The Baylor School FY2021 filing

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Baylor's mission is to foster in its students both the ability and the desire to make a positive difference in the world.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
$1.6M 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
5 of 6
filings with a surplus
Average surplus $4.8M a year · 9% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.6M
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
6 mo
of spending, in cash
Plus $173.3M in investments, Pt X · Ln 11–13
Looks good: 6.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $26K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$40.3M
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
27
of 27 voting members
Looks good: 27 of 27 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$47.7M
+10% vs prior year
Spent
$47.5M
To programs
83%
Net assets
$229.8M
By yearFY2020–FY2025
Revenue
$47.7M
FY2021▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2020$43.5M
FY2021$47.7M
FY2022$57.6M
FY2023$51.5M
FY2024$67.4M
FY2025$63.6M
Expenses
$47.5M
FY2021▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2020$43.9M
FY2021$47.5M
FY2022$47.6M
FY2023$50.8M
FY2024$54.2M
FY2025$58.5M
Net assets
$229.8M
FY2021▲ +22%
Tap a bar for its year
Net assets by fiscal year
FY2020$188.4M
FY2021$229.8M
FY2022$199.2M
FY2023$210.1M
FY2024$227.8M
FY2025$244.6M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1935.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $39.3M Management & general 15% · $7.0M Fundraising 3% · $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

36 people listed on the 990; $1.6M 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
President/Headmaster
$417,402Pt VII · Sec A
Treasurer & CFO
$260,136Pt VII · Sec A
Assistant Headmaster
$170,942Pt VII · Sec A
Chief Advancement Officer
$165,620Pt VII · Sec A
Dir. of Admissions and Enr
$158,602Pt VII · Sec A
Head of Middle School
$146,333Pt VII · Sec A
Financial Aid Director
$133,155Pt VII · Sec A
$129,506Pt VII · Sec A

Chris Angel’s $764K as Head of School is at the 97th 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Chris Angel$763,834$748,249$719,784$371,564——
Scott Wilson——$124,541$367,410$417,402$403,605
Dallas W Joseph JR$360,050$351,402$336,695$313,405$260,136$277,466
Shaw Wilson$195,108$192,285$182,604$179,639$170,942$170,742
Erik Kimrey$178,450$165,207$190,281———
Matt Lewis—$146,474$182,857$175,516$165,620$165,209
Dave Robinson$175,419—————
Elizabeth Forrester———$169,331——

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 The Baylor School executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Prepares students for college through rigorous academics and boarding life.

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2 programs · $39.3M · in their own filed words · FY2020
01

The baylor school educates students in grades 6-12; enrollment for the 2020/2021 academic year was 1,036. Baylor fulfills it's mission by providing: a rich academic program; a school rooted in tradition yet, receptive to change; a wide variety of co-curricular experiences; and a balance of emphases on activities which encourages student…

$35.2Mprogram expense
02

When the COVID-19 pandemic hit north america in march 2020, the school found itself in a unique position to aid in the fight against the spread of the disease. The school's research lab had equipment on hand to perform COVID-19 tests.

$4.1Mprogram expense

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
See all 3 funders →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$47.7M
Ln 12
Fees for servicesLn 2g$39.2M
Gifts and grantsLn 1h$5.4M
Investment incomeLn 3$2.7M
Money outPt IX
$47.5M
Ln 25
Programscol B$39.3M
Managementcol C$7.0M
Fundraisingcol D$1.2M
Owns and owesPt X
$229.8M
net assets · Ln 32
Cash and savingsLn 1–2$25.7M
Total assetsLn 16$270.1M
LiabilitiesLn 26$40.3M
PeoplePt VI, VII
36
listed · VII A
PaidVII A8
Voting boardVI 1a27
IndependentVI 1b27
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.4M
Noncash giftsLn 1g$148K
Fundraising eventsLn 1c$536K
Fees for servicesLn 2g$39.2M
Investment incomeLn 3$2.7M
Other incomeLn 4–11$322K
Gains on assetsLn 7$2.1M
Total revenueLn 12$47.7M
Assets in detailPt X, end of year
SavingsLn 2$25.7M
Cash and savings togetherLn 1–2$25.7M
Pledges and grants receivableLn 3$2.9M
Accounts receivableLn 4$2.5M
Inventories for sale or useLn 8$227K
Prepaid expenses and deferred chargesLn 9$180K
Land, buildings, equipmentLn 10c$62.6M
InvestmentsLn 11–13$173.3M
Other assetsLn 15$2.8M
Total assetsLn 16$270.1M
LiabilitiesLn 26$40.3M
Net assetsLn 32$229.8M
OperationsPt I, VI
EmployeesI 5618
VolunteersI 6500
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$17.9M
Bond issues listedSch K Pt I1
Raised by those issuesSch K Pt I$22.9M
Abroad and in kindSch F, M
Grants to other countriesSch F Pt II–III$528K
Noncash gifts receivedSch M Pt I$148K
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$258K
Share of the $164.2M endowmentSch D 1g0.16%
Typical, median of 2,202 orgs0.44%
EndowmentSch D · Pt V
LineFY21FY20FY19FY18FY17
End of yearLn 1g$164.2M$127.6M$129.4M$125.3M$116.0M
Given inLn 1b$2.3M$2.7M$947K$3.3M$1.1M
SpentLn 1d–1f$5.5M$5.3M$5.6M$4.9M$8.7M
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$32.3M$25.7M
InvestmentsLn 11–13$120.7M$173.3M
Land, buildings, equipmentLn 10c$63.9M$62.6M
Total assetsLn 16$226.4M$270.1M
LiabilitiesLn 26$38.0M$40.3M
Net assetsLn 32$188.4M$229.8M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$7.1M$7.1M
Grants and assistance to foreign recipientsLn 3$528K$528K
Pay of current officers, directors and key staffLn 5$927K$720K$164K$42K
Other salaries and wagesLn 7$16.6M$12.8M$3.0M$784K
Pension plan contributionsLn 8$1.4M$957K$400K$57K
Other employee benefitsLn 9$1.1M$819K$252K$63K
Payroll taxesLn 10$1.2M$992K$137K$56K
Management feesLn 11a$364K$180K$184K
Legal feesLn 11b$225K$12K$212K
Accounting feesLn 11c$65K$12K$52K
Professional fundraising feesLn 11e$7K$7K
Investment management feesLn 11f$258K$258K
Other fees for servicesLn 11g$208K$186K$22K
Advertising and promotionLn 12$293K$19K$274K
Office expensesLn 13$1.5M$1.1M$258K$97K
Information technologyLn 14$91K$25K$63K$3K
OccupancyLn 16$1.3M$1.2M$34K$3K
TravelLn 17$497K$405K$82K$10K
InterestLn 20$488K$3K$485K
Depreciation, depletion and amortizationLn 22$4.2M$4.1M$115K$8K
InsuranceLn 23$439K$72K$367K$148
Other expenses (24a–d)Ln 24$7.3M$7.1M$214K$4K
All other expensesLn 24e$1.4M$915K$393K$64K
Total functional expensesLn 25$47.5M$39.3M$7.0M$1.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 14, 2026 $63.6M$58.5M$5.1M$244.6M 990 PDF
FY2024Filed with the IRS May 15, 2025 $67.4M$54.2M$13.2M$227.8M 990 PDF
FY2023Filed with the IRS May 14, 2024 $51.5M$50.8M$708K$210.1M 990 PDF
FY2022 $57.6M$47.6M$10.0M$199.2M 990 PDF
FY2021 ViewingFiled with the IRS Feb 4, 2022 $47.7M$47.5M$200K$229.8M 990 PDF
FY2020Filed with the IRS May 17, 2021 $43.5M$43.9M−$453K$188.4M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign M · Noncash J · Pay O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $47,683,171 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $6,123,851$5,408,630
I-9 Program service revenuePrior year $33,969,189$39,235,422
I-10 Investment incomePrior year $3,284,889$2,716,813
I-11 Other revenuePrior year $110,818$322,306
I-12 Total revenuePrior year $43,488,747$47,683,171
I-13 Grants and similar amounts paidPrior year $7,495,569$7,657,351
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $20,952,421$21,264,137
I-16a Professional fundraising feesPrior year $30,900$7,498
I-17 Other expensesPrior year $15,462,902$18,553,899
I-18 Total expensesPrior year $43,941,792$47,482,885
I-19 Revenue less expensesPrior year −$453,045$200,286
Part VI · Governance 27 of 27 board members independent, 1 to look at
VI-1a Voting members of the governing body27
VI-1b Independent voting members27
VI-2 Family or business relationship among officers or directorsYes
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 $47,683,171 across 10 lines filed
Lines not itemized here account for $252,226 of total revenue; see the IRS return.
VIII-1c Fundraising events$535,629
VIII-1f All other contributions, gifts and grants$4,873,001
VIII-1g Noncash contributions (included above)$148,001
VIII-1h Total contributions, gifts and grants$5,408,630
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $39,016,140$39,016,140
VIII-3 Investment incomeExcluded from tax $637,380$637,380
VIII-6 Net rental income or lossExcluded from tax $5,800$5,800
VIII-7 Net gain or loss on sales of assetsUnrelated business $122,289 · Excluded from tax $1,957,144$2,079,433
VIII-8 Net income from fundraising eventsExcluded from tax $283,562$283,562
VIII-12 Total revenueRelated to mission $39,273,404 · Unrelated business $117,251 · Excluded from tax $2,883,886$47,683,171
Part IX · Statement of functional expenses $47,482,885 across 23 lines filed
IX-2 Grants to domestic individualsPrograms $7,129,684$7,129,684
IX-3 Grants and assistance to foreign recipientsPrograms $527,667$527,667
IX-5 Pay of current officers, directors and key staffPrograms $720,119 · Management $164,480 · Fundraising $42,361$926,960
IX-7 Other salaries and wagesPrograms $12,774,293 · Management $3,044,565 · Fundraising $784,111$16,602,969
IX-8 Pension plan contributionsPrograms $956,827 · Management $400,263 · Fundraising $56,659$1,413,749
IX-9 Other employee benefitsPrograms $819,418 · Management $252,226 · Fundraising $63,017$1,134,661
IX-10 Payroll taxesPrograms $992,302 · Management $137,019 · Fundraising $56,477$1,185,798
IX-11a Management feesPrograms $179,793 · Management $184,453$364,246
IX-11b Legal feesPrograms $12,236 · Management $212,396$224,632
IX-11c Accounting feesPrograms $12,500 · Management $52,348$64,848
IX-11e Professional fundraising feesFundraising $7,498$7,498
IX-11f Investment management feesManagement $258,150$258,150
IX-11g Other fees for servicesPrograms $186,428 · Management $21,906$208,334
IX-12 Advertising and promotionPrograms $18,783 · Management $273,962$292,745
IX-13 Office expensesPrograms $1,107,780 · Management $257,730 · Fundraising $96,566$1,462,076
IX-14 Information technologyPrograms $25,366 · Management $62,838 · Fundraising $3,074$91,278
IX-16 OccupancyPrograms $1,217,794 · Management $34,120 · Fundraising $2,509$1,254,423
IX-17 TravelPrograms $405,153 · Management $82,453 · Fundraising $9,648$497,254
IX-20 InterestPrograms $2,550 · Management $485,479$488,029
IX-22 Depreciation, depletion and amortizationPrograms $4,087,389 · Management $114,521 · Fundraising $8,421$4,210,331
IX-23 InsurancePrograms $71,738 · Management $367,074 · Fundraising $148$438,960
IX-24 Other expenses (24a–d)Programs $7,108,665 · Management $213,990 · Fundraising $3,520$7,326,175
IX-24e All other expensesPrograms $914,962 · Management $393,250 · Fundraising $64,206$1,372,418
IX-25 Total functional expensesPrograms $39,271,447 · Management $7,013,223 · Fundraising $1,198,215$47,482,885
Part X · Balance sheet $270,105,763 assets, 19 lines filed
X-2 Savings and temporary cash investmentsStart of year $32,333,324$25,651,044
X-3 Pledges and grants receivableStart of year $5,483,277$2,863,497
X-4 Accounts receivableStart of year $1,581,897$2,491,515
X-8 Inventories for sale or useStart of year $334,338$227,342
X-9 Prepaid expenses and deferred chargesStart of year $529,806$179,520
X-10c Land, buildings and equipment, netStart of year $63,874,618$62,584,683
X-12 Other securitiesStart of year $120,687,737$173,279,776
X-15 Other assetsStart of year $1,556,714$2,828,386
X-16 Total assetsStart of year $226,381,711$270,105,763
X-17 Accounts payable and accrued expensesStart of year $1,143,051$2,129,861
X-19 Deferred revenueStart of year $15,805,601$17,373,536
X-20 Tax-exempt bond liabilitiesStart of year $17,871,866$17,853,955
X-23 Secured mortgages and notes payableStart of year $621,791$621,791
X-25 Other liabilitiesStart of year $2,551,299$2,370,221
X-26 Total liabilitiesStart of year $37,993,608$40,349,364
X-27 Net assets without donor restrictionsStart of year $126,822,259$153,450,272
X-28 Net assets with donor restrictionsStart of year $61,565,844$76,306,127
X-32 Total net assets or fund balancesStart of year $188,388,103$229,756,399
X-33 Total liabilities and net assetsStart of year $226,381,711$270,105,763
Part XI · Reconciliation of net assets $229,756,399 net assets at year end
XI-1 Total revenue$47,683,171
XI-2 Total expenses$47,482,885
XI-3 Revenue less expenses$200,286
XI-4 Net assets at start of year$188,388,103
XI-5 Net unrealized gains (losses) on investments$39,794,310
XI-9 Other changes in net assets$1,373,700
XI-10 Net assets at end of year$229,756,399

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

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