Carlisle School FY2021 filing

Tax-deductible

Martinsville, VA501(c)(3)EducationEIN 54-0841622

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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

FY2021 · 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 · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.4 months of spending in cash; 3 or more.
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
$2.3M
37% of total assets
Looks good: liabilities are 37% of assets; 50% or less.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.4M
+14% vs prior year
Spent
$4.5M
To programs
73%
Net assets
$3.9M
By yearFY2020–FY2025
Revenue
$5.4M
FY2021▲ +14%
Revenue by fiscal year
FY2020$4.8M
FY2021$5.4M
FY2022$5.1M
FY2023$4.3M
FY2024$4.8M
FY2025$4.5M
Expenses
$4.5M
FY2021▼ -16%
Expenses by fiscal year
FY2020$5.3M
FY2021$4.5M
FY2022$4.5M
FY2023$4.7M
FY2024$4.9M
FY2025$4.7M
Net assets
$3.9M
FY2021▲ +45%
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 FY2021 Form 990 (year ending June 2021) · 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% · $3.3M Management & general 27% · $1.2M

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

18 people listed on the 990; $125K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Head of School
$125,000Pt VII · Sec A
$160Pt 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.

See Carlisle 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 students from pre-school through 12th grade.

Provided by the organization

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3 programs · $3.3M · in their own filed words · FY2020
01

Day and resident school for boys and girls

$3.3Mprogram 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 FY2021 990, line by line.

1The main four
Money inPt VIII
$5.4M
Ln 12
Fees for servicesLn 2g$3.4M
Gifts and grantsLn 1h$1.7M
Other incomeLn 4–11$192K
Money outPt IX
$4.5M
Ln 25
Programscol B$3.3M
Managementcol C$1.2M
Owns and owesPt X
$3.9M
net assets · Ln 32
Cash and savingsLn 1–2$1.6M
Total assetsLn 16$6.1M
LiabilitiesLn 26$2.3M
PeoplePt VI, VII
18
listed · VII A
PaidVII A2
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.7M
Fees for servicesLn 2g$3.4M
Investment incomeLn 3$169K
Other incomeLn 4–11$192K
Gains on assetsLn 7$134K
Total revenueLn 12$5.4M
Assets in detailPt X, end of year
CashLn 1$150
SavingsLn 2$1.6M
Cash and savings togetherLn 1–2$1.6M
InvestmentsLn 11–13$1.5M
Land, buildings, equipmentLn 10c$2.8M
Total assetsLn 16$6.1M
LiabilitiesLn 26$2.3M
Net assetsLn 32$3.9M
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 FY21End FY21
Cash and savingsLn 1–2$776K$1.6M
InvestmentsLn 11–13$987K$1.5M
Land, buildings, equipmentLn 10c$3.1M$2.8M
Total assetsLn 16$5.0M$6.1M
LiabilitiesLn 26$2.4M$2.3M
Net assetsLn 32$2.7M$3.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$1.1M$1.1M
Pay of current officers, directors and key staffLn 5$125K$94K$31K
Other salaries and wagesLn 7$2.1M$1.6M$520K
Legal feesLn 11b$19K$19K
Accounting feesLn 11c$8K$8K
Investment management feesLn 11f$9K$9K
Office expensesLn 13$33K$33K
Information technologyLn 14$39K$29K$10K
OccupancyLn 16$140K$105K$35K
TravelLn 17$6K$5K$1K
InterestLn 20$46K$46K
Depreciation, depletion and amortizationLn 22$322K$322K
InsuranceLn 23$56K$42K$14K
Other expenses (24a–d)Ln 24$322K$207K$115K
All other expensesLn 24e$137K$94K$43K
Total functional expensesLn 25$4.5M$3.3M$1.2M$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 Viewing $5.4M$4.5M$967K$3.9M 990 PDF
FY2020 $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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $5,434,168 across 8 lines filed
Lines not itemized here account for $259,015 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$1,687,598
VIII-1h Total contributions, gifts and grants$1,687,598
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,186,352$3,186,352
VIII-3 Investment incomeRelated to mission $34,753$34,753
VIII-6 Net rental income or lossRelated to mission $76,198$76,198
VIII-7 Net gain or loss on sales of assetsRelated to mission $134,052$134,052
VIII-8 Net income from fundraising eventsExcluded from tax $56,200$56,200
VIII-12 Total revenueRelated to mission $3,690,370 · Unrelated business $0 · Excluded from tax $56,200$5,434,168
Part IX · Statement of functional expenses $4,467,278 across 15 lines filed
IX-2 Grants to domestic individualsPrograms $1,085,427$1,085,427
IX-5 Pay of current officers, directors and key staffPrograms $93,750 · Management $31,250$125,000
IX-7 Other salaries and wagesPrograms $1,599,639 · Management $519,655$2,119,294
IX-11b Legal feesManagement $19,330$19,330
IX-11c Accounting feesManagement $8,258$8,258
IX-11f Investment management feesManagement $8,813$8,813
IX-13 Office expensesManagement $33,421$33,421
IX-14 Information technologyPrograms $28,971 · Management $9,657$38,628
IX-16 OccupancyPrograms $105,209 · Management $35,070$140,279
IX-17 TravelPrograms $4,727 · Management $1,230$5,957
IX-20 InterestManagement $45,674$45,674
IX-22 Depreciation, depletion and amortizationManagement $322,351$322,351
IX-23 InsurancePrograms $42,246 · Management $14,082$56,328
IX-24 Other expenses (24a–d)Programs $206,555 · Management $115,227$321,782
IX-24e All other expensesPrograms $93,664 · Management $43,072$136,736
IX-25 Total functional expensesPrograms $3,260,188 · Management $1,207,090 · Fundraising $0$4,467,278
Part X · Balance sheet $6,130,143 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $150$150
X-2 Savings and temporary cash investmentsStart of year $776,207$1,649,789
X-3 Pledges and grants receivableStart of year $31,871$18,930
X-4 Accounts receivableStart of year $114,738$206,796
X-9 Prepaid expenses and deferred chargesStart of year $19,890$8,257
X-10c Land, buildings and equipment, netStart of year $3,117,845$2,759,622
X-11 Publicly traded securitiesStart of year $986,884$1,486,599
X-16 Total assetsStart of year $5,047,585$6,130,143
X-17 Accounts payable and accrued expensesStart of year $416,497$356,487
X-19 Deferred revenueStart of year $470,979$676,352
X-26 Total liabilitiesStart of year $2,378,454$2,257,101
X-27 Net assets without donor restrictionsStart of year $919,869$2,861,234
X-28 Net assets with donor restrictionsStart of year $1,749,262$1,011,808
X-32 Total net assets or fund balancesStart of year $2,669,131$3,873,042
X-33 Total liabilities and net assetsStart of year $5,047,585$6,130,143
Part XI · Reconciliation of net assets $3,873,042 net assets at year end
XI-1 Total revenue$5,434,168
XI-2 Total expenses$4,467,278
XI-3 Revenue less expenses$966,890
XI-4 Net assets at start of year$2,669,131
XI-5 Net unrealized gains (losses) on investments$237,021
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,873,042

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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