FESSENDEN SCHOOL: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- FESSENDEN SCHOOL (EIN 04-2103574)
- Tax period
- 2023-07-01 to 2024-06-30
- Filed
- 2025-05-13
- IRS object ID
- 202501339349307230
- Schema version
- 2023v6.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule F
- Schedule I
- Schedule J
- Schedule K
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-05-13T14:57:46-05:00 | ReturnTs |
| Tax Period End | 2024-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 420714325 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RSM US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 80 CITY SQUARE | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02129 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042103574 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE FESSENDEN SCHOOL | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FESS | BusinessNameControlTxt |
| Phone | 6179645350 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 250 WALTHAM STREET | AddressLine1Txt |
| City | WEST NEWTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02465 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JOHN LESAFFRE | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 6179645350 | PhoneNum |
| Signature | 2025-05-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | LYNNE JOHNSON | PreparerPersonNm |
| PTIN | P00757336 | PTIN |
| Phone | 6179129000 | PhoneNum |
| Preparation | 2025-05-10 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | STEVE ARMSTRONG | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 250 WALTHAM STREET | AddressLine1Txt |
| City | WEST NEWTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02465 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $58,604,648 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.FESSENDEN.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1930 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | THE FESSENDEN SCHOOL CULTIVATES EACH BOY'S TALENTS AND DEVELOPS IN BALANCE HIS CHARACTER, MIND, AND BODY IN AN INCLUSIVE AND JOYFUL COMMUNITY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 26 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 26 | VotingMembersIndependentCnt |
| Total Employee | 411 | TotalEmployeeCnt |
| Total Volunteers | 55 | TotalVolunteersCnt |
| Total Gross UBI | $100,197 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $110,032 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $7,512,834 | PYContributionsGrantsAmt |
| CY Contributions Grants | $4,097,294 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $32,693,306 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $34,601,106 | CYProgramServiceRevenueAmt |
| PY Investment Income | -$313,508 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,186,802 | CYInvestmentIncomeAmt |
| PY Other Revenue | $837,848 | PYOtherRevenueAmt |
| CY Other Revenue | $953,969 | CYOtherRevenueAmt |
| PY Total Revenue | $40,730,480 | PYTotalRevenueAmt |
| CY Total Revenue | $41,839,171 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $3,406,081 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $3,922,290 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $22,873,562 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $24,204,097 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $2,083,451 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $12,385,135 | PYOtherExpensesAmt |
| CY Other Expenses | $12,609,623 | CYOtherExpensesAmt |
| PY Total Expenses | $38,664,778 | PYTotalExpensesAmt |
| CY Total Expenses | $40,736,010 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,065,702 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,103,161 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $144,945,540 | TotalAssetsBOYAmt |
| Total Assets EOY | $153,349,431 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $52,267,092 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $53,289,647 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $92,678,448 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $100,059,784 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THE FESSENDEN SCHOOL CULTIVATES EACH BOY'S TALENTS AND DEVELOPS IN BALANCE HIS CHARACTER, MIND, AND BODY IN AN INCLUSIVE AND JOYFUL COMMUNITY. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $28,647,952 | ExpenseAmt |
| Grant | $3,922,290 | GrantAmt |
| Revenue | $31,335,183 | RevenueAmt |
| Desc | THE FESSENDEN SCHOOL IS AN INDEPENDENT BOYS ELEMENTARY SCHOOL FOR BOTH RESIDENT AND DAY STUDENTS WITH GRADES PRE-KINDERGARTEN THROUGH NINTH. THE PROGRAM HAS APPROX. 540 STUDENTS OF BOTH DOMESTIC AND INTERNATIONAL ORIGIN. ACADEMIC, ART AND ATHLETIC PROGRAMS ALL PLAY AN INTEGRAL PART OF EACH STUDENT'S EDUCATIONAL AND PERSONAL GROWTH. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $2,172,163 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $2,088,030 | RevenueAmt |
| Desc | THE FESSENDEN SCHOOL SUMMER DAY CAMP PROGRAM PROVIDES APPROXIMATELY 325 CHILDREN WITH A DIVERSIFIED, SAFE AND REWARDING EDUCATIONAL EXPERIENCE. THE PROGRAM OPERATES FROM JULY THROUGH AUGUST AND IS LOCATED ON THE SCHOOL'S 42 ACRE CAMPUS, AND UTILIZES THE SPACIOUS GROUNDS, 2 SWIMMING POOLS, CLASSROOM BUILDINGS, TENNIS COURTS AND ATHLETIC CENTER. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $1,629,643 | ExpenseAmt |
| Revenue | $1,065,293 | RevenueAmt |
| Desc | THE FESSENDEN DAYCARE SERVICES THE LOCAL COMMUNITY AT LARGE, PROVIDING INFANT, TODDLER, AND PRESCHOOL PROGRAMS TO APPROXIMATELY 50 GIRLS AND BOYS. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp (2 entries)
| ExpenseExpenseAmt | RevenueRevenueAmt | DescDesc |
|---|---|---|
| $86,511 | $112,600 | AUXILIARY AND VACATION PROGRAMMING |
| $7,630 | DEPOSITS FORFEITED - THE FESSENDEN SCHOOL RETAINS DEPOSITS PAID BY ENROLLING STUDENTS WHO COME TO THE DECISION TO NOT ATTEND THE SCHOOL. THE DEPOSITS ARE FORFEITED IF THE STUDENTS DO NOT NOTIFY THE SCHOOL BY A CERTAIN DATE AS SPECIFIED IN THE CONTRACT SIGNED BY THE STUDENT. |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $86,511 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Revenue | $120,230 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $32,536,269 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | Yes (1) | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 72 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 411 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 26 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 26 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MICHAEL DYLINGOWSKI CONTROLLER | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6179645350 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 250 WALTHAM STREET | AddressLine1Txt |
| City | WEST NEWTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02465 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (34 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| ADAM ABRAMSON | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DEVIN CONDRON | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DAVE DAGLIO | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| TJ DOUGLAS | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| HYTHEM T EL-NAZER | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| PETER FOLAN | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DONALD FORNES | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| LINDA HENRY | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MELANIE HOFFMEISTER | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| HERBERT HOLTZ | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| ASHANA HURD | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| UNSOO KIM | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| KATE LENESS | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| HIREN MANKODI | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| ALEX MARX | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| CRAIG MAURER | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MONICA PALMER | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| ALEXANDER SACERDOTE | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MICHELLE SANCHEZ | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| LIZ SHORTSLEEVE | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| SOPHIA SUN | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| TAD S YANAGI | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| SOL KUMIN | |||||||
| TRUSTEE/PRESIDENT | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| KEITH B GELB | |||||||
| TRUSTEE/VICE PRESIDENT | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| VINCENT MONTEMAGGIORE | |||||||
| TRUSTEE/TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| TARA CIONGOLI | |||||||
| TRUSTEE/CLERK | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| STEVE ARMSTRONG | |||||||
| HEAD OF SCHOOL | 45.00 | $399,582 | $0 | $171,654 | Yes (X) | ||
| JOHN LESAFFRE | |||||||
| CFO | 45.00 | $242,256 | $0 | $37,286 | Yes (X) | ||
| MICHAEL GROSSMAN | |||||||
| COO | 45.00 | $203,011 | $0 | $62,213 | Yes (X) | ||
| SEAN GUTHRIE | |||||||
| ASST HEAD OF SCHOOL | 45.00 | $162,297 | $0 | $191,838 | Yes (X) | ||
| ABIGAIL BUCCELLA | |||||||
| DIRECTOR OF ADVANCEMENT | 45.00 | $211,476 | $0 | $142,326 | Yes (X) | ||
| CALEB THOMSON | |||||||
| DIRECTOR OF ADMISSIONS | 45.00 | $170,102 | $0 | $70,622 | Yes (X) | ||
| BRANDON ODOM | |||||||
| HEAD OF MIDDLE SCHOOL | 45.00 | $131,507 | $0 | $148,938 | Yes (X) | ||
| CURT LEWELLYN | |||||||
| INNOVATION CENTER DIRECTOR | 40.00 | $138,767 | $0 | $40,798 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,658,998 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $865,675 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 34 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| ERLAND CONSTRUCTION INC | |||||
| 71 3RD AVE | BURLINGTON | MA | 01803 | CONSTRUCTION | $1,221,793 |
| UTILE INC | |||||
| 115 KINGSTON STREET | BOSTON | MA | 02111 | ARCHITECTURE AND PLANNING | $594,411 |
| COMPASS FACILITY SERVICES | |||||
| 65 JACKMAN STREET | GEORGETOWN | MA | 01833 | CLEANING SERVICES | $404,856 |
| LOCAL MOTION INC | |||||
| 66B ROCSAM PARK ROAD | BRAINTREE | MA | 02184 | TRANSPORTATION SERVICES | $328,633 |
| OUNCEIT LLC | |||||
| PO BOX 3137 | WORCESTER | MA | 01613 | IT CONSULTANTS | $275,807 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 16 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $4,097,294 | AllOtherContributionsAmt |
| Noncash Contributions | $517,913 | NoncashContributionsAmt |
| Total Contributions | $4,097,294 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| TUITION AND FEES | 611600 | $31,335,183 | $31,335,183 |
| SUMMER DAY CAMP | 611710 | $2,088,030 | $2,088,030 |
| AUXILIARY - DAY CARE | 611710 | $1,065,293 | $1,065,293 |
| VACATION PROGRAM | 611710 | $112,600 | $112,600 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $34,601,106 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,199,649 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | -$19,053 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,218,702 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $1,316,599 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $505,699 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $810,900 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $810,900 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $108,515 | UnrelatedBusinessRevenueAmt |
| Exclusion | $702,385 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $16,089,612 | SecuritiesAmt |
| Other | $2,500 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $16,104,959 | SecuritiesAmt |
| Other | $0 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$15,347 | SecuritiesAmt |
| Other | $2,500 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$12,847 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | -$892 | UnrelatedBusinessRevenueAmt |
| Exclusion | -$11,955 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $182,150 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $154,819 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $27,331 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $11,627 | UnrelatedBusinessRevenueAmt |
| Exclusion | $15,704 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|---|
| FINANCIAL CHARGES INCOME | 611710 | $56,588 | $56,588 | |
| CREDIT CARD REWARDS PROGRAM | 900099 | $15,000 | $15,000 | |
| DEPOSITS FORFEITED | 900099 | $7,630 | $7,630 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $36,520 | TotalRevenueColumnAmt |
| Exclusion | $36,520 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $115,738 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $41,839,171 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $34,608,736 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $100,197 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,032,944 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,922,290 | TotalAmt |
| Program Services | $3,922,290 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,202,220 | TotalAmt |
| Management And General | $1,160,727 | ManagementAndGeneralAmt |
| Fundraising | $41,493 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,720,175 | TotalAmt |
| Program Services | $14,018,566 | ProgramServicesAmt |
| Management And General | $1,659,842 | ManagementAndGeneralAmt |
| Fundraising | $1,041,767 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,239,539 | TotalAmt |
| Program Services | $1,024,079 | ProgramServicesAmt |
| Management And General | $143,386 | ManagementAndGeneralAmt |
| Fundraising | $72,074 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,807,045 | TotalAmt |
| Program Services | $2,967,518 | ProgramServicesAmt |
| Management And General | $608,406 | ManagementAndGeneralAmt |
| Fundraising | $231,121 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,235,118 | TotalAmt |
| Program Services | $952,792 | ProgramServicesAmt |
| Management And General | $213,524 | ManagementAndGeneralAmt |
| Fundraising | $68,802 | FundraisingAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $29,800 | TotalAmt |
| Fundraising | $29,800 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $37,994 | TotalAmt |
| Management And General | $37,994 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $80,747 | TotalAmt |
| Management And General | $80,747 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $641,161 | TotalAmt |
| Management And General | $641,161 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,011,838 | TotalAmt |
| Program Services | $1,640,915 | ProgramServicesAmt |
| Management And General | $303,105 | ManagementAndGeneralAmt |
| Fundraising | $67,818 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $149,498 | TotalAmt |
| Program Services | $4,333 | ProgramServicesAmt |
| Management And General | $3,749 | ManagementAndGeneralAmt |
| Fundraising | $141,416 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $371,424 | TotalAmt |
| Program Services | $117,818 | ProgramServicesAmt |
| Management And General | $140,238 | ManagementAndGeneralAmt |
| Fundraising | $113,368 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $271,713 | TotalAmt |
| Program Services | $145,772 | ProgramServicesAmt |
| Management And General | $105,658 | ManagementAndGeneralAmt |
| Fundraising | $20,283 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $827,785 | TotalAmt |
| Program Services | $803,298 | ProgramServicesAmt |
| Management And General | $15,039 | ManagementAndGeneralAmt |
| Fundraising | $9,448 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $143,864 | TotalAmt |
| Program Services | $22,507 | ProgramServicesAmt |
| Management And General | $117,993 | ManagementAndGeneralAmt |
| Fundraising | $3,364 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $84,013 | TotalAmt |
| Program Services | $81,743 | ProgramServicesAmt |
| Management And General | $154 | ManagementAndGeneralAmt |
| Fundraising | $2,116 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $702,326 | TotalAmt |
| Program Services | $684,487 | ProgramServicesAmt |
| Management And General | $10,956 | ManagementAndGeneralAmt |
| Fundraising | $6,883 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,196,825 | TotalAmt |
| Program Services | $3,115,626 | ProgramServicesAmt |
| Management And General | $49,870 | ManagementAndGeneralAmt |
| Fundraising | $31,329 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $351,151 | TotalAmt |
| Management And General | $351,151 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| SUPPLIES & EQUIPMENT | $1,561,296 | $1,357,606 | $165,152 | $38,538 |
| FOOD | $952,797 | $872,762 | $66,219 | $13,816 |
| STUDENT ACTIVITIES | $545,953 | $545,953 | ||
| EVENTS & FUNCTIONS | $418,136 | $256,104 | $12,017 | $150,015 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $231,302 | TotalAmt |
| Program Services | $2,100 | ProgramServicesAmt |
| Management And General | $229,202 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $40,736,010 | TotalAmt |
| Program Services | $32,536,269 | ProgramServicesAmt |
| Management And General | $6,116,290 | ManagementAndGeneralAmt |
| Fundraising | $2,083,451 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,054,157 | BOYAmt |
| EOY | $13,153,566 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,694,931 | BOYAmt |
| EOY | $20,251,209 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,133 | BOYAmt |
| EOY | $88,175 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $515,284 | BOYAmt |
| EOY | $583,353 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $87,601,555 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $43,277,761 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $41,505,576 | BOYAmt |
| EOY | $44,323,794 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,780,619 | BOYAmt |
| EOY | $11,904,403 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $50,800,755 | BOYAmt |
| EOY | $59,565,502 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,531,085 | BOYAmt |
| EOY | $3,479,429 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $144,945,540 | BOYAmt |
| EOY | $153,349,431 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,167,991 | BOYAmt |
| EOY | $4,023,709 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,281,476 | BOYAmt |
| EOY | $27,146,155 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,762,222 | BOYAmt |
| EOY | $21,785,773 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $55,403 | BOYAmt |
| EOY | $53,927 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $280,083 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $52,267,092 | BOYAmt |
| EOY | $53,289,647 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $71,184,811 | BOYAmt |
| EOY | $76,536,927 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,493,637 | BOYAmt |
| EOY | $23,522,857 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $92,678,448 | BOYAmt |
| EOY | $100,059,784 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $144,945,540 | BOYAmt |
| EOY | $153,349,431 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $1,103,161 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $6,278,175 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $65,751,618 | BeginningYearBalanceAmt |
| Contributions | $1,235,253 | ContributionsAmt |
| Investment Earnings Or Losses | $7,255,549 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $229,842 | GrantsOrScholarshipsAmt |
| Other Expenditures | $2,355,982 | OtherExpendituresAmt |
| End Year Balance | $71,656,596 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $61,093,828 | BeginningYearBalanceAmt |
| Contributions | $4,397,196 | ContributionsAmt |
| Investment Earnings Or Losses | $2,659,023 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $223,020 | GrantsOrScholarshipsAmt |
| Other Expenditures | $2,175,409 | OtherExpendituresAmt |
| End Year Balance | $65,751,618 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $67,508,248 | BeginningYearBalanceAmt |
| Contributions | $841,057 | ContributionsAmt |
| Investment Earnings Or Losses | -$5,140,617 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $192,076 | GrantsOrScholarshipsAmt |
| Other Expenditures | $1,922,784 | OtherExpendituresAmt |
| End Year Balance | $61,093,828 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $49,563,446 | BeginningYearBalanceAmt |
| Contributions | $2,198,616 | ContributionsAmt |
| Investment Earnings Or Losses | $17,698,298 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $170,672 | GrantsOrScholarshipsAmt |
| Other Expenditures | $1,781,440 | OtherExpendituresAmt |
| End Year Balance | $67,508,248 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $48,250,673 | BeginningYearBalanceAmt |
| Contributions | $2,486,934 | ContributionsAmt |
| Investment Earnings Or Losses | $760,739 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $779,771 | GrantsOrScholarshipsAmt |
| Other Expenditures | $1,149,052 | OtherExpendituresAmt |
| Administrative Expenses | $6,077 | AdministrativeExpensesAmt |
| End Year Balance | $49,563,446 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.68000 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.19000 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.13000 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $159,808 | OtherCostOrOtherBasisAmt |
| Book Value | $159,808 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $79,086,277 | OtherCostOrOtherBasisAmt |
| Depreciation | $37,709,630 | DepreciationAmt |
| Book Value | $41,376,647 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,532,706 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,956,507 | DepreciationAmt |
| Book Value | $2,576,199 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $822,764 | OtherCostOrOtherBasisAmt |
| Depreciation | $611,624 | DepreciationAmt |
| Book Value | $211,140 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $44,323,794 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (5 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| LIMITED PARTERNSHIPS | $37,140,710 | F |
| INTERNATIONAL EQUITY INSTITUTIONAL FUNDS | $12,865,759 | F |
| DEVELOPED US EQUITY | $7,533,393 | F |
| ANNUITY CONTRACTS | $769,025 | F |
| EMERGING MARKETS EQUITY | $1,256,615 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $59,565,502 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | FINANCE LEASE LIABILITY | Desc |
| Amt | $280,083 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $280,083 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $44,214,413 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $6,278,175 | NetUnrealizedGainsInvstAmt |
| Other Revenue | -$4,563,451 | OtherRevenueAmt |
| Revenue Not Reported | $1,714,724 | RevenueNotReportedAmt |
| Revenue Subtotal | $42,499,689 | RevenueSubtotalAmt |
| Other Revenues Not Included | -$660,518 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | -$660,518 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $41,839,171 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $36,833,077 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $660,518 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $660,518 | ExpensesNotReportedAmt |
| Expenses Subtotal | $36,172,559 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $641,161 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $3,922,290 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $4,563,451 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $40,736,010 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART IV, LINE 2B: | ALL BOARDING STUDENTS HAVE A SMALL CASH BALANCE OF $300 TO $1,000 FOR SPENDING MONEY ON THE WEEKENDS AND FOR TRAVEL MONEY WHEN THEY RETURN HOME FOR BREAKS. THE FUNDS ARE KEPT IN A SEPARATE BANK ACCOUNT, AND STUDENTS DRAW FROM IT ON A WEEKLY BASIS BY SUBMITTING CASH REQUEST. |
| PART V, LINE 4: | THE ENDOWMENT FUND ENSURES THAT CURRENT AND FUTURE GENERATIONS OF FESSENDEN STUDENTS HAVE ACCESS TO THE BEST FACULTY, COMMUNITY, CURRICULUM, AND FACILITIES. SPECIFICALLY, THE ENDOWMENT SUPPORTS: SALARY ENHANCEMENT, FINANCIAL AID, PROFESSIONAL DEVELOPMENT, PLANT MAINTENANCE, AND INSTRUCTIONAL AND PROGRAM MATERIALS. |
| PART X, LINE 2: | THE SCHOOL IS QUALIFIED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES EXCEPT FOR NET REVENUE FROM UNRELATED BUSINESS ACTIVITIES. THE SCHOOL IS SUBJECT TO FEDERAL AND STATE INCOME TAXES ON UNRELATED BUSINESS INCOME. THE SCHOOL 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 THE TAXING AUTHORITIES. MANAGEMENT EVALUATED THE SCHOOL'S TAX POSITIONS AND CONCLUDED THAT THE SCHOOL HAD NO MATERIAL UNCERTAINTIES IN INCOME TAXES AS OF JUNE 30, 2024 AND 2023. THE SCHOOL WILL ACCOUNT FOR INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, AS PART OF TAX EXPENSE. WITH FEW EXCEPTIONS, THE SCHOOL IS ONLY SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL AUTHORITIES FOR THREE YEARS FROM THE FILING DATE. INTEREST AND PENALTIES, IF ANY, ARE INCLUDED IN INCOME TAX EXPENSE. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | FINANCIAL AID AND TUITION REMISSION NETTED WITH REVENUE -3,922,290. INVESTMENT EXPENSES NETTED WITH INVESTMENT REVENUE ON AUDITED FINANCIAL STMT -641,161. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | RENTAL EXPENSES REPORTED IN FORM 990, PART VIII, LINE 6B -505,699. COST OF GOODS SOLD EXPENSE REPORTED IN FORM 990, PART VIII, LINE 10B -154,819. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | RENTAL EXPENSES REPORTED IN FORM 990, PART VIII, LINE 6B 505,699. COST OF GOODS SOLD EXPENSE REPORTED IN FORM 990, PART VIII, LINE 10B 154,819. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | FINANCIAL AID REPORTED IN FORM 990, PART IX, LINE 2 3,922,290. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | 0 | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE E, PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | RACIALLY NONDISCRIMINATORY POLICY IS INCLUDED IN ALL COMMUNICATIONS TO THE COMMUNITY. | ExplanationTxt |
Schedule F IRS990ScheduleF
Account Activities Outside US AccountActivitiesOutsideUSGrp (3 entries)
| RegionRegionTxt | Type Of Activities ConductedTypeOfActivitiesConductedTxt | Region Total ExpendituresRegionTotalExpendituresAmt |
|---|---|---|
| CENTRAL AMERICA AND THE CARIBBEAN | INVESTMENTS | $27,845,726 |
| EAST ASIA AND THE PACIFIC | INVESTMENTS | $222,675 |
| EUROPE (INCLUDING ICELAND & GREENLAND) | INVESTMENTS | $1,068,896 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 0 | SubtotalOfficesCnt |
| Subtotal Employees | 0 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 0 | TotalOfficeCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Subtotal Spent | $29,137,297 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $29,137,297 | TotalSpentAmt |
| Transfer To Foreign Corp | Yes (1) | TransferToForeignCorpInd |
| Interest In Foreign Trust | 0 | InterestInForeignTrustInd |
| Foreign Corp Ownership | Yes (1) | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | Yes (1) | PassiveForeignInvestmestCoInd |
| Foreign Partnership | Yes (1) | ForeignPartnershipInd |
| Boycott Countries | 0 | BoycottCountriesInd |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | FINANCIAL AID FOR TUITION AND FEES | GrantTypeTxt |
| Recipient | 88 | RecipientCnt |
| Cash Grant | $3,922,290 | CashGrantAmt |
| Valuation Method Used | FMV | ValuationMethodUsedDesc |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE FESSENDEN SCHOOL UTILIZES THE SERVICES OF THE SCHOOL AND STUDENT SERVICE (SSS) BY THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS). BASED UPON A WRITTEN APPLICATION, SSS ASSESSES A FAMILY'S RESOURCES TO DETERMINE HOW MUCH THAT FAMILY CAN AFFORD FOR EDUCATION. USING THIS REPORT, OTHER AVAILABLE INFORMATION AND THE SCHOOL'S OWN POLICIES, THE FESSENDEN FINANCIAL AID COMMITTEE DETERMINES AN APPROPRIATE GRANT BASED UPON THE STUDENT'S NEED, THE SCHOOL'S PRIORITIES AND FINANCIAL AID RESOURCES. RECORDS ARE MAINTAINED AND REVIEWED AS EACH STUDENT MUST RE-APPLY EACH YEAR TO QUALIFY AND RECEIVE ASSISTANCE. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | Yes (X) | HousingAllowanceOrResidenceInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (8 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| STEVE ARMSTRONG | ||||||||||||||
| HEAD OF SCHOOL | $399,582 | $0 | $0 | $0 | $0 | $0 | $83,000 | $0 | $88,654 | $0 | $571,236 | $0 | $0 | $0 |
| SEAN GUTHRIE | ||||||||||||||
| ASST HEAD OF SCHOOL | $162,297 | $0 | $0 | $0 | $0 | $0 | $17,194 | $0 | $174,644 | $0 | $354,135 | $0 | $0 | $0 |
| ABIGAIL BUCCELLA | ||||||||||||||
| DIRECTOR OF ADVANCEMENT | $211,476 | $0 | $0 | $0 | $0 | $0 | $22,326 | $0 | $120,000 | $0 | $353,802 | $0 | $0 | $0 |
| BRANDON ODOM | ||||||||||||||
| HEAD OF MIDDLE SCHOOL | $131,507 | $0 | $0 | $0 | $0 | $0 | $14,400 | $0 | $134,538 | $0 | $280,445 | $0 | $0 | $0 |
| JOHN LESAFFRE | ||||||||||||||
| CFO | $242,256 | $0 | $0 | $0 | $0 | $0 | $24,594 | $0 | $12,692 | $0 | $279,542 | $0 | $0 | $0 |
| MICHAEL GROSSMAN | ||||||||||||||
| COO | $203,011 | $0 | $0 | $0 | $0 | $0 | $21,846 | $0 | $40,367 | $0 | $265,224 | $0 | $0 | $0 |
| CALEB THOMSON | ||||||||||||||
| DIRECTOR OF ADMISSIONS | $170,102 | $0 | $0 | $0 | $0 | $0 | $16,622 | $0 | $54,000 | $0 | $240,724 | $0 | $0 | $0 |
| CURT LEWELLYN | ||||||||||||||
| INNOVATION CENTER DIRECTOR | $138,767 | $0 | $0 | $0 | $0 | $0 | $14,526 | $0 | $26,272 | $0 | $179,565 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | QUALIFIED CAMPUS LODGING IS LOCATED ON THE CAMPUS OF THE EDUCATIONAL INSTITUTION AND IS FURNISHED TO AN EMPLOYEE, THE EMPLOYEE'S SPOUSE, OR ANY DEPENDENTS, BY OR ON BEHALF OF, THE INSTITUTION FOR USE AS A RESIDENCE AND IS EXCLUDED FROM GROSS INCOME IF IT QUALIFIES UNDER CODE SECTION 119. HOUSING FOR STEVEN ARMSTRONG, SEAN GUTHRIE, BRANDON ODOM AND CALEB THOMSON QUALIFIES UNDER CODE SECTION 119. THIS NONTAXABLE BENEFIT IS REPORTED IN PART II, COLUMN (D) FOR THESE INDIVIDUALS. |
| PART I, LINE 4B | THE FESSENDEN SCHOOL HAS ESTABLISHED A DEFERRED COMPENSATION PLAN FOR THE HEAD OF SCHOOL, STEVE ARMSTRONG. THE HEAD OF SCHOOL WILL EARN AN ADDITIONAL $50,000 FOR EACH OF THE FOLLOWING FISCAL YEARS: 2022, 2023, 2024, 2025, AND 2026. TWO PAYMENTS OF $125,000 EACH WILL BE MADE TO THE HEAD OF SCHOOL: ONE ON JUNE 28, 2024, AND THE OTHER ON JUNE 30, 2026. THE HEAD OF SCHOOL MUST BE AN ACTIVE EMPLOYEE OF THE SCHOOL ON THE PAYMENT DATE TO RECEIVE THE INCENTIVE. $50,000 HAS BEEN ACCRUED AND REPORTED IN PART II, COLUMN (C) FOR THE HEAD OF SCHOOL. |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (2 entries)
| Bond ReferenceBondReferenceCd | Bond Issuer EINBondIssuerEIN | CUSIPCUSIPNum | Bond IssuedBondIssuedDt | Issue PriceIssuePriceAmt | PurposePurposeDesc | DefeasedDefeasedInd | On Behalf Of IssuerOnBehalfOfIssuerInd | Pool FinancingPoolFinancingInd |
|---|---|---|---|---|---|---|---|---|
| MASSACHUSETTS DEVELOPMENT FINANCE AGENCY | ||||||||
| A | 043431814 | 999999999 | 2017-09-08 | $16,000,000 | SEE PAGE 4 FOR SERIES 2017A BOND DESCRIPTION OF PURPOSE | 0 | 0 | 0 |
| MASSACHUSETTS DEVELOPMENT FINANCE AGENCY | ||||||||
| B | 043431814 | 999999999 | 2017-09-08 | $9,000,000 | SEE PAGE 4 FOR SERIES 2017B BOND DESCRIPTION OF PURPOSE | 0 | 0 | 0 |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (2 entries)
| Bond ReferenceBondReferenceCd | RetiredRetiredAmt | Total ProceedsTotalProceedsAmt | Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt | Capital ExpendituresCapitalExpendituresAmt | Other Spent ProceedsOtherSpentProceedsAmt | Substantial CompletionSubstantialCompletionYr | Refunding Tax Exempt BondsRefundingTaxExemptBondsInd | Refunding Taxable BondsRefundingTaxableBondsInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd |
|---|---|---|---|---|---|---|---|---|---|---|
| A | $3,200,000 | $16,000,000 | $75,416 | $260,745 | $15,663,839 | 2018 | Yes (1) | 0 | Yes (1) | Yes (1) |
| B | $426,445 | $9,000,000 | $50,277 | $8,949,723 | 2019 | 0 | 0 | Yes (1) | Yes (1) |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (2 entries)
| Bond ReferenceBondReferenceCd | Owning Bond Financed PropertyOwningBondFinancedPropertyInd | Any Lease ArrangementsAnyLeaseArrangementsInd | Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd | Any Research AgreementsAnyResearchAgreementsInd | Private Bus Use By OthersPrivateBusUseByOthersPct | Private Bus Concerning UBIPrivateBusConcerningUBIPct | Total Private Business UseTotalPrivateBusinessUsePct | Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd | Change In Use Bond Financed PropChangeInUseBondFinancedPropInd | Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd |
|---|---|---|---|---|---|---|---|---|---|---|
| A | 0 | Yes (1) | 0 | 0 | 0.01000 | 0.01250 | 0.02250 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 0 | 0 | Yes (1) |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (2 entries)
| Bond ReferenceBondReferenceCd | Form8038 T FiledForm8038TFiledInd | Rebate Not Due YetRebateNotDueYetInd | Exception To RebateExceptionToRebateInd | No Rebate DueNoRebateDueInd | Variable Rate IssueVariableRateIssueInd | Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd |
|---|---|---|---|---|---|---|---|---|---|
| A | 0 | 0 | Yes (1) | 0 | 0 | 0 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | Yes (1) | 0 | 0 | 0 | 0 | Yes (1) |
Procedures Corrective Action ProceduresCorrectiveActionGrp (2 entries)
| Bond ReferenceBondReferenceCd | Procedures Corrective ActionProceduresCorrectiveActionInd |
|---|---|
| A | Yes (1) |
| B | Yes (1) |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| DATE REBATE COMPUTATION PERFORMED | ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY DATE THE REBATE COMPUTATION WAS PERFORMED: 06/28/2019 |
| SCHEDULE K, PART I: | ON SEPTEMBER 8, 2017, THE SCHOOL REFINANCED THEIR EXISTING BONDS AND WAS APPROVED FOR FINANCING UP TO $25,000,000 THROUGH THE MASSACHUSETTS DEVELOPMENT FINANCE AGENCY. THE BONDS INCLUDED $16,000,000 SERIES 2017A AND UP TO $9,000,000 SERIES 2017B. THE SERIES 2017A BONDS WERE USED FIRST TO REFINANCE THE OUTSTANDING AMOUNT OF THE SERIES 2014A AND SERIES 2014B BONDS AND, SECOND, TO FUND COSTS OF ISSUANCE WITH RESPECT TO THE SERIES 2017A BOND. THE SERIES 2017B BONDS WERE AVAILABLE FOR THE CONSTRUCTION OF AN ARTS CENTER AND VARIOUS CAPITAL PROJECTS AND WERE REQUIRED TO BE FULLY DRAWN NO LATER THAN 24 MONTHS FROM CLOSING. THESE BONDS ARE SECURED BY ALL BUSINESS ASSETS. INTEREST ON THE 2017A BONDS IS PAYABLE MONTHLY AT A FIXED RATE OF 3.1% BASED ON A 30-YEAR AMORTIZATION SCHEDULE. THE 2017A BONDS ARE SUBJECT TO CERTAIN FINANCIAL COVENANTS AND REQUIRE ANNUAL PRINCIPAL PAYMENTS THROUGH AUGUST 31, 2031. THE 2017B BONDS ARE SUBJECT TO CERTAIN FINANCIAL COVENANTS AND REQUIRE INTEREST-ONLY PAYMENTS PAID MONTHLY AT A FIXED RATE OF 3.1% FOR THE FIRST FIVE YEARS FROM CLOSING. IN YEAR SIX THROUGH MATURITY OF AUGUST 31, 2031, MONTHLY PAYMENTS OF PRINCIPAL AND INTEREST AT A FIXED RATE OF 3.1% ARE REQUIRED BASED ON A 25-YEAR AMORTIZATION SCHEDULE. THE OUTSTANDING BALANCE OF THE BONDS AT JUNE 30, 2024 AND 2023, AMOUNTED TO $21,373,555 AND $22,132,207, RESPECTIVELY. |
| SCHEDULE K, PART I, BOND ISSUES: SERIES 2017A BOND | DESCRIPTION OF PURPOSE: TO REFINANCE THE OUTSTANDING AMOUNT OF THE SERIES 2014A AND SERIES 2014B BONDS AND TO FUND COSTS OF ISSUANCE WITH RESPECT TO THE SERIES 2017A BOND. |
| SCHEDULE K, PART I, BOND ISSUES: SERIES 2017B BOND | DESCRIPTION OF PURPOSE: SERIES 2017B BONDS ARE FOR THE CONSTRUCTION OF AN ARTS CENTER AND VARIOUS CAPITAL PROJECTS. |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 12 | ContributionCnt |
| Noncash Contributions Rpt F990 | $517,913 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8283 Received | 0 | Form8283ReceivedCnt |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (1) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | 0 | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, COLUMN (B): | FormAndLineReferenceDesc |
| Explanation | THE NUMBER OF CONTRIBUTIONS IS BASED ON THE NUMBER OF GIFTS RECEIVED | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | THE BOARD OF TRUSTEES RECEIVES AN ELECTRONIC COPY OF THE FORM 990, 990-T AND ANY OTHER RELATED AND REQUIRED FILINGS, AS FILED, BEFORE THE FILING DEADLINE. BEFORE FILING, MEMBERS OF MANAGEMENT REVIEW THE RETURNS FOR ACCURACY AND COMPLETENESS. AT A LATER DATE AFTER THE FILING OF THE RETURNS, THE SCHOOL'S AUDIT COMMITTEE ALONG WITH MEMBERS OF SCHOOL'S MANAGEMENT REVIEW THE RETURNS ALONG WITH THE RESULTS OF THE AUDIT. THE RESULTS OF THE YEAR-END AUDIT, REVIEW OF THE FORM 990, AND ANY FINDINGS, CHANGES OR AREAS OF CONCERN ARE COMMUNICATED TO THE BOARD AT THE FIRST BOARD MEETING OF THE FISCAL YEAR SO APPROPRIATE CORRECTIVE ACTION, IF ANY, CAN BE TAKEN. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED ANNUALLY BY THE CLERK OR ASSISTANT CLERK OF THE SCHOOL TO THE BOARD OF TRUSTEES, OFFICERS AND SENIOR ADMINISTRATIVE STAFF AS THEY ARE THE INDIVIDUALS WHO MAKE DECISIONS ON THE SCHOOL'S BEHALF. EACH PERSON COVERED BY THE POLICY SHALL BE REQUIRED TO PROMPTLY COMPLETE THE DISCLOSURE FORM AND RETURN THE COMPLETED FORM TO THE CLERK OR ASSISTANT CLERK BY THE ASSIGNED DEADLINE. THE ASSISTANT CLERK SHALL REVIEW THE COMPLETED FORMS AND PROMPTLY PROVIDE TO THE AUDIT COMMITTEE AND THE PRESIDENT A COPY OF ANY FORM THAT DISCLOSES AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST OR ANY OTHER MATTER THAT WARRANTS REVIEW BY THAT COMMITTEE. THE AUDIT COMMITTEE SHALL DETERMINE WHETHER ANY DISLCOSED MATTER IS OF SUCH SIGNIFICANCE THAT IT MERITS REVIEW AND APPROVAL BY A DISINTERESTED MAJORITY OF THE EXECTIVE COMMITTEE; PROVIDED THAT, IN THE EVENT A DISCLOSED MATTER INVOLVES A MEMBER OF THE AUDIT COMMITTEE, THE PRESIDENT SHALL REFER THE MATTER DIRECTLY TO THE EXECUTIVE COMMITTEE. A MATTER REFERRED TO THE EXECUTIVE COMMITTEE MAY BE DECIDED BY THAT COMMITTEE OR FURTHER REFERRED TO THE FULL BOARD. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE ORGANIZATION ISSUES SALARY LETTERS CONTAINING THE DETAILS OF THE COMPENSATION PACKAGE FOR ALL NEW OFFICERS, TOP MANAGEMENT AND KEY EMPLOYEES. THE INITIAL PROCESS FOR HIRING OFFICERS, TOP MANAGEMENT AND KEY EMPLOYEES USUALLY INVOLVES AN INDEPENDENT SEARCH COMMITTEE AND CONSULTANTS WHO IDENTIFY CANDIDATES BASED UPON THE REQUIRED SKILLS, EXPERIENCE, ETC., SET FORTH BY THE ORGANIZATION. THE POOL OF CANDIDATES WILL THEN BE INTERVIEWED BY A COMMITTEE OF BOARD MEMBERS AND OTHER TOP MANAGEMENT. DURING THIS PROCESS, THE CONSULTANTS, BOARD AND TOP MANAGEMENT ALSO DETERMINE THE COMPENSATION BASED UPON THE LEVEL OF POSITION, EXPERIENCE OF CANDIDATE, THE MARKETPLACE, DEMOGRAPHICS AND COMPARING DATA WITH SIMILAR ORGANIZATIONS AND POSITIONS. THE YEARS FOLLOWING THE HIRE OF AN OFFICER, TOP MANAGEMENT OR KEY EMPLOYEE INVOLVE A REVIEW PROCESS THAT INCLUDES AN EVALUATION UTILIZING COMPARABILITY DATA. UNLESS THERE ARE SIGNIFICANT CHANGES TO THE ORIGINAL DUTIES ASSIGNED FOR THE POSITION OR OTHER FACTORS THAT MAY WARRANT A CHANGE IN COMPENSATION, INCREASES ARE IN THE RANGE VOTED BY THE BOARD FOR ALL EMPLOYEES OF THE ORGANIZATION. THE PROCESS OF DETERMINING COMPENSATION FOR THE HEAD OF SCHOOL (CEO) IS MORE IN DEPTH. EACH SPRING, AN ELECTRONIC SURVEY ABOUT THE HEAD OF SCHOOL'S PERFORMANCE IS SENT TO ALL MEMBERS OF THE BOARD OF TRUSTEES. THE PRESIDENT OF THE BOARD OF TRUSTEES AND THE CHAIR OF THE COMMITTEE ON TRUSTEES REVIEW THE SURVEY RESULTS, AND THE BOARD PRESIDENT WILL HOLD A MEETING WITH THE HEAD OF SCHOOL TO DISCUSS THE SURVEY RESULTS AND THE HEAD'S PERFORMANCE. THIS MEETING THEN LEADS TO THE ESTABLISHMENT OF THE HEAD'S GOALS FOR THE UPCOMING YEAR. EACH JANUARY, THE BOARD OF TRUSTEES VOTES ON A SALARY POOL INCREASE FOR EMPLOYEES FOR THE UPCOMING FISCAL YEAR. IN GENERAL, ANNUAL SALARY INCREASES FOR THE HEAD OF SCHOOL ARE IN ALIGNMENT WITH INCREASES FOR EMPLOYEES OF THE ORGANIZATION. THE HEAD OF SCHOOL HOLDS A MULTI-YEAR EMPLOYMENT AGREEMENT THAT INCLUDES SALARY AND COMPENSATION DETAILS. THE HEAD OF SCHOOL'S EMPLOYMENT AGREEMENT CAN BE AMENDED AT ANY TIME AT THE DISCRETION OF THE BOARD OF TRUSTEES. IN ANTICIPATION OF THE CONCLUSION OF A MULTI-YEAR EMPLOYMENT AGREEMENT, THE BOARD OF TRUSTEES REVIEWS THE PERFORMANCE OF THE HEAD OF SCHOOL AND DETERMINES WHETHER TO EXTEND THE HEAD'S LEADERSHIP BY OFFERING A NEW EMPLOYMENT AGREEMENT. THE PRESIDENT OF THE BOARD WORKS WITH THE CHIEF FINANCIAL OFFICER TO DRAFT THE EMPLOYMENT AGREEMENT THAT IS THEN OFFERED TO THE HEAD OF SCHOOL. WHEN AN EMPLOYMENT AGREEMENT IS OFFERED AND EXECUTED BY BOTH PARTIES, IT IS THEN FORWARDED TO THE CHIEF FINANCIAL OFFICER. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). ALL DOCUMENTS ARE AVAILABLE TO BE VIEWED ON-SITE AS WELL. IN ADDITION, THE FORM 990 WITHOUT SCHEDULE B IS AVAILABLE VIA CANDID (FORMERLY KNOWN AS GUIDESTAR) AND THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. |