Morristown-Beard School

Analysis

Morristown-Beard School is a registered charity in United States, based in Morristown, NJ. It received its IRS tax-exemption ruling in September 1943, 83 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Morristown-Beard School reported income of $35.0m and spending of $34.0m, spending 97% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $29.9m to $35.0m (+17%), an average of +5.4% a year. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Morristown-Beard School sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NJ. Charities of a similar size with the same main cause include NC Student Aid Association Inc ($34.9m), Hathaway Brown School ($35.0m) and University at Buffalo Surgeons Inc ($34.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.5% and program service revenue 90% of the total. Compensation of current officers, directors and key employees was $1.3m (3.8% of expenses). Other salaries and wages came to $13.8m. At year end it held assets of $73.1m against liabilities of $5.4m, net assets of $67.7m. It reported 349 employees.