2023-03-09T10:05:21-06:00 2022-06-30 410746749 CLIFTONLARSONALLEN LLP 4 BATTERYMARCH PARK SUITE 100 QUINCY MA 02169 990 2021-07-01 042105750 TOWER SCHOOL IN MARBLEHEAD INC TOWE 7816315800 75 WEST SHORE DRIVE MARBLEHEAD MA 01945 MATTHEW CARTER TREASURER 7816315800 2023-02-17 1 MATTHEW CARTER 999009999 SHANNON CROWLEY P01594935 7819821001 2023-02-17 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z MATTHEW CARTER 75 WEST SHORE DRIVE MARBLEHEAD MA 01945 11180375 0 X HTTP://WWW.TOWERSCHOOL.ORG X 1912 MA AN INDEPENDENT DAY SCHOOL SERVING PRE-KINDERGARTEN THROUGH GRADE 8. 19 16 107 150 0 0 334793 449149 8946581 9248098 382107 283502 91498 132582 9754979 10113331 2487221 2266483 0 0 5292274 5626724 0 0 564246 1725387 1981261 9504882 9874468 250097 238863 20451588 19833981 11874657 11884450 8576931 7949531 WE TEACH OUR STUDENTS TO THINK CRITICALLY AND CREATIVELY, TO DEVELOP JOYFUL CURIOSITY, TO EMBRACE CHALLENGE AND APPLY THEIR KNOWLEDGE WITH CONFIDENCE, AND TO THRIVE WITHIN A COMMUNITY RICH WITH DIVERSE PERSPECTIVES AND TALENTS. 0 0 7895620 2263838 9141781 THE SCHOOL OPERATES AS A COEDUCATIONAL INDEPENDENT DAY SCHOOL OFFERING A BROAD LIBERAL CURRICULUM FOR GRADES PRE-KINDERGARTEN THROUGH EIGHT. EDUCATED 254 STUDENTS, GRADUATED 26 STUDENTS AND PLACED THEM IN NUMEROUS QUALITY PUBLIC AND PRIVATE SECONDARY SCHOOLS. 106204 2645 130156 THE SUMMER PROGRAM AT TOWER SCHOOL OFFERS A VARIETY OF PROGRAMS FOR CHILDREN AGES 3-16, INCLUDING ART, TECHNOLOGY, ROBOTICS, AND ADVENTURE CAMPS. 195 CHILDREN ATTENDED THE SUMMER PROGRAM IN JULY 2021. 22788 24996 PARENTS ASSOCIATION 8024612 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 0 0 0 0 0 0 0 0 0 1 3 0 1 107 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 16 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X MARGE PIERCE 7816315800 75 WEST SHORE DRIVE MARBLEHEAD MA 01945 SERENA GIFFORD HEAD OF SCHOOL 60.00 X 199134 0 72916 DEAN A SIDELL ASSOC. HEAD OF SCHOOL/CFO 60.00 X 140346 0 34586 RYAN BUCKLEY HEAD OF UPPER SCHOOL 40.00 X 110762 0 40051 ELIZABETH BUCHAN HEAD OF LOWER SCHOOL 40.00 X 102000 0 35829 KATE BRACKEN TRUSTEE 1.00 X 0 0 0 RUTH DU MOULIN TRUSTEE 1.00 X 0 0 0 BETH PEABODY TRUSTEE 1.00 X 0 0 0 JAY STELLA TRUSTEE 1.00 X 0 0 0 ERIC GYLLENBORG TRUSTEE 1.00 X 0 0 0 STEPHEN AINLAY TRUSTEE 1.00 X 0 0 0 STEFANIE CONAHAN TRUSTEE 1.00 X 0 0 0 JAMES FLEURIEL TRUSTEE 1.00 X 0 0 0 GREG DOMBAL TRUSTEE 1.00 X 0 0 0 BARRY KELLY TRUSTEE 1.00 X 0 0 0 CALISTA MAHARAJ TRUSTEE 1.00 X 0 0 0 ADAM PETRICK TRUSTEE 1.00 X 0 0 0 DAPHNE RAMOS TRUSTEE 1.00 X 0 0 0 CARRIE BERENSON ROSENMAN TRUSTEE 1.00 X 0 0 0 ALLISON JUVES TRUSTEE THRU 06/2022 1.00 X 0 0 0 PAIGE HINTLIAN TRUSTEE THRU 06/2022 1.00 X 0 0 0 ALETHEA MCCORMICK TRUSTEE/CHAIR 2.00 X X 0 0 0 ANGELA MUNRO TRUSTEE/CLERK 2.00 X X 0 0 0 MATTHEW VELLUTO TRUSTEE/VICE-CHAIR 2.00 X X 0 0 0 JEFFREY CARTER TRUSTEE/VICE-CHAIR 2.00 X X 0 0 0 MATTHEW CARTER TRUSTEE/TREASURER 2.00 X X 0 0 0 552242 0 183382 4 0 1 0 0 93965 355184 449149 TUITION AND FEES 611600 9092946 9092946 SUMMER PROGRAM 611600 130156 130156 PARENTS ASSOCIATION 611600 24996 24996 9248098 279984 279984 113681 0 113681 113681 113681 907820 904302 3518 3518 3518 132808 93965 162742 -29934 -29934 BAD DEBT RECOVERY 611600 48813 48813 MISCELLANEOUS 611600 22 22 48835 10113331 9296933 0 367249 2266483 2266483 465147 206929 103338 154880 3703847 2955081 541161 207605 163395 112746 32426 18223 994128 831249 105359 57520 300207 227216 48089 24902 2038 2038 31350 31350 51988 51988 228605 153793 72776 2036 14368 400 13968 75072 62076 11094 1902 73682 72822 860 259611 182552 60464 16595 46042 44271 1761 10 170482 131271 27277 11934 559139 426428 95094 37617 79176 58226 15657 5293 STUDENT ACTIVITIES 255174 225781 16969 12424 BAD DEBT EXPENSE 34369 24887 9482 PRINTING, COPY & DESIGN 31572 12168 8920 10484 DUES AND SUBSCRIPTIONS 28443 5255 22079 1109 40150 24978 13460 1712 9874468 8024612 1285610 564246 469735 1304149 116539 48237 3911902 3825336 35704 88579 17669588 8736326 9357563 8933262 6560145 5634418 20451588 19833981 569099 664202 6126195 6169489 5179363 5050759 11874657 11884450 X 6934550 6473705 1642381 1475826 8576931 7949531 20451588 19833981 238863 -866263 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6546454 55578 -634749 491 302093 5664699 5883964 12224 969463 489 318708 6546454 6211764 5813 65343 474 398482 5883964 6494846 19723 312647 2959 612493 6211764 6377099 100882 270632 253767 6494846 0.75036 0.24076 0.00888 0 0 1933052 1933052 1324618 14187862 8577857 6934623 143931 96455 47476 80125 62014 18111 8933262 X 6417843 -866263 -866263 7284106 51988 2777237 2829225 10113331 7045243 0 7045243 51988 2777237 2829225 9874468 PART V, LINE 4: WE USE A SMALL AMOUNT OF THE EARNINGS EACH YEAR FOR OPERATIONS. THE FUND PRINCIPAL IS PROTECTED AND INTENDED FOR USE IN FUTURE YEARS TO PROVIDE EARNINGS POWER AND FINANCIAL STABILITY. PART X, LINE 2: THE SCHOOL DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS AT JUNE 30, 2022 AND 2021. INTEREST AND PENALTIES ASSOCIATED WITH UNRECOGNIZED INCOME TAX POSITIONS, IF IDENTIFIED, WILL BE CLASSIFIED AS ADDITIONAL INCOME TAXES ON THE STATEMENTS OF ACTIVITIES. THE SCHOOL IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY PERIODS IN PROGRESS. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND TUITION REIMBURSEMENT 2,728,424. BAD DEBT RECOVERY 48,813. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND TUITION REMISSION 2,728,424. BAD DEBT RECOVERY 48,813. 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 LISTED ON THE HOMEPAGE OF THE ORGANIZATION'S WEBSITE AS WELL AS ON ALL ADMISSIONS MATERIALS. AUCTION 226773 93965 132808 89768 20345 19009 33620 226773 93965 132808 89768 20345 19009 33620 162742 -29934 1 FINANCIAL AID 111 2222741 LEARNING SKILLS FINANCIAL AID 20 41097 SUMMER CAMP FINANCIAL AID 90 2645 PART I, LINE 2: ALL GRANTS ARE USED FOR EDUCATIONAL SERVICES AT TOWER SCHOOL. FINANCIAL AID IS USED AS A REDUCTION OF TUITION FOR THE CURRENT YEAR. TO APPLY FOR TUITION ASSITANCE, STUDENTS NEED TO CHECK THE BOX ON THE ADMISSION APPLICATION AND TOWER SCHOOL MAILS OUT THE MATERIALS IN DECEMBER. TOWER SCHOOL IN MARBLEHEAD USES THE SERVICES OF SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSS). THE PARENTS FILL OUT THEIR FINANCIAL STATEMENT AND SUBMIT IT TO SSS WHO THEN TURNS OVER THE INFORMATION TO THE SCHOOL. ANY AMOUNTS AWARDED ARE A DIRECT REDUCTION TO THE TUITION INVOICE. X 1 1 X X X 0 0 0 0 0 0 0 0 0 SERENA GIFFORD HEAD OF SCHOOL 199134 0 0 0 0 0 10506 0 62410 0 272050 0 0 0 DEAN A SIDELL ASSOC. HEAD OF SCHOOL/CFO 140346 0 0 0 0 0 10553 0 24033 0 174932 0 0 0 RYAN BUCKLEY HEAD OF UPPER SCHOOL 110762 0 0 0 0 0 5463 0 34588 0 150813 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL IS REQUIRED TO LIVE IN CAMPUS HOUSING PROVIDED BY THE SCHOOL. THE FMV OF THE HOUSING IS INCLUDED AS A NONTAXABLE BENEFIT. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2016-03-29 5798000 REFUND 7/1/07 ISSUE AND ACQUIRE LAND AND BUILDING 0 0 0 A 711311 5798000 74692 1643478 4154522 2007 1 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 48123 FINANCIAL AID EDUCATION FORM 990, PART VI, SECTION B, LINE 11B A COMPLETE COPY OF FORM 990 WAS PROVIDED TO THE BOARD OF TRUSTEES PRIOR TO FILING, HOWEVER, THE NAMES AND ADDRESSES OF THE DONORS ON SCHEDULE B OF THE FORM WERE NOT PROVIDED. THE ASSOCIATE HEAD OF SCHOOL FOR FINANCE AND OPERATIONS, HEAD OF SCHOOL AND TREASURER REVIEW THE COMPLETE FORM 990 PRIOR TO DISTRIBUTION TO THE BOARD. ONCE THE 990 REVIEW IS COMPLETE, IT IS SIGNED AND FILED. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL HAS AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE. IF A MEMBER OF THE BOARD OF TRUSTEES OR OFFICER (OR ANY MEMBER OF HIS OR HER FAMILY) HAS AN INTEREST IN A PROPOSED TRANSACTION WITH THE CORPORATION OR IN ANY ORGANIZATION INVOLVED IN THE PROPOSED TRANSACTION, HE OR SHE MUST MAKE FULL DISCLOSURE OF SUCH INTEREST BEFORE ANY DISCUSSION OR NEGOTIATION OF SUCH TRANSACTION. THE CONDUCT OF BUSINESS BETWEEN ANY SUCH MEMBER OF THE BOARD OF TRUSTEES OR OFFICER, OR HIS OR HER FAMILY OR AFFILIATES, AND THE CORPORATION MUST BE DISCLOSED PROMPTLY AND TIMELY IN WRITING TO THE BOARD AND APPROVED IN WRITING BY THE BOARD. A WRITTEN RECORD OF THE DISCLOSURE OF AND DESCRIPTION OF THE CONFLICT, ANY DECISIONS ON SUCH CONFLICT, AND ANY WAIVERS OF SUCH CONFLICTS SHALL BE MAINTAINED BY THE BOARD OF TRUSTEES AND BY THE CORPORATION. THE TRUSTEE OR OFFICER WITH THE RELATIONSHIP SHALL NOT BE PRESENT FOR AND SHALL NOT PARTICIPATE IN ANY DISCUSSION OR VOTE IN CONNECTION WITH THE MATTER. THE EXECUTIVE COMMITTEE, BY A MAJORITY VOTE, SHALL HAVE THE RIGHT TO SUSPEND TEMPORARILY OR PLACE ON TEMPORARY LEAVE OF ABSENCE ANY MEMBER OF THE BOARD OF TRUSTEES OR ANY OFFICER WHOM THE COMMITTEE DETERMINES IS ACTING INCONSISTENTLY WITH THE REQUIREMENTS OF THIS CONFLICT OF INTEREST POLICY. THE BOARD OF TRUSTEES, BY A MAJORITY VOTE, MAY SUSPEND, PLACE ON LEAVE OF ABSENCE OR REMOVE ANY MEMBER OF THE BOARD OF TRUSTEES OR ANY OFFICER WHOM THE BOARD DETERMINES IS ACTING INCONSISTENTLY WITH THE REQUIREMENTS OF THIS CONFLICT OF INTEREST POLICY. ANY OFFICER OR MEMBER OF THE BOARD OF TRUSTEES INVOLVED IN AN ISSUE OF WHETHER HE OR SHE HAS OR HAS NOT COMPLIED WITH THE REQUIREMENTS OF THIS CONFLICT OF INTEREST POLICY SHALL NOT PARTICIPATE IN THE DISCUSSION OR IN THE VOTE AT EITHER THE EXECUTIVE COMMITTEE OR AT THE BOARD OF TRUSTEES MEETING. NOT LESS THAN ANNUALLY, EACH TRUSTEE SHALL MAKE WRITTEN DISCLOSURE TO THE CHAIR OF THE COMMITTEE ON TRUSTEES CONFIRMING THAT HE OR SHE HAS REVIEWED THIS CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE HEAD OF SCHOOL IS DETERMINED BY A REVIEW OF THE COMMITTEE ON TRUSTEES. THE REVIEW INCLUDES A PERFORMANCE EVALUATION AND MARKET COMPARISON WITH INDEPENDENT SCHOOLS OF OUR SIZE AND IN OUR GEOGRAPHIC AREA. THIS PROCESS OCCURS ANNUALLY. THE DELIBERATION AND DECISIONS ARE DOCUMENTED. COMPENSATION FOR THE CFO/ASSOCIATE HEAD OF SCHOOL IS DETERMINED BY REVIEWING OTHER SCHOOLS AND INDUSTRY SALARY LEVELS. AN INCREASE IN COMPENSATION IS BASED ON THE SAME PERCENTAGE AS ALL OTHER EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S DOCUMENTS ARE AVAILABLE UPON REQUEST.