2025-05-08T13:15:08-05:00 2024-06-30 871353108 EISNER ADVISORY GROUP LLC 130 NORTH 18TH STREET SUITE 3000 PHILADELPHIA PA 191032757 990 2023-07-01 510065745 TOWER HILL SCHOOL ASSOCIATION TOWE 3026578360 2813 WEST 17TH STREET WILMINGTON DE 19806 ERIC NORMAN CFO 3026578360 2025-05-05 1 0 HELEN M MARTIN P01330899 2158818800 2023 2025-03-06 01:10:19Z SARAH BAKER 2813 WEST 17TH STREET WILMINGTON DE 19806 45123581 0 X WWW.TOWERHILL.ORG X 1919 DE TOWER HILL SCHOOL IS A CO-EDUCATIONAL SCHOOL FOR STUDENTS 3 YEARS OLD THROUGH GRADE 12. 21 21 277 233 0 0 5801269 5232183 27247795 28927810 6691594 4853322 197369 231476 39938027 39244791 5613995 5887102 0 0 16187153 17201172 0 0 1333951 8088176 8491281 29889324 31579555 10048703 7665236 116101299 125431337 16987665 15841657 99113634 109589680 X TOWER HILL SCHOOL PREPARES STUDENTS FROM DIVERSE BACKGROUNDS FOR FULL AND CREATIVE ENGAGEMENT WITH A DYNAMIC WORLD. EACH STUDENT IS PROVIDED WITH AN EDUCATIONAL EXPERIENCE THAT EMPHASIZES THE DEVELOPMENT OF AN INQUISITIVE, DISCERNING AND CRITICAL MIND; THE VALUE OF BEING CREATIVE AND AESTHETICALLY SENSITIVE; THE APPRECIATION OF PHYSICAL WELL-BEING; THE ABILITY TO COLLABORATE AND FUNCTION AS PART OF A TEAM; AND THE GROWTH OF CHARACTER. 0 0 24524249 5887102 28684039 EDUCATIONAL PROGRAMS - TOWER HILL IS A CO-EDUCATIONAL INDEPENDENT SCHOOL WITH 861 STUDENTS FROM 3 YEARS OLD THROUGH GRADE 12 IN 2023-2024 (285 LOWER SCHOOL, 238 MIDDLE SCHOOL, 337 UPPER SCHOOL). THE SCHOOL PROVIDES AN ENRICHED AND CHALLENGING COLLEGE PREPARATORY PROGRAM IN WHICH EACH STUDENT'S ABILITIES AND TALENTS ARE RECOGNIZED AND RESPECTED. THE PROGRAM OFFERS A PERSONALIZED AND INNOVATIVE APPROACH, BUILT ON A STRONG TRADITIONAL FOUNDATION WITHIN A WELCOMING AND INCLUSIVE COMMUNITY. TOWER HILL GRADUATED 81 STUDENTS IN THE CLASS OF 2024. MEMBERS OF THIS CLASS ARE ATTENDING AMERICAN UNIVERSITY, AMHERST COLLEGE, ARCADIA UNIVERSITY, ARIZONA STATE UNIVERSITY, BOSTON COLLEGE, BROWN UNIVERSITY, BUCKNELL UNIVERSITY, CLEMSON UNIVERSITY, COLLEGE OF CHARLESTON, COLORADO COLLEGE, CORNELL UNIVERSITY, DAVIDSON COLLEGE, DENISON UNIVERSITY, DREXEL UNIVERSITY, DUKE UNIVERSITY, DUQUESNE UNIVERSITY, EMORY UNIVERSITY, FRANKLIN & MARSHALL COLLEGE, GEORGETOWN UNIVERSITY, JAMES MADISON UNIVERSITY, KING'S COLLEGE LONDON, LAFAYETTE COLLEGE, LOYOLA UNIVERSITY MARYLAND, NORTHEASTERN UNIVERSITY, PLYMOUTH STATE UNIVERSITY, PURDUE UNIVERSITY, SAVANNAH COLLEGE OF ART AND DESIGN, SMITH COLLEGE, SOUTHERN METHODIST UNIVERSITY, SPELMAN COLLEGE, STANFORD UNIVERSITY, STETSON UNIVERSITY, SYRACUSE UNIVERSITY, THE OHIO STATE UNIVERSITY, THE PENNSYLVANIA STATE UNIVERSITY, THE UNIVERSITY OF ALABAMA, THE UNIVERSITY OF CHICAGO, THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL, THE UNIVERSITY OF NORTH CAROLINA AT CHARLOTTE, THE UNIVERSITY OF TEXAS AT AUSTIN, TRINITY COLLEGE, TUFTS UNIVERSITY, TULANE UNIVERSITY, UNIVERSITY OF DELAWARE, UNIVERSITY OF MICHIGAN, UNIVERSITY OF PENNSYLVANIA, UNIVERSITY OF RICHMOND, UNIVERSITY OF ST ANDREWS, UNIVERSITY OF UTAH, VILLANOVA UNIVERSITY, WAKE FOREST UNIVERSITY, WASHINGTON AND LEE UNIVERSITY, WILLIAM & MARY, AND YALE UNIVERSITY. 296032 244925 AFTER SCHOOL PROGRAM - THE KALEIDOSCOPE AFTER SCHOOL PROGRAM SERVES STUDENTS AGE 3 THROUGH 6 EVERY SCHOOL DAY FROM 2:45 TO 6:00PM. THIS PROGRAM PROVIDES A CONTINUATION OF THE ATTENTION AND GUIDANCE THEY RECEIVE IN TOWER HILL'S CLASSROOMS, BUT IN A MORE HOME-LIKE SETTING. SUPERVISED HOMEWORK TIME, INSIDE PLAY, OUTDOOR SPORTS AND AGE-APPROPRIATE ACTIVITIES GIVE STUDENT THE CHANCE TO FULFILL THEIR RESPONSIBILITIES AND GIVE THEIR IMAGINATIONS A WORKOUT TOO. ENRICHMENT OFFERING INCLUDE PROGRAMS SUCH AS CHINESE, DRAMA, CHESS, SEWING, GOLF, KARATE, DANCE, SOCCER AND TENNIS, AMONG OTHERS. 288576 244025 SUMMER CAMP PROGRAM -SUMMER AT TOWER HILL PROVIDES EXCITING ACADEMIC AND ENRICHMENT ACTIVITIES, PLUS A FULL RANGE OF ATHLETIC CAMPS IN DIFFERENT AGE GROUPS. DAY CAMP PROVIDES WEEKLY THEMES WITH SPECIAL GUESTS AND/OR FIELD TRIPS, SWIMMING OR WATER PLAY. ENRICHMENT CAMPS BROADEN CHILDREN'S ARTISTIC AND ACADEMIC HORIZONS IN NEW WAYS. SPORTS CAMPS ARE RUN BY TOWER HILL COACHES AND OUTSIDE PARTNER ORGANIZATIONS FOR BUDDING ATHLETES. SUMMER AT TOWER HILL ALSO INTRODUCES PROSPECTIVE STUDENT TO TOWER HILL'S EXPANSIVE FACILITIES. 25108857 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 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 61 0 1 277 1 0 1 CJ UK 0 0 0 1 1 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ERIC NORMAN CFO 3025101810 1611 TOWER ROAD WILMINGTON DE 19806 BEN DU PONT CHAIR 2.00 X X 0 0 0 JOHN M FLYNN SECRETARY 2.00 X X 0 0 0 MARNA WHITTINGTON TREASURER 2.00 X X 0 0 0 SUZANNE ASHLEY TRUSTEE 2.00 X 0 0 0 KIMBERLY CASSIDY TRUSTEE 2.00 X 0 0 0 REGIS DE RAMEL TRUSTEE 2.00 X 0 0 0 ROBERT V DESANTIS TRUSTEE 2.00 X 0 0 0 HEATHER RICHARDS EVANS TRUSTEE 2.00 X 0 0 0 JOHN GAVENONIS TRUSTEE 2.00 X 0 0 0 LAIRD HAYWARD TRUSTEE 2.00 X 0 0 0 HENRY MELLON TRUSTEE 2.00 X 0 0 0 CATHERINE L MILLER TRUSTEE 2.00 X 0 0 0 DAVID NOWLAND TRUSTEE 2.00 X 0 0 0 LISA A OLSON TRUSTEE 2.00 X 0 0 0 J MATHIEU PLUMB TRUSTEE 2.00 X 0 0 0 LOGAN READ TRUSTEE 2.00 X 0 0 0 SONAL SHEPPARD TRUSTEE 2.00 X 0 0 0 ISABELLA SPEAKMAN TIMON TRUSTEE 2.00 X 0 0 0 GENELLE TRADER TRUSTEE 2.00 X 0 0 0 CARMEN WALLACE TRUSTEE 2.00 X 0 0 0 GINA WARD TRUSTEE 2.00 X 0 0 0 ERIC NORMAN CFO 40.00 X 279432 0 35010 SARAH BAKER HEAD OF SCHOOL 40.00 X 226195 0 36508 ANTHONY PISAPIA ASSOC HEAD OF SCHOOL (THRU 7/6/23) 0.00 X 254215 0 29920 KRISTIN MUMFORD DIRECTOR OF ADMISSIONS/ADVANCEMENT 40.00 X 239802 0 50553 LINDSAY ACEVADO DIRECTOR OF COLLEGE COUNSELING 40.00 X 131150 0 16874 KAREN GRAHAM DIR OF FINANCE AND HR 40.00 X 134177 0 10646 AMY BICKHART HEAD OF LOWER SCHOOL 40.00 X 117790 0 37706 ELIZABETH SPEERS FORMER HEAD OF SCHOOL (THRU 6/30/23) 0.00 X 304290 0 38007 1687051 0 255224 14 1 1 0 WHITING-TURNER CONTRACTING COMPANY INC 300 E JOPPA RD 8TH FL BALTIMORE MD 21286 CONSTRUCTION CONTRACTOR 5949964 CULINART GROUP 150 GORDON DRIVE EXTON PA 19341 FOOD SERVICE 1164142 ASTROTURF (PRODUCTION) 2680 ABUTMENT ROAD DALTON GA 30721 SUPPLY AND INSTALL ASTROTURF ATHLETIC FI 1117530 SYNERGI PARTNERS INC PO BOX 5599 FLORENCE SC 29502 PROFESSIONAL SERVICES- ASSISTANCE WITH C 523089 FIRST CHOICE CLEANING SERVICES 1722 NEWPORT GAP PIKE WILMINGTON DE 19808 CLEANING SERVICE 390536 9 38024 327707 4866452 224338 5232183 TUITION 611110 27786351 27786351 AUXILIARY REVENUE 611110 1120589 1120589 FACILITIES RENTALS 611110 20870 20870 28927810 2253827 2253827 8450182 5850687 2599495 2599495 2599495 14400 38024 28103 -13703 -13703 ANCILLARY INCOME 611110 245179 245179 245179 39244791 29172989 0 4839619 5887102 5887102 740169 388762 351407 13176516 9757196 2606261 813059 814519 629281 142596 42642 1457483 972933 381203 103347 1012485 770291 191992 50202 91865 91865 234753 234753 1640117 1397061 200154 42902 173685 21029 25155 127501 469574 451172 17510 892 1591684 1529305 59355 3024 373790 293397 72363 8030 244878 228886 15539 453 1717769 1650450 64055 3264 SUPPLIES AND MATERIALS 928623 800622 78398 49603 FEES AND MISCELLANEOUS 744455 164511 558588 21356 EVENTS 280088 166859 45553 67676 31579555 25108857 5136747 1333951 9467305 8427232 2292222 3589176 102563 93521 130561 302967 85003141 41221810 37781704 43781331 40277097 44278027 20238583 21714723 5811264 3244360 116101299 125431337 1532156 987526 7066267 6784148 8389242 8069983 16987665 15841657 X 48546845 52332588 50566789 57257092 99113634 109589680 116101299 125431337 X 7665236 2709330 -254346 355826 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 51769951 469203 5861901 850184 1217889 56032982 48778048 579757 4479015 974342 1092527 51769951 53726851 628479 -3788464 845287 943531 48778048 35538321 6108435 13797389 805903 911391 53726851 36846549 437137 -103365 592542 1049458 35538321 0.24374 0.53451 0.22175 0 0 3247658 3247658 60188784 29035888 31152896 11022018 8836688 2185330 3972131 3349234 622897 6572550 6572550 43781331 VANGUARD 500 INDEX FUND ADMIRAL 10242830 F HIRTLE CALLAGHAN SELECT EQUITY FUND LP 11471893 F 21714723 X 25973542 383929 383929 25589613 13655178 13655178 39244791 25720556 28103 28103 25692453 5887102 5887102 31579555 PART V, LINE 4: TOWER HILL SCHOOL ASSOCIATION'S VARIOUS INDIVIDUAL ENDOWMENT FUNDS WERE CREATED BY DONORS TO SUPPLEMENT FUNDING IN PERPETUITY FOR EDUCATIONAL PROGRAMS, SCHOOL OPERATIONS, SCHOLARSHIPS, FACULTY COMPENSATION AND FORUMS. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS CLASSIFIED THE SCHOOL AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("CODE"); AS AN ORGANIZATION, CONTRIBUTIONS TO WHICH ARE DEDUCTIBLE UNDER SECTION 170(B) OF THE CODE; AND AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION AS DEFINED IN SECTION 509(A) OF THE CODE. MANAGEMENT HAS DETERMINED THAT AS OF JUNE 30, 2024 AND 2023, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE SCHOOL RECOGNIZES ACCRUED INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS, IF ANY. THERE WERE NO INCOME TAX RELATED INTEREST AND PENALTIES RECORDED FOR EITHER OF THE YEARS ENDED JUNE 30, 2024 OR 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT DIRECT COSTS 28,103. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS 355,826. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE, REMISSION AND MERIT-BASED AWARDS 5,887,102. RESTRICTED CONTRIBUTIONS 3,126,251. INVESTMENT INCOME, NET OF BOARD DESIGNATED APPROPRIATIONS 3,834,118. EMPLOYEE RETENTION CREDIT 327,707. GRANTS 480,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT DIRECT EXPENSES 28,103. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE, REMISSION AND MERIT-BASED AWARDS 5,887,102. 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'S DIVERSITY POLICIES ARE CONTAINED IN VARIOUS MEDIA NOTICES WHICH INCLUDE, BUT ARE NOT LIMITED TO, THE TOWER HILL GUIDE BOOK AND APPLICATION FORM PROVIDED TO PROSPECTIVE FAMILIES, THE TOWER HILL WEBSITE AND THROUGH OUR MEMBERSHIP IN THE ASSOCIATION OF DELAWARE VALLEY INDEPENDENT SCHOOLS (ADVIS). OUR NONDISCRIMINATION POLICY ALSO ACCOMPANIES ALL JOB VACANCY ADVERTISEMENTS. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 2040090 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 5305975 0 0 0 0 0 0 7346065 0 7346065 0 0 0 0 0 0 GOLF OUTING 52424 38024 14400 28103 0 52424 38024 14400 28103 28103 -13703 1 TUITION REMISSION AND MERIT-BASED AWARDS 98 1910827 FINANCIAL ASSISTANCE 327 3976275 PART I, LINE 2: THE SCHOOL AWARDS SCHOLARSHIPS TO STUDENTS BASED MERIT OR DEMONSTRATED FINANCIAL NEED. PARTIAL TUITION REMISSION IS ALSO GRANTED TO CHILDREN OF FACULTY AND STAFF. X X X X X X 1 1 X X X X X 1 0 0 0 0 0 0 0 0 ELIZABETH SPEERS FORMER HEAD OF SCHOOL (THRU 6/30/23) 269196 0 31000 0 4094 0 29232 0 8775 0 342297 0 0 0 ERIC NORMAN CFO 255646 0 20000 0 3786 0 18313 0 16697 0 314442 0 0 0 KRISTIN MUMFORD DIRECTOR OF ADMISSIONS/ADVANCEMENT 216064 0 23000 0 738 0 15939 0 34614 0 290355 0 0 0 ANTHONY PISAPIA ASSOC HEAD OF SCHOOL (THRU 7/6/23) 113725 0 20000 0 120490 0 8761 0 21159 0 284135 0 0 0 SARAH BAKER HEAD OF SCHOOL 221275 0 0 0 4920 0 15944 0 20564 0 262703 0 0 0 AMY BICKHART HEAD OF LOWER SCHOOL 116198 0 0 0 1592 0 10025 0 27681 0 155496 0 0 0 PART I, LINE 4A SEVERENCE WAS PAID TO THE FORMER ASSOCIATE HEAD OF SCHOOL DURING 2023 IN THE AMOUNT OF $120,000. HE IS TO BE PAID AN ADDITIONAL $130,000 IN CALENDAR YEAR 2024. ALL $250,000 IS INCLUDED IN COMPENSATION FOR THE FISCAL YEAR ON THE FUNCTIONAL EXPENSES ON PART IX OF FORM 990. 15600 FINANCIAL AID 112275 TUITION REMISSION X 22 206136 HI/LOW DATE OF GIFT X VARIOUS AUCTION ITEMS 26 18202 0 0 0 PART I, COLUMN (B): SECURITIES COUNT REPRESENTS THE NUMBER OF UNIQUE STOCK CONTRIBUTIONS BY A DONOR, THE AUCTION ITEMS COUNT REPRESENTS THE NUMBER OF DONATIONS OF ITEMS BY AN INDIVIDUAL DONOR. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED AND APPROVED BY THE HEAD OF SCHOOL AND THE AUDIT COMMITTEE. PRIOR TO FILING, THE FINAL VERSION OF THE FORM 990 IS MADE AVAILABLE TO THE BOARD OF TRUSTEES FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES ARE REQUIRED ANNUALLY TO SIGN CONFLICT OF INTEREST STATEMENTS AND DISCLOSE ANY KNOWN OR POTENTIAL CONFLICTS OF INTEREST IN THESE STATEMENTS AND AS THEY ARISE THROUGHOUT THE YEAR. FORM 990, PART VI, SECTION B, LINE 15 EACH YEAR, THE COMPENSATION COMMITTEE OF THE BOARD CONDUCTS A BENCHMARK ANALYSIS TO EVALUATE ALL COMPONENTS OF THE HEAD OF SCHOOL'S COMPENSATION PACKAGE, INCLUDING BASE SALARY, SCHOOL-WIDE BENEFITS, DEFERRED COMPENSATION, OTHER COMPENSATION, HOUSING, REMISSION, AND VEHICLE USAGE. THE BENCHMARK GROUP INCLUDES TOWER HILL SCHOOL AND OTHER SIMILARLY-SITUATED SCHOOLS IN THE US. THE COMPENSATION COMMITTEE DOCUMENTS THE MEETING, INCLUDING A FULL LIST OF THOSE PRESENT AND THEIR INDEPENDENCE, AND THE PROCESS USED TO CONDUCT THEIR REVIEW. THE COMMITTEE THEN PRESENTS THEIR RECOMMENDATION TO THE FULL BOARD FOR REVIEW. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND FORM 990 ARE HELD WITH THE SCHOOL AND MAY BE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE OF VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUSTS 355,826. FORM 990, PART XII, LINE 2C THE AUDIT COMMITTEE IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANT. THIS PROCESS REMAINS UNCHANGED FROM THE PRIOR YEAR.