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Nonprofiteer
← TRUSTEES OF DEERFIELD ACADEMY

Form 990 for tax year 2022

Filed by TRUSTEES OF DEERFIELD ACADEMY.

Totals

Total revenue
$75,146,409
Total expenses
$87,844,707
Contributions and grants received
$16,910,913
Grants paid
$14,796,078
Program service revenue
$45,093,644
Investment income
$12,392,591
Other revenue
$749,261
Total assets, end of year
$1,216,276,384
Total liabilities, end of year
$95,424,719
Net assets or fund balances, end of year
$1,120,851,665
Program services expenses (Part IX)
$67,968,507
Management and general expenses
$13,606,393
Fundraising expenses
$6,269,807
Program service expenses (Part III)
$67,968,507

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.

  • 1f · All other contributions, gifts and grants

    $16,910,913

  • 1g · Noncash contributions included above

    $2,804,906

  • 2a · Program service revenue: TUITION AND FEES

    total $42,330,094 · related or exempt $42,330,094

  • 2b · Program service revenue: SUMMER EDUCATION

    total $2,182,103 · related or exempt $2,182,103

  • 2c · Program service revenue: AUXILIARY PROGRAMS

    total $581,447 · related or exempt $581,447

  • 3 · Investment income

    total $4,377,674 · unrelated business $1,104,885 · excluded $3,272,789

  • 7a · Gross sales of assets other than inventory

    securities $275,713,696

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

    securities $267,698,779

  • 7c · Gain or loss

    securities $8,014,917

  • 7d · Net gain or loss

    total $8,014,917 · excluded $8,014,917

  • 10a · Gross sales of inventory

    $1,060,529

  • 10b · Cost of goods sold

    $536,694

  • 10c · Net income from sales of inventory

    total $523,835 · related or exempt $523,835

  • 11a · Other revenue: OTHER REVENUE

    total $184,564 · excluded $184,564

  • 11b · Other revenue: DINING HALL REVENUE

    total $28,286 · unrelated business $16,059 · excluded $12,227

  • 11c · Other revenue: SPORTS CAMPS

    total $12,576 · unrelated business $12,576

  • 11e · Other revenue, total

    $225,426

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $422,320 · program services $422,320

  • 2 · Grants to domestic individuals

    total $14,373,758 · program services $14,373,758

  • 5 · Compensation of officers, directors and key employees

    total $1,998,123 · program services $307,502 · management and general $1,361,867 · fundraising $328,754

  • 6 · Compensation of disqualified persons

    total $170,281 · program services $32,954 · management and general $33,166 · fundraising $104,161

  • 7 · Other salaries and wages

    total $28,391,906 · program services $21,035,032 · management and general $4,489,126 · fundraising $2,867,748

  • 8 · Pension plan contributions

    total $3,189,523 · program services $2,257,170 · management and general $583,537 · fundraising $348,816

  • 9 · Other employee benefits

    total $5,099,831 · program services $3,734,929 · management and general $851,884 · fundraising $513,018

  • 10 · Payroll taxes

    total $2,287,612 · program services $1,643,717 · management and general $400,277 · fundraising $243,618

  • 11b · Fees: legal

    total $306,157 · management and general $306,157

  • 11c · Fees: accounting

    total $81,868 · management and general $81,868

  • 11e · Fees: professional fundraising services

    total $42,062 · fundraising $42,062

  • 11f · Fees: investment management

    total $528,056 · management and general $528,056

  • 11g · Fees: other

    total $1,285,590 · program services $635,803 · management and general $280,539 · fundraising $369,248

  • 12 · Advertising and promotion

    total $11,060 · program services $4,367 · management and general $2,756 · fundraising $3,937

  • 13 · Office expenses

    total $1,024,123 · program services $499,736 · management and general $404,917 · fundraising $119,470

  • 14 · Information technology

    total $1,471,936 · program services $941,436 · management and general $420,566 · fundraising $109,934

  • 16 · Occupancy

    total $4,320,860 · program services $4,073,275 · management and general $206,105 · fundraising $41,480

  • 17 · Travel

    total $2,423,373 · program services $2,001,415 · management and general $123,665 · fundraising $298,293

  • 19 · Conferences, conventions and meetings

    total $629,467 · program services $470,939 · management and general $133,953 · fundraising $24,575

  • 20 · Interest

    total $1,862,014 · program services $1,862,014

  • 22 · Depreciation, depletion and amortization

    total $8,781,237 · program services $8,278,072 · management and general $418,865 · fundraising $84,300

  • 23 · Insurance

    total $1,022,558 · management and general $1,022,558

  • 24a · Other expenses: FOOD

    total $1,856,611 · program services $1,717,032 · management and general $29,372 · fundraising $110,207

  • 24b · Other expenses: EQUIPMENT

    total $1,387,891 · program services $997,734 · management and general $259,335 · fundraising $130,822

  • 24c · Other expenses: PUBLICATIONS

    total $430,199 · program services $64,534 · management and general $150,568 · fundraising $215,097

  • 24d · Other expenses: TEXTBOOKS

    total $392,785 · program services $390,313 · management and general $2,075 · fundraising $397

  • 24e · All other expenses

    total $4,053,506 · program services $2,224,455 · management and general $1,515,181 · fundraising $313,870

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,395 · end of year $12,050

  • 2 · Savings and temporary cash investments

    beginning of year $33,471,586 · end of year $15,348,294

  • 3 · Pledges and grants receivable

    beginning of year $20,686,918 · end of year $16,555,247

  • 4 · Accounts receivable

    beginning of year $121,060 · end of year $258,077

  • 8 · Inventories for sale or use

    beginning of year $391,381 · end of year $471,771

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,524,347 · end of year $1,191,047

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

    $389,523,150

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

    $101,480,409

  • 10c · Land, buildings and equipment, net

    beginning of year $282,581,027 · end of year $288,042,741

  • 11 · Investments: publicly traded securities

    beginning of year $124,761,729 · end of year $58,169,330

  • 12 · Investments: other securities

    beginning of year $705,109,022 · end of year $833,553,002

  • 15 · Other assets

    beginning of year $3,300,694 · end of year $2,674,825

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,882,737 · end of year $7,397,618

  • 19 · Deferred revenue

    beginning of year $3,417,521 · end of year $3,693,901

  • 20 · Tax-exempt bond liabilities

    beginning of year $61,460,000 · end of year $56,885,000

  • 23 · Secured mortgages and notes payable

    beginning of year $25,000,000 · end of year $25,000,000

  • 25 · Other liabilities

    beginning of year $2,088,624 · end of year $2,448,200

  • 27 · Net assets without donor restrictions

    beginning of year $479,274,190 · end of year $503,958,492

  • 28 · Net assets with donor restrictions

    beginning of year $591,838,087 · end of year $616,893,173

Mission and programs · 2022

Mission

DEERFIELD ACADEMY IS AN INDEPENDENT SECONDARY SCHOOL COMMITTED TO HIGH STANDARDS OF SCHOLARSHIP, CITIZENSHIP, AND PERSONAL RESPONSIBILITY. THROUGH A RIGOROUS LIBERAL ARTS CURRICULUM, EXTENSIVE CO-CURRICULAR PROGRAM, AND SUPPORTIVE RESIDENTIAL ENVIRONMENT, DEERFIELD ENCOURAGES EACH STUDENT TO DEVELOP AN INQUISITIVE AND CREATIVE MIND, SOUND BODY, AND STRONG MORAL CHARACTER.

  • DURING THE 2022-2023 ACADEMIC YEAR, 581 BOARDING AND 74 DAY STUDENTS WERE ENROLLED AT DEERFIELD ACADEMY. OUR PROGRAMS OF SECONDARY EDUCATION (GRADES 9-12) INCLUDE THE DEVELOPMENT OF OUR STUDENTS' ACADEMIC AND SCHOLARSHIP SKILLS, CITIZENSHIP AND CHARACTER. COMMUNITY SERVICE, ATHLETIC PROGRAMS AND EXTRA-CURRICULAR ACTIVITIES ARE INTEGRATED AS A PART OF THE SCHOOL'S LONGSTANDING INTELLECTUAL AND MORAL TRADITION.

    Expenses $67,968,507 · Grants $14,796,078 · Revenue $45,617,479

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Govi Leila

    PRESIDENT

    Total calculated
    $0
    Hours/week
    8

  • Fleming Sr Gregory

    VICE PRESIDENT/TREASURER

    Total calculated
    $0
    Hours/week
    5

  • McInerney Mark

    SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • Anderson Gary

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Brennan Seth

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Chen Yilun

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Clark Benjamin

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Coleman Lindsey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Dowling III Joseph

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Greenhill Joshua

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Halpin Christopher

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Harsch Amy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Idehen Jr Francis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Johnson Marc

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Lasher Robert

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Lavely Vanessa

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Leist Elizabeth

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Lipman Gustave

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mead Jr Dana

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Newton Diana

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Parker C Allen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Quazzo Stephen

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Roberts Janice

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Simonds Carter

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Tang Dana

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Ullyot Theodore

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Weymouth Elizabeth

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Austin John

    HEAD OF SCHOOL/TRUSTEE

    Total calculated
    $1,100,133
    From this org
    $854,795
    From related orgs
    $0
    Other
    $245,338
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $668,296
    Bonus
    $0
    Other
    $186,499
    Deferred
    $158,616
    Nontaxable benefits
    $86,722
    Filer's total
    $1,100,133

  • Sheehy Matthew

    CFO

    Total calculated
    $426,575
    From this org
    $332,611
    From related orgs
    $0
    Other
    $93,964
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $332,611
    Bonus
    $0
    Other
    $0
    Deferred
    $42,032
    Nontaxable benefits
    $51,932
    Filer's total
    $426,575

  • Romberger Ann

    CHIEF ADVANCEMENT OFFICER THOUGH 11/6/2022

    Total calculated
    $415,415
    From this org
    $351,208
    From related orgs
    $0
    Other
    $64,207
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $351,208
    Bonus
    $0
    Other
    $0
    Deferred
    $44,365
    Nontaxable benefits
    $19,842
    Filer's total
    $415,415

  • Taylor John

    DEAN OF FACULTY THROUGH 6/30/2022

    Total calculated
    $348,954
    From this org
    $270,736
    From related orgs
    $0
    Other
    $78,218
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $250,736
    Bonus
    $0
    Other
    $20,000
    Deferred
    $35,506
    Nontaxable benefits
    $42,712
    Filer's total
    $348,954

  • Hills Ivory

    DEAN OF FACULTY STARTING 7/1/2022

    Total calculated
    $287,907
    From this org
    $202,159
    From related orgs
    $0
    Other
    $85,748
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $182,159
    Bonus
    $0
    Other
    $20,000
    Deferred
    $25,922
    Nontaxable benefits
    $59,826
    Filer's total
    $287,907

  • Shelburne Erika

    DIRECTOR OF INTL. ADVANCEM

    Total calculated
    $253,524
    From this org
    $215,499
    From related orgs
    $0
    Other
    $38,025
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $198,999
    Bonus
    $0
    Other
    $16,500
    Deferred
    $27,502
    Nontaxable benefits
    $10,523
    Filer's total
    $253,524

  • Moore Rachel

    DIRECTOR OF LEADERSHIP GIF

    Total calculated
    $248,597
    From this org
    $204,096
    From related orgs
    $0
    Other
    $44,501
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $184,096
    Bonus
    $0
    Other
    $20,000
    Deferred
    $26,226
    Nontaxable benefits
    $18,275
    Filer's total
    $248,597

  • Davis Charles

    DEAN OF ADMISSION

    Total calculated
    $277,995
    From this org
    $194,308
    From related orgs
    $0
    Other
    $83,687
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $185,308
    Bonus
    $0
    Other
    $9,000
    Deferred
    $25,025
    Nontaxable benefits
    $58,662
    Filer's total
    $277,995

  • Benson Bryant

    DIRECTOR OF MEDICAL SERVIC

    Total calculated
    $284,615
    From this org
    $192,658
    From related orgs
    $0
    Other
    $91,957
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $189,058
    Bonus
    $0
    Other
    $3,600
    Deferred
    $25,556
    Nontaxable benefits
    $66,401
    Filer's total
    $284,615

  • Creagh Amie

    ASSOCIATE HOS FOR STUDENT LIFE

    Total calculated
    $268,259
    From this org
    $192,053
    From related orgs
    $0
    Other
    $76,206
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $183,053
    Bonus
    $0
    Other
    $9,000
    Deferred
    $24,149
    Nontaxable benefits
    $52,057
    Filer's total
    $268,259

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 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
FIRST CLASS TRAVEL IS ALLOWED FOR INTERNATIONAL TRIPS ONLY. CERTAIN PERSONAL SERVICES ARE PROVIDED TO THE HEAD OF SCHOOL AND SPOUSE, TO ASSIST THEM IN FULFILLING THEIR RESPONSIBILITIES AND DUTIES TO THE ACADEMY. THESE POLICIES ARE IN WRITING. EMPLOYEES WHO ARE PROVIDED HOUSING ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. THESE HOMES ARE AVAILABLE FOR HOUSING VISITORS AND FOR OTHER USES DURING SCHOOL SPONSORED EVENTS AND ARE INCLUDED AS NONTAXABLE BENEFITS.
PART I, LINE 4B
JOHN AUSTIN PARTICIPATES IN A 457(F) PLAN.

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

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • DEERFIELD CARLYLE HOLDING LLC

    UNFUNDED REAL ESTATE HOLDING COMPANY · DE · income $0 · assets $0

    Directly controlled by TRUSTEES OF DEERFIELD ACADEMY

Provenance

Return type
form_990
Tax year
2022
Filed
11 April 2024
IRS schema version
2022v5.0
Source object
202441109349301854

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