Ridgefield Academy INC: Nonprofit Profile, Financials & Form 990 (EIN 06-1492527)

Revenue by fiscal year
FY2020	$14.3M
FY2021	$13.5M
FY2022	$17.0M
FY2023	$19.6M
FY2024	$19.3M
FY2025	$23.5M

Expenses by fiscal year
FY2020	$15.2M
FY2021	$14.0M
FY2022	$15.5M
FY2023	$16.8M
FY2024	$18.0M
FY2025	$18.6M

Net assets by fiscal year
FY2020	$8.7M
FY2021	$9.9M
FY2022	$10.9M
FY2023	$14.5M
FY2024	$16.7M
FY2025	$19.5M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1998.

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

Where the money goes

88 cents of each dollar spent went to programs.

88%

Program services 88% · $16.4M Management & general 7% · $1.4M Fundraising 5% · $867K

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; $1.5M 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

Tom Main

Head of School

$439,361Pt VII · Sec A

Fell Herdeg

Chief Financial Officer

$240,434Pt VII · Sec A

David Suter

Associate Head/Director of Admission

$198,063Pt VII · Sec A

Ann Grasing

Director of Advancement

$192,735Pt VII · Sec A

David Dobson

Associate Head/Academics

$168,025Pt VII · Sec A

Alison O'Callaghan

Head of Preschool & Lower School

$158,265Pt VII · Sec A

Robert Howarth

Head of Middle and Upper School

$140,857Pt VII · Sec A

Marc D'Agostino

Director

$0Pt VII · Sec A

Tom Main’s $439K as Head of School is at the 84th 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
Tom Main	$439,361	$421,140	$430,678	$410,411	$326,969	$346,057
Fell Herdeg	$240,434	$224,455	$191,246	$174,032	$7,429	—
Briggs Tobin	—	—	—	—	$226,000	$205,126
David Suter	$198,063	$194,444	$180,625	$174,000	$165,420	$161,269
Ann Grasing	$192,735	—	—	—	—	—
James P Heus	—	—	—	—	$176,666	$176,666
David Dobson	$168,025	$155,354	—	—	—	—
Alison O'Callaghan	$158,265	$151,545	$144,750	$134,750	$123,500	$117,447

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

Offers educational and other programs to children.

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Provided by the organization

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3 programs · $16.4M · in their own filed words · FY2024

01

Instruction and auxiliary services of approximately 550 pre-school and elementary school aged children by approximately 112 qualified instructors.

$15.9Mprogram expense

02

Conducting summer programs

$288Kprogram expense

03

Conducting an after school program for students

$174Kprogram 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

One Hundred Ways FoundationFY2025$2K

Total grants receivedfrom 1 funder$2K

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$23.5M

Ln 12

Fees for servicesLn 2g$17.8M

Investment incomeLn 3$4.2M

Gifts and grantsLn 1h$1.3M

Money outPt IX

$18.6M

Ln 25

Programscol B$16.4M

Managementcol C$1.4M

Fundraisingcol D$867K

Owns and owesPt X

$19.5M

net assets · Ln 32

Cash and savingsLn 1–2$10.3M

Total assetsLn 16$42.7M

LiabilitiesLn 26$23.2M

PeoplePt VI, VII

24

listed · VII A

PaidVII A7

Voting boardVI 1a17

IndependentVI 1b17

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$1.3M

Noncash giftsLn 1g$44K

Fundraising eventsLn 1c$69K

Fees for servicesLn 2g$17.8M

Investment incomeLn 3$4.2M

Other incomeLn 4–11$215K

Gains on assetsLn 7$3.1M

Total revenueLn 12$23.5M

Assets in detailPt X, end of year

CashLn 1$666K

SavingsLn 2$9.7M

Cash and savings togetherLn 1–2$10.3M

InvestmentsLn 11–13$15.0M

Land, buildings, equipmentLn 10c$10.7M

Other assetsLn 15$615K

Total assetsLn 16$42.7M

LiabilitiesLn 26$23.2M

Net assetsLn 32$19.5M

OperationsPt I, VI

EmployeesI 5206

VolunteersI 680

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	$9.5M	$10.3M
InvestmentsLn 11–13	$11.6M	$15.0M
Land, buildings, equipmentLn 10c	$10.9M	$10.7M
Total assetsLn 16	$40.1M	$42.7M
LiabilitiesLn 26	$23.4M	$23.2M
Net assetsLn 32	$16.7M	$19.5M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$1.7M	$1.7M
Benefits paid to or for membersLn 4	$854K	$854K
Pay of current officers, directors and key staffLn 5	$863K	$455K	$350K	$59K
Other salaries and wagesLn 7	$8.4M	$7.4M	$418K	$494K
Pension plan contributionsLn 8	$304K	$264K	$35K	$5K
Other employee benefitsLn 9	$1.1M	$1.0M	$41K	$26K
Payroll taxesLn 10	$698K	$612K	$48K	$38K
Investment management feesLn 11f	$63K	$63K
Advertising and promotionLn 12	$214K	$214K
Office expensesLn 13	$1.9M	$1.6M	$88K	$225K
Information technologyLn 14	$230K	$230K
OccupancyLn 16	$714K	$630K	$84K
TravelLn 17	$166K	$166K
InterestLn 20	$272K	$245K	$27K
Depreciation, depletion and amortizationLn 22	$1.0M	$864K	$147K
Other expenses (24a–d)Ln 24	$173K	$21K	$131K	$21K
Total functional expensesLn 25	$18.6M	$16.4M	$1.4M	$867K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$23.5M	$18.6M	$4.9M	$19.5M	990 PDF
FY2024	$19.3M	$18.0M	$1.3M	$16.7M	990 PDF
FY2023	$19.6M	$16.8M	$2.8M	$14.5M	990 PDF
FY2022	$17.0M	$15.5M	$1.5M	$10.9M	990 PDF
FY2021	$13.5M	$14.0M	−$464K	$9.9M	990 PDF
FY2020	$14.3M	$15.2M	−$874K	$8.7M	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 $23,461,019 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,113,179$1,252,008

I-9 Program service revenuePrior year $17,334,508$17,828,204

I-10 Investment incomePrior year $627,429$4,165,728

I-11 Other revenuePrior year $193,438$215,079

I-12 Total revenuePrior year $19,268,554$23,461,019

I-13 Grants and similar amounts paidPrior year $1,626,075$1,683,920

I-14 Benefits paid to membersPrior year $981,543$854,261

I-15 Salaries and benefitsPrior year $10,519,282$11,296,023

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

I-17 Other expensesPrior year $4,875,229$4,755,449

I-18 Total expensesPrior year $18,002,129$18,589,653

I-19 Revenue less expensesPrior year $1,266,425$4,871,366

Part VI · Governance 17 of 17 board members independent, no flags

VI-1a Voting members of the governing body17

VI-1b Independent voting members17

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 $23,461,019 across 10 lines filed

VIII-1c Fundraising events$68,950

VIII-1f All other contributions, gifts and grants$1,183,058

VIII-1g Noncash contributions (included above)$43,883

VIII-1h Total contributions, gifts and grants$1,252,008

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $17,828,204$17,828,204

VIII-3 Investment incomeExcluded from tax $1,092,335$1,092,335

VIII-6 Net rental income or lossExcluded from tax $170,497$170,497

VIII-7 Net gain or loss on sales of assetsExcluded from tax $3,073,393$3,073,393

VIII-8 Net income from fundraising eventsExcluded from tax $44,582$44,582

VIII-12 Total revenueRelated to mission $17,828,204 · Unrelated business $0 · Excluded from tax $4,380,807$23,461,019

Part IX · Statement of functional expenses $18,589,653 across 16 lines filed

IX-2 Grants to domestic individualsPrograms $1,683,920$1,683,920

IX-4 Benefits paid to or for membersPrograms $854,261$854,261

IX-5 Pay of current officers, directors and key staffPrograms $454,823 · Management $349,710 · Fundraising $58,663$863,196

IX-7 Other salaries and wagesPrograms $7,448,948 · Management $417,628 · Fundraising $493,855$8,360,431

IX-8 Pension plan contributionsPrograms $264,318 · Management $34,717 · Fundraising $4,646$303,681

IX-9 Other employee benefitsPrograms $1,004,324 · Management $40,593 · Fundraising $26,011$1,070,928

IX-10 Payroll taxesPrograms $612,129 · Management $47,617 · Fundraising $38,041$697,787

IX-11f Investment management feesPrograms $63,482$63,482

IX-12 Advertising and promotionPrograms $214,348$214,348

IX-13 Office expensesPrograms $1,599,464 · Management $88,241 · Fundraising $224,816$1,912,521

IX-14 Information technologyPrograms $229,590$229,590

IX-16 OccupancyPrograms $630,094 · Management $83,677$713,771

IX-17 TravelPrograms $165,868$165,868

IX-20 InterestPrograms $244,721 · Management $27,191$271,912

IX-22 Depreciation, depletion and amortizationPrograms $864,143 · Management $146,960$1,011,103

IX-24 Other expenses (24a–d)Programs $21,286 · Management $130,744 · Fundraising $20,824$172,854

IX-25 Total functional expensesPrograms $16,355,719 · Management $1,367,078 · Fundraising $866,856$18,589,653

Part X · Balance sheet $42,746,193 assets, 18 lines filed

X-1 Cash, non-interest-bearingStart of year $375,805$666,357

X-2 Savings and temporary cash investmentsStart of year $9,154,320$9,658,463

X-3 Pledges and grants receivableStart of year $2,090,955$723,954

X-4 Accounts receivableStart of year $5,136,698$5,184,359

X-9 Prepaid expenses and deferred chargesStart of year $97,590$122,267

X-10c Land, buildings and equipment, netStart of year $10,857,189$10,740,907

X-11 Publicly traded securitiesStart of year $11,643,277$15,034,778

X-15 Other assetsStart of year $734,884$615,108

X-16 Total assetsStart of year $40,090,718$42,746,193

X-17 Accounts payable and accrued expensesStart of year $1,123,778$1,055,563

X-19 Deferred revenueStart of year $13,855,195$14,286,383

X-20 Tax-exempt bond liabilitiesStart of year $7,275,986$7,281,509

X-25 Other liabilitiesStart of year $687,368$258,365

X-26 Total liabilitiesStart of year $23,372,976$23,198,059

X-27 Net assets without donor restrictionsStart of year $13,490,544$15,271,358

X-28 Net assets with donor restrictionsStart of year $3,227,198$4,276,776

X-32 Total net assets or fund balancesStart of year $16,717,742$19,548,134

X-33 Total liabilities and net assetsStart of year $40,090,718$42,746,193

Part XI · Reconciliation of net assets $19,548,134 net assets at year end

XI-1 Total revenue$23,461,019

XI-2 Total expenses$18,589,653

XI-3 Revenue less expenses$4,871,366

XI-4 Net assets at start of year$16,717,742

XI-5 Net unrealized gains (losses) on investments−$2,040,974

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$19,548,134

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

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