2020-10-07T10:29:34-05:00 2020-06-30 364049282 PASQUESI SHEPPARD LLC 585 BANK LANE LAKE FOREST IL 60045 990 2019-07-01 362415685 LAKE FOREST COUNTRY DAY SCHOOL LAKE 8472342350 145 SOUTH GREEN BAY ROAD LAKE FOREST IL 600453099 RICHARD PAULUS DIRECTOR OF FINANCE AND OPERATIONS 8476156119 2020-10-06 1 TIMOTHY KLEIN P00008827 8472345000 2020-10-06 50.224.107.130 2020-10-06 18:07:51 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 F0486810F4E25B727E4EAE19B7C9EB598F3DCAAC 2019 2021-01-29 14:40:06Z RICHARD PAULUS 145 S GREEN BAY ROAD LAKE FOREST IL 60045 22899182 0 X WWW.LFCDS.ORG X 1958 IL THE PURPOSE OF THE LAKE FOREST COUNTRY DAY SCHOOL IS TO MAINTAIN AND MANAGE AN INDEPENDENT ELEMENTARY SCHOOL WHICH WILL GUIDE AND STIMULATE CHILDREN TO POSITIVE, CONSTRUCTIVE AND EFFECTIVE ATTITUDES TOWARD WORK, FAMILY AND COMMUNITY. THE SCHOOL ATTEMPTS TO STIMULATE EACH STUDENT TO MAKE THE FULLEST USE OF HIS OR HER CAPACITY TO LEARN. 19 19 135 334 0 0 2589167 1541021 11221178 11114482 1189035 64062 14745 4586 15014125 12724151 1854766 1955030 0 0 7513004 7798675 0 0 346691 5395858 4713829 14763628 14467534 250497 -1743383 53473157 52878172 34841594 36126238 18631563 16751934 X INSPIRED TEACHING, ACADEMIC RIGOR, ATTENTION TO INDIVIDUAL NEEDS, A COMMITMENT TO RESPONSIBLE CITIZENSHIP-THESE PRINCIPLES INFUSE EVERY ASPECT OF LIFE AT LAKE FOREST COUNTRY DAY SCHOOL AND DEFINE OUR DEDICATION TO PRODUCING STUDENTS OF STRONG CHARACTER WITH A PASSION FOR LEARNING. 0 0 12390133 1955030 11114482 THE SCHOOL PROVIDES ACADEMIC INSTRUCTION AND EDUCATION FOR STUDENTS FROM AGE TWO THROUGH THE EIGHTH GRADE. THE ACADEMIC PROGRAM IS ENRICHED BY AN EXTENSIVE EXTRACURRICULAR PROGRAM SPANNING THE ARTS, PUBLICATIONS, COMMUNITY SERVICE, TRIPS AND ATHLETICS. THE SCHOOL PROVIDES A WELL-ROUNDED EDUCATION TO CHILDREN OF VARIOUS SKILLS AND ABILITIES. 12390133 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 20 0 1 135 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X RICHARD PAULUS 8476156119 145 S GREEN BAY ROAD LAKE FOREST IL 600453099 DAVID KELLER PRESIDENT 1.00 X X 0 0 0 KATE FITZGERALD SECRETARY 1.00 X X 0 0 0 KRISTEN HERTEL TRUSTEE 1.00 X 0 0 0 DAVID NEIGHBOURS TRUSTEE 1.00 X 0 0 0 ROBIN STUART TRUSTEE 1.00 X 0 0 0 CHRISTEN BISHOP TRUSTEE 1.00 X 0 0 0 ALEX GOLDFAYN TRUSTEE 1.00 X 0 0 0 DIANA TERLATO TRUSTEE 1.00 X 0 0 0 JAMEE KANE SECRETARY 1.00 X X 0 0 0 CHIP GRACE TRUSTEE 1.00 X 0 0 0 KIMBERLY BEANS TRUSTEE 1.00 X 0 0 0 JEFFREY BRINCAT TRUSTEE 1.00 X 0 0 0 SAMEER CHHABRIA SECRETARY 1.00 X X 0 0 0 TED KOVAS TREASURER 1.00 X X 0 0 0 GILLIAN GROWDON TRUSTEE 1.00 X 0 0 0 MAVI THAKKAR TRUSTEE 1.00 X 0 0 0 PHILIP KELLIHER TRUSTEE 1.00 X 0 0 0 MIMI MURLEY TRUSTEE 1.00 X 0 0 0 ROBYN ROSENBLATT TRUSTEE 1.00 X 0 0 0 JOY HURD HEAD OF SCHOOL 55.00 X 210273 0 165417 PETER MOORE HEAD OF LOWER SCHOOL 50.00 X 134016 0 130769 EDWARD STEWART ATHLETIC DIRECTOR 50.00 X 116500 0 62920 ANDREW SPERLING HEAD OF UPPER SCHOOL 50.00 X 138750 0 16909 NANCY CLIFFORD TEACHER 50.00 X 107060 0 13634 706599 0 389649 5 0 1 0 0 757494 783527 101838 1541021 TUITION FEES 611600 10535000 10535000 STUDENT FEES 611600 237931 237931 TESTING & ADMIN. FEES 611600 196414 196414 TUTORING FEES 611600 145137 145137 11114482 627416 627416 32385 0 32385 32385 32385 9440951 10004305 -563354 -563354 -563354 60105 757494 170726 -110621 -110621 MISCELLANEOUS 900099 82822 82822 82822 12724151 11114482 0 68648 1955030 1955030 210273 173418 28479 8376 5994937 4944180 811949 238808 366266 306713 44270 15283 782094 654931 94530 32633 445105 372734 53799 18572 15409 15409 44000 44000 21426 21426 333073 310026 23047 46745 46745 61027 45050 15977 1146670 1027120 119550 1040485 932006 108479 67188 67188 FOOD EXPENSE 362639 362639 DEPT INSTRUCTIONAL EXPE 339339 339339 SUPPLIES 275985 269703 5188 1094 UTILITIES 228364 228364 731479 401692 297862 31925 14467534 12390133 1730710 346691 4854689 7168427 2398960 1656716 3226354 3465893 38238393 18132659 20820997 20105734 20793331 20324870 68372 0 1310454 156532 53473157 52878172 1058845 1182191 8630105 8284108 22741997 22758207 1189052 2410647 2712680 34841594 36126238 X 12330945 12231796 6300618 4520138 18631563 16751934 53473157 52878172 -1743383 -136246 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 23402772 2155134 -105499 1050064 24402343 22534996 2053177 918612 2104013 23402772 22511134 1219463 1314108 2509709 22534996 21841680 831678 2124466 2286690 22511134 21566182 1953075 20025 1697602 21841680 0.88270 0.02000 0.09730 0 0 885875 885875 33631773 14823782 18807991 3720745 3308877 411868 20105734 INTEREST RATE SWAP AGREEMENT 2712680 2712680 X 10782175 -136246 -1955030 -2091276 12873451 21426 -170726 -149300 12724151 12661804 170726 170726 12491078 21426 1955030 1976456 14467534 PART X, LINE 2: MANAGEMENT ANNUALLY REVIEWS ITS TAX POSITIONS AND HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED AGAINST GROSS TUITION -1,955,030. PART XI, LINE 4B - OTHER ADJUSTMENTS: AUCTION EXPENSES -170,726. PART XII, LINE 2D - OTHER ADJUSTMENTS: AUCTION EXPENSES 170,726. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED AGAINST GROSS TUITION 1,955,030. SCHEDULE D, PART V, LINE 4 DRAWS FROM THE ENDOWMENT FUND ARE USED TO SUPPORT THE SCHOOL'S OPERATIONS AND MISSION. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 AN ANNUALLY PUBLISHED BULLETIN OF INFORMATION IS AVAILABLE TO ALL MEMBERS OF THE COMMUNITY AND CONTAINS A STATEMENT OF THE SCHOOL'S NONDISCRIMINATION POLICY. AUCTION 817599 757494 60105 38815 1500 130411 817599 757494 60105 38815 1500 130411 170726 -110621 1 FINANCIAL AID IS PROVIDED TO THOSE STUDENTS WHO ARE DETERMINED TO NEED ASSISTANCE PER JUDGEMENT BY THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID IN PRINCETON, NEW JERSEY. 68 1331325 DETERMINED BY THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID. DISCOUNTED TUITION TUITION REMISSION IS PROVIDED FOR STUDENTS WHO ARE CHILDREN OF FACULTY AND STAFF. 26 623705 BASED ON GRADE LEVEL OF CHILDREN ENROLLED AT LAKE FOREST COUNTRY DAY SCHOOL. FREE TUITION PART I, LINE 2: THE SCHOOL BOARD ALLOCATES A BUDGETED AMOUNT FOR FINANCIAL AID. AWARDS ARE DETERMINED BY EVALUATING EACH FAMILY'S INCOME, EXPENSES, AND OTHER OBLIGATIONS. STUDENTS WHO RECEIVE AN AWARD MUST SHOW CONTINUED NEED FOR FINANCIAL AID, MEET ACADEMIC STANDARDS, AND DEMONSTRATE GOOD CITIZENSHIP. X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 JOY HURD HEAD OF SCHOOL 210273 0 0 0 0 0 48549 0 116868 0 375690 0 0 0 PETER MOORE HEAD OF LOWER SCHOOL 134016 0 0 0 0 0 38989 0 91780 0 264785 0 0 0 EDWARD STEWART ATHLETIC DIRECTOR 116500 0 0 0 0 0 6850 0 56070 0 179420 0 0 0 ANDREW SPERLING HEAD OF UPPER SCHOOL 138750 0 0 0 0 0 8622 0 8287 0 155659 0 0 0 NANCY CLIFFORD TEACHER 107060 0 0 0 0 0 6671 0 6963 0 120694 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL JOY HURD IS PROVIDED SUBSIDIZED HOUSING, A DISCRETIONARY SPENDING ACCOUNT, SUBSIDIZED AUTOMOBILE, AND PERSONAL SERVICES. ADDITIONALLY, PETER MOORE ALSO RECEIVED SUBSIDIZED HOUSING. A ILLINOIS FINANCE AUTHORITY 861091967 2013-08-01 23000000 REFINANCE BONDS INITIALLY ISSUED 06/16/2005 FOR THE DEVELOPMENT PROJECT 0 1 0 A 23000000 302924 22697076 2007 1 0 1 1 A 0 0 0 0 1 0 0 A 0 0 0 0 1 1 LAKE FOREST BANK AND TRUST COMPANY 9.083333300000 0 0 0 0 0 A 0 X 3 11314 FMV X 1000 5950 FMV X DONATED AUCTION ITEMS 8 84274 FMV X GUITAR & MUSIC BOOKS 1 300 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B FOR THE FISCAL YEAR ENDING JUNE 30, 2020, FORM 990 WAS BROUGHT TO THE FINANCE/AUDIT COMMITTEE FOR REVIEW PRIOR TO FILING. THE FINANCE AUDIT COMMITTEE HAS BEEN APPROVED TO REVIEW THE FORM 990 ON BEHALF OF THE BOARD. A COPY OF THE COMPLETE FORM 990 WAS MADE AVAILABLE TO THE BOARD FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE BOARD SIGNS A CONFLICT OF INTEREST POLICY BETWEEN BOTH TRUSTEE AND SCHOOL AND TRUSTEE AND TRUSTEE. IN CORRELATION WITH THE SCHOOL'S "HONOR CODE" PHILOSOPHY, TRUSTEES ARE EXPECTED TO ABIDE BY THIS CODE AS A WAY OF MONITORING ANY CONFLICT OF INTEREST. SHOULD ANY CONFLICT ARISE BETWEEN THE SCHOOL AND A TRUSTEE, THE CONFLICT OF INTEREST WOULD BE MADE KNOWN TO THE BOARD, WHICH WOULD THEN DETERMINE THE APPROPRIATE COURSE OF ACTION. FORM 990, PART VI, SECTION B, LINE 15 WHEN HIRING OFFICERS OR KEY EMPLOYEES, THE DAY SCHOOL REFERS TO STATISTICS PROVIDED BY THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS. FROM THIS RESOURCE THE SCHOOL USES COMPARABLE SALARIES FOR LIKE-SIZE SCHOOLS BOTH REGIONALLY AND NATIONALLY AS A REFERENCE IN DETERMINING COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.