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Nonprofiteer
← PROCTOR ACADEMY

Form 990 for tax year 2023

Filed by PROCTOR ACADEMY.

Totals

Total revenue
$38,812,504
Total expenses
$35,267,717
Contributions and grants received
$8,438,967
Grants paid
$6,647,007
Program service revenue
$28,665,509
Investment income
$1,484,723
Other revenue
$223,305
Total assets, end of year
$97,647,779
Total liabilities, end of year
$24,035,335
Net assets or fund balances, end of year
$73,612,444
Program services expenses (Part IX)
$27,294,517
Management and general expenses
$5,850,244
Fundraising expenses
$2,122,956
Program service expenses (Part III)
$27,294,517

Program services were 77.4% 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.

  • 1c · Fundraising events

    $28,083

  • 1f · All other contributions, gifts and grants

    $8,410,884

  • 1g · Noncash contributions included above

    $1,195,595

  • 2a · Program service revenue: TUITION & FEES

    total $26,929,362 · related or exempt $26,929,362

  • 2b · Program service revenue: PROGRAM SUPPORT REVENUE

    total $891,981 · related or exempt $891,981

  • 2c · Program service revenue: SUMMER PROGRAM REVENUE

    total $844,166 · related or exempt $844,166

  • 3 · Investment income

    total $986,458 · excluded $986,458

  • 6a · Gross rents

    real property $37,704

  • 6b · Less rental expenses

    real property $16,480

  • 6c · Rental income or loss

    real property $21,224

  • 6d · Net rental income or loss

    total $21,224 · excluded $21,224

  • 7a · Gross sales of assets other than inventory

    securities $8,539,299 · other assets $28,000

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

    securities $8,037,156 · other assets $31,878

  • 7c · Gain or loss

    securities $502,143 · other assets -$3,878

  • 7d · Net gain or loss

    total $498,265 · excluded $498,265

  • 8a · Fundraising events: gross income

    $14,254

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

    $28,083

  • 8b · Fundraising events: direct expenses

    $22,112

  • 8c · Net income from fundraising events

    total -$7,858 · excluded -$7,858

  • 10a · Gross sales of inventory

    $130,473

  • 10b · Cost of goods sold

    $222,661

  • 10c · Net income from sales of inventory

    total -$92,188 · excluded -$92,188

  • 11a · Other revenue: SKI HILL INCOME

    total $257,192 · unrelated business $257,192

  • 11b · Other revenue: HOCKEY RINK INCOME

    total $44,935 · unrelated business $44,935

  • 11e · Other revenue, total

    $302,127

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $6,647,007 · program services $6,647,007

  • 5 · Compensation of officers, directors and key employees

    total $490,641 · management and general $490,641

  • 7 · Other salaries and wages

    total $12,234,252 · program services $9,731,132 · management and general $1,183,077 · fundraising $1,320,043

  • 8 · Pension plan contributions

    total $734,156 · program services $563,704 · management and general $93,985 · fundraising $76,467

  • 9 · Other employee benefits

    total $1,898,772 · program services $1,497,288 · management and general $198,374 · fundraising $203,110

  • 10 · Payroll taxes

    total $878,951 · program services $674,880 · management and general $112,522 · fundraising $91,549

  • 11a · Fees: management

    total $14,809 · program services $14,809

  • 11b · Fees: legal

    total $343,696 · management and general $343,696

  • 11c · Fees: accounting

    total $74,458 · management and general $74,458

  • 11f · Fees: investment management

    total $165,819 · management and general $165,819

  • 11g · Fees: other

    total $66,953 · program services $511 · management and general $66,442

  • 12 · Advertising and promotion

    total $62,970 · program services $48,178 · management and general $7,281 · fundraising $7,511

  • 13 · Office expenses

    total $384,172 · program services $293,927 · management and general $44,420 · fundraising $45,825

  • 14 · Information technology

    total $307,503 · program services $235,268 · management and general $35,555 · fundraising $36,680

  • 16 · Occupancy

    total $2,443,330 · program services $2,304,186 · management and general $97,154 · fundraising $41,990

  • 17 · Travel

    total $151,203 · program services $66,783 · management and general $52,466 · fundraising $31,954

  • 20 · Interest

    total $494,873 · program services $460,232 · management and general $24,744 · fundraising $9,897

  • 22 · Depreciation, depletion and amortization

    total $3,150,052 · program services $2,929,548 · management and general $157,503 · fundraising $63,001

  • 23 · Insurance

    total $679,613 · program services $607,851 · management and general $44,804 · fundraising $26,958

  • 24a · Other expenses: INSTRUCTIONAL

    total $1,557,890 · management and general $1,557,890

  • 24b · Other expenses: STUDENT ACTIVITIES

    total $915,158 · management and general $915,158

  • 24c · Other expenses: FOOD SERVICE EXPENSE

    total $489,215 · program services $374,294 · management and general $56,566 · fundraising $58,355

  • 24d · Other expenses: EVENTS EXPENSES

    total $363,996 · program services $295,408 · management and general $44,644 · fundraising $23,944

  • 24e · All other expenses

    total $718,228 · program services $549,511 · management and general $83,045 · fundraising $85,672

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,088,577 · end of year $8,659,371

  • 3 · Pledges and grants receivable

    beginning of year $933,061 · end of year $1,611,965

  • 4 · Accounts receivable

    beginning of year $1,657,294 · end of year $523,856

  • 8 · Inventories for sale or use

    beginning of year $275,492 · end of year $260,715

  • 9 · Prepaid expenses and deferred charges

    beginning of year $644,143 · end of year $782,285

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

    $91,325,569

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

    $43,507,066

  • 10c · Land, buildings and equipment, net

    beginning of year $49,688,700 · end of year $47,818,503

  • 11 · Investments: publicly traded securities

    beginning of year $32,837,534 · end of year $36,512,074

  • 12 · Investments: other securities

    beginning of year $844,837 · end of year $813,987

  • 15 · Other assets

    beginning of year $703,474 · end of year $665,023

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,657,954 · end of year $1,569,296

  • 19 · Deferred revenue

    beginning of year $5,172,733 · end of year $5,312,558

  • 20 · Tax-exempt bond liabilities

    beginning of year $17,467,293 · end of year $16,867,133

  • 25 · Other liabilities

    beginning of year $308,859 · end of year $286,348

  • 27 · Net assets without donor restrictions

    beginning of year $43,571,980 · end of year $44,951,108

  • 28 · Net assets with donor restrictions

    beginning of year $24,494,293 · end of year $28,661,336

Mission and programs · 2023

Mission

TAKING INSPIRATION FROM OUR MOTTO, PROCTOR ACADEMY CREATES A DIVERSE LEARNING AND LIVING COMMUNITY: ONE THAT VALUES THE INDIVIDUAL AND RECOGNIZES THE POTENTIAL OF EACH MEMBER TO STRETCH BEYOND WHAT HAD BEEN THOUGHT POSSIBLE. BALANCING ACADEMIC RIGOR, STRUCTURE, AND SUPPORT WITH THE FREEDOM FOR STUDENTS TO EXPLORE, CREATE AND DEFINE THEMSELVES, PROCTOR ENCOURAGES STUDENTS TO ACHIEVE THEIR OPTIMAL GROWTH. A DEEP COMMITMENT TO A LEARNING SKILLS PROGRAM AND A STRONG EMPHASIS ON EXPERIENTIAL LEARNING IS INTERWOVEN THROUGHOUT PROCTOR'S ACADEMIC, ATHLETIC, ARTISTIC, AND ENVIRONMENTALLY CONSCIOUS PROGRAMS BOTH ON AND OFF CAMPUS. PROCTOR STUDENTS GRADUATE UNDERSTANDING THE VALUES OF HONESTY, COMPASSION, RESPECT, AND RESONSIBILTY, PROCEEDING WITH CONFIDENCE AND WITH STRATEGIES TO BECOME LIFE-LONG LEARNERS AND THOUGHTFUL CONTRIBUTORS TO THEIR COMMUNITIES.

  • EDUCATING 378 HIGH SCHOOL STUDENTS TAUGHT BY 90 FACULTY AND SPECIALISTS IN 180 SCHOOL DAYS AND IN 3 TRIMESTERS.

    Expenses $27,294,517 · Grants $6,647,007 · Revenue $28,665,509

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Alexandra Shor

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Amanda Tosch

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Andy Stevenson

    TRSUTEE

    Total calculated
    $0
    Hours/week
    1

  • Armins Rusis

    CO VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Becca O'Connor

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Chris Ray

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Doug Robie

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Hadley Scully

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jon Rosenshine

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Karen Bonewald

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Kate Krehbiel

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kim Guerster

    CLERK

    Total calculated
    $0
    Hours/week
    1

  • Kurt Croft

    CHIEF RESOURCE OFFICER

    Total calculated
    $88,375
    From this org
    $76,213
    From related orgs
    $0
    Other
    $12,162
    Hours/week
    40

  • Laura Barkan

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Lynnie Lewis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Mark Johnson

    CO VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Mary Steward

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Max Cobb

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Melanie Sanford

    TRUSEE

    Total calculated
    $0
    Hours/week
    1

  • Pedro Reynoso

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rebecca Leavitt

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Rena Clark

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Steve Wilkins

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Tim Miner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Travis Warren

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Brian Thomas

    HEAD OF SCHOOL

    Total calculated
    $334,492
    From this org
    $267,164
    From related orgs
    $0
    Other
    $67,328
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $267,164
    Bonus
    $0
    Other
    $0
    Deferred
    $11,275
    Nontaxable benefits
    $56,053
    Filer's total
    $334,492

  • Christopher Bartlett

    DIRECTOR OF ENROLLMENT & M

    Total calculated
    $188,884
    From this org
    $141,170
    From related orgs
    $0
    Other
    $47,714
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,170
    Bonus
    $0
    Other
    $0
    Deferred
    $6,260
    Nontaxable benefits
    $41,454
    Filer's total
    $188,884

  • Karin Clough

    ASSISTANT HEAD OF SCHOOL

    Total calculated
    $180,206
    From this org
    $139,162
    From related orgs
    $0
    Other
    $41,044
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,162
    Bonus
    $0
    Other
    $0
    Deferred
    $5,840
    Nontaxable benefits
    $35,204
    Filer's total
    $180,206

  • Keith Barrett

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $245,452
    From this org
    $194,031
    From related orgs
    $0
    Other
    $51,421
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,031
    Bonus
    $0
    Other
    $0
    Deferred
    $8,354
    Nontaxable benefits
    $43,067
    Filer's total
    $245,452

  • Scott Allenby

    CHIEF STRATEGY AND COMMUNICATIONS OFFICER

    Total calculated
    $154,630
    From this org
    $108,454
    From related orgs
    $0
    Other
    $46,176
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $108,454
    Bonus
    $0
    Other
    $0
    Deferred
    $5,003
    Nontaxable benefits
    $41,173
    Filer's total
    $154,630

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 · Housing allowance or residence for personal use
  • 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

Answered no

  • 1b · Written policy on the line-1a expenses
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
ANNUALLY, THE CHAIR OF THE FINANCE COMMITTEE, PRESIDENT OF THE BOARD AND THE EXECUTIVE COMMITTEE (ACTING IN ITS CAPACITY AS THE COMPENSATION COMMITTEE) USE THE INDEPENDENT SCHOOL ASSOCIATION OF NORTHERN NEW ENGLAND (ISANNE) PAY RATES, INFORMATION FROM FORM 990'S AND AN INTERNALLY PREPARED COMPENSATION STUDY TO DETERMINE AND APPROVE THE HEAD OF SCHOOL'S COMPENSATION. AS A CONDITION OF EMPLOYMENT AS HEAD OF SCHOOL AND IN ORDER TO FULFILL RESPONSIBILITIES AS HEAD OF SCHOOL, AND FOR THE CONVENIENCE OF THE SCHOOL THE HEAD OF SCHOOL WILL BE PROVIDED WITH HOUSING ON THE MAIN CAMPUS OF THE SCHOOL, WHICH INCLUDES PAYMENT OF ALL UTILITIES.

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
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202501359349304635

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