2021-11-15T07:38:18-06:00 2021-06-30 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2020-07-01 030181215 St Johnsbury Academy STJO 8027488171 1000 Main Street St Johnsbury VT 05819 Dr Sharon Howell Headmaster 8027488171 2021-11-12 1 Dr Sharon Howell 999009999 Barbara J McGuan CPA P00219457 2077752387 2021-11-12 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z Dr Sharon Howell 1000 Main Street St Johnsbury VT 05819 50433362 0 X www.stjohnsburyacademy.org X 1842 VT Founded in 1842, St. Johnsbury Academy is a comprehensive independent private high school widely recognized as an institution that fosters character, academic excellence, and civic responsibility in its students. 21 21 401 75 2658 0 997708 6198822 30485710 25516491 1635935 4880298 333333 333333 33452686 36928944 2606774 2688268 0 0 19272291 18784109 0 0 639598 10988939 9087711 32868004 30560088 584682 6368856 67714799 76075100 15898705 14668259 51816094 61406841 X This is the mission of St. Johnsbury Academy, a diverse, comprehensive, and independent educational community grounded by our traditions, our deep optimism regarding young people, and our commitment to academic excellence: to teach good character by modeling and fostering compassion, respect, responsibility, and integrity. To foster a love for learning by challenging individuals to pursue knowledge, creativity, and intellectual self-reliance. To encourage each individual to understand his or her relationships, rights, and responsibilities within a community that is itself part of the larger world. 0 0 26553334 2688268 25191846 St. Johnsbury Academy offers a comprehensive high school program serving students in grades 9-12 and a postgraduate year. St. Johnsbury Academy offers a rigorous, wide-ranging, standards-based curriculum designed to meet the needs and interests of a wide range of abilities, career goals, and interests. St. Johnsbury Academy served 1,000 students (including boarders) in the day school program which includes standard high school curriculum, special education, fine arts, technical education and athletic programs. The school day consists of a five block daily schedule with 70 minute courses. Scholarships are provided to students from around the world including throughout the United States and North America, Central America and the Caribbean, Russia and the Newly Independent States, East Asia, Europe, and South America. St. Johnsbury Academy offers a boarding program on our campus to 236 students from across the country and the world, creating a global community. The Academy has fourteen dormitories on the campus, six for boys and eight for girls. Different in size and personality, each dorm houses faculty advisors, their families, and students. The Academy has a comprehensive resident life curriculum that complements our day school programs. Students are able to take advantage of weekend campus activities as well as travel opportunities throughout the semester. Our boarding program also includes an English as a second language program for students who require additional instruction as well as learning support programs for resident students. Expenses presented on this schedule do not reflect an inclusion of general and administrative expenses that are necessary for the school's day to day operations. 204358 324645 St. Johnsbury Academy offers a summer advanced placement institute for secondary teachers. The course covers the AP exam including test development reading, new directions within the AP curriculum, developing successful AP assignments and collaborative teaching approaches as well as workshops for experienced AP teachers. St. Johnsbury Academy served over 500 teachers during the past year. St. Johnsbury Academy offers a summer program for students for whom English is their second language. The six-week residential program offers three levels of instruction emphasizing the four core components of language development, reading, writing, conversation, and listening comprehension. In addition, the ESL summer program offers introductory and refresher courses in algebra to aid students in their English language development while studying mathematics. The program also includes social activities in the afternoon and on weekends. Expenses presented on this schedule do not reflect an inclusion of general and administrative expenses that are necessary for the school's day to day operations. 26757692 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 1 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 1 1 0 0 0 1 17 0 1 401 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 21 21 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X Carol Lyon 8027487703 1000 Main Street St Johnsbury VT 05819 Jay O Wright President 5.00 X X 0 0 0 Robert M Fairbanks Esq Vice President 2.00 X X 0 0 0 Peter Crosby Treasurer 2.00 X X 0 0 0 Nancy Usher Goodrich Secretary 2.00 X X 0 0 0 Noble Allen Trustee 1.00 X 0 0 0 Bruce E Buxton Trustee 1.00 X 0 0 0 Martha Cavanaugh Trustee 1.00 X 0 0 0 Tim Clouatre Trustee 1.00 X 0 0 0 Jenis Ellingwood-Cedeno Trustee 1.00 X 0 0 0 Frank Empsall Trustee 1.00 X 0 0 0 John S Hall Trustee 1.00 X 0 0 0 Peter Hammer Trustee 1.00 X 0 0 0 Cathy Judd-Stein Trustee 1.00 X 0 0 0 Jesse Laflamme Trustee 1.00 X 0 0 0 Erin Mayo Trustee 1.00 X 0 0 0 Garth Moulton Trustee 1.00 X 0 0 0 Jamie Murphy Trustee 1.00 X 0 0 0 Kimberly A Silloway Trustee 1.00 X 0 0 0 Paul Simpson Trustee 1.00 X 0 0 0 Lisa Wilkins Warren Trustee 1.00 X 0 0 0 Edward R Zuccaro Esq Trustee 1.00 X 0 0 0 Susan O'Neil Grayson Past Trustee 1.00 X 0 0 0 Lee P Hackett Past Trustee 1.00 X 0 0 0 James Impey Past Trustee 1.00 X 0 0 0 Alex P M Ko Past Trustee 1.00 X 0 0 0 Sharon L Howell Headmaster 80.00 X 176910 0 30710 Carol L Lyon Assistant Head Business Services/CFO 70.00 X 130950 0 15462 Tammi S Cady Assistant Head for Advancement 70.00 X 119021 0 20720 Beth A Choiniere Assistant Head for Campus Life 70.00 X 136258 0 26776 John J Cummings Associate Head for Advancement 70.00 X 165305 0 31012 James G Mazzonna Chief Technology Officer 70.00 X 125732 0 10861 James T Ryan Resident Life Director 70.00 X 104547 0 20798 Thomas W Lovett Former Headmaster 0.00 X 451691 0 12281 1410414 0 168620 8 1 1 0 Aladdin Food Management Services LLC 16567 Collections Center Drive Chicago IL 60693 Food Service 1526567 Chuck's Heating & Air Conditioning 416 Roosevelt Highway Colchester VT 05446 HVAC Installation 454990 Stewart Construction 24 Pearl Street Essex Junction VT 05452 Construction 145840 USAEDU International Educational Consult RM 1056 No 450 CaoYand Rd Shanghai CH Educational Consultant 133002 Allied Universal Technology Services 3440 Sojourn Drive Suite 220 Carrollton TX 75006 Security and Access Controls System 127120 6 4589839 1608983 99513 6198822 Day School Tuition 611600 16916806 16916806 Res School Tuition 611600 7123752 7123752 Other Educ. Prog. 611600 1007579 1007579 Field House & recreation Activity 611600 269417 269417 Miscellaneous Income 611600 198937 198937 25516491 898428 2658 895770 333333 333333 17482830 3458 13503698 720 3979132 2738 3981870 3981870 36928944 25516491 2658 5210973 2688268 2688268 549436 423040 126396 13354937 11970999 1099040 284898 602604 499309 89511 13784 3276765 2802481 409247 65037 1000367 846153 133554 20660 36860 2379 34481 47522 47522 80450 80450 97696 97696 535264 217897 290696 26671 124329 64359 57686 2284 222144 80278 87026 54840 2040942 2005734 26742 8466 97853 49256 14878 33719 372617 338096 34521 2205207 2205207 358225 358225 Food Services 1442121 1442030 91 Student Activities and 936421 933865 2516 40 Miscellaneous 447743 246781 198159 2803 Professional Developmen 42317 6375 35942 30560088 26757692 3162798 639598 X 271548 1746581 11955011 7731563 114066 82000 236288 372786 300000 300000 17415 17415 406338 476043 61272675 27847388 33621734 33425287 18409858 29066663 2295945 2766168 86596 90594 67714799 76075100 537276 510482 2082111 2168695 8289976 8019852 3004391 1984951 3969230 15898705 14668259 X 40528240 46859743 11287854 14547098 51816094 61406841 67714799 76075100 X 6368856 2541600 680291 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 80450 80450 0 Part II-B, Line 1: Hired a professional lobbying firm to monitor on behalf of the Academy legislative activities related to education funding and not for profit business regulations in Vermont. 5916205 97088 1592938 220632 7385599 6126139 72306 19760 302000 5916205 6074372 116555 158076 222864 6126139 5746230 361517 258786 292161 6074372 4702730 899053 292811 148364 5746230 0.00000 0.73210 0.26790 0 0 1697251 1697251 52035921 22404354 29631567 298971 298971 0 6779300 5144063 1635237 461232 461232 33425287 Funds held on behalf of others 384991 Obligation under split-interest agreements 44227 Early Retirement Benefit Obligation 1275266 Deferred Compensation Payable 264746 CARES Act Funding 2000000 3969230 X 37417671 2541600 52800 680291 3274691 34142980 97696 2688268 2785964 36928944 27826924 52800 52800 27774124 97696 2688268 2785964 30560088 Part V, Line 4: The Academy manages its endowment funds, including donor restricted and board designated endowments, in accordance with the laws of the state of Vermont, specifically the Uniform Prudent Management of Institutional Funds Act. Accordingly, the Academy has adopted investment and spending policies for endowment assets that are reviewed annually and attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of the endowment assets. The Academy has a policy of appropriating for distribution each year an annual draw from its endowment fund. Each year the investment committee reviews the present circumstances and future plans for the Academy, and recommends a drawing figure based on both near and longer term considerations. The spending rate calculation weights inflation at 70% and current endowment value at 30%. The policy will allow the spending rate to rise following periods of low returns and fall following periods of high returns, but maintain close to a 4.5% spending rate over time. This is consistent with the Academy's objective of maintaining the purchasing power of the endowment assets held in perpetuity or for a specified term, as well as providing additional real growth through new gifts and investment return. The spending is to be used first in accordance with donor restrictions, if any, and then for operations, support of capital expenditures investments, scholarships to students, or other board-designated purposes. Part X, Line 2: The Academy 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 Academy has identified its tax status as a tax-exempt entity and its determination of which activities are related and unrelated as its only significant tax positions; however, the Academy has determined that such tax positions do not result in an uncertainty requiring recognition. The Academy is not currently under examination by any taxing jurisdictions. The Academy'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 Split Interest Agreement 530,165. Change in Allowance for Pledges 150,126. Part XI, Line 4b - Other Adjustments: Financial Aid 2,688,268. Part XII, Line 4b - Other Adjustments: Financial Aid 2,688,268. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Nondiscriminatory policy is communicated in all relevant media. Schedule E, Part I, Line 6 St. Johnsbury Academy participates in the state of Vermont child nutrition program and received a fixed reimbursement for free and reduced breakfast and lunch eligible students as well as commodities to supplement the foodservice program. In 2020, St. Johnsbury Academy received a PPP loan, Indoor Air Quality grant and COVID relief funds through the State of Vermont Agency of Education. Central America and the Caribbean Foreign financial investment - hedge fund 1451354 0 0 0 0 0 0 1451354 0 1451354 1 0 1 0 0 0 Part III Accounting Method: 1 Scholarships to students - details available upon request 111 2631622 Awards to graduating students 44 56646 Part I, Line 2: Assistance to individuals is in the form of financial aid, grants, scholarships and tuition discounts awarded to students. Assistance for SJA tuition is applied directly to the student's account balance. Additionally, awards are also given to students at graduation from various endowments. Monitoring of these funds varies based on the terms of the endowment. X X 1 1 X X X X 0 1 0 0 0 0 0 1 0 Thomas W Lovett Former Headmaster 123523 0 50000 0 278168 0 0 0 12281 0 463972 0 268569 0 Sharon L Howell Headmaster 163505 0 0 0 13405 0 13475 0 17235 0 207620 0 0 0 John J Cummings Associate Head for Advancement 141663 0 20000 0 3642 0 7401 0 23611 0 196317 0 0 0 Beth A Choiniere Assistant Head for Campus Life 125715 0 10000 0 543 0 5847 0 20929 0 163034 0 0 0 Part I, Line 1a As a condition of employment, the headmaster, associate headmaster, and assistant headmaster reside on campus. Part I, Line 4b Sharon Howell, Headmaster, and Thomas Lovett, former Headmaster, both participate in a Section 457(f) plan. St. Johnsbury Academy did not contribute to either account during calendar year 2020. Thomas Lovett received a payout of his Section 457(f) plan of $268,569 during 2020 upon his retirement. Part I, Line 7 Beth Choiniere received a $10,000 bonus awarded by the Headmaster for work she was re-assigned when the Assistant Headmaster left for another school and Tom Lovett's bonus was awarded by the compensation committee of the board of trustees. A Vermont Education and Health Buildings Financing Agency 127154467 2021-05-20 8166893 To refinance previous bond 0 0 0 A 147041 8166893 8166893 2020 1 0 1 1 A 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 1 A 0 X 1 61534 Business Valuation X Vehicle Lease 1 22176 Lease Agreement X Welding Equipment 1 8948 Donor Valuation X Miscellaneous Noncash Contributions 9 6855 Fair Market Value 0 1 0 Form 990, Part VI, Section A, line 2 Mr. Lee P. Hackett (Trustee, retired October 2020), Mr. Jay O. Wright, Mr. Garth Moulton and Mr. John Cummings are each stockholders in Kingdom Development Company, Inc., an online education and economic development company. See also Schedule R for additional disclosures. Mrs. Cavanaugh's husband is also stockholder and director. Mr. Wright is the Treasurer of Kingdom Development Company, Inc. Mr. Jamie Murphy and Mrs. Martha Cavanaugh's husband are each 33.33% partners in a partnership. Form 990, Part VI, Section B, line 11b Once the 990 was prepared, copies were sent to members of the full board who then had 10 days to review the document and present any questions to the audit committee, CFO, or headmaster. No objections were presented and the return was filed. Form 990, Part VI, Section B, line 12c The board of trustees reviews and signs a new conflict of interest agreement each October. Any conflicts are disclosed at that time. Form 990, Part VI, Section B, line 15 The compensation committee of the board of trustees reviews the compensation of the headmaster annually using performance measures, achievement of defined goals and a customized report purchased from NAIS that provides comparative data from other independent schools, the state of Vermont as well as national statistics. Other key employees have an annual performance appraisal by the headmaster and are compensated using survey data from NAIS, ISANNE, and the state of Vermont. Form 990, Part VI, Section C, line 19 Upon request or through guidestar.org Form 990, Part X, Line 10: Land, Buildings, and Equipment: St. Johnsbury Academy 1000 Main Street St. Johnsbury, VT 05819 EIN: 03-0181215 Section 1.263(a)-3(n) Election: St. Johnsbury Academy is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Form 990, Part XI, line 9: Change in Value of Split-Interest Agreements 530,165. Change in Allowance for Pledges 150,126. New Depot Square Commercial Properties LLC 23 Ridgewood Drive St Johnsbury VT 05819 831612255 Real Estate VT N/A 0 0 Kingdom Development Company Inc 23 Ridgewood Drive St Johnsbury VT 05819 800547309 Online education and economic development VT St Johnsbury Academy C 114443 361954 0.71790 1 Prescott W Stearns FBO St Johnsbury Academy Trust 328 H Sparta Avenue Sparta NJ 07871 466515924 Beneficial Interest in Trust NJ St Johnsbury Academy T 48102 2293605 1.00000 1 Dussault Family Legacy Trust 252 Library Road Danville VT 05873 Beneficial Interest in Trust VT St Johnsbury Academy T 385791 1.00000 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 Kingdom Development Company Inc D 300000 FMV of secured bond Prescott W Stearns FBO St Johnsbury Academy Trust S 106639 Cash paid Kingdom Development Company Inc R 166667 Transfer of Cash