2022-02-07T09:24:17-06:00 2021-06-30 540504608 BROWN EDWARDS & COMPANY LLP 319 MCCLANAHAN STREET SW ROANOKE VA 24014 990 2020-07-01 560935064 CANNON SCHOOL INC CANN 7047868171 5801 POPLAR TENT ROAD CONCORD NC 28027 WHITNEY BROWN DIRECTOR OF BUSINESS AND FINANCE 7047868171 2022-01-31 1 WHITNEY BROWN 999009999 PATRICK PITTMAN P00587461 5403450936 2022-01-31 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z WHITNEY BROWN 5801 POPLAR TENT ROAD CONCORD NC 28027 27160738 0 X WWW.CANNONSCHOOL.ORG X 1968 NC CANNON SCHOOL WAS FOUNDED IN 1968 AND IS A NON-PROFIT, INDEPENDENT SCHOOL THAT FOCUSES ON THE INDIVIDUAL STUDENT. THE SCHOOL OCCUPIES A 65-ACRE CAMPUS JUST OFF THE I-85 CORRIDOR IN CONCORD, NC. APPROXIMATELY 1031 STUDENTS WERE ENROLLED AT THE SCHOOL DURING THE FISCAL YEAR IN GRADES JUNIOR KINDERGARTEN THROUGH 12TH GRADE. CANNON ENCOURAGES STUDENTS TO STRETCH TO THEIR FULLEST POTENTIAL AND BECOME ENGAGED STUDENTS AND OUTSTANDING CITIZENS. CANNON'S LOWER SCHOOL STRESSES ACADEMIC EXCELLENCE, WITH A BALANCE OF ENRICHMENT OPPORTUNITIES AND AN EMPHASIS ON CHARACTER DEVELOPMENT. CANNON'S MIDDLE SCHOOL PROVIDES A CLIMATE FOR EMERGING YOUNG ADULTS TO NURTURE THEIR LOVE OF LEARNING, STRENGTHEN THEIR SELF CONCEPT, AND EXPLORE EXTRACURRICULAR ACTIVITIES. CANNON'S UPPER SCHOOL DEDICATES ITSELF TO DEVELOPING TEACHING PRACTICES AND CURRICULUM THAT EQUIP STUDENTS TO LEARN HOW TO LEARN AND IS BASED ON TRADITIONAL COLLEGE PREPARATORY CURRICULUM. 23 23 348 54 0 0 912102 1966617 22334169 24239480 1205950 644621 35314 190863 24487535 27041581 3208018 3849162 0 0 14198032 15230312 0 0 1060094 6079640 6550712 23485690 25630186 1001845 1411395 49466650 54359629 14795148 14907493 34671502 39452136 PROVISION OF QUALITY K-12 EDUCATIONAL PROGRAM WITHIN A SAFE, DIVERSE AND CHALLENGING ENVIRONMENT. 0 0 21484375 3849162 24430343 INSTRUCTION - PRIMARY AND SECONDARY EDUCATION WHICH BENEFITS STUDENTS WITHOUT REGARD TO RACE, RELIGION, OR NATIONAL ORIGIN. THE SCHOOL SERVED APPROXIMATELY 1031 STUDENTS DURING THE 2020-2021 SCHOOL YEAR. SPECIAL PROGRAMS INCLUDE AFTER SCHOOL PROGRAMS AND SUMMER CAMP. AUXILIARY SERVICES INCLUDE BUS TRANSPORTATION FOR STUDENTS AND A SCHOOL STORE. 21484375 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 31 0 1 348 1 0 0 0 0 0 0 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ANDREA TREMBATH 7047868171 5801 POPLAR TENT ROAD CONCORD NC 28027 BENTON BRAGG SR BOARD CHAIR 1.00 X X 0 0 0 JEFF LECK VICE CHAIR 1.00 X X 0 0 0 KARIN CAIN TREASURER 1.00 X X 0 0 0 DR KYM SELDEN SECRETARY 1.00 X X 0 0 0 JOAN ANKROM TRUSTEE 1.00 X 0 0 0 DR BRET BUSBY TRUSTEE 1.00 X 0 0 0 DAVID BUTOW TRUSTEE 1.00 X 0 0 0 LISA COMBS TRUSTEE 1.00 X 0 0 0 BLAKE EVANS TRUSTEE 1.00 X 0 0 0 JAMES HARTSELL TRUSTEE 1.00 X 0 0 0 ANDREW HUDSON TRUSTEE 1.00 X 0 0 0 KIMBERLY LEATHERMAN TRUSTEE 1.00 X 0 0 0 CARY MAJORS TRUSTEE 1.00 X 0 0 0 MICHAEL MCDERMOTT TRUSTEE 1.00 X 0 0 0 HARRY MCKAY TRUSTEE 1.00 X 0 0 0 GREY MILLS JR TRUSTEE 1.00 X 0 0 0 DR PORTER PETERSON TRUSTEE 1.00 X 0 0 0 ALAN SPRINGATE TRUSTEE 1.00 X 0 0 0 DR JON TER POORTEN TRUSTEE 1.00 X 0 0 0 DR NEHAL THAKKAR TRUSTEE 1.00 X 0 0 0 LAURIN TITUS TRUSTEE 1.00 X 0 0 0 JON WARD TRUSTEE 1.00 X 0 0 0 TERRI ZANDHUIS TRUSTEE 1.00 X 0 0 0 G CHRISTOPHER JONES HEAD OF SCHOOL 50.00 X 393909 0 27945 WHITNEY BROWN DIR. OF BUS. AND FINANCE 50.00 X 144898 0 16517 FABIO HURTADO DIRECTOR OF STUDIES 40.00 X 136108 0 15240 FREDERICK HARTUNG DIRECTOR OF ADVANCEMENT 40.00 X 141605 0 14083 DEBRA OTEY HEAD OF UPPER SCHOOL 40.00 X 137424 0 15111 REGINA NIXON HEAD OF LOWER SCHOOL 40.00 X 140873 0 9247 KATHERINE LARUE ATHLETIC DIRECTOR 40.00 X 133206 0 8950 1228023 0 107093 7 0 1 0 THE BUDD GROUP 1000 AMBLE DRIVE CHARLOTTE NC 28206 JANITORIAL 366059 KATALYST 1515 MOCKINGBIRD LANE CHARLOTTE NC 28209 IT CONSULTING 148171 FLIK INDEPENDENT SCHOOLS DINING 2 INTERNATIONAL DRIVE RYE BROOK NC 10573 FOOD SERVICE PROVIDER/CAFETERIA 130421 3 392100 1574517 82297 1966617 TUITION 900099 22994866 22994866 CAFETERIA 900099 514483 514483 SUMMER CAMPS 900099 235108 235108 OTHER 900099 222549 222549 TRANSPORTATION 900099 213186 213186 59288 59288 24239480 229719 229719 467761 23516 64619 11756 403142 11760 414902 414902 64163 42782 21381 21381 MISC. REVENUE 900099 169482 169482 169482 27041581 24430343 0 644621 3849162 3849162 583269 583269 12215520 10653650 1041361 520509 740543 616424 94002 30117 787835 655790 100005 32040 903145 751773 114642 36730 26328 26328 133413 133413 69398 69398 50873 50873 155409 155409 188569 116487 62388 9694 281467 262977 16003 2487 1218739 944240 237583 36916 26452 26207 245 106132 71539 34593 173647 131725 36284 5638 2092484 1587318 437228 67938 187476 145250 36547 5679 STUDENT ACTIVITIES - SU 908737 908737 OTHER 398700 206579 37304 154817 MATERIALS AND SUPPLIES 240017 224251 13646 2120 STUDENT ACTIVITIES - OT 200080 200080 92791 81313 11478 25630186 21484375 3085717 1060094 8077902 8876638 592377 663442 802250 962114 1012682 1546978 75000 50000 29332 24249 281965 350631 46913649 21582299 26309342 25331350 12017182 16136236 268618 417991 49466650 54359629 1501425 1684263 6841680 7505082 3415188 2784200 2172173 2102970 864682 830978 14795148 14907493 X 31647249 34507577 3024253 4944559 34671502 39452136 49466650 54359629 X 1411395 3278461 90778 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10823671 147850 3535708 415265 14091964 10697010 148339 271099 292777 10823671 10091794 231800 634432 261016 10697010 8878727 665825 936188 388946 10091794 6732626 1220543 1024765 99207 8878727 0.75600 0.12930 0.11470 0 0 501819 501819 34787276 13250232 21537044 11460956 8332067 3128889 163598 163598 25331350 VALUATION OF INTEREST RATE SWAP 139801 457 (B) PLAN LIABILITY 242355 CAPITAL LEASE 175636 LONG TERM DEBT 273186 830978 26470430 3278461 133561 3412022 23058408 69398 3913775 3983173 27041581 21689796 42783 42783 21647013 69398 3913775 3983173 25630186 PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF INTEREST SWAP $90,778 COST OF GOODS SOLD $42,782 ROUNDING $1 PART XI, LINE 4B - OTHER ADJUSTMENTS: ADJUSTMENT TO PLEDGES RECEIVABLE VALUE $64,613 FINANCIAL AID AND SCHOLARSHIPS $3,849,162 PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD $42,782 ROUNDING $1 PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIPS $3,849,162 ADJUSTMENT TO PLEDGES RECEIVABLE VALUE $64,613 PART V, LINE 4: ENDOWMMENT FUNDS ARE USED TO FUND A VARIETY OF PROGRAMS THAT ARE ALIGNED WITH THE SCHOOL'S EXEMPT PURPOSE. THOSE FUNDS WITH DONOR IMPOSED RESTRICTIONS ARE EXPENDED ACCORDING TO THE DONOR RESTRICTIONS. THERE ARE SPENDING POLICIES BASED UPON INVESTMENT RETURNS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 CANNON SCHOOL'S RACIALLY NON-DISCRIMINATORY POLICY APPEARS ON ITS ONLINE HOMEPAGE, WWW.CANNONSCHOOL.ORG, IN ACCORDANCE WITH REVENUE PROCEDURE 2019-22. 1 FINANCIAL AID 246 2461728 BOOK TUITION REDUCTION TUITION REMISSION 127 1387434 BOOK TUITION REDUCTION PART I, LINE 2: FINANCIAL AID AWARDS ARE ADMINISTERED BY THE SCHOOL AND ARE USED TO OFFSET CHARGES TO STUDENT ACCOUNTS. NO EXCHANGE OF REAL FUNDS EVER TAKES PLACE. THE AWARD IS SIMPLY A CREDIT TOWARDS THE TUITION BALANCE. X 1 1 X X X X 0 0 0 0 0 0 0 1 0 G CHRISTOPHER JONES HEAD OF SCHOOL 383909 0 10000 0 0 0 23121 0 4824 0 421854 0 0 0 WHITNEY BROWN DIR. OF BUS. AND FINANCE 144898 0 0 0 0 0 11693 0 4824 0 161415 0 0 0 FABIO HURTADO DIRECTOR OF STUDIES 136108 0 0 0 0 0 10258 0 4982 0 151348 0 0 0 FREDERICK HARTUNG DIRECTOR OF ADVANCEMENT 141605 0 0 0 0 0 10187 0 3896 0 155688 0 0 0 DEBRA OTEY HEAD OF UPPER SCHOOL 137424 0 0 0 0 0 10129 0 4982 0 152535 0 0 0 REGINA NIXON HEAD OF LOWER SCHOOL 140873 0 0 0 0 0 5351 0 3896 0 150120 0 0 0 PART I, LINE 1A THE SCHOOL REIMBURSES THE HEAD OF SCHOOL, G. CHRISTOPHER JONES, FOR MEMBERSHIP DUES TO HIS COUNTRY CLUB, WHICH HE USES, IN PART, FOR BUSINESS PURPOSES. THE AMOUNT OF THE COUNTRY CLUB DUES RELATED TO HIS PERSONAL USE IS TREATED AS A TAXABLE BENEFIT. PART I, LINE 7 G. CHRISTOPHER JONES, HEAD OF SCHOOL, RECEIVED A DISCRETIONARY BONUS AS SHOWN IN PART II. A NC CAPITAL FACILITIES FINANCE AGENCY 561592154 65818PBY4 2010-03-03 9035000 REFUNDING OF FACILITIES CONSTRUCTION BONDS 0 0 0 A 5598490 9035000 9035000 2010 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 1 0 1 0 0 0 0 A 0 G C JONES HOS MORTGAGE LOAN X 75000 50000 0 1 1 50000 X 4 82297 STOCK MEDIAN VALUE 0 1 1 PART I, LINE 32B: THE SCHOOL USES TD AMERITRADE'S ONLINE ACCOUNT TO RECEIVE STOCK DONATIONS AND SELL THE STOCK DIRECTLY AFTER. FORM 990, PART VI, SECTION B, LINE 11B EACH MEMBER OF THE BOARD OF DIRECTORS IS PROVIDED WITH THE OPPORTUNITY TO RECEIVE AND REVEIW A FULL COPY OF THE FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES ARE REQUIRED TO REVIEW AND SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY. THE HEAD OF SCHOOL'S ASSISTANT COLLECTS ALL SIGNED CONFLICT OF INTEREST POLICIES FROM TRUSTEES AND REVIEWS FOR ANY POTENTIAL ISSUES. THESE ARE COLLECTED FROM ALL NEW TRUSTEES AS THEY CHANGE DURING THE YEAR. DURING THE COURSE OF THE YEAR, ANY TRUSTEE WITH A POTENTIAL CONFLICT RECUSES HIMSELF/HERSELF FROM DISCUSSIONS AND/OR VOTES. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL HAS A COMPENSATION COMMITTEE (COMPOSED OF INDEPENDENT TRUSTEES) FOR ITS HEAD OF SCHOOL THAT UNDERTOOK INITIAL STUDIES OF COMPARABILITY SOURCE DATA FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS ("NAIS") AND CARNEY SANDOE TO DETERMINE THE HEAD'S OVERALL COMPENSATION. THE COMPENSATION DETERMINATION PROCESS IS DOCUMENTED IN THE MEETING MINUTES. ADDITIONALLY, THE COMPENSATION IS REEXAMINED ON A PERIODIC BASIS TO ENSURE REASONABLENESS. THE SCHOOL HAS A FULLTIME HUMAN RESOURCE DIRECTOR ("HRD") THAT ASSISTS IN PULLING TOGETHER COMPENSATION MARKET DATA FOR ALL OTHER POSITIONS. ANNUALLY, BENCHMARKING DATA IS PROVIDED BY THE HRD TO THE HEAD OF SCHOOL FOR THE LEADERSHIP TEAM. BENCHMARKING DATA IS PULLED FROM DASL, A DATABASE PROVIDED BY THE NAIS. COMPARATOR SCHOOLS INCLUDE THOSE IN THE LOCAL/STATE AREA AND THE SOUTHEAST REGION; ALL SCHOOLS ARE DAY SCHOOLS THAT ARE SIMILAR IN SIZE/SCOPE. GENERALLY, THE STANDARD RAISE PERCENTAGE FOR ALL EMPLOYEES, APPROVED BY THE BOARD, IS GIVEN TO EACH LEADER. SOMETIMES, IF A LEADER IS BELOW THE COMPETITIVE MEDIAN RATE AS COMPARED TO OTHERS WITH SIMILAR YEARS OF SERVICE, AN ADDITIONAL INCREASE ABOVE THE BOARD APPROVED RATE IS GIVEN. THIS IS DETERMINED AND APPROVED BY THE HEAD OF SCHOOL. THE PROCESS USED TO DETERMINE THE SALARY FOR THE DIRECTOR OF BUSINESS AND FINANCE IS THE SAME AS LISTED ABOVE. HOWEVER, BOARD APPROVAL IS REQUIRED EACH YEAR. SIGNED DOCUMENTATION BY THE BOARD CHAIR IS PROVIDED TO THE HRD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST SWAP 90,778. PART XII, LINE 2C THERE WERE NO CHANGES IN PROCEDURES FROM THE PRIOR YEAR.