2017-01-16T10:00:50-06:00 2016-06-30 STOCKMAN KAST RYAN & CO LLP 102 N CASCADE AVENUE SUITE 400 COLORADO SPRINGS CO 80903 990 2015-07-01 840423922 THE FOUNTAIN VALLEY SCHOOL OF COLORADO % JANET REFIOR FOUN 7193907035 6155 FOUNTAIN VALLEY SCHOOL ROAD COLORADO SPRINGS CO 80911 HENRY MORSE PRESIDENT 7193907035 2016-12-15 true DOREEN B MERZ P00841439 7196301186 2016-12-15 2015 2021-01-29 14:40:06Z William V Webb 6155 Fountain Valley School Rd COLORADO SPRINGS CO 80911 47810627 false X WWW.FVS.EDU X 1930 CO FOUNTAIN VALLEY SCHOOL OF COLORADO IS A UNIQUE, GLOBAL BOARDING AND DAY SCHOOL WITH A RIGOROUS COLLEGE PREPARATORY CURRICULUM IN ACADEMICS, ATHLETICS AND THE ARTS. 26 26 176 40 73502 2047891 2090245 10666639 10730102 3813996 606639 398969 455122 16927495 13882108 2357220 2362638 0 0 6125340 6338380 18880 0 944419 6770881 6722591 15272321 15423609 1655174 -1541501 60406952 57776115 8621731 7944921 51785221 49831194 FOUNTAIN VALLEY SCHOOL OF COLORADO IS DEDICATED TO PROVIDING A RIGOROUS, COLLEGE-PREPARATORY CURRICULUM IN ACADEMICS, ATHLETICS AND THE ARTS. CONTINUED ON SCHEDULE O false false 10098848 2362638 11230129 THE FOUNTAIN VALLEY SCHOOL PROVIDES INSTRUCTION TO STUDENTS; SERVICES TO STUDENTS SUCH AS HOUSING, ATHLETICS, INFIRMARY, AND COUNSELING; FOOD SERVICES; AND SCHOLARSHIPS. Continued on Schedule O 10098848 true true false false false false false false false true true true false false true true true false true false false false false false false false false false true true true false false false false false false false false false false true false false false false false false false false true 25 0 176 true true true false false false false false false false false false X 26 26 false false false false false false false true true false false true true true true true true true true false CO X JANET REFIOR 7193907035 6155 FOUNTAIN VALLEY SCHOOL ROAD COLORADO SPRINGS CO 80911 Henry Morse President 1.0 0.0 X X 0 0 0 Katrina Presti Vice President 1.0 X X 0 0 0 Jolene Lane Secretary 1.0 X X 0 0 0 Jerry Frautschi Trustee 1.0 X 0 0 0 Bob Henderson Trustee 1.0 X 0 0 0 Jim Scott Trustee 1.0 X 0 0 0 Bill Andres Trustee 1.0 X 0 0 0 Ward Berlin Trustee 1.0 X 0 0 0 Lenee Bennett Trustee 1.0 X 0 0 0 Bonnie Bertram Trustee 1.0 X 0 0 0 Grace Blea-Nunez Trustee 1.0 X 0 0 0 Barry Brown Trustee 1.0 X 0 0 0 Dean Dowson Trustee 1.0 X 0 0 0 Kelly Eustace Trustee 1.0 X 0 0 0 Ken Gamblin Trustee 1.0 X 0 0 0 Juniper Hunter Trustee 1.0 X 0 0 0 Anita Lane Trustee 1.0 X 0 0 0 Link Nicoll Trustee 1.0 X 0 0 0 Peter Packard Trustee 1.0 X 0 0 0 Josephine Parr Trustee 1.0 X 0 0 0 Kevin Rask Trustee 1.0 X 0 0 0 Gregg Thatcher Trustee 1.0 X 0 0 0 Melinda Twomey Trustee 1.0 X 0 0 0 Jim Webster Trustee 1.0 X 0 0 0 Joe Wheeling Trustee 1.0 X 0 0 0 Ben Howe Trustee 1.0 X 0 0 0 William Webb Head of School 40.0 X 209998 0 33804 Janet Refior CFO 40.0 0.0 X 134399 0 23225 Julia Alling Director of Advancement 40.0 0.0 X 102308 0 19697 446705 0 76726 3 false true false 0 2090245 422082 2090245 TUITION AND FEES 900099 10643096 10643096 RIDING PROGRAM 900099 87006 87006 10730102 1152890 73502 1079388 0 0 120674 330308 -209634 0 -209634 -209634 33015562 0 33561813 -546251 0 -546251 -546251 0 0 201127 36398 164729 164729 GCLI PROGRAM 900099 168435 168435 MISCELLANEOUS 900099 331592 331592 500027 13882108 11230129 73502 488232 0 2362638 2362638 0 0 408697 408697 0 4239201 2578369 1262443 398389 290585 161199 104479 24907 1069248 593154 384445 91649 330649 183424 118884 28341 4566 839 3727 33743 33743 46123 46123 0 0 250176 250176 91536 749 90787 161934 161934 690730 363892 316672 10166 0 0 1475413 1206179 253323 15911 233016 13969 114939 104108 0 173567 90157 83410 137295 137295 0 1399891 1255345 144546 283137 283137 FOOD EXPENSE 1047031 1047031 MISCELLANEOUS 301543 66551 217043 17949 BAD DEBTS 37863 37863 MEMBERSHIPS 108388 192 91498 16698 246639 175999 70640 15423609 10098848 4380342 944419 862 1709 4472754 2657222 671931 698391 123330 58442 0 0 0 0 0 0 12959 11841 284777 259823 44105140 27297463 17545107 16807677 20312215 29960024 14821020 5267999 0 0 0 0 2161997 2052987 60406952 57776115 744315 671037 0 0 3706030 3268735 4050000 3895000 0 0 0 0 0 0 0 0 121386 110149 8621731 7944921 X 28031939 26226205 6018796 5511656 17734486 18093333 51785221 49831194 60406952 57776115 X -1541501 -412526 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 45787008 587079 75954 1026452 45423589 45038597 803993 947962 1003544 45787008 39501050 215645 6619068 1297166 45038597 36309059 271962 5100241 2180212 39501050 37034270 589605 -582145 732671 36309059 0.52800 0.07370 0.39830 true false 181550 181550 36663516 22355606 14307910 3629628 2078152 1551476 3630446 2863705 766741 16807677 PRIVATELY HELD COMMON STOCK 3594408 F LIMITED PARTNERSHIPS 1673591 F 5267999 0 ANNUITIES PAYABLE 110149 110149 X 13718129 -412526 366705 -45821 13763950 118158 118158 13882108 15672156 366705 366705 15305451 118158 118158 15423609 PART V, LINE 4 THE FOUNTAIN VALLEY SCHOOL'S ENDOWMENT FUNDS ARE RESTRICTED PERMANENTLY OR TEMPORARILY BY DONOR INTENT AS TO PURPOSE OR TIME LIMITATION, AND ARE ACCOUNTED FOR AS SUCH IN THE BOOKS OF ACCOUNTS OF THE SCHOOL. THE DEVELOPMENT DIRECTOR OF THE SCHOOL IS PRIMARILY RESPONSIBLE FOR THIS DETERMINATION AFTER CONSULTATION WITH THE DONOR AS DOCUMENTED BY THE GIFT DECREE. THIS IS IN TURN PROVIDED TO THE BUSINESS OFFICE OF THE SCHOOL WHERE THE CFO CONFIRMS INTENT AND ACCOUNTS FOR THE GIFT ACCORDING TO GAAP. ENDOWMENT FUNDS OF THE SCHOOL ARE GENERALLY ORGANIZED TO PROVIDE FOR PROGRAM NEEDS, FACULTY DEVELOPMENT, AND FINANCIAL AID. THE BOARD OF TRUSTEES MAY INTERNALLY RESTRICT DONOR UNRESTRICTED GIFTS AS QUASI-ENDOWMENT IN THE BEST INTERESTS OF THE SCHOOL AS DETERMINED BY THE STRATEGIC PLAN AS ADVISED BY THE FINANCE AND DEVELOPMENT COMMITTEES OF THE SCHOOL. THE BOARD AUTHORIZED SPENDING POLICY IS AN ANNUAL DRAW FROM THE ENDOWMENT LIMITED TO 5.5% OF THE VALUATION OF TOTAL ENDOWMENT FUNDS BASED ON A ROLLING TWELVE QUARTER AVERAGE. PART X, LINE 2 The School is exempt from income tax as determined by the Internal Revenue Service under Section 501(c)(3) of the Internal Revenue Code and a similar provision of state law. However, the School is subject to federal income tax on any unrelated business taxable income. The School believes that it does not have any uncertain tax positions that are material to the financial statements. The School's tax returns for the years ended June 30, 2012 through the current period remain open to examination by state and federal taxing authorities. PART XI, LINE 2d COST OF INVENTORY SOLD OFFSET AGAINST REVENUE $ 36,398 RENTAL EXPENSES OFFSET AGAINST REVENUE $ 330,308 PART XII, LINE 2d COST OF INVENTORY SOLD OFFSET AGAINST REVENUE $ 36,398 RENTAL EXPENSES OFFSET AGAINST REVENUE $ 330,308 true true true true true true true false false false false false false false false false false true SCH E, PART 1, LINE 3 A STATEMENT THAT THE FOUNTAIN VALLEY SCHOOL DOES NOT DISCRIMINATE ON THE BASIS OF RACE, RELIGION, GENDOR, OR NATIONAL ORIGIN IS POSTED IN THE RECEPTION AREA AND IS INCLUDED IN RECOMMENDATION FORMS, ETC. true SCHOLARSHIPS 2362638 PART I DESCRIPTION OF PROCEDURE FOR MONITORING USE OF FUNDS SCHOLARSHIPS ARE ONLY PROVIDED TO STUDENTS TO ASSIST WITH THE COST OF TUITION. NO CASH IS ACTUALLY DISBURSED TO STUDENTS. X X X X true true X X X false false false false false false false false false William Webb Head of School 209998 0 0 0 0 0 18000 0 15804 0 243802 0 0 0 Janet Refior CFO 134399 0 0 0 0 0 16500 0 6725 0 157624 0 0 0 A CO Educational & Cultural Facilities Authority 2013-07-30 4200000 Refinance of Bonds issued in 1998 false false false B CO Educational & Cultural Facilities Authority 2013-07-30 4800000 Construct athletic facility false false false A 305000 0 4115638 0 0 4115638 84000 0 362 0 0 0 2015 true false false true B 0 0 0 0 0 0 0 0 0 0 0 0 false false false true A false false false false 0 true B false false false false false false 0 true A false true false false false 0 false false false 0 false false true B false false false true false false 0 false false false 0 false false true A true B true Part II, Column B By decision of the Board of Trustees, construction on the facility may not begin until FVS has raised 75% of the funds needed for construction. As such, the funds on Series B have not been drawn on by FVS and remain in the custody of the trustee. Therefore no proceeds were recognized. X 13 282082 FMV X Horses 1 140000 FMV false true false SCH M, PART I, COLUMN (B) Line 9 column b represents the number of unique contributions of stock. Sch M, Line 33 Only stock donations are booked as non-cash contributions to the financial statements, other non-cash donations are not assigned values by the development group and are not recorded as contributions. FORM 990, PART I, LINE 1 Organization Mission continued: The School is located on 1,100 acres of rolling prairie in southeast Colorado Springs with Pikes Peak as a backdrop. A 40-acre Mountain Campus is located two hours away near Buena Vista, Colo. FORM 990, Part III, Line I ORGANIZATION'S MISSION CONTINUED This unique, global community endeavors to foster a lifelong love of challenge and learning in an environment of diversity and mutual respect, and to prepare adolescents to become individuals who are open-minded, curious, courageous, self-reliant and compassionate. Our Values: Francis Froelicher, the School's founding headmaster, believed that Fountain Valley School should prepare students "to write their own history." To empower them to do so, the School seeks to nurture all students in their pursuit of excellence and strives to develop in all students the following core values: Open-mindedness - To be aware of the richness and depth of all human experience. Curiosity - To value lifelong pleasure in intellectual exploration and discovery; to receive the consequent satisfaction of achievement and excellence through focused, creative effort. Courage - To embrace challenge intellectually, physically, emotionally and spiritually as a pathway to insight and self-understanding; to stretch and see beyond one's perceived boundaries. Self-Reliance - To be responsible; to exhibit initiative and accountability, working independently and collaboratively. Compassion - To demonstrate care and service to others, and to live a balanced and healthy life, enjoying the harmony of work and play. Form 990, Part III, Line 4A Program Services Continued: Education: Along with a rigorous academic curriculum that includes 18 Advanced Placement courses and honor classes in every discipline, Fountain Valleys signature programs are: the Global Scholar Diploma including the Schools membership in Round Square; experiential learning such as the Western Immersion Program and Interim travel adventures; the equestrian program with both English and Western competitive riders; and sports that take advantage of Rocky Mountain setting to include mountain biking, climbing and outdoor education. Housing and meals: Fountain Valley School sets a national standard in residential life for its boarding students and faculty. Stunning adobe residences house small groups of 16-20 students and faculty families. With communal kitchens, common rooms, fireplaces and patios, residence halls quickly become a welcoming home away from home. The FVS community gathers in the dining hall for three meals a day with myriad options including vegetarian and gluten free. Scholarships: Forty-one percent of students receive financial aid. In the 2014-15 school year, $2,357,220 in both merit- and need-baseed scholarships was awarded. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED BY A THIRD PARTY PREPARER WITH A DETAIL REVIEW BEING COMPLETED BY THE CFO OR OTHER SELECTED ADMINISTRATORS OF THE ORGANIZATION. A SECONDARY REVIEW IS PREFORMED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. AFTER THE AUDIT COMMITTEE APPROVES THE FORM 990 A COPY IS DISTRIBUTED TO THE FULL BOARD PRIOR TO FILING. Form 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST POLICY STATEMENT IS REVIEWED ANNUALLY BY THE BOARD OF TRUSTEES AT THE FIRST MEETING OF THE FISCAL YEAR. A DISCUSSION OF THE CONFLICT OF INTEREST POLICY IS FOLLOWED BY A QUESTION AND ANSWER TIME. ALL TRUSTEES ARE REQUIRED TO SIGN AND SUBMIT THE STATEMENT ANNUALLY. QUESTIONS ABOUT POTENTIAL CONFLICTS OF INTEREST ARE SUBMITTED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW AND DECISION, AND MAY BE BROUGHT BEFORE THE ENTIRE BOARD FOR DISCUSSION AS DEEMED NECESSARY BY THE EXECUTIVE COMMITTEE. CONCERNS ABOUT POTENTIAL CONFLICTS, RAISED BY ORGANIZATION STAFF, ARE DIRECTED THROUGH THE HEADMASTER TO THE BOARD OF TRUSTEES. CONCERNS REGARDING A CONFLICT OF INTEREST REQUIRE A BOARD MEMBER TO RECUSE THEMSELVES FROM VOTING ON THE ISSUE IN CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES DIRECTLY HIRES THE HEAD OF SCHOOL AND DETERMINES HIS COMPENSATION PACKAGE. MEMBERS OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES ARE RESPONSIBLE FOR NEGOTIATING COMPENSATION OF THE HEAD OF SCHOOL OR MAY DELEGATE SOME ASPECTS TO THE HEAD OF SCHOOL SEARCH COMMITTEE. HEAD OF SCHOOL COMPENSATION IS DETERMINED BASED ON QUALIFICATIONS AND EXPERIENCE AS MEASURED AGAINST THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL NORMS AND CONSULTATION WITH CONSULTANTS FAMILIAR WITH INDEPENDENT SCHOOLS. A WRITTEN CONTRACT (HEAD OF SCHOOL'S CONTRACT) OF DUTIES AND RESPONSIBILITIES ALONG WITH SALARY AND BENEFITS IS PROVIDED EACH YEAR AFTER THE ANNUAL PERFORMANCE REVIEW. THE CFO IS HIRED BY THE HEAD of school UNDER THE ADVICE AND CONSENT OF THE BOARD OF TRUSTEES. THE CFO RECEIVES A WRITTEN CONTRACT WHICH DELINEATES DUTIES AND RESPONSIBILITIES ALONG WITH SALARY AND RELATED BENEFITS. BENEFITS RECEIVED ARE THE SAME PACKAGE AS PROVIDED TO OTHER EMPLOYEES OF THE SCHOOL. COMPENSATION IS DETERMINED BASED ON QUALIFICATIONS AND EXPERIENCE AS MEASURED AGAINST THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL NORMS AND CONSULATION WITH THE CONSULTANTS FAMILIAR WITH INDEPENDENT SCHOOLS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC AS PART OF THE 990 PUBLIC DISCLOSURE FILE.