2016-05-06T13:12:00-05:00 2015-06-30 061009205 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2014-07-01 042103563 TRUSTEES OF DEERFIELD ACADEMY TRUS 4137740241 PO BOX 87 DEERFIELD MA 013420087 KEITH FINAN ASSOC HEAD OF SCHOOL & CFO 4137740241 2016-05-03 1 ELIZABETH SOLECKI P00235171 8605614000 2016-04-29 2014 2016-08-17 19:52:53Z KEITH FINAN PO BOX 87 DEERFIELD MA 013420087 164126717 0 X WWW.DEERFIELD.EDU X 1797 MA DEERFIELD ACADEMY IS AN INDEPENDENT SECONDARY SCHOOL COMMITTED TO HIGH STANDARDS OF SCHOLARSHIP, CITIZENSHIP, AND PERSONAL RESPONSIBILITY. THROUGH A RIGOROUS LIBERAL ARTS CURRICULUM, EXTENSIVE CO-CURRICULAR PROGRAM, AND SUPPORTIVE RESIDENTIAL ENVIRONMENT, DEERFIELD ENCOURAGES EACH STUDENT TO DEVELOP AN INQUISITIVE AND CREATIVE MIND, SOUND BODY, AND STRONG MORAL CHARACTER. 29 28 645 655 2065380 1720837 30835396 62989926 32858319 33650688 9632439 5051712 692965 868569 74019119 102560895 7857855 8737844 0 0 27165728 28201644 40061 23465 5472165 20881999 21954771 55945643 58917724 18073476 43643171 766777882 838653448 69417225 69771213 697360657 768882235 X DEERFIELD ACADEMY IS AN INDEPENDENT SECONDARY SCHOOL COMMITTED TO HIGH STANDARDS OF SCHOLARSHIP, CITIZENSHIP, AND PERSONAL RESPONSIBILITY. THROUGH A RIGOROUS LIBERAL ARTS CURRICULUM, EXTENSIVE CO-CURRICULAR PROGRAM, AND SUPPORTIVE RESIDENTIAL ENVIRONMENT, DEERFIELD ENCOURAGES EACH STUDENT TO DEVELOP AN INQUISITIVE AND CREATIVE MIND, SOUND BODY, AND STRONG MORAL CHARACTER. 0 0 44113875 8737844 33650688 DURING THE 2014-2015 ACADEMIC YEAR, 556 BOARDING AND 73 DAY STUDENTS WERE ENROLLED AT DEERFIELD ACADEMY. OUR PROGRAMS OF SECONDARY EDUCATION, (GRADES 9-12), INCLUDE THE DEVELOPMENT OF OUR STUDENTS' ACADEMIC AND SCHOLARSHIP SKILLS, CITIZENSHIP AND CHARACTER. COMMUNITY SERVICE, ATHLETIC PROGRAMS AND EXTRA-CURRICULAR ACTIVITIES ARE INTEGRATED AS A PART OF THE SCHOOL'S LONGSTANDING INTELLECTUAL AND MORAL TRADITION. 44113875 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 1 155 0 1 645 1 1 1 0 0 0 0 0 0 0 0 0 X 29 28 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MA X GREG ROLLAND CONTROLLER 4137741412 DEERFIELD ACADEMY DEERFIELD MA 013420087 COHEN H RODGIN PRESIDENT 8.00 X X 0 0 0 BRONFMAN SAMUEL VICE PRESIDENT 5.00 X X 0 0 0 GROSSMAN ROBIN SECRETARY 3.00 X X 0 0 0 SIMMONS BRIAN TREASURER 2.00 X X 0 0 0 CAPUTO RICHARD TRUSTEE 2.00 X 0 0 0 DENUNZIO DAVID TRUSTEE 2.00 X 0 0 0 EDWIN ANNA TRUSTEE 2.00 X 0 0 0 EVANS SIDNEY H TRUSTEE 2.00 X 0 0 0 FARMER KATHERINE TRUSTEE 2.00 X 0 0 0 FLEMING GREGORY TRUSTEE 2.00 X 0 0 0 GARRISON DANIEL TRUSTEE 2.00 X 0 0 0 GOVI LEILA TRUSTEE 2.00 X 0 0 0 GREER PHILIP TRUSTEE 2.00 X 0 0 0 GROSSMAN MATTHEW TRUSTEE 2.00 X 0 0 0 HALE ROBERT TRUSTEE 2.00 X 0 0 0 KOCH DAVID TRUSTEE 2.00 X 0 0 0 KUO STANFORD TRUSTEE 2.00 X 0 0 0 MCENIRY ROGER S TRUSTEE 2.00 X 0 0 0 MOSLEY DANIEL TRUSTEE 2.00 X 0 0 0 OFOSU-AMAAH SARA TRUSTEE 2.00 X 0 0 0 ROBERTSON J SPENCER TRUSTEE 2.00 X 0 0 0 ROCKEFELLER MARK TRUSTEE 2.00 X 0 0 0 RUTH ALICE TRUSTEE 2.00 X 0 0 0 STRANDBERG DIANA S TRUSTEE 2.00 X 0 0 0 TERRY LUTHER JR TRUSTEE 2.00 X 0 0 0 WALLACH SUSAN TRUSTEE 2.00 X 0 0 0 WHITTON LINDA TRUSTEE 2.00 X 0 0 0 WRIGHT VICTOR TRUSTEE 2.00 X 0 0 0 CURTIS MARGARITA O'BYRNE HEAD OF SCHOOL/TRUSTEE 60.00 X X 434242 0 180335 FINAN KEITH CFO 60.00 X 254875 0 49896 POND DAVID ASSOCIATE HEAD/DIRECTOR OF DEVELOPMENT 60.00 X 317095 0 86669 TAYLOR JOHN DEAN OF FACULTY 60.00 X 169586 0 82880 SAFFORD PAM DEAN OF ADMISSIONS & FINANCIAL AID 60.00 X 162770 0 51769 HAGAMEN THOMAS SCHOOL PHYSICIAN 60.00 X 176315 0 64688 WARSAW PETER ACADEMIC DEAN 60.00 X 159086 0 51570 ZOLKOS TIMM DIRECTOR OF CAPITAL GIVING 60.00 X 150995 0 25065 THIEL DAVID DIRECTOR OF COMMUNICATIONS 60.00 X 145616 0 54374 COLLINS JULIE DIRECTOR OF BUSINESS SERVICES 60.00 X 139373 0 60565 2109953 0 707811 23 0 1 0 GRAVES ELECTRIC 390 BALD MOUNTAIN ROAD BERNARDSTON MA 01337 ELECTRICIAN SERVICES 440148 KLEEBERG MECHANICAL SERVICES LLC ONE EXETER PLAZA BOSTON MA 02116 HVAC INSTALLATION & SERVICES 321120 CALLAHAN PAINTING 8A HARKNESS ROAD PELHAM MA 01002 PAINTING & RESTORATION 212055 ERIC CARRON 14 DEWEY CONRAD AVENUE ORANGE MA 01364 CONSTRUCTION & RENOVATIONS 145065 EDGEWOOD MANAGEMENT LLC 535 MADISON AVENUE 15TH FL NEW YORK NY 10022 INVESTMENT MANAGEMENT 123773 7 62989926 2229912 62989926 TUITION AND FEES 611710 32760987 32760987 AUXILIARY PROGRAMS 611710 748468 748468 SUMMER EDUCATION 611710 141233 141233 33650688 1821536 560055 1261481 64270107 61039931 3230176 3230176 1468318 1761858 1012601 525891 486710 486710 OTHER REVENUE 900099 169024 169024 SUMMER SPORTS CAMPS 713940 151135 151135 OUTSIDE FUNCTION REVENUE 900099 61700 37007 24693 381859 102560895 33650688 2065380 3854901 214589 214589 8523255 8523255 1603435 209794 980102 413539 43464 4346 39118 19627534 14454754 2640244 2532536 2008534 1439478 279750 289306 3410089 2718491 389761 301837 1508588 1079866 234046 194676 93897 93897 61990 61990 23465 23465 771931 771931 328312 73092 123626 131594 275512 275512 1011018 481443 301066 228509 1142336 718007 321156 103173 3017512 2799346 181654 36512 684119 223172 123253 337694 403876 286067 89010 28799 2101075 2101075 5721700 5308021 344446 69233 632818 587065 38096 7657 FOOD 1191059 958290 10997 221772 TAXES 651356 651356 TEXTBOOKS 388344 387454 834 56 ANNUITY PAYMENTS 370283 370283 3107633 1546270 1009556 551807 58917724 44113875 9331684 5472165 10000 10000 23195213 27817305 58138845 87160657 426097 405930 380040 387763 859409 992334 239423205 50914003 178511004 188509202 226548733 245518755 277005120 286724839 1703421 1126663 766777882 838653448 9056260 6589943 2859910 3413246 53455401 55926878 4045654 3841146 69417225 69771213 X 263050923 279719035 236542857 280666579 197766877 208496621 697360657 768882235 766777882 838653448 43643171 27878407 0 X 0 1 X 1 0 X 33514329 37502768 39199974 30835396 62989926 204042393 33514329 37502768 39199974 30835396 62989926 204042393 11524316 192518077 5374646 3644978 2458429 3867201 1261481 16606735 1231053 846021 1560618 476615 1658182 5772489 940880 1192081 1104458 1144172 1206318 5587909 232009526 155086254 0.82980 0.77800 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X EDUCATION 0 516856112 20134377 31187162 5685364 11548136 810639 550133512 440455638 22657092 70903580 5341426 11005267 813505 516856112 393452650 11312775 52113283 5128827 10640990 653253 440455638 381567404 17246428 10848821 5084125 10276660 849218 393452650 318585485 21769820 59408655 5614078 12012478 570000 381567404 0.26000 0.38000 0.36000 1 0 5068626 5068626 201485391 36206479 165278912 24029081 11040729 12988352 8840107 3666795 5173312 188509202 HEDGE FUNDS 169054539 F ALTERNATIVE ASSETS 104849816 F CASH AND CASH EQUIVALENTS 12820484 F 286724839 LIFE INCOME OBLIGATIONS 3841146 3841146 121186592 27878407 -9778601 18099806 103086786 -525891 -525891 102560895 49665014 525891 525891 49139123 9778601 9778601 58917724 PART III, LINE 1A: CONTRIBUTIONS OF ASSETS OTHER THAN CASH ARE RECORDED AT THEIR ESTIMATED FAIR VALUE AT THE DATE OF GIFT EXCEPT THAT CONTRIBUTIONS OF WORKS OF ART, HISTORICAL TREASURES AND SIMILAR ASSETS HELD AS PART OF COLLECTIONS ARE NOT RECOGNIZED OR CAPITALIZED. PART III, LINE 4: DEERFIELD ACADEMY MAINTAINS A COLLECTION OF ART AND HISTORICAL ITEMS FOR USE IN ITS ADVANCEMENT OF STUDENT EDUCATION AND AS A RESOURCE FOR THE STUDY AND EXPLORATION OF ART, HISTORY, CULTURE, CURRENT AFFAIRS, AESTHETICS, AND MEDIA. PART V, LINE 4: FINANCIAL AID, FACULTY SALARIES, PROFESSIONAL DEVELOPMENT, GENERAL OPERATIONS, AND OTHER. PART XI, LINE 2D - OTHER ADJUSTMENTS: GRANTS-FINANCIAL AID & TUITION REMISSION -8,591,623. UNRELATED BUSINESS INCOME TAX EXPENSE -376,339. INVESTMENT EXPENSE -810,639. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -525,891. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 525,891. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS-FINANCIAL AID & TUITION REMISSION 8,591,623. UNRELATED BUSINESS INCOME TAX EXPENSE 376,339. INVESTMENT EXPENSE 810,639. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 BY PUBLICATION IN REGIONAL NEWSPAPERS - "THE BOSTON GLOBE". THIS IS DONE ANNUALLY. EAST ASIA AND THE PACIFIC 0 0 RECRUITMENT & DEVELOPMENT 79115 SOUTH AMERICA 0 0 RECRUITMENT & DEVELOPMENT 3374 CENTRAL AMERICA AND THE CARIBBEAN 0 0 RECRUITMENT & DEVELOPMENT 2837 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES FINANCIAL AID FOR STUDY ABROAD 135253 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 191006159 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 566495 SUB-SAHARAN AFRICA 0 0 INVESTMENTS 2381831 0 0 0 0 0 0 194175064 0 194175064 1 0 1 1 1 0 X X X X 1 MARTS & LUNDY 1200 WALL STREET WEST LYNDHURST NJ 07071 CONSULTS ON STRATEGIC COMMUNICATION 0 0 23465 0 ROBERT BURDENSKI 2736 N HAMPDEN CT 207 CHICAGO IL 60614 CONSULTS ON ANNUAL GIVING 0 0 18713 0 42178 MA 1 TOWN OF DEERFIELD 501(C)(3) 103600 22781 OUT OF POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLECHARITABLE DEERFIELD AREA FIRE PROTECTION DISTRICT 501(C)(4) 20500 CHARITABLE 2ND HELPINGS 501(C)(3) 0 15791 OUT OF POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE BIG BROTHERSBIG SISTERS OF FRANKLIN COUNTY 501(C)(3) 10000 5103 OUT-OF-POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE UNITED WAY OF FRANKLIN COUNTY 501(C)(3) 14278 CHARITABLE FIRST CHURCH OF DEERFIELD 501(C)(3) 2000 9211 OUT OF POCKET COST HEATING FUEL CHARITABLE DEERFIELD ELEMENTARY 501(C)(3) 6954 OUT OF POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE 6 1 SCHOLARSHIPS 205 8071873 CASH VALUE TUITION & FEES OTHER STUDENT SUPPORT 67 451382 CASH VALUE OTHER STUDENT SUPPORT PART I, LINE 2: GRANTS ARE PROVIDED VIA A REDUCTION IN TUITION. X X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 CURTIS MARGARITA O'BYRNE HEAD OF SCHOOL/TRUSTEE 409187 0 0 0 25055 0 126928 0 53407 0 614577 0 0 0 FINAN KEITH CFO 237375 0 0 0 17500 0 33460 0 16436 0 304771 0 0 0 POND DAVID ASSOCIATE HEAD/DIRECTOR OF DEVELOPME 317095 0 0 0 0 0 46177 0 40492 0 403764 0 0 0 TAYLOR JOHN DEAN OF FACULTY 158336 0 0 0 11250 0 21626 0 61254 0 252466 0 0 0 SAFFORD PAM DEAN OF ADMISSIONS & FINANCIAL AID 145270 0 0 0 17500 0 20729 0 31040 0 214539 0 0 0 HAGAMEN THOMAS SCHOOL PHYSICIAN 167565 0 0 0 8750 0 22924 0 41764 0 241003 0 0 0 WARSAW PETER ACADEMIC DEAN 159086 0 0 0 0 0 20177 0 31393 0 210656 0 0 0 ZOLKOS TIMM DIRECTOR OF CAPITAL GIVING 133495 0 0 0 17500 0 19091 0 5974 0 176060 0 0 0 THIEL DAVID DIRECTOR OF COMMUNICATIONS 139616 0 0 0 6000 0 18318 0 36056 0 199990 0 0 0 COLLINS JULIE DIRECTOR OF BUSINESS SERVICES 131873 0 0 0 7500 0 17607 0 42958 0 199938 0 0 0 PART I, LINE 1A FIRST CLASS TRAVEL IS ALLOWED FOR INTERNATIONAL TRIPS ONLY. CERTAIN PERSONAL SERVICES ARE PROVIDED TO THE HEAD OF SCHOOL AND SPOUSE, TO ASSIST THEM IN FULFILLING THEIR RESPONSIBILITIES AND DUTIES TO THE ACADEMY. THESE POLICIES ARE IN WRITING. EMPLOYEES WHO ARE PROVIDED HOUSING ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. THESE HOMES ARE AVAILABLE FOR HOUSING VISITORS AND FOR OTHER USES DURING SCHOOL SPONSORED EVENTS. PART I, LINE 1B FIRST CLASS TRAVEL IS ALLOWED FOR INTERNATIONAL TRIPS ONLY. CERTAIN PERSONAL SERVICES ARE PROVIDED TO THE HEAD OF SCHOOL AND SPOUSE, TO ASSIST THEM IN FULFILLING THEIR RESPONSIBILITIES AND DUTIES TO THE ACADEMY. THESE POLICIES ARE IN WRITING. PART I, LINE 4B MARGARITA O'BYRNE CURTIS PARTICIPATES IN A 457(F) PLAN. SEPARATELY, MARGARITA O'BYRNE CURTIS AND DAVID POND HAVE NONQUALIFIED DEFERRED COMPENSATION AGREEMENTS WITH THE ACADEMY. NO PAYMENTS WERE MADE FROM THESE DURING CALENDAR YEAR 2014. A MA DEVELOPMENT FINANCE AGENCY 043431814 57583R3N3 2010-11-10 42925825 TO REFUND PRIOR ISSUES DATED 11/1/1997, 6/26/2003, & 7/16/2008. 0 0 0 B MA DEVELOPMENT FINANCE AGENCY 043431814 2013-05-02 15000000 TO EXPAND AND RENOVATE THE FINE ARTS BUILDING 0 0 0 A 42925825 40506 42328508 556811 2010 1 1 1 1 B 15000000 107600 14892400 2014 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MA DEVELOPMENT FINANCE AGENCY DATE THE REBATE COMPUTATION WAS PERFORMED: 11/10/2015 MANNING CURTIS SPOUSE OF HEAD OF SCHOOL 43464 EMPLOYMENT 0 X 5 0 ART NOT CAPITALIZED X 115 2229912 MARKET VALUE 0 1 1 PART I, LINE 32B: DEERFIELD ACADEMY USES A STOCKBROKER TO SELL GIFTS OF PUBLICLY TRADED SECURITIES. FORM 990, PART VI, SECTION A, LINE 7A EXISTING BOARD MEMBERS VOTE IN NEW BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 COPIES OF THIS 2014 FORM 990 WERE SENT TO THE AUDIT COMMITTEE AND THE BOARD PRESIDENT, VICE PRESIDENT AND TREASURER, WHICH REPRESENTS APPROXIMATELY 30% OF THE ENTIRE BOARD. PRIOR TO FILING, A MEETING WITH THE AUDIT COMMITTEE MEMBERS AND MANAGEMENT TOOK PLACE IN ORDER TO REVIEW THE RETURN AND ANSWER ALL QUESTIONS. THIS FORM 990, EXCLUDING SCHEDULE B, WAS PROVIDED TO ALL OTHER MEMBERS OF THE BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BY-LAWS PROHIBIT A TRUSTEE FROM VOTING, APPROVING, OR MAKING A RECOMMENDATION REGARDING A TRANSACTION BETWEEN THE ACADEMY AND AN ENTITY IN WHICH THE INDIVIDUAL OR A MEMBER OF HIS OR HER FAMILY HAS AN OWNERSHIP INTEREST. FORM 990, PART VI, SECTION B, LINE 15A DEERFIELD ACADEMY'S BOARD OF TRUSTEES OVERSEES THE COMPENSATION OF THE ACADEMY'S TOP MANAGEMENT OFFICIALS. HEAD OF SCHOOL - THE PERSONNEL & COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS SALARY AND PERQUISITE DATA FROM OTHER INDEPENDENT SCHOOLS FOR THE POSITION OF HEAD OF SCHOOL TO ENSURE SALARIES ARE REASONABLE AND APPROPRIATE TO THE MARKET. MINUTES OF THE PERSONNEL & COMPENSATION COMMITTEE MEETING ARE MAINTAINED DOCUMENTING THE DISCUSSIONS REGARDING THE SALARY SETTING FOR THE HEAD OF SCHOOL. SENIOR STAFF - THE HEAD OF SCHOOL REVIEWS, IN CONJUNCTION WITH THE PRESIDENT OF THE BOARD, SALARY AND PERQUISITE DATA FROM OTHER INDEPENDENT SCHOOLS FOR OTHER TOP MANAGEMENT OFFICIALS, TO ENSURE SALARIES ARE REASONABLE AND APPROPRIATE TO THE MARKET. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST.