2018-05-14T10:56:19-05:00 2017-06-30 061009205 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2016-07-01 042103563 TRUSTEES OF DEERFIELD ACADEMY TRUS 4137740241 PO BOX 87 DEERFIELD MA 013420087 KEITH FINAN ASSOC. HEAD OF SCHOOL & CFO 4137740241 2018-05-10 1 LORI BUDNICK P00046310 8605614000 2018-05-10 2016 2022-09-23 18:48:47Z KEITH FINAN PO BOX 87 DEERFIELD MA 013420087 142351327 0 X WWW.DEERFIELD.EDU X 1797 MA DEERFIELD ACADEMY IS AN INDEPENDENT SECONDARY SCHOOL COMMITTED TO HIGH STANDARDS OF SCHOLARSHIP, CITIZENSHIP, AND PERSONAL RESPONSIBILITY. THROUGH A RIGOROUS LIBERAL ARTS CURRICULUM, EXTENSIVE CO-CURRICULAR PROGRAM, AND SUPPORTIVE RESIDENTIAL ENVIRONMENT, DEERFIELD ENCOURAGES EACH STUDENT TO DEVELOP AN INQUISITIVE AND CREATIVE MIND, SOUND BODY, AND STRONG MORAL CHARACTER. 30 28 669 481 337162 261233 5324098 22354964 35880167 37888983 8451875 7294107 832298 760059 50488438 68298113 10067538 10892023 0 0 29972868 31410807 0 5208 5335675 22836328 23336990 62876734 65645028 -12388296 2653085 798976227 873954383 69747796 68220809 729228431 805733574 X DEERFIELD ACADEMY IS AN INDEPENDENT SECONDARY SCHOOL COMMITTED TO HIGH STANDARDS OF SCHOLARSHIP, CITIZENSHIP, AND PERSONAL RESPONSIBILITY. THROUGH A RIGOROUS LIBERAL ARTS CURRICULUM, EXTENSIVE CO-CURRICULAR PROGRAM, AND SUPPORTIVE RESIDENTIAL ENVIRONMENT, DEERFIELD ENCOURAGES EACH STUDENT TO DEVELOP AN INQUISITIVE AND CREATIVE MIND, SOUND BODY, AND STRONG MORAL CHARACTER. 0 0 50005137 10892023 37888983 DURING THE 2016-2017 ACADEMIC YEAR, 571 BOARDING AND 54 DAY STUDENTS WERE ENROLLED AT DEERFIELD ACADEMY. OUR PROGRAMS OF SECONDARY EDUCATION (GRADES 9-12) INCLUDE THE DEVELOPMENT OF OUR STUDENTS' ACADEMIC AND SCHOLARSHIP SKILLS, CITIZENSHIP AND CHARACTER. COMMUNITY SERVICE, ATHLETIC PROGRAMS AND EXTRA-CURRICULAR ACTIVITIES ARE INTEGRATED AS A PART OF THE SCHOOL'S LONGSTANDING INTELLECTUAL AND MORAL TRADITION. 50005137 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 1 0 1 0 1 1 0 0 0 0 0 0 0 1 195 0 1 669 1 1 1 0 0 0 0 0 0 0 0 0 X 30 28 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MA X GREG ROLLAND CONTROLLER 4137741412 DEERFIELD ACADEMY DEERFIELD MA 013420087 COHEN H RODGIN PRESIDENT 8.00 X X 0 0 0 WALLACH SUSAN VICE PRESIDENT 5.00 X X 0 0 0 WRIGHT VICTOR SECRETARY 3.00 X X 0 0 0 RUTH ALICE TREASURER 2.00 X X 0 0 0 CAPUTO RICHARD TRUSTEE 2.00 X 0 0 0 CLARK BENJAMIN TRUSTEE 2.00 X 0 0 0 DENUNZIO DAVID TRUSTEE 2.00 X 0 0 0 FARMER KATHERINE TRUSTEE 2.00 X 0 0 0 FLEMING GREGORY TRUSTEE 2.00 X 0 0 0 GARRISON DANIEL TRUSTEE 2.00 X 0 0 0 GOVI LEILA TRUSTEE 2.00 X 0 0 0 GREER PHILIP TRUSTEE 2.00 X 0 0 0 GROSSMAN MATTHEW TRUSTEE 2.00 X 0 0 0 HALE ROBERT TRUSTEE 2.00 X 0 0 0 KOCH DAVID TRUSTEE 2.00 X 0 0 0 KUO STANFORD TRUSTEE 2.00 X 0 0 0 MCENIRY ROGER S TRUSTEE 2.00 X 0 0 0 MCINERNEY MARK TRUSTEE 2.00 X 0 0 0 MOSLEY DANIEL TRUSTEE 2.00 X 0 0 0 NEWTON DIANA TRUSTEE 2.00 X 0 0 0 OFOSU-AMAAH SARA TRUSTEE 2.00 X 0 0 0 ROBERTS JANICE TRUSTEE 2.00 X 0 0 0 ROBERTSON J SPENCER TRUSTEE 2.00 X 0 0 0 ROCKEFELLER MARK TRUSTEE 2.00 X 0 0 0 SIMMONS BRIAN TRUSTEE 2.00 X 0 0 0 STRANDBERG DIANA S TRUSTEE 2.00 X 0 0 0 TERRY LUTHER JR TRUSTEE 2.00 X 0 0 0 VELEZ ANNA TRUSTEE 2.00 X 0 0 0 WHITTON LINDA TRUSTEE 2.00 X 0 0 0 CURTIS MARGARITA O'BYRNE HEAD OF SCHOOL/TRUSTEE 60.00 X X 500214 0 185037 FINAN KEITH CFO 60.00 X 277058 0 51730 MENARD CHRISTOPHER DEAN OF ADVANCEMENT 60.00 X 278663 0 58050 TAYLOR JOHN DEAN OF FACULTY 60.00 X 188628 0 80868 SAFFORD PAM DEAN OF ADMISSIONS & FINANCIAL AID 60.00 X 164516 0 37431 THIEL DAVID DIRECTOR OF COMMUNICATIONS 60.00 X 152339 0 56792 ROMBERGER ANN DIRECTOR OF LEADERSHIP GIFTS 60.00 X 154524 0 29485 COLLINS JULIE DIRECTOR OF BUSINESS SERVICES 60.00 X 146649 0 42251 SPENCER MARK DIRECTOR OF COLLEGE ADVISING 60.00 X 146161 0 42408 WILLIAMS MILTON DIRECTOR OF FACILITIES 60.00 X 137389 0 32224 POND DAVID ASSOCIATE HEAD/DIRECTOR OF DEVELOPMENT 0.00 X 150000 0 249 2296141 0 616525 23 1 1 0 CALLAHAN PAINTING 8A HARKNESS ROAD PELHAM MA 01002 PAINTING & RESTORATION 239263 EDGEWOOD MANAGEMENT LLC 535 MADISON AVENUE 15TH FLOOR NEW YORK NY 10022 INVESTMENT MANAGEMENT 173079 JOHN MOORE PAINTING 785 WENDELL ROAD SHUTESBURY MA 01072 PAINTING 137095 590FILMS LLC 190 GREEN STREET SUITE 201 BROOKLYN NY 11222 MEDIA & VIDEO PRODUCTION 136910 DENNIS BOOSKA 169 AVENUE A TURNERS FALLS MA 01376 FLOORING & RENOVATIONS 131029 5 22354964 6789035 22354964 TUITION AND FEES 611710 36586932 36586932 AUXILIARY PROGRAMS 611710 775075 775075 SUMMER EDUCATION 611710 526976 526976 37888983 1740532 73130 1667402 79085479 73531904 5553575 5553575 207099 5346476 986098 521310 464788 464788 SUMMER SPORTS CAMPS 713940 130323 130323 OTHER REVENUE 900099 111861 22389 89472 OUTSIDE FUNCTION REVENUE 900099 53087 34544 18543 295271 68298113 37888983 337162 7717004 287224 287224 10604799 10604799 1623259 215332 1025346 382581 116412 4641 41771 70000 21786837 16251600 3126793 2408444 2240985 1671023 288613 281349 3978353 2910493 642488 425372 1664961 1209494 267126 188341 195329 195329 81887 81887 5208 5208 768153 768153 660560 198290 235010 227260 74174 47520 11328 15326 956963 475312 371570 110081 869503 469665 364807 35031 3335116 3095655 199440 40021 697165 352596 94485 250084 406409 294499 107323 4587 2044070 2044070 6610002 6135404 395278 79320 726433 3150 723283 FOOD 1142357 978270 10388 153699 EQUIPMENT 623253 454413 109822 59018 TEXTBOOKS 436447 436105 313 29 PUBLICATIONS 339456 50757 120159 168540 3369713 1814825 1123504 431384 65645028 50005137 10304216 5335675 10000 10512 22796359 19261910 67696027 62918947 570686 352355 405156 407926 1097429 839939 275275452 60000275 199994376 215275177 236537805 270817827 266197818 303302598 3670571 767192 798976227 873954383 8345730 8625190 3340758 3804638 54318017 52147984 3743291 3642997 69747796 68220809 X 283179493 317415557 246592452 279953403 199456486 208364614 729228431 805733574 798976227 873954383 2653085 73852058 0 X 0 1 X 1 0 X 39199974 30835396 62989926 5324098 22354964 160704358 39199974 30835396 62989926 5324098 22354964 160704358 15829215 144875143 2458429 3867201 1261481 1654472 1667402 10908985 1560618 476615 1658182 365904 261233 4322552 1104458 1144172 1206318 1206919 1094113 5755980 181691875 170830210 0.79740 0.81850 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X EDUCATION 0 503540868 7014018 79776936 6977497 13042233 768101 569543991 550133512 -6674183 -20501710 6299438 12314002 803311 503540868 516856112 20134377 31187162 5685364 11548136 810639 550133512 440455638 22657092 70903580 5341426 11005267 813505 516856112 393452650 11312775 52113283 5128827 10640990 653253 440455638 0.27000 0.36000 0.37000 1 0 5068626 5068626 237563120 44516554 193046566 23348816 10967343 12381473 9294890 4516378 4778512 215275177 HEDGE FUNDS 177614100 F ALTERNATIVE ASSETS 89641291 F CASH AND CASH EQUIVALENTS 36047207 F 303302598 LIFE INCOME OBLIGATIONS 3642997 3642997 131550100 73852058 -11121381 62730677 68819423 -521310 -521310 68298113 55044957 521310 521310 54523647 11121381 11121381 65645028 PART III, LINE 1A: CONTRIBUTIONS OF ASSETS OTHER THAN CASH ARE RECORDED AT THEIR ESTIMATED FAIR VALUE AT THE DATE OF GIFT EXCEPT THAT CONTRIBUTIONS OF WORKS OF ART, HISTORICAL TREASURES AND SIMILAR ASSETS HELD AS PART OF COLLECTIONS ARE NOT RECOGNIZED OR CAPITALIZED. PART III, LINE 4: DEERFIELD ACADEMY MAINTAINS A COLLECTION OF ART AND HISTORICAL ITEMS FOR USE IN ITS ADVANCEMENT OF STUDENT EDUCATION AND AS A RESOURCE FOR THE STUDY AND EXPLORATION OF ART, HISTORY, CULTURE, CURRENT AFFAIRS, AESTHETICS, AND MEDIA. PART V, LINE 4: FINANCIAL AID, FACULTY SALARIES, PROFESSIONAL DEVELOPMENT, GENERAL OPERATIONS, AND OTHER. PART XI, LINE 2D - OTHER ADJUSTMENTS: GRANTS-FINANCIAL AID & TUITION REMISSION -10,387,442. UNRELATED BUSINESS INCOME TAX EXPENSE 34,162. INVESTMENT EXPENSE -768,101. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -521,310. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 521,310. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS-FINANCIAL AID & TUITION REMISSION 10,387,442. UNRELATED BUSINESS INCOME TAX EXPENSE -34,162. INVESTMENT EXPENSE 768,101. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 BY PUBLICATION IN REGIONAL NEWSPAPERS - "THE BOSTON GLOBE". THIS IS DONE ANNUALLY. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, INVESTMENTS 194567153 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES INVESTMENTS 496083 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM INVESTMENTS 256527 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, RECRUITMENT & DEVELOPMENT 67018 SOUTH AMERICA RECRUITMENT & DEVELOPMENT 4316 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM RECRUITMENT & DEVELOPMENT 2535 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, RECRUITMENT & DEVELOPMENT 1993 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES RECRUITMENT & DEVELOPMENT 95 0 0 0 0 0 0 195395720 0 195395720 1 0 1 1 1 0 1 TOWN OF DEERFIELD 501(C)(3) 166500 CHARITABLE UNITED WAY OF FRANKLIN COUNTY 501(C)(3) 34209 CHARITABLE DEERFIELD AREA FIRE PROTECTION DISTRICT 501(C)(4) 21500 22 CHARITABLE FIRST CHURCH OF DEERFIELD 501(C)(3) 14713 4856 OUT OF POCKET COST HEATING FUEL CHARITABLE 2ND HELPINGS 501(C)(3) 15830 OUT OF POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE BIG BROTHERSBIG SISTERS OF FRANKLIN COUNTY 501(C)(3) 10623 2549 OUT OF POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE BAYSTATE HEALTH FUND 501(C)(3) 10000 CHARITABLE CANCER CONNECTION 501(C)(3) 5196 62 CHARITABLE 7 1 SCHOLARSHIPS 227 9962517 CASH VALUE TUITION & FEES OTHER STUDENT SUPPORT 86 642282 CASH VALUE OTHER STUDENT SUPPORT PART I, LINE 2: GRANTS ARE PROVIDED VIA A REDUCTION IN TUITION. X X X 1 1 X X X X X 1 1 0 0 0 0 0 0 0 CURTIS MARGARITA O'BYRNE HEAD OF SCHOOL/TRUSTEE 477155 0 0 0 23059 0 130654 0 54383 0 685251 0 0 0 FINAN KEITH CFO 259058 0 0 0 18000 0 35306 0 16424 0 328788 0 0 0 MENARD CHRISTOPHER DEAN OF ADVANCEMENT 262163 0 0 0 16500 0 36610 0 21440 0 336713 0 0 0 TAYLOR JOHN DEAN OF FACULTY 180628 0 0 0 8000 0 24224 0 56644 0 269496 0 0 0 SAFFORD PAM DEAN OF ADMISSIONS & FINANCIAL AID 155516 0 0 0 9000 0 12863 0 24568 0 201947 0 0 0 THIEL DAVID DIRECTOR OF COMMUNICATIONS 146339 0 0 0 6000 0 19178 0 37614 0 209131 0 0 0 ROMBERGER ANN DIRECTOR OF LEADERSHIP GIFTS 154524 0 0 0 0 0 19513 0 9972 0 184009 0 0 0 COLLINS JULIE DIRECTOR OF BUSINESS SERVICES 139449 0 0 0 7200 0 18725 0 23526 0 188900 0 0 0 SPENCER MARK DIRECTOR OF COLLEGE ADVISING 145561 0 0 0 600 0 18601 0 23807 0 188569 0 0 0 WILLIAMS MILTON DIRECTOR OF FACILITIES 137389 0 0 0 0 0 17400 0 14824 0 169613 0 0 0 POND DAVID ASSOCIATE HEAD/DIRECTOR OF DEVELOPME 0 0 0 0 150000 0 0 0 249 0 150249 0 150000 0 PART I, LINE 1A FIRST CLASS TRAVEL IS ALLOWED FOR INTERNATIONAL TRIPS ONLY. CERTAIN PERSONAL SERVICES ARE PROVIDED TO THE HEAD OF SCHOOL AND SPOUSE, TO ASSIST THEM IN FULFILLING THEIR RESPONSIBILITIES AND DUTIES TO THE ACADEMY. THESE POLICIES ARE IN WRITING. EMPLOYEES WHO ARE PROVIDED HOUSING ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. THESE HOMES ARE AVAILABLE FOR HOUSING VISITORS AND FOR OTHER USES DURING SCHOOL SPONSORED EVENTS. PART I, LINE 1B FIRST CLASS TRAVEL IS ALLOWED FOR INTERNATIONAL TRIPS ONLY. CERTAIN PERSONAL SERVICES ARE PROVIDED TO THE HEAD OF SCHOOL AND SPOUSE, TO ASSIST THEM IN FULFILLING THEIR RESPONSIBILITIES AND DUTIES TO THE ACADEMY. THESE POLICIES ARE IN WRITING. PART I, LINES 4A-B MARGARITA O'BYRNE CURTIS PARTICIPATES IN A 457(F) PLAN. SEPARATELY, MARGARITA O'BYRNE CURTIS HAS A NONQUALIFIED DEFERRED COMPENSATION AGREEMENT WITH THE ACADEMY. DAVID POND RECEIVED PAYMENTS FROM HIS NONQUALIFIED DEFERRED COMPENSATION AGREEMENT OF $150,000 DURING CALENDAR YEAR 2016. THE FORMER DEAN OF ADMISSIONS RECEIVED SEVERANCE OF $72,600 DURING CALENDAR YEAR 2016. A MA DEVELOPMENT FINANCE AGENCY 043431814 57583R3N3 2010-11-10 42925825 TO REFUND PRIOR ISSUES DATED 11/1/1997, 6/26/2003, & 7/16/2008. 0 0 0 B MA DEVELOPMENT FINANCE AGENCY 043431814 2013-05-02 15000000 TO EXPAND AND RENOVATE THE FINE ARTS BUILDING 0 0 0 A 42925825 40506 42328508 556811 2010 1 1 1 1 B 15000000 107600 14892400 2014 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MA DEVELOPMENT FINANCE AGENCY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/10/2016 VARIOUS STUDENT FIN AID MANNING CURTIS SPOUSE OF HEAD OF SCHOOL 46412 EMPLOYMENT 0 ELIZABETH DICKSON SIBLING OF TRUSTEE MEMBER 70000 EMPLOYMENT 0 X 3 ART NOT CAPITALIZED X 316 6747913 MARKET VALUE X GRAND PIANO 1 19500 APPRAISAL X CHINA TRIP EXPENSES 1 14448 ACTUAL COST X HOSTED EVENT 3 7174 ACTUAL COST 0 0 1 1 PART I, LINE 32B: DEERFIELD ACADEMY USES A STOCKBROKER TO SELL GIFTS OF PUBLICLY TRADED SECURITIES. FORM 990, PART VI, SECTION A, LINE 7A EXISTING BOARD MEMBERS VOTE IN NEW BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B COPIES OF THIS 2016 FORM 990 WERE SENT TO THE AUDIT COMMITTEE AND THE BOARD PRESIDENT, VICE PRESIDENT AND TREASURER, WHICH REPRESENTS APPROXIMATELY 30% OF THE ENTIRE BOARD. PRIOR TO FILING, A MEETING WITH THE AUDIT COMMITTEE MEMBERS AND MANAGEMENT TOOK PLACE IN ORDER TO REVIEW THE RETURN AND ANSWER ALL QUESTIONS. THIS FORM 990, EXCLUDING SCHEDULE B, WAS PROVIDED TO ALL OTHER MEMBERS OF THE BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BY-LAWS PROHIBIT A TRUSTEE FROM VOTING, APPROVING, OR MAKING A RECOMMENDATION REGARDING A TRANSACTION BETWEEN THE ACADEMY AND AN ENTITY IN WHICH THE INDIVIDUAL OR A MEMBER OF HIS OR HER FAMILY HAS AN OWNERSHIP INTEREST. FORM 990, PART VI, SECTION B, LINE 15A DEERFIELD ACADEMY'S BOARD OF TRUSTEES OVERSEES THE COMPENSATION OF THE ACADEMY'S TOP MANAGEMENT OFFICIALS. HEAD OF SCHOOL - THE PERSONNEL & COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS SALARY AND PERQUISITE DATA FROM OTHER INDEPENDENT SCHOOLS FOR THE POSITION OF HEAD OF SCHOOL TO ENSURE SALARIES ARE REASONABLE AND APPROPRIATE TO THE MARKET. MINUTES OF THE PERSONNEL & COMPENSATION COMMITTEE MEETING ARE MAINTAINED DOCUMENTING THE DISCUSSIONS REGARDING THE SALARY SETTING FOR THE HEAD OF SCHOOL. SENIOR STAFF - THE HEAD OF SCHOOL REVIEWS, IN CONJUNCTION WITH THE PRESIDENT OF THE BOARD, SALARY AND PERQUISITE DATA FROM OTHER INDEPENDENT SCHOOLS FOR OTHER TOP MANAGEMENT OFFICIALS, TO ENSURE SALARIES ARE REASONABLE AND APPROPRIATE TO THE MARKET. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST.