2014-05-02T14:09:51-05:00 2013-06-30 420714325 MCGLADREY LLP 80 CITY SQUARE BOSTON MA 021293742 990 2012-07-01 041200600 CONCORD ACADEMY CONC 9784022200 166 MAIN STREET CONCORD MA 01742 MCGLADREY LLP 9784022200 2014-05-02 1 LYNNE JOHNSON P00757336 6179129000 2012 2015-11-30 17:44:51Z RICHARD G HARDY 166 MAIN STREET CONCORD MA 01742 160850535 0 X WWW.CONCORDACADEMY.ORG X 1922 MA CONCORD ACADEMY IS A FOUR-YEAR, COEDUCATIONAL, BOARDING AND DAY COLLEGE-PREPARATORY SCHOOL CONSISTING OF GRADES NINE THROUGH TWELVE. THE SCHOOL WAS FOUNDED IN 1922 AND IS LOCATED IN CONCORD, MASSACHUSETTS. THE 2012-2013 ENROLLMENT WAS COMPOSED OF 368 STUDENTS, 153 OF WHOM WERE BOARDING STUDENTS AND 215 OF WHOM WERE DAY STUDENTS COMING FROM 19 STATES/TERRITORIES AND 10 FOREIGN COUNTRIES. 24 22 380 173 0 0 5892064 6537542 16572337 17402376 2008574 1278336 14654 21222 24487629 25239476 3277979 3491998 0 0 10973230 11485955 0 0 1734460 6919098 7610722 21170307 22588675 3317322 2650801 93963258 97761702 23838696 21838108 70124562 75923594 CONCORD ACADEMY ENGAGES ITS STUDENTS IN A COMMUNITY ANIMATED BY A LOVE OF LEARNING, ENRICHED BY A DIVERSITY OF BACKGROUNDS AND PERSPECTIVES, AND GUIDED BY A COVENANT OF COMMON TRUST. 0 0 17580876 3491998 17402376 SECONDARY EDUCATION: 368 STUDENTS IN GRADES 9 THROUGH 12; EDUCATIONAL PROGRAMS, GENERAL/OTHER: SUMMER CAMP 8-WEEK PROGRAM FOR CHILDREN IN GRADES PRE-K THROUGH 9. 17580876 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 1 1 0 0 0 1 100 0 1 380 1 0 0 0 0 0 1 1 0 0 0 0 X 24 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X DEBORAH MCCARTHY CONTROLLER 9784022200 166 MAIN STREET CONCORD MA 01742 JOHN J MORIARTY 2.00 X X 0 0 0 AMELIA LLOYD MCCARTHY 2.00 X X 0 0 0 FAY LAMPERT SHUTZER 2.00 X X 0 0 0 W ANTHONY BROOKE 2.00 X X 0 0 0 JEFFREY L EBERLE 2.00 X X 0 0 0 LISA FRUSZTAJER 2.00 X X 0 0 0 DEBRA ALVAREZ 1.00 X 0 0 0 ELIZABETH BALLANTINE 1.00 X 0 0 0 PAUL S BARTH 1.00 X 0 0 0 FRANCES SAVOIA BROWN 1.00 X 0 0 0 JOANNE R CASPER 1.00 X 0 0 0 AMY CAMMANN CHOLNOKY 1.00 X 0 0 0 SILVIA GOSNELL 1.00 X 0 0 0 PETER H MATTOON 1.00 X 0 0 0 JILL CONWAY MEHL 1.00 X 0 0 0 MERVAN F OSBORNE 1.00 X 0 0 0 DERRICK PANG 1.00 X 0 0 0 KEVIN PARKE 1.00 X 0 0 0 NEIL E RASMUSSEN 1.00 X 0 0 0 JOSE IVAN ROMAN 1.00 X 0 0 0 KATHARINE REA SCHMITT 1.00 X 0 0 0 JORGE SOLARES-PARKHURST 1.00 X 0 0 0 KIM WILLIAMS 1.00 X 0 0 0 RICHARD G HARDY 55.00 X X 284190 0 57618 JUDI SELDIN 55.00 X 239897 0 49645 KATHLEEN KELLY 55.00 X 181598 0 15215 PAMELA SAFFORD 55.00 X 144557 0 18341 ROBERT KOSKOVICH 55.00 X 125410 0 28048 DAVID ROST 55.00 X 108715 0 26960 DONALD KINGMAN 55.00 X 108597 0 26779 DAVID LEACH 50.00 X 100589 0 9665 1293553 0 232271 8 0 1 0 SPORTS TURF SPECIALTIES 20 KENNETH A MINER DRIVE WRENTHAM MA 02093 SPORTS FIELD TURF/SUPPLIES 826838 MATTHEW CONSTRUCTION COMPANY 4 MECHANIC STREET NATICK MA 01760 CONSTRUCTION AND REMODEL 136760 2 16105 6521437 903442 6537542 TUITION AND FEES/SUMMER PROGRAM 611110 17276679 17276679 MISCELLANEOUS INCOME 611110 125697 125697 17402376 811165 811165 135960062 3495 135495394 992 464668 2503 467171 467171 10350 16105 12149 -1799 -1799 27230 1350 25880 25880 98315 101174 -2859 -2859 25239476 17402376 0 1299558 3491998 3491998 849908 649897 200011 8180826 6461935 1051951 666940 541780 456409 39949 45422 1293996 990538 183222 120236 619445 451385 108974 59086 23603 23603 62990 62990 122690 122690 644534 489339 134631 20564 213237 65694 119678 27865 192400 157518 28974 5908 192410 122111 55668 14631 867704 791781 46346 29577 246505 120761 44466 81278 134046 97007 27102 9937 438738 328829 66066 43843 1499800 1380267 73253 46280 85297 85297 FOOD 1413211 1203845 81373 127993 EQUIPMENT PURCHASE REPA 773386 676366 42431 54589 COPIES, PRINTING, POSTA 173064 27601 65620 79843 DUES & SUBSCRIPTIONS 69826 29825 29086 10915 457281 237667 130072 89542 22588675 17580876 3273339 1734460 11703 19239 15008586 12168993 4188123 2351757 511413 236135 3963 2484 0 0 92696 103486 38301 17873 373104 348862 45541585 22419234 21420609 23122351 49204919 23988695 2591901 33337826 0 0 517940 2064001 93963258 97761702 1792354 1425397 0 0 7996922 8368617 11010069 10550069 0 0 1400685 0 0 0 0 0 1638666 1494025 23838696 21838108 X 28908545 34849205 14668596 12861298 26547421 28213091 70124562 75923594 93963258 97761702 X 2650801 2590059 558172 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 51266142 4402648 3674531 429098 2090902 0 56823321 54404490 1843039 -2664387 393891 1923109 0 51266142 44247520 1763221 10561749 324546 1843454 0 54404490 38855071 2798398 4759050 334401 1830598 0 44247520 46986395 1842416 -7751951 378962 1842827 0 38855071 0.37000 0.47000 0.16000 0 0 6359794 6359794 32481795 19277866 13203929 4278338 3091601 1186737 2421658 49767 2371891 23122351 EQUITIES 8323524 F FIXED INCOME 8498407 F MULTI ASSET 11015041 F ABSOLUTE RETURN 2925117 F REAL ASSETS 2575737 F 33337826 BOOKSTORE DEPOSITS 365291 CAPITAL LEASE OBLIGATIONS 79510 HOUSING DEPOSITS 15560 INTEREST RATES SWAP - LIABILITY 586954 REGISTRATION DEPOSITS 446710 1494025 X 24975025 2590059 -2966680 -376621 25351646 -112170 -112170 25239476 19175993 112170 112170 19063823 3524852 3524852 22588675 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE ACADEMY QUALIFIES AS A TAX-EXEMPT, NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "CODE") AND IS EXEMPT FROM FEDERAL INCOME TAX ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. ACCORDINGLY, NO PROVISION FOR FEDERAL INCOME TAX HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ACADEMY FOLLOWS FASB ASC 740, INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES BY PRESCRIBING THE RECOGNITION THRESHOLD A TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. MANAGEMENT BELIEVES THAT THE ACADEMY HAS NO MATERIAL UNCERTAINTIES IN INCOME TAXES. THE ACADEMY IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR FISCAL YEARS BEFORE 2010. THE ACADEMY WILL ACCOUNT FOR INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, AS PART OF TAX EXPENSE. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT-INTEREST AGREEMENT 349,903. UNREALIZED GAIN ON INTEREST RATE SWAP 208,269. FINANCIAL AID GRANTS NETTED WITH REVENUE ON FINANCIAL STATEMENTS -3,402,162. INVESTMENT ADVISORY FEES NETTED WITH GAINS -122,690. PART XI, LINE 4B - OTHER ADJUSTMENTS: GAIN ON SALE OF FIXED ASSETS NETTED WITH PROGRAM EXPENSES 2,503. SPECIAL EVENTS EXPENSES REPORTED ON FORM 990, PART VIII, LINE 8B AND 9B -13,499. BOOKSTORE EXPENSES REPORTED ON FORM 990, PART VIII, LINE 10B -101,174. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES REPORTED ON FORM 990, PART VIII, LINE 8B AND 9B 13,499. BOOKSTORE EXPENSES REPORTED ON FORM 990, PART VIII, LINE 10B 101,174. GAIN ON SALE OF FIXED ASSETS REPORTED ON FORM 990, PART VIII, LINE 7C -2,503. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID GRANTS NETTED WITH REVENUE 3,402,162. INVESTMENT ADVISORY FEES NETTED WITH GAINS 122,690. 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 FOLLOWING STATEMENT IS PUBLISHED ANNUALLY IN THE BOSTON GLOBE: WE MEMBER SCHOOLS OF THE ASSOCIATION OF INDEPENDENT SCHOOLS IN NEW ENGLAND REAFFIRM OUR LONG-STANDING POLICY OF NONDISCRIMINATORY ADMISSION OF STUDENTS. WE ADMIT STUDENTS OF ANY RACE, COLOR, RELIGIOUS AFFILIATION, NATIONAL AND ETHNIC ORIGIN AND QUALIFIED HANDICAPPED STUDENTS TO ALL RIGHTS, PRIVILEGES, PROGRAMS AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT OUR SCHOOLS. WE DO NOT DISCRIMINATE IN VIOLATION OF ANY LAW OR STATUTE IN THE ADMINISTRATION OF OUR EDUCATIONAL POLICIES, ADMISSIONS POLICIES, SCHOLARSHIP AND LOAN PROGRAM, AND ATHLETIC OR OTHER SCHOOL ADMINISTERED PROGRAMS. INFORMATION AND SCHOOL CATALOGUES MAY BE OBTAINED BY CALLING THE SCHOOL. EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES SCHOOL FAIRS; RECRUITMENT 13117 EAST ASIA AND THE PACIFIC 0 0 FUNDRAISING ACTIVITIES 7055 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 ALUMNAE EVENTS; CONCORD ACADEMY UPDATES 7923 0 0 0 0 0 0 28095 0 28095 0 0 0 0 0 0 BENEFIT FOR FINANCIAL AID 26455 16105 10350 12149 26455 16105 10350 12149 12149 -1799 27230 1350 1 0.30000 27230 1350 1350 25880 MA 1 0 0 0 1.00000 0.00000 CONCORD ACADEMY ADVANCEMENT OFFICE 166 MAIN STREET CONCORD MA 01742 0 0 1 TUITION GRANTS 88 0 3402162 DIFFERENCE AFTER EXPECTED FAMILY CONTRIBUTION PER FINANCIAL AID SOFTWARE GRANTS DEDUCTED FROM SCHOOL TUITION MUSIC LESSON FINANCIAL AID 32 0 37395 PERCENTAGE OF FINANCIAL AID AWARD FINANCIAL AID DEDUCTED FROM MUSIC LESSON FEES HEALTH INSURANCE FINANCIAL AID 25 0 38941 PERCENTAGE OF FINANCIAL AID AWARD FINANCIAL AID DEDUCTED FROM STUDENT HEALTH INSURANCE COSTS MONTHLY SUPPLEMENTAL FOR INCIDENTALS 32 13500 0 MONTHLY CHECKS FOR INCIDENTALS AND TRANSPORTATION COSTS TO AND FROM SCHOOL PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: CONCORD ACADEMY AWARDED FINANCIAL ASSISTANCE TO 88 STUDENTS INCLUDING TUITION GRANTS AND ASSISTANCE FOR MUSIC LESSONS, HEALTH INSURANCE, BOOKSTORE PURCHASES, TRANSPORTATION AND MISCELLANEOUS EXPENSES. ASSISTANCE IS AWARDED ON A FINANCIAL NEED BASIS THROUGH THE FINANCIAL AID OFFICE. BOTH THE FINANCIAL AID DIRECTOR AND THE FINANCE OFFICE STAFF ADMINISTER AND MONITOR ALL GRANTS AND STUDENT SPENDING ON A MONTHLY BASIS. THE FINANCIAL AID DIRECTOR MEETS MONTHLY WITH EACH FINANCIAL AID RECIPIENT TO REVIEW SPENDING. X 1 1 X X X X 0 1 0 0 0 0 0 0 0 RICHARD G HARDY 282957 0 0 0 1233 0 40113 0 17505 0 341808 0 0 0 JUDI SELDIN 239498 0 0 0 399 0 32140 0 17505 0 289542 0 0 0 KATHLEEN KELLY 181441 0 0 0 157 0 14507 0 708 0 196813 0 0 0 PAMELA SAFFORD 144381 0 0 0 176 0 11822 0 6519 0 162898 0 0 0 ROBERT KOSKOVICH 125312 0 0 0 98 0 10590 0 17458 0 153458 0 0 0 PART I, LINE 1A HEAD OF SCHOOL AND SOME FACULTY AND STAFF LIVE IN SCHOOL-OWNED HOUSING AS A REQUIREMENT OF THEIR JOB. PART I, LINE 3 THE CONCORD ACADEMY BOARD OF TRUSTEES EXECUTIVE COMMITTEE ALSO ACTS AS THE COMPENSATION COMMITTEE. THIS GROUP REVIEWS AND DELIBERATES COMPENSATION FOR THE HEAD OF SCHOOL AND THE CHIEF FINANCIAL OFFICER USING PEER SCHOOL DATA AND FINANCIAL REPORTING (FORM 990) AND OTHER EXTERNAL SOURCES. COMPENSATION FOR FY 12-13 FOR THESE POSITIONS WAS REVIEWED AND APPROVED BY THE COMMITTEE IN THE SPRING OF 2012. PART I, LINE 4B RICHARD HARDY, HEAD OF SCHOOL AND JUDI SELDIN, CFO, BOTH PARTICIPATE IN NONQUALIFIED RETIREMENT PLANS; EMPLOYER CONTRIBUTIONS FOR FY 12-13 IN THE AMOUNT OF $17,000 AND $16,500, RESPECTIVELY, ARE INCLUDED IN FORM 990, PART VII, COLUMN F AND SCHEDULE J, PART 11, COLUMN C. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2010-12-17 11526201 REFUNDING OF 12/23/1997 AND 11/23/2004 ISSUES 0 0 0 A 976132 11526201 230524 11295677 2006 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 1 1 RBS CITIZENS NA 9.000000000000 0 0 0 0 0 PAMELA SAFFORD HIGHLY COMPENSATED EMPLOYEE REAL ESTATE PURCHASE X 9900 2484 0 1 1 2484 BEN EBERLE JEFFREY EBERLE, TRUSTEE, FATHER OF BEN 37973 EMPLOYMENT 0 X 30 903442 FAIR MARKET VALUE 0 1 1 METHOD FOR DETERMINING NUMBER OF CONTRIBUTIONS: PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS IS THE NUMBER OF GIFTS RECEIVED. THIRD PARTY USE: PART I, LINE 32B: UBS SECURITIES, LLC AN AFFILIATE OF UBS FINANCIAL SERVICES INC. FORM 990, PART VI, SECTION B, LINE 11 UPON COMPLETION OF THE 2012 FORM 990, THE FORM IS PRESENTED FOR DISCUSSION AND REVIEW TO MEMBERS OF THE AUDIT COMMITTEE OF THE CONCORD ACADEMY BOARD OF TRUSTEES. A COPY IS THEN MADE AVAILABLE TO EACH CONCORD ACADEMY TRUSTEE ON THE TRUSTEE WEBSITE FOR FURTHER REVIEW PRIOR TO ELECTRONICALLY FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C IN OCTOBER OF EACH YEAR NEW AND RETURNING TRUSTEES ARE ASKED TO COMPLETE, SIGN AND RETURN TO THE ASSISTANT TO THE HEAD OF SCHOOL A CONFLICT OF INTEREST FORM. ONCE RETURNED, EACH FORM IS REVIEWED BY THE HEAD AND CFO TO ENSURE COMPLIANCE. IN THE EVENT OF A CONFLICT, SAID CONFLICT WOULD BE DISCUSSED WITH THE COMMITTEE OF TRUSTEES AND/OR LEGAL COUNSEL TO DETERMINE HOW TO PROCEED. THE ORIGINAL FORMS ARE KEPT IN THE INDIVIDUAL TRUSTEE FILES IN THE HEAD'S OFFICE. FORM 990, PART VI, SECTION B, LINE 15 THE CONCORD ACADEMY BOARD OF TRUSTEES EXECUTIVE COMMITTEE ALSO ACTS AS THE COMPENSATION COMMITTEE. THIS GROUP REVIEWS AND DELIBERATES COMPENSATION FOR THE HEAD OF SCHOOL AND CHIEF FINANCIAL OFFICER USING PEER SCHOOL DATA AND FINANCIAL REPORTING (FORM 990) AND OTHER EXTERNAL SOURCES. COMPENSATION FOR FY 12-13 FOR THESE POSITIONS WAS REVIEWED AND APPROVED BY THE COMMITTEE IN THE SPRING OF 2012. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE THESE DOCUMENTS AVAILABLE TO THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGES IN SPLIT-INTEREST AGREEMENTS 349,903. UNREALIZED GAIN ON INTEREST RATE SWAP 208,269. CHARITABLE REMAINDER TRUSTS (2) CHARITABLE TRUST MA CONCORD ACADEMY T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0