2012-10-12T14:07:23-05:00 2012-06-30 221478099 COHNREZNICK LLP 180 GLASTONBURY BOULEVARD GLASTONBURY CT 06033 990 2011-07-01 141413770 MILLBROOK SCHOOL MILL 8456778261 131 MILLBROOK SCHOOL ROAD MILLBROOK NY 12545 ROBERT W CONNOLLY 8456778261 2012-10-12 1 JOHN TOSCANO CPA P00358542 8606333000 2011 2016-02-24 21:20:13Z DREW CASERTANO 131 MILLBROOK SCHOOL ROAD MILLBROOK NY 12545 22622060 0 X WWW.MILLBROOK.ORG X 1932 NY MILLBROOK SCHOOL IS A COEDUCATIONAL, COLLEGE PREPARATORY SCHOOL WHICH OFFERS COLLEGE PREPARATORY EDUCATION TO ITS BOARDING AND DAY STUDENTS. 21 20 169 0 0 0 6760034 6682286 12108090 13125458 639608 617646 107938 76420 19615670 20501810 2471509 2568900 0 0 7123871 7684671 44960 50479 1180472 6477526 6613687 16117866 16917737 3497804 3584073 72167369 78195483 11736464 14588470 60430905 63607013 X MILLBROOK SCHOOL IS A SMALL, COEDUCATIONAL, COLLEGE PREPARATORY BOARDING SCHOOL WHERE CLOSE, NURTURING, AND STIMULATING RELATIONSHIPS BETWEEN STUDENTS AND THEIR TEACHERS HAVE BEEN THE SCHOOL'S HALLMARK SINCE ITS FOUNDING. OUR GOAL IS TO PROMOTE IN EACH STUDENT THE INTELLECTUAL, EMOTIONAL, SPIRITUAL, AND PHYSICAL GROWTH WHICH WILL LEAD TO A LIFE BOTH INDIVIDUALLY SATISFYING AND VALUABLE TO THE GREATER SOCIETY. 0 0 13957434 2568900 13201878 INDEPENDENT SECONDARY EDUCATION FOR APPROXIMATELY 275 BOARDING AND DAY STUDENTS. 13957434 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 1 91 0 1 169 1 0 0 0 0 0 0 0 0 0 0 X 21 20 1 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 NY X ROBERT W CONNOLLY 8456778261 131 MILLBROOK SCHOOL ROAD MILLBROOK NY 12545 WILLIAM B MCNAMARA 1.00 X X 0 0 0 PAUL SOLOMON 1.00 X X 0 0 0 HAMPTON S LYNCH III 1.00 X X 0 0 0 DREW J CASERTANO 40.00 X X 339816 0 164577 DREW W EFFRON 1.00 X 0 0 0 PETER R CHAPMAN 1.00 X 0 0 0 CYNTHIA CHACE GRAY 1.00 X 0 0 0 WILLIAM L CROSSMAN 1.00 X 0 0 0 WILLIAM R HETTINGER 1.00 X 0 0 0 CHRISTOPHER HOLBROOK 1.00 X 0 0 0 SANDRA HOLBROOK JAMES 1.00 X 0 0 0 WILLIAM L MENARD 1.00 X 0 0 0 TRACY MERRILL 1.00 X 0 0 0 MARTIN W LYNN 1.00 X 0 0 0 GORDON S PENNOYER 1.00 X 0 0 0 ANNE B PUTNAM 1.00 X 0 0 0 BRADLEY REIFLER 1.00 X 0 0 0 GILBERT P SCHAFER III 1.00 X 0 0 0 RICHARD STUCKEY 1.00 X 0 0 0 CAROLINE A WAMSLER 1.00 X 0 0 0 GEORGE T WHALEN III 1.00 X 0 0 0 ROBERT CONNOLLY 40.00 X 151298 0 23834 ROBERT ANTHONY 40.00 X 119683 0 28191 610797 0 216602 3 0 1 0 KIRCHHOFF - CONSIGLI CONSTRUCTION MANAGE 199 WEST ROAD SUITE 100 PLEASANT VALLEY NY 12569 CONSTRUCTION 1730033 ARAMARK CORPORATION PO BOX 198532 ATLANTA GA 303848532 FOOD SERVICE 1080576 CLARK COMPANIES BURTON F CLARK INC DELHI NY 13753 CONSTRUCTION 419191 VOITH & MACTAVISH 1616 WALNUT STREET 24TH FLOOR PHILADELPHIA PA 19103 ARCHITECTURE 401408 HAUFE CONTRACTORS 575 SALT POINT TURNPIKE POUGHKEEPSIE NY 12602 GENERAL CONTRACTORS 102159 5 52894 6629392 156325 6682286 TUITION AND FEES, NET 611110 12671472 12671472 PROGRAM SUPPORTING REV 611110 453986 453986 13125458 616942 616942 2041353 2040649 704 704 704 156021 79601 76420 76420 20501810 13201878 0 617646 2568900 2568900 694006 437004 257002 5165604 4680779 129617 355208 320177 273538 10134 36505 1056754 882400 71770 102584 448130 362170 40241 45719 41220 41220 53125 53125 50479 50479 17549 17549 5228 5228 83865 35528 38707 9630 667753 534202 120196 13355 76874 69187 7687 376255 301004 75251 1635769 1145038 408942 81789 293354 264019 29335 FOOD SERVICE 904408 904408 INSTRUCTIONAL, ATHLETIC 583094 583094 REPAIRS AND MAINTENANCE 447656 402890 31336 13430 ALUMNI, PUBLICATION, AN 282038 70510 211528 1145499 945049 197207 3243 16917737 13957434 1779831 1180472 4956 704 495054 3420224 4653360 4731605 161120 116572 84549 109430 210661 177085 65450802 21193583 41427293 44257219 20723368 20047788 3910920 4835200 496088 499656 72167369 78195483 1214917 2280039 1516946 4537306 7914187 7740709 1079483 10931 30416 11736464 14588470 X 39984806 42873810 4655714 4618508 15790385 16114695 60430905 63607013 72167369 78195483 X 3584073 -407965 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 142155 X X 0 25016738 1065982 206348 1010433 25278635 19869758 4326001 3071183 2250204 25016738 20406046 760667 2408687 3705642 19869758 23141714 913145 -3235917 412896 20406046 0.30300 0.63750 0.05950 0 0 1199517 1199517 57511007 18314730 39196277 3604953 2878853 726100 3135325 3135325 44257219 HEDGE FUND 4335247 F INVESTMENT IN PARTNERSHIP 499953 C 4835200 STUDENT DEPOSITS 30416 30416 20501810 16917737 3584073 -413713 5748 -407965 3176108 17598798 -413713 79601 -334112 17932910 2568900 2568900 20501810 14428438 79601 79601 14348837 2568900 2568900 16917737 PART III, LINE 1A: THE SCHOOL HAS A COLLECTION OF ARTWORK, RECORDED AT $142,155, WHICH IS ON PUBLIC DISPLAY THROUGHOUT ITS CAMPUS BUILDINGS. THE SCHOOL FOLLOWS A POLICY OF CAPITALIZING THE COLLECTION OF ARTWORK IN ITS FINANCIAL STATEMENTS. ACCORDINGLY, COLLECTION ITEMS ARE RECOGNIZED AS ASSETS, WHETHER THEY ARE PURCHASED OR RECEIVED AS A CONTRIBUTION. PART III, LINE 4: THE ART COLLECTIONS GENERALLY REPRESENTS PAINTINGS, PICTURES, AND SCULPTURES THAT HAVE BEEN RECEIVED AS DONATIONS. THEY ARE DISPLAYED AT VARIOUS LOCATIONS THROUGHOUT THE CAMPUS. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: INCOME FROM THE SCHOOL'S ENDOWMENT IS APPROPRIATED FOR STUDENT FINANCIAL AID, TEACHER'S SALARIES AND BENEFITS, AND OPERATING EXPENSES OF THE SCHOOL. APPROPRIATIONS ARE MADE IN ACCORDANCE WITH DONOR RESTRICTIONS, AND THE SCHOOL'S APPROVED SPENDING POLICY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SCHOOL HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2012. THE SCHOOL'S U.S. FEDERAL INFORMATION RETURNS PRIOR TO FISCAL YEAR 2009 ARE CLOSED AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. IF THE SCHOOL HAD UNRELATED BUSINESS INCOME TAXES, IT WOULD RECOGNIZE INTEREST AND PENALTIES ASSOCIATED WITH ANY TAX MATTERS AS PART OF THE INCOME TAX PROVISION AND INCLUDE ACCRUED INTEREST AND PENALTIES WITH THE RELATED TAX LIABILITY IN THE STATEMENT OF FINANCIAL POSITION. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUE OF CHARITABLE TRUST 5,748. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 79,601. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,568,900. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 79,601. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,568,900. 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 1) ANNUALLY IN THE NEW YORK TIMES AND LOCAL NEWPAPERS 2) CATALOGUES MAILED TO POTENTIAL STUDENTS 3) WEBSITE X X X X X 1 MARTS AND LUNDY 1200 WALL STREET WEST LYNDHURST NJ 07071 FUNDRAISING CONSULTING 0 0 50479 -50479 50479 -50479 NY 1 67FINANCIAL AID TO STUDENTS 67 2215275 FAIR MARKET VALUE GRANTS REPRESENT FINANCIAL AID PROVIDED TO STUDENTS BASED UPON NEED. FINANCIAL AID TO FACULTY MEMBERS STUDENTS 11 353625 FAIR MARKET VALUE FAMILY MEMBERS OF FACULTY STAFF ARE PROVIDED FREE TUITION. PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANTS ARE IN THE FORM OF TUITION, FEES OR OTHER INCIDENTAL COST WAIVERS BASED UPON FINANCIAL NEED. X X 0 0 X X X X 0 1 0 0 0 0 0 0 0 DREW J CASERTANO 271992 0 0 0 67824 0 148159 0 16418 0 504393 0 0 0 ROBERT CONNOLLY 151298 0 0 0 0 0 7565 0 16269 0 175132 0 0 0 PART I, LINE 1A MOST FACULTY MEMBERS ARE REQUIRED TO LIVE ON CAMPUS. ACCORDINGLY, THE SCHOOL PROVIDES HOUSING TO ALL ELIGIBLE FACULTY MEMBERS BASED ON AVAILABILITY. IN ADDITION, PER THE TERMS OF THE EMPLOYMENT AGREEMENTS THE FOLLOWING BENEFITS ARE AVAILABLE: A) A HOUSING ALLOWANCE FOR REIMBURSEMENT OF EXPENSES RELATED TO A PERSONAL RESIDENCE B) MEMBERSHIP TO SOCIAL CLUBS (PAID FOR DIRECTLY BY THE SCHOOL) C) PAYMENT OF MILLBROOK SCHOOL DAY STUDENT TUITION GROSSED UP FOR INCOME TAXES FOR CHILDREN'S USE AT COLLEGE. PART I, LINE 4B DREW CASERTANO, HEADMASTER, DEFERRED COMPENSATION $125,000 DUTCHESS COUNTY INDUSTRIAL DEVELOPMENT AGENCY 141613685 NONEAVAIL 2008-01-30 8000000 CONSTRUCTION OF MATH AND SCIENCE CENTER 0 0 0 8000000 103514 7896486 2008 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 LINDA CASERTANO SPOUSE OF THE HEADMASTER 77442 LINDA WORKS AS THE ASSOCIATE DIRECTOR OF ADMISSIONS AND IS THE DIRECTOR OF FINANCIAL AID. 0 VIRGINIA CONNOLLY SPOUSE OF THE CFO 19167 VIRGINIA WORKS AS AN ASSISTANT TO THE DIRECTOR AT FLAGLER LIBRARY AND IS AN INTERNATIONAL STUDENT ADVISOR. 0 GEORGE WHALEN BOARD MEMBER GEORGE IS DIRECTOR AT THE BANK WHERE MILLBROOK SCHOOL HOLDS IT'S OPERATING ACCOUNT, BANK OF MILLBROOK. 0 X 10 149325 FAIR MARKET VALUE X MISCELLANEOUS 1 7000 FAIR MARKET VALUE 0 1 1 THIRD PARTY USE: PART I, LINE 32B: THE SCHOOL MAINTAINS AN ACCOUNT AT A FINANCIAL INSTITUTION INTO WHICH GIFTS OF APPRECIATED SECURITIES ARE RECEIVED AND FROM WHICH THEY ARE LIQUIDATED. FORM 990, PART VI, SECTION A, LINE 2 CHRISTOPHER HOLBROOK AND SANDRA HOLBROOK JAMES ARE MEMBERS OF THE SAME FAMILY. FORM 990, PART VI, SECTION A, LINE 8B THE BOARD HAS CREATED VARIOUS COMMITTEES TO PERFORM CERTAIN FUNCTIONS ON BEHALF OF THE BOARD. HOWEVER, THE COMMITTEES' ACTIONS ARE REVIEWED AND RATIFIED BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11 MEMBERS OF THE AUDIT COMMITTEE AND THE HEADMASTER REVIEW FORM 990 AND APPROVE IT FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE SCHOOL SENDS TO EACH OFFICER, TRUSTEE, AND KEY EMPLOYEE A QUESTIONAIRE ON ANY CONFLICTS OF INTEREST. ALL OTHER EMPLOYEES ARE MADE AWARE OF THE POLICY, AND ENCOURAGED TO DISCLOSE ANY CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE HEADMASTER AND KEY EMPLOYEES IS APPROVED BY THE BOARD OF TRUSTEES. IT IS GENERALLY BASED ON A REVIEW OF COMPENSATION PACKAGES OFFERED BY SIMILAR SCHOOLS IN THE AREA. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -413,713. CHANGE IN VALUE OF CHARITABLE TRUST 5,748. TOTAL TO FORM 990, PART XI, LINE 5: -407,965. FORM 990, PART XII, LINE 2C THERE HAS BEEN NO CHANGE IN THE OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR.