Blair Academy: FY2024 Nonprofit Profile & Form 990 (EIN 22-1500475)

Revenue by fiscal year
FY2021	$43.6M
FY2022	$54.3M
FY2023	$49.0M
FY2024	$55.5M
FY2025	$55.5M

Expenses by fiscal year
FY2021	$38.8M
FY2022	$39.1M
FY2023	$42.2M
FY2024	$44.4M
FY2025	$47.4M

Net assets by fiscal year
FY2021	$228.1M
FY2022	$225.5M
FY2023	$236.8M
FY2024	$262.6M
FY2025	$280.0M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1929.

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

Where the money goes

82 cents of each dollar spent went to programs.

82%

Program services 82% · $36.4M Management & general 9% · $4.0M Fundraising 9% · $4.1M

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

36 people listed on the 990; $1.8M 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

James a Frick

Asst. Treasurer and Asst.

$418,705Pt VII · Sec A

Peter Curran

Head of School

$390,000Pt VII · Sec A

Craig Hall

Advancement

$356,963Pt VII · Sec A

Ryan Pagotto

Administration

$207,956Pt VII · Sec A

Nicole Johnson

College Counsel

$161,500Pt VII · Sec A

Cara Mohlmann

Advancement

$157,514Pt VII · Sec A

David Schmitt

Staff

$148,875Pt VII · Sec A

Elise Bates Russell

Trustee

$0Pt VII · Sec A

Peter Curran’s $535K as Head of School is at the 91st 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
Peter Curran	$535,000	$390,000	$370,000	$335,000	$195,000
Christopher Fortunato	—	—	—	$202,500	$521,508
James a Frick	$405,507	$418,705	$364,140	$345,000	$333,000
Craig Hall	$328,801	$356,963	$305,580	$290,000	$281,000
Ryan Pagotto	$216,130	$207,956	$199,000	$184,000	$173,000
Edward Wenner	$163,500	—	$142,063	—	—
Nicole Johnson	$162,360	$161,500	—	$137,363	—
Cara Mohlmann	$162,359	$157,514	$151,491	$144,278	$142,960

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 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates talented, diverse students for college and responsible, service-oriented lives.

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Provided by the organization

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1 program · $36.4M · in their own filed words · FY2023

01

Blair academy serves 465 students from 29 countries and 26 different states. Blair offers a rich and challenging curriculum, world class programs for athletes and artists of all abilities and an array of meaningful leadership, travel, and service opportunities.

$36.4Mprogram 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

Robert McEldowney JR Family FoundationFY2025$2K

Total grants receivedfrom 1 funder$2K

Grants paid · 5 grants · $35.8M · 2020–2024

Unitemized GrantFY2024$8,047,846

Unitemized GrantFY2023$7,582,674

Unitemized GrantFY2022$6,828,648

Unitemized GrantFY2021$6,626,983

Unitemized GrantFY2020$6,697,065

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$55.5M

Ln 12

Fees for servicesLn 2g$33.9M

Gifts and grantsLn 1h$16.3M

Investment incomeLn 3$5.0M

Money outPt IX

$44.4M

Ln 25

Programscol B$36.4M

Managementcol C$4.0M

Fundraisingcol D$4.1M

Owns and owesPt X

$262.6M

net assets · Ln 32

Cash and savingsLn 1–2$11.5M

Total assetsLn 16$292.5M

LiabilitiesLn 26$29.9M

PeoplePt VI, VII

36

listed · VII A

PaidVII A7

Voting boardVI 1a30

IndependentVI 1b29

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$16.3M

Noncash giftsLn 1g$1.2M

Fees for servicesLn 2g$33.9M

Investment incomeLn 3$5.0M

Other incomeLn 4–11$319K

Gains on assetsLn 7$1.4M

Total revenueLn 12$55.5M

Assets in detailPt X, end of year

CashLn 1$2.9M

SavingsLn 2$8.6M

Cash and savings togetherLn 1–2$11.5M

InvestmentsLn 11–13$167.9M

Land, buildings, equipmentLn 10c$90.6M

Other assetsLn 15$3.2M

Total assetsLn 16$292.5M

LiabilitiesLn 26$29.9M

Net assetsLn 32$262.6M

OperationsPt I, VI

EmployeesI 5242

VolunteersI 627

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	$7.2M	$11.5M
InvestmentsLn 11–13	$149.5M	$167.9M
Land, buildings, equipmentLn 10c	$90.6M	$90.6M
Total assetsLn 16	$266.0M	$292.5M
LiabilitiesLn 26	$29.2M	$29.9M
Net assetsLn 32	$236.8M	$262.6M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$7.6M	$7.6M
Pay of current officers, directors and key staffLn 5	$1.1M		$1.1M
Other salaries and wagesLn 7	$12.9M	$10.5M	$1.4M	$1.1M
Pension plan contributionsLn 8	$1.0M	$775K	$161K	$74K
Other employee benefitsLn 9	$4.2M	$3.2M	$765K	$301K
Payroll taxesLn 10	$962K	$733K	$154K	$74K
Legal feesLn 11b	$253K	$253K
Accounting feesLn 11c	$44K	$44K
Office expensesLn 13	$4.4M	$3.1M	$51K	$1.3M
OccupancyLn 16	$2.8M	$2.8M
TravelLn 17	$350K		$160K	$190K
InterestLn 20	$354K	$354K
Depreciation, depletion and amortizationLn 22	$3.9M	$3.9M
InsuranceLn 23	$617K	$617K
Other expenses (24a–d)Ln 24	$2.9M	$2.6M		$297K
All other expensesLn 24e	$1.0M	$14K	$262K	$770K
Total functional expensesLn 25	$44.4M	$36.4M	$4.0M	$4.1M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$55.5M	$47.4M	$8.1M	$280.0M	990 PDF
FY2024 Viewing	$55.5M	$44.4M	$11.1M	$262.6M	990 PDF
FY2023	$49.0M	$42.2M	$6.9M	$236.8M	990 PDF
FY2022	$54.3M	$39.1M	$15.3M	$225.5M	990 PDF
FY2021	$43.6M	$38.8M	$4.8M	$228.1M	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 FY2024 990 (6 parts)

Part I · Summary $55,511,996 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $10,057,397$16,297,996

I-9 Program service revenuePrior year $32,928,480$33,914,799

I-10 Investment incomePrior year $5,727,503$4,980,490

I-11 Other revenuePrior year $323,808$318,711

I-12 Total revenuePrior year $49,037,188$55,511,996

I-13 Grants and similar amounts paidPrior year $6,828,648$7,582,674

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $19,290,376$20,194,072

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $16,047,612$16,655,921

I-18 Total expensesPrior year $42,166,636$44,432,667

I-19 Revenue less expensesPrior year $6,870,552$11,079,329

Part VI · Governance 29 of 30 board members independent, 1 to look at

VI-1a Voting members of the governing body30

VI-1b Independent voting members29

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 $55,511,996 across 9 lines filed

Lines not itemized here account for −$3,601 of total revenue; see the IRS return.

VIII-1f All other contributions, gifts and grants$16,297,996

VIII-1g Noncash contributions (included above)$1,189,966

VIII-1h Total contributions, gifts and grants$16,297,996

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $33,914,799$33,914,799

VIII-3 Investment incomeUnrelated business −$157,088 · Excluded from tax $3,774,862$3,617,774

VIII-6 Net rental income or lossUnrelated business $85,440$85,440

VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,362,716$1,362,716

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $236,872$236,872

VIII-12 Total revenueRelated to mission $33,911,198 · Unrelated business $165,224 · Excluded from tax $5,137,578$55,511,996

Part IX · Statement of functional expenses $44,432,667 across 16 lines filed

IX-2 Grants to domestic individualsPrograms $7,582,674$7,582,674

IX-5 Pay of current officers, directors and key staffManagement $1,089,552$1,089,552

IX-7 Other salaries and wagesPrograms $10,464,169 · Management $1,378,993 · Fundraising $1,056,357$12,899,519

IX-8 Pension plan contributionsPrograms $774,785 · Management $161,276 · Fundraising $73,702$1,009,763

IX-9 Other employee benefitsPrograms $3,166,882 · Management $765,240 · Fundraising $301,253$4,233,375

IX-10 Payroll taxesPrograms $733,440 · Management $154,383 · Fundraising $74,040$961,863

IX-11b Legal feesPrograms $253,282$253,282

IX-11c Accounting feesPrograms $43,500$43,500

IX-13 Office expensesPrograms $3,079,388 · Management $51,116 · Fundraising $1,288,087$4,418,591

IX-16 OccupancyPrograms $2,823,924$2,823,924

IX-17 TravelManagement $160,191 · Fundraising $189,790$349,981

IX-20 InterestPrograms $353,550$353,550

IX-22 Depreciation, depletion and amortizationPrograms $3,893,167$3,893,167

IX-23 InsurancePrograms $617,320$617,320

IX-24 Other expenses (24a–d)Programs $2,558,662 · Fundraising $297,400$2,856,062

IX-24e All other expensesPrograms $14,290 · Management $262,355 · Fundraising $769,899$1,046,544

IX-25 Total functional expensesPrograms $36,359,033 · Management $4,023,106 · Fundraising $4,050,528$44,432,667

Part X · Balance sheet $292,507,736 assets, 20 lines filed

X-1 Cash, non-interest-bearingStart of year $3,246,674$2,908,456

X-2 Savings and temporary cash investmentsStart of year $3,958,014$8,550,306

X-3 Pledges and grants receivableStart of year $14,515,433$17,826,604

X-4 Accounts receivableStart of year $53,994$3,303

X-8 Inventories for sale or useStart of year $201,250$174,442

X-9 Prepaid expenses and deferred chargesStart of year $938,444$1,327,295

X-10c Land, buildings and equipment, netStart of year $90,645,158$90,619,867

X-11 Publicly traded securitiesStart of year $97,392,290$114,173,498

X-12 Other securitiesStart of year $52,089,674$53,770,980

X-15 Other assetsStart of year $2,916,571$3,152,985

X-16 Total assetsStart of year $265,957,502$292,507,736

X-17 Accounts payable and accrued expensesStart of year $1,365,780$2,320,875

X-19 Deferred revenueStart of year $5,060,457$5,654,954

X-24 Unsecured notes and loans payableStart of year $22,492,389$21,677,874

X-25 Other liabilitiesStart of year $231,480$223,963

X-26 Total liabilitiesStart of year $29,150,106$29,877,666

X-27 Net assets without donor restrictionsStart of year $125,697,111$133,021,413

X-28 Net assets with donor restrictionsStart of year $111,110,285$129,608,657

X-32 Total net assets or fund balancesStart of year $236,807,396$262,630,070

X-33 Total liabilities and net assetsStart of year $265,957,502$292,507,736

Part XI · Reconciliation of net assets $262,630,070 net assets at year end

XI-1 Total revenue$55,511,996

XI-2 Total expenses$44,432,667

XI-3 Revenue less expenses$11,079,329

XI-4 Net assets at start of year$236,807,396

XI-5 Net unrealized gains (losses) on investments$14,506,931

XI-9 Other changes in net assets$236,414

XI-10 Net assets at end of year$262,630,070

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Blair Academy FY2024 filing

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