Horace Mann School FY2023 filing

Tax-deductible

Bronx, NY501(c)(3)Since 1887EducationEIN 13-1740455

Horace mann school prepares a diverse community of students to lead great and giving lives. We strive to maintain a safe, secure, and caring environment in which mutual respect, mature behavior, and the life of the mind can thrive. We recognize and celebrate individual achievement and contributions to the common good.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$5.5M 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

FY2023 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $15.8M a year · 12% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$5.5M
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
4 mo
of spending, in cash
Looks good: 3.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
14
named funders · $4.6M
Looks good: 14 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$145.2M
31% of total assets
Looks good: liabilities are 31% of assets; 50% or less.
Pt X · Ln 26
Independent board members
32
of 32 voting members
Looks good: 32 of 32 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$134.4M
+1% vs prior year
Spent
$117.5M
To programs
88%
Net assets
$327.1M
By yearFY2020–FY2024
Revenue
$134.4M
FY2023▲ +1%
Revenue by fiscal year
FY2020$114.8M
FY2021$137.2M
FY2022$133.0M
FY2023$134.4M
FY2024$144.9M
FY2024$146.4M
Expenses
$117.5M
FY2023-0.2%
Expenses by fiscal year
FY2020$109.6M
FY2021$116.0M
FY2022$117.7M
FY2023$117.5M
FY2024$124.6M
FY2024$130.9M
Net assets
$327.1M
FY2023▲ +13%
Net assets by fiscal year
FY2020$247.1M
FY2021$279.5M
FY2022$289.6M
FY2023$327.1M
FY2024$368.1M
FY2024$407.9M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1949.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $103.6M Management & general 10% · $11.2M Fundraising 2% · $2.7M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

44 people listed on the 990; $5.5M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Head of School
$1,589,684Pt VII · Sec A
Exec Dir. College Counseling
$502,000Pt VII · Sec A
CFO (through 1/16/22)
$402,341Pt VII · Sec A
Director of Technology
$397,844Pt VII · Sec A
Dir. of Alumni/Development
$391,059Pt VII · Sec A
Director of Facilities
$364,634Pt VII · Sec A
Head of Upper Division
$359,302Pt VII · Sec A
Dir. Inst. Research/Enrollment
$345,387Pt VII · Sec A

Thomas M Kelly’s $1.9M as Head of School is at the 89th percentile of top reported officer pay among 674 $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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Thomas Kelly—$2,805,522$1,589,684$1,827,447$1,428,491$1,078,474
Thomas M Kelly$1,876,426—————
Edward L Sinclair JR————$638,168$526,788
Edward L Sinclair——$402,341$628,344——
Canh Oxelson$529,526$455,613$502,000$481,226$390,404$358,901
Glenn S Sherratt———$460,803——
Gordon a Jensen$358,074$357,062$364,634$431,218——
Jessica Levenstein Davis$411,542$394,079$359,302$348,666——

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 Horace Mann School executive salaries →

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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 continuous education for diverse youth from nursery through high school.

Provided by the organization

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1 program service account for $103.6M of program spending, described in the organization's own filed words · FY2022.
01

Horace mann school is an educational institution conducting program at the nursery, lower, middle, and high school levels. During the 2022-2023 school year, the student body consisted of 1,801 students.

$103.6Mprogram expense

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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 · FY2024
See all 14 funders →
Grants paid · 27 grants · $79.9M · 2019–2024
Unitemized GrantFY2024$15,034,957
Unitemized GrantFY2024$856,705
Prep for PrepNY · FY2024$25,000
American Jewish CommitteeNY · FY2024$20,000
Msk GivingNY · FY2024$10,000
Summer Steps at the Brick Church SchoolFY2024$6,000
Music for Life InstituteWA · FY2024$5,000
Unitemized GrantFY2023$15,113,592
American Jewish CommitteeNY · FY2023$35,000
Hilltop Cares FoundationNY · FY2023$35,000
Prep for PrepNY · FY2023$15,000
George Jackson AcademyNY · FY2023$10,000
See all 27 grants →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$134.4M
Ln 12
Fees for servicesLn 2g$112.5M
Gifts and grantsLn 1h$17.5M
Investment incomeLn 3$4.0M
Money outPt IX
$117.5M
Ln 25
Programscol B$103.6M
Managementcol C$11.2M
Fundraisingcol D$2.7M
Owns and owesPt X
$327.1M
net assets · Ln 32
Cash and savingsLn 1–2$38.5M
Total assetsLn 16$472.3M
LiabilitiesLn 26$145.2M
PeoplePt VI, VII
44
listed · VII A
PaidVII A12
Voting boardVI 1a32
IndependentVI 1b32
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$17.5M
Government grantsLn 1e$1.7M
Noncash giftsLn 1g$1.4M
Fundraising eventsLn 1c$1.4M
Fees for servicesLn 2g$112.5M
Investment incomeLn 3$4.0M
Other incomeLn 4–11$414K
Gains on assetsLn 7−$85K
Total revenueLn 12$134.4M
Assets in detailPt X, end of year
CashLn 1$3.1M
SavingsLn 2$35.4M
Cash and savings togetherLn 1–2$38.5M
InvestmentsLn 11–13$230.0M
Land, buildings, equipmentLn 10c$184.4M
Other assetsLn 15$2.3M
Total assetsLn 16$472.3M
LiabilitiesLn 26$145.2M
Net assetsLn 32$327.1M
OperationsPt I, VI
EmployeesI 5597
VolunteersI 6850
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
LineStart FY23End FY23
Cash and savingsLn 1–2$65.3M$38.5M
InvestmentsLn 11–13$178.1M$230.0M
Land, buildings, equipmentLn 10c$189.4M$184.4M
Total assetsLn 16$451.8M$472.3M
LiabilitiesLn 26$162.2M$145.2M
Net assetsLn 32$289.6M$327.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$233K$233K
Grants to domestic individualsLn 2$12.2M$12.2M
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$3.9M$3.0M$765K$91K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$50.1M$46.1M$2.9M$1.1M
Pension plan contributionsLn 8$4.1M$3.8M$199K$82K
Other employee benefitsLn 9$7.5M$6.9M$464K$169K
Payroll taxesLn 10$3.6M$3.3M$236K$78K
Management feesLn 11a$0
Legal feesLn 11b$953K$953K
Accounting feesLn 11c$101K$101K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$126K$126K
Other fees for servicesLn 11g$3.4M$2.6M$736K$72K
Advertising and promotionLn 12$0
Office expensesLn 13$2.7M$1.9M$588K$141K
Information technologyLn 14$1.2M$854K$305K$61K
RoyaltiesLn 15$0
OccupancyLn 16$4.2M$3.8M$380K$42K
TravelLn 17$599K$560K$38K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$719K$591K$35K$94K
InterestLn 20$1.7M$1.7M
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$10.4M$9.3M$932K$104K
InsuranceLn 23$971K$971K
Other expenses (24a–d)Ln 24$8.9M$6.7M$1.5M$658K
Total functional expensesLn 25$117.5M$103.6M$11.2M$2.7M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $144.9M$124.6M$20.3M$368.1M 990 PDF
FY2023 Viewing $134.4M$117.5M$16.9M$327.1M 990 PDF
FY2022 $133.0M$117.7M$15.2M$289.6M 990 PDF
FY2021 $137.2M$116.0M$21.3M$279.5M 990 PDF
FY2020 $114.8M$109.6M$5.2M$247.1M 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $134,391,895 across 13 lines filed
VIII-1c Fundraising events$1,429,285
VIII-1e Government grants$1,709,866
VIII-1f All other contributions, gifts and grants$14,393,373
VIII-1g Noncash contributions (included above)$1,357,291
VIII-1h Total contributions, gifts and grants$17,532,524
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $112,491,608$112,491,608
VIII-3 Investment incomeUnrelated business $37,978 · Excluded from tax $4,001,416$4,039,394
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$85,353−$85,353
VIII-8 Net income from fundraising eventsExcluded from tax −$212,620−$212,620
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $626,342$626,342
VIII-12 Total revenueRelated to mission $112,491,608 · Unrelated business $37,978 · Excluded from tax $4,329,785$134,391,895
Part IX · Statement of functional expenses $117,456,606 across 30 lines filed
IX-1 Grants to domestic organizationsPrograms $232,800$232,800
IX-2 Grants to domestic individualsPrograms $12,193,533$12,193,533
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 $3,038,352 · Management $765,221 · Fundraising $91,103$3,894,676
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $46,111,345 · Management $2,862,145 · Fundraising $1,079,402$50,052,892
IX-8 Pension plan contributionsPrograms $3,817,987 · Management $198,567 · Fundraising $81,889$4,098,443
IX-9 Other employee benefitsPrograms $6,852,178 · Management $463,764 · Fundraising $169,249$7,485,191
IX-10 Payroll taxesPrograms $3,284,518 · Management $235,534 · Fundraising $78,057$3,598,109
IX-11a Management fees$0
IX-11b Legal feesManagement $953,012$953,012
IX-11c Accounting feesManagement $100,538$100,538
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management feesManagement $126,267$126,267
IX-11g Other fees for servicesPrograms $2,629,228 · Management $735,691 · Fundraising $71,893$3,436,812
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $1,922,310 · Management $588,053 · Fundraising $141,203$2,651,566
IX-14 Information technologyPrograms $853,684 · Management $304,890 · Fundraising $60,979$1,219,553
IX-15 Royalties$0
IX-16 OccupancyPrograms $3,798,874 · Management $379,887 · Fundraising $42,210$4,220,971
IX-17 TravelPrograms $560,287 · Management $38,217$598,504
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $591,177 · Management $34,564 · Fundraising $93,595$719,336
IX-20 InterestPrograms $1,700,057$1,700,057
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $9,315,403 · Management $931,540 · Fundraising $103,505$10,350,448
IX-23 InsuranceManagement $970,808$970,808
IX-24 Other expenses (24a–d)Programs $6,712,415 · Management $1,483,171 · Fundraising $657,504$8,853,090
IX-25 Total functional expensesPrograms $103,614,148 · Management $11,171,869 · Fundraising $2,670,589$117,456,606
Part X · Balance sheet $472,300,215 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $33,776,181$3,056,085
X-2 Savings and temporary cash investmentsStart of year $31,572,755$35,422,303
X-3 Pledges and grants receivableStart of year $17,023,317$15,858,181
X-4 Accounts receivableStart of year $44,859$48,634
X-8 Inventories for sale or useStart of year $76,700$102,204
X-9 Prepaid expenses and deferred chargesStart of year $416,720$1,128,163
X-10c Land, buildings and equipment, netStart of year $189,377,485$184,429,654
X-11 Publicly traded securitiesStart of year $119,518,360$161,159,801
X-12 Other securitiesStart of year $58,541,299$68,829,517
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $1,408,200$2,265,673
X-16 Total assetsStart of year $451,755,876$472,300,215
X-17 Accounts payable and accrued expensesStart of year $8,406,598$7,550,050
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $65,049,433$62,734,540
X-20 Tax-exempt bond liabilitiesStart of year $18,727,770$16,446,018
X-24 Unsecured notes and loans payableStart of year $40,493,129$30,711,264
X-25 Other liabilitiesStart of year $29,490,668$27,774,940
X-26 Total liabilitiesStart of year $162,167,598$145,216,812
X-27 Net assets without donor restrictionsStart of year $246,089,205$275,828,741
X-28 Net assets with donor restrictionsStart of year $43,499,073$51,254,662
X-32 Total net assets or fund balancesStart of year $289,588,278$327,083,403
X-33 Total liabilities and net assetsStart of year $451,755,876$472,300,215
Part XI · Reconciliation of net assets $327,083,403 net assets at year end
XI-1 Total revenue$134,391,895
XI-2 Total expenses$117,456,606
XI-3 Revenue less expenses$16,935,289
XI-4 Net assets at start of year$289,588,278
XI-5 Net unrealized gains (losses) on investments$19,499,220
XI-9 Other changes in net assets$1,060,616
XI-10 Net assets at end of year$327,083,403

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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