ST PAUL'S SCHOOL

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1856

Legal Domicile

Principal Officer

KATHLEEN GILES

Phone

6032294635

Tax Period

2023-07-01 to 2024-06-30

ST PAUL'S SCHOOL, founded in 1856, is a mid-sized nonprofit in the Education sector that reported $98.9M in total revenue in fiscal year 2023. Revenue fell 23% from the prior year — a significant decline worth monitoring. Expenses of $85.6M left a modest 13% surplus.

Mission

ST. PAUL'S SCHOOL IS A FULLY RESIDENTIAL ACADEMIC COMMUNITY. IN EDUCATING STUDENTS TO BUILD PURPOSEFUL LIVES IN SERVICE TO THE GREATER GOOD, ST. PAUL'S SCHOOL ENGAGES YOUNG PEOPLE IN A DIVERSE, INCLUSIVE, AND ETHICAL COMMUNITY, DEDICATED TO THE PURSUIT OF (SEE SCHEDULE O) EXCELLENCE IN CHARACTER AND SCHOLARSHIP AND INSPIRED BY THE BEAUTY AND SPIRIT OF OUR MILLVILLE HOME.

Program Service Accomplishments

Program 1

Expenses: $65,325,992 Revenue: $37,131,128

ST. PAUL'S SCHOOL'S PRIMARY PROGRAM SERVICE IS THE EDUCATION OF STUDENTS IN GRADE 9 THROUGH 12, IN A COEDUCATIONAL FULLY RESIDENTIAL SCHOOL ENVIRONMENT. THE SCHOOL STRIVES TO BE AN INCLUSIVE...

ST. PAUL'S SCHOOL'S PRIMARY PROGRAM SERVICE IS THE EDUCATION OF STUDENTS IN GRADE 9 THROUGH 12, IN A COEDUCATIONAL FULLY RESIDENTIAL SCHOOL ENVIRONMENT. THE SCHOOL STRIVES TO BE AN INCLUSIVE, EQUITABLE, AND RICHLY DIVERSE COMMUNITY, ONE THAT IS COMMITTED TO ENSURING EQUAL ACCESS TO OPPORTUNITIES, AS WELL AS PROMOTING INDIVIDUAL GROWTH THROUGH LEARNING ABOUT THE SELF AND THE PERSPECTIVES AND EXPERIENCE OF OTHERS. THE CONCENTRATED ACADEMIC WORK DONE IN COLLABORATION BY THE STUDENTS AND FACULTY AT ST. PAUL'S SCHOOL IS THE HALLMARK OF OUR ACADEMIC PROGRAM. THROUGH THE SCHOOL'S RIGOROUS ACADEMIC STANDARDS, WE ENCOURAGE OUR MOTIVATED STUDENTS TO ATTAIN THE HIGHEST LEVELS OF SCHOLARSHIP AND INTELLECTUAL GROWTH AND DEVELOPMENT.

Program 2

Expenses: $1,334,703 Revenue: $806,000

ST. PAUL'S SCHOOL FOUNDED THE ADVANCED STUDIES PROGRAM (ASP) IN 1958 TO PROVIDE TALENTED NEW HAMPSHIRE PUBLIC AND PAROCHIAL HIGH SCHOOL RISKING SENIORS WITH CHALLENGING EDUCATIONAL OPPORTUNITIES...

ST. PAUL'S SCHOOL FOUNDED THE ADVANCED STUDIES PROGRAM (ASP) IN 1958 TO PROVIDE TALENTED NEW HAMPSHIRE PUBLIC AND PAROCHIAL HIGH SCHOOL RISKING SENIORS WITH CHALLENGING EDUCATIONAL OPPORTUNITIES OTHERWISE UNAVAILABLE TO THEM. EACH SUMMER, YOUNG MEN AND WOMEN LIVE ON THE ST. PAUL'S SCHOOL'S CAMPUS FOR FIVE AND A HALF WEEKS. STUDENTS ARE IMMERSED IN A COLLEGE-LEVEL CURRICULUM AND CHALLENGED TO DISCOVER NEW WAYS OF LEARNING. ASP OFFERS A WIDE VARIETY OF COURSES FROM SHAKESPEARE TO ASTRONOMY, WHICH THOROUGHLY EXPLORE TOPICS IN SEVERAL DISCIPLINES. IN THEIR TIME AT ASP, STUDENTS BECOME IMMERSED IN THEIR SUBJECT OF CHOICE, SETTING THEM UP FOR A LIFELONG UNDERSTANDING OF THE MATERIAL. (SEE SCHEDULE O FOR CONTINUATION)ADDITIONALLY, ALL ASP STUDENTS HAVE AN OPPORTUNITY TO ENHANCE THEIR WRITING SKILLS THROUGH COMPULSORY INTERACTIVE WRITING WORKSHOPS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $13,632,536

Program Service Revenue $37,937,128

Investment Income $46,997,244

Other Revenue $310,651

TOTAL REVENUE $98,877,559

Expense Breakdown

Grants Paid $11,953,651

Salaries & Benefits $38,480,829

Fundraising Expenses $6,332,349

Program Expenses $66,660,695

Other Expenses $35,179,478

TOTAL EXPENSES $85,613,958

Year-over-Year Comparison

	2023	2022	Change
Revenue	$98,877,559	$128,355,809	-0.2%
Expenses	$85,613,958	$81,095,717	+0.1%
Net Income	$13,263,601	$47,260,092	-0.7%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✓ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

431

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✓ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,038,563

Total Directors

$1,021,302

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHY GILES	RECTOR	60.00	Officer Director	$922,163	$99,139	$1,021,302
MR MATTHEW BAIRD II	TRUSTEE	3.00	Director	$0	$0	$0
MRS CANDICE BEDNAR	TRUSTEE	3.00	Director	$0	$0	$0
MR JULIAN CL CHENG	TRUSTEE	3.00	Director	$0	$0	$0
MR WILLIAM F DOYLE	TRUSTEE	3.00	Director	$0	$0	$0
MS SUSAN M FALES-HILL	TRUSTEE	3.00	Director	$0	$0	$0
MR DAVID A FLEISCHNER	TRUSTEE	3.00	Director	$0	$0	$0
MR TULLY M FRIEDMAN	TRUSTEE	3.00	Director	$0	$0	$0
MR HENRY C-T HO	TRUSTEE	3.00	Director	$0	$0	$0
MS ELIZABETH HENRIQUES HUGHES	TRUSTEE	3.00	Director	$0	$0	$0
MR RAYMOND JOSEPH JR	TRUSTEE	3.00	Director	$0	$0	$0
MS NOELLE KWOK	TRUSTEE	3.00	Director	$0	$0	$0
MRS CAROLINE GILMAN LA VOIE	TRUSTEE	3.00	Director	$0	$0	$0
MR BEN A LOEHNEN	TRUSTEE	3.00	Director	$0	$0	$0
MR EDWARD K-J PARK	TRUSTEE	3.00	Director	$0	$0	$0
MS ELIZABETH OVERTON ROBBINS	TRUSTEE	3.00	Director	$0	$0	$0
MR CHASE F ROBINSON	TRUSTEE	3.00	Director	$0	$0	$0
MS PAGE MONTELLE SARGISSON	TRUSTEE	3.00	Director	$0	$0	$0
MR TIMOTHY A STEINERT	TRUSTEE	3.00	Director	$0	$0	$0
MRS LAUREN E MCKENNA SURZYN	TRUSTEE	3.00	Director	$0	$0	$0
MS NANCY WALKER	TREASURER (FROM 6/28/24)	3.00	Director	$0	$0	$0
MR DAVID SCULLY	PRESIDENT	10.00	Officer Director	$0	$0	$0
MR JOHN D AVERY	TREASURER (UNTIL 6/27/24)	3.00	Officer Director	$0	$0	$0
MR AMACHIE K ACKAH	SECRETARY	3.00	Officer Director	$0	$0	$0
DR CAROLINE BROOKS SEAY	CFO & CAO (AS OF 12/11/23)	50.00	Officer	$13,269	$3,992	$17,261
SCOTT P BOHAN	CHIEF ADVANCEMENT OFFICER	50.00	Highest	$228,223	$93,747	$321,970
DR JOHN C BASSI	MEDICAL DIRECTOR	50.00	Highest	$249,319	$61,054	$310,373
DR THERESA FERNS	VICE RECTOR OF SCHOOL LIFE	50.00	Highest	$202,244	$94,067	$296,311
JAMES KOLKER SENIOR DIR	OF FACILITIES (UNTIL 1/18/24)	50.00	Highest	$225,467	$46,605	$272,072
ERIN NECHIPURENKO	SENIOR DIRECTOR OF HR	50.00	Highest	$181,746	$57,525	$239,271
MR STEPHEN HIETSCH	CFO (UNTIL 6/30/2023)	50.00		$458,169	$44,129	$502,298

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$98,877,559	$85,613,958	$1,017,018,706	$13,263,601
2023	$128,355,809	$81,095,717	$953,754,407	$47,260,092
2022	$117,316,597	$73,364,258	$908,168,263	$43,952,339
2021	$93,458,496	$70,157,653	$983,992,117	$23,300,843
2020	$68,927,567	$66,360,519	$852,564,075	$2,567,048
2019	$66,994,108	$66,412,847	$870,872,879	$581,261