2018-11-21T09:39:27-06:00 2018-06-30 020354851 MELANSON HEATH & COMPANY PC 102 PERIMETER ROAD NASHUA NH 03063 990 2017-07-01 030179305 PUTNEY SCHOOL INC PUTN 8023876215 418 HOUGHTON BROOK ROAD PUTNEY VT 053468675 RANDALL D SMITH CFO 8023876245 2018-11-19 1 SHERYL L STEPHENS-BURKE CPA P00085224 6038821111 2018-11-19 50.203.169.2 2018-11-19 15:16:05 ES P 6B864AE33D3E1C28D72B804D47C2220E22704533 503DDD5A37B526D793170ABE6C34E1FFA97C1C27 2017 2019-02-21 02:37:17Z JOSHUA LAUGHLIN 418 HOUGHTON BROOK ROAD PUTNEY VT 053468675 24495274 0 X WWW.PUTNEYSCHOOL.ORG X 1935 VT INDEPENDENT, COEDUCATIONAL BOARDING AND DAY SECONDARY SCHOOL 24 21 312 193 0 0 6167187 1997624 12908834 12922523 659908 1500653 77845 33687 19813774 16454487 3207127 3188965 0 0 6313371 6453864 0 0 634786 5868509 6016091 15389007 15658920 4424767 795567 48231772 49042466 4253073 4213615 43978699 44828851 X THE ORGANIZATION IS COMMITTED TO DEVELOPING EACH STUDENT'S FULL INTELLECTUAL, ARTISTIC AND PHYSICAL POTENTIAL. STUDENTS ARE ENCOURAGED TO CHALLENGE THEMSELVES INTELLECTUALLY, TO PURSUE RIGOROUS LEARNING FOR ITS OWN SAKE, TO ACTIVELY PARTICIPATE IN AND APPRECIATE THE ARTS, TO CONTRIBUTE MEANINGFULLY TO THE WORK PROGRAM THAT SUSTAINS THE SCHOOL COMMUNITY AND THE FARM ON WHICH IT IS LOCATED, TO ENGAGE IN VIGOROUS ATHLETICS, AND TO DEVELOP A SOCIAL CONSCIOUSNESS AND WORLD VIEW THAT WILL PROVIDE THE FOUNDATION FOR LIFE-LONG MORAL AND INTELLECTUAL GROWTH. (ADOPTED 06/08/97) 0 0 11470612 3188965 12922523 THE PUTNEY SCHOOL PROVIDES AN EDUCATIONAL PROGRAM FOR APPROXIMATELY 239 HIGH SCHOOL STUDENTS IN A COEDUCATIONAL BOARDING SCHOOL SETTING. 11470612 1 1 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 51 0 1 312 1 0 0 0 0 0 0 0 0 X 24 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 VT X RANDALL D SMITH CFO 8023876245 PUTNEY SCHOOL ELM LEA FARM PUTNEY VT 05346 TONIA WHEELER VICE CHAIR 1.00 X 0 0 0 JOSHUA LAUGHLIN PRESIDENT 1.00 X 0 0 0 KATY WOLFE CLERK 1.00 X 0 0 0 PAUL FEARER TRUSTEE 1.00 X 0 0 0 JOHN BIDWELL TRUSTEE 1.00 X 0 0 0 DANIEL BLOOD TRUSTEE 1.00 X 0 0 0 DINAH BUECHNER-VISCHER TRUSTEE 1.00 X 0 0 0 LEE COMBRINCK-GRAHAM TRUSTEE 1.00 X 0 0 0 ELIZABETH BLAYLOCK TRUSTEE 1.00 X 0 0 0 JOSHUA GOLDBERG TRUSTEE 1.00 X 0 0 0 STEPHEN P HEYNEMAN TRUSTEE 1.00 X 0 0 0 WILLIAM P KELLETT TRUSTEE 1.00 X 0 0 0 LAVINIA CURRIER TRUSTEE 1.00 X 0 0 0 DANIEL GARCIA-GALILI FACULTY/TRUSTEE 40.00 X 37850 0 10198 EMMANUEL KEPPEL TRUSTEE 1.00 X 0 0 0 CHRISTOPHER LEHMANN-HAUPT TRUSTEE 1.00 X 0 0 0 THAO MATLOCK TRUSTEE 1.00 X 0 0 0 GRETA WOLFE TRUSTEE 1.00 X 0 0 0 DAWN ZWEIG FACULTY/TRUSTEE 1.00 X 30650 0 2663 NATASHA OSBORNE BYUS TRUSTEE 1.00 X 0 0 0 IRIS WANG TRUSTEE 1.00 X 0 0 0 JAMES THOMPSON TRUSTEE 1.00 X 0 0 0 IRA WENDER VICE CHAIR 1.00 X 0 0 0 ELIZABETH HOLMES FACULTY/TRUSTEE 40.00 X 29600 0 4084 RANDALL SMITH TREASURER/CFO 40.00 X 138000 0 22962 EMILY JONES HEAD OF SCHOOL 40.00 X 187050 0 17929 JOHN BARRENGOS ADMISSIONS DIRECTOR 40.00 X 122000 0 21933 HUGH MONTGOMERY DIRECTOR OF DEVELOPMENT 40.00 X 111000 0 16987 656150 0 96756 4 0 1 0 ALADDIN FOOD MANAGEMENT SERVICES LLC 2400 ANSYS DRIVE SUITE 404 CANONSBURG PA 15317 DINING HALL SERVICE 708812 MACMILLIN COMPANY LLC 17 ELM ST KEENE NH 03431 CONSTRUCTION 239276 DERRIG EXCAVATING INC 41 HOUGHTON BROOK RD PUTNEY VT 05346 EXCAVATING 102045 3 1997624 167947 1997624 TUITION AND FEES 900099 12485652 12485652 TUTORING 900099 241895 241895 LAND USE REVENUE 900099 111504 111504 OTHER CHARGES AND TUITION 900099 83472 83472 12922523 538284 538284 9003156 8040787 962369 962369 962369 BOOKSTORE 611710 25729 25729 APPLICATION FEE REVENUE 611710 6600 6600 OTHER 611710 1358 1358 33687 16454487 12922523 0 1534340 3188965 3188965 487978 112447 375531 4498866 3429318 648675 420873 321635 249549 40969 31117 731522 591235 94277 46010 413863 314092 69589 30182 61832 61832 34665 34665 164874 164874 39465 39465 17711 17711 39781 4720 32025 3036 33909 33909 779134 779134 152203 74661 50463 27079 6079 3925 2154 56410 56410 1191298 1191298 245958 245958 INSTRUCTIONAL EXPENSES 1454695 1454695 RESIDENTIAL EXPENSES 829601 829601 LAND USE EXPENSES 260133 260133 SUMMER PROGRAM 178137 178137 470206 393717 76489 15658920 11470612 3553522 634786 3138254 3648090 1620723 440710 92478 196476 122284 128898 78601 118975 36771964 18662196 18754767 18109768 24424665 26399549 48231772 49042466 312409 221625 1959023 2043733 1981641 1886669 0 61588 4253073 4213615 X 22130693 21717083 4062161 4890401 17785845 18221367 43978699 44828851 48231772 49042466 795567 54585 0 X 0 1 X 1 0 X X X 1 72.00 0 1 0 0.00 0 X X 0 24397737 953345 1390364 344104 26397342 22047493 2166539 2084724 1901019 24397737 21697696 1604882 -261161 993924 22047493 20902668 1461137 192069 858178 21697696 18679883 1925461 2071807 1774484 20902668 0.20000 0.66000 0.14000 0 0 93652 93652 32577270 15255360 17321910 3887628 3406836 480792 213414 213414 18109768 OTHER LIABILITIES 61588 61588 X 13155233 54585 54585 13100648 164874 3188965 3353839 16454487 12305081 0 12305081 164874 3188965 3353839 15658920 PART III, LINE 1A: COLLECTIONS: THE SCHOOL'S COLLECTION IS COMPRISED OF VARIOUS ART OBJECTS THAT ARE HELD FOR EDUCATIONAL AND CURATORIAL PURPOSES. THE SCHOOL IS CURRENTLY IN THE PROCESS OF CATALOGING EACH PIECE. EACH ITEM IS CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION, ARE PERFORMED REGULARLY. THE SCHOOL HAS NOT ADOPTED A POLICY TO CAPITALIZE ITS COLLECTIONS; THEREFORE, IN ACCORDANCE WITH FASB 116, CONTRIBUTIONS OF ARTWORK ARE NOT RECOGNIZED IN REVENUE. IN THE EVENT OF THE SALE OF CONTIBUTED ARTWORK, THE SCHOOL RECOGNIZES THE PROCEEDS AND INCREASES THE APPROPRIATE CLASS OF NET ASSETS. PART V, LINE 4: SEE DETAILED DESCRIPTION OF THE INTENDED USE OF ENDOWMENT FUNDS ON THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS. PART X, LINE 2: THE PUTNEY SCHOOL, INC. IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). THE SCHOOL HAS ALSO BEEN CLASSIFIED AS AN ENTITY THAT IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) AND QUALIFIES FOR DEDUCTIBLE CONTRIBUTIONS. THE SCHOOL IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IF THE SCHOOL HAS INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO ITS EXEMPT PURPOSE IT WOULD NEED TO FILE AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS. THE SCHOOL FOLLOWS FASB ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. FASB ASC 740-10 DID NOT HAVE A MATERIAL IMPACT ON THE SCHOOL'S FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: TUITION REDUCED BY FINANCIAL AID 3,188,965. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REDUCTIONS AGAINST TUITION 3,188,965. 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 POLICY IS STATED IN LITERATURE AND BROCHURES PROVIDED TO ALL CURRENT AND POTENTIAL STUDENTS. IT IS ALSO PUBLISHED IN LOCAL NEWSPAPERS AND ON THE SCHOOL'S WEBSITE. 0 0 0 0 0 0 0 0 0 0 FINANCIAL AID GIVEN BY THE ORGANIZATION TO FOREIGN STUDENTS ATTENDING THE SCHOOL. INDIA 56800 REDUCTION IN TUITION FOR STUDENTS WHO QUALIFY FOR FINANCIAL AID. FMV FINANCIAL AID GIVEN BY THE ORGANIZATION TO FOREIGN STUDENTS ATTENDING THE SCHOOL. FRANCE 27000 REDUCTION IN TUITION FOR STUDENTS WHO QUALIFY FOR FINANCIAL AID. FMV 0 0 0 0 0 0 0 FINANCIAL AID GIVEN BY THE ORGANIZATION TO STUDENTS ATTENDING THE SCHOOL. 95 2693565 FMV REDUCTION IN TUITION FOR STUDENTS WHO QUALIFY FOR FINANCIAL AID. X 1 1 X 0 0 0 0 0 0 0 0 0 RANDALL SMITH TREASURER/CFO 138000 0 0 0 0 0 6283 0 16679 0 160962 0 0 0 EMILY JONES HEAD OF SCHOOL 187050 0 0 0 0 0 9353 0 8576 0 204979 0 0 0 X 1693 167947 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER AND CONTROLLER AND IS THEN PRESENTED TO THE AUDIT COMMITTEE FOR REVIEW, AND EXECUTIVE COMMITTEE FOR APPROVAL, BEFORE AFFIRMATION BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REVIEWS THE POLICY EACH YEAR. FORM 990, PART VI, SECTION B, LINE 15A THE HEAD OF SCHOOL'S SALARY IS DETERMINED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD AND IS AVAILABLE FOR REVIEW BY ANY SCHOOL BOARD MEMBER. EXECUTIVE COMPENSATION FOR ALL EMPLOYEES, OTHER THEN THE HEAD OF SCHOOL, IS SET BY SCHOOL MANANGEMENT. MANAGEMENT INCREASES ARE TIED TO STAFF AND FACULTY INCREASES. THERE IS ALSO A SCALE ASSOCIATED WITH TIME SERVED FOR FACULTY. TO SET SALARIES, A COMPARISON IS DONE BETWEEN SIMILAR POSITIONS AT SCHOOLS IN THE INDEPENDENT SCHOOL ASSOCIATION OF NORTHERN NEW ENGLAND (ISANNE). OUR GOAL IS TO HAVE MANAGEMENT AT OR NEAR THE MEDIAN OF THEIR PEER GROUP. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.