2017-03-03T11:37:23-06:00 2015-06-30 020476956 TYLER SIMMS & ST SAUVEUR CPA PC 19 MORGAN DRIVE LEBANON NH 03766 990 2014-07-01 030179600 VERMONT ACADEMY VERM 8028696200 PO BOX 500 SAXTONS RIVER VT 05154 STANLEY COLLA INTERIM HEAD OF SCHOOL 8028696200 2017-02-23 1 JAMES N GODFREY CPA P00913422 6036530044 2017-02-20 2014 2021-01-29 14:40:06Z X STANLEY COLLA PO BOX 500 SAXTONS RIVER VT 05154 15362851 0 X VERMONTACADEMY.ORG X 1876 VT WE ARE DEVOTED TO CREATING CONFIDENT AND INDEPENDENT LEARNERS THROUGH PERSONAL ATTENTION IN A UNIQUE VERMONT ENVIRONMENT. WE BELIEVE IN OUR STUDENTS AND IN THEIR CAPACITY TO LEARN AND DEVELOP INTO RESPONSIBLE, SELF-DISCIPLINED ADULTS. OUR FACULTY AND STAFF ARE COMMITTED TO HELPING STUDENTS DISCOVER THEIR INDIVIDUAL TALENTS AND DEVELOP THE CHARACTER, STRENGTH, AND SKILLS TO MEET THE CHALLENGES IN THEIR LIVES. 27 24 234 5 26680 -1828 2436959 898851 11606434 12142837 796991 631906 73686 112426 14914070 13786020 2418037 2552386 0 0 6243885 6430739 0 0 725855 4544065 4862546 13205987 13845671 1708083 -59651 25857856 27494722 6503533 6025235 19354323 21469487 TO PROVIDE A SUPPORTIVE COMMUNITY AND CLOSE PERSONAL ATTENTION TO ITS STUDENTS, VERMONT ACADEMY DEVELOPS CONFIDENT, ACTIVE LEARNERS AND RESPECTFUL CITIZENS 0 0 11148385 2552386 11669619 VERMONT ACADEMY IS A PRIVATE BOARDING AND DAY SCHOOL PROVIDING A BROAD CURRICULUM AND AN EXTENSIVE ATHLETIC PROGRAM. PROGRAMS OF NOTE ARE FOUND IN THE LEARNING SKILLS PROGRAM, THE ARTS, AND IN OUR SCIENCE AND ENGINEERING CURRICULUM. 273327 473218 VERMONT ACADEMY IS HOST TO A SUMMER PROGRAM HELD DURING THE SUMMER RECESS THAT FEATURES EDUCATIONAL AND PROFESSIONAL STUDY AND REVIEW FOR PREMIER SCIENTISTS IN THE FIELD OF BIOLOGY AND LIFE SCIENCES. 11421712 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 1 74 0 1 234 1 1 1 0 0 0 0 0 0 0 0 0 X 27 24 1 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 1 0 0 VT NH X INESSA MUSE 8028696200 10 LONG WALK VERMONT ACADEMY SAXTONS RIVER VT 05154 JOSE BARREIRO HERNANDEZ TRUSTEE 1.00 X 0 0 0 CAROLYN BLITZ SECRETARY 1.00 X X 0 0 0 MARK CANDON TRUSTEE 1.00 X 0 0 0 MICHAEL A CHOUKAS CHAIRMAN 1.00 X X 0 0 0 CASEY COTA TRUSTEE 1.00 X 0 0 0 CHRIS COTA TREASURER 1.00 X X 0 0 0 CARRIE DUNN TRUSTEE 1.00 X 0 0 0 STUART EISENKRAFT TRUSTEE 1.00 X 0 0 0 PENNY GENDRON TRUSTEE 1.00 X 0 0 0 MARK W SMITH TRUSTEE 1.00 X 0 0 0 ANDREW WARD TRUSTEE 1.00 X 0 0 0 THOMAS CAPASSE TRUSTEE 1.00 X 0 0 0 THE REV DR PETER HOWE TRUSTEE 1.00 X 0 0 0 STEVEN E KAROL TRUSTEE 1.00 X 0 0 0 TIMOTHY J LORD TRUSTEE 1.00 X 0 0 0 DONALD G MCINNES TRUSTEE 1.00 X 0 0 0 GEORGE P MOSER JR TRUSTEE 1.00 X 0 0 0 MARVIN S NEUMAN TRUSTEE 1.00 X 0 0 0 DAVID E ROBINSON VICE CHAIRMAN 1.00 X X 0 0 0 LEE RYDER TRUSTEE 1.00 X 0 0 0 CAROLINE SALZMAN TRUSTEE 1.00 X 0 0 0 JAMISON R GAGNIER TRUSTEE 1.00 X 0 0 0 RICHARD I STARK JR TRUSTEE 1.00 X 0 0 0 S TYLOR TREGALLAS TRUSTEE 1.00 X 0 0 0 DAVID HOLTON TRUSTEE 1.00 X 0 0 0 MICHAEL HOROWITZ TRUSTEE 1.00 X 0 0 0 MELISSA WING TRUSTEE 1.00 X 0 0 0 SEAN P BRENNAN HEAD OF SCHOOL 40.00 X 226438 0 44502 SEAN P CAMPBELL CFO 40.00 X 89412 0 9035 JAY GUNDY DIRECTOR OF ADVANCEMENT 40.00 X 106625 0 36672 422475 0 90209 2 0 1 0 0 X 898851 38493 898851 TUITION 611710 10566302 10566302 PROGRAM SUPPORTING REV 611710 1103317 1103317 SUMMER PROGRAM REV. 611710 473218 473218 12142837 398541 398541 82725 0 82725 82725 26680 56045 1801092 500 1566209 2018 234883 -1518 233365 233365 38305 8604 29701 29701 13786020 12142837 26680 717652 2552386 2552386 335358 335358 4767326 3718137 691237 357952 204340 155493 37740 11107 740142 527545 174915 37682 383573 268501 95893 19179 19888 19888 42407 42407 20403 20403 59622 57812 1810 296073 207810 59144 29119 46289 46289 220049 220049 264292 211237 42708 10347 57878 57878 711664 711664 171901 137417 34484 EDUCATION PROGRAM 619646 613671 5969 6 PLANT EXPENSE 470891 470891 DINING HALL 417989 417989 ATHLETIC PROGRAM 261317 261317 1182237 785626 137958 258653 13845671 11421712 1698104 725855 915386 412497 203019 153245 556831 389148 167084 150312 188164 170264 24651677 12451224 12833234 12200453 10992713 11052497 1425 2966306 25857856 27494722 684398 812223 216729 140430 1735100 1625747 3867306 3446835 6503533 6025235 X 9380271 10777061 3123612 2791308 6850440 7901118 19354323 21469487 25857856 27494722 -59651 -332723 2507538 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 10514599 297523 72905 330735 10554292 7952848 1519791 1333607 291647 10514599 7475652 62943 855565 441312 7952848 7550354 283352 -106506 251548 7475652 6504506 265860 1032345 252357 7550354 0.22770 0.52230 0.25000 0 0 276624 276624 19874932 9136698 10738234 1392343 1227296 165047 2651547 2087230 564317 456231 456231 12200453 DEPOSITS 1425 INVESTMENT PROPERTY 576987 BENEFICIAL INTEREST IN TRUST 2387894 2966306 ADVANCED TUITION 2956088 SPLIT-INTEREST ANNUITIES 450437 CAPITAL LEASE OBLIGATION 40310 3446835 X 10809810 -332723 -2629592 -2962315 13772125 20403 -6508 13895 13786020 11202184 8604 8604 11193580 2652091 2652091 13845671 PART V, LINE 4: VERMONT ACADEMY USES ENDOWMENT FUNDS IN SEVERAL WAYS-SPECIFIC FUNDS FOR STATED PURPOSES ARE USED FOR THOSE PURPOSES-PROMOTING THE PROGRAM AS STATED BY THE DONOR. MOST FUNDS THAT ARE SPECIFICALLY DIRECTED ARE DIRECTED TO FINANCIAL AID/SCHOLARSHIP AND THOSE FUNDS ARE USED FOR FINANCIAL AID SCHOLARSHIP. FINALLY ANY UNSPECIFIED FUNDS ARE USED FOR GENERAL SUPPORT OF THE SCHOOL AND GENERALLY WOULD BE CONSIDERED TO HAVE BEEN SPENT ON FINANCIAL AID FOR WHICH THE SCHOOL SPENDS APPROXIMATELY 2,500,000 PER YEAR. PART X, LINE 2: THE ACADEMY QUALIFIES AS AN ORGANIZATION EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THEREFORE, NO TAX PROVISIONS HAVE BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. ASC SUBTOPIC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, ADDRESSES THE ACCOUNTING UNCERTAINTY OF INCOME TAXES RECOGNIZED IN AN ENTERPRISE'S FINANCIAL STATEMENTS AND PRESCRIBES A THRESHOLD OF "MORE-LIKELY-THAN-NOT" FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. SUBTOPIC 740-10 ALSO PROVIDES GUIDANCE ON MEASUREMENT CLASSIFICATION, INTEREST AND PENALTIES AND DISCLOSURE. THE ACADEMY HAS DETERMINED THAT THE PROVISIONS OF SUBTOPIC 740-10 DO NOT HAVE A MATERIAL EFFECT ON THE ACADEMY'S FINANCIAL STATEMENTS. THE ACADEMY BELIVES IT IS NO LONGER SUBJECT TO EXAMINATIONS FOR YEARS PRIOR TO 2012. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -2,552,386. PROVISION FOR SPLIT INTEREST AGREEMENTS -77,206. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE -8,604. GIFT-IN-KIND ADJUSTMENT 2,096. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 8,604. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,552,386. INVESTMENT EXPENSE 20,403. PROVISION FOR SPLIT INTEREST 77,206. GIFT-IN-KIND ADJUSTMENT 2,096. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 VERMONT ACADEMY'S NON-DISCRIMINATION POLICY IS PUBLISHED IN SCHOOL LITERATURE, MAGAZINE ADVERTISING, AND THE BOSTON GLOBE. PARENTS AUCTION 38305 38305 8604 38305 38305 8604 8604 29701 1 FINANCIAL AID 108 2552386 FMV SUBSIDIZED TUITION, PROGRAM FEES, AND BOARD. SCHEDULE I THE NAMES AND ADDRESSES OF THE RECIPIENTS ARE AVAILABLE AT THE BUSINESS OFFICE. X X 1 1 X X 0 0 0 0 0 0 0 0 0 SEAN P BRENNAN HEAD OF SCHOOL 226438 0 0 0 0 0 12273 0 32229 0 270940 0 0 0 PART I, LINE 1A HOUSING IS PROVIDED TO THE ACADEMY'S HEADMASTER. CHRIS COTA ACADEMY TRUSTEE 109082 THE ACADEMY PURCHASES A PORTION OF ITS HEATING FUEL AND ALSO RECEIVES SERVICE ON THEIR HEATING EQUIPMENT FROM A COMPANY WHOSE SHAREHOLDER IS ALSO A TRUSTEE OF THE ACADEMY 0 CASEY COTA ACADEMY TRUSTEE 109083 THE ACADEMY PURCHASES A PORTION OF ITS HEATING FUEL AND ALSO RECEIVES SERVICE ON THEIR HEATING EQUIPMENT FROM A COMPANY WHOSE SHAREHOLDER IS ALSO A TRUSTEE OF THE ACADEMY 0 DAVID HOLTON ACADEMY TRUSTEE 221449 THE ACADEMY PURCHASES PROPERTY AND CASUALTY INSURANCE FROM AN INSURANCE AGENT WHO IS ALSO A TRUSTEE OF THE ACADEMY 0 X 7 37090 PROCEEDS FROM SALE X MISCELLANEOUS 6 1403 FMV 0 0 1 PART I, LINE 32B: VERMONT ACADEMY USES MOORS & CABOT, INC. TO SELL ANY STOCK CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 2 CHRIS COTA IS THE UNCLE OF CASEY COTA FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE FORM 990 IS PROVIDED TO THE ORGANIZATION'S GOVERNING BODY BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 15A THE CFO'S SALARY IS SET BY THE HEAD OF SCHOOL. THE HEAD OF SCHOOL'S SALARY IS SET BY THE BOARD OF TRUSTEES AFTER A COMMITTEE REVIEW AND RECOMMENDATION. FORM 990, PART VI, SECTION C, LINE 19 A REQUEST FOR THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS SHOULD BE MADE TO THE BUSINESS OFFICE. PARTS I, LINE 7A-7B & PARTS VIII, LINES 6A-6D & 11A-11B COLUMNS (C) & (D) TOWER AND HOCKEY RINK RENTAL ORIGINALLY REFLECTED ON PART VIII, LINES 11A-11B WERE RECLASSIFIED TO GROSS RENTS LINE 6A. TOWER RENTAL WAS ALSO RECLASSIFIED FROM COLUMN C (UNRELATED BUSINESS REVENUE) TO COLUMN D (REVENUE EXCLUDED FROM TAX UNDER SECTIONS 512-514). THESE CHANGES REFLECT THE AMENDMENTS MADE TO FORM 990-T TO REMOVE NH REAL PROPERTY RENTAL ACTIVITY THAT WAS INADVERTENTLY REFLECTED AS UNRELATED BUSINESS TAXABLE INCOME ON THE ORIGINALLY FILED RETURN. THE ACTIVITY RELATES TO THE RENTAL OF LAND THAT IS NOT DEBT-FINANCED FROM A THIRD PARTY AND; THUS, IS EXCLUDED FROM UNRELATED BUSINESS TAXABLE INCOME ACCORDING TO IRC SECTION 512(B)(3)(A)(I). NO PERSONAL PROPERTY IS RENTED WITH THE LAND NOR ARE ANY SERVICES PROVIDED TO A THIRD PARTY RELATED TO THE RENTAL.