Ravenscroft School INC: Nonprofit Profile, Financials & Form 990 (EIN 56-6001583)

Revenue by fiscal year
FY2020	$33.1M
FY2021	$36.2M
FY2022	$36.4M
FY2023	$37.9M
FY2024	$41.1M
FY2024	$43.5M

Expenses by fiscal year
FY2020	$31.6M
FY2021	$33.2M
FY2022	$34.9M
FY2023	$38.7M
FY2024	$40.7M
FY2024	$42.7M

Net assets by fiscal year
FY2020	$32.8M
FY2021	$42.4M
FY2022	$41.7M
FY2023	$44.4M
FY2024	$46.6M
FY2024	$48.4M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1971.

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

Where the money goes

66 cents of each dollar spent went to programs.

66%

32%

Program services 66% · $28.2M Management & general 32% · $13.5M Fundraising 2% · $969K

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; $1.8M paid to officers and key staff.

Part VII, Section A · reportable compensation

Doreen C Kelly

Former Head of School

$566,993Pt VII · Sec A

Gregory S Hodges

Cfoo

$241,840Pt VII · Sec A

Derrick D Willard

Head of School

$226,811Pt VII · Sec A

Edward J Gonet

Director of Athletics

$189,400Pt VII · Sec A

Ben Rein

Ahos - Institutional Advan

$177,223Pt VII · Sec A

Kendra Varnell

Ahos - Student Affairs

$152,485Pt VII · Sec A

Amy T Bright

Director of Finance

$141,015Pt VII · Sec A

Aaron D Sundstrom

Head of Upper School

$140,091Pt VII · Sec A

Doreen C Kelly’s $567K as Former Head of School is at the 92nd 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	FY2024	FY2024	FY2023	FY2022	FY2021	FY2020
Doreen C Kelly	$566,993	$601,417	$597,024	$573,550	$485,563	$445,449
George L Johnson	—	—	$226,188	$297,486	$275,160	$265,078
Gregory S Hodges	$241,840	$239,713	—	—	—	—
Derrick D Willard	$226,811	—	—	—	—	—
Edward J Gonet	$189,400	$204,178	$150,934	$144,826	$139,068	$135,221
Justin Brandon	—	$202,451	$171,009	—	—	—
Philip C Higginson	—	—	$200,107	$184,625	$166,113	$160,749
Colleen M Ramsden	—	—	—	—	$188,575	$167,076

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 children from preschool through twelfth grade in an independent school setting.

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Provided by the organization

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1 program · $28.2M · in their own filed words · FY2024

01

All facets of primary & secondary education including auxiliary operations, summer programs, scholarships and financial assistance.

$28.2Mprogram 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

Thorney Point FoundationFY2025$12K

Total grants receivedfrom 1 funder$12K

Grants paid · 18 grants · $20.2M · 2019–2024

Unitemized GrantFY2024$3,547,756

Unitemized GrantFY2024$131,040

Unitemized GrantFY2024$113,419

Unitemized GrantFY2023$3,256,632

Unitemized GrantFY2023$123,730

Unitemized GrantFY2023$68,790

Unitemized GrantFY2022$3,029,720

Unitemized GrantFY2022$121,036

Unitemized GrantFY2022$63,830

Unitemized GrantFY2021$3,069,802

Unitemized GrantFY2021$116,658

Unitemized GrantFY2021$57,723

Unitemized GrantFY2020$3,202,728

Unitemized GrantFY2020$104,617

Unitemized GrantFY2020$31,953

Unitemized GrantFY2019$3,002,587

Unitemized GrantFY2019$101,828

Unitemized GrantFY2019$29,370

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$43.5M

Ln 12

Fees for servicesLn 2g$39.1M

Gifts and grantsLn 1h$2.1M

Investment incomeLn 3$2.0M

Money outPt IX

$42.7M

Ln 25

Programscol B$28.2M

Managementcol C$13.5M

Fundraisingcol D$969K

Owns and owesPt X

$48.4M

net assets · Ln 32

Cash and savingsLn 1–2$22.4M

Total assetsLn 16$88.0M

LiabilitiesLn 26$39.5M

PeoplePt VI, VII

29

listed · VII A

PaidVII A8

Voting boardVI 1a21

IndependentVI 1b21

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2.1M

Noncash giftsLn 1g$324K

Fundraising eventsLn 1c$82K

Fees for servicesLn 2g$39.1M

Investment incomeLn 3$2.0M

Other incomeLn 4–11$273K

Gains on assetsLn 7$933K

Total revenueLn 12$43.5M

Assets in detailPt X, end of year

SavingsLn 2$22.4M

Cash and savings togetherLn 1–2$22.4M

InvestmentsLn 11–13$29.9M

Land, buildings, equipmentLn 10c$29.3M

Other assetsLn 15$5.1M

Total assetsLn 16$88.0M

LiabilitiesLn 26$39.5M

Net assetsLn 32$48.4M

OperationsPt I, VI

EmployeesI 5459

VolunteersI 6100

Fiscal year endsHeaderDecember

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 FY24	End FY24
Cash and savingsLn 1–2	$21.2M	$22.4M
InvestmentsLn 11–13	$27.7M	$29.9M
Land, buildings, equipmentLn 10c	$29.6M	$29.3M
Total assetsLn 16	$85.6M	$88.0M
LiabilitiesLn 26	$39.0M	$39.5M
Net assetsLn 32	$46.6M	$48.4M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$3.8M	$3.8M
Pay of current officers, directors and key staffLn 5	$909K		$909K
Other salaries and wagesLn 7	$17.0M	$14.1M	$2.4M	$486K
Pension plan contributionsLn 8	$900K	$688K	$188K	$24K
Other employee benefitsLn 9	$1.9M	$1.6M	$339K	$54K
Payroll taxesLn 10	$1.4M	$1.0M	$339K	$36K
Legal feesLn 11b	$33K		$33K
Accounting feesLn 11c	$59K		$59K
Investment management feesLn 11f	$129K		$129K
Other fees for servicesLn 11g	$2.3M	$4K	$2.3M	$6K
Office expensesLn 13	$336K	$155K	$153K	$28K
Information technologyLn 14	$400K	$245K	$136K	$19K
OccupancyLn 16	$643K	$333K	$310K
TravelLn 17	$391K	$333K	$45K	$12K
InterestLn 20	$539K		$539K
Depreciation, depletion and amortizationLn 22	$2.8M	$2.3M	$559K	$24K
InsuranceLn 23	$447K	$393K	$40K	$13K
Other expenses (24a–d)Ln 24	$5.8M	$2.9M	$2.9M	$7K
All other expensesLn 24e	$2.7M	$384K	$2.0M	$260K
Total functional expensesLn 25	$42.7M	$28.2M	$13.5M	$969K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024	$41.1M	$40.7M	$422K	$46.6M	990 PDF
FY2023	$37.9M	$38.7M	−$750K	$44.4M	990 PDF
FY2022	$36.4M	$34.9M	$1.5M	$41.7M	990 PDF
FY2021	$36.2M	$33.2M	$3.0M	$42.4M	990 PDF
FY2020	$33.1M	$31.6M	$1.5M	$32.8M	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 FY2024 990 (6 parts)

Part I · Summary $43,524,626 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $2,093,351$2,146,029

I-9 Program service revenuePrior year $37,228,573$39,081,203

I-10 Investment incomePrior year $1,470,793$2,023,921

I-11 Other revenuePrior year $279,561$273,473

I-12 Total revenuePrior year $41,072,278$43,524,626

I-13 Grants and similar amounts paidPrior year $3,449,152$3,792,215

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $21,207,070$22,216,741

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $15,994,109$16,664,467

I-18 Total expensesPrior year $40,650,331$42,673,423

I-19 Revenue less expensesPrior year $421,947$851,203

Part VI · Governance 21 of 21 board members independent, no flags

VI-1a Voting members of the governing body21

VI-1b Independent voting members21

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 $43,524,626 across 11 lines filed

VIII-1c Fundraising events$81,927

VIII-1f All other contributions, gifts and grants$2,064,102

VIII-1g Noncash contributions (included above)$324,148

VIII-1h Total contributions, gifts and grants$2,146,029

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $39,081,203$39,081,203

VIII-3 Investment incomeExcluded from tax $1,091,196$1,091,196

VIII-6 Net rental income or lossExcluded from tax $167,724$167,724

VIII-7 Net gain or loss on sales of assetsExcluded from tax $932,725$932,725

VIII-8 Net income from fundraising eventsExcluded from tax −$6,000−$6,000

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $111,749$111,749

VIII-12 Total revenueRelated to mission $39,192,952 · Unrelated business $0 · Excluded from tax $2,185,645$43,524,626

Part IX · Statement of functional expenses $42,673,423 across 19 lines filed

IX-2 Grants to domestic individualsPrograms $3,792,215$3,792,215

IX-5 Pay of current officers, directors and key staffManagement $908,590$908,590

IX-7 Other salaries and wagesPrograms $14,125,385 · Management $2,436,838 · Fundraising $485,935$17,048,158

IX-8 Pension plan contributionsPrograms $687,604 · Management $188,460 · Fundraising $23,791$899,855

IX-9 Other employee benefitsPrograms $1,556,877 · Management $338,792 · Fundraising $53,937$1,949,606

IX-10 Payroll taxesPrograms $1,035,911 · Management $338,778 · Fundraising $35,843$1,410,532

IX-11b Legal feesManagement $33,099$33,099

IX-11c Accounting feesManagement $59,138$59,138

IX-11f Investment management feesManagement $128,887$128,887

IX-11g Other fees for servicesPrograms $3,759 · Management $2,339,325 · Fundraising $5,998$2,349,082

IX-13 Office expensesPrograms $154,807 · Management $152,639 · Fundraising $28,212$335,658

IX-14 Information technologyPrograms $244,922 · Management $135,783 · Fundraising $19,398$400,103

IX-16 OccupancyPrograms $332,690 · Management $310,002$642,692

IX-17 TravelPrograms $333,431 · Management $45,409 · Fundraising $12,266$391,106

IX-20 InterestManagement $538,504$538,504

IX-22 Depreciation, depletion and amortizationPrograms $2,255,319 · Management $558,711 · Fundraising $24,147$2,838,177

IX-23 InsurancePrograms $393,412 · Management $40,235 · Fundraising $13,412$447,059

IX-24 Other expenses (24a–d)Programs $2,895,364 · Management $2,939,293 · Fundraising $6,585$5,841,242

IX-24e All other expensesPrograms $383,548 · Management $2,016,403 · Fundraising $259,769$2,659,720

IX-25 Total functional expensesPrograms $28,195,244 · Management $13,508,886 · Fundraising $969,293$42,673,423

Part X · Balance sheet $87,964,579 assets, 18 lines filed

X-2 Savings and temporary cash investmentsStart of year $21,213,924$22,395,042

X-3 Pledges and grants receivableStart of year $1,455,140$1,057,377

X-4 Accounts receivableStart of year $204,878$175,630

X-8 Inventories for sale or useStart of year $89,073$54,096

X-9 Prepaid expenses and deferred chargesStart of year $2,689$0

X-10c Land, buildings and equipment, netStart of year $29,621,658$29,345,604

X-11 Publicly traded securitiesStart of year $27,712,670$29,878,260

X-15 Other assetsStart of year $5,253,556$5,058,570

X-16 Total assetsStart of year $85,553,588$87,964,579

X-17 Accounts payable and accrued expensesStart of year $1,793,922$1,966,918

X-19 Deferred revenueStart of year $17,358,504$17,839,981

X-20 Tax-exempt bond liabilitiesStart of year $18,612,488$18,095,473

X-25 Other liabilitiesStart of year $1,113,570$1,261,349

X-26 Total liabilitiesStart of year $38,970,042$39,549,038

X-27 Net assets without donor restrictionsStart of year $22,930,341$23,330,698

X-28 Net assets with donor restrictionsStart of year $23,653,205$25,084,843

X-32 Total net assets or fund balancesStart of year $46,583,546$48,415,541

X-33 Total liabilities and net assetsStart of year $85,553,588$87,964,579

Part XI · Reconciliation of net assets $48,415,541 net assets at year end

XI-1 Total revenue$43,524,626

XI-2 Total expenses$42,673,423

XI-3 Revenue less expenses$851,203

XI-4 Net assets at start of year$46,583,546

XI-5 Net unrealized gains (losses) on investments$1,331,085

XI-9 Other changes in net assets−$350,293

XI-10 Net assets at end of year$48,415,541

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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