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Nonprofiteer
← PUTNEY SCHOOL INC

Form 990 for tax year 2024

Filed by PUTNEY SCHOOL INC.

Totals

Total revenue
$29,019,597
Total expenses
$21,876,667
Contributions and grants received
$5,577,603
Grants paid
$3,887,333
Program service revenue
$16,950,333
Investment income
$6,297,859
Other revenue
$193,802
Total assets, end of year
$82,980,350
Total liabilities, end of year
$8,326,313
Net assets or fund balances, end of year
$74,654,037
Program services expenses (Part IX)
$17,100,794
Management and general expenses
$4,095,704
Fundraising expenses
$680,169
Program service expenses (Part III)
$17,100,794

Program services were 78.2% 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

    $5,577,603

  • 1g · Noncash contributions included above

    $1,011,322

  • 2a · Program service revenue: TUITION AND FEES

    total $15,760,101 · related or exempt $15,760,101

  • 2b · Program service revenue: SUMMER PROGRAMS

    total $892,781 · related or exempt $845,376 · unrelated business $47,405

  • 2c · Program service revenue: TUTORING

    total $209,678 · related or exempt $209,678

  • 2d · Program service revenue: LAND USE REVENUE

    total $87,773 · related or exempt $87,773

  • 3 · Investment income

    total $1,043,336 · excluded $1,043,336

  • 7a · Gross sales of assets other than inventory

    securities $7,187,668 · other assets $4,000,000

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

    securities $5,933,145 · other assets $0

  • 7c · Gain or loss

    securities $1,254,523 · other assets $4,000,000

  • 7d · Net gain or loss

    total $5,254,523 · excluded $5,254,523

  • 10a · Gross sales of inventory

    $56,426

  • 10b · Cost of goods sold

    $46,071

  • 10c · Net income from sales of inventory

    total $10,355 · related or exempt $10,355

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $162,907 · excluded $162,907

  • 11b · Other revenue: APPLICATION FEES

    total $9,975 · related or exempt $9,975

  • 11c · Other revenue: COUNSELING SESSIONS

    total $8,805 · related or exempt $8,805

  • 11d · All other revenue

    total $1,760 · excluded $1,760

  • 11e · Other revenue, total

    $183,447

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $3,887,333 · program services $3,887,333

  • 5 · Compensation of officers, directors and key employees

    total $881,429 · program services $354,321 · management and general $440,071 · fundraising $87,037

  • 7 · Other salaries and wages

    total $6,447,387 · program services $5,245,722 · management and general $816,589 · fundraising $385,076

  • 8 · Pension plan contributions

    total $350,321 · program services $283,019 · management and general $36,982 · fundraising $30,320

  • 9 · Other employee benefits

    total $1,629,636 · program services $1,461,996 · management and general $116,279 · fundraising $51,361

  • 10 · Payroll taxes

    total $513,437 · program services $400,353 · management and general $80,906 · fundraising $32,178

  • 11b · Fees: legal

    total $49,625 · management and general $49,625

  • 11c · Fees: accounting

    total $130,583 · management and general $130,583

  • 11f · Fees: investment management

    total $174,476 · management and general $174,476

  • 11g · Fees: other

    total $547,318 · program services $486,722 · management and general $58,011 · fundraising $2,585

  • 12 · Advertising and promotion

    total $351,894 · program services $18,865 · management and general $333,029

  • 13 · Office expenses

    total $885,749 · program services $808,305 · management and general $38,878 · fundraising $38,566

  • 14 · Information technology

    total $314,994 · program services $176,696 · management and general $115,366 · fundraising $22,932

  • 16 · Occupancy

    total $1,395,557 · program services $1,332,395 · management and general $63,162

  • 17 · Travel

    total $274,004 · program services $97,289 · management and general $159,275 · fundraising $17,440

  • 20 · Interest

    total $324,367 · management and general $324,367

  • 22 · Depreciation, depletion and amortization

    total $1,972,680 · program services $1,804,254 · management and general $168,426

  • 23 · Insurance

    total $423,307 · program services $13,598 · management and general $409,709

  • 24a · Other expenses: FOOD

    total $516,607 · program services $516,607

  • 24b · Other expenses: ATHLETICS

    total $36,878 · program services $36,878

  • 24c · Other expenses: PROFESSIONAL DEVELOPMEN

    total $28,343 · program services $20,510 · management and general $7,833

  • 24e · All other expenses

    total $740,742 · program services $155,931 · management and general $572,137 · fundraising $12,674

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,800,222 · end of year $5,345,289

  • 2 · Savings and temporary cash investments

    beginning of year $20,375 · end of year $29,769

  • 3 · Pledges and grants receivable

    beginning of year $2,134,851 · end of year $1,680,542

  • 8 · Inventories for sale or use

    beginning of year $177,872 · end of year $174,411

  • 9 · Prepaid expenses and deferred charges

    beginning of year $139,161 · end of year $97,222

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

    $59,521,755

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

    $28,039,299

  • 10c · Land, buildings and equipment, net

    beginning of year $32,002,050 · end of year $31,482,456

  • 11 · Investments: publicly traded securities

    beginning of year $34,407,683 · end of year $36,178,956

  • 12 · Investments: other securities

    beginning of year $6,381,356 · end of year $7,446,191

  • 15 · Other assets

    beginning of year $545,514 · end of year $545,514

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,001,878 · end of year $327,131

  • 19 · Deferred revenue

    beginning of year $2,901,386 · end of year $2,400,987

  • 20 · Tax-exempt bond liabilities

    beginning of year $8,255,020 · end of year $4,717,416

  • 23 · Secured mortgages and notes payable

    beginning of year $610,939 · end of year $585,659

  • 25 · Other liabilities

    beginning of year $201,016 · end of year $295,120

  • 27 · Net assets without donor restrictions

    beginning of year $35,317,287 · end of year $43,838,948

  • 28 · Net assets with donor restrictions

    beginning of year $30,321,558 · end of year $30,815,089

Mission and programs · 2024

Mission

THE ORGANIZATION IS COMMITTED TO DEVELOPING EACH STUDENT'S FULL INTELLECTUAL, ARTISTIC AND PHYSICAL POTENTIAL. STUDENTS ARE ENCOURAGED TO CHALLENGE THEMSELVES INTELLECTUALLY, TO PURSUE RIGOROUS LEARNING FOR ITS OWN SAKE, (SEE SCHEDULE O)THE ORGANIZATION IS COMMITTED TO DEVELOPING EACH STUDENT'S FULL INTELLECTUAL, ARTISTIC AND PHYSICAL POTENTIAL. STUDENTS ARE ENCOURAGED TO CHALLENGE THEMSELVES INTELLECTUALLY, TO PURSUE RIGOROUS LEARNING FOR ITS OWN SAKE, TO ACTIVELY PARTICIPATE IN AND APPRECIATE THE ARTS, TO CONTRIBUTE MEANINGFULLY TO THE WORK PROGRAM THAT SUSTAINS THE SCHOOL COMMUNITY AND THE FARM ON WHICH IT IS LOCATED, TO ENGAGE IN VIGOROUS ATHLETICS, AND TO DEVELOP A SOCIAL CONSCIOUSNESS AND WORLD VIEW THAT WILL PROVIDE THE FOUNDATION FOR LIFE-LONG MORAL AND INTELLECTUAL GROWTH.

Activities or mission (Part I)

INDEPENDENT, COEDUCATIONAL BOARDING AND DAY SECONDARY SCHOOL.

  • THE PUTNEY SCHOOL PROVIDES AN EDUCATIONAL PROGRAM FOR APPROXIMATELY 165 BOARDING AND 61 DAY HIGH SCHOOL STUDENTS.

    Expenses $17,100,794 · Grants $3,887,333 · Revenue $16,932,063

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

Listed in Part VII

  • Abigail Verney-Fink

    FACULTY TRUSTEE

    Total calculated
    $84,939
    From this org
    $53,941
    From related orgs
    $0
    Other
    $30,998
    Hours/week
    40
  • Bob Raynolds

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Caitlin Baggott Davis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Carol Hodgman

    FACULTY TRUSTEE

    Total calculated
    $133,002
    From this org
    $44,379
    From related orgs
    $0
    Other
    $88,623
    Hours/week
    40
  • Charlie Young

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Cyane B Dandridge

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Daniel O'Brien

    HEAD OF SCHOOL/TRUSTEE

    Total calculated
    $360,077
    From this org
    $318,824
    From related orgs
    $0
    Other
    $41,253
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $318,779
    Bonus
    $0
    Other
    $45
    Deferred
    $27,561
    Nontaxable benefits
    $13,692
    Filer's total
    $360,077
  • Dinah Buechner-Vischer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Drew Beresford

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Elizabeth Blaylock

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1
  • Ethan Gray

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Heather Freedman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Innocent Ndubuisi Obi

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Jennifer Just

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • John MacIntosh

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Jonathan Lash

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Joshua Laughlin

    CHAIR

    Total calculated
    $0
    Hours/week
    1
  • Kelly Reese

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Laura E Berner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Marni Rosner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Natasha Byus

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1
  • Rebecca Geary

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Thomas Steele-Maley

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Tonia Wheeler

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Yiru Steven Jiang

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • Katy Wolfe

    CLERK

    Total calculated
    $80,829
    From this org
    $61,783
    From related orgs
    $0
    Other
    $19,046
    Hours/week
    40
  • Stephanie Harkins

    TREASURER/CFOO

    Total calculated
    $162,405
    From this org
    $154,903
    From related orgs
    $0
    Other
    $7,502
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,858
    Bonus
    $0
    Other
    $45
    Deferred
    $7,502
    Nontaxable benefits
    $0
    Filer's total
    $162,405
  • Daniel Folgar

    DIRECTOR OF SUMMER PROGRAMS

    Total calculated
    $109,399
    From this org
    $101,280
    From related orgs
    $0
    Other
    $8,119
    Hours/week
    40
  • Kayla Yannatos

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $155,207
    From this org
    $129,805
    From related orgs
    $0
    Other
    $25,402
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,607
    Bonus
    $0
    Other
    $198
    Deferred
    $10,744
    Nontaxable benefits
    $14,658
    Filer's total
    $155,207
  • Kevin Champney

    DIRECTOR OF TECHNOLOGY

    Total calculated
    $147,274
    From this org
    $123,644
    From related orgs
    $0
    Other
    $23,630
    Hours/week
    40

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 · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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
CERTAIN FACULTY ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF THEIR EMPLOYMENT. THE FOLLOWING INDIVIDUALS LISTED ON PART VII OF THE FORM 990 ARE REQUIRED TO LIVE ON CAMPUS: DANIEL O'BRIEN, DANIEL FOLGAR, AND ABIGAIL VERNEY-FINK.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
14 May 2026
IRS schema version
2024v5.5
Source object
202601359349303265

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