VERMONT ACADEMY: Form 990, tax year 2014
View the entire original 990 at ProPublica ↗
- Organization
- VERMONT ACADEMY (EIN 03-0179600)
- Tax period
- 2014-07-01 to 2015-06-30
- Filed
- 2017-03-03
- IRS object ID
- 201730629349300813
- Schema version
- 2014v6.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule G
- Schedule I
- Schedule J
- Schedule L
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2017-03-03T11:37:23-06:00 | ReturnTs |
| Tax Period End | 2015-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 020476956 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TYLER SIMMS & ST SAUVEUR CPA PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 19 MORGAN DRIVE | AddressLine1Txt |
| City | LEBANON | CityNm |
| State Abbreviation | NH | StateAbbreviationCd |
| ZIP | 03766 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2014-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 030179600 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VERMONT ACADEMY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | VERM | BusinessNameControlTxt |
| Phone | 8028696200 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 500 | AddressLine1Txt |
| City | SAXTONS RIVER | CityNm |
| State Abbreviation | VT | StateAbbreviationCd |
| ZIP | 05154 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | STANLEY COLLA | PersonNm |
| Person Title | INTERIM HEAD OF SCHOOL | PersonTitleTxt |
| Phone | 8028696200 | PhoneNum |
| Signature | 2017-02-23 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JAMES N GODFREY CPA | PreparerPersonNm |
| PTIN | P00913422 | PTIN |
| Phone | 6036530044 | PhoneNum |
| Preparation | 2017-02-20 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2014 | TaxYr |
| Build TS | 2021-01-29 14:40:06Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amended Return | Yes (X) | AmendedReturnInd |
| Principal Officer | STANLEY COLLA | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 500 | AddressLine1Txt |
| City | SAXTONS RIVER | CityNm |
| State Abbreviation | VT | StateAbbreviationCd |
| ZIP | 05154 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $15,362,851 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | VERMONTACADEMY.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1876 | FormationYr |
| Legal Domicile State | VT | LegalDomicileStateCd |
| Activity Or Mission | WE ARE DEVOTED TO CREATING CONFIDENT AND INDEPENDENT LEARNERS THROUGH PERSONAL ATTENTION IN A UNIQUE VERMONT ENVIRONMENT. WE BELIEVE IN OUR STUDENTS AND IN THEIR CAPACITY TO LEARN AND DEVELOP INTO RESPONSIBLE, SELF-DISCIPLINED ADULTS. OUR FACULTY AND STAFF ARE COMMITTED TO HELPING STUDENTS DISCOVER THEIR INDIVIDUAL TALENTS AND DEVELOP THE CHARACTER, STRENGTH, AND SKILLS TO MEET THE CHALLENGES IN THEIR LIVES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 27 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 24 | VotingMembersIndependentCnt |
| Total Employee | 234 | TotalEmployeeCnt |
| Total Volunteers | 5 | TotalVolunteersCnt |
| Total Gross UBI | $26,680 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | -$1,828 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $2,436,959 | PYContributionsGrantsAmt |
| CY Contributions Grants | $898,851 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $11,606,434 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $12,142,837 | CYProgramServiceRevenueAmt |
| PY Investment Income | $796,991 | PYInvestmentIncomeAmt |
| CY Investment Income | $631,906 | CYInvestmentIncomeAmt |
| PY Other Revenue | $73,686 | PYOtherRevenueAmt |
| CY Other Revenue | $112,426 | CYOtherRevenueAmt |
| PY Total Revenue | $14,914,070 | PYTotalRevenueAmt |
| CY Total Revenue | $13,786,020 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $2,418,037 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $2,552,386 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $6,243,885 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $6,430,739 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $725,855 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $4,544,065 | PYOtherExpensesAmt |
| CY Other Expenses | $4,862,546 | CYOtherExpensesAmt |
| PY Total Expenses | $13,205,987 | PYTotalExpensesAmt |
| CY Total Expenses | $13,845,671 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $1,708,083 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$59,651 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $25,857,856 | TotalAssetsBOYAmt |
| Total Assets EOY | $27,494,722 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $6,503,533 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $6,025,235 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $19,354,323 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $21,469,487 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO PROVIDE A SUPPORTIVE COMMUNITY AND CLOSE PERSONAL ATTENTION TO ITS STUDENTS, VERMONT ACADEMY DEVELOPS CONFIDENT, ACTIVE LEARNERS AND RESPECTFUL CITIZENS | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $11,148,385 | ExpenseAmt |
| Grant | $2,552,386 | GrantAmt |
| Revenue | $11,669,619 | RevenueAmt |
| Desc | VERMONT ACADEMY IS A PRIVATE BOARDING AND DAY SCHOOL PROVIDING A BROAD CURRICULUM AND AN EXTENSIVE ATHLETIC PROGRAM. PROGRAMS OF NOTE ARE FOUND IN THE LEARNING SKILLS PROGRAM, THE ARTS, AND IN OUR SCIENCE AND ENGINEERING CURRICULUM. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $273,327 | ExpenseAmt |
| Revenue | $473,218 | RevenueAmt |
| Desc | VERMONT ACADEMY IS HOST TO A SUMMER PROGRAM HELD DURING THE SUMMER RECESS THAT FEATURES EDUCATIONAL AND PROFESSIONAL STUDY AND REVIEW FOR PREMIER SCIENTISTS IN THE FIELD OF BIOLOGY AND LIFE SCIENCES. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $11,421,712 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | Yes (1) | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (1) | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | Yes (1) | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 74 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 234 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 27 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 24 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | 0 | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | 0 | RegularMonitoringEnfrcInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | VT | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NH | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | INESSA MUSE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8028696200 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10 LONG WALK VERMONT ACADEMY | AddressLine1Txt |
| City | SAXTONS RIVER | CityNm |
| State Abbreviation | VT | StateAbbreviationCd |
| ZIP | 05154 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (30 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| JOSE BARREIRO HERNANDEZ | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| CAROLYN BLITZ | |||||||
| SECRETARY | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| MARK CANDON | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL A CHOUKAS | |||||||
| CHAIRMAN | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| CASEY COTA | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| CHRIS COTA | |||||||
| TREASURER | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| CARRIE DUNN | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| STUART EISENKRAFT | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| PENNY GENDRON | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MARK W SMITH | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| ANDREW WARD | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| THOMAS CAPASSE | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| THE REV DR PETER HOWE | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| STEVEN E KAROL | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| TIMOTHY J LORD | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DONALD G MCINNES | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| GEORGE P MOSER JR | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MARVIN S NEUMAN | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DAVID E ROBINSON | |||||||
| VICE CHAIRMAN | 1.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| LEE RYDER | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| CAROLINE SALZMAN | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| JAMISON R GAGNIER | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| RICHARD I STARK JR | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| S TYLOR TREGALLAS | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| DAVID HOLTON | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL HOROWITZ | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| MELISSA WING | |||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | ||
| SEAN P BRENNAN | |||||||
| HEAD OF SCHOOL | 40.00 | $226,438 | $0 | $44,502 | Yes (X) | ||
| SEAN P CAMPBELL | |||||||
| CFO | 40.00 | $89,412 | $0 | $9,035 | Yes (X) | ||
| JAY GUNDY | |||||||
| DIRECTOR OF ADVANCEMENT | 40.00 | $106,625 | $0 | $36,672 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $422,475 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $90,209 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 2 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Info In Schedule O Part VIII | Yes (X) | InfoInScheduleOPartVIIIInd |
| All Other Contributions | $898,851 | AllOtherContributionsAmt |
| Noncash Contributions | $38,493 | NoncashContributionsAmt |
| Total Contributions | $898,851 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| TUITION | 611710 | $10,566,302 | $10,566,302 |
| PROGRAM SUPPORTING REV | 611710 | $1,103,317 | $1,103,317 |
| SUMMER PROGRAM REV. | 611710 | $473,218 | $473,218 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $12,142,837 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $398,541 | TotalRevenueColumnAmt |
| Exclusion | $398,541 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $82,725 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $82,725 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $82,725 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $26,680 | UnrelatedBusinessRevenueAmt |
| Exclusion | $56,045 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,801,092 | SecuritiesAmt |
| Other | $500 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,566,209 | SecuritiesAmt |
| Other | $2,018 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $234,883 | SecuritiesAmt |
| Other | -$1,518 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $233,365 | TotalRevenueColumnAmt |
| Exclusion | $233,365 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $38,305 | FundraisingGrossIncomeAmt |
| Fundraising Direct Expenses | $8,604 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $29,701 | TotalRevenueColumnAmt |
| Exclusion | $29,701 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $13,786,020 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $12,142,837 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $26,680 | UnrelatedBusinessRevenueAmt |
| Exclusion | $717,652 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,552,386 | TotalAmt |
| Program Services | $2,552,386 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $335,358 | TotalAmt |
| Management And General | $335,358 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,767,326 | TotalAmt |
| Program Services | $3,718,137 | ProgramServicesAmt |
| Management And General | $691,237 | ManagementAndGeneralAmt |
| Fundraising | $357,952 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $204,340 | TotalAmt |
| Program Services | $155,493 | ProgramServicesAmt |
| Management And General | $37,740 | ManagementAndGeneralAmt |
| Fundraising | $11,107 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $740,142 | TotalAmt |
| Program Services | $527,545 | ProgramServicesAmt |
| Management And General | $174,915 | ManagementAndGeneralAmt |
| Fundraising | $37,682 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $383,573 | TotalAmt |
| Program Services | $268,501 | ProgramServicesAmt |
| Management And General | $95,893 | ManagementAndGeneralAmt |
| Fundraising | $19,179 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,888 | TotalAmt |
| Management And General | $19,888 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $42,407 | TotalAmt |
| Management And General | $42,407 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,403 | TotalAmt |
| Management And General | $20,403 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $59,622 | TotalAmt |
| Program Services | $57,812 | ProgramServicesAmt |
| Fundraising | $1,810 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $296,073 | TotalAmt |
| Program Services | $207,810 | ProgramServicesAmt |
| Management And General | $59,144 | ManagementAndGeneralAmt |
| Fundraising | $29,119 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $46,289 | TotalAmt |
| Program Services | $46,289 | ProgramServicesAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $220,049 | TotalAmt |
| Program Services | $220,049 | ProgramServicesAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $264,292 | TotalAmt |
| Program Services | $211,237 | ProgramServicesAmt |
| Management And General | $42,708 | ManagementAndGeneralAmt |
| Fundraising | $10,347 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $57,878 | TotalAmt |
| Program Services | $57,878 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $711,664 | TotalAmt |
| Program Services | $711,664 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $171,901 | TotalAmt |
| Program Services | $137,417 | ProgramServicesAmt |
| Management And General | $34,484 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| EDUCATION PROGRAM | $619,646 | $613,671 | $5,969 | $6 |
| PLANT EXPENSE | $470,891 | $470,891 | ||
| DINING HALL | $417,989 | $417,989 | ||
| ATHLETIC PROGRAM | $261,317 | $261,317 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,182,237 | TotalAmt |
| Program Services | $785,626 | ProgramServicesAmt |
| Management And General | $137,958 | ManagementAndGeneralAmt |
| Fundraising | $258,653 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,845,671 | TotalAmt |
| Program Services | $11,421,712 | ProgramServicesAmt |
| Management And General | $1,698,104 | ManagementAndGeneralAmt |
| Fundraising | $725,855 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $915,386 | BOYAmt |
| EOY | $412,497 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $203,019 | BOYAmt |
| EOY | $153,245 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $556,831 | BOYAmt |
| EOY | $389,148 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $167,084 | BOYAmt |
| EOY | $150,312 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $188,164 | BOYAmt |
| EOY | $170,264 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $24,651,677 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $12,451,224 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,833,234 | BOYAmt |
| EOY | $12,200,453 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,992,713 | BOYAmt |
| EOY | $11,052,497 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,425 | BOYAmt |
| EOY | $2,966,306 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,857,856 | BOYAmt |
| EOY | $27,494,722 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $684,398 | BOYAmt |
| EOY | $812,223 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $216,729 | BOYAmt |
| EOY | $140,430 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,735,100 | BOYAmt |
| EOY | $1,625,747 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,867,306 | BOYAmt |
| EOY | $3,446,835 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,503,533 | BOYAmt |
| EOY | $6,025,235 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,380,271 | BOYAmt |
| EOY | $10,777,061 | EOYAmt |
Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,123,612 | BOYAmt |
| EOY | $2,791,308 | EOYAmt |
Permanently Rstr Net Assets PermanentlyRstrNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,850,440 | BOYAmt |
| EOY | $7,901,118 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $19,354,323 | BOYAmt |
| EOY | $21,469,487 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,857,856 | BOYAmt |
| EOY | $27,494,722 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$59,651 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$332,723 | NetUnrlzdGainsLossesInvstAmt |
| Prior Period Adjustments | $2,507,538 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $10,514,599 | BeginningYearBalanceAmt |
| Contributions | $297,523 | ContributionsAmt |
| Investment Earnings Or Losses | $72,905 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $330,735 | OtherExpendituresAmt |
| End Year Balance | $10,554,292 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $7,952,848 | BeginningYearBalanceAmt |
| Contributions | $1,519,791 | ContributionsAmt |
| Investment Earnings Or Losses | $1,333,607 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $291,647 | OtherExpendituresAmt |
| End Year Balance | $10,514,599 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $7,475,652 | BeginningYearBalanceAmt |
| Contributions | $62,943 | ContributionsAmt |
| Investment Earnings Or Losses | $855,565 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $441,312 | OtherExpendituresAmt |
| End Year Balance | $7,952,848 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $7,550,354 | BeginningYearBalanceAmt |
| Contributions | $283,352 | ContributionsAmt |
| Investment Earnings Or Losses | -$106,506 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $251,548 | OtherExpendituresAmt |
| End Year Balance | $7,475,652 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $6,504,506 | BeginningYearBalanceAmt |
| Contributions | $265,860 | ContributionsAmt |
| Investment Earnings Or Losses | $1,032,345 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $252,357 | OtherExpendituresAmt |
| End Year Balance | $7,550,354 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.22770 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.52230 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.25000 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $276,624 | OtherCostOrOtherBasisAmt |
| Book Value | $276,624 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $19,874,932 | OtherCostOrOtherBasisAmt |
| Depreciation | $9,136,698 | DepreciationAmt |
| Book Value | $10,738,234 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,392,343 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,227,296 | DepreciationAmt |
| Book Value | $165,047 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,651,547 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,087,230 | DepreciationAmt |
| Book Value | $564,317 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $456,231 | OtherCostOrOtherBasisAmt |
| Book Value | $456,231 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $12,200,453 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (3 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| DEPOSITS | $1,425 |
| INVESTMENT PROPERTY | $576,987 |
| BENEFICIAL INTEREST IN TRUST | $2,387,894 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $2,966,306 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| ADVANCED TUITION | $2,956,088 |
| SPLIT-INTEREST ANNUITIES | $450,437 |
| CAPITAL LEASE OBLIGATION | $40,310 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $3,446,835 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $10,809,810 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$332,723 | NetUnrealizedGainsInvstAmt |
| Other Revenue | -$2,629,592 | OtherRevenueAmt |
| Revenue Not Reported | -$2,962,315 | RevenueNotReportedAmt |
| Revenue Subtotal | $13,772,125 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $20,403 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | -$6,508 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $13,895 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $13,786,020 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $11,202,184 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $8,604 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $8,604 | ExpensesNotReportedAmt |
| Expenses Subtotal | $11,193,580 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $2,652,091 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $2,652,091 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $13,845,671 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART V, LINE 4: | VERMONT ACADEMY USES ENDOWMENT FUNDS IN SEVERAL WAYS-SPECIFIC FUNDS FOR STATED PURPOSES ARE USED FOR THOSE PURPOSES-PROMOTING THE PROGRAM AS STATED BY THE DONOR. MOST FUNDS THAT ARE SPECIFICALLY DIRECTED ARE DIRECTED TO FINANCIAL AID/SCHOLARSHIP AND THOSE FUNDS ARE USED FOR FINANCIAL AID SCHOLARSHIP. FINALLY ANY UNSPECIFIED FUNDS ARE USED FOR GENERAL SUPPORT OF THE SCHOOL AND GENERALLY WOULD BE CONSIDERED TO HAVE BEEN SPENT ON FINANCIAL AID FOR WHICH THE SCHOOL SPENDS APPROXIMATELY 2,500,000 PER YEAR. |
| PART X, LINE 2: | THE ACADEMY QUALIFIES AS AN ORGANIZATION EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THEREFORE, NO TAX PROVISIONS HAVE BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. ASC SUBTOPIC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, ADDRESSES THE ACCOUNTING UNCERTAINTY OF INCOME TAXES RECOGNIZED IN AN ENTERPRISE'S FINANCIAL STATEMENTS AND PRESCRIBES A THRESHOLD OF "MORE-LIKELY-THAN-NOT" FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. SUBTOPIC 740-10 ALSO PROVIDES GUIDANCE ON MEASUREMENT CLASSIFICATION, INTEREST AND PENALTIES AND DISCLOSURE. THE ACADEMY HAS DETERMINED THAT THE PROVISIONS OF SUBTOPIC 740-10 DO NOT HAVE A MATERIAL EFFECT ON THE ACADEMY'S FINANCIAL STATEMENTS. THE ACADEMY BELIVES IT IS NO LONGER SUBJECT TO EXAMINATIONS FOR YEARS PRIOR TO 2012. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | FINANCIAL AID -2,552,386. PROVISION FOR SPLIT INTEREST AGREEMENTS -77,206. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | FUNDRAISING EXPENSE -8,604. GIFT-IN-KIND ADJUSTMENT 2,096. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | FUNDRAISING EXPENSE 8,604. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | FINANCIAL AID 2,552,386. INVESTMENT EXPENSE 20,403. PROVISION FOR SPLIT INTEREST 77,206. GIFT-IN-KIND ADJUSTMENT 2,096. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | 0 | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE E, PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | VERMONT ACADEMY'S NON-DISCRIMINATION POLICY IS PUBLISHED IN SCHOOL LITERATURE, MAGAZINE ADVERTISING, AND THE BOSTON GLOBE. | ExplanationTxt |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | PARENTS AUCTION | Event1Nm |
| Gross Receipts Event1 | $38,305 | GrossReceiptsEvent1Amt |
| Gross Revenue Event1 | $38,305 | GrossRevenueEvent1Amt |
| Other Direct Expenses Event1 | $8,604 | OtherDirectExpensesEvent1Amt |
| Gross Receipts Total | $38,305 | GrossReceiptsTotalAmt |
| Gross Revenue Total Events | $38,305 | GrossRevenueTotalEventsAmt |
| Oth Direct Expnss Total Events | $8,604 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $8,604 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | $29,701 | NetIncomeSummaryAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | FINANCIAL AID | GrantTypeTxt |
| Recipient | 108 | RecipientCnt |
| Non Cash Assistance | $2,552,386 | NonCashAssistanceAmt |
| Valuation Method Used | FMV | ValuationMethodUsedDesc |
| Non Cash Assistance | SUBSIDIZED TUITION, PROGRAM FEES, AND BOARD. | NonCashAssistanceDesc |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE I | FormAndLineReferenceDesc |
| Explanation | THE NAMES AND ADDRESSES OF THE RECIPIENTS ARE AVAILABLE AT THE BUSINESS OFFICE. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Discretionary Spending Acct | Yes (X) | DiscretionarySpendingAcctInd |
| Housing Allowance Or Residence | Yes (X) | HousingAllowanceOrResidenceInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SEAN P BRENNAN | PersonNm |
| Title | HEAD OF SCHOOL | TitleTxt |
| Base Compensation Filing Org | $226,438 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $12,273 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $32,229 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $270,940 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 1A | FormAndLineReferenceDesc |
| Explanation | HOUSING IS PROVIDED TO THE ACADEMY'S HEADMASTER. | ExplanationTxt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp (3 entries)
| Relationship DescriptionRelationshipDescriptionTxt | TransactionTransactionAmt | TransactionTransactionDesc | Sharing Of RevenuesSharingOfRevenuesInd |
|---|---|---|---|
| CHRIS COTA | |||
| ACADEMY TRUSTEE | $109,082 | THE ACADEMY PURCHASES A PORTION OF ITS HEATING FUEL AND ALSO RECEIVES SERVICE ON THEIR HEATING EQUIPMENT FROM A COMPANY WHOSE SHAREHOLDER IS ALSO A TRUSTEE OF THE ACADEMY | 0 |
| CASEY COTA | |||
| ACADEMY TRUSTEE | $109,083 | THE ACADEMY PURCHASES A PORTION OF ITS HEATING FUEL AND ALSO RECEIVES SERVICE ON THEIR HEATING EQUIPMENT FROM A COMPANY WHOSE SHAREHOLDER IS ALSO A TRUSTEE OF THE ACADEMY | 0 |
| DAVID HOLTON | |||
| ACADEMY TRUSTEE | $221,449 | THE ACADEMY PURCHASES PROPERTY AND CASUALTY INSURANCE FROM AN INSURANCE AGENT WHO IS ALSO A TRUSTEE OF THE ACADEMY | 0 |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 7 | ContributionCnt |
| Noncash Contributions Rpt F990 | $37,090 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | PROCEEDS FROM SALE | MethodOfDeterminingRevenuesTxt |
Other Non Cash Contri Table OtherNonCashContriTableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Desc | MISCELLANEOUS | Desc |
| Contribution | 6 | ContributionCnt |
| Noncash Contributions Rpt F990 | $1,403 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | 0 | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | Yes (1) | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 32B: | FormAndLineReferenceDesc |
| Explanation | VERMONT ACADEMY USES MOORS & CABOT, INC. TO SELL ANY STOCK CONTRIBUTIONS. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | CHRIS COTA IS THE UNCLE OF CASEY COTA |
| FORM 990, PART VI, SECTION B, LINE 11 | A COPY OF THE FORM 990 IS PROVIDED TO THE ORGANIZATION'S GOVERNING BODY BEFORE IT IS FILED. |
| FORM 990, PART VI, SECTION B, LINE 15A | THE CFO'S SALARY IS SET BY THE HEAD OF SCHOOL. THE HEAD OF SCHOOL'S SALARY IS SET BY THE BOARD OF TRUSTEES AFTER A COMMITTEE REVIEW AND RECOMMENDATION. |
| FORM 990, PART VI, SECTION C, LINE 19 | A REQUEST FOR THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS SHOULD BE MADE TO THE BUSINESS OFFICE. |
| PARTS I, LINE 7A-7B & PARTS VIII, LINES 6A-6D & 11A-11B COLUMNS (C) & (D) | TOWER AND HOCKEY RINK RENTAL ORIGINALLY REFLECTED ON PART VIII, LINES 11A-11B WERE RECLASSIFIED TO GROSS RENTS LINE 6A. TOWER RENTAL WAS ALSO RECLASSIFIED FROM COLUMN C (UNRELATED BUSINESS REVENUE) TO COLUMN D (REVENUE EXCLUDED FROM TAX UNDER SECTIONS 512-514). THESE CHANGES REFLECT THE AMENDMENTS MADE TO FORM 990-T TO REMOVE NH REAL PROPERTY RENTAL ACTIVITY THAT WAS INADVERTENTLY REFLECTED AS UNRELATED BUSINESS TAXABLE INCOME ON THE ORIGINALLY FILED RETURN. THE ACTIVITY RELATES TO THE RENTAL OF LAND THAT IS NOT DEBT-FINANCED FROM A THIRD PARTY AND; THUS, IS EXCLUDED FROM UNRELATED BUSINESS TAXABLE INCOME ACCORDING TO IRC SECTION 512(B)(3)(A)(I). NO PERSONAL PROPERTY IS RENTED WITH THE LAND NOR ARE ANY SERVICES PROVIDED TO A THIRD PARTY RELATED TO THE RENTAL. |
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