2017-05-12T17:12:57-05:00 2016-06-30 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 021293742 990 2015-07-01 042104832 THE PIKE SCHOOL PIKE 9784751197 34 SUNSET ROCK ROAD ANDOVER MA 01810 JOHN WATERS DIR. OF FINANCE & OPERATIONS 9784751197 2017-05-12 1 LYNNE JOHNSON P00757336 6179129000 2015 2021-01-29 14:40:06Z JOHN WATERS 34 SUNSET ROCK ROAD ANDOVER MA 01810 15802753 0 X WWW.PIKESCHOOL.ORG X 1926 MA THE PIKE SCHOOL IS A PK-9 PRIVATE SCHOOL OF APPROXIMATELY 438 STUDENTS. THE PIKE SCHOOL SEEKS TO DEVELOP WITHIN ITS COMMUNITY A LIFE LONG LOVE OF LEARNING, RESPECT FOR OTHERS, JOY OF PHYSICAL ACTIVITY, AND A CREATIVE SPIRIT. 23 23 123 28 0 0 1031745 2753975 11408578 12052171 477235 337870 -7118 -44919 12910440 15099097 1441380 1607839 0 0 7944418 8383999 0 0 683085 3463157 3215904 12848955 13207742 61485 1891355 26064493 27655894 6243968 6339410 19820525 21316484 X THE PIKE SCHOOL SEEKS TO DEVELOP WITHIN ITS COMMUNITY A LIFE LONG LOVE OF LEARNING, RESPECT FOR OTHERS, JOY OF PHYSICAL ACTIVITY, AND A CREATIVE SPIRIT. A PIKE EDUCATION IS A JOURNEY THAT PREPARES STUDENTS TO BE INDEPENDENT LEARNERS AND RESPONSIBLE CITIZENS. 0 0 9333532 1607839 11796072 EDUCATIONAL INSTITUTION WHICH PROVIDES INTELLECTUAL AND PERSONAL GROWTH EMPHASIZING FUNDAMENTAL SKILLS WITHIN A BROAD RANGE OF DISCIPLINES. EACH STUDENT PROGRESSED TO THE NEXT GRADE WITH 67 STUDENTS MOVING UP TO HIGH SCHOOL AND SECONDARY SCHOOLS. 440 STUDENTS ARE ENROLLED IN THE SCHOOL YEAR 2015-2016. SCHOOL YEARS RUNS 170 DAYS.LOWER SCHOOL:VIEWED AS YEARS OF EXPLORATIONS AND BEGINNINGS, THE LOWER SCHOOL IS A STRUCTURED YET RELAXED ENVIRONMENT WHERE CHILDREN ARE AFFORDED THE OPPORTUNITY TO DEVELOP SOCIALLY, EMOTIONALLY, PHYSICALLY, AND INTELLECTUALLY. THROUGH SMALL GROUPS AND INDIVIDUAL ATTENTION, LEARNING IS BOTH INTERACTIVE AND STIMULATING. FOR MUCH OF THE DAY, THE CHILDREN ARE IMMERSED IN THEME BASED LEARNING WHERE TOPICS ARE COVERED ACROSS SUBJECT AREAS. BECAUSE MUCH OF THE CURRICULUM IS INTERDISCIPLINARY, THE CLASSROOM TEACHERS CAREFULLY PLAN THEIR ACTIVITIES WITH THE SPECIALISTS TO ENSURE CONTINUITY. FIELD TRIPS, PERFORMANCES AND WORKSHOPS BY ARTISTS IN RESIDENCE, DANCE AND THEATRE GROUPS AND MUSICIANS ADD FURTHER ENRICHMENT TO THE LOWER SCHOOL PROGRAM.MIDDLE SCHOOL:AT EACH GRADE IN THE MIDDLE SCHOOL, ANCHOR TEACHERS AND SPECIALISTS WORK COLLABORATIVELY TO DESIGN CURRICULUM FOCUSED ON OVERARCHING QUESTIONS THAT TARGET KEY CONCEPTS AND SKILLS. IN ALL GRADES STUDENTS ENGAGE IN LEARNING THAT IS BOTH MEANINGFUL TO THEIR OWN LIVES AND CONNECTED ACROSS SUBJECT AREAS. THROUGH A WIDE RANGE OF TOPICS, STUDENTS BUILD ACADEMIC AND SOCIAL SKILLS THAT REQUIRE CRITICAL THINKING AND COOPERATION.UPPER SCHOOL:THE UPPER SCHOOL OFFERS A RICH AND COMPREHENSIVE PROGRAM THAT PROVIDES STUDENTS WITH THE NECESSARY KNOWLEDGE AND SKILLS TO THRIVE IN LEADING SECONDARY SCHOOLS AND BEYOND. TEACHERS EMPHASIZE CHARACTER GROWTH AND CREATIVITY THROUGH SMALL GROUP ACTIVITIES. THROUGHOUT THE STUDENTS' EXPERIENCE, THEY ARE PROVIDED WITH VALUABLE CHALLENGES IN DECISION MAKING AND COLLABORATION. THE CHIEF ACADEMIC, SOCIAL, AND PERSONAL DEVELOPMENT OF THE STUDENTS IS GUIDED BY A FACULTY ADVISOR WHO WORKS CLOSELY WITH STUDENTS AND THEIR FAMILIES. 173979 270071 AUXILIARY ACTIVITIES: AFTER SCHOOL SPORTS PROGRAMS FOR SIXTH GRADE THROUGH NINTH GRADE STUDENTS. AFTER SCHOOL FLEX PROGRAM AND SUMMER PROGRAM FOR CHILDREN IN THE LOCAL COMMUNITIES. 9507511 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 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 0 0 0 0 1 44 0 1 123 1 0 0 0 0 0 1 1 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X WILL POWERS 9784751197 34 SUNSET ROCK ROAD ANDOVER MA 018104898 BOB BOREK BOARD MEMBER 2.00 X 0 0 0 BOBBIE CRUMP-BURBANK BOARD MEMBER 2.00 X 0 0 0 BRIAN LAWLOR BOARD MEMBER 2.00 X 0 0 0 MEERIE JOUNG VICE CHAIRPERSON 2.00 X X 0 0 0 FIRDAUS BHATHENA CHAIRPERSON 2.00 X X 0 0 0 KIM PACKARD BOARD MEMBER 2.00 X 0 0 0 LYNNE CAPOZZI BOARD MEMBER 2.00 X 0 0 0 LESLIE ROSAS BOARD MEMBER 2.00 X 0 0 0 CLAUDIA BACH SECRETARY 2.00 X X 0 0 0 HEATHER CLARK BOARD MEMBER 2.00 X 0 0 0 LUCY ABISALIH BOARD MEMBER 2.00 X 0 0 0 MARCY BARKER TREASURER 2.00 X X 0 0 0 RICHARD VEIRA BOARD MEMBER 2.00 X 0 0 0 SCOTT GINSBERG BOARD MEMBER 2.00 X 0 0 0 TASNEEM DOHADWALA BOARD MEMBER 2.00 X 0 0 0 MARK NICHOLS BOARD MEMBER 2.00 X 0 0 0 SEAN RILEY BOARD MEMBER 2.00 X 0 0 0 DAVID BROOKS BOARD MEMBER 2.00 X 0 0 0 ELIZABETH CIERI BOARD MEMBER 2.00 X 0 0 0 MONIQUE JOHNSON BOARD MEMBER 2.00 X 0 0 0 ELIANA MARTINEZ BOARD MEMBER 2.00 X 0 0 0 LEN PIERCE BOARD MEMBER 2.00 X 0 0 0 CARRIE SMOTRICH BOARD MEMBER 2.00 X 0 0 0 JOHN WATERS HEAD OF SCHOOL 60.00 X 320119 0 91792 MARK GRAZIANO DIRECTOR OF FINANCE 60.00 X 164107 0 33899 WILL POWERS DIRECTOR OF FINANCE & OPERATIONS 60.00 X 0 0 0 ANGELA BROWN DIRECTOR OF ADMISSIONS 60.00 X 115497 0 16507 ROD BOYER DIRECTOR OF ADVANCEMENT 60.00 X 134124 0 30812 MICHAEL EATMAN COMMUNITY LIFE DIRECTOR 60.00 X 117839 0 29434 851686 0 202444 5 0 1 0 PBSC 360 PEARL STREET MALDEN MA 02148 CLEANING SERVICE 152497 SCHWARTZ HANNUM PC 11 CHESTNUT STREET ANDOVER MA 01810 LEGAL SERVICES 104094 2 39725 2714250 49609 2753975 STUDENT TUITION 611710 11755216 11755216 AUXILIARY SERVICES 900099 270071 270071 EXTENDED DAY 900099 26884 26884 12052171 280501 280501 55463 94185 -38722 -38722 -38722 646671 589302 57369 57369 57369 0 39725 20169 -20169 -20169 MISCELLANEOUS INCOME 900099 13972 13972 13972 15099097 12066143 0 278979 1607839 1607839 550573 550573 6276426 4550694 1255446 470286 367000 251013 98892 17095 714000 488346 192396 33258 476000 325564 128264 22172 126511 126511 36400 36400 25000 25000 277681 137407 140274 260803 260803 162000 162000 107385 107385 847883 805489 42394 INSTRUCTIONAL EXPENDITU 608000 608000 MAINTENANCE/UTILITIES 532816 501466 31350 CAFETERIA EXPENDITURES 218000 207100 10900 UNCOLLECTIBLE CONTRIBUT 13425 13425 13207742 9507511 3017146 683085 18692 18692 2162595 2380553 95520 1607894 255277 263863 85523 114269 23715861 9417727 14791106 14298134 8449959 8790330 199821 182159 6000 0 26064493 27655894 1499260 1525357 1118978 1183023 3250000 3250000 375730 381030 6243968 6339410 X 16414476 16487857 402049 1824627 3004000 3004000 19820525 21316484 26064493 27655894 1891355 -395396 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9732223 309351 -62206 368088 9611280 10015874 127500 -63169 347982 9732223 9045004 1297698 326828 10015874 8431956 921344 305925 2371 9045004 8443559 25000 260728 286453 10878 8431956 0.66540 0.31260 0.02200 0 0 138886 138886 20243053 7129470 13113583 2119593 1267887 851706 1214329 1020370 193959 14298134 TUITION DEPOSITS 381030 381030 X 14806100 -395396 6150 -13425 -402671 15208771 -109674 -109674 15099097 13310141 6150 109674 115824 13194317 13425 13425 13207742 PART V, LINE 4: THE SCHOOL'S ENDOWMENT FUNDS ARE A PERPETUAL SOURCE OF FUNDING. THE ENDOWMENT FUNDS SUPPORT THE SCHOOL'S GENERAL OPERATIONS, INCLUDING PROFESSIONAL DEVELOPMENT OF FACULTY AND STAFF AS WELL AS FINANCIAL AID FOR STUDENTS. PART X, LINE 2: THE SCHOOL FOLLOWS THE ASC 740, "INCOME TAXES", WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES BY PRESCRIBING THE RECOGNITION THRESHOLD A TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. MANAGEMENT BELIEVES THAT THE SCHOOL HAS NO MATERIAL UNCERTAINTIES IN INCOME TAXES. WITH FEW EXCEPTIONS, THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR FISCAL YEARS BEFORE 2013. THE SCHOOL WILL ACCOUNT FOR INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, AS PART OF TAX EXPENSE. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNCOLLECTIBLE CONTRIBUTIONS -13,425. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED ON FORM 990, PART VIII, LINE 6B -94,185. INTEREST INCOME NETTED WITH EXPENSES ON AUDITED FS 4,680. FUNDRAISING EXPENSE REPORTED ON FORM 990, PART VIII, LINE 8B -20,169. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED ON FORM 990, PART VIII, LINE 6B 94,185. INTEREST INCOME NETTED WITH EXPENSES ON AUDITED FS -4,680. FUNDRAISING EXPENSE REPORTED ON FORM 990, PART VIII, LINE 8B 20,169. PART XII, LINE 4B - OTHER ADJUSTMENTS: UNCOLLECTIBLE CONTRIBUTIONS 13,425. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 ALL PUBLICATIONS REFER TO THE SCHOOL'S NONDISCRIMINATORY POLICY INCLUDING THE VIEWBOOK, THE PARENT'S HANDBOOK AND THE PARENT'S DIRECTORY. 1 FINANCIAL AID 71 1140181 TUITION REMISSION 18 467658 PART I, LINE 2: THE ORGANIZATION USES SSS THROUGH NAIS TO HELP DETERMINE THE AWARD ALONG WITH FAMILIES W-2'S AND 1040'S. A COMMITTEE OF FOUR ADMINISTRATORS REVIEW AND CONFIRM AWARDS. THE AWARD AMOUNT IS MONITORED THROUGH MONTHLY GL RECONCILIATION. X X X X 1 1 0 0 0 0 0 0 0 JOHN WATERS HEAD OF SCHOOL 320119 0 0 0 0 0 67225 0 24567 0 411911 0 0 0 MARK GRAZIANO DIRECTOR OF FINANCE 137857 0 0 0 26250 0 11700 0 22199 0 198006 0 0 0 ROD BOYER DIRECTOR OF ADVANCEMENT 134124 0 0 0 0 0 9216 0 21596 0 164936 0 0 0 PART I, LINES 4A-B PART I, LINE 4A: THE SCHOOL HAS A SEVERANCE ARRANGEMENT WITH THE DIRECTOR OF FINANCE, MARK GRAZIANO, WHO LEFT THE POSITION IN OCTOBER 2015. HE RECEIVED $26,250 IN SEVERANCE PAYMENTS FOR THE CALENDAR YEAR 2015 AND IT IS REPORTED IN PART II, COLUMN (B)(III). MR. GRAZIANO RECEIVED SEVERANCE PAYMENTS UNTIL JUNE 2016. PART I, LINE 4B: THE SCHOOL ENTERED INTO A DEFERRED COMPENSATION AGREEMENT WITH THE SCHOOL'S HEAD OF SCHOOL TO BE ACCRUED IN FIVE EQUAL YEARLY INSTALLMENTS OF $20,000 STARTING IN 2005 (AMENDED TO $50,000 ANNUALLY IN 2008). IN 2011, THE SCHOOL EXTENDED ITS AGREEMENT WITH THE HEAD OF SCHOOL THROUGH JUNE 30, 2017, AT WHICH TIME A LUMP SUM PAYMENT IS DUE. INTEREST IS CREDITED AT THE 5 YEAR TREASURY RATE AT EACH INSTALLMENT PERIOD. $50,000 HAS BEEN ACCRUED DURING FY16 AND IT IS REPORTED IN PART II, COLUMN C FOR THE HEAD OF SCHOOL. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2013-11-01 3250000 REFUNDING PRIOR 2009 ISSUE 0 0 0 A 3250000 3250000 2008 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 1 0 0 0 1 A 1 X 5 49609 FAIR MARKET VALUE 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS IS BASED ON THE NUMBER OF GIFTS RECEIVED. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS PREPARED BY MANAGEMENT AND OUR EXTERNAL AUDITORS AFTER COMPLETION OF THE ANNUAL AUDIT. A DRAFT COPY OF THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE AND THE TREASURER OF THE BOARD. A SUBSEQUENT DRAFT INCORPORATING THEIR COMMENTS IS PREPARED AND DISTRIBUTED TO THE FULL BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C AT THE BEGINNING OF EACH YEAR THE BOARD MEMBERS ARE ASKED TO FILL OUT CONFLICT OF INTEREST FORMS STATING THAT THEY UNDERSTAND AND WILL COMPLY TO THE POLICY. WE HAVE SET UP A WHISTLE BLOWER POLICY FOR ANY MEMBER OF THE SCHOOL INCLUDING THE BOARD TO INFORM US IF THERE ARE ANY QUESTIONS OR CONCERNS THAT COME UP. FORM 990, PART VI, SECTION B, LINE 15 THE HEAD OF SCHOOL'S CONTRACT IS NEGOTIATED USING BENCHMARKING DATA FROM SIMILAR SCHOOLS. THEY BENCHMARK SALARY, BENEFITS AND WORK LOAD. THEY ALSO GET LEGAL ADVICE ON THE WORDING OF THE CONTRACT. THE BOARD VOTES ON THE HEAD OF SCHOOL'S CONTRACT. OTHER SENIOR MANAGEMENT GET AN INCREASE AT THE SAME RATE AS THE FACULTY AND STAFF. THESE INCREASES ARE VOTED ON BY THE BOARD AND AGAIN BASED ON BENCHMARKING DATA. ALL DISCUSSIONS AND VOTES ARE DOCUMENTED IN THE MINUTES TO THE MEETINGS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990 AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). IN ADDITION, THE FORM 990 WITHOUT SCHEDULE B IS AVAILABLE TO THE PUBLIC VIA GUIDESTAR AND THE MASSACHUSETTS OFFICE OF ATTORNEY GENERAL'S WEBSITE.