Latin School of Chicago
Legal name: The Latin School of Chicago
Nonprofit profile at a glance
- EIN
- 362258525
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Chicago, Illinois, USA
- Phone
- 312.582.6000
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Elementary, Secondary Education, K - 12
Reported finances
- Revenue
- $61,074,655
- Expenses
- $61,733,605
- Assets
- $163,412,829
- Liabilities
- $39,468,702
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
43 people listed
Highest reported compensation
- THOMAS HAGERMAN (HEAD OF SCHOOL): $741,098 total reported compensation
- MICHAEL SZCZEPANEK (CFO - THRU 02/2025): $445,987 total reported compensation
- RYAN ALLEN (ASSISTANT HEAD OF SCHOOL): $399,873 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Latin School of Chicago provides its students with a rigorous and innovative educational program in a community that embraces diversity of people, cultures, and ideas. Latin inspires its students to pursue their passions and lead lives of purpose and excellence.
What it reported doing in 2024
Instruction and student support activities-founded in 1888, the latin school of chicago is an independent coeducational day school for grades junior kindergarten-12. The students: a diverse community of 1,190 students in junior kindergarten-12 from chicago and the surrounding suburbs.the faculty: caring, experienced professionals, over 86% of whom have earned a master's degree or higher. The student faculty ratio is 8:1.academics: latin offers a rigorous college preparatory curriculum that encourages independence, creativity and (continued on schedule o) curiosity with an emphasis on interdisciplinary learning.financial aid: the school assists students who otherwise may not be financially able to attend school. Approximately 12.5% of the student body receives financial aid.
Operating model
- Revenue model
- Other-operating. 90% of the money available for current operations came from other operating revenue.
- Distribution model
- Direct operator. The filing allocates 90% 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
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: 76
- Transparency & Controls: 73
- Accountability: 100
- Sustainability: 41
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 85%; rating input score 85
- Program expense ratio: 82.9%; rating input score 83
- Fundraising efficiency: $3.45 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- 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: -1.1%; rating input score 22; 22nd percentile among comparable filings
- Total-asset coverage ratio: 2.65; rating input score 72; 72nd percentile among comparable filings
- Liabilities to assets ratio: 0.24; rating input score 63; 63rd percentile among comparable filings
- Officer compensation ratio: 4.5%; rating input score 20; 20th percentile among comparable filings
Growth
- Program expense growth: 3.3% per year; rating input score 100; 25th percentile among comparable filings
- Revenue growth: 2.5% per year; rating input score 100; 17th percentile among comparable filings
- Asset growth: 3.8% per year; rating input score 100; 26th percentile among comparable filings
Details
- What they do: 4 programs and campaigns described on the official site
- Where the money goes: 85% of revenue deployed · 82.9% of spending went to programs
- Governance: 35 of 35 board members independent · 9 of 9 filing controls reported
- Programs: 2 filed program accomplishments · $51.2M in reported program spending
- Leadership: top reported pay $741K · 43 people listed · 4 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $5M reported
- Consistency: 39 of 39 current checks pass
- Schedules: 12 filed schedules · includes major donors, foreign activity, grants, and executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 8 filed money-flow records
- Related organizations: 4 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 — Transparency & Controls: Foreign activity oversight scored 0/100.
- High — Financial Efficiency: Fundraising efficiency scored 13/100.
- High — Sustainability: Operating margin scored 22/100.
- High — Sustainability: Officer compensation ratio scored 20/100.