2014-05-14T12:54:43-05:00 2013-06-30 111986323 MARCUM LLP 53 STATE STREET FLOOR 38 BOSTON MA 02109 990 2012-07-01 042105750 TOWER SCHOOL IN MARBLEHEAD INC TOWE 7816315800 75 WEST SHORE DRIVE MARBLEHEAD MA 01945 DEAN SIDELL 7816315800 2014-05-05 1 BARRY CHAIT P01452996 6177429666 2012 2015-11-30 17:44:51Z PETER S PHILIP 75 WEST SHORE DRIVE MARBLEHEAD MA 01945 9756968 0 X HTTP://WWW.TOWERSCHOOL.ORG X 1912 MA PRE-K TO GRADE 8 EDUCATION 22 20 159 200 0 0 1816898 956466 7328761 7525952 167112 213237 98260 158620 9411031 8854275 1422867 1587391 0 0 5085376 5161666 79058 59397 556295 1967279 2431764 8554580 9240218 856451 -385943 18120362 17825226 8459744 8403278 9660618 9421948 X TOWER SCHOOL AIMS TO SPARK A LIFELONG LOVE OF LEARNING IN OUR STUDENTS BY PROVIDING A STIMULATING EDUCATION IN A SUPPORTIVE ENVIRONMENT. WE ENCOURAGE CHILDREN TO STRIVE FOR PERSONAL LEVELS OF EXCELLENCE AND TO DEVELOP FULLY ACROSS A BROAD RANGE OF ACADEMIC, PHYSICAL, CREATIVE, AND SOCIAL ENDEAVORS. TOWER SEEKS TO NOURISH A SPIRIT OF INQUIRY, TO IMPART AN APPROPRIATE BODY OF KNOWLEDGE, TO SET HIGH STANDARDS, TO INSTILL STRONG LEARNING HABITS, AND TO HELP STUDENTS BECOME SECURE IN THEMSELVES WHILE RESPECTING THE DIGNITY OF OTHERS. 0 0 6883506 1587391 7584141 EDUCATED 292 STUDENTS, GRADUATED 37 STUDENTS AND PLACED THEM IN NUMEROUS QUALITY PUBLIC AND PRIVATE SECONDARY SCHOOLS. 6883506 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 1 10 0 159 1 0 0 0 0 0 1 1 0 0 0 1 0 X 22 20 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MA X PETER S PHILIP 7816315800 75 WEST SHORE DRIVE MARBLEHEAD MA 01945 PRISCILLA SAVAGE 1.00 X X 0 0 0 WILLIAM GRINNELL 1.00 X X 0 0 0 JAMES POLK 1.00 X X 0 0 0 TRACY BEST 1.00 X 0 0 0 EDYTHE BAKER 1.00 X 0 0 0 STEPHEN CHENEY 1.00 X 0 0 0 KENNETH CHICOS 1.00 X 0 0 0 NATHANIEL DALTON 1.00 X 0 0 0 LEILA BLODGETT 1.00 X 0 0 0 LORI JENKINS 1.00 X 0 0 0 EMILY LOPEZ 1.00 X 0 0 0 ANDREA MCEACHERN 1.00 X 0 0 0 VONDA RAISIDES 1.00 X 0 0 0 KEVIN WALKER 1.00 X 0 0 0 BELINDA TERMEER 1.00 X 0 0 0 GABRIELLE ROGERS 1.00 X 0 0 0 PETER SORENSEN 1.00 X 0 0 0 ROBERT LANG 1.00 X 0 0 0 SUSAN LIVINGSTON 1.00 X 0 0 0 DAWN MAYLE 1.00 X 0 0 0 DONALD SOUTER 1.00 X 0 0 0 CHRISTOPHER STAFFORD 1.00 X 0 0 0 PETER S PHILIP 60.00 X 284261 0 49884 DEAN A SIDELL 60.00 X 158979 0 19718 443240 0 69602 2 0 1 0 ACHIEVE RENEWABLE ENERGY LLC 100 CUMMINGS CENTER 229 BEVERLY MA 01915 ENERGY 136994 STAR CONSTRUCTION COMPANY 49 MAIN STREET WEST NEWBURY MA 01985 CONSTRUCTION 103100 2 24430 932036 29192 956466 TUITION AND FEES 611600 7151384 7151384 SUMMER PROGRAM 611600 374568 374568 7525952 130371 130371 155567 64107 91460 91460 91460 879119 796253 82866 82866 82866 51304 24430 42333 8971 8971 MISCELLANEOUS 611600 58189 58189 58189 8854275 7584141 0 313668 1587391 1587391 415068 375351 39717 3701538 3251911 243986 205641 193760 156140 32778 4842 550728 397294 143206 10228 300572 203230 80734 16608 5473 5473 25541 25541 59397 59397 21369 21369 45715 45715 127473 75538 28986 22949 188312 110394 77918 447605 187060 260545 70956 70956 471458 424951 46507 42718 42718 MISCELLANEOUS 283604 39782 52513 191309 STUDENT ACTIVITIES 275849 275849 PLEDGE BAD DEBT 166335 166335 SUMMER PROGRAM 70853 70853 188503 32157 150742 5604 9240218 6883506 1800417 556295 889574 1652129 550352 236152 1319632 1288723 257626 193586 239947 216746 14574840 5317700 9516034 9257140 5299264 4936039 47933 44711 18120362 17825226 466274 83100 3079575 2959682 3414309 3302785 1492855 1440424 6731 617287 8459744 8403278 X 9497869 9410085 150886 0 11863 11863 9660618 9421948 18120362 17825226 -385943 147273 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 5712685 10935 262597 250000 5736217 5882303 139231 -74536 234313 5712685 5589739 191071 335806 234313 5882303 5744965 277736 58933 491895 5589739 1929002 4032269 -216306 5744965 0.99790 0.00210 0 0 1910552 1910552 12146300 4916145 7230155 444621 364527 80094 73367 37028 36339 9257140 ACCRUED EXPENSES 617287 617287 X 7520597 147273 -1587391 -1440118 8960715 -106440 -106440 8854275 7759267 106440 106440 7652827 1587391 1587391 9240218 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: WE USE A SMALL AMOUNT OF THE EARNINGS EACH YEAR FOR OPERATIONS. THE FUND PRINCIPAL IS PROTECTED AND INTENDED FOR USE IN FUTURE YEARS TO PROVIDE EARNINGS POWER AND FINANCIAL STABILITY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE SCHOOL IS RECOGNIZED AS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "CODE") WHEREBY ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 512(A)(1) OF THE CODE, IS SUBJECT TO FEDERAL INCOME TAX. THERE WAS NO UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2013 AND 2012. THE SCHOOL RECOGNIZES AND MEASURES ITS UNRECOGNIZED TAX POSITIONS IN ACCORDANCE WITH FASB ASC 740, ACCOUNTING FOR UNERTAINTIES IN INCOME TAXES. UNDER THAT GUIDANCE, THE SCHOOL ASSESSES THE LIKEIHOOD, BASED ON THEIR TECHNICAL MERIT, THAT TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BASED ON THE FACTS, CIRCUMSTANCES AND INFORMATION AVAILABLE AT THE END OF EACH PERIOD. THE MEASUREMENT OF UNRECOGNIZEDTAX POSITIONS IS ADJUSTED WHEN NEW INFORMATION BECOMES AVAILABLE, OR WHEN AN EVENT OCCURS THAT REQUIRES A CHANGE. THE SCHOOL DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS AT JUNE 30, 2013 OR 2012. INTEREST AND PENALITES ASSOCIATED WITH UNRECOGNIZED INCOME TAX POSITIONS, IF IDENTIFIED, WILL BE CLASSIFIED AS ADDITIONAL INCOME TAXES IN THE STATEMENT OF ACTIVITIES. THE SCHOOL IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY PERIODS IN PROGRESS. THE SCHOOL BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS PRIOR TO 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID AND TUITION REMISSION -1,587,391. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -64,107. SPECIAL EVENT EXPENSES -42,333. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 64,107. SPECIAL EVENT EXPENSES 42,333. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND TUITION REMISSION 1,587,391. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 WE PLACE AN AD WITH THE ASSOCIATION OF INDEPENDENT SCHOOLS IN NEW ENGLAND EACH YEAR IN A MAJOR BOSTON NEWSPAPER. X X X X X X 1 JAQUES AND CO 254 BAY ROAD SOUTH HAMILTON MA 01982 CAMPAIGN PLANNING 0 511676 59397 452279 511676 59397 452279 MA GOLF TOURNAMENT 24590 7650 16940 701 13965 5894 2873 EQUAL EXCHANGE 31191 16780 14411 7736 2 19953 19953 31724 75734 24430 51304 701 13965 5894 42333 62893 -11589 1 FINANCIAL AID 90 1226138 TUITION REMISSION 16 334110 SUMMER CAMP SCHOLARSHIPS 6 3555 SUMMER CAMP REMISSION 17 23588 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: ALL GRANTS ARE USED FOR EDUCATIONAL SERVICES AT TOWER SCHOOL. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 PETER S PHILIP 284261 0 0 0 0 0 37379 0 12505 0 334145 0 0 0 DEAN A SIDELL 158979 0 0 0 0 0 11927 0 7791 0 178697 0 0 0 PART I, LINE 1A HEAD OF SCHOOL HAS A DISCRETIONARY ACCOUNT FOR USE WITH JOB RELATED EXPENSES. TOWER SCHOOL ALSO PAYS VARIOUS HEALTH CLUB AND SERVICE FEES ON BEHALF OF THIS INDIVIDUAL. A EASTERN BANK 043067724 5756427A5 2007-07-01 4000000 BUILDING PROJECT 0 0 0 A 4000000 53160 3946390 2007 0 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 1 TRUSTEE 1 OFFICER TRUSTEE, OFFICER 21500 FIN. AID PAM SIDELL WIFE OF BUSINESS MANAGER 15300 WAGES PAID FOR ADMINSTRATIVE WORK FOR THE FRONT OFFICE. 0 X 4 29192 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 A COMPLETE COPY OF THE FORM 990 WAS PROVIDED TO THE BOARD OF TRUSTEES PRIOR TO FILING, HOWEVER, THE NAMES AND ADDRESSES OF THE DONORS ON SCHEDULE B OF THE FORM WERE NOT PROVIDED. THE BUSINESS MANAGER, HEAD OF SCHOOL AND TREASURER REVIEW THE FORM 990 PRIOR TO DISTRIBUTION TO THE BOARD. ONCE THE 990 REVIEW IS COMPLETE, IT IS SIGNED AND FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE BOARD REVIEWS AND SIGNS THE POLICY AND IS REQUIRED TO DISCLOSE ANY SUCH CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION FOR THE HEAD OF SCHOOL IS DETERMINED BY A REVIEW OF THE COMMITTEE ON TRUSTEES. THE REVIEW INCLUDES A PERFORMANCE EVALUATION AND MARKET COMPARISON WITH INDEPENDENT SCHOOLS OF OUR SIZE AND IN OUR GEOGRAPHIC AREA. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST.