Totals
- Total revenue
- $86,198,742
- Total expenses
- $95,321,635
- Contributions and grants received
- $14,957,306
- Grants paid
- $17,332,742
- Program service revenue
- $65,083,373
- Investment income
- $6,158,063
- Other revenue
- $0
- Total assets, end of year
- $514,718,965
- Total liabilities, end of year
- $86,152,618
- Net assets or fund balances, end of year
- $428,566,347
- Program services expenses (Part IX)
- $69,274,775
- Management and general expenses
- $21,948,651
- Fundraising expenses
- $4,098,209
- Program service expenses (Part III)
- $69,274,775
Program services were 72.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$14,957,306
-
1g · Noncash contributions included above
$2,762,891
-
2a · Program service revenue: TUITION
total $62,611,773 · related or exempt $62,611,773
-
2b · Program service revenue: AUXILIARY INCOME
total $2,471,600 · related or exempt $2,270,960 · unrelated business $200,640
-
3 · Investment income
total $4,080,386 · unrelated business -$153,814 · excluded $4,234,200
-
7a · Gross sales of assets other than inventory
securities $104,368,699
-
7b · Less cost or other basis and sales expenses
securities $102,291,022
-
7c · Gain or loss
securities $2,077,677
-
7d · Net gain or loss
total $2,077,677 · unrelated business -$203,240 · excluded $2,280,917
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $277,264 · program services $277,264
-
2 · Grants to domestic individuals
total $17,055,478 · program services $17,055,478
-
5 · Compensation of officers, directors and key employees
total $1,909,239 · program services $230,306 · management and general $1,327,677 · fundraising $351,256
-
7 · Other salaries and wages
total $31,227,576 · program services $23,478,013 · management and general $5,665,189 · fundraising $2,084,374
-
8 · Pension plan contributions
total $2,224,445 · program services $1,615,899 · management and general $454,715 · fundraising $153,831
-
9 · Other employee benefits
total $5,533,496 · program services $3,789,657 · management and general $1,360,872 · fundraising $382,967
-
10 · Payroll taxes
total $2,240,322 · program services $1,570,146 · management and general $498,648 · fundraising $171,528
-
11b · Fees: legal
total $143,003 · management and general $142,781 · fundraising $222
-
11c · Fees: accounting
total $154,484 · program services $32,289 · management and general $122,195
-
11e · Fees: professional fundraising services
total $14,430 · fundraising $14,430
-
11f · Fees: investment management
total $3,900,301 · management and general $3,900,301
-
11g · Fees: other
total $2,762,943 · program services $1,404,773 · management and general $1,111,647 · fundraising $246,523
-
12 · Advertising and promotion
total $236,280 · program services $35,000 · management and general $167,265 · fundraising $34,015
-
13 · Office expenses
total $3,690,670 · program services $1,865,548 · management and general $1,622,212 · fundraising $202,910
-
14 · Information technology
total $793,471 · program services $13,883 · management and general $779,588
-
16 · Occupancy
total $2,020,818 · program services $1,617,923 · management and general $391,194 · fundraising $11,701
-
17 · Travel
total $1,287,066 · program services $1,041,121 · management and general $167,746 · fundraising $78,199
-
19 · Conferences, conventions and meetings
total $76,681 · program services $26,120 · management and general $50,559 · fundraising $2
-
20 · Interest
total $1,511,087 · program services $1,209,817 · management and general $292,520 · fundraising $8,750
-
22 · Depreciation, depletion and amortization
total $7,165,912 · program services $5,737,228 · management and general $1,387,191 · fundraising $41,493
-
23 · Insurance
total $892,015 · management and general $892,015
-
24a · Other expenses: DINING SERVICES
total $4,861,443 · program services $4,501,161 · management and general $222,105 · fundraising $138,177
-
24b · Other expenses: FACILITIES
total $3,209,627 · program services $2,550,096 · management and general $641,980 · fundraising $17,551
-
24c · Other expenses: ACADEMIC PROG. & EVENTS
total $1,849,358 · program services $1,223,053 · management and general $466,025 · fundraising $160,280
-
24e · All other expenses
total $284,226 · management and general $284,226
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $7,750,527 · end of year $25,140,969
-
3 · Pledges and grants receivable
beginning of year $7,750,210 · end of year $7,030,246
-
4 · Accounts receivable
beginning of year $444,453 · end of year $261,996
-
10a · Land, buildings and equipment: cost or other basis
$193,546,302
-
10b · Land, buildings and equipment: accumulated depreciation
$112,896,075
-
10c · Land, buildings and equipment, net
beginning of year $70,592,849 · end of year $80,650,227
-
11 · Investments: publicly traded securities
beginning of year $65,286,447 · end of year $43,169,591
-
12 · Investments: other securities
beginning of year $328,886,031 · end of year $354,651,164
-
15 · Other assets
beginning of year $2,795,091 · end of year $3,814,772
-
17 · Accounts payable and accrued expenses
beginning of year $8,050,803 · end of year $9,945,989
-
19 · Deferred revenue
beginning of year $1,449,411 · end of year $5,846,218
-
20 · Tax-exempt bond liabilities
beginning of year $60,083,413 · end of year $67,784,927
-
25 · Other liabilities
beginning of year $2,118,601 · end of year $2,575,484
-
27 · Net assets without donor restrictions
beginning of year $62,334,046 · end of year $64,669,511
-
28 · Net assets with donor restrictions
beginning of year $349,469,334 · end of year $363,896,836
Mission and programs · 2022
Mission
MILTON ACADEMY CULTIVATES IN ITS STUDENTS A PASSION FOR LEARNING AND A RESPECT FOR OTHERS. EMBRACING DIVERSITY AND THE PURSUIT OF EXCELLENCE, WE CREATE A COMMUNITY IN WHICH INDIVIDUALS DEVELOP COMPETENCE, CONFIDENCE AND CHARACTER. SEE SCHEDULE O FOR FULL DESCRIPTION.MILTON ACADEMY CULTIVATES IN ITS STUDENTS A PASSION FOR LEARNING AND A RESPECT FOR OTHERS. EMBRACING DIVERSITY AND THE PURSUIT OF EXCELLENCE, WE CREATE A COMMUNITY IN WHICH INDIVIDUALS DEVELOP COMPETENCE, CONFIDENCE AND CHARACTER. OUR ACTIVE LEARNING ENVIRONMENT, IN AND OUT OF THE CLASSROOM, DEVELOPS CREATIVE AND CRITICAL THINKERS, UNAFRAID TO EXPRESS THEIR IDEAS, PREPARED TO SEEK MEANINGFUL LIFETIME SUCCESS AND TO LIVE BY OUR MOTTO, "DARE TO BE TRUE."
Activities or mission (Part I)
MILTON ACADEMY IS AN INDEPENDENT COLLEGE PREPARATORY K-12 SCHOOL, BOARDING AND DAY IN GRADES 9-12.
-
Withheld by Nonprofiteer: this text may name a private individual.
Expenses $60,702,988 · Grants $16,603,741 · Revenue $60,628,186
-
THE MOUNTAIN SCHOOL OF MILTON ACADEMY IS AN INDEPENDENT SEMESTER PROGRAM THAT PROVIDES HIGH SCHOOL JUNIORS THE OPPORTUNITY TO LIVE AND WORK ON AN ORGANIC FARM IN RURAL VERMONT. EACH SEMESTER THE MOUNTAIN SCHOOL DRAWS 45 HIGH-ACHIEVING STUDENTS FROM ALL OVER THE COUNTRY. COURSES PROVIDE A DEMANDING, INTEGRATED LEARNING EXPERIENCE THAT TAKES FULL ADVANTAGE OF THE SCHOOL'S SMALL SIZE AND MOUNTAIN CAMPUS. STUDENTS COME FROM DIFFERENT BACKGROUNDS AND SCHOOLS AROUND THE COUNTRY, AND ARE CHALLENGED TO WORK TOGETHER AND LEARN FROM EACH OTHER, AS THEY EXPLORE THE INTERSECTION OF THE SCHOOL'S FARM, ACADEMIC PROGRAM, AND RESIDENTIAL LIFE. THE GOAL IS FOR STUDENTS TO RETURN TO THEIR SCHOOLS AND COMMUNITIES, MORE CLEAR ABOUT THEMSELVES AND BETTER PREPARED TO BECOME EFFECTIVE CITIZENS.
Expenses $3,020,512 · Grants $729,001 · Revenue $2,745,649
-
THROUGH INTERSCHOLASTIC AND INTRAMURAL SPORTS, AS WELL AS PHYSICAL EDUCATION COURSES, ALL MILTON ACADEMY STUDENTS ARE INVOLVED IN PHYSICALLY ACTIVE AND CHALLENGING PURSUITS THAT HELP FORM AN EXCEPTIONAL EDUCATIONAL EXPERIENCE. ATHLETIC ACTIVITY IS CERTAINLY AN EXPRESSION OF ONE FORM OF INTELLIGENCE, AN INTELLIGENCE THAT NEEDS TO BE DEVELOPED AND NURTURED AS DOES ANY OTHER.
Expenses $2,520,725
-
MILTON ACADEMY PROVIDES A SATURDAY COURSE TO GIFTED STUDENTS, RENTAL OF FACILITIES, ADULT WORKSHOPS, AN OUTDOOR PROGRAM, AFTER SCHOOL ACTIVITIES, AND YEARBOOK PROGRAM.
Expenses $2,445,302 · Revenue $1,508,898
-
THE COLLEGE COUNSELING OFFICE AT MILTON BUILDS ITS PROGRAM AROUND INDIVIDUALISM. WE BELIEVE THAT THE COLLEGE COUNSELING PROCESS BEGINS AND ENDS WITH THE STUDENT. WE KNOW THAT EACH STUDENT HAS A DIFFERENT STORY, OUR GUIDING PRINCIPLE IS MUCH LIKE THAT OF A GOOD TEACHER: START WHERE THE STUDENT IS.
Expenses $585,248
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.
Listed in Part VII
-
David B BrewsterDAVID B BREWSTER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Douglas Crocker IIDOUGLAS CROCKER II
TRUSTEE (UNTIL 6/30/23)
- Total calculated
- $0
- Hours/week
- 1
-
Jason DillowJASON DILLOW
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Shadi FarokhzadSHADI FAROKHZAD
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Yeng Felipe ButlerYENG FELIPE BUTLER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
John B FitzgibbonsJOHN B FITZGIBBONS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Eleanor Haller-JordenELEANOR HALLER-JORDEN
TRUSTEE (UNTIL 6/30/23)
- Total calculated
- $0
- Hours/week
- 1
-
Sonu KalraSONU KALRA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Elizabeth B KatzELIZABETH B KATZ
TRUSTEE (UNTIL 6/30/23)
- Total calculated
- $0
- Hours/week
- 1
-
William KnowltonWILLIAM KNOWLTON
TRUSTEE (UNTIL 6/30/23)
- Total calculated
- $0
- Hours/week
- 1
-
Ravi MallelaRAVI MALLELA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
John D McEvoyJOHN D MCEVOY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Meika NeblettMEIKA NEBLETT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Osaremen F OkoloOSAREMEN F OKOLO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Eugene F ReillyEUGENE F REILLY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Hendrick SinHENDRICK SIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Gabriel SunshineGABRIEL SUNSHINE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Patrick TsangPATRICK TSANG
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Justin M WalshJUSTIN M WALSH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Sylvia P WestphalSYLVIA P WESTPHAL
TRUSTEE (UNTIL 6/30/23)
- Total calculated
- $0
- Hours/week
- 1
-
Helen ZhuHELEN ZHU
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Claire Hughes JohnsonCLAIRE HUGHES JOHNSON
TRUSTEE - PRESIDENT
- Total calculated
- $0
- Hours/week
- 4
-
Peter R KaganPETER R KAGAN
TRUSTEE - TREASURER
- Total calculated
- $0
- Hours/week
- 3
-
Yunli LouYUNLI LOU
TRUSTEE - VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 3
-
Luis M ViceiraLUIS M VICEIRA
TRUSTEE - VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 3
-
Edward E Wendell JrEDWARD E WENDELL JR
TRUSTEE - VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 3
-
Ronnell L WilsonRONNELL L WILSON
TRUSTEE - VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 3
-
Stuart I MathewsSTUART I MATHEWS
TRUSTEE - SECRETARY
- Total calculated
- $0
- Hours/week
- 3
-
Theodorick BlandTHEODORICK BLAND
HEAD OF SCHOOL (UNTIL JUNE 2023)
- Total calculated
- $974,101
- From this org
- $700,687
- From related orgs
- $0
- Other
- $273,414
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $534,719
- Bonus
- $0
- Other
- $165,968
- Deferred
- $166,390
- Nontaxable benefits
- $107,024
- Filer's total
- $974,101
-
Heidi Vanderbilt-BrownHEIDI VANDERBILT-BROWN
CHIEF FINANCIAL & OPERATING OFFICER
- Total calculated
- $351,885
- From this org
- $296,265
- From related orgs
- $0
- Other
- $55,620
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $274,648
- Bonus
- $0
- Other
- $21,617
- Deferred
- $24,400
- Nontaxable benefits
- $31,220
- Filer's total
- $351,885
-
Lisa WinickLISA WINICK
CHIEF ADVANCEMENT OFFICER
- Total calculated
- $422,431
- From this org
- $306,343
- From related orgs
- $0
- Other
- $116,088
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $270,593
- Bonus
- $15,000
- Other
- $20,750
- Deferred
- $24,098
- Nontaxable benefits
- $91,990
- Filer's total
- $422,431
-
David Ball Until 63022DAVID BALL UNTIL 63022
PRINCIPAL, UPPER SCHOOL
- Total calculated
- $245,013
- From this org
- $173,916
- From related orgs
- $0
- Other
- $71,097
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $154,715
- Bonus
- $0
- Other
- $19,201
- Deferred
- $13,959
- Nontaxable benefits
- $57,138
- Filer's total
- $245,013
-
Carol A Giusti-CahalaneCAROL A GIUSTI-CAHALANE
DIRECTOR OF DEVELOPMENT
- Total calculated
- $239,778
- From this org
- $192,535
- From related orgs
- $0
- Other
- $47,243
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $192,489
- Bonus
- $0
- Other
- $46
- Deferred
- $16,240
- Nontaxable benefits
- $31,003
- Filer's total
- $239,778
-
Deborah O'TooleDEBORAH O'TOOLE
CHIEF HR AND RISK OFFICER
- Total calculated
- $216,755
- From this org
- $169,394
- From related orgs
- $0
- Other
- $47,361
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $153,435
- Bonus
- $0
- Other
- $15,959
- Deferred
- $14,411
- Nontaxable benefits
- $32,950
- Filer's total
- $216,755
-
Paul RebuckPAUL REBUCK
DEAN OF ENROLLMENT & FINANCIAL AID
- Total calculated
- $272,398
- From this org
- $187,503
- From related orgs
- $0
- Other
- $84,895
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $187,281
- Bonus
- $0
- Other
- $222
- Deferred
- $15,359
- Nontaxable benefits
- $69,536
- Filer's total
- $272,398
-
Samantha E Dixon EversoleSAMANTHA E DIXON EVERSOLE
DIRECTOR OF ADVANCEMENT OPERATIONS
- Total calculated
- $216,626
- From this org
- $172,593
- From related orgs
- $0
- Other
- $44,033
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $164,891
- Bonus
- $7,500
- Other
- $202
- Deferred
- $13,958
- Nontaxable benefits
- $30,075
- Filer's total
- $216,626
-
Francis Patti Until 63023FRANCIS PATTI UNTIL 63023
PRINCIPAL, LOWER SCHOOL
- Total calculated
- $238,765
- From this org
- $212,630
- From related orgs
- $0
- Other
- $26,135
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $182,221
- Bonus
- $0
- Other
- $30,409
- Deferred
- $14,645
- Nontaxable benefits
- $11,490
- Filer's total
- $238,765
-
Alden SmithALDEN SMITH
FMR DIRECTOR OF THE MOUNTAIN SCHOOL
- Total calculated
- $263,157
- From this org
- $221,790
- From related orgs
- $0
- Other
- $41,367
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $84,831
- Bonus
- $0
- Other
- $136,959
- Deferred
- $16,764
- Nontaxable benefits
- $24,603
- Filer's total
- $263,157
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · Travel for companions
- 1a · Housing allowance or residence for personal use
- 1a · Personal services (maid, chauffeur, chef)
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4b · Supplemental nonqualified retirement plan
- 7 · Other non-fixed payments
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 1A
- TRAVEL FOR COMPANIONS IS LIMITED TO THE HEAD OF SCHOOL AND IS DONE SO WITH DISCRETION ON A CASE BY CASE BASIS WHEN DEEMED APPROPRIATE. THE TRAVEL FOR COMPANIONS BENEFIT IS TREATED AS NONTAXABLE COMPENSATION. HOUSING BENEFITS ARE NORMATIVE FOR HEAD OF SCHOOL AND CERTAIN OTHER KEY EMPLOYEES, OFFICERS, AND HIGHLY COMPENSATED EMPLOYEES TO BE AVAILABLE TO STUDENTS 24 HOURS A DAY TO FULLFILL DUTIES. HOUSING BENEFITS ARE TREATED AS A NONTAXABLE WORKING CONDITION FRINGE BENEFIT. PERSONAL SERVICES ARE PROVIDED IN THE FORM OF HOUSE CLEANING AND IS TREATED AS NONTAXABLE COMPENSATION.
- PART I, LINE 4B
- THEODORICK BLAND RECEIVED A NON-TAXABLE CONTRIBUTION TOWARDS HIS 457(F) PROGRAM IN 2022 IN THE AMOUNT OF $141,990.
- PART I, LINE 7
- THE COMPENSATION COMMITTEE PROVIDES DISCRETION TO THE HEAD OF SCHOOL TO APPROVE ADDITIONAL COMPENSATION PAYMENTS OF $10,000 OR LESS. LISA WINICK, $15,000 SAMANTHA E. DIXON EVERSOLE, $7,500
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
TOWN OF MILTON
$210,000
VOLUNTARY GRANT
-
MILTON FIRE DEPARTMENT
$12,500
VOLUNTARY GRANT
-
MILTON POLICE DEPARTMENT
$12,500
VOLUNTARY GRANT
-
MILTON FOUNDATION FOR EDUCATION
$12,500
VOLUNTARY GRANT
-
MILTON TEEN CENTER
$7,500
VOLUNTARY GRANT
-
MILTON LIBRARY FOUNDATION
$7,500
VOLUNTARY GRANT
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 13 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202431359349311523
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.