2023-05-15T21:36:15-05:00 2022-06-30 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2021-07-01 221487233 KENT PLACE SCHOOL KENT 9082730900 42 NORWOOD AVENUE SUMMIT NJ 07901 GENEVIEVE MADIGAN CFO 9082730900 2023-05-15 1 GENEVIEVE MADIGAN XXX-XX-XXXX GARRETT M HIGGINS P00543209 9143818900 2023-05-15 0 AAL1 IAL1 2021 2023-04-26 12:10:37Z GENEVIEVE MADIGAN 42 NORWOOD AVENUE SUMMIT NJ 07901 46145320 0 X WWW.KENTPLACE.ORG X 1894 NJ THE ONLY NONSECTARIAN GIRLS' DAY SCHOOL IN NJ, KENT PLACE SCHOOL PROVIDES A RIGOROUS AND FULFILLING EDUCATION FOR 600+ STUDENTS IN KINDERGARTEN THROUGH GRADE 12 WITH A COED PRESCHOOL. 28 26 346 50 9075 4857 4919244 6449698 29827186 31612999 915396 1619836 -4278 460565 35657548 40143098 3697016 3901070 0 0 21612188 22532153 0 159090 2267852 10551907 10389625 35861111 36981938 -203563 3161160 74166254 73869767 10359534 10625619 63806720 63244148 X FOR OVER 125 YEARS, KENT PLACE SCHOOL HAS EMPOWERED GIRLS TO BE CONFIDENT, INTELLECTUAL, AND ETHICAL LEADERS WHO ADVANCE THE WORLD. 0 0 26691920 3901070 31680337 OUR KENT PLACE CURRICULUM AND PROGRAMS ARE RICH IN OPPORTUNITIES FOR STUDENTS TO DEVELOP ETHICAL DECISION-MAKING, CRITICAL THINKING, AND PROBLEM-SOLVING SKILLS. WE PROMOTE INTEGRITY, INITIATIVE, AND INCLUSION THROUGHOUT ALL OF THE SCHOOLING YEARS. OUR STUDENTS TAKE ON INCREASINGLY PROFOUND LEADERSHIP OPPORTUNITIES THAT FOSTER COLLABORATION AND SELF-AWARENESS WHILE ALSO CULTIVATING COMPASSION AND EMPATHY. WE BELIEVE THAT THE LESSONS AND VALUES ENCOURAGED BY OUR MULTI-TALENTED FACULTY PREPARE EACH STUDENT TO BE AN ACTIVE CONTRIBUTOR TO THE LARGER WORLD BEYOND KENT PLACE. KENT PLACE IS HOME TO A WIDE ARRAY OF CURRICULAR AND COCURRICULAR ACTIVITIES, AS WELL AS OUR SIGNATURE PROGRAMS SUCH AS THE GIRLS' LEADERSHIP INSTITUTE, NOW ENTERING ITS 26TH YEAR OF EMPOWERING GIRLS TO DISCOVER THEIR FULL LEADERSHIP POTENTIAL, AND OUR RENOWNED ETHICS INSTITUTE, WHICH PROMOTES THE PROCESS AND PRACTICE OF ETHICAL DECISION-MAKING IN PRIMARY AND SECONDARY SCHOOL COMMUNITIES. KENT PLACE ALSO OFFERS A TRADITIONAL SUMMER DAY CAMP, AFTERSCHOOL PROGRAMS, AND ENRICHMENT CLASSES. KENT PLACE HAS ENROLLED 667 STUDENTS FOR 2021-22, THE HIGHEST ENROLLMENT IN HISTORY, ATTRIBUTED TO AN ENROLLMENT BUMP IN THE PRIMARY SCHOOL. 26691920 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 1 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 99 0 346 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 28 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X GENEVIEVE MADIGAN 9082730900 42 NORWOOD AVENUE SUMMIT NJ 07901 X JENNIFER C GALAMBOS HEAD OF SCHOOL 40.00 X X 437431 0 138827 LORI MIRABAL TRUSTEE/MUSIC DIRECTOR 42.00 X 95712 0 9650 ANNE GRISSINGER PRESIDENT 2.00 X X 0 0 0 JENNIFER T GROGAN VICE PRESIDENT 2.00 X X 0 0 0 NANCY H VAN DUYNE VICE PRESIDENT 2.00 X X 0 0 0 DAVID B WYSHNER TREASURER 2.00 X X 0 0 0 LAWRENCE D JOHNSON II SECRETARY 2.00 X X 0 0 0 KC ARTEMENKO TRUSTEE 2.00 X 0 0 0 MARIA BRUGG TRUSTEE 2.00 X 0 0 0 TODD C BUILIONE TRUSTEE 2.00 X 0 0 0 KATHLEEN DEOSSIE TRUSTEE 2.00 X 0 0 0 NICOLE G EPPS TRUSTEE 2.00 X 0 0 0 PATRICIA L FAGIN TRUSTEE 2.00 X 0 0 0 RAHUL GOYAL TRUSTEE 2.00 X 0 0 0 PATRICIA GRUSHKIN TRUSTEE 2.00 X 0 0 0 SHANE HARRIS TRUSTEE 2.00 X 0 0 0 CLAUDIA HIRAWAT TRUSTEE 2.00 X 0 0 0 PING JI TRUSTEE 2.00 X 0 0 0 KATHERINE LYNCH TRUSTEE 2.00 X 0 0 0 KATIE MACHIR TRUSTEE 2.00 X 0 0 0 JOHN MARKELS TRUSTEE 2.00 X 0 0 0 ARJUN N MURTI TRUSTEE 2.00 X 0 0 0 NANCY W REYNOLDS TRUSTEE 2.00 X 0 0 0 NICOLE T RUSAS TRUSTEE 2.00 X 0 0 0 LORI A SHER TRUSTEE 2.00 X 0 0 0 DOUGLAS B SIEG TRUSTEE 2.00 X 0 0 0 SUNEET VARMA TRUSTEE 2.00 X 0 0 0 ALEXANDRA WALTER TRUSTEE 2.00 X 0 0 0 GENEVIEVE MADIGAN CHIEF FINANCIAL & OPERATING OFFICER 40.00 X 275698 0 55657 CORAL BROOKS DIRECTOR OF ADVANCEMENT 40.00 X 206963 0 60238 JULIA MORGAN ASSISTANT HEAD OF SCHOOL FOR TEACHING & LEARNING 40.00 X 206580 0 86375 KAREN REZACH DIRECTOR OF THE ETHICS INSTITUTE 40.00 X 223620 0 40758 JENNIFER SIMPSON DIRECTOR OF COLLEGE ADVISING 40.00 X 215223 0 27042 JULIA WALL ASSISTANT HEAD OF SCHOOL FOR ENROLLMENT & STRATEGY 40.00 X 211154 0 48746 1872381 0 467293 45 0 1 0 JOHN O'HARA COMPANY INC 25 KEARNEY STREET EAST ORANGE NJ 07017 CONSTRUCTION SERVICES 814191 AVI FOODSYSTEMS INC 2590 ELM ROAD NE WARREN OH 44483 FOOD SERVICES 710546 PATWOOD ROOFING CO INC 3 PECKMAN ROAD LITTLE FALLS NJ 07424 ROOFING SERVICES 360000 DIRECT CLEAN SERVICE SOLUTIONS 36-06 43RD AVENUE 2ND FLOOR LONG ISLAND CITY NY 11101 CLEANING SERVICES 334875 MIRIMUS INC 760 PARKSIDE AVENUE SUITE 206 BROOKLYN NY 11226 MEDICAL SERVICES 244642 9 16567 6433131 3691035 6449698 TUITION AND FEES 611600 30734339 30734339 AUXILIARY SERVICES 611600 878660 878660 31612999 729638 290 729348 339421 33851 305570 305570 305570 6440830 288229 5655192 183669 785638 104560 890198 8785 881413 68040 16567 36582 31458 31458 160266 92928 67338 67338 OTHER REVENUE 900099 56199 56199 56199 40143098 31680337 9075 2003988 3901070 3901070 894620 105519 789101 16859654 12617767 3147137 1094750 1193126 767063 371143 54920 2247693 1345680 719054 182959 1337060 959904 296638 80518 88469 88469 61005 61005 159090 159090 93799 93799 476204 199707 268615 7882 138501 4374 61071 73056 1184235 465953 443393 274889 602050 363136 129804 109110 1045077 907093 137984 369917 253097 47061 69759 1857 1857 2484512 2156457 328055 EDUCATIONAL PROGRAM 1013918 920691 49061 44166 DINING SERVICE FEES 864925 864925 REPAIRS AND MAINTENANCE 844872 734104 110768 OTHER OPERATING EXPENSE 479797 370201 109596 640487 125380 509807 5300 36981938 26691920 8022166 2267852 2469769 4397727 2029345 1354307 2150884 1349017 480756 75403 161334 113020 1735174 1580116 69803490 27706698 42770039 42096792 20494900 20123210 1873053 2765775 1000 14400 74166254 73869767 3084607 2917145 3274741 3886465 4000186 3822009 10359534 10625619 X 40459985 42634116 23346735 20610032 63806720 63244148 74166254 73869767 3161160 -3723732 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20129143 4214977 -2032651 447640 298384 21565445 19368498 413746 4131437 445246 363990 23104445 18781126 1282290 -11550 426011 257357 19368498 20422370 211628 713949 419541 2147280 18781126 20485277 1299099 1115219 448800 886723 21564072 0.26460 0.68610 0.04930 0 0 368323 368323 59504177 21506013 37998164 8823324 5915302 2908022 1107666 285383 822283 42096792 X 32587858 -3723732 163361 -3560371 36148229 93799 3901070 3994869 40143098 33150430 163361 163361 32987069 93799 3901070 3994869 36981938 PART V, LINE 4: THE ENDOWMENT SUPPORTS STUDENT FINANCIAL AID AND OTHER EDUCATIONAL PURPOSES SUCH AS PROFESSIONAL DEVELOPMENT FOR FACULTY AND STAFF. THE BEGINNING OF YEAR BALANCE OF THE ENDOWMENT FUNDS IN COLUMN (A) DIFFERS FROM THE END OF YEAR BALANCE IN COLUMN (B) DUE TO A REVIEW OF THE FUNDS CLASSIFIED AS PART OF THE ENDOWMENT, WHICH RESTATED THE PRESENTATION OF UNRESTRICTED BOARD DESIGNATED FUNDS. PART X, LINE 2: THE SCHOOL RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE SCHOOL HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE SCHOOL IS NO LONGER SUBJECT TO EXAMINATION BY THE APPLICABLE TAXING JURISDICTIONS FOR TAX YEARS PRIOR TO JUNE 30, 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD INCLUDED ON PART VIII, LINE 10B 92,928. SPECIAL EVENTS EXPENSE INCLUDED ON PART VIII, LINE 8B 36,582. RENT EXPENSES INCLUDED ON PART VIII, LINE 6B 33,851. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID INCLUDED ON PART IX, LINE 2 3,901,070. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD INCLUDED ON PART VIII, LINE 10B 92,928. SPECIAL EVENTS EXPENSE INCLUDED ON PART VIII, LINE 8B 36,582. RENT EXPENSES INCLUDED ON PART VIII, LINE 6B 33,851. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID INCLUDED ON PART IX, LINE 2 3,901,070. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 A STATEMENT OF POLICY IS PUBLISHED IN THE LEGAL ADVERTISEMENT SECTION OF LOCAL NEWSPAPERS. X X X X X 1 MARTS & LUNDY 160 CHUBB AVENUE SUITE 303 LYNDHURST NJ 07071 CAMPAIGN MANAGEMENT/COMMUNICATION 0 0 159090 -159090 159090 -159090 NJ SPRING FETE 84607 16567 68040 16677 12685 7220 84607 16567 68040 16677 12685 7220 36582 31458 SCHEDULE G, PART I, LINE 2B, COLUMN (V) MARTS & LUNDY WAS RETAINED FOR CAMPAIGN MANAGEMENT AND CAMPAIGN COMMUNICATION PLAN. THE AGREEMENT PROVIDES FOR THE PAYMENT FOR SERVICES OF 1) $3,000 PER MONTH FOR CAMPAIGN MANAGEMENT COUNSEL AND HOURLY RATE OF $500 IN EXCESS OF EIGHT HOURS PER MONTH; 2) FEE OF $14,500 FOR CAMPAIGN COMMUNICATION PLAN AND HOURLY RATE OF $550 FOR ADDITIONAL WRITING/COMMUNICATION. 1 FINANCIAL AID 120 3901070 PART I, LINE 2: FINANCIAL AID IS PROVIDED TO STUDENTS IN NEED IN ACCORDANCE WITH A SPECIFIC APPLICATION PROCESS THAT INVOLVES THE USE OF FINANCIAL AID ASSESSMENT SOFTWARE AND FILE REVIEW BY THE ADMISSIONS OFFICE AND OTHER SELECTED INDIVIDUALS INCLUDING THE CHIEF FINANCIAL AND OPERATING OFFICER. GRANTS ARE PROVIDED IN THE FORM OF FINANCIAL AID AND CAN ONLY BE USED TO REDUCE THE COST OF TUITION AND APPLICABLE STUDENT FEES ON A STUDENT'S ENROLLMENT CONTRACT FOR THE SCHOOL YEAR. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 JENNIFER C GALAMBOS HEAD OF SCHOOL 407502 0 0 0 29929 0 35797 0 103030 0 576258 0 0 0 GENEVIEVE MADIGAN CHIEF FINANCIAL & OPERATING OFFICER 252202 0 0 0 23496 0 13681 0 41976 0 331355 0 0 0 JULIA MORGAN ASSISTANT HEAD OF SCHOOL FOR TEACHIN 189746 0 0 0 16834 0 24780 0 61595 0 292955 0 0 0 CORAL BROOKS DIRECTOR OF ADVANCEMENT 193351 0 0 0 13612 0 10750 0 49488 0 267201 0 0 0 KAREN REZACH DIRECTOR OF THE ETHICS INSTITUTE 203342 0 0 0 20278 0 25120 0 15638 0 264378 0 0 0 JULIA WALL ASSISTANT HEAD OF SCHOOL FOR ENROLLM 193039 0 0 0 18115 0 16400 0 32346 0 259900 0 0 0 JENNIFER SIMPSON DIRECTOR OF COLLEGE ADVISING 195997 0 0 0 19226 0 23822 0 3220 0 242265 0 0 0 PART I, LINE 1A AS OUTLINED IN THE EMPLOYMENT AGREEMENTS WITH THE SCHOOL, THE HEAD OF SCHOOL IS REQUIRED TO RESIDE ON CAMPUS TO MEET THE ONGOING NEEDS OF THE SCHOOL COMMUNITY UNDER SECTION 119. THE SCHOOL PROVIDED THE HEAD OF SCHOOL WITH A HOUSING ALLOWANCE IN THE AMOUNT OF $82,866. THE HOUSING ALLOWANCE WAS TREATED AS NONTAXABLE COMPENSATION AND REPORTED ON SCHEDULE J, PART II, COLUMN D. A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 000000000 2016-10-25 10000000 REFINANCING 2013 BOND & RENOVATION 0 0 0 A 1018518 5022087 106000 1090000 3826087 2016 0 0 1 1 A 0 0 1 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 0 0 0 0 0 A 0 X 13 3691035 SALES PRICE 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS IN PART I, COLUMN (B). FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM. THE FORM 990 IS REVIEWED AND APPROVED BY THE AUDIT COMMITTEE. ONCE APPROVED, A REDACTED COPY OF THE RETURN WITH SCHEDULE B REMOVED IS THEN MADE AVAILABLE TO THE BOARD ELECTRONICALLY FOR FINAL APPROVAL AT A SCHEDULED BOARD MEETING. THE FORM IS ALSO MADE AVAILABLE TO BOARD MEMBERS FOR 7 DAYS PRIOR TO FILING SHOULD THERE BE ANY ADDITONAL QUESTIONS. FORM 990, PART VI, SECTION B, LINE 12C KENT PLACE SCHOOL HAS A CONFLICT OF INTEREST POLICY THAT APPLIES TO BOARD MEMBERS AND OFFICERS. EACH BOARD MEMBER AND OFFICER MUST ANNUALLY SIGN AND SUBMIT THE CONFLICT OF INTEREST STATEMENT TO THE COMMITTEE ON TRUSTEESHIP CHAIR DISCLOSING THEIR AWARENESS OF THE POLICY AND DISCLOSING ANY POTENTIAL CONFLICTS OF INTEREST. IF A POTENTIAL OR ACTUAL CONFLICT IS DISCLOSED AT ANY TIME, THE BOARD PRESIDENT WILL REVIEWS THE MATERIAL FACTS AND CIRCUMSTANCES AND FOLLOW-UP ON THE NON-COMPLIANCE. IF IT IS ESTABLISHED THAT AN ACTUAL CONFLICT EXISTS, THE INDIVIDUAL WILL BE NOTIFIED IMMEDIATELY AND WILL NOT BE ALLOWED TO VOTE OR BE A PART OF ANY DISCUSSIONS ABOUT ANY SUCH TRANSACTIONS THAT HAVE TO DO WITH THE CONFLICT UNTIL THE CONFLICT IS RESOLVED. ANY DISCUSSION REGARDING THE CONFLICT OF INTEREST TRANSACTION IS DOCUMENTED IN THE MINUTES OF THE BOARD MEETINGS, REFLECTING THE CONFLICT OF INTEREST THAT WAS DISCLOSED, THE NAME OF THE INTERESTED PERSON, AND THE FINAL DETERMINATION AND DECISION. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION COMMITTEE, CONSISTING OF BOARD OF TRUSTEE MEMBERS, REVIEWS THE PERFORMANCE OF THE HEAD OF SCHOOL AND COMPARES COMPENSATION TO ITS PEERS BASED ON SURVEYS PERFORMED BY SCHOOL ASSOCIATIONS AND INDEPENDENT COMPENSATION CONSULTANT. THE COMMITTEE REVIEWS THE KEY DATA AND PROVIDES A RECOMMENDATION TO THE PRESIDENT OF THE BOARD OF TRUSTEES. THE COMPENSATION DECISION DOCUMENTED IN THE RECORDS OF THE ORGANIZATION. THIS PROCESS WAS LAST COMPLETED IN FISCAL YEAR 2022. FOR OTHER OFFICER, THE HEAD OF SCHOOL DETERMINES COMPENSATION BASED ON AN ANNUAL PERFORMANCE REVIEW AND PERIODICALLY COMPARES COMPENSATION TO THAT OF THEIR PEERS BASED ON SURVEYS PERFORMED BY SCHOOL ASSOCIATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE BY WRITTEN REQUEST AT 42 NORWOOD AVENUE, SUMMIT, NJ 07901. FORM 990, PART VII: LORI MIRABAL DOES NOT RECEIVE COMPENSATION AS A TRUSTEE OF THE BOARD. SHE RECEIVES COMPENSATION FOR SERVICES PERFORMED AS THE MUSIC DIRECTOR. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.