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Nonprofiteer
← PACE ACADEMY INC

Form 990 for tax year 2022

Filed by PACE ACADEMY INC.

Totals

Total revenue
$44,552,991
Total expenses
$45,694,119
Contributions and grants received
$2,949,636
Grants paid
$3,123,649
Program services expenses (Part IX)
$39,141,555
Management and general expenses
$4,841,720
Fundraising expenses
$1,710,844
Program service expenses (Part III)
$39,141,555

Program services were 85.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Frederick G Assaf

    Head of School

    Total calculated
    $919,648
    From this org
    $725,949
    From related orgs
    $0
    Other
    $193,699
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $525,182
    Bonus
    $25,000
    Other
    $175,767
    Deferred
    $24,400
    Nontaxable benefits
    $170,084
    Filer's total
    $920,433

  • Aj Lashley

    CFO

    Total calculated
    $312,776
    From this org
    $280,220
    From related orgs
    $0
    Other
    $32,556
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $269,980
    Bonus
    $10,000
    Other
    $240
    Deferred
    $19,775
    Nontaxable benefits
    $13,566
    Filer's total
    $313,561

  • Heather L White

    Director of Advancement

    Total calculated
    $278,284
    From this org
    $241,772
    From related orgs
    $0
    Other
    $36,512
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $208,024
    Bonus
    $9,000
    Other
    $24,748
    Deferred
    $13,525
    Nontaxable benefits
    $23,477
    Filer's total
    $278,774

  • Michael Gannon

    Head of Upper School

    Total calculated
    $255,760
    From this org
    $213,391
    From related orgs
    $0
    Other
    $42,369
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,839
    Bonus
    $10,000
    Other
    $552
    Deferred
    $17,828
    Nontaxable benefits
    $25,312
    Filer's total
    $256,531

  • Dorothy Hutheson

    Head of Lower School

    Total calculated
    $224,032
    From this org
    $188,318
    From related orgs
    $0
    Other
    $35,714
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,980
    Bonus
    $0
    Other
    $42,338
    Deferred
    $8,125
    Nontaxable benefits
    $28,265
    Filer's total
    $224,708

  • Graham Anthony

    Head of Middle School

    Total calculated
    $190,072
    From this org
    $167,126
    From related orgs
    $0
    Other
    $22,946
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,910
    Bonus
    $6,000
    Other
    $216
    Deferred
    $10,165
    Nontaxable benefits
    $13,477
    Filer's total
    $190,768

  • Jennifer McGurn

    Director of Admissions

    Total calculated
    $189,266
    From this org
    $156,009
    From related orgs
    $0
    Other
    $33,257
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,613
    Bonus
    $7,000
    Other
    $5,396
    Deferred
    $9,580
    Nontaxable benefits
    $24,351
    Filer's total
    $189,940

  • Cameron M Bready

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Dan Brooks

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Ronnie Brown

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Marisa Chin Yee

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Elizabeth Correll Richards

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Kenneth Crumley

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Steven J DeFrancis

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Heather Dexter

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Mike Doheny

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Derek J Hardesty

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Charles B Hastie

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Amy Hertz Agami

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Cara Isdell Lee

    Trustee (leave of absence)

    Total calculated
    $0
    Hours/week
    0

  • Dr Michele M Johnson

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Wenke Lee

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Jessica Levenson

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Lauren Linder

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Jim Maske

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Ted McMullan

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Bijon Memar

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Caren Merlin

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Beatriz R Perez

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Bill Selmon

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Douglas R Shanley-Balyeat

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Gregory McKittrick Simmons Jr

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Sandeep Soni

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Reid T Funston

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Nicole Felton

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • B Craig Owens '72

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Judge Clude L Reese III

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Alan H Shaw

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Daniel J Ferry

    Trustee

    Total calculated
    $0
    Hours/week
    0

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 — 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 · Tax indemnification and gross-up payments
  • 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 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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
TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: The Head of School has income reported to him for the amount of tuition remission and college tuition he receives along with the corresponding amount of related income tax. HOUSING ASSISTANCE: As a condition of employment and for the conveniences of the school, the Head of School is required to reside in campus housing. Based on the facts and circumstances of the requirements of his respective role and responsibilities, it is the opinion of the School that the housing cost is non-taxable to the Head of School. Section 119 of the Internal Revenue Code is reviewed annually to determine the applicability and compliance with this section. PERSONAL SERVICES: Cleaning services and maintenance are provided for the Head of School's residence.
PART I, LINE 3
The Compensation Committee (Board Chair, Board Vice-Chair, and Finance Committee Chairman) reviews salaries from other peer independent schools, reports from the National Association of Independent Schools, and other sources in developing compensation for the Head of School. Substantiation is contemporaneous between the compensation committee and the CFO to Keep on file.
Part I, Line 7
NONFIXED BONUSES ARE PAID AT THE DISCRETION AND APPROVAL OF THE HEAD OF SCHOOL AND THE BOARD CHAIR. THEY ARE NOT TIED TO REVENUES.

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202431359349304438

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