Civic Intelligence

Morristown-Beard School

990 • Fiscal year 2016 • EIN 22-1487252

Jul 01, 2015 to Jun 30, 2016 • Filed on Mar 08, 2017

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

26th percentile

0.13x

Higher debt load relative to assets than 26% of similar nonprofits.

2016 filings • NTEE B • $50M-$100M nonprofits • Source year 2016

Liabilities / Revenue

23rd percentile

0.28x

Higher debt load relative to revenue than 23% of similar nonprofits.

2016 filings • NTEE B • $50M-$100M nonprofits • Source year 2016

Net Margin

68th percentile

8.7%

Higher net margin than 68% of similar nonprofits.

2016 filings • NTEE B • $50M-$100M nonprofits • Source year 2016

Top Officer Pay

76th percentile

$477,143

Higher top officer pay than 76% of similar nonprofits.

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

2016 filings • NTEE B • $50M-$100M nonprofits • Source year 2016

Asset Growth

70th percentile

3.6%

Faster asset growth than 70% of similar nonprofits.

2016 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2015 to 2016

Revenue Growth

36th percentile

-4.4%

Faster revenue growth than 36% of similar nonprofits.

2016 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets26th percentile

Assets

Up

$61,450,031

Up $2,139,956 (+3.6%) from 2015

Net Assets

Up

$53,297,545

Up $1,760,781 (+3.4%) from 2015

Liabilities

Up

$8,152,486

Up $379,175 (+4.9%) from 2015

Revenue And Expenses
Liabilities / Revenue23rd percentileNet Margin68th percentile

Revenue

Down

$28,875,690

Down $1,319,393 (-4.4%) from 2015

Expenses

Up

$26,364,581

Up $802,720 (+3.1%) from 2015

Net Income

Down

$2,511,109

Down $2,122,113 (-46%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth70th 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

2016

Assets$61,450,031
Liabilities$8,152,486
Net Assets$53,297,545
Open 2016 Filing

Operations Trend

Revenue Growth36th 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

2016

Revenue$28,875,690
Expenses$26,364,581
Net Income$2,511,109
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Mar 8, 2017
Return Version
2015v3.0
Gross Receipts
$29,076,998
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$35,929,512$36,851,532▲ $922,020
Investments in Publicly Traded Securities$12,407,278$11,406,710▼ $1,000,568
Cash and Non-Interest-Bearing Accounts$5,899,713$6,830,623▲ $930,910
Pledges and Grants Receivable$2,857,414$4,174,376▲ $1,316,962
Savings and Temporary Cash Investments$1,046,668$1,072,549▲ $25,881
Accounts Receivable$176,566$281,132▲ $104,566
Inventories for Sale or Use$112,597$84,518▼ $28,079
Total Assets$59,310,075$61,450,031▲ $2,139,956
Other Assets Total$880,327$748,591▼ $131,736
Liabilities
Deferred Revenue$4,145,382$4,572,532▲ $427,150
Unsecured Notes Loans Payable$2,050,696$1,953,707▼ $96,989
Accounts Payable and Accrued Expenses$1,577,233$1,626,247▲ $49,014
Total Liabilities$7,773,311$8,152,486▲ $379,175
Net Assets / Fund Balance
Unrestricted Net Assets$33,081,833$34,494,513▲ $1,412,680
Temporarily Rstr Net Assets$11,608,911$12,109,289▲ $500,378
Permanently Rstr Net Assets$6,846,020$6,693,743▼ $152,277
Total Net Assets Fund Balance$51,536,764$53,297,545▲ $1,760,781
Total Liabilities and Net Assets / Fund Balance$59,310,075$61,450,031▲ $2,139,956

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$34,697,151$21,109,944$55,807,095
Equipment$201,658$1,845,908$2,047,566
Other Land Buildings$1,952,723-$1,952,723

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$13,262,061$-127,277▼ $305,643$31,683$12,497,458
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
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Peter CaldwellHeadmasterFT$432,621$44,522$477,143
Peter Caldwell--$405,276$71,867$477,143
John MascaroDean of FacultyFT$185,397$26,021$211,418
John Mascaro--$185,397$41,021$211,418
Darren BurnsUpper School HeadFT$162,551$38,047$200,598
Darren Burns--$162,551$58,047$200,598
Bruce AdamsBusiness ManagerFT$172,081$24,755$196,836
Bruce Adams--$157,081$24,755$196,836
Elizabeth PattersonDirector of AdvancementFT$133,106$28,397$161,503
Elizabeth Patterson--$113,106$28,397$161,503
Boni LunaMiddle School HeadFT$131,606$28,397$160,003
Boni Luna--$131,606$28,397$160,003
Edward FranzGuidanceFT$124,508$32,947$157,455
Edward Franz--$124,508$32,947$157,455
Robert MitchellDirector of AdmissionsFT$111,270$33,147$144,417
Roger RichardHistory/Director Academic StudiesFT$115,333$26,297$141,630
Paul FisherTechnology/Science TeacherFT$120,332$19,310$139,642
Mark ClarBuilding and GroundsFT$103,352$29,261$132,613
Joseph LocandroDirector of Annual GivingFT$97,136$26,297$123,433

Board Members and Trustees

NameTitle
Michael RangerPresident
John FayVice President
Paolo CucchiVice President
Mary-ellen CampbellHonorary Trustee
Bernadette AielloTrustee
David FerryTrustee
David GatelyTrustee
Joseph B BakerTrustee
Ronald DepaolaTrustee
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$607,671
Barr & BarrContractor460 West 34th St, New York, NY 10001$455,806
Global Sheet MetalContractor681 Main Street, Belleville, NJ 07109$393,466
World Class StaffigDining Staffing359 Von Nostrand Ave, Jersey City, NJ 07305$346,396
Eastern Essential ServicePest Control Protection122 Clinton Rd 1st Fl, Fairfield, NJ 07004$293,382
Revenue and Support

Revenue Composition

Contributions and Grants
$4,827,295
Program Service Revenue
$22,827,987
Investment Income
$519,603
Other Revenue
$700,805
All Other Contributions
$4,684,451
Change in Net Assets
$2,511,109

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 Traded4$376,953Fair Market Value (FMV)
Total Noncash Contributions4$376,953-

Audited Revenue Reconciliation

Revenue per Audited Statements
$26,116,460
Revenue Not Reported on Financial Statements
$2,759,230
Revenue Not Reported on Form 990
$-549,020
Other Revenue Adjustments
$2,759,230
Total Revenue per Audited Statements
$25,567,440
Total Revenue per Form 990
$28,875,690
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$15,748,956
Other Expenses$7,856,395
Grants and Similar Amounts Paid$2,759,230
Total Fundraising Expense$941,902
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,112,087$3,213,759$668,147$11,993,993
Grants to Domestic Individuals$2,759,230--$2,759,230
Other Employee Benefits$1,521,312$511,039$65,720$2,098,071
Depreciation Depletion$1,638,347$0$0$1,638,347
Occupancy$1,244,838$49,773$0$1,294,611
Payroll Taxes$652,300$200,958$48,413$901,671
Pension Plan Contributions$483,025$226,902$45,294$755,221
Office Expenses$281,018$261,319$0$542,337
Insurance$0$358,723$0$358,723
Information Technology$4,085$342,689$0$346,774
Advertising$105,155$184,899$0$290,054
Fees for Services Other$153,082$38,415$91,120$282,617
Other Expenses$78,738$0$0$78,738
Interest$0$70,645$0$70,645
All Other Expenses$10,822$42,070$0$52,892
Fees for Services Legal$0$30,164$0$30,164
Fees for Services Accounting$0$26,630$0$26,630
Conferences and Meetings$8,186$11,783$0$19,969
Travel$1,141$15,513$0$16,654
Total Functional Expenses$19,515,242$5,907,437$941,902$26,364,581

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$26,364,581
Total Expenses per Audited Statements$23,806,659
Expenses per Audited Statements$23,605,351
Expenses Not Reported on Financial Statements$2,759,230
Other Expense Adjustments$2,759,230
Expenses Not Reported on Form 990$201,308
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$201,308
Fundraising Gross Income$201,308
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Spring Event$199,865$116,394$116,394$0
Fall Event$144,287$84,914$84,914$0
Total Events$344,152$201,308$201,308-
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
BPublic Finance Authority2015-10-06$9,000,000ref prior issue; new constr

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$9,000,000$2,000,000$14,500,000-
B----
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
2017-03-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bruce Adams
Formed
1939
Legal Domicile
Nj
Voting Board Members
27
Independent Board Members
27
Employees
388
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 773 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/TitleTxt10Director of Annual Giving
IRS990/Form990PartVIISectionAGrp/TitleTxt11History/Dir Academic Studies
IRS990/Form990PartVIISectionAGrp/TitleTxt12President
IRS990/Form990PartVIISectionAGrp/TitleTxt13Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt14Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt15Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt16Secretary
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$61,450,031
Liabilities
$8,152,486
Net assets
$53,297,545
Revenue
$28,875,690
Expenses
$26,364,581
Net income
$2,511,109
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