2015-12-15T09:39:42-06:00 2015-07-31 BKD LLP 1901 S Meyers Road Suite 500 Oakbrook Terrace IL 601815209 990 2014-08-01 362535895 NEAR NORTH MONTESSORI SCHOOL % LINDA RUDNICK NEAR 7733841434 1434 WEST DIVISION STREET CHICAGO IL 60642 SARAH NORRIS BOARD PRESIDENT 7733841434 2015-12-09 true Scott C Termine P00137961 6302829500 2014 2016-03-07 17:11:31Z AUDREY PERROTT 1434 WEST DIVISION STREET CHICAGO IL 60642 23864623 false X WWW.NNMS.ORG X 1963 IL NEAR NORTH MONTESSORI EDUCATES STUDENTS TO REACH THEIR INHERENT POTENTIAL. A PARTNERSHIP BETWEEN HOME, SCHOOL AND THE COMMUNITY FOSTERS INTELLECTUAL GROWTH, INDEPENDENCE, 18 18 155 750 0 589059 491013 9416023 9968833 163810 1628826 333200 398501 10502092 12487173 629341 664639 0 0 6542360 7089275 0 0 462900 2775118 2991186 9946819 10745100 555273 1742073 27722741 27804247 11678948 11458780 16043793 16345467 NEAR NORTH MONTESSORI EDUCATES STUDENTS TO REACH THEIR INHERENT POTENTIAL. A PARTNERSHIP BETWEEN HOME, SCHOOL, AND THE COMMUNITY FOSTERS INTELLECTUAL GROWTH, INDEPENDENCE, RESPONSIBILITY, A RESPECT FOR DIFFERENCES AND A SENSE OF SELF-WORTH. false false 8593845 664639 9968833 TUITION AND RELATED FEES TO PROVIDE PRE-SCHOOL AND PRIMARY GRAMMAR SCHOOL EDUCATION 8593845 true true false false false false false false false true true false false false false true true false true false false false false false true false false false true true true false false false false false false true false false false true false false false false false false false false true 19 0 true 155 true false false false false false true true false false false false X 18 18 false false false false false false false true true false false true true true true true true true true false IL X LINDA RUDNICK 7733841434 1434 WEST DIVISION STREET CHICAGO IL 60642 X EDDIE GERSHMAN PRESIDENT 2.0 0.0 X X 0 0 SARAH NORRIS VICE PRESIDENT 1.0 0.0 X X 0 0 DAVID MORRISON SECRETARY - END DATE - 5/18/15 1.0 0.0 X X 0 0 LOIS SCOTT TREASURER - END DATE - 5/18/15 1.0 0.0 X X 0 DEBRA BERNARD DIRECTOR 1.0 0.0 X 0 0 RICHARD DRESDEN DIRECTOR-START DATE-5/19/14 1.0 0.0 X 0 0 CHARLES HUNTER DIRECTOR 2.0 0.0 X 0 0 MIRIAM KLEVAN DIRECTOR 1.0 0.0 X 0 0 KERL LEJEUNE DIRECTOR-START DATE-5/19/14 1.0 0.0 X 0 0 MICHAEL LUCAS DIRECTOR 1.0 0.0 X 0 0 DAN MENITOFF DIRECTOR-START DATE-5/19/14 1.0 0.0 X 0 0 RAMESH NAIR DIRECTOR-START DATE-5/19/14 1.0 0.0 X 0 0 GORDON PAN DIRECTOR 1.0 0.0 X 0 0 JULIANNE SAMPSON DIRECTOR-START DATE-5/19/14 1.0 X 0 JILL STOCKARD DIRECTOR 1.0 0.0 X 0 0 SHERMAN WRIGHT DIRECTOR - END DATE - 1/1/15 1.0 0.0 X 0 0 DOUG YERKES DIRECTOR 1.0 0.0 X 0 0 0 ARIEL LITVIN DIRECTOR-START DATE-5/18/15 1.0 0.0 X 0 0 KAMAU COAR DIRECTOR-START DATE-5/18/15 1.0 0.0 X 0 0 KATE SIRKIN DIRECTOR-START DATE-5/18/15 1.0 0.0 X 0 0 SHUBHRA JAIN DIRECTOR-START DATE-5/18/15 1.0 0.0 X 0 0 AUDREY PERROTT EXECUTIVE DIRECTOR 40.0 0.0 X 171336 0 15660 MIEKO YOSHIDA OPERATIONS&FACILITIES DIRECTOR 40.0 0.0 X 118765 17758 LINDA RUDNICK FINANCE DIRECTOR 40.0 0.0 X 131209 6737 DIANE COHEN ADVANCEMENT DIRECTOR 40.0 0.0 X 107960 12672 529270 0 52827 4 false true false 0 491013 25132 491013 TUITION & FEES 9968833 9968833 9968833 377611 377611 0 0 0 0 0 12540427 11289212 1251215 1251215 1251215 486739 88238 398501 398501 0 0 0 12487173 9968833 2027327 0 664639 664639 0 0 0 0 5619159 4180758 1120959 317442 198554 150646 41270 6638 838530 667305 127496 43729 433032 328932 81251 22849 0 0 60143 60143 0 0 0 0 0 815448 645399 133199 36850 0 0 130841 128878 1178 785 0 0 62005 36173 5199 20633 363038 357592 3268 2178 0 745898 734710 6713 4475 65734 64748 592 394 ACTIVITIES 305767 305767 REPAIRS AND MAINTENANCE 139960 137860 1260 840 CONSULTANTS 131734 87391 41520 2823 CLASSROOM SUPPLIES ALLOWANCE 16581 16581 154037 86466 64307 3264 10745100 8593845 1688355 462900 200 200 4784193 2365173 208715 117989 51887 48350 0 0 0 0 22902 10470 0 0 232446 162243 21697116 5224513 17181675 16472603 4928111 8327196 0 0 0 0 312612 300023 0 0 27722741 27804247 603399 692072 0 0 1305549 1366708 9770000 9400000 0 0 0 0 0 0 0 0 0 0 11678948 11458780 X 16034017 16319674 2636 17453 7140 8340 16043793 16345467 27722741 27804247 1742073 -1440399 X X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4278422 1700 156542 19694 4416970 3764191 1980 512251 4278422 2988484 2300 773407 3764191 2987204 2250 -970 2988484 2582508 2825 401871 2987204 0.99810 0.00190 false false 325000 325000 1003807 827067 176740 19748701 3905385 15843316 571111 456280 114831 48497 35781 12716 16472603 0 0 X 10382135 -1440399 -664639 -2105038 12487173 12487173 10080461 -664639 -664639 10745100 10745100 SCHEDULE D, PART V, LINE 4 THE PURPOSE OF THE BOARD DESIGNATED ENDOWMENT FUND IS TO PROVIDE NNM WITH FINANCIAL FLEXIBILITY THAT COMES FROM HAVING A SECURE CAPITAL BASE. THE LONG-TERM GOAL OF THE FUND IS FOR IT TO GROW TO AN AMOUNT CONSIDERED SUFFICIENT BY THE BOARD WHEREBY REGULAR WITHDRAWALS CAN BE MADE FROM THE INVESTED CAPITAL AND USED FOR ONGOING OPERATIONS, REDUCING PRESSURE ON TUITION, OR FOR OTHER SPECIFIED PURPOSES AS DETERMINED BY THE BOARD. SCHEDULE D, PART XI, LINE 2D GRANTS FOR STUDENTS WITH FINANCIAL NEED. SCHEDULE D, PART XII, LINE 2D GRANTS FOR STUDENTS WITH FINANCIAL NEED. SCHEDULE D, PART X, LINE 2 THE SCHOOL IS INCORPORATED UNDER THE LAWS OF THE STATE OF ILLINOIS AS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE SCHOOL HAS ALSO BEEN CLASSIFIED AS AN ENTITY THAT IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) AND QUALIFIES FOR DEDUCTIBLE CONTRIBUTIONS AS PROVIDED IN SECTION 170(B)(1)(A)(VI). THE SCHOOL RECOGNIZES THE FINANCIAL STATEMENT IMPACT OF A TAX POSITION WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION. THE SCHOOL IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR THE YEARS BEFORE THE TAX YEAR ENDING JULY 31, 2012. true true true true true true true false false false false false false false false false false true SCHEDULE E, PART I, LINE 3 NNM PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY THROUGH NEWSPAPER MEDIA DURING THE PERIOD OF SOLICITATION FOR STUDENTS, AND ALSO VIA THE WEBSITE, BROCHURES AND OTHER SCHOOL LITERATURE. THE BIG NIGHT 448793 448793 5650 34224 43580 HALLOWEEN PARTY 21165 21165 594 2319 2 16781 16781 0 0 1871 486739 486739 5650 34818 47770 88238 398501 true SCHOLARSHIPS 72 664639 SCHEDULE I, PART I, LINE 2 APPLICANTS ARE REQUIRED TO SUBMIT AN APPLICATION AND PROVIDE THEIR TAX RETURNS. ALL APPLICATIONS ARE REVIEWED TO DETERMINE NEED AND ALL INFORMATION, INCLUDING NOTES, ARE RETAINED ON AN ELECTRONIC FILING SYSTEM. X X X X X false false false false false false false false false AUDREY PERROTT EXECUTIVE DIRECTOR 171336 0 0 0 0 0 8652 0 7008 0 186996 0 A ILLINOIS FINANCE AUTHORITY 861091967 000000000 2009-05-27 12000000 SCHOOL RENOVATION AND CONSTRUCTION false false false A 0 0 0 12000000 0 0 0 0 0 12000000 0 0 2012 false false true true A false false false false 0.00000 0.00000 0.00000 false false 0.00000 false true A false false true false false false 0 false 0 false true A true SCHEDULE K, PART 1, COLUMN F RENOVATION OF A 4-STORY SCHOOL BUILDING LOCATED AT 1434 WEST DIVISION, INCLUDING REPLACEMENT OF HEATING SYSTEM, VENTILATION, ELECTRICAL AND SPRINKLER SYSTEM IMPROVEMENTS AND ADDITIONAL CLASSROOM, BATHROOM AND RELATED FACILITIES, AND CONSTRUCTION OF A NEW GYMNASIUM IMMEDIATELY ADJACENT TO THE SCHOOL BUILDING. ON MAY 27, 2009, THE ILLINOIS FINANCE AUTHORITY ISSUED $12,000,000 OF EDUCATIONAL FACILITY REVENUE BOND SERIES 2009 TO MB FINANCIAL BANK IN ORDER TO LOAN THE PROCEEDS OF THE BOND TO NEAR NORTH MONTESSORI SCHOOL FOR THE PURPOSE OF FINANCING OR REIMBURSING CERTAIN COSTS OF THE FACILITIES. ON DECEMBER 21, 2011, $10,000,000 OF THE ORIGINAL BOND ISSUE WAS REISSUED AS A NEW EDUCATIONAL FACILITY REVENUE BOND, AMENDED SERIES 2009 (AMENDED BOND). ADDITIONALLY, ON JANUARY 13, 2012, $1,000,000 OF THE ORIGINAL BOND ISSUE WAS REISSUED AS A NEW EDUCATIONAL FACILITY REVENUE BOND, 2012 AMENDED SERIES 2009. ON JANUARY 28, 2014, THE SCHOOL PAID OFF THE EDUCATIONAL FACILITY REVENUE BOND, 2012 AMENDED SERIES 2009 WITH A FINAL PAYMENT OF $996,626. TOTAL PAYMENTS ON THE BONDS AT JULY 31, 2015 WERE $1,600,000. AT JULY 31, 2015 AND 2014, $9,400,000 AND $9,770,000, RESPECTIVELY, IS OUTSTANDING ON THE BOND PAYABLE. 0 NEED BASED SCHOLARSHIP DIRECTOR 15000 TUITION ASSISTANCE FINANCIAL HARDSHIP X 5 25132 FMV false true false FORM 990, PART 1, LINE 1 RESPONSIBILITY, A RESPECT FOR DIFFERENCES AND A SENSE OF SELF-WORTH. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE DIRECTOR RECEIVES THE COMPLETED FORM 990 FROM THE ACCOUNTING FIRM. THE FINANCE DIRECTOR REVIEWS THE FORM FOR ACCURACY AND SUBMITS THE COMPLETED FORM TO THE CHAIR OF THE AUDIT COMMITTEE, WHO REVIEWS THE FORM FOR ACCURACY. AFTER THE CHAIR OF THE AUDIT COMMITTEE AND THE FINANCE DIRECTOR HAVE COMPLETED THEIR REVIEW, THE FORM 990 IS MADE AVAILABLE BY EMAIL TO THE ENTIRE BOARD OF DIRECTORS FOR THEIR REVIEW AND COMMENT. THE AUDIT AND THE FORM 990 ARE PRESENTED BY THE OUTSIDE AUDITOR AND AUDIT COMMITTEE CHAIR TO THE FULL BOARD (OR TO THE EXECUTIVE COMMITTEE WITH BOARD APPROVAL). UPON BOARD OR EXECUTIVE COMMITTEE APPROVAL OF THE AUDIT REPORT AND FORM 990, THE BOARD PRESIDENT SIGNS BOTH THE FEDERAL AND STATE RETURNS TO BE FILED IN A TIMELY MANNER. FORM 990, PART VI, SECTION B, LINE 12C IN SEPTEMBER OF EACH YEAR, THE FINANCE DIRECTOR DISTRIBUTES THE CONFLICT OF INTEREST POLICY AND THE ANNUAL AFFIRMATION FORM TO ALL INTERESTED PERSONS. (I.E. VOTING MEMBERS OF THE BOARD, VOTING MEMBERS OF ANY COMMITTEES OF THE BOARD; THE SCHOOL'S EXECUTIVE DIRECTOR, FINANCE DIRECTOR, OPERATIONS AND FACILITIES DIRECTOR, DEVELOPMENT DIRECTOR, LOWER SCHOOL DIRECTOR, ELEMENTARY SCHOOL DIRECTOR AND UPPER SCHOOL DIRECTOR). THE ANNUAL AFFIRMATION FORM IS SIGNED BY ALL INTERESTED PERSONS, AFFIRMING THAT THE INDIVIDUAL RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; THAT THEY HAVE READ THE POLICY; THAT THEY AGREE TO COMPLY WITH THE POLICY AND THAT THEY UNDERSTAND THAT THE SCHOOL IS A CHARITABLE ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION, IT MUST ENGAGE IN ACTIVITIES WHICH PRIMARILY ACCOMPLISH ONE OR MORE OF ITS TAX EXEMPT PURPOSES. THE SIGNED FORM IS GIVEN TO THE FINANCE DIRECTOR, WHO CHECKS TO MAKE SURE THE FORMS ARE ALL AFFIRMATIVE, AND THEN MAINTAINS THE FORMS ON FILE. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE SCHOOL'S BOARD OF DIRECTORS WHICH INCLUDES THE PRESIDENT OF THE BOARD (WITH ASSISTANCE FROM THE HUMAN RESOURCES DIRECTOR AND THE FINANCE DIRECTOR, WHEN APPLICABLE), LEADS THE PROCESS TO MARKET PRICE THE JOB OF THE EXECUTIVE DIRECTOR. THIS PROCESS IS FOLLOWED WHEN AN EXECUTIVE DIRECTOR IS HIRED AS WELL AS EACH TIME AN EXECUTIVE DIRECTOR'S CONTRACT IS RENEWED. (THE EXECUTIVE DIRECTOR'S 3-YEAR CONTRACT WAS RENEWED 8/1/2015.) THIS PROCESS CONSISTS OF 1) GATHERING COMPENSATION DATA FROM COMPARABLE DATA SOURCES, ENSURING THAT APPLICABLE JOB PERFORMANCE IS TAKEN INTO ACCOUNT; 2) DETERMINING A WAGE CONSISTENT WITH THOSE FINDINGS WHILE ENSURING THAT THE RESULTING COMPENSATION FALLS WITHIN THE BOARD APPROVED BUDGET FOR STAFF EXPENSES; 3) PRESENTING A RECOMMENDATION TO THE BOARD OF DIRECTORS AS TO THE COMPENSATION OF THE EXECUTIVE DIRECTOR FOR APPROVAL BY THE BOARD; AND 4) DOCUMENTING THE DECISION OF THE BOARD IN THE BOARD MINUTES. DISCUSSION OF COMPENSATION IS HELD IN A CLOSED SESSION OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15B THE EXECUTIVE DIRECTOR, HUMAN RESOURCES DIRECTOR AND THE FINANCE DIRECTOR LEAD THE PROCESS TO MARKET PRICE THE JOBS OF OTHER DIRECTORS OR KEY EMPLOYEES. THE COMPENSATION COMMITTEE MAY ASSIST OR REVIEW GENERAL COMPENSATION RANGES FOR THESE ROLES. THIS PROCESS IS FOLLOWED WHEN A DIRECTOR/KEY EMPLOYEE IS HIRED AS WELL AS EACH TIME A DIRECTOR/KEY EMPLOYEE'S SALARY IS ADJUSTED. THIS PROCESS CONSISTS OF GATHERING COMPENSATION DATA FROM COMPARABLE DATA SOURCES, ENSURING THAT APPLICABLE JOB PERFORMANCE IS TAKEN INTO ACCOUNT, AND ULTIMATELY DETERMINING A WAGE CONSISTENT WITH THOSE FINDINGS WHILE ENSURING THAT THE RESULTING COMPENSATION FALLS WITHIN THE BOARD APPROVED BUDGET FOR STAFF EXPENSES. A WAGE REVIEW IS DONE ANNUALLY AS THE BUDGET IS BEING DETERMINED AND AGAIN PRIOR TO AUGUST 1 OF EACH YEAR, WHEN NEW WAGES TAKE EFFECT. FORM 990, PART VI, SECTION C, LINE 19 THE FORM 990 AND THE FORM 1023 ARE AVAILABLE TO THE PUBLIC UPON REQUEST. PDF VERSIONS ARE AVAILABLE AT NO CHARGE AND WILL BE PROVIDED WITHIN 3 BUSINESS DAYS OF THE REQUEST (OR AS SOON AS ADMINISTRATIVELY POSSIBLE). PRINTED COPIES WILL BE PROVIDED WITHIN 5 BUSINESS DAYS OF THE REQUEST (OR AS SOON AS ADMINISTRATIVELY POSSIBLE). THE SCHOOL RESERVES THE RIGHT TO CHARGE A REASONABLE COPYING FEE PLUS POSTAGE FOR REQUESTS FOR PRINTED COPIES. CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO CONSTITUENTS IN SEPTEMBER OF EACH YEAR, AND IS AVAILABLE TO ANY INTERESTED PARTY BY REQUEST. AUDITED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JULY 31 ARE PRESENTED AT THE NOVEMBER OR DECEMBER BOARD MEETING OR THE EXECUTIVE COMMITTEE MEETING HELD IN LIEU OF A BOARD MEETING. BOARD MEETINGS ARE OPEN TO CONSTITUENTS, EXCEPT WHEN NOTED AS A CLOSED SESSION. A COPY OF THE MINUTES TO BOARD MEETINGS ARE AVAILABLE AS ABOVE.