPrograms $12,463,645 · Management $2,593,766 · Fundraising $590,419$15,647,830
Part X · Balance sheet $41,593,451 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $2,817$124,999
X-2 Savings and temporary cash investmentsStart of year $3,198,952$3,012,734
X-3 Pledges and grants receivableStart of year $150,237$153,879
X-4 Accounts receivableStart of year $10,247,994$10,786,415
X-8 Inventories for sale or useStart of year $32,694$43,673
X-9 Prepaid expenses and deferred chargesStart of year $194,889$147,841
X-10c Land, buildings and equipment, netStart of year $13,561,066$13,606,263
X-11 Publicly traded securitiesStart of year $12,973,798$13,717,647
X-16 Total assetsStart of year $40,362,447$41,593,451
X-17 Accounts payable and accrued expensesStart of year $889,588$790,946
X-19 Deferred revenueStart of year $12,350,930$12,949,258
X-20 Tax-exempt bond liabilitiesStart of year $3,021,078$2,856,884
X-26 Total liabilitiesStart of year $16,261,596$16,597,088
X-27 Net assets without donor restrictionsStart of year $17,088,366$17,678,496
X-28 Net assets with donor restrictionsStart of year $7,012,485$7,317,867
X-32 Total net assets or fund balancesStart of year $24,100,851$24,996,363
X-33 Total liabilities and net assetsStart of year $40,362,447$41,593,451
Part XI · Reconciliation of net assets $24,996,363 net assets at year end
XI-1 Total revenue$15,683,278
XI-2 Total expenses$15,647,830
XI-3 Revenue less expenses$35,448
XI-4 Net assets at start of year$24,100,851
XI-5 Net unrealized gains (losses) on investments$860,064
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$24,996,363

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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