2016-02-02T09:27:06-06:00 2015-06-30 221478099 COHNREZNICK LLP 350 CHURCH STREET 12TH FLOOR HARTFORD CT 06103 990 2014-07-01 060646964 WILLIAMS MEMORIAL INSTITUTE WILL 8604435333 182 MOHEGAN AVENUE NEW LONDON CT 06320 KATHLEEN TRAMMELL ASST HEAD OF SCHOOL FIN/OPS 8604435333 2016-02-01 1 JOHN TOSCANO P00358542 9592007000 2014 2016-04-25 22:37:26Z THE WILLIAMS SCHOOL MARK FADER 182 MOHEGAN AVENUE NEW LONDON CT 06320 7997224 0 X WWW.WILLIAMSSCHOOL.ORG X 1891 CT THE SCHOOL PROVIDES EDUCATIONAL SERVICES TO STUDENTS AT THE SECONDARY SCHOOL LEVEL. 25 24 104 0 0 0 472141 503891 6749546 7154351 264144 215244 34656 27575 7520487 7901061 1218148 1207107 0 0 3847770 4402404 0 0 317256 2026017 1952607 7091935 7562118 428552 338943 17163103 17376900 5806465 5722224 11356638 11654676 TO FOSTER THE INTELLECTUAL, MORAL, AESTHETIC, AND PHYSICAL DEVELOPMENT OF YOUNG MEN AND WOMEN IN PREPARATION FOR COLLEGE, A LIFETIME OF LEARNING, AND ACTIVE PARTICIPATION IN A CHANGING SOCIETY. 0 0 6152287 1207107 7154351 WILLIAMS MEMORIAL INSTITUTE'S PRIMARY PROGRAM SERVICE IS EDUCATION FOR APPROXIMATELY 248 STUDENTS FROM GRADES SIX THROUGH TWELVE. 6152287 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 24 0 1 104 1 0 0 0 0 0 0 0 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X KATHLEEN TRAMMELL ASS'T HEAD OF SCHOOL FOR FINANCE AND OPERATIONS 8604435333 182 MOHEGAN AVENUE NEW LONDON CT 06320 MARK FADER HEAD OF SCHOOL 40.00 X X 194895 0 41987 BRUCE GOLDSTEIN PRESIDENT 10.00 X X 0 0 0 RONALD MENEO VICE PRESIDENT 5.00 X X 0 0 0 JEFFREY BROWN SECRETARY 5.00 X X 0 0 0 CARL REISER TREASURER 5.00 X X 0 0 0 JOHN BRODZINSKI BOARD MEMBER 3.00 X 0 0 0 STEVEN DAREN BOARD MEMBER 3.00 X 0 0 0 PATRICK DOHERTY BOARD MEMBER 3.00 X 0 0 0 TIMOTHY FITZPATRICK BOARD MEMBER 3.00 X 0 0 0 SCOTT GIBSON BOARD MEMBER 3.00 X 0 0 0 DAVID PARK HERSANT BOARD MEMBER 3.00 X 0 0 0 ANDREW JARRETT BOARD MEMBER 3.00 X 0 0 0 MARY ELLEN JUKOSKI BOARD MEMBER 3.00 X 0 0 0 ANDREW KRESSLEY BOARD MEMBER 3.00 X 0 0 0 JOHN KRONHOLM BOARD MEMBER 3.00 X 0 0 0 JOSEPH MADAUS BOARD MEMBER 3.00 X 0 0 0 PAUL MARONI BOARD MEMBER 3.00 X 0 0 0 NATALIE MORRIS BOARD MEMBER 3.00 X 0 0 0 JOHN PAGNOZZI BOARD MEMBER 3.00 X 0 0 0 STEVEN POWELL BOARD MEMBER 3.00 X 0 0 0 ELIZABETH SANDRI BOARD MEMBER 3.00 X 0 0 0 E TERRY PARKINSOIN BOARD MEMBER 3.00 X 0 0 0 KITTY STALSBURG BOARD MEMBER 3.00 X 0 0 0 WILLIAM VERHOEFF BOARD MEMBER 3.00 X 0 0 0 JOSHUA WELCH BOARD MEMBER 3.00 X 0 0 0 KATHLEEN TRAMMELL ASS'T HEAD OF SCHOOL FOR F 40.00 X 116426 0 11917 311321 0 53904 2 0 1 0 M & J BUS COMPANY PO BOX 801 OLD SAYBROOK CT 06475 TRANSPORTATION 155989 1 503891 35193 503891 TUITION AND FEES 611710 6813049 6813049 AUXILIARY SERVICES 611710 341302 341302 7154351 154224 154224 27575 0 27575 27575 27575 157183 96163 61020 61020 61020 7901061 7154351 0 242819 1207107 1207107 392357 359996 32361 3006731 2630224 261454 115053 218787 177092 29805 11890 554904 417034 103899 33971 229625 180847 38988 9790 19817 19817 19725 19725 19184 19184 107775 101583 6192 79349 45299 20637 13413 49653 14848 34805 105037 94533 8403 2101 18208 8447 7359 2402 149646 134681 11972 2993 617973 556176 49438 12359 47081 42373 3766 942 OTHER INSTRUCTIONAL 171311 169863 965 483 TRANSPORTATION EXPENSE 146882 146882 CAFETERIA EXPENSE 122936 115560 6147 1229 EQUIPMENT RENTAL AND MA 102071 98185 3108 778 175959 93952 10708 71299 7562118 6152287 1092575 317256 203733 228849 1805469 2149024 683 150 2778 12729 32707 15703404 7480591 8479389 8222813 6509699 6598621 148623 144736 17163103 17376900 445520 605925 1051901 959396 4057650 3882077 50000 50000 201394 224826 5806465 5722224 X 9423390 9701399 662708 571488 1270540 1381789 11356638 11654676 17163103 17376900 X 338943 -18707 -22198 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4366288 133148 114596 135000 4479032 3729222 101165 670901 135000 4366288 3412935 19340 431947 135000 3729222 3675123 31494 -2459 291223 3412935 2518949 766750 524424 135000 3675123 0.56700 0.30900 0.12400 0 0 1339666 1339666 11194409 5490218 5704191 1211081 1008797 202284 1958248 981576 976672 8222813 DEFERRED COMPENSATION 62365 INTEREST RATE SWAP OBLIGATION 162461 224826 X 6633865 -18707 -22198 -40905 6674770 19184 1207107 1226291 7901061 6335827 0 6335827 19184 1207107 1226291 7562118 PART V, LINE 4: THE ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS, SALARIES AND OTHER OPERATING EXPENSES. PART X, LINE 2: THE SCHOOL'S FEDERAL INFORMATION RETURNS PRIOR TO FISCAL YEAR 2012 ARE CLOSED AND MANAGEMENT CONTINUALLY EVAULUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. IF THE SCHOOL HAD UNRELATED BUSINESS INCOME TAXES, IT WOULD RECOGNIZE INTEREST AND PENALTIES ASSOCIATED WITH ANY TAX MATTERS AS PART OF THE INCOME TAX PROVISION AND INCLUDE ACCRUED INTEREST AND PENALTIES WITH THE RELATED TAX LIABILITY IN THE STATEMENT OF FINANCIAL POSITION. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS ON SWAP AGREEMENT -22,198. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 1,207,107. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 1,207,107. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 INCLUDED IN ALL ADMISSIONS ADVERTISING, PUBLISHING IN LOCAL NEWSPAPERS 1 FINANCIAL AID 107 1207107 FAIR VALUE TUITION DISCOUNT BASED ON NEED. PART I, LINE 2: WILLIAMS USES SCHOOL AND STUDENT SERVICES (SSS) TO PROCESS FINANCIAL AID APPLICATIONS. SSS IS A SERVICE OF THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS). BASED ON THE FINANCIAL INFORMATION PROVIDED, SSS PROVIDES THE SCHOOL WITH AN ESTIMATED AMOUNT EACH FAMILY CAN CONTRIBUTE TO EDUCATIONAL EXPENSES. THE BOARD OF TRUSTEES APPROVES THE TOTAL AMOUNT OF FINANCIAL AID TO BE AWARDED AND THE FINANCIAL AID COMMITTEE DISTRIBUTES THE AWARDS TO THE FAMILIES. X X X X 0 0 0 0 0 0 0 0 0 MARK FADER HEAD OF SCHOOL 172895 0 0 0 22000 0 17676 0 24311 0 236882 0 0 0 A STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 060806186 2013-08-13 4195000 REFUNDING OF SERIES A BONDS 0 0 0 A 312923 4195000 83900 4110162 938 1 0 1 1 A 0 0 0 0 1 1 RBS CITIZENS NA 10.000000000000 0 0 0 0 1 A 1 X VARIOUS BUILDING SUPPLIES 1 35193 COST 0 1 1 PART I, COLUMN (B): THE CONTRIBUTION IS CREDITED TO THE DONOR AS ONE CONTRIBUTION, CONSISTING OF VARIOUS ITEMS USED FOR A BUILDING PROJECT. PART I, LINE 32B: THE SCHOOL MAINTAINS AN ACCOUNT WITH A FINANCIAL INSTITUTION FOR THE PURPOSE OF LIQUIDATING DONATED SECURITIES. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVEIWED FOR ACCURACY AND COMPLETENESS BY THE HEAD OF SCHOOL, ASSISTANT HEAD OF SCHOOL FOR FINANCE AND OPERATIONS AND BOTH THE FINANCE AND AUDIT COMMITTEES, SUB-COMMITTEES OF THE BOARD OF TRUSTEES. THE FINANCE COMMITTEE THROUGH REGULAR MEETINGS THOUGHOUT THE YEAR, IS INVOLVED IN BOTH THE FINANCIAL REPORTING AND INVESTMENTS OF THE SCHOOL AND MONITORS THE SCHOOL'S OPERATIONS. THE AUDIT COMMITTEE MEETS TWICE PER YEAR AT SCHEDULED TIMES, AND ADDITIONALLY AS APPROPRIATE. THE DRAFT FORM WITHOUT IS PROVIDED TO ALL TRUSTEES FOR QUESTIONS AND COMMENTS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL CERTIFICATES OF ACKNOWLEDGEMENT ARE REQUIRED FROM OFFICERS, TRUSTEES, AND KEY EMPLOYEES TO IDENTIFY POTENTIAL CONFLICT OF INTERESTS. IN ADDITION, THE BUSINESS OFFICE MONITORS THE USAGE OF VENDORS AND CONTRACTORS TO ENSURE INDEPENDENCE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE HEAD OF SCHOOL IS DETERMINED BY REVIEW OF PEER SCHOOL'S SALARY BANDS AS WELL AS THROUGH CONSULTATION WITH THE CONNECTICUT ASSOCIATION OF INDEPENDENT SCHOOLS. COMPENSATION FOR THE DIRECTOR OF FINANCE AND OPERATIONS IS DETERMINED BY THE HEAD OF SCHOOL THROUGH BENCHMARKING OF STATISTICS COMPILED BY THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS). FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED LOSS ON SWAP AGREEMENT -22,198. FORM 990, PART XI, LINE 2C: THERE HAVE BEEN NO CHANGES MADE TO THE ORGANIZATION'S OVERSIGHT OR SELECTION PROCESSES DURING THE TAX YEAR.