Middlesex School
- Assets
- $434.6m
- Revenue
- $51.7m
- Investments
- $196.5m
- Employees
- 251
- Location
- Concord, MA
- Founding
- 02/1944
- Data as of
- 06/2022
- EIN
- 04-2103821
Organization Overview
Middlesex School is located in Concord, MA. The organization was established in 1944. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. As of 06/2022, Middlesex School employed 251 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Middlesex School is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Middlesex School generated $51.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $46.6m during the year ending 06/2022. While expenses have increased by 2.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
MIDDLESEX SCHOOL IS A COLLEGE-PREPARATORY SCHOOL FOR GRADES 9 THROUGH 12.
Describe the Organization's Program Activity:
MIDDLESEX SCHOOL IS A NON-SECTARIAN COLLEGE PREPARATORY BOARDING AND DAY SCHOOL FOR BOYS AND GIRLS IN GRADES 9-12. MIDDLESEX HAS ALWAYS PRIDED ITSELF IN ATTRACTING A DIVERSE, HIGHLY MOTIVATED GROUP OF STUDENTS FROM ACROSS THE COUNTRY AND MORE RECENTLY THE WORLD. CURRENT ENROLLMENT IS ABOUT 400 STUDENTS FROM MANY STATES AND COUNTRIES. FOUNDED IN 1901, THE SCHOOL HAS A LONG TRADITION OF PLACING STUDENTS IN THE MOST SELECTIVE COLLEGES. MIDDLESEX OFFERS A CHALLENGING ACADEMIC PROGRAM. IN ADDITION TO ITS SCHOOL YEAR PROGRAM, MIDDLESEX MAKES USE OF ITS CAMPUS FACILITIES FOR SUMMER AUXILIARY PROGRAMS CONSISTENT WITH ITS PRIMARY MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Beare Head Of School (thru 12/10/21) | OfficerTrustee | 80 | $474,574 |
Karlyn M Mcnall Interim Hos (from 12/10/21) | OfficerTrustee | 80 | $213,921 |
Ricardo Albarran Trustee | Trustee | 5 | $0 |
Alexander Banker Trustee | Trustee | 5 | $0 |
Mary Lou Boutwell Trustee | Trustee | 5 | $0 |
Johanna Boynton Trustee | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Flikcompass Group Usa Dining And Hospitality | 6/29/22 | $1,699,194 |
American Express Banking/credit Card Services | 6/29/22 | $766,246 |
Equipnet Dba Occumed New England Health And Safety Training | 6/29/22 | $671,577 |
Wog Construction Inc Construction | 6/29/22 | $286,270 |
Cbtchilds Bertman Tseckares Inc Architecture | 6/29/22 | $275,926 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $800 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,253,353 |
| Noncash contributions included in lines 1a–1f | $354,306 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,254,153 |
| Total Program Service Revenue | $25,902,224 |
| Investment income | $2,282,891 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $94,952 |
| Net Gain/Loss on Asset Sales | $16,464,637 |
| Net Income from Fundraising Events | $192 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $16,081 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $51,673,207 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $66,464 |
| Grants and other assistance to domestic individuals. | $7,130,907 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,564,810 |
| Compensation of current officers, directors, key employees. | $751,093 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,996,991 |
| Pension plan accruals and contributions | $1,121,596 |
| Other employee benefits | $3,755,166 |
| Payroll taxes | $903,477 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $661,101 |
| Fees for services: Accounting | $113,126 |
| Fees for services: Lobbying | $3,120 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,650,889 |
| Fees for services: Other | $1,451,454 |
| Advertising and promotion | $91,388 |
| Office expenses | $555,257 |
| Information technology | $809,193 |
| Royalties | $3,067 |
| Occupancy | $2,608,031 |
| Travel | $651,282 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $74,219 |
| Interest | $440,574 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,098,832 |
| Insurance | $335,883 |
| All other expenses | $495,618 |
| Total functional expenses | $46,626,306 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,896,244 |
| Savings and temporary cash investments | $15,011,381 |
| Pledges and grants receivable | $40,187,428 |
| Accounts receivable, net | $11,044,673 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $48,935 |
| Prepaid expenses and deferred charges | $556,378 |
| Net Land, buildings, and equipment | $102,693,739 |
| Investments—publicly traded securities | $14,672,784 |
| Investments—other securities | $196,485,112 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $52,001,783 |
| Total assets | $434,598,457 |
| Accounts payable and accrued expenses | $3,268,732 |
| Grants payable | $0 |
| Deferred revenue | $18,719,694 |
| Tax-exempt bond liabilities | $17,339,604 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $37,527,079 |
| Total liabilities | $76,855,109 |
| Net assets without donor restrictions | $108,160,900 |
| Net assets with donor restrictions | $249,582,448 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $434,598,457 |
Grants Awarded
Over the last fiscal year, Middlesex School has awarded $50,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TOWN OF CONCORD - CONCORD CARES PURPOSE: GIFT FOR TOWN PUBLIC SAFETY COMMUNICATIONS EQUIPMENT | $25,000 |
CONCORD FREE LIBRARY PURPOSE: GIFT FOR TOWN LIBRARY FOR ADDITION TO THE FACILITY | $25,000 |