The Head Royce School: FY2021 Nonprofit Profile & Form 990 (EIN 94-1518656)

Revenue by fiscal year
FY2020	$42.7M
FY2021	$50.7M
FY2022	$47.7M
FY2023	$47.2M
FY2024	$54.9M
FY2025	$50.1M

Expenses by fiscal year
FY2020	$38.7M
FY2021	$38.8M
FY2022	$41.9M
FY2023	$43.9M
FY2024	$48.1M
FY2025	$49.7M

Net assets by fiscal year
FY2020	$75.1M
FY2021	$84.4M
FY2022	$85.8M
FY2023	$91.5M
FY2024	$100.7M
FY2025	$102.1M

Is it real?

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

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

Where the money goes

77 cents of each dollar spent went to programs.

77%

20%

Program services 77% · $29.8M Management & general 20% · $7.9M Fundraising 3% · $1.1M

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

35 people listed on the 990; $2.5M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

Crystal Land

Head of School

$518,889Pt VII · Sec A

Gerald L Mullaney

CFO & Dir of Operations

$260,631Pt VII · Sec A

Mantra Robinson

Dir of Advancement

$216,129Pt VII · Sec A

Christian Donovan

Assoc Hos & Dir of Strat Research

$203,701Pt VII · Sec A

Linda Hoopes

Middle School Division Head

$184,022Pt VII · Sec A

Carl Thierman

Upper School Division Head

$175,703Pt VII · Sec A

Lea Van Ness

Lower School Division Head

$172,538Pt VII · Sec A

Tania Castro Bradt

Dir of College Counseling

$153,921Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Rachel Skiffer	$876,796	$745,926	$335,483	—	—	—
Crystal Land	—	—	$433,413	$553,347	$518,889	$501,240
Gerald L Mullaney	$318,335	$303,735	$291,090	$278,478	$260,631	$235,884
Joel Sohn	$257,113	—	—	—	—	—
Ricky Lapidus	$251,067	$240,676	$231,999	—	—	—
Mantra Robinson	—	—	$235,994	$227,478	$216,129	$212,418
Carl Thierman	—	—	—	—	$175,703	$228,672
Johnny Avots-Smith	$219,468	—	—	—	—	—

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 The Head Royce School 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

Educates students from kindergarten through twelfth grade.

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Provided by the organization

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1 program · $29.8M · in their own filed words · FY2020

01

An independent, co-educational college preparatory day school with classes from kindergarten through twelfth grade for approximately 900 students. Also included is the summer enrichment, heads up, and after school child care programs.

$29.8Mprogram 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

The Levy Family FoundationFY2025$40K

Leroe Family Charitable FoundationFY2025$10K

Total grants receivedfrom 2 funders$50K

Grants paid · 12 grants · $39.6M · 2019–2024

Unitemized GrantFY2024$6,429,106

Unitemized GrantFY2024$1,117,925

Unitemized GrantFY2023$6,008,931

Unitemized GrantFY2023$957,004

Unitemized GrantFY2022$5,488,152

Unitemized GrantFY2022$918,546

Unitemized GrantFY2021$5,470,466

Unitemized GrantFY2021$935,457

Unitemized GrantFY2020$5,480,677

Unitemized GrantFY2020$870,656

Unitemized GrantFY2019$5,158,327

Unitemized GrantFY2019$811,502

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$50.7M

Ln 12

Fees for servicesLn 2g$36.6M

Investment incomeLn 3$7.9M

Gifts and grantsLn 1h$6.0M

Money outPt IX

$38.8M

Ln 25

Programscol B$29.8M

Managementcol C$7.9M

Fundraisingcol D$1.1M

Owns and owesPt X

$84.4M

net assets · Ln 32

Cash and savingsLn 1–2$36.6M

Total assetsLn 16$139.8M

LiabilitiesLn 26$55.4M

PeoplePt VI, VII

35

listed · VII A

PaidVII A12

Voting boardVI 1a23

IndependentVI 1b23

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$6.0M

Noncash giftsLn 1g$230K

Fees for servicesLn 2g$36.6M

Investment incomeLn 3$7.9M

Other incomeLn 4–11$174K

Gains on assetsLn 7$7.3M

Total revenueLn 12$50.7M

Assets in detailPt X, end of year

CashLn 1$4.4M

SavingsLn 2$32.1M

Cash and savings togetherLn 1–2$36.6M

InvestmentsLn 11–13$27.3M

Land, buildings, equipmentLn 10c$57.2M

Total assetsLn 16$139.8M

LiabilitiesLn 26$55.4M

Net assetsLn 32$84.4M

OperationsPt I, VI

EmployeesI 5433

VolunteersI 6600

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 FY21	End FY21
Cash and savingsLn 1–2	$22.0M	$36.6M
InvestmentsLn 11–13	$34.5M	$27.3M
Land, buildings, equipmentLn 10c	$56.7M	$57.2M
Total assetsLn 16	$131.6M	$139.8M
LiabilitiesLn 26	$56.6M	$55.4M
Net assetsLn 32	$75.1M	$84.4M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$6.4M	$6.4M
Pay of current officers, directors and key staffLn 5	$1.9M	$394K	$1.1M	$348K
Other salaries and wagesLn 7	$15.7M	$12.0M	$3.2M	$425K
Pension plan contributionsLn 8	$1.2M	$805K	$343K	$52K
Other employee benefitsLn 9	$1.8M	$1.4M	$327K	$59K
Payroll taxesLn 10	$1.3M	$940K	$291K	$44K
Legal feesLn 11b	$90K		$90K
Accounting feesLn 11c	$57K		$57K
Professional fundraising feesLn 11e	$12K			$12K
Investment management feesLn 11f	$75K		$75K
Other fees for servicesLn 11g	$648K	$40K	$553K	$56K
Advertising and promotionLn 12	$290K	$38K	$251K	$949
Office expensesLn 13	$644K	$262K	$370K	$13K
Information technologyLn 14	$615K	$300K	$315K
OccupancyLn 16	$2.6M	$2.3M	$263K	$18K
Conferences, conventions and meetingsLn 19	$208K	$153K	$53K	$2K
InterestLn 20	$976K	$867K	$101K	$7K
Depreciation, depletion and amortizationLn 22	$1.8M	$1.6M	$183K	$12K
InsuranceLn 23	$588K	$515K	$68K	$6K
Other expenses (24a–d)Ln 24	$1.4M	$1.4M	$46K	$3K
All other expensesLn 24e	$744K	$472K	$215K	$57K
Total functional expensesLn 25	$38.8M	$29.8M	$7.9M	$1.1M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$50.1M	$49.7M	$308K	$102.1M	990 PDF
FY2024	$54.9M	$48.1M	$6.8M	$100.7M	990 PDF
FY2023	$47.2M	$43.9M	$3.2M	$91.5M	990 PDF
FY2022	$47.7M	$41.9M	$5.8M	$85.8M	990 PDF
FY2021 Viewing	$50.7M	$38.8M	$11.9M	$84.4M	990 PDF
FY2020	$42.7M	$38.7M	$3.9M	$75.1M	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 M · Noncash J · Pay O · Explanations

See the full FY2021 990 (6 parts)

Part I · Summary $50,710,547 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $4,121,856$6,029,205

I-9 Program service revenuePrior year $36,784,082$36,610,171

I-10 Investment incomePrior year $1,640,993$7,896,739

I-11 Other revenuePrior year $120,354$174,432

I-12 Total revenuePrior year $42,667,285$50,710,547

I-13 Grants and similar amounts paidPrior year $5,969,829$6,351,333

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $20,300,657$21,804,713

I-16a Professional fundraising feesPrior year $2,600$12,405

I-17 Other expensesPrior year $12,450,430$10,680,895

I-18 Total expensesPrior year $38,723,516$38,849,346

I-19 Revenue less expensesPrior year $3,943,769$11,861,201

Part VI · Governance 23 of 23 board members independent, no flags

VI-1a Voting members of the governing body23

VI-1b Independent voting members23

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 $50,710,547 across 9 lines filed

VIII-1f All other contributions, gifts and grants$6,029,205

VIII-1g Noncash contributions (included above)$229,851

VIII-1h Total contributions, gifts and grants$6,029,205

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $36,610,171$36,610,171

VIII-3 Investment incomeExcluded from tax $579,207$579,207

VIII-6 Net rental income or lossExcluded from tax $44,987$44,987

VIII-7 Net gain or loss on sales of assetsExcluded from tax $7,317,532$7,317,532

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $129,445$129,445

VIII-12 Total revenueRelated to mission $36,739,616 · Unrelated business $0 · Excluded from tax $7,941,726$50,710,547

Part IX · Statement of functional expenses $38,849,346 across 21 lines filed

IX-2 Grants to domestic individualsPrograms $6,351,333$6,351,333

IX-5 Pay of current officers, directors and key staffPrograms $394,269 · Management $1,108,281 · Fundraising $348,062$1,850,612

IX-7 Other salaries and wagesPrograms $12,013,651 · Management $3,222,356 · Fundraising $424,650$15,660,657

IX-8 Pension plan contributionsPrograms $804,972 · Management $343,252 · Fundraising $52,280$1,200,504

IX-9 Other employee benefitsPrograms $1,431,028 · Management $327,243 · Fundraising $59,084$1,817,355

IX-10 Payroll taxesPrograms $940,233 · Management $291,027 · Fundraising $44,325$1,275,585

IX-11b Legal feesManagement $89,933$89,933

IX-11c Accounting feesManagement $57,230$57,230

IX-11e Professional fundraising feesFundraising $12,405$12,405

IX-11f Investment management feesManagement $74,530$74,530

IX-11g Other fees for servicesPrograms $39,502 · Management $553,134 · Fundraising $55,708$648,344

IX-12 Advertising and promotionPrograms $37,925 · Management $251,070 · Fundraising $949$289,944

IX-13 Office expensesPrograms $261,992 · Management $369,537 · Fundraising $12,785$644,314

IX-14 Information technologyPrograms $300,072 · Management $314,901$614,973

IX-16 OccupancyPrograms $2,284,350 · Management $263,312 · Fundraising $18,124$2,565,786

IX-19 Conferences, conventions and meetingsPrograms $153,419 · Management $52,797 · Fundraising $1,895$208,111

IX-20 InterestPrograms $867,221 · Management $101,452 · Fundraising $6,829$975,502

IX-22 Depreciation, depletion and amortizationPrograms $1,569,600 · Management $183,260 · Fundraising $12,359$1,765,219

IX-23 InsurancePrograms $514,511 · Management $68,077 · Fundraising $5,854$588,442

IX-24 Other expenses (24a–d)Programs $1,365,454 · Management $46,469 · Fundraising $3,128$1,415,051

IX-24e All other expensesPrograms $472,061 · Management $214,638 · Fundraising $56,817$743,516

IX-25 Total functional expensesPrograms $29,801,593 · Management $7,932,499 · Fundraising $1,115,254$38,849,346

Part X · Balance sheet $139,836,677 assets, 16 lines filed

X-1 Cash, non-interest-bearingStart of year $1,545,034$4,439,064

X-2 Savings and temporary cash investmentsStart of year $20,422,440$32,117,726

X-3 Pledges and grants receivableStart of year $2,609,668$2,749,263

X-4 Accounts receivableStart of year $15,700,615$15,802,430

X-9 Prepaid expenses and deferred chargesStart of year $176,411$268,979

X-10c Land, buildings and equipment, netStart of year $56,690,292$57,174,828

X-11 Publicly traded securitiesStart of year $34,500,887$27,284,387

X-16 Total assetsStart of year $131,645,347$139,836,677

X-17 Accounts payable and accrued expensesStart of year $2,803,560$3,121,189

X-19 Deferred revenueStart of year $32,571,140$31,251,869

X-20 Tax-exempt bond liabilitiesStart of year $21,212,707$21,017,569

X-26 Total liabilitiesStart of year $56,587,407$55,390,627

X-27 Net assets without donor restrictionsStart of year $46,464,606$47,529,065

X-28 Net assets with donor restrictionsStart of year $28,593,334$36,916,985

X-32 Total net assets or fund balancesStart of year $75,057,940$84,446,050

X-33 Total liabilities and net assetsStart of year $131,645,347$139,836,677

Part XI · Reconciliation of net assets $84,446,050 net assets at year end

XI-1 Total revenue$50,710,547

XI-2 Total expenses$38,849,346

XI-3 Revenue less expenses$11,861,201

XI-4 Net assets at start of year$75,057,940

XI-5 Net unrealized gains (losses) on investments−$2,473,091

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$84,446,050

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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The Head Royce School FY2021 filing

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