2026-05-12T13:59:48-05:00 2025-06-30 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 02129 990 2024-07-01 042103821 MIDDLESEX SCHOOL MIDD 9783692550 1400 LOWELL ROAD CONCORD MA 01742 MICHAEL J HOYLE CFOO 9783692550 2026-05-11 1 1 LYNNE JOHNSON P00757336 6179129000 2026-05-11 2024 2025-03-06 01:10:19Z ELIZABETH SPEERS 1400 LOWELL ROAD CONCORD MA 01742 93067086 0 X WWW.MXSCHOOL.EDU X 1901 MA MIDDLESEX SCHOOL IS A COLLEGE-PREPARATORY SCHOOL FOR GRADES 9 THROUGH 12. 33 32 260 220 74363 10182 5462852 14814823 28396115 30105880 13574021 12243171 1015318 1857483 48448306 59021357 7541349 8297320 0 0 20227449 22343851 0 0 2984163 22256789 24050966 50025587 54692137 -1577281 4329220 444959376 556036805 85605009 140522830 359354367 415513975 X MIDDLESEX SCHOOL HELPS STUDENTS FIND THEIR PROMISE THROUGH RIGOROUS INTELLECTUAL, PHYSICAL, CREATIVE, AND ETHICAL EDUCATION. WE VALUE INTEGRITY, KINDNESS, INCLUSIVITY, EXCELLENCE, AND ENGAGEMENT IN SERVICE OR OUR COMMUNITY AND THE WIDER WORLD. 0 0 40236285 8297320 31708845 MIDDLESEX SCHOOL IS A NON-SECTARIAN COLLEGE PREPARATORY BOARDING AND DAY SCHOOL FOR BOYS AND GIRLS IN GRADES 9-12. MIDDLESEX HAS ALWAYS PRIDED ITSELF IN ATTRACTING A DIVERSE, HIGHLY MOTIVATED GROUP OF STUDENTS FROM ACROSS THE COUNTRY AND MORE RECENTLY THE WORLD. CURRENT ENROLLMENT IS ABOUT 420 STUDENTS FROM MANY STATES AND COUNTRIES. FOUNDED IN 1901, THE SCHOOL HAS A LONG TRADITION OF PLACING STUDENTS IN THE MOST SELECTIVE COLLEGES. MIDDLESEX OFFERS A CHALLENGING ACADEMIC PROGRAM. IN ADDITION TO ITS SCHOOL YEAR PROGRAM, MIDDLESEX MAKES USE OF ITS CAMPUS FACILITIES FOR SUMMER AUXILIARY PROGRAMS CONSISTENT WITH ITS PRIMARY MISSION. 40236285 1 1 0 1 0 0 1 1 0 1 1 1 0 1 1 1 1 0 1 0 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 153 0 1 260 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 33 32 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X MICHAEL J HOYLE CFOO 9783692550 1400 LOWELL ROAD CONCORD MA 01742 ELIZABETH SPEERS HEAD OF SCHOOL 80.00 0.00 X X 703610 0 132539 ALEXANDER C BANKER TRUSTEE 5.00 0.00 X 0 0 0 AFUA OFOSU-BARKO TRUSTEE 5.00 0.00 X 0 0 0 MARY LOU BOUTWELL TRUSTEE 5.00 0.00 X 0 0 0 JOHANNA BOYNTON TRUSTEE 5.00 0.00 X 0 0 0 JOY CONNOLLY TRUSTEE 5.00 0.00 X 0 0 0 CAROLINE COUNSELMAN TRUSTEE 5.00 0.00 X 0 0 0 JAMES F CURTIS III TRUSTEE 5.00 0.00 X 0 0 0 MADELINE DEMOULAS TRUSTEE 5.00 0.00 X 0 0 0 ABIGAIL MARR DOFT TRUSTEE 5.00 0.00 X 0 0 0 SAMANTHA DU TRUSTEE 5.00 0.00 X 0 0 0 JENNIFER BURNES FULTON TRUSTEE 5.00 0.00 X 0 0 0 WILLIAM J HO TRUSTEE 5.00 0.00 X 0 0 0 ROBERT W IULIANO TRUSTEE 5.00 0.00 X 0 0 0 CHARLES MADDOCK TRUSTEE 5.00 0.00 X 0 0 0 PATRICIA A MELTON TRUSTEE 5.00 0.00 X 0 0 0 FREDDIE PANTOJA TRUSTEE 5.00 0.00 X 0 0 0 DR COURTNEY PORTLOCK TRUSTEE 5.00 0.00 X 0 0 0 MARY PRYSHLAK TRUSTEE 5.00 0.00 X 0 0 0 JASMINE RICHARDS TRUSTEE 5.00 0.00 X 0 0 0 ALEX RUSSELL TRUSTEE 5.00 0.00 X 0 0 0 JUAN SABATER TRUSTEE 5.00 0.00 X 0 0 0 BRET STEPHENS TRUSTEE 5.00 0.00 X 0 0 0 CASS SUNSTEIN TRUSTEE 5.00 0.00 X 0 0 0 STANOY S TASSEV TRUSTEE 5.00 0.00 X 0 0 0 DUNE THORNE TRUSTEE 5.00 0.00 X 0 0 0 ROBERT C TRUMBULL TRUSTEE 5.00 0.00 X 0 0 0 JASON ROBART PRESIDENT 5.00 0.00 X X 0 0 0 ALLEN J MODEL VICE PRESIDENT 5.00 0.00 X X 0 0 0 ANNE T BASS VICE PRESIDENT 5.00 0.00 X X 0 0 0 ROBERT M BASS VICE PRESIDENT 5.00 0.00 X X 0 0 0 ANDREW PITTS TREASURER 5.00 0.00 X X 0 0 0 SARAH LEARY SECRETARY 5.00 0.00 X X 0 0 0 KARLYN MCNALL ASSOCIATE HEAD OF SCHOOL 80.00 0.00 X 402584 0 115435 THERESE CUNNINGHAM CFO 60.00 0.00 X 300605 0 95354 HEATHER PARKER CHIEF ADVANCEMENT OFFICER 60.00 0.00 X 219998 0 24551 GEORGE NOBLE CHIEF ADVANCEMENT OFFICER 60.00 0.00 X 218277 0 118542 DOUGLAS PRICE DEAN OF ADMISSIONS & FINANCIAL AID 60.00 0.00 X 181109 0 53579 KURTIS LACROIX DIRECTOR OF PROJECTS & SAFETY 60.00 0.00 X 177978 0 57560 MARC CARTER CHIEF INNOVATION OFFICER 60.00 0.00 X 159453 0 77151 JOFFREY BREMOND CONTROLLER 60.00 0.00 X 144757 0 31313 MATTHEW DEGREEFF DEAN OF COLLEGE COUNS. & STUDENT ENRICHMENT 60.00 0.00 X 135543 0 72526 2643914 0 778550 18 0 1 0 ERLAND CONSTRUCTION INC 71 3RD AVENUE BURLINGTON MA 01803 CONSTRUCTION COMPANY 13767026 FLIK PO BOX 417632 BOSTON MA 02241 FOOD SERVICE CONTRACTOR 2535897 RAD SPORTS 171 VFW DRIVE ROCKLAND MA 02370 CONSTRUCTION COMPANY 1554920 WIND RIVER ENVIRONMENTAL LLC 245 PLYMOUTH STREET CARVER MA 02230 WASTE WATER MANAGEMENT 839727 INFRANET SOLUTIONS INC 2 BATTERYMARCH PARK QUINCY MA 02169 IT SERVICES 691083 30 11400 14803423 5907251 14814823 TUITION REVENUE 611600 30105880 30105880 30105880 3509439 74363 3435076 118020 77190 40830 40830 40830 42562619 400 33829287 0 8733332 400 8733732 8733732 32300 11400 35546 -3246 -3246 112379 103706 8673 8673 EMPLOYEE RETENTION CREDIT 900099 632713 632713 TRIPS & OTHER STUDENT ACTIVITIES 900099 518367 518367 MUSIC TUTOR INCOME 611600 118369 118369 541777 333516 208261 1811226 59021357 31708845 74363 12423326 149639 149639 8147681 8147681 2198178 1270671 386544 540963 13502783 9291424 3393414 817945 1231526 847769 311632 72125 4373304 2992776 1072365 308163 1038060 701725 251598 84737 303571 11318 276465 15788 204476 204476 4190 1848 2342 2580252 2580252 1901714 1307193 509817 84704 46993 46993 711229 400387 219918 90924 1282925 459469 699293 124163 3310 3310 4147179 3942517 155194 49468 904703 656763 89313 158627 108934 85616 21135 2183 472513 444470 22311 5732 5901381 5551134 278652 71595 514740 222410 289466 2864 FOOD SERVICE 2951608 2514030 170219 267359 EQUIPMENT RENTALS 441646 271193 33527 136926 MINOR EQUIPMENT 227085 208363 13812 4910 MEMBERSHIP FEES 106009 17628 78913 9468 1236508 736951 364038 135519 54692137 40236285 11471689 2984163 1785042 5566531 4304191 48728063 47944166 82576337 15857999 14447660 45569 50379 3071846 901450 215138845 102893321 99727267 112245524 15429132 13225854 197563949 207194750 59230215 71100257 444959376 556036805 4306808 7514694 22354086 23079254 17354612 63561550 41589503 46367332 85605009 140522830 X 108126407 143040928 251227960 272473047 359354367 415513975 444959376 556036805 X 4329220 9814924 42015464 X 0 1 X 1 0 X 8099190 6254153 6283135 5462852 14814823 40914153 8099190 6254153 6283135 5462852 14814823 40914153 7669120 33245033 2608160 2204976 2524582 3060660 3553096 13951474 6312 77915 122870 74363 281460 71948 108451 112813 142663 352940 788815 55935902 143292934 0.59430 0.66610 X SCHEDULE A, PART II, SPECIAL RULE IN SCHEDULE B: THE SCHOOL HISTORICALLY HAS USED THE GREATER THAN $5,000 OR 2% RULE IN REPORTING CONTRIBUTORS IN COMPLIANCE WITH THE SCHEDULE B INSTRUCTIONS, THEREFORE, DUE TO THE BROADLY SUPPORTED NATURE OF THE ORGANIZATION AND DEEMED MEETING THE PUBLIC SUPPORT TEST UNDER CURRENT GUIDANCE, CONTRIBUTORS OVER THE 2% RULE FOR SECTION 509(A)(1) BROADLY SUPPORTED ORGANIZATIONS ARE REPORTED. THE SCHOOL HAS COMPLETED SCHEDULE A, PART II FOR THE PURPOSE OF APPLYING THE SPECIAL RULE ON SCHEDULE B. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 0 0 PART II-B, LINE 1: MIDDLESEX SCHOOL IS A MEMBER OF THE MASSACHUSETTS ASSOCIATION OF NONPROFIT SCHOOLS & COLLEGES, A GROUP THAT MAY ENGAGE IN LOBBYING ACTIVITIES. THEREFORE, A PORTION OF THE DUES MAY BE ATTRIBUTABLE TO LOBBYING ACTIVITIES AND AS SUCH NO DETERMINATIVE AMOUNT IS LISTED IN THE SCHEDULE. X 2 160.00 0 0 0 1 0 8.00 0 X 0 210543449 566408 18690657 13067635 216732879 209931778 676344 11960343 12025016 210543449 220472785 3654559 -2784866 11410700 209931778 252327972 2297127 -22738981 11413333 220472785 179678110 1605192 80114546 9069876 252327972 0.13000 0.41000 0.46000 0 0 3096935 3096935 180655735 92890398 87765337 10577952 10002923 575029 20808223 20808223 112245524 DOMESTIC EQUITY 45314341 F INTERNATIONAL EQUITY 30788442 F PRIVATE EQUITY 93595595 F ABSOLUTE RETURN 28790554 F REAL ASSETS 3321028 F OTHER 5384790 F 207194750 BENEFICIAL INTEREST IN CHARITABLE REMAINDER TRUSTS 70768312 OPERATING RIGHT-OF-USE ASSETS, NET 331945 71100257 LIABILITY ON CHARITABLE REMAINDER TRUSTS 46049163 OPERATING LEASE LIABILITY 318169 46367332 X 100645593 9814924 31592870 41407794 59237799 -216442 -216442 59021357 44485985 216442 216442 44269543 2570799 7851795 10422594 54692137 PART II, LINE 5: THE SCHOOL MEETS ANNUALLY WITH THE TRUSTEES OF RESERVATIONS WHO ADMINISTER THE EASEMENTS AND TOUR THE SITE. PART II, LINE 9: CONSERVATION EASEMENTS ON THE MIDDLESEX CAMPUS ARE RELATED TO THE PROTECTION/PRESERVATION OF WETLANDS AND THE PROTECTION OF RESIDENT WILDLIFE ON A PORTION OF THE MIDDLESEX PROPERTY. MIDDLESEX USES AN ENVIRONMENTAL CONSULTING FIRM ANNUALLY TO TEST THE WATER QUALITY OF THE WETLANDS ON THE MIDDLESEX CAMPUS WHERE AMPHIPODS (SALAMANDERS) RESIDE. THE LAND IS RECORDED AS AN ASSET ON THE BALANCE SHEET AND THE EXPENSES RELATED TO THE ENVIRONMENTAL CONSULTING SERVICES ARE CHARGED TO FACILITIES AND OPERATIONS. PART III, LINE 4: THE SCHOOL MAINTAINS AND PRESERVES THE FOLLOWING ITEMS THAT WERE DONATED TO THE SCHOOL FOR DISPLAY AT THE SCHOOL'S LIBRARY: - FLAG OF THE 55TH MASSACHUSETTS VOLUNTEERS OF THE CIVIL WAR - SWORD OF N.P. HALLOWELL, COLONEL OF THE 55TH MASSACHUSETTS VOLUNTEERS OF THE CIVIL WAR - WORKS OF ART - RARE COLLECTION OF BOOKS PART V, LINE 4: THE SCHOOL HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE SCHOOL MUST HOLD IN PERPETUITY OR FOR DONOR-SPECIFIED PURPOSES AS WELL AS BOARD DESIGNATED FUNDS. THE SCHOOL EXPECTS ITS ENDOWMENT FUNDS, OVER TIME, TO PROVIDE AN AVERAGE RATE OF RETURN THAT WILL ALLOW THE PURCHASING POWER OF THE ENDOWMENT TO BE MAINTAINED. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE SCHOOL RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST AND DIVIDENDS). THE SCHOOL TARGETS A DIVERSIFIED ASSET ALLOCATION THAT PLACES A GREATER EMPHASIS ON EQUITY-BASED INVESTMENTS TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF TRUSTEES, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRODUCE RESULTS THAT EXCEED A POLICY INDEX. PART X, LINE 2: THE SCHOOL IS QUALIFIED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. THE SCHOOL IS SUBJECT TO FEDERAL AND STATE INCOME TAXES ON UNRELATED BUSINESS INCOME. THE SCHOOL FOLLOWS FASB ASC 740, INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES BY PRESCRIBING THE RECOGNITION THRESHOLD A TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. THE SCHOOL RECOGNIZES A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT EVALUATED THE SCHOOL'S TAX POSITIONS AND CONCLUDED THAT THE SCHOOL HAS NO MATERIAL UNCERTAINTIES IN INCOME TAXES. THE SCHOOL IS GENERALLY EXEMPT FROM INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR THREE YEARS FROM THE FILING DATE. PART XI, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES NETTED WITH REVENUE ON AUDITED FS -2,570,799. CHANGE IN VALUE OF CHARITABLE REMAINDER TRUSTS 42,015,464. FINANCIAL AID NETTED WITH REVENUE ON AUDITED FINANCIAL STATEMENTS -7,851,795. PART XI, LINE 4B - OTHER ADJUSTMENTS: COSTS OF GOODS SOLD REPORTED ON FORM 990, PART VIII, LINE 10B -103,706. RENTAL EXPENSES REPORTED ON FORM 990, PART VIII, LINE 6B -77,190. FUNDRAISING EXPENSES REPORTED ON FORM 990, PART VIII, LINE 8B -35,546. PART XII, LINE 2D - OTHER ADJUSTMENTS: COSTS OF GOODS SOLD REPORTED ON FORM 990, PART VIII, LINE 10B 103,706. RENTAL EXPENSES REPORTED ON FORM 990, PART VIII, LINE 6B 77,190. FUNDRAISING EXPENSES REPORTED ON FORM 990, PART VIII, LINE 8B 35,546. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON AUDITED FINANCIAL STATEMENTS 7,851,795. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 NOTICE OF NONDISCRIMINATION POLICY(S) IS ON THE SCHOOL'S WEBSITE. AS A LISTED MEMBER OF THE ASSOCIATION OF INDEPENDENT SCHOOLS OF NEW ENGLAND (AISNE), THE SCHOOL HAS A NON-DISCRIMINATION STATEMENT. MIDDLE EAST AND NORTH AFRICA 0 0 SCHOOL SPONSORED TRIP 39847 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 SCHOOL SPONSORED TRIP 94476 CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 57463975 EAST ASIA AND THE PACIFIC INVESTMENTS 7389665 SOUTH ASIA INVESTMENTS 1314095 0 0 0 0 0 0 66302058 0 66302058 1 0 1 1 1 0 KINGMAN CUP 43700 11400 32300 16625 16425 2496 43700 11400 32300 16625 16425 2496 35546 -3246 1 TOWN OF CONCORD - TOWN 250TH GIFT FUND 22 MONUMENT SQUARE CONCORD MA 01742 040600112 50000 0 GIFT FOR 250 MEMORIAL TREES TOWN OF CONCORD - TOWN 250TH GIFT FUND 22 MONUMENT SQUARE CONCORD MA 01742 040600112 50000 0 POLICE DEPARTMENT FOR OFFICER BODY CAMERAS THE MASSACHUSETTS COALITION FOR THE HOMELESS INC 69-73 BUFFUM STREET LYNN MA 01902 222599662 501(C)(3) 5321 0 EDUCATION ON HOMELESSNESS AND SUPPORT TO THE HOMELESS 3 FINANCIAL AID - TUITION 132 7851795 FMV FINANCIAL ASSISTANCE OFFSETS AGAINST THE STUDENTS' ACCOUNTS FINANCIAL AID - INCIDENTALS 132 295886 FMV FINANCIAL ASSISTANCE OFFSETS AGAINST THE STUDENTS' ACCOUNTS PART I, LINE 2: FINANCIAL AID WAS PROVIDED FOR TUITION AND FEES TO STUDENTS EXHIBITING FINANCIAL NEED, NO OUTSIDE GRANTS WERE PROVIDED. CLARITY FINANCIAL AID, AN INDEPENDENT ORGANIZATION, PROCESSES THE APPLICATIONS FOR FINANCIAL AID. MIDDLESEX SCHOOL DISTRIBUTES THE FUNDS TO THOSE CANDIDATES WHO DISPLAY NEED BASED ON THESE APPLICATIONS, SUPPORTING TAX DOCUMENTS AND AVAILABLE GRANT FUNDS. MIDDLESEX SCHOOL'S TWO MEDIUMS FOR THE SOLICITATION OF APPLICANTS FOR ENROLLMENT TO THE SCHOOL ARE ITS ADMISSIONS BROCHURES AND ITS WEB SITE. MIDDLESEX SCHOOL ADMITS STUDENTS OF ANY RACE, COLOR, NATIONAL AND ETHNIC ORIGIN TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE SCHOOL. IT DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL AND ETHNIC ORIGIN IN ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSIONS POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, AND ATHLETIC AND OTHER SCHOOL- ADMINISTERED PROGRAMS. THE SCHOOL ALSO GIVES TUITION REMISSION TO FACULTY CHILDREN WHO ATTEND MIDDLESEX SCHOOL. THE AMOUNT OF ANY QUALIFIED TUITION REDUCTION FOR AN EMPLOYEE OF AN EDUCATIONAL INSTITUTION IS EXCLUDABLE FROM GROSS INCOME UNDER CODE SECTION 117. IN ORDER TO QUALIFY FOR THE EXCLUSION, THE TUITION REDUCTION MUST BE PROVIDED TO AN EMPLOYEE OF A QUALIFIED EDUCATIONAL ORGANIZATION. ALSO, THE TUITION REDUCTION MUST BE FOR EDUCATION AT THE ELEMENTARY, SECONDARY, OR UNDERGRADUATE LEVELS, EITHER AT THE EMPLOYER EDUCATIONAL INSTITUTION OR AT ANOTHER EDUCATIONAL INSTITUTION. X 1 0 X X X X X 0 0 0 0 0 0 0 1 0 ELIZABETH SPEERS HEAD OF SCHOOL 604173 0 90000 0 9437 0 56423 0 76116 0 836149 0 0 0 KARLYN MCNALL ASSOCIATE HEAD OF SCHOOL 317455 0 85000 0 129 0 50250 0 65185 0 518019 0 0 0 THERESE CUNNINGHAM CFO 290536 0 10000 0 69 0 30750 0 64604 0 395959 0 0 0 GEORGE NOBLE CHIEF ADVANCEMENT OFFICER 208208 0 10000 0 69 0 21300 0 97242 0 336819 0 0 0 HEATHER PARKER CHIEF ADVANCEMENT OFFICER 209800 0 10000 0 198 0 21300 0 3251 0 244549 0 0 0 MARC CARTER CHIEF INNOVATION OFFICER 149324 0 10000 0 129 0 16250 0 60901 0 236604 0 0 0 KURTIS LACROIX DIRECTOR OF PROJECTS & SAFETY 162689 0 15000 0 289 0 17510 0 40050 0 235538 0 0 0 DOUGLAS PRICE DEAN OF ADMISSIONS & FINANCIAL AID 160911 0 0 0 20198 0 17650 0 35929 0 234688 0 0 0 MATTHEW DEGREEFF DEAN OF COLLEGE COUNS. & STUDENT ENRICHMENT 135414 0 0 0 129 0 15300 0 57226 0 208069 0 0 0 JOFFREY BREMOND CONTROLLER 142730 0 2000 0 27 0 14658 0 16655 0 176070 0 0 0 PART I, LINE 1A SINCE THE SCHOOL IS A BOARDING SCHOOL, THE MAJORITY OF THE FACULTY ARE REQUIRED TO LIVE ON CAMPUS FOR THE PURPOSE OF SUPERVISING THE STUDENTS. THE ESTIMATED VALUE OF THIS BENEFIT WAS $20,000 DURING THE YEAR WHICH IS INCLUDED IN THE ESTIMATE OF OTHER COMPENSATION REPORTED IN THE FORM 990, PART VII, COLUMN F AND NONTAXABLE BENEFITS REPORTED IN PART II, COLUMN D OF SCHEDULE J. THE HEAD OF SCHOOL'S RESIDENCE HAS A COMBINATION OF PUBLIC AND PRIVATE SPACE. THE ESTIMATED VALUE REFLECTS THE PRIVATE PORTION OF THE RESIDENCE. PART I, LINE 1B THE SCHOOL HAS A WRITTEN POLICY IN REGARDS TO THE ALLOCATION OF FACULTY MEMBERS TO AVAILABLE ON CAMPUS HOUSING AS PART OF THE FACULTY HANDBOOK. WHILE THE SCHOOL WOULD LIKE TO HOUSE ALL MEMBERS OF THE FACULTY ON CAMPUS, THE NUMBER OF FACULTY MEMBERS EXCEED THE NUMBER OF AVAILABLE HOUSING UNITS. UNITS ARE ALLOCATED BASED ON AVAILABILITY AND FIT (DORM RESPONSIBILITIES COMPARED WITH FACULTY RESPONSIBILITIES). THE ESTIMATED NON TAXABLE VALUE FOR THIS ON-CAMPUS HOUSING IS INCLUDED IN PART VII FOR THE HEAD OF SCHOOL, ASSOCIATE HEAD OF SCHOOL, CHIEF FINANCIAL OFFICER, DEAN OF COLLEGE COUNSELING & STUDENT ENRICHMENT, CHIEF INNOVATION OFFICER. IN SOME INSTANCES WHERE ON-CAMPUS HOUSING IS NOT AVAILABLE, TAXABLE STIPENDS ARE ADDED TO FACULTY MEMBER CONTRACTS AND ARE REPORTED IN PART VII, COLUMN (D) UNDER REPORTABLE COMPENSATION AND IN SCHEDULE J, COLUMN (B)(III). DEAN OF ADMISSIONS & FINANCIAL AID HAVE RECEIVED SUCH TAXABLE STIPENDS. PART I, LINE 7 ALL BONUSES ARE PERFORMANCE-BASED AND APPROVED BY THE BOARD UPON THEIR ANNUAL REVIEW. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2020-04-01 17500000 REFINANCE OUTSTANDING SER. 0 0 0 B MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57585BBP2 2024-09-10 29997984 CONSTRUCTION OF FIELD HOUSE 0 0 0 C MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57585BBQ0 2024-09-10 16997627 CONSTRUCTION OF FIELD HOUSE 0 0 0 A 17500000 17500000 2020 1 0 1 1 B 29997984 353275 8652648 20992061 0 0 0 1 C 16997627 200175 4902812 11894640 0 0 0 1 A 0 0 0 0 0.00000 0.00240 0.00240 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY DATE THE REBATE COMPUTATION WAS PERFORMED: 04/01/2025 X 24 5906344 FMV X ROWING EQUIP. 1 907 FMV 0 0 1 0 PART I, COLUMN (B): THE NUMBER RECORDED IN PART I, COLUMN B REPRESENTS THE TOTAL NUMBER OF CONTRIBUTORS. FORM 990, PART I, LINE 6: MIDDLESEX SCHOOL HAS VOLUNTEERS WHO PARTICIPATE IN SCHOOL-RELATED COMMITTEES, PLAN CLASS EVENTS, AND ORGANIZE ON-CAMPUS ACTIVITIES. THESE VOLUNTEERS INCLUDED 31 MIDDLESEX PARENTS' COMMITTEE (MPA) MEMBERS, 38 MIDDLESEX ALUMNI ASSOCIATION (MXAA) BOARD MEMBERS, 52 ALUMNI CLASS AGENTS, AND 60 ALUMNI CLASS SECRETARIES AND APPROXIMATELY 30-40 ADDITIONAL PARENTS AND ALUMNI ATTENDED MEETINGS AND VOLUNTEERED THROUGHOUT THE YEAR. FORM 990, PART III, LINE 1: WE HONOR THE IDEAL, ARTICULATED BY OUR FOUNDING HEADMASTER, OF "FINDING THE PROMISE" IN EVERY STUDENT, AND WE WORK TOGETHER IN AN ATMOSPHERE OF MUTUAL TRUST AND SHARED RESPONSIBILITY TO HELP STUDENTS BRING THEIR TALENTS TO FRUITION AS KNOWLEDGEABLE, CAPABLE, RESPONSIBLE AND MORAL CITIZENS OF THE WORLD. AS A COMMUNITY, WE RESPECT THE INDIVIDUAL INTERESTS, STRENGTHS, AND NEEDS OF EACH STUDENT. WE ALSO VALUE THE RICH DIVERSITY OF BELIEF AND EXPERIENCE EACH OF US BRINGS TO THE SCHOOL. WE EXPECT THAT EACH STUDENT WILL BRING HIS OR HER BEST EFFORTS TO THE SHARED ENDEAVOR OF LEARNING AND THAT THE SCHOOL, THROUGH ITS FACULTY, WILL ENGAGE AND ENCOURAGE EACH STUDENT'S GROWTH, HAPPINESS, AND WELL-BEING. WE ASPIRE FOR ALL MIDDLESEX STUDENTS TO DEVELOP PERSONAL INTEGRITY, INTELLECTUAL VITALITY AND DISCIPLINE, AND RESPECT FOR THEMSELVES AND FOR OTHERS. WE EXPECT EACH STUDENT TO ENGAGE ENERGETICALLY AND COOPERATIVELY IN THE LIFE OF THE SCHOOL, AND WE SEEK TO INSPIRE IN ALL STUDENTS THE DESIRE TO SEEK UNDERSTANDING OF THEMSELVES AND THE LARGER WORLD, BOTH NOW AND IN THEIR FUTURES. OPERATING PRINCIPLES - ACCOMPLISHING THIS MISSION IS THE SHARED RESPONSIBILITY OF THE WHOLE MIDDLESEX COMMUNITY. FOR THAT REASON THE SCHOOL EXPECTS, OF ALL ITS STUDENTS, DEDICATION TO ACADEMIC EXCELLENCE, WILLINGNESS TO WORK ENERGETICALLY AND COOPERATIVELY TOWARD COMMON GOALS IN ALL ACTIVITIES, RESPECT BOTH FOR THEMSELVES AND FOR THE INDIVIDUAL DIFFERENCES OF OTHERS, AND DETERMINATION TO REACH BEYOND MERELY COMFORTABLE LIMITS OF KNOWLEDGE AND EXPERIENCE. IN THE SAME SPIRIT THE SCHOOL PROVIDES STUDENTS WITH SMALL CLASSES AND A STRONG, RICH, VARIED CURRICULUM; WITH A TALENTED, DEDICATED, AND ACCESSIBLE FACULTY, MOST OF WHOM TEACH, COACH, AND LIVE ON CAMPUS WITH THE STUDENTS; WITH OUTSTANDING FACILITIES FOR ACADEMICS, ATHLETICS, AND THE ARTS; AND WITH A SOCIAL COMMUNITY WHOSE MEMBERS REPRESENT DIFFERENT BACKGROUNDS AND INTERESTS. TAKEN TOGETHER, THESE ELEMENTS - SUPPLEMENTED BY ADVISING, COUNSELING, SCHOOL ASSEMBLIES AND SPECIAL PROGRAMS, WEEKLY CHAPEL GATHERINGS, INFORMAL COURSES AND PEER SUPPORT GROUPS: MAKE UP A SECONDARY SCHOOL EXPERIENCE REMARKABLE FOR ITS BREADTH AND DEPTH. FORM 990, PART VI, SECTION A, LINE 2 ROBERT M. BASS AND ANNE T. BASS HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B ONCE THE DRAFT FORM 990 IS PREPARED, IT IS FIRST REVIEWED BY MIDDLESEX MANAGEMENT, INCLUDING THE DIRECTOR OF FINANCE, CHIEF FINANCIAL & OPERATIONS OFFICER, AND THE HEAD OF SCHOOL. IT IS THEN DISTRIBUTED TO THE AUDIT COMMITTEE FOR THEIR REVIEW. AN AUDIT COMMITTEE MEETING IS THEN SCHEDULED TO DISCUSS THE RETURN, ANY CHANGES IN THE CURRENT YEAR, OR DIFFICULTIES ENCOUNTERED, ETC. AFTER THE AUDIT COMMITTEE REVIEWS AND DISCUSSES THE DRAFT AND PROPOSES CHANGES, IF NEEDED, THEY WILL APPROVE THE FORM 990 AS THEY DISCUSSED. AFTER APPROVAL BY THE AUDIT COMMITTEE, AND PRIOR TO FILING, A COPY OF THE FORM 990 WILL BE DISTRIBUTED TO ALL BOARD MEMBERS ELECTRONICALLY (OR, WHERE EMAIL IS NOT AVAILABLE, A HARD COPY OF THE FORM IS PROVIDED VIA MAIL) PRIOR TO THE ACTUAL FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST/GOVERNANCE QUESTIONNAIRES ARE DISTRIBUTED ANNUALLY TO ALL CURRENT VOTING BOARD MEMBERS, ALL TRUSTEE EMERITI (NON-VOTING), ALL FORMER TRUSTEES THAT WERE VOTING BOARD MEMBERS WITHIN THE LAST FIVE YEARS, ALL KEY-EMPLOYEES, AND ALL FORMER KEY-EMPLOYEES THAT LEFT EMPLOYMENT WITH THE SCHOOL AT SOME POINT WITHIN THE LAST 5 YEARS. IF FORMS ARE NOT COMPLETED, A SECOND REQUEST IS SENT OUT. ALL FORMS ARE REVIEWED BY THE CHAIR OF OUR TRUSTEE AND GOVERNANCE COMMITTEE AND A SUMMARY IS REPORTED TO THE AUDIT COMMITTEE. IF CONFLICTS EXIST, THE CONFLICTED MEMBER ABSTAINS FROM VOTING ON ANY DECISIONS MADE BY THEIR RESPECTIVE COMMITTEES OR THE BOARD. IT IS DOCUMENTED IN THE MEETING MINUTES WHERE THE VOTE IS CONCERNED. FORM 990, PART VI, SECTION B, LINE 15 AN INDEPENDENT COMMITTEE OF THE BOARD OF TRUSTEES IS CHARGED WITH ANNUALLY EVALUATING THE PRINCIPAL SALARIED OFFICER (HEAD OF SCHOOL). THE CHAIR OF THE BOARD APPOINTS THREE TO FOUR INDIVIDUALS TO SERVE ON THE COMPENSATION COMMITTEE. THE PRACTICE HAS BEEN TO APPOINT THE CHAIR, TREASURER, AND CHAIR/VICE-CHAIR OF THE TRUSTEES AND GOVERNANCE COMMITTEE. THE COMMITTEE IS ADVISED BY OUTSIDE COUNSEL WHO ATTENDS THE MEETINGS, TAKES MINUTES, AND ADVISES THE COMMITTEE MEMBERS OF ANY LEGAL ISSUES OR QUESTIONS THAT ARISE IN THE PROCESS. THE CHAIR OF THE BOARD ASKS ALL TRUSTEES TO COMPLETE EVALUATION FORMS AT THE SPRING BOARD MEETING. THE CHAIR OF THE BOARD ALSO SOLICITS ORAL COMMENTS FROM THE TRUSTEES DURING AN EXECUTIVE SESSION AT THE SPRING BOARD MEETING AS WELL AS CONDUCTS, WITH OTHER MEMBERS OF THE COMPENSATION COMMITTEE, 360 DEGREE INTERVIEWS WITH SENIOR ADMINISTRATORS. IN PREPARATION FOR THE INTERVIEW WITH THE HEAD OF SCHOOL IN JUNE, THE COMPLETED TRUSTEE EVALUATION FORMS ARE SUMMARIZED FOR THE MEMBERS OF THE COMPENSATION COMMITTEE. THE HEAD OF SCHOOL ALSO PREPARES A SUMMARY OF ACCOMPLISHMENT OF THE PRIOR SCHOOL YEAR AND STATEMENT OF GOALS MET FROM THE PREVIOUS REVIEW AND ESTABLISHED FOR THE COMING SCHOOL YEAR. AFTER THE INTERVIEW WITH THE HEAD, THE HEAD IS EXCUSED, AND THE COMMITTEE (NOT INCLUDING ANY MEMBER WHO MAY HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT BEING REVIEWED) DELIBERATES IN EXECUTIVE SESSION TO DISCUSS THE PERFORMANCE REVIEW AND TO REVIEW A COMPILATION OF COMPENSATION AND BENEFIT DATA ASSEMBLED ON A BLIND BASIS BY THE ASSOCIATION OF BUSINESS OFFICERS OF PREPARATORY SCHOOLS IN ORDER TO ESTABLISH A BASIS FOR ADJUSTING THE HEAD'S COMPENSATION AND BENEFITS FOR THE COMING SCHOOL YEAR. AFTER REACHING A CONCLUSION ON ADJUSTMENTS FOR THE COMPENSATION AND BENEFIT ARRANGEMENTS FOR THE COMING YEAR THAT WOULD REPRESENT COMPENSATION BASED ON THE COMMITTEE'S REVIEW OF THE COMPARABILITY DATA, THE HEAD IS INVITED TO HEAR THE RESULTS. THE DECISIONS ARE RECORDED IN THE MINUTES OF THE COMMITTEE, AND THE CHANGES IN COMPENSATION (IF ANY) ARE MEMORIALIZED IN A LETTER AND WHERE NECESSARY IN AMENDMENTS TO THE EMPLOYMENT CONTRACT. THE RESULTS ARE REPORTED TO THE FULL BOARD IN EXECUTIVE SESSION (WITHOUT THE HEAD PRESENT) AT THE FALL BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 15B: THE COMPENSATION COMMITTEE REVIEWS THE COMPENSATION FOR THE CFO AND CHIEF ADVANCEMENT OFFICERS. THE ANNUAL COMPENSATION PROCESS INVOLVES ATTENTION TO AND AVOIDANCE OF CONFLICTS OF INTEREST, USE OF COMPARABILITY DATA GATHERED AND PRESENTED BY AN OUTSIDE COMPENSATION EXPERT AND CONTEMPORANEOUS DOCUMENTATION OF THE MEETINGS, DELIBERATIONS AND DECISIONS. ALL OTHER INDIVIDUALS' RATES ARE APPROVED BY THE HEAD OF SCHOOL. THESE PROCESSES WERE MOST RECENTLY UNDERTAKEN IN 2024. FORM 990, PART VI, SECTION C, LINE 19 MIDDLESEX SCHOOL PROVIDES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS, AND FORM 990 WITHOUT SCHEDULE B UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF CHARITABLE REMAINDER TRUSTS 42,015,464. POOLED INCOME FUND (1) POOLED INCOME FUND MA MIDDLESEX SCHOOL T 1 CHARITABLE REMAINDER TRUSTS (18) CHARITABLE REMAINDER TRUSTS MA MIDDLESEX SCHOOL T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0