Bancroft School
Nonprofit profile at a glance
- EIN
- 042103861
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Worcester, MA, USA
- Phone
- 5088532640
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Secondary, High School
Reported finances
- Revenue
- $18,003,190
- Expenses
- $20,982,469
- Assets
- $30,153,809
- Liabilities
- $11,942,441
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
28 people listed
Executive titles in this filing
- KHURSTON ELLIA-EPPLE (VICE PRESIDENT)
- MARTIN RICHMAN (PRESIDENT)
- JENNIFER VUONA (PFA PRESIDENT)
- PADGETT BERTHIAUME (FIRST VICE PRESIDENT)
- JOSEPHINE HERRON TRUESDELL (ALUMNI COUNCIL PRESIDENT)
Highest reported compensation
- STEPHANIE LEUBBERS (HEAD OF SCHOOL): $308,695 total reported compensation
- SCOTT POTTBECKER (DIRECTOR OF OPERATIONS AND): $166,212 total reported compensation
- JACOB DIBBERT (ASSISTANT HEAD OF SCH): $158,104 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Bancroft, an independent, coeducational, college-preparatory day school, prepares talented, well-qualified and motivated college-bound students, pre-kindergarten through grade 12, to pursue and realize their academic, personal and social potential.
What it reported doing in 2024
Bancroft provides a comprehensive, caring, and creative curricular and extracurricular program that fosters an experience of excellence for each student. Inspired students, a superior faculty, and engaged families thrive in our diverse, safe, and supportive community. We afford students the opportunity to discover their passion in life and to learn to embrace confidently and responsibly the moral and ethical challenges of being life-long learners, teachers of others, and citizens of an increasingly complex global community. Approximately 400 students attend bancroft.
Operating model
- Revenue model
- Earned-program. 93% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 71% for direct work, and 29% for grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 76
- Transparency & Controls: 87
- Accountability: 100
- Sustainability: 27
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 87.2%; rating input score 87
- Program expense ratio: 75.4%; rating input score 75
- Fundraising efficiency: $6.03 raised per $1 spent on fundraising; rating input score 25; 25th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 8 of 8 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- 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: -16.5%; rating input score 6; 6th percentile among comparable filings
- Total-asset coverage ratio: 1.44; rating input score 49; 49th percentile among comparable filings
- Liabilities to assets ratio: 0.4; rating input score 37; 37th percentile among comparable filings
- Officer compensation ratio: 5.6%; rating input score 46; 46th percentile among comparable filings
Growth
- Program expense growth: 2.8% per year; rating input score 100; 24th percentile among comparable filings
- Revenue growth: 1.4% per year; rating input score 100; 14th percentile among comparable filings
- Asset growth: -0.5% per year; rating input score 0; 9th percentile among comparable filings
Details
- Where the money goes: 87.2% of revenue deployed · 75.4% of spending went to programs
- Governance: 21 of 21 board members independent · 8 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $15.8M in reported program spending
- Leadership: top reported pay $309K · 28 people listed · 4 of 6 pay-setting controls reported
- Consistency: 34 of 34 current checks pass
- Schedules: 8 filed schedules · includes major donors, grants, and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 7 filed money-flow records
- 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Fundraising efficiency scored 25/100.
- High — Sustainability: Operating margin scored 6/100.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 37/100.
- Moderate — Sustainability: Officer compensation ratio scored 46/100.