Civic Intelligence

Dexter Southfield Inc.

990 • Fiscal year 2019 • EIN 04-2104152

Jul 01, 2018 to Jun 30, 2019 • Filed on Sep 29, 2020

20 Newton StreetBrookline, MA 02445-7498

(617) 522-5544

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

66th percentile

0.45x

Higher debt load relative to assets than 66% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

69th percentile

0.76x

Higher debt load relative to revenue than 69% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Net Margin

79th percentile

20%

Higher net margin than 79% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

78th percentile

$661,144

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Asset Growth

63rd percentile

8.5%

Faster asset growth than 63% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

86th percentile

29%

Faster revenue growth than 86% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Assets

Up

$96,434,315

Up $7,594,465 (+8.5%) from 2018

Net Assets

Up

$53,086,936

Up $11,683,204 (+28%) from 2018

Liabilities

Down

$43,347,379

Down $4,088,739 (-8.6%) from 2018

Revenue

Up

$56,706,540

Up $12,598,942 (+29%) from 2018

Expenses

Up

$45,203,930

Up $3,103,887 (+7.4%) from 2018

Net Income

Up

$11,502,610

Up $9,495,055 (+473%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200M$150M$100M$50M$0Assets 2011: $67,648,130Liabilities 2011: $42,168,054Net Assets 2011: $25,480,0762011Assets 2012: $64,084,779Liabilities 2012: $42,166,545Net Assets 2012: $21,918,2342012Assets 2013: $66,944,074Liabilities 2013: $43,539,064Net Assets 2013: $23,405,0102013Assets 2014: $69,012,884Liabilities 2014: $44,560,531Net Assets 2014: $24,452,3532014Assets 2015: $67,449,183Liabilities 2015: $42,592,007Net Assets 2015: $24,857,1762015Assets 2016: $67,865,486Liabilities 2016: $42,408,679Net Assets 2016: $25,456,8072016Assets 2017: $79,660,507Liabilities 2017: $41,511,160Net Assets 2017: $38,149,3472017Assets 2018: $88,839,850Liabilities 2018: $47,436,118Net Assets 2018: $41,403,7322018Assets 2019: $96,434,315Liabilities 2019: $43,347,379Net Assets 2019: $53,086,9362019Assets 2020: $106,414,295Liabilities 2020: $51,112,611Net Assets 2020: $55,301,6842020Assets 2021: $119,216,504Liabilities 2021: $45,634,638Net Assets 2021: $73,581,8662021Assets 2022: $119,267,019Liabilities 2022: $45,943,837Net Assets 2022: $73,323,1822022Assets 2023: $143,274,204Liabilities 2023: $53,822,868Net Assets 2023: $89,451,3362023Assets 2024: $168,795,264Liabilities 2024: $58,573,799Net Assets 2024: $110,221,4652024Assets 2025: $184,756,839Liabilities 2025: $56,925,022Net Assets 2025: $127,831,8172025

Highlighted filing

2019

Assets$96,434,315
Liabilities$43,347,379
Net Assets$53,086,936

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$100M$50M$0Expenses 2011: $29,423,5552011Expenses 2012: $27,571,9602012Revenue 2013: $32,539,270Expenses 2013: $28,300,638Net Income 2013: $4,238,6322013Revenue 2014: $33,212,858Expenses 2014: $32,585,259Net Income 2014: $627,5992014Revenue 2015: $36,077,974Expenses 2015: $32,783,379Net Income 2015: $3,294,5952015Revenue 2016: $38,544,113Expenses 2016: $34,716,429Net Income 2016: $3,827,6842016Revenue 2017: $47,735,621Expenses 2017: $38,781,327Net Income 2017: $8,954,2942017Revenue 2018: $44,107,598Expenses 2018: $42,100,043Net Income 2018: $2,007,5552018Revenue 2019: $56,706,540Expenses 2019: $45,203,930Net Income 2019: $11,502,6102019Revenue 2020: $49,443,091Expenses 2020: $46,241,614Net Income 2020: $3,201,4772020Revenue 2021: $58,438,330Expenses 2021: $49,787,036Net Income 2021: $8,651,2942021Revenue 2022: $60,169,167Expenses 2022: $53,777,715Net Income 2022: $6,391,4522022Revenue 2023: $67,954,751Expenses 2023: $56,680,780Net Income 2023: $11,273,9712023Revenue 2024: $72,781,765Expenses 2024: $61,029,808Net Income 2024: $11,751,9572024Revenue 2025: $85,040,264Expenses 2025: $64,857,572Net Income 2025: $20,182,6922025

Highlighted filing

2019

Revenue$56,706,540
Expenses$45,203,930
Net Income$11,502,610
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Sep 29, 2020
Return Version
2018v3.2
Gross Receipts
$60,126,085
Mission and Program Overview

Mission

Dexter southfield school helps boys and girls develop their individualtalents and build an ethical foundation for life. Students learn to lead with confidence, serve with compassion, and live by the motto, "our best today, better tomorrow."

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$42,547,961$45,128,881▲ $2,580,920
Investments in Publicly Traded Securities$36,336,172$36,595,675▲ $259,503
Pledges and Grants Receivable$3,009,755$8,053,982▲ $5,044,227
Investments Other Securities$2,712,888$2,894,551▲ $181,663
Cash and Non-Interest-Bearing Accounts$3,440,288$2,843,261▼ $597,027
Prepaid Expenses and Deferred Charges$509,227$543,413▲ $34,186
Accounts Receivable$77,823$182,980▲ $105,157
Inventories for Sale or Use$132,874$141,001▲ $8,127
Savings and Temporary Cash Investments$926--
Total Assets$88,839,850$96,434,315▲ $7,594,465
Other Assets Total$71,936$50,571▼ $21,365
Liabilities
Tax Exempt Bond Liabilities$32,369,504$32,260,960▼ $108,544
Deferred Revenue$9,108,036$7,713,609▼ $1,394,427
Mortgage Notes Payable Secured by Investment Property$4,500,000$2,500,000▼ $2,000,000
Accounts Payable and Accrued Expenses$1,193,147$608,469▼ $584,678
Other Liabilities$265,431$264,341▼ $1,090
Total Liabilities$47,436,118$43,347,379▼ $4,088,739
Net Assets / Fund Balance
Unrestricted Net Assets$34,691,967$39,993,070▲ $5,301,103
Temporarily Rstr Net Assets$4,904,990$11,280,372▲ $6,375,382
Permanently Rstr Net Assets$1,806,775$1,813,494▲ $6,719
Total Net Assets Fund Balance$41,403,732$53,086,936▲ $11,683,204
Total Liabilities and Net Assets / Fund Balance$88,839,850$96,434,315▲ $7,594,465

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$33,915,395$29,813,144$63,728,539
Leasehold Improvements$6,115,906$4,787,345$10,903,251
Equipment$3,022,649$7,409,256$10,431,905
Other Land Buildings$1,716,184-$1,716,184
Land$358,747-$358,747

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$38,844,004$282,201▲ $1,501,485$1,176,568$39,414,229
2017$37,524,028$202,750▲ $2,341,659$1,191,297$38,844,004
2016$35,443,006$53,243▲ $3,708,243$1,680,464$37,524,028
2015$30,036,887$236,486▲ $6,084,783$915,150$35,443,006
2014$31,670,189$176,682▼ $796,056$1,013,928$30,036,887
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Todd VincentHead of SchoolFT$382,352$278,792$661,144
Daniel DonatoAdmissions/coachFT$204,190$218,940$423,130
Daniel Stewart TuckerAsst. Head of SchoolFT$188,950$190,788$379,738
Stephanie GovernaliDirector of AdvancementFT$202,000$109,436$311,436
Jeffrey DuboisChief Financial OfficerFT$232,300$36,599$268,899
Ian MoorhouseDirector of OperationsFT$141,400$99,977$241,377
Brian MccolganDirector of AthleticsFT$141,400$87,992$229,392
Carmen UrbonasDirector of Human ResourcesFT$171,700$23,748$195,448
George WrightAthletics TeacherFT$148,850$38,583$187,433
Alexander MelansonAssistant Director of FinanceFT$127,025$57,493$184,518

Board Members and Trustees

NameTitle
Mark E FuscoTrustee/president
Laura Conrad WilsonTrustee/vice President
Brant C BinderTrustee
Christopher B RoyTrustee
David DormonTrustee
Dr David S BrownTrustee
Edward M MahoneyTrustee
Elizabeth H BaldiniTrustee
F Warren McfarlanTrustee
Gloria YangTrustee
Hasan JafriTrustee
IAN O' KEEFFETrustee
Jonathan a KraftTrustee
Meghan SwensonTrustee
PETER L O'BRIENTrustee
Rylan M HamiltonTrustee
Scott BarringerTrustee
Scott GieselmannTrustee
Stefanie CroninTrustee
Susannah WilsonTrustee
Jeffrey UngerTrustee A/o 4/18/19
Jessica SchmitzTrustee A/o 4/18/19
Kenneth ChicosTrustee A/o 4/18/19
Michael ForresterTrustee A/o 4/18/19
Robert McaleerTrustee A/o 4/18/19
Terence ConnellTrustee A/o 4/18/19
Jarome IginlaTrustee A/o 4/8/19
Sean KeohaneTrustee A/o 5/17/19
Christopher H ReynoldsTrustee/clerk
Karen W MuellerTrustee/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Sage Dining Services INCFood Service1402 YORK ROAD SUITE 100, Lutherville, MD 21093$1,474,471
Ae Mechanical INCGas And Heating Contractor5-7 DELAWARE DRIVE, Salem, NH 03079$513,996
Prospect Building Services CorpCleaning Services360 PEARL STREET, Malden, MA 02148$247,161
Schwartz Hannum PCLawyer/consultant11 CHESTNUT STREET, Andover, MA 01810$150,402
Local Motion Of Boston INCTransportation66B ROCSAM PARK ROAD, Braintree, MA 02184$120,633
Revenue and Support

Revenue Composition

Contributions and Grants
$13,468,404
Program Service Revenue
$41,771,901
Investment Income
$1,466,235
Other Revenue
$0
All Other Contributions
$13,468,404
Change in Net Assets
$11,502,610

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded21$700,933Fair Market Value (FMV) on Date of Gift
Total Noncash Contributions21$700,933-

Audited Revenue Reconciliation

Revenue per Audited Statements
$45,436,910
Revenue Not Reported on Financial Statements
$11,269,630
Revenue Not Reported on Form 990
$180,594
Other Revenue Adjustments
$11,140,545
Total Revenue per Audited Statements
$45,617,504
Total Revenue per Form 990
$56,706,540
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$21,453,459
Other Expenses$12,609,926
Grants and Similar Amounts Paid$11,140,545
Total Fundraising Expense$1,664,476
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$12,089,636$1,708,455$647,833$14,445,924
Grants to Domestic Individuals$11,140,545--$11,140,545
Other Employee Benefits$2,397,522$365,417$74,599$2,837,538
Depreciation Depletion$2,434,844$106,541$57,168$2,598,553
Occupancy$2,305,663$100,888$54,135$2,460,686
Current Officers, Directors, Trustees, and Key Employees$380,743$1,279,885$313,893$1,974,521
Interest$1,407,873$61,604$33,056$1,502,533
Payroll Taxes$932,448$175,047$60,514$1,168,009
Pension Plan Contributions$781,972$120,329$43,240$945,541
All Other Expenses$749,190$116,919$36,333$902,442
Other Expenses$661,557$144,572$44,926$661,557
Insurance$279,650$12,237$6,566$298,453
Fees for Services Legal-$277,153-$277,153
Travel-$4,138$216,845$220,983
Office Expenses$140$136,527$70,177$206,844
Fees for Service Investment Mgmnt Fees-$129,085-$129,085
Comp Disqual Persons$81,926--$81,926
Fees for Services Other-$78,680-$78,680
Fees for Services Accounting-$51,590-$51,590
Information Technology$33,918$7,490$2,328$43,736
Conferences and Meetings$27,215$6,010$1,868$35,093
Advertising$14,498$3,202$995$18,695
Total Functional Expenses$38,653,685$4,885,769$1,664,476$45,203,930

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$45,203,930
Expenses per Audited Statements$33,934,300
Total Expenses per Audited Statements$33,934,300
Expenses Not Reported on Financial Statements$11,269,630
Other Expense Adjustments$11,140,545
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Kristen VincentWife of Head of SchoolEmployee of the SchoolNo$81,926
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest Payable$254,567
Charitable Gift Annuity Payable$9,774

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMass Development Finance Agency2007-08-02$47,720,000Construction of new campus building
BMass Development Finance Agency2015-09-14$32,262,736To retire a portion of 2007 bonds and fund the refunding trust agreement

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$47,720,000$31,752,320$46,780,000$510,416
B$32,262,736---

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
Yes
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

Minutes of the meetings of the board of trustees are kept.

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by the president, treasurer, and audit committee of the corporation. The form 990 is then provided to the board for review before it is filed.

Form 990, Part VI, Section B, Line 12C

The school conducts periodic reviews to determine whether any conflict of interest exists. Additionally, the school requires all members of the board of trustees, officers, and principal administrators of the school to complete an annual conflict of interest disclosure form. The school also distributes this policy to any third party who is engaged by the school to provide consulting or financial and operating decisions. If there is a possible conflict of interest, the interested person must disclose the existence to the committee on trustees and governanace and any other board committee considering the proposed transaction or arrangement. Once the disclosure has been made, the interested person must leave the board meeting while the determination of a conflict of interest is discussed and voted on. If a conflict of interest is found, the governance committee will determine whether or not the transaction is in the school's best interest and whether the transaction is fair and reasonable to the school.

Form 990, Part VI, Section B, Line 15

Following a comprehensive compensation review and analysis of salary and benefits for all employees, the board of trustees made an adjustment to the compensation structure for its head of school to ensure adequate and competitive compensation. The compensation process requires review and approval by the board of trustees. They compare data from comparable surrounding private schools to determine adequate compensation. The deliberation is documented. Deferred compensation was eliminated in lieu of an increase to the head of school's base pay.

Form 990, Part VI, Section C, Line 19

The school's documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Dexter Southfield Inc
EIN
04-2104152
Phone
6175225544
Address
20 NEWTON STREET, BROOKLINE, MA 02445-7498

Signing Officer

Name
Jeffrey Dubois
Title
Chief Financial Officer
Phone
6175225544
Signed
2020-09-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey Dubois
Formed
1926
Legal Domicile
Ma
Voting Board Members
30
Independent Board Members
30
Employees
354
Volunteers
250

Preparer

Firm
Blum Shapiro & Company Pc
Address
TWO INTERNATIONAL PLACE 22ND FLOOR, BOSTON, MA 02110
Preparer
Laura J Kenney
Phone
6177170831
Supplemental Narrative

Additional Explanations

Reason for Amended Return

Dexter southfield is amending form 990 to properly reflect the payout of the non-qualified deferred compensation plan to the head of school and the assistant head of school when the plan terminated and was paid out in september of 2018.

Financial Statement Notes

PART III, LINE 4:

The school holds two portraits for display at the school. Beyond this artwork displayed in the hallways, the school gallery provides dedicated space to elevate student artwork.

PART V, LINE 4:

Dexter southfield draws up to 3.5% annually from the endowment to support operations.

PART X, LINE 2:

The school is exempt from federal income taxes under section 501 (c)(3) of the internal revenue code and is exempt from state income taxes under chapter 180 of the massachusetts general laws. Unrelated business income is subject to federal and state income taxes. The school evaluates tax positions taken, or expected to be taken, in its tax returns to determine whether tax positions are more-likely-than-not of being sustained by the applicable federal or state authority. The school has evaluated the tax positions taken in its previously filed returns and those expected to be taken in the current year and believe they are more-likely-than-not of being sustained if examined by federal or state authorities. In addition, the school qualifies for the charitable deduction under section 170(b)(1)(a) and has been classified as other than a private foundation under section 509(a)(2).

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Financial aid expense 11,140,545.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid expense 11,140,545.

Raw XML AppendixShowing 400 of 1,130 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0DEXTER SOUTHFIELD SCHOOL HELPS BOYS AND GIRLS DEVELOP THEIR INDIVIDUALTALENTS AND BUILD AN ETHICAL FOUNDATION FOR LIFE. STUDENTS LEARN TO LEAD WITH CONFIDENCE, SERVE WITH COMPASSION, AND LIVE BY THE MOTTO, "OUR BEST TODAY, BETTER TOMORROW."
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IRS990/Desc0THE SCHOOL PROVIDES ELEMENTARY AND SECONDARY COLLEGE PREPARATORY EDUCATION TO BOYS AND GIRLS IN GRADES PRE-KINDERGARTEN THROUGH 12.
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IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE A/O 4/18/19
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE A/O 4/18/19
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE A/O 4/18/19
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE A/O 4/8/19
IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE A/O 5/17/19
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE A/O 4/18/19

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$185$56.9$128$85.0$64.9$20.2
2024Detailed filing. Detailed filing data is available for this year.$169$58.6$110$72.8$61.0$11.8
2023Detailed filing. Detailed filing data is available for this year.$143$53.8$89.5$68.0$56.7$11.3
2022Detailed filing. Detailed filing data is available for this year.$119$45.9$73.3$60.2$53.8$6.39
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$119$45.6$73.6$58.4$49.8$8.65
2020Detailed filing. Detailed filing data is available for this year.$106$51.1$55.3$49.4$46.2$3.20
2019Detailed filing. Detailed filing data is available for this year.$96.4$43.3$53.1$56.7$45.2$11.5
2018Detailed filing. Detailed filing data is available for this year.$88.8$47.4$41.4$44.1$42.1$2.01
2017Detailed filing. Detailed filing data is available for this year.$79.7$41.5$38.1$47.7$38.8$8.95
2016Detailed filing. Detailed filing data is available for this year.$67.9$42.4$25.5$38.5$34.7$3.83
2015Detailed filing. Detailed filing data is available for this year.$67.4$42.6$24.9$36.1$32.8$3.29
2014Summary only. Only limited summary data is available for this year.$69.0$44.6$24.5$33.2$32.6$0.63
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$66.9$43.5$23.4$32.5$28.3$4.24
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$64.1$42.2$21.9$27.6
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$67.6$42.2$25.5$29.4