2020-05-13T15:33:49-05:00 2019-06-30 381357951 PLANTE & MORAN PLLC 10 S RIVERSIDE PLAZA 9TH FLOOR CHICAGO IL 60606 990 2018-07-01 362216167 LAKE FOREST ACADEMY LAKE 8476153213 1500 WEST KENNEDY ROAD LAKE FOREST IL 60045 MICHAEL J REIDY CHIEF FINANCIAL OFFICER 8476153213 2020-05-04 1 KIMBERLY A HAUMANN P00546491 3122071040 2020-05-04 70.190.130.52 2020-05-04 11:59:00 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 F18F835EE371A329476A90C9A25407CADD21E201 2018 2021-01-29 14:40:06Z JOSE M DEJESUS 1500 WEST KENNEDY ROAD LAKE FOREST IL 60045 40584255 0 X WWW.LFANET.ORG X 1857 IL EDUCATIONAL PROGRAM - INDEPENDENT COLLEGE PREPARATORY SCHOOL. 40 39 222 274 1830946 0 4873599 5503728 23880685 24490037 2200332 1632310 1679674 1898097 32634290 33524172 5158946 5268900 0 0 11055741 11855890 18400 20343 1943558 13607914 15028525 29841001 32173658 2793289 1350514 102585333 104505218 39601274 39997831 62984059 64507387 X LAKE FOREST ACADEMY STRIVES TO EMBODY IN ITS PRACTICES AND TO CULTIVATE IN ITS STUDENTS EXCELLENCE OF CHARACTER, SCHOLARSHIP, CITIZENSHIP, AND RESPONSIBILITY. 0 0 22625366 5268900 24567520 LFA WAS ESTABLISHED IN 1857 AS THE BOYS' PREPARATORY DEPARTMENT OF LIND UNIVERSITY. THE GIRLS' PREPARATORY DEPARTMENT, FERRY HALL, WAS ADDED IN 1869. IN 1925, LFA AND FERRY HALL LEGALLY SEPARATED FROM THE UNIVERSITY TO BECOME SECONDARY EDUCATIONAL INSTITUTIONS. IN 1974, THE TWO SCHOOLS MERGED INTO A CO-EDUCATIONAL INDEPENDENT SCHOOL. TODAY'S LFA IS HOME TO 434 STUDENTS FROM 16 STATES AND 33 COUNTRIES WHERE 49% ARE BOARDERS. LFA OPERATES AS A BOARDING SCHOOL WITH 69% OF THE FACULTY RESIDING ON CAMPUS. LFA'S 150-ACRE CAMPUS IS ON THE FORMER ESTATE OF J. OGDEN ARMOUR AND NOW CONSISTS OF A COMPLEMENTARY MIX OF HISTORICAL AND MODERN BUILDINGS.LFA'S 2019 STRATEGIC PLAN, MIDWESTERN HEART. GLOBAL MIND., FOCUSES ON DEVELOPING GLOBAL CITIZENS THROUGH UNIQUE EDUCATIONAL EXPERIENCES WITHIN A DIVERSE AND CARING COMMUNITY. THE ADMINISTRATION AND FACULTY ARE FOCUSED ON WORKING WITHIN THE FOUR MAIN INITIATIVES - EDUCATIONAL EXPERIENCE, MULTICULTURALISM, MARKETING, AND FINANCIAL STRENGTH.FOR OVER 161 YEARS, THE ACADEMY HAS STAYED TRUE TO ITS CORE VALUES OF EDUCATING THE INNOVATIVE MINDS OF THE NEXT GENERATION. THE INSTITUTION AND ITS PEOPLE ARE POISED TO ACHIEVE HIGHER LEVELS OF SUCCESS AND LOOK ENTHUSIASTICALLY TOWARD A NEW CHAPTER IN LFA'S HISTORY. 22625366 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 1 1 0 0 0 0 0 0 0 0 1 43 0 1 222 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 40 39 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X MICHAEL J REIDY 8476153213 1500 WEST KENNEDY ROAD LAKE FOREST IL 60045 MAKOLA M ABDULLAH VICE CHAIR/TRUSTEE 1.00 X X 0 0 0 CHARLES T COOPER TREASURER/TRUSTEE 1.00 X X 0 0 0 JOHN S MARLATT CHAIR/TRUSTEE 1.00 X X 0 0 0 RICHARD L ZHAO SECRETARY/TRUSTEE 1.00 X X 0 0 0 TODD E ALTOUNIAN TRUSTEE 1.00 X 0 0 0 BRUCE W ANDERSON TRUSTEE 1.00 X 0 0 0 SYLVIA BARROS TRUSTEE 1.00 X 0 0 0 MOLLY PEARSON CAMPBELL TRUSTEE 1.00 X 0 0 0 PATRICK J CARROLL II TRUSTEE 1.00 X 0 0 0 J PATRICK CORSIGLIA TRUSTEE 1.00 X 0 0 0 JIM C COWART TRUSTEE 1.00 X 0 0 0 ANN DANNER TRUSTEE 1.00 X 0 0 0 JESSICA P DOUGLAS TRUSTEE 1.00 X 0 0 0 CHRISTOPHER E FREEBURG TRUSTEE 1.00 X 0 0 0 GREGORY P GLASS TRUSTEE 1.00 X 0 0 0 HAJI L GLOVER TRUSTEE 1.00 X 0 0 0 WILLIAM J HAYES TRUSTEE 1.00 X 0 0 0 MICHELE MARSH IHLANFELDT TRUSTEE 1.00 X 0 0 0 DUANE C JACKSON TRUSTEE 1.00 X 0 0 0 NED JESSEN TRUSTEE 1.00 X 0 0 0 GREGORY K JONES TRUSTEE 1.00 X 0 0 0 SCOTT W KAESER TRUSTEE 1.00 X 0 0 0 THOMAS B KELLEY TRUSTEE 1.00 X 0 0 0 ERIK S KIMBLE TRUSTEE 1.00 X 0 0 0 RUMI KULI TRUSTEE 1.00 X 0 0 0 BEN MALEK TRUSTEE 1.00 X 0 0 0 WILLIAM F MARKEY TRUSTEE 1.00 X 0 0 0 PATRICK M MCCARTHY TRUSTEE 1.00 X 0 0 0 SCOTT MELOUN TRUSTEE 1.00 X 0 0 0 BETHANN MORITZ TRUSTEE 1.00 X 0 0 0 O KEITH OWEN III TRUSTEE 1.00 X 0 0 0 KATHERINE GRAY POLLOCK TRUSTEE 1.00 X 0 0 0 TATYANA I PRAMATAROVA TRUSTEE 1.00 X 0 0 0 JUDITH REID-ANDERSON TRUSTEE 1.00 X 0 0 0 EMILY SAMMON TRUSTEE 1.00 X 0 0 0 RAMONA SEQUEIRA TRUSTEE 1.00 X 0 0 0 J MICHAEL SCHELL TRUSTEE 1.00 X 0 0 0 AMISH S SHAH TRUSTEE 1.00 X 0 0 0 MARIANNE SILVER TRUSTEE 1.00 X 0 0 0 MARK S STEVENS TRUSTEE 1.00 X 0 0 0 JOHN STRUDWICK HEAD OF SCHOOL 60.00 X 461894 0 67598 MICHAEL REIDY CHIEF FINANCIAL OFFICER 40.00 X 191944 0 33626 ROBERT J BUCKLA VICE PRESIDENT FOR ADVANCE 40.00 X 191163 0 34648 WILLIAM B DOLBEE ASSOCIATE HEAD OF SCHOOL, 40.00 X 121650 0 30208 PATRICK FINNESSY ENGLISH DEPARTMENT CHAIR 40.00 X 125272 0 28430 GARRY SLOAN DIRECTOR OF PHILANTHROPY 40.00 X 122383 0 32132 CHRISTOPHER O TENNYSON ASST HOS, STUD & ACAD DEAN 40.00 X 125364 0 28445 DARRIN MADELEY ATHLETIC DIRECTOR 40.00 X 128465 0 23558 1468135 0 278645 15 0 1 0 SODEXO PO BOX 360170 PITTSBURGH PA 152516170 FACILITY, CAFETERIA AND CATERING MANAGEM 3371146 FIELD TURF USA INC 7445 COTE-DE-LIESSE RD MONTREAL CA H4T 1G2 TURF FIELD CONSTRUCTION 617920 DK CONTRACTORS 11013-122ND ST PLEASANT PRAIRIE WI 53158 TURF FIELD CONSTRUCTION 606821 FIRST POINT MECHANICAL SERVICES LLC 1625 WINNETKA CIRCLE ROLLING MEADOWS IL 60008 HVAC SERVICES 230577 MERIDIAN IT INC PO BOX 33950 CHICAGO IL 606943950 INFORMATION TECHNOLOGY SERVICES 180914 6 725691 4778037 612609 5503728 TUITION 611600 23337420 23337420 FACILITY RENTAL 531390 998332 998332 ACADEMIC FEES & SALES 611600 117220 117220 STUDENT FEES 611600 37065 37065 24490037 751749 751749 32842 0 32842 32842 32842 7663152 36160 6797860 20891 865292 15269 880561 880561 8550 725691 51724 -43174 -43174 235751 189608 46143 46143 CATERED EVENTS 722320 1830946 1830946 MISCELLANEOUS 900099 31340 31340 1862286 33524172 24567520 1830946 1621978 5268900 5268900 761683 761683 8204047 5259038 1914202 1030807 893455 553128 231599 108728 1371563 849120 355533 166910 625142 387019 162047 76076 78839 78839 51966 51966 20343 20343 99322 99322 234349 2400 231379 570 41513 41143 370 786937 553418 107931 125588 745580 643915 89856 11809 808532 613127 187541 7864 3069043 2650560 369874 48609 244651 211291 29485 3875 CATERING AND CAFETERIA 2837839 1419701 1251668 166470 FACILITIES CONTRACT 2465787 2129562 297171 39054 SERVICES 1294147 971574 267276 55297 FACULTY AND PROGRAM DEV 462923 389244 69168 4511 1807097 723369 1007051 76677 32173658 22625366 7604734 1943558 4985390 3810975 2470915 3610275 5716178 6476454 3631096 3549680 133738 124479 387764 348376 84186328 36273364 49559623 47912964 18293304 18787293 16473664 19422392 933661 462330 102585333 104505218 1046516 1322999 17865520 18328846 16256247 16237908 3874690 2906018 558301 1202060 39601274 39997831 X 44538817 43682075 6445031 5101140 12000211 15724172 62984059 64507387 102585333 104505218 1350514 172814 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 37237883 2783330 2218124 378080 41861257 33322743 2240095 2325045 650000 37237883 30186259 486080 3150404 500000 33322743 30167672 2197196 -212019 1966590 30186259 29271615 588790 465450 158183 30167672 0.67820 0.28200 0.03980 1 0 79267 79267 52198042 15959069 36238973 17242002 11133330 6108672 8674570 5610248 3064322 5992447 3570717 2421730 47912964 BANK COMMON TRUST FUNDS 12056104 F PRIVATE EQUITY LIMITED PARTNERSHIPS 7366288 F 19422392 CAPITAL LEASE OBLIGATION 94866 SWAP 1107194 1202060 28565827 172814 241332 414146 28151681 99322 5273169 5372491 33524172 27042499 241332 241332 26801167 99322 5273169 5372491 32173658 PART V, LINE 4: THE ENDOWMENT FUND IS INVESTED TO PROVIDE A PREDICTABLE STREAM OF INCOME TO SUPPORT THE SCHOOL'S PROGRAMS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED AGAINST REVENUE 51,724. COGS 189,608. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 5,268,900. WITHHOLDING TAX 4,269. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED AGAINST REVENUE 51,724. COGS 189,608. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 5,268,900. WITHHOLDING TAX 4,269. 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 COMMUNICATES ITS NON-DISCRIMINATION POLICY ON ITS WEBSITE, IN ALL ADMISSION MATERIALS, CATALOGS, AND VIEWBOOKS, AND IN ALL JOB POSTINGS AND FACULTY RECRUITMENT MATERIALS. NORTH AMERICA 0 0 PROGRAM SERVICES ATHLETICS 19704 NORTH AMERICA 0 0 PROGRAM SERVICES STUDENT RECRUITMENT 417 NORTH AMERICA 0 0 PROGRAM SERVICES CONFERENCE 476 CENTRAL AMERICA 0 0 PROGRAM SERVICES EDUCATIONAL TRIP 754 EAST ASIA/ PACIFIC 0 0 PROGRAM SERVICES STUDENT RECRUITMENT 4378 EAST ASIA/ PACIFIC 0 0 PROGRAM SERVICES FUNDRAISING & STUDENT RECRUITMENT 22905 EAST ASIA/ PACIFIC 0 0 PROGRAM SERVICES EDUCATIONAL TRIP 14885 EUROPE 0 0 PROGRAM SERVICES HEAD OF SCHOOL SEARCH 8577 EUROPE 0 0 PROGRAM SERVICES EDUCATIONAL TRIP 1113 EUROPE 0 0 PROGRAM SERVICES FUNDRAISING & STUDENT RECRUITMENT 11710 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES FUNDRAISING & STUDENT RECRUITMENT 5455 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES EDUCATIONAL TRIP 5313 0 0 0 0 0 0 72096 23591 95687 0 0 0 0 0 0 X X X X X X 1 RUFFALO NOEL LEVITZ 1025 KIRKWOOD PKWY SW CEDAR RAPIDS IA 52404 PHONE CALL SOLICITATION 0 9645 0 20063 9645 20063 AZ CA CO FL GA IA ID IL IN MA MI MT NE NY OH SD TX VA VT WA WI WY GALA AUCTION 734241 725691 8550 51724 734241 725691 8550 51724 51724 -43174 1 FINANCIAL AID 124 7814 4531212 FMV FREE OR DISCOUNTED TUITION & A STIPEND FOR BOOKS & EDUCATIONAL SUPPLIES MERIT AID 26 0 211650 FMV DISCOUNTED TUITION TUITION REMISSION 11 0 488400 FMV FREE TUITION PROVIDED TO CHILDREN OF FACULTY & STAFF PART I, LINE 2: GRANTS TO STUDENTS ARE BASED ON FINANCIAL NEED WHICH IS DETERMINED BY THE SCHOOL SCHOLARSHIP SERVICE. SCHOLARSHIPS TO STUDENTS ARE BASED ON MERIT ONLY (ACADEMIC EXCELLENCE AND EXTRACURRICULAR INVOLVEMENT). CHILDREN OF FACULTY AND STAFF ARE AUTOMATICALLY ELIGIBLE FOR FULL SCHOLARSHIP, BUT MUST MEET ADMISSIONS REQUIREMENTS TO QUALIFY. X X X 1 1 X X X X 0 1 0 0 0 0 0 1 0 JOHN STRUDWICK HEAD OF SCHOOL 335248 0 125000 0 1646 0 48898 0 18700 0 529492 0 0 0 MICHAEL REIDY CHIEF FINANCIAL OFFICER 191944 0 0 0 0 0 19581 0 14045 0 225570 0 0 0 ROBERT J BUCKLA VICE PRESIDENT FOR ADVANCE 191163 0 0 0 0 0 19263 0 15385 0 225811 0 0 0 WILLIAM B DOLBEE ASSOCIATE HEAD OF SCHOOL, 121650 0 0 0 0 0 14598 0 15610 0 151858 0 0 0 PATRICK FINNESSY ENGLISH DEPARTMENT CHAIR 125272 0 0 0 0 0 13316 0 15114 0 153702 0 0 0 GARRY SLOAN DIRECTOR OF PHILANTHROPY 122383 0 0 0 0 0 13316 0 18816 0 154515 0 0 0 CHRISTOPHER O TENNYSON ASST HOS, STUD & ACAD DEAN 125364 0 0 0 0 0 15216 0 13229 0 153809 0 0 0 DARRIN MADELEY ATHLETIC DIRECTOR 86175 0 42290 0 0 0 10341 0 13217 0 152023 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE HEAD OF SCHOOL - PER EMPLOYMENT CONTRACT - RESIDENCE IS ON PREMISES. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES HEAD OF SCHOOL REIMBURSABLE BUSINESS EXPENSE PER HEAD OF SCHOOL EMPLOYMENT CONTRACT PERSONAL SERVICES HEAD OF SCHOOL - IN RECOGNITION OF BUSINESS USE OF PERSONAL RESIDENCE OF HEAD OF SCHOOL AND AUTHORIZED BY COMPENSATION COMMITTEE ALL THE ABOVE BENEFITS, EXCEPT HOUSING, WERE CONSIDERED TAXABLE COMPENSATION AND WERE INCLUDED IN WAGES. PART I, LINE 4B HEAD OF SCHOOL, 457F EMPLOYER CONTRIBUTIONS - THE HEAD OF SCHOOL IS COVERED BY A NONQUALIFIED DEFERRED COMPENSATION PLAN. UNDER THE PLAN, PARTICIPANTS UNVESTED ACCOUNT BALANCES ARE CREDITED AT THE DISCRETION OF THE ORGANIZATION. PARTICIPANT BALANCES VEST PERIODICALLY OVER A TERM OF SEVERAL YEARS OR UPON THE DEATH OR DISABILITY OF A PARTICIPANT. NO AMOUNTS WERE PAID TO ANY PARTICIPANTS DURING THE CURRENT YEAR. $16,198 WERE CREDITED TO PARTICIPANT ACCOUNTS DURING THE CURRENT YEAR. PART I, LINE 7 THE COMPENSATION COMMITTEE OF THE BOARD APPROVED A ONE TIME BONUS PAYMENT OF $125,000 FOR THIS YEAR. THIS INCORPORATED A $50,000 BONUS IN RECOGNITION OF EXTRAORDINARY PERFORMANCE ACROSS ALL LEVELS OF SCHOOL ACTIVITIES AND PERSONNEL AND A SPECIAL NON-RECURRING BONUS PAYMENT OF $75,000. THIS WAS BASED ON GRATITUDE FOR HIS DEDICATION TO THE ORGANIZATION AND EXCEPTIONAL PERFORMANCE. A ILLINOIS DEVELOPMENT FINANCE AUTHORITY VARIABLE RATE DEMAND REVENUE BONDS 861091967 2016-06-21 16415000 SEE PART VI 0 0 0 A 16415000 168500 14464588 1781912 2016 1 0 0 1 A 0 0 0 0 0 0 1 A 0 1 1 0 1 0 0 0 1 A 1 SCHEDULE K, PART I, BOND ISSUES, COLUMN F CONSTRUCTION AND RENOVATION OF CAMPUS FACILITIES AND PAY ISSUANCE COSTS AND REFUNDING OF ILLINOIS DEVELOPMENT FINANCE AUTHORITY VARIABLE RATE DEMAND REVENUE BONDS DATED DECEMBER, 1994 AND JULY, 2000. TRUSTEE TRUSTEE AND FAMILY MEMBER 8700 FINANCIAL AID TUITION LORING STRUDWICK WIFE OF THE HEAD OF SCHOOL 104300 EMPLOYMENT AT LAKE FOREST ACADEMY AS AN INSTRUCTOR OF MATHEMATICS. 0 TODD E ALTOUNIAN TRUSTEE 6400 LFA CONSTRUCTION CONTRACT FOR NEW KITCHEN COUNTERTOPS; TRUSTEE IS AFFILIATED BY FAMILY MEMBERSHIP WITH CONTRACTOR'S OWNERSHIP. 0 X 15 612609 FMV AT DATE OF CONTRIBUT 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS REPRESENTS THE NUMBER OF GIFTS AND PLEDGES RECEIVED DURING THE FISCAL YEAR. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF TRUSTEES HAS DELEGATED THE RESPONSIBILITY FOR REVIEWING AND RECOMMENDING APPROVAL OF THE FORM 990 TO THE FINANCE AND EXECUTIVE COMMITTEES OF THE BOARD. FOLLOWING SUCH RECOMMENDATION AND PRIOR TO THE BOARD MEETING, THE BOARD IS NOTIFIED AND INFORMED OF ITS POSTING ON THE WEBSITE. IT IS ALSO MADE AVAILABLE AT THE BOARD MEETING AT WHICH THE 990 IS APPROVED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISCUSSED UNDER THE ANY OTHER BUSINESS AGENDA ITEM AT THE FALL BOARD OF TRUSTEES MEETING. FORMS ARE DISTRIBUTED TO TRUSTEES AT THAT MEETING AND AN ELECTRONIC VERSION IS ALSO AVAILABLE ON OUR WEBSITE PAGE FOR TRUSTEES. TRUSTEES ARE REQUIRED TO SIGN A FORM ANNUALLY THAT THEY UNDERSTAND AND AGREE TO FOLLOW THE CONFLICT OF INTEREST POLICY. ANY POTENTIAL CONFLICTS THAT ARISE DURING THE YEAR ARE ASSIGNED TO THE COMMITTEE OF TRUSTEES AND THE BOARD FOR DISCUSSION AND RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 THE BASE SALARY AND OTHER COMPENSATION PROVISIONS FOR THE HEAD OF SCHOOL ARE FIXED BY CONTRACT. THE CONTRACT AND COMPENSATION MATTERS ARE ADMINISTERED ON BEHALF OF THE BOARD BY AN AD HOC COMPENSATION COMMITTEE CONSISTING OF THE CHAIR OF THE BOARD AND CERTAIN MEMBERS OF THE EXECUTIVE COMMITTEE. THE COMPENSATION COMMITTEE CONDUCTS AN ANNUAL REVIEW OF THE HEAD OF SCHOOL'S PERFORMANCE BASED UPON GOALS ESTABLISHED AT THE BEGINNING OF THE YEAR AND DETERMINES WHETHER TO AWARD A PERFORMANCE BONUS AND, IF AWARDED, HOW MUCH. THE CONTRACT PROVISIONS WERE DEVELOPED AFTER TAKING INTO ACCOUNT COMPARATIVE COMPENSATION DATA FURNISHED BY AN OUTSIDE EXPERT, AMONG OTHER CRITERIA. THE HEAD OF SCHOOL USES NAIS DATA, ANNUAL EVALUATIONS, AND A SALARY SCALE TO DETERMINE THE COMPENSATION FOR OFFICERS AND OTHER KEY EMPLOYEES WITHIN THE CONSTRAINT OF A TOTAL COMPENSATION BUDGET SET BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 INFORMATION NOT OTHERWISE RESTRICTED IS MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST SUBMITTED TO THE EXECUTIVE ASSISTANT TO THE HEAD OF SCHOOL.