2025-03-18T11:06:27-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN 29 SOUTH MAIN STREET 4TH FLOOR WEST HARTFORD CT 06107 990 2023-07-01 060646921 THE TAFT SCHOOL CORPORATION TAFT 8609457777 110 WOODBURY RD WATERTOWN CT 06795 JOHN H ODDEN CFO 8609457777 2024-12-16 1 1 JOHN TOSCANO P00358542 8605614000 2025-03-05 2023 2025-03-06 01:10:19Z JOHN H ODDEN 110 WOODBURY RD WATERTOWN CT 06795 192436367 0 X WWW.TAFTSCHOOL.ORG X 1930 CT THE MISSION OF THE SCHOOL IS TO EDUCATE THE WHOLE STUDENT. 30 30 382 30 222207 0 23719000 18830748 41478107 41333362 6938100 19748764 520082 449149 72655289 80362023 10851260 10908628 0 0 28920379 29533717 64276 68273 3880110 24057544 25326903 63893459 65837521 8761830 14524502 466785212 493572563 64668062 64460191 402117150 429112372 THE MISSION OF THE SCHOOL IS TO EDUCATE THE WHOLE STUDENT. 0 0 54371090 10908628 41520979 PPROVIDE EDUCATION SERVICES AND SUPPORT FOR APPROXIMATELY 600 STUDENTS IN GRADES NINE THROUGH POST-GRADUATE IN A BOARDING AND DAY SETTING. 54371090 1 1 0 0 0 0 0 1 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 0 0 1 0 0 0 0 1 1 0 0 0 1 218 0 1 382 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X JOHN H ODDEN 8609457770 110 WOODBURY RD WATERTOWN CT 06795 SARKIS D IZMIRLIAN CHAIRMAN 0.50 X X 0 0 0 ERNEST O KWARTENG SECRETARY 0.50 X X 0 0 0 AMISH H MEHTA TREASURER 0.50 X X 0 0 0 JONATHAN D ALBERT TRUSTEE 0.50 X 0 0 0 SUPRIYA BALSEKAR BOOTH TRUSTEE 0.50 X 0 0 0 PETER CBOWDEN TRUSTEE 0.50 X 0 0 0 HENRY G BRAUER TRUSTEE 0.50 X 0 0 0 DIANA SANDS CALVARUSO TRUSTEE 0.50 X 0 0 0 FOSTER CHIANG TRUSTEE 0.50 X 0 0 0 KATAMA GUERNSEY EASTMAN TRUSTEE 0.50 X 0 0 0 ICY H FRANTZ TRUSTEE 0.50 X 0 0 0 J KINGMAN GORDON TRUSTEE 0.50 X 0 0 0 MICHAEL M HUMPHREYS TRUSTEE 0.50 X 0 0 0 ROGER LEE TRUSTEE 0.50 X 0 0 0 CHARMAINE S LESTER TRUSTEE 0.50 X 0 0 0 MR NAVID A MAHMOODZADEGAN TRUSTEE 0.50 X 0 0 0 AMANDA C MCGOVERN TRUSTEE 0.50 X 0 0 0 PAUL T MCGOWAN TRUSTEE 0.50 X 0 0 0 ANTHONY W PASQUARIELLO TRUSTEE 0.50 X 0 0 0 E MARC PINTO TRUSTEE 0.50 X 0 0 0 EMILY ISRAEL PLUHAR TRUSTEE 0.50 X 0 0 0 JOHN K RIGGINS JR TRUSTEE 0.50 X 0 0 0 ROBERT F SAVAGE JR TRUSTEE 0.50 X 0 0 0 DYLAN SIMONDS TRUSTEE 0.50 X 0 0 0 KATE GENUNG TAYLOR TRUSTEE 0.50 X 0 0 0 JEFFREY M WALSH TRUSTEE 0.50 X 0 0 0 NANA CHIU WANG TRUSTEE 0.50 X 0 0 0 ROBIN WANG TRUSTEE 0.50 X 0 0 0 SCOTT G WILLARD TRUSTEE 0.50 X 0 0 0 JOANNE K ZIESING TRUSTEE 0.50 X 0 0 0 PETER BECKER PRESIDENT/HEAD OF SCHOOL EFF 7/1/23 40.00 X 242834 0 94088 JOHN H ODDEN CFO 40.00 X 293387 0 99350 ARTHUR L CRIMMINS CHIEF ADVANCEMENT OFFICER 40.00 X 277944 0 83545 EDITH F TRAINA ASSIST. HEAD OF SCHOOL FOR FACULTY & ACADEMICS 40.00 X 188430 0 144077 DAVID JEREMY LACASSE ASSIST. HEAD OF SCHOOL FOR STUDENT LIFE 40.00 X 169941 0 120497 PETER A FREW DIR. OF ADMISSIONS 40.00 X 186690 0 63396 KAITLIN ORFITELLI DIR. OF MARKETING & COMMUNICATIONS 40.00 X 162711 0 120575 HEIDI LEATHERMAN CONTROLLER 40.00 X 163620 0 30656 JAMES SHEPERD DIRECTOR OF FACILITIES 40.00 X 152734 0 76009 SUSAN HEREBY LEGAL COUNSEL 40.00 X 163153 0 62060 WILLIAM MACMULLEN FORMER PRES./HEAD OF SCHOOL EFF 7/1/23 40.00 X 804028 0 135221 2805472 0 1029474 40 1 1 0 ARAMARK CORPORATION PO BOX 91337 CHICAGO IL 60693 FOOD SERVICES 2645167 BUSHKA LUMBER & MILLWORK LLC 305 FAIRFIELD AVENUE WATERBURY CT 06708 CONSTRUCTION SERVICES 1663373 THE COLONY GROUP LLC ONE BOSTON PLACE 11TH FLOOR BOSTON MA 02108 INVESMENT MANAGEMENT 967796 CANOPY ROOFING AND PROPERTY SERVICES LL 32 CEDAR ST LUDLOW MA 01056 ROOF AND PROPERTY SERVICES 603335 INTEGRATION PARTNERS CORPORATION 12 HARTWELL AVENUE LEXINGTON MA 02421 INFORMATION TECHNOLOGY CONTRACTOR 469858 34 18830748 934589 18830748 STUDENT TUITION 611110 39779700 39779700 PROGRAM FEES 611110 1553662 1553662 41333362 6507896 34729 6473167 124937516 111696648 13240868 13240868 13240868 542433 377696 164737 164737 HOCKEY RINK 532000 187478 187478 AUXILIARY INCOME 611110 96934 22880 74054 284412 80362023 41520979 222207 19788089 10908628 10908628 2064472 604449 1034270 425753 381690 381690 18568142 15939155 1199678 1429309 1535285 1351281 88631 95373 5518588 4443693 696853 378042 1465540 1193069 149425 123046 19487 19487 79893 79893 68273 68273 1881328 1881328 6441356 5597461 653230 190665 81492 75065 6392 35 1443925 974955 212446 256524 840061 826213 7766 6082 196 196 2571621 2507259 45786 18576 753836 448793 151589 153454 210485 180508 25876 4101 1145333 1116668 20392 8273 6194668 6039630 110291 44747 680674 663638 12119 4917 INSTRUCTION 989527 989527 GENERAL AND INSTITUTION 925534 116898 808636 DEVELOPMENT 673381 673381 STUDENT SERVICES 322687 322687 71419 71317 543 -441 65837521 54371090 7586321 3880110 21057919 20794700 9314100 8320987 7177805 8340483 346483 403964 850937 567315 234712803 112791118 121437661 121921685 135484874 168418035 170762084 164468557 353349 336837 466785212 493572563 2626735 3046322 20198410 20851582 36841935 35708902 2221 4998761 4853385 64668062 64460191 X 182933913 189484825 219183237 239627547 402117150 429112372 466785212 493572563 X 14524502 13437912 -967192 X 0 1 X 1 0 X 9782774 10561264 18432688 23719000 18830748 81326474 9782774 10561264 18432688 23719000 18830748 81326474 5338902 75987572 4642095 3387527 3943214 4170431 6473167 22616434 202220 200552 210584 222207 835563 53605 4476 3412 133263 74054 268810 105047281 196123030 0.72340 0.70070 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: AUXILIARY INCOME - 2019 AMOUNT: $ 53,605. 2020 AMOUNT: $ 4,476. 2021 AMOUNT: $ 3,412. 2022 AMOUNT: $ 133,263. 2023 AMOUNT: $ 74,054. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 0 0 305868322 11107590 30206079 5455791 8544209 333181991 285460807 17565697 15841818 5261612 7738388 305868322 317757768 9767003 -30863964 4530934 6669066 285460807 255973204 279934 73504630 4294050 7705950 317757768 264656428 1615337 701439 4355688 6644312 255973204 0.31330 0.68670 0.00000 0 0 3033210 3033210 196634894 91555141 105079753 15940303 13080598 2859705 19104396 8155379 10949017 121921685 PRIVATE EQUITIES AND ALTERNATIVE INVESTMENTS 164468557 F 164468557 LIABILITIES UNDER SPLIT-INTEREST AGREEMENTS 4853385 4853385 80420483 13437912 -11498124 1939788 78480695 1881328 1881328 80362023 53425261 377696 377696 53047565 1881328 10908628 12789956 65837521 PART III, LINE 1A: THE SCHOOL HAS A COLLECTION OF ARTWORK WHICH IS ON PUBLIC DISPLAY THROUGHOUT ITS CAMPUS BUILDINGS. THE SCHOOL FOLLOWS A POLICY OF NOT CAPITALIZING THE COLLECTION OF ARTWORK IN ITS FINANCIAL STATEMENTS. ACCORDINGLY, NO COLLECTION ITEMS ARE RECOGNIZED AS ASSETS, WHETHER THEY ARE PURCHASED OR RECEIVED AS A CONTRIBUTION. PURCHASES OF COLLECTION ITEMS REDUCE NET ASSETS IN THE PERIOD OF PURCHASE. PROCEEDS FROM SALES OR INSURANCE RECOVERIES ARE RECORDED AS INCREASES IN NET ASSETS WHEN RECEIVED. NO ITEMS WERE PURCHASED FOR OR REMOVED FROM THE COLLECTION IN 2023. PART III, LINE 4: COLLECTIONS ARE COMPRISED OF VARIOUS PAINTINGS AND SCULPTURES THAT ARE ON DISPLAY THROUGHTOUT THE SCHOOL FOR THE CULTURAL ENRICHMENT OF ITS STUDENT BODY. PART V, LINE 4: RESTRICTED ENDOWMENT FUNDS ARE USED IN ACCORDANCE WITH DONOR-IMPOSED STIPULATIONS. UNRESTRICTED ENDOWMENT FUNDS, INCLUDING BOARD DESIGNATED FUNDS, ARE USED IN ACCORDANCE WITH THE SPENDING POLICY APPROVED BY THE BOARD OF TRUSTEES. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 377,696. CHANGE IN VALUE OF TRUSTS 37,308. FINANCIAL AID -10,908,628. PROVISION FOR UNCOLLECTIBLE PLEDGES -1,004,500. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 377,696. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 10,908,628. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY ON ITS HOMEPAGE. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 1609110 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 66595374 SUB-SAHARAN AFRICA 0 0 INVESTMENTS 3405217 0 0 0 0 0 0 71609701 0 71609701 1 0 0 1 1 0 PART I, LINE 3: THE LISTED INVESTMENTS RELATE TO HOLDINGS IN THE SCHOOL'S ENDOWMENT FUND. X X X X X 1 SPENCER GROUP INC 130 S WILLARD STREET BURLINGTON VT 05401 CONSULTING 0 0 41628 0 MARCIA MONAGON 206 SUGAR MAPLE WAY MIDDLEBURY CT 06762 CONSULTING 0 0 17000 0 PG CALC INCORPORATED PO BOX 411329 BOSTON MA 022411329 CONSULTING 0 0 9645 0 68273 CT 1 STUDENT FINANCIAL AID 196 10908628 FMV TUITION AND FEES ASSISTANCE PART I, LINE 2: ALL FINANCIAL AID RECIPIENTS ARE REQUIRED TO COMPLETE A FINANCIAL AID STATEMENT AND PROVIDE THE NECESSARY SUPPORTING DOCUMENTATION. X X 1 1 X X X 0 1 0 0 0 0 0 1 0 WILLIAM MACMULLEN FORMER PRES./HEAD OF SCHOOL EFF 7/1/ 465308 0 325000 0 13720 0 72600 0 62621 0 939249 0 0 0 JOHN H ODDEN CFO 293387 0 0 0 0 0 23896 0 75454 0 392737 0 0 0 ARTHUR L CRIMMINS CHIEF ADVANCEMENT OFFICER 277417 0 0 0 527 0 23056 0 60489 0 361489 0 0 0 PETER BECKER PRESIDENT/HEAD OF SCHOOL EFF 7/1/23 240243 0 0 0 2591 0 0 0 94088 0 336922 0 0 0 EDITH F TRAINA ASSIST. HEAD OF SCHOOL FOR FACULTY & 188430 0 0 0 0 0 13168 0 130909 0 332507 0 0 0 DAVID JEREMY LACASSE ASSIST. HEAD OF SCHOOL FOR STUDENT L 169941 0 0 0 0 0 15527 0 104970 0 290438 0 0 0 KAITLIN ORFITELLI DIR. OF MARKETING & COMMUNICATIONS 162711 0 0 0 0 0 13805 0 106770 0 283286 0 0 0 PETER A FREW DIR. OF ADMISSIONS 186690 0 0 0 0 0 22882 0 40514 0 250086 0 0 0 JAMES SHEPERD DIRECTOR OF FACILITIES 151835 0 0 0 899 0 19170 0 56839 0 228743 0 0 0 SUSAN HEREBY LEGAL COUNSEL 163153 0 0 0 0 0 16592 0 45468 0 225213 0 0 0 HEIDI LEATHERMAN CONTROLLER 163620 0 0 0 0 0 13351 0 17305 0 194276 0 0 0 PART I, LINE 1A THE SCHOOL OPERATES AS A BOARDING SCHOOL WITH APPROXIMATELY 500 STUDENTS RESIDING ON CAMPUS. ACCORDINGLY, CERTAIN INDIVIDUALS ARE REQUIRED TO RESIDE ON CAMPUS. THE VALUE OF SCHOOL HOUSING PROVIDED FOR THIS PURPOSE MEETS THE REQUIREMENT FOR TAX EXEMPTION UNDER IRC SECTION 119, AND ACCORDINGLY, IS INCLUDED IN NON-TAXABLE BENEFITS. THE FOLLOWING INDIVIDUALS, LISTED ON PART II, RECEIVED HOUSING: WILLIAM MACMULLIN, JOHN H. ODDEN, PETER BECKER, EDITH F. TRAINA, AND PETER A. FREW. THE HEAD OF SCHOOL IS PROVIDED A DISCRETIONARY SPENDING ACCOUNT AS PART OF THE SCHOOL'S OPERATING BUDGET. PROCESSES AND PROCEDURES ARE IN PLACE TO VERIFY THE BUSINESS NATURE OF THESE EXPENDITURES. THIS IS NOT CONSIDERED A TAXABLE BENEFIT TO THE HEAD OF SCHOOL. PART I, LINE 4B THE HEAD OF SCHOOL PARTICIPATES IN A 457(F) PLAN. PART I, LINE 7 BONUS FOR THE FORMER PRESIDENT/HEAD OF SCHOOL WAS AWARDED AT THE DISCRETION OF THE BOARD OF TRUSTEES PRIOR TO JUNE 30, 2023. A CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY SERIES K 060806186 20774Y5P8 2018-09-11 22669365 DEFEASE SERIES E AND SERIES J 0 0 0 B CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY SERIES L 060806186 20775DKV3 2021-04-07 16267476 TO REDEEM SERIES I ISSUE, TO FUND ISSUANCE AND CONSTRUCTION COSTS 0 0 0 A 1415000 22669365 369365 22300000 1 0 0 1 B 585000 16267476 8936976 325350 7005150 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 0 1 0 0 0 1 B 0 0 0 0 0 0 0 0 1 A 1 B 0 X 75 1934589 FMV 0 0 1 0 PART I, COLUMN (B): THE AMOUNTS LISTED IN PART I, COLUMN (B) REPRESENT THE NUMBER OF ITEMSCONTRIBUTED. FORM 990, PART VI, SECTION A, LINE 1A IN THE INTERIMS BETWEEN THE MEETINGS OF THE BOARD OF TRUSTEES, THE GOVERNANCE COMMITTEE SHALL HAVE THE RIGHT TO EXERCISE ALL OF THE POWERS OF THE BOARD OF TRUSTEES, EXCEPTING THOSE RELATING TO THE ELECTION OF TRUSTEES AND THE APPOINTMENT OF A PRESIDENT OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE ASSISTANT TREASURER AND THE CONTROLLER REVIEW A COPY OF THE DRAFT FORM 990, WHICH IS PREPARED BY THE SCHOOL'S EXTERNAL AUDIT FIRM. THE DRAFT FORM 990 IS PROVIDED TO ALL AUDIT AND FINANCIAL RISK COMMITTEE MEMBERS SEVERAL DAYS IN ADVANCE OF A SCHEDULED AUDIT AND FINANCIAL RISK COMMITTEE MEETING. HIGHLIGHTS OF THE FORM 990 ARE SUBSEQUENTLY PRESENTED TO THE BOARD OF TRUSTEES AT A REGULARLY SCHEDULED MEETING FOR FULL BOARD DISCUSSION AND COMMENT. IN ORDER TO PROTECT THE PRIVACY OF ITS DONOR BASE, THE SCHOOL CHOOSES TO DISTRIBUTE TO THE BOARD A COPY OF FORM 990 WHICH EXCLUDES SCHEDULE B. ALL OTHER PAGES, SCHEDULES AND ATTACHMENTS ARE PROVIDED IN FULL TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL HAS A WRITTEN CONFLICT OF INTEREST POLICY. ALL TRUSTEES, OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO SIGN A COPY OF THE CONFLICT OF INTEREST STATEMENT. ISSUES THAT PRESENT A POTENTIAL CONFLICT OF INTEREST RELATED TO ANY CURRENT TRUSTEE, OFFICER OR KEY EMPLOYEE ARE BROUGHT TO THE ATTENTION OF THE FULL BOARD OF TRUSTEES FOR DISCUSSION AND INCLUSION IN BOARD MINUTES. THE TRUSTEE, OFFICER OR KEY EMPLOYEE THAT IS IDENTIFIED AS POSSIBLY HAVING A CONFLICT OF INTEREST IS ASKED TO RECUSE THEMSELVES FROM THE MEETING AND DISCUSSION OF THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE HEAD OF SCHOOL/PRESIDENT OF THE CORPORATION IS DETERMINED ANNUALLY BY THE GOVERNANCE COMMITTEE, INDEPENDENTLY OF THAT INDIVIDUAL, BASED UPON SURVEY DATA COLLECTED RELATED TO THE COMPENSATION OF THE HEADS OF 39 COMPARABLE BOARDING SCHOOLS. THIS PROCESS WAS LAST COMPLETED COMPENSATION FOR KEY EMPLOYEES IS DETERMINED ANNUALLY BY THE PRESIDENT OF THE CORPORATION, INDEPENDENTLY OF THOSE INDIVIDUALS, BASED UPON COMPENSATION DATA SURVEYED FROM THOSE SAME 39 SCHOOLS AND REVIEWED BY THE GOVERNANCE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE TAFT SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF TRUSTS 37,308. PROVISION FOR UNCOLLECTIBLE PLEDGES -1,004,500. CHARITABLE REMAINDER TRUSTS (2) TRUST CT THE TAFT SCHOOL CORPORATION T 1 CHARITABLE REMAINDER TRUST (1) TRUST CT T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0