2019-05-14T11:16:37-05:00 2018-06-30 061009205 BLUM SHAPIRO & COMPANY PC ONE INTERNATIONAL PLACE 16TH FL BOSTON MA 02110 990 2017-07-01 042103632 TABOR ACADEMY TABO 5087482000 66 SPRING STREET MARION MA 02738 STEPHEN P SANFORD CFO 5087482000 2019-05-12 1 LAURA J KENNEY P00202198 6177170831 2019-05-12 64.251.63.131 2019-05-12 19:42:32 ED P 7B14BF2BF8F8AC217E314A41F868DB69370B8F6F C2A8F68C24BA4106533A6CD8C72FD917E7C6626D 2017 2019-02-21 02:37:17Z JOHN H QUIRK 66 SPRING STREET MARION MA 02738 44692635 0 X WWW.TABORACADEMY.ORG X 1876 MA A COEDUCATIONAL COLLEGE PREPARATORY FOR STUDENTS. BOARDING AND DAY SCHOOL THAT PROVIDES DISTINCTIVE OPPORTUNITIES FOR STUDENTS. 21 21 386 23 -9777 -21027 3605917 5144347 29086333 30432039 1767294 1392877 0 0 34459544 36969263 7437280 8298025 0 0 17165420 17660686 0 0 2023481 16937180 15249869 41539880 41208580 -7080336 -4239317 112636338 109555160 33103853 30067916 79532485 79487244 TABOR ACADEMY FOCUSES ITS ACADEMIC PROGRAMS TO INSPIRE A LIFE-LONG LOVE OF LEARNING, TO INSTILL A PASSION FOR THE HIGHEST STANDARDS OF ACHIEVEMENT, TO ENCOURAGE PERSONAL RESPONSIBILITY, AND TO FOSTER CARE FOR OTHERS AND COMMITTED CITIZENSHIP. 0 0 31386758 8298025 30146262 TABOR ACADEMY EDUCATES APPROXIMATELY 500 STUDENTS. AS THE "SCHOOLBY THE SEA," TABOR SUSTAINS A UNIQUE MARITIME HERITAGE THATEMBODIES, IN ALL ITS PROGRAMS, THE QUALITIES A SEAGOING LIFEREQUIRES: THOUGHTFUL PREPARATION FOR, AND AWARENESS OF THE WIDERWORLD, PERSEVERANCE, COURAGE, GOOD HUMOR, A SENSE OF DIRECTION,AND HUMILITY. TABOR'S FACULTY COMMIT THEMSELVES TO BALANCING HIGHDEMANDS WITH GENUINE AFFECTION FOR THEIR STUDENTS AND TO FOSTERINGRELATIONSHIPS FOUNDED ON THE COMPASSION, PERSONAL INTEGRITY, ANDTRUST THAT ANCHOR TABOR'S COMMUNITY. 207185 285777 TABOR ACADEMY PROVIDES ACCOMODATIONS AND AUXILIARY SERVICES FORBOARDING STUDENTS AS A PART OF THEIR EDUCATION. THESE SERVICES AREPROVIDED AT A NOMINAL FEE IN ORDER TO COVER COSTS. SUCH SERVICESRANGE FROM THE PROVISION OF UTILITIES TO RECREATIONAL ACTIVITIES. 31593943 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 0 1 0 1 0 1 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 0 0 0 1 134 0 1 386 1 1 1 0 0 0 0 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X STEPHEN P SANFORD 5082918370 66 SPRING STREET MARION MA 02738 CLEMENT C BENSON TRUSTEE 1.00 X 0 0 0 STEPHEN DANIEL TRUSTEE 1.00 X 0 0 0 ANTHONY G FEATHERSTONE IV TRUSTEE 1.00 X 0 0 0 PETER T FRANCIS TRUSTEE 1.00 X 0 0 0 KRISTIANE C GRAHAM TRUSTEE 1.00 X 0 0 0 ANGUS H LEARY TRUSTEE 1.00 X 0 0 0 KENZO MATSUMURA TRUSTEE 1.00 X 0 0 0 JENNIFER C NOERING MCINTIRE TRUSTEE 1.00 X 0 0 0 TRAVIS ROY TRUSTEE 1.00 X 0 0 0 GARRARD K SCHAEFER TRUSTEE 1.00 X 0 0 0 REGINA SHAKIN TRUSTEE 1.00 X 0 0 0 JACK B SMITH JR TRUSTEE 1.00 X 0 0 0 PHILLIPS G SMITH TRUSTEE 1.00 X 0 0 0 JAMES A TOMLINSON TRUSTEE 1.00 X 0 0 0 SUMNER J WARING TRUSTEE 1.00 X 0 0 0 LOUIS S WOLFE TRUSTEE 1.00 X 0 0 0 GEOFFREY H WORRELL TRUSTEE 1.00 X 0 0 0 CARMINE A MARTIGNETTI TRUSTEE/CHAIRMAN 2.00 X X 0 0 0 PAUL J MURPHY TRUSTEE/VICE-CHAIR 2.00 X X 0 0 0 DAVID A BARRETT TRUSTEE/TREASURER 2.00 X X 0 0 0 ELIZABETH WELSH EYLER TRUSTEE/SECRETARY 2.00 X X 0 0 0 JOHN H QUIRK HEAD OF SCHOOL 40.00 X 292505 0 150107 CHRISTOPHER J WINSLOW CFO 40.00 X 233730 0 51088 PATRICK J O'CONNELL DIRECTOR OF ADVANCEMENT 40.00 X 213077 0 34549 JULIE SALIT FACULTY HEAD & SCHOOL AFFA 40.00 X 121434 0 48797 ANDREW L MCCAIN DIRECTOR OF ADMISSIONS 40.00 X 122150 0 115728 TIMOTHY FREY MANAGER OF IT 40.00 X 124401 0 28584 TIMOTHY M CHENEY DIRECTOR OF COLLEGE COUNSELING 40.00 X 106119 0 127058 BARBARA KREIN DIRECTOR OF ADMISSIONS 40.00 X 105768 0 51754 PAUL C WHITE FACULTY & FORMER BUSN MGR 40.00 X 264501 0 11333 1583685 0 618998 9 1 1 0 ROPES & GRAY 800 BOYLSTON ST BOSTON MA 02199 LEGAL SERVICES 988053 SJ SERVICES 235 NEWBURY ST DANVERS MA 01923 CUSTODIAL SERVICES 243134 SALTONSTALL ARCHITECTS INC 380 WAREHAM ST MARION MA 02738 ARCHITECTURAL SERVICES 238201 T&M PROTECTIONS RESOURCESLLC PO BOX 5218 NEW YORK NY 100085218 CRISIS MANAGEMENT 214300 GRANT THORNTON LLP 3960 TREASURY CENTER CHICAGO IL 606943900 AUDITING SERVICES 142210 6 5144347 1118437 5144347 TUITION 611710 28322600 28322600 STUDENT AND SUMMER PROGRAMS 611710 1519388 1519388 AUXILIARY ACTIVITIES 611710 590051 590051 30432039 453033 -9927 462960 8663216 7374242 349130 1288974 -349130 939844 150 939694 36969263 30432039 -9777 1402654 8298025 8298025 610328 339248 271080 12656168 9989874 1552001 1114293 1252013 988249 153532 110232 2207994 1742833 270762 194399 934183 737377 114557 82249 803439 803439 131269 131269 368719 368719 2194279 1987856 160082 46341 196818 166414 30404 875415 556197 248668 70550 428347 384854 43493 3005884 3005884 255444 99590 57653 98201 40566 3080 29249 8237 563253 563253 2556491 2017912 313497 225082 293029 293029 INSTRUCTION 1043019 1043019 LEGAL SETTLEMENT 985000 985000 ADMINISTRATIVE 724098 724098 OTHER EXPENSES 445548 445548 339251 339251 41208580 31593943 7591156 2023481 7565574 4140733 2728881 319057 2663833 2548607 495849 289007 156205 146573 592768 609307 80280460 38675953 40386570 41604507 22286428 27686076 16609015 12453115 19151215 19758178 112636338 109555160 2537395 3287074 13345039 13079188 1285450 816276 15935969 12885378 33103853 30067916 X 18431060 15300438 42169135 44652122 18932290 19534684 79532485 79487244 112636338 109555160 X -4239317 2002465 2191611 X 0 1 X 1 0 X 10433493 3209628 3691745 3605917 5144347 26085130 10433493 3209628 3691745 3605917 5144347 26085130 1273601 24811529 320919 622821 867390 879233 453033 3143396 29228526 140995220 0.84890 0.84550 X 46810972 415225 3461172 780881 887028 216112 48803348 42992118 460564 5156089 697933 894067 205799 46810972 42831138 1153892 -789631 45067 158214 42992118 41100435 2442548 778155 660979 612317 216704 42831138 36506097 758254 5503587 647998 841652 177853 41100435 0.16620 0.83380 0.00000 0 0 786259 786259 64415170 30195281 34219889 3633988 1705589 1928399 10788629 6775083 4013546 656414 656414 41604507 INVESTMENT IN PARTNERSHIPS 12453115 F 12453115 BENEFICIAL INTEREST IN PERPETUAL TRUST 17947746 STOCK IN TRANSIT 377641 LOANS TO EMPLOYEES 5115 OTHER RECEIVABLES 44398 BENEFICIAL INTEREST IN CHARITABLE REMAINDER TRUST 1383278 19758178 ADVANCED TUITION AND DEPOSIT 8239636 INTEREST RATE SWAP AGREEMENT 1092428 ACCRUED PENSION LIABILITIES 688844 ANNUITIES PAYABLE 695642 ACCRUED LITIGATION EXPENSES 2168828 12885378 32632865 2002465 2191611 4194076 28438789 232449 8298025 8530474 36969263 32678106 0 32678106 232449 8298025 8530474 41208580 PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 772,512. CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT 633,139. PENSION RELATED COSTS 785,960. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 8,298,025. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 8,298,025. SCHEDULE D, PART V, LINE 4 ENDOWMENT SERVES TO SUPPORT SCHOLARSHIPS, FACULTY, ACADEMIC AND EXTRACURRICULAR PROGRAMS, AND GENERAL ADMINISTRATION OF THE SCHOOL. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 PART I, LINE 3 TABOR IS FOUNDED ON THE BELIEF THAT A HEALTHY SCHOOL COMMUNITY FINDS COMMON GROUND WHILE EMBRACING DIFFERENCES AND, THEREFORE, ACCEPTS A RACIALLY, ETHNICALLY, RELIGIOUSLY, ECONOMICALLY, AND INTERNATIONALLY DIVERSE STUDENT BODY. TO CULTIVATE AND SUSTAIN A MORE DIVERSE AND INCLUSIVE COMMUNITY, TABOR ACADEMY RECOGNIZES THAT OUR SUCCESS AS A 21ST CENTURY SCHOOL IS EMBEDDED IN A GENUINE UNDERSTANDING OF HOW THE COMPONENTS OF DIVERSITY REFLECT THE CORE VALUES OF OUR MISSION, WHICH IS ROOTED IN COMPASSION, RESPECT, TRUST, HONESTY, AND PERSONAL RESPONSIBILITY. DIVERSITY AT TABOR ENCOMPASSES RACE, ETHNICITY, GENDER, SOCIO-ECONOMIC STATUS, RELIGION, INTELLECTUAL AND PHYSICAL ABILITY, GENDER EXPRESSION, SEXUAL ORIENTATION, AGE, FAMILY STRUCTURE, LANGUAGE AND GEOGRAPHIC PLACE OF ORIGIN. WE RECOGNIZE THAT THE ESTABLISHMENT OF POLICIES, PRACTICES, AND PROGRAMS THAT SUPPORT THE INTERCONNECTEDNESS OF THESE CULTURAL IDENTIFIERS AND FURTHER DEVELOP THE CULTURAL COMPETENCY OF OUR COMMUNITY'S MEMBERS WILL ALLOW FOR TRUE DIALOGUE AND COLLABORATION WITHIN OUR SCHOOL AND WITH LOCAL, REGIONAL, NATIONAL, AND INTERNATIONAL COMMUNITIES. TO THAT END, WE COMMIT OURSELVES TO BEING A COMMUNITY IN WHICH ALL MEMBERS HAVE VOICE, ARE GIVEN RESPECT, AND SEE THEIR IDENTITIES REFLECTED AND AFFIRMED IN THE CURRICULUM, CO-CURRICULUM AND PHYSICAL AND VIRTUAL ENVIRONMENTS OF THE SCHOOL. TABOR ACADEMY PROMULGATES EACH YEAR, ITS NONDISCRIMINATORY POLICIES THROUGH SEVERAL ADS IN LOCAL AND REGIONAL NEWSPAPERS DURING THE PERIOD OF SOLICITATION OF STUDENTS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 250000 0 0 0 0 0 0 250000 0 250000 0 0 0 1 1 0 1 FINANCIAL AID 211 8298025 PART I, LINE 2: ALL GRANTS ARE SCHOLARSHIPS AWARDED BY DEMONSTRATED NEED IN THE FORM OF TUITION REMISSION, AND THEY CAN ONLY BE USED TO REDUCE THE AMOUNT OF THE TUITION OWED BY A GIVEN FAMILY FOR AN ACADEMIC YEAR. NEED IS DETERMINED BY ANALYZING TAX FORMS AND/OR OTHER INFORMATION FROM SCHOOL SCHOLARSHIP SERVICE, PRINCETON,NJ. X X X X X 1 1 X X X X 1 0 0 0 0 0 0 0 0 JOHN H QUIRK HEAD OF SCHOOL 292505 0 0 0 0 0 51550 0 98557 0 442612 0 0 0 CHRISTOPHER J WINSLOW CFO 208772 0 0 0 24958 0 14920 0 36168 0 284818 0 0 0 PATRICK J O'CONNELL DIRECTOR OF ADVANCEMENT 213077 0 0 0 0 0 13493 0 21056 0 247626 0 0 0 JULIE SALIT FACULTY HEAD & SCHOOL AFFA 121434 0 0 0 0 0 10200 0 38597 0 170231 0 0 0 ANDREW L MCCAIN DIRECTOR OF ADMISSIONS 122150 0 0 0 0 0 15270 0 100458 0 237878 0 0 0 TIMOTHY FREY MANAGER OF IT 124401 0 0 0 0 0 12535 0 16049 0 152985 0 0 0 TIMOTHY M CHENEY DIRECTOR OF COLLEGE COUNSELING 106119 0 0 0 0 0 7959 0 119099 0 233177 0 0 0 BARBARA KREIN DIRECTOR OF ADMISSIONS 105768 0 0 0 0 0 7925 0 43829 0 157522 0 0 0 PAUL C WHITE FACULTY & FORMER BUSN MGR 36501 0 0 0 228000 0 4800 0 6533 0 275834 0 0 0 PART I, LINE 1A FIRST CLASS TRAVEL INTERNATIONAL AIR TRAVEL - THE HEAD OF SCHOOL (HOS) AND DIRECTOR OF ADVANCEMENT MAY TRAVEL VIA FIRST CLASS ON OVERSEAS TRIPS (MORE THAN 7 HOURS) BUT ONLY IF TRAVEL REWARD PROGRAMS CAN BE USED THEREFORE LOWERING COST. TRAVEL BY TRAIN - THE HOS AND DIRECTOR OF ADVANCEMENT ON OCCASION USE AMTRAK FIRST CLASS TRAVEL TO NYC FOR BOARD AND ADVANCEMENT MEETINGS. USE OF TRAIN FIRST CLASS SIGNIFICANTLY IMPROVES WORK PRODUCTIVITY AND THE COST DIFFERENCE IS MINIMAL. THESE ARE NOT CONSIDERED TAXABLE TO THE HEAD OF SCHOOL AND DIRECTOR OF ADVANCEMENT. TRAVEL FOR COMPANIONS ON A LIMITED BASIS, THE HEAD OF SCHOOL'S SPOUSE ACCOMPANIES HIM AT SCHOOL RELATED EVENTS AS A REPRESENTATIVE OF THE ACADEMY. THIS BENEFIT IS NOT CONSIDERED TAXABLE INCOME TO THE HEAD OF SCHOOL. HOUSING AND PERSONAL SERVICES CONSISTENT WITH THE ACADEMY'S UNIQUE BOARDING SCHOOL ENVIRONMENT, THE ACADEMY PROVIDES A RESIDENCE FOR PERSONAL USE FOR MULTIPLE PERSONNEL. PURSUANT TO HIS EMPLOYMENT CONTRACT, THE HEAD OF SCHOOL IS REQUIRED TO LIVE IN CLOSE PROXIMITY TO CAMPUS TO SERVE HIS DUTIES AND RESPONSIBILITIES TO THE ACADEMY, INCLUDING ENTERTAINING STDENTS, FACULTY, AND OTHER CONSTITUENTS, AND TO PROVIDE GUIDANCE AND A SAFE, WELCOMING LEARNING ENVIRONMENT FOR STUDENTS. THE RESIDENCE IS FURNISHED FOR THE CONVENIENCE OF THE ACADEMY AND IS REPORTED AS NON-TAXABLE COMPENSATION ON SCHEDULE J PART II, COLUMN D. IN ADDITION, THE ACADEMY PROVIDES HOUSING FOR THE CFO, DIRECTOR OF ADVANCEMENT, ASSISTANT HEAD OF SCHOOL AND DIRECTOR OF ADMISSIONS AND THE BENEFIT IS REPORTED AS NON-TAXABLE COMPENSATION ON SCHEDULE J PART II, COLUMN D. THE ACADEMY IS RESPONSIBLE FOR MAINTAINING THE RESIDENCE FOR THE HEAD OF SCHOOL. THIS MAINTENANCE IS PROVIDED FOR THE BENEFIT OF THE ACADEMY AND IS NOT CONSIDERED TAXABLE INCOME TO THE HEAD OF SCHOOL. SOCIAL CLUB DUES THE ACADEMY PROVIDES THE HEAD OF SCHOOL WITH LIMITED MEMBERSHIP TO THE BEVERLY YACHT CLUB AND LOCAL GOLF CLUB. BOTH MEMBERSHIPS ARE TO SERVE THE ACADEMY'S BUSINESS AND ACADEMIC PURPOSES AND THESE ARE NOT CONSIDERED TAXABLE COMPENSATION TO THE HEAD OF SCHOOL. PART I, LINE 4A SEVERANCE AGREEMENTS JOHN H. QUIRK, HEAD OF SCHOOL, HAS AN EMPLOYMENT AGREEMENT THAT PROVIDES SEVERANCE BASED ON ANNUAL COMPENSATION, PROVIDED ONLY IN THE EVENT OF INVOLUNTARY TERMINATION. NO PAYMENTS WERE MADE DURING THE FISCAL YEAR ENDED JUNE 30, 2017 OR JUNE 30, 2018 UNDER THE TERMS OF THIS AGREEMENT. PAUL WHITE, FACULTY AND FORMER BUSINESS MANAGER, RECEIVED A ONE TIME SUPPLEMENTAL PAYMENT OF $228,000 IN 2017. PART I, LINE 2 THE ACADEMY REIMBURSES ALL EMPLOYEES, INCLUDING OFFICERS AND HIGHEST COMPENSATED EMPLOYEES, FOR EXPENSES INCURRED WHILE CONDUCTING BUSINESS OF THE ACADEMY. ALL EXPENSES WERE REVIEWED BY THE CHIEF FINANCIAL OFFICER PRIOR TO REIMBURSEMENT. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 57583RJN6 2009-09-01 13715000 REFUNDING 2007 SERIES 0 0 0 B MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2016-07-28 5000000 RENOVATIONS AROUND CAMPUS 0 0 0 A 5375000 13715000 13715000 2004 1 0 1 1 B 5000000 4600922 399078 2018 0 0 0 0 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 1 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 X 47 1118437 FMV ON DATE OF GIFT 0 1 1 0 PART I, COLUMN (B): THE NUMBER REPORTED IN PART I COLUMN (B) REPRESENTS THE NUMBER OF ITEMS RECEIVED. PART I, LINE 32B: TABOR ACADEMY IS REQUIRED TO HOLD CERTAIN CONTRIBUTIONS FOR 3 YEARS. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO THE FORM 990 BEING FILED WITH THE IRS, THE MEMBERS OF THE BOARD OF TRUSTEES ARE PROVIDED WITH A HARDCOPY AND ELECTRONIC COPY OF THE FORM 990 ACCOMPANIED BY A LETTER CO-SIGNED BY THE AUDIT COMMITTEE CHAIRPERSON AND ACADEMY'S MANAGMENT CERTIFYING THAT THE FORM 990 HAS BEEN REVIEWED AND APPROVED BY MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS AND OFFICERS ARE REQUIRED TO COMPLETE, ON AN ANNUAL BASIS, A CONFLICT OF INTEREST QUESTIONNAIRE PROVIDED BY THE CHIEF FINANCIAL OFFICER AS PART OF THE AUDIT COMMITTEE REPORT. THE QUESTIONNAIRES ARE REVIEWED BY THE CHAIR OF THE BOARD AND THE CHIEF FINANCIAL OFFICER, AS APPROPRIATE. IN THE EVENT THAT A BOARD MEMBER DOES DISCLOSE A CONFLICT, THAT PERSON IS RECUSED FROM DISCUSSIONS AND DOES NOT VOTE ON RESOLUTIONS THAT PERTAIN DIRECTLY TO THAT CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE HEAD OF SCHOOL WAS DETERMINED PRIOR TO VALIDATING HIS EMPLOYMENT CONTRACT. AT THAT TIME, THE BOARD OF TRUSTEES UTILIZED DATA GATHERED BY THE ASSOCIATION OF BUSINESS OFFICERS OF PRIVATE SCHOOLS (ABOPS) TO IDENTIFY COMPARATIVE COMPENSATION BASED ON OFFICERS IN SIMILAR ROLES AT PEER INSTITUTIONS. THE HEAD OF SCHOOL'S EMPLOYMENT CONTRACT DELINEATES A FIXED SALARY INCREASE FOR A THREE YEAR PERIOD, WHICH WAS SUBJECT TO REVIEW AND APPROVAL BY THE BOARD PRIOR TO EXECUTION OF THE CONTRACT. REVIEW OF COMPENSATION OF OTHER OFFICERS IS PERFORMED BY THE HEAD OF SCHOOL USING SIMILAR COMPARATIVE DATA. THE DELIBERATIONS AND DECISIONS REGARDING COMPENSATION ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE ACADEMY'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT 772,512. PENSION RELATED CHARGES 785,960. CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT 633,139. CHARITABLE REMAINDER TRUSTS (6) TRUSTS MA N/A T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0