Civic Intelligence

Town School for Boys

EIN 94-1170412 • 501(c)3 • San Francisco, CA

Profile

At town school,learning is prized, love of school is essential,& boyhood is celebrated.town values being a diverse community that nurtures integrity, sensitivity & respect in its boys,& prepares them to become productive & contributing members of an ever-changing world.

2750 Jackson StreetSan Francisco, CA 94115

www.townschool.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

49th percentile

0.26x

Higher debt load relative to assets than 49% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Liabilities / Revenue

69th percentile

0.86x

Higher debt load relative to revenue than 69% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Net Margin

78th percentile

21%

Higher net margin than 78% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

68th percentile

11%

Faster asset growth than 68% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Revenue Growth

82nd percentile

28%

Faster revenue growth than 82% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Assets

Up

$117,431,380

Up $11,494,898 (+11%) from 2024

Liabilities

Up

$30,208,596

Up $997,971 (+3.4%) from 2024

Net Assets

Up

$87,222,784

Up $10,496,927 (+14%) from 2024

Revenue

Up

$35,111,965

Up $7,590,503 (+28%) from 2024

Expenses

Up

$27,606,163

Up $1,594,028 (+6.1%) from 2024

Net Income

Up

$7,505,802

Up $5,996,475 (+397%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150M$100M$50M$0Assets 2011: $37,239,047Liabilities 2011: $3,943,616Net Assets 2011: $33,295,4312011Assets 2012: $37,809,775Liabilities 2012: $3,021,411Net Assets 2012: $34,788,3642012Assets 2013: $43,525,421Liabilities 2013: $3,761,556Net Assets 2013: $39,763,8652013Assets 2014: $57,502,762Liabilities 2014: $13,524,146Net Assets 2014: $43,978,6162014Assets 2015: $67,242,628Liabilities 2015: $19,876,162Net Assets 2015: $47,366,4662015Assets 2016: $65,338,550Liabilities 2016: $16,450,742Net Assets 2016: $48,887,8082016Assets 2017: $68,065,273Liabilities 2017: $15,044,421Net Assets 2017: $53,020,8522017Assets 2018: $72,308,262Liabilities 2018: $16,179,237Net Assets 2018: $56,129,0252018Assets 2019: $71,980,919Liabilities 2019: $13,053,628Net Assets 2019: $58,927,2912019Assets 2020: $81,301,829Liabilities 2020: $12,479,593Net Assets 2020: $68,822,2362020Assets 2021: $88,036,345Liabilities 2021: $12,748,468Net Assets 2021: $75,287,8772021Assets 2022: $94,398,193Liabilities 2022: $26,873,577Net Assets 2022: $67,524,6162022Assets 2023: $99,962,858Liabilities 2023: $28,007,930Net Assets 2023: $71,954,9282023Assets 2024: $105,936,482Liabilities 2024: $29,210,625Net Assets 2024: $76,725,8572024Assets 2025: $117,431,380Liabilities 2025: $30,208,596Net Assets 2025: $87,222,7842025

Highlighted filing

2025

Assets$117,431,380
Liabilities$30,208,596
Net Assets$87,222,784

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$40M$30M$20M$10M$0-$10MRevenue 2011: $13,079,082Expenses 2011: $12,845,559Net Income 2011: $233,5232011Revenue 2012: $16,039,991Expenses 2012: $13,545,248Net Income 2012: $2,494,7432012Expenses 2013: $14,472,7332013Revenue 2014: $16,992,077Expenses 2014: $15,336,043Net Income 2014: $1,656,0342014Revenue 2015: $19,929,376Expenses 2015: $16,173,753Net Income 2015: $3,755,6232015Revenue 2016: $18,923,914Expenses 2016: $17,142,410Net Income 2016: $1,781,5042016Revenue 2017: $20,892,116Expenses 2017: $16,759,072Net Income 2017: $4,133,0442017Revenue 2018: $19,974,085Expenses 2018: $17,463,913Net Income 2018: $2,510,1722018Revenue 2019: $20,668,600Expenses 2019: $18,779,183Net Income 2019: $1,889,4172019Revenue 2020: $28,736,475Expenses 2020: $19,321,368Net Income 2020: $9,415,1072020Revenue 2021: $22,685,215Expenses 2021: $21,306,035Net Income 2021: $1,379,1802021Revenue 2022: $22,080,958Expenses 2022: $22,396,078Net Income 2022: -$315,1202022Revenue 2023: $26,679,457Expenses 2023: $24,916,597Net Income 2023: $1,762,8602023Revenue 2024: $27,521,462Expenses 2024: $26,012,135Net Income 2024: $1,509,3272024Revenue 2025: $35,111,965Expenses 2025: $27,606,163Net Income 2025: $7,505,8022025

Highlighted filing

2025

Revenue$35,111,965
Expenses$27,606,163
Net Income$7,505,802

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$117$30.2$87.2$35.1$27.6$7.51
2024Detailed filing. Detailed filing data is available for this year.$106$29.2$76.7$27.5$26.0$1.51
2023Detailed filing. Detailed filing data is available for this year.$100.0$28.0$72.0$26.7$24.9$1.76
2022Detailed filing. Detailed filing data is available for this year.$94.4$26.9$67.5$22.1$22.4$0.32
2021Detailed filing. Detailed filing data is available for this year.$88.0$12.7$75.3$22.7$21.3$1.38
2020Detailed filing. Detailed filing data is available for this year.$81.3$12.5$68.8$28.7$19.3$9.42
2019Detailed filing. Detailed filing data is available for this year.$72.0$13.1$58.9$20.7$18.8$1.89
2018Detailed filing. Detailed filing data is available for this year.$72.3$16.2$56.1$20.0$17.5$2.51
2017Detailed filing. Detailed filing data is available for this year.$68.1$15.0$53.0$20.9$16.8$4.13
2016Detailed filing. Detailed filing data is available for this year.$65.3$16.5$48.9$18.9$17.1$1.78
2015Detailed filing. Detailed filing data is available for this year.$67.2$19.9$47.4$19.9$16.2$3.76
2014Summary only. Only limited summary data is available for this year.$57.5$13.5$44.0$17.0$15.3$1.66
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$43.5$3.76$39.8$14.5
2012Summary only. Only limited summary data is available for this year.$37.8$3.02$34.8$16.0$13.5$2.49
2011Summary only. Only limited summary data is available for this year.$37.2$3.94$33.3$13.1$12.8$0.23
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Nov 5, 2025
Return Version
2024v5.2
Gross Receipts
$41,904,294
Mission and Program Overview

Mission

At town school,learning is prized, love of school is essential,& boyhood is celebrated.town values being a diverse community that nurtures integrity, sensitivity & respect in its boys,& prepares them to become productive & contributing members of an ever-changing world.

At town school, learning is prized, love of school is essential, and boyhood is celebrated.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$42,223,541$55,122,580▲ $12,899,039
Land, Buildings, and Equipment, Net$39,189,831$38,249,464▼ $940,367
Accounts Receivable$15,586,567$16,609,628▲ $1,023,061
Pledges and Grants Receivable$3,529,363$2,974,832▼ $554,531
Cash and Non-Interest-Bearing Accounts$3,695,772$2,757,757▼ $938,015
Other Notes and Loans Receivable, Net$1,112,464$1,096,975▼ $15,489
Prepaid Expenses and Deferred Charges$339,420$374,096▲ $34,676
Total Assets$105,936,482$117,431,380▲ $11,494,898
Other Assets Total$259,524$246,048▼ $13,476
Liabilities
Deferred Revenue$17,544,380$18,342,512▲ $798,132
Tax Exempt Bond Liabilities$9,891,794$9,895,955▲ $4,161
Accounts Payable and Accrued Expenses$1,525,737$1,735,233▲ $209,496
Other Liabilities$248,714$234,896▼ $13,818
Total Liabilities$29,210,625$30,208,596▲ $997,971
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$45,235,672$45,696,609▲ $460,937
Net Assets With Donor Restrictions$31,490,185$41,526,175▲ $10,035,990
Total Net Assets Fund Balance$76,725,857$87,222,784▲ $10,496,927
Total Liabilities and Net Assets / Fund Balance$105,936,482$117,431,380▲ $11,494,898

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$34,761,862$19,806,153$54,568,015
Equipment$3,447,602$3,747,995$7,195,597
Land$40,000-$40,000
Other Securities$11,066,922--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$23,434,893$517,336▲ $4,035,806$933,755$27,054,280
2023$20,956,507$755,000▲ $2,681,014$957,628$23,434,893
2022$19,902,150$5,500▲ $2,046,870$998,013$20,956,507
2021$24,407,709$100,000▼ $3,883,843$721,716$19,902,150
2020$19,600,560-▲ $5,351,344$544,195$24,407,709
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lorri Hamilton DurbinHead of SchoolFT$634,196$66,343$700,539
Kary NortonChief Financial OfficerFT$282,588$47,082$329,670
Margaret LaurentHead of Lower SchoolFT$226,103$40,097$266,200
Corbett SimonsDirector of Teaching, Learning & Innov.FT$230,748$32,319$263,067
Talib MandanHead of Upper School-ended 12/2024FT$227,178$32,318$259,496
Mona ChangDirector of AdvancementFT$215,650$32,964$248,614
Jennifer LiuDirector of Teacher Dev. & Strat. Init.FT$185,870$36,327$222,197
Curtis GoehringDirector of AthleticsFT$188,770$33,108$221,878
Reginald LovePhysical Education TeacherFT$194,294$27,537$221,831
Sarah Brooke JenkinsDirector of Admission & Fin. Assist.FT$185,727$34,657$220,384

Board Members and Trustees

NameTitle
Wyatt GruberChair
Tonia KarrVice Chair
Alex SluskyBoard Member
Allyson LetteriBoard Member
Andrew SparksBoard Member
Bernadette CapozzoliBoard Member
Brad DefoorBoard Member
Charlotte GiovanniBoard Member
Christina Trujillo-ayoubBoard Member
Clara AbecassisBoard Member
Elizabeth BBoard Member
Evan CookeBoard Member
Greg VaisbergBoard Member
Joydeep GangulyBoard Member
Julia CollinsBoard Member
Julia PaigeBoard Member
Julia WongBoard Member
Kevin MarchettiBoard Member
Luke FelkerBoard Member
Mihir ShahBoard Member
Putnam DailyBoard Member
Taylor NagleBoard Member
Vickie BarretBoard Member
Vijay MohanBoard Member
Lauren FordSecretary
Brett BushTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Acre Real School LunchFood ServicesPO BOX 29116, San Francisco, CA 94129$1,225,635
Plant Construction Company LPConstruction Services300 NEWHALL ST, San Francisco, CA 94124$691,490
Clayton Timbrell & CoConstruction Services1033 POLK STREET, San Francisco, CA 94109$472,574
Hines Building MaintenanceJanitorial Services91 LOST LAKE LANE, Campbell, CA 95008$389,338
Cyo TransportationTransportation Services699 SERRAMONTE BLVD, Daly City, CA 94015$113,344
Revenue and Support

Revenue Composition

Contributions and Grants
$11,386,390
Program Service Revenue
$21,129,399
Investment Income
$2,786,843
Other Revenue
$-190,667
All Other Contributions
$11,386,390
Change in Net Assets
$7,505,802
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$16,693,843
Other Expenses$8,079,796
Grants and Similar Amounts Paid$2,832,524
Total Fundraising Expense$2,118,509
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$10,406,555$529,929$618,215$11,554,699
Grants to Domestic Individuals$2,832,524--$2,832,524
Current Officers, Directors, Trustees, and Key Employees$690,566$617,831$479,470$1,787,867
Depreciation Depletion$1,473,694$102,566$105,570$1,681,830
Other Employee Benefits$1,175,626$88,705$95,982$1,360,313
Occupancy$978,224$64,853$66,695$1,109,772
Fees for Services Other$678,647$65,592$270,152$1,014,391
Pension Plan Contributions$891,216$48,099$56,615$995,930
Payroll Taxes$834,211$81,499$79,324$995,034
Office Expenses$335,560$50,877$120,806$507,243
Information Technology$286,833$18,263$18,798$323,894
Insurance$269,947$18,686$18,992$307,625
Interest$255,895$20,455$16,770$293,120
All Other Expenses$90,037$12,129$157,058$259,224
Other Expenses$214,628$13,663$14,062$214,628
Fees for Services Legal-$117,724-$117,724
Fees for Service Investment Mgmnt Fees-$79,582-$79,582
Fees for Services Accounting-$61,915-$61,915
Total Functional Expenses$23,495,286$1,992,368$2,118,509$27,606,163
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liabilities$234,896

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACalifornia Statewide Communities Development Authority2020-08-21$10,000,000TO REFUND PRIOR ISSUE

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$10,000,000$10,000,000--

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

By resolution of the board of directors, the audit committee of the board reviews the tax return with the auditor on behalf of the board. The chair of the audit committee makes a copy of the 990 (with redacted schedule b) available to the entire board and responds to questions from the board regarding the 990.

Form 990, Part VI, Section B, Line 12C

On an annual basis, all trustees are provided a copy of the conflict of interest disclosure statement. This disclosure statement must be completed and returned to the chair of the committee of trustees by october 1 of each year for review by the executive committee. Should a member of the executive committee be the subject of a possible conflict of interest, that member will excuse himself/herself from the room during committee discussion and any voting regarding that conflict. All new trustees must complete the disclosure statement prior to assuming their duties for the school. The executive committee submits an annual confidential report to the board of trustees regarding any trustee conflicts of interest and their resolution.

Form 990, Part VI, Section B, Line 15

The process for determining the appropriate compensation for the head of school begins with a request from the compensation committee of the board for a custom benchmark study from the national association of independent schools (nais) for compensation data from member schools of nais and the california association of independent schools (cais). In addition, the custom study includes a group of up to 15 leading independent schools located in high cost-of-living communities. The compensation committee analyzes this data to determine the appropriate compensation package for the head of school. For the compensation for other key employees, the head of school reviews data annually from the statistics produced by both cais and the independent schools business officers association (cal-isboa) for compensation data for similarly qualified persons.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

FORM 990, PART VII, SECTION A - COLUMN (D):

Includes contract pay plus any compensation for additional roles outside of the employees contract such as coaching, camps, serving on a committee, etc.

Filing and Contact Details

Filer

Filer Name
Town School for Boys
EIN
94-1170412
Phone
4159213747
Address
2750 JACKSON STREET, SAN FRANCISCO, CA 94115

Signing Officer

Name
Kary Norton
Title
Chief Financial Officer
Phone
4159213747
Signed
2025-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lorri Hamilton Durbin
Formed
1939
Legal Domicile
CA
Voting Board Members
26
Independent Board Members
26
Employees
109
Volunteers
200

Preparer

Firm
Baker Tilly Advisory Group Lp
Address
18500 VON KARMAN AVE 10TH FLOOR, IRVINE, CA 92612
Preparer
Brian Yacker
Phone
9492222999
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The organization did not change its oversight process or selection process during the tax year.

Financial Statement Notes

PART V, LINE 4:

The school's endowment funds (the "fund") consist of restricted funds to be held in perpetuity as well as associated unappropriated investment earnings and are classified as net assets with donor restrictions. The fund does not have any board designated endowment funds.

PART X, LINE 2:

The school is exempt from federal and state income taxes under the internal revenue code section 501(c)(3) and by the california revenue and taxation code 23701d. Accordingly, the school has not provided for income taxes in these consolidated financial statements. Town school properties, llc is a pass-through entity for income tax reporting purposes and, accordingly, does not pay tax on its income. Instead, income or loss is reported on the tax returns of the school. The entity is subject to a minimum franchise tax for the state of california. Each year, management considers whether any material tax position the school has taken is more likely than not to be sustained upon examination by the applicable taxing authority. Management believes that any positions the organization has taken are supported by substantial authority, and hence, do not need to be measured or disclosed in these consolidated financial statements.

Raw XML AppendixShowing 400 of 971 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0TOWN SCHOOL FOR BOYS IS AN INDEPENDENT ALL BOYS' SCHOOL SERVING GRADES K-8 WITH AN APPROXIMATE ENROLLMENT OF 415. AT TOWN SCHOOL, LEARNING IS PRIZED, LOVE OF SCHOOL IS ESSENTIAL, AND BOYHOOD IS CELEBRATED. AS AN ALL BOYS' SCHOOL, TOWN PROVIDES A RICH, CHALLENGING AND RIGOROUS EDUCATIONAL EXPERIENCE THAT ADDRESSES THE DISTINCTIVE ENERGY LEVELS AND DEVELOPMENTAL STYLES OF BOYS. TOWN VALUES BEING A DIVERSE AND INCLUSIVE COMMUNITY THAT NURTURES INTEGRITY, SENSITIVITY AND RESPECT IN ITS BOYS, AND PREPARES THEM TO BECOME PRODUCTIVE AND CONTRIBUTING MEMBERS OF AN EVER-CHANGING WORLD. IN ADDITION TO ITS ACADEMIC PROGRAM, TOWN ALSO OFFERS OTHER ACTIVITIES INCLUDING ATHLETICS, EXTENDED DAY PROGRAMS, OUTDOOR EDUCATION EXPERIENCES, CLUBS AND AFFINITY GROUPS, SERVICE LEARNING AND GLOBAL CITIZENSHIP OPPORTUNITIES THAT ALL SHAPE TOWN'S PORTRAIT OF A GRADUATE AND CELEBRATE TOWN'S VALUES OF RESPECT, CURIOSITY, BELONGING, INTEGRITY, AND JOY.
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IRS990/Form990PartVIISectionAGrp/TitleTxt26HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt27CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt28HEAD OF LOWER SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt29HEAD OF UPPER SCHOOL-ENDED 12/2024
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IRS990/Form990PartVIISectionAGrp/TitleTxt32DIR. OF TEACHER DEV. & STRAT. INIT.
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IRS990/Form990PartVIISectionAGrp/TitleTxt34PHYSICAL EDUCATION TEACHER
IRS990/Form990PartVIISectionAGrp/TitleTxt35DIRECTOR OF ADMISSION & FIN. ASSIST.
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