NOBLE AND GREENOUGH 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

1866

Legal Domicile

Principal Officer

CATHERINE J HALL

Phone

7813263700

Tax Period

2023-09-01 to 2024-08-31

NOBLE AND GREENOUGH SCHOOL, founded in 1866, is a mid-sized nonprofit in the Education sector that reported $65.4M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $60.2M left a modest 8% surplus.

Mission

NOBLE AND GREENOUGH SCHOOL IS A RIGOROUS ACADEMIC COMMUNITY DEDICATED TO INSPIRING LEADERSHIP FOR THE PUBLIC GOOD. THROUGH MENTORING RELATIONSHIPS, WE MOTIVATE STUDENTS TO ACHIEVE THEIR HIGHEST POTENTIAL AND TO LEAD LIVES CHARACTERIZED BY SERVICE TO OTHERS. THE NOBLES COMMUNITY: GENERATES CRITICAL, CREATIVE, SOCIALLY CONSCIOUS THINKERS; UPHOLDS A COMMITMENT TO DIVERSITY; DEVELOPS CHARACTER AND INTELLECT IN DELIBERATE CONJUNCTION; CULTIVATES PURPOSEFUL CITIZENSHIP ON LOCAL, NATIONAL AND GLOBAL LEVELS; BUILDS INDEPENDENCE AND SELF-RESPECT THROUGH CHALLENGE AND ACHIEVEMENT; ESPOUSES HUMILITY, HUMOR, COLLABORATION, HONESTY AND RESPECT FOR OTHERS AS THE FOUNDATIONS OF A VIBRANT INTELLECTUAL COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $45,863,227 Revenue: $38,463,613

NOBLE & GREENOUGH SCHOOL: INSTRUCTIONAL ACTIVITY TO STUDENTS FROM GRADE 7 TO 12 - 628 STUDENTS, 137 MEMBERS OF FACULTY. FINANCIAL AID IS GRANTED.

Program 2

Expenses: $4,565,502 Revenue: $4,962,797

NOBLES DAY CAMP: 8 WEEK PROGRAM FOR THE GREATER BOSTON COMMUNITY - 1,568 CAMPERS, 335 STAFF. CAMPERSHIP GRANTED.

Program 3

Expenses: $834,646 Revenue: $38,944

ACHIEVE: A TUITION-FREE EDUCATIONAL PROGRAM SERVING LOW-INCOME MIDDLE SCHOOL CHILDREN FROM BOSTON PUBLIC SCHOOLS, ACHIEVE PROVIDES ACADEMIC AND PERSONAL ENRICHMENT THROUGH A RIGOROUS AND ENGAGING...

ACHIEVE: A TUITION-FREE EDUCATIONAL PROGRAM SERVING LOW-INCOME MIDDLE SCHOOL CHILDREN FROM BOSTON PUBLIC SCHOOLS, ACHIEVE PROVIDES ACADEMIC AND PERSONAL ENRICHMENT THROUGH A RIGOROUS AND ENGAGING SIX-WEEK SUMMER PROGRAM AND ONGOING ACADEMIC YEAR TUTORING AND SUPPORT. ACHIEVE SEEKS TO INCREASE STUDENTS' ACADEMIC SKILLS, MOTIVATION, AND SELF-CONFIDENCE AND PUT THEM ON THE PATH TO COLLEGE - 65 STUDENTS, 28 MEMBERS OF FACULTY.

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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 $13,743,989

Program Service Revenue $43,465,354

Investment Income $8,006,355

Other Revenue $214,761

TOTAL REVENUE $65,430,459

Expense Breakdown

Grants Paid $7,474,091

Salaries & Benefits $33,723,843

Fundraising Expenses $3,464,568

Program Expenses $51,263,375

Other Expenses $18,987,693

TOTAL EXPENSES $60,185,627

Year-over-Year Comparison

	2023	2022	Change
Revenue	$65,430,459	$58,642,568	+0.1%
Expenses	$60,185,627	$58,076,102	+0.0%
Net Income	$5,244,832	$566,466	+8.3%

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

649

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

$1,733,254

Total Directors

Key Employees

$404,669

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ABBEYGALE ANDERSON	TRUSTEE	5.00	Director	$0	$0	$0
JESSICA BAYLOR	TRUSTEE	5.00	Director	$0	$0	$0
ELLEN BERKMAN	TRUSTEE (AS OF 06/13/24)	5.00	Director	$0	$0	$0
KEVIN CALLAGHAN	TRUSTEE (UNTIL 06/13/24)	5.00	Director	$0	$0	$0
LORI CASHMAN	TRUSTEE	5.00	Director	$0	$0	$0
KARL CHENG	TRUSTEE	5.00	Director	$0	$0	$0
BROGHAN CULLY	TRUSTEE (AS OF 06/13/24)	5.00	Director	$0	$0	$0
STEVE ELLIS	TRUSTEE	5.00	Director	$0	$0	$0
DAVID FRANKEL	TRUSTEE	5.00	Director	$0	$0	$0
TOM GILBANE	TRUSTEE (AS OF 06/13/24)	5.00	Director	$0	$0	$0
RANJAY GULATI	TRUSTEE	5.00	Director	$0	$0	$0
CLINTON HESS	TRUSTEE	5.00	Director	$0	$0	$0
ANDY JANFAZA	TRUSTEE (UNTIL 06/13/24)	5.00	Director	$0	$0	$0
SENAM KUMAHIA	TRUSTEE	5.00	Director	$0	$0	$0
LAURA MALKIN	TRUSTEE	5.00	Director	$0	$0	$0
DAVID MEDINA	TRUSTEE (AS OF 06/13/24)	5.00	Director	$0	$0	$0
JANET RAPELYE	TRUSTEE	5.00	Director	$0	$0	$0
KURT SOMERVILLE	TRUSTEE (AS OF 06/13/24)	5.00	Director	$0	$0	$0
JEFF SCHWARTZ	TRUSTEE	5.00	Director	$0	$0	$0
STACY SCOTT	TRUSTEE	5.00	Director	$0	$0	$0
JENNIFER SEEMAN	TRUSTEE	5.00	Director	$0	$0	$0
JOHN STEPHENSON	TRUSTEE (UNTIL 06/13/24)	5.00	Director	$0	$0	$0
APRIL WATSON	TRUSTEE (UNTIL 06/13/24)	5.00	Director	$0	$0	$0
JOHN M MONTGOMERY	PRESIDENT	5.00	Officer Director	$0	$0	$0
JEFF PATTERSON	TREASURER (UNTIL 06/13/24)	5.00	Officer Director	$0	$0	$0
TOM SARGENT	TREASURER	5.00	Officer Director	$0	$0	$0
JILL WALSH	CLERK/SECRETARY	5.00	Officer Director	$0	$0	$0
CATHERINE J HALL	HEAD OF SCHOOL	40.00	Officer	$556,877	$332,351	$889,228
JOHN T GIFFORD	ASSISTANT HEAD OF SCHOOL	40.00	Officer	$315,817	$110,195	$426,012
STEPHEN M GINSBERG	CHIEF FIN. & OPERATING OFFICER	40.00	Officer	$349,502	$68,512	$418,014
GEORGE MALEY	CHIEF ADVANCEMENT OFFICER	40.00	Key Emp	$236,130	$168,539	$404,669
LISA ROSE	DIRECTOR OF DEVELOPMENT	40.00	Highest	$171,687	$163,518	$335,205
MICHAEL DENNING	HEAD OF UPPER SCHOOL	40.00	Highest	$179,902	$63,685	$243,587
MARK SPENCE	DEAN OF STUDENT ENGAGEMENT	40.00	Highest	$199,927	$24,516	$224,443
KATE RAMSDELL	DIRECTOR OF COLLEGE COUNSELING	40.00	Highest	$169,424	$54,048	$223,472
LAURA BISHOP	CONTROLLER	40.00	Highest	$177,186	$29,398	$206,584

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	$65,430,459	$60,185,627	$385,705,489	$5,244,832
2023	$58,642,568	$58,076,102	$347,480,647	$566,466
2022	$63,222,168	$55,954,512	$327,998,814	$7,267,656
2021	$55,304,957	$54,514,740	$357,051,555	$790,217
2020	$46,235,630	$48,945,996	$301,660,054	$-2,710,366
2019	$52,902,949	$49,604,688	$296,315,709	$3,298,261
2018	$54,369,704	$47,522,922	$292,820,073	$6,846,782