Carlthorp School is an independent, nonprofit day School for children in grades k-6. Carlthorp School provides a strong academic foundation in a diverse and nurturing School community that emphasizes traditional values, disciplined work habits, and excellence in order to prepare our students to achieve their highest potential in education and life.Carlthorp School, established in 1939, is the oldest independent School in santa monica. Though the breadth of our curriculum has radically expanded in the last 86 years, our basic philosophy remains the same. We focus on the child as a whole, helping the child to grow academically, socially, and ethically - all within the framework of a traditionally academic School. The school's traditional approach to education, coupled with positive reinforcement in a caring wholesome environment prepares children to excel in today's competitive society.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$1.7M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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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
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
2 of 6
filings with a surplus
Average surplus $780K a year · 5% of revenue · last 6 filings
Worth a look: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.7M
to officers and key staff · 13% of spending
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
22 mo
of spending, in cash
Looks good: 21.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
18
named funders · $1.2M
Looks good: 18 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$9.6M
19% of total assets
Looks good: liabilities are 19% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 16 voting members
Looks good: 15 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$14.1M
+12% vs prior year
Spent
$13.0M
To programs
82%
Net assets
$40.1M
By yearFY2020–FY2025
Revenue
$14.1M
FY2023▲ +12%
Tap a bar for its year
Revenue by fiscal year
FY2020$11.6M
FY2021$11.1M
FY2022$12.6M
FY2023$14.1M
FY2024$21.2M
FY2025$16.6M
Expenses
$13.0M
FY2023▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$12.3M
FY2021$13.2M
FY2022$12.6M
FY2023$13.0M
FY2024$14.6M
FY2025$16.8M
Net assets
$40.1M
FY2023▲ +9%
Tap a bar for its year
Net assets by fiscal year
FY2020$37.4M
FY2021$40.2M
FY2022$36.8M
FY2023$40.1M
FY2024$51.1M
FY2025$54.2M

From the FY2023 Form 990 (year ending August 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 (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1981.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $10.6M Management & general 14% · $1.8M Fundraising 4% · $522K

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

22 people listed on the 990; $1.7M 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
Head of School
$419,353Pt VII · Sec A
Associate Head of School
$301,818Pt VII · Sec A
Director of Finance
$276,025Pt VII · Sec A
Dean of Academics
$185,767Pt VII · Sec A
Director of Advancement
$173,445Pt VII · Sec A
Director of Transition & Strategic Planning
$171,178Pt VII · Sec A
Head of Science, Innovation & Special Programs
$126,679Pt VII · Sec A
$0Pt VII · Sec A

Nola Rae Cronan’s $481K as Head of School is at the 87th 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Timothy Kusserow————$278,944$497,942
Nola Rae Cronan$480,990$440,269$419,353$196,000——
Steven Springer$303,732$302,229$301,818$283,877$227,835—
Kenneth Parr$278,204$261,281$276,025$273,678$265,505$252,900
Amanda Sasso$207,608$189,633$185,767$146,500$122,677—
Maureen Pollack$203,567$186,458$173,445$159,932$153,012$131,461
Lynn Wagmeister———$199,496$190,166$179,833
Stephen Milich—$192,975————

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

Educates children in kindergarten through sixth grade.

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1 program · $10.6M · in their own filed words · FY2022
01

Carlthorp school is accredited by the national association of independent schools, the california association of independent schools and the western association of schools and colleges. Carlthorp school received the "no child left behind" national blue ribbon of excellence award.

$10.6Mprogram 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 · FY2024
See all 18 funders →
Grants paid · 6 grants · $3.6M · 2019–2024
Unitemized GrantFY2024$944,370
Unitemized GrantFY2023$647,378
Unitemized GrantFY2022$419,985
Unitemized GrantFY2021$461,221
Unitemized GrantFY2020$587,422
Unitemized GrantFY2019$560,882

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$14.1M
Ln 12
Fees for servicesLn 2g$10.6M
Gifts and grantsLn 1h$2.5M
Investment incomeLn 3$936K
Money outPt IX
$13.0M
Ln 25
Programscol B$10.6M
Managementcol C$1.8M
Fundraisingcol D$522K
Owns and owesPt X
$40.1M
net assets · Ln 32
Cash and savingsLn 1–2$23.4M
Total assetsLn 16$49.6M
LiabilitiesLn 26$9.6M
PeoplePt VI, VII
22
listed · VII A
PaidVII A7
Voting boardVI 1a16
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.5M
Noncash giftsLn 1g$408K
Fundraising eventsLn 1c$538K
Fees for servicesLn 2g$10.6M
Investment incomeLn 3$936K
Other incomeLn 4–11$83K
Total revenueLn 12$14.1M
Assets in detailPt X, end of year
CashLn 1$236K
SavingsLn 2$23.1M
Cash and savings togetherLn 1–2$23.4M
InvestmentsLn 11–13$21.0M
Land, buildings, equipmentLn 10c$4.8M
Total assetsLn 16$49.6M
LiabilitiesLn 26$9.6M
Net assetsLn 32$40.1M
OperationsPt I, VI
EmployeesI 5113
VolunteersI 6110
Fiscal year endsHeaderAugust
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$22.3M$23.4M
InvestmentsLn 11–13$18.4M$21.0M
Land, buildings, equipmentLn 10c$4.5M$4.8M
Total assetsLn 16$45.7M$49.6M
LiabilitiesLn 26$8.9M$9.6M
Net assetsLn 32$36.8M$40.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$420K$420K
Pay of current officers, directors and key staffLn 5$881K$261K$496K$124K
Other salaries and wagesLn 7$7.1M$6.1M$696K$291K
Pension plan contributionsLn 8$300K$265K$24K$11K
Other employee benefitsLn 9$763K$681K$55K$27K
Payroll taxesLn 10$601K$493K$79K$29K
Legal feesLn 11b$43K$43K
Accounting feesLn 11c$34K$34K
Other fees for servicesLn 11g$135K$84K$51K
Advertising and promotionLn 12$29K$29K
Office expensesLn 13$158K$53K$81K$25K
Information technologyLn 14$232K$209K$23K
TravelLn 17$80K$80K
Conferences, conventions and meetingsLn 19$105K$105K
Depreciation, depletion and amortizationLn 22$300K$270K$30K
InsuranceLn 23$193K$174K$19K
Other expenses (24a–d)Ln 24$1.3M$1.3M$36K
All other expensesLn 24e$270K$215K$39K$16K
Total functional expensesLn 25$13.0M$10.6M$1.8M$522K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $16.6M$16.8M−$244K$54.2M 990 PDF
FY2024 $21.2M$14.6M$6.6M$51.1M 990 PDF
FY2023 Viewing $14.1M$13.0M$1.1M$40.1M 990 PDF
FY2022 $12.6M$12.6M−$41K$36.8M 990 PDF
FY2021 $11.1M$13.2M−$2.1M$40.2M 990 PDF
FY2020 $11.6M$12.3M−$614K$37.4M 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 FY2023 990 (6 parts)
Part I · Summary $14,083,775 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,067,536$2,476,984
I-9 Program service revenuePrior year $10,004,223$10,587,560
I-10 Investment incomePrior year $585,867$935,982
I-11 Other revenuePrior year −$67,598$83,249
I-12 Total revenuePrior year $12,590,028$14,083,775
I-13 Grants and similar amounts paidPrior year $461,221$419,985
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $9,429,971$9,666,595
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,739,913$2,899,103
I-18 Total expensesPrior year $12,631,105$12,985,683
I-19 Revenue less expensesPrior year −$41,077$1,098,092
Part VI · Governance 15 of 16 board members independent, no flags
VI-1a Voting members of the governing body16
VI-1b Independent voting members15
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 $14,083,775 across 9 lines filed
VIII-1c Fundraising events$537,670
VIII-1f All other contributions, gifts and grants$1,939,314
VIII-1g Noncash contributions (included above)$407,854
VIII-1h Total contributions, gifts and grants$2,476,984
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $10,587,560$10,587,560
VIII-3 Investment incomeExcluded from tax $935,982$935,982
VIII-8 Net income from fundraising eventsExcluded from tax $79,182$79,182
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $4,067$4,067
VIII-12 Total revenueRelated to mission $10,587,560 · Unrelated business $0 · Excluded from tax $1,019,231$14,083,775
Part IX · Statement of functional expenses $12,985,683 across 18 lines filed
IX-2 Grants to domestic individualsPrograms $419,985$419,985
IX-5 Pay of current officers, directors and key staffPrograms $261,070 · Management $496,324 · Fundraising $124,081$881,475
IX-7 Other salaries and wagesPrograms $6,135,003 · Management $695,601 · Fundraising $290,616$7,121,220
IX-8 Pension plan contributionsPrograms $264,912 · Management $23,617 · Fundraising $11,012$299,541
IX-9 Other employee benefitsPrograms $680,849 · Management $55,464 · Fundraising $27,051$763,364
IX-10 Payroll taxesPrograms $492,625 · Management $79,399 · Fundraising $28,971$600,995
IX-11b Legal feesManagement $42,788$42,788
IX-11c Accounting feesManagement $34,455$34,455
IX-11g Other fees for servicesPrograms $83,648 · Management $51,004$134,652
IX-12 Advertising and promotionManagement $29,179$29,179
IX-13 Office expensesPrograms $52,689 · Management $80,572 · Fundraising $25,027$158,288
IX-14 Information technologyPrograms $208,537 · Management $23,171$231,708
IX-17 TravelManagement $80,008$80,008
IX-19 Conferences, conventions and meetingsPrograms $105,041$105,041
IX-22 Depreciation, depletion and amortizationPrograms $269,741 · Management $29,971$299,712
IX-23 InsurancePrograms $173,842 · Management $19,316$193,158
IX-24 Other expenses (24a–d)Programs $1,284,671 · Management $35,574$1,320,245
IX-24e All other expensesPrograms $215,467 · Management $38,859 · Fundraising $15,543$269,869
IX-25 Total functional expensesPrograms $10,648,080 · Management $1,815,302 · Fundraising $522,301$12,985,683
Part X · Balance sheet $49,647,820 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $444,247$236,316
X-2 Savings and temporary cash investmentsStart of year $21,875,215$23,118,182
X-4 Accounts receivableStart of year $135,696$149,628
X-9 Prepaid expenses and deferred chargesStart of year $340,097$344,169
X-10c Land, buildings and equipment, netStart of year $4,512,571$4,837,729
X-11 Publicly traded securitiesStart of year $18,400,771$20,961,796
X-16 Total assetsStart of year $45,708,597$49,647,820
X-17 Accounts payable and accrued expensesStart of year $386,745$493,656
X-19 Deferred revenueStart of year $8,540,115$9,079,771
X-26 Total liabilitiesStart of year $8,926,860$9,573,427
X-27 Net assets without donor restrictionsStart of year $34,630,819$37,526,563
X-28 Net assets with donor restrictionsStart of year $2,150,918$2,547,830
X-32 Total net assets or fund balancesStart of year $36,781,737$40,074,393
X-33 Total liabilities and net assetsStart of year $45,708,597$49,647,820
Part XI · Reconciliation of net assets $40,074,393 net assets at year end
XI-1 Total revenue$14,083,775
XI-2 Total expenses$12,985,683
XI-3 Revenue less expenses$1,098,092
XI-4 Net assets at start of year$36,781,737
XI-5 Net unrealized gains (losses) on investments$2,194,564
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$40,074,393

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

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