Peninsula School Ltd FY2022 filing

Tax-deductible

Menlo Park, CA501(c)(3)Since 1925EducationEIN 94-1186181Revenue $9.6M in FY2022

On file with the IRSpeninsulaschool.org920 Peninsula Way, 94025-2358 · Menlo Park, CATax-exempt since Jul 1937School — 170(b)(1)(A)(ii)

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Peninsula School creates a space where children thrive and develop their full promise as confident contributors in the world. Here they learn about themselves and others, discovering their passions and growing intellectually in an inclusive community rich with choices, exploration, and play.

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
$1.0M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $347K a year · 4% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
78%
of spending
Looks good: 78% 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 · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$6.4M
31% of total assets
Looks good: liabilities are 31% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 17 voting members
Looks good: 13 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$9.6M
+4% vs prior year
Spent
$8.4M
To programs
78%
Net assets
$14.6M
By yearFY2020–FY2024
Revenue
$9.6M
FY2022▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$6.9M
FY2021$9.2M
FY2022$9.6M
FY2023$8.5M
FY2024$7.8M
FY2024$8.2M
Expenses
$8.4M
FY2022▲ +14%
Tap a bar for its year
Expenses by fiscal year
FY2020$7.1M
FY2021$7.4M
FY2022$8.4M
FY2023$8.6M
FY2024$8.6M
FY2024$8.3M
Net assets
$14.6M
FY2022▲ +23%
Tap a bar for its year
Net assets by fiscal year
FY2020$8.8M
FY2021$11.8M
FY2022$14.6M
FY2023$15.1M
FY2024$15.4M
FY2024$16.2M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1937.

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

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $6.6M Management & general 18% · $1.5M Fundraising 5% · $387K

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

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

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Interim Head of School
$263,108Pt VII · Sec A
Director of Finance and Operations
$198,506Pt VII · Sec A
Director of Development and Communications
$140,826Pt VII · Sec A
Former Head of School
$134,345Pt VII · Sec A
Board Member and Staff Member
$120,470Pt VII · Sec A
Board Member and Teacher
$81,677Pt VII · Sec A
Board Member and Teacher
$72,368Pt VII · Sec A
Board Member and Teacher
$31,370Pt VII · Sec A

Elizabeth Lee’s $227K as Director of Finance and Op is at the 88th percentile of top reported officer pay among 3395 $1–10M 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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Mary Hofstedt——$300,565$263,108$118,133—
Jim Benz———$134,345$237,566$211,871
Elizabeth Lee$227,313$232,795$221,447$198,506$165,601$145,993
Erik Carlson—$173,704————
Johanna Aeschliman$169,046—————
Joanne Walsh—$163,734$163,440———
Ryan Helton—$159,487$161,192$140,826$113,091$107,493
Michele Bushini—$121,102$129,767———

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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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

Fosters confident, curious children through inclusive play, exploration, and choice.

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Provided by the organization

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1 program · $6.6M · in their own filed words · FY2021
01

Prek-8th Grade School Programs

Early childhood, elementary, and middle school education. Peninsula's progressive ideals of play, choice and responsibility, engaging in intellectual inquiry, and building relationships inhabit every part of our natural and inspiring CAMPUS.SUMMER school programs our 6 week summer program offers a wide variety of explorative and fun…

$6.6Mprogram 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
Total grants receivedfrom 1 funder$50K
Grants paid · 6 grants · $5.9M · 2019–2024
Unitemized GrantFY2024$1,248,806
Unitemized GrantFY2023$1,143,660
Unitemized GrantFY2022$1,041,301
Unitemized GrantFY2021$972,350
Unitemized GrantFY2020$762,360
Unitemized GrantFY2019$753,851

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$9.6M
Ln 12
Fees for servicesLn 2g$6.9M
Gifts and grantsLn 1h$5.4M
Investment incomeLn 3−$229K
Money outPt IX
$8.4M
Ln 25
Programscol B$6.6M
Managementcol C$1.5M
Fundraisingcol D$387K
Owns and owesPt X
$14.6M
net assets · Ln 32
Cash and savingsLn 1–2$1.8M
Total assetsLn 16$21.0M
LiabilitiesLn 26$6.4M
PeoplePt VI, VII
21
listed · VII A
PaidVII A8
Voting boardVI 1a17
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.4M
Government grantsLn 1e$939K
Noncash giftsLn 1g$3.9M
Fundraising eventsLn 1c$38K
Fees for servicesLn 2g$6.9M
Investment incomeLn 3−$229K
Gains on assetsLn 7−$2.5M
Total revenueLn 12$9.6M
Assets in detailPt X, end of year
CashLn 1$200
SavingsLn 2$1.8M
Cash and savings togetherLn 1–2$1.8M
InvestmentsLn 11–13$12.4M
Land, buildings, equipmentLn 10c$2.0M
Other assetsLn 15$129K
Total assetsLn 16$21.0M
LiabilitiesLn 26$6.4M
Net assetsLn 32$14.6M
OperationsPt I, VI
EmployeesI 5108
VolunteersI 6330
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 FY22End FY22
Cash and savingsLn 1–2$2.7M$1.8M
InvestmentsLn 11–13$9.5M$12.4M
Land, buildings, equipmentLn 10c$1.9M$2.0M
Total assetsLn 16$18.6M$21.0M
LiabilitiesLn 26$6.8M$6.4M
Net assetsLn 32$11.8M$14.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$972K$972K
Pay of current officers, directors and key staffLn 5$922K$692K$184K$46K
Other salaries and wagesLn 7$4.5M$3.3M$890K$224K
Other employee benefitsLn 9$700K$525K$140K$35K
Payroll taxesLn 10$383K$277K$87K$19K
Legal feesLn 11b$18K$18K
Accounting feesLn 11c$35K$35K
Other fees for servicesLn 11g$5K$4K$979$245
Advertising and promotionLn 12$7K$5K$1K$364
Office expensesLn 13$197K$156K$36K$5K
Information technologyLn 14$38K$29K$8K$2K
OccupancyLn 16$66K$52K$12K$2K
TravelLn 17$8K$6K$2K$385
Depreciation, depletion and amortizationLn 22$195K$156K$35K$4K
InsuranceLn 23$105K$84K$19K$2K
Other expenses (24a–d)Ln 24$319K$248K$24K$47K
All other expensesLn 24e$17K$13K$3K$862
Total functional expensesLn 25$8.4M$6.6M$1.5M$387K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $7.8M$8.6M−$874K$15.4M 990 PDF
FY2023 $8.5M$8.6M−$121K$15.1M 990 PDF
FY2022 Viewing $9.6M$8.4M$1.1M$14.6M 990 PDF
FY2021 $9.2M$7.4M$1.9M$11.8M 990 PDF
FY2020 $6.9M$7.1M−$261K$8.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $9,580,258 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,976,929$5,373,015
I-9 Program service revenuePrior year $5,892,353$6,865,186
I-10 Investment incomePrior year $319,445−$2,722,469
I-11 Other revenuePrior year $36,700$64,526
I-12 Total revenuePrior year $9,225,427$9,580,258
I-13 Grants and similar amounts paidPrior year $762,360$972,350
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $5,685,998$6,455,735
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $926,685$1,010,360
I-18 Total expensesPrior year $7,375,043$8,438,445
I-19 Revenue less expensesPrior year $1,850,384$1,141,813
Part VI · Governance 13 of 17 board members independent, no flags
VI-1a Voting members of the governing body17
VI-1b Independent voting members13
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 $9,580,258 across 11 lines filed
VIII-1c Fundraising events$37,830
VIII-1e Government grants$939,000
VIII-1f All other contributions, gifts and grants$4,396,185
VIII-1g Noncash contributions (included above)$3,888,910
VIII-1h Total contributions, gifts and grants$5,373,015
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,865,186$6,865,186
VIII-3 Investment incomeExcluded from tax −$228,710−$228,710
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$2,493,759−$2,493,759
VIII-8 Net income from fundraising eventsExcluded from tax $60,652$60,652
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $3,874$3,874
VIII-12 Total revenueRelated to mission $6,865,186 · Unrelated business $0 · Excluded from tax −$2,657,943$9,580,258
Part IX · Statement of functional expenses $8,438,445 across 17 lines filed
IX-2 Grants to domestic individualsPrograms $972,350$972,350
IX-5 Pay of current officers, directors and key staffPrograms $691,517 · Management $184,339 · Fundraising $46,343$922,199
IX-7 Other salaries and wagesPrograms $3,337,418 · Management $889,663 · Fundraising $223,662$4,450,743
IX-9 Other employee benefitsPrograms $525,163 · Management $139,536 · Fundraising $35,169$699,868
IX-10 Payroll taxesPrograms $276,664 · Management $87,365 · Fundraising $18,896$382,925
IX-11b Legal feesManagement $18,130$18,130
IX-11c Accounting feesManagement $35,422$35,422
IX-11g Other fees for servicesPrograms $3,669 · Management $979 · Fundraising $245$4,893
IX-12 Advertising and promotionPrograms $5,457 · Management $1,455 · Fundraising $364$7,276
IX-13 Office expensesPrograms $156,410 · Management $35,996 · Fundraising $4,714$197,120
IX-14 Information technologyPrograms $28,631 · Management $7,635 · Fundraising $1,909$38,175
IX-16 OccupancyPrograms $52,275 · Management $11,981 · Fundraising $1,526$65,782
IX-17 TravelPrograms $5,779 · Management $1,541 · Fundraising $385$7,705
IX-22 Depreciation, depletion and amortizationPrograms $155,664 · Management $35,024 · Fundraising $3,892$194,580
IX-23 InsurancePrograms $84,175 · Management $18,939 · Fundraising $2,104$105,218
IX-24 Other expenses (24a–d)Programs $248,251 · Management $23,898 · Fundraising $46,676$318,825
IX-24e All other expensesPrograms $12,926 · Management $3,446 · Fundraising $862$17,234
IX-25 Total functional expensesPrograms $6,556,349 · Management $1,495,349 · Fundraising $386,747$8,438,445
Part X · Balance sheet $21,040,339 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $200$200
X-2 Savings and temporary cash investmentsStart of year $2,682,725$1,787,213
X-3 Pledges and grants receivableStart of year $1,219,241$1,152,368
X-4 Accounts receivableStart of year $3,072,546$3,486,365
X-9 Prepaid expenses and deferred chargesStart of year $86,345$143,820
X-10c Land, buildings and equipment, netStart of year $1,913,144$1,956,159
X-11 Publicly traded securitiesStart of year $9,461,135$12,385,621
X-15 Other assetsStart of year $161,055$128,593
X-16 Total assetsStart of year $18,596,391$21,040,339
X-17 Accounts payable and accrued expensesStart of year $272,650$286,956
X-19 Deferred revenueStart of year $5,508,342$6,116,664
X-25 Other liabilitiesStart of year $998,854$45,790
X-26 Total liabilitiesStart of year $6,779,846$6,449,410
X-27 Net assets without donor restrictionsStart of year $3,461,756$7,437,141
X-28 Net assets with donor restrictionsStart of year $8,354,789$7,153,788
X-32 Total net assets or fund balancesStart of year $11,816,545$14,590,929
X-33 Total liabilities and net assetsStart of year $18,596,391$21,040,339
Part XI · Reconciliation of net assets $14,590,929 net assets at year end
XI-1 Total revenue$9,580,258
XI-2 Total expenses$8,438,445
XI-3 Revenue less expenses$1,141,813
XI-4 Net assets at start of year$11,816,545
XI-5 Net unrealized gains (losses) on investments$1,732,280
XI-8 Prior period adjustments−$71,312
XI-9 Other changes in net assets−$28,397
XI-10 Net assets at end of year$14,590,929

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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