2017-05-15T13:45:16-05:00 2016-06-30 042943536 Tonneson & Company PC 401 Edgewater Place Suite 300 Wakefield MA 018806208 990 2015-07-01 042103623 ST MARK'S SCHOOL OF SOUTHBOROUGH INC STMA 5087866000 25 MARLBOROUGH ROAD SOUTHBOROUGH MA 01772 Francisco J Lopez-Balboa Treasurer 5087866000 2017-05-08 1 Cynthia P Almquist P01309212 7812459999 2017-05-08 2015 2021-01-29 14:40:06Z Francisco J Lopez-Balboa 25 MARLBOROUGH ROAD SOUTHBOROUGH MA 01772 25453429 0 X www.stmarksschool.org X 1865 MA Refer to Schedule O, Page 65St. Mark's School educates young people for lives of leadership and service. Founded in 1865 as an intentionally small residential community, the School challenges its students to develop their particular analytic and creative capabilities by both inspiring their academic and spiritual curiosity and kindling their passion for discovery. We value cooperation over self-interest, and we encourage each person to explore his or her place in the larger world beyond our campus. 32 31 280 40 -268751 297956 4816544 5280921 18156951 19267570 1731706 290688 -38186 -76549 24667015 24762630 4452525 5018747 0 0 13932085 14131049 0 0 2896642 12620107 13466507 31004717 32616303 -6337702 -7853673 216423606 207083102 45598790 47100710 170824816 159982392 Refer to Schedule O, Page 65 0 0 24913588 5018747 19267570 St. Mark's School of Southborough provides a high quality four year co-educational secondary level education to approximately 365 residential and day students. 24913588 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 91 0 1 280 1 1 1 1 NL EI 0 0 0 0 0 0 0 0 X 32 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X John Clemens 5087866172 St Marks School of Southborough Southborough MA 01772 X R William Burgess Jr President 3.00 X X 0 0 0 Alys Reynders Scott Vice President 3.00 X X 0 0 0 Francisco J Lopez-Balboa Treasurer 3.00 X X 0 0 0 Margaret H Sanel Clerk 3.00 X X 0 0 0 The Rt Reverend J Clark Grew Trustee 2.00 X 0 0 0 Ella Auchincloss Trustee 2.00 X 0 0 0 James Bartlett Trustee 2.00 X 0 0 0 Matthew Chamberlin Trustee 2.00 X 0 0 0 George Crawford Trustee 2.00 X 0 0 0 Thomas Crotty Trustee 2.00 X 0 0 0 Carole Holmes Delouvrier Trustee 2.00 X 0 0 0 James Dolce Trustee 2.00 X 0 0 0 Lisa Duffy Trustee 2.00 X 0 0 0 Thomas Ewald Trustee 2.00 X 0 0 0 David Giblin Trustee 2.00 X 0 0 0 Sharon Giblin Trustee 2.00 X 0 0 0 Reverend Preston B Hannibal Trustee 2.00 X 0 0 0 Michael T Hawkins Trustee 2.00 X 0 0 0 Peter C Hearn Trustee 2.00 X 0 0 0 Julia Krapf Trustee 2.00 X 0 0 0 Sukjin Lim Trustee 2.00 X 0 0 0 G Thomas Martinson Trustee 2.00 X 0 0 0 Michael Moore Trustee 2.00 X 0 0 0 Willard Morgan Trustee 2.00 X 0 0 0 Lars Perkins Trustee 2.00 X 0 0 0 Mackin Pulsifer Trustee 2.00 X 0 0 0 Vanessa Ryan Trustee 2.00 X 0 0 0 James Tanton Trustee 2.00 X 0 0 0 Paul Thompson III Trustee 2.00 X 0 0 0 Caleb White Trustee 2.00 X 0 0 0 Bruce B Wilson Trustee 2.00 X 0 0 0 John C Warren Head of School 40.00 X 338520 0 66560 Kirk I Swenson Chief Advancement Officer 40.00 X 239360 0 42659 Robert D Meyer Dir. of Finance & Business Ops. 40.00 X 214158 0 35154 Kenneth J Griffin Director of Technology 40.00 X 147864 0 33420 Heather A Stacchi Director of Major Gifts 40.00 X 145030 0 33846 Stephanie D Katz Dir. of Alumni & Parent Engagement 40.00 X 129742 0 32111 1214674 0 243750 16 0 1 0 Consigli Construction 72 Summer Street Milford MA 02189 General Contractor 2999235 Flik Independent Schools 91337 Collections Center Drive Chicage IL 606931337 Food Services 1596050 USI Consulting Group 95 Glastonbury Boulevard Suite 102 Glastonbury CT 06033 Pension & Annuity 1003117 Utica Natioanl Insurance Group PO Box 6532 Utica NY 13504 Insurance 276680 Focus Technology Solutions 93 Ledge Road Seabrook NH 03784 Technology Contractor 239478 16 5280921 229354 5280921 Tuition 611600 19267570 19267570 19267570 120753 120753 598480 208563 219982 -208563 378498 169935 378498 324865 -533428 343330 262254 81076 81076 Miscellaneous Income 611710 226627 226627 Auxiliary Program 611710 174699 174699 Hockey Rink 611710 34665 34665 -593616 -593616 -157625 24762630 20082059 -268751 -331599 5018747 5018747 391693 391693 10356713 7035302 1928880 1392531 3382643 2268717 692848 421078 117157 117157 57503 57503 3081952 2241303 253127 587522 1137709 593584 382380 161745 680012 453341 226671 1319825 1081929 237896 553160 286727 96417 170016 314693 221176 73657 19860 1091938 1091938 4179398 4070201 109106 91 UBIT Tax 169512 169512 Special Functions 292119 123250 53909 114960 Miscellaneous 266191 143633 122558 Repairs and Maintenance 104650 69414 10480 24756 100688 44814 51791 4083 32616303 24913588 4806073 2896642 7353998 10052069 7499445 5450643 162768 234536 25196 26647 136815 173374 743425 676810 123174393 65577026 54996583 57597367 7857727 11504847 137647649 121366809 216423606 207083102 9508917 6340000 8084964 8958784 27092564 30937164 912345 864762 45598790 47100710 X 51953707 47897146 68883457 61400418 49987652 50684828 170824816 159982392 216423606 207083102 -7853673 -2988751 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 126082788 1630891 -3113028 9156732 115443919 122585368 1135955 9162555 6801090 126082788 110257696 651447 17401292 5725067 122585368 105685493 1662007 9368112 6457916 110257696 110694128 812673 1070584 6891892 105685493 0.18520 0.81480 0.00000 0 0 306000 306000 95216636 47815880 47400756 24736950 17761146 6975804 2914807 2914807 57597367 Multi-strategy investment fund 101829063 F Legacy investments 19537746 F 121366809 Annuities Payable 864762 864762 X 16847874 -2988751 262254 -2726497 19574371 5188259 5188259 24762630 27690298 262254 262254 27428044 5188259 5188259 32616303 Part V, Line 4: The School's primary objective is long-term capital appreciation which together with income will provide for the growth of the endowment while allowing support for current activities. The School has adopted a spending policy whereby a percentage of the historical average market value of the endowment for program services and capital needs is distributed and treated as support for operating activities. To the extent the total return requirement for the current year is not fulfilled by interest and dividends, the School utilizes realized gains of its endowment. To the extent the total return requirement for the current year is exceeded by interest and dividends, the School adds the excess income to its endowment. Part X, Line 2: In determining the recognition of uncertain tax positions, the School applies a more-likely-than-not recognition threshold and determines the measurement of uncertain tax positions considering the amounts and probabilities of the outcomes that could be realized upon ultimate settlement with taxing authorities. As of June 30, 2016, the School has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. Part XI, Line 2d - Other Adjustments: Inventory Cost of Sales 262,254. Part XI, Line 4b - Other Adjustments: Financial Aid 5,018,747. Unrelated Business Income Tax 169,512. Part XII, Line 2d - Other Adjustments: Inventory Cost of Sales 262,254. Part XII, Line 4b - Other Adjustments: Financial Aid 5,018,747. Unrelated Business Income Tax 169,512. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 Racially nondiscriminatory policy is included in all communications to the community. The School is a member of the Association of Independent Schools of New England (AISNE). AISNE annually publishes a racially nondiscriminatory policy in various newspapers throughout New England for its members. 1 Financial Aid 114 5018747 Part I, Line 2: The School monitors the use of financial assistance funds by directly applying awards/grants to the student bills as an offset to billed tuitions. No money ever physically exchanges hands between the school and the recipient. Thus, the general ledger must be in sync with the awards list at all times. Financial aid is based solely upon need. The School utilizes an independent outside service bureau to help determine a family's ability to pay school costs. This service and process helps ensure that the School uses the same methods and objective procedures as other schools in evaluating an applicant's application. Employee dependents are exempt from this process and receive 100% financial aid. Total financial aid is approved by the Board of Trustees. The Head of School approves all individual financial aid recipients. X 1 0 X X X X X 0 0 0 0 0 0 0 0 0 John C Warren Head of School 338520 0 0 0 0 0 0 0 66560 0 405080 0 0 0 Kirk I Swenson Chief Advancement Officer 239360 0 0 0 0 0 0 0 42659 0 282019 0 0 0 Robert D Meyer Dir. of Finance & Business Ops. 214158 0 0 0 0 0 0 0 35154 0 249312 0 0 0 Kenneth J Griffin Director of Technology 147864 0 0 0 0 0 0 0 33420 0 181284 0 0 0 Heather A Stacchi Director of Major Gifts 145030 0 0 0 0 0 0 0 33846 0 178876 0 0 0 Stephanie D Katz Dir. of Alumni & Parent Engagement 129742 0 0 0 0 0 0 0 32111 0 161853 0 0 0 A Massachusetts Development Finance Agency 043431814 2010-08-17 10105000 Finance construction costs 0 0 0 B Massachusetts Development Finance Agency 043431814 2012-09-20 25000000 Refinance / Finance construction costs 0 0 0 A 1276725 10105000 139025 9965975 0 0 1 1 B 2891111 25000000 159669 15390331 9450000 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 1 0 0 0 0 A 1 B 1 X 18 229354 Market Value 0 0 0 Form 990, Part VI, Section B, line 11 The School's Treasurer, Business Manager and Controller are responsible for overseeing the preparation of IRS Form 990 (990). The 990 and its supporting schedules were prepared by the public accounting firm, Tonneson + Co (Tonneson), responsible for auditing the School's financial statements. Tonneson's work was based on information provided to them during the course of the audit by the School's accounting department, plus additional work requested specific to the 990. The Treasurer, Business Manager and Controller performed a detailed review of the completed 990 and reported the results of its review to the Finance Committee. The Finance Committee recommended to the Board of Trustees the approval of the Form 990. The Board of Trustees then voted to approve the Form 990. Form 990, Part VI, Section B, line 12c All members of the Board of Trustees, Committee members, officers and management-level employees are required to disclose annually any existing or potential conflict of interest. The Board of Trustees may also provide for such corrective action as it deems appropriate by reason of a failure to disclose such conflict of interest, which may include removal from a position or office. Disclosure forms shall be updated annually or sooner if changed circumstances require disclosure. All persons subject to this policy are expected to update their "Statement Concerning Possible Duality of Interest and Conflict of Interest" at any time during the year that the information requested on the form changes. The administration and maintenance of the "Statement Concerning Possible Duality of Interest and Conflict of Interest" shall be the responsibility of the both the Head of School and the President of the Board of Trustees. Form 990, Part VI, Section B, line 15 The Compensation Committee of Trustees initially determines compensation for the Head of School and reviews compensation for other key employees based on benchmarking with area peer schools. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, financial statements and Form 990 are immediately made available to the public by calling the School's office, walking into the School's office or mailing in a request to the School. The Form 990 and financial statements are also available through the Massachusetts Attorney General's office/website. Additionally, the financial statements are available to the public on the Electronic Municipal Market Access website. SMS Investments Holdings LP 550 S Tryon Street Suite 3500 Charlotte NC 28202 383971009 Investment Portfolio Management DE ST MARK'S SCHOOL OF SOUTHBOROUGH INC Investment 11545182 112256388 0 -258278 0 1.00000 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 SMS Investments Holdings LP A -4013067 K-1 SMS Investments Holdings LP B 134830818 K-1 SMS Investments Holdings LP S 6281981 K-1