2022-11-09T15:23:28-06:00 2022-06-30 010523282 Berry Dunn McNeil & Parker LLC 1000 Elm Street 4th Floor Manchester NH 03101 990 2021-07-01 020223317 Brewster Academy BREW 6035697105 80 Academy Drive Wolfeboro NH 03894 Robert Mueller Treasurer 6035697105 2022-11-08 1 Robert Mueller 999009999 Melissa Magoon CPA P01712842 6036697337 2022-11-08 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z Kristy Kerin 80 Academy Drive Wolfeboro NH 03894 34343187 0 X www.brewsteracademy.org X 1887 NH To provide education to residential and day students. 23 23 258 23 32587 0 6388925 6504714 24435109 26181572 502934 -47648 281239 287053 31608207 32925691 6558015 6299925 0 0 11453640 13062172 0 0 898765 8222632 8510187 26234287 27872284 5373920 5053407 87057353 85558593 30188043 27214483 56869310 58344110 We prepare diverse thinkers for lives of purpose. 0 0 22328299 6299925 25007045 Brewster Academy is a private high school that enrolls both boarding and day students. In addition to a broad educational curriculum, the school provides an extensive athletic program. The Brewster program is designed to meet students at their current level of performance and accelerate them in their mastery of skills and knowledge, ensuring that graduates are prepared for the challenges of college and careers and the skills needed for success in the 21st century.Brewster Academy strives to provide an approach to learning that has the exponential power to transform education, communities, and the lives of students in our care 452057 1174527 The Summer Program featured remote and in-person educational programs and conferences during the summer recess, including Royal Thai Scholars. 22780356 1 1 0 0 0 0 0 0 1 1 1 0 0 1 1 0 0 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 65 0 1 258 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 23 23 1 0 1 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH X Brewster Business Office 6035697105 80 Academy Drive Wolfeboro NH 03894 Roy Ballentine Chairman 3.00 X X 0 0 0 Arthur W Coviello Jr Vice Chairman 3.00 X X 0 0 0 Robert Mueller Treasurer 3.00 X X 0 0 0 Carlos Noble Secretary 3.00 X X 0 0 0 Steven Alperin Trustee 2.00 X 0 0 0 Brian Ballentine Trustee 2.00 X 0 0 0 Richard Blackburn Trustee 2.00 X 0 0 0 Karen Boykin-Towns Trustee 2.00 X 0 0 0 Zachary Carlile Trustee 2.00 X 0 0 0 Richard Carlson Trustee 2.00 X 0 0 0 Martha Cassidy Trustee 2.00 X 0 0 0 James Curvey Trustee 2.00 X 0 0 0 George J Dohrmann III Trustee 2.00 X 0 0 0 Karen Fix Trustee 2.00 X 0 0 0 Gabrielle Gatta Sloss Trustee 2.00 X 0 0 0 Peter Grayson Trustee 2.00 X 0 0 0 Joan Hill Trustee 2.00 X 0 0 0 Yong Hak Huh Trustee 2.00 X 0 0 0 Ashley Pettus Trustee 2.00 X 0 0 0 Andrew Reyes Trustee 2.00 X 0 0 0 Rev Nancy Spencer Smith Trustee 2.00 X 0 0 0 Steven Webster Trustee 2.00 X 0 0 0 Richard Wood II Trustee 2.00 X 0 0 0 J Scott Curvey Trustee 2.00 X 0 0 0 Craig Gemmell President 60.00 X 445463 0 87674 Susan Harrington CFO 50.00 X 162434 0 8570 Kristy M Kerin Head of School 60.00 X 330333 0 33121 Peter Gilligan Chief Technology & Ops. Officer 50.00 X 155130 0 28386 Nick Wilbur Director of Admissions 50.00 X 152912 0 27064 Ricardo Careno Assist. Head of School/Global Initiatives 50.00 X 130525 0 15902 Raylene Davis Assistant Head of School Academics 50.00 X 108036 0 14956 Bret Barnett Director of Special Projects 50.00 X 102876 0 14652 Lisa Braiterman Former CFO 0.00 X 136716 0 0 1724425 0 230325 8 1 1 0 Harvey Construction Corporation 10 Harvey Road Bedford NH 03110 General Contractor 8930109 Perkins Paper LLC 630 John Hancock Road Taunton MA 02780 Food Services 433207 Omada Technologies LLC 36 Maplewood Avenue Portsmouth NH 03801 Technology Services 371458 Dewing Schmidt Kearns Architects & Plann 30 Monument Square Concord MA 01742 Architectural Design 281566 McLane Middleton Professional Associati 900 Elm Street Manchester NH 03105 Legal Services 168965 5 1836205 4668509 71568 6504714 Tuition and Fees 611710 23721528 23721528 Summer Programs 611710 1174527 1141940 32587 Instructional Support 611710 881466 881466 Student Related 611710 343424 343424 Miscellaneous Revenue 611710 60627 60627 26181572 306254 306254 1046616 263723 1136795 782893 -1136795 -353902 -353902 25175 16978 8197 8197 Distribution from beneficial trus 900099 278856 278856 278856 32925691 26148985 32587 239405 6299925 6299925 1067596 1067596 9075892 7366032 1147177 562683 520270 394252 95836 30182 1699006 1123689 520547 54770 699408 522329 142645 34434 139561 139561 50505 50505 1443359 1148831 238328 56200 23686 23686 520514 418273 70700 31541 1128544 1112977 7964 7603 421448 375515 37185 8748 360691 299380 61311 1842795 1806143 36652 316513 36561 279952 Dining Hall 807747 752938 19483 35326 Other Expenses 595451 383479 164607 47365 Equipment & Maintenance 577311 457970 89428 29913 Plant Expenses 282062 282062 27872284 22780356 4193163 898765 X 1549849 1616681 17708521 15696442 744367 575730 204245 659126 54117 53498 251751 245660 73560895 27362613 39898563 46198282 15677794 10798873 296291 326291 200001 388061 10471854 8999949 87057353 85558593 2314208 1437748 6510815 6813108 18387301 17910313 98024 68905 176699 0 2700996 984409 30188043 27214483 X 25005028 33422573 31864282 24921537 56869310 58344110 87057353 85558593 X 5053407 -2835476 -743131 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 16615942 283336 -1684944 589083 14625251 12170635 1067179 3937351 559223 16615942 12198521 75135 439040 542061 12170635 11940461 93590 789482 625012 12198521 11303269 698485 585425 646718 11940461 0.00000 0.71529 0.28471 0 0 2285479 2285479 57805308 20268973 37536335 5201260 3577641 1623619 8268848 3515999 4752849 46198282 Deferred Compensation Plans 385164 Beneficial Interest in Perpetual Trust 8268182 Charitable Gift Annuity 346603 8999949 Charitable Gift Annuity 287190 Deferred Compensation Payable 385164 Finance Lease 312055 984409 Part IV, Line 2b: The Organization has custodial fund accounts held for students. Funds are deposited in a debit account and are held on the student's behalf. Part V, Line 4: The Academy's endowment consists of funds established for a variety of purposes, including scholarships and operations. Its endowment includes donor-restricted endowment funds. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 Through newspaper, television, and radio advertising, and in school literature. Bobcat Open 25175 25175 16978 25175 25175 16978 16978 8197 1 Financial Aid 163 6299925 FMV Brewster Academy provides financial aid to students based on need Part I, Line 2: Grants and Other Assistance to Individuals - The Academy provides scholarships to students in need as a reduction in tuition. No funds are transferred to the recipients. Schedule I, Part III, Line F Brewster Academy provides financial aid to students based on need. The amount of financial aid given and the names and addresses of the recipients are on file in the business office. X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 Craig Gemmell President 372711 0 65552 0 7200 0 65231 0 22443 0 533137 0 0 0 Kristy M Kerin Head of School 224375 0 55000 0 50958 0 13350 0 19771 0 363454 0 0 0 Peter Gilligan Chief Technology & Ops. Officer 131130 0 0 0 24000 0 8615 0 19771 0 183516 0 0 0 Nick Wilbur Director of Admissions 131608 0 21304 0 0 0 7293 0 19771 0 179976 0 0 0 Susan Harrington CFO 138434 0 0 0 24000 0 8570 0 0 0 171004 0 0 0 Lisa Braiterman Former CFO 0 0 0 0 136716 0 0 0 0 0 136716 0 136716 0 Part I, Line 1a Housing was provided to President, Head of School, Director of Admissions, Director of Special Projects, Assistant Head of School Academics, and Assistant Head of School for Global Initiatives The Head of School receives a tax gross-up for tuition remission. Part I, Line 4b Craig Gemmell, Head of School, participates in a 457f plan. Brewster Academy contributed $32,000 on his behalf into the plan. Part I, Line 7 Craig Gemmell, President and CEO, Nick Wilbur, Director of Admissions, Kristy Kerin, Head of School, and Ricardo Carreno, Assistant Head of School for Global Initiatives, received a bonus during the year based on goals established in their contracts which were met during the prior year. A New Hampshire Health and Education Facilities Authority 020279866 2020-10-28 18872000 To refinance previous bonds and finance routine capital expenditures 0 0 0 A 847335 18872000 377440 3380702 15113858 1 0 0 1 A 0 0 0 0 0 0 1 A 0 1 0 0 1 0 0 0 1 A 1 X 7 71568 FMV 0 1 0 Form 990, Part VI, Section A, line 2 Roy Ballentine, Board Chair, and Brian Ballentine, Board Trustee, have a family relationship. J. Scott Curvey, Board Trustee, and James Curvey, Board Trustee, have a family relationship. Form 990, Part VI, Section A, line 4 1. Charter updates passed legislation in June 2021 - board voted in August 2021 (subsequent event) 62 Brewster Academy; Composition and Election of Board of Trustees. Amend 1887, 167:3, as amended by 1951, 333:1; 1953, 313:1; 1965, 455:1; 1975, 153:2; and 2010, 5:4 to read as follows: SECT. 3. The board of trustees shall be composed of not less than nine nor more than [twenty-five] thirty members as fixed in Brewster Academy's bylaws, or in the absence of any such bylaw provision, as from time to time expressly determined by resolution of the trustees. Not less than five nor more than twenty-one members shall be elected members as hereinafter provided. Three of the members of the board shall be three trustees under the seventh or residuary clause of the will of John Brewster. The trustees under said will and their several successors in said trust under said will shall each be members of the board of trustees of the Academy for so long as they severally remain trustees under said will. One of the members of the board shall be a representative of the Brewster Academy alumni association who shall serve for one year from the date of his or her election. At each annual meeting approximately one-third of the trustees to be elected shall be elected to serve for three years to succeed those whose terms then expire. The retiring members shall be eligible for reelection but shall have no vote in such election. If a vacancy shall occur among the aforesaid elected trustees or their successors or the trustee from the Brewster Academy alumni association, the board of trustees may elect a trustee to serve for the unexpired balance of the affected term. The head of the academy shall be selected by the board of trustees and may attend meetings of the board of trustees but shall not have a vote therein. Form 990, Part VI, Section A, line 7a Commonwealth of MA has the right to appoint members of the Brewster Trust, who are members of the Board of Trustees under the Charter. Form 990, Part VI, Section B, line 11b The Audit Committee reviews, approves and recommends acceptance of the Form 990 by the Finance Committee. After the review and recommendation to accept the Form 990 by the Audit Committee, the Finance Committee reviews and recommends acceptance of the completed Form 990 to the Board, along with the Audit Committee. Then it is sent to all other board members and the Head of School for their review and approval. Form 990, Part VI, Section B, line 12c All present Trustees and each new Trustee, prior to taking his/her position on the Board shall submit in writing to the Chairman of the Board a list of all businesses or other organizations of which s/he is an officer, director, trustee, member, owner, shareholder, employee or agent, with which Brewster Academy has, or might reasonably in the future enter into, a relationship or transaction in which the Trustee would have conflicting interests. This disclosure shall be provided by each Board Member to the Chairman of the Board on an annual basis. The Chairman of the Board shall become familiar with the statements of all trustees in order to guide appropriate conduct should a conflict arise. Voting - At such time as any matter comes before the Board in such a way as to give rise to a conflict of interest, the affected Trustee shall make known the potential conflict, whether disclosed by his/her written statement or not, and after answering any questions that might be asked of him/her, shall withdraw from the Board meeting for so long as the matter shall continue under discussion. The Conflict of Interest Policy must be signed individually by members of the Board of Trustees, and there is an annual review of the conflict of interest statements. Form 990, Part VI, Section B, line 15 The Board of Trustees retained an employment consultant to determine the salary for the Head of School. The Board of Trustees also reviewed independent benchmarking studies to determine the salary for the President and Head of School. 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. Form 990, Part X, Line 10: Land, Buildings, and Equipment Section 1.263(a)-3(n) Election: Brewster Academy 80 Academy Drive Wolfeboro, NH 03894 EIN 02-0223317 Brewster 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 Charitable Gift Annuity -82,116. Change in Value of Beneficial Interest in Perpetual Trust -677,096. Change in Pledge discounting and Allowance for Pledges 16,081. The John Brewster Trust 1550 Worcester Road 607 Framingham MA 01702 046289100 Perpetual Trust NH N/A T -679596 8268182 0.70000 0 BA International LLC 80 Academy Drive Wolfeboro NH 03894 851684404 Educational Services NH Brewster Academy C 257068 84325 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 BA International LLC O 273927