2018-05-08T06:56:26-05:00 2017-06-30 560574444 CHERRY BEKAERT LLP 1111 Metropolitan Ave Ste 1000 Charlotte NC 28204 990 2016-07-01 560944449 CHARLOTTE LATIN SCHOOLS CHAR 7048467299 9502 providence road charlotte NC 282778695 fletcher gregory Associate Headmaster 7048467299 2018-04-26 1 Amanda Adams P00748038 7043771678 2016 2022-09-23 18:48:47Z Arch N McIntosh Jr 9502 providence road charlotte NC 282778695 46514854 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. 23 23 534 200 0 0 4863927 7076071 30170213 31373235 -260366 924042 0 0 34773774 39373348 2160262 2204716 0 0 21370551 22048099 0 0 2008816 9358968 9963392 32889781 34216207 1883993 5157141 81953688 90396445 26888412 27634298 55065276 62762147 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 23967414 2204716 29547694 CLS enrolled and educated 1,410 students in grades Transitional Kindergarten through 12th Grade in the 2016-2017 school year.Charlotte Latin School started a new Diversity and Inclusion initiative under the direction of Mrs. Sonja Taylor, Director of Diversity and Inclusion. The initiative includes expanding Latin's faculty diversity through the Latin Fellows program that targets promising, young teachers from top teaching colleges in North and South Carolina. The program offers a year's mentorship with master teachers at Latin. In school year 2016-17 Latin brought noted social media expert and author, Catherine Steiner-Adair, to campus for a series of workshops with parents, teachers and the public, educating them about student technology use and management. This program was a cross-divisional effort including Latin's Family Technology Task Force, Division Heads and our Headmaster. 1597290 1281460 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. 375650 544081 CLS provided food and transportation services to students in grades transitional kindergarten through 12th grade. 25940354 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 70 0 1 534 1 0 0 0 0 0 0 0 0 0 0 X 23 23 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 John G Norman Treasurer 1.00 X X 0 0 0 Joycelyn C Lavelle Secretary 1.00 X X 0 0 0 William C Adams Board Member 1.00 X 0 0 0 Gary J Anderson Board Member 1.00 X 0 0 0 Joanne O'Brien Beam Board Member 1.00 X 0 0 0 William A Bowen Jr 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 Heather S Finke Board Member 1.00 X 0 0 0 Mike D Freno Board Member 1.00 X 0 0 0 Kodwo Ghartey-Tagoe Board Member 1.00 X 0 0 0 Courtney P Hyder Board Member 1.00 X 0 0 0 Edward P Imbrogno 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 Thad M Sharrett 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 338288 0 97037 Fletcher Gregory Associate Headmaster/Dir. of Finance 50.00 X 200000 0 33352 Mark Tayloe Head of Lower School 50.00 X 152970 0 29159 Mary Jane Gallgher Director of Development 50.00 X 148782 0 20498 Lawrence Wall Head of Upper School 50.00 X 145973 0 20953 David Gatoux Athletic Director 50.00 X 128919 0 26907 Debbie Lamm HEAD OF MIDDLE SCHOOL 50.00 X 128386 0 21517 1243318 0 249423 13 0 1 0 Little Diversified Architectural Consult 5815 West Park Drive Charlotte NC 28217 Architectural services 649029 JR Creative Construction Inc 5215 Kodiak Ct Charlotte NC 28215 Construction and repairs 228534 MSS Solutions LLC PO Box 538178 Atlanta GA 30535 HVAC contractor 212920 Showalter Construction Co PO Box 220289 Charlotte NC 28222 Construction and repairs 149109 Young Engineers of Today 9935-D Rea Road 243 Charlotte NC 28277 Teaching engineering to students 136266 8 7076071 1447328 7076071 Tuition 900099 29547694 29547694 other auxiliary 900099 582724 582724 Summer camp revenue 900099 563667 563667 Transportation 900099 525187 525187 Extended care 900099 153963 153963 31373235 718148 718148 7347400 7141506 205894 205894 205894 39373348 31373235 0 924042 2204716 2204716 668677 435325 233352 16574387 12967808 2535481 1071098 1373223 1067445 220485 85293 1989154 1546226 319379 123549 1442658 1121419 231634 89605 207296 207296 596983 384023 212960 356540 31765 324775 242227 242227 1067372 761409 305963 916284 786480 121178 8626 246500 147900 86275 12325 2053708 1232225 718798 102685 194827 194827 MATERIALS & SUPPLIES 2463472 1838564 527168 97740 REPAIRS & MAINTENANCE 634743 634743 TEACHER RECRUITMENT 157357 157357 PROGRAMS & ASSEMBLIES 128801 126955 1846 697282 490289 113873 93120 34216207 25940354 6267037 2008816 4177315 4431994 6760933 11449179 3122000 5573802 243785 183332 487426 286574 67914816 36010182 32182604 31904634 30233148 36359342 4547437 199040 207588 81953688 90396445 2715155 2822327 13101399 14714486 10739867 9684296 331991 413189 26888412 27634298 X 37822938 38881677 7175960 13959716 10066378 9920754 55065276 62762147 81953688 90396445 5157141 2539730 0 X 0 1 X 1 0 X 1941242 1558083 1765903 4863927 7076071 17205226 1941242 1558083 1765903 4863927 7076071 17205226 850302 16354924 762181 701008 762188 802809 718148 3746334 20951560 146616327 0.78060 X PART I AND PART II CHARLOTTE LATIN IS CLASSIFIED AS A PUBLIC CHARITY, A SCHOOL, IN ACCORDANCE WITH SECTION 170(B)(1)(A)(II) OF THE INTERNAL REVENUE CODE. HOWEVER, THE SCHOOL HAS ELECTED TO FOLLOW THE SPECIAL RULE FOR REPORTING CONTRIBUTIONS ON SCHEDULE B WHICH PROVIDES THAT 501(C)(3) ORGANIZATIONS THAT SATISFY THE 33 1/3% SUPPORT TESTS OF SECTIONS 509(A)(1) AND 170(B)(1)(A)(VI) NEED ONLY DISCLOSE ON SCHEDULE B THE GREATER OF (1) $5,000 OR (2) 2% OF TOTAL CONTRIBUTIONS, GIFTS, GRANTS, AND SIMILAR AMOUNTS RECEIVED. THEREFORE, THE SCHOOL HAS COMPLETED THE SUPPORT SCHEDULE IN PART II TO SUBSTANTIATE THAT IT MEETS THE PUBLIC SUPPORT TEST FOR THE 2016 TAX YEAR. CHARLOTTE LATIN CONTINUES TO QUALIFY FOR EXEMPTION AS A SCHOOL. THE TEST IS COMPLETED SOLELY FOR PURPOSES OF QUALIFYING FOR THE SPECIAL RULE FOR SCHEDULE B REPORTING. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 27891840 162673 3181734 195697 925987 30114563 29012980 508005 -509183 1119962 27891840 29235181 876902 -221579 877524 29012980 25268544 846809 3749560 629732 29235181 22437675 1455546 2221413 846090 25268544 0.48960 0.32040 0.19000 0 0 4101641 4101641 54282783 30999542 23283241 8774049 5010640 3763409 756343 756343 31904634 Deferred compensation 413189 413189 X 39501066 2539730 -2204716 335014 39166052 207296 207296 39373348 31804195 0 31804195 207296 2204716 2412012 34216207 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 -2,204,716. Part XII, Line 4b - Other Adjustments: Financial assistance shown net of revenue on financials 2,204,716. 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. Central America and the Caribbean 0 0 INVESTMENTS Europe (Including Iceland & Greenland) 0 0 Program Services SUMMER TRAVEL PROGRAM FOR STUDENTS 111082 0 0 0 0 0 0 111082 0 111082 0 0 1 0 0 0 1 Scholarships and Financial Assistance to Students 201 195697 2009019 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 308288 0 30000 0 0 0 79640 0 17397 0 435325 0 0 0 Fletcher Gregory Associate Headmaster/Dir. of Finance 200000 0 0 0 0 0 21759 0 11593 0 233352 0 0 0 Mark Tayloe Head of Lower School 152970 0 0 0 0 0 13184 0 15975 0 182129 0 0 0 Mary Jane Gallgher Director of Development 148782 0 0 0 0 0 13635 0 6863 0 169280 0 0 0 Lawrence Wall Head of Upper School 145973 0 0 0 0 0 14565 0 6388 0 166926 0 0 0 David Gatoux Athletic Director 128919 0 0 0 0 0 10932 0 15975 0 155826 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 North Carolina Capital Facilities Finance Agency Series 2013A 561592154 000000000 2013-09-17 11800000 To refund 1999 bond issue 0 0 0 B North Carolina Capital Facilities Finance Agency Series 2013B 561592154 000000000 2013-09-17 1175108 To finance and refinance capital improvements on campus 0 0 0 A 3025000 11800000 185000 11615000 1999 1 0 1 1 B 135000 1175108 51000 1124108 2013 0 0 1 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 0 0 0 0 0 1 B 0 0 0 0 1 0 0 0 1 A 1 B 1 Schedule K, Part I, Line B, Item e Issue Price The issue price per the Form 8038 filing was $3,000,000. However, the School only made draws of $1,124,108. The underlying bonds were purchased by a Bank which subsequent to the draw executed a clause in the loan to remove any further borrowing on the Series 2013B Bonds. Schedule K, Part III, Column A This section is not applicable to the Series 2013A Bond as it is part of a post-December 31, 2002, refunding issue that refunded a pre-January 1, 2003 bond. X 0 N/A X 47 1447328 FMV X STUDENT VIOLINS 1 0 N/A X FURNITURE AND OFFICE SUPPLIES 1 0 N/A 0 0 1 0 Part I, Line 33: THE SCHOOL RECEIVED DONATIONS OF OFFICE SUPPLIES, FURNITURE, STUDENT VIOLINS, AND BOOKS AND PUBLICATIONS 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.