Milton Hershey School & School Trust
- Assets
- $17.4b
- Revenue
- $462.0m
- Investments
- $14.2b
- Employees
- 2,023
- Location
- Hershey, PA
- Founding
- 02/1937
- Data as of
- 07/2020
- EIN
- 23-1353340
Organization Overview
Milton Hershey School & School Trust is located in Hershey, PA. The organization was established in 1937. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 07/2021, Milton Hershey School & School Trust employed 2,023 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milton Hershey School & School Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 07/2020, Milton Hershey School & School Trust generated $462.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $286.6m during the year ending 07/2020. While expenses have increased by 1.8% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
IN KEEPING WITH MILTON AND CATHERINE HERSHEY'S DEED OF TRUST, MILTON HERSHEY SCHOOL NURTURES AND EDUCATES CHILDREN IN SOCIAL AND FINANCIAL NEED. SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O FOR FURTHER DETAILS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter G Gurt President | Officer | 55 | $627,138 |
Elliott H Robinson VP Administration | Officer | 52 | $340,108 |
Freda F Martine VP Of Edu And Student Life | Officer | 55 | $284,278 |
Lisa Rashid VP - Communications | Officer | 53 | $264,171 |
Jeffrey Johnson VP Human Resources | Officer | 52 | $259,978 |
Andrew Clark ESQ VP Legal | Officer | 55 | $247,801 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wohlsen Construction Co Construction | 7/30/21 | $16,431,883 |
Kinsley Construction Inc Construction | 7/30/21 | $9,707,566 |
Hershey Trust Company Invest & Shared Srvs | 7/30/21 | $7,906,674 |
Sodexo Inc Affiliates Construction | 7/30/21 | $5,828,769 |
Greenleaf Elliott Pc Legal | 7/30/21 | $3,931,547 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,628 |
| Investment income | $368,989,267 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,363,609 |
| Net Gain/Loss on Asset Sales | $89,242,436 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $461,991,595 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $8,516,625 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,904,743 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $91,077,185 |
| Pension plan accruals and contributions | $14,128,902 |
| Other employee benefits | $25,935,675 |
| Payroll taxes | $8,234,696 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,193,231 |
| Fees for services: Accounting | $528,183 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $35,188,291 |
| Fees for services: Other | $6,161,666 |
| Advertising and promotion | $4,168,289 |
| Office expenses | $1,963,965 |
| Information technology | $2,340,069 |
| Royalties | $0 |
| Occupancy | $6,108,886 |
| Travel | $1,323,757 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $347,951 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,019,518 |
| Insurance | -$462,720 |
| All other expenses | $0 |
| Total functional expenses | $286,579,217 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $94,647 |
| Savings and temporary cash investments | $62,159,575 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,092,150 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,258,417 |
| Prepaid expenses and deferred charges | $2,195,905 |
| Investments—publicly traded securities | $2,373,624,146 |
| Investments—other securities | $14,167,311,437 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,395,898,597 |
| Accounts payable and accrued expenses | $236,507,605 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $236,507,605 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $17,159,390,992 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Milton Hershey School & School Trust has recieved totaling $99.
| Awarding Organization | Amount |
|---|---|
Aetna Foundation Inc Hartford, CT PURPOSE: GENERAL PURPOSE | $99 |
Endowment Analysis
| Beg. Balance | $15,560,697,333 |
| Earnings | $3,748,236,728 |
| Ending Balance | $19,308,934,061 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Milton Hershey School & School Trust Hershey, PA | $17,395,898,597 | $461,991,595 |
Ohba Ohio Virtual Academy Maumee, OH | $8,133,239 | $140,755,185 |
Horace Mann School Bronx, NY | $475,824,158 | $137,244,948 |
Ethical Culture Fieldston School New York, NY | $252,651,487 | $107,394,843 |
Dalton Schools Inc New York, NY | $268,184,018 | $87,154,384 |
Riverdale Country School Inc Bronx, NY | $247,467,239 | $82,826,277 |
Trinity Episcopal Schools Corporation New York, NY | $265,614,292 | $76,873,691 |
United Nations International School New York, NY | $95,948,249 | $80,239,931 |
Columbia Grammar & Preparatory School New York, NY | $126,207,367 | $82,489,526 |
Poly Prep Country Day School Brooklyn, NY | $174,200,532 | $76,376,518 |
Saint Anns School Brooklyn, NY | $162,069,731 | $73,475,158 |
Pingry Corporation Basking Ridge, NJ | $215,792,985 | $70,756,009 |