Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $390,357

• 1f · All other contributions, gifts and grants

  $5,896,300

• 1g · Noncash contributions included above

  $122,839

• 2a · Program service revenue: TUITION AND FEES

  total $20,421,326 · related or exempt $20,421,326

• 2b · Program service revenue: AUXILIARY & OTHER PROG

  total $513,766 · related or exempt $513,766

• 3 · Investment income

  total $215,088 · excluded $215,088

• 7a · Gross sales of assets other than inventory

  securities $122,044

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

  securities $49,938

• 7c · Gain or loss

  securities $72,106

• 7d · Net gain or loss

  total $72,106 · excluded $72,106

• 8a · Fundraising events: gross income

  $80,715

• 8a · Fundraising events: contributions included on line 1c

  $390,357

• 8b · Fundraising events: direct expenses

  $279,529

• 8c · Net income from fundraising events

  total -$198,814 · excluded -$198,814

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $4,036,006 · program services $4,036,006

• 5 · Compensation of officers, directors and key employees

  total $2,526,020 · program services $1,350,105 · management and general $1,032,937 · fundraising $142,978

• 7 · Other salaries and wages

  total $9,703,603 · program services $7,747,274 · management and general $1,590,280 · fundraising $366,049

• 8 · Pension plan contributions

  total $499,299 · program services $416,011 · management and general $73,911 · fundraising $9,377

• 9 · Other employee benefits

  total $1,551,723 · program services $1,242,210 · management and general $269,916 · fundraising $39,597

• 10 · Payroll taxes

  total $860,326 · program services $627,716 · management and general $203,766 · fundraising $28,844

• 11b · Fees: legal

  total $51,885 · management and general $51,885

• 11c · Fees: accounting

  total $89,264 · management and general $89,264

• 11g · Fees: other

  total $443,004 · program services $176,744 · management and general $261,483 · fundraising $4,777

• 12 · Advertising and promotion

  total $155,833 · program services $148,800 · management and general $7,033

• 13 · Office expenses

  total $464,012 · program services $420,092 · management and general $31,017 · fundraising $12,903

• 14 · Information technology

  total $65,651 · program services $65,651

• 16 · Occupancy

  total $1,646,759 · program services $1,523,252 · management and general $82,338 · fundraising $41,169

• 20 · Interest

  total $354,299 · program services $336,056 · management and general $12,717 · fundraising $5,526

• 22 · Depreciation, depletion and amortization

  total $1,445,798 · program services $1,337,363 · management and general $72,290 · fundraising $36,145

• 23 · Insurance

  total $214,464 · program services $198,692 · management and general $10,515 · fundraising $5,257

• 24a · Other expenses: SUPPLIES AND SERVICES

  total $1,703,944 · program services $1,631,653 · management and general $59,602 · fundraising $12,689

• 24b · Other expenses: REPAIRS AND MAINTENANCE

  total $1,228,363 · program services $1,114,084 · management and general $78,668 · fundraising $35,611

• 24c · Other expenses: OTHER EXPENSE

  total $731,481 · program services $280,872 · management and general $409,529 · fundraising $41,080

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $258,860 · end of year $1,110,757

• 2 · Savings and temporary cash investments

  beginning of year $6,673,284 · end of year $8,425,325

• 3 · Pledges and grants receivable

  beginning of year $3,553,186 · end of year $1,378,993

• 4 · Accounts receivable

  beginning of year $7,546,455 · end of year $9,432,736

• 9 · Prepaid expenses and deferred charges

  beginning of year $217,799 · end of year $224,873

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

  $52,089,582

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

  $14,959,659

• 10c · Land, buildings and equipment, net

  beginning of year $26,780,426 · end of year $37,129,923

• 15 · Other assets

  beginning of year $18,357,036 · end of year $17,634,399

• 17 · Accounts payable and accrued expenses

  beginning of year $3,358,037 · end of year $2,882,476

• 19 · Deferred revenue

  beginning of year $15,841,251 · end of year $19,024,146

• 20 · Tax-exempt bond liabilities

  beginning of year $9,833,052 · end of year $16,573,766

• 24 · Unsecured notes and loans payable

  beginning of year $483,254 · end of year $3,932,826

• 25 · Other liabilities

  beginning of year $19,715,537 · end of year $19,233,860

• 27 · Net assets without donor restrictions

  beginning of year $7,063,247 · end of year $6,078,321

• 28 · Net assets with donor restrictions

  beginning of year $7,092,668 · end of year $7,611,611

The filer's explanations (Part III)

PART I, LINE 1A

MARK SILVER IS REQUIRED TO LIVE IN THE HOME FOR THE HEAD OF SCHOOL OWNED BY HILLBROOK SCHOOL PURSUANT TO HIS EMPLOYMENT AGREEMENT. THE 2024 HOUSING BENEFIT OF $40,000 IS TAXABLE AND IS REFLECTED ON HIS W-2. DISCRETIONARY SPENDING IS AVAILABLE BUT NO AMOUNTS WERE EXPENDED IN FISCAL YEAR 2024-25. IF INCURRED, IT WOULD BE APPROVED BY THE BOARD OF TRUSTEES CHAIR.

PART I, LINE 4B

THE SCHOOL MAINTAINS A SECTION 457(F) PLAN FOR THE HEAD OF SCHOOL (HOS) AND THE CHIEF FINANCIAL OFFICER (CFO). DURING THE 2024 CALENDAR YEAR, $61,335 (PRIOR YEARS' ACCRUED DEFERRED COMPENSATION OF $50,000 PLUS INVESTMENT GAINS) WAS DISTRIBUTED TO MARK SILVER (HOS), AND $83,700 (PRIOR YEARS' ACCRUED DEFERRED COMPENSATION OF $75,000 PLUS INVESTMENT GAINS) WAS DISTRIBUTED TO MARGARET RANDAZZO (CFO) UNDER THE 457(F) PLAN. THESE DISTRIBUTIONS HAVE BEEN REPORTED ON SCHEDULE J, PART II, COLUMN B(III), AND INCLUDED IN THE INDIVIDUALS' FORMS W-2. THE PRIOR YEARS' ACCRUED DEFERRED COMPENSATION AMOUNTS HAVE BEEN REPORTED ON SCHEDULE J, PART II, COLUMN (F).