Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $1,703,106

• 1e · Government grants (contributions)

  $2,122,582

• 1f · All other contributions, gifts and grants

  $13,211,880

• 1g · Noncash contributions included above

  $4,338,883

• 2a · Program service revenue: TUITION

  total $115,401,333 · related or exempt $115,401,333

• 2b · Program service revenue: OTHER FEES

  total $4,073,468 · related or exempt $4,073,468

• 2c · Program service revenue: OTHER PROGRAM REVENUES

  total $650,895 · related or exempt $650,895

• 2d · Program service revenue: AUXILIARY REVENUES

  total $50,828 · related or exempt $50,828

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $6,921,948 · excluded $6,921,948

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7a · Gross sales of assets other than inventory

  securities $35,768,480

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

  securities $33,997,883

• 7c · Gain or loss

  securities $1,770,597 · other assets $0

• 7d · Net gain or loss

  total $1,770,597 · excluded $1,770,597

• 8a · Fundraising events: gross income

  $329,100

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

  $1,703,106

• 8b · Fundraising events: direct expenses

  $331,103

• 8c · Net income from fundraising events

  total -$2,003 · excluded -$2,003

• 11a · Other revenue: OTHER

  total $505,259 · excluded $505,259

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $505,259

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $116,000 · program services $116,000

• 2 · Grants to domestic individuals

  total $15,891,662 · program services $15,891,662

• 4 · Benefits paid to or for members

  total $0 · program services $0

• 5 · Compensation of officers, directors and key employees

  total $4,871,216 · program services $3,732,560 · management and general $1,018,446 · fundraising $120,210

• 7 · Other salaries and wages

  total $54,366,352 · program services $49,990,637 · management and general $3,103,634 · fundraising $1,272,081

• 8 · Pension plan contributions

  total $5,113,708 · program services $4,621,969 · management and general $359,914 · fundraising $131,825

• 9 · Other employee benefits

  total $8,338,794 · program services $7,597,733 · management and general $538,584 · fundraising $202,477

• 10 · Payroll taxes

  total $3,972,790 · program services $3,606,923 · management and general $271,987 · fundraising $93,880

• 11b · Fees: legal

  total $802,675 · management and general $802,675

• 11c · Fees: accounting

  total $113,274 · management and general $113,274

• 11f · Fees: investment management

  total $154,662 · management and general $154,662

• 11g · Fees: other

  total $3,617,219 · program services $2,671,622 · management and general $817,321 · fundraising $128,276

• 13 · Office expenses

  total $2,685,999 · program services $2,289,128 · management and general $249,391 · fundraising $147,480

• 14 · Information technology

  total $1,499,149 · program services $1,049,405 · management and general $374,787 · fundraising $74,957

• 16 · Occupancy

  total $4,474,402 · program services $4,026,962 · management and general $402,696 · fundraising $44,744

• 17 · Travel

  total $764,554 · program services $761,568 · management and general $2,611 · fundraising $375

• 19 · Conferences, conventions and meetings

  total $591,248 · program services $389,685 · management and general $5,464 · fundraising $196,099

• 20 · Interest

  total $1,235,038 · program services $1,235,038

• 22 · Depreciation, depletion and amortization

  total $10,094,714 · program services $9,085,243 · management and general $908,524 · fundraising $100,947

• 23 · Insurance

  total $987,733 · management and general $987,733

• 24a · Other expenses: OTHER

  total $6,432,818 · program services $4,802,786 · management and general $848,235 · fundraising $781,797

• 24b · Other expenses: FOOD SERVICE

  total $4,623,041 · program services $4,537,891 · management and general $63,301 · fundraising $21,849

• 24c · Other expenses: Parents Association

  total $119,878 · program services $119,878

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,058,995 · end of year $2,726,895

• 2 · Savings and temporary cash investments

  beginning of year $13,677,887 · end of year $4,329,816

• 3 · Pledges and grants receivable

  beginning of year $15,320,403 · end of year $10,934,253

• 4 · Accounts receivable

  beginning of year $161,238 · end of year $99,071

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $91,469 · end of year $96,074

• 9 · Prepaid expenses and deferred charges

  beginning of year $495,836 · end of year $1,302,907

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

  $293,528,377

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

  $117,659,709

• 10c · Land, buildings and equipment, net

  beginning of year $179,564,778 · end of year $175,868,668

• 11 · Investments: publicly traded securities

  beginning of year $212,763,661 · end of year $249,271,667

• 12 · Investments: other securities

  beginning of year $83,353,805 · end of year $94,995,606

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $2,566,588 · end of year $1,831,828

• 17 · Accounts payable and accrued expenses

  beginning of year $6,204,669 · end of year $7,161,376

• 19 · Deferred revenue

  beginning of year $64,145,154 · end of year $65,238,983

• 20 · Tax-exempt bond liabilities

  beginning of year $14,058,823 · end of year $11,540,584

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $30,764,401 · end of year $20,708,372

• 25 · Other liabilities

  beginning of year $28,787,193 · end of year $28,882,357

• 27 · Net assets without donor restrictions

  beginning of year $306,235,746 · end of year $337,485,539

• 28 · Net assets with donor restrictions

  beginning of year $61,858,674 · end of year $70,439,574

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Housing allowance or residence for personal use

THE HOUSING ALLOWANCE IS PROVIDED TO THOMAS KELLY, HEAD OF SCHOOL, LISA MOREIRA, DIRECTOR OF INSTITUTIONAL RESEARCH & ENROLLMENT MANAGEMENT, AND GORDON JENSEN, DIRECTOR OF FACILITIES. HOUSING IS PROVIDED ON CAMPUS AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER PURSUANT TO CONTRACTUAL PROVISION AND IS NONTAXABLE.

Schedule J, Part I, Line 1a Health or social club dues or initiation fees

SOCIAL CLUB DUES ARE PROVIDED TO THOMAS KELLY AND ARE NON-TAXABLE BY VIRTUE OF BEING A WORKING CONDITION FRINGE BENEFIT UNDER IRC SECTION 132.

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

THOMAS KELLY PARTICIPATED IN A 457(F) PLAN AND ACCRUED $333,333 DURING CALENDAR YEAR 2024.

Schedule J, Part I, Line 7 Non-fixed payments

THE HEAD OF SCHOOL'S BONUS WAS APPROVED BY THE BOARD CHAIR BASED ON PERFORMANCE. THE OTHER EMPLOYEES' BONUSES WERE APPROVED BY THE HEAD OF SCHOOL BASED ON PERFORMANCE.