2024-04-24T12:32:37-05:00 2023-06-30 381357951 PLANTE & MORAN PLLC 10 S RIVERSIDE PLAZA 9TH FLOOR CHICAGO IL 60606 990 2022-07-01 362216167 LAKE FOREST ACADEMY LAKE 8476153213 1500 WEST KENNEDY ROAD LAKE FOREST IL 60045 MICHAEL J REIDY CHIEF FINANCIAL OFFICER 8476153213 2024-04-24 1 MICHAEL REIDY 999009999 1 KIMBERLY A HAUMANN P00546491 3122071040 2024-04-24 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z CHRIS TENNYSON 1500 WEST KENNEDY ROAD LAKE FOREST IL 60045 52926903 0 X WWW.LFANET.ORG X 1857 IL EDUCATIONAL PROGRAM - INDEPENDENT COLLEGE PREPARATORY SCHOOL. 30 28 210 304 2097185 195775 4730274 6290510 25571760 26899973 2761660 1149334 1731828 2093521 34795522 36433338 6031239 5774596 0 0 14382921 14093195 0 0 1912630 13696557 14845291 34110717 34713082 684805 1720256 113447241 119547820 38146433 39023868 75300808 80523952 X LAKE FOREST ACADEMY STRIVES TO EMBODY IN ITS PRACTICES - AND TO CULTIVATE IN ITS STUDENTS - EXCELLENCE OF CHARACTER, SCHOLARSHIP, CITIZENSHIP, AND RESPONSIBILITY. 0 0 25909610 5774596 26929281 LAKE FOREST ACADEMY "LFA" WAS ESTABLISHED IN 1857 AS THE BOYS' PREPARATORY DEPARTMENT OF LIND UNIVERSITY. THE GIRLS' PREPARATORY DEPARTMENT, FERRY HALL, WAS ADDED 1869. IN 1925, LFA AND FERRY HALL LEGALLY SEPARATED FROM THE UNIVERSITY TO BECOME SECONDARY EDUCATIONAL INSTITUTIONS. IN 1974, THE TWO SCHOOLS MERGED INTO A CO-EDUCATIONAL INDEPENDENT SCHOOL. TODAY'S LFA IS HOME TO 445 STUDENTS FROM 16 STATES AND 41 COUNTRIES WHERE 50% ARE BOARDERS. LFA OPERATES AS A BOARDING SCHOOL WITH 73% OF THE FACULTY RESIDING ON CAMPUS. LFA'S 150-ACRE CAMPUS IS ON THE FORMER ESTATE OF J. OGDEN ARMOUR AND NOW CONSISTS OF A COMPLEMENTARY MIX OF HISTORICAL AND MODERN BUILDINGS.LFA'S 2019 STRATEGIC PLAN, "MIDWESTERN HEART. GLOBAL MIND.", FOCUSES ON PROGRAM SERVICE ACCOMPLISHMENTS: DEVELOPING GLOBAL CITIZENS THROUGH UNIQUE EDUCATIONAL EXPERIENCES WITHIN A DIVERSE AND CARING COMMUNITY. THE ADMINISTRATION AND FACULTY ARE FOCUSED ON WORKING WITHIN THE FOUR MAIN INITIATIVES - EDUCATIONAL EXPERIENCE, MULTICULTURALISM, MARKETING, AND FINANCIAL STRENGTH.FOR 165 YEARS, LFA HAS STAYED TRUE TO ITS CORE VALUES OF EDUCATING THE INNOVATIVE MINDS OF THE NEXT GENERATION. THE INSTITUTION AND ITS PEOPLE ARE POISED TO ACHIEVE HIGHER LEVELS OF SUCCESS AND LOOK ENTHUSIASTICALLY TOWARD A NEW CHAPTER IN LFA'S HISTORY. 25909610 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 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 56 0 1 210 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 30 28 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X MICHAEL J REIDY 8476153213 1500 WEST KENNEDY ROAD LAKE FOREST IL 60045 JOHN S MARLATT CHAIR / TRUSTEE 1.00 0.00 X X 0 0 0 JESSICA P DOUGLAS VICE CHAIR / TRUSTEE 1.00 0.00 X X 0 0 0 RICHARD ZHAO SECRETARY / TRUSTEE 1.00 0.00 X X 0 0 0 CHARLES T COOPER TREASURER / TRUSTEE 1.00 0.00 X X 0 0 0 TODD E ALTOUNIAN TRUSTEE 1.00 0.00 X 0 0 0 BRUCE W ANDERSON TRUSTEE 1.00 0.00 X 0 0 0 MOLLY PEARSON CAMPBELL TRUSTEE 1.00 0.00 X 0 0 0 PATRICK J CARROLL TRUSTEE 1.00 0.00 X 0 0 0 J PATRICK CORSIGLIA TRUSTEE 1.00 0.00 X 0 0 0 JIM C COWART TRUSTEE 1.00 0.00 X 0 0 0 AHMED FARAG TRUSTEE 1.00 0.00 X 0 0 0 KARIN FINK TRUSTEE 1.00 0.00 X 0 0 0 HAJI L GLOVER TRUSTEE 1.00 0.00 X 0 0 0 DAVID GUPTA TRUSTEE 1.00 0.00 X 0 0 0 GLORIA W HARPER TRUSTEE 1.00 0.00 X 0 0 0 DUANE C JACKSON TRUSTEE 1.00 0.00 X 0 0 0 SCOTT W KAESER TRUSTEE 1.00 0.00 X 0 0 0 ALLAN M KAPLAN TRUSTEE 1.00 0.00 X 0 0 0 EDWARD KOVAS TRUSTEE 1.00 0.00 X 0 0 0 RUMI KULI TRUSTEE 1.00 0.00 X 0 0 0 SCOTT MELOUN TRUSTEE 1.00 0.00 X 0 0 0 BETHANN MORITZ TRUSTEE 1.00 0.00 X 0 0 0 BANCROFT O'QUINN JR TRUSTEE 1.00 0.00 X 0 0 0 KATHRYN GRAY POLLOCK TRUSTEE 1.00 0.00 X 0 0 0 KRISTIN REY TRUSTEE 1.00 0.00 X 0 0 0 EMILY SAMMON TRUSTEE 1.00 0.00 X 0 0 0 AMISH S SHAH TRUSTEE 1.00 0.00 X 0 0 0 MARIANNE SILVER TRUSTEE 1.00 0.00 X 0 0 0 THOMAS S WOOD TRUSTEE 1.00 0.00 X 0 0 0 XIONG YIN TRUSTEE 1.00 0.00 X 0 0 0 CHRISTOPHER O TENNYSON HEAD OF SCHOOL 40.00 0.00 X 314235 0 71388 MICHAEL J REIDY CHIEF FINANCIAL OFFICER 40.00 0.00 X 231312 0 40181 ROBERT J BUCKLA VP FOR ADVANCEMENT 40.00 0.00 X 218131 0 35480 NANCY M NASSR ASSISTANT HEAD OF SCHOOL 40.00 0.00 X 175225 0 35226 DARRIN MADELEY ATHLETIC DIRECTOR 40.00 0.00 X 181453 0 34358 GARRY SLOAN PLANNED & MAJOR GIFTS OFFICER 40.00 0.00 X 150925 0 39243 ANDREW F POSKA DEAN OF COLLEGE COUNSELING 40.00 0.00 X 118400 0 42372 CHRISTOPHER KOZLOV DIRECTOR OF IT 40.00 0.00 X 130700 0 30980 JOTHAM THOMAS JOHNSON DEAN OF FACULTY 40.00 0.00 X 127132 0 38303 JOSE M DE JESUS FORMER HEAD OF SCHOOL 40.00 0.00 X 203415 0 33282 1850928 0 400813 13 1 1 0 SODEXO PO BOX 360170 PITTSBURGH PA 152516170 FACILITY MANAGEMENT & CATERING 3318068 ROSE PAVING LLC PO BOX 303 BEDFORD PARK IL 60499 CONSTRUCTION/PAVING 134836 VERACROSS LLC 401 EDGEWATER PLACE STE 360 WAKEFIELD MA 01880 SOFTWARE 130380 NORTHERN TRUST PO BOX 303 BEDFORD PARK IL 60499 INVESTMENTS 129015 4 1213856 1090138 3986516 630460 6290510 TUITION 611600 25438318 25438318 FACILITY RENTAL 531390 1261981 1261981 ACADEMIC FEES & SALES 611600 163374 163374 STUDENT FEES 611600 36300 36300 26899973 1259487 1259487 36947 0 36947 36947 36947 16141104 16239317 11940 -98213 -11940 -110153 -110153 8700 1213856 78619 -69919 -69919 182077 163689 18388 18388 CATERED EVENTS 722320 2097185 2097185 MISCELLANEOUS 900099 10920 10920 2108105 36433338 26929281 2097185 1116362 5774596 5774596 843698 696593 147105 9673593 7228777 1528773 916043 946815 718114 136484 92217 1926276 1338327 361302 226647 702813 510992 122904 68917 77926 77926 82163 82163 191608 191608 82286 82286 29627 29627 944609 678751 170601 95257 843723 716321 114746 12656 782469 550336 222410 9723 3047430 2587268 414450 45712 363563 308665 49445 5453 CATERING AND CAFETERIA 3134649 1536220 1459332 139097 FACILITIES CONTRACT 2456979 2085975 334149 36855 SERVICES 1294550 796741 431003 66806 BAD DEBT 284956 284956 1228753 1078527 100084 50142 34713082 25909610 6890842 1912630 1517610 6853008 5255495 3788221 3236857 2455416 5221231 4169116 94344 86617 389123 393837 88571513 45890798 43270692 42680715 28137922 33091559 25693169 25325553 630798 703778 113447241 119547820 1311003 1229561 19410871 20636059 16251236 16264140 857143 714286 316180 179822 38146433 39023868 X 46913342 49736952 28387466 30787000 75300808 80523952 113447241 119547820 1720256 3502888 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 59090101 1355068 4107664 2340000 62212833 57893929 2019890 -373718 450000 59090101 43345568 1410573 14187788 1050000 57893929 41861257 2627303 -92992 1050000 43345568 37237883 2783330 2218124 378080 41861257 0.57921 0.31497 0.10582 1 0 79267 79267 54015951 20957791 33058160 18672807 13197244 5475563 8910394 7295722 1614672 6893094 4440041 2453053 42680715 BANK COMMON TRUST FUNDS 9445160 F PRIVATE EQUITY LIMITED PARTNERSHIPS 15880393 F 25325553 DEFERRED REVENUE - EMPLOYEE RETENTION CREDIT 128623 FINANCE LEASE OBLIGATIONS 51199 179822 34212330 3502888 242308 3745196 30467134 191608 5774596 5966204 36433338 28989186 242308 242308 28746878 191608 5774596 5966204 34713082 PART V, LINE 4: THE ENDOWMENT FUND IS INVESTED TO PROVIDE A PREDICTABLE STREAM OF INCOME TO SUPPORT THE SCHOOL'S PROGRAMS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COGS 163,688. FUNDRAISING EXPENSES 78,620. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 5,774,596. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS 163,688. FUNDRAISING EXPENSES 78,620. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 5,774,596. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL COMMUNICATES ITS NON-DISCRIMINATION POLICY ON ITS WEBSITE, IN ALL ADMISSION MATERIALS, CATALOGS, VIEWBOOKS, AND IN ALL JOB POSTINGS AND FACULTY RECRUITMENT MATERIALS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES EDUCATIONAL 30888 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES EDUCATIONAL 1988 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES FUNDRAISING & STUDENT RECRUITMENT 7154 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES EDUCATIONAL 30361 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES FUNDRAISING & STUDENT RECRUITMENT 2430 0 0 0 0 0 0 72821 0 72821 0 0 0 0 0 0 PART III ACCOUNTING METHOD: AZ CA CO FL GA IA ID IL IN MA MI MT NE NY OH SD TX VA VT WA WI WY GALA AUCTION 1222556 1213856 8700 18975 36182 4012 19450 1222556 1213856 8700 18975 36182 4012 19450 78619 -69919 1 FINANCIAL AID 132 46419 5146177 FMV FREE OR DISCOUNTED TUITION & A STIPEND FOR BOOKS & EDUCATIONAL SUPPLIES TUITION REMISSION 12 582000 FMV FREE TUITION PROVIDED TO CHILDREN OF FACULTY & STAFF PART I, LINE 2: GRANTS TO STUDENTS ARE BASED ON FINANCIAL NEED WHICH IS DETERMINED BY THE SCHOOL SCHOLARSHIP SERVICE. SCHOLARSHIPS TO STUDENTS ARE BASED ON MERIT ONLY (ACADEMIC EXCELLENCE AND EXTRACURRICULAR INVOLVEMENT). CHILDREN OF FACULTY AND STAFF ARE AUTOMATICALLY ELIGIBLE FOR FULL SCHOLARSHIP, BUT MUST MEET THE ADMISSION REQUIREMENTS TO QUALIFY. X X X X 1 1 X X X 0 0 0 0 0 0 0 1 0 CHRISTOPHER O TENNYSON HEAD OF SCHOOL 252500 0 61735 0 0 0 30300 0 41088 0 385623 0 0 0 MICHAEL J REIDY CHIEF FINANCIAL OFFICER 231312 0 0 0 0 0 23131 0 17050 0 271493 0 0 0 ROBERT J BUCKLA VP FOR ADVANCEMENT 218131 0 0 0 0 0 21813 0 13667 0 253611 0 0 0 JOSE M DE JESUS FORMER HEAD OF SCHOOL 199425 0 0 0 3990 0 19943 0 13339 0 236697 0 0 0 DARRIN MADELEY ATHLETIC DIRECTOR 105533 0 75920 0 0 0 12664 0 21694 0 215811 0 0 0 NANCY M NASSR ASSISTANT HEAD OF SCHOOL 173825 0 1400 0 0 0 17382 0 17844 0 210451 0 0 0 GARRY SLOAN PLANNED & MAJOR GIFTS OFFICER 150925 0 0 0 0 0 15093 0 24150 0 190168 0 0 0 JOTHAM THOMAS JOHNSON DEAN OF FACULTY 127132 0 0 0 0 0 12713 0 25590 0 165435 0 0 0 CHRISTOPHER KOZLOV DIRECTOR OF IT 130700 0 0 0 0 0 13070 0 17910 0 161680 0 0 0 ANDREW F POSKA DEAN OF COLLEGE COUNSELING 114900 0 3500 0 0 0 13788 0 28584 0 160772 0 0 0 PART I, LINE 1A TAX INDEMNIFICATION AND GROSS- UP PAYMENTS HEAD OF SCHOOL - PER EMPLOYMENT CONTRACT (JOSE DE JESUS AND CHRISTOPHER O. TENNYSON) HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE HEAD OF SCHOOL - PER EMPLOYMENT CONTRACT ( JOSE DE JESUS AND CHRISTOPHER O. TENNYSON) HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES HEAD OF SCHOOL REIMBURSABLE BUSINESS EXPENSE PER HEAD OF SCHOOL EMPLOYMENT CONTRACT (JOSE DE JESUS AND CHRISTOPHER O. TENNYSON) PERSONAL SERVICES HEAD OF SCHOOL - IN RECOGNITION' OF BUSINESS USE OF PERSONAL RESIDENCE OF HEAD OF SCHOOL AND AUTHORIZED BY COMPENSATION COMMITTEE (JOSE DE JESUS AND CHRISTOPHER O. TENNYSON) ALL THE ABOVE BENEFITS, EXCEPT HOUSING, WERE CONSIDERED TAXABLE COMPENSATION AND WERE INCLUDED IN WAGES. PART I, LINE 7 THE COMPENSATION COMMITTEE OF THE BOARD APPROVED A ONE TIME BONUS PAYMENT OF $61,735 FOR THIS YEAR TO CHRISTOPHER TENNYSON. THIS IS A SPECIAL NON-RECURRING BONUS PAYMENT BASED ON GRATITUDE FOR HIS DEDICATION TO THE ORGANIZATION AND EXCEPTIONAL PERFORMANCE. DARRIN MADELEY'S INCENTIVE PAY WAS FOR RUNNING THE HOCKEY CAMPS FOR THE ACADEMY. ALL OTHER NON-FIXED PAYMENTS ARE STIPENDS FOR ADDITIONAL DUTIES, NOT BONUSES. A ILLINOIS DEVELOPMENT FINANCE AUTHORITY VARIABLE RATE DEMAND REVENUE BONDS 861091967 2016-06-21 16415000 SEE PART VI 0 0 0 A 16415000 168500 16246500 2016 1 0 1 1 A 0 0 0 0 0 0 1 A 0 1 1 0 1 0 0 0 1 A 1 SCHEDULE K, PART I, BOND ISSUES, COLUMN (F): CONSTRUCTION AND RENOVATION OF CAMPUS FACILITIES AND PAY ISSUANCE COSTS AND REFUNDING OF ILLINOIS DEVELOPMENT FINANCE AUTHORITY VARIABLE RATE DEMAND REVENUE BONDS DATED DECEMBER 1994 AND JULY 2000. MICHAEL J REIDY OFFICER 48500 TUITION REMISSION TUITION X 21 630460 0 1 0 PART I, COLUMN (B): COLUMN B IS NUMBER OF CONTRIBUTIONS FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF TRUSTEES HAS DELEGATED THE RESPONSIBILITY FOR REVIEWING AND RECOMMENDING APPROVAL OF THE FORM 990 TO THE FINANCE AND EXECUTIVE COMMITTEES OF THE BOARD. FOLLOWING SUCH RECOMMENDATION, AND PRIOR TO THE BOARD MEETING AT WHICH THE 990 IS APPROVED, THE BOARD IS NOTIFIED AND INFORMED OF ITS POSTING ON THE WEBSITE AND ITS AVAILABILITY AT THE BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISCUSSED UNDER THE ANY OTHER BUSINESS AGENDA ITEM AT THE FALL BOARD OF TRUSTEES MEETING. FORMS ARE DISTRIBUTED TO TRUSTEES AT THAT MEETING AND AN ELECTRONIC VERSION IS ALSO AVAILABLE ON OUR WEBSITE PAGE FOR TRUSTEES. TRUSTEES ARE REQUIRED TO SIGN A FORM ANNUALLY THAT THEY UNDERSTAND AND AGREE TO FOLLOW THE CONFLICT OF INTEREST POLICY. ANY POTENTIAL CONFLICTS THAT ARISE DURING THE YEAR ARE ASSIGNED TO THE COMMITTEE OF TRUSTEES AND THE BOARD FOR DISCUSSION AND RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 THE BASE SALARY AND OTHER COMPENSATION PROVISIONS FOR THE HEAD OF SCHOOL ARE FIXED BY CONTRACT. THE CONTRACT AND COMPENSATION MATTERS ARE ADMINISTERED ON BEHALF OF THE BOARD BY AN AD HOC COMPENSATION COMMITTEE CONSISTING OF THE CHAIR OF THE BOARD AND CERTAIN MEMBERS OF THE EXECUTIVE COMMITTEE. THE COMPENSATION COMMITTEE CONDUCTS AN ANNUAL REVIEW OF THE HEAD OF SCHOOL'S PERFORMANCE BASED UPON GOALS ESTABLISHED AT THE BEGINNING OF THE YEAR AND DETERMINES WHETHER TO AWARD A PERFORMANCE BONUS AND, IF AWARDED, HOW MUCH. THE CONTRACT PROVISIONS WERE DEVELOPED AFTER TAKING INTO ACCOUNT COMPARATIVE COMPENSATION DATA FURNISHED BY AN OUTSIDE EXPERT, AMONG OTHER CRITERIA. THE HEAD OF SCHOOL USES NAIS DATA, ANNUAL EVALUATIONS, AND A SALARY SCALE TO DETERMINE THE COMPENSATION FOR OFFICERS AND OTHER KEY EMPLOYEES WITHIN THE CONSTRAINT OF A TOTAL COMPENSATION BUDGET SET BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 INFORMATION NOT OTHERWISE RESTRICTED IS MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST SUBMITTED TO THE EXECUTIVE ASSISTANT TO THE HEAD OF SCHOOL.