University School FY2023 filing

Tax-deductible

Shaker Hts, OH501(c)(3)Since 1890EducationEIN 34-0714720Revenue $54.8M in FY2023

On file with the IRSus.edu20701 Brantley Rd, 44122-1929 · Shaker Hts, OHTax-exempt since May 1927School — 170(b)(1)(A)(ii)

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The mission of University School is to develop promising and motivated boys into accomplished and independent young men who aspire to make a difference in the world. The School is rigorous. Our programs, led by challenging and supportive faculty, promote intellectual, physical, creative, and moral excellence. We believe these goals are best achieved in a diverse community where tradition is valued and where every boy is known and loved.

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
$1.4M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
6 of 6
filings with a surplus
Average surplus $11.6M a year · 21% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
86%
of spending
Looks good: 86% 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 · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $72K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$13.8M
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
28
of 28 voting members
Looks good: 28 of 28 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$54.8M
-0.9% vs prior year
Spent
$44.9M
To programs
86%
Net assets
$192.8M
By yearFY2020–FY2025
Revenue
$54.8M
FY2023▼ -0.9%
Tap a bar for its year
Revenue by fiscal year
FY2020$41.1M
FY2021$67.0M
FY2022$55.3M
FY2023$54.8M
FY2024$59.2M
FY2025$51.6M
Expenses
$44.9M
FY2023▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$39.4M
FY2021$41.1M
FY2022$41.9M
FY2023$44.9M
FY2024$46.0M
FY2025$46.0M
Net assets
$192.8M
FY2023▲ +9%
Tap a bar for its year
Net assets by fiscal year
FY2020$135.8M
FY2021$178.7M
FY2022$177.1M
FY2023$192.8M
FY2024$216.2M
FY2025$230.7M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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 May 1927.

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

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $38.4M Management & general 11% · $4.8M Fundraising 4% · $1.7M

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 (FY2022); the FY2023 filing did not itemize Part VII
Head of School
$401,841Pt VII · Sec A
Finance Director
$215,556Pt VII · Sec A
Director of Advancement
$214,149Pt VII · Sec A
Upper School Director
$178,553Pt VII · Sec A
Associate Head of School
$153,393Pt VII · Sec A
$124,029Pt VII · Sec A
Director of Admissions
$116,836Pt VII · Sec A
Trustee
$0Pt VII · Sec A

Patrick Gallagher’s $443K as Head of School is at the 84th 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Patrick Gallagher$442,685$421,965$401,841$408,611$333,611$329,174
Jonathan Bridge$242,708$234,737$214,149$233,615$211,753$212,662
David J Wright—$172,257$215,556$220,212$226,612$226,789
Michel T Degandis$201,563$128,314————
William Daughtrey——$178,553$172,267$170,667$162,586
Jen Beros$167,096$160,219$153,393$148,288$129,008—
Rick Bryan—————$163,514
Greg Malkin————$129,291$155,132

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

Develops promising young boys into accomplished, independent men who aspire to make a difference.

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Provided by the organization

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1 program · $38.4M · in their own filed words · FY2022
01

Provide instruction to a regularly-enrolled student body(kindergarten through grade 12) for which a regular faculty andcollege-preparatory curriculum are maintained. There were 836FULL-TIME students enrolled at the school during the 2022-2023SCHOOL year.

$38.4Mprogram 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
Total grants receivedfrom 3 funders$72K
See all 3 funders →
Grants paid · 6 grants · $51.7M · 2019–2024
Unitemized GrantFY2024$9,513,988
Unitemized GrantFY2023$9,555,745
Unitemized GrantFY2022$9,175,436
Unitemized GrantFY2021$8,585,934
Unitemized GrantFY2020$8,296,300
Unitemized GrantFY2019$6,532,843

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$54.8M
Ln 12
Fees for servicesLn 2g$30.0M
Gifts and grantsLn 1h$21.0M
Investment incomeLn 3$3.8M
Money outPt IX
$44.9M
Ln 25
Programscol B$38.4M
Managementcol C$4.8M
Fundraisingcol D$1.7M
Owns and owesPt X
$192.8M
net assets · Ln 32
Cash and savingsLn 1–2$6.1M
Total assetsLn 16$206.6M
LiabilitiesLn 26$13.8M
PeoplePt VI, VII
36
listed · VII A
PaidVII A7
Voting boardVI 1a28
IndependentVI 1b28
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$21.0M
Government grantsLn 1e$4.8M
Noncash giftsLn 1g$304K
Fees for servicesLn 2g$30.0M
Investment incomeLn 3$3.8M
Other incomeLn 4–11$42K
Gains on assetsLn 7−$1.2M
Total revenueLn 12$54.8M
Assets in detailPt X, end of year
SavingsLn 2$6.1M
Cash and savings togetherLn 1–2$6.1M
InvestmentsLn 11–13$117.0M
Land, buildings, equipmentLn 10c$60.9M
Other assetsLn 15$391K
Total assetsLn 16$206.6M
LiabilitiesLn 26$13.8M
Net assetsLn 32$192.8M
OperationsPt I, VI
EmployeesI 5490
VolunteersI 6100
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 FY23End FY23
Cash and savingsLn 1–2$3.6M$6.1M
InvestmentsLn 11–13$107.7M$117.0M
Land, buildings, equipmentLn 10c$58.4M$60.9M
Total assetsLn 16$191.9M$206.6M
LiabilitiesLn 26$14.8M$13.8M
Net assetsLn 32$177.1M$192.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$9.2M$9.2M
Pay of current officers, directors and key staffLn 5$395K$99K$198K$99K
Other salaries and wagesLn 7$17.0M$14.9M$1.3M$787K
Pension plan contributionsLn 8$1.5M$1.3M$127K$77K
Other employee benefitsLn 9$2.8M$2.4M$235K$142K
Payroll taxesLn 10$1.2M$1.1M$105K$63K
Legal feesLn 11b$50K$50K
Accounting feesLn 11c$61K$61K
Advertising and promotionLn 12$410K$410K
Information technologyLn 14$734K$440K$257K$37K
Conferences, conventions and meetingsLn 19$294K$235K$44K$15K
InterestLn 20$232K$197K$23K$12K
Depreciation, depletion and amortizationLn 22$3.8M$3.2M$377K$189K
InsuranceLn 23$381K$228K$133K$19K
Other expenses (24a–d)Ln 24$5.8M$4.0M$1.5M$231K
All other expensesLn 24e$1.1M$678K$395K$56K
Total functional expensesLn 25$44.9M$38.4M$4.8M$1.7M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $51.6M$46.0M$5.6M$230.7M 990 PDF
FY2024 $59.2M$46.0M$13.2M$216.2M 990 PDF
FY2023 Viewing $54.8M$44.9M$9.9M$192.8M 990 PDF
FY2022 $55.3M$41.9M$13.4M$177.1M 990 PDF
FY2021 $67.0M$41.1M$25.9M$178.7M 990 PDF
FY2020 $41.1M$39.4M$1.7M$135.8M 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 FY2023 990 (6 parts)
Part I · Summary $54,819,092 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $17,708,313$21,008,739
I-9 Program service revenuePrior year $28,770,479$29,951,740
I-10 Investment incomePrior year $8,820,510$3,816,128
I-11 Other revenuePrior year $30,464$42,485
I-12 Total revenuePrior year $55,329,766$54,819,092
I-13 Grants and similar amounts paidPrior year $8,585,934$9,175,436
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $21,565,313$22,879,299
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $11,781,482$12,839,740
I-18 Total expensesPrior year $41,932,729$44,894,475
I-19 Revenue less expensesPrior year $13,397,037$9,924,617
Part VI · Governance 28 of 28 board members independent, no flags
VI-1a Voting members of the governing body28
VI-1b Independent voting members28
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 $54,819,092 across 10 lines filed
VIII-1d Related organizations$3,525,175
VIII-1e Government grants$4,759,237
VIII-1f All other contributions, gifts and grants$12,724,327
VIII-1g Noncash contributions (included above)$303,647
VIII-1h Total contributions, gifts and grants$21,008,739
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $29,951,740$29,951,740
VIII-3 Investment incomeUnrelated business $40,718 · Excluded from tax $4,940,573$4,981,291
VIII-6 Net rental income or lossExcluded from tax $42,485$42,485
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$1,165,163−$1,165,163
VIII-12 Total revenueRelated to mission $29,951,740 · Unrelated business $40,718 · Excluded from tax $3,817,895$54,819,092
Part IX · Statement of functional expenses $44,894,475 across 16 lines filed
IX-2 Grants to domestic individualsPrograms $9,175,436$9,175,436
IX-5 Pay of current officers, directors and key staffPrograms $98,750 · Management $197,500 · Fundraising $98,750$395,000
IX-7 Other salaries and wagesPrograms $14,901,154 · Management $1,265,459 · Fundraising $786,938$16,953,551
IX-8 Pension plan contributionsPrograms $1,302,575 · Management $127,042 · Fundraising $76,912$1,506,529
IX-9 Other employee benefitsPrograms $2,406,514 · Management $234,710 · Fundraising $142,096$2,783,320
IX-10 Payroll taxesPrograms $1,072,906 · Management $104,642 · Fundraising $63,351$1,240,899
IX-11b Legal feesManagement $50,033$50,033
IX-11c Accounting feesManagement $60,755$60,755
IX-12 Advertising and promotionPrograms $409,604$409,604
IX-14 Information technologyPrograms $440,220 · Management $256,795 · Fundraising $36,685$733,700
IX-19 Conferences, conventions and meetingsPrograms $234,806 · Management $44,026 · Fundraising $14,675$293,507
IX-20 InterestPrograms $197,483 · Management $23,233 · Fundraising $11,617$232,333
IX-22 Depreciation, depletion and amortizationPrograms $3,207,331 · Management $377,333 · Fundraising $188,667$3,773,331
IX-23 InsurancePrograms $228,449 · Management $133,262 · Fundraising $19,037$380,748
IX-24 Other expenses (24a–d)Programs $4,040,552 · Management $1,505,074 · Fundraising $230,839$5,776,465
IX-24e All other expensesPrograms $677,559 · Management $395,243 · Fundraising $56,462$1,129,264
IX-25 Total functional expensesPrograms $38,393,339 · Management $4,775,107 · Fundraising $1,726,029$44,894,475
Part X · Balance sheet $206,612,182 assets, 19 lines filed
X-2 Savings and temporary cash investmentsStart of year $3,586,013$6,072,615
X-3 Pledges and grants receivableStart of year $19,961,693$20,377,275
X-4 Accounts receivableStart of year $59,033$73,485
X-8 Inventories for sale or useStart of year $62,448$63,586
X-9 Prepaid expenses and deferred chargesStart of year $1,892,716$1,776,626
X-10c Land, buildings and equipment, netStart of year $58,442,625$60,865,821
X-11 Publicly traded securitiesStart of year $62,897,051$70,070,725
X-12 Other securitiesStart of year $44,760,205$46,921,200
X-15 Other assetsStart of year $197,143$390,849
X-16 Total assetsStart of year $191,858,927$206,612,182
X-17 Accounts payable and accrued expensesStart of year $3,438,750$3,438,533
X-19 Deferred revenueStart of year $1,332,193$1,222,960
X-20 Tax-exempt bond liabilitiesStart of year $9,828,980$8,994,791
X-25 Other liabilitiesStart of year $154,300$120,800
X-26 Total liabilitiesStart of year $14,754,223$13,777,084
X-27 Net assets without donor restrictionsStart of year $78,893,559$82,698,328
X-28 Net assets with donor restrictionsStart of year $98,211,145$110,136,770
X-32 Total net assets or fund balancesStart of year $177,104,704$192,835,098
X-33 Total liabilities and net assetsStart of year $191,858,927$206,612,182
Part XI · Reconciliation of net assets $192,835,098 net assets at year end
XI-1 Total revenue$54,819,092
XI-2 Total expenses$44,894,475
XI-3 Revenue less expenses$9,924,617
XI-4 Net assets at start of year$177,104,704
XI-5 Net unrealized gains (losses) on investments$5,542,906
XI-9 Other changes in net assets$262,871
XI-10 Net assets at end of year$192,835,098

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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