MILTON HERSHEY SCHOOL AND SCHOOL TRUST

EIN: 231353340 501(c)(3) Education

HERSHEY, PA

Total Revenue
$1,262,623,043
Total Expenses
$381,246,770
Total Assets
$23,560,448,240
Net Assets
$23,307,119,545
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Financial Trends

Organization Details

Formation Year
1909
Legal Domicile
PA
Principal Officer
PETER GURT
Phone
7175201100
Tax Period
2024-08-01 to 2025-07-31

MILTON HERSHEY SCHOOL AND SCHOOL TRUST, founded in 1909, is a large national nonprofit in the Education sector that reported $1.3B in total revenue in fiscal year 2024. Revenue surged 55% from the prior year, signaling strong growth momentum. The organization ran a surplus of $881.4M, a strong 70% operating margin.

Mission

MAINTAINING COLLECTIONS OF ART, HISTORICAL TREASURES, OR SIMILAR ASSETS THE ORGANIZATION ELECTED, AS PERMITTED UNDER ASC 958-360-25-1 and 958-605-25-19 (FORMERLY SFAS 116), NOT TO REPORT IN ITS REVENUE STATEMENT AND BALANCE SHEET WORKS OF ART, HISTORICAL TREASURES, OR OTHER SIMILAR ASSETS HELD FOR PUBLIC EXHIBITION, EDUCATION OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE. THE DEPARTMENT OF SCHOOL HISTORY AND THE MHS HERITAGE CENTER AT KINDERHAUS PROVIDE FOR THE CARE AND MANAGEMENT OF THE HISTORICAL ASSETS OF THE MILTON HERSHEY SCHOOL COMMUNITY. THE HISTORICAL ASSETS(COLLECTION) CONSIST OF ARCHIVAL RECORDS AND DOCUMENTS, THREE DIMENSIONAL OBJECTS, INTERPRETIVE EXHIBITS, AND HISTORICAL CAMPUS BUILDINGS WHICH HELP TO DOCUMENT THE LIVES AND VALUES OF MILTON AND CATHERINE HERSHEY AS FOUNDERS OF OUR SCHOOL, THE HISTORY AND TRADITIONS OF THE SCHOOL AS AN INSTITUTION, AND THE STORIES OF THE STUDENTS, STAFF, AND ALUMNI WHO MAKE UP THE SCHOOL COMMUNITY. EXCLUDED FROM THIS MANDATE ARE LEGAL BOARD RECORDS, STUDENT RECORDS, AND ALUMNI RECORDS. SCHEDULE D, PART V, LINE 4 TRUST FUNDS AS MANDATED BY MILTON HERSHEY'S DEED OF TRUST, THE TRUST FUNDS ARE USED TO OPERATE THE MILTON HERSHEY SCHOOL AND MANAGE THE SCHOOL TRUST IN PERPETUITY. THE SCHOOL HAS MADE A POSITIVE DIFFERENCE IN THE LIVES OF ITS STUDENTS FOR OVER 110 YEARS. IN ORDER TO CONTINUE TO CHANGE LIVES FOR THE NEXT 110 YEARS AND BEYOND, THE TRUST FUNDS AND OTHER ASSETS OF THE MILTON HERSHEY SCHOOL TRUST (THE "ASSETS") ARE INVESTED FOR THE LONG TERM. DOING SO HELPS TO ENSURE FUNDS ARE AVAILABLE TO MEET CURRENT AND FUTURE OBLIGATIONS OF MILTON HERSHEY SCHOOL. THE BOARD AND THE TRUSTEE, WITH ASSISTANCE FROM THIRD-PARTY INVESTMENT CONSULTANTS, CONTINUALLY REVIEW THE PERFORMANCE OF THE ASSETS AND INVESTMENT DECISIONS. STRICT INVESTMENT GUIDELINES GOVERN A DISCIPLINED PROCESS FOR ASSET ALLOCATION, MANAGER SELECTION AND REVIEW OF MANAGEMENT FEES.

Program Service Accomplishments

Program 1
Expenses: $275,394,785 Revenue: $412,643

PROGRAM SERVICE ACCOMPLISHMENTS MILTON HERSHEY SCHOOL IS COMMITTED TO EDUCATING AND NURTURING THE WHOLE CHILD-ACADEMICALLY, PHYSICALLY, EMOTIONALLY, AND SOCIALLY. THANKS TO THE VISION AND GENEROSITY...

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PROGRAM SERVICE ACCOMPLISHMENTS MILTON HERSHEY SCHOOL IS COMMITTED TO EDUCATING AND NURTURING THE WHOLE CHILD-ACADEMICALLY, PHYSICALLY, EMOTIONALLY, AND SOCIALLY. THANKS TO THE VISION AND GENEROSITY OF MILTON AND CATHERINE HERSHEY, EVERY ENROLLED STUDENT RECEIVES COMPREHENSIVE CARE AND OPPORTUNITY AT NO COST TO THEIR FAMILY. THIS INCLUDES: - HIGH-QUALITY EDUCATION DELIVERED INSTATE-OF-THE-ARTCLASSROOMS WITH SMALL CLASS SIZES, ENSURING PERSONAL ATTENTION AND TAILORED INSTRUCTION. - THE PHYSICAL, MENTAL, DENTAL, AND PSYCHOLOGICAL CARE OF ALL STUDENTS. - NUTRITIOUS MEALS, CLOTHING, AND SAFE YEAR-ROUND HOUSING, CREATING CONSISTENCY AND STABILITY THAT ENABLE STUDENTS TO FOCUS ON LEARNING AND GROWTH. - ROBUST CAREER AND TECHNICAL EDUCATION (CTE) OFFERINGS, COLLEGE-LEVEL COURSEWORK, ARTS AND MUSIC PROGRAMS, ATHLETICS, AGRICULTURAL EDUCATION, AND HANDS-ON LEARNING OPPORTUNITIES IN AUTHENTIC WORK SETTINGS. MANY CHILDRENENROLLINGAT MHS COME FROM ENVIRONMENTS SHAPED BY POVERTY-RELATED STRESSORS. IN THE 2024-25 SCHOOL YEAR, NEW STUDENTS REPORTEDHIGH LEVELSOF ADVERSE CHILDHOOD EXPERIENCES (ACES), INCLUDING: - FORTY-FIVE PERCENT HAD MENTAL HEALTH ISSUES IN THEIR FAMILY - THIRTY-SEVEN PERCENT EXPERIENCED FAMILY DRUG OR ALCOHOL ISSUES - THIRTY-THREE PERCENT HAD AN INCARCERATED FAMILY MEMBER - TWENTY-FIVE PERCENT WITNESSED DOMESTIC VIOLENCE - TWENTY-THREE PERCENT WHO ATTENDED THREE OR MORE SCHOOLS BEFORE ENROLLING - SEVENTEEN PERCENT EXPERIENCED HOMELESSNESS - FOURTEEN PERCENT WHO EXPERIENCED FOOD INSECURITY THESE HARDSHIPS CANIMPACTLEARNING, EMOTIONAL WELL-BEING, AND STABILITY. AT MHS, STUDENTS RECEIVE INDIVIDUALIZED MENTAL HEALTH SUPPORT AND A CONSISTENT, CARING ENVIRONMENT-FOUNDATIONAL ELEMENTS THAT HELP THEM BUILD RESILIENCE AND THRIVE. MHS CONTINUES TO SET A NATIONAL STANDARD FOR WHOLE CHILD CARE. DURING THE 2024-25 SCHOOL YEAR, STUDENTS BENEFITED FROM 21,929 NURSE/PEDIATRICIAN VISITS, 13,127 DENTAL VISITS AND 54,791 DENTAL PROCEDURES, 1,535 VISION EXAMS AND 1,449 PAIRS OF EYEGLASSES, AND 3,137 IMMUNIZATIONS ADMINISTERED. THIS LEVEL OF CARE REMOVES BARRIERS, ALLOWING STUDENTS TO FOCUS ON ACADEMICS, EXTRACURRICULARS, AND HEALTHY PERSONAL DEVELOPMENT. FROM ELEMENTARY THROUGH HIGH SCHOOL, STUDENTS ENGAGE IN AGE-APPROPRIATE CAREER EXPLORATION. HIGH SCHOOL STUDENTS TAKE PART IN INTERNSHIPS, CO-OPS, AND THE OPPORTUNITY TO EARN INDUSTRY-RECOGNIZED CERTIFICATIONS, SUPPORTED BY PARTNERSHIPS WITH LOCAL ORGANIZATIONS INCLUDING HERSHEY ENTERTAINMENT & RESORTS, THE HERSHEY COMPANY, PENN STATE HEALTH, AND CATHERINE HERSHEY SCHOOLS FOR EARLY LEARNING. IN 2024-25, MHS STUDENTS COMPLETED1,149 CAREER EXPOSURE EXPERIENCESAND245 AUTHENTIC WORK EXPERIENCES (INCLUDING INTERNSHIPS, CO-OPS, AND PRE-APPRENTICESHIPS) STUDENTS CAN EXPLORE10 CAREER AND TECHNICAL EDUCATION(CTE)PROGRAM AREASINCLUDINGBUT NOT LIMITED TOLAW,PUBLIC SAFETY,AND SECURITY,COMPUTERTECHNOLOGY, AGRICULTUREANDNATURAL RESOURCES, AND EDUCATIONANDHUMAN SERVICES. ------------------- THIS TUITION-FREE, COMPREHENSIVE PROGRAM, INCLUDING PHYSICAL CARE AS WELL AS EDUCATIONAL PROGRAMMING IN ACADEMIC, HOME LIFE, AND COMMUNITY/CAREER SETTINGS, HAS AN ANNUAL COST OF: TOTAL PROGRAM EXPENSES: 275,394,785 LESS: LINE 22 DEPRECIATION (37,294,415) LINE 2 GRANTS (9,551,378) -------------- TOTAL EXPENSES 228,548,992 TOTAL NUMBER OF STUDENTS: 2,157 GAAP COST PER STUDENT - TOTAL EXPENSES (PART IX LINE 25) $381,246,771 (TOTAL EXPENSES/2,157) = $176,749 TOTAL ANNUAL COST PER STUDENT- SCHOOL AND TRUST TOTAL PROGRAM EXPENSES LESS DEPRECIATION (PART IX LINE 22) AND CES GRANTS (PART IX LINE 2) $228,548,992 (TOTAL EXPENSES)/2,157 (TOTAL NUMBER OF STUDENTS) = $105,957 MHS DIRECT COST PER STUDENT - SCHOOL ONLY FOR A PREMIER BOARDING SCHOOL SUCH AS MILTON HERSHEY SCHOOL, THE ANNUAL INVESTMENT OF MORE THAN $105,000 PER STUDENT INCLUDES HOLISTIC CARE, EDUCATION RESOURCES, GRADUATE PROGRAMS, AND MORE. MILTON HERSHEY SCHOOL ASSUMES THE COST FOR MEDICAL, PSYCHOLOGICAL, DENTAL, ORTHODONTIC, SOCIAL WORK, AND PRESCRIPTION CARE FOR EACH STUDENT. COSTS AT MOST PRIVATE COLLEGES ALSO EXCEED THIS FIGURE. COLLEGES ALSO EXCEED THIS FIGURE. COLLEGES ALSO EXCEED THIS FIGURE. WORK, AND PRESCRIPTION CARE FOR EACH STUDENT. COSTS AT MOST PRIVATE COLLEGES ALSO EXCEED THIS FIGURE.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $46,170
Program Service Revenue $412,643
Investment Income $1,260,084,484
Other Revenue $2,079,746
TOTAL REVENUE $1,262,623,043

Expense Breakdown

Grants Paid $9,551,378
Salaries & Benefits $182,096,981
Fundraising Expenses $0
Program Expenses $275,394,785
Other Expenses $189,598,411
TOTAL EXPENSES $381,246,770

Year-over-Year Comparison

2024 2023 Change
Revenue $1,262,623,043 $814,024,634 +0.6%
Expenses $381,246,770 $370,083,636 +0.0%
Net Income $881,376,273 $443,940,998 +1.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
14
Independent Members
N/A
Employees
2650
Volunteers
294

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
9
$3,715,524
Total Directors
14
$4,236,737
Key Employees
6
$1,751,949
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES KATZMAN BOARD OF MANAGERS 6.0
Director
$0 $95,948 $2,095,008
PETER G GURT PRESIDENT 40.0
Officer
$837,613 $141,123 $978,736
ELLIOTT H ROBINSON VP ADMINISTRATION 53.0
Officer
$403,434 $111,463 $514,897
FREDA F MARTINE SR VP OF EDU AND STUDENT LIFE 55.0
Officer
$385,641 $56,588 $442,229
ANDREW CLARK ESQ VP Legal/Gen Counsel/SECRETARY 55.0
Officer
$332,768 $85,472 $418,240
RENEE HOLLOMAN VP OF HR 55.0
Officer
$295,686 $69,408 $365,094
ANNETTE K COLE GILL HEAD-MIDDLE DIVISION 53.0
Key Emp
$255,134 $83,426 $338,560
WILLIAM H WEBER III HEAD OF DIVISIONS 55.0
Key Emp
$255,662 $77,217 $332,879
SOLEIL CARRION DEL TORO VP FIN/SHARED SRVCS 55.0
Officer
$250,470 $65,781 $316,251
ERIN OSEVALA FIRST DEPUTY GENERAL COUNSEL 43.0
Highest
$240,899 $63,285 $304,184
Erica Weiler-Timmins PHD Dir Psychological Services 50.0
Highest
$219,536 $80,025 $299,561
KRISTINA PAE VP OF COMM AND MARKETING 65.0
Officer
$225,574 $63,522 $289,096
LISA RASHID VP - COMMUNICATIONS 0.0
$285,255 $0 $285,255
STEPHEN VALENTINE SR DIR QUALITY ASSURANCE 45.0
Highest
$206,569 $74,754 $281,323
MICHAEL BERNARDO SR DIRECTOR IT 48.0
Key Emp
$207,779 $72,674 $280,453
JOHN J OSMOLINSKI SR DIR CONSTRUCTION/FAC 50.0
Key Emp
$210,891 $68,823 $279,714
M DIANE KOKEN BOARD OF MANAGERS 5.0
Director
$0 $170,000 $275,000
DENISE L ALSTON DDS DIR DENTAL SERVICES 55.0
Highest
$219,495 $48,936 $268,431
JEFFREY C PERALES HEAD ELEMENTARY DIV UNTIL 8/25 50.0
Key Emp
$189,090 $72,173 $261,263
NATHANIEL MARTIN HEAD OF SENIOR DIVISION 55.0
Key Emp
$194,827 $64,253 $259,080
Cynthia Winters Sr. Dir Program Supt Svc 49.0
Highest
$214,144 $35,411 $249,555
CORDEL ROBBIN-COKER BOARD OF MANAGERS, TREASURER 3.0
Officer Director
$0 $111,157 $229,189
TANYA BAYNHAM FORMER VP GRAD PROG FOR SUCC 0.0
$197,518 $8,213 $205,731
MATTHEW JACOLIK FORMER INTERIM TREASURER 41.0
$0 $34,629 $201,492
Maria Kraus Board of Managers 16.0
Director
$0 $0 $194,412
CAROL DANZ ASSISTANT SECRETARY 41.0
Officer
$0 $43,825 $161,792
JAMES BROWN BOARD OF MANAGERS 6.0
Director
$0 $0 $151,298
JAN L BERGEN BOARD OF MANAGERS 5.0
Director
$0 $0 $151,298
AMY MARSH BOARD OF MANAGERS 8.0
Director
$0 $0 $151,298
DAVID SALTZMAN Board of Managers 3.0
Director
$0 $0 $141,446
Melissa L Fullmore Board of Managers 3.0
Director
$0 $0 $141,298
Michela English Board of Managers 3.0
Director
$0 $0 $141,298
DAN KATZIR BOARD OF MANAGERS 3.0
Director
$0 $0 $141,298
Michelle M Figlar Board of Managers 3.0
Director
$0 $0 $141,298
Harold Singleton Board of Managers 3.0
Director
$0 $0 $141,298
Jason Wolfe Board of Managers 4.0
Director
$0 $0 $141,298
HERSHEY TRUST COMPANY TRUSTEE 0.0
$1,000 $0 $1,000
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 $1,262,623,043 $381,246,770 $23,560,448,240 $881,376,273
2024 $814,024,634 $370,083,636 $23,436,170,448 $443,940,998
2023 $888,151,749 $369,033,710 $24,230,059,234 $519,118,039
2022 $1,457,721,371 $309,172,162 $23,523,788,782 $1,148,549,209
2021 $1,016,985,702 $303,768,377 $21,433,370,695 $713,217,325
2020 $461,991,595 $286,579,217 $17,395,898,597 $175,412,378
2019 $1,441,237,383 $305,866,789 $17,659,493,213 $1,135,370,594
2018 $1,069,365,152 $284,715,426 $14,034,640,162 $784,649,726
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