VERMONT ACADEMY

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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

1876

Legal Domicile

Principal Officer

MIKE PELLER

Phone

8028696200

Tax Period

2024-07-01 to 2025-06-30

VERMONT ACADEMY, founded in 1876, is a mid-sized nonprofit in the Education sector that reported $19.4M in total revenue in fiscal year 2024. Expenses of $21.4M exceeded revenue, resulting in a 10% operating deficit.

Mission

TO PROVIDE A SUPPORTIVE COMMUNITY AND CLOSE PERSONAL ATTENTION TO ITS STUDENTS. VERMONT ACADEMY DEVELOPS CONFIDENT, ACTIVE LEARNERS AND RESPECTFUL CITIZENS.

Program Service Accomplishments

Program 1

Expenses: $18,470,723 Revenue: $15,432,585

VERMONT ACADEMY IS A PRIVATE BOARDING AND DAY SCHOOL PROVIDING A BROAD CURRICULUM AND AN EXTENSIVE ATHLETIC PROGRAM. PROGRAMS OF NOTE ARE FOUND IN THE CENTER FOR LEARNINGS, THE ARTS, AND IN OUR...

VERMONT ACADEMY IS A PRIVATE BOARDING AND DAY SCHOOL PROVIDING A BROAD CURRICULUM AND AN EXTENSIVE ATHLETIC PROGRAM. PROGRAMS OF NOTE ARE FOUND IN THE CENTER FOR LEARNINGS, THE ARTS, AND IN OUR SCIENCE AND ENGINEERING CURRICULUM.

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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 (2024)

Revenue Breakdown

Contributions & Grants $3,797,645

Program Service Revenue $15,432,585

Investment Income $144,579

Other Revenue $0

TOTAL REVENUE $19,374,809

Expense Breakdown

Grants Paid $8,658,542

Salaries & Benefits $6,069,596

Fundraising Expenses $674,273

Program Expenses $18,470,723

Other Expenses $6,663,471

TOTAL EXPENSES $21,391,609

Year-over-Year Comparison

	2024	2023	Change
Revenue	$19,374,809	$18,782,655	+0.0%
Expenses	$21,391,609	$18,864,241	+0.1%
Net Income	$-2,016,800	$-81,586	+23.7%

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

160

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

$461,731

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEREMY HERBERT	CHAIR	1.00	Officer Director	$0	$0	$0
JAYSON DUNBAR	VICE CHAIR	1.00	Officer Director	$0	$0	$0
MICHAEL CHOUKAS	TREASURER	1.00	Officer Director	$0	$0	$0
LINDA SAARNIJOKI	SECRETARY	1.00	Officer Director	$0	$0	$0
PHILLIP PECK	TRUSTEE	1.00	Director	$0	$0	$0
DIANE WILDER	TRUSTEE	1.00	Director	$0	$0	$0
JEANNLISS SANCHEZ	TRUSTEE	1.00	Director	$0	$0	$0
SHAWNE ROBINSON	TRUSTEE	1.00	Director	$0	$0	$0
MARY LIBUTTI	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM HOSLEY	TRUSTEE	1.00	Director	$0	$0	$0
MARY ELIZABETH ADELSON	TRUSTEE	1.00	Director	$0	$0	$0
JEFF JACOBS	TRUSTEE	1.00	Director	$0	$0	$0
ADAM TSCHORN	TRUSTEE	1.00	Director	$0	$0	$0
LISA BIRMINGHAM	TRUSTEE	1.00	Director	$0	$0	$0
BOB MCHUGH	TRUSTEE	1.00	Director	$0	$0	$0
TODD ORMISTON	TRUSTEE	1.00	Director	$0	$0	$0
CHRIS CROFT	TRUSTEE	1.00	Director	$0	$0	$0
KATHERINE DOUBLE	TRUSTEE	1.00	Director	$0	$0	$0
SCOTT BUCKLEY	TRUSTEE	1.00	Director	$0	$0	$0
SHAWN BYRON	TRUSTEE	1.00	Director	$0	$0	$0
LISA BIANCONI	TRUSTEE	1.00	Director	$0	$0	$0
NICK VAUGHN	TRUSTEE	1.00	Director	$0	$0	$0
SEAN BERSELL	TRUSTEE	1.00	Director	$0	$0	$0
GEORGE ATKINS	TRUSTEE	1.00	Director	$0	$0	$0
JENNIFER ZACCARA	HEAD OF SCHOOL	40.00	Officer	$240,421	$26,180	$266,601
VINCENT SCHUCK	CFO/COO	40.00	Officer	$183,780	$11,350	$195,130
BENJAMIN GARDNER	DIRECTOR OF VAMS	40.00	Highest	$137,363	$5,800	$143,163
BRIAN GILLORAN	ASST. HEAD OF SCHOOL	40.00	Highest	$119,893	$15,242	$135,135
TONIA FLEMING	DIRECTOR OF ADVANCEMENT	40.00	Highest	$115,931	$18,824	$134,755

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	$19,374,809	$21,391,609	$19,844,143	$-2,016,800
2024	No data	No data	No data	No data
2023	$15,106,285	$16,099,474	$24,585,152	$-993,189
2022	$10,107,402	$15,080,382	$24,019,233	$-4,972,980
2021	$12,078,437	$10,799,242	$27,535,481	$1,279,195
2020	$11,231,817	$12,531,535	$27,099,824	$-1,299,718
2019	$13,540,453	$13,961,956	$27,770,654	$-421,503
2018	$15,504,478	$13,876,176	$29,255,896	$1,628,302