2012-04-02T16:53:33-05:00 2011-06-30 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2010-07-01 042103563 TRUSTEES OF DEERFIELD ACADEMY TRUS 4137720241 PO BOX 87 DEERFIELD MA 013420087 KEITH FINAN 4137740241 2012-03-27 1 ELIZABETH SOLECKI 8605614000 2010 2016-02-24 21:20:13Z KEITH FINAN PO BOX 87 DEERFIELD MA 013420087 109301428 0 X WWW.DEERFIELD.EDU X 1797 MA DEERFIELD ACADEMY IS AN INDEPENDENT SECONDARY SCHOOL COMMITTED TO HIGH STANDARDS OF SCHOLARSHIP, CITIZENSHIP, AND PERSONAL RESPONSIBILITY. THROUGH A RIGOROUS LIBERAL ARTS CURRICULUM, EXTENSIVE CO-CURRICULAR PROGRAM, AND SUPPORTIVE RESIDENTIAL ENVIRONMENT, DEERFIELD ENCOURAGES EACH STUDENT TO DEVELOP AN INQUISITIVE AND CREATIVE MIND, SOUND BODY, AND STRONG MORAL CHARACTER. 29 26 637 777 1674683 1230053 22086224 33514329 27936688 28680146 5415368 9611757 1788344 624615 57226624 72430847 6899919 6621386 0 0 20354309 24714034 63176 157333 4960196 15594316 21066425 42911720 52559178 14314904 19871669 506665951 573685197 55734529 52563540 450931422 521121657 X DEERFIELD ACADEMY IS AN INDEPENDENT SECONDARY SCHOOL COMMITTED TO HIGH STANDARDS OF SCHOLARSHIP, CITIZENSHIP, AND PERSONAL RESPONSIBILITY. THROUGH A RIGOROUS LIBERAL ARTS CURRICULUM, EXTENSIVE CO-CURRICULAR PROGRAM, AND SUPPORTIVE RESIDENTIAL ENVIRONMENT, DEERFIELD ENCOURAGES EACH STUDENT TO DEVELOP AN INQUISITIVE AND CREATIVE MIND, SOUND BODY, AND STRONG MORAL CHARACTER. 0 0 39763967 6621386 28680146 DURING THE 2010-2011 ACADEMIC YEAR, 562 BOARDING AND 74 DAY STUDENTS WERE ENROLLED AT DEERFIELD ACADEMY. OUR PROGRAMS OF SECONDARY EDUCATION, (GRADES 9-12), INCLUDE THE DEVELOPMENT OF OUR STUDENTS' ACADEMIC AND SCHOLARSHIP SKILLS, CITIZENSHIP AND CHARACTER. COMMUNITY SERVICE, ATHLETIC PROGRAMS AND EXTRA-CURRICULAR ACTIVITIES ARE INTEGRATED AS A PART OF THE SCHOOL'S LONGSTANDING INTELLECTUAL AND MORAL TRADITION. 39763967 1 1 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 146 0 1 637 1 1 1 0 0 0 0 0 0 0 0 0 X 29 26 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MA X JULIE COLLINS CONTROLLER 4137720241 DEERFIELD ACADEMY DEERFIELD MA 013420087 BRADDOCK CARRIE 2.00 X 0 0 0 BRONFMAN SAMUEL 2.00 X 0 0 0 CASHIN LISA 2.00 X 0 0 0 CHO TAY 2.00 X 0 0 0 COHEN H RODGIN 3.00 X X 0 0 0 COWAN RORY J 2.00 X 0 0 0 CURTIS MARGARITA O'BYRNE 60.00 X X 348108 0 121783 GROSSMAN MATTHEW 2.00 X 0 0 0 EVANS SIDNEY H 2.00 X 0 0 0 HAVENS JOHN 2.00 X 0 0 0 GREER PHILIP 8.00 X X 0 0 0 GROSSMAN ROBIN 3.00 X X 0 0 0 HACK RANDALL A 5.00 X X 0 0 0 DENUNZIO DAVID 2.00 X 0 0 0 HESS JOHN B 2.00 X 0 0 0 KLEINER DIANA E 2.00 X 0 0 0 KNIGHT GORDON 2.00 X 0 0 0 ROBERTSON J SPENCER 2.00 X 0 0 0 MCENIRY ROGER S 2.00 X 0 0 0 FARMER KATHERINE 2.00 X 0 0 0 MATTOON ROBERT 2.00 X 0 0 0 STRANDBERG DIANA S 2.00 X 0 0 0 STROTHMAN WENDY J 2.00 X 0 0 0 TERRY LUTHER 2.00 X 0 0 0 WHITTON LINDA 2.00 X 0 0 0 WEYMOUTH PHILIP B 2.00 X 0 0 0 WALLACH SUSAN 2.00 X 0 0 0 SIMMONS BRIAN 2.00 X 0 0 0 KOCH DAVID 2.00 X 0 0 0 MANORY JOSEPH 60.00 X 229127 0 86532 STOBIERSKI JOHN 9.00 X 92125 0 0 POND DAVID 60.00 X 260733 0 74461 HAGAMEN THOMAS 60.00 X 186346 0 77635 GIMBEL PATRICIA 60.00 X 144360 0 52065 TAYLOR JOHN 60.00 X 147254 0 67440 BICKNELL STEWART 60.00 X 130979 0 31056 LYMAN MARTHA 60.00 X 135649 0 23913 1674681 0 534885 21 0 1 0 SERVPRO 264 MOODY STREET LUDLOW MA 01056 FIRE RESTORATION 1115370 KUHN-RIDDLE ARCHITECTS 7 NORTH PLEASANT STREET AMHERST MA 01002 ARCHITECTURAL CONSULTING 214402 SUNGARD INC PO BOX 7777-W6825 PHILADELPHIA PA 19175 COMPUTER SOFTWARE SUPPORT 148908 LOCOCO PAINTING COMPANY 90 NORTH MAPLE STREET FLORENCE MA 01062 PAINTING 138350 ARC FIVE CAMBRIDGE CENTER CAMBRIDGE MA 02142 ARCHITECTURAL CONSULTING 128705 8 33514329 2889307 33514329 TUITION AND FEES 611710 27770045 27770045 AUXILIARY PROGRAMS 611710 752603 752603 SUMMER EDUCATION 611710 157498 157498 28680146 6267561 892915 5374646 39726613 16000 36398417 3328196 16000 3344196 625869 2718327 911343 472164 439179 439179 SUMMER SPORTS CAMPS & 713940 84521 84521 FUNCTION REVENUE 900099 71378 71378 OTHER REVENUE 900099 29537 29537 185436 72430847 28680146 1674683 8561689 135624 135624 6485762 6485762 1442013 101502 983733 356778 67818 36114 31704 17148222 12532414 2590946 2024862 1743222 1275478 178187 289557 3063393 2298562 462312 302519 1249366 896117 194945 158304 181855 181855 80455 80455 157333 157333 572643 572643 223971 20278 102560 101133 898633 383616 251909 263108 980320 562386 317020 100914 3400307 3142904 214219 43184 572336 193457 95828 283051 344209 172621 65689 105899 1827114 1827114 5607999 5183473 353304 71222 430471 397884 27120 5467 LOSS ON DEBT REFINANCIN 1934477 1934477 FOOD 973317 786803 44979 141535 OTHER TAXES 475000 475000 TEXTBOOKS 373779 371109 1952 718 PUBLICATIONS 355228 87906 267322 1834311 1026272 520749 287290 52559178 39763967 7835015 4960196 10191 10154 29595504 34186768 21225705 28206110 1026491 353098 241645 231311 788882 530465 585831 791739 175023768 33487655 138765047 141536113 158390477 193096819 155445240 174178562 590938 564058 506665951 573685197 8968198 4129856 2011808 2307711 41761781 42862323 2992742 3263650 55734529 52563540 X 196791916 213551825 117543059 148360841 136596447 159208991 450931422 521121657 506665951 573685197 X 19871669 50318566 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 318585485 21769820 59408655 5614078 12012478 570000 381567404 306341192 9090134 15917331 3650561 8446693 665918 318585485 367307114 4267164 -37559313 5759649 21106154 807970 306341192 0.25000 0.42000 0.33000 1 0 643684 643684 146376450 23383992 122992458 20015066 8058852 11956214 7988568 2044811 5943757 141536113 HEDGE FUNDS 94757493 F ALTERNATIVE ASSETS 73241507 F CASH AND CASH EQUIVALENTS 6179562 F 174178562 LIFE INCOME OBLIGATIONS 3263650 3263650 72430847 52559178 19871669 50318566 50318566 70190235 115839128 50318566 -7382449 42936117 72903011 -472164 -472164 72430847 45648893 472164 472164 45176729 570000 6812449 7382449 52559178 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: FINANCIAL AID, FACULTY SALARIES, PROFESSIONAL DEVELOPMENT, GENERAL OPERATIONS, AND OTHER. PART XII, LINE 2D - OTHER ADJUSTMENTS: GRANTS-FINANCIAL AID -6,610,449. UNRELATED BUSINESS INCOME TAX EXPENSE -202,000. INVESTMENT EXPENSE -570,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -472,164. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 472,164. PART XIII, LINE 4B - OTHER ADJUSTMENTS: GRANTS-FINANCIAL AID 6,610,449. UNRELATED BUSINESS INCOME TAX EXPENSE 202,000. 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 BY PUBLICATION IN REGIONAL NEWSPAPERS - "THE BOSTON GLOBE". THIS IS DONE ANNUALLY. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 RECRUITMENT AND DEVELOPMENT 28620 CENTRAL AMERICA AND THE CARIBBEAN 0 0 RECRUITMENT AND DEVELOPMENT 11288 SOUTH AMERICA 0 0 RECRUITMENT AND DEVELOPMENT 1000 EAST ASIA AND THE PACIFIC 0 0 RECRUITMENT AND DEVELOPMENT 145042 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES FINANCIAL AID FOR STUDY ABROAD 7550 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES FINANCIAL AID FOR STUDY ABROAD 16000 SUB-SAHARAN AFRICA 0 0 RECRUITMENT AND DEVELOPMENT 929 MIDDLE EAST AND NORTH AFRICA 0 0 RECRUITMENT AND DEVELOPMENT 6000 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 52332542 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 1092093 0 0 0 0 0 0 216429 53424635 53641064 1 0 1 1 1 0 X X X X 1 MARTS & LUNDY 1200 WALL STREET WEST LYNDHURST NJ 07071 CONSULTS ON STRATEGIC COMMUNICATION 0 0 67291 0 GENERATION 55 WASHINGTON STREET NO 802 BROOKLYN NY 11201 CONSULTS ON STRATEGIC COMMUNICATION 0 0 59042 0 CAVALLARI STEWART 25 MAIN STREET SUITE 445 NORTHAMPTON MA 01060 CONSULTS ON STRATEGIC COMMUNICATION 0 0 31000 0 157333 1 DEERFIELD AREA FIRE PROTECTION DISTRICT 501(C)(4) 14000 CHARITABLE TOWN OF DEERFIELD 501(C)(3) 72500 7594 OUT-OF-POCKET COST OUT-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE FIRST CHURCH OF DEERFIELD 501(C)(3) 14150 CHARITABLE 2ND HELPINGS 501(C)(3) 1883 9063 OUT-OF-POCKET COST OUT-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE DEERFIELD ELEMENTARY SCHOOL 501(C)(3) 6409 OUT-OF-POCKET COST OUT-POCKET-EXPENSES WHILE PROVIDING SERVICES CHARITABLE CHARITABLE 4 1 SCHOLARSHIPS 192 0 6361644 CASH VALUE TUITION & FEES OTHER STUDENT SUPPORT 78 32935 91183 CASH VALUE OTHER STUDENT SUPPORT PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANTS ARE PROVIDED VIA A REDUCTION IN TUITION. X X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 CURTIS MARGARITA O'BYRNE 319014 0 0 0 29094 0 65160 0 56623 0 469891 0 0 0 MANORY JOSEPH 229127 0 0 0 0 0 30552 0 55980 0 315659 0 0 0 POND DAVID 238597 0 0 0 22136 0 32035 0 42426 0 335194 0 0 0 HAGAMEN THOMAS 164346 0 0 0 22000 0 25777 0 51858 0 263981 0 0 0 GIMBEL PATRICIA 144360 0 0 0 0 0 18262 0 33803 0 196425 0 0 0 TAYLOR JOHN 147254 0 0 0 0 0 18903 0 48537 0 214694 0 0 0 BICKNELL STEWART 115579 0 0 0 15400 0 17384 0 13672 0 162035 0 0 0 LYMAN MARTHA 113649 0 0 0 22000 0 17145 0 6768 0 159562 0 0 0 PART I, LINE 1A FIRST CLASS TRAVEL IS ALLOWED FOR INTERNATIONAL TRIPS ONLY. CERTAIN PERSONAL SERVICES ARE PROVIDED TO THE HEAD OF SCHOOL AND SPOUSE, TO ASSIST THEM IN FULFILLING THEIR RESPONSIBILITIES AND DUTIES TO THE ACADEMY. THESE POLICIES ARE IN WRITING. EMPLOYEES WHO ARE PROVIDED HOUSING ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. THESE HOMES ARE AVAILABLE FOR HOUSING VISITORS AND FOR OTHER USES DURING SCHOOL SPONSORED EVENTS. PART I, LINE 1B FIRST CLASS TRAVEL IS ALLOWED FOR INTERNATIONAL TRIPS ONLY. CERTAIN PERSONAL SERVICES ARE PROVIDED TO THE HEAD OF SCHOOL AND SPOUSE, TO ASSIST THEM IN FULFILLING THEIR RESPONSIBILITIES AND DUTIES TO THE ACADEMY. THESE POLICIES ARE IN WRITING. PART I, LINE 4B MARGARITA O'BYRNE CURTIS PARTICIPATES IN A 457(F) PLAN. SHE WAS AWARDED $33,125 DURING THE YEAR. DAVID POND PARTICIPATES IN A 457(F) PLAN. HE WAS AWARDED $0 DURING THE YEAR. MA DEVELOPMENT FINANCE AGENCY 043431814 57583R3N3 2010-11-10 42925825 TO REFUND PRIOR ISSUES DATED 11/1/1997, 6/26/2003, & 7/16/2008. 0 0 0 42925825 40506 42328508 556811 2010 1 1 1 1 0 0 0 0 0.01300 0.00000 0.01300 1 1 0 0 0 0 1 VARIOUS STUDENT FINANCIAL AID HESS CORP JOHN HESS IS A TRUSTEE OF DEERFIELD AND AN OFFICER OF HESS CORP. 673902 FUEL OIL SUPPLIER TO DEERFIELD 0 MANNING CURTIS SPOUSE OF HEAD OF SCHOOL 35227 EMPLOYMENT 0 SUZANNE MANORY SPOUSE OF CFO 29825 EMPLOYMENT 0 X 1 3500 APPRAISAL X 60 $1 PER BOOK X 122 2869465 MARKET VALUE X OTHER 19 16282 COST 1 0 1 1 THIRD PARTY USE: PART I, LINE 32B: DEERFIELD ACADEMY USES A STOCKBROKER TO SELL GIFTS OF PUBLICLY TRADED SECURITIES. FORM 990, PART VI, SECTION A, LINE 7A EXISTING BOARD MEMBERS VOTE IN NEW BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 COPIES OF THIS 2010 FORM 990 WERE SENT TO THE AUDIT COMMITTEE AND THE BOARD PRESIDENT, VICE PRESIDENT AND TREASURER, WHICH REPRESENTS 30% OF THE ENTIRE BOARD. PRIOR TO FILING, A MEETING WITH THE AUDIT COMMITTEE MEMBERS AND MANAGEMENT TOOK PLACE IN ORDER TO REVIEW THE RETURN AND ANSWER ALL QUESTIONS. THIS FORM 990, EXCLUDING SCHEDULE B, WAS PROVIDED TO ALL OTHER MEMBERS OF THE BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BY-LAWS PROHIBIT A TRUSTEE FROM VOTING, APPROVING, OR MAKING A RECOMMENDATION REGARDING A TRANSACTION BETWEEN THE ACADEMY AND AN ENTITY IN WHICH THE INDIVIDUAL OR A MEMBER OF HIS OR HER FAMILY HAS AN OWNERSHIP INTEREST. FORM 990, PART VI, SECTION B, LINE 15A DEERFIELD ACADEMY'S BOARD OF TRUSTEES OVERSEES THE COMPENSATION OF THE ACADEMY'S TOP MANAGEMENT OFFICIALS. HEAD OF SCHOOL - THE PERSONNEL & COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS SALARY AND PERQUISITE DATA FROM OTHER INDEPENDENT SCHOOLS FOR THE POSITION OF HEAD OF SCHOOL TO ENSURE SALARIES ARE REASONABLE AND APPROPRIATE TO THE MARKET. MINUTES OF THE PERSONNEL & COMPENSATION COMMITTEE MEETING ARE MAINTAINED DOCUMENTING THE DISCUSSIONS REGARDING THE SALARY SETTING FOR THE HEAD OF SCHOOL. SENIOR STAFF - THE HEAD OF SCHOOL REVIEWS, IN CONJUNCTION WITH THE PRESIDENT OF THE BOARD, SALARY AND PERQUISITE DATA FROM OTHER INDEPENDENT SCHOOLS FOR OTHER TOP MANAGEMENT OFFICIALS, TO ENSURE SALARIES ARE REASONABLE AND APPROPRIATE TO THE MARKET. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 50,318,566.