Harborlight Montessori School Inc
- Assets
- $7.2m
- Revenue
- $6.9m
- Investments
- $570.3k
- Employees
- 114
- Location
- Beverly, MA
- Founding
- 07/1980
- Data as of
- 06/2023
- EIN
- 04-2680395
Organization Overview
Harborlight Montessori School Inc, operating under the name Harborlight Montessori & Montessori Institute - New England, is located in Beverly, MA. The organization was established in 1980. According to its NTEE Classification (B21) the organization is classified as: Preschools, under the broad grouping of Education and related organizations. As of 06/2023, Harborlight Montessori & Montessori Institute - New England employed 114 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harborlight Montessori & Montessori Institute - New England 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 06/2023, Harborlight Montessori & Montessori Institute - New England generated $6.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $5.8m during the year ending 06/2023. While expenses have increased by 3.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE AN INFANT THROUGH 8TH GRADE MONTESSORI SCHOOL WHERE EVERY CHILD DEVELOPS INDEPENDENCE, SELF-CONFIDENCE, AND AN AWARENESS OF THE WORLD THEY INHIBIT. HIGHLY SKILLED TEACHERS CREATE A RESPECTFUL, SUPPORTIVE, AND PEACEFUL ENVIRONMENT WHERE THEY NURTURE EACH STUDENT'S NATURAL PASSION, CURIOSITY, AND DESIRE TO LEARN. STUDENTS EMBRACE THEIR UNIQUENESS AND FULLY ACHIEVE THEIR EDUCATIONAL, SOCIAL, AND EMOTIONAL POTENTIAL. OUR SCHOOL IS A DYNAMIC COMMUNITY OF SUPPORT FACULTY, ENGAGED FAMILIES, AND PASSIONATE STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION:HARBORLIGHT MONTESSORI OFFERS A UNIQUELY WELL-ROUNDED, AUTHENTIC MONTESSORI EDUCATION FOR CHILDREN AGES 4 MONTHS THROUGH 14 YEARS. DURING THIS FISCAL YEAR THEY PROVIDED EDUCATION FOR APPROXIMATELY 265 STUDENTS.
SUMMER PROGRAMS:HARBORLIGHT OFFERS AN AUTHENTIC MONTESSORI EXPERIENCE DURING THE SUMMER MONTHS THAT INCLUDES A COMBINATION OF MONTESSORI CLASSROOM CURRICULUM AND ADVENTURES IN THE OUTDOOR CLASSROOM WITH A FOCUS ON SCIENCE AND NATURE.
TEACHER EDUCATION:MONTESSORI INSTITUTE-NEW ENGLAND PROVIDES EXCEPTIONAL ACADEMIC PROGRAMS DEDICATED TO THE SPIRITUAL AND TECHNICAL PREPARATION OF THE ADULT. AS A LEARNING COMMUNITY, WE PROMOTE INQUIRY, ENGAGEMENT, AND A COMMITMENT TO COMMON PURPOSE - THE DEVELOPMENT OF THE HUMAN POTENTIAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eileen Caruso President | OfficerTrustee | 1 | $0 |
Brandi Johnson Vice President | OfficerTrustee | 1 | $0 |
Kevin Carr Treasurer | OfficerTrustee | 1 | $0 |
Douglas Bowker Trustee | Trustee | 1 | $0 |
John Cusolito Trustee | OfficerTrustee | 1 | $0 |
Dean Tsouvalas Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $695,898 |
| All other contributions, gifts, grants, and similar amounts not included above | $68,053 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $763,951 |
| Total Program Service Revenue | $6,064,874 |
| Investment income | $78,502 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,414 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,909,741 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $556,606 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $263,214 |
| Compensation of current officers, directors, key employees. | $263,214 |
| Compensation to disqualified persons | $93,624 |
| Other salaries and wages | $3,165,977 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $353,174 |
| Payroll taxes | $301,976 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,851 |
| Fees for services: Other | $107,840 |
| Advertising and promotion | $10,024 |
| Office expenses | $397,728 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $68,473 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $53,969 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $192,411 |
| Insurance | $48,306 |
| All other expenses | $102,995 |
| Total functional expenses | $5,773,872 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $341,838 |
| Savings and temporary cash investments | $2,449,084 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $180,751 |
| 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 | $75,454 |
| Net Land, buildings, and equipment | $3,556,548 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $570,291 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $73,508 |
| Total assets | $7,247,474 |
| Accounts payable and accrued expenses | $204,470 |
| Grants payable | $0 |
| Deferred revenue | $636,575 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,227,150 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,068,195 |
| Net assets without donor restrictions | $3,914,811 |
| Net assets with donor restrictions | $264,468 |
| 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 | $7,247,474 |