2024-11-13T16:22:06-06:00 2024-06-30 010523282 Berry Dunn McNeil & Parker LLC 2211 Congress St Portland ME 04102 990 2023-07-01 030181215 St Johnsbury Academy STJO 8027488171 1000 Main Street St Johnsbury VT 05819 Dr Sharon Howell Headmaster 8027488171 2024-11-13 1 1 Melissa Magoon CPA P01712842 2077752387 2024-11-13 2023 2024-10-15 13:58:12Z Dr Sharon Howell 1000 Main Street St Johnsbury VT 05819 50438296 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. 20 20 441 127 71006 63466 1977508 2449791 30655485 32795225 2074571 2696001 333333 475833 35040897 38416850 3053327 2983713 0 0 20261908 21749931 0 0 909611 11509091 11802337 34824326 36535981 216571 1880869 73844060 76612446 13693132 12817412 60150928 63795034 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 30457346 2983713 32231713 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 920 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 180 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. 679475 563512 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 nearly 350 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. 31136821 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 X 51 0 1 441 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 X 20 20 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 Vice President 3.00 X X 0 0 0 Peter F Crosby Treasurer 3.00 X X 0 0 0 Peter F Hammer Secretary 3.00 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 D Cavanaugh Trustee 1.00 X 0 0 0 Timothy A 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 A Empsall Trustee 1.00 X 0 0 0 Mrs Nancy U Goodrich Trustee 1.00 X 0 0 0 Dr Joshua Kantrowitz Trustee 1.00 X 0 0 0 Jesse C Laflamme Trustee 1.00 X 0 0 0 Sanghyun Lee Trustee 1.00 X 0 0 0 James H Murphy Trustee 1.00 X 0 0 0 Dr Deane E Rankin Trustee 1.00 X 0 0 0 Dr Kathy A Silloway Trustee 1.00 X 0 0 0 Paul C Simpson Trustee 1.00 X 0 0 0 Edward R Zuccaro Trustee 1.00 X 0 0 0 Erin Mayo Past Trustee 1.00 X 0 0 0 Sharon L Howell Headmaster 60.00 X 430764 0 77242 Carol L Lyon CFO/Asst Headmaster Business Services 60.00 X 164008 0 30163 Tammy S Cady Assistant Head for Advance 60.00 X 146713 0 7040 Henry W Eaton Academic Dean 40.00 X 118533 0 17542 Binaca M Hanson Asst Headmaster Academic & Student Life 60.00 X 165720 0 32485 John Lenzini Assoc Headmaster 60.00 X 149744 0 38870 James G Mazzonna Chief Technology Officer 60.00 X 138919 0 6659 1314401 0 210001 9 0 1 0 Aladdin Food Management Services LLC 16567 Collections Center Drive Chicago IL 60693 Food Service 1163730 Opal Global LLC 137 High Street Belfast ME 04915 Architectural Svcs 553030 Black Bear Coatings & Concrete 488 Main Street Leominster MA 01453 Floor Refinishing 134460 Allied Universal Technology Services PO Box 200906 Dallas TX 753200906 Security Systems 129511 Refab 1193 Ashley Boulevard New Bedford MA 02745 Paint/Construction 104090 6 2449791 158308 2449791 Day School Tuition 611600 20940303 20940303 Res School Tuition 611600 8755954 8755954 Other Educ. Prog. 611600 1878058 1878058 Miscellaneous Income 611600 674012 61509 612503 Field House & recreation Activity 611600 546898 546898 32795225 1365175 71006 1294169 333333 333333 12752272 600000 11853172 168274 899100 431726 1330826 1330826 Insurance Proceeds 611600 142500 142500 142500 38416850 32182722 71006 3713331 2983713 2983713 702177 582364 119813 15426361 13783558 1133437 509366 701091 657314 24228 19549 3768624 3103559 592553 72512 1151678 1088516 35116 28046 245250 2138 243112 49880 49880 80280 80280 111266 111266 1130837 170227 924300 36310 141968 55984 85984 277030 121416 96678 58936 2342367 2297117 38646 6604 477753 324905 123967 28881 213355 213355 2113759 2113759 419431 419431 Food Services 2724873 2700610 208 24055 Student Activities and 1046892 1018003 28889 Miscellaneous 414069 83216 325314 5539 UBI Tax 13327 13327 36535981 31136821 4489549 909611 X 369300 791663 3977256 4778267 88632 679717 1497383 1118575 1019629 1037030 58977 84875 581204 267385 65595590 32517840 34202982 33077750 28840974 31536191 2821061 2937608 296071 168926 90591 134459 73844060 76612446 1010304 670802 2754609 2661486 7806704 7359534 2121515 2125590 13693132 12817412 X 45782948 47595742 14367980 16199292 60150928 63795034 73844060 76612446 X 1880869 1604721 158516 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 80280 80280 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. 7536992 248203 844705 344995 8284905 6572142 476174 771362 282686 7536992 7385599 209261 -779804 242914 6572142 5916205 97088 1592938 220632 7385599 6126139 72306 19760 302000 5916205 0.00000 0.76545 0.23455 0 0 3335204 3335204 52367835 25255031 27112804 652637 652637 0 7827073 6022125 1804948 1412841 588047 824794 33077750 Funds Held on Behalf of Others 324427 Early Retirement Benefit Obligation 1254473 Deferred Compensation Payable 374990 Operating Lease Liabilities 171700 2125590 X 37132980 1604721 47872 228428 1881021 35251959 111266 3053625 3164891 38416850 33488874 47872 47872 33441002 111266 2983713 3094979 36535981 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 228,428. Part XI, Line 4b - Other Adjustments: Financial Aid 2,983,713. Change in Actuarial Value of Retirement Benefit 69,912. Part XII, Line 4b - Other Adjustments: Financial Aid 2,983,713. 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 1317000 0 0 0 0 0 0 1317000 0 1317000 0 0 1 1 0 0 1 Scholarships to students - details available upon request 111 2928532 Awards to graduating students 57 55181 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 309122 0 85000 0 36642 0 49899 0 27343 0 508006 0 0 0 Binaca M Hanson Asst Headmaster Academic & Student L 140081 0 25000 0 639 0 7250 0 25235 0 198205 0 0 0 Carol L Lyon CFO/Asst Headmaster Business Service 156789 0 5000 0 2219 0 8080 0 22083 0 194171 0 0 0 John Lenzini Assoc Headmaster 145094 0 4000 0 650 0 7425 0 31445 0 188614 0 0 0 Tammy S Cady Assistant Head for Advance 140802 0 5000 0 911 0 7040 0 0 0 153753 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 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. Other members of the Administrative Leadership Team were awarded bonuses based on the Headmaster's discretion. A Vermont Education and Health Buildings Financing Agency 127154467 2021-05-20 8166893 To refinance previous bond 0 0 0 A 678736 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 232 Fair Market Value X 3 47070 Fair Market Value X 3 59868 Stock Market Value X 1 4655 Selling Price X Life insurance policy 1 43868 Net Present Value X Manikins 1 1119 Invoice X Others 3 666 Invoice X Robotics 1 453 Invoice X Chair and table 1 199 Invoice X 2 lift tickets 1 178 Invoice 0 0 1 0 Form 990, Part V, Line 7h The Academy received a vehicle as a contribution and provided the donor with contemporaneous acknowledgement but did not file the Form 1098-C as of yearend. The Form 1098-C will be filed by the due date in February 2025. Form 990, Part VI, Section A, line 2 Mr. Jamie Murphy and Ms. Martha Cavanaugh's husband are each 33.33% partners in Kingdom Development Company. 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 fall. 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. The compensation committee's recommendations are reviewed and the headmaster's compensation is approved by the full board of trustees. Other key employees have an annual performance appraisal by the headmaster and are compensated using survey data from NAIS, AISNE, 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 228,428. Change in Actuarial Value of Retirement Benefit -69,912. 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 381585 1272963 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 42829 2465045 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 887030 FMV of secured bond Prescott W Stearns FBO St Johnsbury Academy Trust S 111881 Cash paid Kingdom Development Company Inc R 561196 Transfer of Cash Kingdom Development Company Inc A 69341 Interest Received