2023-11-03T19:30:37-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 4 BATTERYMARCH PARK SUITE 100 QUINCY MA 02169 990 2022-07-01 042105775 TRUSTEES OF LAWRENCE ACADEMY AT GROTON MA CORP TRUS 9784486535 PO BOX 992 GROTON MA 01450 ROBERT KRAMER ASSISTANT HEAD FOR FIN AND OPS 9784486535 2023-10-30 1 ROBERT KRAMER 999009999 0 SHANNON CROWLEY P01594935 6177170831 2023-10-30 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JASON SAGHIR PO BOX 992 GROTON MA 01450 45682397 0 X WWW.LACADEMY.EDU X 1793 MA LAWRENCE ACADEMY'S MISSION ASSERTS THE FOLLOWING IN PROVIDING COLLEGE PREPARATORY EDUCATION FOR BOARDING AND DAY STUDENTS IN GRADES 9-12: "LAWRENCE ACADEMY RECOGNIZES YOU FOR WHO YOU ARE, INSPIRES YOU TO TAKE RESPONSIBILITY FOR WHO YOU WANT TO BECOME, SUPPORTS YOU AS YOU LEARN, AND EMPOWERS YOU TO TAKE ACTION FOR THE GREATER GOOD." THROUGH ITS MISSION AND PROGRAMS, LAWRENCE ACADEMY SEEKS EXCELLENCE AND DISTINCTION THROUGH A "STUDENT-CENTERED" APPROACH TO EDUCATION. THE SCHOOL'S FOCUS BEGINS WITH A CAREFULLY DESIGNED ACADEMIC PROGRAM THAT STRIVES FOR CREATIVE AND INTERDISCIPLINARY APPROACHES TO LEARNING. ARTS AND ATHLETICS ARE ADDITIONAL AVENUES FOR FOSTERING SELF-DISCOVERY, GROWTH, PASSION, AND ACCOMPLISHMENT IN YOUNG PEOPLE. ULTIMATELY THE TOTAL EDUCATION PROGRAM, INCLUDING LIFE ON CAMPUS AND IN THE DORMS, IS DEDICATED TO TRANSFORMING THE LIVES OF YOUNG PEOPLE AND CREATING A COMMUNITY WHERE WELL-BEING, MUTUAL SUPPORT, AND THOUGHTFUL, RESPONSIBLE LIVING ARE FOSTERED. 30 29 208 155 0 0 4751935 6894662 26080260 26689355 12111640 -106789 575029 90594 43518864 33567822 5341224 5020662 0 0 14356411 15658985 0 0 2385827 9985838 11003894 29683473 31683541 13835391 1884281 78910199 85230344 13073069 13270074 65837130 71960270 LAWRENCE ACADEMY RECOGNIZES YOU FOR WHO YOU ARE, INSPIRES YOU TO TAKE RESPONSIBILITY FOR WHO YOU WANT TO BECOME, SUPPORTS YOU AS YOU LEARN, AND EMPOWERS YOU TO TAKE ACTION FOR THE GREATER GOOD. 0 0 25938836 5020662 26874237 THROUGH ITS MISSION, EACH YEAR LAWRENCE ACADEMY PREPARES MORE THAN ONE HUNDRED GRADUATES FOR SUCCESS IN THEIR NEXT ACADEMIC EXPERIENCES AND IN LIFE. IN THE PROCESS, THE SCHOOL'S ACADEMICS, ARTS, AND ATHLETICS PROGRAMS ALLOW STUDENTS THE OPPORTUNITY TO EXCEL AMONGST PEERS IN THE CONTEXT OF A SUPERB EDUCATIONAL ENVIRONMENT, BOTH WITHIN AND BEYOND SCHOOL. WHILE WE WANT TO SHOW MEASURABLE DEVELOPMENT FOR EACH STUDENT, WE ALSO WANT STUDENTS TO HAVE RICH AND MEANINGFUL EXPERIENCES WITHIN AN INTERDEPENDENT COMMUNITY THAT WILL SHARPEN THEIR APTITUDE AS RESPONSIBLE CITIZENS. ULTIMATELY, WE WANT A LAWRENCE ACADEMY EDUCATION TO TRANSFORM BOTH THE INDIVIDUAL AND SOCIETY. THERE WERE 418 STUDENTS ENROLLED DURING THE 2022/2023 SCHOOL YEAR. 25938836 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 150 0 1 208 1 0 0 0 0 0 0 0 0 0 0 0 0 X 30 29 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 1 1 1 0 0 MA X ROBERT M KRAMER 9784486535 26 POWDERHOUSE ROAD GROTON MA 01450 R DANIEL SCHEIBE HEAD OF SCHOOL 60.00 X 448393 0 211025 ROBERT KRAMER ASST HEAD OF SCHOOL FOR FINANCE & OP 60.00 X 217100 0 42403 CHRISTOPHER DAVEY ASST HEAD OF SCHOOL FOR INSTITUTIONAL STRATEG 60.00 X 210120 0 16810 MELINDA RABOIN DIRECTOR OF HEALTH SERVICES 60.00 X 182963 0 23677 JO-ANN LOVEJOY CHIEF ADVANCEMENT OFFICER 60.00 X 184688 0 14775 ROBINSON C MOORE ASSOCIATE HEAD OF SCHOOL 60.00 X 153000 0 46280 ELIZABETH MARGRAF ASSISTANT HEAD OF SCHOOL 60.00 X 158875 0 37710 RAQUEL MAJESKI ASST HEAD OF EQUITY & COMM 60.00 X 132000 0 60595 MICHAEL POLSONETTI DEAN OF ADMISSIONS & ENROLLMENT 60.00 X 123000 0 55334 FRANK A MASTRANGELO DIRECTOR OF CAMPUS SAFETY & SECURITY 60.00 X 116176 0 59319 SAMUEL LIANG TRUSTEE 2.00 X 0 0 0 DOUGLAS LONG TRUSTEE 2.00 X 0 0 0 PETER MYETTE TRUSTEE 2.00 X 0 0 0 PAMELA AMUSA TRUSTEE 2.00 X 0 0 0 ALEX SUGAR TRUSTEE 2.00 X 0 0 0 RICHARD TYSON TRUSTEE 2.00 X 0 0 0 BRADFORD HOBBS TRUSTEE 2.00 X 0 0 0 STEPHEN WILKINS TRUSTEE 2.00 X 0 0 0 BRUCE MACNEIL TRUSTEE 2.00 X 0 0 0 KIYOHIKO HIROSE TRUSTEE 2.00 X 0 0 0 EDWARD STEINBORN TRUSTEE 2.00 X 0 0 0 SUSANNA GALLANT TRUSTEE 2.00 X 0 0 0 RONALD M ANSIN TRUSTEE 2.00 X 0 0 0 ROBERT ACHTMEYER TRUSTEE 2.00 X 0 0 0 G RANDALL CHAMBERLAIN TRUSTEE 2.00 X 0 0 0 MICHAEL MCLAUGHLIN TRUSTEE 2.00 X 0 0 0 GORDON SEWALL TRUSTEE 2.00 X 0 0 0 DEVIN O'REILLY TRUSTEE 2.00 X 0 0 0 TAYLOR SELE TRUSTEE 2.00 X 0 0 0 MELISSA BOIS TRUSTEE 2.00 X 0 0 0 COURTNEY COX HARRISON TRUSTEE 2.00 X 0 0 0 DAVID MAZZA TRUSTEE 2.00 X 0 0 0 KATHERINE BEEDE TRUSTEE 2.00 X 0 0 0 CYRUS DAFTARY TRUSTEE 2.00 X 0 0 0 HISE GIBSON TRUSTEE 2.00 X 0 0 0 ROBIN JONES TRUSTEE 2.00 X 0 0 0 DAVID SANTEUSANIO TRUSTEE THRU 08/2022 2.00 X 0 0 0 JASON SAGHIR TRUSTEE/PRESIDENT 5.00 X X 0 0 0 PHYLLIS ROTHSCHILD TRUSTEE/VICE PRESIDENT 5.00 X X 0 0 0 DAVID STONE TRUSTEE/TREASURER 5.00 X X 0 0 0 KAREN MITCHELL BRANDVOLD TRUSTEE/SECRETARY 5.00 X X 0 0 0 1926315 0 567928 63 0 1 0 SODEXO INC & AFFILIATES PO BOX 360170 PITTSBURGH PA 15251 DINING HALL SERVICE 1766851 X-PRO CLEANING INC 20 HILLTOP ROAD DRACUT MA 01826 CLEANING SERVICE 653525 FLANSBURGH ASSOCIATES INC 77 N WASHINGTON STREET BOSTON MA 02114 ARCHITECTURAL SERVICE 568018 GRAND CLASSROOM PO BOX 7166 CHARLOTTESVILLE VA 22906 SCHOOL TRIP OUTFITTER 352925 AGENCY SACKS 331 FOOTHILL ROAD BRIDGEWATER NJ 08807 MARKETING AND BRAND CONSULTING 342470 15 52787 6841875 228057 6894662 ACADEMIC YEAR TUITION 611110 26267480 26267480 ACADEMIC SUPPORT PROGRAM 611110 421875 421875 26689355 1208522 1208522 24985 48654 -23669 -23669 -23669 10669896 11985207 -1315311 -1315311 -1315311 10095 52787 80714 -70619 -70619 MISCELLANEOUS REVENUE 611110 184882 184882 184882 33567822 26874237 0 -201077 82600 82600 4938062 4938062 1226320 388094 766084 72142 11064396 9056024 856886 1151486 855936 649871 108581 97484 1709540 1303092 249122 157326 802793 625432 89368 87993 56543 56543 42500 42500 113037 113037 359418 65302 294116 279216 84610 152539 42067 821804 168465 311629 341710 122708 118413 3068 1227 3049307 2942581 76233 30493 75540 34298 12250 28992 185449 185449 1931162 1863571 48279 19312 334750 334750 FOOD SERVICE 2085606 2014700 50647 20259 ATHLETIC EXPENSES 579513 579513 ACADEMIC DEPT. EXPENSES 542468 542468 MISCELLANEOUS STUDENT S 362105 361593 512 62768 22060 40708 31683541 25938836 3358878 2385827 1803108 601561 10303680 4947404 983508 3173139 10133 9778 15274 13490 524799 583989 67254838 38574792 29122132 28680046 30769217 42299498 4966766 4478234 411582 443205 78910199 85230344 2076611 2032485 5435606 5813919 5560852 5423670 13073069 13270074 X 34841015 34140443 30996115 37819827 65837130 71960270 78910199 85230344 X 1884281 4216014 22845 X 0 1 X 1 0 X 5304829 4184061 3286510 4751935 6894662 24421997 5304829 4184061 3286510 4751935 6894662 24421997 4779200 19642797 1339765 1227357 975011 1445316 1233507 6220956 243906 422215 2389580 578700 184882 3819283 34462236 121614363 0.57000 0.53520 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2018 AMOUNT: $ 243,906. 2019 AMOUNT: $ 422,215. 2020 AMOUNT: $ 2,389,580. 2021 AMOUNT: $ 578,700. 2022 AMOUNT: $ 184,882. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 34977781 1143233 3496265 297324 1233482 38086473 40315179 1578985 -5671383 318575 926425 34977781 28975139 1490158 10998277 256586 891809 40315179 29584342 1279278 -756481 246764 885236 28975139 28901863 1126880 645599 176574 913426 29584342 0.32160 0.67840 0 0 3463442 3463442 53464306 29759843 23704463 9388312 8814949 573363 938778 938778 28680046 OTHER SECURITIES 4478234 F 4478234 X 31398606 4216014 71499 4287513 27111093 113037 6343692 6456729 33567822 25275466 17031 17031 25258435 113037 6312069 6425106 31683541 PART V, LINE 4: THE ENDOWMENT FUNDS ARE PERMANENT FUNDS WITH INCOME ONLY TO BE USED FOR EITHER UNRESTRICTED OR DONOR RESTRICTED PURPOSES. IN ADDITION TO UNRESTRICTED USE, FUNDS DESIGNATED AS RESTRICTED FUNDS SUPPORT VARIOUS PURPOSES AS FOLLOWS: FINANCIAL AID, SALARIES AND BENEFITS, ACADEMICS, COMMUNITY SERVICE, PHYSICAL PLANT, PRIZES, PROFESSIONAL DEVELOPMENT, SABBATICAL PROGRAMS, SPEAKERS/VISITING SCHOLAR AND STUDENT LIFE/STUDENT LEADERSHIP. PART X, LINE 2: THE ACADEMY QUALIFIES AS A TAX-EXEMPT, NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR FEDERAL OR STATE INCOME TAXES IS REQUIRED. IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, THE ACADEMY ANNUALLY EVALUATES ITS TAX STATUS AND TAX POSITIONS TAKEN WITH RESPECT TO ITS OPERATIONS AND FINANCIAL POSITION. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 48,654. CHANGE IN VALUE OF SPLIT INTEREST -8,778. CHANGE IN VALUE OF PERPETUAL TRUSTS 31,623. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND TUITION REMISSION 5,903,577. CAPITAL CAMPAIGN EXPENSES 440,115. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF PERPETUAL TRUSTS -31,623. RENTAL EXPENSES 48,654. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND TUITION REMISSION 5,903,577. CAPITAL CAMPAIGN EXPENSES 440,115. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -31,623. 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 NONDISCRIMINATION POLICY IS ON THE HOMEPAGE OF THE SCHOOL'S WEBSITE. NORTH AMERICA 0 0 FOREIGN INVESTMENTS 2613824 CAYMAN ISLANDS 0 0 FOREIGN INVESTMENTS 379551 CENTRAL AMERICA AND THE CARIBBEAN 0 0 STUDY ABROAD TRIP WINTERIM PROGRAM 242388 0 0 0 0 0 0 3235763 0 3235763 0 0 0 0 0 0 PART III ACCOUNTING METHOD: SPRING SOCIAL AND FUNDRAISER 56782 46687 10095 8430 9684 13859 REUNION WEEKEND 6100 6100 11216 28726 800 7999 62882 52787 10095 19646 38410 800 21858 80714 -70619 1 TOWN OF GROTON 173 MAIN STREET GROTON MA 01450 046001164 0 82500 CONTRIBUTION MADE TO THE TOWN TO HELP SUBSIDIZE THEIR ANNUAL OPERATING BUDGET. FINANCIAL AID FOR STUDENT 116 4938062 PART I, LINE 2: ALL FINANCIAL AID AWARDS ARE MADE BASED ON DEMONSTRATED FINANCIAL NEED AS DETERMINED BY THE SCHOOL AND SCHOLARSHIP SERVICE (SSS) BY NAIS. AWARDS ARE DETERMINED BY THE DIRECTOR OF FINANCIAL AID. ALL AWARDS ARE ISSUED AS REDUCTIONS IN TUITION BEING BILLED. APPROVED LIST OF AWARDS IS PROVIDED TO THE BUSINESS OFFICE AND ARE POSTED TO THE SPECIFIC STUDENT'S ACCOUNT ACCORDING TO THE TUITION PAYMENT PLAN THE FAMILY HAS SELECTED. LISTS AND POSTINGS ARE CROSS-CHECKED IN BUSINESS OFFICE TO ENSURE ACCURACY. X 1 1 X X X 0 0 0 0 0 0 0 0 0 R DANIEL SCHEIBE HEAD OF SCHOOL 448393 0 0 0 0 0 24400 0 186625 0 659418 0 0 0 ROBERT KRAMER ASST HEAD OF SCHOOL FOR FINANCE & OP 217100 0 0 0 0 0 17368 0 25035 0 259503 0 0 0 CHRISTOPHER DAVEY ASST HEAD OF SCHOOL FOR INSTITUTIONA 210120 0 0 0 0 0 16810 0 0 0 226930 0 0 0 MELINDA RABOIN DIRECTOR OF HEALTH SERVICES 182963 0 0 0 0 0 14637 0 9040 0 206640 0 0 0 JO-ANN LOVEJOY CHIEF ADVANCEMENT OFFICER 184688 0 0 0 0 0 14775 0 0 0 199463 0 0 0 ROBINSON C MOORE ASSOCIATE HEAD OF SCHOOL 153000 0 0 0 0 0 12240 0 34040 0 199280 0 0 0 ELIZABETH MARGRAF ASSISTANT HEAD OF SCHOOL 158875 0 0 0 0 0 12710 0 25000 0 196585 0 0 0 RAQUEL MAJESKI ASST HEAD OF EQUITY & COMM 132000 0 0 0 0 0 10560 0 50035 0 192595 0 0 0 MICHAEL POLSONETTI DEAN OF ADMISSIONS & ENROLLMENT 123000 0 0 0 0 0 9840 0 45494 0 178334 0 0 0 FRANK A MASTRANGELO DIRECTOR OF CAMPUS SAFETY & SECURITY 116176 0 0 0 0 0 9284 0 50035 0 175495 0 0 0 PART I, LINE 1A AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF LAWRENCE ACADEMY, HOUSING IS PROVIDED TO DANIEL SCHEIBE, HEAD OF SCHOOL, ROBINSON MOORE, ASSOCIATE HEAD OF SCHOOL, ELIZABETH MARGRAF, ASSISTANT HEAD OF SCHOOL LIFE, RAQUEL MAJESKI, ASSISTANT HEAD FOR EQUITY AND COMMUNITY LIFE, MICHAEL POLSONETTI, DEAN OF ADMISSIONS AND ENROLLMENT, AND FRANK MASTRANGELO, DIRECTOR OF CAMPUS SAFETY AND SECURITY. LAWRENCE ACADEMY BELIEVES THE HOUSING IS NOT TAXABLE. A MASS DEVELOPMENT FINANCE AGENCY 043431814 2022-05-12 5684383 REFINANCE OF 2012 BONDS USED TO FUND VARIOUS FACILITIES EXPANSIONS 0 0 0 A 142149 5684383 5684383 2022 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 0 0 0 1 A 1 X 10 177809 FMV AT DONATION X AUCTION ITEMS 35 42130 FMV AT DONATION X INKIND DONATIONS 5 8118 FMV AT DONATION 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS REPRESENTS THE NUMBER OF DONORS WHO GAVE DONATIONS FOR SECURITIES PUBLICLY TRADED. THE NUMBER OF CONTRIBUTIONS REPRESENTS THE NUMBER OF ITEMS DONATED FOR THE AUCTION. THE NUMBER OF CONTRIBUTIONS REPRESENTS THE NUMBER OF NON-AUCTION ITEMS DONATED. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETED FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. THE BOARD OF TRUSTEES WILL BE PROVIDED WITH AN ELECTRONIC VERSION OF THE FORM 990 AND SUPPORTING SCHEDULES PRIOR TO SUBMISSION WITH THE EXCEPTION OF A REDACTED VERSION OF SCHEDULE B, WHICH DOES NOT INCLUDE THE NAMES AND ADDRESSES OF DONORS. FORM 990, PART VI, SECTION B, LINE 12C EACH TRUSTEE MUST SIGN AN ANNUAL CONFLICT OF INTEREST FORM. IF A MEMBER OF THE BOARD OF TRUSTEES HAS AN INTEREST IN A PROPOSED TRANSACTION, HE OR SHE MUST DISCLOSE THE INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD OR EXECUTIVE COMMITTEE CONSIDERING THE PROPOSED BUSINESS TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE POTENTIAL CONFLICT HAS BEEN MADE, THE INTERESTED PERSON MUST LEAVE THE MEETING WHILE THE CONFLICT IS DISCUSSED AND VOTED ON. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION FOR THE HEAD OF SCHOOL IS DETERMINED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, WHO WILL INFORM THE BOARD OF ITS REVIEW. THE COMMITTEE LOOKS AT COMPARABLE DATA FROM A GROUP OF SCHOOLS. DATA IS TAKEN FROM THE NAIS EXECUTIVE COMPENSATION DATA PROVIDED BY NAIS MEMBER SCHOOLS. LEGAL COUNSEL IS CONTACTED WHEN THERE ARE PROPOSED CHANGES TO THE EXISTING TERMS OF THE CONTRACT. THE MEETINGS ARE DOCUMENTED AND A NEW CONTRACT IS PREPARED FOR THE HEAD OF SCHOOL. THE COMPENSATION COMMITTEE MET SEVERAL TIMES DURING FY20 TO REVIEW, NEGOTIATE AND PREPARE A NEW CONTRACT FOR THE HEAD OF SCHOOL. THE HEAD OF SCHOOL SIGNED A NEW CONTRACT ON NOVEMBER 1, 2019 THAT COVERS THE PERIOD FROM JULY 1, 2020 UP TO AND INCLUDING JUNE 30, 2025. THE HEAD OF SCHOOL IS RESPONSIBLE FOR SETTING THE SALARIES OF ALL OTHER EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 ALL FORMS REQUIRED TO BE AVAILABLE FOR PUBLIC INSPECTION WILL BE MADE AVAILABLE UPON WRITTEN REQUEST OR CAN BE VIEWED AT THE SCHOOL'S CORPORATE ADDRESS IN GROTON, MASSACHUSETTS. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -8,778. CHANGE IN VALUE OF PERPETUAL TRUSTS 31,623.