Totals
- Total revenue
- $186,768,593
- Total expenses
- $150,737,144
- Contributions and grants received
- $45,200,612
- Grants paid
- $25,473,175
- Program service revenue
- $82,390,133
- Investment income
- $58,678,292
- Other revenue
- $499,556
- Total assets, end of year
- $1,911,522,647
- Total liabilities, end of year
- $206,135,384
- Net assets or fund balances, end of year
- $1,705,387,263
- Program services expenses (Part IX)
- $118,358,374
- Management and general expenses
- $19,420,804
- Fundraising expenses
- $12,957,966
- Program service expenses (Part III)
- $118,358,374
Program services were 78.5% 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
$45,200,612
-
1g · Noncash contributions included above
$4,730,286
-
2a · Program service revenue: TUITION AND FEES
total $77,134,168 · related or exempt $77,134,168
-
2b · Program service revenue: COURSE PROGRAM & MATERIALS
total $2,618,898 · related or exempt $2,618,898
-
2c · Program service revenue: HOCKEY RINK
total $1,165,047 · related or exempt $846,942 · unrelated business $318,105
-
2d · Program service revenue: ALUMNI EVENTS
total $328,849 · related or exempt $328,849
-
2e · Program service revenue: FOOD SERVICES
total $171,466 · related or exempt $171,466
-
2f · All other program service revenue
total $971,705 · related or exempt $971,705
-
3 · Investment income
total $10,834,495 · unrelated business $837,292 · excluded $9,997,203
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $362,776,921
-
7b · Less cost or other basis and sales expenses
securities $314,933,124
-
7c · Gain or loss
securities $47,843,797
-
7d · Net gain or loss
total $47,843,797 · unrelated business $421,638 · excluded $47,422,159
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$1,691
-
10b · Cost of goods sold
$2,085
-
10c · Net income from sales of inventory
total -$394 · related or exempt -$294 · unrelated business -$100
-
11a · Other revenue: COURTS & CAGE
total $26,250 · unrelated business $26,250
-
11b · Other revenue: INCOME FROM AUCTION OF ART
total $473,700 · excluded $473,700
-
11e · Other revenue, total
$499,950
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $489,613 · program services $489,613
-
2 · Grants to domestic individuals
total $24,983,562 · program services $24,983,562
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $4,650,571 · program services $609,714 · management and general $2,929,286 · fundraising $1,111,571
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $49,637,621 · program services $39,787,029 · management and general $3,717,779 · fundraising $6,132,813
-
8 · Pension plan contributions
total $4,284,441 · program services $3,375,367 · management and general $370,867 · fundraising $538,207
-
9 · Other employee benefits
total $8,411,633 · program services $7,197,478 · management and general $439,820 · fundraising $774,335
-
10 · Payroll taxes
total $3,895,788 · program services $2,897,048 · management and general $437,470 · fundraising $561,270
-
11a · Fees: management
total $303,981 · program services $114,748 · management and general $189,233
-
11b · Fees: legal
total $77,997 · management and general $77,997
-
11c · Fees: accounting
total $225,064 · management and general $225,064
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $10,950 · fundraising $10,950
-
11f · Fees: investment management
total $1,019,981 · management and general $1,019,981
-
11g · Fees: other
total $881,075 · program services $526,504 · management and general $267,145 · fundraising $87,426
-
12 · Advertising and promotion
total $194,362 · program services $152,043 · management and general $42,298 · fundraising $21
-
13 · Office expenses
total $5,969,116 · program services $3,116,099 · management and general $2,225,191 · fundraising $627,826
-
14 · Information technology
total $1,531,232 · program services $984,383 · management and general $380,280 · fundraising $166,569
-
15 · Royalties
total $26,061 · program services $23,116 · management and general $2,945
-
16 · Occupancy
total $4,681,687 · program services $4,146,984 · management and general $511,331 · fundraising $23,372
-
17 · Travel
total $1,144,574 · program services $653,450 · management and general $192,700 · fundraising $298,424
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $841,140 · program services $311,935 · management and general $156,080 · fundraising $373,125
-
20 · Interest
total $5,305,543 · program services $3,649,229 · management and general $994,986 · fundraising $661,328
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $10,088,854 · program services $7,528,025 · management and general $2,351,285 · fundraising $209,544
-
23 · Insurance
total $737,477 · program services $659,953 · management and general $68,128 · fundraising $9,396
-
24a · Other expenses: FOOD SERVICE
total $5,909,610 · program services $5,909,610 · management and general $0 · fundraising $0
-
24b · Other expenses: OFFICE OF PHYSICAL PLANT
total $5,136,037 · program services $4,403,675 · management and general $732,362 · fundraising $0
-
24c · Other expenses: ADMINISTRATION
total $2,018,930 · program services $0 · management and general $2,018,930 · fundraising $0
-
24d · Other expenses: OFFICE OF ACADEMY RESOURCES
total $1,467,669 · program services $1,467,669 · management and general $0 · fundraising $0
-
24e · All other expenses
total $6,812,575 · program services $5,371,140 · management and general $69,646 · fundraising $1,371,789
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $112,018,542 · end of year $88,710,783
-
2 · Savings and temporary cash investments
beginning of year $0 · end of year $0
-
3 · Pledges and grants receivable
beginning of year $79,184,693 · end of year $90,063,872
-
4 · Accounts receivable
beginning of year $4,039,003 · end of year $6,098,667
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $3,602 · end of year $5,883
-
8 · Inventories for sale or use
beginning of year $669,284 · end of year $625,086
-
9 · Prepaid expenses and deferred charges
beginning of year $3,440,576 · end of year $4,497,941
-
10a · Land, buildings and equipment: cost or other basis
$538,832,236
-
10b · Land, buildings and equipment: accumulated depreciation
$171,247,022
-
10c · Land, buildings and equipment, net
beginning of year $349,502,019 · end of year $367,585,214
-
11 · Investments: publicly traded securities
beginning of year $177,709,653 · end of year $210,504,459
-
12 · Investments: other securities
beginning of year $1,137,761,438 · end of year $1,138,487,078
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $4,546,999 · end of year $4,943,664
-
17 · Accounts payable and accrued expenses
beginning of year $16,084,621 · end of year $18,002,741
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $22,129,121 · end of year $22,178,403
-
20 · Tax-exempt bond liabilities
beginning of year $59,681,802 · end of year $59,702,719
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $80,791,888 · end of year $80,809,847
-
25 · Other liabilities
beginning of year $30,246,376 · end of year $25,441,674
-
27 · Net assets without donor restrictions
beginning of year $544,980,309 · end of year $561,930,322
-
28 · Net assets with donor restrictions
beginning of year $1,114,961,692 · end of year $1,143,456,941
Mission and programs · 2022
Mission
SEE SCHEDULE O
-
EDUCATION, 1,149 STUDENTS - REGULAR SESSION GRADES 9 - 12: PHILLIPS ACADEMY IS A RESIDENTIAL SECONDARY SCHOOL WHICH SEEKS STUDENTS OF INTELLIGENCE AND INTEGRITY FROM DIVERSE CULTURAL, RACIAL, SOCIOECONOMIC AND GEOGRAPHIC BACKGROUNDS. THE SCHOOL'S RESIDENTIAL STRUCTURE ENABLES FACULTY TO SUPPORT STUDENTS IN THEIR PERSONAL, SOCIAL AND INTELLECTUAL DEVELOPMENT. THE ACADEMIC PROGRAM FOSTERS EXCELLENCE IN ALL DISCIPLINES WITHIN THE LIBERAL ARTS TRADITION. FACULTY MEMBERS GUIDE STUDENTS IN MASTERING SKILLS, ACQUIRING KNOWLEDGE AND THINKING CRITICALLY, CREATIVELY AND INDEPENDENTLY. THE SCHOOL STRIVES TO HELP YOUNG PEOPLE ACHIEVE THEIR POTENTIAL NOT ONLY INTELLECTUALLY, BUT ALSO ARTISTICALLY, ATHLETICALLY AND MORALLY, SO THAT THEY MAY LEAD RESPONSIBLE AND FULFILLING LIVES. THE ACADEMY IS COMMITTED TO ESTABLISHING AN ENVIRONMENT THAT ENCOURAGES PEOPLE OF DIVERSE BACKGROUNDS AND BELIEFS TO UNDERSTAND AND RESPECT ONE ANOTHER AND TO BE SENSITIVE TO THE DIFFERENCES OF GENDER, ETHNICITY, CLASS AND SEXUAL ORIENTATION. IN ITS PROGRAMS THE SCHOOL SEEKS TO PROMOTE A BALANCE OF LEADERSHIP, COOPERATION AND SERVICE, TOGETHER WITH A DEEPER AWARENESS OF THE GLOBAL COMMUNITY AND NATURAL WORLD. ANDOVER'S 1778 CONSTITUTION CHARGES THE ACADEMY TO PREPARE "YOUTH FROM EVERY QUARTER" TO ASPIRE EQUALLY TO KNOWLEDGE AND GOODNESS. THIS OBLIGATION CHALLENGES STUDENTS IN MIND, BODY AND SPIRIT TO SEE BEYOND THEMSELVES AND TO GO BEYOND THE FAMILIAR; TO REMAIN COMMITTED TO DEVELOPING WHAT IS FINEST IN THEMSELVES AND OTHERS, FOR OTHERS AND THEMSELVES.
Expenses $112,181,745 · Grants $24,589,015 · Revenue $76,557,587
-
EDUCATION, 510 STUDENTS, 191 E-SUMMER STUDENTS, AND 63 ADVANTAGE STUDENTS - SUMMER SESSION: THE SUMMER SESSION OFFERS ITS STUDENTS INTENSIVE ACADEMIC ENRICHMENT THROUGH A VARIETY OF ON-CAMPUS AND VIRTUAL PROGRAMS. ITS FLAGSHIP ON-CAMPUS PROGRAM, A FIVE-WEEK RESIDENTIAL EXPERIENCE, IS CHARACTERIZED BY DEMANDING CLASSES, ENGAGING RECREATIONAL AFTERNOON ACTIVITIES, SOCIAL EVENTS, AND CULTURAL OPPORTUNITIES, AS WELL AS WELCOMING DORMITORIES, ALL OF WHICH ARE DESIGNED TO PREPARE STUDENTS IN GRADES 7 - 12 FOR SECONDARY SCHOOL AND COLLEGIATE RESIDENTIAL LIFE. IN ADDITION, THE FULLY-VIRTUAL E-SUMMER PROGRAM OFFERS STUDENTS FROM AROUND THE GLOBE AN OPPORTUNITY TO ENGAGE MEANINGFULLY WITH TALENTED FACULTY IN A PERSONALIZED, MASTERY-BASED EXPERIENCE, COMBINING SYNCHRONOUS CLASS SESSIONS AND 1:1 LEARNING CONFERENCES WITH ASYNCHRONOUS, SELF-PACED ONLINE LEARNING. IN KEEPING WITH ONE OF THE ACADEMY'S IDEALS "TO BE A PRIVATE SCHOOL WITH A PUBLIC PURPOSE," SUMMER SESSION STRIVES YEARLY TO USE ITS FINANCIAL AID BUDGET IN ORDER TO OFFER THE EXPERIENCE TO AS MANY QUALIFIED AND DESERVING APPLICANTS AS POSSIBLE. SUMMER SESSION WORKS COOPERATIVELY WITH OTHER PROGRAMS SUCH AS MINDS MATTER, THE EOS FOUNDATION, REACH MEMPHIS, THE WIGHT FOUNDATION, AND OTHERS TO IDENTIFY SCHOLARS "FROM EVERY QUARTER" TO SPONSOR FOR THIS SUMMER OPPORTUNITY. FINALLY, SUMMER SESSION SERVES AS THE UMBRELLA FOR THE OTHER OUTREACH PROGRAMS THAT WORK DIRECTLY WITH STUDENTS DURING THE SUMMER, BOTH ON-CAMPUS AND VIRTUALLY, MAKING SURE THAT THEY RECEIVE APPROPRIATE SUPPORT, HAVE ACCESS TO ACADEMY RESOURCES, AND SHARE AS FULLY AS POSSIBLE IN THE SUMMER COMMUNITY.
Expenses $3,964,898 · Grants $342,859 · Revenue $5,388,547
-
THE INSTITUTE FOR RECRUITMENT OF TEACHERS (IRT) ADDRESSES THE LACK OF DIVERSITY IN THE NATION'S TEACHING FACULTIES BY RECRUITING OUTSTANDING STUDENTS OF COLOR AND OTHER SCHOLARS COMMITTED TO DIVERSITY IN EDUCATION, PREPARING THEM FOR THE DEMANDS OF CAREERS IN EDUCATION, COUNSELING THEM THROUGH THE GRADUATE SCHOOL APPLICATION PROCESS, AND ADVOCATING FOR SUFFICIENT FUNDING FOR ADVANCED STUDY. SINCE 1990, THE IRT HAS BUILT A NATIONAL CONSORTIUM OF COLLEGES AND UNIVERSITIES THAT ARE EAGER TO ENROLL IRT STUDENTS TO DIVERSIFY THEIR GRADUATE STUDENT BODIES AND EXPAND THE PIPELINE OF EDUCATORS TO TEACH, COUNSEL, AND ADMINISTRATE IN AMERICAN SCHOOLS, COLLEGES, AND UNIVERSITIES. IRT URGES ITS STUDENTS TO EARN THEIR ADVANCED DEGREES AND TEACHING CREDENTIALS BEFORE THEY LAUNCH THEIR EDUCATIONAL CAREERS. ANNUALLY, THE IRT ENROLLS OVER 100 TALENTED STUDENTS WHO ARE MAJORING IN THE ARTS, HUMANITIES, SOCIAL SCIENCES, OR EDUCATION, TO ITS ASSOCIATE PROGRAM FOR COLLEGE SENIORS AND GRADUATES WHO WISH TO CONTINUE THEIR EDUCATIONAL STUDIES. SINCE ITS INCEPTION, NEARLY EVERY IRT APPLICANT HAS BEEN ADMITTED TO AT LEAST ONE GRADUATE SCHOOL WITHIN THE IRT CONSORTIUM OF 43 COLLEGES AND UNIVERSITIES; MOST HAVE BEEN ADMITTED TO FOUR OR MORE. APPROXIMATELY 50 PERCENT OF THESE STUDENTS HAVE RECEIVED PARTIAL TO FULL TUITION WAIVERS AND FULL FELLOWSHIP ASSISTANCESHIP FUNDING FOR UP TO SIX YEARS OF GRADUATE STUDY. TO DATE, THE IRT HAS WORKED WITH OVER 2,800 INTERNS AND ASSOCIATES. OF THAT NUMBER, OVER 1,000 PARTICIPANTS HAVE ALREADY RECEIVED TERMINAL MASTER'S DEGREES AND 418 HAVE EARNED PH.D.S. IRT ALUMNI SERVE IN THE ADMINISTRATIVE AND TEACHING RANKS AT OVER 130 COLLEGES AND UNIVERSITIES AS WELL AS NUMEROUS PUBLIC, PRIVATE AND PAROCHIAL SCHOOLS.IN THE COMING DECADES, A NUMBER OF THESE SCHOLARS WILL EMERGE AS EDUCATIONAL LEADERS.
Expenses $895,082 · Grants $31,200 · Revenue $115,600
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Raynard S KingtonRAYNARD S KINGTON
HEAD OF SCHOOL/TRUSTEE
- Total calculated
- $1,133,364
- From this org
- $858,643
- From related orgs
- $0
- Other
- $274,721
- Hours/week
- 60
Schedule J breakdown matched by us
- Base
- $683,643
- Bonus
- $0
- Other
- $175,000
- Deferred
- $108,990
- Nontaxable benefits
- $165,731
- Filer's total
- $1,133,364
-
Kirsten A GlantzKIRSTEN A GLANTZ
CHIEF INVESTMENT OFFICER
- Total calculated
- $1,048,556
- From this org
- $966,514
- From related orgs
- $0
- Other
- $82,042
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $432,709
- Bonus
- $533,805
- Other
- $0
- Deferred
- $35,240
- Nontaxable benefits
- $46,802
- Filer's total
- $1,048,556
-
Thomas P LockerbyTHOMAS P LOCKERBY
SECRETARY OF THE ACADEMY
- Total calculated
- $639,075
- From this org
- $560,838
- From related orgs
- $0
- Other
- $78,237
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $410,838
- Bonus
- $0
- Other
- $150,000
- Deferred
- $35,240
- Nontaxable benefits
- $42,997
- Filer's total
- $639,075
-
Xue YangXUE YANG
INVESTMENT ASSOCIATE
- Total calculated
- $461,954
- From this org
- $413,230
- From related orgs
- $0
- Other
- $48,724
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $280,836
- Bonus
- $132,394
- Other
- $0
- Deferred
- $35,240
- Nontaxable benefits
- $13,484
- Filer's total
- $461,954
-
Fernando R AlonsoFERNANDO R ALONSO
ASST HEAD OF SCHOOL/CFO
- Total calculated
- $432,675
- From this org
- $316,874
- From related orgs
- $0
- Other
- $115,801
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $316,874
- Bonus
- $0
- Other
- $0
- Deferred
- $35,240
- Nontaxable benefits
- $80,561
- Filer's total
- $432,675
-
Andrew JaffoniANDREW JAFFONI
ASSOC DIRECTOR OF INVESTMENTS
- Total calculated
- $354,247
- From this org
- $312,153
- From related orgs
- $0
- Other
- $42,094
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $215,153
- Bonus
- $97,000
- Other
- $0
- Deferred
- $27,875
- Nontaxable benefits
- $14,219
- Filer's total
- $354,247
-
Christian A ReuscheCHRISTIAN A REUSCHE
ASSOC DIRECTOR OF INVESTMENTS
- Total calculated
- $352,607
- From this org
- $307,117
- From related orgs
- $0
- Other
- $45,490
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $161,717
- Bonus
- $145,400
- Other
- $0
- Deferred
- $31,490
- Nontaxable benefits
- $14,000
- Filer's total
- $352,607
-
James F VentreJAMES F VENTRE
ASST HEAD OF SCHOOL ADMISSION
- Total calculated
- $342,284
- From this org
- $198,882
- From related orgs
- $0
- Other
- $143,402
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $198,882
- Bonus
- $0
- Other
- $0
- Deferred
- $22,713
- Nontaxable benefits
- $120,689
- Filer's total
- $342,284
-
Jeffrey C DominaJEFFREY C DOMINA
DEAN OF FACULTY
- Total calculated
- $321,491
- From this org
- $167,971
- From related orgs
- $0
- Other
- $153,520
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $167,971
- Bonus
- $0
- Other
- $0
- Deferred
- $17,740
- Nontaxable benefits
- $135,780
- Filer's total
- $321,491
-
Rajesh MundraRAJESH MUNDRA
INTERIM DEPUTY HEAD OF SCHOOL
- Total calculated
- $301,451
- From this org
- $208,934
- From related orgs
- $0
- Other
- $92,517
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $208,934
- Bonus
- $0
- Other
- $0
- Deferred
- $22,708
- Nontaxable benefits
- $69,809
- Filer's total
- $301,451
-
Jessica L HerbsterJESSICA L HERBSTER
GENERAL COUNSEL
- Total calculated
- $262,792
- From this org
- $235,736
- From related orgs
- $0
- Other
- $27,056
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $235,736
- Bonus
- $0
- Other
- $0
- Deferred
- $26,159
- Nontaxable benefits
- $897
- Filer's total
- $262,792
-
Leonard E CoreyLEONARD E COREY
ASSOCIATE COMPTROLLER
- Total calculated
- $239,997
- From this org
- $239,100
- From related orgs
- $0
- Other
- $897
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $239,100
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $897
- Filer's total
- $239,997
-
J Lawrence MuenchJ LAWRENCE MUENCH
DIRECTOR OF FACILITIES
- Total calculated
- $226,114
- From this org
- $200,920
- From related orgs
- $0
- Other
- $25,194
- Hours/week
- 55
Schedule J breakdown matched by us
- Base
- $200,920
- Bonus
- $0
- Other
- $0
- Deferred
- $21,910
- Nontaxable benefits
- $3,284
- Filer's total
- $226,114
-
Christopher S AugusteCHRISTOPHER S AUGUSTE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Gil CaffrayGIL CAFFRAY
TRUSTEE/TREASURER
- Total calculated
- $0
- Hours/week
- 3
-
Amy ChristodouloAMY CHRISTODOULO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
David J CorkinsDAVID J CORKINS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Amy C FallsAMY C FALLS
TRUSTEE/PRESIDENT
- Total calculated
- $0
- Hours/week
- 3
-
Keith T FlahertyKEITH T FLAHERTY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Andrew J Guff JrANDREW J GUFF JR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Stefan L KaluznySTEFAN L KALUZNY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Gary LeeGARY LEE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Tristin Batchelder MannionTRISTIN BATCHELDER MANNION
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Carlos MontemayorCARLOS MONTEMAYOR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Allison E PicottALLISON E PICOTT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Tamara Elliott RogersTAMARA ELLIOTT ROGERS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Michael SchmertzlerMICHAEL SCHMERTZLER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Yichen ZhangYICHEN ZHANG
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Eric L ZinterhoferERIC L ZINTERHOFER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Jennifer AmstutzJENNIFER AMSTUTZ
ALUMNI TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Anna DurhamANNA DURHAM
ALUMNI TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Christopher Jwb LeggettCHRISTOPHER JWB LEGGETT
ALUMNI TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Aisha Jorge MassengillAISHA JORGE MASSENGILL
ALUMNI TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
Loyce Lashawndra PaceLOYCE LASHAWNDRA PACE
ALUMNI TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
-
William M TongWILLIAM M TONG
ALUMNI TRUSTEE
- Total calculated
- $0
- Hours/week
- 3
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 · First-class or charter travel
- 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 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4b · Supplemental nonqualified retirement plan
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
- 9 · Followed the rebuttable-presumption procedure
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
The filer's explanations (Part III)
- SCHEDULE J, PART I, LINE 1A:
- FIRST CLASS OR CHARTER TRAVEL: THOMAS P. LOCKERBY FLEW FIRST-CLASS TRAVEL FOR A BUSINESS EVENT. THIS WAS A ONE-TIME CIRCUMSTANCE AND IS NOT TAXABLE INCOME TO HIM DUE TO DOCUMENTED BUSINESS PURPOSE. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: FERNANDO R. ALONSO, JEFFREY C. DOMINA, RAYNARD S. KINGTON, RAJESH MUNDRA, AND JAMES F. VENTRE RECEIVED HOUSING AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER. THE ACADEMY HAS VALUED HOUSING AT 5% OF THE APPRAISED VALUE OF THE HOME AS DETERMINED BY THE ASSESSOR'S OFFICE OF THE TOWN OF ANDOVER, MASSACHUSETTS, WHERE THE ACADEMY IS LOCATED. SUCH AMOUNTS ARE NOT TAXABLE COMPENSATION. PERSONAL SERVICES: IN ADDITION TO HOUSING THE HEAD OF SCHOOL, HIS RESIDENCE IS USED THROUGHOUT THE YEAR FOR NUMEROUS FUNDRAISING EVENTS, PARTIES, MEETINGS, AND OTHER ACADEMY-RELATED GATHERINGS. TIME SPENT BY A HOUSEKEEPER IN THE RESIDENCE IS IDENTIFIED AS EITHER CLEANING OF THE RESIDENCE, WHICH IS ASCRIBED AS INCOME TO THE HEAD OF SCHOOL, OR OF THE PUBLIC SPACE, WHICH IS NOT INCOME TO THE HEAD OF SCHOOL.
- SCHEDULE J, PART I, LINE 4B:
- IN 2020, RAYNARD S. KINGTON PARTICIPATED IN A DEFERRED COMPENSATION PLAN WITH THE ACADEMY. THIS PLAN PROVIDES THAT A YEARLY CONTRIBUTION WILL BE MADE TO RAYNARD S. KINGTON'S ACCOUNT OVER A 5-YEAR TERM, SUBJECT TO VESTING ON JUNE 2022, 2024, AND 2025. THE CURRENT YEAR DEFERRAL IS INCLUDED IN SCHEDULE J, PART II, COLUMN C.THE AMOUNT VESTED IS INCLUDED IN SCHEDULE J, PART II, COLUMN B(III). IN 2019, THOMAS P. LOCKERBY PARTICIPATED IN A DEFERRED COMPENSATION PLAN WITH THE ACADEMY. THIS PLAN PROVIDES THAT A YEARLY CONTRIBUTION WILL BE MADE TO THOMAS P. LOCKERBY'S ACCOUNT OVER A THREE YEAR TERM, VESTING IN JUNE 2022. THE AMOUNT VESTED IN 2022 IS INCLUDED IN SCHEDULE J, PART II, COLUMN B(III).
- SCHEDULE J, PART I, LINE 7:
- KIRSTEN A. GLANTZ, XUE YANG, ANDREW JAFFONI, AND CHRISTIAN A. REUSCHE RECEIVED NON-FIXED PAYMENTS APPROVED BY THE COMPENSATION COMMITTEE AND THE AMOUNT OF SUCH BONUSES ARE SHOWN ON SCHEDULE J, PART II, COLUMN (B) (II).
- SCHEDULE J, PART I, LINES 8 AND 9:
- RAYNARD S. KINGTON, NEW HEAD OF SCHOOL, HAS AN INITIAL EMPLOYMENT CONTRACT THAT DESCRIBES HIS INITIAL COMPENSATION AND BENEFITS.
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 ANDOVER
$463,275
SEE PART IV
-
CITY OF METHUEN
$26,338
SEE PART IV
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
CHARITABLE TRUSTS (32)
TRUST · FUNDRAISING · MA · controlled entity
Directly controlled by NA
-
SOF-VIII INVESTOR IV
C CORP · INVESTING · UK · 100% owned · share of income $113,213 · share of assets $330,737 · controlled entity
Directly controlled by NA
-
POOLED INCOME FUND (2)
TRUST · FUNDRAISING · MA · controlled entity
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 8 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202421319349302902
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