2018-02-16T11:04:49-06:00 2017-06-30 061009205 BLUM SHAPIRO & COMPANY PC 1 PINE HILL DRIVE SUITE 301 QUINCY MA 021697431 990 2016-07-01 042620156 FALMOUTH ACADEMY INC FALM 5084579696 7 HIGHFIELD DRIVE FALMOUTH MA 025402345 CARMEN DISANTO BUSINESS MANAGER 5084579696 2018-02-06 1 MICHELLE Y HATCH P01222458 7819821001 2018-02-06 50.200.120.74 2018-02-06 11:32:42 ES P 65153C75F5ED3E082057A11A1962B7A77ABEA9EF DF8EC6EC51E1FD1DECD3FD9B85C405DAF374F076 2016 2021-01-29 14:40:06Z CARMEN DISANTO 7 HIGHFIELD DRIVE FALMOUTH MA 025402345 10208388 0 X FALMOUTHACADEMY.ORG X 1977 MA HARNESSING THE POWER OF INSPIRED LEARNING IN A WORLD-RENOWNED SCIENTIFIC AND VIBRANT ARTISTIC COMMUNITY, FALMOUTH ACADEMY EMBOLDENS EACH STUDENT TO TAKE CREATIVE AND INTELLECTUAL RISKS TO CONFIDENTLY ENGAGE THE CHALLENGES OF OUR TIMES. 20 20 90 120 0 0 1401866 1813618 5413313 5911881 161010 19290 55061 42421 7031250 7787210 1309402 1302751 0 0 3665843 4205306 0 0 355952 1486156 1458454 6461401 6966511 569849 820699 19320466 22100909 1654660 2951676 17665806 19149233 HARNESSING THE POWER OF INSPIRED LEARNING IN A WORLD-RENOWNED SCIENTIFIC AND VIBRANT ARTISTIC COMMUNITY, FALMOUTH ACADEMY EMBOLDENS EACH STUDENT TO TAKE CREATIVE AND INTELLECTUAL RISKS TO CONFIDENTLY ENGAGE THE CHALLENGES OF OUR TIMES. 0 0 4531108 1302751 5787805 THE ACADEMY'S PRIMARY MISSION IS THE EDUCATION OF STUDENTS ENROLLED IN GRADES 7 THROUGH 12. DURING THE CURRENT YEAR THE ACADEMY HAD ENROLLED 200 STUDENTS. 106657 179162 FALMOUTH ACADEMY OFFERS A SUMMER PROGRAM FOR STUDENTS OF ALL AGES AND SKILL LEVELS INVOLVING ACTIVITIES IN THE ARTS, SCIENCE AND ROBOTICS, ATHLETICS, LANGUAGES AND OUTDOOR ACTIVITIES. THE COURSES USUALLY LAST A WEEK AND RUN FOR SIX WEEKS FROM JUNE 27-AUGUST 5. 4637765 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 32 0 1 90 1 0 0 0 0 0 0 0 0 0 0 X 20 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 0 0 MA X CARMEN DISANTO 5084579696 7 HIGHFIELD DRIVE FALMOUTH MA 02540 JOAN O HOLDEN TRUSTEE 2.00 X 0 0 0 DR VICTOR M AVILES TRUSTEE 2.00 X 0 0 0 JOSEF M KELLNDORFER TRUSTEE 2.00 X 0 0 0 JOSEPH VALLE TRUSTEE 2.00 X 0 0 0 LAURA RYAN SHACHOY TRUSTEE 2.00 X 0 0 0 MICHAEL G JONES TRUSTEE 2.00 X 0 0 0 SCOTT BROWN TRUSTEE 2.00 X 0 0 0 SHEILA GIANCOLA TRUSTEE 2.00 X 0 0 0 BRETT A SANIDAS TRUSTEE 2.00 X 0 0 0 HENRIK GULMANN TRUSTEE 2.00 X 0 0 0 MARK A HUTKER TRUSTEE 2.00 X 0 0 0 ANN EGAN TRUSTEE 2.00 X 0 0 0 ANDREW KINGMAN TRUSTEE 2.00 X 0 0 0 JOHN HEYL TRUSTEE 2.00 X 0 0 0 RUSS LEMCKE TRUSTEE 2.00 X 0 0 0 LINDA BOARDMAN TRUSTEE A/O 3/8/17 2.00 X 0 0 0 ROBERT MUNIER TRUSTEE A/O 5/17/17 2.00 X 0 0 0 BETH COLT TRUSTEE/BOARD CHAIR 2.00 X X 0 0 0 COLLEEN C JOHNS TRUSTEE/SECRETARY 2.00 X X 0 0 0 CYNTHIA FELDMANN TRUSTEE/TREASURER 2.00 X X 0 0 0 STEPHEN A DUFFY HEAD OF SCHOOL 40.00 X 212657 0 53452 PATRICIA DOON BUSINESS MANAGER 40.00 X 114342 0 15841 MICHAEL EARLEY ASSISTANT HEAD OF SCHOOL 40.00 X 91402 0 74525 418401 0 143818 2 0 1 0 DELPHI CONSTRUCTION 17 CAPE DRIVE MASHPEE MA 02649 CONTRACTOR 1506314 ECK MACNEELY ARCHITECTS 560 HARRISON AVE 403 BOSTON MA 02118 ARCHITECT 184744 CAPE DESTINATIONS 182 QUEEN ANNE ROAD HARWICH MA 02645 TRANSPORTATION 143553 3 59558 1754060 803820 1813618 TUITION AND FEES 611600 5641604 5641604 SUMMER PROGRAM INCOME 611600 179162 179162 AUXILIARY INCOME 611600 91115 91115 5911881 113239 113239 29912 0 29912 29912 29912 2262845 2228863 127931 33982 -127931 -93949 -93949 21807 59558 64384 -42577 -42577 MISCELLANEOUS INCOME 611600 55086 55086 55086 7787210 5966967 0 6625 1302751 1302751 557210 422960 134250 2772229 1388670 1179783 203776 165916 84765 68201 12950 501836 212794 249429 39613 208115 109816 84953 13346 2853 2853 24170 24170 22145 22145 82670 82670 86553 54903 31650 68302 40178 10733 17391 43284 36232 7052 71862 71862 147861 147861 5791 5791 346389 329069 13856 3464 108114 102708 4325 1081 DEPARTMENTAL EXPENSES 91098 91098 REPAIRS AND MAINTENANCE 90281 85767 3611 903 INSTRUCTION EXPENSE 64524 64524 MISCELLANEOUS 55836 1505 37756 16575 146721 84511 47007 15203 6966511 4637765 1972794 355952 610987 1566802 990646 162784 713205 520896 39941 100016 150000 80000 97998 169405 16558351 4614359 8562385 11943992 8155304 7557014 19320466 22100909 453683 1593890 1200977 1357786 1654660 2951676 X 11906027 14754897 3098970 1541307 2660809 2853029 17665806 19149233 19320466 22100909 820699 662728 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 6650774 329185 781108 204053 7557014 4806742 2100390 -58422 197936 6650774 4024753 732296 173679 123986 4806742 5090473 -962390 103330 4024753 3787243 1427564 68035 69814 122555 5090473 0.48650 0.36670 0.14680 0 0 250600 250600 14497437 3509031 10988406 921329 402171 519158 477806 430841 46965 411179 272316 138863 11943992 7125042 662728 -1324896 -662168 7787210 0 7787210 5641615 0 5641615 22145 1302751 1324896 6966511 PART V, LINE 4: THE ACADEMY'S ENDOWMENT CONSISTS OF APPROXIMATELY 5 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. IT'S ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY US GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENTS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE ACADEMY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A REASONABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. THE ENDOWMENT ASSETS ARE INVESTED WITH AN OBJECTIVE OF PRESERVING THE LONG-TERM, REAL PURCHASING POWER OF THE ASSETS WHILE PROVIDING A RELATIVELY PREDICTABLE AND GROWING STREAM OF ANNUAL DISTRIBUTION IN SUPPORT OF THE INSTITUTION. THE ENDOWMENT IS INVESTED IN A BALANCED PORTFOLIO OF EQUITIES AND FIXED INCOME INVESTMENTS. THE ACADEMY HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION, AN AMOUNT THAT CONSIDERS THE DISTRIBUTION IN RELATION TO THE TOTAL PERCENTAGE OF THE ENDOWMENT, AS WELL AS THE LONG TERM EXPECTED RETURN ON ITS ENDOWMENT. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIP AID -1,302,751. INVESTMENT EXPENSES -22,145. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP AID 1,302,751. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 IN ALL LOCAL MEDIA ADVERTISEMENTS AND PRINTED LITERATURE, THE ACADEMY INCLUDES A STATEMENT OF ITS NONDISCRIMINATORY POLICY. THIS INCLUDES NEWSPAPERS AND BROADCAST MEDIA. ON AN ANNUAL BASIS, THE ACADEMY COLLABORATES WITH OTHER PRIVATE SCHOOLS TO PLACE A FULL PAGE AD IN THE BOSTON GLOBE. THIS AD SPECIFICALLY DECLARES THE ACADEMY HAS A RACIALLY NONDISCRIMINATORY POLICY. ANNUAL SPRING EVENT 81365 59558 21807 51083 3101 5048 5152 81365 59558 21807 51083 3101 5048 5152 64384 -42577 1 FINANCIAL AID 99 1302751 PART I, LINE 2: FINANCIAL AID GRANTS ARE APPLIED TO EACH INDIVIDUAL STUDENT'S ACCOUNT AS A REDUCTION IN THE TUITION BALANCE. ONCE THE PARENT/GUARDIAN ACCEPTS THE GRANT, THE WRITTEN DOCUMENT IS SIGNED BY THE PARENT/GUARDIAN AND THE SCHOOL. THE FIRST HALF OF THE FINANCIAL AID IS GIVEN TO THE STUDENT IN AUGUST AND THE SECOND HALF IS GIVEN IN DECEMBER. THE AMOUNT THE STUDENT HAS ACCEPTED IS TRACKED THROUGHOUT THE YEAR. FORM 990, SCHEDULE I, PART III, LINE A FINANCIAL AID IS DETERMINED BY THE FAMILY'S NEED. FALMOUTH ACADEMY USES SCHOOL AND STUDENT SERVICES BY THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (SSS BY NAIS) AS A BENCHMARK. THE FAMILY FILLS OUT A PERSONAL FINANCIAL STATEMENT AND UPLOADS TAX INFORMATION WITH THEIR APPLICATION THROUGH SSS BY NAIS. A COMMITTEE CONSISTING OF ADMISSIONS, THE BUSINESS MANAGER, HEAD OF SCHOOL AND FACULTY MEMBERS REVIEW THE APPLICATIONS AND OFFER ASSISTANCE BASED ON NEED. X 1 1 X 0 0 0 0 0 0 0 0 0 STEPHEN A DUFFY HEAD OF SCHOOL 212657 0 0 0 0 0 14800 0 38652 0 266109 0 0 0 MICHAEL EARLEY ASSISTANT HEAD OF SCHOOL 91402 0 0 0 0 0 8161 0 66364 0 165927 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL RECEIVES A HOUSING ALLOWANCE. STEPHEN DUFFY HEAD OF SCHOOL TO PROVIDE A LOAN FOR PURCHASE OF PRINCIPAL RESIDENCE. X 150000 80000 0 1 1 80000 X 9 752737 FMV AT DONATION X AUCTION ITEMS 235 51083 FMV AT DONATION 0 0 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS FOR "AUCTION ITEMS" REPRESENTS THE NUMBER OF ITEMS DONATED. THE NUMBER OF CONTRIBUTIONS FOR SECURITIES-PUBLICLY TRADED REPRESENTS THE NUMBER OF INDIVIDUALS WHO DONATED SECURITIES. FORM 990, PART VI, SECTION B, LINE 11B ONCE THE 990 IS PREPARED, IT IS SCHEDULED FOR DISCUSSION AT THE NEXT FINANCE COMMITTEE MEETING. THE FINANCE COMMITTEE WILL REVIEW AND APPROVE THE RETURN FOR FILING. COPIES OF THE 990 WILL BE MADE AVAILABLE TO THE TRUSTEES AFTER APPROVAL. THE FORM 990 IS THEN SIGNED BY THE AUTHORIZED INDIVIDUAL. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL'S CONFLICT OF INTEREST POLICY APPLIES TO ALL TRUSTEES OF THE BOARD. EACH TRUSTEE MUST DISCLOSE ANNUALLY ANY POTENTIAL CONFLICTS. THE COMMITTEE OF TRUSTEES REVIEWS EACH PROPOSED TRANSACTION THAT MIGHT GIVE RISE TO A CONFLICT. IF A CONFLICT IS DETERMINED TO EXIST, THE TRUSTEE WILL DISCLOSE ALL MATERIAL FACTS AT THE BOARD MEETING AND THEN LEAVE THE MEETING WHILE THE CONFLICT IS DISCUSSED AND VOTED UPON. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF TRUSTEES MEETS ON AN ANNUAL BASIS TO EVALUATE THE HEAD OF SCHOOL'S PERFORMANCE. THE BOARD CHAIR, FINANCE CHAIR AND EXECUTIVE COMMITTEE NEGOTIATE THE COMPENSATION FOR THE HEAD OF SCHOOL AND A LAWYER ON THE BOARD REVIEWS THE AGREEMENT TO MAKE SURE THE CONTRACT DOES NOT VIOLATE ANY LAWS. THIS PROCESS WAS LAST FOLLOWED IN JANUARY 2017 TO SET THE COMPENSATION FOR THE HEAD OF SCHOOL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S DOCUMENTS ARE AVAILABLE UPON REQUEST.