2014-05-14T13:46:34-05:00 2013-06-30 042943536 Tonneson & Company Inc 401 Edgewater Place Suite 300 Wakefield MA 018806208 990 2012-07-01 042103623 ST MARK'S SCHOOL OF SOUTHBOROUGH INC STMA 5087866000 25 MARLBOROUGH ROAD SOUTHBOROUGH MA 01772 Robert D Meyer 5087866000 2014-05-12 1 Cynthia P Almquist P01309212 7812459999 2014-05-12 2012 2015-11-30 17:44:51Z Robert D Meyer 25 MARLBOROUGH ROAD SOUTHBOROUGH MA 01772 34961808 0 X www.stmarksschool.org X 1865 MA Refer to Schedule O, Page 60St. Mark's School educates young people for lives of leadership and service. Founded in 1865 as an intentionally small residential community, the School challenges its students to develop their particular analytic and creative capabilities by both inspiring their academic and spiritual curiosity and kindling their passion for discovery. We value cooperation over self-interest, and we encourage each person to explore his or her place in the larger world beyond our campus. 32 31 258 34 54382 49111 3586195 16302517 15640524 16406688 1086498 1661372 541645 312389 20854862 34682966 4008667 4221495 0 0 10916280 11954992 0 0 1914725 11396774 11976924 26321721 28153411 -5466859 6529555 174694040 192962971 33602121 36944170 141091919 156018801 Refer to Schedule O, Page 60 0 0 22271949 4221495 16406688 St. Mark's School of Southborough provides a high quality four year co-educational secondary level education to approximately 335 residential and day students. 22271949 1 1 0 0 0 0 0 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 X 85 0 1 258 1 1 1 1 BD NL CJ EI 0 0 0 0 0 0 0 0 X 32 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X John Clemens 5087866172 St Marks School of Southborough Southborough MA 01772 G Thomas Martinson 3.00 X X 0 0 0 Alys Reynders Scott 3.00 X X 0 0 0 Francisco J Lopez-Balboa 3.00 X X 0 0 0 The Rt Reverend J Clark Grew 3.00 X X 0 0 0 Ella Auchincloss 2.00 X 0 0 0 James Bartlett 2.00 X 0 0 0 R William Burgess Jr 2.00 X 0 0 0 Matthew D Chamberlin 2.00 X 0 0 0 Sungyong Cho 2.00 X 0 0 0 James Dolce 2.00 X 0 0 0 Michael Egan 2.00 X 0 0 0 Nicholas S Everett 2.00 X 0 0 0 Thomas Ewald 2.00 X 0 0 0 David Harmon 2.00 X 0 0 0 Michael T Hawkins 2.00 X 0 0 0 Winston Hutchins 2.00 X 0 0 0 Julia Krapf 2.00 X 0 0 0 Michael Moore 2.00 X 0 0 0 Willard Morgan 2.00 X 0 0 0 Georgia Nassikas 2.00 X 0 0 0 Rita Pang 2.00 X 0 0 0 Lars Perkins 2.00 X 0 0 0 Mackin Pulsifer 2.00 X 0 0 0 Dale Ryder 2.00 X 0 0 0 Vanessa Ryan 2.00 X 0 0 0 Margaret H Sanel 2.00 X 0 0 0 James Tanton 2.00 X 0 0 0 Paul Thompson III 2.00 X 0 0 0 Myron Wick 2.00 X 0 0 0 Bruce B Wilson 2.00 X 0 0 0 Takson Wong 2.00 X 0 0 0 John C Warren 40.00 X 238410 0 44421 Kirk I Swenson 40.00 X 206544 0 36397 Robert D Meyer 40.00 X 158934 0 30630 Kenneth J Griffin 40.00 X 133735 0 28540 Stephanie D Katz 40.00 X 119018 0 27321 Anne E Behnke 40.00 X 110708 0 18143 967349 0 185452 10 0 1 0 Consigli Construction Co Inc 72 Summer Street Medford MA 02189 Contractor 6988598 Flik Independent Schools 91337 Collections Center Drive Chicago IL 606931337 Food Services 1302020 USI Consulting Group 95 Glastonbury Boulevard Suite 102 Glastonbury CT 06033 Pension & Annuity 565154 Architectural Resources Cambridge Inc 5 Cambridge Center Cambridge MA 02142 Architect 438764 Focus Technology Solutions 93 Ledge Road Seabrook NH 03784 Technology Contractor 247279 12 16302517 1912078 16302517 Tuition 611600 16406688 16406688 16406688 36140 36140 1625232 0 1625232 1625232 117976 1507256 355769 278842 76927 76927 Explorations Program 611710 232015 232015 Miscellaneous Income 611710 40400 40400 Hockey Rink 611710 26641 26641 -63594 -63594 235462 34682966 16705744 54382 1620323 4221495 4221495 287598 287598 8895702 6202981 1571045 1121676 5394 5394 2766298 1899411 530745 336142 30436 30436 34500 34500 2376871 1993316 284920 98635 908358 566129 249480 92749 611014 407343 203671 1243885 1085225 158660 415351 272184 95389 47778 263279 169333 64442 29504 1031021 1031021 4057653 3938005 119648 UBIT Tax 181321 181321 Miscellaneous 419579 167241 164658 87680 Special Functions 183159 33985 64491 84683 Memberships and Subscri 94882 46056 44602 4224 125615 56903 57058 11654 28153411 22271949 3966737 1914725 7758615 9581394 2205005 6555457 138833 271653 32698 68329 180827 154198 994992 829447 101650017 53743626 41458548 47906391 3519484 7633009 118405038 119963093 174694040 192962971 6496356 6473803 6368845 8026247 19500025 21625449 1236895 818671 33602121 36944170 X 50717266 54837290 44262080 54160571 46112573 47020940 141091919 156018801 174694040 192962971 X 6529555 8265779 131548 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 105685493 1662007 9368112 6457916 110257696 110694128 812673 1070584 6891892 105685493 95735616 3437211 17472773 5951472 110694128 90971501 175012 11140369 6551266 95735616 125204256 715286 -24861521 10086520 90971501 0.24370 0.75630 0.00000 0 0 306000 306000 81276571 39529760 41746811 18976276 14213866 4762410 1091170 1091170 47906391 Multi-strategy investment fund 93745080 F Private equity funds 19375071 F Other funds 6842942 F 119963093 Annuities Payable 661301 Interest Rate Swap 157370 818671 X 38956319 8265779 410390 8676169 30280150 4402816 4402816 34682966 24029437 278842 278842 23750595 4402816 4402816 28153411 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: Inventory Cost of Sales 278,842. Change in Fair Value of Interest Rate Swap 131,548. Part XI, Line 4b - Other Adjustments: Financial Aid 4,221,495. Unrelated Business Income Tax 181,321. Part XII, Line 2d - Other Adjustments: Inventory Cost of Sales 278,842. Part XII, Line 4b - Other Adjustments: Financial Aid 4,221,495. Unrelated Business Income Tax 181,321. 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 Racially nondiscriminatory policy is included in all communications to the community. 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 104 4221495 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 an independent outside service bureau to help determine a family's ability to pay school costs. This service and process helps ensure that the School uses the same methods and objective procedures as other schools in evaluating an applicant's application. Employee dependents are exempt from this process and receive 100% financial aid. Total financial aid is approved by the Board of Trustees. The Head of School approves all individual financial aid recipients. X 1 0 X X X X X 0 0 0 0 0 0 0 0 0 John C Warren 238410 0 0 0 0 0 0 0 44421 0 282831 0 0 0 Kirk I Swenson 206544 0 0 0 0 0 0 0 36397 0 242941 0 0 0 Robert D Meyer 158934 0 0 0 0 0 0 0 30630 0 189564 0 0 0 Kenneth J Griffin 133735 0 0 0 0 0 0 0 28540 0 162275 0 0 0 A Massachusetts Development Finance Agency 043431814 2010-08-17 10105000 Finance construction costs 0 0 0 B Massachusetts Development Finance Agency 043431814 2004-08-05 16700000 Finance construction costs 0 0 0 C Massachusetts Development Finance Agency 043431814 2012-09-20 25000000 Refinance / Finance construction costs 0 0 0 A 591525 10105000 139025 9965975 0 0 1 1 B 16700000 16700000 404000 16296000 0 0 1 1 C 12111974 159669 2502305 9450000 0 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 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 1 0 0 0 0 C 0 0 0 0 1 0 0 0 0 A 1 B 1 C 1 X 46 1912078 Market Value 0 0 0 Form 990, Part VI, Section B, line 11 The School's Treasurer, Business Manager and Controller 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 + Co (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 accounting department, plus additional work requested specific to the 990. The Treasurer, Business Manager and Controller performed a detailed review of the completed 990 and reported the results of its review to the Finance Committee. The Finance Committee recommended to the Board of Trustees the approval of the Form 990. The Board of Trustees then voted to approve the Form 990. Form 990, Part VI, Section B, line 12c All members of the Board of Trustees, Committee members, officers and management-level employees are required to disclose annually 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 "Statement Concerning Possible Duality of Interest and Conflict of Interest" at any time during the year that the information requested on the form changes. The administration and maintenance of the "Statement Concerning Possible Duality of Interest and Conflict of Interest" shall be the responsibility of the both the Head of School and the President of the Board of Trustees. Form 990, Part VI, Section B, line 15 The Compensation 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. 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. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 9: Change in Fair Value of Interest Rate Swap 131,548.