Nonprofit · EIN 23-1370500
EPISCOPAL ACADEMY
Tax-exempt · NEWTOWN SQ, PA 19073
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $81,052,215 | $63,768,580 | $17,283,635 | $341,536,376 | $23,286,161 | $318,250,215 |
| June 30, 2024 | 990 | $74,753,498 | $60,864,819 | $13,888,679 | $319,607,013 | $24,299,719 | $295,307,294 |
| June 30, 2023 | 990 | $70,693,752 | $57,548,966 | $13,144,786 | $302,553,987 | $23,626,650 | $278,927,337 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $18,090,025
- of which government grants
- $268,256
- Program service revenue
- $51,443,857
- Investment income
- $11,241,701
- Net rental income
- $143,702
- Net gain from sales of assets
- $4,531,203
- Net income from fundraising events
- -$34,624
- Net income from sales of inventory
- -$24,070
- Other revenue
- $276,632
Expenses
- Grants and similar amounts paid
- $10,710,673
- Compensation of officers, directors and key employees
- $1,437,275
- Other salaries and wages
- $29,244,697
- Salaries, compensation and benefits (total)
- $37,215,963
- Professional fundraising fees
- $0
- Legal fees
- $21,635
- Accounting fees
- $84,426
- Occupancy
- $1,650,837
- Travel
- $1,372,643
- Depreciation
- $4,871,405
- Program services (functional)
- $45,995,205
- Management and general (functional)
- $14,142,169
- Fundraising (functional)
- $3,631,206
Balance sheet and other
- Total assets, start of year
- $319,607,013
- Total assets, end of year
- $341,536,376
- Total liabilities, end of year
- $23,286,161
- Net assets, end of year
- $318,250,215
- Land, buildings and equipment
- $151,838,369
- Publicly traded securities
- $151,222,765
- Net assets without donor restrictions
- $245,618,739
- Net assets with donor restrictions
- $72,631,476
- Gross receipts
- $88,140,629
- Employees
- 578
- Volunteers
- 150
- Year formed
- 1785
- State of legal domicile
- PA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DR THOMAS J LOCKE | HEAD OF SCHOOL Officer | 40 | $769,596 | $299,641 |
| lawrence capuzzi | chief financial officer Officer | 40 | $337,835 | $43,444 |
| christopher torino | assistant head of school Highest-paid employee | 40 | $340,186 | $32,099 |
| jennifer fifer | director of advancement Highest-paid employee | 40 | $260,215 | $36,129 |
| mark notaro | chief operating officer Highest-paid employee | 40 | $210,576 | $63,160 |
| michael letts | head of upper school Highest-paid employee | 40 | $211,699 | $25,757 |
| Laurie Piette | head of Middle school Highest-paid employee | 40 | $211,617 | $21,258 |
| elizabeth A Corrigan | Chair Trustee or director, Officer | 3 | $0 | $0 |
| Robert R Corrato | Vice Chair Trustee or director, Officer | 3 | $0 | $0 |
| ann t Semmer | vice Chair Trustee or director, Officer | 3 | $0 | $0 |
| j Richard Leaman III | Vice Chair Trustee or director, Officer | 3 | $0 | $0 |
| Calvin W Schmidt | vice chair Trustee or director, Officer | 3 | $0 | $0 |
| amachie Ackah | secretary Trustee or director, Officer | 3 | $0 | $0 |
| julieann g shanahan | treasurer Trustee or director, Officer | 3 | $0 | $0 |
| sandra baldino | trustee Trustee or director | 3 | $0 | $0 |
16 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Alexa R Buckley | trustee Trustee or director | 3 | $0 |
| John S Buckley Jr | Trustee Trustee or director | 3 | $0 |
| Warren I Claytor | Trustee Trustee or director | 3 | $0 |
| david r Dugery | Trustee Trustee or director | 3 | $0 |
| rev canon daniel gp gutierrez | Ex Officio Trustee or director | 3 | $0 |
| noushin heidary | Trustee Trustee or director | 3 | $0 |
| joanne f hopkins | Trustee Trustee or director | 3 | $0 |
| William L Lo | Trustee Trustee or director | 3 | $0 |
| christopher k mchugh | Trustee Trustee or director | 3 | $0 |
| robert s mcmenamin | Trustee Trustee or director | 3 | $0 |
| adam j murray | Trustee Trustee or director | 3 | $0 |
| ryan l newman | Trustee Trustee or director | 3 | $0 |
| david j reape | Trustee Trustee or director | 3 | $0 |
| karin a risi | Trustee Trustee or director | 3 | $0 |
| mohammed a toure | trustee Trustee or director | 3 | $0 |
| robert c wright jr | trustee Trustee or director | 3 | $0 |
990 for the year ended June 30, 2024: 33 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DR THOMAS J LOCKE | HEAD OF SCHOOL Officer | 40 | $663,878 | $297,573 |
| lawrence capuzzi | chief financial officer Officer | 40 | $319,233 | $40,656 |
| christopher torino | assistant head of school Highest-paid employee | 40 | $307,424 | $28,964 |
| jennifer fifer | director of institutional adva Highest-paid employee | 40 | $265,911 | $30,598 |
| mark notaro | chief operating officer Highest-paid employee | 40 | $201,275 | $61,575 |
| terrence malone | head of lower school Highest-paid employee | 40 | $209,305 | $27,485 |
| michael letts | head of upper school Highest-paid employee | 40 | $205,102 | $24,817 |
| elizabeth A Corrigan | Chair Trustee or director, Officer | 3 | $0 | $0 |
| Robert R Corrato | Vice Chair Trustee or director, Officer | 3 | $0 | $0 |
| ann t Semmer | vice Chair Trustee or director, Officer | 3 | $0 | $0 |
| j Richard Leaman III | treasurer Trustee or director, Officer | 3 | $0 | $0 |
| amachie Ackah | secretary Trustee or director, Officer | 3 | $0 | $0 |
| sandra baldino | trustee Trustee or director | 3 | $0 | $0 |
| Alexa R Buckley | trustee Trustee or director | 3 | $0 | $0 |
| John S Buckley Jr | Trustee Trustee or director | 3 | $0 | $0 |
| Warren I Claytor | Trustee Trustee or director | 3 | $0 | $0 |
| david r Dugery | Trustee Trustee or director | 3 | $0 | $0 |
| danielle Gureghian | Trustee Trustee or director | 3 | $0 | $0 |
| rev canon daniel gp gutierrez | Trustee Trustee or director | 3 | $0 | $0 |
| noushin heidary | Trustee Trustee or director | 3 | $0 | $0 |
| joanne f hopkins | Trustee Trustee or director | 3 | $0 | $0 |
| William L Lo | Trustee Trustee or director | 3 | $0 | $0 |
| christopher k mchugh | Trustee Trustee or director | 3 | $0 | $0 |
| robert s mcmenamin | Trustee Trustee or director | 3 | $0 | $0 |
| adam j murray | Trustee Trustee or director | 3 | $0 | $0 |
| ryan l newman | Trustee Trustee or director | 3 | $0 | $0 |
| david j reape | Trustee Trustee or director | 3 | $0 | $0 |
| karin a risi | Trustee Trustee or director | 3 | $0 | $0 |
| laura m rooklin | trustee Trustee or director | 3 | $0 | $0 |
| calvin w schmidt | trustee Trustee or director | 3 | $0 | $0 |
| julieann g shanahan | trustee Trustee or director | 3 | $0 | $0 |
| mohammed a toure | trustee Trustee or director | 3 | $0 | $0 |
| robert c wright jr | trustee Trustee or director | 3 | $0 | $0 |
990 for the year ended June 30, 2023: 37 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DR THOMAS J LOCKE | HEAD OF SCHOOL Officer | 40 | $708,417 | $283,605 |
| LAWRENCE CAPUZZI | CHIEF FINANCIAL OFFICER Officer | 40 | $300,064 | $36,641 |
| JENNIFER FIFER | DIRECTOR OF INSTITUTIONAL ADVANCEMENT Highest-paid employee | 40 | $244,746 | $28,061 |
| MARK NOTARO | CHIEF OPERATING OFFICER Highest-paid employee | 40 | $199,421 | $61,226 |
| CHRISTOPHER TORINO | ASSISTANT HEAD OF SCHOOL Highest-paid employee | 40 | $227,011 | $27,475 |
| TERRENCE MALONE | HEAD OF LOWER SCHOOL Highest-paid employee | 40 | $201,239 | $29,326 |
| MICHAEL LETTS | HEAD OF UPPER SCHOOL Highest-paid employee | 40 | $197,102 | $24,214 |
| ELIZABETH A CORRIGAN | CHAIR Trustee or director, Officer | 3 | $0 | $0 |
| JEREMY P COOTE | VICE CHAIR Trustee or director, Officer | 3 | $0 | $0 |
| ROBERT R CORRATO | VICE CHAIR Trustee or director, Officer | 3 | $0 | $0 |
| ANN T SEMMER | VICE CHAIR Trustee or director, Officer | 3 | $0 | $0 |
| J RICHARD LEAMAN III | TREASURER Trustee or director, Officer | 3 | $0 | $0 |
| AMACHIE ACKAH | SECRETARY Trustee or director, Officer | 3 | $0 | $0 |
| SANDRA BALDINO | TRUSTEE Trustee or director | 3 | $0 | $0 |
| JOHN S BUCKLEY JR | TRUSTEE Trustee or director | 3 | $0 | $0 |
| WARREN I CLAYTOR | TRUSTEE Trustee or director | 3 | $0 | $0 |
| ROBERT R CORRATO | TRUSTEE Trustee or director | 3 | $0 | $0 |
| DAVID R DUGERY | TRUSTEE Trustee or director | 3 | $0 | $0 |
| DANIELLE GUREGHIAN | TRUSTEE Trustee or director | 3 | $0 | $0 |
| REV CANON DANIEL GP GUTIERREZ | TRUSTEE Trustee or director | 3 | $0 | $0 |
| NOUSHIN HEIDARY | TRUSTEE Trustee or director | 3 | $0 | $0 |
| JOANNE F HOPKINS | TRUSTEE Trustee or director | 3 | $0 | $0 |
| BILLY KING | TRUSTEE Trustee or director | 3 | $0 | $0 |
| ANN M KRAFTSON | TRUSTEE Trustee or director | 3 | $0 | $0 |
| RYAN D LIMAYE | TRUSTEE Trustee or director | 3 | $0 | $0 |
| WILLIAM L LO | TRUSTEE Trustee or director | 3 | $0 | $0 |
| CHRISTOPHER K MCHUGH | TRUSTEE Trustee or director | 3 | $0 | $0 |
| ROBERT S MCMENAMIN | TRUSTEE Trustee or director | 3 | $0 | $0 |
| ADAM J MURRAY | TRUSTEE Trustee or director | 3 | $0 | $0 |
| RYAN L NEWMAN | TRUSTEE Trustee or director | 3 | $0 | $0 |
| DAVID J REAPE | TRUSTEE Trustee or director | 3 | $0 | $0 |
| KARIN A RISI | TRUSTEE Trustee or director | 3 | $0 | $0 |
| LAURA M ROOKLIN | TRUSTEE Trustee or director | 3 | $0 | $0 |
| CALVIN W SCHMIDT | TRUSTEE Trustee or director | 3 | $0 | $0 |
| JULIEANN G SHANAHAN | TRUSTEE Trustee or director | 3 | $0 | $0 |
| MOHAMMED A TOURE | TRUSTEE Trustee or director | 3 | $0 | $0 |
| ROBERT C WRIGHT JR | TRUSTEE Trustee or director | 3 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1785 BISHOP WHITE DR, NEWTOWN SQ, PA 19073-1300
- In care of
- % LAWRENCE CAPUZZI
- Principal officer (990 for 2024)
- DR THOMAS J LOCKE, 1785 Bishop white Drive, Newtown Square, PA 19073
- Signed the 990
- LAWRENCE CAPUZZI, CFO
- Phone
- (484) 424-1420
- Website
- www.episcopalacademy.org
- Return prepared by
- WITHUMSMITHBROWN PC
Mission
CHALLENGING AND NURTURING MIND, BODY, AND SPIRIT, WE INSPIRE BOYS AND GIRLS TO LEAD LIVES OF PURPOSE, FAITH, AND INTEGRITY.
Program accomplishments
- THE EPISCOPAL ACADEMY IS AN INDEPENDENT, CO-EDUCATIONAL DAY SCHOOL LOCATED IN NEWTOWN SQUARE, PENNSYLVANIA. ITS CURRICULUM IS COLLEGE PREPARATORY AND INCLUDES GRADES PRE-KINDERGARTEN THROUGH TWELVE. THE ENROLLMENT AT THE ACADEMY IS APPROXIMATELY 1,279 STUDENTS. THE SCHOOL PARTICIPATES IN COMMUNITY SERVICE WORK THAT EXEMPLIFIES THE SCHOOL'S MISSION. THE EPISCOPAL ACADEMY GREATLY VALUES DIVERSITY OF ALL KINDS, INCLUDING RACIAL AND ECONOMIC. TO HELP ACHIEVE THIS DIVERSITY, APPROXIMATELY $9.66 MILLION OF NEED-BASED FINANCIAL AID IS GRANTED TO FAMILIES EACH YEAR IN ORDER TO MAKE IT POSSIBLE FOR CHILDREN TO ATTEND THE SCHOOL. APPROXIMATELY 24% OF THE STUDENT POPULATION IS AWARDED FINANCIAL AID. ON AVERAGE, THIS AWARD IS APPROXIMATELY 88% OF THE AVERAGE TUITION.Expenses $45,995,205 · grants $10,710,673 · revenue $51,443,857
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 23-1370500
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- School
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1943
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B200)
- Assets (IRS master file)
- $341,536,376
- Income (IRS master file)
- $88,140,629
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $81,052,215 | $63,768,580 | $341,536,376 | XML |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $74,753,498 | $60,864,819 | $319,607,013 | XML |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $70,693,752 | $57,548,966 | $302,553,987 | XML |
| 990-T | June 2023 | – | – | – | IRS |
| 990 | June 2022 | $65,492,381 | $57,477,386 | $285,908,230 | IRS |
| 990-T | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-T | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-1370500).
Questions about EPISCOPAL ACADEMY
- What is the EIN of EPISCOPAL ACADEMY?
- The employer identification number (EIN) of EPISCOPAL ACADEMY is 23-1370500.
- Is EPISCOPAL ACADEMY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1943.
- Are donations to EPISCOPAL ACADEMY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does EPISCOPAL ACADEMY file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of EPISCOPAL ACADEMY due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did EPISCOPAL ACADEMY last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of EPISCOPAL ACADEMY?
- The 990 for the year ended June 30, 2025 names DR THOMAS J LOCKE.
- Who are the officers and directors of EPISCOPAL ACADEMY?
- The 990 for the year ended June 30, 2025 lists 31 people; 7 received compensation from the organization, the highest $769,596 (DR THOMAS J LOCKE, HEAD OF SCHOOL).
- How much revenue does EPISCOPAL ACADEMY have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $81,052,215, expenses of $63,768,580 and total assets of $341,536,376 at year end.
Other nonprofits in NEWTOWN SQ
- DELAWARE COUNTY CHRISTIAN SCHOOL SOCIETY EIN 23-1367719 · last filed 990 for 2025
- DELAWARE COUNTY CHRISTIAN SCHOOL FOUNDATION EIN 84-3343456 · last filed 990 for 2025
- UNSCHOOLED THE MOVEMENT INC EIN 85-0550133 · last filed 990-PF for 2024
- CULBERTSON ELEMENTARY SCHOOL PARENT TEACHER ORGANIZATION EIN 26-3975910 · last filed 990-EZ for 2025
- RICK BAY FOUNDATION FOR EXCELLENCE IN EYECARE EDUCATION EIN 46-1994820 · last filed 990-EZ for 2024
- STEVEN SABOL FOUNDATION EIN 45-3687995 · last filed 990-PF for 2025
- PARENT BOOSTER USA INC EIN 84-4287662 · last filed 990-N for 2024
- CYBERADELPHIA INC EIN 39-3044901 · last filed 990-N for 2025