Civic Intelligence

Morristown-Beard School

990 • Fiscal year 2015 • EIN 22-1487252

Jul 01, 2014 to Jun 30, 2015 • Filed on Mar 02, 2016

Organization Profilewww.mobeard.org

View Organization Page

70 Whippany RoadMorristown, NJ 07960

(973) 539-3032

Siviq Scores

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

Liabilities / Assets

31st percentile

0.13x

Higher debt load relative to assets than 31% of similar nonprofits.

2015 filings • NTEE B • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

24th percentile

0.26x

Higher debt load relative to revenue than 24% of similar nonprofits.

2015 filings • NTEE B • $50M-$100M nonprofits • Source year 2015

Net Margin

76th percentile

15%

Higher net margin than 76% of similar nonprofits.

2015 filings • NTEE B • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

73rd percentile

$449,174

Higher top officer pay than 73% of similar nonprofits.

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

2015 filings • NTEE B • $50M-$100M nonprofits • Source year 2015

Asset Growth

74th percentile

5.5%

Faster asset growth than 74% of similar nonprofits.

2015 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

87th percentile

29%

Faster revenue growth than 87% of similar nonprofits.

2015 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets31st percentile

Assets

Up

$59,310,075

Up $3,082,470 (+5.5%) from 2014

Net Assets

Up

$51,536,764

Up $4,751,009 (+10%) from 2014

Liabilities

Down

$7,773,311

Down $1,668,539 (-18%) from 2014

Revenue And Expenses
Liabilities / Revenue24th percentileNet Margin76th percentile

Revenue

Up

$30,195,083

Up $6,806,289 (+29%) from 2014

Expenses

Up

$25,561,861

Up $1,930,648 (+8.2%) from 2014

Net Income

Up

$4,633,222

Up $4,875,641 (+2011%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth74th 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

2015

Assets$59,310,075
Liabilities$7,773,311
Net Assets$51,536,764
Open 2015 Filing

Operations Trend

Revenue Growth87th 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

2015

Revenue$30,195,083
Expenses$25,561,861
Net Income$4,633,222
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Mar 2, 2016
Return Version
2014v6.0
Gross Receipts
$30,440,773
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$36,543,408$35,929,512▼ $613,896
Investments in Publicly Traded Securities$13,032,431$12,407,278▼ $625,153
Cash and Non-Interest-Bearing Accounts$3,674,390$5,899,713▲ $2,225,323
Pledges and Grants Receivable$468,110$2,857,414▲ $2,389,304
Savings and Temporary Cash Investments$940,052$1,046,668▲ $106,616
Accounts Receivable$206,516$176,566▼ $29,950
Inventories for Sale or Use$146,211$112,597▼ $33,614
Total Assets$56,227,605$59,310,075▲ $3,082,470
Other Assets Total$1,216,487$880,327▼ $336,160
Liabilities
Deferred Revenue$5,525,705$4,145,382▼ $1,380,323
Unsecured Notes Loans Payable$2,507,626$2,050,696▼ $456,930
Accounts Payable and Accrued Expenses$1,408,519$1,577,233▲ $168,714
Total Liabilities$9,441,850$7,773,311▼ $1,668,539
Net Assets / Fund Balance
Unrestricted Net Assets$33,369,037$33,081,833▼ $287,204
Temporarily Rstr Net Assets$6,607,828$11,608,911▲ $5,001,083
Permanently Rstr Net Assets$6,808,890$6,846,020▲ $37,130
Total Net Assets Fund Balance$46,785,755$51,536,764▲ $4,751,009
Total Liabilities and Net Assets / Fund Balance$56,227,605$59,310,075▲ $3,082,470

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$35,720,017$19,517,872$55,237,889
Equipment$209,495$1,799,634$2,009,129

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$13,023,971$37,130▲ $548,024$27,995$13,262,061
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
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Peter CaldwellHeadmasterFT$407,972$41,202$449,174
Peter Caldwell--$360,000$89,174$449,174
Darren BurnsUpper School HeadFT$171,865$36,155$208,020
Darren Burns--$163,280$46,823$208,020
John MascaroDean of FacultyFT$178,734$26,881$205,615
John Mascaro--$178,734$35,466$205,615
Bruce AdamsBusiness ManagerFT$163,051$25,171$188,222
Bruce Adams--$163,051$25,171$188,222
Edward FranzGuidanceFT$125,068$31,510$156,578
Edward Franz--$114,400$31,510$156,578
Elizabeth PattersonDirector of AdvancementFT$115,876$26,394$142,270
Paul FisherTechnology/Science TeacherFT$116,113$13,995$130,108
Boni LunaMiddle School HeadFT$114,594$14,038$128,632
Robert MitchellDirector of AdmissionsFT$99,231$27,983$127,214
Mark ClarBuilding and GroundsFT$101,482$25,098$126,580

Board Members and Trustees

NameTitle
Michael RangerPresident
John FayVice 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
Jeffrey GronningTrustee
John EganTrustee
Shane ConnellTrustee
Wilfredo FernandezTrustee
Judy TaggartSecretary
Thompson D Grant JrTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Flik Independent SchoolsDining Service3 International Dr 2nd Fl, Rye Brook, NY 10573$596,613
Global Sheet MetalContractor381 Main Street, Belleville, NJ 07109$350,440
Eastern Essential ServicePest Control Protection122 Clinton Rd 1st Fl, Fairfield, NJ 07004$300,996
World Class StaffigDining Staffing359 Von Nostrand Ave, Jersey City, NJ 07305$293,550
Durham School ServicesBus Services109 Aldene Rd Bldg 9, Roselle, NJ 07203$241,276
Revenue and Support

Revenue Composition

Contributions and Grants
$6,537,534
Program Service Revenue
$22,282,234
Investment Income
$453,870
Other Revenue
$921,445
All Other Contributions
$6,313,781
Change in Net Assets
$4,633,222

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 AmountValuation Method
Securities Publicly Traded6$1,409,723Fair Market Value (FMV)
Total Noncash Contributions6$1,409,723-

Audited Revenue Reconciliation

Revenue per Audited Statements
$27,630,702
Revenue Not Reported on Financial Statements
$2,682,168
Revenue Not Reported on Form 990
$245,690
Other Revenue Adjustments
$2,682,168
Total Revenue per Audited Statements
$27,876,392
Total Revenue per Form 990
$30,312,870
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$14,883,566
Other Expenses$7,996,127
Grants and Similar Amounts Paid$2,682,168
Total Fundraising Expense$724,317
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,789,336$3,107,487$539,586$11,436,409
Grants to Domestic Individuals$2,682,168--$2,682,168
Occupancy$1,803,887$44,958$0$1,848,845
Other Employee Benefits$1,282,357$435,303$94,449$1,812,109
Depreciation Depletion$1,601,077$0$0$1,601,077
Payroll Taxes$625,587$201,664$40,011$867,262
Pension Plan Contributions$526,947$222,749$18,090$767,786
Office Expenses$272,740$247,472$0$520,212
Information Technology$2,272$382,678$0$384,950
Insurance$0$342,091$0$342,091
Advertising$42,180$165,226$0$207,406
Fees for Services Other$84,720$46,518$32,181$163,419
All Other Expenses$72,675$30,883$0$103,558
Conferences and Meetings$80,266$18,234$0$98,500
Interest$0$82,246$0$82,246
Fees for Services Accounting$0$40,613$0$40,613
Other Expenses$40,364$0$0$40,364
Fees for Services Legal$0$39,503$0$39,503
Travel$3,029$19,933$0$22,962
Total Functional Expenses$18,949,326$5,888,218$724,317$25,561,861

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$25,561,861
Total Expenses per Audited Statements$23,125,383
Expenses per Audited Statements$22,879,693
Expenses Not Reported on Financial Statements$2,682,168
Other Expense Adjustments$2,682,168
Expenses Not Reported on Form 990$245,690
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$245,690
Fundraising Gross Income$245,690
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fall Event$162,762$113,349$113,349$0
Spring Event$192,822$51,086$51,086$0
Total Events$469,443$245,690$245,690-
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
ANJ Economic Development Authority2007-11-08$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

Filer Name
Morristown-Beard School
EIN
22-1487252
Phone
9735393032
Address
70 Whippany Road, Morristown, NJ 07960

Signing Officer

Name
Bruce Adams
Title
Business Manager
Phone
9735393032
Signed
2016-03-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bruce Adams
Formed
1939
Legal Domicile
Nj
Voting Board Members
23
Independent Board Members
23
Employees
383
Volunteers
150

Preparer

Firm
Suplee Clooney & Company
Address
308 East Broad Street, Westfield, NJ 07090-2122
Preparer
Robert J Butvilla
Phone
9087899300
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“The 990 is reviewed by the Headmaster, the Business Manager, and the full Board of Trustees. The information in the 990 is largely drawn from the audited financial statements which are reviewed by the Board.”

Pt VI, Line 12C

“Conflicts of Interest are reviewed by the Executive Committee of the Board.”

Pt VI, Line 15A

“The Compensation Committee of the Board uses compensation surveys to determine the salary for the Headmaster.”

Pt XI

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

Financial Statement Notes

Pt XI, Line 2D

“Fundraising Expenses”

Pt XI, Line 4B

“Scholarships”

Pt XII, Line 2D

“Fundraising Expenses”

Pt XII, Line 4B

“Scholarships”

Pt V, Line 4

“Scholarships”

Raw XML AppendixShowing 400 of 748 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/TitleTxt9Building and Grounds
IRS990/Form990PartVIISectionAGrp/TitleTxt10President
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IRS990/Form990PartVIISectionAGrp/TitleTxt12Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt13Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt14Secretary
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Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$59,310,075
Liabilities
$7,773,311
Net assets
$51,536,764
Revenue
$30,195,083
Expenses
$25,561,861
Net income
$4,633,222
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