2019-05-14T11:50:09-07:00 2018-06-30 990 2017-07-01 560940956 FORSYTH COUNTRY DAY SCHOOL INC FORS 3369453151 P O Box 549 5501 SHALLOWFORD R0AD LEWISVILLE NC 270230549 ANDREA MATNEY CHIEF FINANCIAL OFFICER 3369453151 2019-05-15 24.172.13.66 2017 2019-02-21 02:37:17Z ANDREA M MATNEY PO BOX 549 5501 SHALLOWFORD RD LEWISVILLE NC 270230549 20240430 0 X WWW.FCDS.ORG X 1970 NC FORSYTH COUNTRY DAY SCHOOL IS A COMMUNITY OF LEARNERS DEDICATED TO PREPARING OUR STUDENTS FOR WHAT'S AHEAD. THE VERY CORE OR OUR MISSION AT FORSYTH COUNTRY DAY SCHOOL IS TO PROVIDE EVERY STUDENT WITH A TRULY BALANCED EXPERIENCE, HELPING THEM PREPARE FOR WHAT'S AHEAD. EXPLORATION AND EXCELLENCE COME TOGETHER IN A VIBRANT, DYNAMIC WAY, OFFERING THE BEST OF BOTH WORLDS FOR A COMPLETE EDUCATION. 19 19 348 150 0 0 1222327 1612170 13959922 14638266 1074876 884068 228670 186850 16485795 17321354 1778341 2260571 0 0 9898572 10761863 0 0 610041 4181132 4246393 15858045 17268827 627750 52527 32701220 32324072 22468591 21870355 10232629 10453717 FORSYTH COUNTRY DAY SCHOOL IS A PRIVATE, COLLEGE PREPARATORY INDEPENDENT SCHOOL FOR PRESCHOOL THROUGH HIGH SCHOOL. STUDENTS BENEFIT FROM A CHALLENGING ACADEMIC CURRICULUM, FINE AND PERFORMING ARTS, COMPETITIVE ATHLETICS AND A WIDE SELECTION OF EXTRACURRICULAR ACTIVITIES. 0 0 14068966 2260571 15170385 PROVIDING TRADITIONAL COLLEGE PREPARATORY EDUCATION TO APPROXIMATELY 690 STUDENTS STARTING AT PRESCHOOL THROUGH GRADE TWELVE. 0 0 0 14068966 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 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 29 0 1 348 1 0 0 0 0 0 0 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 1 1 1 1 0 NC X X ANDREA M MATNEY ASSOCIATE HEAD 3369453151 P O Box 549 5501 SHALLOWFORD R0AD LEWISVILLE NC 270230549 JEFF T ANDREWS TRUSTEE 5 0 X 0 0 0 T STEWART BEASON TRUSTEE / CHAIRMAN 5 0 X 0 0 0 BRADFORD P BREITLING TRUSTEE 5 0 X 0 0 0 RANDELL A CAIN TRUSTEE / SECRETARY 5 0 X 0 0 0 E GREER CAWOOD TRUSTEE 5 0 X 0 0 0 CHAD D GREENE TRUSTEE 5 0 X 0 0 0 VANCE L HORNER II TRUSTEE 5 0 X 0 0 0 CHARLES IACOVOU TRUSTEE 5 0 X 0 0 0 ROBERT JOHNSON TRUSTEE 5 0 X 0 0 0 MEREDITH B MASTEN TRUSTEE 5 0 X 0 0 0 KINSEY B MITCHELL TRUSTEE 5 0 X 0 0 0 ELIZABETH L QUICK TRUSTEE 5 0 X 0 0 0 ROB E SHOWFETY TRUSTEE 5 0 X 0 0 0 ALIANA P SINDRAM TRUSTEE 5 0 X 0 0 0 MARGARET D TOWNSEND TRUSTEE 5 0 X 0 0 0 DANIELLE T WILLIAMS TRUSTEE 5 0 X 0 0 0 JOAN WOODARD TRUSTEE / TREASURER 5 0 X 0 0 0 ANH N YOUNG TRUSTEE 5 0 X 0 0 0 GARDNER E BARRIER HEAD OF SCHOOL 55 0 X 349014 0 40080 ANDREA M MATNEY ASSOCIATE HEAD OF SCHOOL FOR FINANCE AND OPERATIONS 55 0 X 176000 0 42432 DENNIS A MOSER LOWER SCHOOL DIRECTOR 50 0 X 104680 0 6368 MARK A PALMER DEVELOPMENT DIRECTOR 50 0 X 123309 0 63164 VINCENT M STUMPO FORMER HEAD OF SCHOOL 0 0 X 354811 0 0 1107814 0 152044 5 1 1 0 FLIK INDEPENDENT SCHOOLS P O BOX 417632 BOSTON MA 022417632 FOOD SERVICE 553153 MAGNOLIA CONSTRUCTION LLC 514 S STRATFORD ROAD SUITE 140 WINSTON SALEM NC 27103 CONSTRUCTION 451487 CENTRAL CAROLINA AIR CONDITIONING 1800-A FAIRFAX ROAD GREENSBORO NC 274170837 HEATING AND AIR 116871 3 0 0 0 0 0 1612170 20204 1612170 TUITION AND FEES 611110 14256689 14256689 0 0 COMMUNITY PROGRAMS 611600 154415 154415 0 0 SUMMER PROGRAMS 611600 110224 110224 0 0 TRANSPORTATION 611710 70716 70716 0 0 INTERNATIONAL SEMESTER INCOME 611600 27300 27300 0 0 18922 18922 0 0 14638266 357051 357051 0 0 0 0 0 0 0 0 0 0 12142 0 360 0 11782 0 11782 0 0 11782 2840174 447868 2346929 414096 493245 33772 527017 0 0 527017 0 0 0 0 0 0 0 0 0 0 0 0 209941 157691 52250 52250 0 0 MULTI-PAYMENT PLAN FEES 611710 73400 73400 0 0 FINANCE CHARGES 611710 29977 29977 0 0 FOOD SERVICE 611710 9425 9425 0 0 10016 10016 0 0 122818 17321354 15170385 0 538799 0 0 2260571 2260571 0 0 0 0 603082 159415 363960 79707 0 0 0 0 7280721 5784527 1164132 332062 338294 270161 52646 15487 1968537 1519395 366235 82907 571229 423509 123443 24277 0 0 0 0 18209 0 18209 0 53650 0 53650 0 0 0 0 0 0 0 42679 0 42679 0 84950 35700 44637 4613 108535 0 93066 15469 369008 241911 104639 22458 180078 175558 3422 1098 0 0 0 0 768262 715644 46026 6592 110858 92279 18104 475 0 0 0 0 60852 55925 4580 347 814278 794066 15300 4912 0 0 0 0 869487 847663 16520 5304 108862 94426 11948 2488 STUDENT PROGRAM ACTIVITIES 282339 282339 0 0 ATHLETICS 82840 82840 0 0 LOSS ON UNCONDITIONAL PROMISES TO GIVE 77702 77702 0 0 AUXILIARY EXPENSES 65592 65592 0 0 148212 89743 46624 11845 17268827 14068966 2589820 610041 2617413 3046345 0 0 189854 367517 163377 156757 0 0 0 0 0 0 137708 131526 117140 122521 42906750 26516369 17100887 16390381 12374841 12109025 0 0 0 0 0 0 0 0 32701220 32324072 1259255 1064214 0 0 3630269 4285548 16520102 15535706 0 0 0 0 286109 203249 0 0 772856 781638 22468591 21870355 X 6687706 6680133 1188870 1355133 2356053 2418451 10232629 10453717 32701220 32324072 X 52527 -126111 0 0 0 294672 X 0 1 X 1 0 X 11014693 54099 719124 0 1079971 0 10707945 10804666 31200 1219272 0 1040455 0 11014683 11707372 5100 -37375 0 870431 0 10804666 11744382 4600 363155 0 404765 0 11707372 11373256 1100 1507675 0 1137649 0 11744382 0.728 0.225 0.047 0 0 0 2022107 2022107 0 26463298 13079933 13383365 0 0 0 0 0 9021789 8608663 413126 0 5399556 4827773 571783 16390381 0 SWAP PAYABLE 677804 AGENCY FUNDS 103834 781638 X 15350582 -126111 0 0 449682 323571 15027011 0 2294343 2294343 17321354 15129494 0 0 0 155010 155010 14974484 0 2294343 2294343 17268827 Schedule D, Part V, Line 4 ENDOWMENT FUNDS INTENDED USES: FORSYTH COUNTRY DAY SCHOOL'S ENDOWMENT CONSISTS OF APPROXIMATELY 23 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES, INCLUDING OPERATION, FINANCIAL AND PROFESSIONAL DEVELOPMENT, FACULTY COMPENSATION, SPEAKERS, PERFORMING ARTS, MATH COMPETITION, STUDENT ACTIVITIES AND UNRESTRICTED PURPOSES. Schedule D, Part X, Line 2 FIN 48 FOOTNOTE - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - TAX STATUS: "THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(c)(3) OF THE INTERNAL REVENUE CODE, ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE SCHOOL HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JUNE 30, 2018. Schedule D, Part XI, Line 2d OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 294,672, BOOKSTORE COST OF GOODS SOLD 154,650 AND RENTAL EXPENSES 360. TOTAL 449,682 Schedule D, Part XI, Line 4b OTHER ADJUSTMENTS: FINANCIAL AID 2,260,571 AND GAIN ON DISPOSAL OF FIXED ASSETS 33,772. TOTAL 2,294,343. Schedule D, Part XII, Line 2d OTHER ADJUSTMENTS: BOOKSTORE COST OF GOOD SOLD 154,650 AND RENTAL EXPENSES 360. TOTAL 155,010. Schedule D, Part XII, Line 4b OTHER ADJUSTMENTS: FINANCIAL AID 2,260,571 AND GAIN ON DISPOSAL OF FIXED ASSETS 33,772. TOTAL 2,294,343. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 FORSYTH COUNTRY DAY SCHOOL'S RACIALLY NON-DISCRIMINATORY POLICY TOWARDS STUDENTS IS PUBLISHED THROUGH A PRINTED STATEMENT OF THE SCHOOL'S ADMINISTRATIVE POLICY IN LOCAL NEWSPAPERS, MAGAZINES, WEB-SITE, SOCIAL MEDIA, CATALOGS AND BROCHURES, EDUCATIONAL POLICIES AND SCHOOL ADMINISTERED PROGRAMS 1 FINANCIAL AID TO STUDENTS OF THE SCHOOL 198 2260571 0 FMV Schedule I, Part I, Line 2 FORSYTH COUNTRY DAY SCHOOL'S FINANCIAL AID TO THE 198 STUDENTS AWARDED ASSISTANCE IS DIRECTLY APPLIED TO EACH STUDENT'S BILLING ACCOUNT TO OFFSET TUITION. X X 1 1 X X X X 1 1 0 0 0 0 0 0 1 0 GARDNER E BARRIER HEAD OF SCHOOL 240552 0 17000 0 91462 0 15150 0 24930 0 389094 0 0 0 ANDREA M MATNEY ASSOCIATE HEAD OF SCHOOL FOR FINANCE AND OPERATIONS 149152 0 0 0 26848 0 8954 0 33478 0 218432 0 10000 0 MARK A PALMER DEVELOPMENT DIRECTOR 102917 0 20000 0 392 0 0 0 63164 0 186473 0 0 0 VINCENT M STUMPO FORMER HEAD OF SCHOOL 350000 0 0 0 4811 0 0 0 0 0 354811 0 0 0 Schedule J, Part I, Line 1a COUNTRY CLUB DUES PAID ON BEHALF OF THE HEAD OF SCHOOL, PURSUANT TO HIS EMPLOYMENT AGREEMENT IS INCLUDED IN TAXABLE WAGES, AS WELL AS ON SCHEDULE J, PART II. GROSS UP PAYMENTS ON BEHALF OF THE HEAD OF SCHOOL, PURSUANT TO HIS EMPLOYMENT AGREEMENT ARE INCLUDED IN TAXABLE WAGES AS WELL AS ON SCHEDULE J, PART II. Schedule J, Part I, Line 3 HEAD OF SCHOOL COMPENSATION: THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND DECIDES UPON THE COMPENSATION FOR THE HEAD OF SCHOOL. COMPARATIVE DATA WAS ANALYZED AT THE TIME OF THE MOST RECENT HIRE OF THE HEAD OF SCHOOL. Schedule J, Part I, Line 4 a.) THE FORMER HEAD OF SCHOOL RECEIVED A SEVERANCE PAYOUT IN THE AMOUNT OF $350,000. b.)THE HEAD OF SCHOOL AND THE ASSOCIATE HEAD OF SCHOOL FOR FINANCE AND OPERATIONS PARTICIPATED IN A SECTION 457(f) PLAN. THE HEAD OF SCHOOL RECEIVED A PAY-OUT OF HIS DEFERRED COMPENSATION IN THE AMOUNT OF $30,000 DURING THE CALENDAR YEAR 2017, NONE OF WHICH WAS PREVIOUSLY REPORTED ON SCHEDULE J, PART II. THE ASSOCIATE HEAD OF SCHOOL FOR FINANCE AND OPERATIONS RECEIVED A PAY-OUT OF HER DEFERRED COMPENSATION IN THE AMOUNT OF $20,000 DURING THE CALENDAR YEAR 2017, $10,000 OF WHICH WAS PREVIOUSLY REPORTED ON SCHEDULE J, PART II. Schedule J, Part I, Line 8 BASE COMPENSATION FOR THE HEAD OF SCHOOL AND FORMER HEAD OF SCHOOL INCLUDES SALARY PAYMENTS MADE PURSUANT TO THEIR INITIAL CONTRACTS WITH THE SCHOOL,THAT ARE CONSIDERED SUBJECT TO THE INITIAL CONTRACT EXCEPTION DESCRIBED IN REGULATIONS SECTION 53.4958-4(a)(3). A PUBLIC FINANCE AUTHORITY 273866124 2018-05-15 16065000 PRIOR CONSTRUCTION BOND ISSUE REDEMPTION 0 0 0 A 15865835 0 16065000 0 0 0 199165 0 0 0 0 0 2005 1 0 1 1 A 0 0 1 1 0 0 0 0 0 0 1 A 0 0 1 0 1 1 BB&T 5 0 0 0 0 1 A 1 X 10 16004 FMV X DIMENSIONAL SIGNAGE 1 3200 FMV X VIDEO DRONE 1 1000 FMV 0 0 1 0 Form 990, Part VI, Section A, Line 9 VINCENT M STUMPO, THE FORMER HEAD OF SCHOOL, CANNOT BE REACHED AT THE SCHOOL'S MAILING ADDRESS. HIS CURRENT ADDRESS IS 2820 CREEKFIELD WAY, WINSTON-SALEM, NC 27106. Form 990, Part VI, Section B, Line 11b FORM 990 REVIEW: A COPY OF THE FORM 990 IS DISTRIBUTED TO EACH VOTING MEMBER OF THE BOARD OF TRUSTEES, INCLUDING THE FINANCE COMMITTEE, PRIOR TO THE FILING OF THE 990. THE 990 IS REVIEWED AND SIGNED BY THE ASSOCIATE HEAD OF SCHOOL FOR FINANCE AND OPERATIONS, WHO IS AN OFFICER OF THE SCHOOL. Form 990, Part VI, Section B, Line 12c CONFLICT OF INTEREST POLICY: THE BOARD MAINTAINS A CONFLICT OF INTEREST POLICY THAT IS REVIEWED, ACCEPTED AND SIGNED BY EACH OFFICER AND VOTING BOARD MEMBER ON AN ANNUAL BASIS. IF AN ISSUE IS TO BE DECIDED BY THE BOARD THAT INVOLVES A POTENTIAL CONFLICT OF INTEREST FOR A BOARD MEMBER OR OTHER INTERESTED PERSON, IT IS THE RESPONSIBILITY OF THE BOARD MEMBER OR OTHER INTERESTED PERSON TO DISCLOSE ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. IF IT IS UNCLEAR AS TO WHETHER A CONFLICT EXISTS, THE CHAIRMAN OF THE BOARD WILL MAKE THE FINAL DECISION. A PERSON WITH A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN OR BE PERMITTED TO HEAR THE BOARD'S OR COMMITTEE'S DISCUSSION OF THE MATTER AND SHALL NOT PARTICIPATE IN OR BE PERMITTED TO HEAR THE BOARD'S OR COMMITTEE'S DISCUSSION OF THE MATTER AND SHALL NOT VOTE ON A CONTRACT OR TRANSACTION INVOLVING THE CONFLICT OR BE PRESENT DURING THE VOTING PROCESS. Form 990, Part VI, Section B, Line 15 COMPENSATION: THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND DECIDES UPON THE COMPENSATION FOR THE HEAD OF SCHOOL. THE COMPENSATION COMMITTEE PROVIDES AN UPDATE TO THE FULL BOARD OF TRUSTEES ON ITS DECISIONS. COMPARATIVE DATA WAS ANALYZED AT THE TIME OF THE MOST RECENT HIRE OF THE HEAD OF SCHOOL. THE HEAD OF SCHOOL SETS THE COMPENSATION FOR ALL OTHER TOP MANAGEMENT USING COMPARATIVE DATA FROM THE NAIS. Form 990, Part VI, Section C, Line 19 DISCLOSURE: FORSYTH COUNTRY DAY SCHOOL'S ORGANIZATIONAL DOCUMENTS, CONFLICT OF INTEREST POLICY AND SUMMARY FINANCIAL STATEMENT INFORMATION IS PROVIDED ON THE SCHOOL'S WEBSITE. Form 990, Part XI, Line 9 OTHER CHANGES IN NET ASSETS: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 294,672.