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Nonprofiteer
← WESTOVER SCHOOL INC

Form 990 for tax year 2023

Filed by WESTOVER SCHOOL INC.

Totals

Total revenue
$17,900,989
Total expenses
$21,340,198
Contributions and grants received
$2,681,549
Grants paid
$4,426,573
Program service revenue
$9,631,369
Investment income
$5,575,631
Other revenue
$12,440
Total assets, end of year
$106,381,795
Total liabilities, end of year
$25,074,507
Net assets or fund balances, end of year
$81,307,288
Program services expenses (Part IX)
$14,038,751
Management and general expenses
$5,942,522
Fundraising expenses
$1,358,925
Program service expenses (Part III)
$14,038,751

Program services were 65.8% 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

    $2,681,549

  • 1g · Noncash contributions included above

    $294,813

  • 2a · Program service revenue: TUITION AND FEES

    total $9,551,391 · related or exempt $9,551,391

  • 2b · Program service revenue: AUXILIARY PROGRAMS AND FEES

    total $79,978 · related or exempt $79,978

  • 3 · Investment income

    total $310,642 · unrelated business $625,847 · excluded -$315,205

  • 7a · Gross sales of assets other than inventory

    securities $168,673,710

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

    securities $163,408,721

  • 7c · Gain or loss

    securities $5,264,989

  • 7d · Net gain or loss

    total $5,264,989 · unrelated business $574 · excluded $5,264,415

  • 10a · Gross sales of inventory

    $28,105

  • 10b · Cost of goods sold

    $49,082

  • 10c · Net income from sales of inventory

    total -$20,977 · related or exempt -$20,977

  • 11a · Other revenue: MISCELLANEOUS

    total $33,417 · related or exempt $33,417

  • 11e · Other revenue, total

    $33,417

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $30,000 · program services $30,000

  • 2 · Grants to domestic individuals

    total $4,396,573 · program services $4,396,573

  • 5 · Compensation of officers, directors and key employees

    total $630,465 · program services $55,465 · management and general $538,025 · fundraising $36,975

  • 7 · Other salaries and wages

    total $5,523,935 · program services $3,807,437 · management and general $1,240,331 · fundraising $476,167

  • 8 · Pension plan contributions

    total $260,496 · program services $171,104 · management and general $64,073 · fundraising $25,319

  • 9 · Other employee benefits

    total $927,311 · program services $718,286 · management and general $112,829 · fundraising $96,196

  • 10 · Payroll taxes

    total $410,086 · program services $256,028 · management and general $124,467 · fundraising $29,591

  • 11b · Fees: legal

    total $164,896 · management and general $164,896

  • 11c · Fees: accounting

    total $150,240 · management and general $150,240

  • 11f · Fees: investment management

    total $245,348 · management and general $245,348

  • 11g · Fees: other

    total $2,410,724 · program services $376,305 · management and general $1,748,660 · fundraising $285,759

  • 13 · Office expenses

    total $137,980 · program services $20,522 · management and general $109,626 · fundraising $7,832

  • 16 · Occupancy

    total $1,767,359 · program services $1,041,221 · management and general $559,604 · fundraising $166,534

  • 17 · Travel

    total $121,904 · program services $46,127 · management and general $68,550 · fundraising $7,227

  • 20 · Interest

    total $572,755 · program services $337,433 · management and general $181,353 · fundraising $53,969

  • 22 · Depreciation, depletion and amortization

    total $1,544,345 · program services $909,835 · management and general $488,991 · fundraising $145,519

  • 23 · Insurance

    total $253,182 · program services $149,159 · management and general $80,166 · fundraising $23,857

  • 24a · Other expenses: STUDENT SERVICES AND AC

    total $1,622,722 · program services $1,622,216 · management and general $506

  • 24b · Other expenses: OTHER EXPENSES

    total $87,298 · program services $87,298 · management and general $0

  • 24c · Other expenses: BAD DEBT EXPENSE

    total $64,857 · management and general $64,857

  • 24d · Other expenses: PROFESSIONAL DEVELOPMEN

    total $17,722 · program services $13,742 · fundraising $3,980

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $371,316

  • 2 · Savings and temporary cash investments

    beginning of year $36,373 · end of year $1,429,612

  • 3 · Pledges and grants receivable

    beginning of year $141,214 · end of year $61,139

  • 4 · Accounts receivable

    beginning of year $42,652 · end of year $2,333,853

  • 7 · Other notes and loans receivable

    beginning of year $13,426

  • 8 · Inventories for sale or use

    beginning of year $45,778 · end of year $50,094

  • 9 · Prepaid expenses and deferred charges

    beginning of year $25,116 · end of year $296,532

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

    $60,649,223

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

    $23,229,008

  • 10c · Land, buildings and equipment, net

    beginning of year $37,814,087 · end of year $37,420,215

  • 11 · Investments: publicly traded securities

    beginning of year $31,225,058 · end of year $5,546,697

  • 12 · Investments: other securities

    beginning of year $35,240,592 · end of year $59,243,653

  • 15 · Other assets

    beginning of year $2,120

  • 17 · Accounts payable and accrued expenses

    beginning of year $777,497 · end of year $1,522,421

  • 19 · Deferred revenue

    beginning of year $1,024,301 · end of year $4,481,545

  • 20 · Tax-exempt bond liabilities

    beginning of year $19,272,910 · end of year $18,734,750

  • 24 · Unsecured notes and loans payable

    beginning of year $13,465

  • 25 · Other liabilities

    beginning of year $420,882 · end of year $335,791

  • 27 · Net assets without donor restrictions

    beginning of year $17,149,424 · end of year $16,136,199

  • 28 · Net assets with donor restrictions

    beginning of year $66,299,253 · end of year $65,171,089

Mission and programs · 2023

Mission

WESTOVER SCHOOL EMPOWERS YOUNG WOMEN TO LEAD LIVES OF CONSEQUENCE.

  • THE PROGRAM SERVICES RENDERED ARE THOSE ASSOCIATED WITH COLLEGE PREP INSTITUTIONS FOR APPROXIMATELY 149 ENROLLED YOUNG WOMEN DURING THE TAX YEAR ENDED JUNE 30, 2024. THESE INCLUDE: PROVIDING AN ENVIRONMENT SUITABLE FOR THE EDUCATION, DORMITORY SERVICE, TEXTBOOKS AND SUPPLIES AND ATHLETIC FACILITIES INCLUDING USE OF THE FACILITIES BY OTHER ORGANIZATIONS FOR THE SAME PURPOSE.

    Expenses $14,038,751 · Grants $4,426,573 · Revenue $9,643,809

As filed on the 2023 return.

Listed in Part VII

  • Fredlund Polly

    HEAD OF SCHOOL (AS OF 07/23)

    Total calculated
    $188,425
    From this org
    $152,858
    From related orgs
    $0
    Other
    $35,567
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,633
    Bonus
    $0
    Other
    $225
    Deferred
    $11,250
    Nontaxable benefits
    $24,317
    Filer's total
    $188,425

  • Phil Salmon

    CFOO (AS OF 08/23)

    Total calculated
    $136,436
    From this org
    $108,312
    From related orgs
    $0
    Other
    $28,124
    Hours/week
    40

  • Hoagland Alison

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Williams Lata

    VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Dasilva Tatiana

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Carpenter Susanne

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Atchinson Greta

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Berger Alisa

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Cooper Aaron

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Edwards Caroline Campbell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ethie Rita

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Foster Xiania

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Francis Marra

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Nelson Justin

    BOARD MEMBER (THRU 10/23)

    Total calculated
    $0
    Hours/week
    1

  • Poindexter Becca

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Previn Fletcher

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sabatini Jennifer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Savoye Carlton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Senich Karen

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Solberg Karsten

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Risner Mary

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $275,405
    From this org
    $204,486
    From related orgs
    $0
    Other
    $70,919
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,561
    Bonus
    $19,635
    Other
    $1,290
    Deferred
    $28,601
    Nontaxable benefits
    $42,318
    Filer's total
    $275,405

  • Richard Matzinger

    CONTROLLER

    Total calculated
    $210,000
    From this org
    $166,929
    From related orgs
    $0
    Other
    $43,071
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,452
    Bonus
    $0
    Other
    $477
    Deferred
    $9,323
    Nontaxable benefits
    $33,748
    Filer's total
    $210,000

  • Copploa Michael

    DIRECTOR OF FACILITIES

    Total calculated
    $138,164
    From this org
    $136,097
    From related orgs
    $0
    Other
    $2,067
    Hours/week
    40

  • Hill Jen

    DIRECTOR OF HEALTH

    Total calculated
    $152,524
    From this org
    $102,797
    From related orgs
    $0
    Other
    $49,727
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $102,659
    Bonus
    $0
    Other
    $138
    Deferred
    $5,645
    Nontaxable benefits
    $44,082
    Filer's total
    $152,524

  • Eera Sharma

    CHIEF ACADEMIC OFFICER

    Total calculated
    $126,000
    From this org
    $120,000
    From related orgs
    $0
    Other
    $6,000
    Hours/week
    40

  • Montegomery Archibald IV

    FORMER INTERIM HEAD OF SCHOOL

    Total calculated
    $190,621
    From this org
    $178,063
    From related orgs
    $0
    Other
    $12,558
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,000
    Bonus
    $0
    Other
    $3,063
    Deferred
    $6,058
    Nontaxable benefits
    $6,500
    Filer's total
    $190,621

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
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Answered no

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing 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
  • 9 · Followed the rebuttable-presumption procedure

The filer's explanations (Part III)

PART I, LINE 1A
THE SCHOOL PROVIDES THE HEAD OF SCHOOL AND CHIEF FINANCIAL AND OPERATING OFFICER WITH HOUSING ON THE SCHOOL'S CAMPUS, AS THEY ARE REQUIRED BY THEIR EMPLOYMENT AGREEMENTS TO RESIDE ON CAMPUS AS A CONDITION OF EMPLOYMENT. THE VALUE OF THIS HOUSING IS INCLUDED AS A NONTAXABLE BENEFIT.
PART I, LINE 3
THE SCHOOL HAS A COMPENSATION COMMITTEE THAT IS CHAIRED BY THE PRESIDENT OF THE BOARD OF TRUSTEES. THE COMMITTEE REVIEWS STATISTICAL DATA FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS AND SURVEYS OF CT INDEPENDENT SCHOOLS TO PROVIDE COMPARATIVE DATA. IN DETERMINING COMPENSATION, A PERFORMANCE REVIEW IS ALSO COMPLETED.
PART I, LINE 7
A BONUS WAS PAID, AS APPROVED BY THE HEAD OF SCHOOL, TO THE CHIEF DEVELOPMENT OFFICER BASED ON PERFORMANCE.
PART I, LINE 8
THE HEAD OF SCHOOL IS IN HER INITIAL EMPLOYMENT AGREEMENT, WHICH IS EFFECTIVE THROUGH JUNE 30, 2026.

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 MIDDLEBURY

    $30,000

    CONTRIBUTION

Provenance

Return type
form_990
Tax year
2023
Filed
12 May 2025
IRS schema version
2023v6.0
Source object
202511339349302776

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