We inspire tomorrow's ethical leaders by developing character, seeking knowledge, and building a community of lifelong learners from the heart of the colorado mountains to the world beyond.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
Run by 400 volunteers and 153 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $952K a year · 5% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.0M
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
4 mo
of spending, in cash
Looks good: 4.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $44K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$29.0M
49% of total assets
Looks good: liabilities are 49% of assets; 50% or less.
Pt X · Ln 26
Independent board members
19
of 20 voting members
Looks good: 19 of 20 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$18.1M
+3% vs prior year
Spent
$17.4M
To programs
81%
Net assets
$30.3M
By yearFY2021–FY2025
Revenue
$18.1M
FY2025▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2021$18.0M
FY2022$18.5M
FY2023$17.3M
FY2024$17.5M
FY2025$18.1M
Expenses
$17.4M
FY2025▼ -0.7%
Tap a bar for its year
Expenses by fiscal year
FY2021$16.2M
FY2022$16.2M
FY2023$17.3M
FY2024$17.5M
FY2025$17.4M
Net assets
$30.3M
FY2025▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2021$25.2M
FY2022$23.7M
FY2023$25.3M
FY2024$28.1M
FY2025$30.3M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1970.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $14.1M Management & general 16% · $2.8M Fundraising 2% · $432K

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

26 people listed on the 990; $1.0M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
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 50th percentile of top reported officer pay among 3683 $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

NameFY2025FY2024FY2023FY2022FY2021
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.

See Vail Mountain 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

Prepares students intellectually, emotionally, and ethically to thrive in college.

Questions for Vail Mountain School

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Provided by the organization

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2 programs · $14.1M · in their 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

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

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

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$18.1M
Ln 12
Fees for servicesLn 2g$14.0M
Investment incomeLn 3$2.3M
Gifts and grantsLn 1h$1.9M
Money outPt IX
$17.4M
Ln 25
Programscol B$14.1M
Managementcol C$2.8M
Fundraisingcol D$432K
Owns and owesPt X
$30.3M
net assets · Ln 32
Cash and savingsLn 1–2$5.8M
Total assetsLn 16$59.3M
LiabilitiesLn 26$29.0M
PeoplePt VI, VII
26
listed · VII A
PaidVII A7
Voting boardVI 1a20
IndependentVI 1b19
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.9M
Noncash giftsLn 1g$52K
Fundraising eventsLn 1c$575K
Fees for servicesLn 2g$14.0M
Investment incomeLn 3$2.3M
Gains on assetsLn 7$1.1M
Total revenueLn 12$18.1M
Assets in detailPt X, end of year
CashLn 1$3.1M
SavingsLn 2$2.7M
Cash and savings togetherLn 1–2$5.8M
InvestmentsLn 11–13$30.9M
Land, buildings, equipmentLn 10c$16.9M
Total assetsLn 16$59.3M
LiabilitiesLn 26$29.0M
Net assetsLn 32$30.3M
OperationsPt I, VI
EmployeesI 5153
VolunteersI 6400
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
LineStart FY25End FY25
Cash and savingsLn 1–2$5.1M$5.8M
InvestmentsLn 11–13$29.2M$30.9M
Land, buildings, equipmentLn 10c$17.4M$16.9M
Total assetsLn 16$56.8M$59.3M
LiabilitiesLn 26$28.8M$29.0M
Net assetsLn 32$28.1M$30.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$2.0M$2.0M
Pay of current officers, directors and key staffLn 5$1.0M$411K$374K$215K
Other salaries and wagesLn 7$5.7M$4.6M$1.1M
Other employee benefitsLn 9$3.1M$2.3M$699K$100K
Legal feesLn 11b$17K$17K
Accounting feesLn 11c$45K$45K
Professional fundraising feesLn 11e$40K$40K
Investment management feesLn 11f$141K$141K
Advertising and promotionLn 12$305K$32K$272K$1K
Office expensesLn 13$75K$52K$21K$2K
Information technologyLn 14$168K$145K$20K$4K
OccupancyLn 16$610K$585K$19K$6K
TravelLn 17$30K$30K
Conferences, conventions and meetingsLn 19$9K$8K$1K$244
InterestLn 20$843K$809K$25K$8K
Depreciation, depletion and amortizationLn 22$1.2M$1.2M$36K$12K
InsuranceLn 23$255K$245K$8K$3K
Other expenses (24a–d)Ln 24$1.7M$1.7M
All other expensesLn 24e$139K$49K$48K$42K
Total functional expensesLn 25$17.4M$14.1M$2.8M$432K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $18.1M$17.4M$721K$30.3M 990 PDF
FY2024 $17.5M$17.5M$10K$28.1M 990 PDF
FY2023 $17.3M$17.3M−$23K$25.3M 990 PDF
FY2022 $18.5M$16.2M$2.3M$23.7M 990 PDF
FY2021 $18.0M$16.2M$1.8M$25.2M 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 FY2025 990 (6 parts)
Part I · Summary $18,103,155 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,836,462$1,913,821
I-9 Program service revenuePrior year $14,626,868$13,950,744
I-10 Investment incomePrior year $922,537$2,250,290
I-11 Other revenuePrior year $130,695−$11,700
I-12 Total revenuePrior year $17,516,562$18,103,155
I-13 Grants and similar amounts paidPrior year $1,753,800$2,031,134
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $10,079,475$9,804,464
I-16a Professional fundraising feesPrior year $0$40,000
I-17 Other expensesPrior year $5,673,143$5,506,803
I-18 Total expensesPrior year $17,506,418$17,382,401
I-19 Revenue less expensesPrior year $10,144$720,754
Part VI · Governance 19 of 20 board members independent, no flags
VI-1a Voting members of the governing body20
VI-1b Independent voting members19
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 $18,103,155 across 10 lines filed
VIII-1c Fundraising events$575,189
VIII-1f All other contributions, gifts and grants$1,338,632
VIII-1g Noncash contributions (included above)$52,459
VIII-1h Total contributions, gifts and grants$1,913,821
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $13,950,744$13,950,744
VIII-3 Investment incomeExcluded from tax $1,130,677$1,130,677
VIII-6 Net rental income or lossExcluded from tax $47,042$47,042
VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,119,613$1,119,613
VIII-8 Net income from fundraising eventsExcluded from tax −$58,742−$58,742
VIII-12 Total revenueRelated to mission $13,950,744 · Unrelated business $0 · Excluded from tax $2,238,590$18,103,155
Part IX · Statement of functional expenses $17,382,401 across 19 lines filed
IX-2 Grants to domestic individualsPrograms $2,031,134$2,031,134
IX-5 Pay of current officers, directors and key staffPrograms $411,200 · Management $374,404 · Fundraising $214,912$1,000,516
IX-7 Other salaries and wagesPrograms $4,642,308 · Management $1,078,911$5,721,219
IX-9 Other employee benefitsPrograms $2,283,861 · Management $699,224 · Fundraising $99,644$3,082,729
IX-11b Legal feesManagement $16,961$16,961
IX-11c Accounting feesManagement $44,590$44,590
IX-11e Professional fundraising feesFundraising $40,000$40,000
IX-11f Investment management feesManagement $140,859$140,859
IX-12 Advertising and promotionPrograms $32,275 · Management $271,666 · Fundraising $1,028$304,969
IX-13 Office expensesPrograms $52,302 · Management $21,415 · Fundraising $1,666$75,383
IX-14 Information technologyPrograms $144,556 · Management $19,608 · Fundraising $3,502$167,666
IX-16 OccupancyPrograms $584,910 · Management $19,077 · Fundraising $6,358$610,345
IX-17 TravelPrograms $29,544$29,544
IX-19 Conferences, conventions and meetingsPrograms $7,661 · Management $1,366 · Fundraising $244$9,271
IX-20 InterestPrograms $809,392 · Management $25,294 · Fundraising $8,431$843,117
IX-22 Depreciation, depletion and amortizationPrograms $1,155,287 · Management $36,103 · Fundraising $12,034$1,203,424
IX-23 InsurancePrograms $244,832 · Management $7,651 · Fundraising $2,550$255,033
IX-24 Other expenses (24a–d)Programs $1,666,661$1,666,661
IX-24e All other expensesPrograms $49,418 · Management $47,843 · Fundraising $41,719$138,980
IX-25 Total functional expensesPrograms $14,145,341 · Management $2,804,972 · Fundraising $432,088$17,382,401
Part X · Balance sheet $59,251,411 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year −$24,833$3,077,948
X-2 Savings and temporary cash investmentsStart of year $5,147,335$2,742,024
X-3 Pledges and grants receivableStart of year $334,939$718,441
X-4 Accounts receivableStart of year $4,549,951$4,707,390
X-9 Prepaid expenses and deferred chargesStart of year $217,979$235,104
X-10c Land, buildings and equipment, netStart of year $17,443,795$16,900,570
X-11 Publicly traded securitiesStart of year $29,016,877$30,729,312
X-12 Other securitiesStart of year $162,062$140,622
X-16 Total assetsStart of year $56,848,105$59,251,411
X-17 Accounts payable and accrued expensesStart of year $947,677$1,159,352
X-19 Deferred revenueStart of year $9,616,685$10,049,119
X-20 Tax-exempt bond liabilitiesStart of year $17,638,540$17,247,428
X-26 Total liabilitiesStart of year $28,794,902$28,991,899
X-27 Net assets without donor restrictionsStart of year $19,003,324$19,877,775
X-28 Net assets with donor restrictionsStart of year $9,049,879$10,381,737
X-32 Total net assets or fund balancesStart of year $28,053,203$30,259,512
X-33 Total liabilities and net assetsStart of year $56,848,105$59,251,411
Part XI · Reconciliation of net assets $30,259,512 net assets at year end
XI-1 Total revenue$18,103,155
XI-2 Total expenses$17,382,401
XI-3 Revenue less expenses$720,754
XI-4 Net assets at start of year$28,053,203
XI-5 Net unrealized gains (losses) on investments$1,485,555
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$30,259,512

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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