You’re viewing the FY2024 filing — not the latest on file.
See the latest (FY2025) →
Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1943.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
73 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
33 people listed on the 990; $2.2M paid to officers and key staff (Part VII, Section A).
Part VII, Section A · reportable compensation
Head of School
$663,878Pt VII · Sec A
Chief Financial Officer
$319,233Pt VII · Sec A
Assistant Head of School
$307,424Pt VII · Sec A
Director of Institutional Adva
$265,911Pt VII · Sec A
Head of Lower School
$209,305Pt VII · Sec A
Head of Upper School
$205,102Pt VII · Sec A
Chief Operating Officer
$201,275Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Chair
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Dr Thomas J Locke’s $770K as Head of School is at the 97th percentile of top reported officer pay among 3681 $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 | FY2020 |
|---|---|---|---|---|---|---|
| Dr Thomas J Locke | $769,596 | $663,878 | $708,417 | $866,159 | $741,446 | $458,493 |
| Christopher Torino | $340,186 | $307,424 | $227,011 | — | — | — |
| Lawrence Capuzzi | $337,835 | $319,233 | $300,064 | $272,598 | $253,438 | $250,246 |
| Paul Sanders | — | — | — | — | $267,212 | $253,987 |
| Jennifer Fifer | $260,215 | $265,911 | $244,746 | $230,075 | $226,393 | $214,038 |
| Michael Letts | $211,699 | $205,102 | $197,102 | $181,088 | $169,797 | $160,595 |
| Laurie Piette | $211,617 | — | — | — | — | — |
| Mark Notaro | $210,576 | $201,275 | $199,421 | $185,481 | $156,083 | $152,466 |
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.
See Episcopal Academy executive salaries →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 children from preschool through high school in a co-educational setting.
Questions for Episcopal Academy
Your first name shows with your question. Episcopal Academy answers here, for everyone.
1 program · $44.7M · in their own filed words · FY2023
01
The Episcopal Academy is an independent, co-educational day school located in newtown square, pennsylvania. Its curriculum is college preparatory and includes grades pre-kindergarten through twelve. The enrollment at the Academy is approximately 1,282 students.
Form 990 Part III, line 4, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 23-1370500) · Dispute this line$44.7Mprogram 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
The Tally FoundationFY2025$50K
Horizons Greater Philadelphia INCFY2025$48K
The Blackbaud Giving FundFY2025$7K
Total grants receivedfrom 3 funders$105K
Grants paid · 6 grants · $55.1M · 2019–2024
Unitemized GrantFY2024$10,710,673
Unitemized GrantFY2023$9,717,379
Unitemized GrantFY2022$8,935,384
Unitemized GrantFY2021$8,868,033
Unitemized GrantFY2020$8,772,345
Unitemized GrantFY2019$8,086,700
By the numbers
The FY2024 990, line by line.
Download 990
1The main four
Money inPt VIII
$74.8M
Ln 12
Fees for servicesLn 2g$49.3M
Gifts and grantsLn 1h$12.5M
Other incomeLn 4–11$9.6M
Money outPt IX
$60.9M
Ln 25
Programscol B$44.7M
Managementcol C$13.0M
Fundraisingcol D$3.2M
Owns and owesPt X
$295.3M
net assets · Ln 32
Cash and savingsLn 1–2$15.8M
Total assetsLn 16$319.6M
LiabilitiesLn 26$24.3M
PeoplePt VI, VII
33
listed · VII A
PaidVII A7
Voting boardVI 1a26
IndependentVI 1b26
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$12.5M
Government grantsLn 1e$260K
Noncash giftsLn 1g$496K
Fundraising eventsLn 1c$434K
Fees for servicesLn 2g$49.3M
Investment incomeLn 3$3.4M
Other incomeLn 4–11$9.6M
Gains on assetsLn 7$9.3M
Total revenueLn 12$74.8M
Assets in detailPt X, end of year
CashLn 1$2K
SavingsLn 2$15.8M
Cash and savings togetherLn 1–2$15.8M
Pledges and grants receivableLn 3$7.9M
Accounts receivableLn 4$380K
Inventories for sale or useLn 8$93K
Prepaid expenses and deferred chargesLn 9$2.2M
Land, buildings, equipmentLn 10c$152.8M
InvestmentsLn 11–13$139.8M
Intangible assetsLn 14$645K
Total assetsLn 16$319.6M
LiabilitiesLn 26$24.3M
Net assetsLn 32$295.3M
OperationsPt I, VI
EmployeesI 5578
VolunteersI 6150
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$7.1M
Bond issues listedSch K Pt I1
Raised by those issuesSch K Pt I$10.5M
Abroad and in kindSch F, M
Grants to other countriesSch F Pt II–III$62K
Noncash gifts receivedSch M Pt I$496K
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$65K
Share of the $139.4M endowmentSch D 1g0.05%
Typical, median of 2,202 orgs0.44%
EndowmentSch D · Pt V
| Line | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|
| End of yearLn 1g | $139.4M | $109.6M | $96.5M | $101.7M | $78.5M |
| AddedLn 1b | $19.1M | $6.4M | $11.2M | $6.5M | $3.0M |
| SpentLn 1d–1f | $3.9M | $3.2M | $3.4M | $3.1M | $3.1M |
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $20.3M | $15.8M |
| InvestmentsLn 11–13 | $109.8M | $139.8M |
| Land, buildings, equipmentLn 10c | $151.4M | $152.8M |
| Total assetsLn 16 | $302.6M | $319.6M |
| LiabilitiesLn 26 | $23.6M | $24.3M |
| Net assetsLn 32 | $278.9M | $295.3M |
Business incomeForm 990-T, Part I
| Line | FY24 |
|---|---|
| Gross | $0 |
| Net | $0 |
| Tax | $0 |
5Every line
Statement of functional expensesPt IX · every line
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $0 | |||
| Grants to domestic individualsLn 2 | $9.7M | $9.7M | ||
| Grants and assistance to foreign recipientsLn 3 | $62K | $62K | ||
| Benefits paid to or for membersLn 4 | $0 | |||
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $1.4M | $948K | $350K | $86K |
| Pay of disqualified personsLn 6 | $0 | |||
| Other salaries and wagesLn 7 | $27.7M | $18.9M | $7.0M | $1.7M |
| Pension plan contributionsLn 8 | $1.6M | $1.1M | $417K | $103K |
| Other employee benefitsLn 9 | $2.2M | $1.5M | $566K | $139K |
| Payroll taxesLn 10 | $2.2M | $1.5M | $548K | $135K |
| Management feesLn 11a | $0 | |||
| Legal feesLn 11b | $106K | $73K | $27K | $7K |
| Accounting feesLn 11c | $25K | $17K | $6K | $2K |
| Lobbying feesLn 11d | $0 | |||
| Professional fundraising feesLn 11e | $0 | |||
| Investment management feesLn 11f | $65K | $65K | ||
| Other fees for servicesLn 11g | $1.5M | $995K | $368K | $91K |
| Advertising and promotionLn 12 | $136K | $93K | $34K | $8K |
| Office expensesLn 13 | $1.3M | $903K | $334K | $82K |
| Information technologyLn 14 | $1.1M | $723K | $267K | $66K |
| RoyaltiesLn 15 | $0 | |||
| OccupancyLn 16 | $2.0M | $1.4M | $511K | $126K |
| TravelLn 17 | $1.3M | $882K | $326K | $80K |
| Travel and entertainment for public officialsLn 18 | $0 | |||
| Conferences, conventions and meetingsLn 19 | $0 | |||
| InterestLn 20 | $236K | $162K | $60K | $15K |
| Payments to affiliatesLn 21 | $0 | |||
| Depreciation, depletion and amortizationLn 22 | $5.2M | $3.5M | $1.3M | $322K |
| InsuranceLn 23 | $331K | $226K | $84K | $21K |
| Other expenses (24a–d)Ln 24 | $1.6M | $1.1M | $394K | $97K |
| All other expensesLn 24e | $1.2M | $834K | $308K | $76K |
| Total functional expensesLn 25 | $60.9M | $44.7M | $13.0M | $3.2M |
The full sourced 990Scout+ report on Episcopal Academy
Everything above stays free. The full report adds:
- Full 990 data with the filed return attached
- Revenue quality
- Key people and pay
- Compliance checks run against 4 federal lists
- Red flags with the evaluator crosswalk
- Peer measures
$150 one time, for this organization
Buy this reportFiling history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 LatestFiled with the IRS Apr 16, 2026 | $81.1M | $63.8M | $17.3M | $318.3M | 990 PDF |
| FY2024 ViewingFiled with the IRS Apr 14, 2025 | $74.8M | $60.9M | $13.9M | $295.3M | 990 PDF |
| FY2023Filed with the IRS May 14, 2024 | $70.7M | $57.5M | $13.1M | $278.9M | 990 PDF |
| FY2022Filed with the IRS May 8, 2023 | $65.5M | $57.5M | $8.0M | $262.0M | 990 PDF |
| FY2021Filed with the IRS May 14, 2022 | $56.5M | $52.8M | $3.8M | $267.2M | 990 PDF |
| FY2020Filed with the IRS Jan 29, 2021 | $57.4M | $53.0M | $4.4M | $246.0M | 990 PDF |
Schedules filed Part IV
A · Public support
D · Assets and endowments
F · Foreign
I · Grants
J · Pay
M · Noncash
O · Explanations
See the full FY2024 990
Part I · Summary $74,753,498 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $20,039,728$12,460,366
I-9 Program service revenuePrior year $47,090,875$49,284,833
I-10 Investment incomePrior year $3,612,017$12,732,037
I-11 Other revenuePrior year −$48,868$276,262
I-12 Total revenuePrior year $70,693,752$74,753,498
I-13 Grants and similar amounts paidPrior year $8,986,092$9,779,333
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $32,897,859$35,100,747
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $15,665,015$15,984,739
I-18 Total expensesPrior year $57,548,966$60,864,819
I-19 Revenue less expensesPrior year $13,144,786$13,888,679
Part VI · Governance 26 of 26 board members independent, no flags
VI-1a Voting members of the governing body26
VI-1b Independent voting members26
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 $74,753,498 across 13 lines filed
Lines not itemized here account for −$10,023 of total revenue; see the IRS return.
VIII-1c Fundraising events$434,114
VIII-1e Government grants$259,695
VIII-1f All other contributions, gifts and grants$11,766,557
VIII-1g Noncash contributions (included above)$496,357
VIII-1h Total contributions, gifts and grants$12,460,366
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $49,284,833$49,284,833
VIII-3 Investment incomeExcluded from tax $3,444,582$3,444,582
VIII-5 Royalties$0
VIII-6 Net rental income or loss$141,281
VIII-7 Net gain or loss on sales of assets$9,287,455
VIII-8 Net income from fundraising events−$23,208
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $168,212$168,212
VIII-12 Total revenueRelated to mission $49,453,045 · Unrelated business $0 · Excluded from tax $3,444,582$74,753,498
Part IX · Statement of functional expenses $60,864,819 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individualsPrograms $9,717,379$9,717,379
IX-3 Grants and assistance to foreign recipientsPrograms $61,954$61,954
IX-4 Benefits paid to or for members$0
IX-5 Pay of officers and key staff (Part IX, line 5)Programs $947,539 · Management $350,310 · Fundraising $86,228$1,384,077
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $18,940,539 · Management $7,002,411 · Fundraising $1,723,627$27,666,577
IX-8 Pension plan contributionsPrograms $1,127,737 · Management $416,930 · Fundraising $102,626$1,647,293
IX-9 Other employee benefitsPrograms $1,532,237 · Management $566,476 · Fundraising $139,437$2,238,150
IX-10 Payroll taxesPrograms $1,481,919 · Management $547,873 · Fundraising $134,858$2,164,650
IX-11a Management fees$0
IX-11b Legal feesPrograms $72,809 · Management $26,918 · Fundraising $6,626$106,353
IX-11c Accounting feesPrograms $17,408 · Management $6,436 · Fundraising $1,584$25,428
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management feesManagement $65,420$65,420
IX-11g Other fees for servicesPrograms $994,841 · Management $367,798 · Fundraising $90,532$1,453,171
IX-12 Advertising and promotionPrograms $93,193 · Management $34,454 · Fundraising $8,481$136,128
IX-13 Office expensesPrograms $902,933 · Management $333,819 · Fundraising $82,168$1,318,920
IX-14 Information technologyPrograms $723,218 · Management $267,377 · Fundraising $65,815$1,056,410
IX-15 Royalties$0
IX-16 OccupancyPrograms $1,383,431 · Management $511,461 · Fundraising $125,895$2,020,787
IX-17 TravelPrograms $881,762 · Management $325,992 · Fundraising $80,242$1,287,996
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $161,705 · Management $59,783 · Fundraising $14,715$236,203
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $3,540,037 · Management $1,308,769 · Fundraising $322,151$5,170,957
IX-23 InsurancePrograms $226,276 · Management $83,655 · Fundraising $20,592$330,523
IX-24 Other expenses (24a–d)Programs $1,066,608 · Management $394,330 · Fundraising $97,064$1,558,002
IX-24e All other expensesPrograms $834,145 · Management $308,387 · Fundraising $75,909$1,218,441
IX-25 Total functional expensesPrograms $44,707,670 · Management $12,978,599 · Fundraising $3,178,550$60,864,819
Part X · Balance sheet $319,607,013 assets, 30 lines filed
X-1 Cash, non-interest-bearingStart of year $20,686$1,592
X-2 Savings and temporary cash investmentsStart of year $20,302,411$15,785,011
X-3 Pledges and grants receivableStart of year $14,046,317$7,857,347
X-4 Accounts receivableStart of year $327,160$380,090
X-5 Loans to officers and key peopleStart of year $0$0
X-6 Loans to other insidersStart of year $0$0
X-7 Notes and loans receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $61,611$92,732
X-9 Prepaid expenses and deferred chargesStart of year $5,915,337$2,244,253
X-10c Land, buildings and equipment, netStart of year $151,443,976$152,783,640
X-11 Publicly traded securitiesStart of year $99,887,427$129,117,490
X-12 Other securitiesStart of year $9,900,000$10,700,000
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $649,062$644,858
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $302,553,987$319,607,013
X-17 Accounts payable and accrued expensesStart of year $3,895,036$4,582,102
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $11,549,298$12,397,518
X-20 Tax-exempt bond liabilitiesStart of year $7,833,115$7,067,095
X-21 Escrow or custodial accountsStart of year $0$0
X-22 Loans from officers and insidersStart of year $0$0
X-23 Secured mortgages and notes payableStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $349,201$253,004
X-26 Total liabilitiesStart of year $23,626,650$24,299,719
X-27 Net assets without donor restrictionsStart of year $219,796,674$232,322,973
X-28 Net assets with donor restrictionsStart of year $59,130,663$62,984,321
X-32 Total net assets or fund balancesStart of year $278,927,337$295,307,294
X-33 Total liabilities and net assetsStart of year $302,553,987$319,607,013
Part XI · Reconciliation of net assets $295,307,294 net assets at year end
XI-1 Total revenue$74,753,498
XI-2 Total expenses$60,864,819
XI-3 Revenue less expenses$13,888,679
XI-4 Net assets at start of year$278,927,337
XI-5 Net unrealized gains (losses) on investments$2,491,278
XI-10 Net assets at end of year$295,307,294
Form 990 e-file FY2024 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
Similar: HARRISBURG ACADEMY · EPISCOPAL SCHOOL OF NASHVILLE · ST LUKE'S SCHOOL · EPISCOPAL COLLEGIATE SCHOOL · HAMPTON ROADS ACADEMY · RUTGERS PREPARATORY SCHOOL
Similar organizations you could support · Compare with another nonprofit
The names, titles, and financial information shown on this page are reproduced from IRS Form 990 filings, which are public records. More
Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown. A filing can only be corrected by the organization filing an amended return with the IRS; the corrected information appears here at our next update.
We publish only information contained in the public IRS filing, and less than the filing contains. Our pages do not display home addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.
Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.
If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.
Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.
If you believe the IRS filing itself is inaccurate, contact the filing organization or the IRS directly.
Featured nonprofit jobs
-
Development Coordinator – UC Irvine
University of California Irvine Foundation · Irvine, CA$61,859 to $71,802 a yearSee the job →
-
Senior Coordinator, Gift Planning and Donor Services
Los Angeles Philharmonic Association · Los Angeles, CA$71,000 to $75,000 a yearSee the job →
-
Region Director of Philanthropy – California
The Trust for Public Land · Los Angeles, CA$165,000 to $175,000 a yearSee the job →