2018-05-14T09:38:00-05:00 2017-06-30 560570567 D M J & CO PLLC 703 GREEN VALLEY ROAD SUITE 201 GREENSBORO NC 27408 990 2016-07-01 560812560 CAROLINA FRIENDS SCHOOL CARO 9193836602 4809 FRIENDS SCHOOL ROAD DURHAM NC 27705 KAREN CUMBERBATCH HEAD OF SCHOOL 9193836602 2018-04-30 1 ARTHUR M WINSTEAD JR CPA P00002868 3362759886 174.46.138.125 2018-04-30 09:47:30 ED P 3E9930B017F0199CA4497B679F1A5AFDAF47BFE4 CF2809B450BEC3A06A8C2DF80AEF1E7257BAB2DD 2016 2021-01-29 14:40:06Z KAREN CUMBERBATCH 4809 FRIENDS SCHOOL ROAD DURHAM NC 27705 13567322 0 X WWW.CFSNC.ORG X 1962 NC CAROLINA FRIENDS SCHOOL IS A VIBRANT AND INCLUSIVE LEARNING COMMUNITY EMPOWERING STUDENTS TO THINK CRITICALLY, CREATIVELY, AND INDEPENDENTLY. WE FOSTER ACTIVE EXPLORATION AND QUIET REFLECTION, INDIVIDUAL ENDEAVOR AND COLLABORATIVE ENGAGEMENT. INSPIRED BY QUAKER VALUES PURSUIT OF TRUTH, RESPECT FOR ALL, PEACEFUL RESOLUTION OF CONFLICT, SIMPLICITY, THE CALL TO SERVICE, WE TEACH OUR CHILDREN THAT IT IS POSSIBLE TO CHANGE THE WORLD. 22 21 265 200 0 0 984425 1145292 10116746 10721665 114208 1700365 2416 0 11217795 13567322 993537 1127224 0 0 7380470 7654032 0 0 488171 2508111 2685803 10882118 11467059 335677 2100263 31356577 39103825 4958394 10242845 26398183 28860980 X CAROLINA FRIENDS SCHOOL IS A VIBRANT AND INCLUSIVE LEARNING COMMUNITY EMPOWERING STUDENTS TO THINK CRITICALLY, CREATIVELY, AND INDEPENDENTLY. WE FOSTER ACTIVE EXPLORATION AND QUIET REFLECTION, INDIVIDUAL ENDEAVOR, AND COLLABORATIVE ENGAGEMENT. INSPIRED BY QUAKER VALUES, PURSUIT OF TRUTH, RESPECT FOR ALL, PEACEFUL RESOLUTION OF CONFLICT, SIMPLICITY, THE CALL TO SERVICE, WE TEACH OUR CHILDREN THAT IT IS POSSIBLE TO CHANGE THE WORLD. 0 0 8112311 1127224 9667665 PROVIDE EDUCATION TO STUDENTS FROM PRESCHOOL (3YEARS OLD) THROUGH UPPER SCHOOL (12TH GRADE). AT CAROLINA FRIENDS SCHOOL, LEARNING IS DYNAMIC, EXPERIENTIAL, AND INTERACTIVE. STUDENTS ENCOUNTER OPEN-ENDED QUESTIONS, UNDERTAKE ORIGINAL PROJECTS OF REAL RELEVANCE, EXPLORE THE NATURAL WORLD, AND IMMERSE THEMSELVES IN SERVICE LEARNING. IN DOING SO, THEY BUILD IMPRESSIVE POWERS OF CRITICAL, CREATIVE, AND INDEPENDENT THINKING AND EXPRESSION. IT IS AN EXCEPTIONAL EDUCATION SHAPED BY A CLEAR SET OF BELIEFS, A COMMITMENT TO QUAKER VALUES, A LOVE OF CHILDREN, AND A SENSE OF HOPE FOR THE COMMUNITIES, LOCAL AND GLOBAL, THEY WILL SOON LEAD AND SERVE. AT THE END OF THE SCHOOL YEAR 2016/2017, THERE WERE 511 STUDENTS ENROLLED IN THE SCHOOL. 1014458 1054000 AUXILIARY SERVICES FOR CAROLINA FRIENDS SCHOOL INCLUDE AFTER SCHOOL CARE AND SUMMER PROGRAMS. AFTER SCHOOL CARE IS OFFERED IN THE LOWER AND MIDDLE SCHOOLS UNTIL 5:45 PM EACH SCHOOL DAY. OUR SUMMER PROGRAMS OFFER A VARIETY OF WEEKLY CAMPS TO THE COMMUNITY. THE CAMPS ARE EXTREMELY SUCCESSFUL AND PROVIDE AN OUTREACH TO A WIDE VARIETY OF FAMILIES IN THE AREA. THERE WERE APPROXIMATELY 1,200 STUDENTS INVOLVED IN AUXILIARY ACTIVITIES IN SCHOOL YEAR 2016/2017. MANY STUDENTS ARE INVOLVED IN MORE THAN ONE ACTIVITY. 9126769 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 41 0 1 265 1 0 0 0 0 0 0 0 0 0 0 X 22 21 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X KATIE COLLINI 9193836602 4809 FRIENDS SCHOOL RD DURHAM NC 27705 BOND TOM DIRECTOR 1.00 X 0 0 0 CHAPMAN LARRY DIRECTOR 1.00 X 0 0 0 CLINTON CYNTHIA DIRECTOR 1.00 X 0 0 0 DILIBERTI JOHN DIRECTOR 1.00 X 0 0 0 DRAKE MATT RECORDING CLERK 1.00 X X 0 0 0 FODCHUK AMOS DIRECTOR 1.00 X 0 0 0 MOONEY HOPIE FULKERSON DIRECTOR 1.00 X 0 0 0 JENKINS BILL DIRECTOR 1.00 X 0 0 0 KUHN MARK TREASURER 1.00 X X 0 0 0 KLOPFER MARTHA DIRECTOR 1.00 X 0 0 0 KLOPFER PETER DIRECTOR 1.00 X 0 0 0 MANN PAT DIRECTOR 1.00 X 0 0 0 RICHARDSON JOHN DIRECTOR 1.00 X 0 0 0 RINGWALT CHRIS DIRECTOR 1.00 X 0 0 0 SAFI OMID DIRECTOR 1.00 X 0 0 0 ST CLAIR JOHN DIRECTOR 1.00 X 0 0 0 SMITH CHARI DIRECTOR 1.00 X 0 0 0 TRUAX HAWLEY DIRECTOR 1.00 X 0 0 0 VANGSNES NIKKI DIRECTOR 1.00 X 0 0 0 VELTO BILL DIRECTOR 1.00 X 0 0 0 WEBBER BUFFIE DIRECTOR 1.00 X 0 0 0 WONG FELIX DIRECTOR 1.00 X 0 0 0 COLLINI KATIE DIRECTOR OF FINANCE AND HU 40.00 X 102589 0 26147 PRILLAMAN ANTHOLENE INTERIM HEAD OF SCHOOL 40.00 X 120916 0 10698 GUILLORY SHARON DIRECTOR OF TECHNOLOGY 40.00 X 105488 0 10341 328993 0 47186 3 0 0 0 CT WILSON PO BOX 2011 DURHAM NC 27702 CONSTRUCTION SERVICES 883378 UNITED HEALTHCARE PO BOX 959782 ST LOUIS MO 631959782 HEALTH CARE INSURANCE 522924 BANK OF AMERICA PO BOX 15184 WILMINGTON DE 198505184 BANKING SERVICES 367233 WHOLE FOODS MARKET 81 SOUTH ELLIOT CHAPEL HILL NC 27514 GROCERY CARDS 207600 WEINSTEIN FRIEDLEIN ARCHITECTS 302 W PETTIGREW ST DURHAM NC 27701 ARCHITECTURAL SERVICES 185371 7 1145292 134310 1145292 TUITION AND FEES 611110 9667665 9667665 AUXILIARY SERVICES 611110 1054000 1054000 10721665 115647 115647 1584718 0 1584718 1584718 1584718 13567322 10721665 0 1700365 1127224 1127224 301870 42376 217117 42377 5391734 4440907 810238 140589 305442 254132 41164 10146 1238048 1016259 173379 48410 416938 333504 66845 16589 10185 10185 43802 43802 78649 78649 92069 90069 2000 184986 181011 2752 1223 145930 145930 366390 337356 19356 9678 55368 50980 2925 1463 OPERATING SUPPLIES 732057 616084 91480 24493 PHYSICAL PLANT REPIARS 447067 419254 20664 7149 BAD DEBT COLLECTIONS 170984 170984 STAFF DEVELOPMENT AND C 127824 112928 10944 3952 230492 194754 26620 9118 11467059 9126769 1852119 488171 101 104 7062143 12553175 727181 297401 988363 1199728 183285 258221 17503714 4155946 12392856 13347768 9931423 11376203 71225 71225 31356577 39103825 686121 903964 3824869 3892035 5049824 447404 397022 4958394 10242845 X 15049557 16522452 4879594 5813264 6469032 6525264 26398183 28860980 31356577 39103825 2100263 362534 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10068029 56232 2026620 81114 426437 78649 11564681 10594716 421 -455645 71463 10068029 11359675 132 -3378 80371 631400 49942 10594716 9244532 2525324 80066 281674 48441 11359675 7989904 5243 1662483 77407 275941 59750 9244532 0.17000 0.56000 0.27000 0 0 2426291 2426291 11624233 3620408 8003825 3453190 535538 2917652 13347768 LIABILITY UNDER LIFE ESTATE-PRESENT VALUE-CHARITABLE REMAINDER TRUST 397022 397022 X 12802632 362534 362534 12440098 1127224 1127224 13567322 10339835 0 10339835 1127224 1127224 11467059 PART V, LINE 4: THE MAJORITY OF OUR ENDOWMENT IS FOR STAFF SALARIES AND TUITION AID FOR OUR STUDENTS. WE ALSO HAVE AN ENDOWMENT FOR MAINTENANCE, STAFF DEVELOPMENT, TECHNOLOGY, OUR YEAR END SERVICE PROJECTS, ATHLETICS AND ADVANCING OUR MISSION. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. BASED ON ALL KNOWN FACTS AND CIRCUMSTANCES AND CURRENT TAX LAW, THE SCHOOL BELIEVES THE TOTAL AMOUNT OF UNCERTAIN INCOME TAX POSITION LIABILITIES AND RELATED ACCRUED INTEREST ARE NOT MATERIAL TO ITS FINANCIAL POSITION. AS OF JUNE 30, 2017 AND INCLUDING THE PREVIOUS THREE YEARS CONSIDERING EXTENSIONS, THE SCHOOL'S FORM 990 IS OPEN AND SUBJECT TO EXAMINATION BY TAX AUTHORITIES WITH RELEVANT JURISDICTION. SHOULD SUCH AN EXAMINATION TAKE PLACE, MANAGEMENT DOES NOT ANTICIPATE ANY SIGNIFICANT ISSUES RELATED TO THE OPEN YEARS. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED ON AUDITED FINANCIAL STATEMENTS 1,127,224. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED ON AUDITED FINANCIAL STATEMENTS 1,127,224. SCHEDULE D, PART XII LINE 4B SCHEDULE D, PART XII LINE 4B: FINANCIAL AID IS DEDUCTED IN THE AUDITED FINANCIAL STATEMENTS FROM REVENUES AND EXPENSES FOLLOWING THE PRINCIPAL THAT AID IS PREDOMINATELY TUITION DISCOUNT. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 WE USE OUR WEBSITE TO PROVIDE OUR NONDISCRIMINATORY POLICY TO THE GENERAL PUBLIC. 1 FINANCIAL AID ASSISTANCE TOWARDS THE COST OF ATTENDING CAROLINA FRIENDS SCHOOL 130 1127224 ACTUAL FINANCIAL AID AWARDED EACH STUDENT'S ACCOUNT IS CREDITED THE AMOUNT OF THE FINANCIAL AID AWARD. THIS AMOUNT OFFSETS THE AMOUNT OF TUITION. CAROLINA FRIENDS SCHOOL USES THE TADS SYSTEM TO PROVIDE A FAIR ANALYSIS OF FINANCIAL DATA SUBMITTED BY PARENTS TO RECEIVE FINANCIAL AID. OUR FINANCIAL AID BUDGET IS 11.88% OF THE BUDGETED TUITION REVENUE AND COMES FROM A COMBINATION OF TUITION DISCOUNTING AND FINANCIAL AID ENDOWMENT EARNINGS. PARENTS APPLY FOR FINANCIAL AID ANSWERING QUESTIONS ABOUT THEIR FINANCES AND LATEST TAX RETURNS. THE TADS SYSTEM ANALYZES THE DATA SUBMITTED AND MAKES RECOMMENDATIONS FOR THE LEVEL OF FUNDING THE SCHOOL SHOULD AWARD. OUR FINANCIAL AID COMMITTEE MEETS AND DISCUSSES EVERY FINANCIAL AID APPLICATION. THE SCHOOL AWARDS UP TO 90% OF TUITION COSTS BASED ON THE TADS INFORMATION. FINANCIAL AID AWARDS DEPEND ON THE BUDGETED AMOUNT FOR FINANCIAL AID AND THE NUMBER OF APPLICANTS APPLYING FOR AID IN A GIVEN YEAR AS WELL AS THE TADS INFORMATION. PART I, LINE 2: EACH STUDENT'S ACCOUNT IS CREDITED THE AMOUNT OF THE FINANCIAL AID AWARD. THIS AMOUNT OFFSETS THE AMOUNT OF TUITION. CAROLINA FRIENDS SCHOOL USES THE TADS SYSTEM TO PROVIDE A FAIR ANALYSIS OF FINANCIAL DATA SUBMITTED BY PARENTS TO RECEIVE FINANCIAL AID. OUR FINANCIAL AID BUDGET IS 11.8% OF THE BUDGETED TUITION REVENUE AND COMES FROM A COMBINATION OF TUITION DISCOUNTING AND FINANCIAL AID ENDOWMENT EARNINGS. PARENTS APPLY FOR FINANCIAL AID ANSWERING QUESTIONS ABOUT THEIR FINANCES AND LATEST TAX RETURNS. THE TADS SYSTEM ANALYZES THE DATA SUBMITTED AND MAKES RECOMMENDATIONS FOR THE LEVEL OF FUNDING THE SCHOOL SHOULD AWARD. OUR FINANCIAL AID COMMITTEE MEETS AND DISCUSSES EVERY FINANCIAL AID APPLICATION. THE SCHOOL AWARDS UP TO 90% OF TUITION COSTS BASED ON THE TADS INFORMATION. FINANCIAL AID AWARDS DEPEND ON THE BUDGETED AMOUNT FOR FINANCIAL AID AND THE NUMBER OF APPLICANTS APPLYING FOR AID IN A GIVEN YEAR AS WELL AS THE TADS INFORMATION. X X X X 0 0 0 0 0 0 0 0 0 PART I, LINE 3 THE PRINCIPAL'S PERFORMANCE IS REVIEWED ANNUALLY BY A BOARD COMMITTEE AND HIS SALARY IS SET BY THE BOARD OF TRUSTEES WITH THE DELIBERATION NOTED IN THE BOARD'S MEETING MINUTES. PERIODICALLY THE BOARD COMMITTEE WILL REVIEW THE PRINCIPAL'S SALARY AGAINST BENCHMARKS (WITH PEER INSTITUTIONS, SOUTHERN ASSOCIATION OF INDEPENDENT SCHOOLS, AND FRIENDS COUNCIL ON EDUCATION PROVIDING BENCHMARK INFORMATION)FOR APPROPRIATENESS. IN YEARS WITHOUT SUBSTANTIAL CHANGE TO THE PRINCIPAL'S SALARY, THE PRINCIPAL'S SALARY IS ADJUSTED THE SAME AS OTHER STAFF. FINAL DECISIONS ARE COMMUNICATED IN WRITING TO THE PRINCIPAL IN THE FORM OF A CONTRACT. BOARD MEMBERS ARE NOT COMPENSATED BY THE SCHOOL. A PUBLIC FINANCE AUTHORITY 273866124 74443DBL4 2016-10-01 5310000 FINANCE BOND ISSUANCE COSTS, REQUIRED RESERVE, BUILDINGS AND STRUCTURES 0 0 0 A 5310000 303366 260177 4746457 0 0 1 1 A 1 0 0 0 0 0 SCHEDULE K PART I LINE A NAME OF ISSUE IS EDUCATIONAL FACILITES REVENUE BONDS (CAROLINA FRIENDS SCHOOL), SERIES 2016 NIKKI VANGSNES BOARD MEMBER IS SPOUSE OF CFS STAFF PERSON 55924 SALARY AND WAGES PAID TO STAFF PERSON SPOUSE JAMIE HYSJULIEN 0 HOPIE MOONEY BOARD MEMBER IS SISTER OF CFS STAFF PERSON 42652 SALARY AND WAGES PAID TO CFS STAFF PERSON WILLIAM FULKERSON 0 X 16 148347 AVERAGE MARKET VALUE 0 1 1 PART I, LINE 32B: THE SCHOOL UTILIZES AN INDEPENDENT BROKER TO SELL NON CASH GIFT CONTRIBUTIONS OF STOCK AND SECURITIES FORM 990, PART VI, SECTION A, LINE 2 THE COMMUNITY WHERE THE ORGANIZATION IS LOCATED IS A SMALL TO MEDIUM SIZED COMMUNITY AND IN THE COURSE OF BUSINESS BOARD MEMBERS AND TRUSTEES MAY HAVE BUSINESS RELATIONSHIPS WITH EACH OTHER. TWO BOARD MEMBERS HAVE A FAMILIAL RELATIONSHIP WITH EACH OTHER. FORM 990, PART VI, SECTION B, LINE 11B AN ELECTRONIC COPY OF THE FORM 990 RETURN IS SENT TO ALL BOARD OF TRUSTEE MEMBERS. THEY ARE ENCOURAGED TO REVIEW THE FORM 990 RETURN AND ARE GIVEN AN OPPORTUNITY TO ASK QUESTIONS PRIOR TO THE FILING OF THE 990. FORM 990, PART VI, SECTION B, LINE 12C BOARD OF TRUSTEE MEMBERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT AT THE FIRST BOARD MEETING OF THE SCHOOL YEAR. ANY POTENTIAL AREAS OF CONFLICT ARE REFLECTED ON THE SIGNED STATEMENT. EACH BOARD MEMBER IS RESPONSIBLE FOR IDENTIFYING ANY AREA HE/SHE THINKS MAY BE A CONFLICT OF INTEREST WHEN A TOPIC IS BROUGHT UP AT A BOARD MEETING OR A COMMITTEE MEETING. IF THE GROUP DETERMINES THERE MAY BE A CONFLICT OF INTEREST, THE MEMBER WILL EXCUSE HIM/HERSELF FROM THE DISCUSSION. FORM 990, PART VI, SECTION B, LINE 15A THE PRINCIPAL'S PERFORMANCE IS REVIEWED ANNUALLY BY A BOARD COMMITTEE AND HIS SALARY IS SET BY THE BOARD OF TRUSTEES WITH THE DELIBERATION NOTED IN THE BOARD'S MEETING MINUTES. PERIODICALLY THE BOARD COMMITTEE WILL REVIEW THE PRINCIPAL'S SALARY AGAINST BENCHMARKS (WITH PEER INSTITUTIONS, SOUTHERN ASSOCIATION OF INDEPENDENT SCHOOLS, AND FRIENDS COUNCIL ON EDUCATION PROVIDING BENCHMARK INFORMATION)FOR APPROPRIATENESS. IN YEARS WITHOUT SUBSTANTIAL CHANGE TO THE PRINCIPAL'S SALARY, THE PRINCIPAL'S SALARY IS ADJUSTED THE SAME AS OTHER STAFF. FINAL DECISIONS ARE COMMUNICATED IN WRITING TO THE PRINCIPAL IN THE FORM OF A CONTRACT. BOARD MEMBERS ARE NOT COMPENSATED BY THE SCHOOL. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS 990 AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS RESIDE IN THE OFFICE OF THE DIRECTOR OF FINANCE AND HUMAN RESOURCES. ANYONE INTERESTED IN THESE DOCUMENTS CAN SEE THEM DURING THE DIRECTOR OF FINANCE AND HUMAN RESOURCES OFFICE HOURS 8:30AM - 4:30PM MONDAY THROUGH FRIDAY. FORM 990 PART XII, LINE 2C THE BOARD OF TRUSTEES DELEGATES THE OVERSIGHT OF THE AUDIT OF THE ORGANIZATION'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT TO THE BOARD OF TRUSTEES AUDIT COMMITTEE. FORM 990 PART VIII, LINE 7D NNET GAIN (LOSS) ORGANIZATION REPORTS THE NET REALIZED GAIN FROM SALES OF INVESTMENTS IN PART VIII, LINE 7D. THE ORGANIZATION HAS ALL INVESTMENT STATEMENTS IN THEIR POSSESSION TO SUPPORT THE BASIS AND SALES PROCEEDS CREATING THE NET REALIZED GAIN.