2021-02-12T11:02:16-07:00 2020-06-30 990 2019-07-01 042103870 BELMONT HILL SCHOOL INC BELM 6174844410 350 Prospect Street Belmont MA 024782662 Jay Bounty Assistant Treasurer 6179935313 2021-02-12 2019 2022-09-23 18:48:47Z Jay Bounty 350 Prospect Street Belmont MA 02478 51165502 0 X www.belmonthill.org X 1923 MA Belmont Hill School educates boys in mind, body, and spirit to develop men of good character. Our community encourages and challenges students to discover and pursue passions, seek excellence and face adversity with resilience. We cultivate critical thinking and creativity, teamwork and competition, hard work and reflections, tradition and innovation. Valuing our differences and working together, we embrace camaraderie, compassion, and service to others. Our school strives to instill in each boy ethical judgment, a sense of common humanity, and lifelong love of learning. 35 34 271 300 -302203 0 19848525 9263335 22831329 24114198 6609204 2068534 -398957 -584807 48890101 34861260 6118155 5486981 0 0 15613813 15838922 0 0 1897948 10961179 10457973 32693147 31783876 16196954 3077384 203571258 203315618 47857342 43970923 155713916 159344695 Belmont Hill School educates boys in mind, body, and spirit to develop men of good character. Our community encourages and challenges students to discover and pursue passions, seek excellence and face adversity with resilience. We cultivate critical thinking and creativity, teamwork and competition, hard work and reflections, tradition and innovation. Valuing our differences and working together, we embrace camaraderie, compassion, and service to others. Our school strives to instill in each boy ethical judgment, a sense of common humanity, and lifelong love of learning. 0 0 23821396 5450259 25659935 Educational institutions and related activities: Belmont Hill School's mission is to educate boys in mind, body, and spirit. Our environment of both challenge and support emphasizes strong moral values, honest effort, and responsibility for oneself and community. Valuing difference, Belmont Hill welcomes students from a broad range of backgrounds and experiences. Through shared commitment to the classroom, playing field, studio, and stage, students and teachers forge special bonds. Respecting tradition yet alive to innovation, our structured and rigorous program provides students with clear expectations and consistent encouragement, a framework for growth that honors creativity, teamwork, and competition. Belmont Hill helps students to develop clear thinking and lifelong love of learning; to become sensitive and responsive to the complexities of modern society; to gain the skills, values, and courage to face the future with confidence; to embrace, both now and in later life, a spirit of working together to better the world. Belmont Hill School gives its students a strong, traditionally defined education, in a balanced, well rounded environment. The value of its core curriculum seems to have increased with time. The school's insistence on this traditional framework of excellence, in many ways simple and straightforward, gives the curriculum distinction, and continues to be its first principle in planning for the future. 574824 36722 893252 Educational institutions and related activities: Educated 550 boys and girls, ages 8 to 18, in a 6 week comprehensive and rigorous summer school. Students take courses for remediation, for enrichment, and for academic credit here and at other schools. Instructional program for another 601 boys and girls, ages 6 to 14, in athletic skills camps and art workshops, one to three weeks in length with emphasis on instruction and skill development. 0 0 0 24396220 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 90 0 1 271 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 X 35 34 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X Jay Bounty - Assistant Treasurer 6179935313 350 Prospect Street Belmont MA 024782662 Gregory Schneider Secretary Head of School 50 0 X X 445700 0 163247 Beverly Couglin Director of Development 50 0 X 335784 0 43140 Jay Bounty Assistant Treasurer CFO and Director of Operations 50 0 X 301642 0 44096 Lauren Hamilton Director of Middle School 50 0 X 137322 0 105160 Jay Fritz Director of Major and Planned Gifts 50 0 X 159199 0 65172 Donald Bradley Head of Upper School 50 0 X 158001 0 47427 Michael Grant Assistant Head of School 50 0 X 134371 0 44185 Jeffrey Fast Faculty 50 0 X 143848 0 33681 Jinane Abounadi Trustee 1 0 X 0 0 0 Dewey Awad Trustee 1 0 X 0 0 0 Mark Chandler Trustee 1 0 X 0 0 0 Gretchen Cook-Anderson Trustee 1 0 X 0 0 0 Roy Coppedge III Trustee 1 0 X 0 0 0 Warren Cross Trustee 1 0 X 0 0 0 Carl Dawson Trustee 1 0 X 0 0 0 Jeffrey Drucker Trustee 1 0 X 0 0 0 Ronald Druker Trustee 1 0 X 0 0 0 Jean Egan Trustee 1 0 X 0 0 0 William Forde Trustee 1 0 X 0 0 0 Scott Giselman Trustee 1 0 X 0 0 0 John Grady Trustee 1 0 X 0 0 0 Christopher Hadley Trustee 1 0 X 0 0 0 Danielle Heard Trustee 1 0 X 0 0 0 Jason Hurd Trustee 1 0 X 0 0 0 Gerald Jordan Trustee 1 0 X 0 0 0 Stephen Karp Trustee 1 0 X 0 0 0 Jonathan Kraft Trustee 1 0 X 0 0 0 George Lynch Trustee 1 0 X 0 0 0 Emmet Lyne Trustee 1 0 X 0 0 0 Amy Madden Trustee 1 0 X 0 0 0 Carl Martignetti Trustee 1 0 X 0 0 0 Kirk McKeown Trustee 1 0 X 0 0 0 Sarah Pelmas Trustee 1 0 X 0 0 0 Taggart Romney Trustee 1 0 X 0 0 0 Jill Shah Trustee 1 0 X 0 0 0 Brian Shortsleeve Trustee 1 0 X 0 0 0 Margaret Wade Trustee 1 0 X 0 0 0 Herbert Wagner Trustee 1 0 X 0 0 0 David Wilkins Trustee 1 0 X 0 0 0 Jon Biotti President 1 0 X X 0 0 0 William Achtmeyer Vice President 1 0 X X 0 0 0 Anthony Ryan Treasurer 1 0 X X 0 0 0 1815867 0 546108 26 0 1 0 Windover Construction 66 Cherry Hill Drive Suite 2 Beverly MA 01915 Construction Services 5375742 Sodexo Inc and Affiliates PO Box 360170 Pittsburgh PA 15262 Food Services 657291 Compass Facility Services 65 Jackman Street Georgetown MA 01833 Custodial Services 623890 Bedford Charter Services 11 Railroad Avenue Bedford MA 01730 Transportation Services 516647 Doug Rancourt 7 Priscilla Street Hopkington MA 01748 Construction Services 305574 23 0 0 156250 0 0 9107085 241701 9263335 Tuition and Fees 900099 23188136 23188136 0 0 Summer Programs 900099 893252 893252 0 0 Student Activities 900099 32810 32810 0 0 0 0 0 0 24114198 423200 511226 -88026 0 0 0 0 0 0 0 0 411463 0 1279139 0 -867676 0 -867676 0 -302643 -565033 16348814 9000 14712480 0 1636334 9000 1645334 1645334 0 0 38065 0 37625 440 440 0 0 0 0 0 0 0 207611 274998 -67387 -67387 0 0 School Bus Transportation 900099 257972 257972 0 0 Program and Parent Alumni 900099 30855 30855 0 0 Insurance Dividends 900099 26852 26852 0 0 34137 34137 0 0 349816 34861260 26553187 -302203 -653059 0 0 5486981 5486981 0 0 0 0 809155 0 809155 0 0 0 0 11013259 7850689 2084256 1078314 936021 691979 182269 61773 2248280 1507014 542298 198968 832207 557825 200733 73649 0 0 0 0 34591 0 34591 0 90100 0 90100 0 0 0 0 0 141908 141908 0 0 899805 667638 190058 42109 64756 16500 48256 0 1019655 673507 238576 107572 555266 201143 300755 53368 1764274 1763827 447 0 189732 142545 19641 27546 0 0 0 0 44094 30522 10889 2683 1267658 1267658 0 0 0 0 0 0 2270536 2270536 0 0 174014 68495 105519 0 Student Food Services 800621 800621 0 0 Entertainment 256444 37979 80698 137767 Postage and Membership 187788 52341 116202 19245 Printing and Publications 278717 68105 155140 55472 418014 98407 280125 39482 31783876 24396220 5489708 1897948 1000 1000 13766507 14044576 9799990 8449780 185894 243001 0 0 0 0 0 0 0 0 454491 798420 94407041 40274823 47190214 54132218 29168547 24139870 102801129 101303267 0 0 0 0 203486 203486 203571258 203315618 2143043 1798754 3334281 2784625 36380018 36387544 6000000 3000000 0 0 0 0 47857342 43970923 X 127229340 132588017 28484576 26756678 155713916 159344695 203571258 203315618 X 3077384 559811 0 0 0 -6416 X 0 1 1 0 X 7116000 7017179 8289183 19848525 9263335 51534222 20288496 21525640 22268659 23467741 24671625 112222161 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 27404496 28542819 30557842 43316266 33934960 163756383 0 0 0 0 0 0 0 0 0 0 0 0 0 0 163756383 390743 252378 406835 407920 423200 1881076 -138660 -158944 -136693 -198807 -302203 -935307 252083 93434 270142 209113 120997 945769 0 0 0 0 0 0 0 0 0 0 0 27656579 28636253 30827984 43525379 34055957 164702152 0.99426 0.99413 0.00574 0.00587 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 131766070 1406451 2210050 0 8567850 0 126814721 125232107 3743469 8154219 0 5363725 0 131766070 117987952 4217662 8117433 0 5090940 0 125232107 106318605 3043188 13316589 0 4690430 0 117987952 109013599 2574421 -944381 0 4325034 0 106318605 0.859 0.141 0 0 0 5872242 0 5872242 69790089 0 27152806 42637283 8822579 0 4221963 4600616 5928249 0 5323417 604832 3993882 0 3576637 417245 54132218 0 0 Limited Partnership and Alternative Investments 101181467 F Real Estate 121800 F 101303267 31377527 559811 0 0 1585345 2145156 29232371 141908 5486981 5628889 34861260 27746748 0 0 0 1591761 1591761 26154987 141908 5486981 5628889 31783876 Schedule D, Part V, Line 4 The endowment supports the educational mission of the school, by providing support for financial aid for students, faculty compensation and continuing education, school programs and facilities, as well as general support for school operations. Schedule D, Part XI, Line 2d Other adjustments are expenses which were netted out of revenue. Special events expense $ 37,625, Cost of goods sold $ 274,997, Rental expenses $ 1,279,139 and the Change in the Value of Split Interest Agreements ($ 6,416). Schedule D, Part XI, Line 4b Other adjustments Financial Aid Grants $ 5,486,981. Schedule D, Part XII, Line 2d Other adjustments are expenses which were netted out of revenue. Special events expense $37,625, Cost of goods sold $274,997, Rental expenses $1,279,139. .. Schedule D, Part XII, Line 4b Other adjustments Financial Aid Grants $5,486,991. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 Belmont Hill School publishes its racially non-discriminatory policy annually in the Boston Globe in conjunction with the other local independent schools. Sawyer Tournament 194315 156250 38065 0 0 1500 29667 0 6458 0 0 194315 156250 38065 0 0 1500 29667 0 6458 37625 440 1 Financial Aid for the school year 126 5450259 0 Determined by need Tuition aid and discounts for Summer Programs recipients. 299 36722 0 Tuition discounts Schedule I, Part I, Line 2 Financial aid is awarded to students on the basis of financial need in an objective and non-discriminatory manner. To be considered for a financial aid grant for their children, parents must furnish 1. A copy of their most recent federal tax return 2. A completed "Parents Financial Statement" provided by the school and the student service for financial aid (SSS). SSS analyzes the "Parents Financial Statement" and makes a recommendation regarding financial need to the school for its consideration. The school makes determinations of financial aid based upon this information, sometimes adjusted to reflect supplemental information provided by the family. X X 1 1 X 0 0 0 0 0 0 0 0 0 Gregory Schneider Secretary Head of School 345619 0 77739 0 22342 0 22400 0 140847 0 608947 0 0 0 Jay Bounty Assistant Treasurer CFO and Director of Operations 280811 0 739 0 20092 0 25200 0 18896 0 345738 0 0 Beverly Couglin Director of Development 335045 0 739 0 0 0 33600 0 9540 0 378924 0 0 Jay Fritz Director of Major and Planned Gifts 158170 0 729 0 300 0 18244 0 46928 0 224371 0 0 0 Donald Bradley Head of Upper School 148820 0 979 0 8202 0 18780 0 28647 0 205428 0 0 0 Lauren Hamilton Director of Information Technology 135500 0 730 0 1092 0 16260 0 88900 0 242482 0 0 0 Michael Grant Assistant Head of School 133569 0 802 0 0 0 15538 0 28647 0 178556 0 0 0 Jeffrey Fast Faculty 122619 0 729 0 20500 0 15305 0 18376 0 177529 0 0 0 Schedule J, Part I, Line 1a Gregory J. Schneider is required to stay on campus to perform his duties as Head of School. Included in Gregory J Schneider's column D for 2019 is an amount for 5% of the value of his house with utilities totaling $48,000, along with $23,400 for housekeeping's charge to clean the house. Schedule J, Part I, Line 3 The Executive Committee of the Board of Trustees sits as a Compensation Committee when it meets in executive session to consider compensation for the Head of School. The Committee reports the results of its deliberation to the Board of Trustees. This process described is also used to determine compensation for other key employees, namely the CFO and Director of Operations and the Director of Development. A Massachusetts Development Finance Agency 043431814 000000000 2012-08-09 7423000 Advance refund Series 2007 bonds 0 0 0 B Massachesetts Development Finance Agency 043431814 000000000 2017-10-02 29132000 Refund of Series A 2012 taxable bonds 0 0 0 A 0 0 7423000 0 0 0 42858 0 0 0 0 0 0 1 1 1 B 0 0 29132000 0 0 0 0 0 0 0 0 0 0 1 1 1 A 0 0 0 0 0.024 0.016 0.040 0 0 1 B 0 0 0 0 0.024 0.016 0.040 0 0 0 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 Schedule K, Part IV, Line 2c-08/09/2012 7,423,000 Massachusetts Development Finance Agency The proceeds were used to advance refund a portion of the School's Series 2007 bonds. By verification report dated August 9, 2012 issued by Causey Demkin & Moore P.C. the yield on the Series 2018B bonds is in excess of the yield of the U.S. Treasury Securities held in escrow to pay the department service requirement of the Series 2007 bonds. Accordingly, the Series 2012B bonds is not an "arbitrage bond" under Section 148 of the Internal Revenue Code of 1986, as amended. Schedule K, Part IV, Line 2c-10/02/2017 29,132,000 Massachesetts Development Finance Agency Rebate computation not performed because bond issue qualified for 6 month exception to rebate under Section 148(f)(4)(B) of the Internal Revenue Code of 1986 as amended. X 45500 cost of rugs X 17 196200 FMV on date of gift X Change in Pledges 1 -1343794 NPV of Pledges 0 1 0 Form 990, Part VI, Section B, Line 11b Prior to filing, the form 990 was reviewed by the Audit Committee of the Board of Trustees and then posted on the trustee portal on the School's website. Trustees were invited to review the form 990 online prior to filing. Form 990, Part VI, Section B, Line 12c Every year the School sends a conflict of interest questionnaire to trustees, members of trustee committees, and employees with decision making authority. The results of the survey are reviewed by the Audit Committee of the Board of Trustees. Form 990, Part VI, Section B, Line 15 The Executive Committee of the Board of Trustees sits as a Compensation Committee when it meets in executive session to consider compensation for the Head of School. The Committee reviews comparison compensation data for similar schools. The Committee reports the results of its deliberation to the Board of Trustees. This process described is also used to determine compensation for other officers and key employees, namely the Assistant Treasurer/CFO and Director of Operation and the Director of Development. Form 990, Part VI, Section C, Line 19 These documents are available to the public on request to the Business Office, Belmont Hill School, Inc. at 350 Prospect Street in Belmont, MA 02478. These documents are also available for public inspection on the website of the Attorney General of the Commonwealth of Massachusetts at http://www.charities.ago.state.ma.us/ and also at Guidestar at http://www2.guidestar.org. Form 990, Part XI, Line 9 Other changes in net assets equals the change in split interest agreements. BH Management LLC Belmont Hill School Inc 350 Prospect Street Belmont MA 024782662 273076572 Real Estate MA 231350 402444 Belmont Hill School Inc 283 Prospect Street LLC Belmont Hill School Inc 350 Prospect Street Belmont MA 024782662 273076677 Real Estate MA 0 831411 Belmont Hill School Inc 301 Prospect Street LLC Belmont Hill School Inc 350 Prospect Street Belmont MA 024782662 273076723 Real Estate MA 0 657000 Belmont Hill School Inc 315 Prospect Street LLC Belmont Hill School Inc 350 Prospect Street Belmont MA 024782662 273076773 Real Estate MA 0 1063253 Belmont Hill School Inc 9 Park Avenue LLC Belmont Hill School Inc 350 Prospect Street Belmont MA 024782662 273076628 Real Estate MA 0 1774554 Belmont Hill School Inc 305 Prospect Street Belmont Hill School Inc 350 Prospect Street Belmont MA 02478 811045471 Real Estate MA 0 737416 Belmont Hill School Inc Extension was filed.