2014-02-28T13:18:43-06:00 2013-06-30 061009205 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2012-07-01 042103563 TRUSTEES OF DEERFIELD ACADEMY TRUS 4137740241 PO BOX 87 DEERFIELD MA 013420087 KEITH FINAN 4137740241 2014-02-28 1 ELIZABETH SOLECKI P00235171 8605614000 2012 2016-03-07 17:11:31Z KEITH FINAN PO BOX 87 DEERFIELD MA 013420087 144537253 0 X WWW.DEERFIELD.EDU X 1797 MA DEERFIELD ACADEMY IS AN INDEPENDENT SECONDARY SCHOOL COMMITTED TO HIGH STANDARDS OF SCHOLARSHIP, CITIZENSHIP, AND PERSONAL RESPONSIBILITY. THROUGH A RIGOROUS LIBERAL ARTS CURRICULUM, EXTENSIVE CO-CURRICULAR PROGRAM, AND SUPPORTIVE RESIDENTIAL ENVIRONMENT, DEERFIELD ENCOURAGES EACH STUDENT TO DEVELOP AN INQUISITIVE AND CREATIVE MIND, SOUND BODY, AND STRONG MORAL CHARACTER. 30 28 635 729 2021599 1559618 37502768 39199974 29345048 30552053 8998316 27066169 697026 787759 76543158 97605955 7123918 7370541 0 0 24984125 26064634 42451 41616 4874400 20999877 21804589 53150371 55281380 23392787 42324575 602535342 672543854 54794546 55989058 547740796 616554796 X DEERFIELD ACADEMY IS AN INDEPENDENT SECONDARY SCHOOL COMMITTED TO HIGH STANDARDS OF SCHOLARSHIP, CITIZENSHIP, AND PERSONAL RESPONSIBILITY. THROUGH A RIGOROUS LIBERAL ARTS CURRICULUM, EXTENSIVE CO-CURRICULAR PROGRAM, AND SUPPORTIVE RESIDENTIAL ENVIRONMENT, DEERFIELD ENCOURAGES EACH STUDENT TO DEVELOP AN INQUISITIVE AND CREATIVE MIND, SOUND BODY, AND STRONG MORAL CHARACTER. 0 0 40374090 7370541 30552053 DURING THE 2012-2013 ACADEMIC YEAR, 553 BOARDING AND 77 DAY STUDENTS WERE ENROLLED AT DEERFIELD ACADEMY. OUR PROGRAMS OF SECONDARY EDUCATION, (GRADES 9-12), INCLUDE THE DEVELOPMENT OF OUR STUDENTS' ACADEMIC AND SCHOLARSHIP SKILLS, CITIZENSHIP AND CHARACTER. COMMUNITY SERVICE, ATHLETIC PROGRAMS AND EXTRA-CURRICULAR ACTIVITIES ARE INTEGRATED AS A PART OF THE SCHOOL'S LONGSTANDING INTELLECTUAL AND MORAL TRADITION. 40374090 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 145 0 1 635 1 1 1 0 0 0 0 0 0 0 0 0 X 30 28 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MA X GREG ROLLAND CONTROLLER 4137741412 DEERFIELD ACADEMY DEERFIELD MA 013420087 BRONFMAN SAMUEL 2.00 0.00 X 0 0 0 CHO TAY 2.00 0.00 X 0 0 0 COHEN H RODGIN 5.00 0.00 X X 0 0 0 COWAN RORY J 2.00 0.00 X 0 0 0 CURTIS MARGARITA O'BYRNE 60.00 0.00 X X 374468 0 181355 DENUNZIO DAVID 2.00 0.00 X 0 0 0 EVANS SIDNEY H 2.00 0.00 X 0 0 0 FARMER KATHERINE 2.00 0.00 X 0 0 0 GARRISON DANIEL 2.00 0.00 X 0 0 0 GREER PHILIP 8.00 0.00 X X 0 0 0 GROSSMAN MATTHEW 2.00 0.00 X 0 0 0 GROSSMAN ROBIN 3.00 0.00 X X 0 0 0 HAVENS JOHN 2.00 0.00 X 0 0 0 HESS JOHN B 2.00 0.00 X 0 0 0 KLEINER DIANA E 2.00 0.00 X 0 0 0 KOCH DAVID 2.00 0.00 X 0 0 0 KUO STANFORD 2.00 0.00 X 0 0 0 MATTOON ROBERT 2.00 0.00 X 0 0 0 MCENIRY ROGER S 2.00 0.00 X 0 0 0 MOSLEY DANIEL 2.00 0.00 X 0 0 0 ROBERTSON J SPENCER 2.00 0.00 X 0 0 0 ROCKEFELLER MARK 2.00 0.00 X 0 0 0 RUTH ALICE 2.00 0.00 X 0 0 0 SIMMONS BRIAN 2.00 0.00 X 0 0 0 STRANDBERG DIANA S 2.00 0.00 X X 0 0 0 TERRY LUTHER 2.00 0.00 X 0 0 0 WALLACH SUSAN 2.00 0.00 X 0 0 0 WEYMOUTH PHILIP B 2.00 0.00 X 0 0 0 WHITTON LINDA 2.00 0.00 X 0 0 0 WRIGHT VICTOR 2.00 0.00 X 0 0 0 FINAN KEITH 60.00 0.00 X 212208 0 44061 POND DAVID 60.00 0.00 X 276326 0 79325 HAGAMEN THOMAS 60.00 0.00 X 168335 0 68454 GIMBEL PATRICIA 60.00 0.00 X 152691 0 51642 TAYLOR JOHN 60.00 0.00 X 156969 0 85781 LYMAN MARTHA 60.00 0.00 X 143719 0 23196 ZOLKOS TIMM 60.00 0.00 X 144217 0 21267 1628933 0 555081 17 0 1 0 ARC FIVE CAMBRIDGE CENTER CAMBRIDGE MA 02142 ARCHITECTURAL CONSULTING 1617452 MONTICELLO ASSOCIATES INC 1800 LARIMER STREET 2100 DENVER CO 80202 INVESTMENT CONSULTING 300000 TIGHE & BOND INC 53 SOUTHAMPTON ROAD WESTFIELD MA 01085 ENGINEERING & CONSULTING 146423 LANE PRESS 87 MEADOWLAND DRIVE SOUTH BURLINGTON VT 05403 PRINTING & PUBLICATION 144213 WESTFIELD CAPITAL MANAGEMENT ONE FINANCIAL CENTER BOSTON MA 02111 INVESTMENT MANAGEMENT 124278 7 39199974 3089087 39199974 TUITION AND FEES 611710 29669376 29669376 AUXILIARY PROGRAMS 611710 714634 714634 SUMMER EDUCATION 611710 168043 168043 30552053 3909578 1451149 2458429 69569895 46413304 23156591 23156591 369155 22787436 970688 517994 452694 452694 SUMMER SPORTS CAMPS & OUTSIDE FUN 713940 166154 166154 OTHER REVENUE 900099 109463 109463 FUNCTION REVENUE 900099 59448 35141 24307 335065 97605955 30552053 2021599 25832329 186822 186822 7183719 7183719 1095858 76427 666729 352702 74365 35759 38606 18397413 13375702 2807184 2214527 1853666 1361340 250789 241537 3287657 2492717 474817 320123 1355675 956371 229886 169418 1003897 1003897 78279 78279 41616 41616 653779 653779 216543 35874 106010 74659 963674 480802 286833 196039 1603667 945105 521133 137429 3417071 3168650 206733 41688 966094 260132 395880 310082 438817 329174 67565 42078 1818359 1818359 5173583 4797463 313002 63118 522274 484304 31598 6372 FOOD 1087450 939037 9900 138513 OTHER TAXES 771660 771660 TEXTBOOKS 386330 384192 1591 547 PUBLICATIONS 319453 159669 159784 2383659 1062141 957350 364168 55281380 40374090 10032890 4874400 10000 10000 18415749 25428192 44278619 56244853 268767 323058 572411 382248 540975 1032411 198885246 41038585 150864230 157846661 184302927 209073589 202421664 221289330 860000 913512 602535342 672543854 6509408 7339960 2107179 2492547 42753462 42752201 3424497 3404350 54794546 55989058 X 218930844 237158892 160036500 203945858 168773452 175450046 547740796 616554796 602535342 672543854 42324575 26489425 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 393452650 11312775 52113283 5128827 10640990 653253 440455638 381567404 17246428 10848821 5084125 10276660 849218 393452650 318585485 21769820 59408655 5614078 12012478 570000 381567404 306341192 9090134 15917331 3650561 8446693 665918 318585485 367307114 4267164 -37559313 5759649 21106154 807970 306341192 0.27000 0.40000 0.33000 1 0 643684 643684 169379101 29393494 139985607 20172581 8778199 11394382 8689880 2866892 5822988 157846661 HEDGE FUNDS 133310290 F ALTERNATIVE ASSETS 82423357 F CASH AND CASH EQUIVALENTS 5555683 F 221289330 LIFE INCOME OBLIGATIONS 3404350 3404350 116316972 26489425 -8296402 18193023 98123949 -517994 -517994 97605955 47502972 517994 517994 46984978 8296402 8296402 55281380 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: FINANCIAL AID, FACULTY SALARIES, PROFESSIONAL DEVELOPMENT, GENERAL OPERATIONS, AND OTHER. PART XI, LINE 2D - OTHER ADJUSTMENTS: GRANTS-FINANCIAL AID -7,404,230. UNRELATED BUSINESS INCOME TAX EXPENSE -238,919. INVESTMENT EXPENSE -653,253. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -517,994. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 517,994. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS-FINANCIAL AID 7,404,230. UNRELATED BUSINESS INCOME TAX EXPENSE 238,919. INVESTMENT EXPENSE 653,253. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 BY PUBLICATION IN REGIONAL NEWSPAPERS - "THE BOSTON GLOBE". THIS IS DONE ANNUALLY. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 129765869 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 717341 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES FINANCIAL AID FOR STUDY ABROAD 136200 EAST ASIA AND THE PACIFIC 0 0 RECRUITMENT AND DEVELOPMENT 308065 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 RECRUITMENT AND DEVELOPMENT 18889 CENTRAL AMERICA AND THE CARIBBEAN 0 0 RECRUITMENT AND DEVELOPMENT 29362 NORTH AMERICA 0 0 RECRUITMENT AND DEVELOPMENT 1910 SOUTH AMERICA 0 0 RECRUITMENT AND DEVELOPMENT 5051 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES FINANCIAL AID FOR STUDY ABROAD 21250 0 0 0 0 0 0 130982687 21250 131003937 1 0 1 1 1 0 X X X X 1 MARTS & LUNDY 1200 WALL STREET WEST LYNDHURST NJ 07071 CONSULTS ON STRATEGIC COMMUNICATION 0 0 41616 0 41616 MA 1 DEERFIELD AREA FIRE PROTECTION DISTRICT 501(C)(4) 16200 0 CHARITABLE TOWN OF DEERFIELD 501(C)(3) 89500 27007 OUT-OF-POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE BIG BROTHERSBIG SISTERS OF FRANKLIN COUNTY 501(C)(3) 10000 2848 OUT OF POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE 2ND HELPINGS 501(C)(3) 0 14158 OUT-OF-POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE FRANKLIN LAND TRUST 501(C)(3) 5000 0 CHARITABLE FIRST CHURCH OF DEERFIELD 501(C)(3) 2000 8009 OUT OF POCKET COST HEATING OIL CHARITABLE POCUMTUCK VALLEY MEMORIAL ASSOCIATION 501(C)(3) 0 7500 OUT OF POCKET COST BOOKS CHARITABLE 6 1 SCHOLARSHIPS 192 7006574 CASH VALUE TUITION & FEES OTHER STUDENT SUPPORT 59 19076 158068 CASH VALUE OTHER STUDENT SUPPORT PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANTS ARE PROVIDED VIA A REDUCTION IN TUITION. X X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 CURTIS MARGARITA O'BYRNE 348901 0 0 0 25567 0 128206 0 53149 0 555823 0 0 0 FINAN KEITH 195458 0 0 0 16750 0 27570 0 16491 0 256269 0 0 0 POND DAVID 276326 0 0 0 0 0 40038 0 39287 0 355651 0 0 0 HAGAMEN THOMAS 150835 0 0 0 17500 0 21888 0 46566 0 236789 0 0 0 GIMBEL PATRICIA 152691 0 0 0 0 0 19394 0 32248 0 204333 0 0 0 TAYLOR JOHN 148469 0 0 0 8500 0 20118 0 65663 0 242750 0 0 0 LYMAN MARTHA 143719 0 0 0 0 0 18269 0 4927 0 166915 0 0 0 ZOLKOS TIMM 135717 0 0 0 8500 0 18163 0 3104 0 165484 0 0 0 PART I, LINE 1A FIRST CLASS TRAVEL IS ALLOWED FOR INTERNATIONAL TRIPS ONLY. CERTAIN PERSONAL SERVICES ARE PROVIDED TO THE HEAD OF SCHOOL AND SPOUSE, TO ASSIST THEM IN FULFILLING THEIR RESPONSIBILITIES AND DUTIES TO THE ACADEMY. THESE POLICIES ARE IN WRITING. EMPLOYEES WHO ARE PROVIDED HOUSING ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. THESE HOMES ARE AVAILABLE FOR HOUSING VISITORS AND FOR OTHER USES DURING SCHOOL SPONSORED EVENTS. PART I, LINE 1B FIRST CLASS TRAVEL IS ALLOWED FOR INTERNATIONAL TRIPS ONLY. CERTAIN PERSONAL SERVICES ARE PROVIDED TO THE HEAD OF SCHOOL AND SPOUSE, TO ASSIST THEM IN FULFILLING THEIR RESPONSIBILITIES AND DUTIES TO THE ACADEMY. THESE POLICIES ARE IN WRITING. PART I, LINE 4B MARGARITA O'BYRNE CURTIS PARTICIPATES IN A 457(F) PLAN. SEPARATELY, MARGARITA O'BYRNE CURTIS AND DAVID POND HAVE NONQUALIFIED DEFERRED COMPENSATION AGREEMENTS WITH THE ACADEMY. NO PAYMENTS WERE MADE FROM THESE DURING CALENDAR YEAR 2012. A MA DEVELOPMENT FINANCE AGENCY 043431814 57583R3N3 2010-11-10 42925825 TO REFUND PRIOR ISSUES DATED 11/1/1997, 6/26/2003, & 7/16/2008. 0 0 0 B MA DEVELOPMENT FINANCE AGENCY 043431814 2013-05-02 15000000 TO EXPAND AND RENOVATE THE FINE ARTS BUILDING 0 0 0 A 42925825 40506 42328508 556811 2010 1 1 1 1 B 15000000 107600 14892400 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 1 0 0 0 0 1 B 0 0 0 0 0 0 0 0 1 A 1 B 1 HESS CORP JOHN HESS IS A TRUSTEE OF DEERFIELD AND AN OFFICER OF HESS CORP. 586028 FUEL OIL SUPPLIER TO DEERFIELD 0 MANNING CURTIS SPOUSE OF HEAD OF SCHOOL 42896 EMPLOYMENT 0 SUZANNE MANORY SPOUSE OF FORMER CFO 27116 EMPLOYMENT 0 X 130 2844621 MARKET VALUE X CHINA TRIP EXPENSES 1 244466 ACTUAL COST 0 0 1 1 THIRD PARTY USE: PART I, LINE 32B: DEERFIELD ACADEMY USES A STOCKBROKER TO SELL GIFTS OF PUBLICLY TRADED SECURITIES. FORM 990, PART VI, SECTION A, LINE 7A EXISTING BOARD MEMBERS VOTE IN NEW BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 COPIES OF THIS 2012 FORM 990 WERE SENT TO THE AUDIT COMMITTEE AND THE BOARD PRESIDENT, VICE PRESIDENT AND TREASURER, WHICH REPRESENTS APPROXIMATELY 30% OF THE ENTIRE BOARD. PRIOR TO FILING, A MEETING WITH THE AUDIT COMMITTEE MEMBERS AND MANAGEMENT TOOK PLACE IN ORDER TO REVIEW THE RETURN AND ANSWER ALL QUESTIONS. THIS FORM 990, EXCLUDING SCHEDULE B, WAS PROVIDED TO ALL OTHER MEMBERS OF THE BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BY-LAWS PROHIBIT A TRUSTEE FROM VOTING, APPROVING, OR MAKING A RECOMMENDATION REGARDING A TRANSACTION BETWEEN THE ACADEMY AND AN ENTITY IN WHICH THE INDIVIDUAL OR A MEMBER OF HIS OR HER FAMILY HAS AN OWNERSHIP INTEREST. FORM 990, PART VI, SECTION B, LINE 15A DEERFIELD ACADEMY'S BOARD OF TRUSTEES OVERSEES THE COMPENSATION OF THE ACADEMY'S TOP MANAGEMENT OFFICIALS. HEAD OF SCHOOL - THE PERSONNEL & COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS SALARY AND PERQUISITE DATA FROM OTHER INDEPENDENT SCHOOLS FOR THE POSITION OF HEAD OF SCHOOL TO ENSURE SALARIES ARE REASONABLE AND APPROPRIATE TO THE MARKET. MINUTES OF THE PERSONNEL & COMPENSATION COMMITTEE MEETING ARE MAINTAINED DOCUMENTING THE DISCUSSIONS REGARDING THE SALARY SETTING FOR THE HEAD OF SCHOOL. SENIOR STAFF - THE HEAD OF SCHOOL REVIEWS, IN CONJUNCTION WITH THE PRESIDENT OF THE BOARD, SALARY AND PERQUISITE DATA FROM OTHER INDEPENDENT SCHOOLS FOR OTHER TOP MANAGEMENT OFFICIALS, TO ENSURE SALARIES ARE REASONABLE AND APPROPRIATE TO THE MARKET. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST.