Civic Intelligence

St. Benedict Classical Academy Inc.

990 • Fiscal year 2017 • EIN 46-3090230

Jul 01, 2016 to Jun 30, 2017 • Filed on Dec 05, 2017

2 Pleasant StreetSouth Natick, MA 01760-5622

(508) 650-1900

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$803,551

Down $130,803 (-14%) from 2016

Net Assets

Down

$712,562

Down $179,480 (-20%) from 2016

Liabilities

Up

$90,989

Up $48,677 (+115%) from 2016

Revenue And Expenses

Revenue

Down

$725,580

Down $97,923 (-12%) from 2016

Expenses

Up

$905,060

Up $48,128 (+5.6%) from 2016

Net Income

Down

-$179,480

Down $146,051 (-437%) from 2016

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2013: $111,371Liabilities 2013: $3,254Net Assets 2013: $108,1172013Assets 2014: $26,771Liabilities 2014: $2,200Net Assets 2014: $24,5712014Assets 2015: $1,079,151Liabilities 2015: $153,680Net Assets 2015: $925,4712015Assets 2016: $934,354Liabilities 2016: $42,312Net Assets 2016: $892,0422016Assets 2017: $803,551Liabilities 2017: $90,989Net Assets 2017: $712,5622017Assets 2018: $1,924,766Liabilities 2018: $116,242Net Assets 2018: $1,808,5242018Assets 2019: $5,683,300Liabilities 2019: $132,629Net Assets 2019: $5,550,6712019Assets 2020: $5,648,187Liabilities 2020: $309,037Net Assets 2020: $5,339,1502020Assets 2021: $9,394,767Liabilities 2021: $171,555Net Assets 2021: $9,223,2122021Assets 2022: $10,642,527Liabilities 2022: $344,401Net Assets 2022: $10,298,1262022Assets 2023: $11,661,274Liabilities 2023: $894,652Net Assets 2023: $10,766,6222023Assets 2024: $20,246,559Liabilities 2024: $2,589,475Net Assets 2024: $17,657,0842024

Highlighted filing

2017

Assets$803,551
Liabilities$90,989
Net Assets$712,562

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2013: $192,385Expenses 2013: $84,268Net Income 2013: $108,1172013Revenue 2014: $46,096Expenses 2014: $129,642Net Income 2014: -$83,5462014Revenue 2015: $439,529Expenses 2015: $530,296Net Income 2015: -$90,7672015Revenue 2016: $823,503Expenses 2016: $856,932Net Income 2016: -$33,4292016Revenue 2017: $725,580Expenses 2017: $905,060Net Income 2017: -$179,4802017Revenue 2018: $2,096,320Expenses 2018: $1,000,358Net Income 2018: $1,095,9622018Revenue 2019: $4,939,081Expenses 2019: $1,196,934Net Income 2019: $3,742,1472019Revenue 2020: $1,069,792Expenses 2020: $1,281,313Net Income 2020: -$211,5212020Revenue 2021: $5,447,799Expenses 2021: $1,563,737Net Income 2021: $3,884,0622021Revenue 2022: $3,137,870Expenses 2022: $2,062,956Net Income 2022: $1,074,9142022Revenue 2023: $3,395,400Expenses 2023: $2,926,904Net Income 2023: $468,4962023Revenue 2024: $10,361,185Expenses 2024: $3,470,723Net Income 2024: $6,890,4622024

Highlighted filing

2017

Revenue$725,580
Expenses$905,060
Net Income-$179,480
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Dec 5, 2017
Return Version
2016v3.0
Gross Receipts
$756,440
Mission and Program Overview

Mission

St. Benedict elementary is a co-ed independent school that offers classical education in the catholic tradition for students in kindergarten through grade 6

St. Benedict elementary is a co-ed independent school that offers a classical education in the catholic tradition for students in kindergarten through grade 6.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$791,667$691,667▼ $100,000
Cash and Non-Interest-Bearing Accounts$69,623$32,937▼ $36,686
Land, Buildings, and Equipment, Net$34,897$30,913▼ $3,984
Accounts Receivable$17,583$25,628▲ $8,045
Prepaid Expenses and Deferred Charges$20,584$22,406▲ $1,822
Total Assets$934,354$803,551▼ $130,803
Liabilities
Accounts Payable and Accrued Expenses$7,062$54,989▲ $47,927
Deferred Revenue$35,250$36,000▲ $750
Total Liabilities$42,312$90,989▲ $48,677
Net Assets / Fund Balance
Temporarily Rstr Net Assets$791,667$691,667▼ $100,000
Unrestricted Net Assets$100,375$20,895▼ $79,480
Total Net Assets Fund Balance$892,042$712,562▼ $179,480
Total Liabilities and Net Assets / Fund Balance$934,354$803,551▼ $130,803

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$30,913$18,896$49,809
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$257,307
Program Service Revenue
$403,875
Investment Income
$0
Other Revenue
$64,398
All Other Contributions
$257,307
Change in Net Assets
$-179,480

Audited Revenue Reconciliation

Revenue per Audited Statements
$725,580
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$30,860
Total Revenue per Audited Statements
$756,440
Total Revenue per Form 990
$725,580
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$619,931
Other Expenses$285,129
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$374,761$181,005-$555,766
Occupancy-$100,000-$100,000
Payroll Taxes$34,927$16,869-$51,796
Insurance-$21,737-$21,737
All Other Expenses-$17,118-$17,118
Other Expenses$11,399$13,959-$11,399
Other Employee Benefits-$10,769-$10,769
Office Expenses-$10,368-$10,368
Advertising-$9,960-$9,960
Depreciation Depletion-$7,089-$7,089
Fees for Services Accounting-$6,000-$6,000
Pension Plan Contributions-$1,600-$1,600
Fees for Services Legal-$1,255-$1,255
Total Functional Expenses$446,713$458,347$0$905,060

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$935,920
Expenses per Audited Statements$905,060
Total Expenses per Form 990$905,060
Expenses Not Reported on Form 990$30,860
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$93,760
Fundraising Direct Expenses$30,860
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Gala$56,650$56,650$24,517$32,133
Total Events$93,760$93,760$30,860$62,900
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
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 form 990 was distributed to the trustees via e-mail for their review and comments prior to filing.

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

The board of trustees monitors and enforces the conflict of interest policy on an on-going basis throughout the year. The school discloses any related party transactions in the annual audited financial statements.

Form 990, Part VI, Section B, Line 15

The board of trustees review and approve the headmasters annual salary.

Form 990, Part VI, Section C, Line 19

The financial statements and article of organization are available to the public on the office of the massachusetts attorney general's division of public charities website.in addition, the the governing documents and form 1023 are available by request.

Filing and Contact Details

Filer

Filer Name
St Benedict Elementary Inc
EIN
46-3090230
Phone
5086501900
Address
2 PLEASANT STREET, SOUTH NATICK, MA 01760-5622

Signing Officer

Name
James L Boren Jr
Title
Headmaster
Phone
5086501900
Signed
2017-12-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James L Boren Jr
Formed
2013
Legal Domicile
Ma
Voting Board Members
6
Independent Board Members
0
Employees
20
Volunteers
0

Preparer

Firm
Darmody Merlino & Co Llp
Address
75 FEDERAL STREET, BOSTON, MA 02110
Preparer
Joseph G Favuzza
Phone
6174267300
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The organization has not changed its oversight or selection process during the year.

Financial Statement Notes

PART X, LINE 2:

Accounting principles generally accepted in the united states of america require the school to evaluate tax positions taken and recognize a tax liability or asset if the school has taken an uncertain tax position that more-likely-than-not would not be sustained upon examination by taxing authorities. The school has analyzed the tax positions taken and concluded that, as of june 30, 2017, there are no uncertain positions taken or expected to be taken that would require the recognition of a liability or asset or disclosure in the financial statements.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Fundraising revenue is shown net of expenses on form 990, part 1, line 12 30,860.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expenses are net with revenues on form 990,part 1,line, 12 30,860.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE THE SCHOOL TO EVALUATE TAX POSITIONS TAKEN AND RECOGNIZE A TAX LIABILITY OR ASSET IF THE SCHOOL HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE-LIKELY-THAN-NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE SCHOOL HAS ANALYZED THE TAX POSITIONS TAKEN AND CONCLUDED THAT, AS OF JUNE 30, 2017, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE THE RECOGNITION OF A LIABILITY OR ASSET OR DISCLOSURE IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING REVENUE IS SHOWN NET OF EXPENSES ON FORM 990, PART 1, LINE 12 30,860.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDRAISING EXPENSES ARE NET WITH REVENUES ON FORM 990,PART 1,LINE, 12 30,860.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt030913
IRS990ScheduleD/TotalExpensesPerForm990Amt0905060
IRS990ScheduleD/TotalRevenuePerForm990Amt0725580
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0756440
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0935920
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd00
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL PUBLISHED ITS POLICY IN THE NEWSPAPER AND ON ITS WEBSITE.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt030860
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0ANNUAL GALA
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt056650
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt037110
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt093760
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt056650
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt037110
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt093760
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt062900
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt06343
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt030860
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt024517
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt012
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 WAS DISTRIBUTED TO THE TRUSTEES VIA E-MAIL FOR THEIR REVIEW AND COMMENTS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF TRUSTEES MONITORS AND ENFORCES THE CONFLICT OF INTEREST POLICY ON AN ON-GOING BASIS THROUGHOUT THE YEAR. THE SCHOOL DISCLOSES ANY RELATED PARTY TRANSACTIONS IN THE ANNUAL AUDITED FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF TRUSTEES REVIEW AND APPROVE THE HEADMASTERS ANNUAL SALARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FINANCIAL STATEMENTS AND ARTICLE OF ORGANIZATION ARE AVAILABLE TO THE PUBLIC ON THE OFFICE OF THE MASSACHUSETTS ATTORNEY GENERAL'S DIVISION OF PUBLIC CHARITIES WEBSITE.IN ADDITION, THE THE GOVERNING DOCUMENTS AND FORM 1023 ARE AVAILABLE BY REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT OR SELECTION PROCESS DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0791667
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0691667
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0934354
IRS990/TotalAssetsEOYAmt0803551
IRS990/TotalAssetsGrp/BOYAmt0934354
IRS990/TotalAssetsGrp/EOYAmt0803551
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0257307
IRS990/TotalEmployeeCnt020
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0458347
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0446713
IRS990/TotalFunctionalExpensesGrp/TotalAmt0905060
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt042312
IRS990/TotalLiabilitiesEOYAmt090989
IRS990/TotalLiabilitiesGrp/BOYAmt042312
IRS990/TotalLiabilitiesGrp/EOYAmt090989
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0892042
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0712562
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0446713
IRS990/TotalProgramServiceRevenueAmt0403875
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt062900
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0405373
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0725580
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0934354
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0803551
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0100375
IRS990/UnrestrictedNetAssetsGrp/EOYAmt020895
IRS990/USAddress/AddressLine1Txt02 PLEASANT STREET
IRS990/USAddress/CityNm0NATICK
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001760
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.STBENEDICTELEMENTARY.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES L BOREN JR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0HEADMASTER
ReturnHeader/BusinessOfficerGrp/PhoneNum05086501900
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-12-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ST BENEDICT ELEMENTARY INC
ReturnHeader/Filer/BusinessNameControlTxt0STBE
ReturnHeader/Filer/EIN0463090230
ReturnHeader/Filer/PhoneNum05086501900
ReturnHeader/Filer/USAddress/AddressLine1Txt02 PLEASANT STREET
ReturnHeader/Filer/USAddress/CityNm0SOUTH NATICK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd0017605622
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0372658B9A17C1FEF9C4B9BE8E8028FFADA8B4A06
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0857B0C19BAAFB7E6FA9BF0784B1149F178C731E1
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P

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