People

Carolyn Hapeman, CPA

Assistant Head of School for Finance & Operations

Westtown School

West Chester, PA

Carolyn Hapeman, CPA, is assistant head of school for finance and operations at Westtown School, a Quaker PK-12 independent day and boarding school enrolling 700 students. Hapeman began her career in public accounting in Madison, Wisconsin. After 11 years, she moved into the private sector as controller and chief compliance officer at Northern Capital Management, and then as controller at Sungard Avantgard, a Fortune 500 company. Hapeman began her career in independent schools in 2008 as chief financial officer for New Community Jewish High School in California and then moved to Linden Hall School for Girls in Pennsylvania. She currently serves as board chair of the PAISBOA Foundation, and is the 2023 recipient of the John Batley Award, PAISBOA’s highest honor.

Online Courses

Budget Meets Mission: School Finance for Non-Business Leaders

Understand the independent school business model, learn to be a good steward of your school's financial resources and work more collaboratively around financial issues.
Engaging in Difficult Conversations with Employees

Learn to engage with employees in an empathetic manner while still clearly conveying important information and safeguarding your school from liability.
Human Resources Fundamentals for Independent Schools

Learn how to address day-to-day human resources challenges such as evaluation and termination, FMLA, the ADA and employee classification.
Leave Law Boot Camp

Learn about best practices related to employee leave and how federal leave laws intersect and overlap.
Long-Range Financial Modeling

Learn how to customize and manipulate NBOA's Long-Range Financial Model, a powerful financial planning tool for your school.
Measuring Financial Health with the Composite Financial Index

Calculate your school's Composite Financial Index (CFI) score — a tool trusted in higher education for decades — and learn how you can use the score and its 4 underlying ratios to think strategically about your school's financial strengths and weaknesses.
Nonprofit Accounting Fundamentals for Independent Schools

Learn the fundamentals of nonprofit accounting and reporting by exploring governance structures, internal control strategies, financial statements and compliance essentials.
Payroll Best Practices for Independent Schools

Learn about best practices related to payroll including employee classification and overtime pay, deductions and taxability and the complexity of calculating a faculty member’s final paycheck when they leave mid-year.
Safeguarding the Future: Enterprise Risk Management

This course will equip school leaders to identify, document and strategically manage the risks facing independent schools. It covers the principles of enterprise risk management (ERM) and provides tools and resources to institute an ERM program.
Stewarding Donor Dollars: Financial Principles for Contributions

Learn best practices related to gift reporting, compliance and donor stewardship, as well as how to develop a successful and strategic partnership between the financial and development functions at your school.
Strategic HR Leadership

Learn to develop and communicate your school's personnel management strategy and to be responsive to a changing market.
The Business and Art of Financial Aid

Learn tactical best practices related to the financial aid process to enhance the strategic partnership between the business and admissions offices and ensure long-term success.
Wage and Hour Boot Camp

Learn the ins and outs of wage and hour law, including the aspects that are unique to educational environments.

Past Webinars

Enrollment Forecasting as a Strategic Financial Tool This item is protected

May 8, 2026

This webinar presents a strategic approach to enrollment forecasting that blends the enrollment team’s relational insights with financial analysis and data modeling. Learn how to strengthen projections using internal data alongside external signals.
There's More Room for Change Than You Think This item is protected

April 24, 2026

To stay competitive in today’s educational landscape, independent schools should modernize spaces by aligning with evolving pedagogical trends and technology advancements. Learn how existing spaces can be transformed to better serve a campus community.
Effortless Efficiency: Payroll to Performance This item is protected

April 13, 2026

Efficiency is paramount through the entire Human Resources function. In this webinar, HR leaders and business officers will explore how to streamline workforce management from payroll processing to performance evaluation.
Mission (and Margin) Possible: Leveraging Campus Assets This item is protected

March 30, 2026

From summer programs and rentals to strategic partnerships, schools can unlock new income streams. This webinar explores practical strategies to maximize underutilized assets, assess operational readiness, and design sustainable initiatives.
Blending Respect and Efficiency in the Business Office This item is protected

February 20, 2026

Join members of NBOA’s volunteer Human Resources Council for a practical discussion on strategies to safeguard your working hours without compromising collegial relationships —all while saving time.

Net Assets Articles

Being Safe and Feeling Safe at School

May 21, 2026

Your school may be doing everything right to ensure campus is safe, but feeling safe on campus is another matter.
What a School Merger Looks Like 15 Years Later

May 19, 2026

Longtime independent school leader Frank Aloise reflects on the pressures, decisions and outcomes that defined a landmark school merger.
Growing an Endowment: Four Schools' Stories (Part 2) This item is protected

May 18, 2026

Four schools share how they launched and stewarded their endowment to bolster financial sustainability.
What Lawyers Want You To Know About AI Use Across the School This item is protected

May 14, 2026

Be aware of the risks when school employees use AI in the academic program, admissions, enrollment, finance, operations, HR and governance.
Starting an Endowment: Four Schools' Stories (Part 1) This item is protected

May 11, 2026

Four schools share how they launched and stewarded their endowment to bolster financial sustainability.

FEATURED

Benchmark Against National KPIs with the Latest Financial State of the Industry Report

A research report analyzing trends across 18 key financial and operational indicators over five years. Use this report to benchmark performance, stress-test assumptions and make informed decisions, as external forces continue to challenge long-term financial sustainability.

RECENT DISCUSSIONS

NBOA CAREERS

Director of Physical Plant

Brookwood School
Technology Support Specialist

Morristown Beard School
Chief Financial Operation Officer (CFOO)

Chartwell School

VISIT CAREERS

Carolyn Hapeman, CPA

Online Courses

Budget Meets Mission: School Finance for Non-Business Leaders

Engaging in Difficult Conversations with Employees

Human Resources Fundamentals for Independent Schools

Leave Law Boot Camp

Long-Range Financial Modeling

Measuring Financial Health with the Composite Financial Index

Nonprofit Accounting Fundamentals for Independent Schools

Payroll Best Practices for Independent Schools

Safeguarding the Future: Enterprise Risk Management

Stewarding Donor Dollars: Financial Principles for Contributions

Strategic HR Leadership

The Business and Art of Financial Aid

Wage and Hour Boot Camp

Past Webinars

Enrollment Forecasting as a Strategic Financial Tool This item is protected

There's More Room for Change Than You Think This item is protected

Effortless Efficiency: Payroll to Performance This item is protected

Mission (and Margin) Possible: Leveraging Campus Assets This item is protected

Blending Respect and Efficiency in the Business Office This item is protected

Net Assets Articles

Being Safe and Feeling Safe at School

What a School Merger Looks Like 15 Years Later

Growing an Endowment: Four Schools' Stories (Part 2) This item is protected

What Lawyers Want You To Know About AI Use Across the School This item is protected

Starting an Endowment: Four Schools' Stories (Part 1) This item is protected

FEATURED

Benchmark Against National KPIs with the Latest Financial State of the Industry Report

RECENT DISCUSSIONS

NBOA CAREERS

Director of Physical Plant

Technology Support Specialist

Chief Financial Operation Officer (CFOO)

Become an NBOA Member