2024-04-23T09:13:27-05:00 2023-06-30 043037870 BOLLUS LYNCH LLP 89 SHREWSBURY STREET WORCESTER MA 01604 990 2022-07-01 030385377 NATIVITY SCHOOL OF WORCESTER INC NATI 5087990100 67 LINCOLN STREET WORCESTER MA 01605 THOMAS MCKENNEY PRESIDENT 5087990100 2024-03-27 1 THOMAS MCKENNEY 999009999 0 JAMES M JOHNSTON JR P02149189 5087557107 2024-03-27 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z THOMAS MCKENNEY 67 LINCOLN STREET WORCESTER MA 01605 14278931 0 X NATIVITYWORCESTER.ORG X 2002 MA THE SCHOOL EXISTS TO OFFER HIGH QUALITY EDUCATION TO BOYS FROM CHALLENGING CIRCUMSTANCES. IN A STRUCTED AND CARING ENVIRONMENT EACH "NATIVITY MAN" IS ENCOURAGED TO LEARN TO SERVE AND GROW TO THE BEST OF HIS ABILITY THROUGH THE SCHOOL'S FOUR PILLARS OF STRENGTH, SCHOLARSHIP, CHARACTER AND SERVICE. 26 25 0 80 0 0 4443158 12429402 3850 1531 351742 425421 239 11339 4798989 12867693 60874 93511 0 0 1306542 1506100 0 0 421975 825007 918986 2192423 2518597 2606566 10349096 14672902 25147795 89276 65242 14583626 25082553 X THE SCHOOL EXISTS TO OFFER HIGH QUALITY EDUCATION TO BOYS FROM CHALLENGING CIRCUMSTANCES. IN A STRUCTURED AND CARING ENVIRONMENT EACH "NATIVITY MAN" IS ENCOURAGED TO LEARN, TO SERVE AND TO GROW TO THE BEST OF HIS ABILITY THROUGH THE SCHOOL'S FOUR PILLARS OF STRENGTH, SCHOLARSHIP, CHARACTER AND SERVICE. 0 0 1412532 12870 COMPREHENSIVE MIDDLE SCHOOL EDUCATION FOR BOYS FROM ECONOMICALLY DISADVANTAGED HOUSEHOLDS, INCLUDING EXTENDED DAY, EXTENDED YEAR, SMALL CLASS SIZES, TUTORING, SCHOOL SUPPLIES AND UNIFORMS, SUMMER CAMP WITH LEADERSHIP OPPORTUNITIES, MEALS, AND SOCIAL-EMOTIONAL SUPPORT. 305317 93511 THE SCHOOL ALSO PROVIDES A COMPREHENSIVE SUPPORT PROGRAM FOR GRADUATES OF THE MIDDLE SCHOOL DURING THEIR HIGH SCHOOL AND COLLEGE YEARS, PROVIDING SCHOLARSHIP FUNDS FOR THEM TO ATTEND PRIVATE HIGH SCHOOLS. 1717849 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 26 25 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X SCOTT ODAMS 7742102383 67 LINCOLN STREET WORCESTER MA 01605 DAVID BRUNELLE TRUSTEE 1.00 X 0 0 0 DANIEL DOMPREH TRUSTEE 1.00 X 0 0 0 NICOLYN KEVILLE TREASURER 1.00 X X 0 0 0 WILLIAM CONDRON CHAIRMAN 1.00 X X 0 0 0 SEAN MCGRATH EMERITUS 1.00 X 0 0 0 MEG FLORENTINE SECRETARY 1.00 X X 0 0 0 REV WILLIAM REISER SJ TRUSTEE 1.00 X 0 0 0 VERONICA LISTERUD VICE CHAIRMAN 1.00 X X 0 0 0 WINIFRED OCTAVE TRUSTEE 1.00 X 0 0 0 CAROLYN STEMPLER TRUSTEE 1.00 X 0 0 0 MATTHEW BRUNELL TRUSTEE 1.00 X 0 0 0 PAMELA MASSAD TRUSTEE 1.00 X 0 0 0 JANE MOSAKOWSKI EMERITA 1.00 X 0 0 0 STEPHEN O'BRIEN TRUSTEE 1.00 X 0 0 0 VINCENT F O'ROURKE TRUSTEE 1.00 X 0 0 0 CANDACE RACE TRUSTEE 1.00 X 0 0 0 BISHOP EMERITUS DANIEL P REILLY EMERITUS 1.00 X 0 0 0 JACOB VAZQEUZ TRUSTEE 1.00 X 0 0 0 REV ANDREW GARAVEL SJ TRUSTEE 1.00 X 0 0 0 GEORGE TETLER TRUSTEE 1.00 X 0 0 0 MICHAEL TSOTSIS TRUSTEE 1.00 X 0 0 0 CHARLES WEISS PHD TRUSTEE 1.00 X 0 0 0 THOMAS MCKENNEY PRESIDENT 40.00 X X 141000 0 13113 THOMAS CLARKE TRUSTEE 1.00 X 0 0 0 ELIZABETH FEE TRUSTEE 1.00 X 0 0 0 PATRICK JONES TRUSTEE 1.00 X 0 0 0 141000 0 13113 3 0 1 0 0 12429402 12429402 PARENTAL ACTIVITY FEE 611710 1531 1531 1531 360574 360574 1476085 1411238 64847 64847 64847 OTHER 611600 11339 11339 11339 12867693 12870 0 425421 93511 93511 1237645 772298 246133 219214 27381 11884 3874 11623 137120 94874 28687 13559 103954 64849 20809 18296 6075 6075 15900 15900 750 750 33000 33000 1672 1672 89834 53271 1813 34750 51101 40452 686 9963 112853 107655 3849 1349 15799 11834 3048 917 164187 138995 24451 741 47157 46930 173 54 REPAIRS AND MAINTENANCE 154899 151522 2569 808 OTHER 134931 68109 11694 55128 FOOD AND FUNCTIONS 65211 36048 6590 22573 SUMMER CAMP & FIELD TRI 25617 25617 2518597 1717849 378773 421975 2527260 1937593 2775119 3959120 561056 6417347 11100 38683 3519790 1792064 1862704 1727726 6666214 10791879 269449 275447 14672902 25147795 89276 65242 89276 65242 X 7838817 8041723 6744809 17040830 14583626 25082553 14672902 25147795 X 10349096 516466 -366635 X 0 1 X 1 0 X 2273030 3700385 2264876 4443158 12429402 25110851 2273030 3700385 2264876 4443158 12429402 25110851 4924832 20186019 251864 311114 130647 142029 360574 1196228 26307079 0.76730 0.89150 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7544279 1020001 773513 291787 9046006 7688409 434420 -397591 180959 7544279 4652834 1972824 1237010 173261 998 7688409 4370761 326528 52965 97420 4652834 3185000 938466 329433 82138 4370761 0.22065 0.77935 1 0 234000 234000 2833866 1432971 1400895 451924 359093 92831 1727726 13016774 516466 -366635 149831 12866943 750 750 12867693 2517847 0 2517847 750 750 2518597 PART V, LINE 4: THE SCHOOL'S ENDOWMENT CONSISTS OF TEN INDIVIDUAL FUNDS (COLLECTIVELY THE "EDUCATIONAL ENDOWMENT FUND") AND THE FLAHERTY FUND ESTABLISHED FOR A VARIETY OF PURPOSES THROUGH DONOR RESTRICTED ENDOWMENT FUNDS, AS WELL AS THE BOARD DESIGNATED FUNDS WHICH HAS BEEN DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENT. THE EDUCATIONAL ENDOWMENT FUND PROVIDES A CONSISTENT LEVEL OF BUDGETARY SUPPORT TO THE SCHOOL'S EDUCATIONAL MISSION. THE FLAHERTY FUND PROVIDES GRAD SUPPORT. GIVEN THE GOALS OF THE FUNDS, EARNING SUFFICIENT LONG-TERM RETURNS TO OFFSET THE IMPACT OF WITHDRAWALS AND INFLATION ARE OF PRIMARY IMPORTANCE, WHILE REDUCING VOLATILITY AND LIQUIDITY RISKS ARE OF SECONDARY CONSIDERATION. THE BOARD DESIGNATED FUND IS AN UNRESTRICTED FUND WHICH THE SCHOOL'S BOARD OF TRUSTEES WILL HAVE BROAD DISCRETION OVER EXPENDITURES. PRIMARY USES OF THIS FUND WILL INCLUDE, BUT ARE NOT LIMITED TO, ASSET REPAIR OR REPLACEMENT SHORTFALLS IN DONATIONS RELATIVE TO THE OPERATING BUDGET, AND TEMPORARY FINANCIAL SUPPORT OF THE SCHOOL'S GRADUATES WHO ARE IN HIGH SCHOOL OR COLLEGE. THE BOARD OF TRUSTEES MUST APPROVE THE EXPENDITURES. GIVEN THE LIKELY UNPREDICTABLE AMOUNTS OF FUNDS WITHDRAWN FROM THIS FUND, CONSIDERATIONS OF RETURN, VOLATILITY RISK AND LIQUIDITY RELATED TO THE FUND ARE BALANCED CAREFULLY. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, THE SCHOOL CLASSIFIES AS DONOR RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, AND (C) ACCUMULATIONS TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUND THAT IS NOT CLASSIFIED AS NON-EXPENDABLE NET ASSETS IS CLASSIFIED AS EXPENDABLE NET ASSETS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY THE SCHOOL IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY STATE LAW. IN ACCORDANCE WITH THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT, THE SCHOOL MAY CONSIDER THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS: THE DURATION AND PRESERVATION OF THE FUND; THE PURPOSES OF THE SCHOOL AND THE DONOR-RESTRICTED ENDOWMENT FUND; GENERAL ECONOMIC CONDITIONS; THE POSSIBLE EFFECT OF INFLATION AND DEFLATION; THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS; OTHER RESOURCES OF THE SCHOOL; AND THE INVESTMENT POLICIES OF THE SCHOOL. THE INVESTMENT OBJECTIVE OF THE SCHOOL IS TO INVEST ITS ASSETS IN A PRUDENT MANNER TO ACHIEVE A LONG-TERM RATE OF RETURN SUFFICIENT TO REDUCE THE RISK OF POTENTIAL ADVERSE CONSEQUENCES RESULTING FROM UNANTICIPATED DONATION SHORTFALLS OR MAJOR CAPITAL EXPENSES. IN SEEKING ADEQUATE RETURNS TO ACHIEVE THESE GOALS, THE INVESTMENT COMMITTEE OF THE BOARD OF TRUSTEES WILL TAKE INTO ACCOUNT AND MODERATE THE VARIOUS MEASURES OF RISK INCLUDING BUT NOT LIMITED TO LIQUIDITY AND VOLATILITY. RISK WILL BE MEASURED ON THE TOTAL PORTFOLIO AND NOT ON INDIVIDUAL COMPONENTS AND SHOULD BE IN LINE WITH THE OBJECTIVES OF THE ENDOWMENT AND ITS EXPECTED RATE OF RETURN. THE SCHOOL HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION, AS NEEDED, AMOUNTS FOR THE PURPOSE OF SCHOLARSHIPS AND FINANCIAL AID, SPECIAL PROGRAMS, CAPITAL IMPROVEMENTS, AND ACADEMIC AND ATHLETIC SUPPORT PROGRAMS. IN ESTABLISHING THIS POLICY, THE SCHOOL CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS ENDOWMENT. THIS IS CONSISTENT WITH THE SCHOOL'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF ITS ENDOWMENT. FROM TIME TO TIME, THE FAIR VALUE OF ASSETS ASSOCIATED WITH INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS MAY FALL BELOW THE LEVEL THAT THE DONOR IMPOSED RESTRICTIONS REQUIRE THE SCHOOL TO RETAIN AS A FUND OF PERPETUAL DURATION. SUCH DEFICIENCIES AMOUNT TO $28,001 AS OF JUNE 30, 2023, WITH AN ORIGINAL GIFT VALUE OF $85,470 PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUST 5,998. LOSS ON UNCOLLECTIBLE CONTRIBUTIONS RECEIVABLE -372,633. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL PUBLISHES ITS RACIALLY NONDISCRIMINATION POLICY IN ITS APPLICATION. 1 SCHOLARSHIPS TO ATTEND HIGH SCHOOL 59 93511 0 0 0 0 0 0 0 0 0 THOMAS MCKENNEY PRESIDENT 126000 0 15000 0 0 0 3874 0 9239 0 154113 0 0 0 FORM 990, PART VI, SECTION A, LINE 7B AS DESCRIBED IN THE BY-LAWS CERTAIN ACTIONS OF THE BOARD REQUIRE APPROVAL AND CONSENT OF THE PROVINCIAL OF THE USA EAST PROVINCE OF THE SOCIETY OF JESUS AS FOLLOWS: APPOINTMENT OR REMOVAL OF THE PRESIDENT OR PRINCIPAL; MAJOR CHANGES TO THE EDUCATIONAL POLICIES AND PROGRAMS; CONSTRUCTION OR MAJOR RENOVATIONS OF THE FACILITIES; SALES PURCHASE OR LEASE OF LAND OR BUILDING; INCURRING DEBT OR PLEDGING OF PROPERTY. FORM 990, PART VI, SECTION B, LINE 11B REVIEWED AND VOTED UPON AT QUARTERLY MEETING OF ORGANIZATION'S TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD ANNUALLY MONITORS AND REVIEWS ANY CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 REVIEWED AND VOTED UPON AT QUARTERLY MEETING OF ORGANIZATION'S TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 THE TAX RETURNS AND FORM 1023 AS WELL AS OTHER ORGANIZING DOCUMENTS ARE AVALIABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUST 5,998. LOSS ON UNCOLLECTIBLE CONTRIBUTIONS RECEIVABLE -372,633.