2020-05-18T08:43:34-05:00 2019-06-30 221478099 COHNREZNICK LLP 350 CHURCH STREET 12TH FLOOR HARTFORD CT 06103 990 2018-07-01 060646786 MISS PORTER'S SCHOOL INC MISS 8604093500 60 MAIN STREET FARMINGTON CT 060322232 MICHAEL BERGIN CFO 8604093500 2020-05-14 1 LORI ROTHE YOKOBOSKY CPA P01273422 9592007000 2020-05-12 209.59.242.35 2020-05-14 13:46:20 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 5977B2EE4F245A7782B73B46A9C42D0275CA7C2B 2018 2020-09-23 17:36:50Z MICHAEL J BERGIN 60 MAIN STREET FARMINGTON CT 060322232 78159295 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. 25 24 302 255 170622 0 4981433 9004108 18319243 18819178 16500183 15651442 457482 511802 40258341 43986530 3989060 4245792 0 0 13612350 13563667 0 0 3077224 10890255 12210885 28491665 30020344 11766676 13966186 177099962 182701009 23610848 23667097 153489114 159033912 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 20736768 4245792 18815282 INDEPENDENT SECONDARY SCHOOL WITH 208 BOARDERS AND 104 DAY STUDENTS, 51 SARAH PORTER LEADERSHIP INSTITUTE, 18 JR MODEL UN, 27 WRITERS WORKSHOP, 15 STEAM INSTITUTE, 19 NEW GIRL LEADERSHIP, 24 GLOBAL LANGUAGE & LEADERSHIP INSTITUTE, 22 BIOTECH, AND 9 ISLAND SCHOOL. 20736768 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 1 0 1 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 1 118 0 1 302 1 1 1 1 CJ 0 0 0 1 1 0 0 0 0 1 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CT NY X MICHAEL J BERGIN 8604093500 60 MAIN STREET FARMINGTON CT 060322232 GAYLYNN BURROUGHS TRUSTEE 1.00 X 0 0 0 FIONA M CIBANI 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 ALTHEA BEATON DUCARD TRUSTEE 1.00 X 0 0 0 SONIA HOLDEN EVERS SECRETARY 5.00 X X 0 0 0 BERYL GAO TRUSTEE 1.00 X 0 0 0 LISA S LEWIS TRUSTEE 1.00 X 0 0 0 SARAH KLISH LIU TRUSTEE 1.00 X 0 0 0 DARCY S MAURO TREASURER 5.00 X X 0 0 0 J MICHAEL MCQUADE VICE CHAIR OF THE BOARD 5.00 X X 0 0 0 MARTIN NANCE TRUSTEE 1.00 X 0 0 0 MARTHA POMERANTZ TRUSTEE 2.00 X 0 0 0 SHAKIRA RAMOS TRUSTEE 1.00 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 K SIMPKINS TRUSTEE 3.00 X 0 0 0 KAREN T STAIB CHAIR OF THE BOARD 5.00 X X 0 0 0 CLAIRE THEOBALD TRUSTEE 2.00 X 0 0 0 JONATHAN USICH TRUSTEE 1.00 X 0 0 0 JOHN C WILCOX TRUSTEE 3.00 X 0 0 0 LEAH WRIGHT-RIGUEUR TRUSTEE 1.00 X 0 0 0 KATHERINE G WINDSOR HEAD OF SCHOOL 40.00 X X 1053052 0 283224 MICHAEL J BERGIN CFO, COO 40.00 X 344475 0 143531 CHRISTINE PINA CHIEF ADVANCEMENT OFFICER 40.00 X 250220 0 84699 CHRISTINA DIEGUEZ-KUO CAMPAIGN DIRECTOR 40.00 X 137800 0 18642 RICH HIGLEY DIRECTOR OF SAFETY, SECURITY & FACILITY SERVICES 40.00 X 121556 0 28052 ELIZABETH SCHMITT CHIEF ENROLLMENT AND SAO 40.00 X 158594 0 124749 TIM QUINN CHIEF ACADEMIC OFFICER AND DEAN OF FACULTY 40.00 X 120364 0 73249 2186061 0 756146 8 0 1 0 BROCK AND COMPANY INC 257 GREAT VALLEY PARKWAY MALVERN PA 19355 FOOD SERVICES 1496491 CONTEMPO RESTORATION LLC PO BOX 1454 FARMINGTON CT 06034 CONSTRUCTION 417797 OFFIT CAPITAL 485 LEXINGTON AVE FL 24 NEW YORK NY 10017 INVESTMENT ADVISORY SERVICES 355249 STRATEGIC INVESTMENT GROUP 1001 19TH STREET N ARLINGTON VA 22209 INVESTMENT ADVISORY SERVICES 193922 CEH DESIGN INC 4 JACKLIN ROAD BETHEL CT 06801 PRINTING SERVICES 107632 6 9004108 614655 9004108 TUITION AND FEES 611110 18400738 18400738 SUMMER PROGRAMS 611110 330345 330345 STUDENT SERVICE INCOME 611110 88095 88095 18819178 2358984 5998 2352986 195545 0 195545 195545 164624 30921 47391851 32762485 1336908 14629366 -1336908 13292458 13292458 69476 73372 -3896 -3896 DAYCARE CENTER 624410 320153 320153 320153 43986530 18815282 170622 15996518 4245792 4245792 1289585 496745 710049 82791 9102391 5720969 1696172 1685250 878079 546270 173847 157962 1627031 1030829 326466 269736 666581 399993 152848 113740 36372 36372 77057 77057 640206 640206 2652495 2134489 315686 202320 14694 10770 3924 1354787 945323 298543 110921 220839 177347 29254 14238 1206377 1025420 180957 751908 519637 84736 147535 80958 64247 7916 8795 609040 475833 133207 2717420 2309807 407613 242311 205964 36347 DEPARTMENTAL EVENTS AND 691666 294194 126777 270695 MEMBERSHIP DUES 122736 77534 35885 9317 RESTRICTED OPERATING EX 69579 66375 3204 722440 722440 30020344 20736768 6206352 3077224 3675531 8119814 4411986 2910070 4322742 3940868 30227 23465 183540 182388 21664 14297 89873 87013 802486 790052 78834852 41478665 39783046 37356187 53583571 49655977 70195296 79620878 177099962 182701009 1586424 1325954 3995151 4708466 17843471 17493885 93101 62266 92701 76526 23610848 23667097 X 42510823 42078426 42955659 45092139 68022632 71863347 153489114 159033912 177099962 182701009 X 13966186 -8932370 510982 X X 0 1 X 1 0 X 11866891 5672285 4912616 4981433 9004108 36437333 11866891 5672285 4912616 4981433 9004108 36437333 10600617 25836716 450410 557215 439833 726539 2383907 4557904 289928 156146 253556 140341 170622 1010593 242434 177527 261250 294650 320153 1296014 43301844 89424319 0.59670 0.68770 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: DAY CARE CENTER - 2014 AMOUNT: $ 214,449. 2015 AMOUNT: $ 148,597. 2016 AMOUNT: $ 249,973. 2017 AMOUNT: $ 284,035. 2018 AMOUNT: $ 320,153. FUNDRAISING PROCEEDS - 2014 AMOUNT: $ 27,985. 2015 AMOUNT: $ 28,930. 2016 AMOUNT: $ 11,277. 2017 AMOUNT: $ 10,615. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 123778495 4184297 7376024 986443 5045003 129307370 114889758 2273869 12547145 964728 4967549 123778495 105878901 1126780 13519395 937505 4697813 114889758 113113332 2151970 -3733396 885338 4767667 105878901 113120382 1548582 3422444 603966 4374110 113113332 0.15600 0.54700 0.29700 0 0 7467302 7467302 61511312 33128323 28382989 9740027 8350342 1389685 116211 116211 37356187 ALTERNATIVE INVESTMENTS 79620878 F 79620878 STUDENT ACTIVITY FUND 76526 76526 X 31369422 -8932370 -4454812 -13387182 44756604 640206 -1410280 -770074 43986530 25824619 690273 690273 25134346 640206 4245792 4885998 30020344 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 ACCORDANCE WITH DONOR-IMPOSED STIPULATIONS OR, IN THE ABSENCE THEREOF, TO SUPPORT THE SCHOOL'S GENERAL OPERATING EXPENSES, INCLUDING SALARIES, FINANCIAL AID AND FACILITIES MAINTENANCE. PART X, LINE 2: THE SCHOOL HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2019 AND 2018 THE SCHOOL'S FEDERAL INFORMATION RETURNS PRIOR TO FISCAL YEAR 2016 ARE CLOSED AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. IF THE SCHOOL HAD UNRELATED BUSINESS INCOME TAXES, IT WOULD RECOGNIZE INTEREST AND PENALTIES ASSOCIATED WITH ANY TAX MATTERS AS PART OF THE INCOME TAX PROVISION AND INCLUDE ACCRUED INTEREST AND PENALTIES WITH THE RELATED TAX LIABILITY IN THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -4,245,792. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -209,020. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -73,372. LOSS ON DISPOSAL OF FIXED ASSETS -1,336,908. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 73,372. BAD DEBT EXPENSE -720,002. LOSS ON DISPOSAL OF FIXED ASSETS 1,336,903. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 4,245,792. 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 10790 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES INTERMISSION PROGRAM 14040 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES INTERMISSION, GOODS 57578 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES INTERMISSION PROGRAM 11012 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 21856725 0 0 0 0 0 0 21950145 0 21950145 1 0 1 1 1 0 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 158 4191285 FMV REDUCTION IN TUITION MEDICAL INSURANCE PREMIUMS AND EXPENSES 4 7180 FMV CASH ASSISTANCE AND SCHOOL EXPENSES 30 47327 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 PORTER'S 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 350675 0 0 0 702377 0 213758 0 69466 0 1336276 0 467403 0 MICHAEL J BERGIN CFO, COO 244851 0 0 0 99624 0 32233 0 111298 0 488006 0 0 0 CHRISTINE PINA CHIEF ADVANCEMENT OFFICER 250220 0 0 0 0 0 31484 0 53215 0 334919 0 0 0 CHRISTINA DIEGUEZ-KUO CAMPAIGN DIRECTOR 137800 0 0 0 0 0 14775 0 3867 0 156442 0 0 0 ELIZABETH SCHMITT CHIEF ENROLLMENT AND SAO 158594 0 0 0 0 0 18532 0 106217 0 283343 0 0 0 TIM QUINN CHIEF ACADEMIC OFFICER AND DEAN OF F 119364 0 1000 0 0 0 13065 0 60184 0 193613 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 2778878 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 SUPPLENTAL INFORMATION SCHEDULE K, PART I, BOND ISSUES: (A) ISSUER NAME: ST CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY (E) ISSUE PRICE: THIS FIGURE DIFFERS FROM FORM 8038 BECAUSE AT THE TIME OF THE ISSUE ONLY $15,338,000 WAS TAX-EXEMPT THUS BRINGING THE TOTAL TAX-EXEMPT BONDS TO $23,031,000 AT THE CLOSE OF THE FISCAL YEAR. (F) DESCRIPTION OF PURPOSE: REFUND 6-12-06 BOND ISSUE AND PROCEEDS FOR CONSTRUCTION AND RENOVATIONS SCHEDULE K, PART II, LINE 3: THIS AMOUNT DIFFERS FROM THE ISSUE PRICE IN PART I BY THE PORTION OF THE SERIES D PROCEEDS WHICH HAVE NOT BEEN DRAWN UPON. SCHEDULE K, PART IV, LINE 2C: THERE IS NO ARBITRAGE KATHERINE WINDSOR OFFICER EXCESS COMPENSATION 0 14013 14013 KATHERINE WINDSOR HEAD OF SCHOOL PART OF COMPENSATION PACKAGE X 180000 182196 0 1 1 MICHAEL BERGIN CFO COMPUTER X 2305 192 0 0 1 182388 SCHEDULE L, PART II, LOANS TO AND FROM INTERESTED PERSONS: (A) NAME OF PERSON: MICHAEL BERGINTHE COMPUTER LOANS FOR EACH INDIVIDUAL WERE ENTERED INTO IN ACCORDANCE WITH THE SCHOOL'S POLICY AS OUTLINED IN THE EMPLOYEE HANDBOOK. AS SUCH, BOARD APPROVAL WAS NOT NEEDED. X 40 614655 FMV 0 1 1 PART I, COLUMN (B): ALL AMOUNTS IN COLUMN B REPRESENT THE NUMBER OF ITEMS CONTRIBUTED. PART I, LINE 32B: FIDELITY IS USED AS A BROKER TO SETTLE ALL STOCK CONTRIBUTIONS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED WITH EXTENSIVE REVIEW FROM INTERNAL BUSINESS OFFICE STAFF AND SENIOR MANAGEMENT. THE FORM 990 IS PROVIDED TO OUR AUDITOR FOR REVIEW, EDITS ARE MADE, AND IT IS THEN REVIEWED BY THE AUDIT 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 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 VALUE OF SPLIT-INTEREST AGREEMENTS -209,020. BAD DEBT EXPENSE 720,002. 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