Civic Intelligence

Morristown-Beard School

990 • Fiscal year 2014 • EIN 22-1487252

Jul 01, 2013 to Jun 30, 2014 • Filed on Apr 10, 2015

Organization Profilewww.mobeard.org

View Organization Page

70 Whippany Road07960

(973) 539-3032

Siviq Scores

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

Liabilities / Assets

34th percentile

0.17x

Higher debt load relative to assets than 34% of similar nonprofits.

2014 filings • NTEE B • $50M-$100M nonprofits • Source year 2014

Liabilities / Revenue

38th percentile

0.40x

Higher debt load relative to revenue than 38% of similar nonprofits.

2014 filings • NTEE B • $50M-$100M nonprofits • Source year 2014

Net Margin

25th percentile

-1.0%

Higher net margin than 25% of similar nonprofits.

2014 filings • NTEE B • $50M-$100M nonprofits • Source year 2014

Top Officer Pay

62nd percentile

$399,353

Higher top officer pay than 62% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Asset Growth

42nd percentile

3.8%

Faster asset growth than 42% of similar nonprofits.

2014 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2013 to 2014

Revenue Growth

40th percentile

2.0%

Faster revenue growth than 40% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2011 to 2014

Balance Sheet
Liabilities / Assets34th percentile

Assets

Up

$56,227,605

Up $2,081,825 (+3.8%) from 2013

Net Assets

Up

$46,785,755

Up $1,620,777 (+3.6%) from 2013

Liabilities

Up

$9,441,850

Up $461,048 (+5.1%) from 2013

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin25th percentile

Revenue

$23,388,794

No earlier filing loaded for comparison.

Expenses

Up

$23,631,213

Up $1,400,146 (+6.3%) from 2013

Net Income

-$242,419

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth42nd percentile

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

$80M$60M$40M$20M$0Assets 2010: $52,968,614Liabilities 2010: $12,261,646Net Assets 2010: $40,706,9682010Assets 2011: $52,748,250Liabilities 2011: $9,019,303Net Assets 2011: $43,728,9472011Assets 2012: $52,827,954Liabilities 2012: $9,685,056Net Assets 2012: $43,142,8982012Assets 2013: $54,145,780Liabilities 2013: $8,980,802Net Assets 2013: $45,164,9782013Assets 2014: $56,227,605Liabilities 2014: $9,441,850Net Assets 2014: $46,785,7552014Assets 2015: $59,310,075Liabilities 2015: $7,773,311Net Assets 2015: $51,536,7642015Assets 2016: $61,450,031Liabilities 2016: $8,152,486Net Assets 2016: $53,297,5452016Assets 2017: $67,546,643Liabilities 2017: $11,025,634Net Assets 2017: $56,521,0092017Assets 2018: $68,327,621Liabilities 2018: $10,185,701Net Assets 2018: $58,141,9202018Assets 2019: $72,886,502Liabilities 2019: $11,965,163Net Assets 2019: $60,921,3392019Assets 2020: $71,594,413Liabilities 2020: $10,465,599Net Assets 2020: $61,128,8142020Assets 2021: $74,759,879Liabilities 2021: $6,750,599Net Assets 2021: $68,009,2802021Assets 2022: $71,175,267Liabilities 2022: $6,113,537Net Assets 2022: $65,061,7302022Assets 2023: $73,085,809Liabilities 2023: $5,416,796Net Assets 2023: $67,669,0132023Assets 2024: $76,540,014Liabilities 2024: $6,843,481Net Assets 2024: $69,696,5332024

Highlighted filing

2014

Assets$56,227,605
Liabilities$9,441,850
Net Assets$46,785,755
Open 2014 Filing

Operations Trend

Revenue Growth40th percentile

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

$40M$30M$20M$10M$0-$10MExpenses 2010: $20,256,8772010Revenue 2011: $22,030,891Expenses 2011: $20,714,384Net Income 2011: $1,316,5072011Expenses 2012: $21,523,1822012Expenses 2013: $22,231,0672013Revenue 2014: $23,388,794Expenses 2014: $23,631,213Net Income 2014: -$242,4192014Revenue 2015: $30,195,083Expenses 2015: $25,561,861Net Income 2015: $4,633,2222015Revenue 2016: $28,875,690Expenses 2016: $26,364,581Net Income 2016: $2,511,1092016Revenue 2017: $28,588,966Expenses 2017: $26,735,324Net Income 2017: $1,853,6422017Revenue 2018: $28,403,014Expenses 2018: $27,537,249Net Income 2018: $865,7652018Revenue 2019: $32,033,926Expenses 2019: $29,546,969Net Income 2019: $2,486,9572019Revenue 2020: $29,916,997Expenses 2020: $29,833,282Net Income 2020: $83,7152020Revenue 2021: $32,953,028Expenses 2021: $30,613,612Net Income 2021: $2,339,4162021Revenue 2022: $35,071,625Expenses 2022: $32,531,347Net Income 2022: $2,540,2782022Revenue 2023: $34,984,658Expenses 2023: $34,022,511Net Income 2023: $962,1472023Revenue 2024: $34,693,681Expenses 2024: $35,671,137Net Income 2024: -$977,4562024

Highlighted filing

2014

Revenue$23,388,794
Expenses$23,631,213
Net Income-$242,419
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Apr 10, 2015
Return Version
2013v4.0
Gross Receipts
$23,877,530
Mission and Program Overview

Mission

Morristown-Beard School is an educational college preparatory school in Grades 6 to 12 located in Morristown, New Jersey.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$36,470,564$36,478,620▲ $8,056
Investments in Publicly Traded Securities$11,163,812$13,032,431▲ $1,868,619
Cash and Non-Interest-Bearing Accounts$2,500,677$3,674,390▲ $1,173,713
Savings and Temporary Cash Investments$1,323,348$940,052▼ $383,296
Pledges and Grants Receivable$1,202,195$468,110▼ $734,085
Inventories for Sale or Use$140,333$146,211▲ $5,878
Accounts Receivable$188,488$122,294▼ $66,194
Receivables From Officers Etc$100,000$84,222▼ $15,778
Total Assets$54,145,780$56,227,605▲ $2,081,825
Other Assets Total$1,056,363$1,281,275▲ $224,912
Liabilities
Deferred Revenue$4,813,480$5,525,705▲ $712,225
Unsecured Notes Loans Payable$2,961,594$2,507,626▼ $453,968
Accounts Payable and Accrued Expenses$1,205,728$1,408,519▲ $202,791
Total Liabilities$8,980,802$9,441,850▲ $461,048
Net Assets / Fund Balance
Unrestricted Net Assets$32,374,563$33,369,037▲ $994,474
Permanently Rstr Net Assets$6,800,333$6,808,890▲ $8,557
Temporarily Rstr Net Assets$5,990,082$6,607,828▲ $617,746
Total Net Assets Fund Balance$45,164,978$46,785,755▲ $1,620,777
Total Liabilities and Net Assets / Fund Balance$54,145,780$56,227,605▲ $2,081,825

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$32,470,832$16,402,716$48,873,548
Other Land Buildings$3,910,283$1,564,842$5,475,125
Equipment$97,505$1,748,870$1,846,375

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$11,130,095$8,557▲ $2,199,146$22,909$13,023,971
2012$9,848,248$16,765▲ $1,575,232$37,260$11,130,095
2011$10,198,638$12,934▼ $92,845$5,809$9,848,248
2010$8,632,864$8,779▲ $1,853,996-$10,198,638
2009$7,814,869$130,083▲ $974,610$26,839$8,632,864
Compensation and Service Providers
Top Officer Pay62nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Peter CaldwellHeadmasterFT$368,188$31,165$399,353
Peter Caldwell--$310,688$88,665$399,353
John MascaroDean of FacultyFT$175,745$25,419$201,164
John Mascaro--$175,745$25,419$201,164
Darren BurnsUpper School HeadFT$154,940$35,793$190,733
Darren Burns--$154,940$35,793$190,733
Bruce AdamsBusiness ManagerFT$147,492$34,350$181,842
Bruce Adams--$147,492$34,350$181,842
Edward FranzGuidanceFT$121,213$29,587$150,800
Edward Franz--$121,213$29,587$150,800
Paul FisherTechnology/Science TeacherFT$112,106$13,606$125,712
Elizabeth PattersonDirector of AdvancementFT$101,350$24,168$125,518
Boni LunaMiddle School HeadFT$110,782$13,624$124,406
Robert MitchellDirector of AdmissionsFT$80,740$25,583$106,323

Board Members and Trustees

NameTitle
Michael RangerPresident
John EganVice President
Paolo CucchiVice President
Allan P Kirby JrHonorary Trustee
David V H HedleyHonorary Trustee
Mary-ellen CampbellHonorary Trustee
Abbie Shine GiordanoTrustee
David FerryTrustee
David GatelyTrustee
Gail KurzTrustee
Jeffrey GronningTrustee
John FayTrustee
Shane ConnellTrustee
Wilfredo FernandezTrustee
Judy TaggartSecretary
Thompson D Grant JrTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Burton F Clark IncTurf Field-$1,244,840
Flik Dining ServicesDining Service-$599,471
Eastern Essential ServicePest Control Protection-$334,517
World Class StaffigDining Staffing-$265,004
Durham School ServicesBus Services-$145,579
Revenue and Support

Revenue Composition

Contributions and Grants
$863,310
Program Service Revenue
$21,017,248
Investment Income
$356,893
Other Revenue
$1,151,343
All Other Contributions
$669,183
Change in Net Assets
$-242,419

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported Amount
Securities Publicly Traded4$171,726
Total Noncash Contributions4$171,726

Audited Revenue Reconciliation

Revenue per Audited Statements
$21,038,578
Revenue Not Reported on Financial Statements
$2,350,216
Revenue Not Reported on Form 990
$2,157,805
Other Revenue Adjustments
$2,350,216
Total Revenue per Audited Statements
$23,196,383
Total Revenue per Form 990
$23,388,794
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$13,773,011
Other Expenses$7,507,986
Grants and Similar Amounts Paid$2,350,216
Total Fundraising Expense$665,793
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,318,092$2,875,970$481,074$10,675,136
Grants to Domestic Individuals$2,350,216--$2,350,216
Depreciation Depletion$1,575,326$0$0$1,575,326
Other Employee Benefits$1,105,333$382,128$81,092$1,568,553
Occupancy$1,129,464$28,945$0$1,158,409
Payroll Taxes$581,130$190,464$35,150$806,744
Pension Plan Contributions$502,243$196,935$23,400$722,578
Office Expenses$364,321$290,716$0$655,037
Insurance$0$345,511$0$345,511
Information Technology$9,324$331,476$0$340,800
Advertising$28,835$175,344$0$204,179
Fees for Services Other$66,169$28,843$45,077$140,089
All Other Expenses$73,250$65,575$0$138,825
Interest$0$94,614$0$94,614
Conferences and Meetings$75,531$15,817$0$91,348
Other Expenses$65,338$0$0$65,338
Fees for Services Accounting$0$31,500$0$31,500
Travel$0$21,901$0$21,901
Fees for Services Legal$0$18,349$0$18,349
Total Functional Expenses$17,558,969$5,406,451$665,793$23,631,213

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$23,631,213
Total Expenses per Audited Statements$21,575,606
Expenses per Audited Statements$21,280,997
Expenses Not Reported on Financial Statements$2,350,216
Other Expense Adjustments$2,350,216
Expenses Not Reported on Form 990$294,609
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$488,736
Fundraising Gross Income$488,736
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$177,321$113,469$113,469$0
Event 2$199,685$87,644$87,644$0
Total Events$488,736$294,609$294,609-
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$100,000$84,222▼ $15,778
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
A22-20158172007-11-08$14,500,000construction projects
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

EIN
22-1487252
Phone
9735393032

Signing Officer

Name
Bruce Adams
Title
Business Manager
Phone
9735393032
Signed
2015-04-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bruce Adams
Formed
1939
Legal Domicile
Nj
Voting Board Members
19
Independent Board Members
19
Employees
358
Volunteers
150

Preparer

Preparer
Robert J Butvilla
Phone
9087899300
Supplemental Narrative

Additional Explanations

Pt XI

“Audit Committee oversees the annual audit and audited financial statments.”

Pt VI, Line 11B

“The 990 is reviewed by the Headmaster, the Business Manager,”

Pt VI, Line 11B

“and the full Board of Trustees. The information in the 990”

Pt VI, Line 11B

“is largely drawn from the audited financial statements”

Pt VI, Line 11B

“which are reviewed by the Board.”

Pt VI, Line 12C

“Conflicts of Interest are reviewed by the Executive”

Pt VI, Line 12C

“Committee of the Board.”

Pt VI, Line 15A

“The Compensation Committee of the Board uses compensation”

Pt VI, Line 15A

“surveys to determine the salary for the Headmaster.”

Pt VI, Line 19

“Information is available upon request.”

Financial Statement Notes

Pt XI Line 2D

“Fundraising Expenses - $294,609”

Pt XII Line 2D

“Fundraising Expenses - $294,609”

Pt XI Line 4B

“Scholarships - $2,350,216”

Pt XII Line 4B

“Scholarships - $2,350,216”

Raw XML AppendixShowing 400 of 760 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/Form990PartVIISectionAGrp/TitleTxt1Dean of Faculty
IRS990/Form990PartVIISectionAGrp/TitleTxt2Upper School Head
IRS990/Form990PartVIISectionAGrp/TitleTxt3Business Manager
IRS990/Form990PartVIISectionAGrp/TitleTxt4Middle School Head
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director of Advancement
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director of Admissions
IRS990/Form990PartVIISectionAGrp/TitleTxt7Technology/Science Teacher
IRS990/Form990PartVIISectionAGrp/TitleTxt8Guidance
IRS990/Form990PartVIISectionAGrp/TitleTxt9President
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IRS990/Form990PartVIISectionAGrp/TitleTxt12Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt13Secretary
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Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$56,227,605
Liabilities
$9,441,850
Net assets
$46,785,755
Revenue
$23,388,794
Expenses
$23,631,213
Net income
-$242,419
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$76.5$6.84$69.7$34.7$35.7$0.98
2023Detailed filing. Detailed filing data is available for this year.$73.1$5.42$67.7$35.0$34.0$0.96
2022Detailed filing. Detailed filing data is available for this year.$71.2$6.11$65.1$35.1$32.5$2.54
2021Detailed filing. Detailed filing data is available for this year.$74.8$6.75$68.0$33.0$30.6$2.34
2020Detailed filing. Detailed filing data is available for this year.$71.6$10.5$61.1$29.9$29.8$0.08
2019Detailed filing. Detailed filing data is available for this year.$72.9$12.0$60.9$32.0$29.5$2.49
2018Detailed filing. Detailed filing data is available for this year.$68.3$10.2$58.1$28.4$27.5$0.87
2017Detailed filing. Detailed filing data is available for this year.$67.5$11.0$56.5$28.6$26.7$1.85
2016Detailed filing. Detailed filing data is available for this year.$61.5$8.15$53.3$28.9$26.4$2.51
2015Detailed filing. Detailed filing data is available for this year.$59.3$7.77$51.5$30.2$25.6$4.63
2014Detailed filing. Detailed filing data is available for this year.$56.2$9.44$46.8$23.4$23.6$0.24
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.1$8.98$45.2$22.2
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.8$9.69$43.1$21.5
2011Summary only. Only limited summary data is available for this year.$52.7$9.02$43.7$22.0$20.7$1.32
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$53.0$12.3$40.7$20.3