2014-11-14T10:39:42-06:00 2014-06-30 420714325 MCGLADREY LLP 80 CITY SQUARE BOSTON MA 021293742 990 2013-07-01 020222227 ST PAUL'S SCHOOL STPA 6032294737 325 PLEASANT STREET CONCORD NH 03301 MICHELLE L CHICOINE CFO 6032294737 2014-11-14 1 JAMES P SWEENEY P01263012 6179129000 2013 2015-11-30 17:44:51Z MICHAEL G HIRSCHFELD 325 PLEASANT STREET CONCORD NH 03301 253420683 0 X WWW.SPS.EDU X 1856 NH ST. PAUL'S SCHOOL IS A COEDUCATIONAL FULLY RESIDENTIAL SCHOOL. (SEE SCHEDULE O)ST. PAUL'S SCHOOL IS A COEDUCATIONAL FULLY RESIDENTIAL SCHOOL FOR GRADES 9 THROUGH 12, FOUNDED IN 1856 AS A PLACE FOR HUMANE BUT RIGOROUS EDUCATION WITHIN A SETTING OF GREAT NATURAL BEAUTY. THE SCHOOL IS LOCATED IN CONCORD, NH, ON A BUCOLIC CAMPUS CONSISTING OF WOODLAND, FIELDS, AND PONDS AND IS HOME TO APPROXIMATELY 535 STUDENTS AND 106 FACULTY MEMBERS. 27 26 482 26 552411 551411 23155197 25178608 27804757 29678015 12513236 23839363 768572 747223 64241762 79443209 8441213 9164555 0 0 25384445 26237284 0 0 4133899 19862720 20735519 53688378 56137358 10553384 23305851 725074261 793334703 73772000 71899696 651302261 721435007 X BELIEVING THAT EDUCATION IS LIFELONG AND CONTINUES BEYOND THE CLASSROOM, ST. PAUL'S SCHOOL INVITES A DIVERSE GROUP OF APPROXIMATELY 535 STUDENTS AND 330 FACULTY AND STAFF MEMBERS TO CREATE AN EXTENDED FAMILY WHICH RESPECTS (SEE SCHEDULE O FOR CONTINUATION) AND NURTURES INDIVIDUAL TALENT, PERSONAL FREEDOM, AND RESPONSIBILITY, INTELLECTUAL CURIOSITY AND PUBLIC SERVICE. STUDENTS ARE ENCOURAGED TO SEEK THE HIGHEST STANDARDS OF SCHOLASTIC, ARTISTIC AND PHYSICAL ACHIEVEMENT THROUGH AN INTEGRATED CURRICULUM. 0 0 47971992 9095600 28655962 ST. PAUL'S SCHOOL'S PRIMARY PROGRAM SERVICE IS THE EDUCATION OF STUDENTS IN GRADES 9 THROUGH 12, IN A COEDUCATIONAL FULLY RESIDENTIAL SCHOOL ENVIRONMENT. THE SCHOOL STRIVES TO BE AN INCLUSIVE, EQUITABLE, AND RICHLY DIVERSE COMMUNITY, ONE THAT IS COMMITTED TO ENSURING EQUAL ACCESS TO OPPORTUNITIES, AS WELL AS PROMOTING INDIVIDUAL GROWTH THROUGH LEARNING ABOUT THE SELF AND THE PERSPECTIVES AND EXPERIENCE OF OTHERS. THE CONCENTRATED ACADEMIC WORK DONE IN COLLABORATION BY THE STUDENTS AND FACULTY AT ST. PAUL'S SCHOOL IS THE HALLMARK OF OUR ACADEMIC PROGRAM. THROUGH THE SCHOOL'S RIGOROUS ACADEMIC STANDARDS, WE ENCOURAGE OUR MOTIVATED STUDENTS TO ATTAIN THE HIGHEST LEVELS OF SCHOLARSHIP AND INTELLECTUAL GROWTH AND DEVELOPMENT. 994846 68955 1063801 ST. PAUL'S SCHOOL FOUNDED THE ADVANCED STUDIES PROGRAM (ASP) IN 1958 TO PROVIDE TALENTED NEW HAMPSHIRE PUBLIC AND PAROCHIAL HIGH SCHOOL RISING SENIORS WITH CHALLENGING EDUCATIONAL OPPORTUNITIES OTHERWISE UNAVAILABLE TO THEM. EACH SUMMER, APPROXIMATELY 260 YOUNG MEN AND WOMEN LIVE ON THE ST. PAUL'S SCHOOL CAMPUS FOR FIVE AND A HALF WEEKS. STUDENTS ARE IMMERSED IN A COLLEGE-LEVEL CURRICULUM AND CHALLENGED TO DISCOVER NEW WAYS OF LEARNING. ASP OFFERS A WIDE VARIETY OF COURSES FROM SHAKESPEARE TO ASTRONOMY, WHICH THOROUGHLY EXPLORE TOPICS IN SEVERAL DISCIPLINES. IN THEIR TIME AT ASP, STUDENTS BECOME IMMERSED IN THEIR SUBJECT OF CHOICE, SETTING THEM UP FOR A LIFELONG UNDERSTANDING OF THE MATERIAL. (SEE SCHEDULE O FOR CONTINUATION) ADDITIONALLY, ALL ASP STUDENTS HAVE AN OPPORTUNITY TO ENHANCE THEIR WRITING SKILLS THROUGH COMPULSORY INTERACTIVE WRITING WORKSHOPS. 48966838 1 1 0 1 0 1 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 0 0 1 X 266 0 1 482 1 1 0 0 0 0 0 0 0 0 0 0 0 0 X 27 26 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH X X DEBORAH J BRANN CONTROLLER 6032294737 325 PLEASANT STREET CONCORD NH 03301 DR LAUREL D ABBRUZZESE TRUSTEE 3.00 X 0 0 0 MR REX W BATES TRUSTEE 3.00 X 0 0 0 MR WILLIAM J BENNINGTON TRUSTEE 3.00 X 0 0 0 MR E PEROT BISSELL IV TRUSTEE 3.00 X 0 0 0 MRS EMILY L BOGLE TRUSTEE 3.00 X 0 0 0 MRS CANDACE E BROWNING-PLATT TRUSTEE 3.00 X 0 0 0 THE REV PETER G CHENEY TRUSTEE 3.00 X 0 0 0 MR HYUN-JOON CHO TRUSTEE 3.00 X 0 0 0 MR ARCHIBALD COX JR TRUSTEE 3.00 X 0 0 0 MR JAMES A DIAMOND TRUSTEE 3.00 X 0 0 0 MR JAMES M FRATES TREASURER 3.00 X X 0 0 0 MS SABRINA WING-YEE FUNG TRUSTEE 3.00 X 0 0 0 MS CATHERINE A GELLERT TRUSTEE 3.00 X 0 0 0 MR CHRISTOPHER D HEINZ TRUSTEE 3.00 X 0 0 0 MS LUCY C HODDER TRUSTEE 3.00 X 0 0 0 MR JAMES DEK HOUGHTON TRUSTEE 3.00 X 0 0 0 MR PHILIP L LAIRD TRUSTEE 3.00 X 0 0 0 MR JOHN A LECHNER TRUSTEE 3.00 X 0 0 0 MS JANICE YK LEE TRUSTEE 3.00 X 0 0 0 MR VICTOR M LOPEZ-BALBOA TRUSTEE 3.00 X 0 0 0 MRS SARAH BANKSON NEWTON TRUSTEE 3.00 X 0 0 0 MR SAMUEL S REID TRUSTEE 3.00 X 0 0 0 MR DOUGLAS SCHLOSS PRESIDENT 3.00 X X 0 0 0 MR JAMES M WATERBURY JR CLERK 3.00 X X 0 0 0 MR REEVE B WAUD TRUSTEE 3.00 X 0 0 0 VICTOR C YOUNG TRUSTEE 3.00 X 0 0 0 WILLIAM R MATTHEWS JR FORMER RECTOR 3.00 X 112111 0 22496 MICHAEL G HIRSCHFELD RECTOR 60.00 X X 355406 0 176438 MICHELLE L CHICOINE VR FOR OPERATIONS & FINANCE 50.00 X 270558 0 63097 WILLIAM L KISSICK DIR. OF ALUMNI & DEVELOPMENT 50.00 X 211203 0 36862 DR JOHN C BASSI MEDICAL DIRECTOR 50.00 X 188969 0 99867 WILLIAM F MITCHELL DIRECTOR OF CAPITAL GIVING 50.00 X 142488 0 34112 JADA L HEBRA VICE RECTOR FOR FACULTY 50.00 X 133448 0 113718 ROBERT H RETTEW EXEC. DIR. ALUMNI ASSN DEVELOPMENT 50.00 X 131284 0 72032 DEBORAH J BRANN CONTROLLER 50.00 X 124492 0 38025 1669959 0 656647 18 1 1 0 CAMBRIDGE ASSOCIATES INC 100 SUMMER ST BOSTON MA 021102112 INVESTMENT CONSULTANT 287337 JOHN BRYANT BISBEE 9300 COLLEGE STATION BRUNSWICK ME 04011 ARTIST 175000 BANK OF NEW YORKMELLON 135 SANTILLI HIGHWAY EVERETT MA 02149 INVESTMENT CUSTODIAN 121677 SIMPSON GUMPERTZ & HEGER INC 41 SEYON STREET WALTHAM MA 02453 ENGINEERING CONSULTANT 110437 MARK A EDWARDS & COMPANY INC 75 GARDNER ROAD BROOKLINE MA 02445 PUBLIC RELATIONS 103425 5 25178608 2118604 25178608 TUITION & FEES 611710 29678015 29678015 29678015 2042851 2042851 9500 0 9500 9500 9500 195597779 2792 173483438 320621 22114341 -317829 21796512 552411 21244101 213698 173415 40283 40283 CHILDREN'S LEARNING CT 624410 655692 655692 MISCELLANEOUS REVENUE 900099 41748 41748 697440 79443209 29719763 552411 23992427 9164555 9164555 995002 438799 213401 342802 139617 5010 37111 97496 18295445 15425360 979698 1890387 2277619 1913842 134632 229145 3159904 2600709 213505 345690 1369697 1144258 79567 145872 75457 75457 103860 103860 418732 418732 128897 86457 42440 233316 169599 17189 46528 556514 242902 62961 250651 653212 547836 80980 24396 4455706 4415172 19454 21080 714447 468034 24491 221922 52485 35210 15979 1296 1932440 1835818 19324 77298 6628034 6295905 66426 265703 716922 390200 310205 16517 SUPPLIES FOR PROGRAMS 1711729 1711729 EDU SUPPORT FOR PROGRAM 1412157 1412157 ENTERTAINMENT/SPEC EVNT 733195 566532 66036 100627 DUES AND MEMBERSHIPS 208416 183211 11156 14049 56137358 48966838 3036621 4133899 2246981 2742673 31972085 32951026 309493 167474 1729619 2011327 253308092 68061222 185138867 185246870 54925446 81901435 436564324 478110877 12187446 10203021 725074261 793334703 4486058 3959427 54775063 54618775 14510879 13321494 73772000 71899696 X 260647678 277994469 242927469 276849346 147727114 166591192 651302261 721435007 725074261 793334703 X 23305851 44914536 1912359 X 0 1 X 1 0 X PART I, REASON FOR PUBLIC CHARITY STATUS: THE SCHOOL HISTORICALLY HAS USED THE GREATER THAN $5,000 OR 2% RULE IN REPORTING CONTRIBUTORS IN COMPLIANCE WITH THE SCHEDULE B INSTRUCTIONS. DUE TO THE BROAD NATURE OF SUPPORT, THE SCHOOL MEETS THE PUBLIC SUPPORT TEST UNDER CURRENT GUIDANCE AND THEREFORE QUALIFIES FOR THE SPECIAL RULE UNDER SECTION 509(A)(1) FOR SCHEDULE B REPORTING. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 21906 21906 0 PART II-B, LINE 1: ST. PAUL'S SCHOOL IS A MEMBER OF A NUMBER OF ASSOCIATIONS SUCH AS THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS, COUNCIL OF ADVANCEMENT AND SUPPORT OF EDUCATION, THE NATIONAL ASSOCIATION OF COLLEGE & UNIVERSITY BUSINESS OFFICERS AND THE COALITION FOR RESIDENTIAL EDUCATION, WHICH MAY USE A PORTION OF MEMBERSHIP DUES TO LOBBY ON BEHALF OF ITS MEMBERS. ST. PAUL'S SCHOOL ALSO PAID RATH, YOUNG AND PIGNATELLI FOR LEGAL SERVICES REGARDING LEGISLATIVE ISSUES AS PART OF A GROUP OF NEW HAMPSHIRE INDEPENDENT SCHOOLS. TOTAL DUES AND FEES PAID TO THESE TYPES OF ORGANIZATIONS WAS $21,906 IN FISCAL YEAR 2014. THE PORTION OF DUES AND FEES ALLOCATED TO LOBBYING ACTIVITIES IS NOT DETERMINABLE. 1 0 245264 5086901 0 0 483836757 20006809 68273408 3952558 15783872 415309 551965235 432930343 11684799 58407783 3684190 15038489 463489 483836757 440968798 10001733 -102251 3421917 14125000 391020 432930343 381381552 14074366 62509390 3242650 13370365 383495 440968798 346020647 6547171 45986761 2919625 13853902 399500 381381552 0.29000 0.71000 0.00000 1 0 4697490 4697490 217904529 52207774 165696755 22935342 12833627 10101715 7770731 3019821 4750910 185246870 US EQUITY 86839345 F INTERNATIONAL EQUITY 111084748 F MARKETABLE ALTERNATIVES 171899994 F NON-MARKETABLE ALTERNATIVES 60396874 F INFLATION HEDGING 47889916 F 478110877 ADVANCE DEPOSITS 2736974 LIABILITIES UNDER SPLIT INTEREST AGREEMENTS 3349420 INTEREST RATE SWAP AGREEMENT 7235100 13321494 X 136276003 44914536 12400534 57315070 78960933 482276 482276 79443209 66143257 20244878 20244878 45898379 418732 9820247 10238979 56137358 PART I, LINE 5 & 6: THE SCHOOL HAS NO DONOR ADVISED FUNDS. PART V, LINE 4: THE SCHOOL'S ENDOWMENT FUNDS ARE USED IN PERPETUITY TO FUND THE SPS PROGRAMS. THE PRINCIPAL IS INVESTED FOR LONG-TERM GROWTH TO PRESERVE THE PURCHASING POWER OF THE ENDOWMENT ASSETS FOR THE USE OF PRESENT AND FUTURE GENERATIONS OF STUDENTS. PART X, LINE 2: THE SCHOOL FOLLOWS FASB ASC 740, INCOME TAXES, REGARDING ACCOUNTING FOR UNCERTAINTY IN 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 SCHOOL HAS NO MATERIAL UNCERTAINTIES IN INCOME TAXES. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID: -9,164,555 SPENDING POLICY: 19,736,430 ACTUARIAL ADJUSTMENT: 2,247,391 INVESTMENT FEES: -418,732 TOTAL: $12,400,534 PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD: -173,416 CHILDREN'S LEARNING CENTER REVENUE: 655,692 TOTAL: $482,276 PART XII, LINE 2D - OTHER ADJUSTMENTS: SPENDING POLICY: 19,736,430 COST OF GOODS SOLD: 173,416 UNREALIZED LOSS ON INTEREST RATE SWAP: 335,032 TOTAL: $20,244,878 PART XII, LINE 4B - OTHER ADJUSTMENTS: CHILDREN'S LEARNING CENTER EXPENSES: 665,692 FINANCIAL AID: 9,164,555 TOTAL: $9,820,247 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 OUR POLICY IS PUBLISHED ANNUALLY IN A REGIONAL NEWSPAPER, INCLUDED IN ALL PROSPECTIVE STUDENT LITERATURE AND DISTRIBUTED TO STUDENTS IN OUR STUDENT HANDBOOK. THE POLICY IS ALSO NOTED ON OUR WEBSITE, AND IS INCLUDED WITH ALL EMPLOYMENT ADVERTISEMENTS INCLUDED IN NEWSPAPERS OR OTHER PUBLICATIONS. SCHEDULE E, PART I, LINE 6 MONIES RECEIVED ARE FROM VARIOUS FEDERAL OR STATE FOOD SUBSIDY PROGRAMS. EAST ASIA AND THE PACIFIC FUNDRAISING N/A 42453 EUROPE FUNDRAISING N/A 10887 NORTH AMERICA FUNDRAISING N/A 390 CENTRAL AMERICA & THE CARIBBEAN PROGRAM SERVICES PROGRAM SERVICES (SEE PART V) 36350 EAST ASIA AND THE PACIFIC PROGRAM SERVICES PROGRAM SERVICES (SEE PART V) 27061 EUROPE PROGRAM SERVICES PROGRAM SERVICES (SEE PART V) 121308 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES PROGRAM SERVICES (SEE PART V) 2202 NORTH AMERICA PROGRAM SERVICES PROGRAM SERVICES(SEE PART V) 6959 SOUTH ASIA PROGRAM SERVICES PROGRAM SERVICES(SEE PART V) 2642 CENTRAL AMERICA & THE CARIBBEAN INVESTMENTS N/A 229244192 EUROPE INVESTMENTS N/A 14936903 0 0 0 0 0 0 247610 244183737 244431347 1 0 1 1 1 0 PART I, LINE 3, COLUMN (E): REGIONS: CENTRAL AMERICA AND THE CARIBBEAN, EAST ASIA AND THE PACIFIC, EUROPE, NORTH AMERICA, MIDDLE EAST AND NORTH AFRICA, AND SOUTH ASIA. (E) SPECIFIC TYPES OF SERVICES IN REGION: PROGRAM SERVICE ACTIVITIES INCLUDE ADMISSION AND COLLEGE ADVISING TRAVEL, FACULTY PROFESSIONAL DEVELOPMENT, AND OFF-CAMPUS PROGRAM STUDENT TRIPS. 1 FINANCIAL AID ASSISTANCE TO ATTEND ST. PAUL'S SCHOOL 200 9164555 FAIR MARKET VALUE FINANCIAL AID ASSISTANCE AWARDED TO ATTEND ST. PAUL'S SCHOOL PART I, LINE 2: ANY STUDENT OR APPLICANT REQUESTING FINANCIAL AID FROM ST. PAUL'S SCHOOL MUST COMPLETE THE PERSONAL FINANCIAL STATEMENT (PFS) OFFERED BY THE SCHOOL AND STUDENT SERVICES - NAIS, AS WELL AS PROVIDE COPIES OF RECENT TAX INFORMATION BY A SPECIFIED DEADLINE. THE SCHOOL'S DIRECTOR OF FINANCIAL AID EVALUATES ALL APPLICATIONS USING BOTH THE PFS FORMULA AND INSTITUTIONAL POLICY TO DETERMINE THE FINANCIAL NEED OF EACH APPLICANT. STUDENTS WHO ARE DETERMINED TO HAVE FINANCIAL NEEDS ARE AWARDED GRANT FUNDS TO MEET 100% OF THEIR DETERMINED NEED. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 1 1 WILLIAM R MATTHEWS JR FORMER RECTOR 0 0 0 0 112111 0 17681 0 4815 0 134607 0 46542 0 MICHAEL G HIRSCHFELD RECTOR 355316 0 0 0 90 0 30600 0 145838 0 531844 0 0 0 MICHELLE L CHICOINE VR FOR OPERATIONS & FINANCE 270300 0 0 0 258 0 30600 0 32497 0 333655 0 0 0 WILLIAM L KISSICK DIR. OF ALUMNI & DEVELOPMENT 210945 0 0 0 258 0 25728 0 11134 0 248065 0 0 0 DR JOHN C BASSI MEDICAL DIRECTOR 182969 0 0 0 6000 0 22796 0 77071 0 288836 0 0 0 WILLIAM F MITCHELL DIRECTOR OF CAPITAL GIVING 142398 0 0 0 90 0 17779 0 16333 0 176600 0 0 0 JADA L HEBRA VICE RECTOR FOR FACULTY 133358 0 0 0 90 0 16800 0 96918 0 247166 0 0 0 ROBERT H RETTEW EXEC. DIR. ALUMNI ASSN DEVELOPMENT 130888 0 0 0 396 0 16660 0 55372 0 203316 0 0 0 DEBORAH J BRANN CONTROLLER 124234 0 0 0 258 0 15692 0 22333 0 162517 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - NONTAXABLE TRAVEL EXPENSES UNDER THE SCHOOL'S ACCOUNTABLE PLAN INCURRED FOR BONA FIDE BUSINESS PURPOSES ON BEHALF OF A FAMILY MEMBER OF MICHAEL G. HIRSCHFELD WERE PAID BY THE SCHOOL. HOUSING ALLOWANCE - ST. PAUL'S SCHOOL IS A COEDUCATIONAL FULLY RESIDENTIAL SCHOOL. AS A REQUIREMENT OF EMPLOYMENT, ALL FACULTY MEMBERS MUST LIVE ON CAMPUS AND ARE PROVIDED NONTAXABLE HOUSING BY THE SCHOOL. LISTED EMPLOYEES WHO RECEIVED SCHOOL HOUSING ARE AS FOLLOWS: - MR. MICHAEL G. HIRSCHFELD - $28,800 - MS. MICHELLE L. CHICOINE - $28,800 - DR. JOHN C. BASSI - $28,800 - MS. JADA L. HEBRA - $28,800 - MR. ROBERT H. RETTEW - $28,800 PART I, LINE 8 MR. HIRSCHFELD'S EMPLOYMENT CONTRACT CONTAINS A FIXED SALARY PAYMENT WHICH WOULD BE SUBJECT TO THE INITIAL CONTRACT EXCEPTION. MR. HIRSCHFELD WAS NOT A DISQUALIFIED PERSON PRIOR TO ENTERING THE CONTRACT AS THE NEW RECTOR. A NHHEFA REVENUE BONDS ST PAUL'S SCHOOL 020279866 644614G45 2010-09-30 15217879 SEE PART VI 0 0 0 A 15217879 213618 15004261 2012 0 0 1 1 A 0 0 0 0 0 0 1 A 0 0 1 0 0 0 1 NATIXIS FUNDING CORP 1.166666700000 1 0 1 A 0 SCHEDULE K, PART I, COLUMN (F): CONSTRUCTION AND/OR RENOVATION OF SCHOOL FACILITIES. UNITED EDUCATORS SEE PART V 240950 SEE PART V 0 PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAMES OF INTERESTED PERSON: UNITED EDUCATORS (B) RELATIONSHIP BETWEEN INTERESTED PERSON AND THE ORGANIZATION: OFFICER, MICHELLE L. CHICOINE, SERVES AS A DIRECTOR (C) AMOUNT OF TRANSACTION: $240,950(D) DESCRIPTION OF TRANSACTION: INSURANCE PREMIUMS PAID BY ORGANIZATION(E) SHARING OF ORGANIZATION'S REVENUES? NO X 1 0 X 142 2117139 MARKET VALUE X JIGSAW PUZZLE 13 1465 MARKET VALUE 0 1 1 PART I, COLUMN (B): THE SCHOOL IS REPORTING THE NUMBER OF CONTRIBUTIONS OF SECURITIES BASED ON THE NUMBER OF GIFTS RECEIVED. THE NUMBER OF OTHER CONTRIBUTIONS IS BASED ON THE NUMBER OF DONATIONS. PART I, LINE 32B: ALL STOCK GIFTS ARE RECEIVED, PROCESSED AND SOLD BY THE SCHOOL'S CUSTODIAN BANK. PART I, LINE 33: THE SCHOOL DOES NOT CAPITALIZE ITS COLLECTIONS OF ARTWORK AS ALLOWED UNDER SFAS 116 (ASC 958-360-25). FORM 990, PART V, LINE 3B ST. PAUL'S HAS FILED FORM 8868, APPLICATION FOR EXTENSION OF TIME TO FILE AN EXEMPT ORGANIZATION RETURN, TO REQUEST AN EXTENSION FOR FORM 990-T FOR THE TAX YEAR ENDING JUNE 30, 2014. FORM 990, PART VI, SECTION A, LINE 6 THE SCHOOL'S GOVERNING BODY CONSISTED OF TRUSTEES WHO HAVE THE RIGHT TO PARTICIPATE IN THE SCHOOL'S GOVERNANCE. ALL TRUSTEES HAVE THE SAME VOTING RIGHTS. THE FULL BOARD OF TRUSTEES MUST VOTE ON THE REMOVAL OF TRUSTEES OR THE HIRING OR FIRING OF THE RECTOR OR DISSOLUTION OF THE SCHOOL. THE FULL BOARD APPROVES SIGNIFICANT DECISIONS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7A CERTAIN DESIGNEES OF THE ALUMNI AND PARENTS ASSOCIATIONS SERVE AS MEMBERS OF THE BOARD OF TRUSTEES OF ST. PAUL'S SCHOOL AND HAVE THE SAME AUTHORITY AS OTHER ELECTED MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS PREPARED BY THE SCHOOL'S CONTROLLER AND REVIEWED BY THE CHIEF FINANCIAL OFFICER AS WELL AS THE SCHOOL'S OUTSIDE TAX FIRM PRIOR TO BEING PRESENTED TO THE AUDIT COMMITTEE. AN AUDIT COMMITTEE MEETING WAS HELD PRIOR TO THE FILING OF THE FORM 990. AT THIS TIME, THE FORM 990 WAS REVIEWED IN DETAIL AND APPROVED FOR SUBMISSION TO THE INTERNAL REVENUE SERVICE. PRIOR TO THE FINAL FORM BEING ELECTRONICALLY SUBMITTED TO THE INTERNAL REVENUE SERVICE A COPY WAS PROVIDED TO ALL THE MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C ST. PAUL'S SCHOOL MAINTAINS A WRITTEN CONFLICT OF INTEREST POLICY THAT IS INCLUDED IN THE SCHOOL'S POLICIES AND PROCEDURES MANUAL WHICH IS UPDATED AND DISSEMINATED TO ALL EMPLOYEES AND TRUSTEES ANNUALLY AND IS INCLUDED ON THE SCHOOL'S INTRANET. AT THE START OF EACH FISCAL YEAR, THE CHIEF FINANCIAL OFFICER OF THE SCHOOL REQUIRES THAT EACH TRUSTEE, OFFICER, AND KEY EMPLOYEE COMPLETES A CONFLICT OF INTEREST DISCLOSURE FORM. ANY CONFLICTS IDENTIFIED BY THE CONFLICT OF INTEREST DISCLOSURE FORM ARE SUMMARIZED IN A REPORT TO THE PRESIDENT OF THE BOARD OF TRUSTEES AND THE CHAIR OF THE TRUSTEES & GOVERNANCE COMMITTEE. THE BOARD OF TRUSTEES IS NOTIFIED OF ANY CONFLICTS AND ACTION, IF NECESSARY, IS TAKEN BY THE TRUSTEES. AT THE CONCLUSION OF THE FISCAL YEAR, PRIOR TO THE SUBMISSION OF THE FORM 990, A GOVERNING BODY MEMBER ANNUAL QUESTIONNAIRE IS PROVIDED TO EACH TRUSTEE, OFFICER AND/OR KEY EMPLOYEE. THIS QUESTIONNAIRE REQUIRES THE DISCLOSURE OF ANY CONFLICTS OF INTEREST THAT MAY HAVE EXISTED DURING THE PRIOR FISCAL YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE, CONSISTING SOLELY OF OUTSIDE DIRECTORS, IS RESPONSIBLE FOR ADMINISTERING THE COMPENSATION OF THE RECTOR AND ANY OTHER OFFICERS AND KEY EMPLOYEES. THE COMMITTEE MEETS APPROXIMATELY THREE TIMES A YEAR TO: 1. SET GOALS FOR THE RECTOR. 2. DETERMINE WHAT, IF ANY, OUTSIDE RESOURCES ARE NECESSARY TO SET APPROPRIATE COMPENSATION IN THAT YEAR. 3. HIRE ANY NECESSARY OUTSIDE CONSULTANTS. 4. REVIEW AND SET COMPENSATION BY A REVIEW OF COMPARABLE OUTSIDE DATA INCLUDING 990 AND PEER SCHOOL INFORMATION. 5. REVIEW THE RECTOR'S PERFORMANCE. 6. AMEND, IF NECESSARY, THE RECTOR'S EMPLOYMENT CONTRACT. 7. SET COMPENSATION FOR RECTOR, OTHER OFFICERS AND KEY EMPLOYEES. 8. REVIEW AND APPROVE THE MINUTES OF THE PREVIOUS COMPENSATION COMMITTEE MEETING. THE COMPENSATION COMMITTEE REPORTS ON ITS MEETINGS TO THE FULL BOARD OF TRUSTEES AND THE ACTIONS OF THE COMPENSATION COMMITTEE ARE RATIFIED AT THE NEXT MEETING OF THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 ST. PAUL'S SCHOOL MAKES AVAILABLE TO THE PUBLIC VIA ITS WEBSITE THE FOLLOWING GOVERNING DOCUMENTS: - BY-LAWS - INTERNAL REVENUE SERVICE TAX DETERMINATION LETTER - FILED FORM 990 FOR THE THREE MOST RECENT FISCAL YEARS - BOARD OF TRUSTEE COMMITTEE CHARTERS IN ADDITION, ST. PAUL'S SCHOOL MAKES THE AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE SCHOOL COMMUNITY (EMPLOYEES, PARENTS AND ALUMNI) VIA OUR SECURED PASSWORD PROTECTED WEBSITE. FORM 990, PART XI, LINE 9: UNREALIZED LOSS ON INTEREST RATE SWAP -335,032. ACTUARIAL ADJUSTMENT 2,247,391. ST PAUL'S SCHOOL - E BURKE ROSS JR NEW JERSEY FINANCIAL AID FUND LLC 172 SOUTH OCEAN BLVD PALM BEACH FL 33480 161673430 FINANCIAL AID FUND NJ 369563 5086901 ST PAUL'S SCHOOL CHARITABLE REMAINDER TRUST (7) CHARITABLE TRUST NH ST PAUL'S SCHOOL 1 POOLED INCOME FUND (1) CHARITABLE TRUST NH ST PAUL'S SCHOOL 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 CHARITABLE REMAINDER TRUST (1) S 3524199 FAIR VALUE