Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $117,647

• 1f · All other contributions, gifts and grants

  $4,234,161

• 1g · Noncash contributions included above

  $132,536

• 2a · Program service revenue: TUITION AND FEES

  total $57,850,066 · related or exempt $57,850,066

• 2b · Program service revenue: INSTRUCTIONAL CAMPS

  total $3,005,038 · related or exempt $3,005,038

• 2c · Program service revenue: STUDENT SUPPORT

  total $1,287,979 · related or exempt $1,287,979

• 2d · Program service revenue: RIDING PROGRAM/HORSE SHOWS

  total $877,429 · related or exempt $845,032 · unrelated business $32,397

• 2e · Program service revenue: CAMPUS HOUSING

  total $648,217 · related or exempt $648,217

• 2f · All other program service revenue

  total $262,335 · related or exempt $262,335

• 3 · Investment income

  total $2,474,409 · unrelated business -$14,819 · excluded $2,489,228

• 5 · Royalties

  total $110,503 · excluded $110,503

• 6a · Gross rents

  real property $712,776

• 6b · Less rental expenses

  real property $352,673

• 6c · Rental income or loss

  real property $360,103

• 6d · Net rental income or loss

  total $360,103 · excluded $360,103

• 7a · Gross sales of assets other than inventory

  securities $256,533,384 · other assets $50,845

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

  securities $228,772,104 · other assets $0

• 7c · Gain or loss

  securities $27,761,280 · other assets $50,845

• 7d · Net gain or loss

  total $27,812,125 · excluded $27,812,125

• 8a · Fundraising events: gross income

  $35,876

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

  $117,647

• 8b · Fundraising events: direct expenses

  $86,166

• 8c · Net income from fundraising events

  total -$50,290 · excluded -$50,290

• 10a · Gross sales of inventory

  $456,130

• 10b · Cost of goods sold

  $245,189

• 10c · Net income from sales of inventory

  total $210,941 · excluded $210,941

• 11a · Other revenue: REBATE REVENUE

  total $51,883 · excluded $51,883

• 11b · Other revenue: OPERATIONS REBATE

  total $6,238 · excluded $6,238

• 11d · All other revenue

  total $47,321 · excluded $47,321

• 11e · Other revenue, total

  $105,442

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $7,936,825 · program services $7,936,825

• 5 · Compensation of officers, directors and key employees

  total $1,710,840 · management and general $1,221,545 · fundraising $489,295

• 7 · Other salaries and wages

  total $28,792,027 · program services $25,473,541 · management and general $2,232,014 · fundraising $1,086,472

• 8 · Pension plan contributions

  total $1,387,477 · program services $1,136,324 · management and general $187,280 · fundraising $63,873

• 9 · Other employee benefits

  total $8,621,759 · program services $6,908,247 · management and general $1,042,965 · fundraising $670,547

• 10 · Payroll taxes

  total $2,159,420 · program services $1,762,539 · management and general $291,032 · fundraising $105,849

• 11b · Fees: legal

  total $284,578 · program services $5,425 · management and general $279,153

• 11c · Fees: accounting

  total $149,509 · management and general $149,509

• 11e · Fees: professional fundraising services

  total $55,220 · fundraising $55,220

• 11f · Fees: investment management

  total $33,654 · management and general $33,654

• 11g · Fees: other

  total $188,532 · management and general $188,532

• 12 · Advertising and promotion

  total $108,607 · program services $41,059 · management and general $67,548

• 13 · Office expenses

  total $369,320 · program services $218,831 · management and general $104,728 · fundraising $45,761

• 14 · Information technology

  total $644,322 · program services $58,933 · management and general $585,389

• 16 · Occupancy

  total $4,292,670 · program services $3,457,198 · management and general $648,854 · fundraising $186,618

• 17 · Travel

  total $89,521 · program services $36,864 · management and general $42,506 · fundraising $10,151

• 20 · Interest

  total $726,581 · program services $580,794 · management and general $112,843 · fundraising $32,944

• 22 · Depreciation, depletion and amortization

  total $5,231,305 · program services $4,208,587 · management and general $791,612 · fundraising $231,106

• 23 · Insurance

  total $884,124 · program services $156,359 · management and general $727,765

• 24a · Other expenses: DINING MEALS

  total $2,195,233 · program services $1,751,405 · management and general $343,535 · fundraising $100,293

• 24b · Other expenses: ACADEMIC SUPPORT AND SU

  total $1,220,203 · program services $1,220,203

• 24c · Other expenses: HORSE SHOW AND EQUINE S

  total $785,279 · program services $781,560 · management and general $2,879 · fundraising $840

• 24d · Other expenses: UBIT TAX EXPENSE

  total $229 · management and general $229

• 24e · All other expenses

  total $3,649,633 · program services $2,455,921 · management and general $769,260 · fundraising $424,452

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,489,262 · end of year $4,622,550

• 2 · Savings and temporary cash investments

  beginning of year $33,175,461 · end of year $30,528,934

• 3 · Pledges and grants receivable

  beginning of year $5,944,991 · end of year $3,718,671

• 4 · Accounts receivable

  beginning of year $652,254 · end of year $454,427

• 7 · Other notes and loans receivable

  beginning of year $7,846 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $318,272 · end of year $328,465

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,190,555 · end of year $2,003,452

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

  $181,630,125

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

  $67,045,222

• 10c · Land, buildings and equipment, net

  beginning of year $111,811,946 · end of year $114,584,903

• 11 · Investments: publicly traded securities

  beginning of year $136,129,959 · end of year $23,859,891

• 12 · Investments: other securities

  beginning of year $12,981,269 · end of year $141,415,824

• 15 · Other assets

  beginning of year $8,221,473 · end of year $8,115,155

• 17 · Accounts payable and accrued expenses

  beginning of year $2,830,907 · end of year $3,325,033

• 19 · Deferred revenue

  beginning of year $22,859,029 · end of year $23,196,272

• 20 · Tax-exempt bond liabilities

  beginning of year $29,958,645 · end of year $26,916,204

• 25 · Other liabilities

  beginning of year $1,247,812 · end of year $792,247

• 27 · Net assets without donor restrictions

  beginning of year $144,626,310 · end of year $154,432,864

• 28 · Net assets with donor restrictions

  beginning of year $113,400,585 · end of year $120,969,652

The filer's explanations (Part III)

PART I, LINE 1A

AS A CONDITION OF EMPLOYMENT, THE FOLLOWING MCDONOGH EMPLOYEES ARE PROVIDED HOUSING FOR THE CONVENIENCE AND BENEFIT OF THE SCHOOL. DAVID J. FARACE, HEAD OF SCHOOL, KATHRYN MUELLER, ASSOCIATE HEAD OF SCHOOL AND MERRITT LIVERMORE, HEAD OF UPPER SCHOOL. THE VALUE OF THE NONTAXABLE HOUSING IS INCLUDED IN NONTAXABLE BENEFITS. AS A NONTAXABLE FRINGE BENEFIT, MEMBERSHIP FEES WERE PAID FOR DAVID J. FARACE, THE HEAD OF SCHOOL, IN THE AMOUNT OF $14,384.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• FOLIO NETWORK LLC

  SCHOOL PERFORMANCE APPRAISAL SOFTWARE · MD · income $110,503 · assets $1,754,538

  Directly controlled by MCDONOGH SCHOOL INCORPORATED

Related corporations and trusts

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

• CHARITABLE REMAINDER UNITRUST (9)

  T · CHARITABLE REMAINDER UNITRUST · MD