2023-05-11T15:25:51-05:00 2022-06-30 872525370 CITRIN COOPERMAN ADVISORS LLC 290 W MT PLEASANT AVENUE 3310 LIVINGSTON NJ 07039 990 2021-07-01 042103564 GOVERNOR DUMMER ACADEMY THE GOVERNOR'S ACADEMY GOVE 9784651763 1 ELM STREET BYFIELD MA 01922 CINDY FANIKOS CHIEF FINANCIAL OFFICER 9784993134 2023-05-10 1 CINDY FANIKOS 999009999 PAULA VUKSIC P00360739 9732180500 2023-05-10 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z CINDY FANIKOS 1 ELM STREET BYFIELD MA 01922 54256542 0 X WWW.THEGOVERNORSACADEMY.ORG X 1763 MA THE GOVERNOR'S ACADEMY IS THE OLDEST CONTINUOUSLY OPERATED BOARDING AND DAY SCHOOL IN THE U.S., WHERE YOUNG MEN AND WOMEN IN GRADES 9 THROUGH 12 PREPARE TO BECOME THE CITIZEN LEADERS OF TOMORROW. MORE THAN 400 STUDENTS FROM 23 STATES AND 18 COUNTRIES CREATE A VIBRANT, FASCINATING GLOBAL COMMUNITY. TWO-THIRDS BOARD AND ONE-THIRD ARE DAY STUDENTS. THE ACADEMY SITS ON A BEAUTIFUL 450-ACRE CAMPUS WITH EXTENSIVE FACILITIES FOR ACADEMICS, ATHLETICS, AND VISUAL AND PERFORMING ARTS. 27 27 295 500 184864 170883 14499631 6085707 23835660 25682200 27547566 12798417 153037 697505 66035894 45263829 5872658 5550635 0 0 17977108 18143425 0 0 2640355 11142667 10965439 34992433 34659499 31043461 10604330 175373795 163271740 32635791 29645143 142738004 133626597 X THE GOVERNOR'S ACADEMY, FOUNDED IN 1763 ON NEW ENGLAND FARMLAND, COMBINES CENTURIES OF TRADITION WITH A DEDICATION TO EDUCATIONAL INNOVATION. STUDENTS FLOURISH IN A DIVERSE COMMUNITY DISTINGUISHED BY ENDURING RELATIONSHIPS WITH TEACHERS AND DEFINED BY A COMMITMENT TO LEARNING AND A THOUGHTFUL BALANCE OF ACADEMICS, ATHLETICS, ARTS AND SERVICE TO OTHERS. ACADEMY GRADUATES ARE LIFE-LONG LEARNERS WHO EMBRACE THEIR CIVIC DUTY AND GLOBAL RESPONSIBILITY. 0 0 25812464 5550635 25859127 INNOVATION AND A FORWARD FOCUS ARE AS MUCH A PART OF GOVERNOR'S AS OUR 258-YEAR-OLD HISTORY. THE ACADEMY OFFERS A FULL RANGE OF VISUAL AND PERFORMING ARTS, MORE THAN 50 INTERSCHOLASTIC ATHLETICS TEAMS, AND DOZENS OF SERVICE, LEADERSHIP, CULTURAL, AND RECREATIONAL ACTIVITIES. GOVERNOR'S ATHLETIC TEAMS REGULARLY COMPETE IN LEAGUE AND NEW ENGLAND CHAMPIONSHIPS. ANNUALLY ARTISTS AND WRITERS AT THE ACADEMY WIN DOZENS OF REGIONAL AND NATIONAL AWARDS. ACADEMY GRADUATES GO ON TO ATTEND SOME OF THE TOP COLLEGES AND UNIVERSITIES IN THE WORLD. 25812464 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 92 0 1 295 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 X 27 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X CINDY FANIKOS 9784651763 1 ELM STREET BYFIELD MA 01922 JAMES M PIERCE PRESIDENT 5.00 X X 0 0 0 BETSY ELIZABETH FARRELL SECRETARY 5.00 X X 0 0 0 STEVEN G SHAPIRO TREASURER 5.00 X X 0 0 0 JAMES L RUDOLPH TRUSTEE 5.00 X 0 0 0 BILL ALFOND TRUSTEE 5.00 X 0 0 0 MR BYUNG SOO BAIK TRUSTEE 5.00 X 0 0 0 WILLIAM H BRINE TRUSTEE 5.00 X 0 0 0 FRANK COUSINS JR TRUSTEE 5.00 X 0 0 0 COLIN CROSS TRUSTEE 5.00 X 0 0 0 ROBERT DELENA ALUMNI ASSOCIATION 5.00 X 0 0 0 JONATHAN J DOYLE TRUSTEE 5.00 X 0 0 0 MILAN GARY ALUMNI TRUSTEE 5.00 X 0 0 0 PHILLIP S GILLESPIE TRUSTEE 5.00 X 0 0 0 STEPHANIE GINSBERG TRUSTEE 5.00 X 0 0 0 LUCY HENKES TRUSTEE 5.00 X 0 0 0 STEPHEN G KASNET TRUSTEE 5.00 X 0 0 0 MITZI MICHELE LAWLOR TRUSTEE 5.00 X 0 0 0 KAREN RUTH MCALMON TRUSTEE 5.00 X 0 0 0 THOMAS M MERCER JR TRUSTEE 5.00 X 0 0 0 JENNIFER MIGLIORE ALUMNI TRUSTEE 5.00 X 0 0 0 PAUL NARDONE TRUSTEE 5.00 X 0 0 0 BRIAN PATRICAN TRUSTEE 5.00 X 0 0 0 MOLLY SCHARFE PRINN TRUSTEE 5.00 X 0 0 0 SPENCER L PURINTON TRUSTEE 5.00 X 0 0 0 ARCHIE SEALE TRUSTEE 5.00 X 0 0 0 MARK B WHISTON TRUSTEE 5.00 X 0 0 0 MARIA POLCARI TRUSTEE 5.00 X 0 0 0 PETER QUIMBY HEAD OF SCHOOL 50.00 X 385387 0 63452 CYNTHIA ROSE SCANNELL INCOMING - CFO 50.00 X 119323 0 17556 CHRISTOPHER WEJCHERT OUTGOING - CFO 50.00 X 132543 0 19659 LESLIE LDICKEY DIRECTOR OF ADVANCEMENT 50.00 X 217947 0 41022 MICHAEL KINNEALEY ASSISTANT HEAD OF SCHOOL 50.00 X 147727 0 39727 JED W WARTMAN DEAN OF STUDENTS 50.00 X 128139 0 38050 THOMAS S WOODRUFF DIRECTOR OF BUILDING & GRO 50.00 X 125689 0 34737 THOMAS JAMES TRAFTON DIRECTOR OF MAJOR GIFTS 50.00 X 138575 0 9240 1395330 0 263443 23 0 1 0 REDCO CONSTRUCTION INC 251 HIGH RD NEWBURY MA 01951 CONSTRUCTION 559300 COMPASS FACILITY SERVICES 65 JACKSON ST GEORGETOWN MA 01833 CLEANING COMPANY 506184 CIC HEALTH LLC ONE BROADWAY CAMBRIDGE MA 02142 COVID TESTING COMPANY 385092 WS AIKEN LLC 224 CRESCENT AVE CHELSEA MA 02150 CONSTRUCTION 291105 US SECURITY ASSOCIATES INC P O BOX 828854 PHILADELPHIA PA 191828854 CAMPUS SECURITY COMPANY 181522 12 34202 6051505 368084 6085707 TUITION 611600 24699760 24699760 SUMMER PROGRAMS 713990 603276 590295 12981 STUDENT FEE INCOME 611710 379164 379164 25682200 40923 40923 307744 307744 199853 0 199853 199853 199853 21393092 172388 8807986 0 12585106 172388 12757494 171883 12585611 0 34202 0 0 255255 184727 70528 70528 MISCELLANEOUS 900099 97361 97361 MAINTENANCE 900099 22019 22019 119380 45263829 25859127 184864 13134131 5550635 5550635 697353 348677 174338 174338 12161950 9047785 1684191 1429974 4314921 1767997 2320887 226037 969201 542310 364328 62563 1004185 593447 285330 125408 90532 34500 18677 37355 185032 29320 56292 99420 484422 176336 215643 92443 3010213 2828760 151211 30242 85791 26266 49263 10262 85713 22665 31046 32002 709146 709146 2427905 2282231 121395 24279 350500 350500 COST OF GOODS SOLD 614889 614889 MISCELLANEOUS EXPENSE 342349 159781 140928 41640 SUPPLIES 329573 329573 VEHICLE EXPENSE 259666 259666 985523 488480 242651 254392 34659499 25812464 6206680 2640355 48676 50436 9161214 11053835 9860357 8275629 83402 70189 25000 22917 95299 93195 988830 914410 107816055 40402479 66956255 67413576 1539574 1387975 86615188 73936494 0 53084 175373795 163271740 1643038 1499169 6458607 7071141 21647359 20942710 2886787 132123 32635791 29645143 X 87104461 82109569 55633543 51517028 142738004 133626597 175373795 163271740 10604330 -19715737 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 88154762 1478918 -10008219 4300992 75324469 66715583 3436403 22290747 4287971 88154762 69073621 1362034 710151 4430223 66715583 70110540 1169526 3144157 5350602 69073621 67078647 1399815 6034136 4402058 70110540 0.55000 0.45000 0 0 85250592 30408345 54842247 10468504 7274186 3194318 12096959 2719948 9377011 67413576 LIMITED PARTNERSHIPS 17984774 F BENEFICIAL INTEREST IN PHILLIPS TRUSTS 8192953 F CHARITABLE GIFT ANNUITIES 394905 F ALTERNATIVE INVESTMENTS 47363862 C 73936494 ANNUITIES PAYABLE 99982 CAPITAL LEASE OBLIGATIONS 32141 132123 X 19622689 -19715737 184727 -19531010 39153699 559495 5550635 6110130 45263829 28734096 184727 184727 28549369 559495 5550635 6110130 34659499 PART III, LINE 4: VARIOUS PAINTINGS THAT ARE DISPLAYED IN THE LIBRARY WHICH WERE DONATED TO THE SCHOOL. PART V, LINE 4: THE ACADEMY'S ENDOWMENT FUNDS ARE USED TO SUPPORT MULTIPLE AREAS INCLUDING THE GENERAL OPERATIONS OF THE ACADEMY. THE ENDOWMENT HELPS SUPPORT FINANCIAL AID, FACULTY SALARIES AND BENEFITS, COMMENCEMENT PRIZES, PHYSICAL PLANT AND OTHER EXPENDITURES. TEMPORARY RESTRICTED GIFTS CAN HELP SUPPORT UNIFORMS, MUSICAL INSTRUMENTS, PROFESSIONAL DEVELOPMENT AND VISITING SPEAKERS, FINANCIAL AID FOR SPECIFIC NEEDS, AND BOOKS. PART X, LINE 2: THE ACADEMY IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "CODE") AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE ACADEMY IS SUBJECT TO FEDERAL AND STATE INCOME TAXES ON UNRELATED BUSINESS INCOME, IF ANY. THE ACADEMY ACCOUNTS FOR UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH FASB ASC TOPIC INCOME TAXES. THE TOPIC PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PROCESS FOR FINANCIAL STATEMENT RECOGNITION OF UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE TOPIC ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. THE ACADEMY FILES INFORMATIONAL TAX RETURNS IN THE US FEDERAL AND MASSACHUSETTS STATE JURISDICTIONS. MANAGEMENT BELIEVES THAT THE ACADEMY HAS NO MATERIAL UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD APPLIED AGAINST INCOME 184,727. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 5,550,635. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES INCLUDED IN INCOME COST OF GOODS SOLD APPLIED AGAINST INCOME 184,727. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 5,550,635. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 GOVERNOR DUMMER ACADEMY PUBLICIZES ITS NONDISCRIMINATORY POLICY ON A SCHOOL BULLETIN AND IN BROCHURES. REUNION WEEKEND 34202 34202 34202 34202 1 FINANCIAL AID 140 5550635 FMV SCHOLARSHIPS/FINANCIAL AID PART I, LINE 2: FINANCIAL AID IS ALLOCATED ON A NEED BASED BASIS AT THE GOVERNOR'S ACADEMY. FOR NEW APPLICANTS TO THE SCHOOL, WE REQUIRE FAMILIES TO SUBMIT INCOME AND ASSET INFORMATION TO SSS, A FINANCIAL AID ASSESSMENT ORGANIZATION THAT OPERATES WITHIN NAIS. SSS PROVIDES FOR US A RECOMMENDED FAMILY CONTRIBUTION (RFC) AND, TO OUR ABILITY AND AFTER OUR EVALUATION OF A FAMILY'S SUBMISSION, WE WILL PROVIDE FINANCIAL AID TO A FAMILY THAT REPRESENTS THE DIFFERENCE BETWEEN THE RFC AND THE COST OF TUITION. WITH RESPECT TO MONITORING THE STUDENTS OVER TIME, FAMILIES MUST SUBMIT A FINANCIAL AID APPLICATION EACH YEAR AND THE RFC IS USED TO DETERMINE A FINANCIAL AID ALLOCATION EACH YEAR. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 PETER QUIMBY HEAD OF SCHOOL 385387 0 0 0 0 0 31900 0 31552 0 448839 0 0 0 LESLIE LDICKEY DIRECTOR OF ADVANCEMENT 217947 0 0 0 0 0 13633 0 27389 0 258969 0 0 0 MICHAEL KINNEALEY ASSISTANT HEAD OF SCHOOL 147727 0 0 0 0 0 17429 0 22298 0 187454 0 0 0 JED W WARTMAN DEAN OF STUDENTS 128139 0 0 0 0 0 11260 0 26790 0 166189 0 0 0 THOMAS S WOODRUFF DIRECTOR OF BUILDING & GRO 125689 0 0 0 0 0 10780 0 23957 0 160426 0 0 0 CHRISTOPHER WEJCHERT OUTGOING - CFO 132543 0 0 0 0 0 14575 0 5084 0 152202 0 0 0 PART I, LINE 1A FORM 990, SCHEDULE J, LINE 1 TRAVEL FOR COMPANIONS FROM TIME TO TIME THE HEAD OF SCHOOL'S SPOUSE MAY TRAVEL WITH HIM FOR ACADEMY BUSINESS. IN SUCH INSTANCES THE ACADEMY BEARS THE COST OF THE TRIP AND IT IS CONSIDERED NON-TAXABLE TO THE HEAD OF SCHOOL AND REPORTED ON SCHEDULE J, PART II, COLUMN D. DISCRETIONARY SPENDING ACCOUNT THE HEAD OF SCHOOL IS GIVEN A MINIMAL DISCRETIONARY BUDGET. THIS PROVIDES THE HEAD OF SCHOOL FLEXIBILITY TO SUPPORT FACULTY, STAFF, STUDENTS OR BOARD MEMBERS WHO CREATE THE SCHOOL COMMUNITY. SOME EXAMPLES WOULD BE ADDITIONAL FACULTY PROFESSIONAL DEVELOPMENT, STUDENT EVENTS SUCH AS SENIOR SKIP DAY, FLORAL ARRANGEMENTS FOR GET WELL, SYMPATHY OR CONGRATULATIONS. ALL PURCHASES ARE SCHOOL RELATED AND NOT DIRECTLY ASSOCIATED WITH SUPPORTING THE HEAD OF SCHOOL. THE VALUE OF THE DISCRETIONARY SPENDING ACCOUNT IS REPORTED AS NON-TAXABLE COMPENSATION ON SCHEDULE J, PART II. COLUMN D. HOUSING A BOARDING SCHOOLS REQUIRES ROUND THE CLOCK SAFETY AND SUPPORT OF OUR BOARDING AND DAY STUDENTS. TO PROVIDE DEDICATED ATTENTION, CLASSROOM TEACHING, AFTERNOON PROGRAMS AND DORM PARENTING SEVEN DAYS A WEEK FACULTY ARE EXPECTED TO LIVE ON CAMPUS. THE SCHOOL PROVIDES HOUSING TO THREE OFFICERS LISTED ON THE FORM 990. THE VALUE OF THE HOUSING PROVIDED IS REPORTED AS NON-TAXABLE COMPENSATION ON SCHEDULE J, PART II. COLUMN D. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2019-03-13 23353177 PROVIDE FUNDS TO REFUND A PRIOR ISSUES (SERIES 1996 BONDS AND 2006 BONDS) 0 1 0 A 723927 23353177 328526 23024651 2019 1 1 1 1 A 0 0 0 0 1 0 1 A 0 1 0 0 0 1 THE TORONTO-DOMINION 20.000000000000 0 0 0 0 1 A 1 PETER QUIMBY HEAD OF SCHOOL FACULTY HOUSING LOAN X 125000 22917 0 1 1 22917 X 8 368084 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B AFTER BEING DRAFTED BY THE TAX PREPARERS AND REVIEWED BY THE DIRECTOR OF FINANCE AND THE CHIEF FINANCIAL OFFICER, A VERSION OF THE FORM 990 IS SENT TO THE AUDIT COMMITTEE, INCLUDING THE TREASURER, FOR REVIEW BY THE COMMITTEE. ANY QUESTIONS RAISED BY COMMITTEE MEMBERS ARE BROUGHT BACK TO THE CFO AND THE TAX PREPARERS. ONCE QUESTIONS HAVE BEEN ANSWERED AND ANY NEEDED CHANGES MADE, A FINAL VERSION OF THE FORM 990 IS PROVIDED TO THE BOARD OF TRUSTEES BEFORE THE FILING DATE. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS ISSUED ONCE A YEAR WITH AN ACKNOWLEDGEMENT TO BE SIGNED ASSURING THAT THE READER IS AWARE AND WILL COMPLY. ONCE THE ACKNOWLEDGEMENT IS SIGNED IT IS FILED IN THE CFO'S OFFICE. FORM 990, PART VI, SECTION B, LINE 15 THE HEAD OF SCHOOL'S COMPENSATION IS REVIEWED BY THE PRESIDENT OF THE BOARD AND THE OFFICERS OF THE ACADEMY, WITH SUPPORT FROM THE CFO'S OFFICE WHICH PROVIDES RELEVANT AND COMPARABLE SALARY DATA FOR THIS POSITION. THE CFO'S SALARY IS SET BY THE HEAD OF SCHOOL. THE HEAD OF SCHOOL AND THE CFO WORK TOGETHER IN SETTING THE FACULTY AND STAFF SALARY POOL, INCLUDING ANTICIPATED TURNOVER AND A BUDGET FOR REPLACEMENT PERSONNEL. ALL SALARY RECOMMENDATIONS ARE THEN INCORPORATED INTO THE DRAFT FISCAL YEAR BUDGET WHICH IS PRESENTED TO THE FINANCE COMMITTEE FOR REVIEW AND APPROVAL. THE FULL BOARD THEN APPROVES THE BUDGET FOR IMPLEMENTATION. THE ORGANIZATION BENCHMARKS AND ANALYZES SALARIES AGAINST DATA FROM NATIONAL AND REGIONAL SCHOOL ASSOCIATIONS. FORM 990, PART VI, SECTION C, LINE 18 THE FORM 990 IS AVAILABLE VIA A WRITTEN OR TELEPHONE REQUEST TO THE ORGANIZATION. 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.