Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $702,272

• 1f · All other contributions, gifts and grants

  $12,445,931

• 1g · Noncash contributions included above

  $1,161,780

• 2a · Program service revenue: STUDENT TUITION

  total $14,707,306 · related or exempt $14,707,306

• 2b · Program service revenue: AUXILLARY SERVICES

  total $1,652,193 · related or exempt $1,652,193

• 3 · Investment income

  total $1,409,953 · excluded $1,409,953

• 6a · Gross rents

  real property $96,675

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $96,675

• 6d · Net rental income or loss

  total $96,675 · unrelated business $96,675

• 7a · Gross sales of assets other than inventory

  securities $1,560,279 · other assets $12,500

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

  securities $1,563,737 · other assets $0

• 7c · Gain or loss

  securities -$3,458 · other assets $12,500

• 7d · Net gain or loss

  total $9,042 · excluded $9,042

• 10a · Gross sales of inventory

  $65,239

• 10b · Cost of goods sold

  $48,133

• 10c · Net income from sales of inventory

  total $17,106 · excluded $17,106

• 11a · Other revenue: SUMMER CAMPS REVENUE

  total $228,196 · unrelated business $228,196

• 11b · Other revenue: OTHER INCOME

  total $80,991 · related or exempt $80,991

• 11e · Other revenue, total

  $309,187

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $5,067,240 · program services $5,067,240

• 5 · Compensation of officers, directors and key employees

  total $945,018 · program services $784,365 · management and general $94,502 · fundraising $66,151

• 7 · Other salaries and wages

  total $6,997,801 · program services $5,279,894 · management and general $870,915 · fundraising $846,992

• 8 · Pension plan contributions

  total $384,482 · program services $290,928 · management and general $47,581 · fundraising $45,973

• 9 · Other employee benefits

  total $1,498,487 · program services $1,139,630 · management and general $183,576 · fundraising $175,281

• 10 · Payroll taxes

  total $546,136 · program services $416,580 · management and general $66,499 · fundraising $63,057

• 11b · Fees: legal

  total $40,343 · management and general $40,343

• 11c · Fees: accounting

  total $123,522 · management and general $123,522

• 11g · Fees: other

  total $886,255 · program services $530,471 · management and general $86,428 · fundraising $269,356

• 12 · Advertising and promotion

  total $213,856 · management and general $184,281 · fundraising $29,575

• 13 · Office expenses

  total $949,703 · program services $704,289 · management and general $9,605 · fundraising $235,809

• 14 · Information technology

  total $302,536 · program services $239,272 · management and general $1,404 · fundraising $61,860

• 16 · Occupancy

  total $1,471,340 · program services $1,453,293 · management and general $18,047

• 17 · Travel

  total $296,215 · program services $231,200 · management and general $5,207 · fundraising $59,808

• 19 · Conferences, conventions and meetings

  total $83,134 · program services $52,429 · fundraising $30,705

• 20 · Interest

  total $571,522 · program services $550,839 · management and general $20,683

• 22 · Depreciation, depletion and amortization

  total $3,031,608 · program services $2,816,419 · management and general $179,593 · fundraising $35,596

• 23 · Insurance

  total $326,901 · program services $311,626 · management and general $15,275

• 24a · Other expenses: FOOD AND DINING

  total $1,613,883 · program services $1,613,883

• 24b · Other expenses: EQUESTRIAN EXPENSES

  total $963,455 · program services $963,455

• 24c · Other expenses: DUES & MEMBERSHIP

  total $107,549 · program services $98,222 · management and general $5,240 · fundraising $4,087

• 24d · Other expenses: BAD DEBT EXPENSE

  total $1,664 · management and general $1,664

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,255 · end of year $5,244

• 2 · Savings and temporary cash investments

  beginning of year $6,016,853 · end of year $5,654,145

• 4 · Accounts receivable

  beginning of year $4,453,270 · end of year $4,228,770

• 8 · Inventories for sale or use

  beginning of year $53,932 · end of year $52,671

• 9 · Prepaid expenses and deferred charges

  beginning of year $80,834 · end of year $146,921

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

  $97,280,913

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

  $47,614,713

• 10c · Land, buildings and equipment, net

  beginning of year $49,018,198 · end of year $49,666,200

• 11 · Investments: publicly traded securities

  beginning of year $32,856,169 · end of year $38,094,339

• 12 · Investments: other securities

  beginning of year $14,397,213 · end of year $15,350,624

• 15 · Other assets

  beginning of year $688,708 · end of year $567,149

• 17 · Accounts payable and accrued expenses

  beginning of year $2,931,504 · end of year $1,001,010

• 19 · Deferred revenue

  beginning of year $9,154,453 · end of year $9,226,665

• 20 · Tax-exempt bond liabilities

  beginning of year $11,568,466 · end of year $10,980,015

• 23 · Secured mortgages and notes payable

  beginning of year $4,859,533 · end of year $4,682,692

• 27 · Net assets without donor restrictions

  beginning of year $51,092,751 · end of year $46,095,658

• 28 · Net assets with donor restrictions

  beginning of year $27,962,725 · end of year $41,780,023

The filer's explanations (Part III)

PART I, LINE 1A

CERTAIN EMPLOYEES, INCLUDING THE HEAD OF SCHOOL, ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. THE SCHOOL REPORTS THE VALUE OF THE HOUSING AS NONTAXABLE BENEFITS IN SCHEDULE J, PART II, COLUMN (D). THE HEAD OF SCHOOL HOSTS EVENTS AT THE RESIDENCE. A CLEANING SERVICE IS USED TO CLEAN THE PUBLIC AREAS OF THE HOME, NOT THE PERSONAL SPACE. THEREFORE, THIS IS NOT TREATED AS TAXABLE INCOME.