2021-05-17T19:38:57-05:00 2020-06-30 208014049 STONE & COMPANY LLC 57 BEDFORD ST STE 225 LEXINGTON MA 024204443 990 2019-07-01 042103573 THE FAY SCHOOL INC FAYS 5084850100 48 MAIN STREET SOUTHBOROUGH MA 017721595 DIANE BYRNE DIRECTOR OF FINANCE AND OPS 5084908213 2021-05-11 1 DONALD J ZIDIK CPA P00080352 7818636300 2021-05-03 2019 2022-09-23 18:48:47Z DIANE BYRNE 48 MAIN STREET SOUTHBOROUGH MA 017721595 36313843 0 X WWW.FAYSCHOOL.ORG X 1866 MA TO NURTURE EACH CHILD'S POTENTIAL THROUGH A BROAD, BALANCED, AND CHALLENGING PROGRAM THAT ESTABLISHES THE FOUNDATION FOR A MEANINGFUL LIFE. 24 24 288 70 0 0 3010515 2854138 25394592 24153244 1489728 1006843 0 0 29894835 28014225 2968661 3142349 0 0 13973748 15026718 0 0 784971 12908754 11811826 29851163 29980893 43672 -1966668 112743659 107158040 58210496 58965728 54533163 48192312 X TO EDUCATE EACH CHILD TO HIS OR HER FULL POTENTIAL THROUGH A BROAD, BALANCED, AND CHALLENGING PROGRAM THAT ESTABLISHES A SOLID FOUNDATION FOR A PRODUCTIVE AND FULFILLING LIFE. 0 0 22488325 3122426 21988899 INSTRUCTION AND EDUCATION: FORMAL EDUCATION OF 478 STUDENTS GRADES K-9 IN CO-ED DAY & BOARDING SETTING.AS A DAY AND BOARDING SCHOOL FOR STUDENTS IN KINDERGARTEN THROUGH GRADE NINE AND AN EARLY LEARNING CENTER FROM AGES 2.9 TO 5, FAY SCHOOL IS A COMMUNITY BUILT ON FIVE CORE VALUES: ACADEMIC EXCELLENCE; HONORABLE CONDUCT; DEDICATED SERVICE; EARNEST EFFORT; AND WELLNESS OF MIND, BODY, AND SPIRIT. WHILE THE SCHOOL HAS GROWN AND EVOLVED SINCE ITS FOUNDING IN 1866, OUR CENTRAL PURPOSE HAS REMAINED CONSTANT. FAY PROVIDES A BROAD AND CHALLENGING PROGRAM THAT EMPOWERS STUDENTS TO DISCOVER THEIR TALENTS, DEVELOP THEIR INTELLECTUAL ABILITIES, ESTABLISH ESSENTIAL ACADEMIC SKILLS AND KNOWLEDGE, AND DEFINE THEIR MORAL CHARACTER. EARNEST EFFORT HAS BEEN EMPHASIZED THROUGHOUT THE SCHOOL'S HISTORY, AS ENSHRINED IN OUR MOTTO, POTERIS MODO VELIS ("YOU CAN IF YOU WILL").FAY IS DEDICATED TO EDUCATING CHILDREN TO THEIR FULL POTENTIAL IN THE EARLY CHILDHOOD, ELEMENTARY, AND MIDDLE SCHOOL YEARS BY HELPING THEM RECOGNIZE AND DEVELOP THEIR INTELLECTUAL, AESTHETIC, PHYSICAL, SOCIAL, AND EMOTIONAL CAPABILITIES. WE TEACH OUR STUDENTS ESSENTIAL, ENDURING SKILLS: TO READ WELL, TO WRITE AND SPEAK CLEARLY AND COHERENTLY, TO REASON SOUNDLY, TO QUESTION THOUGHTFULLY, AND TO STUDY EFFECTIVELY. THESE SKILLS SUPPORT THEIR ABILITY TO LEAD, TO COLLABORATE, TO CREATE, AND TO SOLVE PROBLEMS.LOVE OF LEARNING BRINGS US TOGETHER, AND WE ENCOURAGE OUR STUDENTS TO BE CURIOUS, CREATIVE, AND OPEN TO NEW IDEAS. FAY'S SAFE AND SUPPORTIVE ENVIRONMENT ALLOWS STUDENTS TO TAKE RISKS AND ENCOURAGES THEM TO LEARN FROM MISTAKES, WITHIN THE CONTEXT OF HIGH EXPECTATIONS REGARDING ACADEMIC PERFORMANCE AND ETHICAL CONDUCT. OUR TEACHERS KNOW THEIR STUDENTS AS INDIVIDUALS AND HELP THEM COME TO KNOW THEMSELVES. AS FAY STUDENTS GROW, THEY DEVELOP AN UNDERSTANDING AND ACCEPTANCE OF THEIR OWN CHALLENGES AND STRENGTHS AS LEARNERS.HONESTY, RESPECT, RESPONSIBILITY, EMPATHY, AND KINDNESS INFORM OUR CONDUCT. THE DEVELOPMENT OF MANNERS, CIVILITY, AND INTEGRITY ARE HALLMARKS OF OUR SCHOOL. AT EVERY GRADE LEVEL, WE EMPHASIZE AN OBLIGATION TO HELP ENSURE THE WELL-BEING OF OTHERS. AS A HOME FOR BOARDING STUDENTS FROM MANY CULTURES AND BACKGROUNDS THROUGHOUT THE UNITED STATES AND AROUND THE WORLD, FAY IS AN INCLUSIVE COMMUNITY THAT RECOGNIZES, RESPECTS, AND CELEBRATES THE FULL RANGE OF HUMAN DIVERSITY.IN ALL OF THESE WAYS, FAY PREPARES OUR STUDENTS TO LEAD PRODUCTIVE AND FULFILLING LIVES THAT MAKE A POSITIVE DIFFERENCE IN THE WORLD. 1093836 19923 2164345 SUMMER PROGRAMS INCLUDE SUMMER DAY CAMP AND AN INTERNATIONAL STUDENT BOARDING PROGRAM. SUMMER CAMP IS A DYNAMIC, HANDS-ON PROGRAM FOR CHILDREN ENTERING KINDERGARTEN THROUGH GRADE NINE. OUR PROGRAM PROVIDES CAMPERS AND STUDENTS WITH AN ENGAGING AND NURTURING ATMOSPHERE THAT ENCOURAGES EXPLORATION, CREATIVITY, AND LASTING CONNECTIONS AMONG CHILDREN AND ADULTS.THE INTERNATIONAL STUDENT BOARDING PROGRAM MAKES IT POSSIBLE FOR INTERNATIONAL STUDENTS AGED 10-15 TO PARTICIPATE IN THE FAY EXPERIENCE REGARDLESS OF THEIR LEVEL OF ENGLISH PROFICENCY. IT PROVIDES A MEANINGFUL INTRODUCTION TO FAY FOR STUDENTS ENROLLING FULL TIME IN THE UPCOMING ACADEMIC YEAR AS WELL AS A STAND-ALONE PROGRAM FOR INTERNATIONAL STUDENTS WHO WISH TO FOCUS ON DEVELOPING THEIR ENGLISH SKILLS DURING THE SUMMER MONTHS, WITH THE APPROPRIATE LEVEL OF CHALLENGE AND SUPPORT. 23582161 1 1 0 1 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 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 194 0 1 288 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X THE FAY SCHOOL BUSINESS OFFICE 5084850100 48 MAIN STREET SOUTHBOROUGH MA 017721595 JAMES P SHAY PRESIDENT 2.00 X X 0 0 0 ANN M LAQUERRE VICE PRESIDENT 2.00 X X 0 0 0 YVONNE V MARSH TREASURER 2.00 X X 0 0 0 SARAH R MARS SECRETARY 2.00 X X 0 0 0 MELISSA DEMARCO BOIS TRUSTEE 2.00 X 0 0 0 HERBERT L CAMP TRUSTEE 2.00 X 0 0 0 JO GREYSTONE TRUSTEE 2.00 X 0 0 0 NOREEN R HARRINGTON TRUSTEE 2.00 X 0 0 0 DAVID W HARRIS TRUSTEE 2.00 X 0 0 0 DENNIS HOFFMAN TRUSTEE 2.00 X 0 0 0 JAE HOON KIM TRUSTEE 2.00 X 0 0 0 BRIAN LIGHT TRUSTEE 2.00 X 0 0 0 WARREN W LEE TRUSTEE 2.00 X 0 0 0 DOUGLASS N LOUD TRUSTEE 2.00 X 0 0 0 FAITH WALLACE-GADSDEN TRUSTEE 2.00 X 0 0 0 BRENDON P GIBLIN TRUSTEE 2.00 X 0 0 0 CATHY PAPADELLIS TRUSTEE 2.00 X 0 0 0 WILLIAM PICARDI TRUSTEE 2.00 X 0 0 0 NELL W REYNOLDS TRUSTEE 2.00 X 0 0 0 HEATHER R GIROLAMO TRUSTEE 2.00 X 0 0 0 ARTHUR K TING TRUSTEE 2.00 X 0 0 0 JOHN SIMON TRUSTEE 2.00 X 0 0 0 PETER C BAUER TRUSTEE 2.00 X 0 0 0 RAE-EUN SUNG TRUSTEE 2.00 X 0 0 0 ROBERT J GUSTAVSON JR HEAD OF SCHOOL/EX-OFFICIO 37.50 X 489974 0 187585 DIANE BYRNE DIR. OF FIN. & OP 37.50 X 194238 0 47637 STUART ROSENWALD ASSOCIATE HEAD OF SCHOOL 37.50 X 189185 0 49205 ROBERT CRAWFORD DIRECTOR OF ADVANCEMENT 37.50 X 165010 0 92541 STEVEN JENSEN DIR. OF INNOVATION 37.50 X 157453 0 30272 ELIZABETH WHITNEY DIR. OF ADMISSION 37.50 X 136985 0 64305 JULIA PORRAZZO DIR. OF THE EDUCATIONAL PR 37.50 X 135244 0 40346 SARAH REMSBERG HEAD OF UPPER SCHOOL 37.50 X 131166 0 38756 KATHARINE KNUPPEL DIR. OF EARLY LEARNING CENTER 37.50 X 130658 0 50959 ERIN SULLIVAN DIR. OF MARKETING & COMMUNICATIONS 37.50 X 126972 0 40803 ELAINE SCHUSTER HEAD OF LOWER SCHOOL 37.50 X 125474 0 36445 SHERYL TRAYLOR DIR. OF FACILITIES 37.50 X 108623 0 11941 ALAN CLARANCE FORMER DIR. OF FINANCE 0.00 X 307078 0 15903 ANN WARDWELL FORMER DIR. OF ADVANCEMENT 0.00 X 231266 0 27064 2629326 0 733762 14 1 1 0 SAGE DINING SERVICES INC 1402 YORK ROAD SUITE 100 LUTHERVILLE MD 21093 DINING SERVICES 1507367 MARTIN BROS CONTRACTING CO INC 6 GROVE STREET MILBURY MA 01527 CONCRETE CONSTRUCTION 278877 ECK MACNEELY ARCHITECTS INC 560 HARRISON AVENUE SUITE 403 BOSTON MA 02118 ARCHITECTURE 173109 AA TRANSPORTATION CO INC PO BOX 639 MO SHREWSBURY MA 01545 TRANSPORTATION SERVICES 143341 CONCIERGE SERVICES FOR STUDENTS LTD I 17 ARLINGTON STREET STE 4 BOSTON MA 02116 CONCIERGE SERVICES 141571 5 2854138 105596 2854138 TUITION AND FEES 611710 21988898 21988898 SUMMER AND OTHER PROGRAMS 611710 2164346 2164346 24153244 854106 854106 8452355 8299618 152737 152737 152737 28014225 24153244 0 1006843 3142349 3142349 982368 245592 736776 10278351 7808313 1973946 496092 923922 694762 180068 49092 2026349 1540526 395724 90099 815728 610416 170533 34779 135992 135992 595513 538886 48403 8224 125362 99943 95 25324 1722463 1722463 3572245 3410847 154697 6701 184803 157083 27720 OTHER 3941385 2411116 1488458 41811 EQUIPMENT AND SUPPLIES 673526 480442 188727 4357 UTILITIES 527543 448412 79131 0 TRAINING AND DEVELOPMEN 144945 118321 17574 9050 188049 152690 15917 19442 29980893 23582161 5613761 784971 44748 25305 5250875 4950877 1217049 1378106 270826 243588 96031 135302 436799 494902 98248268 48581645 51102516 49666623 54073145 50003013 251670 260324 112743659 107158040 3531541 2903723 13277255 10956988 34690056 33553256 6711644 11551761 58210496 58965728 X 30712488 24214155 23820675 23978157 54533163 48192312 112743659 107158040 X -1966668 -1291923 -3082260 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 0 PART II-B, LINE 1: THE FAY SCHOOL BELONGS TO MEMBER ORGANIZATIONS, WHICH MAY ENGAGE IN LOBBYING ACTIVITIES. SOME PORTION OF MEMBERSHIP DUES MAY BE UTILIZED FOR LOBBYING ACTIVITIES. 27550678 187060 -234492 240456 330250 26932540 26825573 173609 2284209 403295 1329418 27550678 23624372 2090800 3237387 533423 1593563 26825573 17538429 1261600 6194562 462097 908122 23624372 18743073 424300 -1105750 192914 330280 17538429 0.18210 0.81790 0 0 6737582 6737582 69794049 37075369 32718680 9529026 4919208 4609818 12187611 6587068 5600543 49666623 DUE TO PARENTS ASSOCIATION 35027 INTEREST RATE SWAP LIABILITY 9632508 OTHER LIABILITIES 78984 PPP LOAN 1805242 11551761 X 23472538 -1291923 8654 -1283269 24755807 135992 3122426 3258418 28014225 29813389 3090914 3090914 26722475 135992 3122426 3258418 29980893 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. DURING THE YEAR, THE ORGANIZATION REASSESSED AMOUNTS PREVIOUSLY CLASSIFIED AS ENDOWMENTS. AS A RESULT, CERTAIN AMOUNTS WERE RECLASSIFIED AND PRESENTED IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA. PART X, LINE 2: PART X, LINE 2: THE SCHOOL ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. THE SCHOOL HAS IDENTIFIED ITS TAX STATUS AS A TAX EXEMPT ENTITY AS A TAX POSITION; HOWEVER, THE SCHOOL HAS DETERMINED THAT SUCH TAX POSITION DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. THE SCHOOL IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. THE SCHOOL'S FEDERAL AND STATE TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT 8,654. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AWARDS 3,122,426. PART XII, LINE 2D - OTHER ADJUSTMENTS: MARKET ADJUSTMENT ON INTEREST RATE SWAP AGREEMENT 3,090,914. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AWARDS 3,122,426. 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 FAY SCHOOL IS INCLUDED IN THE GROUP LISTING OF INDEPENDENT SCHOOLS, WHOSE RACIALLY NONDISCRIMINATORY POLICY IS DISCLOSED IN THE BOSTON GLOBE EACH FALL. 1 FINANCIAL AID AND SCHOLARSHIPS BASED ON THE FAMILIES' NEEDS AND MERIT. 161 3142349 FMV OF PUBLISHED TUITION RATES TUITION ASSISTANCE PART I, LINE 2: THE FAY SCHOOL OFFERS FINANCIAL AID OR SCHOLARSHIP ASSISTANCE TO FAMILIES WITH A DEMONSTRATED FINANCIAL NEED. TO APPLY, PARENTS MUST COMPLETE THE PARENTS' FINANCIAL STATEMENTS (PFS) AND SUBMIT THAT TO THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID IN PRINCETON, N.J. X X X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 ROBERT J GUSTAVSON JR HEAD OF SCHOOL/EX-OFFICIO 489974 0 0 0 0 0 95243 0 92342 0 677559 0 0 0 DIANE BYRNE DIR. OF FIN. & OP 194238 0 0 0 0 0 12500 0 35137 0 241875 0 0 0 STUART ROSENWALD ASSOCIATE HEAD OF SCHOOL 189185 0 0 0 0 0 19574 0 29631 0 238390 0 0 0 ROBERT CRAWFORD DIRECTOR OF ADVANCEMENT 165010 0 0 0 0 0 10710 0 81831 0 257551 0 0 0 STEVEN JENSEN DIR. OF INNOVATION 157453 0 0 0 0 0 15150 0 15122 0 187725 0 0 0 ELIZABETH WHITNEY DIR. OF ADMISSION 136985 0 0 0 0 0 15453 0 48852 0 201290 0 0 0 JULIA PORRAZZO DIR. OF THE EDUCATIONAL PR 135244 0 0 0 0 0 14186 0 26160 0 175590 0 0 0 SARAH REMSBERG HEAD OF UPPER SCHOOL 131166 0 0 0 0 0 13908 0 24848 0 169922 0 0 0 KATHARINE KNUPPEL DIR. OF EARLY LEARNING CENTER 130658 0 0 0 0 0 13635 0 37324 0 181617 0 0 0 ERIN SULLIVAN DIR. OF MARKETING & COMMUNICATIONS 126972 0 0 0 0 0 13661 0 27142 0 167775 0 0 0 ELAINE SCHUSTER HEAD OF LOWER SCHOOL 125474 0 0 0 0 0 13635 0 22810 0 161919 0 0 0 ALAN CLARANCE FORMER DIR. OF FINANCE 307078 0 0 0 0 0 13005 0 2898 0 322981 0 0 0 ANN WARDWELL FORMER DIR. OF ADVANCEMENT 231266 0 0 0 0 0 10500 0 16564 0 258330 0 0 0 PART I, LINE 1A ON OCCASION DURING THE YEAR ENDED JUNE 30, 2020, THE SPOUSE OF THE HEAD OF SCHOOL TRAVELLED TO EVENTS REPRESENTING THE SCHOOL. THE HEAD OF SCHOOL HAS A DISCRETIONARY SPENDING ALLOWANCE TO BE USED FOR SCHOOL EXPENSES NOT INDENTIFIED IN THE BUDGET PROCESS. AS A CONDITION OF EMPLOYMENT AND IN ORDER TO PERFORM HIS DUTIES THE HEAD OF SCHOOL IS REQUIRED TO LIVE ON CAMPUS IN A SCHOOL OWNED PROPERTY. THIS BUILDING IS CLEANED AND MAINTAINED BY SCHOOL PERSONNEL AND OUTSIDE CONTRACTORS. INCLUDED IN ROBERT GUSTAVSON'S COLUMN D IS AN AMOUNT FOR 5% OF THE VALUE OF THE PROPERTY INCLUDING UTILITIES TOTALING $52,265. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57583RTZ8 2008-03-27 43000000 CONSTRUCTION AND EQUIPPING OF EXPANDED FACILITIES AT THE SCHOOL. 0 0 0 A 43000000 732046 40060981 2206973 2010 0 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 1 MORGAN STANLEY 30.000000000000 0 0 0 0 0 A 0 X 755 104596 FMV ON DATE OF GIFT X GIFT CARDS 1 1000 FMV OF GOODS PROVIDE 0 1 1 PART I, LINE 32B: THE SCHOOL USES AN INVESTMENT COMPANY, B RILEY, TO PROCESS AND SELL STOCK GIFTS. FORM 990, PART VI, SECTION B, LINE 11B THE FULL BOARD OF TRUSTEES REVIEWS THE ENTIRE FORM 990 WITH THE EXCEPTION OF SCHEDULE B WHICH IS NOT REVIEWED BY THE BOARD DUE TO ITS SENSITIVE NATURE. SCHEDULE B OF FORM 990 IS REVIEWED BY THE HEAD OF SCHOOL AND THE DIRECTOR OF FINANCE AND OPERATIONS. FORM 990, PART VI, SECTION B, LINE 12C AT THE FIRST BOARD MEETING EACH YEAR (OCT/NOV) EACH TRUSTEE COMPLETES A CONFLICT OF INTEREST STATEMENT THAT IS HELD IN THE HEAD OF THE SCHOOL'S OFFICE FOR THE YEAR. THE POLICY GETS REVIEWED PRIOR TO AUDIT AND UPDATED ANNUALLY. FAY SCHOOL CURRENTLY FOLLOWS NAIS GUIDELINES FOR ITS WHISTLE BLOWER AND DOCUMENT RETENTION AND DESTRUCTION POLICIES. THE SCHOOL HAS FORMALIZED ITS OWN POLICIES AND WILL INCLUDE THEM IN THEIR EMPLOYEE HANDBOOK. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES DETERMINES THE COMPENSATION FOR THE HEAD OF SCHOOL. THE HEAD OF SCHOOL HAS A WRITTEN CONTRACT. THE INFORMATION INCLUDED FOR THIS COMPENSATION REVIEW INCLUDES A REBUTTABLE PRESUMPTION CHECKLIST AMONG OTHER PROCEDURES. ALL OTHER PERSONNEL SALARIES ARE DETERMINED BY THE HEAD OF SCHOOL WITH INPUT FROM THE DIRECTOR OF FINANCE AND OPERATIONS. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION'S TAX FILINGS ARE AVAILABLE ONLINE FOR VIEWING AT WWW.GUIDESTAR.ORG, A WEBSITE USED TO RATE NON-PROFITS FOR POTENTIAL DONORS. THE TAX FILINGS ARE ALSO AVAILABLE AT THE MASSACHUSETTS ATTORNEY GENERAL'S DIVISION FOR PUBLIC CHARITIES WEBSITE AND AT THE SCHOOL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S TAX FILINGS ARE AVAILABLE ONLINE FOR VIEWING AT WWW.GUIDESTAR.ORG, A WEBSITE USED TO RATE NON-PROFITS FOR POTENTIAL DONORS. THE TAX FILINGS AND FINANCIAL STATEMENTS ARE ALSO AVAILABLE AT THE MASSACHUSETTS ATTORNEY GENERAL'S DIVISION FOR PUBLIC CHARITIES WEBSITE AND AT THE SCHOOL. FORM 990, PART XI, LINE 9: CHANGE IN VALUES OF SPLIT-INTEREST AGREEMENTS 8,654. MARKET ADJUSTMENT ON INTEREST RATE SWAP AGREEMENT -3,090,914.