Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $1,895,569

• 1f · All other contributions, gifts and grants

  $5,230,677

• 1g · Noncash contributions included above

  $351,873

• 2a · Program service revenue: Tuition and Fees

  total $23,307,534 · related or exempt $23,307,534

• 2b · Program service revenue: Summer Programs

  total $988,153 · related or exempt $929,882 · unrelated business $58,271

• 2c · Program service revenue: Instructional Support

  total $958,698 · related or exempt $958,698

• 2d · Program service revenue: Student Related

  total $336,621 · related or exempt $336,621

• 2e · Program service revenue: Miscellaneous Revenue

  total $46,500 · related or exempt $15,370 · unrelated business $31,130

• 3 · Investment income

  total $715,789 · excluded $715,789

• 7a · Gross sales of assets other than inventory

  securities $6,602,631

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

  securities $6,603,484 · other assets $36,784

• 7c · Gain or loss

  securities -$853 · other assets -$36,784

• 7d · Net gain or loss

  total -$37,637 · excluded -$37,637

• 8a · Fundraising events: gross income

  $84,783

• 8b · Fundraising events: direct expenses

  $64,499

• 8c · Net income from fundraising events

  total $20,284 · excluded $20,284

• 11a · Other revenue: Distribution from beneficial trus

  total $303,455 · excluded $303,455

• 11e · Other revenue, total

  $303,455

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $12,500 · program services $12,500

• 2 · Grants to domestic individuals

  total $6,328,856 · program services $6,328,856

• 5 · Compensation of officers, directors and key employees

  total $1,522,589 · management and general $1,522,589

• 7 · Other salaries and wages

  total $8,421,282 · program services $7,298,805 · management and general $546,504 · fundraising $575,973

• 8 · Pension plan contributions

  total $479,233 · program services $431,385 · management and general $14,900 · fundraising $32,948

• 9 · Other employee benefits

  total $1,412,830 · program services $1,107,343 · management and general $113,192 · fundraising $192,295

• 10 · Payroll taxes

  total $683,590 · program services $524,601 · management and general $121,278 · fundraising $37,711

• 11b · Fees: legal

  total $46,874 · management and general $46,874

• 11c · Fees: accounting

  total $52,200 · management and general $52,200

• 11g · Fees: other

  total $1,680,008 · program services $1,153,206 · management and general $459,838 · fundraising $66,964

• 12 · Advertising and promotion

  total $20,041 · management and general $20,041

• 13 · Office expenses

  total $576,159 · program services $416,533 · management and general $105,291 · fundraising $54,335

• 16 · Occupancy

  total $1,292,674 · program services $1,275,800 · management and general $8,437 · fundraising $8,437

• 17 · Travel

  total $618,112 · program services $497,135 · management and general $78,507 · fundraising $42,470

• 20 · Interest

  total $491,422 · program services $429,332 · management and general $62,090

• 22 · Depreciation, depletion and amortization

  total $2,222,279 · program services $2,179,683 · management and general $42,596

• 23 · Insurance

  total $337,029 · management and general $337,029

• 24a · Other expenses: Food Service

  total $827,844 · program services $763,448 · management and general $20,462 · fundraising $43,934

• 24b · Other expenses: Other Expenses

  total $635,689 · program services $421,928 · management and general $206,255 · fundraising $7,506

• 24c · Other expenses: Maintenance and Equipme

  total $554,022 · program services $432,826 · management and general $92,379 · fundraising $28,817

• 24d · Other expenses: Plant Expenses

  total $303,936 · program services $303,936

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,616,681 · end of year $223,817

• 2 · Savings and temporary cash investments

  beginning of year $15,696,442 · end of year $21,735,210

• 3 · Pledges and grants receivable

  beginning of year $575,730 · end of year $316,860

• 4 · Accounts receivable

  beginning of year $659,126 · end of year $634,347

• 8 · Inventories for sale or use

  beginning of year $53,498 · end of year $59,569

• 9 · Prepaid expenses and deferred charges

  beginning of year $245,660 · end of year $296,214

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

  $77,075,617

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

  $29,822,366

• 10c · Land, buildings and equipment, net

  beginning of year $46,198,282 · end of year $47,253,251

• 11 · Investments: publicly traded securities

  beginning of year $10,798,873 · end of year $13,283,415

• 12 · Investments: other securities

  beginning of year $326,291 · end of year $326,291

• 14 · Intangible assets

  beginning of year $388,061 · end of year $1,197,917

• 15 · Other assets

  beginning of year $8,999,949 · end of year $9,410,682

• 17 · Accounts payable and accrued expenses

  beginning of year $1,437,748 · end of year $2,372,131

• 19 · Deferred revenue

  beginning of year $6,813,108 · end of year $7,456,072

• 20 · Tax-exempt bond liabilities

  beginning of year $17,910,313 · end of year $17,294,785

• 21 · Escrow or custodial account liability

  beginning of year $68,905 · end of year $81,494

• 23 · Secured mortgages and notes payable

  end of year $1,271,787

• 25 · Other liabilities

  beginning of year $984,409 · end of year $1,329,891

• 27 · Net assets without donor restrictions

  beginning of year $33,422,573 · end of year $36,763,647

• 28 · Net assets with donor restrictions

  beginning of year $24,921,537 · end of year $28,167,766

The filer's explanations (Part III)

Part I, Line 1a

Housing was provided to President of Brewster and BAI, Head of School, Director of Enrollment Management, Assistant Head of School for Global Initiatives, and Director of Advancement The Head of School receives a tax gross-up for tuition remission.

Part I, Line 4b

Craig Gemmell, President, and Kristy Kerin, Head of School, participate in a 457f plan. Brewster Academy contributed $27,000 and $20,000, respectively, on their behalf into the plan.

Part I, Line 7

Craig Gemmell, President of Brewster & BAI, Nick Wilbur, Director of Enrollment Management, and Kristy Kerin, Head of School received a bonus during the year based on goals established in their contracts which were met during the prior year.

Related corporations and trusts

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

• The John Brewster Trust

  T · Perpetual Trust · NH · 70% owned · share of income -$94,797 · share of assets $8,173,385

• BA International LLC

  C · Educational Services · NH · 100% owned · share of income $269,017 · share of assets $43,875 · controlled entity

  Directly controlled by Brewster Academy