FAY SCHOOL INC: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- FAY SCHOOL INC (EIN 04-2103573)
- Tax period
- 2010-07-01 to 2011-06-30
- Filed
- 2012-03-12
- IRS object ID
- 201240729349300619
- Schema version
- 2010v3.4
- 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 G
- Schedule I
- Schedule J
- Schedule K
- Schedule L
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-03-12T11:51:05-05:00 | Timestamp |
| Tax Period End Date | 2011-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
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 | 2010-07-01 | 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 CLARANCE | Name |
| Title | DIRECTOR OF FINANCE AND OPERATIONS | Title |
| Phone | 5084908211 | Phone |
| Date Signed | 2012-03-02 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | MATTHEW P STONE CPA | Name |
| Phone | 7818636300 | Phone |
| Date Prepared | 2012-03-02 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | 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 | 33642496 | 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 THE WHOLE CHILD TO HIS/HER FULLEST POTENTIAL IN PREPARATION FOR A PRODUCTIVE AND FULFILLED LIFE. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 27 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 26 | NbrIndependentVotingMembers |
| Total Nbr Employees | 258 | TotalNbrEmployees |
| Total Nbr Volunteers | 100 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 1239682 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 2134366 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 12574856 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 14254927 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 1860022 | InvestmentIncomePriorYear |
| Investment Income Current Year | 2601287 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 5485 | OtherRevenuePriorYear |
| Other Revenue Current Year | 130249 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 15680045 | TotalRevenuePriorYear |
| Total Revenue Current Year | 19120829 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 1167096 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 1204277 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 9155148 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 12026124 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 892565 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 7730643 | OtherExpensePriorYear |
| Other Expenses Current Year | 9020837 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 18052887 | TotalExpensesPriorYear |
| Total Expenses Current Year | 22251238 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -2372842 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -3130409 | RevenuesLessExpensesCY |
| Total Assets BOY | 109342119 | TotalAssetsBOY |
| Total Assets EOY | 113788930 | TotalAssetsEOY |
| Total Liabilities BOY | 60442782 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 60883247 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 48899337 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 52905683 | NetAssetsOrFundBalancesEOY |
| Mission Description | TO EDUCATE THE WHOLE CHILD TO HIS/HER FULLEST POTENTIAL IN PREPARATION FOR A PRODUCTIVE AND FULFILLED LIFE | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 16720859 | Expense |
| Grants | 1204277 | Grants |
| Revenue | 12919355 | Revenue |
| Description | INSTRUCTION AND EDUCATION: FORMAL EDUCATION OF 431 STUDENTS GRADES PREK-9 IN CO-ED DAY & BOARDING SETTING. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 681102 | Expense |
| Grants | 3200 | Grants |
| Revenue | 639786 | 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 | 1317539 | Expense |
| Revenue | 695786 | 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 | 18719500 | 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 | 0 | 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 | 1 | 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 | 83 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 258 | 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 |
| Excess Business Holdings | 0 | ExcessBusinessHoldings |
| Taxable Distributions | 0 | TaxableDistributions |
| Distribution To Donor | 0 | DistributionToDonor |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 27 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 26 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | 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 (30 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|---|---|---|
| ROBERT J GUSTAVSON JR | ||||||||
| HEAD OF SCHOOL | 37.50 | X | X | X | X | 210575 | 0 | 103285 |
| THOMAS MCKEAN ESQ | ||||||||
| PRESIDENT | 2.00 | X | 0 | 0 | 0 | |||
| PAULA BENTINCK-SMITH | ||||||||
| VICE PRESIDENT | 2.00 | X | 0 | 0 | 0 | |||
| CHARLES P PIEPER JR | ||||||||
| TREASURER | 2.00 | X | 0 | 0 | 0 | |||
| ELIZABETH T KELLOGG | ||||||||
| SECRETARY | 2.00 | 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 | |||
| JUDITH S THOFT | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| JOHN E THOMAS SR | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| ALBERT K TING | ||||||||
| TRUSTEE | 2.00 | X | 0 | 0 | 0 | |||
| GARY E REED | ||||||||
| DIRECTOR OF FINANCE AND OP | 37.50 | X | X | X | 162778 | 0 | 46750 | |
| DAVID LIEBMANN | ||||||||
| ASST. HEAD OF SCHOOL | 37.50 | X | 135551 | 0 | 32685 | |||
| MARIE RB BEAM | ||||||||
| DIRECTOR OF ADVANCEMENT | 37.50 | X | 130921 | 0 | 34058 | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 639825 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 216778 | TotalOtherCompensation |
| Number Individuals GT100 K | 4 | NumberIndividualsGT100K |
| Formers Listed | 0 | 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 | 2026017 |
| CONCIERGE SERVICES FOR STUDENTS LTD | |||||
| 800 BOYLSTON STREET SUITE 1530 | BOSTON | MA | 02119 | CONCIERGE SERVICES | 152411 |
| PINCK & COMPANY | |||||
| 98 MAGAZINE STREET 3RD FLOOR | BOSTON | MA | 02199 | CONSTRUCTION MANAGEMENT CONSULTING | 116420 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 3 | NumberOfContractorsGT100K |
| All Other Contributions | 2134366 | AllOtherContributions |
| Total Contributions | 2134366 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| TUITION AND FEES | 611710 | 13939654 | 13939654 |
| AUXILIARY SERVICES | 611710 | 280014 | 280014 |
| OTHER REVENUES | 611710 | 35259 | 35259 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 14254927 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 629143 | TotalRevenueColumn |
| Exclusion | $629,143 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 16454120 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 14481976 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 1972144 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1972144 | TotalRevenueColumn |
| Exclusion | $1,972,144 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Fundraising Events | 169940 | GrossIncomeFundraisingEvents |
| Fundraising Direct Expenses | 39691 | FundraisingDirectExpenses |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 130249 | TotalRevenueColumn |
| Exclusion | $130,249 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 19120829 | TotalRevenueColumn |
| Related Or Exempt Function Income | 14254927 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $2,731,536 | ExclusionAmount |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1204277 | Total |
| Program Services | 1204277 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 530035 | Total |
| Management And General | 530035 | ManagementAndGeneral |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8679655 | Total |
| Program Services | 7635695 | ProgramServices |
| Management And General | 513617 | ManagementAndGeneral |
| Fundraising | 530343 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 383736 | Total |
| Program Services | 353238 | ProgramServices |
| Management And General | 7994 | ManagementAndGeneral |
| Fundraising | 22504 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1832555 | Total |
| Program Services | 1677581 | ProgramServices |
| Management And General | 118663 | ManagementAndGeneral |
| Fundraising | 36311 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 600143 | Total |
| Program Services | 508156 | ProgramServices |
| Management And General | 52212 | ManagementAndGeneral |
| Fundraising | 39775 | Fundraising |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 101051 | Total |
| Fundraising | 101051 | Fundraising |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 760593 | Total |
| Program Services | 133090 | ProgramServices |
| Management And General | 618205 | ManagementAndGeneral |
| Fundraising | 9298 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 104767 | Total |
| Program Services | 5920 | ProgramServices |
| Management And General | 98847 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 193783 | Total |
| Program Services | 153539 | ProgramServices |
| Management And General | 6374 | ManagementAndGeneral |
| Fundraising | 33870 | Fundraising |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 90105 | Total |
| Program Services | 4993 | ProgramServices |
| Management And General | 85112 | ManagementAndGeneral |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1432726 | Total |
| Program Services | 1361090 | ProgramServices |
| Management And General | 71636 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2759802 | Total |
| Program Services | 2621812 | ProgramServices |
| Management And General | 137990 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 156986 | Total |
| Program Services | 156986 | ProgramServices |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| UTILITIES | 650587 | 650587 | ||
| CONTRACT SERVICES | 621251 | 607367 | 4365 | 9519 |
| FOOD | 474025 | 463585 | 6185 | 4255 |
| EQUIPMENT RENTAL & MAIN | 295558 | 291285 | 3564 | 709 |
| MISCELLANEOUS | 293414 | 157631 | 119165 | 16618 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1086189 | Total |
| Program Services | 732668 | ProgramServices |
| Management And General | 265209 | ManagementAndGeneral |
| Fundraising | 88312 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 22251238 | Total |
| Program Services | 18719500 | ProgramServices |
| Management And General | 2639173 | ManagementAndGeneral |
| Fundraising | 892565 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2889030 | BOY |
| EOY | 2888515 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1079457 | BOY |
| EOY | 938167 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4486462 | BOY |
| EOY | 4698833 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 53616 | BOY |
| EOY | 73618 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 236268 | BOY |
| EOY | 311620 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 85189167 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 19346538 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 65832781 | BOY |
| EOY | 65842629 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 32854261 | BOY |
| EOY | 37913946 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1910244 | BOY |
| EOY | 1121602 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 109342119 | BOY |
| EOY | 113788930 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3794597 | BOY |
| EOY | 3929840 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7764804 | BOY |
| EOY | 9201050 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 43000000 | BOY |
| EOY | 43000000 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5883381 | BOY |
| EOY | 4752357 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 60442782 | BOY |
| EOY | 60883247 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 24652592 | BOY |
| EOY | 26906915 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3110225 | BOY |
| EOY | 4745642 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 21136520 | BOY |
| EOY | 21253126 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 48899337 | BOY |
| EOY | 52905683 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 109342119 | BOY |
| EOY | 113788930 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | -3130409 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 7136755 | 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 OTHER LOBBYING ACTIVITIES: | Identifier |
| Return Reference | PART II-B, LINE 1I: | 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 | 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 Minus1 Year CurrentYearMinus1Year
| 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 Minus2 Years CurrentYearMinus2Years
| 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 | 0.36350 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.55560 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.08090 | 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 | 60927805 | OtherCostOrOtherBasis |
| Depreciation | 15025090 | Depreciation |
| Book Value | 45902715 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 6501886 | OtherCostOrOtherBasis |
| Depreciation | 1603396 | Depreciation |
| Book Value | 4898490 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 11021894 | OtherCostOrOtherBasis |
| Depreciation | 2718052 | Depreciation |
| Book Value | 8303842 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 65842629 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (3 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| DUE TO PARENTS ASSOCIATION | $202,407 |
| INTEREST RATE SWAP LIABILITY | $3,774,950 |
| LINE OF CREDIT | $775,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 4752357 | TotalOfAmounts |
| Total Revenue | 19120829 | TotalRevenue |
| Total Expenses | 22251238 | TotalExpenses |
| Excess Or Deficit For Year | -3130409 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | 5374790 | NetUnrealizedGLOnInvestments |
| Other | $1,761,965 | OtherAmount |
| Total Adjustments | 7136755 | TotalAdjustments |
| Excess Or Deficit Per FS | 4006346 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 25092998 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 5374790 | NetUnrealizedGainsInvestments |
| Other Revenues | 1761965 | OtherRevenues |
| Revenue Not Rptd F990 | 7136755 | RevenueNotRptdF990 |
| Revenue Subtotal | 17956243 | RevenueSubtotal |
| Other Revenues Not Included | 1164586 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 1164586 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 19120829 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 21015952 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 39691 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 39691 | ExpensesNotRptdF990 |
| Expenses Subtotal | 20976261 | ExpensesSubtotal |
| Other Expenses Not Included | 1274977 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 1274977 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 22251238 | 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. |
| PART XI, LINE 8 - OTHER ADJUSTMENTS: | CHANGE IN VALUES OF SPLIT-INTEREST AGREEMENTS 480,760. MARKET ADJUSTMENT ON INTEREST RATE SWAP AGREEMENT 1,281,205. | |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT 480,760. MARKET ADJUSTMENT ON INTEREST RATE SWAP AGREEMENT 1,281,205. | |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | FINANCIAL AID AWARDS 1,204,277. FUNDRAISING EVENTS -39,691. | |
| PART XIII, LINE 2D - OTHER ADJUSTMENTS: | FUNDRAISING EVENTS 39,691. | |
| PART XIII, LINE 4B - OTHER ADJUSTMENTS: | FINANCIAL AID AWARDS 1,204,277. BAD DEBT 70,700. |
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 G IRS990ScheduleG
Events Information EventsInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Event1 | GALA DINNER | NameOfEvent1 |
| Gross Receipts Event1 | 169940 | GrossReceiptsEvent1 |
| Gross Revenue Event1 | 169940 | GrossRevenueEvent1 |
| Other Direct Expenses Event1 | 39691 | OtherDirectExpensesEvent1 |
| Gross Receipts Total | 169940 | GrossReceiptsTotal |
| Gross Revenue Total Events | 169940 | GrossRevenueTotalEvents |
| Other Direct Expenses Total Events | 39691 | OtherDirectExpensesTotalEvents |
| Direct Expense Summary Events | 39691 | DirectExpenseSummaryEvents |
| Net Income Summary | 130249 | NetIncomeSummary |
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 | 63 | NumberOfRecipients |
| Amount Of Non Cash Assistance | 1204277 | 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 |
| Club Dues Or Fees | X | ClubDuesOrFees |
| 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 | |||||||||||||
| 210575 | 0 | 0 | 0 | 0 | 0 | 42000 | 0 | 61285 | 0 | 313860 | 0 | 0 | 0 |
| GARY E REED | |||||||||||||
| 162778 | 0 | 0 | 0 | 0 | 0 | 17000 | 0 | 29750 | 0 | 209528 | 0 | 0 | 0 |
| DAVID LIEBMANN | |||||||||||||
| 135551 | 0 | 0 | 0 | 0 | 0 | 14800 | 0 | 17885 | 0 | 168236 | 0 | 0 | 0 |
| MARIE RB BEAM | |||||||||||||
| 130921 | 0 | 0 | 0 | 0 | 0 | 15375 | 0 | 18683 | 0 | 164979 | 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, 2011, 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 $49,500. THE HEAD OF SCHOOL'S CONTRACT PROVIDES FOR A HEALTH CLUB REIMBURSEMENT. | 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 | 34054 | AmountOfTransaction |
| Description Of Transaction | DURING THE YEAR ENDED JUNE 30, 2011, THE SCHOOL OBTAINED VARIOUS ENGINEERING AND MASTER PLANNING CONSULTING SERVICES FROM BEALS & THOMAS, FOR WHICH MR. THOMAS IS THE PRESIDENT AND STOCKHOLDER. | 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 | 129866 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | FMV ON DATE OF GIFT | MethodOfDeterminingRevenues |
Collectibles Collectibles
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 1 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 3500 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | SELLING PRICE | MethodOfDeterminingRevenues |
Other Non Cash Contributions Table OtherNonCashContributionsTable (2 entries)
| Non Cash CheckboxNonCashCheckbox | DescriptionDescription | Number Of ContributionsNumberOfContributions | Noncash Contribs Rptd F990NoncashContribsRptdF990 | Method Of Determining RevenuesMethodOfDeterminingRevenues |
|---|---|---|---|---|
| X | PRINTER & STAIRMASTER | 1 | 400 | PURCHASE PRICE |
| X | EQUIPMENT | 1 | 750 | 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 (6 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| FORM 990, PART VI, SECTION B, LINE 11 | THE 990 IS DISTRIBUTED AND 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. | |
| 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 THEIR OWN POLICIES AND IS INCLUDING THEM IN THEIR BY-LAWS. | FORM 990, PART VI, SECTION B, LINE 12C | |
| THE CHAIRMAN OF THE BOARD OF TRUSTEES DETERMINES THE COMPENSATION FOR THE HEAD OF SCHOOL AND THE DIRECTOR OF FINANCE AND OPERATIONS. BOTH EMPLOYEES 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 B, LINE 15 | |
| 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 18 | |
| 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 VI, SECTION C, LINE 19 | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | NET UNREALIZED GAINS ON INVESTMENTS: 5,374,790. CHANGE IN VALUES OF SPLIT-INTEREST AGREEMENTS 480,760. MARKET ADJUSTMENT ON INTEREST RATE SWAP AGREEMENT 1,281,205. TOTAL TO FORM 990, PART XI, LINE 5: 7,136,755. | FORM 990, PART XI, LINE 5: |