THE KEY SCHOOL INC (EIN 520701774) - Form 990 Financial Analysis & Trantor Score

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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

1958

Legal Domicile

Principal Officer

MATTHEW NESPOLE

Phone

4102639231

Tax Period

2024-07-01 to 2025-06-30

THE KEY SCHOOL INC, founded in 1958, is a mid-sized nonprofit in the Education sector that reported $23.8M in total revenue in fiscal year 2024. Expenses of $31.8M exceeded revenue, resulting in a 33% operating deficit.

Mission

INDEPENDENT, NON-SECTARIAN, NON-PROFIT, PK - GRADE 12 SCHOOL

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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 $945,547

Program Service Revenue $22,066,660

Investment Income $758,075

Other Revenue $78,643

TOTAL REVENUE $23,848,925

Expense Breakdown

Grants Paid $2,882,668

Salaries & Benefits $15,322,005

Fundraising Expenses $620,137

Program Expenses $18,989,642

Other Expenses $13,561,324

TOTAL EXPENSES $31,765,997

Year-over-Year Comparison

	2024	2023	Change
Revenue	$23,848,925	$23,091,982	+0.0%
Expenses	$31,765,997	$24,845,237	+0.3%
Net Income	$-7,917,072	$-1,753,255	+3.5%

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

311

Volunteers

100

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

$719,502

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN HILBERT	PRESIDENT	1.00	Officer Director	$0	$0	$0
COURTNEY SPANGLER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
COLIN HARRINGTON	TREASURER	1.00	Officer Director	$0	$0	$0
LAKSHMI RAMANI	SECRETARY	1.00	Officer Director	$0	$0	$0
JULITA ANTHONY	BOARD MEMBER	1.00	Director	$0	$0	$0
PETER BICHE	BOARD MEMBER	1.00	Director	$0	$0	$0
MARCH BISHOP	BOARD MEMBER	1.00	Director	$0	$0	$0
BROOKE BOWMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
JULIUS CLARK	BOARD MEMBER	1.00	Director	$0	$0	$0
ELYSE COLGAN	BOARD MEMBER	1.00	Director	$0	$0	$0
LEANDER J FOLEY III	BOARD MEMBER	1.00	Director	$0	$0	$0
JOAN GILLECE	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL GLASS	BOARD MEMBER	1.00	Director	$0	$0	$0
JOSEPH A JANNEY III	BOARD MEMBER	1.00	Director	$0	$0	$0
WESLEY R JONES	BOARD MEMBER	1.00	Director	$0	$0	$0
ELIZABETH LAPCZYNSKI	BOARD MEMBER	1.00	Director	$0	$0	$0
WILLIAM MAPP	BOARD MEMBER	1.00	Director	$0	$0	$0
TROY MAYER	BOARD MEMBER	1.00	Director	$0	$0	$0
MATTHEW MCCABE	BOARD MEMBER	1.00	Director	$0	$0	$0
KATE MCGUIRK-ALLISON	BOARD MEMBER	1.00	Director	$0	$0	$0
WALDO MCMILLAN	BOARD MEMBER	1.00	Director	$0	$0	$0
SONG PAK	BOARD MEMBER	1.00	Director	$0	$0	$0
SHANNON TOWER	BOARD MEMBER	1.00	Director	$0	$0	$0
JOANN WARRICK	BOARD MEMBER	1.00	Director	$0	$0	$0
MATTHEW NESPOLE	HEAD OF SCHOOL	60.00	Officer	$471,016	$41,975	$512,991
CAROLINE EWING	DIRECTOR/FINANCE & OPS	55.00	Officer	$184,280	$22,231	$206,511
KRISTEN ADDISON CATLETT	LOWER SCHOOL HEAD	55.00	Highest	$147,733	$45,254	$192,987
DAVID MAGNUS	MIDDLE SCHOOL HEAD	55.00	Highest	$164,008	$26,678	$190,686
BRIAN MICHAELS	UPPER SCHOOL HEAD	55.00	Highest	$150,569	$68,826	$219,395
THOMAS ROSSINI	DIRECTOR/ENROLLMENT/OUTREACH	55.00	Highest	$132,074	$64,321	$196,395
KIMBERLY TETER	DIRECTOR/ADVANCEMENT	55.00	Highest	$147,775	$275	$148,050

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	$23,848,925	$31,765,997	$70,793,779	$-7,917,072
2024	$23,091,982	$24,845,237	$69,556,589	$-1,753,255
2023	$24,739,248	$23,255,139	$69,557,147	$1,484,109
2022	$23,337,253	$21,646,324	$65,331,950	$1,690,929
2021	$20,232,729	$20,090,492	$66,395,927	$142,237
2020	$19,576,605	$19,974,021	$50,469,593	$-397,416
2019	$19,999,117	$19,141,701	$50,358,713	$857,416
2018	$19,396,943	$18,102,753	$43,189,746	$1,294,190

THE KEY SCHOOL INC