2025-11-14T11:24:42-06:00 2025-06-30 392519050 ELLIOTT DAVIS ADVISORY LLC 500 EAST MOREHEAD STREET SUITE 700 CHARLOTTE NC 28202 990 2024-07-01 560623935 CHARLOTTE COUNTRY DAY SCHOOL CHAR 7049434500 1440 CARMEL ROAD CHARLOTTE NC 28226 DAVID L MANCOS CHIEF FINANCIAL OFFICER 7049434500 2025-11-12 1 1 JANICE A RATICA P00358837 7043338881 2025-11-12 2024 2025-03-06 01:10:19Z DR TARA CHRISTIE KINSEY 1440 CARMEL ROAD CHARLOTTE NC 28226 72675423 0 X WWW. CHARLOTTECOUNTRYDAY.ORG X 1941 NC CHARLOTTE COUNTRY DAY SCHOOL PROVIDES COMPREHENSIVE EDUCATIONAL PROGRAMS FOR GRADES JUNIOR KINDERGARTEN THROUGH GRADE 12 ON A NON-DISCRIMINATORY BASIS. 26 26 728 600 123579 91820 7322941 6697723 54572119 56955626 1957703 3410319 501794 369735 64354557 67433403 3906775 4345620 0 0 41684654 42848056 0 0 3244631 21617730 21596499 67209159 68790175 -2854602 -1356772 258609580 262956937 37207283 37018621 221402297 225938316 X THROUGH EXCELLENCE IN EDUCATION, CHARLOTTE COUNTRY DAY SCHOOL DEVELOPS THE POTENTIAL OF EACH STUDENT BY FOSTERING INTELLECTUAL CURIOSITY, PRINCIPLED CHARACTER, ETHICAL LEADERSHIP AND A RESPONSIBILITY TO SERVE. THE KEY VALUES AND COMMITMENTS ARE EDUCATIONAL EXCELLENCE, CHARACTER, COMMUNITY, AND SERVICE. 0 0 49181158 4345620 51066300 INSTRUCTIONAL: FUNDS WERE USED TO PROVIDE COMPREHENSIVE EDUCATIONAL PROGRAMS TO APPROXIMATELY 1,740 STUDENTS IN GRADES JUNIOR KINDERGARTEN THROUGH GRADE 12. 3716725 3388067 SPECIAL PROGRAM FEES: FUNDS WERE USED TO PROVIDE SPECIAL PROGRAMS, INCLUDING AFTERSCHOOL CARE, AFTERSCHOOL ENRICHMENT CLASSES, TUTORING, AND SUMMER DAY CAMPS (SPORTS, ARTS, ENRICHMENT) TO CHILDREN IN GRADES JUNIOR KINDERGARTEN THROUGH GRADE 12. 4844773 2501259 AUXILIARY SERVICES: FUNDS WERE USED TO PROVIDE FOOD, CAMPUS STORE, AND TRANSPORTATION TO STUDENTS IN GRADES JUNIOR KINDERGARTEN THROUGH GRADE 12. THESE EXPENSES ALSO INCLUDED COSTS ASSOCIATED WITH OPERATING AND MAINTAINING THE DONATED WEDDINGTON FARM PROPERTY. 57742656 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 151 2 1 728 1 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DAVID L MANCOS 7049434500 1440 CARMEL ROAD CHARLOTTE NC 28226 SAMUEL B BOWLES TRUSTEE 3.00 X 0 0 0 LUTHER J BLYTHE JR TRUSTEE 3.00 X 0 0 0 BRIAN F CHAMBERS TRUSTEE 3.00 X 0 0 0 DR KANDI DEITEMEYER TRUSTEE 3.00 X 0 0 0 PONTEA F DIXON TRUSTEE 3.00 X 0 0 0 SAMUEL E FARNHAM SR TRUSTEE 3.00 X 0 0 0 SAMUEL B HOOD TRUSTEE 3.00 X 0 0 0 SHANON JONES TRUSTEE 3.00 X 0 0 0 DR TIFFANI M JONES TRUSTEE 3.00 X 0 0 0 LUIS M LLUBERAS TRUSTEE 3.00 X 0 0 0 SU PING LU TRUSTEE 3.00 X 0 0 0 MICHAEL B MAGUIRE TRUSTEE 3.00 X 0 0 0 KELLY WALTON MILLER TRUSTEE 3.00 X 0 0 0 STANTON D MCCULLOUGH TRUSTEE 3.00 X 0 0 0 ALI M SUMMERVILLE TRUSTEE 3.00 X 0 0 0 JENNIFER J WARD TRUSTEE 3.00 X 0 0 0 ANN E WILLEY TRUSTEE 3.00 X 0 0 0 HOWARD C BISSELL LIFE TRUSTEE 3.00 X 0 0 0 SALLY CANNON SAUSSY LIFE TRUSTEE 3.00 X 0 0 0 WILLIAM H ZIMMERN CHAIR 3.00 X X 0 0 0 DR LAUREN I BROWNE VICE CHAIR 3.00 X X 0 0 0 DR LISA M TOPPIN VICE CHAIR 3.00 X X 0 0 0 R GLENN SHERRILL JR VICE CHAIR 3.00 X X 0 0 0 ANDREW W TATE VICE CHAIR 3.00 X X 0 0 0 RONALD E ELIASEK JR SECRETARY-TREASURER 3.00 X X 0 0 0 DAVID L MANCOS CFO & INTERIM HOS (12/23 - 6/25) 70.00 X 472956 0 452246 SCOTT M WAYBRIGHT ASSISTANT HEAD OF SCHOOL THRU 12/24 50.00 X 243779 0 25323 KATHARINE H ATKINS DIRECTOR OF ADVANCEMENT 50.00 X 241490 0 73629 WARREN M SEPKOWITZ HEAD OF MIDDLE SCHOOL 50.00 X 221111 0 25277 GREGORY J WALTERS DIRECTOR OF FACILITIES AND OPERATIONS 50.00 X 204518 0 24606 WILLIAM MULCAHY HEAD OF LOWER SCHOOL 50.00 X 177321 0 75685 MARCEL GAUTHIER FORMER HEAD OF SCHOOL 0.00 X 639058 0 9108 2200233 0 685874 53 1 1 0 ALADDIN FOOD MANAGEMENT SERVICES LLC 2400 ANSYS DRIVE SUITE 404 CANONBURG PA 15317 FOOD MANAGEMENT 1935538 THE JOHNSON GROUP 4215-K STUART ANDREW BLVD CHARLOTTE NC 28217 JANITORIAL 811628 BALFOUR BEATTY CONSTRUCTION 1930 CAMDEN ROAD CHARLOTTE NC 28203 CONSTRUCTION 799371 CLARKPOWELL 110 REGENT DRIVE WINSTON SALEM NC 27103 AV EQUIPMENT & INSTALLATION 725920 SHOWALTER CONSTRUCTION CO INC 620 W 24TH STREET CHARLOTTE NC 28206 CONSTRUCTION 588699 19 133742 6563981 317019 6697723 TUITION 900099 50403051 50403051 PROGRAM FEES 900099 3388067 3388067 FOOD SERVICES 900099 1993594 1993594 TRANSPORTATION 900099 507651 507651 AQUATIC CENTER REVENUE 900099 378928 378928 284335 284335 56955626 2747705 -7446 2755151 130016 0 130016 130016 130016 5392246 1850 4731482 0 660764 1850 662614 131025 531589 352629 133742 212215 140414 140414 135564 35054 100510 100510 262064 263269 -1205 -1205 67433403 56955626 123579 3656475 4345620 4345620 1573369 277561 1018247 277561 29250548 25838461 2092763 1319324 1428963 1301524 46046 81393 8386158 7075399 998227 312532 2209018 1908393 197426 103199 254612 254612 80487 80487 470921 470921 3586602 2850480 592697 143425 120960 2735 118225 1044552 371282 495137 178133 1250523 1099859 85628 65036 1570926 1422517 100506 47903 508354 487055 11716 9583 916828 594328 95308 227192 714680 633421 55031 26228 5600550 4963767 431242 205541 624627 39380 585247 GROUNDS EXPENSE & MAINT 1612973 1463396 101298 48279 BOOKS & EDUCATIONAL PRO 1581577 1581577 FOOD SERVICE & HOSPITAL 959899 959899 ATHLETIC EXPENSE 348534 348534 348894 180203 87614 81077 68790175 57742656 7802888 3244631 24414204 32924330 1899795 5822549 2464679 2383142 6956715 619858 171587 171409 784425 918105 209429682 66388391 145243198 143041291 20859425 22541859 55247143 54246158 568409 288236 258609580 262956937 6210139 6407145 9062394 9603406 21605453 20815255 329297 192815 37207283 37018621 X 152747650 152350325 68654647 73587991 221402297 225938316 258609580 262956937 X -1356772 6172964 -280173 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 71386810 263582 6795439 850340 1999660 75595831 65131140 1681564 7325306 800860 1950340 71386810 62249581 1343330 3636629 719269 1779131 65131140 62524697 3704548 -1039009 652566 1888089 62649581 50735007 838846 13471494 586776 1933874 62524697 0.15450 0.84550 0.00000 0 0 33055686 33055686 150173412 48947267 101226145 21929615 15409718 6519897 4270969 2031406 2239563 143041291 PRIVATE INVESTMENT FUNDS 54246158 F 54246158 FINANCING LEASE LIABILITY 142815 PAYABLE TO TFI 50000 192815 X 69020191 6172964 -4625793 1547171 67473020 470921 -510538 -39617 67433403 64484172 510538 510538 63973634 470921 4345620 4816541 68790175 PART V, LINE 4: ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS AND FINANCIAL AID, FACULTY AND STAFF SUPPORT, CURRICULUM AND PROGRAM SUPPORT AND GENERAL OPERATING EXPENSES, SUCH AS CAMPUS AND FACILITY MAINTENANCE. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: COUNTRY DAY IS EXEMPT FROM FEDERAL INCOME TAX AND APPLICABLE STATE STATUTES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"). ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES IN THE FINANCIAL STATEMENTS. IN ACCORDANCE WITH IRC REGULATIONS, COUNTRY DAY IS TAXED ON UNRELATED BUSINESS INCOME, WHICH CONSISTS OF EARNINGS FROM ACTIVITIES NOT RELATED TO THE EXEMPT PURPOSE OF THE SCHOOL. MANAGEMENT HAS EVAULATED THE EFFECT OF GUIDANCE SURROUNDING UNCERTAIN TAX POSITIONS AND CONCLUDED THAT COUNTRY DAY HAD NO SIGNIFICANT FINANCIAL STATEMENT EXPOSURE TO UNCERTAIN TAX POSITIONS AT JUNE 30, 2025 AND 2024. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID SHOWN NET OF TUITION ON FINANCIALS -4,345,620. CHANGE IN FAIR VALUE OF INTEREST RATE SWAPS -280,173. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT AND GAMING EXPENSES -247,269. COST OF GOODS SOLD -263,269. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT AND GAMING EXPENSES 247,269. COST OF GOODS SOLD 263,269. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID SHOWN NET OF TUITION ON FINANCIALS 4,345,620. 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 NONDISCRIMINATION POLICY IS PUBLISHED ON THE SCHOOL'S WEBSITE AND LINKED ON EVERY PAGE IN THE WEBSITE FOOTER. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES INTERNATIONAL STUDIES COSTA RICA SISTER SCHOOL EXCHANGE 35803 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES INTERNATIONAL STUDIES CHINA CULTURAL EXPERIENCE 76777 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES INTERNATIONAL STUDIES ENGLAND CULTURAL EXCHANGE, ITALY RENAISSANCE EXPERIENCE, FRANCE LANGUAGE & CULTURE EXPERIENCE, AND SPAIN LANGUAGE & CULTURE EXPERIENCE 267687 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICES INTERNATIONAL STUDIES QUEBEC SISTER SCHOOL EXCHANGE 13448 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, INVESTMENTS 29930676 0 0 0 0 0 0 30324391 0 30324391 0 0 0 0 1 0 PART III ACCOUNTING METHOD: AMOUNTS REPORTED FOR EXPENDITURES IN PART I HAVE BEEN CALCULATED USING THE ACCRUAL METHOD OF ACCOUNTING. BIG SATURDAY 238448 83800 154648 105 4255 28508 9199 2675 44865 GOLF OUTING 51560 35994 15566 2679 15519 8385 175 5 196363 13948 182415 50817 1747 43286 486371 133742 352629 105 6934 44027 68401 4422 88326 212215 140414 135564 30000 0 0 5054 1 1.00000 135564 30000 5054 35054 100510 NC 0 A LICENSE TO CONDUCT RAFFLES IS NOT REQUIRED IN THE STATE OF NORTH CAROLINA. 0 1 0 0.50000 0.50000 DAVID L MANCOS 1440 CARMEL ROAD CHARLOTTE NC 28226 0 0 1 FINACIAL AID 179 3495280 TUITION RATES NEED-BASED ASSISTANCE ENDOWMENT SCHOLARSHIPS 64 850340 PART I, LINE 2: THE AMOUNT OF THE FINANCIAL AID OR SCHOLARSHIP IS APPLIED AS A CREDIT TO A STUDENT'S BILLING ACCOUNT. THE FINANCIAL AID COMMITTEE REVIEWS ALL REQUESTS FOR FINANCIAL AID. ADDITIONALLY, EACH DONOR (OF A NAMED SCHOLARSHIP ENDOWMENT) RECEIVES AN ANNUAL COMMUNICATION FROM COUNTRY DAY'S DEVELOPMENT OFFICE REGARDING THE SCHOLARSHIP RECIPIENT. THE SUPPORT AWARDED IS BASED ON FINANCIAL NEED. X X X X X 1 1 X X X X X 1 1 0 0 0 0 0 0 0 DAVID L MANCOS CFO & INTERIM HOS (12/23 - 6/25) 362185 0 86161 0 24610 0 443000 0 9246 0 925202 0 0 0 MARCEL GAUTHIER FORMER HEAD OF SCHOOL 604200 0 0 0 34858 0 0 0 9108 0 648166 0 0 0 KATHARINE H ATKINS DIRECTOR OF ADVANCEMENT 227900 0 0 0 13590 0 9116 0 64513 0 315119 0 0 0 SCOTT M WAYBRIGHT ASSISTANT HEAD OF SCHOOL THRU 12/24 211602 0 0 0 32177 0 15870 0 9453 0 269102 0 0 0 WILLIAM MULCAHY HEAD OF LOWER SCHOOL 173793 0 0 0 3528 0 6952 0 68733 0 253006 0 0 0 WARREN M SEPKOWITZ HEAD OF MIDDLE SCHOOL 210987 0 0 0 10124 0 15824 0 9453 0 246388 0 0 0 GREGORY J WALTERS DIRECTOR OF FACILITIES AND OPERATION 202045 0 0 0 2473 0 15153 0 9453 0 229124 0 0 0 PART I, LINE 1A THE BOARD APPROVED THAT THE HEAD OF SCHOOL MAY TRAVEL FIRST-CLASS. THE BOARD ALSO APPROVED THAT THE HEAD OF SCHOOL IS ALLOWED A BUDGETED AMOUNT OF DISCRETIONARY EXPENDITURES. IT IS USED TO SUPPORT ANY UNANTICIPATED NEEDS OF THE SCHOOOL. AS A CONDITION OF EMPLOYMENT, THE HEAD OF SCHOOL IS REQUIRED TO LIVE IN A HOUSE OWNED BY THE SCHOOL, WHICH IS ADJACENT TO THE CANNON CAMPUS PROPERTY. THIS RESIDENCE IS PROVIDED FOR THE CONVENIENCE OF THE SCHOOL IN HAVING THE FUNCTIONS OF THE OFFICE OF THE HEAD OF SCHOOL EFFICIENTLY DISCHARGED. THE SCHOOL PROVIDES HOUSEKEEPING SERVICES TO THE HEAD OF SCHOOL FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THE HEAD OF SCHOOL CAN PERFORM ESSENTIAL SCHOOL BUSINESS AND ACTIVITIES AT THE HOME. THIS HOUSING ALLOWANCE IS TREATED AS A NON-TAXABLE BENEFIT. ANY BONUS OR TAXABLE FRINGE BENEFIT THAT IS GROSSED UP FOR TAX PURPOSES IS ALSO TREATED AS TAXABLE COMPENSATION. PART I, LINES 4A-B AS PART OF A SEPARATION AGREEMENT DATED 12/15/2023, THE FORMER HEAD OF SCHOOL WAS TO BE PAID ONE YEAR OF SALARY ($604,200) PAYABLE OVER A 12 MONTH PERIOD FROM JANUARY 2024 TO DECEMBER 2024. FROM DECEMBER 2023 THROUGH JUNE 30, 2025, THE CFO ASSUMED THE ADDITIONAL ROLE OF INTERIM HEAD OF SCHOOL AND AN IRC SECTION 457F SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN WAS ESTABLISHED AS PART OF A NEW MULTI-YEAR EMPLOYMENT CONTRACT. IN ADDITION TO THE $307,299 CONTRIBUTED TO THE PLAN IN THE PRIOR FISCAL YEAR, COUNTRY DAY CONTRIBUTED $174,175 IN THE CURRENT FISCAL YEAR. ALL DEFERRED COMPENSATION CONTRIBUTIONS BECOME VESTED AND PAYABLE JULY 1, 2027, SUBJECT TO THE CFO'S CONTINUED EMPLOYMENT. A PUBLIC FINANCE AUTHORITY 273866124 000000000 2015-09-01 26974489 REFUND PRIOR ISSUE AND SCHOOL FACILITY IMPROVEMENTS 0 0 0 A 4031643 26974489 339489 10000000 16635000 2018 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 1 TORONTO - DOMINION BANK 15.000000000000 0 0 0 0 1 A 1 114340 TUITION REMISSION TUITION REMISSION X 42 317019 FMV 0 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE COMMITTEE REVIEWS THE IRS FORM 990 WITH THE CHIEF FINANCIAL OFFICER BEFORE THE FORM IS FILED. THE IRS FORM 990 IS THEN PROVIDED TO BOARD MEMBERS PRIOR TO FILING. MEMBERS ARE ENCOURAGED TO REVIEW THE FORM AND DIRECT ANY QUESTIONS TO THE CHAIR OF THE FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD MAINTAINS A CONFLICT OF INTEREST POLICY WHICH IS REVIEWED AND SIGNED ON AN ANNUAL BASIS. ALL TRUSTEES AND OTHER INTERESTED PERSONS ARE REQUIRED TO READ, COMPLETE AND SIGN THE CONFLICT OF INTEREST POLICY FORM ANNUALLY. IF AN ISSUE IS TO BE DECIDED BY THE BOARD THAT INVOLVES A POTENTIAL CONFLICT OF INTEREST FOR A BOARD MEMBER OR OTHER INTERESTED PERSONS, IT IS THE RESPONSIBILITY OF THE BOARD MEMBER OR OTHER INTERESTED PERSONS TO: (1) IDENTIFY THE POTENTIAL CONFLICT OF INTEREST SO THAT BOARD MEMBERS WHO ARE VOTING ON A DECISION ARE AWARE THAT ANOTHER MEMBER'S INTERESTS ARE BEING AFFECTED; (2) NOT PARTICIPATE IN THE DISCUSSION OF THE PROGRAM, ISSUE OR MOTION BEING CONSIDERED; AND, (3) BE RECUSED DURING THE VOTE ON THE MOTION. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL HAS A HEAD'S COMPENSATION COMMITTEE. THE COMMITTEE ANNUALLY REVIEWS BENCHMARK COMPENSATION DATA FROM SEVERAL SOURCES SUCH AS NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS) AND INDEPENDENT SCHOOL DATA EXCHANGE (INDEX). THE COMMITTEE ANALYZES DATA FROM THESE AND OTHER ORGANIZATIONS IN ORDER TO MAKE A RECOMMENDATION TO THE BOARD OF TRUSTEES REGARDING THE HEAD'S COMPENSATION. THE BOARD HAS APPROVAL AUTHORITY FOR THE HEAD'S COMPENSATION AND THE DECISION IS DOCUMENTED ANNUALLY. THE HEAD OF SCHOOL DETERMINES AND ESTABLISHES SALARIES FOR ALL OTHER TOP MANAGEMENT AND KEY EMPLOYEES. HE USES DATA FROM THESE SAME ORGANIZATIONS (NAIS & INDEX) TO ASSIST IN ESTABLISHING TOP MANAGEMENT AND KEY EMPLOYEE SALARIES. ALL SALARY INCREASES MUST BE WITHIN THE BUDGET AS APPROVED BY THE BOARD OF TRUSTEES, AND THE BOARD MONITORS THE BUDGET TO ENSURE COMPLIANCE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAPS -280,173. FORM 990, PART XII, LINE 2C: PROCESS HAS NOT CHANGED.