TOWER HILL SCHOOL ASSOCIATION

EIN: 510065745 501(c)(3) Education

WILMINGTON, DE

Total Revenue
$38,165,652
Total Expenses
$33,143,835
Total Assets
$134,541,384
Net Assets
$118,923,213
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1919
Legal Domicile
DE
Principal Officer
SARAH BAKER
Phone
3026578360
Tax Period
2024-07-01 to 2025-06-30

TOWER HILL SCHOOL ASSOCIATION, founded in 1919, is a mid-sized nonprofit in the Education sector that reported $38.2M in total revenue in fiscal year 2024. Expenses of $33.1M left a modest 13% surplus.

Mission

TOWER HILL SCHOOL IS A CO-EDUCATIONAL SCHOOL FOR STUDENTS 3 YEARS OLD THROUGH GRADE 12.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,430,830
Program Service Revenue $30,204,961
Investment Income $3,248,311
Other Revenue $281,550
TOTAL REVENUE $38,165,652

Expense Breakdown

Grants Paid $6,118,833
Salaries & Benefits $18,014,399
Fundraising Expenses $1,364,076
Program Expenses $26,197,867
Other Expenses $9,010,603
TOTAL EXPENSES $33,143,835

Year-over-Year Comparison

2024 2023 Change
Revenue $38,165,652 $39,244,791 0.0%
Expenses $33,143,835 $31,579,555 +0.0%
Net Income $5,021,817 $7,665,236 -0.3%
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

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Governance

Voting Members
23
Independent Members
23
Employees
295
Volunteers
298

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
5
$801,057
Total Directors
22
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BEN DU PONT CHAIR 2.00
Officer Director
$0 $0 $0
JOHN M FLYNN SECRETARY 2.00
Officer Director
$0 $0 $0
MARNA WHITTINGTON TREASURER 2.00
Officer Director
$0 $0 $0
SUZANNE ASHLEY TRUSTEE 2.00
Director
$0 $0 $0
KIMBERLY CASSIDY TRUSTEE 2.00
Director
$0 $0 $0
REGIS DE RAMEL TRUSTEE 2.00
Director
$0 $0 $0
ROBERT V DESANTIS TRUSTEE 2.00
Director
$0 $0 $0
JOHN GAVENONIS TRUSTEE 2.00
Director
$0 $0 $0
LAIRD HAYWARD TRUSTEE 2.00
Director
$0 $0 $0
HENRY MELLON TRUSTEE 2.00
Director
$0 $0 $0
CATHERINE L MILLER TRUSTEE 2.00
Director
$0 $0 $0
DAVID NOWLAND TRUSTEE 2.00
Director
$0 $0 $0
LISA A OLSON TRUSTEE 2.00
Director
$0 $0 $0
J MATHIEU PLUMB TRUSTEE 2.00
Director
$0 $0 $0
LOGAN READ TRUSTEE 2.00
Director
$0 $0 $0
SONAL SHEPPARD TRUSTEE 2.00
Director
$0 $0 $0
ISABELLA SPEAKMAN TIMON TRUSTEE 2.00
Director
$0 $0 $0
GENELLE TRADER TRUSTEE 2.00
Director
$0 $0 $0
CARMEN WALLACE TRUSTEE 2.00
Director
$0 $0 $0
GINA WARD TRUSTEE 2.00
Director
$0 $0 $0
MARK BUSSARD TRUSTEE 2.00
Director
$0 $0 $0
RODNEY MORRISON TRUSTEE 2.00
Director
$0 $0 $0
ERIC NORMAN CFO (THRU 9/25) 40.00
Officer
$298,543 $41,266 $339,809
SARAH BAKER HEAD OF SCHOOL 40.00
Officer
$409,255 $51,993 $461,248
KRISTIN MUMFORD DIRECTOR OF ADMISSIONS/ADVANCEMENT 40.00
Highest
$240,865 $51,434 $292,299
LINDSAY ACEVADO DIRECTOR OF COLLEGE COUNSELING 40.00
Highest
$164,486 $20,868 $185,354
AMY BICKHART HEAD OF LOWER SCHOOL 40.00
Highest
$125,127 $38,312 $163,439
MATTHEW TWYMAN DIR OF UPPER SCH ADMIS AND FINL AID 40.00
Highest
$122,286 $9,669 $131,955
JOHN TCHINNIS DIRECTOR OF FACILITIES 40.00
Highest
$116,467 $11,203 $127,670
ANTHONY PISAPIA THRU 7623 FORMER ASSOC HEAD OF SCHOOL 0.00
$130,000 $0 $130,000
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 $38,165,652 $33,143,835 $134,541,384 $5,021,817
2024 No data No data No data No data
2023 $39,938,027 $29,889,324 $116,101,299 $10,048,703
2022 $33,725,781 $28,787,692 $106,938,816 $4,938,089
2021 $48,814,816 $27,796,247 $112,683,577 $21,018,569
2020 $29,330,991 $27,173,959 $91,556,588 $2,157,032
2019 $29,163,708 $27,275,798 $86,306,055 $1,887,910
2018 $25,673,209 $24,820,850 $74,417,037 $852,359
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