The Thacher School
The Thacher School reported $60.8 million in revenue and $59.4 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $48.58 went to program services, $45.06 to management and general costs and $6.36 to fundraising. Its largest source of revenue was contributions and grants: 41.2% of the total. The highest compensation it reported for one person was $632,141 (HOS). 34 people received more than $100,000 in reportable compensation. Revenue rose 52% 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 $59MFor 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 $61M- Contributions & grants (non-government)$41.11 $25M
- Program service revenue$32.67 $20M
- Investment income$26.22 $16M
Other revenue was negative: −$69,988. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 48.6% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 45.1% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 6.4% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.15 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 41.2% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 32.7% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $632,141 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.06% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 34 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 58.2 | 13.3 |
| Independent voting board members Part VI 1a–1b | 24 of 25 | 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 expenseRegular Education Program: The philosophy of The Thacher School is rooted in the wisdom and work of its founder, Sherman Day Thacher, who embraced the extraordinary natural venue of his school and sought above all else to train his students in the art of living for their own greatest good and for the good of their fellow citizens. He believed the most worthwhile education combined a vigorous academic life with rugged outdoor activities that engendered self-reliance, concern for others, and fidelity to four principles: honor, fairness, kindness, and truth. The Thacher School recently unveiled…
Sierra Wilderness Program: Golden Trout Camp is an integral part of the wilderness and leadership training at Thacher. The program provides educational experience in health, wellness and wilderness training for disadvantaged youth during the summer months. Additionally, GTC offers an educational experience for alumni and friends of The Thacher School. GTC is a throwback to an earlier time in the Sierra when hunting and fishing camps were common in the high country. Located at 10,200 feet, just south of one of the highest peaks in California, the camp offers access to one of the world's…
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 |
|---|---|---|---|---|
| HOS Officer, 60.00 hrs/week | $476,723 | $0 | $155,418 | $632,141 |
| Director of Advancement Listed in Part VII, 40.00 hrs/week | $436,330 | $0 | $144,088 | $580,418 |
| DFO/Assist Trea Officer, 60.00 hrs/week | $326,851 | $0 | $80,023 | $406,874 |
| Dir of Develop Listed in Part VII, 40.00 hrs/week | $237,615 | $0 | $154,442 | $392,057 |
| Director of Admissions Listed in Part VII, 40.00 hrs/week | $247,547 | $0 | $74,668 | $322,215 |
| Dir People Oper Listed in Part VII, 40.00 hrs/week | $277,355 | $0 | $31,454 | $308,809 |
| Dir of Facilities Listed in Part VII, 40.00 hrs/week | $235,205 | $0 | $67,449 | $302,654 |
| Assist HOS Listed in Part VII, 40.00 hrs/week | $202,136 | $0 | $75,285 | $277,421 |
34 people received more than $100,000 in reportable compensation from The Thacher School (Part VII, line 2). Compensation of current officers, directors and key employees totaled $2.3M (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–1b25 · 24 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 2Yes
- 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 5231
- Volunteers Part I, line 6150
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| Bon Appetit Food Service | $2,444,230 |
| Munger Tolles & Olson LLP Professional services | $1,024,033 |
| Palmaro Builders Contractor | $461,831 |
| Nye Sterling Hale & Miller Legal Services | $367,302 |
Individuals listed as contractors are left out. 20 contractors were paid more than $100,000 in all.
Private foundation grants it received
42 private foundations reported grants to The Thacher School totaling $6.2M 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 Thacher 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 Thacher School, you can publish a response that is linked from this page.
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Of every $100 The Thacher School spent in FY2025, $48.58 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- University of Mount OliveMount Olive, NC · revenue $61M · programs 78.1% · FY2025
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- Board of Governors of The Banff CentreCanada, · revenue $61M · programs 86.3% · FY2025
- Philadelphia Performing Arts a String Theory Charter SchoolPhiladelphia, PA · revenue $61M · programs 74.6% · FY2025
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Questions people ask
How much of The Thacher School's spending goes to programs?
In the fiscal year ending June 30, 2025, The Thacher School reported that 48.6% of its $59.4 million in expenses went to program services, 45.1% to management and general and 6.4% to fundraising (Form 990, Part IX).
How much does The Thacher School pay its top executive?
The largest total compensation The Thacher School reported for one person in the fiscal year ending June 30, 2025 was $632,141, for the role of HOS (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Thacher School get its money?
Of $60.8 million in revenue in the fiscal year ending June 30, 2025, 41.2% came from contributions and grants and 32.7% from program service revenue (Form 990, Part VIII).
Is The Thacher School a registered charity?
The IRS lists EIN 95-1642398 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 202631339349302053 · read the filing
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202511329349302356 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202401299349303045 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202311329349306366 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202201309349304290 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202101319349300100 · read the filing
All filings for EIN 95-1642398: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.