2023-05-13T11:33:25-05:00 2022-06-30 042943536 TONNESON & COMPANY PC 401 EDGEWATER PLACE SUITE 300 WAKEFIELD MA 018806208 990 2021-07-01 042104824 PARK SCHOOL CORPORATION PARK 6172772456 171 GODDARD AVENUE BROOKLINE MA 02445 SARA FLEISS TREASURER 6172772456 2023-05-10 1 SARA FLEISS 999009999 JODY K BOOTH P00963825 7812459999 2023-05-10 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z SARA FLEISS 171 GODDARD AVENUE BROOKLINE MA 02445 35437784 0 X WWW.PARKSCHOOL.ORG X 1923 MA REFER TO SCHEDULE O, PAGE 67THE PARK SCHOOL IS DEDICATED TO EXCELLENCE IN EDUCATION.THE CORNERSTONE OF PARK'S PROGRAM IS ACADEMIC EXCELLENCE COMBINING BOTH HIGH STANDARDS OF SCHOLARSHIP AND THE ENCOURAGEMENT OF EACH CHILD TO DEVELOP TO HIS OR HER GREATEST POTENTIAL. OUR SCHOOL COMMUNITY FOSTERS A NURTURING ENVIRONMENT IN WHICH CHILDREN DEVELOP CURIOSITY, EXPRESS CREATIVITY, APPRECIATE THE VALUE OF HARD WORK AND DISCIPLINE, AND EXPERIENCE THE JOY OF LEARNING. PARK'S FACULTY ENCOURAGES EACH STUDENT TO STRIVE FOR INTELLECTUAL, PHYSICAL AND MORAL GROWTH, AND TO BECOME CONTRIBUTING MEMBERS OF THE COMMUNITY.PARK IS COMMITTED TO BEING A METROPOLITAN, COEDUCATIONAL, DAY SCHOOL OF DIVERSE RACES, RELIGIONS, CULTURES, AND BACKGROUNDS. CENTRAL TO ITS MISSION IS AN APPRECIATION OF SIMILARITIES AND DIFFERENCES OF PERSPECTIVE AND THE INTERDEPENDENCE OF ALL PEOPLE. AS A FAMILY SCHOOL, PARK IS A COMMUNITY IN WHICH THE DIGNITY OF EACH CHILD, TEACHER, AND PARENT IS RESPECTED. 23 23 329 150 456133 418642 10273259 7881527 23119417 26666974 277080 5066 236562 823428 33906318 35376995 3979808 4607588 0 0 17205377 19223495 0 0 1030983 8349087 10894712 29534272 34725795 4372046 651200 111847022 111523065 26174665 31360346 85672357 80162719 REFER TO SCHEDULE O, PAGE 67 0 0 23482964 4212320 24327600 PARK SCHOOL PROVIDES AN EXCEPTIONAL INDEPENDENT EDUCATION TO 550 BOYS AND GIRLS ENROLLED FROM PRE-KINDERGARTEN THROUGH EIGHTH GRADE. 2202843 395268 2339374 SUMMER AND AFTER-SCHOOL PROGRAMS - CREATIVE ARTS AT PARK IS A 5 WEEK CAMP WHERE CHILDREN AGES 7 TO 15 CAN EXPLORE THE FULL RANGE OF VISUAL AND PERFORMING ARTS. SUMMER AT PARK IS AN ACA-ACCREDITED CAMP FOR CHILDREN AGES 4 TO 15. CAMPERS CAN PARTICIPATE IN A WIDE VARIETY OF PROGRAMS OF VARYING DURATION THROUGHOUT THE SUMMER. AFTER-SCHOOL PROGRAMS PROVIDE ENRICHING, EXTENDED SCHOOL HOURS FOR THOSE CHILDEN WHO ENROLL. 701171 701171 25685807 1 1 0 0 0 0 1 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 0 0 0 0 1 0 0 0 0 0 0 0 0 1 51 0 1 329 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 23 23 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X X KIMBERLY BOYD 6172772456 171 GODDARD AVENUE BROOKLINE MA 02445 JOSEPH ROBBINS CHAIR 5.00 X X 0 0 0 NEELA PAL VICE CHAIR 5.00 X X 0 0 0 PETER BARKAN SECRETARY 5.00 X X 0 0 0 NEERAJ AGRAWAL TRUSTEE 3.50 X 0 0 0 RAHULL BALLAL TRUSTEE 3.50 X 0 0 0 KATHRENE BELL TRUSTEE 3.50 X 0 0 0 NICOLE DANFORTH TRUSTEE 3.50 X 0 0 0 MARK DOLINS TRUSTEE 3.50 X 0 0 0 SARA FLEISS TREASURER 3.50 X X 0 0 0 KEN FRIEZE TRUSTEE 3.50 X 0 0 0 ABIGAIL GOODMAN TRUSTEE 3.50 X 0 0 0 MAY HARA TRUSTEE 3.50 X 0 0 0 ELIZA HOOVER TRUSTEE 3.50 X 0 0 0 JULIA JOHANNSEN TRUSTEE 3.50 X 0 0 0 IDRIS RAHIM TRUSTEE 3.50 X 0 0 0 LISE CHARLIER TRUSTEE 3.50 X 0 0 0 LESLEY RYAN MILLER TRUSTEE 3.50 X 0 0 0 REBECCA NORDHAUS TRUSTEE 3.50 X 0 0 0 TED NOON TRUSTEE 3.50 X 0 0 0 YOUNG JU RHEE TRUSTEE 3.50 X 0 0 0 FEMI OBI TRUSTEE 3.50 X 0 0 0 STEVE SAMUELS TRUSTEE 3.50 X 0 0 0 ANNA SINAIKO TRUSTEE 3.50 X 0 0 0 FOLASHADE SOLOMON TRUSTEE 3.50 X 0 0 0 CHRISTINA VEST TRUSTEE 3.50 X 0 0 0 GREG WOODS TRUSTEE 3.50 X 0 0 0 SCOTT YOUNG HEAD OF SCHOOL 40.00 X 452620 0 69111 ERIC CHAPMAN ASSISTANT HEAD OF SCHOOL F 40.00 X 200024 0 13119 KIMBERLY BOYD ASST HEAD FOR FINANCE 40.00 X 212487 0 35530 BEATRIX SANDERS DIRECTOR OF DEVELOPMENT 40.00 X 270584 0 41846 CAROLE CARTER DIRECTOR OF TECHNOLOGY 40.00 X 166728 0 12417 PAMELA PENNA DIRECTOR OF INSTITUTIONAL PRACTICE 40.00 X 162687 0 32638 MERLE JACOBS DIRECTOR OF ADMISSIONS 40.00 X 151913 0 19146 KENNETH ROGERS UPPER DIVISION HEAD 40.00 X 143801 0 35063 1760844 0 258870 8 0 1 0 J CALNAN & ASSOCIATES INC 3 BATTERYMARCH PARK QUINCY MA 02169 CONSTRUCTION & RENOVATIONS CONTRACTOR 5337224 FLIK PO BOX 417632 BOSTON MA 022417632 SCHOOL DINING 908006 LOCAL MOTION 66B ROCSAM PARK ROAD BRAINTREE MA 02184 STUDENT TRANSPORTATION SERVICES 513532 UTILE INC 115 KINGSTON ST BOSTON MA 02111 CONSTRUCTION CONTRACTOR 369281 OUNCE IT LLC PO BOX 3137 WORCESTER MA 01613 TECHNOLOGY SERVICES PROVIDER 293435 16 7881527 335375 7881527 TUITION 611600 24327600 24327600 AFTER SCHOOL AND SUMMER PROGRAMS 611600 2339374 2339374 26666974 5066 5066 183046 60789 122257 122257 122257 456133 -456133 MISCELLANEOUS REVENUE 900099 701171 701171 701171 35376995 27368145 456133 -328810 4607588 4607588 1066055 1066055 14202854 10703883 3103918 395053 667144 460002 191094 16048 2263274 1500083 701291 61900 1024168 867760 128702 27706 74007 74007 54725 54725 449579 449579 223832 43019 180813 161813 16794 106903 38116 2746464 1564606 951301 230557 239334 209508 29826 579099 538844 25158 15097 507280 506063 1217 173376 160556 12820 721278 721278 2154046 1981723 107702 64621 113894 98429 9666 5799 FOOD SERVICE 1137969 928399 102302 107268 REPAIRS AND MAINTENANCE 1048790 965075 52322 31393 MISCELLANEOUS EXPENSES 437778 433491 4287 DUES AND SUBSCRIPTIONS 55710 5967 47648 2095 15738 15738 34725795 25685807 8009005 1030983 11254997 9807517 4866564 7539805 432081 470855 1613512 2141062 69369217 32170297 30164545 37198920 3375086 3215820 60140237 51149086 111847022 111523065 2889304 5475965 6812264 6753098 16399568 15575727 73529 3555556 26174665 31360346 X 62151926 56216300 23520431 23946419 85672357 80162719 111847022 111523065 651200 -6160838 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 3 11.56 0 1 0 80.00 5000 0 63017797 32886 -6601678 2540000 53909005 51500537 235488 15081772 3800000 63017797 54826479 65093 -759035 2632000 51500537 53757182 614480 2728817 2274000 54826479 51057981 784306 4109895 2195000 53757182 0.70240 0.29760 0.00000 1 0 6774254 6774254 49261755 24195474 25066281 6950596 6002702 947894 6382612 1972121 4410491 37198920 ALTERNATIVE INVESTMENTS 51149086 F 51149086 X 26759779 -6160838 2600789 -3560049 30319828 449579 4607588 5057167 35376995 32269417 2600789 2600789 29668628 449579 4607588 5057167 34725795 PART II, LINE 9: CONSERVATION EASEMENTS ARE INCLUDED IN PROPERTY AND EQUIPMENT ON THE SCHOOL'S JUNE 30, 2022 STATEMENT OF FINANCIAL POSITION. THERE WERE NO NEW CONSERVATION EASEMENTS DURING THE FISCAL YEAR ENDING JUNE 30, 2022. PART V, LINE 4: THE SCHOOL'S PRIMARY OBJECTIVE IS LONG-TERM CAPITAL APPRECIATION WHICH TOGETHER WITH INCOME WILL PROVIDE FOR THE GROWTH OF THE ENDOWMENT WHILE ALLOWING SUPPORT FOR CURRENT ACTIVITIES. THE SCHOOL HAS ADOPTED A SPENDING POLICY WHEREBY A PERCENTAGE OF THE HISTORICAL AVERAGE MARKET VALUE OF THE ENDOWMENT FOR PROGRAM SERVICES AND CAPITAL NEEDS IS DISTRIBUTED AND TREATED AS SUPPORT FOR OPERATING ACTIVITIES. TO THE EXTENT THE TOTAL RETURN REQUIREMENT FOR THE CURRENT YEAR IS NOT FULFILLED BY INTEREST AND DIVIDENDS, THE SCHOOL UTILIZES REALIZED GAINS OF ITS ENDOWMENT. TO THE EXTENT THE TOTAL RETURN REQUIREMENT FOR THE CURRENT YEAR IS EXCEEDED BY INTEREST AND DIVIDENDS, THE SCHOOL ADDS THE EXCESS INCOME TO ITS ENDOWMENT. PART X, LINE 2: IN DETERMINING THE RECOGNITION OF UNCERTAIN TAX POSITIONS, THE SCHOOL APPLIES A MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD AND DETERMINES THE MEASUREMENT OF UNCERTAIN TAX POSITIONS CONSIDERING THE AMOUNTS AND PROBABILITIES OF THE OUTCOMES THAT COULD BE REALIZED UPON ULTIMATE SETTLEMENT WITH TAXING AUTHORITIES. AS OF JUNE 30, 2022, THE SCHOOL HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 60,789. APPROPRIATION OF INVESTMENT INCOME(EXPENSE) 2,540,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID - TUITION 4,212,320. FINANCIAL AID - AFTER SCHOOL AND SUMMER PROGRAMS 395,268. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 60,789. APPROPRIATION OF INVESTMENT INCOME(EXPENSE) 2,540,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID - TUITION 4,212,320. FINANCIAL AID - AFTER SCHOOL AND SUMMER PROGRAMS 395,268. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL POSTS ITS NON-DISCRIMINATION POLICY ON THE HOMEPAGE OF THE SCHOOL'S WEBSITE. THE NON-DISCRIMINATION POLICY IS ALSO POSTED ON THE DIVERSITY, EQUITY AND INCLUSION PAGE AND THE CAREERS PAGE OF THE SCHOOL'S WEBSITE. 1 FINANCIAL AID 328 4607588 PART I, LINE 2: FINANCIAL AID IS AWARDED TO FAMILIES BY COMMITTEE, INCLUSIVE OF THE HEAD OF SCHOOL, ASSISTANT HEAD OF SCHOOL FOR FINANCE & OPERATIONS, DIRECTOR AND ASSOCIATE DIRECTOR OF ADMISSION, CONTROLLER, ASSISTANT BUSINESS MANAGER, AND BOOKKEEPER. THE COMMITTEE'S DECISION IS LARGELY BASED UPON THE CALCULATION BY AN ORGANIZATION, SCHOOL AND STUDENT SERVICES, WHICH IS OWNED BY THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS. ONCE THE COMMITTEE AWARDS A GRANT TO A FAMILY, A LETTER IS WRITTEN TO EACH FAMILY INDICATING THE AWARD AND A CONTRACT IS MAILED HOME FOR THE AMOUNT OF TUITION DUE FOR THE YEAR. THESE CONTRACTS ARE MAINTAINED IN A LOCKED CABINET IN THE SCHOOL'S BUSINESS OFFICE. X 1 0 X X X X 0 0 0 0 0 0 0 0 0 SCOTT YOUNG HEAD OF SCHOOL 452620 0 0 0 0 0 19500 0 49611 0 521731 0 0 0 BEATRIX SANDERS DIRECTOR OF DEVELOPMENT 270584 0 0 0 0 0 0 0 41846 0 312430 0 0 0 KIMBERLY BOYD ASST HEAD FOR FINANCE 212487 0 0 0 0 0 18000 0 17530 0 248017 0 0 0 ERIC CHAPMAN ASSISTANT HEAD OF SCHOOL F 200024 0 0 0 0 0 0 0 13119 0 213143 0 0 0 PAMELA PENNA DIRECTOR OF INSTITUTIONAL PRACTICE 162687 0 0 0 0 0 0 0 32638 0 195325 0 0 0 CAROLE CARTER DIRECTOR OF TECHNOLOGY 166728 0 0 0 0 0 0 0 12417 0 179145 0 0 0 KENNETH ROGERS UPPER DIVISION HEAD 143801 0 0 0 0 0 0 0 35063 0 178864 0 0 0 MERLE JACOBS DIRECTOR OF ADMISSIONS 151913 0 0 0 0 0 0 0 19146 0 171059 0 0 0 SCHEDULE J - PART I TYPE OF BENEFITS: HOUSING NUMBER OF PERSONS LISTED WHO RECEIEVED THE BENEFITS: 1 TAXABILITY OF BENEFITS: NON-TAXABLE A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57583RKA2 2007-02-21 9435000 FINANCE CONSTRUCTION COSTS 0 0 0 B MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57583UPU6 2012-04-01 14025000 REFINANCE 0 0 0 A 3115584 9253762 249549 9004213 0 0 1 1 B 4738559 14335621 225718 14109903 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 1 0 0 0 0 0 B 1 0 0 0 0 0 A 0 B 0 X 16 335375 MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 7A ALL PARENTS OF CHILDREN IN ATTENDANCE AT THE PARK SCHOOL ARE MEMBERS OF THE CORPORATION DURING SUCH PERIOD OF ATTENDANCE. ADDITIONALLY, INDIVIDUALS WITH LONG-STANDING CONNECTION TO THE SCHOOL MAY BE INVITED TO BE MEMBERS OF THE CORPORATION BY THE HEAD OF SCHOOL. FORM 990, PART VI, SECTION B, LINE 11B THE SCHOOL'S TREASURER AND ASSISTANT HEAD FOR FINANCE & OPERATIONS ARE RESPONSIBLE FOR OVERSEEING THE PREPARATION OF IRS FORM 990 (990). THE 990 AND ITS SUPPORTING SCHEDULES WERE PREPARED BY THE PUBLIC ACCOUNTING FIRM, TONNESON & COMPANY, PC (TONNESON), RESPONSIBLE FOR AUDITING THE SCHOOL'S FINANCIAL STATEMENTS. TONNESON'S WORK WAS BASED ON INFORMATION PROVIDED TO THEM DURING THE COURSE OF THE AUDIT BY THE SCHOOL'S BUSINESS OFFICE, PLUS ADDITIONAL WORK REQUESTED SPECIFIC TO THE 990. THE CHAIR OF THE BOARD, TREASURER, AUDIT COMMITTEE CHAIR, HEAD OF SCHOOL AND ASSISTANT HEAD FOR FINANCE & OPERATIONS PERFORMED A DETAILED REVIEW OF THE COMPLETED 990, PROVIDED A COPY OF THE RETURN TO THE BOARD OF TRUSTEES AND REPORTED UPON THE RESULTS OF ITS REVIEW TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE BOARD OF TRUSTEES IS REQUIRED TO DISCLOSE AT THE FIRST BOARD MEETING OF EACH YEAR ANY EXISTING OR POTENTIAL CONFLICT OF INTEREST. THE BOARD OF TRUSTEES MAY ALSO PROVIDE FOR SUCH CORRECTIVE ACTION AS IT DEEMS APPROPRIATE BY REASON OF A FAILURE TO DISCLOSE SUCH CONFLICT OF INTEREST, WHICH MAY INCLUDE REMOVAL FROM A POSITION OR OFFICE. DISCLOSURE FORMS SHALL BE UPDATED ANNUALLY OR SOONER IF CHANGED CIRCUMSTANCES REQUIRE DISCLOSURE. ALL PERSONS SUBJECT TO THIS POLICY ARE EXPECTED TO UPDATE THEIR "ANNUAL STATEMENT REGARDING CONFLICT OF INTEREST" AT ANY TIME DURING THE YEAR THAT THE INFORMATION REQUESTED ON THE FORM CHANGES. THE ADMINISTRATION AND MAINTENANCE OF THE "ANNUAL STATEMENT REGARDING CONFLICT OF INTEREST" SHALL BE THE RESPONSIBILITY OF THE CHAIR OF THE BOARD OF TRUSTEES, OR HIS/HER DESIGNEE. FORM 990, PART VI, SECTION B, LINE 15A THE COMMITTEE OF TRUSTEES INITIALLY DETERMINES COMPENSATION FOR THE HEAD OF SCHOOL. PROPOSED COMPENSATION IS THEN REVIEWED AND APPROVED BY THE ENTIRE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND FORM 990 ARE IMMEDIATELY MADE AVAILABLE TO THE PUBLIC BY CALLING THE SCHOOL'S OFFICE, WALKING INTO THE SCHOOL'S OFFICE OR MAILING IN A REQUEST TO THE SCHOOL. THE FORM 990 AND FINANCIAL STATEMENTS ARE ALSO AVAILABLE THROUGH THE MASSACHUSETTS ATTORNEY GENERAL'S OFFICE/WEBSITE. ADDITIONALLY, THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC ON THE ELECTRONIC MUNICIPAL MARKET ACCESS WEBSITE.