2024-05-15T22:42:21-05:00 2023-06-30 042943536 TONNESON & COMPANY PC 401 EDGEWATER PLACE SUITE 300 WAKEFIELD MA 018806208 990 2022-07-01 043163180 MOTHER CAROLINE ACADEMY & EDUCATION CENTER MOTH 6174271177 515 BLUE HILL AVENUE DORCHESTER MA 021213203 ESSENCE LEE SOUFFRANT CO CHAIR 6174271177 2024-05-15 1 ESSENCE LEE SOUFFRANT 999009999 0 JODY K BOOTH P00963825 7812459999 2024-05-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ESSENCE LEE SOUFFRANT 515 BLUE HILL AVENUE DORCHESTER MA 021213203 2173340 0 X MCAEC.ORG X 1992 MA *REFER TO SCHEDULE O, PAGE 52MOTHER CAROLINE ACADEMY AND EDUCATION CENTER NURTURES, INSPIRES AND EMPOWERS STUDENTS AND FAMILIES TO ACHIEVE SUCCESS THROUGH EDUCATION. 12 12 23 100 0 0 1642965 1885224 16150 25250 954516 254671 -24719 -24617 2588912 2140528 12900 7250 0 0 1513025 1623911 0 0 349615 759307 817075 2285232 2448236 303680 -307708 12675822 13517158 137806 164508 12538016 13352650 X THE MISSION OF THE SCHOOL IS TO PROVIDE A QUALITY EDUCATION THAT DEVELOPS THE POTENTIAL OF EACH STUDENT AND PREPARES HER TO SUCCEED IN COMPETITIVE SECONDARY SCHOOLS. WE BELIEVE OUR MISSION CAN BEST BE *REFER TO SCHEDULE O, PAGE 52 FOR CONTINUATION*ACHIEVED BY FOCUSING HOLISTICALLY ON THE NEEDS OF OUR STUDENTS AND THEIR FAMILIES, AND BY PRESERVING A SPIRIT OF VOLUNTEERISM AND COMMITMENT AMONG ALL WHO AID AND SUPPORT AND BENEFIT FROM OUR MISSION. 0 0 1708812 7250 33445 THE ACADEMY IS A TUITION FREE SCHOOL (GRADE 3-8) SERVING APPROXIMATELY 70 GIRLS FROM ECONOMICALLY DISADVANTAGED FAMILIES. WE SEEK TO DEVELOP YOUNG WOMEN WITH A STRONG SENSE OF SELF-CONFIDENCE AND ESTEEM FOR THEMSELVES AND OTHERS AND INSTILL LEADERSHIP QUALITIES WHICH WILL ENABLE THEM LATER IN LIFE TO SERVE THE NEEDS OF THEIR BROADER COMMUNITIES. DURING THE MANDATORY AFTER-SCHOOL PROGRAM, STUDENTS ENGAGE IN A VARIETY OF ACTIVITIES SUCH AS SPORTS, ART, AND COOKING. THE EVENING STUDY PROGRAM HELPS STUDENTS COMPLETE HOMEWORK ASSIGNMENTS AND/OR PROVIDES TUTORING. GRADUATE SUPPORT IS PROVIDED. 100% OF OUR GIRLS GRADUATE FROM HIGH SCHOOL AND 95% GRADUATE FROM COLLEGE. 45522 THE MENTORING PROGRAM SEEKS TO PROVIDE SUPPORT TO CURRENT 7TH AND 8TH GRADE STUDENTS OF MCAEC IN PREPARATION FOR TRANSITION AWAY FROM THE MCAEC SCHOOL ENVIRONMENT, INTO PRIVATE HIGH SCHOOLS, AND ULTIMATELY TO COLLEGE. THE PROGRAM SERVED APPROXIMATELY 25 STUDENTS DURING THE CURRENT YEAR. 1754334 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 16 0 1 23 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MA X X X ANNMARIE QUEZADA 6174271177 515 BLUE HILL AVENUE DORCHESTER MA 02121 ANNMARIE QUEZADA HEAD OF SCHOOL, TRUSTEE, EX-OFFICIO 40.00 X 170507 0 16420 ESSENCE LEE SOUFFRANT CO CHAIR, TRUSTEE 2.00 X X 0 0 0 MEG TALLON CO CHAIR, TRUSTEE 2.00 X X 0 0 0 MATTHEW ENGLER TREASURER, TRUSTEE 2.00 X X 0 0 0 RANDI INGERMAN CLERK, TRUSTEE 2.00 X X 0 0 0 MIRIAM ALVES TRUSTEE 2.00 X 0 0 0 SHAMIKHAH BAKER TRUSTEE 2.00 X 0 0 0 LAURIE BEVIER TRUSTEE 2.00 X 0 0 0 DR TOM BURKE TRUSTEE 2.00 X 0 0 0 CHRISTY EGUN TRUSTEE 2.00 X 0 0 0 ANNYA HAUGHTON-WASHBURN TRUSTEE 2.00 X 0 0 0 RAINA JACQUES TRUSTEE 2.00 X 0 0 0 ELLEN SEGAL TRUSTEE 2.00 X 0 0 0 SR FRANCES BUTLER TRUSTEE, EX-OFFICIO 1.00 X 0 0 0 FR GERALD OSTERMAN TRUSTEE, EX-OFFICIO 1.00 X 0 0 0 MARIE LOUISE GREENIDGE DIRECTOR OF DEVELOPMENT 40.00 X 126745 0 7745 297252 0 24165 2 0 1 0 0 338351 197563 1349310 1885224 ACTIVITY & REG. FEES 611600 25250 25250 25250 254671 254671 0 338351 32812 -32812 -32812 OTHER INCOME 611600 8195 8195 8195 2140528 33445 0 221859 7250 7250 175000 35000 52500 87500 1235149 985969 75321 173859 7466 2301 2165 3000 83585 65250 6873 11462 122711 86361 11932 24418 65007 65007 116769 40783 65771 10215 440 440 73593 53365 11119 9109 86772 67301 5860 13611 239052 216529 14225 8298 21050 8095 12462 493 32987 27712 4828 447 614 614 45475 41155 2728 1592 45457 33294 6552 5611 SCHOOL ACTIVITIES 83170 83170 MISC EXPENSE 6689 359 6330 2448236 1754334 344287 349615 407858 274287 461829 304543 202697 287388 0 15649 37642 49936 7290634 6755529 250558 535105 11315238 12050250 12675822 13517158 127062 139317 10744 25191 137806 164508 X 3537182 3667505 9000834 9685145 12538016 13352650 12675822 13517158 -307708 1122342 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 11315240 1377012 642000 12050252 13634507 -1599267 720000 11315240 10480491 3154016 13634507 11308968 571523 1400000 10480491 11729253 729715 1150000 11308968 0.26230 0.40900 0.32870 0 0 25443 25443 6376790 5978653 398137 888401 776876 111525 535105 EXTENDED MARKET INDEX 1530644 F GROWTH INDEX FUND 3196628 F VALUE INDEX FUND 3728676 F SHORT-TERM BOND INDEX 1481619 F OTHER STOCKS 707373 F ADMIRAL MONEY MARKET 755500 F INTER-TERM INVEST- BONDS 649810 F 12050250 X 3295982 1122342 300 32812 1155454 2140528 0 2140528 2481348 300 32812 33112 2448236 0 2448236 PART V, LINE 4: THE SCHOOL'S PRIMARY OBJECTIVE IS LONG-TERM CAPITAL APPRECIATION WHICH TOGETHER WITH INCOME WILL PROVIDE FOR THE GROWTH OF THE ENDOWMENT WHILE ALLOWING SUPPORT FOR CURRENT ACTIVITIES. THE SCHOOL HAS ADOPTED A SPENDING POLICY WHEREBY A PERCENTAGE OF THE HISTORICAL AVERAGE MARKET VALUE OF THE ENDOWMENT FOR PROGRAM SERVICES AND CAPITAL NEEDS IS DISTRIBUTED AND TREATED AS SUPPORT FOR OPERATING ACTIVITIES. TO THE EXTENT THE TOTAL RETURN REQUIREMENT FOR THE CURRENT YEAR IS NOT FULFILLED BY INTEREST AND DIVIDENDS, THE SCHOOL UTILIZES GAINS OF ITS ENDOWMENT. TO THE EXTENT THE TOTAL RETURN REQUIREMENT FOR THE CURRENT YEAR IS EXCEEDED BY INTEREST AND DIVIDENDS, THE SCHOOL ADDS THE EXCESS INCOME TO ITS ENDOWMENT. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS RECOGNIZED THIS SCHOOL AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3). SECTION 501(C)(3) PROVIDES FOR THE EXEMPTION OF ORGANIZATIONS THAT ARE ORGANIZED AND OPERATED EXCLUSIVELY FOR RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY OR EDUCATIONAL PURPOSES AND WHOSE NET EARNINGS DO NOT INURE TO THE BENEFIT OF ANY PRIVATE SHAREHOLDER OR INDIVIDUAL. IN DETERMINING THE RECOGNITION OF UNCERTAIN TAX POSITIONS, THE SCHOOL APPLIES A MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD AND DETERMINES THE MEASUREMENT OF UNCERTAIN TAX POSITIONS CONSIDERING THE AMOUNTS AND PROBABILITIES OF THE OUTCOMES THAT COULD BE REALIZED UPON ULTIMATE SETTLEMENT WITH TAXING AUTHORITIES. AS OF JUNE 30, 2023, THE SCHOOL HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE SCHOOL IS GENERALLY SUBJECT TO POTENTIAL EXAMINATION BY TAXING JURISDICTIONS FOR THE PRIOR THREE YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSE 32,812. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSE 32,812. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 EACH STUDENT IS PROVIDED WITH A COPY OF THE STUDENT HANDBOOK, WHICH INCLUDES THE SCHOOL'S NON-DISCRIMINATION POLICY. THE POLICY IS ALSO INCLUDED IN ALL OF THE SCHOOL'S ADVERTISEMENTS. SCHEDULE E, PART I, LINE 6 THE SCHOOL PARTICIPATES IN A FEDERALLY ASSISTED MEAL PROGRAM KNOWN AS THE NATIONAL SCHOOL LUNCH PROGRAM. 80% TO 90% OF THE COST TO PROVIDE NUTRITIONALLY BALANCED MEALS TO THE STUDENTS IS REIMBURSED THROUGH THIS PROGRAM. IT IS ADMINISTERED BY THE MA DEPARTMENT OF EDUCATION. THE SCHOOL ALSO PARTICIPATES IN "ERATE", A FEDERAL PROGRAM THAT DISCOUNTS UP TO 90% OF CERTAIN TELECOMMUNICATIONS AND INTERNET ACCESS SERVICES/EQUIPMENT FOR ELIGIBLE SCHOOLS. THE PROGRAM IS RUN WITH OVERSIGHT FROM THE FEDERAL COMMUNICATIONS COMMISSION (FCC). ANNUAL DINNER 328351 328351 23066 NIGHT OF THE ARTS 10000 10000 6500 3017 229 338351 338351 6500 3017 23295 32812 -32812 1 APPLICATION & TESTING 12 7250 FMV PART I, LINE 2: THE GRADUATE SUPPORT COORDINATOR VERIFIES NEED BY COMMUNICATING WITH THE MATRICULATING INSTITUTION AND FUNDS ARE FORWARDED DIRECTLY TO EACH SCHOOL ON BEHALF OF THE STUDENT AND THEIR PARENTS. X X 0 0 0 0 0 0 0 0 0 ANNMARIE QUEZADA HEAD OF SCHOOL, TRUSTEE, EX-OFFICIO 170507 0 0 0 0 0 0 0 16420 0 186927 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE SCHOOL ENGAGES INDEPENDENT ACCOUNTANTS TO PREPARE THE FORM 990 WITH ASSISTANCE FROM THE SCHOOL'S BUSINESS MANAGER. UPON COMPLETION, THE PRESIDENT AND CEO REVIEW THE FORM 990 AND THEN PRESENT IT TO THE AUDIT AND FINANCE COMMITTEES. FORM 990, PART VI, SECTION B, LINE 12C NEW BOARD MEMBERS ARE PRESENTED WITH ALL POLICIES AS PART OF THEIR ORIENTATION. THROUGH THE VARIOUS COMMITTEE MEETINGS THE BOARD ASSURES THAT THE SCHOOL IS IN COMPLIANCE WITH THEIR POLICIES. AS PART OF THE BOARD'S OVERSIGHT, THE PRESIDENT AND MANAGEMENT ARE ALSO REQUIRED TO PREPARE REPORTS FOR BOARD MEETINGS THAT DETAIL DAY TO DAY ACTIVITIES. FORM 990, PART VI, SECTION B, LINE 15A SALARIES OF KEY STAFF ARE DETERMINED BY THE COMPENSATION COMMITTEE. THE COMPENSATION COMMITTEE REVIEWS MARKET TRENDS, JOB DESCRIPTIONS AND THE OVERALL BUDGET OF THE ORGANIZATION PRIOR TO DETERMINING SALARY RANGES FOR KEY POSITIONS. FORM 990, PART VI, SECTION C, LINE 19 VIA THE INTERNET AND UPON REQUEST.