2020-05-15T13:45:07-05:00 2019-06-30 363990892 Capin Crouse LLP 1330 Avenue of the Americas Suite 23A New York NY 10019 990 2018-07-01 010880911 Ross Institute ROSS 6319075102 18 Goodfriend Drive East Hampton NY 11937 Rob Eloff Interim Treasurer 6319075102 2020-05-15 1 Ted R Batson Jr P00721951 2126530681 139.146.132.42 2020-05-15 14:44:57 ED P 0FF61730296B1857ECE530A162D6E4BE9FF4AC3A 574091C1C6FDC49357A88AC389DBBD2FF54263D3 2018 2020-09-23 17:36:50Z The Ross School Nicole Ross Eloff 18 Goodfriend Drive East Hampton NY 11937 40681555 0 X www.rossinstitute.org X 1993 NY To change the way education meets the future through leadership & engaging the global community. 7 5 430 50 90395 -193101 10357813 4114503 27619672 24925374 -314103 11291998 96647 83592 37760029 40415467 4034312 4654152 0 0 15381000 13051288 0 0 187915 18852751 19452622 38268063 37158062 -508034 3257405 91410659 85038859 22519947 12890742 68890712 72148117 Our mission is to change the way education meets the future; to foster interdisciplinary, integrated thinking and innovative leadership; to engage fully in the global community; and to facilitate lifelong learning. 0 0 29995899 4654152 24834979 Education of students in Pre-Nursery to Pre-K, grades K-12, postgraduate, and for the community-at-large. For fiscal year 2018, 338 students were enrolled. 3447805 Research and development of innovative curriculum and programs in order to prepare students for college and career options in the 21st century. Development and utilization of technology for education in an educational environment. 1034341 Providing professional development for schools and individuals that would like to adopt the Ross Model, growing our worldwide community of Ross Schools that are committed to 21st century education and catalyzing research in order to improve pedagogical practice. 34478045 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 111 0 1 430 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 7 5 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X Susan Wilson 6319075102 18 Goodfriend Drive East Hampton NY 11937 Nicole Ross Eloff Interim President 20.00 X X 0 0 0 Robert Eloff Interim Treasurer 1.00 X X 0 0 0 Lori Schiaffino Interim Co-Chairperson 1.00 X X 0 0 0 Patricia Walton Silver Interim Co-Chairperson 1.00 X X 0 0 0 Nick Appelbaum Trustee 1.00 X 0 0 0 Nathaniel Oppenheimer Trustee 1.00 X 0 0 0 Barrie Glabman Trustee 1.00 X 0 0 0 Margaret Regan Secretary/Manager of Adv. Ops 50.00 X 67168 0 26977 Susan Wilson Controller 50.00 X 60311 0 4708 Jeanette Tyndall Head of Lower School 50.00 X 172936 0 0 Andrea O'Hearn Head of School for Adv.& Ops 50.00 X 170258 0 0 William O'Hearn Head of High School/ Head of School 50.00 X 159930 0 31421 Maria Maciak Director of Media Production 50.00 X 134413 0 25927 Jason Warnick Director of Advancement & Enrollment 50.00 X 123140 0 27736 Junellen Tiska Director of Academics 50.00 X 119796 0 20515 1007952 0 137284 12 0 1 0 Icreon Tech Inc 597 5th Ave 12th Floor New York NY 10017 Software Development/Design Services 913651 Montauk Bus Inc 209 Wading River Road Center Moriches NY 11934 Charter/Bus Services 718975 Pond View Services Inc 67-A Main Street East Hampton NY 11937 Security Services 339900 Baldor Specialty Foods Inc 155 Food Center Drive Bronx NY 10474 Food Service 215368 Dairyland 240 Food Center Drive Bronx NY 10474 Food Service 171929 10 4114503 4114503 Tuition and fees 900099 20867081 20867081 Summer camp income 900099 2546168 2546168 Tennis center income 900099 1060894 970499 90395 Other school programs 900099 451231 451231 24925374 4556 4556 94372 10780 83592 83592 83592 11542750 255308 11287442 11287442 11287442 40415467 24834979 90395 11375590 4654152 4654152 399830 363402 32783 3645 10622875 9655616 870486 96773 1203522 1093870 98681 10971 825061 749316 68167 7578 191183 30985 160198 80801 450 80351 2309662 1717604 571081 20977 196820 196820 456451 435562 19432 1457 84906 76952 7954 3630577 3613011 16870 696 1191563 1187905 3016 642 265979 239381 21368 5230 8492874 8238752 228710 25412 503257 473061 25163 5033 Repairs & Maintenance 926023 900008 22561 3454 Food and Meals 681403 675033 6061 309 Dues and Memberships 309693 294536 10014 5143 Bad Debt Expense 10087 10087 121343 78449 42299 595 37158062 34478045 2492102 187915 X 1536408 2675993 410662 1088128 42778 250000 38009 145187 23557 26300 411114 376834 179706260 99768379 88121812 79937881 196171 296361 630148 242175 91410659 85038859 2612336 1624517 8257323 7933543 186441 2995024 11051382 91836 412465 245822 22519947 12890742 X 68464923 70461039 425789 1687078 68890712 72148117 91410659 85038859 3257405 0 X X 0 1 X 1 0 X 3264423 846860 1618473 10357813 4114503 20202072 3264423 846860 1618473 10357813 4114503 20202072 13355193 6846879 577472 631358 165636 109597 98928 1582991 53620 44621 98241 21883304 156120080 0.31290 0.63980 X Schedule A, Part II, Line 10, Explanation of Other Income: Special Events - 2014 Amount: $ 53,620. 2015 Amount: $ 44,621. Schedule A, Part II: The organization is a school as described under 170(b)(1)(A)(ii) and is not required to complete a public support schedule. Schedule A, Part II is completed to verify the School can qualify under public charity status section 170(b)(1)(A)(vi) and, therefore, qualifies to use the first listed special rule for Schedule B reporting. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 196171 250000 190 446361 195981 190 196171 198384 190 2593 195981 198193 191 198384 197971 222 198193 1.00000 0 0 120254 13513810 13634064 7424293 126179780 80317534 53286539 1567945 985332 582613 13031223 12338844 692379 17868955 6126669 11742286 79937881 Capital lease obligation 245822 245822 Part V, Line 4: Each fiscal year, the Institute is authorized to expend from the Scholarship Fund (endowment) an amount equal to four and one-half percent of the principal of the endowment as of the first business day of such year, or such other amount as shall be mutually agreed upon by the donor or the donor's designated representatives and the Ross School. The endowment payout shall be paid first from the income of the endowment and, if and to the extent that such income is insufficient, from the principal of the endowment. If the income of the endowment in any fiscal year exceeds the authorized payout amount for such year, the excess will be added to principal at the end of such fiscal year. The endowment payout for each fiscal year shall be used to award scholarships to help support the tuition of one or more students at the Institute entering the ninth grade who have exhibited a deep interest in or enjoyment of the arts and/or sciences, especially the environmental sciences, and who are eligible on a needs basis for financial aid at the Institute. Part V, lines 2a-2c In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2019. To date, Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Schedule D, Part V, Lines 2a-2c: Line 2a - Without donor restrictions Line 2b - With donor restrictions 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 organization currently enrolls students of racial minority groups in meaningful numbers consistent with the publicity exception found in Rev. Proc. 75-50 section 4.03(2)(b). Europe (Including Iceland & Greenland) 0 0 Program Services Field trips 271890 South Asia 0 0 Program Services Field trips 239251 South America 0 0 Program Services Field trips 230448 East Asia and the Pacific 0 0 Program Services Field trips 62020 0 0 0 0 0 0 803609 0 803609 0 0 0 0 0 0 Part I, line 3: Expenditures are accounted for using the accrual method of accounting. 1 Scholarships 272 4326344 Summer Camp Financial Aid 97 327808 Part I, Line 2: The assistance provided by the Institute is in the form of academic scholarships to attend the Ross School and financial assistance to attend the summer camp program conducted by the Institute. Records are maintained documenting the participants who receive aid and the rationale for providing aid to each participant. No cash changes hands and funds are directly tied to student accounts. X X X X X 0 0 0 0 0 0 0 0 0 Jeanette Tyndall Head of Lower School 171700 0 0 0 1236 0 0 0 658 0 173594 0 0 0 Andrea O'Hearn Head of School for Adv.& Ops 170000 0 0 0 258 0 0 0 658 0 170916 0 0 0 William O'Hearn Head of High School/ Head of School 159534 0 0 0 396 0 0 0 32080 0 192010 0 0 0 Maria Maciak Director of Media Production 134275 0 0 0 138 0 0 0 26564 0 160977 0 0 0 Jason Warnick Director of Advancement & Enrollment 123086 0 0 0 54 0 0 0 28374 0 151514 0 0 0 Courtney S Ross Former President Operating line of credit X 18206070 186441 0 1 1 Courtney S Ross Former President Receivable from President for expenses X 23557 26300 0 1 0 Courtney S Ross Former President Promissory Note for paying BOA loan down on behalf of the Institute X 3760460 2808583 0 1 1 3021324 Form 990, Part VI, Section A, line 1 The Board of Trustees may, by resolution, designate five or more trustees (one of whom shall be the Chairperson of the Board of Trustees) to constitute an Executive Committee, and delegate to the Executive Committee any of the powers and authority of the Board of Trustees in the management of the business and affairs of the Corporation, except for: the amendment or repeal of Bylaws or the adoption of new Bylaws; the amendment or repeal of any resolution of the Board of Trustees that by its express terms is not so amendable or repealable; the filling of vacancies in the Board of Trustees or in any committee; the approval of any transaction in which a trustee or officer has an interest; and the granting of degrees or making removals from office. Form 990, Part VI, Section A, line 2 Nicole Ross Eloff, Interim President and Robert Eloff, Interim Treasurer - Family relationship Form 990, Part VI, Section B, line 11b The Form 990 is prepared by an independent CPA firm. A preliminary draft of the organization's Form 990, including all required schedules, was provided to management. Management reviewed the draft Form 990 in detail, consulted with the organization's accountants and tax return preparers, and took all other measures necessary and appropriate to ensure that the final version of the Form 990 is complete and accurate to the best of their knowledge. A copy of the final version of the Form 990, including all required schedules, was provided to each member of the organization's Board of Trustees prior to filing with the IRS. Form 990, Part VI, Section B, line 12c Each director, principal officer, and member of a committee with governing board delegated powers signs a conflict of interest statement annually which is reviewed by the officers. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship. Form 990, Part VI, Section B, line 15 The Compensation Committee approves the officers and key employees compensation by performing an analysis and utilizing appropriate data as to the comparability of the compensation. The approval process was documented in the minutes. Form 990, Part VI, Section C, line 19 The School makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part X, Lines 27-29: In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 6/30/2019. The 2018 Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions $70,461,039 Line 29 - Net assets with donor restrictions $ 1,687,078 Total net assets $72,148,117 Form 990, Part XII, Line 2c The organization's Audit Committee assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year. RSIL26 LLC 18 Goodfriend Drive East Hampton NY 11937 Real estate management NY 0 1555486 Ross Institute Stiftelsen Ross Institute Sweden c/o The Ross Institute 560 Broadway New York NY 10012 Education SW N/A N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0