2013-11-14T10:38:43-06:00 2013-06-30 420714325 MCGLADREY LLP 80 CITY SQUARE BOSTON MA 021293742 990 2012-07-01 020222227 ST PAUL'S SCHOOL STPA 6032294737 325 PLEASANT STREET CONCORD NH 03301 MICHELLE L CHICOINE 6032294737 2013-11-14 1 JAMES P SWEENEY P01263012 6179129000 2012 2016-02-25 16:41:14Z MICHAEL G HIRSCHFELD 325 PLEASANT STREET CONCORD NH 03301 260372768 0 X WWW.SPS.EDU X 1856 NH ST. PAUL'S SCHOOL IS A COEDUCATIONAL FULLY RESIDENTIAL SCHOOL. (SEE SCHEDULE O)ST. PAUL'S SCHOOL IS A COEDUCATIONAL FULLY RESIDENTIAL SCHOOL FOR GRADES 9 THROUGH 12, FOUNDED IN 1856 AS A PLACE FOR HUMANE BUT RIGOROUS EDUCATION WITHIN A SETTING OF GREAT NATURAL BEAUTY. THE SCHOOL IS LOCATED IN CONCORD, NH, ON A BUCOLIC CAMPUS CONSISTING OF WOODLAND, FIELDS, AND PONDS AND IS HOME TO APPROXIMATELY 535 STUDENTS AND 106 FACULTY MEMBERS. 28 27 486 0 1360203 1274201 11739844 23155197 26783731 27804757 9052506 12513236 722748 768572 48298829 64241762 7972319 8441213 0 0 24178206 25384445 0 0 4011706 18342995 19862720 50493520 53688378 -2194691 10553384 668197898 725074261 78488762 73772000 589709136 651302261 X BELIEVING THAT EDUCATION IS LIFELONG AND CONTINUES BEYOND THE CLASSROOM, ST. PAUL'S SCHOOL INVITES A DIVERSE GROUP OF APPROXIMATELY 535 STUDENTS AND 330 FACULTY AND STAFF MEMBERS TO CREATE AN EXTENDED FAMILY WHICH RESPECTS (SEE SCHEDULE O FOR CONTINUATION) AND NURTURES INDIVIDUAL TALENT, PERSONAL FREEDOM, AND RESPONSIBILITY, INTELLECTUAL CURIOSITY AND PUBLIC SERVICE. STUDENTS ARE ENCOURAGED TO SEEK THE HIGHEST STANDARDS OF SCHOLASTIC, ARTISTIC AND PHYSICAL ACHIEVEMENT THROUGH AN INTEGRATED CURRICULUM. 0 0 45979788 8313981 26905290 ST. PAUL'S SCHOOL'S PRIMARY PROGRAM SERVICE IS THE EDUCATION OF STUDENTS IN GRADES 9 THROUGH 12, IN A COEDUCATIONAL FULLY RESIDENTIAL SCHOOL ENVIRONMENT. THE SCHOOL STRIVES TO BE AN INCLUSIVE, EQUITABLE, AND RICHLY DIVERSE COMMUNITY, ONE THAT IS COMMITTED TO ENSURING EQUAL ACCESS TO OPPORTUNITIES, AS WELL AS PROMOTING INDIVIDUAL GROWTH THROUGH LEARNING ABOUT THE SELF AND THE PERSPECTIVES AND EXPERIENCE OF OTHERS. THE CONCENTRATED ACADEMIC WORK DONE IN COLLABORATION BY THE STUDENTS AND FACULTY AT ST. PAUL'S SCHOOL IS THE HALLMARK OF OUR ACADEMIC PROGRAM. THROUGH THE SCHOOL'S RIGOROUS ACADEMIC STANDARDS, WE ENCOURAGE OUR MOTIVATED STUDENTS TO ATTAIN THE HIGHEST LEVELS OF SCHOLARSHIP AND INTELLECTUAL GROWTH AND DEVELOPMENT. 848157 127232 975388 ST. PAUL'S SCHOOL FOUNDED THE ADVANCED STUDIES PROGRAM (ASP) IN 1958 TO PROVIDE TALENTED NEW HAMPSHIRE PUBLIC AND PAROCHIAL HIGH SCHOOL RISING SENIORS WITH CHALLENGING EDUCATIONAL OPPORTUNITIES OTHERWISE UNAVAILABLE TO THEM. EACH SUMMER, APPROXIMATELY 260 YOUNG MEN AND WOMEN LIVE ON THE ST. PAUL'S SCHOOL CAMPUS FOR FIVE AND A HALF WEEKS. STUDENTS ARE IMMERSED IN A COLLEGE-LEVEL CURRICULUM AND CHALLENGED TO DISCOVER NEW WAYS OF LEARNING. ASP OFFERS A WIDE VARIETY OF COURSES FROM SHAKESPEARE TO ASTRONOMY, WHICH THOROUGHLY EXPLORE TOPICS IN SEVERAL DISCIPLINES. IN THEIR TIME AT ASP, STUDENTS BECOME IMMERSED IN THEIR SUBJECT OF CHOICE, SETTING THEM UP FOR A LIFELONG UNDERSTANDING OF THE MATERIAL. (SEE SCHEDULE O FOR CONTINUATION) ADDITIONALLY, ALL ASP STUDENTS HAVE AN OPPORTUNITY TO ENHANCE THEIR WRITING SKILLS THROUGH COMPULSORY INTERACTIVE WRITING WORKSHOPS. 46827945 1 1 0 1 0 1 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 1 1 0 0 0 1 1 1 1 0 0 1 X 237 0 1 486 1 1 0 0 0 0 0 0 1 1 0 0 0 0 0 X 28 27 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH X X DEBORAH J BRANN CONTROLLER 6032294737 325 PLEASANT STREET CONCORD NH 03301 DR LAUREL D ABBRUZZESE 3.00 X 0 0 0 LAURA HILDESLEY BARTSCH 3.00 X 0 0 0 WILLIAM J BENNINGTON 3.00 X 0 0 0 EMILY L BOGLE 3.00 X 0 0 0 CANDACE E BROWNING-PLATT 3.00 X 0 0 0 REV PETER G CHENEY 3.00 X 0 0 0 HYUN-JOON CHO 3.00 X 0 0 0 ARCHIBALD COX JR 3.00 X 0 0 0 JAMES A DIAMOND 3.00 X 0 0 0 MARK D EICHORN 3.00 X 0 0 0 JAMES M FRATES 3.00 X X 0 0 0 SABRINA WING-YEE FUNG 3.00 X 0 0 0 CATHERINE A GELLERT 3.00 X 0 0 0 CHRISTOPHER D HEINZ 3.00 X 0 0 0 LUCY C HODDER 3.00 X 0 0 0 JAMES DEK HOUGHTON 3.00 X 0 0 0 PHILIP L LAIRD 3.00 X 0 0 0 JOHN A LECHNER 3.00 X 0 0 0 VICTOR M LOPEZ-BALBOA 3.00 X 0 0 0 SARAH BANKSON NEWTON 3.00 X 0 0 0 HILARY BEDFORD PARKHURST 3.00 X 0 0 0 SAMUEL S REID 3.00 X 0 0 0 DOUGLAS SCHLOSS 3.00 X X 0 0 0 ROBERT B STOCKMAN 3.00 X 0 0 0 JAMES M WATERBURY JR 3.00 X X 0 0 0 REEVE B WAUD 3.00 X 0 0 0 VICTOR C YOUNG 3.00 X 0 0 0 WILLIAM R MATTHEWS JR 3.00 X 284760 0 17106 MICHAEL G HIRSCHFELD 60.00 X X 333213 0 129729 MICHELLE L CHICOINE 50.00 X 257142 0 63476 WILLIAM L KISSICK 50.00 X 195193 0 36197 DR JOHN C BASSI 50.00 X 176306 0 52648 JADA L HEBRA 50.00 X 123963 0 66509 WILLIAM F MITCHELL 50.00 X 134566 0 42496 THOMAS P BAZOS 50.00 X 130404 0 46266 DEBORAH J BRANN 50.00 X 129490 0 35074 1765037 0 489501 18 1 1 0 CAMBRIDGE ASSOCIATES INC 100 SUMMER ST BOSTON MA 021102112 INVESTMENT CONSULTANT 274455 BANK OF NEW YORKMELLON 135 SANTILLI HIGHWAY EVERETT MA 02149 INVESTMENT CUSTODIAN 117292 CENTERBROOK ARCHITECTS AND PLANNERS LLP 67 MAIN STREET CENTERBROOK CT 06409 ARCHITECT 108730 3 23155197 1877431 23155197 TUITION & FEES 611710 27804757 27804757 27804757 1926504 1926504 10900 0 10900 10900 10900 206547518 16785 195932802 44769 10614716 -27984 10586732 1360203 9226529 187360 153435 33925 33925 CHILDREN'S LEARNING CT 624410 647826 647826 MISCELLANEOUS REVENUE 900099 75921 75921 723747 64241762 27880678 1360203 11845684 8441213 8441213 949368 417498 199818 332052 151461 59355 92106 17793263 15039649 861209 1892405 2072474 1757572 122750 192152 3102982 2572818 214740 315424 1314897 1111002 76461 127434 94025 94025 100875 100875 466382 466382 82428 53026 29402 199402 158325 8078 32999 531557 227524 47304 256729 579577 491895 67256 20426 4242861 4208770 6798 27293 694425 437968 20492 235965 46248 33731 10970 1547 1952170 1854561 19522 78087 6365946 6046951 63800 255195 715730 404987 293691 17052 SUPPLIES FOR PROGRAMS 1572720 1572720 EDU SUPPORT FOR PROGRAM 1354088 1354088 ENTERTAINMENT/SPEC EVNT 651279 510483 50460 90336 DUES AND MEMBERSHIPS 213007 186190 11715 15102 53688378 46827945 2848727 4011706 2654186 2246981 26677070 31972085 302972 309493 1717551 1729619 248890733 63751866 184560009 185138867 46864728 54925446 393419871 436564324 12001511 12187446 668197898 725074261 5557493 4486058 54931351 54775063 17999918 14510879 78488762 73772000 X 242683971 260647678 213734538 242927469 133290627 147727114 589709136 651302261 668197898 725074261 X 10553384 46466778 4572963 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 18833 18833 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: ST. PAUL'S SCHOOL IS A MEMBER OF A NUMBER OF ASSOCIATIONS SUCH AS THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS, COUNCIL OF ADVANCEMENT AND SUPPORT OF EDUCATION, THE NATIONAL ASSOCIATION OF COLLEGE & UNIVERSITY BUSINESS OFFICERS AND THE COALITION FOR RESIDENTIAL EDUCATION, WHICH MAY USE A PORTION OF MEMBERSHIP DUES TO LOBBY ON BEHALF OF ITS MEMBERS. ST. PAUL'S SCHOOL ALSO PAID RATH, YOUNG AND PIGNATELLI FOR LEGAL SERVICES REGARDING LEGISLATIVE ISSUES AS PART OF A GROUP OF NEW HAMPSHIRE INDEPENDENT SCHOOLS. TOTAL DUES AND FEES PAID TO THESE TYPES OF ORGANIZATIONS WAS $18,833 IN FISCAL YEAR 2013. THE PORTION OF DUES AND FEES ALLOCATED TO LOBBYING ACTIVITIES IS NOT DETERMINABLE. 1 0 280621 4962602 0 0 432930343 11684799 58407783 3684190 15038489 463489 483836757 440968798 10001733 -102251 3421917 14125000 391020 432930343 381381552 14074366 62509390 3242650 13370365 383495 440968798 346020647 6547171 45986761 2919625 13853902 399500 381381552 441911853 11023280 -87906057 2646161 15999213 363055 346020647 0.28000 0.72000 1 0 4697490 4697490 214375846 47579232 166796614 22497321 13257391 9239930 7320076 2915243 4404833 185138867 US EQUITY 67036854 F INTERNATIONAL EQUITY 93886922 F MARKETABLE ALTERNATIVES 166542094 F NON-MARKETABLE ALTERNATIVES 60910874 F INFLATION HEDGING 48187580 F 436564324 ADVANCE DEPOSITS 2858995 LIABILITIES UNDER SPLIT INTEREST AGREEMENTS 4751817 INTEREST RATE SWAP AGREEMENT 6900067 14510879 X 124602196 46466778 14388047 60854825 63747371 494391 494391 64241762 63009071 18876114 18876114 44132957 466382 9089039 9555421 53688378 PART I, LINE 5 & 6: THE SCHOOL HAS NO DONOR ADVISED FUNDS. PART V, LINE 4: THE SCHOOL'S ENDOWMENT FUNDS ARE USED IN PERPETUITY TO FUND THE SPS PROGRAMS. THE PRINCIPAL IS INVESTED FOR LONG-TERM GROWTH TO PRESERVE THE BUYING POWER OF THE ENDOWMENT FOR USE BY PRESENT AND FUTURE GENERATIONS OF STUDENTS. PART X, LINE 2: THE SCHOOL FOLLOWS FASB ASC 740, INCOME TAXES, REGARDING ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES BY PRESCRIBING THE RECOGNITION THRESHOLD A TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. MANAGEMENT BELIEVES THAT THE SCHOOL HAS NO MATERIAL UNCERTAINTIES IN INCOME TAXES. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID: -8,441,213 SPENDING POLICY: 18,722,679 ACTUARIAL ADJUSTMENT: 593,085 UREALIZED GAIN ON INTEREST RATE SWAP: 3,979,878 INVESTMENT FEES: -466,382 TOTAL: $14,388,047 PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD: -153,435 CHILDREN'S LEARNING CENTER REVENUE: 647,826 TOTAL: $494,391 PART XII, LINE 2D - OTHER ADJUSTMENTS: SPENDING POLICY: 18,722,679 COST OF GOODS SOLD: 153,435 TOTAL: $18,876,114 PART XII, LINE 4B - OTHER ADJUSTMENTS: CHILDREN'S LEARNING CENTER EXPENSES: 647,826 FINANCIAL AID: 8,441,213 TOTAL: $9,089,039 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 OUR POLICY IS PUBLISHED ANNUALLY IN A REGIONAL NEWSPAPER, INCLUDED IN ALL PROSPECTIVE STUDENT LITERATURE AND DISTRIBUTED TO STUDENTS IN OUR STUDENT HANDBOOK. THE POLICY IS ALSO NOTED ON OUR WEBSITE, AND IS INCLUDED WITH ALL EMPLOYMENT ADVERTISEMENTS INCLUDED IN NEWSPAPERS OR OTHER PUBLICATIONS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 MONIES RECEIVED ARE FROM VARIOUS FEDERAL OR STATE FOOD SUBSIDY PROGRAMS. EAST ASIA AND THE PACIFIC FUNDRAISING N/A 36296 EUROPE FUNDRAISING N/A 21877 NORTH AMERICA FUNDRAISING N/A 543 CENTRAL AMERICA & THE CARIBBEAN PROGRAM SERVICES PROGRAM SERVICES (SEE PART V) 27923 EAST ASIA AND THE PACIFIC PROGRAM SERVICES PROGRAM SERVICES (SEE PART V) 40369 EUROPE PROGRAM SERVICES PROGRAM SERVICES (SEE PART V) 99470 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES PROGRAM SERVICES (SEE PART V) 6613 NORTH AMERICA PROGRAM SERVICES PROGRAM SERVICES(SEE PART V) 675 CENTRAL AMERICA & THE CARIBBEAN INVESTMENTS N/A 216283529 EUROPE INVESTMENTS N/A 14973547 0 0 0 0 0 0 233766 231257076 231490842 1 0 1 1 1 0 PART I, LINE 3, COLUMN (E): REGIONS: CENTRAL AMERICA AND THE CARIBBEAN, EAST ASIA AND THE PACIFIC, EUROPE, NORTH AMERICA, AND MIDDLE EAST AND NORTH AFRICA. (E) SPECIFIC TYPES OF SERVICES IN REGION: PROGRAM SERVICE ACTIVITIES INCLUDE ADMISSIONS TRAVEL, FACULTY PROFESSIONAL DEVELOPMENT, AND OFF-CAMPUS PROGRAM STUDENT TRIPS. 1 FINANCIAL AID ASSISTANCE TO ATTEND ST. PAUL'S SCHOOL 195 8441213 FAIR MARKET VALUE FINANCIAL AID ASSISTANCE AWARDED TO ATTEND ST. PAUL'S SCHOOL PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: ANY STUDENT OR APPLICANT REQUESTING FINANCIAL AID FROM ST. PAUL'S SCHOOL MUST COMPLETE THE PERSONAL FINANCIAL STATEMENT (PFS) OFFERED BY THE SCHOOL AND STUDENT SERVICES - NAIS, AS WELL AS PROVIDE COPIES OF RECENT TAX INFORMATION BY A SPECIFIED DEADLINE. THE SCHOOL'S DIRECTOR OF FINANCIAL AID EVALUATES ALL APPLICATIONS USING THE PFS FORMULA AND DETERMINES THE FINANCIAL NEED OF EACH APPLICANT. STUDENTS THAT ARE DETERMINED TO HAVE FINANCIAL NEEDS ARE AWARDED GRANT FUNDS TO MEET 100% OF THEIR DETERMINED NEED. X X 1 1 X X X X X 0 1 0 0 0 0 0 0 1 1 WILLIAM R MATTHEWS JR 128024 0 0 0 156736 0 12431 0 4675 0 301866 0 112720 0 MICHAEL G HIRSCHFELD 333123 0 0 0 90 0 32100 0 97629 0 462942 0 0 0 MICHELLE L CHICOINE 256884 0 0 0 258 0 30974 0 32502 0 320618 0 0 0 WILLIAM L KISSICK 194983 0 0 0 210 0 25223 0 10974 0 231390 0 0 0 DR JOHN C BASSI 176306 0 0 0 0 0 21649 0 30999 0 228954 0 0 0 JADA L HEBRA 123873 0 0 0 90 0 16200 0 50309 0 190472 0 0 0 WILLIAM F MITCHELL 134404 0 0 0 162 0 17560 0 24936 0 177062 0 0 0 THOMAS P BAZOS 130008 0 0 0 396 0 15911 0 30355 0 176670 0 0 0 DEBORAH J BRANN 129232 0 0 0 258 0 15385 0 19689 0 164564 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - NONTAXABLE TRAVEL EXPENSES UNDER THE SCHOOL'S ACCOUNTABLE PLAN INCURRED FOR BONA FIDE BUSINESS PURPOSES ON BEHALF OF A FAMILY MEMBER OF MICHAEL G. HIRSCHFELD WERE PAID BY THE SCHOOL. HOUSING ALLOWANCE - ST. PAUL'S SCHOOL IS A COEDUCATIONAL FULLY RESIDENTIAL SCHOOL. AS A REQUIREMENT OF EMPLOYMENT, ALL FACULTY MEMBERS MUST LIVE ON CAMPUS AND ARE PROVIDED NONTAXABLE HOUSING BY THE SCHOOL. LISTED EMPLOYEES WHO RECEIVED SCHOOL HOUSING ARE AS FOLLOWS: - MR. MICHAEL G. HIRSCHFELD - $28,800 - MS. MICHELLE L. CHICOINE - $28,800 - DR. JOHN C. BASSI - $28,800 - MS. JADA L. HEBRA - $28,800 - MR. THOMAS P. BAZOS - $28,800 PART I, LINE 4B FORMER RECTOR MR. WILLIAM R. MATTHEWS PARTICIPATED IN THE SCHOOL'S NONQUALIFIED RETIREMENT PLAN AS DESCRIBED IN IRC SECTION 457(F). MR. MATTHEWS' DEFERRED COMPENSATION PLAN VESTED AS OF JUNE 30, 2011. FOR EACH FISCAL YEAR OF THE SCHOOL DURING THE TERM OF THE AGREEMENT, THE SCHOOL CREDITED A FIXED AMOUNT TO THE UNFUNDED DEFERRED COMPENSATION ACCOUNT. PURSUANT TO THIS PLAN, A PAYMENT OF $40,000 WAS MADE TO MR. MATTHEWS IN JULY 2012 AND IS INCLUDED IN SCHEDULE J, PART II, COLUMN B(III) AND (F). THIS PAYMENT WAS DISCOLOSED IN THE FY2012 FORM 990, SCHEDULE J, PART II, COLUMN (C). THIS NONQUALIFIED RETIREMENT PLAN WAS TERMINATED WITH THIS FINAL PAYMENT. PART I, LINE 8 MR. HIRSCHFELD'S EMPLOYMENT CONTRACT CONTAINS A FIXED SALARY PAYMENT WHICH WOULD BE SUBJECT TO THE INITIAL CONTRACT EXCEPTION. MR. HIRSCHFELD WAS NOT A DISQUALIFIED PERSON PRIOR TO ENTERING THE CONTRACT AS THE NEW RECTOR. A NHHEFA REVENUE BONDS ST PAUL'S SCHOOL 020279866 644614G45 2010-09-30 15217879 SEE PART VI 0 0 0 A 15217879 213618 15004261 2012 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 1 NATIXIS FUNDING CORP 1.166666700000 1 0 1 SCHEDULE K, PART I, COLUMN (F): DESCRIPTION OF PURPOSE: CONSTRUCTION AND/OR RENOVATION OF SCHOOL FACILITIES. 40795 SEE PART V UNITED EDUCATORS SEE PART V 223106 SEE PART V 0 PART III, GRANTS OR ASSISTANCE BENEFITTING INTERESTED PERSONS: (C) AMOUNT OF GRANT: $40,795(D) TYPE OF ASSISTANCE: NEED BASED SCHOLARSHIP(E) PURPOSE OF ASSISTANCE: SCHOLARSHIPPART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS:(A) NAMES OF INTERESTED PERSON: UNITED EDUCATORS (B) RELATIONSHIP BETWEEN INTERESTED PERSON AND THE ORGANIZATION: OFFICER, MICHELLE L. CHICOINE, SERVES AS A DIRECTOR (C) AMOUNT OF TRANSACTION: $223,106(D) DESCRIPTION OF TRANSACTION: INSURANCE PREMIUMS PAID BY ORGANIZATION(E) SHARING OF ORGANIZATION'S REVENUES? NO X 112 1877431 MARKET VALUE 1 0 1 1 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE SCHOOL IS REPORTING THE NUMBER OF CONTRIBUTIONS OF SECURITIES BASED ON THE NUMBER OF GIFTS RECEIVED. THIRD PARTY USE: PART I, LINE 32B: ALL STOCK GIFTS ARE RECEIVED, PROCESSED AND SOLD BY THE SCHOOL'S CUSTODIAN BANK. EXPLANATION FOR NOT FILING FORM 990-T FORM 990, PART V, LINE 3B ST. PAUL'S HAS FILED FORM 8868, APPLICATION FOR EXTENSION OF TIME TO FILE AN EXEMPT ORGANIZATION RETURN, TO REQUEST AN EXTENSION FOR FORM 990-T FOR THE TAX YEAR ENDING JUNE 30, 2013. FORM 990, PART VI, SECTION A, LINE 6 THE SCHOOL'S GOVERNING BODY CONSISTED OF TRUSTEES WHO HAVE THE RIGHT TO PARTICIPATE IN THE SCHOOL'S GOVERNANCE. ALL TRUSTEES HAVE THE SAME VOTING RIGHTS. THE FULL BOARD OF TRUSTEES MUST VOTE ON THE REMOVAL OF TRUSTEES OR THE HIRING OR FIRING OF THE RECTOR OR DISSOLUTION OF THE SCHOOL. THE FULL BOARD APPROVES SIGNIFICANT DECISIONS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7A CERTAIN DESIGNEES OF THE ALUMNI AND PARENTS ASSOCIATIONS SERVE AS MEMBERS OF THE BOARD OF TRUSTEES OF ST. PAUL'S SCHOOL AND HAVE THE SAME AUTHORITY AS OTHER ELECTED MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS PREPARED BY THE SCHOOL'S CONTROLLER AND REVIEWED BY THE CHIEF FINANCIAL OFFICER AS WELL AS THE SCHOOL'S OUTSIDE TAX FIRM PRIOR TO BEING PRESENTED TO THE AUDIT COMMITTEE. AN AUDIT COMMITTEE MEETING WAS HELD PRIOR TO THE FILING OF THE FORM 990. AT THIS TIME, THE FORM 990 WAS REVIEWED IN DETAIL AND APPROVED FOR SUBMISSION TO THE INTERNAL REVENUE SERVICE. PRIOR TO THE FINAL FORM BEING ELECTRONICALLY SUBMITTED TO THE INTERNAL REVENUE SERVICE A COPY WAS PROVIDED TO ALL THE MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C ST. PAUL'S SCHOOL MAINTAINS A WRITTEN CONFLICT OF INTEREST POLICY THAT IS INCLUDED IN THE SCHOOL'S POLICIES AND PROCEDURES MANUAL WHICH IS UPDATED AND DISSEMINATED TO ALL EMPLOYEES AND TRUSTEES ANNUALLY AND IS INCLUDED ON THE SCHOOL'S INTRANET. AT THE START OF EACH FISCAL YEAR, THE CHIEF FINANCIAL OFFICER OF THE SCHOOL REQUIRES THAT EACH TRUSTEE, OFFICER, AND KEY EMPLOYEE COMPLETES A CONFLICT OF INTEREST DISCLOSURE FORM. ANY CONFLICTS IDENTIFIED BY THE CONFLICT OF INTEREST DISCLOSURE FORM ARE SUMMARIZED IN A REPORT TO THE PRESIDENT OF THE BOARD OF TRUSTEES AND THE CHAIR OF THE TRUSTEES & GOVERNANCE COMMITTEE. THE BOARD OF TRUSTEES IS NOTIFIED OF ANY CONFLICTS AND ACTION, IF NECESSARY, IS TAKEN BY THE TRUSTEES. AT THE CONCLUSION OF THE FISCAL YEAR, PRIOR TO THE SUBMISSION OF THE FORM 990, A GOVERNING BODY MEMBER ANNUAL QUESTIONNAIRE IS PROVIDED TO EACH TRUSTEE, OFFICER AND/OR KEY EMPLOYEE. THIS QUESTIONNAIRE REQUIRES THE DISCLOSURE OF ANY CONFLICTS OF INTEREST THAT MAY HAVE EXISTED DURING THE PRIOR FISCAL YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE, CONSISTING SOLELY OF OUTSIDE DIRECTORS, IS RESPONSIBLE FOR ADMINISTERING THE COMPENSATION OF THE RECTOR AND ANY OTHER OFFICERS AND KEY EMPLOYEES. THE COMMITTEE MEETS APPROXIMATELY THREE TIMES A YEAR TO: 1. SET GOALS FOR THE RECTOR. 2. DETERMINE WHAT, IF ANY, OUTSIDE RESOURCES ARE NECESSARY TO SET APPROPRIATE COMPENSATION IN THAT YEAR. 3. HIRE ANY NECESSARY OUTSIDE CONSULTANTS. 4. REVIEW AND SET COMPENSATION BY A REVIEW OF COMPARABLE OUTSIDE DATA INCLUDING 990 AND PEER SCHOOL INFORMATION. 5. REVIEW THE RECTOR'S PERFORMANCE. 6. AMEND, IF NECESSARY, THE RECTOR'S EMPLOYMENT CONTRACT. 7. SET COMPENSATION FOR RECTOR, OTHER OFFICERS AND KEY EMPLOYEES. 8. REVIEW AND APPROVE THE MINUTES OF THE PREVIOUS COMPENSATION COMMITTEE MEETING. THE COMPENSATION COMMITTEE REPORTS ON ITS MEETINGS TO THE FULL BOARD OF TRUSTEES AND THE ACTIONS OF THE COMPENSATION COMMITTEE ARE RATIFIED AT THE NEXT MEETING OF THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 ST. PAUL'S SCHOOL MAKES AVAILABLE TO THE PUBLIC VIA ITS WEBSITE THE FOLLOWING GOVERNING DOCUMENTS: - BY-LAWS - INTERNAL REVENUE SERVICE TAX DETERMINATION LETTER - FILED FORM 990 FOR THE THREE MOST RECENT FISCAL YEARS - BOARD OF TRUSTEE COMMITTEE CHARTERS IN ADDITION, ST. PAUL'S SCHOOL MAKES THE AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE SCHOOL COMMUNITY (EMPLOYEES, PARENTS AND ALUMNI) VIA OUR SECURED PASSWORD PROTECTED WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON INTEREST RATE SWAP 3,979,878. ACTUARIAL ADJUSTMENT 593,085. ST PAUL'S SCHOOL - E BURKE ROSS JR NEW JERSEY FINANCIAL AID FUND LLC 172 SOUTH OCEAN BLVD PALM BEACH FL 33480 161673430 FINANCIAL AID FUND NJ 359718 4962602 ST PAUL'S SCHOOL CHARITABLE REMAINDER TRUST (7) CHARITABLE TRUST NH ST PAUL'S SCHOOL T 1 POOLED INCOME FUND (1) CHARITABLE TRUST NH ST PAUL'S SCHOOL T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 POOLED INCOME FUND (1) R 74358 FAIR VALUE