2012-03-23T11:39:44-07:00 2011-06-30 990 2010-07-01 042103632 TABOR ACADEMY TABO 5087482000 Front Street Marion MA 02738 Paul White 5087482000 2012-03-21 2010 2016-02-24 21:20:13Z Jay S Stroud Tabor Academy Marion MA 02738 28051075 0 X www.taboracademy.org X 1876 MA Independent Secondary Education 23 23 315 0 0 0 2052666 2112300 23656938 24783217 747728 1117758 5578 37800 26462910 28051075 4647100 4545870 0 0 12448522 12709988 0 0 1065721 8643570 9356653 25739192 26612511 723718 1438564 76203024 81849732 22312902 21272659 53890122 60577073 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 21784287 4545870 24783217 Tabor Academy is an independent secondary boarding and day school engaged in the process of educating approximately 500 students. 0 0 0 21784287 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 0 1 50 0 1 315 1 0 1 CJ 0 0 0 1 1 0 1 1 1 1 0 X 23 23 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 Tabor Academy Marion MA 02738 Peter Aronson 2 X 0 0 0 David Barrett 2 X 0 0 0 Keith Browning 5 X X 0 0 0 William Phelps 2 X 0 0 0 R William Blasdale 2 X 0 0 0 Edward Jeager 2 X 0 0 0 Barbara Marlow 2 X 0 0 0 Phillips Smith 2 X X 0 0 0 Gregory Barnhill 2 X 0 0 0 Carmine Martignetti 2 X 0 0 0 Deborah Clark 2 X X 0 0 0 Joanne Fallon 2 X 0 0 0 Geoffrey Worrell 2 X 0 0 0 William Hurley III 2 X 0 0 0 Jennifer McIntire 2 X 0 0 0 Louis Wolfe 2 X 0 0 0 Susan Grosart 2 X 0 0 0 Lee Pokoik 2 X 0 0 0 David Campbell 2 X 0 0 0 John Swope 2 X X 0 0 0 Paul Murphy 2 X 0 0 0 Charles Talanian 2 X 0 0 0 James Tomlinson 2 X 0 0 0 Jay Stroud 50 X 281411 0 37300 Paul White 50 X 209804 0 35000 Donald Wing 40 X 122294 0 23200 Richard Roller 40 X 92863 0 15800 Andrew McCain 40 X 91398 0 18000 797770 0 129300 3 0 1 0 Prospect Building Services 360 Pearl Street Malden MA 02148 Custodial Services 174730 1 0 0 0 0 0 2112300 146502 2112300 Tuition 900099 22016185 22016185 0 0 Endowment Availment 900099 1390102 1390102 0 0 Misc Income (no UBIT) 900099 828884 828884 0 0 Trust Income 900099 308418 308418 0 0 Student Activities 900099 231095 231095 0 0 8533 8533 0 0 24783217 307140 0 0 307140 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 793518 17100 0 0 793518 17100 810618 0 0 810618 0 0 0 0 0 0 0 0 0 0 0 0 37800 0 37800 37800 0 0 0 28051075 24821017 0 1117758 0 0 4545870 4545870 0 0 0 0 824072 0 824072 0 0 0 0 0 8937261 7934331 358609 644321 820471 729121 59134 32216 1449130 1177900 175577 95653 679054 551957 82274 44823 0 0 0 0 60749 0 60749 0 82948 0 82948 0 0 0 0 0 0 0 79771 0 79771 0 76616 0 76616 0 183517 64326 49115 70076 496134 351370 126399 18365 75999 0 75999 0 0 0 0 0 1883573 1631703 251870 0 71990 18253 12213 41524 0 0 0 0 14925 1853 9629 3443 637782 0 637782 0 0 0 0 0 1876638 1876638 0 0 166957 0 166957 0 Instruction 940045 940045 0 0 Student Support Services 1492685 1492685 0 0 Waterfront 236295 236295 0 0 Administration 748089 0 632789 115300 231940 231940 0 0 26612511 21784287 3762503 1065721 2112071 3150723 78041 69116 463323 649352 1698709 1403881 0 0 0 0 542166 509768 0 0 645328 665715 63977909 28039694 36672526 35938215 17521169 19319954 8921867 10935959 0 0 0 0 7547824 9207049 76203024 81849732 1834920 2054411 0 0 0 0 11495000 10685000 0 0 0 0 1300000 1300000 0 0 7682982 7233248 22312902 21272659 X 20356770 21617175 13565253 17255283 19968099 21704615 53890122 60577073 76203024 81849732 X 1438564 5248387 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 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 52614710 21357310 31257400 0 1904257 825820 1078437 0 8815410 5856564 2958846 0 223773 0 223773 35938215 0 0 Investment partnerships 10935959 F 10935959 Beneficial Interest in Perpetual Trust 7289067 Beneficial Interest in CRUTs 1790441 Trust Income Receivable 81948 Stock in Transit 22800 Loans to Employees 16372 Other Receivables 6421 9207049 0 Advanced Tuition and Deposit 3612138 Accrued Pension Liability 1503461 Interest Rate Swape Agreement 1352616 Annuity Payable 765033 7233248 28051075 26612511 1438564 4206100 0 -119102 0 1161389 5248387 6686951 26919721 4206100 0 0 0 4206100 22713621 0 5337454 5337454 28051075 22066641 0 0 0 0 0 22066641 0 4545870 4545870 26612511 SchD_P05_S00_L04 Schedule D, Part V, Line 4 Support scholarship, faculty, academic and extracurricular program, and general advancement of the institution. SchD_P10_S00_L02 Schedule D, Part X, Line 2 As required by Accounting Standards Codification ("ASC") 740, Income Taxes (formerly FASB Interpretation Number 48, "Accounting for Uncertainty in Income Taxes" ("FIN $*"), which clarifies SFAS No. 109, "Accounting for 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 an audit. For tax positions meeeing the more-than-likely--than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Change in split int =1,698,419. Income used for operations = (1,297,944). Change in swap agreement = 333,468. Pension charge = 425,180. Other = 2,266. Total = 1,161,389. SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Contributions = 833,521. Provision for uncollectible = -79,737. Slae of asset = 37,800. Subtotal = 791584. Financial Aid = 4,548,870. Grand total = 5,337,454. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Financial Aid = 4,545,870 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 local and regional newspapers during period of solicitation of students. 1 Scholarship to students to attend Tabor Academy. 160 3649970 SchI_P01_S00_L02 Schedule I, Part I, Line 2 All grants are scholarships awarded by demonstrated need in the form of tuition remission. 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 Stroud 281411 0 0 0 0 0 28500 0 8786 0 318697 0 369737 0 Paul White 209804 0 0 0 0 0 26250 0 8786 0 244840 0 235950 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a Jay Stroud, Headmaster, is required to live on campus as part of his job description and is provided with housing for the convenience of Tabor Academy. He is provided with memberships to our town yacht club and golf courxe, as well as being provided with maid services for his residence. All of the above benefits are treated as non-taxable items. SchJ_P01_S00_L04 Schedule J, Part I, Line 4 Jay Stroud, Headmaster, participated in a supplemental non-qualified retirement plan, earning for fiscal 10-11 the approximate amount of $112,300. We anticipate the total deferred compensation to be paid out in year 11-12 in the approximate amount of $190,000. Massachusetts Development Finance Agency 043431814 57583RJM8 2007-02-08 7805000 Refunding 1998 Series 1 0 0 Massachusetts Development Finance Agency 043431814 57583RJN6 2007-02-08 5910000 Construction Math/Science Building 1 0 0 Massachusetts Development Finance Agency 043431814 57583RJN6 2009-09-01 13715000 Refunding 2007 Series 0 0 0 7805000 7805000 0 0 0 0 0 0 0 0 0 0 2009 1 0 1 1 5910000 5910000 0 0 0 0 0 0 0 0 0 0 2009 0 0 0 1 0 0 13715000 0 0 0 0 0 0 0 0 0 2009 1 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 X 18 146502 mkt price date of gift 0 0 1 0 F990_P06_S0B_L11a Form 990, Part VI, Section B, Line 11a Once prepared and filed, the form is distributed to the Headmaster, the Board Officers, Chairman of the Finance Committee, and members 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 at a previous Audit Committee meeting, with findings 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 Compensation for the Headmaster is set by the Board of Trustees after reviewing comparative data and careful deliberation. The Headmaster 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 Tabor Academy makes its governing documents, conflict of interest policies, and financial statements available to the public upon request. F990_P11_S00_L05 Form 990, Part XI, Line 5 All of these figures can be found in Schedule D, Part XI and Part XIV. Net unrealized gains on investments = 4,206,100. Invvestment expenses = (191,102). Change in split interest = 1,698,419. Endowment income used for operations = (1,297,944). Changes in swap agreement = 333,468. Pension charge = 425,180. Other = 2,266. Gand total = 5,248,387. We are required to file electronically. The IRS site for electronic filing was shut down for 2 months and an extension to file was, thus, granted.