Peninsula School Ltd FY2023 filing

Tax-deductible

Menlo Park, CA501(c)(3)Since 1925EducationEIN 94-1186181

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.
70¢ of each $1 spent went to programs.
$1.6M 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

FY2023 · 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
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.6M
to officers and key staff · 19% of spending
Fine: pay to officers and key staff is 19% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 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
$5.8M
28% of total assets
Looks good: liabilities are 28% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 15 voting members
Looks good: 12 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$8.5M
-12% vs prior year
Spent
$8.6M
To programs
70%
Net assets
$15.1M
By yearFY2020–FY2024
Revenue
$8.5M
FY2023▼ -12%
Revenue by fiscal year
FY2020$6.9M
FY2021$9.2M
FY2022$9.6M
FY2023$8.5M
FY2024$7.8M
FY2024$8.2M
Expenses
$8.6M
FY2023▲ +2%
Expenses by fiscal year
FY2020$7.1M
FY2021$7.4M
FY2022$8.4M
FY2023$8.6M
FY2024$8.6M
FY2024$8.3M
Net assets
$15.1M
FY2023▲ +3%
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 FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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

70 cents of each dollar spent went to programs.

Program services 70% · $6.0M Management & general 25% · $2.1M Fundraising 5% · $440K

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

Who runs it and what they're paid

33 people listed on the 990; $1.6M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Interim Head of School (until June 8, 2023)
$300,565Pt VII · Sec A
Director of Finance and Operations
$221,447Pt VII · Sec A
Associate Head of School
$163,440Pt VII · Sec A
Director of Development and Communications
$161,192Pt VII · Sec A
Director of Admissions and Enrollment
$129,767Pt VII · Sec A
$107,584Pt VII · Sec A
Teacher
$100,460Pt VII · Sec A
Teacher
$100,208Pt 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.

See Peninsula School Ltd 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

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

Provided by the organization

This section is blank until Peninsula School Ltd claims this page.

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1 program service account for $6.0M of program spending, described in the organization's own filed words · FY2022.
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…

$6.0Mprogram expense

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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 FY2023 990, line by line.

1The main four
Money inPt VIII
$8.5M
Ln 12
Fees for servicesLn 2g$7.5M
Gifts and grantsLn 1h$700K
Investment incomeLn 3$218K
Money outPt IX
$8.6M
Ln 25
Programscol B$6.0M
Managementcol C$2.1M
Fundraisingcol D$440K
Owns and owesPt X
$15.1M
net assets · Ln 32
Cash and savingsLn 1–2$798K
Total assetsLn 16$20.9M
LiabilitiesLn 26$5.8M
PeoplePt VI, VII
33
listed · VII A
PaidVII A13
Voting boardVI 1a15
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$700K
Government grantsLn 1e$350K
Noncash giftsLn 1g$2K
Fundraising eventsLn 1c$33K
Fees for servicesLn 2g$7.5M
Investment incomeLn 3$218K
Other incomeLn 4–11$3K
Gains on assetsLn 7$3K
Total revenueLn 12$8.5M
Assets in detailPt X, end of year
CashLn 1$200
SavingsLn 2$798K
Cash and savings togetherLn 1–2$798K
InvestmentsLn 11–13$13.8M
Land, buildings, equipmentLn 10c$2.1M
Other assetsLn 15$129K
Total assetsLn 16$20.9M
LiabilitiesLn 26$5.8M
Net assetsLn 32$15.1M
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 FY23End FY23
Cash and savingsLn 1–2$1.8M$798K
InvestmentsLn 11–13$12.4M$13.8M
Land, buildings, equipmentLn 10c$2.0M$2.1M
Total assetsLn 16$21.0M$20.9M
LiabilitiesLn 26$6.4M$5.8M
Net assetsLn 32$14.6M$15.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$1.0M$1.0M
Pay of current officers, directors and key staffLn 5$715K$516K$150K$50K
Other salaries and wagesLn 7$4.2M$3.0M$868K$288K
Other employee benefitsLn 9$655K$435K$183K$38K
Payroll taxesLn 10$347K$239K$86K$22K
Legal feesLn 11b$191K$191K
Accounting feesLn 11c$35K$35K
Other fees for servicesLn 11g$254K$92K$156K$5K
Advertising and promotionLn 12$563$563
Office expensesLn 13$446K$277K$158K$11K
Information technologyLn 14$75K$14K$48K$13K
OccupancyLn 16$72K$58K$13K$1K
TravelLn 17$9K$5K$4K
Depreciation, depletion and amortizationLn 22$204K$164K$37K$4K
InsuranceLn 23$103K$82K$18K$2K
Other expenses (24a–d)Ln 24$272K$112K$155K$5K
All other expensesLn 24e$7K$3K$4K$840
Total functional expensesLn 25$8.6M$6.0M$2.1M$440K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $7.8M$8.6M−$874K$15.4M 990 PDF
FY2023 Viewing $8.5M$8.6M−$121K$15.1M 990 PDF
FY2022 $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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $8,457,742 across 11 lines filed
VIII-1c Fundraising events$33,296
VIII-1e Government grants$350,083
VIII-1f All other contributions, gifts and grants$316,827
VIII-1g Noncash contributions (included above)$2,200
VIII-1h Total contributions, gifts and grants$700,206
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $7,535,989$7,535,989
VIII-3 Investment incomeExcluded from tax $215,850$215,850
VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,628$2,628
VIII-8 Net income from fundraising eventsExcluded from tax −$3,778−$3,778
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $6,847$6,847
VIII-12 Total revenueRelated to mission $7,535,989 · Unrelated business $0 · Excluded from tax $221,547$8,457,742
Part IX · Statement of functional expenses $8,578,589 across 17 lines filed
IX-2 Grants to domestic individualsPrograms $1,041,301$1,041,301
IX-5 Pay of current officers, directors and key staffPrograms $515,922 · Management $149,587 · Fundraising $49,678$715,187
IX-7 Other salaries and wagesPrograms $2,994,862 · Management $868,334 · Fundraising $288,377$4,151,573
IX-9 Other employee benefitsPrograms $434,848 · Management $182,511 · Fundraising $38,001$655,360
IX-10 Payroll taxesPrograms $239,332 · Management $85,777 · Fundraising $21,562$346,671
IX-11b Legal feesManagement $191,319$191,319
IX-11c Accounting feesManagement $34,800$34,800
IX-11g Other fees for servicesPrograms $92,214 · Management $156,016 · Fundraising $5,424$253,654
IX-12 Advertising and promotionManagement $563$563
IX-13 Office expensesPrograms $276,679 · Management $158,438 · Fundraising $10,847$445,964
IX-14 Information technologyPrograms $14,385 · Management $47,614 · Fundraising $13,034$75,033
IX-16 OccupancyPrograms $57,586 · Management $12,957 · Fundraising $1,440$71,983
IX-17 TravelPrograms $4,667 · Management $4,267$8,934
IX-22 Depreciation, depletion and amortizationPrograms $163,569 · Management $36,803 · Fundraising $4,089$204,461
IX-23 InsurancePrograms $82,155 · Management $18,485 · Fundraising $2,054$102,694
IX-24 Other expenses (24a–d)Programs $112,429 · Management $154,567 · Fundraising $5,042$272,038
IX-24e All other expensesPrograms $2,623 · Management $3,591 · Fundraising $840$7,054
IX-25 Total functional expensesPrograms $6,032,572 · Management $2,105,629 · Fundraising $440,388$8,578,589
Part X · Balance sheet $20,891,005 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $200$200
X-2 Savings and temporary cash investmentsStart of year $1,787,213$797,783
X-3 Pledges and grants receivableStart of year $1,152,368$878,090
X-4 Accounts receivableStart of year $3,486,365$3,162,531
X-9 Prepaid expenses and deferred chargesStart of year $143,820$66,973
X-10c Land, buildings and equipment, netStart of year $1,956,159$2,095,189
X-11 Publicly traded securitiesStart of year $12,385,621$13,760,894
X-15 Other assetsStart of year $128,593$129,345
X-16 Total assetsStart of year $21,040,339$20,891,005
X-17 Accounts payable and accrued expensesStart of year $286,956$286,838
X-19 Deferred revenueStart of year $6,116,664$5,459,906
X-25 Other liabilitiesStart of year $45,790$44,127
X-26 Total liabilitiesStart of year $6,449,410$5,790,871
X-27 Net assets without donor restrictionsStart of year $7,437,141$7,645,647
X-28 Net assets with donor restrictionsStart of year $7,153,788$7,454,487
X-32 Total net assets or fund balancesStart of year $14,590,929$15,100,134
X-33 Total liabilities and net assetsStart of year $21,040,339$20,891,005
Part XI · Reconciliation of net assets $15,100,134 net assets at year end
XI-1 Total revenue$8,457,742
XI-2 Total expenses$8,578,589
XI-3 Revenue less expenses−$120,847
XI-4 Net assets at start of year$14,590,929
XI-5 Net unrealized gains (losses) on investments$647,638
XI-9 Other changes in net assets−$17,586
XI-10 Net assets at end of year$15,100,134

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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