2021-02-08T16:28:51-06:00 2020-06-30 061271935 TRACY E FILLOW CPA 23 SOUTH MAIN ST PO BOX 799 KENT CT 06757 990 2019-07-01 060726595 MARVELWOOD SCHOOL INC MARV 8609275316 476 SKIFF MT RD PO BOX 3001 KENT CT 067573001 DAVID FIORILLO CHIEF FINANCIAL OFFICER 8609275316 2021-02-08 1 TRACY E FILLOW CPA P00634557 8609274848 2021-01-18 X 2019 2022-09-23 18:48:47Z DAVID FIORILLO 476 SKIFF MOUNTAIN ROAD KENT CT 06757 11930845 0 X WWW.MARVELWOOD.ORG X 1956 CT MARVELWOOD IS A BOARDING SCHOOL PROVIDING COLLEGE-PREPARATORY EDUCATION TO APPROX. 100 STUDENTS. 17 17 69 150 0 0 2697477 2324408 7867281 6273320 246683 110325 52505 22379 10863946 8730432 1359200 1517715 0 0 3642776 3222764 0 0 480438 4724181 4580551 9726157 9321030 1137789 -590598 17456943 16459373 8795568 8384099 8661375 8075274 X MARVELWOOD'S MISSION IS TO PROVIDE THE PATH THAT LEADS TOPERSONAL GROWTH AND ACADEMIC SUCCESS FOR YOUNG PEOPLEWILLING TO GET INVOLVED IN THEIR OWN EDUCATION ANDCOMMITTED TO THE CHALLENGE OF PREPARING FOR COLLEGE.THE SCHOOL IS AN OPTIMISTIC PLACE THAT PROVIDES A STRUCTURED,SUPPORTIVE AND CHALLENGING ENVIRONMENT, CELEBRATES DIVERSITY,AND AWAKENS UNTAPPED POTENTIAL. 0 0 7425384 1517715 6293655 MARVELWOOD PROVIDES SECONDARY SCHOOL EDUCATION TO APPROXIMATELY 100, PRIMARILY BOARDING, STUDENTS. NONACADEMIC PROGRAMS INCLUDE WEEKLY COMMUNITY SERVICE, VISUAL AND PERFORMING ARTS ELECTIVES AND INTERSCHOLASTIC AND NONCOMPETITIVE SPORTS. THE SCHOOL PROVIDES A STRUCTURED, SUPPORTIVE AND CHALLENGING ENVIRONMENT FOR COLLEGE PREPARATORY EDUCATION. 7425384 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 56 0 69 1 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 1 0 0 0 0 1 1 0 0 0 1 1 0 1 1 1 0 0 X THE ORGANIZATION 8609275316 476 SKIFF MT RD PO BOX 3001 KENT CT 067573001 TIMOTHY K CARPENTER CHAIR 2.00 X X 0 0 0 MARK ESPOSITO VICE CHAIR, DEVELOPMENT CH 2.00 X X 0 0 0 FRANK MOORE TREASURER, FINANCE CHAIR 2.00 X X 0 0 0 ELLEN MCALLISTER SECRETARY 2.00 X X 0 0 0 PETER TACY BOARD MEMBER 2.00 X 0 0 0 WILLIAM W DENNETT ADMISSIONS COMMITTEE CHAIR 2.00 X 0 0 0 THOMAS SEBRING BOARD MEMBER 2.00 X 0 0 0 RICHARD L HODDESON BOARD MEMBER 2.00 X 0 0 0 ROBERT H BAYNE BOARD MEMBER 2.00 X 0 0 0 PETER B SOMMERFIELD BOARD MEMBER 2.00 X 0 0 0 JOANNE GERSTEN BOARD MEMBER 2.00 X 0 0 0 PATRICK G DUFFY BOARD MEMBER 2.00 X 0 0 0 STEPHEN FORNERIS BOARD MEMBER 2.00 X 0 0 0 LATESIA V HORTON BOARD MEMBER 2.00 X 0 0 0 AMY B STAUB BOARD MEMBER 2.00 X 0 0 0 JULIAN J GOLFARINI BOARD MEMBER 2.00 X 0 0 0 MERV MERZOUG BOARD MEMBER 2.00 X 0 0 0 BLYTHE EVERETT HEAD OF SCHOOL 40.00 X 103208 0 27572 DAVID FIORILLO CHIEF FINANCIAL OFFICER 15.00 X 0 0 0 RICHARD BECKER CHIEF FINANCIAL OFFICER 40.00 X 126709 0 31305 229917 0 58877 2 0 1 0 PREFERRED MAINTENANCE LLC 40 SOUTH END PLAZA NEW MILFORD CT 06776 HOUSEKEEPING 152525 1 2129 2322279 2005032 2324408 TUITION & FEES 900099 6273320 6273320 6273320 107702 107702 3182080 1500 3180957 0 1123 1500 2623 1500 1123 7936 19456 -11520 -11520 OTHER INCOME 900099 18835 18835 FACILITY RENTAL 721000 15064 15064 33899 8730432 6293655 0 112369 1517715 1517715 237768 237768 2373967 1858844 302699 212424 54948 39893 8898 6157 338245 254153 57482 26610 217836 164812 37584 15440 37181 37181 35100 35100 24294 24294 599585 464014 75334 60237 68487 68487 122863 29153 63607 30103 128481 69060 45402 14019 1179284 1049562 106136 23586 135192 49626 55494 30072 250305 222982 22356 4967 800720 712641 72065 16014 220189 207093 10715 2381 FOOD & KITCHEN SERVICES 459321 408796 41339 9186 STUDENT ACTIVITIES 173122 173122 0 0 TEACHING MATERIALS 98227 98227 0 0 DUES, SEMINARS & FEES 60889 15416 40477 4996 187311 90275 72790 24246 9321030 7425384 1415208 480438 2291953 2127064 187521 0 17566 37417 8755 0 62891 49405 17975010 8161337 11087585 9813673 3356448 3982999 444224 448815 17456943 16459373 161335 144629 2394144 1596870 6071570 6536914 168519 105686 8795568 8384099 X 2954304 1669701 5707071 6405573 8661375 8075274 17456943 16459373 X -590598 9602 -5105 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3734932 1750000 118597 7799 1228110 4367620 2824511 1550000 210446 17990 832035 3734932 2862581 211930 6825 243175 2824511 2600805 71965 261776 1857 70108 2862581 2608802 92450 -7997 2454 89996 2600805 0.00000 1.00000 0.00000 0 0 1115711 1115711 14802392 6572286 8230106 1911271 1589051 322220 145636 145636 9813673 STUDENT MISC. ACCOUNTS-CREDITS 100686 RESERVE FOR OTHER LIABILITIES 5000 105686 X 8730091 9602 25592 35194 8694897 24294 11241 35535 8730432 8682279 19456 19456 8662823 24294 633913 658207 9321030 PART V, LINE 4: MARVELWOOD HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ARE INTENDED TO PROVIDE AT LEAST A 5% RETURN TO OPERATIONS OF THE SCHOOL. PORTIONS OF ENDOWMENT EARNINGS ARE RESTRICTED FOR FACULTY SALARIES, SCHOLARSHIPS, STUDENT RECREATION & SUPPORT. THE REMAINDER IS AVAILABLE FOR GENERAL OPERATIONS OF THE SCHOOL. PART X, LINE 2: THE SCHOOL IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT ON NET INCOME DERIVED FROM UNRELATED BUSINESS ACTIVITY. THE SCHOOL HAS DETERMINED THAT NO INCOME TAXES ARE DUE FOR ITS ACTIVITIES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. MANAGEMENT HAS EVALUATED AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO OR DISCLOSURES IN THE FINANCIAL STATEMENTS. TAX RETURNS FILED FOR YEARS ENDING JUNE 30, 2017 AND LATER ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE GOVERNMENT TAX AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF CHARITABLE REMAINDER RECEIVABLE 6,136. COST OF GOODS SOLD 19,456. PART XI, LINE 4B - OTHER ADJUSTMENTS: ACTUAL GAIN ON THE SALE OF INVESTED SECURITIES 11,241. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 19,456. PART XII, LINE 4B - OTHER ADJUSTMENTS: WRITE OFF OF ACHITECT AND ENGINEERING CONSTRUCTION IN PROGRESS 633,913. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL'S WEBSITE HAS THE FOLLOWING STATEMENT DISPLAYED IN A CLEAR AND NOTICEABLE MANNER AT ALL TIMES THROUGHOUT THE FISCAL YEAR: MARVELWOOD SCHOOL ADMIT STUDENTS OF ANY RACE, COLOR, NATIONAL AND ETHNIC ORIGIN 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, NATIONAL AND ETHNIC ORIGIN IN ADMINISTRATION OF THEIR EDUCATIONAL POLICIES, ADDMISSIONS POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, AND ATHLETIC AND OTHER SCHOOL-ADMINISTERED PROGRAMS." SCHEDULE E, PART I, LINE 6 THE SCHOOL RECEIVED A REIMBURSEMENT TYPE GRANT FROM THE REGION 1 REGIONAL SCHOOL SERVICES CENTER. THIS GRANT WAS USED FOR FACULTY DEVELOPMENT. THE TOTAL RECEIVED FOR THE YEAR ENDED JUNE 30, 2020 WAS $2,129. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 ADMISSIONS 2716 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 FUNDRAISING 16879 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 ADMISSIONS 16457 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 ADMISSIONS 2920 RUSSIA AND NEIGHBORING STATES 0 0 ADMISSIONS 3165 SOUTH ASIA 0 0 ADMISSIONS 706 0 0 0 0 0 0 42843 0 42843 0 0 0 0 0 0 PART III ACCOUNTING METHOD: 1 FINANCIAL AID TO STUDENTS ATTENDING MARVELWOOD SCHOOL 44 1517715 FAIR MARKET VALUE DOLLAR FOR DOLLAR REDUCTION OF TUITION AND FEES. PART I, LINE 2: MARVELWOOD SCHOOL AWARDS FINANCIAL AID BASED ON FINANCIAL NEED. THE SCHOOL USES AN OBJECTIVE METHODOLOGY PROVIDED BY AN INDEPENDENT SERVICE FOR CALCULATING A FAMILY'S ABILITY TO CONTRIBUTE TO EDUCATION EXPENSES. FINANCIAL AID IS AWARDED ANNUALLY FOR ONE YEAR, THEREFORE, FINANCIAL AID REQUESTS MUST BE MADE EACH YEAR. FINANCIAL AID IS A DOLLAR FOR DOLLAR REDUCTION IN TUITION; NO CASH IS DISTRIBUTED. THEREFORE, IT IS NOT NECESSARY FOR THE SCHOOL TO MONITOR THE AWARD TO ENSURE PROPER USE. X 0 0 X X X 0 0 0 0 0 0 0 0 0 RICHARD BECKER CHIEF FINANCIAL OFFICER 126709 0 0 0 0 0 4110 0 27195 0 158014 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL, 2019 CHIEF FINANCIAL OFFICER ARE PROVIDED HOUSING ON CAMPUS FOR THE CONVENIENCE OF MARVELWOOD SCHOOOL, INC. PART I, LINE 3 THE BOARD OF DIRECTORS DETERMINES THE COMPENSATION OF THE HEADMASTER AND THE CHIEF FINANCIAL OFFICER. THE BOARD OF DIRECTORS CONSIDERS THE COMPENSATION AT OTHER AREA SCHOOLS BY REFERENCE TO THEIR FORM 990S AND OTHER INFOMATION. A STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 060806186 000000000 2017-12-28 6328000 REFINANCE DEBT AND BUILDING RENOVATION 0 0 0 A 434000 6328000 126560 2000976 4200464 2018 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 1 0 0 1 0 0 0 1 A 1 X 3 2005032 STOCK MARKET QUOTE 0 1 0 FORM 990, PART VI, SECTION A, LINE 4 THE FOLLOWING CHANGES WERE MADE TO THE SCHOOL'S ORGANIZATIONAL DOCUMENT AND FILED WITH THE SECRETARY OF STATE OF CONNECTICUT ON 09/08/2020: 1. A CHANGE IN THE NAME FROM "THE MARVELWOOD SCHOOL, INCORPORATED" TO "THE MARVELWOOD SCHOOL, INC." 2. THE SCHOOL'S PURPOSE, AS IDENTIFIED IN THE ORIGINAL DOCUMENT, LIMITED OPERATIONS TO CORNWALL CONNECTICUT. THE REVISED DOCUMENTS MODIFIES THE PURPOSE OF THE SCHOOL TO REMOVE THE LOCATION. 3. THE REVISED ORGANIZATIONAL DOCUMENT CHANGES THE WORDING OF HOW THE SCHOOL SHOULD OPERATE UNDER THE MANAGEMENT OF A BOARD OF TRUSTEES AND REMOVES THE LIMITATION OF THREE TO TWENTY-ONE TRUSTEES. 4. LIMITATIONS STATED IN ARTICLE VI OF THE ORIGINAL ORGANIZATIONAL DOCUMENTS HAVE BEEN UPDATED AND MODIFIED WITH NO SUBSTANTIVE CHANGES. 5. THE REVISED ORGANIZATIONAL DOCUMENTS UPDATE THE DISSOLUTION PROCEDURES. 6. THE REVISED ORGANIZAIONAL DOCUMENTS LIMITS THE PERSONAL LIABILITY OF TRUSTEES AND INDEMNIFIES THE TRUSTEES AND OFFICERS. 7. THE REVISED ORGANIZATIONAL DOCUMENTS ADD REFERENCES TO THE INTERNAL REVENUE CODE OF 1986 FOR PRIVATE FOUNDATION STATUS AND SELF-DEALING. THE REVISED DOCUMENT CLARIFIES REFERENCES TO THE FEDERAL CODE AND REGULATIONS AND STATE STATUTES. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S POLICY IS TO HAVE FORM 990 REVIEWED BY THE CHIEF FINANCIAL OFFICER PRIOR TO FILING WITH THE IRS. THE CHIEF FINANCIAL OFFICER DISCUSSES THE DOCUMENT IN DETAIL WITH THE CPA PREPARER, WHO MAKES CHANGES PURSUANT TO THAT REVIEW & DISCUSSION AND FINALIZES THE FILING COPY. FORM 990, PART VI, SECTION B, LINE 12 THE ORGANIZATION'S CONFLICT OF INTEREST POLICY STATES THAT ALL TRUSTEES MUST DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST AT THE EARLIEST PRACTICABLE TIME AND THAT NO TRUSTEE SHALL PARTICIPATE IN DISCUSSIONS AND DELIBERATIONS OR VOTE ON ANY MATTER UNDER CONSIDERATION AT A BOARD OR COMMITTEE MEETING IN WHICH SUCH TRUSTEE HAS A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A PERFORMANCE OF THE ORGANIZATION'S CEO/HEAD OF SCHOOL IS EVALUATED ANNUALLY BY THE BOARD PRESIDENT AND AT LEAST TWO MEMBERS OF THE EXECUTIVE COMMITTEE. BASE COMPENSATION IS PAID ACCORDING A CONTRACT. INCREASES IN THE BASE SALARY AMOUNT ARE CONSIDERED AND DETERMINED ANNUALLY BY THE BOARD BASED ON A PERFORMANCE REVIEW, THE SCHOOL'S FINANCES AND OTHER RELEVANT FACTORS. THE COMPENSATION OF ALL OTHER EMPLOYEES IS DETERMINED BY THE HEADMASTER AND THE BOARD THROUGH THE NORMAL BUDGETARY PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF CHARITABLE REMAINDER RECEIVABLE 6,136. ACTUAL INVESTED SECURITIES SALES REPORTED ON FORM 990 -11,241.