Carlisle School FY2020 filing

Tax-deductible

Martinsville, VA501(c)(3)EducationEIN 54-0841622Revenue $4.8M in FY2020

On file with the IRScarlisleschool.orgPo Box 5388, 24115-5388 · Martinsville, VATax-exempt since Jan 1969School — 170(b)(1)(A)(ii)

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

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
$125K 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

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
2 of 6
filings with a surplus
Average surplus $71K a year · 1% of revenue · last 6 filings
Worth a look: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$125K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
10
named funders · $92K
Looks good: 10 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$2.4M
47% of total assets
Looks good: liabilities are 47% of assets; 50% or less.
Pt X · Ln 26
Independent board members
20
of 20 voting members
Looks good: 20 of 20 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.8M
Spent
$5.3M
To programs
73%
Net assets
$2.7M
By yearFY2020–FY2025
Revenue
$4.8M
FY2020
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
$5.3M
FY2020
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
$2.7M
FY2020
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 FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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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

73 cents of each dollar spent went to programs.

Program services 73% · $3.9M Management & general 27% · $1.4M

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

19 people listed on the 990; $125K 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
Head of School
$124,583Pt VII · Sec A
$320Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$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.

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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 pre-school through 12th grade.

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Provided by the organization

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3 programs · $3.9M · in their own filed words · FY2019
01

Day and resident school for boys and girls

$3.9Mprogram expense
02

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

Pt IX · col B
03

Transportation for Students

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

Pt IX · 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 FY2020 990, line by line.

1The main four
Money inPt VIII
$4.8M
Ln 12
Fees for servicesLn 2g$4.1M
Gifts and grantsLn 1h$756K
Investment incomeLn 3$36K
Money outPt IX
$5.3M
Ln 25
Programscol B$3.9M
Managementcol C$1.4M
Owns and owesPt X
$2.7M
net assets · Ln 32
Cash and savingsLn 1–2$776K
Total assetsLn 16$5.0M
LiabilitiesLn 26$2.4M
PeoplePt VI, VII
19
listed · VII A
PaidVII A2
Voting boardVI 1a20
IndependentVI 1b20
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$756K
Fees for servicesLn 2g$4.1M
Investment incomeLn 3$36K
Gains on assetsLn 7−$366K
Total revenueLn 12$4.8M
Assets in detailPt X, end of year
CashLn 1$150
SavingsLn 2$776K
Cash and savings togetherLn 1–2$776K
InvestmentsLn 11–13$987K
Land, buildings, equipmentLn 10c$3.1M
Total assetsLn 16$5.0M
LiabilitiesLn 26$2.4M
Net assetsLn 32$2.7M
OperationsPt I, VI
EmployeesI 5112
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$536K$776K
InvestmentsLn 11–13$1.1M$987K
Land, buildings, equipmentLn 10c$3.7M$3.1M
Total assetsLn 16$5.6M$5.0M
LiabilitiesLn 26$2.5M$2.4M
Net assetsLn 32$3.2M$2.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$1.3M$1.3M
Pay of current officers, directors and key staffLn 5$125K$96K$29K
Other salaries and wagesLn 7$2.5M$1.9M$590K
Legal feesLn 11b$23K$23K
Accounting feesLn 11c$8K$8K
Investment management feesLn 11f$8K$8K
Office expensesLn 13$49K$49K
Information technologyLn 14$32K$24K$8K
OccupancyLn 16$129K$97K$32K
TravelLn 17$13K$5K$8K
InterestLn 20$62K$62K
Depreciation, depletion and amortizationLn 22$357K$357K
InsuranceLn 23$43K$32K$11K
Other expenses (24a–d)Ln 24$415K$268K$148K
All other expensesLn 24e$193K$114K$78K
Total functional expensesLn 25$5.3M$3.9M$1.4M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $4.5M$4.7M−$200K$3.8M 990 PDF
FY2024 $4.8M$4.9M−$78K$3.9M 990 PDF
FY2023 $4.3M$4.7M−$403K$3.9M 990 PDF
FY2022 $5.1M$4.5M$658K$4.2M 990 PDF
FY2021 $5.4M$4.5M$967K$3.9M 990 PDF
FY2020 Viewing $4.8M$5.3M−$519K$2.7M 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 FY2020 990 (6 parts)
Part I · Summary $4,775,311 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $610,066$755,652
I-9 Program service revenuePrior year $4,131,245$4,114,991
I-10 Investment incomePrior year $57,243−$330,245
I-11 Other revenuePrior year $295,982$234,913
I-12 Total revenuePrior year $5,094,536$4,775,311
I-13 Grants and similar amounts paidPrior year $998,296$1,314,987
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,641,920$2,647,370
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,757,000$1,331,748
I-18 Total expensesPrior year $5,397,216$5,294,105
I-19 Revenue less expensesPrior year −$302,680−$518,794
Part VI · Governance 20 of 20 board members independent, 1 to look at
VI-1a Voting members of the governing body20
VI-1b Independent voting members20
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 $4,775,311 across 8 lines filed
Lines not itemized here account for $347,347 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$755,652
VIII-1h Total contributions, gifts and grants$755,652
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,877,966$3,877,966
VIII-3 Investment incomeRelated to mission $36,001$36,001
VIII-6 Net rental income or lossRelated to mission $19,409$19,409
VIII-7 Net gain or loss on sales of assetsRelated to mission −$366,246−$366,246
VIII-8 Net income from fundraising eventsExcluded from tax $105,182$105,182
VIII-12 Total revenueRelated to mission $3,914,477 · Unrelated business $0 · Excluded from tax $105,182$4,775,311
Part IX · Statement of functional expenses $5,294,105 across 15 lines filed
IX-2 Grants to domestic individualsPrograms $1,314,987$1,314,987
IX-5 Pay of current officers, directors and key staffPrograms $96,249 · Management $28,654$124,903
IX-7 Other salaries and wagesPrograms $1,932,151 · Management $590,316$2,522,467
IX-11b Legal feesManagement $23,138$23,138
IX-11c Accounting feesManagement $7,644$7,644
IX-11f Investment management feesManagement $7,738$7,738
IX-13 Office expensesManagement $48,508$48,508
IX-14 Information technologyPrograms $23,803 · Management $7,934$31,737
IX-16 OccupancyPrograms $97,020 · Management $32,340$129,360
IX-17 TravelPrograms $5,126 · Management $8,323$13,449
IX-20 InterestManagement $62,198$62,198
IX-22 Depreciation, depletion and amortizationManagement $357,091$357,091
IX-23 InsurancePrograms $32,139 · Management $10,713$42,852
IX-24 Other expenses (24a–d)Programs $267,843 · Management $147,625$415,468
IX-24e All other expensesPrograms $114,123 · Management $78,442$192,565
IX-25 Total functional expensesPrograms $3,883,441 · Management $1,410,664 · Fundraising $0$5,294,105
Part X · Balance sheet $5,047,585 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $150$150
X-2 Savings and temporary cash investmentsStart of year $535,713$776,207
X-3 Pledges and grants receivableStart of year $182,088$31,871
X-4 Accounts receivableStart of year $98,240$114,738
X-9 Prepaid expenses and deferred chargesStart of year $27,897$19,890
X-10c Land, buildings and equipment, netStart of year $3,719,651$3,117,845
X-11 Publicly traded securitiesStart of year $1,066,566$986,884
X-16 Total assetsStart of year $5,630,305$5,047,585
X-17 Accounts payable and accrued expensesStart of year $444,975$416,497
X-19 Deferred revenueStart of year $888,698$470,979
X-26 Total liabilitiesStart of year $2,459,435$2,378,454
X-27 Net assets without donor restrictionsStart of year $1,106,108$919,869
X-28 Net assets with donor restrictionsStart of year $2,064,762$1,749,262
X-32 Total net assets or fund balancesStart of year $3,170,870$2,669,131
X-33 Total liabilities and net assetsStart of year $5,630,305$5,047,585
Part XI · Reconciliation of net assets $2,669,131 net assets at year end
XI-1 Total revenue$4,775,311
XI-2 Total expenses$5,294,105
XI-3 Revenue less expenses−$518,794
XI-4 Net assets at start of year$3,170,870
XI-5 Net unrealized gains (losses) on investments$29,066
XI-9 Other changes in net assets−$12,011
XI-10 Net assets at end of year$2,669,131

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

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