2017-05-11T13:21:34-05:00 2016-06-30 020354851 MELANSON HEATH & COMPANY PC 102 PERIMETER ROAD NASHUA NH 03063 990 2015-07-01 030179305 PUTNEY SCHOOL INC PUTN 8023876215 418 HOUGHTON BROOK ROAD PUTNEY VT 053468675 RANDALL D SMITH CFO 8023876245 2017-05-11 1 SHERYL L STEPHENS-BURKE CPA P00085224 6038821111 2017-05-11 2015 2021-01-29 14:40:06Z TONIA WHEELER 418 HOUGHTON BROOK ROAD PUTNEY VT 053468675 54784610 0 X WWW.PUTNEYSCHOOL.ORG X 1935 VT INDEPENDENT, COEDUCATIONAL BOARDING AND DAY SECONDARY SCHOOL 24 24 280 176 0 0 1862187 2736875 12056950 12324813 865099 1526198 37155 104524 14821391 16692410 2857663 2828498 0 0 5837544 6004268 0 0 596811 5551736 5620319 14246943 14453085 574448 2239325 42195372 42797760 4518222 4668644 37677150 38129116 X THE ORGANIZATION IS COMMITTED TO DEVELOPING EACH STUDENT'S FULL INTELLECTUAL, ARTISTIC AND PHYSICAL POTENTIAL. STUDENTS ARE ENCOURAGED TO CHALLENGE THEMSELVES INTELLECTUALLY, TO PURSUE RIGOROUS LEARNING FOR ITS OWN SAKE, TO ACTIVELY PARTICIPATE IN AND APPRECIATE THE ARTS, TO CONTRIBUTE MEANINGFULLY TO THE WORK PROGRAM THAT SUSTAINS THE SCHOOL COMMUNITY AND THE FARM ON WHICH IT IS LOCATED, TO ENGAGE IN VIGOROUS ATHLETICS, AND TO DEVELOP A SOCIAL CONSCIOUSNESS AND WORLD VIEW THAT WILL PROVIDE THE FOUNDATION FOR LIFE-LONG MORAL AND INTELLECTUAL GROWTH. (ADOPTED 06/08/97) 0 0 10649120 2828498 12324813 THE PUTNEY SCHOOL PROVIDES AN EDUCATIONAL PROGRAM FOR APPROXIMATELY 218 HIGH SCHOOL STUDENTS IN A COEDUCATIONAL BOARDING SCHOOL SETTING. 10649120 1 1 0 0 0 0 1 1 0 1 1 0 0 0 0 1 1 0 1 0 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 66 0 1 280 1 0 0 0 0 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 VT X RANDALL D SMITH CFO 8023876245 PUTNEY SCHOOL ELM LEA FARM PUTNEY VT 05346 TONIA WHEELER CHAIR 1.00 X 0 0 0 IRA T WENDER VICE CHAIR 1.00 X 0 0 0 KATY WOLFE CLERK 1.00 X 0 0 0 LAKSHMAN ACHUTHAN TRUSTEE 1.00 X 0 0 0 JOHN BIDWELL TRUSTEE 1.00 X 0 0 0 DANIEL BLOOD TRUSTEE 1.00 X 0 0 0 DINAH BUECHNER-VISCHER TRUSTEE 1.00 X 0 0 0 LEE COMBRINCK-GRAHAM TRUSTEE 1.00 X 0 0 0 FREDDY FRIEDMAN TRUSTEE 1.00 X 0 0 0 JOSHUA GOLDBERG TRUSTEE 1.00 X 0 0 0 STEPHEN HEYNEMAN TRUSTEE 1.00 X 0 0 0 DANA HOKIN TRUSTEE 1.00 X 0 0 0 LIBBY HOLMES TRUSTEE 1.00 X 0 0 0 WILLIAM KELLETT TRUSTEE 1.00 X 0 0 0 JOSHUA LOUGHLIN TRUSTEE 1.00 X 0 0 0 CHRISTOPHER LEHMANN-HAUPT TRUSTEE 1.00 X 0 0 0 FRANZ PAASCHE TRUSTEE 1.00 X 0 0 0 PETER PEREIRA TRUSTEE 1.00 X 0 0 0 ROBERT RAYNOLDS TRUSTEE 1.00 X 0 0 0 MARNI ROSNER TRUSTEE 1.00 X 0 0 0 MICHAEL SARDINAS TRUSTEE 1.00 X 0 0 0 IRIS WANG TRUSTEE 1.00 X 0 0 0 HA STUDENT TRUSTEE 1.00 X 0 0 0 SUPAWAT STUDENT TRUSTEE 1.00 X 0 0 0 RANDALL SMITH TREASURER/CFO 40.00 X 122055 0 21272 EMILY JONES HEAD OF SCHOOL 40.00 X 187050 0 16707 JOHN BARRENGOS ADMISSIONS DIRECTOR 40.00 X 104500 0 20348 HUGH MONTGOMERY DIRECTOR OF DEVELOPMENT 40.00 X 104500 0 16112 518105 0 74439 4 0 1 0 FITZ VOGT & ASSOCIATES LTD PO BOX 415512 BOSTON MA 022415512 DINING HALL SERVICE 670600 MACMILLIN COMPANY LLC 17 ELM ST KEENE NH 03431 CONSTRUCTION 312683 MACLAY ARCHITECTS 4509 MAIN ST WAITSFIELD VT 05673 ARCHITECTURAL SERVICE 108842 3 2736875 267276 2736875 TUITION AND FEES 900099 11756960 11756960 TUTORING 900099 308843 308843 LAND USE REVENUE 900099 145628 145628 OTHER CHARGES AND TUITION 900099 113382 113382 12324813 248301 248301 39370097 38092200 1277897 1277897 1277897 OTHER 611710 73289 73289 BOOKSTORE 611710 20735 20735 APPLICATION FEE REVENUE 611710 10500 10500 104524 16692410 12324813 0 1630722 2707298 2707298 121200 121200 351356 203920 147436 4283003 3128580 767286 387137 306827 225418 53325 28084 661840 525967 92933 42940 401242 310961 61723 28558 14528 14528 31092 31092 17745 17745 13863 13863 11865 5978 2470 3417 22557 22557 779027 779027 146796 67348 52981 26467 13467 10778 2689 65888 65888 1114489 1114489 265938 265938 INSTRUCTIONAL EXPENSES 1389095 1389095 RESIDENTIAL EXPENSES 769517 769517 LAND USE EXPENSES 216554 216554 SUMMER PROGRAM 187479 187479 560419 480211 80208 14453085 10649120 3207154 596811 4415794 3167321 1630322 1310963 99862 144426 141355 168957 173918 201500 34511324 16344126 18065284 18167198 17668837 19637395 42195372 42797760 189209 455075 2098709 2139998 2160187 2073571 70117 0 4518222 4668644 X 21214995 21894126 3363027 2738289 13099128 13496701 37677150 38129116 42195372 42797760 2239325 -1787359 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 1 72.00 0 0 0 1 0 0.00 0 X X 0 21697696 1604882 -261161 993924 22047493 20902668 1461137 192069 858178 21697696 18679883 1925461 2071807 1774484 20902668 16585920 1502074 1295855 703966 18679883 17004111 614167 -233239 799119 16585920 0.26000 0.61000 0.13000 0 0 93652 93652 30493911 13131801 17362110 3642109 3212325 429784 281652 281652 18167198 X 12076553 -1787359 -1787359 13863912 2828498 2828498 16692410 11624587 0 11624587 2828498 2828498 14453085 PART III, LINE 1A: COLLECTIONS: THE SCHOOL'S COLLECTION IS COMPRISED OF VARIOUS ART OBJECTS THAT ARE HELD FOR EDUCATIONAL AND CURATORIAL PURPOSES. THE SCHOOL IS CURRENTLY IN THE PROCESS OF CATALOGING EACH PIECE. EACH ITEM IS CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION, ARE PERFORMED REGULARLY. THE SCHOOL HAS NOT ADOPTED A POLICY TO CAPITALIZE ITS COLLECTIONS; THEREFORE, IN ACCORDANCE WITH FASB 116, CONTRIBUTIONS OF ARTWORK ARE NOT RECOGNIZED IN REVENUE. IN THE EVENT OF THE SALE OF CONTIBUTED ARTWORK, THE SCHOOL RECOGNIZES THE PROCEEDS AND INCREASES THE APPROPRIATE CLASS OF NET ASSETS. PART V, LINE 4: SEE DETAILED DESCRIPTION OF THE INTENDED USE OF ENDOWMENT FUNDS ON THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS. PART X, LINE 2: THE PUTNEY SCHOOL, INC. IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). THE SCHOOL HAS ALSO BEEN CLASSIFIED AS AN ENTITY THAT IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) AND QUALIFIES FOR DEDUCTIBLE CONTRIBUTIONS. THE SCHOOL FOLLOWS FASB ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. FASB ASC 740-10 DID NOT HAVE A MATERIAL IMPACT ON THE SCHOOL'S FINANCIAL STATEMENTS. THE SCHOOL'S FEDERAL FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) FOR FISCAL YEARS IS SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER FILING. THE SCHOOL RECOGNIZES INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES THAT ARE INCLUDED WITHIN REPORTED EXPENSES. DURING THE YEAR ENDED JUNE 30, 2016, THE SCHOOL HAD NO INTEREST OR PENALTIES ACCRUED RELATED TO UNRECOGNIZED TAX BENEFITS. PART XI, LINE 4B - OTHER ADJUSTMENTS: TUITION REDUCED BY FINANCIAL AID 2,828,498. ROUNDING ADJUSTMENT PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REDUCTIONS AGAINST TUITION 2,828,498. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE POLICY IS STATED IN LITERATURE AND BROCHURES PROVIDED TO ALL CURRENT AND POTENTIAL STUDENTS. IT IS ALSO PUBLISHED IN LOCAL NEWSPAPERS AND ON THE SCHOOL'S WEBSITE. 0 0 0 0 0 0 0 0 0 0 FINANCIAL AID GIVEN BY THE ORGANIZATION TO FOREIGN STUDENTS ATTENDING THE SCHOOL. RWANDA 1 32800 REDUCTION IN TUITION FOR STUDENTS WHO QUALIFY FOR FINANCIAL AID. FMV FINANCIAL AID GIVEN BY THE ORGANIZATION TO FOREIGN STUDENTS ATTENDING THE SCHOOL. VIETNAM 1 36400 REDUCTION IN TUITION FOR STUDENTS WHO QUALIFY FOR FINANCIAL AID. FMV FINANCIAL AID GIVEN BY THE ORGANIZATION TO FOREIGN STUDENTS ATTENDING THE SCHOOL. FRANCE 2 52000 REDUCTION IN TUITION FOR STUDENTS WHO QUALIFY FOR FINANCIAL AID. FMV 0 0 0 0 0 0 0 FINANCIAL AID GIVEN BY THE ORGANIZATION TO STUDENTS ATTENDING THE SCHOOL. 100 2705178 FMV REDUCTION IN TUITION FOR STUDENTS WHO QUALIFY FOR FINANCIAL AID. X 1 1 X 0 0 0 0 0 0 0 0 0 EMILY JONES HEAD OF SCHOOL 187050 0 0 0 0 0 9353 0 7354 0 203757 0 0 0 X 1 18500 FAIR MARKET VALUE X 3234 199366 FAIR MARKET VALUE X COLLECTION OF CD'S & VINYL 1 12750 FAIR MARKET VALUE X GRAND PIANO 1 7500 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER AND CONTROLLER AND IS THEN PRESENTED TO THE AUDIT COMMITTEE FOR REVIEW, AND EXECUTIVE COMMITTEE FOR APPROVAL, BEFORE AFFIRMATION BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REVIEWS THE POLICY EACH YEAR. FORM 990, PART VI, SECTION B, LINE 15A THE HEAD OF SCHOOL'S SALARY IS DETERMINED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD AND IS AVAILABLE FOR REVIEW BY ANY SCHOOL BOARD MEMBER. EXECUTIVE COMPENSATION FOR ALL EMPLOYEES, OTHER THEN THE HEAD OF SCHOOL, IS SET BY SCHOOL MANANGEMENT. MANAGEMENT INCREASES ARE TIED TO STAFF AND FACULTY INCREASES. FACULTY AND STAFF INCREASES ARE SET AT A PERCENTAGE EACH YEAR BY THE BOARD. THERE IS ALSO A SCALE ASSOCIATED WITH TIME SERVED FOR FACULTY. TO SET SALARIES, A COMPARISON IS DONE BETWEEN SIMILAR POSITIONS AT SCHOOLS IN THE INDEPENDENT SCHOOL ASSOCIATION OF NORTHERN NEW ENGLAND (ISANNE). OUR GOAL IS TO HAVE MANAGEMENT AT OR NEAR THE MEDIAN OF THEIR PEER GROUP. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT HAS OVERSIGHT OF THE AUDIT THAT IS PERFORMED EACH YEAR. THIS HAS NOT CHANGED FROM THE PRIOR YEAR.