Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $81,660

• 1f · All other contributions, gifts and grants

  $7,837,149

• 1g · Noncash contributions included above

  $533,645

• 2a · Program service revenue: TUITION AND FEES

  total $24,147,239 · related or exempt $24,147,239

• 2b · Program service revenue: PROGRAM SUPPORTING REVENUES

  total $299,745 · related or exempt $299,745

• 3 · Investment income

  total $940,855 · unrelated business $267 · excluded $940,588

• 6a · Gross rents

  real property $30,850

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $30,850

• 6d · Net rental income or loss

  total $30,850 · excluded $30,850

• 7a · Gross sales of assets other than inventory

  securities $14,389,714

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

  securities $14,352,684 · other assets $440,891

• 7c · Gain or loss

  securities $37,030 · other assets -$440,891

• 7d · Net gain or loss

  total -$403,861 · excluded -$403,861

• 10a · Gross sales of inventory

  $445,721

• 10b · Cost of goods sold

  $347,105

• 10c · Net income from sales of inventory

  total $98,616 · related or exempt $98,616

• 11a · Other revenue: OTHER REVENUE

  total $270,759 · related or exempt $198,702 · excluded $72,057

• 11e · Other revenue, total

  $270,759

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $30,000 · program services $30,000

• 2 · Grants to domestic individuals

  total $5,181,013 · program services $5,181,013

• 5 · Compensation of officers, directors and key employees

  total $749,819 · program services $46,172 · management and general $472,786 · fundraising $230,861

• 6 · Compensation of disqualified persons

  total $170,609 · program services $170,609

• 7 · Other salaries and wages

  total $8,868,957 · program services $7,349,407 · management and general $640,246 · fundraising $879,304

• 8 · Pension plan contributions

  total $589,548 · program services $504,409 · management and general $3,364 · fundraising $81,775

• 9 · Other employee benefits

  total $2,273,495 · program services $2,067,415 · management and general $53,402 · fundraising $152,678

• 10 · Payroll taxes

  total $667,325 · program services $524,964 · management and general $69,158 · fundraising $73,203

• 11b · Fees: legal

  total $12,870 · management and general $12,870

• 11c · Fees: accounting

  total $75,490 · management and general $75,490

• 11e · Fees: professional fundraising services

  total $20,437 · fundraising $20,437

• 11f · Fees: investment management

  total $174,534 · management and general $174,534

• 11g · Fees: other

  total $111,705 · program services $31,581 · management and general $79,975 · fundraising $149

• 13 · Office expenses

  total $52,177 · program services $27,587 · management and general $18,071 · fundraising $6,519

• 16 · Occupancy

  total $3,648,253 · program services $3,195,542 · management and general $356,227 · fundraising $96,484

• 20 · Interest

  total $794,623 · program services $794,623

• 22 · Depreciation, depletion and amortization

  total $3,417,175 · program services $2,392,023 · management and general $854,294 · fundraising $170,858

• 23 · Insurance

  total $538,349 · program services $484,514 · management and general $53,835

• 24a · Other expenses: FOOD SERVICE

  total $1,955,295 · program services $1,955,295

• 24b · Other expenses: INSTRUCTIONAL, ATHLETIC

  total $1,517,824 · program services $1,517,824

• 24c · Other expenses: ALUMNI, PUBLICATIONS AN

  total $430,228 · management and general $86,046 · fundraising $344,182

• 24d · Other expenses: FACULTY AND INSTRUCTION

  total $267,913 · program services $267,913

• 24e · All other expenses

  total $1,469,916 · program services $756,516 · management and general $659,922 · fundraising $53,478

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $11,023,278 · end of year $5,804,573

• 2 · Savings and temporary cash investments

  beginning of year $8,843,390 · end of year $6,106,858

• 3 · Pledges and grants receivable

  beginning of year $4,212,498 · end of year $3,979,153

• 4 · Accounts receivable

  beginning of year $145,929 · end of year $124,734

• 8 · Inventories for sale or use

  beginning of year $210,002 · end of year $221,886

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,025,151 · end of year $1,090,797

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

  $126,400,555

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

  $44,853,985

• 10c · Land, buildings and equipment, net

  beginning of year $74,598,647 · end of year $81,546,570

• 11 · Investments: publicly traded securities

  beginning of year $11,672,259 · end of year $18,420,052

• 12 · Investments: other securities

  beginning of year $50,397,072 · end of year $48,259,236

• 15 · Other assets

  beginning of year $496,661 · end of year $498,210

• 17 · Accounts payable and accrued expenses

  beginning of year $3,149,349 · end of year $2,728,885

• 19 · Deferred revenue

  beginning of year $8,964,121 · end of year $7,400,631

• 20 · Tax-exempt bond liabilities

  beginning of year $24,546,239 · end of year $24,288,014

• 25 · Other liabilities

  beginning of year $57,278 · end of year $49,696

• 27 · Net assets without donor restrictions

  beginning of year $90,042,205 · end of year $94,579,510

• 28 · Net assets with donor restrictions

  beginning of year $35,865,695 · end of year $37,005,333

The filer's explanations (Part III)

PART I, LINE 1A

FACULTY MEMBERS AND OTHER EMPLOYEESS THAT RECEIVE HOUSING ARE REQUIRED TO RESIDE ON CAMPUS AS A CONDITON OF EMPLOYMENT. HOUSING IS AVAILABLE BASED ON AVAILABILITY. THE VALUE OF SCHOOL HOUSING PROVIDED FOR THIS PURPOSE MEETS THE REQUIREMENT FOR TAX EXEMPTION UNDER IRC SECTION 119, AND ACCORDINGLY, IS INCLUDED IN NON-TAXABLE BENEFITS. THE FOLLOWING INDIVIDUALS, LISTED ON PART II, RECEIVED HOUSING: JONATHAN DOWNS, JEFFREY SMITH, ALAN TOUSIGNANT, AND JARRATT CLARKE. IN ADDITION, PER THE TERMS OF THE EMPLOYMENT AGREEMENTS THE FOLLOWING BENEFITS ARE AVAILABLE AND INCLUDED AS OTHER REPORTABLE COMPENSATION: A) A VEHICLE AVAILABLE FOR PERSONAL USE, RECEIVED BY JONATHAN DOWNS B) MEMBERSHIP TO SOCIAL CLUBS (PAID FOR DIRECTLY BY THE SCHOOL), RECEIVED BY JONATHAN DOWNS, JEFFREY SMITH, AND ROBERT ANTHONY.

PART I, LINE 4A

DURING CALENDAR YEAR 2022, MR. CASERTANO THE FORMER HEAD OF SCHOOL, RECEIVED THE FINAL INSTALLMENTS OF HIS SEVERANCE AGREEMENTS TOTALING $309,000. THIS IS REPORTED AS OTHER REPORTABLE COMPENSATION.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• MILLBROOK GRAMERCY HOLDINGS LLC

  INVESTMENTS · NY · income $0 · assets $1,622,020

  Directly controlled by MILLBROOK SCHOOL