Santa Fe Preparatory School: Nonprofit Profile, Financials & Form 990 (EIN 85-0165745)

Revenue by fiscal year
FY2020	$14.9M
FY2021	$36.1M
FY2022	$20.7M
FY2023	$15.2M
FY2024	$11.0M
FY2025	$21.8M

Expenses by fiscal year
FY2020	$16.6M
FY2021	$19.2M
FY2022	$21.2M
FY2023	$19.7M
FY2024	$19.4M
FY2025	$34.5M

Net assets by fiscal year
FY2020	$37.6M
FY2021	$58.7M
FY2022	$52.7M
FY2023	$49.5M
FY2024	$42.1M
FY2025	$31.0M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1963.

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

Where the money goes

91 cents of each dollar spent went to programs.

91%

Program services 91% · $31.4M Management & general 8% · $2.7M Fundraising 1% · $417K

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

Something off? Claim to add context

Who runs it and what they're paid

23 people listed on the 990; $970K 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

Aaron Schubach

Head of Scho

$336,784Pt VII · Sec A

Bruce Sachs

CFO

$144,079Pt VII · Sec A

Ashley Satterthwaite

Asst. Head O

$131,482Pt VII · Sec A

John Utsey

Director of

$131,111Pt VII · Sec A

Michael McNeill

Advancement

$125,515Pt VII · Sec A

Sam Ritter

Davis Schol.

$101,227Pt VII · Sec A

Liz Bremner

Trustee

$0Pt VII · Sec A

Randy Dry

Trustee

$0Pt VII · Sec A

Aaron Schubach’s $337K as Head of Scho is at the 71st 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

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
James Leonard	—	—	—	—	$843,276	$248,251
Aaron Schubach	$336,784	$314,862	$284,784	$274,227	$149,492	—
Bruce Sachs	$144,079	$131,221	—	$120,679	$116,711	$112,612
Susan Matthews	—	—	—	—	$135,471	$131,962
Ashley Satterthwaite	$131,482	—	—	—	—	—
John Utsey	$131,111	$120,415	—	$112,927	$110,189	$106,941
Michael McNeill	$125,515	$130,172	—	—	—	—
Catherine McKenzie	—	$105,256	—	—	—	—

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 Santa Fe Preparatory School executive salaries →

On this list? Claim this org

Something off? Claim to add context

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

Educates students in grades 7-12 for college success.

Questions for Santa Fe Preparatory School

Tap to ask. Santa Fe Preparatory School sees how many people are interested.

Your first name shows with your question. Santa Fe Preparatory School answers here, for everyone.

Provided by the organization

Know this org? Add your story

2 programs · $31.4M · in their own filed words · FY2024

01

Davis new mexico scholars and breakthrough santa fe (breakthrough): breakthrough is a prep program that assist students in grades 7 through 12 from underserved public schools to become the first in their families to go to college.

$23.1Mprogram expense

02

The school provides a college preparatory education to approximately 330 students in grades 7 through 12. The school also hosts the ee ford summer teachers colloquium serving approximately 40 teachers.

$8.3Mprogram 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

Robert Moody FoundationFY2025$500

Total grants receivedfrom 1 funder$500

Grants paid · 91 grants · $65.4M · 2019–2024

Unitemized GrantFY2024$21,985,587

Santa Fe Preparatory SchoolNM · FY2024$85,000

The Simon Charitable FoundationNM · FY2024$30,000

Upward Bound EspanolaFY2024$30,000

Highland High SchoolFY2024$15,000

The Masters ProgramFY2024$15,000

South Valley AcademyFY2024$15,000

Santa Fe Public Schools Avid PrograFY2024$15,000

Pojoaque Valley SchoolsFY2024$15,000

Navajo Preparatory School INCNM · FY2024$15,000

Academy for Technology andFY2024$15,000

University of DenverCO · FY2024$14,300

Naca-Inspired Schools NetworkNM · FY2024$9,000

St Edwards UniversityTX · FY2024$8,400

University of PortlandOR · FY2024$7,900

Occidental CollegeCA · FY2024$7,000

Southwestern UniversityTX · FY2024$5,600

Lawrence University of WisconsinWI · FY2024$5,100

See all 91 grants →

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$21.8M

Ln 12

Gifts and grantsLn 1h$9.8M

Fees for servicesLn 2g$8.5M

Investment incomeLn 3$3.4M

Money outPt IX

$34.5M

Ln 25

Programscol B$31.4M

Managementcol C$2.7M

Fundraisingcol D$417K

Owns and owesPt X

$31.0M

net assets · Ln 32

Cash and savingsLn 1–2$15.1M

Total assetsLn 16$73.1M

LiabilitiesLn 26$42.1M

PeoplePt VI, VII

23

listed · VII A

PaidVII A6

Voting boardVI 1a17

IndependentVI 1b17

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$9.8M

Fees for servicesLn 2g$8.5M

Investment incomeLn 3$3.4M

Other incomeLn 4–11$156K

Gains on assetsLn 7$2.6M

Total revenueLn 12$21.8M

Assets in detailPt X, end of year

CashLn 1$127K

SavingsLn 2$15.0M

Cash and savings togetherLn 1–2$15.1M

InvestmentsLn 11–13$33.4M

Land, buildings, equipmentLn 10c$8.1M

Other assetsLn 15$208K

Total assetsLn 16$73.1M

LiabilitiesLn 26$42.1M

Net assetsLn 32$31.0M

OperationsPt I, VI

EmployeesI 5155

VolunteersI 6100

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 FY25	End FY25
Cash and savingsLn 1–2	$14.5M	$15.1M
InvestmentsLn 11–13	$26.4M	$33.4M
Land, buildings, equipmentLn 10c	$7.8M	$8.1M
Total assetsLn 16	$65.9M	$73.1M
LiabilitiesLn 26	$23.8M	$42.1M
Net assetsLn 32	$42.1M	$31.0M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$310K	$310K
Grants to domestic individualsLn 2	$22.0M	$22.0M
Pay of current officers, directors and key staffLn 5	$504K	$351K	$137K	$17K
Other salaries and wagesLn 7	$6.1M	$4.2M	$1.6M	$199K
Other employee benefitsLn 9	$1.7M	$1.3M	$354K	$63K
Accounting feesLn 11c	$13K		$13K
Investment management feesLn 11f	$24K		$24K
Other fees for servicesLn 11g	$151K	$102K	$48K	$2K
Advertising and promotionLn 12	$164K		$118K	$45K
Office expensesLn 13	$131K	$43K	$16K	$71K
Information technologyLn 14	$251K	$171K	$80K
OccupancyLn 16	$179K	$179K
TravelLn 17	$238K	$237K	$695
Conferences, conventions and meetingsLn 19	$42K	$41K	$223	$1K
Depreciation, depletion and amortizationLn 22	$577K	$529K	$42K	$5K
InsuranceLn 23	$254K	$254K
Other expenses (24a–d)Ln 24	$1.6M	$1.4M	$160K	$3K
All other expensesLn 24e	$277K	$228K	$39K	$11K
Total functional expensesLn 25	$34.5M	$31.4M	$2.7M	$417K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$21.8M	$34.5M	−$12.7M	$31.0M	990 PDF
FY2024	$11.0M	$19.4M	−$8.4M	$42.1M	990 PDF
FY2023	$15.2M	$19.7M	−$4.5M	$49.5M	990 PDF
FY2022	$20.7M	$21.2M	−$548K	$52.7M	990 PDF
FY2021	$36.1M	$19.2M	$16.9M	$58.7M	990 PDF
FY2020	$14.9M	$16.6M	−$1.8M	$37.6M	990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $21,795,620 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,263,954$9,770,145

I-9 Program service revenuePrior year $8,033,190$8,480,565

I-10 Investment incomePrior year $1,711,700$3,388,613

I-11 Other revenuePrior year $6,479$156,297

I-12 Total revenuePrior year $11,015,323$21,795,620

I-13 Grants and similar amounts paidPrior year $7,647,613$22,295,750

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $8,055,857$8,304,085

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $3,734,990$3,911,345

I-18 Total expensesPrior year $19,438,460$34,511,180

I-19 Revenue less expensesPrior year −$8,423,137−$12,715,560

Part VI · Governance 17 of 17 board members independent, no flags

VI-1a Voting members of the governing body17

VI-1b Independent voting members17

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 $21,795,620 across 9 lines filed

VIII-1f All other contributions, gifts and grants$9,770,145

VIII-1h Total contributions, gifts and grants$9,770,145

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $8,480,565$8,480,565

VIII-3 Investment incomeExcluded from tax $821,479$821,479

VIII-5 RoyaltiesExcluded from tax $24,919$24,919

VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,567,134$2,567,134

VIII-8 Net income from fundraising eventsExcluded from tax −$35,182−$35,182

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $166,560$166,560

VIII-12 Total revenueRelated to mission $8,480,565 · Excluded from tax $3,544,910$21,795,620

Part IX · Statement of functional expenses $34,511,180 across 18 lines filed

IX-1 Grants to domestic organizationsPrograms $310,163$310,163

IX-2 Grants to domestic individualsPrograms $21,985,587$21,985,587

IX-5 Pay of current officers, directors and key staffPrograms $350,823 · Management $136,778 · Fundraising $16,517$504,118

IX-7 Other salaries and wagesPrograms $4,221,323 · Management $1,649,000 · Fundraising $198,740$6,069,063

IX-9 Other employee benefitsPrograms $1,314,131 · Management $354,131 · Fundraising $62,642$1,730,904

IX-11c Accounting feesManagement $13,415$13,415

IX-11f Investment management feesManagement $23,866$23,866

IX-11g Other fees for servicesPrograms $101,658 · Management $47,806 · Fundraising $2,021$151,485

IX-12 Advertising and promotionManagement $118,284 · Fundraising $45,256$163,540

IX-13 Office expensesPrograms $43,408 · Management $15,813 · Fundraising $71,430$130,651

IX-14 Information technologyPrograms $170,800 · Management $80,129$250,929

IX-16 OccupancyPrograms $179,177$179,177

IX-17 TravelPrograms $237,003 · Management $695$237,698

IX-19 Conferences, conventions and meetingsPrograms $41,179 · Management $223 · Fundraising $1,037$42,439

IX-22 Depreciation, depletion and amortizationPrograms $528,903 · Management $42,368 · Fundraising $5,349$576,620

IX-23 InsurancePrograms $253,576$253,576

IX-24 Other expenses (24a–d)Programs $1,447,525 · Management $159,589 · Fundraising $3,379$1,610,493

IX-24e All other expensesPrograms $227,554 · Management $38,953 · Fundraising $10,949$277,456

IX-25 Total functional expensesPrograms $31,412,810 · Management $2,681,050 · Fundraising $417,320$34,511,180

Part X · Balance sheet $73,134,183 assets, 20 lines filed

Asset lines not itemized here account for $120,000; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $108,083$127,244

X-2 Savings and temporary cash investmentsStart of year $14,407,592$14,997,434

X-3 Pledges and grants receivableStart of year $16,693,783$11,492,693

X-4 Accounts receivableStart of year $120,881$4,128,393

X-9 Prepaid expenses and deferred chargesStart of year −$33,295$259,083

X-10c Land, buildings and equipment, netStart of year $7,843,998$8,072,716

X-11 Publicly traded securitiesStart of year $26,358,595$33,407,138

X-12 Other securitiesStart of year $18,705$14,760

X-14 Intangible assetsStart of year $94,638$306,488

X-15 Other assetsStart of year $207,870$208,234

X-16 Total assetsStart of year $65,907,214$73,134,183

X-17 Accounts payable and accrued expensesStart of year −$18,525$191,289

X-18 Grants payableStart of year $20,194,883$34,533,350

X-19 Deferred revenueStart of year $3,629,565$7,233,344

X-25 Other liabilities$146,348

X-26 Total liabilitiesStart of year $23,805,923$42,104,331

X-27 Net assets without donor restrictionsStart of year $11,091,335−$1,842,315

X-28 Net assets with donor restrictionsStart of year $31,009,956$32,872,167

X-32 Total net assets or fund balancesStart of year $42,101,291$31,029,852

X-33 Total liabilities and net assetsStart of year $65,907,214$73,134,183

Part XI · Reconciliation of net assets $31,029,852 net assets at year end

XI-1 Total revenue$21,795,620

XI-2 Total expenses$34,511,180

XI-3 Revenue less expenses−$12,715,560

XI-4 Net assets at start of year$42,101,291

XI-5 Net unrealized gains (losses) on investments−$80,593

XI-8 Prior period adjustments$1,724,714

XI-10 Net assets at end of year$31,029,852

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

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org