The School is an independent, college preparatory School (k through 12) for boys and girls.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
$2.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2022 · Form 990-TIndependent: 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-T
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 $10.6M a year · 16% 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
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.1M
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Plus $124.2M in investments, Pt X · Ln 11–13
Fine: 2.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $162K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$28.9M
11% of total assets
Looks good: liabilities are 11% of assets; 50% or less.
Pt X · Ln 26
Independent board members
24
of 24 voting members
Looks good: 24 of 24 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$63.8M
-9% vs prior year
Spent
$53.0M
To programs
87%
Net assets
$240.4M
By yearFY2020–FY2025
Revenue
$63.8M
FY2022▼ -9%
Tap a bar for its year
Revenue by fiscal year
FY2020$66.4M
FY2021$70.1M
FY2022$63.8M
FY2023$58.2M
FY2024$62.5M
FY2025$71.2M
Expenses
$53.0M
FY2022▲ +0.8%
Tap a bar for its year
Expenses by fiscal year
FY2020$48.2M
FY2021$52.6M
FY2022$53.0M
FY2023$55.1M
FY2024$57.6M
FY2025$62.0M
Net assets
$240.4M
FY2022▼ -1%
Tap a bar for its year
Net assets by fiscal year
FY2020$214.2M
FY2021$243.9M
FY2022$240.4M
FY2023$248.0M
FY2024$262.0M
FY2025$278.6M

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 Dec 1941.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $45.9M Management & general 10% · $5.3M Fundraising 3% · $1.9M

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

32 people listed on the 990-T; $2.1M 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
Director of Finance (thru 6/30/22)
$573,019Pt VII · Sec A
Head of School
$417,306Pt VII · Sec A
Director of Advancement
$222,009Pt VII · Sec A
Director of Development
$213,535Pt VII · Sec A
Director of Upper School
$188,025Pt VII · Sec A
Assistant Head of School
$173,858Pt VII · Sec A
Director of Lower School
$170,882Pt VII · Sec A
Associate Head of School
$169,414Pt VII · Sec A

Charles Franklin’s $573K as Head of School is at the 81st percentile of top reported officer pay among 2901 $10–100M health care 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
Charles Franklin$573,265$280,175————
Peter McAndrew——$259,755$573,019$355,477$344,695
Michael Wirtz$457,752$432,602$439,907$417,306$393,822$368,925
Erin Bernstein$297,428$282,213$147,492———
John P Gannon$246,313$225,403$216,549$213,535$206,398$200,981
Teresa Weber—$199,218$229,149$222,009$213,813$208,033
Philip J Variano———$169,414$214,278$216,128
Andrew M King$205,331$193,878$192,075$188,025$183,653$176,441

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

Educates boys and girls in a college preparatory curriculum from kindergarten through twelfth grade.

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Provided by the organization

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2 programs · $45.9M · in their own filed words · FY2021
01

Instruction and Related Costs

Includes all costs associated with instruction of 855 students. The school offers financial aid grants to qualified students based on demonstrated need.

$45.7Mprogram expense
02

Auxiliary activities includes services indirectly related to instruction such as student activities expenses, music institute, drivers education, etc., as well as summer programs and facilities rental activities.

$259Kprogram 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
Total grants receivedfrom 2 funders$162K
Grants paid · 4 grants · $31.9M · 2020–2023
Unitemized GrantFY2023$8,467,927
Unitemized GrantFY2022$7,961,579
Unitemized GrantFY2021$7,890,641
Unitemized GrantFY2020$7,614,044

By the numbers

The FY2022 990-T, line by line.

1The main four
Money in
$63.8M
Fees for services$42.4M
Gifts and grants$17.6M
Investment income$3.3M
Money out
$53.0M
Programs$45.9M
Management$5.3M
Fundraising$1.9M
Owns and owes
$240.4M
net assets
Cash and savings$8.7M
Total assets$269.3M
Liabilities$28.9M
People
32
listed
Paid8
Voting board24
Independent24
2In more detail
Revenue in detail
Gifts and grants$17.6M
Government grants$523K
Fees for services$42.4M
Investment income$3.3M
Other income$577K
Total revenue$63.8M
Assets in detailEnd of year
Cash and savings together$8.7M
Total assets$269.3M
Liabilities$28.9M
Net assets$240.4M
Operations
Employees340
Volunteers20
Fiscal year endsJune
Conflict-of-interest policyYes
Whistleblower policyYes
Records policyYes

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $71.2M$62.0M$9.3M$278.6M 990 PDF
FY2024 $62.5M$57.6M$4.9M$262.0M 990 PDF
FY2023 $58.2M$55.1M$3.1M$248.0M 990 PDF
FY2022 Viewing $63.8M$53.0M$10.8M$240.4M 990 PDF
FY2021 $70.1M$52.6M$17.5M$243.9M 990 PDF
FY2020 $66.4M$48.2M$18.2M$214.2M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons

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

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