Civic Intelligence

Belmont Day School Inc

EIN 04-2108347 • 501(c)3 • Belmont, MA

Profile

To inspire and challenge. (see schedule o for continuation.)

55 Day School LaneBelmont, MA 02478

belmontday.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

66th percentile

0.42x

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

501(c)3 • $50M-$100M nonprofits • Source year 2025

Liabilities / Revenue

77th percentile

1.12x

Higher debt load relative to revenue than 77% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Net Margin

66th percentile

12%

Higher net margin than 66% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Source year 2025

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

58th percentile

8.2%

Faster asset growth than 58% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Revenue Growth

72nd percentile

18%

Faster revenue growth than 72% of similar nonprofits.

501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Assets

Up

$61,918,417

Up $4,691,143 (+8.2%) from 2024

Liabilities

Up

$26,158,412

Up $280,700 (+1.1%) from 2024

Net Assets

Up

$35,760,005

Up $4,410,443 (+14%) from 2024

Revenue

Up

$23,424,787

Up $3,559,544 (+18%) from 2024

Expenses

Up

$20,664,701

Up $1,172,328 (+6.0%) from 2024

Net Income

Up

$2,760,086

Up $2,387,216 (+640%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$80M$60M$40M$20M$0Assets 2011: $32,633,727Liabilities 2011: $15,588,772Net Assets 2011: $17,044,9552011Assets 2012: $31,506,992Liabilities 2012: $14,981,098Net Assets 2012: $16,525,8942012Assets 2013: $32,469,122Liabilities 2013: $14,532,430Net Assets 2013: $17,936,6922013Assets 2014: $34,547,776Liabilities 2014: $14,788,848Net Assets 2014: $19,758,9282014Assets 2015: $35,836,357Liabilities 2015: $14,353,146Net Assets 2015: $21,483,2112015Assets 2016: $36,024,525Liabilities 2016: $14,195,934Net Assets 2016: $21,828,5912016Assets 2017: $39,403,067Liabilities 2017: $14,262,227Net Assets 2017: $25,140,8402017Assets 2018: $43,358,142Liabilities 2018: $15,689,329Net Assets 2018: $27,668,8132018Assets 2019: $48,029,365Liabilities 2019: $20,103,925Net Assets 2019: $27,925,4402019Assets 2020: $46,733,277Liabilities 2020: $18,006,493Net Assets 2020: $28,726,7842020Assets 2021: $53,894,213Liabilities 2021: $23,437,227Net Assets 2021: $30,456,9862021Assets 2022: $53,871,739Liabilities 2022: $25,212,340Net Assets 2022: $28,659,3992022Assets 2023: $55,318,139Liabilities 2023: $25,449,924Net Assets 2023: $29,868,2152023Assets 2024: $57,227,274Liabilities 2024: $25,877,712Net Assets 2024: $31,349,5622024Assets 2025: $61,918,417Liabilities 2025: $26,158,412Net Assets 2025: $35,760,0052025

Highlighted filing

2025

Assets$61,918,417
Liabilities$26,158,412
Net Assets$35,760,005

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0-$10MExpenses 2011: $9,747,3142011Expenses 2012: $9,827,2552012Revenue 2013: $10,344,472Expenses 2013: $10,081,033Net Income 2013: $263,4392013Revenue 2014: $10,442,675Expenses 2014: $10,293,030Net Income 2014: $149,6452014Revenue 2015: $12,613,207Expenses 2015: $10,729,900Net Income 2015: $1,883,3072015Revenue 2016: $12,474,817Expenses 2016: $11,524,483Net Income 2016: $950,3342016Revenue 2017: $14,321,875Expenses 2017: $11,942,442Net Income 2017: $2,379,4332017Revenue 2018: $14,275,355Expenses 2018: $12,010,453Net Income 2018: $2,264,9022018Revenue 2019: $13,582,439Expenses 2019: $13,815,235Net Income 2019: -$232,7962019Revenue 2020: $15,709,701Expenses 2020: $14,885,841Net Income 2020: $823,8602020Revenue 2021: $15,099,319Expenses 2021: $15,962,996Net Income 2021: -$863,6772021Revenue 2022: $17,214,948Expenses 2022: $16,639,157Net Income 2022: $575,7912022Revenue 2023: $17,961,817Expenses 2023: $18,131,431Net Income 2023: -$169,6142023Revenue 2024: $19,865,243Expenses 2024: $19,492,373Net Income 2024: $372,8702024Revenue 2025: $23,424,787Expenses 2025: $20,664,701Net Income 2025: $2,760,0862025

Highlighted filing

2025

Revenue$23,424,787
Expenses$20,664,701
Net Income$2,760,086

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$61.9$26.2$35.8$23.4$20.7$2.76
2024Detailed filing. Detailed filing data is available for this year.$57.2$25.9$31.3$19.9$19.5$0.37
2023Detailed filing. Detailed filing data is available for this year.$55.3$25.4$29.9$18.0$18.1$0.17
2022Detailed filing. Detailed filing data is available for this year.$53.9$25.2$28.7$17.2$16.6$0.58
2021Detailed filing. Detailed filing data is available for this year.$53.9$23.4$30.5$15.1$16.0$0.86
2020Detailed filing. Detailed filing data is available for this year.$46.7$18.0$28.7$15.7$14.9$0.82
2019Detailed filing. Detailed filing data is available for this year.$48.0$20.1$27.9$13.6$13.8$0.23
2018Detailed filing. Detailed filing data is available for this year.$43.4$15.7$27.7$14.3$12.0$2.26
2017Detailed filing. Detailed filing data is available for this year.$39.4$14.3$25.1$14.3$11.9$2.38
2016Detailed filing. Detailed filing data is available for this year.$36.0$14.2$21.8$12.5$11.5$0.95
2015Detailed filing. Detailed filing data is available for this year.$35.8$14.4$21.5$12.6$10.7$1.88
2014Detailed filing. Detailed filing data is available for this year.$34.5$14.8$19.8$10.4$10.3$0.15
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$32.5$14.5$17.9$10.3$10.1$0.26
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.5$15.0$16.5$9.83
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$32.6$15.6$17.0$9.75
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Oct 31, 2025
Return Version
2024v5.2
Gross Receipts
$23,600,640
Mission and Program Overview

Mission

To inspire and challenge. (see schedule o for continuation.)

See schedule o for organization's mission statement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$25,935,715$24,932,868▼ $1,002,847
Investments in Publicly Traded Securities$16,773,002$18,872,758▲ $2,099,756
Accounts Receivable$10,489,669$10,831,880▲ $342,211
Cash and Non-Interest-Bearing Accounts$2,251,531$3,447,465▲ $1,195,934
Savings and Temporary Cash Investments$965,706$1,947,371▲ $981,665
Pledges and Grants Receivable$263,718$1,273,546▲ $1,009,828
Prepaid Expenses and Deferred Charges$547,933$612,529▲ $64,596
Total Assets$57,227,274$61,918,417▲ $4,691,143
Liabilities
Deferred Revenue$15,592,779$16,032,397▲ $439,618
Tax Exempt Bond Liabilities$9,007,687$8,713,841▼ $293,846
Accounts Payable and Accrued Expenses$1,277,246$1,412,174▲ $134,928
Total Liabilities$25,877,712$26,158,412▲ $280,700
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$24,192,633$25,557,277▲ $1,364,644
Net Assets With Donor Restrictions$7,156,929$10,202,728▲ $3,045,799
Total Net Assets Fund Balance$31,349,562$35,760,005▲ $4,410,443
Total Liabilities and Net Assets / Fund Balance$57,227,274$61,918,417▲ $4,691,143

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$21,109,199$14,312,777$35,421,976
Other Land Buildings$745,484$2,348,243$3,093,727
Equipment$437,198$2,283,797$2,720,995
Land$2,640,987-$2,640,987

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$15,191,169$1,571,645▲ $1,980,295$573,513$18,154,364
2023$13,502,705$644,873▲ $1,686,464$625,447$15,191,169
2022$10,808,288$576,048▲ $2,691,393$556,558$13,502,705
2021$14,358,653$684,777▼ $1,757,865$2,446,559$10,808,288
2020$16,362,749$707,771▲ $3,433,404$6,117,888$14,358,653
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brendan LargayHead of SchoolFT$410,895$19,378$430,273
Sarah BarrowBusiness ManagerFT$144,949$61,863$206,812
Elizabeth ParfitDirector of Admissions & AdvancementFT$166,365$33,453$199,818
Elizabeth GrayMiddle School HeadFT$131,483$31,845$163,328
Annie FuerstDirector of InnovationFT$153,489$9,146$162,635
Anderson SantosDirector of OperationsFT$123,468$31,288$154,756
Koreen McquiltonDirector of CommunicationsFT$121,716$18,014$139,730
Hilary BerkmanCFO A/o 8/26/24FT$80,551$4,188$84,739
Alex MinTrustee-$930-$930

Highest Paid Contractors

ContractorServicesLocationCompensation
Sysco Boston LLCFood Distribution Services99 SPRING STREET, Plympton, MA 02367-1701$199,737
Compass Facility ServicesCleaning Services65 JACKMAN STREET, Georgetown, MA 01833$192,178
Doherty's Garage INCStudent Transportation161 LINCOLN ROAD, Lincoln, MA 01773-3815$118,435
Debonair Limousine LLCStudent Transportation30 FRANKLIN STREET, Reading, MA 01867-1117$101,125
Revenue and Support

Revenue Composition

Contributions and Grants
$3,580,030
Program Service Revenue
$19,064,719
Investment Income
$606,429
Other Revenue
$173,609
All Other Contributions
$3,326,879
Change in Net Assets
$2,760,086

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 Traded6$240,807Fair Market Value (FMV)
Other Non Cash Contri Table89$52,618Fair Market Value (FMV)
Other Non Cash Contri Table14$640Fair Market Value (FMV)
Works of Art1$30Fair Market Value (FMV)
Total Noncash Contributions110$294,095-

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,524,367
Revenue Not Reported on Financial Statements
$2,900,420
Revenue Not Reported on Form 990
$1,650,357
Other Revenue Adjustments
$2,859,811
Total Revenue per Audited Statements
$22,174,724
Total Revenue per Form 990
$23,424,787
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$12,264,462
Other Expenses$5,364,963
Grants and Similar Amounts Paid$2,942,208
Total Fundraising Expense$731,713
Professional Fundraising Fees$93,068

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,745,630$1,158,234$304,235$9,208,099
Grants to Domestic Individuals$2,842,208--$2,842,208
Depreciation Depletion$1,255,407$41,508$3,909$1,300,824
Other Employee Benefits$837,376$81,020$38,499$956,895
Office Expenses$667,620$191,375$79,184$938,179
Current Officers, Directors, Trustees, and Key Employees$224,434$602,736$98,055$925,225
Occupancy$806,308$25,906$2,440$834,654
Payroll Taxes$619,418$117,502$30,699$767,619
Pension Plan Contributions$334,819$56,479$15,326$406,624
Interest$220,465$7,289$687$228,441
Travel$221,098--$221,098
Insurance$3,383$209,387-$212,770
Information Technology$166,970$5,224$15,379$187,573
Advertising$75,597$87,684$8,242$171,523
Fees for Services Other$15,568$118,761-$134,329
Conferences and Meetings$105,788$16,596-$122,384
All Other Expenses$44,594$21,290$41,990$107,874
Grants to Domestic Orgs$100,000--$100,000
Other Expenses$93,643$107,858-$93,643
Fees for Services Professional Fundraising--$93,068$93,068
Fees for Services Legal-$86,731-$86,731
Fees for Services Accounting-$62,925-$62,925
Fees for Service Investment Mgmnt Fees-$40,609-$40,609
Total Functional Expenses$16,732,182$3,200,806$731,713$20,664,701

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$20,664,701
Expenses per Audited Statements$17,764,281
Total Expenses per Audited Statements$17,764,281
Expenses Not Reported on Financial Statements$2,900,420
Other Expense Adjustments$2,859,811
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Town of BelmontBelmont, MAGovernmentGeneral Support$100,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$144,089
Professional Fundraising Fees$93,068
Fundraising Gross Income$68,837

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Auction$321,988$68,837$60,412$8,425
Total Events$321,988$68,837$144,089$-75,252
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMassachusetts Development Finance Agency2017-04-13$15,500,000To pay off 2012 bonds and help fund construction of new school building

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$15,500,000$8,449,959$6,672,506-

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
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 35% controlled entity
No
Business relationship with family members
No
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1A

The executive committee shall consist of the president, vice president, treasurer and head of school. During the intervals between meetings of the board of trustees, the executive committee shall have and exercise all powers of the board of trustees in the management and direction of the business and affairs of the corporation in all cases in which specific directions have not been given by the board of trustees; provided, that, (i) the executive committee shall exercise these powers only when, in the opinion of the president, it is not appropriate or practical under the circumstances to call a special meeting of the board of trustees or to defer action until the next regularly scheduled meeting of the board of trustees and (ii) when the executive committee exercises these powers, it shall provide written notice of the action taken to the board of trustees within forty-eight (48) hours of taking any such action.

Form 990, Part VI, Section A, Line 6

The school's members consist of parents, step-parents and legally appointed guardians of students at the school, elected trustees who are not otherwise members and certain other persons as defined in the school's by-laws.

Form 990, Part VI, Section A, Line 7A

The members (see schedule o response to form 990, part vi, section a, line 6) can elect, remove and suspend trustees.

Form 990, Part VI, Section A, Line 7B

The members must approve any changes that are made to the organization's by-laws.

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

The form 990 and all required schedules were reviewed completely by the audit committee of the board, the cfo, and the head of school prior to its filing. The final form 990 was filed in the office of the cfo subsequent to its filing with the irs and is available for all members of the board of trustees to review.

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

The school's conflict of interest policy specifically covers all members of the board of trustees. The board also requires the cfo to be covered by the policy. On an annual basis these individuals must review the policy and disclose any potential conflicts. In addition, the executive committee of the board of trustees, the committee on trustees, the finance committee, and the board of trustees as a whole review every substantive transaction that might give rise to a real or perceived conflict in accordance with the conflict of interest policy. If a conflict is determined to exist, at any board meeting in which a proposed transaction or decision involving a conflict is considered, the individual with a personal interest shall make a full statement of facts regarding the matter and the scope of his or her interest, which disclosure shall be made in the minutes of the meeting. The individual shall then recuse himself or herself from the board's deliberations and voting on the proposed transaction or decision.

Form 990, Part VI, Section B, Line 15

To determine compensation for the head of school, and cfo, the school follows the guidelines for the rebuttable presumption of reasonableness as set forth in the general instructions of the form 990. These guidelines were most recently followed to establish the compensation for the head of school and the cfo for fiscal 2025.

Form 990, Part VI, Section C, Line 19

The governing documents, conflict of interest policy, and our audited financial statements are available in the office of the cfo.

Filing and Contact Details

Filer

Filer Name
Belmont Day School Inc
EIN
04-2108347
Phone
6174843078
Address
55 DAY SCHOOL LANE, BELMONT, MA 02478

Signing Officer

Name
Brendan Largay
Title
Head of School
Phone
6174843078
Signed
2025-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brendan Largay
Formed
1927
Legal Domicile
Ma
Voting Board Members
19
Independent Board Members
17
Employees
341
Volunteers
75

Preparer

Firm
Cliftonlarsonallen Llp
Address
4 BATTERYMARCH PARK SUITE 100, QUINCY, MA 02169
Preparer
Shannon Crowley
Phone
7819821001
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1 ORGANIZATION'S MISSION:

Inspire and challenge. At belmont day school, we foster intellectual curiosity, honor differences, and empower meaningful contribution with excellence, respect, honesty, responsibility, caring, and joy.

FORM 990, PART III, LINE 1 CONTINUED:

Belmont day school was founded in 1927 by a group of parents committed to providing children with a strong academic foundation and many opportunities for creative expression. Today, as then, the school's program guides and challenges the intellectual, social, emotional, moral, artistic, and physical growth of each child. Belmont day school strives to be a diverse community dedicated to academic excellence and intellectual discipline where students feel secure, experience the joys of learning, and know their accomplishments are valued. At belmont day school we view education as a process by which children become self-motivated, life-long learners who take responsibility for themselves, each other and the world around them. The curriculum is dynamic and rigorous and reflects an understanding of the many ways children develop and learn. In every grade, new concepts are introduced, reinforced and mastered through a range of concrete experiences and opportunities that develop abstract reasoning. Teachers guide and instruct students individually and in small groups while providing time for students to learn from one another. The faculty pursues ongoing professional development, and regularly evaluates curriculum in light of the best educational theory and practice. The school and all its members commit to and practice six core values: respect, honesty, responsibility, caring, joy and excellence. Faculty, students, parents and administrators integrate these values into curricular choices, working relationships, community service and all other aspects of school life. It is this vision of education that guides the school now and has characterized the school since its founding. Belmont day's six core values-respect, honesty, responsibility, caring, joy, and excellence-are integral to academic quality, creativity, fitness, and health. Even the youngest children quickly become aware of the school's values and expectations. And soon enough, they begin to cherish and promote these ideals. Spend some time at belmont day school, and you will witness our six core values, alive and active, informing everything we do.

FORM 990, PART XI, LINE 9:

Change in charitable lead trust 10,477.

Financial Statement Notes

PART II, LINE 9:

The school purchased clafin field on march 28, 2001, which is subject to a conservation restriction requiring that it be preserved. This parcel is included in property and equipment on the statement of financial position and the school's management and buildings and grounds staff is aware of the preservation requirement and ensures it is followed. The land is adjacent to the school grounds and has been used as a playing field for physical education and athletic programs.

PART V, LINE 4:

The school's endowment includes both donor and board-restricted funds. These amounts are held in various investment vehicles so that the related income can be used to provide financial aid to families and to fund various programs.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in charitable lead trust 10,477.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Financial aid 2,842,208. Write off, non-operating 161,692. Fundraising expenses -144,089.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid 2,842,208. Write off, non-operating 161,692. Fundraising expenses -144,089.

Raw XML AppendixShowing 400 of 1,043 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/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt2DOHERTY'S GARAGE INC
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IRS990/Desc0WINTER SESSION - THE SCHOOL EDUCATES APPROXIMATELY 339 CHILDREN FROM PRE-KINDERGARTEN THROUGH THE EIGHTH GRADE. ITS CURRICULUM INCLUDES READING, WRITING, MATHEMATICS, SCIENCE, ART, MUSIC, FRENCH, LATIN, SPANISH, AND PHYSICAL EDUCATION.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY/CLERK
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19CFO A/O 8/26/24
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIR. OF ADMISSIONS & ADVANCEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt21BUSINESS MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR OF INNOVATION
IRS990/Form990PartVIISectionAGrp/TitleTxt23MIDDLE SCHOOL HEAD
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR OF OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR OF COMMUNICATIONS
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