Totals
- Total revenue
- $32,451,096
- Total expenses
- $26,134,470
- Contributions and grants received
- $2,144,437
- Grants paid
- $2,722,023
- Program service revenue
- $21,784,032
- Investment income
- $8,409,775
- Other revenue
- $112,852
- Total assets, end of year
- $134,537,870
- Total liabilities, end of year
- $17,443,672
- Net assets or fund balances, end of year
- $117,094,198
- Program services expenses (Part IX)
- $20,632,700
- Management and general expenses
- $4,737,602
- Fundraising expenses
- $764,168
- Program service expenses (Part III)
- $20,632,700
Program services were 78.9% 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
$2,144,437
-
1g · Noncash contributions included above
$286,890
-
2a · Program service revenue: SCHOOL TUITION
total $18,067,333 · related or exempt $18,067,333
-
2b · Program service revenue: AUXILIARY PROGRAMS
total $3,716,699 · related or exempt $3,716,699
-
3 · Investment income
total $2,917,536 · unrelated business -$2,363 · excluded $2,919,899
-
6a · Gross rents
real property $48,780
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $48,780
-
6d · Net rental income or loss
total $48,780 · excluded $48,780
-
7a · Gross sales of assets other than inventory
securities $20,314,514
-
7b · Less cost or other basis and sales expenses
securities $14,822,275
-
7c · Gain or loss
securities $5,492,239
-
7d · Net gain or loss
total $5,492,239 · excluded $5,492,239
-
10a · Gross sales of inventory
$46,447
-
10b · Cost of goods sold
$24,643
-
10c · Net income from sales of inventory
total $21,804 · excluded $21,804
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $42,268 · excluded $42,268
-
11e · Other revenue, total
$42,268
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $2,722,023 · program services $2,722,023
-
5 · Compensation of officers, directors and key employees
total $784,793 · program services $579,866 · management and general $172,769 · fundraising $32,158
-
6 · Compensation of disqualified persons
total $96,958 · program services $96,958
-
7 · Other salaries and wages
total $10,291,109 · program services $7,578,575 · management and general $2,286,869 · fundraising $425,665
-
8 · Pension plan contributions
total $570,777 · program services $421,725 · management and general $125,662 · fundraising $23,390
-
9 · Other employee benefits
total $2,649,779 · program services $1,957,819 · management and general $583,374 · fundraising $108,586
-
10 · Payroll taxes
total $795,733 · program services $587,936 · management and general $175,188 · fundraising $32,609
-
11b · Fees: legal
total $44,470 · program services $13,744 · management and general $30,726
-
11c · Fees: accounting
total $67,276 · management and general $67,276
-
11f · Fees: investment management
total $111,149 · management and general $111,149
-
11g · Fees: other
total $217,778 · program services $48,815 · management and general $168,963
-
12 · Advertising and promotion
total $106,345 · management and general $105,838 · fundraising $507
-
13 · Office expenses
total $821,678 · program services $639,050 · management and general $176,298 · fundraising $6,330
-
14 · Information technology
total $457,756 · program services $343,317 · management and general $91,551 · fundraising $22,888
-
16 · Occupancy
total $1,381,108 · program services $1,250,938 · management and general $130,170
-
19 · Conferences, conventions and meetings
total $238,775 · program services $148,276 · management and general $52,054 · fundraising $38,445
-
20 · Interest
total $465,029 · program services $409,226 · management and general $55,803
-
22 · Depreciation, depletion and amortization
total $2,152,933 · program services $1,894,580 · management and general $258,353
-
23 · Insurance
total $315,113 · program services $277,299 · management and general $37,814
-
24a · Other expenses: STUDENT SERVICES
total $1,585,275 · program services $1,585,275
-
24b · Other expenses: ENTERTAINMENT
total $98,895 · program services $4,397 · management and general $36,993 · fundraising $57,505
-
24c · Other expenses: MEMBERSHIP DUES
total $64,066 · program services $55,255 · management and general $6,367 · fundraising $2,444
-
24d · Other expenses: MGP SUMMER PROGRAM
total $17,626 · program services $17,626
-
24e · All other expenses
total $78,026 · management and general $64,385 · fundraising $13,641
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,433 · end of year $2,558
-
2 · Savings and temporary cash investments
beginning of year $1,133,969 · end of year $1,305,331
-
3 · Pledges and grants receivable
beginning of year $1,382,499 · end of year $579,822
-
4 · Accounts receivable
beginning of year $103,098 · end of year $277,384
-
8 · Inventories for sale or use
beginning of year $75,564 · end of year $77,311
-
9 · Prepaid expenses and deferred charges
beginning of year $387,849 · end of year $475,121
-
10a · Land, buildings and equipment: cost or other basis
$75,869,880
-
10b · Land, buildings and equipment: accumulated depreciation
$25,899,372
-
10c · Land, buildings and equipment, net
beginning of year $46,952,366 · end of year $49,970,508
-
11 · Investments: publicly traded securities
beginning of year $54,380,982 · end of year $58,798,939
-
12 · Investments: other securities
beginning of year $16,443,583 · end of year $16,817,325
-
15 · Other assets
beginning of year $7,973,401 · end of year $6,233,571
-
17 · Accounts payable and accrued expenses
beginning of year $1,522,799 · end of year $1,719,444
-
19 · Deferred revenue
beginning of year $4,105,395 · end of year $4,035,082
-
20 · Tax-exempt bond liabilities
beginning of year $5,967,333 · end of year $5,479,332
-
23 · Secured mortgages and notes payable
beginning of year $1,250,000 · end of year $1,865,454
-
25 · Other liabilities
beginning of year $4,409,192 · end of year $4,344,360
-
27 · Net assets without donor restrictions
beginning of year $95,686,292 · end of year $100,445,313
-
28 · Net assets with donor restrictions
beginning of year $15,894,733 · end of year $16,648,885
Mission and programs · 2023
Mission
CALVERT SCHOOL IS DEDICATED TO EDUCATING BOYS AND GIRLS THROUGH ITS TIME-TESTED METHOD OF TEACHING AND ITS RIGOROUS CURRICULUM. PARTICULAR EMPHASIS IS GIVEN TO MASTERING ESSENTIAL SKILLS, INSPIRING A LIFELONG LOVE OF LEARNING, AND INSTILLING ENTHUSIASM, RESPONSIBILITY, AND SELF-DISCIPLINE. CALVERT SEEKS TO DEVELOP STUDENTS OF HIGH ACADEMIC ACHIEVEMENT, INTELLECTUAL CURIOSITY, AND STRONG MORAL CHARACTER WITHIN A SUPPORTIVE AND DIVERSE COMMUNITY.FORM 990, PART VI, SECTION B, LINE 10A:THE POLICIES DESCRIBED IN PART VI, SECTION B, LINES 10A-16B APPLY TO CALVERT SCHOOL INCORPORATED AND ITS AFFILIATES AS LISTED BELOW: CALVERT TUSCANY ACQUISITION 2018, LLC
Activities or mission (Part I)
CALVERT SCHOOL IS DEDICATED TO EDUCATING BOYS AND GIRLS THROUGH ITS TIME-TESTED METHOD OF TEACHING AND ITS RIGOROUS CURRICULUM. PARTICULAR EMPHASIS IS GIVEN TO MASTERING ESSENTIAL SKILLS, INSPIRING A LIFELONG LOVE OF LEARNING, AND INSTILLING ENTHUSIASM, RESPONSIBILITY, AND SELF-DISCIPLINE. CALVERT SEEKS TO DEVELOP STUDENTS OF HIGH ACADEMIC ACHIEVEMENT, INTELLECTUAL CURIOSITY, AND STRONG MORAL CHARACTER WITHIN A SUPPORTIVE AND DIVERSE COMMUNITY.
-
CALVERT SCHOOL IS A COEDUCATIONAL INSTITUTION PROVIDING INSTRUCTION TO STUDENTS BEGINNING WITH EARLY CHILDHOOD AND CONTINUING ON THROUGH ELEMENTARY AND MIDDLE SCHOOL GRADES.
Expenses $20,061,735 · Grants $2,722,023 · Revenue $20,675,431
-
AFTER SCHOOL CARE, SUMMER CAMPS AND SCHOOL CLUBS.
Expenses $570,965 · Revenue $1,108,601
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Edwin J InsleyEDWIN J INSLEY
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5
-
Dyson DrydenDYSON DRYDEN
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Patrick CameronPATRICK CAMERON
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Wendy BondWENDY BOND
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Dave BrambleDAVE BRAMBLE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Brittany BramhallBRITTANY BRAMHALL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Jon K CarnellJON K CARNELL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Maisie DevineMAISIE DEVINE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Kevin DumbarKEVIN DUMBAR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Scott FoleySCOTT FOLEY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Mark L FulchinoMARK L FULCHINO
TRUSTEE (PART YEAR)
- Total calculated
- $0
- Hours/week
- 2
-
Wendy GriswoldWENDY GRISWOLD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Betsey HobelmannBETSEY HOBELMANN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Ann M HolcombANN M HOLCOMB
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Henry HopkinsHENRY HOPKINS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Gayle S KellyGAYLE S KELLY
TRUSTEE (PART YEAR)
- Total calculated
- $0
- Hours/week
- 2
-
Marianna KorpusovaMARIANNA KORPUSOVA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Redonda G MillerREDONDA G MILLER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Mary MillerMARY MILLER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
David PowellDAVID POWELL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Andrew SchapiroANDREW SCHAPIRO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Annie WuANNIE WU
TRUSTEE
- Total calculated
- $0
- Hours/week
- 2
-
Andrew HolmgrenANDREW HOLMGREN
HEADMASTER
- Total calculated
- $663,174
- From this org
- $527,793
- From related orgs
- $0
- Other
- $135,381
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $444,340
- Bonus
- $0
- Other
- $83,453
- Deferred
- $19,800
- Nontaxable benefits
- $115,581
- Filer's total
- $663,174
-
Thomas S Travers JrTHOMAS S TRAVERS JR
DIRECTOR OF FINANCE & OPERATIONS
- Total calculated
- $299,778
- From this org
- $239,353
- From related orgs
- $0
- Other
- $60,425
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $198,169
- Bonus
- $3,592
- Other
- $37,592
- Deferred
- $11,890
- Nontaxable benefits
- $48,535
- Filer's total
- $299,778
-
Denise D FiorucciDENISE D FIORUCCI
DIRECTOR OF HUMAN RESOURCES
- Total calculated
- $204,024
- From this org
- $165,956
- From related orgs
- $0
- Other
- $38,068
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $164,924
- Bonus
- $0
- Other
- $1,032
- Deferred
- $10,032
- Nontaxable benefits
- $28,036
- Filer's total
- $204,024
-
Sarah CrowleySARAH CROWLEY
DIRECTOR OF ACADEMIC AFFAIRS
- Total calculated
- $185,555
- From this org
- $162,996
- From related orgs
- $0
- Other
- $22,559
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $161,964
- Bonus
- $0
- Other
- $1,032
- Deferred
- $9,757
- Nontaxable benefits
- $12,802
- Filer's total
- $185,555
-
Frederick M BuckFREDERICK M BUCK
HEAD OF MIDDLE SCHOOL
- Total calculated
- $193,646
- From this org
- $141,279
- From related orgs
- $0
- Other
- $52,367
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $133,466
- Bonus
- $0
- Other
- $7,813
- Deferred
- $5,270
- Nontaxable benefits
- $47,097
- Filer's total
- $193,646
-
Elizabeth MartinELIZABETH MARTIN
HEAD OF LOWER SCHOOL
- Total calculated
- $207,386
- From this org
- $148,868
- From related orgs
- $0
- Other
- $58,518
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $133,429
- Bonus
- $0
- Other
- $15,439
- Deferred
- $8,254
- Nontaxable benefits
- $50,264
- Filer's total
- $207,386
-
Nicole H WebsterNICOLE H WEBSTER
DIRECTOR OF ADMINISTRATION
- Total calculated
- $194,397
- From this org
- $139,114
- From related orgs
- $0
- Other
- $55,283
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $131,119
- Bonus
- $0
- Other
- $7,995
- Deferred
- $7,971
- Nontaxable benefits
- $47,312
- Filer's total
- $194,397
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
- 1a · Personal services (maid, chauffeur, chef)
- 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
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
- SEVERAL OFFICERS AND HIGHLY COMPENSATED EMPLOYEES RECEIVE GROSS-UP PAYMENTS WHICH ARE INCLUDED IN TAXABLE COMPENSATION. ANDREW HOLMGREN, HEADMASTER, IS REQUIRED TO LIVE IN A HOUSE LOCATED ON THE SCHOOL'S PREMISES FOR THE SCHOOL'S CONVENIENCE AND AS A CONDITION OF EMPLOYMENT. THIS BENEFIT WAS VALUED TO BE $85,473 AND IS INCLUDED AS A NON-TAXABLE BENEFIT. THE SCHOOL PROVIDES PERSONAL SERVICES TO SUPPORT BUSINESS EVENTS AT THE HEADMASTER'S RESIDENCE. THESE SERVICES ARE NOT CONSIDERED TAXABLE.
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.
-
CALVERT TUSCANY ACQUISITION 2018 LLC
PROPERTY HOLDING COMPANY · MD · income $0 · assets $2,549,480
Directly controlled by CALVERT SCHOOL INCORPORATED
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 1 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202541349349303229
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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