Summit Montessori School
- Assets
- $4.2m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 44
- Location
- Framingham, MA
- Founding
- 10/1997
- Data as of
- 06/2022
- EIN
- 04-3298290
Organization Overview
Summit Montessori School is located in Framingham, MA. The organization was established in 1997. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2022, Summit Montessori School employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Summit Montessori 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, Summit Montessori School generated $3.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $2.6m during the year ending 06/2022. While expenses have increased by 4.9% 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
REFER TO SCHEDULE O.SUMMIT MONTESSORI SCHOOL IS A COMMUNITY DEDICATED TO DEVELOPING RESPECTFUL, SELF-MOTIVATED, LIFE-LONG LEARNERS THROUGH A CHALLENGING, INDIVIDUALIZED, MONTESSORI-BASED CURRICULUM. THE CHILDREN CULTIVATE THEIR STRENGTHS TO REACH THEIR UNIQUE POTENTIAL AND TO BECOME ACTIVE PARTICIPANTS IN THE GLOBAL COMMUNITY.
Describe the Organization's Program Activity:
SUMMIT MONTESSORI SCHOOL IS AN INDEPENDENT SCHOOL FOR CHILDREN ENROLLED FROM PRE-SCHOOL THROUGH SIXTH GRADE THAT OPERATES WITH A MONTESSORI PEDAGOGY.
AFTER-SCHOOL AND SUMMER PROGRAMS - AFTER-SCHOOL CARE PROVIDES ENRICHING, EXTENDED SCHOOL HOURS FOR THOSE CHILDREN WHO ENROLL. THE EXPLORATIONS PROGRAM PROVIDES OPPORTUNITIES TO EXPLORE ACTIVITIES SUCH AS ART OR OTHER VARIOUS PROGRAMS IN-DEPTH. IN ADDITION, THE SCHOOL FURTHER EXTENDED ITS HOURS TO PROVIDE AN EARLY-CARE OPTION FOR PARENTS PROVIDING THE SAME ENRICHING ENVIRONMENT AS THE AFTER-SCHOOL CARE PROGRAM. THE SUMMER PROGRAM PROVIDES THE CHILDREN WITH A SUMMER CAMP EXPERIENCE. THIS PROGRAM INCLUDES BOTH INDOOR AND OUTDOOR ACTIVITIES, AS WELL AS FIELD TRIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martha Torrence Head Of School | Trustee | 50 | $171,215 |
Matthew Grasse Vice President | OfficerTrustee | 5 | $0 |
Kate Salley President | OfficerTrustee | 3 | $0 |
Jeff Esper Treasurer | OfficerTrustee | 5 | $0 |
Eric Falcone Secretary | Trustee | 3 | $0 |
Josh Grossetti Trustee | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $416,302 |
| All other contributions, gifts, grants, and similar amounts not included above | $730,778 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,147,080 |
| Total Program Service Revenue | $2,341,937 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$10,639 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,479,573 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $84,750 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $196,479 |
| Compensation of current officers, directors, key employees. | $196,479 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,340,114 |
| Pension plan accruals and contributions | $40,064 |
| Other employee benefits | $185,456 |
| Payroll taxes | $141,389 |
| Fees for services: Management | $26,760 |
| Fees for services: Legal | $6,712 |
| Fees for services: Accounting | $20,161 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $31,076 |
| Office expenses | $0 |
| Information technology | $23,196 |
| Royalties | $0 |
| Occupancy | $35,562 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,361 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $75,867 |
| Insurance | $0 |
| All other expenses | $25,664 |
| Total functional expenses | $2,597,954 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $753,140 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $32,087 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,433,282 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,218,509 |
| Accounts payable and accrued expenses | $585,443 |
| Grants payable | $0 |
| Deferred revenue | $1,114,010 |
| 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 | $176,635 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,876,088 |
| Net assets without donor restrictions | $2,054,825 |
| Net assets with donor restrictions | $287,596 |
| 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 | $4,218,509 |