2026-05-12T10:00:59-05:00 2025-06-30 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2024-07-01 221487252 MORRISTOWN-BEARD SCHOOL MORR 9735393032 70 WHIPPANY ROAD MORRISTOWN NJ 07960 MATT WHITFORD CFO 9735393032 2026-05-12 1 1 MELISSA MODELSON P01603524 9143818900 2026-05-06 2024 2025-03-06 01:10:19Z PHILICIA G LEVINSON 70 WHIPPANY ROAD MORRISTOWN NJ 07960 41628496 0 X WWW.MBS.NET X 1939 NJ THE SCHOOL IS AN EDUCATIONAL COLLEGE PREPARATORY SCHOOL IN GRADES 6 TO 12. 18 16 359 120 43184 40684 1534560 5971532 32179478 34178857 942293 1253763 37350 51190 34693681 41455342 4011405 4576895 0 0 21164168 22707463 7949 0 1295588 10487615 10436763 35671137 37721121 -977456 3734221 76540014 84170096 6843481 7457705 69696533 76712391 MORRISTOWN BEARD SCHOOL IS AN EDUCATIONAL COLLEGE PREPARATORY SCHOOL IN GRADES 6 TO 12 LOCATED IN MORRISTOWN, NEW JERSEY. 0 0 28423694 4576895 34173692 MORRISTOWN BEARD SCHOOL IS AN INDEPENDENT, COEDUCATIONAL DAY SCHOOL SERVING STUDENTS FROM MORE THAN 85 COMMUNITIES AND NINE COUNTIES IN NORTHERN NEW JERSEY. THERE ARE 600 STUDENTS IN GRADES 6-12, WITH AN UPPER SCHOOL ENROLLMENT OF 460 AND MIDDLE SCHOOL OF 140. STUDENTS LEAVE MBS EXCEEDINGLY WELL PREPARED FOR THE CHALLENGES OF COLLEGE AND UNIVERSITY STUDIES. THEIR SKILLS IN CRITICAL THINKING, WRITING, AND TIME MANAGEMENT SET THEM APART AMONG ENTERING COLLEGE STUDENTS, WHILE THE QUALITIES OF MIND THEY DEVELOP HERE POSITION THEM FOR SUCCESS LONG AFTER COLLEGE. THESE STRENGTHS FROM COMMUNICATION AND COLLABORATION TO THE ABILITY TO SOLVE COMPLEX, OPEN-ENDED PROBLEMS LEAD NEARLY EVERY LIST OF CAPABILITIES FOR 21ST-CENTURY SUCCESS. 28423694 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 61 0 359 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 18 16 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X PHILICIA G LEVINSON 9735393032 70 WHIPPANY ROAD MORRISTOWN NJ 07960 ELIZABETH MORRISON HEAD OF SCHOOL THRU JUNE 2025 55.00 X X 500064 0 573365 RAVI CHOPRA CO-PRESIDENT 0.50 X X 0 0 0 CARISA STRAUSS CO-PRESIDENT 0.50 X X 0 0 0 DARNELL PARKER VICE PRESIDENT 0.50 X X 0 0 0 LEE KELLOGG SADRIAN VICE PRESIDENT 0.50 X X 0 0 0 MICHAEL MORAIS VICE PRESIDENT 0.50 X X 0 0 0 R CARTWRIGHT WALLACE TREASURER 0.50 X X 0 0 0 PAMELA NELSON-DAVIDSON SECRETARY 0.50 X X 0 0 0 LISSA FERRELL TRUSTEE 0.50 X 0 0 0 PETER FIVERSON TRUSTEE 0.50 X 0 0 0 SHANAE GREEN TRUSTEE 0.50 X 0 0 0 DAVID MCMANUS TRUSTEE 0.50 X 0 0 0 ALEX RANGER TRUSTEE 0.50 X 0 0 0 BRUCE SANFORD TRUSTEE 0.50 X 0 0 0 LARRY SHERMAN TRUSTEE 0.50 X 0 0 0 MARGARET SMITH TRUSTEE 0.50 X 0 0 0 ERIC SOOS TRUSTEE 0.50 X 0 0 0 SCOTT TANNEN TRUSTEE 0.50 X 0 0 0 RICHARD KASMIN CFO, THRU 8/14/24 55.00 X 112080 0 9559 CHANCE VAN SCIVER CFO 55.00 X 77511 0 4087 ELIZABETH PATTERSON DIRECTOR OF ADVANCEMENT 55.00 X 236847 0 36152 BONI LUNA DEAN OF FACULTY 55.00 X 197660 0 32122 RYAN LIESE HEAD OF UPPER SCHOOL 55.00 X 192992 0 69061 ALONDA CASSELLE HEAD OF MIDDLE SCHOOL 55.00 X 162830 0 69793 ROBERT MITCHELL DIRECTOR OF ADMISSION 55.00 X 161026 0 19148 PAUL FISHER TECHNOLOGY TEACHER 55.00 X 151616 0 44076 KLARISSA KAROSEN DIRECTOR OF DEI 55.00 X 148740 0 103354 1941366 0 960717 47 0 1 0 FLIK INDEPENDENT SCHOOLS 3 INTERNATIONAL DR 3RD FL RYE BROOK NY 10573 CAFETERIA SERVICE 1531479 DSG SERVICES PO BOX 2064 MORRISTOWN NJ 07962 CLEANING SERVICES 687098 BELAIR TRANSPORT 641 TREMONT AVENUE ORANGE NJ 07050 STUDENT BUS TRANSPORTATION 312248 AMAZON CONTRACTOR 806 STATE RT 57 STEWARTSVILLE NJ 08886 CONSTRUCTION 264655 GLOBAL SHEET METAL 327 FRANKLIN AVE NUTLEY NJ 07110 REPAIRS AND MAINTENANCE 197204 6 45469 5926063 255887 5971532 TUITION AND FEES 611110 31796796 31796796 AUXILIARY REVENUE 611110 1845717 1845717 CLUB & ACTIVITY FEES 611110 536344 536344 34178857 1253790 43184 1210606 100000 100027 -27 -27 -27 115328 45469 67962 47366 47366 2250 0 2250 2250 5165 -5165 -5165 MISCELLANEOUS REVENUE 900099 6739 6739 6739 41455342 34173692 43184 1266934 4576895 4576895 1973278 424537 1411176 137565 15211279 11909292 2460570 841417 969554 797419 115057 57078 3208400 2585979 473080 149341 1344952 1034256 236849 73847 42472 42472 88650 88650 42184 42184 953908 621140 332768 136307 5882 130425 778954 457656 321298 719927 194683 525244 523875 394303 129572 591194 489256 101938 114393 56841 57552 6117 6117 2392197 1794148 598049 394745 54240 340505 UNRELATED BUSINESS INCO 30961 30961 EVENTS AND PROGRAMS 1359860 909688 450172 FOOD AND DINING 1329018 1329018 REPAIRS AND MAINTENANCE 361950 289231 72719 570051 493113 40598 36340 37721121 28423694 8001839 1295588 257793 2485118 5266572 6525027 333673 709745 344538 401201 63255 55704 82285 47975 78178586 38828957 40146687 39349629 28749097 33418332 809100 809100 487014 368265 76540014 84170096 2241389 2922439 4299266 4458411 302826 76855 6843481 7457705 X 43788035 44111193 25908498 32601198 69696533 76712391 76540014 84170096 X 3734221 3148852 132785 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 28687441 804319 3994210 454750 33031220 25219866 36450 3837266 406141 28687441 23154970 65077 2452751 452932 25219866 23636420 3007323 -3173685 315088 23154970 15716073 3190207 4902590 150000 22450 23636420 0.13271 0.37366 0.49363 0 0 1560691 1560691 72876215 36703098 36173117 2600893 1734751 866142 1140787 391108 749679 39349629 X 39482571 3148852 214771 3363623 36118948 42184 5294210 5336394 41455342 32466713 81986 81986 32384727 42184 5294210 5336394 37721121 PART V, LINE 4: THE SCHOOL'S ENDOWMENT FUND CONSISTS OF SEVERAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES, INCLUDING SUPPORT FOR THE FACULTY, SCHOLARSHIPS FOR STUDENTS, AND SUPPORT FOR CAPITAL EXPENDITURES. THE FUNDS ARE RESTRICTED BY DONORS. PART X, LINE 2: THE SCHOOL RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE SCHOOL HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE SCHOOL IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO JUNE 30, 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES NETTED AGAINST REVENUE 67,961. RECLASS COST OF GOODS SOLD TO PART VIII, LINE 10B 5,165. PARTNERSHIP DISTRIBUTION 141,645. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID & TUITION REMISSION RECLASSED TO PART IX 5,262,173. IMPAIRMENT OF CONSTRUCTION IN PROGRESS 32,037. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES NETTED AGAINST REVENUE 67,961. RECLASS PLEDGES RECEIVABLE WRITE-OFF TO PART XI 8,860. RECLASS COST OF GOODS SOLD TO PART VIII, LINE 10B 5,165. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID & TUITION REMISSION RECLASSED TO PART IX 5,262,173. IMPAIRMENT OF CONSTRUCTION IN PROGRESS 32,037. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 A STATEMENT OF NON-DISCRIMINATION IS INCLUDED IN THE SCHOOL'S ADVERTISING MATERIALS AND ITS WEBSITE HOMEPAGE. THE SCHOOL PARTICIPATES IN THE NJAIS NON-DISCRIMINATION POLICY ADVERTISEMENT WHICH INCLUDES THE POLICY IN A LOCAL SCHOOL ADVERTISEMENT. GALA 160797 45469 115328 51433 9774 6755 160797 45469 115328 51433 9774 6755 67962 47366 1 FINANCIAL AID 185 4576895 PART I, LINE 2: THE PARENTS APPLY FOR FINANCIAL AID ON THE WEBSITE THROUGH A LINK TO CLARITY. BASED ON THE NUMBERS PROVIDED, THEY DETERMINE IF THERE IS FINANCIAL NEED, AS WELL A SUGGESTED AMOUNT TO AWARD. THE FINAL DETERMINATION IS UP TO THE FINANIAL AID COMMITTEE. THE ONLY EXCEPTION IS THE FAMILIES RECEIVING A MERIT SCHOLARSHIP DO NOT NEED TO APPLY FOR FINANCIAL AID. AS FAR AS FACULTY/REMISSION, THE ONE CRITERIA IS THAT YOU MUST BE EMPLOYED FOR AT LEAST 1 YEAR IN ORDER TO QUALITY. AFTER THAT, IT IS AN AUTOMATIC AWARD FOR MIDDLE SCHOOL AND UPPER SCHOOL. SHOULD AN EMPLOYEE WANT TO FURTHER APPLY FOR FINANCIAL AID, THEY GO THROUGH THE SAME PROCESS AS THE PARENTS DO THROUGH CLARITY. ONCE THE FINANCIAL AID COMMITTEE DETERMINES THE AWARDS, THEY ARE INCORPORATED INTO THE CONTRACT. THE AWARD IS THEN POSTED DIRECTLY TO THE STUDENTS' ACCOUNTS IN JULY WHEN WE TURN OVER ANOTHER ACADEMIC SCHOOL YEAR. X 1 0 X X X X 0 0 0 0 0 0 0 0 0 ELIZABETH MORRISON HEAD OF SCHOOL THRU JUNE 2025 433458 0 0 0 66606 0 541017 0 32348 0 1073429 0 0 0 ELIZABETH PATTERSON DIRECTOR OF ADVANCEMENT 235461 0 0 0 1386 0 23730 0 12422 0 272999 0 0 0 RYAN LIESE HEAD OF UPPER SCHOOL 192579 0 0 0 413 0 9856 0 59205 0 262053 0 0 0 KLARISSA KAROSEN DIRECTOR OF DEI 148433 0 0 0 307 0 11479 0 91875 0 252094 0 0 0 ALONDA CASSELLE HEAD OF MIDDLE SCHOOL 162500 0 0 0 330 0 8125 0 61668 0 232623 0 0 0 BONI LUNA DEAN OF FACULTY 194936 0 0 0 2724 0 19700 0 12422 0 229782 0 0 0 PAUL FISHER TECHNOLOGY TEACHER 149284 0 0 0 2332 0 15410 0 28666 0 195692 0 0 0 ROBERT MITCHELL DIRECTOR OF ADMISSION 160304 0 0 0 722 0 16080 0 3068 0 180174 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL IS PROVIDED WITH A HOUSING ALLOWANCE TO ENABLE THEM TO LIVE IN CLOSE ENOUGH PROXIMITY TO THE SCHOOL TO BE AVAILABLE IN AT VARIOUS TIMES OF THE DAY AND NIGHT, AND TO MEET WITH PROSPECTIVE STUDENTS, FAMILIES, AND DONORS. THE VALUE OF THE HOUSING ALLOWANCE IS TAXABLE AND REPORTED ON THEIR W-2. A PUBLIC FINANCE AUTHORITY 273866124 000000000 2015-10-06 9000000 REFINANCE PRIOR ISSUE FROM 2007, CONSTRUCTION OF MATH & SCIENCE BUILDING 0 0 0 A 8923250 9000000 7000000 2000000 2015 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 0 0 0 0 0 A 0 45263 FINANCIAL AID DISCOUNTED TUITION X 8 215049 AVG. SELLING PRICE X GIFT CARDS 29 21140 COST X VARIOUS TICKETS 14 16760 COST X AUCTION ITEMS 7 2938 COST 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS IN PART I, COLUMN (B). FORM 990, PART VI, SECTION B, LINE 11B MORRISTOWN BEARD SCHOOL HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY THE HEAD OF SCHOOL AND CFO AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, A REDACTED RETURN (REMOVAL OF SCHEDULE B) IS ELECTRONICALLY SENT TO THE BOARD OF TRUSTEES IN ADVANCE OF A BOARD MEETING. AT THAT MEETING, THE CHIEF FINANCIAL OFFICER SUMMARIZES THE KEY HIGHLIGHTS OF THE FORM 990 AND ANSWERS ANY QUESTIONS PRIOR TO THE TRUSTEES VOTING TO APPROVE THE FILING OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT IS REGULARLY AND CONSISTENTLY MONITORED AND ENFORCED. THE PURPOSE OF THIS CONFIDENTIALITY AND CONFLICT OF INTEREST POLICY ("POLICY") IS TO PROTECT MORRISTOWN BEARD SCHOOL'S ("SCHOOL") INTERESTS WHEN IT IS CONTEMPLATING ENTERING INTO A TRANSACTION OR ARRANGEMENT THAT MIGHT BENEFIT THE PRIVATE INTEREST OF AN OFFICER OR DIRECTOR OF THE SCHOOL, OR MIGHT RESULT IN A POSSIBLE EXCESS BENEFIT TRANSACTION. AN "INTERESTED PERSON" IS ANY DIRECTOR, PRINCIPAL OFFICER, KEY EMPLOYEE OR MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS, WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST. ANNUALLY, EACH INTERESTED PERSON MUST COMPLETE A CONFLICT OF INTEREST STATEMENT TO DISCLOSE ANY POTENTIAL CONFLICTS. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON IS GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION COMMITTEE OF THE BOARD USES AVAILABLE COMPENSATION STUDIES, BENCHMARKING DATA FROM RELEVANT INDUSTRY ASSOCIATIONS, AS WELL AS COMPARATIVE SCHOOL DATA GLEANED FROM FORM 990S TO DETERMINE THE SALARY FOR THE HEAD OF SCHOOL. THE BOARD OF TRUSTEES APPOINTS A TRUSTEE TO LEAD THE SEARCH COMMITTEE. THE HEAD OF SCHOOL COMPENSATION IS APPROVED BY THE BOARD. THE SCHOOL IS CURRENTLY IN THE PROCESS OF CONDUCTING A SEARCH FOR THE NEXT HEAD OF SCHOOL AND WILL DETERMINE THEIR COMPENSATION IN ACCORDANCE WITH THE PROCESS DESCRIBED IN THIS SECTION. COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED BY THE HEAD OF SCHOOL IN CONSULTATION WITH THE CHIEF FINANCIAL OFFICER, USING AVAILABLE COMPENSATION STUDIES, BENCHMARKING DATA FROM RELEVANT INDUSTRY ASSOCIATIONS, AS WELL AS COMPARATIVE SCHOOL DATA GLEANED FROM FORM 990S. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. FORM 990, PART XI, LINE 9: UNCOLLECTIBLE PLEDGES WRITE-OFF -8,860. PARTNERSHIP DISTRIBUTION 141,645. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.