FORMAN SCHOOL INC

EIN: 060646648 501(c)(3)

LITCHFIELD, CT

Total Revenue
$23,568,387
Total Expenses
$23,717,831
Total Assets
$51,299,139
Net Assets
$35,671,496
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1930
Legal Domicile
CT
Principal Officer
AMY CLEMONS
Phone
8605671807
Tax Period
2024-07-01 to 2025-06-30

FORMAN SCHOOL INC, founded in 1930, is a mid-sized nonprofit that reported $23.6M in total revenue in fiscal year 2024.

Mission

THE FORMAN SCHOOL IS AN INDEPENDENT, COEDUCATIONAL COLLEGE PREPARATORY SCHOOL FOR BOARDING AND DAY STUDENTS WITH IDENTIFIED LEARNING DIFFERENCES. FORMAN DEVELOPS THE WHOLE STUDENT SO THAT ALL GRADUATES BECOME EDUCATED, CONFIDENT, SELF-ADVOCATES THROUGHOUT LIFE.

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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 (2024)

Revenue Breakdown

Contributions & Grants $3,379,419
Program Service Revenue $19,012,560
Investment Income $1,031,807
Other Revenue $144,601
TOTAL REVENUE $23,568,387

Expense Breakdown

Grants Paid $3,024,930
Salaries & Benefits $11,848,075
Fundraising Expenses $1,021,543
Program Expenses $18,679,554
Other Expenses $8,844,826
TOTAL EXPENSES $23,717,831

Year-over-Year Comparison

2024 2023 Change
Revenue $23,568,387 $23,869,297 0.0%
Expenses $23,717,831 $23,725,092 0.0%
Net Income $-149,444 $144,205 -2.0%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
12
Employees
143
Volunteers
35

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
7
$513,434
Total Directors
13
$0
Key Employees
1
$359,963
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ADAM MAN FORMER HEAD OF SCHOOL (UNTIL 06/24) 60.00
$501,408 $68,573 $569,981
EDWARD KOWALCHICK ASSOC. HEAD OF SCHOOL (UNTIL 06/25) 60.00
Key Emp
$287,529 $72,434 $359,963
AMY CLEMONS HEAD OF SCHOOL (AS OF 07/24) 60.00
Officer
$238,938 $74,859 $313,797
PETER MALTBY CFO (UNTIL 04/25) 60.00
Officer
$170,130 $29,507 $199,637
JAIME FEINMAN DIR. OF ADMISSION (10/25) 60.00
Highest
$150,140 $38,678 $188,818
MARYELLEN RUTH DIR. OF DIAG. CENTER (UNTIL 05/25) 60.00
Highest
$133,618 $33,630 $167,248
ALLIE MAXWELL ASSISTANT HOS FOR INTERNAL AFFAIRS 60.00
Highest
$116,708 $17,682 $134,390
KERRY CONROY DIR. OF MARKETING & COMMUNICATIONS 60.00
Highest
$115,441 $32,071 $147,512
MARTIN BOZAK DIR.OF OPERATIONS (UNTIL 07/25) 60.00
Highest
$114,992 $24,386 $139,378
MICHAEL COOK PRESIDENT & TRUSTEE 1.00
Officer Director
$0 $0 $0
ANNE QUILHOT BUCKLEY VICE PRESIDENT & TRUSTEE 1.00
Officer Director
$0 $0 $0
BARBARA CHACE VICE PRESIDENT & TRUSTEE 1.00
Officer Director
$0 $0 $0
JOHN FINNERTY TREASURER & TRUSTEE 1.00
Officer Director
$0 $0 $0
ELIZABETH GARBER DANIELS SECRETARY & TRUSTEE 1.00
Officer Director
$0 $0 $0
ANNETTE R JENNER-MATTHEWS TRUSTEE 1.00
Director
$0 $0 $0
PREETHI KRISHNA TRUSTEE 1.00
Director
$0 $0 $0
CAMERON SHERRILL TRUSTEE 1.00
Director
$0 $0 $0
DAVID WHITE TRUSTEE 1.00
Director
$0 $0 $0
DANIELLA CAVENAGH TRUSTEE 1.00
Director
$0 $0 $0
ROBERT FINLAY TRUSTEE 1.00
Director
$0 $0 $0
DENNIS MANNING TRUSTEE 1.00
Director
$0 $0 $0
ABE PRONTNICKI TRUSTEE 1.00
Director
$0 $0 $0
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 $23,568,387 $23,717,831 $51,299,139 $-149,444
2024 $23,869,297 $23,725,092 $45,293,570 $144,205
2023 $24,432,862 $23,835,632 $45,520,660 $597,230
2022 $22,916,305 $22,916,498 $45,375,797 $-193
2021 $24,660,003 $20,265,361 $47,539,424 $4,394,642
2020 $20,690,597 $20,069,412 $44,383,584 $621,185
2019 $21,214,931 $20,263,915 $43,564,053 $951,016
2018 $21,017,976 $18,252,750 $44,213,750 $2,765,226
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