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Due to a water main break, MSPP is closed Friday, September 19, 2014. All classes and events are cancelled.

MSPP Annual Report

Annual Report

Financial Statement

By the numbes

The following are highlights from the FY2012 audited Financial Statements.

2012 marked an extraordinary year in the history of the school. MSPP signed a 15-year lease with an option to purchase at its new campus in Newton, MA in March 2012. After signing the lease, the school immediately began an $8.3 million renovation project for classroom and office space. To fund the project, MSPP obtained $4.5 million in tax-exempt financing. Here are the details of the financing which closed in April 2012:

$3.5 million tax-exempt bond

  • Amortizes over 10 years
  • Five year fixed rate of 3.28%
  • The bonds are secured by all unrestricted assets of MSPP.

$1.0 million tax-exempt lease

  • Amortizes over five years
  • Five year fixed rate of 2.45%
  • The lease is secured by the equipment financed by the lease.

The move to our new campus was actually more cost-effective than making incremental changes and moves over the next five years. The cost of renovating our new campus was only $10 more per student than the cost of doing a series of incremental changes over the next five years to our old space.

For detailed information about our financial statements, please call Patrick Capobianco, Vice President of Finance & Operations, at 617-327-6777.

 

financial graph

 

Updated 12/5/12

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