MILLBROOK 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

1932

Legal Domicile

Principal Officer

JONATHAN DOWNS

Phone

8456778261

Tax Period

2024-07-01 to 2025-06-30

MILLBROOK SCHOOL, founded in 1932, is a mid-sized nonprofit in the Education sector that reported $45.4M in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $10.6M, a strong 23% operating margin.

Mission

IN A COMMUNITY WHERE EVERY STUDENT IS KNOWN AND NEEDED, MILLBROOK PREPARES ITS STUDENTS FOR COLLEGE AND LIVES OF MEANING AND CONSEQUENCE BY INSTILLING THE VALUES OF RESPECT, INTEGRITY, SERVICE, STEWARDSHIP, AND CURIOSITY.

Program Service Accomplishments

Program 1

Expenses: $26,854,438 Revenue: $26,876,197

INDEPENDENT SECONDARY EDUCATION FOR APPROXIMATELY 330 BOARDING AND DAY STUDENTS.

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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 $10,504,769

Program Service Revenue $26,686,901

Investment Income $7,984,896

Other Revenue $255,099

TOTAL REVENUE $45,431,665

Expense Breakdown

Grants Paid $5,190,356

Salaries & Benefits $14,814,219

Fundraising Expenses $2,247,854

Program Expenses $26,854,438

Other Expenses $14,797,145

TOTAL EXPENSES $34,868,086

Year-over-Year Comparison

	2024	2023	Change
Revenue	$45,431,665	$35,684,983	+0.3%
Expenses	$34,868,086	$33,835,040	+0.0%
Net Income	$10,563,579	$1,849,943	+4.7%

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

208

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

$924,357

Total Directors

$601,431

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JONATHAN DOWNS	HEAD OF SCHOOL	40.00	Officer Director	$468,758	$132,673	$601,431
WILLIAM MENARD	CHAIRMAN	1.00	Officer Director	$0	$0	$0
PAUL SOLOMON	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
PETER R CHAPMAN	SECRETARY (UNTIL 05/25)	1.00	Officer Director	$0	$0	$0
PAUL STAFFORD	SECRETARY (AS OF 05/25)	1.00	Officer Director	$0	$0	$0
JOHN TUKE	TREASURER	1.00	Officer Director	$0	$0	$0
J'NELLE N AGEE	TRUSTEE	1.00	Director	$0	$0	$0
SAMANTHA BOARDMAN	TRUSTEE	1.00	Director	$0	$0	$0
FRANCISCO L BORGES	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS BUTTACAVOLLI	TRUSTEE	1.00	Director	$0	$0	$0
STEPHEN CLEMENT III	TRUSTEE (UNTIL 05/25)	1.00	Director	$0	$0	$0
KELLY MACALUSO COLES	TRUSTEE	1.00	Director	$0	$0	$0
TREVOR COLHOUN	TRUSTEE	1.00	Director	$0	$0	$0
MORGAN CONRAD	TRUSTEE	1.00	Director	$0	$0	$0
DARCIE CRYSTAL	TRUSTEE (AS OF 05/25)	1.00	Director	$0	$0	$0
CONSTANTINE DAKOLIAS	TRUSTEE	1.00	Director	$0	$0	$0
KATHLEEN DILL	TRUSTEE (UNTIL 05/25)	1.00	Director	$0	$0	$0
PHILIP DRURY	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER HOLBROOK	TRUSTEE	1.00	Director	$0	$0	$0
THEODORE KARATZ	TRUSTEE	1.00	Director	$0	$0	$0
ALISON J MARSAL	TRUSTEE	1.00	Director	$0	$0	$0
GORDON PENNOYER	TRUSTEE	1.00	Director	$0	$0	$0
STEVE RODGERS	TRUSTEE	1.00	Director	$0	$0	$0
STEVEN ROMICK	TRUSTEE (AS OF 01/25)	1.00	Director	$0	$0	$0
GILBERT P SCHAFER III	TRUSTEE	1.00	Director	$0	$0	$0
LISA SELZ	TRUSTEE	1.00	Director	$0	$0	$0
CHARLOTTE TRACY	TRUSTEE (UNTIL 05/25)	1.00	Director	$0	$0	$0
JAMES VITIELLO	TRUSTEE	1.00	Director	$0	$0	$0
PAUL SIMONS	TRUSTEE	1.00	Director	$0	$0	$0
CAROLINE A WAMSLER	TRUSTEE (UNTIL 05/25)	1.00	Director	$0	$0	$0
JEFFREY SMITH	CFO/COO	40.00	Officer	$234,953	$87,973	$322,926
NANCY STAHL	DIRECTOR OF PHILANTHROPY FOR TREVOR ZOO	40.00	Highest	$202,352	$49,331	$251,683
NATALIE SMITH	DIRECTOR OF ADVANCEMENT	40.00	Highest	$168,400	$10,338	$178,738
JARRATT CLARKE	ASSISTANT HOS FOR ACADEMIC	40.00	Highest	$125,277	$55,201	$180,478
ALAN TOUSIGNANT	DIRECTOR OF THE TREVOR ZOO	40.00	Highest	$123,567	$66,450	$190,017
MEGHAN GROVER	DIRECTOR OF ADMISSION	40.00	Highest	$119,004	$91,243	$210,247

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	$45,431,665	$34,868,086	$184,084,211	$10,563,579
2024	$35,684,983	$33,835,040	$171,991,768	$1,849,943
2023	$33,303,012	$33,017,555	$166,052,069	$285,457
2022	$28,808,206	$30,182,340	$162,624,887	$-1,374,134
2021	$39,791,134	$29,952,439	$164,075,015	$9,838,695
2020	$30,124,599	$25,922,165	$138,607,846	$4,202,434
2019	$28,794,057	$26,267,862	$137,034,789	$2,526,195
2018	$33,011,017	$24,739,510	$134,017,566	$8,271,507