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.
Building Sustainable Hiring Systems

Discover school-specific strategies that will attract and retain faculty and staff who galvanize your school’s mission.
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.
Enterprise Risk Management for Independent Schools

This course will provide the frameworks, tools, and strategies needed to identify, prioritize, and mitigate risks while strengthening decision-making, resilience, and mission-focused leadership.
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.
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 Fundamentals

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.
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.
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.

Past Webinars

2026’s Back-to-School Legal & Regulatory Update This item is protected

September 30, 2026

Join independent school legal experts as they review recent changes to the law and answer your questions about how they may impact your school.
Grants Management for Independent Schools This item is protected

May 26, 2026

Designed for business officers who manage or oversee grants, this webinar provides actionable tools and templates to strengthen financial stewardship and enhance mission impact through effective grants administration.
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.

Net Assets Articles

Public Funding, Independence and Intentional Decision-Making

October 7, 2026

As more opportunities for public funding arise, independent school leaders must keep their eyes open to both the benefits and risks.
Building the Next Generation of School Leaders This item is protected

October 5, 2026

A replicable 16-session leadership development program for PK-12 independent schools.
The Affordability Imperative

September 29, 2026

Shifting applicant demographics, rising aid expenditures and the search for a true "both/and" approach to financial aid, with NAIS’s Mark Mitchell.
Making Cents of Service: Mentoring the Philanthropic Investment Club

September 25, 2026

A small investment portfolio has become a powerful tool for teaching students about stewardship, philanthropy and servant leadership.
What’s Your School’s Discounting DNA? This item is protected

September 22, 2026

An approach that balances need-based aid and remission is the most common of 9 approaches identified through data analysis.

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

Chief Financial Officer

St. Matthew's Parish School
Interim Chief Financial Officer

Christ Episcopal School
Director of Finance

Meyer Jewish Preparatory School

VISIT CAREERS

Ask Bo

Carolyn Hapeman, CPA

Online Courses

Budget Meets Mission: School Finance for Non-Business Leaders

Building Sustainable Hiring Systems

Engaging in Difficult Conversations with Employees

Enterprise Risk Management for Independent Schools

Human Resources Fundamentals for Independent Schools

Measuring Financial Health with the Composite Financial Index

Nonprofit Accounting Fundamentals for Independent Schools

Payroll Fundamentals

Stewarding Donor Dollars: Financial Principles for Contributions

The Business and Art of Financial Aid

Past Webinars

2026’s Back-to-School Legal & Regulatory Update This item is protected

Grants Management for Independent Schools This item is protected

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

Net Assets Articles

Public Funding, Independence and Intentional Decision-Making

Building the Next Generation of School Leaders This item is protected

The Affordability Imperative

Making Cents of Service: Mentoring the Philanthropic Investment Club

What’s Your School’s Discounting DNA? This item is protected

FEATURED

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

RECENT DISCUSSIONS

NBOA CAREERS

Chief Financial Officer

Interim Chief Financial Officer

Director of Finance

Become an NBOA Member