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Nonprofiteer
← MOUNT PROSPECT ACADEMY INC

Form 990 for tax year 2022

Filed by MOUNT PROSPECT ACADEMY INC.

Totals

Total revenue
$54,649,230
Total expenses
$44,048,629
Contributions and grants received
$6,497,779
Grants paid
$3,166
Program service revenue
$47,962,275
Investment income
$186,402
Other revenue
$2,774
Total assets, end of year
$42,195,235
Total liabilities, end of year
$10,529,718
Net assets or fund balances, end of year
$31,665,517
Program services expenses (Part IX)
$34,669,451
Management and general expenses
$9,379,178
Fundraising expenses
$0
Program service expenses (Part III)
$34,669,451

Program services were 78.7% 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.

  • 1c · Fundraising events

    $13,881

  • 1e · Government grants (contributions)

    $6,423,518

  • 1f · All other contributions, gifts and grants

    $60,380

  • 1g · Noncash contributions included above

    $5,700

  • 2a · Program service revenue: Tuition

    total $47,733,429 · related or exempt $47,733,429

  • 2b · Program service revenue: Other Income

    total $172,649 · related or exempt $172,649

  • 2c · Program service revenue: State Nutrition

    total $56,197 · related or exempt $56,197

  • 3 · Investment income

    total $182,782 · excluded $182,782

  • 6a · Gross rents

    real property $33,565

  • 6b · Less rental expenses

    real property $30,791

  • 6c · Rental income or loss

    real property $2,774

  • 6d · Net rental income or loss

    total $2,774 · excluded $2,774

  • 7a · Gross sales of assets other than inventory

    securities $3,620

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

    securities $0

  • 7c · Gain or loss

    securities $3,620

  • 7d · Net gain or loss

    total $3,620 · excluded $3,620

  • 8a · Fundraising events: gross income

    $8,089

  • 8a · Fundraising events: contributions included on line 1c

    $13,881

  • 8b · Fundraising events: direct expenses

    $8,089

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $3,166 · program services $3,166

  • 5 · Compensation of officers, directors and key employees

    total $985,352 · program services $777,758 · management and general $207,594

  • 7 · Other salaries and wages

    total $25,677,928 · program services $20,268,110 · management and general $5,409,818

  • 8 · Pension plan contributions

    total $415,630 · program services $328,163 · management and general $87,467

  • 9 · Other employee benefits

    total $3,445,834 · program services $2,719,749 · management and general $726,085

  • 10 · Payroll taxes

    total $1,970,948 · program services $1,555,711 · management and general $415,237

  • 11b · Fees: legal

    total $80,836 · management and general $80,836

  • 11c · Fees: accounting

    total $85,420 · management and general $85,420

  • 11g · Fees: other

    total $1,130,134 · program services $1,061,681 · management and general $68,453

  • 12 · Advertising and promotion

    total $15,023 · program services $11,861 · management and general $3,162

  • 13 · Office expenses

    total $3,339,311 · program services $2,708,060 · management and general $631,251

  • 16 · Occupancy

    total $1,856,484 · program services $1,480,691 · management and general $375,793

  • 17 · Travel

    total $1,207,575 · program services $1,015,508 · management and general $192,067

  • 19 · Conferences, conventions and meetings

    total $693,644 · program services $547,025 · management and general $146,619

  • 20 · Interest

    total $334,735 · program services $264,282 · management and general $70,453

  • 22 · Depreciation, depletion and amortization

    total $1,390,857 · program services $1,109,339 · management and general $281,518

  • 23 · Insurance

    total $465,368 · program services $371,483 · management and general $93,885

  • 24a · Other expenses: Student Clothing & Pers

    total $630,907 · program services $158,790 · management and general $472,117

  • 24b · Other expenses: Miscellaneous

    total $205,696 · program services $174,293 · management and general $31,403

  • 24c · Other expenses: Bad Debt Expense

    total $110,591 · program services $110,591

  • 24d · Other expenses: Farm

    total $3,190 · program services $3,190

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $93,075 · end of year $129,829

  • 2 · Savings and temporary cash investments

    beginning of year $11,815,488 · end of year $16,727,785

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $3,526,101

  • 4 · Accounts receivable

    beginning of year $5,642,556 · end of year $6,806,340

  • 9 · Prepaid expenses and deferred charges

    beginning of year $226,908 · end of year $538,016

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

    $22,899,726

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

    $9,671,843

  • 10c · Land, buildings and equipment, net

    beginning of year $12,257,381 · end of year $13,227,883

  • 14 · Intangible assets

    beginning of year $0 · end of year $1,035,965

  • 15 · Other assets

    beginning of year $1,205,897 · end of year $203,316

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,403,823 · end of year $2,092,103

  • 23 · Secured mortgages and notes payable

    beginning of year $6,038,055 · end of year $6,378,637

  • 25 · Other liabilities

    beginning of year $734,511 · end of year $2,058,978

  • 27 · Net assets without donor restrictions

    beginning of year $21,064,916 · end of year $31,665,517

Mission and programs · 2022

Mission

Operation of a school and residential treatment facilities for at risk children and youth together with related community based services for youth and families to support community engagement and transition.

Activities or mission (Part I)

Operation of a school and residential treatment facility for children and troubled youth together with related community based services.

  • Tuition, room, board and related expenses of operating a school and residential treatment facility together with ancillary programs.

    Expenses $34,669,451 · Grants $3,166 · Revenue $47,962,275

As filed on the 2022 return.

Listed in Part VII

  • Rob Bannon

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jonathan Bownes

    Director

    Total calculated
    $0
    Hours/week
    1

  • Ben Cronin

    Director

    Total calculated
    $0
    Hours/week
    1

  • Paul Fitzgerald

    Director

    Total calculated
    $0
    Hours/week
    1

  • Charles Wheeler

    Director

    Total calculated
    $0
    Hours/week
    1

  • John Sears

    CFO

    Total calculated
    $207,635
    From this org
    $185,720
    From related orgs
    $0
    Other
    $21,915
    Hours/week
    30

    Schedule J breakdown matched by us

    Base
    $185,720
    Bonus
    $0
    Other
    $0
    Deferred
    $4,377
    Nontaxable benefits
    $17,538
    Filer's total
    $207,635

  • Jeffrey Caron

    President

    Total calculated
    $335,054
    From this org
    $299,044
    From related orgs
    $0
    Other
    $36,010
    Hours/week
    30

    Schedule J breakdown matched by us

    Base
    $299,044
    Bonus
    $0
    Other
    $0
    Deferred
    $11,077
    Nontaxable benefits
    $24,933
    Filer's total
    $335,054

  • Susan Beck-Dore

    Vice President

    Total calculated
    $295,638
    From this org
    $254,699
    From related orgs
    $0
    Other
    $40,939
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $254,699
    Bonus
    $0
    Other
    $0
    Deferred
    $10,614
    Nontaxable benefits
    $30,325
    Filer's total
    $295,638

  • Jeffrey Park

    Secretary

    Total calculated
    $147,025
    From this org
    $117,342
    From related orgs
    $0
    Other
    $29,683
    Hours/week
    39

  • John R Fulp

    Director of Operations

    Total calculated
    $239,438
    From this org
    $221,726
    From related orgs
    $0
    Other
    $17,712
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $221,726
    Bonus
    $0
    Other
    $0
    Deferred
    $8,932
    Nontaxable benefits
    $8,780
    Filer's total
    $239,438

  • James A Marshall

    Head of Schools

    Total calculated
    $224,595
    From this org
    $194,333
    From related orgs
    $0
    Other
    $30,262
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,333
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $30,262
    Filer's total
    $224,595

  • Lara J Saffo

    Chief Compliance Officer

    Total calculated
    $196,039
    From this org
    $160,716
    From related orgs
    $0
    Other
    $35,323
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,716
    Bonus
    $0
    Other
    $0
    Deferred
    $6,817
    Nontaxable benefits
    $28,506
    Filer's total
    $196,039

  • Sarah Caron

    Director of Quality Control

    Total calculated
    $147,171
    From this org
    $141,511
    From related orgs
    $0
    Other
    $5,660
    Hours/week
    40

  • Rachel G Umberger

    Executive Director

    Total calculated
    $159,133
    From this org
    $130,011
    From related orgs
    $0
    Other
    $29,122
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $130,011
    Bonus
    $0
    Other
    $0
    Deferred
    $5,212
    Nontaxable benefits
    $23,910
    Filer's total
    $159,133

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

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

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

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.

Disregarded entities

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

  • New Hampshire Youth Program for Motorsports LLC

    Other Schools and Instruction · NH · income $77,072 · assets $44,389

    Directly controlled by Mount Prospect Academy

Provenance

Return type
form_990
Tax year
2022
Filed
30 April 2024
IRS schema version
2022v5.0
Source object
202431249349301628

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