Form 990 for tax year 2024

Filed by ST PAULS SCHOOL.

Totals

Total revenue: $133,709,674
Total expenses: $89,097,183
Contributions and grants received: $15,797,913
Grants paid: $12,836,718
Program service revenue: $38,843,672
Investment income: $78,833,901
Other revenue: $234,188
Total assets, end of year: $1,054,322,060
Total liabilities, end of year: $101,197,719
Net assets or fund balances, end of year: $953,124,341
Program services expenses (Part IX): $68,345,270
Management and general expenses: $13,605,917
Fundraising expenses: $7,145,996
Program service expenses (Part III): $68,345,270

Program services were 76.7% 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.

1f · All other contributions, gifts and grants

$15,797,913
1g · Noncash contributions included above

$1,136,580
2a · Program service revenue: TUITION & FEES

total $38,843,672 · related or exempt $38,843,672
3 · Investment income

total $11,010,176 · unrelated business $1,150,061 · excluded $9,860,115
6a · Gross rents

real property $18,400
6b · Less rental expenses

real property $0
6c · Rental income or loss

real property $18,400
6d · Net rental income or loss

total $18,400 · excluded $18,400
7a · Gross sales of assets other than inventory

securities $354,712,509 · other assets $692,342
7b · Less cost or other basis and sales expenses

securities $287,053,034 · other assets $528,092
7c · Gain or loss

securities $67,659,475 · other assets $164,250
7d · Net gain or loss

total $67,823,725 · unrelated business $982,950 · excluded $66,840,775
11a · Other revenue: SCHOOL STORE AND SHOP

total $131,192 · excluded $131,192
11b · Other revenue: MISCELLANEOUS REVENUE

total $84,596 · excluded $84,596
11e · Other revenue, total

$215,788

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $12,836,718 · program services $12,836,718
5 · Compensation of officers, directors and key employees

total $1,321,374 · program services $688,487 · management and general $530,398 · fundraising $102,489
7 · Other salaries and wages

total $29,075,915 · program services $24,159,410 · management and general $2,222,091 · fundraising $2,694,414
8 · Pension plan contributions

total $2,899,305 · program services $2,335,255 · management and general $249,640 · fundraising $314,410
9 · Other employee benefits

total $4,770,801 · program services $2,751,996 · management and general $1,013,520 · fundraising $1,005,285
10 · Payroll taxes

total $1,766,354 · program services $1,092,430 · management and general $493,871 · fundraising $180,053
11b · Fees: legal

total $147,866 · program services $3,103 · management and general $144,340 · fundraising $423
11c · Fees: accounting

total $234,467 · program services $22,978 · management and general $208,675 · fundraising $2,814
11f · Fees: investment management

total $5,887,576 · management and general $5,887,576
11g · Fees: other

total $115,170 · program services $32,119 · management and general $77,893 · fundraising $5,158
13 · Office expenses

total $1,350,347 · program services $441,943 · management and general $303,711 · fundraising $604,693
14 · Information technology

total $860,977 · program services $657,171 · management and general $175,077 · fundraising $28,729
16 · Occupancy

total $7,544,563 · program services $6,832,765 · management and general $683,684 · fundraising $28,114
17 · Travel

total $761,124 · program services $459,745 · management and general $58,845 · fundraising $242,534
19 · Conferences, conventions and meetings

total $19,643 · program services $19,643
20 · Interest

total $2,750,873 · program services $2,613,329 · management and general $27,509 · fundraising $110,035
22 · Depreciation, depletion and amortization

total $10,747,134 · program services $9,028,762 · management and general $238,393 · fundraising $1,479,979
23 · Insurance

total $1,271,183 · program services $554,998 · management and general $669,278 · fundraising $46,907
24a · Other expenses: EDUCATION SUPPORT FOR P

total $1,645,972 · program services $1,644,070 · management and general $1,235 · fundraising $667
24b · Other expenses: ENTERTAINMENT / SPECIAL

total $1,471,858 · program services $673,727 · management and general $521,347 · fundraising $276,784
24c · Other expenses: SUPPLIES FOR PROGRAMS

total $1,371,591 · program services $1,287,910 · management and general $77,704 · fundraising $5,977
24d · Other expenses: DUES AND MEMBERSHIPS

total $246,372 · program services $208,711 · management and general $21,130 · fundraising $16,531

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $8,801,201 · end of year $5,132,044
2 · Savings and temporary cash investments

beginning of year $2,820,830 · end of year $495,410
3 · Pledges and grants receivable

beginning of year $3,493,478 · end of year $2,966,049
4 · Accounts receivable

beginning of year $382,012 · end of year $385,610
8 · Inventories for sale or use

beginning of year $174,329 · end of year $148,246
9 · Prepaid expenses and deferred charges

beginning of year $1,876,717 · end of year $2,197,244
10a · Land, buildings and equipment: cost or other basis

$368,521,199
10b · Land, buildings and equipment: accumulated depreciation

$143,122,068
10c · Land, buildings and equipment, net

beginning of year $213,015,506 · end of year $225,399,131
11 · Investments: publicly traded securities

beginning of year $146,742,568 · end of year $127,986,111
12 · Investments: other securities

beginning of year $630,210,888 · end of year $679,145,072
15 · Other assets

beginning of year $9,501,177 · end of year $10,467,143
17 · Accounts payable and accrued expenses

beginning of year $11,820,212 · end of year $8,523,440
20 · Tax-exempt bond liabilities

beginning of year $81,460,142 · end of year $81,483,663
25 · Other liabilities

beginning of year $9,518,997 · end of year $11,190,616
27 · Net assets without donor restrictions

beginning of year $321,441,768 · end of year $338,978,023
28 · Net assets with donor restrictions

beginning of year $592,777,587 · end of year $614,146,318

Mission and programs · 2024

Mission

ST. PAUL'S SCHOOL IS A FULLY RESIDENTIAL ACADEMIC COMMUNITY. IN EDUCATING STUDENTS TO BUILD PURPOSEFUL LIVES IN SERVICE TO THE GREATER GOOD, ST. PAUL'S SCHOOL ENGAGES YOUNG PEOPLE IN A DIVERSE, INCLUSIVE, AND ETHICAL COMMUNITY, DEDICATED TO THE PURSUIT OF (SEE SCHEDULE O) EXCELLENCE IN CHARACTER AND SCHOLARSHIP AND INSPIRED BY THE BEAUTY AND SPIRIT OF OUR MILLVILLE HOME.

Activities or mission (Part I)

ST. PAUL'S SCHOOL IS A FULLY RESIDENTIAL ACADEMIC COMMUNITY. (SEE SCHEDULE O) IN EDUCATING STUDENTS TO BUILD PURPOSEFUL LIVES IN SERVICE TO THE GREATER GOOD, ST. PAUL'S SCHOOL ENGAGES YOUNG PEOPLE IN A DIVERSE, INCLUSIVE, AND ETHICAL COMMUNITY, DEDICATED TO THE PURSUIT OF EXCELLENCE IN CHARACTER AND SCHOLARSHIP AND INSPIRED BY THE BEAUTY AND SPIRIT OF OUR MILLVILLE HOME.

ST. PAUL'S SCHOOL'S PRIMARY PROGRAM SERVICE IS THE EDUCATION OF STUDENTS IN GRADE 9 THROUGH 12, IN A COEDUCATIONAL FULLY RESIDENTIAL SCHOOL ENVIRONMENT. THE SCHOOL STRIVES TO BE AN INCLUSIVE, EQUITABLE, AND RICHLY DIVERSE COMMUNITY, ONE THAT IS COMMITTED TO ENSURING EQUAL ACCESS TO OPPORTUNITIES, AS WELL AS PROMOTING INDIVIDUAL GROWTH THROUGH LEARNING ABOUT THE SELF AND THE PERSPECTIVES AND EXPERIENCE OF OTHERS. THE CONCENTRATED ACADEMIC WORK DONE IN COLLABORATION BY THE STUDENTS AND FACULTY AT ST. PAUL'S SCHOOL IS THE HALLMARK OF OUR ACADEMIC PROGRAM. THROUGH THE SCHOOL'S RIGOROUS ACADEMIC STANDARDS, WE ENCOURAGE OUR MOTIVATED STUDENTS TO ATTAIN THE HIGHEST LEVELS OF SCHOLARSHIP AND INTELLECTUAL GROWTH AND DEVELOPMENT.

Expenses $66,980,721 · Grants $12,589,928 · Revenue $38,042,872
ST. PAUL'S SCHOOL FOUNDED THE ADVANCED STUDIES PROGRAM (ASP) IN 1958 TO PROVIDE TALENTED NEW HAMPSHIRE PUBLIC AND PAROCHIAL HIGH SCHOOL RISKING SENIORS WITH CHALLENGING EDUCATIONAL OPPORTUNITIES OTHERWISE UNAVAILABLE TO THEM. EACH SUMMER, YOUNG MEN AND WOMEN LIVE ON THE ST. PAUL'S SCHOOL'S CAMPUS FOR FIVE AND A HALF WEEKS. STUDENTS ARE IMMERSED IN A COLLEGE-LEVEL CURRICULUM AND CHALLENGED TO DISCOVER NEW WAYS OF LEARNING. ASP OFFERS A WIDE VARIETY OF COURSES FROM SHAKESPEARE TO ASTRONOMY, WHICH THOROUGHLY EXPLORE TOPICS IN SEVERAL DISCIPLINES. IN THEIR TIME AT ASP, STUDENTS BECOME IMMERSED IN THEIR SUBJECT OF CHOICE, SETTING THEM UP FOR A LIFELONG UNDERSTANDING OF THE MATERIAL. (SEE SCHEDULE O FOR CONTINUATION)ADDITIONALLY, ALL ASP STUDENTS HAVE AN OPPORTUNITY TO ENHANCE THEIR WRITING SKILLS THROUGH COMPULSORY INTERACTIVE WRITING WORKSHOPS.

Expenses $1,364,549 · Grants $246,790 · Revenue $800,800

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

Listed in Part VII

Kathy GilesKATHY GILES

RECTOR

Total calculated

$1,048,590

From this org

$947,300

From related orgs

$0

Other

$101,290

Hours/week

60

Schedule J breakdown matched by us

Base

$726,325

Bonus

$94,975

Other

$126,000

Deferred

$41,400

Nontaxable benefits

$59,890

Filer's total

$1,048,590
Mrs Candice BednarMRS CANDICE BEDNAR

TRUSTEE

Total calculated

$0

Hours/week

3
Mr William F DoyleMR WILLIAM F DOYLE

TRUSTEE

Total calculated

$0

Hours/week

3
Ms Susan M Fales-HillMS SUSAN M FALES-HILL

TRUSTEE

Total calculated

$0

Hours/week

3
Mr David A FleischnerMR DAVID A FLEISCHNER

TRUSTEE

Total calculated

$0

Hours/week

3
Mr Tully M FriedmanMR TULLY M FRIEDMAN

TRUSTEE

Total calculated

$0

Hours/week

3
Mr Henry C-T HoMR HENRY C-T HO

TRUSTEE

Total calculated

$0

Hours/week

3
Ms Elizabeth Henriques HughesMS ELIZABETH HENRIQUES HUGHES

TRUSTEE

Total calculated

$0

Hours/week

3
Mr Raymond Joseph JrMR RAYMOND JOSEPH JR

TRUSTEE

Total calculated

$0

Hours/week

3
Mr Alexander L KrongardMR ALEXANDER L KRONGARD

TRUSTEE

Total calculated

$0

Hours/week

3
Mrs Caroline Gilman La VoieMRS CAROLINE GILMAN LA VOIE

TRUSTEE

Total calculated

$0

Hours/week

3
Mr Ben A LoehnenMR BEN A LOEHNEN

TRUSTEE

Total calculated

$0

Hours/week

3
Mr Edward K-J ParkMR EDWARD K-J PARK

TRUSTEE

Total calculated

$0

Hours/week

3
Ms Elizabeth Overton RobbinsMS ELIZABETH OVERTON ROBBINS

TRUSTEE

Total calculated

$0

Hours/week

3
Mr Chase F RobinsonMR CHASE F ROBINSON

TRUSTEE

Total calculated

$0

Hours/week

3
Ms Page Montelle SargissonMS PAGE MONTELLE SARGISSON

TRUSTEE

Total calculated

$0

Hours/week

3
Ms Amy SingerMS AMY SINGER

TRUSTEE

Total calculated

$0

Hours/week

3
Mr Timothy A SteinertMR TIMOTHY A STEINERT

TRUSTEE

Total calculated

$0

Hours/week

3
Mrs Lauren E McKenna SurzynMRS LAUREN E MCKENNA SURZYN

TRUSTEE

Total calculated

$0

Hours/week

3
Mr Arthur W ZeckendorfMR ARTHUR W ZECKENDORF

TRUSTEE

Total calculated

$0

Hours/week

3
Mr David ScullyMR DAVID SCULLY

PRESIDENT

Total calculated

$0

Hours/week

10
Ms Nancy WalkerMS NANCY WALKER

TREASURER

Total calculated

$0

Hours/week

3
Mr Amachie K AckahMR AMACHIE K ACKAH

SECRETARY

Total calculated

$0

Hours/week

3
Dr Caroline Brooks Seay ViceDR CAROLINE BROOKS SEAY VICE

RECTOR FOR FINANCE & ADMINISTRATION

Total calculated

$475,558

From this org

$378,277

From related orgs

$0

Other

$97,281

Hours/week

50

Schedule J breakdown matched by us

Base

$353,752

Bonus

$0

Other

$24,525

Deferred

$41,400

Nontaxable benefits

$55,881

Filer's total

$475,558
Scott P BohanSCOTT P BOHAN

CHIEF ADVANCEMENT OFFICER

Total calculated

$323,453

From this org

$242,216

From related orgs

$0

Other

$81,237

Hours/week

50

Schedule J breakdown matched by us

Base

$242,133

Bonus

$0

Other

$83

Deferred

$30,235

Nontaxable benefits

$51,002

Filer's total

$323,453
Dr Theresa FernsDR THERESA FERNS

VICE RECTOR OF SCHOOL LIFE

Total calculated

$324,323

From this org

$226,297

From related orgs

$0

Other

$98,026

Hours/week

50

Schedule J breakdown matched by us

Base

$226,059

Bonus

$0

Other

$238

Deferred

$29,002

Nontaxable benefits

$69,024

Filer's total

$324,323
Dr John C BassiDR JOHN C BASSI

MEDICAL DIRECTOR

Total calculated

$309,144

From this org

$248,296

From related orgs

$0

Other

$60,848

Hours/week

60

Schedule J breakdown matched by us

Base

$248,058

Bonus

$0

Other

$238

Deferred

$29,897

Nontaxable benefits

$30,951

Filer's total

$309,144
Lori BohanLORI BOHAN

VR FOR ACADEMICS & FACULTY

Total calculated

$220,351

From this org

$183,472

From related orgs

$0

Other

$36,879

Hours/week

50

Schedule J breakdown matched by us

Base

$183,472

Bonus

$0

Other

$0

Deferred

$22,017

Nontaxable benefits

$14,862

Filer's total

$220,351
Donald SullivanDONALD SULLIVAN

DIRECTOR OF CAMPUS SAFETY

Total calculated

$218,781

From this org

$191,924

From related orgs

$0

Other

$26,857

Hours/week

50

Schedule J breakdown matched by us

Base

$191,841

Bonus

$0

Other

$83

Deferred

$23,387

Nontaxable benefits

$3,470

Filer's total

$218,781

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 · Compensation committee
3 · Independent compensation consultant
3 · Form 990 of other organizations
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)

PART I, LINE 1A: HOUSING ALLOWANCE - ST. PAUL'S SCHOOL IS A COEDUCATIONAL FULLY RESIDENTIAL SCHOOL. AS A REQUIREMENT OF EMPLOYMENT, ALL FACULTY MEMBERS MUST LIVE ON CAMPUS AND ARE PROVIDED NONTAXABLE HOUSING BY THE SCHOOL. LISTED EMPLOYEES WHO RECEIVED SCHOOL HOUSING ARE AS FOLLOWS: - MS. KATHY GILES - $28,800 - DR. CAROLINE BROOKS SEAY - $28,800 - DR. JOHN C. BASSI - $28,800 - MR. SCOTT BOHAN - $14,400 - DR. THERESA FERNS - $28,800 - MS. LORI BOHAN - $14,400
PART I, LINE 4B: MS. KATHLEEN GILES PARTICIPATES IN THE SCHOOL'S SECTION 457(B) NONQUALIFIED RETIREMENT PLANS AND ACCRUED BENEFITS OF $23,000 FOR CALENDAR YEAR 2024 WHICH WAS PROCESSED THROUGH PAYROLL IN JULY 2024. THE BENEFIT WILL NOT BE PAID UNTIL OCTOBER FOLLOWING THE END OF HER TERM. THE SCHOOL ALSO ACCRUED ANOTHER $23,500 AT THE END OF FISCAL YEAR 2025 FOR MS. KATHLEEN GILES. SHE ALSO PARTICIPATES IN THE SCHOOL'S SECTION 457(F) PLAN AND $100,000 PLUS EARNINGS OF $3,000 WERE VESTED AND PAID IN CALENDAR YEAR 2024. THESE AMOUNTS ARE REPORTED ON SCHEDULE J, PART II, COLUMN B(III). IN 2024, $23,000 FROM SECTION 457(B) PLAN AND $103,000 FROM SECTION 457(F) PLAN WERE VESTED AND TAXABLE FOR MS. KATHLEEN GILES AND THEY ARE REPORTED ON SCHEDULE J, PART II, COLUMN B(III). DURING THE FISCAL YEAR 2025, THE SCHOOL ACCRUED $100,000 PLUS $3,000 EARNINGS UNDER THE SECTION 457(F) PLAN FOR MS. KATHLEEN GILES.
PART I, LINE 7: THE RECTOR RECEIVED A BONUS THAT WAS BASED ON PERFORMANCES AND WAS DETERMINED AT THE DISCRETION OF THE COMPENSATION COMMITTEE.

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.

ST PAUL'S SCHOOL - E BURKE ROSS JR NEW JERSEY FINANCIAL AID FUND LLC

FINANCIAL AID FUND · NJ · income $464,137 · assets $6,235,946

Directly controlled by ST PAUL'S SCHOOL

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

CHARITABLE REMAINDER TRUST (5)

CHARITABLE TRUST · NH · controlled entity

Directly controlled by ST PAUL'S SCHOOL
POOLED INCOME FUND (1)

CHARITABLE TRUST · NH · controlled entity

Directly controlled by ST PAUL'S SCHOOL
PERPETUAL TRUST (1)

CHARITABLE TRUST · PA · controlled entity

Directly controlled by ST PAUL'S SCHOOL

Provenance

Return type: form_990
Tax year: 2024
Filed: 17 November 2025
IRS schema version: 2024v5.2
Source object: 202543219349312814

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