2017-02-15T07:37:17-06:00 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 060646687 KENT SCHOOL KENT 8609276046 PO BOX 2006 KENT CT 06757 JEFFREY D CATALDO ASSISTANT TREASURER & CFO 8609276046 2017-02-14 1 ELIZABETH SOLECKI P00235171 8605614000 2017-02-14 2015 2021-01-29 14:40:06Z JEFFREY D CATALDO PO BOX 2006 KENT CT 06757 45846827 0 X WWW.KENT-SCHOOL.EDU X 1906 CT NON-PROFIT, INDEPENDENT, PREPATORY SCHOOL; EDUCATING APP. 520 BOARDING AND 50 DAY STUDENTS. 29 28 262 0 -57120 -162800 6568663 3606371 33048104 34080070 5535300 3130411 127965 100770 45280032 40917622 7636742 7517025 0 0 16677368 17730947 0 0 1839596 15693480 14648068 40007590 39896040 5272442 1021582 161996675 158204320 50796424 51776774 111200251 106427546 ESTABLISH AND MAINTAIN A SCHOOL WHICH SHALL PROVIDE FOR BOYS AND GIRLS OF ABILITY AND CHARACTER AN ACADEMIC COURSE OF INSTRUCTION. SIMPLICITY OF LIFE, SELF-RELIANCE, AND DIRECTNESS OF PURPOSE ARE TO BE ESPECIALLY ENCOURAGED. 0 0 33409171 7517025 34044470 INDEPENDENT, CO-EDUCATIONAL PREPATORY SCHOOL; EDUCATING BOTH BOARDING AND DAY STUDENTS. SIMPLICITY OF LIFE, SELF-RELIANCE AND DIRECTNESS OF PURPOSE ARE TO BE ESPECIALLY ENCOURAGED IN BOTH BOY AND GIRL STUDENTS. 33409171 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 1 1 0 0 0 1 79 0 1 262 1 0 1 UK 0 0 0 1 1 1 1 0 0 0 X 29 28 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X JEFFREY D CATALDO BUSINESS MGR CFO & ASST TREASURER 8609276046 PO BOX 2006 KENT CT 067570640 DAVID C CLAPP VICE PRESIDENT & TRUSTEE 2.00 X X 0 0 0 ROBERT S ANDERSON TREASURER & TRUSTEE 2.00 X X 0 0 0 CATHLEEN P BLACK TRUSTEE 2.00 X 0 0 0 ANDREW A BOGLE TRUSTEE 2.00 X 0 0 0 FREDERIC A BOURKE III TRUSTEE 2.00 X 0 0 0 JOHN HARVEY TRUSTEE 2.00 X 0 0 0 WILLIAM G CAREY III TRUSTEE 2.00 X 0 0 0 SIR RICHARD B DEARLOVE TRUSTEE 2.00 X 0 0 0 ALICE C FRELINGHUYSEN TRUSTEE 2.00 X 0 0 0 PETER W GETSINGER TRUSTEE 2.00 X 0 0 0 ROBERT F HOERLE TRUSTEE 2.00 X 0 0 0 HENRIK VANDERLIP TRUSTEE 2.00 X 0 0 0 HELEN M PARDOE TRUSTEE 2.00 X 0 0 0 WILLIAM C PETTY III TRUSTEE 2.00 X 0 0 0 LORD JONATHAN ROTHERMERE TRUSTEE 2.00 X 0 0 0 LYNN DOE SHIPWAY TRUSTEE 2.00 X 0 0 0 BRUCE N WHITMAN TRUSTEE 2.00 X 0 0 0 KIMBERLY BRAINARD NAYLOR TRUSTEE 2.00 X 0 0 0 RENE A LACERTE TRUSTEE 2.00 X 0 0 0 WILLIAM W WURTS TRUSTEE 2.00 X 0 0 0 BENJAMIN WARING PARTRIDGE IV PRESIDENT & TRUSTEE 2.00 X X 0 0 0 MAGALEN C WEBERT TRUSTEE 2.00 X 0 0 0 N ROGAN DONELLY TRUSTEE 2.00 X 0 0 0 DR ERNEST W FRANKLIN IV TRUSTEE 2.00 X 0 0 0 AMY MACARTNEY FREIDENRICH TRUSTEE 2.00 X 0 0 0 DR CALESTOUS JUMA TRUSTEE 2.00 X 0 0 0 JAMES A LAWRENCE TRUSTEE 2.00 X 0 0 0 JAMES MCNULTY TRUSTEE 2.00 X 0 0 0 HAKAN N WOHLIN TRUSTEE 2.00 X 0 0 0 RICHARDSON W SCHELL SECRETARY & HEADMASTER 60.00 X 390526 0 122996 JEFFREY D CATALDO ASST. TREASURER & CFO 50.00 X 237877 0 171773 MARC CLOUTIER ASST. SECRETARY & DIR OF DEVELOPEMENT 50.00 X 147982 0 98957 ADAM FISCHER FUNDRAISER 50.00 X 128551 0 28422 KENT ALLEY FUNDRAISER 50.00 X 104159 0 110406 CATHERINE MAZZA DEAN OF STUDENTS 50.00 X 119754 0 70101 TODD MARBLE DIRECTOR OF ATHLETICS 50.00 X 106871 0 36359 SARAH ROSS DIRECTOR OF ADMISSIONS 50.00 X 128672 0 29360 1364392 0 668374 11 0 1 0 ABM JANITORIAL SERVICES PO BOX 1534 NEW YORK NY 10008 CLEANING SERVICE 719775 PERKINS COIE LLP 30 ROCKEFELLER PLAZA NEW YORK NY 10112 LEGAL 371480 DAY PITNEY LLP 7 TIMES SQUARE NEW YORK NY 10036 LEGAL 187903 JACK FERGUSON & ASSOCIATES 203 MARYLAND AVE NE WASHINGTON DC 20002 LEGAL 180108 WILLIAM C GAWEL PO BOX 31 KENT CT 06575 EXCAVATION & SNOW REMOVAL 119785 9 2200 3604171 3606371 TUITION & RELATED SERV. 611710 33276759 33276759 OTHER PROGRAM RELATED FEES 611710 603154 603154 SUMMER RENTAL INCOME 531190 164557 164557 MEMBERSHIP DUES 713940 35600 35600 34080070 1131283 -92720 1224003 6564200 50000 4603697 11375 1960503 38625 1999128 1999128 414903 314133 100770 100770 40917622 34044470 -57120 3323901 7517025 7517025 1158660 230449 638923 289288 69000 69000 11604496 9666646 1176466 761384 1298382 1122122 115840 60420 2738038 2367218 223960 146860 862371 683589 110724 68058 330833 330833 72418 72418 487772 487772 353241 353241 25376 25376 1277424 906069 236480 134875 136889 68169 18619 50101 2963773 2963773 485398 292847 86484 106067 26083 26083 823927 823927 3226097 3032531 161305 32261 288722 288722 EQUIP. RENTAL & MAINT. 1366581 1304223 62358 FOOD 637823 637823 CATALOGUE 9463 9463 2136248 1361056 610993 164199 39896040 33409171 4647273 1839596 13385981 14951409 6090515 5055596 1083586 1201513 236303 190990 355573 380347 119195730 58598954 62766783 60596776 64069737 54479480 13411738 21348209 596459 0 161996675 158204320 2419981 2017362 15877026 18131459 29293271 27197102 3206146 4430851 50796424 51776774 X 49319491 45435147 12686569 10193158 49194191 50799241 111200251 106427546 161996675 158204320 X 1021582 -4187658 -1606629 X 0 1 X 1 0 X 3604886 6174759 2550861 6568663 3606371 22505540 3604886 6174759 2550861 6568663 3606371 22505540 5308814 17196726 925471 1040730 1020738 1322229 1131283 5440451 378841 344895 367989 397150 414903 1903778 29849769 159431000 0.57610 0.54800 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 67427989 2363278 -1170840 3183722 65436705 67039307 3822485 271431 3705234 67427989 59788594 1778186 9657527 4185000 67039307 55822436 1261351 6642807 3938000 59788594 59690734 654696 -864994 3658000 55822436 0.15000 0.73000 0.12000 0 0 705347 705347 96364763 41173106 55191657 12444577 10719858 1724719 9681043 6705990 2975053 60596776 ALTERNATIVE INVESTMENTS 19780256 F REAL ESTATE 250000 F SPLIT INTEREST AGREEMENTS 1317953 F 21348209 ACCRUED PENSION EXPENSE 3784321 POOLED INCOME FUND LIABILITY 293228 LIABILITY UNDER SPLIT INTEREST AGREEMENTS 353302 4430851 28116633 -4187658 -8927464 -13115122 41231755 -314133 -314133 40917622 32889338 1920763 1920763 30968575 8927465 8927465 39896040 PART V, LINE 4: THE INTENDED USE OF THE ORGANIZATION'S ENDOWMENT FUNDS ARE TO SUPPORT THE SCHOOL'S MISSION. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID/TUITION REMISSION -8,445,862. INVESTMENT FEES -481,603. ROUNDING 1. PART XI, LINE 4B - OTHER ADJUSTMENTS: COGS -314,133. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS 314,133. CHANGE IN PENSION LIABILITY 1,606,630. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID/TUITION REMISSION 8,445,862. INVESTMENT FEES 481,603. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 A NOTICE OF OUR NONDISCRIMINATORY POLICY AS TO STUDENTS WAS PUBLISHED IN THE HARTFORD COURANT SCHEDULE E, PART I, LINE 6 KENT SCHOOL RECEIVES A GRANT FROM THE REGION 1 SCHOOL DISTRICT. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 FUNDRAISING 7737 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM ADMISSIONS 7247 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM ADMISSIONS 5141 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM ADMISSIONS 47378 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 PROGRAM ADMISSIONS 1907 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 FUNDRAISING 39171 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 56250 0 0 0 0 0 0 164831 0 164831 0 0 1 0 1 0 1 STUDENT FINANCIAL AID 217 7517025 FAIR VALUE WAIVE TUITION, FEES, AND OTHER CHARGES FOR THOSE STUDENTS WHO QUALIFY FOR AID. PART I, LINE 2: FINANCIAL AID IS PROVIDED VIA A WAIVER OF TUITION, FEES, AND OTHER CHARGES. X X X 1 1 X X X X X X 0 1 0 0 0 0 0 0 0 RICHARDSON W SCHELL SECRETARY & HEADMASTER 388676 0 0 0 1850 0 99216 0 23780 0 513522 0 0 0 JEFFREY D CATALDO ASST. TREASURER & CFO 233777 0 0 0 4100 0 26400 0 145373 0 409650 0 0 0 MARC CLOUTIER ASST. SECRETARY & DIR OF DEVELOPEMEN 147982 0 0 0 0 0 69807 0 29150 0 246939 0 0 0 ADAM FISCHER FUNDRAISER 120915 0 0 0 7636 0 14146 0 14276 0 156973 0 0 0 KENT ALLEY FUNDRAISER 104159 0 0 0 0 0 12787 0 97619 0 214565 0 0 0 CATHERINE MAZZA DEAN OF STUDENTS 119754 0 0 0 0 0 46059 0 24042 0 189855 0 0 0 SARAH ROSS DIRECTOR OF ADMISSIONS 128672 0 0 0 0 0 15222 0 14138 0 158032 0 0 0 PART I, LINE 1A BUSINESS CLASS TRAVEL IS PROVIDED FOR THE HEADMASTER ON CERTAIN EUROPEAN TRIPS. CERTAIN EMPLOYEES, INCLUDING THE HEADMASTER, ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. A CLEANING SERVICE IS PROVIDED FOR THE HEADMASTER'S RESIDENCE. PART I, LINE 4B MARC CLOUTIER PARTICIPATES IN A 457(F) PLAN. A CHEFA 060806186 2013-03-28 17490000 REFUND EXISTING DEBT & ISSUANCE OF NEW DEBT 0 0 0 B CHEFA 060806186 20774YTY3 2014-11-13 12765386 REFUND EXISTING DEBT 0 0 0 A 17490000 786281 155000 7213719 9335000 2014 0 1 1 1 B 12765386 255243 12510143 2004 1 0 1 1 A 0 0 0 0 0.01000 0.01000 0 0 1 B 0 0 0 0 0.01000 0.01000 0 0 1 A 0 1 1 0 0 0 0 0 1 B 0 1 1 0 0 0 0 0 1 A 1 B 1 PART II, LINE 11 - OTHER SPENT PROCEEDS: OTHER SPENT PROCEEDS WERE USED TO REFUND A PRIOR ISSUE. BETTINA CLOUTIER SPOUSE OF AN OFFICER 69000 EMPLOYMENT 0 BENJAMIN WARING PARTRIDGE PRESIDENT & TRUSTEE 229200 RENTAL PAYMENTS 0 SCHEDULE L, PART IV: IN MARCH OF 2013 THE SCHOOL ENTERED INTO A 60 MONTH LEASE FOR A BUILDING AND SURROUNDING PROPERTY WITH A SINGLE MEMBER LLC OWNED BY BENJAMIN WARING PARTRIDGE.EMPLOYMENT OF INTERESTED PERSONS IS REVIEWED AND APPROVED AS APPROPRIATE BASED ON THE INDIVIDUAL'S ABILITY TO PERFORM THE JOB. X 42 140041 FMV X HORSES 3 45000 FMV 2 0 1 0 FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION CONSIST OF THE HEADMASTER AND THE CURRENT MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE ORGANIZATION VOTE ON THE TRUSTEE NOMINATIONS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS VOTE ON AND APPROVE DECISIONS. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 AND ALL RELATED SCHEDULES ARE REVIEWED WITH THE CHAIR OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. THE AUDIT CHAIR HAS RESPONSIBILITY FOR ENSURING BOTH ACCURATE AND COMPLETE FINANCIAL AND TAX DISCLOSURE. ONCE FORM 990 IS APPROVED BY THE AUDIT CHAIR, FORM 990, EXCLUDING THE SCHEDULE B, IS PROVIDED TO ALL VOTING MEMBERS OF THE BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE SCHOOL SURVEYS THE FULL BOARD OF TRUSTEES TO DETERMINE IF A CONFLICT OF INTEREST EXISTS. THE PROCESS IS REVIEWED BY BOTH THE HEADMASTER'S OFFICE AND THE BUSINESS MANAGER'S OFFICE TO CONFIRM NO CONFLICT OF INTEREST OR TO REVIEW THE POSSIBLE CONFLICT AND RESOLVE AS APPROPRIATE. ALL CONFLICTS MUST BE VOTED ON AND APPROVED BY THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION FOR THE HEAD OF SCHOOL IS DETERMINED BY A COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE COMMITTEE WILL CONSIDER THE SKILL SET OF THE HEAD OF SCHOOL, THE EXPERIENCE LEVEL OF THE HEAD OF SCHOOL AND WILL BENCHMARK CURRENT COMPENSATION AND PROPOSED COMPENSATION AGAINST OTHER HEADMASTERS IN OUR PEER GROUP. FURTHER, THE COMMITTEE, IF IT DEEMS APPROPRIATE, WILL LOOK TO THE ADVICE OF A 3RD PARTY CONSULTANT TO VALIDATE COMPENSATION. THE COMMITEE WILL THEN MAKE A RECOMMENDATION AS TO THE COMPENSATION WHICH WILL BE APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD. FOR OTHER OFFICERS AND KEY EMPLOYEES, THE BUSINESS MANAGER AND THE HEADMASTER WILL REVIEW COMPENSATION IN CONJUNCTION WITH JOB RESPONSIBILITY, SKILL SET AND EXPERIENCE. THE JOB WILL THEN BE BENCHMARKED AGAINST OTHER POSITIONS AT OTHER SCHOOLS WITHIN OUR PEER GROUP. THE PROPOSED COMPENSATION WILL THEN BE DISCUSSED AS NECESSARY WITH MEMBERS OF THE BOARD'S EXECUTIVE COMMITTEE. IN THE RECENT PAST, A 3RD PARTY CONSULTANT HAS NOT BEEN USED TO SET THE COMPENSATION FOR OTHER OFFICERS OR KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL'S BY LAWS, CERTIFICATE OF INCORPORATION, AUDITED FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND ALL TAX RELATED DOCUMENTATION WILL BE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN PENSION LIABILITY -1,606,630. ROUNDING 1. PART VII, SECTION A - COMPENSATION: THE KENT SCHOOL HAS DISCLOSED THE VALUE OF HOUSING AS A NONTAXABLE BENEFIT ON PART VII, SECTION A AND ON SCHEDULE J. HOWEVER, THE KENT SCHOOL DOES NOT CONSIDER THE HOUSING TO BE AN EMPLOYEE BENEFIT. HOUSING IS A CONDITION OF EMPLOYMENT THAT IS REQUIRED AND NECESSARY TO ALLOW CERTAIN EMPLOYEES TO PERFORM THEIR JOB RESPONSIBILITIES. POOLED INCOME FUND (21) CHARITABLE TRUST CT T 1 CHARITABLE REMAINDER TRUST (3) CHARITABLE TRUST CT T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0