Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $42,597,973

• 1g · Noncash contributions included above

  $1,090,529

• 2a · Program service revenue: TUITION AND FEES

  total $43,908,194 · related or exempt $43,908,194

• 2b · Program service revenue: AUXILIARY ACTIVITIES

  total $2,967,229 · related or exempt $2,967,229

• 2c · Program service revenue: BUS REVENUE

  total $383,670 · related or exempt $383,670

• 2d · Program service revenue: OTHER PROGRAM REVENUE

  total $174,444 · related or exempt $174,444

• 3 · Investment income

  total $253,907 · excluded $253,907

• 6a · Gross rents

  real property $309,482

• 6b · Less rental expenses

  real property $167,202

• 6c · Rental income or loss

  real property $142,280

• 6d · Net rental income or loss

  total $142,280 · excluded $142,280

• 7a · Gross sales of assets other than inventory

  securities $7,002,221

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

  securities $7,001,544 · other assets $1,161,986

• 7c · Gain or loss

  securities $677 · other assets -$1,161,986

• 7d · Net gain or loss

  total -$1,161,309 · excluded -$1,161,309

• 10a · Gross sales of inventory

  $821,525

• 10b · Cost of goods sold

  $765,826

• 10c · Net income from sales of inventory

  total $55,699 · excluded $55,699

• 11a · Other revenue: ALL OTHER REVENUE

  total $9,313 · excluded $9,313

• 11e · Other revenue, total

  $9,313

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $8,299,871 · program services $8,299,871

• 5 · Compensation of officers, directors and key employees

  total $1,835,673 · management and general $1,007,693 · fundraising $827,980

• 7 · Other salaries and wages

  total $20,471,427 · program services $17,422,789 · management and general $2,559,656 · fundraising $488,982

• 8 · Pension plan contributions

  total $760,880 · program services $555,817 · management and general $171,447 · fundraising $33,616

• 9 · Other employee benefits

  total $3,972,218 · program services $2,732,641 · management and general $1,178,970 · fundraising $60,607

• 10 · Payroll taxes

  total $1,754,503 · program services $1,226,717 · management and general $449,078 · fundraising $78,708

• 11b · Fees: legal

  total $396,202 · management and general $396,202

• 11c · Fees: accounting

  total $49,050 · management and general $49,050

• 11f · Fees: investment management

  total $63,092 · management and general $63,092

• 11g · Fees: other

  total $1,176,765 · program services $615,872 · management and general $473,672 · fundraising $87,221

• 12 · Advertising and promotion

  total $129,895 · program services $41,115 · management and general $88,780

• 13 · Office expenses

  total $644,572 · program services $513,317 · management and general $113,224 · fundraising $18,031

• 14 · Information technology

  total $138,451 · program services $85,656 · management and general $50,848 · fundraising $1,947

• 16 · Occupancy

  total $2,784,410 · program services $1,660,140 · management and general $1,086,539 · fundraising $37,731

• 17 · Travel

  total $1,748,621 · management and general $1,748,621

• 19 · Conferences, conventions and meetings

  total $226,099 · program services $226,099

• 20 · Interest

  total $2,539,131 · management and general $2,539,131

• 22 · Depreciation, depletion and amortization

  total $4,174,299 · program services $3,673,383 · management and general $417,430 · fundraising $83,486

• 23 · Insurance

  total $964,614 · program services $627,369 · management and general $328,705 · fundraising $8,540

• 24a · Other expenses: CURRICULUM

  total $3,648,070 · program services $3,648,070

• 24b · Other expenses: REPAIRS AND MAINTENANCE

  total $1,369,891 · program services $587,948 · management and general $768,581 · fundraising $13,362

• 24c · Other expenses: STUDENT ACTIVITIES

  total $1,309,703 · program services $1,174,234 · management and general $135,469 · fundraising $0

• 24d · Other expenses: TAXES, PERMITS & LICENS

  total $585,640 · management and general $585,640

• 24e · All other expenses

  total $1,356,705 · program services $593,744 · management and general $306,691 · fundraising $456,270

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,866,021 · end of year $3,441,583

• 2 · Savings and temporary cash investments

  beginning of year $601,568 · end of year $23,993

• 3 · Pledges and grants receivable

  beginning of year $6,883,717 · end of year $28,647,841

• 4 · Accounts receivable

  beginning of year $103,468 · end of year $112,722

• 9 · Prepaid expenses and deferred charges

  beginning of year $672,363 · end of year $262,336

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

  $142,977,116

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

  $47,553,873

• 10c · Land, buildings and equipment, net

  beginning of year $97,826,427 · end of year $95,423,243

• 11 · Investments: publicly traded securities

  beginning of year $13,324,806 · end of year $22,238,022

• 12 · Investments: other securities

  beginning of year $6,147,088 · end of year $6,813,206

• 15 · Other assets

  beginning of year $24,020,538 · end of year $25,050,496

• 17 · Accounts payable and accrued expenses

  beginning of year $2,551,753 · end of year $3,149,965

• 19 · Deferred revenue

  beginning of year $13,175,648 · end of year $14,621,433

• 23 · Secured mortgages and notes payable

  beginning of year $40,000,000 · end of year $40,000,000

• 24 · Unsecured notes and loans payable

  beginning of year $4,785,626 · end of year $4,658,753

• 25 · Other liabilities

  beginning of year $23,948,522 · end of year $25,014,846

• 27 · Net assets without donor restrictions

  beginning of year $57,467,240 · end of year $53,855,003

• 28 · Net assets with donor restrictions

  beginning of year $9,517,207 · end of year $40,713,442

The filer's explanations (Part III)

PART I, LINE 1A

THE HEAD OF SCHOOL RECEIVED A TAXABLE HOUSING ALLOWANCE OF $42,500 AND A TAXABLE CAR ALLOWANCE OF $3,600 IN CALENDAR YEAR 20204, THE AMOUNTS WERE INCLUDED IN HER 2024 FORM W2 AND REPORTED ON SCH J, PART II, COLUMN B (III).

PART I, LINE 7

THE HEAD OF SCHOOL IS ELIGIBLE TO RECEIVE A DISCRETIONARY BONUS AFTER THE END OF THE 2025 CONTRACT YEAR IN AN AMOUNT OF UP TO $70,000 AT THE SOLE AND ABSOLUTE DISCRETION OF THE BOARD. IN ADDITION, FOR THE THIRD YEAR OF THE TERM ONLY, (2025) DR. SHULKIND SHALL BE ELIGIBLE FOR A ONE-TIME ADDITIONAL DISCRETIONARY BONUS IN AN AMOUNT OF UP TO SEVENTY THOUSAND DOLLARS ($70,000) ("ADDITIONAL BONUS")CONDITIONAL UPON THE SCHOOL BEING NO LONGER DEPENDENT ON ANY SUPPORTER TO GUARANTEE OR OTHERWISE BE RESPONSIBLE FOR ANY OBLIGATIONS OF THE SCHOOL TO ANY FINANCIAL INSTITUTIONS. IN ANY EVENT, THE ADDITIONAL BONUS SHALL BE AT THE SOLE AND ABSOLUTE DISCRETION OF THE BOARD.