2019-01-30T14:45:21-06:00 2018-06-30 061009205 BLUM SHAPIRO & COMPANY PC 4 BATTERYMARCH PARK SUITE 100 QUINCY MA 021697431 990 2017-07-01 042105750 TOWER SCHOOL IN MARBLEHEAD INC TOWE 7816315800 75 WEST SHORE DRIVE MARBLEHEAD MA 01945 TAYLOR MILNER TREASURER 7816315800 2019-01-15 1 MICHELLE Y HATCH P01222458 7819821001 2019-01-15 64.251.63.131 2019-01-15 13:44:17 ES P DF8EC6EC51E1FD1DECD3FD9B85C405DAF374F076 C2A8F68C24BA4106533A6CD8C72FD917E7C6626D 2017 2019-02-21 02:37:17Z TAYLOR MILNER 75 WEST SHORE DRIVE MARBLEHEAD MA 01945 8661764 0 X HTTP://WWW.TOWERSCHOOL.ORG X 1912 MA AN INDEPENDENT DAY SCHOOL SERVING PRE-KINDERGARTEN THROUGH GRADE 8. 18 18 132 200 0 0 467440 313962 7621602 7541225 179382 -5795 -32639 -52568 8235785 7796824 2194313 2186265 0 0 4420136 4847784 0 0 441538 2212233 2064836 8826682 9098885 -590897 -1302061 15913964 15322280 7560069 8330103 8353895 6992177 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 6595984 2156254 7287546 THE SCHOOL OPERATES AS A COEDUCATIONAL INDEPENDENT DAY SCHOOL OFFERING A BROAD LIBERAL CURRICULUM FOR GRADES PRE-KINDERGARTEN THROUGH EIGHT. EDUCATED 231 STUDENTS, GRADUATED 25 STUDENTS AND PLACED THEM IN NUMEROUS QUALITY PUBLIC AND PRIVATE SECONDARY SCHOOLS. 196723 30011 233732 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 2017, 269 STUDENTS ATTENDED THE SUMMER PROGRAM. 38762 27812 PARENTS ASSOCIATION 6831469 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 14 0 1 132 0 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MA X DEAN SIDELL 7816315800 75 WEST SHORE DRIVE MARBLEHEAD MA 01945 PETER WEISE TRUSTEE 1.00 X 0 0 0 ALLISON JUVES TRUSTEE 1.00 X 0 0 0 PAIGE HAMILTON TRUSTEE 1.00 X 0 0 0 ERIC GYLLENBORG TRUSTEE 1.00 X 0 0 0 MARIANNE KANE TRUSTEE 1.00 X 0 0 0 ELIZABETH P BRADLEY TRUSTEE 1.00 X 0 0 0 MEGHAN BURKE TRUSTEE 1.00 X 0 0 0 TIMOTHY JOHNSON PHD TRUSTEE 1.00 X 0 0 0 TIMOTHY G MURNANE TRUSTEE 1.00 X 0 0 0 BRADFORD ROBIE TRUSTEE 1.00 X 0 0 0 JEFFREY CARTER 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 JASPAL SINGH TRUSTEE 1.00 X 0 0 0 LEILA BLODGETT TRUSTEE/VICE-CHAIR 1.00 X X 0 0 0 REBECCA H MCKERNAN TRUSTEE/SECRETARY 1.00 X X 0 0 0 JAMES B BYRNE TRUSTEE/CHAIRPERSON 1.00 X X 0 0 0 C TAYLOR MILNER TRUSTEE/TREASURER 1.00 X X 0 0 0 TIMOTHY DELEHAUNTY HEAD OF SCHOOL 60.00 X 94909 0 22513 DEAN A SIDELL ASSOC. HEAD OF SCHOOL, CFO 60.00 X 180182 0 8542 DR ANDREW TAYLOR FORMER HEAD OF SCHOOL 60.00 X 110313 0 50264 385404 0 81319 2 1 1 0 0 3150 310812 313962 TUITION AND FEES 611600 7279681 7279681 SUMMER PROGRAM 611600 233732 233732 PARENTS ASSOCIATION 611600 27812 27812 7541225 175565 175565 3511 67546 -64035 -64035 -64035 606196 406747 380809 199449 -380809 -181360 -181360 13440 3150 9838 3602 3602 MISCELLANEOUS 611600 7865 7865 7865 7796824 7549090 0 -66228 2186265 2186265 405553 121666 180121 103766 3357590 2558013 615802 183775 159940 84029 73161 2750 646951 334771 302383 9797 277750 190201 73501 14048 15086 15086 27200 27200 44725 44725 157354 50460 103635 3259 41967 72 41715 180 69726 36994 30416 2316 72456 54793 14058 3605 93647 71172 17793 4682 136895 104040 26010 6845 539768 410224 102556 26988 37161 28249 7055 1857 STUDENT ACTIVITIES 463567 400092 16379 47096 MAINTENANCE 202120 151470 41148 9502 BAD DEBT EXPENSE 55391 48477 6914 PRINTING, COPY & DESIGN 35718 10698 18808 6212 72055 38260 25849 7946 9098885 6831469 1825878 441538 379596 394976 7012 277721 172800 10146 43553 98290 58730 16241560 7503246 8899010 8738314 6242189 5913907 15913964 15322280 540112 706207 2190441 2381000 3687780 4841604 1141736 401292 7560069 8330103 X 6672531 5313837 349791 298730 1331573 1379610 8353895 6992177 15913964 15322280 -1302061 -59657 0 X 0 1 X 1 0 X 6377099 100882 270632 253767 6494846 5995414 267563 445768 331646 6377099 6145905 378846 465 529802 5995414 6892500 419475 -137547 1028523 6145905 5736217 1061060 345223 250000 6892500 0.77420 0.20580 0.02000 0 0 1933127 1933127 1351951 11776214 7039016 6089149 394358 384131 10227 785910 80099 705811 8738314 5506177 -59657 -59657 5565834 44725 2186265 2230990 7796824 6867895 0 6867895 44725 2186265 2230990 9098885 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 XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID AND TUITION REIMBURSEMENT INVESTMENT FEES PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND TUITION REIMBURSEMENT 2,186,265. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND TUITION REMISSION 2,186,265. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 WE PLACE AN AD WITH THE ASSOCIATION OF INDEPENDENT SCHOOLS IN NEW ENGLAND EACH YEAR IN A MAJOR BOSTON NEWSPAPER. GOLF TOURNAMENT 16590 3150 13440 8287 1551 16590 3150 13440 8287 1551 9838 3602 1 FINANCIAL AID 127 1781089 TUITION REMISSION 15 375165 SUMMER CAMP SCHOLARSHIPS 32 30011 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 ASSOC. HEAD OF SCHOOL, CFO 180182 0 0 0 0 0 5516 0 3026 0 188724 0 0 0 DR ANDREW TAYLOR FORMER HEAD OF SCHOOL 110313 0 0 0 0 0 8984 0 41280 0 160577 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 197454 5114185 74692 1360955 2992068 1370283 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 SCHEDULE K, PART II, LINE 3 THE TOTAL BOND WAS ISSUED FOR $5,798,000 AND OF THAT AMOUNT, THE PROCEEDS TO DATE ARE $5,114,185. 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 15A 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 MAY-JUNE 2017 FOR TIMOTHY DELEHAUNTY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S DOCUMENTS ARE AVAILABLE UPON REQUEST.