2014-04-23T09:23:03-05:00 2013-06-30 042943536 Tonneson & Company Inc 401 Edgewater Place Suite 300 Wakefield MA 018806208 990 2012-07-01 042104824 Park School Corporation PARK 6172772456 171 Goddard Avenue Brookline MA 02445 John Connaughton 6172772456 2014-04-04 1 Cynthia P Almquist P01309212 7812459999 2014-04-04 2012 2015-11-30 17:44:51Z John Connaughton 171 Goddard Avenue Brookline MA 02445 26822778 0 X www.parkschool.org X 1923 MA Refer to Schedule O, Page 62The Park School is dedicated to excellence in education.The cornerstone of Park's program is academic excellence combining both high standards of scholarship and the encouragement of each child to develop to his or her greatest potential. The School provides a nurturing environment in which children can develop curiosity, express creativity, appreciate the value of hard work and discipline, and experience the joy of learning. Park's faculty encourages individual students to strive for intellectual, physical and moral growth, and to become contributing members of the community.Park is committed to being a metropolitan, coeducational, day school of diverse races, religions, cultures, and backgrounds. Central to its mission is an appreciation of similarities and differences of perspective and the interdependence of all people. As a family school, Park is a community in which the dignity of each child, teacher, and parent is respected. 24 24 343 150 0 0 7055551 7347464 17546818 17938662 2395220 1079844 470372 376447 27467961 26742417 2914137 3104498 0 0 13205053 13713329 0 0 670525 6654326 6453883 22773516 23271710 4694445 3470707 80067441 88629161 26905501 29127132 53161940 59502029 Refer to Schedule O, Page 62 0 0 17040261 2695846 15323995 Park School provides an exceptional independent education to approximately 554 boys and girls enrolled from pre-kindergarten through ninth grade. 1793441 408652 2614667 Summer and After-School Programs - Creative Arts at Park is a 5 week camp where children ages 7 to 15 can explore the full range of visual and performing arts. Summer at Park is an ACA-accredited camp for children ages 4 to 15. Campers can participate in a wide variety of programs of varying duration throughout the summer. After-school programs provide enriching, extended school hours for those childen who enroll. 18833702 1 1 0 0 0 0 1 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 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 57 0 1 343 1 0 0 0 0 0 1 1 0 0 0 0 X 24 24 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X Kimberly Boyd 6172772456 171 Goddard Avenue Brookline MA 02445 Suzie Tapson 5.00 X X 0 0 0 Martin Mannion 5.00 X X 0 0 0 Lee Englert 5.00 X 0 0 0 John Connaughton 5.00 X 0 0 0 David Ball 3.50 X 0 0 0 Marcus Cherry 3.50 X 0 0 0 Vincent Chiang 3.50 X 0 0 0 Atul Dhir 3.50 X 0 0 0 Julia Llyod Johannsen 3.50 X 0 0 0 Edward Johnson IV 3.50 X 0 0 0 Heidi Johnson 3.50 X 0 0 0 Brian Kavoogian 3.50 X 0 0 0 Patti Kraft 3.50 X 0 0 0 Anne Punzak Marcus 3.50 X 0 0 0 Katie McWeeney 3.50 X 0 0 0 Anne Mitchell 3.50 X 0 0 0 Scott Nathan 3.50 X 0 0 0 Stephanie Neal-Johnson 3.50 X 0 0 0 Kate Olmsted 3.50 X 0 0 0 Peter Philip 3.50 X 0 0 0 Peter Riehl 3.50 X 0 0 0 Happy Rowe 3.50 X 0 0 0 Garrett Solomon 3.50 X 0 0 0 Kerry Noone Swords 3.50 X 0 0 0 Lanny Thorndike 3.50 X 0 0 0 Sam Wilderman 3.50 X 0 0 0 Jerrold Katz 40.00 X 287860 0 67393 Kimberly Boyd 40.00 X 155556 0 21857 Cynthia Harmon 40.00 X 147876 0 14137 Beatrix Sanders 40.00 X 192520 0 25209 Raymond A Stewart 40.00 X 130933 0 21727 Mary Russell 40.00 X 118037 0 23320 Andrew Segar 40.00 X 120654 0 13426 Merle Jacobs 40.00 X 117423 0 12785 1270859 0 199854 13 0 1 0 Brock and Company Inc 257 Great Valley Parkway Malvern PA 19355 Food Service Provider 639819 Local Motion 66B Rocsam Park Road Braintree MA 02184 Bus Transportation Service 190541 Schernecker Property Services Inc 283 2nd Avenue Waltham MA 02451 General Contracting Services 102931 3 7347464 180552 7347464 Tuition 611600 15323995 15323995 After School and Summer Programs 611600 2614667 2614667 17938662 675237 675237 227237 80361 146876 146876 146876 404607 404607 404607 Miscellaneous Revenue 900099 229571 229571 229571 26742417 18168233 0 1226720 3104498 3104498 711589 711589 10216173 8491922 1223062 501189 469777 347637 109067 13073 1538252 1192062 306464 39726 777538 623403 125892 28243 31956 31956 41049 41049 179873 179873 38980 16317 22663 151325 33944 103578 13803 1310742 636110 633916 40716 32467 32467 461423 461423 277914 111584 165811 519 140109 118238 21871 605667 605667 1691322 1691322 67952 67952 Food service 685378 635303 19230 30845 Strategic Initiatives - 415657 415657 Repairs and maintenance 238183 238183 Miscellaneous expenses 48103 40655 7448 35783 1825 31547 2411 23271710 18833702 3767483 670525 9128984 10648095 6250709 5887202 197707 162181 1089011 1201537 50420547 17222398 28118112 33198149 29961444 30125002 4880701 7138348 280773 268647 160000 0 80067441 88629161 1435582 1420606 5083312 4803976 20339910 20333943 0 2500000 46697 68607 26905501 29127132 X 34144618 36855941 10522364 14067670 8494958 8578418 53161940 59502029 80067441 88629161 3470707 2869382 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 3 11.56 0 0 0 1 0 80.00 15000 36198584 762065 3767774 1511250 39217173 35757399 2302947 -549522 1312240 36198584 28793932 1658607 6559338 1254478 35757399 24019363 3388930 3615513 2229874 28793932 32642620 416230 -7444487 1595000 24019363 0.66140 0.33860 0.00000 0 0 6774254 6774254 36239674 11442602 24797072 5354423 4360322 994101 2052196 1419474 632722 33198149 Alternative Investments 7138348 F 7138348 Deferred Compensation 68607 68607 X 26407789 2869382 80361 2949743 23458046 179873 3104498 3284371 26742417 20067700 80361 80361 19987339 179873 3104498 3284371 23271710 Description of How Organization Reports Conservation Easements: Part II, Line 9: Conservation easements are included in property and equipment on the School's June 30, 2013 Statement of Financial Position. There were no new conservation easements during the fiscal year ending June 30, 2013. Description of Intended Use of Endowment Funds: Part V, Line 4: The School's primary objective is long-term capital appreciation which together with income will provide for the growth of the endowment while allowing support for current activities. The School has adopted a spending policy whereby a percentage of the historical average market value of the endowment for program services and capital needs is distributed and treated as support for operating activities. To the extent the total return requirement for the current year is not fulfilled by interest and dividends, the School utilizes realized gains of its endowment. To the extent the total return requirement for the current year is exceeded by interest and dividends, the School adds the excess income to its endowment. Description of Uncertain Tax Positions Under FIN 48: Part X, Line 2: In determining the recognition of uncertain tax positions, the School applies a more-likely-than-not recognition threshold and determines the measurement of uncertain tax positions considering the amounts and probabilities of the outcomes that could be realized upon ultimate settlement with taxing authorities. As of June 30, 2013, the School has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. Part XI, Line 2d - Other Adjustments: Rental Expenses 80,361. Part XI, Line 4b - Other Adjustments: Financial Aid - Tuition 2,695,846. Financial Aid - After School and Summer Programs 408,652. Part XII, Line 2d - Other Adjustments: Rental Expenses 80,361. Part XII, Line 4b - Other Adjustments: Financial Aid - Tuition 2,695,846. Financial Aid - After School and Summer Programs 408,652. 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 The School is a member of the Association of Independent Schools of New England (AISNE). AISNE annually publishes a racially nondiscriminatory policy in various newspapers throughout New England for its members. 1 Financial Aid 306 3104498 0 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Financial aid is based solely upon need. The School utilizes SSS, School and Student Service, to help determine a family's ability to pay school costs. SSS is owned by the National Association of Independent Schools and is used by over 2,300 K-12 schools. This service and process helps ensure that all schools use the same methods and objective procedures in evaluating an applicant's application. Total financial aid is approved by the Board of Trustees. The Head of School approves all individual financial aid recipients. X X X X 0 0 0 0 0 0 0 0 0 Jerrold Katz 287860 0 0 0 0 0 31500 0 35893 0 355253 0 0 0 Kimberly Boyd 155556 0 0 0 0 0 16500 0 5357 0 177413 0 0 0 Cynthia Harmon 147876 0 0 0 0 0 0 0 14137 0 162013 0 0 0 Beatrix Sanders 192520 0 0 0 0 0 16500 0 8709 0 217729 0 0 0 Raymond A Stewart 130933 0 0 0 0 0 0 0 21727 0 152660 0 0 0 A Massachusetts Development Finance Agency 043431814 57583RKA2 2007-02-21 9435000 Finance construction costs 0 0 0 B Massachusetts Development Finance Agency 043431814 57583UPU6 2012-04-01 14025000 Refinance 0 0 0 A 3240000 9253762 249549 9004213 0 0 1 1 B 14335621 225718 14109903 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 1 0 0 0 0 0 B 1 0 0 0 0 0 X 11 180552 Market value 0 0 0 Form 990, Part VI, Section A, line 7a All parents of children in attendance at The Park School are members of the Corporation during such period of attendance. The members of the Corporation at their annual meeting elect the Board of Trustees, the Treasurer, and the Secretary of the Corporation. Form 990, Part VI, Section B, line 11 The School's Treasurer and Assistant Head for Finance & Operations are responsible for overseeing the preparation of IRS Form 990 (990). The 990 and its supporting schedules were prepared by the public accounting firm, Tonneson & Company, Inc. (Tonneson), responsible for auditing the School's financial statements. Tonneson's work was based on information provided to them during the course of the audit by the School's business office, plus additional work requested specific to the 990. The Chair of the Board, Treasurer, Audit Committee Chair, Head of School and Assistant Head for Finance & Operations performed a detailed review of the completed 990 and reported the results of its review to the Board of Trustees. The Board of Trustees then voted to authorize the audit committee to approve the Form 990. The audit committee approved the Form 990 for filing. Form 990, Part VI, Section B, line 12c Each member of the Board of Trustees is required to disclose at the first Board Meeting of each year any existing or potential conflict of interest. The Board of Trustees may also provide for such corrective action as it deems appropriate by reason of a failure to disclose such conflict of interest, which may include removal from a position or office. Disclosure forms shall be updated annually or sooner if changed circumstances require disclosure. All persons subject to this policy are expected to update their "Annual Statement Regarding Conflict of Interest" at any time during the year that the information requested on the form changes. The administration and maintenance of the "Annual Statement Regarding Conflict of Interest" shall be the responsibility of the Chair of the Board of Trustees, or his/her designee. Form 990, Part VI, Section B, line 15 The Committee of Trustees initially determines compensation for the Head of School and reviews compensation for other key employees based on benchmarking with area peer schools. Proposed compensation is then reviewed and approved by the entire Board of Trustees. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, financial statements and Form 990 are immediately made available to the public by calling the School's office, walking into the School's office or mailing in a request to the School. The Form 990 and financial statements are also available through the Massachusetts Attorney General's office/website. Additionally, the financial statements are available to the public on the Electronic Municipal Market Access website.