We create confident learners who lead lives of intellectual curiosity, self-knowledge, and social responsibility.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$2.3M 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

FY2021 · 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
2 of 6
filings with a surplus
Average deficit $1.1M a year · 2% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.3M
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 $75.2M in investments, Pt X · Ln 11–13
Looks good: 6.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
34
named funders · $1.2M
Looks good: 34 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$33.8M
21% of total assets
Looks good: liabilities are 21% of assets; 50% or less.
Pt X · Ln 26
Independent board members
27
of 27 voting members
Looks good: 27 of 27 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$50.4M
+9% vs prior year
Spent
$47.7M
To programs
84%
Net assets
$123.7M
By yearFY2020–FY2025
Revenue
$50.4M
FY2021▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2020$46.2M
FY2021$50.4M
FY2022$46.2M
FY2023$51.2M
FY2024$55.8M
FY2025$56.5M
Expenses
$47.7M
FY2021▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2020$44.2M
FY2021$47.7M
FY2022$49.3M
FY2023$52.5M
FY2024$56.0M
FY2025$63.0M
Net assets
$123.7M
FY2021▲ +15%
Tap a bar for its year
Net assets by fiscal year
FY2020$107.2M
FY2021$123.7M
FY2022$115.9M
FY2023$120.2M
FY2024$125.5M
FY2025$124.6M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 Sep 1952.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $40.3M Management & general 13% · $6.4M Fundraising 2% · $1.0M

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

40 people listed on the 990; $2.3M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Head of School
$503,911Pt VII · Sec A
Chief Operating Officer
$207,795Pt VII · Sec A
Controller
$192,151Pt VII · Sec A
Director of Lower School
$185,625Pt VII · Sec A
Director of Middle School
$183,851Pt VII · Sec A
Advancement Director
$182,548Pt VII · Sec A
Director of Admissions
$171,141Pt VII · Sec A
Chief Information Officer
$155,699Pt VII · Sec A

Natalia R Hernandez’s $732K as Head of School is at the 96th 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
Natalia R Hernandez$732,497$757,553$600,454$510,431$503,911$487,451
Ted Forbath$236,084$226,780$218,018$211,839$207,795$203,131
Stacy Glaus$214,422$204,329$193,053—$142,908—
Wendy Engelman——$137,381$196,398$192,151$187,893
Troy M Baker$195,625$186,771————
Mark Garrison$194,963$176,172$168,698$161,160$155,699—
Schuyler Fauver$178,671$188,849$176,685$183,074$183,851$180,319
Margaret Bailey———$188,825$185,625$179,846

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 Breck School executive salaries →

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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
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Educates diverse students from pre-K through 12th grade in an Episcopal college-preparatory setting.

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Provided by the organization

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1 program · $40.3M · in their own filed words · FY2020
01

Breck School provides primary and secondary school academic programs for up to 1,200 students in grades pre-school through grade twelve. Breck also provides a wide range of activities for its students including athletics and academic extracurriculars, visual and performing arts, student publications and clubs.

$40.3Mprogram 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 34 funders →
Grants paid · 6 grants · $48.0M · 2019–2024
Unitemized GrantFY2024$9,074,195
Unitemized GrantFY2023$8,661,366
Unitemized GrantFY2022$8,023,203
Unitemized GrantFY2021$7,706,819
Unitemized GrantFY2020$7,721,485
Unitemized GrantFY2019$6,818,191

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$50.4M
Ln 12
Fees for servicesLn 2g$39.7M
Gifts and grantsLn 1h$7.6M
Investment incomeLn 3$2.9M
Money outPt IX
$47.7M
Ln 25
Programscol B$40.3M
Managementcol C$6.4M
Fundraisingcol D$1.0M
Owns and owesPt X
$123.7M
net assets · Ln 32
Cash and savingsLn 1–2$24.2M
Total assetsLn 16$157.5M
LiabilitiesLn 26$33.8M
PeoplePt VI, VII
40
listed · VII A
PaidVII A12
Voting boardVI 1a27
IndependentVI 1b27
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.6M
Government grantsLn 1e$5.6M
Noncash giftsLn 1g$196K
Fundraising eventsLn 1c$62K
Fees for servicesLn 2g$39.7M
Investment incomeLn 3$2.9M
Other incomeLn 4–11$277K
Gains on assetsLn 7$2.6M
Total revenueLn 12$50.4M
Assets in detailPt X, end of year
CashLn 1$21.5M
SavingsLn 2$2.7M
Cash and savings togetherLn 1–2$24.2M
InvestmentsLn 11–13$75.2M
Land, buildings, equipmentLn 10c$48.8M
Total assetsLn 16$157.5M
LiabilitiesLn 26$33.8M
Net assetsLn 32$123.7M
OperationsPt I, VI
EmployeesI 5539
VolunteersI 61,000
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 FY21End FY21
Cash and savingsLn 1–2$23.7M$24.2M
InvestmentsLn 11–13$61.0M$75.2M
Land, buildings, equipmentLn 10c$51.2M$48.8M
Total assetsLn 16$145.8M$157.5M
LiabilitiesLn 26$38.6M$33.8M
Net assetsLn 32$107.2M$123.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$7.7M$7.7M
Grants and assistance to foreign recipientsLn 3$44K$44K
Pay of current officers, directors and key staffLn 5$1.9M$520K$1.1M$218K
Other salaries and wagesLn 7$19.3M$17.2M$1.7M$419K
Pension plan contributionsLn 8$1.4M$1.3M$141K$29K
Other employee benefitsLn 9$3.3M$2.3M$785K$172K
Payroll taxesLn 10$1.5M$1.3M$199K$44K
Legal feesLn 11b$130K$1K$129K
Accounting feesLn 11c$44K$44K
Investment management feesLn 11f$758K$758K
Other fees for servicesLn 11g$2.2M$2.1M$143K$12K
Advertising and promotionLn 12$98K$11K$88K
Office expensesLn 13$553K$320K$193K$40K
Information technologyLn 14$309K$138K$140K$31K
RoyaltiesLn 15$1K$1K
OccupancyLn 16$2.4M$2.1M$264K$23K
TravelLn 17$128K$128K
Conferences, conventions and meetingsLn 19$157K$139K$17K$2K
InterestLn 20$230K$216K$13K$1K
Depreciation, depletion and amortizationLn 22$3.3M$3.1M$125K$17K
InsuranceLn 23$277K$62K$214K
Other expenses (24a–d)Ln 24$1.1M$1.1M$31K
All other expensesLn 24e$773K$452K$290K$31K
Total functional expensesLn 25$47.7M$40.3M$6.4M$1.0M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $56.5M$63.0M−$6.4M$124.6M 990 PDF
FY2024 $55.8M$56.0M−$195K$125.5M 990 PDF
FY2023 $51.2M$52.5M−$1.3M$120.2M 990 PDF
FY2022 $46.2M$49.3M−$3.1M$115.9M 990 PDF
FY2021 Viewing $50.4M$47.7M$2.8M$123.7M 990 PDF
FY2020 $46.2M$44.2M$1.9M$107.2M 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 F · Foreign M · Noncash J · Pay O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $50,445,152 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $7,232,115$7,563,300
I-9 Program service revenuePrior year $37,766,949$39,665,447
I-10 Investment incomePrior year $720,317$2,939,644
I-11 Other revenuePrior year $431,884$276,761
I-12 Total revenuePrior year $46,151,265$50,445,152
I-13 Grants and similar amounts paidPrior year $6,906,731$7,765,332
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $26,171,823$27,422,789
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $11,155,091$12,492,862
I-18 Total expensesPrior year $44,233,645$47,680,983
I-19 Revenue less expensesPrior year $1,917,620$2,764,169
Part VI · Governance 27 of 27 board members independent, no flags
VI-1a Voting members of the governing body27
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 $50,445,152 across 10 lines filed
Lines not itemized here account for $1,648,282 of total revenue; see the IRS return.
VIII-1c Fundraising events$62,288
VIII-1e Government grants$5,579,883
VIII-1f All other contributions, gifts and grants$1,921,129
VIII-1g Noncash contributions (included above)$196,293
VIII-1h Total contributions, gifts and grants$7,563,300
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $38,147,091$38,147,091
VIII-3 Investment incomeUnrelated business −$156,116 · Excluded from tax $461,402$305,286
VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,634,358$2,634,358
VIII-8 Net income from fundraising eventsExcluded from tax $146,835$146,835
VIII-12 Total revenueRelated to mission $39,665,447 · Unrelated business −$156,116 · Excluded from tax $3,372,521$50,445,152
Part IX · Statement of functional expenses $47,680,983 across 23 lines filed
IX-2 Grants to domestic individualsPrograms $7,721,485$7,721,485
IX-3 Grants and assistance to foreign recipientsPrograms $43,847$43,847
IX-5 Pay of current officers, directors and key staffPrograms $520,052 · Management $1,113,884 · Fundraising $218,315$1,852,251
IX-7 Other salaries and wagesPrograms $17,216,877 · Management $1,685,823 · Fundraising $419,399$19,322,099
IX-8 Pension plan contributionsPrograms $1,261,085 · Management $141,235 · Fundraising $29,193$1,431,513
IX-9 Other employee benefitsPrograms $2,335,722 · Management $784,802 · Fundraising $171,592$3,292,116
IX-10 Payroll taxesPrograms $1,282,461 · Management $198,503 · Fundraising $43,846$1,524,810
IX-11b Legal feesPrograms $1,357 · Management $128,966$130,323
IX-11c Accounting feesManagement $43,625$43,625
IX-11f Investment management feesManagement $757,573$757,573
IX-11g Other fees for servicesPrograms $2,089,602 · Management $142,646 · Fundraising $12,458$2,244,706
IX-12 Advertising and promotionPrograms $10,604 · Management $87,614$98,218
IX-13 Office expensesPrograms $319,510 · Management $192,942 · Fundraising $40,443$552,895
IX-14 Information technologyPrograms $138,314 · Management $139,596 · Fundraising $30,677$308,587
IX-15 RoyaltiesPrograms $1,242$1,242
IX-16 OccupancyPrograms $2,148,158 · Management $264,265 · Fundraising $23,325$2,435,748
IX-17 TravelPrograms $127,615$127,615
IX-19 Conferences, conventions and meetingsPrograms $138,709 · Management $16,687 · Fundraising $2,065$157,461
IX-20 InterestPrograms $215,639 · Management $13,473 · Fundraising $1,198$230,310
IX-22 Depreciation, depletion and amortizationPrograms $3,112,770 · Management $125,015 · Fundraising $17,471$3,255,256
IX-23 InsurancePrograms $62,242 · Management $214,464$276,706
IX-24 Other expenses (24a–d)Programs $1,069,210 · Management $30,800$1,100,010
IX-24e All other expensesPrograms $451,510 · Management $290,175 · Fundraising $30,902$772,587
IX-25 Total functional expensesPrograms $40,268,011 · Management $6,372,088 · Fundraising $1,040,884$47,680,983
Part X · Balance sheet $157,498,820 assets, 19 lines filed
Asset lines not itemized here account for $53,336; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $21,073,033$21,527,617
X-2 Savings and temporary cash investmentsStart of year $2,663,460$2,663,680
X-3 Pledges and grants receivableStart of year $454,470$325,954
X-4 Accounts receivableStart of year $6,154,391$5,886,437
X-8 Inventories for sale or useStart of year $110,242$100,364
X-9 Prepaid expenses and deferred chargesStart of year $3,062,426$2,911,096
X-10c Land, buildings and equipment, netStart of year $51,160,531$48,822,939
X-12 Other securitiesStart of year $61,037,685$75,207,397
X-16 Total assetsStart of year $145,805,473$157,498,820
X-17 Accounts payable and accrued expensesStart of year $3,036,977$3,143,364
X-19 Deferred revenueStart of year $18,535,691$20,319,763
X-20 Tax-exempt bond liabilitiesStart of year $8,891,247$8,292,632
X-24 Unsecured notes and loans payableStart of year $5,569,355$0
X-25 Other liabilitiesStart of year $1,310,533$1,340,648
X-26 Total liabilitiesStart of year $38,577,946$33,804,898
X-27 Net assets without donor restrictionsStart of year $49,336,289$53,293,667
X-28 Net assets with donor restrictionsStart of year $57,891,238$70,400,255
X-32 Total net assets or fund balancesStart of year $107,227,527$123,693,922
X-33 Total liabilities and net assetsStart of year $145,805,473$157,498,820
Part XI · Reconciliation of net assets $123,693,922 net assets at year end
XI-1 Total revenue$50,445,152
XI-2 Total expenses$47,680,983
XI-3 Revenue less expenses$2,764,169
XI-4 Net assets at start of year$107,227,527
XI-5 Net unrealized gains (losses) on investments$13,702,226
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$123,693,922

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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