2013-05-14T07:39:36-05:00 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 060646687 KENT SCHOOL KENT 8609276000 PO BOX 2006 KENT CT 06757 JEFFREY D CATALDO 8609276046 2013-05-10 1 ELIZABETH SOLECKI P00235171 8605614000 2011 2016-02-24 21:20:13Z JEFFREY D CATALDO PO BOX 2006 KENT CT 06757 36805855 0 X WWW.KENT-SCHOOL.EDU X 1906 CT NON-PROFIT, INDEPENDENT, PREPATORY SCHOOL; EDUCATING APP. 500 BOARDING AND 50 DAY STUDENTS. 32 32 282 0 44870 -45682 3908326 3604886 27205351 28658511 -1686211 1015386 108529 164608 29535995 33443391 6641320 7075330 0 0 14438205 15351888 26000 32000 1564252 12126457 14416204 33231982 36875422 -3695987 -3432031 151093453 147685402 51954985 53558320 99138468 94127082 ESTABLISH AND MAINTAIN A SCHOOL WHICH SHALL PROVIDE FOR BOYS AND GIRLS OF ABILITY AND CHARACTER AN ACADEMIC COURSE OF INSTRUCTION. SIMPLICITY OF LIFE, SELF-RELIANCE, AND DIRECTNESS OF PURPOSE ARE TO BE ESPECIALLY ENCOURAGED. 0 0 31142572 7075330 28613641 INDEPENDENT, CO-EDUCATIONAL PREPATORY SCHOOL; EDUCATING BOTH BOARDING AND DAY STUDENTS. SIMPLICITY OF LIFE, SELF-RELIANCE AND DIRECTNESS OF PURPOSE ARE TO BE ESPECIALLY ENCOURAGED IN BOTH BOY AND GIRL STUDENTS. 31142572 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 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 65 0 1 282 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 X 32 32 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X JEFFREY D CATALDO BUSINESS MGR CFO & ASST TREASURER 8609276046 PO BOX 2006 KENT CT 067570640 BRANDON W SWEITZER 2.00 X X 0 0 0 DAVID C CLAPP 2.00 X X 0 0 0 HENRIK N VANDERLIP 2.00 X X 0 0 0 ROBERT S ANDERSON 2.00 X 0 0 0 CATHLEEN P BLACK 2.00 X 0 0 0 ANDREW A BOGLE 2.00 X 0 0 0 FREDERIC A BOURKE III 2.00 X 0 0 0 THOMAS M BOYD 2.00 X 0 0 0 OWSLEY BROWN III 2.00 X 0 0 0 WILLIAM G CAREY III 2.00 X 0 0 0 ALAN S S CHUANG 2.00 X 0 0 0 HILTON B CLARK 2.00 X 0 0 0 THOMAS CRAIG 2.00 X 0 0 0 SIR RICHARD B DEARLOVE 2.00 X 0 0 0 ANN DICKINSON 2.00 X 0 0 0 ALICE C FRELINGHUYSEN 2.00 X 0 0 0 PETER W GETSINGER 2.00 X 0 0 0 THOMAS L HARRISON 2.00 X 0 0 0 ROBERT F HOERLE 2.00 X 0 0 0 POLLY D KETCHUM 2.00 X 0 0 0 HELEN M PARDOE 2.00 X 0 0 0 B WARING PARTRIDGE IV 2.00 X 0 0 0 OWEN C SMITH 2.00 X 0 0 0 WILLIAM C PETTY III 2.00 X 0 0 0 LORD JONATHAN ROTHMERMERE 2.00 X 0 0 0 LYNN DOE SHIPWAY 2.00 X 0 0 0 REV E DON TAYLOR 2.00 X 0 0 0 MAGALEN CRANE WEBERT 2.00 X 0 0 0 BRUCE N WHITMAN 2.00 X 0 0 0 KIMBERLY BRAINARD NAYLOR 2.00 X 0 0 0 RENE A LACERTE 2.00 X 0 0 0 WILLIAM W WURTS 2.00 X 0 0 0 RICHARDSON W SCHELL 60.00 X 343085 0 92810 THOMAS B SIDES 50.00 X 240493 0 34357 MARC CLOUTIER 50.00 X 129551 0 41155 JEFFREY D CATALDO 50.00 X 142477 0 25295 ADAM FISCHER 50.00 X 113858 0 97600 CATHERINE MAZZA 50.00 X 107261 0 34344 1076725 0 325561 6 0 1 0 ABM JANITORIAL SERVICES PO BOX 1534 NEW YORK NY 10008 CLEANING SERVICE 551612 ALLIED PRINTING PO BOX 34 BRATTLEBORO VT 05302 PRINTING SERVICES 257911 SLAM COLLABORATIVE PO BOX 12 BRATTLEBORO VT 05302 ARCHITECTS 152939 WILLIAM PEROTTI & SONS 11 FURNACE HILL RD EAST CANAAN CT 06024 PLUMBING & HEATING 145649 MP LANDSCAPING 2 BIRCH HILL RD KENT CT 06757 LANDSCAPING 108836 5 13525 17617 3573744 497070 3604886 TUITION & RELATED SERV 611710 27434369 27434369 OTHER PROGRAM RELATED 611710 972173 972173 SUMMER RENTAL INCOME 531190 207099 207099 MEMBERSHIP DUES 713940 44870 44870 28658511 925471 925471 3162650 3072735 89915 89915 89915 75496 13525 46583 28913 28913 378841 243146 135695 135695 33443391 28613641 44870 1179994 7075330 7075330 942597 200268 493860 248469 10217576 8500637 1173194 543745 1558354 1315343 178994 64017 1872288 1641595 157504 73189 761073 601525 108989 50559 78659 58718 19941 72855 72855 32000 32000 9980 9980 162698 111386 51312 18089 18089 1360779 872662 317908 170209 143270 80749 7101 55420 2828907 2828907 424591 263049 89529 72013 39062 39062 866246 866246 2719297 2556139 135965 27193 155618 155618 CHANGE IN PENSION LIAB. 1734837 1734837 EQUIP. RENTAL & MAINT. 724833 717391 7381 61 FOOD 570055 570055 COMPUTER PURCHASES 324450 324450 2181978 882003 1131601 168374 36875422 31142572 4168598 1564252 16187398 15792508 9182821 6237564 7923848 6601433 281334 253947 3899326 4227979 102496272 46411040 49389160 56085232 44195338 44395126 19171007 13287113 863221 804500 151093453 147685402 2166222 2352152 18427273 19908065 27401598 26150447 3959892 5147656 51954985 53558320 X 39226358 36149869 20383547 17904022 39528563 40073191 99138468 94127082 151093453 147685402 X -3432031 -1579355 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 59690734 654696 -864994 3658000 55822436 52804510 628572 9985652 3728000 59690734 51220227 814066 4564585 3794368 52804510 65861541 781086 -11315041 4107359 51220227 0.26000 0.70000 0.04000 0 0 705347 705347 71877637 31034840 40842797 7204449 6195583 1008866 11424831 9180617 2244214 11284008 11284008 56085232 ALTERNATIVE INVESTMENTS 12893113 F REAL ESTATE 394000 C 13287113 ACCRUED PENSION EXPENSE 4377646 POOLED INCOME FUND LIABILITIY 419614 LIABILITY UNDER SPLIT INTEREST AGREEMENTS 350396 5147656 33443391 36875422 -3432031 -1579355 -1579355 -5011386 24431853 -1579355 -7675330 -9254685 33686538 -243147 -243147 33443391 29443239 243147 243147 29200092 7675330 7675330 36875422 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE INTENDED USE OF THE ORGANIZATION'S ENDOWMENT FUNDS ARE TO SUPPORT THE SCHOOL'S MISSION. PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID/TUITION REMISSION -7,675,330. PART XII, LINE 4B - OTHER ADJUSTMENTS: COGS -243,147. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COGS 243,147. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID/TUITION REMISSION 7,675,330. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 A NOTICE OF OUR NONDISCRIMINATORY POLICY AS TO STUDENTS WAS PUBLISHED IN THE HARTFORD COURANT EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 KENT SCHOOL RECEIVES A GRANT FROM THE REGION 1 SCHOOL DISTRICT. EUROPE (INCLUDING ICELAND & GREENLAND) - 0 0 FUNDRAISING 5039 EUROPE (INCLUDING ICELAND & GREENLAND) - 0 0 PROGRAM SERVICES ADMISSIONS 14640 CENTRAL AMERICA AND THE CARIBBEAN - 0 0 PROGRAM SERVICES ADMISSIONS 1110 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ADMISSIONS 68292 EAST ASIA AND THE PACIFIC - 0 0 FUNDRAISING 12080 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES ADMISSIONS 14153 RUSSIA & THE NEWLY INDEPENDENT STATES 0 0 PROGRAM SERVICES ADMISSIONS 3408 NORTH AMERICA - CANADA AND MEXICO 0 0 PROGRAM SERVICES ADMISSIONS 258 NORTH AMERICA - CANADA AND MEXICO 0 0 FUNDRAISING 949 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 318420 0 0 0 0 0 0 118980 319369 438349 0 0 1 0 1 0 X X X X X X 1 LUCIE GARENNE 1 ABERNATHY LANE MARBLEHEAD MA 01945 CONSULTING 0 0 32000 0 32000 AUCTION 89021 13525 75496 12219 5500 22000 6864 89021 13525 75496 12219 5500 22000 6864 46583 28913 1 STUDENT FINANCIAL AID 224 7075330 FAIR VALUE WAIVE TUITION, FEES, AND OTHER CHARGES FOR THOSE STUDENTS WHO QUALIFY FOR AID. PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: FINANCIAL AID IS PROVIDED VIA A WAIVER OF TUITION, FEES, AND OTHER CHARGES. X X X 1 1 X X X X X X 0 0 0 0 0 0 0 0 0 RICHARDSON W SCHELL 343085 0 0 0 0 0 70193 0 22617 0 435895 0 0 0 THOMAS B SIDES 240493 0 0 0 0 0 25906 0 8451 0 274850 0 0 0 MARC CLOUTIER 129551 0 0 0 0 0 14714 0 26441 0 170706 0 0 0 JEFFREY D CATALDO 142477 0 0 0 0 0 15053 0 10242 0 167772 0 0 0 ADAM FISCHER 113858 0 0 0 0 0 12452 0 85148 0 211458 0 0 0 PART I, LINE 1A BUSINESS CLASS TRAVEL IS PROVIDED FOR THE HEADMASTER AND ASSISTANT SECRETARY ON CERTAIN EUROPEAN AND ASIAN TRIPS. CERTAIN EMPLOYEES, INCLUDING THE HEADMASTER, ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. A CLEANING SERVICE IS PROVIDED FOR THE HEADMASTER'S RESIDENCE. CHEFA 060806186 20774LJ97 2004-10-06 21725000 REFUND EXISTING DEBT 0 0 0 CHEFA 060806186 20774UN35 2008-12-17 10155000 REFUND EXISTING DEBT & CONSTRUCTION 0 0 0 22982518 22228726 344792 409000 2004 0 1 1 1 10155000 9200000 203100 51537 700363 2009 0 1 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.01970 0.01970 1 0 0 0 0 0 0 0 0 0 0 0 0 PART V - PROCEDURES TO TAKE CORRECTIVE ACTION: KENT SCHOOL HAS WRITTEN PROCEDURES IN PLACE TO ENSURE POST-ISSUANCE COMPLIANCE OF ITS TAX-EXEMPT BOND LIABILITIES. THE ORGANIZATION IS CURRENTLY IN THE PROCESS OF ADDING ADDITIONAL WRITTEN PROCEDURES TO ENSURE THAT VIOLATIONS OF FEDERAL TAX REQUIREMENTS ARE TIMELY IDENTIFIED AND CORRECTED THROUGH THE VOLUNTARY CLOSING AGREEMENT PROGRAM IF SELF-REMEDIATION IS NOT AVAILABLE UNDER APPLICABLE REGULATIONS. KENT SCHOOL EXPECTS TO HAVE THESE ADDITIONAL WRITTEN PROCEDURES IN PLACE BY JUNE 30, 2013. BETTINA CLOUTIER SPOUSE OF AN OFFICER 58938 EMPLOYMENT 0 JUDITH SIDES SPOUSE OF AN OFFICER 10595 EMPLOYMENT 0 X 45 467070 FMV X HORSE 2 30000 APPRAISAL 2 0 1 0 FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION CONSIST OF THE HEADMASTER AND THE CURRENT MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE ORGANIZATION VOTE ON THE TRUSTEE NOMINATIONS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS VOTE ON AND APPROVE DECISIONS. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 AND ALL RELATED SCHEDULES ARE REVIEWED WITH THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. SUCH COMMITTEE HAS RESPONSIBILITY FOR ENSURING BOTH ACCURATE AND COMPLETE FINANCIAL AND TAX DISCLOSURE. ONCE FORM 990 IS APPROVED BY THE AUDIT COMMITTEE, FORM 990, EXCLUDING THE SCHEDULE B, IS PROVIDED TO ALL VOTING MEMBERS OF THE BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE SCHOOL SURVEYS THE FULL BOARD OF TRUSTEES TO DETERMINE IF A CONFLICT OF INTEREST EXISTS. THE PROCESS IS REVIEWED BY BOTH THE HEADMASTER'S OFFICE AND THE BUSINESS MANAGER'S OFFICE TO CONFIRM NO CONFLICT OF INTEREST OR TO REVIEW THE POSSIBLE CONFLICT AND RESOLVE AS APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION FOR THE HEAD OF SCHOOL IS DETERMINED BY A COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE COMMITTEE WILL CONSIDER THE SKILL SET OF THE HEAD OF SCHOOL, THE EXPERIENCE LEVEL OF THE HEAD OF SCHOOL AND WILL BENCHMARK CURRENT COMPENSATION AND PROPOSED COMPENSATION AGAINST OTHER HEADMASTERS IN OUR PEER GROUP. FURTHER, THE COMMITTEE, IF IT DEEMS APPROPRIATE, WILL LOOK TO THE ADVICE OF A 3RD PARTY CONSULTANT TO VALIDATE COMPENSATION. THE COMMITEE WILL THEN MAKE A RECOMMENDATION AS TO THE COMPENSATION WHICH WILL BE APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD. FOR OTHER OFFICERS AND KEY EMPLOYEES, THE BUSINESS MANAGER AND THE HEADMASTER WILL REVIEW COMPENSATION IN CONJUNCTION WITH JOB RESPONSIBILITY, SKILL SET AND EXPERIENCE. THE JOB WILL THEN BE BENCHMARKED AGAINST OTHER POSITIONS AT OTHER SCHOOLS WITHIN OUR PEER GROUP. THE PROPOSED COMPENSATION WILL THEN BE DISCUSSED AS NECESSARY WITH MEMBERS OF THE BOARD'S EXECUTIVE COMMITTEE. IN THE RECENT PAST, A 3RD PARTY CONSULTANT HAS NOT BEEN USED TO SET THE COMPENSATION FOR OTHER OFFICERS OR KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL'S BY LAWS, CERTIFICATE OF INCORPORATION, AUDITED FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND ALL TAX RELATED DOCUMENTATION WILL BE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -1,579,355. BUSINESS TRANSACTION INVOLVING INTERESTED PERSONS: SCHEDULE L, PART IV EMPLOYMENT OF INTERESTED PERSONS IS REVIEWED AND APPROVED AS APPROPRIATE BASED ON THE INDIVIDUAL'S ABILITY TO PERFORM THE JOB. COMPENSATION: PART VII, SECTION A THE KENT SCHOOL HAS DISCLOSED THE VALUE OF HOUSING AS A NONTAXABLE BENEFIT ON PART VII, SECTION A AND ON SCHEDULE J. HOWEVER, THE KENT SCHOOL DOES NOT CONSIDER THE HOUSING TO BE AN EMPLOYEE BENEFIT. HOUSING IS A CONDITION OF EMPLOYMENT THAT IS REQUIRED AND NECESSARY TO ALLOW CERTAIN EMPLOYEES TO PERFORM THEIR JOB RESPONSIBILITIES.