2013-02-14T11:37:34-06:00 2012-06-30 STOCKMAN KAST RYAN & CO LLP 102 N CASCADE AVENUE SUITE 400 COLORADO SPRINGS CO 80903 990 2011-07-01 840423922 THE FOUNTAIN VALLEY SCHOOL OF COLORADO % JANET REFIOR FOUN 7193907035 6155 FOUNTAIN VALLEY SCHOOL ROAD COLORADO SPRINGS CO 80911 Craig W Larimer 2013-02-15 true DOREEN B MERZ 7196301186 2011 2016-03-07 17:11:31Z 16130584 false X WWW.FVS.EDU X 1930 CO THE FOUNTAIN VALLEY SCHOOL OF COLORADO IS DEDICATED TO PROVIDING A RIGOROUS COLLEGE-PREPRATORY CURRICICULUM IN ACADEMICS, ATHLETICS, AND THE ARTS. 26 26 179 0 0 4317769 2584527 10139568 9189734 1741597 846294 -271404 81660 15927530 12702215 1903913 1874610 0 0 5331211 5536777 43049 54931 827835 6588248 7002941 13866421 14469259 2061109 -1767044 58067067 54451544 10219737 9066911 47847330 45384633 X THE FOUNTAIN VALLEY SCHOOL OF COLORADO IS DEDICATED TO PROVIDING A RIGOROUS COLLEGE-PREPRATORY CURRICULUM IN ACADEMICS, - CONTINUED ON SCHEDULE O false false 9200357 1874610 9443314 THE FOUNTAIN VALLEY SCHOOL PROVIDES INSTRUCTION TO STUDENTS; SERVICES TO STUDENTS SUCH AS HOUSING, ATHLETICS, INFIRMARY, AND COUNSELING; FOOD SERVICES; AND SCHOLARSHIPS 9200357 true true false false false false false false false true true true false false true true true false true false false false false true false false false false true true false false false false false false false false true false false false false false false false false false true 36 0 179 true false false false false false false false false false false X 26 26 false false false false false false false true true false false true true true true true true true true false X JANET REFIOR 7193907035 6155 FOUNTAIN VALLEY SCHOOL ROAD COLORADO SPRINGS CO 80911 X RONENE E ANDERSON 1.0 X HOYT W BACON 1.0 X JULIE CHESLEY 1.0 X RICARDO CREEL 1.0 X W JEROME FRAUTSCHI 1.0 X ROBERT E HENDERSON 1.0 X FISHER HOWE 1.0 X SHANE A JOHNSON 1.0 X CHARLES P LECOMPTE 1.0 X HENRY P MORSE JR 1.0 X MARY LOU MULLIN 1.0 X JONATHON T PATTEN 1.0 X DUKE PHILLIPS 1.0 X WALLACE H ROWE III 1.0 X ROBERT C STANLEY III 1.0 X ROBERT E TONSING MD 1.0 X JOSEPHINE T PARR 1.0 X IAN GRIFFIS 1.0 X MAUREEN S SCHULTZ 1.0 X JAMES WEBSTER 1.0 X CRAIG LARIMER 40.0 X X 148802 0 26888 KEN WILKINS 40.0 X 110159 24183 258961 0 51071 2 false true false 0 2584527 424036 2584527 TUITION AND FEES 900099 9154424 9154424 SUMMER PROGRAMS 900099 35310 35310 9189734 637567 637567 0 0 133335 424252 -290917 -290917 -290917 2950974 4810 2744328 2729 206646 2081 208727 208727 0 0 376057 257060 118997 118997 RIDING PROGRAM 900099 97673 97673 GCLI PROGRAM 900099 148580 148580 MISCELLANEOUS 900099 7327 7327 253580 12702215 9443314 674374 0 1874610 1874610 0 0 328290 195567 103576 29147 0 3893906 2293982 1248563 351361 295393 175970 93196 26227 670307 399311 211482 59514 348881 207833 110072 30976 45277 41056 4221 4658 4658 55356 55356 0 54931 54931 52134 52134 114778 18183 96595 204644 7088 91681 105875 645921 232383 364341 49197 95050 95050 0 1552839 1256219 280191 16429 226743 14695 113349 98699 0 118318 67802 50516 104325 104325 0 1360096 1215742 144354 245111 245111 FOOD EXPENSE 987662 987662 MISCELLANEOUS 647375 248196 399179 BAD DEBTS 494590 494590 MEMBERSHIPS 48064 5114 41692 1258 14469259 9200357 4441067 827835 18000 13021 3038296 3140233 1917952 1307870 257138 166126 0 0 0 0 0 0 9059 14012 81990 164412 40983535 21566177 20192761 19417358 27133158 23802622 3459615 4488132 0 0 0 0 1959098 1937758 58067067 54451544 487098 625738 0 0 4151618 3493716 5440000 4795000 0 0 0 0 0 0 0 0 141021 152457 10219737 9066911 X 28065702 25005309 4210671 4050545 15570957 16328779 47847330 45384633 58067067 54451544 X -1767044 -695653 X X false true true X false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 37034270 589605 -582145 732671 36309059 31042114 1181394 7143293 2332531 37034270 27507441 608624 3678329 752280 31042114 38626761 2270558 -5489297 7900581 27507441 0.50390 0.44970 0.04640 true false 181550 181550 35161722 17953162 17207560 2812244 1166812 1645432 2829019 2446203 382816 19417358 PRIVATELY HELD COMMON STOCK 589279 F HEDGE FUNDS 2691857 F LIMITED PARTNERSHIPS 1206996 F 4488132 0 ANNUITY PAYABLE 152457 152457 12702215 14469259 -1767044 -1421027 -26433 -1447460 -3214504 11960419 -1421027 679231 -741796 12702215 12702215 15174923 705664 705664 14469259 14469259 PART XII, LINE 2d OTHER AMOUNTS INCLUDED IN THE FINANCIALS NOT IN THE RETURN COST OF INVENTORY SOLD OFFSET AGAINST REVENUE 424,252 RENTAL EXPENSES OFFSET AGAINST REVENUE 257,060 GAIN on disposal of assets reclassed to revenue (2,081) TOTAL TO SCHEDULE D, PART XII, LINE 2D 679,231 PART XIII, LINE 2d OTHER AMOUNTS INCLUDED IN THE FINANCIALS NOT IN THE RETURN COST OF INVENTORY SOLD OFFSET AGAINST REVENUE 424,252 RENTAL EXPENSES OFFSET AGAINST REVENUE 257,060 GAIN on disposal of assets reclassed to revenue (2,081) ACTUARIAL LOSS ON ANNUITY OBLIGATIONS 26,433 TOTAL TO SCHEDULE D, PART XII, LINE 2D 705,664 PART XI, LINE 8 OTHER AJUSTMENTS ACTUARIAL LOSS ON ANNUITY OBLIGATIONS (26,433) PART X, LINE 2 The School believes that it does not have any uncertain tax positions that are material to the financial statements. Part V line 4 Use of Endowment Funds THE FOUNTAIN VALLEY SCHOOL'S ENDOWMENT FUNDS ARE RESTRICTED PERMANENTLY OR TEMPORARILY BY DONOR INTENT AS TO PURPOSE OR TIME LIMITATION, AND ARE ACCOUNTED FOR AS SUCH IN THE BOOKS OF ACCOUNTS OF THE SCHOOL. THE DEVELOPMENT DIRECTOR OF THE SCHOOL IS PRIMARILY RESPONSIBLE FOR THIS DETERMINATION AFTER CONSULTATION WITH THE DONOR AS DOCUMENTED BY THE GIFT DECREEL. THIS IS IN TURN PROVIDED TO THE BUSINESS OFFICE OF THE SCHOOL WHERE THE CFO CONFIRMS INTENT AND ACCOUNTS FOR THE GIFT ACCORDING TO GAAP. ENDOWMENT FUNDS OF THE SCHOOL ARE GENERALLY ORGANIZED TO PROVIDE FOR PROGRAM NEEDS, FACULTY DEVELOPMENT, AND FINANCIAL AID. THE BOARD OF TRUSTEES MAY INTERNALLY RESTRICT DONOR UNRESTRICTED GIFTS AS QUASI-ENDOWMENT IN THE BEST INTERESTS OF THE SCHOOL AS DETERMINED BY THE STRATEGIC PLAN AS ADVISED BY THE FINANCE AND DEVELOPMENT COMMITTEES OF THE SCHOOL. THE BOARD AUTHORIZED SPENDING POLICY IS AN ANNUAL DRAW FROM THE ENDOWMENT LIMITED TO 5.5% OF THE VALUATION OF TOTAL ENDOWMENT FUNDS BASED ON A ROLLING TWELVE QUARTER AVERAGE. true true true true true true true false false false false false false false false false false true SCH E, PART 1, LINE 3 A STATEMENT THAT THE FOUNTAIN VALLEY SCHOOL DOES NOT DISCRIMINATE ON THE BASIS OF RACE, RELIGION, GENDOR, OR NATIONAL ORIGIN IS POSTED IN THE RECEPTION AREA AND IS INCLUDED IN RECOMMENDATION FORMS, ETC. X X X X X X true MARTZ LUNDY - 1200 WALL STREET WE 1200 Wall Street West Lyndhurst NJ 07071 CONSULTING false 18900 18900 CO true SCHOLARSHIPS 96 1874610 990 SCH I Part I Description of Procedure for Monitoring Use of Funds SCHOLARSHIPS ARE ONLY PROVIDED TO STUDENTS TO ASSIST WITH THE COST OF TUITION. NO CASH IS ACTUALLY DISBURSED TO STUDENTS. X X X X X false false false false false false false false false CRAIG LARIMER 139329 0 0 0 9473 0 12074 0 14814 0 175690 0 X 14 188836 FAIR MARKET VALUE X 1 112500 FAIR MARKET VALUE X DONATED HORSES 10 122700 FAIR MARKET VALUE 29 false true false SCH M, PART I, COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS OF NON-CASH ITEMS SCH M, LINE 33 ONLY STOCK DONATIONS ARE BOOKED AS NON-CASH CONTRIBUTIONS TO THE FINANCIAL STATEMENTS, OTHER NON-CASH DONATIONS ARE NOT ASSIGNED VALUES BY THE DEVELOPMENT GROUP AND ARE NOT RECORDED AS CONTRIBUTIONS. Supplemental Information FORM 990, PART III, LINE 1 ORGANIZATION'S MISSION CONTINUED ATHLETICS, AND THE ARTS. OUR COMMUNITY ENDEAVORS TO FOSTER A LIFELONG LOVE OF CHALLENGE AND LEARNING IN AN ENVIRONMENT OF DIVERSITY AND MUTUAL RESPECT, AND TO PREPARE ADOLESCENTS TO BECOME INDIVIDUALS WHO ARE OPEN-MINDED, CURIOUS, COURAGEOUS, SELF-RELIANT AND COMPASSIONATE. PREPARE ADOLESCENTS TO BECOME INDIVIDUALS WHO ARE OPEN-MINDED, CURIOUS, COURAGEOUS, SELF-RELIANT AND COMPASSIONATE. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED BY A THIRD PARTY PREPARER WITH A DETAIL REVIEW BEING COMPLETED BY THE CFO OR OTHER SELECTED ADMINISTRATORS OF THE ORGANIZATION. A SECONDARY REVIEW IS PERFORMED BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES, WITH A FINAL VERSION OF THE FORM 990 BEING SENT TO THE ENTIRE BOARD VIA EMAIL BEFORE THE RETURN IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST POLICY STATEMENT IS REVIEWED ANNUALLY BY THE BOARD OF TRUSTEES AT THE FIRST MEETING OF THE FISCAL YEAR. A DISCUSSION OF THE CONFLICT OF INTEREST POLICY IS FOLLOWED BY A QUESTION AND ANSWER TIME. ALL TRUSTEES ARE REQUIRED TO SIGN AND SUBMIT THE STATEMENT ANNUALLY. QUESTIONS ABOUT POTENTIAL CONFLICTS OF INTEREST ARE SUBMITTED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW AND DECISION, AND MAY BE BROUGHT BEFORE THE ENTIRE BOARD FOR DISCUSSION AS DEEMED NECESSARY BY THE EXECUTIVE COMMITTEE. CONCERNS ABOUT POTENTIAL CONFLICTS, RAISED BY ORGANIZATION STAFF, ARE DIRECTED THROUGH THE HEADMASTER TO THE BOARD OF TRUSTEES. CONCERNS REGARDING A CONFLICT OF INTEREST REQUIRE A BOARD MEMBER TO RECUSE THEMSELVES FROM VOTING ON THE ISSUE IN CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES DIRECTLY HIRES THE HEADMASTER OF THE SCHOOL AND DETERMINES HIS COMPENSATION PACKAGE. MEMBERS OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES ARE RESPONSIBLE FOR NEGOTIATING COMPENSATION OF THE HEADMASTER OR MAY DELEGATE SOME ASPECTS TO THE HEADMASTER SEARCH COMMITTEE. HEADMASTER COMPENSATION IS DETERMINED BASED ON QUALIFICATIONS AND EXPERIENCE AS MEASURED AGAINST THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL NORMS AND CONSULTATION WITH CONSULTANTS FAMILIAR WITH INDEPENDENT SCHOOLS. A WRITTEN CONTRACT (HEADMASTER'S CONTRACT) OF DUITES AND RESPONSIBILITIES ALONG WITH SALARY AND BENEFITS IS PROVIDED EACH YEAR AFTER THE ANNUAL PERFORMANCE REVIEW. THE CFO IS HIRED BY THE HEADMASTER UNDER THE ADVICE AND CONSENT OF THE BOARD OF TRUSTEES. THE CFO RECEIVES A WRITTEN CONTRACT WHICH DELINEASTES DUTIES AND RESPONSIBILITIES ALONG WITH SALARY AND RELATED BENEFITS. BENEFITS RECEIVED ARE THE SAME PACKAGE AS PRODIVED TO OTHER EMPLOYEES OF THE SCHOOL. COMPENSATION IS DETERMINED BASED ON QUALIFICATIONS AND EXPERIENCE AS MEASURED AGAINST THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL NORMS AND CONSULATION WITH THE CONSULTANTS FAMILIAR WITH INDEPENDENT SCHOOLS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC AS PART OF THE 990 PUBLIC DISCLOSURE FILE. FORM 990, PART XI, LINE 5 OTHER CHANGES IN NET ASSETS OR FUND BALANCES: CHANGE OF ACCOUNTING METHOD 751,807 NET UNREALIZED GAINS ON INVESTMENT (1,421,027) ACTUARIAL LOSS ON ANNUITY OBLIGATIONS (26,433) TOTAL TO SCHEDULE D, PART XII, LINE 2D (695,653) FORM 990, PART XII, LINE 1 CHANGE OF ACCOUNTING METHOD During the year ended June 30, 2012, the School changed its method of accounting for certain investments which had been carried at lower of cost or estimated fair value to fair value. The School believes that the new method more accurately reflects periodic changes in net assets. The effect of the change was to increase investments and investment earnings by $94,570 for the year ended June 30, 2012. The financial statements for the year ended June 30, 2011 have been retroactively restated for such change which resulted in an increase in investments and investment earnings of $212,802. The cumulative effect on prior years was to increase net assets by $539,005 as of the beginning of 2011. HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:CRAIG LARIMER TITLE:HEADMASTER HOURS: