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Milton Hershey School and School Trust EIN 23-1353340

Milton Hershey School and School Trust

EIN  23-1353340 Higher education institution Hershey, PA Founded 1909
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 7/3/26 · see original filing: IRS
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Size
$100M+
What they do
Nurtures and educates children in social and financial need.
Leadership
Peter G Gurt · President · $838K
Money in and out
$1.3B revenue, $381.2M expenses
Bottom line
+70% operating surplus

Nurtures and educates children in social and financial need. For fiscal year 2024 it reported $1.3B in revenue, $381.2M in expenses, and $23.3B in net assets.Pt I

Financial scale & money flow · FY2024
Total revenue
$1.3B
Pt VIII · Ln 12
Total expenses
$381.2M
Pt IX · Ln 25
Net assets
$23.3B
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $881.4M
Where spending went · Part IX cols B–D
Program services $0.72 Management & general $0.28
Operating surplus
+70%
revenue over expenses, this legal entity▲ +28% vs prior filing year
Payroll share
48%
of this entity's spending is salaries & benefits▼ -3% vs prior filing year
Program spending
72%
of expenses reach program services▼ -5% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$1.3B
FY2024▲ +55%
Expenses
$381.2M
FY2024▲ +3%
Total assets
$23.6B
FY2024▲ +1%
Total liabilities
$253.3M
FY2024▼ -22%
Total revenue
$1.3B
Pt VIII · Ln 12
Total expenses
$381.2M
Pt IX · Ln 25
Net assets
$23.3B
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$881.4M
Total assetsPt X · Ln 16$23.6B
Program-expense ratioPt IX · col B72%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

1 program service account for $275.4M of program spending, described in the organization's own filed words · FY2024.
01

Program service accomplishments milton hershey school is committed to educating and nurturing the whole child-academically, physically, emotionally, and socially. Thanks to the vision and generosity of milton and catherine hershey, every enrolled student receives comprehensive care and opportunity at no cost to their family.

$275.4Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMilton Hershey School and School Trust
EINHdr · item D23-1353340
Principal addressHdr · item CHershey, PA
WebsiteHdr · item Jwww.mhs-pa.org
Year of formationHdr · item L1909
State of legal domicileHdr · item MPA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B200)
Ruling yearIRS BMFFeb 1937

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a14
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Peter G Gurt
President
$837,613Pt VII · Sec A
Elliott H Robinson
VP Administration
$403,434Pt VII · Sec A
Freda F Martine
SR VP of Edu and Student Life
$385,641Pt VII · Sec A
Andrew Clark ESQ.
VP Legal/Gen Counsel/Secretary
$332,768Pt VII · Sec A
$295,686Pt VII · Sec A
Lisa Rashid
VP - Communications
$285,255Pt VII · Sec A
William H Weber III
Head of Divisions
$255,662Pt VII · Sec A
Annette K Cole Gill
Head-Middle Division
$255,134Pt VII · Sec A

Peter G Gurt’s $838K as President is at the 68th 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
Peter G Gurt$837,613$744,646$675,110$628,159$627,138$550,547
Lisa Rashid$285,255$411,252$265,694$272,444$264,171$236,121
Elliott H Robinson$403,434$375,708$346,572$327,978$340,108$289,407
Freda F Martine$385,641$344,414$312,314$301,358$284,278$247,732
Andrew Clark ESQ$332,768$316,649$278,151$271,954$247,801—
Tanya Baynham$197,518$322,239$191,482$201,904$195,524$172,018
Jeffery Johnson—$218,164$263,155$315,634——
Renee Holloman$295,686$184,655————

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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Statement of Revenue

Part VIII
Investment income100%$1.3B
Contributions & grants$46K
Program service revenue$413K
Other revenue$2.1M
Total revenueLn 12$1.3B

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.72 Management & general $0.28
Program services72%$275.4M
Management & general28%$105.9M
Total functional expensesLn 25$381.2M

Balance Sheet

Part X · end of year
CashLn 1$284.0M
Total assetsLn 16$23.6B
Total liabilitiesLn 26$253.3M
Total net assetsLn 32$23.3B
Months of cash on handcomputed8.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $22.5B · Operating expenses/yr $381.2M
708.9 months
Where the money goes
Program services
Program services $275.4M · Total expenses $381.2M
72%
Management & General
Management & general $105.9M · Total expenses $381.2M
28%
Fundraising
Fundraising $0 · Total expenses $381.2M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $55K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $46K · Total revenue $1.3B
0%
Government reliance
Government grants — · Total revenue $1.3B
—
Earned-income share
Program service revenue $413K · Total revenue $1.3B
0%
Investment reliance
Investment income $1.3B · Total revenue $1.3B
+100%
Program self-sufficiency
Program service revenue $413K · Total expenses $381.2M
0%
Growth & trend
Revenue growth (YoY)
This year $1.3B · Prior year $814.0M
+55%
Revenue CAGR
FY2019 $462.0M · FY2024 $1.3B
+22%
Net-asset trend (YoY)
End of year $23.3B · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.3B · Expenses $381.2M
+70%
Liabilities-to-Assets
Total liabilities — · Total assets $23.6B
—
Net-asset ratio
Net assets $23.3B · Total assets $23.6B
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $4.6B · Other securities (Pt X, ln 12) $17.7B · Total assets (Pt X, ln 16) $23.6B
94%
People & payroll
Highest Reported Total Compensation
Individual Peter G Gurt · Reported title PRESIDENT · Highest reported compensation $838K · Total expenses $381.2M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $182.1M · Total expenses $381.2M
48%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 72%——
Overhead ratio 28%——
Revenue growth 55%——

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

Schedule I · received and paid
Grants received · FY2020
Aetna Foundation INCFY2020$99
Total grants receivedfrom 1 funder$99
Grants paid · 6 grants · $45.5M · 2019–2024
Unitemized GrantFY2024$9,551,378
Unitemized GrantFY2023$10,485,470
Unitemized GrantFY2022$5,103,468
Unitemized GrantFY2021$6,788,703
Unitemized GrantFY2020$5,100,278
Unitemized GrantFY2019$8,516,625

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$814.0M revenue · ⤓ 990 PDF
FY2023$888.2M revenue · ⤓ 990 PDF
FY2022$1.5B revenue · ⤓ 990 PDF
FY2021$1.0B revenue · ⤓ 990 PDF
FY2020$462.0M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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