2016-03-15T00:00:00-05:00 2015-06-30 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2014-07-01 113752853 GRACE CHURCH SCHOOL GRAC 2124755609 86 FOURTH AVENUE NEW YORK NY 100035232 FRANK KAMENAR CFO 2124755609 2016-03-17 1 ROBERT LYONS CPA P00227472 2125038800 2014 2016-08-17 19:52:53Z FRANK KAMENAR 86 FOURTH AVENUE NEW YORK NY 100035232 38564851 0 X WWW.GCSCHOOL.ORG X 2005 NY TO PROVIDE EXEMPLARY EDUCATION FOR CHILDREN REFLECTING THE ETHNIC, RELIGIOUS AND ECONOMIC DIVERSITY OF NEW YORK CITY, REGARDLESS OF A FAMILY'S ABILITY TO PAY TUITION. 27 27 308 300 0 0 1905559 6448226 22048194 25855533 0 1000445 411344 478595 24365097 33782799 4322060 5673428 0 0 15425318 18274533 0 0 408841 8461225 11451531 28208603 35399492 -3843506 -1616693 58629084 101182841 74423098 63066254 -15794014 38116587 X TO PROVIDE EXEMPLARY EDUCATION FOR CHILDREN REFLECTING THE ETHNIC, RELIGIOUS AND ECONOMIC DIVERSITY OF NEW YORK CITY, REGARDLESS OF A FAMILY'S ABILITY TO PAY TUITION. 0 0 32827133 5673428 25855533 GRACE CHURCH SCHOOL SEEKS A STUDENT BODY REFLECTIVE OF THE ETHNIC, RELIGIOUS AND ECONOMIC DIVERSITY OF OUR DOWNTOWN COMMUNITY AND MAINTAINS A POLICY OF NEED-BLIND ADMISSIONS. A STRUCTURED CURRICULUM, ENRICHED WITH BROAD OPPORTUNITIES FOR CREATIVE EXPRESSION, AIMS TO DEVELOP IN EACH CHILD MENTAL KEENNESS, PHYSICAL CONFIDENCE, PLEASURE IN LEARNING, AND THE SKILLS BASIC TO UNDERSTANDING ONE'S SELF AND THE WORLD. OUR STUDENTS ARE THOROUGHLY PREPARED IN ENGLISH, MATHEMATICS, FOREIGN LANGUAGES, SCIENCE, AND HISTORY. STUDIO ART, MUSIC EDUCATION, DRAMA AND PHYSICAL EDUCATION ARE INTEGRAL TO THE CURRICULUM. COMPUTER INSTRUCTION IS INTEGRATED WITH THE SCHOOL'S COURSE OF STUDY. IN 2014-15 THE SCHOOL SERVED 648 STUDENTS ON TWO CAMPUSES, THE EARLY CHILDHOOD AND ELEMENTARY DIVISIONS AT 86 FOURTH AVE, AND THE HIGH SCHOOL DIVISION AT 46 COOPER SQUARE. 32827133 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 51 0 308 1 0 0 0 0 0 1 1 0 0 0 0 X 27 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X FRANK KAMENAR CFO 2124755609 86 FOURTH AVENUE NEW YORK NY 100035232 ELYCE ARONS CHAIR 3.00 X X 0 0 0 MIYOUNG LEE VICE CHAIR 2.00 X X 0 0 0 ROBERT MCCAIN VICE CHAIR 2.00 X X 0 0 0 CYNTHIA GRAHAM TREASURER 2.00 X X 0 0 0 KARIN GREENFIELD-SANDERS SECRETARY 2.00 X X 0 0 0 LESLIE ABBEY TRUSTEE 1.00 X 0 0 0 DANIEL BERGER TRUSTEE 1.00 X 0 0 0 JAMES BERMAN TRUSTEE 1.00 X 0 0 0 LEONA S CHAMBERLIN TRUSTEE 1.00 X 0 0 0 TOM GENIESSE TRUSTEE 1.00 X 0 0 0 OLIVIA DOUGLAS TRUSTEE 1.00 X 0 0 0 ASHLEY LEEDS TRUSTEE 1.00 X 0 0 0 PAULA MADOFF TRUSTEE 1.00 X 0 0 0 SANFORD M PELZ TRUSTEE 1.00 X 0 0 0 SARA B QUEEN TRUSTEE 1.00 X 0 0 0 SCOTT SABBAGH TRUSTEE 1.00 X 0 0 0 DOUGLAS SKRYPEK TRUSTEE 1.00 X 0 0 0 MARGARET TOWLES TRUSTEE 1.00 X 0 0 0 FELICIA WASHINGTON TRUSTEE 1.00 X 0 0 0 ANN MELLOW TRUSTEE 1.00 X 0 0 0 KATE PLATT TRUSTEE 1.00 X 0 0 0 ERIC BISCHOF TRUSTEE 1.00 X 0 0 0 BELLE BURDEN-DAVIS TRUSTEE 1.00 X 0 0 0 DAVON RUSSELL TRUSTEE 1.00 X 0 0 0 ALEXANDRA SCOTT TRUSTEE 1.00 X 0 0 0 DAVID SHEVLIN TRUSTEE 1.00 X 0 0 0 R MITCHELL THEISS TRUSTEE 1.00 X 0 0 0 GEORGE DAVISON HEAD OF SCHOOL 40.00 X 488391 0 75875 FRANK KAMENAR CFO 40.00 X 232981 0 48130 CAROL COLLET ASSISTANT HEAD OF SCHOOL 40.00 X 206523 0 38387 HUGO MAHABIR HEAD HIGH SCHOOL DIVISION 40.00 X 194416 0 39310 BARBARA HANEY HEAD OF LOWER SCHOOL 40.00 X 191368 0 23105 JOYCE KUH DIRECTOR OF DEVELOPMENT 40.00 X 188067 0 35393 MELANIE CHOUKRANE DIRECTOR OF COLLEGE COUNSE 40.00 X 185192 0 8501 CHERYL KELLY HEAD OF EARLY CHILDHOOD 40.00 X 169521 0 51906 1856459 0 320607 35 0 1 0 FLIK PO BOX 417632 BOSTON MA 02241 FOOD SERVICES 531145 ARCHSTONE BUILDERS 242 WEST 30TH STREET NEW YORK NY 10001 HIGH SCHOOL CONSTRUCTION 291344 ALSPECTOR ARCHITECTS 2017 47TH STREET NORTH BERGEN NJ 07047 ARCHITECTURAL SERV. 235220 7 OCEAN GROUP INC 2351 WHITE OAK CT EAST ELMHURTS NY 11370 CLEANING SERVICES 173517 SUNSHINE BUS TRANSPORTATION INC 4809 AVENUE N SUITE 194 BROOKLYN NY 11234 BUS TRANSPORTATION 160398 8 751480 537434 295716 4863596 6448226 TUITION AND TRIP FEES 611710 25430450 25430450 ANCILLARY REVENUE 611710 353658 353658 APPLICATION FEES 611710 71425 71425 25855533 472234 472234 5193349 4665138 528211 528211 528211 116914 751480 116914 0 MISCELLANEOUS INCOME 900099 478595 478595 478595 33782799 25855533 0 1479040 5673428 5673428 1126852 408579 669350 48923 13843655 12764732 942322 136601 932555 885320 39435 7800 1390781 1265542 110353 14886 980690 872927 96092 11671 26645 26645 55300 55300 469468 457023 8165 4280 1004066 958824 27260 17982 4496595 4463111 26263 7221 413945 413945 209599 207502 2097 1049705 1020347 23027 6331 2286644 2166824 93981 25839 256996 244231 8862 3903 FOOD COSTS 707021 644683 29090 33248 MISCELLANEOUS 275221 248062 3319 23840 PRINTING AND PUB. 108141 44229 1045 62867 STAFF REC. AND DEV. 85955 84595 837 523 6230 3229 75 2926 35399492 32827133 2163518 408841 13777532 15890498 6691190 399465 430937 535968 383169 59910865 17510119 42952235 42400746 30726578 3728090 963884 931633 58629084 101182841 2332667 2514425 10643164 13819146 38480135 39705140 431126 330736 22536006 6696807 74423098 63066254 X -15794014 17723475 4762248 15630864 -15794014 38116587 58629084 101182841 X -1616693 259445 55267849 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 31900149 1243614 936898 567500 316500 33196661 27412038 1217414 4035697 482000 283000 31900149 24417754 804369 2865915 419100 256900 27412038 23908308 811989 383457 411600 274400 24417754 20267130 1029891 3786687 639652 535748 23908308 0.54700 0.45300 0 0 1000000 1000000 35259327 12496803 22762524 17053242 959698 16093544 5918682 4053618 1865064 679614 679614 42400746 DEFERRED RENT 6696807 6696807 X PART V, LINE 4: THE ENDOWMENT FUND PROVIDES AN ANNUAL INCOME OF 3% OF ITS MARKET VALUE AS OF THE PREVIOUS DECEMBER 31 FOR THE SUPPORT OF OPERATIONS, INCLUDING PROVIDING FINANCIAL AID TO CERTAIN STUDENTS. PART X, LINE 2: THE SCHOOL HAD NO UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2015, IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, "INCOME TAXES," WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. THE SCHOOL IS NO LONGER SUBJECT TO FEDERAL OR STATE AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS ENDED BEFORE JUNE 30, 2012. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 GRACE CHURCH SCHOOL PUBLISHES ITS NONDISCRIMINATORY POLICY ANNUALLY IN A NEWSPAPER, ON ITS WEBSITE, AND ON THE ADMISSIONS APPLICATION. SCHEDULE E, PART I, LINE 6 GRACE CHURCH SCHOOL IS A RECIPIENT OF A GRANT FROM THE NEW YORK STATE EDUCATION DEPARTMENT TO REIMBURSE NON-PUBLIC SCHOOLS FOR PERFORMING CERTAIN MANDATED SERVICES. PARENT AUCT. 868394 751480 116914 116914 868394 751480 116914 116914 116914 0 1 STUDENT FINANCIAL AID 175 5673428 PART I, LINE 2: THE SCHOOL GRANTED NEEDS-BASED FINANCIAL AID TO 175 STUDENTS DURING THE YEAR ENDED JUNE 30, 2015. PARENTS ARE REQUIRED TO FILL OUT AN APPLICATION DEPICTING THEIR FINANCIAL POSITION ALONG WITH COPIES OF THEIR TAX RETURNS AND THE AMOUNT OF AID THEY ARE REQUESTING. A FINANCIAL AID COMMITTEE REVIEWS THE APPLICATIONS AND AWARDS THE GRANTS BASED ON VARIOUS CRITERIA. X 1 1 X X X 0 0 0 0 0 0 0 0 0 GEORGE DAVISON HEAD OF SCHOOL 488391 0 0 0 0 0 43860 0 32015 0 564266 0 0 0 FRANK KAMENAR CFO 232981 0 0 0 0 0 26323 0 21807 0 281111 0 0 0 CAROL COLLET ASSISTANT HEAD OF SCHOOL 206523 0 0 0 0 0 24875 0 13512 0 244910 0 0 0 HUGO MAHABIR HEAD HIGH SCHOOL DIVISION 194416 0 0 0 0 0 9784 0 29526 0 233726 0 0 0 BARBARA HANEY HEAD OF LOWER SCHOOL 191368 0 0 0 0 0 22443 0 662 0 214473 0 0 0 JOYCE KUH DIRECTOR OF DEVELOPMENT 188067 0 0 0 0 0 22881 0 12512 0 223460 0 0 0 MELANIE CHOUKRANE DIRECTOR OF COLLEGE COUNSE 185192 0 0 0 0 0 5339 0 3162 0 193693 0 0 0 CHERYL KELLY HEAD OF EARLY CHILDHOOD 169521 0 0 0 0 0 22813 0 29093 0 221427 0 0 0 PART I, LINE 1A GEORGE DAVISON RECEIVES A FIXED HOUSING ALLOWANCE UNDER HIS EMPLOYMENT CONTRACT AND IS INCLUDED IN PART II, (B), (I). A BUILD NYC RESOURCE CORPORATION 454040561 2013-07-01 40000000 REFUNDING OF A PRIOR ISSUE AND BANK LOAN; FINANCE THE IMPROVEMENTS OF FACILI 0 0 0 A 40000000 3503616 202819 572486 5732917 33196918 294860 2014 1 0 1 1 A 0 1 1 1 0 0.00000 0.00300 0.00300 0 0 1 A 0 1 1 0 1 0 0 0 1 A 1 PART I (E), PART II, LINE 3: THE BOND ISSUE WAS ISSUED AS A DRAW-DOWN LOAN, AND THE ISSUE PRICE, AMOUNT OF PROCEEDS, AND USES OF PROCEEDS ASSUME ALL EXPECTED DRAWS TO BE MADE. PART I(F): THE PROCEEDS OF THIS BOND ISSUE WERE USED TO REFUND THE SERIES 2006 (DATED 6/28/2006) AND THE M&T LOAN (DATED 6/21/2011) PART III, LINE 7: AS PROVIDED IN TREASURY REGULATION SECTION 1.141-4(C)(2)(I)(B), THE AMOUNT OF PRIVATE PAYMENTS TAKEN INTO ACCOUNT UNDER THE PRIVATE PAYMENT TEST MAY NOT EXCEED THE AMOUNT OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS USE. ACCORDINGLY, THE AMOUNT OF PRIVATE PAYMENTS FOR THE REPORTING PERIOD DOES NOT EXCEED THE AMOUNT STATED IN PART III, LINE 6. THE SCHOOL HAS NOT UNDERTAKEN AN ANALYSIS OF THE PRIVATE SECURITY TEST WITH RESPECT TO THE BONDS, AS THE LEVEL OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS REPORTED IN PART III, LINE 6, IS NOT IN EXCESS OF AMOUNTS PERMITTED UNDER SECTION 145 OF THE CODE. PART IV, LINE 2(B): THE CURRENT REFUNDING PORTION OF THE BOND ISSUE HAS MET THE 6-MONTH EXCEPTION TO REBATE. X 45 896161 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 THE DRAFT FORM 990 IS DISTRIBUTED TO THE AUDIT COMMITTEE AND MADE AVAILABLE TO THE FULL BOARD FOR REVIEW AT THE FOLLOWING FULL BOARD MEETING PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD SECRETARY AT THE BOARD'S ANNUAL MEETING REQUESTS TRUSTEES TO SIGN THE STATEMENT AND RETURN FOR REVIEW AND FILING. FORM 990, PART VI, SECTION B, LINE 15 THE HEAD OF SCHOOL'S CONTRACT IS REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD AND COMPARED TO A BENCHMARK OF COMPARABLE SCHOOLS. ALL OTHER TOP MANAGEMENT IS REVIEWED WITH THE BOARD CHAIR AND COMPARED TO COMPARABLE SCHOOLS. FORM 990, PART VI, SECTION C, LINE 19 A PRINTED COPY OF THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS IS MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: LOSS ON UNCOLLECTIBLE ACCOUNTS -224,087. TRANSFER OF ASSETS FROM FRIENDS OF GRACE CHURCH SCHOOL 56,890,369. OCCUPANCY EXPENSES IN EXCESS OF LEASE PAYMENTS -1,398,433. PART XII, LINE 2C PROCESS HAS NOT CHANGED FROM PRIOR YEAR. FRIENDS OF GRACE CHURCH SCHOOL INC 86 FOURTH AVENUE NEW YORK NY 10003 136226003 TO SUPPORT GRACE CHURCH SCHOOL NY 501(C)(3) 170 B 1 A VI 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 FRIENDS OF GRACE CHURCH SCHOOL INC C 537434 BASED ON NEED OF THE SCHOOL FRIENDS OF GRACE CHURCH SCHOOL INC S 56890370 BASED ON NEED OF THE SCHOOL