St Mary's Episcopal School

Nonprofit profile at a glance

EIN
620604637
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Memphis, TN, USA
Phone
9015371401
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Affiliation
Christianity

Official website

Reported finances

Revenue
$26,481,066
Expenses
$24,248,359
Assets
$77,395,772
Liabilities
$10,591,825

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

Leadership & pay

33 people listed

Highest reported compensation

  • ALBERT L THROCKMORTON (HEAD OF SCHOOL): $397,757 total reported compensation
  • LYNN ISAACS (CHIEF FINANCIAL OFFICER): $167,113 total reported compensation
  • HILARY ROBINSON (ASSOCIATE HEAD OF SCHOOL): $160,483 total reported compensation

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

Overview

Mission

The mission of st. Mary's episcopal school is to provide an unparalleled educational experience that challenges and supports each girl as she discovers her unique purpose and reaches her individual potential.

What it reported doing in 2024

To provide college preparatory education for girls from 2 years old to twelfth grade, regardless of socio-economic, ethnic, or religious background. The school emphasizes a classic, rigorous liberal arts curriculum. There were approximately 800 students enrolled for the current academic year.

Operating model

Revenue model
Earned-program. 87% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 87% 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 91
  • Accountability: 95
  • Sustainability: 66
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74%; rating input score 74
  • Program expense ratio: 80.8%; rating input score 81
  • Fundraising efficiency: $5.94 raised per $1 spent on fundraising; rating input score 24; 24th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.8%; rating input score 100; 37th 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 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: 8.4%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 3.19; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 5.3%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: 1.8% per year; rating input score 100; 18th percentile among comparable filings
  • Revenue growth: 4.1% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 2.9% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 74% of revenue deployed · 80.8% of spending went to programs
  • Governance: 22 of 22 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $19.6M in reported program spending
  • Leadership: top reported pay $398K · 33 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $2M reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 9 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: 10 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • 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 24/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.