Milton Hershey School & School Trust
- Assets
- $23.5b
- Revenue
- $1.5b
- Investments
- $20.3b
- Employees
- 2,250
- Location
- Hershey, PA
- Founding
- 02/1937
- Data as of
- 07/2022
- 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 07/2023, Milton Hershey School & School Trust employed 2,250 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 07/2022, Milton Hershey School & School Trust generated $1.5b in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.4% each year . All expenses for the organization totaled $309.2m during the year ending 07/2022. While expenses have increased by 2.6% per year over the past 7 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
2022
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 | $675,110 |
Elliott H Robinson VP Administration | Officer | 53 | $346,572 |
Steven Sparks ESQ Secretary Until 7/10/22 | Officer | 44 | $0 |
Freda F Martine VP Of Edu And Student Life | Officer | 55 | $312,314 |
Andrew Clark ESQ VP Legal/general Counsel | Officer | 55 | $278,151 |
Lisa Rashid VP - Communications | Officer | 48 | $265,694 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hershey Trust Company Invest & Shared Srvs | 7/30/23 | $20,379,379 |
Sodexo Inc Affiliates Construction | 7/30/23 | $6,681,743 |
Egstoltzfus Construction Llc Construction | 7/30/23 | $4,448,170 |
Arthur Funk Sons Inc Construction | 7/30/23 | $2,989,667 |
York Excavating Company Llc Construction | 7/30/23 | $6,609,588 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $191,306 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $191,306 |
| Total Program Service Revenue | $621,843 |
| Investment income | $463,492,401 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,521,610 |
| Net Gain/Loss on Asset Sales | $990,894,211 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,457,721,371 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,788,703 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,157,130 |
| Compensation of current officers, directors, key employees. | $1,815,989 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $100,201,008 |
| Pension plan accruals and contributions | $12,548,231 |
| Other employee benefits | $30,169,764 |
| Payroll taxes | $8,964,937 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,942,295 |
| Fees for services: Accounting | $246,248 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $43,077,201 |
| Fees for services: Other | $7,085,182 |
| Advertising and promotion | $9,181,872 |
| Office expenses | $2,088,824 |
| Information technology | $2,823,918 |
| Royalties | $0 |
| Occupancy | $6,913,723 |
| Travel | $636,841 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $150,390 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,717,643 |
| Insurance | -$35,561 |
| All other expenses | $5,262,277 |
| Total functional expenses | $309,172,162 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,832,001 |
| Savings and temporary cash investments | $275,528,176 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $108,099,777 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,018,534 |
| Prepaid expenses and deferred charges | $3,594,870 |
| Net Land, buildings, and equipment | $784,794,184 |
| Investments—publicly traded securities | $2,016,362,453 |
| Investments—other securities | $20,328,558,787 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,523,788,782 |
| Accounts payable and accrued expenses | $271,236,000 |
| 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 | $271,236,000 |
| Net assets without donor restrictions | $1,876,161,916 |
| Net assets with donor restrictions | $21,376,390,866 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $23,523,788,782 |