2022-05-16T14:34:56-05:00 2021-06-30 010448006 ALBIN RANDALL & BENNETT PO BOX 445 130 MIDDLE STREET PORTLAND ME 041120445 990 2020-07-01 010211565 WAYNFLETE SCHOOL WAYN 2077745721 360 SPRING STREET PORTLAND ME 041023643 CARRIE MCCOLGAN DIR. OF FINANCE & OPERATIONS 2077745721 2022-05-05 1 CARRIE MCCOLGAN 999009999 JASON C LEBLANC P01212079 2077721981 2022-05-05 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z GEOFFREY WAGG 360 SPRING STREET PORTLAND ME 041023643 27322596 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. 20 20 283 50 0 0 1273174 1778372 18769445 19763564 306024 1480925 -153 2666 20348490 23025527 4981956 5327861 0 0 11953290 12741652 0 0 432032 4188298 4258998 21123544 22328511 -775054 697016 56687644 64743291 25393449 26401599 31294195 38341692 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 18933785 5327861 19763564 PRIVATE EARLY CHILDHOOD, ELEMENTARY, MIDDLE AND SECONDARY EDUCATION UTILIZED BY APPROXIMATELY 557 STUDENTS. 18933785 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 40 0 283 1 0 0 0 0 0 0 0 0 0 0 0 0 X 20 20 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 ARONSON KRISTA TRUSTEE 2.00 X 0 0 0 BURNHAM KATE TRUSTEE 2.00 X 0 0 0 CANNING MARIA MEMBER AT LARGE 2.00 X 0 0 0 CLOUDMAN CATHERINE TREASURER 2.00 X X 0 0 0 COHEN BRANDON TRUSTEE 2.00 X 0 0 0 DEVINE BEN TRUSTEE 2.00 X 0 0 0 DUFAUCHARD NICOLE MEMBER AT LARGE 2.00 X 0 0 0 JETON KATE TRUSTEE 2.00 X 0 0 0 JOYCE CINDA TRUSTEE 2.00 X 0 0 0 LANGER BETSY SECRETARY 2.00 X 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 SHINN DEBORAH TRUSTEE 2.00 X 0 0 0 SMITH CHRISTOPHER PRESIDENT 2.00 X X 0 0 0 SOLEY TIM VICE PRESIDENT 2.00 X X 0 0 0 TROIANO JEFF TRUSTEE 2.00 X 0 0 0 VALDMANIS WARREN TRUSTEE 2.00 X 0 0 0 WAGG GEOFF HEAD OF SCHOOL 50.00 X 323207 0 115170 HAGSTROM ANNE C FORMER DIR OF FINANCE & OPERATION 50.00 X 75485 0 11561 MCCOLGAN CARRIE DIR OF FINANCE & OPERATION 50.00 X 56726 0 18101 BREEN LYNNE M FINLEY DEAN OF ADMISSION 50.00 X 115573 0 35728 LIBBY LOWELL W UPPER SCHOOL DIRECTOR 50.00 X 123244 0 19524 MURALIDHARA DIVYA MIDDLE SCHOOL DIRECTOR 50.00 X 109503 0 21199 SCRIBNER HOPKINS ANNE C LOWER SCHOOL DIRECTOR 50.00 X 104245 0 26673 THURSTON JOHN COLLEGE COUNSELOR 50.00 X 103945 0 19001 1011928 0 266957 6 0 1 0 CUSTOM COACH OF PORTLAND 19 BARTLETT ROAD GORHAM ME 04038 TRANSPORTATION SERVICES 167165 1 1778372 62409 1778372 TUITION 611600 18865537 18865537 TUTORING 611600 339714 339714 AFTER SCHOOL & LESSONS 611600 217145 217145 CAFETERIA 722210 113820 113820 TRANSPORTATION 480000 91838 91838 135510 135510 19763564 676903 676903 25600 22934 2666 2666 2666 5077157 1000 4274135 0 803022 1000 804022 804022 23025527 19763564 0 1483591 5327861 5327861 488867 456043 32824 9234420 7837658 1186996 209766 2377112 2104469 229578 43065 641253 503940 120880 16433 26001 26001 23490 23490 65766 65766 27173 26661 512 178928 58929 92265 27734 483258 483258 222374 221965 101 308 553777 553777 856846 856846 102733 102733 MAINTENANCE, SUPPLIES, 1491876 1290737 150898 50241 MISCELLANEOUS 117292 113990 2947 355 DUES & SUBSCRIPTIONS 52980 4738 41936 6306 CAPITAL CAMPAIGN EXPENS 45000 45000 11504 11504 22328511 18933785 2962694 432032 3903445 6157621 3159889 3068078 760994 897393 30060 6343 332954 360345 37477446 13594645 24604878 23882801 19794200 24669090 4098505 5699318 2719 2302 56687644 64743291 1743109 1958201 1620326 3350395 18243059 17794585 1561251 1525575 2225704 1772843 25393449 26401599 X 19814323 23993389 11479872 14348303 31294195 38341692 56687644 64743291 X 697016 5719492 178128 452861 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 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 22364772 505773 2310549 325563 618053 176638 24060840 0.60872 0.27454 0.11674 0 0 714802 714802 34968325 11934499 23033826 444870 358470 86400 1349449 1301676 47773 23882801 HEDGE FUND 5699318 F 5699318 INTEREST RATE SWAP LIABILITY 1772843 1772843 X 23949987 5719492 178128 475795 6373415 17576572 65766 5383189 5448955 23025527 16902490 22934 22934 16879556 65766 5383189 5448955 22328511 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 22,934. UNREALIZED GAIN ON INTEREST RATE SWAP 452,861. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 5,327,861. BAD DEBT EXPENSE 10,328. CAPITAL CAMPAIGN EXPENSE 45,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 22,934. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 5,327,861. CAPITAL CAMPAIGN EXPENSE 45,000. BAD DEBT EXPENSE 10,328. 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 242 5327861 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 271971 0 0 0 51236 0 18697 0 96473 0 438377 0 0 0 BREEN LYNNE M FINLEY DEAN OF ADMISSION 115573 0 0 0 0 0 8336 0 27392 0 151301 0 0 0 SCHEDULE J, PART II GEOFF WAGG'S OTHER COMPENSATION TOTALING $51,236.00 INCLUDES TUITION PAYMENTS OF $34,070 FOR HIS CHILD AND RELATED TAX GROSS-UP ON TUITION IN THE AMOUNT OF $17,166. MR. WAGG'S NON-TAXABLE BENEFITS, WHICH INCLUDE THE EMPLOYER AND EMPLOYEE PORTION OF PREMIUMS PAID, ARE ITEMIZED BELOW: 29,828 HEALTH INSURANCE 1,502 DENTAL INSURANCE 2,625 HEALTH REIMBURSEMENT PLAN 62,518 HOUSING ALLOWANCE ------ 96,473 NON-TAXABLE BENEFIT MS. BREEN'S NON-TAXABLE BENEFITS, WHICH INCLUDE THE EMPLOYER AND EMPLOYEE PORTION OF PREMIUMS PAID, ARE ITEMIZED BELOW: 23,911 HEALTH INSURANCE 756 DENTAL INSURANCE 2,725 HEALTH REIMBURSEMENT PLAN ------ 27,392 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 PEOPLES UNITED BANK NA 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: 10/28/2021 ISSUER NAME: FINANCE AUTHORITY MAINE DATE THE REBATE COMPUTATION WAS PERFORMED: 10/28/2021 INTERESTED PERSON 15000 QUALIFYING NEED-BASED FINANCIAL AID TUITION ASSISTANCE X 7 62409 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 $271,971 FOR BASE COMPENSATION, $34,070 FOR TUITION FOR HIS CHILD AND TAX GROSS-UP ON THE TUITION IN THE AMOUNT OF $17,166, $33,955 FOR EMPLOYER AND EMPLOYEE CONTRIBUTIONS FOR HEALTH AND DENTAL PLANS, EMPLOYEE HEALTH REIMBURSEMENT PLAN AND $62,518 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 452,861. PART XII, LINE 2C PROCEDURES FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT DID NOT CHANGE FROM PRIOR YEARS.