The Pine School INC FY2024 filing

Tax-deductible

Hobe Sound, FL501(c)(3)Since 1969EducationEIN 59-1276282Revenue $17.2M in FY2024

On file with the IRSthepineschool.org12350 Se Federal Hwy, 33455-5515 · Hobe Sound, FLTax-exempt since Aug 1970School — 170(b)(1)(A)(ii)

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The Pine School is an independent college preparatory school, Kindergarten through 12th Grade. We promote academic, artistic, and athletic excellence in a close-knit learning environment that extends from the classroom to our expansive natural campus and beyond. Our challenging curriculum cultivates intellectual curiosity and honors each student's voice as we strive for inclusivity. From a strong sense of community and connection, Pine School students become inspired and prepared to navigate a complex and changing world.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$765K 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

FY2024 · 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
6 of 6
filings with a surplus
Average surplus $3.0M a year · 19% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$765K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 7.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$15.5M
51% of total assets
Fine: liabilities are 51% of assets; 50% to 65%.
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
$17.2M
+14% vs prior year
Spent
$15.3M
To programs
82%
Net assets
$14.8M
By yearFY2020–FY2025
Revenue
$17.2M
FY2024▲ +14%
Tap a bar for its year
Revenue by fiscal year
FY2020$10.3M
FY2021$13.0M
FY2022$13.5M
FY2023$15.1M
FY2024$17.2M
FY2025$25.5M
Expenses
$15.3M
FY2024▲ +13%
Tap a bar for its year
Expenses by fiscal year
FY2020$9.9M
FY2021$10.2M
FY2022$11.2M
FY2023$13.6M
FY2024$15.3M
FY2025$16.4M
Net assets
$14.8M
FY2024▲ +18%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.9M
FY2021$9.0M
FY2022$11.0M
FY2023$12.6M
FY2024$14.8M
FY2025$24.1M

From the FY2024 Form 990 (year ending June 2024) · 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 Aug 1970.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $12.5M Management & general 12% · $1.8M Fundraising 6% · $987K

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

25 people listed on the 990; $765K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Head of School
$296,797Pt VII · Sec A
Controller
$125,000Pt VII · Sec A
Director of Development
$118,500Pt VII · Sec A
Assistant Head of School
$115,200Pt VII · Sec A
Director of Technology
$109,500Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Binney P Caffrey’s $303K as Head of School is at the 66th 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 · 6 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Binney P Caffrey$303,497$296,797$250,679$230,872$223,669$209,839
John Boyer$127,500$118,500$112,353$109,473$103,625—
Kelly Carlson$112,115$125,000————
Kelly Hilton-Green$114,240$115,200$104,339$106,665——
Jeffrey Shirk$111,000—————
Paul Needham—$109,500————

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 Kindergarten through 12th grade, fostering academic, artistic, and athletic excellence.

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Provided by the organization

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1 program · $12.5M · in their own filed words · FY2023
01

The Pine School is a college preparatory nonsectarian day school which provides a superior college preparatory education for children of kindergarten age through 12th grade by providing instruction and student activities. Average enrollment is over 420 students.

$12.5Mprogram 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
Total grants receivedfrom 1 funder$1K
Grants paid · 8 grants · $5.4M · 2023–2024
Unitemized GrantFY2024$1,355,909
Unitemized GrantFY2024$633,400
Unitemized GrantFY2024$299,694
Unitemized GrantFY2024$241,138
Unitemized GrantFY2023$1,688,123
Unitemized GrantFY2023$589,625
Unitemized GrantFY2023$360,284
Unitemized GrantFY2023$231,848

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$17.2M
Ln 12
Fees for servicesLn 2g$15.6M
Gifts and grantsLn 1h$1.5M
Investment incomeLn 3$333K
Money outPt IX
$15.3M
Ln 25
Programscol B$12.5M
Managementcol C$1.8M
Fundraisingcol D$987K
Owns and owesPt X
$14.8M
net assets · Ln 32
Cash and savingsLn 1–2$9.7M
Total assetsLn 16$30.3M
LiabilitiesLn 26$15.5M
PeoplePt VI, VII
25
listed · VII A
PaidVII A5
Voting boardVI 1a20
IndependentVI 1b20
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.5M
Noncash giftsLn 1g$113K
Fundraising eventsLn 1c$503K
Fees for servicesLn 2g$15.6M
Investment incomeLn 3$333K
Gains on assetsLn 7$21K
Total revenueLn 12$17.2M
Assets in detailPt X, end of year
CashLn 1$21K
SavingsLn 2$9.7M
Cash and savings togetherLn 1–2$9.7M
InvestmentsLn 11–13$3.0M
Land, buildings, equipmentLn 10c$16.0M
Other assetsLn 15$788K
Total assetsLn 16$30.3M
LiabilitiesLn 26$15.5M
Net assetsLn 32$14.8M
OperationsPt I, VI
EmployeesI 5121
VolunteersI 615
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
LineStart FY24End FY24
Cash and savingsLn 1–2$7.9M$9.7M
InvestmentsLn 11–13$2.6M$3.0M
Land, buildings, equipmentLn 10c$15.4M$16.0M
Total assetsLn 16$27.3M$30.3M
LiabilitiesLn 26$14.7M$15.5M
Net assetsLn 32$12.6M$14.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$2.9M$2.9M
Pay of current officers, directors and key staffLn 5$823K$634K$109K$80K
Other salaries and wagesLn 7$5.8M$4.5M$768K$565K
Pension plan contributionsLn 8$75K$58K$10K$7K
Other employee benefitsLn 9$569K$438K$75K$55K
Payroll taxesLn 10$468K$361K$62K$46K
Legal feesLn 11b$16K$16K
Accounting feesLn 11c$87K$87K
Other fees for servicesLn 11g$1K$1K
Office expensesLn 13$246K$41K$155K$50K
OccupancyLn 16$565K$475K$52K$38K
TravelLn 17$107K$68K$39K
InterestLn 20$282K$217K$37K$27K
Depreciation, depletion and amortizationLn 22$530K$408K$70K$52K
InsuranceLn 23$285K$220K$38K$28K
Other expenses (24a–d)Ln 24$2.3M$2.1M$175K
All other expensesLn 24e$251K$109K$142K
Total functional expensesLn 25$15.3M$12.5M$1.8M$987K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $25.5M$16.4M$9.1M$24.1M 990 PDF
FY2024 Viewing $17.2M$15.3M$1.9M$14.8M 990 PDF
FY2023 $15.1M$13.6M$1.5M$12.6M 990 PDF
FY2022 $13.5M$11.2M$2.2M$11.0M 990 PDF
FY2021 $13.0M$10.2M$2.9M$9.0M 990 PDF
FY2020 $10.3M$9.9M$385K$5.9M 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 $17,193,111 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,334,175$1,463,978
I-9 Program service revenuePrior year $12,942,203$15,606,225
I-10 Investment incomePrior year $120,437$332,859
I-11 Other revenuePrior year $694,382−$209,951
I-12 Total revenuePrior year $15,091,197$17,193,111
I-13 Grants and similar amounts paidPrior year $2,894,798$2,869,880
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $6,722,946$7,746,437
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,978,549$4,688,835
I-18 Total expensesPrior year $13,596,293$15,305,152
I-19 Revenue less expensesPrior year $1,494,904$1,887,959
Part VI · Governance 20 of 20 board members independent, no flags
VI-1a Voting members of the governing body20
VI-1b Independent voting members20
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 $17,193,111 across 10 lines filed
VIII-1c Fundraising events$502,824
VIII-1f All other contributions, gifts and grants$961,154
VIII-1g Noncash contributions (included above)$112,618
VIII-1h Total contributions, gifts and grants$1,463,978
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $15,606,225$15,606,225
VIII-3 Investment incomeExcluded from tax $312,232$312,232
VIII-7 Net gain or loss on sales of assetsExcluded from tax $20,627$20,627
VIII-8 Net income from fundraising eventsExcluded from tax −$356,088−$356,088
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $146,137$146,137
VIII-12 Total revenueRelated to mission $15,606,225 · Unrelated business $0 · Excluded from tax $122,908$17,193,111
Part IX · Statement of functional expenses $15,305,152 across 17 lines filed
IX-2 Grants to domestic individualsPrograms $2,869,880$2,869,880
IX-5 Pay of current officers, directors and key staffPrograms $634,102 · Management $108,700 · Fundraising $80,045$822,847
IX-7 Other salaries and wagesPrograms $4,478,556 · Management $767,736 · Fundraising $565,344$5,811,636
IX-8 Pension plan contributionsPrograms $57,694 · Management $9,890 · Fundraising $7,283$74,867
IX-9 Other employee benefitsPrograms $438,359 · Management $75,146 · Fundraising $55,336$568,841
IX-10 Payroll taxesPrograms $360,839 · Management $61,857 · Fundraising $45,550$468,246
IX-11b Legal feesManagement $16,003$16,003
IX-11c Accounting feesManagement $87,172$87,172
IX-11g Other fees for servicesManagement $1,200$1,200
IX-13 Office expensesPrograms $40,947 · Management $154,622 · Fundraising $50,000$245,569
IX-16 OccupancyPrograms $474,939 · Management $51,663 · Fundraising $38,044$564,646
IX-17 TravelPrograms $68,423 · Fundraising $38,954$107,377
IX-20 InterestPrograms $217,079 · Management $37,213 · Fundraising $27,403$281,695
IX-22 Depreciation, depletion and amortizationPrograms $408,106 · Management $69,960 · Fundraising $51,517$529,583
IX-23 InsurancePrograms $219,969 · Management $37,708 · Fundraising $27,768$285,445
IX-24 Other expenses (24a–d)Programs $2,144,612 · Management $174,727$2,319,339
IX-24e All other expensesPrograms $108,837 · Management $141,969$250,806
IX-25 Total functional expensesPrograms $12,522,342 · Management $1,795,566 · Fundraising $987,244$15,305,152
Part X · Balance sheet $30,304,025 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $17,423$20,904
X-2 Savings and temporary cash investmentsStart of year $7,863,694$9,714,058
X-3 Pledges and grants receivableStart of year $174,560$53,333
X-4 Accounts receivableStart of year $29,104$63,532
X-9 Prepaid expenses and deferred chargesStart of year $514,663$707,856
X-10c Land, buildings and equipment, netStart of year $15,415,980$15,990,982
X-11 Publicly traded securitiesStart of year $2,569,062$2,965,540
X-15 Other assetsStart of year $748,634$787,820
X-16 Total assetsStart of year $27,333,120$30,304,025
X-17 Accounts payable and accrued expensesStart of year $425,118$599,827
X-19 Deferred revenueStart of year $5,933,192$6,657,444
X-25 Other liabilitiesStart of year $27,275$52,857
X-26 Total liabilitiesStart of year $14,729,141$15,487,060
X-27 Net assets without donor restrictionsStart of year $9,291,359$11,393,029
X-28 Net assets with donor restrictionsStart of year $3,312,620$3,423,936
X-32 Total net assets or fund balancesStart of year $12,603,979$14,816,965
X-33 Total liabilities and net assetsStart of year $27,333,120$30,304,025
Part XI · Reconciliation of net assets $14,816,965 net assets at year end
XI-1 Total revenue$17,193,111
XI-2 Total expenses$15,305,152
XI-3 Revenue less expenses$1,887,959
XI-4 Net assets at start of year$12,603,979
XI-5 Net unrealized gains (losses) on investments$325,027
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$14,816,965

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

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