2019-05-14T16:22:24-05:00 2018-06-30 222428965 CITRIN COOPERMAN & COMPANY LLP 10 FORBES ROAD WEST BRAINTREE MA 02184 990 2017-07-01 042103564 GOVERNOR DUMMER ACADEMY THE GOVERNOR'S ACADEMY GOVE 9784651763 1 ELM STREET BYFIELD MA 01922 CHRISTOPHER V WEJCHERT CHIEF FINANCIAL OFFICER 9784651763 2019-05-10 1 ALEXANDRIA REGAN P02179800 7813562000 2019-05-10 108.26.157.114 2019-05-10 10:27:30 ED P 49DB8D9D364C94C32B2B2145AB6A19D67A1FF27B 10247F11AEF0D80D007DBEEF1D83121917CA109F 2017 2019-02-21 02:37:17Z CHRISTOPHER V WEJCHERT 1 ELM STREET BYFIELD MA 01922 51270377 0 X WWW.THEGOVERNORSACADEMY.ORG X 1763 MA THE GOVERNOR'S ACADEMY IS THE OLDEST CONTINUOUSLY OPERATED BOARDING AND DAY SCHOOL IN THE U.S., WHERE YOUNG MEN AND WOMEN IN GRADES 9 THROUGH 12 PREPARE TO BECOME THE CITIZEN LEADERS OF TOMORROW. MORE THAN 400 STUDENTS FROM 23 STATES AND 18 COUNTRIES CREATE A VIBRANT, FASCINATING GLOBAL COMMUNITY. TWO-THIRDS BOARD AND ONE-THIRD ARE DAY STUDENTS. THE ACADEMY SITS ON A BEAUTIFUL 450-ACRE CAMPUS WITH EXTENSIVE FACILITIES FOR ACADEMICS, ATHLETICS, AND VISUAL AND PERFORMING ARTS. 25 25 260 500 0 201473 3725292 12278991 22419897 23158885 10460363 8896928 327612 517810 36933164 44852614 4522516 4892061 0 0 14590328 15309989 0 0 2858881 11463087 12170069 30575931 32372119 6357233 12480495 136135658 146452272 32717930 32308503 103417728 114143769 X THE GOVERNOR'S ACADEMY, FOUNDED IN 1763 ON NEW ENGLAND FARMLAND, COMBINES CENTURIES OF TRADITION WITH A DEDICATION TO EDUCATIONAL INNOVATION. STUDENTS FLOURISH IN A DIVERSE COMMUNITY DISTINGUISHED BY ENDURING RELATIONSHIPS WITH TEACHERS AND DEFINED BY A COMMITMENT TO LEARNING AND A THOUGHTFUL BALANCE OF ACADEMICS, ATHLETICS, ARTS AND SERVICE TO OTHERS. ACADEMY GRADUATES ARE LIFE-LONG LEARNERS WHO EMBRACE THEIR CIVIC DUTY AND GLOBAL RESPONSIBILITY. 0 0 24171794 4892061 31198188 INNOVATION AND A FORWARD FOCUS ARE AS MUCH A PART OF GOVERNOR'S AS OUR 255-YEAR-OLD HISTORY. THE ACADEMY OFFERS A FULL RANGE OF VISUAL AND PERFORMING ARTS, MORE THAN 50 INTERSCHOLASTIC ATHLETICS TEAMS, AND DOZENS OF SERVICE, LEADERSHIP, CULTURAL, AND RECREATIONAL ACTIVITIES. GOVERNOR'S ATHLETIC TEAMS REGULARLY COMPETE IN LEAGUE AND NEW ENGLAND CHAMPIONSHIPS. ANNUALLY ARTISTS AND WRITERS AT THE ACADEMY WIN DOZENS OF REGIONAL AND NATIONAL AWARDS. ACADEMY GRADUATES GO ON TO ATTEND SOME OF THE TOP COLLEGES AND UNIVERSITIES IN THE WORLD. 24171794 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 135 0 1 260 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X CHRISTOPHER V WEJCHERT 9784651763 1 ELM STREET BYFIELD MA 01922 JAMES M PIERCE PRESIDENT 5.00 X X 0 0 0 JAMES L RUDOLPH VICE PRESIDENT 5.00 X X 0 0 0 STEVEN G SHAPIRO TREASURER 5.00 X X 0 0 0 WILLIAM L ALFOND TRUSTEE 5.00 X 0 0 0 WILLIAM H BRINE TRUSTEE 5.00 X 0 0 0 KATHRYN A BURNS TRUSTEE 5.00 X 0 0 0 BYUNG SOO BAIK TRUSTEE 5.00 X 0 0 0 COLIN CROSS TRUSTEE 5.00 X 0 0 0 FRANCESCA E DEMEO SECRETARY 5.00 X X 0 0 0 JONATHAN J DOYLE TRUSTEE 5.00 X 0 0 0 STEPHEN G KASNET TRUSTEE 5.00 X 0 0 0 BRUCE GINSBERG TRUSTEE 5.00 X 0 0 0 MITZI LAWLOR TRUSTEE 5.00 X 0 0 0 THOMAS M MERCER JR TRUSTEE 5.00 X 0 0 0 MEREDITH MCPHERRON TRUSTEE 5.00 X 0 0 0 KAREN RUTH MCALMON MD TRUSTEE 5.00 X 0 0 0 FELIX MOTTA TRUSTEE 5.00 X 0 0 0 PAUL NARDONE TRUSTEE 5.00 X 0 0 0 SPENCER L PURINTON TRUSTEE 5.00 X 0 0 0 ARCHIE SEALE TRUSTEE 5.00 X 0 0 0 AARON M SELLS TRUSTEE 5.00 X 0 0 0 DAVID SPLAINE TRUSTEE 5.00 X 0 0 0 CAROLINE WARREN TRUSTEE 5.00 X 0 0 0 MARK B WHISTON TRUSTEE 5.00 X 0 0 0 WILLIAM DWYER TRUSTEE 5.00 X 0 0 0 PETER QUIMBY HEAD OF SCHOOL 50.00 X 317785 0 36770 JOHN DOGGETT HEAD OF SCHOOL EMERITUS 40.00 X 135093 0 9076 WILLIAM DEPTULA DIRECTOR OF ADVANCEMENT 50.00 X 255562 0 34438 CHRISTOPHER WEJCHERT CFO 50.00 X 223239 0 31702 LYNDA FITZGERALD DEAN OF FACULTY 50.00 X 124640 0 20573 MICHAEL KINNEALY DIRECTOR OF ADMISSIONS 50.00 X 118598 0 30829 RAYMOND GOODMAN DIRECTOR OF LEADERSHIP GIF 50.00 X 120101 0 27871 1295018 0 191259 15 0 1 0 CAPE & ISLAND CORP PO BOX 1100 POCASSET MA 02559 TRACK RENOVATION 388822 CHAD DANUSIS DBA DANUSIS CONSTRUCTION 27 MOKINGBIRD LANE NEW MARKET NH 03857 BUILDING CONTRACTOR 340228 PBSC 360 PEARL STREET MALDEN MA 02148 CLEANING CONTRACTOR 322894 UNITY BUILDING TECHNOLOGIES 6 BLACKJACK ROSSING WALPOLE NH 03608 BUILDING CONTRACTOR 172884 US SECURITY ASSOCIATES INC PO BOX 931703 ATLANTA GA 31193 SECURITY CONTRACTORS 154420 8 72946 12206045 12278991 TUITION 611600 22135798 22135798 SUMMER PROGRAMS 713990 666492 666492 STUDENT FEE INCOME 611710 356595 356595 23158885 1165751 1165751 208934 0 208934 208934 208934 13945213 750 6214786 0 7730427 750 7731177 7730427 750 23966 72946 23966 0 245110 179011 66099 66099 MISCELLANEOUS 900099 226812 226812 MAINTENANCE 900099 15965 15965 242777 44852614 31198188 0 1375435 4892061 4892061 594888 297444 148722 148722 10020732 7975842 1070018 974872 3940008 1429357 2346804 163847 754361 491699 242560 20102 851647 636869 189778 25000 26484 1417 25067 162911 40997 50134 71780 396142 162410 194557 39175 1427903 1427903 34961 34961 126168 45639 74033 6496 960952 960952 2005945 1885589 100297 20059 262328 33 262295 CAMPAIGN PROJECT EXPENS 1100292 1100292 OPERATIONS & MAINTENANC 863821 615719 206752 41350 OUTSIDE STAFFING 705503 705503 COST OF GOODS SOLD 577294 577294 2667718 2025066 430427 212225 32372119 24171794 5341444 2858881 43832 45772 5361148 7039490 1748747 7380910 59989 70181 33334 31250 84195 106449 625043 713465 92352749 31398534 61100723 60954215 1261727 1060473 65816920 69050067 136135658 146452272 727268 1283469 5397426 5959713 19170000 18370000 3547117 3362232 3876119 3333089 32717930 32308503 X 69042551 71340539 6897627 13784352 27477550 29018878 103417728 114143769 136135658 146452272 12480495 -1754454 0 X 0 1 X 1 0 X X 0 67078647 1399815 6034136 4402058 70110540 63884636 397663 7291662 4495314 67078647 69590255 744420 -1662857 4787182 63884636 72361068 1297756 1131864 5200433 69590255 66131748 709845 9555821 4036346 72361068 0.57300 0.38580 0.04120 0 0 74067376 23633801 50433575 8297094 5666912 2630182 9988279 2097821 7890458 60954215 LIMITED PARTNERSHIPS 7323765 F BENEFICIAL INTEREST IN PHILLIPS TRUSTS 7901170 F CHARITABLE GIFT ANNUITIES 481159 F ALTERNATIVE INVESTMENTS 53343973 C 69050067 ANNUITIES PAYABLE 189936 INTEREST RATE SWAP 3143153 3333089 X 42763523 -1754454 4557424 2802970 39960553 4892061 4892061 44852614 32037482 4557424 4557424 27480058 4892061 4892061 32372119 PART III, LINE 4: VARIOUS PAINTINGS THAT ARE DISPLAYED IN THE LIBRARY WHICH WERE DONATED TO THE SCHOOL. PART V, LINE 4: THE ACADEMY'S ENDOWMENT FUNDS ARE USED TO SUPPORT MULTIPLE AREAS INCLUDING THE GENERAL OPERATIONS OF THE ACADEMY. THE ENDOWMENT HELPS SUPPORT FINANCIAL AID, FACULTY SALARIES AND BENEFITS, COMMENCEMENT PRIZES, PHYSICAL PLANT AND OTHER EXPENDITURES. TEMPORARY RESTRICTED GIFTS CAN HELP SUPPORT UNIFORMS, MUSICAL INSTRUMENTS, PROFESSIONAL DEVELOPMENT AND VISITING SPEAKERS, FINANCIAL AID FOR SPECIFIC NEEDS, AND BOOKS. PART X, LINE 2: THE ACADEMY IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "CODE") AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE ACADEMY IS SUBJECT TO FEDERAL AND STATE INCOME TAXES ON UNRELATED BUSINESS INCOME, IF ANY. THE ACADEMY ACCOUNTS FOR UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH FASB ASC TOPIC INCOME TAXES. THE TOPIC PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PROCESS FOR FINANCIAL STATEMENT RECOGNITION OF UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE TOPIC ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AT JUNE 30, 2018, MANAGEMENT BELIEVES THAT THE ACADEMY HAS NO MATERIAL UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: ENDOWMENT APPROPRIATIONS FOR OPERATIONS AND DEBT SERVICE 4,354,447. FUNDRAISING EXPENSES INCLUDED IN INCOME 23,966. COST OF GOODS SOLD APPLIED AGAINST INCOME 179,011. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 4,892,061. PART XII, LINE 2D - OTHER ADJUSTMENTS: ENDOWMENT APPROPRIATION DRAW 4,354,447. FUNDRAISING EXPENSES INCLUDED IN INCOME 23,966. COST OF GOODS SOLD APPLIED AGAINST INCOME 179,011. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 4,892,061. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 GOVERNOR DUMMER ACADEMY PUBLICIZES ITS NONDISCRIMINATORY POLICY ON A SCHOOL BULLETIN AND IN BROCHURES. X X X X X 0 MA GOLF TOURNAMENT 33765 9799 23966 23966 2 63147 63147 96912 72946 23966 23966 23966 0 1 FINANCIAL AID 112 4892061 FMV SCHOLARSHIPS/FINANCIAL AID PART I, LINE 2: FINANCIAL AID IS ALLOCATED ON A NEED BASED BASIS AT THE GOVERNOR'S ACADEMY. FOR NEW APPLICANTS TO THE SCHOOL, WE REQUIRE FAMILIES TO SUBMIT INCOME AND ASSET INFORMATION TO SSS, A FINANCIAL AID ASSESSMENT ORGANIZATION THAT OPERATES WITHIN NAIS. SSS PROVIDES FOR US A RECOMMENDED FAMILY CONTRIBUTION (RFC) AND, TO OUR ABILITY AND AFTER OUR EVALUATION OF A FAMILY'S SUBMISSION, WE WILL PROVIDE FINANCIAL AID TO A FAMILY THAT REPRESENTS THE DIFFERENCE BETWEEN THE RFC AND THE COST OF TUITION. WITH RESPECT TO MONITORING THE STUDENTS OVER TIME, FAMILIES MUST SUBMIT A FINANCIAL AID APPLICATION EACH YEAR AND THE RFC IS USED TO DETERMINE A FINANCIAL AID ALLOCATION EACH YEAR. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 PETER QUIMBY HEAD OF SCHOOL 317785 0 0 0 0 0 11119 0 25651 0 354555 0 0 0 WILLIAM DEPTULA DIRECTOR OF ADVANCEMENT 208162 0 0 0 47400 0 12953 0 21485 0 290000 0 0 0 CHRISTOPHER WEJCHERT CFO 223239 0 0 0 0 0 13840 0 17862 0 254941 0 0 0 A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57583RGN9 2006-08-01 15000000 CONSTRUCTION OF DORM, MAINTENANCE BLDG, HOCKEY RINK,TURF FIELD,TENNIS COURTS 0 1 0 A 15000000 295724 14704276 2007 0 0 1 1 A 0 0 0 0 1 0 1 A 0 0 1 0 1 0 0 0 0 A 1 PETER QUIMBY HEAD OF SCHOOL FACULTY HOUSING LOAN X 125000 31250 0 1 1 31250 X 9 593711 FMV X MISCELLANEOUS DONATED AUCTION ITEMS 3 8977 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B AFTER BEING DRAFTED BY THE TAX PREPARERS AND REVIEWED BY THE DIRECTOR OF FINANCE AND THE CHIEF FINANCIAL OFFICER, A VERSION OF THE FORM 990 IS SENT TO THE AUDIT COMMITTEE, INCLUDING THE TREASURER, FOR REVIEW BY THE COMMITTEE. ANY QUESTIONS RAISED BY COMMITTEE MEMBERS ARE BROUGHT BACK TO THE CFO AND THE TAX PREPARERS. ONCE QUESTIONS HAVE BEEN ANSWERED AND ANY NEEDED CHANGES MADE, A FINAL VERSION OF THE FORM 990 IS PROVIDED TO THE BOARD OF TRUSTEES BEFORE THE FILING DATE. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS ISSUED ONCE A YEAR WITH AN ACKNOWLEDGEMENT TO BE SIGNED ASSURING THAT THE READER IS AWARE AND WILL COMPLY. ONCE THE ACKNOWLEDGEMENT IS SIGNED IT IS FILED IN THE CFO'S OFFICE. FORM 990, PART VI, SECTION B, LINE 15 THE HEAD OF SCHOOL'S COMPENSATION IS REVIEWED BY THE PRESIDENT OF THE BOARD AND THE OFFICERS OF THE ACADEMY, WITH SUPPORT FROM THE CFO'S OFFICE WHICH PROVIDES RELEVANT AND COMPARABLE SALARY DATA FOR THIS POSITION. THE CFO'S SALARY IS SET BY THE HEAD OF SCHOOL. THE HEAD OF SCHOOL AND THE CFO WORK TOGETHER IN SETTING THE FACULTY AND STAFF SALARY POOL, INCLUDING ANTICIPATED TURNOVER AND A BUDGET FOR REPLACEMENT PERSONNEL. ALL SALARY RECOMMENDATIONS ARE THEN INCORPORATED INTO THE DRAFT FISCAL YEAR BUDGET WHICH IS PRESENTED TO THE FINANCE COMMITTEE FOR REVIEW AND APPROVAL. THE FULL BOARD THEN APPROVES THE BUDGET FOR IMPLEMENTATION. THE ORGANIZATION BENCHMARKS AND ANALYZES SALARIES AGAINST DATA FROM NATIONAL AND REGIONAL SCHOOL ASSOCIATIONS. FORM 990, PART VI, SECTION C, LINE 18 THE FORM 990 IS AVAILABLE VIA A WRITTEN OR TELEPHONE REQUEST TO THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.