Totals
- Total revenue
- $19,374,809
- Total expenses
- $21,391,609
- Contributions and grants received
- $3,797,645
- Grants paid
- $8,658,542
- Program service revenue
- $15,432,585
- Investment income
- $144,579
- Other revenue
- $0
- Total assets, end of year
- $19,844,143
- Total liabilities, end of year
- $5,580,367
- Net assets or fund balances, end of year
- $14,263,776
- Program services expenses (Part IX)
- $18,470,723
- Management and general expenses
- $2,246,613
- Fundraising expenses
- $674,273
- Program service expenses (Part III)
- $18,470,723
Program services were 86.3% 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.
-
1e · Government grants (contributions)
$745,000
-
1f · All other contributions, gifts and grants
$3,052,645
-
2a · Program service revenue: TUITION
total $14,501,000 · related or exempt $14,501,000
-
2b · Program service revenue: PROGRAM SUPPORTING REVENUE
total $899,585 · related or exempt $899,585
-
2c · Program service revenue: SUMMER PROGRAMS
total $32,000 · related or exempt $32,000
-
3 · Investment income
total $144,579 · excluded $144,579
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $8,658,542 · program services $8,658,542
-
5 · Compensation of officers, directors and key employees
total $457,879 · management and general $457,879
-
7 · Other salaries and wages
total $4,923,331 · program services $3,938,665 · management and general $541,566 · fundraising $443,100
-
9 · Other employee benefits
total $271,969 · program services $217,575 · management and general $29,917 · fundraising $24,477
-
10 · Payroll taxes
total $416,417 · program services $333,134 · management and general $45,806 · fundraising $37,477
-
11b · Fees: legal
total $11,096 · management and general $11,096
-
11c · Fees: accounting
total $22,024 · management and general $22,024
-
11g · Fees: other
total $352,345 · program services $224,871 · management and general $118,832 · fundraising $8,642
-
12 · Advertising and promotion
total $114,940 · management and general $50,762 · fundraising $64,178
-
13 · Office expenses
total $214,528 · program services $106,628 · management and general $68,311 · fundraising $39,589
-
14 · Information technology
total $236,311 · program services $236,311
-
16 · Occupancy
total $1,366,788 · program services $1,316,627 · management and general $39,637 · fundraising $10,524
-
17 · Travel
total $267,471 · program services $219,789 · management and general $25,905 · fundraising $21,777
-
19 · Conferences, conventions and meetings
total $105,899 · program services $87,021 · management and general $10,256 · fundraising $8,622
-
20 · Interest
total $14,202 · program services $14,202
-
22 · Depreciation, depletion and amortization
total $570,901 · program services $549,948 · management and general $16,557 · fundraising $4,396
-
23 · Insurance
total $158,329 · program services $158,329
-
24a · Other expenses: REPAIRS AND MAINTENANCE
total $1,303,920 · program services $1,256,305 · management and general $40,145 · fundraising $7,470
-
24b · Other expenses: OTHER EXPENSES
total $1,043,631 · program services $290,742 · management and general $752,889
-
24c · Other expenses: SCHOOL ACTIVITIES AND M
total $480,584 · program services $463,035 · management and general $13,854 · fundraising $3,695
-
24d · Other expenses: CREDIT LOSS EXPENSE
total $228,339 · program services $228,339
-
24e · All other expenses
total $172,163 · program services $170,660 · management and general $1,177 · fundraising $326
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $285,649 · end of year $494,524
-
3 · Pledges and grants receivable
beginning of year $140,718 · end of year $500,000
-
4 · Accounts receivable
beginning of year $786,132 · end of year $75,000
-
8 · Inventories for sale or use
beginning of year $112,770 · end of year $108,000
-
9 · Prepaid expenses and deferred charges
beginning of year $242,382 · end of year $98,843
-
10a · Land, buildings and equipment: cost or other basis
$29,751,729
-
10b · Land, buildings and equipment: accumulated depreciation
$18,829,613
-
10c · Land, buildings and equipment, net
beginning of year $11,561,060 · end of year $10,922,116
-
11 · Investments: publicly traded securities
beginning of year $9,737,566 · end of year $7,645,660
-
15 · Other assets
beginning of year $141,740
-
17 · Accounts payable and accrued expenses
beginning of year $1,118,082 · end of year $2,384,780
-
19 · Deferred revenue
beginning of year $0 · end of year $567,234
-
23 · Secured mortgages and notes payable
beginning of year $2,003,890 · end of year $2,628,353
-
25 · Other liabilities
beginning of year $138,652 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $2,448,363 · end of year $9,138,341
-
28 · Net assets with donor restrictions
beginning of year $17,299,030 · end of year $5,125,435
Mission and programs · 2024
Mission
TO PROVIDE A SUPPORTIVE COMMUNITY AND CLOSE PERSONAL ATTENTION TO ITS STUDENTS. VERMONT ACADEMY DEVELOPS CONFIDENT, ACTIVE LEARNERS AND RESPECTFUL CITIZENS.
Activities or mission (Part I)
WE ARE DEVOTED TO CREATING CONFIDENT AND INDEPENDENT LEARNERS THROUGH PERSONAL ATTENTION IN A UNIQUE VERMONT ENVIRONMENT. WE BELIEVE IN OUR STUDENTS AND IN THEIR CAPACITY TO LEARN AND DEVELOP INTO RESPONSIBLE, SELF-DISCIPLINED ADULTS. OUR FACULTY AND STAFF ARE COMMITTED TO HELPING STUDENTS DISCOVER THEIR INDIVIDUAL TALENTS AND DEVELOP THE CHARACTER, STRENGTH, AND SKILLS TO MEET THE CHALLENGES IN THEIR LIVES.
-
VERMONT ACADEMY IS A PRIVATE BOARDING AND DAY SCHOOL PROVIDING A BROAD CURRICULUM AND AN EXTENSIVE ATHLETIC PROGRAM. PROGRAMS OF NOTE ARE FOUND IN THE CENTER FOR LEARNINGS, THE ARTS, AND IN OUR SCIENCE AND ENGINEERING CURRICULUM.
Expenses $18,470,723 · Grants $8,658,542 · Revenue $15,432,585
As filed on the 2024 return.
Listed in Part VII
-
Jeremy HerbertJEREMY HERBERT
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Jayson DunbarJAYSON DUNBAR
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Michael ChoukasMICHAEL CHOUKAS
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Linda SaarnijokiLINDA SAARNIJOKI
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Phillip PeckPHILLIP PECK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Diane WilderDIANE WILDER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jeannliss SanchezJEANNLISS SANCHEZ
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Shawne RobinsonSHAWNE ROBINSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mary LibuttiMARY LIBUTTI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
William HosleyWILLIAM HOSLEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mary Elizabeth AdelsonMARY ELIZABETH ADELSON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jeff JacobsJEFF JACOBS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Adam TschornADAM TSCHORN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Lisa BirminghamLISA BIRMINGHAM
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Bob McHughBOB MCHUGH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Todd OrmistonTODD ORMISTON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Chris CroftCHRIS CROFT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Katherine DoubleKATHERINE DOUBLE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Scott BuckleySCOTT BUCKLEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Shawn ByronSHAWN BYRON
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Lisa BianconiLISA BIANCONI
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Nick VaughnNICK VAUGHN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Sean BersellSEAN BERSELL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
George AtkinsGEORGE ATKINS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jennifer ZaccaraJENNIFER ZACCARA
HEAD OF SCHOOL
- Total calculated
- $266,601
- From this org
- $240,421
- From related orgs
- $0
- Other
- $26,180
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $240,421
- Bonus
- $0
- Other
- $0
- Deferred
- $14,700
- Nontaxable benefits
- $11,480
- Filer's total
- $266,601
-
Vincent SchuckVINCENT SCHUCK
CFO/COO
- Total calculated
- $195,130
- From this org
- $183,780
- From related orgs
- $0
- Other
- $11,350
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $183,780
- Bonus
- $0
- Other
- $0
- Deferred
- $5,550
- Nontaxable benefits
- $5,800
- Filer's total
- $195,130
-
Benjamin GardnerBENJAMIN GARDNER
DIRECTOR OF VAMS
- Total calculated
- $143,163
- From this org
- $137,363
- From related orgs
- $0
- Other
- $5,800
- Hours/week
- 40
-
Brian GilloranBRIAN GILLORAN
ASST. HEAD OF SCHOOL
- Total calculated
- $135,135
- From this org
- $119,893
- From related orgs
- $0
- Other
- $15,242
- Hours/week
- 40
-
Tonia FlemingTONIA FLEMING
DIRECTOR OF ADVANCEMENT
- Total calculated
- $134,755
- From this org
- $115,931
- From related orgs
- $0
- Other
- $18,824
- 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 · Discretionary spending account
- 1a · Housing allowance or residence for personal use
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Written employment contract
- 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
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
- 202611349349302931
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