Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1957.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
79 cents of each dollar spent went to programs.
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
28 people listed on the 990; $1.5M paid to officers and key staff.
Sarah Baker’s $409K as Head of School is at the 82nd 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
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Elizabeth Speers | — | $304,290 | $501,291 | $510,244 | $476,773 | $471,870 |
| Sarah Baker | $409,255 | $226,195 | $115,208 | — | — | — |
| Eric Norman | $298,543 | $279,432 | $232,501 | $223,272 | $205,600 | $188,815 |
| Anthony Pisapia | — | $254,215 | $212,018 | $203,641 | $202,099 | $183,219 |
| Kristin Mumford | $240,865 | $239,802 | $189,332 | $186,503 | $187,940 | $169,228 |
| Lindsay Acevado | $164,486 | $131,150 | $130,358 | $112,173 | — | — |
| Seth Kushkin | — | — | — | — | $143,407 | $131,535 |
| Karen Graham | — | $134,177 | $123,552 | — | — | — |
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
Educates students from age 3 through 12th grade.
Questions for Tower Hill School Association
Your first name shows with your question. Tower Hill School Association answers here, for everyone.
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Educational Programs
Tower hill is a co-educational independent school with 849 students from 3 years old through grade 12 in 2022-2023 (284 lower school, 235 middle school, 330 upper school). The school provides an enriched and challenging college preparatory program in which each student's abilities and talents are recognized and respected.
After School Program
The kaleidoscope after school program serves students age 3 through 6 every school day from 2:45 to 6:00PM. This program provides a continuation of the attention and guidance they receive in tower hill's classrooms, but in a more home-like setting.
Summer camp program -summer at tower hill provides exciting academic and enrichment activities, plus a full range of athletic camps in different age groups. Day camp provides weekly themes with special guests AND/OR field trips, swimming or water play. Enrichment camps broaden children's artistic and academic horizons in new ways.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $5.9M | $9.5M |
| InvestmentsLn 11–13 | $57.6M | $60.5M |
| Land, buildings, equipmentLn 10c | $37.6M | $37.8M |
| Total assetsLn 16 | $106.9M | $116.1M |
| LiabilitiesLn 26 | $16.1M | $17.0M |
| Net assetsLn 32 | $90.9M | $99.1M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic individualsLn 2 | $5.6M | $5.6M | ||
| Pay of current officers, directors and key staffLn 5 | $834K | $834K | ||
| Other salaries and wagesLn 7 | $12.5M | $9.6M | $2.1M | $720K |
| Pension plan contributionsLn 8 | $731K | $587K | $104K | $40K |
| Other employee benefitsLn 9 | $1.3M | $923K | $273K | $101K |
| Payroll taxesLn 10 | $870K | $643K | $183K | $43K |
| Legal feesLn 11b | $68K | $68K | ||
| Accounting feesLn 11c | $252K | $252K | ||
| Other fees for servicesLn 11g | $1.7M | $1.2M | $474K | $45K |
| Advertising and promotionLn 12 | $168K | $4K | $16K | $149K |
| Information technologyLn 14 | $366K | $351K | $14K | $695 |
| OccupancyLn 16 | $1.5M | $1.4M | $55K | $3K |
| TravelLn 17 | $387K | $315K | $58K | $14K |
| InterestLn 20 | $253K | $237K | $16K | $468 |
| Depreciation, depletion and amortizationLn 22 | $1.6M | $1.6M | $62K | $3K |
| Other expenses (24a–d)Ln 24 | $1.7M | $1.0M | $542K | $138K |
| Total functional expensesLn 25 | $29.9M | $23.6M | $5.1M | $1.3M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $38.2M | $33.1M | $5.0M | $118.9M | 990 PDF |
| FY2024 | $39.2M | $31.6M | $7.7M | $109.6M | 990 PDF |
| FY2023 Viewing | $39.9M | $29.9M | $10.0M | $99.1M | 990 PDF |
| FY2022 | $33.7M | $28.8M | $4.9M | $90.9M | 990 PDF |
| FY2021 | $48.8M | $27.8M | $21.0M | $96.3M | 990 PDF |
| FY2020 | $29.3M | $27.2M | $2.2M | $73.5M | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $39,938,027 revenue, 12 lines filed
Part VI · Governance 21 of 21 board members independent, no flags
Part VIII · Statement of revenue $39,938,027 across 11 lines filed
Part IX · Statement of functional expenses $29,889,324 across 16 lines filed
Part X · Balance sheet $116,101,299 assets, 17 lines filed
Part XI · Reconciliation of net assets $99,113,634 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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