MILTON ACADEMY: Form 990, tax year 2018
View the entire original 990 at ProPublica ↗
- Organization
- MILTON ACADEMY (EIN 04-2103603)
- Tax period
- 2018-07-01 to 2019-06-30
- Filed
- 2020-05-20
- IRS object ID
- 202001419349301000
- Schema version
- 2018v3.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule F
- Schedule G
- Schedule I
- Schedule J
- Schedule K
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2020-05-20T08:54:59-05:00 | ReturnTs |
| Tax Period End | 2019-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 263753134 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CBIZ MHM LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 500 BOYLSTON STREET | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02116 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2018-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042103603 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MILTON ACADEMY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MILT | BusinessNameControlTxt |
| Phone | 6178981798 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 170 CENTRE STREET | AddressLine1Txt |
| City | MILTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02186 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | HEIDI VANDERBILT-BROWN | PersonNm |
| Person Title | CFO & COO | PersonTitleTxt |
| Phone | 6178982200 | PhoneNum |
| Signature | 2020-05-19 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | CRAIG KLEIN | PreparerPersonNm |
| PTIN | P00734640 | PTIN |
| Phone | 6177610600 | PhoneNum |
| Preparation | 2020-05-19 | PreparationDt |
Filing Security Information FilingSecurityInformation
IP Address IPAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| I Pv4 Address | 207.172.72.163 | IPv4AddressTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IP | 2020-05-19 | IPDt |
| IP Tm | 09:53:20 | IPTm |
| IP Timezone | ED | IPTimezoneCd |
| Filing License Type | P | FilingLicenseTypeCd |
| At Submission Creation Device Id | DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 | AtSubmissionCreationDeviceId |
| At Submission Filing Device Id | AAFE5242E44AA74A98A743050A15125E154A43A4 | AtSubmissionFilingDeviceId |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2018 | TaxYr |
| Build TS | 2020-09-23 17:36:50Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | HEIDI VANDERBILT-BROWN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 170 CENTRE STREET | AddressLine1Txt |
| City | MILTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02186 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $139,982,775 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.MILTON.EDU | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1798 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | MILTON ACADEMY IS AN INDEPENDENT COLLEGE PREPARATORY K-12 SCHOOL, BOARDING AND DAY IN GRADES 9-12. | ActivityOrMissionDesc |
| Voting Members Governing Body | 27 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 27 | VotingMembersIndependentCnt |
| Total Employee | 588 | TotalEmployeeCnt |
| Total Volunteers | 341 | TotalVolunteersCnt |
| Total Gross UBI | $159,021 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $20,953,411 | PYContributionsGrantsAmt |
| CY Contributions Grants | $11,848,637 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $54,340,508 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $55,992,563 | CYProgramServiceRevenueAmt |
| PY Investment Income | $12,653,678 | PYInvestmentIncomeAmt |
| CY Investment Income | $22,033,706 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $87,947,597 | PYTotalRevenueAmt |
| CY Total Revenue | $89,874,906 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $13,064,661 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $13,316,203 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $34,992,083 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $36,685,577 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $28,800 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $46,348 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $3,928,024 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $29,491,157 | PYOtherExpensesAmt |
| CY Other Expenses | $28,749,260 | CYOtherExpensesAmt |
| PY Total Expenses | $77,576,701 | PYTotalExpensesAmt |
| CY Total Expenses | $78,797,388 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $10,370,896 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $11,077,518 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $406,699,265 | TotalAssetsBOYAmt |
| Total Assets EOY | $406,482,319 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $61,088,581 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $58,694,539 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $345,610,684 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $347,787,780 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | MILTON ACADEMY CULTIVATES IN ITS STUDENTS A PASSION FOR LEARNING AND A RESPECT FOR OTHERS. EMBRACING DIVERSITY AND THE PURSUIT OF EXCELLENCE, WE CREATE A COMMUNITY IN WHICH INDIVIDUALS DEVELOP COMPETENCE, CONFIDENCE AND CHARACTER. SEE SCHEDULE O FOR FULL DESCRIPTION.MILTON ACADEMY CULTIVATES IN ITS STUDENTS A PASSION FOR LEARNING AND A RESPECT FOR OTHERS. EMBRACING DIVERSITY AND THE PURSUIT OF EXCELLENCE, WE CREATE A COMMUNITY IN WHICH INDIVIDUALS DEVELOP COMPETENCE, CONFIDENCE AND CHARACTER. OUR ACTIVE LEARNING ENVIRONMENT, IN AND OUT OF THE CLASSROOM, DEVELOPS CREATIVE AND CRITICAL THINKERS, UNAFRAID TO EXPRESS THEIR IDEAS, PREPARED TO SEEK MEANINGFUL LIFETIME SUCCESS AND TO LIVE BY OUR MOTTO, "DARE TO BE TRUE." | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $49,383,029 | ExpenseAmt |
| Grant | $12,689,637 | GrantAmt |
| Revenue | $50,120,724 | RevenueAmt |
| Desc | MILTON ACADEMY PROMOTES AN ENVIRONMENT OF LIFELONG LEARNING TO 1003 STUDENTS IN GRADES K-12. STUDENTS ARE ENCOURAGED TO PARTICIPATE IN COMMUNITY SERVICE AND VOLUNTEER OPPORTUNITIES DURING THE YEAR IN AN EFFORT TO INSTILL A PASSION FOR GIVING BACK TO OTHERS FOR MANY YEARS. FULL AND PARTIAL SCHOLARSHIPS ARE AWARDED TO STUDENTS BASED ON FINANCIAL NEED. IN 2019, MILTON ACADEMY AWARDED FINANCIAL AID TO 26% OF OUR STUDENTS.SEE SCHEDULE O FOR FULL DESCRIPTION.MILTON ACADEMY PROMOTES AN ENVIRONMENT OF LIFELONG LEARNING TO 1003 STUDENTS IN GRADES K-12. STUDENTS ARE ENCOURAGED TO PARTICIPATE IN COMMUNITY SERVICE AND VOLUNTEER OPPORTUNITIES DURING THE YEAR IN AN EFFORT TO INSTILL A PASSION FOR GIVING BACK TO OTHERS FOR MANY YEARS. FULL AND PARTIAL SCHOLARSHIPS ARE AWARDED TO STUDENTS BASED ON FINANCIAL NEED. IN 2019, MILTON ACADEMY AWARDED FINANCIAL AID TO 26% OF OUR STUDENTS.THE COMMUNITY ENGAGEMENT PROGRAM, (COMMUNITY ENGAGEMENT PROGRAMS AND PARTNERSHIPS (CEPP)), SEEKS TO INSTILL AND SUPPORT A PASSION FOR SERVICE IN MILTON ACADEMY'S STUDENTS, FACULTY AND STAFF. THROUGH PROVIDING A MULTITUDE OF OPPORTUNITIES FROM TUTORING IN LOCAL SCHOOLS, TO DONATING BLOOD, TO ASSISTING THE ELDERLY, THE PROGRAM STRIVES TO PROVIDE THE MILTON COMMUNITY WITH INTERESTING AND MEANINGFUL SERVICE OPPORTUNITIES. ON AVERAGE, ABOUT 200 STUDENTS MAKE WEEKLY COMMITMENTS TO OVER 22 DIFFERENT ORGANIZATIONS IN THE GREATER BOSTON AREA. ANOTHER 200 STUDENTS PARTICIPATE IN MULTI-ANNUAL EVENTS SUCH AS SPECIAL OLYMPICS TOURNAMENTS, RED CROSS BLOOD DRIVE AND HOLIDAY GIVING EVENTS. THE ENTIRE MILTON COMMUNITY PARTICIPATES IN THE ANNUAL HUNGER AWARENESS EVENT AND COMMUNITY ENGAGEMENT DAY. THE PROGRAM ALSO SUPPORTS INDIVIDUAL AND GROUP INITIATIVES FOR PARTICULAR CAUSES, SUCH AS HOMELESS SHELTERS AND HURRICANE RELIEF. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $2,752,424 | ExpenseAmt |
| Grant | $626,566 | GrantAmt |
| Revenue | $4,002,127 | RevenueAmt |
| Desc | THE MOUNTAIN SCHOOL OF MILTON ACADEMY IS AN INDEPENDENT SEMESTER PROGRAM THAT PROVIDES HIGH SCHOOL JUNIORS THE OPPORTUNITY TO LIVE AND WORK ON AN ORGANIC FARM IN RURAL VERMONT. EACH SEMESTER THE MOUNTAIN SCHOOL DRAWS 45 HIGH-ACHIEVING STUDENTS FROM ALL OVER THE COUNTRY. COURSES PROVIDE A DEMANDING, INTEGRATED LEARNING EXPERIENCE THAT TAKES FULL ADVANTAGE OF THE SCHOOL'S SMALL SIZE AND MOUNTAIN CAMPUS. STUDENTS COME FROM DIFFERENT BACKGROUNDS AND SCHOOLS AROUND THE COUNTRY, AND ARE CHALLENGED TO WORK TOGETHER AND LEARN FROM EACH OTHER, AS THEY EXPLORE THE INTERSECTION OF THE SCHOOL'S FARM, ACADEMIC PROGRAM, AND RESIDENTIAL LIFE. THE GOAL IS FOR STUDENTS TO RETURN TO THEIR SCHOOLS AND COMMUNITIES, MORE CLEAR ABOUT THEMSELVES AND BETTER PREPARED TO BECOME EFFECTIVE CITIZENS. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $1,945,479 | ExpenseAmt |
| Desc | THROUGH INTERSCHOLASTIC AND INTRAMURAL SPORTS, AS WELL AS PHYSICAL EDUCATION COURSES, ALL MILTON ACADEMY STUDENTS ARE INVOLVED IN PHYSICALLY ACTIVE AND CHALLENGING PURSUITS THAT HELP FORM AN EXCEPTIONAL EDUCATIONAL EXPERIENCE. ATHLETIC ACTIVITY IS CERTAINLY AN EXPRESSION OF ONE FORM OF INTELLIGENCE, AN INTELLIGENCE THAT NEEDS TO BE DEVELOPED AND NURTURED AS DOES ANY OTHER. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp (2 entries)
| ExpenseExpenseAmt | RevenueRevenueAmt | DescDesc |
|---|---|---|
| $1,481,197 | $1,733,708 | MILTON ACADEMY PROVIDES A SATURDAY COURSE TO GIFTED STUDENTS, RENTAL OF FACILITIES, ADULT WORKSHOPS, AN OUTDOOR PROGRAM, AFTER SCHOOL ACTIVITIES, AND YEARBOOK PROGRAM. |
| $549,216 | COLLEGE COUNSELING: THE COLLEGE COUNSELING OFFICE AT MILTON BUILDS ITS PROGRAM AROUND INDIVIDUALISM. WE BELIEVE THAT THE COLLEGE COUNSELING PROCESS BEGINS AND ENDS WITH THE STUDENT. WE KNOW THAT EACH STUDENT HAS A DIFFERENT STORY, OUR GUIDING PRINCIPLE IS MUCH LIKE THAT OF A GOOD TEACHER: START WHERE THE STUDENT IS. |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $2,030,413 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Revenue | $1,733,708 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $56,111,345 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | Yes (1) | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | Yes (1) | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | Yes (1) | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 214 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 588 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (1) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (1) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 27 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 27 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | Yes (1) | LocalChaptersInd |
| Policies Reference Chapters | Yes (1) | PoliciesReferenceChaptersInd |
| Form990 Provided To Gvrn Body | 0 | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | EDWARD DONAHUE | PersonNm |
| Phone | 6178982280 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 170 CENTRE STREET | AddressLine1Txt |
| City | MILTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 021863397 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (40 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| ROBERT AZEKE | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| CHARLES CHEEVER | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| DOUGLAS CROCKER II | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JASON DILLOW | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| RANDALL DUNN | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| ELEANOR HALLER-JORDEN | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| PETER R KAGAN | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| ELIZABETH B KATZ | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| WILLIAM KNOWLTON | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| STEPHEN LEBOVITZ | ||||||||
| TRUSTEE (UNTIL MAY '19) | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| YUNLI LOU | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| JOHN D MCEVOY | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| CATHERINE PAPOULIAS-SAKELLARIS | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| LIPING QIU | ||||||||
| TRUSTEE (UNTIL MAY '19) | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| GABRIEL SUNSHINE | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| DUNE D THORNE | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| PATRICK TSANG | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| ERICK N TSENG | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| KIMBERLY STEIMLE VAUGHAN | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| LUIS M VICEIRA | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| DOROTHY A WEBER | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| EDWARD E WENDELL JR | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| SYLVIA P WESTPHAL | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| RONNELL L WILSON | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| KEVIN K YIP | ||||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| ELISABETH DONOHUE | ||||||||
| TRUSTEE - PRESIDENT | 4.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| WENDY NICHOLSON | ||||||||
| TRUSTEE - VICE PRESIDENT | 3.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| JOHN FITZGIBBONS | ||||||||
| TRUSTEE - TREASURER (UNTIL MAY '19) | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| CLAIRE HUGHES JOHNSON | ||||||||
| TRUSTEE - TREASURER | 3.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| STUART MATHEWS | ||||||||
| TRUSTEE - VP & SECRETARY | 3.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| THEODORICK BLAND | ||||||||
| HEAD OF SCHOOL | 60.00 | $596,993 | $0 | $158,322 | Yes (X) | |||
| ALDEN SMITH | ||||||||
| DIR. OF THE MOUNTAIN SCHOOL | 50.00 | $155,026 | $0 | $39,069 | Yes (X) | |||
| HEIDI VANDERBILT-BROWN | ||||||||
| CHIEF FINANCIAL & OPERATING OFFICER | 50.00 | $258,306 | $0 | $29,569 | Yes (X) | |||
| LISA WINICK | ||||||||
| CHIEF ADVANCEMENT OFFICER | 50.00 | $261,658 | $0 | $76,288 | Yes (X) | |||
| DAVID BALL | ||||||||
| PRINCIPAL, UPPER SCHOOL | 50.00 | $171,744 | $0 | $49,059 | Yes (X) | |||
| PAUL REBUCK | ||||||||
| DEAN OF ADMISSION | 50.00 | $162,826 | $0 | $121,504 | Yes (X) | |||
| EDWARD DONAHUE | ||||||||
| CONTROLLER | 50.00 | $152,373 | $0 | $21,189 | Yes (X) | |||
| DEBORAH O'TOOLE | ||||||||
| CHIEF HUMAN RESOURCE OFFICER | 50.00 | $143,744 | $0 | $21,474 | Yes (X) | |||
| CATHERINE CONNOLLY | ||||||||
| DIRECTOR OF DEVELOPMENT | 50.00 | $179,116 | $0 | $29,878 | Yes (X) | |||
| SAMANTHA E DIXON EVERSOLE | ||||||||
| DIR. OF THE MILTON FUND & ADV. | 50.00 | $138,609 | $0 | $19,464 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,220,395 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $565,816 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 43 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| CE FLOYD COMPANY INC | |||||
| 135 SOUTH ROAD | BEDFORD | MA | 01730 | CONSTRUCTION CONSULTANT | $3,912,273 |
| SAGE DINING SERVICES INC | |||||
| 1402 YORK ROAD | LUTERVILLE | MD | 21093 | FOOD SERVICE | $3,362,664 |
| ARCHITECTURAL RESOURCES CAMBRIDGE INC | |||||
| 501 BOYLSTON ST 4101 | BOSTON | MA | 02116 | CONSTRUCTION CONSULTANT | $957,445 |
| PARTNERS CAPITAL INVESTMENT GROUP LLC | |||||
| 50 ROWES WHARF | BOSTON | MA | 02110 | INVESTMENT CONSULTANT | $915,896 |
| ATALIAN GLOBAL SERVICES - NEW ENGLAND RE | |||||
| PO BOX 850914 | BRAINTREE | MA | 02185 | CLEANING COMPANY | $889,252 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 21 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $11,848,637 | AllOtherContributionsAmt |
| Noncash Contributions | $3,090,534 | NoncashContributionsAmt |
| Total Contributions | $11,848,637 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt |
|---|---|---|---|---|
| TUITION | 900099 | $53,818,600 | $53,818,600 | |
| AUXILIARY INCOME | 900099 | $2,173,963 | $2,037,959 | $136,004 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $55,992,563 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,323,670 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $23,017 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,300,653 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $68,817,905 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $49,585,929 | SecuritiesAmt |
| Other | $521,940 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $19,231,976 | SecuritiesAmt |
| Other | -$521,940 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $18,710,036 | TotalRevenueColumnAmt |
| Exclusion | $18,710,036 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $89,874,906 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $55,856,559 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $159,021 | UnrelatedBusinessRevenueAmt |
| Exclusion | $22,010,689 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $125,000 | TotalAmt |
| Program Services | $125,000 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,191,203 | TotalAmt |
| Program Services | $13,191,203 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,521,059 | TotalAmt |
| Program Services | $188,879 | ProgramServicesAmt |
| Management And General | $1,049,930 | ManagementAndGeneralAmt |
| Fundraising | $282,250 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,341,280 | TotalAmt |
| Program Services | $20,640,574 | ProgramServicesAmt |
| Management And General | $4,853,278 | ManagementAndGeneralAmt |
| Fundraising | $1,847,428 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,962,954 | TotalAmt |
| Program Services | $1,283,306 | ProgramServicesAmt |
| Management And General | $532,840 | ManagementAndGeneralAmt |
| Fundraising | $146,808 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,939,036 | TotalAmt |
| Program Services | $2,575,195 | ProgramServicesAmt |
| Management And General | $1,069,244 | ManagementAndGeneralAmt |
| Fundraising | $294,597 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,921,248 | TotalAmt |
| Program Services | $1,256,041 | ProgramServicesAmt |
| Management And General | $521,519 | ManagementAndGeneralAmt |
| Fundraising | $143,688 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $526,345 | TotalAmt |
| Management And General | $526,345 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $117,300 | TotalAmt |
| Management And General | $117,300 | ManagementAndGeneralAmt |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $46,348 | TotalAmt |
| Fundraising | $46,348 | FundraisingAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,413,433 | TotalAmt |
| Management And General | $3,413,433 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,325,803 | TotalAmt |
| Program Services | $1,090,477 | ProgramServicesAmt |
| Management And General | $915,172 | ManagementAndGeneralAmt |
| Fundraising | $320,154 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $158,779 | TotalAmt |
| Program Services | $10,500 | ProgramServicesAmt |
| Management And General | $116,796 | ManagementAndGeneralAmt |
| Fundraising | $31,483 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,561,292 | TotalAmt |
| Program Services | $1,863,591 | ProgramServicesAmt |
| Management And General | $1,375,881 | ManagementAndGeneralAmt |
| Fundraising | $321,820 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,138,388 | TotalAmt |
| Program Services | $21,491 | ProgramServicesAmt |
| Management And General | $1,116,897 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,702,105 | TotalAmt |
| Program Services | $1,429,768 | ProgramServicesAmt |
| Management And General | $255,316 | ManagementAndGeneralAmt |
| Fundraising | $17,021 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,118,846 | TotalAmt |
| Program Services | $794,297 | ProgramServicesAmt |
| Management And General | $205,533 | ManagementAndGeneralAmt |
| Fundraising | $119,016 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $23,999 | TotalAmt |
| Program Services | $16,369 | ProgramServicesAmt |
| Management And General | $7,618 | ManagementAndGeneralAmt |
| Fundraising | $12 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,165,061 | TotalAmt |
| Program Services | $1,818,651 | ProgramServicesAmt |
| Management And General | $324,759 | ManagementAndGeneralAmt |
| Fundraising | $21,651 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,090,927 | TotalAmt |
| Program Services | $4,276,379 | ProgramServicesAmt |
| Management And General | $763,639 | ManagementAndGeneralAmt |
| Fundraising | $50,909 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $556,994 | TotalAmt |
| Management And General | $556,994 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| DINING SERVICES | $3,705,390 | $3,275,993 | $172,168 | $257,229 |
| FACILITIES | $1,702,732 | $1,277,057 | $411,339 | $14,336 |
| ACADEMIC PROG. & EVENTS | $1,266,463 | $976,574 | $276,615 | $13,274 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $175,403 | TotalAmt |
| Management And General | $175,403 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $78,797,388 | TotalAmt |
| Program Services | $56,111,345 | ProgramServicesAmt |
| Management And General | $18,758,019 | ManagementAndGeneralAmt |
| Fundraising | $3,928,024 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,034,863 | BOYAmt |
| EOY | $2,382,867 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,049,148 | BOYAmt |
| EOY | $7,157,422 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $473,569 | BOYAmt |
| EOY | $978,743 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $152,498,120 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $97,563,714 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $49,712,015 | BOYAmt |
| EOY | $54,934,406 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $76,074,763 | BOYAmt |
| EOY | $85,385,925 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $259,876,298 | BOYAmt |
| EOY | $249,481,655 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,478,609 | BOYAmt |
| EOY | $6,161,301 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $406,699,265 | BOYAmt |
| EOY | $406,482,319 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,520,494 | BOYAmt |
| EOY | $5,720,300 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,703,811 | BOYAmt |
| EOY | $2,851,353 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $48,781,697 | BOYAmt |
| EOY | $48,094,831 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,082,579 | BOYAmt |
| EOY | $2,028,055 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $61,088,581 | BOYAmt |
| EOY | $58,694,539 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $52,558,809 | BOYAmt |
| EOY | $54,661,976 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $152,679,656 | BOYAmt |
| EOY | $150,236,737 | EOYAmt |
Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $140,372,219 | BOYAmt |
| EOY | $142,889,067 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $345,610,684 | BOYAmt |
| EOY | $347,787,780 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $406,699,265 | BOYAmt |
| EOY | $406,482,319 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $11,077,518 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$8,751,632 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$148,790 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $20,988,293 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $16,751,180 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $17,969,387 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $20,953,411 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $11,848,637 | CurrentTaxYearAmt |
| Total | $88,510,908 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $20,988,293 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $16,751,180 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $17,969,387 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $20,953,411 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $11,848,637 | CurrentTaxYearAmt |
| Total | $88,510,908 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $10,622,066 | SubstantialContributorsTotAmt |
| Public Support Total170 | $77,888,842 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $4,088,252 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $2,926,366 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,512,678 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,756,114 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $3,300,653 | CurrentTaxYearAmt |
| Total | $20,584,063 | TotalAmt |
Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $369,346 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $461,019 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $463,531 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $441,599 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $0 | CurrentTaxYearAmt |
| Total | $1,735,495 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $110,830,466 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $260,614,713 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.70280 | PublicSupportCY170Pct |
| Public Support PY170 | 0.69380 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | FORM 990, SCHEDULE A, PART I, LINE 7: | FormAndLineReferenceDesc |
| Explanation | THE BASIS OF MILTON ACADEMY'S PUBLIC CHARITY STATUS HAS BEEN AND CONTINUES TO BE ITS QUALIFICATION AS A SCHOOL DESCRIBED IN SECTION 170(B)(1)(A)(II). THE ORGANZIATION HAS CHECKED BOX 7 ON SCHEDULE A, PART I AND COMPLETED SCHEDULE A, PART II IN ORDER TO DEMONSTRATE ITS QUALIFICATION TO FOLLOW THE SPECIAL RULE FOR ABBREVIATED REPORTING OF CONTRIBUTIONS ON FORM 990, SCHEDULE B. | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $318,261,422 | BeginningYearBalanceAmt |
| Contributions | $7,644,673 | ContributionsAmt |
| Investment Earnings Or Losses | $10,643,953 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $11,782,600 | OtherExpendituresAmt |
| Administrative Expenses | $1,031,220 | AdministrativeExpensesAmt |
| End Year Balance | $323,736,228 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $286,564,828 | BeginningYearBalanceAmt |
| Contributions | $15,991,354 | ContributionsAmt |
| Investment Earnings Or Losses | $27,682,762 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $11,196,000 | OtherExpendituresAmt |
| Administrative Expenses | $781,522 | AdministrativeExpensesAmt |
| End Year Balance | $318,261,422 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $253,328,811 | BeginningYearBalanceAmt |
| Contributions | $10,010,792 | ContributionsAmt |
| Investment Earnings Or Losses | $34,817,602 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $10,789,000 | OtherExpendituresAmt |
| Administrative Expenses | $803,377 | AdministrativeExpensesAmt |
| End Year Balance | $286,564,828 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $264,145,716 | BeginningYearBalanceAmt |
| Contributions | $8,664,157 | ContributionsAmt |
| Investment Earnings Or Losses | -$8,706,969 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $10,013,000 | OtherExpendituresAmt |
| Administrative Expenses | $761,093 | AdministrativeExpensesAmt |
| End Year Balance | $253,328,811 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $254,160,490 | BeginningYearBalanceAmt |
| Contributions | $7,798,856 | ContributionsAmt |
| Investment Earnings Or Losses | $12,694,368 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $9,191,416 | OtherExpendituresAmt |
| Administrative Expenses | $1,316,582 | AdministrativeExpensesAmt |
| End Year Balance | $264,145,716 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.13330 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.42100 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.44570 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | Yes (1) | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $367,817 | OtherCostOrOtherBasisAmt |
| Book Value | $367,817 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $129,128,903 | OtherCostOrOtherBasisAmt |
| Depreciation | $85,771,195 | DepreciationAmt |
| Book Value | $43,357,708 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $9,811,290 | OtherCostOrOtherBasisAmt |
| Depreciation | $7,041,071 | DepreciationAmt |
| Book Value | $2,770,219 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $13,190,110 | OtherCostOrOtherBasisAmt |
| Depreciation | $4,751,448 | DepreciationAmt |
| Book Value | $8,438,662 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $54,934,406 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (10 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| INTERNATIONAL EQUITY SECURITIES | $93,987,166 | F |
| REAL ESTATE PARTNERSHIPS | $7,089,103 | F |
| RELATIVE VALUE | $18,440,360 | F |
| TRUST INVESTMENTS | $2,505,108 | F |
| ILLIQUID CREDIT | $11,784,927 | F |
| PRIVATE EQUITY & VENTURE CAPITAL | $42,665,421 | F |
| POOLED INCOME | $2,255,972 | F |
| ABSOLUTE RETURN | $12,606,329 | F |
| HEDGED EQUITIES | $35,695,431 | F |
| PRIVATE EQUITY DEBT | $22,451,838 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $249,481,655 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| PAYABLE TO ANNUITANTS | $1,871,068 |
| ASSET RETIREMENT OBLIGATION | $104,966 |
| OBLIGATIONS UNDER INTEREST RATE SWAP CONTRACTS | $52,021 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,028,055 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $65,084,261 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$8,751,632 | NetUnrealizedGainsInvstAmt |
| Other Revenue | -$13,147,520 | OtherRevenueAmt |
| Revenue Not Reported | -$21,899,152 | RevenueNotReportedAmt |
| Revenue Subtotal | $86,983,413 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $3,413,433 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | -$521,940 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $2,891,493 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $89,874,906 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $62,907,165 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $460,711 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $460,711 | ExpensesNotReportedAmt |
| Expenses Subtotal | $62,446,454 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $3,413,433 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $12,937,501 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $16,350,934 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $78,797,388 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART V, LINE 4: | THE ENDOWMENT IS USED TO INVEST FUNDS FOR THE SCHOOL. A SPENDING RATE OF 4.50 PERCENT OF A ROLLING 12 QUARTER AVERAGE FAIR VALUE OF THE INVESTMENTS IS USED TO FUND PROGRAMS AND PROVIDE SCHOLARSHIPS. |
| PART X, LINE 2: | THE ACADEMY ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD, BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO BE UNCERTAIN, 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 CLASSIFICATIONS OF INCOME AS RELATED OR UNRELATED AS THE ONLY SIGNIFICANT POSITIONS. 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 JURISDICTION. 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 AGREEMENTS -210,019. STUDENT FINANCIAL AID -12,937,501. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | LOSS ON RETIREMENT OF PP&E -498,012. WRITTEN OFF CONSTRUCTION IN PROGRESS -23,928. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | GAIN ON INTEREST RATE SWAP CONTRACT -61,229. LOSS ON RETIREMENT OF PP&E 498,012. WRITTEN OFF CONSTRUCTION IN PROGRESS 23,928. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | STUDENT FINANCIAL AID 12,937,501. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | 0 | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE E, PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | MILTON ACADEMY'S NONDISCRIMINATORY POLICY IS PUBLISHED IN THE SCHOOL'S BROCHURES AND APPLICATIONS. IT IS ALSO INCLUDED IN ADVERTISEMENTS IN THE BOSTON GLOBE. | ExplanationTxt |
Schedule F IRS990ScheduleF
Account Activities Outside US AccountActivitiesOutsideUSGrp (4 entries)
| RegionRegionTxt | OfficesOfficesCnt | EmployeeEmployeeCnt | Type Of Activities ConductedTypeOfActivitiesConductedTxt | Region Total ExpendituresRegionTotalExpendituresAmt |
|---|---|---|---|---|
| EAST ASIA AND THE PACIFIC | 0 | 0 | INVESTMENTS | $13,747,812 |
| SUB-SAHARAN AFRICA | 0 | 0 | INVESTMENTS | $686,164 |
| EUROPE (INCLUDING ICELAND & GREENLAND) | 0 | 0 | INVESTMENTS | $11,166,480 |
| SOUTH ASIA | 0 | 0 | INVESTMENTS | $1,304,703 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 0 | SubtotalOfficesCnt |
| Subtotal Employees | 0 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 0 | TotalOfficeCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Subtotal Spent | $26,905,159 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $26,905,159 | TotalSpentAmt |
| Transfer To Foreign Corp | Yes (1) | TransferToForeignCorpInd |
| Interest In Foreign Trust | 0 | InterestInForeignTrustInd |
| Foreign Corp Ownership | Yes (1) | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | Yes (1) | PassiveForeignInvestmestCoInd |
| Foreign Partnership | Yes (1) | ForeignPartnershipInd |
| Boycott Countries | 0 | BoycottCountriesInd |
Schedule G IRS990ScheduleG
| Field | Value | IRS element (for citing) |
|---|---|---|
| Mail Solicitations | Yes (X) | MailSolicitationsInd |
| Phone Solicitations | Yes (X) | PhoneSolicitationsInd |
| In Person Solicitations | Yes (X) | InPersonSolicitationsInd |
| Special Fundraising Events | Yes (X) | SpecialFundraisingEventsInd |
| Agrmt Prof Fundraising Acty | Yes (1) | AgrmtProfFundraisingActyInd |
Fundraiser Activity Info FundraiserActivityInfoGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | ActivityActivityTxt | Fundraiser Control Of FundsFundraiserControlOfFundsInd | Gross ReceiptsGrossReceiptsAmt | Retained By ContractorRetainedByContractorAmt | Net To OrganizationNetToOrganizationAmt |
|---|---|---|---|---|---|---|---|---|
| BRUCE ERIK BERG | ||||||||
| 699 HYDE PARK AVENUE | ROSLINDALE | MA | 02131 | CONSULTING & SOLICITATION RESEARCH | 0 | $0 | $31,200 | $0 |
| MARC HARPIN | ||||||||
| 76 NORFOLK ROAD | CHESTNUT HILL | MA | 02467 | CONSULTING & SOLICITATION RESEARCH | 0 | $0 | $10,798 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Retained By Contractors | $41,998 | TotalRetainedByContractorsAmt |
| Licensed States | MA | LicensedStatesCd |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TOWN OF MILTON | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 525 CANTON AVENUE | AddressLine1Txt |
| City | MILTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02186 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRC Section | GOVERNMENT | IRCSectionDesc |
| Cash Grant | $125,000 | CashGrantAmt |
| Purpose Of Grant | VOLUNTARY GRANT | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (4 entries)
| Grant TypeGrantTypeTxt | RecipientRecipientCnt | Non Cash AssistanceNonCashAssistanceAmt | Valuation Method UsedValuationMethodUsedDesc | Non Cash AssistanceNonCashAssistanceDesc | Cash GrantCashGrantAmt |
|---|---|---|---|---|---|
| SCHOLARSHIPS | 263 | $10,837,145 | FAIR MARKET VALUE | FINANCIAL AID ASSISTANCE | |
| SCHOLARSHIPS - MOUNTAIN SCHOOL | 28 | $626,566 | FAIR MARKET VALUE | FINANCIAL AID ASSISTANCE | $0 |
| SUPPLEMENTAL FINANCIAL AID | 196 | $251,802 | FAIR MARKET VALUE | FINANCIAL AID ASSISTANCE | $0 |
| FACULTY FINANCIAL AID | 38 | $1,475,690 | FAIR MARKET VALUE | FINANCIAL AID ASSISTANCE | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 2: | MOST GRANT EXPENSE CONSISTS OF SCHOLARSHIP AWARDS WHICH ARE CREDITED DIRECTLY TO STUDENT ACCOUNTS AT THE ACADEMY. |
| PART III, COLUMN (B): | 163 OF THE STUDENTS THAT RECEIVED SUPPLEMENTAL FINANCIAL AID ARE PART OF THE SAME GROUP AS THE SCHOLARSHIPS WITH THE 263 RECIPIENTS. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Housing Allowance Or Residence | Yes (X) | HousingAllowanceOrResidenceInd |
| Personal Services | Yes (X) | PersonalServicesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | Yes (1) | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| THEODORICK BLAND | ||||||||||||||
| HEAD OF SCHOOL | $483,843 | $0 | $47,330 | $0 | $65,820 | $0 | $92,995 | $0 | $65,327 | $0 | $755,315 | $0 | $0 | $0 |
| ALDEN SMITH | ||||||||||||||
| DIR. OF THE MOUNTAIN SCHOOL | $155,026 | $0 | $0 | $0 | $0 | $0 | $12,922 | $0 | $26,147 | $0 | $194,095 | $0 | $0 | $0 |
| HEIDI VANDERBILT-BROWN | ||||||||||||||
| CHIEF FINANCIAL & OPERATING OFFICER | $239,806 | $0 | $0 | $0 | $18,500 | $0 | $21,285 | $0 | $8,284 | $0 | $287,875 | $0 | $0 | $0 |
| LISA WINICK | ||||||||||||||
| CHIEF ADVANCEMENT OFFICER | $225,409 | $0 | $0 | $0 | $36,249 | $0 | $20,133 | $0 | $56,155 | $0 | $337,946 | $0 | $0 | $0 |
| DAVID BALL | ||||||||||||||
| PRINCIPAL, UPPER SCHOOL | $153,244 | $0 | $0 | $0 | $18,500 | $0 | $13,787 | $0 | $35,272 | $0 | $220,803 | $0 | $0 | $0 |
| PAUL REBUCK | ||||||||||||||
| DEAN OF ADMISSION | $162,826 | $0 | $0 | $0 | $0 | $0 | $13,646 | $0 | $107,858 | $0 | $284,330 | $0 | $0 | $0 |
| EDWARD DONAHUE | ||||||||||||||
| CONTROLLER | $150,373 | $0 | $2,000 | $0 | $0 | $0 | $12,536 | $0 | $8,653 | $0 | $173,562 | $0 | $0 | $0 |
| DEBORAH O'TOOLE | ||||||||||||||
| CHIEF HUMAN RESOURCE OFFICER | $143,744 | $0 | $0 | $0 | $0 | $0 | $12,127 | $0 | $9,347 | $0 | $165,218 | $0 | $0 | $0 |
| CATHERINE CONNOLLY | ||||||||||||||
| DIRECTOR OF DEVELOPMENT | $179,116 | $0 | $0 | $0 | $0 | $0 | $14,218 | $0 | $15,660 | $0 | $208,994 | $0 | $0 | $0 |
| SAMANTHA E DIXON EVERSOLE | ||||||||||||||
| DIR. OF THE MILTON FUND & ADV. | $138,609 | $0 | $0 | $0 | $0 | $0 | $11,709 | $0 | $7,755 | $0 | $158,073 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | TRAVEL FOR COMPANIONS IS LIMITED TO THE HEAD OF SCHOOL AND IS DONE SO WITH DISCRETION ON A CASE BY CASE BASIS WHEN DEEMED APPROPRIATE. THE TRAVEL FOR COMPANIONS BENEFIT IS TREATED AS NONTAXABLE COMPENSATION. HOUSING BENEFITS ARE NORMATIVE FOR HEAD OF SCHOOL AND CERTAIN OTHER KEY EMPLOYEES, OFFICERS, AND HIGHLY COMPENSATED EMPLOYEES TO BE AVAILABLE TO STUDENTS 24 HOURS A DAY TO FULLFILL DUTIES. HOUSING BENEFITS ARE TREATED AS A NONTAXABLE WORKING CONDITION FRINGE BENEFIT. PERSONAL SERVICES ARE PROVIDED IN THE FORM OF HOUSE CLEANING AND IS TREATED AS NONTAXABLE COMPENSATION. |
| PART I, LINE 4B | THEODORICK BLAND RECEIVED A NON-TAXABLE CONTRIBUTION TOWARDS HIS 457(F) PROGRAM IN 2018 IN THE AMOUNT OF $70,995. |
| PART I, LINE 7 | BONUSES: ED DONAHUE $2,000, AS DETERMINED BY THE HEAD OF SCHOOL. THEODORICK BLAND $47,330, AS DETERMINED BY THE COMPENSATION COMMITTEE OF THE BOARD. |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (3 entries)
| Bond ReferenceBondReferenceCd | Bond Issuer EINBondIssuerEIN | CUSIPCUSIPNum | Bond IssuedBondIssuedDt | Issue PriceIssuePriceAmt | PurposePurposeDesc | DefeasedDefeasedInd | On Behalf Of IssuerOnBehalfOfIssuerInd | Pool FinancingPoolFinancingInd |
|---|---|---|---|---|---|---|---|---|
| MA DEV 2009 SERIES A | ||||||||
| A | 043431814 | SEESCHEDO | 2009-12-22 | $25,555,000 | TO FUND CONSTRUCTION | 0 | 0 | 0 |
| MA DEV 2009 SERIES B | ||||||||
| B | 043431814 | 57583RR64 | 2009-12-22 | $17,265,000 | TO FUND CONSTRUCTION | 0 | 0 | 0 |
| MA DEV 2009 SERIES C | ||||||||
| C | 043431814 | SEESCHEDO | 2009-12-22 | $9,610,000 | TO FUND CONSTRUCTION | 0 | 0 | 0 |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (3 entries)
| Bond ReferenceBondReferenceCd | Total ProceedsTotalProceedsAmt | In Reserve FundInReserveFundAmt | Refunding EscrowRefundingEscrowAmt | Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt | Capital ExpendituresCapitalExpendituresAmt | Other Spent ProceedsOtherSpentProceedsAmt | Substantial CompletionSubstantialCompletionYr | Refunding Tax Exempt BondsRefundingTaxExemptBondsInd | Refunding Taxable BondsRefundingTaxableBondsInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd |
|---|---|---|---|---|---|---|---|---|---|---|---|
| A | $27,392,506 | $2,604,808 | $12,919,895 | $230,083 | $8,499,062 | $3,138,658 | 2012 | 0 | Yes (1) | Yes (1) | Yes (1) |
| B | $17,199,963 | $24,511 | $17,025,315 | $150,137 | 2009 | 0 | Yes (1) | Yes (1) | Yes (1) | ||
| C | $10,496,436 | $970,247 | $9,469,000 | $57,189 | 2009 | 0 | 0 | Yes (1) | Yes (1) |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (3 entries)
| Bond ReferenceBondReferenceCd | Owning Bond Financed PropertyOwningBondFinancedPropertyInd | Any Lease ArrangementsAnyLeaseArrangementsInd | Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd | Any Research AgreementsAnyResearchAgreementsInd | Private Bus Use By OthersPrivateBusUseByOthersPct | Private Bus Concerning UBIPrivateBusConcerningUBIPct | Total Private Business UseTotalPrivateBusinessUsePct | Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd | Change In Use Bond Financed PropChangeInUseBondFinancedPropInd | Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd |
|---|---|---|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 0 | 0 | Yes (1) |
| C | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 0 | 0 | Yes (1) |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (3 entries)
| Bond ReferenceBondReferenceCd | Form8038 T FiledForm8038TFiledInd | Rebate Not Due YetRebateNotDueYetInd | Exception To RebateExceptionToRebateInd | No Rebate DueNoRebateDueInd | Variable Rate IssueVariableRateIssueInd | Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd | Superintegrated HedgeSuperintegratedHedgeInd | Hedge TerminatedHedgeTerminatedInd | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Business Name Line1GICProviderName/BusinessNameLine1Txt | Regulatory Safe Harbor StsfdRegulatorySafeHarborStsfdInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd | Business Name Line2HedgeProviderName/BusinessNameLine2Txt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NA | ||||||||||||||
| A | 0 | 0 | 0 | Yes (1) | 0 | 0 | 0 | 0 | 0 | NA | 0 | 0 | Yes (1) | |
| MA DEV FINANCE | ||||||||||||||
| B | 0 | 0 | 0 | Yes (1) | Yes (1) | Yes (1) | 0 | 0 | 0 | NA | 0 | 0 | Yes (1) | AGENCY |
| NA | ||||||||||||||
| C | 0 | 0 | 0 | Yes (1) | 0 | 0 | 0 | 0 | 0 | NA | 0 | 0 | Yes (1) | |
Procedures Corrective Action ProceduresCorrectiveActionGrp (3 entries)
| Bond ReferenceBondReferenceCd | Procedures Corrective ActionProceduresCorrectiveActionInd |
|---|---|
| A | Yes (1) |
| B | Yes (1) |
| C | Yes (1) |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| DATE REBATE COMPUTATION PERFORMED | ISSUER NAME: MA DEV 2009 SERIES A DATE THE REBATE COMPUTATION WAS PERFORMED: 02/14/2017 ISSUER NAME: MA DEV 2009 SERIES B DATE THE REBATE COMPUTATION WAS PERFORMED: 02/14/2017 ISSUER NAME: MA DEV 2009 SERIES C DATE THE REBATE COMPUTATION WAS PERFORMED: 02/14/2017 |
| SCHEDULE K, PART I AND II: | FOR BOND A, THE DIFFERENCE BETWEEN PART II, LINE 3 AND PART I, COLUMN (E) IS THE RESULT OF CUMULATIVE INVESTMENT EARNINGS. FOR BOND B, THE DIFFERENCE BETWEEN PART II, LINE 3 AND PART I, COLUMN (E) IS THE RESULT OF CUMULATIVE INVESTMENT EARNINGS. FOR BOND C, THE DIFFERENCE BETWEEN PART II, LINE 3 AND PART I, COLUMN (E) IS THE RESULT OF CUMULATIVE INVESTMENT EARNINGS. |
| FORM 990, SCHEDULE K, PART I, LINE A, COLUMN C: | CUSIP NUMBERS FOR THE MA DEV 2009 SERIES A BONDS ARE: 57583RQ40, 57583RR72, 57583RR57, 57583RR80, 57583RQ65, 57583RQ73 |
| FORM 990, SCHEDULE K, PART I, LINE C, COLUMN C: | CUSIP NUMBERS FOR THE MA DEV 2009 SERIES C BONDS ARE: 57583RQ81, 57583RQ99, 57583RR23, 57583RR64. |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 118 | ContributionCnt |
| Noncash Contributions Rpt F990 | $3,079,546 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FAIR MARKET VALUE | MethodOfDeterminingRevenuesTxt |
Other Non Cash Contri Table OtherNonCashContriTableGrp (2 entries)
| Non Cash CheckboxNonCashCheckboxInd | DescDesc | ContributionContributionCnt | Noncash Contributions Rpt F990NoncashContributionsRptF990Amt | Method Of Determining RevenuesMethodOfDeterminingRevenuesTxt |
|---|---|---|---|---|
| Yes (X) | HARP | 1 | $10,985 | FAIR MARKET VALUE |
| Yes (X) | BOOKS/CLOCKS | 3 | $3 | FAIR MARKET VALUE |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8283 Received | 0 | Form8283ReceivedCnt |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | Yes (1) | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | 0 | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, COLUMN (B): | FormAndLineReferenceDesc |
| Explanation | THE NUMBER LISTED IN PART I, COLUMN (B) REPRESENTS THE NUMBER OF ITEMS CONTRIBUTED. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | THE INFORMATION REQUESTED ON THE 990 IS GATHERED BY THE BUSINESS OFFICE STAFF. THE 990 FORM IS PREPARED BY OUR INDEPENDENT ACCOUNTING FIRM, CBIZ MHM. THE DRAFT FORM IS REVIEWED BY THE CONTROLLER, CFO, AND HEAD OF SCHOOL, PRIOR TO BEING REVIEWED AND APPROVED IN ITS ENTIRETY (INCLUDING THE SCHEDULE B - SCHEDULE OF CONTRIBUTORS) BY THE AUDIT COMMITTEE. THE ENTIRE FORM (EXCLUDING THE SCHEDULE B - SCHEDULE OF CONTRIBUTORS) IS MADE AVAILABLE ON THE TRUSTEE WEBSITE, BEFORE FILING, AND ALL TRUSTEES ARE NOTIFIED BY EMAIL THAT THE FORM 990 IS AVAILABLE FOR REVIEW ON THE TRUSTEE WEBSITE. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CONTROLLER'S OFFICE REVIEWS TRANSACTIONS WITH INTERESTED PERSONS (TRUSTEES, TRUSTEE COMMITTEE MEMBERS, AD COUNCIL MEMBERS, DEPARTMENT HEADS, OFFICERS, OR ANY OTHER PERSON IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE AT THE ORGANIZATION) TO ENSURE THAT CONFLICTS ARE DISCLOSED. ALL INTERESTED PERSONS MUST COMPLETE A CONFLICT OF INTEREST POLICY MEMORANDUM OF DISCLOSURE ANNUALLY AND SHALL UPDATE THE DISCLOSURE AT ANY TIME DURING THE YEAR WHENEVER A POTENTIAL OR APPARENT CONFLICT MAY ARISE. THE AUDIT COMMITTEE, THE HEAD OF SCHOOL, OR THE BOARD OF TRUSTEES, AS APPROPRIATE, SHALL ADDRESS CONFLICTS OF INTEREST INVOLVING INTERESTED PERSONS IN ACCORDANCE WITH THE STANDARDS SET FORTH IN THIS POLICY. PROCEDURES FOR ADDRESSING CONFLICTS OF INTEREST WITH INTERESTED PERSONS: 1) PROHIBITION. NO INTERESTED PERSON MAY ENTER INTO A TRANSACTION OR ARRANGEMENT WITH THE ORGANIZATION UNLESS THE FACTS OF SUCH TRANSACTION OR ARRANGEMENT, INCLUDING THE INTERESTED PERSON'S INTEREST THEREIN, HAVE BEEN FULLY DISCLOSED AND THE TRANSACTION OR ARRANGEMENT HAS BEEN EXPRESSLY AUTHORIZED BY THE DISINTERESTED MEMBERS OF THE AUDIT COMMITTEE OR THE BOARD OF TRUSTEES, AS APPLICABLE. 2) DUTY TO DISCLOSE. IN CONNECTION WITH ANY TRANSACTION OR ARRANGEMENT UNDER CONSIDERATION BY THE ORGANIZATION, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF SUCH INTERESTED PERSON'S OR ANY OTHER INTERESTED PERSON'S INTEREST TO THE ORGANIZATION'S AUDIT COMMITTEE. 3) PROCESS: A. AN INTERESTED PERSON MUST BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL FACTS TO THE AUDIT COMMITTEE OR BOARD OF TRUSTEES AT A MEETING CALLED FOR THE PURPOSE OF CONSIDERING THE TRANSACTION OR ARRANGEMENT AND THE INTERESTED PERSON'S INTEREST. AFTER THE INTERESTED PERSON'S PRESENTATION, THE INTERESTED PERSON SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, SUCH TRANSACTION OR ARRANGEMENT. B. THE CHAIR OF THE AUDIT COMMITTEE OR THE PRESIDENT OF THE BOARD OF TRUSTEES SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. C. AFTER EXERCISING DUE DILIGENCE, INCLUDING A REVIEW OF SURVEYS OF COMPARABLE DATA WHERE APPROPRIATE, THE AUDIT COMMITTEE OR BOARD OF TRUSTEES SHALL DETERMINE WHETHER THE ORGANIZATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. D. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE AUDIT COMMITTEE OR BOARD OF TRUSTEES SHALL DETERMINE BY A VOTE OF THE DISINTERESTED TRUSTEES OF THE AUDIT COMMITTEE OR THE BOARD OF TRUSTEES, AS APPLICABLE, WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE, AND THEREFORE WHETHER TO ENTER INTO SUCH TRANSACTION OR ARRANGEMENT. |
| FORM 990, PART VI, SECTION B, LINE 15 | IN SETTING, REVIEWING AND APPROVING THE COMPENSATION OF THE HEAD OF SCHOOL AND REVIEWING AND APPROVING THE COMPENSATION OF THE ADMINISTRATIVE COUNCIL, THE COMPENSATION COMMITTEE OF MILTON ACADEMY UTILIZES A THREE-PART PROCESS. THE PROCESS INCLUDES: IMPARTIAL DECISION MAKERS, COMPARABILITY DATA, AND CONCURRENT DOCUMENTATION. THE PROCEDURES ARE IN PLACE SO THAT PAYMENTS UNDER THE ORGANIZATION'S EXECUTIVE COMPENSATION ARRANGEMENTS ARE PRESUMED TO BE REASONABLE, UNDER TREAS. REG. SECTION 53.4958-6. 1. IMPARTIAL DECISION MAKERS. THE COMPENSATION ARRANGEMENT MUST BE APPROVED IN ADVANCE (BEFORE ANY PAYMENT IS MADE) BY THE COMPENSATION COMMITTEE OF MILTON ACADEMY COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT. 2. COMPARABILITY DATA. WHEN THE COMPENSATION COMMITTEE IS CONSIDERING COMPENSATION TO COVERED INDIVIDUALS, IT MUST RELY ON COMPARABILITY DATA THAT DEMONSTRATE THE FAIR MARKET VALUE OF THE COMPENSATION IN QUESTION. FOR EXAMPLE, WHEN CRAFTING COMPENSATION PACKAGES, THE COMPENSATION COMMITTEE MUST SECURE DATA THAT DOCUMENTS COMPENSATION LEVELS FOR SIMILARLY QUALIFIED INDIVIDUALS IN LIKE POSITIONS AT LIKE ORGANIZATIONS. POSSIBLE SOURCES INCLUDE, BUT ARE NOT NECESSARILY LIMITED TO: A) EXPERT COMPENSATION STUDIES BY INDEPENDENT FIRMS; B) SURVEY DATA FROM THE ASSOCIATION OF BUSINESS OFFICERS AT PREPARATORY SCHOOLS, NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS, ASSOCIATION OF INDEPENDENT SCHOOLS OF NEW ENGLAND, OR OTHER EDUCATIONAL ASSOCIATIONS C) WRITTEN JOB OFFERS FOR POSITIONS AT SIMILAR ORGANIZATIONS. 3. CONCURRENT DOCUMENTATION. THE COMPENSATION COMMITTEE MUST DOCUMENT HOW IT REACHED ITS DECISIONS, INCLUDING THE DATA ON WHICH IT RELIED. RECORDS MUST BE PREPARED BEFORE THE LATER OF THE NEXT MEETING OF THE AUTHORIZED BODY OR 60 DAYS AFTER THE FINAL ACTION OR ACTIONS OF THE AUTHORIZED BODY ARE TAKEN. RECORDS MUST BE REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE AS REASONABLE, ACCURATE AND COMPLETE WITHIN A REASONABLE TIME PERIOD THEREAFTER. TO QUALIFY AS CONCURRENT DOCUMENTATION, WRITTEN OR ELECTRONIC RECORDS OF THE COMPENSATION COMMITTEE (SUCH AS MEETING MINUTES) MUST NOTE: A) THE TERMS OF THE COMPENSATION AND THE DATE IT WAS APPROVED; B) THE MEMBERS OF THE COMPENSATION COMMITTEE WHO WERE PRESENT DURING THE DISCUSSION OF THE COMPENSATION THAT WAS APPROVED AND THOSE WHO VOTED ON IT; C) THE COMPARABILITY DATA OBTAINED AND RELIED UPON AND HOW THE DATA WAS OBTAINED; D) IF THE COMPENSATION COMMITTEE DETERMINES THAT REASONABLE COMPENSATION FOR A SPECIFIC ARRANGEMENT IS HIGHER OR LOWER THAN THE RANGE OF COMPARABILITY DATA OBTAINED, THE COMPENSATION COMMITTEE MUST RECORD THE BASIS FOR ITS DETERMINATION, AND E) ANY ACTIONS TAKEN WITH RESPECT TO CONSIDERATION OF THE COMPENSATION BY ANYONE WHO IS OTHERWISE A MEMBER OF THE COMPENSATION COMMITTEE BUT WHO HAD A CONFLICT OF INTEREST WITH RESPECT TO THE DECISION ON THE COMPENSATION. |
| FORM 990, PART VI, SECTION C, LINE 19 | MILTON ACADEMY MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC VIA ITS WEBSITE: WWW.MILTON.EDU. THE CONFLICT OF INTEREST POLICY IS ONLY AVAILABLE TO THE TRUSTEES OF MILTON ACADEMY. THE FORM 990 IS AVAILABLE UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | CHANGE IN SPLIT INTEREST AGREEMENTS -210,019. LOSS ON INTEREST RATE SWAP CONTRACT 61,229. |