2015-12-18T14:36:44-06:00 2015-06-30 221478099 COHNREZNICK LLP 350 CHURCH STREET 12TH FLOOR HARTFORD CT 06103 990 2014-07-01 060646674 HOPKINS SCHOOL INCORPORATED HOPK 2033971001 986 FOREST ROAD NEW HAVEN CT 06515 DAVID E BAXTER CFO 2033971001 2015-12-17 1 JOHN TOSCANO P00358542 9592007000 2014 2016-03-07 17:11:31Z HOPKINS SCHOOL BARBARA M RILEY 986 FOREST ROAD NEW HAVEN CT 06515 61219738 0 X WWW.HOPKINS.EDU X 1660 CT A PRIVATE CO-EDUCATIONAL INSTITUTION FORMED TO EDUCATE STUDENTS FROM GRADES 7 THROUGH 12. 19 18 340 0 39880 -48133 4011255 5566991 25946165 27334015 7533025 5600087 213661 183840 37704106 38684933 3174727 3291122 0 0 17984766 19326901 0 0 1328436 10044087 10113982 31203580 32732005 6500526 5952928 169325938 176720102 27561828 28798820 141764110 147921282 TO CONDUCT AND MANAGE A SCHOOL FOR YOUNG PEOPLE AND TO CARRY ON ANY AND ALL ACTIVITIES PERMITTED TO A NONSTOCK CORPORATION UNDER THE LAWS OF THE STATE OF CONNECTICUT AS MAY BE HELPFUL OR APPROPRIATE FOR THE ACHIEVEMENT OF THE FOREGOING GOALS AND PURPOSES. 0 0 25878491 3291122 27440173 ACADEMIC INSTRUCTION, ATHLETIC & STUDENT ACTIVITIES, FOOD SERVICE & OTHER SUPPORT FOR 711 STUDENTS. 25878491 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 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 0 0 0 0 1 120 0 1 340 1 1 1 0 0 0 0 1 1 0 0 0 0 X 19 18 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 CT X DOROTA HABIB 2033971001 986 FOREST ROAD NEW HAVEN CT 06515 VINCENT A CALARCO PRESIDENT 5.00 X X 0 0 0 MARK H LYNCH VICE PRESIDENT 1.00 X X 0 0 0 BARBARA M ROSIELLO SECRETARY 1.00 X X 0 0 0 ALEXANDER C BANKER TREASURER 1.00 X X 0 0 0 DAVID R BAILIN TRUSTEE 1.00 X 0 0 0 RICHARD A FERGUSON TRUSTEE 1.00 X 0 0 0 JOHN GEANAKOPLOS TRUSTEE 1.00 X 0 0 0 ERIC A KUTCHER TRUSTEE 1.00 X 0 0 0 DAVID LEFFELL TRUSTEE 1.00 X 0 0 0 G KELLY MARTIN TRUSTEE 1.00 X 0 0 0 PAMELA C PAULMANN TRUSTEE 1.00 X 0 0 0 STACEY JACKSON PERKINS TRUSTEE 1.00 X 0 0 0 LYNN J QUINN TRUSTEE 1.00 X 0 0 0 BARBARA M RILEY HEAD OF SCHOOL 50.00 X X 448451 0 300458 JUDITH A SMITH TRUSTEE 1.00 X 0 0 0 GREGORY R TANNER TRUSTEE 1.00 X 0 0 0 MICHAEL A THOMAS TRUSTEE 1.00 X 0 0 0 MICHAEL W VRANOS TRUSTEE 1.00 X 0 0 0 LAWRENCE G WALKER TRUSTEE 1.00 X 0 0 0 PAUL GERWITZ OUTGOING TRUSTEE 1.00 X 0 0 0 FAZAD A RASTEGAR OUTGOING TRUSTEE 1.00 X 0 0 0 DAVID E BAXTER CHIEF FIN & OPER OFFICER 40.00 X 233354 0 44876 THOMAS A PARR DIRECTOR OF ATHLETICS 40.00 X 114221 0 37755 R JOHN ROBERTS ASSISTANT HEAD OF SCHOOL 40.00 X 133206 0 34549 JEDD WHITLOCK DIRECTOR OF DEVELOPMENT 40.00 X 155831 0 36894 PAMELA R MCKENNA DIRECTOR OF ADMISSIONS 40.00 X 122402 0 20064 KEVIN HART SCHOOL SCHEDULER 40.00 X 115664 0 22232 1323129 0 496828 16 0 1 0 FLIK INDEPENDENT SCHOOL DINING CHARTWELLS BOSTON MA 022417632 FOOD SERVICE 833561 MARKLE INVESTIGATIONS INC PO BOX 502 NORTH HAVEN CT 06473 SECURITY SERVICE 424107 ABM JANITORIAL SERVICES NORTHEAST INC PO BOX 1534 NEW YORK NY 10008 CLEANING SERVICE 226688 JAMES ALBERT LANDSCAPE DESIGN & MAINT LL 30 TENNYSON AVENUE NORTH HAVEN CT 06473 LANDSCAPING SERVICE 187708 ARTEFFECTS INC 27 BRITTON DRIVE BLOOMFIELD CT 06002 SIGNAGE CONTRACTOR 146110 8 328149 5238842 268480 5566991 TUITION & FEES 611600 27131459 27131459 OTHER FEES 611600 150230 150230 APPLICATION 611600 27627 27627 LATE PAYMENT FEES 611600 19239 19239 PUBLICATIONS 611600 5460 5460 27334015 1177366 39880 1137486 73209 0 73209 73209 73209 26523569 22100848 4422721 4422721 4422721 50217 328149 45744 4473 4473 408351 388213 20138 20138 CHALLENGE COURSE 611600 86020 86020 86020 38684933 27440173 39880 5637889 3291122 3291122 1051303 1051303 12700914 10961078 1073507 666329 1220021 1050248 107795 61978 3369307 3037143 205136 127028 985356 832007 105164 48185 131581 131581 49900 49900 755812 755812 2584619 1746917 803012 34690 4220 4220 367952 127389 140742 99821 189601 161320 1709 26572 668040 601236 60124 6680 48950 15168 6063 27719 357871 166100 79251 112520 636786 477590 159196 2423859 2181473 218147 24239 125823 125823 SUPPLIES 303577 272602 27453 3522 RENTALS 259188 225623 13471 20094 RECRUITING 245242 2040 242210 992 MISCELLANEOUS 225919 81378 83693 60848 735042 648057 79766 7219 32732005 25878491 5525078 1328436 692 692 8327234 11086404 5362266 5439740 5700 1685 50072 23767 74916852 25732350 50592477 49184502 36372909 37532566 65621806 70677255 2992782 2773491 169325938 176720102 2886699 4047525 8390820 8880271 15124505 14576634 1159804 1294390 27561828 28798820 X 71081791 72551449 24831489 26296091 45850830 49073742 141764110 147921282 169325938 176720102 X 5952928 600238 -395994 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 86064778 3767496 4621569 1433684 1875748 91144411 74778553 4246899 10018084 1215439 1763319 86064778 66661710 2300807 8633691 1140732 1676923 74778553 65318384 2177796 1697770 1003684 1528556 66661710 53915808 3897117 9900395 936523 1458413 65318384 0.25400 0.49600 0.25000 0 0 2332847 2332847 64135903 20230253 43905650 8079266 5502097 2577169 368836 368836 49184502 U.S. LARGE CAP EQUITY FUNDS 11224374 F GLOBAL EX U.S. EQUITY FUNDS 9535142 F ALTERNATIVE ABSOLUTE RETURN 39322636 F ALTERNATIVE REAL ESTATE 5798280 F ALTERNATIVE GLOBAL PRIVATE EQUITY 2412268 F ALTERNATIVE TIMBER, OIL AND GAS 2384555 F 70677255 ANNUITIES PAYABLE 819131 INTEREST PAYABLE 300897 CAPITAL LEASE OBLIGATIONS 174362 1294390 X 35672194 600238 433957 1034195 34637999 755812 3291122 4046934 38684933 29119028 433957 433957 28685071 755812 3291122 4046934 32732005 PART V, LINE 4: ENDOWMENT FUNDS WILL BE DISBURSED IN ACCORDANCE WITH THE SCHOOL'S EXISTING SPENDING POLICY FOR THE SPECIFIED PURPOSES OF THE VARIOUS FUNDS. PART X, LINE 2: THE SCHOOL HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2015 AND 2014. THE SCHOOL'S FEDERAL INFORMATION RETURNS PRIOR TO FISCAL YEAR 2012 ARE CLOSED AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. IF THE SCHOOL HAS 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: COST OF SALES - BOOKSTORE 388,213. FUNDRAISING EXPENSES 45,744. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 3,291,122. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES - BOOKSTORE 388,213. FUNDRAISING EXPENSES 45,744. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 3,291,122. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 NONDISCRIMINATION POLICY PUBLISHED IN THE LOCAL NEWSPAPER ANNUALLY. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT HOLDING INCLUDED IN THE SCHOOL'S ENDOWMENT PORTFOLIO 12056328 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENT HOLDING INCLUDED IN THE SCHOOL'S ENDOWMENT PORTFOLIO 9535142 0 0 0 0 0 0 21591470 0 21591470 0 0 0 0 0 0 AUCTION 318790 300260 18530 10855 23331 GOLF OUTING 59576 27889 31687 5353 6205 378366 328149 50217 16208 29536 45744 4473 1 STUDENT SCHOLARSHIPS / FINANCIAL AID 142 3291122 FAIR VALUE TUITION DISCOUNT PART I, LINE 2: HOPKINS SCHOOL FINANCIAL AID PROGRAM IS NEED-BASED. FAMILIES INTERESTED IN RECEIVING FINANCIAL AID COMPLETE AN APPLICATION FORM AND SUBMIT IT TO THE SCHOOL. IN ADDITION TO THE APPLICATION, FAMILIES ARE REQUIRED TO PROVIDE ADDITIONAL FINANCIAL DOCUMENTS, INCLUDING BUT NOT LIMITED TO, COMPLETE COPIES OF INDIVIDUAL INCOME TAX RETURNS AND FORM W-2. A FINANCIAL AID COMMITTEE REVIEWS THE INFORMATION AND DETERMINES THE LEVEL OF FINANCIAL AID AWARD, IF ANY. ANY FINANCIAL AID AWARD IS FOR ONE YEAR AT A TIME. ALL RECIPIENTS MUST COMPLETE THE FULL APPLICATION PROCESS EACH YEAR. IN GENERAL, FINANCIAL AID APPLICATIONS ARE DUE IN JANUARY AND FINANCIAL AID AWARDS ARE MADE IN MARCH. FINANCIAL AID IS NOT A CASH GRANT AWARD. ACTUAL FINANCIAL AID AWARDS ARE REFLECTED AS CREDITS TOWARDS TUITION. X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 BARBARA M RILEY HEAD OF SCHOOL 384551 0 0 0 63900 0 292334 0 8124 0 748909 0 0 0 DAVID E BAXTER CHIEF FIN & OPER OFFICER 233354 0 0 0 0 0 25669 0 19207 0 278230 0 0 0 THOMAS A PARR DIRECTOR OF ATHLETICS 114221 0 0 0 0 0 14204 0 23551 0 151976 0 0 0 R JOHN ROBERTS ASSISTANT HEAD OF SCHOOL 133206 0 0 0 0 0 16345 0 18204 0 167755 0 0 0 JEDD WHITLOCK DIRECTOR OF DEVELOPMENT 155831 0 0 0 0 0 15483 0 21411 0 192725 0 0 0 PART I, LINE 1A BARBARA RILEY, HEAD OF SCHOOL, AS A CONDITION OF EMPLOYMENT IN ORDER TO PROPERLY DISCHARGE HER RESPONSIBILITIES, AND FOR THE CONVENIENCE OF THE SCHOOL, IS REQUIRED TO MAINTAIN HER RESIDENCE IN A LOCAL HOME OWNED BY THE SCHOOL. PERSONAL USE IS CALCULATED AND INCLUDED IN HER W-2 ANNUALLY. IN ADDITION, MS. RILEY RECEIVES AN ANNUAL ALLOWANCE FOR SOCIAL CLUB DUES SO SHE HAS ACCESS TO ARRANGE SOCIAL FUNCTIONS AND EVENTS OF BENEFIT TO THE SCHOOL. PART I, LINE 4B MS. RILEY PARTICIPATED IN A DEFERRED COMPENSATION PLAN, SUBJECT TO SUBSTANTIAL RISK OF FORFEITURE, TO WHICH CERTAIN AMOUNTS WERE CREDITED BY THE SCHOOL. THIS AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN C. A ST OF CT HEALTH & EDUCATIONAL FACILITIES AUTHORITY 060806186 20774UA70 2008-06-26 9117934 HOPKINS SCHOOL SERIES B - CONSTRUCT CAMPUS FACILITIES 0 0 0 B ST OF CT HEALTH & EDUCATIONAL FACILITIES AUTHORITY 060806186 20774UT88 2009-12-10 7873388 HOPKINS SCHOOL SERIES C - REFINANCE SERIES A BONDS 0 0 0 A 787934 9117934 992853 182358 7942723 2009 0 0 1 1 B 1493388 7873388 596428 7119492 157468 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 A 1 B 1 X 36 204574 FMV AT DATE OF DONATION X IN-KIND AUCTION ITEMS SOLD 203 63906 FAIR VALUE 0 1 1 PART I, LINE 32B: THE SCHOOL LIQUIDATES ALL GIFTS OF SECURITIES THROUGH AN ACCOUNT HELD WITH A THIRD-PARTY FINANCIAL INSTITUTION. THE SCHOOL'S POLICY IS TO LIQUIDATE OTHER TYPES OF NON-CASH CONTRIBUTIONS BY ENGAGING THE APPROPRIATE THIRD-PARTY PROFESSIONALS TO EXECUTE THE LIQUIDATIONS. FORM 990, PART VI, SECTION A, LINE 2 TWO MEMBERS OF THE COMMITTEE OF TRUSTEES HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 4 SUMMARY OF REVISIONS TO BYLAWS 1. THE SIZE OF THE BOARD IS SET AT NO FEWER THAN 9 AND NO MORE THAN 25, INCLUDING THE HEAD OF SCHOOL. THE CURRENT BYLAWS SET NO MINIMUM NUMBER AND ESTABLISH 25 AS A MAXIMUM NUMBER, PLUS THE HEAD AND THE PARENT COUNCIL AND ALUMNI/AE ASSOCIATION REPRESENTATIVES. 2. THE TERM FOR TRUSTEES IS CHANGED FROM FIVE YEARS TO THREE YEARS. TRUSTEES ARE ELIGIBLE FOR ELECTION TO THREE CONSECUTIVE TERMS FOR A TOTAL OF NINE YEARS. THE STANDARD FOR RE-ELECTION IS THE SAME AS IN THE CURRENT BYLAWS -- "DEMONSTRATION OF SERVICE TO AND CONTINUED INTEREST IN THE SCHOOL." AS IN THE CURRENT BYLAWS, AN INDIVIDUAL WHO HAS SERVED THE MAXIMUM NUMBER OF TERMS IS ELIGIBLE FOR RE-ELECTION AFTER A LAPSE OF ONE YEAR. 3. THE TERM OF THE REPRESENTATIVES OF THE PARENT COUNCIL AND THE ALUMNI/AE ASSOCIATION IS CHANGED FROM TWO TO THREE YEARS IN ORDER TO PUT THESE TRUSTEES ON AN EQUAL FOOTING WITH ALL OTHERS. 4. THE REVISION ALSO PROVIDES THAT INDIVIDUALS MAY BE ELECTED TO A TERM OF LESS THAN THREE YEARS FOR THE SPECIFIC PURPOSE OF (1) FILLING A VACANCY CREATED BY THE DEPARTURE OF A TRUSTEE WHO DOES NOT COMPLETE HIS OR HER THREE-YEAR TERM; (2) EQUALIZING THE NUMBER OF TRUSTEES IN EACH CLASS OF TRUSTEES; OR (3) INCREASING THE NUMBER OF TRUSTEES IN A MANNER THAT EQUALIZES THE NUMBER OF TRUSTEES IN EACH CLASS. 5. TRUSTEES WHO ARE ELECTED TO AN INITIAL SHORT TERM AND TRUSTEES WHO (I) ARE CURRENTLY SERVING AN INITIAL FIVE-YEAR TERM AND (II) ARE ELECTED TO A SUBSEQUENT THREE-YEAR TERM ARE ELIGIBLE TO BE ELECTED TO A FINAL SHORT TERM THAT WOULD BRING THEIR SERVICE TO A TOTAL OF NINE YEARS. 6. ADDED A PROVISION THAT ANY TRUSTEE WHO FAILS TO ATTEND HALF OF THE MEETINGS IN ANY CONSECUTIVE 12-MONTH PERIOD MAY, UPON THE VOTE OF THE BOARD, BE DEEMED TO HAVE RESIGNED AS A TRUSTEE. 7. AS IN THE CURRENT BYLAWS, ACTION BY THE BOARD REQUIRES A MAJORITY VOTE OF THE TRUSTEES PRESENT AT A MEETING WHERE THERE IS A QUORUM, WHICH IS DEFINED AS A MAJORITY OF THE BOARD. THE REVISION CARRIES THIS RULE FORWARD, BUT ADDS A SEPARATE CATEGORY OF "FUNDAMENTAL MATTERS" FOR WHICH A TWO-THIRDS MAJORITY OF THE TRUSTEES IS REQUIRED. "FUNDAMENTAL MATTERS" ARE DEFINED AS: - REMOVAL OF A TRUSTEE - ELECTION OF A PRESIDENT WHO HAS COMPLETED NINE CONSECUTIVE YEARS OF SERVICE AS A TRUSTEE - AMENDMENT OF THE CERTIFICATE OF INCORPORATION - ADOPTION, AMENDMENT OR REPEAL OF THE BYLAWS - HIRING, REMOVAL OR REPLACEMENT OF THE HEAD OR AN ACTING HEAD - APPROVAL OF A PLAN OF MERGER - APPROVAL OF A PLAN TO DISSOLVE THE CORPORATION 8. THE PROPOSED BYLAWS INCLUDE CHARTERS FOR EACH OF THE STANDING COMMITTEES. 9. AS IN THE CURRENT BYLAWS, THE EXECUTIVE COMMITTEE IS COMPOSED OF THE OFFICERS AND THE HEAD OF SCHOOL, AND THE PRESIDENT IS AUTHORIZED TO APPOINT ADDITIONAL TRUSTEES TO SERVE ON THE EXECUTIVE COMMITTEE. ALSO AS IN THE CURRENT BYLAWS, THE EXECUTIVE COMMITTEE IS AUTHORIZED TO EXERCISE THE POWERS OF THE FULL BOARD IN THE INTERVALS BETWEEN THE MEETINGS OF THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE OF THE COMMITTEE OF TRUSTEES HAS BEEN AUTHORIZED TO REVIEW THE FORM 990 AND TO APPROVE ITS FILINGS. WHEN IT HAS PERFORMED ITS AUTHORIZED DUTY, THE AUDIT COMMITTEE REPORTS TO THE COMMITTEE OF TRUSTEES THAT IT HAS REVIEWED AND APPROVED ITS FILING. THE 990, EXCLUDING SCHEDULE B SCHEDULE OF CONTRIBUTORS, IS THEN MADE AVAILABLE TO TRUSTEES AS REQUESTED AFTER IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL PROVIDES THE CONFLICT OF INTEREST POLICY TO TRUSTEES AND KEY EMPLOYEES ON AN ANNUAL BASIS. THIS POLICY IS REVIEWED AT A TRUSTEE MEETING. ON AN ANNUAL BASIS ALL TRUSTEES AND KEY EMPLOYEES SIGN A CONFLICT OF INTEREST CERTIFICATE OF ACKNOWLEDGEMENT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE HEAD OF SCHOOL IS SET BY CONTRACT. THIS CONTRACT TYPICALLY RUNS FOR A THREE YEAR PERIOD. AT THE OUTSET OF THE CONTRACT, COMPENSATION IS DETERMINED BY A SUBSET OF TRUSTEES, INCLUDING THE PRESIDENT. BENCHMARK AND COMPARATIVE DATA OBTAINED FROM A VARIETY OF SOURCES, INCLUDING THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS AND OTHER REGIONALIZED SURVEYS, IS USED TO DETERMINE A MARKET BASED RATE OF COMPENSATION. FOR YEARS 2 AND 3 OF THE CONTRACT, ANNUAL COMPENSATION IS ESCALATED AT A RATE CONSISTENT WITH ANNUAL PERCENTAGE INCREASES FOR FACULTY AND STAFF. COMPENSATION FOR THE CHIEF FINANCIAL AND OPERATING OFFICER IS SET BY CONTRACT. THIS CONTRACT RUNS FOR A SINGLE TWELVE MONTH PERIOD. RATES OF COMPENSATION UNDER THIS CONTRACT ARE SET ANNUALLY BY THE HEAD OF SCHOOL. BENCHMARK AND COMPARATIVE DATA OBTAINED FROM A VARIETY OF SOURCES, INCLUDING THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS AND OTHER REGIONALIZED SURVEYS, IS USED TO DETERMINE A MARKET BASED RATE OF COMPENSATION. FORM 990, PART VI, SECTION C, LINE 18 FORM 1023, FORM 990, AND FORM 990T ARE MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE GENERALLY NOT MADE AVAILABLE FOR PUBLIC INSPECTION SINCE THE DOCUMENTS ARE CONSIDERED TO BE INTERNAL INFORMATION. FORM 990, PART XI, LINE 9: CHANGE IN VALUATION OF SPLIT INTEREST AGREEMENTS -126,294. PRIOR YEAR DEFERRED AND OTHER ACCRUED EXPENSES -269,700. FORM 990, PART XII, LINE 2C THERE HAVE BEEN NO CHANGES MADE TO THE ORGANIZATION'S OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR.