The Fay School Inc

What it reported doing in 2024

Instruction and education: formal education of 499 students' grades k-9 in co-ed day & boarding setting. As a day and boarding school for students in kindergarten through grade nine and an early learning center from ages 2.9 to 5, fay school is a community built on five core values: academic excellence; honorable conduct; dedicated service; earnest effort; and wellness of mind, body, and spirit. While the school has grown and evolved since its founding in 1866, our central purpose has remained constant. Fay provides a broad and challenging program that empowers students to discover their talents, develop their intellectual abilities, establish essential academic skills and knowledge, and define their moral character. Earnest effort has been emphasized through the school's history, as enshrined in our motto, poteris modo velis ("you can if you will"). Fay is dedicated to educating children to their full potential in the early childhood, elementary, and middle school years by helping them recognize and develop their intellectual aesthetic, physical, social, and emotional capabilities. We teach our students essential, enduring skills: to read well, to write and speak clearly and coherently, to reason soundly, to question thoughtfully, and to study effectively. These skills support their ability to lead, to collaborate, to create, and to solve problems.love of learning brings us together, and we encourage our students to be curious, creative, and open to new ideas. Fay's safe and supportive environment allows students to take risks and encourages them to learn from mistakes, within the context of high expectations regarding academic performance and ethical conduct. Our teachers know their students as individuals and help them come to know themselves. As fay students grow, they develop an understanding an acceptance of their own challenges and strengths as learners.honesty, respect, responsibility, empathy, and kindness inform our conduct. The development of manners, civility, and integrity are hallmarks of our school. At every grade level, we emphasize an obligation to help ensure the well-being of others. As a home for boarding students from many cultures and background throughout the united states and around the world, fay is an inclusive community that recognizes, respects, and celebrates the full range of human diversity. In all of these ways, fay prepares our students to lead productive and fulfilling lives that make a positive difference in the world.

Financial Efficiency

• Mission deployment rate: 86.5%; rating input score 86
• Program expense ratio: 81.4%; rating input score 81
• Fundraising efficiency: $5.48 raised per $1 spent on fundraising; rating input score 22; 22nd 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: Pass
  • 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; 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: 7 of 8 controls in place; rating input score 88
  • 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: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 0.9%; rating input score 37; 37th percentile among comparable filings
• Total-asset coverage ratio: 3.45; rating input score 78; 78th percentile among comparable filings
• Liabilities to assets ratio: 0.48; rating input score 30; 30th percentile among comparable filings
• Officer compensation ratio: 8.3%; rating input score 28; 28th percentile among comparable filings

Growth

• Program expense growth: 3.3% per year; rating input score 100; 28th percentile among comparable filings
• Revenue growth: 4.6% per year; rating input score 100; 41st percentile among comparable filings
• Asset growth: 1.3% per year; rating input score 100; 15th percentile among comparable filings