MILTON ACADEMY

EIN: 042103603 501(c)(3) Education

MILTON, MA

Total Revenue
$86,198,742
Total Expenses
$95,321,635
Total Assets
$514,718,965
Net Assets
$428,566,347
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1798
Legal Domicile
MA
Principal Officer
HEIDI VANDERBILT-BROWN
Phone
6178981798
Tax Period
2022-07-01 to 2023-06-30

MILTON ACADEMY, founded in 1798, is a mid-sized nonprofit in the Education sector that reported $86.2M in total revenue in fiscal year 2022. Revenue fell 26% from the prior year — a significant decline worth monitoring. Expenses of $95.3M exceeded revenue, resulting in a 11% operating deficit.

Mission

MILTON ACADEMY CULTIVATES IN ITS STUDENTS A PASSION FOR LEARNING AND A RESPECT FOR OTHERS. EMBRACING DIVERSITY AND THE PURSUIT OF EXCELLENCE, WE CREATE A COMMUNITY IN WHICH INDIVIDUALS DEVELOP COMPETENCE, CONFIDENCE AND CHARACTER. SEE SCHEDULE O FOR FULL DESCRIPTION.MILTON ACADEMY CULTIVATES IN ITS STUDENTS A PASSION FOR LEARNING AND A RESPECT FOR OTHERS. EMBRACING DIVERSITY AND THE PURSUIT OF EXCELLENCE, WE CREATE A COMMUNITY IN WHICH INDIVIDUALS DEVELOP COMPETENCE, CONFIDENCE AND CHARACTER. OUR ACTIVE LEARNING ENVIRONMENT, IN AND OUT OF THE CLASSROOM, DEVELOPS CREATIVE AND CRITICAL THINKERS, UNAFRAID TO EXPRESS THEIR IDEAS, PREPARED TO SEEK MEANINGFUL LIFETIME SUCCESS AND TO LIVE BY OUR MOTTO, "DARE TO BE TRUE."

Program Service Accomplishments

Program 1
Expenses: $60,702,988 Revenue: $60,628,186

MILTON ACADEMY PROMOTES AN ENVIRONMENT OF LIFELONG LEARNING TO 1019 STUDENTS IN GRADES K-12. STUDENTS ARE ENCOURAGED TO PARTICIPATE IN COMMUNITY SERVICE AND VOLUNTEER OPPORTUNITIES DURING THE YEAR IN...

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MILTON ACADEMY PROMOTES AN ENVIRONMENT OF LIFELONG LEARNING TO 1019 STUDENTS IN GRADES K-12. STUDENTS ARE ENCOURAGED TO PARTICIPATE IN COMMUNITY SERVICE AND VOLUNTEER OPPORTUNITIES DURING THE YEAR IN AN EFFORT TO INSTILL A PASSION FOR GIVING BACK TO OTHERS FOR MANY YEARS. FULL AND PARTIAL SCHOLARSHIPS ARE AWARDED TO STUDENTS BASED ON FINANCIAL NEED. IN 2023, MILTON ACADEMY AWARDED FINANCIAL AID TO 27.6% OF OUR STUDENTS.SEE SCHEDULE O FOR FULL DESCRIPTION.MILTON ACADEMY PROMOTES AN ENVIRONMENT OF LIFELONG LEARNING TO 1019 STUDENTS IN GRADES K-12. STUDENTS ARE ENCOURAGED TO PARTICIPATE IN COMMUNITY SERVICE AND VOLUNTEER OPPORTUNITIES DURING THE YEAR IN AN EFFORT TO INSTILL A PASSION FOR GIVING BACK TO OTHERS FOR MANY YEARS. FULL AND PARTIAL SCHOLARSHIPS ARE AWARDED TO STUDENTS BASED ON FINANCIAL NEED. IN 2023, MILTON ACADEMY AWARDED FINANCIAL AID TO 27.6% OF OUR STUDENTS.THE COMMUNITY ENGAGEMENT PROGRAM [COMMUNITY ENGAGEMENT PROGRAMS AND PARTNERSHIPS (CEPP)], SEEKS TO INSTILL AND SUPPORT A PASSION FOR SERVICE IN MILTON ACADEMY'S STUDENTS, FACULTY AND STAFF, THROUGH PROVIDING A MULTITUDE OF OPPORTUNITIES FROM TUTORING IN LOCAL SCHOOLS, TO DONATING BLOOD, TO ASSISTING THE ELDERLY. THE PROGRAM STRIVES TO PROVIDE THE MILTON COMMUNITY WITH INTERESTING AND MEANINGFUL VOLUNTEER OPPORTUNITIES. ON AVERAGE OVER 240 STUDENTS MAKE WEEKLY COMMITMENTS TO MORE THAN 20 DIFFERENT ORGANIZATIONS IN THE GREATER BOSTON AREA. ANOTHER 200 STUDENTS PARTICIPATE IN MULTI-ANNUAL EVENTS SUCH AS, SPECIAL OLYMPICS TOURNAMENTS, RED CROSS BLOOD DRIVE AND HOLIDAY GIVING EVENTS. THE ENTIRE UPPER SCHOOL COMMUNITY PARTICIPATES IN THE ANNUAL HUNGER AWARENESS EVENT AND COMMUNITY ENGAGEMENT DAY (SUPPORTING 35 PARTNERS AROUND GREATER BOSTON). THE PROGRAM ALSO SUPPORTS INDIVIDUAL AND GROUP INITIATIVES FOR PARTICULAR CAUSES, SUCH AS THE WINTER WALK (SUPPORTING UNHOUSED INDIVIDUALS), MILTON TOWN GREEN UP DAY, AND HURRICANE RELIEF.

Program 2
Expenses: $3,020,512 Revenue: $2,745,649

THE MOUNTAIN SCHOOL OF MILTON ACADEMY IS AN INDEPENDENT SEMESTER PROGRAM THAT PROVIDES HIGH SCHOOL JUNIORS THE OPPORTUNITY TO LIVE AND WORK ON AN ORGANIC FARM IN RURAL VERMONT. EACH SEMESTER THE...

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THE MOUNTAIN SCHOOL OF MILTON ACADEMY IS AN INDEPENDENT SEMESTER PROGRAM THAT PROVIDES HIGH SCHOOL JUNIORS THE OPPORTUNITY TO LIVE AND WORK ON AN ORGANIC FARM IN RURAL VERMONT. EACH SEMESTER THE MOUNTAIN SCHOOL DRAWS 45 HIGH-ACHIEVING STUDENTS FROM ALL OVER THE COUNTRY. COURSES PROVIDE A DEMANDING, INTEGRATED LEARNING EXPERIENCE THAT TAKES FULL ADVANTAGE OF THE SCHOOL'S SMALL SIZE AND MOUNTAIN CAMPUS. STUDENTS COME FROM DIFFERENT BACKGROUNDS AND SCHOOLS AROUND THE COUNTRY, AND ARE CHALLENGED TO WORK TOGETHER AND LEARN FROM EACH OTHER, AS THEY EXPLORE THE INTERSECTION OF THE SCHOOL'S FARM, ACADEMIC PROGRAM, AND RESIDENTIAL LIFE. THE GOAL IS FOR STUDENTS TO RETURN TO THEIR SCHOOLS AND COMMUNITIES, MORE CLEAR ABOUT THEMSELVES AND BETTER PREPARED TO BECOME EFFECTIVE CITIZENS.

Program 3
Expenses: $2,520,725

THROUGH INTERSCHOLASTIC AND INTRAMURAL SPORTS, AS WELL AS PHYSICAL EDUCATION COURSES, ALL MILTON ACADEMY STUDENTS ARE INVOLVED IN PHYSICALLY ACTIVE AND CHALLENGING PURSUITS THAT HELP FORM AN...

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THROUGH INTERSCHOLASTIC AND INTRAMURAL SPORTS, AS WELL AS PHYSICAL EDUCATION COURSES, ALL MILTON ACADEMY STUDENTS ARE INVOLVED IN PHYSICALLY ACTIVE AND CHALLENGING PURSUITS THAT HELP FORM AN EXCEPTIONAL EDUCATIONAL EXPERIENCE. ATHLETIC ACTIVITY IS CERTAINLY AN EXPRESSION OF ONE FORM OF INTELLIGENCE, AN INTELLIGENCE THAT NEEDS TO BE DEVELOPED AND NURTURED AS DOES ANY OTHER.

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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%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $14,957,306
Program Service Revenue $65,083,373
Investment Income $6,158,063
Other Revenue $0
TOTAL REVENUE $86,198,742

Expense Breakdown

Grants Paid $17,332,742
Salaries & Benefits $43,135,078
Fundraising Expenses $4,098,209
Program Expenses $69,274,775
Other Expenses $34,839,385
TOTAL EXPENSES $95,321,635

Year-over-Year Comparison

2022 2021 Change
Revenue $86,198,742 $116,547,638 -0.3%
Expenses $95,321,635 $90,543,037 +0.1%
Net Income $-9,122,893 $26,004,601 -1.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
28
Independent Members
28
Employees
628
Volunteers
245

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
9
$1,325,986
Total Directors
28
$0
Key Employees
2
$667,444
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID B BREWSTER TRUSTEE 1.00
Director
$0 $0 $0
DOUGLAS CROCKER II TRUSTEE (UNTIL 6/30/23) 1.00
Director
$0 $0 $0
JASON DILLOW TRUSTEE 1.00
Director
$0 $0 $0
SHADI FAROKHZAD TRUSTEE 1.00
Director
$0 $0 $0
YENG FELIPE BUTLER TRUSTEE 1.00
Director
$0 $0 $0
JOHN B FITZGIBBONS TRUSTEE 1.00
Director
$0 $0 $0
ELEANOR HALLER-JORDEN TRUSTEE (UNTIL 6/30/23) 1.00
Director
$0 $0 $0
SONU KALRA TRUSTEE 1.00
Director
$0 $0 $0
ELIZABETH B KATZ TRUSTEE (UNTIL 6/30/23) 1.00
Director
$0 $0 $0
WILLIAM KNOWLTON TRUSTEE (UNTIL 6/30/23) 1.00
Director
$0 $0 $0
RAVI MALLELA TRUSTEE 1.00
Director
$0 $0 $0
JOHN D MCEVOY TRUSTEE 1.00
Director
$0 $0 $0
MEIKA NEBLETT TRUSTEE 1.00
Director
$0 $0 $0
OSAREMEN F OKOLO TRUSTEE 1.00
Director
$0 $0 $0
EUGENE F REILLY TRUSTEE 1.00
Director
$0 $0 $0
HENDRICK SIN TRUSTEE 1.00
Director
$0 $0 $0
GABRIEL SUNSHINE TRUSTEE 1.00
Director
$0 $0 $0
PATRICK TSANG TRUSTEE 1.00
Director
$0 $0 $0
JUSTIN M WALSH TRUSTEE 1.00
Director
$0 $0 $0
SYLVIA P WESTPHAL TRUSTEE (UNTIL 6/30/23) 1.00
Director
$0 $0 $0
HELEN ZHU TRUSTEE 1.00
Director
$0 $0 $0
CLAIRE HUGHES JOHNSON TRUSTEE - PRESIDENT 4.00
Officer Director
$0 $0 $0
PETER R KAGAN TRUSTEE - TREASURER 3.00
Officer Director
$0 $0 $0
YUNLI LOU TRUSTEE - VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
LUIS M VICEIRA TRUSTEE - VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
EDWARD E WENDELL JR TRUSTEE - VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
RONNELL L WILSON TRUSTEE - VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
STUART I MATHEWS TRUSTEE - SECRETARY 3.00
Officer Director
$0 $0 $0
THEODORICK BLAND HEAD OF SCHOOL (UNTIL JUNE 2023) 60.00
Officer
$700,687 $273,414 $974,101
HEIDI VANDERBILT-BROWN CHIEF FINANCIAL & OPERATING OFFICER 50.00
Officer
$296,265 $55,620 $351,885
LISA WINICK CHIEF ADVANCEMENT OFFICER 50.00
Key Emp
$306,343 $116,088 $422,431
DAVID BALL UNTIL 63022 PRINCIPAL, UPPER SCHOOL 50.00
Key Emp
$173,916 $71,097 $245,013
CAROL A GIUSTI-CAHALANE DIRECTOR OF DEVELOPMENT 50.00
Highest
$192,535 $47,243 $239,778
DEBORAH O'TOOLE CHIEF HR AND RISK OFFICER 50.00
Highest
$169,394 $47,361 $216,755
PAUL REBUCK DEAN OF ENROLLMENT & FINANCIAL AID 50.00
Highest
$187,503 $84,895 $272,398
SAMANTHA E DIXON EVERSOLE DIRECTOR OF ADVANCEMENT OPERATIONS 50.00
Highest
$172,593 $44,033 $216,626
FRANCIS PATTI UNTIL 63023 PRINCIPAL, LOWER SCHOOL 50.00
Highest
$212,630 $26,135 $238,765
ALDEN SMITH FMR DIRECTOR OF THE MOUNTAIN SCHOOL 50.00
$221,790 $41,367 $263,157
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 No data No data No data No data
2023 $86,198,742 $95,321,635 $514,718,965 $-9,122,893
2022 $116,547,638 $90,543,037 $483,505,608 $26,004,601
2021 $105,004,685 $83,560,459 $512,730,465 $21,444,226
2020 $105,691,036 $80,690,297 $434,577,806 $25,000,739
2019 $89,874,906 $78,797,388 $406,482,319 $11,077,518
2018 $87,947,597 $77,576,701 $406,699,265 $10,370,896
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