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Nonprofiteer
← ST JOHNSBURY ACADEMY

Form 990 for tax year 2023

Filed by ST JOHNSBURY ACADEMY.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2023 , filed 17 December 2025. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Both are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$38,416,850
Total expenses
$36,535,981
Contributions and grants received
$2,449,791
Grants paid
$2,983,713
Program service revenue
$32,795,225
Investment income
$2,696,001
Other revenue
$475,833
Total assets, end of year
$76,612,446
Total liabilities, end of year
$12,817,412
Net assets or fund balances, end of year
$63,795,034
Program services expenses (Part IX)
$31,136,821
Management and general expenses
$4,489,549
Fundraising expenses
$909,611
Program service expenses (Part III)
$31,136,821

Program services were 85.2% 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

    $2,449,791

  • 1g · Noncash contributions included above

    $158,308

  • 2a · Program service revenue: Day School Tuition

    total $20,940,303 · related or exempt $20,940,303

  • 2b · Program service revenue: Res School Tuition

    total $8,755,954 · related or exempt $8,755,954

  • 2c · Program service revenue: Other Educ. Prog.

    total $1,878,058 · related or exempt $1,878,058

  • 2d · Program service revenue: Miscellaneous Income

    total $674,012 · related or exempt $61,509 · excluded $612,503

  • 2e · Program service revenue: Field House & recreation Activity

    total $546,898 · related or exempt $546,898

  • 3 · Investment income

    total $1,365,175 · unrelated business $71,006 · excluded $1,294,169

  • 5 · Royalties

    total $333,333 · excluded $333,333

  • 7a · Gross sales of assets other than inventory

    securities $12,752,272 · other assets $600,000

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

    securities $11,853,172 · other assets $168,274

  • 7c · Gain or loss

    securities $899,100 · other assets $431,726

  • 7d · Net gain or loss

    total $1,330,826 · excluded $1,330,826

  • 11a · Other revenue: Insurance Proceeds

    total $142,500 · excluded $142,500

  • 11e · Other revenue, total

    $142,500

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $2,983,713 · program services $2,983,713

  • 5 · Compensation of officers, directors and key employees

    total $702,177 · management and general $582,364 · fundraising $119,813

  • 7 · Other salaries and wages

    total $15,426,361 · program services $13,783,558 · management and general $1,133,437 · fundraising $509,366

  • 8 · Pension plan contributions

    total $701,091 · program services $657,314 · management and general $24,228 · fundraising $19,549

  • 9 · Other employee benefits

    total $3,768,624 · program services $3,103,559 · management and general $592,553 · fundraising $72,512

  • 10 · Payroll taxes

    total $1,151,678 · program services $1,088,516 · management and general $35,116 · fundraising $28,046

  • 11b · Fees: legal

    total $245,250 · program services $2,138 · management and general $243,112

  • 11c · Fees: accounting

    total $49,880 · management and general $49,880

  • 11d · Fees: lobbying

    total $80,280 · management and general $80,280

  • 11f · Fees: investment management

    total $111,266 · management and general $111,266

  • 11g · Fees: other

    total $1,130,837 · program services $170,227 · management and general $924,300 · fundraising $36,310

  • 12 · Advertising and promotion

    total $141,968 · program services $55,984 · management and general $85,984

  • 13 · Office expenses

    total $277,030 · program services $121,416 · management and general $96,678 · fundraising $58,936

  • 16 · Occupancy

    total $2,342,367 · program services $2,297,117 · management and general $38,646 · fundraising $6,604

  • 17 · Travel

    total $477,753 · program services $324,905 · management and general $123,967 · fundraising $28,881

  • 20 · Interest

    total $213,355 · program services $213,355

  • 22 · Depreciation, depletion and amortization

    total $2,113,759 · program services $2,113,759

  • 23 · Insurance

    total $419,431 · program services $419,431

  • 24a · Other expenses: Food Services

    total $2,724,873 · program services $2,700,610 · management and general $208 · fundraising $24,055

  • 24b · Other expenses: Student Activities and

    total $1,046,892 · program services $1,018,003 · management and general $28,889

  • 24c · Other expenses: Miscellaneous

    total $414,069 · program services $83,216 · management and general $325,314 · fundraising $5,539

  • 24d · Other expenses: UBI Tax

    total $13,327 · management and general $13,327

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $369,300 · end of year $791,663

  • 2 · Savings and temporary cash investments

    beginning of year $3,977,256 · end of year $4,778,267

  • 3 · Pledges and grants receivable

    beginning of year $88,632 · end of year $679,717

  • 4 · Accounts receivable

    beginning of year $1,497,383 · end of year $1,118,575

  • 7 · Other notes and loans receivable

    beginning of year $1,019,629 · end of year $1,037,030

  • 8 · Inventories for sale or use

    beginning of year $58,977 · end of year $84,875

  • 9 · Prepaid expenses and deferred charges

    beginning of year $581,204 · end of year $267,385

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

    $65,595,590

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

    $32,517,840

  • 10c · Land, buildings and equipment, net

    beginning of year $34,202,982 · end of year $33,077,750

  • 11 · Investments: publicly traded securities

    beginning of year $28,840,974 · end of year $31,536,191

  • 12 · Investments: other securities

    beginning of year $2,821,061 · end of year $2,937,608

  • 14 · Intangible assets

    beginning of year $296,071 · end of year $168,926

  • 15 · Other assets

    beginning of year $90,591 · end of year $134,459

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,010,304 · end of year $670,802

  • 19 · Deferred revenue

    beginning of year $2,754,609 · end of year $2,661,486

  • 20 · Tax-exempt bond liabilities

    beginning of year $7,806,704 · end of year $7,359,534

  • 25 · Other liabilities

    beginning of year $2,121,515 · end of year $2,125,590

  • 27 · Net assets without donor restrictions

    beginning of year $45,782,948 · end of year $47,595,742

  • 28 · Net assets with donor restrictions

    beginning of year $14,367,980 · end of year $16,199,292

Mission and programs · 2023

Mission

This is the mission of St. Johnsbury Academy, a diverse, comprehensive, and independent educational community grounded by our traditions, our deep optimism regarding young people, and our commitment to academic excellence: to teach good character by modeling and fostering compassion, respect, responsibility, and integrity. To foster a love for learning by challenging individuals to pursue knowledge, creativity, and intellectual self-reliance. To encourage each individual to understand his or her relationships, rights, and responsibilities within a community that is itself part of the larger world.

Activities or mission (Part I)

Founded in 1842, St. Johnsbury Academy is a comprehensive independent private high school widely recognized as an institution that fosters character, academic excellence, and civic responsibility in its students.

  • St. Johnsbury Academy offers a comprehensive high school program serving students in grades 9-12 and a postgraduate year. St. Johnsbury Academy offers a rigorous, wide-ranging, standards-based curriculum designed to meet the needs and interests of a wide range of abilities, career goals, and interests. St. Johnsbury Academy served 920 students (including boarders) in the day school program which includes standard high school curriculum, special education, fine arts, technical education and athletic programs. The school day consists of a five block daily schedule with 70 minute courses. Scholarships are provided to students from around the world including throughout the United States and North America, Central America and the Caribbean, Russia and the Newly Independent States, East Asia, Europe, and South America. St. Johnsbury Academy offers a boarding program on our campus to 180 students from across the country and the world, creating a global community. The Academy has ten dormitories on the campus, six for boys and four for girls. Different in size and personality, each dorm houses faculty advisors, their families, and students. The Academy has a comprehensive resident life curriculum that complements our day school programs. Students are able to take advantage of weekend campus activities as well as travel opportunities throughout the semester. Our boarding program also includes an English as a second language program for students who require additional instruction as well as learning support programs for resident students. Expenses presented on this schedule do not reflect an inclusion of general and administrative expenses that are necessary for the school's day to day operations.

    Expenses $30,457,346 · Grants $2,983,713 · Revenue $32,231,713

  • St. Johnsbury Academy offers a summer advanced placement institute for secondary teachers. The course covers the AP exam including test development reading, new directions within the AP curriculum, developing successful AP assignments and collaborative teaching approaches as well as workshops for experienced AP teachers. St. Johnsbury Academy served nearly 350 teachers during the past year. Expenses presented on this schedule do not reflect an inclusion of general and administrative expenses that are necessary for the school's day to day operations.

    Expenses $679,475 · Revenue $563,512

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

Listed in Part VII

  • Cathy Judd-Stein

    President

    Total calculated
    $0
    Hours/week
    5

  • Robert M Fairbanks

    Vice President

    Total calculated
    $0
    Hours/week
    3

  • Peter F Crosby

    Treasurer

    Total calculated
    $0
    Hours/week
    3

  • Peter F Hammer

    Secretary

    Total calculated
    $0
    Hours/week
    3

  • Noble Allen

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Bruce E Buxton

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Martha D Cavanaugh

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Timothy A Clouatre

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Craig S Douglas

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jenis Ellingwood

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Frank A Empsall

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Mrs Nancy U Goodrich

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Dr Joshua Kantrowitz

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jesse C Laflamme

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Sanghyun Lee

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • James H Murphy

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Dr Deane E Rankin

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Dr Kathy A Silloway

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Paul C Simpson

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Edward R Zuccaro

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Erin Mayo

    Past Trustee

    Total calculated
    $0
    Hours/week
    1

  • Sharon L Howell

    Headmaster

    Total calculated
    $508,006
    From this org
    $430,764
    From related orgs
    $0
    Other
    $77,242
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $309,122
    Bonus
    $85,000
    Other
    $36,642
    Deferred
    $49,899
    Nontaxable benefits
    $27,343
    Filer's total
    $508,006

  • Carol L Lyon

    CFO/Asst Headmaster Business Services

    Total calculated
    $194,171
    From this org
    $164,008
    From related orgs
    $0
    Other
    $30,163
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $156,789
    Bonus
    $5,000
    Other
    $2,219
    Deferred
    $8,080
    Nontaxable benefits
    $22,083
    Filer's total
    $194,171

  • Tammy S Cady

    Assistant Head for Advance

    Total calculated
    $153,753
    From this org
    $146,713
    From related orgs
    $0
    Other
    $7,040
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $140,802
    Bonus
    $5,000
    Other
    $911
    Deferred
    $7,040
    Nontaxable benefits
    $0
    Filer's total
    $153,753

  • Henry W Eaton

    Academic Dean

    Total calculated
    $136,075
    From this org
    $118,533
    From related orgs
    $0
    Other
    $17,542
    Hours/week
    40

  • Binaca M Hanson

    Asst Headmaster Academic & Student Life

    Total calculated
    $198,205
    From this org
    $165,720
    From related orgs
    $0
    Other
    $32,485
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $140,081
    Bonus
    $25,000
    Other
    $639
    Deferred
    $7,250
    Nontaxable benefits
    $25,235
    Filer's total
    $198,205

  • John Lenzini

    Assoc Headmaster

    Total calculated
    $188,614
    From this org
    $149,744
    From related orgs
    $0
    Other
    $38,870
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $145,094
    Bonus
    $4,000
    Other
    $650
    Deferred
    $7,425
    Nontaxable benefits
    $31,445
    Filer's total
    $188,614

  • James G Mazzonna

    Chief Technology Officer

    Total calculated
    $145,578
    From this org
    $138,919
    From related orgs
    $0
    Other
    $6,659
    Hours/week
    60

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
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 1a
As a condition of employment, the headmaster and assistant headmaster reside on campus.
Part I, Lines 4a-b
Line 4b: Sharon Howell, Headmaster, and Thomas Lovett, former Headmaster, both participate in a Section 457(f) plan. St. Johnsbury Academy
Part I, Line 7
Sharon Howell's bonus was awarded by the compensation committee of the board of trustees. Other members of the Administrative Leadership Team were awarded bonuses based on the Headmaster's discretion.

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.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Kingdom Development Company Inc

    C · Online education and economic development · VT · 71.79% owned · share of income $381,585 · share of assets $1,272,963 · controlled entity

    Directly controlled by St Johnsbury Academy

  • Prescott W Stearns FBO St Johnsbury Academy Trust

    T · Beneficial Interest in Trust · NJ · 100% owned · share of income $42,829 · share of assets $2,465,045 · controlled entity

    Directly controlled by St Johnsbury Academy

  • Dussault Family Legacy Trust

    T · Beneficial Interest in Trust · VT · 100% owned · share of assets $385,791 · controlled entity

    Directly controlled by St Johnsbury Academy

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202423189349309682

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