Saint Marys School (EIN 560532314) - 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

1897

Legal Domicile

Principal Officer

Adam Holden

Phone

9194244128

Tax Period

2023-07-01 to 2024-06-30

Saint Marys School, founded in 1897, is a mid-sized nonprofit in the Education sector that reported $23.3M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $21.3M left a modest 8% surplus.

Mission

Saint Marys School in Raleigh North Carolina is an independent college-preparatory girls boarding and day school dedicated to academic excellence and personal achievement for grades 9 - 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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,143,406

Program Service Revenue $14,695,444

Investment Income $2,815,612

Other Revenue $662,206

TOTAL REVENUE $23,316,668

Expense Breakdown

Grants Paid $3,122,538

Salaries & Benefits $9,937,434

Fundraising Expenses $1,242,757

Program Expenses $14,649,644

Other Expenses $8,255,928

TOTAL EXPENSES $21,339,010

Year-over-Year Comparison

	2023	2022	Change
Revenue	$23,316,668	$19,916,469	+0.2%
Expenses	$21,339,010	$20,851,273	+0.0%
Net Income	$1,977,658	$-934,804	-3.1%

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

217

Volunteers

400

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

$591,245

Total Directors

Key Employees

$226,035

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Adam Holden	Head of School	40.00	Officer	$316,502	$103,931	$420,433
Julie Ricciardi	Assoc Head of School - Institutional Advancement	40.00	Key Emp	$191,465	$34,570	$226,035
Michelle Lammon	Assistant Head for Finance and Operations	40.00	Officer	$163,236	$7,576	$170,812
Patricia Sasser	Assistant Head for Academic Affairs	40.00	Highest	$143,647	$53,044	$196,691
Jayme Richards	Director of Technology	40.00	Highest	$120,287	$9,248	$129,535
Adriana Apostol-O'Docharty	Director of Employee Life	40.00	Highest	$112,397	$14,922	$127,319
Lauren Gerber	Director of Annual Fund	40.00	Highest	$109,074	$14,758	$123,832
Andrew Hunter Heffner	Dean of College Counseling	40.00	Highest	$106,496	$47,013	$153,509
Merritt Atkins	Board Chair	4.50	Director	$0	$0	$0
Tiffany Clark	Vice Chair	2.87	Director	$0	$0	$0
Julian Williamson	Secretary	0.94	Director	$0	$0	$0
Jean Redding	Treasurer	1.13	Director	$0	$0	$0
Diane Becton	Trustee	0.75	Director	$0	$0	$0
Martin M Borden	Trustee	1.13	Director	$0	$0	$0
April Browne	Trustee	1.13	Director	$0	$0	$0
Catherine Bryant	Trustee	0.75	Director	$0	$0	$0
Hope Carmichael	Trustee	0.75	Director	$0	$0	$0
Elizabeth Dixon	Trustee	0.75	Director	$0	$0	$0
Ken Howard	Trustee	0.75	Director	$0	$0	$0
Earl Johnson III	Trustee	0.75	Director	$0	$0	$0
Sheila McLamb	Trustee	0.75	Director	$0	$0	$0
Janie Swain Molster	Trustee	0.75	Director	$0	$0	$0
Sallie Sabiston Pelletier	Trustee	0.75	Director	$0	$0	$0
Susan Rankin	Trustee	0.75	Director	$0	$0	$0
Will Rideout	Trustee	0.75	Director	$0	$0	$0
Elizabeth M Roberts	Trustee	1.13	Director	$0	$0	$0
D Ward Russell	Trustee	1.13	Director	$0	$0	$0
Charles A Sanders	Trustee	0.75	Director	$0	$0	$0
Sallie Shuping-Russell	Trustee	0.75	Director	$0	$0	$0
Maura Moylan Sullivan	Trustee	0.75	Director	$0	$0	$0
Melissa Tillman	Trustee	0.75	Director	$0	$0	$0
Heather Clark Warren	Trustee	0.75	Director	$0	$0	$0

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	$23,316,668	$21,339,010	$94,685,810	$1,977,658
2023	$19,916,469	$20,851,273	$90,279,167	$-934,804
2022	$36,030,346	$18,824,083	$84,583,083	$17,206,263
2021	$23,129,284	$18,482,199	$74,590,364	$4,647,085
2020	$21,650,799	$17,569,606	$66,862,084	$4,081,193
2019	$20,268,103	$16,995,148	$61,841,366	$3,272,955
2018	$18,508,376	$16,606,339	$53,571,894	$1,902,037

Saint Marys School