Carlisle School

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To provide private education for grade pre-School throgh grade 12

Form 990 Part I, line 1, FY2025. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 54-0841622) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
69¢ of each $1 spent went to programs.
$119K 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

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average surplus $71K a year · 1% of revenue · last 6 filings
A surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
69%
of spending
69% of spending went to programs.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$119K
to officers and key staff · 3% of spending
Pay to officers and key staff is 3% of spending.
Part VII, Section A
4.9 mo
of spending, in cash
4.9 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
10
named funders · $92K
10 funders name it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$1.8M
32% of total assets
Liabilities are 32% of assets.
Pt X · Ln 26
Independent board members
13
of 13 voting members
13 of 13 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$4.5M
-5% vs prior year
Spent
$4.7M
To programs
69%
Net assets
$3.8M
By yearFY2020–FY2025
Revenue
$4.5M
FY2025▼ -5%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.8M
FY2021$5.4M
FY2022$5.1M
FY2023$4.3M
FY2024$4.8M
FY2025$4.5M
Expenses
$4.7M
FY2025▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.3M
FY2021$4.5M
FY2022$4.5M
FY2023$4.7M
FY2024$4.9M
FY2025$4.7M
Net assets
$3.8M
FY2025▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.7M
FY2021$3.9M
FY2022$4.2M
FY2023$3.9M
FY2024$3.9M
FY2025$3.8M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1969.

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

Where the money goes

69 cents of each dollar spent went to programs.

Program services 69% · $3.2M Management & general 31% · $1.5M

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

17 people listed on the 990; $119K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation
$118,750Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Immediate Past President
$0Pt VII · Sec A
Past President
$0Pt VII · Sec A
Past President
$0Pt VII · Sec A
Past President
$0Pt VII · Sec A
$0Pt VII · Sec A

Barbara Neal Hardy-Meyer’s $119K as Head of School is at the 44th 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 · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Gracie Agnew——$125,000$125,000$125,000$124,583
Barbara Neal Hardy-Meyer$118,750$102,917————
Mary Lewis Johnston————$160$320

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 Carlisle 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

Educates students from pre-school through 12th grade.

Questions for Carlisle School

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3 programs · $3.2M · in their own filed words · FY2024
01

Day school for boys and girls

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 54-0841622) · Dispute this line
$3.2Mprogram expense
02

Need-based financial aid programs for students (non-discriminatory) scholarship service provides scholarship based on needs

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 54-0841622) · Dispute this line
Pt IX · Ln 25 · col B
03

Transportation for Students

Full bus service to and from school from martinsville and the surrounding areas

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 54-0841622) · Dispute this line
Pt IX · Ln 25 · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 10 funders →

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$4.5M
Ln 12
Fees for servicesLn 2g$3.5M
Gifts and grantsLn 1h$636K
Other incomeLn 4–11$285K
Money outPt IX
$4.7M
Ln 25
Programscol B$3.2M
Managementcol C$1.5M
Owns and owesPt X
$3.8M
net assets · Ln 32
Cash and savingsLn 1–2$1.9M
Total assetsLn 16$5.6M
LiabilitiesLn 26$1.8M
PeoplePt VI, VII
17
listed · VII A
PaidVII A1
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$636K
Fees for servicesLn 2g$3.5M
Investment incomeLn 3$123K
Other incomeLn 4–11$285K
Gains on assetsLn 7$30K
Total revenueLn 12$4.5M
Assets in detailPt X, end of year
CashLn 1$150
SavingsLn 2$1.9M
Cash and savings togetherLn 1–2$1.9M
Accounts receivableLn 4$133K
Prepaid expenses and deferred chargesLn 9$34K
Land, buildings, equipmentLn 10c$1.8M
InvestmentsLn 11–13$1.7M
Total assetsLn 16$5.6M
LiabilitiesLn 26$1.8M
Net assetsLn 32$3.8M
OperationsPt I, VI
EmployeesI 5112
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3More from this return
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$10K
Share of the $1.7M endowmentSch D 1g0.57%
Typical, median of 2,202 orgs0.44%
EndowmentSch D · Pt V
LineFY25FY24FY23FY22FY21
End of yearLn 1g$1.7M$1.5M$1.5M$1.3M$1.5M
AddedLn 1b$8K$2K$4K$54K$8K
SpentLn 1d–1f$38K$774K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$1.8M$1.9M
InvestmentsLn 11–13$1.5M$1.7M
Land, buildings, equipmentLn 10c$2.0M$1.8M
Total assetsLn 16$5.5M$5.6M
LiabilitiesLn 26$1.5M$1.8M
Net assetsLn 32$3.9M$3.8M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$738K$738K
Pay of officers and key staff (Part IX, line 5)Ln 5$119K$89K$30K
Other salaries and wagesLn 7$2.6M$1.8M$796K
Investment management feesLn 11f$10K$10K
Other fees for servicesLn 11g$26K$26K
Office expensesLn 13$40K$40K
Information technologyLn 14$46K$35K$12K
OccupancyLn 16$167K$125K$42K
TravelLn 17$25K$13K$11K
InterestLn 20$3K$3K
Depreciation, depletion and amortizationLn 22$331K$331K
InsuranceLn 23$73K$55K$18K
Other expenses (24a–d)Ln 24$387K$269K$118K
All other expensesLn 24e$133K$91K$42K
Total functional expensesLn 25$4.7M$3.2M$1.5M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest ViewingFiled with the IRS Apr 11, 2026 $4.5M$4.7M−$200K$3.8M 990 PDF
FY2024Filed with the IRS Jan 28, 2025 $4.8M$4.9M−$78K$3.9M 990 PDF
FY2023Filed with the IRS Feb 12, 2024 $4.3M$4.7M−$403K$3.9M 990 PDF
FY2022Filed with the IRS Jan 30, 2023 $5.1M$4.5M$658K$4.2M 990 PDF
FY2021Filed with the IRS May 6, 2022 $5.4M$4.5M$967K$3.9M 990 PDF
FY2020Filed with the IRS Jan 20, 2021 $4.8M$5.3M−$519K$2.7M 990 PDF

Schedules filed Part IV

A · Public support D · Assets and endowments I · Grants O · Explanations
See the full FY2025 990
Part I · Summary $4,521,145 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $767,029$636,317
I-9 Program service revenuePrior year $3,578,437$3,477,732
I-10 Investment incomePrior year $138,595$152,977
I-11 Other revenuePrior year $288,676$254,119
I-12 Total revenuePrior year $4,772,737$4,521,145
I-13 Grants and similar amounts paidPrior year $837,032$737,829
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,699,839$2,742,728
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,313,616$1,240,471
I-18 Total expensesPrior year $4,850,487$4,721,028
I-19 Revenue less expensesPrior year −$77,750−$199,883
Part VI · Governance 13 of 13 board members independent, 1 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $4,521,145 across 7 lines filed
Lines not itemized here account for $390,962 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$636,317
VIII-1h Total contributions, gifts and grants$636,317
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,198,803$3,198,803
VIII-3 Investment incomeRelated to mission $122,592$122,592
VIII-7 Net gain or loss on sales of assetsRelated to mission $30,385$30,385
VIII-8 Net income from fundraising eventsExcluded from tax $142,086$142,086
VIII-12 Total revenueRelated to mission $3,742,742 · Unrelated business $0 · Excluded from tax $142,086$4,521,145
Part IX · Statement of functional expenses $4,721,028 across 14 lines filed
IX-2 Grants to domestic individualsPrograms $737,829$737,829
IX-5 Pay of officers and key staff (Part IX, line 5)Programs $89,063 · Management $29,687$118,750
IX-7 Other salaries and wagesPrograms $1,827,643 · Management $796,335$2,623,978
IX-11f Investment management feesManagement $9,812$9,812
IX-11g Other fees for servicesManagement $25,532$25,532
IX-13 Office expensesManagement $39,572$39,572
IX-14 Information technologyPrograms $34,619 · Management $11,540$46,159
IX-16 OccupancyPrograms $125,411 · Management $41,804$167,215
IX-17 TravelPrograms $13,303 · Management $11,409$24,712
IX-20 InterestManagement $3,136$3,136
IX-22 Depreciation, depletion and amortizationManagement $331,345$331,345
IX-23 InsurancePrograms $55,016 · Management $18,339$73,355
IX-24 Other expenses (24a–d)Programs $268,741 · Management $118,196$386,937
IX-24e All other expensesPrograms $90,691 · Management $42,005$132,696
IX-25 Total functional expensesPrograms $3,242,316 · Management $1,478,712 · Fundraising $0$4,721,028
Part X · Balance sheet $5,600,390 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $152$150
X-2 Savings and temporary cash investmentsStart of year $1,831,542$1,935,375
X-4 Accounts receivableStart of year $98,259$132,790
X-9 Prepaid expenses and deferred chargesStart of year $10,886$33,931
X-10c Land, buildings and equipment, netStart of year $1,999,575$1,779,446
X-11 Publicly traded securitiesStart of year $1,535,907$1,718,698
X-16 Total assetsStart of year $5,476,321$5,600,390
X-17 Accounts payable and accrued expensesStart of year $472,021$551,753
X-19 Deferred revenueStart of year $1,004,076$1,187,138
X-23 Secured mortgages and notes payableStart of year $52,297$29,489
X-26 Total liabilitiesStart of year $1,528,394$1,768,380
X-27 Net assets without donor restrictionsStart of year $2,861,282$2,595,421
X-28 Net assets with donor restrictionsStart of year $1,086,645$1,236,589
X-32 Total net assets or fund balancesStart of year $3,947,927$3,832,010
X-33 Total liabilities and net assetsStart of year $5,476,321$5,600,390
Part XI · Reconciliation of net assets $3,832,010 net assets at year end
XI-1 Total revenue$4,521,145
XI-2 Total expenses$4,721,028
XI-3 Revenue less expenses−$199,883
XI-4 Net assets at start of year$3,947,927
XI-5 Net unrealized gains (losses) on investments$83,966
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,832,010

Form 990 e-file FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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