Choate Rosemary Hall Foundation Incorporated

Overview

Mission

To provide a quality secondary independent school education to approximately 850 students per year.

What it reported doing in 2024

The school discounts tuition in the form of financial aid at an approximate rate of 27.09% in an effort to recruit and retain the most talented student body. The school recognizes that a diverse student body betters the overall experience for all involved, and that while not everyone can contribute financially in terms of tuition, everyone has something to offer the choate rosemary hall community.

Operating model

Revenue model
Other-operating. 65% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 83% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
060910420
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Headquarters
Wallingford, CT, USA
Phone
2036972676
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Secondary, High School

Official website

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 70
  • Accountability: 97
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.6%; rating input score 92
  • Program expense ratio: 86.3%; rating input score 86
  • Fundraising efficiency: $5.59 raised per $1 spent on fundraising; rating input score 24; 24th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95.2%; rating input score 95; 46th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5.9%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 8.8; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 3%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 3.2% per year; rating input score 100; 24th percentile among comparable filings
  • Revenue growth: 2.5% per year; rating input score 100; 18th percentile among comparable filings
  • Asset growth: 5% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 91.6% of revenue deployed · 86.3% of spending went to programs
  • Governance: 20 of 21 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $90.8M in reported program spending
  • Leadership: top reported pay $1.1M · 27 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $25.8M reported
  • Consistency: 41 of 41 current checks pass
  • Schedules: 12 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 16 annual filings from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

27 people listed

Highest reported compensation

  • ALEXANDER D CURTIS (HEAD OF SCHOOL): $1,078,000 total reported compensation
  • PATRICK T DURBIN (CHIEF FINANCIAL OFFICER): $452,211 total reported compensation
  • ANNE BERGEN (CHIEF DEVELOPMENT OFFICER): $417,130 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.