2025-05-15T13:33:10-05:00 2024-06-30 881478669 CBIZ ADVISORS LLC 53 STATE STREET BOSTON MA 02109 990 2023-07-01 030179305 PUTNEY SCHOOL INC PUTN 8023876215 418 HOUGHTON BROOK ROAD PUTNEY VT 053468675 STEPHANIE HARKINS CFO 8023876215 2025-05-15 1 1 DOUGLAS FARRINGTON P00370668 6178075000 2025-05-15 2023 2025-03-06 01:10:19Z JOSHUA LAUGHLIN 418 HOUGHTON BROOK ROAD PUTNEY VT 053468675 29587612 0 X WWW.PUTNEYSCHOOL.ORG X 1935 VT INDEPENDENT, COEDUCATIONAL BOARDING AND DAY SECONDARY SCHOOL. 25 24 278 203 41250 0 2353118 4296130 15443226 16855228 1812056 2137638 16692 32278 19625092 23321274 3909148 4515199 0 0 8715217 8851439 0 0 790431 6475097 7391719 19099462 20758357 525630 2562917 73502289 78609084 11874971 12970239 61627318 65638845 X THE ORGANIZATION IS COMMITTED TO DEVELOPING EACH STUDENT'S FULL INTELLECTUAL, ARTISTIC AND PHYSICAL POTENTIAL. STUDENTS ARE ENCOURAGED TO CHALLENGE THEMSELVES INTELLECTUALLY, TO PURSUE RIGOROUS LEARNING FOR ITS OWN SAKE, (SEE SCHEDULE O)THE ORGANIZATION IS COMMITTED TO DEVELOPING EACH STUDENT'S FULL INTELLECTUAL, ARTISTIC AND PHYSICAL POTENTIAL. STUDENTS ARE ENCOURAGED TO CHALLENGE THEMSELVES INTELLECTUALLY, TO PURSUE RIGOROUS LEARNING FOR ITS OWN SAKE, TO ACTIVELY PARTICIPATE IN AND APPRECIATE THE ARTS, TO CONTRIBUTE MEANINGFULLY TO THE WORK PROGRAM THAT SUSTAINS THE SCHOOL COMMUNITY AND THE FARM ON WHICH IT IS LOCATED, TO ENGAGE IN VIGOROUS ATHLETICS, AND TO DEVELOP A SOCIAL CONSCIOUSNESS AND WORLD VIEW THAT WILL PROVIDE THE FOUNDATION FOR LIFE-LONG MORAL AND INTELLECTUAL GROWTH. 0 0 14738277 4515199 16846218 THE PUTNEY SCHOOL PROVIDES AN EDUCATIONAL PROGRAM FOR APPROXIMATELY 165 BOARDING AND 61 DAY HIGH SCHOOL STUDENTS. 14738277 1 1 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 81 0 1 278 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 25 24 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 VT X X THE ORGANIZATION 8023876245 PUTNEY SCHOOL ELM LEA FARM PUTNEY VT 05346 DANIEL O'BRIEN HEAD OF SCHOOL/TRUSTEE 40.00 X X 308064 0 20443 ABIGAIL VERNEY-FINK FACULTY TRUSTEE 40.00 X 49662 0 27278 CAROL HODGMAN FACULTY TRUSTEE 40.00 X 59017 0 16107 JOSHUA LAUGHLIN CHAIR 1.00 X X 0 0 0 ELIZABETH BLAYLOCK VICE CHAIR 1.00 X X 0 0 0 NATASHA BYUS VICE CHAIR 1.00 X X 0 0 0 CAITLIN BAGGOTT DAVIS TRUSTEE 1.00 X 0 0 0 DREW BERESFORD TRUSTEE 1.00 X 0 0 0 LAURA E BERNER TRUSTEE 1.00 X 0 0 0 DINAH BUECHNER-VISCHER TRUSTEE 1.00 X 0 0 0 CYANE B DANDRIDGE TRUSTEE 1.00 X 0 0 0 HEATHER FREEDMAN TRUSTEE 1.00 X 0 0 0 REBECCA GEARY TRUSTEE 1.00 X 0 0 0 ETHAN GRAY TRUSTEE 1.00 X 0 0 0 YIRU STEVEN JIANG TRUSTEE 1.00 X 0 0 0 JENNIFER JUST TRUSTEE 1.00 X 0 0 0 JONATHAN LASH TRUSTEE 1.00 X 0 0 0 JOHN MACINTOSH TRUSTEE 1.00 X 0 0 0 INNOCENT NDUBUISI OBI TRUSTEE 1.00 X 0 0 0 BOB RAYNOLDS TRUSTEE 1.00 X 0 0 0 KELLY REESE TRUSTEE 1.00 X 0 0 0 MARNI ROSNER TRUSTEE 1.00 X 0 0 0 THOMAS STEELE-MALEY TRUSTEE 1.00 X 0 0 0 TONIA WHEELER TRUSTEE 1.00 X 0 0 0 CHARLIE YOUNG TRUSTEE 1.00 X 0 0 0 RANDALL SMITH TREASURER/CFO (LEFT 10/23) 40.00 X 208665 0 22713 STEPHANIE HARKINS TREASURER/CFO 40.00 X 125309 0 10524 KATY WOLFE CLERK 40.00 X 64290 0 17478 KEVIN CHAMNEY DIRECTOR OF TECHNOLOGY 40.00 X 113040 0 21539 JOHN BARRENGOS DIRECTOR OF ADMISSIONS 40.00 X 154386 0 20544 KAYLA YANNATOS DIRECTOR OF DEVELOPMENT 40.00 X 128802 0 22851 1211235 0 179477 6 0 1 0 REARCH COMPANY INC 88 TECHNOLOGY PARK WAY SUITE 2 SOUTH BURLINGTON VT 05403 CONSTRUCTION 8694416 THE MELANSON COMPANY 353 WEST STREET PO BOX 523 KEENE NH 03431 CONSTRUCTION 214842 AWG DEWAR INC FOUR BATTERYMARCH PARK QUINCY MA 02169 INSURANCE 214750 SINGER KITTREDGE 100 BOWLES ROAD AGAWAM MA 01001 CONSTRUCTION/INSTALLATION 152023 VERMONT CONSTRUCTION COMPANY 182 HEGEMAN AVE SUITE 1 COLCHESTER VT 05446 CONSTRUCTION 104550 5 4296130 120621 4296130 TUITION AND FEES 611110 15647282 15647282 SUMMER PROGRAMS 611110 869073 827823 41250 TUTORING 611110 224862 224862 LAND USE REVENUE 900099 113931 113931 ELM CHILDCARE TUITION 611110 80 80 16855228 1102493 1102493 7299922 6264777 1035145 1035145 1035145 23601 1561 22040 22040 APPLICATION FEES 611110 10200 10200 OTHER REVENUE 900099 38 38 10238 23321274 16846218 41250 2137676 4515199 4515199 906914 225229 681685 6029312 4866686 673778 488848 326321 258929 34140 33252 1099820 889392 142011 68417 489072 370744 84808 33520 86520 86520 73515 73515 177652 177652 559171 472655 78216 8300 520395 30859 489536 1000707 761944 170650 68113 282440 164609 91169 26662 1300409 1236324 64085 241243 109657 95433 36153 305557 305557 1343713 1343713 462752 10598 452154 FOOD 566913 566913 ATHLETICS 77068 77068 PROFESSIONAL DEVELOPMEN 41760 27315 14445 351904 154156 170582 27166 20758357 14738277 5229649 790431 4619922 2800222 2263211 20375 932126 2134851 164717 177872 182321 139161 58068669 26066619 24308128 32002050 40486350 40789039 545514 545514 73502289 78609084 2394987 1001878 2153944 2901386 6522212 8255020 635513 610939 168315 201016 11874971 12970239 X 29995451 35317287 31631867 30321558 61627318 65638845 73502289 78609084 2562917 1448610 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 1 72.00 0 1 0 X X 0 39922453 125866 3280431 2794725 40534025 37766858 683718 2641877 1170000 39922453 38144343 6267019 -3704596 2939908 37766858 32043820 8542754 6204734 1121400 38144343 28997975 3541172 126979 1472306 32043820 0.36929 0.50562 0.12509 0 0 93652 93652 51796444 21003463 30792981 5877216 5063156 814060 301357 301357 32002050 OTHER LIABILITIES 201016 201016 X 20077276 1448610 243 1448853 18628423 177652 4515199 4692851 23321274 16065749 243 243 16065506 177652 4515199 4692851 20758357 PART III, LINE 1A: COLLECTIONS: THE SCHOOL'S COLLECTION IS COMPRISED OF VARIOUS ART OBJECTS THAT ARE HELD FOR EDUCATIONAL AND CURATORIAL PURPOSES. THE SCHOOL IS CURRENTLY IN THE PROCESS OF CATALOGING EACH PIECE. EACH ITEM IS CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION, ARE PERFORMED REGULARLY. THE SCHOOL HAS NOT ADOPTED A POLICY TO CAPITALIZE ITS COLLECTIONS; THEREFORE, IN ACCORDANCE WITH FASB 116, CONTRIBUTIONS OF ARTWORK ARE NOT RECOGNIZED IN REVENUE. IN THE EVENT OF THE SALE OF CONTIBUTED ARTWORK, THE SCHOOL RECOGNIZES THE PROCEEDS AND INCREASES THE APPROPRIATE CLASS OF NET ASSETS. PART V, LINE 4: SEE DETAILED DESCRIPTION OF THE INTENDED USE OF ENDOWMENT FUNDS ON THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS. PART X, LINE 2: THE SCHOOL HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE (IRC) SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN IRC SECTION 501(C)(3), QUALIFIES FOR CHARITABLE CONTRIBUTION DEDUCTIONS, AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION. THE SCHOOL IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE SCHOOL IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO ITS EXEMPT PURPOSE. THE SCHOOL ACCOUNTS FOR UNCERTAIN TAX PROVISIONS UNDER FASB ASC 740, INCOME TAXES, WHICH PROVIDES A FRAMEWORK FOR HOW ENTITIES SHOULD RECOGNIZE, MEASURE, PRESENT, AND DISCLOSE UNCERTAIN TAX POSITIONS IN THEIR FINANCIAL STATEMENTS. THE SCHOOL MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY 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. MANAGEMENT HAS REVIEWED THE SCHOOL'S REPORTING AND BELIEVES THEY HAVE NOT TAKEN TAX POSITIONS THAT ARE MORE LIKELY THAN NOT TO BE DETERMINED TO BE INCORRECT BY THE IRS AND, THEREFORE, NO ADJUSTMENTS OR DISCLOSURES ARE REQUIRED. THE SCHOOL IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS PENDING OR IN PROGRESS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COGS - INVENTORY 243. PART XI, LINE 4B - OTHER ADJUSTMENTS: TUITION REDUCED BY FINANCIAL AID 4,515,199. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS - INVENTORY 243. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION REDUCED BY FINANCIAL AID 4,515,199. 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 POLICY IS STATED IN LITERATURE AND BROCHURES PROVIDED TO ALL CURRENT AND POTENTIAL STUDENTS. IT IS ALSO PUBLISHED IN LOCAL NEWSPAPERS AND ON THE SCHOOL'S WEBSITE. 1 FINANCIAL AID GIVEN BY THE ORGANIZATION TO STUDENTS ATTENDING THE SCHOOL. 102 4515199 PART I, LINE 2: THE SCHOOL PROVIDES SIGNIFICANT AMOUNTS OF TUITION DEUCTIONS AND DISCOUNTS TO ITS STUDENTS BY CREDITING IT DIRECTLY TO STUDENT ACCOUNTS. X 1 1 X 0 0 0 0 0 0 0 0 0 DANIEL O'BRIEN HEAD OF SCHOOL/TRUSTEE 308064 0 0 0 0 0 7889 0 12554 0 328507 0 0 0 RANDALL SMITH TREASURER/CFO (LEFT 10/23) 208665 0 0 0 0 0 10433 0 12280 0 231378 0 0 0 JOHN BARRENGOS DIRECTOR OF ADMISSIONS 154386 0 0 0 0 0 7719 0 12825 0 174930 0 0 0 KAYLA YANNATOS DIRECTOR OF DEVELOPMENT 128802 0 0 0 0 0 10304 0 12547 0 151653 0 0 0 PART I, LINE 1A CERTAIN FACULTY ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF THEIR EMPLOYMENT. A NON-TAXABLE HOUSING BENEFIT IS INCLUDED IN SCHEDULE J, PART II, COLUMN E AND/OR FORM 990, PART VII, COLUMN F FOR THE FOLLOWING INDIVIDUALS: RANDALL SMITH AND DANIEL O'BRIEN. A VERMONT EDUCATIONAL AND HEALTH BUILDINGS FINANCING AGENCY 237154467 2022-05-17 13000000 CONSTRUCTION - REVENUE BONDS (THE PUTNEY SCHOOL PROJECT) 2022 SERIES A 0 0 0 A 13000000 8255020 4744980 0 0 0 1 A 0 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 X 13 64934 FMV X WEAVING/SEWING SUPPLIES AND EQUIPMENT 17 32848 FMV X PAINTING 1 11000 FMV X TRAVEL 1 5499 FMV X TABLE 2 2500 FMV X CATERING 1 1450 FMV X ROWING SUPPLIES 1 990 FMV X TELESCOPES AND ACCESSORIES 1 600 FMV X BOOKS 1 600 FMV X LAMP 1 200 FMV 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES MARY AND BRECK MONTAGUE HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED AND APPROVED BY THE HEAD OF SCHOOL AND THE CFO. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THE MEMBERS OF THE BOARD OF TRUSTEES SIGN A QUESTIONNAIRE TO REPORT ANY CONFLICT OF INTEREST. THE HEAD OF SCHOOL REVIEWS THE FORMS TO DETERMINE IF ANY CONFLICT OR POTENTIAL CONFLICT EXISTS. IF ANY INDIVIDUAL HAS A CONFLICT, THEY WOULD RECUSE THEMSELVES FROM DISCUSSION ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15A THE HEAD OF SCHOOL'S SALARY IS DETERMINED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD AND IS AVAILABLE FOR REVIEW BY ANY SCHOOL BOARD MEMBER. EXECUTIVE COMPENSATION FOR ALL EMPLOYEES, OTHER THEN THE HEAD OF SCHOOL, IS SET BY SCHOOL MANANGEMENT. MANAGEMENT INCREASES ARE TIED TO STAFF AND FACULTY INCREASES. THERE IS ALSO A SCALE ASSOCIATED WITH TIME SERVED FOR FACULTY. TO SET SALARIES, A COMPARISON IS DONE BETWEEN SIMILAR POSITIONS AT SCHOOLS IN THE INDEPENDENT SCHOOL ASSOCIATION OF NORTHERN NEW ENGLAND (ISANNE). OUR GOAL IS TO HAVE MANAGEMENT AT OR NEAR THE MEDIAN OF THEIR PEER GROUP. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: NO CHANGE FROM THE PRIOR YEAR.