2024-05-15T11:08:08-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 29 SOUTH MAIN STREET 4TH FLOOR WEST HARTFORD CT 06107 990 2022-07-01 061229222 KING SCHOOL INC KING 2033223496 1450 NEWFIELD AVENUE STAMFORD CT 06905 STEPHEN SCHAFER CHIEF FIN. & OPERATIONS OFFICER 2033223496 2024-05-09 1 STEPHEN SCHAFER 999009999 0 JOHN TOSCANO P00358542 8605614000 2024-05-08 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z STEPHEN SCHAFER 1450 NEWFIELD AVENUE STAMFORD CT 06905 62581881 0 X WWW.KINGSCHOOLCT.ORG X 1988 CT KING SCHOOL IS AN INDEPENDENT, COLLEGE PREPARATORY SCHOOL SERVING THE STAMFORD, CT AREA. 26 26 367 68 10210 0 2740811 3279832 33649645 36345866 4641287 2161347 145589 201046 41177332 41988091 4399564 4685470 0 0 22109225 22845847 0 0 1335269 11526498 13558279 38035287 41089596 3142045 898495 109827604 115105975 38776756 40581594 71050848 74524381 X KING SCHOOL PREPARES STUDENTS TO THRIVE IN A RAPIDLY CHANGING WORLD. STUDENTS ARE IMMERSED IN AN ENGAGING AND INNOVATIVE CURRICULUM ANCHORED IN AN INQUIRY-BASED APPROACH THAT FOSTERS CURIOSITY, INTELLECTUAL GROWTH, AND CHARACTER DEVELOPMENT. AT KING SCHOOL, INDIVIDUAL ACCOMPLISHMENT COMPLEMENTS A DEEP SENSE OF BELONGING. WE EMBRACE DIVERSITY IN ALL ITS FORMS, NURTURING EVERY STUDENT TO LEARN AND GROW IN A COLLABORATIVE AND SUPPORTIVE COMMUNITY. GUIDED BY DEDICATED EDUCATORS AND A COMMITMENT TO ACADEMIC EXCELLENCE, KING STUDENTS BECOME INVESTED IN THEIR JOURNEY, DEVELOP A LIFELONG LOVE OF LEARNING, AND ARE WELL-EQUIPPED TO SUCCEED IN COLLEGE AND BEYOND. THEY GRADUATE WITH A GLOBAL MINDSET, A STRONG SENSE OF SOCIAL RESPONSIBILITY, AND THE CONFIDENCE TO PURSUE LIVES OF PURPOSE. 0 0 32996126 4685470 36345866 PROVIDED COLLEGE PREPARATORY EDUCATION FOR APPROXIMATELY 700 CHILDREN AGES PRE-SCHOOL THROUGH GRADE 12. EDUCATIONAL PROGRAMS INCLUDE BOTH TRADITIONAL ACADEMIC YEAR AND STRATEGIES COURSE PROGRAMS. 32996126 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 81 0 367 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X STEPHEN SCHAFER 2033223496 1450 NEWFIELD AVENUE STAMFORD CT 06905 THOMAS KING BOARD CHAIR 25.00 X X 0 0 0 MI-SUN FREEMAN VICE CHAIR 5.00 X X 0 0 0 ERIC GERSTER SECOND VICE CHAIR 5.00 X X 0 0 0 NANCY HEATON TREASURER 5.00 X X 0 0 0 JESSICA DEMMO SECRETARY 5.00 X X 0 0 0 THOMAS CONHEENEY FIRST AT LARGE 2.00 X 0 0 0 DOUG PERLMAN SECOND AT LARGE 2.00 X 0 0 0 PETER RESNICK THIRD AT LARGE 2.00 X 0 0 0 MATTHEW ALLARD TRUSTEE 2.00 X 0 0 0 MATTHEW BARLOW TRUSTEE 2.00 X 0 0 0 LAUREN BELLMARE TRUSTEE 2.00 X 0 0 0 WEI DU TRUSTEE 2.00 X 0 0 0 AHMED FATTOUH TRUSTEE 2.00 X 0 0 0 STACEY GAINE TRUSTEE 2.00 X 0 0 0 KIRBY GRABOWSKI LIM TRUSTEE 2.00 X 0 0 0 OKTAY KURBANOV TRUSTEE 2.00 X 0 0 0 ARA LOVITT TRUSTEE 2.00 X 0 0 0 BRIAN O'CALLAGHAN TRUSTEE 2.00 X 0 0 0 AMADEU RIBEIRO TRUSTEE 2.00 X 0 0 0 GOD-IS RIVERA TRUSTEE 2.00 X 0 0 0 THOMAS RYAN TRUSTEE 2.00 X 0 0 0 KISHAUNA SOLJOUR TRUSTEE 2.00 X 0 0 0 RACHELLE SPIELVOGEL TRUSTEE 2.00 X 0 0 0 MARTIN SULLIVAN TRUSTEE 2.00 X 0 0 0 LORENZO WYATT TRUSTEE 2.00 X 0 0 0 LINDSAY ZAKEN TRUSTEE 2.00 X 0 0 0 CAROL MAOZ HEAD OF SCHOOL 40.00 X 408335 0 111670 STEPHEN SCHAFER CHIEF FINANCIAL AND OPERAT 40.00 X 320661 0 33077 BARBARA DRAYER DIRECTOR OF DEVELOPMENT AND ALUMNI PROGRAMS 40.00 X 211233 0 11334 SANDY LIZAIRE-DUFF HEAD OF LOWER SCHOOL 40.00 X 203350 0 54933 MARNIE SADLOWSKY ASSOC. HEAD/HEAD OF UPPER 40.00 X 210507 0 41949 JANINE NEWMAN ASSOC. HEAD OF SCHOOL FOR ADVANCEMENT 40.00 X 190800 0 43333 CRAIG TUNKS DIRECTOR OF TECHNOLOGY INNOVATION AND INTEGRATION 40.00 X 171936 0 31450 1716822 0 327746 36 0 1 0 FLIK INDEPENDENT SCHOOLS BY CHARTWELL PO BOX 417632 BOSTON MA 02241 FOOD SERVICES 1133668 SODEXO INC & AFFILIATES PO BOX 81049 WOBURN MA 01813 FACILITIES MAINTENANCE 1089765 ASD CONSTRUCTION 470 NAUGATUCK AVENUE MILFORD CT 06460 CONSTRUCTION 452424 NOVUS INSIGHT INC 222 PITKIN ST SUITE 101 EAST HARTFORD CT 06108 TECHNOLOGY SERVICES 214958 NG ENTERTAINMENT LLC 65 BANK STREET STAMFORD CT 06901 CATERING AND EVENT SERVICES 171178 8 56004 3223828 277288 3279832 TUITION & PROGRAM FEES 611600 34574695 34574695 FOOD SERVICE INCOME 611600 877883 877883 OTHER STUDENT FEES 611600 326814 326814 PARENT ASSOCIATION INCOME 611600 285107 285107 SUMMER INSTITUTE FEES 611600 281367 281367 36345866 1344343 9026 1335317 19800 0 19800 19800 19800 21357796 20540792 817004 817004 1184 815820 32525 56004 52998 -20473 -20473 OTHER INCOME 611600 201719 201719 201719 41988091 36345866 10210 2352183 4685470 4685470 1018216 1018216 16187975 13182794 2223799 781382 855324 700520 113862 40942 3576417 2858592 547808 170017 1207915 934600 217919 55396 63281 63281 153713 153713 170961 170961 267170 131851 127519 7800 450159 16418 428340 5401 940143 414435 525708 2442259 2178150 264109 144350 144350 3103996 2799296 304700 385752 341190 44562 EDUCATION INSTRUCTION 2883288 2883288 OTHER EXPENSES 1277255 449220 553704 274331 DINING COSTS 1081772 1081772 PARENT ASSOCIATION EXPE 194180 194180 41089596 32996126 6758201 1335269 2383772 242946 9477504 12910080 1210340 1194836 21728148 23043215 415618 593708 71652953 38523354 34682074 33129599 27597406 29515052 11203087 12896902 1129655 1579637 109827604 115105975 4758911 3948780 28257849 31175820 5759996 5456994 38776756 40581594 X 63921857 66423193 7128991 8101188 71050848 74524381 109827604 115105975 898495 2575038 0 X 0 1 X 1 0 X 4403959 5735196 4229021 2740811 3279832 20388819 4403959 5735196 4229021 2740811 3279832 20388819 2178686 18210133 903937 531422 394198 944078 1353933 4127568 10210 10210 317241 265030 244932 240360 234244 1301807 25828404 162713654 0.70500 0.72850 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS INCOME FROM FUNDRAISING EVENTS PARENT ASSOCIATION DUES AND OTHER INCOME OTHER INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 38722649 463808 4083729 132488 718488 42419210 42162093 1160540 -3762406 112344 725234 38722649 30308340 4968779 7249529 103392 261086 77 42162093 28868784 1917478 135060 4556 608398 28 30308340 27003130 1452937 962693 549896 80 28868784 0.85206 0.11024 0.03770 0 0 220000 220000 62162113 31504718 30657395 8745069 7018636 1726433 525771 525771 33129599 ALTERNATIVE INVESTMENTS 12896902 F 12896902 X 38672193 2575038 52998 2628036 36044157 170961 5772973 5943934 41988091 35198660 52998 52998 35145662 170961 5772973 5943934 41089596 PART V, LINE 4: THE PRIMARY USE OF THE ENDOWMENT IS TO PROVIDE SCHOLARSHIPS TO ELIGIBLE STUDENTS AND SUPPORT SCHOOL OPERATIONS. PART X, LINE 2: THE SCHOOL QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES. TO THE BEST OF OUR KNOWLEDGE, THE SCHOOL DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 52,998. PART XI, LINE 4B - OTHER ADJUSTMENTS: TUITION REMISSION 1,087,503. SCHOLARSHIPS AND GRANTS IN AID 4,685,470. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 52,998. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION REMISSION 1,087,503. SCHOLARSHIPS AND GRANTS IN AID 4,685,470. 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'S RACIALLY NONDISCRIMINATORY POLICY IS STATED ON EVERY PAGE ON OUR WEBSITE. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 4575024 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 6671201 0 0 0 0 0 0 11246225 0 11246225 1 0 1 0 0 0 PART III ACCOUNTING METHOD: VIKINGS CUP 66529 34004 32525 51808 1190 GALA 22000 22000 88529 56004 32525 51808 1190 52998 -20473 1 FINANCIAL AID AND SCHOLARSHIPS 162 4685470 FMV REDUCTION IN TUITION AND SUMMER INSTITUTE FEES PART I, LINE 2: FINANCIAL AID IS AVAILABLE FOR QUALIFIED STUDENTS ON THE BASIS OF NEED DETERMINED BY SCHOOL AND STUDENT SERVICES (SSS) GUIDELINES WHICH PROVIDE A FINANCIAL AID NEED ANALYSIS BASED ON CONFIDENTIAL INFORMATION PROVIDED BY FAMILIES. THE SCHOLARSHIPS ARE AWARDED ON AN OBJECTIVE AND NONDISCRIMINATORY MANNER. ALL SCHOLARSHIPS ARE MADE DIRECTLY AS CREDITS AGAINST STUDENT ACCOUNTS AND NO CASH REFUNDS ARE ISSUED FOR ANY PURPOSE. X 1 1 X X X 0 0 0 0 0 0 0 1 1 0 CAROL MAOZ HEAD OF SCHOOL 408335 0 0 0 0 0 20340 0 91330 0 520005 0 0 0 STEPHEN SCHAFER CHIEF FINANCIAL AND OPERAT 317387 0 2500 0 774 0 22354 0 10723 0 353738 0 0 0 SANDY LIZAIRE-DUFF HEAD OF LOWER SCHOOL 186100 0 0 0 17250 0 9561 0 45372 0 258283 0 0 0 MARNIE SADLOWSKY ASSOC. HEAD/HEAD OF UPPER 210065 0 0 0 442 0 19535 0 22414 0 252456 0 0 0 JANINE NEWMAN ASSOC. HEAD OF SCHOOL FOR ADVANCEMEN 188532 0 2000 0 268 0 14056 0 29277 0 234133 0 0 0 BARBARA DRAYER DIRECTOR OF DEVELOPMENT AND ALUMNI P 206233 0 5000 0 0 0 0 0 11334 0 222567 0 0 0 CRAIG TUNKS DIRECTOR OF TECHNOLOGY INNOVATION AN 171580 0 0 0 356 0 8941 0 22509 0 203386 0 0 0 PART I, LINE 1A AS HEAD OF SCHOOL, CAROL MAOZ WAS PROVIDED WITH ON-CAMPUS HOUSING. THIS HOUSING IS REQUIRED BY THE NATURE OF THE POSITION AND AS A CONDITION OF EMPLOYMENT AND IS TREATED AS A NON-TAXABLE BENEFIT. PART I, LINE 7 BONUSES ARE AWARDED BASED ON THE ACHIEVEMENT OF SPECIFIC PERFORMANCE GOALS. PART I, LINE 8 CAROL MAOZ IS IN HER INITIAL HEAD OF SCHOOL CONTRACT WITH THE SCHOOL, WHICH ENDS ON JUNE 30 2024. AN EXTENSION WAS SIGNED WHICH EXTENDS THIS CONTRACT THROUGH JUNE 30, 2026. A CHEFA 2023 SERIES C 060806186 2023-04-27 5612000 REFINANCING SERIES C 2023 BOND ISSUANCE 0 0 0 A 5612000 111500 5500500 2003 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 PART II, LINE 11 OTHER SPENT PROCEEDS RELATES TO REFINANCING OF PRIOR BOND X 13 277288 FAIR MARKET VALUE 0 1 0 PART I, COLUMN (B): THE NUMBER REPORTED IN PART I COLUMN (B) REPRESENTS THE NUMBER OF STOCK GIFTS RECEIVED. FORM 990, PART VI, SECTION A, LINE 1A SUBJECT TO ANY PRIOR LIMITATIONS IMPOSED BY THE BOARD AND THOSE CONTAINED IN THE BY-LAWS, THE EXECUTIVE COMMITTEE SHALL HAVE THE POWER TO TRANSACT ALL REGULAR BUSINESS OF KING DURING THE INTERIM BETWEEN THE MEETINGS OF THE BOARD, AND ITS ACTIONS SHALL HAVE THE SAME FORCE AND EFFECT AS ACTION OF THE BOARD, PROVIDED, HOWEVER, THE EXECUTIVE COMMITTEE MAY NOT: (1) FILL VACANCIES ON THE BOARD; (2) ADOPT, AMEND OR REPEAL THE BY-LAWS; (3) APPROVE A PLAN OF MERGER; (4) APPROVE A SALE, LEASE, EXCHANGE OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL, OF THE PROPERTY OF KING EXCEPT AS PROVIDED IN SECTION 33- 1101(E)(5) OF THE ACT; OR (5) APPROVE A PROPOSAL TO DISSOLVE. IT IS THE EXPECTATION OF THE BOARD THAT, EXCEPT AS PROVIDED IN THE BY-LAWS, THE EXECUTIVE COMMITTEE SHALL ACT ON BEHALF OF THE BOARD ONLY IN UNUSUAL AND PRESSING CIRCUMSTANCES, AS DETERMINED IN THE DISCRETION OF THE CHAIRPERSON. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE AND EXECUTIVE COMMITTEE REVIEW THE ENTIRE 990. FORM 990, PART VI, SECTION B, LINE 12C ALL TRUSTEES AND OFFICERS ARE OBLIGATED TO SIGN A CONFLICT OF INTEREST STATEMENT. POTENTIAL CONFLICTS MUST BE REPORTED TO THE CHAIR OF THE TRUSTEESHIP COMMITTEE OF THE BOARD OF TRUSTEES. MEMBERS OF THE TRUSTEESHIP COMMITTEE WILL BE DESIGNATED BY THE CHAIR OF THE TRUSTEESHIP COMMITTEE TO INVESTIGATE POTENTIAL CONFLICT SITUATIONS OF BOTH INTEREST AND COMMITMENT AND, IF APPROPRIATE, PROVIDE RECOMMENDATIONS FOR CORRECTIVE ACTION. RECOMMENDATIONS ARE TO BE BROUGHT FORWARD BY THE CHAIR OF THE TRUSTEESHIP COMMITTEE TO THE CHAIR OF THE BOARD OF TRUSTEES AND HEAD OF SCHOOL AS HE OR SHE DEEMS APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15 THE HEAD OF SCHOOL'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, ACCORDING TO THE PHILOSOPHY AND PROCESS OUTLINED IN THE COMPENSATION PHILOSOPHY. COMPETITIVE COMPENSATION DATA FROM SEVERAL SOURCES, EXPERIENCE AND A PERFORMANCE APPRAISAL ARE UTILIZED IN THE COMPENSATION DETERMINATION AND DOCUMENTATION. THE HEAD OF SCHOOL DETERMINES THE COMPENSATION FOR MANAGEMENT OFFICIALS UTILIZING THE OVERALL SALARY INCREASE POOL APPROVED BY THE BOARD OF TRUSTEES AS A BASE. IN ADDITION, COMPETITIVE SALARY DATA, EXPERIENCE AND A PERFORMANCE APPRAISAL ARE UTILIZED FOR DETERMINING COMPENSATION AS WELL AS DOCUMENTATION. IN ADDITION, THE CHIEF FINANCIAL AND OPERATING OFFICER AND THE HEAD OF SCHOOL REVIEW COMPARABLE DATA AND DISCUSS PERFORMANCE OF OTHER MANAGEMENT OFFICIALS. TAKING THIS DATA INTO CONSIDERATION, THE HEAD OF SCHOOL WILL THEN DETERMINE THE COMPENSATION. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL'S CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS, AND GOVERNING DOCUMENTS ARE MADE AVAILABLE BY REQUESTS AT MANAGEMENT'S DISCRETION.