Milton Academy
Milton Academy reported $104.3 million in revenue and $107.0 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $72.66 went to program services, $23.25 to management and general costs and $4.09 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 70.5% of the total. The highest compensation it reported for one person was $813,811 (HEAD OF SCHOOL). 114 people received more than $100,000 in reportable compensation. Revenue fell 1% 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 $107MFor 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 $104MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 72.7% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 23.3% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 4.1% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.33 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 12.6% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 70.5% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $813,811 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.76% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 114 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 53.8 | 13.3 |
| Independent voting board members Part VI 1a–1b | 25 of 26 | 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 expenseMilton Academy promotes an environment of lifelong learning to 1014 students in grades k-12. Students are encouraged to participate in community service and volunteer opportunities during the year in an effort to instill a passion for giving back to others for many years. Full and partial scholarships are awarded to students based on financial need. In 2025, Milton Academy awarded financial aid to 33.3% of our students
The mountain school of Milton Academy is an independent semester program that provides high school juniors the opportunity to live and work on an organic farm in rural vermont. In academic year 2024-2025, the mountain school enrolled an average of 38 high-achieving students per semester from all over the country. Courses provide a demanding, integrated learning experience that takes full advantage of the school's small size and mountain campus. Students come from different backgrounds and schools around the country, and are challenged to work together and learn from each other, as they…
Milton Academy provides a saturday course to gifted students, rental of facilities, health services, school buses, an outdoor program, after school activities, and yearbook program
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 |
|---|---|---|---|---|
| HEAD OF SCHOOL Director/trustee, officer, 60.00 hrs/week | $548,407 | $0 | $265,404 | $813,811 |
| CHIEF ADVANCEMENT OFFICER Key employee, 50.00 hrs/week | $300,610 | $0 | $97,440 | $398,050 |
| CHIEF FINANCIAL & OPERATING OFFICER Officer, 50.00 hrs/week | $313,133 | $0 | $67,248 | $380,381 |
| DEAN OF ENROLLMENT & FINANCIAL AID Highest compensated employee, 50.00 hrs/week | $194,154 | $0 | $101,020 | $295,174 |
| PRINCIPAL, UPPER SCHOOL Key employee, 50.00 hrs/week | $226,720 | $0 | $62,384 | $289,104 |
| DIRECTOR OF DEVELOPMENT Highest compensated employee, 50.00 hrs/week | $222,616 | $0 | $59,762 | $282,378 |
| CHIEF COMMUNICATION OFFICER Highest compensated employee, 50.00 hrs/week | $198,034 | $0 | $30,089 | $228,123 |
| CHIEF LEGAL COUNSEL Highest compensated employee, 50.00 hrs/week | $210,943 | $0 | $14,599 | $225,542 |
114 people received more than $100,000 in reportable compensation from Milton Academy (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.6M (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–1b26 · 25 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 5710
- Volunteers Part I, line 6266
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| ARAMARK SERVICES INC Food services | $4,886,982 |
| PARTNERS CAPITAL INVESTMENT GROUP LLC Investment consultants | $1,352,397 |
| LOCAL MOTION OF BOSTON INC Bus service | $1,085,483 |
| CM CLEANING COMPANY INC Cleaning contractor | $953,649 |
| GDI SERVICES INC Cleaning contractor | $514,204 |
Individuals listed as contractors are left out. 21 contractors were paid more than $100,000 in all.
Private foundation grants it received
72 private foundations reported grants to Milton Academy totaling $1.8M 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 Milton Academy's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Milton Academy, you can publish a response that is linked from this page.
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Of every $100 Milton Academy spent in FY2025, $72.66 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Bay Path UniversityLongmeadow, MA · revenue $104M · programs 77.2% · FY2025
- Aaa Scholarship FoundationTampa, FL · revenue $104M · programs 98.5% · FY2025
- Iu Medical Group FoundationIndianapolis, IN · revenue $104M · programs 99.3% · FY2025
- Seton Hill UniversityGreensburg, PA · revenue $105M · programs 96.3% · FY2025
- Knox CollegeGalesburg, IL · revenue $104M · programs 83.5% · FY2025
All education charities · Largest charities in Massachusetts
Questions people ask
How much of Milton Academy's spending goes to programs?
In the fiscal year ending June 30, 2025, Milton Academy reported that 72.7% of its $107.0 million in expenses went to program services, 23.3% to management and general and 4.1% to fundraising (Form 990, Part IX).
How much does Milton Academy pay its top executive?
The largest total compensation Milton Academy reported for one person in the fiscal year ending June 30, 2025 was $813,811, for the role of HEAD OF SCHOOL (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Milton Academy get its money?
Of $104.3 million in revenue in the fiscal year ending June 30, 2025, 12.6% came from contributions and grants and 70.5% from program service revenue (Form 990, Part VIII).
Is Milton Academy a registered charity?
The IRS lists EIN 04-2103603 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 202641349349312114 · read the filing
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202541349349308274 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202431359349311523 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202311349349300556 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202241369349306624 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202111349349306766 · read the filing
All filings for EIN 04-2103603: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.