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Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2026.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
74 cents of each dollar spent went to programs.
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
44 people listed on the 990; $1.6M paid to officers and key staff.
Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Head of School
$505,592Pt VII · Sec A
Director of Advancement
$273,955Pt VII · Sec A
Chief Financial Officer
$207,767Pt VII · Sec A
Director of Admission
$152,007Pt VII · Sec A
Director of Development
$151,691Pt VII · Sec A
Associate Head of School
$139,744Pt VII · Sec A
Director of the Learning Cente
$130,334Pt VII · Sec A
Trustee
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Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| William Stevenson Hawkey | $544,685 | $505,592 | $467,278 | $448,110 | — | — |
| Dr William S Hawkey | — | — | — | — | $409,214 | $400,090 |
| Charles D Brown | $286,540 | $273,955 | $264,786 | $246,327 | — | — |
| Charlie Brown | — | — | — | — | $234,809 | $216,871 |
| John G McWhirter | — | — | — | $218,042 | — | — |
| J Graeme McWhirter | — | — | — | — | $212,956 | $205,372 |
| Brenda Rene Cole | $117,629 | $207,767 | $91,406 | — | — | — |
| Sharon Jarboe | $162,125 | $152,007 | $129,213 | $113,435 | — | — |
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 middle and high school students, fostering excellence in all.
Questions for The Pennington School
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Provided by the organization
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1 program · $28.8M · in their own filed words · FY2023
01
Coeducational DAY/BOARDING school servicing grades 6 through 12. There are approximately 525 students.
$28.8Mprogram 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 · FY2024
John W Sparks Tr Uw 1538106 01-13-34FY2024$291K
Donor Advised Charitable Giving INCFY2024$264K
Fidelity Investments Charitable Gift FundFY2024$223K
The Page and Otto Marx JR FoundationFY2024$110K
Vanguard Charitable Endowment ProgramFY2024$36K
Charities Aid Foundation AmericaFY2024$29K
American Online Giving Foundation INCFY2024$27K
Total grants receivedfrom 21 funders$1.3M
By the numbers
The FY2024 990, line by line.
Download 990
1The main four
Money inPt VIII
$37.8M
Ln 12
Fees for servicesLn 2g$31.1M
Gifts and grantsLn 1h$3.2M
Investment incomeLn 3$2.8M
Money outPt IX
$38.7M
Ln 25
Programscol B$28.8M
Managementcol C$8.1M
Fundraisingcol D$1.8M
Owns and owesPt X
$72.6M
net assets · Ln 32
Cash and savingsLn 1–2$6.0M
Total assetsLn 16$95.6M
LiabilitiesLn 26$23.0M
PeoplePt VI, VII
44
listed · VII A
PaidVII A7
Voting boardVI 1a38
IndependentVI 1b37
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.2M
Noncash giftsLn 1g$102K
Fundraising eventsLn 1c$9K
Fees for servicesLn 2g$31.1M
Investment incomeLn 3$2.8M
Other incomeLn 4–11$782K
Gains on assetsLn 7$912K
Total revenueLn 12$37.8M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$6.0M
Cash and savings togetherLn 1–2$6.0M
InvestmentsLn 11–13$47.8M
Land, buildings, equipmentLn 10c$38.3M
Other assetsLn 15$541K
Total assetsLn 16$95.6M
LiabilitiesLn 26$23.0M
Net assetsLn 32$72.6M
OperationsPt I, VI
EmployeesI 5316
VolunteersI 6253
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 FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $5.5M | $6.0M |
| InvestmentsLn 11–13 | $44.6M | $47.8M |
| Land, buildings, equipmentLn 10c | $38.2M | $38.3M |
| Total assetsLn 16 | $92.4M | $95.6M |
| LiabilitiesLn 26 | $21.9M | $23.0M |
| Net assetsLn 32 | $70.5M | $72.6M |
4Every line
Statement of functional expensesPt IX · every line
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $10K | $10K | ||
| Grants to domestic individualsLn 2 | $8.4M | $8.4M | ||
| 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 | $818K | $563K | $207K | $48K |
| Pay of disqualified personsLn 6 | $0 | |||
| Other salaries and wagesLn 7 | $13.9M | $9.4M | $3.6M | $833K |
| Pension plan contributionsLn 8 | $886K | $596K | $236K | $54K |
| Other employee benefitsLn 9 | $1.9M | $1.3M | $492K | $114K |
| Payroll taxesLn 10 | $1.1M | $717K | $274K | $63K |
| Management feesLn 11a | $0 | |||
| Legal feesLn 11b | $54K | $36K | $14K | $3K |
| Accounting feesLn 11c | $50K | $34K | $13K | $3K |
| Lobbying feesLn 11d | $0 | |||
| Professional fundraising feesLn 11e | $0 | |||
| Investment management feesLn 11f | $175K | $175K | ||
| Other fees for servicesLn 11g | $2.5M | $2.5M | ||
| Advertising and promotionLn 12 | $31K | $21K | $8K | $2K |
| Office expensesLn 13 | $2.9M | $1.0M | $1.6M | $319K |
| Information technologyLn 14 | $120K | $81K | $32K | $7K |
| RoyaltiesLn 15 | $0 | |||
| OccupancyLn 16 | $2.1M | $1.4M | $571K | $131K |
| TravelLn 17 | $262K | $177K | $69K | $16K |
| Travel and entertainment for public officialsLn 18 | $0 | |||
| Conferences, conventions and meetingsLn 19 | $124K | $83K | $33K | $7K |
| InterestLn 20 | $324K | $324K | ||
| Payments to affiliatesLn 21 | $0 | |||
| Depreciation, depletion and amortizationLn 22 | $2.7M | $1.8M | $711K | $164K |
| InsuranceLn 23 | $353K | $238K | $93K | $21K |
| Total functional expensesLn 25 | $38.7M | $28.8M | $8.1M | $1.8M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $41.9M | $41.1M | $793K | $75.2M | 990 PDF |
| FY2024 Viewing | $37.8M | $38.7M | −$848K | $72.6M | 990 PDF |
| FY2023 | $38.0M | $36.9M | $1.1M | $70.5M | 990 PDF |
| FY2022 | $40.9M | $34.2M | $6.7M | $68.0M | 990 PDF |
| FY2021 | $33.4M | $31.2M | $2.1M | $72.1M | 990 PDF |
| FY2020 | $31.0M | $30.2M | $839K | $61.4M | 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 FY2024 990 (6 parts)
Part I · Summary $37,841,960 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,448,364$3,179,073
I-9 Program service revenuePrior year $29,845,272$31,120,376
I-10 Investment incomePrior year $3,058,126$2,760,843
I-11 Other revenuePrior year $624,117$781,668
I-12 Total revenuePrior year $37,975,879$37,841,960
I-13 Grants and similar amounts paidPrior year $7,883,544$8,386,149
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $17,809,222$18,525,733
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $11,226,922$11,778,211
I-18 Total expensesPrior year $36,919,688$38,690,093
I-19 Revenue less expensesPrior year $1,056,191−$848,133
Part VI · Governance 37 of 38 board members independent, no flags
VI-1a Voting members of the governing body38
VI-1b Independent voting members37
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 $37,841,960 across 12 lines filed
Lines not itemized here account for $60,328 of total revenue; see the IRS return.
VIII-1c Fundraising events$9,089
VIII-1f All other contributions, gifts and grants$3,169,984
VIII-1g Noncash contributions (included above)$101,708
VIII-1h Total contributions, gifts and grants$3,179,073
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $31,120,376$31,120,376
VIII-3 Investment incomeExcluded from tax $1,849,099$1,849,099
VIII-5 Royalties$0
VIII-6 Net rental income or lossUnrelated business $234,919 · Excluded from tax $123,452$358,371
VIII-7 Net gain or loss on sales of assetsExcluded from tax $911,744$911,744
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $357,669 · Unrelated business $5,300$362,969
VIII-12 Total revenueRelated to mission $31,478,045 · Unrelated business $240,219 · Excluded from tax $2,944,623$37,841,960
Part IX · Statement of functional expenses $38,690,093 across 29 lines filed
IX-1 Grants to domestic organizationsPrograms $9,870$9,870
IX-2 Grants to domestic individualsPrograms $8,376,279$8,376,279
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 $563,184 · Management $207,317 · Fundraising $47,843$818,344
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $9,435,604 · Management $3,607,730 · Fundraising $832,553$13,875,887
IX-8 Pension plan contributionsPrograms $595,511 · Management $235,715 · Fundraising $54,396$885,622
IX-9 Other employee benefitsPrograms $1,286,546 · Management $491,914 · Fundraising $113,519$1,891,979
IX-10 Payroll taxesPrograms $716,653 · Management $274,014 · Fundraising $63,234$1,053,901
IX-11a Management fees$0
IX-11b Legal feesPrograms $36,402 · Management $14,273 · Fundraising $3,212$53,887
IX-11c Accounting feesPrograms $33,652 · Management $13,195 · Fundraising $2,969$49,816
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management feesManagement $174,847$174,847
IX-11g Other fees for servicesPrograms $2,503,764$2,503,764
IX-12 Advertising and promotionPrograms $20,686 · Management $8,111 · Fundraising $1,825$30,622
IX-13 Office expensesPrograms $1,043,391 · Management $1,575,141 · Fundraising $319,090$2,937,622
IX-14 Information technologyPrograms $80,878 · Management $31,713 · Fundraising $7,137$119,728
IX-15 Royalties$0
IX-16 OccupancyPrograms $1,424,078 · Management $570,546 · Fundraising $131,494$2,126,118
IX-17 TravelPrograms $177,251 · Management $69,499 · Fundraising $15,639$262,389
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $83,437 · Management $32,715 · Fundraising $7,361$123,513
IX-20 InterestPrograms $324,377$324,377
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $1,844,328 · Management $710,580 · Fundraising $163,980$2,718,888
IX-23 InsurancePrograms $238,217 · Management $93,404 · Fundraising $21,019$352,640
IX-25 Total functional expensesPrograms $28,794,108 · Management $8,110,714 · Fundraising $1,785,271$38,690,093
Part X · Balance sheet $95,641,589 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $5,452,475$5,962,349
X-3 Pledges and grants receivableStart of year $3,153,446$2,499,045
X-4 Accounts receivableStart of year $107,885$194,164
X-8 Inventories for sale or useStart of year $103,332$90,768
X-9 Prepaid expenses and deferred chargesStart of year $464,216$271,887
X-10c Land, buildings and equipment, netStart of year $38,150,779$38,322,239
X-11 Publicly traded securitiesStart of year $44,546,414$47,750,098
X-12 Other securitiesStart of year $10,165$10,165
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $365,718$540,874
X-16 Total assetsStart of year $92,354,430$95,641,589
X-17 Accounts payable and accrued expensesStart of year $2,967,032$3,152,556
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $6,074,263$7,615,970
X-20 Tax-exempt bond liabilitiesStart of year $11,774,852$11,039,725
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $370,161$547,328
X-26 Total liabilitiesStart of year $21,878,042$23,016,311
X-27 Net assets without donor restrictionsStart of year $44,297,022$44,924,810
X-28 Net assets with donor restrictionsStart of year $26,179,366$27,700,468
X-32 Total net assets or fund balancesStart of year $70,476,388$72,625,278
X-33 Total liabilities and net assetsStart of year $92,354,430$95,641,589
Part XI · Reconciliation of net assets $72,625,278 net assets at year end
XI-1 Total revenue$37,841,960
XI-2 Total expenses$38,690,093
XI-3 Revenue less expenses−$848,133
XI-4 Net assets at start of year$70,476,388
XI-5 Net unrealized gains (losses) on investments$3,017,780
XI-9 Other changes in net assets−$20,757
XI-10 Net assets at end of year$72,625,278
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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