2012-03-22T14:57:11-05:00 2011-06-30 MCGLADREY & PULLEN LLP 80 CITY SQUARE CHARLESTOWN MA 02129 990 2010-07-01 042104720 MEADOWBROOK SCHOOL OF WESTON INCORPORATED MEAD 7818941193 10 FARM ROAD WESTON MA 024932493 RSMI 7818941193 2012-03-22 1 LYNNE JOHNSON 6179129000 2010 2016-02-24 21:20:13Z STEPHEN HINDS 10 FARM ROAD WESTON MA 024932493 12743343 0 X WWW.MEADOWBROOK-MA.ORG X 1923 MA MEADOWBROOK IS A PRIVATE EDUCATIONAL INSTITUTION, SERVICES CHILDREN GRADES K THROUGH 8. THE SCHOOL'S MAJOR SOURCES OF REVENUE ARE TUITION, GRANTS, AND CONTRIBUTIONS. 33 33 219 150 0 0 3285494 2416247 8910641 9814257 1150479 -1639485 216479 256811 13563093 10847830 724815 778983 0 0 5998079 6294661 0 0 596922 4268340 4968423 10991234 12042067 2571859 -1194237 52311713 51428675 12115477 11619178 40196236 39809497 X MEADOWBROOK IS A SCHOOL WITH HIGH ACADEMIC, ETHICAL, AND SOCIAL STANDARDS, WHOSE MISSION IS TO PROVIDE A NURTURING EXPERIENCE FOR EACH STUDENT IN AN INTENTIONALLY SMALL LEARNING ENVIRONMENT. 0 0 6105491 688572 7833695 TUITION - PROVIDE A HIGH QUALITY EDUCATION FOR STUDENTS IN GRADES KINDERGARTEN THROUGH EIGHT. 965831 1567715 DAY CAMP - ACADEMIC AND RECREATIONAL SUMMER PROGRAMS FOR CHILDREN ENTERING KINDERGARTEN THROUGH EIGHTH GRADE. 393512 72294 361126 SPECIAL ACTIVITY PROGRAMS SUCH AS FIELD TRIPS, AFTER SCHOOL ACTIVITIES, LAPTOP PROGRAM. 127341 5598 36704 LEARNING LAB 1498 1148 4176 TESTING REVENUE 10140 APPLICATION FEES 700 TUITION INSTALLMENT FEES 11371 11371 33563 MISCELLANEOUS OTHER PROGRAMS 140210 18117 85283 7605044 1 1 0 1 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 38 0 1 219 1 0 0 0 0 0 0 0 0 0 0 X 33 33 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X JOHN AUSTIN 7818932536 10 FARM ROAD WESTON MA 02493 BENJAMIN ARMOUR 2.00 X 0 0 0 DEWEY J AWAD 5.00 X X 0 0 0 ANGELA M BRAMAN 5.00 X X 0 0 0 MICHAEL BROWN 2.00 X 0 0 0 KEVIN T CALLAGHAN 2.00 X 0 0 0 BALA CUMARESAN 2.00 X 0 0 0 WILLIAM A DANOFF 2.00 X 0 0 0 MICHAEL DENNING 2.00 X 0 0 0 HAROLD DIXON 2.00 X 0 0 0 SANDRA M EDGERLEY 5.00 X 0 0 0 DAVID E GOEL 2.00 X 0 0 0 THOMAS H GRAPE 5.00 X 0 0 0 JEFFREY C HADDEN 5.00 X X 0 0 0 MARTIN D HALE JR 5.00 X 0 0 0 BONITA IRVING 2.00 X 0 0 0 ANDREW E JANFAZA 2.00 X 0 0 0 JANICE JESTER 2.00 X 0 0 0 MICHAEL W KERWIN 2.00 X 0 0 0 LISA LEBOVITZ 2.00 X 0 0 0 AI-LI LIM 2.00 X 0 0 0 SEAN MCGRATH 2.00 X 0 0 0 MEREDITH MCPHERRON 2.00 X 0 0 0 MARION MUSSAFER 2.00 X 0 0 0 JOHN R PORTER III 2.00 X 0 0 0 DOUGLAS ROHALL 5.00 X 0 0 0 ROBERT SCHLAGER 2.00 X 0 0 0 JENNIFER A SEEMAN 2.00 X 0 0 0 SANGITA THAKORE 2.00 X 0 0 0 PENNY VINIK 20.00 X X 0 0 0 KENT R WELDON 2.00 X 0 0 0 CAROLYN M WOOD 2.00 X 0 0 0 ELIZABETH WHITE 2.00 X 0 0 0 AMANDA BLAKELEY 2.00 X 0 0 0 JOHN AUSTIN 40.00 X 100506 0 16554 STEPHEN T HINDS 40.00 X 246193 0 110689 JANE SIEWERS 40.00 X 0 0 0 BARBARA VINCENT 40.00 X 119968 0 16533 466667 0 143776 3 0 1 0 CHARTWELL'S (COMPASS GROUP USA) PO BOX 91337 CHICAGO IL 60693 KITCHEN SERVICES 294853 TRIAD ASSOCIATES INC 100 DOWNING AVENUE HAVERHILL MA 01830 POOL/CONSTRUCTION SERVICES 145331 LOCAL MOTION INC 66B ROCSAM PARK ROAD BRAINTREE MA 02184 TRANSPORTATION SERVICES 127834 3 8425 2407822 91247 2416247 TUITION 611600 7833695 7833695 DAY CAMP 611710 1567715 1567715 OTHER PROGRAMS 611600 412847 412847 9814257 207140 207140 153425 153425 153425 153425 19800 1866425 -1846625 -1846625 -1846625 98912 8425 29088 69824 69824 OTHER REVENUE 900099 33562 33562 33562 10847830 9847819 0 -1416236 778983 778983 466667 60667 382667 23333 4187982 3015347 879476 293159 265873 191429 55833 18611 1036606 746357 217687 72562 337533 243024 70882 23627 11307 11307 51460 51460 527844 139233 334159 54452 105076 63046 21015 21015 935645 374258 495892 65495 74996 52497 18749 3750 632330 632330 7898 7898 302781 302781 1008166 856942 131061 20163 61195 61195 DAY CAMP 969832 969832 CONTINGENCY EARN OUT PA 160804 160804 TRANSPORTATION 81364 81364 AMORTIZATION EXPENSE 37725 32065 4905 755 12042067 7605044 3840101 596922 5167654 5461383 2546889 1071416 2794304 648843 33798 64961 2600 200 14481 19214 13884 25941 352130 417805 35037309 7960670 24870321 27076639 16294092 13063669 3394770 221560 183834 52311713 51428675 961098 1437065 4754569 4927113 3920000 3650000 800000 179810 105000 1500000 1500000 12115477 11619178 X 33588260 32309814 1310655 2152012 5297321 5347671 40196236 39809497 52311713 51428675 X -1194237 807498 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 0 EXPLANATION OF OTHER LOBBYING ACTIVITIES: PART II-B, LINE 1I: THE ORGANIZATION PAYS MEMBERSHIP DUES TO THE MASSACHUSETTS ASSOCIATION OF NON-PROFIT SCHOOLS AND COLLEGES WHICH MAY ENGAGE IN LOBBYING ACTIVITIES. AS SUCH, NO DETERMINATIVE AMOUNT IS LISTED IN THIS SCHEDULE. 15308262 50350 2164349 2550001 14972960 11542884 2699464 1616151 550237 15308262 14686501 28596 -2652946 519267 11542884 0.52220 0.35720 0.12060 0 0 4706480 4706480 25407510 6151423 19256087 2193561 1617540 576021 2729758 191707 2538051 27076639 PRIVATE EQUITY 3394770 F 3394770 10847830 12042067 -1194237 2050469 -1242971 807498 -386739 10824069 2050469 -2103318 -52849 10876918 -29088 -29088 10847830 11210808 29088 29088 11181720 860347 860347 12042067 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE PRIMARY OBJECTIVE OF THE ENDOWMENT IS TO PROVIDE A REASONABLE STABLE AND PREDICTABLE STREAM OF EARNINGS TO SUPPORT THE OPERATIONS OF THE SCHOOL, AND TO PRESERVE AND ENHANCE OVER TIME THE REAL (INFLATION ADJUSTED) VALUE OF THE ENDOWMENT ASSETS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SCHOOL IS QUALIFIED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOMES TAXES. THE SCHOOL ADOPTED THE PROVISIONS OF THE ACCOUNTING STANDARD FOR UNCERTAINTY IN INCOME TAXES DURING THE FISCAL YEAR ENDED JUNE 30, 2008. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES BY PRESCRIBING THE RECOGNITION THRESHOLD A TAX POSITION MUST MEET IN CONNECTION WITH ACCOUNTING FOR UNCERTAINTIES IN INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN BY AN ENTITY BEFORE BEING MEASURED AND RECOGNIZED IN THE FINANCIAL STATEMENTS. THE SCHOOL HAS EVALUATED THE APPLICATION OF THE STANDARD AND HAS DETERMINED THAT THE ADOPTION OF THE STANDARD DOES NOT HAVE A MATERIAL IMPACT ON THE SCHOOL'S FINANCIAL STATEMENTS. WITH FEW EXCEPTIONS, THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR FISCAL YEARS BEFORE 2008. PART XI, LINE 8 - OTHER ADJUSTMENTS: LOSS FROM CONTRIBUTION RECEIVABLE ACTIVITY REPORTED ON FINANCIAL STATEMENTS -1,242,971. PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSE NETTED WITH REVENUE ON FINANCIAL STATEMENTS -778,983. STUDENT TRANSPORTATION EXPENSE NETTED WITH REVENUE ON FINANCIAL STATEMENTS -81,364. LOSS FROM CONTRIBUTION RECEIVABLE ACTIVITY REPORTED ON FINANCIAL STATEMENTS -1,242,971. PART XII, LINE 4B - OTHER ADJUSTMENTS: DIRECT SPECIAL FUNDRAISING EVENTS EXPENSES, REPORTED ON LINE 8B -29,088. PART XIII, LINE 2D - OTHER ADJUSTMENTS: DIRECT SPECIAL FUNDRAISING EVENTS EXPENSES, REPORTED ON LINE 8B 29,088. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSE NETTED WITH REVENUE ON FINANCIAL STATEMENTS 778,983. STUDENT TRANSPORTATION EXPENSE NETTED WITH REVENUE ON FINANCIAL STATEMENTS 81,364. 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 HAS A LONG STANDING POLICY OF NON-DISCRIMINATORY ADMISSION OF STUDENTS. THEY PARTICIPATE WITH THE ASSOCIATION OF INDEPENDENT SCHOOLS IN NEW ENGLAND IN PUBLISHING THIS POLICY IN THE BOSTON GLOBE ON DECEMBER 4, 2011. THE SCHOOL ADMITS STUDENTS OF ANY RACE, COLOR, RELIGIOUS AFFILIATION, NATIONAL AND ETHNIC ORIGIN AND QUALIFIED HANDICAPPED STUDENTS. GALA 103975 8425 95550 24190 103975 8425 95550 24190 24190 71360 1 TUITION 37 688572 FAIR MARKET VALUE CREDITS APPLIED TO INDIVIDAUL'S ACCOUNT AFTER SCHOOL 25 52752 FAIR MARKET VALUE CREDITS APPLIED TO INDIVIDAUL'S ACCOUNT FIELD TRIPS 19 14980 FAIR MARKET VALUE CREDITS APPLIED TO INDIVIDUAL'S ACCOUNT LEARNING LAB 7 5598 FAIR MARKET VALUE CREDITS APPLIED TO INDIVIDUAL'S ACCOUNT TESTING 7 1148 FAIR MARKET VALUE CREDITS APPLIED TO INDIVIDUAL'S ACCOUNT LAPTOP PROGRAM 11 4562 FAIR MARKET VALUE CREDITS APPLIED TO INDIVIDUAL'S ACCOUNT OTHER 10 11371 FAIR MARKET VALUE CREDITS APPLIED TO INDIVIDUAL'S ACCOUNT PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: FINANCIAL ASSISTANCE IS ISSUED IN THE FORM OF CREDITS APPLIED TO THE INDIVIDUAL'S ACCOUNT TO OFFSET CHARGES INCURRED FOR TUITION FEES, AFTER SCHOOL, LEARNING LAB AND TESTING FEES, FIELD TRIP FEES, FEES RELATED TO OUR LAPTOP PROGRAM, AND OTHER MISCELLANEOUS CHARGES THAT MAY BE INCURRED IN THE COURSE OF BEING A STUDENT AT THE SCHOOL. X 1 1 X X 0 1 0 0 0 0 0 0 0 STEPHEN T HINDS 223252 0 21500 0 1441 0 96631 0 14058 0 356882 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANION IS DUE TO THE COMPANION'S POSITION AT THE SCHOOL AND NOT FOR TRAVEL WITH HEADMASTER. PART I, LINE 4B THE ORGANIZATION HAS ENTERED INTO A DEFERRED COMPENSATION ARRANGEMENT WITH ITS HEADMASTER. THE PLAN HAS VESTING AND TERMINATION PROVISIONS. THE PLAN BECAME EFFECTIVE DURING THE YEAR ENDED 6/30/06. THE PLAN REQUIRES FOR THE INDIVIDUAL TO BE PAID A CERTAIN AMOUNT IF THE EMPLOYEE LEAVES ON OR AFTER 1/1/08 AND ON OR AFTER 6/30/10. THE SCHOOL RECORDS THE EXPENSE IN THE YEAR IN WHICH IT IS EARNED. THE HEADMASTER HAS EARNED $222,000 BY BEING EMPLOYED THROUGH JUNE 30, 2010. IN THE YEAR ENDING 6/30/11, A NEW PLAN AGREEMENT BECAME EFFECTIVE WHICH EXTENDS THROUGH 6/30/15. THE PLAN REQUIRES FOR THE INDIVIDUAL TO BE PAID A CERTAIN AMOUNT IF THE EMPLOYEE LEAVES ON OR AFTER 1/1/13 AND ON OR AFTER 6/30/15. THE SCHOOL RECORDS THE EXPENSE IN THE YEAR IN WHICH IT IS EARNED. AS OF 6/30/11, THE PLAN IS FUNDED, AND DEFERRED COMPENSATION IS INCLUDED IN ACCOUNTS PAYABLE AND ACCRUED EXPENSES. JOHN F AUSTIN CAR LOAN X 4400 200 0 1 1 200 JERE HINDS FAMILY MEMBER OF AN OFFICER 71154 JERE HINDS IS EMPLOYED BY THE ORGANIZATION. 0 X 10 91247 FAIR MARKET VALUE 0 0 1 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. THIRD PARTY USE: PART I, LINE 32B: STOCK DONATIONS ARE RECEIVED THROUGH AN ACCOUNT AT UBS. THE STOCK IS CASHED BY UBS UPON DIRECTION OF THE BUSINESS MANAGER, JOHN AUSTIN. FORM 990, PART VI, SECTION B, LINE 11 THE BUSINESS OFFICE RECEIVES FROM ITS ACCOUNTING FIRM AN ANNUAL QUESTIONNAIRE TO ENABLE THE COMPLETION OF THE FORM 990. THE QUESTIONS ARE RESEARCHED AND SENT BACK TO THE ACCOUNTING FIRM FOR INCLUSION IN THE FORM 990 PREPARATION. THE SCHOOL'S BUSINESS OFFICE RECEIVES THE COMPLETED DRAFT FORM 990 WHICH IS REVIEWED BY THE BUSINESS MANAGER, WHO MAKES ANY NECESSARY ADJUSTMENTS. ONCE ALL COMMENTS ARE ADDRESSED AND ANY NECESSARY CHANGES ARE MADE TO THE FORM 990, A PUBLIC DISCLOSURE COPY OF THE FORM 990 IS DISTRIBUTED TO THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: A) HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, B) HAS READ AND UNDERSTANDS THE POLICY, C) HAS AGREED TO COMPLY WITH THE POLICY, AND D) UNDERSTANDS THE SCHOOL IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. FORM 990, PART VI, SECTION B, LINE 15 ON AN ANNUAL BASIS, EVERY EMPLOYEE PREPARES GOALS WHICH ARE USED TO EVALUATE INDIVIDUAL PERFORMANCE. TEACHING FACULTY ARE SUBJECT TO SALARIED COMPENSATION BASED ON AN OBJECTIVE "STEP" SCALE (I.E. SALARY IS DETERMINED BY YEARS OF SERVICE). STAFF ARE ALSO SALARIED AND RECEIVE A STANDARD ANNUAL INCREASE TO ADJUST FOR INFLATION. THE HEADMASTER'S PERFORMANCE AND COMPENSATION IS REVIEWED AND DETERMINED BY A SUB-COMMITTEE OF THE BOARD AND SUBJECT TO APPROVAL BY THE EXECUTIVE COMMITTEE AND THE BOARD OF TRUSTEES. THERE IS NO FORMAL INCENTIVE-BASED COMPENSATION POLICY THROUGHOUT THE ENTITY. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS ANNUAL, REPORT, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990 AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. IN ADDITION, THE FORM 990 IS AVAILABLE VIA GUIDESTAR AND THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 2,050,469. LOSS FROM CONTRIBUTION RECEIVABLE ACTIVITY REPORTED ON FINANCIAL STATEMENTS -1,242,971. TOTAL TO FORM 990, PART XI, LINE 5: 807,498.