﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2024v5.5">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2026-03-10T15:03:22-05:00</ReturnTs>
    <TaxPeriodEndDt>2025-06-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>043704462</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>GJ Burns CPA LLC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>175 Andover Street Suite 103</AddressLine1Txt>
        <CityNm>Danvers</CityNm>
        <StateAbbreviationCd>MA</StateAbbreviationCd>
        <ZIPCd>01923</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-07-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>237123080</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>WARING SCHOOL INC</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>WARI</BusinessNameControlTxt>
      <PhoneNum>9789278793</PhoneNum>
      <USAddress>
        <AddressLine1Txt>35 STANDLEY STREET</AddressLine1Txt>
        <CityNm>BEVERLY</CityNm>
        <StateAbbreviationCd>MA</StateAbbreviationCd>
        <ZIPCd>01915</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>JOHN WIGGLESWORTH</PersonNm>
      <PersonTitleTxt>TREASURER</PersonTitleTxt>
      <PhoneNum>9789278793</PhoneNum>
      <SignatureDt>2026-03-10</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>0</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>Gregg J Burns</PreparerPersonNm>
      <PTIN>P00819178</PTIN>
      <PhoneNum>9787771181</PhoneNum>
      <PreparationDt>2026-03-07</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="9">
    <IRS990 documentId="RetDoc1038000001" referenceDocumentId="RetDoc1044400001">
      <PrincipalOfficerNm>JOHN WIGGLESWORTH</PrincipalOfficerNm>
      <USAddress>
        <AddressLine1Txt>35 STANDLEY STREET</AddressLine1Txt>
        <CityNm>BEVERLY</CityNm>
        <StateAbbreviationCd>MA</StateAbbreviationCd>
        <ZIPCd>01915</ZIPCd>
      </USAddress>
      <GrossReceiptsAmt>7978823</GrossReceiptsAmt>
      <GroupReturnForAffiliatesInd>0</GroupReturnForAffiliatesInd>
      <Organization501c3Ind>X</Organization501c3Ind>
      <WebsiteAddressTxt>www.waringschool.org</WebsiteAddressTxt>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <FormationYr>1974</FormationYr>
      <LegalDomicileStateCd>MA</LegalDomicileStateCd>
      <ActivityOrMissionDesc>Quality education of children.</ActivityOrMissionDesc>
      <VotingMembersGoverningBodyCnt>13</VotingMembersGoverningBodyCnt>
      <VotingMembersIndependentCnt>13</VotingMembersIndependentCnt>
      <TotalEmployeeCnt>108</TotalEmployeeCnt>
      <TotalVolunteersCnt>60</TotalVolunteersCnt>
      <TotalGrossUBIAmt>0</TotalGrossUBIAmt>
      <NetUnrelatedBusTxblIncmAmt>0</NetUnrelatedBusTxblIncmAmt>
      <PYContributionsGrantsAmt>287657</PYContributionsGrantsAmt>
      <CYContributionsGrantsAmt>494218</CYContributionsGrantsAmt>
      <PYProgramServiceRevenueAmt>6221943</PYProgramServiceRevenueAmt>
      <CYProgramServiceRevenueAmt>6774628</CYProgramServiceRevenueAmt>
      <PYInvestmentIncomeAmt>3197902</PYInvestmentIncomeAmt>
      <CYInvestmentIncomeAmt>180762</CYInvestmentIncomeAmt>
      <PYOtherRevenueAmt>297957</PYOtherRevenueAmt>
      <CYOtherRevenueAmt>143580</CYOtherRevenueAmt>
      <PYTotalRevenueAmt>10005459</PYTotalRevenueAmt>
      <CYTotalRevenueAmt>7593188</CYTotalRevenueAmt>
      <PYGrantsAndSimilarPaidAmt>1655957</PYGrantsAndSimilarPaidAmt>
      <CYGrantsAndSimilarPaidAmt>1634532</CYGrantsAndSimilarPaidAmt>
      <PYBenefitsPaidToMembersAmt>0</PYBenefitsPaidToMembersAmt>
      <CYBenefitsPaidToMembersAmt>0</CYBenefitsPaidToMembersAmt>
      <PYSalariesCompEmpBnftPaidAmt>3694091</PYSalariesCompEmpBnftPaidAmt>
      <CYSalariesCompEmpBnftPaidAmt>3993818</CYSalariesCompEmpBnftPaidAmt>
      <PYTotalProfFndrsngExpnsAmt>0</PYTotalProfFndrsngExpnsAmt>
      <CYTotalProfFndrsngExpnsAmt>0</CYTotalProfFndrsngExpnsAmt>
      <CYTotalFundraisingExpenseAmt>286250</CYTotalFundraisingExpenseAmt>
      <PYOtherExpensesAmt>2453047</PYOtherExpensesAmt>
      <CYOtherExpensesAmt>2647736</CYOtherExpensesAmt>
      <PYTotalExpensesAmt>7803095</PYTotalExpensesAmt>
      <CYTotalExpensesAmt>8276086</CYTotalExpensesAmt>
      <PYRevenuesLessExpensesAmt>2202364</PYRevenuesLessExpensesAmt>
      <CYRevenuesLessExpensesAmt>-682898</CYRevenuesLessExpensesAmt>
      <TotalAssetsBOYAmt>16857317</TotalAssetsBOYAmt>
      <TotalAssetsEOYAmt>17009692</TotalAssetsEOYAmt>
      <TotalLiabilitiesBOYAmt>2082870</TotalLiabilitiesBOYAmt>
      <TotalLiabilitiesEOYAmt>2164257</TotalLiabilitiesEOYAmt>
      <NetAssetsOrFundBalancesBOYAmt>14774447</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>14845435</NetAssetsOrFundBalancesEOYAmt>
      <MissionDesc>To create and sustain a community of lifelong learners who are working together for the individual and common good.</MissionDesc>
      <SignificantNewProgramSrvcInd>0</SignificantNewProgramSrvcInd>
      <SignificantChangeInd>0</SignificantChangeInd>
      <ExpenseAmt>6610861</ExpenseAmt>
      <GrantAmt>1634532</GrantAmt>
      <RevenueAmt>7143978</RevenueAmt>
      <Desc>Waring School's education model cultivates the analytical mind and the expressive voice, at the individual and community level. A school driven by diverse ideas and a love of learning, Waring blends a progressive educational pedagogy with a rigorous liberal arts curriculum for grades 6 through 12. Students and the teachers are asked to take risks and stretch themselves. Waring's pedagogy challenges the traditional notion of a classroom through mixed-age experiences, experiential learning, travel and community service. Waring's educational process includes project based experiences such as camping trip and endterm, and has a comprehensive advisory/tutorial system of mixed ages. Classes are often discussion-based and built around a single table or circle.</Desc>
      <TotalProgramServiceExpensesAmt>6610861</TotalProgramServiceExpensesAmt>
      <DescribedInSection501c3Ind referenceDocumentId="RetDoc1039100001">1</DescribedInSection501c3Ind>
      <ScheduleBRequiredInd referenceDocumentId="RetDoc1234500001">1</ScheduleBRequiredInd>
      <PoliticalCampaignActyInd>0</PoliticalCampaignActyInd>
      <LobbyingActivitiesInd>0</LobbyingActivitiesInd>
      <SubjectToProxyTaxInd>0</SubjectToProxyTaxInd>
      <DonorAdvisedFundInd referenceDocumentId="RetDoc1040000001">0</DonorAdvisedFundInd>
      <ConservationEasementsInd referenceDocumentId="RetDoc1040000001">0</ConservationEasementsInd>
      <CollectionsOfArtInd referenceDocumentId="RetDoc1040000001">0</CollectionsOfArtInd>
      <CreditCounselingInd referenceDocumentId="RetDoc1040000001">0</CreditCounselingInd>
      <DonorRstrOrQuasiEndowmentsInd>1</DonorRstrOrQuasiEndowmentsInd>
      <ReportLandBuildingEquipmentInd referenceDocumentId="RetDoc1040000001">1</ReportLandBuildingEquipmentInd>
      <ReportInvestmentsOtherSecInd referenceDocumentId="RetDoc1040000001">0</ReportInvestmentsOtherSecInd>
      <ReportProgramRelatedInvstInd referenceDocumentId="RetDoc1040000001">0</ReportProgramRelatedInvstInd>
      <ReportOtherAssetsInd referenceDocumentId="RetDoc1040000001">0</ReportOtherAssetsInd>
      <ReportOtherLiabilitiesInd referenceDocumentId="RetDoc1040000001">1</ReportOtherLiabilitiesInd>
      <IncludeFIN48FootnoteInd referenceDocumentId="RetDoc1040000001">0</IncludeFIN48FootnoteInd>
      <IndependentAuditFinclStmtInd referenceDocumentId="RetDoc1040000001">1</IndependentAuditFinclStmtInd>
      <ConsolidatedAuditFinclStmtInd referenceDocumentId="RetDoc1040000001">0</ConsolidatedAuditFinclStmtInd>
      <SchoolOperatingInd referenceDocumentId="RetDoc1040400001">1</SchoolOperatingInd>
      <ForeignOfficeInd>0</ForeignOfficeInd>
      <ForeignActivitiesInd>0</ForeignActivitiesInd>
      <MoreThan5000KToOrgInd>0</MoreThan5000KToOrgInd>
      <MoreThan5000KToIndividualsInd>0</MoreThan5000KToIndividualsInd>
      <ProfessionalFundraisingInd>0</ProfessionalFundraisingInd>
      <FundraisingActivitiesInd>0</FundraisingActivitiesInd>
      <GamingActivitiesInd>0</GamingActivitiesInd>
      <OperateHospitalInd>0</OperateHospitalInd>
      <GrantsToOrganizationsInd referenceDocumentId="RetDoc1041900001">0</GrantsToOrganizationsInd>
      <GrantsToIndividualsInd referenceDocumentId="RetDoc1041900001">1</GrantsToIndividualsInd>
      <ScheduleJRequiredInd referenceDocumentId="RetDoc1042400001">1</ScheduleJRequiredInd>
      <TaxExemptBondsInd referenceDocumentId="RetDoc1053100001">1</TaxExemptBondsInd>
      <InvestTaxExemptBondsInd>0</InvestTaxExemptBondsInd>
      <EscrowAccountInd>0</EscrowAccountInd>
      <OnBehalfOfIssuerInd>0</OnBehalfOfIssuerInd>
      <EngagedInExcessBenefitTransInd>0</EngagedInExcessBenefitTransInd>
      <PYExcessBenefitTransInd>0</PYExcessBenefitTransInd>
      <LoanOutstandingInd>0</LoanOutstandingInd>
      <GrantToRelatedPersonInd>0</GrantToRelatedPersonInd>
      <BusinessRlnWithOrgMemInd>0</BusinessRlnWithOrgMemInd>
      <BusinessRlnWithFamMemInd>0</BusinessRlnWithFamMemInd>
      <BusinessRlnWith35CtrlEntInd>0</BusinessRlnWith35CtrlEntInd>
      <DeductibleNonCashContriInd>0</DeductibleNonCashContriInd>
      <DeductibleArtContributionInd>0</DeductibleArtContributionInd>
      <TerminateOperationsInd>0</TerminateOperationsInd>
      <PartialLiquidationInd>0</PartialLiquidationInd>
      <DisregardedEntityInd>0</DisregardedEntityInd>
      <RelatedEntityInd>0</RelatedEntityInd>
      <RelatedOrganizationCtrlEntInd>0</RelatedOrganizationCtrlEntInd>
      <TrnsfrExmptNonChrtblRltdOrgInd>0</TrnsfrExmptNonChrtblRltdOrgInd>
      <ActivitiesConductedPrtshpInd>0</ActivitiesConductedPrtshpInd>
      <ScheduleORequiredInd>1</ScheduleORequiredInd>
      <IRPDocumentCnt>16</IRPDocumentCnt>
      <IRPDocumentW2GCnt>0</IRPDocumentW2GCnt>
      <BackupWthldComplianceInd>1</BackupWthldComplianceInd>
      <EmployeeCnt>108</EmployeeCnt>
      <EmploymentTaxReturnsFiledInd>1</EmploymentTaxReturnsFiledInd>
      <UnrelatedBusIncmOverLimitInd>0</UnrelatedBusIncmOverLimitInd>
      <ForeignFinancialAccountInd>0</ForeignFinancialAccountInd>
      <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
      <TaxablePartyNotificationInd>0</TaxablePartyNotificationInd>
      <NondeductibleContributionsInd>0</NondeductibleContributionsInd>
      <QuidProQuoContributionsInd>0</QuidProQuoContributionsInd>
      <Form8282PropertyDisposedOfInd>0</Form8282PropertyDisposedOfInd>
      <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
      <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
      <IndoorTanningServicesInd>0</IndoorTanningServicesInd>
      <SubjToTaxRmnrtnExPrchtPymtInd>0</SubjToTaxRmnrtnExPrchtPymtInd>
      <SubjectToExcsTaxNetInvstIncInd>0</SubjectToExcsTaxNetInvstIncInd>
      <InfoInScheduleOPartVIInd>X</InfoInScheduleOPartVIInd>
      <GoverningBodyVotingMembersCnt>13</GoverningBodyVotingMembersCnt>
      <IndependentVotingMemberCnt>13</IndependentVotingMemberCnt>
      <FamilyOrBusinessRlnInd>0</FamilyOrBusinessRlnInd>
      <DelegationOfMgmtDutiesInd>0</DelegationOfMgmtDutiesInd>
      <ChangeToOrgDocumentsInd>0</ChangeToOrgDocumentsInd>
      <MaterialDiversionOrMisuseInd>0</MaterialDiversionOrMisuseInd>
      <MembersOrStockholdersInd>0</MembersOrStockholdersInd>
      <ElectionOfBoardMembersInd>0</ElectionOfBoardMembersInd>
      <DecisionsSubjectToApprovaInd>0</DecisionsSubjectToApprovaInd>
      <MinutesOfGoverningBodyInd>1</MinutesOfGoverningBodyInd>
      <MinutesOfCommitteesInd>1</MinutesOfCommitteesInd>
      <OfficerMailingAddressInd>0</OfficerMailingAddressInd>
      <LocalChaptersInd>0</LocalChaptersInd>
      <Form990ProvidedToGvrnBodyInd>1</Form990ProvidedToGvrnBodyInd>
      <ConflictOfInterestPolicyInd>1</ConflictOfInterestPolicyInd>
      <AnnualDisclosureCoveredPrsnInd>1</AnnualDisclosureCoveredPrsnInd>
      <RegularMonitoringEnfrcInd>1</RegularMonitoringEnfrcInd>
      <WhistleblowerPolicyInd>1</WhistleblowerPolicyInd>
      <DocumentRetentionPolicyInd>1</DocumentRetentionPolicyInd>
      <CompensationProcessCEOInd>1</CompensationProcessCEOInd>
      <CompensationProcessOtherInd>0</CompensationProcessOtherInd>
      <InvestmentInJointVentureInd>0</InvestmentInJointVentureInd>
      <StatesWhereCopyOfReturnIsFldCd>MA</StatesWhereCopyOfReturnIsFldCd>
      <OtherWebsiteInd>X</OtherWebsiteInd>
      <UponRequestInd>X</UponRequestInd>
      <BooksInCareOfDetail>
        <PersonNm>WILLIAM POTTER</PersonNm>
        <PhoneNum>9789278793</PhoneNum>
        <USAddress>
          <AddressLine1Txt>35 STANDLEY STREET</AddressLine1Txt>
          <CityNm>BEVERLY</CityNm>
          <StateAbbreviationCd>MA</StateAbbreviationCd>
          <ZIPCd>01915</ZIPCd>
        </USAddress>
      </BooksInCareOfDetail>
      <NoListedPersonsCompensatedInd>X</NoListedPersonsCompensatedInd>
      <Form990PartVIISectionAGrp>
        <PersonNm>JOSEPH JUTRAS</PersonNm>
        <TitleTxt>CHAIR</TitleTxt>
        <AverageHoursPerWeekRt>3.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>CINDY KEEGAN</PersonNm>
        <TitleTxt>VICE CHAIR</TitleTxt>
        <AverageHoursPerWeekRt>3.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JOHN WIGGLESWORTH</PersonNm>
        <TitleTxt>TREASURER</TitleTxt>
        <AverageHoursPerWeekRt>3.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>I-HWEI WARNER</PersonNm>
        <TitleTxt>SECRETARY</TitleTxt>
        <AverageHoursPerWeekRt>3.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>DENISE CLINTON</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>MARY COOKSON</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>ELIZABETH GIBBONS</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>T PETER POUND</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JUANITA PRESCOD</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JESSICA DELFORGE ROSE</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JONATHAN GRABOWSKI</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JAN LINDSAY</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>ANN WEEKS</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>2.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>TIMOTHY BAKLAND</PersonNm>
        <TitleTxt>HEAD OF SCHOOL</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <KeyEmployeeInd>X</KeyEmployeeInd>
        <ReportableCompFromOrgAmt>225189</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>45842</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>WILLIAM POTTER</PersonNm>
        <TitleTxt>DIRECTOR OF FINANCE &amp; OPER</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <HighestCompensatedEmployeeInd>X</HighestCompensatedEmployeeInd>
        <ReportableCompFromOrgAmt>137671</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>30176</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <TotalReportableCompFromOrgAmt>362860</TotalReportableCompFromOrgAmt>
      <TotReportableCompRltdOrgAmt>0</TotReportableCompRltdOrgAmt>
      <TotalOtherCompensationAmt>76018</TotalOtherCompensationAmt>
      <IndivRcvdGreaterThan100KCnt>2</IndivRcvdGreaterThan100KCnt>
      <FormerOfcrEmployeesListedInd>0</FormerOfcrEmployeesListedInd>
      <TotalCompGreaterThan150KInd>1</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>0</CompensationFromOtherSrcsInd>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>GDI SERVICES INC</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>WESTON STREET</AddressLine1Txt>
            <CityNm>WALTHAM</CityNm>
            <StateAbbreviationCd>MA</StateAbbreviationCd>
            <ZIPCd>02453</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>CLEANING SERVICES</ServicesDesc>
        <CompensationAmt>127463</CompensationAmt>
      </ContractorCompensationGrp>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>SPERLING INTERACTIVE</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>10 DERBY SQUARE</AddressLine1Txt>
            <CityNm>SALEM</CityNm>
            <StateAbbreviationCd>MA</StateAbbreviationCd>
            <ZIPCd>01970</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>MARKETING CONSULTANT</ServicesDesc>
        <CompensationAmt>114803</CompensationAmt>
      </ContractorCompensationGrp>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>OUNCEIT LLC</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>205 NEWBURY STREET SUITE 202</AddressLine1Txt>
            <CityNm>FRAMINGHAM</CityNm>
            <StateAbbreviationCd>MA</StateAbbreviationCd>
            <ZIPCd>01701</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>IT CONSULTANTS</ServicesDesc>
        <CompensationAmt>107985</CompensationAmt>
      </ContractorCompensationGrp>
      <CntrctRcvdGreaterThan100KCnt>3</CntrctRcvdGreaterThan100KCnt>
      <AllOtherContributionsAmt>494218</AllOtherContributionsAmt>
      <TotalContributionsAmt>494218</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
        <Desc>Tuition and fees</Desc>
        <BusinessCd>611600</BusinessCd>
        <TotalRevenueColumnAmt>6774628</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>6774628</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>6774628</TotalProgramServiceRevenueAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>225770</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>225770</RelatedOrExemptFuncIncomeAmt>
      </InvestmentIncomeGrp>
      <GrossAmountSalesAssetsGrp>
        <SecuritiesAmt>340627</SecuritiesAmt>
      </GrossAmountSalesAssetsGrp>
      <LessCostOthBasisSalesExpnssGrp>
        <SecuritiesAmt>314148</SecuritiesAmt>
        <OtherAmt>71487</OtherAmt>
      </LessCostOthBasisSalesExpnssGrp>
      <GainOrLossGrp>
        <SecuritiesAmt>26479</SecuritiesAmt>
        <OtherAmt>-71487</OtherAmt>
      </GainOrLossGrp>
      <NetGainOrLossInvestmentsGrp>
        <TotalRevenueColumnAmt>-45008</TotalRevenueColumnAmt>
        <ExclusionAmt>-45008</ExclusionAmt>
      </NetGainOrLossInvestmentsGrp>
      <OtherRevenueMiscGrp>
        <Desc>Summer program</Desc>
        <BusinessCd>611600</BusinessCd>
        <TotalRevenueColumnAmt>71310</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>71310</RelatedOrExemptFuncIncomeAmt>
      </OtherRevenueMiscGrp>
      <OtherRevenueMiscGrp>
        <Desc>Other Income</Desc>
        <BusinessCd>611600</BusinessCd>
        <TotalRevenueColumnAmt>70924</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>70924</RelatedOrExemptFuncIncomeAmt>
      </OtherRevenueMiscGrp>
      <OtherRevenueMiscGrp>
        <Desc>Trip Income</Desc>
        <BusinessCd>611600</BusinessCd>
        <TotalRevenueColumnAmt>1346</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>1346</RelatedOrExemptFuncIncomeAmt>
      </OtherRevenueMiscGrp>
      <OtherRevenueTotalAmt>143580</OtherRevenueTotalAmt>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>7593188</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>7143978</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>0</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>-45008</ExclusionAmt>
      </TotalRevenueGrp>
      <GrantsToDomesticIndividualsGrp>
        <TotalAmt>1634532</TotalAmt>
        <ProgramServicesAmt>1634532</ProgramServicesAmt>
      </GrantsToDomesticIndividualsGrp>
      <OtherSalariesAndWagesGrp>
        <TotalAmt>3135464</TotalAmt>
        <ProgramServicesAmt>2367845</ProgramServicesAmt>
        <ManagementAndGeneralAmt>574736</ManagementAndGeneralAmt>
        <FundraisingAmt>192883</FundraisingAmt>
      </OtherSalariesAndWagesGrp>
      <PensionPlanContributionsGrp>
        <TotalAmt>118310</TotalAmt>
        <ProgramServicesAmt>118310</ProgramServicesAmt>
      </PensionPlanContributionsGrp>
      <OtherEmployeeBenefitsGrp>
        <TotalAmt>486605</TotalAmt>
        <ProgramServicesAmt>338511</ProgramServicesAmt>
        <ManagementAndGeneralAmt>110882</ManagementAndGeneralAmt>
        <FundraisingAmt>37212</FundraisingAmt>
      </OtherEmployeeBenefitsGrp>
      <PayrollTaxesGrp>
        <TotalAmt>253439</TotalAmt>
        <ProgramServicesAmt>191392</ProgramServicesAmt>
        <ManagementAndGeneralAmt>46456</ManagementAndGeneralAmt>
        <FundraisingAmt>15591</FundraisingAmt>
      </PayrollTaxesGrp>
      <FeesForServicesLegalGrp>
        <TotalAmt>21421</TotalAmt>
        <ManagementAndGeneralAmt>21421</ManagementAndGeneralAmt>
      </FeesForServicesLegalGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>15718</TotalAmt>
        <ManagementAndGeneralAmt>15718</ManagementAndGeneralAmt>
      </FeesForServicesAccountingGrp>
      <FeesForSrvcInvstMgmntFeesGrp>
        <TotalAmt>25317</TotalAmt>
        <ManagementAndGeneralAmt>25317</ManagementAndGeneralAmt>
      </FeesForSrvcInvstMgmntFeesGrp>
      <AdvertisingGrp>
        <TotalAmt>26364</TotalAmt>
        <ManagementAndGeneralAmt>23664</ManagementAndGeneralAmt>
        <FundraisingAmt>2700</FundraisingAmt>
      </AdvertisingGrp>
      <OfficeExpensesGrp>
        <TotalAmt>80796</TotalAmt>
        <ManagementAndGeneralAmt>62008</ManagementAndGeneralAmt>
        <FundraisingAmt>18788</FundraisingAmt>
      </OfficeExpensesGrp>
      <InformationTechnologyGrp>
        <TotalAmt>86435</TotalAmt>
        <ManagementAndGeneralAmt>86435</ManagementAndGeneralAmt>
      </InformationTechnologyGrp>
      <OccupancyGrp>
        <TotalAmt>143234</TotalAmt>
        <ProgramServicesAmt>143234</ProgramServicesAmt>
      </OccupancyGrp>
      <ConferencesMeetingsGrp>
        <TotalAmt>17554</TotalAmt>
        <ProgramServicesAmt>17554</ProgramServicesAmt>
      </ConferencesMeetingsGrp>
      <InterestGrp>
        <TotalAmt>49537</TotalAmt>
        <ManagementAndGeneralAmt>49537</ManagementAndGeneralAmt>
      </InterestGrp>
      <DepreciationDepletionGrp>
        <TotalAmt>556019</TotalAmt>
        <ProgramServicesAmt>535537</ProgramServicesAmt>
        <ManagementAndGeneralAmt>15335</ManagementAndGeneralAmt>
        <FundraisingAmt>5147</FundraisingAmt>
      </DepreciationDepletionGrp>
      <InsuranceGrp>
        <TotalAmt>113211</TotalAmt>
        <ProgramServicesAmt>85437</ProgramServicesAmt>
        <ManagementAndGeneralAmt>27774</ManagementAndGeneralAmt>
      </InsuranceGrp>
      <OtherExpensesGrp>
        <Desc>Contract labor</Desc>
        <TotalAmt>386542</TotalAmt>
        <ProgramServicesAmt>142939</ProgramServicesAmt>
        <ManagementAndGeneralAmt>243603</ManagementAndGeneralAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>Student activities</Desc>
        <TotalAmt>297357</TotalAmt>
        <ProgramServicesAmt>297357</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>Trip expense</Desc>
        <TotalAmt>280761</TotalAmt>
        <ProgramServicesAmt>280761</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>Repairs and maintenance</Desc>
        <TotalAmt>189542</TotalAmt>
        <ProgramServicesAmt>189542</ProgramServicesAmt>
      </OtherExpensesGrp>
      <AllOtherExpensesGrp>
        <TotalAmt>357928</TotalAmt>
        <ProgramServicesAmt>267910</ProgramServicesAmt>
        <ManagementAndGeneralAmt>76089</ManagementAndGeneralAmt>
        <FundraisingAmt>13929</FundraisingAmt>
      </AllOtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>8276086</TotalAmt>
        <ProgramServicesAmt>6610861</ProgramServicesAmt>
        <ManagementAndGeneralAmt>1378975</ManagementAndGeneralAmt>
        <FundraisingAmt>286250</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <CashNonInterestBearingGrp>
        <BOYAmt>818684</BOYAmt>
        <EOYAmt>798741</EOYAmt>
      </CashNonInterestBearingGrp>
      <PledgesAndGrantsReceivableGrp>
        <BOYAmt>42550</BOYAmt>
        <EOYAmt>0</EOYAmt>
      </PledgesAndGrantsReceivableGrp>
      <AccountsReceivableGrp>
        <BOYAmt>5862</BOYAmt>
        <EOYAmt>24086</EOYAmt>
      </AccountsReceivableGrp>
      <PrepaidExpensesDefrdChargesGrp>
        <BOYAmt>80643</BOYAmt>
        <EOYAmt>110375</EOYAmt>
      </PrepaidExpensesDefrdChargesGrp>
      <LandBldgEquipCostOrOtherBssAmt>16522213</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipAccumDeprecAmt>8819282</LandBldgEquipAccumDeprecAmt>
      <LandBldgEquipBasisNetGrp>
        <BOYAmt>8236252</BOYAmt>
        <EOYAmt>7702931</EOYAmt>
      </LandBldgEquipBasisNetGrp>
      <InvestmentsPubTradedSecGrp>
        <BOYAmt>7673326</BOYAmt>
        <EOYAmt>8218643</EOYAmt>
      </InvestmentsPubTradedSecGrp>
      <OtherAssetsTotalGrp>
        <BOYAmt>0</BOYAmt>
        <EOYAmt>154916</EOYAmt>
      </OtherAssetsTotalGrp>
      <TotalAssetsGrp>
        <BOYAmt>16857317</BOYAmt>
        <EOYAmt>17009692</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>111964</BOYAmt>
        <EOYAmt>124087</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <DeferredRevenueGrp>
        <BOYAmt>1162624</BOYAmt>
        <EOYAmt>1287373</EOYAmt>
      </DeferredRevenueGrp>
      <TaxExemptBondLiabilitiesGrp>
        <BOYAmt>268698</BOYAmt>
        <EOYAmt>39283</EOYAmt>
      </TaxExemptBondLiabilitiesGrp>
      <MortgNotesPyblScrdInvstPropGrp>
        <BOYAmt>490896</BOYAmt>
        <EOYAmt>481327</EOYAmt>
      </MortgNotesPyblScrdInvstPropGrp>
      <OtherLiabilitiesGrp>
        <BOYAmt>48688</BOYAmt>
        <EOYAmt>232187</EOYAmt>
      </OtherLiabilitiesGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>2082870</BOYAmt>
        <EOYAmt>2164257</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
      <NoDonorRestrictionNetAssetsGrp>
        <BOYAmt>14325784</BOYAmt>
        <EOYAmt>14377069</EOYAmt>
      </NoDonorRestrictionNetAssetsGrp>
      <DonorRestrictionNetAssetsGrp>
        <BOYAmt>448663</BOYAmt>
        <EOYAmt>468366</EOYAmt>
      </DonorRestrictionNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>14774447</BOYAmt>
        <EOYAmt>14845435</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>16857317</BOYAmt>
        <EOYAmt>17009692</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>-682898</ReconcilationRevenueExpnssAmt>
      <NetUnrlzdGainsLossesInvstAmt>753886</NetUnrlzdGainsLossesInvstAmt>
      <OtherChangesInNetAssetsAmt>0</OtherChangesInNetAssetsAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>0</AccountantCompileOrReviewInd>
      <FSAuditedInd>1</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>1</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>0</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc1039100001">
      <SchoolInd>X</SchoolInd>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <CYEndwmtFundGrp>
        <BeginningYearBalanceAmt>7930584</BeginningYearBalanceAmt>
        <ContributionsAmt>-5846</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>955658</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>367937</OtherExpendituresAmt>
        <EndYearBalanceAmt>8512459</EndYearBalanceAmt>
      </CYEndwmtFundGrp>
      <CYMinus1YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>7260704</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>1128173</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>458293</OtherExpendituresAmt>
        <EndYearBalanceAmt>7930584</EndYearBalanceAmt>
      </CYMinus1YrEndwmtFundGrp>
      <CYMinus2YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>6847278</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>772366</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>358940</OtherExpendituresAmt>
        <EndYearBalanceAmt>7260704</EndYearBalanceAmt>
      </CYMinus2YrEndwmtFundGrp>
      <CYMinus3YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>8108186</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>-901770</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>359138</OtherExpendituresAmt>
        <EndYearBalanceAmt>6847278</EndYearBalanceAmt>
      </CYMinus3YrEndwmtFundGrp>
      <CYMinus4YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>6443316</BeginningYearBalanceAmt>
        <ContributionsAmt>23193</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>1993093</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>351416</OtherExpendituresAmt>
        <EndYearBalanceAmt>8108186</EndYearBalanceAmt>
      </CYMinus4YrEndwmtFundGrp>
      <BoardDesignatedBalanceEOYPct>0.97440</BoardDesignatedBalanceEOYPct>
      <PrmnntEndowmentBalanceEOYPct>0.01212</PrmnntEndowmentBalanceEOYPct>
      <TermEndowmentBalanceEOYPct>0.01348</TermEndowmentBalanceEOYPct>
      <EndowmentsHeldUnrelatedOrgInd>0</EndowmentsHeldUnrelatedOrgInd>
      <EndowmentsHeldRelatedOrgInd>0</EndowmentsHeldRelatedOrgInd>
      <LandGrp>
        <OtherCostOrOtherBasisAmt>457473</OtherCostOrOtherBasisAmt>
        <BookValueAmt>457473</BookValueAmt>
      </LandGrp>
      <BuildingsGrp>
        <OtherCostOrOtherBasisAmt>15457495</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>8322468</DepreciationAmt>
        <BookValueAmt>7135027</BookValueAmt>
      </BuildingsGrp>
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>444711</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>344185</DepreciationAmt>
        <BookValueAmt>100526</BookValueAmt>
      </EquipmentGrp>
      <OtherLandBuildingsGrp>
        <OtherCostOrOtherBasisAmt>162534</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>152629</DepreciationAmt>
        <BookValueAmt>9905</BookValueAmt>
      </OtherLandBuildingsGrp>
      <TotalBookValueLandBuildingsAmt>7702931</TotalBookValueLandBuildingsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>Accrued expenses</Desc>
        <Amt>65022</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>Deferred compensation</Desc>
        <Amt>8070</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>ROU lease liability</Desc>
        <Amt>159095</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>232187</TotalLiabilityAmt>
      <TotalRevEtcAuditedFinclStmtAmt>6758712</TotalRevEtcAuditedFinclStmtAmt>
      <NetUnrealizedGainsInvstAmt>753886</NetUnrealizedGainsInvstAmt>
      <OtherRevenueAmt>71487</OtherRevenueAmt>
      <RevenueNotReportedAmt>825373</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>5933339</RevenueSubtotalAmt>
      <InvestmentExpensesNotIncldAmt>25317</InvestmentExpensesNotIncldAmt>
      <OtherRevenuesNotIncludedAmt>1634532</OtherRevenuesNotIncludedAmt>
      <RevenueNotReportedFinclStmtAmt>1659849</RevenueNotReportedFinclStmtAmt>
      <TotalRevenuePerForm990Amt>7593188</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>6687724</TotExpnsEtcAuditedFinclStmtAmt>
      <OtherExpensesIncludedAmt>71487</OtherExpensesIncludedAmt>
      <ExpensesNotReportedAmt>71487</ExpensesNotReportedAmt>
      <ExpensesSubtotalAmt>6616237</ExpensesSubtotalAmt>
      <InvestmentExpensesNotIncld2Amt>25317</InvestmentExpensesNotIncld2Amt>
      <OtherExpensesNotIncludedAmt>1634532</OtherExpensesNotIncludedAmt>
      <ExpensesNotRptFinclStmtAmt>1659849</ExpensesNotRptFinclStmtAmt>
      <TotalExpensesPerForm990Amt>8276086</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part V, Line 4:</FormAndLineReferenceDesc>
        <ExplanationTxt>To support the School's operations and provide scholarships to students.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part XI, Line 2d - Other Adjustments:</FormAndLineReferenceDesc>
        <ExplanationTxt>Loss on disposal of property and equipment 71,487.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part XI, Line 4b - Other Adjustments:</FormAndLineReferenceDesc>
        <ExplanationTxt>Financial Aid 1,634,532.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part XII, Line 2d - Other Adjustments:</FormAndLineReferenceDesc>
        <ExplanationTxt>Loss on disposal of property and equipment 71,487.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part XII, Line 4b - Other Adjustments:</FormAndLineReferenceDesc>
        <ExplanationTxt>Financial Aid 1,634,532.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="RetDoc1040400001">
      <NondiscriminatoryPolicyStmtInd>1</NondiscriminatoryPolicyStmtInd>
      <PolicyStmtInBrochuresEtcInd>1</PolicyStmtInBrochuresEtcInd>
      <PlcyPblczdViaBroadcastMediaInd>1</PlcyPblczdViaBroadcastMediaInd>
      <MaintainRacialCompRecsInd>1</MaintainRacialCompRecsInd>
      <MaintainScholarshipsRecsInd>1</MaintainScholarshipsRecsInd>
      <MaintainCpyOfBrochuresEtcInd>1</MaintainCpyOfBrochuresEtcInd>
      <MaintainCpyOfAllSolInd>1</MaintainCpyOfAllSolInd>
      <DiscriminateRaceStdntsRghtsInd>0</DiscriminateRaceStdntsRghtsInd>
      <DiscriminateRaceAdmissPlcyInd>0</DiscriminateRaceAdmissPlcyInd>
      <DiscriminateRaceEmplmFcultyInd>0</DiscriminateRaceEmplmFcultyInd>
      <DiscriminateRaceSchsInd>0</DiscriminateRaceSchsInd>
      <DiscriminateRaceEducPlcyInd>0</DiscriminateRaceEducPlcyInd>
      <DiscriminateRaceUseOfFcltsInd>0</DiscriminateRaceUseOfFcltsInd>
      <DiscriminateRaceAthltProgInd>0</DiscriminateRaceAthltProgInd>
      <DiscriminateRaceOtherActyInd>0</DiscriminateRaceOtherActyInd>
      <GovernmentFinancialAidRcvdInd>0</GovernmentFinancialAidRcvdInd>
      <GovernmentFinancialAidRvkdInd>0</GovernmentFinancialAidRvkdInd>
      <ComplianceWithRevProc7550Ind>1</ComplianceWithRevProc7550Ind>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Schedule E, Part I, Line 3</FormAndLineReferenceDesc>
        <ExplanationTxt>Statements regarding nondiscrimination policies are found in all brochures, advertisements, and other promotional media. Waring School admits students of any race, color, religion, sex, gender identity and national and ethnic origin to all the rights, privileges, programs and activities generally accorded or made to all students.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleE>
    <IRS990ScheduleI documentId="RetDoc1041900001">
      <GrantRecordsMaintainedInd>1</GrantRecordsMaintainedInd>
      <GrantsOtherAsstToIndivInUSGrp>
        <GrantTypeTxt>Tuition Assistance and Financial Aid</GrantTypeTxt>
        <RecipientCnt>81</RecipientCnt>
        <NonCashAssistanceAmt>1634532</NonCashAssistanceAmt>
      </GrantsOtherAsstToIndivInUSGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part I, Line 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>1. Tuition Assistance - The financial aid and scholarship budget is prepared by management and submitted to the Finance Committee for review and approval. Financial Aid and scholarship allotments are awarded to families using the School and Student Resources (SSS) online application tool for families. 2. Faculty Grant - The program reimburses faculty for enrichment programs or tools of approximately $500. The School's goal is to award 6 to 8 recipients annually based on an application process that ensures equal opportunity for all faculty. A Faculty Grant Committee is selected by the Head of School and Advancement Director. The Commitee recommends recipients to the Head of School based on the paramenters of the program. All reimbursements are approved by the Associate Head of School before checks are issued by the accounting department.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="RetDoc1042400001">
      <HousingAllowanceOrResidenceInd>X</HousingAllowanceOrResidenceInd>
      <WrittenPolicyRefTAndEExpnssInd>1</WrittenPolicyRefTAndEExpnssInd>
      <SubstantiationRequiredInd>1</SubstantiationRequiredInd>
      <Form990OfOtherOrganizationsInd>X</Form990OfOtherOrganizationsInd>
      <WrittenEmploymentContractInd>X</WrittenEmploymentContractInd>
      <BoardOrCommitteeApprovalInd>X</BoardOrCommitteeApprovalInd>
      <SeverancePaymentInd>0</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>0</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>0</EquityBasedCompArrngmInd>
      <CompBasedOnRevenueOfFlngOrgInd>0</CompBasedOnRevenueOfFlngOrgInd>
      <CompBsdOnRevRelatedOrgsInd>0</CompBsdOnRevRelatedOrgsInd>
      <CompBsdNetEarnsFlngOrgInd>0</CompBsdNetEarnsFlngOrgInd>
      <CompBsdNetEarnsRltdOrgsInd>0</CompBsdNetEarnsRltdOrgsInd>
      <AnyNonFixedPaymentsInd>0</AnyNonFixedPaymentsInd>
      <InitialContractExceptionInd>0</InitialContractExceptionInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>TIMOTHY BAKLAND</PersonNm>
        <TitleTxt>HEAD OF SCHOOL</TitleTxt>
        <BaseCompensationFilingOrgAmt>225189</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>26933</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>18909</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>271031</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>WILLIAM POTTER</PersonNm>
        <TitleTxt>DIRECTOR OF FINANCE &amp; OPER</TitleTxt>
        <BaseCompensationFilingOrgAmt>137671</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>16151</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>14025</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>167847</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="RetDoc1053100001">
      <TaxExemptBondsIssuesGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1Txt>MASS DEVELOPMENT FINANCE AGENCY</BusinessNameLine1Txt>
        </IssuerName>
        <BondIssuerEIN>043431814</BondIssuerEIN>
        <BondIssuedDt>2012-08-09</BondIssuedDt>
        <IssuePriceAmt>2517356</IssuePriceAmt>
        <PurposeDesc>RE-BOND THE ORIGINAL BOND</PurposeDesc>
        <DefeasedInd>0</DefeasedInd>
        <OnBehalfOfIssuerInd>0</OnBehalfOfIssuerInd>
        <PoolFinancingInd>0</PoolFinancingInd>
      </TaxExemptBondsIssuesGrp>
      <TaxExemptBondsProceedsGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <TotalProceedsAmt>2517356</TotalProceedsAmt>
        <CapitalExpendituresAmt>2517356</CapitalExpendituresAmt>
        <RefundingTaxExemptBondsInd>1</RefundingTaxExemptBondsInd>
        <RefundingTaxableBondsInd>0</RefundingTaxableBondsInd>
        <FinalAllocationMadeInd>1</FinalAllocationMadeInd>
        <AdequateBooksAndRecMaintInd>1</AdequateBooksAndRecMaintInd>
      </TaxExemptBondsProceedsGrp>
      <TaxExemptBondsArbitrageGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <Form8038TFiledInd>0</Form8038TFiledInd>
        <RebateNotDueYetInd>0</RebateNotDueYetInd>
        <ExceptionToRebateInd>0</ExceptionToRebateInd>
        <NoRebateDueInd>0</NoRebateDueInd>
        <VariableRateIssueInd>0</VariableRateIssueInd>
        <HedgeIdentifiedInBksAndRecInd>0</HedgeIdentifiedInBksAndRecInd>
        <GrossProceedsInvestedInGICInd>0</GrossProceedsInvestedInGICInd>
        <GrossProceedsInvestedInd>0</GrossProceedsInvestedInd>
        <WrittenProcToMonitorReqsInd>0</WrittenProcToMonitorReqsInd>
      </TaxExemptBondsArbitrageGrp>
      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <ProceduresCorrectiveActionInd>0</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
    </IRS990ScheduleK>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section B, line 11b</FormAndLineReferenceDesc>
        <ExplanationTxt>Organization's Process to RevIew Form 990. Each member of the Board of Trustees had the opportunity to review the Form 990 before filing.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section B, line 12c</FormAndLineReferenceDesc>
        <ExplanationTxt>Enforcement of Conflicts Policy Each year the policy is discussed with Board Members who are then required to provide written confirmation about their knowledge of the policy.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section B, line 15a</FormAndLineReferenceDesc>
        <ExplanationTxt>Compensation Process for Top Officials The Board of Directors, in executive session not including the Head of School, discusses and approves the Head of School's salary. They also consider whether the salary is comparable to other Head of School positions at comparable schools.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section C, line 19</FormAndLineReferenceDesc>
        <ExplanationTxt>Governing Documents Disclosure Explanation Its Governing Documents, Conflict of Interest policy and Financial Statements are available upon request.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>