THE FESSENDEN 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

1929

Legal Domicile

Principal Officer

STEVE ARMSTRONG

Phone

6179645350

Tax Period

2024-07-01 to 2025-06-30

THE FESSENDEN SCHOOL, founded in 1929, is a mid-sized nonprofit in the Education sector that reported $45.2M in total revenue in fiscal year 2024. Expenses of $42.7M left a modest 6% surplus.

Mission

THE FESSENDEN SCHOOL CULTIVATES EACH BOY'S TALENTS AND DEVELOPS IN BALANCE HIS CHARACTER, MIND, AND BODY IN AN INCLUSIVE AND JOYFUL COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $30,037,634 Revenue: $32,783,555

THE FESSENDEN SCHOOL IS AN INDEPENDENT BOYS ELEMENTARY SCHOOL FOR BOTH RESIDENT AND DAY STUDENTS WITH GRADES PRE-KINDERGARTEN THROUGH NINTH. THE PROGRAM HAS APPROX. 540 STUDENTS OF BOTH DOMESTIC AND INTERNATIONAL ORIGIN. ACADEMIC, ART AND ATHLETIC PROGRAMS ALL PLAY AN INTEGRAL PART OF EACH STUDENT'S EDUCATIONAL AND PERSONAL GROWTH.

Program 2

Expenses: $2,197,991 Revenue: $2,230,740

THE FESSENDEN SCHOOL SUMMER DAY CAMP PROGRAM PROVIDES APPROXIMATELY 325 CHILDREN WITH A DIVERSIFIED, SAFE AND REWARDING EDUCATIONAL EXPERIENCE. THE PROGRAM OPERATES FROM JULY THROUGH AUGUST AND IS...

THE FESSENDEN SCHOOL SUMMER DAY CAMP PROGRAM PROVIDES APPROXIMATELY 325 CHILDREN WITH A DIVERSIFIED, SAFE AND REWARDING EDUCATIONAL EXPERIENCE. THE PROGRAM OPERATES FROM JULY THROUGH AUGUST AND IS LOCATED ON THE SCHOOL'S 42 ACRE CAMPUS, AND UTILIZES THE SPACIOUS GROUNDS, 2 SWIMMING POOLS, CLASSROOM BUILDINGS, TENNIS COURTS AND ATHLETIC CENTER.

Program 3

Expenses: $1,446,890 Revenue: $1,051,805

THE FESSENDEN DAYCARE SERVICES THE LOCAL COMMUNITY AT LARGE, PROVIDING INFANT, TODDLER, AND PRESCHOOL PROGRAMS TO APPROXIMATELY 50 GIRLS AND BOYS.

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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 $5,138,845

Program Service Revenue $36,167,600

Investment Income $2,892,616

Other Revenue $960,933

TOTAL REVENUE $45,159,994

Expense Breakdown

Grants Paid $4,084,200

Salaries & Benefits $25,505,334

Fundraising Expenses $2,241,031

Program Expenses $34,127,666

Other Expenses $13,071,674

TOTAL EXPENSES $42,661,208

Year-over-Year Comparison

	2024	2023	Change
Revenue	$45,159,994	$41,839,171	+0.1%
Expenses	$42,661,208	$40,736,010	+0.0%
Net Income	$2,498,786	$1,103,161	+1.3%

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

404

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

$1,652,233

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ADAM ABRAMSON	TRUSTEE	1.00	Director	$0	$0	$0
DEVIN CONDRON	TRUSTEE	1.00	Director	$0	$0	$0
DAVE DAGLIO	TRUSTEE	1.00	Director	$0	$0	$0
TJ DOUGLAS	TRUSTEE	1.00	Director	$0	$0	$0
LAUREL FERRETTI	TRUSTEE	1.00	Director	$0	$0	$0
PETER FOLAN	TRUSTEE	1.00	Director	$0	$0	$0
DONALD FORNES	TRUSTEE	1.00	Director	$0	$0	$0
MELANIE HOFFMEISTER	TRUSTEE	1.00	Director	$0	$0	$0
HERBERT HOLTZ	TRUSTEE	1.00	Director	$0	$0	$0
ASHANA HURD	TRUSTEE	1.00	Director	$0	$0	$0
BADAR KHAN	TRUSTEE	1.00	Director	$0	$0	$0
KATE LENESS	TRUSTEE	1.00	Director	$0	$0	$0
AMANDA LOVEJOY	TRUSTEE	1.00	Director	$0	$0	$0
HIREN MANKODI	TRUSTEE	1.00	Director	$0	$0	$0
ALEX MARX	TRUSTEE	1.00	Director	$0	$0	$0
CRAIG MAURER	TRUSTEE	1.00	Director	$0	$0	$0
JIHOON PARK	TRUSTEE	1.00	Director	$0	$0	$0
JOE ROGERS	TRUSTEE	1.00	Director	$0	$0	$0
MICHELLE SANCHEZ	TRUSTEE	1.00	Director	$0	$0	$0
LIZ SHORTSLEEVE	TRUSTEE	1.00	Director	$0	$0	$0
SOPHIA SUN	TRUSTEE	1.00	Director	$0	$0	$0
SOL KUMIN	TRUSTEE/PRESIDENT	1.00	Officer Director	$0	$0	$0
TAD S YANAGI	TRUSTEE/VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
VINCENT MONTEMAGGIORE	TRUSTEE/TREASURER	1.00	Officer Director	$0	$0	$0
TARA CIONGOLI	TRUSTEE/CLERK	1.00	Officer Director	$0	$0	$0
STEVE ARMSTRONG	HEAD OF SCHOOL	45.00	Officer	$535,918	$173,044	$708,962
ABIGAIL BUCCELLA	CHIEF ADVANCEMENT OFFICER	45.00	Officer	$226,033	$152,722	$378,755
JOHN LESAFFRE	CFO	45.00	Officer	$250,943	$37,966	$288,909
MICHAEL GROSSMAN	COO	45.00	Officer	$211,312	$64,295	$275,607
SEAN GUTHRIE	ASST HEAD OF SCHOOL	45.00	Highest	$174,231	$200,828	$375,059
BRANDON ODOM	HEAD OF MIDDLE SCHOOL	45.00	Highest	$136,826	$156,555	$293,381
CHRIS YOUNG	DIRECTOR OF ADMISSIONS	45.00	Highest	$138,493	$131,120	$269,613
SAMI ATIF	DIRECTOR OF EQUITY & INCLUSION	45.00	Highest	$142,506	$50,364	$192,870
CURT LEWELLYN	INNOVATION CENTER DIRECTOR	45.00	Highest	$144,996	$41,711	$186,707

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	$45,159,994	$42,661,208	$163,240,755	$2,498,786
2024	$41,839,171	$40,736,010	$153,349,431	$1,103,161
2023	$40,730,480	$38,664,778	$144,945,540	$2,065,702
2022	$40,822,946	$35,100,332	$139,949,427	$5,722,614
2021	$33,180,214	$32,771,962	$138,609,682	$408,252
2020	$31,250,564	$32,459,077	$107,042,545	$-1,208,513
2019	$34,148,495	$31,587,011	$109,486,936	$2,561,484
2018	$36,381,310	$30,784,200	$98,853,963	$5,597,110