The Benjamin Private School INC

Tax-deductible

N Palm Beach, FL501(c)(3)Since 1960EducationEIN 59-1536502

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The mission of the Benjamin School is to provide a challenging college preparatory education to a diverse student body in a structured, nurturing community environment. The School motivates students to master the skills of learning, communicating and evaluating choices, and encourages them to grow intellectually, socially, morally, aesthetically, and physically to their fullest individual potential.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Run by 224 volunteers and 399 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $7.9M a year · 19% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.7M
to officers and key staff · 4% of spending
Top officer’s pay higher than 93% of similar orgs
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
11 mo
of spending, in cash
Looks good: 11.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $35K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$33.6M
23% of total assets
Looks good: liabilities are 23% 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
$57.4M
-10% vs prior year
Spent
$42.9M
To programs
89%
Net assets
$109.9M
By yearFY2020–FY2024
Revenue
$57.4M
FY2024▼ -10%
Revenue by fiscal year
FY2020$30.7M
FY2021$35.7M
FY2022$39.2M
FY2023$43.4M
FY2024$64.0M
FY2024$57.4M
Expenses
$42.9M
FY2024▲ +3%
Expenses by fiscal year
FY2020$29.4M
FY2021$30.6M
FY2022$34.3M
FY2023$37.6M
FY2024$41.5M
FY2024$42.9M
Net assets
$109.9M
FY2024▲ +17%
Net assets by fiscal year
FY2020$48.8M
FY2021$58.2M
FY2022$60.9M
FY2023$69.1M
FY2024$94.2M
FY2024$109.9M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1974.

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

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $38.4M Management & general 8% · $3.4M Fundraising 2% · $1.1M

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; $1.7M paid to officers and key staff.

Part VII, Section A · reportable compensation
Head of School
$593,089Pt VII · Sec A
$219,052Pt VII · Sec A
Head of Lower School
$207,392Pt VII · Sec A
Head of Upper School
$184,123Pt VII · Sec A
Chief Development Officer
$183,083Pt VII · Sec A
Head of Middle School
$167,765Pt VII · Sec A
Director of Finance
$163,645Pt VII · Sec A
$0Pt VII · Sec A

David Faus’s $593K as Head of School is at the 93rd 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

NameFY2024FY2024FY2023FY2022FY2021FY2020
David Faus$593,089$553,310$482,217$418,067$222,540—
Robert S Goldberg—————$313,696
Leslie Downs$219,052$194,217$198,861$179,283$184,132$170,596
Kristen Sheehan$207,392$153,676$145,201$141,419$137,371$136,010
Jonathan Carr$184,123$172,006$168,892$174,802$163,022$152,656
Juan Carlos Fanjul$183,083$171,453$165,136$158,273$153,619$149,400
Tom Reid————$172,720$171,720
Charles Hagy$167,765$157,097$154,151$150,448$147,788$137,506

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 diverse students for college in a nurturing environment, fostering learning and personal growth.

Provided by the organization

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2 program services account for $38.4M of program spending, described in the organization's own filed words · FY2024.
01

The benjamin school motivates students to master the skills of learning, communicating and evaluating choices, and encourages them to grow intellectually, socially, morally, aesthetically and physically to their fullest individual potential.

$37.9Mprogram expense
02

Summer camp consists of a variety of activities to provide students with a fulfilling summer vacation.

$464Kprogram expense

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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 · FY2025
Total grants receivedfrom 2 funders$35K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$57.4M
Ln 12
Fees for servicesLn 2g$43.1M
Gifts and grantsLn 1h$10.1M
Investment incomeLn 3$3.5M
Money outPt IX
$42.9M
Ln 25
Programscol B$38.4M
Managementcol C$3.4M
Fundraisingcol D$1.1M
Owns and owesPt X
$109.9M
net assets · Ln 32
Cash and savingsLn 1–2$39.9M
Total assetsLn 16$143.6M
LiabilitiesLn 26$33.6M
PeoplePt VI, VII
25
listed · VII A
PaidVII A7
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10.1M
Noncash giftsLn 1g$1.3M
Fundraising eventsLn 1c$1.3M
Fees for servicesLn 2g$43.1M
Investment incomeLn 3$3.5M
Other incomeLn 4–11$549K
Gains on assetsLn 7$1.5M
Total revenueLn 12$57.4M
Assets in detailPt X, end of year
CashLn 1$2K
SavingsLn 2$39.9M
Cash and savings togetherLn 1–2$39.9M
InvestmentsLn 11–13$40.0M
Land, buildings, equipmentLn 10c$44.5M
Other assetsLn 15$383K
Total assetsLn 16$143.6M
LiabilitiesLn 26$33.6M
Net assetsLn 32$109.9M
OperationsPt I, VI
EmployeesI 5399
VolunteersI 6224
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
LineStart FY24End FY24
Cash and savingsLn 1–2$28.8M$39.9M
InvestmentsLn 11–13$35.8M$40.0M
Land, buildings, equipmentLn 10c$45.2M$44.5M
Total assetsLn 16$127.5M$143.6M
LiabilitiesLn 26$33.3M$33.6M
Net assetsLn 32$94.2M$109.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$4.6M$4.6M
Pay of current officers, directors and key staffLn 5$854K$778K$49K$27K
Other salaries and wagesLn 7$19.8M$18.0M$1.1M$629K
Pension plan contributionsLn 8$893K$812K$52K$29K
Other employee benefitsLn 9$1.5M$1.4M$89K$49K
Payroll taxesLn 10$1.5M$1.3M$86K$47K
Legal feesLn 11b$21K$21K
Accounting feesLn 11c$64K$64K
Professional fundraising feesLn 11e$108K$108K
Investment management feesLn 11f$122K$122K
Other fees for servicesLn 11g$3.1M$2.5M$601K$2K
Advertising and promotionLn 12$195K$10K$156K$29K
Information technologyLn 14$300K$227K$63K$10K
OccupancyLn 16$978K$902K$76K
Conferences, conventions and meetingsLn 19$959K$748K$134K$77K
InterestLn 20$287K$287K
Depreciation, depletion and amortizationLn 22$2.8M$2.7M$113K
InsuranceLn 23$1.9M$1.8M$77K
Other expenses (24a–d)Ln 24$2.6M$2.4M$184K$42K
All other expensesLn 24e$217K$80K$132K$5K
Total functional expensesLn 25$42.9M$38.4M$3.4M$1.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $64.0M$41.5M$22.5M$94.2M 990 PDF
FY2023 $43.4M$37.6M$5.8M$69.1M 990 PDF
FY2022 $39.2M$34.3M$4.8M$60.9M 990 PDF
FY2021 $35.7M$30.6M$5.1M$58.2M 990 PDF
FY2020 $30.7M$29.4M$1.4M$48.8M 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 (4 parts)
Part VIII · Statement of revenue $57,377,989 across 9 lines filed
Lines not itemized here account for $378,330 of total revenue; see the IRS return.
VIII-1c Fundraising events$1,274,298
VIII-1f All other contributions, gifts and grants$8,867,253
VIII-1g Noncash contributions (included above)$1,309,874
VIII-1h Total contributions, gifts and grants$10,141,551
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $42,779,880$42,779,880
VIII-3 Investment incomeExcluded from tax $2,060,865$2,060,865
VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,480,764$1,480,764
VIII-8 Net income from fundraising eventsExcluded from tax $536,599$536,599
VIII-12 Total revenueRelated to mission $43,145,355 · Unrelated business $0 · Excluded from tax $4,091,083$57,377,989
Part IX · Statement of functional expenses $42,878,013 across 20 lines filed
IX-2 Grants to domestic individualsPrograms $4,640,791$4,640,791
IX-5 Pay of current officers, directors and key staffPrograms $777,868 · Management $49,428 · Fundraising $27,186$854,482
IX-7 Other salaries and wagesPrograms $18,010,005 · Management $1,143,784 · Fundraising $629,081$19,782,870
IX-8 Pension plan contributionsPrograms $811,977 · Management $52,128 · Fundraising $28,670$892,775
IX-9 Other employee benefitsPrograms $1,382,342 · Management $88,745 · Fundraising $48,809$1,519,896
IX-10 Payroll taxesPrograms $1,339,778 · Management $86,013 · Fundraising $47,306$1,473,097
IX-11b Legal feesManagement $21,302$21,302
IX-11c Accounting feesManagement $64,256$64,256
IX-11e Professional fundraising feesFundraising $108,000$108,000
IX-11f Investment management feesManagement $121,758$121,758
IX-11g Other fees for servicesPrograms $2,476,660 · Management $601,047 · Fundraising $2,019$3,079,726
IX-12 Advertising and promotionPrograms $9,726 · Management $155,611 · Fundraising $29,177$194,514
IX-14 Information technologyPrograms $227,359 · Management $62,839 · Fundraising $10,291$300,489
IX-16 OccupancyPrograms $901,797 · Management $75,707$977,504
IX-19 Conferences, conventions and meetingsPrograms $748,338 · Management $133,643 · Fundraising $77,408$959,389
IX-20 InterestManagement $286,774$286,774
IX-22 Depreciation, depletion and amortizationPrograms $2,712,300 · Management $113,013$2,825,313
IX-23 InsurancePrograms $1,839,855 · Management $76,661$1,916,516
IX-24 Other expenses (24a–d)Programs $2,415,052 · Management $184,257 · Fundraising $42,003$2,641,312
IX-24e All other expensesPrograms $79,546 · Management $132,215 · Fundraising $5,488$217,249
IX-25 Total functional expensesPrograms $38,373,394 · Management $3,449,181 · Fundraising $1,055,438$42,878,013
Part X · Balance sheet $143,568,918 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $2,000$2,000
X-2 Savings and temporary cash investmentsStart of year $28,803,259$39,876,558
X-3 Pledges and grants receivableStart of year $15,345,510$16,883,928
X-4 Accounts receivableStart of year $93,794$32,043
X-9 Prepaid expenses and deferred chargesStart of year $1,685,457$1,851,795
X-10c Land, buildings and equipment, netStart of year $45,206,061$44,500,084
X-11 Publicly traded securitiesStart of year $31,705,292$35,102,237
X-12 Other securitiesStart of year $4,048,508$4,937,307
X-15 Other assetsStart of year $605,832$382,966
X-16 Total assetsStart of year $127,495,713$143,568,918
X-17 Accounts payable and accrued expensesStart of year $2,697,392$3,329,776
X-19 Deferred revenueStart of year $20,978,501$21,256,237
X-20 Tax-exempt bond liabilitiesStart of year $9,612,475$9,055,447
X-26 Total liabilitiesStart of year $33,288,368$33,641,460
X-27 Net assets without donor restrictionsStart of year $72,267,520$81,191,618
X-28 Net assets with donor restrictionsStart of year $21,939,825$28,735,840
X-32 Total net assets or fund balancesStart of year $94,207,345$109,927,458
X-33 Total liabilities and net assetsStart of year $127,495,713$143,568,918
Part XI · Reconciliation of net assets $109,927,458 net assets at year end
XI-1 Total revenue$57,377,989
XI-2 Total expenses$42,878,013
XI-3 Revenue less expenses$14,499,976
XI-4 Net assets at start of year$94,207,345
XI-5 Net unrealized gains (losses) on investments$1,479,123
XI-9 Other changes in net assets−$258,986
XI-10 Net assets at end of year$109,927,458

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

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