2022-05-16T10:13:38-05:00 2021-06-30 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 02129 990 2020-07-01 042104832 THE PIKE SCHOOL INC PIKE 9784751197 34 SUNSET ROCK ROAD ANDOVER MA 018104898 WILLIAM POWERS DIR. OF FINANCE & OPERATIONS 9784751197 2022-05-16 1 WILLIAM POWERS 999009999 LYNNE JOHNSON P00757336 6179129000 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z ASHLEY MARSHALL 34 SUNSET ROCK ROAD ANDOVER MA 018104898 18239881 0 X WWW.PIKESCHOOL.ORG X 1926 MA THE PIKE SCHOOL IS A PK-9 PRIVATE SCHOOL OF APPROXIMATELY 448 STUDENTS. THE PIKE SCHOOL SEEKS TO DEVELOP WITHIN ITS COMMUNITY A LIFE LONG LOVE OF LEARNING, RESPECT FOR OTHERS, JOY OF PHYSICAL ACTIVITY, AND A CREATIVE SPIRIT. 22 22 124 30 0 0 259905 2489235 14519730 14789434 392651 903294 -2163 48927 15170123 18230890 2084745 1641622 0 0 9620524 9943673 0 0 576583 3776362 4119063 15481631 15704358 -311508 2526532 29954502 31746911 8301180 5475352 21653322 26271559 X THE PIKE SCHOOL SEEKS TO DEVELOP WITHIN ITS COMMUNITY A LIFE LONG LOVE OF LEARNING, RESPECT FOR OTHERS, JOY OF PHYSICAL ACTIVITY, AND A CREATIVE SPIRIT. A PIKE EDUCATION IS A JOURNEY THAT PREPARES STUDENTS TO BE INDEPENDENT LEARNERS AND RESPONSIBLE CITIZENS. 0 0 11885470 1641622 14811676 EDUCATIONAL INSTITUTION WHICH PROVIDES INTELLECTUAL AND PERSONAL GROWTH EMPHASIZING FUNDAMENTAL SKILLS WITHIN A BROAD RANGE OF DISCIPLINES. EACH STUDENT PROGRESSED TO THE NEXT GRADE WITH 75 STUDENTS MOVING UP TO HIGH SCHOOL AND SECONDARY SCHOOLS. 448 STUDENTS ARE ENROLLED IN THE SCHOOL YEAR 2020-2021. SCHOOL YEARS RUNS 180 DAYS.LOWER SCHOOL:VIEWED AS YEARS OF EXPLORATIONS AND BEGINNINGS, THE LOWER SCHOOL IS A STRUCTURED YET RELAXED ENVIRONMENT WHERE CHILDREN ARE AFFORDED THE OPPORTUNITY TO DEVELOP SOCIALLY, EMOTIONALLY, PHYSICALLY, AND INTELLECTUALLY. THROUGH SMALL GROUPS AND INDIVIDUAL ATTENTION, LEARNING IS BOTH INTERACTIVE AND STIMULATING. FOR MUCH OF THE DAY, THE CHILDREN ARE IMMERSED IN THEME BASED LEARNING WHERE TOPICS ARE COVERED ACROSS SUBJECT AREAS. BECAUSE MUCH OF THE CURRICULUM IS INTERDISCIPLINARY, THE CLASSROOM TEACHERS CAREFULLY PLAN THEIR ACTIVITIES WITH THE SPECIALISTS TO ENSURE CONTINUITY. FIELD TRIPS, PERFORMANCES AND WORKSHOPS BY ARTISTS IN RESIDENCE, DANCE AND THEATRE GROUPS AND MUSICIANS ADD FURTHER ENRICHMENT TO THE LOWER SCHOOL PROGRAM.MIDDLE SCHOOL:AT EACH GRADE IN THE MIDDLE SCHOOL, ANCHOR TEACHERS AND SPECIALISTS WORK COLLABORATIVELY TO DESIGN CURRICULUM FOCUSED ON OVERARCHING QUESTIONS THAT TARGET KEY CONCEPTS AND SKILLS. IN ALL GRADES STUDENTS ENGAGE IN LEARNING THAT IS BOTH MEANINGFUL TO THEIR OWN LIVES AND CONNECTED ACROSS SUBJECT AREAS. THROUGH A WIDE RANGE OF TOPICS, STUDENTS BUILD ACADEMIC AND SOCIAL SKILLS THAT REQUIRE CRITICAL THINKING AND COOPERATION.UPPER SCHOOL:THE UPPER SCHOOL OFFERS A RICH AND COMPREHENSIVE PROGRAM THAT PROVIDES STUDENTS WITH THE NECESSARY KNOWLEDGE AND SKILLS TO THRIVE IN LEADING SECONDARY SCHOOLS AND BEYOND. TEACHERS EMPHASIZE CHARACTER GROWTH AND CREATIVITY THROUGH SMALL GROUP ACTIVITIES. THROUGHOUT THE STUDENTS' EXPERIENCE, THEY ARE PROVIDED WITH VALUABLE CHALLENGES IN DECISION MAKING AND COLLABORATION. THE CHIEF ACADEMIC, SOCIAL, AND PERSONAL DEVELOPMENT OF THE STUDENTS IS GUIDED BY A FACULTY ADVISOR WHO WORKS CLOSELY WITH STUDENTS AND THEIR FAMILIES. 891873 26685 AUXILIARY ACTIVITIES: AFTER SCHOOL SPORTS PROGRAMS FOR SIXTH GRADE THROUGH NINTH GRADE STUDENTS. AFTER SCHOOL FLEX PROGRAM AND SUMMER PROGRAM FOR CHILDREN IN THE LOCAL COMMUNITIES. 12777343 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 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 28 0 1 124 1 0 0 0 0 0 0 0 0 0 0 1 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X WILLIAM POWERS 9784751197 34 SUNSET ROCK ROAD ANDOVER MA 018104898 WILL ABISALIH BOARD MEMBER 2.00 X 0 0 0 STEVE ANDREWS BOARD MEMBER 2.00 X 0 0 0 EDMUND AZIABOR BOARD MEMBER 2.00 X 0 0 0 SAL BELLIA BOARD MEMBER 2.00 X 0 0 0 MENGMENG BAO BOARD MEMBER 2.00 X 0 0 0 HENRY CALDERON BOARD MEMBER 2.00 X 0 0 0 ELIZABETH CIERI BOARD MEMBER 2.00 X 0 0 0 BOBBIE CRUMP-BURBANK BOARD MEMBER 2.00 X 0 0 0 KENNETH FRANCOMANO BOARD MEMBER 2.00 X 0 0 0 EMMA HENDRICKSON BOARD MEMBER 2.00 X 0 0 0 MONIQUE JOHNSON BOARD MEMBER 2.00 X 0 0 0 MEGAN KRISTIANSEN BOARD MEMBER 2.00 X 0 0 0 ALEX MATSES BOARD MEMBER 2.00 X 0 0 0 CARRIE SMOTRICH BOARD MEMBER 2.00 X 0 0 0 WILL SONG BOARD MEMBER 2.00 X 0 0 0 JEANNIE SULLIVAN BOARD MEMBER 2.00 X 0 0 0 PETER WEISSMAN BOARD MEMBER 2.00 X 0 0 0 EMMA WU BOARD MEMBER 2.00 X 0 0 0 MEERIE JOUNG CHAIR 2.00 X X 0 0 0 TASNEEM DOHADWALA VICE-CHAIR 2.00 X X 0 0 0 MARK NICHOLS TREASURER 2.00 X X 0 0 0 HEATHER CLARK SECRETARY 2.00 X X 0 0 0 ASHLEY MARSHALL WARNOCK HEAD OF SCHOOL 60.00 X 133516 0 76679 WILLIAM POWERS DIRECTOR OF FINANCE & OPERATIONS 60.00 X 199847 0 7679 ROD BOYER DIRECTOR OF ADVANCEMENT 60.00 X 159547 0 30256 MICHAEL EATMAN COMMUNITY LIFE DIRECTOR 60.00 X 142639 0 28319 MARYBETH HEYD DIRECTOR OF LOWER SCHOOL 60.00 X 151787 0 18316 AARON HOVEL DIRECTOR OF TECHNOLOGY 60.00 X 134579 0 28063 KATHARINE MORAN DIRECTOR OF EXTERNAL AFFAIRS 60.00 X 147077 0 5651 JOHN WATERS FORMER HEAD OF SCHOOL 0.00 X 1448087 0 23700 2517079 0 218663 14 1 1 0 FLIK 2 INTERNATIONAL DR RYE BROOK NY 10573 FOOD SERVICES 228988 COMPASS FACILITY SERVICES 65 JACKMAN STREET GEORGETOWN MA 01833 CLEANING SERVICES 216453 PEABODY OFFICE 234 CONGRESS STREET BOSTON MA 02110 INTERIOR DESIGN 128469 3 1710985 778250 30559 2489235 STUDENT TUITION & FEES 611710 14762749 14762749 SUMMER & AUXILIARY SERVICES 900099 26685 26685 14789434 170269 170269 742016 8991 733025 733025 733025 MISCELLANEOUS INCOME 900099 48927 48927 48927 18230890 14838361 0 903294 1641622 1641622 522251 418381 78196 25674 8071724 6496997 1185387 389340 750580 595630 112122 42828 599118 475436 89497 34185 51283 51283 73400 73400 25000 25000 220441 220328 113 164393 26179 80712 57502 150129 53574 88952 7603 142537 134459 7296 782 1053254 1028568 22297 2389 114031 111359 2396 276 826009 806649 17486 1874 PROGRAM EXPENSES 783205 745559 36651 995 DUES AND SUBSCRIPTIONS 154275 60269 83533 10473 FOOD SERVICES 86272 80436 5836 PROFESSIONAL DEVELOPMEN 50099 36023 11527 2549 224735 66202 158533 15704358 12777343 2350432 576583 34307 34307 2657549 2042935 1045216 397561 503135 448392 128206 79206 27532474 13473425 14108451 14059049 11477638 14685461 29954502 31746911 2233285 1037087 1130238 1162256 2190572 2005109 500000 300000 2247085 970900 8301180 5475352 X 17244744 21800407 4408578 4471152 21653322 26271559 29954502 31746911 X 2526532 2306224 -214519 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12307341 536708 3207280 742000 15309329 12231463 298421 -222543 12307341 12532678 513470 344452 1159137 12231463 10819697 1365657 727324 380000 12532678 9611280 484072 1089101 364756 10819697 0.73391 0.19622 0.06987 0 0 138886 138886 22761112 9846816 12914296 2988380 2419493 568887 1644096 1207116 436980 14059049 TUITION DEPOSITS 970900 970900 X 18680973 2306224 -1856141 450083 18230890 0 18230890 14062736 0 14062736 1641622 1641622 15704358 PART V, LINE 4: THE SCHOOL'S ENDOWMENT FUNDS ARE A PERPETUAL SOURCE OF FUNDING. THE ENDOWMENT FUNDS SUPPORT THE SCHOOL'S GENERAL OPERATIONS, INCLUDING THE PROFESSIONAL DEVELOPMENT OF FACULTY AND STAFF AS WELL AS FINANCIAL AID FOR STUDENTS. PART X, LINE 2: THE SCHOOL FOLLOWS THE ASC 740, INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES BY PRESCRIBING THE RECOGNITION THRESHOLD A TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. MANAGEMENT BELIEVES THAT THE SCHOOL HAS NO MATERIAL UNCERTAINTIES IN INCOME TAXES. WITH FEW EXCEPTIONS, THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR FISCAL YEARS BEFORE 2018. THE SCHOOL WILL ACCOUNT FOR INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, AS PART OF TAX EXPENSE. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH TUITION REVENUE ON AUDITED FINANCIAL STATEMENTS -1,641,622. UNCOLLECTIBLE CONTRIBUTIONS -214,519. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH TUITION REVENUE ON AUDITED FINANCIAL STATEMENTS 1,641,622. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ALL PUBLICATIONS REFER TO THE SCHOOL'S NONDISCRIMINATORY POLICY INCLUDING THE VIEWBOOK, THE PARENT'S HANDBOOK AND THE PARENT'S DIRECTORY. SCHEDULE E, PART I, LINE 6 ON APRIL 23, 2020, THE SCHOOL RECEIVED LOAN PROCEEDS IN THE AMOUNT OF $1,710,985 UNDER THE SMALL BUSINESS ADMINISTRATION'S (SBA'S) PAYCHECK PROTECTION PROGRAM (PPP). THE SCHOOL DETERMINED THEY MET THE ELIGIBILITY REQUIREMENTS OF THE PPP AS ESTABLISHED AS PART OF THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (CARES ACT), WHICH PROVIDES LOANS TO QUALIFYING BUSINESSES FOR AMOUNTS UP TO 2.5 TIMES THE AVERAGE MONTHLY PAYROLL EXPENSES OF THE QUALIFYING BUSINESS. THE LOANS AND ACCRUED INTEREST ARE FORGIVABLE AS LONG AS THE BORROWER USES THE LOAN PROCEEDS FOR ELIGIBLE PURPOSES, INCLUDING PAYROLL, BENEFITS, RENT AND UTILITIES, AND MAINTAINS ITS PAYROLL LEVELS. UPON BEING NOTIFIED OF ITS LEGAL RELEASE FROM THE LOAN ON JUNE 14, 2021 (I.E., FULL FORGIVENESS), THE SCHOOL RECOGNIZED A GAIN ON EXTINGUISHMENT OF DEBT EQUAL TO THE FULL AMOUNT OF THE LOAN PROCEEDS FOR THE YEAR ENDED JUNE 30, 2021. 1 FINANCIAL AID 78 1641622 PART I, LINE 2: THE ORGANIZATION USES SSS THROUGH NAIS TO HELP DETERMINE THE AWARD ALONG WITH FAMILIES' W-2S AND 1040'S. A COMMITTEE OF FOUR ADMINISTRATORS REVIEWS AND CONFIRMS THE AWARDS. THE AWARD AMOUNT IS MONITORED THROUGH MONTHLY GL RECONCILIATION. X 1 0 X X X X X 0 1 0 0 0 0 0 0 0 JOHN WATERS FORMER HEAD OF SCHOOL 185693 0 0 0 1262394 0 14539 0 9161 0 1471787 0 810000 0 ASHLEY MARSHALL WARNOCK HEAD OF SCHOOL 133516 0 0 0 0 0 0 0 76679 0 210195 0 0 0 WILLIAM POWERS DIRECTOR OF FINANCE & OPERATIONS 199847 0 0 0 0 0 7679 0 0 0 207526 0 0 0 ROD BOYER DIRECTOR OF ADVANCEMENT 159547 0 0 0 0 0 6387 0 23869 0 189803 0 0 0 MICHAEL EATMAN COMMUNITY LIFE DIRECTOR 142639 0 0 0 0 0 5638 0 22681 0 170958 0 0 0 MARYBETH HEYD DIRECTOR OF LOWER SCHOOL 151787 0 0 0 0 0 5431 0 12885 0 170103 0 0 0 AARON HOVEL DIRECTOR OF TECHNOLOGY 134579 0 0 0 0 0 5382 0 22681 0 162642 0 0 0 KATHARINE MORAN DIRECTOR OF EXTERNAL AFFAIRS 147077 0 0 0 0 0 5651 0 0 0 152728 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL IS PROVIDED HOUSING BY THE SCHOOL. THE ESTIMATED VALUE OF THIS BENEFIT WAS $63,000 DURING THE YEAR WHICH IS INCLUDED IN THE ESTIMATE OF OTHER COMPENSATION REPORTED IN THE FORM 990, PART VII, COLUMN F AND NONTAXABLE BENEFITS REPORTED IN PART II, COLUMN D OF SCHEDULE J. PART I, LINE 4B THE SCHOOL ENTERED INTO A DEFERRED COMPENSATION AGREEMENT WITH THE SCHOOL'S PREVIOUS HEAD OF SCHOOL (PREVIOUS AGREEMENT) TO BE ACCRUED IN FIVE EQUAL YEARLY INSTALLMENTS OF $20,000 STARTING IN 2005 (AMENDED TO $50,000 ANNUALLY IN 2008). IN 2011, 2017 AND 2018, THE SCHOOL EXTENDED ITS PREVIOUS AGREEMENT WITH THE HEAD OF SCHOOL THROUGH JUNE 30, 2020, CONTINUING WITH $50,000 ANNUAL INSTALLMENTS. INTEREST WAS CREDITED AT THE 5-YEAR TREASURY RATE AT EACH INSTALLMENT PERIOD. THE 2017 AND 2018 EXTENSIONS PROVIDED FOR THE ADDITIONAL ACCRUAL OF FOUR EQUAL YEARLY INSTALLMENTS TOTALING $372,786. TOTAL DEFERRED COMPENSATION DUE TO THE PREVIOUS HEAD OF SCHOOL AS OF JUNE 30, 2020 WAS $1,309,967. THE SCHOOL HAD PURCHASED AN ANNUITY CONTRACT TO FUND THE DEFERRED COMPENSATION PAYOUT. AS OF JUNE 30, 2020, THE ANNUITY WAS VALUED AT $834,861. AS OF JUNE 30, 2020, THE UNFUNDED PORTION OF DEFERRED COMPENSATION AMOUNTED TO $475,106. DURING THE YEAR ENDED JUNE 30, 2021, THE SCHOOL SATISFIED THE DEFERRED COMPENSATION OBLIGATION BY TRANSFERRING THE ANNUITY AND MAKING ADDITIONAL CASH PAYMENTS TO THE PREVIOUS HEAD OF SCHOOL IN ACCORDANCE WITH THE PREVIOUS AGREEMENT. THE SCHOOL ENTERED INTO A DEFERRED COMPENSATION AGREEMENT WITH THE SCHOOL'S NEW HEAD OF SCHOOL (CURRENT AGREEMENT) TO BE ACCRUED IN THREE EQUAL YEARLY INSTALLMENTS OF $25,000 STARTING IN 2021. STARTING IN 2022, INTEREST IS TO BE CREDITED AT THE 5-YEAR TREASURY RATE AT EACH INSTALLMENT PERIOD. AS OF JUNE 30, 2021, THE UNFUNDED PORTION OF DEFERRED COMPENSATION AMOUNTED TO $25,000. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2013-11-01 3250000 REFUNDING PRIOR 2009 ISSUE 0 0 0 A 1218750 3250000 3250000 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 0 0 0 0 1 A 1 LAURIE HYLTON TRUSTEE TO PURCHASE RESIDENTIAL PROPERTY X 700000 300000 0 1 1 300000 X 4 25559 FMV X CLASSROOM FURNITURE 1 5000 FMV 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS REPRESENTS THE NUMBER OF STOCK GIFTS OR DONATED ITEMS RECEIVED. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY MANAGEMENT AND OUR EXTERNAL AUDITORS AFTER COMPLETION OF THE ANNUAL AUDIT. A DRAFT COPY OF THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE AND THE TREASURER OF THE BOARD. A SUBSEQUENT DRAFT INCORPORATING THEIR COMMENTS IS PREPARED AND DISTRIBUTED TO THE FULL BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C AT THE BEGINNING OF EACH YEAR THE BOARD MEMBERS ARE ASKED TO FILL OUT CONFLICT OF INTEREST FORMS STATING THAT THEY UNDERSTAND AND WILL COMPLY TO THE POLICY. WE HAVE SET UP A WHISTLE BLOWER POLICY FOR ANY MEMBER OF THE SCHOOL INCLUDING THE BOARD TO INFORM US IF THERE ARE ANY QUESTIONS OR CONCERNS THAT COME UP. FORM 990, PART VI, SECTION B, LINE 15 THE HEAD OF SCHOOL'S CONTRACT IS NEGOTIATED USING BENCHMARKING DATA FROM SIMILAR SCHOOLS. THEY BENCHMARK SALARY, BENEFITS AND WORK LOAD. THEY ALSO GET LEGAL ADVICE ON THE WORDING OF THE CONTRACT. THE BOARD VOTES ON THE HEAD OF SCHOOL'S CONTRACT. OTHER SENIOR MANAGEMENT GET AN INCREASE AT THE SAME RATE AS THE FACULTY AND STAFF. THESE INCREASES ARE VOTED ON BY THE BOARD AND AGAIN BASED ON BENCHMARKING DATA. ALL DISCUSSIONS AND VOTES ARE DOCUMENTED IN THE MINUTES TO THE MEETINGS. 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 FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). IN ADDITION, THE FORM 990 WITHOUT SCHEDULE B IS AVAILABLE TO THE PUBLIC VIA GUIDESTAR AND THE MASSACHUSETTS OFFICE OF ATTORNEY GENERAL'S WEBSITE. FORM 990, PART XI, LINE 9: UNCOLLECTIBLE CONTRIBUTIONS -214,519.