2024-02-05T12:22:07-06:00 2023-06-30 823736106 POZERSKI HATCH & COMPANY 100 LEDGEWOOD PLACE SUITE 304 ROCKLAND MA 02370 990 2022-07-01 042620156 FALMOUTH ACADEMY INC FALM 5084579696 7 HIGHFIELD DRIVE FALMOUTH MA 025402345 CARMEN DISANTO DIRECTOR OF FINANCE AND OPERATIONS 5084579696 2024-02-05 1 CARMEN DISANTO 999009999 0 TRACI L POZERSKI CPA P00415905 7814801430 2024-02-05 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z CARMEN DISANTO 7 HIGHFIELD DRIVE FALMOUTH MA 025402345 9602578 0 X FALMOUTHACADEMY.ORG X 1977 MA HARNESSING THE POWER OF INSPIRED LEARNING IN A WORLD-RENOWNED SCIENTIFIC AND VIBRANT ARTISTIC COMMUNITY, FALMOUTH ACADEMY EMBOLDENS EACH STUDENT TO TAKE CREATIVE AND INTELLECTUAL RISKS TO CONFIDENTLY ENGAGE THE CHALLENGES OF OUR TIMES. 19 18 100 19 0 0 883009 1895826 6979486 7117309 4891288 178352 24973 52265 12778756 9243752 1399508 1548763 0 0 4654221 4799778 0 0 571886 1967684 2253067 8021413 8601608 4757343 642144 23147800 24502554 1760822 1912608 21386978 22589946 HARNESSING THE POWER OF INSPIRED LEARNING IN A WORLD-RENOWNED SCIENTIFIC AND VIBRANT ARTISTIC COMMUNITY, FALMOUTH ACADEMY EMBOLDENS EACH STUDENT TO TAKE CREATIVE AND INTELLECTUAL RISKS TO CONFIDENTLY ENGAGE THE CHALLENGES OF OUR TIMES. 0 0 5796818 1548763 6763360 THE ACADEMY'S PRIMARY MISSION IS THE EDUCATION OF STUDENTS ENROLLED IN GRADES 7 THROUGH 12. DURING THE CURRENT YEAR THE ACADEMY HAD ENROLLED 196 STUDENTS. 209259 310048 FALMOUTH ACADEMY OFFERS A SUMMER PROGRAM FOR STUDENTS OF ALL AGES AND SKILL LEVELS INVOLVING ACTIVITIES IN THE ARTS, SCIENCE AND ROBOTICS, ATHLETICS, LANGUAGES AND OUTDOOR ACTIVITIES. THE COURSES USUALLY LAST A WEEK AND RUN FOR SIX WEEKS FROM LATE JUNE 2022 - AUGUST 2022. 6006077 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 35 0 1 100 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X CARMEN DISANTO 5084579696 7 HIGHFIELD DRIVE FALMOUTH MA 02540 LUKE MCCABE TRUSTEE/VICE CHAIR 2.00 X X 0 0 0 MEGAN ENGLISH BRAGA TRUSTEE/BOARD CHAIR 2.00 X X 0 0 0 BENJAMIN BAUM TRUSTEE 2.00 X 0 0 0 HENRIK GULMANN TRUSTEE/TREASURER 2.00 X X 0 0 0 JOAN O HOLDEN TRUSTEE/SECRETARY 2.00 X X 0 0 0 KENNETH ARMSTEAD TRUSTEE 2.00 X 0 0 0 RICHARD HEYWOOD TRUSTEE 2.00 X 0 0 0 MEGAN STARR TRUSTEE 2.00 X 0 0 0 PETER JEFFREY TRUSTEE 2.00 X 0 0 0 NICHOLAS LOWELL TRUSTEE 2.00 X 0 0 0 ANDREW KINGMAN TRUSTEE 2.00 X 0 0 0 ROBERT MUNIER TRUSTEE 2.00 X 0 0 0 ANDREW BOWEN TRUSTEE 2.00 X 0 0 0 MINDY TODD TRUSTEE 2.00 X 0 0 0 SHEILA GIANCOLA TRUSTEE 2.00 X 0 0 0 SCOTT BROWN TRUSTEE 2.00 X 0 0 0 JOHN HEYL TRUSTEE 2.00 X 0 0 0 CYNTHIA FELDMANN TRUSTEE 2.00 X 0 0 0 BETH COLT TRUSTEE 2.00 X 0 0 0 MATTHEW GREEN HEAD OF SCHOOL 40.00 X 291068 0 44255 CARMEN DISANTO DIR. OF FINANCE AND OPERATIONS 40.00 X 132817 0 26269 423885 0 70524 2 0 1 0 LUCINI BUS LINES PO BOX 86 WEST BRIDGEWATER MA 02379 213524 COMMUNITY COUNSELING SERVICES PO BOX 824885 PHILADELPHIA PA 19182 116749 2 51047 1844779 737452 1895826 TUITION AND FEES/OTHER 611600 6807261 6807261 SUMMER PROGRAMS 611600 310048 310048 7117309 259344 259344 175628 212719 43901 -37091 -43901 -80992 -43901 -37091 154471 51047 102206 52265 52265 9243752 7073408 0 274518 1548763 1548763 410859 325951 84908 3137499 2067860 864023 205616 249457 145375 83658 20424 758106 441798 254238 62070 243857 142111 81780 19966 41596 41596 31000 31000 42323 42323 29452 10700 18752 49815 49815 46140 46140 113508 113508 255056 255056 533116 506460 21325 5331 143605 136425 5744 1436 REPAIRS & MAINTENANCE 310970 295421 12439 3110 SUPPLIES 194322 48698 106884 38740 CAMPAIGN EXPENSES 128490 128490 INSTRUCTION EXPENSE 87110 87110 246564 156977 87792 1795 8601608 6006077 2023645 571886 617224 981754 3031356 1074418 3000 108873 3438 2354 101282 114924 17804986 7146671 11012106 10658315 8379394 11561916 23147800 24502554 681990 715528 1078832 1197080 1760822 1912608 X 16549070 16254134 4837908 6335812 21386978 22589946 23147800 24502554 642144 560824 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8379394 134420 681695 333593 8861916 9460902 402 -829795 252115 8379394 8085815 40040 1666846 331799 9460902 8342337 19343 161768 437633 8085815 7913107 105208 554176 230154 8342337 0.44430 0.55570 0 0 250600 250600 15386898 5668462 9718436 939929 667818 272111 855110 533846 321264 372449 276545 95904 10658315 8084997 560821 -1677253 -1116432 9201429 42323 42323 9243752 6882032 0 6882032 42323 1677253 1719576 8601608 PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIP AID -1,548,763. CAMPAIGN EXPENSES -128,490. PART XII, LINE 4B - OTHER ADJUSTMENTS: CAMPAIGN EXPENSES 128,490. SCHOLARSHIP AID 1,548,763. PART V, LINE 4: THE ACADEMY'S ENDOWMENT CONSISTS OF APPROXIMATELY 5 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED FUNDS AND FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENT. AS REQUIRED BY THE US GENERALLY ACCEPTED ACCOUNTING PRINCIPALS, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENT ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE ACADEMY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A REASONABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. THE ENDOWMENT ASSETS ARE INVESTED WITH AN OBJECTIVE OF PRESERVING THE LONG-TERM, REAL PURCHASING POWER OF THE ASSETS WHILE PROVIDING A RELATIVELY PREDICTABLE AND GROWING STREAM OF ANNUAL DISTRIBUTION IN SUPPORT OF THE INSTITUTION. THE ENDOWMENT IS INVESTED IN A BALANCED PORTFOLIO OF EQUITIES AND FIXED INCOME INVESTMENTS. THE ACADEMY HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION, AN AMOUNT NOT TO EXCEED 3% OF ITS ENDOWMENT FUND'S AVERAGE FAIR VALUE OVER THE TRAILING TWELVE QUARTERS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE NONDISCRIMINATION POLICY IS POSTED ON FALMOUTH ACADEMY'S WEBSITE HOMEPAGE. ANNUAL AUCTION 165613 51047 114566 4918 14155 6996 CONCERT FUNDRAISING 39905 39905 892 372 16950 6876 205518 51047 154471 5810 14527 16950 13872 51159 103312 0 FINANCIAL AID 108 1189195 TUITION REMISSION 12 359568 PART I, LINE 2- FINANCIAL AID GRANTS ARE APPLIED TO EACH INDIVIDUAL STUDENT'S ACCOUNT AS A REDUCTION IN THE TUITION BALANCE. ONCE THE PARENT/GAURDIAN ACCEPTS THE GRANT, THE WRITTEN DOCUMENT IS SIGNED BY THE PARENT/GAURDIAN AND THE SCHOOL. THE FIRST HALF OF THE FINANCIAL AID IS GIVEN TO THE STUDENT IN AUGUST AND THE SECOND HALF IS GIVEN IN DECEMBER. THE AMOUNT THE STUDENT HAS ACCEPTED IS TRACKED THROUGHOUT THE YEAR. FALMOUTH ACADEMY OFFERS THREE PAYMENT PLANS: PAYMENT IN FULL, TWO PAYMENTS IN JULY AND DECEMBER, OR MONTHLY JULY-APRIL. FINANCIAL AID IS SPREAD ACROSS THE PAYMENT PLAN ACCORDINGLY. FORM 990, SCHEDULE I, PART III, LINE A- FINANCIAL AID IS DETERMINED BY THE FAMILY'S NEED. FALMOUTH ACADEMY USES SCHOOL AND STUDENT SERVICES BY THE NATIONAL ASSOCIATION OF INDEPENDANT SCHOOLS (SSS BY NAIS) AS A BENCHMARK. THE FAMILY FILLS OUT A PERSONAL FINANCIAL STATEMENT AND UPLOADS TAX INFORMATION WITH THEIR APPLICATION THROUGH SSS BY NAIS. A COMMITTEE CONSISTING OF ADMISSIONS, THE BUSINESS MANAGER, HEAD OF SCHOOL, AND FACULTY MEMBERS REVIEWS THE APPLICATIONS AND OFFER ASSISTANCE BASED ON NEED. X 1 1 X 0 0 0 0 0 0 0 1 0 MATTHEW GREEN HEAD OF SCHOOL 228668 0 32400 0 30000 0 24089 0 20166 0 335323 0 0 0 CARMEN DISANTO DIR. OF FINANCE AND OPERATIONS 132817 0 0 0 0 0 10965 0 15304 0 159086 0 0 0 PART I, LINE 1A- THE HEAD OF SCHOOL RECEIVES A HOUSING ALLOWANCE. THE HOUSING ALLOWANCE IS INCLUDED IN HIS FORM W-2. PART I, LINE 7- THE HEAD OF SCHOOL RECEIVED A BONUS WHICH WAS DETERMINED BY THE BOARD OF TRUSTEES. AVAILABLE UPON REQUEST BOARD MEMBER 10000 MERIT SCHOLARSHIP MERIT SCHOLARSHIP X 5 697136 AVERAGE TRADING PRICE X AUCTION ITEMS FOR FUNDRAISER 196 40316 0 1 0 PART I, LINE 32B: FALMOUTH ACADEMY RESERVES THE RIGHT TO REFUSE TO ACCEPT A GIFT, OR TO REFUSE TO ENTER INTO ANY GIFT AGREEMENT WHICH FALMOUTH ACADEMY DEEMS NOT TO BE IN THE DONOR'S OR THE ACADEMY'S BEST INTEREST. THE BOARD OF TRUSTEES SHALL APPROVE STANDARDS FOR ACCEPTANCE OF ALL GIFTS. IF A DONOR WISHES TO PLACE A RESTRICTION ON A GIFT, NOT PREVIOUSLY IDENTIFIED AS A FUND-RAISING PRIORITY, OR AS CONFIRMED BY THE COMMITTEE, THE GIFT SHALL NOT BE ACCEPTED WITHOUT THE APPROVAL OF THE DIRECTOR OF DEVELOPMENT AND BOARD OF TRUSTEES. IF A DONOR WISHES TO RECEIVE SPECIAL RECOGNITION FOR A GIFT, IT WILL REQUIRE THE APPROVAL OF THE DIRECTOR OF DEVELOPMENT AND THE BOARD OF TRUSTEES. THE HEAD OF SCHOOL SIGNS GIFT/GRANT AGREEMENTS. FORM 990, PART VI, SECTION B, LINE 11B ONCE THE FORM 990 IS PREPARED, IT IS SCHEDULED FOR DISCUSSION AT THE NEXT FINANCE COMMITTEE MEETING. THE FINANCE COMMITTEE WILL REVIEW AND APPROVE THE RETURN FOR FILING. COPIES OF THE FORM 990 WILL THEN BE PROVIDED TO THE TRUSTEES FOR APPROVAL BEFORE FILING. THE FORM 990 IS THEN SIGNED BY THE AUTHORIZED INDIVIDUAL. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL'S CONFLICT OF INTEREST POLICY APPLIES TO ALL TRUSTEES OF THE BOARD, OFFICERS, AND KEY EMPLOYEES. EACH INDIVIDUAL MUST DISCLOSE ANNUALLY ANY POTENTIAL CONFLICTS. THE COMMITTEE OF TRUSTEES REVIEWS EACH PROPOSED TRANSACTION THAT MIGHT GIVE RISE TO A CONFLICT. IF A CONFLICT IS DETERMINED TO EXIST, THE INDIVIDUAL WILL DISCLOSE ALL MATERIAL FACTS AT THE BOARD MEETING AND THEN LEAVE THE MEETING WHILE THE CONFLICT IS DISCUSSED AND VOTED UPON. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF TRUSTEES MEETS ON AN ANNUAL BASIS TO EVALUATE THE HEAD OF SCHOOL'S PERFORMANCE. THE BOARD CHAIR, FINANCE CHAIR, AND EXECUTIVE COMMITTEE NEGOTIATE THE COMPENSATION FOR THE HEAD OF SCHOOL AND AN ATTORNEY REVIEWS THE AGREEMENT TO MAKE SURE THE CONTRACT DOES NOT VIOLATE ANY LAWS. THE DELIBERATION AND DECISIONS ARE DOCUMENTED. THIS PROCESS WAS LAST FOLLOWED IN JUNE 2022 TO SET THE COMPENSATION FOR THE HEAD OF SCHOOL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C- THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.