2025-05-14T14:35:48-05:00 2024-06-30 872525370 CITRIN COOPERMAN ADVISORS LLC 30 BRAINTREE HL OFFICE PARK STE 300 BRAINTREE MA 02184 990 2023-07-01 042103564 GOVERNOR DUMMER ACADEMY THE GOVERNOR'S ACADEMY GOVE 9784651763 1 ELM STREET BYFIELD MA 01922 JONATHAN DOUGLAS CHIEF FINANCIAL OFFICER 9784993134 2025-05-08 1 0 AMANDA ADAMS P00748038 7813562000 2025-05-08 2023 2025-03-06 01:10:19Z JONATHAN DOUGLAS 1 ELM STREET BYFIELD MA 01922 56024637 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. 24 24 307 500 67825 56446 11603036 10329749 26746164 28551840 15587474 16527036 412469 344120 54349143 55752745 5748750 6627896 0 0 18974451 20827224 0 0 2863696 12380078 13542867 37103279 40997987 17245864 14754758 172442826 180516909 30120060 28308001 142322766 152208908 TOGETHER, WE TEACH AND LEARN SKILLS THAT FOSTER THE COURAGE TO DISCOVER OUR VOICES, DEVELOP OLD AND NEW PASSIONS, PRACTICE BALANCE IN THE PURSUIT OF EXCELLENCE, AND COLLABORATE IN BUILDING VIBRANT,INCLUSIVE, AND SUSTAINABLE COMMUNITIES. 0 0 29890613 6627896 28629129 THE GOVERNOR'S ACADEMY OPERATES AN INDEPENDENT SECONDARY BOARDING AND DAY SCHOOL ENROLLING OVER 400 DOMESTIC AND INTERNATIONAL STUDENTS. THE ACADEMY COMBINES CENTURIES OF TRADITION WITH A DEDICATION TO EDUCATIONAL INNOVATION. STUDENTS FLOURISH IN A DIVERSE COMMUNITY DISTINGUISHED BY CONNECTIONS WITH TEACHERS AND PEERS AND DEFINED BY A COMMITMENT TO ACHIEVING EXCELLENCE IN ACADEMICS, ATHLETICS, AND ARTS. ACADEMY GRADUATES ARE LIFE-LONG LEARNERS WHO EMBRACE THEIR CIVIC DUTY AND GLOBAL RESPONSIBILITY. 29890613 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 1 0 1 0 1 0 0 0 0 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 1 100 0 1 307 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X JONATHAN DOUGLAS 9784651763 1 ELM STREET BYFIELD MA 01922 JAMES M PIERCE PRESIDENT (PART-YEAR) 5.00 X X 0 0 0 PAUL NARDONE PRESIDENT (PART-YEAR) 5.00 X X 0 0 0 LUCY HENKES VICE-PRESIDENT 5.00 X X 0 0 0 ARCHIE SEALE VICE-PRESIDENT 5.00 X X 0 0 0 STEVEN G SHAPIRO TREASURER 5.00 X X 0 0 0 ELIZABETH FARRELL SECRETARY 5.00 X X 0 0 0 THOMAS M MERCER JR TRUSTEE 5.00 X 0 0 0 COLIN CROSS TRUSTEE 5.00 X 0 0 0 MICHELE LAWLOR TRUSTEE 5.00 X 0 0 0 STEPHANIE GINSBERG TRUSTEE 5.00 X 0 0 0 CHANDLER EVANS TRUSTEE 5.00 X 0 0 0 JAMES L RUDOLPH TRUSTEE 5.00 X 0 0 0 PHILLIP S GILLESPIE TRUSTEE 5.00 X 0 0 0 BILL ALFOND TRUSTEE 5.00 X 0 0 0 JONATHAN J DOYLE TRUSTEE 5.00 X 0 0 0 ROBERT C DELENA TRUSTEE 5.00 X 0 0 0 STEPHEN G KASNET TRUSTEE 5.00 X 0 0 0 FRANK COUSINS JR TRUSTEE 5.00 X 0 0 0 WILLIAM BRINE III TRUSTEE 5.00 X 0 0 0 AJ ENCHILL ALUMNI TRUSTEE 5.00 X 0 0 0 MOON-SUN CHUNG TRUSTEE 5.00 X 0 0 0 KAREN MCALMON TRUSTEE 5.00 X 0 0 0 SPENCER L PURINTON TRUSTEE 5.00 X 0 0 0 CHRISTINA GENTILE TRUSTEE 5.00 X 0 0 0 MOLLY SCHARFE PRINN TRUSTEE 5.00 X 0 0 0 EVAN M TRENT TRUSTEE 5.00 X 0 0 0 LESLIE L LACY TRUSTEE 5.00 X 0 0 0 SAUNDRA E WATSON ALUMNI COUNCIL PRESIDENT 5.00 X 0 0 0 CYNTHIA ROSE SCANNELL CFO 50.00 X 254834 0 111774 PETER QUIMBY HEAD OF SCHOOL 50.00 X 462181 0 112854 SARAH POWERS DEAN OF ENROLLMENT 50.00 X 157804 0 50207 LESLIE L DICKEY DIRECTOR OF ADVANCEMENT 50.00 X 230428 0 53428 LYNDA FITZGERALD DEAN OF FACULTY 50.00 X 154655 0 31081 MICHAEL KINNEALEY ASSISTANT HEAD OF SCHOOL 50.00 X 179041 0 57913 THOMAS JAMES TRAFTON DIRECTOR OF MAJOR GIFTS 50.00 X 146969 0 14012 1585912 0 431269 27 0 1 0 CONSIGLI CONSTRUCTION CO INC 72 SUMNER STREET MILFORD MA 01757 CONSTRUCTION 4857586 COMPASS FACILITY SERVICES 65 JACKMAN STREET GEORGETOWN MA 01833 CLEANING COMPANY 487821 US FOODSERVICE PO BOX 3155 BOSTON MA 022413155 FOOD SERVICE 394456 NORTHCENTER FOODS PO BOX 2628 AUGUSTA ME 043302628 FOOD SERVICE 365583 AQUATIC ENVIRONMENTS INC 150-D NEW BOSTON ST WOBURN MA 01801 CONSULT, DESIGN, INSTALLATION & MAINT OF 336385 17 802837 9526912 143904 10329749 TUITION 611600 27384100 27384100 SUMMER PROGRAMS 713990 732211 732211 STUDENT FEE INCOME 611710 406987 406987 REUNION WEEKEND/EVENTS 713990 28542 28542 28551840 877731 67825 809906 235105 0 235105 235105 235105 15639678 75000 0 65373 15639678 9627 15649305 15649305 283808 206519 77289 77289 INSURANCE REFUND 900099 7839 7839 23887 23887 31726 55752745 28629129 67825 16726042 6627896 6627896 853457 608043 149353 96061 13797771 10261981 1860455 1675335 1214915 743642 435675 35598 3869671 1523777 2060371 285523 1091410 610465 450802 30143 152441 152441 545160 545160 691903 129844 279931 282128 251006 251006 382427 214650 137246 30531 397042 348260 48782 3666423 3446438 183321 36664 335798 245594 90204 228238 60801 165783 1654 639465 639465 3054495 2871225 152725 30545 438948 438948 FOOD 776311 743973 30860 1478 STUDENT ACTIVITIES 563643 563643 DUES & SUBSCRIPTIONS 123230 41912 71996 9322 1296337 557264 529345 209728 40997987 29890613 8243678 2863696 55038 54888 10310897 5033585 2617743 3067093 51017 42275 62500 56250 153395 182888 107935 100128 542506 710403 121175202 46170738 74174082 75004464 7937213 21556712 65189551 62177268 11240949 12530955 172442826 180516909 2535242 1792201 7213729 6927924 20208883 19445003 21428 10714 140778 132159 30120060 28308001 X 85667733 96043400 56655033 56165508 142322766 152208908 172442826 180516909 X 14754758 -6175698 1307082 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 40000 75000 0 X 1 86826023 5500695 10415014 630170 6436683 95674879 75324469 10756165 5117015 784651 3586975 86826023 88154762 1478918 -10008219 4300992 75324469 66715583 3436403 22290747 4287971 88154762 69073621 1362034 710151 4430223 66715583 0.47693 0.52307 0 0 96668977 34541637 62127340 13684675 8404943 5279732 10821550 3224158 7597392 75004464 LIMITED PARTNERSHIPS 9029940 F ALTERNATIVE INVESTMENTS 53147328 F 62177268 INTEREST RATE SWAP 1447407 EMPLOYEE RETENTION TAX CREDIT RECEIVABLE 1184117 BENEFICIAL INTEREST IN PHILLIPS TRUSTS 9658431 COLLECTIONS AND OTHER ASSETS 241000 12530955 ANNUITIES PAYABLE 132159 132159 X 43917592 -6175698 1513601 -4662097 48579689 545160 6627896 7173056 55752745 34031450 206519 206519 33824931 545160 6627896 7173056 40997987 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. PART X, LINE 2: 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 206,519. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENT 330,834. NET APPRECIATION (DEPRECIATION) ON BENEFICIAL INTEREST IN PHILLIPS TRUSTS 959,172. PERIODIC ADJUSTMENT OF ANNUITY OBLIGATIONS 17,076. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 6,627,896. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 206,519. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 6,627,896. 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. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 12502043 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 3595971 0 0 0 0 0 0 16098014 0 16098014 1 0 1 1 1 0 PART I, LINE 3: THE AMOUNTS REPORTED ON PART I, LINE 3 REPRESENT THE FAIR MARKET VALUE OF INVESTMENTS HELD IN THE REGION AS OF THE END OF THE TAX YEAR. 1 FINANCIAL AID 128 6627896 BOOK TUITION REDUCTION 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 X 0 1 0 0 0 0 0 0 0 PETER QUIMBY HEAD OF SCHOOL 451693 0 0 0 10488 0 65914 0 46940 0 575035 0 0 0 CYNTHIA ROSE SCANNELL CFO 253774 0 0 0 1060 0 15798 0 95976 0 366608 0 0 0 LESLIE L DICKEY DIRECTOR OF ADVANCEMENT 229540 0 0 0 888 0 14398 0 39030 0 283856 0 0 0 MICHAEL KINNEALEY ASSISTANT HEAD OF SCHOOL 176557 0 0 0 2484 0 20921 0 36992 0 236954 0 0 0 SARAH POWERS DEAN OF ENROLLMENT 157104 0 0 0 700 0 10153 0 40054 0 208011 0 0 0 LYNDA FITZGERALD DEAN OF FACULTY 144931 0 0 0 9724 0 16265 0 14816 0 185736 0 0 0 THOMAS JAMES TRAFTON DIRECTOR OF MAJOR GIFTS 145679 0 0 0 1290 0 13006 0 1006 0 160981 0 0 0 PART I, LINE 4B UNDER PETER QUIMBY'S EMPLOYMENT CONTRACTS COVERING 2014-2032, EACH YEAR OF THE TERM DURING WHICH HE IS EMPLOYED BY THE SCHOOL, THE SCHOOL WILL ACCUMULATE A DISCRETIONARY COMPENSATION AMOUNT. THE DISCRETIONARY ACCOUNT SHALL ACCRUE INTEREST ON A FISCAL YEAR ANNUAL BASIS AT THE SAME ANNUAL RATE OF RETURN THAT THE SCHOOL'S ENDOWMENT EARNS. THE BALANCE OF THE DISCRETIONARY ACCOUNT, INCLUDING ALL INCOME AND ACCUMULATIONS THEREIN, MAY BE PAID TO HIM WITHIN 60 DAYS UPON THE TERMINATION OF HIS CONTRACT IF APPROVED AT THAT TIME BY THE PRESIDENT AND TREASURER OF THE BOARD. THE DISCRETIONARY AMOUNT CREDITED TO THE ACCOUNT DURING THIS FISCAL YEAR WAS $25,000. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2019-03-13 23353177 REFUND PRIOR TAXABLE AND TAX-EXEMPT FINANCING 0 1 0 A 3623814 23353177 328526 23024651 2019 1 1 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 1 THE TORONTO-DOMINION 20.000000000000 0 0 0 0 1 A 1 PETER QUIMBY HEAD OF SCHOOL FACULTY HOUSING LOAN X 125000 56250 0 1 1 56250 X 1 61500 FMV X 6 82404 FMV 0 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 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENTS 330,834. NET APPRECIATION (DEPRECIATION) ON BENEFICIAL INTEREST IN PHILLIPS TRUSTS 959,172. PERIODIC ADJUSTMENT OF ANNUITY OBLIGATIONS 17,076.