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Carroll School Corp FY2022 filing

Tax-deductible

Lincoln, MA501(c)(3)Since 1952Education EIN 04-2145258Revenue $30.5M in FY2022Latest 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.
86¢ 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

FY2022 · 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
86%
of spending
Looks good: 86% 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 $33.6M in investments, Pt X · Ln 11–13
Looks good: 3.4 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
$12.5M
17% of total assets
Looks good: liabilities are 17% 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
$30.5M
-7% vs prior year
Spent
$28.1M
To programs
86%
Net assets
$61.0M
By yearFY2020–FY2025
Revenue
$30.5M
FY2022▼ -7%
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
$28.1M
FY2022▲ +3%
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
$61.0M
FY2022▼ -5%
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 FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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

86 cents of each dollar spent went to programs.

Program services 86% · $24.1M Management & general 11% · $3.0M Fundraising 4% · $1.0M

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

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

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Steve Wilkins
Head Mentor (past Head of School)
$333,818Pt VII · Sec A
Judi Seldin
Assistant Head of School
$247,114Pt VII · Sec A
Renee Greenfield
Head of School
$163,286Pt VII · Sec A
Jennifer Brock
Head of Product/Cog. Intervention
$158,444Pt VII · Sec A
$136,945Pt VII · Sec A
Susan Kingman
Lower School Div. Head
$134,034Pt VII · Sec A
Naomi Hitchcock
Director of Development
$129,101Pt VII · Sec A
Stacey Daniels
Chief Enrollment and Fa Officer
$122,183Pt 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 · $23.7M · in their own filed words · FY2021
01

Day school for dyslexic children serving approximately 441 students.

$22.5Mprogram expense
02

Summer program for dyslexic children serving approximately 186 students.

$730Kprogram expense
03

Other Program Services

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

$404Kprogram 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 FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$30.5M
Ln 12
Fees for servicesLn 2g$27.3M
Gifts and grantsLn 1h$2.5M
Investment incomeLn 3$629K
Money outPt IX
$28.1M
Ln 25
Programscol B$24.1M
Managementcol C$3.0M
Fundraisingcol D$1.0M
Owns and owesPt X
$61.0M
net assets · Ln 32
Cash and savingsLn 1–2$8.0M
Total assetsLn 16$73.5M
LiabilitiesLn 26$12.5M
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$2.5M
Noncash giftsLn 1g$207K
Fees for servicesLn 2g$27.3M
Investment incomeLn 3$629K
Other incomeLn 4–11$56K
Gains on assetsLn 7$17K
Total revenueLn 12$30.5M
Assets in detailPt X, end of year
CashLn 1$6.4M
SavingsLn 2$1.6M
Cash and savings togetherLn 1–2$8.0M
InvestmentsLn 11–13$33.6M
Land, buildings, equipmentLn 10c$30.6M
Other assetsLn 15$87K
Total assetsLn 16$73.5M
LiabilitiesLn 26$12.5M
Net assetsLn 32$61.0M
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$207K
EndowmentSch D · Pt V
LineFY22FY21FY20FY19FY18
End of yearLn 1g$33.3M$35.5M$18.1M$14.9M$11.9M
Given inLn 1b$3.7M$12.6M$2.5M$3.2M$1.1M
SpentLn 1d–1f$1.0M$685K$516K$476K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$6.7M$8.0M
InvestmentsLn 11–13$35.9M$33.6M
Land, buildings, equipmentLn 10c$31.2M$30.6M
Total assetsLn 16$76.5M$73.5M
LiabilitiesLn 26$12.3M$12.5M
Net assetsLn 32$64.2M$61.0M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$3.4M$3.4M
Pay of current officers, directors and key staffLn 5$1.3M$552K$679K$37K
Other salaries and wagesLn 7$14.4M$12.6M$1.2M$632K
Pension plan contributionsLn 8$552K$461K$66K$24K
Other employee benefitsLn 9$2.1M$1.9M$158K$96K
Payroll taxesLn 10$1.1M$959K$102K$48K
Legal feesLn 11b$60K$48K$9K$3K
Accounting feesLn 11c$53K$53K
OccupancyLn 16$2.0M$1.8M$142K$38K
TravelLn 17$159$129$30
Depreciation, depletion and amortizationLn 22$1.2M$1.1M$90K$24K
Other expenses (24a–d)Ln 24$1.9M$1.3M$474K$105K
Total functional expensesLn 25$28.1M$24.1M$3.0M$1.0M

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
FY2022 ViewingFiled with the IRS Apr 24, 2023 $30.5M$28.1M$2.4M$61.0M 990 PDF
FY2021Filed 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 FY2022 990 (6 parts)
Part I · Summary $30,503,335 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,762,891$2,548,672
I-9 Program service revenuePrior year $24,982,849$27,269,861
I-10 Investment incomePrior year $2,062,088$628,943
I-11 Other revenuePrior year $95,324$55,859
I-12 Total revenuePrior year $32,903,152$30,503,335
I-13 Grants and similar amounts paidPrior year $3,164,888$3,414,100
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $18,779,698$19,501,004
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $5,217,257$5,154,206
I-18 Total expensesPrior year $27,161,843$28,069,310
I-19 Revenue less expensesPrior year $5,741,309$2,434,025
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 $30,503,335 across 8 lines filed
VIII-1f All other contributions, gifts and grants$2,548,672
VIII-1g Noncash contributions (included above)$206,950
VIII-1h Total contributions, gifts and grants$2,548,672
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $27,269,861$27,269,861
VIII-3 Investment incomeExcluded from tax $611,846$611,846
VIII-7 Net gain or loss on sales of assetsExcluded from tax $17,097$17,097
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $55,859$55,859
VIII-12 Total revenueRelated to mission $27,325,720 · Unrelated business $0 · Excluded from tax $628,943$30,503,335
Part IX · Statement of functional expenses $28,069,310 across 12 lines filed
IX-2 Grants to domestic individualsPrograms $3,414,100$3,414,100
IX-5 Pay of current officers, directors and key staffPrograms $552,416 · Management $679,224 · Fundraising $36,690$1,268,330
IX-7 Other salaries and wagesPrograms $12,622,527 · Management $1,182,816 · Fundraising $632,020$14,437,363
IX-8 Pension plan contributionsPrograms $461,423 · Management $66,418 · Fundraising $23,792$551,633
IX-9 Other employee benefitsPrograms $1,881,273 · Management $158,320 · Fundraising $95,905$2,135,498
IX-10 Payroll taxesPrograms $958,856 · Management $101,691 · Fundraising $47,633$1,108,180
IX-11b Legal feesPrograms $47,912 · Management $8,563 · Fundraising $3,090$59,565
IX-11c Accounting feesManagement $52,656$52,656
IX-16 OccupancyPrograms $1,786,502 · Management $141,574 · Fundraising $38,230$1,966,306
IX-17 TravelManagement $129 · Fundraising $30$159
IX-22 Depreciation, depletion and amortizationPrograms $1,106,324 · Management $90,237 · Fundraising $24,367$1,220,928
IX-24 Other expenses (24a–d)Programs $1,276,155 · Management $473,594 · Fundraising $104,843$1,854,592
IX-25 Total functional expensesPrograms $24,107,488 · Management $2,955,222 · Fundraising $1,006,600$28,069,310
Part X · Balance sheet $73,519,260 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $5,287,700$6,365,678
X-2 Savings and temporary cash investmentsStart of year $1,394,604$1,611,908
X-3 Pledges and grants receivableStart of year $1,868,266$786,950
X-4 Accounts receivableStart of year $33,239$499
X-9 Prepaid expenses and deferred chargesStart of year $395,295$432,805
X-10c Land, buildings and equipment, netStart of year $31,223,463$30,615,815
X-11 Publicly traded securitiesStart of year $35,893,923$33,618,490
X-15 Other assetsStart of year $423,978$87,115
X-16 Total assetsStart of year $76,520,468$73,519,260
X-17 Accounts payable and accrued expensesStart of year $603,388$498,056
X-19 Deferred revenueStart of year $11,355,421$11,633,525
X-25 Other liabilitiesStart of year $387,670$353,827
X-26 Total liabilitiesStart of year $12,346,479$12,485,408
X-27 Net assets without donor restrictionsStart of year $43,485,573$43,108,895
X-28 Net assets with donor restrictionsStart of year $20,688,416$17,924,957
X-32 Total net assets or fund balancesStart of year $64,173,989$61,033,852
X-33 Total liabilities and net assetsStart of year $76,520,468$73,519,260
Part XI · Reconciliation of net assets $61,033,852 net assets at year end
XI-1 Total revenue$30,503,335
XI-2 Total expenses$28,069,310
XI-3 Revenue less expenses$2,434,025
XI-4 Net assets at start of year$64,173,989
XI-5 Net unrealized gains (losses) on investments−$5,536,931
XI-9 Other changes in net assets−$37,231
XI-10 Net assets at end of year$61,033,852

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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