2014-02-06T09:00:27-07:00 2013-06-30 990 2012-07-01 042103632 TABOR ACADEMY TABO 5087482000 Front Street Marion MA 02738 Paul White 5087482000 2014-02-06 2012 2015-11-30 17:44:51Z John H Quirk Tabor Academy Marion MA 02738 31760671 0 X www.taboracademy.org X 1876 MA Independent Secondary Education 22 22 329 0 0 0 3460448 4457404 26074846 26378869 1101941 898597 23550 25801 30660785 31760671 4554700 4893650 0 0 12841172 15222963 0 0 1265224 9970884 9930972 27366756 30047585 3294029 1713086 80597500 85598200 22195695 21686341 58401805 63911859 Tabor Academy, as a coeducatonal college preparatory school, 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 24790148 4893650 26378869 Tabor Academy is an independent secondary boarding and day school engaged in the process of educating approximately 500 students. 0 0 0 24790148 1 1 0 0 0 0 0 0 0 1 1 1 0 1 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 85 0 1 329 1 0 1 CJ 0 0 0 1 1 0 1 1 1 1 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 1 0 MA X Paul C White 5087482000 Front Street Marion MA 02738 X David Barrett 2 0 X 0 0 0 Keith Browning 5 0 X X 0 0 0 William Phelps 2 0 X 0 0 0 R William Blasdale 2 0 X 0 0 0 Phillips Smith 2 0 X 0 0 0 Carmine Martignetti 2 0 X 0 0 0 Deborah Clark 2 0 X 0 0 0 Joanne Fallon 2 0 X 0 0 0 Geoffrey Worrell 2 0 X 0 0 0 William Hurley III 2 0 X 0 0 0 Jennifer McIntire 2 0 X 0 0 0 Louis Wolfe 2 0 X 0 0 0 Susan Grosart 2 0 X 0 0 0 Lee Pokoik 2 0 X 0 0 0 David Campbell 2 0 X 0 0 0 Charles Talanian 2 0 X 0 0 0 James Tomlinson 2 0 X 0 0 0 Peter Francis 2 0 X 0 0 0 Paul Murphy 2 0 X 0 0 0 Clement Benenson 2 0 X 0 0 0 John Fish 2 0 X 0 0 0 David A Wallace 2 0 X 0 0 0 David A Wallace 2 0 X 0 0 0 Paul White 50 0 X 232089 0 37100 Jay S Stroud 50 0 X 795261 0 19250 John H Quirk 50 0 X 114707 0 13300 Donald Wing 40 0 X 133946 0 24400 Richard Roller 40 0 X 111875 0 17100 Andrew McCain 40 0 X 103262 0 21100 Mark Aimone 40 0 X 121450 0 14700 G Bruce Cobbold 40 0 X 103729 0 22700 1716319 0 169650 8 0 1 0 S J Services 108 Broadway Salem MA 01971 Custodial Services 274426 Towers Watson 800 Boylston Street Boston MA 02199 Actuarial 136400 Grant Thornton 75 State Street 13th Floor Boston MA 021091827 Audit 105300 3 0 0 0 0 0 4457404 523144 4457404 Tuition 900099 23907288 23907288 0 0 Endowment Availment 900099 1328429 1328429 0 0 Misc Income ( no UBIT) 900099 546113 546113 0 0 Trust Income 900099 349178 349178 0 0 Student Activities 900099 238239 238239 0 0 9622 9622 0 0 26378869 285580 0 0 285580 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 621344 -8327 0 0 621344 -8327 613017 0 0 613017 0 0 0 0 0 0 0 0 0 0 0 0 25801 0 25801 25801 0 0 0 31760671 26404670 0 898597 X 0 0 4893650 4893650 0 0 0 0 346796 0 346796 0 0 0 0 0 10026013 8439673 853583 732757 2531636 2434979 60019 36638 1567647 1275491 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0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 28051916 408131 3953206 497475 751099 144321 31020358 29297987 709880 -606965 476188 757643 115155 28051916 26105406 405804 4191726 496656 801288 107005 29297987 24135181 594795 2927306 544936 908604 98336 26105406 30642788 288191 -5065395 583932 976766 169705 24135181 0.22 0.78 0 0 0 0 419759 419759 0 53956155 23969770 29986385 0 2958099 1070279 1887820 0 9336944 6603315 2733629 0 125659 0 125659 35153252 0 0 investment Partnerships 11683751 F 11683751 Beneficial interest in perpetual trust 7161563 Beneficial interest in charitable remainder trusts 1862096 Trust income receivable 86370 Stock in transit 61519 Loans to employees 22970 Other receivable 312 9194830 0 Advanced tuition and deposit 3640173 Accrued pension liability 1573768 Interest rate swap agreement 1743828 Annuity payable 807172 7764941 X 23197510 0 0 0 0 0 23197510 0 8563161 8563161 31760671 25153935 0 0 0 0 0 25153935 0 4893650 4893650 30047585 SchD_P05_S00_L04 Schedule D, Part V, Line 4 Endowment serves to support scholarship, faculty, academic and extracurricular programs, and general administration of the school. SchD_P10_S00_L02 Schedule D, Part X, Line 2 The Academy is a not-for-profit organization that is exempt form income taxes under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been recorded in the accompanying financial statements. As required by Accounting Standards Codification ("ASC40"), Income Taxes, the Academy recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following the audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant tax authority. SchD_P11_S00_L04b Schedule D, Part XI, Line 4b Contributions 2,745,113; student grants 4,893,650; investment income 285,580; sale of stock 613,017; sale of asset 25,801; grand total = 8,563,161 SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Student grants = 4,893,650 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SchE_P01_S00_L03 Schedule E, Part I, Line 3 We promulgate each year our nondiscriminatory policies through several ads in local and regional newspapers during the period of solicitation of students. 1 Scholarships for students to attend Tabor Academy. 169 0 4893650 Figure represents tuition remission only. SchI_P01_S00_L02 Schedule I, Part I, Line 2 Schedule I, Part 1, 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 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 1 1 X X X 0 1 0 0 0 0 0 0 0 Jay S Stroud 160870 0 0 0 634391 0 14250 0 12500 0 822011 0 0 0 Paul White 232089 0 0 0 0 0 28100 0 9000 0 269189 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a The Headmaster or Head of School resides on campus in school housing as required by dint of is work duties. He is given a membership in the town's golf club and yacht club for social reasons. He is given maid service given the nature of his use of his residence for entertainment and his overall responsibilities. SchJ_P01_S00_L04 Schedule J, Part I, Line 4 Jay S Stroud $634,391 Payment From Nonqualified Plan A Massachusetts Development Finance Agency 043431814 57583RJM8 2007-02-08 7805000 Refunding 1998 Series 1 0 0 B Massachusetts Development Finance Agency 043431814 57583RJN6 2007-02-08 5910000 Construction Math/Science Building 1 0 0 C Massachusetts Development Finance Agency 043431814 57583RJN6 2009-09-01 13715000 Refunding 2007 Series 0 0 0 A 7805000 7805000 0 0 0 0 0 0 0 0 0 0 2009 1 0 1 1 B 5910000 5910000 0 0 0 0 0 0 0 0 0 0 2009 0 0 1 1 C 0 0 13715000 0 0 0 0 0 0 0 0 0 2004 1 0 1 1 A 0 0 0 0 0 0 0 1 0 0 B 0 0 0 0 0 0 0 1 0 0 C 0 0 0 0 0 0 0 1 0 0 A 1 1 0 0 0 0 B 1 1 0 0 0 0 C 1 1 0 0 0 0 A 0 B 0 C 0 X 39 523144 Mkt price date of gift 1 0 1 0 F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b Part VI, Section B, Line 11b - Once prepared and filed, the Form 990 is distributed to the Head of School, Board Officers, Chairman of the Finance Committee, and Chairman of the Audit Committee. Relevant discoveries will be brought to the Board's attention. In this regard, the contents of the audit have been reviewed thoroughly in a previous Audit Committee meeting, with finding reported to the entire Board. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c The Trustees regularly address the issue of conflict of interest in their meetings and require on an annual basis that each trustee disclose in writing any such interest that could give rise to conflict. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 Part VI, Section B, Line 15 - Compensation for the Head of School is set by the Board of Trustees after reviewing comparative data and careful deliberation. The Head then determines compensation for other key and highest paid employees based upon review of comparative data and careful deliberation. In this regard, the Trustees approve in advance a percentage increase in salary for the employees of the Academy. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Part VI - Line 19: Tabor Academy makes its governing documents, conflict of interest policies, and financial statements available to the public upon request. F990_P09_S00_L11g Form 990, Part IX, Line 11g Fees for Actuarial Services, Risk Management Services, and Payroll Services. F990_P09_S00_L24e Form 990, Part IX, Line 24e Temporarily Restricted Gifts Expended for Operations F990_P11_S00_L09 Form 990, Part XI, Line 9 Reconciliation of net assets = 967,355. Changes in values of split interest agreements = 834,273; Investment income and gains used for operations = -1,248,574; Change in value of interest rate swap agreement = 977,598; Pension related changes other than net periodic cost = 404,058; Total = 967,355.