Saint Marys School

Nonprofit profile at a glance

EIN
560532314
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Raleigh, NC, USA
Phone
9194244128
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community or Junior Colleges

Reported finances

Revenue
$25,163,210
Expenses
$21,585,150
Assets
$95,583,045
Liabilities
$8,461,983

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

Leadership & pay

29 people listed

Highest reported compensation

  • Adam Holden (Head of School): $430,198 total reported compensation
  • Matthew Olesnevich (Assistant Head for Student Affairs): $223,024 total reported compensation
  • Patricia Sasser (Assistant Head for Academic Affairs): $203,240 total reported compensation

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

Overview

Mission

Saint Marys School in Raleigh NC is an independent college-preparatory girls boarding and day school dedicated to academic excellence and personal achievement for grades 9 - 12.

What it reported doing in 2024

Educational activities provide support for around 300 students including a boarding program for students and faculty who opt for it alongside additional services to enhance academic success.

Operating model

Revenue model
Other-operating. 62% of the money available for current operations came from other operating revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 78% for direct work, and 22% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - 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: 61
  • Transparency & Controls: 68
  • Accountability: 100
  • Sustainability: 73
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.2%; rating input score 63
  • Program expense ratio: 69.7%; rating input score 70
  • Fundraising efficiency: $6.74 raised per $1 spent on fundraising; rating input score 28; 28th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 17th 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: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Fail
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • 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: 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: 14.2%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 4.43; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 76; 76th percentile among comparable filings
  • Officer compensation ratio: 6.6%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 4.9% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: 6% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 4.8% per year; rating input score 100; 34th percentile among comparable filings

Details

  • Where the money goes: 63.2% of revenue deployed · 69.7% of spending went to programs
  • Governance: 22 of 22 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $15M in reported program spending
  • Leadership: top reported pay $430K · 29 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $10.7M reported
  • Consistency: 47 of 48 current checks pass · 1 finding to review
  • Schedules: 10 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
  • 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 — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 28/100.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.
  • Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.