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McDonogh School Incorporated FY2020 filing

Tax-deductible

Owings Mills, MD501(c)(3)Since 1873Education EIN 52-6001577Revenue $83.4M in FY2020

On file with the IRSmcdonogh.org8600 McDonogh Rd, 21117-1009 · Owings Mills, MDTax-exempt since May 1977School — 170(b)(1)(A)(ii)

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Situated on a beautiful 800-acre campus in owings mills MD, McDonogh School is a coeducational, college preparatory, independent prekindergarten through 12 School with an optional five-day boarding program for students in grades 9-12. McDonogh School is a community that finds joy in work, in play, in discovery, and in the realization of personal potential. Strong, mutually respectful relationships inspire a passion for teaching and learning, a dedication to personal integrity, and a commitment to excellence. Embracing diversity of background, culture, and thought, the School builds upon its founder's original mission to provide life-altering opportunities and to develop in students the will "to DO the greatest possible amount of good."

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
$1.8M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · 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 $14.7M a year · 18% 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
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.8M
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
6 mo
of spending, in cash
Plus $106.5M in investments, Pt X · Ln 11–13
Looks good: 6.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $153K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$68.2M
25% of total assets
Looks good: liabilities are 25% of assets; 50% or less.
Pt X · Ln 26
Independent board members
30
of 32 voting members
Looks good: 30 of 32 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$83.4M
Spent
$59.0M
To programs
80%
Net assets
$199.3M
By yearFY2020–FY2025
Revenue
$83.4M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$83.4M
FY2021$66.4M
FY2022$75.8M
FY2023$75.3M
FY2024$77.9M
FY2025$99.3M
Expenses
$59.0M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$59.0M
FY2021$59.3M
FY2022$63.8M
FY2023$67.1M
FY2024$69.3M
FY2025$71.5M
Net assets
$199.3M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$199.3M
FY2021$231.1M
FY2022$222.3M
FY2023$238.6M
FY2024$258.0M
FY2025$275.4M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 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 1977.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $47.1M Management & general 15% · $8.9M Fundraising 5% · $3.0M

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

41 people listed on the 990; $1.8M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
David J Farace
Head of School
$481,328Pt VII · Sec A
Charles W Britton
Donor & Alumni Rel. Liaison (former)
$255,768Pt VII · Sec A
Sherri Voelkel
Chief Financial Officer
$211,662Pt VII · Sec A
Kerry Johnston
Director of Development
$165,166Pt VII · Sec A
Darren Ford
Head of Middle School
$141,980Pt VII · Sec A
Eunice Deegan
Co-Director of Athletics
$133,356Pt VII · Sec A
Merritt a Livermore
Head of Upper School
$130,185Pt VII · Sec A
Cecilia Millar
Upper School Teacher
$129,821Pt VII · Sec A

David J Farace’s $507K as Head of School is at the 89th 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
David J Farace$507,355$495,341$485,684$473,825$489,180$481,328
Charles W Britton—————$255,768
Kathryn Mueller$253,655$244,845$235,351$225,411$249,729—
Sherri Voelkel$244,423$235,876$228,415$221,574$222,158$211,662
Kerry Johnston$189,421$182,170$180,343$168,111$166,911$165,166
Jack Hardcastle$176,516$169,776$154,345———
Merritt a Livermore$155,713$146,741$139,903$135,359$133,672$130,185
Eunice Deegan$136,632$145,516$142,680$138,592$134,464$133,356

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

Inspires a passion for learning, growth, and excellence through exceptional education.

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1 program · $47.1M · in their own filed words · FY2019
01

Mcdonogh school is a highly regarded coeducational, independent school with approximately 1,400 students in pre-kindergarten through twelfth grade. An optional five-day boarding program is available for students in grades 9-12. Mcdonogh's academic program is designed to foster a love of learning.

$47.1Mprogram 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
T Rowe Price Program for Charitable Giving INCFY2025$133K
Nancy Glazer Dickman Family Foundation INCFY2025$10K
The Blavatt Glazer Cogan Foundation INCFY2025$10K
Strauss Foundation INCFY2025$600
Total grants receivedfrom 4 funders$153K
See all 4 funders →
Grants paid · 6 grants · $44.0M · 2019–2024
Unitemized GrantFY2024$7,936,825
Unitemized GrantFY2023$7,601,261
Unitemized GrantFY2022$7,172,926
Unitemized GrantFY2021$7,176,223
Unitemized GrantFY2020$7,471,280
Unitemized GrantFY2019$6,599,750

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$83.4M
Ln 12
Fees for servicesLn 2g$48.1M
Gifts and grantsLn 1h$29.4M
Investment incomeLn 3$4.8M
Money outPt IX
$59.0M
Ln 25
Programscol B$47.1M
Managementcol C$8.9M
Fundraisingcol D$3.0M
Owns and owesPt X
$199.3M
net assets · Ln 32
Cash and savingsLn 1–2$30.9M
Total assetsLn 16$267.5M
LiabilitiesLn 26$68.2M
PeoplePt VI, VII
41
listed · VII A
PaidVII A10
Voting boardVI 1a32
IndependentVI 1b30
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$29.4M
Noncash giftsLn 1g$4.5M
Fundraising eventsLn 1c$74K
Fees for servicesLn 2g$48.1M
Investment incomeLn 3$4.8M
Other incomeLn 4–11$1.1M
Gains on assetsLn 7$3.0M
Total revenueLn 12$83.4M
Assets in detailPt X, end of year
CashLn 1$3.4M
SavingsLn 2$27.5M
Cash and savings togetherLn 1–2$30.9M
InvestmentsLn 11–13$106.5M
Land, buildings, equipmentLn 10c$102.9M
Other assetsLn 15$10.8M
Total assetsLn 16$267.5M
LiabilitiesLn 26$68.2M
Net assetsLn 32$199.3M
OperationsPt I, VI
EmployeesI 51,010
VolunteersI 6275
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 FY20End FY20
Cash and savingsLn 1–2$10.9M$30.9M
InvestmentsLn 11–13$111.1M$106.5M
Land, buildings, equipmentLn 10c$89.4M$102.9M
Total assetsLn 16$230.2M$267.5M
LiabilitiesLn 26$49.7M$68.2M
Net assetsLn 32$180.5M$199.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$6.6M$6.6M
Pay of current officers, directors and key staffLn 5$1.1M$629K$490K
Other salaries and wagesLn 7$25.0M$21.9M$2.1M$978K
Pension plan contributionsLn 8$1.2M$1.0M$149K$61K
Other employee benefitsLn 9$6.2M$4.9M$990K$363K
Payroll taxesLn 10$1.8M$1.5M$217K$78K
Legal feesLn 11b$166K$166K
Accounting feesLn 11c$257K$257K
Professional fundraising feesLn 11e$40K$40K
Investment management feesLn 11f$57K$57K
Other fees for servicesLn 11g$249K$234K$15K
Advertising and promotionLn 12$113K$85K$28K
Office expensesLn 13$249K$146K$102K$1K
Information technologyLn 14$680K$99K$581K
OccupancyLn 16$2.9M$2.4M$442K$152K
TravelLn 17$97K$43K$39K$15K
InterestLn 20$1.4M$1.4M
Depreciation, depletion and amortizationLn 22$3.9M$3.1M$590K$204K
InsuranceLn 23$481K$118K$364K
Other expenses (24a–d)Ln 24$3.1M$2.8M$261K$89K
All other expensesLn 24e$3.3M$2.2M$585K$509K
Total functional expensesLn 25$59.0M$47.1M$8.9M$3.0M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $99.3M$71.5M$27.8M$275.4M 990 PDF
FY2024 $77.9M$69.3M$8.7M$258.0M 990 PDF
FY2023 $75.3M$67.1M$8.2M$238.6M 990 PDF
FY2022 $75.8M$63.8M$11.9M$222.3M 990 PDF
FY2021 $66.4M$59.3M$7.1M$231.1M 990 PDF
FY2020 Viewing $83.4M$59.0M$24.3M$199.3M 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 M · Noncash J · Pay O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $83,365,139 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $12,271,978$29,353,347
I-9 Program service revenuePrior year $47,184,730$48,063,614
I-10 Investment incomePrior year $10,251,023$4,805,777
I-11 Other revenuePrior year $750,512$1,142,401
I-12 Total revenuePrior year $70,458,243$83,365,139
I-13 Grants and similar amounts paidPrior year $6,505,244$6,599,750
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $34,886,392$35,352,223
I-16a Professional fundraising feesPrior year $73,751$40,276
I-17 Other expensesPrior year $17,520,299$17,042,577
I-18 Total expensesPrior year $58,985,686$59,034,826
I-19 Revenue less expensesPrior year $11,472,557$24,330,313
Part VI · Governance 30 of 32 board members independent, no flags
VI-1a Voting members of the governing body32
VI-1b Independent voting members30
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 $83,365,139 across 13 lines filed
Lines not itemized here account for $334,868 of total revenue; see the IRS return.
VIII-1c Fundraising events$74,382
VIII-1d Related organizations$142,294
VIII-1f All other contributions, gifts and grants$29,136,671
VIII-1g Noncash contributions (included above)$4,457,199
VIII-1h Total contributions, gifts and grants$29,353,347
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $47,948,269$47,948,269
VIII-3 Investment incomeUnrelated business $35,918 · Excluded from tax $1,704,424$1,740,342
VIII-5 RoyaltiesExcluded from tax $108,959$108,959
VIII-6 Net rental income or lossExcluded from tax $241,902$241,902
VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,973,498$2,973,498
VIII-8 Net income from fundraising eventsExcluded from tax −$50,910−$50,910
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $714,864$714,864
VIII-12 Total revenueRelated to mission $48,063,614 · Unrelated business $35,918 · Excluded from tax $5,912,260$83,365,139
Part IX · Statement of functional expenses $59,034,826 across 21 lines filed
IX-2 Grants to domestic individualsPrograms $6,599,750$6,599,750
IX-5 Pay of current officers, directors and key staffManagement $629,216 · Fundraising $490,024$1,119,240
IX-7 Other salaries and wagesPrograms $21,922,486 · Management $2,085,402 · Fundraising $977,693$24,985,581
IX-8 Pension plan contributionsPrograms $1,027,964 · Management $149,185 · Fundraising $60,825$1,237,974
IX-9 Other employee benefitsPrograms $4,853,017 · Management $990,323 · Fundraising $362,513$6,205,853
IX-10 Payroll taxesPrograms $1,508,235 · Management $217,110 · Fundraising $78,230$1,803,575
IX-11b Legal feesManagement $166,004$166,004
IX-11c Accounting feesManagement $257,092$257,092
IX-11e Professional fundraising feesFundraising $40,276$40,276
IX-11f Investment management feesManagement $57,086$57,086
IX-11g Other fees for servicesPrograms $233,704 · Management $15,265$248,969
IX-12 Advertising and promotionPrograms $84,524 · Management $27,978$112,502
IX-13 Office expensesPrograms $146,123 · Management $101,775 · Fundraising $1,001$248,899
IX-14 Information technologyPrograms $98,833 · Management $580,985$679,818
IX-16 OccupancyPrograms $2,356,043 · Management $441,737 · Fundraising $152,168$2,949,948
IX-17 TravelPrograms $42,788 · Management $39,069 · Fundraising $14,830$96,687
IX-20 InterestManagement $1,358,462$1,358,462
IX-22 Depreciation, depletion and amortizationPrograms $3,131,593 · Management $590,127 · Fundraising $203,699$3,925,419
IX-23 InsurancePrograms $117,766 · Management $363,577$481,343
IX-24 Other expenses (24a–d)Programs $2,790,721 · Management $261,468 · Fundraising $88,868$3,141,057
IX-24e All other expensesPrograms $2,224,585 · Management $585,375 · Fundraising $509,331$3,319,291
IX-25 Total functional expensesPrograms $47,138,132 · Management $8,917,236 · Fundraising $2,979,458$59,034,826
Part X · Balance sheet $267,537,945 assets, 21 lines filed
Asset lines not itemized here account for $255,826; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $5,781,522$3,410,967
X-2 Savings and temporary cash investmentsStart of year $5,126,401$27,485,299
X-3 Pledges and grants receivableStart of year $4,979,320$14,667,778
X-4 Accounts receivableStart of year $445,029$285,634
X-8 Inventories for sale or useStart of year $154,390$167,279
X-9 Prepaid expenses and deferred chargesStart of year $1,443,540$1,081,382
X-10c Land, buildings and equipment, netStart of year $89,352,847$102,857,981
X-11 Publicly traded securitiesStart of year $103,296,040$98,227,880
X-12 Other securitiesStart of year $7,758,648$8,300,922
X-15 Other assetsStart of year $11,392,446$10,796,997
X-16 Total assetsStart of year $230,223,914$267,537,945
X-17 Accounts payable and accrued expensesStart of year $2,562,717$2,235,331
X-18 Grants payable$4,200,000
X-19 Deferred revenueStart of year $9,333,562$7,246,072
X-20 Tax-exempt bond liabilitiesStart of year $37,451,692$51,001,758
X-25 Other liabilitiesStart of year $340,160$3,514,532
X-26 Total liabilitiesStart of year $49,688,131$68,197,693
X-27 Net assets without donor restrictionsStart of year $94,931,128$92,998,130
X-28 Net assets with donor restrictionsStart of year $85,604,655$106,342,122
X-32 Total net assets or fund balancesStart of year $180,535,783$199,340,252
X-33 Total liabilities and net assetsStart of year $230,223,914$267,537,945
Part XI · Reconciliation of net assets $199,340,252 net assets at year end
XI-1 Total revenue$83,365,139
XI-2 Total expenses$59,034,826
XI-3 Revenue less expenses$24,330,313
XI-4 Net assets at start of year$180,535,783
XI-5 Net unrealized gains (losses) on investments−$5,548,348
XI-6 Donated services and use of facilities$290,810
XI-9 Other changes in net assets−$268,306
XI-10 Net assets at end of year$199,340,252

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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