2025-11-13T11:45:15-06:00 2025-06-30 390859910 BAKER TILLY ADVISORY GROUP LP 18500 VON KARMAN AVE 10TH FLOOR IRVINE CA 92612 990 2024-07-01 941170412 TOWN SCHOOL FOR BOYS TOWN 4159213747 2750 JACKSON STREET SAN FRANCISCO CA 94115 KARY NORTON CHIEF FINANCIAL OFFICER 4159213747 2025-11-05 1 0 BRIAN YACKER P00401346 9492222999 2025-11-05 2024 2025-03-06 01:10:19Z LORRI HAMILTON DURBIN 2750 JACKSON STREET SAN FRANCISCO CA 94115 41904294 0 X WWW.TOWNSCHOOL.COM X 1939 CA AT TOWN SCHOOL, LEARNING IS PRIZED, LOVE OF SCHOOL IS ESSENTIAL, AND BOYHOOD IS CELEBRATED. 26 26 109 200 0 0 5868728 11386390 19620189 21129399 2197337 2786843 -164792 -190667 27521462 35111965 2480440 2832524 0 0 15776213 16693843 0 0 2118509 7755482 8079796 26012135 27606163 1509327 7505802 105936482 117431380 29210625 30208596 76725857 87222784 X AT TOWN SCHOOL, LEARNING IS PRIZED, LOVE OF SCHOOL IS ESSENTIAL AND BOYHOOD IS CELEBRATED. TOWN VALUES BEING A DIVERSE COMMUNITY THAT NURTURES INTEGRITY, SENSITIVITY AND RESPECT IN ITS BOYS AND PREPARES THEM TO BECOME PRODUCTIVE AND CONTRIBUTING MEMBERS OF AN EVER-CHANGING WORLD. 0 0 23495286 2832524 21129399 TOWN SCHOOL FOR BOYS IS AN INDEPENDENT ALL BOYS' SCHOOL SERVING GRADES K-8 WITH AN APPROXIMATE ENROLLMENT OF 415. AT TOWN SCHOOL, LEARNING IS PRIZED, LOVE OF SCHOOL IS ESSENTIAL, AND BOYHOOD IS CELEBRATED. AS AN ALL BOYS' SCHOOL, TOWN PROVIDES A RICH, CHALLENGING AND RIGOROUS EDUCATIONAL EXPERIENCE THAT ADDRESSES THE DISTINCTIVE ENERGY LEVELS AND DEVELOPMENTAL STYLES OF BOYS. TOWN VALUES BEING A DIVERSE AND INCLUSIVE COMMUNITY THAT NURTURES INTEGRITY, SENSITIVITY AND RESPECT IN ITS BOYS, AND PREPARES THEM TO BECOME PRODUCTIVE AND CONTRIBUTING MEMBERS OF AN EVER-CHANGING WORLD. IN ADDITION TO ITS ACADEMIC PROGRAM, TOWN ALSO OFFERS OTHER ACTIVITIES INCLUDING ATHLETICS, EXTENDED DAY PROGRAMS, OUTDOOR EDUCATION EXPERIENCES, CLUBS AND AFFINITY GROUPS, SERVICE LEARNING AND GLOBAL CITIZENSHIP OPPORTUNITIES THAT ALL SHAPE TOWN'S PORTRAIT OF A GRADUATE AND CELEBRATE TOWN'S VALUES OF RESPECT, CURIOSITY, BELONGING, INTEGRITY, AND JOY. 23495286 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 64 0 1 109 1 0 0 0 0 0 0 0 0 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 CA X KARY NORTON 4159213747 2750 JACKSON STREET SAN FRANCISCO CA 94115 X WYATT GRUBER CHAIR 5.00 X X 0 0 0 TONIA KARR VICE CHAIR 5.00 X X 0 0 0 BRETT BUSH TREASURER 5.00 X X 0 0 0 LAUREN FORD SECRETARY 5.00 X X 0 0 0 CLARA ABECASSIS BOARD MEMBER 2.00 X 0 0 0 ELIZABETH B BOARD MEMBER 2.00 X 0 0 0 VICKIE BARRET BOARD MEMBER 2.00 X 0 0 0 BERNADETTE CAPOZZOLI BOARD MEMBER 2.00 X 0 0 0 JULIA COLLINS BOARD MEMBER 2.00 X 0 0 0 EVAN COOKE BOARD MEMBER 2.00 X 0 0 0 PUTNAM DAILY BOARD MEMBER 2.00 X 0 0 0 BRAD DEFOOR BOARD MEMBER 2.00 X 0 0 0 LUKE FELKER BOARD MEMBER 2.00 X 0 0 0 JOYDEEP GANGULY BOARD MEMBER 2.00 X 0 0 0 CHARLOTTE GIOVANNI BOARD MEMBER 2.00 X 0 0 0 ALLYSON LETTERI BOARD MEMBER 2.00 X 0 0 0 KEVIN MARCHETTI BOARD MEMBER 2.00 X 0 0 0 VIJAY MOHAN BOARD MEMBER 2.00 X 0 0 0 TAYLOR NAGLE BOARD MEMBER 2.00 X 0 0 0 JULIA PAIGE BOARD MEMBER 2.00 X 0 0 0 MIHIR SHAH BOARD MEMBER 2.00 X 0 0 0 ALEX SLUSKY BOARD MEMBER 2.00 X 0 0 0 ANDREW SPARKS BOARD MEMBER 2.00 X 0 0 0 CHRISTINA TRUJILLO-AYOUB BOARD MEMBER 2.00 X 0 0 0 GREG VAISBERG BOARD MEMBER 2.00 X 0 0 0 JULIA WONG BOARD MEMBER 2.00 X 0 0 0 LORRI HAMILTON DURBIN HEAD OF SCHOOL 60.00 X 647778 0 52761 KARY NORTON CHIEF FINANCIAL OFFICER 60.00 X 282588 0 47082 MARGARET LAURENT HEAD OF LOWER SCHOOL 60.00 X 226103 0 40097 TALIB MANDAN HEAD OF UPPER SCHOOL-ENDED 12/2024 60.00 X 227178 0 32318 MONA CHANG DIRECTOR OF ADVANCEMENT 60.00 X 215650 0 32964 CORBETT SIMONS DIR. OF TEACHING, LEARNING & INNOV. 60.00 X 230748 0 32319 JENNIFER LIU DIR. OF TEACHER DEV. & STRAT. INIT. 60.00 X 185870 0 36327 CURTIS GOEHRING DIRECTOR OF ATHLETICS 40.00 X 188770 0 33108 REGINALD LOVE PHYSICAL EDUCATION TEACHER 40.00 X 194294 0 27537 SARAH BROOKE JENKINS DIRECTOR OF ADMISSION & FIN. ASSIST. 40.00 X 185727 0 34657 2584706 0 369170 69 0 1 0 ACRE REAL SCHOOL LUNCH PO BOX 29116 SAN FRANCISCO CA 94129 FOOD SERVICES 1225635 PLANT CONSTRUCTION COMPANY LP 300 NEWHALL ST SAN FRANCISCO CA 94124 CONSTRUCTION SERVICES 691490 CLAYTON TIMBRELL & CO 1033 POLK STREET SAN FRANCISCO CA 94109 CONSTRUCTION SERVICES 472574 HINES BUILDING MAINTENANCE 91 LOST LAKE LANE CAMPBELL CA 95008 JANITORIAL SERVICES 389338 CYO TRANSPORTATION 699 SERRAMONTE BLVD DALY CITY CA 94015 TRANSPORTATION SERVICES 113344 5 11386390 11386390 TUITION & PARENT ASSOC 611600 21129399 21129399 21129399 1531027 1531027 33700 238984 -205284 -205284 -205284 7774372 6503067 15489 1271305 -15489 1255816 1255816 49406 34789 14617 14617 35111965 21129399 0 2596176 2832524 2832524 1787867 690566 617831 479470 11554699 10406555 529929 618215 995930 891216 48099 56615 1360313 1175626 88705 95982 995034 834211 81499 79324 117724 117724 61915 61915 79582 79582 1014391 678647 65592 270152 507243 335560 50877 120806 323894 286833 18263 18798 1109772 978224 64853 66695 293120 255895 20455 16770 1681830 1473694 102566 105570 307625 269947 18686 18992 LUNCH PROGRAM 1251372 1223647 13663 14062 SCHOOL WIDE CURRICULUM 468548 468548 ATHLETIC EXPENSE 388928 388928 AUXILIARY EXPENSE 214628 214628 259224 90037 12129 157058 27606163 23495286 1992368 2118509 3695772 2757757 3529363 2974832 15586567 16609628 1112464 1096975 339420 374096 61803612 23554148 39189831 38249464 42223541 55122580 259524 246048 105936482 117431380 1525737 1735233 17544380 18342512 9891794 9895955 248714 234896 29210625 30208596 X 45235672 45696609 31490185 41526175 76725857 87222784 105936482 117431380 7505802 2991125 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 23434893 517336 4035806 933755 27054280 20956507 755000 2681014 957628 23434893 19902150 5500 2046870 998013 20956507 24407709 100000 -3883843 721716 19902150 19600560 5351344 544195 24407709 0.00000 0.59579 0.40421 0 0 40000 40000 54568015 19806153 34761862 7195597 3747995 3447602 38249464 FIXED INCOME FUNDS 23382173 F DOMESTIC STOCK FUNDS 20673485 F INTERNATIONAL STOCK FUNDS 11066922 F 55122580 OPERATING LEASE LIABILITIES 234896 234896 X PART V, LINE 4: THE SCHOOL'S ENDOWMENT FUNDS (THE "FUND") CONSIST OF RESTRICTED FUNDS TO BE HELD IN PERPETUITY AS WELL AS ASSOCIATED UNAPPROPRIATED INVESTMENT EARNINGS AND ARE CLASSIFIED AS NET ASSETS WITH DONOR RESTRICTIONS. THE FUND DOES NOT HAVE ANY BOARD DESIGNATED ENDOWMENT FUNDS. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER THE INTERNAL REVENUE CODE SECTION 501(C)(3) AND BY THE CALIFORNIA REVENUE AND TAXATION CODE 23701D. ACCORDINGLY, THE SCHOOL HAS NOT PROVIDED FOR INCOME TAXES IN THESE CONSOLIDATED FINANCIAL STATEMENTS. TOWN SCHOOL PROPERTIES, LLC IS A PASS-THROUGH ENTITY FOR INCOME TAX REPORTING PURPOSES AND, ACCORDINGLY, DOES NOT PAY TAX ON ITS INCOME. INSTEAD, INCOME OR LOSS IS REPORTED ON THE TAX RETURNS OF THE SCHOOL. THE ENTITY IS SUBJECT TO A MINIMUM FRANCHISE TAX FOR THE STATE OF CALIFORNIA. EACH YEAR, MANAGEMENT CONSIDERS WHETHER ANY MATERIAL TAX POSITION THE SCHOOL HAS TAKEN IS MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAXING AUTHORITY. MANAGEMENT BELIEVES THAT ANY POSITIONS THE ORGANIZATION HAS TAKEN ARE SUPPORTED BY SUBSTANTIAL AUTHORITY, AND HENCE, DO NOT NEED TO BE MEASURED OR DISCLOSED IN THESE CONSOLIDATED FINANCIAL STATEMENTS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 WE ARE NOW ALLOWED TO PUBLISH OUR RACIALLY NONDISCRIMINATORY POLICY ON OUR PRIMARY PUBLICLY ACCESSIBLE INTERNET HOMEPAGE AT ALL TIMES DURING ITS TAXABLE YEAR IN A MANNER REASONABLY EXPECTED TO BE NOTICED BY VISITORS TO THE HOMEPAGE. THE NOTICE CANNOT BE BEHIND A PASSWORD OR PAYWALL, AND IT MUST BE ON THE PRIMARY LANDING PAGE. 1 FINANCIAL ASSISTANCE 81 2832524 PART I, LINE 2: TO QUALIFY FOR FINANCIAL ASSISTANCE, FAMILIES NEED TO COMPLETE THE PARENTS' APPLICATION AND SUBMIT IT, WITH SUPPLEMENTAL INFORMATION, TO CLARITY, AN INDEPENDENT NATIONAL AGENCY THAT EVALUATES A FAMILY'S ABILITY TO AFFORD INDEPENDENT SCHOOL EDUCATION. THE SCHOOL'S FINANCIAL ASSISTANCE COMMITTEE (COMPRISED OF THE HEAD OF SCHOOL; CFO; THE DIRECTOR OF ADMISSION AND FINANCIAL ASSISTANCE; AND THE DIRECTOR OF COMMUNITY BUILDING AND INCLUSION), WILL REVIEW THE FAMILY'S APPLICATION AND CLARITY'S RECOMMENDATION TO DETERMINE IF AND AT WHAT LEVEL FINANCIAL ASSISTANCE IS APPROPRIATE. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 LORRI HAMILTON DURBIN HEAD OF SCHOOL 634196 0 0 0 13582 0 34500 0 18261 0 700539 0 0 0 KARY NORTON CHIEF FINANCIAL OFFICER 282588 0 0 0 0 0 28214 0 18868 0 329670 0 0 0 MARGARET LAURENT HEAD OF LOWER SCHOOL 226103 0 0 0 0 0 22365 0 17732 0 266200 0 0 0 CORBETT SIMONS DIR. OF TEACHING, LEARNING & INNOV. 230748 0 0 0 0 0 20875 0 11444 0 263067 0 0 0 TALIB MANDAN HEAD OF UPPER SCHOOL-ENDED 12/2024 227178 0 0 0 0 0 20400 0 11918 0 259496 0 0 0 MONA CHANG DIRECTOR OF ADVANCEMENT 215650 0 0 0 0 0 21520 0 11444 0 248614 0 0 0 JENNIFER LIU DIR. OF TEACHER DEV. & STRAT. INIT. 185870 0 0 0 0 0 18542 0 17785 0 222197 0 0 0 CURTIS GOEHRING DIRECTOR OF ATHLETICS 188770 0 0 0 0 0 15402 0 17706 0 221878 0 0 0 REGINALD LOVE PHYSICAL EDUCATION TEACHER 194294 0 0 0 0 0 16132 0 11405 0 221831 0 0 0 SARAH BROOKE JENKINS DIRECTOR OF ADMISSION & FIN. ASSIST. 185727 0 0 0 0 0 16902 0 17755 0 220384 0 0 0 PART I, LINE 1A AS PART OF THE CURRENT HEAD OF SCHOOL CONTRACT, HOUSING AND TAXES ON THIS BENEFIT ARE PROVIDED AND ARE REPORTED AS TAXABLE COMPENSATION TO THE HEAD OF SCHOOL. A CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 680164610 2020-08-21 10000000 TO REFUND PRIOR ISSUE 0 0 0 A 10000000 10000000 1 0 1 1 A 0 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 FORM 990, PART VI, SECTION B, LINE 11B BY RESOLUTION OF THE BOARD OF DIRECTORS, THE AUDIT COMMITTEE OF THE BOARD REVIEWS THE TAX RETURN WITH THE AUDITOR ON BEHALF OF THE BOARD. THE CHAIR OF THE AUDIT COMMITTEE MAKES A COPY OF THE 990 (WITH REDACTED SCHEDULE B) AVAILABLE TO THE ENTIRE BOARD AND RESPONDS TO QUESTIONS FROM THE BOARD REGARDING THE 990. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, ALL TRUSTEES ARE PROVIDED A COPY OF THE CONFLICT OF INTEREST DISCLOSURE STATEMENT. THIS DISCLOSURE STATEMENT MUST BE COMPLETED AND RETURNED TO THE CHAIR OF THE COMMITTEE OF TRUSTEES BY OCTOBER 1 OF EACH YEAR FOR REVIEW BY THE EXECUTIVE COMMITTEE. SHOULD A MEMBER OF THE EXECUTIVE COMMITTEE BE THE SUBJECT OF A POSSIBLE CONFLICT OF INTEREST, THAT MEMBER WILL EXCUSE HIMSELF/HERSELF FROM THE ROOM DURING COMMITTEE DISCUSSION AND ANY VOTING REGARDING THAT CONFLICT. ALL NEW TRUSTEES MUST COMPLETE THE DISCLOSURE STATEMENT PRIOR TO ASSUMING THEIR DUTIES FOR THE SCHOOL. THE EXECUTIVE COMMITTEE SUBMITS AN ANNUAL CONFIDENTIAL REPORT TO THE BOARD OF TRUSTEES REGARDING ANY TRUSTEE CONFLICTS OF INTEREST AND THEIR RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING THE APPROPRIATE COMPENSATION FOR THE HEAD OF SCHOOL BEGINS WITH A REQUEST FROM THE COMPENSATION COMMITTEE OF THE BOARD FOR A CUSTOM BENCHMARK STUDY FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS) FOR COMPENSATION DATA FROM MEMBER SCHOOLS OF NAIS AND THE CALIFORNIA ASSOCIATION OF INDEPENDENT SCHOOLS (CAIS). IN ADDITION, THE CUSTOM STUDY INCLUDES A GROUP OF UP TO 15 LEADING INDEPENDENT SCHOOLS LOCATED IN HIGH COST-OF-LIVING COMMUNITIES. THE COMPENSATION COMMITTEE ANALYZES THIS DATA TO DETERMINE THE APPROPRIATE COMPENSATION PACKAGE FOR THE HEAD OF SCHOOL. FOR THE COMPENSATION FOR OTHER KEY EMPLOYEES, THE HEAD OF SCHOOL REVIEWS DATA ANNUALLY FROM THE STATISTICS PRODUCED BY BOTH CAIS AND THE INDEPENDENT SCHOOLS BUSINESS OFFICERS ASSOCIATION (CAL-ISBOA) FOR COMPENSATION DATA FOR SIMILARLY QUALIFIED PERSONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII, SECTION A - COLUMN (D): INCLUDES CONTRACT PAY PLUS ANY COMPENSATION FOR ADDITIONAL ROLES OUTSIDE OF THE EMPLOYEES CONTRACT SUCH AS COACHING, CAMPS, SERVING ON A COMMITTEE, ETC. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. TOWN SCHOOL PROPERTIES LLC 2750 JACKSON STREET SAN FRANCISCO CA 94115 941170412 OWNERSHIP ENTITY OF SCHOOL-OWNED PROPERTIES CA 75581 4248543 TOWN SCHOOL FOR BOYS