Civic Intelligence

Morristown-Beard School

990 • Fiscal year 2019 • EIN 22-1487252

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 06, 2019

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

42nd percentile

0.16x

Higher debt load relative to assets than 42% of similar nonprofits.

2019 filings • NTEE B • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

40th percentile

0.37x

Higher debt load relative to revenue than 40% of similar nonprofits.

2019 filings • NTEE B • $50M-$100M nonprofits • Source year 2019

Net Margin

63rd percentile

7.8%

Higher net margin than 63% of similar nonprofits.

2019 filings • NTEE B • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

80th percentile

$474,489

Higher top officer pay than 80% of similar nonprofits.

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

2019 filings • NTEE B • $50M-$100M nonprofits • Source year 2019

Asset Growth

69th percentile

6.7%

Faster asset growth than 69% of similar nonprofits.

2019 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

78th percentile

13%

Faster revenue growth than 78% of similar nonprofits.

2019 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2018 to 2019

Assets

Up

$72,886,502

Up $4,558,881 (+6.7%) from 2018

Net Assets

Up

$60,921,339

Up $2,779,419 (+4.8%) from 2018

Liabilities

Up

$11,965,163

Up $1,779,462 (+17%) from 2018

Revenue

Up

$32,033,926

Up $3,630,912 (+13%) from 2018

Expenses

Up

$29,546,969

Up $2,009,720 (+7.3%) from 2018

Net Income

Up

$2,486,957

Up $1,621,192 (+187%) from 2018

Historical Trend

Balance Sheet Trend

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

2019

Assets$72,886,502
Liabilities$11,965,163
Net Assets$60,921,339

Operations Trend

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

2019

Revenue$32,033,926
Expenses$29,546,969
Net Income$2,486,957
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 6, 2019
Return Version
2018v3.1
Gross Receipts
$32,124,204
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$46,678,572$46,582,242▼ $96,330
Investments in Publicly Traded Securities$14,027,520$15,141,781▲ $1,114,261
Savings and Temporary Cash Investments$50,293$7,893,858▲ $7,843,565
Pledges and Grants Receivable$3,206,185$1,967,321▼ $1,238,864
Cash and Non-Interest-Bearing Accounts$3,612,960$410,580▼ $3,202,380
Accounts Receivable$218,346$325,677▲ $107,331
Inventories for Sale or Use$35,828$42,080▲ $6,252
Total Assets$68,327,621$72,886,502▲ $4,558,881
Other Assets Total$497,917$522,963▲ $25,046
Liabilities
Deferred Revenue$3,994,766$6,388,160▲ $2,393,394
Unsecured Notes Loans Payable$4,443,255$3,542,240▼ $901,015
Accounts Payable and Accrued Expenses$1,747,680$2,034,763▲ $287,083
Total Liabilities$10,185,701$11,965,163▲ $1,779,462
Net Assets / Fund Balance
Unrestricted Net Assets$41,695,837$44,448,226▲ $2,752,389
Temporarily Rstr Net Assets$9,735,138$9,731,664▼ $3,474
Permanently Rstr Net Assets$6,710,945$6,741,449▲ $30,504
Total Net Assets Fund Balance$58,141,920$60,921,339▲ $2,779,419
Total Liabilities and Net Assets / Fund Balance$68,327,621$72,886,502▲ $4,558,881

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$43,578,799$23,302,686$66,881,485
Other Land Buildings$1,833,936-$1,833,936
Equipment$1,169,507$553,505$1,723,012
Land$0--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$13,793,559$1,133,733▲ $782,476$62,991$15,396,777
2017$14,021,113$8,625▲ $1,005,236$41,415$13,793,559
2016$12,497,458$8,577▲ $1,852,948$37,870$14,021,113
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Peter Caldwell--$427,625$53,448$481,073
Peter CaldwellHeadmasterFT$422,625$51,864$474,489
John MascaroDean of FacultyFT$210,330$27,426$237,756
John Mascaro--$200,302$37,454$237,756
Elizabeth PattersonDirector of AdvancementFT$196,574$33,917$230,491
Elizabeth Patterson--$188,609$41,882$230,491
Darren BurnsUpper School HeadFT$183,534$37,529$221,063
Darren Burns--$176,002$45,061$221,063
Bruce AdamsBusiness ManagerFT$193,280$25,776$219,056
Bruce Adams--$182,133$36,923$219,056
Boni LunaMiddle School HeadFT$159,149$31,039$190,188
Boni Luna--$151,383$38,805$190,188
Robert MitchellDirector of AdmissionsFT$130,982$32,229$163,211
Robert Mitchell--$123,809$39,402$163,211

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Flik Independent SchoolsDining Service3 International Dr 2nd Fl, Rye Brook, NY 10573$653,754
Global Sheet MetalContractor681 Main Street, Belleville, NJ 07109$480,792
World Class StaffingDining Staffing359 Von Nostrand Ave, Jersey City, NJ 07305$373,611
SR General ContractorContractor117 Washington St, Bloomfield, NJ 07003$367,300
DSG ServicesTechnology ServicesPO Box 2064, Morristown, NJ 07962$339,680
Revenue and Support

Revenue Composition

Contributions and Grants
$4,840,086
Program Service Revenue
$26,297,659
Investment Income
$434,093
Other Revenue
$462,088
All Other Contributions
$4,773,593
Change in Net Assets
$2,486,957

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 Traded8$604,489Fair Market Value (FMV)
Total Noncash Contributions8$604,489-

Audited Revenue Reconciliation

Revenue per Audited Statements
$27,988,704
Revenue Not Reported on Financial Statements
$3,856,445
Revenue Not Reported on Form 990
$571,518
Other Revenue Adjustments
$3,856,445
Total Revenue per Audited Statements
$28,560,222
Total Revenue per Form 990
$31,845,149
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$17,244,341
Other Expenses$8,446,183
Grants and Similar Amounts Paid$3,856,445
Total Fundraising Expense$1,076,700
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,687,885$3,758,961$787,600$13,234,446
Grants to Domestic Individuals$3,856,445--$3,856,445
Depreciation Depletion$1,568,113$522,705$0$2,090,818
Other Employee Benefits$1,369,482$525,985$152,961$2,048,428
Occupancy$1,162,038$503,130$0$1,665,168
Other Expenses$968,139$194,379$0$1,162,518
Payroll Taxes$705,019$238,571$54,159$997,749
Pension Plan Contributions$608,045$305,698$49,975$963,718
Office Expenses$674,002$253,867$0$927,869
Advertising$30,003$310,667$32,005$372,675
Insurance$0$364,505$0$364,505
Information Technology$111,726$105,706$0$217,432
Interest$0$138,306$0$138,306
All Other Expenses$47,888$29,670$0$77,558
Conferences and Meetings$29,015$26,467$0$55,482
Travel$11,661$23,404$0$35,065
Fees for Services Accounting$0$34,760$0$34,760
Fees for Services Legal$0$33,829$0$33,829
Fees for Services Other$0$12,000$0$12,000
Total Functional Expenses$21,066,983$7,403,286$1,076,700$29,546,969

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$29,514,964
Total Expenses per Audited Statements$25,780,803
Expenses per Audited Statements$25,658,519
Expenses Not Reported on Financial Statements$3,856,445
Other Expense Adjustments$3,856,445
Expenses Not Reported on Form 990$122,284
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$90,278
Fundraising Gross Income$90,278
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Spring Event$126,981$64,144$64,144$0
Fall Event$29,790$26,134$26,134$0
Total Events$156,771$90,278$90,278$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
APublic Finance Authority2015-10-06$9,000,000ref prior issue; new constr

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$9,000,000$2,000,000--
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
Philicia G Levinson
Title
Chief Financial Officer
Phone
9735393032
Signed
2019-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Philicia Levinson
Formed
1939
Legal Domicile
Nj
Voting Board Members
21
Independent Board Members
21
Employees
346
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

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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/TitleTxt0Headmaster
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/TitleTxt7President
IRS990/Form990PartVIISectionAGrp/TitleTxt8Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt9Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt10Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt11Secretary
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IRS990/Form990PartVIISectionAGrp/TitleTxt13Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt14Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt15Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt16Trustee
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IRS990/MissionDesc0Morristown-Beard School is an educational college preparatory school in Grades 6 to 12 located in Morristown, New Jersey.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

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