Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $217,404

• 1f · All other contributions, gifts and grants

  $10,074,092

• 1g · Noncash contributions included above

  $279,903

• 2a · Program service revenue: TUITION & FEES

  total $36,489,783 · related or exempt $36,489,783

• 2b · Program service revenue: EDUCATIONAL FEES

  total $3,194,537 · related or exempt $3,194,537

• 2c · Program service revenue: BOARDING & LUNCH

  total $2,895,870 · related or exempt $2,895,870

• 2d · Program service revenue: EXTENDED SERVICES

  total $359,683 · related or exempt $359,683

• 2e · Program service revenue: APPLICATIONS, SERVICE

  total $68,799 · related or exempt $68,799

• 2f · All other program service revenue

  total $37,192 · related or exempt $37,192

• 3 · Investment income

  total $2,808,057 · unrelated business -$94,822 · excluded $2,902,879

• 6a · Gross rents

  real property $125,267

• 6b · Less rental expenses

  real property $30,947

• 6c · Rental income or loss

  real property $94,320

• 6d · Net rental income or loss

  total $94,320 · excluded $94,320

• 7a · Gross sales of assets other than inventory

  securities $75,832,073 · other assets $2,100

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

  securities $74,704,571 · other assets $0

• 7c · Gain or loss

  securities $1,127,502 · other assets $2,100

• 7d · Net gain or loss

  total $1,129,602 · unrelated business $26,679 · excluded $1,102,923

• 8a · Fundraising events: gross income

  $489,045

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

  $217,404

• 8b · Fundraising events: direct expenses

  $407,233

• 8c · Net income from fundraising events

  total $81,812 · excluded $81,812

• 9a · Gaming: gross income

  $59,750

• 9b · Gaming: direct expenses

  $60,000

• 9c · Net income from gaming

  total -$250 · excluded -$250

• 10a · Gross sales of inventory

  $562,678

• 10b · Cost of goods sold

  $450,021

• 10c · Net income from sales of inventory

  total $112,657 · unrelated business $26,019 · excluded $86,638

• 11a · Other revenue: CHILD DEVELOPMENT CNTR

  total $641,295 · related or exempt $641,295

• 11b · Other revenue: MISC REWARDS & REBATES

  total $66,925 · excluded $66,925

• 11c · Other revenue: PLAN REVENUE CREDIT

  total $44,837 · excluded $44,837

• 11e · Other revenue, total

  $753,057

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $2,754,500 · program services $2,754,500

• 5 · Compensation of officers, directors and key employees

  total $1,026,305 · management and general $1,026,305

• 7 · Other salaries and wages

  total $23,097,689 · program services $20,078,517 · management and general $1,923,834 · fundraising $1,095,338

• 8 · Pension plan contributions

  total $1,427,272 · program services $1,236,180 · management and general $120,726 · fundraising $70,366

• 9 · Other employee benefits

  total $2,878,961 · program services $2,362,246 · management and general $317,627 · fundraising $199,088

• 10 · Payroll taxes

  total $1,607,240 · program services $1,384,205 · management and general $155,454 · fundraising $67,581

• 11b · Fees: legal

  total $647,371 · management and general $647,371

• 11c · Fees: accounting

  total $82,935 · management and general $82,935

• 11f · Fees: investment management

  total $1,036,701 · management and general $1,036,701

• 11g · Fees: other

  total $204,542 · management and general $184,779 · fundraising $19,763

• 12 · Advertising and promotion

  total $525,731 · management and general $308,144 · fundraising $217,587

• 13 · Office expenses

  total $143,432 · program services $80,449 · management and general $22,508 · fundraising $40,475

• 14 · Information technology

  total $546,635 · program services $546,635

• 16 · Occupancy

  total $1,471,923 · program services $1,251,135 · management and general $147,192 · fundraising $73,596

• 17 · Travel

  total $37,475 · management and general $16,028 · fundraising $21,447

• 19 · Conferences, conventions and meetings

  total $350,762 · program services $178,033 · management and general $125,791 · fundraising $46,938

• 20 · Interest

  total $341,519 · program services $290,291 · management and general $34,152 · fundraising $17,076

• 22 · Depreciation, depletion and amortization

  total $5,536,423 · program services $4,705,960 · management and general $553,642 · fundraising $276,821

• 23 · Insurance

  total $852,645 · management and general $852,645

• 24a · Other expenses: INSTRUCTIONAL SUPPORT

  total $5,087,744 · program services $5,087,744

• 24b · Other expenses: MAINTENANCE & GROUNDS

  total $2,253,742 · program services $1,576,753 · management and general $190,949 · fundraising $486,040

• 24c · Other expenses: SUMMER SCHOOL & CHILD D

  total $1,628,611 · program services $1,628,611

• 24d · Other expenses: ADMINISTRATIVE EXP. & O

  total $230,282 · program services $10,271 · management and general $177,013 · fundraising $42,998

• 24e · All other expenses

  total $155,338 · program services $36,950 · management and general $118,388

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,939 · end of year $7,142

• 2 · Savings and temporary cash investments

  beginning of year $44,090,352 · end of year $40,881,092

• 3 · Pledges and grants receivable

  beginning of year $6,555,909 · end of year $5,562,923

• 4 · Accounts receivable

  beginning of year $3,190,110 · end of year $516,890

• 8 · Inventories for sale or use

  beginning of year $283,836 · end of year $305,176

• 9 · Prepaid expenses and deferred charges

  beginning of year $479,477 · end of year $537,117

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

  $174,733,716

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

  $77,571,989

• 10c · Land, buildings and equipment, net

  beginning of year $95,442,552 · end of year $97,161,727

• 11 · Investments: publicly traded securities

  beginning of year $72,661,577 · end of year $115,185,339

• 12 · Investments: other securities

  beginning of year $111,238,125 · end of year $96,456,225

• 15 · Other assets

  beginning of year $12,485,137 · end of year $14,236,537

• 17 · Accounts payable and accrued expenses

  beginning of year $9,444,424 · end of year $6,582,726

• 19 · Deferred revenue

  beginning of year $37,226,466 · end of year $38,657,828

• 20 · Tax-exempt bond liabilities

  beginning of year $8,044,367 · end of year $7,038,914

• 23 · Secured mortgages and notes payable

  beginning of year $206,757 · end of year $0

• 25 · Other liabilities

  beginning of year $375,335 · end of year $387,318

• 27 · Net assets without donor restrictions

  beginning of year $117,431,067 · end of year $158,730,835

• 28 · Net assets with donor restrictions

  beginning of year $173,703,598 · end of year $159,452,547

The filer's explanations (Part III)

PART I, LINE 1A

THE SCHOOL PROVIDES THE HEAD OF SCHOOL A DISCRETIONARY BUDGET FOR SCHOOL-RELATED EXPENSES. ALL EXPENSES RUN THROUGH THE NORMAL EXPENSE PROCESS AND REQUIRE THE APPROPRIATE SUBSTANTIATION. THE HEAD OF SCHOOL RECEIVES A HOUSING ALLOWANCE PER CONTRACT ($75,000 DURING CALENDER YEAR 2023) . THE SCHOOL HAS DETERMINED THAT THE HOUSING ALLOWANCE IS TAXABLE AND HAS BEEN REPORTED IN SCHEDULE J, PART II, COLUMN B (III).

PART I, LINE 4A

DR. KAREN COLEMAN, THE FORMER HEAD OF SCHOOL, RECEIVED A SEVERANCE PAYMENT OF $346,553 DURING THE CALENDAR YEAR.

PART I, LINE 7

THE HEAD OF SCHOOL RECEIVED A DISCRETIONARY BONUS OF $75,000 DURING THE 2023 CALENDAR YEAR REPORTED IN PART II, COLUMN B(II). THE AMOUNT WAS DETERMINED BY THE COMPENSATION AND REVIEW COMMITTEE.