The Principia Corporation

EIN: 430652667 501(c)(3) Education

St Louis, MO

Total Revenue
$158,233,307
Total Expenses
$113,512,077
Total Assets
$1,286,700,453
Net Assets
$1,231,929,661
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Financial Trends

Organization Details

Formation Year
1912
Legal Domicile
MO
Phone
3144342100
Tax Period
2024-07-01 to 2025-06-30

The Principia Corporation, founded in 1912, is a major nonprofit in the Education sector that reported $158.2M in total revenue in fiscal year 2024. Revenue surged 42% from the prior year, signaling strong growth momentum. The organization ran a surplus of $44.7M, a strong 28% operating margin.

Mission

Principia's primary purpose is to serve the cause of Christian Science as an independent educational institution, providing pre-k - 12th grade education on its campus in St. Louis County, Missouri, and college education on its campus in Elsah, Illinois.

Program Service Accomplishments

Program 1
Expenses: $44,923,725 Revenue: $20,788,788

INSTRUCTION: IN 1897, MARY KIMBALL MORGAN, A CHRISTIAN SCIENTIST, BEGAN HOME-SCHOOLING HER TWO SONS BECAUSE SHE BELIEVED SHE COULD GIVE THEM A FULLER EDUCATION THAN WHAT WAS BEING OFFERED IN THE...

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INSTRUCTION: IN 1897, MARY KIMBALL MORGAN, A CHRISTIAN SCIENTIST, BEGAN HOME-SCHOOLING HER TWO SONS BECAUSE SHE BELIEVED SHE COULD GIVE THEM A FULLER EDUCATION THAN WHAT WAS BEING OFFERED IN THE PUBLIC SCHOOLS. GRADUALLY, IT BECAME APPARENT TO MRS. MORGAN THAT THE ESTABLISHMENT OF A SCHOOL WAS NEEDED. THE NAME "PRINCIPIA", MEANING "FIRST PRINCIPLES," WAS CHOSEN FOR THE SCHOOL MRS. MORGAN ESTABLISHED IN 1898. PRINCIPIA'S PRIMARY PURPOSE IS TO SERVE THE CAUSE OF CHRISTIAN SCIENCE AS AN EDUCATIONAL INSTITUTION - NOT THROUGH TEACHING THE THEOLOGY OF CHRISTIAN SCIENCE, BUT THROUGH PROVIDING PROGRAMS WHICH WILL ALLOW ITS STUDENTS TO GROW INTELLECTUALLY, ATHLETICALLY, SOCIALLY, MORALLY, AND SPIRITUALLY WITH THE SUPPORT AND EXAMPLE OF FELLOW STUDENTS, FACULTY, AND STAFF. PRINCIPIA STRIVES TO TRAIN ITS STUDENTS "TO THINK CLEARLY, VIGOROUSLY, FEARLESSLY, TOLERANTLY, UNSELFISHLY." TEACHING AT PRINCIPIA ALSO "EMPHASIZES THE POINT OF VIEW THAT EDUCATION CARRIES WITH IT THE OBLIGATION TO USE TECHNICAL SKILLS AND INTELLECTUAL ATTAINMENTS FOR THE BETTERMENT OF HUMANITY." (Continued on Schedule O)

Program 2
Expenses: $16,111,418 Revenue: $7,495,500

AUXILIARY ENTERPRISES: FOOD SERVICES ARE PROVIDED TO STUDENTS, FACULTY, AND STAFF THROUGH TWO FULL-SERVICE DINING ROOMS, PLUS A STUDENT GRILL. DORMITORIES PROVIDE HOUSING AT PRINCIPIA COLLEGE. The...

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AUXILIARY ENTERPRISES: FOOD SERVICES ARE PROVIDED TO STUDENTS, FACULTY, AND STAFF THROUGH TWO FULL-SERVICE DINING ROOMS, PLUS A STUDENT GRILL. DORMITORIES PROVIDE HOUSING AT PRINCIPIA COLLEGE. The St. Louis campus accepts both day and boarding students. STUDENTS MAY PURCHASE A VARIETY OF SCHOOL SUPPLIES, BOOKS, CLOTHING, AND PERSONAL ITEMS AT EITHER THE COLLEGE OR SCHOOL BOOKSTORE.

Program 3
Expenses: $15,042,600 Revenue: $0

STUDENT SERVICES: INCLUDES ADMISSIONS, REGISTRAR, COLLEGE ATHLETICS, OFFICE OF STUDENT LIFE, AND HEALTH SERVICES. PRINCIPIA COLLEGE IS A MEMBER OF THE ST. LOUIS INTERCOLLEGIATE ATHLETIC CONFERENCE...

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STUDENT SERVICES: INCLUDES ADMISSIONS, REGISTRAR, COLLEGE ATHLETICS, OFFICE OF STUDENT LIFE, AND HEALTH SERVICES. PRINCIPIA COLLEGE IS A MEMBER OF THE ST. LOUIS INTERCOLLEGIATE ATHLETIC CONFERENCE (SLIAC), WHICH INCLUDES 10 COLLEGES LOCATED IN KENTUCKY, ILLINOIS, IOWA, AND MISSOURI. PRINCIPIA TEAMS COMPETE IN 6 MEN'S AND 7 WOMEN'S SPORTS. NO ATHLETIC SCHOLARSHIPS ARE OFFERED BY ANY MEMBER OF SLIAC. PRINCIPIA COLLEGE MAINTAINS SEVERAL ATHLETIC FACILITIES, INCLUDING AN ATHLETIC CENTER, NATATORIUM, FIELD HOUSE, INDOOR TENNIS CENTER, 4 OUTDOOR FIELDS, OUTDOOR TENNIS COURTS, AND RUNNING TRAILS. (Continued on Schedule O)

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $36,434,000
Program Service Revenue $28,284,288
Investment Income $90,594,125
Other Revenue $2,920,894
TOTAL REVENUE $158,233,307

Expense Breakdown

Grants Paid $16,734,657
Salaries & Benefits $52,673,413
Fundraising Expenses $4,856,710
Program Expenses $84,627,292
Other Expenses $44,092,257
TOTAL EXPENSES $113,512,077

Year-over-Year Comparison

2024 2023 Change
Revenue $158,233,307 $111,330,444 +0.4%
Expenses $113,512,077 $108,287,496 +0.0%
Net Income $44,721,230 $3,042,948 +13.7%
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
10
Employees
1160
Volunteers
413

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
16
$2,571,867
Total Directors
16
$9,000
Key Employees
4
$892,472
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
D Stephen DeWindt VICE CHAIR (thru June 7, 2025) 5.0
Officer Director
$0 $0 $0
David Walters Treasurer 5.0
Officer Director
$0 $0 $0
Kristin Jamerson Board Chair (begin June 8, 2025) 10.0
Officer Director
$0 $0 $0
Liz Crow TRUSTEE / EXEC COMM MEMBER-AT-LARGE 5.0
Officer Director
$0 $0 $0
Patricia Sarkisian Secretary 5.0
Officer Director
$0 $0 $0
Scott L Schneberger BOARD CHAIR (thru June 7, 2025), TRUSTEE 10.0
Officer Director
$0 $0 $0
Todd Boyman VICE CHAIR (Begin June 8, 2025) 5.0
Officer Director
$0 $0 $0
Ann Austin Trustee (begin June 2025) 5.0
Director
$0 $0 $0
Chestnut Booth Trustee 5.0
Director
$0 $0 $0
Elisabeth Brinton Trustee 5.0
Director
$0 $0 $0
Gavin Campbell Trustee 5.0
Director
$0 $0 $0
Ian Forber-Pratt Trustee 5.0
Director
$0 $0 $0
Inez Maubane Jones Trustee 5.0
Director
$0 $0 $0
Lisle S Stigler Trustee 5.0
Director
$0 $0 $0
Michael Distel Trustee (through Aug 16, 2024) 5.0
Director
$0 $0 $0
Terry McNabb Trustee 5.0
Director
$9,000 $0 $9,000
Barbara Blackwell Chief Executive 40.0
Officer
$306,539 $129,871 $436,410
Daniel Norton College President 40.0
Officer
$268,483 $83,561 $352,044
Donald D Miller Assistant Secretary/ Assist. CFO 40.0
Officer
$194,245 $8,635 $202,880
Edward McCarty Assist. Secretary/Director of Principal Gifts 40.0
Officer
$149,166 $33,030 $182,196
Hans Fredrikson Chief Investment Officer 40.0
Officer
$300,156 $23,547 $323,703
Julie Holser Assistant Secretary/Controller 40.0
Officer
$140,327 $32,811 $173,138
Lee Barron Assistant Secretary/General Counsel 40.0
Officer
$231,732 $30,455 $262,187
Merry Sorrells Head of School 40.0
Officer
$282,650 $70,119 $352,769
Thomas Nickell CFO/COO 40.0
Officer
$269,134 $17,406 $286,540
Joy Fowler College Chief Operations Officer (thru March 1, 2025) 40.0
Key Emp
$153,806 $39,960 $193,766
Samantha Dry Principal, Upper School and Middle School 40.0
Key Emp
$197,152 $26,588 $223,740
Sarah Neale Rand Chief Advancement, Marketing and Communications Officer 40.0
Key Emp
$196,128 $59,389 $255,517
Tamara Gavaletz Director of School Business Ops 40.0
Key Emp
$162,182 $57,267 $219,449
Brian Roberts Assoc Dean of Academic Assessment & Curriculum 40.0
Highest
$152,802 $31,707 $184,509
Elise Crow Legal Advisor/Attorney 40.0
Highest
$149,127 $60,849 $209,976
Jennifer Silver Chief Human Resources Officer 40.0
Highest
$155,999 $70,935 $226,934
Steven Stock Director of Facilities 40.0
Highest
$150,143 $16,504 $166,647
Terry Grigsby Assistant Head of School for Enrollment Management 40.0
Highest
$166,336 $30,248 $196,584
Robert MacDonald Former Trustee 0.0
$52,100 $0 $52,100
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 $158,233,307 $113,512,077 $1,286,700,453 $44,721,230
2024 No data No data No data No data
2023 $85,500,016 $101,062,746 $1,138,240,701 $-15,562,730
2022 $256,921,200 $92,064,990 $1,121,774,918 $164,856,210
2021 $108,938,341 $91,217,651 $1,062,983,927 $17,720,690
2020 $93,673,823 $92,306,242 $874,970,222 $1,367,581
2019 $101,259,657 $93,589,803 $878,107,421 $7,669,854
2018 $89,880,630 $94,344,488 $874,178,798 $-4,463,858
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