2024-05-08T09:56:59-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN 29 SOUTH MAIN STREET 4TH FLOOR WEST HARTFORD CT 06107 990 2022-07-01 042104242 FRIENDS ACADEMY INC FRIE 5089991356 1088 TUCKER ROAD NORTH DARTMOUTH MA 02747 HANH NGUYEN DIR. OF FINANCE AND OPERATIONS 5089991356 2024-05-07 1 HANH NGUYEN 999009999 0 JOHN TOSCANO P00358542 8605614000 2024-05-10 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z BENJAMIN KENNEDY 1088 TUCKER ROAD NORTH DARTMOUTH MA 02747 10007180 0 X HTTPS://WWW.FRIENDSACADEMY.ORG/ X 1810 MA THE TRUSTEES OF FRIENDS ACADEMY IS A CO-EDUCATIONAL, INDEPENDENT DAY SCHOOL SERVING STUDENTS IN PRESCHOOL THROUGH GRADE EIGHT. THE MISSION OF FRIENDS ACADEMY IS TO PROVIDE EACH STUDENT WITH AN EDUCATIONAL FOUNDATION THAT WILL INSTILL THE ACADEMIC KNOWLEDGE AND SKILLS, RESPONSIBLE CITIZENSHIP, RESPECT FOR DIVERSITY AND DIFFERENCES, AND A SENSE OF WELL-BEING NEEDED FOR A LIFETIME OF LEARNING AND PERSONAL GROWTH. 14 14 120 16 0 0 1344543 2203240 7124664 7740897 252583 55217 120429 -2584 8842219 9996770 1881325 1901088 0 0 4515558 4993237 0 0 223315 1580906 2104949 7977789 8999274 864430 997496 16338218 18198947 6107006 6514209 10231212 11684738 X THE MISSION OF THE TRUSTEES OF FRIENDS ACADEMY IS TO PROVIDE EACH STUDENT WITH AN EDUCATIONAL FOUNDATION THAT WILL INSTILL THE ACADEMIC KNOWLEDGE AND SKILLS, RESPONSIBLE CITIZENSHIP, RESPECT FOR DIVERSITY AND DIFFERENCES, AND A SENSE OF WELL BEING NEEDED FOR A LIFETIME OF LEARNING AND PERSONAL GROWTH. 0 0 7017763 1901088 7738113 PROVIDE EDUCATION TO 232 STUDENTS ATTENDING EARLY CHILDHOOD THROUGH EIGHTH GRADE. 7017763 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 14 0 1 120 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X X HANH NGUYEN 5089991356 1088 TUCKER ROAD NORTH DARTMOUTH MA 02747 BENJAMIN KENNEDY HEAD OF SCHOOL 40.00 X 228843 0 81376 HANH NGUYEN DIRECTOR OF FINANCE AND OPERATIONS 40.00 X 92488 0 8050 JAMIE ROSS-CORY HEAD OF LOWER SCHOOL 40.00 X 112258 0 9158 MARY VAN PELT PRESIDENT 5.00 X X 0 0 0 AIDEN FITZGERLAD TRUSTEE 1.00 X X 0 0 0 JAIME BARNES TREASURER 5.00 X X 0 0 0 SARAH ROSE SECRETARY 1.00 X X 0 0 0 PETER CALDWELL TRUSTEE 1.00 X 0 0 0 EDWARDNED CARNEY TRUSTEE 1.00 X 0 0 0 PETER DAVIES TRUSTEE 1.00 X 0 0 0 MAUREEN DECKER TRUSTEE 1.00 X 0 0 0 CHAD POWERS TRUSTEE 1.00 X 0 0 0 WILLAIM PRESCOTT TRUSTEE 1.00 X 0 0 0 ALICE ROOT TRUSTEE 1.00 X 0 0 0 ELIZABETH ROY TRUSTEE 1.00 X 0 0 0 BEN SHATTUCK TRUSTEE 1.00 X 0 0 0 HILARY VINEYARD TRUSTEE 2.00 X 0 0 0 433589 0 98584 2 0 1 0 YOUR PART-TIME CONTROLLER 1500 WALNUT SUITE 1200 PHILADELPHIA PA 19102 ACCOUNTING 114815 1 2203240 5724 2203240 TUITION 611600 6970281 6970281 STUDENT SUPPORT SERVIC 611600 770616 770616 7740897 55217 55217 200 0 200 200 200 7466 10410 -2944 -2944 MISCELLANEOUS INCOME 611600 160 160 160 9996770 7738113 0 55417 1901088 1901088 510175 96191 358123 55861 3697185 3017234 608390 71561 102266 80083 20577 1606 388984 356274 31745 965 294627 210707 74871 9049 30044 30044 218043 218043 14101 14101 121241 47883 73358 268837 170383 95650 2804 497917 416503 57798 23616 25485 25485 384587 326899 38459 19229 65184 53324 8796 3064 EDUCATION PROGRAM EXPEN 244758 244758 CURRICULUM ENRICHMENT 99735 70271 17142 12322 BANK SERVICE CHARGES 48483 48483 COMMUNICATIONS 32905 680 32189 36 53629 30427 23202 8999274 7017763 1758196 223315 1702837 914192 1158901 1907472 1050291 4059272 3484056 214594 159153 13357800 7006256 5530251 6351544 3672363 4332239 16338218 18198947 362707 942881 4992357 4530406 748725 681241 3217 359681 6107006 6514209 X 7035719 6351422 3195493 5333316 10231212 11684738 16338218 18198947 997496 456030 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3924041 64427 449764 47288 52712 4338232 4197652 250500 -524111 3924041 3365945 15056 916651 25847 74153 4197652 3477504 3587 61134 45560 130720 3365945 3363209 1900 282976 43652 126929 3477504 0.40190 0.59810 0.00000 0 0 272136 272136 10565179 5846271 4718908 1375612 1159985 215627 1144873 1144873 6351544 MULTI-STRATEGY EQUITY FUND 3213809 F MULTI-STRATEGY BOND FUND 1118430 F 4332239 REFUNDABLE ADVANCE 359681 359681 X 8548021 456030 -1901088 -1445058 9993079 14101 -10410 3691 9996770 7094495 0 7094495 14101 1890678 1904779 8999274 PART V, LINE 4: ENDOWMENT FUNDS INTENDED PURPOSES ARE FOR LIBRARY, FINANCIAL AID, MISCELLANEOUS SUPPORT OF SCHOOL ACTIVITIES, PLAYGROUND AND GARDEN. PART X, LINE 2: THE SCHOOL IS A TAX-EXEMPT ORGANIZATION DESCRIBED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE IRC) AND, AS SUCH, IS NOT SUBJECT TO FEDERAL OR STATE CORPORATION INCOME TAXES. THE SCHOOL HAD NO UNCERTAIN TAX POSITIONS AT JUNE 30, 2023 AND 2022. THE SCHOOL'S FEDERAL INFORMATION RETURNS PRIOR TO FISCAL YEAR 2019 ARE CLOSED, AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. IF THE SCHOOL HAD UNRELATED BUSINESS INCOME TAXES, IT WOULD RECOGNIZE INTEREST AND PENALTIES ASSOCIATED WITH ANY TAX MATTERS AS PART OF THE INCOME TAX PROVISION AND INCLUDE ACCRUED INTEREST AND PENALTIES WITH THE RELATED TAX LIABILITY IN THE STATEMENTS OF FINANCIAL POSITION. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID GRANTED -1,901,088. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -10,410. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS AND OTHER ASSISTANCE 1,901,088. COST OF GOODS SOLD -10,410. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 PUBLISHED IN LOCAL NEWSPAPER AND DIRECT MAILING CATALOG. 1 FINANCIAL AID 114 1901088 CASH VALUE OF TUITION FINANCIAL AID ALLOWED TOWARD THE STUDENT'S TUITION PART I, LINE 2: FAMILIES APPLY FOR FINANCIAL AID BY COMPLETING A PARENTS FINANCIAL STATEMENT (PFS) WHICH IS SUBMITTED TO THE SCHOOL SCHOLARSHIP SERVICE (SSS) ADMINISTERED BY THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS. THE FORM REQUIRES DISCLOSURE OF FAMILY FINANCIAL INFORMATION LISTING INCOME, ASSETS AND DEBT. THE SCHOOL HAS A FINANCIAL AID COMMITTEE THAT INCLUDES THE HEAD OF SCHOOL, DIRECTOR OF FINANCE, DIRECTOR OF ENROLLMENT, AND OFFICE MANAGER. THESE ADMINISTRATORS REVIEW THE PFS AND MAKE AN AWARD BASED UPON THE FINANCIAL INFORMATION AVAILABLE AND IN THE CASE OF NEWLY ADMITTED STUDENTS, THE RECOMMENDATION OF THE DIRECTOR OF ENROLLMENT. X X X X X 0 0 0 0 0 0 0 0 0 BENJAMIN KENNEDY HEAD OF SCHOOL 222843 0 0 0 6000 0 9158 0 72218 0 310219 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A SUBJECT TO THE DIRECTION OR APPROVAL OF THE BOARD OF TRUSTEES, AND EXCEPT AS LIMITED BY LAW, THE EXECUTIVE COMMITTEE SHALL HAVE THE POWERS OF THE BOARD OF TRUSTEES IN THE INTERVALS BETWEEN BOARD OF TRUSTEES' MEETINGS. IN GENERAL, THE COMMITTEE MAY ACT ON BEHALF OF THE BOARD OF TRUSTEES UPON ALL MATTERS EXCEPT THOSE WHICH, IN THE OPINION OF THE COMMITTEE, SHOULD AWAIT THE NEXT MEETING OF THE BOARD OF TRUSTEES. EXCEPT AS EXPRESSLY PROVIDED HEREIN, ALL ACTION SO TAKEN BY THE COMMITTEE SHALL BE DEEMED THE ACTION OF THE BOARD OF TRUSTEES. AT EACH MEETING OF THE BOARD OF TRUSTEES, THE COMMITTEE SHALL REPORT ACTION TAKEN BY IT SINCE THE PREVIOUS BOARD OF TRUSTEES MEETING. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED FOR ACCURACY BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES WHO DISCUSS IT WITH THE FULL BOARD. COPIES OF THE FORM 990 ARE PROVIDED T THE FULL BOARD BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C ALL MEMBERS OF THE BOARD OF TRUSTEES, ADMINISTRATION AND FACULTY OF FRIENDS ACADEMY MUST SIGN A COPY OF THE CONFLICT OF INTEREST POLICY EVERY YEAR TO CONFIRM THAT NO CONFLICTS EXIST. THESE DOCUMENTS ARE COLLECTED BY THE CHIEF FINANCIAL OFFICER. ANY POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED AND RESOLVED BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15A THE HEAD'S COMPENSATION/CONTRACT COMMITTEE OF THE BOARD OF TRUSTEES ANNUALLY REVIEWS THE COMPENSATION OF THE HEAD OF SCHOOL/ THIS IS DONE BY UTILIZING COMPARATIVE DATA FROM SIMILAR ORGANIZATIONS, CONSIDERING EDUCATION AND EXPERIENCE OF THE HEAD OF SCHOOL AND THE OUTCOME OF THE ORGANIZATION'S GOALS DURING THE YEAR. THE COMMITTEE'S DETERMINATIONS AND DECISIONS ARE DOCUMENTED ANNUALLY AND A WRITTEN FOUR YEAR TERM CONTRACT IS ENTERED INTO WITH THE HEAD OF SCHOOL. FORM 990, PART VI, SECTION C, LINE 18 A COPY OF THE FORM 990 WILL BE AVAILABLE IN THE BUSINESS OFFICE FOR ANY BOARD MEMBERS OR INTERESTED PARTIES WHO WOULD LIKE TO REVIEW THE DOCUMENT. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON WRITTEN REQUEST TO THE SCHOOL. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT OR SELECTION PROCESSES DURING THE TAX YEAR.