Skip to content
Nonprofiteer
← TAFT SCHOOL CORPORATION

Form 990 for tax year 2023

Filed by TAFT SCHOOL CORPORATION.

Totals

Total revenue
$80,362,023
Total expenses
$65,837,521
Contributions and grants received
$18,830,748
Grants paid
$10,908,628
Program service revenue
$41,333,362
Investment income
$19,748,764
Other revenue
$449,149
Total assets, end of year
$493,572,563
Total liabilities, end of year
$64,460,191
Net assets or fund balances, end of year
$429,112,372
Program services expenses (Part IX)
$54,371,090
Management and general expenses
$7,586,321
Fundraising expenses
$3,880,110
Program service expenses (Part III)
$54,371,090

Program services were 82.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • SARKIS D IZMIRLIAN

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • ERNEST O KWARTENG

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • AMISH H MEHTA

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • JONATHAN D ALBERT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • SUPRIYA BALSEKAR BOOTH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • PETER CBOWDEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • HENRY G BRAUER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • DIANA SANDS CALVARUSO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • FOSTER CHIANG

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • KATAMA GUERNSEY EASTMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • ICY H FRANTZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • J KINGMAN GORDON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • MICHAEL M HUMPHREYS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • ROGER LEE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • CHARMAINE S LESTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • MR NAVID A MAHMOODZADEGAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • AMANDA C MCGOVERN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • PAUL T MCGOWAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • ANTHONY W PASQUARIELLO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • E MARC PINTO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • EMILY ISRAEL PLUHAR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • JOHN K RIGGINS JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • ROBERT F SAVAGE JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • DYLAN SIMONDS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • KATE GENUNG TAYLOR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • JEFFREY M WALSH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • NANA CHIU WANG

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • ROBIN WANG

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • SCOTT G WILLARD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • JOANNE K ZIESING

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • PETER BECKER

    PRESIDENT/HEAD OF SCHOOL EFF 7/1/23

    Total calculated
    $336,922
    From this org
    $242,834
    From related orgs
    $0
    Other
    $94,088
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $240,243
    Bonus
    $0
    Other
    $2,591
    Deferred
    $0
    Nontaxable benefits
    $94,088
    Filer's total
    $336,922

  • JOHN H ODDEN

    CFO

    Total calculated
    $392,737
    From this org
    $293,387
    From related orgs
    $0
    Other
    $99,350
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $293,387
    Bonus
    $0
    Other
    $0
    Deferred
    $23,896
    Nontaxable benefits
    $75,454
    Filer's total
    $392,737

  • ARTHUR L CRIMMINS

    CHIEF ADVANCEMENT OFFICER

    Total calculated
    $361,489
    From this org
    $277,944
    From related orgs
    $0
    Other
    $83,545
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $277,417
    Bonus
    $0
    Other
    $527
    Deferred
    $23,056
    Nontaxable benefits
    $60,489
    Filer's total
    $361,489

  • EDITH F TRAINA

    ASSIST. HEAD OF SCHOOL FOR FACULTY & ACADEMICS

    Total calculated
    $332,507
    From this org
    $188,430
    From related orgs
    $0
    Other
    $144,077
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,430
    Bonus
    $0
    Other
    $0
    Deferred
    $13,168
    Nontaxable benefits
    $130,909
    Filer's total
    $332,507

  • DAVID JEREMY LACASSE

    ASSIST. HEAD OF SCHOOL FOR STUDENT LIFE

    Total calculated
    $290,438
    From this org
    $169,941
    From related orgs
    $0
    Other
    $120,497
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,941
    Bonus
    $0
    Other
    $0
    Deferred
    $15,527
    Nontaxable benefits
    $104,970
    Filer's total
    $290,438

  • PETER A FREW

    DIR. OF ADMISSIONS

    Total calculated
    $250,086
    From this org
    $186,690
    From related orgs
    $0
    Other
    $63,396
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $186,690
    Bonus
    $0
    Other
    $0
    Deferred
    $22,882
    Nontaxable benefits
    $40,514
    Filer's total
    $250,086

  • KAITLIN ORFITELLI

    DIR. OF MARKETING & COMMUNICATIONS

    Total calculated
    $283,286
    From this org
    $162,711
    From related orgs
    $0
    Other
    $120,575
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,711
    Bonus
    $0
    Other
    $0
    Deferred
    $13,805
    Nontaxable benefits
    $106,770
    Filer's total
    $283,286

  • HEIDI LEATHERMAN

    CONTROLLER

    Total calculated
    $194,276
    From this org
    $163,620
    From related orgs
    $0
    Other
    $30,656
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,620
    Bonus
    $0
    Other
    $0
    Deferred
    $13,351
    Nontaxable benefits
    $17,305
    Filer's total
    $194,276

  • JAMES SHEPERD

    DIRECTOR OF FACILITIES

    Total calculated
    $228,743
    From this org
    $152,734
    From related orgs
    $0
    Other
    $76,009
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,835
    Bonus
    $0
    Other
    $899
    Deferred
    $19,170
    Nontaxable benefits
    $56,839
    Filer's total
    $228,743

  • SUSAN HEREBY

    LEGAL COUNSEL

    Total calculated
    $225,213
    From this org
    $163,153
    From related orgs
    $0
    Other
    $62,060
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,153
    Bonus
    $0
    Other
    $0
    Deferred
    $16,592
    Nontaxable benefits
    $45,468
    Filer's total
    $225,213

  • WILLIAM MACMULLEN

    FORMER PRES./HEAD OF SCHOOL EFF 7/1/23

    Total calculated
    $939,249
    From this org
    $804,028
    From related orgs
    $0
    Other
    $135,221
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $465,308
    Bonus
    $325,000
    Other
    $13,720
    Deferred
    $72,600
    Nontaxable benefits
    $62,621
    Filer's total
    $939,249

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 · Discretionary spending account
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE SCHOOL OPERATES AS A BOARDING SCHOOL WITH APPROXIMATELY 500 STUDENTS RESIDING ON CAMPUS. ACCORDINGLY, CERTAIN INDIVIDUALS ARE REQUIRED TO RESIDE ON CAMPUS. THE VALUE OF SCHOOL HOUSING PROVIDED FOR THIS PURPOSE MEETS THE REQUIREMENT FOR TAX EXEMPTION UNDER IRC SECTION 119, AND ACCORDINGLY, IS INCLUDED IN NON-TAXABLE BENEFITS. THE FOLLOWING INDIVIDUALS, LISTED ON PART II, RECEIVED HOUSING: WILLIAM MACMULLIN, JOHN H. ODDEN, PETER BECKER, EDITH F. TRAINA, AND PETER A. FREW. THE HEAD OF SCHOOL IS PROVIDED A DISCRETIONARY SPENDING ACCOUNT AS PART OF THE SCHOOL'S OPERATING BUDGET. PROCESSES AND PROCEDURES ARE IN PLACE TO VERIFY THE BUSINESS NATURE OF THESE EXPENDITURES. THIS IS NOT CONSIDERED A TAXABLE BENEFIT TO THE HEAD OF SCHOOL.
PART I, LINE 4B
THE HEAD OF SCHOOL PARTICIPATES IN A 457(F) PLAN.
PART I, LINE 7
BONUS FOR THE FORMER PRESIDENT/HEAD OF SCHOOL WAS AWARDED AT THE DISCRETION OF THE BOARD OF TRUSTEES PRIOR TO JUNE 30, 2023.

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 corporations and trusts

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

  • CHARITABLE REMAINDER TRUSTS (2)

    T · TRUST · CT · controlled entity

    Directly controlled by THE TAFT SCHOOL CORPORATION

  • CHARITABLE REMAINDER TRUST (1)

    T · TRUST · CT

Provenance

Return type
form_990
Tax year
2023
Filed
16 December 2024
IRS schema version
2023v6.0
Source object
202500779349300135

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.