2022-05-11T14:19:55-05:00 2021-06-30 410746749 CLIFTONLARSONALLEN LLP 29 S MAIN STREET 4TH FLOOR WEST HARTFORD CT 06107 990 2020-07-01 042103563 TRUSTEES OF DEERFIELD ACADEMY TRUS 4137740241 PO BOX 87 DEERFIELD MA 013420087 MATTHEW SHEEHY CFO 4137740241 2022-05-11 1 MATTHEW SHEEHY 999009999 JOHN TOSCANO P00358542 8605614000 2022-05-11 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z MATTHEW SHEEHY PO BOX 87 DEERFIELD MA 013420087 215893100 0 X WWW.DEERFIELD.EDU X 1797 MA DEERFIELD ACADEMY IS AN INDEPENDENT SECONDARY SCHOOL COMMITTED TO HIGH STANDARDS OF SCHOLARSHIP, CITIZENSHIP, AND PERSONAL RESPONSIBILITY. THROUGH A RIGOROUS LIBERAL ARTS CURRICULUM, EXTENSIVE CO-CURRICULAR PROGRAM, AND SUPPORTIVE RESIDENTIAL ENVIRONMENT, DEERFIELD ENCOURAGES EACH STUDENT TO DEVELOP AN INQUISITIVE AND CREATIVE MIND, SOUND BODY, AND STRONG MORAL CHARACTER. 27 25 580 471 3359038 2782693 20154510 36305649 38974078 40199335 27407423 65940747 483986 1224965 87019997 143670696 11782164 12392979 0 0 34227932 35594715 0 1000 4832299 26481604 35516401 72491700 83505095 14528297 60165601 1009854595 1240159164 84667233 81489041 925187362 1158670123 X DEERFIELD ACADEMY IS AN INDEPENDENT SECONDARY SCHOOL COMMITTED TO HIGH STANDARDS OF SCHOLARSHIP, CITIZENSHIP, AND PERSONAL RESPONSIBILITY. THROUGH A RIGOROUS LIBERAL ARTS CURRICULUM, EXTENSIVE CO-CURRICULAR PROGRAM, AND SUPPORTIVE RESIDENTIAL ENVIRONMENT, DEERFIELD ENCOURAGES EACH STUDENT TO DEVELOP AN INQUISITIVE AND CREATIVE MIND, SOUND BODY, AND STRONG MORAL CHARACTER. 0 0 66063660 12392979 40336355 DURING THE 2020-2021 ACADEMIC YEAR, 577 BOARDING AND 72 DAY STUDENTS WERE ENROLLED AT DEERFIELD ACADEMY. OUR PROGRAMS OF SECONDARY EDUCATION (GRADES 9-12) INCLUDE THE DEVELOPMENT OF OUR STUDENTS' ACADEMIC AND SCHOLARSHIP SKILLS, CITIZENSHIP AND CHARACTER. COMMUNITY SERVICE, ATHLETIC PROGRAMS AND EXTRA-CURRICULAR ACTIVITIES ARE INTEGRATED AS A PART OF THE SCHOOL'S LONGSTANDING INTELLECTUAL AND MORAL TRADITION. 66063660 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 154 0 1 580 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 27 25 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MA X GREG ROLLAND CONTROLLER 4137741412 DEERFIELD ACADEMY DEERFIELD MA 013420087 AUSTIN JOHN HEAD OF SCHOOL/TRUSTEE 60.00 X X 799294 0 129971 SIMMONS BRIAN PRESIDENT 8.00 X X 0 0 0 GOVI LEILA VICE PRESIDENT 5.00 X X 0 0 0 WRIGHT VICTOR SECRETARY 3.00 X X 0 0 0 RUTH ALICE TREASURER 2.00 X X 0 0 0 CLARK BENJAMIN TRUSTEE 2.00 X 0 0 0 DOWLING III JOSEPH TRUSTEE 2.00 X 0 0 0 EDWIN ANNA TRUSTEE 2.00 X 0 0 0 FLEMING SR GREGORY TRUSTEE 2.00 X 0 0 0 GREENHILL JOSHUA TRUSTEE 2.00 X 0 0 0 GREER PHILIP TRUSTEE 2.00 X 0 0 0 HARSCH AMY TRUSTEE 2.00 X 0 0 0 IDEHEN JR FRANCIS TRUSTEE 2.00 X 0 0 0 KUO STANFORD TRUSTEE 2.00 X 0 0 0 LAVELY VANESSA TRUSTEE 2.00 X 0 0 0 LEIST ELIZABETH TRUSTEE 2.00 X 0 0 0 MCINERNEY MARK TRUSTEE 2.00 X 0 0 0 MOSLEY DANIEL TRUSTEE 2.00 X 0 0 0 NEWTON DIANA TRUSTEE 2.00 X 0 0 0 PARKER C ALLEN TRUSTEE 2.00 X 0 0 0 QUAZZO STEPHEN TRUSTEE 2.00 X 0 0 0 ROBERTS JANICE TRUSTEE 2.00 X 0 0 0 ROCKEFELLER MARK TRUSTEE 2.00 X 0 0 0 STEIN ELLEN TRUSTEE 2.00 X 0 0 0 ULLYOT THEODORE TRUSTEE 2.00 X 0 0 0 WACHSMAN RODOLFO TRUSTEE 2.00 X 0 0 0 WEYMOUTH ELIZABETH TRUSTEE 2.00 X 0 0 0 FINAN KEITH CHIEF FINANCIAL OFFICER 60.00 X 345670 0 60071 ROMBERGER ANN CHIEF ADVANCEMENT OFFICER 60.00 X 286808 0 51688 TAYLOR JOHN DEAN OF FACULTY 60.00 X 235484 0 90943 BENSON BRYANT DIRECTOR OF MEDICAL SERVICES 60.00 X 187572 0 77047 SPENCER MARK DIRECTOR OF COLLEGE ADVISING 60.00 X 165416 0 92122 SHELBURNE ERIKA DIRECTOR OF INTL. ADVANCEMENT 60.00 X 196459 0 32922 KIMBERLY BUTZ DIRECTOR OF ITS/COMPUTER SCIENCE 60.00 X 164510 0 60762 MOORE RACHEL DIRECTOR OF LEADERSHIP GIFTS 60.00 X 185263 0 39279 2566476 0 634805 31 0 1 0 SEASIDE ICE LLC DBA ICE AMERICA 807 SPRUCELAKE DRIVE HARBOR CITY CA 90710 ICE RINK PRODUCTION 399285 MAHAFFEY USA 4161 DELP STREET MEMPHIS TN 38118 EVENT & TENT RENTALS 377782 JOHN MOORE PAINTING 785 WENDELL ROAD SHUTESBURY MA 01072 PAINTING & RESTORATION 157004 CALLAHAN PAINTING 8A HARKNESS ROAD PELHAM MA 01002 PAINTING & RESTORATION 149883 STOREBECK SEARCH LLC 1400 N PROVIDENCE ROAD SUITE 300 MEDIA PA 19063 EXECUTIVE SEARCH 130101 6 36305649 17254258 36305649 TUITION AND FEES 611710 39841874 39841874 AUXILIARY PROGRAMS 611710 288986 288986 SUMMER EDUCATION 611710 68475 68475 40199335 2551754 -1614507 4166261 135424344 72035351 63388993 63388993 4973545 58415448 324073 187053 137020 137020 GAIN ON BOND REFINANCING 900099 1018687 1018687 OTHER REVENUE 900099 69258 69258 1087945 143670696 40336355 3359038 63669654 537433 537433 11855546 11855546 1832421 239836 1174955 417630 136435 23949 26000 86486 23283753 17549173 3368303 2366277 2492143 1858583 382301 251259 5962392 4092396 1221625 648371 1887571 1355657 337944 193970 379041 379041 81500 81500 1000 1000 424823 424823 527937 197009 130994 199934 54547 18572 14986 20989 861860 395841 370686 95333 1149774 928617 188044 33113 3355213 3155242 166419 33552 70206 67062 507 2637 215565 137489 77451 625 1582011 1582011 8779874 8256593 435482 87799 772946 772946 COVID RESPONSE 11899018 10583901 1315117 FOOD 1221832 1189681 14708 17443 EQUIPMENT 517077 367728 101585 47764 TEXTBOOKS 352032 350933 1005 94 3271145 1320408 1622714 328023 83505095 66063660 12609136 4832299 33087 26394 21611611 26746910 41902387 32231379 417107 320559 389057 345918 1998380 1030139 356562035 87932305 270786137 268629730 273203254 287915352 392994069 622259602 6519506 653181 1009854595 1240159164 5503112 7097573 3574255 3459958 47416689 43546000 25000000 25000000 3173177 2385510 84667233 81489041 X 380909725 439067485 544277637 719602638 925187362 1158670123 1009854595 1240159164 X 60165601 178023007 -4705847 X 0 1 X 1 0 X 22354964 34636830 18154289 20154510 36305649 131606242 22354964 34636830 18154289 20154510 36305649 131606242 29328989 102277253 1667402 2362622 3188264 4502881 4166261 15887430 261233 2776517 4711 27622 3359221 6429304 1224436 1238311 1211562 35690 1087945 4797944 158720920 196092449 0.64440 0.61410 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER REVENUE - 2016 AMOUNT: $ 89,472. 2017 AMOUNT: $ 137,432. 2018 AMOUNT: $ 121,820. 2019 AMOUNT: $ -16,204. 2020 AMOUNT: $ 69,258. OUTSIDE FUNCTION REVENUE - 2016 AMOUNT: $ 18,543. 2017 AMOUNT: $ 14,845. 2018 AMOUNT: $ 16,642. 2019 AMOUNT: $ 14,351. 2020 AMOUNT: $ 0. SALES OF INVENTORY - 2016 AMOUNT: $ 986,098. 2017 AMOUNT: $ 987,053. 2018 AMOUNT: $ 1,039,104. 2020 AMOUNT: $ 0. SUMMER SPORTS CAMP - 2016 AMOUNT: $ 130,323. 2017 AMOUNT: $ 98,981. 2018 AMOUNT: $ 33,996. 2019 AMOUNT: $ 37,543. 2020 AMOUNT: $ 0. GAIN ON BOND REFINANCING - 2020 AMOUNT: $ 1,018,687. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X EDUCATION 0 632329934 25616179 231963328 9707258 16648720 863553463 603352392 7573791 46050201 8926394 15720056 632329934 595378477 6564194 24410447 8241481 14759245 603352392 569543991 8181268 60065227 7566898 34845111 595378477 503540868 7014018 79008835 6977497 13042233 569543991 0.26000 0.74000 0.00000 1 0 5068626 5068626 317610654 66068342 251542312 23470781 15668431 7802350 10411974 6195532 4216442 268629730 HEDGE FUNDS 325323163 F ALTERNATIVE ASSETS 287481290 F CASH AND CASH EQUIVALENTS 9455149 F 622259602 LIFE INCOME OBLIGATIONS 2385510 2385510 304165828 178023007 -16941183 161081824 143084004 586692 586692 143670696 70683067 187053 187053 70496014 586692 12422389 13009081 83505095 PART III, LINE 1A: CONTRIBUTIONS OF ASSETS OTHER THAN CASH ARE RECORDED AT THEIR ESTIMATED FAIR VALUE AT THE DATE OF GIFT EXCEPT THAT CONTRIBUTIONS OF WORKS OF ART, HISTORICAL TREASURES AND SIMILAR ASSETS HELD AS PART OF COLLECTIONS ARE NOT RECOGNIZED OR CAPITALIZED. PART III, LINE 4: DEERFIELD ACADEMY MAINTAINS A COLLECTION OF ART AND HISTORICAL ITEMS FOR USE IN ITS ADVANCEMENT OF STUDENT EDUCATION AND AS A RESOURCE FOR THE STUDY AND EXPLORATION OF ART, HISTORY, CULTURE, CURRENT AFFAIRS, AESTHETICS, AND MEDIA. PART V, LINE 4: ENDOWMENT FUNDS ARE FOR FINANCIAL AID, FACULTY SALARIES, PROFESSIONAL DEVELOPMENT, GENERAL OPERATIONS, AND OTHER. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 187,053. FINANCIAL AID & TUITION REMISSION -12,422,389. CHANGE IN PLEDGE RESERVES -4,705,847. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 187,053. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID & TUITION REMISSION 12,422,389. 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 NONDISCRIMINATION STATEMENT IS AVAILABLE ON OUR WEBSITE. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 481146406 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 24688333 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 INVESTMENTS -12716 0 0 0 0 0 0 505822023 0 505822023 1 0 1 1 1 0 PART III ACCOUNTING METHOD: 1 TOWN OF DEERFIELD 501(C)(3) 439500 4500 COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES GENERAL SUPPORT UNITED WAY OF FRANKLIN COUNTY 042212894 501(C)(3) 20079 GENERAL SUPPORT DEERFIELD AREA FIRE PROTECTION DISTRICT 501(C)(4) 23400 GENERAL SUPPORT SECOND HELPINGS CO EPISCOPAL CHURCH OF SAINTS JAMES AND ANDREW 833210345 501(C)(3) 13300 COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES GENERAL SUPPORT BIG BROTHERSBIG SISTERS OF FRANKLIN COUNTY 042491950 501(C)(3) 10000 1194 COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES GENERAL SUPPORT FRONTIER REGIONAL AND UNION #38 SCHOOL DISTRICTS 501(C)(3) 25000 460 COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES GENERAL SUPPORT 5 1 SCHOLARSHIPS 236 11307290 CASH VALUE TUITION & FEES OTHER STUDENT SUPPORT 71 548256 CASH VALUE OTHER STUDENT SUPPORT PART I, LINE 2: GRANTS ARE NEEDS-BASED FINANCIAL AID AND ARE PROVIDED VIA A REDUCTION IN TUITION. X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 AUSTIN JOHN HEAD OF SCHOOL/TRUSTEE 574923 0 0 0 224371 0 55007 0 74964 0 929265 0 0 0 FINAN KEITH CHIEF FINANCIAL OFFICER 326420 0 0 0 19250 0 38230 0 21841 0 405741 0 0 0 ROMBERGER ANN CHIEF ADVANCEMENT OFFICER 286808 0 0 0 0 0 37126 0 14562 0 338496 0 0 0 TAYLOR JOHN DEAN OF FACULTY 219984 0 0 0 15500 0 30950 0 59993 0 326427 0 0 0 BENSON BRYANT DIRECTOR OF MEDICAL SERVICES 185172 0 0 0 2400 0 24940 0 52107 0 264619 0 0 0 SPENCER MARK DIRECTOR OF COLLEGE ADVISING 164216 0 0 0 1200 0 21497 0 70625 0 257538 0 0 0 SHELBURNE ERIKA DIRECTOR OF INTL. ADVANCEMENT 181459 0 0 0 15000 0 25022 0 7900 0 229381 0 0 0 KIMBERLY BUTZ DIRECTOR OF ITS/COMPUTER SCIENCE 162110 0 0 0 2400 0 21097 0 39665 0 225272 0 0 0 MOORE RACHEL DIRECTOR OF LEADERSHIP GIFTS 175513 0 0 0 9750 0 23837 0 15442 0 224542 0 0 0 PART I, LINE 1A FIRST CLASS TRAVEL IS ALLOWED FOR INTERNATIONAL TRIPS ONLY. CERTAIN PERSONAL SERVICES ARE PROVIDED TO THE HEAD OF SCHOOL AND SPOUSE, TO ASSIST THEM IN FULFILLING THEIR RESPONSIBILITIES AND DUTIES TO THE ACADEMY. THESE POLICIES ARE IN WRITING. EMPLOYEES WHO ARE PROVIDED HOUSING ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. THESE HOMES ARE AVAILABLE FOR HOUSING VISITORS AND FOR OTHER USES DURING SCHOOL SPONSORED EVENTS. PART I, LINE 4B JOHN AUSTIN PARTICIPATES IN A 457(F) PLAN. A MA DEVELOPMENT FINANCE AGENCY 043431814 2013-05-02 15000000 TO EXPAND AND RENOVATE THE FINE ARTS BUILDING 0 0 0 B MA DEVELOPMENT FINANCE AGENCY 043431814 2020-07-22 60615000 REFUNDING OF SERIES 2010 BONDS AND FOR ANTICIPATED CONSTRUCTION PROJECT 0 0 0 A 9000000 15000000 107600 14892400 2014 0 0 1 1 B 60615000 39351000 195577 21068423 1 0 0 0 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MA DEVELOPMENT FINANCE AGENCY DATE THE REBATE COMPUTATION WAS PERFORMED: 04/22/2022 ELIZABETH DICKSON SIBLING OF TRUSTEE MEMBER 86486 TOTAL COMPENSATION AND BENEFITSDIRECTOR OF THE ANNUAL FUND 0 LORI CLARK SPOUSE OF TRUSTEE MEMBER 13949 TOTAL COMPENSATION AND BENEFITSVIS. & PERF. ARTS TEACHER 0 MONICA MATOUK SPOUSE OF HEAD OF SCHOOL 36000 TOTAL COMPENSATION AND BENEFITS 0 X 229 17244634 MARKET VALUE X 2 9624 COST 0 1 0 PART I, COLUMN (B): THE UNITS SHOWN ARE THE NUMBER OF SEPARATE STOCK DONATIONS RECEIVED. FORM 990, PART VI, SECTION A, LINE 7A EXISTING BOARD MEMBERS VOTE IN NEW BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B COPIES OF THIS 2020 FORM 990 WERE SENT TO THE AUDIT COMMITTEE AND THE BOARD PRESIDENT, VICE PRESIDENT AND TREASURER, WHICH REPRESENTS APPROXIMATELY 30% OF THE ENTIRE BOARD. PRIOR TO FILING, A MEETING WITH THE AUDIT COMMITTEE MEMBERS AND MANAGEMENT TOOK PLACE IN ORDER TO REVIEW THE RETURN AND ANSWER ALL QUESTIONS. THIS FORM 990, EXCLUDING SCHEDULE B, SCHEDULE OF CONTRIBUTORS, WAS PROVIDED TO ALL OTHER MEMBERS OF THE BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BY-LAWS PROHIBIT A TRUSTEE FROM VOTING, APPROVING, OR MAKING A RECOMMENDATION REGARDING A TRANSACTION BETWEEN THE ACADEMY AND AN ENTITY IN WHICH THE INDIVIDUAL OR A MEMBER OF HIS OR HER FAMILY HAS AN OWNERSHIP INTEREST. MANAGEMENT ANNUALLY REVIEWS CONFLICT OF INTEREST QUESTIONNAIRES TO MONITOR AND ENFORCE COMPLIANCE WITH POLICY. FORM 990, PART VI, SECTION B, LINE 15A DEERFIELD ACADEMY'S BOARD OF TRUSTEES OVERSEES THE COMPENSATION OF THE ACADEMY'S TOP MANAGEMENT OFFICIALS. HEAD OF SCHOOL - THE PERSONNEL & COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS SALARY AND PERQUISITE DATA FROM OTHER INDEPENDENT SCHOOLS FOR THE POSITION OF HEAD OF SCHOOL TO ENSURE COMPENSATION IS REASONABLE AND APPROPRIATE TO THE MARKET. MINUTES OF THE PERSONNEL & COMPENSATION COMMITTEE MEETING ARE MAINTAINED DOCUMENTING THE DISCUSSIONS REGARDING THE COMPENSATION SETTING FOR THE HEAD OF SCHOOL. SENIOR STAFF - THE HEAD OF SCHOOL REVIEWS, IN CONJUNCTION WITH THE PRESIDENT OF THE BOARD, SALARY AND PERQUISITE DATA FROM OTHER INDEPENDENT SCHOOLS FOR OTHER TOP MANAGEMENT OFFICIALS, TO ENSURE COMPENSATION IS REASONABLE AND APPROPRIATE TO THE MARKET. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: INCREASE IN PLEDGE RESERVES -4,705,847.