Parish Episcopal School: FY2021 Nonprofit Profile & Form 990 (EIN 75-1390485)

Revenue by fiscal year
FY2020	$38.2M
FY2021	$38.4M
FY2022	$42.5M
FY2023	$43.9M
FY2024	$47.6M
FY2025	$49.4M

Expenses by fiscal year
FY2020	$35.3M
FY2021	$36.4M
FY2022	$41.6M
FY2023	$42.3M
FY2024	$46.1M
FY2025	$49.2M

Net assets by fiscal year
FY2020	$38.2M
FY2021	$40.8M
FY2022	$42.6M
FY2023	$44.8M
FY2024	$45.3M
FY2025	$45.0M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1975.

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

Where the money goes

87 cents of each dollar spent went to programs.

87%

Program services 87% · $31.6M Management & general 11% · $3.8M Fundraising 3% · $975K

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

38 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

Dave Monaco - Ex Officio

Allen Meyer Family Head of School

$494,160Pt VII · Sec A

J Mark Kirkpatrick

Chief Financial Officer

$229,051Pt VII · Sec A

Michelle Lyon

Assistant Head of School

$217,422Pt VII · Sec A

Jennifer Wilson

Head of Middle School and Assistant Head of School

$147,086Pt VII · Sec A

Amy Ariagno

Director of Finance

$140,697Pt VII · Sec A

Brett McCabe

Director of Athletics

$123,346Pt VII · Sec A

Andrew Jennings

Head of Upper School

$123,000Pt VII · Sec A

Craig Savage

US Faculty

$117,658Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Dave Monaco	—	—	—	—	—	$1,053,951
Dave Monaco - Ex Officio	—	—	—	$544,307	$494,160	—
Matthew Rush	$470,579	$237,139	—	—	—	—
Michelle Lyon	$248,001	$368,708	—	$224,785	$217,422	$197,309
J Mark Kirkpatrick	$337,566	$261,980	$250,364	$240,877	$229,051	$211,776
Dave Monaco Partial Year	—	—	$331,266	—	—	—
Michelle Lyon - Ex Officio	—	—	$289,703	—	—	—
Jennifer Wilson	$170,626	$184,029	$172,083	$152,105	$147,086	$136,704

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

Guides young people to be creative, bold leaders prepared for a complex world.

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Provided by the organization

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1 program · $31.6M · in their own filed words · FY2020

01

During the fiscal year ended june 30, 2021, parish episcopal school provided quality educational services to approximately 1,137 students in grades preschool through twelfth grade.

$31.6Mprogram 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

Dale E and Janice Davis Johnston Family FoundationFY2025$1K

Total grants receivedfrom 1 funder$1K

Grants paid · 9 grants · $90K · 2022–2024

Wine to WaterNC · FY2024$10,000

Second Wind Dreams INCGA · FY2024$10,000

Minnies Food Pantry INCTX · FY2024$10,000

New Friends New LifeTX · FY2023$10,000

Grant Halliburton Foundation INCTX · FY2023$10,000

Asociacion Kantaya INCPA · FY2023$10,000

City SquareTX · FY2022$10,000

Raes Hope INCTX · FY2022$10,000

Cafe MomentumTX · FY2022$10,000

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$38.4M

Ln 12

Fees for servicesLn 2g$33.7M

Gifts and grantsLn 1h$4.7M

Investment incomeLn 3$77

Money outPt IX

$36.4M

Ln 25

Programscol B$31.6M

Managementcol C$3.8M

Fundraisingcol D$975K

Owns and owesPt X

$40.8M

net assets · Ln 32

Cash and savingsLn 1–2$20.0M

Total assetsLn 16$99.5M

LiabilitiesLn 26$58.8M

PeoplePt VI, VII

38

listed · VII A

PaidVII A8

Voting boardVI 1a29

IndependentVI 1b29

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$4.7M

Noncash giftsLn 1g$71K

Fundraising eventsLn 1c$145K

Fees for servicesLn 2g$33.7M

Investment incomeLn 3$77

Gains on assetsLn 7−$17K

Total revenueLn 12$38.4M

Assets in detailPt X, end of year

CashLn 1$20.0M

Cash and savings togetherLn 1–2$20.0M

Land, buildings, equipmentLn 10c$58.1M

Other assetsLn 15$111K

Total assetsLn 16$99.5M

LiabilitiesLn 26$58.8M

Net assetsLn 32$40.8M

OperationsPt I, VI

EmployeesI 5460

VolunteersI 6495

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 FY21	End FY21
Cash and savingsLn 1–2	$27.8M	$20.0M
Land, buildings, equipmentLn 10c	$41.7M	$58.1M
Total assetsLn 16	$85.9M	$99.5M
LiabilitiesLn 26	$47.7M	$58.8M
Net assetsLn 32	$38.2M	$40.8M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$3.4M	$3.4M
Pay of current officers, directors and key staffLn 5	$1.3M	$463K	$850K
Other salaries and wagesLn 7	$16.8M	$14.7M	$1.4M	$710K
Pension plan contributionsLn 8	$862K	$712K	$114K	$35K
Other employee benefitsLn 9	$1.7M	$1.5M	$155K	$50K
Payroll taxesLn 10	$1.3M	$1.1M	$173K	$58K
Legal feesLn 11b	$41K		$41K
Accounting feesLn 11c	$87K		$87K
Investment management feesLn 11f	$93		$93
Other fees for servicesLn 11g	$972K	$920K	$51K
Advertising and promotionLn 12	$80K	$17K	$63K
Office expensesLn 13	$255K		$255K
Information technologyLn 14	$403K	$188K	$215K
OccupancyLn 16	$2.7M	$2.7M	$60K	$12K
Conferences, conventions and meetingsLn 19	$101K	$101K
InterestLn 20	$744K	$726K	$15K	$4K
Depreciation, depletion and amortizationLn 22	$3.1M	$3.0M	$62K	$15K
InsuranceLn 23	$282K	$271K	$9K	$2K
Other expenses (24a–d)Ln 24	$2.2M	$1.8M	$313K	$88K
Total functional expensesLn 25	$36.4M	$31.6M	$3.8M	$975K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$49.4M	$49.2M	$201K	$45.0M	990 PDF
FY2024	$47.6M	$46.1M	$1.6M	$45.3M	990 PDF
FY2023	$43.9M	$42.3M	$1.6M	$44.8M	990 PDF
FY2022	$42.5M	$41.6M	$821K	$42.6M	990 PDF
FY2021 Viewing	$38.4M	$36.4M	$2.1M	$40.8M	990 PDF
FY2020	$38.2M	$35.3M	$2.9M	$38.2M	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 FY2021 990 (6 parts)

Part I · Summary $38,441,453 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $4,571,856$4,727,046

I-9 Program service revenuePrior year $33,310,309$33,741,378

I-10 Investment incomePrior year −$35,786−$17,032

I-11 Other revenuePrior year $370,225−$9,939

I-12 Total revenuePrior year $38,216,604$38,441,453

I-13 Grants and similar amounts paidPrior year $3,023,882$3,428,522

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

I-15 Salaries and benefitsPrior year $21,246,418$21,962,382

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

I-17 Other expensesPrior year $11,049,524$10,980,588

I-18 Total expensesPrior year $35,319,824$36,371,492

I-19 Revenue less expensesPrior year $2,896,780$2,069,961

Part VI · Governance 29 of 29 board members independent, no flags

VI-1a Voting members of the governing body29

VI-1b Independent voting members29

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 $38,441,453 across 13 lines filed

Lines not itemized here account for $81,675 of total revenue; see the IRS return.

VIII-1b Membership dues$231,153

VIII-1c Fundraising events$145,087

VIII-1d Related organizations$3,592,500

VIII-1f All other contributions, gifts and grants$758,306

VIII-1g Noncash contributions (included above)$70,545

VIII-1h Total contributions, gifts and grants$4,727,046

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $33,741,378$33,741,378

VIII-3 Investment incomeExcluded from tax $77$77

VIII-6 Net rental income or lossRelated to mission $10,114$10,114

VIII-7 Net gain or loss on sales of assetsRelated to mission −$17,109−$17,109

VIII-8 Net income from fundraising eventsExcluded from tax −$136,922−$136,922

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $35,194$35,194

VIII-12 Total revenueRelated to mission $33,825,373 · Unrelated business −$58 · Excluded from tax −$110,908$38,441,453

Part IX · Statement of functional expenses $36,371,492 across 19 lines filed

IX-2 Grants to domestic individualsPrograms $3,428,522$3,428,522

IX-5 Pay of current officers, directors and key staffPrograms $462,600 · Management $850,453$1,313,053

IX-7 Other salaries and wagesPrograms $14,722,481 · Management $1,368,799 · Fundraising $709,632$16,800,912

IX-8 Pension plan contributionsPrograms $711,891 · Management $114,278 · Fundraising $35,498$861,667

IX-9 Other employee benefitsPrograms $1,475,592 · Management $155,101 · Fundraising $49,747$1,680,440

IX-10 Payroll taxesPrograms $1,074,345 · Management $173,486 · Fundraising $58,479$1,306,310

IX-11b Legal feesManagement $40,841$40,841

IX-11c Accounting feesManagement $86,818$86,818

IX-11f Investment management feesManagement $93$93

IX-11g Other fees for servicesPrograms $920,204 · Management $51,368$971,572

IX-12 Advertising and promotionPrograms $16,940 · Management $63,139$80,079

IX-13 Office expensesManagement $255,433$255,433

IX-14 Information technologyPrograms $188,445 · Management $214,830$403,275

IX-16 OccupancyPrograms $2,677,158 · Management $59,768 · Fundraising $12,347$2,749,273

IX-19 Conferences, conventions and meetingsPrograms $100,813$100,813

IX-20 InterestPrograms $725,635 · Management $14,885 · Fundraising $3,721$744,241

IX-22 Depreciation, depletion and amortizationPrograms $3,021,045 · Management $61,970 · Fundraising $15,492$3,098,507

IX-23 InsurancePrograms $270,730 · Management $8,856 · Fundraising $2,214$281,800

IX-24 Other expenses (24a–d)Programs $1,766,882 · Management $313,217 · Fundraising $87,744$2,167,843

IX-25 Total functional expensesPrograms $31,563,283 · Management $3,833,335 · Fundraising $974,874$36,371,492

Part X · Balance sheet $99,531,938 assets, 18 lines filed

X-1 Cash, non-interest-bearingStart of year $27,760,866$20,022,097

X-3 Pledges and grants receivableStart of year $11,633,757$5,974,316

X-4 Accounts receivableStart of year $2,665,399$13,100,986

X-8 Inventories for sale or useStart of year $265,707$224,432

X-9 Prepaid expenses and deferred chargesStart of year $1,712,715$1,972,722

X-10c Land, buildings and equipment, netStart of year $41,737,972$58,126,753

X-15 Other assetsStart of year $110,632$110,632

X-16 Total assetsStart of year $85,887,048$99,531,938

X-17 Accounts payable and accrued expensesStart of year $6,359,008$6,392,704

X-19 Deferred revenueStart of year $18,746,990$31,877,398

X-20 Tax-exempt bond liabilitiesStart of year $19,421,468$18,607,484

X-24 Unsecured notes and loans payableStart of year $1,000,000$750,000

X-25 Other liabilitiesStart of year $2,161,646$1,153,405

X-26 Total liabilitiesStart of year $47,689,112$58,780,991

X-27 Net assets without donor restrictionsStart of year $14,763,275$38,599,103

X-28 Net assets with donor restrictionsStart of year $23,434,661$2,151,844

X-32 Total net assets or fund balancesStart of year $38,197,936$40,750,947

X-33 Total liabilities and net assetsStart of year $85,887,048$99,531,938

Part XI · Reconciliation of net assets $40,750,947 net assets at year end

XI-1 Total revenue$38,441,453

XI-2 Total expenses$36,371,492

XI-3 Revenue less expenses$2,069,961

XI-4 Net assets at start of year$38,197,936

XI-5 Net unrealized gains (losses) on investments−$5,190

XI-9 Other changes in net assets$488,240

XI-10 Net assets at end of year$40,750,947

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

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Parish Episcopal School FY2021 filing

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