2017-11-13T07:10:58-06:00 2017-06-30 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2016-07-01 020223317 Brewster Academy BREW 6035697103 80 Academy Drive Wolfeboro NH 03894 Robert Mueller Treasurer 6035697103 2017-11-01 1 Barbara J McGuan CPA P00219457 2077752387 2017-10-31 69.49.157.66 2017-11-01 09:05:05 ED P 195DD2390B87809A4F2C1BC02D65E16960466FA1 63471A045D9E60D22A51BA7109BDBA35E67E5406 2016 2018-03-14 21:41:22Z Craig Gemmell 80 Academy Drive Wolfeboro NH 03894 28411716 0 X www.brewsteracademy.org X 1887 NH To provide education to residential and day students. 19 19 301 54 58394 -1625 1479091 2850007 22223837 22888903 394125 731222 360590 383870 24457643 26854002 4525520 4762185 0 0 10792481 11322619 0 0 1006394 8471828 8609924 23789829 24694728 667814 2159274 62191202 62741139 26854998 24464511 35336204 38276628 An independent college preparatory school which provides students with the academic, personal, and social skills necessary for success in a university or college, and for life. 0 0 19483232 4762185 21537502 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. 656793 1293007 The Summer Program features educational programs and conferences during the summer recess, including the Brewster Academy Summer Session and Royal Thai Scholars. 20140025 1 1 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 0 1 0 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 48 0 1 301 1 1 1 0 0 0 0 0 0 0 0 0 X 19 19 0 0 1 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH X Brewster Business Office 6035697103 80 Academy Drive Wolfeboro NH 03894 Arthur W Coviello Jr Vice Chairman 3.00 X X 0 0 0 C Richard Carlson Trustee 2.00 X 0 0 0 Candace Crawshaw Trustee 2.00 X 0 0 0 David L Carlson Trustee 2.00 X 0 0 0 George J Dohrmann III Trustee 2.00 X 0 0 0 Karen W Fix Trustee 2.00 X 0 0 0 Michael Keys Trustee 2.00 X 0 0 0 Rev Nancy Spencer Smith Trustee 2.00 X 0 0 0 Roy Ballentine Chairman 3.00 X X 0 0 0 Ronn Bronzetti Secretary 3.00 X X 0 0 0 Gabrielle Gatta Trustee 2.00 X 0 0 0 David Hadley Past Treasurer 2.00 X X 0 0 0 Carlos Noble Trustee 2.00 X 0 0 0 Beverly Bruce Trustee 2.00 X 0 0 0 Karen Boykin-Towns Trustee 2.00 X 0 0 0 James Curvey Trustee 2.00 X 0 0 0 Robert Mueller Treasurer 2.00 X X 0 0 0 Barbara Naramore Past Trustee 2.00 X 0 0 0 Steven Webster Trustee 2.00 X 0 0 0 Arthur O Ricci Past Trustee 2.00 X 0 0 0 Suzie Scanlon Rabinowitz Trustee 2.00 X 0 0 0 Richard Blackburn Trustee 2.00 X 0 0 0 Lisa Braiterman CFO 50.00 X 150999 0 33616 Craig Gemmell Head of School 60.00 X 314457 0 49590 Lynne Palmer Director of Admissions 50.00 X 134203 0 9372 Michael Cooper Past Sr. Philantrhopic Advisor 20.00 X 115814 0 15678 Kristy Kerin Director of Advancement 50.00 X 140184 0 43547 Marilyn T Shea Academic Dean 50.00 X 110213 0 16875 965870 0 168678 6 0 1 0 Milestone Engineering & Construction In PO Box 2279 Concord NH 03302 Admissions Renovation 765771 Perkins Paper 630 John Hancock Rd Taunton MA 02780 Dining - Food Service 401168 Lavalle Brensinger 155 Dow St Suite 400 Manchester NH 03101 Architects - Admissions Renovation 151064 3 2850007 83284 2850007 Tuition and Fees 611710 19488090 19488090 Instructional Support 611710 1385867 1385867 Summer Programs 611710 1293003 1248217 44786 Student Related 611710 559776 559776 Miscellaneous Revenue 611710 162167 148559 13608 22888903 349244 349244 1921885 1810 1541717 0 380168 1810 381978 381978 136629 15997 120632 120632 Distribution from beneficial trus 900099 263238 263238 263238 26854002 22830509 58394 1115092 30000 30000 4732185 4732185 548660 548660 8347448 6792707 880743 673998 562660 435288 86668 40704 1241170 943968 235043 62159 622681 484234 91617 46830 67586 67586 46924 46924 930903 560050 330359 40494 20917 20917 308478 128104 139151 41223 855481 855481 202133 79917 43170 79046 751495 686286 65209 1726049 1690359 35690 566865 566865 Plant Expense 791697 791697 Student Related 744894 744894 Dining Hall 614293 614293 Goods Held for Resale 160456 160456 821753 410106 389707 21940 24694728 20140025 3548309 1006394 X 991139 304972 9089164 7636962 660476 1984567 206750 193970 37922 48992 160972 151731 54715807 23373228 30870533 31342579 11380898 11609537 8793348 9467829 62191202 62741139 862684 882538 8539399 6644382 16634313 16261636 93179 77312 78838 58477 646585 540166 26854998 24464511 X 15693447 16543966 4002577 5686511 15640180 16046151 35336204 38276628 62191202 62741139 X 2159274 433419 347731 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 10824765 96392 1082464 700352 11303269 10847178 169563 274371 466347 10824765 10848831 229341 213143 444137 10847178 9588035 157739 1477339 374282 10848831 9195469 137174 609994 354602 9588035 0.72930 0.27070 0 0 2215836 2215836 40493755 16348281 24145474 4883391 3175428 1707963 7122825 3849519 3273306 31342579 Deferred Compensation Plans 187235 Beneficial Interest in Perpetual Trust 7748725 Charitable Gift Annuity 1122604 Accrued Investment Interest Receivable 5424 Property held for investment 403841 9467829 Charitable Gift Annuity 352931 Deferred Compensation Payable 187235 540166 22918964 433419 363728 797147 22121817 4732185 4732185 26854002 19978540 15997 15997 19962543 4732185 4732185 24694728 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. Part XI, Line 2d - Other Adjustments: Fundraising Expenses 15,997. Change in Beneficial Interest in Perpetual Trust 344,398. Change in Pledge Disounting & Allowance for Pledges -31,000. Change in Value of Charitable Gift Annuity 34,333. Part XI, Line 4b - Other Adjustments: Finanical Aid Grants 4,732,185. Part XII, Line 2d - Other Adjustments: Fundraising Expenses 15,997. Part XII, Line 4b - Other Adjustments: Financial Aid Grants 4,732,185. 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. East Asia and the Pacific - 0 0 Fundraising and Parent/Alumni relations 27021 0 0 0 0 0 0 27021 0 27021 0 0 0 0 0 0 Schedule F, Part I, Line 3 Brewster Academy currently has 43 students from Asia. As a result of the trip for fundraising and parent/alumni relations, Brewster Academy received $23,775 worth of contributions from sources in Asia. Family Weekend Auction 136629 136629 15997 136629 136629 15997 15997 120632 1 Yale University PO Box 208239 New Haven CT 06520 060646973 501(c)(3) 30000 0 Cash The grant was provided to fund research on the effectiveness of Yale University's Ruler Program for instruction and emotional literacy. Financial Aid 143 0 4732185 FMV Brewster Academy provides financial aid to students based on need Part I, Line 2: Grants and Other Assistance to Organizations - A grant was paid to Yale Univeristy, a 501(c)(3) organization, which has monitoring procedures in place. 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 X 1 1 X X X 0 0 0 0 0 0 0 1 0 Lisa Braiterman CFO 149078 0 0 0 1921 0 11087 0 22529 0 184615 0 0 0 Craig Gemmell Head of School 255203 0 58000 0 1254 0 18550 0 31040 0 364047 0 0 0 Kristy Kerin Director of Advancement 139547 0 0 0 637 0 10698 0 32849 0 183731 0 0 0 Part I, Line 1a Housing was provided to Head of School, Director of Admissions, Director of Advancement, Chief Financial Officer and Senior Philanthropic Advisor in the amount of $14,900, $7,450, $14,900, $14,900 and $18,000 respectively. Part I, Line 7 Craig Gemmell, Head of School, received a bonus during the year based on goals established in his contract which were met during the year. A New Hampshire Health and Education Facilities Authority 020279866 2011-02-04 18000000 Capital Improvements 0 0 0 A 1536644 18000000 260239 1514158 16225603 2011 1 0 0 1 A 0 0 0 0 0 0 0 A 0 0 1 0 0 0 0 0 0 A 0 X 4 83284 FMV X Auction items 0 0 Donor estimated valu 0 0 0 Part I, Line 33: For various auctioned items, the Organization does not record revenue when items are donated, but rather when the items are sold at the auction event. The donor estimated value of auctioned items was $57,874. Form 990, Part VI, Section A, line 4 Brewster Academy made updates to their by-laws, January 2017. Key changes as follows: - Removed parents association president as standing member of the board - Added president of alumni association as ex officio member to make our bylaws consistent with our charter - Revised process for trustee resignations - Revised process for removing a trustee - Revised chair's role to give ability to appoint committee chairs, members, and create ad hoc committees/task forces - Revised definition of role of Treasurer to better clarify role of Treasurer and BA's Chief Financial Officer - Updated dollar threshold by which board approval is needed ($200,000) - Added definition to Board's role in Head of School evaluation and contract renewal - Added Board ratification for Assistant Head of School and Chief Financial Officer - Added process by which business may be added to special meetings of the board - Added process for notification to board re: meetings and committee meetings - Added Risk as a separate standing committee of the Board - Other general edits for clarity and consistency 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. 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 34,333. Change in Value of Beneficial Interest in Perpetual Trust 344,398. Change in Pledge Discounting and Allowance for Pledges -31,000. The John Brewster Trust 1550 Worcester Road 607 Framingham MA 01702 046289100 Perpetual Trust NH N/A T 344398 7748725 0.70000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0