2015-05-14T16:00:19-05:00 2014-06-30 221478099 COHNREZNICK LLP 350 CHURCH STREET 12TH FLOOR HARTFORD CT 06103 990 2013-07-01 060646906 SOUTH KENT SCHOOL CORPORATION SOUT 8609273539 40 BULLS BRIDGE ROAD SOUTH KENT CT 06785 ANDREW J VADNAIS HEAD OF SCHOOL 8609273539 2015-05-13 1 JOHN TOSCANO P00358542 9592007000 2013 2016-03-07 17:11:31Z ANDREW J VADNAIS 40 BULLS BRIDGE ROAD SOUTH KENT CT 06785 19814147 0 X WWW.SOUTHKENTSCHOOL.ORG X 1923 CT SOUTH KENT SCHOOL, ESTABLISHED IN 1923, IS A COLLEGE-PREPARATORY SCHOOL FOR BOYS IN GRADES 9 THROUGH 12. WE DEVELOP YOUNG MEN WHO CAN EVOLVE AND ADAPT, BE GLOBALLY COMPETITIVE AND PREPARED TO MEET THE CHALLENGES POSED BY A CHANGING NATURAL ENVIRONMENT. THEIR TIME AT SOUTH KENT PREPARES OUR STUDENTS FOR SUCCESS AT EACH POINT IN THEIR LIFE. THREE PRINCIPLES DEFINE THE SCHOOL: SIMPLICITY OF LIFE, SELF-RELIANCE, AND DIRECTNESS OF PURPOSE.SOUTH KENT SCHOOL IS ACCREDITED BY THE NEW ENGLAND ASSOCIATION OF SCHOOLS AND COLLEGES AND HOLDS MEMBERSHIPS IN THE CUM LAUDE SOCIETY, THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS, THE NATIONAL ASSOCIATION OF EPISCOPAL SCHOOLS, THE SECONDARY SCHOOL ADMISSION TEST BOARD, THE CONNECTICUT ASSOCIATION OF INDEPENDENT SCHOOLS, THE ASSOCIATION OF BOARDING SCHOOLS, THE INTERNATIONAL COALITION OF BOYS SCHOOLS AND THE NATIONAL ASSOCIATION FOR COLLEGE ADMISSION COUNSELING. 21 20 111 0 95294 -51400 1533287 3197088 8636974 9744990 323316 395764 101600 99608 10595177 13437450 2900930 2913636 0 0 4538839 4875479 0 0 516158 4566341 4849308 12006110 12638423 -1410933 799027 27784086 36758460 9422841 16944780 18361245 19813680 X SOUTH KENT SCHOOL IS AN INDEPENDENT, COLLEGE-PREPARATORY SCHOOL FOR BOYS. SINCE ITS FOUNDING, SOUTH KENT HAS MAINTAINED TIES WITH THE EPISCOPAL CHURCH. THREE PRINCIPLES DEFINE THE SCHOOL: SIMPLICITY OF LIFE, SELF-RELIANCE, AND DIRECTNESS OF PURPOSE.WE OFFER, BY LIVING SIMPLY, AN UNCLUTTERED ENVIRONMENT FOR LIVELY AND RIGOROUS LEARNING.WE ENCOURAGE OUR STUDENTS TO BECOME SELF-RELIANT IN ORDER TO DEVELOP COMPETENCE AND SELF-ESTEEM.WE VALUE DIRECTNESS OF PURPOSE: WE WANT EACH STUDENT TO WELCOME THE CHALLENGE TO FOCUS HIS ENERGIES, TO SET GOALS, AND TO WORK TO MEET THEM. 0 0 10294893 2913636 9675142 A PRIVATE SECONDARY EDUCATIONAL INSTITUTION FOR APPROXIMATELY 200 BOARDING AND DAY STUDENTS (BOYS). THE SCHOOL PROVIDES AN ENVIRONMENT THAT ENCOURAGES INTELLECTUAL, CULTURAL AND ATHLETIC ACHIEVEMENT. 10294893 1 1 0 0 0 0 0 0 0 1 1 0 0 1 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 1 0 1 0 0 0 0 0 0 0 0 1 64 0 1 111 1 1 1 0 0 0 0 1 1 0 0 0 0 X 21 20 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 1 0 X STEVEN E CAMARDI 8609273539 40 BULLS BRIDGE ROAD SOUTH KENT CT 06785 JEFFREY G ROSENBERG CHAIRMAN 1.00 X X 0 0 0 LINCOLN W DAY PRESIDENT 1.00 X X 0 0 0 KAI J CHIN TREASURER 1.00 X X 0 0 0 MATTHEW J GARDELLA TRUSTEE 1.00 X 0 0 0 HAROLD W BOGLE TRUSTEE 1.00 X 0 0 0 JEFFERY BURKE TRUSTEE 1.00 X 0 0 0 RODNEY L BURTON TRUSTEE 1.00 X 0 0 0 FREDERICK K DAY TRUSTEE 1.00 X 0 0 0 MCLEAN H ERSKINE TRUSTEE 1.00 X 0 0 0 CHRISTOPHER FARR TRUSTEE 1.00 X 0 0 0 JOHN L GARCEAU TRUSTEE 1.00 X 0 0 0 SUSAN GARDNER TRUSTEE 1.00 X 0 0 0 JAMES M GARNETT JR TRUSTEE 1.00 X 0 0 0 ROBERT H HACKER TRUSTEE 1.00 X 0 0 0 JEFFREY L HEATH TRUSTEE 1.00 X 0 0 0 CURTIS HIMY TRUSTEE 1.00 X 0 0 0 HANI M S FARSI TRUSTEE 1.00 X 0 0 0 CAPT KATHLEEN LINDENMAYER USN RET TRUSTEE 1.00 X 0 0 0 DAVID LYON TRUSTEE 1.00 X 0 0 0 FITZ ROBERTSON TRUSTEE 1.00 X 0 0 0 MARC KRURER THROUGH FEB 2014 TRUSTEE 1.00 X 0 0 0 WILLIAM RIKER THROUGH FEB 2014 TRUSTEE 1.00 X 0 0 0 ANDREW J VADNAIS HEAD OF SCHOOL/SECRETARY 40.00 X X 163721 0 64142 STEVEN E CAMARDI CHIEF FINANCIAL OFFICER/BU 40.00 X 88098 0 28215 251819 0 92357 1 0 1 0 FLIK INDEPENDENT SCHOOLS PO BOX 417632 BOSTON MA 02241 FOOD SERVICE 676930 SEGALLA'S TURNKEY HOUSING LLC RT 7 PO BOX 531 CANAAN CT 06018 MODULAR HOME BUILDERS 617647 MIKE GAWEL 128B SEGAR MOUNTAIN ROAD KENT CT 06757 GENERAL CONTRACTOR 433537 NEW ENGLAND BARN COMPANY LLC 63 GAYLORD ROAD GAYLORDSVILLE CT 06755 GENERAL CONTRACTOR 322637 WIEBER POWELL & GRUNIGEN INC 29 NORTH MAIN STREET WEST HARTFORD CT 06107 ARCHITECTS 255092 10 21984 3175104 114704 3197088 TUITION AND FEES 611710 9245700 9245700 AUXILIARY PROGRAMS AND SERVICES 611710 303996 303996 SUMMER PROGRAM REVENUE 611710 195294 100000 95294 9744990 397592 397592 64975 0 64975 64975 64975 6221086 6222914 -1828 -1828 -1828 57531 21984 48344 9187 9187 115440 105439 10001 10001 OTHER INCOME 611710 15445 15445 15445 13437450 9675142 95294 469926 2913636 2913636 320206 30578 197894 91734 3398951 2583859 677139 137953 207407 157021 43111 7275 692854 535885 134489 22480 256061 182477 64211 9373 5598 5598 29500 29500 325441 220516 101825 3100 16648 16648 138126 39331 75888 22907 99704 74778 14956 9970 1069269 908879 106927 53463 83741 13666 57523 12552 6081 2238 3843 353222 317900 35322 779414 701473 77941 110292 18486 91806 DINING SERVICES 511144 511144 ATHLETICS 447028 447028 STUDENT SERVICES 203468 203468 STUDENT ACTIVITIES 182312 182312 488320 250218 92751 145351 12638423 10294893 1827372 516158 322130 304172 6072 30774 706830 1560163 51428 30158 15034 15034 63978 51857 233193 43857 24845036 10176908 12254834 14668128 13706709 15758694 423878 4295623 27784086 36758460 1044818 1015657 1193059 1503751 7300000 6163923 5461616 1021041 1663756 9422841 16944780 X 5936781 6536566 6606162 7458812 5818302 5818302 18361245 19813680 27784086 36758460 X 799027 1562718 -909310 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6543284 678502 958369 350000 7830155 6809585 196756 536943 1000000 6543284 6675585 96823 -127358 127500 6517550 5693537 96449 1192099 306500 6675585 5772022 245815 285700 610000 5693537 0.08700 0.74300 0.17000 0 0 1431050 1431050 14845001 7798137 7046864 2484749 1698364 786385 6084236 680407 5403829 14668128 DEFERRED COMPENSATION 507780 RESTRICTED CASH 3594998 DEFERRED BOND ISSUANCE COSTS 189845 SECURITY DEPOSITS 3000 4295623 POST RETIREMENT BENEFIT OBLIGATION 758611 DEFERRED COMPENSATION 507780 SWAP AGREEMENT 397365 1663756 X 11491417 1562718 118917 1681635 9809782 3627668 3627668 13437450 10038982 314195 314195 9724787 2913636 2913636 12638423 PART V, LINE 4: THE SOUTH KENT SCHOOL HAS APPROXIMATELY 40 INDIVIDUAL ENDOWMENT FUNDS ESTABLISHED FOR A VARIETY OF SCHOOL-RELATED PURPOSES. PART X, LINE 2: THE SCHOOLS FEDERAL INFORMATION RETURNS PRIOR TO FISCAL YEAR 2011 ARE CLOSED AND MANAGEMENT CONTINUALLY EVALUATES 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: COST OF GOODS SOLD 105,439. NET SPECIAL EVENTS 13,478. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,913,636. CHANGE IN VALUE OF SWAP AGREEMENT 397,365. PROVISION FOR UNCOLLECTIBLE PLEDGES 316,667. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 105,439. ACTUARIAL LOSS ON POST-RETIREMENT BENEFIT OBLIGATION 195,278. NET SPECIAL EVENTS 13,478. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,913,636. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 REQUIRED NOTICE PUBLISHED IN NEWSPAPER. EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES STUDENT RECRUITMENT 19561 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 PROGRAM SERVICES STUDENT RECRUITMENT 1398 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES STUDENT RECRUITMENT 1504 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDENT RECRUITMENT 10835 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STUDENT RECRUITMENT 1516 0 0 0 0 0 0 34814 0 34814 0 0 0 0 0 0 PART I, LINE 3: ACCRUAL BASIS HARVEST AUCTION 56850 21984 34866 34866 GOLF TOURNAMENT 22665 22665 13478 79515 21984 57531 48344 48344 9187 1 FINANCIAL AID 116 2913636 FMV TUITION AND FEES PART I, LINE 2: FINANCIAL AID IS GRANTED TO FAMILIES ON A NEED BASIS. IN ORDER TO OBJECTIVELY ESTABLISH FINANCIAL NEED, THE SCHOOL SUBSCRIBES TO THE SCHOOL AND STUDENT SERVICES (SSS). THE SSS PROVIDES A FINANCIAL NEEDS ANALYSIS USING OBJECTIVE CRITERIA APPLIED TO FINANCIAL INFORMATION PROVIDED BY THE FAMILIES. ONCE NEED IS ESTABLISHED, THE SCHOOL WILL DETERMINE THE APPROPRIATE AWARD AMOUNT. X 1 1 X X 0 0 0 0 0 0 0 0 0 ANDREW J VADNAIS HEAD OF SCHOOL/SECRETARY 147721 0 0 0 16000 0 16000 0 48142 0 227863 0 0 0 PART I, LINE 1A THE HEADMASTER MUST RESIDE IN THE HEADMASTER'S RESIDENCE LOCATED ON THE SCHOOL'S CAMPUS IN ORDER FOR THE HEADMASTER TO EFFECTIVELY PERFORM PRESCRIBED DUTIES, INCLUDING, BUT NOT LIMITED TO, PROVIDING STUDENTS AND TEACHERS OFF HOURS WITH ACCESS TO LOCKED BUILDINGS AND OTHER CAMPUS VENUES WHEN NECESSARY, PROVIDING CAMPUS OVERSIGHT DURING EVENINGS AND WEEKENDS AND VACATIONS, AND PROVIDING COVENIENT ADMINISTRATIVE PRESENCE AT SCHOOL EVENTS. THE HEADMASTER'S OCCUPATION OF THIS RESIDENCE IS A CONDITION OF HIS EMPLOYMENT BY THE SCHOOL AND IS FOR THE CONVENIENCE OF THE SCHOOL. AS A REPRESENTATIVE OF THE SCHOOL, THE HEADMASTER USES SAID HOUSE FOR MEETINGS OF DONORS, STUDENTS, TEACHERS, STAFF MEMBERS, ALUMNI, VISITING TEACHERS, SCHOLARS, TRUSTEES, AND SPEAKERS, AND FOR SUCH OTHER SCHOOL FUNCTIONS AND AFFAIRS AS SHALL BE APPROPRIATE FOR THE BEST INTEREST AND DEVELOPMENT OF THE SCHOOL. A STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 060806186 2013-08-29 7300000 SERIES A BONDS ISSUED AUG 2013 AND FOR BUILDINGS AND STRUCTURE 0 0 0 A 7300000 146000 3705002 3594998 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 0 1 1 PEOPLE'S UNITED BANK 10.000000000000 0 0 0 0 1 A 1 NANCY LYON SPOUSE OF HEADMASTER 75000 COMPENSATION FOR HER ROLE AS THE SCHOOL'S CHIEF OPERATIONS OFFICER AND FOURTH FORM DEAN. 0 X 17 79838 FAIR VALUE X VARIOUS AUCTI 132 34866 FAIR VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 TRUSTEE FREDERICK DAY IS THE THE BROTHER OF TRUSTEE LINCOLN DAY. FORM 990, PART VI, SECTION B, LINE 11 ONCE THE FORM 990 IS COMPLETED, IT IS FIRST REVIEWED BY THE SCHOOL'S INTERNAL MANAGEMENT AND OUTSIDE ADVISORS. FOLLOWING THAT REVIEW, THE FORM 990 IS PROVIDED TO THE FULL BOARD OF TRUSTEES WHO WILL THEN REVIEW AND APPROVE THE FILING OF THE FORM FOR THE TAX YEAR. IN ORDER TO PROTECT THE PRIVACY OF ITS DONOR BASE, THE SCHOOL CHOOSES TO DISTRIBUTE TO THE BOARD A COPY OF FORM 990 WHICH EXCLUDES SCHEDULE B. ALL OTHER PAGES, SCHEDULES AND ATTACHMENTS ARE PROVIDED IN FULL TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE CORPORATION, ITS TRUSTEES AND OFFICERS SHALL AT ALL TIMES TAKE SUCH STEPS AS ARE NECESSARY TO ENSURE NO CONFLICT OF INTEREST EXISTS OR OCCURS BETWEEN ANY TRUSTEE OR OFFICER OF THE CORPORATION AND THE CORPORATION OR ITS INTERESTS. ANY TRUSTEE WHO HAS ANY INTEREST, DIRECTLY OR INDIRECTLY, IN ANY ENTITY THAT CONTRACTS WITH OR OTHERWISE SERVES THE CORPORATION SHALL BE DISQUALIFIED FROM VOTING WITH REGARD TO SUCH RELATIONSHIP OR OTHERWISE ACTING IN ANY OFFICIAL CAPACITY ON BEHALF OF THE CORPORATION IN CONNECTION WITH SUCH RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 15 THE HEAD OF SCHOOLS'S COMPENSATION IS REVIEWED ANNUALLY AND INDEPENDENTLY BY THE BOARD OF TRUSTEES. COMPARABLE COMPENSATION DATA IS CONSIDERED DURING THE REVIEW, INCLUDING SALARY DATA FROM PRIOR YEARS' FORM 990 AND NAIS BENCHMARK DATA. A RECOMMENDATION IS THEN PROVIDED FOR APPROVAL BY THE FULL BOARD. SIMILARY, SALARIES OF OTHER KEY EMPLOYEES ARE REVIEWED BY THE HEAD OF SCHOOL IN CONJUNCTION WITH COMPARABLE SALARY DATA DERIVED FROM VARIOUS SOURCES, INCLUDING NAIS BENCHMARK DATA AND FORM 990 OF SIMILAR INSTITUTIONS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE OFFICES OF THE SCHOOL. FORM 990, PART XI, LINE 9: ACTUARIAL LOSS ON POST-RETIREMENT BENEFIT OBLIGATION -195,278. CHANGE IN VALUE OF SWAP AGREEMENT -397,365. PROVISION FOR UNCOLLECTIBLE PLEDGES -316,667. FORM 990, PART XII, LINE 2C: THE SCHOOL HAS NOT CHANGED ITS OVERSIGHT OR ITS SELECTION PROCESSES DURING THE TAX YEAR.