2021-03-12T11:56:53-06:00 2020-06-30 410746749 CLIFTONLARSONALLEN LLP 29 S MAIN STREET PO BOX 2720 WEST HARTFORD CT 061272000 990 2019-07-01 060646786 MISS PORTER'S SCHOOL INC MISS 8604093500 60 MAIN STREET FARMINGTON CT 060322232 MICHAEL J BERGIN CFO 8604093500 2021-03-01 1 JOHN TOSCANO P00358542 8605614000 2021-03-01 2019 2022-09-23 18:48:47Z MICHAEL J BERGIN 60 MAIN STREET FARMINGTON CT 060322232 76474083 0 X WWW.PORTERS.ORG X 1943 CT MISS PORTER'S SCHOOL EXCELS AT PREPARING YOUNG WOMEN FOR COLLEGE, FOR LEADERSHIP, AND FOR LIFE. OUR ATTENTIVE, DIVERSE BOARDING AND DAY COMMUNITY PROVIDES A DEMANDING CURRICULUM - ACADEMIC, ARTISTIC, ATHLETIC AND RESIDENTIAL. WE CHALLENGE OUR STUDENTS TO BECOME INFORMED, BOLD, RESOURCEFUL AND ETHICAL GLOBAL CITIZENS. WE EXPECT OUR GRADUATES TO SHAPE A CHANGING WORLD. 22 21 279 369 136858 0 9004108 6665661 18819178 19743329 15651442 16053521 511802 362847 43986530 42825358 4245792 4362022 0 0 13563667 14452928 0 0 2848313 12210885 10604510 30020344 29419460 13966186 13405898 182701009 187780731 23667097 21496339 159033912 166284392 MISS PORTER'S SCHOOL EDUCATES YOUNG WOMEN TO BECOME INFORMED, BOLD, RESOURCEFUL AND ETHICAL GLOBAL CITIZENS. WE EXPECT OUR GRADUATES TO SHAPE A CHANGING WORLD. 0 0 21150370 4362022 19738822 INDEPENDENT SECONDARY SCHOOL WITH 224 BOARDERS AND 109 DAY STUDENTS, 43 SARAH PORTER LEADERSHIP INSTITUTE, 11 LEADING WELL, 15 WRITERS WORKSHOP, 11 STEAM INSTITUTE, 18 GLOBAL LANGUAGE & LEADERSHIP INSTITUTE, 13 INSTITUTE FOR GLOBAL EDUCATION, 16 TECHNOLOGY, AND INNOVATION & ENTREPRENEURSHIP. 21150370 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 1 0 0 1 0 0 0 0 1 116 0 1 279 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 22 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X MICHAEL J BERGIN 8604093500 60 MAIN STREET FARMINGTON CT 060322232 KATHERINE G WINDSOR HEAD OF SCHOOL 40.00 X X 615101 0 209372 MICHAEL BERGIN CFO/COO 40.00 X 413220 0 95057 CHRISTINE PINA CHIEF ADVANCEMENT OFFICER 40.00 X 272645 0 91680 ELIZABETH SCHMITT CHIEF ENROLLMENT AND STUDENT AFFAIRS 40.00 X 165936 0 78239 TIMOTHY QUINN CHIEF ACADEMIC OFFICER AND DEAN OF FACULTY 40.00 X 135147 0 74898 CRISTINA DIEGUEZ-KUO CAMPAIGN DIRECTOR 40.00 X 143385 0 16026 ANA DAVIS CHIEF COMMUNICATIONS OFFICER 40.00 X 136688 0 13936 GAYLYNN BURROUGHS VICE CHAIR OF THE BOARD 5.00 X X 0 0 0 DR KIMBERLY BOWERS CAPRIO TRUSTEE 1.00 X 0 0 0 SARAH CLARK TRUSTEE 3.00 X 0 0 0 SOPHIE BASS CROMMETT TRUSTEE 1.00 X 0 0 0 ILONA RAND DOTSON TRUSTEE 2.00 X 0 0 0 ALTHEA BEATON DUCARD TRUSTEE 2.00 X 0 0 0 LISA KUNSTADTER TRUSTEE 1.00 X 0 0 0 SARAH KLISH LIU TRUSTEE 3.00 X 0 0 0 J MICHAEL MCQUADE TREASURER 5.00 X X 0 0 0 MARTIN NANCE TRUSTEE 3.00 X 0 0 0 ELIZABETH DENNY ONEGLIA TRUSTEE 1.00 X 0 0 0 MARTHA POMERANTZ TRUSTEE 2.00 X 0 0 0 AMANI REED TRUSTEE 1.00 X 0 0 0 REMY SCHWARTZ TRUSTEE 2.00 X 0 0 0 LISA TOWNSON SEAMAN TRUSTEE 2.00 X 0 0 0 ELISE DE COMPIEGNE SHATTO TRUSTEE 3.00 X 0 0 0 NANCY SIMPKINS SECRETARY 5.00 X X 0 0 0 KAREN T STAIB CHAIR OF THE BOARD 5.00 X X 0 0 0 ASHLEY JONES TAGATAC TRUSTEE 1.00 X 0 0 0 CLAIRE THEOBALD TRUSTEE 3.00 X 0 0 0 JONATHAN USICH TRUSTEE 2.00 X 0 0 0 1882122 0 579208 8 0 1 0 BROCK AND COMPANY INC 257 GREAT VALLEY PARKWAY MALVERN PA 19355 FOOD SERVICES 1600680 CONTEMPO RESTORATION REMODELING & PAINT PO BOX 1454 FARMINGTON CT 06034 CONSTRUCTION 711792 OFFIT CAPITAL 485 LEXINGTON AVENUE FL 24 NEW YORK NY 10017 INVESTMENT ADVISORY SERVICES 390662 LAROSA BUILDING GROUP LLC 163 RESEARCH PARKWAY MERIDEN CT 06450 CONSTRUCTION 196920 CENTERBROOK ARCHITECTS & PLANNERS LLP PO BOX 955 CENTERBROOK CT 06409 ARCHITECTURAL SERVICES 175268 8 6665661 317093 6665661 TUITION & FEES 611110 19374866 19374866 PROGRAM SUPPORTING REV 611110 254324 254324 AUXILIARY INCOME 611110 114139 114139 19743329 1397819 23303 1374516 123516 0 123516 123516 110256 13260 48219720 21000 33585018 0 14634702 21000 14655702 3299 14652403 59200 63707 -4507 -4507 DAY CARE INCOME 624410 243838 243838 243838 42825358 19738822 136858 16284017 4362022 4362022 1276973 474340 723576 79057 9613348 6072723 1819979 1720646 956295 597692 192147 166456 1912899 1231992 402751 278156 693413 417967 160551 114895 16482 16482 64160 64160 388736 388736 2717610 2020979 484371 212260 37833 162 26120 11551 1211371 930972 211758 68641 262746 202535 45023 15188 1073728 934143 139585 554614 394004 74519 86091 80784 61591 11804 7389 586569 458146 128423 2766185 2406581 359604 259356 225640 33716 DEPARTMENTAL EVENTS AND 390458 231518 82394 76546 MEMBERSHIP DUES 129869 74554 43878 11437 ROF EXPENSES 52809 52809 BAD DEBTS 11200 11200 29419460 21150370 5420777 2848313 8119814 5982816 2910070 4322097 3940868 3939253 23465 53597 182388 181458 14297 87013 78215 790052 618276 83473252 44194776 37356187 39278476 49655977 61657562 79620878 71668981 182701009 187780731 1325954 1468885 4274410 3305726 17493885 16199141 62266 55824 510582 466763 23667097 21496339 X 42078426 43513084 116955486 122771308 159033912 166284392 182701009 187780731 X 13405898 -6060033 -95385 X X 0 1 X 1 0 X 5672285 4912616 4981433 9004108 6665661 31236103 5672285 4912616 4981433 9004108 6665661 31236103 5408116 25827987 557215 439833 726539 2383907 1387776 5495270 156146 253556 140341 170622 136858 857523 177527 261250 294650 320153 243838 1297418 38886314 1297418 0.66420 0.59670 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: DAYCARE CENTER - 2015 AMOUNT: $ 148,597. 2016 AMOUNT: $ 249,973. 2017 AMOUNT: $ 284,035. 2018 AMOUNT: $ 320,153. 2019 AMOUNT: $ 243,838. FUNDRAISING PROCEEDS - 2015 AMOUNT: $ 28,930. 2016 AMOUNT: $ 11,277. 2017 AMOUNT: $ 10,615. 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 129307370 889724 9519282 1297183 4980539 133438654 123778495 4184297 7376024 986443 5045003 129307370 114889758 2273869 12547145 964728 4967549 123778495 105878901 1126780 13519395 937505 4697813 114889758 113113332 2151970 -3733396 885338 4767667 105878901 0.15600 0.84400 0.00000 0 0 1923357 1923357 63151203 34021572 29129631 10007439 8377385 1630054 8391253 1795819 6595434 39278476 OPPORTUNISTIC - FIXED INCOME 3762771 F LARGE CAP EQUITY FUNDS 15169772 F INTERNATIONAL EQUITY FUNDS 3396005 F FUND OF FUNDS 24910605 F PRIVATE EQUITY 19153929 F PRIVATE CREDIT 844393 F REAL ASSETS 281506 F REAL ESTATE - OPEN ENDED 4150000 F 71668981 STUDENT ACTIVITY FUNDS 75007 ANNUITIES PAYABLE 391756 466763 31982888 -6060033 63707 -5996326 37979214 388736 4457408 4846144 42825358 24732408 63707 63707 24668701 388736 4362023 4750759 29419460 PART IV, LINE 2B: SECURITY DEPOSITS FOR HOUSING AND DORMS ARE HELD IN AN ESCROW ACCOUNT. PART V, LINE 4: INCOME FROM ENDOWMENT FUNDS IS DRAWN IN ACCORDANCE WITH THE SCHOOL'S SPENDING POLICY AND USED IN ACCORANCE WITH DONOR - IMPOSED STIPULATION OR, IN THE ABSENCE THEREOF, TO SUPPORT THE SCHOOL'S GENERAL OPERATING EXPENSES, INCLUDING SALARIES, FINANCIAL AID AND FACILITIES MAINTENANCE. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 63,707. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 4,362,023. PROVISION FOR UNCOLLECTIBLE PLEDGES 68,612. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 26,773. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 63,707. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 4,362,023. 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 STATEMENT ON NONDISCRIMINATION IS PUBLISHED YEAR-ROUND ON THE SCHOOL'S WEBSITE. ALL PRINT ADVERTISEMENTS INCLUDE AN ABRIDGED VERSION OF THIS POLICY. NORTH AMERICA 0 0 PROGRAM SERVICES SOFTWARE, EQUIPMENT 3852 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES INTERMISSION PROGRAM 11218 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES INTERMISSION PROGRAM 2000 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 29868651 0 0 0 0 0 0 29885721 0 29885721 1 0 1 1 1 0 PART III ACCOUNTING METHOD: SCHEDULE F, PART I, LINE 3(D) INVESTMENTS INCLUDED IN THIS SECTION RELATE TO INVESTMENT HOLDINGS INCLUDED IN THE SCHOOL'S ENDOWMENT PORTFOLIO. 1 SCHOLARSHIPS FOR STUDENTS ATTENDING MPS 162 0 4288762 FMV REDUCTION IN TUITION MEDICAL INSURANCE PREMIUMS AND EXPENSES 4 7114 0 FMV CASH ASSISTANCE AND SCHOOL EXPENSES 43 66146 0 FMV PART I, LINE 2: FINANCIAL AID IS DETERMINED THROUGH THE ANALYSIS OF A FAMILY'S FINANCIAL RESOURCES, INCLUDING INCOME AND ASSETS. TO DETERMINE AWARDS, THE FINANCIAL AID COMMITTEE EVALUATES FINANCIAL INFORMATION AND STRIVES TO MAKE FAIR AND OBJECTIVE FINANCIAL AID DECISIONS BASED ON THE NEEDS ANALYSIS SYSTEM OF THE SCHOOL AND STUDENT SERVICES (SSS) FOR FINANCIAL ASSISTANCE, A SERVICE OF THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS. SSS PROVIDES PORTER'S WITH A REPORT OF FAMILY CONTRIBUTION WHICH IS USED AS A GUIDE. HOWEVER, THE SCHOOL COMPLETES AN INDEPENDENT CALCULATION FOR EVERY APPLICATION. X X X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 KATHERINE G WINDSOR HEAD OF SCHOOL 375238 0 0 0 239863 0 140368 0 69004 0 824473 0 0 0 MICHAEL BERGIN CFO/COO 250068 0 0 0 163152 0 32867 0 62190 0 508277 0 0 0 CHRISTINE PINA CHIEF ADVANCEMENT OFFICER 272645 0 0 0 0 0 34522 0 57158 0 364325 0 0 0 ELIZABETH SCHMITT CHIEF ENROLLMENT AND STUDENT AFFAIRS 165936 0 0 0 0 0 19462 0 58777 0 244175 0 0 0 TIMOTHY QUINN CHIEF ACADEMIC OFFICER AND DEAN OF F 134147 0 1000 0 0 0 14880 0 60018 0 210045 0 0 0 CRISTINA DIEGUEZ-KUO CAMPAIGN DIRECTOR 143385 0 0 0 0 0 14559 0 1467 0 159411 0 0 0 ANA DAVIS CHIEF COMMUNICATIONS OFFICER 136688 0 0 0 0 0 13669 0 267 0 150624 0 0 0 PART I, LINE 1A GROSS-UP IS PROVIDED FOR EDUCATION BENEFITS, CERTAIN EMPLOYEES ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. PART OF EMPLOYEE CONTRACT INCLUDES MEMBERSHIP TO A COUNTRY CLUB, HOUSECLEANING SERVICES. PART I, LINE 4B THE HEAD OF SCHOOL PARTICIPATES IN A 457(F) PLAN. A ST CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 060646786 2015-08-18 23031000 REFUND 6-12-06 BOND ISSUE AND PROCEEDS FOR CONSTRUCTION AND RENOVATIONS 0 0 0 A 4087829 20488138 181767 3457138 16045000 2542862 2016 0 1 0 1 A 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 0 A 1 SCHEDULE K, PART IV, LINE 2C THERE IS NO ARBITRAGE. KATHERINE G WINDSOR HEAD OF SCHOOL PART OF COMPENSATION PACKAGE X 180000 180000 0 1 1 MICHAEL J BERGIN CFO COMPUTER X 2500 1458 0 0 1 181458 SCHEDULE L, PART II, LOANS TO AND FROM INTERESTED PERSONS: NAME OF PERSON: MICHAEL J. BERGINCOMPUTER LOANS ARE ENTERED INTO IN ACCORDANCE WITH THE SCHOOL'S POLICY AS OUTLINED IN THE EMPLOYEE HANDBOOK AS SUCH, BOARD APPROVAL WAS NOT NEEDED. X 37 317093 FMV 0 1 0 PART I, COLUMN (B): THE AMOUNT REPORTED IN COLUMN B REPRESENTS THE NUMBER OF DONORS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY THE SCHOOL'S INDEPENDENT AUDIT FIRM WITH EXTENSIVE REVIEW FROM INTERNAL BUSINESS OFFICE STAFF AND SENIOR MANAGEMENT. ONCE EDITS ARE MADE, IT IS REVIEWED BY THE AUDIT AND RISK COMMITTEE OF THE BOARD, PER THE AUDIT COMMITTEE'S CHARTER. ALL TRUSTEES ARE PROVIDED COPIES FOR FINAL REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE ASSISTANT TO THE HEAD OF SCHOOL DISTRIBUTES THE CONFLICT OF INTEREST POLICY TO EACH TRUSTEE AND KEY EMPLOYEE DURING THE OCTOBER TRUSTEE MEETING. PRIOR TO THE END OF THE MEETING, THE SIGNED POLICIES ARE COLLECTED BY THE ASSISTANT TO THE HEAD AND SHE FOLLOWS UP DIRECTLY WITH ANY TRUSTEES OR KEY EMPLOYEES WHO WERE NOT IN ATTENDANCE TO ENSURE A SIGNED POLICY IS RECEIVED. ONCE ALL HAVE BEEN RECEIVED, THEY ARE REVIEWED BY THE ASSISTANT BUSINESS MANAGER AND ANY CONFLICTS ARE PRESENTED TO THE AUDIT AND RISK COMMITTEE CHAIR FOR FOLLOW UP. ONCE THE REVIEW IS COMPLETE, THE FORMS ARE FILED IN THE BUSINESS OFFICE. DURING COMMITTEE MEETINGS, TRUSTEES MUST ANNOUNCE IF A CONFLICT ARISES REGARDING THE SUBJECT BEING DISCUSSED. THEY CAN STATE THE CONFLICT AND CHOOSE TO RECUSE THEMSELVES FROM FURTHER CONVERSATION AND VOTING ON THE SUBJECT MATTER. FORM 990, PART VI, SECTION B, LINE 15 AN INDEPENDENT THREE PERSON COMMITTEE OF THE BOARD HAS BEEN FORMED TO ESTABLISH AND PROVIDE OVERSIGHT AROUND THE HEAD OF SCHOOL'S COMPENSATION AND BENEFITS. THIS COMMITTEE INCLUDES THE CHAIR OF THE BOARD AND TWO OTHER TRUSTEES, WHICH IN THIS REPORTING YEAR WERE THE TREASURER AND VICE CHAIR OF THE BOARD. THE COMMITTEE'S RECOMMENDATIONS REGARDING THE HEAD OF SCHOOL'S COMPENSATION AND BENEFITS ARE SUBJECT TO APPROVAL BY THE EXECUTIVE COMMITTEE AND/OR THE FULL BOARD. THE COMMITTEE UTILIZES COMPARATIVE COMPENSATION DATA REGARDING PEER SCHOOLS, INCLUDING DATA FROM THE FORTY MEMBERS OF THE ASSOCIATION OF BUSINESS OFFICERS OF PREPARATORY SCHOOLS (ABOPS), WITH A PARTICULAR EMPHASIS ON A SUBSET OF PEER SCHOOLS. THE PEER SCHOOL DATA INCLUDES BOTH GEOGRAPHIC PEERS AS WELL AS SIMILARLY SIZED AND ENDOWED SCHOOLS. THE COMMITTEE CONDUCTS A THOROUGH PERFORMANCE REVIEW ON AN ANNUAL BASIS WITH AN EMPHASIS ON THE ATTAINMENT OF PERFORMANCE GOALS AND OBJECTIVES ESTABLISHED ANNUALLY BY THE COMMITTEE. THE HEAD OF SCHOOL APPROVES ALL SALARY INCREASES FOR HER SENIOR STAFF. THESE INCREASES ARE BASED UPON REVIEW OF POSITION DATA FROM ABOPS. ONCE DETERMINED, A ONE OVER ONE REVIEW BY A MEMBER OF THE COMPENSATION COMMITTEE TAKES PLACE FOR FINAL APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 ALL OF THE SCHOOL'S GOVERNING DOCUMENTS, ITS CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE BUSINESS OFFICE OVERSEES THE DISTRIBUTION OF REQUESTED DOCUMENTS. FORM 990, PART XI, LINE 9: CHANGE IN VALUATION OF SPLIT-INTEREST AGREEMENTS -26,773. PROVISION FOR UNCOLLECTIBLE PLEDGES -68,612. FORM 990, PART XII, LINE 2C THERE HAVE BEEN NO CHANGES TO THE SCHOOL'S OVERSIGHT OR SELECTION PROCESSES DURING THE TAX YEAR. 78 GARDEN STREET LLC 60 MAIN STREET FARMINGTON CT 06032 FACULTY HOUSING CT 0 476410 MISS PORTER'S SCHOOL INC 2 MILL LANE LLC 60 MAIN STREET FARMINGTON CT 06032 FACULTY HOUSING CT 0 763052 MISS PORTER'S SCHOOL INC