2018-05-08T10:29:33-05:00 2017-06-30 061009205 BLUM SHAPIRO & COMPANY PC ONE INTERNATIONAL PLACE 16TH FLOOR BOSTON MA 02128 990 2016-07-01 060646687 KENT SCHOOL KENT 8609276046 PO BOX 2006 KENT CT 06757 JEFFREY D CATALDO ASSISTANT TREASURER & CFO 8609276046 2018-05-03 1 LAURA J KENNEY P00202198 6172211944 2018-05-03 2016 2022-09-23 18:48:47Z JEFFREY D CATALDO PO BOX 2006 KENT CT 06757 48904098 0 X WWW.KENT-SCHOOL.EDU X 1906 CT NON-PROFIT, INDEPENDENT, PREPATORY SCHOOL; EDUCATING APP. 520 BOARDING AND 50 DAY STUDENTS. 29 28 297 40 -35256 -135877 3606371 7589153 34080070 36048156 3130411 3013692 100770 67466 40917622 46718467 7517025 7846179 0 0 17730947 18080274 0 0 1746304 14648068 14930606 39896040 40857059 1021582 5861408 158204320 174337394 51776774 53939280 106427546 120398114 ESTABLISH AND MAINTAIN A SCHOOL WHICH SHALL PROVIDE FOR BOYS AND GIRLS OF ABILITY AND CHARACTER AN ACADEMIC COURSE OF INSTRUCTION. SIMPLICITY OF LIFE, SELF-RELIANCE, AND DIRECTNESS OF PURPOSE ARE TO BE ESPECIALLY ENCOURAGED. 0 0 34152195 7846179 36048156 INDEPENDENT, CO-EDUCATIONAL PREPATORY SCHOOL; EDUCATING BOTH BOARDING AND DAY STUDENTS. SIMPLICITY OF LIFE, SELF-RELIANCE AND DIRECTNESS OF PURPOSE ARE TO BE ESPECIALLY ENCOURAGED IN BOTH BOY AND GIRL STUDENTS. 34152195 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 1 1 0 0 0 1 75 0 1 297 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 X 29 28 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X JEFFREY D CATALDO BUSINESS MGR CFO & ASST TREASURER 8609276046 PO BOX 2006 KENT CT 067570640 DAVID C CLAPP VICE PRESIDENT & TRUSTEE 2.00 X X 0 0 0 ROBERT S ANDERSON TREASURER & TRUSTEE 2.00 X X 0 0 0 ANDREW A BOGLE TRUSTEE 2.00 X 0 0 0 FREDERIC A BOURKE III TRUSTEE 2.00 X 0 0 0 JOHN HARVEY TRUSTEE 2.00 X 0 0 0 WILLIAM G CAREY III TRUSTEE 2.00 X 0 0 0 SIR RICHARD B DEARLOVE TRUSTEE 2.00 X 0 0 0 ALICE C FRELINGHUYSEN TRUSTEE 2.00 X 0 0 0 PETER W GETSINGER TRUSTEE 2.00 X 0 0 0 ROBERT F HOERLE TRUSTEE 2.00 X 0 0 0 HENRIK VANDERLIP TRUSTEE 2.00 X 0 0 0 HELEN M PARDOE TRUSTEE 2.00 X 0 0 0 WILLIAM C PETTY III TRUSTEE 2.00 X 0 0 0 LORD JONATHAN ROTHERMERE TRUSTEE 2.00 X 0 0 0 LYNN DOE SHIPWAY TRUSTEE 2.00 X 0 0 0 BRUCE N WHITMAN TRUSTEE 2.00 X 0 0 0 KIMBERLY BRAINARD NAYLOR TRUSTEE 2.00 X 0 0 0 RENE A LACERTE TRUSTEE 2.00 X 0 0 0 WILLIAM W WURTS TRUSTEE 2.00 X 0 0 0 BENJAMIN WARING PARTRIDGE IV PRESIDENT & TRUSTEE 2.00 X X 0 0 0 MAGALEN C WEBERT TRUSTEE 2.00 X 0 0 0 N ROGAN DONELLY TRUSTEE 2.00 X 0 0 0 DR ERNEST W FRANKLIN IV TRUSTEE 2.00 X 0 0 0 AMY MACARTNEY FREIDENRICH TRUSTEE 2.00 X 0 0 0 JAMES A LAWRENCE TRUSTEE 2.00 X 0 0 0 JAMES MCNULTY TRUSTEE 2.00 X 0 0 0 HAKAN N WOHLIN TRUSTEE 2.00 X 0 0 0 DONALD J HERREMA TRUSTEE 2.00 X 0 0 0 ANN DICKINSON TRUSTEE 2.00 X 0 0 0 RICHARDSON W SCHELL SECRETARY & HEADMASTER 60.00 X 412214 0 137646 JEFFREY D CATALDO ASST. TREASURER & CFO 50.00 X 253831 0 114505 KATHY NADIRE ASST. SECRETARY AND DIR OF DEVELOPMENT 50.00 X 122856 0 31783 ADAM FISCHER FUNDRAISER 50.00 X 132453 0 29094 CATHERINE MAZZA DEAN OF STUDENTS 50.00 X 124108 0 71958 TODD MARBLE DIRECTOR OF ATHLETICS 50.00 X 110298 0 36839 SARAH ROSS DIRECTOR OF ADMISSIONS 50.00 X 136980 0 48030 DIANA YAMMIN DIRECTOR OF STUDIES 50.00 X 111471 0 17357 MARC CLOUTIER FORMER OFFICER 0.00 X 102921 0 64066 1507132 0 551278 9 1 1 0 ABM JANITORIAL SERVICES PO BOX 1534 NEW YORK NY 10008 CLEANING SERVICE 826013 US FOODSERVICE PO BOX 642554 PITTSBURGH PA 15264 FOOD DISTRIBUTOR 758677 BOTTINI FUEL OIL 2785 WEST MAIN ST WAPPINGERS FALLS NY 12590 HEATING OIL 680572 SIEMENS INDUSTRY PO BOX 2134 CAROL STREAM IL 60132 SECURITY INSTALLATION 341144 WILLIAM C GAWEL PO BOX 31 KENT CT 06575 EXCAVATION & SNOW REMOVAL 147276 9 7589153 2663511 7589153 TUITION & RELATED SERV. 611710 35410099 35410099 OTHER PROGRAM RELATED FEES 611710 482253 482253 SUMMER RENTAL INCOME 531190 123529 123529 MEMBERSHIP DUES 713940 32275 32275 36048156 1461568 -67531 1529099 3661522 2109398 1552124 1552124 1552124 143699 76233 67466 67466 46718467 36015881 -35256 3148689 7846179 7846179 1050496 214707 568569 267220 140183 140183 11880721 9966674 1196453 717594 1295847 1122497 120414 52936 2830771 2436985 268066 125720 882256 706165 112234 63857 128580 128580 55631 55631 445400 445400 403371 356821 46550 48275 48275 1211593 851567 220522 139504 148060 77426 18742 51892 2733155 2733155 453343 328201 83824 41318 73188 73188 1044125 1044125 3242826 3048257 162141 32428 314246 314246 EQUIP. RENTAL & MAINT. 1553643 1526564 27079 FOOD 657705 657705 CATALOGUE 6925 6925 2410540 1088059 1141834 180647 40857059 34152195 4958560 1746304 14951409 19429115 5055596 4854457 1201513 940556 190990 146175 380347 500415 121555574 61841780 60596776 59713794 54479480 67018388 21348209 21734494 158204320 174337394 2017362 2306132 18131459 20104432 27197102 28538200 4430851 2990516 51776774 53939280 X 45435147 51084535 10193158 12724928 50799241 56588651 106427546 120398114 158204320 174337394 X 5861408 6832431 1276729 X 0 1 X 1 0 X 6174759 2550861 6568663 3606371 7589153 26489807 6174759 2550861 6568663 3606371 7589153 26489807 3103168 23386639 1040730 1020738 1322229 1131283 1461568 5976548 344895 367989 397150 414903 143699 1668636 34134991 164929462 0.68510 0.57610 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SALE OF INVENTORY - 2012 AMOUNT: $ 344,895. 2013 AMOUNT: $ 367,989. 2014 AMOUNT: $ 397,150. 2015 AMOUNT: $ 414,903. 2016 AMOUNT: $ 143,699. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 65436705 5996522 7889150 2490000 76832377 67427989 2363278 -1170840 3183722 65436705 67039307 3822485 271431 3705234 67427989 59788594 1778186 9657527 4185000 67039307 55822436 1261351 6642807 3938000 59788594 0.17000 0.70000 0.13000 0 0 705348 705348 96954981 43929269 53025712 12863001 11112933 1750068 11032244 6799578 4232666 59713794 ALTERNATIVE INVESTMENTS 18289990 F REAL ESTATE 2300000 F SPLIT INTEREST AGREEMENTS 1144504 F 21734494 ACCRUED PENSION EXPENSE 2412022 POOLED INCOME FUND LIABILITY 204941 LIABILITY UNDER SPLIT INTEREST AGREEMENTS 373553 2990516 44189742 6804431 76233 6880664 37309078 439860 8969529 9409389 46718467 30219174 -1228496 -1228496 31447670 439860 8969529 9409389 40857059 PART V, LINE 4: THE INTENDED USE OF THE ORGANIZATION'S ENDOWMENT FUNDS IS TO SUPPORT THE SCHOOL'S EDUCATIONAL MISSION, INCLUDING SUPPORT OF SCHOLARSHIPS, STUDENT SERVICES, FACULTY, ACADEMIC AND EXTRACURRICULAR PROGRAMS, FACILITIES, AND GENERAL ADMINISTRATION OF THE SCHOOL. THE SCHOOL'S INVESTMENT POLICY HAS THE OBJECTIVE OF PROVIDING A PREDICTABLE STREAM OF FUNDING TO SCHOOL PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN PURCHASING POWER OF THE ENDOWMENT ASSETS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOOD SOLD 76,233. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID/TUITION REMISSION 8,969,529. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOOD SOLD 76,233. CHANGE IN PENSION LIABILITY -1,304,729. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID/TUITION REMISSION 8,969,529. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 A NOTICE OF OUR NONDISCRIMINATORY POLICY AS TO STUDENTS WAS PUBLISHED IN THE HARTFORD COURANT EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM FUNDRAISING 9633 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM PROGRAM ADMISSIONS 57615 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, PROGRAM ADMISSIONS 4960 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, PROGRAM ADMISSIONS 139013 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, PROGRAM ADMISSIONS 2381 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, FUNDRAISING 4258 NORTH AMERICA (CANADA/MEXICO) PROGRAMS ADMISSIONS 2259 NORTH AMERICA (CANADA/MEXICO) FUNDRAISING 683 0 0 0 0 0 0 220802 0 220802 0 0 0 0 0 0 1 STUDENT FINANCIAL AID 209 7846179 FAIR VALUE WAIVE TUITION, FEES, AND OTHER CHARGES FOR THOSE STUDENTS WHO QUALIFY FOR AID. PART I, LINE 2: FINANCIAL AID IS AVAILABLE FOR QUALIFIED STUDENTS ON THE BASIS OF NEED DETERMINED BY THE SCHOOL'S GUIDELINES WHICH PROVIDE A FINANCIAL AID NEED ANALYSIS BASED ON CONFIDENTIAL INFORMATION PROVIDED BY FAMILIES. THE SCHOLARSHIPS ARE AWARDED ON AN OBJECTIVE AND NONDISCRIMINATORY MANNER. ALL SCHOLARSHIPS ARE MADE DIRECTLY AS CREDITS AGAINST STUDENT ACCOUNTS AND NO CASH REFUNDS ARE ISSUED FOR ANY PURPOSE. X X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 RICHARDSON W SCHELL SECRETARY & HEADMASTER 405626 0 0 0 6588 0 113038 0 24608 0 549860 0 0 0 JEFFREY D CATALDO ASST. TREASURER & CFO 249731 0 0 0 4100 0 28050 0 86455 0 368336 0 0 0 KATHY NADIRE ASST. SECRETARY AND DIR OF DEVELOPME 122856 0 0 0 0 0 13475 0 18308 0 154639 0 0 0 ADAM FISCHER FUNDRAISER 124817 0 0 0 7636 0 14610 0 14484 0 161547 0 0 0 CATHERINE MAZZA DEAN OF STUDENTS 124108 0 0 0 0 0 47822 0 24136 0 196066 0 0 0 SARAH ROSS DIRECTOR OF ADMISSIONS 136980 0 0 0 0 0 15909 0 32121 0 185010 0 0 0 MARC CLOUTIER FORMER OFFICER 89283 0 0 0 13638 0 49446 0 14620 0 166987 0 13638 0 PART I, LINE 1A BUSINESS CLASS TRAVEL IS PROVIDED FOR THE HEADMASTER ON CERTAIN EUROPEAN TRIPS. CERTAIN OFFICERS AND OTHER EMPLOYEES, INCLUDING THE HEADMASTER, ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. A CLEANING SERVICE IS PROVIDED FOR THE NONRESIDENT AREAS OF THE HEADMASTER'S RESIDENCE USED FOR ENTERTAINING. THESE ARE ALL TREATED AS NONTAXABLE BENEFITS. PART I, LINE 4B MARC CLOUTIER RETIRED 6/30/16 AND WAS PAID $13,628 OUT OF HIS 457(F) PLAN. A CHEFA 060806186 2017-05-16 18800000 REFUND EXISTING DEBT & ISSUANCE OF NEW DEBT FOR BUILDING AND EQUIPMENT. 0 0 0 B CHEFA 060806186 20774YTY3 2014-11-13 12765386 REFUND EXISTING DEBT 0 0 0 A 18800000 15550000 3250000 2017 1 0 1 1 B 3455386 12765386 255243 12510143 2004 1 0 1 1 A 0 0 0 0 0.01000 0.01000 0 0 1 B 0 0 0 0 0.01000 0.01000 0 0 1 A 0 1 1 0 0 0 0 0 1 B 0 1 1 0 0 0 0 0 1 A 1 B 1 PART II, LINE 11 - OTHER SPENT PROCEEDS: OTHER SPENT PROCEEDS WERE USED TO REFUND A PRIOR ISSUE. BEN NADIRE SPOUSE OF OFFICER 140183 COMPENSATION 0 BENJAMIN WARING PARTRIDGE PRESIDENT & TRUSTEE 229200 RENTAL PAYMENTS 0 SCHEDULE L, PART IV: IN MARCH OF 2013 THE SCHOOL ENTERED INTO A 60 MONTH LEASE FOR A BUILDING AND SURROUNDING PROPERTY WITH A SINGLE MEMBER LLC OWNED BY BENJAMIN WARING PARTRIDGE.EMPLOYMENT OF INTERESTED PERSONS IS REVIEWED AND APPROVED AS APPROPRIATE BASED ON THE INDIVIDUAL'S ABILITY TO PERFORM THE JOB. X 41 598511 FMV X 1 2050000 APPRAISED VALUE X HORSES 1 15000 FMV 0 1 0 PART I, LINE 32B: SCHEDULE M, PART I, LINE B: THE NUMBER OF CONTRIBUTIONS REPRESENTS THE NUMBER OF DONORS WHO MADE CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION CONSIST OF THE HEADMASTER AND THE CURRENT MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE ORGANIZATION VOTE ON THE TRUSTEE NOMINATIONS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS VOTE ON AND APPROVE DECISIONS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 AND ALL RELATED SCHEDULES ARE REVIEWED WITH THE CHAIR OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. THE AUDIT CHAIR HAS RESPONSIBILITY FOR ENSURING BOTH ACCURATE AND COMPLETE FINANCIAL AND TAX DISCLOSURE. ONCE FORM 990 IS APPROVED BY THE AUDIT CHAIR, FORM 990, EXCLUDING THE SCHEDULE B, IS PROVIDED TO ALL VOTING MEMBERS OF THE BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE SCHOOL SURVEYS THE FULL BOARD OF TRUSTEES TO DETERMINE IF A CONFLICT OF INTEREST EXISTS. THE PROCESS IS REVIEWED BY BOTH THE HEADMASTER'S OFFICE AND THE BUSINESS MANAGER'S OFFICE TO CONFIRM NO CONFLICT OF INTEREST OR TO REVIEW THE POSSIBLE CONFLICT AND RESOLVE AS APPROPRIATE. ALL CONFLICTS MUST BE VOTED ON AND APPROVED BY THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION FOR THE HEADMASTER IS DETERMINED BY A COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE COMMITTEE WILL CONSIDER THE SKILL SET OF THE HEADMASTER, THE EXPERIENCE LEVEL OF THE HEADMASTER AND WILL BENCHMARK CURRENT COMPENSATION AND PROPOSED COMPENSATION AGAINST OTHER HEADS OF SCHOOL IN OUR PEER GROUP. FURTHER, THE COMMITTEE, IF IT DEEMS APPROPRIATE, WILL LOOK TO THE ADVICE OF A THIRD PARTY CONSULTANT TO VALIDATE COMPENSATION. THE COMMITTEE WILL THEN MAKE A RECOMMENDATION AS TO THE COMPENSATION WHICH WILL BE APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD. FOR OTHER OFFICERS AND KEY EMPLOYEES, THE BUSINESS MANAGER AND THE HEADMASTER WILL REVIEW COMPENSATION IN CONJUNCTION WITH JOB RESPONSIBILITY, SKILL SET AND EXPERIENCE. THE JOB WILL THEN BE BENCHMARKED AGAINST OTHER POSITIONS AT OTHER SCHOOLS WITHIN OUR PEER GROUP. THE PROPOSED COMPENSATION WILL THEN BE DISCUSSED AS NECESSARY WITH MEMBERS OF THE BOARD'S EXECUTIVE COMMITTEE. IN THE RECENT PAST, A THIRD PARTY CONSULTANT HAS NOT BEEN USED TO SET THE COMPENSATION FOR OTHER OFFICERS OR KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL'S BY LAWS, CERTIFICATE OF INCORPORATION, AUDITED FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND ALL TAX RELATED DOCUMENTATION WILL BE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN PENSION LIABILITY 1,304,729. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -28,000. PART VII, SECTION A - COMPENSATION: THE KENT SCHOOL HAS DISCLOSED THE VALUE OF HOUSING AS A NONTAXABLE BENEFIT ON PART VII, SECTION A AND ON SCHEDULE J. HOWEVER, THE KENT SCHOOL DOES NOT CONSIDER THE HOUSING TO BE AN EMPLOYEE BENEFIT. HOUSING IS A CONDITION OF EMPLOYMENT THAT IS REQUIRED AND NECESSARY TO ALLOW CERTAIN EMPLOYEES TO PERFORM THEIR JOB RESPONSIBILITIES. POOLED INCOME FUND (21) CHARITABLE TRUST CT T 1 CHARITABLE REMAINDER TRUST (3) CHARITABLE TRUST CT T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0