2025-04-08T15:02:55-05:00 2024-06-30 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 021293742 990 2023-07-01 041200600 CONCORD ACADEMY CONC 9784022200 166 MAIN ST CONCORD MA 01742 AMY MILLER-FREDERICKS CFOO 9784022200 2025-04-08 1 0 REBEKUH ELEY P01247672 6179129000 2023 2025-03-06 01:10:19Z HENRY FAIRFAX 166 MAIN ST CONCORD MA 01742 144962326 0 X WWW.CONCORDACADEMY.ORG X 1922 MA CONCORD ACADEMY IS A FOUR-YEAR, NONPROFIT, COEDUCATIONAL, BOARDING AND DAY COLLEGE-PREPARATORY SCHOOL CONSISTING OF GRADES NINE THROUGH TWELVE. THE 2023-24 ENROLLMENT WAS COMPOSED OF 419 STUDENTS, 162 OF WHOM WERE BOARDING STUDENTS AND 257 OF WHOM WERE DAY STUDENTS. ENROLLMENT FOR THE 2023-24 YEAR CONSISTED OF STUDENTS FROM 12 STATES/TERRITORIES AND 13 FOREIGN COUNTRIES. 30 28 399 360 20467 8177 10593673 18585896 25644491 28951791 1197920 6066860 160410 136527 37596494 53741074 5284219 5950493 0 0 18152050 19646706 0 0 1463699 12152935 11448144 35589204 37045343 2007290 16695731 177453653 203071551 24771415 27940862 152682238 175130689 X CONCORD ACADEMY IS A COMMUNITY ANIMATED BY LOVE OF LEARNING, DIVERSE AND STRIVING FOR EQUITY, WITH COMMON TRUST AS OUR FOUNDATION. HONORING EACH INDIVIDUAL, WE CHALLENGE AND EXPAND OUR UNDERSTANDING OF OURSELVES AND THE WORLD THROUGH PURPOSEFUL COLLABORATION AND CREATIVE ENGAGEMENT. CONCORD ACADEMY CULTIVATES EMPATHY, INTEGRITY, AND RESPONSIBILITY TO BUILD A MORE JUST AND SUSTAINABLE FUTURE. 0 0 29091183 5950493 28994689 SECONDARY EDUCATION: 419 STUDENTS IN GRADES 9 THROUGH 12; EDUCATIONAL PROGRAMS, GENERAL/OTHER: SUMMER CAMP 8-WEEK PROGRAM FOR CHILDREN IN GRADES PRE-K THROUGH 9. 29091183 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 1 109 0 1 399 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 30 28 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X X AMY MILLER-FREDERICKS CFOO 9784022200 166 MAIN ST CONCORD MA 01742 HENRY FAIRFAX HEAD OF SCHOOL 55.00 0.00 X X 450063 0 167904 SUNREDI ADMADJAJA TRUSTEE 1.00 0.00 X 0 0 0 TESS MUNRO BAUTA TRUSTEE 1.00 0.00 X 0 0 0 CHARLES CARTER TRUSTEE 1.00 0.00 X 0 0 0 TRELANE CLARK TRUSTEE 1.00 0.00 X 0 0 0 IRENE CHU TRUSTEE 1.00 0.00 X 0 0 0 JANE DU TRUSTEE 1.00 0.00 X 0 0 0 RACHEL LIPSON GLICK TRUSTEE 1.00 0.00 X 0 0 0 DENNIS GOLDSTEIN TRUSTEE 1.00 0.00 X 0 0 0 ALEXIS GOLTRA TRUSTEE 1.00 0.00 X 0 0 0 KERRY HOFFMAN TRUSTEE 1.00 0.00 X 0 0 0 NICOLE KOCH TRUSTEE 1.00 0.00 X 0 0 0 STEPHEN KRAMARSKY TRUSTEE 1.00 0.00 X 0 0 0 BRENDAN LARGAY TRUSTEE 1.00 0.00 X 0 0 0 PAULINE LIN TRUSTEE 1.00 0.00 X 0 0 0 PODIE LYNCH TRUSTEE 1.00 0.00 X 0 0 0 KAREN MCALMON TRUSTEE 1.00 0.00 X 0 0 0 CAROL MORIARTY TRUSTEE 1.00 0.00 X 0 0 0 ANDY ORY TRUSTEE 1.00 0.00 X 0 0 0 DERRICK YAT BOND PANG TRUSTEE 1.00 0.00 X 0 0 0 IMANI PERRY TRUSTEE 1.00 0.00 X 0 0 0 ASHLEY SHIH TRUSTEE 1.00 0.00 X 0 0 0 LY TRAN TRUSTEE 1.00 0.00 X 0 0 0 JENNIFER J BURLEIGH CO-PRESIDENT 3.00 0.00 X X 0 0 0 JENNIFER A PLINE CO-PRESIDENT 3.00 0.00 X X 0 0 0 KEVIN PARKE FIRST VICE PRESIDENT 3.00 0.00 X X 0 0 0 SEAN M DALTON VICE PRESIDENT 3.00 0.00 X X 0 0 0 JOHN GROSSMAN VICE PRESIDENT 3.00 0.00 X X 0 0 0 JONATHAN DESIMONE TREASURER 3.00 0.00 X X 0 0 0 CAROLYN STAFFORD STEIN SECRETARY 3.00 0.00 X X 0 0 0 AMY MILLER-FREDERICKS CHIEF FINANCIAL & OPERATING OFFICER 55.00 0.00 X 286312 0 78874 SARAH YEH ASSOCIATE HEAD FOR TEACHING, LEARNING & FACULTY 55.00 0.00 X 248570 0 84135 ALICE R ROEBUCK ASS HEAD FOR ADVANCEMENT & ENGMT. (UNTIL 1/5/24) 55.00 0.00 X 262467 0 20935 CHRISTINE H FLASHNER INT DIR OF ADVANCEMENT & ENGMT. (FROM 1/29/24) 55.00 0.00 X 158481 0 56297 MICHAEL MCSORLEY DIRECTOR OF OPERATIONS 55.00 0.00 X 170587 0 78226 DONALD KINGMAN DIR OF CAMPUS PLANNING, DESIGN & CONSTRUCTION 55.00 0.00 X 176473 0 64881 HEATHER SULLIVAN DIRECTOR OF MARKETING & COMM. (UNTIL 5/30/24) 55.00 0.00 X 154164 0 35946 FRANCIS GALLAGHER CONTROLLER 55.00 0.00 X 151813 0 24671 DAVID LEACH DIRECTOR OF ADMINISTRATIVE SYSTEMS 55.00 0.00 X 144806 0 11438 2203736 0 623307 34 0 1 0 MJ CATALDO INC PO BOX 1343 LITTLETON MA 01460 CONSTRUCTION SERVICES 2693913 SODEXO INC & AFFILIATES PO BOX 360170 PITTSBURGH PA 15251 FOOD SERVICES 1898203 WINDOVER CONSTRUCTION INC 66 CHERRY HILL DRIVE BEVERLY MA 01915 CONSTRUCTION SERVICES 1863041 DEWING SCHMID KEARNS 30 MONUMENT SQUARE SUITE 200B CONCORD MA 01742 ARCHITECTURAL SERVICES 1238260 OUNCE IT LLC 205 NEWBURY ST SUITE 202 FRAMINGHAM MA 01701 IT SERVICES 735291 20 18585896 844675 18585896 TUITION & FEES/SUMMER 611110 28951791 28951791 28951791 2324805 20467 2304338 83000 0 83000 83000 83000 94963307 91221252 3742055 3742055 3742055 REUNION REGISTRATIONS 611110 27640 27640 PERFORMING ARTS 611110 12630 12630 CREDIT CARD REBATES 611110 10629 10629 2628 2628 53527 53741074 28992061 20467 6142650 10000 10000 5940493 5940493 1755643 310198 1067256 378189 13556189 10680685 2407541 467963 841062 626971 188918 25173 2430450 1881690 423135 125625 1063362 772675 234131 56556 62663 62663 110865 110865 389717 389717 1624393 1223913 330873 69607 126835 817 85146 40872 453103 244090 143803 65210 167660 98795 62567 6298 1062750 1009229 32437 21084 374217 231152 130489 12576 212220 113053 83899 15268 322941 305565 10531 6845 2388849 2260317 77899 50633 258466 258466 FOOD 2227215 2140216 63590 23409 EQUIPMENT 828688 787703 26207 14778 DUES & SUBSCRIPTIONS 304935 134628 100854 69453 UBI TAX EXPENSE 40000 40000 492627 318993 159474 14160 37045343 29091183 6490461 1463699 3600 3300 22468096 18207914 8833294 14291348 429040 12026 8550 29570 21420 603032 708548 100953708 40808607 45100142 60145101 53721329 58270398 44714398 49806533 1539126 1608439 177453653 203071551 1596598 4646064 9489101 9984089 12605653 12216293 1080063 1094416 24771415 27940862 X 67168240 72407040 85513998 102723649 152682238 175130689 177453653 203071551 X 16695731 5618135 134585 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 91385880 3067542 10146144 959164 3190836 100449566 86526570 841687 8101623 916512 3167488 91385880 94564831 2605448 -6852709 829365 2961635 86526570 80021483 1890094 16209254 728454 2827546 94564831 80169190 4053596 -941303 625137 2634863 80021483 0.28500 0.54600 0.16900 0 0 8171694 8171694 65877773 36253544 29624229 6301632 4544050 1757582 20602609 11013 20591596 60145101 HIGH QUALITY FIXED INCOME 14150503 F PRIVATE EQUITY 15332463 F REAL ASSET 3300142 F DIRECT LENDING 9568172 F GLOBAL EQUITY 7455253 F 49806533 CAPITAL LEASE OBLIGATIONS 2579 HOUSING DEPOSITS 38576 ACTIVITIES ACCOUNT 517957 REGRISTRATION DEPOSITS 500920 INSURANCE DEPOSITS 34384 1094416 X 53683364 5618135 -5286128 332007 53351357 389717 389717 53741074 31234913 0 31234913 389717 5420713 5810430 37045343 PART V, LINE 4: THE ENDOWMENT FUNDS ARE TO BE USED IN FURTHERANCE OF THE ACADEMY'S EXEMPT PURPOSES. PART X, LINE 2: THE ACADEMY QUALIFIES AS A TAX-EXEMPT, NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "CODE") AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAX ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE INCOME TAX HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ACADEMY IS SUBJECT TO FEDERAL AND STATE INCOME TAXES ON UNRELATED BUSINESS INCOME. THE ACADEMY FOLLOWS FASB ASC 740, INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES BY PRESCRIBING THE RECOGNITION THRESHOLD A TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. THE ACADEMY RECOGNIZES A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT EVALUATED THE ACADEMY'S TAX POSITIONS AND CONCLUDED THAT THE ACADEMY HAS NO MATERIAL UNCERTAINTIES IN INCOME TAXES. UNDER INTERNAL REVENUE SERVICE REGULATIONS, WITH FEW EXCEPTIONS, THE ACADEMY IS ONLY SUBJECT TO INCOME TAX EXAMINATIONS BY THE FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR THREE YEARS FROM THE FILING DATE. THE ACADEMY WILL ACCOUNT FOR INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, AS PART OF TAX EXPENSE. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 134,585. FINANCIAL AID GRANTS NETTED WITH REVENUE ON FINANCIAL STATEMENTS -5,420,713. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID GRANTS NETTED WITH REVENUE ON FINANCIAL STATEMENTS 5,420,713. 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 FOLLOWING STATEMENT IS MADE AVAILABLE ON THE SCHOOL'S WEBSITE: CONCORD ACADEMY ADMITS STUDENTS OF ANY RACE, COLOR, GENDER, RELIGION, SEXUAL ORIENTATION, AND NATIONAL AND ETHNIC ORIGIN TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE SCHOOL. THE SCHOOL DOES NOT DISCRIMINATE ON THE BASIS OF DISABILITY, RACE, GENDER, RELIGION, SEXUAL ORIENTATION, COLOR, OR NATIONAL AND ETHNIC ORIGIN IN THE ADMINISTRATION OF ITS EDUCATIONAL AND ADMISSION POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, AND ATHLETICS AND OTHER SCHOOL-ADMINISTERED PROGRAMS AND ACTIVITIES. CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 7535729 EUROPE (INCLUDING ICELAND & GREENLAND) INVESTMENTS 3444924 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM SERVICES ADMISSIONS RECRUITING 8146 EUROPE (INCLUDING ICELAND & GREENLAND) PROGRAM SERVICES ADMISSIONS RECRUITING 6805 EAST ASIA AND THE PACIFIC PROGRAM SERVICES/FUNDRAISING ADMISSIONS RECRUITING/CA EVENTS & UPDATES 74120 0 0 0 0 0 0 11069724 0 11069724 1 0 1 1 1 0 1 CONCORD FREE PUBLIC LIBRARY CORPORATION 129 MAIN STREET CONCORD MA 01742 042121328 501(C)(3) 10000 0 FMV CAPITAL CAMPAIGN 1 TUITION GRANTS 102 5477995 DIFFERENCE AFTER EXPECTED FAMILY CONTRIBUTION PER FINANCIAL AID (FA) GRANTS DEDUCTED FROM SCHOOL TUITION MUSIC LESSON FINANCIAL AID 37 59278 PERCENTAGE OF FINANCIAL AID AWARD FINANCIAL AID DEDUCTED FROM MUSIC LESSON FEES HEALTH INSURANCE FINANCIAL AID 28 109558 PERCENTAGE OF FINANCIAL AID AWARD FINANCIAL AID DEDUCTED FROM STUDENT HEALTH INSURANCE COSTS MONTHLY SUPPLEMENTAL FOR INCIDENTALS 31 22320 TRAVEL EXPS - FA STUDENTS TIX PURCHASED ON THEIR BEHALF TO/FROM HOME; SUMMER PROGRAM/TRAVEL EXPENSE 20 4925 8623 CASH REIMBURSEMENTS TRAVEL EXPENSES PURCHASED FOR STUDENTS BY DIRECTORS OF FA ON STUDENT'S BEHALF FA STUDENTS COMPUTER GRANTS/COMPUTER SUPPLIES 35 23610 2558 CASH REIMBURSEMENTS SUPPLIES PURCHASED FOR STUDENTS BY DIRECTORS OF FA ON STUDENT'S BEHALF ACTIVITIES ACCOUNT GRANTS 112 136930 ESTIMATE FOR STUDENT RELATED BOOK AND INCIDENTAL EXPENSES FA DEDUCTED FROM STUDENT INCIDENTAL CHARGES STUDENT TRIP GRANTS 24 0 91925 PERCENTAGE OF FINANCIAL AID AWARD FINANCIAL AID DEDUCTED FROM STUDENT TRIP COSTS TRAVEL EXP REIMB - FA PARENT/GUARDIAN TO/FROM CA EVENTS 5 1400 1371 CASH REIMBURSEMENTS TRAVEL EXPENSES PURCHASED FOR GUARDIANS BY DIRECTORS OF FA ON THEIR BEHALF PART I, LINE 2: CONCORD ACADEMY AWARDED FINANCIAL ASSISTANCE TO 112 STUDENTS INCLUDING TUITION GRANTS AND ASSISTANCE FOR MUSIC LESSONS, HEALTH INSURANCE, BOOKSTORE PURCHASES, TRANSPORTATION AND MISCELLANEOUS EXPENSES. ASSISTANCE IS AWARDED ON A FINANCIAL NEED BASIS THROUGH THE FINANCIAL AID OFFICE. THE DIRECTORS OF FINANCIAL AID AND THE FINANCE OFFICE STAFF ADMINISTER AND MONITOR ALL GRANTS AND STUDENT SPENDING ON A MONTHLY BASIS. THE FINANCIAL AID DIRECTORS MEET MONTHLY WITH EACH FINANCIAL AID RECIPIENT TO REVIEW SPENDING. X X 1 1 X X X X 1 1 0 0 0 0 0 0 0 HENRY FAIRFAX HEAD OF SCHOOL 449823 0 0 0 240 0 72500 0 95404 0 617967 0 0 0 AMY MILLER-FREDERICKS CHIEF FINANCIAL & OPERATING OFFICER 284728 0 0 0 1584 0 46220 0 32654 0 365186 0 0 0 SARAH YEH ASSOCIATE HEAD FOR TEACHING, LEARNING & FACULTY 248210 0 0 0 360 0 39329 0 44806 0 332705 0 0 0 ALICE R ROEBUCK ASS HEAD FOR ADVANCEMENT & ENGMT. (UNTIL 1/5/24) 262107 0 0 0 360 0 20935 0 0 0 283402 0 0 0 MICHAEL MCSORLEY DIRECTOR OF OPERATIONS 170398 0 0 0 189 0 14460 0 63766 0 248813 0 0 0 DONALD KINGMAN DIR OF CAMPUS PLANNING, DESIGN & CONSTRUCTION 174743 0 0 0 1730 0 15018 0 49863 0 241354 0 0 0 CHRISTINE H FLASHNER INT DIR OF ADVANCEMENT & ENGMT. (FROM 1/29/24) 158205 0 0 0 276 0 14343 0 41954 0 214778 0 0 0 HEATHER SULLIVAN DIRECTOR OF MARKETING & COMM. (UNTIL 5/30/24) 153825 0 0 0 339 0 0 0 35946 0 190110 0 0 0 FRANCIS GALLAGHER CONTROLLER 151692 0 0 0 121 0 12449 0 12222 0 176484 0 0 0 DAVID LEACH DIRECTOR OF ADMINISTRATIVE SYSTEMS 143396 0 0 0 1410 0 11438 0 0 0 156244 0 0 0 PART I, LINE 1A CONCORD ACADEMY IS A COEDUCATIONAL BOARDING AND DAY SCHOOL. AS A REQUIREMENT OF EMPLOYMENT, SOME FACULTY AND STAFF LIVE IN SCHOOL-OWNED HOUSING WHICH IS A NONTAXABLE BENEFIT TO THEM. LISTED EMPLOYEES WHO RECEIVE THIS HOUSING INCLUDE THE HEAD OF SCHOOL, THE DIRECTOR OF OPERATIONS, THE DIRECTOR OF CAMPUS PLANNING, DESIGN & CONSTRUCTION, AND THE ASSOCIATE HEAD FOR TEACHING, LEARNING AND FACULTY. CONCORD ACADEMY PAID CERTAIN EXPENSES ON BEHALF OF THE HEAD OF SCHOOL, HENRY FAIRFAX, FOR COMPANION EXPENSES WHICH ARE NONTAXABLE TO THE HEAD OF SCHOOL. CERTAIN TRANSPORTATION EXPENSES WERE INCURRED FOR THE HEAD OF SCHOOL'S SPOUSE IN RELATION TO CONCORD ACADEMY PLANNED EVENTS. PART I, LINE 3 THE CONCORD BOARD OF TRUSTEES COMPENSATION COMMITTEE REVIEWS AND DELIBERATES COMPENSATION FOR THE HEAD OF SCHOOL USING PEER SCHOOL DATA AND FINANCIAL REPORTING (FORM 990) AND OTHER EXTERNAL SOURCES. KEY EMPLOYEE JOB PERFORMANCE, INCLUDING THE CFOO, INTERIM DIRECTOR OF ADVANCEMENT & ENGAGEMENT, ASSOCIATE HEAD FOR TEACHING, LEARNING, AND FACULTY, AND ASSISTANT HEAD FOR ADVANCEMENT AND ENGAGEMENT, IS EVALUATED BY THE HEAD OF SCHOOL. THE COMPENSATION PROCESS INVOLVES ATTENTION TO AND AVOIDANCE OF CONFLICTS OF INTEREST AS WELL AS THE USE OF COMPARABILITY DATA GATHERED AND GENERATED THROUGH AN EXTERNAL DATABASE. SUCH DECISIONS ARE DOCUMENTED. PART I, LINES 4A-B HENRY FAIRFAX, HEAD OF SCHOOL, PARTICIPATES IN THE ACADEMY'S NONQUALIFIED RETIREMENT PLAN (SEC. 457F PLAN). THE ACADEMY ACCRUED $50,000 UNDER THE PLAN AS OF JUNE 30, 2024. THIS AMOUNT IS REPORTED IN PART II, COLUMN C. ALICE ROEBUCK, ASSISTANT HEAD FOR ADVANCEMENT & ENGAGEMENT, LEFT CONCORD ACADEMY IN JANUARY 2024 AND RECEIVED A SEVERANCE OF $154,136. THE SEVERANCE PAYMENT IS REFLECTED ON ALICE'S 2024 FORM W-2. HEATHER SULLIVAN, DIRECTOR OF MARKETING AND COMMUNICATIONS, LEFT CONCORD ACADEMY IN MAY 2024 AND RECEIVED A SEVERANCE OF $29,183. THE SEVERANCE PAYMENT IS REFLECTED ON HEATHER'S 2024 FORM W-2. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2020-03-01 14045589 SEE PART VI 0 0 0 B MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2022-03-01 7000000 SEE PART VI 0 0 0 A 1632533 14045589 14045589 1 0 1 1 B 7000000 51000 6949000 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 1 A 1 B 1 SCHEDULE K, PART I, BOND ISSUES: (A) ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY (F) DESCRIPTION OF PURPOSE: TO REFINANCE THE SERIES 2017A BONDS AND THE SERIES 2017B BONDS. SCHEDULE K, PART I, BOND ISSUES: (B) ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY (F) DESCRIPTION OF PURPOSE: TO FINANCE THE CONSTRUCTION, FURNISHING AND EQUIPPING OF CENTENNIAL ARTS CENTER BUILDING. MASSACHUSETTS DEVELOPMENT FINANCE AGENCY MADE AVAILABLE UP TO $7,000,000 IN REVENUE BONDS (THE SERIES 2022 BONDS) AND ARE AVAILABLE FOR THE ACADEMY TO DRAW DOWN UPON THROUGH MARCH 2025. AS OF JUNE 30, 2024, THE ACADEMY HAD DRAWN DOWN $51,000. THE ACADEMY INTENDS TO DRAW THE REMAINING BALANCE IN FULL DURING FISCAL YEAR 2025. SEE PART V SEE PART V 467000 SEE PART V 0 SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: JOHN MORIARTY & ASSOCIATES, INC.(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: ENTITY MORE THAN 35% OWNED BY A SPOUSE OF TRUSTEE CAROL MORIARTY.(D) DESCRIPTION OF TRANSACTION: THE ACADEMY WORKED WITH JOHN MORIARTY & ASSOCIATES, INC. ON AN ONGOING CAPITAL PROJECT. THE COMPANY BOUGHT MATERIALS ON BEHALF OF THE ACADEMY AND PASSED THROUGH THE COST TO THE ACADEMY. X 54 844675 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS OF PUBLICLY TRADED SECURITIES IS BASED ON THE NUMBER OF GIFTS OF SECURITIES RECEIVED. FORM 990, PART VI, SECTION B, LINE 11B UPON COMPLETION OF THE 2023 FORM 990, THE ENTIRE FORM IS FIRST REVIEWED BY MANAGEMENT; SOON AFTER, THE FORM, NOT INCLUDING SCHEDULE B, IS REVIEWED WITH THE CHAIR OF THE AUDIT COMMITTEE; THEN THE FORM, NOT INCLUDING SCHEDULE B, IS PRESENTED IN A MEETING WITH ALL MEMBERS OF THE AUDIT COMMITTEE OF THE CONCORD ACADEMY BOARD OF TRUSTEES FOR REVIEW, DISCUSSION, INCLUDING ANY PROPOSED CHANGES, AND APPROVAL. AFTER APPROVAL AND BEFORE FILING WITH THE IRS, THE FORM, NOT INCLUDING SCHEDULE B, IS MADE AVAILABLE TO EACH BOARD MEMBER ON THE CONCORD ACADEMY TRUSTEE WEBSITE. FORM 990, PART VI, SECTION B, LINE 12C IN OCTOBER OF EACH YEAR NEW AND RETURNING TRUSTEES ARE ASKED TO COMPLETE A CONFLICT OF INTEREST FORM ELECTRONICALLY WHICH IS THEN MADE AVAILABLE TO THE CHIEF OF STAFF. ONCE RETURNED, EACH FORM IS REVIEWED BY THE CHIEF OF STAFF AND ANY EXCEPTIONS ARE REPORTED TO THE HEAD AND CFOO TO ENSURE COMPLIANCE. IN THE EVENT OF A CONFLICT, SAID CONFLICT WOULD BE DISCUSSED WITH THE COMMITTEE ON TRUSTEES AND/OR LEGAL COUNSEL TO DETERMINE HOW TO PROCEED. AN ELECTRONIC RECORD OF THE RESPONSES IS SAVED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE CONCORD BOARD OF TRUSTEES COMPENSATION COMMITTEE REVIEWS AND DELIBERATES COMPENSATION FOR THE HEAD OF SCHOOL USING PEER SCHOOL DATA AND FINANCIAL REPORTING (FORM 990) AND OTHER EXTERNAL SOURCES. KEY EMPLOYEE JOB PERFORMANCE, INCLUDING THE CFOO, THE INTERIM DIRECTOR OF ADVANCEMENT & ENGAGEMENT, ASSOCIATE HEAD FOR TEACHING, LEARNING AND FACULTY, AND ASSISTANT HEAD FOR ADVANCEMENT AND ENGAGEMENT, IS EVALUATED BY THE HEAD OF SCHOOL. THE COMPENSATION PROCESS INVOLVES ATTENTION TO AND AVOIDANCE OF CONFLICTS OF INTEREST AS WELL AS THE USE OF COMPARABILITY DATA GATHERED AND GENERATED THROUGH AN EXTERNAL DATABASE. SUCH DECISIONS ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE THESE DOCUMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: CHANGES IN VALUE OF SPLIT-INTEREST AGREEMENTS 134,585. CHARITABLE REMAINDER TRUSTS (1) CHARITABLE TRUST MA CONCORD ACADEMY 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0