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Carroll School Corp FY2021 filing

Tax-deductible

Lincoln, MA501(c)(3)Since 1952Education EIN 04-2145258Revenue $32.9M in FY2021Latest return filed May 4, 2026

On file with the IRScarrollschool.org25 Baker Bridge Rd, 01773-3104 · Lincoln, MATax-exempt since Jun 1956School — 170(b)(1)(A)(ii)

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Carroll School empowers children with language-based learning differences, such as dyslexia, to become academically skilled students who are strong self-advocates and confident lifelong learners. Carroll is an inclusive community committed to embracing diverse strengths, identities, and lived experiences in order to give each child what they most need to thrive.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$1.4M 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

FY2021 · 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 $7.5M a year · 20% 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
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.4M
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Plus $35.9M in investments, Pt X · Ln 11–13
Looks good: 3.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $11K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$12.3M
16% of total assets
Looks good: liabilities are 16% of assets; 50% or less.
Pt X · Ln 26
Independent board members
30
of 30 voting members
Looks good: 30 of 30 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$32.9M
-16% vs prior year
Spent
$27.2M
To programs
84%
Net assets
$64.2M
By yearFY2020–FY2025
Revenue
$32.9M
FY2021▼ -16%
Tap a bar for its year
Revenue by fiscal year
FY2020$39.2M
FY2021$32.9M
FY2022$30.5M
FY2023$35.7M
FY2024$34.4M
FY2025$48.8M
Expenses
$27.2M
FY2021▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$25.9M
FY2021$27.2M
FY2022$28.1M
FY2023$29.4M
FY2024$32.5M
FY2025$33.4M
Net assets
$64.2M
FY2021▲ +18%
Tap a bar for its year
Net assets by fiscal year
FY2020$54.6M
FY2021$64.2M
FY2022$61.0M
FY2023$71.0M
FY2024$78.2M
FY2025$88.7M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 Jun 1956.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $22.9M Management & general 12% · $3.1M Fundraising 4% · $1.1M

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

38 people listed on the 990; $1.4M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Steve Wilkins
Head of School
$362,446Pt VII · Sec A
Judi Seldin
Assistant Head of School
$224,232Pt VII · Sec A
Jennifer Brock
Head of Product/Cog. Inter
$153,220Pt VII · Sec A
$131,748Pt VII · Sec A
Susan Kingman
Lower School Div. Head
$128,375Pt VII · Sec A
Naomi Hitchcock
Director of Development
$123,911Pt VII · Sec A
Allison West
Middle School Div. Head
$120,288Pt VII · Sec A
Stacey Daniels
Director of Admissions
$114,995Pt VII · Sec A

Renee Greenfield’s $325K as Head of School is at the 69th 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
Steve Wilkins—$184,383$164,200$333,818$362,446$360,952
Judi Seldin$229,419$327,825$275,053$247,114$224,232$217,822
Renee Greenfield$325,115$314,301$303,245$163,286——
Meaghan Kilian$178,494—————
Jennifer Brock$175,631$168,295$162,740$158,444$153,220$149,631
Patrick Sylvester——$160,702———
Deborah McCarthy$150,324$145,847$142,917$136,945$131,748$127,990
Stacey Daniels$148,152$135,842$129,755$122,183$114,995—

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

Empowers children with dyslexia to become skilled, confident learners and self-advocates.

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3 programs · $22.7M · in their own filed words · FY2020
01

Day school for dyslexic children serving approximately 436 students.

$21.9Mprogram expense
02

Summer program for dyslexic children serving approximately 185 students.

$514Kprogram expense
03

Other Program Services

Garside institue for teacher training (giftt) programs, masters program, and math & teacher workshops

$330Kprogram 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 · FY2025
Pond Family FoundationFY2025$6K
Salem Five Charitable Foundation INCFY2025$5K
Baker Root Family Foundation INCFY2025$200
Total grants receivedfrom 3 funders$11K
See all 3 funders →
Grants paid · 6 grants · $21.8M · 2019–2024
Unitemized GrantFY2024$4,652,393
Unitemized GrantFY2023$4,259,588
Unitemized GrantFY2022$3,545,135
Unitemized GrantFY2021$3,414,100
Unitemized GrantFY2020$3,164,888
Unitemized GrantFY2019$2,722,835

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$32.9M
Ln 12
Fees for servicesLn 2g$25.0M
Gifts and grantsLn 1h$5.8M
Investment incomeLn 3$2.1M
Money outPt IX
$27.2M
Ln 25
Programscol B$22.9M
Managementcol C$3.1M
Fundraisingcol D$1.1M
Owns and owesPt X
$64.2M
net assets · Ln 32
Cash and savingsLn 1–2$6.7M
Total assetsLn 16$76.5M
LiabilitiesLn 26$12.3M
PeoplePt VI, VII
38
listed · VII A
PaidVII A8
Voting boardVI 1a30
IndependentVI 1b30
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.8M
Government grantsLn 1e$2.5M
Noncash giftsLn 1g$201K
Fees for servicesLn 2g$25.0M
Investment incomeLn 3$2.1M
Other incomeLn 4–11$95K
Gains on assetsLn 7$1.1M
Total revenueLn 12$32.9M
Assets in detailPt X, end of year
CashLn 1$5.3M
SavingsLn 2$1.4M
Cash and savings togetherLn 1–2$6.7M
InvestmentsLn 11–13$35.9M
Land, buildings, equipmentLn 10c$31.2M
Other assetsLn 15$424K
Total assetsLn 16$76.5M
LiabilitiesLn 26$12.3M
Net assetsLn 32$64.2M
OperationsPt I, VI
EmployeesI 5346
VolunteersI 6156
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$201K
EndowmentSch D · Pt V
LineFY21FY20FY19FY18FY17
End of yearLn 1g$35.5M$18.1M$14.9M$11.9M$10.3M
Given inLn 1b$12.6M$2.5M$3.2M$1.1M$1.7M
SpentLn 1d–1f$685K$516K$476K$375K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$10.2M$6.7M
InvestmentsLn 11–13$18.4M$35.9M
Land, buildings, equipmentLn 10c$33.0M$31.2M
Total assetsLn 16$65.3M$76.5M
LiabilitiesLn 26$10.7M$12.3M
Net assetsLn 32$54.6M$64.2M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$3.2M$3.2M
Pay of current officers, directors and key staffLn 5$878K$300K$557K$20K
Other salaries and wagesLn 7$14.1M$12.2M$1.2M$647K
Pension plan contributionsLn 8$551K$465K$62K$24K
Other employee benefitsLn 9$2.2M$2.0M$167K$101K
Payroll taxesLn 10$1.1M$915K$112K$48K
Legal feesLn 11b$461K$359K$64K$38K
Accounting feesLn 11c$62K$62K
OccupancyLn 16$2.0M$1.8M$149K$40K
Depreciation, depletion and amortizationLn 22$1.3M$1.2M$96K$26K
Other expenses (24a–d)Ln 24$1.4M$566K$669K$148K
Total functional expensesLn 25$27.2M$22.9M$3.1M$1.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 4, 2026 $48.8M$33.4M$15.4M$88.7M 990 PDF
FY2024Filed with the IRS May 13, 2025 $34.4M$32.5M$1.9M$78.2M 990 PDF
FY2023Filed with the IRS May 3, 2024 $35.7M$29.4M$6.3M$71.0M 990 PDF
FY2022Filed with the IRS Apr 24, 2023 $30.5M$28.1M$2.4M$61.0M 990 PDF
FY2021 ViewingFiled with the IRS May 4, 2022 $32.9M$27.2M$5.7M$64.2M 990 PDF
FY2020Filed with the IRS May 17, 2021 $39.2M$25.9M$13.3M$54.6M 990 PDF

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 FY2021 990 (6 parts)
Part I · Summary $32,903,152 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $13,748,649$5,762,891
I-9 Program service revenuePrior year $24,979,832$24,982,849
I-10 Investment incomePrior year $372,964$2,062,088
I-11 Other revenuePrior year $100,192$95,324
I-12 Total revenuePrior year $39,201,637$32,903,152
I-13 Grants and similar amounts paidPrior year $3,122,835$3,164,888
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $18,083,334$18,779,698
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $4,739,363$5,217,257
I-18 Total expensesPrior year $25,945,532$27,161,843
I-19 Revenue less expensesPrior year $13,256,105$5,741,309
Part VI · Governance 30 of 30 board members independent, no flags
VI-1a Voting members of the governing body30
VI-1b Independent voting members30
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 $32,903,152 across 9 lines filed
VIII-1e Government grants$2,453,690
VIII-1f All other contributions, gifts and grants$3,309,201
VIII-1g Noncash contributions (included above)$200,555
VIII-1h Total contributions, gifts and grants$5,762,891
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $24,982,849$24,982,849
VIII-3 Investment incomeExcluded from tax $997,948$997,948
VIII-7 Net gain or loss on sales of assetsRelated to mission $336,399 · Excluded from tax $727,741$1,064,140
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $95,324$95,324
VIII-12 Total revenueRelated to mission $25,414,572 · Unrelated business $0 · Excluded from tax $1,725,689$32,903,152
Part IX · Statement of functional expenses $27,161,843 across 11 lines filed
IX-2 Grants to domestic individualsPrograms $3,164,888$3,164,888
IX-5 Pay of current officers, directors and key staffPrograms $300,387 · Management $557,216 · Fundraising $20,026$877,629
IX-7 Other salaries and wagesPrograms $12,200,762 · Management $1,204,311 · Fundraising $646,518$14,051,591
IX-8 Pension plan contributionsPrograms $465,155 · Management $62,200 · Fundraising $24,062$551,417
IX-9 Other employee benefitsPrograms $1,956,659 · Management $166,522 · Fundraising $100,583$2,223,764
IX-10 Payroll taxesPrograms $915,157 · Management $112,108 · Fundraising $48,032$1,075,297
IX-11b Legal feesPrograms $359,171 · Management $63,847 · Fundraising $37,599$460,617
IX-11c Accounting feesManagement $61,671$61,671
IX-16 OccupancyPrograms $1,822,077 · Management $148,617 · Fundraising $40,132$2,010,826
IX-22 Depreciation, depletion and amortizationPrograms $1,179,405 · Management $96,197 · Fundraising $25,977$1,301,579
IX-24 Other expenses (24a–d)Programs $565,702 · Management $668,603 · Fundraising $148,259$1,382,564
IX-25 Total functional expensesPrograms $22,929,363 · Management $3,141,292 · Fundraising $1,091,188$27,161,843
Part X · Balance sheet $76,520,468 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $5,060,396$5,287,700
X-2 Savings and temporary cash investmentsStart of year $5,103,683$1,394,604
X-3 Pledges and grants receivableStart of year $2,929,039$1,868,266
X-4 Accounts receivableStart of year $76,085$33,239
X-9 Prepaid expenses and deferred chargesStart of year $180,431$395,295
X-10c Land, buildings and equipment, netStart of year $32,971,638$31,223,463
X-11 Publicly traded securitiesStart of year $18,355,372$35,893,923
X-15 Other assetsStart of year $652,205$423,978
X-16 Total assetsStart of year $65,328,849$76,520,468
X-17 Accounts payable and accrued expensesStart of year $388,001$603,388
X-19 Deferred revenueStart of year $6,768,428$11,355,421
X-25 Other liabilitiesStart of year $277,860$387,670
X-26 Total liabilitiesStart of year $10,732,489$12,346,479
X-27 Net assets without donor restrictionsStart of year $38,030,977$43,485,573
X-28 Net assets with donor restrictionsStart of year $16,565,383$20,688,416
X-32 Total net assets or fund balancesStart of year $54,596,360$64,173,989
X-33 Total liabilities and net assetsStart of year $65,328,849$76,520,468
Part XI · Reconciliation of net assets $64,173,989 net assets at year end
XI-1 Total revenue$32,903,152
XI-2 Total expenses$27,161,843
XI-3 Revenue less expenses$5,741,309
XI-4 Net assets at start of year$54,596,360
XI-5 Net unrealized gains (losses) on investments$3,823,922
XI-9 Other changes in net assets$12,398
XI-10 Net assets at end of year$64,173,989

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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