2024-05-13T11:07:34-05:00 2023-06-30 221478099 COHNREZNICK LLP 350 CHURCH STREET 12TH FLOOR HARTFORD CT 06103 990 2022-07-01 060646906 SOUTH KENT SCHOOL CORPORATION SOUT 8609273539 40 BULLS BRIDGE ROAD SOUTH KENT CT 06785 LAWRENCE SMITH HEAD OF SCHOOL 8609273539 2024-05-07 1 LAWRENCE SMITH 999009999 0 LAURA KIELCZEWSKI P01273422 9592007000 2024-05-05 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z LAWRENCE SMITH 40 BULLS BRIDGE ROAD SOUTH KENT CT 06785 20379219 0 X WWW.SOUTHKENTSCHOOL.ORG X 1923 CT SOUTH KENT SCHOOL, ESTABLISHED IN 1923, IS A COLLEGE-PREPARATORY SCHOOL FOR BOYS IN GRADES 9 THROUGH 12. WE DEVELOP YOUNG MEN WHO CAN EVOLVE AND ADAPT, BE GLOBALLY COMPETITIVE AND PREPARED TO MEET THE CHALLENGES POSED BY A CHANGING NATURAL ENVIRONMENT. THEIR TIME AT SOUTH KENT PREPARES OUR STUDENTS FOR SUCCESS AT EACH POINT IN THEIR LIFE. THREE PRINCIPLES DEFINE THE SCHOOL: SIMPLICITY OF LIFE, SELF-RELIANCE, AND DIRECTNESS OF PURPOSE.SOUTH KENT SCHOOL IS ACCREDITED BY THE NEW ENGLAND ASSOCIATION OF SCHOOLS AND COLLEGES AND HOLDS MEMBERSHIPS IN THE CUM LAUDE SOCIETY, THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS, THE NATIONAL ASSOCIATION OF EPISCOPAL SCHOOLS, THE SECONDARY SCHOOL ADMISSION TEST BOARD, THE CONNECTICUT ASSOCIATION OF INDEPENDENT SCHOOLS, THE ASSOCIATION OF BOARDING SCHOOLS, THE INTERNATIONAL COALITION OF BOYS SCHOOLS AND THE NATIONAL ASSOCIATION FOR COLLEGE ADMISSION COUNSELING. 25 24 88 24 132016 0 4721417 1754834 9845412 9943570 1329970 -228492 392560 131069 16289359 11600981 3628980 4055300 0 0 4308211 5474791 0 0 1015111 5527672 6378793 13464863 15908884 2824496 -4307903 39882934 36202289 17051634 17197661 22831300 19004628 X SOUTH KENT SCHOOL IS AN INDEPENDENT, COLLEGE-PREPARATORY SCHOOL FOR BOYS. SINCE ITS FOUNDING, SOUTH KENT HAS MAINTAINED TIES WITH THE EPISCOPAL CHURCH. THREE PRINCIPLES DEFINE THE SCHOOL: SIMPLICITY OF LIFE, SELF-RELIANCE, AND DIRECTNESS OF PURPOSE.WE OFFER, BY LIVING SIMPLY, AN UNCLUTTERED ENVIRONMENT FOR LIVELY AND RIGOROUS LEARNING.WE ENCOURAGE OUR STUDENTS TO BECOME SELF-RELIANT IN ORDER TO DEVELOP COMPETENCE AND SELF-ESTEEM.WE VALUE DIRECTNESS OF PURPOSE: WE WANT EACH STUDENT TO WELCOME THE CHALLENGE TO FOCUS HIS ENERGIES, TO SET GOALS, AND TO WORK TO MEET THEM. 0 0 12147684 4055300 9989725 A PRIVATE SECONDARY EDUCATIONAL INSTITUTION FOR APPROXIMATELY 145 BOARDING AND DAY STUDENTS (BOYS). THE SCHOOL PROVIDES AN ENVIRONMENT THAT ENCOURAGES INTELLECTUAL, CULTURAL AND ATHLETIC ACHIEVEMENT. 12147684 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 84 0 1 88 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 0 0 X TRISHA LAUNDRY 8609273539 40 BULLS BRIDGE ROAD SOUTH KENT CT 06785 LAWRENCE A SMITH SECRETARY/HEAD OF SCHOOL 60.00 X X 296720 0 102094 JOHN P CAREY TRUSTEE 1.00 X 0 0 0 LINCOLN W DAY TRUSTEE 1.00 X 0 0 0 HANI MS FARSI TRUSTEE 1.00 X 0 0 0 ANNE H FUNNELL TRUSTEE 1.00 X 0 0 0 MARISA GARDINI TRUSTEE 1.00 X 0 0 0 SUSAN GARDNER TRUSTEE 1.00 X 0 0 0 JAMES M GARNETT JR TREASURER 1.00 X X 0 0 0 JOSHUA HANFLING TRUSTEE 1.00 X 0 0 0 CURTIS HIMY TRUSTEE 1.00 X 0 0 0 PETER HOPPER TRUSTEE 1.00 X 0 0 0 JAMES R LOWE III TRUSTEE 1.00 X 0 0 0 BHARAT MEDIRATTA TRUSTEE 1.00 X 0 0 0 CHARLIE MERRILL TRUSTEE 1.00 X 0 0 0 CHRISTINE PINA VICE CHAIR 5.00 X X 0 0 0 PETER RAMSEY TRUSTEE 1.00 X 0 0 0 TIMOTHY RICHARDS TRUSTEE 1.00 X 0 0 0 FITZ ROBERTSON TRUSTEE 1.00 X 0 0 0 WILLIAM ROWE CHAIR 5.00 X X 0 0 0 SID STOCKDALE TRUSTEE 1.00 X 0 0 0 ALEX THOMSON TRUSTEE 1.00 X 0 0 0 JASON VELEZ TRUSTEE 1.00 X 0 0 0 MICHAEL J WALKER TRUSTEE 1.00 X 0 0 0 CHARLES F WREAKS IV TRUSTEE 1.00 X 0 0 0 DORELL WRIGHT TRUSTEE 1.00 X 0 0 0 LUZ MCCARTHY CFO 10/22 50.00 X 34563 0 9947 JAMES G RUSSELL DIRECTOR OF HOCKEY 40.00 X 112224 0 84400 BRIAN D SULLIVAN CHIEF OFFICER OF EXTERNAL RELATIONS & DIR OF DEV 50.00 X 148000 0 14750 591507 0 211191 3 0 1 0 FLIK INDEPENDENT SCHOOLS PO BOX 417632 BOSTON MA 02241 FOOD SERVICE 729262 SAGE DINING SERVICES INC 1402 YORK ROAD LUTHERVILLE MD 21093 FOOD SERVICE 450149 LAIGLE FLOORCOVERING & DESIGN INC PO BOX 987 CANAAN CT 06018 FLOOR INSTALLATION SERVICE 258776 SLAM CONSTRUCTION SERVICES 80 GLASTONBURY BLVD GLASTONBURY CT 06033 CONTRACTOR 257930 B METCALF PAVING INC PO BOX 327 SALISBURY CT 06068 PAVING SERVICE 241416 10 4080 15000 1735754 80628 1754834 TUITION AND FEES 611110 9563002 9563002 AUXILIARY PROGRAMS 611710 380568 248552 132016 9943570 387217 387217 268170 310911 -42741 -42741 -42741 7763262 7703971 675000 59291 -675000 -615709 -615709 8000 4080 12361 -4361 -4361 136720 75995 60725 60725 INSURANCE PROCEEDS 900099 27417 27417 90029 90029 117446 11600981 9989725 132016 -275594 4055300 4055300 501045 306234 137129 57682 3604169 2164816 1024901 414452 543166 345026 126143 71997 545509 346514 126687 72308 280902 182073 66454 32375 170496 170496 57923 57923 69453 69453 401983 286617 112866 2500 94930 94930 201974 18228 113396 70350 115824 86868 17374 11582 1148958 940215 139162 69581 96589 10422 41677 44490 136975 117610 12267 7098 313360 282024 31336 992944 893650 99294 186809 23084 163725 FOOD SERVICES 913485 913485 ATHLETICS 595306 595306 STUDENT SERVICES 179057 179057 702727 401155 140876 160696 15908884 12147684 2746089 1015111 6362196 2277133 559047 26663 233037 198460 3097283 3096207 15034 15034 62034 74817 82666 1089534 32999695 16297257 16791513 16702438 6684340 6586194 5788213 5961463 207571 174346 39882934 36202289 625546 451765 96775 60800 5215632 4488515 10668413 11261536 445268 935045 17051634 17197661 X 12934432 9304163 9896868 9700465 22831300 19004628 39882934 36202289 X -4307903 498251 -17020 X 0 1 X 1 0 X 1280168 2463605 4603059 4721417 1754834 14823083 1280168 2463605 4603059 4721417 1754834 14823083 5155350 9667733 523070 466452 594934 650346 655387 2890189 5095 5095 89471 3178 17701 46541 117446 274337 17992704 49834700 0.53730 0.52540 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: INSURANCE PROCEEDS - 2018 AMOUNT: $ 45,829. 2022 AMOUNT: $ 27,417. OTHER INCOME - 2018 AMOUNT: $ 43,642. 2019 AMOUNT: $ 3,178. 2020 AMOUNT: $ 17,701. 2021 AMOUNT: $ 46,541. 2022 AMOUNT: $ 90,029. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10771453 350000 644573 1500000 10266026 11956241 1092 -1185880 10771453 9007701 1003809 1944731 11956241 9059933 224120 123648 400000 9007701 9199261 188989 285683 614000 9059933 0.35530 0.64470 0.00000 0 0 231050 231050 30198249 14641607 15556642 1210371 1029650 180721 1360025 626000 734025 16702438 U.S. FIXED INCOME FUNDS 3359928 C ALTERNATIVE ASSETS 2601535 C 5961463 POST RETIREMENT BENEFIT OBLIGATION 191982 DEFERRED COMPENSATION 743063 935045 X 8356726 498251 382247 880498 7476228 69453 4055300 4124753 11600981 12183398 399267 399267 11784131 69453 4055300 4124753 15908884 PART V, LINE 4: THE SOUTH KENT SCHOOL HAS APPROXIMATELY 40 INDIVIDUAL ENDOWMENT FUNDS ESTABLISHED FOR A VARIETY OF SCHOOL-RELATED PURPOSES. PART X, LINE 2: MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE SCHOOL AND HAS CONCLUDED THAT, AS OF JUNE 30, 2023 AND 2022, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE SCHOOL'S FEDERAL INFORMATION RETURNS PRIOR TO FISCAL YEAR 2020 ARE CLOSED. MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. IF THE SCHOOL HAD UNRELATED BUSINESS INCOME TAXES, IT WOULD RECOGNIZE INTEREST AND PENALTIES ASSOCIATED WITH ANY TAX MATTERS AS PART OF THE INCOME TAX PROVISION AND INCLUDE ACCRUED INTEREST AND PENALTIES WITH THE RELATED TAX LIABILITY IN THE STATEMENTS OF FINANCIAL POSITION. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 75,995. ACTUARIAL LOSS ON POST-RETIREMENT BENEFIT OBLIGATION -17,020. FUNDRAISING EXPENSES 12,361. RENTAL EXPENSES 310,911. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 4,055,300. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 75,995. FUNDRAISING EXPENSES 12,361. RENTAL EXPENSES 310,911. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 4,055,300. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 REQUIRED NOTICE PUBLISHED IN NEWSPAPER. 1 FINANCIAL AID 124 4055300 FMV NEED BASED FINANCIAL AID PART I, LINE 2: FINANCIAL AID IS GRANTED TO FAMILIES ON A NEED BASIS. IN ORDER TO OBJECTIVELY ESTABLISH FINANCIAL NEED, THE SCHOOL SUBSCRIBES TO THE SCHOOL AND STUDENT SERVICES (SSS). THE SSS PROVIDES A FINANCIAL NEEDS ANALYSIS USING OBJECTIVE CRITERIA APPLIED TO FINANCIAL INFORMATION PROVIDED BY THE FAMILIES. ONCE NEED IS ESTABLISHED, THE SCHOOL WILL DETERMINE THE APPROPRIATE AWARD AMOUNT. X X 1 1 X X X 0 0 0 0 0 0 0 1 0 LAWRENCE A SMITH SECRETARY/HEAD OF SCHOOL 296670 0 0 0 50 0 26000 0 76094 0 398814 0 0 0 JAMES G RUSSELL DIRECTOR OF HOCKEY 98424 0 8050 0 5750 0 0 0 84400 0 196624 0 0 0 BRIAN D SULLIVAN CHIEF OFFICER OF EXTERNAL RELATIONS 147500 0 0 0 500 0 14750 0 0 0 162750 0 0 0 PART I, LINE 1A THE HEADMASTER MUST RESIDE IN THE HEADMASTER'S RESIDENCE LOCATED ON THE SCHOOL'S CAMPUS IN ORDER FOR THE HEADMASTER TO EFFECTIVELY PERFORM PRESCRIBED DUTIES, INCLUDING, BUT NOT LIMITED TO, PROVIDING STUDENTS AND TEACHERS OFF HOURS WITH ACCESS TO LOCKED BUILDINGS AND OTHER CAMPUS VENUES WHEN NECESSARY, PROVIDING CAMPUS OVERSIGHT DURING EVENINGS AND WEEKENDS AND VACATIONS, AND PROVIDING CONVENIENT ADMINISTRATIVE PRESENCE AT SCHOOL EVENTS. THE HEADMASTER'S OCCUPATION OF THIS RESIDENCE IS A CONDITION OF HIS EMPLOYMENT BY THE SCHOOL AND IS FOR THE CONVENIENCE OF THE SCHOOL. AS A REPRESENTATIVE OF THE SCHOOL, THE HEADMASTER USES SAID HOUSE FOR MEETINGS OF DONORS, STUDENTS, TEACHERS, STAFF MEMBERS, ALUMNI, VISITING TEACHERS, SCHOLARS, TRUSTEES, AND SPEAKERS, AND FOR SUCH OTHER SCHOOL FUNCTIONS AND AFFAIRS AS SHALL BE APPROPRIATE FOR THE BEST INTEREST AND DEVELOPMENT OF THE SCHOOL. PART I, LINE 7 THE DIRECTOR OF HOCKEY RECEIVED A BOARD APPROVED BONUS OF $8,050 WHICH WAS REPORTED IN HIS 2022 W2. X 1 80628 FMV 0 0 0 PART I, COLUMN (B): THE AMOUNT IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION B, LINE 11B ONCE THE FORM 990 IS COMPLETED, IT IS FIRST REVIEWED BY THE SCHOOL'S INTERNAL MANAGEMENT AND OUTSIDE ADVISORS. FOLLOWING THAT REVIEW, THE FORM 990 IS PROVIDED TO THE FULL BOARD OF TRUSTEES WHO WILL THEN REVIEW AND APPROVE THE FILING OF THE FORM FOR THE TAX YEAR. IN ORDER TO PROTECT THE PRIVACY OF ITS DONOR BASE, THE SCHOOL CHOOSES TO DISTRIBUTE TO THE BOARD A COPY OF FORM 990 WHICH EXCLUDES SCHEDULE B. ALL OTHER PAGES, SCHEDULES AND ATTACHMENTS ARE PROVIDED IN FULL TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE CORPORATION, ITS TRUSTEES AND OFFICERS SHALL AT ALL TIMES TAKE SUCH STEPS AS ARE NECESSARY TO ENSURE NO CONFLICT OF INTEREST EXISTS OR OCCURS BETWEEN ANY TRUSTEE OR OFFICER OF THE CORPORATION AND THE CORPORATION OR ITS INTERESTS. ANY TRUSTEE WHO HAS ANY INTEREST, DIRECTLY OR INDIRECTLY, IN ANY ENTITY THAT CONTRACTS WITH OR OTHERWISE SERVES THE CORPORATION SHALL BE DISQUALIFIED FROM VOTING WITH REGARD TO SUCH RELATIONSHIP OR OTHERWISE ACTING IN ANY OFFICIAL CAPACITY ON BEHALF OF THE CORPORATION IN CONNECTION WITH SUCH RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 15A THE HEAD OF SCHOOL'S COMPENSATION IS REVIEWED ANNUALLY AND INDEPENDENTLY BY THE BOARD OF TRUSTEES. COMPARABLE COMPENSATION DATA IS CONSIDERED DURING THE REVIEW, INCLUDING SALARY DATA FROM PRIOR YEARS' FORM 990 AND NAIS BENCHMARK DATA. A RECOMMENDATION IS THEN PROVIDED FOR APPROVAL BY THE FULL BOARD. SIMILARLY, SALARIES OF OTHER KEY EMPLOYEES ARE REVIEWED BY THE HEAD OF SCHOOL IN CONJUNCTION WITH COMPARABLE SALARY DATA DERIVED FROM VARIOUS SOURCES, INCLUDING NAIS BENCHMARK DATA AND FORM 990 OF SIMILAR INSTITUTIONS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE OFFICES OF THE SCHOOL. FORM 990, PART XI, LINE 9: ACTUARIAL LOSS ON POST-RETIREMENT BENEFIT OBLIGATION -17,020.