PHILLIPS BROOKS SCHOOL: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- PHILLIPS BROOKS SCHOOL (EIN 94-2494458)
- Tax period
- 2023-07-01 to 2024-06-30
- Filed
- 2025-05-14
- IRS object ID
- 202511349349311016
- Schema version
- 2023v6.0
- 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 O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-05-14T16:02:34-05:00 | ReturnTs |
| Tax Period End | 2024-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 881478669 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CBIZ ADVISORS LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1 MONTGOMERY STREET SUITE 1700 | AddressLine1Txt |
| City | SAN FRANCISCO | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 94104 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 942494458 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE PHILLIPS BROOKS SCHOOL | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | PHIL | BusinessNameControlTxt |
| Phone | 6508544545 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2245 AVY AVENUE | AddressLine1Txt |
| City | MENLO PARK | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 940256707 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | DIANE ROSENBERG | PersonNm |
| Person Title | INTERIM HEAD OF SCHOOL | PersonTitleTxt |
| Phone | 6508544545 | PhoneNum |
| Signature | 2025-05-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | ROGER BULOSAN | PreparerPersonNm |
| PTIN | P00221282 | PTIN |
| Phone | 4154326200 | PhoneNum |
| Preparation | 2025-05-14 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | DIANE ROSENBERG | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2245 AVY AVENUE | AddressLine1Txt |
| City | MENLO PARK | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 940256707 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $20,645,910 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.PHILLIPSBROOKS.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1978 | FormationYr |
| Legal Domicile State | CA | LegalDomicileStateCd |
| Activity Or Mission | INDEPENDENT COEDUCATIONAL SCHOOL FOR STUDENTS IN PRESCHOOL THROUGH FIFTH GRADE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 19 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 19 | VotingMembersIndependentCnt |
| Total Employee | 82 | TotalEmployeeCnt |
| Total Volunteers | 300 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $2,927,752 | PYContributionsGrantsAmt |
| CY Contributions Grants | $2,110,729 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $11,876,347 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $13,269,531 | CYProgramServiceRevenueAmt |
| PY Investment Income | $606,666 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,108,420 | CYInvestmentIncomeAmt |
| PY Other Revenue | $2,139 | PYOtherRevenueAmt |
| CY Other Revenue | $28,515 | CYOtherRevenueAmt |
| PY Total Revenue | $15,412,904 | PYTotalRevenueAmt |
| CY Total Revenue | $16,517,195 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $807,725 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $978,978 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $9,345,314 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $10,181,402 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $784,309 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $6,011,457 | PYOtherExpensesAmt |
| CY Other Expenses | $6,275,696 | CYOtherExpensesAmt |
| PY Total Expenses | $16,164,496 | PYTotalExpensesAmt |
| CY Total Expenses | $17,436,076 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$751,592 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$918,881 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $82,859,507 | TotalAssetsBOYAmt |
| Total Assets EOY | $83,757,458 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $57,473,648 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $57,933,257 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $25,385,859 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $25,824,201 | NetAssetsOrFundBalancesEOYAmt |
| Mission | THE PHILLIPS BROOKS SCHOOL COMMUNITY INSPIRES STUDENTS TO LOVE LEARNING, TO DEVELOP A SPIRITUAL NATURE, TO COMMUNICATE EFFECTIVELY, TO BE KIND TO OTHERS AND TO RESPECT THE UNIQUENESS OF EACH PERSON. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $12,616,095 | ExpenseAmt |
| Grant | $978,978 | GrantAmt |
| Revenue | $13,376,266 | RevenueAmt |
| Desc | EDUCATE APPROXIMATELY 300 STUDENTS TO ADVANCE ONE GRADE FROM PRESCHOOL THROUGH FIFTH GRADE WHILE PROVIDING EXCEPTIONAL EDUCATIONAL EXPERIENCE AND OPPORTUNITIES. | Desc |
| Total Program Service Expenses | $12,616,095 | 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 | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | 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 | 0 | TaxExemptBondsInd |
| 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 | 0 | 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 | 18 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 82 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| 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 |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| 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 | 19 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 19 | 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 | CA | StatesWhereCopyOfReturnIsFldCd |
| Own Website | Yes (X) | OwnWebsiteInd |
| 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 | DIANE MORRIS INTERIM CFO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6508544545 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2245 AVY AVENUE | AddressLine1Txt |
| City | MENLO PARK | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 94025 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (27 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| PUJA BATRA | |||||||
| CHAIR | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JENNY BROKAW | |||||||
| VICE CHAIR | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| DAVID CHAN | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| MARSHALL HAINES | |||||||
| VICE CHAIR FOR FINANCE | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| CHARLOTTE WAXMAN | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| MAYA DANI | |||||||
| VICE CHAIR FOR FINANCE | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| CINDY DODD | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ALEXANDER KVAMME | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ASHU AGRAWAL | |||||||
| TRUSTEE & EXEC COMM MEMBER | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| SUMBUL DESAI | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| EDWARD JOHNSON | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| DIANE ROSENBERG | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| WILEY ANDERSON | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| MARIE KAYAL | |||||||
| SECRETARY | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| SEEMA DARYANANI | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CHRISTINE MIRONOV | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| RACHAEL SKIFFER | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| TAMARA DUNN | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CHRISTIAN HEIM | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| KIM NORMINGTON | |||||||
| CFO | 40.00 | Yes (X) | $268,779 | $0 | $747 | ||
| SCOTT ERICKSON | |||||||
| HEAD OF SCHOOL | 40.00 | Yes (X) | $508,433 | $0 | $22,329 | ||
| OLANA KHAN | |||||||
| ASSIST. HEAD OF SCHOOL | 40.00 | Yes (X) | $222,821 | $0 | $14,371 | ||
| LISA BOULGER | |||||||
| EA TO HEAD AND OFFICE MGR | 40.00 | $167,081 | $0 | $25,781 | Yes (X) | ||
| SARA POPLACK | |||||||
| ASSISTANT HEAD OF SCHOOL OF ACADEMICS | 40.00 | $236,267 | $0 | $8,599 | Yes (X) | ||
| SCOTT HUNT | |||||||
| DIRECTOR OF DEVELOPMENT | 40.00 | $212,892 | $0 | $12,075 | Yes (X) | ||
| LILY HUI | |||||||
| CONTROLLER | 40.00 | $180,000 | $0 | $18,432 | Yes (X) | ||
| VANESSA ORTEGA | |||||||
| DIRECTOR OF ADMISSION | 40.00 | $174,005 | $0 | $10,008 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,970,278 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $112,342 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 24 | 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 |
|---|---|---|---|---|---|
| J G RAMOS JANITORIAL SERVICES | |||||
| 702 HIGH POINT WAY | HAYWARD | CA | 94541 | JANITORIAL | $237,391 |
| DEGREE HVAC INC | |||||
| 1160 INDUSTRIAL RD STE 2 | SAN CARLOS | CA | 94070 | REPAIR & MAINTENANCE | $163,336 |
| CAL GREEN REMODELING | |||||
| 1400 COLEMAN AVENUE STE F14-2 | SANTA CLARA | CA | 95050 | CONSTRUCTION | $154,994 |
| MARCUM LLP | |||||
| 1 MONTGOMERY ST SUITE 1700 | SAN FRANCISCO | CA | 94104 | PROFESSIONAL | $136,122 |
| VERACROSS LLC | |||||
| 401 EDGEWATER PLACE SUITE 360 | WAKEFIELD | MA | 01880 | PROFESSIONAL | $119,442 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $363,545 | FundraisingAmt |
| All Other Contributions | $1,747,184 | AllOtherContributionsAmt |
| Total Contributions | $2,110,729 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| TUITION AND FEES | 611600 | $12,621,571 | $12,621,571 |
| DAYCARE AND ENRICHMENT WORKSHOP F | 611600 | $441,406 | $441,406 |
| SUMMER PROGRAMS | 611600 | $186,279 | $186,279 |
| APPLICATION FEE | 611600 | $20,275 | $20,275 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $13,269,531 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,054,416 | TotalRevenueColumnAmt |
| Exclusion | $1,054,416 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $4,037,333 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $3,983,329 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $54,004 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $54,004 | TotalRevenueColumnAmt |
| Exclusion | $54,004 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $145,386 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $363,545 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $145,386 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANEOUS | Desc |
| Business | 611600 | BusinessCd |
| Total Revenue Column | $28,515 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $28,515 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $28,515 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $16,517,195 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $13,298,046 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,108,420 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $978,978 | TotalAmt |
| Program Services | $978,978 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,187,333 | TotalAmt |
| Management And General | $1,187,333 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,952,790 | TotalAmt |
| Program Services | $5,196,157 | ProgramServicesAmt |
| Management And General | $1,300,168 | ManagementAndGeneralAmt |
| Fundraising | $456,465 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $449,555 | TotalAmt |
| Program Services | $348,564 | ProgramServicesAmt |
| Management And General | $83,417 | ManagementAndGeneralAmt |
| Fundraising | $17,574 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,090,044 | TotalAmt |
| Program Services | $1,005,001 | ProgramServicesAmt |
| Management And General | $46,187 | ManagementAndGeneralAmt |
| Fundraising | $38,856 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $501,680 | TotalAmt |
| Program Services | $322,460 | ProgramServicesAmt |
| Management And General | $147,227 | ManagementAndGeneralAmt |
| Fundraising | $31,993 | FundraisingAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $548,147 | TotalAmt |
| Program Services | $56,542 | ProgramServicesAmt |
| Management And General | $410,995 | ManagementAndGeneralAmt |
| Fundraising | $80,610 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $294,808 | TotalAmt |
| Management And General | $294,808 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $38,520 | TotalAmt |
| Management And General | $38,520 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,733 | TotalAmt |
| Management And General | $3,070 | ManagementAndGeneralAmt |
| Fundraising | $12,663 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $143,039 | TotalAmt |
| Program Services | $11,645 | ProgramServicesAmt |
| Management And General | $122,255 | ManagementAndGeneralAmt |
| Fundraising | $9,139 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $450,874 | TotalAmt |
| Program Services | $366,560 | ProgramServicesAmt |
| Management And General | $76,649 | ManagementAndGeneralAmt |
| Fundraising | $7,665 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,912,825 | TotalAmt |
| Program Services | $2,877,401 | ProgramServicesAmt |
| Management And General | $6,998 | ManagementAndGeneralAmt |
| Fundraising | $28,426 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $119,042 | TotalAmt |
| Program Services | $63,140 | ProgramServicesAmt |
| Management And General | $16,841 | ManagementAndGeneralAmt |
| Fundraising | $39,061 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $432,961 | TotalAmt |
| Program Services | $351,998 | ProgramServicesAmt |
| Management And General | $73,603 | ManagementAndGeneralAmt |
| Fundraising | $7,360 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $162,872 | TotalAmt |
| Program Services | $147,194 | ProgramServicesAmt |
| Fundraising | $15,678 | FundraisingAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| CURRICULUM AND SUPPLIES | $572,827 | $572,827 | ||
| OTHER OFFICE | $297,969 | $104,281 | $186,027 | $7,661 |
| OTHER EXPENSES | $140,774 | $115,539 | $25,235 | |
| FACULTY/STAFF DEVELOPME | $137,179 | $97,808 | $33,448 | $5,923 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,126 | TotalAmt |
| Management And General | $8,126 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,436,076 | TotalAmt |
| Program Services | $12,616,095 | ProgramServicesAmt |
| Management And General | $4,035,672 | ManagementAndGeneralAmt |
| Fundraising | $784,309 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,709,402 | BOYAmt |
| EOY | $4,635,918 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,018,295 | BOYAmt |
| EOY | $642,971 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,402,163 | BOYAmt |
| EOY | $606,797 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,077,812 | BOYAmt |
| EOY | $3,111,759 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $620,496 | BOYAmt |
| EOY | $653,408 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $18,966,192 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $12,511,828 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,468,953 | BOYAmt |
| EOY | $6,454,364 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,805,879 | BOYAmt |
| EOY | $26,605,655 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $41,756,507 | BOYAmt |
| EOY | $41,046,586 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $82,859,507 | BOYAmt |
| EOY | $83,757,458 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,645,959 | BOYAmt |
| EOY | $1,650,813 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,632,330 | BOYAmt |
| EOY | $11,966,597 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $44,195,359 | BOYAmt |
| EOY | $44,315,847 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $57,473,648 | BOYAmt |
| EOY | $57,933,257 | 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 | $9,571,734 | BOYAmt |
| EOY | $8,859,584 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,814,125 | BOYAmt |
| EOY | $16,964,617 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,385,859 | BOYAmt |
| EOY | $25,824,201 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $82,859,507 | BOYAmt |
| EOY | $83,757,458 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$918,881 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,357,223 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | 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 |
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
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $12,517,922 | BeginningYearBalanceAmt |
| Contributions | $138,610 | ContributionsAmt |
| Investment Earnings Or Losses | $1,639,962 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $470,926 | OtherExpendituresAmt |
| End Year Balance | $13,825,568 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $10,597,347 | BeginningYearBalanceAmt |
| Contributions | $1,158,211 | ContributionsAmt |
| Investment Earnings Or Losses | $1,233,999 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $471,635 | OtherExpendituresAmt |
| End Year Balance | $12,517,922 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $12,940,322 | BeginningYearBalanceAmt |
| Contributions | $2,500 | ContributionsAmt |
| Investment Earnings Or Losses | -$1,897,696 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $447,779 | OtherExpendituresAmt |
| End Year Balance | $10,597,347 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $10,839,314 | BeginningYearBalanceAmt |
| Contributions | $2,500 | ContributionsAmt |
| Investment Earnings Or Losses | $2,520,367 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $421,859 | OtherExpendituresAmt |
| End Year Balance | $12,940,322 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $10,777,194 | BeginningYearBalanceAmt |
| Contributions | $6,404 | ContributionsAmt |
| Investment Earnings Or Losses | $460,482 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $404,766 | OtherExpendituresAmt |
| End Year Balance | $10,839,314 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.01000 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.64000 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.35000 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $18,107,564 | OtherCostOrOtherBasisAmt |
| Depreciation | $11,822,320 | DepreciationAmt |
| Book Value | $6,285,244 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $858,628 | OtherCostOrOtherBasisAmt |
| Depreciation | $689,508 | DepreciationAmt |
| Book Value | $169,120 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $6,454,364 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ROU ASSET | Desc |
| Book Value | $41,046,586 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $41,046,586 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | LEASE LIABILITY | Desc |
| Amt | $44,315,847 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $44,315,847 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $16,856,920 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $1,357,223 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $1,357,223 | RevenueNotReportedAmt |
| Revenue Subtotal | $15,499,697 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $38,520 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | $978,978 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $1,017,498 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $16,517,195 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $16,418,578 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $16,418,578 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $38,520 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $978,978 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $1,017,498 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $17,436,076 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART V, LINE 4: | THE SCHOOL'S ENDOWMENT CONSISTS OF FIVE INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES, INCLUDING BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY U.S. GAAP, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE BOARD OF TRUSTEES HAVE INTERPRETED CALIFORNIA'S ENACTED VERSION OF THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT ("UPMIFA") AS REQUIRING THE PRESERVATION OF THE FAIR VALUE OF THE ORIGINAL GIFT AS OF THE GIFT DATE OF THE DONOR-RESTRICTED ENDOWMENT FUNDS ABSENT EXPLICIT DONOR STIPULATIONS TO THE CONTRARY. AS A RESULT OF THIS INTERPRETATION, THE SCHOOL CLASSIFIES AS PERMANENT NET ASSETS WITH DONOR RESTRICTIONS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE ENDOWMENT, AND (C) ACCUMULATIONS TO THE ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUND THAT IS NOT REQUIRED TO BE RETAINED BY DONOR IS CLASSIFIED AS EXPENDABLE NET ASSETS WITH DONOR RESTRICTION UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY THE SCHOOL IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY UPMIFA. IN ACCORDANCE WITH UPMIFA, THE SCHOOL CONSIDERS THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS: (1) THE DURATION AND PRESERVATION OF THE FUND (2) THE PURPOSES OF THE SCHOOL AND THE DONOR-RESTRICTED ENDOWMENT FUND (3) GENERAL ECONOMIC CONDITIONS (4) THE POSSIBLE EFFECT OF INFLATION AND DEFLATION (5) THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS (6) OTHER RESOURCES OF THE SCHOOL (7) THE INVESTMENT POLICIES OF THE SCHOOL FROM TIME TO TIME, THE FAIR VALUE OF ASSETS ASSOCIATED WITH INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS MAY FALL BELOW THE LEVEL THAT THE DONOR OR UPMIFA REQUIRES THE SCHOOL TO RETAIN AS A FUND OF PERPETUAL DURATION. THE SCHOOL HAS A POLICY THAT PERMITS SPENDING FROM UNDERWATER ENDOWMENT FUNDS DEPENDING ON THE DEGREE TO WHICH THE FUND IS UNDERWATER, UNLESS OTHERWISE PRECLUDED BY DONOR INTENT OR RELEVANT LAWS AND REGULATIONS. THERE WERE NO SUCH DEFICIENCIES AS OF JUNE 30, 2022. THE SCHOOL HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE SCHOOL MUST HOLD IN PERPETUITY OR FOR A DONOR-SPECIFIED PERIOD(S) AS WELL AS BOARD-DESIGNATED FUNDS. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF TRUSTEES, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRODUCE RESULTS THAT EXCEED A BENCHMARK COMPRISED OF APPROPRIATELY WEIGHTED STANDARD INDUSTRY INDICES AS DETERMINED BY THE FINANCE AND INVESTMENT COMMITTEE. ACTUAL RETURNS IN THE ENDOWMENT ARE EXPECTED TO VARY FROM YEAR TO YEAR. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE SCHOOL RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST AND DIVIDENDS). THE SCHOOL TARGETS A DIVERSIFIED ASSET ALLOCATION THAT PLACES A GREATER EMPHASIS ON EQUITY-BASED INVESTMENTS TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. ALLOWABLE RANGES FOR ASSET CLASSES ARE: EQUITIES (50-80%), FIXED INCOME (20-50%) AND ALTERNATIVE INVESTMENTS (0-10%). THE SCHOOL HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION EACH YEAR 4% OF ITS ENDOWMENT FUND'S AVERAGE FAIR VALUE OVER THE PRIOR 12 QUARTERS THROUGH THE FISCAL YEAR-END PROCEEDING THE FISCAL YEAR IN WHICH THE DISTRIBUTION IS PLANNED. IN ESTABLISHING THIS POLICY, THE SCHOOL CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS ENDOWMENT. ACCORDINGLY, OVER THE LONG-TERM, THE SCHOOL EXPECTS THE CURRENT SPENDING POLICY TO ACHIEVE ITS OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS HELD IN PERPETUITY OR FOR A SPECIFIED TERM AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS AND REINVESTED INVESTMENT RETURN. |
| PART X, LINE 2: | THE SCHOOL IS A QUALIFIED ORGANIZATION EXEMPT FROM FEDERAL INCOME TAXES AND STATE FRANCHISE TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC") AND SECTION 23701D OF THE CALIFORNIA REVENUE AND TAXATION CODE, RESPECTIVELY. ACCORDINGLY, THE SCHOOL IS EXEMPT FROM FEDERAL AND CALIFORNIA INCOME TAXES AND IS NOT LIABLE FOR FEDERAL UNEMPLOYMENT TAXES. U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE THE TAX POSITIONS TAKEN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE SCHOOL HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE-LIKELY-THAN-NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT HAS EVALUATED THE SCHOOL'S TAX POSITIONS TAKEN AND CONCLUDED THAT IT MAINTAINED ITS TAX-EXEMPT STATUS AND HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. THEREFORE, NO PROVISION OR LIABILITY FOR UNKNOWN INCOME TAXES HAS BEEN INCLUDED IN THE FINANCIAL STATEMENTS. THE SCHOOL'S TAX RETURNS ARE SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. HOWEVER, THERE ARE NO EXAMINATIONS IN PROGRESS NOR ARE THERE ANY PENDING. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | FINANCIAL AID AWARDS NETTED ON AUDITED FINANCIAL STATEMENTS 978,978. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | FINANCIAL AID AWARDS NETTED ON AUDITED FINANCIAL STATEMENTS 978,978. |
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 | 0 | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE E, PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | THE RACIALLY NONDISCRIMINATORY POLICY IS IN THE SAN FRANCISCO CHRONICLE ON FEBRUARY 24, 2023. | ExplanationTxt |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | PBSA EVENT | Event1Nm |
| Gross Receipts Event1 | $508,931 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $363,545 | CharitableContriEvent1Amt |
| Gross Revenue Event1 | $145,386 | GrossRevenueEvent1Amt |
| Other Direct Expenses Event1 | $145,386 | OtherDirectExpensesEvent1Amt |
| Gross Receipts Total | $508,931 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $363,545 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $145,386 | GrossRevenueTotalEventsAmt |
| Oth Direct Expnss Total Events | $145,386 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $145,386 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | $0 | NetIncomeSummaryAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | FINANCIAL AID AWARDS | GrantTypeTxt |
| Recipient | 46 | RecipientCnt |
| Non Cash Assistance | $978,978 | NonCashAssistanceAmt |
| Non Cash Assistance | TUITION ASSISTANCE | NonCashAssistanceDesc |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE PHILLIPS BROOKS SCHOOL PROVIDES FINANCIAL ASSISTANCE TO FAMILIES WHO QUALIFY. FAMILIES MUST COMPLETE A FINANCIAL AID APPLICATION AND PROVIDE TAX RETURNS TO SUPPORT THEIR APPLICATION. THE FINANCIAL ASSISTANCE COMMITTEE THEN MEETS TO DISCUSS THE ALLOCATION OF THE BUDGETED FUNDS TO THOSE WITH DEMONSTRATED NEED. RECIPIENTS ARE NOTIFIED OF AWARDS WHICH TAKE THE FORM OF REDUCED TUITION EXPENSE IN THE UPCOMING SCHOOL YEAR. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| 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 |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| 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 (8 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SCOTT ERICKSON | ||||||||||||||
| HEAD OF SCHOOL | $508,433 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $22,329 | $0 | $530,762 | $0 | $0 | $0 |
| KIM NORMINGTON | ||||||||||||||
| CFO | $268,779 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $747 | $0 | $269,526 | $0 | $0 | $0 |
| SARA POPLACK | ||||||||||||||
| ASSISTANT HEAD OF SCHOOL OF ACADEMIC | $236,267 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $8,599 | $0 | $244,866 | $0 | $0 | $0 |
| OLANA KHAN | ||||||||||||||
| ASSIST. HEAD OF SCHOOL | $222,821 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $14,371 | $0 | $237,192 | $0 | $0 | $0 |
| SCOTT HUNT | ||||||||||||||
| DIRECTOR OF DEVELOPMENT | $212,892 | $0 | $0 | $0 | $0 | $0 | $1,208 | $0 | $10,867 | $0 | $224,967 | $0 | $0 | $0 |
| LILY HUI | ||||||||||||||
| CONTROLLER | $180,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $18,432 | $0 | $198,432 | $0 | $0 | $0 |
| LISA BOULGER | ||||||||||||||
| EA TO HEAD AND OFFICE MGR | $167,081 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $25,781 | $0 | $192,862 | $0 | $0 | $0 |
| VANESSA ORTEGA | ||||||||||||||
| DIRECTOR OF ADMISSION | $174,005 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $10,008 | $0 | $184,013 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | A COMPLETE COPY OF FORM 990 (INCLUDING SCHEDULE B WITHOUT DONOR NAMES AND ADDRESSES) IS SENT TO THE WHOLE BOARD FOR THEIR REVIEW PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE BYLAWS OF THE BOARD OF TRUSTEES INCLUDE A CONFLICT OF INTEREST POLICY. IN ADDITION, TRUSTEES SIGN AND FILE WITH THE CORPORATE SECRETARY A CONFLICT OF INTEREST STATEMENT. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE PBS BOARD OF TRUSTEES EXECUTED A NEW CONTRACT WITH THE HEAD OF SCHOOL THAT WAS EXECUTED IN NOVEMBER 2019. COMPENSATION AND BENEFITS ARE OUTLINED IN THIS CONTRACT. THE CONTRACT NEGOTIATION PROCESS INCLUDED REVIEW OF COMPARABLE DATA, SUPPORT OF AN OUTSIDE EXECUTIVE COMPENSATION CONSULTANT, AND REVIEW/APPROVAL BY INDEPENDENT PERSONS. IN ADDITION, THE BOARD REVIEWED AND APPROVED A TOTAL COMPENSATION PHILOSOPHY STATEMENT IN JANUARY 2014, WHICH GUIDES THE SCHOOL'S COMPENSATION PLAN. THE HEAD OF SCHOOL REVIEWS REGIONAL ISBOA DATA ON AN ANNUAL BASIS FOR KEY EMPLOYEES OF THE SCHOOL. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE SCHOOL'S FORM 990 IS AVAILABLE ON GUIDESTAR, AND WE PROVIDE AUDITED FINANCIALS, GOVERNANCE DOCUMENTS AND CONFLICT OF INTEREST POLICY TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XII, LINE 2C: | THERE IS NO CHANGE IN THE PROCESS FROM THE PRIOR YEAR. |