Vail Mountain School EIN 84-0533775

Vail Mountain School

EIN  84-0533775 Public charity (501(c)(3)) Vail, CO Founded 1962
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/11/26 · see original filing: IRS
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Size
$10–100M
What they do
Prepares students intellectually, emotionally, and ethically to thrive in college.
Leadership
Steve Bileca · Head of School and Directo · $242K
Money in and out
$18.1M revenue, $17.4M expenses
Bottom line
81% program efficiency

Prepares students intellectually, emotionally, and ethically to thrive in college. For fiscal year 2024 it reported $18.1M in revenue, $17.4M in expenses, and $30.3M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$18.1M
Pt VIII · Ln 12
Total expenses
$17.4M
Pt IX · Ln 25
Net assets
$30.3M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $721K
Where spending went · Part IX cols B–D
Program services $0.81 Management & general $0.16 Fundraising $0.02
Program efficiency
81%
of spending reaches programs▼ -2% vs prior filing year
Operating runway
25.4mo
months of highly liquid reserves at operating expense rate▲ +8% vs prior filing year
Surplus margin
+4%
revenue over expenses, this year▲ ×69 vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$18.1M
FY2024▲ +3%
Expenses
$17.4M
FY2024▼ -1%
Total assets
$59.3M
FY2024▲ +4%
Total liabilities
$29.0M
FY2024▲ +1%
Total revenue
$18.1M
Pt VIII · Ln 12
Total expenses
$17.4M
Pt IX · Ln 25
Net assets
$30.3M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$721K
Total assetsPt X · Ln 16$59.3M
Program-expense ratioPt IX · col B81%
Voting members of governing bodyPt I · Ln 320
Independent voting membersPt I · Ln 419
Mission & Programs · Part III

Where the work happens

2 program services account for $14.1M of program spending, described in the organization's own filed words · FY2024.
01

Vail mountain school provides a sound academic education in a dynamic educational environment to approximately 375 students in grades kindergarten through twelve. The school also provides opportunities for personal exploration and interpersonal growth through its many co-curricular programs

$14.1Mprogram expense
02

Summerquest is a summer academic program for public school students in eagle county with great potential, but who are in need of additional support and positive role models. Not only is it a way for VMS to give back to the local community, the program also serves to mentor college and high school students who are aspiring educators.

$37Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CVail Mountain School
EINHdr · item D84-0533775
Principal addressHdr · item CVail, CO
WebsiteHdr · item Jwww.vms.edu
Year of formationHdr · item L1962
State of legal domicileHdr · item MCO
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B24Z)
Ruling yearIRS BMFDec 1970

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a20
Independent voting membersPt VI · Ln 1b19
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Head of School and Directo
$242,024Pt VII · Sec A
$167,580Pt VII · Sec A
Director of Advancement
$136,476Pt VII · Sec A
Director of Upper School
$129,877Pt VII · Sec A
Director of IT
$126,541Pt VII · Sec A
Director of Middle School
$113,749Pt VII · Sec A
Director of Lower School
$110,989Pt VII · Sec A
Director
$0Pt VII · Sec A

Steve Bileca’s $242K as Head of School and Directo is at the 51st percentile of top reported officer pay among 3682 $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

NameFY2024FY2024FY2023FY2022FY2021
Michael Imperi$348,552$321,523
Steve Bileca$242,024$248,326$141,634
Mike Imperi$167,933
Kelly Young$167,580$161,142$154,471$154,001$143,132
Colleen Davis$136,476$136,476$130,586$135,836$117,229
Mary Pavlik$129,877$129,877$125,002$125,247$118,375
Dean Chambers$126,541$126,541$115,222$119,893$114,285
Kristin Douthitt$110,989$110,989$106,473$118,439

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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Statement of Revenue

Part VIII
Program service revenue$14.0M · 77%
Investment income$2.3M · 12%
Contributions & grants$1.9M · 11%
Program service revenue77%$14.0M
Investment income12%$2.3M
Contributions & grants11%$1.9M
Total revenueLn 12$18.1M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.81 Management & general $0.16 Fundraising $0.02
Program services81%$14.1M
Management & general16%$2.8M
Fundraising2%$432K
Total functional expensesLn 25$17.4M

Balance Sheet

Part X · end of year
CashLn 1$5.8M
Total assetsLn 16$59.3M
Total liabilitiesLn 26$29.0M
Total net assetsLn 32$30.3M
Months of cash on handcomputed4.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $36.7M · Operating expenses (Pt IX) $17.4M · Less non-cash grants $52K · Cash operating expenses/yr $17.3M
25.4 months
Where the money goes
Program services
Program services $14.1M · Total expenses $17.4M
81%
Management & General
Management & general $2.8M · Total expenses $17.4M
16%
Fundraising
Fundraising $432K · Total expenses $17.4M
2%
Cost to raise $1
Fundraising expense (3-yr avg) $412K · Solicited contributions (3-yr avg) $1.7M
$0.24 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.9M · Total revenue $18.1M
11%
Government reliance
Government grants — · Total revenue $18.1M
Earned-income share
Program service revenue $14.0M · Total revenue $18.1M
77%
Investment reliance
Investment income $2.3M · Total revenue $18.1M
+12%
Program self-sufficiency
Program service revenue $14.0M · Total expenses $17.4M
80%
Growth & trend
Revenue growth (YoY)
This year $18.1M · Prior year $17.5M
+3%
Revenue CAGR
FY2020 $18.0M · FY2024 $18.1M
0%
Net-asset trend (YoY)
End of year $30.3M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $18.1M · Expenses $17.4M
+4%
Liabilities-to-Assets
Total liabilities — · Total assets $59.3M
Net-asset ratio
Net assets $30.3M · Total assets $59.3M
51%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $30.7M · Other securities (Pt X, ln 12) $141K · Total assets (Pt X, ln 16) $59.3M
52%
People & payroll
Highest Reported Total Compensation
Individual Steve Bileca · Reported title HEAD OF SCHOOL AND DIRECTO · Highest reported compensation $242K · Total expenses $17.4M
1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $9.8M · Total expenses $17.4M
56%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 81%
Overhead ratio 16%
Fundraising cost ratio 23%
Revenue growth 3%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 2 funders$44K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$17.5M revenue · ⤓ 990 PDF
FY2023$17.3M revenue · ⤓ 990 PDF
FY2022$18.5M revenue · ⤓ 990 PDF
FY2021$18.0M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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