Carlthorp School

Nonprofit profile at a glance

EIN
953512203
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Santa Monica, CA, USA
Phone
3104511332
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Primary, Elementary Schools

Official website

Reported finances

Revenue
$16,552,001
Expenses
$16,795,851
Assets
$64,200,964
Liabilities
$9,961,085

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

22 people listed

Highest reported compensation

  • NOLA RAE CRONAN (HEAD OF SCHOOL): $538,233 total reported compensation
  • KENNETH PARR (DIR. OF FINANCE/SEC./TREAS.): $376,470 total reported compensation
  • STEVEN SPRINGER (ASSC HEAD OF SCHOOL (LEFT JUNE 2025)): $364,085 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Carlthorp school is an independent, nonprofit day school for children in grades k-6. Carlthorp school provides a strong academic foundation in a diverse and nurturing school community that emphasizes traditional values, disciplined work habits, and excellence in order to prepare our students to achieve their highest potential in education and life.carlthorp school, established in 1939, is the oldest independent school in santa monica. Though the breadth of our curriculum has radically expanded in the last 86 years, our basic philosophy remains the same. We focus on the child as a whole, helping the child to grow academically, socially, and ethically - all within the framework of a traditionally academic school. The school's traditional approach to education, coupled with positive reinforcement in a caring wholesome environment prepares children to excel in today's competitive society.

What it reported doing in 2024

Carlthorp school is accredited by the national association of independent schools, the California association of independent schools and the western association of schools and colleges. Carlthorp school received the "no child left behind" national blue ribbon of excellence award. 100% of carlthorp school's 2025 graduating class attend the secondary school of their first choice.the school is traditionally and academically oriented. The curriculum is well-rounded and a solid academic foundation in math, reading, and english is stressed. Teachers utilize diverse teaching modalities and strategies. With two classes at each grade level of 20 students in each class, each student from kindergarten through sixth grade received individual attention. Thoroughness, accuracy and responsibility are stressed in all schoolwork, and special attention is given to necessary preparation for entrance to public and private secondary schools. During the 2024-25 school year, the school served approximately 280 students.

Operating model

Revenue model
Earned-program. 72% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 93% 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.

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: 75
  • Transparency & Controls: 87
  • Accountability: 92
  • Sustainability: 44
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.4%; rating input score 83
  • Program expense ratio: 81%; rating input score 81
  • Fundraising efficiency: $3.93 raised per $1 spent on fundraising; rating input score 15; 15th 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: Pass
    • Written employment contract: Missing
    • 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: 93.8%; rating input score 94; 27th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.5%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 3.82; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.16; rating input score 65; 65th percentile among comparable filings
  • Officer compensation ratio: 12.4%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: 5.9% per year; rating input score 100; 48th percentile among comparable filings
  • Revenue growth: 5.8% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 83.4% of revenue deployed · 81% of spending went to programs
  • Governance: 15 of 16 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $13.6M in reported program spending
  • Leadership: top reported pay $538K · 22 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 36 of 36 current checks pass
  • Schedules: 11 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: 8 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 15/100.
  • High — Sustainability: Operating margin scored 25/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Officer compensation ratio scored 13/100.