2023-05-15T07:42:12-05:00 2022-06-30 010448006 ALBIN RANDALL & BENNETT PO BOX 445 130 MIDDLE STREET PORTLAND ME 041120445 990 2021-07-01 010211565 WAYNFLETE SCHOOL WAYN 2077745721 360 SPRING STREET PORTLAND ME 041023643 TRACI DOWD BUSINESS OFFICE MANAGER 2077745721 2023-05-12 1 TRACI DOWD 999009999 JASON C LEBLANC P01212079 2077721981 2023-05-12 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z GEOFFREY WAGG 360 SPRING STREET PORTLAND ME 041023643 32103793 0 X WWW.WAYNFLETE.ORG X 1935 ME TO OFFER LOWER, MIDDLE AND UPPER SCHOOL EDUCATION WHICH ENGAGES THE IMAGINATION AND INTELLECT OF ITS STUDENTS, GUIDES THEM TOWARDS SELF-GOVERNANCE AND SELF-KNOWLEDGE AND ENCOURAGES THEIR RESPONSIBLE AND CARING PARTICIPATION IN THE WORLD. 22 22 295 50 14877 1975 1778372 3292249 19763564 20614024 1480925 1570291 2666 -17206 23025527 25459358 5327861 5203618 0 0 12741652 12567762 0 0 523121 4258998 3951998 22328511 21723378 697016 3735980 64743291 63324930 26401599 23972454 38341692 39352476 TO OFFER LOWER, MIDDLE AND UPPER SCHOOL EDUCATION WHICH ENGAGES THE IMAGINATION AND INTELLECT OF ITS STUDENTS, GUIDES THEM TOWARDS SELF-GOVERNANCE AND SELF-KNOWLEDGE AND ENCOURAGES THEIR RESPONSIBLE AND CARING PARTICIPATION IN THE WORLD. 0 0 18217728 5203618 20614024 PRIVATE EARLY CHILDHOOD, ELEMENTARY, MIDDLE AND SECONDARY EDUCATION UTILIZED BY APPROXIMATELY 576 STUDENTS. 18217728 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 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 45 0 1 295 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X CARRIE MCCOLGAN 2077745721 360 SPRING STREET PORTLAND ME 04102 ADAN ABUKAR TRUSTEE 2.00 X 0 0 0 ARMSTRONG KATHERINE TRUSTEE 2.00 X 0 0 0 ARONSON KRISTA TRUSTEE 2.00 X 0 0 0 BURNHAM KATE TRUSTEE 2.00 X 0 0 0 CANNING MARIA TRUSTEE 2.00 X 0 0 0 COHEN BRANDON TRUSTEE 2.00 X 0 0 0 DEVINE BEN TRUSTEE 2.00 X 0 0 0 DUFAUCHARD NICOLE TRUSTEE 2.00 X 0 0 0 LEWIS DALE TRUSTEE 2.00 X 0 0 0 LI EDWARD TRUSTEE 2.00 X 0 0 0 MARCH COLIN TRUSTEE 2.00 X 0 0 0 PORTA JED TRUSTEE 2.00 X 0 0 0 SCHAIR JUSTIN TRUSTEE 2.00 X 0 0 0 SEMMES ELONIDE TRUSTEE 2.00 X 0 0 0 SHINN DEBORAH TRUSTEE 2.00 X 0 0 0 SMITH CHRISTOPHER MEMBER AT LARGE 2.00 X 0 0 0 UMMAH KHALILAH TRUSTEE 2.00 X 0 0 0 VALDMANIS WARREN TRUSTEE 2.00 X 0 0 0 CLOUDMAN CATHERINE PRESIDENT 2.00 X X 0 0 0 LANGER BETSY SECRETARY 2.00 X X 0 0 0 SOLEY TIM VICE PRESIDENT 2.00 X X 0 0 0 TROIANO JEFF TREASURER 2.00 X X 0 0 0 WAGG GEOFF HEAD OF SCHOOL 50.00 X 342022 0 119566 MCCOLGAN CARRIE DIR OF FINANCE & OPERATION 50.00 X 103539 0 18501 BREEN LYNNE M FINLEY DEAN OF ADMISSION 50.00 X 125165 0 36934 HOPKINS ANNE SCRIBNER LOWER SCHOOL DIRECTOR 50.00 X 114600 0 30197 MURALIDHARA DIVYA MIDDLE SCHOOL DIRECTOR 50.00 X 114600 0 21698 PAGENSTECHER MARY JANE DIRECTOR OF PERFORMING ARTS 50.00 X 100539 0 39792 THURSTON JOHN COLLEGE COUNSELOR 50.00 X 102731 0 19246 1003196 0 285934 8 0 1 0 SHAW BROTHERS CONSTRUCTION INC 341 MOSHER RD GORHAM ME 04038 CONSTRUCTION 559533 CUSTOM COACH OF PORTLAND 19 BARTLETT ROAD GORHAM ME 04038 TRANSPORTATION SERVICES 114673 2 1544592 1747657 25987 3292249 TUITION 611600 19085513 19085513 TUTORING 611600 389539 389539 AFTER SCHOOL & LESSONS 611600 322666 322666 SUMMER PROGRAMS 611600 316319 316319 CAFETERIA 722210 300722 300722 199265 199265 20614024 1184813 14877 1169936 20740 42953 -22213 -22213 -22213 6981971 6596493 385478 385478 385478 9996 4989 5007 5007 25459358 20614024 14877 1538208 5203618 5203618 465149 435226 29923 9180338 7793025 1120960 266353 2250580 1976024 219021 55535 671695 534082 117401 20212 51828 51828 27809 27809 73624 73624 41532 40246 1286 231828 62103 135584 34141 269688 269688 80709 76841 169 3699 544615 544615 909071 909071 115236 115236 MAINTENANCE, SUPPLIES, 1351183 1075955 180765 94463 MISCELLANEOUS 176094 147973 23134 4987 DUES & SUBSCRIPTIONS 67565 13866 39891 13808 BAD DEBT EXPENSE 5680 5680 5536 5536 21723378 18217728 2982529 523121 6157621 8384513 3068078 2381278 897393 709256 6343 3956 360345 321843 39105738 14504052 23882801 24601686 24669090 19472529 5699318 7448436 2302 1433 64743291 63324930 1958201 1884635 3350395 3963106 17794585 17327364 1525575 1772843 797349 26401599 23972454 X 23993389 26644127 14348303 12708349 38341692 39352476 64743291 63324930 X 3735980 -3808542 52772 -494045 1524619 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 30530742 320251 -2329584 358310 726032 179857 27257210 24013745 652012 7118549 525321 587199 141044 30530742 25438957 225049 -429180 344449 685533 191099 24013745 25394577 326620 911505 375603 646627 171515 25438957 24060840 722519 1770240 317891 663862 177269 25394577 0.60532 0.31376 0.08092 0 0 714802 714802 36148356 12728111 23420245 474323 397210 77113 1768257 1378731 389526 24601686 HEDGE FUND 7448436 F 7448436 INTEREST RATE SWAP LIABILITY 742270 CAPITAL LEASE OBLIGATIONS 55079 797349 X 17993227 -3808542 52772 1572561 -2183209 20176436 73624 5209298 5282922 25459358 16488398 47942 47942 16440456 73624 5209298 5282922 21723378 PART V, LINE 4: WAYNFLETE HAS A POLICY OF APPROPRIATING FUNDS FOR DISTRIBUTION EACH YEAR EQUAL TO 5% OF ITS ENDOWMENT FUND'S AVERAGE FAIR VALUE OVER THE PRIOR 12 QUARTERS THROUGH THE FISCAL YEAR-END PRECEDING THE FISCAL YEAR IN WHICH THE DISTRIBUTION IS PLANNED. IN ACCORDANCE WITH UPMIFA, THE SCHOOL CONSIDERS THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS: THE DURATION AND PRESERVATION OF THE FUND; THE PURPOSES OF THE SCHOOL AND DONOR-RESTRICTED ENDOWMENT FUND; GENERAL ECONOMIC CONDITIONS; THE POSSIBLE EFFECT OF INFLATION AND DEFLATION; THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS; OTHER RESOURCES OF THE SCHOOL; AND THE INVESTMENT POLICIES OF THE SCHOOL. PART X, LINE 2: U.S. GAAP PRESCRIBES A COMPREHENSIVE MODEL FOR HOW AN ORGANIZATION SHOULD MEASURE, RECOGNIZE, PRESENT, AND DISCLOSE IN ITS FINANCIAL STATEMENTS UNCERTAIN TAX POSITIONS THAT THE SCHOOL HAS TAKEN OR EXPECTS TO TAKE ON A TAX RETURN. THE SCHOOL RECOGNIZES THE TAX BENEFITS FROM UNCERTAIN TAX POSITIONS 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. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH POSITIONS ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE SCHOOL DOES NOT BELIEVE IT HAS TAKEN A POSITION ON ITS TAX RETURNS WHICH WOULD REQUIRE THE RECOGNITION OF A TAX BENEFIT AND, ACCORDINGLY, NO ADJUSTMENT TO THE FINANCIAL STATEMENTS HAS BEEN MADE. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 42,953. UNREALIZED GAIN ON INTEREST RATE SWAP 1,524,619. SPECIAL EVENT EXPENSES 4,989. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 5,203,618. BAD DEBT EXPENSE 5,680. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 42,953. SPECIAL EVENT EXPENSE 4,989. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 5,203,618. BAD DEBT EXPENSE 5,680. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THIS POLICY IS ALSO LOCATED ON THE SCHOOL'S WEBSITE: WAYNFLETE ADMITS STUDENTS OF ANY RACE, COLOR, RELIGIOUS AFFILIATION, NATIONAL AND ETHNIC ORIGIN, AND WITHOUT REGARD TO DISABILITY, TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE SCHOOL. IT DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, RELIGIOUS AFFILIATION, NATIONAL AND ETHNIC ORIGIN, OR DISABILITY IN ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSIONS POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, AND ATHLETIC AND OTHER SCHOOL-ADMINISTERED PROGRAMS. 1 FINANCIAL AID 228 5203618 TUITION ASSISTANCE FINANCIAL AID X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 WAGG GEOFF HEAD OF SCHOOL 288692 0 0 0 53330 0 19487 0 100079 0 461588 0 0 0 BREEN LYNNE M FINLEY DEAN OF ADMISSION 125165 0 0 0 0 0 8449 0 28485 0 162099 0 0 0 SCHEDULE J, PART II GEOFF WAGG'S OTHER COMPENSATION TOTALING $53,331 INCLUDES TUITION PAYMENTS OF $35,465 FOR HIS CHILD AND RELATED TAX GROSS-UP ON TUITION IN THE AMOUNT OF $17,866. MR. WAGG'S NON-TAXABLE BENEFITS, WHICH INCLUDE THE EMPLOYER AND EMPLOYEE PORTION OF PREMIUMS PAID, ARE ITEMIZED BELOW: 30,110 HEALTH INSURANCE 1,590 DENTAL INSURANCE 2,750 HEALTH REIMBURSEMENT PLAN 65,629 HOUSING ALLOWANCE ------ 100,079 NON-TAXABLE BENEFIT MS. BREEN'S NON-TAXABLE BENEFITS, WHICH INCLUDE THE EMPLOYER AND EMPLOYEE PORTION OF PREMIUMS PAID, ARE ITEMIZED BELOW: 24,758 HEALTH INSURANCE 977 DENTAL INSURANCE 2,750 HEALTH REIMBURSEMENT PLAN ------ 28,485 NON-TAXABLE BENEFIT A FINANCE AUTHORITY MAINE 010392006 56042BBM8 2014-10-30 10360000 REFINANCE 2007 BOND 0 0 0 B FINANCE AUTHORITY MAINE 010392006 56042BBM8 2014-10-30 9640000 FINANCE CAPITAL PROJECTS 0 0 0 A 10360000 210000 10150000 2008 0 1 1 1 B 9640000 9640000 2018 0 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 1 1 1 1 WELLS FARGO BANK NA 22.900000000000 0 0 0 0 1 B 0 0 1 1 1 1 M&T BANK 12.000000000000 0 0 0 1 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: FINANCE AUTHORITY MAINE DATE THE REBATE COMPUTATION WAS PERFORMED: 10/28/2022 ISSUER NAME: FINANCE AUTHORITY MAINE DATE THE REBATE COMPUTATION WAS PERFORMED: 10/28/2022 INTERESTED PERSON 11480 QUALIFYING NEED-BASED FINANCIAL AID TUITION ASSISTANCE X 5 25987 STOCK EXCHANGE FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST IS MONITORED EVERY YEAR, AS THE TRUSTEES ARE ASKED TO COMPLETE A FORM ANNUALLY. IF A CONFLICT EXISTS, IT IS DISCUSSED AND RESOLVED AT THE BOARD LEVEL. TRUSTEES RECUSE THEMSELVES FROM A VOTE WHEN A CONFLICT ARISES. ENFORCEMENT IS PART OF THE GOVERNING PROCESS. FORM 990, PART VI, SECTION B, LINE 15A MR WAGG'S COMPENSATION WAS DETERMINED BY CHRISTOPHER SMITH, TIM SOLEY AND VIN VERONEAU , MEMBERS OF THE EVALUATION AND COMPENSATION COMMITTEE OF THE BOARD, AFTER REVIEWING COMPARATIVE DATA FROM PEER SCHOOLS. THEY EXAMINED SALARIES FOR HEADS OF SCHOOL WHO HAD SERVED FEWER THAN 10 YEARS AT SCHOOLS IN OUR COMPARISON GROUP AND ADJUSTED MR. WAGG'S COMPENSATION TO BRING IT CLOSER TO THE MEDIAN SALARY OF HIS PEERS. THE EVALUATION AND COMPENSATION COMMITTEE RECOMMENDED THE SALARY (WHICH INCLUDED THE BASE SALARY, TUITION AND TUITION GROSS-UP CALCULATION FOR ONE CHILD) TO THE FULL BOARD OF TRUSTEES. MR. WAGG'S RENEWED CONTRACT AND SALARY WERE APPROVED BY THE BOARD OF TRUSTEES. TOTAL COMPENSATION AND BENEFITS REPORTED ON SCHEDULE J INCLUDE $288,692 FOR BASE COMPENSATION, $35,465 FOR TUITION FOR HIS CHILD AND TAX GROSS-UP ON THE TUITION IN THE AMOUNT OF $17,866, $34,450 FOR EMPLOYER AND EMPLOYEE CONTRIBUTIONS FOR HEALTH AND DENTAL PLANS, EMPLOYEE HEALTH REIMBURSEMENT PLAN AND $65,629 FOR THE REPORTABLE HOUSING VALUATION FOR HIS CONTRACTUAL OBLIGATION TO LIVE ON CAMPUS. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON INTEREST RATE SWAP 1,524,619. PART XII, LINE 2C PROCEDURES FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT DID NOT CHANGE FROM PRIOR YEARS.