2024-02-12T15:34:59-07:00 2023-06-30 990 2022-07-01 042103870 BELMONT HILL SCHOOL INC BELM 6174844410 350 Prospect Street Belmont MA 024782662 Jay Bounty Assistant Treasurer 6179935313 2024-02-15 Jay Bounty 999009999 1 1 11 0 AAL2 X 2022 2023-04-26 12:10:37Z Jay Bounty 350 Prospect Street Belmont MA 02478 52549612 0 X www.belmonthill.org X 1923 MA Belmont Hill School educates boys in mind, body, and spirit to develop men of good character. Our community encourages and challenges students to discover and pursue passions, seek excellence and face adversity with resilience. We cultivate critical thinking and creativity, teamwork and competition, hard work and reflections, tradition and innovation. Valuing our differences and working together, we embrace camaraderie, compassion, and service to others. Our school strives to instill in each boy ethical judgment, a sense of common humanity, and lifelong love of learning. 34 33 264 300 -187828 0 12286440 11957701 26243933 27549629 8995935 1574333 -15370 7119 47510938 41088782 6110680 6356868 0 0 17296201 18611268 0 0 2497190 13161165 13630997 36568046 38599133 10942892 2489649 216719471 239891189 40827288 41089402 175892183 198801787 Belmont Hill School educates boys in mind, body, and spirit to develop men of good character. Our community encourages and challenges students to discover and pursue passions, seek excellence and face adversity with resilience. We cultivate critical thinking and creativity, teamwork and competition, hard work and reflections, tradition and innovation. Valuing our differences and working together, we embrace camaraderie, compassion, and service to others. Our school strives to instill in each boy ethical judgment, a sense of common humanity, and lifelong love of learning. 0 0 28691441 6283529 28042257 Educational institutions and related activities: Belmont Hill School's mission is to educate boys in mind, body, and spirit. Our environment of both challenge and support emphasizes strong moral values, honest effort, and responsibility for oneself and community. Valuing difference, Belmont Hill welcomes students from a broad range of backgrounds and experiences. Through shared commitment to the classroom, playing field, studio, and stage, students and teachers forge special bonds. Respecting tradition yet alive to innovation, our structured and rigorous program provides students with clear expectations and consistent encouragement, a framework for growth that honors creativity, teamwork, and competition. Belmont Hill helps students to develop clear thinking and lifelong love of learning; to become sensitive and responsive to the complexities of modern society; to gain the skills, values, and courage to face the future with confidence; to embrace, both now and in later life, a spirit of working together to better the world. Belmont Hill School gives its students a strong, traditionally defined education, in a balanced, well rounded environment. The value of its core curriculum seems to have increased with time. The school's insistence on this traditional framework of excellence, in many ways simple and straightforward, gives the curriculum distinction, and continues to be its first principle in planning for the future. 472206 73339 677936 Educational institutions and related activities: Educated 805 boys and girls, ages 8 to 18, in a 6 week comprehensive and rigorous summer school or summer camp. Students take courses for remediation, for enrichment, and for academic credit here and at other schools. 0 0 0 29163647 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 97 0 1 264 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 X 34 33 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X Jay Bounty - Assistant Treasurer 6179935313 350 Prospect Street Belmont MA 024782662 Gregory J Schneider Ronald M. Druker '62 Head of School-Secretary 50 0 X X 598879 0 331674 Beverly Couglin Director of Development 50 0 X 372338 0 48502 Jay Bounty Assistant Treasurer CFO and Director of Operations 50 0 X 336069 0 53429 Caleb Collins Director of Community & Diversity 50 1 X 149240 0 150177 Michael Grant Assistant Head of School 50 0 X 169899 0 100113 Jay Fritz Director of Major and Planned Gifts 50 0 X 177849 0 56127 Donald Bradley Head of Upper School 50 0 X 187134 0 37085 Lauren Hamilton Director of Middle School 50 0 X 167978 0 19410 Jon Biotti President 1 0 X X 0 0 0 William Achtmeyer Vice President 1 0 X X 0 0 0 Anthony Ryan Treasurer 1 0 X X 0 0 0 Dewey Awad Trustee 1 0 X 0 0 0 Mark Chandler Trustee 1 0 X 0 0 0 Gretchen Cook-Anderson Trustee 1 0 X 0 0 0 Warren Cross Trustee 1 0 X 0 0 0 Carl Dawson Trustee 1 0 X 0 0 0 Groom Dinkneh Trustee 1 0 X 0 0 0 Jeffrey Drucker Trustee 1 0 X 0 0 0 Ronald Druker Trustee 1 0 X 0 0 0 Jean Egan Trustee 1 0 X 0 0 0 Daniel S Farb Trustee 1 0 X 0 0 0 William Forde Trustee 1 0 X 0 0 0 John Grady Trustee 1 0 X 0 0 0 Christopher Hadley Trustee 1 0 X 0 0 0 Danielle Heard Trustee 1 0 X 0 0 0 Jason Hurd Trustee 1 0 X 0 0 0 Stephen Karp Trustee 1 0 X 0 0 0 Jonathan Kraft Trustee 1 0 X 0 0 0 George Lynch Trustee 1 0 X 0 0 0 Emmet Lyne Trustee 1 0 X 0 0 0 Amy Madden Trustee 1 0 X 0 0 0 Carl Martignetti Trustee 1 0 X 0 0 0 Gregory Paul Trustee 1 0 X 0 0 0 Kelly Garvey Pellagrini Trustee 1 0 X 0 0 0 Sarah Pelmas Trustee 1 0 X 0 0 0 Taggart Romney Trustee 1 0 X 0 0 0 Jill Shah Trustee 1 0 X 0 0 0 Brian Shortsleeve Trustee 1 0 X 0 0 0 Margaret Wade Trustee 1 0 X 0 0 0 Herbert Wagner Trustee 1 0 X 0 0 0 John Conners Trustee 1 0 X 0 0 0 2159386 0 796517 50 0 1 0 Sodexo Inc and Affiliates PO Box 360170 Pittsburgh PA 15262 Food Services 1691999 Bedford Charter Services 11 Railroad Avenue Bedford MA 01730 Transportation Services 681440 Compass Facility Services 65 Jackman Street Georgetown MA 01833 Custodial Services 604263 Doug Rancourt 7 Priscilla Street Hopkington MA 01748 Electrician Services 346384 Reed Hilderbrand LLC 130 Bishop Allen Drive Cambridge MA 02139 Construction Services 221393 11 0 0 222271 0 0 11735430 -204700 11957701 Tuition and Fees 900099 26835908 26835908 0 0 Summer Programs 900099 677936 677936 0 0 Student Activities 900099 35785 35785 0 0 0 0 0 0 27549629 891011 0 44612 846399 0 0 0 0 0 0 0 0 312292 0 802440 0 -490148 0 -490148 0 -242465 -247683 11025278 38120 10380076 0 645202 38120 683322 645202 38120 0 33325 222271 61420 -28095 -28095 0 0 0 0 0 0 0 176981 216894 -39913 -39913 0 0 School Bus Transportation 900099 445846 445846 0 0 Program and Parent Alumni 900099 5225 5225 0 0 Insurance Dividents 900099 38602 38602 0 0 75602 75602 0 0 565275 41088782 28720193 -187828 598716 0 0 6356868 6356868 0 0 0 0 1399780 0 988115 411665 0 0 0 0 12104801 9007795 2336528 760478 1069054 838353 161925 68776 3014789 2024308 735267 255214 1022844 688249 248381 86214 0 0 0 0 30120 0 30120 0 70725 0 70725 0 0 0 0 0 0 0 146546 146546 0 0 1394468 1081265 297002 16201 109136 16396 92740 0 1417031 853980 288373 274678 718036 223748 430627 63661 0 0 0 0 2348475 2325085 23390 0 257240 223933 23340 9967 0 0 0 0 107996 65952 40918 1126 936630 936630 0 0 0 0 0 0 2653163 2653163 0 0 526863 73046 453817 0 Student Food Services 1269853 1269853 0 0 Entertainment 669267 117883 144213 407171 Printing 310568 75475 156022 79071 Postage and Membership 174551 61964 85159 27428 490329 123155 331634 35540 38599133 29163647 6938296 2497190 1000 1000 18259332 27080529 7906995 7594267 191744 235663 0 0 0 0 0 0 0 0 785505 1141283 104209935 45927860 58021037 58282075 29212636 24318464 102161236 121057922 0 0 0 0 179986 179986 216719471 239891189 1336832 1531967 3140238 3197155 36350218 36360280 0 0 0 0 0 0 40827288 41089402 X 147556646 167712657 28335537 31089130 175892183 198801787 216719471 239891189 X 2489649 20405209 0 0 0 14746 X 0 1 X 1 0 X 19848525 9263335 11578059 12286440 11957701 64934060 23467741 24671625 25505594 26854298 28291885 128791143 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 43316266 33934960 37083653 39140738 40249586 193725203 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 193725203 407920 423200 384405 199569 891011 2306105 -198807 -302203 -442664 60724 197853 -685097 209113 120997 -58259 260293 1088864 1621008 0 0 0 0 0 0 0 0 0 0 0 0 43525379 34055957 37025394 39401031 41338450 195346211 0.99170 0.99566 0.00830 0.00434 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 133310912 4993604 21371144 0 12423088 0 147252572 162560539 2486390 -26179562 0 5556455 0 133310912 126814721 2675250 38585956 0 5515388 0 162560539 131766070 1406451 2210050 0 8567850 0 126814721 125232107 3743469 8154219 0 5363725 0 131766070 0.844 0.118 0.038 0 0 8088841 0 8088841 74334102 0 31365033 42969069 9086566 0 5257109 3829457 7243808 0 6329162 914646 5456618 0 2976556 2480062 58282075 0 F 0 F Limited Partnership and Alternative Investments 120936722 F Real Estate 121200 F 121057922 56086077 20405209 0 0 1095500 21500709 34585368 146546 6356868 6503414 41088782 33176473 0 0 0 1080754 1080754 32095719 146546 6356868 6503414 38599133 Schedule D, Part V, Line 4 The endowment supports the educational mission of the school, by providing support for financial aid for students, faculty compensation and continuing education, school programs and facilities, as well as general support for school operations. Schedule D, Part XI, Line 2d Other adjustments are expenses which were netted out of revenue. Special events expense $ 61,420, Cost of goods sold $ 216,894 Rental expenses $ 802,440 and the Change in the Value of Split Interest Agreements $14,746. Schedule D, Part XI, Line 4b Other adjustments Financial Aid Grants $ 6,356,868. Schedule D, Part XII, Line 2d Other adjustments are expenses which were netted out of revenue. Special events expense $ 61,420, Cost of goods sold $ 216,894, Rental expenses $ 802,440. Schedule D, Part XII, Line 4b Other adjustments Financial Aid Grants $ 6,356,868. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 The Executive Committee of the Board of Trustees sits as a Compensation Committee when it meets in executive session to consider compensation for the Head of School. The Committee reports the results of its deliberation to the Board of Trustees. This process described is also used to determine compensation for other key employees, namely the CFO and Director of Operations and the Director of Development. Sawyer Golf Tournament 255596 222271 33325 0 0 2500 32150 0 26770 0 0 255596 222271 33325 0 0 2500 32150 0 26770 61420 -28095 1 Financial Aid for the school year. 141 6283529 0 Determined by need Tuition aid and discounts for Summer Program reciepients. 309 73339 0 Tuition discounts Schedule I, Part I, Line 2 Financial aid is awarded to students on the basis of financial need in an objective and non-discriminatory manner. To be considered for a financial aid grant for their children, parents must furnish 1. A copy of their most recent federal tax return 2. A completed "Parents Financial Statement" provided by the school and the student service for financial aid (SSS). SSS analyzes the "Parents Financial Statement" then makes a recommendation regarding financial need to the school for its consideration. The school makes determinations of financial aid based upon this information, sometimes adjusted to reflect supplemental information provided by the family. X X 1 1 X 0 0 0 0 0 0 0 0 0 Gregory J Schneider Ronald M. Druker '62 Head of School-Secretary 414900 0 160149 0 23830 0 24400 0 307274 0 930553 0 0 0 Beverly Couglin Director of Development 370923 0 1415 0 0 0 36600 0 11902 0 420840 0 0 0 Jay Bounty Assistant Treasurer CFO and Director of Operations 313074 0 1415 0 21580 0 30500 0 22929 0 389498 0 0 0 Donald Bradley Head of Upper School 173108 0 1398 0 12628 0 21300 0 15785 0 224219 0 0 0 Jay Fritz Director of Major and Planned Gifts 176151 0 1398 0 300 0 20394 0 35733 0 233976 0 0 0 Michael Grant Assistant Head of School 168501 0 1398 0 0 0 21330 0 78783 0 270012 0 0 0 Lauren Hamilton Director of Middle School 165500 0 1398 0 1080 0 19410 0 0 0 187388 0 0 0 Caleb Collins Director of Community & Diversity 107876 0 1530 0 39834 0 12994 0 137183 0 299417 0 0 0 Schedule J, Part I, Line 1a Gregory J. Schneider is required to stay on campus to perform his duties as Head of School. Included in Gregory J Schneider's column D for 2022 is the rental value of his house plus utilities totaling $120,000 along with $21,600 for housekeeping's charge to clean the house. Schedule J, Part I, Line 3 The Executive Committee of the Board of Trustees sits as a Compensation Committee when it meets in executive session to consider compensation for the Head of School. The Committee reports the results of its deliberation to the Board of Trustees. This process described is also used to determine compensation for other key employees, namely the CFO and Director of Operations and the Director of Development. A Massachusetts Development Finance Agency 043431814 000000000 2012-08-09 7423000 Advance refund Series 2007 bonds 0 0 0 B Massachesetts Development Finance Agency 043431814 000000000 2017-10-02 29132000 Refund of Series A 2012 taxable bonds 0 0 0 A 0 0 7423000 0 0 0 42858 0 0 0 0 0 0 1 1 1 B 0 0 29132000 0 0 0 188677 0 0 0 0 0 0 1 1 1 A 0 0 0 0 0.026 0.0165 0.0425 0 0 1 B 0 0 0 0 0.026 0.0165 0.0425 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 Schedule K, Part IV, Line 2c-08/09/2012 7,423,000 Massachusetts Development Finance Agency The proceeds were used to advance refund a portion of the School's Series 2007 bonds. By verification report dated August 9, 2012, issued by Causey Demkin & Moor P.C., the yield on the Series 2018B bonds is in excess of the yield of the U.S. Treasury Securities held in escrow to pay the department service requirement of the Series 2007 bonds. Accordingly, the Series 2012B bonds is not an "arbitage bond" under Section 148 of the Internal Revenue Code of 1986, as amended Schedule K, Part IV, Line 2c-10/02/2017 29,132,000 Massachesetts Development Finance Agency Rebate computation not performed because bond issue qualified for 6 month exception to repate under Section 148(f)(4)(B) of the Internal Revenue Service Code of 1986, as amended. X 20 122774 FMV on date of gift X Changes in Pledges 1 -327474 NPV of Pledges 0 1 0 Form 990, Part VI, Section B, Line 11b Prior to filing, the form 990 was reviewed by the Audit Committee of the Board of Trustees and then posted on the trustee portal on the School's website. Trustees were invited to review the form 990 online prior to filing. Form 990, Part VI, Section B, Line 12c Every year the School sends a conflict of interest questionnaire to trustees, members of trustee committees, and employees with decision making authority. The results of the survey are reviewed by the Audit Committee of the Board of Trustees. Form 990, Part VI, Section B, Line 15 The Executive Committee of the Board of Trustees sits as a Compensation Committee when it meets in executive session to consider compensation for the Head of School. The Committee reviews comparison compensation data for similar schools. The Committee reports the results of its deliberation to the Board of Trustees. This process described is also used to determine compensation for other officers, namely the CFO, and key employees, namely the Director of Development. Form 990, Part VI, Section C, Line 19 These documents are available to the public on request to the Business Office, Belmont Hill School, Inc. at 350 Prospect Street in Belmont, MA 02478. These documents are also available for public inspection on the website of the Attorney General of the Commonwealth of Massachusetts at http://www.charities.ago.state.ma.us/ and also at Guidestar at http://www2.guidestar.org. Form 990, Part XI, Line 9 Other changes in net assets equals the change in split interest agreements. BH Management LLC Belmont Hill School Inc 350 Prospect Street Belmont MA 024782662 273076572 Real Estate MA 34218 -4835150 Belmont Hill School Inc 31 Marsh Street LLC Belmont Hill School Inc 350 Prospect Street Belmont MA 024782662 001541208 Real Estate MA 0 2391665 Belmont Hill School Inc Extension filed.