2022-05-03T13:25:03-05:00 2021-06-30 871353108 EISNER ADVISORY GROUP LLC 130 NORTH 18TH STREET SUITE 3000 PHILADELPHIA PA 191032757 990 2020-07-01 510065745 TOWER HILL SCHOOL ASSOCIATION TOWE 3026578360 2813 WEST 17TH STREET WILMINGTON DE 19806 ELIZABETH C SPEERS HEAD OF SCHOOL 3026578360 2022-05-03 1 ELIZABETH SPEERS 999009999 HELEN M MARTIN P01330899 2158818800 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z ELIZABETH C SPEERS 2813 WEST 17TH STREET WILMINGTON DE 19806 58155251 0 X WWW.TOWERHILL.ORG X 1919 DE TOWER HILL SCHOOL IS A CO-EDUCATIONAL SCHOOL FOR STUDENTS 3 YEARS OLD THROUGH GRADE 12. 20 20 248 142 0 0 4677521 11453772 23237557 24201408 1215156 12995018 200757 164618 29330991 48814816 5178216 5607023 0 0 15260400 15071915 0 0 931577 6735343 7117309 27173959 27796247 2157032 21018569 91556588 112683577 18028275 16400356 73528313 96283221 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 22215796 5607023 24366026 EDUCATIONAL PROGRAMS - TOWER HILL IS A CO-EDUCATIONAL INDEPENDENT SCHOOL WITH 815 STUDENTS FROM 3 YEARS OLD THROUGH GRADE 12 IN 2020-2021 (240 LOWER SCHOOL, 250 MIDDLE SCHOOL, 325 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 75 STUDENTS IN THE CLASS OF 2021. MEMBERS OF THIS CLASS ARE ATTENDING AMERICAN UNIVERSITY, BELMONT UNIVERSITY, BOSTON COLLEGE, CABRINI UNIVERSITY, CARNEGIE MELLON UNIVERSITY, CASE WESTERN RESERVE UNIVERSITY, DELAWARE STATE UNIVERSITY, DUKE UNIVERSITY, EMORY UNIVERSITY, FLORIDA STATE UNIVERSITY, FRANKLIN & MARSHALL COLLEGE, GEORGE WASHINGTON UNIVERSITY, GEORGETOWN UNIVERSITY, IMMACULATA UNIVERSITY, ITHACA COLLEGE, JOHNS HOPKINS UNIVERSITY, LEHIGH UNIVERSITY, LYNN UNIVERSITY, MARYLAND INSTITUTE COLLEGE OF ART, NEW YORK UNIVERSITY (TISCH SCHOOL OF THE ARTS), NORTHWESTERN UNIVERSITY, OBERLIN COLLEGE, OCCIDENTAL COLLEGE, PARSON'S SCHOOL OF DESIGN, PENNSYLVANIA STATE UNIVERSITY, PRINCETON UNIVERSITY, ROWAN UNIVERSITY, SACRED HEART UNIVERSITY, SOUTHERN METHODIST UNIVERSITY, ST. LAWRENCE UNIVERSITY, THE UNIVERSITY OF TEXAS AT AUSTIN, TULANE UNIVERSITY OF LOUISIANA, UNITED STATES COAST GUARD ACADEMY, UNITED STATES MILITARY ACADEMY, UNIVERSITY OF CALIFORNIA-LOS ANGELES, UNIVERSITY COLORADO-BOULDER, UNIVERSITY OF DELAWARE, UNIVERSITY OF MARYLAND-COLLEGE PARK, UNIVERSITY OF MIAMI, UNIVERSITY OF MISSISSIPPI, UNIVERSITY OF PENNSYLVANIA, UNIVERSITY OF PITTSBURGH, UNIVERSITY OF RICHMOND, UNIVERSITY OF SOUTH CAROLINA, UNIVERSITY OF ST. ANDREWS, UNIVERSITY OF VIRGINIA, VILLANOVA UNIVERSITY, VIRGINIA POLYTECHNIC INSTITUTE AND STATE UNIVERSITY, WAKE FOREST UNIVERSITY, WASHINGTON UNIVERSITY IN ST. LOUIS, WASHINGTON AND LEE UNIVERSITY, WEBSTER UNIVERSITY, AMONG OTHERS. 232001 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. 155987 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. 22603784 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 46 0 1 248 1 0 1 CJ UK 0 0 0 0 0 0 0 0 0 0 X 20 20 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 DR ERIC JOHNSON CHAIR 2.00 X X 0 0 0 BEN DU PONT VICE 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 W WHITFIELD GARDNER 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 KEN SIMPLER TRUSTEE 2.00 X 0 0 0 ISBELLA 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 ELIZABETH SPEERS HEAD OF SCHOOL 40.00 X 476773 0 66078 ERIC NORMAN CFO 40.00 X 205600 0 34634 ANTHONY PISAPIA ASSOCIATE HEAD OF SCHOOL 40.00 X 202099 0 35876 KRISTIN MUMFORD DIRECTOR OF ADMISSIONS/ADV 40.00 X 187940 0 34301 SETH KUSHKIN DIRECTOR OF ATHLETICS 40.00 X 143407 0 31881 SUSAN MILLER LOWER SCHOOL HEAD 40.00 X 130036 0 23856 AUTHUR HALL ASSISTANT HEAD OF SCHOOL 40.00 X 125260 0 22979 1471115 0 249605 12 0 1 0 WHITING-TURNER CONTRACTING COMPANY 300 E JOPPA RD BALTIMORE MD 21286 CONSTRUCTION 1695706 SAGE DINING SERVICES INC 1402 YORK ROAD LUTHERVILLE MD 21093 FOOD SERVICE 430938 CULINART GROUP PO BOX 417632 BOSTON MA 022417632 FOOD SERVICE 322615 FIRST CHOICE CLEANING SERVICES 1722 NEWPORT GAP PIKE WILMINGTON DE 19808 CLEANING SERVICE 296379 WILCOX LANDSCAPING PO BOX 629 NEWPORT DE 19720 LANDSCAPING SERVICES & SNOW REMOVAL 291765 7 2710102 8743670 99130 11453772 TUITION 611110 23801400 23801400 AFTER SCHOOL PROGRAM FEES 611110 397808 397808 FACILITIES RENTALS 611110 2200 2200 24201408 2065903 2065903 20269550 9340435 10929115 10929115 10929115 ANCILLARY INCOME 611110 164618 164618 164618 48814816 24366026 0 12995018 5607023 5607023 792229 792229 11153399 8657187 1899963 596249 713067 599810 82098 31159 1628756 1201792 335232 91732 784464 604037 149048 31379 84039 84039 281053 281053 1164156 1075188 62699 26269 107970 4477 24794 78699 582880 560028 21745 1107 1818138 1746886 67798 3454 169956 145219 23678 1059 254791 244806 9501 484 1583323 1514877 65450 2996 SUPPLIES AND MATERIALS 521650 442907 42104 36639 FEES AND MISCELLANEOUS 454842 135459 303472 15911 EVENTS 94511 64088 15983 14440 27796247 22603784 4260886 931577 11207035 11599790 3595296 3421343 735245 320593 125265 260505 71954660 36191715 33341777 35762945 23581339 34905275 16123352 22806683 2847279 3606443 91556588 112683577 642334 1068222 5485223 6330128 11900718 9002006 18028275 16400356 X 38692641 44697911 34835672 51585310 73528313 96283221 91556588 112683577 21018569 1736339 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 35538321 6108435 13797389 805903 911391 53726851 36846549 437137 -103365 592542 1049458 35538321 36617927 25000 1764142 566751 993769 36846549 32752786 1417741 3861581 458377 955804 36617927 29317648 130735 4223508 870615 499385 32752786 0.25180 0.52620 0.22200 0 0 3247658 3247658 55453301 24645247 30808054 9389193 8433904 955289 3485755 3112564 373191 378753 378753 35762945 LOW VOLUME HEDGE FUNDS 3309977 F GROWTH HEDGE FUNDS 8466531 F PRIVATE EQUITY FUNDS 9824162 F PRIVATE REAL ESTATE FUNDS 1206013 F 22806683 X 21849902 0 21849902 26964914 26964914 48814816 22189224 0 22189224 5607023 5607023 27796247 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, 2021 AND 2020, 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, 2021 OR 2020. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE, REMISSION AND MERIT-BASED AWARDS 5,607,023. RESTRICTED CONTRIBUTIONS 6,968,152. INVESTMENT INCOME, NET OF BOARD DESIGNATED APPROPRIATIONS 11,679,637. PPP LOAN FORGIVENESS 2,710,102. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE, REMISSION AND MERIT-BASED AWARDS 5,607,023. 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. CARIBBEAN 0 0 INVESTMENTS 6753626 SCOTLAND 0 0 INVESTMENTS 269633 0 0 0 0 0 0 7023259 0 7023259 0 0 0 0 0 0 PART III ACCOUNTING METHOD: 1 FINANCIAL ASSISTANCE, TUITION REMISSION AND MERIT-BASED AWARDS 474 5607023 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 0 1 0 0 0 0 0 0 0 ELIZABETH SPEERS HEAD OF SCHOOL 476773 0 0 0 0 0 44400 0 21678 0 542851 0 0 0 ERIC NORMAN CFO 200600 0 5000 0 0 0 14298 0 20336 0 240234 0 0 0 ANTHONY PISAPIA ASSOCIATE HEAD OF SCHOOL 199599 0 2500 0 0 0 13972 0 21904 0 237975 0 0 0 KRISTIN MUMFORD DIRECTOR OF ADMISSIONS/ADV 178940 0 5000 0 4000 0 12526 0 21775 0 222241 0 0 0 SETH KUSHKIN DIRECTOR OF ATHLETICS 142407 0 0 0 1000 0 9969 0 21912 0 175288 0 0 0 SUSAN MILLER LOWER SCHOOL HEAD 130036 0 0 0 0 0 9279 0 14577 0 153892 0 0 0 PART I, LINE 4B THE SCHOOL ESTABLISHED A NON-QUALIFIED RETIREMENT PLAN UNDER INTERNAL REVENUE CODE SECTION 457(B) AS A BENEFIT FOR ITS HEAD OF SCHOOL. THE SCHOOL CONTRIBUTED $18,000 TO THIS PLAN DURING THE FISCAL YEAR. 58800 FINANCIAL AID 396450 TUITION REMISSION X 17 94430 HI/LOW DATE OF GIFT X MISCELLANEOUS ITEMS 20 4700 0 0 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS ON LINE 9 COLUMN (B) REPRESENTS THE NUMBER OF DONORS WHO CONTRIBUTED STOCK DURING THE YEAR. LINE 25 COL B REPRESENTS THE NUMBER OF DONORS WHO CONTRIBUTED VARIOUS ITEMS FOR H&S ASSOCIATION FACULTY APPRECIATION EVENT. 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 DRAFT 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, EXCESS REMISSION, AND VEHICLE USAGE. THE BENCHMARK GROUP INCLUDES TOWER HILL SCHOOL AND 38 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 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.