Parish Episcopal School: FY2024 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

88 cents of each dollar spent went to programs.

88%

Program services 88% · $40.4M Management & general 10% · $4.7M Fundraising 2% · $1.0M

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

39 people listed on the 990; $1.9M 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

Michelle Lyon

Associate Head of School

$368,708Pt VII · Sec A

J Mark Kirkpatrick

Chief Financial Officer

$261,980Pt VII · Sec A

Matthew Rush

Allen Meyer Family Head of School

$237,139Pt VII · Sec A

Jennifer Wilson

Head of Middle School and Assistant Head of School

$184,029Pt VII · Sec A

Amy Ariagno

Director of Finance

$156,563Pt VII · Sec A

Ahmad Ajami

Assistant Director of Athletics

$141,284Pt VII · Sec A

Andrew Jennings

Head of Upper School

$137,698Pt VII · Sec A

Jesse Rodriguez

Building Engineer

$128,692Pt 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 · $40.4M · in their own filed words · FY2023

01

During the fiscal year ended june 30, 2024, parish episcopal school provided quality educational services to approximately 1,194 students in grades preschool through twelfth grade.

$40.4Mprogram 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 FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$47.6M

Ln 12

Fees for servicesLn 2g$42.3M

Gifts and grantsLn 1h$4.0M

Investment incomeLn 3$675K

Money outPt IX

$46.1M

Ln 25

Programscol B$40.4M

Managementcol C$4.7M

Fundraisingcol D$1.0M

Owns and owesPt X

$45.3M

net assets · Ln 32

Cash and savingsLn 1–2$27.5M

Total assetsLn 16$103.6M

LiabilitiesLn 26$58.3M

PeoplePt VI, VII

39

listed · VII A

PaidVII A10

Voting boardVI 1a27

IndependentVI 1b27

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$4.0M

Noncash giftsLn 1g$40K

Fundraising eventsLn 1c$204K

Fees for servicesLn 2g$42.3M

Investment incomeLn 3$675K

Other incomeLn 4–11$668K

Gains on assetsLn 7−$168K

Total revenueLn 12$47.6M

Assets in detailPt X, end of year

CashLn 1$19.4M

SavingsLn 2$8.1M

Cash and savings togetherLn 1–2$27.5M

Land, buildings, equipmentLn 10c$53.5M

Other assetsLn 15$679K

Total assetsLn 16$103.6M

LiabilitiesLn 26$58.3M

Net assetsLn 32$45.3M

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 FY24	End FY24
Cash and savingsLn 1–2	$25.1M	$27.5M
Land, buildings, equipmentLn 10c	$55.1M	$53.5M
Total assetsLn 16	$101.0M	$103.6M
LiabilitiesLn 26	$56.2M	$58.3M
Net assetsLn 32	$44.8M	$45.3M

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	$4.4M	$4.4M
Pay of current officers, directors and key staffLn 5	$1.6M	$1.0M	$566K
Other salaries and wagesLn 7	$19.7M	$17.3M	$1.7M	$684K
Pension plan contributionsLn 8	$1.0M	$856K	$131K	$38K
Other employee benefitsLn 9	$3.1M	$2.6M	$431K	$94K
Payroll taxesLn 10	$1.5M	$1.3M	$168K	$52K
Legal feesLn 11b	$33K		$33K
Accounting feesLn 11c	$39K		$39K
Investment management feesLn 11f	$42		$42
Other fees for servicesLn 11g	$1.4M	$1.4M	$61K
Advertising and promotionLn 12	$81K	$3K	$77K
Office expensesLn 13	$268K		$268K
Information technologyLn 14	$458K	$191K	$267K
OccupancyLn 16	$3.3M	$3.2M	$68K	$15K
TravelLn 17	$435K	$434K	$465	$116
Conferences, conventions and meetingsLn 19	$157K	$157K
InterestLn 20	$661K	$644K	$13K	$3K
Depreciation, depletion and amortizationLn 22	$4.1M	$4.0M	$83K	$21K
InsuranceLn 23	$612K	$593K	$15K	$4K
Other expenses (24a–d)Ln 24	$3.1M	$2.2M	$753K	$112K
Total functional expensesLn 25	$46.1M	$40.4M	$4.7M	$1.0M

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 Viewing	$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	$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 R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations

See the full FY2024 990 (6 parts)

Part I · Summary $47,622,294 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $3,431,000$3,980,070

I-9 Program service revenuePrior year $40,145,387$42,299,912

I-10 Investment incomePrior year $141,502$674,812

I-11 Other revenuePrior year $205,724$667,500

I-12 Total revenuePrior year $43,923,613$47,622,294

I-13 Grants and similar amounts paidPrior year $3,890,851$4,434,518

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

I-15 Salaries and benefitsPrior year $24,476,582$26,907,945

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

I-17 Other expensesPrior year $13,942,310$14,716,549

I-18 Total expensesPrior year $42,309,743$46,059,012

I-19 Revenue less expensesPrior year $1,613,870$1,563,282

Part VI · Governance 27 of 27 board members independent, no flags

VI-1a Voting members of the governing body27

VI-1b Independent voting members27

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 $47,622,294 across 13 lines filed

Lines not itemized here account for $408,568 of total revenue; see the IRS return.

VIII-1b Membership dues$269,243

VIII-1c Fundraising events$203,574

VIII-1d Related organizations$750,444

VIII-1f All other contributions, gifts and grants$2,756,809

VIII-1g Noncash contributions (included above)$39,552

VIII-1h Total contributions, gifts and grants$3,980,070

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $42,299,912$42,299,912

VIII-3 Investment incomeExcluded from tax $842,676$842,676

VIII-6 Net rental income or lossRelated to mission $30,471$30,471

VIII-7 Net gain or loss on sales of assetsRelated to mission −$167,864−$167,864

VIII-8 Net income from fundraising eventsExcluded from tax −$118,023−$118,023

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $346,484$346,484

VIII-12 Total revenueRelated to mission $42,879,215 · Unrelated business $258 · Excluded from tax $762,751$47,622,294

Part IX · Statement of functional expenses $46,059,012 across 21 lines filed

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

IX-2 Grants to domestic individualsPrograms $4,404,518$4,404,518

IX-5 Pay of current officers, directors and key staffPrograms $1,020,172 · Management $566,313$1,586,485

IX-7 Other salaries and wagesPrograms $17,267,174 · Management $1,705,049 · Fundraising $683,665$19,655,888

IX-8 Pension plan contributionsPrograms $855,921 · Management $130,907 · Fundraising $38,156$1,024,984

IX-9 Other employee benefitsPrograms $2,612,928 · Management $430,606 · Fundraising $94,067$3,137,601

IX-10 Payroll taxesPrograms $1,282,550 · Management $168,347 · Fundraising $52,090$1,502,987

IX-11b Legal feesManagement $33,470$33,470

IX-11c Accounting feesManagement $39,203$39,203

IX-11f Investment management feesManagement $42$42

IX-11g Other fees for servicesPrograms $1,385,396 · Management $61,075$1,446,471

IX-12 Advertising and promotionPrograms $3,249 · Management $77,441$80,690

IX-13 Office expensesManagement $267,553$267,553

IX-14 Information technologyPrograms $190,660 · Management $266,895$457,555

IX-16 OccupancyPrograms $3,224,790 · Management $67,715 · Fundraising $14,574$3,307,079

IX-17 TravelPrograms $434,142 · Management $465 · Fundraising $116$434,723

IX-19 Conferences, conventions and meetingsPrograms $157,315$157,315

IX-20 InterestPrograms $644,412 · Management $13,218 · Fundraising $3,305$660,935

IX-22 Depreciation, depletion and amortizationPrograms $4,025,363 · Management $82,572 · Fundraising $20,643$4,128,578

IX-23 InsurancePrograms $593,102 · Management $14,821 · Fundraising $3,705$611,628

IX-24 Other expenses (24a–d)Programs $2,226,464 · Management $753,174 · Fundraising $111,669$3,091,307

IX-25 Total functional expensesPrograms $40,358,156 · Management $4,678,866 · Fundraising $1,021,990$46,059,012

Part X · Balance sheet $103,630,105 assets, 19 lines filed

X-1 Cash, non-interest-bearingStart of year $18,179,316$19,379,680

X-2 Savings and temporary cash investmentsStart of year $6,875,559$8,124,871

X-3 Pledges and grants receivableStart of year $2,012,784$1,209,657

X-4 Accounts receivableStart of year $16,014,538$17,069,130

X-8 Inventories for sale or useStart of year $272,053$232,591

X-9 Prepaid expenses and deferred chargesStart of year $1,801,719$3,442,724

X-10c Land, buildings and equipment, netStart of year $55,066,673$53,492,892

X-15 Other assetsStart of year $812,652$678,560

X-16 Total assetsStart of year $101,035,294$103,630,105

X-17 Accounts payable and accrued expensesStart of year $2,993,713$2,833,224

X-19 Deferred revenueStart of year $35,925,119$37,391,672

X-20 Tax-exempt bond liabilitiesStart of year $16,829,260$15,505,602

X-24 Unsecured notes and loans payableStart of year $273,450$0

X-25 Other liabilitiesStart of year $177,062$2,558,374

X-26 Total liabilitiesStart of year $56,198,604$58,288,872

X-27 Net assets without donor restrictionsStart of year $42,068,465$42,507,365

X-28 Net assets with donor restrictionsStart of year $2,768,225$2,833,868

X-32 Total net assets or fund balancesStart of year $44,836,690$45,341,233

X-33 Total liabilities and net assetsStart of year $101,035,294$103,630,105

Part XI · Reconciliation of net assets $45,341,233 net assets at year end

XI-1 Total revenue$47,622,294

XI-2 Total expenses$46,059,012

XI-3 Revenue less expenses$1,563,282

XI-4 Net assets at start of year$44,836,690

XI-5 Net unrealized gains (losses) on investments$8,655

XI-9 Other changes in net assets−$1,067,394

XI-10 Net assets at end of year$45,341,233

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

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Parish Episcopal School FY2024 filing

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