Belmont Hill School Inc
- Assets
- $242.8m
- Revenue
- $42.5m
- Investments
- $129.6m
- Employees
- 264
- Location
- Belmont, MA
- Founding
- 04/1929
- Data as of
- 06/2021
- EIN
- 04-2103870
Organization Overview
Belmont Hill School Inc is located in Belmont, MA. The organization was established in 1929. 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 06/2023, Belmont Hill School Inc employed 264 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Belmont Hill School Inc 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 06/2021, Belmont Hill School Inc generated $42.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $34.4m during the year ending 06/2021. While expenses have increased by 2.7% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
BELMONT HILL SCHOOL EDUCATES BOYS IN MIND, BODY, AND SPIRIT TO DEVELOP MEN OF GOOD CHARACTER. OUR COMMUNITY ENCOURAGES AND CHALLENGES STUDENTS TO DISCOVER AND PURSUE PASSIONS, SEEK EXCELLENCE AND FACE ADVERSITY WITH RESILIENCE. WE CULTIVATE CRITICAL THINKING AND CREATIVITY, TEAMWORK AND COMPETITION, HARD WORK AND REFLECTIONS, TRADITION AND INNOVATION. VALUING OUR DIFFERENCES AND WORKING TOGETHER, WE EMBRACE CAMARADERIE, COMPASSION, AND SERVICE TO OTHERS. OUR SCHOOL STRIVES TO INSTILL IN EACH BOY ETHICAL JUDGMENT, A SENSE OF COMMON HUMANITY, AND LIFELONG LOVE OF LEARNING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL INSTITUTIONS AND RELATED ACTIVITIES: BELMONT HILL SCHOOL'S MISSION IS TO EDUCATE BOYS IN MIND, BODY, AND SPIRIT. OUR ENVIRONMENT OF BOTH CHALLENGE AND SUPPORT EMPHASIZES STRONG MORAL VALUES, HONEST EFFORT, AND RESPONSIBILITY FOR ONESELF AND COMMUNITY. VALUING DIFFERENCE, BELMONT HILL WELCOMES STUDENTS FROM A BROAD RANGE OF BACKGROUNDS AND EXPERIENCES. THROUGH SHARED COMMITMENT TO THE CLASSROOM, PLAYING FIELD, STUDIO, AND STAGE, STUDENTS AND TEACHERS FORGE SPECIAL BONDS. RESPECTING TRADITION YET ALIVE TO INNOVATION, OUR STRUCTURED AND RIGOROUS PROGRAM PROVIDES STUDENTS WITH CLEAR EXPECTATIONS AND CONSISTENT ENCOURAGEMENT, A FRAMEWORK FOR GROWTH THAT HONORS CREATIVITY, TEAMWORK, AND COMPETITION. BELMONT HILL HELPS STUDENTS TO DEVELOP CLEAR THINKING AND LIFELONG LOVE OF LEARNING; TO BECOME SENSITIVE AND RESPONSIVE TO THE COMPLEXITIES OF MODERN SOCIETY; TO GAIN THE SKILLS, VALUES, AND COURAGE TO FACE THE FUTURE WITH CONFIDENCE; TO EMBRACE, BOTH NOW AND IN LATER LIFE, A SPIRIT OF WORKING TOGETHER TO BETTER THE WORLD. BELMONT HILL SCHOOL GIVES ITS STUDENTS A STRONG, TRADITIONALLY DEFINED EDUCATION, IN A BALANCED, WELL ROUNDED ENVIRONMENT. THE VALUE OF ITS CORE CURRICULUM SEEMS TO HAVE INCREASED WITH TIME. THE SCHOOL'S INSISTENCE ON THIS TRADITIONAL FRAMEWORK OF EXCELLENCE, IN MANY WAYS SIMPLE AND STRAIGHTFORWARD, GIVES THE CURRICULUM DISTINCTION, AND CONTINUES TO BE ITS FIRST PRINCIPLE IN PLANNING FOR THE FUTURE.
EDUCATIONAL INSTITUTIONS AND RELATED ACTIVITIES: EDUCATED 805 BOYS AND GIRLS, AGES 8 TO 18, IN A 6 WEEK COMPREHENSIVE AND RIGOROUS SUMMER SCHOOL OR SUMMER CAMP. STUDENTS TAKE COURSES FOR REMEDIATION, FOR ENRICHMENT, AND FOR ACADEMIC CREDIT HERE AND AT OTHER SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory J Schneider Ronald M. Druker '62 Head Of School-Secretary | OfficerTrustee | 50 | $598,879 |
Beverly Couglin Director Of Development | Officer | 50 | $372,338 |
Jay Bounty Assistant Treasurer CFO And Director Of Operations | Officer | 50 | $336,069 |
Caleb Collins Director Of Community & Diversity | 50 | $149,240 | |
Michael Grant Assistant Head Of School | 50 | $169,899 | |
Jay Fritz Director Of Major And Planned Gifts | 50 | $177,849 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc And Affiliates Food Services | 6/29/23 | $1,691,999 |
Bedford Charter Services Transportation Services | 6/29/23 | $681,440 |
Compass Facility Services Custodial Services | 6/29/23 | $604,263 |
Doug Rancourt Electrician Services | 6/29/23 | $346,384 |
Reed Hilderbrand Llc Construction Services | 6/29/23 | $221,393 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,578,059 |
| Investment income | $384,405 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$535,600 |
| Net Gain/Loss on Asset Sales | $5,801,027 |
| Net Income from Fundraising Events | -$9,186 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$175,447 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $42,454,308 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $5,751,356 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $993,155 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,802,871 |
| Pension plan accruals and contributions | $953,546 |
| Other employee benefits | $2,370,437 |
| Payroll taxes | $904,948 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $93,594 |
| Fees for services: Accounting | $68,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $139,022 |
| Fees for services: Other | $920,642 |
| Advertising and promotion | $69,769 |
| Office expenses | $780,164 |
| Information technology | $410,976 |
| Royalties | $0 |
| Occupancy | $1,907,542 |
| Travel | $17,910 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,316 |
| Interest | $1,052,711 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,492,709 |
| Insurance | $193,023 |
| All other expenses | $0 |
| Total functional expenses | $34,375,170 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,000 |
| Savings and temporary cash investments | $18,401,456 |
| Pledges and grants receivable | $8,124,617 |
| Accounts receivable, net | $131,565 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $860,557 |
| Investments—publicly traded securities | $32,028,954 |
| Investments—other securities | $129,639,160 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $203,486 |
| Total assets | $242,788,328 |
| Accounts payable and accrued expenses | $1,322,203 |
| Grants payable | $0 |
| Deferred revenue | $2,953,837 |
| Tax-exempt bond liabilities | $36,340,156 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $42,616,196 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $200,172,132 |