Concord Hill School FY2024 filing

Tax-deductible

Chevy Chase, MD501(c)(3)Since 1965EducationEIN 52-0815539Revenue $4.9M in FY2024

On file with the IRSconcordhill.org6050 Wisconsin Ave, 20815-5404 · Chevy Chase, MDTax-exempt since Nov 1965School — 170(b)(1)(A)(ii)

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Concord Hill School values and cultivates children's curiosity in the early years of development. Through a dynamic program rooted in nurturing relationships, Concord Hill inspires the personal and academic growth of a community of lifelong learners.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
$186K 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $286K a year · 7% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$186K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.7M
24% of total assets
Looks good: liabilities are 24% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.9M
+19% vs prior year
Spent
$4.2M
To programs
85%
Net assets
$5.5M
By yearFY2021–FY2024
Revenue
$4.9M
FY2024▲ +19%
Tap a bar for its year
Revenue by fiscal year
FY2021$3.6M
FY2022$3.9M
FY2023$4.1M
FY2024$4.9M
FY2024$4.5M
Expenses
$4.2M
FY2024▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2021$3.5M
FY2022$3.6M
FY2023$4.0M
FY2024$4.2M
FY2024$4.3M
Net assets
$5.5M
FY2024▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2021$5.0M
FY2022$4.9M
FY2023$5.2M
FY2024$5.5M
FY2024$5.9M

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 (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1965.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $3.6M Management & general 11% · $475K Fundraising 4% · $172K

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

16 people listed on the 990; $186K 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
$185,506Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Michelle Farkas’s $192K as Head of School (as of 07/24) is at the 80th percentile of top reported officer pay among 3395 $1–10M 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 · 5 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021
Michelle Farkas$192,432————
Nate Dennison$109,500$185,506$178,371$174,083$173,269
Stephanie Folarin$114,336————
Susan Arzt——$20,442$107,751$110,449
Erin Kaufman$101,268————

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 Concord Hill 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

Programs and updates

Educates young children from age 3 through 3rd grade.

Questions for Concord Hill School

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Provided by the organization

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1 program · $3.6M · in their own filed words · FY2023
01

Our curriculum is both academically challenging and developmentally appropriate for the age and maturity of our students. The integrated curriculum at concord hill incorporates mathematics, language arts, and social studies into every class.

$3.6Mprogram 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 1 funder$5K
Grants paid · 9 grants · $2.0M · 2020–2024
Unitemized GrantFY2024$274,425
Unitemized GrantFY2024$184,600
Unitemized GrantFY2023$269,250
Unitemized GrantFY2023$219,550
Unitemized GrantFY2022$225,750
Unitemized GrantFY2022$219,670
Unitemized GrantFY2021$243,497
Unitemized GrantFY2021$162,300
Unitemized GrantFY2020$221,650

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$4.9M
Ln 12
Fees for servicesLn 2g$3.7M
Investment incomeLn 3$806K
Gifts and grantsLn 1h$235K
Money outPt IX
$4.2M
Ln 25
Programscol B$3.6M
Managementcol C$475K
Fundraisingcol D$172K
Owns and owesPt X
$5.5M
net assets · Ln 32
Cash and savingsLn 1–2$1.9M
Total assetsLn 16$7.2M
LiabilitiesLn 26$1.7M
PeoplePt VI, VII
16
listed · VII A
PaidVII A1
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$235K
Fees for servicesLn 2g$3.7M
Investment incomeLn 3$806K
Other incomeLn 4–11$142K
Gains on assetsLn 7$728K
Total revenueLn 12$4.9M
Assets in detailPt X, end of year
CashLn 1$1.9M
Cash and savings togetherLn 1–2$1.9M
InvestmentsLn 11–13$3.7M
Land, buildings, equipmentLn 10c$1.5M
Total assetsLn 16$7.2M
LiabilitiesLn 26$1.7M
Net assetsLn 32$5.5M
OperationsPt I, VI
EmployeesI 545
VolunteersI 615
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 FY24End FY24
Cash and savingsLn 1–2$1.8M$1.9M
InvestmentsLn 11–13$3.5M$3.7M
Land, buildings, equipmentLn 10c$1.6M$1.5M
Total assetsLn 16$6.9M$7.2M
LiabilitiesLn 26$1.7M$1.7M
Net assetsLn 32$5.2M$5.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$489K$489K
Pay of current officers, directors and key staffLn 5$204K$170K$26K$8K
Other salaries and wagesLn 7$2.4M$2.0M$311K$89K
Pension plan contributionsLn 8$73K$61K$11K$729
Payroll taxesLn 10$185K$158K$25K$2K
Investment management feesLn 11f$11K$11K
Other fees for servicesLn 11g$32K$4K$13K$15K
Office expensesLn 13$76K$32K$30K$14K
Information technologyLn 14$38K$35K$2K$2K
OccupancyLn 16$45K$37K$5K$3K
Depreciation, depletion and amortizationLn 22$97K$92K$4K$972
InsuranceLn 23$197K$169K$28K$393
Other expenses (24a–d)Ln 24$344K$331K$9K$3K
All other expensesLn 24e$47K$12K$9$34K
Total functional expensesLn 25$4.2M$3.6M$475K$172K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $4.9M$4.2M$650K$5.5M 990 PDF
FY2023 $4.1M$4.0M$94K$5.2M 990 PDF
FY2022 $3.9M$3.6M$309K$4.9M 990 PDF
FY2021 $3.6M$3.5M$93K$5.0M 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 FY2024 990 (6 parts)
Part I · Summary $4,882,274 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $422,070$234,769
I-9 Program service revenuePrior year $3,423,480$3,699,739
I-10 Investment incomePrior year $47,484$806,223
I-11 Other revenuePrior year $196,390$141,543
I-12 Total revenuePrior year $4,089,424$4,882,274
I-13 Grants and similar amounts paidPrior year $445,420$488,800
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,701,946$2,856,272
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $848,001$887,225
I-18 Total expensesPrior year $3,995,367$4,232,297
I-19 Revenue less expensesPrior year $94,057$649,977
Part VI · Governance 15 of 15 board members independent, no flags
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
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 $4,882,274 across 8 lines filed
VIII-1f All other contributions, gifts and grants$234,769
VIII-1h Total contributions, gifts and grants$234,769
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,699,739$3,699,739
VIII-3 Investment incomeExcluded from tax $78,395$78,395
VIII-7 Net gain or loss on sales of assetsExcluded from tax $727,828$727,828
VIII-8 Net income from fundraising eventsExcluded from tax $131,049$131,049
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $10,494$10,494
VIII-12 Total revenueRelated to mission $3,699,739 · Unrelated business $0 · Excluded from tax $947,766$4,882,274
Part IX · Statement of functional expenses $4,232,297 across 14 lines filed
IX-2 Grants to domestic individualsPrograms $488,800$488,800
IX-5 Pay of current officers, directors and key staffPrograms $170,026 · Management $26,482 · Fundraising $7,605$204,113
IX-7 Other salaries and wagesPrograms $1,994,129 · Management $310,591 · Fundraising $89,192$2,393,912
IX-8 Pension plan contributionsPrograms $61,238 · Management $10,935 · Fundraising $729$72,902
IX-10 Payroll taxesPrograms $158,100 · Management $25,392 · Fundraising $1,853$185,345
IX-11f Investment management feesManagement $11,301$11,301
IX-11g Other fees for servicesPrograms $4,488 · Management $12,824 · Fundraising $14,748$32,060
IX-13 Office expensesPrograms $31,973 · Management $29,764 · Fundraising $14,350$76,087
IX-14 Information technologyPrograms $34,525 · Management $2,302 · Fundraising $1,534$38,361
IX-16 OccupancyPrograms $37,444 · Management $4,748 · Fundraising $3,165$45,357
IX-22 Depreciation, depletion and amortizationPrograms $92,307 · Management $3,887 · Fundraising $972$97,166
IX-23 InsurancePrograms $168,705 · Management $27,550 · Fundraising $393$196,648
IX-24 Other expenses (24a–d)Programs $331,013 · Management $9,426 · Fundraising $3,107$343,546
IX-24e All other expensesPrograms $12,362 · Management $9 · Fundraising $34,328$46,699
IX-25 Total functional expensesPrograms $3,585,110 · Management $475,211 · Fundraising $171,976$4,232,297
Part X · Balance sheet $7,186,243 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $1,767,100$1,931,459
X-3 Pledges and grants receivableStart of year $5,000$0
X-4 Accounts receivableStart of year $3,531$0
X-9 Prepaid expenses and deferred chargesStart of year $39,392$17,643
X-10c Land, buildings and equipment, netStart of year $1,580,556$1,516,369
X-11 Publicly traded securitiesStart of year $5,870$0
X-12 Other securitiesStart of year $3,515,491$3,720,772
X-16 Total assetsStart of year $6,916,940$7,186,243
X-17 Accounts payable and accrued expensesStart of year $365,545$299,452
X-25 Other liabilitiesStart of year $1,313,759$1,417,156
X-26 Total liabilitiesStart of year $1,679,304$1,716,608
X-27 Net assets without donor restrictionsStart of year $5,138,937$5,351,728
X-28 Net assets with donor restrictionsStart of year $98,699$117,907
X-32 Total net assets or fund balancesStart of year $5,237,636$5,469,635
X-33 Total liabilities and net assetsStart of year $6,916,940$7,186,243
Part XI · Reconciliation of net assets $5,469,635 net assets at year end
XI-1 Total revenue$4,882,274
XI-2 Total expenses$4,232,297
XI-3 Revenue less expenses$649,977
XI-4 Net assets at start of year$5,237,636
XI-5 Net unrealized gains (losses) on investments−$417,978
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,469,635

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

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