2021-01-25T13:14:18-06:00 2020-06-30 061009205 BLUM SHAPIRO & COMPANY PC TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2019-07-01 042105750 TOWER SCHOOL IN MARBLEHEAD INC TOWE 7816315800 75 WEST SHORE DRIVE MARBLEHEAD MA 01945 JEFFREY CARTER TREASURER 7816315800 2020-12-17 1 LAURA J KENNEY P00202198 6177170831 2020-12-17 2019 2022-09-23 18:48:47Z JEFFREY CARTER 75 WEST SHORE DRIVE MARBLEHEAD MA 01945 13672527 0 X HTTP://WWW.TOWERSCHOOL.ORG X 1912 MA AN INDEPENDENT DAY SCHOOL SERVING PRE-KINDERGARTEN THROUGH GRADE 8. 19 16 128 200 0 0 1658133 1223713 7990484 8643880 445315 254188 66013 46137 10159945 10167918 1978678 2239389 0 0 5316493 5542872 0 0 678980 2218238 2061372 9513409 9843633 646536 324285 16412499 15430841 8865533 7733445 7546966 7697396 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 7632755 2239389 8352485 THE SCHOOL OPERATES AS A COEDUCATIONAL INDEPENDENT DAY SCHOOL OFFERING A BROAD LIBERAL CURRICULUM FOR GRADES PRE-KINDERGARTEN THROUGH EIGHT. EDUCATED 243 STUDENTS, GRADUATED 23 STUDENTS AND PLACED THEM IN NUMEROUS QUALITY PUBLIC AND PRIVATE SECONDARY SCHOOLS. 214433 285304 THE SUMMER PROGRAM AT TOWER SCHOOL OFFERS A VARIETY OF PROGRAMS FOR CHILDREN AGES 3-16, INCLUDING ART, TECHNOLOGY, ROBOTICS, AND ADVENTURE CAMPS. DURING THE SUMMER OF 2019, 364 STUDENTS ATTENDED THE SUMMER PROGRAM. 38020 6193 PARENTS ASSOCIATION 7885208 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 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 13 0 1 128 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 DEAN SIDELL 7816315800 75 WEST SHORE DRIVE MARBLEHEAD MA 01945 DEAN A SIDELL INTERIM HEAD OF SCHOOL, CFO 60.00 X 252207 0 36794 RYAN BUCKLEY HEAD OF UPPER SCHOOL 40.00 X 101913 0 33780 ALLISON JUVES TRUSTEE 1.00 X 0 0 0 PAIGE HAMILTON TRUSTEE 1.00 X 0 0 0 MARIANNE KANE TRUSTEE 1.00 X 0 0 0 BRADFORD ROBIE TRUSTEE 1.00 X 0 0 0 PAIGE HINTLIAN TRUSTEE 1.00 X 0 0 0 DOROTHY ZUR MUHLEN TRUSTEE 1.00 X 0 0 0 JENNIFER THORNTON TRUSTEE 1.00 X 0 0 0 ANDREW JONES TRUSTEE 1.00 X 0 0 0 ALETHEA MCCORMICK TRUSTEE 1.00 X 0 0 0 KATE BRACKEN TRUSTEE 1.00 X 0 0 0 MATTHEW CARTER TRUSTEE 1.00 X 0 0 0 SOFIA JARRIN-THOMAS TRUSTEE 1.00 X 0 0 0 ANGELO MUNRO TRUSTEE 1.00 X 0 0 0 MATTHEW VELLUTO TRUSTEE 1.00 X 0 0 0 SERENA GIFFORD HEAD OF SCHOOL A/O 1/2020 60.00 X 0 0 0 LEILA BLODGETT TRUSTEE/CHAIRPERSON 2.00 X X 0 0 0 C TAYLOR MILNER TRUSTEE/VICE-CHAIRPERSON 2.00 X X 0 0 0 REBECCA H MCKERNAN SECRETARY 2.00 X X 0 0 0 JEFFREY CARTER TRUSTEE/TREASURER 2.00 X X 0 0 0 ERIC GYLLENBORG CLERK 2.00 X X 0 0 0 354120 0 70574 2 0 1 0 QUIRK CONSTRUCTION CORP ONE MARTEL WAY GEORGETOWN MA 01833 BACKYARD IMPROVEMENT PROJECT 1247382 ME O'BRIEN AND SONS INC 17 TROTTER DRIVE PO BOX 718 MEDWAY MA 02053 BACKYARD LANDSCAPING PROJECT 284469 2 907685 316028 1223713 TUITION AND FEES 611600 8352383 8352383 SUMMER PROGRAM 611600 285304 285304 PARENTS ASSOCIATION 611600 6193 6193 8643880 154807 154807 46035 0 46035 46035 46035 3603990 3482902 21707 121088 -21707 99381 99381 MISCELLANEOUS 611600 102 102 102 10167918 8643982 0 300223 2239389 2239389 401255 140053 94637 166565 3657893 2861000 587211 209682 163101 138662 21688 2751 1064498 940640 82826 41032 256125 204148 41471 10506 6182 6182 29000 29000 36697 36697 148430 40359 92843 15228 20065 2600 17441 24 75737 62967 10074 2696 73516 70786 2616 114 80782 61886 13531 5365 179277 138044 28684 12549 579808 448014 91824 39970 64293 47525 12523 4245 STUDENT ACTIVITIES 267225 236767 22109 8349 MAINTENANCE 217846 166797 36210 14839 BAD DEBT EXPENSE 145191 15338 129853 OTHER GENERAL SCHOOL 46130 28405 10145 7580 91193 57166 26395 7632 9843633 7885208 1279445 678980 408618 328578 672895 144164 46313 43778 30247 58586 17317472 7650965 9029986 9666507 6224440 5189228 16412499 15430841 996780 736189 2445211 1685408 5423542 5303733 0 8115 8865533 7733445 X 4991089 6253159 2555877 1444237 7546966 7697396 16412499 15430841 324285 -173855 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6211764 5813 65343 474 398482 5883964 6494846 19723 312647 2959 612493 6211764 6377099 100882 270632 253767 6494846 5995414 267563 445768 331646 6377099 6145905 378846 465 529802 5995414 0.75830 0.22900 0.01270 0 0 1933052 1933052 1312536 13814537 7508561 7618512 96379 55448 40931 160968 86956 74012 9666507 REFUNDABLE ADVANCE 8115 8115 X 7215184 -173855 -173855 7389039 36697 2742182 2778879 10167918 7064754 0 7064754 36697 2742182 2778879 9843633 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, 2020 AND 2019. INTEREST AND PENALTIES ASSOCIATED WITH UNRECOGNIZED INCOME TAX POSITIONS, IF IDENTIFIED, WILL BE CLASSIFIED AS ADDITIONAL INCOME TAXES ON THE STATEMENT 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 2,739,528. SPECIAL EVENT EXPENSES 2,654. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND TUITION REMISSION 2,739,528. SPECIAL EVENT EXPENSES 2,654. 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 NONDISCRIMINATION POLICY IS LISTED ON THE ORGANIZATION'S WEBSITE AS WELL AS ON ALL ADMISSIONS MATERIALS. SCHEDULE E, PART I, LINE 6 DURING FISCAL YEAR ENDED JUNE 30, 2020 THE SCHOOL RECEIVED A PAYCHECK PROTECTION PLAN LOAN GRANTED BY THE U.S. DEPARTMENT OF TREASURY THROUGH THE SMALL BUSINESS ADMINISTRATION UNDER THE CORONAVIRUS AID, RELIEF AND ECONOMIC SECURITY ACT (CARES ACT). 1 FINANCIAL AID 109 2197303 LEARNING SKILLS FINANCIAL AID 21 42086 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 DEAN A SIDELL INTERIM HEAD OF SCHOOL, CFO 252207 0 0 0 0 0 18628 0 18166 0 289001 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 438739 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 91207 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 WAS LAST FOLLOWED IN THE SUMMER OF 2019. 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.