2024-02-21T08:48:07-06:00 2023-06-30 010448006 ALBIN RANDALL & BENNETT PO BOX 445 130 MIDDLE STREET PORTLAND ME 041120445 990 2022-07-01 010211565 WAYNFLETE SCHOOL WAYN 2077745721 360 SPRING STREET PORTLAND ME 041023643 TRACI DOWD DIRECTOR OF FINANCE 2077745721 2024-02-09 1 TRACI DOWD 999009999 0 JASON C LEBLANC P01212079 2077721981 2024-02-09 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z GEOFFREY WAGG 360 SPRING STREET PORTLAND ME 041023643 30201560 0 X WWW.WAYNFLETE.ORG X 1935 ME TO OFFER LOWER, MIDDLE AND UPPER SCHOOL EDUCATION WHICH ENGAGES THE IMAGINATION AND INTELLECT OF ITS STUDENTS, GUIDES THEM TOWARDS SELF-GOVERNANCE AND SELF-KNOWLEDGE AND ENCOURAGES THEIR RESPONSIBLE AND CARING PARTICIPATION IN THE WORLD. 22 22 325 50 31192 33844 3292249 4094181 20614024 21615701 1570291 1355264 -17206 -34761 25459358 27030385 5203618 5173046 0 0 12567762 13611124 0 56790 605004 3951998 5224091 21723378 24065051 3735980 2965334 63324930 66669948 23972454 22498317 39352476 44171631 TO OFFER LOWER, MIDDLE AND UPPER SCHOOL EDUCATION WHICH ENGAGES THE IMAGINATION AND INTELLECT OF ITS STUDENTS, GUIDES THEM TOWARDS SELF-GOVERNANCE AND SELF-KNOWLEDGE AND ENCOURAGES THEIR RESPONSIBLE AND CARING PARTICIPATION IN THE WORLD. 0 0 19741834 5173046 21615701 PRIVATE EARLY CHILDHOOD, ELEMENTARY, MIDDLE AND SECONDARY EDUCATION UTILIZED BY APPROXIMATELY 580 STUDENTS. 19741834 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 53 0 1 325 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X TRACI DOWD 2077745721 360 SPRING STREET PORTLAND ME 04102 ARMSTRONG KATHERINE TRUSTEE 2.00 X 0 0 0 ARONSON KRISTA TRUSTEE 2.00 X 0 0 0 CANNING MARIA TRUSTEE 2.00 X 0 0 0 COHEN BRANDON TRUSTEE 2.00 X 0 0 0 DEVINE BEN TRUSTEE 2.00 X 0 0 0 DUFAUCHARD NICOLE TRUSTEE 2.00 X 0 0 0 EDWARDS ADAM TRUSTEE 2.00 X 0 0 0 LI EDWARD TRUSTEE 2.00 X 0 0 0 LOCKHART GIOVANNA GRAY TRUSTEE 2.00 X 0 0 0 PORTA JED TRUSTEE 2.00 X 0 0 0 SCHAIR JUSTIN TRUSTEE 2.00 X 0 0 0 SHINN DEBORAH TRUSTEE 2.00 X 0 0 0 SMITH CHRISTOPHER TRUSTEE 2.00 X 0 0 0 SMITH PEG TRUSTEE 2.00 X 0 0 0 SOLEY TIM MEMBER AT LARGE 2.00 X 0 0 0 TROIANO JEFF TRUSTEE 2.00 X 0 0 0 UMMAH KHALILAH TRUSTEE 2.00 X 0 0 0 VALDMANIS WARREN TRUSTEE 2.00 X 0 0 0 CLOUDMAN CATHERINE PRESIDENT 2.00 X X 0 0 0 LANGER BETSY SECRETARY 2.00 X X 0 0 0 MARCH COLIN TREASURER 2.00 X X 0 0 0 SEMMES ELONIDE VICE PRESIDENT 2.00 X X 0 0 0 WAGG GEOFF HEAD OF SCHOOL 50.00 X 333828 0 122113 DOWD TRACI DIRECTOR OF FINANCE 50.00 X 103142 0 21628 MCCOLGAN CARRIE DIR. OF FINANCE/ASSOC. HEAD OF SCHOOL 50.00 X 114803 0 19919 AHMED ASRA UPPER SCHOOL DIRECTOR 50.00 X 123848 0 42936 BREEN LYNNE M FINLEY DEAN OF ADMISSION 50.00 X 121650 0 33024 HOPKINS ANNE SCRIBNER LOWER SCHOOL DIRECTOR 50.00 X 118574 0 31773 MURALIDHARA DIVYA MIDDLE SCHOOL DIRECTOR 50.00 X 120223 0 22851 THURSTON JOHN COLLEGE COUNSELOR 50.00 X 105617 0 20213 1141685 0 314457 9 0 1 0 SEABREEZE PROPERTY SERVICES INC 250 RIVERSIDE INDUSTRIAL PARKWAY PORTLAND ME 04103 PLOWING & CONSTRUCTION 410295 SHAW BROTHERS CONSTRUCTION INC 341 MOSHER ROAD GORHAM ME 04038 CONSTRUCTION 319828 KEELEY CONSTRUCTION COMPANY INC 1 LINCOLN STREET SOUTH PORTLAND ME 04106 CONSTRUCTION 252000 AQUEDUCT TECHNOLOGIES INC 150 ROYALL STREET CANTON MA 02021 NETWORK SERVICES 156636 4 2273718 1820463 23675 4094181 TUITION 611600 19855472 19855472 AFTER SCHOOL & LESSONS 611600 446455 446455 TUTORING 611600 382476 382476 SUMMER PROGRAMS 611600 361461 361461 CAFETERIA 722514 355364 355364 214473 214473 21615701 839767 31192 808575 21600 64170 -42570 -42570 -42570 3613878 3098381 515497 515497 515497 16433 8624 7809 7809 27030385 21615701 31192 1289311 5173046 5173046 674241 638449 35792 9784871 8306279 1205157 273435 2409723 2116964 234865 57894 742289 587196 134676 20417 42943 42943 31951 31951 56790 56790 95292 95292 405223 29957 375266 159332 41532 96334 21466 368046 368046 86213 71453 602 14158 563738 563738 1052383 1052383 135719 135719 MAINTENANCE, SUPPLIES, 2000635 1670012 222724 107899 MISCELLANEOUS 186216 175905 6792 3519 DUES & SUBSCRIPTIONS 69892 13342 42916 13634 BAD DEBT EXPENSE 16411 16411 10097 10097 24065051 19741834 3718213 605004 8384513 6958515 2381278 2655099 709256 567433 3956 2308733 321843 367570 40651152 15527075 24601686 25124077 19472529 20828080 7448436 7859866 1433 575 63324930 66669948 1884635 2189234 3963106 3281968 17327364 16839669 797349 187446 23972454 22498317 X 26644127 31028583 12708349 13143048 39352476 44171631 63324930 66669948 X 2965334 1247053 606768 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 27257210 519901 2305606 326429 703739 182623 28869926 30530742 320251 -2329584 358310 726032 179857 27257210 24013745 652012 7118549 525321 587199 141044 30530742 25438957 225049 -429180 344449 685533 191099 24013745 25394577 326620 911505 375603 646627 171515 25438957 0.59513 0.31425 0.09063 0 0 811002 811002 37367873 13622027 23745846 528323 424551 103772 1943954 1480497 463457 25124077 HEDGE FUND 7859866 F 7859866 INTEREST RATE SWAP LIABILITY 135502 CAPITAL LEASE OBLIGATIONS 51944 187446 X 23688662 1247053 679562 1926615 21762047 95292 5173046 5268338 27030385 18869507 72794 72794 18796713 95292 5173046 5268338 24065051 PART V, LINE 4: WAYNFLETE HAS A POLICY OF APPROPRIATING FUNDS FOR DISTRIBUTION EACH YEAR EQUAL TO 4.75% OF ITS ENDOWMENT FUND'S AVERAGE FAIR VALUE OVER THE PRIOR 12 QUARTERS THROUGH THE FISCAL YEAR-END PRECEDING THE FISCAL YEAR IN WHICH THE DISTRIBUTION IS PLANNED. IN ACCORDANCE WITH UPMIFA, THE SCHOOL CONSIDERS THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS: THE DURATION AND PRESERVATION OF THE FUND; THE PURPOSES OF THE SCHOOL AND DONOR-RESTRICTED ENDOWMENT FUND; GENERAL ECONOMIC CONDITIONS; THE POSSIBLE EFFECT OF INFLATION AND DEFLATION; THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS; OTHER RESOURCES OF THE SCHOOL; AND THE INVESTMENT POLICIES OF THE SCHOOL. PART X, LINE 2: U.S. GAAP PRESCRIBES A COMPREHENSIVE MODEL FOR HOW AN ORGANIZATION SHOULD MEASURE, RECOGNIZE, PRESENT, AND DISCLOSE IN ITS FINANCIAL STATEMENTS UNCERTAIN TAX POSITIONS THAT THE SCHOOL HAS TAKEN OR EXPECTS TO TAKE ON A TAX RETURN. THE SCHOOL RECOGNIZES THE TAX BENEFITS FROM UNCERTAIN TAX POSITIONS IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH POSITIONS ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE SCHOOL DOES NOT BELIEVE IT HAS TAKEN A POSITION ON ITS TAX RETURNS WHICH WOULD REQUIRE THE RECOGNITION OF A TAX BENEFIT AND, ACCORDINGLY, NO ADJUSTMENT TO THE FINANCIAL STATEMENTS HAS BEEN MADE. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 64,170. UNREALIZED GAIN ON INTEREST RATE SWAP 606,768. SPECIAL EVENT EXPENSES 8,624. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 5,173,046. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 64,170. SPECIAL EVENT EXPENSE 8,624. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 5,173,046. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THIS POLICY IS ALSO LOCATED ON THE SCHOOL'S WEBSITE: WAYNFLETE ADMITS STUDENTS OF ANY RACE, COLOR, RELIGIOUS AFFILIATION, NATIONAL AND ETHNIC ORIGIN, AND WITHOUT REGARD TO DISABILITY, TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE SCHOOL. IT DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, RELIGIOUS AFFILIATION, NATIONAL AND ETHNIC ORIGIN, OR DISABILITY IN ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSIONS POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, AND ATHLETIC AND OTHER SCHOOL-ADMINISTERED PROGRAMS. X X X 1 COMMUNITY COUNSELLING SERVICE CO LLC 527 MADISON AVE 5TH FLOOR NEW YORK NY 10022 CAPITAL CAMPAIGN FEASIBILITY STUDY 0 0 56790 0 56790 SPRING FLING FALL EVENT 16433 16433 8624 16433 16433 8624 8624 7809 1 FINANCIAL AID 214 5173046 TUITION ASSISTANCE FINANCIAL AID X X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 WAGG GEOFF HEAD OF SCHOOL 313328 0 0 0 20500 0 22275 0 99838 0 455941 0 0 0 AHMED ASRA UPPER SCHOOL DIRECTOR 123848 0 0 0 0 0 9340 0 33596 0 166784 0 0 0 BREEN LYNNE M FINLEY DEAN OF ADMISSION 121650 0 0 0 0 0 8770 0 24254 0 154674 0 0 0 HOPKINS ANNE SCRIBNER LOWER SCHOOL DIRECTOR 118574 0 0 0 0 0 8303 0 23470 0 150347 0 0 0 SCHEDULE J, PART II GEOFF WAGG'S OTHER COMPENSATION TOTALING $20,500 IS HIS 457B BENEFIT. MR. WAGG'S NON-TAXABLE BENEFITS, WHICH INCLUDE THE EMPLOYER AND EMPLOYEE PORTION OF PREMIUMS PAID, ARE ITEMIZED BELOW: 31,607 HEALTH INSURANCE 1,590 DENTAL INSURANCE 2,750 HEALTH REIMBURSEMENT PLAN 63,891 HOUSING ALLOWANCE ------ 99,838 NON-TAXABLE BENEFIT MS. BREEN'S NON-TAXABLE BENEFITS, WHICH INCLUDE THE EMPLOYER AND EMPLOYEE PORTION OF PREMIUMS PAID, ARE ITEMIZED BELOW: 20,477 HEALTH INSURANCE 977 DENTAL INSURANCE 2,800 HEALTH REIMBURSEMENT PLAN ------ 24,254 NON-TAXABLE BENEFIT MS. AHMED'S NON-TAXABLE BENEFITS, WHICH INCLUDE THE EMPLOYER AND EMPLOYEE PORTION OF PREMIUMS PAID, ARE ITEMIZED BELOW: 31,607 HEALTH INSURANCE 1,589 DENTAL INSURANCE 400 HEALTH REIMBURSEMENT PLAN ------ 33,596 NON-TAXABLE BENEFIT MS. HOPKINS' NON-TAXABLE BENEFITS, WHICH INCLUDE THE EMPLOYER AND EMPLOYEE PORTION OF PREMIUMS PAID, ARE ITEMIZED BELOW: 22,416 HEALTH INSURANCE 1,054 DENTAL INSURANCE ------ 23,470 NON-TAXABLE BENEFIT A FINANCE AUTHORITY MAINE 010392006 56042BBM8 2014-10-30 10360000 REFINANCE 2007 BOND 0 0 0 B FINANCE AUTHORITY MAINE 010392006 56042BBM8 2014-10-30 9640000 FINANCE CAPITAL PROJECTS 0 0 0 A 10360000 210000 10150000 2008 0 1 1 1 B 9640000 9640000 2018 0 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 1 1 1 1 WELLS FARGO BANK NA 22.900000000000 0 0 0 0 1 B 0 0 1 1 1 1 M&T BANK 12.000000000000 0 0 0 1 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: FINANCE AUTHORITY MAINE DATE THE REBATE COMPUTATION WAS PERFORMED: 10/28/2023 ISSUER NAME: FINANCE AUTHORITY MAINE DATE THE REBATE COMPUTATION WAS PERFORMED: 10/28/2023 INTERESTED PERSON 14071 QUALIFYING NEED-BASED FINANCIAL AID TUITION ASSISTANCE FORM 990, PART VI, SECTION B, LINE 11B REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST IS MONITORED EVERY YEAR, AS THE TRUSTEES ARE ASKED TO COMPLETE A FORM ANNUALLY. IF A CONFLICT EXISTS, IT IS DISCUSSED AND RESOLVED AT THE BOARD LEVEL. TRUSTEES RECUSE THEMSELVES FROM A VOTE WHEN A CONFLICT ARISES. ENFORCEMENT IS PART OF THE GOVERNING PROCESS. FORM 990, PART VI, SECTION B, LINE 15A IN THE FALL OF 2021, THE EVALUATION AND COMPENSATION COMMITTEE, CONSISTING OF THE BOARD CHAIR, VICE CHAIR AND TREASURER INITIATED A PROCESS TO NEGOTIATE A NEW CONTRACT WITH THE HEAD OF SCHOOL, GEOFF WAGG. AT THAT POINT IN TIME, MR. WAGG HAD BEEN IN HIS CURRENT POSITION FOR APPROXIMATELY TEN YEARS AND, BASED ON ANNUAL EMPLOYMENT EVALUATIONS, THE BOARD HAS BEEN AND CONTINUES TO BE HIGHLY SATISFIED WITH HIS PERFORMANCE IN THE ROLE. ADDITIONALLY, MR. WAGG HAS TAKEN ON LEADERSHIP ROLES WITHIN NATIONAL SCHOOL ASSOCIATIONS THAT HAVE ENHANCED THE PROMINENCE OF THE SCHOOL AS WELL AS HIS OWN STATURE IN THE INDUSTRY. THE COMMITTEE ENGAGED OUTSIDE PROFESSIONALS TO ASSIST IN THE PROCESS INCLUDING THE SCHOOL'S LAW FIRM, BERNSTEIN SHUR AND DAVID STETTLER, A FORMER HEAD OF SCHOOL AND INDEPENDENT CONSULTANT TO SCHOOLS. THE COMMITTEE GATHERED DATA FROM INDEX SCHOOLS ON MARKET COMPENSATION LEVELS AND FROM OTHER OUTSIDE RESOURCES RELATED TO BEST COMPENSATION PRACTICES IN THE INDUSTRY. BASED ON THE INDEPENDENT INFORMATION OBTAINED, MR. WAGG'S COMPENSATION PACKAGE WAS ADJUSTED TO BRING HIM IN LINE WITH MARKET LEVELS FOR HEADS OF SCHOOL IN THEIR POSITION FOR TEN PLUS YEARS. ADDITIONALLY, OTHER ELEMENTS OF MR. WAGG'S COMPENSATION PACKAGE WERE NEGOTIATED TO INCREASE STABILITY IN THE ROLE AND PROVIDE ENHANCED VISIBILITY AROUND ANY FUTURE TRANSITIONS IN THE ROLE. THE COMPENSATION PACKAGE AND THE PROCESS UNDERTAKEN WAS REVIEWED AND APPROVED BY THE FULL BOARD AND PROVIDES AN ANTICIPATED SCHEDULE OF COMPENSATION AND BENEFITS THROUGH FY27. TOTAL COMPENSATION AND BENEFITS REPORTED ON SCHEDULE J INCLUDE $313,328 FOR BASE COMPENSATION, $20,500 FOR HIS 457B BENEFIT, $35,947 FOR EMPLOYER AND EMPLOYEE CONTRIBUTIONS FOR HEALTH , DENTAL PLANS AND EMPLOYEE HEALTH REIMBURSEMENT PLAN AND $63,891 FOR THE REPORTABLE HOUSING VALUATION FOR HIS CONTRACTUAL OBLIGATION TO LIVE ON CAMPUS. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON INTEREST RATE SWAP 606,768. PART XII, LINE 2C PROCEDURES FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT DID NOT CHANGE FROM PRIOR YEARS.