2018-02-13T15:08:29-06:00 2017-06-30 111986323 Marcum LLP 1 Montgomery Street Suite 1700 San Francisco CA 94104 990 2016-07-01 942356968 Mount Tamalpais School MTTA 4153839434 100 Harvard Avenue Mill Valley CA 94941 Andrew Davis Head of School 4153839434 2018-01-26 1 JULIET SONG P00857784 4154326200 47.19.127.190 2018-01-26 11:31:48 PS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 FACCF44B40B6BD0744B40364711490B1A9A19B30 2016 2021-01-29 14:40:06Z Andrew Davis 100 Harvard Avenue Mill Valley CA 94941 12728727 0 X WWW.MTTAM.ORG X 1976 CA Elementary school education with an emphasis on academic and social development. 16 15 61 240 0 0 813841 1896911 7566610 6777470 122636 590860 -68757 442643 8434330 9707884 1005505 1167635 0 0 5126575 5810719 0 0 191966 3093589 2582399 9225669 9560753 -791339 147131 16654475 16731080 6677355 6857107 9977120 9873973 see schedule o. 0 0 7369575 1167635 7340258 PROGRAM EXPENSES are related to the operation of a private, co-educational school for approximately 240 students in kindergarten to 8th grade. the school focuses on AN ENVIRONMENT THAT ENCOURAGES THE DEVELOPMENT OF THE WHOLE CHILD. 7369575 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 56 0 1 61 1 0 0 0 0 0 1 1 0 0 0 0 X 16 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X Ms Joelle Dodge 4153839434 100 Harvard Avenue Mill Valley CA 94941 Michelle Sarti President 15.00 X X 0 0 0 Mark Lopez Vice Chair 15.00 X X 0 0 0 Laura Hill Secretary 5.00 X X 0 0 0 Fiona Rees Treasurer 5.00 X X 0 0 0 Heidi Altree Trustee 2.00 X 0 0 0 John Bell Trustee 2.00 X 0 0 0 Lee Carson Trustee 2.00 X 0 0 0 Maureen Denicke Trustee 2.00 X 0 0 0 David Dominik Trustee 2.00 X 0 0 0 Cooksie Giannini Trustee 2.00 X 0 0 0 Laurent Huguenin Trustee 2.00 X 0 0 0 Philip Leung Trustee 2.00 X 0 0 0 Stacy Metcalf Trustee 2.00 X 0 0 0 David Moyne Trustee 2.00 X 0 0 0 Xania Robinson Trustee 2.00 X 0 0 0 Kristin Sennett Trustee 2.00 X 0 0 0 Andrew Davis Head of School 40.00 X 153000 0 12402 Rosemarie Nicolini Director of Operations and Facilities 40.00 X 124795 0 31956 David Baker Teacher 40.00 X 149896 0 30414 Eric Kielich Teacher 40.00 X 125385 0 18924 Suzanne O'Meara Teacher 40.00 X 121439 0 18608 Nancy Tracy Teacher 40.00 X 112613 0 31704 Dr Andrew Mecca Former Interim Head of School 40.00 X 140000 0 12616 927128 0 156624 7 1 1 0 FIRST STUDENT 22157 NETWORK PLANCE CHICAGO IL 60673 TRANSPORTATION 456982 JOHN KEITH-BERKLEY 134 VAN BURAN COURT NOVATO CA 94947 FINANCIAL CONSULTANT 174285 VENABLE LLP PO BOX 62727 BALTIMORE MD 21264 LEGAL 113209 3 241330 1655581 67566 1896911 tuition and fees 611110 6777470 6777470 6777470 88618 88618 81850 201995 -120145 -120145 -120145 3143345 2641103 502242 502242 502242 177745 241330 177745 0 RECOVERY OF DIVERTED FUNDS 611110 548461 548461 miscellaneous income 611110 14327 14327 562788 9707884 7340258 0 470715 1167635 1167635 356189 356189 4148135 3519887 509667 118581 45229 32407 11238 1584 922027 743995 152968 25064 339139 266486 63675 8978 131829 131829 320761 320761 99347 8302 91045 18568 18568 242991 88812 143729 10450 73042 57395 13714 1933 274046 214602 54175 5269 406809 406809 286891 225431 53865 7595 64895 50993 12184 1718 CURRICULUM DEVELOPMENT 127884 127884 After School Programs 70837 70837 DRAMA PRODUCTION 63614 63614 STUDENT LUNCH 44112 44112 356773 280374 65605 10794 9560753 7369575 1999212 191966 1110537 3035285 1913955 1526780 27444 15698 128983 205089 13704119 5613033 8534199 8091086 4939357 3607375 0 249767 16654475 16731080 903319 1062908 4696281 4764082 1072480 1026767 5275 3350 6677355 6857107 X 4825726 5410050 2091619 1404148 3059775 3059775 9977120 9873973 16654475 16731080 147131 -250278 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4867693 339682 1600000 3607375 4662614 60588 144491 4867693 5585429 10695 198315 1131825 4662614 4918751 19700 646978 5585429 4470251 39965 408535 4918751 0.84820 0.15180 0 0 2625244 2625244 9973232 4692146 5281086 1105643 920887 184756 8091086 Rent deposits 3350 3350 X 8565266 -250278 97550 177745 25017 8540249 1167635 1167635 9707884 8668413 97550 177745 275295 8393118 1167635 1167635 9560753 Part V, Line 4: The School's endowment consists of a number of individual funds established for various purposes. The endowment may include both donor-restricted endowment funds and funds designated by the Board of Trustees to function as endowments. As required by U.S. GAAP, net assets associated with endowment funds, including funds designated by the Board of Trustees to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. INTERPRETATION OF RELEVANT LAW The Board of Trustees has interpreted the Uniform Prudent Management of Institutional Funds Act (UPMIFA) as requiring the preservation of the fair value of the original gift as of the gift date of the donor-restricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, the School classifies as permanently restricted net assets (a) the original value of gifts donated to the permanent endowment, (b) the original value of subsequent gifts to the permanent endowment, and (c) accumulations to the permanent endowment made in accordance with the direction of the applicable donor gift instrument at the time the accumulation is added to the fund. The remaining portion of the donor-restricted endowment fund that is not classified in permanently restricted net assets is classified as temporarily restricted net assets until those amounts are appropriated for expenditure by the School in a manner consistent with the standard of prudence prescribed by UPMIFA. In accordance with UPMIFA, the School considers the following factors in making a determination to appropriate or accumulate donor-restricted endowment funds: (1) The duration and preservation of the fund (2) The purpose of the School and the donor-restricted endowment fund (3) General economic conditions (4) The possible effect of inflation and deflation (5) The expected total return from income and the appreciation of investments (6) Other resources of the School (7) The investment policies of the School From time to time, the fair value of assets associated with individual donor-restricted endowment funds may fall below the level that the donor or UPMIFA requires the School to retain as a fund of perpetual duration. In accordance with U.S GAAP, deficiencies of this nature are to be reported in unrestricted net assets. These deficiencies can result from unfavorable market fluctuations that occurred shortly after the investment of new permanently restricted contributions and continued appropriation for certain programs that was deemed prudent by the Board of Trustees. As of June 30, 2017, there were no significant investment deficiencies; and therefore, no amounts were reflected in unrestricted net assets. SPENDING POLICY AND HOW THE INVESTMENT OBJECTIVES RELATE TO THE SPENDING POLICY The School has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of the endowment assets. Endowment assets include those assets of donor-restricted funds that the School must hold in perpetuity or for donor-specified periods. The School's current investment policy calls for target asset allocation of 60% equities and 40% bonds. The performance of these investments is measured against established equity and fixed income indices to provide for the a) preservation of capital, b) current income, and c) long-term growth of capital and income. To satisfy its long-term rate-of-return objectives, the School relies on a total return strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and current yield (interest and dividends). The School targets a diversified asset allocation intended to achieve its long-term return objectives within prudent risk constraints. In October 2016, the Board authorized the total transfer of up to $1.8 million in endowment funds to the School's general fund. The amount represents temporarily restricted endowment net assets at June 30, 2016. The Board concluded that approximately $1.4 million is income earned on the endowment investments over the years and that approximately $400,000 represent contributions to scholarships funds. Historically, the School has granted scholarships to many students but has not transferred any portion of the endowment funds to compensate for the general fund for the costs of those scholarships. The Board is aware that a draw in excess of 7% of total endowment is presumed "imprudent." However, upon deliberation and consultation with legal counsel, the Board reasonably believes that this draw is necessary and critical to ensure the ongoing financial health of the School. Based on the above, the Board appropriated $1.6 million of temporarily restricted endowment net assets during the year ended June 30, 2017, and will appropriate an additional $200,000 in the year ending June 30, 2018. Part X, Line 2: The School is a qualified organization exempt from federal income taxes under section 501(c)(3) of the Internal Revenue Code (IRC) and franchise taxes under section 23701d of the California Revenue and Taxation Code, respectively. Accordingly, it is exempt from federal and California income taxes and is not liable for federal unemployment taxes. Management evaluated the School's tax positions and concluded that they maintained their tax exempt status and had taken no uncertain tax positions that would require adjustment to the financial statements. Therefore, no provision or liability for income taxes has been included in the financial statements. The School is subject to routine audits by taxing jurisdictions; however, there are no audits in process. Part XI, Line 2d - Other Adjustments: auction expense netted against gross income from fundraising events 177,745. Part XI, Line 4b - Other Adjustments: financial aid netted against tuition 1,167,635. Part XII, Line 2d - Other Adjustments: auction expense netted against gross income from fundraising events 177,745. Part XII, Line 4b - Other Adjustments: financial aid netted against revenue 1,167,635. 1 1 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 the racial non-discriminatory policy was published in the san francisco chronicle on June 6, 2017. Schedule E, Part I, Line 4 The school does not keep such records for the student body but does for the faculty and administrative staff. auction 419075 241330 177745 15777 82142 1363 78463 419075 241330 177745 15777 82142 1363 78463 177745 0 1 Tuition assistance 58 1167635 Tuition assistance Part I, Line 2: ALL AWARDS ARE NEED BASED. ALL APPLICANTS FOR FINANCIAL ASSISTANCE MUST APPLY THROUGH SSS (SCHOOL SCHOLARSHIP SERVICE) IN PRINCETON, NEW JERSEY, AN "OUT OF HOUSE" CLEARING ORGANIZATION THAT IS COORDINATED THROUGH NAIS (NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS). X 0 0 X X 0 0 0 0 0 0 0 0 0 Andrew Davis Head of School 153000 0 0 0 0 0 0 0 12402 0 165402 0 0 0 Rosemarie Nicolini Director of Operations and Facilitie 124795 0 0 0 0 0 6155 0 25801 0 156751 0 0 0 David Baker Teacher 149896 0 0 0 0 0 6866 0 23548 0 180310 0 0 0 Dr Andrew Mecca Former Interim Head of School 140000 0 0 0 0 0 0 0 12616 0 152616 0 0 0 Part I, Line 1a The Head of School lives in a school-owned house which is furnished by the school for the convenience of the school and is not taxable to the Head of School under IRC section 119. Xania Robinson trustee 39140 noncash financial aid to family memeber tuition assistance maureen denicke trustee 24720 noncash financial aid to family memeber tuition assistance X 5 67566 FAIR MARKET VALUE 0 0 0 Form 990, part iii, line 1, description of organization's mission: Mount Tamalpais School (the "School or "MTS") is a co-educational day school enrolling up to 240 children in Kindergarten through Grade 8. The School is dedicated to the active pursuit of knowledge, integrity, and fairness. Our students embrace diversity, honoring the value of each individual's strengths, choices, feelings, and ideas. Our faculty members serve as guides and role models, committed to engaging and challenging our students with a strong, interactive, and multidisciplinary curriculum. Founded in 1976, the School provides students with a solid academic foundation, and fosters a genuine enthusiasm for learning through a departmentalized, integrated curriculum. Rather than a teacher assigned to teach an entire grade level, with students glued to their seats all day, our teachers teach a single subject, and students move from classroom to classroom. With educators practicing their passion, and students on the move every 40 minutes, energy levels remain high, and everyone - students and teachers alike - feel refreshed and eager to take on the next challenge. Students have access to the outdoors and nearby trails throughout their time at the School. Field trips occur all through the year to local museums, the symphony, and other locations that extend the curriculum. Bus service is offered between the School and local communities, including San Francisco. Mount Tamalpais School admits students of any race, religion, national or ethnic origin to enjoy all the rights, privileges, programs and activities available at the School. The School's mission statement is as follows: Mount Tamalpais School is committed to the development of knowledge and goodness within children in an academically inspiring and nurturing environment. A MTS education, vigorous, creative and process-driven, develops children who are well prepared for their future while remaining young at heart. We infuse the academic, artistic, and athletic programs with the values of kindness, integrity, respect, and self-reliance so that all students can fully realize their human potential. Form 990, Part VI, Section B, line 11b THE school'S FORM 990 IS PREPARED BY AN OUTSIDE CPA FIRM. THE FORM 990 IS THEN REVIEWED BY MANAGEMENT Of THE school BEFORE IT IS SENT TO THE BOARD OF TRUSTEES. THE BOARD OF TRUSTEES APPROVE THE FORM 990 BEFORE IT IS FINALIZED. Form 990, Part VI, Section B, line 12c Mount Tamalpias has a written conflict of interest policy and form that they have all trustees and Head of school sign. These were signed in August 2016. Form 990, Part VI, Section B, line 15a the board or subcommittee approved the head of school's compensation. Form 990, Part VI, Section C, line 19 RECORDS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. IN ADDITION, OPERATING INFORMATION IS PUBLISHED IN THE ANNUAL REPORT.