MORRISTOWN-BEARD 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

1939

Legal Domicile

Principal Officer

PHILICIA G LEVINSON

Phone

9735393032

Tax Period

2024-07-01 to 2025-06-30

MORRISTOWN-BEARD SCHOOL, founded in 1939, is a mid-sized nonprofit in the Education sector that reported $41.5M in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $37.7M left a modest 9% surplus.

Mission

MORRISTOWN BEARD SCHOOL IS AN EDUCATIONAL COLLEGE PREPARATORY SCHOOL IN GRADES 6 TO 12 LOCATED IN MORRISTOWN, NEW JERSEY.

Program Service Accomplishments

Program 1

Expenses: $28,423,694 Revenue: $34,173,692

MORRISTOWN BEARD SCHOOL IS AN INDEPENDENT, COEDUCATIONAL DAY SCHOOL SERVING STUDENTS FROM MORE THAN 85 COMMUNITIES AND NINE COUNTIES IN NORTHERN NEW JERSEY. THERE ARE 600 STUDENTS IN GRADES 6-12...

MORRISTOWN BEARD SCHOOL IS AN INDEPENDENT, COEDUCATIONAL DAY SCHOOL SERVING STUDENTS FROM MORE THAN 85 COMMUNITIES AND NINE COUNTIES IN NORTHERN NEW JERSEY. THERE ARE 600 STUDENTS IN GRADES 6-12, WITH AN UPPER SCHOOL ENROLLMENT OF 460 AND MIDDLE SCHOOL OF 140. STUDENTS LEAVE MBS EXCEEDINGLY WELL PREPARED FOR THE CHALLENGES OF COLLEGE AND UNIVERSITY STUDIES. THEIR SKILLS IN CRITICAL THINKING, WRITING, AND TIME MANAGEMENT SET THEM APART AMONG ENTERING COLLEGE STUDENTS, WHILE THE QUALITIES OF MIND THEY DEVELOP HERE POSITION THEM FOR SUCCESS LONG AFTER COLLEGE. THESE STRENGTHS FROM COMMUNICATION AND COLLABORATION TO THE ABILITY TO SOLVE COMPLEX, OPEN-ENDED PROBLEMS LEAD NEARLY EVERY LIST OF CAPABILITIES FOR 21ST-CENTURY SUCCESS.

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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 $5,971,532

Program Service Revenue $34,178,857

Investment Income $1,253,763

Other Revenue $51,190

TOTAL REVENUE $41,455,342

Expense Breakdown

Grants Paid $4,576,895

Salaries & Benefits $22,707,463

Fundraising Expenses $1,295,588

Program Expenses $28,423,694

Other Expenses $10,436,763

TOTAL EXPENSES $37,721,121

Year-over-Year Comparison

	2024	2023	Change
Revenue	$41,455,342	$34,693,681	+0.2%
Expenses	$37,721,121	$35,671,137	+0.1%
Net Income	$3,734,221	$-977,456	-4.8%

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

359

Volunteers

120

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

$1,276,666

Total Directors

$1,073,429

Key Employees

$502,781

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELIZABETH MORRISON	HEAD OF SCHOOL THRU JUNE 2025	55.00	Officer Director	$500,064	$573,365	$1,073,429
RAVI CHOPRA	CO-PRESIDENT	0.50	Officer Director	$0	$0	$0
CARISA STRAUSS	CO-PRESIDENT	0.50	Officer Director	$0	$0	$0
DARNELL PARKER	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
LEE KELLOGG SADRIAN	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
MICHAEL MORAIS	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
R CARTWRIGHT WALLACE	TREASURER	0.50	Officer Director	$0	$0	$0
PAMELA NELSON-DAVIDSON	SECRETARY	0.50	Officer Director	$0	$0	$0
LISSA FERRELL	TRUSTEE	0.50	Director	$0	$0	$0
PETER FIVERSON	TRUSTEE	0.50	Director	$0	$0	$0
SHANAE GREEN	TRUSTEE	0.50	Director	$0	$0	$0
DAVID MCMANUS	TRUSTEE	0.50	Director	$0	$0	$0
ALEX RANGER	TRUSTEE	0.50	Director	$0	$0	$0
BRUCE SANFORD	TRUSTEE	0.50	Director	$0	$0	$0
LARRY SHERMAN	TRUSTEE	0.50	Director	$0	$0	$0
MARGARET SMITH	TRUSTEE	0.50	Director	$0	$0	$0
ERIC SOOS	TRUSTEE	0.50	Director	$0	$0	$0
SCOTT TANNEN	TRUSTEE	0.50	Director	$0	$0	$0
RICHARD KASMIN	CFO, THRU 8/14/24	55.00	Officer	$112,080	$9,559	$121,639
CHANCE VAN SCIVER	CFO	55.00	Officer	$77,511	$4,087	$81,598
ELIZABETH PATTERSON	DIRECTOR OF ADVANCEMENT	55.00	Key Emp	$236,847	$36,152	$272,999
BONI LUNA	DEAN OF FACULTY	55.00	Key Emp	$197,660	$32,122	$229,782
RYAN LIESE	HEAD OF UPPER SCHOOL	55.00	Highest	$192,992	$69,061	$262,053
ALONDA CASSELLE	HEAD OF MIDDLE SCHOOL	55.00	Highest	$162,830	$69,793	$232,623
ROBERT MITCHELL	DIRECTOR OF ADMISSION	55.00	Highest	$161,026	$19,148	$180,174
PAUL FISHER	TECHNOLOGY TEACHER	55.00	Highest	$151,616	$44,076	$195,692
KLARISSA KAROSEN	DIRECTOR OF DEI	55.00	Highest	$148,740	$103,354	$252,094

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	$41,455,342	$37,721,121	$84,170,096	$3,734,221
2024	$34,693,681	$35,671,137	$76,540,014	$-977,456
2023	$34,984,658	$34,022,511	$73,085,809	$962,147
2022	$35,071,625	$32,531,347	$71,175,267	$2,540,278
2021	$32,953,028	$30,613,612	$74,759,879	$2,339,416
2020	$29,916,997	$29,833,282	$71,594,413	$83,715
2019	$32,033,926	$29,546,969	$72,886,502	$2,486,957