Tower School In Marblehead Inc
- Assets
- $19.8m
- Revenue
- $10.1m
- Investments
- $0.0
- Employees
- 107
- Location
- Marblehead, MA
- Founding
- 09/1938
- Data as of
- 06/2022
- EIN
- 04-2105750
Organization Overview
Tower School In Marblehead Inc is located in Marblehead, MA. The organization was established in 1938. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 06/2022, Tower School In Marblehead Inc employed 107 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tower School In Marblehead Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Tower School In Marblehead Inc generated $10.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $9.9m during the year ending 06/2022. While expenses have increased by 1.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
AN INDEPENDENT DAY SCHOOL SERVING PRE-KINDERGARTEN THROUGH GRADE 8.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHOOL OPERATES AS A COEDUCATIONAL INDEPENDENT DAY SCHOOL OFFERING A BROAD LIBERAL CURRICULUM FOR GRADES PRE-KINDERGARTEN THROUGH EIGHT. EDUCATED 254 STUDENTS, GRADUATED 26 STUDENTS AND PLACED THEM IN NUMEROUS QUALITY PUBLIC AND PRIVATE SECONDARY SCHOOLS.
THE SUMMER PROGRAM AT TOWER SCHOOL OFFERS A VARIETY OF PROGRAMS FOR CHILDREN AGES 3-16, INCLUDING ART, TECHNOLOGY, ROBOTICS, AND ADVENTURE CAMPS. 195 CHILDREN ATTENDED THE SUMMER PROGRAM IN JULY 2021.
PARENTS ASSOCIATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Serena Gifford Head Of School | Officer | 60 | $199,134 |
Dean A Sidell Assoc. Head Of School/cfo | Officer | 60 | $140,346 |
Ryan Buckley Head Of Upper School | 40 | $110,762 | |
Elizabeth Buchan Head Of Lower School | 40 | $102,000 | |
Matthew Carter Trustee/treasurer | OfficerTrustee | 2 | $0 |
Angela Munro Trustee/clerk | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Quirk Construction Corp Backyard Improvement Project | 6/29/20 | $1,247,382 |
Quirk Construction Corp Backyard Improvement Project | 6/29/20 | $1,247,382 |
Me O'brien And Sons Inc Backyard Landscaping Project | 6/29/20 | $284,469 |
Me O'brien And Sons Inc Backyard Landscaping Project | 6/29/20 | $284,469 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $93,965 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $355,184 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $449,149 |
| Total Program Service Revenue | $9,248,098 |
| Investment income | $279,984 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $113,681 |
| Net Gain/Loss on Asset Sales | $3,518 |
| Net Income from Fundraising Events | -$29,934 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,113,331 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,266,483 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $465,147 |
| Compensation of current officers, directors, key employees. | $103,338 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,703,847 |
| Pension plan accruals and contributions | $163,395 |
| Other employee benefits | $994,128 |
| Payroll taxes | $300,207 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,038 |
| Fees for services: Accounting | $31,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $51,988 |
| Fees for services: Other | $228,605 |
| Advertising and promotion | $14,368 |
| Office expenses | $75,072 |
| Information technology | $73,682 |
| Royalties | $0 |
| Occupancy | $259,611 |
| Travel | $46,042 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $170,482 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $559,139 |
| Insurance | $79,176 |
| All other expenses | $40,150 |
| Total functional expenses | $9,874,468 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,304,149 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $48,237 |
| Accounts receivable, net | $3,825,336 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $88,579 |
| Net Land, buildings, and equipment | $8,933,262 |
| Investments—publicly traded securities | $5,634,418 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,833,981 |
| Accounts payable and accrued expenses | $664,202 |
| Grants payable | $0 |
| Deferred revenue | $6,169,489 |
| Tax-exempt bond liabilities | $5,050,759 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $11,884,450 |
| Net assets without donor restrictions | $6,473,705 |
| Net assets with donor restrictions | $1,475,826 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $19,833,981 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Tower School In Marblehead Inc has recieved totaling $8,466.
| Awarding Organization | Amount |
|---|---|
Ge Foundation Norwalk, CT PURPOSE: MATCHING GIFTS | $3,350 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $2,500 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $1,800 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $416 |
Fidelity Foundation Boston, MA PURPOSE: MATCHING GIFTS TO EDUCATION | $200 |
Fidelity Foundation Boston, MA PURPOSE: MATCHING GIFTS TO EDUCATION | $200 |
Endowment Analysis
| Beg. Balance | $6,546,454 |
| Earnings | -$634,749 |
| Net Contributions | $55,578 |
| Other Expense | $302,093 |
| Grants | $491 |
| Ending Balance | $5,664,699 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jumpstart For Young Children Inc Boston, MA | $20,704,200 | $25,715,901 |
Holyoke Chicopee Springfield Head Start Inc Springfield, MA | $4,876,659 | $18,197,572 |
Belmont Day School Inc Belmont, MA | $53,871,739 | $17,214,948 |
The Kingsley Montessori School Inc Boston, MA | $12,852,129 | $12,365,430 |
Waldorf School Of Garden City Garden City, NY | $13,682,215 | $13,601,476 |
Nashoba Brooks School Of Concord Concord, MA | $34,636,415 | $10,867,224 |
Chestnut Hill School Chestnut Hill, MA | $33,385,087 | $15,409,802 |
Montessori Association Of New York New York, NY | $10,174,836 | $11,317,799 |
West Side Montessori School New York, NY | $34,513,067 | $10,367,667 |
Crossroads Continuum Inc Hudson, MA | $10,592,948 | $12,454,903 |
Inly School Inc Scituate, MA | $15,613,460 | $10,498,509 |
Brooklyn Heights Montessori School Brooklyn, NY | $20,633,669 | $10,305,146 |