Episcopal Academy
Nonprofit profile at a glance
- EIN
- 231370500
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Newtown Square, PA, USA
- Phone
- 4844241420
- Rating
- 73
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Elementary, Secondary Education, K - 12
- Affiliation
- Christianity
Reported finances
- Revenue
- $81,052,215
- Expenses
- $63,768,580
- Assets
- $341,536,376
- Liabilities
- $23,286,161
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
31 people listed
Highest reported compensation
- DR THOMAS J LOCKE (HEAD OF SCHOOL): $1,069,237 total reported compensation
- lawrence capuzzi (chief financial officer): $381,279 total reported compensation
- christopher torino (assistant head of school): $372,285 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Challenging and nurturing mind, body, and spirit, we inspire boys and girls to lead lives of purpose, faith, and integrity.
What it reported doing in 2024
The episcopal academy is an independent, co-educational day school located in newtown square, Pennsylvania. Its curriculum is college preparatory and includes grades pre-kindergarten through twelve. The enrollment at the academy is approximately 1,279 students. The school participates in community service work that exemplifies the school's mission. The episcopal academy greatly values diversity of all kinds, including racial and economic. To help achieve this diversity, approximately $9.66 million of need-based financial aid is granted to families each year in order to make it possible for children to attend the school. Approximately 24% of the student population is awarded financial aid. On average, this award is approximately 88% of the average tuition.
Operating model
- Revenue model
- Earned-program. 67% 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 77% for direct work, and 23% for grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and the filing reports few safeguards for money sent abroad.
Rating breakdown
- Financial Efficiency: 57
- Transparency & Controls: 70
- Accountability: 100
- Sustainability: 79
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 54.8%; rating input score 55
- Program expense ratio: 72.1%; rating input score 72
- Fundraising efficiency: $4.98 raised per $1 spent on fundraising; rating input score 21; 21st 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: Missing
- 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: 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: 100%; rating input score 100; 77th 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: 21.3%; rating input score 88; 88th percentile among comparable filings
- Total-asset coverage ratio: 5.36; rating input score 86; 86th percentile among comparable filings
- Liabilities to assets ratio: 0.07; rating input score 87; 87th percentile among comparable filings
- Officer compensation ratio: 4.5%; rating input score 21; 21st percentile among comparable filings
Growth
- Program expense growth: 2.5% per year; rating input score 100; 18th percentile among comparable filings
- Revenue growth: 4.6% per year; rating input score 100; 39th percentile among comparable filings
- Asset growth: 1.9% per year; rating input score 100; 14th percentile among comparable filings
Details
- Where the money goes: 54.8% of revenue deployed · 72.1% of spending went to programs
- Governance: 24 of 24 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $46M in reported program spending
- Leadership: top reported pay $1.1M · 31 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $4.8M reported
- Consistency: 38 of 38 current checks pass
- Schedules: 12 filed schedules · includes major donors, foreign activity, 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.
- Review — Financial Efficiency: Mission deployment rate scored 55/100.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- High — Financial Efficiency: Fundraising efficiency scored 21/100.
- High — Sustainability: Officer compensation ratio scored 21/100.