FAY SCHOOL INC: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- FAY SCHOOL INC (EIN 04-2103573)
- Tax period
- 2011-07-01 to 2012-06-30
- Filed
- 2013-02-11
- IRS object ID
- 201330429349301423
- Schema version
- 2011v1.2
- 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 C
- Schedule D
- Schedule E
- Schedule I
- Schedule J
- Schedule K
- Schedule L
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-02-11T17:55:29-06:00 | Timestamp |
| Tax Period End Date | 2012-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 208014049 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | STONE & COMPANY LLC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 57 BEDFORD ST STE 225 | AddressLine1 |
| City | LEXINGTON | City |
| State | MA | State |
| ZIP Code | 024204443 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042103573 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE FAY SCHOOL INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | FAYS | NameControl |
| Phone | 5084850100 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 48 MAIN STREET | AddressLine1 |
| City | SOUTHBOROUGH | City |
| State | MA | State |
| ZIP Code | 017721595 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ALAN A CLARANCE | Name |
| Title | DIRECTOR OF FINANCE AND OPERATIONS | Title |
| Phone | 5084908211 | Phone |
| Date Signed | 2013-02-04 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | MATTHEW P STONE CPA | Name |
| PTIN | P00034719 | PTIN |
| Phone | 7818636300 | Phone |
| Date Prepared | 2013-02-04 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | ALAN A CLARANCE | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 48 MAIN STREET | AddressLine1 |
| City | SOUTHBOROUGH | City |
| State | MA | State |
| ZIP Code | 017721595 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 28299859 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.FAYSCHOOL.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1866 | YearFormation |
| State Legal Domicile | MA | StateLegalDomicile |
| Activity Or Mission Description | TO EDUCATE EACH CHILD TO HIS OR HER FULL POTENTIAL THROUGH A BROAD, BALANCED, AND CHALLENGING PROGRAM THAT ESTABLISHES A SOLID FOUNDATION FOR A PRODUCTIVE AND FULFILLING LIFE. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 30 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 30 | NbrIndependentVotingMembers |
| Total Nbr Employees | 256 | TotalNbrEmployees |
| Total Nbr Volunteers | 100 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 2134366 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 3300522 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 14254927 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 16314357 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 2601287 | InvestmentIncomePriorYear |
| Investment Income Current Year | 856066 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 130249 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 19120829 | TotalRevenuePriorYear |
| Total Revenue Current Year | 20470945 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 1204277 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 1528912 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 12026124 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 11261595 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 897717 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 9020837 | OtherExpensePriorYear |
| Other Expenses Current Year | 9370623 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 22251238 | TotalExpensesPriorYear |
| Total Expenses Current Year | 22161130 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -3130409 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -1690185 | RevenuesLessExpensesCY |
| Total Assets BOY | 113788930 | TotalAssetsBOY |
| Total Assets EOY | 109248996 | TotalAssetsEOY |
| Total Liabilities BOY | 60883247 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 65629322 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 52905683 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 43619674 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | TO EDUCATE EACH CHILD TO HIS OR HER FULL POTENTIAL THROUGH A BROAD, BALANCED, AND CHALLENGING PROGRAM THAT ESTABLISHES A SOLID FOUNDATION FOR A PRODUCTIVE AND FULFILLING LIFE. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 16157015 | Expense |
| Grants | 1528912 | Grants |
| Revenue | 14541407 | Revenue |
| Description | INSTRUCTION AND EDUCATION: FORMAL EDUCATION OF 466 STUDENTS GRADES PREK-9 IN CO-ED DAY & BOARDING SETTING.AS A DAY AND BOARDING SCHOOL FOR STUDENTS IN PRE-KINDERGARTEN THROUGH GRADE NINE, FAY SCHOOL IS A COMMUNITY BUILT ON FIVE CORE VALUES: ACADEMIC EXCELLENCE; HONORABLE CONDUCT; DEDICATED SERVICE; EARNEST EFFORT; AND WELLNESS OF MIND, BODY, AND SPIRIT. WHILE THE SCHOOL HAS GROWN AND EVOLVED SINCE ITS FOUNDING IN 1866, OUR CENTRAL PURPOSE HAS REMAINED CONSTANT. FAY PROVIDES A BROAD AND CHALLENGING PROGRAM THAT EMPOWERS STUDENTS TO DISCOVER THEIR TALENTS, DEVELOP THEIR INTELLECTUAL ABILITIES, ESTABLISH ESSENTIAL ACADEMIC SKILLS AND KNOWLEDGE, AND DEFINE THEIR MORAL CHARACTER. EARNEST EFFORT HAS BEEN (SEE SCH. O) EMPHASIZED THROUGHOUT THE SCHOOL'S HISTORY, AS ENSHRINED IN OUR MOTTO, POTERIS MODO VELIS ("YOU CAN IF YOU WILL"). FAY IS DEDICATED TO EDUCATING CHILDREN TO THEIR FULL POTENTIAL IN THE EARLY CHILDHOOD, ELEMENTARY, AND MIDDLE SCHOOL YEARS BY HELPING THEM RECOGNIZE AND DEVELOP THEIR INTELLECTUAL, AESTHETIC, PHYSICAL, SOCIAL, AND EMOTIONAL CAPABILITIES. WE TEACH OUR STUDENTS ESSENTIAL, ENDURING SKILLS: TO READ WELL, TO WRITE AND SPEAK CLEARLY AND COHERENTLY, TO REASON SOUNDLY, TO QUESTION THOUGHTFULLY, AND TO STUDY EFFECTIVELY. THESE SKILLS SUPPORT THEIR ABILITY TO LEAD, TO COLLABORATE, TO CREATE, AND TO SOLVE PROBLEMS.LOVE OF LEARNING BRINGS US TOGETHER, AND WE ENCOURAGE OUR STUDENTS TO BE CURIOUS, CREATIVE, AND OPEN TO NEW IDEAS. FAY'S SAFE AND SUPPORTIVE ENVIRONMENT ALLOWS STUDENTS TO TAKE RISKS AND ENCOURAGES THEM TO LEARN FROM MISTAKES, WITHIN THE CONTEXT OF HIGH EXPECTATIONS REGARDING ACADEMIC PERFORMANCE AND ETHICAL CONDUCT. OUR TEACHERS KNOW THEIR STUDENTS AS INDIVIDUALS AND HELP THEM COME TO KNOW THEMSELVES. AS FAY STUDENTS GROW, THEY DEVELOP AN UNDERSTANDING AND ACCEPTANCE OF THEIR OWN CHALLENGES AND STRENGTHS AS LEARNERS.HONESTY, RESPECT, RESPONSIBILITY, EMPATHY, AND KINDNESS INFORM OUR CONDUCT. THE DEVELOPMENT OF MANNERS, CIVILITY, AND INTEGRITY ARE HALLMARKS OF OUR SCHOOL. AT EVERY GRADE LEVEL, WE EMPHASIZE AN OBLIGATION TO HELP ENSURE THE WELL-BEING OF OTHERS. AS A HOME FOR BOARDING STUDENTS FROM MANY CULTURES AND BACKGROUNDS THROUGHOUT THE UNITED STATES AND AROUND THE WORLD, FAY IS AN INCLUSIVE COMMUNITY THAT RECOGNIZES, RESPECTS, AND CELEBRATES THE FULL RANGE OF HUMAN DIVERSITY.IN ALL OF THESE WAYS, FAY PREPARES OUR STUDENTS TO LEAD PRODUCTIVE AND FULFILLING LIVES THAT MAKE A POSITIVE DIFFERENCE IN THE WORLD. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 918296 | Expense |
| Grants | 5400 | Grants |
| Revenue | 871736 | Revenue |
| Description | SUMMER PROGRAMS PROVIDE DAILY TRAINING IN ENGLISH, MATHEMATICS, MUSIC, SWIMMING, ART AND VARIOUS SPORT PROGRAMS. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 1353380 | Expense |
| Revenue | 901214 | Revenue |
| Description | AUXILIARY SERVICES INCLUDE: FOOD SERVICE OFFERING BREAKFAST, LUNCH AND DINNER FOR STUDENTS; LAUNDRY FOR BOARDING STUDENTS; DAY STUDENT BUS TRANSPORTATION; BOOKSTORE AND INFIRMARY. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expense | 18428691 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 1 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 1 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 1 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 1 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 1 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 81 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 256 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 1 | QuidProQuoContributions |
| Quid Pro Quo Disclosure | 1 | QuidProQuoDisclosure |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 30 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 30 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 1 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | MA | StatesWhereCopyOfReturnIsFiled |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE FAY SCHOOL BUSINESS OFFICE | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 5084850100 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 48 MAIN STREET | AddressLine1 |
| City | SOUTHBOROUGH | City |
| State | MA | State |
| ZIP Code | 017721595 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (35 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Highest Compensated EmployeeHighestCompensatedEmployee | FormerFormer |
|---|---|---|---|---|---|---|---|---|
| ROBERT J GUSTAVSON JR | ||||||||
| HEAD OF SCHOOL/EX-OFFICIO | 37.50 | X | X | 333533 | 0 | 106417 | ||
| THOMAS MCKEAN ESQ | ||||||||
| PRESIDENT | 2.00 | X | X | 0 | 0 | 0 | ||
| PAULA BENTINCK-SMITH | ||||||||
| VICE PRESIDENT | 2.00 | X | X | 0 | 0 | 0 | ||
| CHARLES P PIEPER JR | ||||||||
| TREASURER | 2.00 | X | X | 0 | 0 | 0 | ||
| ELIZABETH T KELLOGG | ||||||||
| SECRETARY | 2.00 | X | X | 0 | 0 | 0 | ||
| ALAN F BROOKS | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| HERBERT L CAMP | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| TUSHARA CANEKERATNE | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| RICHARD B COMMONS | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| JAMES F CURTIS III | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| JAMES A DOLCE JR | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| MICHAEL J EGAN | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| MAUREEN FINLAYSON | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| JO GREYSTONE | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| DAVID W HARRIS | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| JOHN P LARI | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| DOUGLASS N LOUD | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| SARAH R MARS | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| JOHN R PARSONS JR | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| WILLIAM PICARDI | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| ANDREW PILARO | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| JAMES P SHAY | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| HARVEY I STEINBERG | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| CAMPBELL STEWARD | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| RAE-EUN SUNG | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| JOHN E THOMAS | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| ALBERT TING | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| CYNTHIA CONIGLIARO | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| BRIAN LIGHT | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| AE RUEPPEL | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| ROBERT SCUMACI | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| ALAN CLARANCE | ||||||||
| DIRECTOR OF FINANCE AND OP | 37.50 | X | 73729 | 0 | 21016 | |||
| DAVID LIEBMANN | ||||||||
| ASST. HEAD OF SCHOOL | 37.50 | 142125 | 0 | 24666 | X | |||
| MARIE RB BEAM | ||||||||
| DIRECTOR OF ADVANCEMENT | 37.50 | 142821 | 0 | 26448 | X | |||
| GARY REED | ||||||||
| FORMER DIRECTOR OF FINANCE AND OP | 37.50 | 154027 | 0 | 14610 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 846235 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 193157 | TotalOtherCompensation |
| Number Individuals GT100 K | 4 | NumberIndividualsGT100K |
| Formers Listed | 1 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (3 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| ERLAND CONSTRUCTION INC | |||||
| 83 SECOND AVENUE | BURLINGTON | MA | 01803 | BUILDING CONTRACTOR | 773771 |
| CONCIERGE SERVICES FOR STUDENTS LTD | |||||
| 800 BOYLSTON STREET SUITE 1530 | BOSTON | MA | 02119 | CONCIERGE SERVICES | 136456 |
| DEGIACOMO WOODWORKING | |||||
| 131 FRAMINGHAM ROAD | MARLBORO | MA | 01752 | WOODWORKING | 117968 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 3 | NumberOfContractorsGT100K |
| All Other Contributions | 3300522 | AllOtherContributions |
| Total Contributions | 3300522 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| TUITION AND FEES | 611710 | 15811904 | 15811904 |
| AUXILIARY SERVICES | 611710 | 386351 | 386351 |
| OTHER REVENUES | 611710 | 116102 | 116102 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 16314357 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 881786 | TotalRevenueColumn |
| Exclusion | $881,786 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 7803194 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 7828914 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -25720 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -25720 | TotalRevenueColumn |
| Exclusion | -$25,720 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 20470945 | TotalRevenueColumn |
| Related Or Exempt Function Income | 16314357 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $856,066 | ExclusionAmount |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1528912 | Total |
| Program Services | 1528912 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 537833 | Total |
| Management And General | 537833 | ManagementAndGeneral |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8234975 | Total |
| Program Services | 7160571 | ProgramServices |
| Management And General | 655384 | ManagementAndGeneral |
| Fundraising | 419020 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 368809 | Total |
| Program Services | 318415 | ProgramServices |
| Management And General | 28826 | ManagementAndGeneral |
| Fundraising | 21568 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1487760 | Total |
| Program Services | 1364938 | ProgramServices |
| Management And General | 94706 | ManagementAndGeneral |
| Fundraising | 28116 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 632218 | Total |
| Program Services | 516251 | ProgramServices |
| Management And General | 94867 | ManagementAndGeneral |
| Fundraising | 21100 | Fundraising |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 149476 | Total |
| Fundraising | 149476 | Fundraising |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 781994 | Total |
| Program Services | 209176 | ProgramServices |
| Management And General | 496804 | ManagementAndGeneral |
| Fundraising | 76014 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 142918 | Total |
| Program Services | 4118 | ProgramServices |
| Management And General | 138800 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 218223 | Total |
| Program Services | 183299 | ProgramServices |
| Management And General | 5856 | ManagementAndGeneral |
| Fundraising | 29068 | Fundraising |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 82008 | Total |
| Program Services | 4965 | ProgramServices |
| Management And General | 77043 | ManagementAndGeneral |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1345482 | Total |
| Program Services | 1278208 | ProgramServices |
| Management And General | 67274 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3042422 | Total |
| Program Services | 2890301 | ProgramServices |
| Management And General | 152121 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 165024 | Total |
| Program Services | 26710 | ProgramServices |
| Management And General | 138314 | ManagementAndGeneral |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| CONTRACT SERVICES | 653491 | 627409 | 16899 | 9183 |
| UTILITIES | 534419 | 534419 | ||
| FOOD | 521300 | 517782 | 3447 | 71 |
| MATERIALS & SUPPLIES | 301967 | 282870 | 15117 | 3980 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1431899 | Total |
| Program Services | 980347 | ProgramServices |
| Management And General | 311431 | ManagementAndGeneral |
| Fundraising | 140121 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 22161130 | Total |
| Program Services | 18428691 | ProgramServices |
| Management And General | 2834722 | ManagementAndGeneral |
| Fundraising | 897717 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2888515 | BOY |
| EOY | 3665053 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 938167 | BOY |
| EOY | 2009880 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4698833 | BOY |
| EOY | 5121066 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 73618 | BOY |
| EOY | 80976 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 311620 | BOY |
| EOY | 415152 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 85698064 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 22372942 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 65842629 | BOY |
| EOY | 63325122 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 37913946 | BOY |
| EOY | 33549162 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1121602 | BOY |
| EOY | 1082585 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 113788930 | BOY |
| EOY | 109248996 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3929840 | BOY |
| EOY | 2936925 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 9201050 | BOY |
| EOY | 9886480 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 43000000 | BOY |
| EOY | 42215000 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4752357 | BOY |
| EOY | 10590917 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 60883247 | BOY |
| EOY | 65629322 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 26906915 | BOY |
| EOY | 22212846 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4745642 | BOY |
| EOY | 4119286 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 21253126 | BOY |
| EOY | 17287542 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 52905683 | BOY |
| EOY | 43619674 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 113788930 | BOY |
| EOY | 109248996 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | -1690185 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -7595824 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School170b1 Aii | X | School170b1Aii |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| 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) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | 0 | Volunteers |
| Paid Staff Or Management | 0 | PaidStaffOrManagement |
| Media Advertisements | 0 | MediaAdvertisements |
| Mailings Members | 0 | MailingsMembers |
| Publications Or Broadcast | 0 | PublicationsOrBroadcast |
| Grants Other Organizations | 0 | GrantsOtherOrganizations |
| Direct Contact Legislators | 0 | DirectContactLegislators |
| Rallies Demonstrations | 0 | RalliesDemonstrations |
| Other Activities | 1 | OtherActivities |
| Total Lobbying Expenditures IIB | 0 | TotalLobbyingExpendituresIIB |
Form990 Schedule C Part IV Form990ScheduleCPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | EXPLANATION OF LOBBYING ACTIVITIES: | Identifier |
| Return Reference | PART II-B, LINE 1: | ReturnReference |
| Explanation | THE FAY SCHOOL BELONGS TO MEMBER ORGANIZATIONS, WHICH MAY ENGAGE IN LOBBYING ACTIVITIES. SOME PORTION OF MEMBERSHIP DUES MAY BE UTILIZED FOR LOBBYING ACTIVITIES. | Explanation |
Schedule D IRS990ScheduleD
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 37913946 | BeginningOfYearBalance |
| Contributions | 602857 | Contributions |
| Investment Earnings Or Losses | -700568 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 285463 | GrantsOrScholarships |
| Other Expenditures | 3981610 | OtherExpenditures |
| End Of Year Balance | 33549162 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 32794703 | BeginningOfYearBalance |
| Contributions | 1182249 | Contributions |
| Investment Earnings Or Losses | 7973644 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 950840 | GrantsOrScholarships |
| Other Expenditures | 3085810 | OtherExpenditures |
| End Of Year Balance | 37913946 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 29518342 | BeginningOfYearBalance |
| Contributions | 1603286 | Contributions |
| Investment Earnings Or Losses | 4897098 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 698952 | GrantsOrScholarships |
| Other Expenditures | 2525071 | OtherExpenditures |
| End Of Year Balance | 32794703 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 31233819 | BeginningOfYearBalance |
| Contributions | 3630134 | Contributions |
| Investment Earnings Or Losses | -5345611 | InvestmentEarningsOrLosses |
| End Of Year Balance | 29518342 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.45000 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.51000 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.04000 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 0 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 6737582 | OtherCostOrOtherBasis |
| Book Value | 6737582 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 61163707 | OtherCostOrOtherBasis |
| Depreciation | 17330341 | Depreciation |
| Book Value | 43833366 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 6767781 | OtherCostOrOtherBasis |
| Depreciation | 1917607 | Depreciation |
| Book Value | 4850174 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 11028994 | OtherCostOrOtherBasis |
| Depreciation | 3124994 | Depreciation |
| Book Value | 7904000 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 63325122 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (3 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| DUE TO PARENTS ASSOCIATION | $39,687 |
| INTEREST RATE SWAP LIABILITY | $9,801,230 |
| LINE OF CREDIT | $750,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 10590917 | TotalOfAmounts |
| Total Revenue | 20470945 | TotalRevenue |
| Total Expenses | 22161130 | TotalExpenses |
| Excess Or Deficit For Year | -1690185 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -1554929 | NetUnrealizedGLOnInvestments |
| Other | -$6,040,895 | OtherAmount |
| Total Adjustments | -7595824 | TotalAdjustments |
| Excess Or Deficit Per FS | -9286009 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 11346209 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | -1554929 | NetUnrealizedGainsInvestments |
| Other Revenues | -6040895 | OtherRevenues |
| Revenue Not Rptd F990 | -7595824 | RevenueNotRptdF990 |
| Revenue Subtotal | 18942033 | RevenueSubtotal |
| Other Revenues Not Included | 1528912 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 1528912 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 20470945 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 20632218 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 20632218 | ExpensesSubtotal |
| Other Expenses Not Included | 1528912 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 1528912 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 22161130 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (6 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: | PART V, LINE 4: | THE ENDOWMENT SUPPORTS THE EDUCATIONAL MISSION OF THE SCHOOL BY PROVIDING SUPPORT FOR FINANCIAL AID FOR STUDENTS, FACULTY COMPENSATION AND CONTINUING EDUCATION, SCHOOL PROGRAMS AND FACILITIES AS WELL AS GENERAL SUPPORT FOR SCHOOL OPERATIONS. |
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X: | PART X, LINE 2: THE SCHOOL ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. THE SCHOOL HAS IDENTIFIED ITS TAX STATUS AS A TAX EXEMPT ENTITY AS A TAX POSITION; HOWEVER, THE SCHOOL HAS DETERMINED THAT SUCH TAX POSITION DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. THE SCHOOL IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. THE SCHOOL'S FEDERAL AND STATE TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. |
| PART XI, LINE 8 - OTHER ADJUSTMENTS: | CHANGE IN VALUES OF SPLIT-INTEREST AGREEMENTS -14,615. MARKET ADJUSTMENT ON INTEREST RATE SWAP AGREEMENT -6,026,280. TOTAL TO SCHEDULE D, PART XI, LINE 8: -6,040,895. | |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT -14,615. MARKET ADJUSTMENT ON INTEREST RATE SWAP AGREEMENT -6,026,280. | |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | FINANCIAL AID AWARDS 1,528,912. | |
| PART XIII, LINE 4B - OTHER ADJUSTMENTS: | FINANCIAL AID AWARDS 1,528,912. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | 1 | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | 1 | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | 1 | PolicyPublViaBroadcastMedia |
| Maint Racial Composition Records | 1 | MaintRacialCompositionRecords |
| Maint Scholarships Records | 1 | MaintScholarshipsRecords |
| Maint Copies Of Brochures Etc | 1 | MaintCopiesOfBrochuresEtc |
| Maint Copies Of All Solicitations | 1 | MaintCopiesOfAllSolicitations |
| Discriminate Race Students Rights | 0 | DiscriminateRaceStudentsRights |
| Discriminate Race Admiss Policies | 0 | DiscriminateRaceAdmissPolicies |
| Discriminate Race Emplmn Faculty | 0 | DiscriminateRaceEmplmnFaculty |
| Discriminate Race Scholarships | 0 | DiscriminateRaceScholarships |
| Discriminate Race Educ Policies | 0 | DiscriminateRaceEducPolicies |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFclts |
| Discriminate Race Athletic Prog | 0 | DiscriminateRaceAthleticProg |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActy |
| Government Financial Aid Received | 0 | GovernmentFinancialAidReceived |
| Government Financial Aid Revoked | 0 | GovernmentFinancialAidRevoked |
| Compliance With Rev Proc7550 | 1 | ComplianceWithRevProc7550 |
Form990 Schedule E Part II Form990ScheduleEPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION | Identifier |
| Return Reference | SCHEDULE E, PART I, LINE 3 | ReturnReference |
| Explanation | THE FAY SCHOOL IS INCLUDED IN THE GROUP LISTING OF INDEPENDENT SCHOOLS, WHOSE RACIALLY NONDISCRIMINATORY POLICY IS DISCLOSED IN THE BOSTON GLOBE EACH FALL. | Explanation |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | FINANCIAL AID AND SCHOLARSHIPS BASED ON THE FAMILIES' NEEDS | TypeOfGrant |
| Number Of Recipients | 67 | NumberOfRecipients |
| Amount Of Non Cash Assistance | 1528912 | AmountOfNonCashAssistance |
| Method Of Valuation | FMV OF PUBLISHED TUITION RATES | MethodOfValuation |
| Description Of Non Cash Assistance | TUITION ASSISTANCE | DescriptionOfNonCashAssistance |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | Identifier |
| Return Reference | PART I, LINE 2: | ReturnReference |
| Explanation | SCHEDULE I, PART I, LINE 2: THE FAY SCHOOL OFFERS FINANCIAL AID OR SCHOLARSHIP ASSISTANCE TO FAMILIES WITH A DEMONSTRATED FINANCIAL NEED. TO APPLY, PARENTS MUST COMPLETE THE PARENTS' FINANCIAL STATEMENTS (PFS) AND SUBMIT THAT TO THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID IN PRINCETON, N.J. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Idemnification Gross Up Payments | X | IdemnificationGrossUpPayments |
| Discretionary Spending Account | X | DiscretionarySpendingAccount |
| Housing Allowance Or Residence | X | HousingAllowanceOrResidence |
| Personal Services | X | PersonalServices |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 1 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (4 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROBERT J GUSTAVSON JR | |||||||||||||
| 333533 | 0 | 0 | 0 | 0 | 0 | 50000 | 0 | 56417 | 0 | 439950 | 0 | 0 | 0 |
| DAVID LIEBMANN | |||||||||||||
| 142125 | 0 | 0 | 0 | 0 | 0 | 15500 | 0 | 9166 | 0 | 166791 | 0 | 0 | 0 |
| MARIE RB BEAM | |||||||||||||
| 142821 | 0 | 0 | 0 | 0 | 0 | 15759 | 0 | 10689 | 0 | 169269 | 0 | 0 | 0 |
| GARY REED | |||||||||||||
| 154027 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14610 | 0 | 168637 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | PART I, LINE 1A | ReturnReference |
| Explanation | ON OCCASION DURING THE YEAR ENDED JUNE 30, 2012, THE SPOUSE OF THE HEAD OF SCHOOL TRAVELLED TO EVENTS REPRESENTING THE SCHOOL. THE HEAD OF SCHOOL HAS A DISCRETIONARY SPENDING ALLOWANCE TO BE USED FOR SCHOOL EXPENSES NOT INDENTIFIED IN THE BUDGET PROCESS. AS A CONDITION OF EMPLOYMENT AND IN ORDER TO PERFORM HIS DUTIES THE HEAD OF SCHOOL IS REQUIRED TO LIVE ON CAMPUS IN A SCHOOL OWNED PROPERTY. THIS BUILDING IS CLEANED AND MAINTAINED BY SCHOOL PERSONNEL AND OUTSIDE CONTRACTORS. INCLUDED IN ROBERT GUSTAVSON'S COLUMN D IS AN AMOUNT FOR 5% OF THE VALUE OF THE PROPERTY INCLUDING UTILITIES TOTALLING $49,250. | Explanation |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MASSACHUSETTS DEVELOPMENT FINANCE AGENCY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Issuer EIN | 043431814 | IssuerEIN |
| CUSIP Number | 57583RTZ8 | CUSIPNumber |
| Date Issued | 2008-03-27 | DateIssued |
| Issue Price | 43000000 | IssuePrice |
| Description Of Purpose | CONSTRUCTION AND EQUIPPING OF EXPANDED FACILITIES AT THE SCHOOL. | DescriptionOfPurpose |
| Defeased | 0 | Defeased |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Pool Financing | 0 | PoolFinancing |
Form990 Schedule K Part II Form990ScheduleKPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Proceeds | 43000000 | TotalProceeds |
| Issuance Costs From Proceeds | 732046 | IssuanceCostsFromProceeds |
| Capital Expenditures | 40060981 | CapitalExpenditures |
| Other Spent Proceeds | 2206973 | OtherSpentProceeds |
| Year Of Subst Completion | 2010 | YearOfSubstCompletion |
| Current Refunding | 0 | CurrentRefunding |
| Advance Refunding | 0 | AdvanceRefunding |
| Final Allocation Made | 1 | FinalAllocationMade |
| Adequate Books And Recds Maintaind | 1 | AdequateBooksAndRecdsMaintaind |
Form990 Schedule K Part III Form990ScheduleKPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Owning Bond Financed Property | 0 | OwningBondFinancedProperty |
| Any Lease Arrangements | 0 | AnyLeaseArrangements |
| Mngment Cntrct Bond Financd Prprty | 0 | MngmentCntrctBondFinancdPrprty |
| Any Research Agreements | 0 | AnyResearchAgreements |
| Post Issuance Compliance Procdrs | 1 | PostIssuanceComplianceProcdrs |
Form990 Schedule K Part IV Form990ScheduleKPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8038 T Filed | 0 | Form8038TFiled |
| Variable Rate Issue | 1 | VariableRateIssue |
| Hedge Identified In Books And Recds | 1 | HedgeIdentifiedInBooksAndRecds |
Name Of Hedge Provider NameOfHedgeProvider
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MORGAN STANLEY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Term Of Hedge | 30.000000000000 | TermOfHedge |
| Superintegrated Hedge | 0 | SuperintegratedHedge |
| Hedge Terminated | 0 | HedgeTerminated |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGIC |
| Gross Proceeds Invested | 0 | GrossProceedsInvested |
| Exception To Rebate | 0 | ExceptionToRebate |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV
Name Of Interested Person NameOfInterestedPerson
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | JOHN THOMAS | NamePerson |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship | MEMBER OF THE SCHOOL'S BOARD OF TRUSTEES | Relationship |
| Amount Of Transaction | 4851 | AmountOfTransaction |
| Description Of Transaction | DURING THE YEAR ENDED JUNE 30, 2012, THE SCHOOL OBTAINED VARIOUS ENGINEERING AND MASTER PLANNING CONSULTING SERVICES FROM BEALS & THOMAS, FOR WHICH MR. THOMAS IS THE PRESIDENT AND STOCKHOLDER. MR. THOMAS IS NO LONGER A BOARD MEMBER EFFECTIVE SEPTEMBER 10,2012. | DescriptionOfTransaction |
| Sharing Of Revenues | 0 | SharingOfRevenues |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 10 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 82473 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | FMV ON DATE OF GIFT | MethodOfDeterminingRevenues |
Other Non Cash Contributions Table OtherNonCashContributionsTable (5 entries)
| Non Cash CheckboxNonCashCheckbox | DescriptionDescription | Number Of ContributionsNumberOfContributions | Noncash Contribs Rptd F990NoncashContribsRptdF990 | Method Of Determining RevenuesMethodOfDeterminingRevenues |
|---|---|---|---|---|
| X | TABLE | 1 | 5000 | PURCHASE PRICE |
| X | BREAKFAST | 1 | 1456 | PURCHASE PRICE |
| X | FISH TANKS | 1 | 100 | PURCHASE PRICE |
| X | SYMPHONY HALL TICKETS | 1 | 130 | PURCHASE PRICE |
| X | 125 DONATED BOOKS | 1 | 1310 | PURCHASE PRICE |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 1 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 1 | ThirdPartiesUsed |
Form990 Schedule M Part II Form990ScheduleMPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | THIRD PARTY USE: | Identifier |
| Return Reference | PART I, LINE 32B: | ReturnReference |
| Explanation | THE SCHOOL USES AN INVESTMENT COMPANY, SANDERS MORRIS HARRIS, TO PROCESS AND SELL STOCK GIFTS. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (7 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 4 | THE SCHOOL'S BOARD OF TRUSTEES AMENDED THE BY-LAWS OF THE ORGANIZATION TO CHANGE THE HEAD OF SCHOOL FROM A VOTING TRUSTEE TO AN EX-OFFICIO MEMBER. THE NEW BY-LAWS ALSO CHANGED THE ORGANIZATIONS NON-DISCRIMINATION DISCLOSURE. | |
| FORM 990, PART VI, SECTION B, LINE 11 | THE 990 IS SPECIFICALLY REVIEWED BY THE MEMBERS OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, DIRECTOR OF FINANCE AND OPERATIONS AND THE ASSISTANT DIRECTOR OF FINANCE AND OPERATIONS BEFORE IT IS FILED. | |
| FORM 990, PART VI, SECTION B, LINE 12C | AT THE FIRST BOARD MEETING EACH YEAR (OCT/NOV) EACH TRUSTEE COMPLETES A CONFLICT OF INTEREST STATEMENT THAT IS HELD IN THE HEAD OF THE SCHOOL'S OFFICE FOR THE YEAR. THE POLICY GETS REVIEWED PRIOR TO AUDIT AND UPDATED ANNUALLY. FAY SCHOOL CURRENTLY FOLLOWS NAIS GUIDELINES FOR ITS WHISTLE BLOWER AND DOCUMENT RETENTION AND DESTRUCTION POLICIES. THE SCHOOL HAS FORMALIZED ITS OWN POLICIES AND IS INCLUDING THEM IN THEIR BY-LAWS. | |
| FORM 990, PART VI, SECTION B, LINE 15 | THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES DETERMINES THE COMPENSATION FOR THE HEAD OF SCHOOL, ASSISTANT HEAD OF SCHOOL AND THE DIRECTOR OF FINANCE AND OPERATIONS.THE HEAD OF SCHOOL AND THE ASSISTANT HEAD OF SCHOOL HAVE WRITTEN CONTRACTS. THE INFORMATION INCLUDED FOR THIS COMPENSATION REVIEW INCLUDES A REBUTTABLE PRESUMPTION CHECKLIST AMONG OTHER PROCEDURES. ALL OTHER PERSONNEL SALARIES ARE DETERMINED BY THE HEAD OF SCHOOL WITH INPUT FROM THE DIRECTOR OF FINANCE AND OPERATIONS. | |
| FORM 990, PART VI, SECTION C, LINE 18 | THE ORGANIZATION'S TAX FILINGS ARE AVAILABLE ONLINE FOR VIEWING AT WWW.GUIDESTAR.ORG, A WEBSITE USED TO RATE NON-PROFITS FOR POTENTIAL DONORS. THE TAX FILINGS ARE ALSO AVAILABLE AT THE MASSACHUSETTS ATTORNEY GENERAL'S DIVISION FOR PUBLIC CHARITIES WEBSITE AND AT THE SCHOOL. | |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE ONLINE FOR VIEWING AT WWW.GUIDESTAR.ORG, A WEBSITE USED TO RATE NON-PROFITS FOR POTENTIAL DONORS. THE TAX FILINGS ARE ALSO AVAILABLE AT THE MASSACHUSETTS ATTORNEY GENERAL'S DIVISION FOR PUBLIC CHARITIES WEBSITE AND AT THE SCHOOL. | |
| FORM 990, PART XI, LINE 5: | NET UNREALIZED LOSSES ON INVESTMENTS: -1,554,929. CHANGE IN VALUES OF SPLIT-INTEREST AGREEMENTS -14,615. MARKET ADJUSTMENT ON INTEREST RATE SWAP AGREEMENT -6,026,280. TOTAL TO FORM 990, PART XI, LINE 5: -7,595,824. | CHANGES IN NET ASSETS OR FUND BALANCES: |