2026-05-12T10:13:19-07:00 2025-06-30 990 2024-07-01 042104265 GROTON SCHOOL GROT 9784483363 282 Farmers Row Groton MA 01450 John Herlihy Chief Financial Officer 9784487566 2026-05-12 1 2024 2025-03-06 01:10:19Z X Temba Maqubela 282 Farmers Row Groton MA 01450 75872522 0 X www.groton.org X 1884 MA Groton School provides college and university preparatory education for students in grades eight to twelve. 27 26 260 300 389065 0 21483356 17577329 22891648 23484000 27055423 25758591 127500 127703 71557927 66947623 7830197 8212586 0 0 24207435 25622434 0 0 3006606 23311100 24462129 55348732 58297149 16209195 8650474 670317540 703509165 67380063 63425967 602937477 640083198 Groton School's mission is to inspire lives of character, scholarship, leadership, and service within a diverse, inclusive, and close-knit community. 0 0 41122177 7992566 23484000 Education of 381 students in grades eight through twelve in a non-profit, co-educational college preparatory boarding school. The School provides aid assistance for 41% of its students in the form of tuition grants, housing support, travel assistance, and subsidies for books, supplies, and laptop purchases. 0 0 0 41122177 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 0 0 0 1 126 0 1 260 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 27 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X John Herlihy 9784487566 282 Farmers Row Groton MA 01450 Temba Maqubela Headmaster 60 0 X X 689697 0 384762 John MacEachern Director of Development 50 0 X 489648 0 81780 John Herlihy Chief Financial Officer 50 0 X 328550 0 63882 Harold W Anderson III Assistant Headmaster 50 0 X 215520 0 99006 John T Conner Teacher and Dean of Faculty 50 0 X 200640 0 92135 Ian Gracey Director of Admissions 50 0 X 197949 0 82283 James Raney Controller and Deputy CFO 50 0 X 217228 0 43366 Ellen Boiselle Board Member 4 0 X 0 0 0 Nicholas F Burgin Board Member 4 0 X 0 0 0 Merrill Stubbs Dorman Board Member 4 0 X 0 0 0 Chandler Bass Evans Board Member 4 0 X 0 0 0 Andrew K Ferrer Board Member 4 0 X 0 0 0 Ann Gildroy Fox Board Member 4 0 X 0 0 0 William B Gray Board Member 4 0 X 0 0 0 Monica Spencer Green Board Member 4 0 X 0 0 0 Kevin M Griffith Board Member 4 0 X 0 0 0 Allison Chin Hays Board Member 4 0 X 0 0 0 Maryam A M Mujica Board Member 4 0 X 0 0 0 Grace Song Park Board Member 4 0 X 0 0 0 David Porter Board Member 4 0 X 0 0 0 Fatima V Sanandaji Board Member 4 0 X 0 0 0 Rachel E Slack Board Member 4 0 X 0 0 0 Adam Monroe Spence Board Member 4 0 X 0 0 0 Stacey Clover Symonds Board Member 4 0 X 0 0 0 Alexander Lowell Thorndike Board Member 4 0 X 0 0 0 Thomas Varkey Board Member 4 0 X 0 0 0 William C Vrattos Board Member 4 0 X 0 0 0 Alfred Winkler Board Member 4 0 X 0 0 0 Nancy Yang Board Member 4 0 X 0 0 0 Benjamin N Pyne President 4 0 X X 0 0 0 Gary C Hill Vice President 4 0 X X 0 0 0 Charles S Duggan Secretary 4 0 X X 0 0 0 Nathaniel A Bristol Treasurer 4 0 X X 0 0 0 2339232 0 847214 38 0 1 0 FLIK 2 International Drive Rye Brook NY 10573 Food Service 2680540 Mahan Slate Roofing Company 699 Silver Street Agawam MA 01001 Construction 1891480 MJ Cataldo Inc PO Box 1343 Littleton MA 01460 Construction 928212 Cambridge Associates LLC 125 High Street Boston MA 02110 Investment Advisor 939171 Eagle Cleaning Corporation 997 Millbury Street Suite A Worcester MA 01607 Cleaning Services 791940 25 0 0 0 0 0 17577329 808168 17577329 Tuition 611600 22807688 22807688 0 0 Technology Support Fee 611710 228600 228600 0 0 Laptop Rental and Lease 611710 170100 170100 0 0 Health Center Fee 611710 125200 125200 0 0 Application Fees 611710 77400 77400 0 0 75012 75012 0 0 23484000 7005272 0 438307 6566965 0 0 0 0 0 0 0 0 233613 0 160975 0 72638 0 72638 0 9731 62907 27418333 0 8665014 0 18753319 0 18753319 0 -58973 18812292 0 0 0 0 0 0 0 0 0 0 0 0 153975 98910 55065 0 0 55065 0 66947623 23484000 389065 25497229 220020 220020 7992566 7992566 0 0 0 0 1645887 0 1645887 0 188893 188893 0 0 16698352 12424615 2405080 1868657 1840683 1177564 448686 214433 4114112 2258844 1529223 326045 1134507 725793 276548 132166 0 0 0 0 314495 14930 299565 0 157843 20160 137683 0 0 0 0 0 0 0 2664212 0 2664212 0 1537779 372454 1138137 27188 398474 151993 177378 69103 158404 65613 72084 20707 676778 260919 403232 12627 0 0 0 0 3679755 3651453 28302 0 287302 97175 150397 39730 0 0 0 0 49133 26858 22150 125 1653977 0 1653977 0 0 0 0 0 9143788 8830788 313000 0 597282 66892 530390 0 Food 1311319 1239999 43797 27523 General Merchandise and Equipment 488185 484898 2759 528 Special Event 977643 717520 52496 207627 Other Regulatory 276839 112168 80392 84279 88921 20062 92991 -24132 58297149 41122177 14168366 3006606 56529 47169 1689291 2688155 10190055 10815775 729830 407680 0 0 0 0 0 0 185400 209061 494506 642100 290016620 162321739 131428966 127694881 270313380 276190200 247995773 277580334 15797 15797 7218013 7218013 0 0 670317540 703509165 8120670 7366484 0 0 3430096 3317254 52293148 49117473 0 0 0 0 0 0 0 0 3536149 3624756 67380063 63425967 X 308853629 319950903 294083848 320132295 602937477 640083198 670317540 703509165 X 8650474 28177965 0 0 0 317282 X 0 1 X 1 0 X 21680439 14431830 19257652 21483356 17577329 94430606 0 0 0 0 0 0 0 0 0 0 0 0 21680439 14431830 19257652 21483356 17577329 94430606 1728909 92701697 4617899 4419099 8291549 7427009 6780545 31536101 0 773496 0 35124 389065 1197685 77846 124130 145589 166872 153975 668412 127832804 113815457 0.72518 0.71906 X Schedule A, Part II, Line 10 Groton School is broadly supported in nature and is deemed to meet the 33 1/3% public support test under current guidance. Since the school uses the special rule based on meeting the 33 1/3% support test on Schedule B, the school is required to disclose the Part II, support schedule for organizations described in Sections 170(B)(1)(A)(VI). RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 0 0 0 Schedule C, Part II-B, Line 1 The school is a member of a number of associations such as the National Association of Episcopal Schools, New England Association of Schools and Colleges, and the Association of Independent Schools in New England, which may use a portion of their membership dues to lobby on behalf of members. The portion of dues and fees allocated to lobbying activities is not determinable. 0 0 X X 0 512368163 8253808 51288268 7863733 16283441 0 547763065 476587579 6981379 53232057 7243273 17189579 0 512368163 467068923 9572020 24711529 6453531 18311362 0 476587579 477247136 8343162 -1539590 6267897 10713888 0 467068923 358682522 11890148 130230943 4612648 18943829 0 477247136 0.44 0.28 0.28 0 0 0 7461688 7461688 0 244069309 139640368 104428941 0 0 0 0 0 18309318 13244744 5064574 0 20176305 9436627 10739678 127694881 0 0 Hedge Funds 171951589 F Venture Capital Funds 51862148 F Private Equity Funds 32097165 F Real Assets Funds 21669432 F 277580334 0 Interest Rate Swap Agreements 1789413 Charitable Remainder Unitrusts 1265264 Charitable Gift Annuity 570079 3624756 X 85035673 28177965 0 0 -7685588 20492377 64543296 2664212 -259885 2404327 66947623 47889952 0 0 0 362590 362590 47527362 2664212 8105575 10769787 58297149 Schedule D, Part III, Line 1 The collections, which include artwork, books, and artifacts of historical significance have been acquired through contributions since the school's inception and are not recognized as assets on the statement of financial position. Schedule D, Part III, Line 4 The artwork acquired by the school since its inception often relates to the school's history and has either been purchased or acquired by donation. This collection is displayed throughout the campus for viewing by students, faculty, and visitors. Schedule D, Part V, Line 4 The endowment is used to support the mission of the school. Schedule D, Part X, Line 2 The School follows FASB ASC 740, Income Taxes, which clarifies the accounting for uncertain income tax positions 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 the taxing authorities. Management evaluated the School's tax positions and concluded that the School had no material uncertain income tax positions as of June 30, 2025 or 2024. Aside from exceptional circumstances (such as fraud), the School is only subject to income tax examination by the U.S. federal, state or local authorities for three years from the filing date. The School will account for interest and penalties related to uncertain tax positions, if any, as part of tax expense. Schedule D, Part XI, Line 2d Accrued pension liability 365,502, unrealized gain on the value of split interest gifts 219,923, tuition grants (7,270,530), the recovery provision for uncollectable pledges (165,438), and the operating expenses netted with revenue on the financial statements (835,045). Schedule D, Part XI, Line 4b Rental expenses of 160,975 and the cost of goods sold at the school store 98,910. Schedule D, Part XII, Line 2d Rental expenses 160,975, the cost of goods sold at the school store 98,910, unrealized loss swaps 102,705. and the operating expenses netted with revenue on the financial statements (835,045). Schedule D, Part XII, Line 4b Tuition grants of 7,270,530 and the operating expenses netted with revenue on the financial statements 835,045. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 Groton's diversity and inclusion statement is noted on its website. It states that Groton School's mission is to inspire lives of character, scholarship, leadership, and services within a diverse, inclusive, and close-knit community. East Asia and the Pacific 0 0 Fundraising March 2025 fund raising reception in Hong Kong. 32000 East Asia and the Pacific 0 0 Program Services Admissions event in Hong Kong in July 2024. 15000 Europe (including Iceland and Greenland) 0 0 Speaking at Seminars or Conferences A faculty member attended the Music Education conference in Finland in July 2024. 2500 Europe (including Iceland and Greenland) 0 0 Speaking at Seminars or Conferences A faculty member attended the Royal Shakespeare Workshop in the UK in July 2024. 2000 East Asia and the Pacific 0 0 Program Services A faculty member traveling to Taiwan for a school sponsored trip in March 2025. 2000 Europe (including Iceland and Greenland) 0 0 Program Services A faculty coach travel to the World Master Squash Championships to Amsterdam in March 2025. 4000 Europe (including Iceland and Greenland) 0 0 Program Services A school sponsored orchestra trip to Europe involving 31 students in March 2025. The cost included financial aid for qualified students. 109000 Europe (including Iceland and Greenland) 0 0 Program Services A school sponsored global education trip to Scotland involving 14 students in August 2024. The cost included financial aid for qualified students. 57000 Europe (including Iceland and Greenland) 0 0 Program Services A school sponsored hockey team trip to Europe involving 46 students in December 2024. The cost included financial aid for qualified students. 176000 Sub-Saharan Africa 0 0 Program Services A school sponsored orchestra trip to South Africa involving 8 students in July 2024. 10000 South Asia 0 0 Program Services A school sponsored trip to India for the Global Partnerships and International Education conference involving 5 students in June 2025. The cost included financial aid for qualified students. 24000 East Asia and the Pacific 0 0 Investments 37026000 Central America and the Caribbean 0 0 Investments 23858000 0 0 61317500 1 0 1 1 1 0 Schedule F, Part I, Line 3 Column A indicates the region where some investment managers were domiciled. These investments funds are managed within the US by domestic firms, with capital contributions made to these firms before being invested abroad. Additionally, some investments have their legal domicile in Central America and the Caribbean region. 1 Town of Groton 173 Main Street Groton MA 01450 046001164 205000 0 Cash Payment Records The contribution was made to help the Town of Groton subsidize their annual operating costs. Town of Groton 173 Main Street Groton MA 01450 046001164 10000 0 Cash Payment Records To Promote and preserve the town through the Destination Groton Gift Fund. 1 0 Tuition Grant 172 0 7270530 Total credits applied to student bills Credits are applied to the tuition bill as a means of subsidizing the overall tuition costs to qualified students attending Groton School during the academic year and the available summer program. Travel Grant 160 385206 0 Credits applied to monthly bill to offset recorded payments Incidental Grant 104 231152 0 Credits applied to monthly bill to offset recorded payments Laptop Grant 53 63341 0 Credits applied to monthly bill to offset recorded payments Parent Travel Grant 47 42337 0 Credits applied to monthly bill to offset recorded payments Schedule I, Part I, Line 2 The school works directly with town officials and local charitable organizations to assess future needs and the use of current and past monetary grants. The school also makes several other small donations throughout the year based on charitable purposes, historical relationship, and current need. These one-time contributions are not typically monitored by the CFO or Headmaster. Financial aid grants are awarded annually to qualified students and are typically applied as credits to the tuition bill up to the amount of the grant for the current academic year. In some instances, cash payments are issued directly to parents as reimbursements for academic expenses or travel related costs when applicable. X X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 Temba Maqubela Headmaster 672572 0 0 0 17125 0 304255 0 80507 0 1074459 0 0 0 John MacEachern Director of Development 306913 0 0 0 182735 0 51273 0 30507 0 571428 0 0 0 John Herlihy Chief Financial Officer 323022 0 0 0 5528 0 32832 0 31050 0 392432 0 0 0 Harold W Anderson III Assistant Headmaster 195520 0 0 0 20000 0 22531 0 76475 0 314526 0 0 0 John T Conner Teacher and Dean of Faculty 122510 0 0 0 78130 0 15736 0 76399 0 292775 0 0 0 Ian Gracey Director of Admissions 197949 0 0 0 0 0 21408 0 60875 0 280232 0 0 0 James Raney Controller and Deputy CFO 187228 0 0 0 30000 0 17343 0 26023 0 260594 0 0 0 Schedule J, Part I, Line 1a Teaching faculty are required to live in on-campus housing as a condition of employment. A taxable housing stipend is paid to a few administrators who live off campus. The Headmaster's home includes some space that is reserved for school-related meetings and student activities. The cost of maintaining this space is paid by the school and recorded as an operating expense. The school will only pay for the cost of a traveling spouse when they are an authorized participant in school related functions. In such cases, the cost is treated as a non-taxable work-related event. The discretionary account is provided to the headmaster as part of the annual budget. The account is used to fund small school related expenses and, as a result, is not reported as a taxable fringe benefit. Schedule J, Part I, Line 3 The salary of Groton's Headmaster is determined annually by the Compensation Committee of the Board. As input to their decisions, the committee reviews the results of the annual APOPS salary survey and the recommendations from an outside consultant. ABOPS is a 40-member organization of independent schools whom we consider to be our peers. Schedule J, Part I, Line 4 The Headmaster's contract, approved by the President of the Board and the Compensation Committee, includes deferred compensation arrangements under Section 457(f). The vesting periods of these plans vary, typically spanning three to five years. The deferred amounts are reported in Schedule J, Part II, Column (C). Schedule J, Part I, Line 7 Most of the listed stipends are either fixed or part of a contracted distribution, but one unplanned stipend was awarded in recognition of service to the school during a CFO transition. A Massachusetts Development Finance Agency 043431814 2013-10-17 40777500 Remaining balance from 2013A note. 2013B & C were refinanced in 2020. 0 0 0 B Massachusetts Development Finance Agency 043431814 2020-02-26 34222500 Reissuance of Series 2013B and 2013C Notes 0 0 0 A 16660000 0 40777500 0 0 0 0 0 0 0 40777500 0 1 0 1 1 B 9000000 0 34222500 0 0 0 0 0 0 0 34222500 0 1 0 1 1 A 0 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 0 1 A 0 0 0 0 1 1 Morgan Stanley Capital Services Bank of New York Mellon 30 0 0 0 0 1 B 0 0 0 0 0 0 0 0 1 A 1 B 1 Schedule K, Part IV, Line 4b-10/17/2013 40,777,500 Massachusetts Development Finance Agency The Bank of New York Mellon swap 20 year maturity, The Bank of New York Mellon swap 38 year maturity, and Morgan Stanley Capital Services swap 30 year maturity. Vuyelwa Maqubela Family member of Temba Maqubela 188893 Teacher and Advisor to Head of School 0 X 90 808168 FMV 0 0 1 0 Schedule M, Part I, Line 33 The number of security contributions is based on the number of gifts and not the number of shares received. Form 990, Part VI, Section B, Line 11b A draft of the Form 990 without Schedule B was distributed electronically to each member of the Audit Committee. After a thorough review, the Committee had an opportunity to ask questions and suggest revisions during a group conference call. The draft was also posted to a secure electronic portal, accessible by the full Board prior to filing. Form 990, Part VI, Section B, Line 12c All school officers, key employees, and members of the Board of Trustees are required annually to read the conflict-of-interest policy and sign the document. The signature indicates an understanding of the guidelines and an assurance to the Board that they are in compliance with the policy. Any potential conflict must be disclosed and reviewed by the President of the Board to determine if any further action is required. Any conflict will prohibit such individuals from participating in the governing body's deliberations and transaction decisions related to the conflict. Form 990, Part VI, Section B, Line 15 An employment contract between the Headmaster and the school is updated periodically and renewed annually. Each year, the President of the Board and the Compensation Committee review the salaries and benefits for the Headmaster and other senior administrators. The salary survey provided by the Association of Business Officers of Preparatory Schools is used as a guide and a point of comparison. The annual salary and benefit offerings for the Chief Financial Officer are made by the Headmaster. All salaries and benefit offerings for the remaining school employees are updated annually and approved by the Chief Financial Officer or the Headmaster up to the aggregate approved by the Board of Trustees. Form 990, Part VI, Section C, Line 19 The Form 990 without Schedule B can be viewed on-line by going to candid.org, propublica.org, causeiq.com, and other independently operated websites. The conflict-of-interest policy, governing documents, and financial statements may be viewed any time upon request for the same disclosure set forth in Section 6104(d). Form 990, Part XI, Line 9 Change in value of interest rate swap agreements (102,705), accrued pension liability 365,502, change in value of split interest agreements 219,923, and recovery provision of uncollectable pledges (165,438). Charitable Remainder Trust (4) PO Box 991 Groton MA 01450 Charitable Trust MA Groton School T 1 Pooled Income Fund PO Box 991 Groton MA 01450 Pooled Income Fund MA Groton School T 1 Growth Pooled Income Fund PO Box 991 Groton MA 01450 Pooled Income Fund MA Groton School T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0