Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $1,495,386

• 1g · Noncash contributions included above

  $111,538

• 2a · Program service revenue: TUITION AND FEES

  total $11,222,028 · related or exempt $11,222,028

• 2b · Program service revenue: ANCILLARY PROGRAM SERVICES

  total $650,197 · related or exempt $650,197

• 3 · Investment income

  total $440,585 · excluded $440,585

• 7a · Gross sales of assets other than inventory

  securities $452,602 · other assets $1,200

• 7b · Less cost or other basis and sales expenses

  securities $112,772 · other assets $0

• 7c · Gain or loss

  securities $339,830 · other assets $1,200

• 7d · Net gain or loss

  total $341,030 · excluded $341,030

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $3,466,323 · program services $3,466,323

• 3 · Grants to foreign organizations and individuals

  total $1,095,823 · program services $1,095,823

• 5 · Compensation of officers, directors and key employees

  total $824,236 · program services $230,616 · management and general $367,169 · fundraising $226,451

• 7 · Other salaries and wages

  total $3,731,740 · program services $3,050,621 · management and general $453,014 · fundraising $228,105

• 8 · Pension plan contributions

  total $218,885 · program services $157,597 · management and general $43,777 · fundraising $17,511

• 9 · Other employee benefits

  total $657,893 · program services $525,499 · management and general $91,841 · fundraising $40,553

• 10 · Payroll taxes

  total $326,274 · program services $233,885 · management and general $60,861 · fundraising $31,528

• 11b · Fees: legal

  total $64,390 · management and general $64,390

• 11c · Fees: accounting

  total $78,855 · management and general $78,855

• 11f · Fees: investment management

  total $57,771 · management and general $57,771

• 11g · Fees: other

  total $2,718,201 · program services $2,155,744 · management and general $429,546 · fundraising $132,911

• 12 · Advertising and promotion

  total $157,736 · program services $157,736

• 13 · Office expenses

  total $67,970 · management and general $67,970

• 16 · Occupancy

  total $1,559,274 · program services $1,277,385 · management and general $200,118 · fundraising $81,771

• 17 · Travel

  total $110,439 · program services $110,439

• 20 · Interest

  total $763,016 · program services $644,398 · management and general $76,157 · fundraising $42,461

• 22 · Depreciation, depletion and amortization

  total $2,484,391 · program services $2,206,603 · management and general $178,350 · fundraising $99,438

• 23 · Insurance

  total $286,121 · program services $286,121

• 24a · Other expenses: PROGRAM SUPPLIES

  total $805,286 · program services $805,286

• 24b · Other expenses: TUITION REMISSION

  total $192,500 · program services $192,500

• 24c · Other expenses: DEVELOPMENT SUPPLIES

  total $165,556 · fundraising $165,556

• 24d · Other expenses: MAINTENANCE SUPPLIES

  total $101,257 · program services $71,434 · management and general $19,147 · fundraising $10,676

• 24e · All other expenses

  total $16,681 · program services $7,528 · fundraising $9,153

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,630,678 · end of year $383,435

• 2 · Savings and temporary cash investments

  beginning of year $525,625 · end of year $415,307

• 3 · Pledges and grants receivable

  beginning of year $316,170 · end of year $126,160

• 4 · Accounts receivable

  beginning of year $24,709 · end of year $433,068

• 8 · Inventories for sale or use

  beginning of year $43,757 · end of year $55,773

• 9 · Prepaid expenses and deferred charges

  beginning of year $352,622 · end of year $313,535

• 10a · Land, buildings and equipment: cost or other basis

  $64,106,956

• 10b · Land, buildings and equipment: accumulated depreciation

  $26,332,290

• 10c · Land, buildings and equipment, net

  beginning of year $35,554,042 · end of year $37,774,666

• 11 · Investments: publicly traded securities

  beginning of year $15,097,361 · end of year $14,375,541

• 12 · Investments: other securities

  beginning of year $86,280 · end of year $99,527

• 15 · Other assets

  beginning of year $81,595 · end of year $74,402

• 17 · Accounts payable and accrued expenses

  beginning of year $1,586,609 · end of year $2,056,953

• 19 · Deferred revenue

  beginning of year $2,279,874 · end of year $2,744,956

• 20 · Tax-exempt bond liabilities

  beginning of year $13,557,494 · end of year $15,515,616

• 23 · Secured mortgages and notes payable

  beginning of year $263,266 · end of year $2,886,204

• 25 · Other liabilities

  beginning of year $827,305 · end of year $598,013

• 27 · Net assets without donor restrictions

  beginning of year $23,700,811 · end of year $21,208,426

• 28 · Net assets with donor restrictions

  beginning of year $11,497,480 · end of year $9,041,246

The filer's explanations (Part III)

PART I, LINE 1A

THE HEAD OF SCHOOL AS CHIEF EXECUTIVE OFFICER WAS REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT FOR A BOARDING SCHOOL. THE SCHOOL PROVIDES A HOME FOR THE HEAD OF SCHOOL AND HIS FAMILY AS PART OF HIS SALARY ARRANGEMENT. THE VALUATION OF THE HOUSING BENEFIT IS DETERMINED THROUGH DATA COMPARISON WITH SIMILAR SCHOOLS IN THE INDEPENDENT SCHOOLS ASSOCIATION OF NORTHERN NEW ENGLAND OF WHICH TILTON SCHOOL IS A MEMBER. THE SCHOOL DOES PROVIDE PERSONAL MAID SERVICE FOR THE HOME OF THE HEAD OF SCHOOL. AS THE HOME IS OFTEN USED FOR MEETINGS AND FUNDRAISING ACTIVITIES, CLEANING SERVICES ARE PROVIDED THROUGH THE SCHOOL'S HOUSEKEEPING DIVISION. THE VALUATION OF THIS SERVICE HAS BEEN COMPUTED BY DETERMINING THE NUMBER OF PERSONNEL ASSIGNED TO THIS TASK AND THE HOURS PER WEEK. THE FORMER HEAD OF SCHOOL RECEIVED A SEVERANCE AMOUNTING TO $257,382 PAID IN FISCAL YEAR 2025.