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Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1942.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
87 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
38 people listed on the 990; $3.4M paid to officers and key staff.
Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Head of School
$886,860Pt VII · Sec A
Director of Finance&operations
$502,267Pt VII · Sec A
Head of Middle School
$268,649Pt VII · Sec A
Head of Upper School
$268,513Pt VII · Sec A
Head of Lower School
$267,949Pt VII · Sec A
Information Systems Manager
$265,887Pt VII · Sec A
Director of Teaching and Learn
$263,854Pt VII · Sec A
Dir Academic Prgrms/Technology
$250,379Pt VII · Sec A
Co-Dir. of College Counseling
$234,405Pt VII · Sec A
Director of Admissions
$232,807Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Felicia Wilks’s $829K as Head of School is at the 98th 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 |
|---|---|---|---|---|---|---|
| Ellanor N Brizendine | — | $596,820 | $740,093 | $966,344 | $930,151 | $886,860 |
| Felicia Wilks | $829,470 | $759,003 | $381,500 | — | — | — |
| Elyse Waterhouse | — | $334,280 | $560,169 | $651,356 | $531,167 | $502,267 |
| Bruce Orem | $533,604 | $492,000 | $240,000 | — | — | — |
| Karen Sullivan | $521,562 | $317,324 | $305,324 | $293,924 | $282,374 | $268,649 |
| Elizabeth Causey | $331,476 | $317,274 | $303,674 | $292,673 | $281,874 | $267,949 |
| Eric Zahler | $326,996 | $307,184 | $304,024 | $294,224 | $285,104 | $263,854 |
| Michele Murphy | $317,482 | $303,736 | $290,616 | $273,457 | $263,804 | $250,379 |
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.
See The Spence School executive salaries →Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Empowers diverse girls and young women for personal and global transformation.
Questions for The Spence School
Your first name shows with your question. The Spence School answers here, for everyone.
1 program · $46.2M · in their own filed words · FY2019
01
The spence school is an independent, college preparatory day school providing an education for girls in grades kindergarten through 12.
$46.2Mprogram 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
The Ayco Charitable FoundationFY2025$10K
Select Equity Group FoundationFY2025$10K
Sharrock Family Charitable TrFY2025$1K
Total grants receivedfrom 4 funders$36K
By the numbers
The FY2020 990, line by line.
Download 990
1The main four
Money inPt VIII
$72.7M
Ln 12
Fees for servicesLn 2g$42.7M
Gifts and grantsLn 1h$26.8M
Investment incomeLn 3$3.2M
Money outPt IX
$52.9M
Ln 25
Programscol B$46.2M
Managementcol C$4.7M
Fundraisingcol D$1.9M
Owns and owesPt X
$311.8M
net assets · Ln 32
Cash and savingsLn 1–2$18.6M
Total assetsLn 16$336.7M
LiabilitiesLn 26$24.9M
PeoplePt VI, VII
38
listed · VII A
PaidVII A10
Voting boardVI 1a28
IndependentVI 1b28
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$26.8M
Government grantsLn 1e$422K
Noncash giftsLn 1g$1.6M
Fundraising eventsLn 1c$334K
Fees for servicesLn 2g$42.7M
Investment incomeLn 3$3.2M
Gains on assetsLn 7$993K
Total revenueLn 12$72.7M
Assets in detailPt X, end of year
CashLn 1$2K
SavingsLn 2$18.6M
Cash and savings togetherLn 1–2$18.6M
InvestmentsLn 11–13$101.3M
Land, buildings, equipmentLn 10c$197.3M
Other assetsLn 15$533K
Total assetsLn 16$336.7M
LiabilitiesLn 26$24.9M
Net assetsLn 32$311.8M
OperationsPt I, VI
EmployeesI 5421
VolunteersI 6400
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$10.4M
Bond issues listedSch K Pt I1
Raised by those issuesSch K Pt I$14.1M
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$1.6M
EndowmentSch D · Pt V
| Line | FY20 | FY19 | FY18 | FY17 | FY16 |
|---|---|---|---|---|---|
| End of yearLn 1g | $109.8M | $90.1M | $88.0M | $84.9M | $80.2M |
| Given inLn 1b | $21.6M | $990K | $716K | $958K | $6.3M |
| SpentLn 1d–1f | $4.2M | $3.9M | $3.7M | $3.5M | $3.3M |
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $41.8M | $18.6M |
| InvestmentsLn 11–13 | $91.9M | $101.3M |
| Land, buildings, equipmentLn 10c | $173.9M | $197.3M |
| Total assetsLn 16 | $319.6M | $336.7M |
| LiabilitiesLn 26 | $26.9M | $24.9M |
| Net assetsLn 32 | $292.7M | $311.8M |
5Every line
Statement of functional expensesPt IX · every line
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $0 | |||
| Grants to domestic individualsLn 2 | $6.5M | $6.5M | ||
| Grants and assistance to foreign recipientsLn 3 | $0 | |||
| Benefits paid to or for membersLn 4 | $0 | |||
| Pay of current officers, directors and key staffLn 5 | $2.7M | $2.1M | $598K | $0 |
| Pay of disqualified personsLn 6 | $0 | |||
| Other salaries and wagesLn 7 | $23.5M | $21.5M | $880K | $1.1M |
| Pension plan contributionsLn 8 | $2.0M | $1.8M | $98K | $75K |
| Other employee benefitsLn 9 | $3.3M | $3.0M | $166K | $128K |
| Payroll taxesLn 10 | $1.6M | $1.4M | $79K | $61K |
| Management feesLn 11a | $0 | |||
| Legal feesLn 11b | $183K | $183K | ||
| Accounting feesLn 11c | $69K | $69K | ||
| Lobbying feesLn 11d | $51K | $51K | ||
| Professional fundraising feesLn 11e | $98K | $98K | ||
| Investment management feesLn 11f | $150K | $150K | ||
| Other fees for servicesLn 11g | $672K | $544K | $122K | $6K |
| Advertising and promotionLn 12 | $321K | $126K | $10K | $185K |
| Office expensesLn 13 | $1.1M | $950K | $92K | $26K |
| Information technologyLn 14 | $893K | $407K | $439K | $48K |
| RoyaltiesLn 15 | $0 | |||
| OccupancyLn 16 | $1.8M | $1.5M | $302K | $6K |
| TravelLn 17 | $506K | $475K | $18K | $12K |
| Travel and entertainment for public officialsLn 18 | $0 | |||
| Conferences, conventions and meetingsLn 19 | $621K | $467K | $71K | $83K |
| InterestLn 20 | $324K | $259K | $65K | |
| Payments to affiliatesLn 21 | $0 | |||
| Depreciation, depletion and amortizationLn 22 | $4.8M | $3.8M | $955K | |
| InsuranceLn 23 | $392K | $313K | $78K | |
| Other expenses (24a–d)Ln 24 | $1.4M | $1.1M | $312K | $22K |
| Total functional expensesLn 25 | $52.9M | $46.2M | $4.7M | $1.9M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 LatestFiled with the IRS May 1, 2026 | $63.8M | $72.0M | −$8.2M | $342.6M | 990 PDF |
| FY2024Filed with the IRS May 12, 2025 | $63.1M | $69.9M | −$6.8M | $336.1M | 990 PDF |
| FY2023Filed with the IRS Apr 24, 2024 | $58.1M | $68.3M | −$10.2M | $327.7M | 990 PDF |
| FY2022 | $63.1M | $64.1M | −$1.0M | $334.2M | 990 PDF |
| FY2021Filed with the IRS Apr 18, 2022 | $73.0M | $58.8M | $14.2M | $348.3M | 990 PDF |
| FY2020 ViewingFiled with the IRS Apr 21, 2021 | $72.7M | $52.9M | $19.8M | $311.8M | 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 FY2020 990 (6 parts)
Part I · Summary $72,675,705 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,861,372$26,815,489
I-9 Program service revenuePrior year $40,726,481$42,661,632
I-10 Investment incomePrior year $3,278,021$3,215,059
I-11 Other revenuePrior year $79,721−$16,475
I-12 Total revenuePrior year $49,945,595$72,675,705
I-13 Grants and similar amounts paidPrior year $5,824,956$6,501,004
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $31,174,332$33,062,220
I-16a Professional fundraising feesPrior year $79,188$98,239
I-17 Other expensesPrior year $15,460,400$13,188,577
I-18 Total expensesPrior year $52,538,876$52,850,040
I-19 Revenue less expensesPrior year −$2,593,281$19,825,665
Part VI · Governance 28 of 28 board members independent, 1 to look at
VI-1a Voting members of the governing body28
VI-1b Independent voting members28
VI-2 Family or business relationship among officers or directorsYes
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 $72,675,705 across 13 lines filed
VIII-1c Fundraising events$334,240
VIII-1e Government grants$421,728
VIII-1f All other contributions, gifts and grants$26,059,521
VIII-1g Noncash contributions (included above)$1,621,125
VIII-1h Total contributions, gifts and grants$26,815,489
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $42,661,632$42,661,632
VIII-3 Investment incomeExcluded from tax $2,222,377$2,222,377
VIII-5 Royalties$0
VIII-6 Net rental income or lossUnrelated business $46,550$46,550
VIII-7 Net gain or loss on sales of assetsUnrelated business $21,878 · Excluded from tax $970,804$992,682
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business −$63,025−$63,025
VIII-12 Total revenueRelated to mission $42,661,632 · Unrelated business $5,403 · Excluded from tax $3,193,181$72,675,705
Part IX · Statement of functional expenses $52,850,040 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individualsPrograms $6,501,004$6,501,004
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $2,075,931 · Management $598,190 · Fundraising $0$2,674,121
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $21,477,099 · Management $880,453 · Fundraising $1,133,149$23,490,701
IX-8 Pension plan contributionsPrograms $1,792,787 · Management $97,733 · Fundraising $75,101$1,965,621
IX-9 Other employee benefitsPrograms $3,049,691 · Management $166,252 · Fundraising $127,754$3,343,697
IX-10 Payroll taxesPrograms $1,448,442 · Management $78,961 · Fundraising $60,677$1,588,080
IX-11a Management fees$0
IX-11b Legal feesManagement $182,621$182,621
IX-11c Accounting feesManagement $69,000$69,000
IX-11d Lobbying feesManagement $51,000$51,000
IX-11e Professional fundraising feesFundraising $98,239$98,239
IX-11f Investment management feesManagement $149,537$149,537
IX-11g Other fees for servicesPrograms $544,099 · Management $121,779 · Fundraising $6,000$671,878
IX-12 Advertising and promotionPrograms $125,670 · Management $9,983 · Fundraising $185,221$320,874
IX-13 Office expensesPrograms $949,951 · Management $92,468 · Fundraising $26,291$1,068,710
IX-14 Information technologyPrograms $406,856 · Management $438,598 · Fundraising $47,961$893,415
IX-15 Royalties$0
IX-16 OccupancyPrograms $1,459,815 · Management $301,858 · Fundraising $6,447$1,768,120
IX-17 TravelPrograms $475,126 · Management $18,354 · Fundraising $12,405$505,885
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $466,741 · Management $71,454 · Fundraising $83,227$621,422
IX-20 InterestPrograms $258,955 · Management $64,739$323,694
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $3,821,816 · Management $955,454$4,777,270
IX-23 InsurancePrograms $313,244 · Management $78,311$391,555
IX-24 Other expenses (24a–d)Programs $1,059,322 · Management $311,908 · Fundraising $22,366$1,393,596
IX-25 Total functional expensesPrograms $46,226,549 · Management $4,738,653 · Fundraising $1,884,838$52,850,040
Part X · Balance sheet $336,674,392 assets, 24 lines filed
Asset lines not itemized here account for $6,703; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,500$1,500
X-2 Savings and temporary cash investmentsStart of year $41,818,045$18,607,697
X-3 Pledges and grants receivableStart of year $8,511,999$15,405,387
X-4 Accounts receivableStart of year $523,459$1,182,874
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $2,373,595$2,327,227
X-10c Land, buildings and equipment, netStart of year $173,898,989$197,277,062
X-11 Publicly traded securitiesStart of year $68,599,452$73,265,487
X-12 Other securitiesStart of year $23,299,749$28,067,570
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $562,000$532,885
X-16 Total assetsStart of year $319,595,733$336,674,392
X-17 Accounts payable and accrued expensesStart of year $6,163,404$4,070,740
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $9,642,202$10,344,293
X-20 Tax-exempt bond liabilitiesStart of year $11,044,660$10,448,280
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $26,850,266$24,863,313
X-27 Net assets without donor restrictionsStart of year $153,168,004$151,922,144
X-28 Net assets with donor restrictionsStart of year $139,577,463$159,888,935
X-32 Total net assets or fund balancesStart of year $292,745,467$311,811,079
X-33 Total liabilities and net assetsStart of year $319,595,733$336,674,392
Part XI · Reconciliation of net assets $311,811,079 net assets at year end
XI-1 Total revenue$72,675,705
XI-2 Total expenses$52,850,040
XI-3 Revenue less expenses$19,825,665
XI-4 Net assets at start of year$292,745,467
XI-5 Net unrealized gains (losses) on investments−$658,882
XI-9 Other changes in net assets−$101,171
XI-10 Net assets at end of year$311,811,079
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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