Parish Episcopal School: FY2023 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

89 cents of each dollar spent went to programs.

89%

Program services 89% · $37.5M Management & general 9% · $4.0M Fundraising 2% · $830K

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

41 people listed on the 990; $1.7M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII

Dave Monaco Partial Year

Allen Meyer Family Head of School

$331,266Pt VII · Sec A

Michelle Lyon - Ex Officio

Associate Head of School

$289,703Pt VII · Sec A

J Mark Kirkpatrick

Chief Financial Officer

$250,364Pt VII · Sec A

Jennifer Wilson

Head of Middle School and Asst. Head of School

$172,083Pt VII · Sec A

Amy Ariagno

Director of Finance

$149,640Pt VII · Sec A

Ahmad Ajami

Assistant Director of Athletics

$147,642Pt VII · Sec A

Brett McCabe Partial Year

Director of Athletics

$131,390Pt VII · Sec A

Andrew Jennings

Head of Upper School

$129,605Pt 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 · $37.5M · in their own filed words · FY2022

01

During the fiscal year ended june 30, 2023, parish episcopal school provided quality educational services to approximately 1,182 students in grades preschool through twelfth grade.

$37.5Mprogram 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

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 FY2023 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$43.9M

Ln 12

Fees for servicesLn 2g$40.1M

Gifts and grantsLn 1h$3.4M

Other incomeLn 4–11$206K

Money outPt IX

$42.3M

Ln 25

Programscol B$37.5M

Managementcol C$4.0M

Fundraisingcol D$830K

Owns and owesPt X

$44.8M

net assets · Ln 32

Cash and savingsLn 1–2$25.1M

Total assetsLn 16$101.0M

LiabilitiesLn 26$56.2M

PeoplePt VI, VII

41

listed · VII A

PaidVII A9

Voting boardVI 1a31

IndependentVI 1b31

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$3.4M

Noncash giftsLn 1g$54K

Fundraising eventsLn 1c$217K

Fees for servicesLn 2g$40.1M

Investment incomeLn 3$142K

Other incomeLn 4–11$206K

Gains on assetsLn 7−$192K

Total revenueLn 12$43.9M

Assets in detailPt X, end of year

CashLn 1$18.2M

SavingsLn 2$6.9M

Cash and savings togetherLn 1–2$25.1M

Land, buildings, equipmentLn 10c$55.1M

Other assetsLn 15$813K

Total assetsLn 16$101.0M

LiabilitiesLn 26$56.2M

Net assetsLn 32$44.8M

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 FY23	End FY23
Cash and savingsLn 1–2	$22.0M	$25.1M
Land, buildings, equipmentLn 10c	$56.0M	$55.1M
Total assetsLn 16	$98.3M	$101.0M
LiabilitiesLn 26	$55.7M	$56.2M
Net assetsLn 32	$42.6M	$44.8M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$30K	$30K
Grants to domestic individualsLn 2	$3.9M	$3.9M
Pay of current officers, directors and key staffLn 5	$1.3M	$857K	$481K
Other salaries and wagesLn 7	$18.0M	$16.1M	$1.3M	$533K
Pension plan contributionsLn 8	$959K	$808K	$119K	$31K
Other employee benefitsLn 9	$2.8M	$2.4M	$390K	$79K
Payroll taxesLn 10	$1.4M	$1.2M	$144K	$44K
Legal feesLn 11b	$32K		$32K
Accounting feesLn 11c	$33K		$33K
Investment management feesLn 11f	$50		$50
Other fees for servicesLn 11g	$1.3M	$1.2M	$60K
Advertising and promotionLn 12	$74K	$5K	$69K
Office expensesLn 13	$239K		$239K
Information technologyLn 14	$433K	$207K	$225K
OccupancyLn 16	$3.0M	$2.9M	$62K	$13K
TravelLn 17	$489K	$489K	$585	$146
Conferences, conventions and meetingsLn 19	$103K	$103K
InterestLn 20	$708K	$690K	$14K	$4K
Depreciation, depletion and amortizationLn 22	$3.9M	$3.8M	$79K	$20K
InsuranceLn 23	$522K	$507K	$12K	$3K
Other expenses (24a–d)Ln 24	$3.1M	$2.3M	$703K	$104K
Total functional expensesLn 25	$42.3M	$37.5M	$4.0M	$830K

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 Viewing	$43.9M	$42.3M	$1.6M	$44.8M	990 PDF
FY2022	$42.5M	$41.6M	$821K	$42.6M	990 PDF
FY2021	$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 FY2023 990 (6 parts)

Part I · Summary $43,923,613 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $4,677,026$3,431,000

I-9 Program service revenuePrior year $37,584,972$40,145,387

I-10 Investment incomePrior year −$24,403$141,502

I-11 Other revenuePrior year $222,491$205,724

I-12 Total revenuePrior year $42,460,086$43,923,613

I-13 Grants and similar amounts paidPrior year $3,608,575$3,890,851

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

I-15 Salaries and benefitsPrior year $23,637,735$24,476,582

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

I-17 Other expensesPrior year $14,392,754$13,942,310

I-18 Total expensesPrior year $41,639,064$42,309,743

I-19 Revenue less expensesPrior year $821,022$1,613,870

Part VI · Governance 31 of 31 board members independent, no flags

VI-1a Voting members of the governing body31

VI-1b Independent voting members31

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 $43,923,613 across 13 lines filed

Lines not itemized here account for $364,105 of total revenue; see the IRS return.

VIII-1b Membership dues$281,502

VIII-1c Fundraising events$216,588

VIII-1d Related organizations$725,500

VIII-1f All other contributions, gifts and grants$2,207,410

VIII-1g Noncash contributions (included above)$54,103

VIII-1h Total contributions, gifts and grants$3,431,000

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $40,145,387$40,145,387

VIII-3 Investment incomeExcluded from tax $333,180$333,180

VIII-6 Net rental income or lossRelated to mission $34,028$34,028

VIII-7 Net gain or loss on sales of assetsRelated to mission −$191,678−$191,678

VIII-8 Net income from fundraising eventsExcluded from tax −$231,673−$231,673

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $39,264$39,264

VIII-12 Total revenueRelated to mission $40,361,464 · Unrelated business $682 · Excluded from tax $130,467$43,923,613

Part IX · Statement of functional expenses $42,309,743 across 21 lines filed

IX-1 Grants to domestic organizationsPrograms $30,000$30,000

IX-2 Grants to domestic individualsPrograms $3,860,851$3,860,851

IX-5 Pay of current officers, directors and key staffPrograms $856,664 · Management $480,773$1,337,437

IX-7 Other salaries and wagesPrograms $16,099,034 · Management $1,349,383 · Fundraising $532,716$17,981,133

IX-8 Pension plan contributionsPrograms $808,263 · Management $119,275 · Fundraising $31,072$958,610

IX-9 Other employee benefitsPrograms $2,351,236 · Management $390,500 · Fundraising $78,544$2,820,280

IX-10 Payroll taxesPrograms $1,191,425 · Management $144,197 · Fundraising $43,500$1,379,122

IX-11b Legal feesManagement $31,937$31,937

IX-11c Accounting feesManagement $33,067$33,067

IX-11f Investment management feesManagement $50$50

IX-11g Other fees for servicesPrograms $1,220,948 · Management $59,823$1,280,771

IX-12 Advertising and promotionPrograms $4,941 · Management $69,111$74,052

IX-13 Office expensesManagement $238,839$238,839

IX-14 Information technologyPrograms $207,134 · Management $225,394$432,528

IX-16 OccupancyPrograms $2,900,535 · Management $62,194 · Fundraising $13,134$2,975,863

IX-17 TravelPrograms $488,636 · Management $585 · Fundraising $146$489,367

IX-19 Conferences, conventions and meetingsPrograms $103,448$103,448

IX-20 InterestPrograms $690,368 · Management $14,161 · Fundraising $3,540$708,069

IX-22 Depreciation, depletion and amortizationPrograms $3,846,215 · Management $78,897 · Fundraising $19,724$3,944,836

IX-23 InsurancePrograms $507,114 · Management $12,287 · Fundraising $3,072$522,473

IX-24 Other expenses (24a–d)Programs $2,300,049 · Management $702,680 · Fundraising $104,281$3,107,010

IX-25 Total functional expensesPrograms $37,466,861 · Management $4,013,153 · Fundraising $829,729$42,309,743

Part X · Balance sheet $101,035,294 assets, 19 lines filed

X-1 Cash, non-interest-bearingStart of year $21,967,147$18,179,316

X-2 Savings and temporary cash investments$6,875,559

X-3 Pledges and grants receivableStart of year $4,056,374$2,012,784

X-4 Accounts receivableStart of year $14,031,480$16,014,538

X-8 Inventories for sale or useStart of year $189,919$272,053

X-9 Prepaid expenses and deferred chargesStart of year $1,914,099$1,801,719

X-10c Land, buildings and equipment, netStart of year $56,018,335$55,066,673

X-15 Other assetsStart of year $75,648$812,652

X-16 Total assetsStart of year $98,253,002$101,035,294

X-17 Accounts payable and accrued expensesStart of year $2,413,987$2,993,713

X-19 Deferred revenueStart of year $34,265,943$35,925,119

X-20 Tax-exempt bond liabilitiesStart of year $17,837,990$16,829,260

X-24 Unsecured notes and loans payableStart of year $510,050$273,450

X-25 Other liabilitiesStart of year $649,825$177,062

X-26 Total liabilitiesStart of year $55,677,795$56,198,604

X-27 Net assets without donor restrictionsStart of year $39,171,588$42,068,465

X-28 Net assets with donor restrictionsStart of year $3,403,619$2,768,225

X-32 Total net assets or fund balancesStart of year $42,575,207$44,836,690

X-33 Total liabilities and net assetsStart of year $98,253,002$101,035,294

Part XI · Reconciliation of net assets $44,836,690 net assets at year end

XI-1 Total revenue$43,923,613

XI-2 Total expenses$42,309,743

XI-3 Revenue less expenses$1,613,870

XI-4 Net assets at start of year$42,575,207

XI-5 Net unrealized gains (losses) on investments−$3,929

XI-9 Other changes in net assets$651,542

XI-10 Net assets at end of year$44,836,690

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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Parish Episcopal School FY2023 filing

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