2017-02-14T15:01:57-06:00 2016-06-30 020476956 TYLER SIMMS & ST SAUVEUR CPA PC 19 MORGAN DRIVE LEBANON NH 03766 990 2015-07-01 030179600 VERMONT ACADEMY VERM 8028696200 PO BOX 500 SAXTONS RIVER VT 05154 STANLEY COLLA INTERIM HEAD OF SCHOOL 8028696200 2017-02-13 1 JAMES N GODFREY CPA P00913422 6036530044 2017-02-06 2015 2017-02-10 21:41:12Z STANLEY COLLA PO BOX 500 SAXTONS RIVER VT 05154 14332681 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. 21 19 252 18 27230 -7300 898851 937191 12142837 12375620 631906 123317 112426 168999 13786020 13605127 2552386 2797631 0 0 6430739 6981325 0 0 639412 4862546 4840914 13845671 14619870 -59651 -1014743 27494722 27758096 6025235 6580263 21469487 21177833 TO PROVIDE A SUPPORTIVE COMMUNITY AND CLOSE PERSONAL ATTENTION TO ITS STUDENTS, VERMONT ACADEMY DEVELOPS CONFIDENT, ACTIVE LEARNERS AND RESPECTFUL CITIZENS. 0 0 11255189 2797631 12045993 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. 256581 329627 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. 11511770 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 12 0 1 252 1 1 1 0 0 0 0 0 0 0 0 0 X 21 19 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 CORINA BELL-ISLE TRUSTEE 1.00 X 0 0 0 JENNIFER JURY TRUSTEE 1.00 X 0 0 0 MICHAEL A CHOUKAS CHAIRMAN 1.00 X X 0 0 0 CASEY COTA TREASURER 1.00 X X 0 0 0 MELISSA WING TRUSTEE 1.00 X 0 0 0 CARRIE DUNN 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 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 SECRETARY 1.00 X X 0 0 0 S TYLOR TREGELLAS TRUSTEE 1.00 X 0 0 0 RICHARD I STARK JR VICE CHAIR 1.00 X X 0 0 0 DAVID E ROBINSON TRUSTEE 1.00 X 0 0 0 LEE RYDER TRUSTEE 1.00 X 0 0 0 JAMISON R GAGNIER TRUSTEE 1.00 X 0 0 0 SEAN P BRENNAN HEAD OF SCHOOL 40.00 X 208525 0 59966 SEAN P CAMPBELL CFO (THROUGH 12/15) 40.00 X 64036 0 20115 INESSA MUSE CFO (BEGAN DURING YEAR) 40.00 X 56000 0 18936 328561 0 99017 1 0 1 0 0 937191 30407 937191 TUITION 611710 11057676 11057676 PROGRAM SUPPORTING REV 611710 988317 988317 SUMMER PROGRAM REV. 611710 329627 329627 12375620 484352 484352 82837 0 82837 82837 27230 55607 241637 100 222103 380669 19534 -380569 -361035 -361035 46031 1837 44194 44194 164913 122945 41968 41968 13605127 12375620 27230 265086 2797631 2797631 344723 344723 5232818 4026902 835595 370321 948432 716744 165775 65913 455352 48236 407116 17533 17533 93935 93935 25235 25235 73091 55458 17633 220294 91730 128564 76826 9149 45418 22259 52302 52302 423925 423925 293704 216559 67770 9375 58887 58887 720015 720015 196450 148842 47608 UNRELATED BUSINESS INCO 1622 1622 SUPPLIES AND SMALL EQUI 922731 784555 131503 6673 EDUCATION PROGRAMS 706758 706758 REPAIRS AND MAINTENANCE 416976 416976 540630 327209 177114 36307 14619870 11511770 2468688 639412 412497 674856 153245 214658 389148 371878 150312 115875 170264 20093 24749882 13155489 12200453 11594393 11052497 10446759 2966306 4319584 27494722 27758096 812223 1016629 140430 25000 1625747 1518033 3446835 4020601 6025235 6580263 X 10777061 10235562 2791308 2485570 7901118 8456701 21469487 21177833 27494722 27758096 X -1014743 510243 272210 -59364 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 10599584 343013 -210294 373810 10358493 10514599 297523 269747 482285 10599584 7952848 1519791 1333607 291647 10514599 7475652 62943 855565 441312 7952848 7550354 283352 -106506 251548 7475652 0.21830 0.56540 0.21630 0 0 276624 276624 19912349 9621636 10290713 1568263 1261097 307166 2950646 2272756 677890 42000 42000 11594393 INVESTMENT PROPERTY 1719120 BENEFICIAL INTEREST IN TRUST 2600464 4319584 ADVANCED TUITION 3399350 SPLIT-INTEREST ANNUITIES 427549 CAPITAL LEASE OBLIGATION 193702 4020601 X 11357922 510243 -2856995 -2346752 13704674 25235 -124782 -99547 13605127 11921786 124782 124782 11797004 2822866 2822866 14619870 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 2,700,000 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 2013. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -2,797,631. PROVISION FOR SPLIT INTEREST AGREEMENTS -59,364. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE -1,837. COGS -122,945. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 1,837. COGS 122,945. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,797,631. INVESTMENT EXPENSE 25,235. 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 46031 46031 1837 46031 46031 1837 1837 44194 1 FINANCIAL AID 98 2797631 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 208525 0 0 0 0 0 12904 0 47062 0 268491 0 0 0 PART I, LINE 1A HOUSING IS PROVIDED TO THE ACADEMY'S HEADMASTER. CASEY COTA ACADEMY TRUSTEE 143787 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 90217 THE ACADEMY PURCHASES PROPERTY AND CASUALTY INSURANCE FROM AN INSURANCE AGENT WHO IS ALSO A TRUSTEE OF THE ACADEMY 0 X 9 29707 PROCEEDS FROM SALE X MISCELLANEOUS 4 700 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 JENNIFER JURY JOINED THE BOARD AT THE START OF FISCAL YEAR 2016 AND AT THE TIME WAS THE WIFE 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 AND BUSINESS MANAGER'S SALARIES ARE 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. FORM 990, PART XI, LINE 9: NET CHANGE IN SPLIT-INTEREST AGREEMENTS -59,364.