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Lucy School INC FY2024 filing

Tax-deductible

Middletown, MD501(c)(3)Education EIN 88-3903141Revenue $2.5M in FY2024

On file with the IRSlucyschool.com9117 Frostown Rd, 21769-9620 · Middletown, MDTax-exempt since Oct 2022School — 170(b)(1)(A)(ii)

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The purpose of Lucy School, INC. Is to operate and promote the ideals of an independent, non-sectarian educational institution that provides a challenging and unique arts-based education across all learning disciplines that honors individuals while stimulating and nurturing creativity, critical thinking, problem-solving, collaboration, confidence, empathy, and love of learning, all within joyful School culture that advances cares and respect for self, community, family, and the natural world.

501(c)(3) charity; gifts are tax-deductible.
67¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2024 · 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
3 of 3
filings with a surplus
Average surplus $155K a year · 8% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
67%
of spending
Fine: 67% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$394K
82% of total assets
Concern: liabilities are 82% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.5M
+129% vs prior year
Spent
$2.3M
To programs
67%
Net assets
$324K
By yearFY2023–FY2025
Revenue
$2.5M
FY2024▲ +129%
Tap a bar for its year
Revenue by fiscal year
FY2023$1.1M
FY2024$2.5M
FY2025$2.5M
Expenses
$2.3M
FY2024▲ +148%
Tap a bar for its year
Expenses by fiscal year
FY2023$923K
FY2024$2.3M
FY2025$2.3M
Net assets
$324K
FY2024▲ +112%
Tap a bar for its year
Net assets by fiscal year
FY2023$153K
FY2024$324K
FY2025$463K

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 2022.

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

Where the money goes

67 cents of each dollar spent went to programs.

Program services 67% · $1.5M Management & general 33% · $756K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
Gerri Chizeck
Vice Chair
$0Pt VII · Sec A
Anne Olesen
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Lucy School INC 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

Provides a unique, arts-based education fostering creativity, critical thinking, and empathy.

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Provided by the organization

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1 program · $1.5M · in their own filed words · FY2023
01

School

Education of children pre-kindergarten (age 3) to 8TH grade and professional development of teachers.

$1.5Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 7 grants · $222K · 2023–2023
Unitemized GrantFY2023$64,250
Missarmia Productions LLCFY2023$63,700
Cochran StudioFY2023$36,042
Unitemized GrantFY2023$18,450
Unitemized GrantFY2023$18,025
Unitemized GrantFY2023$15,850
Unitemized GrantFY2023$5,992

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.5M
Ln 12
Fees for servicesLn 2g$2.2M
Other incomeLn 4–11$262K
Gifts and grantsLn 1h$42K
Money outPt IX
$2.3M
Ln 25
Programscol B$1.5M
Managementcol C$756K
Owns and owesPt X
$324K
net assets · Ln 32
Cash and savingsLn 1–2$444K
Total assetsLn 16$482K
LiabilitiesLn 26$394K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$42K
Fees for servicesLn 2g$2.2M
Investment incomeLn 3$962
Other incomeLn 4–11$262K
Total revenueLn 12$2.5M
Assets in detailPt X, end of year
CashLn 1$142K
SavingsLn 2$302K
Cash and savings togetherLn 1–2$444K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$37K
Total assetsLn 16$482K
LiabilitiesLn 26$394K
Net assetsLn 32$324K
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$344K$444K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$379K$482K
LiabilitiesLn 26$226K$394K
Net assetsLn 32$153K$88K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$100K$100K
Grants to domestic individualsLn 2$123K$123K
Other salaries and wagesLn 7$1.2M$700K$467K
Pension plan contributionsLn 8$31K$19K$13K
Other employee benefitsLn 9$5K$3K$2K
Payroll taxesLn 10$107K$64K$43K
Accounting feesLn 11c$7K$2K$6K
Other fees for servicesLn 11g$17K$10K$7K
Office expensesLn 13$75K$33K$42K
Information technologyLn 14$2K$368$2K
OccupancyLn 16$420K$420K
InsuranceLn 23$15K$15K
Other expenses (24a–d)Ln 24$171K$37K$134K
All other expensesLn 24e$44K$17K$28K
Total functional expensesLn 25$2.3M$1.5M$756K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.5M$2.3M$138K$463K 990 PDF
FY2024 Viewing $2.5M$2.3M$174K$324K 990 PDF
FY2023 $1.1M$923K$153K$153K 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 O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $2,223,488 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $352,581$42,146
I-9 Program service revenuePrior year $722,801$2,154,017
I-10 Investment incomePrior year $884$962
I-11 Other revenuePrior year −$319$26,363
I-12 Total revenuePrior year $1,075,947$2,223,488
I-13 Grants and similar amounts paidPrior year $0$223,009
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $576,718$1,309,590
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $346,090$750,793
I-18 Total expensesPrior year $922,808$2,283,392
I-19 Revenue less expensesPrior year $153,139−$59,904
Part VI · Governance 6 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,223,488 across 6 lines filed
VIII-1f All other contributions, gifts and grants$42,146
VIII-1h Total contributions, gifts and grants$42,146
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,154,017$2,154,017
VIII-3 Investment incomeExcluded from tax $962$962
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $75 · Excluded from tax $26,288$26,363
VIII-12 Total revenueRelated to mission $2,154,092 · Unrelated business $0 · Excluded from tax $27,250$2,223,488
Part IX · Statement of functional expenses $2,283,392 across 14 lines filed
IX-1 Grants to domestic organizationsPrograms $100,442$100,442
IX-2 Grants to domestic individualsPrograms $122,567$122,567
IX-7 Other salaries and wagesPrograms $699,898 · Management $466,599$1,166,497
IX-8 Pension plan contributionsPrograms $18,777 · Management $12,518$31,295
IX-9 Other employee benefitsPrograms $3,012 · Management $2,008$5,020
IX-10 Payroll taxesPrograms $64,067 · Management $42,711$106,778
IX-11c Accounting feesPrograms $1,652 · Management $5,598$7,250
IX-11g Other fees for servicesPrograms $10,179 · Management $6,513$16,692
IX-13 Office expensesPrograms $33,132 · Management $41,719$74,851
IX-14 Information technologyPrograms $368 · Management $1,848$2,216
IX-16 OccupancyPrograms $420,000$420,000
IX-23 InsuranceManagement $14,607$14,607
IX-24 Other expenses (24a–d)Programs $36,908 · Management $133,890$170,798
IX-24e All other expensesPrograms $16,516 · Management $27,863$44,379
IX-25 Total functional expensesPrograms $1,527,518 · Management $755,874 · Fundraising $0$2,283,392
Part X · Balance sheet $482,365 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $43,055$142,034
X-2 Savings and temporary cash investmentsStart of year $301,046$302,322
X-9 Prepaid expenses and deferred charges$717
X-10c Land, buildings and equipment, netStart of year $0$0
X-15 Other assetsStart of year $35,000$37,292
X-16 Total assetsStart of year $379,101$482,365
X-17 Accounts payable and accrued expensesStart of year $11,101$17,006
X-19 Deferred revenueStart of year $214,861$377,062
X-26 Total liabilitiesStart of year $225,962$394,068
X-32 Total net assets or fund balancesStart of year $153,139$88,297
X-33 Total liabilities and net assetsStart of year $379,101$482,365
Part XI · Reconciliation of net assets $88,297 net assets at year end
XI-1 Total revenue$2,223,488
XI-2 Total expenses$2,283,392
XI-3 Revenue less expenses−$59,904
XI-4 Net assets at start of year$153,139
XI-8 Prior period adjustments−$4,938
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$88,297

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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