Carolina Day School
Carolina Day School reported $26.8 million in revenue and $23.8 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $84.46 went to program services, $12.33 to management and general costs and $3.21 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 79.2% of the total. The highest compensation it reported for one person was $556,083 (HEAD OF SCHOOL). 10 people received more than $100,000 in reportable compensation. Revenue rose 41% 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 $24MFor 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 $27MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 84.5% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 12.3% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 3.2% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.17 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 17.1% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 79.2% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $556,083 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 2.34% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 10 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 16.5 | 13.3 |
| Independent voting board members Part VI 1a–1b | 17 of 18 | 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 expenseCarolina Day School is a model of academic excellence, a leader in curricular innovation, and is an accredited, co-educational, secular, independent Day School. In the 2024-25 school year, 598 students enrolled in pre-kindergarten through grade 12. Carolina Day School delivers a rich, differentiated, personally rigorous, whole-child academic experience that fosters accelerated learning, and provides supports when necessary to academically capable, motivated and inquisitive students. Experiential, deep learning is hallmark to the program. Exceptional faculty deeply know their students, who…
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 Officer, 50.0 hrs/week | $513,429 | $0 | $42,654 | $556,083 |
| DIR. OF ADVANCEMENT Highest compensated employee, 40.0 hrs/week | $181,257 | $0 | $24,490 | $205,747 |
| ATHLETICS DIRECTOR Highest compensated employee, 40.0 hrs/week | $143,366 | $0 | $26,646 | $170,012 |
| PRE-K - 8 PRINCIPAL Highest compensated employee, 40.0 hrs/week | $143,747 | $0 | $22,491 | $166,238 |
| FORMER HEAD OF SCHOOL Former, 50.0 hrs/week | $162,500 | $0 | $0 | $162,500 |
| KEY SCHOOL PRINCIPAL Highest compensated employee, 40.0 hrs/week | $135,190 | $0 | $18,121 | $153,311 |
| DIRECTOR OF OPERATIONS Highest compensated employee, 40.0 hrs/week | $115,935 | $0 | $10,516 | $126,451 |
10 people received more than $100,000 in reportable compensation from Carolina Day School (Part VII, line 2). Compensation of current officers, directors and key employees totaled $513K (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–1b18 · 17 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 11aYes
- 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 14bNo
- Employees Part I, line 5274
- Volunteers Part I, line 6400
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| GEOSURFACES SOUTHEAST INC Turf installation | $674,500 |
| LEGERTON ARCHITECTURE Architects | $536,763 |
| ELECTRONIC OFFICE Managed it services | $307,434 |
| YOUNG OFFICE Furniture installation | $249,456 |
Individuals listed as contractors are left out. 12 contractors were paid more than $100,000 in all.
Private foundation grants it received
14 private foundations reported grants to Carolina Day School totaling $233K 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 Carolina Day 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 Carolina Day School, you can publish a response that is linked from this page.
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Of every $100 Carolina Day School spent in FY2025, $84.46 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Securing Assets for EducationMoncks Corner, SC · revenue $27M · programs 100.0% · FY2025
- Eagle Hill Foundation of MassachusettsincHardwick, MA · revenue $27M · programs 88.6% · FY2025
- Michigan Tech FundHoughton, MI · revenue $27M · programs 95.1% · FY2025
- Walnut Hill Center for the ArtsNatick, MA · revenue $27M · programs 77.5% · FY2025
- Berwick AcademySouth Berwick, ME · revenue $27M · programs 84.7% · FY2025
All education charities · Largest charities in North Carolina
Questions people ask
How much of Carolina Day School's spending goes to programs?
In the fiscal year ending June 30, 2025, Carolina Day School reported that 84.5% of its $23.8 million in expenses went to program services, 12.3% to management and general and 3.2% to fundraising (Form 990, Part IX).
How much does Carolina Day School pay its top executive?
The largest total compensation Carolina Day School reported for one person in the fiscal year ending June 30, 2025 was $556,083, for the role of HEAD OF SCHOOL (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Carolina Day School get its money?
Of $26.8 million in revenue in the fiscal year ending June 30, 2025, 17.1% came from contributions and grants and 79.2% from program service revenue (Form 990, Part VIII).
Is Carolina Day School a registered charity?
The IRS lists EIN 56-0125490 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 202621289349302892 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202541329349301359 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202421299349302677 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202331309349303733 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202221309349302832 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202121239349301102 · read the filing
All filings for EIN 56-0125490: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.