2016-11-10T07:28:43-06:00 2016-06-30 560574444 CHERRY BEKAERT LLP 1111 Metropolitan Ave Ste 1000 Charlotte NC 28204 990 2015-07-01 560944449 CHARLOTTE LATIN SCHOOLS CHAR 7048467299 9502 providence road charlotte NC 282778695 fletcher gregory ASSISTANT HEADMASTER 7048467299 2016-11-09 1 Janice A Ratica P00358837 7043771678 2015 2017-02-10 21:41:12Z archibald mcintosh 9502 providence road charlotte NC 282778695 45377042 0 X www.charlottelatin.org X 1970 NC CHARLOTTE LATIN IS AN ACCREDITED, INDEPENDENT, CO-EDUCATIONAL, NON-SECTARIAN, COLLEGE-PREPARATORY DAY SCHOOL SERVING 1,409 STUDENTS IN TRANSITIONAL KINDERGARTEN THROUGH THE TWELFTH GRADE. LATIN DOES NOT DISCRIMINATE ON THE BASIS OF SEX, RACE, COLOR, RELIGION, DISABILITY, AGE, OR NATIONAL ORIGIN IN THE ADMINISTRATION OF ITS EDUCATIONAL PROGRAMS, ADMISSIONS POLICIES, FINANCIAL AID POLICIES, EMPLOYMENT PRACTICES, OR OTHER SCHOOL-ADMINISTERED PROGRAMS. 19 19 478 200 0 0 1765903 4863927 29053713 30170213 -10829 -260366 0 0 30808787 34773774 2018730 2160262 0 0 20255057 21370551 28000 0 1850980 9063061 9358968 31364848 32889781 -556061 1883993 78681942 81953688 25500659 26888412 53181283 55065276 X CHARLOTTE LATIN SCHOOL'S MISSION IS TO ENCOURAGE INDIVIDUAL DEVELOPMENT AND CIVILITY IN OUR STUDENTS BY INSPIRING THEM TO LEARN, BY ENCOURAGING THEM TO SERVE OTHERS, AND BY OFFERING THEM MANY GROWTH-PROMOTING OPPORTUNITIES. THROUGH A SHARED COMMITMENT TO EXCELLENCE AND CORE VALUES, THE SCHOOL PROVIDES A STRONG SENSE OF COMMUNITY, WHICH VALUES TEACHING AND CELEBRATES LEARNING. LATIN PROMOTES A BALANCED LEARNING ENVIRONMENT THAT IS TRADITIONAL IN DESIGN, BUT INNOVATIVE IN IMPLEMENTATION. INTELLECTUAL DEVELOPMENT IS ENCOURAGED BY TEACHING CRITICAL THINKING SKILLS AND PROVIDING RELEVANT LEARNING EXPERIENCES IN ALL AREAS OF STUDY. 0 0 22495821 2160262 28313057 FUNDS WERE USED TO PROVIDE COMPREHENSIVE EDUCATIONAL PROGRAMS TO 1,398 STUDENTS IN GRADES PRE-KINDERGARTEN THROUGH GRADE 12. CHARLOTTE LATIN ALSO PROVIDED SCHOLARSHIPS AND FINANCIAL AID TO 195 STUDENTS. 1363906 670035 SPECIAL PROGRAM FEES - Funds were used to provide special programs, such as day care, extended day care, summer camps and clinics and educational resources to students in grades pre-kindergarten to 12. 1977140 1187121 AUXILIARY SERVICES - Funds were used to provide food and transportation services to students in grades pre-kindergarten to 12. 25836867 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 82 0 1 478 1 0 0 0 0 0 0 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NC X FLETCHER GREGORY 7048461100 9502 PROVIDENCE ROAD CHARLOTTE NC 282778695 Kodwo Ghartey-Tagoe Board Member 1.00 X 0 0 0 Lynn G Crutchfield Board Member 1.00 X 0 0 0 Gary James Anderson Board Member 1.00 X 0 0 0 Joanne O'Brien Beam Board Member 1.00 X 0 0 0 William A Bowen Jr Board Member 1.00 X 0 0 0 Robert G Calton III Board Member 1.00 X 0 0 0 Heather S Finke Board Member 1.00 X 0 0 0 Kelly L Katterhagen Board Member 1.00 X 0 0 0 William C Adams Board Member 1.00 X 0 0 0 Edward P Imbrogno Board Member 1.00 X 0 0 0 Thad M Sharrett Board Member 1.00 X 0 0 0 JOycelyn C Lavelle Board Member 1.00 X 0 0 0 Denny Smith O'Leary Board Member 1.00 X 0 0 0 Robert A Schleusner III Board Member 1.00 X 0 0 0 Walker C Simmons Board Member 1.00 X 0 0 0 Eric J Lloyd Immediate Past Chair 1.00 X X 0 0 0 Jean E Davis Chair 1.00 X X 0 0 0 Ruth K Gammon Secretary 1.00 X X 0 0 0 John G Norman Treasurer 1.00 X X 0 0 0 Arch McIntosh Headmaster 50.00 X 388455 0 43070 Fletcher Gregory Associate Headmaster 50.00 X 188323 0 28062 Mark Tayloe Head of Lower School 50.00 X 156873 0 44899 Lawrence Wall Head of Upper School 50.00 X 133120 0 18884 Mary Jane Gallgher Director of Development 50.00 X 139744 0 17973 David Gatoux Athletic Director 50.00 X 126181 0 21390 Debbie Lamm HEAD OF MIDDLE SCHOOL 50.00 X 123978 0 18333 1256674 0 192611 12 0 1 0 UP Time Truck & Fleet Service 1016 Craighead Road Charlotte NC 28206 Bus Repairs 172647 FLIK Compas Group PO Box 417632 Boston MA 02241 Food Services 133922 ALPHAGRAPHICS PO BOX 470097 Charlotte NC 28247 printing 127313 WALSWORTH PUBLISHING PO BOX 310287 des moines IA 50331 yearbooks 122499 JR Creative Construction Inc 5215 Kodiak Ct Charlotte NC 28215 Construction Repairs & Maintenance 116510 7 4863927 899883 4863927 tuition 900099 28313057 28313057 other auxiliary services 900099 616197 616197 summer camp revenue 900099 570924 570924 transportation & field trips 900099 515114 515114 extended care 900099 154921 154921 30170213 802809 802809 9540093 10603268 -1063175 -1063175 -1063175 34773774 30170213 0 -260366 2160262 2160262 647900 431515 216385 16082380 12510974 2535128 1036278 1338742 1035646 220174 82922 1942125 1502421 319408 120296 1359404 1051630 223572 84202 149743 149743 839201 507836 268019 63346 367220 35975 331245 228887 228887 878739 640574 238165 790316 681794 95728 12794 283358 283358 2145618 2145618 184524 184524 materials & supplies 2171846 1675753 429005 67088 repairs & maintenance 694955 694955 programs & assemblies 135059 114223 20836 teacher recruitment 101675 101675 387827 215784 119234 52809 32889781 25836867 5201934 1850980 3303742 4177315 6989933 6760933 997644 3122000 237202 243785 333720 487426 67829109 35646505 31619390 32182604 35012830 34780585 187481 199040 78681942 81953688 2551644 2715155 12108230 13101399 10506330 10739867 334455 331991 25500659 26888412 X 37956168 37822938 5278258 7175960 9946857 10066378 53181283 55065276 78681942 81953688 1883993 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 29012980 508005 -509183 1119962 27891840 29235181 876902 -221579 877524 29012980 25268544 846809 3749560 629732 29235181 22437675 1455546 2221413 846090 25268544 22804396 425801 27172 819694 22437675 0.49870 0.34110 0.16020 0 0 4101641 4101641 54076928 30248393 23828535 9650540 5398112 4252428 32182604 equity and growth funds 2447699 F mutual funds 22537038 F private investment funds 4547437 F Corporate bonds 5248411 F 34780585 deferred compensation 331991 331991 X 32463769 -2160262 -2160262 34624031 149743 149743 34773774 30579776 0 30579776 149743 2160262 2310005 32889781 Part V, Line 4: endowment funds are used for scholarships, general operating expenses, and property and equipment improvements and upkeep. Part X, Line 2: The School is exempt from federal and state income taxation under Section 501(c)(3) of the Internal Revenue Code. However, income unrelated to its exempt function, if any, is subject to income taxation. Management believes that the School continues to satisfy the requirements of a tax-exempt organization and is not subject to tax. Accordingly, no provision for income taxes has been reflected in the accompanying financial statements. The School follows Financial Accounting Standards Board guidance on accounting for uncertainty in income taxes. The School's policy is to record a liability for any tax position taken that is beneficial to the School, including any related interest and penalties, when it is more likely than not the position taken by management with respect to a transaction or class of transactions will be overturned by a taxing authority upon examination. Management believes there are no such positions as of June 30, 2016 and 2015 and, accordingly, no liability has been accrued. Part XI, Line 2d - Other Adjustments: financial assistance shown net of revenue on financials -2,160,262. Part XII, Line 4b - Other Adjustments: financial assistance shown net of revenue on financials 2,160,262. 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 SCHOOL'S RACIALLY NON-DISCRIMINATORY POLICY TOWARDS STUDENTS IS PUBLISHED THROUGH A PRINTED STATEMENT OF THE SCHOOL'S ADMINISTRATION POLICY IN A LOCAL NEWSPAPER AND MAGAZINE ADVERTISEMENTS. 1 scholarships and financial assistance to students 189 2160262 Part I, Line 2: the purpose of the endowed scholarship funds is to provide financial aid (full or partial) for a student who, without aid, could not attend charlotte latin school. in addition to demonstrating financial need, recipients should also demonstrate leadership qualities, a commitment to helping others, a sense of community, and an enthusiasm for activities beyond their classroom studies that will bring positive recognition to them, and through them, to their school. All candidates must follow standard admissions procedures, including testing and interviews. SCHOLARSHIPS ARE NEED AND MERIT-BASED. THEREFORE, ACADEMIC PERFORMANCE AND STRONG CITIZENSHIP, AS WELL AS DEMONSTRATED FINANCIAL NEED, WILL BE CONSIDERED. ONCE THE SCHOLARSHIP IS RECEIVED, THE RECIPIENT WILL CONTINUE TO RECEIVE IT FOR HIS OR HER TENURE AT LATIN, PROVIDED STANDARD CHARLOTTE LATIN SCHOOL REGULATIONS ARE OBSERVED AND ACADEMIC STANDARDS ARE MET. X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 Arch McIntosh Headmaster 388455 0 0 0 0 0 31409 0 11661 0 431525 0 0 0 Fletcher Gregory Associate Headmaster 188323 0 0 0 0 0 20209 0 7853 0 216385 0 0 0 Mark Tayloe Head of Lower School 156873 0 0 0 0 0 13053 0 31846 0 201772 0 0 0 Lawrence Wall Head of Upper School 133120 0 0 0 0 0 14216 0 4668 0 152004 0 0 0 Mary Jane Gallgher Director of Development 139744 0 0 0 0 0 12750 0 5223 0 157717 0 0 0 Part I, Line 1a the head of school, archibald mcintosh, received gross up federal and state tax for reportable benefits received. the school pays the dues for a meals-only club where the head can take various constituents on school related business. Part I, Line 4b $50,000 was contributed to a deferred non-qualified plan on behalf of Archibald Mcintosh. X 23 149883 FMV X 1 750000 appraisal 0 0 1 1 Part I, Line 32b: All noncash or stock gifts are sent or transferred to Wells Fargo Advisors and are immediately sold on our behalf. Thus, only cash contributions come directly to the School. Form 990, Part VI, Section B, line 11 THE 990 DRAFT WILL BE REVIEWED BY THE FINANCE COMMITTEE. IN ORDER TO PROTECT THE PRIVACY OF DONORS, THE PUBLIC DISCLOSURE COPY IS PRESENTED TO THE BOARD PRIOR TO FILING. Form 990, Part VI, Section B, line 12c THE BOARD ANNUALLY REVIEWS and signs THE CONFLICT OF INTEREST POLICY AT ITS FIRST meeting of the school year. in the event there is a conflict during the year, that member will recuse HIMSELF/HERSELF from any discussion or vote. Form 990, Part VI, Section B, line 15 The Executive Committee of the Board of Trustees IS CHARGED WITH THE HEAD'S ANNUAL REVIEW AND, AT CONTRACT TIME, WITH THE CRAFTING OF THE HEAD'S CONTRACT. THE COMMITTEE USES 990 DATA, EXECUTIVE COMPENSATION SURVEY DATA AND NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (nais) DATA and INDEX survey data TO DETERMINE ITS COMPENSATION PACKAGE FOR THE HEAD OF SCHOOL. the discussions are documented in the meeting minutes. regarding other top management officials, the compensation is determined by the headmaster. comparable data from other local, similar sized schools, compensation surveys and data from nais is used to determine salaries. Form 990, Part VI, Section C, line 19 THE organization's governing documents, conflict of interest policy and AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES SELECTS THE INDEPENDENT ACCOUNTING FIRM AND RECEIVES THE AUDITED FINANCIAL STATEMENTS FOR REVIEW AND DISCUSSION.