2025-05-08T12:33:44-05:00 2024-06-30 331498605 PLANTE & MORAN PLLC 10 S RIVERSIDE PLAZA 9TH FLOOR CHICAGO IL 60606 990 2023-07-01 362258525 THE LATIN SCHOOL OF CHICAGO LATI 3125826012 59 W NORTH BLVD CHICAGO IL 60610 THOMAS HAGERMAN HEAD OF SCHOOL 3125826012 2025-05-02 1 1 LU ANN TRAPP P01506476 3122071040 2025-04-28 2023 2025-03-06 01:10:19Z THOMAS HAGERMAN 59 W NORTH BLVD CHICAGO IL 60610 110916568 0 X WWW.LATINSCHOOL.ORG X 1954 IL AN INDEPENDENT CO-ED JUNIOR KINDERGARTEN-12TH GRADE DAY SCHOOL. 36 36 577 250 310740 0 4308547 4860811 48331381 51155268 1181121 1937638 419430 234331 54240479 58188048 4285635 5118654 0 0 37094953 37049198 0 0 1448289 15060532 15689740 56441120 57857592 -2200641 330456 154205950 157639932 43184706 39913248 111021244 117726684 X IT IS THE SCHOOL'S MISSION TO PROVIDE ITS STUDENTS WITH A RIGOROUS AND INNOVATIVE EDUCATIONAL PROGRAM THAT EMBRACES DIVERSITY OF PEOPLE, CULTURES AND IDEAS. LATIN INSPIRES ITS STUDENTS TO LEAD LIVES OF PURPOSE AND EXCELLENCE. 0 0 44922919 5118654 49746245 INSTRUCTION AND STUDENT SUPPORT ACTIVITIES-FOUNDED IN 1888, THE LATIN SCHOOL OF CHICAGO IS AN INDEPENDENT COEDUCATIONAL DAY SCHOOL FOR GRADES JUNIOR KINDERGARTEN-12. THE STUDENTS: A DIVERSE COMMUNITY OF 1,190 STUDENTS IN JUNIOR KINDERGARTEN-12 FROM CHICAGO AND THE SURROUNDING SUBURBS.THE FACULTY: CARING, EXPERIENCED PROFESSIONALS, OVER 87% OF WHOM HAVE EARNED A MASTER'S DEGREE OR HIGHER. THE STUDENT FACULTY RATIO IS 8:1.ACADEMICS: LATIN OFFERS A RIGOROUS COLLEGE PREPARATORY CURRICULUM THAT ENCOURAGES INDEPENDENCE, CREATIVITY AND (CONTINUED ON SCHEDULE O) CURIOSITY WITH AN EMPHASIS ON INTERDISCIPLINARY LEARNING.FINANCIAL AID: THE SCHOOL ASSISTS STUDENTS WHO OTHERWISE MAY NOT BE FINANCIALLY ABLE TO ATTEND SCHOOL. APPROXIMATELY 12.6% OF THE STUDENT BODY RECEIVES FINANCIAL AID. 2783449 1272789 SUMMER AND STUDENT SUPPORT SERVICES: THESE PROGRAMS INCLUDE SUMMER AT LATIN AND THE EXTENDED DAY PROGRAM. SUMMER AT LATIN PROVIDES A HIGH QUALITY EDUCATIONAL AND RECREATIONAL OPPORTUNITY FOR CHILDREN OF ALL AGES. THE SUMMER STAFF IS COMMITTED TO OFFERING A SAFE, NURTURING COMMUNITY THAT ALIGNS WITH THE VALUES OF THE SCHOOL WHERE PURSUIT OF KNOWLEDGE COMPLEMENTS INDIVIDUAL GROWTH. THE EXTENDED DAY PROGRAM SUPPORTS LATIN FAMILIES BY OFFERING A SAFE FUN PROGRAM BEFORE AND AFTER THE SCHOOL DAY FOR STUDENTS ENROLLED IN JUNIOR KINDERGARTEN THROUGH 4TH GRADE. THE PROGRAM PROVIDES A BALANCE OF ORGANIZED ACTIVITY AND FREE TIME. 47706368 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 0 1 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 1 0 0 0 0 1 83 0 1 577 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 36 36 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X THOMAS HAGERMAN 3125826012 59 W NORTH BLVD CHICAGO IL 606101492 X EDWARD BENFORD TRUSTEE 2.00 0.00 X 0 0 0 ROBERT CHAPMAN CHAIR 10.00 0.00 X X 0 0 0 DIANE SALTOUN SECRETARY 10.00 0.00 X X 0 0 0 DARREN SNYDER TREASURER 10.00 0.00 X X 0 0 0 JYOTI PATEL VICE CHAIR 10.00 0.00 X X 0 0 0 DARA MILNER TRUSTEE 2.00 0.00 X 0 0 0 VINCE COZZI TRUSTEE 2.00 0.00 X 0 0 0 CHRIS SWEENEY TRUSTEE 2.00 0.00 X 0 0 0 CHRISTOPHER KEOGH TRUSTEE 2.00 0.00 X 0 0 0 COLLEEN BATCHELER TRUSTEE 2.00 0.00 X 0 0 0 ALEJANDRO LONGORIA TRUSTEE 2.00 0.00 X 0 0 0 ALEX ABELL TRUSTEE 2.00 0.00 X 0 0 0 TANYA POLSKY TRUSTEE 2.00 0.00 X 0 0 0 NICOLE MANN TRUSTEE 2.00 0.00 X 0 0 0 JENNIFER CIZNER TRUSTEE 2.00 0.00 X 0 0 0 ERIN AMICO TRUSTEE 2.00 0.00 X 0 0 0 DAIONE MITCHELL TRUSTEE 2.00 0.00 X 0 0 0 DENISE GIBSON TRUSTEE 2.00 0.00 X 0 0 0 PETER JACKSON TRUSTEE 2.00 0.00 X 0 0 0 CARRIE PARR TRUSTEE 2.00 0.00 X 0 0 0 JENNIFER PEEPLES TRUSTEE 2.00 0.00 X 0 0 0 PAUL FURLOW TRUSTEE 2.00 0.00 X 0 0 0 MAURY TOGNARELLI TRUSTEE 2.00 0.00 X 0 0 0 RAFAEL SANTANA TRUSTEE 2.00 0.00 X 0 0 0 JEFF SHARP TRUSTEE 2.00 0.00 X 0 0 0 SARAH NORRIS TRUSTEE 2.00 0.00 X 0 0 0 GURPREET SINGH TRUSTEE 2.00 0.00 X 0 0 0 VAL VLAHOS TRUSTEE 2.00 0.00 X 0 0 0 NILS LARSEN TRUSTEE 2.00 0.00 X 0 0 0 DONALD LASSIERE TRUSTEE 2.00 0.00 X 0 0 0 ANDRES MENDOZA PENA TRUSTEE 2.00 0.00 X 0 0 0 ABBY PHELPS TRUSTEE 2.00 0.00 X 0 0 0 RYAN HARRIS TRUSTEE 2.00 0.00 X 0 0 0 CHARLIE TRIBBETT TRUSTEE 2.00 0.00 X 0 0 0 OLUMIDE AJIGINNI TRUSTEE 2.00 0.00 X 0 0 0 LINA WEI TRUSTEE 2.00 0.00 X 0 0 0 THOMAS HAGERMAN HEAD OF SCHOOL 50.00 0.00 X 657714 0 49816 MICHAEL SZCZEPANEK CFO 50.00 0.00 X 309758 0 111404 DOROTHY BRIS-BOIS CHIEF DEVELOPMENT OFFICER 50.00 0.00 X 248252 0 27187 BLISS TOBIN LS DIRECTOR 50.00 0.00 X 182173 0 56867 SUSAN BOLON HR DIRECTOR 50.00 0.00 X 206281 0 13469 INGRID DORER FITZPATRICK DIRECTOR ACADEMIC INITIATIVES 50.00 0.00 X 178867 0 26284 DEBRA SAMPEY MS DIRECTOR - THRU 06/2023 50.00 0.00 X 198574 0 143470 SHELLEY GREENWOOD ASSIST. HEAD OF SCHOOL-THRU 06/2023 50.00 0.00 X 278279 0 284840 2259898 0 713337 70 1 1 0 FLIK INTERNATIONAL 2400 YORKMONT ROAD CHARLOTTE NC 28217 FOOD SERVICE 2410132 JPC DEVELOPMENT 1400 N PROVENDENCE RD SUITE 3500 MEDIA PA 19063 CONSTRUCTION 1903060 IDEAL CHARTER 7501 W MEMORIAL ROAD OKLAHOMA CITY OK 73142 BUS SERVICES 411876 HUSCH BLACKWELL PO BOX 790379 ST LOUIS MO 63179 LEGAL 384953 PAYCOM PAYROLL 9982 ANDERSON UNIT A CHICAGO IL 60415 PAYROLL 228521 13 1898326 2962485 248080 4860811 TUITION AND FEES 900099 49746245 49746245 SUMMER PROGRAMS 900099 585354 585354 AFTER SCHOOL PROGRAMS 900099 544123 544123 LUNCH ROOM 611710 136234 136234 ATHLETIC CLUBS 900099 121864 121864 21448 21448 51155268 1516838 533 1516305 310207 0 310207 310207 310207 52868650 52447850 420800 420800 420800 0 1898326 222621 -222621 -222621 79281 58049 21232 21232 MISC. REVENUE 900099 125513 125513 125513 58188048 51019034 310740 1997463 5118654 5118654 1528933 1379261 149672 25484326 22928401 2038596 517329 1647097 1216051 366150 64896 6574921 4854264 1461605 259052 1813921 1339218 403235 71468 610793 610793 81132 81132 35000 35000 343041 195617 147424 115956 21556 83808 10592 554224 120558 385987 47679 465608 285837 171598 8173 2050719 1845647 205072 371036 367709 3327 90311 82285 8026 1975084 1777576 197508 3558897 3203007 355890 737227 737227 STUDENT LIFE PROGRAMS 2611523 2611523 INSTRUCTION AND ACADEMI 1566539 1566539 INSTITUTIONAL SUPPORT 350724 31296 319428 SUMMER PROGRAMS 171926 171926 57857592 47706368 8702935 1448289 3001841 2484206 694480 233813 382462 213041 113788 45702 53506 67638 480487 592834 119770944 50159241 69821845 69611703 22824740 43986769 53604102 37171972 3228699 3232254 154205950 157639932 5891084 4041658 2862152 3346056 9871033 8585212 22200000 22200000 2360437 1740322 43184706 39913248 X 54263349 57728736 56757895 59997948 111021244 117726684 154205950 157639932 X 330456 6312705 62279 X X 0 1 X 1 0 X 5343657 4999495 3934633 4308547 4860811 23447143 5343657 4999495 3934633 4308547 4860811 23447143 23447143 1068458 465876 604098 1460780 1826512 5425724 26759 26759 278641 129398 168614 137186 125513 839352 29738978 234736736 0.78840 0.78370 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 67169944 3252722 7761078 2335462 808167 -34700 75074815 63146378 829473 6236978 784936 2291240 -33291 67169944 76824202 592431 -11174918 784935 2342241 -31839 63146378 60898960 1423008 17163636 660239 2044232 -43069 76824202 60732786 3312300 -629333 602950 1936786 -22943 60898960 0.21104 0.62178 0.16718 0 0 12314405 12314405 65740081 33173879 32566202 28752948 12019882 16733066 12862081 4965480 7896601 101429 101429 69611703 PRIVATE EQUITY FUND 4137583 F LARGE CAP EQUITY FUND 4550794 F INTERNATIONAL EQUITY FUND 10774406 F HEDGE FUNDS 7207836 F ABSOLUTE RETURN FUND 7547169 F SMALL CAP EQUITY FUND 2954184 F 37171972 POSTRETIREMENT HEALTH BENEFITS 573331 DEFERRED COMPENSATION 1166991 1740322 60156926 6312705 774827 7087532 53069394 5118654 5118654 58188048 53451486 58049 58049 53393437 4464155 4464155 57857592 PART V, LINE 4: THE SCHOOL'S ENDOWMENT FUND IS USED TO SUPPORT OPERATIONS, FINANCIAL AID, AND PROFESSIONAL AND CURRICULUM DEVELOPMENT. PART XI, LINE 2D - OTHER ADJUSTMENTS: COGS - NETTED AGAINST REVENUE 58,049. GAIN ON INTEREST RATE SWAP 62,279. SWAP INTEREST EXPENSE NETTED AGAINST INVESTMENT INCOME 654,499. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED AGAINST TUITION AND FEES ON AUDIT 5,118,654. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS - NETTED AGAINST REVENUE 58,049. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED AGAINST TUITION AND FEES ON AUDIT 5,118,654. SWAP INTEREST EXPENSE NETTED AGAINST INVESTMENT INCOME -654,499. 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 GIVES NOTICE OF ITS RACIAL AND OTHER NON-DISCRIMINATION POLICIES ON ITS WEBSITE AND A MAJORITY OF ITS PUBLICATIONS USED TO MARKET THE SCHOOL AND ITS PROGRAMS. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENT 3008178 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENT 15178977 0 0 0 0 0 0 18187155 0 18187155 1 0 1 0 1 0 PART I LINE 3 COL (F) HEDGE FUND MANAGERS FOR THE SCHOOL'S ENDOWMENT FUND. ANNUAL GALA 1898326 1898326 222621 1898326 1898326 222621 222621 -222621 1 0 0 SCHOLARSHIPS 145 5118654 FMV REDUCED TUITION PAYMENTS PART I LINE 2: THE SCHOOL USES AN OUTSIDE THIRD PARTY, FAST TUITION MANAGEMENT, TO COMPILE FINANCIAL AID APPLICANT PERSONAL INFORMATION AND TAX INFORMATION. FAST COMPUTES A FINANCIAL AID RECOMMENDATION. THE SCHOOL'S DIRECTOR OF FINANCIAL AID AND THE FINANCIAL AID COMMITTEE USE THE FAST RECOMMENDATION AS BASELINE TO DETERMINE AID. ALL APPLICANTS ARE REQUIRED TO APPLY ANNUALLY FOR AID. X 1 1 X X X X 0 1 0 0 0 0 0 0 1 1 THOMAS HAGERMAN HEAD OF SCHOOL 557714 0 0 0 100000 0 41488 0 8328 0 707530 0 0 0 SHELLEY GREENWOOD ASSIST. HEAD OF SCHOOL-THRU 06/2023 191243 0 0 0 87036 0 277630 0 7210 0 563119 0 0 0 MICHAEL SZCZEPANEK CFO 309758 0 0 0 0 0 31922 0 79482 0 421162 0 0 0 DEBRA SAMPEY MS DIRECTOR - THRU 06/2023 118215 0 0 0 80359 0 132855 0 10615 0 342044 0 0 0 DOROTHY BRIS-BOIS CHIEF DEVELOPMENT OFFICER 248252 0 0 0 0 0 15368 0 11819 0 275439 0 0 0 BLISS TOBIN LS DIRECTOR 182173 0 0 0 0 0 11299 0 45568 0 239040 0 0 0 SUSAN BOLON HR DIRECTOR 206281 0 0 0 0 0 13231 0 238 0 219750 0 0 0 INGRID DORER FITZPATRICK DIRECTOR ACADEMIC INITIATIVES 178867 0 0 0 0 0 17967 0 8317 0 205151 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL RECEIVES AN ANNUAL HOUSING ALLOWANCE OF $100,000 PER THE TERMS OF HIS EMPLOYMENT CONTRACT. THIS ALLOWANCE IS REPORTED AS TAXABLE COMPENSATION. PART I, LINE 4B THE FORMER ASSISTANT HEAD OF SCHOOL AND THE FORMER MS DIRECTOR BOTH RECEIVED A SUPPLEMENTAL RETIREMENT PAYMENT UPON THEIR RETIREMENT. PER LATIN SCHOOL'S APPROVED BENEFIT PROGRAM, EMPLOYEES WITH AT LEAST 25 YEARS OF SERVICE AND 60 YEARS OR OLDER RECEIVE A ONE TIME PAYMENT OF A YEAR'S SALARY UPON RETIREMENT. SHELLEY GREENWOOD RECEIVED $87,036 DURING CALENDAR YEAR 2023 AS REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). THE BALANCE OF $261,109 WAS PAID DURING 2024 AND IS INCLUDED IN PART II, COLUMN (C) AS DEFERRED COMPENSATION. DEBRA SAMPEY RECEIVED $80,359 DURING CALENDAR YEAR 2023 AS REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). THE BALANCE OF $120,639 WAS PAID DURING 2024 AND IS INCLUDED IN PART II, COLUMN (C) AS DEFERRED COMPENSATION. PART I, LINE 8 THE HEAD OF SCHOOL HIRED IN JULY 2022, IS BEING PAID PER A BINDING WRITTEN AGREEMENT QUALIFYING FOR THE INITIAL CONTRACT EXCEPTION PER REGS. SECTION 53.4958-4(A)(3) PART II, COLUMN D - NONTAXABLE BENEFITS NON-TAXABLE BENEFITS FOR CERTAIN INDIVIDUALS INCLUDE THE VALUE OF TUITION REMISSION. A ILLINOIS FINANCE AUTHORITY 861091967 45200BVD9 2005-12-28 17375000 ADVANCE REFUND 1998 BONDS 0 0 0 B ILLINOIS FINANCE AUTHORITY 861091967 45200BVC7 2005-12-28 16125000 MIDDLE SCHOOL CONSTRUCTION 0 0 0 A 12980000 17375000 17182056 192944 2007 0 1 1 1 B 11830000 16125000 173848 15951153 2007 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 0 1 1 JPMORGAN CHASE 14.500000000000 0 0 0 1 1 B 0 0 0 0 1 1 JPMORGAN CHASE 14.500000000000 0 0 0 0 1 A 0 B 0 SCHEDULE K, PART IV, LINE 4C BOND A: SERIES 2005 A HEDGE: THREE SWAPS AS FOLLOWS: 20 YEAR SWAP ENTERED INTO DECEMBER 28, 2005, EXPIRING JANUARY 1, 2026. 17 YEAR SWAP ENTERED INTO MAY 2008, EXPIRING JANUARY 1, 2026. THIRD SWAP ENTERED INTO DECEMBER 28, 2005, EXPIRED AUGUST 1, 2008 CONCURENT WITH FULL REPAYMENT OF SERIES 1998 BONDS BY THE BOND ESCROW TRUSTEE. BOND B: SERIES 2005B HEDGE: TWO SWAPS AS FOLLOWS: 20 YEAR SWAP ENTERED INTO DECEMBER 28, 2005, EXPIRING JANUARY 1, 2026. 17 YEAR SWAP ENTERED INTO MAY 2008, EXPIRING JANUARY 1, 2026. X 13 248080 AVG.HIGH/LOW AT SALE DAT 0 1 0 FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS ARE ONE PARENT OR GUARDIAN PER FAMILY ENROLLED IN THE SCHOOL. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY PLANTE & MORAN, PLLC. ANY QUESTIONS AND COMMENTS THAT ARISE DURING THE PREPARATION PROCESS ARE DISCUSSED WITH THE CONTROLLER. A MEETING IS SCHEDULED FOR DESIGNATED INDIVIDUALS FROM THE AUDIT COMMITTEE, THE TAX ADVISOR, AND SCHOOL MANAGEMENT TO REVIEW AND DISCUSS THE FORM 990. A COPY OF THE FORM 990 IS MADE AVAILABLE TO THE ENTIRE BOARD FOR APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS, KEY EMPLOYEES, AND TRUSTEES ARE REQUIRED TO FILL OUT AND FILE WITH THE SCHOOL A CONFLICT OF INTEREST STATEMENT ON AN ANNUAL BASIS. SENIOR MANAGEMENT REVIEWS THESE STATEMENTS ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL HAS A COMPENSATION COMMITTEE WHICH IS A COMMITTEE OF THE BOARD OF TRUSTEES. THE COMPENSATION COMMITTEE DOES A REVIEW, USING INDEX DATA (A BENCHMARK GROUP OF PEER SCHOOLS) AND OTHER INDEPENDENT DATA, TO EVALUATE COMPENSATION FOR THE HEAD OF SCHOOL. THE COMPENSATION COMMITTEE CONSISTS OF THE CURRENT BOARD CHAIR, PAST BOARD CHAIR, AND THE OFFICERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE NOT MADE AVAILABLE TO THE PUBLIC. THE SCHOOL'S FINANCIAL STATEMENTS ARE AVAILABLE THROUGH THE STATE OF ILLINOIS' ATTORNEY GENERAL'S OFFICE. FORM 990, PART VII, SECTION A, COLUMN (F) NON-TAXABLE BENEFITS FOR CERTAIN INDIVIDUALS INCLUDE THE VALUE OF TUITION REMISSION. FORM 990, PART XI, LINE 9: GAIN ON INTEREST RATE SWAP 62,279. FORM 990. PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR. 1500 DEARBORN MANAGEMENT LLC 59 W NORTH BLVD CHICAGO IL 60610 882038708 PROPERTY OWNERSHIP DE 310207 11302721 THE LATIN SCHOOL OF CHICAGO 1505 DEARBORN LLC 59 W NORTH BLVD CHICAGO IL 60610 882068203 PROPERTY OWNERSHIP DE 0 0 1500 DEARBORN MANAGEMENT LLC 1507 DEARBORN LLC 59 W NORTH BLVD CHICAGO IL 60610 882097023 PROPERTY OWNERSHIP DE 0 0 1500 DEARBORN MANAGEMENT LLC DEARBORN SV LLC 59 W NORTH BLVD CHICAGO IL 60610 882131361 PROPERTY OWNERSHIP DE 0 0 1500 DEARBORN MANAGEMENT LLC