Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $2,337,204

• 1g · Noncash contributions included above

  $268,887

• 2a · Program service revenue: TUITION

  total $41,605,332 · related or exempt $41,605,332

• 2b · Program service revenue: SUMMER PROGRAMS

  total $819,587 · related or exempt $819,587

• 2c · Program service revenue: STAY & PLAY

  total $108,799 · related or exempt $108,799

• 2d · Program service revenue: AFTER SCHOOL COURSES

  total $91,786 · related or exempt $91,786

• 2e · Program service revenue: MUSIC LESSONS

  total $47,286 · related or exempt $47,286

• 2f · All other program service revenue

  total $57,732 · related or exempt $57,732

• 3 · Investment income

  total $2,474,319 · excluded $2,474,319

• 6a · Gross rents

  real property $610,982

• 6b · Less rental expenses

  real property $918,903

• 6c · Rental income or loss

  real property -$307,921

• 6d · Net rental income or loss

  total -$307,921 · excluded -$307,921

• 7a · Gross sales of assets other than inventory

  securities $6,122,173

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

  securities $5,623,272

• 7c · Gain or loss

  securities $498,901

• 7d · Net gain or loss

  total $498,901 · excluded $498,901

• 10a · Gross sales of inventory

  $114,295

• 10b · Cost of goods sold

  $52,378

• 10c · Net income from sales of inventory

  total $61,917 · excluded $61,917

• 11a · Other revenue: OTHER REVENUE

  total $34,993 · related or exempt $34,993

• 11e · Other revenue, total

  $34,993

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $6,289,888 · program services $6,289,888

• 5 · Compensation of officers, directors and key employees

  total $852,152 · program services $253,900 · management and general $522,082 · fundraising $76,170

• 6 · Compensation of disqualified persons

  total $6,506 · management and general $6,506

• 7 · Other salaries and wages

  total $23,564,197 · program services $19,388,721 · management and general $3,190,218 · fundraising $985,258

• 8 · Pension plan contributions

  total $1,790,714 · program services $1,452,803 · management and general $257,533 · fundraising $80,378

• 9 · Other employee benefits

  total $6,014,246 · program services $4,879,185 · management and general $778,063 · fundraising $356,998

• 10 · Payroll taxes

  total $1,710,608 · program services $1,395,108 · management and general $241,486 · fundraising $74,014

• 11b · Fees: legal

  total $87,150 · management and general $87,150

• 11c · Fees: accounting

  total $44,000 · management and general $44,000

• 11e · Fees: professional fundraising services

  total $4,000 · fundraising $4,000

• 11f · Fees: investment management

  total $115,467 · management and general $115,467

• 11g · Fees: other

  total $90,714 · management and general $90,714

• 12 · Advertising and promotion

  total $95,431 · program services $5,802 · management and general $89,629

• 13 · Office expenses

  total $1,919,111 · program services $1,160,457 · management and general $532,363 · fundraising $226,291

• 14 · Information technology

  total $1,088,074 · program services $969,150 · management and general $91,435 · fundraising $27,489

• 16 · Occupancy

  total $731,721 · program services $636,740 · management and general $70,470 · fundraising $24,511

• 17 · Travel

  total $235,184 · program services $167,998 · management and general $58,927 · fundraising $8,259

• 19 · Conferences, conventions and meetings

  total $32,039 · program services $32,039

• 20 · Interest

  total $776,926 · program services $776,926

• 22 · Depreciation, depletion and amortization

  total $2,549,349 · program services $2,389,316 · management and general $118,734 · fundraising $41,299

• 23 · Insurance

  total $470,825 · program services $406,243 · management and general $47,916 · fundraising $16,666

• 24a · Other expenses: REPAIRS AND MAINTENANCE

  total $1,754,544 · program services $1,596,656 · management and general $117,143 · fundraising $40,745

• 24b · Other expenses: PROF. DEVELOPMENT

  total $334,829 · program services $276,205 · management and general $58,624

• 24c · Other expenses: UNCOLLECTIBLE PROMISES

  total $95,686 · management and general $95,686

• 24d · Other expenses: AUXILIARY SUPPLIES

  total $92,512 · program services $92,512

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,799,660 · end of year $3,862,618

• 2 · Savings and temporary cash investments

  end of year $1,649,141

• 3 · Pledges and grants receivable

  beginning of year $1,395,114 · end of year $816,113

• 4 · Accounts receivable

  beginning of year $24,688,452 · end of year $26,691,603

• 7 · Other notes and loans receivable

  beginning of year $4,929 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $122,397 · end of year $163,247

• 9 · Prepaid expenses and deferred charges

  beginning of year $398,563 · end of year $576,328

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

  $95,914,529

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

  $38,569,536

• 10c · Land, buildings and equipment, net

  beginning of year $57,539,240 · end of year $57,344,993

• 11 · Investments: publicly traded securities

  beginning of year $89,197,024 · end of year $94,671,859

• 15 · Other assets

  beginning of year $1,070,771 · end of year $1,233,433

• 17 · Accounts payable and accrued expenses

  beginning of year $3,465,932 · end of year $3,272,926

• 19 · Deferred revenue

  beginning of year $33,516,611 · end of year $35,608,191

• 20 · Tax-exempt bond liabilities

  beginning of year $19,279,138 · end of year $19,136,876

• 25 · Other liabilities

  beginning of year $1,607,035 · end of year $1,112,259

• 27 · Net assets without donor restrictions

  beginning of year $62,390,400 · end of year $63,744,384

• 28 · Net assets with donor restrictions

  beginning of year $58,957,034 · end of year $64,134,699

The filer's explanations (Part III)

PART I, LINE 1A

HOUSING IS PROVIDED TO THE HEAD OF SCHOOL (HOS), ASSISTANT HOS FOR FINANCE & OPERATIONS, AND THE CHIEF INFORMATION OFFICER, AS THE BOARD OF TRUSTEES FEELS THE RESPONSIBILITIES OF THESE POSITIONS REQUIRE A CONTINUOUS PRESENCE ON CAMPUS. THIS HOUSING MEETS THE INTERNAL REVENUE SERVICE GUIDELINES FOR EXCLUSION FROM TAXABLE INCOME. HOUSE CLEANING IS PROVIDED TO THE HOS AND ASSISTANT HOS FOR FINANCE & OPERATIONS AS PART OF A CONTINUOUS MAINTENANCE PROGRAM FOR THE HOUSES AND IS NOT INCLUDED IN TAXABLE INCOME.

PART I, LINE 4B

PAUL J. STELLATO, FORMER HEAD OF SCHOOL - $284,101 DISTRIBUTION KELLEY NICHOLSON- FLYNN, HEAD OF SCHOOL - $20,000 CONTRIBUTION

PART I, LINE 7

TWO BONUSES WERE PAID DURING THE YEAR. THE FIRST WAS APPROVED BY THE HEAD OF SCHOOL, WHO DID NOT PARTICIPATE IN THIS BONUS. THE SECOND WAS THE HEAD OF SCHOOL'S SIGNING BONUS THAT WAS APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. BOTH BONUSES WERE INCLUDED IN TAXABLE COMPENSATION AND ARE REPORTED IN SCHEDULE J, PART II, COLUMN (B).

PART I, LINE 8

COMPENSATION FOR KELLEY NICHOLSON-FLYNN, HEAD OF SCHOOL, IS SUBJECT TO AN INITIAL WRITTEN EMPLOYMENT AGREEMENT FOR THE PERIOD JULY 1, 2023 TO JUNE 30, 2027.