The Fay School
The Fay School reported $38.9 million in revenue and $38.6 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $81.44 went to program services, $16.33 to management and general costs and $2.23 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 77.9% of the total. The highest compensation it reported for one person was $864,518 (FORMER HEAD OF SCHOOL). 25 people received more than $100,000 in reportable compensation. Revenue rose 39% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $39MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $39MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 81.4% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 16.3% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 2.2% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.18 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 12.1% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 77.9% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $864,518 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 2.24% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 25 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 21.5 | 13.3 |
| Independent voting board members Part VI 1a–1b | 21 of 21 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseInstruction 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…
Summer programs include summer day camp, an international student boarding english language program. Summer camp is a dynamic, hands-on program, for children ages three through fifteen. Our program provides campers and students with an engaging and nurturing atmosphere that encourages exploration, creativity, and lasting connections among children and adults.the international student boarding english language program makes it possible for international students aged 10-15 to participate in the fay experience regardless of their level of english proficiency. It provides a meaningful…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| FORMER HEAD OF SCHOOL Former, 37.50 hrs/week | $768,661 | $0 | $95,857 | $864,518 |
| ASSOCIATE HEAD OF SCHOOL Highest compensated employee, 37.50 hrs/week | $309,029 | $0 | $113,436 | $422,465 |
| ASST. HEAD OF SCHOOL FOR OPERATIONS Officer, 37.50 hrs/week | $334,053 | $0 | $63,440 | $397,493 |
| HEAD OF SCHOOL Officer, 37.50 hrs/week | $251,119 | $0 | $97,931 | $349,050 |
| DIRECTOR OF ADVANCEMENT Highest compensated employee, 37.50 hrs/week | $244,004 | $0 | $103,671 | $347,675 |
| ASSTISTANT HEAD OF SCHOOL FOR THE EDUCATIONAL PROG Highest compensated employee, 37.50 hrs/week | $265,343 | $0 | $31,112 | $296,455 |
| HEAD OF UPPER SCHOOL Highest compensated employee, 37.50 hrs/week | $173,730 | $0 | $86,511 | $260,241 |
| DIRECTOR OF INNOVATION Highest compensated employee, 37.50 hrs/week | $231,906 | $0 | $16,810 | $248,716 |
25 people received more than $100,000 in reportable compensation from The Fay School (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.0M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b21 · 21 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aNo
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 5317
- Volunteers Part I, line 6100
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| SAGE DINING SERVICES INC Dining | $1,762,201 |
| UNICLEAN SERVICE CORPORATION - AKA HOGLA Janitorial | $608,039 |
| ECK MACNEELY ARCHITECTS INC Architecture | $392,422 |
| APPLIED ROOFING SYSTEMS INC Construction | $391,042 |
| GOVCONNECTION INC - DBA CONNECTION It equipment | $359,620 |
Individuals listed as contractors are left out. 19 contractors were paid more than $100,000 in all.
Private foundation grants it received
15 private foundations reported grants to The Fay School totaling $77,181 on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from The Fay School's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The Fay School, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 The Fay School spent in FY2025, $81.44 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Naropa UniversityBoulder, CO · revenue $39M · programs 76.2% · FY2025
- Shorecrest Preparatory SchoolSt Petersburg, FL · revenue $39M · programs 85.4% · FY2025
- American Dental Education AssociationWashington, DC · revenue $39M · programs 73.9% · FY2025
- Mariana Bracetti Academy Charter SchoolPhiladelphia, PA · revenue $39M · programs 79.1% · FY2025
- Youngstown State University FoundationYoungstown, OH · revenue $39M · programs 89.8% · FY2025
All education charities · Largest charities in Massachusetts
Questions people ask
How much of The Fay School's spending goes to programs?
In the fiscal year ending June 30, 2025, The Fay School reported that 81.4% of its $38.6 million in expenses went to program services, 16.3% to management and general and 2.2% to fundraising (Form 990, Part IX).
How much does The Fay School pay its top executive?
The largest total compensation The Fay School reported for one person in the fiscal year ending June 30, 2025 was $864,518, for the role of FORMER HEAD OF SCHOOL (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Fay School get its money?
Of $38.9 million in revenue in the fiscal year ending June 30, 2025, 12.1% came from contributions and grants and 77.9% from program service revenue (Form 990, Part VIII).
Is The Fay School a registered charity?
The IRS lists EIN 04-2103573 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202611219349301601 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202511269349303716 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202401289349302130 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202301319349300215 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202201309349304005 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020 (amended), object 202112709349300721 · read the filing
All filings for EIN 04-2103573: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.