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Financial aid is based solely upon need. The School utilizes an independent outside service bureau to help determine a family's ability to pay school costs. This service and process helps ensure that the School uses the same methods and objective procedures as other schools in evaluating an applicant's application. Employee dependents are exempt from this process and receive 100% financial aid. Total financial aid is approved by the Board of Trustees. The Head of School approves all individual financial aid recipients."}],"grant_monitoring":{"claims_monitoring_procedures":true,"requires_financial_reports":false,"requires_narrative_reports":false,"conducts_site_visits":false,"conducts_field_audits":false,"requires_grant_agreements":false,"may_suspend_future_funding":false,"may_require_repayment":false,"monitoring_description":"The School monitors the use of financial assistance funds by directly applying awards/grants to the student bills as an offset to billed tuitions. 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THE SCHOOL IS A MEMBER OF THE ASSOCIATION OF INDEPENDENT SCHOOLS OF NEW ENGLAND (AISNE). AISNE ANNUALLY PUBLISHES A RACIALLY NONDISCRIMINATORY POLICY IN VARIOUS NEWSPAPERS THROUGHOUT NEW ENGLAND FOR ITS MEMBERS."}]},"ScheduleI":{"grant_records_maintained":true,"reported_domestic_individual_grants":5695884,"reported_domestic_individual_grants_program_services":5695884,"individual_grants":[{"type":"FINANCIAL AID","recipient_count":107,"cash":5695884}],"total_domestic_grants":5695884,"total_domestic_program_services":5695884,"detail_individual_grants_total":5695884,"detail_domestic_grants_total":5695884,"supplemental_information":[{"form_and_line_reference":"PART I, LINE 2:","explanation":"THE SCHOOL MONITORS THE USE OF FINANCIAL ASSISTANCE FUNDS BY DIRECTLY APPLYING AWARDS/GRANTS TO THE STUDENT BILLS AS AN OFFSET TO BILLED TUITIONS. NO MONEY EVER PHYSICALLY EXCHANGES HANDS BETWEEN THE SCHOOL AND THE RECIPIENT. THUS, THE GENERAL LEDGER MUST BE IN SYNC WITH THE AWARDS LIST AT ALL TIMES. FINANCIAL AID IS BASED SOLELY UPON NEED. THE SCHOOL UTILIZES AN INDEPENDENT OUTSIDE SERVICE BUREAU TO HELP DETERMINE A FAMILY'S ABILITY TO PAY SCHOOL COSTS. THIS SERVICE AND PROCESS HELPS ENSURE THAT THE SCHOOL USES THE SAME METHODS AND OBJECTIVE PROCEDURES AS OTHER SCHOOLS IN EVALUATING AN APPLICANT'S APPLICATION. EMPLOYEE DEPENDENTS ARE EXEMPT FROM THIS PROCESS AND RECEIVE 100% FINANCIAL AID. TOTAL FINANCIAL AID IS APPROVED BY THE BOARD OF TRUSTEES. THE HEAD OF SCHOOL APPROVES ALL INDIVIDUAL FINANCIAL AID RECIPIENTS."}],"grant_monitoring":{"claims_monitoring_procedures":true,"requires_financial_reports":false,"requires_narrative_reports":false,"conducts_site_visits":false,"conducts_field_audits":false,"requires_grant_agreements":false,"may_suspend_future_funding":false,"may_require_repayment":false,"monitoring_description":"THE SCHOOL MONITORS THE USE OF FINANCIAL ASSISTANCE FUNDS BY DIRECTLY APPLYING AWARDS/GRANTS TO THE STUDENT BILLS AS AN OFFSET TO BILLED TUITIONS. 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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 LESS THE OUTSTANDING BALANCE OF BONDS PAYABLE 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 REALIZED 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."},{"form_and_line_reference":"PART X, LINE 2:","explanation":"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."},{"form_and_line_reference":"PART XI, LINE 2D - OTHER ADJUSTMENTS:","explanation":"INVENTORY COST OF SALES 185,080."},{"form_and_line_reference":"PART XI, LINE 4B - OTHER ADJUSTMENTS:","explanation":"FINANCIAL AID 5,701,699. UNRELATED BUSINESS INCOME TAX 60,250."},{"form_and_line_reference":"PART XII, LINE 2D - OTHER ADJUSTMENTS:","explanation":"INVENTORY COST OF SALES 185,080."},{"form_and_line_reference":"PART XII, LINE 4B - OTHER ADJUSTMENTS:","explanation":"FINANCIAL AID 5,701,699. UNRELATED BUSINESS INCOME TAX 60,250."}]},"ScheduleE":{"policies":{"nondiscriminatory_policy_statement":true,"policy_statement_in_brochures":true,"policy_publicized_broadcast_media":true},"records":{"maintain_racial_composition_records":true,"maintain_scholarship_records":true,"maintain_copies_brochures":true,"maintain_copies_solicitations":true},"discrimination":{"students_rights_or_privileges":false,"admissions_policies":false,"employment_faculty_or_staff":false,"scholarships_or_financial_aid":false,"educational_policies":false,"use_of_facilities":false,"athletic_programs":false,"other_extracurricular_activities":false},"government_aid":{"received_government_financial_aid":false,"government_financial_aid_revoked":false},"compliance":{"compliance_with_rev_proc_75_50":true},"supplemental_information":[{"form_and_line_reference":"SCHEDULE E, PART I, LINE 3","explanation":"RACIALLY NONDISCRIMINATORY POLICY IS INCLUDED IN ALL COMMUNICATIONS TO THE COMMUNITY. THE SCHOOL IS A MEMBER OF THE ASSOCIATION OF INDEPENDENT SCHOOLS OF NEW ENGLAND (AISNE). AISNE ANNUALLY PUBLISHES A RACIALLY NONDISCRIMINATORY POLICY IN VARIOUS NEWSPAPERS THROUGHOUT NEW ENGLAND FOR ITS MEMBERS."}]},"ScheduleI":{"grant_records_maintained":true,"reported_domestic_individual_grants":5701699,"reported_domestic_individual_grants_program_services":5701699,"individual_grants":[{"type":"FINANCIAL AID","recipient_count":100,"cash":5701699}],"total_domestic_grants":5701699,"total_domestic_program_services":5701699,"detail_individual_grants_total":5701699,"detail_domestic_grants_total":5701699,"supplemental_information":[{"form_and_line_reference":"PART I, LINE 2:","explanation":"THE SCHOOL MONITORS THE USE OF FINANCIAL ASSISTANCE FUNDS BY DIRECTLY APPLYING AWARDS/GRANTS TO THE STUDENT BILLS AS AN OFFSET TO BILLED TUITIONS. NO MONEY EVER PHYSICALLY EXCHANGES HANDS BETWEEN THE SCHOOL AND THE RECIPIENT. THUS, THE GENERAL LEDGER MUST BE IN SYNC WITH THE AWARDS LIST AT ALL TIMES. FINANCIAL AID IS BASED SOLELY UPON NEED. THE SCHOOL UTILIZES AN INDEPENDENT OUTSIDE SERVICE BUREAU TO HELP DETERMINE A FAMILY'S ABILITY TO PAY SCHOOL COSTS. THIS SERVICE AND PROCESS HELPS ENSURE THAT THE SCHOOL USES THE SAME METHODS AND OBJECTIVE PROCEDURES AS OTHER SCHOOLS IN EVALUATING AN APPLICANT'S APPLICATION. EMPLOYEE DEPENDENTS ARE EXEMPT FROM THIS PROCESS AND RECEIVE 100% FINANCIAL AID. TOTAL FINANCIAL AID IS APPROVED BY THE BOARD OF TRUSTEES. THE HEAD OF SCHOOL APPROVES ALL INDIVIDUAL FINANCIAL AID RECIPIENTS."}],"grant_monitoring":{"claims_monitoring_procedures":true,"requires_financial_reports":false,"requires_narrative_reports":false,"conducts_site_visits":false,"conducts_field_audits":false,"requires_grant_agreements":false,"may_suspend_future_funding":false,"may_require_repayment":false,"monitoring_description":"THE SCHOOL MONITORS THE USE OF FINANCIAL ASSISTANCE FUNDS BY DIRECTLY APPLYING AWARDS/GRANTS TO THE STUDENT BILLS AS AN OFFSET TO BILLED TUITIONS. NO MONEY EVER PHYSICALLY EXCHANGES HANDS BETWEEN THE SCHOOL AND THE RECIPIENT. THUS, THE GENERAL LEDGER MUST BE IN SYNC WITH THE AWARDS LIST AT ALL TIMES. FINANCIAL AID IS BASED SOLELY UPON NEED. THE SCHOOL UTILIZES AN INDEPENDENT OUTSIDE SERVICE BUREAU TO HELP DETERMINE A FAMILY'S ABILITY TO PAY SCHOOL COSTS. THIS SERVICE AND PROCESS HELPS ENSURE THAT THE SCHOOL USES THE SAME METHODS AND OBJECTIVE PROCEDURES AS OTHER SCHOOLS IN EVALUATING AN APPLICANT'S APPLICATION. EMPLOYEE DEPENDENTS ARE EXEMPT FROM THIS PROCESS AND RECEIVE 100% FINANCIAL AID. TOTAL FINANCIAL AID IS APPROVED BY THE BOARD OF TRUSTEES. 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BOSTON PRIVATE SERIES HAD AVAILABLE FINANCING FOR CONSTRUCTION TOTALING $6,000,000 IN THE FORM OF A DRAW-DOWN BOND. PROCEEDS DRAWN AS OF 6/30/2023 AMOUNTED TO $5,990,260. PART I COLUMN (A) ROW C - BOSTON PRIVATE SERIES HAD AVAILABLE FINANCING FOR CONSTRUCTION TOTALING $9,400,000 IN THE FORM OF A DRAW-DOWN BOND. PROCEEDS DRAWN AS OF 6/30/2023 AMOUNTED TO $9,400,000."}]},"ScheduleM":{"policies":{"any_property_that_must_be_held":false,"review_process_unusual_noncash_gifts":false,"third_parties_used":false},"noncash_contributions":{"securities_publicly_traded":{"reported":true,"revenue_reported_on_990":960826,"contribution_count":29,"method_of_determining_revenues":"MARKET VALUE"}}},"ScheduleR":{"taxable_partnerships":[{"ein":383971009,"business_name_line1":"SMS INVESTMENTS HOLDINGS LP","primary_activity":"INVESTMENT PORTFOLIO MANAGEMENT","ownership_percentage":1.0,"share_of_total_income":2936669,"legal_domicile_state":"DE","direct_controlling_business_name_line1":"ST MARK'S SCHOOL OF SOUTHBOROUGH INC","address_line1":"550 S TRYON STREET SUITE 3500","city":"CHARLOTTE","state":"NC","zip":"28202","predominant_income_type_text":"INVESTMENT","general_or_managing_partner_indicator":false,"disproportionate_allocations_indicator":false,"ubi_code_v_amount":330039,"name":"SMS INVESTMENTS HOLDINGS LP","address":"550 S TRYON STREET SUITE 3500, CHARLOTTE, NC, 28202"}],"transaction_flags":{"dividends_from_related_organization_indicator":false,"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":false,"loans_or_guarantees_from_other_org":false,"loans_or_guarantees_to_other_org":false,"performance_of_services_by_other_orgs":false,"performance_of_services_for_other_orgs":false,"sharing_of_facilities":false,"sharing_of_paid_employees":false,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":false,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":false,"receipt_of_interest_annuities_rents_royalties":true,"other_transfer_from_other_org":true,"other_transfer_to_other_org":false},"transactions":[{"business_name_line1":"SMS INVESTMENTS HOLDINGS LP","method_of_amount_determination":"K-1","transaction_type":"A","name":"SMS INVESTMENTS HOLDINGS LP"},{"business_name_line1":"SMS INVESTMENTS HOLDINGS LP","method_of_amount_determination":"K-1","transaction_type":"S","name":"SMS INVESTMENTS HOLDINGS LP"}]},"source_xml":"202421369349318222_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"The School's Treasurer, Business Manager and Controller are responsible for overseeing the preparation of IRS Form 990 (990). 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