2024-02-26T13:09:01-06:00 2023-06-30 010523282 Berry Dunn McNeil & Parker LLC 2211 Congress St Portland ME 04102 990 2022-07-01 030181215 St Johnsbury Academy STJO 8027488171 1000 Main Street St Johnsbury VT 05819 Dr Sharon Howell Headmaster 8027488171 2024-02-23 1 Dr Sharon Howell 999009999 1 Melissa Magoon CPA P01712842 2077752387 2024-02-23 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Dr Sharon Howell 1000 Main Street St Johnsbury VT 05819 48025434 0 X www.stjohnsburyacademy.org X 1842 VT Founded in 1842, St. Johnsbury Academy is a comprehensive independent private high school widely recognized as an institution that fosters character, academic excellence, and civic responsibility in its students. 18 18 442 125 83277 68766 3604988 1977508 29693417 30655485 1021438 2074571 370429 333333 34690272 35040897 2823026 3053327 0 0 19630107 20261908 0 0 667868 10942354 11509091 33395487 34824326 1294785 216571 70804558 73844060 12680682 13693132 58123876 60150928 X This is the mission of St. Johnsbury Academy, a diverse, comprehensive, and independent educational community grounded by our traditions, our deep optimism regarding young people, and our commitment to academic excellence: to teach good character by modeling and fostering compassion, respect, responsibility, and integrity. To foster a love for learning by challenging individuals to pursue knowledge, creativity, and intellectual self-reliance. To encourage each individual to understand his or her relationships, rights, and responsibilities within a community that is itself part of the larger world. 0 0 29667936 3053327 30214959 St. Johnsbury Academy offers a comprehensive high school program serving students in grades 9-12 and a postgraduate year. St. Johnsbury Academy offers a rigorous, wide-ranging, standards-based curriculum designed to meet the needs and interests of a wide range of abilities, career goals, and interests. St. Johnsbury Academy served 950 students (including boarders) in the day school program which includes standard high school curriculum, special education, fine arts, technical education and athletic programs. The school day consists of a five block daily schedule with 70 minute courses. Scholarships are provided to students from around the world including throughout the United States and North America, Central America and the Caribbean, Russia and the Newly Independent States, East Asia, Europe, and South America. St. Johnsbury Academy offers a boarding program on our campus to 190 students from across the country and the world, creating a global community. The Academy has ten dormitories on the campus, six for boys and four for girls. Different in size and personality, each dorm houses faculty advisors, their families, and students. The Academy has a comprehensive resident life curriculum that complements our day school programs. Students are able to take advantage of weekend campus activities as well as travel opportunities throughout the semester. Our boarding program also includes an English as a second language program for students who require additional instruction as well as learning support programs for resident students. Expenses presented on this schedule do not reflect an inclusion of general and administrative expenses that are necessary for the school's day to day operations. 665854 440526 St. Johnsbury Academy offers a summer advanced placement institute for secondary teachers. The course covers the AP exam including test development reading, new directions within the AP curriculum, developing successful AP assignments and collaborative teaching approaches as well as workshops for experienced AP teachers. St. Johnsbury Academy served over 400 teachers during the past year. Expenses presented on this schedule do not reflect an inclusion of general and administrative expenses that are necessary for the school's day to day operations. 30333790 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 69 0 1 442 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 18 18 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X Carol Lyon 8027487703 1000 Main Street St Johnsbury VT 05819 Cathy Judd-Stein President 5.00 X X 0 0 0 Robert M Fairbanks Esq Vice President 2.00 X X 0 0 0 Peter Crosby Treasurer 2.00 X X 0 0 0 Peter Hammer Secretary 2.00 X X 0 0 0 Noble Allen Trustee 1.00 X 0 0 0 Bruce E Buxton Trustee 1.00 X 0 0 0 Martha Cavanaugh Trustee 1.00 X 0 0 0 Tim Clouatre Trustee 1.00 X 0 0 0 Craig S Douglas Trustee 1.00 X 0 0 0 Jenis Ellingwood Trustee 1.00 X 0 0 0 Frank Empsall Trustee 1.00 X 0 0 0 Jesse Laflamme Trustee 1.00 X 0 0 0 Erin Mayo Trustee 1.00 X 0 0 0 Jamie Murphy Trustee 1.00 X 0 0 0 Kathy A Silloway Trustee 1.00 X 0 0 0 Paul Simpson Trustee 1.00 X 0 0 0 Edward R Zuccaro Esq Trustee 1.00 X 0 0 0 Nancy Usher Goodrich Trustee 1.00 X 0 0 0 John S Hall Past Trustee 1.00 X 0 0 0 Sharon L Howell Headmaster 80.00 X 382490 0 76220 Carol L Lyon Chief Financial Officer 70.00 X 157505 0 28013 Tammi S Cady Assistant Head for Advancement 70.00 X 133061 0 21631 John Lenzini Assoc Headmaster 70.00 X 106861 0 40093 James T Ryan Dean of Resident Life 70.00 X 113340 0 48250 Patrick Guckin CTE Director 70.00 X 105976 0 40026 Beth A Choiniere Past Assistant Head for Campus Life 70.00 X 204920 0 11394 1204153 0 265627 11 0 1 0 Aladdin Food Management Services LLC 16567 Collections Center Drive Chicago IL 60693 Food Service 1071612 Stewart Construction 24 Pearl Street Essex Junction VT 05452 Construction Materials & Labor 500607 Opal Global LLC 137 High Street Belfast ME 04915 Architectural Services 314296 Breadloaf Corporation 1293 Route 7 South Middlebury VT 05753 Construction Materials & Labor 133809 Vermont Mechanical Inc 4050 Williston Rd Ste 215 South Burlington VT 05403 Boiler Installation 130208 5 1977508 63809 1977508 Day School Tuition 611600 19666281 19666281 Res School Tuition 611600 8421374 8421374 Other Educ. Prog. 611600 1486845 1486845 Miscellaneous Income 611600 577275 577275 Field House & recreation Activity 611600 503710 503710 30655485 1458517 83277 1375240 333333 333333 13011580 589011 12690458 294079 321122 294932 616054 616054 35040897 30655485 83277 2324627 3053327 3053327 644230 548458 95772 14474411 13079791 1088048 306572 649121 608347 25722 15052 3407578 2857726 486372 63480 1086568 1025374 38409 22785 78158 6678 71480 102764 102764 80648 80648 99474 99474 1076860 316290 731856 28714 130996 62023 63438 5535 306190 132114 116043 58033 2726592 2645018 73098 8476 405570 299627 85437 20506 223319 223319 2101356 2101356 374205 374205 Food Services 2489381 2471226 18155 Student Activities and 1038396 1010175 4401 23820 Miscellaneous 230698 67194 162536 968 Professional Developmen 44484 44484 34824326 30333790 3822668 667868 X 339885 369300 5111108 3977256 88632 874641 1497383 1030000 1019629 61070 58977 188579 581204 66056287 31853305 34762071 34202982 25770408 28840974 2576202 2821061 90594 386662 70804558 73844060 1158304 1010304 1869651 2754609 8023064 7806704 1629663 2121515 12680682 13693132 X 45125633 45782948 12998243 14367980 58123876 60150928 70804558 73844060 X 216571 1450607 359874 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 80648 80648 0 Part II-B, Line 1: Hired a professional lobbying firm to monitor on behalf of the Academy legislative activities related to education funding and not for profit business regulations in Vermont. 6572142 476174 771362 282686 7536992 7385599 209261 -779804 242914 6572142 5916205 97088 1592938 220632 7385599 6126139 72306 19760 302000 5916205 6074372 116555 158076 222864 6126139 0.00000 0.80450 0.19550 0 0 3364719 3364719 53188179 25168763 28019416 652637 652637 0 7951703 6031905 1919798 899049 899049 34202982 Funds held on behalf of others 343149 Obligation under split-interest agreements 25373 Early Retirement Benefit Obligation 1184561 Deferred Compensation Payable 270360 Operating lease liabilities 298072 2121515 X 33705134 1450607 6557 359874 1817038 31888096 99474 3053327 3152801 35040897 31678082 6557 6557 31671525 99474 3053327 3152801 34824326 Part V, Line 4: The Academy manages its endowment funds, including donor restricted and board designated endowments, in accordance with the laws of the state of Vermont, specifically the Uniform Prudent Management of Institutional Funds Act. Accordingly, the Academy has adopted investment and spending policies for endowment assets that are reviewed annually and attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of the endowment assets. The Academy has a policy of appropriating for distribution each year an annual draw from its endowment fund. Each year the investment committee reviews the present circumstances and future plans for the Academy, and recommends a drawing figure based on both near and longer term considerations. The spending rate calculation weights inflation at 70% and current endowment value at 30%. The policy will allow the spending rate to rise following periods of low returns and fall following periods of high returns, but maintain close to a 4.5% spending rate over time. This is consistent with the Academy's objective of maintaining the purchasing power of the endowment assets held in perpetuity or for a specified term, as well as providing additional real growth through new gifts and investment return. The spending is to be used first in accordance with donor restrictions, if any, and then for operations, support of capital expenditures investments, scholarships to students, or other board-designated purposes. Part X, Line 2: The Academy accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. The Academy has identified its tax status as a tax-exempt entity and its determination of which activities are related and unrelated as its only significant tax positions; however, the Academy has determined that such tax positions do not result in an uncertainty requiring recognition. The Academy is not currently under examination by any taxing jurisdictions. The Academy's federal and state tax returns are generally open for examination for three years following the date filed. Part XI, Line 2d - Other Adjustments: Change in Split Interest Agreement 359,874. Part XI, Line 4b - Other Adjustments: Financial Aid 3,053,327. Part XII, Line 4b - Other Adjustments: Financial Aid 3,053,327. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Nondiscriminatory policy is communicated in all relevant media. Schedule E, Part I, Line 6 St. Johnsbury Academy participates in the state of Vermont child nutrition program and received a fixed reimbursement for free and reduced breakfast and lunch eligible students as well as commodities to supplement the foodservice program. Central America and the Caribbean Foreign financial investment - hedge fund 1392563 0 0 0 0 0 0 1392563 0 1392563 1 0 1 0 0 0 Part III Accounting Method: 1 Scholarships to students - details available upon request 122 3001135 Awards to graduating students 56 52192 Part I, Line 2: Assistance to individuals is in the form of financial aid, grants, scholarships and tuition discounts awarded to students. Assistance for SJA tuition is applied directly to the student's account balance. Additionally, awards are also given to students at graduation from various endowments. Monitoring of these funds varies based on the terms of the endowment. X X 1 1 X X X X 1 1 0 0 0 0 0 1 0 Sharon L Howell Headmaster 269750 0 83300 0 29440 0 14019 0 62201 0 458710 0 0 0 Beth A Choiniere Past Assistant Head for Campus Life 68330 0 0 0 136590 0 3011 0 8383 0 216314 0 0 0 Carol L Lyon Chief Financial Officer 145454 0 10000 0 2051 0 7452 0 20561 0 185518 0 0 0 James T Ryan Dean of Resident Life 108609 0 4000 0 731 0 5243 0 43007 0 161590 0 0 0 Tammi S Cady Assistant Head for Advancement 124170 0 8000 0 891 0 6209 0 15422 0 154692 0 0 0 Part I, Line 1a As a condition of employment, the headmaster and assistant headmaster reside on campus. Part I, Lines 4a-b Line 4a: Severance in the amount of $120,455.00 was paid to Beth Choiniere during the year. Line 4b: Sharon Howell, Headmaster, and Thomas Lovett, former Headmaster, both participate in a Section 457(f) plan. St. Johnsbury Academy Part I, Line 7 Sharon Howell's bonus was awarded by the compensation committee of the board of trustees. Beth Choiniere, Carol Lyon, Tammi Cady, John Cummings, and James Ryan and were awarded bonuses based on Sharon's discretion. A Vermont Education and Health Buildings Financing Agency 127154467 2021-05-20 8166893 To refinance previous bond 0 0 0 A 223963 8166893 8166893 2020 1 0 1 1 A 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 1 A 0 X 1 500 Fair Market Value X 20 Mountain Bikes with Trailer 1 44468 Invoice X Wood 1 6000 Fair Market Value X Tennis Court Repair and Resurfacing 1 3500 Invoice X Football Helmet Covers 1 2775 Invoice X Basketball uniforms 1 2480 Invoice X Cost of Ads run for SJA 1 1134 Invoice X Usage of 2 Side by Side Vehicles 1 800 Invoice X Basketball Team Shooting Shirts 1 612 Invoice X Box Out Sports Subscription 1 480 Invoice X 12 Replica Football Helmets 1 360 Invoice X 3 Jump Boxes for Volleyball Team 1 300 Invoice X Golf cart usage for the reunion weekend. 1 240 Fair Market Value X Golf cart usage for the reunion weekend. 1 120 Fair Market Value X Book for Library: "Obadiah Hunter Art" 1 40 Fair Market Value 0 1 0 Form 990, Part VI, Section A, line 2 Mr. Lee P. Hackett (Trustee, retired October 2020), Mr. Jay O. Wright (Trustee, retired December 2021), Mr. Garth Moulton and Mr. John Cummings (Key employee, retired December 2021) are each stockholders in Kingdom Development Company, Inc., an online education and economic development company. See also Schedule R for additional disclosures. Ms. Cavanaugh's husband is also stockholder and director. Mr. Wright is the former Treasurer of Kingdom Development Company, Inc. Mr. Jamie Murphy and Ms. Martha Cavanaugh's husband are each 33.33% partners in a partnership. Form 990, Part VI, Section B, line 11b Once the 990 was prepared, copies were sent to members of the full board who then had 10 days to review the document and present any questions to the audit committee, CFO, or headmaster. No objections were presented and the return was filed. Form 990, Part VI, Section B, line 12c The board of trustees reviews and signs a new conflict of interest agreement each October. Any conflicts are disclosed at that time. Form 990, Part VI, Section B, line 15 The compensation committee of the board of trustees reviews the compensation of the headmaster annually using performance measures, achievement of defined goals and a customized report purchased from NAIS that provides comparative data from other independent schools, the state of Vermont as well as national statistics. Other key employees have an annual performance appraisal by the headmaster and are compensated using survey data from NAIS, ISANNE, and the state of Vermont. Form 990, Part VI, Section C, line 19 Upon request or through guidestar.org Form 990, Part X, Line 10: Land, Buildings, and Equipment: St. Johnsbury Academy 1000 Main Street St. Johnsbury, VT 05819 EIN: 03-0181215 Section 1.263(a)-3(n) Election: St. Johnsbury Academy is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Form 990, Part XI, line 9: Change in Value of Split-Interest Agreements 359,874. New Depot Square Commercial Properties LLC 23 Ridgewood Drive St Johnsbury VT 05819 831612255 Real Estate VT N/A 0 0 Kingdom Development Company Inc 23 Ridgewood Drive St Johnsbury VT 05819 800547309 Online education and economic development VT St Johnsbury Academy C 358899 1275278 0.71790 1 Prescott W Stearns FBO St Johnsbury Academy Trust 328 H Sparta Avenue Sparta NJ 07871 466515924 Beneficial Interest in Trust NJ St Johnsbury Academy T 41394 2348498 1.00000 1 Dussault Family Legacy Trust 252 Library Road Danville VT 05873 Beneficial Interest in Trust VT St Johnsbury Academy T 385791 1.00000 1 1 0 1 1 0 1 0 0 0 0 1 0 0 0 0 0 0 1 1 Kingdom Development Company Inc D 1019629 FMV of secured bond Prescott W Stearns FBO St Johnsbury Academy Trust S 115014 Cash paid Kingdom Development Company Inc R 504696 Transfer of Cash Kingdom Development Company Inc A 80963 Interest Received