2022-03-24T17:13:21-05:00 2021-06-30 410746749 CLIFTONLARSONALLEN 29 SOUTH MAIN STREET 4TH FLOOR WEST HARTFORD CT 06107 990 2020-07-01 060646921 THE TAFT SCHOOL CORPORATION TAFT 8609457777 110 WOODBURY RD WATERTOWN CT 06795 JOHN H ODDEN ASS'T TREASURER/ASS'T SECRETARY 8609457777 2022-03-24 1 JOHN ODDEN 999009999 JOHN TOSCANO P00358542 8605614000 2022-03-24 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z JOHN H ODDEN 110 WOODBURY RD WATERTOWN CT 06795 119396530 0 X WWW.TAFTSCHOOL.ORG X 1930 CT THE MISSION OF THE SCHOOL IS TO EDUCATE THE WHOLE STUDENT. 30 30 297 0 -3098 0 9782774 10561264 35917452 35619532 13180393 21079135 659675 297906 59540294 67557837 8888585 9074611 0 0 24447579 25326689 115421 82910 2912247 18273950 18903040 51725535 53387250 7814759 14170587 392170576 483373071 47496958 69115084 344673618 414257987 THE MISSION OF THE SCHOOL IS TO EDUCATE THE WHOLE STUDENT. 0 0 44604388 9074611 35907962 PROVIDE EDUCATION SERVICES AND SUPPORT FOR APPROXIMATELY 600 STUDENTS IN GRADES NINE THROUGH POST-GRADUATE IN A BOARDING AND DAY SETTING. 44604388 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 0 1 1 1 0 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 151 0 1 297 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X JOHN H ODDEN 8609457770 110 WOODBURY RD WATERTOWN CT 06795 JONATHAN D ALBERT TRUSTEE 0.50 X 0 0 0 SUPRIYA BALSEKAR BOOTH TRUSTEE 0.50 X 0 0 0 PETER BOWDEN TRUSTEE 0.50 X 0 0 0 HENRY G BRAUER TRUSTEE 0.50 X 0 0 0 DIANA CALVARUSO TRUSTEE 0.50 X 0 0 0 FOSTER CHIANG TRUSTEE 0.50 X 0 0 0 NANA CHIU TRUSTEE 0.50 X 0 0 0 KATAMA EASTMAN TRUSTEE 0.50 X 0 0 0 ICY H FRANTZ TRUSTEE 0.50 X 0 0 0 J KINGMAN GORDON TRUSTEE 0.50 X 0 0 0 NIKKI GREENE TRUSTEE 0.50 X 0 0 0 MICHAEL M HUMPHREYS TRUSTEE 0.50 X 0 0 0 SARKIS D IZMIRLIAN TRUSTEE 0.50 X 0 0 0 JAY F KREHBIEL TRUSTEE 0.50 X 0 0 0 ERNEST O KWARTENG TRUSTEE 0.50 X 0 0 0 AMANDA C MCGOVERN TRUSTEE 0.50 X 0 0 0 PAUL T MCGOWAN SECRETARY 0.50 X X 0 0 0 AMISH H MEHTA TREASURER 0.50 X X 0 0 0 ANTHONY W PASQUARIELLO TRUSTEE 0.50 X 0 0 0 E MARC PINTO TRUSTEE 0.50 X 0 0 0 GRANT A PORTER CHAIRMAN 0.50 X X 0 0 0 JACQUELINE ROSA TRUSTEE 0.50 X 0 0 0 ROBERT F SAVAGE JR TRUSTEE 0.50 X 0 0 0 LISA M SEGALAS TRUSTEE 0.50 X 0 0 0 KATE GENUNG TAYLOR TRUSTEE 0.50 X 0 0 0 MARGARET FITZGERALD WAGNER TRUSTEE 0.50 X 0 0 0 LAURA B WHITMAN TRUSTEE 0.50 X 0 0 0 ABRA PRENTICE WILKIN TRUSTEE 0.50 X 0 0 0 SCOTT G WILLARD TRUSTEE 0.50 X 0 0 0 JOANNE K ZIESING TRUSTEE 0.50 X 0 0 0 WILLIAM MACMULLEN PRESIDENT/HEAD OF SCHOOL 40.00 X 454708 0 137589 JOHN H ODDEN ASST TREASURER/ASST SECRET 40.00 X 229760 0 115918 ARTHUR L CRIMMINS DIR. OF DEVELOPMENT 40.00 X 249496 0 64591 DIANE FOUNTAS DIR. OF HEALTH CENTER 40.00 X 188086 0 28153 PETER A FREW DIR. OF ADMISSIONS 40.00 X 163956 0 48115 KAITLIN ORFITELLI DIR. OF MARKETING & COMMUN 40.00 X 147893 0 53077 DONALD BARTON CONTROLLER - THRU 12/2020 40.00 X 145710 0 50010 ELIZABETH WELCH ASSOCIATE DIR. OF DEVELOPMENT 40.00 X 145390 0 57244 1724999 0 554697 36 0 1 0 ARAMARK CORPORATION PO BOX 91337 CHICAGO IL 60693 FOOD SERVICES 2501909 NEW PROVIDENCE ASSET MANAGEMENT 650 FIFTH AVE 16TH FLOOR NEW YORK NY 10001 INVESTMENT MANAGEMENT 963110 BUSHKA LUMBER & MILLWORK LLC 305 FAIRFIELD AVENUE WATERBURY CT 06708 CONSTRUCTION SERVICES 367555 ASTRO ELECTRIC INC 680 RIVERSIDE ST WATERBURY CT 06708 ELECTRICAL SERVICES 224237 MIRIMUS INC 760 PARKSIDE AVE BROOKLYN NY 11226 COVID TESTING 133948 6 10561264 889685 10561264 STUDENT TUITION 611110 35442077 35442077 PROGRAM FEES 611110 177455 177455 35619532 3379429 -3098 3382527 5000 0 5000 5000 5000 69313053 51613347 17699706 17699706 17699706 365653 225346 140307 140307 AUXILIARY INCOME 611110 152599 148123 4476 152599 67557837 35907962 -3098 21091709 9074611 9074611 1183553 865042 318511 17233688 14863187 963521 1406980 1483056 1318743 59315 104998 4134317 3468980 353484 311853 1292075 1092081 86368 113626 71150 71150 82910 82910 1386444 1386444 4942757 3953827 879094 109836 82656 80494 2162 967725 577019 218102 172604 610103 594100 9450 6553 2140734 2070115 39773 30846 126626 71479 50846 4301 150705 144939 1471 4295 1366545 1321465 25389 19691 5193866 5022528 96498 74840 545848 527842 10141 7865 GENERAL AND INSTITUTION 752365 752365 STUDENT SERVICES 200022 200022 DEVELOPMENT 142538 142538 INSTRUCTION 131137 131137 91819 91819 53387250 44604388 5870615 2912247 6951118 22405864 7138626 6907709 604091 14349392 301939 269612 358871 779314 209795355 95331375 116304219 114463980 97697713 131340013 162410230 192454656 403769 402531 392170576 483373071 900140 2750038 4744374 22306959 35286825 38188052 103093 28537 1000000 0 5462526 5841498 47496958 69115084 X 168129366 189578711 176544252 224679276 344673618 414257987 392170576 483373071 X 14170587 55751006 -337224 X X 0 1 X 1 0 X 7686838 9591431 9260670 9782774 10561264 46882977 7686838 9591431 9260670 9782774 10561264 46882977 2540163 44342814 1934700 2424706 3953782 4642095 3387527 16342810 111677 192387 199461 202220 0 705745 93679 74970 64200 53605 4476 290930 64222462 181037779 0.69050 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 0 0 255973204 279934 73504630 4294050 7705950 317757768 264656428 1615337 701439 4355688 6644312 255973204 259644515 5578399 10433514 4213609 6786391 264656428 244940289 5988619 19015607 3881047 6418953 259644515 223883573 2899516 28457200 3777533 6522467 244940289 0.33760 0.66240 0 0 3033210 3033210 183350899 78208609 105142290 13719888 12500744 1219144 9691358 4622022 5069336 114463980 PRIVATE EQUITIES AND ALTERNATIVE INVESTMENTS 192454656 F 192454656 LIABILITIES UNDER SPLIT-INTEREST AGREEMENTS 5841498 5841498 112735910 55751006 -111878 55639128 57096782 1386444 9074611 10461055 67557837 43151541 225346 225346 42926195 1386444 9074611 10461055 53387250 PART III, LINE 1A: THE SCHOOL HAS A COLLECTION OF ARTWORK WHICH IS ON PUBLIC DISPLAY THROUGHOUT ITS CAMPUS BUILDINGS. THE SCHOOL FOLLOWS A POLICY OF NOT CAPITALIZING THE COLLECTION OF ARTWORK IN ITS FINANCIAL STATEMENTS. ACCORDINGLY, NO COLLECTION ITEMS ARE RECOGNIZED AS ASSETS, WHETHER THEY ARE PURCHASED OR RECEIVED AS A CONTRIBUTION. PURCHASES OF COLLECTION ITEMS REDUCE NET ASSETS IN THE PERIOD OF PURCHASE. PROCEEDS FROM SALES OR INSURANCE RECOVERIES ARE RECORDED AS INCREASES IN NET ASSETS WHEN RECEIVED. NO ITEMS WERE PURCHASED FOR OR REMOVED FROM THE COLLECTION IN 2021. PART III, LINE 4: COLLECTIONS ARE COMPRISED OF VARIOUS PAINTINGS AND SCULPTURES THAT ARE ON DISPLAY THROUGHTOUT THE SCHOOL FOR THE CULTURAL ENRICHMENT OF ITS STUDENT BODY. PART V, LINE 4: RESTRICTED ENDOWMENT FUNDS ARE USED IN ACCORDANCE WITH DONOR-IMPOSED STIPULATIONS. UNRESTRICTED ENDOWMENT FUNDS, INCLUDING BOARD DESIGNATED FUNDS, ARE USED IN ACCORDANCE WITH THE SPENDING POLICY APPROVED BY THE BOARD OF TRUSTEES. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 225,346. CHANGE IN VALUE OF TRUSTS -337,224. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 9,074,611. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 225,346. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 9,074,611. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 2423750 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 79570699 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 INVESTMENTS 3012957 0 0 0 0 0 0 85007406 0 85007406 1 0 1 0 1 0 PART I, LINE 3: THE LISTED INVESTMENTS RELATE TO HOLDINGS IN THE SCHOOL'S ENDOWMENT FUND. PART III ACCOUNTING METHOD: X X X X X 1 SPENCER GROUP INC 130 S WILLARD STREET BURLINGTON VT 05401 CONSULTING 0 0 44590 0 PENTERA INC 8650 COMMERCE PARK PLACE STE G INDIANAPOLIS IN 04626 CONSULTING 0 0 38320 0 82910 CT 0 STUDENT FINANCIAL AID 212 0 9074609 FMV TUITION AND FEES ASSISTANCE PART I, LINE 2: ALL FINANCIAL AID RECIPIENTS ARE REQUIRED TO COMPLETE A FINANCIAL AID STATEMENT AND PROVIDE THE NECESSARY SUPPORTING DOCUMENTATION. X X 1 1 X X X 0 1 0 0 0 0 0 0 0 WILLIAM MACMULLEN PRESIDENT/HEAD OF SCHOOL 446554 0 1000 0 7154 0 78700 0 58889 0 592297 0 0 0 JOHN H ODDEN ASST TREASURER/ASST SECRET 228760 0 1000 0 0 0 17233 0 98685 0 345678 0 0 0 ARTHUR L CRIMMINS DIR. OF DEVELOPMENT 247440 0 1000 0 1056 0 8933 0 55658 0 314087 0 0 0 DIANE FOUNTAS DIR. OF HEALTH CENTER 187086 0 1000 0 0 0 15388 0 12765 0 216239 0 0 0 PETER A FREW DIR. OF ADMISSIONS 162956 0 1000 0 0 0 20100 0 28015 0 212071 0 0 0 ELIZABETH WELCH ASSOCIATE DIR. OF DEVELOPMENT 144390 0 1000 0 0 0 18654 0 38590 0 202634 0 0 0 KAITLIN ORFITELLI DIR. OF MARKETING & COMMUN 146893 0 1000 0 0 0 12720 0 40357 0 200970 0 0 0 DONALD BARTON CONTROLLER - THRU 12/2020 144710 0 1000 0 0 0 15270 0 34740 0 195720 0 0 0 PART I, LINE 1A AS THE SCHOOL OPERATES AS A BOARDING SCHOOL WITH APPROXIMATELY 500 STUDENTS RESIDING ON CAMPUS, CERTAIN INDIVIDUALS ARE REQUIRED TO RESIDE ON CAMPUS.THE VALUE OF SCHOOL HOUSING PROVIDED FOR THIS PURPOSE MEETS THE REQUIREMENT FOR TAX EXEMPTION UNDER IRC SECTION 119, AND ACCORDINGLY, IS INCLUDED IN NON-TAXABLE BENEFITS. PART I, LINE 4B THE HEAD OF SCHOOL PARTICIPATES IN A 457(F) PLAN. A CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY SERIES K 060806186 20774Y5P8 2018-09-11 22669365 DEFEASE SERIES E AND SERIES J 0 0 0 B CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY SERIES L 060806186 20775DKV3 2021-04-07 16267476 TO REDEEM SERIES I ISSUE, TO FUND ISSUANCE AND CONSTRUCTION COSTS 0 0 0 A 22669365 369365 22300000 1 0 0 1 B 16267476 8936976 325350 7005150 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 0 1 0 0 0 1 B 0 0 0 0 0 0 0 0 1 A 1 FORM 990, SCHEDULE K PART I, LINE A (E) AND PART II, COLUMN A, LINE 3 THE ISSUE PRICE INCLUDES THE PREMIUM PAID BY THE SCHOOL AT ISSUANCE. FORM 990, SCHEDULE K PART I, LINE B (E) AND PART II, COLUMN B, LINE 3 THE ISSUE PRICE INCLUDES THE PREMIUM PAID BY THE SCHOOL AT ISSUANCE. PAMELA MACMULLEN SPOUSE OF HEAD OF SCHOOL 153980 EMPLOYEE COMPENSATION AS ENGLISH TEACHERAND AEROBICS INSTRUCTOR 0 X 86 889685 FMV 0 1 0 PART I, COLUMN (B): THE AMOUNT REPORTED IN PART I, (B) REPRESENTS THE NUMBER OF GIFTS RECEIVED. FORM 990, PART VI, SECTION B, LINE 11B THE ASSISTANT TREASURER AND THE CONTROLLER REVIEW A COPY OF THE DRAFT FORM 990, WHICH IS PREPARED BY THE SCHOOL'S EXTERNAL AUDIT FIRM. THE DRAFT FORM 990 IS PROVIDED TO ALL AUDIT AND FINANCIAL RISK COMMITTEE MEMBERS SEVERAL DAYS IN ADVANCE OF A SCHEDULED AUDIT AND FINANCIAL RISK COMMITTEE MEETING. HIGHLIGHTS OF THE FORM 990 ARE SUBSEQUENTLY PRESENTED TO THE BOARD OF TRUSTEES AT A REGULARLY SCHEDULED MEETING FOR FULL BOARD DISCUSSION AND COMMENT. IN ORDER TO PROTECT THE PRIVACY OF ITS DONOR BASE, THE SCHOOL CHOOSES TO DISTRIBUTE TO THE BOARD A COPY OF FORM 990 WHICH EXCLUDES SCHEDULE B. ALL OTHER PAGES, SCHEDULES AND ATTACHMENTS ARE PROVIDED IN FULL TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL HAS A WRITTEN CONFLICT OF INTEREST POLICY. ALL TRUSTEES, OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO SIGN A COPY OF THE CONFLICT OF INTEREST STATEMENT. ISSUES THAT PRESENT A POTENTIAL CONFLICT OF INTEREST RELATED TO ANY CURRENT TRUSTEE, OFFICER OR KEY EMPLOYEE ARE BROUGHT TO THE ATTENTION OF THE FULL BOARD OF TRUSTEES FOR DISCUSSION AND INCLUSION IN BOARD MINUTES. THE TRUSTEE, OFFICER OR KEY EMPLOYEE THAT IS IDENTIFIED AS POSSIBLY HAVING A CONFLICT OF INTEREST IS ASKED TO RECUSE THEMSELVES FROM THE MEETING AND DISCUSSION OF THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE HEAD OF SCHOOL/PRESIDENT OF THE CORPORATION IS DETERMINED BY THE GOVERNANCE COMMITTEE, INDEPENDENTLY OF THAT INDIVIDUAL, BASED UPON SURVEY DATA COLLECTED RELATED TO THE COMPENSATION OF THE HEADS OF 39 COMPARABLE BOARDING SCHOOLS. COMPENSATION FOR KEY EMPLOYEES IS DETERMINED BY THE PRESIDENT OF THE CORPORATION, INDEPENDENTLY OF THOSE INDIVIDUALS, BASED UPON COMPENSATION DATA SURVEYED FROM THOSE SAME 39 SCHOOLS AND REVIEWED BY THE GOVERNANCE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE TAFT SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF TRUSTS -337,224. FORM 990, PART XII, LINE 2C: THERE HAVE BEEN NO CHANGES THE THE SCHOOL'S OVERSIGHT OR SELECTION PROCESSES DURING THE TAX YEAR.