THE WHITBY SCHOOL INCORPORATED

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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

1958

Legal Domicile

Principal Officer

JAY BRIAR

Phone

2038698464

Tax Period

2023-07-01 to 2024-06-30

THE WHITBY SCHOOL INCORPORATED, founded in 1958, is a mid-sized nonprofit in the Education sector that reported $16.7M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $16.1M left a modest 3% surplus.

Mission

WHITBY INSPIRES A PASSION FOR LEARNING AND EMPOWERS EACH CHILD TO TAKE RESPONSIBILITY AS AN OPEN-MINDED PRINCIPLED CITIZEN IN A GLOBAL COMMUNITY.

Program Service Accomplishments

Program 1

Expenses: $13,028,538 Revenue: $15,003,449

WHITBY IS A CO-EDUCATIONAL INDEPENDENT FULL DAY SCHOOL FOR STUDENTS AGED 18 MONTHS THROUGH 8TH GRADE. THE SCHOOL'S ACADEMICALLY FORWARD AND CHALLENGING LEARNING ENVIRONMENT UNIQUELY READIES STUDENTS TO BECOME CURIOUS, CONFIDENT AND CRITICAL-THINKING GLOBAL CITIZENS. BY COMBINING THE MONTESSORI APPROACH AND INTERNATIONAL BACCALAUREATE (IB) PROGRAM, WHITBY ENDOWS EACH STUDENT WITH DISTINCT EDUCATIONAL ADVANTAGES. THE SCHOOL PROGRAM OFFERS A THOROUGH AND PROGRESSIVE CURRICULUM INCLUSIVE OF A DYNAMIC VISUAL AND PERFORMING ARTS PROGRAM AND AN EXTENSIVE CO-CURRICULAR PROGRAM INCLUSIVE OF ATHLETICS, ROBOTICS, AND MODEL UNITED NATIONS. THE SCHOOL INCORPORATES COMMUNITY SERVICE INTO THE CURRICULUM FOR ALL 7TH AND 8TH GRADE STUDENTS.IN THE FY24, WHITBY SERVED 328 STUDENTS, IN THE FOLLOWING GRADES:- 173 IN THE WHITBY MONTESSORI CHILDREN'S HOUSE- 76 IN THE LOWER SCHOOL- 79 IN THE MIDDLE SCHOOL

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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 $1,153,255

Program Service Revenue $15,003,449

Investment Income $533,669

Other Revenue $7,445

TOTAL REVENUE $16,697,818

Expense Breakdown

Grants Paid $867,787

Salaries & Benefits $11,211,436

Fundraising Expenses $746,774

Program Expenses $13,028,538

Other Expenses $4,051,789

TOTAL EXPENSES $16,131,012

Year-over-Year Comparison

	2023	2022	Change
Revenue	$16,697,818	$14,871,675	+0.1%
Expenses	$16,131,012	$14,981,096	+0.1%
Net Income	$566,806	$-109,421	-6.2%

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

118

Volunteers

100

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

$657,882

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HANNAH GRANADE	CHAIR	5.00	Officer Director	$0	$0	$0
ANDREW WIENER	VICE CHAIR	1.00	Officer Director	$0	$0	$0
JULIE RUBENSTEIN	SECRETARY	1.00	Officer Director	$0	$0	$0
TONY MECONIATES	TREASURER	5.00	Officer Director	$0	$0	$0
CHRISTIAN ANTHONY	TRUSTEE	1.00	Director	$0	$0	$0
CHRIS DOHENY	TRUSTEE	1.00	Director	$0	$0	$0
MARY KATE DONATO	TRUSTEE	1.00	Director	$0	$0	$0
ANDREA DOUGLAS MD	TRUSTEE	1.00	Director	$0	$0	$0
JONATHAN DOWNS	TRUSTEE	1.00	Director	$0	$0	$0
JENNIFER GARCIA-ALONSO	TRUSTEE	1.00	Director	$0	$0	$0
LESLEY HATHWAY	TRUSTEE	1.00	Director	$0	$0	$0
ANDREA HJELTE	TRUSTEE	1.00	Director	$0	$0	$0
ANIA JANIS	TRUSTEE	1.00	Director	$0	$0	$0
DEEPA JAVERI	TRUSTEE	1.00	Director	$0	$0	$0
CARL JEAN-PIERRE	TRUSTEE	1.00	Director	$0	$0	$0
SOENKE LEHMITZ	TRUSTEE	1.00	Director	$0	$0	$0
SONIA MALLOY	TRUSTEE	1.00	Director	$0	$0	$0
MICHAEL PAVIA	TRUSTEE	1.00	Director	$0	$0	$0
KAHLIL RAHMAN	TRUSTEE	1.00	Director	$0	$0	$0
NATHAN DENNING	TRUSTEE	1.00	Director	$0	$0	$0
JOHN CREEDEN	HEAD OF SCHOOL	40.00	Officer	$334,880	$123,528	$458,408
ELYSSA SIMINERIO DIRECTOR	OF FINANCE, OPERATIONS AND HR	40.00	Officer	$168,728	$30,746	$199,474
KURTSON PUTNAM	DIRECTOR OF ATHLETICS	40.00	Highest	$153,326	$55,802	$209,128
LOREN DENICOLA	HEAD OF WMCH	40.00	Highest	$144,892	$49,850	$194,742
GLORIA ARPASI	HEAD OF MIDDLE SCHOOL	40.00	Highest	$127,011	$37,736	$164,747
THOMAS COLEMAN	DIRECTOR OF FACILITIES	40.00	Highest	$120,799	$52,855	$173,654
LAURA MCDERMOTT	HEAD OF THE LS	40.00	Highest	$110,850	$3,651	$114,501
SIMONE BECKER FORMER	ASSISTANT HEAD OF SCHOOL	0.00		$213,321	$3,600	$216,921

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	$16,697,818	$16,131,012	$33,716,667	$566,806
2023	$14,871,675	$14,981,096	$33,751,001	$-109,421
2022	$14,194,918	$13,114,712	$30,776,954	$1,080,206
2021	$13,188,724	$11,588,666	$31,145,631	$1,600,058
2020	$12,414,575	$12,624,447	$33,008,418	$-209,872
2019	$15,409,638	$15,298,320	$30,420,358	$111,318
2018	$17,037,316	$16,089,625	$32,688,428	$947,691