2025-05-15T07:32:52-05:00 2024-06-30 042943536 TONNESON & COMPANY PC 401 EDGEWATER PLACE SUITE 300 WAKEFIELD MA 018806208 990 2023-07-01 042103623 ST MARK'S SCHOOL OF SOUTHBOROUGH INC STMA 5087866000 25 MARLBOROUGH ROAD SOUTHBOROUGH MA 01772 ELIZABETH DIONNE CHIEF FINANCIAL OFFICER 5087866000 2025-05-14 1 0 JODY K BOOTH P00963825 7812459999 2025-05-14 2023 2025-03-06 01:10:19Z ELIZABETH DIONNE 25 MARLBOROUGH ROAD SOUTHBOROUGH MA 01772 32858138 0 X WWW.STMARKSSCHOOL.ORG X 1865 MA REFER TO SCHEDULE OST. MARK'S SCHOOL EDUCATES YOUNG PEOPLE FOR LIVES OF LEADERSHIP AND SERVICE. FOUNDED IN 1865 AS AN INTENTIONALLY SMALL RESIDENTIAL COMMUNITY, THE SCHOOL CHALLENGES ITS STUDENTS TO DEVELOP THEIR PARTICULAR ANALYTIC AND CREATIVE CAPABILITIES BY BOTH INSPIRING THEIR ACADEMIC AND SPIRITUAL CURIOSITY AND KINDLING THEIR PASSION FOR DISCOVERY. WE VALUE COOPERATION OVER SELF-INTEREST, AND WE ENCOURAGE EACH PERSON TO EXPLORE HIS OR HER PLACE IN THE LARGER WORLD BEYOND OUR CAMPUS. 32 31 306 20 124506 113546 14546568 5412776 25174138 26134857 -42039 -1846980 582655 925647 40261322 30626300 5701699 5835920 0 0 18444827 20917234 0 0 3342424 18851678 18144200 42998204 44897354 -2736882 -14271054 253209709 255951565 62106289 61030788 191103420 194920777 X REFER TO SCHEDULE O, PAGE 73 0 0 32691897 5835920 26134856 ST. MARK'S SCHOOL OF SOUTHBOROUGH, INC. WAS FOUNDED IN 1865 AND PROVIDES CO-EDUCATIONAL SECONDARY LEVEL EDUCATION TO APPROXIMATELY 375 RESIDENTIAL AND DAY STUDENTS. 830825 752398 AUXILIARY AND OTHER INCOME 830825 752398 33522722 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 0 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 68 0 306 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 32 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X ELIZABETH DIONNE 5087866171 ST MARKS SCHOOL OF SOUTHBOROUGH SOUTHBOROUGH MA 01772 X R WILLIAM BURGESS JR TRUSTEE 4.00 X 0 0 0 FRANCISCO J LOPEZ-BALBOA TRUSTEE 4.00 X 0 0 0 MARK BECHARD TRUSTEE 4.00 X 0 0 0 SONNY CHO TRUSTEE 4.00 X 0 0 0 PATRICIA ALEXANDER TRUSTEE, CLERK 4.00 X 0 0 0 JAMES BARTLETT TRUSTEE 4.00 X 0 0 0 TARAH BREED TRUSTEE 4.00 X 0 0 0 KRISHNA IKA TRUSTEE 4.00 X 0 0 0 REVEREND PRESTON B HANNIBAL TRUSTEE 4.00 X 0 0 0 LAUREN SABET TRUSTEE 4.00 X 0 0 0 RUSSELL B PYNE TRUSTEE 4.00 X 0 0 0 SARAH BENNISON MACHIELS TRUSTEE 4.00 X 0 0 0 JACK LING TRUSTEE 4.00 X 0 0 0 MICHAEL MOORE PRESIDENT 4.00 X X 0 0 0 REUBEN RICHARDS TRUSTEE 4.00 X 0 0 0 MACKIN PULSIFER TRUSTEE 4.00 X 0 0 0 VANESSA RYAN TRUSTEE 4.00 X 0 0 0 ELIZABETH SANTINI TRUSTEE 4.00 X 0 0 0 NICK EVERETT TRUSTEE 4.00 X 0 0 0 PATRICIA BRANCH TRUSTEE 4.00 X 0 0 0 MARISSA RANDAZZO TRUSTEE 4.00 X 0 0 0 RON SARGENT TRUSTEE 4.00 X 0 0 0 MARK VASSALLO TREASURER 4.00 X X 0 0 0 WALTER CLAIR TRUSTEE 4.00 X 0 0 0 MICHELLE DAVIS TRUSTEE 4.00 X 0 0 0 TOM DAVIS TRUSTEE 4.00 X 0 0 0 ELAINE C HARVEY TRUSTEE 4.00 X 0 0 0 JANE HE TRUSTEE 4.00 X 0 0 0 VICTOR LOPEZ-BALBOA TRUSTEE 4.00 X 0 0 0 GELENE M BROWN TRUSTEE 4.00 X 0 0 0 ROBERT RANDAZZO TRUSTEE 4.00 X 0 0 0 JOHN C WARREN HEAD OF SCHOOL 40.00 X 420736 0 16786 ANNE BEHNKE DIRECTOR OF ADMISSION 40.00 X 159269 0 10112 STEPHANIE KATZ DIRECTOR OF MAJOR GIFTS 40.00 X 178708 0 25298 ROBERT M KUKLEWICZ CHIEF FINANCIAL & OPERATIONS OFFICER 40.00 X 292756 0 25298 BEATRIX SANDERS CHIEF ADVANCEMENT OFFICER 40.00 X 297336 0 25298 KENNETH GRIFFIN CHIEF TECHNOLOGY OFFICER 40.00 X 183958 0 25298 1532763 0 128090 40 0 1 0 FLIK INDEPENDENT SCHOOLS 2 INTERNATIONAL DR RYE BROOK NY 10573 FOOD SERVICES 2256073 GEM 224 W TREMONT AVE CHARLOTTE NC 28203 INVESTMENTS MANAGEMENT 691506 AALANCO 80-B TURNPIKE ROAD WESTBOROUGH MA 01581 HEATING AND AIR-CONDITIONING 395829 R P MARZILLI & COMPANY 21A TROTTER DRIVE MEDWAY MA 02053 BUILDING CONTRACTORS 382482 PREFERRED CONTRACTORS INC 223 CENTER STREET PEMBROKE MA 02359 DESIGN BUILD ENGINEERING 309500 18 5412776 1080663 5412776 TUITION 611600 26134857 26134857 26134857 227477 227477 1903 1896383 179977 -1896383 -178074 -2074457 -178074 -1896383 204220 155478 48742 48742 MISCELLANEOUS INCOME 611710 752399 752399 FLOW-THROUGH INCOME FROM SMS IH, 900000 124506 124506 876905 30626300 26709182 124506 -1620164 X 5835920 5835920 467509 467509 15311419 10401398 3301872 1608149 5138306 3497452 1099475 541379 71875 71875 67711 67711 4580722 3641673 708550 230499 1129881 649983 375761 104137 740967 456930 271688 12349 2088076 1428596 575445 84035 703567 530764 88331 84472 456005 257754 160256 37995 1641594 1641594 5260257 4543257 495733 221267 UBIT TAX 31894 31894 SPECIAL FUNCTIONS 619633 172453 52461 394719 MISCELLANEOUS 521384 316640 188342 16402 MEMBERSHIPS AND SUBSCRI 146632 72597 68446 5589 84002 43817 38753 1432 44897354 33522722 8032208 3342424 9281175 3502000 9073054 2420504 316096 269945 148100 144773 797684 773095 182991065 101736967 82594143 81254098 3619353 8970299 147380104 158616851 253209709 255951565 9057054 9682465 3727023 4247257 47438242 46791715 1500000 383970 309351 62106289 61030788 X 49033387 44978407 142070033 149942370 191103420 194920777 253209709 255951565 -14271054 18088411 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 137746846 8726050 15191675 8831081 152833490 133280098 5200240 7395843 8129335 137746846 149239678 6424758 -15960830 6423508 133280098 119842473 1684921 34967988 7255704 149239678 128830560 2487961 -2285301 9190747 119842473 0.11400 0.88600 0 0 1248801 1248801 135061392 72074074 62987318 44929278 29662893 15266385 1751594 1751594 81254098 GEM GREEN FUND 95126601 F AGILITY COMPREHENSIVE SOLUTIONS FUND 61331629 F LEGACY INVESTMENTS 2158621 F 158616851 ANNUITIES PAYABLE 309351 309351 X 43002375 18088411 155478 18243889 24758486 5867814 5867814 30626300 39185018 155478 155478 39029540 5867814 5867814 44897354 PART V, LINE 4: THE PURPOSE OF THE ENDOWMENT IS TO SUPPORT THE EDUCATIONAL MISSION OF ST. MARK'S SCHOOL BY PROVIDING A SUBSTANTIAL, SUSTAINABLE FLOW OF FUNDS TO THE OPERATING BUDGET. THE ENDOWMENT SERVES AS A RELIABLE FINANCIAL RESOURCE FOR BOTH CURRENT AND FUTURE NEEDS. THE ENDOWMENT IS MANAGED WITH THREE PRIMARY OBJECTIVES: TO PROVIDE A RELATIVELY PREDICTABLE AND STABLE REAL (INFLATION-ADJUSTED) SOURCE OF FUNDS TO PROVIDE FOR ANNUAL SPENDING IN SUPPORT OF THE SCHOOL'S OPERATIONS; TO PRESERVE AND ENHANCE THE REAL PURCHASING POWER OF THE ENDOWMENT; AND TO PROVIDE SUPPORT FOR THE SCHOOL'S CAPITAL INVESTMENT NEEDS SHOULD THE COMMITTEE AND BOARD DEEM IT APPROPRIATE. THE ENDOWMENT IS INVESTED AND MANAGED IN ACCORDANCE WITH ITS INVESTMENT POLICY STATEMENT, WHICH ALSO INCLUDES THE SCHOOL'S SPENDING POLICY. THIS POLICY ESTABLISHES A DRAW BASED UPON A ROLLING 12-QUARTER AVERAGE OF ENDOWMENT MARKET VALUES, CALCULATED ON A ONE-YEAR LAG. ALL DISTRIBUTIONS FROM THE ENDOWMENT ARE MADE IN ACCORDANCE WITH THE MASSACHUSETTS UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT (UPMIFA). PER THIS ACT, THE SCHOOL CONSIDERS THE DURATION AND PRESERVATION OF THE ENDOWMENT FUNDS, THE PURPOSES OF THE FUNDS, AND GENERAL ECONOMIC CONDITIONS AT THE TIME OF THE DRAW. PART X, LINE 2: IN DETERMINING THE RECOGNITION OF UNCERTAIN TAX POSITIONS, THE SCHOOL APPLIES A MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD AND DETERMINES THE MEASUREMENT OF UNCERTAIN TAX POSITIONS CONSIDERING THE AMOUNTS AND PROBABILITIES OF THE OUTCOMES THAT COULD BE REALIZED UPON ULTIMATE SETTLEMENT WITH TAXING AUTHORITIES. AS OF JUNE 30, 2024, THE SCHOOL HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: INVENTORY COST OF SALES 155,478. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 5,835,920. UNRELATED BUSINESS INCOME TAX 31,894. PART XII, LINE 2D - OTHER ADJUSTMENTS: INVENTORY COST OF SALES 155,478. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 5,835,920. UNRELATED BUSINESS INCOME TAX 31,894. 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 SCHOOL INCLUDES ITS NONDISCRIMINATORY STATEMENT ON ITS WEBSITE. 1 FINANCIAL AID 104 5835920 PART I, LINE 2: FINANCIAL AID PRIMARILY CONSISTS OF NEED-BASED GRANTS THAT ARE PROVIDED VIA A REDUCTION IN TUITION. IT ALSO INCLUDES TUITION REMISSION FOR EMPLOYEE'S CHILDREN. X 1 0 X X X X X 0 0 0 0 0 0 0 0 0 JOHN C WARREN HEAD OF SCHOOL 420736 0 0 0 0 0 0 0 16786 0 437522 0 0 0 BEATRIX SANDERS CHIEF ADVANCEMENT OFFICER 297336 0 0 0 0 0 0 0 25298 0 322634 0 0 0 ROBERT M KUKLEWICZ CHIEF FINANCIAL & OPERATIONS OFFICER 292756 0 0 0 0 0 0 0 25298 0 318054 0 0 0 KENNETH GRIFFIN CHIEF TECHNOLOGY OFFICER 183958 0 0 0 0 0 0 0 25298 0 209256 0 0 0 STEPHANIE KATZ DIRECTOR OF MAJOR GIFTS 178708 0 0 0 0 0 0 0 25298 0 204006 0 0 0 ANNE BEHNKE DIRECTOR OF ADMISSION 159269 0 0 0 0 0 0 0 10112 0 169381 0 0 0 SCHEDULE J - PART 1 TYPE OF BENEFITS: HOUSING ALLOWANCE NUMBER OF PERSONS LISTED WHO RECEIVED THE BENEFITS: 3 TAXABILITY OF BENEFITS: NON-TAXABLE A BOSTON PRIVATE SERIES 2021A REVENUE BOND 042942314 2021-06-30 32546000 REFINANCE / FINANCE CONSTRUCTION COSTS 0 0 0 B BOSTON PRIVATE SERIES 2021B REVENUE BOND 042942314 2021-06-30 6000000 FINANCE CONSTRUCTION COSTS 0 0 0 C BOSTON PRIVATE SERIES 2021C REVENUE BOND 042942314 2021-06-30 9400000 FINANCE CONSTRUCTION COSTS 0 0 0 A 32546000 512523 231164 8191113 23611200 0 0 1 0 B 50001 5990260 0 0 0 0 C 59019 9400000 0 0 0 0 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 1 0 0 0 0 C 0 0 0 0 0 0 0 0 0 A 1 B 1 C 1 PART I COLUMN (A) PART I COLUMN (A) ROW B - BOSTON PRIVATE SERIES HAD AVAILABLE FINANCING FOR CONSTRUCTION TOTALING $6,000,000 IN THE FORM OF A DRAW-DOWN BOND. PROCEEDS DRAWN AS OF 6/30/2024 AMOUNTED TO $5,990,260. PART I COLUMN (A) ROW C - BOSTON PRIVATE SERIES HAD AVAILABLE FINANCING FOR CONSTRUCTION TOTALING $9,400,000 IN THE FORM OF A DRAW-DOWN BOND. PROCEEDS DRAWN AS OF 6/30/2024 AMOUNTED TO $9,400,000. X 32 1080663 MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING, THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER, THE CONTROLLER, AND HEAD OF SCHOOL. A DRAFT OF THE RETURN IS PROVIDED TO THE FULL BOARD. ANY QUESTIONS ARE REQUESTED TO BE DIRECTED TO THE CHIEF FINANCIAL OFFICER. ONCE REVIEWED, THE FORM 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES ANNUAL DISCLOSURE OF POTENTIAL CONFLICTS OF INTEREST FROM BOARD MEMBERS, MEMBERS OF COMMITTEES, OFFICERS, AND KEY EMPLOYEES. ANY DISCLOSED CONFLICTS ARE REVIEWED BY THE BOARD OR A DESIGNATED COMMITTEE OF THE BOARD, WHICH DETERMINES APPROPRIATE ACTIONS TO MITIGATE OR RESOLVE CONFLICTS. INDIVIDUALS ARE EXPECTED TO DISCLOSE CONFLICTS OF INTEREST IF CHANGES IN CIRCUMSTANCES REQUIRE DISCLOSURE. RECORDS OF DISCLOSURES AND DECISIONS ARE MAINTAINED. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DETERMINES COMPENSATION FOR THE HEAD OF SCHOOL THROUGH A REVIEW PROCESS THAT INCLUDES BENCHMARKING AGAINST COMPARABLE POSITIONS IN SIMILAR ORGANIZATIONS. COMPENSATION DECISIONS ARE MADE BY THE BOARD OR A DESIGNATED COMMITTEE, WHICH CONSIDERS FACTORS SUCH AS EXPERIENCE, RESPONSIBILITIES, AND INDUSTRY STANDARDS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST BY CALLING THE BUSINESS OFFICE. THE FORM 990 AND FINANCIAL STATEMENTS ARE ACCESSIBLE THROUGH PUBLICLY AVAILABLE SOURCES INCLUDING THE MASSACHUSETTS ATTORNEY GENERAL'S OFFICE/WEBSITE. FORM 990, PART IX, LINE 11G CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 3,345,897. MANAGEMENT AND GENERAL EXPENSES 350,071. FUNDRAISING EXPENSES 226,294. TOTAL EXPENSES 3,922,262. OTHER FEES: PROGRAM SERVICE EXPENSES 255,941. MANAGEMENT AND GENERAL EXPENSES 353,634. FUNDRAISING EXPENSES 4,188. TOTAL EXPENSES 613,763. RECRUITING: PROGRAM SERVICE EXPENSES 39,835. MANAGEMENT AND GENERAL EXPENSES 4,845. FUNDRAISING EXPENSES 17. TOTAL EXPENSES 44,697. SMS INVESTMENTS HOLDINGS LP 550 S TRYON STREET SUITE 3500 CHARLOTTE NC 28202 383971009 INVESTMENT PORTFOLIO MANAGEMENT DE ST MARK'S SCHOOL OF SOUTHBOROUGH INC INVESTMENT 0 0 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 SMS INVESTMENTS HOLDINGS LP A K-1 SMS INVESTMENTS HOLDINGS LP S K-1