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Nonprofiteer
← HORACE MANN SCHOOL

Form 990 for tax year 2023

Filed by HORACE MANN SCHOOL.

Totals

Total revenue
$144,942,370
Total expenses
$124,599,171
Contributions and grants received
$19,804,417
Grants paid
$15,283,592
Program service revenue
$115,688,967
Investment income
$8,726,750
Other revenue
$722,236
Total assets, end of year
$512,054,660
Total liabilities, end of year
$143,960,240
Net assets or fund balances, end of year
$368,094,420
Program services expenses (Part IX)
$110,562,698
Management and general expenses
$11,221,154
Fundraising expenses
$2,815,319
Program service expenses (Part III)
$110,562,698

Program services were 88.7% 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.

  • 1c · Fundraising events

    $1,233,610

  • 1e · Government grants (contributions)

    $1,430,080

  • 1f · All other contributions, gifts and grants

    $17,140,727

  • 1g · Noncash contributions included above

    $2,043,338

  • 2a · Program service revenue: TUITION

    total $111,909,203 · related or exempt $111,909,203

  • 2b · Program service revenue: OTHER FEES

    total $3,124,892 · related or exempt $3,124,892

  • 2c · Program service revenue: OTHER PROGRAM REVENUES

    total $579,062 · related or exempt $579,062

  • 2d · Program service revenue: AUXILIARY REVENUES

    total $75,810 · related or exempt $75,810

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $6,667,303 · excluded $6,667,303

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $64,258,856

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

    securities $62,199,409

  • 7c · Gain or loss

    securities $2,059,447 · other assets $0

  • 7d · Net gain or loss

    total $2,059,447 · excluded $2,059,447

  • 8a · Fundraising events: gross income

    $265,650

  • 8a · Fundraising events: contributions included on line 1c

    $1,233,610

  • 8b · Fundraising events: direct expenses

    $279,716

  • 8c · Net income from fundraising events

    total -$14,066 · excluded -$14,066

  • 11a · Other revenue: OTHER

    total $736,302 · excluded $736,302

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $736,302

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $170,000 · program services $170,000

  • 2 · Grants to domestic individuals

    total $15,113,592 · program services $15,113,592

  • 5 · Compensation of officers, directors and key employees

    total $4,076,061 · program services $3,177,375 · management and general $802,553 · fundraising $96,133

  • 7 · Other salaries and wages

    total $51,216,836 · program services $47,160,937 · management and general $2,911,686 · fundraising $1,144,213

  • 8 · Pension plan contributions

    total $4,529,160 · program services $4,155,373 · management and general $269,641 · fundraising $104,146

  • 9 · Other employee benefits

    total $7,443,198 · program services $6,811,247 · management and general $458,802 · fundraising $173,149

  • 10 · Payroll taxes

    total $3,742,572 · program services $3,413,953 · management and general $244,690 · fundraising $83,929

  • 11b · Fees: legal

    total $280,592 · management and general $280,592

  • 11c · Fees: accounting

    total $111,482 · management and general $111,482

  • 11f · Fees: investment management

    total $140,099 · management and general $140,099

  • 11g · Fees: other

    total $4,024,643 · program services $3,132,055 · management and general $817,650 · fundraising $74,938

  • 13 · Office expenses

    total $2,689,630 · program services $2,120,299 · management and general $471,260 · fundraising $98,071

  • 14 · Information technology

    total $1,626,259 · program services $1,138,381 · management and general $406,565 · fundraising $81,313

  • 16 · Occupancy

    total $4,341,819 · program services $3,907,637 · management and general $390,764 · fundraising $43,418

  • 17 · Travel

    total $571,759 · program services $535,372 · management and general $35,961 · fundraising $426

  • 19 · Conferences, conventions and meetings

    total $1,004,896 · program services $784,331 · management and general $75,987 · fundraising $144,578

  • 20 · Interest

    total $1,628,211 · program services $1,628,211

  • 22 · Depreciation, depletion and amortization

    total $10,008,654 · program services $9,007,789 · management and general $900,779 · fundraising $100,086

  • 23 · Insurance

    total $937,836 · management and general $937,836

  • 24a · Other expenses: OTHER

    total $6,569,570 · program services $4,003,012 · management and general $1,913,304 · fundraising $653,254

  • 24b · Other expenses: FOOD SERVICE

    total $4,221,009 · program services $4,151,841 · management and general $51,503 · fundraising $17,665

  • 24c · Other expenses: Parents Association

    total $151,293 · program services $151,293

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,056,085 · end of year $4,058,995

  • 2 · Savings and temporary cash investments

    beginning of year $35,422,303 · end of year $13,677,887

  • 3 · Pledges and grants receivable

    beginning of year $15,858,181 · end of year $15,320,403

  • 4 · Accounts receivable

    beginning of year $48,634 · end of year $161,238

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $102,204 · end of year $91,469

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,128,163 · end of year $495,836

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

    $291,905,369

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

    $112,340,591

  • 10c · Land, buildings and equipment, net

    beginning of year $184,429,654 · end of year $179,564,778

  • 11 · Investments: publicly traded securities

    beginning of year $161,159,801 · end of year $212,763,661

  • 12 · Investments: other securities

    beginning of year $68,829,517 · end of year $83,353,805

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $2,265,673 · end of year $2,566,588

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,550,050 · end of year $6,204,669

  • 19 · Deferred revenue

    beginning of year $62,734,540 · end of year $64,145,154

  • 20 · Tax-exempt bond liabilities

    beginning of year $16,446,018 · end of year $14,058,823

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $30,711,264 · end of year $30,764,401

  • 25 · Other liabilities

    beginning of year $27,774,940 · end of year $28,787,193

  • 27 · Net assets without donor restrictions

    beginning of year $275,828,741 · end of year $306,235,746

  • 28 · Net assets with donor restrictions

    beginning of year $51,254,662 · end of year $61,858,674

Mission and programs · 2023

Mission

HORACE MANN SCHOOL PREPARES A DIVERSE COMMUNITY OF STUDENTS TO LEAD GREAT AND GIVING LIVES. WE STRIVE TO MAINTAIN A SAFE, SECURE, AND CARING ENVIRONMENT IN WHICH MUTUAL RESPECT, MATURE BEHAVIOR, AND THE LIFE OF THE MIND CAN THRIVE. WE RECOGNIZE AND CELEBRATE INDIVIDUAL ACHIEVEMENT AND CONTRIBUTIONS TO THE COMMON GOOD.

Activities or mission (Part I)

TO PROVIDE A CONTINUOUS EDUCATION PROGAM FOR BOYS, GIRLS, AND OTHERS WHO IDENTIFY DIFFERENTLY, FROM NURSERY THROUGH HIGH SCHOOL.

  • HORACE MANN SCHOOL IS AN EDUCATIONAL INSTITUTION CONDUCTING PROGRAM AT THE NURSERY, LOWER, MIDDLE, AND HIGH SCHOOL LEVELS. DURING THE 2023-2024 SCHOOL YEAR, THE STUDENT BODY CONSISTED OF 1,795 STUDENTS.

    Expenses $110,562,698 · Grants $15,283,592 · Revenue $115,688,967

As filed on the 2023 return.

Listed in Part VII

  • Andrea L Olshan

    Secretary

    Total calculated
    $0
    Hours/week
    8

  • Brian L Eizenstat

    Treasurer

    Total calculated
    $0
    Hours/week
    8

  • Laurence Grafstein

    Chair

    Total calculated
    $0
    Hours/week
    8

  • Matthew Mark

    Vice-Chair

    Total calculated
    $0
    Hours/week
    8

  • Avinash Mehrotra

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Catherine Goodstein Wallace

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Daniel Benton

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Drew Figdor

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Ephram Lustgarten

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Glenn August

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Howard W Lutnick

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Irfan Hussain

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Jackie Friedman Brogadir

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Justin D Lerer

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Karen Choi

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Keren Weltsch

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Lauren Krueger

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Mariko Zeitlin

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Matthew Morgado

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Michael A Pruzan

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Michael Bennett

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Monica M Mandelli

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Robert O Owens

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Samantha Cooper Brand

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Sara Zion

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Stephen Mong

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Steven C Bussey

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Susan Asante-Abedi

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Tracy Hampton-Fraser

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Vinayak Singh

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Webster Chua

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • Winston C Fisher

    Trustee

    Total calculated
    $0
    Hours/week
    8

  • David Roberts

    Chief Financial Officer

    Total calculated
    $410,777
    From this org
    $331,018
    From related orgs
    $0
    Other
    $79,759
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $297,456
    Bonus
    $2,500
    Other
    $31,062
    Deferred
    $33,000
    Nontaxable benefits
    $46,759
    Filer's total
    $410,777

  • Thomas Kelly

    Head of School

    Total calculated
    $3,171,855
    From this org
    $2,805,522
    From related orgs
    $0
    Other
    $366,333
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $1,155,826
    Bonus
    $200,000
    Other
    $1,449,696
    Deferred
    $366,333
    Nontaxable benefits
    $0
    Filer's total
    $3,171,855

  • Deena Neuwirth

    Head of Lower Division

    Total calculated
    $463,192
    From this org
    $357,804
    From related orgs
    $0
    Other
    $105,388
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $353,733
    Bonus
    $3,000
    Other
    $1,071
    Deferred
    $33,000
    Nontaxable benefits
    $72,388
    Filer's total
    $463,192

  • Javaid Khan

    Head of Middle Division

    Total calculated
    $401,522
    From this org
    $322,356
    From related orgs
    $0
    Other
    $79,166
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $310,177
    Bonus
    $2,500
    Other
    $9,679
    Deferred
    $32,083
    Nontaxable benefits
    $47,083
    Filer's total
    $401,522

  • Jessica Levenstein Davis

    Head of Upper Division

    Total calculated
    $501,149
    From this org
    $394,079
    From related orgs
    $0
    Other
    $107,070
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $389,946
    Bonus
    $3,000
    Other
    $1,133
    Deferred
    $33,000
    Nontaxable benefits
    $74,070
    Filer's total
    $501,149

  • Marines Arroyo-Stuart

    Head of Nursery Division

    Total calculated
    $338,332
    From this org
    $265,789
    From related orgs
    $0
    Other
    $72,543
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $262,431
    Bonus
    $2,500
    Other
    $858
    Deferred
    $27,323
    Nontaxable benefits
    $45,220
    Filer's total
    $338,332

  • Canh Oxelson

    Executive Dir. College Counseling

    Total calculated
    $537,287
    From this org
    $455,613
    From related orgs
    $0
    Other
    $81,674
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $444,694
    Bonus
    $2,500
    Other
    $8,419
    Deferred
    $33,000
    Nontaxable benefits
    $48,674
    Filer's total
    $537,287

  • Gordon A Jensen

    Director of Facilities

    Total calculated
    $410,490
    From this org
    $357,062
    From related orgs
    $0
    Other
    $53,428
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $324,347
    Bonus
    $2,500
    Other
    $30,215
    Deferred
    $33,000
    Nontaxable benefits
    $20,428
    Filer's total
    $410,490

  • Lisa J Moreira

    Dir. Inst. Research & Enrollment

    Total calculated
    $465,825
    From this org
    $359,866
    From related orgs
    $0
    Other
    $105,959
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $350,313
    Bonus
    $0
    Other
    $9,553
    Deferred
    $32,341
    Nontaxable benefits
    $73,618
    Filer's total
    $465,825

  • Melissa Parento

    Director of Alumni/Development

    Total calculated
    $426,458
    From this org
    $323,070
    From related orgs
    $0
    Other
    $103,388
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $314,552
    Bonus
    $2,500
    Other
    $6,018
    Deferred
    $33,000
    Nontaxable benefits
    $70,388
    Filer's total
    $426,458

  • Robert A Annunziata

    Dir. Athletics & Summer Prgm

    Total calculated
    $352,920
    From this org
    $321,879
    From related orgs
    $0
    Other
    $31,041
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,004
    Bonus
    $144,573
    Other
    $45,302
    Deferred
    $13,887
    Nontaxable benefits
    $17,154
    Filer's total
    $352,920

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
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Housing allowance or residence for personal use
THE HOUSING ALLOWANCE IS PROVIDED TO THOMAS KELLY, HEAD OF SCHOOL, LISA MOREIRA, DIRECTOR OF INSTITUTIONAL RESEARCH & ENROLLMENT MANAGEMENT, AND GORDON JENSEN, DIRECTOR OF FACILITIES. HOUSING IS PROVIDED ON CAMPUS AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER PURSUANT TO CONTRACTUAL PROVISION AND IS NONTAXABLE. SOCIAL CLUB DUES ARE NON-TAXABLE BY VIRTUE OF BEING A WORKING CONDITION FRINGE UNDER IRC SECTION 132.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
THOMAS KELLY PARTICIPATED IN A 457(F) PLAN AND ACCRUED $333,333 DURING CALENDAR YEAR 2023.
Schedule J, Part I, Line 7 Non-fixed payments
THE HEAD OF SCHOOL'S BONUS WAS APPROVED BY THE BOARD CHAIR BASED ON PERFORMANCE. THE OTHER EMPLOYEES' BONUSES WERE APPROVED BY THE HEAD OF SCHOOL BASED ON PERFORMANCE.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
2 May 2025
IRS schema version
2023v6.0
Source object
202541229349302019

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