2015-10-27T08:46:20-05:00 2015-06-30 221478099 COHNREZNICK LLP 350 CHURCH STREET 12TH FLOOR HARTFORD CT 06103 990 2014-07-01 141413770 MILLBROOK SCHOOL MILL 8456778261 131 MILLBROOK SCHOOL ROAD MILLBROOK NY 12545 ROBERT W CONNOLLY CFO 8456778261 2015-10-27 1 JOHN TOSCANO P00358542 9592007000 2014 2016-04-25 22:37:26Z DREW CASERTANO 131 MILLBROOK SCHOOL ROAD MILLBROOK NY 12545 26965266 0 X WWW.MILLBROOK.ORG X 1932 NY MILLBROOK SCHOOL IS A COEDUCATIONAL, COLLEGE PREPARATORY SCHOOL WHICH OFFERS COLLEGE PREPARATORY EDUCATION TO ITS BOARDING AND DAY STUDENTS. 20 19 193 0 98638 -24457 10919685 7740912 15204971 16411126 2574158 633309 38596 40898 28737410 24826245 2746572 2876145 0 0 8668250 9230691 54669 51238 1536693 9164751 8918899 20634242 21076973 8103168 3749272 104352644 107243975 23862105 23942362 80490539 83301613 X MILLBROOK SCHOOL IS A SMALL, COEDUCATIONAL, COLLEGE PREPARATORY BOARDING SCHOOL WHERE CLOSE, NURTURING, AND STIMULATING RELATIONSHIPS BETWEEN STUDENTS AND THEIR TEACHERS HAVE BEEN THE SCHOOL'S HALLMARK SINCE ITS FOUNDING. OUR GOAL IS TO PROMOTE IN EACH STUDENT THE INTELLECTUAL, EMOTIONAL, SPIRITUAL, AND PHYSICAL GROWTH WHICH WILL LEAD TO A LIFE BOTH INDIVIDUALLY SATISFYING AND VALUABLE TO THE GREATER SOCIETY. 0 0 16763296 2876145 16353579 INDEPENDENT SECONDARY EDUCATION FOR APPROXIMATELY 300 BOARDING AND DAY STUDENTS. 16763296 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 1 0 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 99 0 1 193 1 1 1 0 0 0 0 0 0 0 0 0 X 20 19 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 1 1 1 1 0 NY X ROBERT W CONNOLLY 8456778261 131 MILLBROOK SCHOOL ROAD MILLBROOK NY 12545 WILLIAM L MENARD CHAIRMAN 1.00 X X 0 0 0 PAUL SOLOMON VICE CHAIRMAN 1.00 X X 0 0 0 RICHARD STUCKEY TREASURER 1.00 X X 0 0 0 PETER R CHAPMAN SECRETARY 1.00 X X 0 0 0 FRANCISCO L BORGES TRUSTEE 1.00 X 0 0 0 WILLIAM L CROSSMAN TRUSTEE 1.00 X 0 0 0 MORGAN CONRAD TRUSTEE 1.00 X 0 0 0 ROBERT W HALLETT TRUSTEE 1.00 X 0 0 0 WILLIAM R HETTINGER TRUSTEE 1.00 X 0 0 0 CHRISTOPHER HOLBROOK TRUSTEE 1.00 X 0 0 0 CHRISTINA E LANG-ASSAEL TRUSTEE 1.00 X 0 0 0 ROBERT S KOENIGSBERGER TRUSTEE 1.00 X 0 0 0 TRACY MERRILL TRUSTEE 1.00 X 0 0 0 GORDON S PENNOYER TRUSTEE 1.00 X 0 0 0 ANNE B PUTNAM TRUSTEE 1.00 X 0 0 0 LISA SELZ TRUSTEE 1.00 X 0 0 0 GILBERT P SCHAFER III TRUSTEE 1.00 X 0 0 0 CAROLINE A WAMSLER TRUSTEE 1.00 X 0 0 0 GEORGE T WHALEN III TRUSTEE 1.00 X 0 0 0 DREW J CASERTANO HEADMASTER 40.00 X X 318733 0 124581 ROBERT W CONNOLLY CFO 40.00 X 166236 0 29047 ROBERT ANTHONY ASSISTANT TO THE HEADMASTER 40.00 X 155748 0 38808 NANCY STAHL DIRECTOR OF DEVELOPMENT 40.00 X 155120 0 27898 ELIZABETH DUHOSKI ASS'T TO THE HM, DEAN OF STUDENTS 40.00 X 103381 0 33741 899218 0 254075 5 0 1 0 KIRCHHOFF - CONSIGLI CONSTRUCTION MANAGE 199 WEST ROAD SUITE 100 PLEASANT VALLEY NY 12569 CONSTRUCTION SERVICES 6853733 ARAMARK CORPORATION PO BOX 198532 ATLANTA GA 303848532 FOOD SERVICE 1293401 VOITH & MACTAVISH 2401 WALNUT STREET 6TH FLOOR PHILADELPHIA PA 19103 ARCHITECTURAL SERVICES 648576 COREWOOD VENTURES INC 240 VAN WAGNER RD POUGHKEEPSIE NY 12603 CONSTRUCTION SERVICES 198131 LAND RESOURCES CONSULTANTS INC 160 WEST STREET SUITE E CROMWELL CT 06416 LAND CIVIL ENGINEERING 166487 7 38559 7702353 293750 7740912 TUITION AND FEES 611110 15907770 15907770 AUXILIARY INCOME 611110 260742 162297 98445 PROGRAM SUPPORTING REVENUES AND F 611110 242614 242614 16411126 632701 193 632508 1907522 1906914 608 608 608 273005 232107 40898 40898 24826245 16353579 98638 633116 2876145 2876145 575726 381382 194344 6508709 5570095 294764 643850 397380 356093 4728 36559 1251410 1071758 69742 109910 497466 396319 44035 57112 193571 193571 57250 57250 51238 51238 9529 9529 31515 15758 15757 212907 75788 130376 6743 928679 742943 167162 18574 66302 59672 6630 464582 371666 92916 2231163 1561814 557791 111558 336366 302729 33637 REPAIRS AND MAINTENANCE 981911 883720 68734 29457 FOOD SERVICE 968272 968272 INSTRUCTIONAL, ATHLETIC 819534 819534 ALUMNI, PUBLICATIONS AN 365561 91390 274171 1251757 690990 557590 3177 21076973 16763296 2776984 1536693 6834 2286 6812905 10762920 9071576 7297003 26869 132362 157150 238576 299129 82704408 27401475 53380064 55302933 26589691 25255123 7204847 7266431 888920 901000 104352644 107243975 1687540 1530441 6477011 6240080 15538144 16081297 22970 11385 136440 79159 23862105 23942362 X 55078670 59338687 11886164 9180948 13525705 14781978 80490539 83301613 104352644 107243975 X 3749272 -945796 7598 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 236565 X X 0 32523146 1462265 -330068 1176146 32479197 26997739 2940550 3609988 1025131 32523146 25278635 1103570 2297327 1681793 26997739 25016738 1065982 206348 1010433 25278635 19869758 4326001 3071183 2250204 25016738 0.50000 0.45000 0.05000 0 0 1199517 1199517 75350389 23756631 51593758 4414300 3644844 769456 1740202 1740202 55302933 HEDGE FUND 6802085 F INVESTMENT IN PARTNERSHIP 464346 C 7266431 STUDENT DEPOSITS 79159 79159 X 21001609 -945796 239240 -706556 21708165 3118080 3118080 24826245 18190535 232107 232107 17958428 3118545 3118545 21076973 PART III, LINE 1A: THE SCHOOL HAS A COLLECTION OF ARTWORK, RECORDED AT $236,565, WHICH IS ON PUBLIC DISPLAY THROUGHOUT ITS CAMPUS BUILDINGS. THE SCHOOL FOLLOWS A POLICY OF CAPITALIZING THE COLLECTION OF ARTWORK IN ITS FINANCIAL STATEMENTS. ACCORDINGLY, COLLECTION ITEMS ARE RECOGNIZED AS ASSETS, WHETHER THEY ARE PURCHASED OR RECEIVED AS A CONTRIBUTION. PART III, LINE 4: THE ART COLLECTIONS GENERALLY REPRESENTS PAINTINGS, PICTURES, AND SCULPTURES THAT HAVE BEEN RECEIVED AS DONATIONS. THEY ARE DISPLAYED AT VARIOUS LOCATIONS THROUGHOUT THE CAMPUS. PART V, LINE 4: INCOME FROM THE SCHOOL'S ENDOWMENT IS APPROPRIATED FOR STUDENT FINANCIAL AID, TEACHER'S SALARIES AND BENEFITS, AND OPERATING EXPENSES OF THE SCHOOL. APPROPRIATIONS ARE MADE IN ACCORDANCE WITH DONOR RESTRICTIONS, AND THE SCHOOL'S APPROVED SPENDING POLICY. PART X, LINE 2: THE SCHOOL HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2015. THE SCHOOL'S U.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 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 232,107. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 7,133. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,876,145. CHANGE IN VALUE OF CHARITABLE REMAINDER TRUST -465. TUITION REMISSION 242,400. LIMITED PARTNERSHIP LOSS PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 232,107. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,876,145. TUITION REMISSION 242,400. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 1) ANNUALLY IN THE NEW YORK TIMES AND LOCAL NEWPAPERS 2) CATALOGUES MAILED TO POTENTIAL STUDENTS 3) WEBSITE X X X X X 1 MARTS AND LUNDY 1200 WALL STREET WEST LYNDHURST NJ 07071 FUNDRAISING CONSULTING 0 0 0 51238 51238 NY 1 FINANCIAL AID TO STUDENTS 79 2876145 FAIR MARKET VALUE GRANTS REPRESENT FINANCIAL AID PROVIDED TO STUDENTS BASED UPON NEED. PART I, LINE 2: FINANCIAL AID IS OFFERED TO QUALIFIED STUDENTS ON THE BASIS OF THE DEMONSTRATED FINANCIAL NEED OF THE FAMILY AND THE AVAILABILITY OF FUNDS. THE SCHOOL SUBSCRIBES TO THE SCHOOL AND STUDENT SERVICES (SSS). SSS ASSESSES A FAMILY'S FINANCIAL NEED BY TAKING THE DETAILED FINANCIAL INFORMATION SUPPLIED BY THE FAMILY AND APPLYING IT TO A FORMULA NATIONALLY ACCEPTED BY INDEPENDENT SCHOOLS. SSS THEN PREPARES A REPORT OF FAMILY CONTRIBUTION (RFC), WHICH IT SENDS TO THE SCHOOL WITH A RECOMMENDATION AS TO THE AMOUNT WHICH THE FAMILY CAN CONTRIBUTE TOWARD THEIR CHILD'S EDUCATION. THE SCHOOL'S FINANCIAL AID COMMITTEE WILL USE THIS RECOMMENDATION AS A STARTING POINT FOR DETERMINING A FAMILY'S AWARD, BEARING IN MIND THAT THERE ARE MANY SPECIAL CONDITIONS SURROUNDING EACH FAMILY'S FINANCIAL SITUATION. THE FINANCIAL AID COMMITTEE ALSO TAKES INTO ACCOUNT A FAMILY'S FINANCIAL STRENGTH RELATIVE TO ALL OF THE FAMILIES WHO ARE APPLYING FOR AID AS WELL AS THE AVAILABILITY OF FUNDS WHICH THE SCHOOL HAS BUDGETED FOR THIS PURPOSE. X X 0 0 X X X X 0 1 0 0 0 0 0 0 0 DREW J CASERTANO HEADMASTER 309312 0 0 0 9421 0 61286 0 63295 0 443314 0 0 0 ROBERT W CONNOLLY CFO 166236 0 0 0 0 0 9904 0 19143 0 195283 0 0 0 ROBERT ANTHONY ASSISTANT TO THE HEADMASTER 155748 0 0 0 0 0 16000 0 22808 0 194556 0 0 0 NANCY STAHL DIRECTOR OF DEVELOPMENT 155120 0 0 0 0 0 12041 0 15857 0 183018 0 0 0 PART I, LINE 1A MOST FACULTY MEMBERS ARE REQUIRED TO LIVE ON CAMPUS. ACCORDINGLY, THE SCHOOL PROVIDES HOUSING TO ALL ELIGIBLE FACULTY MEMBERS BASED ON AVAILABILITY. IN ADDITION, PER THE TERMS OF THE EMPLOYMENT AGREEMENTS THE FOLLOWING BENEFITS ARE AVAILABLE AND INCLUDED AS OTHER REPORTABLE COMPENSATION: A) A HOUSING ALLOWANCE FOR REIMBURSEMENT OF EXPENSES RELATED TO A PERSONAL RESIDENCE B) MEMBERSHIP TO SOCIAL CLUBS (PAID FOR DIRECTLY BY THE SCHOOL) PART I, LINE 4B DURING CALENDAR YEAR 2014, MR. CASERTANO 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 DUTCHESS COUNTY LOCAL DEVELOPMENT CORPORATION SERIES 2013A 273106797 NONEAVAIL 2013-08-29 12560000 CONSTRUCTION OF NEW GIRLS DORMITORY, FACILITIES BUILDING, DINING HALL. 0 0 0 B DUTCHESS COUNTY LOCAL DEVELOPMENT CORPORATION SERIES 2013B 273106797 NONEAVAIL 2013-08-29 10440000 CONSTRUCTION OF PROJECTS AND REFUNDING SERIES 2008 BONDS AND LOC. 0 0 0 A 5850297 6709703 2043 0 0 1 1 B 209000 10231000 424894 10015106 2043 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 A 0 B 0 LINDA CASERTANO SPOUSE OF THE HEADMASTER 82563 ASSOCIATE DIRECTOR OF ADMISSIONS AND IS THE DIRECTOR OF FINANCIAL AID. 0 VIRGINIA CONNOLLY SPOUSE OF THE CFO 59358 HUMAN RESOURCES. 0 X 11 226650 FAIR MARKET VALUE X MISCELLANEOUS 17 46936 FAIR MARKET VALUE 0 1 1 PART I, LINE 32B: THE SCHOOL MAINTAINS AN ACCOUNT AT A FINANCIAL INSTITUTION INTO WHICH GIFTS OF APPRECIATED SECURITIES ARE RECEIVED AND FROM WHICH THEY ARE LIQUIDATED. FORM 990, PART VI, SECTION A, LINE 8B THE BOARD HAS CREATED VARIOUS COMMITTEES TO PERFORM CERTAIN FUNCTIONS ON BEHALF OF THE BOARD. HOWEVER, THE COMMITTEES' ACTIONS ARE REVIEWED AND RATIFIED BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11 MEMBERS OF THE AUDIT COMMITTEE AND THE HEADMASTER REVIEW FORM 990 AND APPROVE IT FOR FILING. THE FORM 990, EXCEPT FOR SCHEDULE B, IS THEN PROVIDED TO THE FULL BOARD PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE SCHOOL SENDS TO EACH OFFICER, TRUSTEE, AND KEY EMPLOYEE A QUESTIONNAIRE ON ANY CONFLICTS OF INTEREST. ALL OTHER EMPLOYEES ARE MADE AWARE OF THE POLICY, AND ENCOURAGED TO DISCLOSE ANY CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE HEADMASTER AND KEY EMPLOYEES IS APPROVED BY THE BOARD OF TRUSTEES. IT IS GENERALLY BASED ON A REVIEW OF COMPENSATION PACKAGES OFFERED BY SIMILAR SCHOOLS IN THE AREA. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF CHARITABLE TRUST 465. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 7,133. LIMITED PARTNERSHIP INCOME FORM 990, PART XII, LINE 2C THERE HAVE BEEN NO CHANGES MADE TO THE ORGANIZATION'S OVERSIGHT OR SELECTION PROCESS.