2025-03-13T17:23:53-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 4 BATTERYMARCH PARK SUITE 100 QUINCY MA 02169 990 2023-07-01 042105750 TOWER SCHOOL IN MARBLEHEAD INC TOWE 7816315800 75 WEST SHORE DRIVE MARBLEHEAD MA 01945 MICHAEL GORDON TREASURER 7816315800 2025-02-19 1 0 SHANNON CROWLEY P01594935 7819821001 2025-02-19 2023 2025-03-06 01:10:19Z MICHAEL GORDON 75 WEST SHORE DRIVE MARBLEHEAD MA 01945 12345378 0 X WWW.TOWERSCHOOL.ORG X 1912 MA AN INDEPENDENT DAY SCHOOL SERVING PRE-KINDERGARTEN THROUGH GRADE 8. 19 16 120 125 0 0 271378 1209939 9180094 9367139 226739 321131 175476 100531 9853687 10998740 2161470 2059215 0 0 5834207 6174704 0 0 636242 1985795 2122788 9981472 10356707 -127785 642033 20381864 22610299 12108849 13204505 8273015 9405794 WE TEACH OUR STUDENTS TO THINK CRITICALLY AND CREATIVELY, TO DEVELOP JOYFUL CURIOSITY, TO EMBRACE CHALLENGE AND APPLY THEIR KNOWLEDGE WITH CONFIDENCE, AND TO THRIVE WITHIN A COMMUNITY RICH WITH DIVERSE PERSPECTIVES AND TALENTS. 0 0 7909033 2059215 9092493 THE SCHOOL OPERATES AS A COEDUCATIONAL INDEPENDENT DAY SCHOOL OFFERING A BROAD LIBERAL CURRICULUM FOR GRADES PRE-KINDERGARTEN THROUGH EIGHT. EDUCATED 237 STUDENTS, GRADUATED 21 STUDENTS AND PLACED THEM IN NUMEROUS QUALITY PUBLIC AND PRIVATE SECONDARY SCHOOLS. 172221 259500 THE SUMMER PROGRAM AT TOWER SCHOOL OFFERS A VARIETY OF PROGRAMS FOR CHILDREN AGES 3-16, INCLUDING ART, TECHNOLOGY, ROBOTICS, AND ADVENTURE CAMPS. 7986 15146 PARENTS ASSOCIATION 8089240 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 14 0 1 120 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 16 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X MARGE PIERCE 7816315800 75 WEST SHORE DR MARBLEHEAD MA 01945 MARGE PIERCE DIRECTOR OF FINANCE AND OPERATIONS 60.00 X 160268 0 18060 ELIZABETH BUCHAN HEAD OF LOWER SCHOOL 40.00 X 109782 0 42540 TODD EVELETH HEAD OF SCHOOL 60.00 X 103940 0 3364 SERENA GIFFORD FORMER HEAD OF SCHOOL 60.00 X 100172 0 11814 ALETHEA MCCORMICK TRUSTEE/CHAIR 2.00 X X 0 0 0 ANGELA MUNRO TRUSTEE/CLERK 2.00 X X 0 0 0 MATTHEW VELLUTO TRUSTEE/VICE-CHAIR 2.00 X X 0 0 0 JEFFREY CARTER TRUSTEE/VICE-CHAIR 2.00 X X 0 0 0 MICHAEL GORDON TRUSTEE/TREASURER 2.00 X X 0 0 0 EMILY ZOTTO-BARNUM TRUSTEE 1.00 X 0 0 0 CARRIE BERENSON ROSENMAN TRUSTEE 1.00 X 0 0 0 DAPHNE RAMOS TRUSTEE 1.00 X 0 0 0 ADAM PETRICK TRUSTEE 1.00 X 0 0 0 CALISTA MAHARAJ TRUSTEE 1.00 X 0 0 0 BARRY KELLY TRUSTEE 1.00 X 0 0 0 GREG DOMBAL TRUSTEE 1.00 X 0 0 0 JAMES FLEURIEL TRUSTEE 1.00 X 0 0 0 STEFANIE CONAHAN TRUSTEE 1.00 X 0 0 0 STEPHEN AINLAY TRUSTEE 1.00 X 0 0 0 JAY STELLA TRUSTEE 1.00 X 0 0 0 BETH PEABODY TRUSTEE 1.00 X 0 0 0 RUTH DU MOULIN TRUSTEE 1.00 X 0 0 0 KATE BRACKEN TRUSTEE 1.00 X 0 0 0 474162 0 75778 4 1 1 0 CLIFTONLARSONALLEN LLP 4 BATTERYMARCH PARK SUITE 100 QUINCY MA 02169 ACCOUNTING SERVICES/ERC CONSULTING 134874 1 84704 762431 362804 3250 1209939 TUITION AND FEES 611600 9092493 9092493 SUMMER PROGRAM 611600 259500 259500 PARENTS ASSOCIATION 611600 15146 15146 9367139 216382 216382 122580 0 122580 122580 122580 1322688 1217463 476 105225 -476 104749 104749 106650 84704 128699 -22049 -22049 10998740 9367139 0 421662 2059215 2059215 405097 178408 136434 90255 4120660 3207225 625700 287735 184229 125837 32138 26254 1130958 921194 117117 92647 333760 251376 55899 26485 64821 64821 134374 134374 52486 52486 118946 70710 38401 9835 22010 2289 19721 64421 56637 6042 1742 55605 54705 900 257166 172679 68152 16335 48546 46551 1986 9 162021 119895 30784 11342 569159 402540 128964 37655 97997 69754 21645 6598 STUDENT ACTIVITIES 346022 292547 38352 15123 DUES AND SUBSCRIPTIONS 47529 20149 22858 4522 PRINTING, COPY & DESIGN 32942 14786 9770 8386 BANK FEES 21301 10703 9759 839 27442 12040 14922 480 10356707 8089240 1631225 636242 1457292 1031783 23065 4550 4224400 5124168 91114 107839 17972386 9848583 8534833 8123803 5961260 7401117 89900 817039 20381864 22610299 664809 744643 6438184 7626054 4917783 4780717 88073 53091 12108849 13204505 X 6746179 7660047 1526836 1745747 8273015 9405794 20381864 22610299 642033 490746 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5948954 5500 739777 4511 254459 6435261 5664699 4500 632809 347 352707 5948954 6546454 55578 -634749 491 302093 5664699 5883964 12224 969463 489 318708 6546454 6211764 5813 65343 474 398482 5883964 0.74564 0.25436 0.00000 0 0 1933052 1933052 1332330 14408186 9647921 6092595 215897 135774 80123 82921 64888 18033 8123803 OPERATING LEASE LIABILITIES 53091 53091 X 8885661 490746 490746 8394915 52486 2551339 2603825 10998740 7752882 0 7752882 52486 2551339 2603825 10356707 PART V, LINE 4: WE USE A SMALL AMOUNT OF THE EARNINGS EACH YEAR FOR OPERATIONS. THE FUND PRINCIPAL IS PROTECTED AND INTENDED FOR USE IN FUTURE YEARS TO PROVIDE EARNINGS POWER AND FINANCIAL STABILITY. PART X, LINE 2: THE SCHOOL DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS AT JUNE 30, 2024 AND 2023. INTEREST AND PENALTIES ASSOCIATED WITH UNRECOGNIZED INCOME TAX POSITIONS, IF IDENTIFIED, WILL BE CLASSIFIED AS ADDITIONAL INCOME TAXES ON THE STATEMENTS OF ACTIVITIES. THE SCHOOL IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY PERIODS IN PROGRESS. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND TUITION REIMBURSEMENT 2,551,339. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND TUITION REMISSION 2,551,339. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE NONDISCRIMINATION POLICY IS LISTED ON THE HOMEPAGE OF THE ORGANIZATION'S WEBSITE AS WELL AS ON ALL ADMISSIONS MATERIALS. TOWER TAILGATE BENEFIT 191354 84704 106650 5900 71994 6315 19836 24654 191354 84704 106650 5900 71994 6315 19836 24654 128699 -22049 1 FINANCIAL AID 101 2020751 LEARNING SKILLS-FINANCIAL AID 25 38464 PART I, LINE 2: ALL GRANTS ARE USED FOR EDUCATIONAL SERVICES AT TOWER SCHOOL. FINANCIAL AID IS USED AS A REDUCTION OF TUITION FOR THE CURRENT YEAR. TO APPLY FOR TUITION ASSITANCE, STUDENTS NEED TO CHECK THE BOX ON THE ADMISSION APPLICATION AND TOWER SCHOOL MAILS OUT THE MATERIALS IN DECEMBER. TOWER SCHOOL IN MARBLEHEAD USES CLARITY FOR FINANCIAL AID. THE PARENTS FILL OUT THEIR FINANCIAL STATEMENT AND SUBMIT IT TO CLARITY WHO THEN TURNS OVER THE INFORMATION TO THE SCHOOL. ANY AMOUNTS AWARDED ARE A DIRECT REDUCTION TO THE TUITION INVOICE. X 1 1 X 0 0 0 0 0 0 0 0 0 MARGE PIERCE DIRECTOR OF FINANCE AND OPERATIONS 160268 0 0 0 0 0 8013 0 10047 0 178328 0 0 0 ELIZABETH BUCHAN HEAD OF LOWER SCHOOL 109782 0 0 0 0 0 5489 0 37051 0 152322 0 0 0 SERENA GIFFORD FORMER HEAD OF SCHOOL 100172 0 0 0 0 0 5009 0 6805 0 111986 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL IS REQUIRED TO LIVE IN CAMPUS HOUSING PROVIDED BY THE SCHOOL. THE FMV OF THE HOUSING IS INCLUDED AS A NONTAXABLE BENEFIT. PART I, LINE 3 THE HEAD OF SCHOOL SALARY WILL BE REVIEWED AND ADJUSTED BY THE BOARD FOR EACH RENEWAL PERIOD. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2016-03-29 5798000 REFUND 7/1/07 ISSUE AND ACQUIRE LAND AND BUILDING 0 0 0 A 1000951 5798000 74692 1643478 4154522 2007 1 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 89956 FINANCIAL AID EDUCATION FORM 990, PART VI, SECTION B, LINE 11B A COMPLETE COPY OF FORM 990 WAS PROVIDED TO THE BOARD OF TRUSTEES PRIOR TO FILING, HOWEVER, THE NAMES AND ADDRESSES OF THE DONORS ON SCHEDULE B OF THE FORM WERE NOT PROVIDED. THE DIRECTOR OF FINANCE AND OPERATIONS, HEAD OF SCHOOL AND TREASURER REVIEW THE COMPLETE FORM 990 PRIOR TO DISTRIBUTION TO THE BOARD. ONCE THE 990 REVIEW IS COMPLETE, IT IS SIGNED AND FILED. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL HAS AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE. IF A MEMBER OF THE BOARD OF TRUSTEES OR OFFICER (OR ANY MEMBER OF HIS OR HER FAMILY) HAS AN INTEREST IN A PROPOSED TRANSACTION WITH THE CORPORATION OR IN ANY ORGANIZATION INVOLVED IN THE PROPOSED TRANSACTION, HE OR SHE MUST MAKE FULL DISCLOSURE OF SUCH INTEREST BEFORE ANY DISCUSSION OR NEGOTIATION OF SUCH TRANSACTION. THE CONDUCT OF BUSINESS BETWEEN ANY SUCH MEMBER OF THE BOARD OF TRUSTEES OR OFFICER, OR HIS OR HER FAMILY OR AFFILIATES, AND THE CORPORATION MUST BE DISCLOSED PROMPTLY AND TIMELY IN WRITING TO THE BOARD AND APPROVED IN WRITING BY THE BOARD. A WRITTEN RECORD OF THE DISCLOSURE OF AND DESCRIPTION OF THE CONFLICT, ANY DECISIONS ON SUCH CONFLICT, AND ANY WAIVERS OF SUCH CONFLICTS SHALL BE MAINTAINED BY THE BOARD OF TRUSTEES AND BY THE CORPORATION. THE TRUSTEE OR OFFICER WITH THE RELATIONSHIP SHALL NOT BE PRESENT FOR AND SHALL NOT PARTICIPATE IN ANY DISCUSSION OR VOTE IN CONNECTION WITH THE MATTER. THE EXECUTIVE COMMITTEE, BY A MAJORITY VOTE, SHALL HAVE THE RIGHT TO SUSPEND TEMPORARILY OR PLACE ON TEMPORARY LEAVE OF ABSENCE ANY MEMBER OF THE BOARD OF TRUSTEES OR ANY OFFICER WHOM THE COMMITTEE DETERMINES IS ACTING INCONSISTENTLY WITH THE REQUIREMENTS OF THIS CONFLICT OF INTEREST POLICY. THE BOARD OF TRUSTEES, BY A MAJORITY VOTE, MAY SUSPEND, PLACE ON LEAVE OF ABSENCE OR REMOVE ANY MEMBER OF THE BOARD OF TRUSTEES OR ANY OFFICER WHOM THE BOARD DETERMINES IS ACTING INCONSISTENTLY WITH THE REQUIREMENTS OF THIS CONFLICT OF INTEREST POLICY. ANY OFFICER OR MEMBER OF THE BOARD OF TRUSTEES INVOLVED IN AN ISSUE OF WHETHER HE OR SHE HAS OR HAS NOT COMPLIED WITH THE REQUIREMENTS OF THIS CONFLICT OF INTEREST POLICY SHALL NOT PARTICIPATE IN THE DISCUSSION OR IN THE VOTE AT EITHER THE EXECUTIVE COMMITTEE OR AT THE BOARD OF TRUSTEES MEETING. NOT LESS THAN ANNUALLY, EACH TRUSTEE SHALL MAKE WRITTEN DISCLOSURE TO THE CHAIR OF THE COMMITTEE ON TRUSTEES CONFIRMING THAT HE OR SHE HAS REVIEWED THIS CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE HEAD OF SCHOOL IS DETERMINED BY A REVIEW OF THE COMMITTEE ON TRUSTEES. THE REVIEW INCLUDES A PERFORMANCE EVALUATION AND MARKET COMPARISON WITH INDEPENDENT SCHOOLS OF OUR SIZE AND IN OUR GEOGRAPHIC AREA. THIS PROCESS OCCURS ANNUALLY. THE DELIBERATION AND DECISIONS ARE DOCUMENTED. THE BOARD APPROVES THE BUDGET FOR THE PERCENTAGE INCREASE FOR THE SALARIES OF OTHER EMPLOYEES AND THE HEAD OF SCHOOL DETERMINES HOW THE INCREASE SHOULD BE DISTRIBUTED. THIS PROCESS WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S DOCUMENTS ARE AVAILABLE UPON REQUEST.