2013-02-14T13:28:07-06:00 2012-06-30 061009205 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2011-07-01 042103563 TRUSTEES OF DEERFIELD ACADEMY TRUS 4137740241 PO BOX 87 DEERFIELD MA 013420087 KEITH FINAN 4137740241 2013-02-14 1 ELIZABETH SOLECKI P00235171 8605614000 2011 2016-03-07 17:11:31Z KEITH FINAN PO BOX 87 DEERFIELD MA 013420087 139294712 0 X WWW.DEERFIELD.EDU X 1797 MA DEERFIELD ACADEMY IS AN INDEPENDENT SECONDARY SCHOOL COMMITTED TO HIGH STANDARDS OF SCHOLARSHIP, CITIZENSHIP, AND PERSONAL RESPONSIBILITY. THROUGH A RIGOROUS LIBERAL ARTS CURRICULUM, EXTENSIVE CO-CURRICULAR PROGRAM, AND SUPPORTIVE RESIDENTIAL ENVIRONMENT, DEERFIELD ENCOURAGES EACH STUDENT TO DEVELOP AN INQUISITIVE AND CREATIVE MIND, SOUND BODY, AND STRONG MORAL CHARACTER. 30 27 614 821 1229994 845021 33514329 37502768 28680146 29345048 9611757 8998316 624615 697026 72430847 76543158 6621386 7123918 0 0 24714034 24984125 157333 42451 5929521 21066425 20999877 52559178 53150371 19871669 23392787 573685197 602535342 52563540 54794546 521121657 547740796 X DEERFIELD ACADEMY IS AN INDEPENDENT SECONDARY SCHOOL COMMITTED TO HIGH STANDARDS OF SCHOLARSHIP, CITIZENSHIP, AND PERSONAL RESPONSIBILITY. THROUGH A RIGOROUS LIBERAL ARTS CURRICULUM, EXTENSIVE CO-CURRICULAR PROGRAM, AND SUPPORTIVE RESIDENTIAL ENVIRONMENT, DEERFIELD ENCOURAGES EACH STUDENT TO DEVELOP AN INQUISITIVE AND CREATIVE MIND, SOUND BODY, AND STRONG MORAL CHARACTER. 0 0 39357571 6891041 29345048 DURING THE 2011-2012 ACADEMIC YEAR, 554 BOARDING AND 78 DAY STUDENTS WERE ENROLLED AT DEERFIELD ACADEMY. OUR PROGRAMS OF SECONDARY EDUCATION, (GRADES 9-12), INCLUDE THE DEVELOPMENT OF OUR STUDENTS' ACADEMIC AND SCHOLARSHIP SKILLS, CITIZENSHIP AND CHARACTER. COMMUNITY SERVICE, ATHLETIC PROGRAMS AND EXTRA-CURRICULAR ACTIVITIES ARE INTEGRATED AS A PART OF THE SCHOOL'S LONGSTANDING INTELLECTUAL AND MORAL TRADITION. 39357571 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 51 0 1 614 1 1 1 0 0 0 0 0 0 0 0 0 X 30 27 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MA X GREG ROLLAND CONTROLLER 4137741412 DEERFIELD ACADEMY DEERFIELD MA 013420087 BRADDOCK CARRIE 2.00 X 0 0 0 BRONFMAN SAMUEL 2.00 X 0 0 0 CASHIN LISA 2.00 X 0 0 0 CHO TAY 2.00 X 0 0 0 COHEN H RODGIN 5.00 X X 0 0 0 COWAN RORY J 2.00 X 0 0 0 CURTIS MARGARITA O'BYRNE 60.00 X X 360319 0 148684 GROSSMAN MATTHEW 2.00 X 0 0 0 EVANS SIDNEY H 2.00 X 0 0 0 HAVENS JOHN 2.00 X 0 0 0 GREER PHILIP 8.00 X X 0 0 0 GROSSMAN ROBIN 5.00 X X 0 0 0 BEWKES JEFF 2.00 X 0 0 0 DENUNZIO DAVID 2.00 X 0 0 0 HESS JOHN B 2.00 X 0 0 0 KLEINER DIANA E 2.00 X 0 0 0 KNIGHT GORDON 2.00 X 0 0 0 ROBERTSON J SPENCER 2.00 X 0 0 0 MCENIRY ROGER S 2.00 X 0 0 0 FARMER KATHERINE 2.00 X 0 0 0 MATTOON ROBERT 2.00 X 0 0 0 STRANDBERG DIANA S 2.00 X X 0 0 0 STROTHMAN WENDY J 2.00 X 0 0 0 TERRY LUTHER 2.00 X 0 0 0 WHITTON LINDA 2.00 X 0 0 0 WEYMOUTH PHILIP B 2.00 X 0 0 0 WALLACH SUSAN 2.00 X 0 0 0 SIMMONS BRIAN 2.00 X 0 0 0 WRIGHT VICTOR 2.00 X 0 0 0 KOCH DAVID 2.00 X 0 0 0 FINAN KEITH 60.00 X 96673 0 28258 POND DAVID 60.00 X 269467 0 77226 HAGAMEN THOMAS 60.00 X 162616 0 67949 GIMBEL PATRICIA 60.00 X 148672 0 52576 TAYLOR JOHN 60.00 X 152907 0 79945 LYMAN MARTHA 60.00 X 140101 0 23500 ZOLKOS TIMM 60.00 X 141400 0 17254 MANORY JOSEPH 60.00 X 260773 0 45421 1732928 0 540813 17 1 1 0 ARC FIVE CAMBRIDGE CENTER CAMBRIDGE MA 02142 ARCHITECTURAL CONSULTING 976249 GENERATION 55 WASHINGTON STREET 802 BROOKLYN NY 11201 MEDIA & VIDEO PRODUCTION 189585 MONTICELLO ASSOCIATES INC 1800 LARIMER STREET 2100 DENVER CO 80202 INVESTMENT CONSULTING 175000 SUNGARD INC PO BOX 7777-W6825 PHILADELPHIA PA 19175 COMPUTER SOFTWARE SUPPORT 155494 NEW ENGLAND PENSION CONSULTANTS ONE MAIN STREET CAMBRIDGE MA 02142 INVESTMENT CONSULTING 132795 10 37502768 2897322 37502768 TUITION AND FEES 611710 28489170 28489170 AUXILIARY PROGRAMS 611710 692695 692695 SUMMER EDUCATION 611710 163183 163183 29345048 3644978 3644978 67589604 747 62237013 0 5352591 747 5353338 1210508 4142830 941984 514541 427443 427443 OTHER REVENUE 900099 226020 226020 FUNCTION REVENUE 900099 72105 48028 24077 SUMMER SPORTS CAMPS & 713940 59798 59798 -88340 -88340 269583 76543158 29345048 1229994 8465348 232877 232877 6891041 6891041 1057548 72340 854558 130650 203276 50594 152682 17641351 13076641 2116196 2448514 1779430 1314901 210308 254221 2965087 2175810 434967 354310 1337433 955337 208091 174005 126842 126842 99511 99511 42451 42451 849406 849406 283229 37410 104852 140967 902318 458921 223103 220294 1089490 585817 382007 121666 3812910 3528467 236782 47661 662585 226431 142251 293903 418358 172191 122233 123934 1821043 1821043 5266608 4873719 327056 65833 488663 452209 30346 6108 FOOD 1011994 883849 39143 89002 CAPITAL CAMPAIGN 748994 748994 OTHER TAXES 520000 520000 TEXTBOOKS 388365 386283 1665 417 2509561 1161690 681280 666591 53150371 39357571 7863279 5929521 10154 10000 34186768 18415749 28206110 44278619 353098 268767 231311 530465 572411 791739 540975 186640511 35776281 141536113 150864230 193096819 184302927 174178562 202421664 564058 860000 573685197 602535342 4129856 6509408 2307711 2107179 42862323 42753462 3263650 3424497 52563540 54794546 X 213551825 218930844 148360841 160036500 159208991 168773452 521121657 547740796 573685197 602535342 X 23392787 3226352 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 381567404 17246428 10848821 5084125 10276660 849218 393452650 318585485 21769820 59408655 5614078 12012478 570000 381567404 306341192 9090134 15917331 3650561 8446693 665918 318585485 367307114 4267164 -37559313 5759649 21106154 807970 306341192 0.26000 0.43000 0.31000 1 0 643684 643684 159737175 26313160 133424015 18122659 7016626 11106033 8136993 2446495 5690498 150864230 HEDGE FUNDS 127365935 F ALTERNATIVE ASSETS 72968094 F CASH AND CASH EQUIVALENTS 2087635 F 202421664 LIFE INCOME OBLIGATIONS 3424497 3424497 76543158 53150371 23392787 3226352 3226352 26619139 72162493 3226352 -8121558 -4895206 77057699 -514541 -514541 76543158 45543354 514541 514541 45028813 849218 7272340 8121558 53150371 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: FINANCIAL AID, FACULTY SALARIES, PROFESSIONAL DEVELOPMENT, GENERAL OPERATIONS, AND OTHER. PART XII, LINE 2D - OTHER ADJUSTMENTS: GRANTS-FINANCIAL AID -7,090,340. UNRELATED BUSINESS INCOME TAX EXPENSE -182,000. INVESTMENT EXPENSE -849,218. PART XII, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -514,541. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 514,541. PART XIII, LINE 4B - OTHER ADJUSTMENTS: GRANTS-FINANCIAL AID 7,090,340. UNRELATED BUSINESS INCOME TAX EXPENSE 182,000. 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 BY PUBLICATION IN REGIONAL NEWSPAPERS - "THE BOSTON GLOBE". THIS IS DONE ANNUALLY. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 96090421 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 879473 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES FINANCIAL AID FOR STUDY ABROAD 226500 EAST ASIA AND THE PACIFIC 0 0 RECRUITMENT AND DEVELOPMENT 80749 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 RECRUITMENT AND DEVELOPMENT 21422 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES FINANCIAL AID FOR STUDY ABROAD 19500 CENTRAL AMERICA AND THE CARIBBEAN 0 0 RECRUITMENT AND DEVELOPMENT 12494 SOUTH ASIA 0 0 RECRUITMENT AND DEVELOPMENT 2429 NORTH AMERICA 0 0 RECRUITMENT AND DEVELOPMENT 1195 SOUTH AMERICA 0 0 RECRUITMENT AND DEVELOPMENT 920 SUB-SAHARAN AFRICA 0 0 RECRUITMENT AND DEVELOPMENT 793 0 0 0 0 0 0 97332988 2908 97335896 1 0 1 1 1 0 X X X X 1 MARTS & LUNDY 1200 WALL STREET WEST LYNDHURST NJ 07071 CONSULTS ON STRATEGIC COMMUNICATION 0 0 42451 0 GENERATION 55 WASHINGTON STREET 802 BROOKLYN NY 11201 CONSULTS ON STRATEGIC COMMUNICATION 0 0 36298 0 CAVALLARI STEWART 25 MAIN STREET NORTHAMPTON MA 01060 CONSULTS ON STRATEGIC COMMUNICATION 0 0 31000 0 109749 MA 1 TOWN OF DEERFIELD 501(C)(3) 80000 78963 OUT-OF-POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE FIRST CHURCH OF DEERFIELD 501(C)(3) 2000 15495 OUT-OF-POCKET COST HEATING OIL CHARITABLE DEERFIELD AREA FIRE PROTECTION DISTRICT 501(C)(4) 15500 79 OUT-OF-POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE BIG BROTHERSBIG SISTERS OF FRANKLIN COUNTY 501(C)(3) 10000 2729 OUT-OF-POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE SECOND HELPINGS 501(C)(3) 11206 OUT-OF-POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE DEERFIELD ELEMENTARY SCHOOL 501(C)(3) 7622 OUT-OF-POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE FRANKLIN LAND TRUST 501(C)(3) 5000 800 OUT-OF-POCKET COST OUT-OF-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE 6 1 SCHOLARSHIPS 202 6730205 CASH VALUE TUITION & FEES OTHER STUDENT SUPPORT 53 23209 137627 CASH VALUE OTHER STUDENT SUPPORT PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANTS ARE PROVIDED VIA A REDUCTION IN TUITION. X X X 1 1 X X X X X 1 1 0 0 0 0 0 0 0 CURTIS MARGARITA O'BYRNE 345033 0 0 0 15286 0 94865 0 53819 0 509003 0 0 0 POND DAVID 269467 0 0 0 0 0 36311 0 40915 0 346693 0 0 0 HAGAMEN THOMAS 155116 0 0 0 7500 0 21354 0 46595 0 230565 0 0 0 GIMBEL PATRICIA 148672 0 0 0 0 0 18883 0 33693 0 201248 0 0 0 TAYLOR JOHN 152907 0 0 0 0 0 19538 0 60407 0 232852 0 0 0 LYMAN MARTHA 140101 0 0 0 0 0 17813 0 5687 0 163601 0 0 0 ZOLKOS TIMM 141400 0 0 0 0 0 16519 0 735 0 158654 0 0 0 MANORY JOSEPH 80773 0 0 0 180000 0 11433 0 33988 0 306194 0 0 0 PART I, LINE 1A FIRST CLASS TRAVEL IS ALLOWED FOR INTERNATIONAL TRIPS ONLY. CERTAIN PERSONAL SERVICES ARE PROVIDED TO THE HEAD OF SCHOOL AND SPOUSE, TO ASSIST THEM IN FULFILLING THEIR RESPONSIBILITIES AND DUTIES TO THE ACADEMY. THESE POLICIES ARE IN WRITING. EMPLOYEES WHO ARE PROVIDED HOUSING ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. THESE HOMES ARE AVAILABLE FOR HOUSING VISITORS AND FOR OTHER USES DURING SCHOOL SPONSORED EVENTS. PART I, LINE 1B FIRST CLASS TRAVEL IS ALLOWED FOR INTERNATIONAL TRIPS ONLY. CERTAIN PERSONAL SERVICES ARE PROVIDED TO THE HEAD OF SCHOOL AND SPOUSE, TO ASSIST THEM IN FULFILLING THEIR RESPONSIBILITIES AND DUTIES TO THE ACADEMY. THESE POLICIES ARE IN WRITING. PART I, LINES 4A-B THE FORMER CFO RECEIVED SEVERANCE PAYMENTS TOTALING $180,000 DURING CALENDAR YEAR 2011. MARGARITA O'BYRNE CURTIS PARTICIPATES IN A 457(F) PLAN. SEPARATELY, MARGARITA O'BYRNE CURTIS AND DAVID POND HAVE NONQUALIFIED DEFERRED COMPENSATION AGREEMENTS WITH THE ACADEMY. NO PAYMENTS WERE MADE FROM THESE DURING CALENDAR YEAR 2011. MA DEVELOPMENT FINANCE AGENCY 043431814 57583R3N3 2010-11-10 42925825 TO REFUND PRIOR ISSUES DATED 11/1/1997, 6/26/2003, & 7/16/2008. 0 0 0 42925825 40506 42328508 556811 2010 1 1 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 1 0 0 0 0 1 X VARIOUS STUDENT FINANCIAL AID HESS CORP JOHN HESS IS A TRUSTEE OF DEERFIELD AND AN OFFICER OF HESS CORP. 487810 FUEL OIL SUPPLIER TO DEERFIELD 0 MANNING CURTIS SPOUSE OF HEAD OF SCHOOL 37424 EMPLOYMENT 0 SUZANNE MANORY SPOUSE OF FORMER CFO 31317 EMPLOYMENT 0 X 1 20500 APPRAISAL X 106 2876822 MARKET VALUE 1 0 1 1 THIRD PARTY USE: PART I, LINE 32B: DEERFIELD ACADEMY USES A STOCKBROKER TO SELL GIFTS OF PUBLICLY TRADED SECURITIES. FORM 990, PART VI, SECTION A, LINE 7A EXISTING BOARD MEMBERS VOTE IN NEW BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 COPIES OF THIS 2011 FORM 990 WERE SENT TO THE AUDIT COMMITTEE AND THE BOARD PRESIDENT, VICE PRESIDENT AND TREASURER, WHICH REPRESENTS APPROXIMATELY 30% OF THE ENTIRE BOARD. PRIOR TO FILING, A MEETING WITH THE AUDIT COMMITTEE MEMBERS AND MANAGEMENT TOOK PLACE IN ORDER TO REVIEW THE RETURN AND ANSWER ALL QUESTIONS. THIS FORM 990, EXCLUDING SCHEDULE B, WAS PROVIDED TO ALL OTHER MEMBERS OF THE BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BY-LAWS PROHIBIT A TRUSTEE FROM VOTING, APPROVING, OR MAKING A RECOMMENDATION REGARDING A TRANSACTION BETWEEN THE ACADEMY AND AN ENTITY IN WHICH THE INDIVIDUAL OR A MEMBER OF HIS OR HER FAMILY HAS AN OWNERSHIP INTEREST. FORM 990, PART VI, SECTION B, LINE 15A DEERFIELD ACADEMY'S BOARD OF TRUSTEES OVERSEES THE COMPENSATION OF THE ACADEMY'S TOP MANAGEMENT OFFICIALS. HEAD OF SCHOOL - THE PERSONNEL & COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS SALARY AND PERQUISITE DATA FROM OTHER INDEPENDENT SCHOOLS FOR THE POSITION OF HEAD OF SCHOOL TO ENSURE SALARIES ARE REASONABLE AND APPROPRIATE TO THE MARKET. MINUTES OF THE PERSONNEL & COMPENSATION COMMITTEE MEETING ARE MAINTAINED DOCUMENTING THE DISCUSSIONS REGARDING THE SALARY SETTING FOR THE HEAD OF SCHOOL. SENIOR STAFF - THE HEAD OF SCHOOL REVIEWS, IN CONJUNCTION WITH THE PRESIDENT OF THE BOARD, SALARY AND PERQUISITE DATA FROM OTHER INDEPENDENT SCHOOLS FOR OTHER TOP MANAGEMENT OFFICIALS, TO ENSURE SALARIES ARE REASONABLE AND APPROPRIATE TO THE MARKET. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 3,226,352.