2025-05-15T13:43:20-05:00 2024-06-30 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2023-07-01 221487252 MORRISTOWN-BEARD SCHOOL MORR 9735393032 70 WHIPPANY ROAD MORRISTOWN NJ 07960 CHANCE VAN SCIVER CHIEF FINANCIAL & OPERATING OFFICER 9735393032 2025-05-15 1 1 MELISSA MODELSON P01603524 9143818900 2025-05-07 2023 2025-03-06 01:10:19Z CHANCE VAN SCIVER 70 WHIPPANY ROAD MORRISTOWN NJ 07960 35093344 0 X WWW.MBS.NET X 1939 NJ THE SCHOOL IS AN EDUCATIONAL COLLEGE PREPARATORY SCHOOL IN GRADES 6 TO 12. 24 22 353 120 104693 102193 2619426 1534560 31575996 32179478 800134 942293 -10898 37350 34984658 34693681 3849321 4011405 0 0 19987790 21164168 0 7949 1379634 10185400 10487615 34022511 35671137 962147 -977456 73085809 76540014 5416796 6843481 67669013 69696533 MORRISTOWN BEARD SCHOOL IS AN EDUCATIONAL COLLEGE PREPARATORY SCHOOL IN GRADES 6 TO 12 LOCATED IN MORRISTOWN, NEW JERSEY. 0 0 27746796 4011405 32176691 MORRISTOWN BEARD SCHOOL IS AN INDEPENDENT, COEDUCATIONAL DAY SCHOOL SERVING STUDENTS FROM MORE THAN 85 COMMUNITIES AND NINE COUNTIES IN NORTHERN NEW JERSEY. THERE ARE 600 STUDENTS IN GRADES 6-12, WITH AN UPPER SCHOOL ENROLLMENT OF 450 AND MIDDLE SCHOOL OF 150.STUDENTS LEAVE MBS EXCEEDINGLY WELL PREPARED FOR THE CHALLENGES OF COLLEGE AND UNIVERSITY STUDIES. THEIR SKILLS IN THINKING, WRITING, AND TIME MANAGEMENT SET THEM APART AMONG ENTERING COLLEGE STUDENTS, WHILE THE QUALITIES OF MIND THEY DEVELOP HERE POSITION THEM FOR SUCCESS LONG AFTER COLLEGE. THESE STRENGTHS FROM COMMUNICATION AND COLLABORATION TO THE ABILITY TO SOLVE COMPLEX, OPEN-ENDED PROBLEMS LEAD NEARLY EVERY LIST OF CAPABILITIES FOR 21ST-CENTURY SUCCESS. 27746796 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 52 0 353 1 1 1 0 0 0 0 1 0 0 0 0 0 0 0 X 24 22 0 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X CHANCE VAN SCIVER 9735393032 70 WHIPPANY ROAD MORRISTOWN NJ 07960 X ELIZABETH MORRISON HEAD OF SCHOOL 55.00 X X 485595 0 55203 RAVI CHOPRA CO-PRESIDENT 10.00 X X 0 0 0 CARISA STRAUSS CO-PRESIDENT 10.00 X X 0 0 0 DARNELL PARKER VICE PRESIDENT 10.00 X X 0 0 0 LEE KELLOGG SADRIAN VICE PRESIDENT 10.00 X X 0 0 0 KELLY EWING VICE PRESIDENT 10.00 X X 0 0 0 MICHAEL MORAIS VICE PRESIDENT 10.00 X X 0 0 0 R CARTWRIGHT WALLACE TREASURER 10.00 X X 0 0 0 PAMELA NELSON-DAVIDSON SECRETARY 10.00 X X 0 0 0 DENA BAPTISTE TRUSTEE 10.00 X 0 0 0 LISSA FERRELL TRUSTEE 10.00 X 0 0 0 PETER FIVERSON TRUSTEE 10.00 X 0 0 0 SHANAE GREEN TRUSTEE 10.00 X 0 0 0 DAVID MCMANUS TRUSTEE 10.00 X 0 0 0 DAVID MOLOWA TRUSTEE 10.00 X 0 0 0 CORY PINE TRUSTEE 10.00 X 0 0 0 SUSAN REALE TRUSTEE 10.00 X 0 0 0 BRUCE SANFORD TRUSTEE 10.00 X 0 0 0 LARRY SHERMAN TRUSTEE 10.00 X 0 0 0 PENNY SOKOLOWSKI TRUSTEE 10.00 X 0 0 0 ERIC SOOS TRUSTEE 10.00 X 0 0 0 SCOTT TANNEN TRUSTEE 10.00 X 0 0 0 JANINE WEBB TRUSTEE 10.00 X 0 0 0 SHERIF ZAKHARY TRUSTEE 10.00 X 0 0 0 RICHARD KASMIN CHIEF FINANCIAL OFFICER, EFF. 7/1/23 55.00 X 89822 0 11258 ELIZABETH PATTERSON DIRECTOR OF ADVANCEMENT 55.00 X 227581 0 50661 PHILICIA LEVINSON DIRECTOR OF HUMAN RESOURCES 55.00 X 177234 0 41049 BONI LUNA DEAN OF FACULTY 55.00 X 188936 0 46811 RYAN LIESE HEAD OF UPPER SCHOOL 55.00 X 186791 0 36747 ROBERT MITCHELL DIRECTOR OF ADMISSION 55.00 X 155914 0 38392 PAUL FISHER TECHNOLOGY TEACHER 55.00 X 166811 0 44132 KLARISSA KAROSEN DIRECTOR OF DEI 55.00 X 143704 0 76684 MARK CLAR DIR OF FACILITIES 55.00 X 137343 0 25015 PETER CALDWELL FORMER HEAD OF SCHOOL 0.50 X 270000 0 0 2229731 0 425952 35 1 1 0 FLIK INDEPENDENT SCHOOLS 3 INTERNATIONAL DR 3RD FL RYE BROOK NY 10573 CAFETERIA 754074 DSG SERVICES PO BOX 2064 MORRISTOWN NJ 07962 CLEANING SERVICES 717915 A&D STAFFING LLC 16 KENT RD PATERSON NJ 07502 STAFFING SERVICES 534930 BELAIR TRANSPORT 641 TREMONT AVENUE ORANGE NJ 07050 STUDENT BUS TRANSPORTATION 355798 GLOBAL SHEET METAL 327 FRANKLIN AVE NUTLEY NJ 07110 REPAIRS AND MAINTENANCE 347492 8 33148 1501412 70793 1534560 TUITION AND FEES 611110 29822308 29822308 AUXILIARY REVENUE 611110 1615793 1615793 CLUB & ACTIVITY FEES 611110 741377 741377 32179478 942293 104693 837600 284200 284200 0 140547 33148 110978 29569 29569 9975 0 9975 9975 1698 4485 -2787 -2787 MISCELLANEOUS REVENUE 900099 593 593 593 34693681 32176691 104693 877737 4011405 4011405 1378310 412402 965908 14628615 11869829 1720227 1038559 1031388 822923 129754 78711 2843673 2417343 280458 145872 1282182 1034112 172925 75145 53046 53046 46850 46850 7949 7949 37195 37195 1202930 705621 497309 263404 2267 261137 658382 417868 240514 634568 530368 104200 515901 361273 154628 252650 14217 238433 72232 63148 9084 12963 12963 2323386 1742540 580846 380612 95154 285458 EVENTS AND PROGRAMS 1583767 877729 706038 FOOD AND DINING 1425236 1425236 REPAIRS AND MAINTENANCE 528771 468074 60697 STUDENT SUPPLIES & EQUI 293103 293103 202619 169221 33398 35671137 27746796 6544707 1379634 160015 257793 4249712 5266572 524061 333673 312728 344538 25000 0 71767 63255 106872 82285 76583447 36436760 41114921 40146687 25141030 28749097 809100 809100 570603 487014 73085809 76540014 2303991 2241389 2590756 4299266 522049 302826 5416796 6843481 X 44864039 43788035 22804974 25908498 67669013 69696533 73085809 76540014 X -977456 3185364 -180388 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 25219866 36450 3837266 406141 28687441 23154970 65077 2452751 452932 25219866 23636420 3007323 -3173685 315088 23154970 15716073 3190207 4902590 150000 22450 23636420 15396777 10659 494822 150000 36185 15716073 0.13200 0.42300 0.44500 0 0 1560691 1560691 71898386 34598826 37299560 2194391 1529763 664628 929979 308171 621808 40146687 X 33313168 3185364 56988 115465 3357817 29955351 37195 4701135 4738330 34693681 31285648 56988 295853 352841 30932807 37195 4701135 4738330 35671137 PART V, LINE 4: THE SCHOOL'S ENDOWMENT FUND CONSISTS OF SEVERAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES, INCLUDING SUPPORT FOR THE FACULTY, SCHOLARSHIPS FOR STUDENTS, AND SUPPORT FOR CAPITAL EXPENDITURES. THE FUNDS ARE RESTRICTED BY DONORS. PART X, LINE 2: THE SCHOOL RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE SCHOOL HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE SCHOOL IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO JUNE 30, 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES NETTED AGAINST REVENUE 110,978. RECLASS COST OF GOODS SOLD TO PART VIII, LINE 10B 4,487. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID & TUITION REMISSION RECLASSED TO PART IX 4,701,135. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES NETTED AGAINST REVENUE 110,978. RECLASS PLEDGES RECEIVABLE WRITE-OFF TO PART XI 180,388. RECLASS COST OF GOODS SOLD TO PART VIII, LINE 10B 4,487. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID & TUITION REMISSION RECLASSED TO PART IX 4,701,135. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 A STATEMENT OF NON-DISCRIMINATION IS INCLUDED IN THE SCHOOL'S ADVERTISING MATERIALS AND ITS WEBSITE HOMEPAGE. THE SCHOOL PARTICIPATES IN THE NJAIS NON-DISCRIMINATION POLICY ADVERTISEMENT WHICH INCLUDES THE POLICY IN A LOCAL SCHOOL ADVERTISEMENT. GALA 173695 33148 140547 51324 7123 52531 173695 33148 140547 51324 7123 52531 110978 29569 1 FINANCIAL AID 128 4011405 PART I, LINE 2: ALL FINANCIAL ASSISTANCE GIVEN TO STUDENTS IS CREDITED DIRECTLY TO THEIR TUITION ACCOUNTS. RECIPIENTS ARE CHOSEN BASED ON DEMONSTRATED FINANCIAL NEED. SEVERAL FACTORS INCLUDING INCOME, ASSETS, LIABILITIES, AND THE NUMBER OF CHILDREN IN TUITION-CHARGING SCHOOLS ARE TAKEN INTO CONSIDERATION. IN ORDER TO APPLY, FAMILIES MUST COMPLETE A THIRD-PARTY APPLICATION, AND FILE COPIES OF THE REQUIRED DOCUMENTS BY THE APPROPRIATE DEADLINES. X 1 0 X X X X 0 0 0 0 0 0 0 0 0 ELIZABETH MORRISON HEAD OF SCHOOL 418989 0 0 0 66606 0 24522 0 30681 0 540798 0 0 0 ELIZABETH PATTERSON DIRECTOR OF ADVANCEMENT 224809 0 0 0 2772 0 22930 0 27731 0 278242 0 0 0 PETER CALDWELL FORMER HEAD OF SCHOOL 270000 0 0 0 0 0 0 0 0 0 270000 0 0 0 BONI LUNA DEAN OF FACULTY 186309 0 0 0 2627 0 19080 0 27731 0 235747 0 0 0 RYAN LIESE HEAD OF UPPER SCHOOL 186393 0 0 0 398 0 9540 0 27207 0 223538 0 0 0 KLARISSA KAROSEN DIRECTOR OF DEI 143409 0 0 0 295 0 11093 0 65591 0 220388 0 0 0 PHILICIA LEVINSON DIRECTOR OF HUMAN RESOURCES 175893 0 0 0 1341 0 10368 0 30681 0 218283 0 0 0 PAUL FISHER TECHNOLOGY TEACHER 164843 0 0 0 1968 0 16925 0 27207 0 210943 0 0 0 ROBERT MITCHELL DIRECTOR OF ADMISSION 155192 0 0 0 722 0 15570 0 22822 0 194306 0 0 0 MARK CLAR DIR OF FACILITIES 135591 0 0 0 1752 0 13735 0 11280 0 162358 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL IS PROVIDED WITH A HOUSING ALLOWANCE TO ENABLE THEM TO LIVE IN CLOSE ENOUGH PROXIMITY TO THE SCHOOL TO BE AVAILABLE IN AT VARIOUS TIMES OF THE DAY AND NIGHT, AND TO MEET WITH PROSPECTIVE STUDENTS, FAMILIES, AND DONORS. THE VALUE OF THE HOUSING ALLOWANCE IS TAXABLE AND REPORTED ON THEIR W-2. A PUBLIC FINANCE AUTHORITY 273866124 000000000 2015-10-06 9000000 REFINANCE PRIOR ISSUE FROM 2007, CONSTRUCTION OF MATH & SCIENCE BUILDING 0 0 0 A 8697173 9000000 7000000 2000000 2015 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 0 0 0 0 0 A 0 42840 FINANCIAL AID DISCOUNTED TUITION X 6 23938 AVG. SELLING PRICE X GIFT CARDS 39 33568 X VARIOUS TICKETS 13 10890 X AUCTION ITEMS 5 2397 0 0 1 0 SCHEDULE M, PART I, COLUMN (B): THE NUMBER REPORTED IN PART I, COLUMN (B) IS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION AMENDED ITS BYLAWS DURING FY24 AS FOLLOWS: - THE MAXIMUM NUMBER OF TRUSTEES WAS INCREASED TO 30. - REMOTE MEETING PARTICIPATION WAS ADDED AND ACTION BY WRITTEN CONSENT REVISED. - TRUSTEE COMMITTEES WERE REORGANIZED TO COMBINE THE AUDIT COMMITTEE AND COMPENSATION COMMITTEE AND TO REMOVE THE DEVELOPMENT COMMITTEE AS WELL AS ADD A DIVERSITY, EQUITY AND INCLUSION COMMITTEE, ADVANCEMENT COMMITTEE AND STUDENT EXPERIENCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B MORRISTOWN BEARD SCHOOL HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY THE HEAD OF SCHOOL AND CFO AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, A REDACTED RETURN (REMOVAL OF SCHEDULE B) IS ELECTRONICALLY SENT TO THE BOARD OF TRUSTEES IN ADVANCE OF A BOARD MEETING. AT THAT MEETING, THE CHIEF FINANCIAL OFFICER SUMMARIZES THE KEY HIGHLIGHTS OF THE FORM 990 AND ANSWERS ANY QUESTIONS PRIOR TO THE TRUSTEES VOTING TO APPROVE THE FILING OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT IS REGULARLY AND CONSISTENTLY MONITORED AND ENFORCED. THE PURPOSE OF THIS CONFIDENTIALITY AND CONFLICT OF INTEREST POLICY ("POLICY") IS TO PROTECT MORRISTOWN BEARD SCHOOL'S ("SCHOOL") INTERESTS WHEN IT IS CONTEMPLATING ENTERING INTO A TRANSACTION OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTEREST OF AN OFFICER OR DIRECTOR OF THE SCHOOL, OR MIGHT RESULT IN A POSSIBLE EXCESS BENEFIT TRANSACTION. AN "INTERESTED PERSON" IS ANY DIRECTOR, PRINCIPAL OFFICER, KEY EMPLOYEE OR MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS, WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST. ANNUALLY, EACH INTERESTED PERSON MUST COMPLETE A CONFLICT OF INTEREST STATEMENT TO DISCLOSE ANY POTENTIAL CONFLICTS. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON IS GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION COMMITTEE OF THE BOARD USES AVAILABLE COMPENSATION STUDIES, BENCHMARKING DATA FROM RELEVANT INDUSTRY ASSOCIATIONS, AS WELL AS COMPARATIVE SCHOOL DATA GLEANED FROM FORM 990S TO DETERMINE THE SALARY FOR THE HEAD OF SCHOOL. THE BOARD OF TRUSTEES APPOINTS A TRUSTEE TO LEAD THE SEARCH COMMITTEE. THE HEAD OF SCHOOL COMPENSATION IS APPROVED BY THE BOARD. THIS PROCESS WAS LAST UNDERTAKEN IN 2023. COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE HEAD OF SCHOOL IN CONSULTATION WITH THE CHIEF FINANCIAL OFFICER, USING AVAILABLE COMPENSATION STUDIES, BENCHMARKING DATA FROM RELEVANT INDUSTRY ASSOCIATIONS, AS WELL AS COMPARATIVE SCHOOL DATA GLEANED FROM FORM 990S. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. PART VII, SECTION A: PETER CALDWELL, FORMER HEAD OF SCHOOL, RECEIVED COMPENSATION REPORTED IN PART VII RELATING TO A CONSULTING AGREEMENT THAT WAS ESTABLISHED AFTER HE STEPPED DOWN FROM HIS POSITION. HE IS PROVIDING CONSULTING SERVICES ON AN AS-NEEDED BASIS TO THE SCHOOL. FORM 990, PART XI, LINE 9: UNCOLLECTIBLE PLEDGES WRITE-OFF -180,388. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.