2018-04-20T15:05:32-05:00 2017-06-30 560747981 DIXON HUGHES GOODMAN LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2016-07-01 560125490 CAROLINA DAY SCHOOL INC CARO 8282740757 1345 HENDERSONVILLE ROAD ASHEVILLE NC 28803 BRETT FUHRMAN CFO/TREASURER 8282740757 2018-04-20 1 Amy Bibby P00445891 8282542254 2018-04-14 12.25.12.224 2018-04-20 14:45:44 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 3C4A73C7F70BFF54BAAC11A85090BDFB39FC8B01 2016 2021-01-29 14:40:06Z KIRK DUNCAN 1345 HENDERSONVILLE ROAD ASHEVILLE NC 28803 17862480 0 X www.carolinaday.org X 1936 NC PROVIDING EDUCATIONAL SERVICES TO THE COMMUNITY 16 16 284 400 0 0 2564665 706147 15273651 16522892 -574384 194225 88019 148681 17351951 17571945 2248359 3015290 0 0 10286803 10986507 60100 21000 435917 3546832 4097581 16142094 18120378 1209857 -548433 31529663 30769254 7563930 7056880 23965733 23712374 X To inspire students to become innovative thinkers who communicate with intelligence and clarity, create with vision and purpose, and act with courage and compassion to confidently make a meaningful difference in the world. 0 0 15323771 3015290 16522892 SEE SCHEDULE O Accredited pre-kindergarten through 12th grade school for boys and girls providing educational and related services; 656 students enrolled in 2016-2017.Our Vision of Education: Carolina Day School is a leader in educational innovation and a model of excellence for western North Carolina and beyond. Our creative and reflective educators engineer a cohesive curriculum approach using a wide variety of methods. Each classroom is an inviting and stimulating learning environment for our students. Building and giving meaning to strong foundational skills is essential, and just the starting point at Carolina Day. Our educational methodologies break from outdated approaches to value real-world problem solving, project-based learning, service learning, and design thinking. We are moving confidently forward to champion and share our understanding and expertise with the greater community - locally and regionally.20162017: CDS was one of three schools in the state to earn a NC Green School of Excellence "in recognition for demonstrating the highest level of commitment to a sustainable campus and environmental education curriculum." The Wildcat athletic program added three high school Division 2A state team titles to its long list of state championships over the years. CDS was also awarded the Wells Fargo Cup for the 2016-2017 season. The Wells Fargo Cup recognizes the top athletic program in the state of NC (NCISAA 2A). Accreditations: In June 2005, Carolina Day School achieved dual accreditation by the Southern Association of Independent Schools and the Southern Association of Colleges and Schools. To earn dual accreditation, CDS met quality standards, was evaluated by an outside group of peer professionals, and implemented a school plan focused on strategic improvement and student performance. In 2015-2016, CDS was reaccredited by The Southern Association of Colleges and Schools. Key School and Key Learning Center also received national accreditation by the Academy of Orton-Gillingham Practitioners and Educators. Opportunities and Successes: The 44 members of the Class of 2017 were offered nearly $4 million in academic and athletic scholarships and accepted into 92 colleges and universities in the U.S. and overseas. The 2017 graduating class included a National Merit Finalist.Advanced Placement Program: CDS offered 14 AP courses across the full spectrum of our academic program students had advanced placement opportunities that include the physical and biological sciences, languages, history/social sciences, English and Math. During the year 90 students took at least one AP exam (total of 167 exams taken overall).Academic Competitions: Interest in the speech and debate team grew this year and many students participated at national and regional tournaments.Arts Program: Opportunities exist for students in all divisions to participate in a variety of arts programs including theatre, music, and art. Upper School art electives include courses in photography, theatre, speech, debate, chorus, music theory (including AP), product design, pottery, painting, drawing, and advanced studio art. We also offer art history including AP art history and AP music theory. Language: CDS offers fourteen years of Spanish, beginning in pre-kindergarten. French is available in grades 6 12, providing seven years.Sports Offered: 12 sports and 33 teams (varsity, junior varsity, middle school) including field hockey, volleyball, basketball, soccer, tennis, cross country, baseball, golf, swimming, track and field, and lacrosse. Also offered a Play for Your School program for younger students.Number of state championships: In 2016-2017 CDS Wildcats celebrated three state championships bringing the total to 107 individual and team state championships since 1995.Character Education: One of the school's core beliefs is to build strong character in students. At CDS strong character is fostered through building relationships and meaningful connections amongst all constituents within a campus atmosphere of trust and respect. A robust community service program and international travel programs all contribute to building in students a sense of connection to something greater than themselves.Community Service: Students in all divisions took the stage in Performing Arts productions and concerts. They studied hard and played hard. They raised money for cancer research. They participated in river clean-ups, Asheville's MLK service day and celebrations, and planted gardens. In total they gave more than 4000 hours of community service.Key School: Established in 1997; provides bright students with language-based learning differences the educational opportunity to overcome their differences and achieve their maximum potential in school and in life. Key School enrolls students in grades two through eight. In addition, study support services are offered to students in Lower school, Middle school, and Upper school. All Key School faculty members are certified in multisensory teaching or are working toward certification with the Academic Language Therapy Association, the Academy of Orton-Gillingham Practitioners and Educators, and/or Center for Multisensory Mathematics. Two faculty members are certified Instructors of Multisensory Mathematics and 15 faculty members support training teachers in the Orton-Gillinham approach as language coaches.Key School's teacher training program is accredited by the International Multisensory Structured Language Education Council (IMSLEC), the Academy of Orton-Gillingham Practitioners and Educators (AOGPE), and the International Dyslexia Association. The curriculum director and principal have the highest level of certification at the Fellow Level with the AOGPE and Instructor of Therapy Level with IMSLEC.Gurian Model School: As a result of Carolina Day School's dedication to providing an educational environment in which every student is given the opportunity to fulfill his or her individual potential, the school was designated a Gurian Institute Model School in 2006. Carolina Day is committed to ongoing faculty training in brain-based and gender- specific teaching strategies taught through the Institute (www.gurianinstitute.com). The School seeks to understand and incorporate best teaching practices for boys and girls in both coed and single-gender classes. Carolina Day Associate Head of School and Upper School Principal Peggy Daniels is a Gurian Institute Certified Master Trainer, who has trained faculty, administrators, and parents at schools across the country. Alumni: Alumni are a valuable resource for CDS and to each other in life and business. More than 2,000 alumni are members of the Alumni Association and 46 children of 32 alumni were enrolled during the 2016-2017 school year. 15323771 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 72 0 1 284 1 0 0 0 0 1 1 1 1 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X X BRETT FUHRMAN 8282740758 1345 HENDERSONVILLE ROAD Asheville NC 28803 TOM ORECK BOARD CHAIR 5.00 X X 0 0 0 MICHAEL ANDRY FINANCE CHAIR/TREASURER 5.00 X X 0 0 0 JEFF BAKER PAST-CHAIR 3.00 X 0 0 0 BOB BELL TRUSTEE 2.00 X 0 0 0 HEATHER CASSIDY TRUSTEE 2.00 X 0 0 0 MAX COGBURN JR TRUSTEE 2.00 X 0 0 0 PATTI D'ANGELO TRUSTEE 2.00 X 0 0 0 PAUL FARAGO TRUSTEE 2.00 X 0 0 0 CHARLES GERSHON LIFE TRUSTEE 1.00 X 0 0 0 TED HULL TRUSTEE 2.00 X 0 0 0 BRENDA NASH LIFE TRUSTEE 1.00 X 0 0 0 TOM OLVERSON TRUSTEE 2.00 X 0 0 0 COBY ORR TRUSTEE 2.00 X 0 0 0 ROBIN OSWALD TRUSTEE 2.00 X 0 0 0 SWATI PATEL TRUSTEE 2.00 X 0 0 0 JEN RAMMING TRUSTEE 2.00 X 0 0 0 JULIE ROSE TRUSTEE 2.00 X 0 0 0 SUZANNE ROSE TRUSTEE 2.00 X 0 0 0 ANNE WINNER TRUSTEE 2.00 X 0 0 0 ANN GOOSMANN PRESIDENT PARENT ASSN 3.00 X 0 0 0 KIRK DUNCAN HEAD OF SCHOOL/PRES 50.00 X 311659 0 21553 PEGGY DANIELS ASSOC. HEAD/VP 50.00 X 127949 0 0 ROBERT MCARTHUR CFO/TREASURER 50.00 X 162323 0 10261 DEBORAH ASHE DIRECTOR OF ADMISSIONS 40.00 X 118828 0 12144 ELAINE KREUZ DIR. OF ADVANCEMENT 40.00 X 105348 0 14744 826107 0 58702 5 0 1 0 BEVERLY GRANT 80 PEACHTREE RD ASHEVILLE NC 28803 GENERAL CONRACTOR 3410082 ELECTRONIC OFFICE 1257 SWEETEN CREEK RD ASHEVILLE NC 28803 COMPUTER CONSULTING 194398 INSPECTION READY CLEANING PO BOX 1623 SKYLAND NC 28776 CLEANING SERVICE 191808 CLARK NEXSEN INC 425 MAIN STREET VIRGINIA BEACH VA 23462 ARCHITECT 151511 4 128101 578046 92824 706147 TUITION & FEES 611710 16522892 16522892 16522892 150775 150775 236000 147049 45501 88951 -45501 43450 43450 199995 128101 97985 102010 102010 MISCELLANEOUS INCOME 900099 28207 28207 TOURNAMENT INCOME 900099 16705 16705 BOOK INCOME 611710 1759 1759 46671 17571945 16522892 0 342906 3015290 3015290 688284 235406 273707 179171 75196 28014 47182 7735783 7011915 640354 83514 403008 380010 10963 12035 1492972 1198651 249728 44593 591264 435656 136775 18833 13253 13253 39050 39050 21000 21000 9207 9207 500273 91031 405868 3374 172735 172735 535116 352069 109650 73397 296715 296715 441138 309564 131574 94143 94143 10856 10856 100521 100521 913876 913876 108729 108729 Class Expenses 520279 520279 Club Expenses 165930 165930 Other Educational Expen 113884 113884 Miscellaneous 49292 48233 1059 12584 12584 18120378 15323771 2360690 435917 501 760748 4213192 3116732 1199331 604786 63900 281908 143488 223161 29646039 8756106 21369023 20889933 4540228 4891986 31529663 30769254 1860769 1016023 1531929 1398612 4130155 1524095 41077 3118150 7563930 7056880 X 20534470 20028322 684521 714951 2746742 2969101 23965733 23712374 31529663 30769254 -548433 295074 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4561565 55510 497161 236000 4878236 4812206 88631 -134354 204918 4561565 5021507 101725 -108798 202228 4812206 4162596 197012 691388 29490 5021507 3384070 357912 578825 158211 4162596 0.28630 0.60860 0.10510 0 0 5159505 5159505 19306194 6195920 13110274 142820 48497 94323 2502118 1462483 1039635 2535402 1049206 1486196 20889933 CAPITAL LEASE OBLIGATIONS - COMPUTERS 69560 CURRENT PORTION OF LT DEBT 3014472 CURRENT CAPITAL LEASE OBLIGATIONS 34118 3118150 X 17958317 295074 91298 386372 17571945 0 17571945 18211676 91298 91298 18120378 0 18120378 Part V, Line 4: THE ORGANIZATION UTILIZES DISTRIBUTIONS FROM ENDOWMENT FUNDS AS DIRECTED BY DONORS FOR A VARIETY OF PROGRAMS AND SERVICES OFFERED BY THE SCHOOL AS PART OF ITS EXEMPT PURPOSE. Part X, Line 2: The School is exempt from federal and state income taxes under Internal Revenue Code Section 501(c)(3) and the statutes of the State of North Carolina. Accordingly, no provision for income taxes is provided in the financial statements. The School's policy is to record a liability for any tax position taken that is beneficial to the School, including any related interest and penalties, when it is more likely than not the position taken by management with respect to a transaction or class of transactions will be overturned by a taxing authority upon examination. Management believes there are no such positions as of June 30, 2017 and, accordingly, no liability has been accrued. THE SCHOOL'S FEDERAL RETURNS OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) FOR 2016, TO 2013 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. Part XI, Line 2d - Other Adjustments: SPECIAL EVENTS EXPENSE 97,985. INVESTMENT FEES -6,687. Part XII, Line 2d - Other Adjustments: SPECIAL EVENT EXPENSE 97,985. INVESTMENT FEES -6,687. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 CAROLINA DAY SCHOOL ADMINISTERS ITS ADMISSIONS, SCHOLARSHIP, ATHLETIC, PERSONNEL, AND OTHER PROGRAMS WITHOUT REGARD TO RACE, CREED, COLOR, NATIONAL OR ETHNIC ORIGIN. X X X X X X 1 HUNTERKEMPER CONSULTING 65 PANOLA STREET ASHEVILLE NC 28801 CONSULTING FOR CAPITAL CAMPAIGN 0 0 21000 -21000 21000 -21000 Auction 305626 128101 177525 25050 26928 2648 225 27427 SCHOOL SUPPLIES SALE 17160 17160 14409 3 5310 5310 1298 328096 128101 199995 25050 26928 2648 225 43134 97985 102010 1 MERIT SCHOLARSHIPS 45 222450 FMV NEED-BASED FINANCIAL AID 219 2704480 FMV Part I, Line 2: FINANCIAL AID IS AWARDED BASED ON FINANCIAL NEED AS DETERMINED THROUGH ANALYSIS BY SCHOOL AND STUDENT SERVICES BY NAIS, BALANCED WITH FUNDS AVAILABLE. MERIT SCHOLARSHIPS ARE AWARDED TO STUDENTS BASED ON ACADEMIC ACHIEVEMENT. STUDENTS CAN CONTINUE TO RECEIVE THE AWARD EACH YEAR UNTIL GRADUATION AS LONG AS THEY MEET QUALIFICATIONS. X 0 1 X X X X X 0 0 0 0 0 0 0 0 0 KIRK DUNCAN HEAD OF SCHOOL/PRES 309285 0 0 0 2374 0 15892 0 5661 0 333212 0 0 0 ROBERT MCARTHUR CFO/TREASURER 162000 0 0 0 323 0 4976 0 5285 0 172584 0 0 0 Part I, Line 1a KIRK DUNCAN RECEIVES AN ANNUAL HOUSING ALLOWANCE FOR HIS RESPONSIBILITIES AS HEAD OF SCHOOL. THE HOUSING ALLOWANCE IS INCLUDED AS TAXABLE INCOME ON HIS W-2. MEREDITH DANIELS RELATED TO PEGGY DANIELS, THE ASSOCIATE HEAD OF SCHOOL. 28014 COMPENSATION PAID BY THE ORGANIZATION FOR ADMINISTRATIVE ASSISTANT SERVICES 0 TRIP COGBURN RELATED TO MAX COGBURN, A BOARD MEMBER 47182 COMP. PAID BY THE ORGANIZATION FOR US ADMISSION ASSOC/TEACHER/GRADE DEAN 0 X 9 92824 FMV 0 1 1 Part I, Line 32b: The organization uses third party financial advisors to process and sell donated stocks upon receipt. Form 990, Part VI, Section B, line 11b THE 990 WAS REVIEWED IN DEPTH BY THE FINANCE COMMITTEE WITH ASSISTANCE OF THE TAX PREPARER AND THEN PROVIDED TO THE ENTIRE VOTING BOARD, PRIOR TO THE RETURN'S FILING WITH THE IRS. Form 990, Part VI, Section B, line 12c ALL BOARD MEMBERS ARE REQUIRED TO SIGN AN ANNUAL CONFLICT OF INTEREST POLICY. THE ORGANIZATION'S CFO MONITORS TRANSACTIONS FOR THE SCHOOL TO IDENTIFY ANY POTENTIAL CONFLICTS OF INTEREST. Form 990, Part VI, Section B, line 15a COMPENSATION FOR THE HEAD OF SCHOOL/PRESIDENT IS DETERMINED BY A COMPENSATION COMMITTEE WHO OBTAIN COMPARABLE DATA FROM SIMILAR SCHOOLS. COMPENSATION FOR THE ASSOCIATE HEAD OF SCHOOL/VICE-PRESIDENT IS DETERMINED BY THE HEAD OF SCHOOL WHO USES COMPARABLE DATA FROM SIMILAR SCHOOLS. ANNUAL SALARY INCREASE IS THE SAME AS FOR ALL OTHER EMPLOYEES OF THE SCHOOL. Form 990, Part VI, Section C, line 18 RECENT FILINGS OF THE FORM 990 ARE AVAILABLE UPON REQUEST AND ONLINE AT WWW.GUIDESTAR.ORG. Form 990, Part VI, Section C, line 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.