Civic Intelligence

Brooks School

990 • Fiscal year 2019 • EIN 04-2130844

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

Refreshing map…

1160 Great Pond RoadNorth Andover, MA 01845

(978) 725-6300

Siviq Scores

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

Liabilities / Assets

47th percentile

0.27x

Higher debt load relative to assets than 47% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Liabilities / Revenue

80th percentile

1.74x

Higher debt load relative to revenue than 80% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Net Margin

10th percentile

-17%

Higher net margin than 10% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Top Officer Pay

46th percentile

$444,662

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2019

Asset Growth

30th percentile

0.5%

Faster asset growth than 30% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Revenue Growth

18th percentile

-11%

Faster revenue growth than 18% of similar nonprofits.

2019 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Assets

Up

$190,357,707

Up $986,104 (+0.5%) from 2018

Net Assets

Down

$138,578,366

Down $2,779,241 (-2.0%) from 2018

Liabilities

Up

$51,779,341

Up $3,765,345 (+7.8%) from 2018

Revenue

Down

$29,772,441

Down $3,621,478 (-11%) from 2018

Expenses

Up

$34,908,206

Up $2,962,976 (+9.3%) from 2018

Net Income

Down

-$5,135,765

Down $6,584,454 (-455%) from 2018

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2011: $128,001,708Liabilities 2011: $33,288,471Net Assets 2011: $94,713,2372011Assets 2012: $126,636,483Liabilities 2012: $34,654,359Net Assets 2012: $91,982,1242012Assets 2013: $129,667,416Liabilities 2013: $32,521,310Net Assets 2013: $97,146,1062013Assets 2014: $145,293,558Liabilities 2014: $35,511,359Net Assets 2014: $109,782,1992014Assets 2015: $158,864,440Liabilities 2015: $41,443,355Net Assets 2015: $117,421,0852015Assets 2016: $160,224,534Liabilities 2016: $42,030,998Net Assets 2016: $118,193,5362016Assets 2017: $181,889,871Liabilities 2017: $44,962,951Net Assets 2017: $136,926,9202017Assets 2018: $189,371,603Liabilities 2018: $48,013,996Net Assets 2018: $141,357,6072018Assets 2019: $190,357,707Liabilities 2019: $51,779,341Net Assets 2019: $138,578,3662019Assets 2020: $182,132,307Liabilities 2020: $48,106,016Net Assets 2020: $134,026,2912020Assets 2021: $203,514,753Liabilities 2021: $49,231,832Net Assets 2021: $154,282,9212021Assets 2022: $196,716,400Liabilities 2022: $54,292,341Net Assets 2022: $142,424,0592022Assets 2023: $210,365,049Liabilities 2023: $52,050,813Net Assets 2023: $158,314,2362023Assets 2024: $218,172,626Liabilities 2024: $50,052,681Net Assets 2024: $168,119,9452024

Highlighted filing

2019

Assets$190,357,707
Liabilities$51,779,341
Net Assets$138,578,366

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2011: $25,423,1302011Expenses 2012: $25,784,5362012Revenue 2013: $24,700,722Expenses 2013: $26,471,865Net Income 2013: -$1,771,1432013Revenue 2014: $35,771,562Expenses 2014: $27,286,602Net Income 2014: $8,484,9602014Revenue 2015: $36,370,566Expenses 2015: $28,168,009Net Income 2015: $8,202,5572015Revenue 2016: $36,851,572Expenses 2016: $29,379,495Net Income 2016: $7,472,0772016Revenue 2017: $42,268,040Expenses 2017: $30,757,820Net Income 2017: $11,510,2202017Revenue 2018: $33,393,919Expenses 2018: $31,945,230Net Income 2018: $1,448,6892018Revenue 2019: $29,772,441Expenses 2019: $34,908,206Net Income 2019: -$5,135,7652019Revenue 2020: $32,879,398Expenses 2020: $33,131,412Net Income 2020: -$252,0142020Revenue 2021: $35,395,118Expenses 2021: $33,421,170Net Income 2021: $1,973,9482021Revenue 2022: $37,193,964Expenses 2022: $35,771,300Net Income 2022: $1,422,6642022Revenue 2023: $42,737,394Expenses 2023: $38,821,255Net Income 2023: $3,916,1392023Revenue 2024: $38,405,773Expenses 2024: $40,847,067Net Income 2024: -$2,441,2942024

Highlighted filing

2019

Revenue$29,772,441
Expenses$34,908,206
Net Income-$5,135,765
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Apr 29, 2020
Return Version
2018v3.1
Gross Receipts
$37,931,306
Mission and Program Overview

Mission

Brooks school is a college preparatory school that seeks to provide the most meaningful educational experience our students will have in their lives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$73,004,232$77,784,259▲ $4,780,027
Investments Other Securities$73,608,132$75,277,821▲ $1,669,689
Cash and Non-Interest-Bearing Accounts$15,219,312$13,963,535▼ $1,255,777
Pledges and Grants Receivable$13,899,168$9,062,033▼ $4,837,135
Other Notes and Loans Receivable, Net$7,462,689$8,100,702▲ $638,013
Investments in Publicly Traded Securities$2,876,344$2,491,117▼ $385,227
Prepaid Expenses and Deferred Charges$762,402$816,982▲ $54,580
Accounts Receivable$17,094$51,940▲ $34,846
Total Assets$189,371,603$190,357,707▲ $986,104
Other Assets Total$2,522,230$2,809,318▲ $287,088
Liabilities
Tax Exempt Bond Liabilities$20,548,994$19,996,885▼ $552,109
Deferred Revenue$17,168,910$17,794,619▲ $625,709
Mortgage Notes Payable Secured by Investment Property$5,903,889$11,711,888▲ $5,807,999
Accounts Payable and Accrued Expenses$3,199,067$1,168,222▼ $2,030,845
Other Liabilities$1,193,136$1,107,727▼ $85,409
Total Liabilities$48,013,996$51,779,341▲ $3,765,345
Net Assets / Fund Balance
Permanently Rstr Net Assets$78,076,897$73,447,449▼ $4,629,448
Unrestricted Net Assets$63,280,710$65,130,917▲ $1,850,207
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$141,357,607$138,578,366▼ $2,779,241
Total Liabilities and Net Assets / Fund Balance$189,371,603$190,357,707▲ $986,104

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$58,293,365$39,261,620$97,554,985
Leasehold Improvements$14,417,370$7,656,922$22,074,292
Equipment$2,046,806$7,532,745$9,579,551
Land$2,440,627-$2,440,627
Other Land Buildings$586,091-$586,091
Other Securities$172,382--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$80,638,598$1,024,542▲ $3,621,177$2,648,582$81,919,176
2017$76,915,046$2,052,226▲ $5,002,642$2,689,642$80,638,598
2016$70,450,966$556,146▲ $9,372,949$2,895,056$76,915,046
2015$74,799,439$1,178,352▼ $2,364,944$2,684,410$70,450,966
2014$74,615,928$633,115▲ $2,520,244$2,477,458$74,799,439
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John R Packard JrHead of SchoolFT$350,870$93,792$444,662
Paul GriffinChief Financial OfficerFT$215,561$44,720$260,281
Gage DobbinsDirector of DevelopmentFT$144,891$71,380$216,271
Lawrence CallahanDirector of Comm. & MarketingFT$124,642$68,007$192,649
John McveighDean of FacultyFT$108,620$67,637$176,257
Jo-ann BevisControllerFT$115,068$38,182$153,250
Ryan DobbinsDirector of Information TechnologyFT$109,706$13,140$122,846

Highest Paid Contractors

ContractorServicesLocationCompensation
Consigli Construction CoConstruction General Contractor72 SUMNER STREET, Milford, MA 01757$7,727,693
Meriwether GodseyFood Services4944 OLD BOONSBORO ROAD, Lynchburg, VA 24503$1,582,605
Channel Building CoConstruction355 MIDDLESEX AVE, Wilmington, MA 01887$555,491
Choate Hall & StewartLegal2 INTERNATIONAL PLACE, Boston, MA 02110$518,657
Compass Facilities ServicesJanitorial/custodial65 JACKMAN STREET, Georgetown, MA 01833$320,333
Revenue and Support

Revenue Composition

Contributions and Grants
$4,279,744
Program Service Revenue
$23,661,249
Investment Income
$1,761,474
Other Revenue
$69,974
All Other Contributions
$4,279,744
Change in Net Assets
$-5,135,765

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 Traded30$524,183Fair Market Value (FMV)
Total Noncash Contributions30$524,183-

Audited Revenue Reconciliation

Revenue per Audited Statements
$23,187,417
Revenue Not Reported on Financial Statements
$6,585,024
Revenue Not Reported on Form 990
$2,356,524
Other Revenue Adjustments
$5,868,465
Total Revenue per Audited Statements
$25,543,941
Total Revenue per Form 990
$29,772,441
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$14,858,575
Salaries, Compensation, and Employee Benefits$14,039,649
Grants and Similar Amounts Paid$6,009,982
Total Fundraising Expense$1,703,469
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,194,798$2,068,719$682,171$9,945,688
Grants to Domestic Individuals$6,009,982--$6,009,982
Depreciation Depletion$3,772,877$331,682$41,460$4,146,019
Other Employee Benefits$1,291,606$228,878$102,594$1,623,078
Occupancy$1,268,517$100,840$12,605$1,381,962
All Other Expenses$522,048$246,399$596,587$1,365,034
Interest-$1,189,158-$1,189,158
Pension Plan Contributions$678,187$272,343$76,877$1,027,407
Payroll Taxes$533,077$151,499$46,936$731,512
Fees for Services Legal-$717,499-$717,499
Fees for Service Investment Mgmnt Fees-$716,559-$716,559
Current Officers, Directors, Trustees, and Key Employees-$711,964-$711,964
Fees for Services Other$500,761$132,463$36,116$669,340
Insurance-$345,209-$345,209
Other Expenses$295,411$61,686$6,857$295,411
Information Technology$170,072$121,712$1,475$293,259
Advertising$4,806$172,717$70,412$247,935
Travel$47,344$43,558$24,610$115,512
Fees for Services Accounting-$86,700-$86,700
Conferences and Meetings$27,416$13,713$4,455$45,584
Total Functional Expenses$25,477,761$7,726,976$1,703,469$34,908,206

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$34,908,206
Expenses per Audited Statements$28,323,182
Total Expenses per Audited Statements$28,323,182
Expenses Not Reported on Financial Statements$6,585,024
Other Expense Adjustments$5,868,465
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$3,225,516

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments-00$3,225,516
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Splits Interest Agreement Obligation$1,036,151
Capital Lease Obligation- Solar Panel$71,576

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMassachusetts Development Finance Agency2011-10-01$24,115,000Construction, renovation of building and refunding of pre-2003 bond issues

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$24,115,000$23,476,464-$388,536

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
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
No
Management duties delegated
No

Governance Explanations

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

The audit committee reviews the full form 990 with the exception of schedule b and then recommends approval to the full board of trustees. The disclosures on schedule b are discussed with the audit committee by management but the form itself is not provided due to the sensitivity of donors' personal information.

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

In addition to the signed annual conflict of interest policy, prior to the start of discussion or negotiation of financial matters, trustees and employees are expected to make full disclosure of any dual interest in a proposed transaction. A trustee or employee with a dual interest in a proposed transaction shall not vote on the matter and depending on the circumstances, may be excluded from any discussion of the matter. The business office regularly monitors its contracts and cash disbursements to determine if there is an actual or potential conflict of interest with any person covered by the conflict of interest policy.

Form 990, Part VI, Section B, Line 15

Compensation for the head of school is approved by the board of trustees. Other key employees are determined by the head of school, john packard.

Form 990, Part VI, Section C, Line 19

Governing documents and the conflict of interest policy are made available to the public upon request. Form 990 is published on the guidestar website and is accessible to the public. Audited financial statements are available upon request and the massachusetts attorney general website.

Filing and Contact Details

Filer

Filer Name
Brooks School
EIN
04-2130844
Phone
9787256300
Address
1160 GREAT POND ROAD, NORTH ANDOVER, MA 01845

Signing Officer

Name
Paul Griffin
Title
Chief Financial Officer
Phone
9787256300
Signed
2020-04-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Packard
Formed
1926
Legal Domicile
Ma
Voting Board Members
27
Independent Board Members
26
Employees
364
Volunteers
100

Preparer

Firm
Cbiz Mhm LLC
Address
500 BOYLSTON STREET, BOSTON, MA 02116
Preparer
Brenda L Booth
Phone
6177610600
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in split-interest agreement 4,626. Change in cash surrender value of life insurance 6,108.

Financial Statement Notes

PART III, LINE 1A:

The school does not recognize or capitalize works of art, historical treasures and similar assets held as part of a collection for education, research or exhibition purposes rather than for sale or financial gain.

PART III, LINE 4:

Collections of photographs by various artsts (ie. Ernest withers and bill ferris) and various paintings (most notably a collection of paintings by andy warhol) are co-owned by brooks school and williams college. Part of the school's educational programs include the study of these artists.

PART V, LINE 4:

The intended use of the school's endowment funds are for educational and special programs, financial aid, plant maintenance and general purposes.

PART X, LINE 2:

In accordance with section 501(c)(3) of the internal revenue code, the school is generally exempt from federal and state income taxes on related income. However, the school does incur federal and state income tax on unrelated business income. In determining the recognition of uncertain tax positions, the school applies a more-likely-than-not recognition threshold and determines the measurement of uncertain tax positions considering the amounts and probabilities of the outcomes that could be realized upon ultimate settlement with taxing authorities. As of june 30, 2019, the school has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. The school is generally subject to examination by taxing jurisdictions for the prior three years.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in split-interest agreement 4,626. Change in cash surrender value of life insurance 6,108.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Financial aid and scholarships 6,009,982. Cost of goods sold -141,517.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Financial aid and scholarships 6,009,982. Cost of goods sold -141,517.

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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/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt23TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt24TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt25TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt27CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt28DEAN OF FACULTY
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR OF DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt30DIRECTOR OF COMM. & MARKETING
IRS990/Form990PartVIISectionAGrp/TitleTxt31DIRECTOR OF INFORMATION TECHNOLOGY
IRS990/Form990PartVIISectionAGrp/TitleTxt32CONTROLLER
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$218$50.1$168$38.4$40.8$2.44
2023Detailed filing. Detailed filing data is available for this year.$210$52.1$158$42.7$38.8$3.92
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$197$54.3$142$37.2$35.8$1.42
2021Detailed filing. Detailed filing data is available for this year.$204$49.2$154$35.4$33.4$1.97
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$182$48.1$134$32.9$33.1$0.25
2019Detailed filing. Detailed filing data is available for this year.$190$51.8$139$29.8$34.9$5.14
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$189$48.0$141$33.4$31.9$1.45
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$182$45.0$137$42.3$30.8$11.5
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$160$42.0$118$36.9$29.4$7.47
2015Detailed filing. Detailed filing data is available for this year.$159$41.4$117$36.4$28.2$8.20
2014Detailed filing. Detailed filing data is available for this year.$145$35.5$110$35.8$27.3$8.48
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$130$32.5$97.1$24.7$26.5$1.77
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$127$34.7$92.0$25.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$128$33.3$94.7$25.4
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)3 • $100M-$250M nonprofits