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Nonprofiteer
← TOWN SCHOOL FOR BOYS

Form 990 for tax year 2024

Filed by TOWN SCHOOL FOR BOYS.

Totals

Total revenue
$35,111,965
Total expenses
$27,606,163
Contributions and grants received
$11,386,390
Grants paid
$2,832,524
Program service revenue
$21,129,399
Investment income
$2,786,843
Other revenue
-$190,667
Total assets, end of year
$117,431,380
Total liabilities, end of year
$30,208,596
Net assets or fund balances, end of year
$87,222,784
Program services expenses (Part IX)
$23,495,286
Management and general expenses
$1,992,368
Fundraising expenses
$2,118,509
Program service expenses (Part III)
$23,495,286

Program services were 85.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $11,386,390

  • 2a · Program service revenue: TUITION & PARENT ASSOC

    total $21,129,399 · related or exempt $21,129,399

  • 3 · Investment income

    total $1,531,027 · excluded $1,531,027

  • 6a · Gross rents

    real property $33,700

  • 6b · Less rental expenses

    real property $238,984

  • 6c · Rental income or loss

    real property -$205,284

  • 6d · Net rental income or loss

    total -$205,284 · excluded -$205,284

  • 7a · Gross sales of assets other than inventory

    securities $7,774,372

  • 7b · Less cost or other basis and sales expenses

    securities $6,503,067 · other assets $15,489

  • 7c · Gain or loss

    securities $1,271,305 · other assets -$15,489

  • 7d · Net gain or loss

    total $1,255,816 · excluded $1,255,816

  • 10a · Gross sales of inventory

    $49,406

  • 10b · Cost of goods sold

    $34,789

  • 10c · Net income from sales of inventory

    total $14,617 · excluded $14,617

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,832,524 · program services $2,832,524

  • 5 · Compensation of officers, directors and key employees

    total $1,787,867 · program services $690,566 · management and general $617,831 · fundraising $479,470

  • 7 · Other salaries and wages

    total $11,554,699 · program services $10,406,555 · management and general $529,929 · fundraising $618,215

  • 8 · Pension plan contributions

    total $995,930 · program services $891,216 · management and general $48,099 · fundraising $56,615

  • 9 · Other employee benefits

    total $1,360,313 · program services $1,175,626 · management and general $88,705 · fundraising $95,982

  • 10 · Payroll taxes

    total $995,034 · program services $834,211 · management and general $81,499 · fundraising $79,324

  • 11b · Fees: legal

    total $117,724 · management and general $117,724

  • 11c · Fees: accounting

    total $61,915 · management and general $61,915

  • 11f · Fees: investment management

    total $79,582 · management and general $79,582

  • 11g · Fees: other

    total $1,014,391 · program services $678,647 · management and general $65,592 · fundraising $270,152

  • 13 · Office expenses

    total $507,243 · program services $335,560 · management and general $50,877 · fundraising $120,806

  • 14 · Information technology

    total $323,894 · program services $286,833 · management and general $18,263 · fundraising $18,798

  • 16 · Occupancy

    total $1,109,772 · program services $978,224 · management and general $64,853 · fundraising $66,695

  • 20 · Interest

    total $293,120 · program services $255,895 · management and general $20,455 · fundraising $16,770

  • 22 · Depreciation, depletion and amortization

    total $1,681,830 · program services $1,473,694 · management and general $102,566 · fundraising $105,570

  • 23 · Insurance

    total $307,625 · program services $269,947 · management and general $18,686 · fundraising $18,992

  • 24a · Other expenses: LUNCH PROGRAM

    total $1,251,372 · program services $1,223,647 · management and general $13,663 · fundraising $14,062

  • 24b · Other expenses: SCHOOL WIDE CURRICULUM

    total $468,548 · program services $468,548

  • 24c · Other expenses: ATHLETIC EXPENSE

    total $388,928 · program services $388,928

  • 24d · Other expenses: AUXILIARY EXPENSE

    total $214,628 · program services $214,628

  • 24e · All other expenses

    total $259,224 · program services $90,037 · management and general $12,129 · fundraising $157,058

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,695,772 · end of year $2,757,757

  • 3 · Pledges and grants receivable

    beginning of year $3,529,363 · end of year $2,974,832

  • 4 · Accounts receivable

    beginning of year $15,586,567 · end of year $16,609,628

  • 7 · Other notes and loans receivable

    beginning of year $1,112,464 · end of year $1,096,975

  • 9 · Prepaid expenses and deferred charges

    beginning of year $339,420 · end of year $374,096

  • 10a · Land, buildings and equipment: cost or other basis

    $61,803,612

  • 10b · Land, buildings and equipment: accumulated depreciation

    $23,554,148

  • 10c · Land, buildings and equipment, net

    beginning of year $39,189,831 · end of year $38,249,464

  • 12 · Investments: other securities

    beginning of year $42,223,541 · end of year $55,122,580

  • 15 · Other assets

    beginning of year $259,524 · end of year $246,048

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,525,737 · end of year $1,735,233

  • 19 · Deferred revenue

    beginning of year $17,544,380 · end of year $18,342,512

  • 20 · Tax-exempt bond liabilities

    beginning of year $9,891,794 · end of year $9,895,955

  • 25 · Other liabilities

    beginning of year $248,714 · end of year $234,896

  • 27 · Net assets without donor restrictions

    beginning of year $45,235,672 · end of year $45,696,609

  • 28 · Net assets with donor restrictions

    beginning of year $31,490,185 · end of year $41,526,175

Mission and programs · 2024

Mission

AT TOWN SCHOOL, LEARNING IS PRIZED, LOVE OF SCHOOL IS ESSENTIAL AND BOYHOOD IS CELEBRATED. TOWN VALUES BEING A DIVERSE COMMUNITY THAT NURTURES INTEGRITY, SENSITIVITY AND RESPECT IN ITS BOYS AND PREPARES THEM TO BECOME PRODUCTIVE AND CONTRIBUTING MEMBERS OF AN EVER-CHANGING WORLD.

Activities or mission (Part I)

AT TOWN SCHOOL, LEARNING IS PRIZED, LOVE OF SCHOOL IS ESSENTIAL, AND BOYHOOD IS CELEBRATED.

  • TOWN SCHOOL FOR BOYS IS AN INDEPENDENT ALL BOYS' SCHOOL SERVING GRADES K-8 WITH AN APPROXIMATE ENROLLMENT OF 415. AT TOWN SCHOOL, LEARNING IS PRIZED, LOVE OF SCHOOL IS ESSENTIAL, AND BOYHOOD IS CELEBRATED. AS AN ALL BOYS' SCHOOL, TOWN PROVIDES A RICH, CHALLENGING AND RIGOROUS EDUCATIONAL EXPERIENCE THAT ADDRESSES THE DISTINCTIVE ENERGY LEVELS AND DEVELOPMENTAL STYLES OF BOYS. TOWN VALUES BEING A DIVERSE AND INCLUSIVE COMMUNITY THAT NURTURES INTEGRITY, SENSITIVITY AND RESPECT IN ITS BOYS, AND PREPARES THEM TO BECOME PRODUCTIVE AND CONTRIBUTING MEMBERS OF AN EVER-CHANGING WORLD. IN ADDITION TO ITS ACADEMIC PROGRAM, TOWN ALSO OFFERS OTHER ACTIVITIES INCLUDING ATHLETICS, EXTENDED DAY PROGRAMS, OUTDOOR EDUCATION EXPERIENCES, CLUBS AND AFFINITY GROUPS, SERVICE LEARNING AND GLOBAL CITIZENSHIP OPPORTUNITIES THAT ALL SHAPE TOWN'S PORTRAIT OF A GRADUATE AND CELEBRATE TOWN'S VALUES OF RESPECT, CURIOSITY, BELONGING, INTEGRITY, AND JOY.

    Expenses $23,495,286 · Grants $2,832,524 · Revenue $21,129,399

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Wyatt Gruber

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Tonia Karr

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Brett Bush

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Lauren Ford

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Clara Abecassis

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Elizabeth B

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Vickie Barret

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Bernadette Capozzoli

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Julia Collins

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Evan Cooke

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Putnam Daily

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Brad Defoor

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Luke Felker

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Joydeep Ganguly

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Charlotte Giovanni

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Allyson Letteri

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Kevin Marchetti

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Vijay Mohan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Taylor Nagle

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Julia Paige

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Mihir Shah

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Alex Slusky

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Andrew Sparks

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Christina Trujillo-Ayoub

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Greg Vaisberg

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Julia Wong

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Lorri Hamilton Durbin

    HEAD OF SCHOOL

    Total calculated
    $700,539
    From this org
    $647,778
    From related orgs
    $0
    Other
    $52,761
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $634,196
    Bonus
    $0
    Other
    $13,582
    Deferred
    $34,500
    Nontaxable benefits
    $18,261
    Filer's total
    $700,539

  • Kary Norton

    CHIEF FINANCIAL OFFICER

    Total calculated
    $329,670
    From this org
    $282,588
    From related orgs
    $0
    Other
    $47,082
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $282,588
    Bonus
    $0
    Other
    $0
    Deferred
    $28,214
    Nontaxable benefits
    $18,868
    Filer's total
    $329,670

  • Margaret Laurent

    HEAD OF LOWER SCHOOL

    Total calculated
    $266,200
    From this org
    $226,103
    From related orgs
    $0
    Other
    $40,097
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $226,103
    Bonus
    $0
    Other
    $0
    Deferred
    $22,365
    Nontaxable benefits
    $17,732
    Filer's total
    $266,200

  • Talib Mandan

    HEAD OF UPPER SCHOOL-ENDED 12/2024

    Total calculated
    $259,496
    From this org
    $227,178
    From related orgs
    $0
    Other
    $32,318
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $227,178
    Bonus
    $0
    Other
    $0
    Deferred
    $20,400
    Nontaxable benefits
    $11,918
    Filer's total
    $259,496

  • Mona Chang

    DIRECTOR OF ADVANCEMENT

    Total calculated
    $248,614
    From this org
    $215,650
    From related orgs
    $0
    Other
    $32,964
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $215,650
    Bonus
    $0
    Other
    $0
    Deferred
    $21,520
    Nontaxable benefits
    $11,444
    Filer's total
    $248,614

  • Corbett Simons

    DIR. OF TEACHING, LEARNING & INNOV.

    Total calculated
    $263,067
    From this org
    $230,748
    From related orgs
    $0
    Other
    $32,319
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $230,748
    Bonus
    $0
    Other
    $0
    Deferred
    $20,875
    Nontaxable benefits
    $11,444
    Filer's total
    $263,067

  • Jennifer Liu

    DIR. OF TEACHER DEV. & STRAT. INIT.

    Total calculated
    $222,197
    From this org
    $185,870
    From related orgs
    $0
    Other
    $36,327
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $185,870
    Bonus
    $0
    Other
    $0
    Deferred
    $18,542
    Nontaxable benefits
    $17,785
    Filer's total
    $222,197

  • Curtis Goehring

    DIRECTOR OF ATHLETICS

    Total calculated
    $221,878
    From this org
    $188,770
    From related orgs
    $0
    Other
    $33,108
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,770
    Bonus
    $0
    Other
    $0
    Deferred
    $15,402
    Nontaxable benefits
    $17,706
    Filer's total
    $221,878

  • Reginald Love

    PHYSICAL EDUCATION TEACHER

    Total calculated
    $221,831
    From this org
    $194,294
    From related orgs
    $0
    Other
    $27,537
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,294
    Bonus
    $0
    Other
    $0
    Deferred
    $16,132
    Nontaxable benefits
    $11,405
    Filer's total
    $221,831

  • Sarah Brooke Jenkins

    DIRECTOR OF ADMISSION & FIN. ASSIST.

    Total calculated
    $220,384
    From this org
    $185,727
    From related orgs
    $0
    Other
    $34,657
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,727
    Bonus
    $0
    Other
    $0
    Deferred
    $16,902
    Nontaxable benefits
    $17,755
    Filer's total
    $220,384

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Tax indemnification and gross-up payments
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
AS PART OF THE CURRENT HEAD OF SCHOOL CONTRACT, HOUSING AND TAXES ON THIS BENEFIT ARE PROVIDED AND ARE REPORTED AS TAXABLE COMPENSATION TO THE HEAD OF SCHOOL.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • TOWN SCHOOL PROPERTIES LLC

    OWNERSHIP ENTITY OF SCHOOL-OWNED PROPERTIES · CA · income $75,581 · assets $4,248,543

    Directly controlled by TOWN SCHOOL FOR BOYS

Provenance

Return type
form_990
Tax year
2024
Filed
5 November 2025
IRS schema version
2024v5.2
Source object
202513179349305171

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