2022-05-12T19:09:07-05:00 2021-06-30 BDO USA LLP 4999 Pearl E Circle Ste 300 Boulder CO 80301 990 2020-07-01 840423922 Fountain Valley School of Colorado % AMANDA DEERR FOUN 7193915356 6155 Fountain Valley School Road Colorado Springs CO 80911 William Webb Head of School 7193915356 2022-05-16 true William Webb 999009999 Mary Jane Pieroni CPA Direc P00538772 3034400399 2022-05-16 2020 2022-09-23 18:48:47Z William Webb 6155 Fountain Valley School Road Colorado Springs CO 80911 61810897 false X www.fvs.edu X 1930 CO THE SCHOOL IS A UNIQUE, GLOBAL BOARDING SCHOOL WITH A RIGOROUS COLLEGE PREPARATORY CURRICULUM. 25 25 177 25 0 0 2363526 11734768 12257375 11268645 1522546 1764017 -179839 50616 15963608 24818046 3258772 3314598 0 0 7566821 7508524 0 0 732880 6670671 7078186 17496264 17901308 -1532656 6916738 80361660 92362981 8589162 3552385 71772498 88810596 X Fountain Valley School of Colorado provides a transformative curriculum in a supportive environment where students are challenged to think critically, become leaders, and live by our core values: Courage, Compassion, Curiosity, Self-Reliance, Open-Mindedness. false false 11082568 3314598 11263007 THE FOUNTAIN VALLEY SCHOOL PROVIDES INSTRUCTION TO STUDENTS; SERVICES TO STUDENTS SUCH AS HOUSING, ATHLETICS, INFIRMARY TO INCLUDE COUNSELING, FOOD SERVICES, AND SCHOLARSHIPS. EDUCATION: ALONG WITH A RIGOROUS ACADEMIC CURRICULUM THAT INCLUDES 18 ADVANCED PLACEMENT COURSES AND HONOR CLASSES IN EVERY DISCIPLINE, FOUNTAIN VALLEY'S SIGNATURE PROGRAMS ARE: THE GLOBAL SCHOLAR DIPLOMA INCLUDING THE SCHOOL'S MEMBERSHIP IN ROUND SQUARE; EXPERIENTIAL LEARNING SUCH AS THE WESTERN IMMERSION PROGRAM AND INTERIM TRAVEL ADVENTURES; THE EQUESTRIAN PROGRAM WITH BOTH ENGLISH AND WESTERN COMPETITIVE RIDERS; AND SPORTS THAT TAKE ADVANTAGE OF ROCKY MOUNTAIN SETTING TO INCLUDE MOUNTAIN BIKING, CLIMBING AND OUTDOOR EDUCATION. HOUSING AND MEALS: FOUNTAIN VALLEY SCHOOL SETS A NATIONAL STANDARD IN RESIDENTIAL LIFE FOR ITS BOARDING STUDENTS AND FACULTY. STUNNING ADOBE RESIDENCES HOUSE SMALL GROUPS OF 16-20 STUDENTS AND FACULTY FAMILIES. WITH COMMUNAL KITCHENS, COMMON ROOMS, FIREPLACES AND PATIOS, RESIDENCE HALLS QUICKLY BECOME A WELCOMING HOME AWAY FROM HOME. THE FVS COMMUNITY GATHERS IN THE DINING HALL FOR THREE MEALS A DAY WITH MYRIAD OPTIONS INCLUDING VEGETARIAN AND GLUTEN FREE. SCHOLARSHIPS: FORTY THREE PERCENT OF STUDENTS RECEIVE FINANCIAL AID. IN THE 2020-2021 SCHOOL YEAR, $3,314,598 IN BOTH MERIT- AND NEED-BASED SCHOLARSHIPS WAS AWARDED. 11082568 true true false false false false false false false true true true false false true true true false true false false false false false false false false false true true false false false false false false false false true false false false false false false false false true 43 0 true 177 true true true false false false false false false false false false false false X 25 25 false false false false false false false true true false false true true true true true true true true false X AMANDA DEERR 7193915356 6155 FOUNTAIN VALLEY SCHOOL ROAD colorado springs CO 80911 William Webb Head of School (non-voting) 40.0 0.0 X 250050 0 42918 Janet Refior COFO 40.0 0.0 X 157645 0 20399 Rafael Mucino Assistant Head of School 40.0 0.0 X 104692 0 30758 GREGORY L THATCHER PRESIDENT 1.0 0.0 X X 0 0 0 BARRY BROWN VICE PRESIDENT 1.0 0.0 X X 0 0 0 LINK NICOLL SECRETARY 1.0 0.0 X X 0 0 0 JOLENE LANE TRUSTEE 1.0 0.0 X 0 0 0 SARAH CANNADY TRUSTEE 1.0 0.0 X 0 0 0 janet dulin TRUSTEE 1.0 0.0 X 0 0 0 keLLY EUSTACE TRUSTEE 1.0 0.0 X 0 0 0 Emilie Hoyt tRUSTEE 1.0 0.0 X 0 0 0 walter harrison TRUSTEE 1.0 0.0 X 0 0 0 JUNIPER HUNTER TRUSTEE 1.0 0.0 X 0 0 0 hope kapsner tRUSTEE 1.0 0.0 X 0 0 0 Dawn Judd tRUSTEE 1.0 0.0 X 0 0 0 Haley Griffis TRUSTEE 1.0 0.0 X 0 0 0 christopher sanchez TRUSTEE 1.0 0.0 X 0 0 0 Lain Leoniak TRUSTEE 1.0 0.0 X 0 0 0 Theresa Sheh tRUSTEE 1.0 0.0 X 0 0 0 Cori J Galles TRUSTEE 1.0 0.0 X 0 0 0 Henry Morse tRUSTEE 1.0 0.0 X 0 0 0 Mark Hatch tRUSTEE 1.0 0.0 X 0 0 0 DEMPSEY SIMONIS TRUSTEE 1.0 0.0 X 0 0 0 DAVIS TUTT TRUSTEE 1.0 0.0 X 0 0 0 Max Zhang TRUSTEE 1.0 0.0 X 0 0 0 GREGORY OSBORNE TRUSTEE 1.0 0.0 X 0 0 0 DOUGLAS PATTERSON TRUSTEE 1.0 0.0 X 0 0 0 Edward C Eppler Trustee 1.0 0.0 X 0 0 0 512387 0 94075 5 false true false 0 1101221 10633547 2156477 11734768 TUITION AND FEES 611110 11067556 11067556 GCLI PROGRAM REVENUE 611110 116941 116941 RIDING PROGRAM 611110 53954 53954 ATHLETICS 611110 16000 16000 HEALTH CENTER 611110 10426 10426 3768 3768 11268645 890660 890660 0 0 38740 37637 0 1103 1103 1103 37755217 60479 36940039 2300 815178 58179 873357 873357 0 0 0 0 0 0 7237 12875 -5638 -5638 INSURANCE PROCEEDS 900099 1976 1976 MISCELLANEOUS REVENUE 900099 53175 53175 55151 24818046 11263007 1820271 0 3314598 3314598 0 0 494835 417819 77016 0 5425174 2915381 2110493 399300 331599 194472 111672 25455 861587 543454 285157 32976 395329 202604 159325 33400 0 58791 58791 37251 37251 0 0 159689 159689 412594 257659 154935 117421 117421 178615 175228 3387 134414 134414 0 937914 937914 40282 449 27110 12723 0 24396 24396 140467 140467 0 2179435 1961492 217943 478306 478306 FOOD EXPENSE 1220962 1220962 SCHOOL EXPENSES 319209 299323 19886 MEMBERSHIPS 52798 3026 49763 9 MEDICAL/COUNSELING 39225 39225 546417 129923 409697 6797 17901308 11082568 6085860 732880 1455625 2177985 1147349 2367550 1726673 1062701 210750 236442 0 0 0 0 0 0 0 0 137635 268226 72330625 35832701 38121024 36497924 30536321 42614452 4919331 4771655 0 0 0 0 2106952 2366046 80361660 92362981 398994 684743 0 0 2651273 2824263 0 0 0 0 0 0 3843756 0 0 0 1695139 43379 8589162 3552385 X 47124008 48831853 24648490 39978743 71772498 88810596 80361660 92362981 6916738 10121360 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 37349533 5053013 11850963 6294615 47958894 45814200 130832 688433 9283932 37349533 51062549 3798947 2025496 11072792 45814200 48696482 288602 3306924 1229459 51062549 45423589 137569 4501372 1366048 48696482 0.23540 0.53130 0.23330 true false 69050 69050 66553414 31459953 35093461 0 0 0 5490691 4372748 1117943 217470 217470 36497924 EXCHANGE TRADED FUNDS 1664587 F LIMITED PARTNERSHIPS 3107068 F 4771655 0 ANNUITIES PAYABLE 43379 43379 X 31457452 10121360 50512 10171872 21285580 159689 3372777 3532466 24818046 14419354 50512 50512 14368842 159689 3372777 3532466 17901308 PART V, LINE 4: THE FOUNTAIN VALLEY SCHOOL'S ENDOWMENT FUNDS ARE RESTRICTED PERMANENTLY OR TEMPORARILY BY DONOR INTENT AS TO PURPOSE OR TIME LIMITATION, AND ARE ACCOUNTED FOR AS SUCH IN THE BOOKS OF ACCOUNTS OF THE SCHOOL. THE DEVELOPMENT DIRECTOR OF THE SCHOOL IS PRIMARILY RESPONSIBLE FOR THIS DETERMINATION AFTER CONSULTATION WITH THE DONOR AS DOCUMENTED BY THE GIFT DECREE. THIS IS IN TURN PROVIDED TO THE BUSINESS OFFICE OF THE SCHOOL WHERE THE CFO CONFIRMS INTENT AND ACCOUNTS FOR THE GIFT ACCORDING TO GAAP. ENDOWMENT FUNDS OF THE SCHOOL ARE GENERALLY ORGANIZED TO PROVIDE FOR PROGRAM NEEDS, FACULTY DEVELOPMENT, AND FINANCIAL AID. THE BOARD OF TRUSTEES MAY INTERNALLY RESTRICT DONOR UNRESTRICTED GIFTS AS QUASI-ENDOWMENT IN THE BEST INTERESTS OF THE SCHOOL AS DETERMINED BY THE STRATEGIC PLAN AS ADVISED BY THE FINANCE AND DEVELOPMENT COMMITTEES OF THE SCHOOL. THE BOARD AUTHORIZED SPENDING POLICY IS AN ANNUAL DRAW FROM THE ENDOWMENT LIMITED TO 5.5% OF THE VALUATION OF TOTAL ENDOWMENT FUNDS BASED ON A TRAILING TWENTY QUARTER AVERAGE. FOR THE YEARS ENDED JUNE 30, 2021 and 2020, THE DRAW WAS 5.1% AND 5.2%, RESPECTIVELY. PART XI, LINE 2D - OTHER ADJUSTMENTS RENTAL EXPENSES NETTED WITH RENTAL INCOME ON PART VIII 37,637 COST OF GOODS SOLD NETTED WITH INVENTORY SALES ON PART VIII 12,875 PART XI, LINE 4B - OTHER ADJUSTMENTS SCHOLARSHIPS 3,314,598 GAIN ON SALE OF FIXED ASSETS RECORDED ON PART VIII 58,179 PART XII, LINE 2D - OTHER ADJUSTMENTS RENTAL EXPENSES NETTED WITH RENTAL INCOME ON PART VIII 37,637 COST OF GOODS SOLD NETTED WITH INVENTORY SALES ON PART VIII 12,875 PART XII, LINE 4D - OTHER ADJUSTMENTS SCHOLARSHIPS 3,414,598 GAIN ON SALE OF FIXED ASSETS RECORDED ON PART VIII 58,179 PART X, LINE 2 THE SCHOOL IS EXEMPT FROM INCOME TAX AS DETERMINED BY THE INTERNAL REVENUE SERVICE UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND A SIMILAR PROVISION OF STATE LAW. HOWEVER, THE SCHOOL IS SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME. AS OF JUNE 30, 2021 AND 2020, THE SCHOOL BELIEVES THAT IT DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. The School believes that it has conducted its operations in accordance with and has properly maintained, its tax-exempt status, and that it has taken no material uncertain tax positions that qualify for recognition or disclosure in the financial statements. PART V Endowment Funds Net assets without donor restrictions as of June 30, 2020 were reclassified in the statement of financial position and include board designated endowment funds. Part V was restated to reflect this reclassification. true true true true true true true false false false false false false false false false false true SCHEDULE E PART I LINE 3 A STATEMENT THAT THE FOUNTAIN VALLEY SCHOOL DOES NOT DISCRIMINATE ON THE BASIS OF RACE, RELIGION, GENDER OR NATIONAL ORIGIN IS POSTED IN THE RECEPTION AREA AND IS INCLUDED IN RECOMMENDATION FORMS, ETC. true SCHOLARSHIPS 100 3314598 BOOK VALUE reduce tuition PART I, LINE 2: THE SCHOLARSHIPS ARE DIRECT REDUCTIONS IN TUITION. NO CASH IS PAID TO STUDENTS. THEY ARE SELECTED BY BLIND FINANCIAL NEED. WE GO THROUGH A THIRD PARTY VENDOR WHO HAS A SET OF CRITERIA FOR SELECTION THEN FOUNTAIN VALLEY MAKES THE FINAL DECISION FROM THAT LIST. WE KEEP THE APPLICATION AND TAX RETURNS WHILE THE STUDENT IS ENROLLED HERE. THE THIRD PARTY VENDOR ALSO KEEPS A COPY OF THE RECORDS. WE ALSO RECORD THEIR AWARDED FINANCIAL AID IN OUR ERP SYSTEM AS WELL AS SEVERAL EXCEL SPREADSHEETS. X X X X true true X X X X true false false false false false false false false Janet Refior COFO 150145 7500 12800 7599 178044 William Webb Head of School (non-voting) 235050 15000 19668 23250 292968 X 17 2156477 Daily mean 0 false true false SCHEDULE M, LINE 31 The Gift Review Committee reviews every prospective gift to Fountain Valley School, other than cash or marketable securities. The Gift Review Committee will evaluate the appropriateness of Fountain Valley School's accepting the proposed gift, always using as the primary determining factor the best interests of Fountain Valley School. In reviewing proposed gifts, the Gift Review Committee will determine the appropriate disposition of the gift based on Fountain Valley School's needs and its ability to receive, manage, or administer the gift effectively. The Gift Review Committee will then make a recommendation to the board for final approval of gifts (other than cash or marketable securities). For suitability, the Gift Review Committee will also be the reviewing body of any gifts that fall outside the normal scope of gifts including, but not limited to, land, artwork, or other non-cash gifts. FORM 990, PART VI, SECTION B, LINE 11B: THE FORM 990 IS PREPARED BY A THIRD PARTY PREPARER WITH A DETAIL REVIEW BEING COMPLETED BY THE COFO OR OTHER SELECTED ADMINISTRATORS OF THE ORGANIZATION. A SECONDARY REVIEW IS PERFORMED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. AFTER THE AUDIT COMMITTEE APPROVES THE FORM 990 A COPY IS DISTRIBUTED TO THE FULL BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C: A CONFLICT OF INTEREST POLICY STATEMENT IS REVIEWED ANNUALLY BY THE BOARD OF TRUSTEES AT THE FIRST MEETING OF THE FISCAL YEAR. A DISCUSSION OF THE CONFLICT OF INTEREST POLICY IS FOLLOWED BY A QUESTION AND ANSWER TIME. ALL TRUSTEES ARE REQUIRED TO SIGN AND SUBMIT THE STATEMENT ANNUALLY. QUESTIONS ABOUT POTENTIAL CONFLICTS OF INTEREST ARE SUBMITTED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW AND DECISION, AND MAY BE BROUGHT BEFORE THE ENTIRE BOARD FOR DISCUSSION AS DEEMED NECESSARY BY THE EXECUTIVE COMMITTEE. CONCERNS ABOUT POTENTIAL CONFLICTS, RAISED BY ORGANIZATION STAFF, ARE DIRECTED THROUGH THE HEAD OF SCHOOL TO THE BOARD OF TRUSTEES. CONCERNS REGARDING A CONFLICT OF INTEREST REQUIRE A BOARD MEMBER TO RECUSE THEMSELVES FROM VOTING ON THE ISSUE IN CONFLICT. FORM 990, PART VI, SECTION B, LINE 15: THE BOARD OF TRUSTEES DIRECTLY HIRES THE HEAD OF SCHOOL AND DETERMINES HIS COMPENSATION PACKAGE. MEMBERS OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES ARE RESPONSIBLE FOR NEGOTIATING COMPENSATION OF THE HEAD OF SCHOOL OR MAY DELEGATE SOME ASPECTS TO THE HEAD OF SCHOOL SEARCH COMMITTEE. HEAD OF SCHOOL COMPENSATION IS DETERMINED BASED ON QUALIFICATIONS AND EXPERIENCE AS MEASURED AGAINST THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL NORMS AND CONSULTATION WITH CONSULTANTS FAMILIAR WITH INDEPENDENT SCHOOLS. A WRITTEN CONTRACT (HEAD OF SCHOOL'S CONTRACT) OF DUTIES AND RESPONSIBILITIES ALONG WITH SALARY AND BENEFITS IS PROVIDED EACH YEAR AFTER THE ANNUAL PERFORMANCE REVIEW. THE COFO IS HIRED BY THE HEAD OF SCHOOL UNDER THE ADVICE AND CONSENT OF THE BOARD OF TRUSTEES. THE COFO RECEIVES A WRITTEN CONTRACT WHICH DELINEATES DUTIES AND RESPONSIBILITIES ALONG WITH SALARY AND RELATED BENEFITS. BENEFITS RECEIVED ARE THE SAME PACKAGE AS PROVIDED TO OTHER EMPLOYEES OF THE SCHOOL. COMPENSATION IS DETERMINED BASED ON QUALIFICATIONS AND EXPERIENCE AS MEASURED AGAINST THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL NORMS AND CONSULATION WITH THE CONSULTANTS FAMILIAR WITH INDEPENDENT SCHOOLS. THE LAST REVIEW OF KEY EMPLOYEE COMPENSATION OCCURRED IN May 2021. FORM 990, PART VI, SECTION C, LINE 19: THE GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC ON REQUEST. FORM 990 PART XII LINE 2C THE ORGANIZATION DID NOT CHANGE ITS AUDIT OVERSIGHT OR SELECTION PROCESSES DURING THE YEAR.