FAY SCHOOL INC: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- FAY SCHOOL INC (EIN 04-2103573)
- Tax period
- 2021-07-01 to 2022-06-30
- Filed
- 2023-05-11
- IRS object ID
- 202301319349300215
- Schema version
- 2021v4.2
- 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 G
- Schedule I
- Schedule J
- Schedule K
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2023-05-11T06:49:18-05:00 | ReturnTs |
| Tax Period End | 2022-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 410746749 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 29 SOUTH MAIN STREET 4TH FLOOR | AddressLine1Txt |
| City | WEST HARTFORD | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06107 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042103573 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE FAY SCHOOL INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | FAYS | BusinessNameControlTxt |
| Phone | 5084850100 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 48 MAIN STREET | AddressLine1Txt |
| City | SOUTHBOROUGH | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 017721595 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DIANE BYRNE | PersonNm |
| Person Title | ASS'T HEAD FOR FINANCE AND OPS | PersonTitleTxt |
| Phone | 5084850100 | PhoneNum |
| Signature | 2023-05-08 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | DIANE | PersonFirstNm |
| Person Last | BYRNE | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JOHN TOSCANO | PreparerPersonNm |
| PTIN | P00358542 | PTIN |
| Phone | 8605614000 | PhoneNum |
| Preparation | 2023-05-08 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | ROBERT GUSTAVSON | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 48 MAIN STREET | AddressLine1Txt |
| City | SOUTHBOROUGH | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 017721595 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $33,484,139 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.FAYSCHOOL.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1866 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | TO NURTURE EACH CHILD'S POTENTIAL THROUGH A BROAD, BALANCED, AND CHALLENGING PROGRAM THAT ESTABLISHES THE FOUNDATION FOR A MEANINGFUL LIFE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 21 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 21 | VotingMembersIndependentCnt |
| Total Employee | 273 | TotalEmployeeCnt |
| Total Volunteers | 100 | TotalVolunteersCnt |
| Total Gross UBI | $7,131 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $5,380,351 | PYContributionsGrantsAmt |
| CY Contributions Grants | $3,703,264 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $24,075,245 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $25,815,824 | CYProgramServiceRevenueAmt |
| PY Investment Income | $3,132,275 | PYInvestmentIncomeAmt |
| CY Investment Income | $3,099,321 | CYInvestmentIncomeAmt |
| PY Other Revenue | $56,219 | PYOtherRevenueAmt |
| CY Other Revenue | $161,274 | CYOtherRevenueAmt |
| PY Total Revenue | $32,644,090 | PYTotalRevenueAmt |
| CY Total Revenue | $32,779,683 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $3,677,819 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $3,558,017 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $14,630,782 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $15,545,559 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $665,972 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $10,128,309 | PYOtherExpensesAmt |
| CY Other Expenses | $10,657,503 | CYOtherExpensesAmt |
| PY Total Expenses | $28,436,910 | PYTotalExpensesAmt |
| CY Total Expenses | $29,761,079 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,207,180 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $3,018,604 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $132,674,309 | TotalAssetsBOYAmt |
| Total Assets EOY | $128,787,216 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $63,914,883 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $67,184,452 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $68,759,426 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $61,602,764 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TO NURTURE EACH CHILD'S POTENTIAL THROUGH A BROAD, BALANCED, AND CHALLENGING PROGRAM THAT ESTABLISHES THE FOUNDATION FOR A MEANINGFUL LIFE. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $23,475,999 | ExpenseAmt |
| Grant | $3,543,666 | GrantAmt |
| Revenue | $25,037,659 | RevenueAmt |
| Desc | INSTRUCTION AND EDUCATION: FORMAL EDUCATION OF 484 STUDENTS GRADES K-9 IN CO-ED DAY & BOARDING SETTING. AS A DAY AND BOARDING SCHOOL FOR STUDENTS IN KINDERGARTEN THROUGH GRADE NINE AND AN EARLY LEARNING CENTER FROM AGES 2.9 TO 5, FAY SCHOOL IS A COMMUNITY BUILT ON FIVE CORE VALUES: ACADEMIC EXCELLENCE; HONORABLE CONDUCT; DEDICATED SERVICE; EARNEST EFFORT; AND WELLNESS OF MIND, BODY, AND SPIRIT. WHILE THE SCHOOL HAS GROWN AND EVOLVED SINCE ITS FOUNDING IN 1866, OUR CENTRAL PURPOSE HAS REMAINED CONSTANT. FAY PROVIDES A BROAD AND CHALLENGING PROGRAM THAT EMPOWERS STUDENTS TO DISCOVER THEIR TALENTS, DEVELOP THEIR INTELLECTUAL ABILITIES, ESTABLISH ESSENTIAL ACADEMIC SKILLS AND KNOWLEDGE, AND DEFINE THEIR MORAL CHARACTER. EARNEST EFFORT HAS BEEN EMPHASIZED THROUGHOUT THE SCHOOL'S HISTORY, AS ENSHRINED IN OUR MOTTO, POTERIS MODO VELIS ("YOU CAN IF YOU WILL"). FAY IS DEDICATED TO EDUCATING CHILDREN TO THEIR FULL POTENTIAL IN THE EARLY CHILDHOOD, ELEMENTARY, AND MIDDLE SCHOOL YEARS BY HELPING THEM RECOGNIZE AND DEVELOP THEIR INTELLECTUAL, AESTHETIC, PHYSICAL, SOCIAL, AND EMOTIONAL CAPABILITIES. WE TEACH OUR STUDENTS ESSENTIAL, ENDURING SKILLS: TO READ WELL, TO WRITE AND SPEAK CLEARLY AND COHERENTLY, TO REASON SOUNDLY, TO QUESTION THOUGHTFULLY, AND TO STUDY EFFECTIVELY. THESE SKILLS SUPPORT THEIR ABILITY TO LEAD, TO COLLABORATE, TO CREATE, AND TO SOLVE PROBLEMS. LOVE OF LEARNING BRINGS US TOGETHER, AND WE ENCOURAGE OUR STUDENTS TO BE CURIOUS, CREATIVE, AND OPEN TO NEW IDEAS. FAY'S SAFE AND SUPPORTIVE ENVIRONMENT ALLOWS STUDENTS TO TAKE RISKS AND ENCOURAGES THEM TO LEARN FROM MISTAKES, WITHIN THE CONTEXT OF HIGH EXPECTATIONS REGARDING ACADEMIC PERFORMANCE AND ETHICAL CONDUCT. OUR TEACHERS KNOW THEIR STUDENTS AS INDIVIDUALS AND HELP THEM COME TO KNOW THEMSELVES. AS FAY STUDENTS GROW, THEY DEVELOP AN UNDERSTANDING AND ACCEPTANCE OF THEIR OWN CHALLENGES AND STRENGTHS AS LEARNERS. HONESTY, RESPECT, RESPONSIBILITY, EMPATHY, AND KINDNESS INFORM OUR CONDUCT. THE DEVELOPMENT OF MANNERS, CIVILITY, AND INTEGRITY ARE HALLMARKS OF OUR SCHOOL. AT EVERY GRADE LEVEL, WE EMPHASIZE AN OBLIGATION TO HELP ENSURE THE WELL-BEING OF OTHERS. AS A HOME FOR BOARDING STUDENTS FROM MANY CULTURES AND BACKGROUNDS THROUGHOUT THE UNITED STATES AND AROUND THE WORLD, FAY IS AN INCLUSIVE COMMUNITY THAT RECOGNIZES, RESPECTS, AND CELEBRATES THE FULL RANGE OF HUMAN DIVERSITY. IN ALL OF THESE WAYS, FAY PREPARES OUR STUDENTS TO LEAD PRODUCTIVE AND FULFILLING LIVES THAT MAKE A POSITIVE DIFFERENCE IN THE WORLD. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $424,613 | ExpenseAmt |
| Grant | $14,351 | GrantAmt |
| Revenue | $840,021 | RevenueAmt |
| Desc | SUMMER PROGRAMS INCLUDE SUMMER DAY CAMP AND A VIRTUAL INTERNATIONAL ENGLISH LANGUAGE PROGRAM. SUMMER CAMP IS A DYNAMIC, HANDS-ON PROGRAM FOR CHILDREN ENTERING KINDERGARTEN THROUGH GRADE NINE. OUR PROGRAM PROVIDES CAMPERS AND STUDENTS WITH AN ENGAGING AND NURTURING ATMOSPHERE THAT ENCOURAGES EXPLORATION, CREATIVITY, AND LASTING CONNECTIONS AMONGCHILDREN AND ADULTS. THE VIRTUAL INTERNATIONAL ENGLISH LANGUAGE PROGRAM MAKES IT POSSIBLE FOR INTERNATIONAL STUDENTS AGED 10-15 TO PARTICIPATE IN THE FAY EXPERIENCE REGARDLESS OF THEIR LEVEL OF ENGLISH PROFICENCY. IT PROVIDES A MEANINGFUL INTRODUCTION TO FAY FOR STUDENTS ENROLLING FULL TIME IN THE UPCOMING ACADEMIC YEAR AS WELL AS A STAND-ALONE PROGRAM FOR INTERNATIONAL STUDENTS WHO WISH TO FOCUS ON DEVELOPING THEIR ENGLISH SKILLS DURING THE SUMMER MONTHS, WITH THE APPROPRIATE LEVEL OF CHALLENGE AND SUPPORT. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $23,900,612 | 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 | Yes (1) | CollectionsOfArtInd |
| Credit Counseling | 0 | 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 | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (1) | 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 | 122 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 273 | 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 |
| 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 | 21 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 21 | 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 | 0 | 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 |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FAY SCHOOL BUSINESS OFFICE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5084850100 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 48 MAIN STREET | AddressLine1Txt |
| City | SOUTHBOROUGH | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 017721595 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (28 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 |
|---|---|---|---|---|---|---|---|
| PETER BAUER | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| MELISSA BOIS | |||||||
| TREASURER | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| ELEANOR BROWN | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ALEX CURTIS | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| BRENDON GIBLIN | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| HEATHER R GIROLAMO | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| NOREEN HARRINGTON | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| DAVID HARRIS | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| JAE HOON KIM | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ANN LAQUERRE | |||||||
| VICE PRESIDENT | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| WARREN LEE | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| HELEN LIN | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| DOUG LOUD | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| SEAN LU | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| SARA R MARS | |||||||
| SECRETARY | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| JESSICA MOORAJ | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| WILLIAM PICARDI | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| JAMES P SHAY | |||||||
| PRESIDENT | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| JOHN SIMON | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ARTHUR TING | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| FAITH WALLACE-GADSDEN | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ROBERT GUSTAVSON | |||||||
| HEAD OF SCHOOL | 37.50 | $545,704 | $0 | $182,929 | Yes (X) | ||
| DIANE BYRNE | |||||||
| ASS'T HEAD OF SCHOOL FOR F | 37.50 | $268,775 | $0 | $71,395 | Yes (X) | ||
| ROBERT CRAWFORD | |||||||
| DIRECTOR OF ADVANCEMENT | 37.50 | $205,637 | $0 | $113,883 | Yes (X) | ||
| SARAH REMSBERG | |||||||
| HEAD OF UPPER SCHOOL | 37.50 | $138,257 | $0 | $41,235 | Yes (X) | ||
| ELIZABETH WHITNEY | |||||||
| DIRECTOR OF ADMISSION | 37.50 | $162,743 | $0 | $97,343 | Yes (X) | ||
| STEVEN JENSEN | |||||||
| DIRECTOR OF INNOVATION | 37.50 | $147,089 | $0 | $54,050 | Yes (X) | ||
| KATHERINE KNUPPEL | |||||||
| HEAD OF PRIMARY SCHOOL & DIR OF ELC | 37.50 | $135,376 | $0 | $47,353 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,603,581 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $608,188 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 13 | 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 |
|---|---|---|---|---|---|
| DELLBROOK CONSTRUCTION LLC | |||||
| ONE ADAMS PLACE 859 WILLARD ST | QUINCY | MA | 02169 | CONSTRUCTION | $4,703,159 |
| SAGE DINING SERVICES INC | |||||
| 1402 YORK ROAD SUITE 100 | LUTHERVILLE | MD | 21093 | DINING | $1,295,786 |
| UNICLEAN SERVICE CORPORATION - AKA HOGLA | |||||
| PO BOX 497 | REVERE | MA | 02151 | JANITORIAL | $532,406 |
| ECK MACNEELY ARCHITECTS INC | |||||
| 580 HARRISON AVENUE SUITE 3N | BOSTON | MA | 02118 | ARCHITECTURE | $423,064 |
| CIC HEALTH TESTING SERVICES LLC | |||||
| ONE BROADWAY 14TH FLOOR | CAMBRIDGE | MA | 02142 | COVID TESTING | $258,687 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 9 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $29,514 | FundraisingAmt |
| Government Grants | $300,776 | GovernmentGrantsAmt |
| All Other Contributions | $3,372,974 | AllOtherContributionsAmt |
| Noncash Contributions | $138,840 | NoncashContributionsAmt |
| Total Contributions | $3,703,264 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| TUITION AND FEES | 611710 | $24,678,612 | $24,678,612 |
| SUMMER PROGRAMS | 611710 | $840,021 | $840,021 |
| STUDENT SERVICE INCOME | 611710 | $297,191 | $297,191 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $25,815,824 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $741,868 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $136 | UnrelatedBusinessRevenueAmt |
| Exclusion | $741,732 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $103,544 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $103,544 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $103,544 | TotalRevenueColumnAmt |
| Exclusion | $103,544 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $2,062,432 | SecuritiesAmt |
| Other | $912,000 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $616,577 | SecuritiesAmt |
| Other | $402 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,445,855 | SecuritiesAmt |
| Other | $911,598 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,357,453 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $6,995 | UnrelatedBusinessRevenueAmt |
| Exclusion | $2,350,458 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $0 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $29,514 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $4,126 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$4,126 | TotalRevenueColumnAmt |
| Exclusion | -$4,126 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $123,439 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $83,351 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $40,088 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $40,088 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANEOUS INCOME | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $21,768 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $21,768 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $21,768 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $32,779,683 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $25,877,680 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $7,131 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,191,608 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,558,017 | TotalAmt |
| Program Services | $3,558,017 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,085,934 | TotalAmt |
| Program Services | $271,483 | ProgramServicesAmt |
| Management And General | $814,451 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,683,424 | TotalAmt |
| Program Services | $8,564,111 | ProgramServicesAmt |
| Management And General | $1,738,594 | ManagementAndGeneralAmt |
| Fundraising | $380,719 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $636,652 | TotalAmt |
| Program Services | $572,402 | ProgramServicesAmt |
| Management And General | $38,023 | ManagementAndGeneralAmt |
| Fundraising | $26,227 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,290,596 | TotalAmt |
| Program Services | $1,701,285 | ProgramServicesAmt |
| Management And General | $493,327 | ManagementAndGeneralAmt |
| Fundraising | $95,984 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $848,953 | TotalAmt |
| Program Services | $663,844 | ProgramServicesAmt |
| Management And General | $155,671 | ManagementAndGeneralAmt |
| Fundraising | $29,438 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,380 | TotalAmt |
| Management And General | $17,380 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $54,225 | TotalAmt |
| Management And General | $54,225 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $151,800 | TotalAmt |
| Management And General | $151,800 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $475,098 | TotalAmt |
| Program Services | $448,571 | ProgramServicesAmt |
| Management And General | $16,072 | ManagementAndGeneralAmt |
| Fundraising | $10,455 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $319,630 | TotalAmt |
| Program Services | $38,157 | ProgramServicesAmt |
| Management And General | $275,147 | ManagementAndGeneralAmt |
| Fundraising | $6,326 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $36,241 | TotalAmt |
| Program Services | $19,895 | ProgramServicesAmt |
| Management And General | $607 | ManagementAndGeneralAmt |
| Fundraising | $15,739 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $621,220 | TotalAmt |
| Program Services | $604,623 | ProgramServicesAmt |
| Management And General | $13,683 | ManagementAndGeneralAmt |
| Fundraising | $2,914 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $49,878 | TotalAmt |
| Program Services | $992 | ProgramServicesAmt |
| Management And General | $44,338 | ManagementAndGeneralAmt |
| Fundraising | $4,548 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $772,544 | TotalAmt |
| Program Services | $772,544 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,630,447 | TotalAmt |
| Program Services | $2,544,360 | ProgramServicesAmt |
| Management And General | $80,018 | ManagementAndGeneralAmt |
| Fundraising | $6,069 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $269,543 | TotalAmt |
| Program Services | $255,343 | ProgramServicesAmt |
| Management And General | $14,073 | ManagementAndGeneralAmt |
| Fundraising | $127 | FundraisingAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| CONTRACTED SERVICES | $2,439,456 | $2,412,257 | $22,454 | $4,745 |
| OTHER DEPARTMENTAL EXPE | $1,601,890 | $805,311 | $735,071 | $61,508 |
| EQUIPMENT, SUPPLIES AND | $640,026 | $599,561 | $31,227 | $9,238 |
| DUES AND SUBSCRIPTIONS | $509,673 | $27,562 | $476,342 | $5,769 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $68,452 | TotalAmt |
| Program Services | $40,294 | ProgramServicesAmt |
| Management And General | $21,992 | ManagementAndGeneralAmt |
| Fundraising | $6,166 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $29,761,079 | TotalAmt |
| Program Services | $23,900,612 | ProgramServicesAmt |
| Management And General | $5,194,495 | ManagementAndGeneralAmt |
| Fundraising | $665,972 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $41,415 | BOYAmt |
| EOY | $36,719 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,632,445 | BOYAmt |
| EOY | $8,412,148 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,454,045 | BOYAmt |
| EOY | $928,712 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,083,108 | BOYAmt |
| EOY | $7,370,614 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $138,831 | BOYAmt |
| EOY | $147,422 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $812,204 | BOYAmt |
| EOY | $751,273 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $108,306,998 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $53,847,487 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $49,038,560 | BOYAmt |
| EOY | $54,459,511 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $49,893,821 | BOYAmt |
| EOY | $41,580,784 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,323,459 | BOYAmt |
| EOY | $14,885,438 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $256,421 | BOYAmt |
| EOY | $214,595 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $132,674,309 | BOYAmt |
| EOY | $128,787,216 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,318,648 | BOYAmt |
| EOY | $3,811,570 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,182,433 | BOYAmt |
| EOY | $20,347,885 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,360,456 | BOYAmt |
| EOY | $42,946,212 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,053,346 | BOYAmt |
| EOY | $78,785 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $63,914,883 | BOYAmt |
| EOY | $67,184,452 | 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 | $37,912,199 | BOYAmt |
| EOY | $33,554,542 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $30,847,227 | BOYAmt |
| EOY | $28,048,222 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $68,759,426 | BOYAmt |
| EOY | $61,602,764 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $132,674,309 | BOYAmt |
| EOY | $128,787,216 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $3,018,604 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$9,795,378 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$379,888 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| 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 |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,654,726 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $3,010,515 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $2,854,138 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,380,351 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,703,264 | CurrentTaxYearAmt |
| Total | $17,602,994 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,654,726 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $3,010,515 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $2,854,138 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,380,351 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,703,264 | CurrentTaxYearAmt |
| Total | $17,602,994 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $808,796 | SubstantialContributorsTotAmt |
| Public Support Total170 | $16,794,198 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,104,295 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,394,439 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $854,106 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $915,203 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $845,276 | CurrentTaxYearAmt |
| Total | $5,113,319 | TotalAmt |
Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus1 Year | $2,445 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $7,131 | CurrentTaxYearAmt |
| Total | $9,576 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $22,725,889 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $123,841,990 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.73900 | PublicSupportCY170Pct |
| Public Support PY170 | 0.71560 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
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) |
|---|---|---|
| Solicited Assets Sale | 0 | SolicitedAssetsSaleInd |
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $34,492,206 | BeginningYearBalanceAmt |
| Contributions | $95,595 | ContributionsAmt |
| Investment Earnings Or Losses | -$4,150,104 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $290,507 | GrantsOrScholarshipsAmt |
| Other Expenditures | $896,182 | OtherExpendituresAmt |
| End Year Balance | $29,251,008 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $26,932,540 | BeginningYearBalanceAmt |
| Contributions | $721,810 | ContributionsAmt |
| Investment Earnings Or Losses | $9,038,642 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $331,305 | GrantsOrScholarshipsAmt |
| Other Expenditures | $1,869,481 | OtherExpendituresAmt |
| End Year Balance | $34,492,206 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $27,550,678 | BeginningYearBalanceAmt |
| Contributions | $187,060 | ContributionsAmt |
| Investment Earnings Or Losses | -$234,492 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $240,456 | GrantsOrScholarshipsAmt |
| Other Expenditures | $330,250 | OtherExpendituresAmt |
| End Year Balance | $26,932,540 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $26,825,573 | BeginningYearBalanceAmt |
| Contributions | $173,609 | ContributionsAmt |
| Investment Earnings Or Losses | $2,284,209 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $403,295 | GrantsOrScholarshipsAmt |
| Other Expenditures | $1,329,418 | OtherExpendituresAmt |
| End Year Balance | $27,550,678 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $23,624,372 | BeginningYearBalanceAmt |
| Contributions | $2,090,800 | ContributionsAmt |
| Investment Earnings Or Losses | $3,237,387 | InvestmentEarningsOrLossesAmt |
| Grants Or Scholarships | $533,423 | GrantsOrScholarshipsAmt |
| Other Expenditures | $1,593,563 | OtherExpendituresAmt |
| End Year Balance | $26,825,573 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.19720 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.80280 | PrmnntEndowmentBalanceEOYPct |
| 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 | $3,181,707 | OtherCostOrOtherBasisAmt |
| Book Value | $3,181,707 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $73,242,864 | OtherCostOrOtherBasisAmt |
| Depreciation | $40,640,878 | DepreciationAmt |
| Book Value | $32,601,986 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $10,431,163 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,848,956 | DepreciationAmt |
| Book Value | $4,582,207 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $21,451,264 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,357,653 | DepreciationAmt |
| Book Value | $14,093,611 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $54,459,511 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (4 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| FUND OF FUNDS | $153,021 | C |
| REAL ASSETS | $10,037,922 | C |
| DOMESTIC EQUITY | $2,474,797 | C |
| INTERNATIONAL EQUITY | $2,219,698 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $14,885,438 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER LIABILITIES | Desc |
| Amt | $78,785 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $78,785 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $18,898,726 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$9,795,378 | NetUnrealizedGainsInvstAmt |
| Other Revenue | -$3,933,779 | OtherRevenueAmt |
| Revenue Not Reported | -$13,729,157 | RevenueNotReportedAmt |
| Revenue Subtotal | $32,627,883 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $151,800 | InvestmentExpensesNotIncldAmt |
| Revenue Not Reported Fincl Stmt | $151,800 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $32,779,683 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $26,055,388 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $4,126 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $4,126 | ExpensesNotReportedAmt |
| Expenses Subtotal | $26,051,262 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $151,800 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $3,558,017 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $3,709,817 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $29,761,079 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART III, LINE 1A: | SINCE THE LATE 1900'S THE SCHOOL HAS ACQUIRED A COMPLETE SET OF PRESIDENTIAL AUTOGRAPHS AND DISPLAYS THEM FOR THE COMMUNITY. THE SCHOOL OWNED ONE OF A SMALL NUMBER OF ST. GAUDEN STATUES OF PRESIDENT LINCOLN CAST IN THE EARLY 1900'S. THE SCHOOL SOLD THE STATUE AT AUCTION IN FEBRUARY 2022. |
| PART V, LINE 4: | THE ENDOWMENT SUPPORTS THE EDUCATIONAL MISSION OF THE SCHOOL BY PROVIDING SUPPORT FOR FINANCIAL AID FOR STUDENTS, FACULTY COMPENSATION AND CONTINUING EDUCATION, SCHOOL PROGRAMS AND FACILITIES AS WELL AS GENERAL SUPPORT FOR SCHOOL OPERATIONS. DURING THE YEAR, THE ORGANIZATION REASSESSED AMOUNTS PREVIOUSLY CLASSIFIED AS ENDOWMENTS. AS A RESULT, CERTAIN AMOUNTS WERE RECLASSIFIED AND PRESENTED IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. |
| PART X, LINE 2: | THE SCHOOL HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 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: | CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT -162,630. FUNDRAISING EXPENSES 4,126. FINANCIAL AID -3,558,017. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -41,826. LOSS ON BOND REFUNDING -175,432. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | FUNDRAISING EXPENSES 4,126. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | FINANCIAL AID 3,558,017. |
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 | Yes (1) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE E, PART I, LINE 3 | THE FAY SCHOOL IS INCLUDED IN THE GROUP LISTING OF INDEPENDENT SCHOOLS, WHOSE RACIALLY NONDISCRIMINATORY POLICY IS DISCLOSED IN THE BOSTON GLOBE EACH FALL. |
| SCHEDULE E, PART I, LINE 6 | ON APRIL 20, 2020, THE SCHOOL RECEIVED A PAYCHECK PROTECTION PROGRAM (PPP) LOAN IN THE AMOUNT OF $2,106,018, GRANTED BY THE SMALL BUSINESS ADMINISTRATION (SBA) UNDER THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (CARES ACT). ON MAY 15, 2020, $300,776 WAS PAID DOWN TO THE LENDER, RESULTING IN A LOAN PAYABLE BALANCE OF $1,805,242. ON JUNE 21, 2021, THE SCHOOL WAS NOTIFIED BY THE LENDER THAT THE PPP LOAN OF $1,805,242 WAS FORGIVEN. THE SCHOOL DOES NOT OTHERWISE RECEIVE AND FEDERAL AID OR ASSISTANCE FROM A GOVERNMENT AGENCY. DURING THE YEAR ENDED JUNE 30, 2022, THE SCHOOL WAS REFUNDED THE $300,776 BY THE LENDER. |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | PA FUNDRAISER | Event1Nm |
| Gross Receipts Event1 | $29,514 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $29,514 | CharitableContriEvent1Amt |
| Food And Beverage Event1 | $800 | FoodAndBeverageEvent1Amt |
| Other Direct Expenses Event1 | $3,326 | OtherDirectExpensesEvent1Amt |
| Gross Receipts Total | $29,514 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $29,514 | CharitableContributionsTotAmt |
| Food And Beverage Total Events | $800 | FoodAndBeverageTotalEventsAmt |
| Oth Direct Expnss Total Events | $3,326 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $4,126 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | -$4,126 | NetIncomeSummaryAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (2 entries)
| Grant TypeGrantTypeTxt | RecipientRecipientCnt | Non Cash AssistanceNonCashAssistanceAmt | Valuation Method UsedValuationMethodUsedDesc | Non Cash AssistanceNonCashAssistanceDesc |
|---|---|---|---|---|
| FINANCIAL AID | 132 | $3,543,666 | FMV | TUITION ASSISTANCE |
| FINANCIAL AID FOR SUMMER CAMP | 21 | $14,351 | FMV | TUITION ASSISTANCE |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE FAY SCHOOL OFFERS FINANCIAL AID OR SCHOLARSHIP ASSISTANCE TO FAMILIES WITH A DEMONSTRATED FINANCIAL NEED. TO APPLY, PARENTS MUST COMPLETE THE PARENTS' FINANCIAL STATEMENTS (PFS) AND SUBMIT THAT TO THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID IN PRINCETON, N.J. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Discretionary Spending Acct | Yes (X) | DiscretionarySpendingAcctInd |
| Housing Allowance Or Residence | Yes (X) | HousingAllowanceOrResidenceInd |
| Personal Services | Yes (X) | PersonalServicesInd |
| 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 |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| 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 (7 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROBERT GUSTAVSON | ||||||||||||||
| HEAD OF SCHOOL | $530,250 | $0 | $0 | $0 | $15,454 | $0 | $130,043 | $0 | $52,886 | $0 | $728,633 | $0 | $0 | $0 |
| DIANE BYRNE | ||||||||||||||
| ASS'T HEAD OF SCHOOL FOR F | $268,001 | $0 | $0 | $0 | $774 | $0 | $39,050 | $0 | $32,345 | $0 | $340,170 | $0 | $0 | $0 |
| ROBERT CRAWFORD | ||||||||||||||
| DIRECTOR OF ADVANCEMENT | $205,223 | $0 | $0 | $0 | $414 | $0 | $32,051 | $0 | $81,832 | $0 | $319,520 | $0 | $0 | $0 |
| ELIZABETH WHITNEY | ||||||||||||||
| DIRECTOR OF ADMISSION | $162,473 | $0 | $0 | $0 | $270 | $0 | $26,551 | $0 | $70,792 | $0 | $260,086 | $0 | $0 | $0 |
| STEVEN JENSEN | ||||||||||||||
| DIRECTOR OF INNOVATION | $146,819 | $0 | $0 | $0 | $270 | $0 | $22,894 | $0 | $31,156 | $0 | $201,139 | $0 | $0 | $0 |
| KATHERINE KNUPPEL | ||||||||||||||
| HEAD OF PRIMARY SCHOOL & DIR OF ELC | $135,106 | $0 | $0 | $0 | $270 | $0 | $20,594 | $0 | $26,759 | $0 | $182,729 | $0 | $0 | $0 |
| SARAH REMSBERG | ||||||||||||||
| HEAD OF UPPER SCHOOL | $137,987 | $0 | $0 | $0 | $270 | $0 | $21,017 | $0 | $20,218 | $0 | $179,492 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | ON OCCASION, THE SPOUSE OF THE HEAD OF SCHOOL MAY TRAVEL TO EVENTS REPRESENTING THE SCHOOL. |
| PART I, LINE 1B | THE HEAD OF SCHOOL HAS A DISCRETIONARY SPENDING ALLOWANCE TO BE USED FOR SCHOOL EXPENSES NOT INDENTIFIED IN THE BUDGET PROCESS. |
| PART I, LINE 3 | AS A CONDITION OF EMPLOYMENT AND IN ORDER TO PERFORM HIS DUTIES THE HEAD OF SCHOOL IS REQUIRED TO LIVE ON CAMPUS IN A SCHOOL OWNED PROPERTY. THIS BUILDING IS CLEANED AND MAINTAINED BY SCHOOL PERSONNEL AND OUTSIDE CONTRACTORS. INCLUDED IN ROBERT GUSTAVSON'S COLUMN D IS AN AMOUNT FOR 5% OF THE VALUE OF THE PROPERTY INCLUDING UTILITIES TOTALING $52,536. |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MASSACHUSETTS DEVELOPMENT FINANCE AGENCY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Issuer EIN | 043431814 | BondIssuerEIN |
| Bond Issued | 2021-07-30 | BondIssuedDt |
| Issue Price | $45,025,000 | IssuePriceAmt |
| Purpose | REFUNDING OF PRIOR BOND ISSUE, CONSTRUCTION & ISSUE COSTS, SWAP SETTLEMENT | PurposeDesc |
| Defeased | 0 | DefeasedInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Pool Financing | 0 | PoolFinancingInd |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Retired | $1,706,730 | RetiredAmt |
| Total Proceeds | $45,025,000 | TotalProceedsAmt |
| Refunding Escrow | $32,464,897 | RefundingEscrowAmt |
| Issuance Costs From Proceeds | $250,060 | IssuanceCostsFromProceedsAmt |
| Capital Expenditures | $5,000,000 | CapitalExpendituresAmt |
| Other Spent Proceeds | $7,310,043 | OtherSpentProceedsAmt |
| Substantial Completion | 2021 | SubstantialCompletionYr |
| Refunding Tax Exempt Bonds | Yes (1) | RefundingTaxExemptBondsInd |
| Refunding Taxable Bonds | 0 | RefundingTaxableBondsInd |
| Final Allocation Made | Yes (1) | FinalAllocationMadeInd |
| Adequate Books And Rec Maint | Yes (1) | AdequateBooksAndRecMaintInd |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | 0 | OwningBondFinancedPropertyInd |
| Any Lease Arrangements | 0 | AnyLeaseArrangementsInd |
| Mgmt Contract Bond Fincd Prop | 0 | MgmtContractBondFincdPropInd |
| Any Research Agreements | 0 | AnyResearchAgreementsInd |
| Bond Iss Meet Prvt Sec Pymt Test | 0 | BondIssMeetPrvtSecPymtTestInd |
| Change In Use Bond Financed Prop | 0 | ChangeInUseBondFinancedPropInd |
| Procs Nonqualified Bond Remdtd | Yes (1) | ProcsNonqualifiedBondRemdtdInd |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | 0 | Form8038TFiledInd |
| Rebate Not Due Yet | 0 | RebateNotDueYetInd |
| Exception To Rebate | 0 | ExceptionToRebateInd |
| No Rebate Due | 0 | NoRebateDueInd |
| Variable Rate Issue | Yes (1) | VariableRateIssueInd |
| Hedge Identified In Bks And Rec | 0 | HedgeIdentifiedInBksAndRecInd |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGICInd |
| Gross Proceeds Invested | 0 | GrossProceedsInvestedInd |
| Written Proc To Monitor Reqs | 0 | WrittenProcToMonitorReqsInd |
Procedures Corrective Action ProceduresCorrectiveActionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Procedures Corrective Action | Yes (1) | ProceduresCorrectiveActionInd |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 17 | ContributionCnt |
| Noncash Contributions Rpt F990 | $138,840 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| 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 AMOUNT REPORTED IN PART I, COLUMN (B) REPRESENTS THE TOTAL NUMBER OF CONTRIBUTIONS. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | THE FULL BOARD OF TRUSTEES REVIEWS THE ENTIRE FORM 990 WITH THE EXCEPTION OF SCHEDULE B WHICH IS NOT REVIEWED BY THE BOARD DUE TO ITS SENSITIVE NATURE. SCHEDULE B OF FORM 990 IS REVIEWED BY THE HEAD OF SCHOOL AND THE ASSISTANT HEAD OF SCHOOL FOR FINANCE AND OPERATIONS. |
| FORM 990, PART VI, SECTION B, LINE 12C | AT THE FIRST BOARD MEETING EACH YEAR (OCT/NOV) EACH TRUSTEE COMPLETES A CONFLICT OF INTEREST STATEMENT THAT IS HELD IN THE HEAD OF THE SCHOOL'S OFFICE FOR THE YEAR. THE POLICY GETS REVIEWED PRIOR TO AUDIT AND UPDATED ANNUALLY. FAY SCHOOL CURRENTLY FOLLOWS NAIS GUIDELINES FOR ITS WHISTLE BLOWER AND DOCUMENT RETENTION AND DESTRUCTION POLICIES. THE SCHOOL HAS FORMALIZED ITS OWN POLICIES AND WILL INCLUDE THEM IN THEIR EMPLOYEE HANDBOOK. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES DETERMINES THE COMPENSATION FOR THE HEAD OF SCHOOL. THE HEAD OF SCHOOL HAS A WRITTEN CONTRACT. THE INFORMATION INCLUDED FOR THIS COMPENSATION REVIEW INCLUDES A REBUTTABLE PRESUMPTION CHECKLIST AMONG OTHER PROCEDURES. ALL OTHER PERSONNEL SALARIES ARE DETERMINED BY THE HEAD OF SCHOOL WITH INPUT FROM THE ASSISTANT HEAD OF SCHOOL FOR FINANCE AND OPERATIONS. |
| FORM 990, PART VI, SECTION C, LINE 18 | THE ORGANIZATION'S TAX FILINGS ARE AVAILABLE ONLINE FOR VIEWING AT WWW.GUIDESTAR.ORG, A WEBSITE USED TO RATE NON-PROFITS FOR POTENTIAL DONORS. THE TAX FILINGS ARE ALSO AVAILABLE AT THE MASSACHUSETTS ATTORNEY GENERAL'S DIVISION FOR PUBLIC CHARITIES WEBSITE AND AT THE SCHOOL. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION'S TAX FILINGS ARE AVAILABLE ONLINE FOR VIEWING AT WWW.GUIDESTAR.ORG, A WEBSITE USED TO RATE NON-PROFITS FOR POTENTIAL DONORS. THE TAX FILINGS AND FINANCIAL STATEMENTS ARE ALSO AVAILABLE AT THE MASSACHUSETTS ATTORNEY GENERAL'S DIVISION FOR PUBLIC CHARITIES WEBSITE AND AT THE SCHOOL. |
| FORM 990, PART XI, LINE 9: | CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT -162,630. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -41,826. LOSS ON BOND REFUNDING -175,432. |
| FORM 990, PART XII, LINE 2C | THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. |