2019-05-15T10:13:08-05:00 2018-06-30 043107805 PRAGUE & COMPANY PC 15 WALNUT STREET STE 150 WELLESLEY MA 02481 990 2017-11-15 823447166 WINTHROP PARK SCHOOL INC C/O MCCARTHY LEGAL SERVICES WINT 6172442800 1188 CENTRE STREET NEWTON CENTRE MA 02459 STEVE HINDS PRESIDENT 6172442800 2019-05-14 1 ANDREW P PRAGUE CPA P00451424 7812375555 2019-05-14 108.49.115.114 2019-05-14 14:16:51 ED P CAA3969411FEC4D7C62E786BFF005D80E67AD6A1 3D837596CCEAB47257462F00283E652C5A8432B5 2017 2019-02-21 02:37:17Z X STEVE HINDS 79 HARRIS AVENUE NEEDHAM MA 02402 40188349 0 X N/A X 2017 MA THE SCHOOL WAS FORMED FOR CHARITABLE AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE CODE. MORE SPECIFICALLY, THE SCHOOL WILL OPERATE A SCHOOL LOCATED IN NEWTON, MASSACHUSETTS.THE SCHOOL WILL HAVE A REGULARLY SCHEDULED CURRICULUM, A REGULAR FACULTY, AND A REGULARLY ENROLLED BODY OF STUDENTS IN ATTENDANCE AT A PLACE WHERE THE EDUCATIONAL ACTIVITIES ARE REGULARLY CARRIED ON. THE SCHOOL'S CURRICULUM WILL BE WIDE-RANGING AND CONSIST OF ALL TRADITIONAL AREAS OF STUDY FOR HIGH SCHOOL STUDENTS. ACCORDINGLY, THE EDUCATION PROVIDED BY THE SCHOOL WILL BE COMPREHENSIVE AND CONSTITUTE A REGULARLY SCHEDULED CURRICULUM. THE PROGRESSIVE TEACHING METHODS OF THE SCHOOL ARE INTENDED TO PROMOTE IN STUDENTS A LOVE OF LEARNING, TO INSTILL IN THEM A SENSE OF PERSONAL WORTH AND RESPECT FOR OTHERS AND TO DEVELOP CRITICAL THINKING SKILLS. 3 0 0 0 0 0 25757576 0 10806938 -201195 36363319 0 0 30563 0 0 464591 495154 35868165 51479317 26140385 25338932 X THE SCHOOL WAS FORMED FOR CHARITABLE AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE CODE. MORE SPECIFICALLY, THE SCHOOL WILL OPERATE A SCHOOL LOCATED IN NEWTON, MASSACHUSETTS.THE SCHOOL WILL HAVE A REGULARLY SCHEDULED CURRICULUM, A REGULAR FACULTY, AND A REGULARLY ENROLLED BODY OF STUDENTS IN ATTENDANCE AT A PLACE WHERE THE EDUCATIONAL ACTIVITIES ARE REGULARLY CARRIED ON. THE SCHOOL'S CURRICULUM WILL BE WIDE-RANGING AND CONSIST OF ALL TRADITIONAL AREAS OF STUDY FOR HIGH SCHOOL STUDENTS. ACCORDINGLY, THE EDUCATION PROVIDED BY THE SCHOOL WILL BE COMPREHENSIVE AND CONSTITUTE A REGULARLY SCHEDULED CURRICULUM. THE PROGRESSIVE TEACHING METHODS OF THE SCHOOL ARE INTENDED TO PROMOTE IN STUDENTS A LOVE OF LEARNING, TO INSTILL IN THEM A SENSE OF PERSONAL WORTH AND RESPECT FOR OTHERS AND TO DEVELOP CRITICAL THINKING SKILLS. 0 1 THE SCHOOL IS NOT YET OPERATIONAL. THE SCHOOL FACILITY AND THE PROPERTY ON WHICH SUCH FACILITY SITS WAS FORMERLY OWNED AND OPERATED BY ANOTHER SECTION 501(C)(3) SCHOOL (UNRELATED TO THE SCHOOL), WHICH SCHOOL IS IN THE PROCESS OF TRANSITIONING ITS OPERATIONS TO ANOTHER STATE. THE SCHOOL FACILITY WAS ACQUIRED BY THE SCHOOL ON DECEMBER 22, 2017 AND THE FORMER OPERATOR CONTINUED ITS CHARITABLE OPERATIONS AT THE SITE THROUGH THE END OF THE SCHOOL YEAR, JUNE 30, 2018, AFTER WHICH THE SCHOOL TOOK OCCUPANCY OF THE SCHOOL FACILITY. THE SCHOOL'S FACILITY WILL REQUIRE SOME REHABILITATION PRIOR TO COMMENCING OPERATIONS TO ADDRESS DEFERRED MAINTENANCE ISSUES IN ORDER TO ACCOMMODATE THE SCHOOL'S ANTICIPATED OPERATIONS AND ACTIVITIES.ONCE OPERATIONAL, THE SCHOOL WILL RECEIVE REVENUES PRIMARILY THROUGH TUITION PAYMENTS FROM STUDENTS. THE SCHOOL MAY ACCEPT GIFTS AND BEQUESTS FROM INDIVIDUALS, CORPORATIONS, FIRMS, TRUSTS AND OTHER ENTITIES. CURRENTLY, THE SCHOOL IS RECEIVING PASSIVE INCOME FROM MULTIPLE INVESTMENT PROPERTIES DONATED TO THE SCHOOL BY A SECTION 501(C)(3) PRIVATE FOUNDATION ON DECEMBER 31, 2017. 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 X 3 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 MA X MCCARTHY LEGAL SERVICES 6172442800 1188 CENTRE STREET NEWTON CENTRE MA 02459 STEVE HINDS PRESIDENT & DIRECTOR 5.00 X X 30563 0 0 LISA BESTENI TREASURER & DIRECTOR 2.00 X X 0 0 0 CHRISTOPHER JEDREY CLERK & DIRECTOR 2.00 X X 0 0 0 30563 0 0 0 0 0 0 0 25757576 25606082 25757576 588 588 2132834 2334029 -201195 -201195 -201195 12297351 1491001 10806350 10806350 10806350 36363319 0 0 10605743 X 30563 30563 305873 305873 134689 134689 OTHER EXPENSES 24029 24029 495154 0 495154 0 577318 30750 38487895 947571 0 37540324 84905 24371 0 13221649 0 51479317 0 26140385 0 26140385 X 0 0 0 0 0 25338932 0 25338932 0 51479317 X 35868165 -10529233 X 0 1 X 0 0 X X 16350000 16350000 22137895 947571 21190324 37540324 109-111 HERRICK CIRCLE CONDO ESCROW 1950000 UNREALIZED APPRECIATION OF DONATED PROPERTY - APPLETREEWOOD LLC 5348839 UNREALIZED APPRECIATION OF DONATED PROPERTY - SWEETWOOD LLC 5922810 13221649 SECURITY DEPOSITS 41504 NOTES PAYABLE 21250000 INTEREST PAYABLE 896458 MORTGAGES PAYABLE 3758258 OTHER PAYABLES 194165 26140385 28168117 2334030 2334030 25834087 10529232 10529232 36363319 2829184 2334030 2334030 495154 0 495154 PART XI, LINE 2D - OTHER ADJUSTMENTS: PROPERTY-RELATED EXPENSES NETTED AGAINST RENTAL INCOME FOR 990 PRESENTATION 2,334,030. PART XI, LINE 4B - OTHER ADJUSTMENTS: TAX BASIS GAIN IN EXCESS OF GAAP 10,529,232. PART XII, LINE 2D - OTHER ADJUSTMENTS: PROPERTY-RELATED EXPENSES NETTED AGAINST RENTAL INCOME FOR 990 PRESENTATION 2,334,030. 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE WINTHROP PARK SCHOOL HAS NOT YET BEGUN OPERATIONS AND IS IN ITS START-UP PHASE. SCHEDULE E, PART I, LINE 4 THE WINTHROP PARK SCHOOL HAS NOT YET BEGUN OPERATIONS. IT IS STILL IN ITS START-UP PHASE AND THEREFORE, SINCE INCEPTION THROUGH JUNE 30, 2018, HAS HAD NO STUDENTS OR FACULTY AND HAS ISSUED NO BROCHURES OR OTHER WRITTEN COMMUNICATIONS TO THE PUBLIC. X 3 25606082 INDEPENDENT APPRAISALS 0 0 0 0 FORM 990, PART III, LINE 3 THE SCHOOL FACILITY AND THE PROPERTY ON WHICH SUCH FACILITY SITS WAS FORMERLY OWNED AND OPERATED BY ANOTHER SECTION 501(C)(3) SCHOOL (UNRELATED TO THE SCHOOL), WHICH SCHOOL IS IN THE PROCESS OF TRANSITIONING ITS OPERATIONS TO ANOTHER STATE. THE SCHOOL FACILITY WAS ACQUIRED BY THE SCHOOL ON DECEMBER 22, 2017 AND THE FORMER OPERATOR CONTINUED ITS CHARITABLE OPERATIONS AT THE SITE THROUGH THE END OF THE SCHOOL YEAR, JUNE 30, 2018, AFTER WHICH THE SCHOOL TOOK OCCUPANCY OF THE SCHOOL FACILITY. THE SCHOOL'S FACILITY WILL REQUIRE SOME REHABILITATION PRIOR TO COMMENCING OPERATIONS TO ADDRESS DEFERRED MAINTENANCE ISSUES IN ORDER TO ACCOMMODATE THE SCHOOL'S ANTICIPATED OPERATIONS AND ACTIVITIES. ONCE OPERATIONAL, THE SCHOOL WILL RECEIVE REVENUES PRIMARILY THROUGH TUITION PAYMENTS FROM STUDENTS. THE SCHOOL MAY ACCEPT GIFTS AND BEQUESTS FROM INDIVIDUALS, CORPORATIONS, FIRMS, TRUSTS AND OTHER ENTITIES. CURRENTLY, THE SCHOOL IS RECEIVING PASSIVE INCOME FROM MULTIPLE INVESTMENT PROPERTIES DONATED TO THE SCHOOL BY A SECTION 501(C)(3) PRIVATE FOUNDATION ON DECEMBER 31, 2017. FORM 990, PART VI, SECTION B, LINE 11B A ELECTRONIC AND OR PRINTED COPY OF FORM 990 WILL BE PROVIDED TO EACH MEMBER OF THE GOVERNING BODY. EACH MEMBER OF THE GOVERNING BODY WILL BE GIVEN AN OPPORTUNITY TO QUESTION AND OR COMMENT ON THE FORM 990 PRIOR TO THE FORM 990 BEING FILED. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL IS NOT YET IN OPERATION. AS SOON AS THE SCHOOL BEGINS OPERATIONS, IT WILL MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC IN PRINT AND ELECTRONICALLY. FORM 990, PART IX, LINE 11G PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 305,873. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 305,873. FORM 990, PART XI, LINE 9: GAIN ON PART VIII, LINE 7 IN EXCESS OF BOOK GAIN -10,529,233. CRESSLY LLC 1188 CENTRE STREET C/O MCCARTHY LEG NEWTON MA 02459 743069882 TITLE HOLDER TO LAND AND IMPROVEMENTS AT 188 CENTRE STREET, NEWTON, MA MA 11360671 0 100 OF LLC INTERESTS SOLD TO 3RD PARTY PRIOR TO FISCAL YEAR-END APPLETREEWOOD LLC 1188 CENTRE STREET C/O MCCARTHY LEG NEWTON MA 02459 352247831 TITLE HOLDER TO LAND AND IMPROVEMENTS AT 143 ALEWIFE BROOK PARKWAY/446 CAMBR MA 3077 8553106 WINTHROP PARK SCHOOL INC (82-3447166) SWEETWOOD LLC 1188 CENTRE STREET C/O MCCARTHY LEG NEWTON MA 02459 760758184 TITLE HOLDER TO LAND AND IMPROVEMENTS AT 149-153 ALEWIFE BROOK PARKWAY MA 265410 10930185 WINTHROP PARK SCHOOL INC (82-3447166) EVERSAIL LLC 1188 CENTRE STREET C/O MCCARTHY LEG NEWTON MA 02459 823447166 TITLE HOLDER TO LAND AND IMPROVEMENTS AT 197 HERRICK RD, NEWTON, MA MA -258926 46158709 WINTHROP PARK SCHOOL INC (82-3447166)