MILTON ACADEMY: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- MILTON ACADEMY (EIN 04-2103603)
- Tax period
- 2011-07-01 to 2012-06-30
- Filed
- 2013-05-10
- IRS object ID
- 201311309349301206
- Schema version
- 2011v1.5
- 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 F
- Schedule I
- Schedule J
- Schedule K
- Schedule L
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-05-10T07:44:17-05:00 | Timestamp |
| Tax Period End Date | 2012-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 263753134 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CBIZ TOFIAS | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 500 BOYLSTON STREET | AddressLine1 |
| City | BOSTON | City |
| State | MA | State |
| ZIP Code | 02116 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042103603 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MILTON ACADEMY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | MILT | NameControl |
| Phone | 6178981798 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 170 CENTRE STREET | AddressLine1 |
| City | MILTON | City |
| State | MA | State |
| ZIP Code | 02186 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | STEVEN MOORE | Name |
| Title | CFO & OO, GENERAL COUNSEL | Title |
| Phone | 6178982200 | Phone |
| Date Signed | 2013-05-06 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | CRAIG KLEIN | Name |
| PTIN | P00734640 | PTIN |
| Phone | 6177610600 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | THEODORICK BLAND | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 170 CENTRE STREET | AddressLine1 |
| City | MILTON | City |
| State | MA | State |
| ZIP Code | 02186 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 95821377 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.MILTON.EDU | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1798 | YearFormation |
| State Legal Domicile | MA | StateLegalDomicile |
| Activity Or Mission Description | MILTON ACADEMY IS AN INDEPENDENT COLLEGE PREPARATORY K-12 SCHOOL, BOARDING AND DAY IN GRADES 9-12. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 32 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 31 | NbrIndependentVotingMembers |
| Total Nbr Employees | 616 | TotalNbrEmployees |
| Total Nbr Volunteers | 450 | TotalNbrVolunteers |
| Total Gross UBI | -365559 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -535880 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 13611661 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 9532326 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 40945653 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 42342488 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 17752037 | InvestmentIncomePriorYear |
| Investment Income Current Year | 12592832 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 72309351 | TotalRevenuePriorYear |
| Total Revenue Current Year | 64467646 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 8219457 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 8646562 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 27214976 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 28144167 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 2606380 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 25001681 | OtherExpensePriorYear |
| Other Expenses Current Year | 24348976 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 60436114 | TotalExpensesPriorYear |
| Total Expenses Current Year | 61139705 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 11873237 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 3327941 | RevenuesLessExpensesCY |
| Total Assets BOY | 286388266 | TotalAssetsBOY |
| Total Assets EOY | 272239145 | TotalAssetsEOY |
| Total Liabilities BOY | 60280966 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 60073758 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 226107300 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 212165387 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | MILTON ACADEMY CULTIVATES IN ITS STUDENTS A PASSION FOR LEARNING AND A RESPECT FOR OTHERS. EMBRACING DIVERSITY AND THE PURSUIT OF EXCELLENCE, WE CREATE A COMMUNITY IN WHICH INDIVIDUALS DEVELOP COMPETENCE, CONFIDENCE AND CHARACTER. SEE SCHEDULE O FOR FULL DESCRIPTION.MILTON ACADEMY CULTIVATES IN ITS STUDENTS A PASSION FOR LEARNING AND A RESPECT FOR OTHERS. EMBRACING DIVERSITY AND THE PURSUIT OF EXCELLENCE, WE CREATE A COMMUNITY IN WHICH INDIVIDUALS DEVELOP COMPETENCE, CONFIDENCE AND CHARACTER. OUR ACTIVE LEARNING ENVIRONMENT, IN AND OUT OF THE CLASSROOM, DEVELOPS CREATIVE AND CRITICAL THINKERS, UNAFRAID TO EXPRESS THEIR IDEAS, PREPARED TO SEEK MEANINGFUL LIFETIME SUCCESS AND TO LIVE BY OUR MOTTO, "DARE TO BE TRUE." | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 38358574 | Expense |
| Grants | 8228172 | Grants |
| Revenue | 38435946 | Revenue |
| Description | MILTON ACADEMY PROMOTES AN ENVIRONMENT OF LIFELONG LEARNING TO 980 STUDENTS IN GRADES K-12. STUDENTS ARE ENCOURAGED TO PARTICIPATE IN COMMUNITY SERVICE AND VOLUNTEER OPPORTUNITIES DURING THE YEAR IN AN EFFORT TO INSTILL A PASSION FOR GIVING BACK TO OTHERS FOR MANY YEARS. FULL AND PARTIAL SCHOLARSHIPS ARE AWARDED TO STUDENTS BASED ON FINANCIAL NEED.SEE SCHEDULE O FOR FULL DESCRIPTION.MILTON ACADEMY PROMOTES AN ENVIRONMENT OF LIFELONG LEARNING TO 980 STUDENTS IN GRADES K-12. STUDENTS ARE ENCOURAGED TO PARTICIPATE IN COMMUNITY SERVICE AND VOLUNTEER OPPORTUNITIES DURING THE YEAR IN AN EFFORT TO INSTILL A PASSION FOR GIVING BACK TO OTHERS FOR MANY YEARS. FULL AND PARTIAL SCHOLARSHIPS ARE AWARDED TO STUDENTS BASED ON FINANCIAL NEED. MILTON ACADEMY CULTIVATES IN ITS STUDENTS A PASSION FOR LEARNING AND A RESPECT FOR OTHERS. EMBRACING DIVERSITY AND THE PURSUIT OF EXCELLENCE, WE CREATE A COMMUNITY IN WHICH INDIVIDUALS DEVELOP COMPETENCE, CONFIDENCE AND CHARACTER. OUR ACTIVE LEARNING ENVIRONMENT, IN AND OUT OF THE CLASSROOM, DEVELOPS CREATIVE AND CRITICAL THINKERS, UNAFRAID TO EXPRESS THEIR IDEAS, PREPARED TO SEEK MEANINGFUL LIFETIME SUCCESS AND TO LIVE BY THE MOTTO, "DARE TO BE TRUE." THE COMMUNITY SERVICE PROGRAM SEEKS TO INSTILL AND SUPPORT A PASSION FOR SERVICE IN MILTON ACADEMY'S STUDENTS, FACULTY AND STAFF. THROUGH PROVIDING A MULTITUDE OF OPPORTUNITIES FROM TUTORING IN LOCAL SCHOOLS, TO DONATING BLOOD, TO ASSISTING THE ELDERLY, THE PROGRAM STRIVES TO PROVIDE THE MILTON COMMUNITY WITH INTERESTING AND MEANINGFUL SERVICE OPPORTUNITIES. ON AVERAGE, ABOUT 200 STUDENTS PERFORM WEEKLY SERVICE AT OVER 30 DIFFERENT ORGANIZATIONS IN THE GREATER BOSTON AREA. ANOTHER 200 STUDENTS PARTICIPATE IN MULTI-ANNUAL EVENTS SUCH AS THE GREATER BOSTON FOODBANK, SPECIAL OLYMPICS TOURNAMENTS, THE BLOOD DRIVE AND HOLIDAY GIVING EVENTS. THE ENTIRE MILTON COMMUNITY PARTICIPATES IN THE ANNUAL OXFAM HUNGER BANQUET AND THE BI-ANNUAL COMMUNITY SERVICE DAY. EACH YEAR, THE PROGRAM ALSO SUPPORTS INDIVIDUAL AND GROUP INITIATIVES FOR PARTICULAR CAUSES, SUCH AS OVERSEAS ORPHANAGES, TSUNAMI AND HURRICANE RELIEF. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 2802171 | Expense |
| Grants | 418390 | Grants |
| Revenue | 2896051 | Revenue |
| Description | THE MOUNTAIN SCHOOL OF MILTON ACADEMY IS AN INDEPENDENT SEMESTER PROGRAM THAT PROVIDES HIGH SCHOOL JUNIORS THE OPPORTUNITY TO LIVE AND WORK ON AN ORGANIC FARM IN RURAL VERMONT. EACH SEMESTER THE MOUNTAIN SCHOOL DRAWS 45 HIGH-ACHIEVING STUDENTS FROM ALL OVER THE COUNTRY. COURSES PROVIDE A DEMANDING, INTEGRATED LEARNING EXPERIENCE THAT TAKES FULL ADVANTAGE OF THE SCHOOL'S SMALL SIZE AND MOUNTAIN CAMPUS. STUDENTS COME FROM DIFFERENT BACKGROUNDS AND SCHOOLS AROUND THE COUNTRY, AND ARE CHALLENGED TO WORK TOGETHER AND LEARN FROM EACH OTHER, AS THEY EXPLORE THE INTERSECTION OF THE SCHOOL'S FARM, ACADEMIC PROGRAM, AND RESIDENTIAL LIFE. THE GOAL IS FOR STUDENTS TO RETURN TO THEIR SCHOOLS AND COMMUNITIES, MORE CLEAR ABOUT THEMSELVES AND BETTER PREPARED TO BECOME EFFECTIVE CITIZENS. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 1828402 | Expense |
| Description | THROUGH INTERSCHOLASTIC AND INTRAMURAL SPORTS, AS WELL AS PHYSICAL EDUCATION COURSES, ALL MILTON ACADEMY STUDENTS ARE INVOLVED IN PHYSICALLY ACTIVE AND CHALLENGING PURSUITS THAT HELP FORM AN EXCEPTIONAL EDUCATIONAL EXPERIENCE. ATHLETIC ACTIVITY IS CERTAINLY AN EXPRESSION OF ONE FORM OF INTELLIGENCE, AN INTELLIGENCE THAT NEEDS TO BE DEVELOPED AND NURTURED AS DOES ANY OTHER. | Description |
Activity Other ActivityOther (2 entries)
| ExpenseExpense | RevenueRevenue | DescriptionDescription |
|---|---|---|
| 518362 | 812654 | MILTON ACADEMY PROVIDES A SATURDAY COURSE TO GIFTED STUDENTS, SUMMER DAY CAMPS, ADULT WORKSHOPS, AN OUTDOOR PROGRAM, AFTER SCHOOL ACTIVITIES, AND YEARBOOK PROGRAM. |
| 310753 | COLLEGE COUNSELING:THE COLLEGE COUNSELING OFFICE AT MILTON BUILDS ITS PROGRAM AROUND INDIVIDUALISM. WE BELIEVE THAT THE COLLEGE COUNSELING PROCESS BEGINS AND ENDS WITH THE STUDENT. WE KNOW THAT EACH STUDENT HAS A DIFFERENT STORY, OUR GUIDING PRINCIPLE IS MUCH LIKE THAT OF A GOOD TEACHER: START WHERE THE STUDENT IS. |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Other Program Service Exp | 829115 | TotalOfOtherProgramServiceExp |
| Total Of Other Program Service Rev | 812654 | TotalOfOtherProgramServiceRev |
| Total Program Service Expense | 43818262 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 1 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 1 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 1 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 1 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 1 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 152 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 616 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 32 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 31 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 1 | LocalChapters |
| Policies Reference Chapters | 1 | PoliciesReferenceChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | MA | StatesWhereCopyOfReturnIsFiled |
| States Where Copy Of Return Is Filed | FL | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EDWARD DONAHUE | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 6178982280 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 170 CENTRE STREET | AddressLine1 |
| City | MILTON | City |
| State | MA | State |
| ZIP Code | 021863397 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (40 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| GEORGE ALEX | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| ROB AZEKE | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| JULIE BENNETT | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| ROBERT CUNHA | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| MARK DENNEEN | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| ELISABETH DONOHUE | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| JOHN FITZGIBBONS | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| CATHERINE KITTY GORDAN | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| ANTONIA MUNROE GRUMBACH | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| DUNE THORNE | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| ERIC TSENG | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| V-NEE YEH | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| CLAIRE HUGHES JOHNSON | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| CAROLINE H HYMAN | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| LISA JONES | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| STEPHEN LEBOVITZ | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| CHRIS MCKOWN | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| ERIKA MOBLEY | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| WENDY NICHOLSON | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| JOHN P REARDON JR | ||||||||
| TRUSTEE | 1.00 | X | 0 | 0 | 0 | |||
| JAMES M FITZGIBBONS | ||||||||
| TRUSTEE - EMERITUS | 1.00 | X | 0 | 0 | 0 | |||
| MARGARET JEWETT GREER | ||||||||
| TRUSTEE - EMERITUS | 1.00 | X | 0 | 0 | 0 | |||
| HAROLD W JANEWAY | ||||||||
| TRUSTEE - EMERITUS | 1.00 | X | 0 | 0 | 0 | |||
| H MARSHALL SCHWARZ | ||||||||
| TRUSTEE - EMERITUS | 1.00 | X | 0 | 0 | 0 | |||
| FRANKLIN W HOBBS IV | ||||||||
| TRUSTEE - EMERITUS | 1.00 | X | 0 | 0 | 0 | |||
| BRADLEY BLOOM | ||||||||
| TRUSTEE - PRESIDENT | 3.00 | X | 0 | 0 | 0 | X | ||
| VICTORIA HALL GRAHAM | ||||||||
| TRUSTEE - VICE PRESIDENT | 3.00 | X | 0 | 0 | 0 | X | ||
| OGDEN M HUNNEWELL | ||||||||
| TRUSTEE - VICE PRESIDENT | 3.00 | X | 0 | 0 | 0 | X | ||
| F WARREN MCFARLAN | ||||||||
| TRUSTEE - VICE PRESIDENT | 3.00 | X | 0 | 0 | 0 | X | ||
| FREDERICK G SYKES | ||||||||
| TRUSTEE - SECRETARY | 3.00 | X | 0 | 0 | 0 | X | ||
| JIDE J ZEITLIN | ||||||||
| TRUSTEE - TREASURER | 3.00 | X | 0 | 0 | 0 | X | ||
| THEODORICK BLAND | ||||||||
| HEAD OF SCHOOL | 45.00 | X | 550286 | 0 | 85106 | X | ||
| STEVEN MOORE | ||||||||
| CFO & OO, GENERAL COUNSEL | 45.00 | 198778 | 0 | 22677 | X | |||
| ALDEN SMITH | ||||||||
| DIR. OF THE MTN SCHOOL | 45.00 | 100437 | 0 | 27453 | X | |||
| GORDON SEWALL | ||||||||
| ASST. HEAD OF SCHOOL FOR ALUM. | 45.00 | 180677 | 0 | 80665 | X | |||
| CATHLEEN EVERETT | ||||||||
| CHIEF COMMUNCATIONS OFFICER | 45.00 | 147514 | 0 | 12377 | X | |||
| PAUL REBUCK | ||||||||
| DEAN OF ADMISSION | 45.00 | 134744 | 0 | 35357 | X | |||
| MARSHALL CARTER | ||||||||
| PRINCIPAL, K-8 | 45.00 | 124552 | 0 | 11562 | X | |||
| STEPHANIE TRUESDELL | ||||||||
| DIRECTOR OF DEVELOPMENT | 45.00 | 120300 | 0 | 33301 | X | |||
| DAVID BALL | ||||||||
| PRINCIPAL, UPPER SCHOOL | 45.00 | 120684 | 0 | 32320 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1677972 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 340818 | TotalOtherCompensation |
| Number Individuals GT100 K | 12 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| FLIK | |||||
| 2400 YORKMONT ROAD | CHARLOTTE | NC | 28217 | DINING SERVICES | 2456636 |
| SUBURBAN CONTRACT CLEANING INC | |||||
| 65 BAY STATE DR STE 4 | BRAINTREE | MA | 02184 | CLEANING COMPANY | 588653 |
| CM CLEANING CO INC | |||||
| 32 WASHINGTON STREET | STOUGHTON | MA | 02072 | CLEANING COMPANY | 420808 |
| MCANULTY PAINTING & DECORATING | |||||
| 171 WARERBEE DRIVE | WESTWOOD | MA | 02090 | PAINTING | 357058 |
| FIRST STUDENT INC | |||||
| 15 YORK AVE | RANDOLPH | MA | 02368 | TRANSPORTATION | 345173 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 20 | NumberOfContractorsGT100K |
| All Other Contributions | 9532326 | AllOtherContributions |
| Noncash Contributions | 847083 | NoncashContributions |
| Total Contributions | 9532326 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| TUITION | 900099 | 40915510 | 40915510 | |
| SPECIAL AND SUMMER PRO | 900099 | 820497 | 630638 | 189859 |
| AUXILIARY INCOME | 900099 | 440564 | 440564 | |
| OTHER EDUCATION REVENU | 900099 | 165917 | 165917 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 42342488 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 2905157 | TotalRevenueColumn |
| Unrelated Business Revenue | -555418 | UnrelatedBusinessRevenue |
| Exclusion | $3,460,575 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 41041406 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 30542155 | Securities |
| Other | 811576 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 10499251 | Securities |
| Other | -811576 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 9687675 | TotalRevenueColumn |
| Exclusion | $9,687,675 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 64467646 | TotalRevenueColumn |
| Related Or Exempt Function Income | 42152629 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | -365559 | UnrelatedBusinessRevenue |
| Exclusion | $13,148,250 | ExclusionAmount |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8646562 | Total |
| Program Services | 8646562 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1416759 | Total |
| Program Services | 843814 | ProgramServices |
| Management And General | 262584 | ManagementAndGeneral |
| Fundraising | 310361 | Fundraising |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 20249611 | Total |
| Program Services | 15221526 | ProgramServices |
| Management And General | 3933737 | ManagementAndGeneral |
| Fundraising | 1094348 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1112704 | Total |
| Program Services | 615081 | ProgramServices |
| Management And General | 476843 | ManagementAndGeneral |
| Fundraising | 20780 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4004172 | Total |
| Program Services | 2180818 | ProgramServices |
| Management And General | 1735361 | ManagementAndGeneral |
| Fundraising | 87993 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1360921 | Total |
| Program Services | 730132 | ProgramServices |
| Management And General | 582241 | ManagementAndGeneral |
| Fundraising | 48548 | Fundraising |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 111620 | Total |
| Management And General | 111620 | ManagementAndGeneral |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 35962 | Total |
| Management And General | 35962 | ManagementAndGeneral |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1784363 | Total |
| Management And General | 1784363 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1709461 | Total |
| Program Services | 802977 | ProgramServices |
| Management And General | 824867 | ManagementAndGeneral |
| Fundraising | 81617 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 15369 | Total |
| Program Services | 7298 | ProgramServices |
| Management And General | 8071 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7671709 | Total |
| Program Services | 5759780 | ProgramServices |
| Management And General | 1529284 | ManagementAndGeneral |
| Fundraising | 382645 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1473511 | Total |
| Management And General | 1473511 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 760925 | Total |
| Program Services | 472407 | ProgramServices |
| Management And General | 170440 | ManagementAndGeneral |
| Fundraising | 118078 | Fundraising |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 73274 | Total |
| Program Services | 10687 | ProgramServices |
| Management And General | 12008 | ManagementAndGeneral |
| Fundraising | 50579 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2187296 | Total |
| Program Services | 1640472 | ProgramServices |
| Management And General | 437459 | ManagementAndGeneral |
| Fundraising | 109365 | Fundraising |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6041315 | Total |
| Program Services | 4530986 | ProgramServices |
| Management And General | 1208263 | ManagementAndGeneral |
| Fundraising | 302066 | Fundraising |
Other Expenses OtherExpenses (3 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| DINING SERVICES | 2355722 | 2355722 | |
| TAXES - REAL ESTATE | 98118 | 98118 | |
| BAD DEBTS | 30331 | 30331 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 61139705 | Total |
| Program Services | 43818262 | ProgramServices |
| Management And General | 14715063 | ManagementAndGeneral |
| Fundraising | 2606380 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1643840 | BOY |
| EOY | 1788504 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6549555 | BOY |
| EOY | 6399347 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10654676 | BOY |
| EOY | 8701462 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 304714 | BOY |
| EOY | 152368 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 134178691 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 76306317 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 61639616 | BOY |
| EOY | 57872374 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 93348618 | BOY |
| EOY | 92575237 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 104824869 | BOY |
| EOY | 99775652 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7422378 | BOY |
| EOY | 4974201 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 286388266 | BOY |
| EOY | 272239145 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4004927 | BOY |
| EOY | 5012230 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2240641 | BOY |
| EOY | 2379963 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 51941451 | BOY |
| EOY | 50061244 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2093947 | BOY |
| EOY | 2620321 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 60280966 | BOY |
| EOY | 60073758 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 38300858 | BOY |
| EOY | 32889073 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 106491575 | BOY |
| EOY | 92605727 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 81314867 | BOY |
| EOY | 86670587 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 226107300 | BOY |
| EOY | 212165387 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 286388266 | BOY |
| EOY | 272239145 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 3327941 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -17269854 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School170b1 Aii | X | School170b1Aii |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| 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) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 195075818 | BeginningOfYearBalance |
| Contributions | 6337849 | Contributions |
| Investment Earnings Or Losses | -4999960 | InvestmentEarningsOrLosses |
| Other Expenditures | 97190 | OtherExpenditures |
| Administrative Expenses | 7729000 | AdministrativeExpenses |
| End Of Year Balance | 188587517 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 166075724 | BeginningOfYearBalance |
| Contributions | 3923674 | Contributions |
| Investment Earnings Or Losses | 33417960 | InvestmentEarningsOrLosses |
| Other Expenditures | 110545 | OtherExpenditures |
| Administrative Expenses | 8230995 | AdministrativeExpenses |
| End Of Year Balance | 195075818 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 145661036 | BeginningOfYearBalance |
| Contributions | 1993489 | Contributions |
| Investment Earnings Or Losses | 18570107 | InvestmentEarningsOrLosses |
| Other Expenditures | -8413092 | OtherExpenditures |
| Administrative Expenses | 8562000 | AdministrativeExpenses |
| End Of Year Balance | 166075724 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 176905465 | BeginningOfYearBalance |
| Contributions | 4263381 | Contributions |
| Investment Earnings Or Losses | -27179976 | InvestmentEarningsOrLosses |
| Other Expenditures | -7884 | OtherExpenditures |
| Administrative Expenses | 8335718 | AdministrativeExpenses |
| End Of Year Balance | 145661036 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.11800 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.42630 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.45570 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 1 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 198648 | OtherCostOrOtherBasis |
| Book Value | 198648 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 121465158 | OtherCostOrOtherBasis |
| Depreciation | 69438748 | Depreciation |
| Book Value | 52026410 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 6310805 | OtherCostOrOtherBasis |
| Depreciation | 3609289 | Depreciation |
| Book Value | 2701516 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 6204080 | OtherCostOrOtherBasis |
| Depreciation | 3258280 | Depreciation |
| Book Value | 2945800 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 57872374 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (5 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| REAL ESTATE PARTNERSHIPS | 13031061 | F |
| PRIVATE EQUITY AND VENTURE CAPITAL | 26213649 | F |
| REAL ESTATE PARTNERSHIPS | 5000000 | C |
| EVENT ADSOLUTE HEDGE | 4293148 | F |
| RELATIVE VALUE | 51237794 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 99775652 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities (3 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| PAYABLE TO ANNUITANTS | $887,132 |
| ASSET RETIREMENT OBLIGATION | $287,134 |
| OBLIGATIONS UNDER INTEREST RATE SWAP CONTRACTS | $1,446,055 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 2620321 | TotalOfAmounts |
| Total Revenue | 64467646 | TotalRevenue |
| Total Expenses | 61139705 | TotalExpenses |
| Excess Or Deficit For Year | 3327941 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -16540328 | NetUnrealizedGLOnInvestments |
| Other | -$729,526 | OtherAmount |
| Total Adjustments | -17269854 | TotalAdjustments |
| Excess Or Deficit Per FS | -13941913 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 38453527 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | -16540328 | NetUnrealizedGainsInvestments |
| Other Revenues | -8603699 | OtherRevenues |
| Revenue Not Rptd F990 | -25144027 | RevenueNotRptdF990 |
| Revenue Subtotal | 63597554 | RevenueSubtotal |
| Investment Expenses Not Included | 1681668 | InvestmentExpensesNotIncluded |
| Other Revenues Not Included | -811576 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 870092 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 64467646 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 52395440 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 1493936 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 1493936 | ExpensesNotRptdF990 |
| Expenses Subtotal | 50901504 | ExpensesSubtotal |
| Investment Expenses Not Included2 | 1681668 | InvestmentExpensesNotIncluded2 |
| Other Expenses Not Included | 8556533 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 10238201 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 61139705 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (7 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: | PART V, LINE 4: | THE ENDOWMENT IS USED TO INVEST FUNDS FOR THE SCHOOL. A SPENDING RATE OF 4.8 PERCENT OF A ROLLING TWELVE QUARTER AVERAGE FAIR VALUE OF THE INVESTMENTS IS USED TO FUND PROGRAMS AND PROVIDE SCHOLARSHIPS. |
| PART XI, LINE 8 - OTHER ADJUSTMENTS: | CHANGE IN SPLIT INTEREST AGREEMENTS -47,166. LOSS ON INTEREST RATE SWAP CONTRACT -682,360. TOTAL TO SCHEDULE D, PART XI, LINE 8: -729,526. | |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | CHANGE IN SPLIT INTEREST AGREEMENTS -47,166. STUDENT FINANCIAL AID -8,556,533. | |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | LOSS ON RETIREMENT OF PP&E -296,023. WRITTEN OFF CONSTRUCTION IN PROGRESS -515,553. | |
| PART XIII, LINE 2D - OTHER ADJUSTMENTS: | LOSS ON INTEREST RATE SWAP CONTRACT 682,360. LOSS ON RETIREMENT OF PP&E 296,023. WRITTEN OFF CONSTRUCTION IN PROGRESS 515,553. | |
| PART XIII, LINE 4B - OTHER ADJUSTMENTS: | STUDENT FINANCIAL AID 8,556,533. | |
| PART C, LINE 2 - UNCERTAIN TAX POSITIONS: THE ACADEMY ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. THE ACADEMY HAS IDENTIFIED ITS TAX STATUS AS A TAX EXEMPT ENTITY AS WELL AS THE REPORTING OF UNRELATED BUSINESS INCOME AS ITS ONLY SIGNIFICANT POSITIONS; HOWEVER, THE ACADEMY HAS DETERMINED THAT SUCH TAX POSITIONS DO NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. THE ACADEMY IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. THE ACADEMY'S FEDERAL AND STATE TAX RETURNS ARE GENERALLY OPEN FOR EXAMINATION FOR THREE YEARS FOLLOWING THE DATE FILED. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | 1 | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | 1 | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | 1 | PolicyPublViaBroadcastMedia |
| Maint Racial Composition Records | 1 | MaintRacialCompositionRecords |
| Maint Scholarships Records | 1 | MaintScholarshipsRecords |
| Maint Copies Of Brochures Etc | 1 | MaintCopiesOfBrochuresEtc |
| Maint Copies Of All Solicitations | 1 | MaintCopiesOfAllSolicitations |
| Discriminate Race Students Rights | 0 | DiscriminateRaceStudentsRights |
| Discriminate Race Admiss Policies | 0 | DiscriminateRaceAdmissPolicies |
| Discriminate Race Emplmn Faculty | 0 | DiscriminateRaceEmplmnFaculty |
| Discriminate Race Scholarships | 0 | DiscriminateRaceScholarships |
| Discriminate Race Educ Policies | 0 | DiscriminateRaceEducPolicies |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFclts |
| Discriminate Race Athletic Prog | 0 | DiscriminateRaceAthleticProg |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActy |
| Government Financial Aid Received | 0 | GovernmentFinancialAidReceived |
| Government Financial Aid Revoked | 0 | GovernmentFinancialAidRevoked |
| Compliance With Rev Proc7550 | 1 | ComplianceWithRevProc7550 |
Form990 Schedule E Part II Form990ScheduleEPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION | Identifier |
| Return Reference | SCHEDULE E, PART I, LINE 3 | ReturnReference |
| Explanation | MILTON ACADEMY'S NONDISCRIMINATORY POLICY IS PUBLISHED IN THE SCHOOL'S BROCHURES AND APPLICATIONS. IT IS ALSO INCLUDED IN THE BOSTON GLOBE. | Explanation |
Schedule F IRS990ScheduleF
Accts Actvs Out US Table AcctsActvsOutUSTable (3 entries)
| RegionRegion | Number Of OfficesNumberOfOffices | Number Of EmployeesNumberOfEmployees | Type Of Activities ConductedTypeOfActivitiesConducted | Total ExpendituresTotalExpenditures |
|---|---|---|---|---|
| EAST ASIA AND THE PACIFIC | 0 | 0 | INVESTMENTS | 7851000 |
| SUB-SAHARAN AFRICA | 0 | 0 | INVESTMENTS | 3092000 |
| NORTH AMERICA | 0 | 0 | INVESTMENTS | 6020000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Number Of Offices | 0 | SubtotalNumberOfOffices |
| Subtotal Number Of Employees | 0 | SubtotalNumberOfEmployees |
| Cont Number Of Offices | 0 | ContNumberOfOffices |
| Cont Number Of Employees | 0 | ContNumberOfEmployees |
| Total Number Of Offices | 0 | TotalNumberOfOffices |
| Total Number Of Employees | 0 | TotalNumberOfEmployees |
| Subtotal Amount Spent | 16963000 | SubtotalAmountSpent |
| Cont Amount Spent | 0 | ContAmountSpent |
| Total Amount Spent | 16963000 | TotalAmountSpent |
| Transfer To Foreign Corp | 1 | TransferToForeignCorp |
| Interest In Foreign Trust | 0 | InterestInForeignTrust |
| Own Foreign Corp | 1 | OwnForeignCorp |
| Passive Foreign Invest Co | 1 | PassiveForeignInvestCo |
| Foreign Partnership | 1 | ForeignPartnership |
| Boycott Countries | 0 | BoycottCountries |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII (3 entries)
| Type Of GrantTypeOfGrant | Number Of RecipientsNumberOfRecipients | Amount Of Non Cash AssistanceAmountOfNonCashAssistance | Method Of ValuationMethodOfValuation | Description Of Non Cash AssistanceDescriptionOfNonCashAssistance |
|---|---|---|---|---|
| SCHOLARSHIPS | 268 | 8138143 | FAIR MARKET VALUE | FINANCIAL AID ASSISTANCE |
| SCHOLARSHIPS - MOUNTAIN SCHOOL | 26 | 418390 | FAIR MARKET VALUE | FINANCIAL AID ASSISTANCE |
| SUPPLEMENTAL FINANCIAL AID | 93 | 90029 | FAIR MARKET VALUE | FINANCIAL AID ASSISTANCE |
Form990 Schedule I Part IV Form990ScheduleIPartIV (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | PART I, LINE 2: | SCHEDULE I, PART I, LINE 2: MOST GRANT EXPENSE CONSISTS OF SCHOLARSHIP AWARDS WHICH ARE CREDITED DIRECTLY TO STUDENT ACCOUNTS AT THE ACADEMY. |
| THE 93 STUDENTS THAT RECEIVED SUPPLEMENTAL FINANCIAL AID ARE PART OF THE SAME GROUP AS THE SCHOLARSHIPS WITH THE 268 RECIPIENTS. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | X | TravelForCompanions |
| Housing Allowance Or Residence | X | HousingAllowanceOrResidence |
| Personal Services | X | PersonalServices |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 1 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (7 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| THEODORICK BLAND | |||||||||||||
| 435781 | 0 | 0 | 0 | 114505 | 0 | 36100 | 0 | 49006 | 0 | 635392 | 0 | 0 | 0 |
| STEVEN MOORE | |||||||||||||
| 191778 | 0 | 7000 | 0 | 0 | 0 | 21904 | 0 | 773 | 0 | 221455 | 0 | 0 | 0 |
| GORDON SEWALL | |||||||||||||
| 172677 | 0 | 8000 | 0 | 0 | 0 | 14394 | 0 | 66271 | 0 | 261342 | 0 | 0 | 0 |
| CATHLEEN EVERETT | |||||||||||||
| 147514 | 0 | 0 | 0 | 0 | 0 | 11844 | 0 | 533 | 0 | 159891 | 0 | 0 | 0 |
| PAUL REBUCK | |||||||||||||
| 133244 | 0 | 1500 | 0 | 0 | 0 | 10660 | 0 | 24697 | 0 | 170101 | 0 | 0 | 0 |
| STEPHANIE TRUESDELL | |||||||||||||
| 118800 | 0 | 1500 | 0 | 0 | 0 | 26655 | 0 | 6646 | 0 | 153601 | 0 | 0 | 0 |
| DAVID BALL | |||||||||||||
| 115684 | 0 | 5000 | 0 | 0 | 0 | 9317 | 0 | 23003 | 0 | 153004 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| PART I, LINE 1A | TRAVEL FOR COMPANIONS IS LIMITED TO THE HEAD OF SCHOOL AND IS DONE SO WITH DISCRETION ON A CASE BY CASE BASIS WHEN DEEMED APPROPRIATE. THE TRAVEL FOR COMPANIONS BENEFIT IS TREATED AS NONTAXABLE COMPENSATION. HOUSING BENEFITS ARE NORMATIVE FOR HEAD OF SCHOOL AND CERTAIN OTHER KEY EMPLOYEES, OFFICERS, AND HIGHLY COMPENSATED EMPLOYEES TO BE AVAILABLE TO STUDENTS 24 HOURS A DAY TO FULLFILL DUTIES. HOUSING BENEFITS ARE TREATED AS A NONTAXABLE WORKING CONDITION FRINGE BENEFIT. PERSONAL SERVICES ARE PROVIDED IN THE FORM OF HOUSE CLEANING AND IS TREATED AS NONTAXABLE COMPENSATION. |
| PART I, LINE 7 | BONUSES FOR STEVEN MOORE $7,000; GORDON SEWALL $8,000; PAUL REBUCK $1,500; DAVID BALL $5,000; AND STEPHANIE TRUESDELL $1,500 WERE DETERMINED BY THE HEAD OF SCHOOL. |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI (4 entries)
| Issuer EINIssuerEIN | CUSIP NumberCUSIPNumber | Date IssuedDateIssued | Issue PriceIssuePrice | Description Of PurposeDescriptionOfPurpose | DefeasedDefeased | On Behalf Of IssuerOnBehalfOfIssuer | Pool FinancingPoolFinancing |
|---|---|---|---|---|---|---|---|
| MA DEV 2009 SERIES A | |||||||
| 043431814 | SEEBELOWX | 2009-12-22 | 25555000 | TO FUND CONSTRUCTION | 0 | 0 | 0 |
| MA DEV 2009 SERIES B | |||||||
| 043431814 | 57583RR64 | 2009-12-22 | 17265000 | TO FUND CONSTRUCTION | 0 | 0 | 0 |
| MA DEV 2009 SERIES C | |||||||
| 043431814 | SEEBELOWX | 2009-12-22 | 9610000 | TO FUND CONSTRUCTION | 0 | 0 | 0 |
| MA DEV 2003 | |||||||
| 043431814 | 57583FX71 | 2003-11-20 | 27346967 | TO FUND CONSTRUCTION | 1 | 0 | 0 |
Form990 Schedule K Part II Form990ScheduleKPartII (4 entries)
| Total ProceedsTotalProceeds | Amount In Reserve FundAmountInReserveFund | Refunding EscrowRefundingEscrow | Issuance Costs From ProceedsIssuanceCostsFromProceeds | Capital ExpendituresCapitalExpenditures | Other Spent ProceedsOtherSpentProceeds | Amount UnspentAmountUnspent | Year Of Subst CompletionYearOfSubstCompletion | Current RefundingCurrentRefunding | Advance RefundingAdvanceRefunding | Final Allocation MadeFinalAllocationMade | Adequate Books And Recds MaintaindAdequateBooksAndRecdsMaintaind | Amount Bond DefeasedAmountBondDefeased |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 27227554 | 2695327 | 12919895 | 230083 | 8999062 | 1883183 | 500004 | 2012 | 0 | 1 | 0 | 1 | |
| 17177758 | 2306 | 17025315 | 150137 | 2009 | 0 | 1 | 1 | 1 | ||||
| 10487310 | 961121 | 9469000 | 57189 | 2009 | 0 | 0 | 1 | 1 | ||||
| 25827785 | 10087211 | 525300 | 13260274 | 2004 | 0 | 1 | 1 | 1 | 1955000 |
Form990 Schedule K Part III Form990ScheduleKPartIII (4 entries)
| Owning Bond Financed PropertyOwningBondFinancedProperty | Any Lease ArrangementsAnyLeaseArrangements | Mngment Cntrct Bond Financd PrprtyMngmentCntrctBondFinancdPrprty | Any Research AgreementsAnyResearchAgreements | Prcntge Prvt Business Use By OthersPrcntgePrvtBusinessUseByOthers | Percentage Of Prvt Business Re UBIPercentageOfPrvtBusinessReUBI | Total Private Business UseTotalPrivateBusinessUse | Post Issuance Compliance ProcdrsPostIssuanceComplianceProcdrs |
|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 1 |
| 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 1 |
| 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 1 |
| 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 1 |
Form990 Schedule K Part IV Form990ScheduleKPartIV (4 entries)
| Form8038 T FiledForm8038TFiled | Variable Rate IssueVariableRateIssue | Hedge Identified In Books And RecdsHedgeIdentifiedInBooksAndRecds | Gross Proceeds Invested In GICGrossProceedsInvestedInGIC | Term Of GICTermOfGIC | Regulatory Safe Harbor SatisfiedRegulatorySafeHarborSatisfied | Gross Proceeds InvestedGrossProceedsInvested | Exception To RebateExceptionToRebate | Superintegrated HedgeSuperintegratedHedge | Hedge TerminatedHedgeTerminated |
|---|---|---|---|---|---|---|---|---|---|
| MORGAN STANLEY | |||||||||
| 0 | 0 | 0 | 1 | 15.700000000000 | 0 | 0 | 0 | ||
| SEE SCHEDULE O | |||||||||
| 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | ||
| (no name) | |||||||||
| 0 | 0 | 0 | 0 | 0 | 0 | ||||
| (no name) | |||||||||
| 1 | 0 | 0 | 0 | 0 | 0 | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fed Tax Requirements Compliance | X | FedTaxRequirementsCompliance |
Form990 Schedule K Part VI Form990ScheduleKPartVI (3 entries)
| IdentifierIdentifier | ExplanationExplanation |
|---|---|
| SCHEDULE K, PART I AND II: | FOR BOND A, THE DIFFERENCE BETWEEN PART II, LINE 3 AND PART I, COLUMN (E) IS THE RESULT OF THE APPLICATION OF GIC PRINCIPAL AND CUMULATIVE INVESTMENT EARNINGS. FOR BOND B, THE DIFFERENCE BETWEEN PART II, LINE 3 AND PART I, COLUMN (E) IS THE RESULT OF CUMULATIVE INVESTMENT EARNINGS. FOR BOND C, THE DIFFERENCE BETWEEN PART II, LINE 3 AND PART I, COLUMN (E) IS THE RESULT OF CUMULATIVE INVESTMENT EARNINGS. FOR BOND D, THE DIFFERENCE BETWEEN PART II, LINE 3 AND PART I, COLUMN (E) IS THE RESULT OF CUMULATIVE INVESTMENT EARNINGS AND THE AMOUNT OF BONDS LEGALLY DEFEASED. |
| FORM 990, SCHEDULE K, PART I, LINE A, COLUMN C: | CUSIP NUMBERS FOR THE MA DEV 2009 SERIES A BONDS ARE: 57583RQ40, 57583RR72, 57583RR57, 57583RR80, 57583RQ65, 57583RQ73 |
| FORM 990, SCHEDULE K, PART I, LINE C, COLUMN C: | CUSIP NUMBERS FOR THE MA DEV 2009 SERIES C BONDS ARE: 57583RQ81, 57583RQ99, 57583RR23, 57583RR64. |
Schedule L IRS990ScheduleL
Form990 Schedule L Part III Form990ScheduleLPartIII
Name Of Interested Business NameOfInterestedBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VARIOUS | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship With Organization | TUITION ABATEMENT | RelationshipWithOrganization |
| Amount Of Grant | 143580 | AmountOfGrant |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 101 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 681326 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | FAIR MARKET VALUE | MethodOfDeterminingRevenues |
Other Non Cash Contributions Table OtherNonCashContributionsTable
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Description | VARIOUS SILVER | Description |
| Number Of Contributions | 1 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 165757 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | FAIR MARKET VALUE | MethodOfDeterminingRevenues |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of8283 Received | 0 | NumberOf8283Received |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 1 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 0 | ThirdPartiesUsed |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (5 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION B, LINE 11 | THE INFORMATION REQUESTED ON THE 990 IS GATHERED BY THE BUSINESS OFFICE STAFF. THE 990 FORM IS PREPARED BY OUR INDEPENDENT ACCOUNTING FIRM, CBIZ TOFIAS. THE DRAFT FORM IS REVIEWED BY THE CONTROLLER, CFO, HEAD OF SCHOOL, AND IS REVIEWED AND APPROVED BY THE AUDIT COMMITTEE BEFORE BEING REVIEWED BY THE BOARD. THE DOCUMENT IS MADE AVAILABLE ON THE TRUSTEE WEBSITE, BEFORE FILING, AND ALL TRUSTEES ARE NOTIFIED BY EMAIL THAT THE FORM 990 IS AVAILABLE FOR REVIEW ON THE TRUSTEE WEBSITE. | |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CONTROLLER'S OFFICE REVIEWS TRANSACTIONS WITH INTERESTED PERSONS (TRUSTEES, TRUSTEE COMMITTEE MEMBERS, AD COUNCIL MEMBERS, DEPARTMENT HEADS, OFFICERS, OR ANY OTHER PERSON IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE AT THE ORGANIZATION) TO ENSURE THAT CONFLICTS ARE DISCLOSED. ALL INTERESTED PERSONS MUST COMPLETE A CONFLICT OF INTEREST POLICY MEMORANDUM OF DISCLOSURE ANNUALLY AND SHALL UPDATE THE DISCLOSURE AT ANY TIME DURING THE YEAR WHENEVER A POTENTIAL OR APPARENT CONFLICT MAY ARISE. THE AUDIT COMMITTEE, THE HEAD OF SCHOOL, OR THE BOARD OF TRUSTEES, AS APPROPRIATE, SHALL ADDRESS CONFLICTS OF INTEREST INVOLVING INTERESTED PERSONS IN ACCORDANCE WITH THE STANDARDS SET FORTH IN THIS POLICY. PROCEDURES FOR ADDRESSING CONFLICTS OF INTEREST WITH INTERESTED PERSONS: 1) PROHIBITION. NO INTERESTED PERSON MAY ENTER INTO A TRANSACTION OR ARRANGEMENT WITH THE ORGANIZATION UNLESS THE FACTS OF SUCH TRANSACTION OR ARRANGEMENT, INCLUDING THE INTERESTED PERSON'S INTEREST THEREIN, HAVE BEEN FULLY DISCLOSED AND THE TRANSACTION OR ARRANGEMENT HAS BEEN EXPRESSLY AUTHORIZED BY THE DISINTERESTED MEMBERS OF THE AUDIT COMMITTEE OR THE BOARD OF TRUSTEES, AS APPLICABLE. 2) DUTY TO DISCLOSE. IN CONNECTION WITH ANY TRANSACTION OR ARRANGEMENT UNDER CONSIDERATION BY THE ORGANIZATION, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF SUCH INTERESTED PERSON'S OR ANY OTHER INTERESTED PERSON'S INTEREST TO THE ORGANIZATION'S AUDIT COMMITTEE. 3) PROCESS: A. AN INTERESTED PERSON MUST BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL FACTS TO THE AUDIT COMMITTEE OR BOARD OF TRUSTEES AT A MEETING CALLED FOR THE PURPOSE OF CONSIDERING THE TRANSACTION OR ARRANGEMENT AND THE INTERESTED PERSON'S INTEREST. AFTER THE INTERESTED PERSON'S PRESENTATION, THE INTERESTED PERSON SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, SUCH TRANSACTION OR ARRANGEMENT. B. THE CHAIR OF THE AUDIT COMMITTEE OR THE PRESIDENT OF THE BOARD OF TRUSTEES SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. C. AFTER EXERCISING DUE DILIGENCE, INCLUDING A REVIEW OF SURVEYS OF COMPARABLE DATA WHERE APPROPRIATE, THE AUDIT COMMITTEE OR BOARD OF TRUSTEES SHALL DETERMINE WHETHER THE ORGANIZATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. D. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE AUDIT COMMITTEE OR BOARD OF TRUSTEES SHALL DETERMINE BY A VOTE OF THE DISINTERESTED TRUSTEES OF THE AUDIT COMMITTEE OR THE BOARD OF TRUSTEES, AS APPLICABLE, WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE, AND THEREFORE WHETHER TO ENTER INTO SUCH TRANSACTION OR ARRANGEMENT. | |
| FORM 990, PART VI, SECTION B, LINE 15 | IN SETTING, REVIEWING AND APPROVING THE COMPENSATION OF THE HEAD OF SCHOOL AND REVIEWING AND APPROVING THE COMPENSATION OF THE ADMINISTRATIVE COUNCIL, THE COMPENSATION COMMITTEE OF MILTON ACADEMY UTILIZES A THREE-PART PROCESS. THE PROCESS INCLUDES: IMPARTIAL DECISION MAKERS, COMPARABILITY DATA, AND CONCURRENT DOCUMENTATION. THE PROCEDURES ARE IN PLACE SO THAT PAYMENTS UNDER THE ORGANIZATION'S EXECUTIVE COMPENSATION ARRANGEMENTS ARE PRESUMED TO BE REASONABLE, UNDER TREAS. REG. SECTION 53.4958-6. 1. IMPARTIAL DECISION MAKERS. THE COMPENSATION ARRANGEMENT MUST BE APPROVED IN ADVANCE (BEFORE ANY PAYMENT IS MADE) BY THE COMPENSATION COMMITTEE OF MILTON ACADEMY COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT. 2. COMPARABILITY DATA. WHEN THE COMPENSATION COMMITTEE IS CONSIDERING COMPENSATION TO COVERED INDIVIDUALS, IT MUST RELY ON COMPARABILITY DATA THAT DEMONSTRATE THE FAIR MARKET VALUE OF THE COMPENSATION IN QUESTION. FOR EXAMPLE, WHEN CRAFTING COMPENSATION PACKAGES, THE COMPENSATION COMMITTEE MUST SECURE DATA THAT DOCUMENTS COMPENSATION LEVELS FOR SIMILARLY QUALIFIED INDIVIDUALS IN LIKE POSITIONS AT LIKE ORGANIZATIONS. POSSIBLE SOURCES INCLUDE, BUT ARE NOT NECESSARILY LIMITED TO: A) EXPERT COMPENSATION STUDIES BY INDEPENDENT FIRMS; B) SURVEY DATA FROM THE ASSOCIATION OF BUSINESS OFFICERS AT PREPARATORY SCHOOLS, NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS, ASSOCIATION OF INDEPENDENT SCHOOLS OF NEW ENGLAND, OR OTHER EDUCATIONAL ASSOCIATIONS C) INFORMATION OBTAINED FROM THE IRS FORM 990 FILINGS OF SIMILAR ORGANIZATIONS D) WRITTEN JOB OFFERS FOR POSITIONS AT SIMILAR ORGANIZATIONS. 3. CONCURRENT DOCUMENTATION. THE COMPENSATION COMMITTEE MUST DOCUMENT HOW IT REACHED ITS DECISIONS, INCLUDING THE DATA ON WHICH IT RELIED. RECORDS MUST BE PREPARED BEFORE THE LATER OF THE NEXT MEETING OF THE AUTHORIZED BODY OR 60 DAYS AFTER THE FINAL ACTION OR ACTIONS OF THE AUTHORIZED BODY ARE TAKEN. RECORDS MUST BE REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE AS REASONABLE, ACCURATE AND COMPLETE WITHIN A REASONABLE TIME PERIOD THEREAFTER. TO QUALIFY AS CONCURRENT DOCUMENTATION, WRITTEN OR ELECTRONIC RECORDS OF THE COMPENSATION COMMITTEE (SUCH AS MEETING MINUTES) MUST NOTE: A) THE TERMS OF THE COMPENSATION AND THE DATE IT WAS APPROVED; B) THE MEMBERS OF THE COMPENSATION COMMITTEE WHO WERE PRESENT DURING THE DISCUSSION OF THE COMPENSATION THAT WAS APPROVED AND THOSE WHO VOTED ON IT; C) THE COMPARABILITY DATA OBTAINED AND RELIED UPON AND HOW THE DATA WAS OBTAINED; D) IF THE COMPENSATION COMMITTEE DETERMINES THAT REASONABLE COMPENSATION FOR A SPECIFIC ARRANGEMENT IS HIGHER OR LOWER THAN THE RANGE OF COMPARABILITY DATA OBTAINED, THE COMPENSATION COMMITTEE MUST RECORD THE BASIS FOR ITS DETERMINATION, AND E) ANY ACTIONS TAKEN WITH RESPECT TO CONSIDERATION OF THE COMPENSATION BY ANYONE WHO IS OTHERWISE A MEMBER OF THE COMPENSATION COMMITTEE BUT WHO HAD A CONFLICT OF INTEREST WITH RESPECT TO THE DECISION ON THE COMPENSATION. | |
| FORM 990, PART VI, SECTION C, LINE 19 | MILTON ACADEMY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC VIA ITS WEBSITE: WWW.MILTON.EDU. THE FORM 990 IS AVAILABLE UPON REQUEST. | |
| FORM 990, PART XI, LINE 5: | NET UNREALIZED LOSSES ON INVESTMENTS: -16,540,328. CHANGE IN SPLIT INTEREST AGREEMENTS -47,166. LOSS ON INTEREST RATE SWAP CONTRACT -682,360. TOTAL TO FORM 990, PART XI, LINE 5: -17,269,854. | CHANGES IN NET ASSETS OR FUND BALANCES: |