Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $71,650

• 1e · Government grants (contributions)

  $187,814

• 1f · All other contributions, gifts and grants

  $9,181,565

• 1g · Noncash contributions included above

  $504,132

• 2a · Program service revenue: TUITION AND FEES

  total $22,585,230 · related or exempt $22,585,230

• 2b · Program service revenue: AUXILIARY PROGRAMS

  total $1,567,114 · related or exempt $1,567,114

• 2c · Program service revenue: MUSIC LESSONS

  total $607,900 · related or exempt $607,900

• 2d · Program service revenue: ADMISSIONS AND FEES

  total $136,416 · related or exempt $136,416

• 3 · Investment income

  total $1,000,671 · excluded $1,000,671

• 6a · Gross rents

  real property $269,093

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $269,093

• 6d · Net rental income or loss

  total $269,093 · excluded $269,093

• 7a · Gross sales of assets other than inventory

  securities $1,340,066 · other assets $9,509

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

  securities $1,922,211 · other assets $0

• 7c · Gain or loss

  securities -$582,145 · other assets $9,509

• 7d · Net gain or loss

  total -$572,636 · excluded -$572,636

• 8a · Fundraising events: gross income

  $262,554

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

  $71,650

• 8b · Fundraising events: direct expenses

  $219,367

• 8c · Net income from fundraising events

  total $43,187 · excluded $43,187

• 10a · Gross sales of inventory

  $79,662

• 10b · Cost of goods sold

  $63,371

• 10c · Net income from sales of inventory

  total $16,291 · related or exempt $16,291

• 11a · Other revenue: OTHER REVENUE

  total $34,566 · excluded $34,566

• 11b · Other revenue: REFUNDS & REBATES

  total $17,355 · excluded $17,355

• 11c · Other revenue: INSURANCE SETTLEMENTS

  total $3,000 · excluded $3,000

• 11d · All other revenue

  total $124 · excluded $124

• 11e · Other revenue, total

  $55,045

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $2,982,085 · program services $2,982,085

• 5 · Compensation of officers, directors and key employees

  total $3,239,239 · program services $998,301 · management and general $1,780,045 · fundraising $460,893

• 7 · Other salaries and wages

  total $12,485,452 · program services $10,130,678 · management and general $1,930,385 · fundraising $424,389

• 8 · Pension plan contributions

  total $919,462 · program services $768,659 · management and general $124,038 · fundraising $26,765

• 9 · Other employee benefits

  total $1,415,596 · program services $1,161,794 · management and general $216,936 · fundraising $36,866

• 10 · Payroll taxes

  total $1,116,507 · program services $807,492 · management and general $250,373 · fundraising $58,642

• 11b · Fees: legal

  total $100,308 · management and general $100,308

• 11c · Fees: accounting

  total $54,550 · management and general $54,550

• 11f · Fees: investment management

  total $35,000 · management and general $35,000

• 11g · Fees: other

  total $42,231 · program services $35,306 · management and general $6,925

• 13 · Office expenses

  total $513,206 · program services $50,673 · management and general $316,355 · fundraising $146,178

• 14 · Information technology

  total $383,370 · program services $13,031 · management and general $368,979 · fundraising $1,360

• 16 · Occupancy

  total $457,029 · program services $382,551 · management and general $64,548 · fundraising $9,930

• 17 · Travel

  total $8,101 · program services $1,281 · management and general $1,926 · fundraising $4,894

• 20 · Interest

  total $922,137 · program services $758,039 · management and general $92,994 · fundraising $71,104

• 22 · Depreciation, depletion and amortization

  total $3,986,027 · program services $3,346,431 · management and general $319,798 · fundraising $319,798

• 23 · Insurance

  total $382,165 · program services $267,515 · management and general $99,363 · fundraising $15,287

• 24a · Other expenses: STUDENT SERVICES

  total $925,263 · program services $925,263

• 24b · Other expenses: AUXILIARY PROGRAM

  total $852,298 · program services $800,187 · management and general $52,111

• 24c · Other expenses: INSTRUCTIONAL EXPENSES

  total $331,518 · program services $331,380 · management and general $138

• 24d · Other expenses: REPAIRS AND MAINTENANCE

  total $282,966 · program services $237,692 · management and general $22,637 · fundraising $22,637

• 24e · All other expenses

  total $517,230 · program services $288,683 · management and general $217,442 · fundraising $11,105

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,591,744 · end of year $1,389,345

• 2 · Savings and temporary cash investments

  beginning of year $15,087,321 · end of year $12,655,024

• 3 · Pledges and grants receivable

  beginning of year $1,777,014 · end of year $751,301

• 4 · Accounts receivable

  beginning of year $2,128,376 · end of year $1,134,089

• 8 · Inventories for sale or use

  beginning of year $33,082 · end of year $30,343

• 9 · Prepaid expenses and deferred charges

  beginning of year $234,931 · end of year $125,667

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

  $128,588,805

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

  $26,944,894

• 10c · Land, buildings and equipment, net

  beginning of year $102,390,535 · end of year $101,643,911

• 11 · Investments: publicly traded securities

  beginning of year $15,856,133 · end of year $22,731,640

• 12 · Investments: other securities

  beginning of year $33,029 · end of year $23,423

• 15 · Other assets

  beginning of year $231,861 · end of year $206,057

• 17 · Accounts payable and accrued expenses

  beginning of year $5,866,706 · end of year $3,246,286

• 19 · Deferred revenue

  beginning of year $7,585,087 · end of year $7,251,063

• 23 · Secured mortgages and notes payable

  beginning of year $26,400,694 · end of year $25,283,641

• 25 · Other liabilities

  beginning of year $149,940 · end of year $50,000

• 27 · Net assets without donor restrictions

  beginning of year $95,313,595 · end of year $96,484,252

• 28 · Net assets with donor restrictions

  beginning of year $5,048,004 · end of year $8,375,558

The filer's explanations (Part III)

PART I, LINE 1A

ACCORDING TO THE CONTRACT, AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE SCHOOL, THE SCHOOL PROVIDES HOUSING ALLOWANCE TO THE HEAD OF SCHOOL DUNCAN LYON. IT IS TAXABLE TO THE INDIVIDUAL AND IS REPORTED ON SCH J, PART II, COLUMN (B)(III). THE SCHOOL REIMBURSES THE FORMER HEAD OF SCHOOL DAVID R. TROWER FOR THE COST OF HIS DUES FOR CLUB MEMBERSHIP TO THE UNION CLUB AS PER HIS CONTRACT. SOCIAL CLUB DUES ARE NON TAXABLE BY VIRTUE OF BEING A WORKING CONDITION FRINGE UNDER IRC SECTION 132. THE HEAD OF SCHOOL USES THE MEMBERSHIP EXCLUSIVELY FOR SCHOOL PURPOSES.

PART I, LINE 4B

FORMER HEAD OF SCHOOL DAVID R. TROWER, PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN 457(F). THE SCHOOL CONTRIBUTED $50,000 TO HIS 457(F) PLAN IN 2022. DUNCAN LYON, HEAD OF SCHOOL, PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN 457(F). THE SCHOOL CONTRIBUTED $50,000 TO THE 457(F) PLAN IN 2022. FORMER HEAD OF SCHOOL DAVID R. TROWER RECEIVED IN 2022 A DISTRIBUTION OF HIS 457(F) PLAN IN THE AMOUNT OF $158,065.81. THIS DISTRIBUTION WAS TAXABLE AND INCLUDED IN HIS 2022 FORM W-2, BOX 5. THIS DISTRIBUTION WAS REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III) AND ALSO REPORTED IN COLUMN (F) AS COMPENSATION IN COLUMN (B) REPORTED AS DEFERRED ON PRIOR FORM 990.