2018-03-09T15:07:50-06:00 2017-06-30 560574444 CHERRY BEKAERT LLP 1111 Metropolitan Ave Ste 1000 Charlotte NC 28204 990 2016-07-01 560935064 Cannon School Inc CANN 7047868171 5801 Poplar Tent Road Concord NC 28027 WHITNEY BROWN DIR. OF business and FINANCE 7047868171 2018-03-08 1 Amanda Adams P00748038 7043771678 68.142.180.174 2018-03-08 11:32:13 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 18694F53AD11E15FFCEA276DE93F63B2E746D691 2016 2021-01-29 14:40:06Z WHITNEY BROWN 5801 Poplar Tent Road Concord NC 28027 25612447 0 X WWW.CANNONSCHOOL.ORG X 1968 NC CANNON SCHOOL WAS FOUNDED IN 1968 AND IS A NON-PROFIT, INDEPENDENT SCHOOL THAT FOCUSES ON THE INDIVIDUAL STUDENT. THE SCHOOL OCCUPIES A 65-ACRE CAMPUS JUST OFF THE I-85 CORRIDOR IN CONCORD, NC. APPROXIMATELY 1,021 STUDENTS WERE ENROLLED AT THE SCHOOL DURING THE FISCAL YEAR 2016 IN GRADES JUNIOR KINDERGARTEN THROUGH 12TH GRADE. CANNON ENCOURAGES STUDENTS TO STRETCH TO THEIR FULLEST POTENTIAL AND BECOME ENGAGED STUDENTS AND OUTSTANDING CITIZENS. CANNON'S LOWER SCHOOL STRESSES ACADEMIC EXCELLENCE, WITH A BALANCE OF ENRICHMENT OPPORTUNITIES AND AN EMPHASIS ON CHARACTER DEVELOPMENT. CANNON'S MIDDLE SCHOOL PROVIDES A CLIMATE FOR EMERGING YOUNG ADULTS TO NURTURE THEIR LOVE OF LEARNING, STRENGTHEN THEIR SELF CONCEPT, AND EXPLORE EXTRACURRICULAR ACTIVITIES. CANNON'S UPPER SCHOOL DEDICATES ITSELF TO DEVELOPING TEACHING PRACTICES AND CURRICULUM THAT EQUIP STUDENTS TO LEARN HOW TO LEARN AND IS BASED ON A TRADITIONAL COLLEGE PREPARATORY CURRICULUM. 22 22 316 50 0 0 942635 4233610 19900931 20908029 62371 247482 72038 88788 20977975 25477909 2594453 2689602 0 0 12246519 13092960 0 0 554210 5444070 5508883 20285042 21291445 692933 4186464 40724676 45291206 13970235 13473436 26754441 31817770 PROVISION OF A QUALITY K-12 EDUCATIONAL PROGRAM WITHIN A SAFE, DIVERSE, AND CHALLENGING ENVIRONMENT. 0 0 17922178 2689602 20965965 INSTRUCTION - PRIMARY AND SECONDARY EDUCATION WHICH BENEFITS STUDENTS WITHOUT REGARD TO RACE, RELIGION, OR NATIONAL ORIGIN. The school served approximately 1,021 students during the 2016-17 school year.SPECIAL PROGRAMS, INCLUDING EXTENDED DAY CARE, AFTER SCHOOL PROGRAMS, AND SUMMER CAMP.AUXILIARY SERVICES INCLUDING BUS TRANSPORTATION FOR STUDENTS AND A SCHOOL STORE. 17922178 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 1 0 0 0 0 0 1 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 1 316 1 0 0 0 0 0 1 1 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X ANDREA TREMBATH 7047868171 5801 POPLAR TENT ROAD CONCORD NC 28027 Hans Peterson Board Chair 1.00 X X 0 0 0 Blake Evans Vice Chair 1.00 X X 0 0 0 Jim Michaels Treasurer 1.00 X X 0 0 0 Scott Wickerham Secretary 1.00 X X 0 0 0 Joan Ankrom Trustee 1.00 X 0 0 0 Kristin Baker Trustee 1.00 X 0 0 0 Michael Bitzer Trustee 1.00 X 0 0 0 Kathy Bray Trustee 1.00 X 0 0 0 Horace Bryan Trustee 1.00 X 0 0 0 Mark Fromke Trustee 1.00 X 0 0 0 Tom Kabasakalian Trustee 1.00 X 0 0 0 Jeff Leck Trustee 1.00 X 0 0 0 Harry McKay Trustee 1.00 X 0 0 0 Steve McLeod Trustee 1.00 X 0 0 0 Grey Mills Jr Trustee 1.00 X 0 0 0 Adam Ortiz Trustee 1.00 X 0 0 0 Jon Ter Poorten Trustee 1.00 X 0 0 0 Susan Schneider Trustee 1.00 X 0 0 0 Kym Selden Trustee 1.00 X 0 0 0 Nehal Thakkar Trustee 1.00 X 0 0 0 Bianca Wittgraefe Trustee 1.00 X 0 0 0 Victor Yang Trustee 1.00 X 0 0 0 Matthew Gossage Head of School 40.00 X 374913 0 53544 Whitney Brown Director of Business/Finan 40.00 X 119780 0 55790 Frederick Hartung Director of Advancement 40.00 X 113281 0 12878 Patrick Moyer Director of Athletics 40.00 X 138860 0 16082 Deb Otey Head of Upper School 40.00 X 111124 0 14654 857958 0 152948 5 0 1 0 0 40159 4193451 50080 4233610 TUITION AND FEES 900099 19400319 19400319 OTHER AUXILIARY ACTIVITIES 900099 535431 535431 CAMP CANNON FEES 900099 408952 408952 TRANSPORTATION FEES 900099 335658 335658 BEYOND THE BELL FEES 900099 227669 227669 20908029 182708 182708 31752 0 31752 31752 31752 91910 1300 28106 330 63804 970 64774 64774 18650 40159 19550 -900 -900 144488 86552 57936 57936 25477909 20965965 0 278334 2689602 2689602 525633 525633 10413867 8966481 1100831 346555 599306 505716 78519 15071 785007 626603 139316 19088 769147 612623 130683 25841 27532 27532 44177 44177 147187 147187 161144 80572 80572 213754 142574 71180 192510 128404 64106 1000859 713498 287361 202777 202777 1560631 1560631 144621 96462 48159 curriculum expenses 533853 533853 BOOSTER ORGANIZATIONS 268954 268954 summer camp 266419 266419 athletic expenses 136329 136329 608136 390680 150373 67083 21291445 17922178 2815057 554210 6621860 7729724 821154 923750 1839042 2680705 649615 579243 59649 67836 284909 402932 37995458 15227567 22496279 22767891 7670619 9821288 281549 317837 40724676 45291206 1269386 1409039 6153035 6249775 5715567 5172652 832247 641970 13970235 13473436 X 23858535 26323890 1509369 4086800 1386537 1407080 26754441 31817770 40724676 45291206 X 4186464 943631 -66766 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6732770 1220543 1024765 99207 8878871 6701084 280350 -137946 110718 6732770 5168476 1405209 174147 46748 6701084 4438048 48325 752255 70152 5168476 3723259 254175 502297 41683 4438048 0.78920 0.15050 0.06030 0 0 501819 501819 28764289 11780659 16983630 8416157 3446908 4969249 313193 313193 22767891 VALUATION OF DERIVATIVE INSTRUMENT 299899 457(b) Plan Liability 317837 Long-Term Debt 24234 641970 23727097 943631 -2756368 -1812737 25539834 44177 -106102 -61925 25477909 18663768 106102 106102 18557666 44177 2689602 2733779 21291445 Part V, Line 4: ENDOWMENT FUNDS ARE USED TO FUND A VARIETY OF PROGRAMS THAT ARE ALIGNED WITH THE SCHOOL'S EXEMPT PURPOSE. THOSE FUNDS WITH DONOR IMPOSED RESTRICTIONS ARE EXPENDED ACCORDING TO THE DONOR RESTRICTIONS. THERE ARE SPENDING POLICIES BASED UPON INVESTMENT RETURNS. Part XI, Line 2d - Other Adjustments: FINANCIAL AID AND SCHOLARSHIPS SHOWN NET OF TUITION ON FINANCIALS -2,689,602. CHANGE IN FAIR VALUE OF SWAP 250,799. ADJUSTMENT TO PLEDGES RECEIVABLE VALUE -317,565. Part XI, Line 4b - Other Adjustments: FUNDRAISING EVENT EXPENSES reported net of revenues -19,550. cost of goods sold reported net of revenues -86,552. Part XII, Line 2d - Other Adjustments: FUNDRAISING EVENT EXPENSES reported net of revenues 19,550. cost of goods sold reported net of revenues 86,552. Part XII, Line 4b - Other Adjustments: FINANCIAL AID AND SCHOLARSHIPS SHOWN NET OF TUITION ON FINANCIALS 2,689,602. 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 NORTH CAROLINA ASSOCIATION OF INDEPENDENT SCHOOLS (NCAIS) PUBLISHES A NON-DISCRIMinATION STATEMENT ON BEHALF OF ALL ITS MEMBER ORGANIZATIONS IN EACH SCHOOL'S REGIONAL/LOCAL CHAPTER AND CANNON IS A MEMBER OF THIS ORGANIZATION. GOLF TOURNAMENT 58809 40159 18650 900 12344 5901 405 58809 40159 18650 900 12344 5901 405 19550 -900 1 FINANCIAL AID 195 1626984 Book Tuition reduction Teacher Remission 114 1062618 Book Tuition reduction Part I, Line 2: FINANCIAL AID AWARDS ARE ADMINISTERED BY THE SCHOOL AND ARE USED TO OFFSET CHARGES TO STUDENT ACCOUNTS. NO EXCHANGE OF REAL FUNDS EVER TAKES PLACE. THE AWARD IS SIMPLY A CREDIT TOWARDS THE TUITION BALANCE. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Matthew Gossage Head of School 374913 0 0 0 0 0 46544 0 7000 0 428457 0 0 0 Whitney Brown Director of Business/Finan 119780 0 0 0 0 0 9396 0 46394 0 175570 0 0 0 Patrick Moyer Director of Athletics 138860 0 0 0 0 0 10807 0 5275 0 154942 0 0 0 Part I, Line 1a THE SCHOOL REIMBURSES THE HEAD FOR MEMBERSHIP DUES TO HIS COUNTRY CLUB, WHICH HE USES, IN PART, FOR BUSINESS PURPOSES. THE AMOUNT OF THE COUNTRY CLUB DUES IS INCLUDED IN THE HEAD'S FORM W-2 WAGES. A NC CAPITAL FACILITIES FINANCE AGENCY 561592154 65818pby4 2010-03-03 9035000 refunding of facilities construction bonds 0 0 0 A 3285034 9035000 9035000 2010 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 1 0 0 0 0 A 0 X 1 50080 STOCK MEDIAN VALUE 0 1 1 Part I, Line 32b: THE SCHOOL uses TD Ameritrade'S online account to receive stock donations and sell the stock directly after. Form 990, Part VI, Section B, line 11b the board of directors is provided with a public disclosure copy of the form 990 to review. A full copy of the form 990 will be made available to the board prior to filing, and will be kept at the school business office. Form 990, Part VI, Section B, line 12c TRUSTEES ARE REQUIRED TO REVIEW AND SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY. THE HEAD OF SCHOOL'S ASSISTANT COLLECTS ALL SIGNED CONFLICT OF INTEREST POLICIES FROM TRUSTEES AND REVIEWS FOR ANY POTENTIAL ISSUES. THESE ARE COLLECTED FROM ALL NEW TRUSTEES AS THEY CHANGE DURING THE YEAR. during the course of the year, any trustee with a potential conflict recuses himself/herself from discussions and/or votes. Form 990, Part VI, Section B, line 15 THE SCHOOL HAS A COMPENSATION COMMITTEE (COMPOSED OF INDEPEnDENT TRUSTEES) FOR ITS HEAD OF SCHOOL THAT UNDERTOOK INITIAL STUDIES OF COMPARABILITY SOURCE DATA FROM NAIS AND CARNEY SANDOE TO DETERMINE THE HEAD'S OVERALL COMPENSATION. THE COMPENSATION DETERMINATION PROCESS IS DOCUMENTED IN THE MEETING MINUTES. ADDITIONALLY, THE COMPENSATION IS RE-EXAMINED ON A PERIODIC BASIS TO ensure reasonableness. THE SCHOOL HAS A FULL-TIME Human Resource DIRECTOR THAT ASSISTS IN PULLING TOGETHER COMPENSATION MARKET DATA FOR all other positions. Form 990, Part VI, Section C, line 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part XI, line 9: CHANGE IN FAIR VALUE OF SWAP 250,799. ADJUSTMENT TO PLEDGES RECEIVABLE VALUE -317,565. PART VII, LINE 2C EXPLANATION: OUR BOARD'S FINANCE SUB-COMMITTEE ACTS ON BEHALF OF THE BOARD OF TRUSTEES IN SELECTION AND OVERSIGHT OF THE AUDIT AND AUDITORS.