2015-11-02T14:28:37-06:00 2015-06-30 364049282 PASQUESI SHEPPARD LLC 585 BANK LANE LAKE FOREST IL 60045 990 2014-07-01 362415685 LAKE FOREST COUNTRY DAY SCHOOL LAKE 8472342350 145 SOUTH GREEN BAY ROAD LAKE FOREST IL 600453099 CHRIS HARPER DIRECTOR OF FINANCE AND OPERATIONS 8472342350 2015-08-31 1 TIMOTHY B KLEIN P00008827 8472345000 2015-08-31 2014 2016-03-07 17:11:31Z CHRIS HARPER 145 S GREEN BAY ROAD LAKE FOREST IL 60045 17845581 0 X WWW.LFCDS.ORG X 1958 IL THE PURPOSE OF THE LAKE FOREST COUNTRY DAY SCHOOL IS TO MAINTAIN AND MANAGE AN INDEPENDENT ELEMENTARY SCHOOL WHICH WILL GUIDE AND STIMULATE CHILDREN TO POSITIVE, CONSTRUCTIVE AND EFFECTIVE ATTITUDES TOWARD WORK, FAMILY AND COMMUNITY. THE SCHOOL ATTEMPTS TO STIMULATE EACH STUDENT TO MAKE THE FULLEST USE OF HIS OR HER CAPACITY TO LEARN. 19 19 130 323 0 0 1301304 2418989 7284763 7967644 2007926 1377933 56034 61483 10650027 11826049 975105 1227108 0 0 5763496 6311598 231 100 239743 4335816 4596893 11074648 12135699 -424621 -309650 44987619 44688186 32086187 33298807 12901432 11389379 X INSPIRED TEACHING, ACADEMIC RIGOR, ATTENTION TO INDIVIDUAL NEEDS, A COMMITMENT TO RESPONSIBLE CITIZENSHIP-THESE PRINCIPLES INFUSE EVERY ASPECT OF LIFE AT LAKE FOREST COUNTRY DAY SCHOOL AND DEFINE OUR DEDICATION TO PRODUCING STUDENTS OF STRONG CHARACTER WITH A PASSION FOR LEARNING. 0 0 10008629 1227108 7967644 THE SCHOOL PROVIDES ACADEMIC INSTRUCTION AND EDUCATION FOR STUDENTS FROM AGE TWO THROUGH THE EIGHTH GRADE. THE ACADEMIC PROGRAM IS ENRICHED BY AN EXTENSIVE EXTRACURRICULAR PROGRAM SPANNING THE ARTS, PUBLICATIONS, COMMUNITY SERVICE, TRIPS AND ATHLETICS. THE SCHOOL PROVIDES A WELL-ROUNDED EDUCATION TO CHILDREN OF VARIOUS SKILLS AND ABILITIES. 10008629 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 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 14 0 1 130 1 0 0 0 0 0 1 1 0 0 0 0 X 19 19 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X X CHRIS HARPER 8472342350 145 S GREEN BAY ROAD LAKE FOREST IL 600453099 X WENDY BENTON WEIL PRESIDENT 1.00 X X 0 0 0 DAVID D GRUMHAUS VICE PRESIDENT AND TREASUR 1.00 X X 0 0 0 JANA VAN PARIS VICE PRESIDENT 1.00 X X 0 0 0 AHMED FARAG SECRETARY 1.00 X X 0 0 0 KATE FITZGERALD TRUSTEE 1.00 X 0 0 0 NICHOLAS ALEXOS TRUSTEE 1.00 X 0 0 0 STEPHEN WRIGHT TRUSTEE 1.00 X 0 0 0 BILL COLLINS TRUSTEE 1.00 X 0 0 0 JANE O'NEIL TRUSTEE 1.00 X 0 0 0 YVONNE STEINWOLD TRUSTEE 1.00 X 0 0 0 DIANE POTTS TRUSTEE 1.00 X 0 0 0 EARL BARNES II TRUSTEE 1.00 X 0 0 0 BILL GIAMBRONE TRUSTEE 1.00 X 0 0 0 ADAM KRIGER TRUSTEE 1.00 X 0 0 0 JOE ANDREA TRUSTEE 1.00 X 0 0 0 PEDRO DEJESUS TRUSTEE 1.00 X 0 0 0 REBECCA GRAF TRUSTEE 1.00 X 0 0 0 DAVID KELLER TRUSTEE 1.00 X 0 0 0 MARIANNE SILVER TRUSTEE 1.00 X 0 0 0 ROBERT WHELAN HEAD OF SCHOOL 55.00 X 210000 0 222539 DANIEL KROHTA DIRECTOR OF FINANCE AND OP 45.00 X 144080 0 12386 SALLY BULLARD HEAD OF LOWER SCHOOL 50.00 X 129275 0 11178 ROBERT BULLARD ASSISTANT HEAD OF SCHOOL 45.00 X 129150 0 11173 ANDREW SPERLING HEAD OF UPPER SCHOOL 45.00 X 117600 0 10711 730105 0 267987 5 0 1 0 ORGANICLIFE 308 W ERIE SUITE 705 CHICAGO IL 60654 FOOD SERVICE 270636 TENACIOUS CLEANING SERVICE INC 481 A-IRMEN DRIVE ADDISON IL 60101 CLEANING SERVICE 190128 2 708289 1710700 315829 2418989 TUITION FEES 611600 7413434 7413434 TESTING & ADMIN. FEES 611600 204096 204096 STUDENT FEES 611600 201156 201156 TUTORING FEES 611600 125408 125408 FORFEITED TUITION 611600 23550 23550 7967644 380740 380740 84427 0 84427 84427 84427 6879523 1200 5883530 0 995993 1200 997193 997193 62115 708289 136002 -73887 -73887 MISCELLANEOUS 900099 50943 50943 50943 11826049 7967644 0 1439416 1227108 1227108 5190993 4250391 777835 162767 203339 169182 27487 6670 547495 455527 74010 17958 369771 307657 49985 12129 3013 3013 32940 32940 100 100 381992 296343 85649 55200 55200 73842 56654 17188 1125720 1000915 124805 890929 792155 98774 61490 61490 FOOD EXPENSE 324881 324881 DEPT INSTRUCTIONAL EXPE 316154 316154 BAD DEBT EXPENSE 293261 293261 SUPPLIES 262205 262205 775266 487967 247180 40119 12135699 10008629 1887327 239743 2556026 4008614 282201 164251 577119 780944 32121906 13000403 19774932 19121503 18144162 16761433 2451728 2655814 1201451 1195627 44987619 44688186 819681 895952 4275839 5434142 23000000 23000000 3990667 3968713 32086187 33298807 X 10643766 8146960 1768755 2753508 488911 488911 12901432 11389379 44987619 44688186 -309650 -1202403 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 21709550 1862902 141186 2147456 21566182 20175312 238229 3016491 1720482 21709550 20112525 138057 1959452 2034722 20175312 22162233 236774 -535212 1751270 20112525 19549461 538501 3691271 1617000 22162233 0.89400 0.02270 0.08330 0 0 885875 885875 28597755 10711699 17886056 2638276 2288704 349572 19121503 HEDGE FUNDS 2655814 F 2655814 INTEREST RATE SWAP AGREEMENT 3968713 3968713 X 9532540 -1202403 -1227108 -2429511 11962051 -136002 -136002 11826049 11044593 136002 136002 10908591 1227108 1227108 12135699 PART X, LINE 2: PART X, LINE 2: THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THAT GUIDANCE, THE SCHOOL MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE SCHOOL AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50 PERCENT LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED AGAINST GROSS TUITION -1,227,108. PART XI, LINE 4B - OTHER ADJUSTMENTS: AUCTION EXPENSES -136,002. PART XII, LINE 2D - OTHER ADJUSTMENTS: AUCTION EXPENSES 136,002. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED AGAINST GROSS TUITION 1,227,108. SCHEDULE D, PART V, LINE 4 SCHEDULE D, PART V, LINE 4: DRAWS FROM THE ENDOWMENT FUND ARE USED TO SUPPORT THE SCHOOL'S OPERATIONS AND MISSION. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 AN ANNUALLY PUBLISHED BULLETIN OF INFORMATION IS AVAILABLE TO ALL MEMBERS OF THE COMMUNITY AND CONTAINS A STATEMENT OF THE SCHOOL'S NONDISCRIMINATION POLICY. AUCTION 770404 708289 62115 11191 36514 88297 770404 708289 62115 11191 36514 88297 136002 -73887 1 FINANCIAL AID IS PROVIDED TO THOSE STUDENTS WHO ARE DETERMINED TO NEED ASSISTANCE PER JUDGEMENT BY THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID IN PRINCETON, NEW JERSEY. 68 946008 DETERMINED BY THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID. DISCOUNTED TUITION TUITION REMISSION IS PROVIDED FOR STUDENTS WHO ARE CHILDREN OF FACULTY AND STAFF. 12 281100 BASED ON GRADE LEVEL OF CHILDREN ENROLLED AT LAKE FOREST COUNTRY DAY SCHOOL. FREE TUITION PART I, LINE 2: THE SCHOOL BOARD ALLOCATES A BUDGETED AMOUNT FOR FINANCIAL AID. AWARDS ARE DETERMINED BY EVALUATING EACH FAMILY'S INCOME, EXPENSES, AND OTHER OBLIGATIONS. STUDENTS WHO RECEIVE AN AWARD MUST SHOW CONTINUED NEED FOR FINANCIAL AID, MEET ACADEMIC STANDARDS, AND DEMONSTRATE GOOD CITIZENSHIP. X X X X 1 1 X X X 0 1 0 0 0 0 0 0 0 ROBERT WHELAN HEAD OF SCHOOL 210000 0 0 0 0 0 88780 0 133759 0 432539 0 0 0 DANIEL KROHTA DIRECTOR OF FINANCE AND OP 144080 0 0 0 0 0 5763 0 6623 0 156466 0 0 0 PART I, LINE 1A ROBERT WHELAN, THE HEAD OF SCHOOL, IS PROVIDED SUBSIDIZED HOUSING, A DISCRETIONARY SPENDING ACCOUNT, SUBSIDIZED CLUB DUES, AND PERSONAL SERVICES. A ILLINOIS FINANCE AUTHORITY 861091967 2013-08-01 23000000 REFINANCE BONDS INITIALLY ISSUED 06/16/2005 FOR THE DEVELOPMENT PROJECT 0 1 0 A 23000000 302924 22697076 2007 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 A 0 0 0 0 1 1 LAKE FOREST BANK AND TRUST COMPANY 9.083333300000 0 0 0 0 0 A 0 SALLY BULLARD SALLY BULLARD IS THE HEAD OF THE LOWER SCHOOL & ROBERT BULLARD'S SPOUSE. 129275 SALLY IS EMPLOYED AS THE HEAD OF LOWER SCHOOL AT LAKE FOREST COUNTRY DAY SCHOOL. 0 ROBERT BULLARD ROBERT BULLARD IS THE ASSISTANT HEAD OF SCHOOL & SALLY BULLARD'S SPOUSE. 129150 ROBERT IS EMPLOYED AS THE ASSISTANT HEAD OF SCHOOL AT LAKE FOREST COUNTRY DAY SCHOOL. 0 X 19752 X 20 296077 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 ROBERT BULLARD AND SALLY BULLARD ARE HUSBAND AND WIFE. FORM 990, PART VI, SECTION B, LINE 11 FOR THE FISCAL YEAR ENDING JUNE 30, 2015, FORM 990 WAS BROUGHT TO THE FINANCE/AUDIT COMMITTEE FOR REVIEW PRIOR TO FILING. THE FINANCE AUDIT COMMITTEE HAS BEEN APPROVED TO REVIEW THE FORM 990 ON BEHALF OF THE BOARD. A COPY OF THE COMPLETE FORM 990 WAS MADE AVAILABLE TO THE BOARD FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE BOARD SIGNS BOTH A CONFLICT OF INTEREST POLICY BETWEEN TRUSTEE AND SCHOOL AND BETWEEN TRUSTEE AND TRUSTEE. IN CORRELATION WITH THE SCHOOL'S "HONOR CODE" PHILOSOPHY, TRUSTEES ARE EXPECTED TO ABIDE BY THIS CODE AS A WAY OF MONITORING ANY CONFLICT OF INTEREST. SHOULD ANY CONFLICT ARISE BETWEEN THE SCHOOL AND A TRUSTEE, THE CONFLICT OF INTEREST WOULD BE MADE KNOWN TO THE BOARD, WHICH WOULD THEN DETERMINE THE APPROPRIATE COURSE OF ACTION. FORM 990, PART VI, SECTION B, LINE 15 WHEN HIRING OFFICERS OR KEY EMPLOYEES, THE DAY SCHOOL REFERS TO STATISTICS PROVIDED BY THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS. FROM THIS RESOURCE THE SCHOOL USES COMPARABLE SALARIES FOR LIKE-SIZE SCHOOLS BOTH REGIONALLY AND NATIONALLY AS A REFERENCE IN DETERMINING COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 AUDITED FINANCIAL STATEMENTS ARE PROVIDED TO BANKS AND PARTIES ASSOCIATED WITH THE SCHOOL'S BOND ISSUANCE. ADDITIONALLY, VENDORS MAY REQUEST AND RECEIVE A COPY OF THE SCHOOL'S AUDITED FINANCIAL STATEMENTS AS PART OF AN EQUIPMENT LEASING TRANSACTION. THE CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.