2023-01-30T16:39:34-06:00 2022-06-30 410746749 CLIFTONLARSONALLEN 29 SOUTH MAIN STREET 4TH FLOOR WEST HARTFORD CT 06107 990 2021-07-01 042178868 THE CHESTNUT HILL SCHOOL CHES 6175664394 428 HAMMOND STREET CHESTNUT HILL MA 024671229 DIANA BLAZER INTERIM HEAD OF SCHOOL 6175664394 2023-01-27 1 DIANA BLAZER 999009999 JOHN TOSCANO P00358542 8605614000 2023-01-27 3 AAL1 IAL1 2021 2023-03-07 01:45:13Z DIANA BLAZER 428 HAMMOND STREET CHESTNUT HILL MA 024671229 18287917 0 X WWW.TCHS.ORG X 1919 MA ACADEMIC EXCELLENCE IN A CHALLENGING AND SUPPORTIVE ENVIRONMENT IS THE MISSION OF THE CHESTNUT HILL SCHOOL. THE SCHOOL PROVIDES ITS STUDENTS WITH A STRONG FOUNDATION OF LEARNING SKILLS IN A TEACHING ENVIRONMENT WHICH FOSTERS SELF ESTEEM AND EMPOWERS THEM WITH ENTHUSIASM FOR AND CURIOSITY ABOUT DISCOVERING KNOWLEDGE. WITHIN AN ACTIVE COMMUNITY OF STUDENTS, FACULTY, AND FAMILIES, THE CHESTNUT HILL SCHOOL PROMOTES RESPECT BETWEEN INDIVIDUALS AND INVOLVEMENT WITH THE LARGER COMMUNITY. 20 17 161 24 -5190 0 729734 3801101 8383435 11072177 459551 542603 0 -6079 9572720 15409802 1486024 1798504 0 0 5962514 7282249 0 0 311648 2328045 2799915 9776583 11880668 -203863 3529134 32049027 33385087 17982409 16627589 14066618 16757498 X AT THE CHESTNUT HILL SCHOOL, OUR MISSION TO EDUCATE CHILDREN IS DEEPLY ROOTED IN A COMMITMENT TO ACADEMIC EXCELLENCE, DIVERSITY, AND COMMUNITY. WE ENGAGE, CHALLENGE AND SUPPORT CHILDREN AS THEY DEVELOP THE SKILLS AND CONFIDENCE TO ACHIEVE EDUCATIONAL SUCCESS. WE NURTURE THE WHOLE CHILD THROUGH A THOUGHTFUL, BALANCED CURRICULUM. WE INTENTIONALLY BUILD A DIVERSE SCHOOL COMMUNITY, AND WE VALUE, RESPECT, AND EDUCATE OURSELVES ABOUT ITS COMPLEXITIES AND GIFTS. WE FOSTER THE GROWTH OF OUR STUDENTS SO THEY WILL BECOME RESPONSIBLE, CONTRIBUTING MEMBERS OF THE WORLD WHO STAND UP FOR THEIR BELIEFS, EXPRESS THEIR THOUGHTS, AND CARE ABOUT THE RIGHTS AND FEELINGS OF OTHERS. 0 0 7448569 1524500 9485844 THE CHESTNUT HILL SCHOOL IS A COEDUCATIONAL DAY SCHOOL FOR CHILDREN FROM BEGINNERS THROUGH SIXTH GRADE THAT FOSTERS AN INCLUSIVE COMMUNITY OF JOYFUL LEARNERS WHO THINK CRITICALLY, EMBRACE DIVERSITY, AND ACT WITH EMPATHY. THE CHESTNUT HILL SCHOOL IS GROUNDED BY THE VALUES AND GUIDING PRINCIPLES OF BELONGING, PURSUIT OF KNOWLEDGE, PERSEVERANCE AND KINDNESS. 259 STUDENTS, 50% IDENTIFY AS STUDENTS OF COLOR, 27% RECEIVE FINANCIAL ASSISTANCE. TEACHING FACULTY: 45 TOTAL; 44% HAVE ADVANCED DEGREES. 100% OF GRADUATING SIXTH GRADERS WERE OFFERED ADMISSION TO ONE OF THEIR TOP CHOICE SCHOOLS. THE GENEROUS SUPPORT OF OUR DONORS AND VOLUNTEERS ALLOWS THE CHESTNUT HILL SCHOOL TO ACCOMPLISH MANY OF THE THINGS THAT SET IT APART FROM OTHER INDEPENDENT ELEMENTARY SCHOOLS. WE ARE ABLE TO RETAIN THE MOST QUALIFIED AND CARING FACULTY, PROVIDE A WIDE RANGE OF SPECIAL SUBJECTS, MAINTAIN BEAUTIFUL GROUNDS AND BUILDINGS AND PROVIDE FINANCIAL ASSISTANCE TO QUALIFIED STUDENTS. 494810 73487 864445 THE CHESTNUT HILL SCHOOL HOLDS A SUMMER CAMP FOR BOSTON AREA CHILDREN EACH SUMMER THAT PROVIDES MEMBERS OF THE SCHOOL AND LOCAL COMMUNITY WITH A HIGH QUALITY, AFFORDABLE OPTION FOR RECREATION AND EDUCATION DURING SUMMER VACATION. 432427 200517 721888 THE CHESTNUT HILL SCHOOL OFFERS A VARIETY OF BEFORE AND AFTER SCHOOL PROGRAMS TO STUDENTS OF ALL AGES INCLUDING AN EARLY ARRIVAL PROGRAM, EXTENDED DAY, AFTER SCHOOL ENRICHMENT CLASSES, SCHOOL OF MUSIC AND VACATION CAMP. 8375806 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 29 0 1 161 1 0 0 0 0 0 0 0 0 0 0 0 0 X 20 17 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MA X LISA HALM CFO 6172641341 428 HAMMOND STREET CHESTNUT HILL MA 024671229 STEFAN KARLSSON CO-PRESIDENT 1.00 X X 0 0 0 STEPHEN KRAUS CO-PRESIDENT 1.00 X X 0 0 0 JILL KRAVETZ VICE PRESIDENT 1.00 X X 0 0 0 ANGELA SMITH VICE PRESIDENT 1.00 X X 0 0 0 NEIL MANIAR SECRETARY 1.00 X X 0 0 0 RICK WETMORE TREASURER 1.00 X X 0 0 0 FAWN BARILLO ANDERSEN TRUSTEE 1.00 X 0 0 0 NAISHA BRADLEY TRUSTEE 1.00 X 0 0 0 VICTORIA CAIN TRUSTEE 1.00 X 0 0 0 KIRSTEN CHAMPLIN TRUSTEE 1.00 X 0 0 0 EMIL DABORA TRUSTEE 1.00 X 0 0 0 JEFF DODGE OUTGOING TRUSTEE 1.00 X 0 0 0 MICHAEL DOUVADJIAN OUTGOING TRUSTEE 1.00 X 0 0 0 THOMAS FOX TRUSTEE 1.00 X 0 0 0 JANE GLAZAR TRUSTEE 1.00 X 0 0 0 SARAH GREENHILL TRUSTEE 1.00 X 0 0 0 HILLARY GROVE TRUSTEE 1.00 X 0 0 0 JENNIFER HINES OUTGOING TRUSTEE 1.00 X 0 0 0 MELANIE HOFFMEISTER OUTGOING TRUSTEE 1.00 X 0 0 0 CHRISTOPHER JOHNSON OUTGOING TRUSTEE 1.00 X 0 0 0 PAUL MASHIKIAN TRUSTEE 1.00 X 0 0 0 SHRADHA PATEL TRUSTEE 1.00 X 0 0 0 TJ ROSE OUTGOING TRUSTEE 1.00 X 0 0 0 VARSHA TANGUTURI TRUSTEE 1.00 X 0 0 0 LINDSEY VALENTE TRUSTEE 1.00 X 0 0 0 MARCUS YOUNG TRUSTEE 1.00 X 0 0 0 TAMARA SCHURDAK HEAD OF SCHOOL 40.00 X 305878 0 18693 LISA HALM DIRECTOR OF FINANCE 40.00 X 134072 0 39857 TARA HATHAWAY DIRECTOR OF OPERATIONS 40.00 X 120297 0 7985 MARCUS NICKERSON DIRECTOR OF ATHLETICS & SU 40.00 X 114068 0 8555 DIANA BLAZAR ACADEMIC DEAN/DEAN OF FACU 40.00 X 105335 0 6212 779650 0 81302 5 0 1 0 OUNCEIT LLC PO BOX 31374 WORCESTER MA 01613 IT CONSULTING 151597 1 3040932 760169 15377 3801101 TUITION 611710 9346660 9346660 CAMP, AFTERSCHOOL, AND OTHER 611710 1586333 1586333 ALL OTHER PROGRAM SERVICE REVENUE 900099 139184 139184 11072177 156535 -6270 162805 3243717 2857649 386068 386068 1080 384988 14387 20466 -6079 -6079 15409802 11072177 -5190 541714 1798504 1798504 757515 172994 469193 115328 5222102 3752288 1356200 113614 225927 151789 68014 6124 662845 433786 217032 12027 413860 278174 127008 8678 30472 30472 161632 161632 36281 36281 96744 8190 69538 19016 76581 5932 60197 10452 221394 81082 128165 12147 533449 453432 80017 226236 192301 33935 620717 527609 93108 76040 76040 INSTRUCTIONAL SUPPLIES 370977 370977 OTHER OPERATING EXPENSE 227398 50142 162994 14262 STUDENT SERVICES AND AC 98606 98606 COVID EXPENSES 23388 23388 11880668 8375806 3193214 311648 1432927 1080361 1929725 3535609 15000 857377 6583624 6725797 204079 249062 17563497 7966285 9869050 9597212 8695962 7643168 3318660 3696501 32049027 33385087 660051 815040 8545043 8846991 7113542 6965558 1663773 0 17982409 16627589 X 12786887 15489185 1279731 1268313 14066618 16757498 32049027 33385087 X 3529134 -823254 -15000 X X 0 1 X 1 0 X 606053 1031405 611761 729734 3801101 6780054 606053 1031405 611761 729734 3801101 6780054 6780054 118422 152195 170304 149999 162805 753725 7533779 49109756 0.90000 0.85790 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 11402707 40776 250000 11193483 588542 8314946 2839219 8602 331398 11402707 567517 100 20925 588542 286833 265000 22312 6628 567517 254556 31967 737 427 286833 0.93570 0.06430 0.00000 0 0 12000 12000 15054576 6289144 8765432 1471965 963506 508459 1024956 713635 311321 9597212 PRIVATE EQUITY 3696501 F 3696501 X 12757229 -823254 -1813504 -2636758 15393987 36281 -20466 15815 15409802 10066349 20466 20466 10045883 36281 1798504 1834785 11880668 PART V, LINE 4: THE SCHOOL'S ENDOWMENT FUNDS ARE INVESTED FOR LONG-TERM GROWTH IN ORDER TO PROVIDE A RATE OF RETURN WHICH, SUBJECT TO THE SCHOOL'S SPENDING POLICY, WILL BE USED TO SUPPORT THE SCHOOL'S CURRENT AND FUTURE PROGRAMS. PART X, LINE 2: THE SCHOOL HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2022 AND 2021. 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 -1,798,504. PROVISION FOR UNCOLLECTIBLE PLEDGES -15,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES -20,466. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 20,466. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,798,504. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ON AN ANNUAL BASIS THE CHESTNUT HILL SCHOOL PARTICIPATES IN A GROUP ADVERTISEMENT IN THE BOSTON GLOBE REAFFIRMING ITS POLICY OF NON-DISCRIMINATORY ADMISSION OF STUDENTS. SCHEDULE E, PART I, LINE 6 ON APRIL 17, 2020 AND MARCH 25, 2021, THE SCHOOL RECEIVED PAYCHECK PROTECTION PROGRAM (PPP) LOANS OF $1,121,222 AND $542,551, RESPECTIVELY, FROM THE SMALL BUSINESS ADMINISTRATION (SBA) UNDER THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (CARES ACT). ON JULY 21, 2021, THE PPP LOAN OF $1,121,222 WAS FORGIVEN AND ON NOVEMBER 13, 2021, THE SECOND PPP LOAN OF $542,551 WAS FORGIVEN. DURING THE YEAR ENDED JUNE 30, 2022, THE SCHOOL DETERMINED THAT IT MET THE COMPLIANCE REQUIREMENTS AND CONDITIONS OF THE EMPLOYEE RETENTION CREDIT (ERC) PROGRAM. THE SCHOOL RECOGNIZED TOTAL ERC OF $1,377,159 FOR ALL ELIGIBLE QUARTERS AS GOVERNMENT GRANT REVENUE. THE SCHOOL DOES NOT OTHERWISE RECEIVE FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY IN THE ORDINARY COURSE OF BUSINESS. 1 FINANCIAL AID 70 1798504 FAIR VALUE FINANCIAL AID PART I, LINE 2: FINANCIAL AID IS AWARDED THROUGH A PROCESS WHICH BEGINS WITH THE PARENTS' SUBMISSION OF AN APPLICATION TO SCHOOL AND STUDENT SERVICES (SSS). RESULTING INFORMATION IS THEN REVIEWED BY THE SCHOOL'S FINANCIAL AID COMMITTEE, WHICH IS CHARGED WITH FINAL DISTRIBUTION OF APPROVED FINANCIAL AID AWARDS. X 1 1 X X X 0 0 0 0 0 0 0 1 0 TAMARA SCHURDAK HEAD OF SCHOOL 305278 0 0 0 600 0 8100 0 10593 0 324571 0 0 0 LISA HALM DIRECTOR OF FINANCE 131464 0 2000 0 608 0 7737 0 32120 0 173929 0 0 0 PART I, LINE 1A IN ACCORDANCE WITH HER EMPLOYMENT CONTRACT, THE HEAD OF SCHOOL HAS ACCESS TO A DISCRETIONARY SPENDING ACCOUNT TO PAY FOR COSTS AND FEES ASSOCIATED WITH A PROFESSIONAL EXECUTIVE COACH FOR THE BENEFIT OF THE HEAD, IN ADDITION TO OTHER ITEMS ASSOCIATED WITH THE BUSINESS OF THE SCHOOL. PART I, LINE 7 THE DIRECTOR OF FINANCE RECEIVED A DISCRETIONARY BONUS BASED ON THE APPROVAL OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY SERIES 2019 043431814 2019-06-26 7500000 REFUND SERIES 2011 BONDS 0 0 0 A 492305 7500000 7449532 50468 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 0 0 0 0 0 0 A 0 169180 NEED BASED FINANCIAL AID FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION SHALL BE THE TRUSTEES SERVING IN SUCH OFFICE AND PARENTS OR LEGAL GUARDIANS OF THE CHILDREN FROM TIME TO TIME ENROLLED AS FULL TIME STUDENTS IN THE SCHOOL AS SET FORTH ON THE LIST OF FAMILIES MAINTAINED BY THE SCHOOL. FORM 990, PART VI, SECTION A, LINE 7A THE TRUSTEESHIP COMMITTEE SHALL DETERMINE THE NUMBER OF VACANCIES ON THE BOARD OF TRUSTEES AND SHALL PROPOSE A SLATE OF CANDIDATES FOR SUCH VACANCIES TO THE BOARD OF TRUSTEES FOR APPROVAL AT LEAST THIRTY (30) DAYS PRIOR TO THE DATE OF THE ANNUAL MEETING. ONCE A SLATE OF PROPOSED TRUSTEES IS APPROVED BY THE TRUSTEES, THE NAMES OF THE PERSONS SO NOMINATED SHALL BE MAILED TO THE MEMBERS OF THE CORPORATION AND TO THE BOARD NOT LESS THAN FOURTEEN (14) DAYS PRIOR TO THE DATE OF THE ANNUAL MEETING. MEMBERS OF THE CORPORATION MAY PETITION FOR ADDITIONAL NOMINATIONS BY SUBMITTING SUCH PETITION SIGNED BY NOT FEWER THAN FIVE MEMBERS AND SUBMITTED TO THE SECRETARY NOT LESS THAN SEVEN (7) DAYS PRIOR TO THE DATE OF THE ANNUAL MEETING. THE REVISED LIST OF ALL NOMINATIONS MUST BE MAILED TO ALL MEMBERS OF THE CORPORATION NOT LESS THAN THREE (3) DAYS PRIOR TO THE DATE OF THE ANNUAL MEETING. SO LONG AS QUORUM IS PRESENT AT THE ANNUAL MEETING, A VOTE BY A MAJORITY OF THOSE EITHER PRESENT OR REPRESENTED BY PROXY SHALL CONSTITUTE PROPER ELECTION OF CANDIDATES FOR THE OFFICE OF TRUSTEE. ONCE ELECTED, EACH TRUSTEE SHALL SERVE FROM THE DAY FOLLOWING THE ANNUAL MEETING OF HIS/HER SELECTION UNTIL HIS/HER SUCCESSOR IS DULY ELECTED. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 WAS PRESENTED TO THE EXECUTIVE COMMITTEE OF THE GOVERNING BODY BEFORE THE RETURN WAS FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE EXECUTIVE COMMITTEE DISTRIBUTES CONFLICT OF INTEREST STATEMENTS FOR ALL BOARD MEMBERS TO FILL OUT. THE SECRETARY COLLECTS THE STATEMENTS AND REVIEWS ALL DISCLOSURES. THE CONFLICT OF INTEREST STATEMENT STATES THAT BOARD MEMBERS HAVE AN ONGOING RESPONSIBILITY TO DISCLOSE ANY CONFLICTS OR SUSPECTED CONFLICTS WITH THE PRESIDENT OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD REVIEWS SALARY AND BENEFIT INFORMATION PROVIDED THROUGH NAIS STATS ONLINE AND DETERMINES AN APPROPRIATE SALARY (BASED ON THE CHESTNUT HILL SCHOOL'S BUDGET) FOR THE HEAD OF SCHOOL. THE HEAD OF SCHOOL DETERMINES ALL OTHER FACULTY/STAFF COMPENSATION. THESE ARE ALL DETERMINED IN THE SAME MANNER AS THAT USED FOR THE HEAD OF SCHOOL. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST AT ITS BUSINESS OFFICE. FORM 990, PART XI, LINE 9: PROVISION FOR UNCOLLECTIBLE PLEDGES -15,000. FORM 990, PART XII, LINE 2C THE SCHOOL HAS NOT CHANGED ITS OVERSIGHT OR SELECTION PROCESSES DURING THE TAX YEAR.