2012-03-06T14:44:32-06:00 2011-06-30 EISNERAMPER LLP 750 ROUTE 202 SOUTH SUITE 500 BRIDGEWATER NJ 08807 990 2010-07-01 221487185 FAR BROOK SCHOOL FARB 9733793442 52 GREAT HILLS ROAD SHORT HILLS NJ 07078 TONY STOVALL 9733793442 2012-03-01 1 DOUGLAS D TAPP CPA MST 9082185002 2010 2016-02-24 21:20:13Z MARY SUE FISHER 52 GREAT HILLS ROAD SHORT HILLS NJ 07078 9114792 0 X WWW.FARBROOK.ORG X 1948 NJ CO-ED INDEPENDENT DAY SCHOOL PROVIDING EDUCATION TO STUDENTS IN GRADES NURSERY THROUGH GRADE 8. OUR PURPOSE IS TO CREATE A SUPPORTIVE AND CARING COMMUNITY THAT CHERISHES LOVE OF LEARNING, CREATIVITY, AND INDIVIDUALITY. 18 17 72 300 0 0 584148 556189 5892300 5871525 112878 419540 216014 255384 6805340 7102638 583251 546318 0 0 4971562 5288402 0 0 469050 1591567 1446073 7146380 7280793 -341040 -178155 12284386 12489760 742701 1178680 11541685 11311080 CO-EDUCATIONAL INDEPENDENT DAY SCHOOL PROVIDING EDUCATION TO STUDENTS IN GRADES NURSERY THROUGH GRADE 8. OUR PURPOSE IS TO CREATE A SUPPORTIVE AND CARING COMMUNITY THAT CHERISHES LOVE OF LEARNING, CREATIVITY, AND INDIVIDUALITY. 0 0 5520553 546318 6126909 EDUCATION - A FAR BROOK EDUCATION TAKES PLACE IN AN ENVIRONMENT OF NATURAL BEAUTY AND INTIMACY, WHERE CHARACTER AND CITIZENSHIP ARE VALUED AS MUCH AS ACHIEVEMENT, PROCESS AS MUCH AS PRODUCT. IMPLICIT IN OUR PHILOSOPHY IS THE GOAL OF BRINGING STUDENTS TO THEIR HIGHEST LEVEL OF ACADEMIC AND PERSONAL COMPETENCY, BOTH FOR THEIR PRESENT AND IN PREPARATION FOR THEIR FUTURE EDUCATION. IT IS OUR DESIRE TO TOUCH THE LIFE OF EVERY CHILD SO THAT HE OR SHE MAY LIVE LIFE WISELY AND WITH GREAT JOY. GRANTS - FAR BROOK AWARDS FINANCIAL AID TO QUALIFIED FAMILIES AND TUITION REMISSION TO ELIGIBLE EMPLOYEES. THESE REPRESENT A DIRECT REDUCTION IN TUITION CHARGES AND PAYMENTS OTHERWISE OWED TO THE SCHOOL. THEY DO NOT TAKE THE FORM OF PAYMENTS TO THE RECIPIENTS. 5520553 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 32 0 1 72 1 0 0 0 0 0 0 0 0 0 0 0 X 18 17 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 0 0 1 1 0 X X DONNA CHAHALIS 9733793442 52 GREAT HILLS ROAD SHORT HILLS NJ 07078 MARY SUE FISHER 10.00 X X 0 0 0 CAROL CHARTOUNI 5.00 X X 0 0 0 JEFF KRONTHAL 5.00 X X 0 0 0 TONY STOVALL 5.00 X X 0 0 0 JOSEPH B BAKER 5.00 X 0 0 0 ALICE DAVISON 5.00 X 0 0 0 JAMES M DWORKIN 5.00 X 0 0 0 MARNIE STETSON 5.00 X 56115 0 32498 CARMINE FANELLE 5.00 X 0 0 0 GINA STRAIN 5.00 X 0 0 0 JANINE KANE 5.00 X 0 0 0 CHRIS SUSKO 5.00 X 0 0 0 TOM KLIGERMAN 5.00 X 0 0 0 MICHELLE SWITTENBERG 5.00 X 0 0 0 KATE LEE 5.00 X 0 0 0 BRADFORD WILEY 5.00 X 0 0 0 BARBARA PAGOS 5.00 X 0 0 0 TOMMASO ZANOBINI 5.00 X 0 0 0 AMY ZIEBARTH 50.00 X 112590 0 40134 JAMES BENZ 50.00 X 119102 0 51584 DONNA CHAHALIS 50.00 X 129120 0 19958 PAULA LEVIN 50.00 X 118300 0 12702 MURRAY LOPDELL LAWRENCE 0.00 X 113000 0 0 MARY WEARN WIENER 2.00 X 135000 0 0 783227 0 156876 6 1 1 0 0 556189 41882 556189 TUITION AND FEES 611710 5841025 5841025 TRANSPORTATION FEES 611710 30500 30500 5871525 212733 212733 2218961 2012154 206807 206807 206807 OTHER INCOME 900099 255384 255384 255384 7102638 6126909 0 419540 546318 546318 273500 56000 217500 3724785 2836285 593000 295500 285382 192507 70225 22650 692684 492157 130878 69649 312051 229845 58185 24021 12411 12411 12800 12800 83250 83250 63746 44062 19684 67764 34882 23929 8953 115737 83910 23147 8680 280905 244815 28090 8000 51849 41245 8754 1850 289949 259758 20128 10063 48081 48081 SCHOOL SUPPLIES, TRIPS 244985 244985 FOOD 65003 65003 TRANSPORTATION 43325 43325 66268 66268 7280793 5520553 1291190 469050 193076 874059 3390178 142017 85817 15164 3058 130921 10611 22100 7019569 3388604 3743527 3630965 4658892 7091009 782752 12284386 12489760 333738 540420 408963 638260 742701 1178680 X 7447575 6959297 569859 804528 3524251 3547255 11541685 11311080 12284386 12489760 X -178155 -52450 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4317936 23004 629879 42582 122216 4806021 3708759 6449 769509 44317 122464 4317936 4587427 59934 -773500 43060 122042 3708759 0.14670 0.73810 0.11520 0 0 73300 73300 6430765 2918812 3511953 515504 469792 45712 3630965 STRUCTURED SECURITIES 782752 F 782752 7102638 7280793 -178155 348471 -400921 -52450 -230605 6904791 348471 348471 6556320 546318 546318 7102638 6734475 0 6734475 546318 546318 7280793 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE SCHOOL MUST HOLD IN PERPETUITY AS WELL AS BOARD-DESIGNATED FUNDS. THE INVESTMENT OBJECTIVE OF THE ENDOWMENT FUNDS IS TO EARN AN EXPECTED RETURN THAT WILL (I) COVER THE DESIRED ANNUAL ALLOCATION TO THE OPERATING BUDGET (AS DETERMINED BY THE BOARD OF TRUSTEES), EXPECTED INFLATION, AND INVESTMENT FEES AND (II) PROVIDE LONG-TERM PRINCIPAL APPRECIATION. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") INTERPRETATION REGARDING ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTERPRISE'S FINANCIAL STATEMENTS, IN ACCORDANCE WITH ACCOUNTING FOR INCOME TAXES. THE SCHOOL RECOGNIZES ACCRUED INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS, IF ANY. THERE WERE NO INCOME TAX-RELATED INTEREST AND PENALTIES RECORDED FOR YEAR ENDED JUNE 30, 2011. THE INCOME TAX RETURNS OF THE SCHOOL FOR JUNE 30, 2010, 2009 AND 2008 ARE SUBJECT TO EXAMINATION BY THE IRS AND OTHER VARIOUS TAXING AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. PART XI, LINE 8 - OTHER ADJUSTMENTS: RESTATEMENT TO REFLECT CORRECTION OF ERROR ON PRIOR FINANCIAL STATEMENT: -400,921. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSES NOT INCLUDED ON FORM 990, PART VIII, LINE 2G 546,318. PART XIII, LINE 4B - OTHER ADJUSTMENTS: ADDITIONAL EXPENSE WHEN INCLUDING FINANCIAL AID EXPENSE 546,318. 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 THE SCHOOL PUBLISHES ITS RACIALLY NON-DISCRIMINATORY POLICY IN LOCAL NEWSPAPERS. 1 FINANCIAL AID 33 546318 PART I LINE 2 FINANCIAL AID IS GRANTED TO STUDENTS ACCORDING TO NEED WHICH IS DETERMINED BY AN APPLICATION PROCESS. X 1 1 X X X 0 0 0 0 0 0 0 0 0 AMY ZIEBARTH 105090 0 0 0 7500 0 10500 0 29634 0 152724 0 0 0 JAMES BENZ 119102 0 0 0 0 0 9656 0 41928 0 170686 0 0 0 MURRAY LOPDELL LAWRENCE 0 0 0 0 113000 0 0 0 0 0 113000 0 0 0 MARY WEARN WIENER 125000 0 0 0 10000 0 0 0 0 0 135000 0 0 0 X 3 32882 SALE OF STOCKS X TOYS 1 5000 FAIR MARKET VALUE X SPORTS EQUIPMENT 1 4000 FAIR MARKET VALUE 0 0 1 1 THIRD PARTY USE: PART I, LINE 32B: THE SCHOOL MAINTAINS A BROKERAGE ACCOUNT TO SELL SECURITIES THAT ARE DONATED. FORM 990, PART VI, SECTION A, LINE 4 THE BOARD OF TRUSTEES AMENDED THE SCHOOL'S BYLAWS TO INCORPORATE A WRITTEN NONDISCRIMINATION POLICY. THIS AMENDMENT BECAME EFFECTIVE ON JULY 20, 2011. FORM 990, PART VI, SECTION A, LINE 6 THE SCHOOL'S MEMBERS ARE THE PARENTS AND LEGAL GUARDIANS OF THE CHILDREN ENROLLED IN THE SCHOOL. FORM 990, PART VI, SECTION A, LINE 7A THESE MEMBERS ELECT THE BOARD OF TRUSTEES ANNUALLY. FORM 990, PART VI, SECTION A, LINE 7B THE SCHOOL'S BYLAWS PROVIDE MEMBERS WITH THE RIGHT TO VOTE WITH RESPECT TO (A) THE ELECTION AND RECALL OF TRUSTEES; (B) AMENDMENTS TO THE BYLAWS; AND (C) AMENDMENTS TO THE CERTIFICATE OF INCORPORATION. FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE AND TREASURER REVIEW THE 990 AND RECOMMENDS FOR BOARD APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD HAS A CONFLICT OF INTEREST POLICY FOR ITS MEMBERS WHICH REQUIRES WRITTEN DISCLOSURE EACH YEAR OF ACTUAL AND POTENTIAL CONFLICTS BASED ON DEFINITIONS CONTAINED IN THE POLICY. THERE IS AN ONGOING OBLIGATION TO UPDATE DISCLOSURES IF CIRCUMSTANCES CHANGE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD REVIEWS AND SETS COMPENSATION FOR THE ORGANIZATION'S HEAD. THE BOARD AND MANAGEMENT REVIEW AND SET COMPENSATION FOR ALL OTHER POSITIONS IN A PROCESS THAT CONSIDERS COMPARABLE PAY DATA. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS ANNUAL REPORT, WHICH INCLUDES FINANCIAL STATEMENTS, AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO ITS MEMBERS UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 348,471. RESTATEMENT TO REFLECT CORRECTION OF ERROR ON PRIOR FINANCIAL STATEMENT: -400,921. TOTAL TO FORM 990, PART XI, LINE 5: -52,450. FORM 990, PART XII, LINE 2C: THERE HAVE BEEN NO CHANGES TO THESE PROCESSES DURING THE TAX YEAR.