2020-03-05T03:59:55-06:00 2019-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2018-07-01 560935064 CANNON SCHOOL INC CANN 7047868171 5801 POPLAR TENT ROAD CONCORD NC 28027 WHITNEY BROWN DIR. OF BUSINESS AND FINANCE 7047868171 2020-02-25 1 AMANDA ADAMS P00748038 7043771678 38.142.98.34 2020-02-25 12:28:53 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 18694F53AD11E15FFCEA276DE93F63B2E746D691 2018 2020-09-22 18:59:49Z WHITNEY BROWN 5801 POPLAR TENT ROAD CONCORD NC 28027 24437922 0 X WWW.CANNONSCHOOL.ORG X 1968 NC CANNON SCHOOL WAS FOUNDED IN 1968 AND IS A NON-PROFIT, INDEPENDENT SCHOOL THAT FOCUSES ON THE INDIVIDUAL STUDENT. THE SCHOOL OCCUPIES A 65-ACRE CAMPUS JUST OFF THE I-85 CORRIDOR IN CONCORD, NC. APPROXIMATELY 1,024 STUDENTS WERE ENROLLED AT THE SCHOOL DURING THE FISCAL YEAR 2018 IN GRADES JUNIOR KINDERGARTEN THROUGH 12TH GRADE. CANNON ENCOURAGES STUDENTS TO STRETCH TO THEIR FULLEST POTENTIAL AND BECOME ENGAGED STUDENTS AND OUTSTANDING CITIZENS. CANNON'S LOWER SCHOOL STRESSES ACADEMIC EXCELLENCE, WITH A BALANCE OF ENRICHMENT OPPORTUNITIES AND AN EMPHASIS ON CHARACTER DEVELOPMENT. CANNON'S MIDDLE SCHOOL PROVIDES A CLIMATE FOR EMERGING YOUNG ADULTS TO NURTURE THEIR LOVE OF LEARNING, STRENGTHEN THEIR SELF CONCEPT, AND EXPLORE EXTRACURRICULAR ACTIVITIES. CANNON'S UPPER SCHOOL DEDICATES ITSELF TO DEVELOPING TEACHING PRACTICES AND CURRICULUM THAT EQUIP STUDENTS TO LEARN HOW TO LEARN AND IS BASED ON A TRADITIONAL COLLEGE PREPARATORY CURRICULUM. 22 22 339 50 0 0 1102341 1354650 21325657 22392624 598376 483858 51740 62493 23078114 24293625 2857465 2982351 0 0 13346310 14470420 0 0 957392 5717924 6124780 21921699 23577551 1156415 716074 49074909 50778664 15430688 16300404 33644221 34478260 PROVISION OF QUALITY K-12 EDUCATIONAL PROGRAM WITHIN A SAFE, DIVERSE, AND CHALLENGING ENVIRONMENT. 0 0 19500497 2982351 22449149 INSTRUCTION - PRIMARY AND SECONDARY EDUCATION WHICH BENEFITS STUDENTS WITHOUT REGARD TO RACE, RELIGION, OR NATIONAL ORIGIN. THE SCHOOL SERVED APPROXIMATELY 1,024 STUDENTS DURING THE 2018-2019 SCHOOL YEAR.SPECIAL PROGRAMS, INCLUDING AFTER SCHOOL PROGRAMS AND SUMMER CAMP.AUXILIARY SERVICES, INCLUDING BUS TRANSPORTATION FOR STUDENTS AND A SCHOOL STORE. 19500497 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 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 52 0 1 339 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X ANDREA TREMBATH 7047868171 5801 POPLAR TENT ROAD CONCORD NC 28027 BLAKE EVANS BOARD CHAIR 1.00 X X 0 0 0 SCOTT WICKERHAM VICE CHAIR 1.00 X X 0 0 0 JEFF LECK TREASURER 1.00 X X 0 0 0 KYM SELDEN SECRETARY 1.00 X X 0 0 0 JOAN ANKROM TRUSTEE 1.00 X 0 0 0 BENTON BRAGG SR TRUSTEE 1.00 X 0 0 0 KATHY BRAY TRUSTEE 1.00 X 0 0 0 HORACE BRYAN TRUSTEE 1.00 X 0 0 0 DR BRET BUSBY TRUSTEE 1.00 X 0 0 0 KARIN CAIN TRUSTEE 1.00 X 0 0 0 ANDREW HUDSON TRUSTEE 1.00 X 0 0 0 KIMBERLY LEATHERMAN TRUSTEE 1.00 X 0 0 0 HARRY MCKAY TRUSTEE 1.00 X 0 0 0 GREY MILLS JR TRUSTEE 1.00 X 0 0 0 DR ADAM ORTIZ TRUSTEE 1.00 X 0 0 0 HANS PETERSON TRUSTEE 1.00 X 0 0 0 DR PORTER PETERSON TRUSTEE 1.00 X 0 0 0 DR JON TER POORTEN TRUSTEE 1.00 X 0 0 0 DR NEHAL THAKKAR TRUSTEE 1.00 X 0 0 0 LAURIN TITUS TRUSTEE 1.00 X 0 0 0 CINDI VANWINGERDEN TRUSTEE 1.00 X 0 0 0 JON WARD TRUSTEE 1.00 X 0 0 0 MATTHEW GOSSAGE HEAD OF SCHOOL 40.00 X 408632 0 29361 WHITNEY BROWN DIR. OF BUSINESS AND FINANCE 40.00 X 148463 0 61878 PATRICK MOYER DIRECTOR OF ATHLETICS 40.00 X 151323 0 16916 FREDERICK HARTUNG DIRECTOR OF ADVANCEMENT 40.00 X 128138 0 42481 DEBRA OTEY HEAD OF UPPER SCHOOL 40.00 X 125573 0 49843 962129 0 200479 12 0 1 0 MYERS & CHAPMAN 11001 WOODRIDGE CENTER DR STE 160 CHARLOTTE NC 28217 CONSTRUCTION 561757 MEDALLION ATHLETIC PRODUCTS 150 RIVER PARK ROAD MOORESVILLE NC 28117 TRACK RESURFACING 394400 LINEBERGER BUILDING GROUP PO BOX 11777 CHARLOTTE NC 28220 CONSTRUCTION 353530 KODIAK CONSTRUCTORS 10810 INDEPENDENCE POINTE PKWY STE MATTHEWS NC 28105 CONSTRUCTION 301045 THE BUDD GROUP 1000 AMBLE DRIVE CHARLOTTE NC 28206 JANITORIAL 274248 14 24579 1330071 86244 1354650 TUITION AND FEES 900099 21021851 21021851 OTHER AUXILIARY ACTIVITIES 900099 413108 413108 CAMP CANNON FEES 900099 371071 371071 TRANSPORTATION FEES 900099 369725 369725 BEYOND THE BELL FEES 900099 216869 216869 22392624 279308 279308 8075 0 8075 8075 8075 267300 46863 15887 220437 -15887 204550 204550 11567 24579 13674 -2107 -2107 124398 67873 56525 56525 24293625 22449149 0 489826 2982351 2982351 775458 775458 11043738 9654766 927380 461592 1012879 860568 111167 41144 814399 685990 95612 32797 823946 676313 115299 32334 53516 53516 48200 48200 58440 58440 63516 63516 180259 180259 318369 209688 99649 9032 229568 175717 46827 7024 937594 717659 191248 28687 19879 19133 746 285072 218202 58148 8722 1792938 1372361 365719 54858 152843 116990 31177 4676 CURRICULUM EXPENSES 620336 620336 BOOSTER ORGANIZATIONS 285929 285929 SUMMER CAMP 230725 230725 ATHLETIC EXPENSES 194832 194832 652764 478937 77560 96267 23577551 19500497 3119662 957392 7711262 8178512 982479 974212 1416931 1023476 562180 988412 73363 86229 430550 337032 44861587 17833831 26490616 27027756 11051320 11758367 356208 404668 49074909 50778664 2174342 1661408 6726194 7193421 4608820 4023275 1409562 2553807 511770 868493 15430688 16300404 X 27563853 31202808 4729142 1469076 1351226 1806376 33644221 34478260 49074909 50778664 X 716074 311914 -193949 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10091794 231800 634432 261016 10697010 8878727 665825 936188 388946 10091794 6732626 1220543 1024765 99207 8878727 6700940 280350 -137946 110718 6732626 5168332 1405209 174147 46748 6700940 0.77980 0.14270 0.07750 0 0 501819 501819 34127036 11239655 22887381 9813734 6594176 3219558 418998 418998 27027756 VALUATION OF DERIVATIVE INSTRUMENT 190737 457(B) PLAN LIABILITY 388432 LONG-TERM DEBT 141560 CAPITAL LEASE 147764 868493 X 21452346 311914 27634 339548 21112798 58440 3122387 3180827 24293625 20618307 81547 81547 20536760 58440 2982351 3040791 23577551 PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO FUND A VARIETY OF PROGRAMS THAT ARE ALIGNED WITH THE SCHOOL'S EXEMPT PURPOSE. THOSE FUNDS WITH DONOR IMPOSED RESTRICTIONS ARE EXPENDED ACCORDING TO THE DONOR RESTRICTIONS. THERE ARE SPENDING POLICIES BASED UPON INVESTMENT RETURNS. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAX AND APPLICABLE STATE STATUTES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"). ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES IN THE FINANCIAL STATEMENTS. MANAGEMENT HAS EVALUATED THE EFFECT OF GUIDANCE SURROUNDING UNCERTAIN TAX POSITIONS AND CONCLUDED THAT THE SCHOOL HAS NO SIGNIFICANT FINANCIAL STATEMENT EXPOSURE TO UNCERTAIN TAX POSITIONS AT JUNE 30, 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF SWAP -53,913. DIRECT FUNDRAISING EVENT EXPENSES 13,674. COST OF GOODS SOLD 67,873. PART XI, LINE 4B - OTHER ADJUSTMENTS: ADJUSTMENT TO PLEDGES RECEIVABLE VALUE 140,036. FINANCIAL AID AND SCHOLARSHIPS 2,982,351. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EVENT EXPENSES 13,674. COST OF GOODS SOLD 67,873. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIPS 2,982,351. 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 NORTH CAROLINA ASSOCIATION OF INDEPENDENT SCHOOLS (NCAIS) PUBLISHES A NON-DISCRIMINATION STATEMENT ON BEHALF OF ALL ITS MEMBER ORGANIZATIONS IN EACH SCHOOL'S REGIONAL/LOCAL CHAPTER AND CANNON SCHOOL IS A MEMBER OF THIS ORGANIZATION. GOLF TOURNAMENT 36146 24579 11567 894 8854 1250 250 2426 36146 24579 11567 894 8854 1250 250 2426 13674 -2107 1 FINANCIAL AID 203 1812658 BOOK TUITION REDUCTION TEACHER REMISSION 109 1169693 BOOK TUITION REDUCTION PART I, LINE 2: FINANCIAL AID AWARDS ARE ADMINISTERED BY THE SCHOOL AND ARE USED TO OFFSET CHARGES TO STUDENT ACCOUNTS. NO EXCHANGE OF REAL FUNDS EVER TAKES PLACE. THE AWARD IS SIMPLY A CREDIT TOWARDS THE TUITION BALANCE. X X 1 1 X X X X 0 0 0 0 0 0 0 1 0 MATTHEW GOSSAGE HEAD OF SCHOOL 385000 0 10000 0 13632 0 21900 0 7461 0 437993 0 0 0 WHITNEY BROWN DIR. OF BUSINESS AND FINANCE 148190 0 0 0 273 0 10546 0 51332 0 210341 0 0 0 PATRICK MOYER DIRECTOR OF ATHLETICS 151050 0 0 0 273 0 11338 0 5578 0 168239 0 0 0 FREDERICK HARTUNG DIRECTOR OF ADVANCEMENT 127865 0 0 0 273 0 9306 0 33175 0 170619 0 0 0 DEBRA OTEY HEAD OF UPPER SCHOOL 125300 0 0 0 273 0 8714 0 41129 0 175416 0 0 0 PART I, LINE 1A THE SCHOOL REIMBURSES THE HEAD FOR MEMBERSHIP DUES TO HIS COUNTRY CLUB, WHICH HE USES, IN PART, FOR BUSINESS PURPOSES. THE AMOUNT OF THE COUNTRY CLUB DUES RELATED TO HIS PERSONAL USE IS TREATED AS A TAXABLE BENEFIT. THE SCHOOL GROSSES UP THE VALUE OF CERTAIN TAXABLE FRINGE BENEFITS TO COVER THE TAX DUE ON SUCH BENEFITS. THE GROSS UP IS ALSO TREATED AS A TAXABLE BENEFIT. PART I, LINE 7 MATTHEW GOSSAGE, HEAD OF SCHOOL, RECEIVED A DISCRETIONARY BONUS AS SHOWN IN PART II. A NC CAPITAL FACILITIES FINANCE AGENCY 561592154 65818PBY4 2010-03-03 9035000 REFUNDING OF FACILITIES CONSTRUCTION BONDS 0 0 0 A 4985072 9035000 9035000 2010 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 1 0 1 0 0 0 0 A 0 X 23 86244 STOCK MEDIAN VALUE 0 1 1 PART I, LINE 32B: THE SCHOOL USES TD AMERITRADE'S ONLINE ACCOUNT TO RECEIVE STOCK DONATIONS AND SELL THE STOCK DIRECTLY AFTER. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS IS PROVIDED WITH A PUBLIC DISCLOSURE COPY OF THE FORM 990 TO REVIEW. A FULL COPY OF THE FORM 990 WILL BE MADE AVAILABLE TO THE BOARD PRIOR TO FILING, AND WILL BE KEPT AT THE SCHOOL BUSINESS OFFICE. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES ARE REQUIRED TO REVIEW AND SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY. THE HEAD OF SCHOOL'S ASSISTANT COLLECTS ALL SIGNED CONFLICT OF INTEREST POLICIES FROM TRUSTEES AND REVIEWS FOR ANY POTENTIAL ISSUES. THESE ARE COLLECTED FROM ALL NEW TRUSTEES AS THEY CHANGE DURING THE YEAR. DURING THE COURSE OF THE YEAR, ANY TRUSTEE WITH A POTENTIAL CONFLICT RECUSES HIMSELF/HERSELF FROM DISCUSSIONS AND/OR VOTES. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL HAS A COMPENSATION COMMITTEE (COMPOSED OF INDEPENDENT TRUSTEES) FOR ITS HEAD OF SCHOOL THAT UNDERTOOK INITIAL STUDIES OF COMPARABILITY SOURCE DATA FROM NAIS AND CARNEY SANDOE TO DETERMINE THE HEAD'S OVERALL COMPENSATION. THE COMPENSATION DETERMINATION PROCESS IS DOCUMENTED IN THE MEETING MINUTES. ADDITIONALLY, THE COMPENSATION IS RE-EXAMINED ON A PERIODIC BASIS TO ENSURE REASONABLENESS. THE SCHOOL HAS A FULL-TIME HUMAN RESOURCE DIRECTOR THAT ASSISTS IN PULLING TOGETHER COMPENSATION MARKET DATA FOR ALL OTHER POSITIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF SWAP -53,913. ADJUSTMENT TO PLEDGES RECEIVABLE VALUE -140,036.