2017-05-11T11:44:57-05:00 2016-06-30 061009205 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2015-07-01 042103563 TRUSTEES OF DEERFIELD ACADEMY TRUS 4137740241 PO BOX 87 DEERFIELD MA 013420087 KEITH FINAN ASSOC. HEAD OF SCHOOL & CFO 4137740241 2017-05-05 1 ELIZABETH SOLECKI P00235171 8605614000 2017-05-05 2015 2021-01-29 14:40:06Z KEITH FINAN PO BOX 87 DEERFIELD MA 013420087 120893470 0 X WWW.DEERFIELD.EDU X 1797 MA DEERFIELD ACADEMY IS AN INDEPENDENT SECONDARY SCHOOL COMMITTED TO HIGH STANDARDS OF SCHOLARSHIP, CITIZENSHIP, AND PERSONAL RESPONSIBILITY. THROUGH A RIGOROUS LIBERAL ARTS CURRICULUM, EXTENSIVE CO-CURRICULAR PROGRAM, AND SUPPORTIVE RESIDENTIAL ENVIRONMENT, DEERFIELD ENCOURAGES EACH STUDENT TO DEVELOP AN INQUISITIVE AND CREATIVE MIND, SOUND BODY, AND STRONG MORAL CHARACTER. 28 27 664 536 623505 365904 62989926 5324098 33650688 35880167 5051712 8451875 868569 832298 102560895 50488438 8737844 10067538 0 0 28201644 29972868 23465 0 5138096 21954771 22836328 58917724 62876734 43643171 -12388296 838653448 798976227 69771213 69747796 768882235 729228431 X DEERFIELD ACADEMY IS AN INDEPENDENT SECONDARY SCHOOL COMMITTED TO HIGH STANDARDS OF SCHOLARSHIP, CITIZENSHIP, AND PERSONAL RESPONSIBILITY. THROUGH A RIGOROUS LIBERAL ARTS CURRICULUM, EXTENSIVE CO-CURRICULAR PROGRAM, AND SUPPORTIVE RESIDENTIAL ENVIRONMENT, DEERFIELD ENCOURAGES EACH STUDENT TO DEVELOP AN INQUISITIVE AND CREATIVE MIND, SOUND BODY, AND STRONG MORAL CHARACTER. 0 0 47853338 10067538 35880167 DURING THE 2015-2016 ACADEMIC YEAR, 569 BOARDING AND 69 DAY STUDENTS WERE ENROLLED AT DEERFIELD ACADEMY. OUR PROGRAMS OF SECONDARY EDUCATION (GRADES 9-12) INCLUDE THE DEVELOPMENT OF OUR STUDENTS' ACADEMIC AND SCHOLARSHIP SKILLS, CITIZENSHIP AND CHARACTER. COMMUNITY SERVICE, ATHLETIC PROGRAMS AND EXTRA-CURRICULAR ACTIVITIES ARE INTEGRATED AS A PART OF THE SCHOOL'S LONGSTANDING INTELLECTUAL AND MORAL TRADITION. 47853338 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 1 172 0 1 664 1 1 1 0 0 0 0 0 0 0 0 0 X 28 27 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MA X GREG ROLLAND CONTROLLER 4137741412 DEERFIELD ACADEMY DEERFIELD MA 013420087 COHEN H RODGIN PRESIDENT 8.00 X X 0 0 0 WALLACH SUSAN VICE PRESIDENT 5.00 X X 0 0 0 WRIGHT VICTOR SECRETARY 3.00 X X 0 0 0 RUTH ALICE TREASURER 2.00 X X 0 0 0 CAPUTO RICHARD TRUSTEE 2.00 X 0 0 0 DENUNZIO DAVID TRUSTEE 2.00 X 0 0 0 FARMER KATHERINE TRUSTEE 2.00 X 0 0 0 FLEMING GREGORY TRUSTEE 2.00 X 0 0 0 GARRISON DANIEL TRUSTEE 2.00 X 0 0 0 GOVI LEILA TRUSTEE 2.00 X 0 0 0 GREER PHILIP TRUSTEE 2.00 X 0 0 0 GROSSMAN MATTHEW TRUSTEE 2.00 X 0 0 0 HALE ROBERT TRUSTEE 2.00 X 0 0 0 KOCH DAVID TRUSTEE 2.00 X 0 0 0 KUO STANFORD TRUSTEE 2.00 X 0 0 0 MCENIRY ROGER S TRUSTEE 2.00 X 0 0 0 MCINERNEY MARK TRUSTEE 2.00 X 0 0 0 MOSLEY DANIEL TRUSTEE 2.00 X 0 0 0 NEWTON DIANA TRUSTEE 2.00 X 0 0 0 OFOSU-AMAAH SARA TRUSTEE 2.00 X 0 0 0 ROBERTSON J SPENCER TRUSTEE 2.00 X 0 0 0 ROCKEFELLER MARK TRUSTEE 2.00 X 0 0 0 SIMMONS BRIAN TRUSTEE 2.00 X 0 0 0 STRANDBERG DIANA S TRUSTEE 2.00 X 0 0 0 TERRY LUTHER JR TRUSTEE 2.00 X 0 0 0 VELEZ ANNA TRUSTEE 2.00 X 0 0 0 WHITTON LINDA TRUSTEE 2.00 X 0 0 0 CURTIS MARGARITA O'BYRNE HEAD OF SCHOOL/TRUSTEE 60.00 X X 469452 0 179146 FINAN KEITH CFO 60.00 X 266139 0 51066 MENARD CHRISTOPHER DEAN OF ADVANCEMENT 60.00 X 258370 0 70102 TAYLOR JOHN DEAN OF FACULTY 60.00 X 178939 0 85034 SAFFORD PAM DEAN OF ADMISSIONS & FINANCIAL AID 60.00 X 169769 0 53272 HAGAMEN THOMAS SCHOOL PHYSICIAN 60.00 X 179986 0 65240 WARSAW PETER ACADEMIC DEAN 60.00 X 174460 0 50284 THIEL DAVID DIRECTOR OF COMMUNICATIONS 60.00 X 148739 0 50074 ROMBERGER ANN DIRECTOR OF LEADERSHIP GIFTS 60.00 X 147691 0 29164 COLLINS JULIE DIRECTOR OF BUSINESS SERVICES 60.00 X 143221 0 59160 POND DAVID ASSOCIATE HEAD/DIRECTOR OF DEVELOPMENT 60.00 X 323575 0 38283 2460341 0 730825 22 1 1 0 GRAVES ELECTRIC 390 BALD MOUNTAIN ROAD BERNARDSTON MA 01337 ELECTRICIAN SERVICES 290683 CALLAHAN PAINTING 8A HARKNESS ROAD PELHAM MA 01002 PAINTING & RESTORATION 247867 LITA LLC 58 BAYVIEW STREET BURLINGTON VT 05401 STUDENT TRAVEL ABROAD 232100 590FILMS LLC 190 GREEN STREET SUITE 201 BROOKLYN NY 11222 MEDIA & VIDEO PRODUCTION 211540 DENNIS BOOSKA 169 AVENUE A TURNERS FALLS MA 01376 FLOORING & RENOVATIONS 143338 6 5324098 2142513 5324098 TUITION AND FEES 611710 34674930 34674930 AUXILIARY PROGRAMS 611710 774180 774180 SUMMER EDUCATION 611710 431057 431057 35880167 1923234 268762 1654472 76375592 69846951 6528641 6528641 314441 6214200 1058542 558081 500461 500461 SUMMER SPORTS CAMPS 713940 143158 143158 OTHER REVENUE 900099 125407 125407 OUTSIDE FUNCTION REVENUE 900099 63272 40302 22970 331837 50488438 35880167 623505 8660668 292518 292518 9775020 9775020 1907719 240218 1102807 564694 42500 4250 38250 20753389 15661094 2951289 2141006 2215829 1612375 323636 279818 3429581 2585090 495705 348786 1623850 1181422 256442 185986 39743 39743 72018 72018 803311 803311 489824 120246 188818 180760 91659 34279 28690 28690 878688 367836 384952 125900 794397 427090 325531 41776 3164792 2942907 184654 37231 662225 263032 105181 294012 441022 283572 134110 23340 2101770 2101770 6294981 5853638 367288 74055 679373 631797 39593 7983 FOOD 1173225 1016344 9936 146945 EQUIPMENT 751883 487944 166223 97716 LEGAL SETTLEMENT 515754 515754 TEXTBOOKS 392183 391135 994 54 3489480 1579761 1350375 559344 62876734 47853338 9885300 5138096 10000 10000 27817305 22796359 87160657 67696027 405930 570686 387763 405156 992334 1097429 254120637 54126261 188509202 199994376 245518755 236537805 286724839 266197818 1126663 3670571 838653448 798976227 6589943 8345730 3413246 3340758 55926878 54318017 3841146 3743291 69771213 69747796 X 279719035 283179493 280666579 246592452 208496621 199456486 768882235 729228431 838653448 798976227 -12388296 -27265508 0 X 0 1 X 1 0 X 37502768 39199974 30835396 62989926 5324098 175852162 37502768 39199974 30835396 62989926 5324098 175852162 12568100 163284062 3644978 2458429 3867201 1261481 1654472 12886561 846021 1560618 476615 1658182 365904 4907340 1192081 1104458 1144172 1206318 1206919 5853948 199500011 162286275 0.81850 0.82980 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X EDUCATION 0 550133512 -6674183 -20501710 6299438 12314002 803311 503540868 516856112 20134377 31187162 5685364 11548136 810639 550133512 440455638 22657092 70903580 5341426 11005267 813505 516856112 393452650 11312775 52113283 5128827 10640990 653253 440455638 381567404 17246428 10848821 5084125 10276660 849218 393452650 0.27000 0.40000 0.33000 1 0 5068626 5068626 217366351 40269135 177097216 22551264 9740553 12810711 9134396 4116573 5017823 199994376 HEDGE FUNDS 155597826 F ALTERNATIVE ASSETS 98986237 F CASH AND CASH EQUIVALENTS 11613755 F 266197818 LIFE INCOME OBLIGATIONS 3743291 3743291 13172710 -27265508 -10608301 -37873809 51046519 -558081 -558081 50488438 52826514 558081 558081 52268433 10608301 10608301 62876734 PART III, LINE 1A: CONTRIBUTIONS OF ASSETS OTHER THAN CASH ARE RECORDED AT THEIR ESTIMATED FAIR VALUE AT THE DATE OF GIFT EXCEPT THAT CONTRIBUTIONS OF WORKS OF ART, HISTORICAL TREASURES AND SIMILAR ASSETS HELD AS PART OF COLLECTIONS ARE NOT RECOGNIZED OR CAPITALIZED. PART III, LINE 4: DEERFIELD ACADEMY MAINTAINS A COLLECTION OF ART AND HISTORICAL ITEMS FOR USE IN ITS ADVANCEMENT OF STUDENT EDUCATION AND AS A RESOURCE FOR THE STUDY AND EXPLORATION OF ART, HISTORY, CULTURE, CURRENT AFFAIRS, AESTHETICS, AND MEDIA. PART V, LINE 4: FINANCIAL AID, FACULTY SALARIES, PROFESSIONAL DEVELOPMENT, GENERAL OPERATIONS, AND OTHER. PART XI, LINE 2D - OTHER ADJUSTMENTS: GRANTS-FINANCIAL AID & TUITION REMISSION -9,583,230. UNRELATED BUSINESS INCOME TAX EXPENSE -221,760. INVESTMENT EXPENSE -803,311. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -558,081. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 558,081. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS-FINANCIAL AID & TUITION REMISSION 9,583,230. UNRELATED BUSINESS INCOME TAX EXPENSE 221,760. INVESTMENT EXPENSE 803,311. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 BY PUBLICATION IN REGIONAL NEWSPAPERS - "THE BOSTON GLOBE". THIS IS DONE ANNUALLY. EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, RECRUITMENT & DEVELOPMENT 73711 SOUTH ASIA RECRUITMENT & DEVELOPMENT 15539 NORTH AMERICA RECRUITMENT & DEVELOPMENT 2473 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM RECRUITMENT & DEVELOPMENT 2017 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, RECRUITMENT & DEVELOPMENT 1339 EUROPE (INCLUDING ICELAND & GREENLAND) PROGRAM SERVICES FINANCIAL AID FOR STUDY ABROAD 177380 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, INVESTMENTS 181191703 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES INVESTMENTS 352306 EUROPE (INCLUDING ICELAND & GREENLAND) INVESTMENTS 391997 0 0 0 0 0 0 181816468 391997 182208465 1 0 1 1 1 0 1 TOWN OF DEERFIELD 501(C)(3) 144800 23835 OUT OF POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLECHARITABLE BAYSTATE HEALTH FUND 501(C)(3) 50000 CHARITABLE DEERFIELD AREA FIRE PROTECTION DISTRICT 501(C)(4) 21000 CHARITABLE 2ND HELPINGS 501(C)(3) 15413 OUT OF POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE BIG BROTHERSBIG SISTERS OF FRANKLIN COUNTY 501(C)(3) 13667 OUT OF POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE DEERFIELD ELEMENTARY 501(C)(3) 7418 OUT OF POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE FIRST CHURCH OF DEERFIELD 501(C)(3) 2000 5000 OUT OF POCKET COST HEATING FUEL CHARITABLE FRANKLIN LAND TRUST 501(C)(3) 5000 CHARITABLE 7 1 SCHOLARSHIPS 215 9164630 CASH VALUE TUITION & FEES OTHER STUDENT SUPPORT 83 610390 CASH VALUE OTHER STUDENT SUPPORT PART I, LINE 2: GRANTS ARE PROVIDED VIA A REDUCTION IN TUITION. X X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 CURTIS MARGARITA O'BYRNE HEAD OF SCHOOL/TRUSTEE 446797 0 0 0 22655 0 123558 0 55588 0 648598 0 0 0 FINAN KEITH CFO 248389 0 0 0 17750 0 34636 0 16430 0 317205 0 0 0 MENARD CHRISTOPHER DEAN OF ADVANCEMENT 247600 0 0 0 10770 0 33918 0 36184 0 328472 0 0 0 TAYLOR JOHN DEAN OF FACULTY 173439 0 0 0 5500 0 22913 0 62121 0 263973 0 0 0 SAFFORD PAM DEAN OF ADMISSIONS & FINANCIAL AID 152019 0 0 0 17750 0 21688 0 31584 0 223041 0 0 0 HAGAMEN THOMAS SCHOOL PHYSICIAN 170986 0 0 0 9000 0 23437 0 41803 0 245226 0 0 0 WARSAW PETER ACADEMIC DEAN 174460 0 0 0 0 0 22319 0 27965 0 224744 0 0 0 THIEL DAVID DIRECTOR OF COMMUNICATIONS 142739 0 0 0 6000 0 18729 0 31345 0 198813 0 0 0 ROMBERGER ANN DIRECTOR OF LEADERSHIP GIFTS 147691 0 0 0 0 0 18631 0 10533 0 176855 0 0 0 COLLINS JULIE DIRECTOR OF BUSINESS SERVICES 135721 0 0 0 7500 0 18205 0 40955 0 202381 0 0 0 POND DAVID ASSOCIATE HEAD/DIRECTOR OF DEVELOPME 173575 0 0 0 150000 0 16730 0 21553 0 361858 0 150000 0 PART I, LINE 1A FIRST CLASS TRAVEL IS ALLOWED FOR INTERNATIONAL TRIPS ONLY. CERTAIN PERSONAL SERVICES ARE PROVIDED TO THE HEAD OF SCHOOL AND SPOUSE, TO ASSIST THEM IN FULFILLING THEIR RESPONSIBILITIES AND DUTIES TO THE ACADEMY. THESE POLICIES ARE IN WRITING. EMPLOYEES WHO ARE PROVIDED HOUSING ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. THESE HOMES ARE AVAILABLE FOR HOUSING VISITORS AND FOR OTHER USES DURING SCHOOL SPONSORED EVENTS. PART I, LINE 1B FIRST CLASS TRAVEL IS ALLOWED FOR INTERNATIONAL TRIPS ONLY. CERTAIN PERSONAL SERVICES ARE PROVIDED TO THE HEAD OF SCHOOL AND SPOUSE, TO ASSIST THEM IN FULFILLING THEIR RESPONSIBILITIES AND DUTIES TO THE ACADEMY. THESE POLICIES ARE IN WRITING. PART I, LINE 4B MARGARITA O'BYRNE CURTIS PARTICIPATES IN A 457(F) PLAN. SEPARATELY, MARGARITA O'BYRNE CURTIS AND DAVID POND HAVE NONQUALIFIED DEFERRED COMPENSATION AGREEMENTS WITH THE ACADEMY. DAVID POND RECEIVED PAYMENTS FROM HIS NONQUALIFIED DEFERRED COMPENSATION AGREEMENT OF $150,000 DURING CALENDAR YEAR 2015. A MA DEVELOPMENT FINANCE AGENCY 043431814 57583R3N3 2010-11-10 42925825 TO REFUND PRIOR ISSUES DATED 11/1/1997, 6/26/2003, & 7/16/2008. 0 0 0 B MA DEVELOPMENT FINANCE AGENCY 043431814 2013-05-02 15000000 TO EXPAND AND RENOVATE THE FINE ARTS BUILDING 0 0 0 A 42925825 40506 42328508 556811 2010 1 1 1 1 B 15000000 107600 14892400 2014 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MA DEVELOPMENT FINANCE AGENCY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/10/2015 MANNING CURTIS SPOUSE OF HEAD OF SCHOOL 42500 EMPLOYMENT 0 X 1 0 ART NOT CAPITALIZED X 121 2142513 MARKET VALUE 1 0 1 1 PART I, LINE 32B: DEERFIELD ACADEMY USES A STOCKBROKER TO SELL GIFTS OF PUBLICLY TRADED SECURITIES. FORM 990, PART VI, SECTION A, LINE 7A EXISTING BOARD MEMBERS VOTE IN NEW BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 COPIES OF THIS 2015 FORM 990 WERE SENT TO THE AUDIT COMMITTEE AND THE BOARD PRESIDENT, VICE PRESIDENT AND TREASURER, WHICH REPRESENTS APPROXIMATELY 30% OF THE ENTIRE BOARD. PRIOR TO FILING, A MEETING WITH THE AUDIT COMMITTEE MEMBERS AND MANAGEMENT TOOK PLACE IN ORDER TO REVIEW THE RETURN AND ANSWER ALL QUESTIONS. THIS FORM 990, EXCLUDING SCHEDULE B, WAS PROVIDED TO ALL OTHER MEMBERS OF THE BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BY-LAWS PROHIBIT A TRUSTEE FROM VOTING, APPROVING, OR MAKING A RECOMMENDATION REGARDING A TRANSACTION BETWEEN THE ACADEMY AND AN ENTITY IN WHICH THE INDIVIDUAL OR A MEMBER OF HIS OR HER FAMILY HAS AN OWNERSHIP INTEREST. FORM 990, PART VI, SECTION B, LINE 15A DEERFIELD ACADEMY'S BOARD OF TRUSTEES OVERSEES THE COMPENSATION OF THE ACADEMY'S TOP MANAGEMENT OFFICIALS. HEAD OF SCHOOL - THE PERSONNEL & COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS SALARY AND PERQUISITE DATA FROM OTHER INDEPENDENT SCHOOLS FOR THE POSITION OF HEAD OF SCHOOL TO ENSURE SALARIES ARE REASONABLE AND APPROPRIATE TO THE MARKET. MINUTES OF THE PERSONNEL & COMPENSATION COMMITTEE MEETING ARE MAINTAINED DOCUMENTING THE DISCUSSIONS REGARDING THE SALARY SETTING FOR THE HEAD OF SCHOOL. SENIOR STAFF - THE HEAD OF SCHOOL REVIEWS, IN CONJUNCTION WITH THE PRESIDENT OF THE BOARD, SALARY AND PERQUISITE DATA FROM OTHER INDEPENDENT SCHOOLS FOR OTHER TOP MANAGEMENT OFFICIALS, TO ENSURE SALARIES ARE REASONABLE AND APPROPRIATE TO THE MARKET. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST.