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Nonprofiteer
← PARK TUDOR FOUNDATION INC

Form 990 for tax year 2023

Filed by PARK TUDOR FOUNDATION INC.

Totals

Total revenue
$33,477,353
Total expenses
$34,431,024
Contributions and grants received
$3,992,578
Grants paid
$3,657,253
Program service revenue
$28,864,490
Investment income
$558,637
Other revenue
$61,648
Total assets, end of year
$65,492,437
Total liabilities, end of year
$20,441,838
Net assets or fund balances, end of year
$45,050,599
Program services expenses (Part IX)
$29,490,001
Management and general expenses
$3,924,432
Fundraising expenses
$1,016,591
Program service expenses (Part III)
$29,490,001

Program services were 85.6% 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

    $46,776

  • 1d · Related organizations

    $2,432,000

  • 1f · All other contributions, gifts and grants

    $1,513,802

  • 1g · Noncash contributions included above

    $7,458

  • 2a · Program service revenue: TUITION AND FEES

    total $25,600,536 · related or exempt $25,600,536

  • 2b · Program service revenue: OTHER EDUCATIONAL PROGRAMS

    total $2,422,004 · related or exempt $2,422,004

  • 2c · Program service revenue: SUMMER PROGRAMS

    total $811,581 · related or exempt $811,581

  • 2d · Program service revenue: ADMISSIONS TESTING

    total $17,700 · related or exempt $17,700

  • 2e · Program service revenue: ENROLLMENT FEES

    total $12,669 · related or exempt $12,669

  • 3 · Investment income

    total $558,637 · excluded $558,637

  • 6a · Gross rents

    real property $6,619

  • 6b · Less rental expenses

    real property $1,516

  • 6c · Rental income or loss

    real property $5,103

  • 6d · Net rental income or loss

    total $5,103 · excluded $5,103

  • 8a · Fundraising events: gross income

    $43,535

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

    $46,776

  • 8b · Fundraising events: direct expenses

    $52,791

  • 8c · Net income from fundraising events

    total -$9,256 · excluded -$9,256

  • 10a · Gross sales of inventory

    $78,157

  • 10b · Cost of goods sold

    $67,793

  • 10c · Net income from sales of inventory

    total $10,364 · excluded $10,364

  • 11a · Other revenue: VENDING/CONCESSION

    total $55,437 · excluded $55,437

  • 11e · Other revenue, total

    $55,437

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $3,657,253 · program services $3,657,253

  • 5 · Compensation of officers, directors and key employees

    total $1,275,943 · program services $72,777 · management and general $1,079,399 · fundraising $123,767

  • 7 · Other salaries and wages

    total $13,261,338 · program services $11,947,348 · management and general $949,052 · fundraising $364,938

  • 8 · Pension plan contributions

    total $1,031,884 · program services $889,779 · management and general $107,628 · fundraising $34,477

  • 9 · Other employee benefits

    total $2,646,890 · program services $2,224,658 · management and general $320,220 · fundraising $102,012

  • 10 · Payroll taxes

    total $1,084,691 · program services $877,074 · management and general $162,897 · fundraising $44,720

  • 11b · Fees: legal

    total $37,619 · management and general $37,619

  • 11c · Fees: accounting

    total $39,360 · management and general $39,360

  • 11g · Fees: other

    total $21,538 · management and general $21,538

  • 12 · Advertising and promotion

    total $230,479 · program services $5,006 · management and general $222,136 · fundraising $3,337

  • 13 · Office expenses

    total $335,464 · program services $220,256 · management and general $109,872 · fundraising $5,336

  • 14 · Information technology

    total $275,853 · program services $249,096 · management and general $18,730 · fundraising $8,027

  • 16 · Occupancy

    total $3,255,608 · program services $2,853,175 · management and general $364,142 · fundraising $38,291

  • 17 · Travel

    total $42,102 · program services $39,997 · management and general $1,263 · fundraising $842

  • 19 · Conferences, conventions and meetings

    total $120,818 · program services $104,606 · management and general $16,212

  • 20 · Interest

    total $257,616 · management and general $257,616

  • 22 · Depreciation, depletion and amortization

    total $2,828,242 · program services $2,771,677 · management and general $42,424 · fundraising $14,141

  • 23 · Insurance

    total $428,595 · program services $420,023 · management and general $6,429 · fundraising $2,143

  • 24a · Other expenses: EDUCATIONAL EXPENSE

    total $1,623,733 · program services $1,616,957 · management and general $3,388 · fundraising $3,388

  • 24b · Other expenses: FOOD EXPENSE

    total $1,450,911 · program services $1,450,911

  • 24c · Other expenses: DEVELOPMENT EXPENSE

    total $266,462 · fundraising $266,462

  • 24d · Other expenses: ADMINISTRATION EXPENSE

    total $154,140 · program services $1,884 · management and general $147,546 · fundraising $4,710

  • 24e · All other expenses

    total $104,485 · program services $87,524 · management and general $16,961

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $13,296,552 · end of year $13,126,834

  • 3 · Pledges and grants receivable

    beginning of year $4,209,920 · end of year $2,902,786

  • 4 · Accounts receivable

    beginning of year $241,952 · end of year $338,740

  • 7 · Other notes and loans receivable

    beginning of year $35,918 · end of year $43,844

  • 8 · Inventories for sale or use

    beginning of year $65,219 · end of year $57,504

  • 9 · Prepaid expenses and deferred charges

    beginning of year $705,697 · end of year $729,269

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

    $88,634,698

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

    $42,227,897

  • 10c · Land, buildings and equipment, net

    beginning of year $46,957,636 · end of year $46,406,801

  • 15 · Other assets

    beginning of year $2,490,384 · end of year $1,886,659

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,535,748 · end of year $2,751,830

  • 19 · Deferred revenue

    beginning of year $9,364,973 · end of year $8,921,661

  • 25 · Other liabilities

    beginning of year $9,385,862 · end of year $8,768,347

  • 27 · Net assets without donor restrictions

    beginning of year $40,874,924 · end of year $41,503,123

  • 28 · Net assets with donor restrictions

    beginning of year $4,841,771 · end of year $3,547,476

Mission and programs · 2023

Mission

TO CREATE AN INSPIRING COLLEGE-PREPARATORY LEARNING ENVIRONMENT, WITH EXCEPTIONAL EDUCATORS AND EXTRAORDINARY OPPORTUNITIES, THAT PREPARES AND MOTIVES STUDENT TO BECOME BALANCED, CONFIDENT, AND RESOURCEFUL LIFELONG LEARNERS.

Activities or mission (Part I)

TO CREATE AN INSPIRING COLLEGE-PREPARATORY LEARNING ENVIRONMENT, WITH EXCEPTIONAL EDUCATORS AND EXTRAORDINARY OPPORTUNITIES, THAT PREPARES AND MOTIVES STUDENTS TO BECOME BALANCED, CONFIDENT, AND RESOURCEFUL LIFELONG LEARNERS.

  • TO PROVIDE PRIVATE EDUCATION FOR 1015 STUDENTS AGES 3 THROUGH GRADE 12.

    Expenses $29,490,001 · Grants $3,657,253 · Revenue $28,864,490

As filed on the 2023 return.

Listed in Part VII

  • Andrea Hailey

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Cathy Ferree

    CHAIR EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • Ersal Ozdemir

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Scott Moorehead

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Carlie Irsay-Gordon

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Eric Gershman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Denise Cordingley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Leigh Ann Lauth-O'Neill

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Aman Brar

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Theodore Schenberg

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Anoop Sondhi

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Anat Ashkenazi

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ryan Nagy

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mary Appel

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jessica Benson Cox

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dr Kim Harris

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Joe Hawkins

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Stephanie Goodrid Lawson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Maitri Ray

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Christopher Front

    HEAD OF SCHOOL

    Total calculated
    $389,610
    From this org
    $267,833
    From related orgs
    $0
    Other
    $121,777
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,911
    Bonus
    $0
    Other
    $43,922
    Deferred
    $29,954
    Nontaxable benefits
    $91,823
    Filer's total
    $389,610

  • Dennis Bisgaard

    INTERIM HEAD OF SCHOOL TO JUNE 2023

    Total calculated
    $278,115
    From this org
    $193,299
    From related orgs
    $0
    Other
    $84,816
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $192,500
    Bonus
    $0
    Other
    $799
    Deferred
    $24,796
    Nontaxable benefits
    $60,020
    Filer's total
    $278,115

  • Huiqin Zhang

    CFO TO JUNE 2023

    Total calculated
    $167,306
    From this org
    $144,954
    From related orgs
    $0
    Other
    $22,352
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $82,525
    Bonus
    $0
    Other
    $62,429
    Deferred
    $6,600
    Nontaxable benefits
    $15,752
    Filer's total
    $167,306

  • Amber Chance

    CONTROLLER AND INTERIM CFO

    Total calculated
    $162,055
    From this org
    $134,424
    From related orgs
    $0
    Other
    $27,631
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,099
    Bonus
    $0
    Other
    $325
    Deferred
    $10,720
    Nontaxable benefits
    $16,911
    Filer's total
    $162,055

  • Marty Mehringer

    CFOO BEGINNING JAN 2024

    Total calculated
    $0
    Hours/week
    40

  • Shants Hart

    ASSOC. HEAD OF SCHOOL TO JUNE 2023

    Total calculated
    $456,843
    From this org
    $446,885
    From related orgs
    $0
    Other
    $9,958
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $111,557
    Bonus
    $0
    Other
    $335,328
    Deferred
    $8,923
    Nontaxable benefits
    $1,035
    Filer's total
    $456,843

  • Kelly Teller

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $206,216
    From this org
    $171,546
    From related orgs
    $0
    Other
    $34,670
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,812
    Bonus
    $0
    Other
    $734
    Deferred
    $13,651
    Nontaxable benefits
    $21,019
    Filer's total
    $206,216

  • Courtney Whitehead

    DIRECTOR OF ATHLETICS

    Total calculated
    $164,651
    From this org
    $137,101
    From related orgs
    $0
    Other
    $27,550
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,580
    Bonus
    $0
    Other
    $521
    Deferred
    $10,566
    Nontaxable benefits
    $16,984
    Filer's total
    $164,651

  • Bill Bishop

    DIRECTOR OF FACILITIES

    Total calculated
    $218,086
    From this org
    $134,182
    From related orgs
    $0
    Other
    $83,904
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,981
    Bonus
    $0
    Other
    $1,201
    Deferred
    $10,628
    Nontaxable benefits
    $73,276
    Filer's total
    $218,086

  • Sarah Webster

    DIRECTOR OF UPPER SCHOOL

    Total calculated
    $174,344
    From this org
    $145,157
    From related orgs
    $0
    Other
    $29,187
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $144,624
    Bonus
    $0
    Other
    $533
    Deferred
    $11,560
    Nontaxable benefits
    $17,627
    Filer's total
    $174,344

  • Mary McGonagle

    DIRECTOR OF LOWER SCHOOL

    Total calculated
    $160,547
    From this org
    $132,438
    From related orgs
    $0
    Other
    $28,109
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,713
    Bonus
    $0
    Other
    $725
    Deferred
    $10,498
    Nontaxable benefits
    $17,611
    Filer's total
    $160,547

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 · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 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

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

The filer's explanations (Part III)

PART I, LINE 1A
HOUSING, AND PERSONAL SERVICES ARE PROVIDED FOR THE HEAD OF THE SCHOOL.
PART I, LINE 3
THE HEAD OF SCHOOL'S COMPENSATION IS DETERMINED BASED UPON A PERFORMANCE REVIEW CONDUCTED BY THE BOARD OF DIRECTORS. THE HEAD OF SCHOOL'S COMPENSATION DECISION IS DETERMINED BY THE FULL BOARD. PRIOR TO ENTERING INTO A NEW CONTRACT, THE HEAD OF SCHOOL'S COMPENSATION IS REVIEWED BY AN INDEPENDENT PARTY.
PART I, LINES 4A-B
THE HEAD OF SCHOOL PARTICIPATES IN A 457 PLAN. SEVERANCE PAYMENTS WERE RECEIVED BY THE LISTED EMPLOYEES DURING THE CALENDAR YEAR 2023 AS FOLLOWS: SHANTS HART: $335,000 HUIQIN ZHANG: $62,100

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • PARK TUDOR TRUST

    501(C)(3) · SUPPORT OF PARK TUDOR FOUNDATION · IN

    Directly controlled by PARK TUDOR FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
26 March 2025
IRS schema version
2023v6.0
Source object
202530879349300133

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