Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1938.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
70 cents of each dollar spent went to programs.
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
29 people listed on the 990; $1.1M paid to officers and key staff.
Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Head of School
$323,306Pt VII · Sec A
Assistant Head for Finance and Operations
$166,564Pt VII · Sec A
Assistant Head for Academic Affairs
$147,620Pt VII · Sec A
Assistant Head for Student Affairs
$145,601Pt VII · Sec A
Director of Technology
$122,535Pt VII · Sec A
Director of the Annual Fund
$118,138Pt VII · Sec A
Director of Athletics
$116,794Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Adam Holden’s $323K as Head of School is at the 69th 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
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Adam Holden | $323,306 | $316,502 | $90,087 | — | — | — |
| Brendan O'Shea | — | — | — | $319,034 | $303,356 | $312,423 |
| Carol Meyers | — | — | $295,071 | $232,693 | — | — |
| Julie Ricciardi | — | $191,465 | $183,626 | $176,552 | $154,399 | $151,912 |
| Michelle Lammon | $166,564 | $163,236 | $154,932 | $124,051 | — | — |
| Sarah H Woods | — | — | — | — | $165,902 | $158,671 |
| Patricia Sasser | $147,620 | $143,647 | — | — | — | — |
| Matthew Olesnevich | $145,601 | — | — | — | — | — |
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 girls in grades 9-12 for college and personal achievement.
Questions for Saint Marys School
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Provided by the organization
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3 programs · $15.0M · in their own filed words · FY2024
01
Educational activities provide support for around 300 students including a boarding program for students and faculty who opt for it alongside additional services to enhance academic success.
$15.0Mprogram expense
02
N a
Pt IX · col B
03
N a
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 · received and paid
Grants received · FY2024
Fidelity Investments Charitable Gift FundFY2024$577K
Lettie Pate Whitehead Foundation INCFY2024$145K
Donor Advised Charitable Giving INCFY2024$130K
North Carolina Community Foundation INCFY2024$110K
Vanguard Charitable Endowment ProgramFY2024$59K
Triangle Community Foundation INCFY2024$49K
National Philanthropic TrustFY2024$40K
Total grants receivedfrom 15 funders$1.2M
Grants paid · 18 grants · $16.2M · 2019–2024
Unitemized GrantFY2024$1,732,675
Unitemized GrantFY2024$983,125
Unitemized GrantFY2024$132,000
Unitemized GrantFY2023$1,843,538
Unitemized GrantFY2023$746,400
Unitemized GrantFY2023$81,375
Unitemized GrantFY2022$1,828,950
Unitemized GrantFY2022$663,800
Unitemized GrantFY2022$63,200
Unitemized GrantFY2021$1,861,100
Unitemized GrantFY2021$470,800
Unitemized GrantFY2021$68,400
Unitemized GrantFY2020$2,463,275
Unitemized GrantFY2020$487,800
Unitemized GrantFY2020$60,800
Unitemized GrantFY2019$2,157,529
Unitemized GrantFY2019$453,215
Unitemized GrantFY2019$71,289
By the numbers
The FY2025 990, line by line.
Download 990
1The main four
Money inPt VIII
$25.2M
Ln 12
Fees for servicesLn 2g$15.3M
Gifts and grantsLn 1h$7.9M
Investment incomeLn 3$1.9M
Money outPt IX
$21.6M
Ln 25
Programscol B$15.0M
Managementcol C$5.4M
Fundraisingcol D$1.2M
Owns and owesPt X
$87.1M
net assets · Ln 32
Cash and savingsLn 1–2$4.0M
Total assetsLn 16$95.6M
LiabilitiesLn 26$8.5M
PeoplePt VI, VII
29
listed · VII A
PaidVII A7
Voting boardVI 1a22
IndependentVI 1b22
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.9M
Government grantsLn 1e$0
Noncash giftsLn 1g$820K
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$15.3M
Investment incomeLn 3$1.9M
Other incomeLn 4–11$70K
Gains on assetsLn 7$464K
Total revenueLn 12$25.2M
Assets in detailPt X, end of year
CashLn 1$3K
SavingsLn 2$4.0M
Cash and savings togetherLn 1–2$4.0M
InvestmentsLn 11–13$51.1M
Land, buildings, equipmentLn 10c$35.5M
Other assetsLn 15$1.1M
Total assetsLn 16$95.6M
LiabilitiesLn 26$8.5M
Net assetsLn 32$87.1M
OperationsPt I, VI
EmployeesI 5205
VolunteersI 6400
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
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $4.2M | $4.0M |
| InvestmentsLn 11–13 | $57.8M | $51.1M |
| Land, buildings, equipmentLn 10c | $27.7M | $35.5M |
| Total assetsLn 16 | $94.7M | $95.6M |
| LiabilitiesLn 26 | $14.4M | $8.5M |
| Net assetsLn 32 | $80.3M | $87.1M |
4Every line
Statement of functional expensesPt IX · every line
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $0 | $0 | ||
| Grants to domestic individualsLn 2 | $2.8M | $2.8M | ||
| Grants and assistance to foreign recipientsLn 3 | $461K | $461K | ||
| Benefits paid to or for membersLn 4 | $0 | $0 | ||
| Pay of current officers, directors and key staffLn 5 | $744K | $0 | $744K | $0 |
| Pay of disqualified personsLn 6 | $0 | $0 | $0 | $0 |
| Other salaries and wagesLn 7 | $7.5M | $4.9M | $1.9M | $610K |
| Pension plan contributionsLn 8 | $311K | $239K | $48K | $24K |
| Other employee benefitsLn 9 | $1.0M | $697K | $244K | $96K |
| Payroll taxesLn 10 | $592K | $367K | $180K | $46K |
| Management feesLn 11a | $0 | $0 | $0 | $0 |
| Legal feesLn 11b | $51K | $20K | $30K | $0 |
| Accounting feesLn 11c | $111K | $44K | $66K | $0 |
| Lobbying feesLn 11d | $0 | $0 | $0 | $0 |
| Professional fundraising feesLn 11e | $0 | $0 | ||
| Investment management feesLn 11f | $155K | $0 | $155K | $0 |
| Other fees for servicesLn 11g | $460K | $280K | $104K | $76K |
| Advertising and promotionLn 12 | $231K | $157K | $61K | $12K |
| Office expensesLn 13 | $904K | $247K | $579K | $78K |
| Information technologyLn 14 | $593K | $501K | $52K | $40K |
| RoyaltiesLn 15 | $0 | $0 | $0 | $0 |
| OccupancyLn 16 | $834K | $750K | $83K | $0 |
| TravelLn 17 | $107K | $94K | $5K | $8K |
| Travel and entertainment for public officialsLn 18 | $0 | $0 | $0 | $0 |
| Conferences, conventions and meetingsLn 19 | $52K | $41K | $9K | $2K |
| InterestLn 20 | $273K | $0 | $273K | $0 |
| Payments to affiliatesLn 21 | $0 | $0 | $0 | $0 |
| Depreciation, depletion and amortizationLn 22 | $1.3M | $1.2M | $130K | $0 |
| InsuranceLn 23 | $0 | $0 | $0 | $0 |
| Other expenses (24a–d)Ln 24 | $3.0M | $2.2M | $610K | $169K |
| All other expensesLn 24e | $79K | $17K | $56K | $6K |
| Total functional expensesLn 25 | $21.6M | $15.0M | $5.4M | $1.2M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $25.2M | $21.6M | $3.6M | $87.1M | 990 PDF |
| FY2024 | $23.3M | $21.3M | $2.0M | $80.3M | 990 PDF |
| FY2023 | $19.9M | $20.9M | −$935K | $76.1M | 990 PDF |
| FY2022 | $36.0M | $18.8M | $17.2M | $74.7M | 990 PDF |
| FY2021 | $23.1M | $18.5M | $4.6M | $62.0M | 990 PDF |
| FY2020 | $21.7M | $17.6M | $4.1M | $51.8M | 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 FY2025 990 (6 parts)
Part I · Summary $25,163,210 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,143,406$7,863,455
I-9 Program service revenuePrior year $14,695,444$15,289,160
I-10 Investment incomePrior year $2,815,612$1,941,070
I-11 Other revenuePrior year $662,206$69,525
I-12 Total revenuePrior year $23,316,668$25,163,210
I-13 Grants and similar amounts paidPrior year $3,122,538$3,308,785
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $9,937,434$10,144,428
I-16a Professional fundraising feesPrior year $23,110$0
I-17 Other expensesPrior year $8,255,928$8,131,937
I-18 Total expensesPrior year $21,339,010$21,585,150
I-19 Revenue less expensesPrior year $1,977,658$3,578,060
Part VI · Governance 22 of 22 board members independent, no flags
VI-1a Voting members of the governing body22
VI-1b Independent voting members22
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 $25,163,210 across 16 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$7,863,455
VIII-1g Noncash contributions (included above)$819,821
VIII-1h Total contributions, gifts and grants$7,863,455
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $14,981,563 · Unrelated business $347,010 · Excluded from tax −$39,413$15,289,160
VIII-3 Investment incomeRelated to mission $1,477,211 · Unrelated business $0 · Excluded from tax $0$1,477,211
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $463,859$463,859
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $69,525 · Unrelated business $0 · Excluded from tax $0$69,525
VIII-12 Total revenueRelated to mission $16,528,299 · Unrelated business $347,010 · Excluded from tax $424,446$25,163,210
Part IX · Statement of functional expenses $21,585,150 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $2,847,800$2,847,800
IX-3 Grants and assistance to foreign recipientsPrograms $460,985$460,985
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $0 · Management $743,632 · Fundraising $0$743,632
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $4,904,583 · Management $1,945,970 · Fundraising $609,765$7,460,318
IX-8 Pension plan contributionsPrograms $239,069 · Management $48,047 · Fundraising $23,907$311,023
IX-9 Other employee benefitsPrograms $696,836 · Management $244,120 · Fundraising $96,485$1,037,441
IX-10 Payroll taxesPrograms $366,771 · Management $179,574 · Fundraising $45,669$592,014
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $20,208 · Management $30,313 · Fundraising $0$50,521
IX-11c Accounting feesPrograms $44,266 · Management $66,398 · Fundraising $0$110,664
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $155,090 · Fundraising $0$155,090
IX-11g Other fees for servicesPrograms $279,706 · Management $104,428 · Fundraising $75,761$459,895
IX-12 Advertising and promotionPrograms $156,810 · Management $61,320 · Fundraising $12,421$230,550
IX-13 Office expensesPrograms $246,716 · Management $579,087 · Fundraising $77,728$903,531
IX-14 Information technologyPrograms $500,637 · Management $51,918 · Fundraising $40,018$592,573
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $750,485 · Management $83,387 · Fundraising $0$833,872
IX-17 TravelPrograms $94,055 · Management $4,696 · Fundraising $8,063$106,814
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $40,572 · Management $9,118 · Fundraising $2,181$51,871
IX-20 InterestPrograms $0 · Management $273,414 · Fundraising $0$273,414
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $1,170,859 · Management $130,095 · Fundraising $0$1,300,954
IX-23 InsurancePrograms $0 · Management $0 · Fundraising $0$0
IX-24 Other expenses (24a–d)Programs $2,204,640 · Management $609,601 · Fundraising $168,951$2,983,191
IX-24e All other expensesPrograms $16,720 · Management $55,832 · Fundraising $6,444$78,997
IX-25 Total functional expensesPrograms $15,041,718 · Management $5,376,040 · Fundraising $1,167,393$21,585,150
Part X · Balance sheet $95,583,045 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $1,420$3,330
X-2 Savings and temporary cash investmentsStart of year $4,233,658$3,950,315
X-3 Pledges and grants receivableStart of year $2,846,871$3,054,662
X-4 Accounts receivableStart of year $125,743$206,178
X-8 Inventories for sale or useStart of year $50,049$25,230
X-9 Prepaid expenses and deferred chargesStart of year $349,147$642,581
X-10c Land, buildings and equipment, netStart of year $27,744,428$35,522,298
X-11 Publicly traded securitiesStart of year $56,995,044$50,113,477
X-12 Other securitiesStart of year $756,152$946,980
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $1,583,298$1,117,994
X-16 Total assetsStart of year $94,685,810$95,583,045
X-17 Accounts payable and accrued expensesStart of year $295,676$791,462
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $620,406$301,350
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $5,164,492$5,319,974
X-26 Total liabilitiesStart of year $14,426,346$8,461,983
X-27 Net assets without donor restrictionsStart of year $21,172,038$29,180,007
X-28 Net assets with donor restrictionsStart of year $59,087,426$57,941,055
X-32 Total net assets or fund balancesStart of year $80,259,464$87,121,062
X-33 Total liabilities and net assetsStart of year $94,685,810$95,583,045
Part XI · Reconciliation of net assets $87,121,062 net assets at year end
XI-1 Total revenue$25,163,210
XI-2 Total expenses$21,585,150
XI-3 Revenue less expenses$3,578,060
XI-4 Net assets at start of year$80,259,464
XI-5 Net unrealized gains (losses) on investments$3,214,133
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$69,405
XI-10 Net assets at end of year$87,121,062
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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