2021-05-06T11:39:55-05:00 2020-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2019-07-01 560944449 CHARLOTTE LATIN SCHOOLS CHAR 7048467299 9502 PROVIDENCE ROAD CHARLOTTE NC 282778695 FLETCHER GREGORY CFO/ASSOCIATE HEAD OF SCHOOL 7048467299 2021-05-03 1 AMANDA ADAMS P00748038 7043771678 2019 2022-09-23 18:48:47Z FLETCHER GREGORY 9502 PROVIDENCE ROAD CHARLOTTE NC 282778695 46900581 0 X WWW.CHARLOTTELATIN.ORG X 1970 NC CHARLOTTE LATIN IS AN ACCREDITED, INDEPENDENT, CO-EDUCATIONAL, NON-SECTARIAN, COLLEGE-PREPARATORY DAY SCHOOL SERVING 1,422 STUDENTS IN TRANSITIONAL KINDERGARTEN THROUGH THE TWELFTH GRADE. LATIN DOES NOT DISCRIMINATE ON THE BASIS OF SEX, RACE, COLOR, RELIGION, DISABILITY, AGE, OR NATIONAL ORIGIN IN THE ADMINISTRATION OF ITS EDUCATIONAL PROGRAMS, ADMISSIONS POLICIES, FINANCIAL AID POLICIES, EMPLOYMENT PRACTICES, OR OTHER SCHOOL-ADMINISTERED PROGRAMS. 21 21 496 0 0 0 6921590 4165844 34310129 35105012 1595480 151555 0 0 42827199 39422411 2355616 2448789 0 0 25356464 26652569 0 109813 2106775 10972564 10800632 38684644 40011803 4142555 -589392 118269073 120877859 45907359 47717624 72361714 73160235 X CHARLOTTE LATIN SCHOOL'S MISSION IS TO ENCOURAGE INDIVIDUAL DEVELOPMENT AND CIVILITY IN OUR STUDENTS BY INSPIRING THEM TO LEARN, BY ENCOURAGING THEM TO SERVE OTHERS, AND BY OFFERING THEM MANY GROWTH-PROMOTING OPPORTUNITIES. THROUGH A SHARED COMMITMENT TO EXCELLENCE AND CORE VALUES, THE SCHOOL PROVIDES A STRONG SENSE OF COMMUNITY, WHICH VALUES TEACHING AND CELEBRATES LEARNING. LATIN PROMOTES A BALANCED LEARNING ENVIRONMENT THAT IS TRADITIONAL IN DESIGN, BUT INNOVATIVE IN IMPLEMENTATION. INTELLECTUAL DEVELOPMENT IS ENCOURAGED BY TEACHING CRITICAL THINKING SKILLS AND PROVIDING RELEVANT LEARNING EXPERIENCES IN ALL AREAS OF STUDY. 0 0 29565913 2448789 33663739 CLS ENROLLED AND EDUCATED 1,430 STUDENTS IN GRADES TRANSITIONAL KINDERGARTEN THROUGH 12TH GRADE IN THE 2019-2020 SCHOOL YEAR. 988203 934718 CLS PROVIDED SPECIAL PROGRAMS, SUCH AS DAY CARE, EXTENDED DAY CARE, SUMMER CAMPS, CLINICS, AND EDUCATIONAL RESOURCES TO STUDENTS IN GRADES PRE-KINDERGARTEN THROUGH 12TH GRADE. 833290 506555 CLS PROVIDED FOOD AND TRANSPORTATION SERVICES TO STUDENTS IN GRADES TRANSITIONAL KINDERGARTEN THROUGH 12TH GRADE. 31387406 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 52 0 1 496 1 0 0 0 0 0 0 0 0 0 0 1 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NC X FLETCHER GREGORY 7048467299 9502 PROVIDENCE ROAD CHARLOTTE NC 282778695 THAD M SHARRETT CHAIR 1.00 X X 0 0 0 DENNY S O'LEARY VICE CHAIR 1.00 X X 0 0 0 JOYCELYN C LAVELLE SECRETARY 1.00 X X 0 0 0 R MITCHELL WICKHAM TREASURER 1.00 X X 0 0 0 WILLIAM C ADAMS BOARD MEMBER 1.00 X 0 0 0 LYNN G CRUTCHFIELD BOARD MEMBER 1.00 X 0 0 0 MARY KATHERINE DUBOSE BOARD MEMBER 1.00 X 0 0 0 ADAORA A ERUCHALU BOARD MEMBER 1.00 X 0 0 0 DEBBIE S FRAIL BOARD MEMBER 1.00 X 0 0 0 MIKE D FRENO BOARD MEMBER 1.00 X 0 0 0 ISRAEL K GORELICK BOARD MEMBER 1.00 X 0 0 0 JONATHAN S HALKYARD BOARD MEMBER 1.00 X 0 0 0 COURTNEY P HYDER BOARD MEMBER 1.00 X 0 0 0 JOY M KENEFICK BOARD MEMBER 1.00 X 0 0 0 ERIC J LLOYD BOARD MEMBER 1.00 X 0 0 0 KARIM LOKAS BOARD MEMBER 1.00 X 0 0 0 JOHN T MCCOY BOARD MEMBER 1.00 X 0 0 0 A COY MONK IV BOARD MEMBER 1.00 X 0 0 0 JOHN G NORMAN BOARD MEMBER 1.00 X 0 0 0 ROBERT A SCHLEUSNER III BOARD MEMBER 1.00 X 0 0 0 WALKER C SIMMONS BOARD MEMBER 1.00 X 0 0 0 CHARLES D BALDECCHI HEAD OF SCHOOL 50.00 X 484798 0 51791 FLETCHER H GREGORY III ASSOCIATE HEAD OF SCHOOL/CFO 50.00 X 230063 0 40860 TODD BALLABAN HEAD OF MIDDLE SCHOOL 50.00 X 161943 0 33434 MARCUS TAYLOE HEAD OF LOWER SCHOOL 50.00 X 154859 0 35982 LAWRENCE WALL HEAD OF UPPER SCHOOL 50.00 X 160064 0 25094 FREDRIK AKERBLOM DIRECTOR OF DEVELOPMENT 50.00 X 192259 0 34447 DANIEL CHAMBERLAIN ASSOC. HEAD FOR ACADEMIC AFFAIRS 50.00 X 161501 0 32181 ARCHIBALD MCINTOSH JR FORMER HEAD OF SCHOOL 50.00 X 1386639 0 30786 2932126 0 284575 20 1 1 0 CHOATE CONSTRUCTION COMPANY 2907 PROVIDENCE ROAD 400 CHARLOTTE NC 28211 CONSTRUCTION/REPAIRS 7388779 WHALEN TENNIS CO 12 AMBER LANE ASHEVILLE NC 28803 CONSTRUCTION/REPAIRS 578485 CONSOLIDATED CONTRACT SERVICES 1507 TURRING DRIVE INDIAN TRAIL NC 28079 CUSTODIAL CONTRACT 379685 JR CREATIVE CONSTRUCTION INC 5215 KODIAK COURT CHARLOTTE NC 28215 CONSTRUCTION/REPAIRS 249065 LITTLE DIVERSIFIED ARCHITECTURAL CONSULT 5815 WEST PARK DRIVE CHARLOTTE NC 28217 ARCHITECTURAL 197375 9 4165844 815944 4165844 TUITION 900099 33663739 33663739 TRANSPORTATION 900099 506555 506555 ENRICHMENT 900099 384637 384637 SUMMER CAMP REVENUE 900099 287850 287850 EXTENDED CARE 900099 182296 182296 79935 79935 35105012 318129 318129 7311596 7478170 -166574 -166574 -166574 39422411 35105012 0 151555 2448789 2448789 2192176 1718551 364939 108686 18716326 14672617 3115767 927942 1559703 1222725 259649 77329 2685057 2104944 446990 133123 1499307 1175378 249594 74335 4372 4372 54875 54875 109813 109813 259799 259799 1114789 654638 418118 42033 196281 79937 116344 86751 68008 14442 4301 1753786 1382990 291354 79442 512452 495896 10423 6133 106933 83830 17801 5302 666857 522781 111014 33062 3172594 2487147 528152 157295 199319 156256 33181 9882 MATERIALS & SUPPLIES 1975764 1657993 295126 22645 TEACHER RECRUITMENT 88852 69656 14791 4405 PROGRAMS AND ASSEMBLIES 76793 76793 530415 308477 27235 194703 40011803 31387406 6517622 2106775 10033453 6404757 3341258 6659274 7605362 6429742 628003 205543 240000 12552 47234 514272 407076 94116988 39482722 47894952 54634266 48013912 45618629 225309 231338 118269073 120877859 5091456 4833543 14556359 13805545 24708510 27589235 1551034 1489301 45907359 47717624 X 47397051 49520001 24964663 23640234 72361714 73160235 118269073 120877859 -589392 1387913 0 X 0 1 X 1 0 X 4863927 7076071 5985737 6921590 4165844 29013169 4863927 7076071 5985737 6921590 4165844 29013169 1070548 27942621 802809 718148 778654 1282388 318129 3900128 32913297 164228279 0.84900 0.83650 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 37463106 116995 933838 1540525 36973414 33162416 3149008 2257637 1105955 37463106 30114563 2105642 1809082 229269 637602 33162416 27891840 162673 3181734 195697 925987 30114563 29012980 508005 -509183 1119962 27891840 0.53900 0.28280 0.17820 0 0 4008417 4008417 79255842 34004722 45251120 9040627 5478000 3562627 1812102 1812102 54634266 DEFERRED COMPENSATION 494932 CAPITAL LEASE OBLIGATION 994369 1489301 X 38101736 1387913 1387913 36713823 259799 2448789 2708588 39422411 37303215 0 37303215 259799 2448789 2708588 40011803 PART V, LINE 4: ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS, GENERAL OPERATING EXPENSES, AND PROPERTY AND EQUIPMENT IMPROVEMENTS AND UPKEEP. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL AND STATE INCOME TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME UNRELATED TO ITS EXEMPT FUNCTION, IF ANY, IS SUBJECT TO INCOME TAXATION. MANAGEMENT BELIEVES THAT THE SCHOOL CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AND IS NOT SUBJECT TO TAX. NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE SCHOOL FOLLOWS FINANCIAL ACCOUNTING STANDARDS BOARD GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE SCHOOL'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE SCHOOL, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION TAKEN BY MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE SHOWN NET OF REVENUE ON FINANCIALS 2,448,789. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE SHOWN NET OF REVENUE ON FINANCIALS 2,448,789. 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 SCHOOL'S RACIALLY NON-DISCRIMINATORY POLICY TOWARDS STUDENTS IS PUBLISHED THROUGH A PRINTED STATEMENT OF THE SCHOOL'S ADMINISTRATION POLICY IN A LOCAL NEWSPAPER AND MAGAZINE ADVERTISEMENTS. EUROPE 0 0 PROGRAM SERVICES SUMMER TRAVEL PROGRAM FOR STUDENTS 12057 CENTRAL AMERICA 0 0 PROGRAM SERVICES SUMMER TRAVEL PROGRAM FOR STUDENTS 9420 SOUTH AMERICA 0 0 PROGRAM SERVICES SUMMER TRAVEL PROGRAM FOR STUDENTS 2100 0 0 0 0 0 0 23577 0 23577 0 0 0 0 0 0 PART I, LINE 3: AMOUNTS REPORTED IN PART I, LINE 3 WERE CALCULATED USING THE ACCRUAL METHOD OF ACCOUNTING. PART I, LINE 3: ALL SUMMER TRAVEL PROGRAMS FOR STUDENTS WERE CANCELLED DURING THE YEAR DUE TO THE COVID-19 PANDEMIC. THE AMOUNTS IN PART I, LINE 3 REPRESENT THE AMOUNTS FOR THESE SUMMER TRAVEL PROGRAMS THAT WERE NON-REFUNDABLE. PART III ACCOUNTING METHOD: X X X X X X 1 LUQUIRE GEORGE ANDREWS 4201 CONGRESS STREET SUITE 400 CHARLOTTE NC 28209 COMMUNICATION STRATEGY, CREATIVE DEVELOPMENT AND WEBSITE DEV 0 0 109813 -109813 109813 -109813 NC 1 SCHOLARSHIPS AND FINANCIAL ASSISTANCE TO STUDENTS 181 315915 2132874 TUITION RATES FINANCIAL AID AND SCHOLARSHIPS PART I, LINE 2: THE PURPOSE OF THE ENDOWED SCHOLARSHIP FUNDS IS TO PROVIDE FINANCIAL AID (FULL OR PARTIAL) FOR A STUDENT WHO, WITHOUT AID, COULD NOT ATTEND CHARLOTTE LATIN SCHOOL. IN ADDITION TO DEMONSTRATING FINANCIAL NEED, RECIPIENTS SHOULD ALSO DEMONSTRATE LEADERSHIP QUALITIES, A COMMITMENT TO HELPING OTHERS, A SENSE OF COMMUNITY, AND AN ENTHUSIASM FOR ACTIVITIES BEYOND THEIR CLASSROOM STUDIES THAT WILL BRING POSITIVE RECOGNITION TO THEM, AND THROUGH THEM, TO THEIR SCHOOL. ALL CANDIDATES MUST FOLLOW STANDARD ADMISSIONS PROCEDURES, INCLUDING TESTING AND INTERVIEWS. SCHOLARSHIPS ARE NEED AND MERIT-BASED. THEREFORE, ACADEMIC PERFORMANCE AND STRONG CITIZENSHIP, AS WELL AS DEMONSTRATED FINANCIAL NEED, WILL BE CONSIDERED. ONCE THE SCHOLARSHIP IS RECEIVED, THE RECIPIENT WILL CONTINUE TO RECEIVE IT FOR HIS OR HER TENURE AT CHARLOTTE LATIN SCHOOL, PROVIDED STANDARD CHARLOTTE LATIN SCHOOL REGULATIONS ARE OBSERVED AND ACADEMIC STANDARDS ARE MET. AMOUNTS RECEIVED FOR TUITION ASSISTANCE OR SCHOLARSHIPS ARE CREDITED DIRECTLY TO THE STUDENTS' ACCOUNTS. X X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 CHARLES D BALDECCHI HEAD OF SCHOOL 271350 0 0 0 213448 0 37500 0 14291 0 536589 0 0 0 FLETCHER H GREGORY III ASSOCIATE HEAD OF SCHOOL/CFO 227777 0 0 0 2286 0 25850 0 15010 0 270923 0 0 0 TODD BALLABAN HEAD OF MIDDLE SCHOOL 139723 0 0 0 22220 0 12141 0 21293 0 195377 0 0 0 MARCUS TAYLOE HEAD OF LOWER SCHOOL 154085 0 0 0 774 0 14689 0 21293 0 190841 0 0 0 LAWRENCE WALL HEAD OF UPPER SCHOOL 159290 0 0 0 774 0 16367 0 8727 0 185158 0 0 0 FREDRIK AKERBLOM DIRECTOR OF DEVELOPMENT 157599 0 0 0 34660 0 13154 0 21293 0 226706 0 0 0 DANIEL CHAMBERLAIN ASSOC. HEAD FOR ACADEMIC AFFAIRS 156566 0 0 0 4935 0 13418 0 18763 0 193682 0 0 0 ARCHIBALD MCINTOSH JR FORMER HEAD OF SCHOOL 179408 0 542647 0 664584 0 18460 0 12326 0 1417425 0 300000 0 PART I, LINE 1A CHARLES D. BALDECCHI, HEAD OF SCHOOL, RECEIVED GROSS UP FEDERAL AND STATE TAX FOR REPORTABLE BENEFITS RECEIVED. THESE AMOUNTS ARE TREATED AS TAXABLE COMPENSATION TO THE HEAD OF SCHOOL. THE SCHOOL ALSO PAYS THE DUES FOR A MEALS-ONLY CLUB WHERE THE HEAD OF SCHOOL CAN TAKE VARIOUS CONSTITUENTS ON SCHOOL RELATED BUSINESS. A PORTION OF THE CLUB DUES ARE TREATED AS TAXABLE COMPENSATION FOR THE PERSONAL USE OF CLUB FACILITIES. PART I, LINE 4B CHARLES D. BALDECCHI, HEAD OF SCHOOL, PARTICIPATED IN A NON-QUALIFIED DEFERRED COMPENSATION PLAN DURING THE YEAR. TO THE EXTENT THAT THE TERMS OF THE SCHOOL'S 403(B) PLAN DO NOT PERMIT THE MAXIMUM AMOUNT ALLOWABLE UNDER THE INTERNAL REVENUE CODE FOR EMPLOYER CONTRIBUTIONS AND EMPLOYEE ELECTIVE DEFERRALS TO A RETIREMENT PLAN, THE SCHOOL WILL CREDIT THE AMOUNT OF SUCH SHORTFALL TO THE NON-QUALIFIED DEFERRED COMPENSATION PLAN ON HIS BEHALF. DURING THIS FISCAL YEAR, THE SCHOOL CONTRIBUTED $37,500 TO THIS PLAN. THE AMOUNTS CREDITED WILL NOT VEST UNTIL CERTAIN CONDITIONS HAVE BEEN MET. ARCHIBALD N. MCINTOSH, JR., FORMER HEAD OF SCHOOL, PARTICIPATED IN A NON-QUALIFIED DEFERRED COMPENSATION PLAN DURING THE YEAR. THE TERMS OF THE PLAN PROVIDED THAT UPON HIS RETIREMENT, HE WOULD RECEIVE $50,000 PER YEAR FOR A PERIOD OF FIFTEEN YEARS. THE AMOUNTS TO BE PAID TO HIM IN THE FUTURE VESTED UPON HIS RETIREMENT AND THE PRESENT VALUE OF SUCH AMOUNTS ($625,731) WERE REPORTED TO HIM AS TAXABLE INCOME IN CALENDAR YEAR 2019 AND HAVE BEEN INCLUDED IN PART II, COLUMN (B)(III). PART I, LINE 7 THE HEAD OF SCHOOL IS ELIGIBLE FOR AN ANNUAL INCENTIVE BONUS OF UP TO 10% OF THE EMPLOYEE'S ANNUAL SALARY. THE AMOUNT OF THE BONUS IS DETERMINED ON AN ANNUAL BASIS BY THE EXECUTIVE COMMITTEE OF THE BOARD BASED ON THE EMPLOYEE'S PERFORMANCE MEASURED AGAINST THE EMPLOYEE'S PERFORMANCE GOALS FOR THE YEAR. DURING THE TAX YEAR, THE SCHOOL ALSO PAID A TRANSITION BONUS TO FORMER HEAD OF SCHOOL, ARCHIBALD N. MCINTOSH, PURSUANT TO A WRITTEN CONTRACT APPROVED BY THE BOARD OF DIRECTORS. THE BONUS IS IN RECOGNITION OF MR. MCINTOSH'S LONG AND DISTINGUISHED SERVICE TO THE CHARLOTTE LATIN SCHOOL AND TO ENSURE A SMOOTH TRANSITION TO HIS SUCCESSOR. A PUBLIC FINANCE AUTHORITY 273866124 000000000 2017-10-31 29700000 REFUND PRIOR BOND AND NEW CAPITAL IMPROVEMENTS 0 0 0 A 1708189 29700000 458651 19478241 9763108 1 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 1 0 0 0 1 A 1 CHARLES D BALDECCHI HEAD OF SCHOOL ONBOARDING X 300000 240000 0 1 1 240000 X 51 815494 AVG HIGH/LOW PRICE X MUSICAL INSTRUMENTS 4 450 FMV 0 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE 990 DRAFT WILL BE REVIEWED BY THE FINANCE COMMITTEE. IN ORDER TO PROTECT THE PRIVACY OF DONORS, THE PUBLIC DISCLOSURE COPY IS PRESENTED TO THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD ANNUALLY REVIEWS AND SIGNS THE CONFLICT OF INTEREST POLICY AT ITS FIRST MEETING OF THE SCHOOL YEAR. IN THE EVENT THERE IS A CONFLICT DURING THE YEAR, THAT MEMBER WILL RECUSE HIMSELF/HERSELF FROM ANY DISCUSSION OR VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES IS CHARGED WITH THE HEAD OF SCHOOL'S ANNUAL REVIEW AND, AT CONTRACT TIME, WITH THE CRAFTING OF THE HEAD OF SCHOOL'S CONTRACT. THE COMMITTEE USES 990 DATA, EXECUTIVE COMPENSATION SURVEY DATA AND NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS) DATA AND INDEX SURVEY DATA TO DETERMINE ITS COMPENSATION PACKAGE FOR THE HEAD OF SCHOOOL. THE DISCUSSIONS ARE DOCUMENTED IN THE MEETING MINUTES. REGARDING OTHER TOP MANAGEMENT OFFICIALS, THE COMPENSATION IS DETERMINED BY THE HEAD OF SCHOOL. COMPARABLE DATA FROM OTHER LOCAL, SIMILAR SIZED SCHOOLS, COMPENSATION SURVEYS AND DATA FROM NAIS IS USED TO DETERMINE SALARIES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.