2020-01-15T15:50:46-06:00 2019-06-30 061009205 BLUM SHAPIRO & COMPANY PC 4 BATTERYMARCH PARK SUITE 100 QUINCY MA 021697431 990 2018-07-01 042620156 FALMOUTH ACADEMY INC FALM 5084579696 7 HIGHFIELD DRIVE FALMOUTH MA 025402345 CARMEN DISANTO DIRECTOR OF FINANCE & OPERATIONS 5084579696 2019-12-16 1 MICHELLE Y HATCH P01222458 7819821001 2019-12-16 64.251.63.131 2019-12-16 08:41:49 ES P C2A8F68C24BA4106533A6CD8C72FD917E7C6626D 3C3F3A9A6A2C4A7FAF67B2138946307825C80BAE 2018 2020-09-23 17:36:50Z CARMEN DISANTO 7 HIGHFIELD DRIVE FALMOUTH MA 025402345 9596607 0 X FALMOUTHACADEMY.ORG X 1977 MA HARNESSING THE POWER OF INSPIRED LEARNING IN A WORLD-RENOWNED SCIENTIFIC AND VIBRANT ARTISTIC COMMUNITY, FALMOUTH ACADEMY EMBOLDENS EACH STUDENT TO TAKE CREATIVE AND INTELLECTUAL RISKS TO CONFIDENTLY ENGAGE THE CHALLENGES OF OUR TIMES. 20 20 111 60 0 0 501067 531524 6230011 6711110 141958 243800 83301 96697 6956337 7583131 1244429 1396116 0 0 3929528 4314909 0 0 359536 1880591 1800701 7054548 7511726 -98211 71405 21405760 21737916 1908585 1832606 19497175 19905310 HARNESSING THE POWER OF INSPIRED LEARNING IN A WORLD-RENOWNED SCIENTIFIC AND VIBRANT ARTISTIC COMMUNITY, FALMOUTH ACADEMY EMBOLDENS EACH STUDENT TO TAKE CREATIVE AND INTELLECTUAL RISKS TO CONFIDENTLY ENGAGE THE CHALLENGES OF OUR TIMES. 0 0 5375617 1396116 6691905 THE ACADEMY'S PRIMARY MISSION IS THE EDUCATION OF STUDENTS ENROLLED IN GRADES 7 THROUGH 12. DURING THE CURRENT YEAR THE ACADEMY HAD ENROLLED 208 STUDENTS. 157683 150003 FALMOUTH ACADEMY OFFERS A SUMMER PROGRAM FOR STUDENTS OF ALL AGES AND SKILL LEVELS INVOLVING ACTIVITIES IN THE ARTS, SCIENCE AND ROBOTICS, ATHLETICS, LANGUAGES AND OUTDOOR ACTIVITIES. THE COURSES USUALLY LAST A WEEK AND RUN FOR SIX WEEKS FROM JUNE 25-AUGUST 17. 5533300 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 39 0 1 111 1 0 0 0 0 0 0 0 0 0 0 0 0 X 20 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X CARMEN DISANTO 5084579696 7 HIGHFIELD DRIVE FALMOUTH MA 02540 JOAN O HOLDEN TRUSTEE 2.00 X 0 0 0 JOHN HEYL TRUSTEE 2.00 X 0 0 0 LAURA RYAN SHACHOY TRUSTEE 2.00 X 0 0 0 MICHAEL G JONES TRUSTEE 2.00 X 0 0 0 SCOTT BROWN TRUSTEE 2.00 X 0 0 0 SHEILA GIANCOLA TRUSTEE 2.00 X 0 0 0 MINDY TODD TRUSTEE A/O 5/19 2.00 X 0 0 0 ANDREW BOWEN TRUSTEE A/O 12/18 2.00 X 0 0 0 HENRIK GULMANN TRUSTEE 2.00 X 0 0 0 ROB MUNIER TRUSTEE 2.00 X 0 0 0 ANN EGAN TRUSTEE 2.00 X 0 0 0 ANDREW KINGMAN TRUSTEE 2.00 X 0 0 0 JOHN HEYL TRUSTEE 2.00 X 0 0 0 RUSS LEMCKE TRUSTEE 2.00 X 0 0 0 LINDA BOARDMAN TRUSTEE 2.00 X 0 0 0 NICHOLAS LOWELL TRUSTEE 2.00 X 0 0 0 BETH COLT TRUSTEE 2.00 X 0 0 0 JOSEPH VALLE TRUSTEE/BOARD CHAIR 2.00 X X 0 0 0 COLLEEN C JOHNS TRUSTEE/SECRETARY 2.00 X X 0 0 0 CYNTHIA FELDMANN TRUSTEE/TREASURER 2.00 X X 0 0 0 MATTHEW GREEN HEAD OF SCHOOL A/O 7/1/18 40.00 X 131865 0 29814 J ROBINSON WELLS INTERIM HOS THRU 8/18 40.00 X 110252 0 15874 CARMEN DISANTO DIR. OF FINANCE & OPERATIONS 40.00 X 123590 0 26134 MICHAEL EARLEY ASSISTANT HEAD OF SCHOOL 40.00 X 77606 0 63461 PAMELA HINKLE DIRECTOR OF DEVELOPMENT 40.00 X 105669 0 36388 548982 0 171671 4 0 1 0 CAPE DESTINATIONS 182 QUEEN ANNE ROAD HARWICH MA 02645 TRANSPORTATION 160462 1 70412 461112 81869 531524 TUITION AND FEES 611600 6440940 6440940 SUMMER PROGRAM INCOME 611600 150003 150003 AUXILIARY INCOME 611600 120167 120167 6711110 161131 161131 42444 0 42444 42444 42444 2013454 5000 1935785 0 77669 5000 82669 82669 83815 70412 77691 6124 6124 MISCELLANEOUS INCOME 611600 48129 48129 48129 7583131 6841908 0 209699 1396116 1396116 589540 62573 526967 2774722 1981357 575649 217716 187651 138037 34403 15211 529430 396257 88241 44932 233566 147546 70119 15901 27918 27918 20475 20475 25937 25937 50329 50329 33919 33919 128945 56457 17608 54880 58803 4219 54584 77762 74651 2333 778 191886 191886 552072 524468 22083 5521 121721 115635 4869 1217 REPAIRS AND MAINTENANCE 135736 128950 5429 1357 DEPARTMENTAL EXPENSES 113419 113419 INSTRUCTION EXPENSE 65563 65563 SUMMER EXPENSES 56469 56469 139747 45778 91946 2023 7511726 5533300 1618890 359536 1309377 1237515 20994 666628 208902 68003 70069 36245 80000 0 73431 68366 16799761 5480939 11729880 11318822 7913107 8342337 21405760 21737916 468356 477629 1440229 1354977 1908585 1832606 X 15193295 15451276 1442602 1495380 2861278 2958654 19497175 19905310 21405760 21737916 X 71405 344230 -7500 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7913107 105208 554176 230154 8342337 7557014 107132 564956 315995 7913107 6650774 329185 781108 204053 7557014 4806742 2100390 -58422 197936 6650774 4024753 732296 173679 123986 4806742 0.47420 0.35120 0.17460 0 0 250600 250600 14537883 4205089 10332794 921329 492908 428421 644731 508954 135777 445218 273988 171230 11318822 6497808 344230 -7500 336730 6161078 25937 1396116 1422053 7583131 6089673 0 6089673 25937 1396116 1422053 7511726 PART V, LINE 4: THE ACADEMY'S ENDOWMENT CONSISTS OF APPROXIMATELY 5 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENT. AS REQUIRED BY US GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENT ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE ACADEMY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A REASONABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. THE ENDOWMENT ASSETS ARE INVESTED WITH AN OBJECTIVE OF PRESERVING THE LONG-TERM, REAL PURCHASING POWER OF THE ASSETS WHILE PROVIDING A RELATIVELY PREDICTABLE AND GROWING STREAM OF ANNUAL DISTRIBUTION IN SUPPORT OF THE INSTITUTION. THE ENDOWMENT IS INVESTED IN A BALANCED PORTFOLIO OF EQUITIES AND FIXED INCOME INVESTMENTS. THE ACADEMY HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION, AN AMOUNT THAT CONSIDERS THE DISTRIBUTION IN RELATION TO THE TOTAL PERCENTAGE OF THE ENDOWMENT, AS WELL AS THE LONG-TERM EXPECTED RETURN ON ITS ENDOWMENT. PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSS ON WRITE-OFF OF PLEDGE RECEIVABLE -7,500. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP AID 1,396,116. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP AID 1,396,116. 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 ACADEMY COLLABORATES WITH OTHER PRIVATE SCHOOLS TO PLACE A FULL PAGE AD IN THE BOSTON GLOBE ANNUALLY. THIS AD SPECIFICALLY DECLARES THE ACADEMY HAS A RACIALLY NONDISCRIMINATORY POLICY. ANNUAL SPRING EVENT 154227 70412 83815 58537 4089 11999 3066 154227 70412 83815 58537 4089 11999 3066 77691 6124 1 FINANCIAL AID 108 1396116 PART I, LINE 2: FINANCIAL AID GRANTS ARE APPLIED TO EACH INDIVIDUAL STUDENT'S ACCOUNT AS A REDUCTION IN THE TUITION BALANCE. ONCE THE PARENT/GUARDIAN ACCEPTS THE GRANT, THE WRITTEN DOCUMENT IS SIGNED BY THE PARENT/GUARDIAN AND THE SCHOOL. THE FIRST HALF OF THE FINANCIAL AID IS GIVEN TO THE STUDENT IN AUGUST AND THE SECOND HALF IS GIVEN IN DECEMBER. THE AMOUNT THE STUDENT HAS ACCEPTED IS TRACKED THROUGHOUT THE YEAR. FALMOUTH ACADEMY OFFERS THREE PAYMENT PLANS: PAYMENT IN FULL, TWO PAYMENTS IN JULY AND DECEMBER, OR MONTHLY JULY-APRIL. FINANCIAL AID IS SPREAD ACROSS THE PAYMENT PLAN ACCORDINGLY. FORM 990, SCHEDULE I, PART III, LINE A FINANCIAL AID IS DETERMINED BY THE FAMILY'S NEED. FALMOUTH ACADEMY USES SCHOOL AND STUDENT SERVICES BY THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (SSS BY NAIS) AS A BENCHMARK. THE FAMILY FILLS OUT A PERSONAL FINANCIAL STATEMENT AND UPLOADS TAX INFORMATION WITH THEIR APPLICATION THROUGH SSS BY NAIS. A COMMITTEE CONSISTING OF ADMISSIONS, THE BUSINESS MANAGER, HEAD OF SCHOOL AND FACULTY MEMBERS REVIEW THE APPLICATIONS AND OFFER ASSISTANCE BASED ON NEED. X 1 1 X 0 0 0 0 0 0 0 0 0 MATTHEW GREEN HEAD OF SCHOOL A/O 7/1/18 116865 0 0 0 15000 0 9450 0 20364 0 161679 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL RECEIVES A HOUSING ALLOWANCE. THE HOUSING ALLOWANCE IS INCLUDED IN HIS FORM W-2. NOT REQUIRED TO BE DISCLOSED NOT REQUIRED TO BE DISCLOSED 79393 TUITION REMISSION TO ATTRACT AND RETAIN QUALITY FACULTY MEMBERS X 4 23332 FMV AT DONATION X AUCTION ITEMS 185 58537 FMV AT DONATION 0 0 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS FOR "AUCTION ITEMS" REPRESENTS THE NUMBER OF ITEMS DONATED. THE NUMBER OF CONTRIBUTIONS FOR SECURITIES-PUBLICLY TRADED REPRESENTS THE NUMBER OF INDIVIDUALS WHO DONATED SECURITIES. FORM 990, PART VI, SECTION B, LINE 11B ONCE THE 990 IS PREPARED, IT IS SCHEDULED FOR DISCUSSION AT THE NEXT FINANCE COMMITTEE MEETING. THE FINANCE COMMITTEE WILL REVIEW AND APPROVE THE RETURN FOR FILING. COPIES OF THE 990 WILL BE MADE AVAILABLE TO THE TRUSTEES AFTER APPROVAL. THE FORM 990 IS THEN SIGNED BY THE AUTHORIZED INDIVIDUAL. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL'S CONFLICT OF INTEREST POLICY APPLIES TO ALL TRUSTEES OF THE BOARD. EACH TRUSTEE MUST DISCLOSE ANNUALLY ANY POTENTIAL CONFLICTS. THE COMMITTEE OF TRUSTEES REVIEWS EACH PROPOSED TRANSACTION THAT MIGHT GIVE RISE TO A CONFLICT. IF A CONFLICT IS DETERMINED TO EXIST, THE TRUSTEE WILL DISCLOSE ALL MATERIAL FACTS AT THE BOARD MEETING AND THEN LEAVE THE MEETING WHILE THE CONFLICT IS DISCUSSED AND VOTED UPON. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF TRUSTEES MEETS ON AN ANNUAL BASIS TO EVALUATE THE HEAD OF SCHOOL'S PERFORMANCE. THE BOARD CHAIR, FINANCE CHAIR AND EXECUTIVE COMMITTEE NEGOTIATE THE COMPENSATION FOR THE HEAD OF SCHOOL AND A LAWYER ON THE BOARD REVIEWS THE AGREEMENT TO MAKE SURE THE CONTRACT DOES NOT VIOLATE ANY LAWS. THE DELIBERATION AND DECISIONS ARE DOCUMENTED. THIS PROCESS WAS LAST FOLLOWED IN MAY 2019 TO SET THE COMPENSATION FOR THE HEAD OF SCHOOL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: LOSS ON WRITE-OFF OF PLEDGE RECEIVABLE -7,500.