Middle Way School FY2023 filing

Tax-deductible

Saugerties, NY501(c)(3)Since 2018EducationEIN 83-0862436

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
$83K paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
1 of 3
filings with a surplus
Average surplus $57K a year · 3% of revenue · last 3 filings
Worth a look: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$83K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $706K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$77K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.8M
+60% vs prior year
Spent
$1.5M
To programs
76%
Net assets
$1.7M
By yearFY2022–FY2024
Revenue
$1.8M
FY2023▲ +60%
Revenue by fiscal year
FY2022$1.1M
FY2023$1.8M
FY2024$2.3M
FY2024$2.5M
Expenses
$1.5M
FY2023▲ +26%
Expenses by fiscal year
FY2022$1.2M
FY2023$1.5M
FY2024$2.4M
FY2024$2.8M
Net assets
$1.7M
FY2023▲ +21%
Net assets by fiscal year
FY2022$1.4M
FY2023$1.7M
FY2024$1.6M
FY2024$483K

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2019.

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

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $1.2M Management & general 24% · $370K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

8 people listed on the 990; $83K 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
Head of Scho
$83,315Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A

Grace Louis’s $93K as Head of School is at the 26th percentile of top reported officer pay among 3395 $1–10M 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 · 2 named individuals · Part VII

NameFY2024FY2024FY2023FY2022
Grace Louis$92,700———
Grace Louis—$92,700$83,315$74,414

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 Middle Way School executive salaries →

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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

Integrates Buddhist wisdom and compassion with progressive education to foster kind, wise, and disciplined students.

Provided by the organization

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1 program service account for $1.2M of program spending, described in the organization's own filed words · FY2022.
01

As one of the first buddhist elementary schools for children in the west, MWS is an independent progressive buddhist elementary school with approximately 100 students ages 3-12 enrolled in pre-k to 6TH grade. In tandem with the core dharma focus of the school's mission is a commitment to being an academically excellent school.

$1.2Mprogram 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 · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$706K
Grants paid · 1 grant · $461K · 2023–2023
Unitemized GrantFY2023$461,435

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$1.8M
Ln 12
Gifts and grantsLn 1h$1.0M
Fees for servicesLn 2g$806K
Investment incomeLn 3$524
Money outPt IX
$1.5M
Ln 25
Programscol B$1.2M
Managementcol C$370K
Owns and owesPt X
$1.7M
net assets · Ln 32
Cash and savingsLn 1–2$577K
Total assetsLn 16$1.7M
LiabilitiesLn 26$77K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.0M
Government grantsLn 1e$8K
Fees for servicesLn 2g$806K
Investment incomeLn 3$524
Total revenueLn 12$1.8M
Assets in detailPt X, end of year
CashLn 1$577K
Cash and savings togetherLn 1–2$577K
Land, buildings, equipmentLn 10c$1.1M
Total assetsLn 16$1.7M
LiabilitiesLn 26$77K
Net assetsLn 32$1.7M
OperationsPt I, VI
EmployeesI 537
VolunteersI 66
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$333K$577K
Land, buildings, equipmentLn 10c$1.1M$1.1M
Total assetsLn 16$1.4M$1.7M
LiabilitiesLn 26$49K$77K
Net assetsLn 32$1.4M$1.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$91K$69K$22K
Other salaries and wagesLn 7$989K$875K$115K
Other employee benefitsLn 9$17K$17K
Payroll taxesLn 10$105K$92K$13K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$13K$13K
Other fees for servicesLn 11g$14K$115$14K
Advertising and promotionLn 12$7K$254$7K
Office expensesLn 13$7K$2K$5K
Information technologyLn 14$5K$5K
OccupancyLn 16$28K$16K$12K
TravelLn 17$3K$462$2K
Depreciation, depletion and amortizationLn 22$33K$30K$3K
InsuranceLn 23$8K$2K$6K
Other expenses (24a–d)Ln 24$198K$79K$120K
All other expensesLn 24e$21K$4K$17K
Total functional expensesLn 25$1.5M$1.2M$370K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $2.3M$2.4M−$40K$1.6M 990 PDF
FY2023 Viewing $1.8M$1.5M$290K$1.7M 990 PDF
FY2022 $1.1M$1.2M−$78K$1.4M 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 (4 parts)
Part VIII · Statement of revenue $1,832,352 across 6 lines filed
VIII-1e Government grants$8,226
VIII-1f All other contributions, gifts and grants$1,017,474
VIII-1h Total contributions, gifts and grants$1,025,700
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $806,128$806,128
VIII-3 Investment incomeExcluded from tax $524$524
VIII-12 Total revenueRelated to mission $806,128 · Excluded from tax $524$1,832,352
Part IX · Statement of functional expenses $1,542,472 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $68,686 · Management $22,280$90,966
IX-7 Other salaries and wagesPrograms $874,661 · Management $114,502$989,163
IX-9 Other employee benefitsManagement $16,830$16,830
IX-10 Payroll taxesPrograms $91,836 · Management $13,316$105,152
IX-11b Legal feesPrograms $2,429$2,429
IX-11c Accounting feesManagement $13,000$13,000
IX-11g Other fees for servicesPrograms $115 · Management $13,924$14,039
IX-12 Advertising and promotionPrograms $254 · Management $6,725$6,979
IX-13 Office expensesPrograms $2,167 · Management $5,103$7,270
IX-14 Information technologyManagement $4,789$4,789
IX-16 OccupancyPrograms $16,436 · Management $11,553$27,989
IX-17 TravelPrograms $462 · Management $2,056$2,518
IX-22 Depreciation, depletion and amortizationPrograms $30,124 · Management $2,921$33,045
IX-23 InsurancePrograms $1,940 · Management $6,433$8,373
IX-24 Other expenses (24a–d)Programs $78,793 · Management $119,690$198,483
IX-24e All other expensesPrograms $4,255 · Management $17,192$21,447
IX-25 Total functional expensesPrograms $1,172,158 · Management $370,314 · Fundraising $0$1,542,472
Part X · Balance sheet $1,740,720 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $332,773$576,715
X-4 Accounts receivable$18,773
X-9 Prepaid expenses and deferred chargesStart of year $1,940$6,796
X-10c Land, buildings and equipment, netStart of year $1,088,002$1,138,436
X-16 Total assetsStart of year $1,422,715$1,740,720
X-17 Accounts payable and accrued expensesStart of year $12,750$34,982
X-19 Deferred revenueStart of year $36,000$41,893
X-26 Total liabilitiesStart of year $48,750$76,875
X-27 Net assets without donor restrictionsStart of year $1,373,965$1,397,195
X-28 Net assets with donor restrictions$266,650
X-32 Total net assets or fund balancesStart of year $1,373,965$1,663,845
X-33 Total liabilities and net assetsStart of year $1,422,715$1,740,720
Part XI · Reconciliation of net assets $1,663,845 net assets at year end
XI-1 Total revenue$1,832,352
XI-2 Total expenses$1,542,472
XI-3 Revenue less expenses$289,880
XI-4 Net assets at start of year$1,373,965
XI-10 Net assets at end of year$1,663,845

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

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