2024-03-07T14:42:07-06:00 2023-06-30 410746749 CLIFTONLARSONALLEN 29 SOUTH MAIN STREET 4TH FLOOR WEST HARTFORD CT 06107 990 2022-07-01 042178868 THE CHESTNUT HILL SCHOOL CHES 6175664394 428 HAMMOND STREET CHESTNUT HILL MA 024671229 LISA HALM DIRECTOR OF FINANCE 6175664394 2024-02-29 1 LISA HALM 999009999 0 JOHN TOSCANO P00358542 8605614000 2024-02-29 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z RODERICK MACNEAL JR ED 428 HAMMOND STREET CHESTNUT HILL MA 024671229 14508792 0 X WWW.TCHS.ORG X 1919 MA ACADEMIC EXCELLENCE IN A CHALLENGING AND SUPPORTIVE ENVIRONMENT IS THE MISSION OF THE CHESTNUT HILL SCHOOL. THE SCHOOL PROVIDES ITS STUDENTS WITH A STRONG FOUNDATION OF LEARNING SKILLS IN A TEACHING ENVIRONMENT WHICH FOSTERS SELF ESTEEM AND EMPOWERS THEM WITH ENTHUSIASM FOR AND CURIOSITY ABOUT DISCOVERING KNOWLEDGE. WITHIN AN ACTIVE COMMUNITY OF STUDENTS, FACULTY, AND FAMILIES, THE CHESTNUT HILL SCHOOL PROMOTES RESPECT BETWEEN INDIVIDUALS AND INVOLVEMENT WITH THE LARGER COMMUNITY. 17 17 198 24 23870 8082 3801101 516231 11072177 11737445 542603 386638 -6079 -10852 15409802 12629462 1798504 1869973 0 0 7282249 7098622 0 0 194180 2799915 3050157 11880668 12018752 3529134 610710 33385087 33863773 16627589 16249921 16757498 17613852 X AT THE CHESTNUT HILL SCHOOL, OUR MISSION TO EDUCATE CHILDREN IS DEEPLY ROOTED IN A COMMITMENT TO ACADEMIC EXCELLENCE, DIVERSITY, AND COMMUNITY. WE ENGAGE, CHALLENGE AND SUPPORT CHILDREN AS THEY DEVELOP THE SKILLS AND CONFIDENCE TO ACHIEVE EDUCATIONAL SUCCESS. WE NURTURE THE WHOLE CHILD THROUGH A THOUGHTFUL, BALANCED CURRICULUM. WE INTENTIONALLY BUILD A DIVERSE SCHOOL COMMUNITY, AND WE VALUE, RESPECT, AND EDUCATE OURSELVES ABOUT ITS COMPLEXITIES AND GIFTS. WE FOSTER THE GROWTH OF OUR STUDENTS SO THEY WILL BECOME RESPONSIBLE, CONTRIBUTING MEMBERS OF THE WORLD WHO STAND UP FOR THEIR BELIEFS, EXPRESS THEIR THOUGHTS, AND CARE ABOUT THE RIGHTS AND FEELINGS OF OTHERS. 0 0 7431102 1604700 9435694 THE CHESTNUT HILL SCHOOL IS A COEDUCATIONAL DAY SCHOOL FOR CHILDREN FROM BEGINNERS THROUGH SIXTH GRADE THAT FOSTERS AN INCLUSIVE COMMUNITY OF JOYFUL LEARNERS WHO THINK CRITICALLY, EMBRACE DIVERSITY, AND ACT WITH EMPATHY. THE CHESTNUT HILL SCHOOL IS GROUNDED BY THE VALUES AND GUIDING PRINCIPLES OF BELONGING, PURSUIT OF KNOWLEDGE, PERSEVERANCE, AND KINDNESS. OF 244 STUDENTS, 51% IDENTIFY AS STUDENTS OF COLOR, AND 29% RECEIVE FINANCIAL ASSISTANCE. TEACHING FACULTY: 45 TOTAL; 44% HAVE ADVANCED DEGREES. 100% OF GRADUATING SIXTH GRADERS WERE OFFERED ADMISSION TO ONE OF THEIR TOP CHOICE SCHOOLS. THE GENEROUS SUPPORT OF OUR DONORS AND VOLUNTEERS ALLOWS THE CHESTNUT HILL SCHOOL TO ACCOMPLISH MANY OF THE THINGS THAT SET IT APART FROM OTHER INDEPENDENT ELEMENTARY SCHOOLS. WE ARE ABLE TO RETAIN THE MOST QUALIFIED AND CARING FACULTY, PROVIDE A WIDE RANGE OF SPECIAL SUBJECTS AS PART OF OUR CURRICULUM, MAINTAIN BEAUTIFUL BUILDINGS AND GROUNDS, AND PROVIDE FINANCIAL ASSISTANCE TO ELIGIBLE STUDENTS. 729664 61516 1467364 THE CHESTNUT HILL SCHOOL HOLDS A SUMMER CAMP FOR CHILDREN FROM AGE 4 THROUGH HIGH SCHOOL EACH SUMMER THAT PROVIDES MEMBERS OF THE SCHOOL AND LOCAL COMMUNITY WITH A HIGH-QUALITY, AFFORDABLE OPTION FOR RECREATION AND EDUCATION DURING JULY AND AUGUST. 438932 203757 834387 THE CHESTNUT HILL SCHOOL OFFERS A VARIETY OF BEFORE AND AFTER SCHOOL PROGRAMS TO ALL STUDENTS AT THE SCHOOL, INCLUDING AN EARLY ARRIVAL PROGRAM, EXTENDED DAY, AFTER-SCHOOL ENRICHMENTCLASSES, PRIVATE MUSIC LESSONS, AND VACATION CAMP. 8599698 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 43 0 1 198 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MA X LISA HALM 6172641341 428 HAMMOND STREET CHESTNUT HILL MA 02467 STEFAN KARLSSON CO-PRESIDENT 1.00 X X 0 0 0 STEPHEN KRAUS CO-PRESIDENT 1.00 X X 0 0 0 JILL KRAVETZ VICE PRESIDENT - OUTGOING 1.00 X X 0 0 0 ANGELA SMITH VICE PRESIDENT 1.00 X X 0 0 0 NEIL MANIAR SECRETARY 1.00 X X 0 0 0 RICK WETMORE TREASURER 1.00 X X 0 0 0 FAWN BARILLO ANDERSEN TRUSTEE 1.00 X 0 0 0 NAISHA BRADLEY TRUSTEE 1.00 X 0 0 0 VICTORIA CAIN TRUSTEE 1.00 X 0 0 0 KIRSTEN CHAMPLIN TRUSTEE - OUTGOING 1.00 X 0 0 0 EMIL DABORA TRUSTEE - OUTGOING 1.00 X 0 0 0 DONALD FELIX TRUSTEE 1.00 X 0 0 0 THOMAS FOX TRUSTEE 1.00 X 0 0 0 JANE GLAZAR TRUSTEE - OUTGOING 1.00 X 0 0 0 SARAH GREENHILL TRUSTEE 1.00 X 0 0 0 HILLARY GROVE TRUSTEE 1.00 X 0 0 0 PAUL MASHIKIAN TRUSTEE 1.00 X 0 0 0 MATHILDA MCGEE-TUBBS TRUSTEE 1.00 X 0 0 0 SHRADHA PATEL TRUSTEE 1.00 X 0 0 0 VARSHA TANGUTURI TRUSTEE 1.00 X 0 0 0 LINDSEY VALENTE TRUSTEE 1.00 X 0 0 0 MARCUS YOUNG TRUSTEE - OUTGOING 1.00 X 0 0 0 LISA HALM DIRECTOR OF FINANCE 40.00 X 141523 0 42533 DIANA BLAZAR INTERIM HEAD OF SCHOOL EFFECTIVE 7/1/22 40.00 X 260498 0 27244 TARA HATHAWAY DIRECTOR OF OPERATIONS 40.00 X 123680 0 8410 MARCUS NICKERSON DIRECTOR OF ATHLETICS AND SUMMER CAMP 40.00 X 117733 0 8632 SCOTT PARKER ASSOCIATE HEAD OF SCHOOL 40.00 X 117260 0 40497 TAMARA SCHURDAK FORMER HEAD OF SCHOOL- THRU 6/30/2022 40.00 X 323456 0 20774 1084150 0 148090 8 1 1 0 CLIFTONLARSONALLEN LLP PO BOX 829709 PHILADELPHIA PA 191829709 AUDIT, ACCOUNTING, AND TAX 128477 REMINGTON OUNCEIT LLC PO BOX 3137 WORCESTER MA 01613 IT CONSULTANTS 116893 2 516231 1215 516231 TUITION 611710 9276918 9276918 CAMP, AFTERSCHOOL, AND OTHER 611710 2301751 2301751 ALL OTHER PROGRAM SERVICE REVENUE 900099 158776 158776 11737445 248465 -2918 251383 150 0 150 150 150 2001996 1863823 138173 138173 26788 111385 4505 15507 -11002 -11002 12629462 11737445 23870 351916 1869973 1869973 494872 92520 340672 61680 5279571 3785928 1418593 75050 250770 156830 92840 1100 650065 421594 218749 9722 423344 288110 129464 5770 11453 11453 81720 81720 17378 17378 176416 14887 153729 7800 147681 8892 127425 11364 45633 40135 5498 260928 113351 133537 14040 499418 424505 74913 221284 188091 33193 667612 567470 100142 99823 99823 STUDENT SERVICES AND AC 358064 358064 INSTRUCTIONAL SUPPLIES 256502 256502 BAD DEBT EXPENSE 19125 19125 187120 52981 131983 2156 12018752 8599698 3224874 194180 1080361 2044889 3535609 3860478 857377 13000 6725797 6431622 249062 364244 17954944 8454615 9597212 9500329 7643168 8807310 3696501 2841901 33385087 33863773 815040 655615 8846991 8781681 6965558 6812625 16627589 16249921 X 15489185 16317510 1268313 1296342 16757498 17613852 33385087 33863773 610710 245644 0 X X 0 1 X 1 0 X 1031405 611761 729734 3801101 516231 6690232 1031405 611761 729734 3801101 516231 6690232 364765 6325467 152195 170304 149999 162805 251533 886836 23870 23870 7600938 50994530 0.83220 0.90000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 11120579 547840 11668419 11402707 -32128 250000 11120579 588542 8314946 2839219 8602 331398 11402707 567517 100 20925 588542 286833 265000 22312 6628 567517 0.93360 0.06640 0.00000 0 0 12000 12000 15251881 6680191 8571690 1515077 1026415 488662 1175986 748009 427977 9500329 PRIVATE EQUITY 2841901 F 2841901 X 10963081 245644 -1910154 -1664510 12627591 17378 -15507 1871 12629462 10106727 15507 15507 10091220 17378 1910154 1927532 12018752 PART V, LINE 4: THE SCHOOL'S ENDOWMENT FUNDS ARE INVESTED FOR LONG-TERM GROWTH IN ORDER TO PROVIDE A RATE OF RETURN WHICH, SUBJECT TO THE SCHOOL'S SPENDING POLICY, WILL BE USED TO SUPPORT THE SCHOOL'S CURRENT AND FUTURE PROGRAMS. PART X, LINE 2: THE SCHOOL HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2023 AND 2022. THE SCHOOL'S FEDERAL INFORMATION RETURNS PRIOR TO FISCAL YEAR 2020 ARE CLOSED, AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. IF THE SCHOOL HAD UNRELATED BUSINESS INCOME TAXES, IT WOULD RECOGNIZE INTEREST AND PENALTIES ASSOCIATED WITH ANY TAX MATTERS AS PART OF THE INCOME TAX PROVISION AND INCLUDE ACCRUED INTEREST AND PENALTIES WITH THE RELATED TAX LIABILITY IN THE STATEMENTS OF FINANCIAL POSITION. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID AND REMISSION -1,910,154. PROVISION FOR UNCOLLECTIBLE PLEDGES PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES -15,507. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 15,507. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND REMISSION 1,910,154. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 ON AN ANNUAL BASIS, THE CHESTNUT HILL SCHOOL PARTICIPATES IN A GROUP ADVERTISEMENT IN THE BOSTON GLOBE REAFFIRMING ITS POLICY OF NON-DISCRIMINATORY ADMISSION OF STUDENTS. 1 FINANCIAL AID 70 1604700 FMV FINANCIAL ASSISTANCE CREDITED DIRECTLY AGAINST STUDENT ACCOUNT BALANCES. FINANCIAL AID - OTHER PROGRAMS 63 265273 FMV FINANCIAL ASSISTANCE CREDITED DIRECTLY AGAINST ENROLLEE ACCOUNT BALANCES. PART I, LINE 2: FINANCIAL AID IS AWARDED THROUGH A PROCESS WHICH BEGINS WITH THE PARENTS' SUBMISSION OF AN APPLICATION TO SCHOOL AND STUDENT SERVICES (SSS). RESULTING INFORMATION IS THEN REVIEWED BY THE SCHOOL'S FINANCIAL AID COMMITTEE, WHICH IS CHARGED WITH FINAL DISTRIBUTION OF APPROVED FINANCIAL AID AWARDS. X 1 1 X X X 1 0 0 0 0 0 0 1 0 TAMARA SCHURDAK FORMER HEAD OF SCHOOL- THRU 6/30/202 161201 0 0 0 162255 0 9720 0 11054 0 344230 0 0 0 DIANA BLAZAR INTERIM HEAD OF SCHOOL EFFECTIVE 7/1 259177 0 1000 0 321 0 14164 0 13080 0 287742 0 0 0 LISA HALM DIRECTOR OF FINANCE 139270 0 1500 0 753 0 9081 0 33452 0 184056 0 0 0 SCOTT PARKER ASSOCIATE HEAD OF SCHOOL 115303 0 1500 0 457 0 7613 0 32884 0 157757 0 0 0 PART I, LINE 1A IN ACCORDANCE WITH THEIR EMPLOYMENT CONTRACT, THE HEAD OF SCHOOL HAS ACCESS TO A DISCRETIONARY SPENDING ACCOUNT TO PAY FOR COSTS AND FEES ASSOCIATED WITH A PROFESSIONAL EXECUTIVE COACH FOR THE BENEFIT OF THE HEAD, IN ADDITION TO OTHER ITEMS ASSOCIATED WITH THE BUSINESS OF THE SCHOOL. PART I, LINE 4A DURING 2022, THE SCHOOL ENTERED INTO A SEVERANCE AGREEMENT WITH THE OUTGOING/FORMER HEAD OF SCHOOL. UNDER THE AGREEMENT, THE OUTGOING/FORMER HEAD OF SCHOOL WILL RECEIVE CONSECUTIVE MONTHLY PAYMENTS, AS DETERMINED BY THE AGREEMENT. DURING THE PERIOD 7/1/2022-12/31/2022, THE OUTGOING/FORMER HEAD OF SCHOOL RECEIVED SEVERANCE PAYMENTS TOTALING $162,000. THIS AMOUNT IS INCLUDED ON SCHEDULE J, PART II, (B)(III) AS OTHER REPORTABLE COMPENSATION. PART I, LINE 7 THE INTERIM HEAD OF SCHOOL, DIRECTOR OF FINANCE, AND ASSOCIATE HEAD OF SCHOOL RECEIVED A DISCRETIONARY BONUS BASED ON THE APPROVAL OF EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY SERIES 2019 043431814 2019-06-26 7500000 REFUND SERIES 2011 BONDS 0 0 0 A 666307 7500000 7449532 50468 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 0 0 0 0 0 0 A 0 68240 NEED BASED FINANCIAL AID FINANCIAL ASSISTANCE FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION SHALL BE THE TRUSTEES SERVING IN SUCH OFFICE AND PARENTS OR LEGAL GUARDIANS OF THE CHILDREN FROM TIME TO TIME ENROLLED AS FULL TIME STUDENTS IN THE SCHOOL AS SET FORTH ON THE LIST OF FAMILIES MAINTAINED BY THE SCHOOL. FORM 990, PART VI, SECTION A, LINE 7A THE TRUSTEESHIP COMMITTEE SHALL DETERMINE THE NUMBER OF VACANCIES ON THE BOARD OF TRUSTEES AND SHALL PROPOSE A SLATE OF CANDIDATES FOR SUCH VACANCIES TO THE BOARD OF TRUSTEES FOR APPROVAL AT LEAST THIRTY (30) DAYS PRIOR TO THE DATE OF THE ANNUAL MEETING. ONCE A SLATE OF PROPOSED TRUSTEES IS APPROVED BY THE TRUSTEES, THE NAMES OF THE PERSONS SO NOMINATED SHALL BE DISTRIBUTED ELECTRONICALLY (EMAILED) TO THE MEMBERS OF THE CORPORATION AND TO THE BOARD NOT LESS THAN FOURTEEN (14) DAYS PRIOR TO THE DATE OF THE ANNUAL MEETING. MEMBERS OF THE CORPORATION MAY PETITION FOR ADDITIONAL NOMINATIONS BY SUBMITTING SUCH PETITION SIGNED BY NOT FEWER THAN FIVE MEMBERS AND SUBMITTED TO THE SECRETARY NOT LESS THAN SEVEN (7) DAYS PRIOR TO THE DATE OF THE ANNUAL MEETING. THE REVISED LIST OF ALL NOMINATIONS MUST BE MAILED TO ALL MEMBERS OF THE CORPORATION NOT LESS THAN THREE (3) DAYS PRIOR TO THE DATE OF THE ANNUAL MEETING. SO LONG AS QUORUM IS PRESENT AT THE ANNUAL MEETING, A VOTE BY A MAJORITY OF THOSE EITHER PRESENT OR REPRESENTED BY PROXY SHALL CONSTITUTE PROPER ELECTION OF CANDIDATES FOR THE OFFICE OF TRUSTEE. ONCE ELECTED, EACH TRUSTEE SHALL SERVE FROM THE DAY FOLLOWING THE ANNUAL MEETING OF HIS/HER SELECTION UNTIL HIS/HER SUCCESSOR IS DULY ELECTED. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 WAS PRESENTED TO THE EXECUTIVE COMMITTEE OF THE GOVERNING BODY BEFORE THE RETURN WAS FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE EXECUTIVE COMMITTEE DISTRIBUTES CONFLICT OF INTEREST STATEMENTS FOR ALL BOARD MEMBERS TO FILL OUT. THE SECRETARY COLLECTS THE STATEMENTS AND REVIEWS ALL DISCLOSURES. THE CONFLICT OF INTEREST STATEMENT STATES THAT BOARD MEMBERS HAVE AN ONGOING RESPONSIBILITY TO DISCLOSE ANY CONFLICTS OR SUSPECTED CONFLICTS WITH THE PRESIDENT OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF TRUSTEES REVIEWS SALARY AND BENEFIT INFORMATION OBTAINED THROUGH NAIS AND AISNE STATS ONLINE. IT DETERMINES AN APPROPRIATE SALARY (BASED ON THE CHESTNUT HILL SCHOOL'S BUDGET) FOR THE HEAD OF SCHOOL. THE HEAD OF SCHOOL DETERMINES ALL OTHER FACULTY AND STAFF COMPENSATION. THESE ARE ALL DETERMINED IN THE SAME MANNER AS THAT USED FOR THE HEAD OF SCHOOL. THIS PROCESS IS PERFORMED ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST AT ITS BUSINESS OFFICE. FORM 990, PART XII, LINE 2C THE SCHOOL HAS NOT CHANGED ITS OVERSIGHT OR SELECTION PROCESSES DURING THE TAX YEAR.