2025-05-12T13:54:56-05:00 2024-06-30 871353108 EISNER ADVISORY GROUP LLC 733 THIRD AVENUE NEW YORK NY 100172703 990 2023-07-01 131635286 THE SPENCE SCHOOL SPEN 2122895940 22 EAST 91ST STREET NEW YORK NY 10128 BRUCE OREM DIRECTOR OF FINANCE & OP. 6469436822 2025-05-15 1 0 GINA RACHEL P01216293 2129498700 2023 2025-03-06 01:10:19Z FELICIA A WILKS 22 EAST 91ST STREET NEW YORK NY 10128 65253252 0 X WWW.SPENCESCHOOL.ORG X 1928 NY TO PREPARE A DIVERSE COMMUNITY OF GIRLS/YOUNG WOMEN FOR THE TRANSFORMATION OF SELF AND THE WORLD. 26 26 405 200 918398 16837 6093282 6177522 49201094 50829041 2017525 4769774 745766 1325749 58057667 63102086 7798750 8305820 0 0 40527912 41248538 599 0 2505269 19944812 20315966 68272073 69870324 -10214406 -6768238 386719759 396968006 58981598 60823166 327738161 336144840 WITH A COMMITMENT TO ACADEMIC EXCELLENCE AND PERSONAL INTEGRITY, THE SPENCE SCHOOL PREPARES A DIVERSE COMMUNITY OF GIRLS AND YOUNG WOMEN FOR THE LIFELONG TRANSFORMATION OF SELF AND THE WORLD WITH PURPOSE, PASSION AND PERSPECTIVE. 0 0 59094690 8305820 50829041 THE SPENCE SCHOOL IS AN INDEPENDENT, COLLEGE PREPARATORY DAY SCHOOL PROVIDING AN EDUCATION FOR GIRLS IN GRADES KINDERGARTEN THROUGH 12. 59094690 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 1 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 1 147 0 405 1 1 1 1 CJ 0 0 0 0 0 0 0 0 0 0 X 26 26 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X BRUCE OREM 6469436822 22 EAST 91ST STREET NEW YORK NY 10128 WILLIAM L JACOB III PRESIDENT 10.00 X X 0 0 0 ANAND DESAI VICE PRESIDENT 2.00 X X 0 0 0 KIMBERLY KRAVIS VICE PRESIDENT 2.00 X X 0 0 0 ARTHUR CHU SECRETARY 2.00 X X 0 0 0 HEATHER BERGER TRUSTEE 2.00 X 0 0 0 MICHAEL P CLIFFORD TRUSTEE 2.00 X 0 0 0 VANESSA CORNELL TRUSTEE 2.00 X 0 0 0 ERICA DESAI TRUSTEE 2.00 X 0 0 0 JOSEPH DRAYTON TRUSTEE 2.00 X 0 0 0 ALEXIS MCGILL JOHNSON TRUSTEE 2.00 X 0 0 0 DANA WALLACH JONES TRUSTEE 2.00 X X 0 0 0 KATHRYN KOCH TRUSTEE 2.00 X 0 0 0 MEREDITH RUBEL LIPSHER TRUSTEE 2.00 X 0 0 0 BRYCE MARKUS TRUSTEE 2.00 X 0 0 0 AHRIN MISHAN TRUSTEE 2.00 X 0 0 0 ANYA HERZ SHIVA TRUSTEE 2.00 X 0 0 0 JAMES SHULMAN TRUSTEE 2.00 X 0 0 0 EMILY SPEYER TRUSTEE 2.00 X 0 0 0 JOSE TAVAREZ TRUSTEE 2.00 X 0 0 0 BROOKE WILLIAMS TRUSTEE 2.00 X 0 0 0 DARYL WOUT TRUSTEE 2.00 X 0 0 0 ROBERT FALLON TRUSTEE (AS OF 7/1/23) 2.00 X 0 0 0 ARIELLE NAGLER SHERRILL TRUSTEE (AS OF 7/1/23) 2.00 X 0 0 0 JENNIFER SKYLER TRUSTEE (AS OF 7/1/23) 2.00 X 0 0 0 LOLA LADEINDE TEMPLE TRUSTEE (AS OF 7/1/23) 2.00 X 0 0 0 LISA YVETTE WALLER PHD TRUSTEE (AS OF 7/1/23) 2.00 X 0 0 0 FELICIA WILKS HEAD OF SCHOOL 40.00 X 759003 0 112922 BRUCE OREM DIRECTOR OF FIN. & OP. 40.00 X 492000 0 28946 ELLANOR N BRIZENDINE HEAD OF SCHOOL (THRU 6/30/23) 40.00 X 596820 0 131176 ELYSE WATERHOUSE DIR. OF FIN. & OP. (THRU 6/30/23) 40.00 X 334280 0 33380 KAREN SULLIVAN HEAD OF MIDDLE SCHOOL 40.00 X 317324 0 43735 ELIZABETH CAUSEY HEAD OF LOWER SCHOOL 40.00 X 317274 0 43735 RACHAEL FLORES HEAD OF UPPER SCHOOL 40.00 X 256003 0 53047 ERIC ZAHLER DIR. OF TEACHING / LEARNING 40.00 X 307184 0 52271 MICHELE MURPHY DIRECTOR OF CURRICULUM 40.00 X 303736 0 56277 DANA CROWELL CO-DIR. OF COLLEGE COUNSEL 40.00 X 278438 0 47044 EMILY FINCKE DIRECTOR OF DEVELOPMENT 40.00 X 300363 0 41755 JACOB KOVACH DIRECTOR OF INFORMATION TECHNOLOGY 40.00 X 258513 0 52760 4520938 0 697048 131 0 1 0 NICHOLSON & GALLOWAY INC 261 GLEN HEAD ROAD GLEN HEAD NY 11545 CONSTRUCTION 660749 BUILDING CARE SOLUTIONS INC 38 GLENDALE AVENUE STATEN ISLAND NY 10304 CLEANING SERVICES 346841 GREEN ONE Q CORP PO BOX 580065 FLUSHING NY 113580065 CLEANING SERVICES 339551 MARIO'S TRANSPORTATION INC 225 60TH STREET BROOKLYN NY 11220 TRANSPORTATION 310732 BALDOR SPECIALTY FOODS INC PO BOX 5411 NEW YORK NY 100875411 FOOD SERVICES 303587 5 1180679 733162 4263681 1175414 6177522 TUITION 611710 48468061 48468061 AFTERSCHOOL PROGRAM 611710 1016875 1016875 STUDENT FEES 611710 583719 583719 MUSIC PROGRAM FEES 611710 476550 476550 OTHER PROGRAM SERVICE REVENUE 611710 283836 283836 50829041 3352428 3352428 814165 404569 409596 409596 5027 404569 2899345 1447037 34962 1452308 -34962 1417346 -2782 1420128 264598 1180679 264598 0 SQUASH MEMBERSHIP AND OTHER 531390 979790 979790 PASS THRU GAIN-LTD PARTNERSHIPS 525990 -63637 -63637 916153 63102086 50829041 918398 5177125 8305820 8305820 3630043 3075509 554534 28517790 25194972 1969512 1353306 2068908 1852677 142307 73924 4747935 4251707 326579 169649 2283862 2045165 157092 81605 459529 459529 103369 103369 511833 511833 1407664 843664 391468 172532 434643 168105 9250 257288 910516 739100 121239 50177 1119301 361080 689207 69014 2672705 2175815 487728 9162 890525 813739 57646 19140 1154760 828731 147681 178348 632855 506284 126571 6651541 5321233 1330308 656945 525556 131389 OTHER EXPENSES 1814551 1190304 553123 71124 FOOD SERVICE 895229 895229 69870324 59094690 8270365 2505269 2035 2039 32365335 29187599 4753065 1805385 575964 729600 21397 20478 3259594 812773 291117602 91544691 201636718 199572911 95198074 113068965 48081981 50973552 825596 794704 386719759 396968006 2050899 2266615 26535699 28470391 30395000 30086160 58981598 60823166 X 194912831 193960832 132825330 142184008 327738161 336144840 386719759 396968006 X -6768238 15334140 -159223 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 140272574 200594 18346566 -6675000 152144734 139930945 1362898 5089731 -6111000 140272574 150331851 5188559 -10431969 5157496 139930945 109817217 2070764 42975870 4532000 150331851 90144262 21641691 2267264 4236000 109817217 0.07258 0.63061 0.29681 0 0 30693288 30693288 248214355 81741928 166472427 12209959 9802763 2407196 199572911 HEDGE FUNDS 6770659 F PRIVATE EQUITY FUNDS 44202893 F 50973552 X 69618573 15334140 15334140 54284433 511833 8305820 8817653 63102086 61211894 159223 159223 61052671 511833 8305820 8817653 69870324 PART V, LINE 4: THE SCHOOL'S ENDOWMENT CONSISTS OF BOTH INDIVIDUAL DONOR-RESTRICTED FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENT. THE ENDOWMENT FUNDS OF THE SCHOOL ARE INTENDED TO BE USED TO SUPPORT ITS LONG-TERM MISSION. PART X, LINE 2: THE SCHOOL IS SUBJECT TO THE PROVISIONS OF THE FINANCIAL ACCOUNTING STANDARDS BOARD'S (THE "FASB") ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, INCOME TAXES, AS IT RELATES TO ACCOUNTING AND REPORTING FOR UNCERTAINTY IN INCOME TAXES. FOR THE SCHOOL, THESE PROVISIONS COULD BE APPLICABLE TO THE INCURRENCE OF UNRELATED BUSINESS INCOME TAX ATTRIBUTABLE TO CERTAIN OF THE SCHOOL'S PASS-THROUGH INVESTMENT ACTIVITIES AND RENTAL INCOME ACTIVITIES. HOWEVER, DUE TO THE SCHOOL'S GENERAL TAX-EXEMPT STATUS, ASC TOPIC 740 HAS NOT HAD, AND IS NOT EXPECTED TO HAVE, A MATERIAL IMPACT ON THE SCHOOL'S FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID WHICH WAS NETTED FOR FINANCIAL REPORTING PURPOSES. 8,305,820. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON UNCOLLECTIBLE PLEDGES. 159,223. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID WHICH WAS NETTED FOR FINANCIAL REPORTING PURPOSES. 8,305,820. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL PUBLICIZES ITS NON-DISCRIMINATION POLICY ON ITS WEBSITE. SCHEDULE E, PART I, LINE 6 THE SCHOOL RECEIVES AN APPROPRIATION FROM THE NEW YORK STATE DEPARTMENT OF EDUCATION FOR THE PERFORMANCE OF MANDATED SERVICES AND FUNDING FOR SAFETY EQUIPMENT. IN ADDITION, THE SCHOOL RECEIVED A GRANT FROM NYC FOR SECURITY SERVICES THROUGH THE DEPARTMENT OF CITYWIDE ADMINISTRATIVE SERVICES (DCAS) AS PART OF THE NONPUBLIC SCHOOL SECURITY REIMBURSEMENT PROGRAM. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, INVESTMENTS 8770158 0 0 0 0 0 0 8770158 0 8770158 1 0 0 0 1 0 PART I, LINE 3: AMOUNT REPORTED USING THE ACCRUAL METHOD OF ACCOUNTING. PART IV, LINES 1: FORM 926: THE SCHOOL WAS A U.S. TRANSFEROR OF PROPERTY TO A FOREIGN CORPORATION DURING THE TAX YEAR. PART IV, LINES 5: FORM 8865: THE SCHOOL HAD AN OWNERSHIP INTEREST IN FOREIGN PARTNERSHIPS DURING THE TAX YEAR. PARENTS ASSOC. BEN. 1445277 1180679 264598 184500 9100 70998 1445277 1180679 264598 184500 9100 70998 264598 0 1 FINANCIAL AID PROVIDED TO STUDENTS 162 8305820 FAIR MARKET VALUE TUITION REDUCTION PART I, LINE 2 THE SPENCE SCHOOL REQUESTS THAT FAMILIES APPLYING FOR NEED-BASED FINANCIAL AID ANNUALLY SUBMIT THE PARENTS' FINANCIAL STATEMENTS TO SCHOOL AND STUDENT SERVICES BY THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS ("NAIS"), AS WELL AS PROVIDE COPIES OF FINANCIAL INFORMATION, SUCH AS TAX RETURNS AND W-2 FORMS. ALL GRANTS OF FINANCIAL AID ARE APPLIED TO A RECIPIENT'S OUTSTANDING TUITION CHARGES. X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 FELICIA WILKS HEAD OF SCHOOL 759003 0 0 0 0 0 82719 0 30203 0 871925 0 0 0 ELLANOR N BRIZENDINE HEAD OF SCHOOL (THRU 6/30/23) 596820 0 0 0 0 0 124072 0 7104 0 727996 0 0 0 BRUCE OREM DIRECTOR OF FIN. & OP. 492000 0 0 0 0 0 28194 0 752 0 520946 0 0 0 ELYSE WATERHOUSE DIR. OF FIN. & OP. (THRU 6/30/23) 334280 0 0 0 0 0 26707 0 6673 0 367660 0 0 0 KAREN SULLIVAN HEAD OF MIDDLE SCHOOL 317324 0 0 0 0 0 28776 0 14959 0 361059 0 0 0 ELIZABETH CAUSEY HEAD OF LOWER SCHOOL 317274 0 0 0 0 0 28776 0 14959 0 361009 0 0 0 MICHELE MURPHY DIRECTOR OF CURRICULUM 303736 0 0 0 0 0 28776 0 27501 0 360013 0 0 0 ERIC ZAHLER DIR. OF TEACHING / LEARNING 307184 0 0 0 0 0 28776 0 23495 0 359455 0 0 0 EMILY FINCKE DIRECTOR OF DEVELOPMENT 300363 0 0 0 0 0 27657 0 14098 0 342118 0 0 0 DANA CROWELL CO-DIR. OF COLLEGE COUNSEL 278438 0 0 0 0 0 25618 0 21426 0 325482 0 0 0 JACOB KOVACH DIRECTOR OF INFORMATION TECHNOLOGY 258513 0 0 0 0 0 23663 0 29097 0 311273 0 0 0 RACHAEL FLORES HEAD OF UPPER SCHOOL 256003 0 0 0 0 0 22844 0 30203 0 309050 0 0 0 PART I, LINE 1A THE SCHOOL PROVIDES HOUSING TO THE HEAD OF SCHOOL. THE HOUSING BENEFIT IS PART OF THE EMPLOYMENT CONTRACT OF THE HEAD OF SCHOOL. PART I, LINE 3 COMPENSATION: A SUBCOMMITTEE OF THE BOARD OF TRUSTEES DETERMINES THE ANNUAL COMPENSATION FOR THE HEAD OF THE SCHOOL. A COMPENSATION COMMITTEE COMPRISED OF STAFF AND BOARD MEMBERS RECOMMENDS TO THE BOARD AN OVERALL PERCENTAGE FOR COMPENSATION INCREASES. THE COMMITTEE THEN ALLOCATES TO THE SALARY SCALE FOR TEACHING STAFF. THE HEAD OF THE SCHOOL DETERMINES SALARIES FOR NON-TEACHING STAFF WITHIN THE OVERALL INCREASE APPROVED. SALARIES ARE DETERMINED BASED ON PUBLISHED COMPARABLE SALARY INFORMATION FOR SIMILAR SCHOOLS IN THE AREA. PART I, LINE 4B THE SCHOOL MAINTAINS BOTH THE SECTION 457(B) AND 457(F) DEFERRED-COMPENSATION PLANS FOR ITS HEAD OF SCHOOL. THE AMOUNT CONTRIBUTED TO THESE PLANS BY THE SCHOOL WAS $54,775. IN 2023, THE FORMER HEAD OF SCHOOL RECEIVED A PAYMENT IN THE AMOUNT OF $1,200,000 FROM A 457(F) PLAN THAT SHOULD HAVE BEEN PAID AND REPORTED AS INCOME IN JULY 2021. THIS ERROR WAS CORRECTED IN FISCAL-YEAR 2025 AND THE PAYMENT IS NOW REPORTED ON HER AMENDED W-2 FOR 2022. THE SCHOOL IS FILING ALL FORMS REQUIRED AS A RESULT OF THIS INCOME. A BUILD NYC RESOURCE CORPORATION 454040561 2022-02-28 30395000 EXPANSION/ACQUISITION OF SPACE 0 0 0 A 30395000 836666 0 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 0 0 0 0 1 A 1 SEE SUPP INFORMATION BOARD MEMBERS 56543 GRANTS FINANCIAL AID PART III, LINE 1: AS PART OF THE SCHOOL'S EFFORTS TO SUPPORT ECONOMIC DIVERSITY AND TO PROVIDE ASSISTANCE TO ANY AND ALL COMMUNITY MEMBERS WITH DEMONSTRATED NEED, DURING THE 23-24 SCHOOL YEAR, THE SCHOOL PROVIDED AN AGGREGATE OF $56,543 IN FINANCIAL AID TO TWO BOARD OF TRUSTEES MEMBERS. X 74 1175414 COMPARABLE SALES 0 1 0 PART I, COLUMN (B): THE AMOUNT REPORTED REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES ANAND DESAI AND ERICA DESAI ARE HUSBAND AND WIFE. FORM 990, PART VI, SECTION B, LINE 11B THE FORMS 990, 990-T AND APPLICABLE STATE FILINGS ARE DISTRIBUTED TO THE FULL BOARD OF TRUSTEES FOR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST STATEMENTS ARE DISTRIBUTED ANNUALLY FOR COMPLETION TO ALL TRUSTEES AND KEY EMPLOYEES AT A BOARD MEETING AND COLLECTED AT THE END OF THE MEETING. THE ASSISTANT TO THE HEAD OF SCHOOL FOLLOWS UP WITH ANY TRUSTEES WHO WERE NOT PRESENT. FORM 990, PART VI, SECTION B, LINE 15 THE HEAD OF SCHOOL'S COMPENSATION IS REVIEWED AND APPROVED BY THE OFFICERS OF THE BOARD OF TRUSTEES BASED UPON COMPARATIVE DATA PUBLISHED BY PEER SCHOOLS AND THEN RATIFIED BY THE BOARD OF TRUSTEES. THE HEAD OF SCHOOL ALSO HAS A WRITTEN EMPLOYMENT AGREEMENT. THE COMPENSATION OF THE DIRECTOR OF FINANCE AND OPERATIONS AND KEY EMPLOYEES IS REVIEWED BY THE HEAD OF SCHOOL AND THE PRESIDENT OF THE BOARD OF TRUSTEES. COMPARATIVE DATA FROM PEER SCHOOLS IS USED TO MAKE SURE COMPENSATION IS AT CURRENT MARKET RATES. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES THE FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: LOSS ON UNCOLLECTIBLE PLEDGES -159,223.