2012-05-15T08:08:34-05:00 2011-06-30 MCGLADREY LLP 80 CITY SQUARE BOSTON MA 02129 990 2010-07-01 042103821 MIDDLESEX SCHOOL MIDD 9783692550 1400 LOWELL ROAD CONCORD MA 01742 RSMI 9783716585 2012-05-15 1 LYNNE JOHNSON 6179129000 2010 2016-02-24 21:20:13Z AUSTIN P OLNEY 1400 LOWELL ROAD CONCORD MA 01742 39574024 0 X WWW.MXSCHOOL.EDU X 1901 MA MIDDLESEX SCHOOL IS A COLLEGE-PREPARATORY SCHOOL FOR GRADES 9 THROUGH 12. 34 31 272 85 351081 0 5106514 10146938 16018173 16842844 2441302 2678406 1021425 1109127 24587414 30777315 3685291 4504100 0 0 11853142 13503317 6901 2734 2258397 11196738 11894902 26742072 29905053 -2154658 872262 183677687 214420576 27638579 34423338 156039108 179997238 MIDDLESEX SCHOOL IS AN INDEPENDENT, NON-DENOMINATIONAL, RESIDENTIAL, COLLEGE-PREPARATORY SCHOOL THAT, FOR OVER ONE HUNDRED YEARS, HAS BEEN COMMITTED TO EXCELLENCE IN THE INTELLECTUAL, ETHICAL, CREATIVE, AND PHYSICAL DEVELOPMENT OF YOUNG PEOPLE. (SEE SCHEDULE O) 0 0 21363790 4504100 17782530 MIDDLESEX SCHOOL IS A NON-SECTARIAN COLLEGE PREPARATORY BOARDING AND DAY SCHOOL FOR BOYS AND GIRLS IN GRADES 9-12. MIDDLESEX HAS ALWAYS PRIDED ITSELF IN ATTRACTING A DIVERSE, HIGHLY MOTIVATED GROUP OF STUDENTS FROM ACROSS THE COUNTRY AND MORE RECENTLY THE WORLD. CURRENT ENROLLMENT IS ABOUT 375 STUDENTS FROM MANY STATES AND COUNTRIES. FOUNDED IN 1901, THE SCHOOL HAS A LONG TRADITION OF PLACING STUDENTS IN THE MOST SELECTIVE COLLEGES. MIDDLESEX OFFERS A CHALLENGING ACADEMIC PROGRAM. IN ADDITION TO ITS SCHOOL YEAR PROGRAM, MIDDLESEX MAKES USE OF ITS CAMPUS FACILITIES FOR SUMMER AUXILIARY PROGRAMS CONSISTENT WITH ITS PRIMARY MISSION. 21363790 1 1 0 1 0 1 0 0 1 1 1 0 1 1 1 1 0 1 0 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 148 0 1 272 1 1 1 0 0 0 0 1 1 0 0 0 0 X 34 31 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MA X THERESE A CUNNINGHAM CFO 9783716589 1400 LOWELL ROAD CONCORD MA 01742 ALEXANDER C BANKER 5.00 X 0 0 0 HUGH BARIT 5.00 X 0 0 0 ANNE T BASS 5.00 X X 0 0 0 ROBERT M BASS 5.00 X X 0 0 0 ANSON H BEARD 5.00 X 0 0 0 MARY LOU BOUTWELL 5.00 X 0 0 0 JOHN BROOKE 5.00 X 0 0 0 JOY CONNOLLY 5.00 X 0 0 0 ABIGAIL MARR DOFT 5.00 X 0 0 0 JOHN H DYETT 5.00 X 0 0 0 ALBERT H ELFNER III 5.00 X X 0 0 0 KATHLEEN C GILES 70.00 X X 272165 0 134266 ARCHIBALD L GWATHMEY 5.00 X 0 0 0 COREY HAJIM 5.00 X 0 0 0 KATHLEEN HALEY 5.00 X 0 0 0 EDWIN D HETZ 5.00 X 0 0 0 CHARLES C ALEXANDER 5.00 X 0 0 0 JAMES F CURTIS III 5.00 X 0 0 0 THE HONORABLE JEFFREY P HOPKINS 5.00 X 0 0 0 COLEMAN HOYT 5.00 X 0 0 0 JOSEPH F KAHN 5.00 X 0 0 0 LISA MOLVAR 5.00 X 0 0 0 STEPHEN D LARI 5.00 X 0 0 0 SARAH C LEARY 5.00 X X 0 0 0 MARK J MASIELLO 5.00 X 0 0 0 ALLEN J MODEL 5.00 X X 0 0 0 JOHN E NEWMAN 5.00 X 0 0 0 AUSTIN P OLNEY 5.00 X X 0 0 0 THOMAS S KREITLER 5.00 X 0 0 0 MARGARET H PIERCE 5.00 X 0 0 0 WANJI BARRINGTON WALCOTT 5.00 X 0 0 0 DAVID S WEIL JR 5.00 X X 0 0 0 JONATHAN B TREAT II 5.00 X X 0 0 0 MARY ANN TYNAN 5.00 X X 0 0 0 THERESE A CUNNINGHAM 70.00 X 101836 0 58597 MATTHEW E CROZIER 70.00 X 128323 0 32134 JAMES J ZIMMERMAN 60.00 X 188053 0 41276 HEATHER J PARKER 60.00 X 115562 0 11024 DOUGLAS C PRICE 60.00 X 100434 0 57523 906373 0 334820 6 0 1 0 CHARTWELLS 106 SAINT STEPH STREET BOSTON MA 02115 DINING SERVICES 1240605 INFRANET SOLUTIONS INC 105 ROC SAM PARK ROAD BRAINTREE MA 02184 IT SERVICES 493918 GLOBAL MONTELLO GROUP 800 SOUTH STREET 200 WALTHAM MA 02453 OIL COMPANY 424291 CBTCHILDS BERTMAN TSECKARES 110 CANAL STREET BOSTON MA 02114 ARCHITECT 330548 COMMODORE BUILDERS 80 BRIDGE STREET NEWTON MA 02458 CONSTRUCTION 307047 17 31202 10115736 8496420 10146938 TUITION REVENUE 611600 16430052 16430052 INSTRUCTIONAL 611710 412792 412792 16842844 147941 147941 219136 174661 44475 44475 44475 10707879 8177414 2530465 2530465 351081 2179384 243005 31202 108060 134945 134945 326595 336574 -9979 -9979 OUTSIDE MUSIC LESSONS 611600 138845 138845 COMMUNICATION FEES 900099 112200 112200 PROGRAM TRIP INCOME 611710 108496 108496 580145 580145 939686 30777315 17782530 351081 2496766 162666 162666 4341434 4341434 524186 162576 324891 36719 7891173 5426205 1737425 727543 2883981 1983111 634975 265895 1601990 1101576 352715 147699 601987 416898 130459 54630 113321 113321 96488 96488 450 450 2734 2734 865312 865312 757302 543108 150976 63218 105023 44539 5 60479 556737 323761 131744 101232 571200 261194 308676 1330 2972 2972 1890857 1415878 386132 88847 758798 478088 98766 181944 56267 41796 11694 2777 467962 446532 17820 3610 3080702 2310527 616140 154035 197026 97702 99324 FOOD 1563890 1343994 61823 158073 EQUIPMENT 145683 125500 17320 2863 FACILITY RENTAL 93182 11872 0 81310 BOOKS 44284 42888 1396 0 MEMBERSHIP FEES 40208 9182 29652 1374 487238 269791 95362 122085 29905053 21363790 6282866 2258397 1978813 3186968 7357151 6047427 17141862 22081346 205391 153548 125000 68367 61558 43859 59827 758732 719054 104756024 42063725 63154969 62692299 14025064 12729121 74714377 94219280 4104102 12470148 183677687 214420576 8960179 9987316 5972379 5886766 9416188 9206353 3289833 9342903 27638579 34423338 X 52451032 55769899 39359383 51402383 64228693 72824956 156039108 179997238 183677687 214420576 X 872262 23085868 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 0 EXPLANATION OF OTHER LOBBYING ACTIVITIES: PART II-B, LINE 1I: MIDDLESEX SCHOOL IS A MEMBER OF MASSACHUSETTS ASSOCIATION OF NONPROFIT SCHOOLS & COLLEGES, A GROUP WHICH MAY ENGAGE IN LOBBYING ACTIVITIES. THEREFORE, A PORTION OF THE DUES MAY BE ATTRIBUTABLE TO LOBBYING ACTIVITES AND AS SUCH NO DETERMINATIVE AMOUNT IS LISTED IN THE SCHEDULE. X 1 160.00 0 0 1 0 3.00 40000 78448358 1841144 17451654 3272717 94468439 73301746 937038 7574532 3364958 78448358 97381480 2522431 -21796722 4805443 73301746 0.11700 0.50700 0.37600 1 0 563898 563898 97364182 37124716 60239466 6240968 4939009 1301959 586976 586976 62692299 DOMESTIC EQUITY 24597059 F INTERNATIONAL EQUITY 15728845 F PRIVATE EQUITY 20880438 F ABSOLUTE RETURN 6788079 F DIRECTIONAL HEDGE 361351 F REAL ASSETS 6239441 F OTHER 19624067 F 94219280 BENEFICIAL INTEREST IN CHARITABLE REMAINDER TRUSTS 12470148 12470148 CHARITABLE REMAINDER TRUSTS LIABILITY 8395591 TAX-EXEMPT COMMERCIAL PAPER REVENUE NOTES 947312 9342903 30777315 29905053 872262 19116772 3969096 23085868 23958130 49468343 19116772 -1045039 18071733 31396610 -619295 -619295 30777315 25510213 619295 619295 24890918 5014135 5014135 29905053 EXPLANATION OF EASEMENTS ENFORCEMENT POLICIES: PART II, LINE 5: THE SCHOOL MEETS ANNUALLY WITH THE TRUSTEES OF RESERVATIONS WHO ADMINISTER THE EASEMENTS AND TOUR THE SITE. DESCRIPTION OF HOW ORGANIZATION REPORTS CONSERVATION EASEMENTS: PART II, LINE 9: CONSERVATION EASEMENTS ON THE MIDDLESEX CAMPUS ARE RELATED TO THE PROTECTION/PRESERVATION OF WETLANDS AND THE PROTECTION OF RESIDENT WILDLIFE ON A PORTION OF THE MIDDLESEX PROPERTY. MIDDLESEX USES AN ENVIRONMENTAL CONSULTING FIRM ANNUALLY TO TEST THE WATER QUALITY OF THE WETLANDS ON THE MIDDLESEX CAMPUS WHERE AMPHIPODS (SALAMANDERS) RESIDE. THE LAND IS RECORDED AS AN ASSET ON THE BALANCE SHEET AND THE EXPENSES RELATED TO THE ENVIRONMENTAL CONSULTING SERVICES ARE CHARGED TO FACILITIES AND OPERATIONS. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE SCHOOL HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE SCHOOL MUST HOLD IN PERPETUITY OR FOR DONOR-SPECIFIED PURPOSES AS WELL AS BOARD DESIGNATED FUNDS. THE SCHOOL EXPECTS ITS ENDOWMENT FUNDS, OVER TIME, TO PROVIDE AN AVERAGE RATE OF RETURN OF APPROXIMATELY 8% ANNUALLY. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE SCHOOL RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST AND DIVIDENDS). THE SCHOOL TARGETS A DIVERSIFIED ASSET ALLOCATION THAT PLACES A GREATER EMPHASIS ON EQUITY-BASED INVESTMENTS TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF TRUSTEES, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRODUCE RESULTS THAT EXCEED A POLICY INDEX. 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 EXEMPT FROM FEDERAL AND STATE INCOME TAXES EXCEPT FOR NET REVENUE FROM UNRELATED BUSINESS ACTIVITIES. THE SCHOOL FOLLOWS THE FASB GUIDANCE FOR UNCERTAINTY IN INCOME TAXES. THE STANDARD 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 THE SCHOOL HAD NO MATERIAL UNCERTAINTIES IN INCOMES TAXES. THE SCHOOL WILL ACCOUNT FOR INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, AS PART OF TAX EXPENSE. 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: CHANGE IN VALUE OF CHARITABLE REMAINDER TRUSTS: 3,969,096. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF CHARITABLE REMAINDER TRUSTS 3,969,096. FINANCIAL AID NETTED WITH TUITION REVENUE PER AUDITED FS -4,248,250. INVESTMENT MGMT FEES NETTED WITH GAIN/LOSSES ON INVESTMENTS ON AUDITED FS -765,885. PART XII, LINE 4B - OTHER ADJUSTMENTS: COSTS OF GOODS SOLD REPORTED ON FORM 990, PART VIII, LINE 10B -336,574. RENTAL EXPENSES REPORTED ON FORM 990, PART VIII, LINE 6B -174,661. DIRECT EXP. FROM FUNDRAISING EVENTS REPORTED ON FORM 990, PART VIII, LINE 8B -108,060. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COSTS OF GOODS SOLD REPORTED ON FORM 990, PART VIII, LINE 10B 336,574. DIRECT EXP. FROM FUNDRAISING EVENTS REPORTED ON FORM 990, PART VIII, LINE 8B 108,060. RENTAL EXPENSES REPORTED ON FORM 990, PART VIII, LINE 6B 174,661. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH TUITION REVENUE PER AUDITED FS 4,248,250. INVESTMENT MGMT FEES NETTED WITH GAIN/LOSSES ON INVESTMENTS ON AUDITED FS 765,885. 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 NOTICE OF NONDISCRIMINATION POLICY IS IN THE NEWSPAPER AS A LISTED MEMBER OF THE ASSOCIATION OF INDEPENDENT SCHOOLS OF NEW ENGLAND (AISNE). EUROPE (INCLUDING ICELAND & GREENLAND) PARTNERSHIP INVESTMENTS 9845000 CENTRAL AMERICA AND THE CARIBBEAN PARTNERSHIP INVESTMENTS 723000 0 0 0 0 0 0 10568000 0 10568000 1 0 0 0 1 0 GOLF OUTING 33435 5900 27535 21060 9837 GALA AUCTION 240772 25302 215470 49252 27911 274207 31202 243005 70312 37748 108060 134945 1 CROSSROADS COMMUNITY FOUNDATION 21 ELIOT STREET NATICK MA 01760 043266789 501(C)(3) 12400 DONATION OF FUNDS FROM A STUDENT GROUP TO THE ORGANIZATION TOWN OF CONCORD 133 KEYES ROAD CONCORD MA 01742 046001121 145000 TOWN SIDEWALK UPGRADES 2 FINANCIAL AID 125 4341434 FAIR MARKET VALUE FINANCIAL ASSISTANCE OFFSETS AGAINST THE STUDENTS' ACCOUNTS PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: FINANCIAL AID WAS PROVIDED FOR TUITION AND FEES TO STUDENTS EXHIBITING FINANCIAL NEED, NO OUTSIDE GRANTS WERE PROVIDED. OTHER INFORMATION: PART IV: THE SCHOOL SCHOLARSHIP SERVICE, AN INDEPENDENT ORGANIZATION, PROCESSES THE APPLICATIONS FOR FINANCIAL AID. MIDDLESEX SCHOOL DISTRIBUTES THE FUNDS TO THOSE CANDIDATES WHO DISPLAY NEED BASED ON THESE APPLICATIONS, SUPPORTING TAX DOCUMENTS AND AVAILABLE GRANT FUNDS. MIDDLESEX SCHOOL'S TWO MEDIUMS FOR THE SOLICITATION OF APPLICANTS FOR ENROLLMENT TO THE SCHOOL ARE ITS ADMISSIONS BROCHURES AND ITS WEB SITE. THE STATEMENT THAT FINANCIAL AID IS AWARDED TO STUDENTS ON THE BASIS OF FINANCIAL NEED, WITHOUT REGARD TO RACE, CREED, SEX OR NATIONAL ORIGIN IS CONTAINED IN ALL SUCH LITERATURE. THE SCHOOL ALSO GIVES TUITION REMISSION TO FACULTY CHILDREN WHO ATTEND MIDDLESEX SCHOOL. THE AMOUNT OF ANY QUALIFIED TUITION REDUCTION FOR AN EMPLOYEE OF AN EDUCATIONAL INSTITUTION IS EXCLUDABLE FROM GROSS INCOME UNDER CODE SECTION 117. IN ORDER TO QUALIFY FOR THE EXCLUSION, THE TUITION REDUCTION MUST BE PROVIDED TO AN EMPLOYEE OF A QUALIFIED EDUCATIONAL ORGANIZATION. ALSO, THE TUITION REDUCTION MUST BE FOR EDUCATION AT THE ELEMENTARY, SECONDARY, OR UNDERGRADUATE LEVELS, EITHER AT THE EMPLOYER EDUCATIONAL INSTITUTION OR AT ANOTHER EDUCATIONAL INSTITUTION. X X 0 1 X X X X X 0 1 0 0 0 0 0 0 0 KATHLEEN C GILES 269369 0 0 0 2796 0 50561 0 83705 0 406431 0 0 0 THERESE A CUNNINGHAM 101806 0 0 0 30 0 11110 0 47487 0 160433 0 0 0 MATTHEW E CROZIER 108293 0 0 0 20030 0 11110 0 21024 0 160457 0 0 0 JAMES J ZIMMERMAN 163184 0 0 0 24869 0 17292 0 23984 0 229329 0 0 0 DOUGLAS C PRICE 98544 0 0 0 1890 0 11029 0 46494 0 157957 0 0 0 PART I, LINE 1A SINCE THE SCHOOL IS A BOARDING SCHOOL, THE MAJORITY OF THE FACULTY ARE REQUIRED TO LIVE ON CAMPUS FOR THE PURPOSE OF SUPERVISING THE STUDENTS. THE ESTIMATED VALUE OF THIS BENEFIT WAS $20,000 DURING THE YEAR WHICH IS INCLUDED IN THE ESTIMATE OF OTHER COMPENSATION REPORTED IN THE FORM 990, PART VII, COLUMN F AND NONTAXABLE BENEFITS REPORTED IN PART II, COLUMN D OF SCHEDULE J. THE SCHOOL PROVIDES AND PAYS DIRECTLY AN OUTSIDE CLEANING SERVICE TO CLEAN THE HEAD OF SCHOOL'S ON-CAMPUS RESIDENCE PURSUANT TO HER CONTRACT. THE VALUE OF THIS NONTAXABLE BENEFIT IS INCLUDED IN HER OTHER COMPENSATION REPORTED IN THE FORM 990, PART VII, COLUMN F AND NONTAXABLE BENEFITS REPORTED IN PART II, COLUMN D OF SCHEDULE J. PART I, LINE 1B THE SCHOOL DOES NOT HAVE A WRITTEN POLICY IN REGARDS TO THE ALLOCATION OF FACULTY MEMBERS TO AVAILABLE ON CAMPUS HOUSING. WHILE THE SCHOOL WOULD LIKE TO HOUSE ALL MEMBERS OF THE FACULTY ON CAMPUS, THE NUMBER OF FACULTY MEMBERS EXCEED THE NUMBER OF AVAILABLE HOUSING UNITS. UNITS ARE ALLOCATED BASED ON AVAILABILITY AND FIT (FEMALE FACULTY IN FEMALE DORMS, DORM RESPONSIBILITIES COMPARED WITH FACULTY RESPONSIBILITIES). THE ESTIMATED NON TAXABLE VALUE FOR THIS ON-CAMPUS HOUSING IS INCLUDED IN PART VII FOR THE HEAD OF SCHOOL, CFO, AND DIRECTOR OF ADMISSIONS. IN SOME INSTANCES WHERE ON-CAMPUS HOUSING IN NOT AVAILABLE, TAXABLE STIPENDS ARE ADDED TO FACULTY MEMBER CONTRACTS AND ARE REPORTED IN PART VII, COLUMN (F) UNDER OTHER COMPENSATION AND IN SCHEDULE J, COLUMN (B)(III). THE ONLY INDIVIDUAL PROVIDED WITH PERSONAL SERVICES IS THE HEAD OF SCHOOL AND THAT IS PART OF HER CONTRACT. THE SCHOOL PROVIDES AND PAYS DIRECTLY AN OUTSIDE CLEANING SERVICE TO CLEAN BOTH THE PUBLIC AND PRIVATE PORTION OF HER ON-CAMPUS RESIDENCE. PART I, LINE 4B KATHY GILES - THE ORGANIZATION HAS ENTERED INTO A DEFERRED COMPENSATION ARRANGEMENT WITH ITS HEAD OF SCHOOL. UNDER THE TERMS OF THE AGREEMENT, AN AMOUNT DETERMINED BY THE COMPENSATION COMMITTEE WILL BE CREDITED TO THE INDIVIDUAL'S ACCOUNT ON A YEARLY BASIS. PURSUANT TO THE AGREEMENT, THE INDIVIDUAL BECOMES VESTED IN THE ACCOUNT UPON THE EARLIER OF THE FOLLOWING: (A) THE FIFTH JULY 1ST FOLLOWING THE CREDITING OF THE AMOUNT (B) THE ATTAINMENT OF THE AGE OF 62 PROVIDED THE INDIVIDUAL REMAINS EMPLOYED WITH THE ORGANIZATION; (C) TERMINATION WITHOUT CAUSE; (D) LONG-TERM DISABILITY; OR (E) DEATH. PART II: KATHLEEN C. GILES: FOR THE CALENDAR YEAR 2010, KATHLEEN C. GILES, HEAD OF SCHOOL, RECEIVED NON-TAXABLE ON-CAMPUS HOUSING, VALUED AT $20,000. SHE ALSO RECEIVED NON-TAXABLE TUITION REMISSION OF $36,870. IN ADDITION, SHE RECEIVED EMPLOYER PROVIDED HEALTH INSURANCE OF $14,196 AND NON-TAXABLE EMPLOYER PROVIDED LIFE AND LONG TERM CARE INSURANCE TOTALING $244. IN ADDITION, SHE MADE NON-TAXABLE CONTRIBUTIONS TO AN FSA ACCOUNT AS WELL AS PAID NON-TAXABLE HEALTH INSURANCE PREMIUM PAYMENTS UNDER A SECTION 125 PLAN, BOTH OF WHICH TOTALED $9,093. ALL OF THESE AFOREMENTIONED NON-TAXABLE BENEFITS ARE OFFERED TO FACULTY MEMBERS AND ARE NOT EXCLUSIVE TO KATHLEEN C. GILES' CONTRACT. PER KATHLEEN C. GILES' CONTRACT, THE SCHOOL PROVIDES AND PAYS DIRECTLY AN OUTSIDE CLEANING SERVICE TO CLEAN THE HEAD OF SCHOOL'S ON-CAMPUS RESIDENCE. THE NON-TAXABLE VALUE OF THIS BENEFIT IS $3,302. MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 042608195 57583FV65 2003-10-01 10570000 CONSTRUCTION AND REDEMPTION OF TAX-EXEMPT COMMERCIAL PAPER 0 0 0 1360000 10570000 688025 7700000 145648 2056999 2004 0 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 0 OAK HILL CAPITAL PARTNERS II LP SEE PART V 111775 SEE PART V 0 (A) NAME OF INTERESTED PERSON: OAK HILL CAPITAL PARTNERS III, LP(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND THE ORGANIZATION: PARTNERSHIP MORE THAN 5% OWNED BY ROBERT AND ANNE BASS, TRUSTEES OF THE BOARD.(C) AMOUNT OF TRANSACTION: $111,775(D) DESCRIPTION OF TRANSACTION: CAPITAL CALL AND DISTRIBUTIONS(E) SHARING OF ORGANIZATION'S REVENUES: NO X 2302 FAIR MARKET VALUE X 38 8492727 FAIR MARKET VALUE X ATHLETIC GIFTS 1 1391 FAIR MARKET VALUE 0 1 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS FOR PUBLICLY TRADED SECURITIES ARE BASED ON THE NUMBER OF TYPE OF SECURITIES THAT EACH DONOR HAS CONTRIBUTED. AS FOR THE OTHER ITEMS, IT IS BASED ON NUMBER OF CONTRIBUTORS. SCHEDULE M, LINE 25: ATHLETIC GIFTS RECEIVED INCLUDES BACKPACKS AND GOALIE BAGS, AND EMBROIDERING. FORM 990, PART VI, SECTION A, LINE 2 ROBERT M. BASS AND ANNE T. BASS HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 ONCE THE DRAFT FORM 990 IS PREPARED, IT IS FIRST REVIEWED MY MIDDLESEX MANAGEMENT, INCLUDING THE CHIEF FINANCIAL OFFICER, THE SENIOR ACCOUNTANT AND THE HEAD OF SCHOOL. IT IS THEN DISTRIBUTED TO THE AUDIT COMMITTEE FOR THEIR REVIEW. AN AUDIT COMMITTEE MEETING IS THEN SCHEDULED TO DISCUSS THE RETURN, ANY CHANGES IN THE CURRENT YEAR, OR DIFFICULTIES ENCOUNTERED, ETC. AT THE TIME OF THE REVIEW OF THE DRAFT FORM 990, THE AUDIT COMMITTEE MAY DECIDE TO APPROVE THE FORM AS IT IS TO BE FILED. PRIOR TO FILING, A PUBLIC DISCLOSURE COPY OF THE FORM 990 WILL BE DISTRIBUTED TO ALL BOARD MEMBERS ELECTRONICALLY (OR, WHERE EMAIL IS NOT AVAILABLE, A HARD COPY OF THE FORM IS PROVIDED VIA MAIL) PRIOR TO THE ACTUAL FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST/GOVERNANCE QUESTIONNAIRES ARE DISTRIBUTED ANNUALLY TO ALL CURRENT VOTING BOARD MEMBERS, ALL TRUSTEE EMERITI (NON-VOTING), ALL FORMER TRUSTEES THAT WERE VOTING BOARD MEMBERS WITHIN THE LAST FIVE YEARS, ALL KEY-EMPLOYEES, AND ALL FORMER KEY-EMPLOYEES THAT LEFT EMPLOYMENT WITH THE SCHOOL AT SOME POINT WITHIN THE LAST 5 YEARS. IF FORMS ARE NOT COMPLETED, A SECOND REQUEST IS SENT OUT. ALL FORMS ARE REVIEWED BY THE CHAIR OF OUR TRUSTEE AND GOVERNANCE COMMITTEE AND A SUMMARY IS REPORTED TO THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT OF THE BOARD APPOINTS FOUR INDIVIDUALS TO SERVE ON THE COMPENSATION COMMITTEE. THE PRACTICE HAS BEEN TO APPOINT THE PRESIDENT OF THE BOARD, THE CHAIR OF THE FINANCE & BUDGET COMMITTEE, THE CHAIR OF THE TRUSTEES AND GOVERNANCE COMMITTEE AND THE VICE-CHAIR OF THE TRUSTEES AND GOVERNANCE COMMITTEE. THE COMMITTEE IS ADVISED BY OUTSIDE COUNSEL WHO ATTENDS THE MEETINGS, TAKES MINUTES, AND ADVISES THE COMMITTEE MEMBERS OF ANY LEGAL ISSUES OR QUESTIONS THAT ARISE IN THE PROCESS. THE PRESIDENT OF THE BOARD ASKS ALL TRUSTEES TO COMPLETE EVALUATION FORMS AT THE SPRING BOARD MEETING. THE PRESIDENT OF THE BOARD ALSO SOLICITED ORAL COMMENTS FROM THE TRUSTEES DURING AN EXECUTIVE SESSION AT THE SPRING BOARD MEETING. IN PREPARATION FOR THE INTERVIEW WITH THE HEAD OF SCHOOL IN JUNE, THE COMPLETED TRUSTEE EVALUATION FORMS ARE SUMMARIZED FOR THE MEMBERS OF THE COMPENSATION COMMITTEE. THE HEAD OF SCHOOL ALSO PREPARES A SUMMARY OF ACCOMPLISHMENT OF THE PRIOR SCHOOL YEAR AND STATEMENT OF GOALS MET FROM THE PREVIOUS REVIEW AND ESTABLISHED FOR THE COMING SCHOOL YEAR. AFTER THE INTERVIEW WITH THE HEAD, THE HEAD IS EXCUSED, AND THE COMMITTEE DELIBERATES IN EXECUTIVE SESSION TO DISCUSS THE PERFORMANCE REVIEW AND TO REVIEW A COMPILATION OF COMPENSATION AND BENEFIT DATA ASSEMBLED ON A BLIND BASIS BY ABOPS IN ORDER TO ESTABLISH A BASIS FOR ADJUSTING THE HEAD'S COMPENSATION AND BENEFITS FOR THE COMING SCHOOL YEAR. AFTER REACHING A CONCLUSION ON ADJUSTMENTS FOR THE COMPENSATION AND BENEFIT ARRANGEMENTS FOR THE COMING YEAR, THE HEAD IS INVITED TO HEAR THE RESULTS AND TO COMMENT. THE DECISIONS ARE RECORDED IN THE MINUTES OF THE COMMITTEE, AND THE CHANGES IN COMPENSATION (IF ANY) ARE MEMORIALIZED IN A LETTER AND WHERE NECESSARY IN AMENDMENTS TO THE EMPLOYMENT CONTRACT. THE RESULTS ARE REPORTED TO THE FULL BOARD IN EXECUTIVE SESSION (WITHOUT THE HEAD PRESENT) AT THE FALL BOARD MEETING. FORM 990, PART VI, SECTION C, LINE 19 MIDDLESEX SCHOOL MAKES ITS FORM 990 AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. CURRENTLY, THE SCHOOL HAS NOT MADE PUBLIC ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS, AS THIS IS NOT REQUIRED BY FEDERAL TAX LAW UNLESS THEY WERE INCLUDED ON A FORM THAT IS PUBLICLY AVAILABLE SUCH AS FORM 1023. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 19,116,772. CHANGE IN VALUE OF CHARITABLE REMAINDER TRUSTS: 3,969,096. TOTAL TO FORM 990, PART XI, LINE 5: 23,085,868. CONTINUATION OF ORGANIZATION'S MISSION: FORM 990, PART III, LINE 1 WE HONOR THE IDEAL, ARTICULATED BY OUR FOUNDING HEADMASTER, OF "FINDING THE PROMISE" IN EVERY STUDENT, AND WE WORK TOGETHER IN AN ATMOSPHERE OF MUTUAL TRUST AND SHARED RESPONSIBILITY TO HELP STUDENTS BRING THEIR TALENTS TO FRUITION AS KNOWLEDGEABLE, CAPABLE, RESPONSIBLE AND MORAL CITIZENS OF THE WORLD. AS A COMMUNITY, WE RESPECT THE INDIVIDUAL INTERESTS, STRENGTHS, AND NEEDS OF EACH STUDENT. WE ALSO VALUE THE RICH DIVERSITY OF BELIEF AND EXPERIENCE EACH OF US BRINGS TO THE SCHOOL. WE EXPECT THAT EACH STUDENT WILL BRING HIS OR HER BEST EFFORTS TO THE SHARED ENDEAVOR OF LEARNING AND THAT THE SCHOOL, THROUGH ITS FACULTY, WILL ENGAGE AND ENCOURAGE EACH STUDENT'S GROWTH, HAPPINESS, AND WELL-BEING. WE ASPIRE FOR ALL MIDDLESEX STUDENTS TO DEVELOP PERSONAL INTEGRITY, INTELLECTUAL VITALITY AND DISCIPLINE, AND RESPECT FOR THEMSELVES AND FOR OTHERS. WE EXPECT EACH STUDENT TO ENGAGE ENERGETICALLY AND COOPERATIVELY IN THE LIFE OF THE SCHOOL, AND WE SEEK TO INSPIRE IN ALL STUDENTS THE DESIRE TO SEEK UNDERSTANDING OF THEMSELVES AND THE LARGER WORLD, BOTH NOW AND IN THEIR FUTURES. OPERATING PRINCIPLES ACCOMPLISHING THIS MISSION IS THE SHARED RESPONSIBILITY OF THE WHOLE MIDDLESEX COMMUNITY. FOR THAT REASON THE SCHOOL EXPECTS, OF ALL ITS STUDENTS, DEDICATION TO ACADEMIC EXCELLENCE, WILLINGNESS TO WORK ENERGETICALLY AND COOPERATIVELY TOWARD COMMON GOALS IN ALL ACTIVITIES, RESPECT BOTH FOR THEMSELVES AND FOR THE INDIVIDUAL DIFFERENCES OF OTHERS, AND DETERMINATION TO REACH BEYOND MERELY COMFORTABLE LIMITS OF KNOWLEDGE AND EXPERIENCE. IN THE SAME SPIRIT THE SCHOOL PROVIDES STUDENTS WITH SMALL CLASSES AND A STRONG, RICH, VARIED CURRICULUM; WITH A TALENTED, DEDICATED, AND ACCESSIBLE FACULTY, MOST OF WHOM TEACH, COACH, AND LIVE ON CAMPUS WITH THE STUDENTS; WITH OUTSTANDING FACILITIES FOR ACADEMICS, ATHLETICS, AND THE ARTS; AND WITH A SOCIAL COMMUNITY WHOSE MEMBERS REPRESENT DIFFERENT BACKGROUNDS AND INTERESTS. TAKEN TOGETHER, THESE ELEMENTS - SUPPLEMENTED BY ADVISING, COUNSELING, SCHOOL ASSEMBLIES AND SPECIAL PROGRAMS, WEEKLY CHAPEL GATHERINGS, INFORMAL COURSES AND PEER SUPPORT GROUPS - MAKE UP A SECONDARY SCHOOL EXPERIENCE REMARKABLE FOR ITS BREADTH AND DEPTH. ESTIMATE OF VOLUNTEERS: FORM 990, PART I, LINE 6 FROM TIME TO TIME, MIDDLESEX SCHOOL MAY HAVE SEVERAL VOLUNTEERS WHO PARTICIPATE IN SCHOOL-RELATED COMMITTEES AND CLASS EVENTS, SUCH AS PROM, THE MIDDLESEX PARENTS ASSOCIATION ("MPA") OR ALUMNI ASSOCIATION. MPA - APPROXIMATELY 50 PARENTS ATTEND MEETINGS AND VOLUNTEER DURING THE YEAR. ALUMNI ASSOCIATION - APPROXIMATELY 35 ACTIVE ALUMNI VOLUNTEER