2013-05-14T08:03:22-05:00 2012-06-30 271728945 O'CONNOR DAVIES LLP ONE STAMFORD LANDING STAMFORD CT 06902 990 2011-07-01 060662125 THE FAIRFIELD COUNTRY DAY SCHOOL CORPORATION FAIR 2032592723 2970 BRONSON ROAD FAIRFIELD CT 06430 OFFICER 2032592723 2013-05-10 1 BRUCE BLASNIK P00733345 2033232400 2013-05-09 2011 2016-02-25 16:41:14Z MAUREEN BARTOLOMEO 2970 BRONSON ROAD FAIRFIELD CT 06430 12255436 0 X WWW.FAIRFIELDCOUNTRYDAY.ORG X 1936 CT ELEMENTARY SCHOOL EDUCATION 21 21 150 0 0 0 1078283 2629508 8162520 8132335 330994 190103 10028 822 9581825 10952768 941900 889600 0 0 4911438 5009056 69750 197500 778150 3201873 3384416 9124961 9480572 456864 1472196 22183385 22502245 3968830 3067724 18214555 19434521 X THE FAIRFIELD COUNTRY DAY SCHOOL CORPORATION (THE "SCHOOL") WAS FORMED IN 1936 TO EDUCATE BOYS IN SOUTHWESTERN CONNECTICUT FROM KINDERGARTEN THROUGH NINTH GRADE. THE SCHOOL PROVIDES AN EDUCATIONAL COMMUNITY DEDICATED TO THE PERSONAL GROWTH AND INTELLECTUAL DEVELOPMENT OF BOYS. A BALANCED AND CHALLENGING PROGRAM IS DESIGNED TO HELP EACH STUDENT EXPAND HIS DESIRE AND ABILITY TO ACQUIRE KNOWLEDGE, STIMULATE HIS CURIOSITY AND CREATIVITY, AND ENHANCE HIS SELF-ESTEEM AND RESPECT FOR OTHERS. EACH BOY'S INDIVIDUAL DEVELOPMENT IS ENCOURAGED IN AN ENVIRONMENT THAT ANTICIPATES THE FUTURE WHILE APPRECIATING THE PAST. 0 0 7662469 889600 8132335 K THRU NINTH GRADE EDUCATION OF APPROXIMATELY 254 STUDENTS.GRANTS AND ALLOCATIONS IN THE FORM OF FINANCIAL AID TO STUDENTS IN NEED. 7662469 1 1 0 0 0 0 1 0 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 26 0 1 150 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CT X X MAUREEN BARTOLOMEO 2032592723 2970 BRONSON ROAD FAIRFIELD CT 06430 JAMES D HAAS 4.00 X X 0 0 0 GERRY PEARCE 4.00 X X 0 0 0 MARK BEAUDOIN 4.00 X X 0 0 0 ELIZABETH SOLAZZO 4.00 X X 0 0 0 ALAN B OFFENBERG 1.00 X 0 0 0 BRIAN MCGRATH 1.00 X 0 0 0 CHERYL L BUNDY 1.00 X 0 0 0 DAN ZELSON 1.00 X 0 0 0 FRODE FOSS-SKIFTESVIK 1.00 X 0 0 0 JAMES B VOSE 1.00 X 0 0 0 JAMES CONZELMAN III 1.00 X 0 0 0 JENNIFER POLING 1.00 X 0 0 0 KATHLEEN GARVEY 1.00 X 0 0 0 LAWRENCE G FOLEY 1.00 X 0 0 0 LOUIS COLOSIMO 1.00 X 0 0 0 MICHAEL PALIOTTA 1.00 X 0 0 0 PATRICK J SHAW 1.00 X 0 0 0 SHEILA CLANCY 1.00 X 0 0 0 STEPHANIE B FROST 1.00 X 0 0 0 VIRGINIA CARGILL 1.00 X 0 0 0 JOHN MUNRO 40.00 X 235479 0 74215 MAUREEN M BARTOLOMEO 40.00 X 161539 0 29567 CLIFFORD E PAIGE 40.00 X 132112 0 25858 RICHARD D RUNKEL 40.00 X 123105 0 25432 DEBORAH L SULLINGER 40.00 X 105262 0 23480 757497 0 178552 5 0 1 0 CONNECTICARE INC PO BOX 416191 BOSTON MA 02241 HEALTH INSURANCE 377393 FLIK INTERNATIONAL PO BOX 91337 CHICAGO IL 60693 GROUNDS AND FIELD MAINTENCANCE 354387 ASH CREEK ENTERPRISES 1110 BROADBRIDGE AVE STRATFORD CT 06615 COMPUTER EQUIPMENT AND SERVICE 237457 3 243734 2385774 5548 2629508 TUITION AND FEES 611110 7617845 7617845 SUMMER PROGRAM INCOME 611710 421677 421677 OTHER SCHOOL PROGRAM I 611710 92813 92813 8132335 195535 195535 1076712 1082144 -5432 -5432 -5432 92410 243734 101068 -8658 -8658 128936 119456 9480 9480 10952768 8132335 0 190925 889600 889600 486697 171290 258310 57097 3482778 3049236 209381 224161 269588 240809 16536 12243 463502 414022 28430 21050 306491 273773 18799 13919 20664 20664 197500 197500 43042 43042 218467 165422 37378 15667 259449 27270 232179 767422 608814 158533 75 44055 44055 622301 621138 787 376 40078 40078 25939 25939 944617 938477 4156 1984 103642 103642 AUXILIARY EXPENSES 275140 275140 MISCELLANEOUS EXPENSES 18383 14748 1736 1899 BAD DEBT EXPENSE 1217 1217 9480572 7662469 1039953 778150 1166397 990304 460769 505589 1085508 1943793 73660 75199 235260 0 14309 7731 289142 375545 23093832 10113866 12947097 12979966 5911243 5624118 22183385 22502245 585171 1146767 2532567 1211801 798592 709156 52500 0 3968830 3067724 X 13302648 13226969 2546537 3728767 2365370 2478785 18214555 19434521 22183385 22502245 X 1472196 -252230 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 1.90 0 0 0 1 0 1.00 0 1 6275845 155165 -68625 270217 42392 6049776 5627925 127730 1188200 621788 46222 6275845 5162231 432542 479046 417690 28204 5627925 6343914 976470 -1688316 17875 145419 31636 5437138 0.43000 0.40000 0.17000 0 0 1774732 1774732 18378921 8528793 9850128 698799 585860 112939 1217230 957436 259794 1024150 41777 982373 12979966 10952768 9480572 1472196 -252230 -252230 1219966 9767896 -252230 -252230 10020126 43042 889600 932642 10952768 8547930 0 8547930 43042 889600 932642 9480572 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE SCHOOL'S ENDOWMENT FUNDS CONSIST OF DONOR-RESTRICTED FUNDS ESTABLISHED FOR VARIOUS PURPOSES AS WELL AS BOARD-DESIGNATED FUNDS. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES ARE CLASSIFIED AND REPORTED BASED UPON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE SCHOOL HAS CLASSIFIED ITS BOARD DESIGNATED ENDOWMENT AS UNRESTRICTED NET ASSETS AND ITS DONOR-RESTRICTED ENDOWMENT AS TEMPORARILY OR PERMANENTLY RESTRICTED NET ASSETS IN THE FINANCIAL STATEMENTS. THE BOARD OF TRUSTEES HAS INTERPRETED THE CONNECTICUT UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT ("CUPMIFA") AS REQUIRING THE PRESERVATION OF THE FAIR VALUE OF THE ORIGINAL GIFT AS OF THE GIFT DATE OF THE DONOR-RESTRICTED ENDOWMENT FUNDS ABSENT EXPLICIT DONOR STIPULATIONS TO THE CONTRARY. AS A RESULT OF THIS INTERPRETATION, THE SCHOOL CLASSIFIES AS PERMANENTLY RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF THE GIFTS DONATED TO THE PERMANENT ENDOWMENT (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, AND (C) ACCUMULATIONS TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUNDS ARE CLASSIFIED AS TEMPORARILY RESTRICTED NET ASSETS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY THE SCHOOL IN A MANNER CONSISTENT WITH THE STANDARD PRUDENCE PRESCRIBED BY CUPMIFA. IN ACCORDANCE WITH CUPMIFA, THE SCHOOL CONSIDERS THE VARIOUS FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS INCLUDING THE PURPOSE OF THE SCHOOL AND THE DONOR-RESTRICTED ENDOWMENT FUND, GENERAL ECONOMIC CONDITIONS, THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS AND OTHER SCHOOL RESOURCES. THE SCHOOL HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION EACH YEAR UP TO FIVE PERCENT OF ITS ENDOWMENT FUND'S TOTAL AVERAGE MARKET VALUE OF INVESTMENTS OVER THE THREE YEARS PRECEDING THE FISCAL YEAR IN WHICH THE DISTRIBUTION IS PLANNED. IN ESTABLISHING THIS POLICY, THE SCHOOL CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS ENDOWMENT. ACCORDINGLY, OVER THE LONG TERM, THE SCHOOL EXPECTS THE CURRENT SPENDING POLICY TO ALLOW ITS ENDOWMENT TO GROW. THIS IS CONSISTENT WITH THE SCHOOL'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS HELD IN PERPETUITY OR FOR A SPECIFIED TERM, AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS AND INVESTMENT RETURN. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SCHOOL RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE SCHOOL HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE SCHOOL IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO FISCAL 2009. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 889,600. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 889,600. CONSERVATION EASEMENTS - PART II, LINE 2. THE SCHOOL HAS NOT INCURRED ANY REVENUE OR EXPENSES RELATED TO THE EASEMENT HELD IN THE CURRENT FISCAL YEAR. 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 A DISCLAIMER STATING THAT THE SCHOOL HAS A NON RACIALLY DISCRIMINATORY POLICY IS INCLUDED IN ITS PUBLICITY AND OPEN HOUSE HANDOUT MATERIALS. X X X X X X 1 CCS 451 FIFTH AVENUE NEW YORK NY 10017 STRATEGIC FUNDRAISING CONSULTING, FEASIBILITY STUDIES AND O 0 0 195000 0 195000 CT 75 ANNIVERSARY GALA 336144 243734 92410 12014 10791 56070 7748 14445 336144 243734 92410 12014 10791 56070 7748 14445 101068 -8658 1 SCHOLARSHIPS 32 889600 VALUE OF TUITION REDUCTION OR DIRECT OFFSET OF TUITION PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE SCHOOL GRANTS FINANCIAL AID AWARDS TO STUDENTS WHO DEMONSTRATE FINANCIAL NEED. STUDENTS SEEKING AID ARE REQUIRED TO COMPLETE THE SCHOOL AND STUDENT SERVICES FOR FINANCIAL AID (SSS) APPLICATION. THE SCHOOL USES THE ANALYSIS OF SSS IN DETERMINING THE AMOUNT OF EACH STUDENT'S FINANCIAL AID AWARD. THE STUDENT'S TUITION BILL IS REDUCED BY THE AMOUNT OF THE FINANCIAL AID AWARDED. NO AMOUNTS ARE PAID OUT TO INDIVIDUALS DIRECTLY. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 JOHN MUNRO 235479 0 0 0 0 0 15344 0 58871 0 309694 0 0 0 MAUREEN M BARTOLOMEO 161539 0 0 0 0 0 16936 0 12631 0 191106 0 0 0 CLIFFORD E PAIGE 132112 0 0 0 0 0 13434 0 12424 0 157970 0 0 0 PART I, LINE 1A HOUSING IS PROVIDED TO THE HEADMASTER AS HE IS REQUIRED TO LIVE ON CAMPUS. THE HOUSING BENEFIT IS PART OF HIS NON-TAXABLE COMPENSATION TOTALING $46,000. THIS AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN (D). SUPPLEMENTAL INFORMATION PART III SCHEDULE J, PART II COLUMN D - NONTAXABLE BENEFITS INCLUDE CONTRIBUTIONS TO EMPLOYEE HEALTH AND OTHER BENEFIT PLANS FOR ALL EMPLOYEES. MARGAROT PEARCE HEAD OF MIDDLE SCH WIFE TO A TRUSTEE OF THE SCHOOL AND EMPLOYED BY THE SCHOOL AS A TEACHER 61700 MARGAROT PEARCE, HEAD OF MIDDLE SCHOOL AND TEACHER AT THE SCHOOL IS MARRIED TO GERRY PEARCE, A TRUSTEE OF THE SCHOOL. MARGAROT AS A TEACHER AT THE SCHOOL RECEIVED TUITION REMISSION FOR THEIR TWO SONS FOR THE SCHOOL YEAR 2011-2012. 0 FORM 990, PART VI, SECTION B, LINE 11 FAIRFIELD COUNTRY DAY SCHOOL CIRCULATES AN EMAIL TO ALL TRUSTEES PRIOR TO THE TREASURER SIGNING OFF ON THE FORM 990 OFFERING TRUSTEES THE OPPORTUNITY TO REVIEW THE FORM 990 AT THE BUSINESS OFFICE AT THE SCHOOL. THE TREASURER REVIEWS THE FORM 990 BEFORE FILING AND SIGNING. THERE WERE NO CHANGES TO THE FORM BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C FAIRFIELD COUNTRY DAY SCHOOL HAS A WRITTEN CONFLICT OF INTEREST POLICY IN THE BOARD HANDBOOK. ALL TRUSTEES ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST FORM AT THE BEGINNING OF THE YEAR. THE FORM REQUIRES THE TRUSTEE TO INDICATE ANY POTENTIAL CONFLICTS. IF A CONFLICT IS INDICATED, THE EXECUTIVE COMMITTEE REVIEWS THE POTENTIAL CONFLICT AND DETERMINES ANY RESTRICTIONS ON THE ACTIVITY OR THE BOARD MEMBER'S PARTICIPATION. FORM 990, PART VI, SECTION B, LINE 15 FAIRFIELD COUNTRY DAY SCHOOL UTILIZES THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL STATISTIC REPORTS FOR HEADMASTER AND BUSINESS MANAGER COMPENSATION SETTING. EVERY YEAR DATA IS ANALYZED RELATIVE TO PEER SCHOOL COMPENSATION PACKAGES BEFORE COMPENSATION IS SET FOR THESE TWO POSITIONS. THE EXECUTIVE COMMITTEE SETS THESE SALARIES. THIS PROCESS TAKES PLACE EVERY YEAR IN MAY, LAST DONE IN MAY 2012. FORM 990, PART VI, SECTION C, LINE 19 FAIRFIELD COUNTRY DAY SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -252,230. OVERSIGHT OF THE AUDIT FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR.