The Baldwin School, an independent college preparatory School, develops talented girls into confident young women with vision, global understanding and the competency to make significant and enduring contributions to the world. The School nurtures our students' passion for intellectual rigor in academics, creativity in the arts and competition in athletics, forming women capable of leading their generation while living balanced lives.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
Run by 341 volunteers and 237 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $4.6M a year · 16% 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
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.4M
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
6 mo
of spending, in cash
Plus $44.9M in investments, Pt X · Ln 11–13
Looks good: 6.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$17.1M
20% of total assets
Looks good: liabilities are 20% of assets; 50% or less.
Pt X · Ln 26
Independent board members
27
of 30 voting members
Looks good: 27 of 30 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$29.1M
+10% vs prior year
Spent
$27.5M
To programs
81%
Net assets
$70.6M
By yearFY2021–FY2025
Revenue
$29.1M
FY2025▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2021$35.1M
FY2022$29.4M
FY2023$27.9M
FY2024$26.5M
FY2025$29.1M
Expenses
$27.5M
FY2025▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2021$23.1M
FY2022$23.1M
FY2023$24.9M
FY2024$26.2M
FY2025$27.5M
Net assets
$70.6M
FY2025▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2021$52.1M
FY2022$55.4M
FY2023$61.4M
FY2024$65.3M
FY2025$70.6M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1922.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $22.2M Management & general 14% · $4.0M Fundraising 5% · $1.3M

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; $1.4M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Head of School
$472,337Pt VII · Sec A
Chief Development of
$167,969Pt VII · Sec A
Director of Squash
$159,800Pt VII · Sec A
Chief Enrollment Off
$159,524Pt VII · Sec A
Dir of Middle School
$152,452Pt VII · Sec A
Ls Director
$141,132Pt VII · Sec A
Chief Financial Off
$103,434Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Lynne Macziewski’s $472K as Head of School is at the 86th 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

NameFY2025FY2024FY2023FY2022FY2021
Marisa Porges—$430,096$555,004$530,074$488,458
Lynne Macziewski$472,337$196,124———
Laura Armstrong$167,969$170,961$153,081$153,014$135,290
Madeline Perry$159,800$155,750$148,062$136,984—
Dianna Collins$159,524$154,610$147,548$145,516$107,926
Christopher Dwyer—$153,889$141,578$147,441$122,675
Shauna Carter$152,452$150,692$141,329$139,734—
Quenby Frimet$141,132$135,566$139,153—$127,946

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 girls to become confident, visionary leaders with global understanding and balanced lives.

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Provided by the organization

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1 program · $22.2M · in their own filed words · FY2024
01

Private school education to girls in grades pre-k through 12.

$22.2Mprogram 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 · FY2025
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$29.1M
Ln 12
Fees for servicesLn 2g$21.7M
Gifts and grantsLn 1h$5.1M
Investment incomeLn 3$1.1M
Money outPt IX
$27.5M
Ln 25
Programscol B$22.2M
Managementcol C$4.0M
Fundraisingcol D$1.3M
Owns and owesPt X
$70.6M
net assets · Ln 32
Cash and savingsLn 1–2$13.7M
Total assetsLn 16$87.7M
LiabilitiesLn 26$17.1M
PeoplePt VI, VII
36
listed · VII A
PaidVII A7
Voting boardVI 1a30
IndependentVI 1b27
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.1M
Noncash giftsLn 1g$631K
Fees for servicesLn 2g$21.7M
Investment incomeLn 3$1.1M
Other incomeLn 4–11$1.1M
Total revenueLn 12$29.1M
Assets in detailPt X, end of year
SavingsLn 2$13.7M
Cash and savings togetherLn 1–2$13.7M
InvestmentsLn 11–13$44.9M
Land, buildings, equipmentLn 10c$25.8M
Other assetsLn 15$554K
Total assetsLn 16$87.7M
LiabilitiesLn 26$17.1M
Net assetsLn 32$70.6M
OperationsPt I, VI
EmployeesI 5237
VolunteersI 6341
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 FY25End FY25
Cash and savingsLn 1–2$14.8M$13.7M
InvestmentsLn 11–13$41.0M$44.9M
Land, buildings, equipmentLn 10c$26.1M$25.8M
Total assetsLn 16$83.7M$87.7M
LiabilitiesLn 26$18.4M$17.1M
Net assetsLn 32$65.3M$70.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$3.4M$3.4M
Pay of current officers, directors and key staffLn 5$723K$124K$476K$124K
Other salaries and wagesLn 7$12.4M$10.5M$1.3M$587K
Pension plan contributionsLn 8$536K$435K$72K$29K
Other employee benefitsLn 9$1.8M$1.4M$235K$95K
Payroll taxesLn 10$975K$768K$156K$50K
Legal feesLn 11b$30K$30K
Accounting feesLn 11c$30K$30K
Other fees for servicesLn 11g$140K$140K
Advertising and promotionLn 12$255K$222K$26K$6K
Information technologyLn 14$234K$204K$24K$6K
Conferences, conventions and meetingsLn 19$192K$73K$85K$33K
InterestLn 20$460K$460K
Depreciation, depletion and amortizationLn 22$1.7M$1.5M$171K$43K
InsuranceLn 23$269K$235K$27K$7K
Other expenses (24a–d)Ln 24$3.4M$2.7M$542K$214K
All other expensesLn 24e$882K$610K$139K$132K
Total functional expensesLn 25$27.5M$22.2M$4.0M$1.3M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $29.1M$27.5M$1.6M$70.6M 990 PDF
FY2024 $26.5M$26.2M$260K$65.3M 990 PDF
FY2023 $27.9M$24.9M$2.9M$61.4M 990 PDF
FY2022 $29.4M$23.1M$6.3M$55.4M 990 PDF
FY2021 $35.1M$23.1M$12.0M$52.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $29,063,713 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,256,711$5,130,337
I-9 Program service revenuePrior year $21,224,707$21,695,203
I-10 Investment incomePrior year $1,162,776$1,139,575
I-11 Other revenuePrior year $831,693$1,098,598
I-12 Total revenuePrior year $26,475,887$29,063,713
I-13 Grants and similar amounts paidPrior year $3,232,615$3,447,209
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $15,243,501$16,422,768
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $7,740,114$7,605,670
I-18 Total expensesPrior year $26,216,230$27,475,647
I-19 Revenue less expensesPrior year $259,657$1,588,066
Part VI · Governance 27 of 30 board members independent, no flags
VI-1a Voting members of the governing body30
VI-1b Independent voting members27
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 $29,063,713 across 9 lines filed
VIII-1f All other contributions, gifts and grants$5,130,337
VIII-1g Noncash contributions (included above)$631,430
VIII-1h Total contributions, gifts and grants$5,130,337
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $21,695,203$21,695,203
VIII-3 Investment incomeExcluded from tax $1,139,575$1,139,575
VIII-6 Net rental income or lossExcluded from tax −$109,643−$109,643
VIII-8 Net income from fundraising eventsExcluded from tax $285,710$285,710
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $922,531$922,531
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $23,933,376$29,063,713
Part IX · Statement of functional expenses $27,475,647 across 17 lines filed
IX-2 Grants to domestic individualsPrograms $3,447,209$3,447,209
IX-5 Pay of current officers, directors and key staffPrograms $123,518 · Management $476,204 · Fundraising $123,518$723,240
IX-7 Other salaries and wagesPrograms $10,508,918 · Management $1,340,548 · Fundraising $586,645$12,436,111
IX-8 Pension plan contributionsPrograms $435,179 · Management $71,758 · Fundraising $29,067$536,004
IX-9 Other employee benefitsPrograms $1,422,919 · Management $234,631 · Fundraising $95,039$1,752,589
IX-10 Payroll taxesPrograms $768,461 · Management $156,124 · Fundraising $50,239$974,824
IX-11b Legal feesManagement $30,406$30,406
IX-11c Accounting feesManagement $29,850$29,850
IX-11g Other fees for servicesManagement $139,902$139,902
IX-12 Advertising and promotionPrograms $222,426 · Management $25,886 · Fundraising $6,472$254,784
IX-14 Information technologyPrograms $204,183 · Management $23,763 · Fundraising $5,941$233,887
IX-19 Conferences, conventions and meetingsPrograms $73,486 · Management $85,392 · Fundraising $33,195$192,073
IX-20 InterestManagement $460,339$460,339
IX-22 Depreciation, depletion and amortizationPrograms $1,466,295 · Management $170,648 · Fundraising $42,662$1,679,605
IX-23 InsurancePrograms $234,711 · Management $27,316 · Fundraising $6,829$268,856
IX-24 Other expenses (24a–d)Programs $2,678,520 · Management $541,811 · Fundraising $213,736$3,434,067
IX-24e All other expensesPrograms $610,405 · Management $139,053 · Fundraising $132,443$881,901
IX-25 Total functional expensesPrograms $22,196,230 · Management $3,953,631 · Fundraising $1,325,786$27,475,647
Part X · Balance sheet $87,735,796 assets, 18 lines filed
X-2 Savings and temporary cash investmentsStart of year $14,796,419$13,665,558
X-3 Pledges and grants receivableStart of year $652,659$2,026,374
X-4 Accounts receivableStart of year $34,729$46,647
X-8 Inventories for sale or useStart of year $140,422$144,431
X-9 Prepaid expenses and deferred chargesStart of year $515,584$613,186
X-10c Land, buildings and equipment, netStart of year $26,058,925$25,813,858
X-11 Publicly traded securitiesStart of year $41,028,313$44,871,276
X-15 Other assetsStart of year $517,004$554,466
X-16 Total assetsStart of year $83,744,055$87,735,796
X-17 Accounts payable and accrued expensesStart of year $2,814,970$2,324,270
X-19 Deferred revenueStart of year $4,766,905$4,608,541
X-20 Tax-exempt bond liabilitiesStart of year $10,585,542$9,908,094
X-25 Other liabilitiesStart of year $274,754$291,409
X-26 Total liabilitiesStart of year $18,442,171$17,132,314
X-27 Net assets without donor restrictionsStart of year $26,298,580$27,439,937
X-28 Net assets with donor restrictionsStart of year $39,003,304$43,163,545
X-32 Total net assets or fund balancesStart of year $65,301,884$70,603,482
X-33 Total liabilities and net assetsStart of year $83,744,055$87,735,796
Part XI · Reconciliation of net assets $70,603,482 net assets at year end
XI-1 Total revenue$29,063,713
XI-2 Total expenses$27,475,647
XI-3 Revenue less expenses$1,588,066
XI-4 Net assets at start of year$65,301,884
XI-5 Net unrealized gains (losses) on investments$3,676,070
XI-9 Other changes in net assets$37,462
XI-10 Net assets at end of year$70,603,482

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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