2019-05-10T08:42:24-05:00 2018-06-30 061009205 BLUM SHAPIRO & COMPANY PC ONE INTERNATIONAL PLACE 16TH FL BOSTON MA 02110 990 2017-07-01 060910420 CHOATE ROSEMARY HALL FOUNDATION INCORPORATED CHOA 2036972676 333 CHRISTIAN STREET WALLINGFORD CT 064923818 WALTER SCHAEFFLER CHIEF FINANCIAL OFFICER 2036972676 2019-05-10 1 LAURA J KENNEY P00202198 6177170831 2019-05-10 64.251.63.131 2019-05-10 08:33:52 ED P AE4F84C66CF7EFD26554BEC15325CB8203138E58 212D4AA7D86991E97AAA9C7923B382683810470F 2017 2019-02-21 02:37:17Z CHOATE ROSEMARY HALL ALEXANDER CURTIS 333 CHRISTIAN STREET WALLINGFORD CT 064923818 102338293 0 X WWW.CHOATE.EDU X 1974 CT TO PROVIDE A QUALITY SECONDARY INDEPENDENT SCHOOL EDUCATION TO APPROXIMATELY 859 STUDENTS PER YEAR. 22 21 701 600 -223999 -483985 36334503 37816116 51444530 52126904 8390997 11786815 -121797 192220 96048233 101922055 11633327 11895799 0 0 33591794 35212149 0 0 3586443 40340254 41508377 85565375 88616325 10482858 13305730 613932030 650821486 66657793 62471929 547274237 588349557 X TO PROVIDE A QUALITY SECONDARY INDEPENDENT SCHOOL EDUCATION TO APPROXIMATELY 859 STUDENTS PER YEAR. 0 0 28077014 52126904 THE SCHOOL EDUCATES (ACADEMICALLY, RESIDENTIALLY AND ATHLETICALLY) APPROXIMATELY 859 STUDENTS, GENERATING OVER $35 MILLION OF NET TUITION AND FEES, THROUGH THE EFFORTS OF DEDICATED FACULTY AND SUPPORT. 16841290 THE SCHOOL MAINTAINS ABOUT 1.3 MILLION SQUARE FEET OF RESIDENTIAL, ACADEMIC AND ATHLETIC SPACE FOR A COMMUNITY OF OVER 1,000 MEMBERS. THE MAJORITY OF THIS EXPENSE REFLECTS THE DEPRECIATION ON THE SCHOOL PROPERTY, PLANT AND EQUIPMENT, WHICH HAS A CURRENT ACCOUNTING VALUE OF $157.1 MILLION. 11895799 11895799 THE SCHOOL DISCOUNTS TUITION IN THE FORM OF FINANCIAL AID AT AN APPROXIMATE RATE OF 25% IN AN EFFORT TO RECRUIT AND RETAIN THE MOST TALENTED STUDENT BODY. THE SCHOOL RECOGNIZES THAT A DIVERSE STUDENT BODY BETTERS THE OVERALL EXPERIENCE FOR ALL INVOLVED, AND THAT WHILE NOT EVERYONE CAN CONTRIBUTE FINANCIALLY IN TERMS OF TUITION, EVERYONE HAS SOMETHING TO OFFER THE CHOATE ROSEMARY HALL COMMUNITY. 5673238 MANAGEMENT FEES FOR FOOD SERVICE AND HOUSEKEEPING EXPENSES 1720867 TRAVEL AND CONFERENCE EXPENSES 2500776 OFFICE AND INFORMATION TECHNOLOGY EXPENSES 3658978 ALL OTHER PROGRAM RELATED EXPENSES, INCLUDING ADVERTISING, ROYALTIES, INTEREST PAYMENTS, OUTSIDE RENTALS, ETC. 13553859 70367962 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 0 0 1 241 0 1 701 1 1 1 1 SP FR 0 0 0 0 0 0 0 0 X 22 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X HEATHER LAFONTAINE 2036972676 333 CHRISTIAN STREET WALLINGFORD CT 06492 ALEXANDER D CURTIS HEADMASTER 60.00 X X 442930 0 249689 ALEXANDRA B AIRTH TRUSTEE 2.00 X 0 0 0 KENNETH G BARTELS TRUSTEE 2.00 X 0 0 0 SAMUEL P BARTLETT TRUSTEE 2.00 X 0 0 0 PEGGY BRIM BEWKES TRUSTEE 2.00 X 0 0 0 MICHAEL J CARR TRUSTEE 2.00 X 0 0 0 GEORGE F COLONY TRUSTEE 2.00 X 0 0 0 BORJE E EKHOLM TRUSTEE 2.00 X 0 0 0 GUNTHER S HAMM TRUSTEE 2.00 X 0 0 0 LINDA J HODGE TRUSTEE 2.00 X 0 0 0 JUNGWOOK RYAN HONG TRUSTEE 2.00 X 0 0 0 PARISA N JAFFER TRUSTEE 2.00 X 0 0 0 BRETT M JOHNSON TRUSTEE 2.00 X 0 0 0 DANIEL G KELLY TRUSTEE 2.00 X 0 0 0 VANESSA KONG KERZNER TRUSTEE 2.00 X 0 0 0 CECELIA M KURZMAN TRUSTEE 2.00 X 0 0 0 GRETCHEN COOPER LEACH TRUSTEE 2.00 X 0 0 0 JAMES A LEBOVITZ TRUSTEE 2.00 X 0 0 0 TAKASHI MURATA TRUSTEE 2.00 X 0 0 0 TAL H NAZER TRUSTEE 2.00 X 0 0 0 PETER B ORTHWEIN TRUSTEE 2.00 X 0 0 0 M ANNE SA'ADAH TRUSTEE 2.00 X 0 0 0 RICHARD SALTZ CFO 60.00 X 268594 0 80335 DANIEL COURCEY EXEC DIR OF DEVELOPMENT 60.00 X 348088 0 189803 JASON RAITI CIO 40.00 X 302878 0 58113 KATHLEEN WALLACE ASSOCIATE HEADMASTER 40.00 X 209048 0 29494 CHRISTOPHER DIAMOND DIR. OF HEALTH CENTER 60.00 X 182035 0 72490 AMIN GONZALEZ DIRECTOR OF ADMISSION 60.00 X 157064 0 68777 ALISON CADY DIR OF STRATEGIC PLANNING & MARKETING 60.00 X 150638 0 66651 KATHRYN LEVESQUE DEAN OF FACULTY 60.00 X 155176 0 48141 2216451 0 863493 27 0 1 0 SHAWMUT DESIGN AND CONSTRUCTION 560 HARRISON AVE SUITE 200 BOSTON MA 02118 CONSTRUCTION 7914985 SAGE DINING SERVICES 1402 YORK ROAD SUITE 100 LUTHERVILLE MD 21093 FOOD SERVICE 2260493 COVINGTON & BURLING LLP 1 CITY CENTER 850 TENTH ST NW WASHINGTION DC 20001 LEGAL SERVICES 2185908 ABM JANITORIAL SERVICES PO BOX 419860 BOSTON MA 022419860 CAMPUS JANITORIAL SERVICES 1905813 ROPES & GRAY MAIL CODE 1104 PO BOX 11839 NEWARK NJ 07101 LEGAL SERVICES 1714646 33 37816116 14962465 37816116 TUITION AND FEES 611710 46906840 46906840 SUMMER PROGRAMS 611710 4006941 4006941 STUDENT ACTIVITIES 611710 369116 369116 APPLICATION FEES 611710 248736 248736 INFIRMARY/COUNSELING 611710 113010 113010 482261 482261 52126904 3301550 -751916 4053466 8485265 0 8485265 8485265 279606 8205659 360147 416238 -56091 -56091 RINK RENTALS 900099 157263 157263 OUTSIDE EVENT RENTALS 900099 91048 91048 248311 101922055 52126904 -223999 12203034 11895799 11895799 1970688 163818 865385 941485 63262 25197 25377 12688 23527264 20319803 1817081 1390380 3196804 2700629 281685 214490 4684034 3397496 1178991 107547 1770097 1470071 164267 135759 5785290 5673238 94908 17144 4365542 4365542 99571 99571 4162907 4162907 2279055 1798655 228770 251630 70706 19547 51095 64 2782457 2163276 587757 31424 398609 337500 61008 101 6931 6931 1941579 1810208 112583 18788 1736928 1516936 41617 178375 225919 203931 7081 14907 1348363 1297125 37889 13349 11873167 11338162 417461 117544 1218602 1166805 30199 21598 MAINTENANCE & REPAIR 2526916 2526115 801 OUTSIDE RENTALS 208009 148878 1397 57734 MINOR EQUIP. PURCHASE 186179 163981 16850 5348 GIFTS & RECOGNITION 138735 87910 10919 39906 152912 135951 779 16182 88616325 70367962 14661920 3586443 19202258 21640509 37015429 36045849 54728 45750 69191 0 176729 54501 2840429 3185182 300655741 143513333 156205436 157142408 85664769 61340518 312385256 371154121 317805 212648 613932030 650821486 6342230 6301601 15400827 14596397 34025000 32975000 10889736 8598931 66657793 62471929 X 228648732 245016339 184456357 197121400 134169148 146211818 547274237 588349557 613932030 650821486 X 13305730 26344498 1425092 X X 0 1 X 1 0 X 24299117 18189969 29619465 36334503 37816116 146259170 24299117 18189969 29619465 36334503 37816116 146259170 14287599 131971571 1706377 2156109 1972367 3256158 3392629 12483640 158742810 251356470 0.83140 0.87280 X 0 371271117 6715201 37250437 21216425 4692138 389328192 343101418 2923744 51360514 21774259 4340300 371271117 353608160 7520998 -120848 15372945 2533947 343101418 356726590 4860464 9114022 14164319 2928597 353608160 317866454 7947370 48057826 13240358 3904702 356726590 0.29000 0.36000 0.35000 0 0 2622278 2622278 246107688 115005288 131102400 25072020 19872016 5200004 26853755 8636029 18217726 157142408 ALTERNATIVE INVESTMENTS 361191291 F SPLIT INTEREST AGREEMENTS 9962830 F 371154121 LIABILITY UNDER SPLIT-INTEREST AGREEMENTS 3353491 AGENCY FUNDS 180892 INTEREST RATE SWAP VALUATION 5064548 8598931 111760778 26344498 82162 26426660 85334118 4692138 11895799 16587937 101922055 72613668 585280 585280 72028388 4692138 11895799 16587937 88616325 PART V, LINE 4: THE INTENDED USE OF THE ENDOWMENT FUNDS IS TO SUPPORT THE ORGANIZATION'S MISSION OF PROVIDING A QUALITY EDUCATION TO STUDENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST OBLIGATIONS 220,700. BENEFITS PAID ON ANNUITY OBLIGATIONS -503,118. POSTAGE RECHARGE -51,658. COST OF GOODS SOLD RECLASS 416,238. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID RECLASS 11,895,799. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD RECLASS 416,238. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 220,700. POSTAGE RECHARGE -51,658. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID RECLASS 11,895,799. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 A STATEMENT OF CHOATE'S NON-DISCRIMINATION POLICY IS INCLUDED IN ALL BROCHURES AND CATALOGS PERTAINING TO APPLICATIONS, FINANCIAL AID AND ENROLLMENT MATERIALS UTILIZED DURING STUDENT RECRUITMENT, MATRICULATION AND RE-ENROLLMENT. IT IS POSTED IN MULTIPLE LOCATIONS ON OUR WEBSITE, AND IS SHARED WITH ALL PROSPECTIVE DOMESTIC AND INTERNATIONAL CONSTITUENCIES. EUROPE 0 2 PROGRAM SERVICES STUDY ABROAD PROGRAM 445232 EAST ASIA AND THE PACIFIC 0 1 PROGRAM SERVICES STUDY ABROAD PROGRAM 100721 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 99120984 EUROPE 0 0 INVESTMENTS 2540921 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 69597 0 3 0 0 0 3 102277455 0 102277455 1 0 1 1 1 0 1 FINANCIAL AID - REGULAR SESSION 262 11426003 FINANCIAL AID-REDUCTION IN TUITION FINANCIAL AID - SUMMER SESSION 99 469796 FINANCIAL AID-REDUCTION IN TUITION PART III, LINE 1: FINANCIAL AID IS AWARDED IN AN OBJECTIVE AND NONDISCRIMINATORY MANNER. X X X X 0 1 X X X 0 1 0 0 0 0 0 0 0 ALEXANDER D CURTIS HEADMASTER 425909 0 0 0 17021 0 133500 0 116189 0 692619 0 0 0 RICHARD SALTZ CFO 266504 0 0 0 2090 0 40500 0 39835 0 348929 0 0 0 DANIEL COURCEY EXEC DIR OF DEVELOPMENT 341200 0 0 0 6888 0 101960 0 87843 0 537891 0 0 0 JASON RAITI CIO 302216 0 0 0 662 0 40500 0 17613 0 360991 0 0 0 KATHLEEN WALLACE ASSOCIATE HEADMASTER 206625 0 0 0 2423 0 29494 0 0 0 238542 0 0 0 CHRISTOPHER DIAMOND DIR. OF HEALTH CENTER 181315 0 0 0 720 0 28227 0 44263 0 254525 0 0 0 AMIN GONZALEZ DIRECTOR OF ADMISSION 156559 0 0 0 505 0 24514 0 44263 0 225841 0 0 0 ALISON CADY DIR OF STRATEGIC PLANNING & MARKETIN 150166 0 0 0 472 0 22388 0 44263 0 217289 0 0 0 KATHRYN LEVESQUE DEAN OF FACULTY 153275 0 0 0 1901 0 21491 0 26650 0 203317 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL IS ALLOWED FIRST CLASS TRAVEL UNDER LIMITED CIRCUMSTANCES CONNECTED TO SCHEDULE AND DISTANCE TRAVELED. THE HEAD OF SCHOOL AND EXECUTIVE DIRECTOR OF DEVELOPMENT RECEIVED A GROSS UP BENEFIT ASSOCIATED WITH LOAN REPAYMENTS. FACULTY RECEIVE HOUSING IN ACCORDANCE WITH THE SCHOOL'S HOUSING POLICY. THE SCHOOL'S SENIOR LEADERSHIP AND FACULTY RESIDE ON CAMPUS AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER. THE VALUE OF HOUSING IS REPORTED IN SCHEDULE J, PART II, COLUMN (D) AND IS TREATED AS NON-TAXABLE. ALL FACULTY ARE REQUIRED TO PROVIDE SERVICES TOWARD THE RESIDENTIAL LIFE PROGRAM AT CHOATE ROSEMARY HALL. THE SCHOOL DOES NOT REIMBURSE EXPENSES FOR HOUSING AND PERSONAL SERVICES. THE HEAD OF SCHOOL RESIDENCE RECEIVES HOUSEKEEPING SERVICES IN CONNECTION WITH ITS REGULAR USE FOR SCHOOL EVENTS. PART I, LINE 1B THE SCHOOL REQUIRES THAT ITS SENIOR LEADERSHIP RESIDE ON CAMPUS AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER. ALL FACULTY ARE REQUIRED TO PROVIDE SERVICES TOWARD THE RESIDENTIAL LIFE PROGRAM AT CHOATE ROSEMARY HALL. THE SCHOOL DOES NOT REIMBURSE EXPENSES FOR HOUSING AND PERSONAL SERVICES. FACULTY RECEIVE HOUSING AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER AND IN ACCORDANCE WITH THE SCHOOL'S FACULTY HOUSING POLICY. PART I, LINE 4B THE HEAD OF SCHOOL AND EXECUTIVE DIRECTOR OF DEVELOPMENT PARTICIPATE IN A 457(F) PLAN WITH SUBSTANTIAL RISK OF FORFEITURE. A CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 060806186 20774YUT2 2015-03-27 36110000 SERIES E BONDS WERE ISSUED TO REFINANCE SERIES D BONDS 0 0 0 A 3135000 36110000 36110000 2008 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 BARCLAY'S 20.000000000000 1 0 0 0 1 A 1 HEATHER COURCEY KEY EMPLOYEE'S SPOUSE 12509 EMPLOYMENT 0 ELIZABETH FECKO-CURTIS OFFICER'S SPOUSE 50753 EMPLOYMENT 0 X 42 14962465 FMV 0 1 0 PART I, COLUMN (B): THE NUMBER OF DONATIONS OF PUBLICLY TRADED STOCK REPRESENTS THE NUMBER OF CONTRIBUTIONS RECEIVED. FORM 990, PART VI, SECTION B, LINE 11B THE MANAGEMENT OF THE SCHOOL DISTRIBUTES THE DRAFT COPY OF THE FORM 990 TO THE ENTIRE BOARD OF TRUSTEES. MANAGEMENT IS AVAILABLE FOR ANY QUESTIONS BOARD MEMBERS MAY HAVE. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL'S AUDIT COMMITTEE DOES AN INVENTORY OF EACH RESPONDENT'S CONFLICT OF INTEREST QUESTIONNAIRE BEFORE EACH APRIL MEETING. THE AUDIT COMMITTEE ENSURES THERE IS A 100% RESPONSE RATE. THE TRUSTEESHIP COMMITTEE FOLLOWS UP ON CONFLICTS THAT ARE DISCLOSED, IF ANY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES MEETS ONCE A YEAR TO DISCUSS AND REVIEW THE HEAD OF SCHOOL'S AND SENIOR ADMINISTRATORS' COMPENSATION. THE CFO PROVIDES COMPENSATION HISTORY AND COMPARISONS FROM ABOPS AND/OR NACUBO OR OTHER THIRD PARTY SOURCES TO THE COMMITTEE FOR THE HEAD OF SCHOOL AND SENIOR ADMINISTRATORS AND MAKES A RECOMMENDATION OF INCREASES BASED ON FACULTY COMPENSATION POOL (PERCENT OF INCREASE). THE DELIBERATIONS AND DECISIONS REGARDING COMPENSATION ARE DOCUMENTED. FROM TIME-TO-TIME, A PRIVATE CONSULTANT IS CONTRACTED TO PERFORM INDEPENDENT ANALYSIS OF COMPENSATION PACKAGES AND ENSURE COMPLIANCE WITH IRS REGULATIONS OF THE INTERMEDIATE SANCTIONS ACT AND REBUTTABLE PRESUMPTION OF REASONABLENESS TESTS. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS FORM 990 AND AUDITED FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. THE SCHOOL DOES NOT MAKE ITS GOVERNING DOCUMENTS OR ITS CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: BENEFITS PAID ON ANNUITY OBLIGATIONS -503,118. UNREALIZED GAIN ON INTEREST RATE SWAP 1,928,210. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS AN AUDIT COMMITTEE WHICH OVERSEES THE WORK OF ITS INDEPENDENT ACCOUNTANTS, AND IS RESPONSIBLE FOR THEIR SELECTION. CHARITABLE REMAINDER TRUST (1) CHARITABLE TRUST CT N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0