2021-04-13T17:55:13-05:00 2020-06-30 135381590 BDO USA LLP 4999 PEARL EAST CIRCLE BOULDER CO 80301 990 2019-07-01 840423922 FOUNTAIN VALLEY SCHOOL OF COLORADO FOUN 7193915231 6155 FOUNTAIN VALLEY SCHOOL ROAD COLORADO SPRINGS CO 80911 WILLIAM WEBB HEAD OF SCHOOL 7193915231 2021-04-12 1 CHRISTINE LUDWIG CPA P01230006 3034400399 2019 2022-09-23 18:48:47Z WILLIAM WEBB 6155 FOUNTAIN VALLEY SCHOOL ROAD COLORADO SPRINGS CO 80911 55233575 0 X WWW.FVS.EDU X 1930 CO THE SCHOOL IS A UNIQUE, GLOBAL BOARDING SCHOOL WITH A RIGOROUS COLLEGE PREPARATORY CURRICULUM. 25 25 197 25 -12902 -35201 7306918 2363526 12656044 12257375 1716639 1522546 -299259 -179839 21380342 15963608 2569722 3258772 0 0 6673350 7566821 0 0 882735 10226831 6670671 19469903 17496264 1910439 -1532656 83496412 80361660 9211799 8589162 74284613 71772498 X FOUNTAIN VALLEY SCHOOL OF COLORADO PROVIDES A RIGOROUS, GLOBAL CURRICULUM TO ACADEMICS, ARTS, ATHLETICS AND THE OUTDOORS IN A DIVERSE COMMUNITY TO DEVELOP YOUNG ADULTS WHO ARE COURAGEOUS, OPEN-MINDED, SELF-RELIANT, CURIOUS AND COMPASSIONATE. THE SCHOOL IS LOCATED ON 1,100 ACRES OF ROLLING PRAIRIE IN SOUTHEAST COLORADO SPRINGS WITH PIKES PEAK AS A BACKDROP. A 40-ACRE MOUNTAIN CAMPUS IS LOCATED TWO HOURS AWAY NEAR BUENA VISTA, CO. 0 0 10460295 3258772 12262212 SEE SCHEDULE OTHE FOUNTAIN VALLEY SCHOOL PROVIDES INSTRUCTION TO STUDENTS;SERVICES TO STUDENTS SUCH AS HOUSING, ATHLETICS, INFIRMARY TO INCLUDE COUNSELING, FOOD SERVICES, AND SCHOLARSHIPS.EDUCATION:ALONG WITH A RIGOROUS ACADEMIC CURRICULUM THAT INCLUDES 18 ADVANCED PLACEMENT COURSES AND HONOR CLASSES IN EVERY DISCIPLINE, FOUNTAIN VALLEY'S SIGNATURE PROGRAMS ARE: THE GLOBAL SCHOLAR DIPLOMA INCLUDING THE SCHOOL'S MEMBERSHIP IN ROUND SQUARE; EXPERIENTIAL LEARNING SUCH AS THE WESTERN IMMERSION PROGRAM AND INTERIM TRAVEL ADVENTURES; THE EQUESTRIAN PROGRAM WITH BOTH ENGLISH AND WESTERN COMPETITIVE RIDERS; AND SPORTS THAT TAKE ADVANTAGE OF ROCKY MOUNTAIN SETTING TO INCLUDE MOUNTAIN BIKING, CLIMBING AND OUTDOOR EDUCATION.HOUSING AND MEALS:FOUNTAIN VALLEY SCHOOL SETS A NATIONAL STANDARD IN RESIDENTIAL LIFE FOR ITS BOARDING STUDENTS AND FACULTY. STUNNING ADOBE RESIDENCES HOUSE SMALL GROUPS OF 16-20 STUDENTS AND FACULTY FAMILIES. WITH COMMUNAL KITCHENS, COMMON ROOMS, FIREPLACES AND PATIOS, RESIDENCE HALLS QUICKLY BECOME A WELCOMING HOME AWAY FROM HOME. THE FVS COMMUNITY GATHERS IN THE DINING HALL FOR THREE MEALS A DAY WITH MYRIAD OPTIONS INCLUDING VEGETARIAN AND GLUTEN FREE.SCHOLARSHIPS:FIFTY THREE PERCENT OF STUDENTS RECEIVE FINANCIAL AID. IN THE 2019-2020SCHOOL YEAR, $3,258,772 IN BOTH MERIT- AND NEED-BASED SCHOLARSHIPS WASAWARDED. 10460295 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 51 0 1 197 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JANET REFIOR 7193915231 6155 FOUNTAIN VALLEY SCHOOL ROAD COLORADO SPRINGS CO 80911 GREGORY L THATCHER PRESIDENT 1.00 X X 0 0 0 BARRY S BROWN VICE PRESIDENT 1.00 X X 0 0 0 LINK NICOLL SECRETARY 1.00 X X 0 0 0 JOLENE LANE TRUSTEE 1.00 X 0 0 0 JERRY FRAUTSCHI LIFETIME TRUSTEE 1.00 X 0 0 0 BOB HENDERSON LIFETIME TRUSTEE 1.00 X 0 0 0 JIM SCOTT LIFETIME TRUSTEE 1.00 X 0 0 0 BENJAMIN HOWE TRUSTEE (EX-OFFICIO) 1.00 X 0 0 0 EDWARD C EPPLER TRUSTEE 1.00 X 0 0 0 SARAH CANNADY TRUSTEE 1.00 X 0 0 0 JANET DULIN TRUSTEE 1.00 X 0 0 0 KELLY EUSTACE TRUSTEE 1.00 X 0 0 0 EMILIE HOYT TRUSTEE 1.00 X 0 0 0 WALTER HARRISON TRUSTEE 1.00 X 0 0 0 JUNIPER HUNTER TRUSTEE 1.00 X 0 0 0 HOPE KAPSNER TRUSTEE 1.00 X 0 0 0 DAWN JUDD TRUSTEE 1.00 X 0 0 0 DR KEVIN RASK TRUSTEE 1.00 X 0 0 0 CHRISTOPHER SANCHEZ TRUSTEE 1.00 X 0 0 0 MELINDA TWOMEY TRUSTEE 1.00 X 0 0 0 THERESA SHEH TRUSTEE 1.00 X 0 0 0 CORI J GALLES TRUSTEE 1.00 X 0 0 0 KUNXIAO WANG TRUSTEE 1.00 X 0 0 0 MARK HATCH TRUSTEE 1.00 X 0 0 0 DEMPSEY SIMONIS TRUSTEE 1.00 X 0 0 0 DAVIS TUTT TRUSTEE 1.00 X 0 0 0 MARY CLARE MATTHEWS TRUSTEE 1.00 X 0 0 0 GREGORY OSBORNE TRUSTEE 1.00 X 0 0 0 DOUGLAS PATTERSON TRUSTEE 1.00 X 0 0 0 JANET REFIOR COFO 40.00 X 153363 0 20469 WILLIAM WEBB HEAD OF SCHOOL (NON-VOTING) 40.00 X 245250 0 37584 JESSE FORTNEY DIRECTOR OF ADVANCEMENT 40.00 X 105246 0 8209 503859 0 66262 3 0 1 0 FLIK PO BOX 417632 BOSTON MA 022417632 DINING HALL SERVICES 1169503 1 2363526 264539 2363526 TUITION AND FEES 611110 11988107 11988107 ATHLETICS 611110 139901 139901 RIDING PROGRAM 611110 65737 65737 HEALTH CENTER 611110 16570 16570 ADMINISTRATION FEES 611110 11990 11990 35070 35070 12257375 1043254 -12902 1056156 197890 382566 -184676 -184676 -184676 39350229 38758437 112500 591792 -112500 479292 479292 21301 16464 4837 4837 15963608 12262212 -12902 1350772 3258772 3258772 454313 454313 5426174 2811652 2117719 496803 361723 195499 140481 25743 1324611 706045 525596 92970 219146 219146 247714 3968 238806 4940 156842 156842 331339 256231 75108 1054867 21044 1033823 213135 11395 110909 90831 106442 55130 51312 1986223 1765616 220607 403808 403808 FOOD EXPENSE 1038030 1038030 SCHOOL EXPENSES 477734 270804 200864 6066 MEMBERSHIPS 117777 39636 77465 676 317614 26473 283277 7864 17496264 10460295 6153234 882735 2377427 1455625 16014 1147349 1937351 1726673 172405 210750 157259 137635 71795377 33674353 38523191 38121024 33494493 30536321 4628457 4919331 2189815 2106952 83496412 80361660 821758 398994 3230000 2651273 3057188 3843756 2102853 1695139 9211799 8589162 X 46302222 47124008 27982391 24648490 74284613 71772498 83496412 80361660 -1532656 -979459 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 54436520 130832 688433 1146416 54109369 51062549 3798947 2025496 2450472 54436520 48696482 288602 3306924 1229459 51062549 45423589 137569 4501372 1366048 48696482 45787008 587079 75954 1026452 45423589 0.53280 0.37280 0.09440 1 0 69050 69050 59386781 27168834 32217947 6671036 2544583 4126453 5309253 3960936 1348317 359257 359257 38121024 PRIVATELY HELD COMMON STOCK 3731923 F LIMITED PARTNERSHIPS 1187408 F 4919331 ANNUITIES PAYABLE 56448 LINE OF CREDIT 1638691 1695139 X 12017761 -979459 511530 -467929 12485690 219146 3258772 3477918 15963608 14529876 511530 511530 14018346 219146 3258772 3477918 17496264 PART V, LINE 4: THE FOUNTAIN VALLEY SCHOOL'S ENDOWMENT FUNDS ARE RESTRICTED PERMANENTLY OR TEMPORARILY BY DONOR INTENT AS TO PURPOSE OR TIME LIMITATION, AND ARE ACCOUNTED FOR AS SUCH IN THE BOOKS OF ACCOUNTS OF THE SCHOOL. THE DEVELOPMENT DIRECTOR OF THE SCHOOL IS PRIMARILY RESPONSIBLE FOR THIS DETERMINATION AFTER CONSULTATION WITH THE DONOR AS DOCUMENTED BY THE GIFT DECREE. THIS IS IN TURN PROVIDED TO THE BUSINESS OFFICE OF THE SCHOOL WHERE THE CFO CONFIRMS INTENT AND ACCOUNTS FOR THE GIFT ACCORDING TO GAAP. ENDOWMENT FUNDS OF THE SCHOOL ARE GENERALLY ORGANIZED TO PROVIDE FOR PROGRAM NEEDS, FACULTY DEVELOPMENT, AND FINANCIAL AID. THE BOARD OF TRUSTEES MAY INTERNALLY RESTRICT DONOR UNRESTRICTED GIFTS AS QUASI-ENDOWMENT IN THE BEST INTERESTS OF THE SCHOOL AS DETERMINED BY THE STRATEGIC PLAN AS ADVISED BY THE FINANCE AND DEVELOPMENT COMMITTEES OF THE SCHOOL. THE BOARD AUTHORIZED SPENDING POLICY IS AN ANNUAL DRAW FROM THE ENDOWMENT LIMITED TO 5.5% OF THE VALUATION OF TOTAL ENDOWMENT FUNDS BASED ON A TRAILING TWENTY QUARTER AVERAGE. FOR THE YEARS ENDED JUNE 30, 2020 AND 2019, THE DRAW WAS 5.2% AND 5.3%, RESPECTIVELY. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM INCOME TAX AS DETERMINED BY THE INTERNAL REVENUE SERVICE UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND A SIMILAR PROVISION OF STATE LAW. HOWEVER, THE SCHOOL IS SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME. AS OF JUNE 30, 2020 AND 2019, THE SCHOOL BELIEVES THAT IT DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED AGAINST REVENUE 16,464. RENTAL EXPENSES NETTED AGAINST REVENUE 382,566. LOSS ON SALE OF LAND 112,500. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 3,258,772. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED AGAINST REVENUE 16,464. RENTAL EXPENSES NETTED AGAINST REVENUE 382,566. LOSS ON SALE OF LAND 112,500. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 3,258,772. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 SCHOLARSHIPS 94 3258772 BOOK VALUE TUITION REDUCTION PART I, LINE 2: THE SCHOLARSHIPS ARE DIRECT REDUCTIONS IN TUITION. NO CASH IS PAID TO STUDENTS. THEY ARE SELECTED BY BLIND FINANCIAL NEED. WE GO THROUGH A 3RD PARTY VENDOR WHO HAS A SET OF CRITERIA FOR SELECTION THEN FOUNTAIN VALLEY MAKES THE FINAL DECISION FROM THAT LIST. WE KEEP THE APPLICATION AND TAX RETURNS WHILE THE STUDENT IS ENROLLED HERE. THE 3RD PARTY VENDOR ALSO KEEPS A COPY OF THE RECORDS. WE ALSO RECORD THEIR AWARDED FINANCIAL AID IN OUR ERP SYSTEM AS WELL AS SEVERAL EXCEL SPREADSHEETS. X X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 JANET REFIOR COFO 153363 0 0 0 0 0 12600 0 7869 0 173832 0 0 0 WILLIAM WEBB HEAD OF SCHOOL (NON-VOTING) 245250 0 0 0 0 0 12928 0 24656 0 282834 0 0 0 X 9 254439 MARKET VALUE X HORSES 2 10000 MARKET VALUE 0 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY A THIRD PARTY PREPARER WITH A DETAIL REVIEW BEING COMPLETED BY THE COFO OR OTHER SELECTED ADMINISTRATORS OF THE ORGANIZATION. A SECONDARY REVIEW IS PERFORMED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. AFTER THE AUDIT COMMITTEE APPROVES THE FORM 990 A COPY IS DISTRIBUTED TO THE FULL BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST POLICY STATEMENT IS REVIEWED ANNUALLY BY THE BOARD OF TRUSTEES AT THE FIRST MEETING OF THE FISCAL YEAR. A DISCUSSION OF THE CONFLICT OF INTEREST POLICY IS FOLLOWED BY A QUESTION AND ANSWER TIME. ALL TRUSTEES ARE REQUIRED TO SIGN AND SUBMIT THE STATEMENT ANNUALLY. QUESTIONS ABOUT POTENTIAL CONFLICTS OF INTEREST ARE SUBMITTED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW AND DECISION, AND MAY BE BROUGHT BEFORE THE ENTIRE BOARD FOR DISCUSSION AS DEEMED NECESSARY BY THE EXECUTIVE COMMITTEE. CONCERNS ABOUT POTENTIAL CONFLICTS, RAISED BY ORGANIZATION STAFF, ARE DIRECTED THROUGH THE HEAD OF SCHOOL TO THE BOARD OF TRUSTEES. CONCERNS REGARDING A CONFLICT OF INTEREST REQUIRE A BOARD MEMBER TO RECUSE THEMSELVES FROM VOTING ON THE ISSUE IN CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES DIRECTLY HIRES THE HEAD OF SCHOOL AND DETERMINES HIS COMPENSATION PACKAGE. MEMBERS OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES ARE RESPONSIBLE FOR NEGOTIATING COMPENSATION OF THE HEAD OF SCHOOL OR MAY DELEGATE SOME ASPECTS TO THE HEAD OF SCHOOL SEARCH COMMITTEE. HEAD OF SCHOOL COMPENSATION IS DETERMINED BASED ON QUALIFICATIONS AND EXPERIENCE AS MEASURED AGAINST THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL NORMS AND CONSULTATION WITH CONSULTANTS FAMILIAR WITH INDEPENDENT SCHOOLS. A WRITTEN CONTRACT (HEAD OF SCHOOL'S CONTRACT) OF DUTIES AND RESPONSIBILITIES ALONG WITH SALARY AND BENEFITS IS PROVIDED EACH YEAR AFTER THE ANNUAL PERFORMANCE REVIEW. THE COFO IS HIRED BY THE HEAD OF SCHOOL UNDER THE ADVICE AND CONSENT OF THE BOARD OF TRUSTEES. THE COFO RECEIVES A WRITTEN CONTRACT WHICH DELINEATES DUTIES AND RESPONSIBILITIES ALONG WITH SALARY AND RELATED BENEFITS. BENEFITS RECEIVED ARE THE SAME PACKAGE AS PROVIDED TO OTHER EMPLOYEES OF THE SCHOOL. COMPENSATION IS DETERMINED BASED ON QUALIFICATIONS AND EXPERIENCE AS MEASURED AGAINST THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL NORMS AND CONSULATION WITH THE CONSULTANTS FAMILIAR WITH INDEPENDENT SCHOOLS. THE LAST REVIEW OF KEY EMPLOYEE COMPENSATION OCCURRED IN THE FALL OF 2020. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC ON REQUEST. FORM 990 PART XII LINE 2C THE ORGANIZATION DID NOT CHANGE ITS AUDIT OVERSIGHT OR SELECTION PROCESSES DURING THE YEAR.