HAVERFORD 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

1916

Legal Domicile

Principal Officer

PETER MAAS

Phone

4844172722

Tax Period

2024-07-01 to 2025-06-30

HAVERFORD SCHOOL, founded in 1916, is a mid-sized nonprofit in the Education sector that reported $55.8M in total revenue in fiscal year 2024. Expenses of $51.7M left a modest 7% surplus.

Mission

THE HAVERFORD SCHOOL, A NON-SECTARIAN COLLEGE PREPARATORY SCHOOL FOR JUNIOR KINDERGARTEN THROUGH GRADE TWELVE, PROVIDES A SUPERIOR LIBERAL ARTS EDUCATION FOR QUALIFIED BOYS OF DIFFERING BACKGROUNDS. WE ARE COMMITTED TO DEVELOPING THE FULL INTELLECTUAL, ARTISTIC, ATHLETIC AND MORAL POTENTIAL IN EACH BOY, AND WE AIM TO GRADUATE YOUNG MEN WITH STRONG CHARACTER WHO POSSESS A PASSION FOR LEARNING AND PROBLEM SOLVING.

Program Service Accomplishments

Program 1

Expenses: $41,794,929 Revenue: $40,974,980

PREPARING YOUNG MEN ACADEMICALLY FOR THE FUTURE IS UNDOUBTEDLY ONE OF THE MOST VALUABLE BENEFITS OF A HAVERFORD EDUCATION. BUT MORE IMPORTANTLY, WE GIVE BOYS A FOUNDATION OF SKILLS THEY NEED TO LEAD A FULFILLING AND MEANINGFUL LIFE. AS OUR STATEMENT OF VISION READS, "THE HAVERFORD FACULTY PREPARES EACH BOY TO BE FUTURE-READY THROUGH DEVELOPING HIS CHARACTER AND HIS EMOTIONAL INTELLIGENCE, AS WELL AS HIS ACADEMIC, ARTISTIC, AND ATHLETIC TALENTS."THE HAVERFORD SCHOOL INCURS DIRECT INSTRUCTIONAL EXPENSES IN PRE-KINDERGARTEN THROUGH GRADE 12, ATHLETIC PROGRAMS, AND OTHER EXTRA-CURRICULAR ACTIVITY EXPENSES FOR APPROXIMATELY 950 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 $11,115,553

Program Service Revenue $40,974,980

Investment Income $1,135,431

Other Revenue $2,592,802

TOTAL REVENUE $55,818,766

Expense Breakdown

Grants Paid $10,103,617

Salaries & Benefits $24,009,780

Fundraising Expenses $3,868,909

Program Expenses $41,794,929

Other Expenses $17,612,852

TOTAL EXPENSES $51,726,249

Year-over-Year Comparison

	2024	2023	Change
Revenue	$55,818,766	$55,454,056	+0.0%
Expenses	$51,726,249	$51,057,396	+0.0%
Net Income	$4,092,517	$4,396,660	-0.1%

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

348

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

$959,157

Total Directors

$648,396

Key Employees

$1,552,395

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TYLER CASERTANO	HEADMASTER	40.00	Officer Director	$556,392	$92,004	$648,396
MAURICE D GLAVIN	CHAIR	7.00	Officer Director	$0	$0	$0
GEORGE B LEMMON JR	VICE CHAIR	0.50	Officer Director	$0	$0	$0
MICHAEL J PURCELL	TREASURER	0.50	Officer Director	$0	$0	$0
PETER W HENNESSEY	SECRETARY	0.50	Officer Director	$0	$0	$0
JOHN A BARTHOLDSON	TRUSTEE	0.50	Director	$0	$0	$0
KENNETH M BATE	TRUSTEE	0.50	Director	$0	$0	$0
DEA T BELAZI	TRUSTEE	0.50	Director	$0	$0	$0
AMY C BRIDDELL	TRUSTEE	0.50	Director	$0	$0	$0
WILLIAM T CADDELL JR	TRUSTEE	0.50	Director	$0	$0	$0
DANIEL R CLARK	TRUSTEE	0.50	Director	$0	$0	$0
WILLIAM G COSTIN IV	TRUSTEE	0.50	Director	$0	$0	$0
HANS R DAVIES	TRUSTEE	0.50	Director	$0	$0	$0
AMBER V DIXON	TRUSTEE	0.50	Director	$0	$0	$0
CHRISTOPHER C DODSON	TRUSTEE	0.50	Director	$0	$0	$0
MICHAEL R DUBIN	TRUSTEE	0.50	Director	$0	$0	$0
THADDEUS J FORTIN	TRUSTEE	0.50	Director	$0	$0	$0
SAMUEL M V HAMILTON III	TRUSTEE	0.50	Director	$0	$0	$0
QUINCY B MCCOY	TRUSTEE	0.50	Director	$0	$0	$0
WADE L MCDEVITT	TRUSTEE	0.50	Director	$0	$0	$0
ALANA M MURPHY	TRUSTEE	0.50	Director	$0	$0	$0
MARTHA E ORTIZ	TRUSTEE	0.50	Director	$0	$0	$0
G BART SMITH	TRUSTEE	0.50	Director	$0	$0	$0
FITZ DANIEL T TEPPER	TRUSTEE	0.50	Director	$0	$0	$0
EDWARD M TRUSTY JR	TRUSTEE	0.50	Director	$0	$0	$0
MCCARTNEY K WILKINS	TRUSTEE	0.50	Director	$0	$0	$0
ROLAND YANG	TRUSTEE	0.50	Director	$0	$0	$0
IRIS H DIBERNARDO	TRUSTEE	0.50	Director	$0	$0	$0
NAFIS T SMITH	TRUSTEE	0.50	Director	$0	$0	$0
PETER MAAS	CFO	40.00	Officer	$265,381	$45,380	$310,761
JAMES THORBURN	ASSISTANT HEADMASTER	40.00	Key Emp	$323,520	$34,499	$358,019
JAMES J GREYTOK JR	HEAD OF MIDDLE SCHOOL	40.00	Key Emp	$222,028	$37,868	$259,896
MICHAEL MURPHY	ATHLETIC DIRECTOR	40.00	Key Emp	$205,877	$37,285	$243,162
PAM GREENBLATT	ASST. HEAD OF SCHOOL FOR ACADEMICS	40.00	Key Emp	$189,118	$71,851	$260,969
BOBBY CPIN	DIRECTOR OF DEVELOPMENT	40.00	Key Emp	$241,494	$12,497	$253,991
MARK FIFER	UPPER SCHOOL HEAD	40.00	Key Emp	$152,714	$23,644	$176,358
GEORGE WOOD	SENIOR DIRECTOR OF MAJOR GIFTS	40.00	Highest	$169,789	$28,288	$198,077
MICHELE TODD	DIR. OF HUMAN RESOURCES	40.00	Highest	$143,521	$33,180	$176,701
DONTA EVANS	DIR. OF ADM. & ENROLLMENT MGMT.	40.00	Highest	$131,305	$78,698	$210,003
MARY-HELEN LEWIS	DIRECTOR OF PLANNED GIVING	40.00	Highest	$137,280	$46,582	$183,862
CHRISTOPHER FOX	ART DEPARTMENT CHAIR	40.00	Highest	$135,168	$31,739	$166,907

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	$55,818,766	$51,726,249	$251,179,343	$4,092,517
2024	$55,454,056	$51,057,396	$234,473,219	$4,396,660
2023	$53,332,450	$48,227,077	$228,580,905	$5,105,373
2022	$54,065,893	$44,512,352	$222,008,012	$9,553,541
2021	$63,658,264	$42,541,373	$200,207,536	$21,116,891
2020	$46,915,262	$40,502,820	$180,014,014	$6,412,442
2019	$47,892,227	$40,601,398	$173,345,857	$7,290,829
2018	$47,794,393	$40,409,092	$162,547,559	$7,385,301