2014-11-06T10:09:24-06:00 2014-06-30 221478099 COHNREZNICK LLP 180 GLASTONBURY BOULEVARD GLASTONBURY CT 06033 990 2013-07-01 060646964 WILLIAMS MEMORIAL INSTITUTE WILL 8604435333 182 MOHEGAN AVENUE NEW LONDON CT 06320 KATHLEEN TRAMMELL ASST HEAD OF SCHOOL FIN/OPS 8604435333 2014-11-05 1 JOHN TOSCANO P00358542 8606333000 2013 2015-11-30 17:44:51Z THE WILLIAMS SCHOOL MARK FADER 182 MOHEGAN AVENUE NEW LONDON CT 06320 8050001 0 X WWW.WILLIAMSSCHOOL.ORG X 1891 CT THE SCHOOL PROVIDES EDUCATIONAL SERVICES TO STUDENTS AT THE SECONDARY SCHOOL LEVEL. 27 25 99 0 0 0 385106 472141 6694517 6749546 188934 264144 30623 34656 7299180 7520487 1252266 1218148 0 0 3932647 3847770 0 0 253866 1836145 2026017 7021058 7091935 278122 428552 16251764 17163103 5916994 5806465 10334770 11356638 TO FOSTER THE INTELLECTUAL, MORAL, AESTHETIC, AND PHYSICAL DEVELOPMENT OF YOUNG MEN AND WOMEN IN PREPARATION FOR COLLEGE, A LIFETIME OF LEARNING, AND ACTIVE PARTICIPATION IN A CHANGING SOCIETY. 0 0 5970048 1218148 6749546 WILLIAMS MEMORIAL INSTITUTE'S PRIMARY PROGRAM SERVICE IS EDUCATION FOR APPROXIMATELY 236 STUDENTS FROM GRADES SEVEN THROUGH TWELVE. 5970048 1 1 0 0 0 0 0 0 0 1 1 0 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 1 0 0 0 1 0 0 0 0 0 0 0 0 1 25 0 1 99 1 0 0 0 0 0 1 1 0 0 0 0 X 27 25 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X KATHLEEN TRAMMELL ASS'T HEAD OF SCHOOL FOR FINANCE AND OPERATIONS 8604435333 182 MOHEGAN AVENUE NEW LONDON CT 06320 MARK FADER HEAD OF SCHOOL 40.00 X X 159194 0 63788 BRUCE GOLDSTEIN PRESIDENT 10.00 X X 0 0 0 JOHN CATLETT VICE PRESIDENT 5.00 X X 0 0 0 JEFFREY BROWN SECRETARY 5.00 X X 0 0 0 SCOTT GIBSON TREASURER 5.00 X X 0 0 0 JOHN BRODZINSKI BOARD MEMBER 3.00 X 0 0 0 HOLLY CHEESEMAN BOARD MEMBER 3.00 X 0 0 0 STEVEN DAREN BOARD MEMBER 3.00 X 0 0 0 STEPHEN DICICCO BOARD MEMBER 3.00 X 0 0 0 PATRICK DOHERTY BOARD MEMBER 3.00 X 0 0 0 ETHAN GOLLER BOARD MEMBER 3.00 X 0 0 0 MARY ELLEN JUKOSKI BOARD MEMBER 3.00 X 0 0 0 AMY DANENBERG KING BOARD MEMBER 3.00 X 0 0 0 ANDREW KRESSLEY BOARD MEMBER 3.00 X 0 0 0 KATHERINE ROSEN LEISER BOARD MEMBER 3.00 X 0 0 0 JOSEPH MADAUS BOARD MEMBER 3.00 X 0 0 0 PAUL MARONI BOARD MEMBER 3.00 X 0 0 0 RONALD MENEO BOARD MEMBER 3.00 X 0 0 0 JOHN PAGNOZZI BOARD MEMBER 3.00 X 0 0 0 ELIZABETH TERRY PARKINSON BOARD MEMBER 3.00 X 0 0 0 WILLIAM PIENDIAZ BOARD MEMBER 3.00 X 0 0 0 STEVEN POWELL BOARD MEMBER 3.00 X 0 0 0 CARL REISER BOARD MEMBER 3.00 X 0 0 0 KITTY STALSBURG BOARD MEMBER 3.00 X 0 0 0 ELIZABETH SANDRI BOARD MEMBER 3.00 X 0 0 0 WILLIAM VERHOEFF BOARD MEMBER 3.00 X 0 0 0 JOSHUA WELCH BOARD MEMBER 3.00 X 0 0 0 KATHLEEN TRAMMELL ASS'T HEAD OF SCHOOL FOR FINANCE AND OPERATIONS 40.00 X 119371 0 10836 278565 0 74624 2 0 1 0 M & J BUS COMPANY PO BOX 801 OLD SAYBROOK CT 06475 TRANSPORTATION 146869 1 21787 450354 51163 472141 TUITION AND FEES 611710 6398500 6398500 AUXILIARY SERVICES 611710 351046 351046 6749546 147842 147842 34850 0 34850 34850 34850 591811 200 475709 0 116102 200 116302 116302 53611 21787 53805 -194 -194 7520487 6749546 0 298800 1218148 1218148 333340 333340 2707349 2408917 154432 144000 210903 181060 15443 14400 385049 333617 28405 23027 211129 170072 30041 11016 1794 1794 16325 16325 18349 18349 120254 114260 5994 76942 50240 18223 8479 65477 27057 38420 107434 96691 8595 2148 10789 4019 6510 260 314294 282865 25144 6285 615354 553819 49228 12307 45762 41186 3661 915 OTHER INSTRUCTIONAL 153422 151376 1364 682 TRANSPORTATION EXPENSE 140525 140525 CAFETERIA EXPENSE 115584 108649 5779 1156 EQUIPMENT RENTAL AND MA 101596 97404 3354 838 122116 86054 13703 22359 7091935 5970048 868021 253866 291493 203733 1182309 1805469 5900 205 683 3545 2778 79974 12729 15342006 6862617 9044870 8479389 5417549 6509699 225919 148623 16251764 17163103 505056 445520 991651 1051901 4270000 4057650 100000 50000 50287 201394 5916994 5806465 X 8706810 9423390 412735 662708 1215225 1270540 10334770 11356638 16251764 17163103 X 428552 733579 -140263 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3729222 101165 670901 135000 4366288 3412935 19340 431947 135000 3729222 3675123 31494 -2459 291223 3412935 2518949 766750 524424 135000 3675123 2282848 14133 221968 2518949 0.57900 0.29100 0.13000 0 0 1339666 1339666 10970687 5038246 5932441 1305859 1048003 257856 1725794 776368 949426 8479389 DEFERRED COMPENSATION 61131 INTEREST RATE SWAP OBLIGATION 140263 201394 X 6898033 733579 -119536 614043 6283990 18349 1218148 1236497 7520487 5876165 20727 20727 5855438 18349 1218148 1236497 7091935 PART V, LINE 4: THE ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS, SALARIES AND OTHER OPERATING EXPENSES. PART X, LINE 2: THE SCHOOL'S FEDERAL INFORMATION RETURNS PRIOR TO FISCAL YEAR 2011 ARE CLOSED AND MANAGEMENT CONTINUALLY EVAULUATES 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: UNREALIZED LOSS ON SWAP AGREEMENT -140,263. SPECIAL EVENTS EXPENSES 20,727. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 1,218,148. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES 20,727. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 1,218,148. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 INCLUDED IN ALL ADMISSIONS ADVERTISING, PUBLISHING IN LOCAL NEWSPAPERS AUCTION 75398 21787 53611 53805 75398 21787 53611 53805 53805 -194 1 FINANCIAL AID 86 1218148 FAIR VALUE TUITION DISCOUNT BASED ON NEED. PART I, LINE 2: WILLIAMS USES SCHOOL AND STUDENT SERVICES (SSS) TO PROCESS FINANCIAL AID APPLICATIONS. SSS IS A SERVICE OF THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS). BASED ON THE FINANCIAL INFORMATION PROVIDED, SSS PROVIDES THE SCHOOL WITH AN ESTIMATED AMOUNT EACH FAMILY CAN CONTRIBUTE TO EDUCATIONAL EXPENSES. THE FINANCIAL AID COMMITTEE AND THE BOARD OF TRUSTEES APPROVE THE AMOUNTS TO BE AWARDED. X X X X 0 0 0 0 0 0 0 1 0 MARK FADER HEAD OF SCHOOL 159104 0 0 0 90 0 16815 0 46973 0 222982 0 0 0 PART I, LINE 7 DURING CALENDAR YEAR 2013, A DISCRETIONARY BONUS, BASED UPON PERFORMANCE, WAS APPROVED BY THE BOARD PRESIDENT AND TREASURER AS WELL AS BY THE HEAD OF SCHOOL, AND PAID TO THE ASSISTANT HEAD OF SCHOOL FOR FINANCE AND OPERATIONS. A STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 060806186 2013-08-13 4195000 REFUNDING OF SERIES A BONDS 0 0 0 A 137350 4057650 83900 938 1 0 1 1 A 0 0 0 0 1 1 RBS CITIZENS NA 10.000000000000 0 0 0 0 0 A 1 DISCLOSURE NOT REQUIRED PER IRS DISCLOSURE NOT REQUIRED PER IRS 36000 FINANCIAL AID X 7 18085 FAIR VALUE X DONATED AUCTI 0 33078 0 0 1 PART I, LINE 32B: THE SCHOOL MAINTAINS AN ACCOUNT WITH A FINANCIAL INSTITUTION THROUGH WHICH STOCK GIFTS TO THE SCHOOL ARE LIQUIDATED. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVEIWED FOR ACCURACY AND COMPLETENESS BY THE HEAD OF SCHOOL, ASSISTANT HEAD OF SCHOOL FOR FINANCE AND OPERATIONS AND BOTH THE FINANCE AND AUDIT COMMITTEES, SUB-COMMITTEES OF THE BOARD OF TRUSTEES. THE FINANCE COMMITTEE THROUGH REGULAR MEETINGS THOUGHOUT THE YEAR, IS INVOLVED IN BOTH THE FINANCIAL REPORTING AND INVESTMENTS OF THE SCHOOL AND MONITORS THE SCHOOL'S OPERATIONS. THE AUDIT COMMITTEE MEETS TWICE PER YEAR AT SCHEDULED TIMES, AND ADDITIONALLY AS APPROPRIATE. THE DRAFT FORM WITHOUT SCHEDULE B IS PROVIDED TO ALL TRUSTEES FOR QUESTIONS AND COMMENTS PRIOR TO FILING. SCHEDULE B IS NOT INCLUDED DUE TO SENSITIVITY OF DONOR INFORMATION. SCHEDULE B IS MADE AVAILABLE TO TRUSTEES UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL CERTIFICATES OF ACKNOWLEDGEMENT ARE REQUIRED FROM OFFICERS, TRUSTEES, AND KEY EMPLOYEES TO IDENTIFY POTENTIAL CONFLICT OF INTERESTS. IN ADDITION, THE BUSINESS OFFICE MONITORS THE USAGE OF VENDORS AND CONTRACTORS TO ENSURE INDEPENDENCE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE HEAD OF SCHOOL IS DETERMINED BY REVIEW OF PEER SCHOOL'S SALARY BANDS AS WELL AS THROUGH CONSULTATION WITH THE CONNECTICUT ASSOCIATION OF INDEPENDENT SCHOOLS. COMPENSATION FOR THE DIRECTOR OF FINANCE AND OPERATIONS IS DETERMINED BY THE HEAD OF SCHOOL THROUGH BENCHMARKING OF STATISTICS COMPILED BY THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS). FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED LOSS ON SWAP AGREEMENT -140,263. FORM 990, PART XI, LINE 2C: THERE HAVE BEEN NO CHANGES MADE TO THE ORGANIZATION'S OVERSIGHT OR SELECTION PROCESSES DURING THE TAX YEAR.