Form 990 for the fiscal year ending December 2024 (IRS tax year 2024).
Educates students in grades 6-12 for college success.
- Founded
- 1939
- Type
- Public charity (501(c)(3)) · Education
- Location
- Morristown, NJ
- Website
- www.mbs.net
- Filings
- 4 on file (2021–2024)
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Summary of the Filing
Identity & Classification
Governance & Policies
Officers, Directors & Key Employees
Elizabeth Morrison’s $500K as Head of School Thru June 2025 is at the 89th 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 | FY2024 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Elizabeth Morrison | $500,064 | $485,595 | $468,724 | $230,088 | — |
| Peter Caldwell | — | — | — | — | $443,247 |
| Peter Caldwell | — | $270,000 | $270,000 | $332,700 | — |
| Elizabeth Patterson | $236,847 | $227,581 | $218,265 | $217,488 | — |
| Elizabeth Patterson | — | — | — | — | $207,971 |
| Darren Burns | — | — | $131,739 | $206,311 | — |
| Philicia Levinson | — | $177,234 | $201,872 | $195,061 | — |
| Boni Luna | $197,660 | $188,936 | $181,503 | $184,884 | — |
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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Where the work happens
Morristown beard school is an independent, coeducational day school serving students from more than 85 communities and nine counties in northern new jersey. There are 600 students in grades 6-12, with an upper school enrollment of 460 and middle school of 140.
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Statement of Revenue
Statement of Functional Expenses
Balance Sheet
Financial Metrics
Same NTEE category, revenue band, and state where available. Descriptive — not a grade.
| Metric | This org | Peer median | Percentile |
|---|---|---|---|
| Program ratio | 75% | — | — |
| Overhead ratio | 21% | — | — |
| Fundraising cost ratio | 22% | — | — |
| Revenue growth | 19% | — | — |
Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.
Grants
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Filings & Schedule Manifest
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Sources
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