2019-03-13T15:34:44-05:00 2018-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2017-07-01 560944449 CHARLOTTE LATIN SCHOOLS CHAR 7048467299 9502 PROVIDENCE ROAD CHARLOTTE NC 282778695 FLETCHER GREGORY ASSOCIATE HEADMASTER 7048467299 2019-03-12 1 AMANDA ADAMS P00748038 7043771678 38.142.98.34 2019-03-12 08:48:12 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 18694F53AD11E15FFCEA276DE93F63B2E746D691 2017 2019-02-21 02:37:17Z FLETCHER GREGORY 9502 PROVIDENCE ROAD CHARLOTTE NC 282778695 51973035 0 X WWW.CHARLOTTELATIN.ORG X 1970 NC CHARLOTTE LATIN IS AN ACCREDITED, INDEPENDENT, CO-EDUCATIONAL, NON-SECTARIAN, COLLEGE-PREPARATORY DAY SCHOOL SERVING 1,410 STUDENTS IN TRANSITIONAL KINDERGARTEN THROUGH THE TWELFTH GRADE. LATIN DOES NOT DISCRIMINATE ON THE BASIS OF SEX, RACE, COLOR, RELIGION, DISABILITY, AGE, OR NATIONAL ORIGIN IN THE ADMINISTRATION OF ITS EDUCATIONAL PROGRAMS, ADMISSIONS POLICIES, FINANCIAL AID POLICIES, EMPLOYMENT PRACTICES, OR OTHER SCHOOL-ADMINISTERED PROGRAMS. 22 22 522 200 0 0 7076071 5985737 31373235 33269690 924042 78733 0 0 39373348 39334160 2204716 2401390 0 0 22048099 22777096 0 0 2263664 9963392 11023484 34216207 36201970 5157141 3132190 90396445 99281978 27634298 32369270 62762147 66912708 X CHARLOTTE LATIN SCHOOL'S MISSION IS TO ENCOURAGE INDIVIDUAL DEVELOPMENT AND CIVILITY IN OUR STUDENTS BY INSPIRING THEM TO LEARN, BY ENCOURAGING THEM TO SERVE OTHERS, AND BY OFFERING THEM MANY GROWTH-PROMOTING OPPORTUNITIES. THROUGH A SHARED COMMITMENT TO EXCELLENCE AND CORE VALUES, THE SCHOOL PROVIDES A STRONG SENSE OF COMMUNITY, WHICH VALUES TEACHING AND CELEBRATES LEARNING. LATIN PROMOTES A BALANCED LEARNING ENVIRONMENT THAT IS TRADITIONAL IN DESIGN, BUT INNOVATIVE IN IMPLEMENTATION. INTELLECTUAL DEVELOPMENT IS ENCOURAGED BY TEACHING CRITICAL THINKING SKILLS AND PROVIDING RELEVANT LEARNING EXPERIENCES IN ALL AREAS OF STUDY. 0 0 23774516 2401390 31017914 CLS ENROLLED AND EDUCATED 1,410 STUDENTS IN GRADES TRANSITIONAL KINDERGARTEN THROUGH 12TH GRADE IN THE 2017-2018 SCHOOL YEAR. 1863809 1322114 CLS PROVIDED SPECIAL PROGRAMS, SUCH AS DAY CARE, EXTENDED DAY CARE, SUMMER CAMPS, CLINICS, AND EDUCATIONAL RESOURCES TO STUDENTS IN GRADES PRE-KINDERGARTEN THROUGH 12TH GRADE. 720284 929662 CLS PROVIDED FOOD AND TRANSPORTATION SERVICES TO STUDENTS IN GRADES TRANSITIONAL KINDERGARTEN THROUGH 12TH GRADE. 26358609 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 0 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 72 0 1 522 1 0 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NC X FLETCHER GREGORY 7048467299 9502 PROVIDENCE ROAD CHARLOTTE NC 282778695 JEAN E DAVIS CHAIR 1.00 X X 0 0 0 THAD M SHARRETT VICE CHAIR 1.00 X X 0 0 0 JOYCELYN C LAVELLE SECRETARY 1.00 X X 0 0 0 JOHN G NORMAN TREASURER 1.00 X X 0 0 0 WILLIAM C ADAMS BOARD MEMBER 1.00 X 0 0 0 JOANNE O'BRIEN BEAM BOARD MEMBER 1.00 X 0 0 0 ROBERT G CALTON III BOARD MEMBER 1.00 X 0 0 0 LYNN G CRUTCHFIELD BOARD MEMBER 1.00 X 0 0 0 ADAORA A ERUCHALU BOARD MEMBER 1.00 X 0 0 0 HEATHER S FINKE BOARD MEMBER 1.00 X 0 0 0 DEBBIE S FRAIL BOARD MEMBER 1.00 X 0 0 0 MIKE D FRENO BOARD MEMBER 1.00 X 0 0 0 JOHNATHAN S HALKYARD BOARD MEMBER 1.00 X 0 0 0 COURTNEY P HYDER BOARD MEMBER 1.00 X 0 0 0 KELLY L KATTERHAGEN BOARD MEMBER 1.00 X 0 0 0 JOY M KENEFICK BOARD MEMBER 1.00 X 0 0 0 ERIC J LLOYD BOARD MEMBER 1.00 X 0 0 0 A COY MONK IV BOARD MEMBER 1.00 X 0 0 0 DENNY SMITH O'LEARY BOARD MEMBER 1.00 X 0 0 0 ROBERT A SCHLEUSNER III BOARD MEMBER 1.00 X 0 0 0 WALKER C SIMMONS BOARD MEMBER 1.00 X 0 0 0 R MITCHELL WICKHAM BOARD MEMBER 1.00 X 0 0 0 ARCH N MCINTOSH JR HEADMASTER 50.00 X 439023 0 94874 FLETCHER GREGORY ASSOCIATE HEADMASTER/DIR. OF FINANCE 50.00 X 208378 0 30605 MARK TAYLOE HEAD OF LOWER SCHOOL 50.00 X 158337 0 28812 DANIEL CHAMBERLAIN ASSOCIATE HEADMASTER FOR ACADEMIC AFFAIRS 50.00 X 147643 0 19407 LAWRENCE WALL HEAD OF UPPER SCHOOL 50.00 X 146858 0 19140 DAVID GATOUX ATHLETICS DIRECTOR 50.00 X 132809 0 27210 MARY YORKE OATES DIRECTOR OF ADMISSIONS 50.00 X 122222 0 4525 1355270 0 224573 13 0 1 0 CHOATE CONSTRUCTION COMPANY 2907 PROVIDENCE RD 400 CHARLOTTE NC 28211 CONSTRUCTION/REPAIRS 2595907 LITTLE DIVERSIFIED ARCHITECTURAL CONSULT 5815 WEST PARK DRIVE CHARLOTTE NC 28217 ARCHITECTURAL 442477 JR CREATIVE CONSTRUCTION INC 5215 KODIAK CT CHARLOTTE NC 28215 CONSTRUCTION/REPAIRS 338860 SHOWALTER CONSTRUCTION CO PO BOX 220289 CHARLOTTE NC 28222 CONSTRUCTION/REPAIRS 302824 SSI INC DBA SPENCER STUART PO BOX 98991 CHICAGO IL 60693 IT CONSULTING 208786 70 5985737 824338 5985737 TUITION 900099 31017914 31017914 OTHER AUXILIARY 900099 981030 981030 TRANSPORTATION 900099 549333 549333 SUMMER CAMP REVENUE 900099 546301 546301 EXTENDED CARE 900099 175112 175112 33269690 778654 778654 11938954 11591700 1047175 347254 -1047175 -699921 -699921 39334160 33269690 0 78733 2401390 2401390 795232 620281 127237 47714 17152993 12997244 2926604 1229145 1336066 1012291 227994 95781 2048016 1587873 349395 110748 1444789 1095951 245935 102903 220413 220413 1184252 831070 228712 124470 278313 28455 249858 250679 250679 962288 660259 302029 935217 720284 204806 10127 470414 470414 2315518 1389311 810431 115776 191469 191469 MATERIALS & SUPPLIES 2392854 1823564 569290 REPAIRS & MAINTENANCE 698117 698117 TEACHER RECRUITMENT 397817 397817 PROGRAMS & ASSEMBLIES 138398 118679 19719 587735 210826 199767 177142 36201970 26358609 7579697 2263664 4431994 9047367 11449179 9277023 5573802 6927480 183332 406043 286574 903873 73736435 38232875 31904634 35503560 36359342 37000262 207588 216370 90396445 99281978 2822327 3385067 14714486 14806513 9684296 12787599 413189 1390091 27634298 32369270 X 38881677 43910459 13959716 13069477 9920754 9932772 62762147 66912708 90396445 99281978 3132190 1018371 0 X 0 1 X 1 0 X 1558083 1765903 4863927 7076071 5985737 21249721 1558083 1765903 4863927 7076071 5985737 21249721 712579 20537142 701008 762188 802809 718148 778654 3762807 25012528 152256499 0.82110 0.78060 X 30114563 2105642 1809082 229269 637602 33162416 27891840 162673 3181734 195697 925987 30114563 29012980 508005 -509183 1119962 27891840 29235181 876902 -221579 877524 29012980 25268544 846809 3749560 629732 29235181 0.51780 0.29380 0.18840 0 0 4101641 4101641 57410654 31117200 26293454 10568716 7115675 3453041 1655424 1655424 35503560 DEFERRED COMPENSATION 490462 CAPITAL LEASE OBLIGATION 899629 1390091 X 38777903 1018371 -2401390 -1383019 40160922 220413 -1047175 -826762 39334160 34627342 1047175 1047175 33580167 220413 2401390 2621803 36201970 PART V, LINE 4: ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS, GENERAL OPERATING EXPENSES, AND PROPERTY AND EQUIPMENT IMPROVEMENTS AND UPKEEP. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL AND STATE INCOME TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME UNRELATED TO ITS EXEMPT FUNCTION, IF ANY, IS SUBJECT TO INCOME TAXATION. MANAGEMENT BELIEVES THAT THE SCHOOL CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AND IS NOT SUBJECT TO TAX. NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE SCHOOL FOLLOWS FINANCIAL ACCOUNTING STANDARDS BOARD GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE SCHOOL'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE SCHOOL, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION TAKEN BY MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE SHOWN NET OF REVENUE ON FINANCIALS -2,401,390. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF FIXED ASSETS -1,047,175. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF FIXED ASSETS 1,047,175. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE SHOWN NET OF REVENUE ON FINANCIALS 2,401,390. 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 RACIALLY NON-DISCRIMINATORY POLICY TOWARDS STUDENTS IS PUBLISHED THROUGH A PRINTED STATEMENT OF THE SCHOOL'S ADMINISTRATION POLICY IN A LOCAL NEWSPAPER AND MAGAZINE ADVERTISEMENTS. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES SUMMER TRAVEL PROGRAM FOR STUDENTS 194994 0 0 0 0 0 0 194994 0 194994 0 0 0 0 0 0 PART I, LINE 3: AMOUNTS REPORTED IN PART I, LINE 3 WERE CALCULATED USING THE ACCRUAL METHOD OF ACCOUNTING. 1 SCHOLARSHIPS AND FINANCIAL ASSISTANCE TO STUDENTS 196 256936 2144454 TUITION RATES FINANCIAL AID AND SCHOLARSHIPS PART I, LINE 2: THE PURPOSE OF THE ENDOWED SCHOLARSHIP FUNDS IS TO PROVIDE FINANCIAL AID (FULL OR PARTIAL) FOR A STUDENT WHO, WITHOUT AID, COULD NOT ATTEND CHARLOTTE LATIN SCHOOL. IN ADDITION TO DEMONSTRATING FINANCIAL NEED, RECIPIENTS SHOULD ALSO DEMONSTRATE LEADERSHIP QUALITIES, A COMMITMENT TO HELPING OTHERS, A SENSE OF COMMUNITY, AND AN ENTHUSIASM FOR ACTIVITIES BEYOND THEIR CLASSROOM STUDIES THAT WILL BRING POSITIVE RECOGNITION TO THEM, AND THROUGH THEM, TO THEIR SCHOOL. ALL CANDIDATES MUST FOLLOW STANDARD ADMISSIONS PROCEDURES, INCLUDING TESTING AND INTERVIEWS. SCHOLARSHIPS ARE NEED AND MERIT-BASED. THEREFORE, ACADEMIC PERFORMANCE AND STRONG CITIZENSHIP, AS WELL AS DEMONSTRATED FINANCIAL NEED, WILL BE CONSIDERED. ONCE THE SCHOLARSHIP IS RECEIVED, THE RECIPIENT WILL CONTINUE TO RECEIVE IT FOR HIS OR HER TENURE AT CHARLOTTE LATIN SCHOOL, PROVIDED STANDARD CHARLOTTE LATIN SCHOOL REGULATIONS ARE OBSERVED AND ACADEMIC STANDARDS ARE MET. AMOUNTS RECEIVED FOR TUITION ASSISTANCE OR SCHOLARSHIPS ARE CREDITED DIRECTLY TO THE STUDENTS' ACCOUNTS. X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 ARCH N MCINTOSH JR HEADMASTER 350720 0 30000 0 58303 0 78140 0 16734 0 533897 0 0 0 FLETCHER GREGORY ASSOCIATE HEADMASTER/DIR. OF FINANCE 208378 0 0 0 0 0 23515 0 7090 0 238983 0 0 0 MARK TAYLOE HEAD OF LOWER SCHOOL 143395 0 0 0 14942 0 13581 0 15231 0 187149 0 0 0 DANIEL CHAMBERLAIN ASSOCIATE HEADMASTER FOR ACADEMIC AF 146289 0 0 0 1354 0 6318 0 13089 0 167050 0 0 0 LAWRENCE WALL HEAD OF UPPER SCHOOL 146858 0 0 0 0 0 15052 0 4088 0 165998 0 0 0 DAVID GATOUX ATHLETICS DIRECTOR 132809 0 0 0 0 0 11979 0 15231 0 160019 0 0 0 PART I, LINE 1A ARCH N. MCINTOSH, HEADMASTER, RECEIVED GROSS UP FEDERAL AND STATE TAX FOR REPORTABLE BENEFITS RECEIVED. THESE AMOUNTS ARE TREATED AS TAXABLE COMPENSATION TO THE HEADMASTER. THE SCHOOL ALSO PAYS THE DUES FOR A MEALS-ONLY CLUB WHERE THE HEADMASTER CAN TAKE VARIOUS CONSTITUENTS ON SCHOOL RELATED BUSINESS. A PORTION OF THE CLUB DUES ARE TREATED AS TAXABLE COMPENSATION FOR THE PERSONAL USE OF CLUB FACILITIES. PART I, LINE 4B ARCH N. MCINTOSH, HEADMASTER, HAS A NONQUALIFED DEFERRED COMPENSATION PLAN. THE SCHOOL CONTRIBUTED $50,000 TO THE PLAN DURING THE YEAR. PART I, LINE 7 THE HEADMASTER IS ELIGIBLE FOR AN ANNUAL INCENTIVE BONUS OF UP TO 10% OF THE EMPLOYEE'S ANNUAL SALARY. THE AMOUNT OF THE BONUS IS DETERMINED ON AN ANNUAL BASIS BY THE EXECUTIVE COMMITTEE OF THE BOARD BASED ON THE EMPLOYEE'S PERFORMANCE MEASURED AGAINST THE EMPLOYEE'S PERFORMANCE GOALS FOR THE YEAR. A PUBLIC FINANCE AUTHORITY 273866124 000000000 2017-10-31 29700000 REFUND PRIOR BOND AND NEW CAPITAL IMPROVEMENTS 0 0 0 A 338079 13569039 458651 3347280 9763108 1 0 0 1 A 0 0 0 0 0 0 1 A 0 1 0 0 1 0 0 0 1 A 1 SCHEDULE K, PART I, LINE A, COLUMN (E): THE AMOUNT REPORTED ON PART I, LINE A, COLUMN (E) REFLECTS THE TOTAL BOND PROCEEDS AUTHORIZED IN THE ISSUANCE. THE AMOUNT REFLECTED ON PART II, COLUMN A, LINE 3 REFLECTS THE TOTAL AMOUNT ACTUALLY BORROWED THROUGH 6/30/2018. X 1 3508 FMV X 59 820830 FMV X STROBEL CELLO WITH BOW AND CASE 1 0 N/A X BAILEY TABLE AND WHIRLPOOL 1 0 N/A 0 0 1 0 PART I, LINE 33: THE SCHOOL RECEIVED DONATIONS OF A CELLO, TABLE, AND WHIRLPOOL DURING THE TAX YEAR BUT THESE AMOUNTS WERE NOT VALUED FOR FINANCIAL STATEMENT REPORTING PURPOSES. FORM 990, PART VI, SECTION B, LINE 11B THE 990 DRAFT WILL BE REVIEWED BY THE FINANCE COMMITTEE. IN ORDER TO PROTECT THE PRIVACY OF DONORS, THE PUBLIC DISCLOSURE COPY IS PRESENTED TO THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD ANNUALLY REVIEWS AND SIGNS THE CONFLICT OF INTEREST POLICY AT ITS FIRST MEETING OF THE SCHOOL YEAR. IN THE EVENT THERE IS A CONFLICT DURING THE YEAR, THAT MEMBER WILL RECUSE HIMSELF/HERSELF FROM ANY DISCUSSION OR VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES IS CHARGED WITH THE HEADMASTER'S ANNUAL REVIEW AND, AT CONTRACT TIME, WITH THE CRAFTING OF THE HEADMASTER'S CONTRACT. THE COMMITTEE USES 990 DATA, EXECUTIVE COMPENSATION SURVEY DATA AND NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS) DATA AND INDEX SURVEY DATA TO DETERMINE ITS COMPENSATION PACKAGE FOR THE HEADMASTER. THE DISCUSSIONS ARE DOCUMENTED IN THE MEETING MINUTES. REGARDING OTHER TOP MANAGEMENT OFFICIALS, THE COMPENSATION IS DETERMINED BY THE HEADMASTER. COMPARABLE DATA FROM OTHER LOCAL, SIMILAR SIZED SCHOOLS, COMPENSATION SURVEYS AND DATA FROM NAIS IS USED TO DETERMINE SALARIES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.