The Madeira 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

1906

Legal Domicile

Principal Officer

Kathleen Chery

Phone

7035568200

Tax Period

2023-07-01 to 2024-06-30

The Madeira School, founded in 1906, is a mid-sized nonprofit in the Education sector that reported $36.8M in total revenue in fiscal year 2023. The organization ran a surplus of $7.6M, a strong 21% operating margin.

Mission

Madeira is a boarding and day college preparatory school for girls in grades nine through twelve. Madeira is a girl's school by design, where every aspect of academic, social, and athletic life is directed toward educating the next generation of young women for leadership.

Program Service Accomplishments

Program 1

Expenses: $23,833,695 Revenue: $24,349,639

Boarding and day school for girls, providing high school education (340 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 (2023)

Revenue Breakdown

Contributions & Grants $2,500,990

Program Service Revenue $24,349,639

Investment Income $9,865,324

Other Revenue $120,626

TOTAL REVENUE $36,836,579

Expense Breakdown

Grants Paid $4,054,584

Salaries & Benefits $12,180,881

Fundraising Expenses $1,461,777

Program Expenses $23,833,695

Other Expenses $12,972,654

TOTAL EXPENSES $29,208,119

Year-over-Year Comparison

	2023	2022	Change
Revenue	$36,836,579	$37,648,678	0.0%
Expenses	$29,208,119	$27,872,783	+0.0%
Net Income	$7,628,460	$9,775,895	-0.2%

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

314

Volunteers

195

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

$1,093,431

Total Directors

Key Employees

$217,812

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Gaither Smoot Deaton	Former President	3.00	Officer Director	$0	$0	$0
Anita Patel Tolani	President	3.00	Officer Director	$0	$0	$0
Joy Johnson	Vice President	3.00	Officer Director	$0	$0	$0
Carrie Southworth Johnson	Vice President	3.00	Officer Director	$0	$0	$0
George Kaczmarskyj	Treasurer	3.00	Officer Director	$0	$0	$0
Lee Carol Cook	Secretary	3.00	Officer Director	$0	$0	$0
Alicia Marian Avery	Trustee	3.00	Director	$0	$0	$0
Andrew Blocher	Trustee	3.00	Director	$0	$0	$0
William Eric Clark	Trustee	3.00	Director	$0	$0	$0
Anne Faircloth	Trustee	3.00	Director	$0	$0	$0
Aileen Hawkins	Trustee	3.00	Director	$0	$0	$0
Ains Hill	Trustee	3.00	Director	$0	$0	$0
Sue Luangkhot Hoppin	Trustee	3.00	Director	$0	$0	$0
Bronwyn Hughes	Trustee	3.00	Director	$0	$0	$0
Katherine Kies	Alumnae Council President	3.00	Director	$0	$0	$0
Emi Kolawole	Trustee	3.00	Director	$0	$0	$0
Avery Swing Miller	Trustee	3.00	Director	$0	$0	$0
Pilar Frank O'Leary	Parents' Assoc. President	3.00	Director	$0	$0	$0
Tracy Savage	Trustee	3.00	Director	$0	$0	$0
Nancy Rodwell Tuohy	Trustee	3.00	Director	$0	$0	$0
Julia Walker	Trustee	3.00	Director	$0	$0	$0
Kate Wisniewski Weir	Trustee	3.00	Director	$0	$0	$0
Alexander Heiberger	Chief Financial & Operations Officer	40.00	Officer	$260,382	$62,729	$323,111
Gretchen Warner	Head of School	40.00	Officer	$223,158	$55,609	$278,767
Christina Kyong	Head of School	40.00	Officer	$190,839	$56,210	$247,049
Scott Cohen	Asst CFO & Comptroller	40.00	Officer	$141,677	$12,751	$154,428
Jessica Battaglia	Asst Secretary & Executive Asst	40.00	Officer	$82,639	$7,437	$90,076
Mary Ann Mahoney	Dean of Academics	40.00	Key Emp	$182,198	$35,614	$217,812
Emily Kasof	Chief Advancement Officer	40.00	Highest	$234,946	$88,899	$323,845
Emily Reynolds	Dir of Enrollment Management	40.00	Highest	$143,876	$49,518	$193,394
Louisa Pollard	Dean of Teaching & Learning	40.00	Highest	$138,820	$33,592	$172,412
Kelli Perkins	Dean of Student Life & Culture	40.00	Highest	$136,761	$81,234	$217,995
Karen Joostema	Dir of Communications & Marketing	40.00	Highest	$127,910	$59,858	$187,768

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	No data	No data	No data	No data
2024	$36,836,579	$29,208,119	$207,960,192	$7,628,460
2023	$37,648,678	$27,872,783	$211,478,796	$9,775,895
2022	$18,391,176	$26,750,803	$200,705,869	$-8,359,627
2021	$36,674,102	$25,260,183	$209,297,473	$11,413,919
2020	$29,698,147	$24,703,812	$187,352,923	$4,994,335
2019	$40,987,835	$25,491,047	$184,794,841	$15,496,788
2018	$31,629,681	$24,235,796	$173,474,346	$7,393,885