Greenhills School FY2024 filing

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Within a community of belongin, Greenhills School inspires and challenges students to be curious, think deeply, explore creatively, act with empathy, and better the world.

501(c)(3) charity; gifts are tax-deductible.
71¢ of each $1 spent went to programs.
$2.1M 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

FY2024 · 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 6
filings with a surplus
Average surplus $1.3M a year · 6% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.1M
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Plus $18.7M in investments, Pt X · Ln 11–13
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $167K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$11.4M
27% of total assets
Looks good: liabilities are 27% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$24.9M
+13% vs prior year
Spent
$23.1M
To programs
71%
Net assets
$30.7M
By yearFY2020–FY2025
Revenue
$24.9M
FY2024▲ +13%
Tap a bar for its year
Revenue by fiscal year
FY2020$14.4M
FY2021$17.9M
FY2022$18.3M
FY2023$22.1M
FY2024$24.9M
FY2025$27.7M
Expenses
$23.1M
FY2024▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$14.5M
FY2021$15.6M
FY2022$17.9M
FY2023$21.3M
FY2024$23.1M
FY2025$25.4M
Net assets
$30.7M
FY2024▲ +11%
Tap a bar for its year
Net assets by fiscal year
FY2020$23.1M
FY2021$27.6M
FY2022$26.2M
FY2023$27.6M
FY2024$30.7M
FY2025$33.9M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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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 Jul 1967.

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

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $16.5M Management & general 25% · $5.7M Fundraising 4% · $887K

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

21 people listed on the 990; $2.1M 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
Head of School
$452,882Pt VII · Sec A
Association Head of School
$244,773Pt VII · Sec A
Chief Financial Officer
$223,781Pt VII · Sec A
Director of Advancement
$208,538Pt VII · Sec A
Director of IT Services
$155,583Pt VII · Sec A
Head of Upper School
$153,018Pt VII · Sec A
Diversity, Equity, and Inclusion
$147,680Pt VII · Sec A
Of College Counseling (to 6/2023)
$144,013Pt VII · Sec A

Peter Fayroian’s $592K as Head of School is at the 93rd 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
Peter Fayroian$592,422—————
Mr Peter B Fayroian—$452,882$428,024$360,276$334,651$337,915
John Nickel$263,132—————
Paul Gargaro$244,793—————
Ms E Quincy McLaughlin—$244,773————
Mr John R Nickel—$223,781$204,169$180,083$170,512$159,245
Mr Paul Gargaro—$208,538$193,003$172,481$156,748$153,153
Marissa Green$192,601—————

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 Greenhills School 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

Develops young people's full potential for college and responsible citizenship.

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2 programs · $16.5M · in their own filed words · FY2023
01

Greenhills school is an independent, non-denominational, coed college preparatory school enrolling grades 6-12 with an emphasis on scholastic, athletic, artistic and educational excellence for approximately 680 students.

$13.7Mprogram expense
02

The school also provides for tuition remission for the children of employees meeting certain longevity requirements. This program benefited 31 students this fiscal year.

$2.8Mprogram 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 · FY2024
See all 5 funders →
Grants paid · 12 grants · $15.0M · 2019–2024
Unitemized GrantFY2024$3,042,570
Unitemized GrantFY2024$623,790
Unitemized GrantFY2023$2,630,010
Unitemized GrantFY2023$531,200
Unitemized GrantFY2022$2,040,660
Unitemized GrantFY2022$422,416
Unitemized GrantFY2021$1,803,100
Unitemized GrantFY2021$290,823
Unitemized GrantFY2020$1,612,600
Unitemized GrantFY2020$223,491
Unitemized GrantFY2019$1,508,125
Unitemized GrantFY2019$283,544

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$24.9M
Ln 12
Fees for servicesLn 2g$21.8M
Gifts and grantsLn 1h$2.4M
Investment incomeLn 3$668K
Money outPt IX
$23.1M
Ln 25
Programscol B$16.5M
Managementcol C$5.7M
Fundraisingcol D$887K
Owns and owesPt X
$30.7M
net assets · Ln 32
Cash and savingsLn 1–2$4.8M
Total assetsLn 16$42.1M
LiabilitiesLn 26$11.4M
PeoplePt VI, VII
21
listed · VII A
PaidVII A11
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.4M
Noncash giftsLn 1g$89K
Fundraising eventsLn 1c$67K
Fees for servicesLn 2g$21.8M
Investment incomeLn 3$668K
Other incomeLn 4–11$62K
Gains on assetsLn 7−$17K
Total revenueLn 12$24.9M
Assets in detailPt X, end of year
CashLn 1$18K
SavingsLn 2$4.7M
Cash and savings togetherLn 1–2$4.8M
InvestmentsLn 11–13$18.7M
Land, buildings, equipmentLn 10c$17.4M
Other assetsLn 15$432K
Total assetsLn 16$42.1M
LiabilitiesLn 26$11.4M
Net assetsLn 32$30.7M
OperationsPt I, VI
EmployeesI 5215
VolunteersI 625
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$89K
EndowmentSch D · Pt V
LineFY24FY23FY22FY21FY20
End of yearLn 1g$10.1M$9.1M$8.4M$10.2M$8.3M
Given inLn 1b$560K$440K$27K$15K$12K
SpentLn 1d–1f$887K$711K$342K$555K$389K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$3.4M$4.8M
InvestmentsLn 11–13$17.3M$18.7M
Land, buildings, equipmentLn 10c$17.4M$17.4M
Total assetsLn 16$38.8M$42.1M
LiabilitiesLn 26$11.2M$11.4M
Net assetsLn 32$27.6M$30.7M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$3.2M$3.2M
Pay of current officers, directors and key staffLn 5$1.7M$1.1M$476K$80K
Other salaries and wagesLn 7$9.7M$6.4M$2.8M$469K
Pension plan contributionsLn 8$780K$488K$257K$35K
Other employee benefitsLn 9$1.8M$1.4M$331K$60K
Payroll taxesLn 10$816K$556K$222K$38K
Legal feesLn 11b$6K$6K
Accounting feesLn 11c$46K$46K
Investment management feesLn 11f$69K$69K
Other fees for servicesLn 11g$2.0M$1.3M$618K$49K
Office expensesLn 13$651K$120K$532K
Information technologyLn 14$285K$285K
OccupancyLn 16$223K$217K$5K$1K
InterestLn 20$92K$92K
Depreciation, depletion and amortizationLn 22$1.1M$1.1M$26K$5K
InsuranceLn 23$191K$191K
Other expenses (24a–d)Ln 24$584K$260K$174K$150K
Total functional expensesLn 25$23.1M$16.5M$5.7M$887K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 12, 2026 $27.7M$25.4M$2.3M$33.9M 990 PDF
FY2024 ViewingFiled with the IRS May 12, 2025 $24.9M$23.1M$1.9M$30.7M 990 PDF
FY2023Filed with the IRS May 8, 2024 $22.1M$21.3M$791K$27.6M 990 PDF
FY2022Filed with the IRS Apr 26, 2023 $18.3M$17.9M$434K$26.2M 990 PDF
FY2021Filed with the IRS May 11, 2022 $17.9M$15.6M$2.3M$27.6M 990 PDF
FY2020Filed with the IRS May 12, 2021 $14.4M$14.5M−$130K$23.1M 990 PDF

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 FY2024 990 (6 parts)
Part I · Summary $24,945,534 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $903,403$2,366,030
I-9 Program service revenuePrior year $20,229,653$21,849,913
I-10 Investment incomePrior year $861,784$668,016
I-11 Other revenuePrior year $55,437$61,575
I-12 Total revenuePrior year $22,050,277$24,945,534
I-13 Grants and similar amounts paidPrior year $2,463,076$3,161,210
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $13,770,552$14,714,890
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $5,025,902$5,218,310
I-18 Total expensesPrior year $21,259,530$23,094,410
I-19 Revenue less expensesPrior year $790,747$1,851,124
Part VI · Governance 10 of 10 board members independent, no flags
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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 $24,945,534 across 10 lines filed
Lines not itemized here account for $28,487 of total revenue; see the IRS return.
VIII-1c Fundraising events$66,910
VIII-1f All other contributions, gifts and grants$2,299,120
VIII-1g Noncash contributions (included above)$89,150
VIII-1h Total contributions, gifts and grants$2,366,030
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $21,849,913$21,849,913
VIII-3 Investment incomeExcluded from tax $685,511$685,511
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$17,495−$17,495
VIII-8 Net income from fundraising eventsExcluded from tax $10,008$10,008
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $23,080$23,080
VIII-12 Total revenueRelated to mission $21,878,400 · Unrelated business $0 · Excluded from tax $701,104$24,945,534
Part IX · Statement of functional expenses $23,094,410 across 17 lines filed
IX-2 Grants to domestic individualsPrograms $3,161,210$3,161,210
IX-5 Pay of current officers, directors and key staffPrograms $1,096,570 · Management $476,494 · Fundraising $80,090$1,653,154
IX-7 Other salaries and wagesPrograms $6,423,175 · Management $2,791,068 · Fundraising $469,128$9,683,371
IX-8 Pension plan contributionsPrograms $488,154 · Management $257,216 · Fundraising $34,589$779,959
IX-9 Other employee benefitsPrograms $1,391,566 · Management $330,936 · Fundraising $59,717$1,782,219
IX-10 Payroll taxesPrograms $555,760 · Management $222,234 · Fundraising $38,193$816,187
IX-11b Legal feesManagement $5,805$5,805
IX-11c Accounting feesManagement $46,125$46,125
IX-11f Investment management feesManagement $69,225$69,225
IX-11g Other fees for servicesPrograms $1,286,272 · Management $618,057 · Fundraising $49,144$1,953,473
IX-13 Office expensesPrograms $119,661 · Management $531,511$651,172
IX-14 Information technologyPrograms $285,192$285,192
IX-16 OccupancyPrograms $217,004 · Management $5,193 · Fundraising $1,035$223,232
IX-20 InterestPrograms $91,587$91,587
IX-22 Depreciation, depletion and amortizationPrograms $1,086,678 · Management $26,007 · Fundraising $5,183$1,117,868
IX-23 InsuranceManagement $190,946$190,946
IX-24 Other expenses (24a–d)Programs $259,663 · Management $173,865 · Fundraising $150,157$583,685
IX-25 Total functional expensesPrograms $16,462,492 · Management $5,744,682 · Fundraising $887,236$23,094,410
Part X · Balance sheet $42,091,363 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $6,655$18,111
X-2 Savings and temporary cash investmentsStart of year $3,391,638$4,742,240
X-3 Pledges and grants receivableStart of year $2,125$657,241
X-4 Accounts receivableStart of year $25,651$11,591
X-9 Prepaid expenses and deferred chargesStart of year $173,227$146,771
X-10c Land, buildings and equipment, netStart of year $17,399,003$17,361,298
X-11 Publicly traded securitiesStart of year $17,331,236$18,722,362
X-15 Other assetsStart of year $475,721$431,749
X-16 Total assetsStart of year $38,805,256$42,091,363
X-17 Accounts payable and accrued expensesStart of year $357,494$230,090
X-19 Deferred revenueStart of year $7,805,715$8,459,645
X-25 Other liabilitiesStart of year $69,476$54,263
X-26 Total liabilitiesStart of year $11,236,616$11,387,539
X-27 Net assets without donor restrictionsStart of year $18,872,845$19,621,232
X-28 Net assets with donor restrictionsStart of year $8,695,795$11,082,592
X-32 Total net assets or fund balancesStart of year $27,568,640$30,703,824
X-33 Total liabilities and net assetsStart of year $38,805,256$42,091,363
Part XI · Reconciliation of net assets $30,703,824 net assets at year end
XI-1 Total revenue$24,945,534
XI-2 Total expenses$23,094,410
XI-3 Revenue less expenses$1,851,124
XI-4 Net assets at start of year$27,568,640
XI-5 Net unrealized gains (losses) on investments$1,349,816
XI-9 Other changes in net assets−$65,756
XI-10 Net assets at end of year$30,703,824

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

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