2016-05-16T08:21:42-05:00 2015-06-30 GRANT THORNTON LLP 75 STATE STREET BOSTON MA 02109 990 2014-07-01 042103632 Tabor Academy % CHRISTOPHER J WINSLOW TABO 5087482000 66 Spring Street Marion MA 02738 CHRISTOPHER J WINSLOW CFO 6177237900 2016-05-16 true ROBERT J BUTLER JR P00037953 6177237900 2016-05-16 2014 2016-08-17 19:52:53Z John H Quirk 66 Spring street Marion MA 02738 34150186 false X www.taboracademy.org X 1876 MA A coeducational college prepatory boarding and day school that provides distinctive opportunities for students. 21 21 269 23 -7290 -16690 10433493 3209628 25511932 27097229 1370094 639512 0 0 37315519 30946369 5471175 6193775 0 0 13936291 14188873 0 0 1600046 10563509 11373442 29970975 31756090 7344544 -809721 98026004 97756317 21288444 21119361 76737560 76636956 TABOR ACADEMY FOCUSES ITS ACADEMIC PROGRAMS TO INSPIRE A LIFE-LONG LOVE OF LEARNING, TO INSTILL A PASSION FOR THE HIGHEST STANDARDS OF ACHIEVEMENT, TO ENCOURAGE PERSONAL RESPONSIBILITY, AND TO FOSTER CARE FOR OTHERS AND COMMITTED CITIZENSHIP. false false 90009 25621740 6193775 27097229 Tabor Academy educates approximately 500 students. As the "School By the Sea," Tabor sustains a unique maritime heritage that embodies, in all its programs, the qualities a seagoing life requires: Thoughtful preparation for, and awareness of the wider world, perseverance, courage, good humor, a sense of direction, and humility. Tabor's faculty commit themselves to balancing high demands with genuine affection for their students and to fostering relationships founded on the compassion, personal integrity, and trust that anchor tabor's community. 25621740 true true false false false false false false false true true true false true true true true false true false false false false false false false false false true true true false false false false false false false false false false true false false false false true false false false true 100 0 true 269 true false false false false false true true false false false false false X 21 21 false false false false false false false true true false false true true true true true true true true false MA X X CHRISTOPHER J WINSLOW 5082918370 66 SPRING STREET Marion MA 02738 X CARMINE A MARTIGNETTI chairman 2.0 0.0 X X 0 0 PAUL J MURPHY vice-chair and SECRETARY 2.0 0.0 X X 0 0 david a barrett treasurer 2.0 0.0 X X 0 0 elizabeth welsh eyler secretary 2.0 0.0 X X 0 0 CLEMENT C BENENSON TRUSTEE 1.0 0.0 X 0 0 keith n browning TRUSTEE 1.0 0.0 X JOANNE M FALLON TRUSTEE 1.0 0.0 X 0 0 anthony featherstone trustee (as of 5/2/15) 1.0 0.0 X 0 0 0 PETER T FRANCIS TRUSTEE 1.0 0.0 X 0 0 KRISTIANE C GRAHAM TRUSTEE 1.0 0.0 X 0 0 SUSAN S GROSART TRUSTEE (thru 5/2/15) 1.0 0.0 X 0 0 ANGUS H LEARY TRUSTEE 1.0 0.0 X 0 0 JENNIFER C NOERING MCINTIRE TRUSTEE 1.0 0.0 X 0 0 WILLIAM L PHELPS TRUSTEE 1.0 0.0 X 0 0 TRAVIS ROY TRUSTEE 1.0 0.0 X 0 0 GARRARD K SCHAEFER TRUSTEE 1.0 0.0 X 0 0 Regina Shakin TRUSTEE (as of 5/2/15) 1.0 0.0 X 0 0 0 phillips g smith TRUSTEE 1.0 0.0 X 0 0 JAMES A TOMLINSON TRUSTEE 1.0 X 0 0 DAVID WALLACE TRUSTEE (thru 5/2/15) 1.0 0.0 X Sumner Waring TRUSTEE (as of 5/2/15) 1.0 0.0 X 0 0 0 LOUIS S WOLFE TRUSTEE 1.0 0.0 X 0 0 GEOFFREY H WORRELL TRUSTEE 1.0 0.0 X 0 0 JOHN H QUIRK HEAD OF SCHOOL 40.0 0.0 X 239678 52772 PAUL C WHITE Bus. Mgr. thru 5/14 & Faculty 40.0 0.0 X 179514 38358 Christopher j winslow CFO (as of 5/12/14) 40.0 0.0 X 107483 17595 MARK AIMONE DIRECTOR OF ADVANCEMENT 40.0 0.0 X 129612 0 66866 ANDREW L MCCAIN DIRECTOR OF ADMISSIONS 40.0 0.0 X 110082 109287 DONALD B WING PLANT OPERATIONS 40.0 0.0 X 141943 32262 RICHARD E ROLLER ASSISTANT HEAD OF SCHOOL 40.0 0.0 X 118842 22567 Robert r thompson director of planned giving 40.0 0.0 X 101510 17006 1128664 0 356713 10 false true false saltonstall architects inc 30 wareham st MARION MA 02738 architectural design 131720 GRANT THORNTON LLP 75 STATE STREET BOSTON MA 02109 ACCOUNTING 124136 above the line programming group 12 lafayette ave HINGHAM MA 02043 video production 113612 3 3209628 781571 3209628 TUITION 611710 26353890 26353890 STUDENT AND AUXILIARY ACTIVITIES 611710 743339 743339 27097229 615455 -7367 622822 0 0 0 0 0 3181998 45785 3203817 -21819 45785 24057 77 23980 0 0 0 0 30946369 27097229 -7290 646802 0 6193775 6193775 0 0 1104725 267706 672385 164634 0 9659953 8078774 777957 803222 1410534 1179207 114253 117074 1235804 1033132 100100 102572 777857 650289 63006 64562 0 24433 24433 108211 108211 0 0 289207 289207 1369009 1214989 83430 70590 189513 61955 39782 87776 451649 256584 159823 35242 291343 6812 263507 21024 0 2064338 1686209 378129 170040 12576 39332 118132 0 144006 125951 2837 15218 427215 427215 0 1953467 1953467 238041 238041 INSTRUCTION 777818 777818 STUDENT SUPPORT 802778 802778 WATERFRONT 383580 383580 ADMINISTRATIVE 560989 560989 1127805 936138 191667 31756090 25621740 4534304 1600046 7307155 2853370 635428 4827710 6806711 5088057 570344 475510 0 0 0 0 458097 411763 0 0 987374 824861 73013436 35356920 34589817 37656516 23162113 21666532 14013289 14527703 0 0 0 0 9495676 9424295 98026004 97756317 2892345 3339779 0 0 0 0 9400000 9150000 0 0 0 0 780000 519000 0 0 8216099 8110582 21288444 21119361 X 22370166 23265991 29728748 28352374 24638646 25018591 76737560 76636956 98026004 97756317 X -809721 790928 -81811 X false true X true false X 2112300 3460448 4457404 10433493 3209628 23673273 0 0 2112300 3460448 4457404 10433493 3209628 23673273 1490463 22182810 307140 317331 285580 320919 622821 1853791 0 37800 23550 25801 87151 25614215 130643605 0.86604 0.88954 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 40654782 694446 778155 660979 612317 216704 40637383 36506097 758254 5503587 647998 841652 177853 41100435 28051916 408131 3953206 497475 751099 144321 31020358 29297987 709880 -606965 476188 757643 115155 28051916 26105406 405804 4191726 496656 801288 107005 29297987 0.18364 0.36738 0.44897 false false 659759 659759 55085413 26558550 28526863 3139553 1325431 1814122 10356493 7472939 2883554 3772218 3772218 37656516 INVESTMENT IN PARTNERSHIPS 14527703 F 14527703 BENEFICIAL INTEREST IN PERPETU 7895354 BENEFICIAL INTEREST IN CHARITA 1129054 TRUST INCOME RECEIVABLE 99643 STOCK IN TRANSIT 67293 OTHER RECEIVABLES 232951 9424295 0 ADVANCED TUITION AND DEPOSIT 4364197 ACCRUED PENSION LIABILITY 1038539 INTEREST RATE SWAP AGREEMENT 1886486 ANNUITIES PAYABLE 821361 8110583 X 25053341 790928 -81811 709117 24344224 216704 6385441 6602145 30946369 25153945 25153945 216704 6385441 6602145 31756090 Schedule D, Part V, Line 4 Endowment serves to support scholarships, faculty, academic and extracurricular programs, and general administration of the school. Schedule D, Part X, Line 2 The Academy is a not-for-profit organization as described in Section 501(c)(3) of the Internal Revenue Code, as amended (the Code), and is generally exempt from income taxes pursuant to Section 501(a) of the Code. The Academy is required to assess uncertain tax positions and has determined that there were no such positions that are material to the financial statements. Part XI, Line 2d change in value of split interest agreements ($297,776) change in value of interest rate swap ($135,918) pension related changes $351,883 ------------- TOTAL ($81,811) Part XI and XII, Lines 4b scholarships $6,193,775 legal settlements $191,666 -------------- total $6,385,441 true true true true true true true false false false false false false false false false true nondiscrimination policy PArt I, Line 3 Tabor is founded on the belief that a healthy school community finds common ground while embracing differences and, therefore, accepts a racially, ethnically, religiously, economically, and internationally diverse student body. To cultivate and sustain a more diverse and inclusive community, Tabor Academy recognizes that our success as a 21st century school is embedded in a genuine understanding of how the components of diversity reflect the core values of our mission, which is rooted in compassion, respect, trust, honesty, and personal responsibility. Diversity at Tabor encompasses race, ethnicity, gender, socio-economic status, religion, intellectual and physical ability, gender expression, sexual orientation, age, family structure, language and geographic place of origin. We recognize that the establishment of policies, practices, and programs that support the interconnectedness of these cultural identifiers and further develop the cultural competency of our community's members will allow for true dialogue and collaboration within our school and with local, regional, national, and international communities. To that end, we commit ourselves to being a community in which all members have voice, are given respect, and see their identities reflected and affirmed in the curriculum, co-curriculum, and physical and virtual environments of the school. Tabor Academy promulgates each year, its nondiscriminatory policies through several ads in local and regional newspapers during the period of solicitation of students. true STUDENT scholarships 193 6193775 Schedule I, Part I, Line 2 All grants are scholarships awarded by demonstrated need in the form of tuitioY remission, and they can only be used to reduce the amount of tuition owed by a given family for an academic year. Need is determined by analyzing tax forms and/or other information from School Scholarship Service, Princeton, NJ. X X X X X true true X X X X false false false false false false false false false JOHN H QUIRK HEAD OF SCHOOL 239498 0 180 16944 35828 292450 0 PAUL C WHITE Bus. Mgr. thru 5/14 & Faculty 178722 0 792 21939 16419 217872 0 MARK AIMONE DIRECTOR OF ADVANCEMENT 129459 0 0 0 153 0 8221 0 58645 0 196478 0 0 0 ANDREW L MCCAIN DIRECTOR OF ADMISSIONS 109963 119 11544 97743 219369 DONALD B WING PLANT OPERATIONS 139615 2328 17078 15184 174205 Schedule J, Part I, Line 1a FIRST CLASS TRAVEL International Air Travel - The Head of School (HOS) and Director of Advancement may travel via first class on overseas trips (more than 7 hours) but only if travel reward programs can be used therefore lowering the cost. Travel by Train - The HOS and Director of advancement on occasion use Amtrak first class travel to NYC for Board and Advancement meetings. Use of train first class significantly improves work productivity and the cost difference is minimal this benefit is not considered taxable income to the head of school or dIRECTOR of advancement. TRAVEL FOR COMPANIONS ON A LIMITED BASIS, THE HEAD OF SCHOOL'S SPOUSE ACCOMPANIES HIM AT SCHOOL RELATED EVENTS AS A REPRESENTATIVE OF THE ACADEMY. THIS BENEFIT IS NOT CONSIDERED TAXABLE INCOME TO THE HEAD OF SCHOOL. Housing and Personal Services Consistent with the Academy's unique boarding school environment, the Academy provides a residence for personal use. Pursuant to his employment contract, the Head of School is required to live in close proximity to campus to serve his duties and responsibilities to the Academy, including entertaining students, faculty, and other constituents, and to provide guidance and a safe, welcoming learning environment for students. The residence is furnished for the convenience of the Academy and is not considered taxable income to the Head of School. The Academy is also responsible for maintaining the residence for the Head of School. Any portion of the maintenance that is considered personal in nature is taxable compensation to the Head of School. SOCIAL CLUB DUES THE ACADEMY PROVIDES THE HEAD OF SCHOOL WITH A LIMITED MEMBERSHIP TO THE BEVERLY YACHT CLUB AND LOCAL GOLF CLUB. BOTH MEMBERSHIPS ARE FOR THE CONVENIENCE OF THE ACADEMY AND ITS STUDENTS AND IS NOT CONSIDERED TAXABLE COMPENSATION TO THE HEAD OF SCHOOL. CONVENIENCE OF THE ACADEMY AND ITS STUDENTS AND IS NOT CONSIDERED TAXABLE COMPENSATION TO THE HEAD OF SCHOOL. Schedule J, Part I, Line 2 Substantiation of Expenses The Academy reimburses all employees, including Officers and highest compensated employees, for expenses incurred while conducting business of the Academy. All expenses are reviewed by the CFO prior to reimbursement. Schedule J, Part I, Line 4 Severance Agreements John H. Quirk, head of school, has an employment agreement that provides severance based on annual compensation, based only in the event of involuntary termination. No payments were made during calendar year ended December 31, 2014, or fiscal year ended June 30, 2015 under the terms of this agreement. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57583RJN6 2009-09-01 13715000 REFUNDING 2007 SERIES false false false A 0 0 13715000 0 0 0 0 0 0 0 0 0 2004 true false true true A false false false false 0 false false false false A true true false 0 false 0 false false A false Part III Line 9, Part IV Line 7, and Part V The Academy is in the process of working with bond council to ensure that all appropriate bond policies and procedures are put into place. X 469 FMV X 4 BOOK X 42 781571 FMV X Food/dining/events 9 19653 fmv X Sports Equipment 2 2657 fmv X Other 3 24954 fmv 27 false true false Schedule M, Part I, Column (b) the number reported in Part I column (b) identifies the number of items received. Schedule M, Part I, Line 7, Column (c) The contribution value reported on Part I Line 7 column (c) is consistent with the value reported on the audited financial statements. Form 990 Review Process Form 990, Part VI, Line 11B TABOR ACADEMY HAS ENGAGED A NATIONALLY RECOGNIZED TAX ADVISORY FIRM TO PREPARE THE FORM 990 WITH INFORMATION PROVIDED BY MANAGEMENT. ONCE COMPLETED, THE FORM 990 IS PRESENTED TO THE AUDIT COMMITTEE BY THE ACADEMY'S TAX ADVISORY FIRM AND CHIEF FINANCIAL OFFICER. PRIOR TO THE FORM 990 BEING FILED WITH THE IRS, THE MEMBERS OF THE BOARD OF TRUSTEES ARE PROVIDED WITH A HARDCOPY AND ELECTRONIC COPY OF THE FORM 990 ACCOMPANIED BY A LETTER CO-SIGNED BY THE AUDIT COMMITTEE CHAIRPERSON AND ACADEMY'S CHIEF FINANCIAL OFFICER CERTIFYING THAT THE FORM 990 HAS BEEN REVIEWED AND APPROVED BY MANAGEMENT. Conflict of Interest Policy Monitoring & Enforcement Form 990, Part VI, Line 12c All board members and officers are required to complete, on an annual basis, a conflict of interest questionnaire provided by the Chief Financial Officer as part of the Audit Committee report. The questionnaires are reviewed by the Chair of the Board and the Chief Financial Officer, as appropriate. In the event that a board member does disclose a conflict, those persons are recused from discussions and do not vote on resolutions that pertain directly to that conflict. Review of Compensation Form 990, Part VI, Lines 15a and 15b Compensation for the Head of School was determined prior to validating his employment contract. At that time, the board of trustees utilized data gathered by the Association of Business Officers of Private Schools (ABOPS) to identify comparative compensation based on officers in similar roles at peer institutions. The head of school's employment contract delineates a fixed salary increase for a three year period, which was subject to review and approval by the board prior to execution of the contract. Review of compensation of other officers is performed by the head of school using similar comparative data. How Documents are Made Available to the Public Form 990, Part VI, Line 19 The Academy's financial statements, governing documents, and conflict of interest policy are made available upon request. The Academy's audited financial statements and form 990 are available online at the website of the Massachusetts Attorney General. Other Changes in Net Assets or Fund Balances Form 990, Part XI, Line 9 Changes in Value of Split Interest Agreement ($297,776) Change in value of interest rate swap ($135,918) Pension related changes other than net periodic cost $351,883 ________________________________________________________________________ ($81,811) Charitable Remainder Trusts (6) Trusts MA Trust true