Vail Mountain School EIN 84-0533775

Vail Mountain School FY2022 filing

EIN  84-0533775 Public charity (501(c)(3)) Vail, CO Founded 1962
Form 990 (PDF)
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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
Michael Imperi · Head of School · $349K
Money in and out
$18.5M revenue, $16.2M expenses

Prepares students intellectually, emotionally, and ethically to thrive in college. For fiscal year 2022 it reported $18.5M in revenue, $16.2M in expenses, and $23.7M in net assets.Pt I

Where the money goes · FY2022
Total revenue
$18.5M
Pt VIII · Ln 12
Total expenses
$16.2M
Pt IX · Ln 25
Net assets
$23.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $2.3M
Where spending went · Part IX cols B–D
Program services $0.79 Management & general $0.18 Fundraising $0.03

Summary of the Filing

Part I · fiscal year 2022 · Form 990-T
Revenue
$18.5M
FY2022▲ +3%
Expenses
$16.2M
FY20220%
Total assets
$54.4M
FY2022▼ -4%
Total liabilities
$30.7M
FY2022▼ -2%
Total revenue
$18.5M
Pt VIII · Ln 12
Total expenses
$16.2M
Pt IX · Ln 25
Net assets
$23.7M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$2.3M
Total assetsPt X · Ln 16$54.4M
Program-expense ratioPt IX · col B79%
Voting members of governing bodyPt I · Ln 318
Independent voting membersPt I · Ln 417
Mission & Programs · Part III

Where the work happens

2 program services account for $12.9M of program spending, described in the organization's own filed words · FY2021.
01

Vail mountain school provides a sound academic education in a dynamic educational environment to 400+ students in grades kindergarten through twelve. The school also provides opportunities for personal exploration and interpersonal growth through its many co-curricular programs

$12.8Mprogram 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.

$35Kprogram 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 1a18
Independent voting membersPt VI · Ln 1b17
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 · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Head of School
$348,552Pt VII · Sec A
$154,001Pt VII · Sec A
Director of Advancement
$135,836Pt VII · Sec A
Director of Upper School
$125,247Pt VII · Sec A
Director of IT
$119,893Pt VII · Sec A
Director of Lower School
$118,439Pt VII · Sec A
Director
$0Pt VII · Sec A
Chair Person
$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$14.7M · 79%
Contributions & grants$2.5M · 13%
Investment income$1.4M · 7%
Program service revenue79%$14.7M
Contributions & grants13%$2.5M
Investment income7%$1.4M
Other revenue$15K
— government grantsLn 1e$567K
Total revenueLn 12$18.5M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.79 Management & general $0.18 Fundraising $0.03
Program services79%$12.9M
Management & general18%$2.9M
Fundraising3%$412K
Total functional expensesLn 25$16.2M

Balance Sheet

Part X · end of year
CashLn 1$5.8M
Total assetsLn 16$54.4M
Total liabilitiesLn 26$30.7M
Total net assetsLn 32$23.7M
Months of cash on handcomputed4.3

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 · viewing · ⤓ 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) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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