Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $2,566,165

• 1g · Noncash contributions included above

  $157,500

• 2a · Program service revenue: TUITION, BOARD, MISC

  total $16,081,799 · related or exempt $16,081,799

• 3 · Investment income

  total $572 · excluded $572

• 7a · Gross sales of assets other than inventory

  securities $1,528

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

  securities $0

• 7c · Gain or loss

  securities $1,528

• 7d · Net gain or loss

  total $1,528 · related or exempt $1,528

• 8a · Fundraising events: gross income

  $177,142

• 8b · Fundraising events: direct expenses

  $54,978

• 8c · Net income from fundraising events

  total $122,164 · excluded $122,164

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $3,580,746 · program services $3,580,746

• 5 · Compensation of officers, directors and key employees

  total $503,873 · program services $411,774 · management and general $80,988 · fundraising $11,111

• 7 · Other salaries and wages

  total $7,669,703 · program services $6,267,825 · management and general $1,232,758 · fundraising $169,120

• 8 · Pension plan contributions

  total $135,915 · program services $269,209 · management and general -$135,198 · fundraising $1,904

• 9 · Other employee benefits

  total $1,493,527 · program services $1,181,345 · management and general $272,198 · fundraising $39,984

• 10 · Payroll taxes

  total $602,010 · program services $481,781 · management and general $107,394 · fundraising $12,835

• 11c · Fees: accounting

  total $899 · management and general $899

• 12 · Advertising and promotion

  total $12,434 · management and general $12,434

• 20 · Interest

  total $695,819 · program services $509,923 · management and general $185,896

• 22 · Depreciation, depletion and amortization

  total $1,380,783 · program services $1,380,783

• 23 · Insurance

  total $1,435,725 · program services $1,435,725

• 24a · Other expenses: UTILITIES

  total $705,771 · program services $705,771

• 24b · Other expenses: STUDENT ATHLETICS

  total $399,210 · program services $399,210

• 24c · Other expenses: FOOD SERVICE

  total $396,760 · program services $396,760

• 24d · Other expenses: MAINTENANCE EXPENSE

  total $287,309 · program services $287,309

• 24e · All other expenses

  total $1,383,442 · program services $793,764 · management and general $574,669 · fundraising $15,009

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,266,057 · end of year $2,538,141

• 3 · Pledges and grants receivable

  beginning of year $225,858 · end of year $573,484

• 4 · Accounts receivable

  beginning of year $2,507,485 · end of year $2,559,703

• 8 · Inventories for sale or use

  beginning of year $79,816 · end of year $79,816

• 9 · Prepaid expenses and deferred charges

  beginning of year $715,219 · end of year $722,002

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

  $57,439,598

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

  $19,603,389

• 10c · Land, buildings and equipment, net

  beginning of year $38,729,657 · end of year $37,836,209

• 11 · Investments: publicly traded securities

  beginning of year $2,483,734 · end of year $8,110

• 15 · Other assets

  beginning of year $3,336,651 · end of year $3,087,146

• 17 · Accounts payable and accrued expenses

  beginning of year $273,101 · end of year $178,796

• 19 · Deferred revenue

  beginning of year $14,306,566 · end of year $13,444,516

• 23 · Secured mortgages and notes payable

  beginning of year $12,834,624 · end of year $14,074,412

• 25 · Other liabilities

  beginning of year $2,676,504 · end of year $2,299,864

• 27 · Net assets without donor restrictions

  beginning of year $16,719,773 · end of year $17,353,402

• 28 · Net assets with donor restrictions

  beginning of year $2,533,909 · end of year $53,621

The filer's explanations (Part III)

PART I, LINE 1A

HOUSING AND MAID SERVICE IS PROVIDED FOR THE CONVENIENCE OF THE EMPLOYER SINCE THE ORGANIZATION IS A BOARDING SCHOOL WITH MINOR CHILDREN ON THE PREMISES AS WELL AS A STABLE WITH HORSES AND A FACILITY FOR WHICH THE EMPLOYEE HAS RESPONSIBILITY FOR SUPERVISING ON A 24/7 AS NEEDED BASIS. CERTAIN EMPLOYEE ARE THEREFORE HOUSED IN SCHOOL OWNED HOUSING ON OR ADJACENT TO THE SCHOOL CAMPUS.