2013-02-14T13:02:10-06:00 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 060646786 MISS PORTER'S SCHOOL MISS 8604093500 60 MAIN STREET FARMINGTON CT 060322232 MICHAEL J BERGIN 8604093500 2013-02-14 1 ELIZABETH SOLECKI P00235171 8605614000 2011 2016-03-07 17:11:31Z MICHAEL J BERGIN 60 MAIN STREET FARMINGTON CT 06032 36530413 0 X WWW.PORTERS.ORG X 1943 CT MISS PORTER'S SCHOOL EXCELS AT PREPARING YOUNG WOMEN FOR COLLEGE, FOR LEADERSHIP, AND FOR LIFE. OUR ATTENTIVE, DIVERSE BOARDING AND DAY COMMUNITY PROVIDES A DEMANDING CURRICULUM - ACADEMIC, ARTISTIC, ATHLETIC AND RESIDENTIAL. WE CHALLENGE OUR STUDENTS TO BECOME INFORMED, BOLD, RESOURCEFUL, AND ETHICAL GLOBAL CITIZENS. WE EXPECT OUR GRADUATES TO SHAPE A CHANGING WORLD. 30 29 248 342 144376 -302032 4070616 4440033 13990538 14988552 93111 3127484 332600 351292 18486865 22907361 3711434 3279285 0 0 10435900 10627758 0 0 1652773 8694264 8988794 22841598 22895837 -4354733 11524 141308125 134741718 23265624 22020914 118042501 112720804 X MISS PORTER'S SCHOOL EXCELS AT PREPARING YOUNG WOMEN FOR COLLEGE, FOR LEADERSHIP, AND FOR LIFE. OUR ATTENTIVE, DIVERSE BOARDING AND DAY COMMUNITY PROVIDES A DEMANDING CURRICULUM - ACADEMIC, ARTISTIC, ATHLETIC AND RESIDENTIAL. WE CHALLENGE OUR STUDENTS TO BECOME INFORMED, BOLD, RESOURCEFUL, AND ETHICAL GLOBAL CITIZENS. WE EXPECT OUR GRADUATES TO SHAPE A CHANGING WORLD. 0 0 16326330 3279285 14988552 INDEPENDENT SECONDARY SCHOOL WITH 233 BOARDING STUDENTS AND 110 DAY STUDENTS, 22 SARAH PORTER LEADERSHIP INSTITUTE, 13 JR MODEL UN. 16326330 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 75 0 1 248 1 1 1 1 CJ BD 0 0 0 1 1 0 0 0 0 X 30 29 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X MICHAEL BERGIN 8604093500 60 MAIN STREET FARMINGTON CT 06032 FRASER B BEEDE 5.00 X 0 0 0 JEAN M CHAPIN 1.00 X 0 0 0 MICHAEL J CHESHIRE 3.00 X 0 0 0 HARRY T DANIELS 1.00 X 0 0 0 ANNE MELISSA DOWLING 3.00 X 0 0 0 CLOVER M DRINKWATER 1.00 X 0 0 0 THOMAS DUDECK 3.00 X 0 0 0 JANET I FIELD 1.00 X 0 0 0 JOHN K GREENE 1.00 X 0 0 0 JUDY M HOLDEN 5.00 X 0 0 0 MIMI C KIRK 2.00 X 0 0 0 ELIZABETH M MCLANAHAN 3.00 X 0 0 0 J MICHAEL MCQUADE 2.00 X 0 0 0 DARCY S MAURO 2.00 X 0 0 0 ANNE S NORDEMAN 5.00 X 0 0 0 ADAM ROHDIE 1.00 X 0 0 0 KATRINA W RYAN 1.00 X 0 0 0 BARBARA B SEDORIC 1.00 X 0 0 0 CATHERINE W WELLES 1.00 X 0 0 0 NANCY W WHEELER 3.00 X 0 0 0 KATHERINE G WINDSOR 40.00 X X 313039 0 123057 JOHN C WILCOX 1.00 X 0 0 0 ARIEL M ZWANG 2.00 X 0 0 0 GAIER N PALMISANO 3.00 X 0 0 0 LUCY P CUTTING 1.00 X 0 0 0 BARBARA H EPIFANIO 5.00 X 0 0 0 DONNA HIRES 1.00 X 0 0 0 JEFFREY HIRES 1.00 X 0 0 0 KAREN T STAIB 2.00 X 0 0 0 DIANA TERLATO 1.00 X 0 0 0 ALICE H WILLIAMS 1.00 X 0 0 0 MICHAEL BERGIN 40.00 X 183232 0 59408 JULIA MCCORMACK 40.00 X 186106 0 38238 MELANIE JOSEPH 40.00 X 104388 0 11068 786765 0 231771 4 0 1 0 CONTEMPO RESTORATION LLC 163 LARKSPUR LANE BRISTOL CT 06010 CONSTRUCTION 229258 CAMBRIDGE ASSOCIATES LLC PO BOX 10317 UNIONDALE NY 115550317 FINANCIAL CONSULTANTS 200735 2 24342 4415691 1650668 4440033 TUITION/BOARD 611110 14809807 14809807 STUDENT SERVICES INCOM 611110 150845 150845 SUMMER PROGRAMS 611110 27900 27900 14988552 1339835 1339835 15317368 13529719 1787649 1787649 7883 1779766 0 24342 0 0 80474 93333 -12859 -12859 DAYCARE CENTER 624410 201198 201198 FACILITIES RENTAL 531120 162534 136074 26460 OTHER INVESTMENT INCOM 523000 419 419 364151 22907361 14988552 144376 3334400 3279285 3279285 868400 250747 359290 258363 7218283 5178714 1343830 695739 749757 532741 142378 74638 1238967 732885 404645 101437 552351 372682 114179 65490 724098 724098 36917 36917 69663 69663 425921 425921 39485 3238 21374 14873 1043283 667897 173367 202019 269798 211939 46467 11392 1526896 1313131 213765 152274 74636 63183 14455 91199 69781 14951 6467 838749 838749 1860938 1600407 260531 CONTRACT SERVICES 951047 657557 203509 89981 SPECIAL EVENTS 784040 599033 72167 112840 MEMBERSHIP DUES 85017 52498 27440 5079 ROF EXPENSES 5238 5061 177 84231 84231 22895837 16326330 4916734 1652773 5212752 5246263 654791 1154925 6091904 5282425 123993 142454 24487 74342 65032 65318 660590 743964 55148233 25893188 30060109 29255045 65458904 56939221 32145939 35020451 809624 817310 141308125 134741718 1227931 393556 3292174 3283868 18538979 18137620 83678 85219 122862 120651 23265624 22020914 X 26201035 26307163 32376257 26085500 59465209 60328141 118042501 112720804 141308125 134741718 X 11524 -5333221 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 99873661 1873169 -2252891 106762 4422235 510308 94454634 85038679 2520609 18122573 574199 4726255 507746 99873661 78075823 3819530 8711623 1286220 3927968 354109 85038679 104383947 3599381 -24283361 174247 5005493 444404 78075823 0.15240 0.61170 0.23590 0 0 788605 788605 47148469 20418802 26729667 7053076 5474386 1578690 158083 158083 29255045 ALTERNATIVE INVESTMENTS 35020451 F 35020451 POOLED INCOME/STUDENT ACTIVITY FUND 120651 120651 22907361 22895837 11524 -5325467 -7754 -5333221 -5321697 13970712 -5325467 -3705206 -9030673 23001385 -94023 -94023 22907362 19292409 101778 101778 19190631 425921 3279285 3705206 22895837 PART IV, LINE 2B: SECURITY DEPOSITS FOR HOUSING AND DORMS HELD IN ESCROW ACCOUNT DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: TO SUPPORT THE MISSION OF THE SCHOOL. PART XI, LINE 8 - OTHER ADJUSTMENTS: STOCK VALUE DIFFERENCE BETWEEN SOLD & GIFT VALUE 690. BAD DEBT NETTED WITH REVENUE INTEREST & DIVIDENDS -8,444. TOTAL TO SCHEDULE D, PART XI, LINE 8: -7,754. PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -3,279,285. INVESTMENT EXPENSES -425,921. PART XII, LINE 4B - OTHER ADJUSTMENTS: BOOKSTORE COST OF GOODS SOLD -93,333. STOCK VALUE DIFFERENCE BETWEEN SOLD AND GIFT VALUE -690. PART XIII, LINE 2D - OTHER ADJUSTMENTS: BOOKSTORE COST OF GOODS SOLD 93,333. BAD DEBT NETTED WITH REVENUE INTEREST AND DIVIDENDS 8,445. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 3,279,285. 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 MISS PORTER'S SCHOOL IS COMMITTED TO DIVERSITY IN ITS STUDENT BODY AND ADMITS QUALIFIED STUDENTS WITHOUT REGARD TO RACE, COLOR, NATIONAL ORIGIN, ANCESTRY, DISABILITY, SEXUAL ORIENTATION, OR ANY OTHER CLASS PROTECTED BY RELEVANT LAW. EUROPE 0 0 PROGRAM SERVICES MODEL U.N. 1698 EUROPE 0 0 PROGRAM SERVICES STUDENT RECRUITING 2458 EUROPE 0 0 PROGRAM SERVICES ROYALTIES SPRING PLAY 160 CENTRAL AMERICA & CARIBBEAN 0 0 INVESTMENTS 3394029 NORTH AMERICA 0 0 INVESTMENTS 1010990 0 0 0 0 0 0 4409335 0 4409335 1 0 1 1 1 0 METHOD USED TO ACCCOUNT FOR EXPENDITURES: SCHEDULE F, PART I, LINE 3: ACCRUAL SR. AUCTION 24342 24342 24342 24342 1 SCHOLARSHIPS FOR STUDENTS ATTENDING MISS PORTER'S 113 0 3211646 FMV REDUCTION IN TUITION TEXTBOOKS, IPADS, SCHOOL SUPPLIES 12 10231 0 FMV MEDICAL INSURANCE PREMIUMS AND MEDICAL EXPENSES 3 4440 0 FMV TRAVEL AND REQUIRED TRIPS 43 13869 0 FMV CASH ASSISTANCE AND SCHOOL EXPENSES 20 39099 0 FMV PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: SCHOLARSHIPS ARE POSTED TO STUDENTS ACCOUNTS WHICH ARE REFLECTED IN THE GENERAL LEDGER. X X X X X 1 1 X X X X X 0 1 0 0 0 0 0 0 1 1 KATHERINE G WINDSOR 250525 0 0 0 62514 0 76809 0 46248 0 436096 0 0 0 MICHAEL BERGIN 182286 0 0 0 946 0 18229 0 41179 0 242640 0 0 0 JULIA MCCORMACK 190027 0 0 0 -3921 0 18496 0 19742 0 224344 0 0 0 PART I, LINE 1A TRAVEL FOR RELATIVE WHILE ATTENDING CONFERENCE. GROSS-UP IS PROVIDED FOR EDUCATION BENEFITS. CERTAIN EMPLOYEES ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. PART OF EMPLOYMENT CONTRACT INCLUDES MEMBERSHIP TO A COUNTRY CLUB AND HOUSECLEANING SERVICES. PART I, LINE 4B THE HEAD OF SCHOOL PARTICIPATES IN A 457(F) PLAN. PART I, LINE 8 THE CURRENT HEAD OF SCHOOL ENTERED INTO AN INITIAL 5-YEAR CONTRACT WITH MISS PORTER'S SCHOOL DURING THE 2008-2009 YEAR. STATE OF CT HEALTH & EDUCATIONAL FACILITIES AUTH 060806186 20774UDL6 2006-06-12 18620775 REFUND 8/15/99 BOND ISSUE AND CONSTRUCTION OF ATHLETIC FACILITY 0 0 0 18620775 301721 321170 9246874 9246874 2008 0 1 1 1 0 0 0 0 0.02090 0.00000 0.02090 1 0 0 0 0 0 0 X KATHERINE WINDSOR X 1752 1314 0 1 1 MELANIE JOSEPH X 1989 1285 0 1 1 MICHAEL BERGIN X 1713 999 0 1 1 3598 X 7 0 X 0 X 0 X 62 1650668 FMV AT TIME OF TRANSFER X 8 0 X VARIOUS AUCTION ITEMS 26 0 0 1 1 THIRD PARTY USE: PART I, LINE 32B: MERRILL LYNCH IS USED AS A BROKER TO SETTLE ALL STOCK CONTRIBUTIONS. NON REPORTING OF REVENUE: PART I, LINE 33: PART I LINE 1 - VARIOUS ART DONATIONS FOR AUCTION, PAINTINGS, PHOTOGRAPHS, POTTERY, ETC. PART I LINE 4 - DONATED BOOKS VALUED UNDER $5,000 NOT RECORDED ON BOOKS PART 1 LINE 5 - IPAD, CLOTHING, COATS PART I LINE 9 - MERRILL LYNCH IS USED AS A BROKER TO SETTLE ALL STOCK CONTRIBUTIONS. PART I LINE 18 - MISS PORTER'S SCHOOL RINGS, WEDGEWOOD DINNER PLATES MISS PORTER'S SCHOOL, OLD LETTERS PART I LINE 26 - VARIOUS AUCTION ITEMS FORM 990, PART VI, SECTION A, LINE 2 DONNA AND JEFFREY HINES ARE TRUSTEES RELATED BY MARRIAGE. FORM 990, PART VI, SECTION A, LINE 4 THE BOARD ADOPTED NEW BYLAWS ON JANUARY 21, 2012. CHANGES TO THE BYLAWS INCLUDE A CHANGE IN THE GOVERNING OFFICER COMPOSITION FROM A PRESIDENT AND MULTIPLE VICE PRESIDENT STRUCTURE TO A CHAIR AND VICE CHAIR STRUCTURE AND REVISED TERM LIMITS ON OFFICERS. FORM 990, PART VI, SECTION B, LINE 11 THE 990 IS PREPARED WITH EXTENSIVE REVIEW FROM INTERNAL BUSINESS OFFICE STAFF AND SENIOR MANAGEMENT. THE FORM 990 IS PROVIDED TO OUR AUDITOR FOR REVIEW, EDITS ARE MADE, AND IT IS THEN REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD, PER THE AUDIT COMMITTEE'S CHARTER. ALL TRUSTEES ARE PROVIDED COPIES (EXCLUDING SCHEDULE B) FOR FINAL REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE ASSISTANT TO THE HEAD OF SCHOOL DISTRIBUTES THE CONFLICT OF INTEREST POLICY TO EACH TRUSTEE AND KEY EMPLOYEE DURING THE OCTOBER TRUSTEE MEETING. PRIOR TO THE END OF THE MEETING, THE SIGNED POLICIES ARE COLLECTED BY THE ASSISTANT TO THE HEAD, AND SHE FOLLOWS UP DIRECTLY WITH ANY TRUSTEES OR KEY EMPLOYEES WHO WERE NOT IN ATTENDANCE TO ENSURE A SIGNED POLICY IS RECEIVED. ONCE ALL HAVE BEEN RECEIVED THEY ARE REVIEWED BY THE ASSOCIATE BUSINESS MANAGER AND ANY CONFLICTS ARE PRESENTED TO THE AUDIT COMMITTEE CHAIR FOR FOLLOW UP. ONCE THE REVIEW IS COMPLETE, THE FORMS ARE FILED IN THE BUSINESS OFFICE. DURING COMMITTEE MEETINGS TRUSTEES MUST ANNOUNCE IF A CONFLICT ARISES REGARDING THE SUBJECT BEING DISCUSSED. THEY CAN STATE THE CONFLICT AND CHOOSE TO RECUSE THEMSELVES FROM FURTHER CONVERSATION AND VOTING ON THE SUBJECT MATTER. FORM 990, PART VI, SECTION B, LINE 15 A THREE PERSON SUBCOMMITTEE OF THE BOARD HAS BEEN FORMED TO PROVIDE OVERSIGHT AROUND THE HEAD OF SCHOOL'S COMPENSATION AND BENEFITS. THIS SUBCOMMITTEE INCLUDES THE PRESIDENT OF THE BOARD, VICE CHAIR, AND CHAIR OF THE AUDIT COMMITTEE. THE SUBCOMMITTEE UTILIZES COMPARATIVE COMPENSATION DATA FROM THE FORTY MEMBERS OF THE ASSOCIATION OF BUSINESS OFFICERS OF PREPARATORY SCHOOLS, WITH A PARTICULAR EMPHASIS ON A SUBSET OF PEER SCHOOLS. THE PEER SCHOOL GROUP REFLECTS BOTH GEOGRAPHIC PEERS AS WELL AS SIMLARLY SIZED AND ENDOWED SCHOOLS. THE SUBCOMMITTEE CONDUCTS A THOROUGH PERFORMANCE REVIEW ON AN ANNUAL BASIS WITH AN EMPHASIS ON THE ATTAINMENT OF PERFORMANCE GOALS AND OBJECTIVES ESTABLISHED BY THE BOARD. THE HEAD OF SCHOOL APPROVES ALL SALARY INCREASES FOR HER SENIOR STAFF. THESE INCREASES ARE ALSO BASED UPON REVIEW OF POSITION DATA FROM ABOPS AS DESCRIBED ABOVE. ONCE DETERMINED, A ONE OVER ONE REVIEW BY A MEMBER OF THE COMPENSATION SUBCOMMITTEE TAKES PLACE FOR FINAL APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 ALL OF THE SCHOOL'S GOVERNING DOCUMENTS, THEIR CONFLICT OF INTEREST POLICY AND THE SCHOOL'S FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE BUSINESS OFFICE OVERSEES THE DISTRIBUTION OF REQUESTED DOCUMENTS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -5,325,467. STOCK VALUE DIFFERENCE BETWEEN SOLD & GIFT VALUE 690. BAD DEBT NETTED WITH REVENUE INTEREST & DIVIDENDS -8,444. TOTAL TO FORM 990, PART XI, LINE 5: -5,333,221.