2012-03-01T15:30:22-06:00 2011-06-30 DIXON HUGHES GOODMAN LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2010-07-01 560125490 CAROLINA DAY SCHOOL INC CARO 8282740757 1345 HENDERSONVILLE ROAD ASHEVILLE NC 28803 THOMAS TRIGG 8282740757 2012-03-01 1 AMY BIBBY 8282542254 2010 2016-02-24 21:20:13Z THOMAS TRIGG 1345 HENDERSONVILLE ROAD ASHEVILLE NC 28803 13256408 0 X WWW.CDSCHOOL.ORG X 1936 NC PROVIDING EDUCATIONAL SERVICES TO THE COMMUNITY 18 17 275 490 0 0 558503 578877 11749615 12210722 68378 83453 21165 128013 12397661 13001065 1375805 1563165 0 0 8520151 8781174 0 0 487975 2916096 3248637 12812052 13592976 -414391 -591911 21515726 22858694 2239584 3557109 19276142 19301585 X CDS EXISTS TO PROVIDE PARENTS AND CHILDREN IN THE GREATER ASHEVILLE AREA WITH A HIGH QUALITY, INDEPENDENT ALTERNATIVE TO PUBLIC AND PAROCHIAL SCHOOLS. 0 0 10945862 1563165 12210722 SEE SCHEDULE O ACCREDITED PRE-KINDERGARTEN THROUGH 12TH GRADE SCHOOL FOR BOYS AND GIRLS PROVIDING EDUCATIONAL AND RELATED SERVICES; APPROXIMATELY 654 STUDENTS.ACCREDITATIONS: IN JUNE 2005, CAROLINA DAY SCHOOL ACHIEVED DUAL ACCREDITATION BY THE SOUTHERN ASSOCIATION OF INDEPENDENT SCHOOLS AND THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS. TO EARN DUAL ACCREDITATION, CDS MET QUALITY STANDARDS, WAS EVALUATED BY AN OUTSIDE GROUP OF PEER PROFESSIONALS, AND IMPLEMENTED A SCHOOL PLAN FOCUSED ON STRATEGIC IMPROVEMENT AND STUDENT PERFORMANCE.MEAN SAT: CLASS OF 2011: 1770 - (579 CRITICAL READING / 590 MATH / 601 WRITING)SCHOLARSHIPS EARNED BY CLASS OF 2011: $1.5 MILLIONNATIONAL MERIT SCHOLARSHIP PROGRAM: THE CLASS OF 2011 HAS TWO COMMENDED STUDENTS NATIONAL MERIT SCHOLARSHIP PROGRAM AND ONE SEMI-FINALIST. ADVANCED PLACEMENT PROGRAM : CDS OFFERS 16 AP COURSES ACROSS THE FULL SPECTRUM OF OUR ACADEMIC PROGRAM-STUDENTS HAVE ADVANCED PLACEMENT OPPORTUNITIES THAT RANGE FROM ENVIRONMENTAL SCIENCE WHERE THEY MAKE USE OF OUR WONDERFUL NATURAL RESOURCES TO GOVERNMENT AND POLITICS WHICH COMPLEMENTS THE SCHOOL'S GLOBAL STUDIES CURRICULUM. THE PAST ACADEMIC YEAR 87% OF THE STUDENTS WHO TOOK AP EXAMS SCORED 3 OR HIGHER.ACADEMIC RECOGNITIONS: THE UPPER SCHOOL MATH TEAM HAS WON FIRST PLACE FOURTEEN YEARS AND SECOND PLACE FOR FOUR YEARS IN THE REGIONAL COMPETITION. THE SCIENCE OLYMPIAD TEAM REGULARLY ADVANCES STUDENTS FROM THE REGIONAL TO STATE COMPETITION. THE DEBATE TEAM HAS PARTICIPATED IN BOTH THE HARVARD AND DUKE TOURNAMENTS IN RECENT YEARS.ARTS PROGRAM: OPPORTUNITIES EXIST FOR STUDENTS IN ALL DIVISIONS TO PARTICIPATE IN A VARIETY OF ARTS PROGRAMS INCLUDING THEATRE, MUSIC, AND ART. UPPER SCHOOL ART ELECTIVES INCLUDE COURSES IN PHOTOGRAPHY, THEATRE, SPEECH, DEBATE, CHORUS, MUSIC THEORY (INCLUDING AP), PIT BAND, JEWELRY/METALSMITHING, POTTERY, PAINTING, DRAWING, AND ADVANCED STUDIO ART. WE ALSO OFFER ART HISTORY INCLUDING AP ART HISTORY.LANGUAGE: CDS OFFERS 13 YEARS OF SPANISH, BEGINNING IN KINDERGARTEN, AND SEVEN YEARS OF FRENCH IN GRADES 6 - 12. MANDARIN CHINESE IS ALSO OFFERED IN THE UPPER SCHOOL.NUMBER OF SPORTS OFFERED: 10 SPORTS AND 30 TEAMS (VARSITY, JUNIOR VARSITY, MIDDLE SCHOOL) INCLUDING FIELD HOCKEY, VOLLEYBALL, BASKETBALL, SOCCER, TENNIS, CROSS COUNTRY, BASEBALL, GOLF, SWIMMING, AND TRACK & FIELD.NUMBER OF STATE CHAMPIONSHIPS: 81 SINCE 1995 INCLUDING 24 TEAM AND 57 INDIVIDUAL NCISAA STATE CHAMPIONSHIPS.CHARACTER EDUCATION: CDS IS NATIONALLY KNOWN AMONG INDEPENDENT SCHOOLS FOR ITS CHARACTER EDUCATION PROGRAM. THE TENETS OF COMPASSION, RESPECT & RESPONSIBILITY, INTEGRITY, AND A THIRST FOR PERSONAL EXCELLENCE ARE INTERWOVEN INTO CURRICULUM AND ACTIVITIES.COMMUNITY SERVICE: COMMUNITY SERVICE IS AN INTEGRAL PART OF THE CURRICULUM FROM PK THROUGH TWELFTH GRADES. APPROXIMATELY 25 PERCENT OF ALL UPPER SCHOOL STUDENTS ARE MEMBERS OF THE HIGHLANDER SOCIETY WHICH RECOGNIZES STUDENTS WHO HAVE A MINIMUM OF 100 HOURS OF SERVICE.KEY SCHOOL: ESTABLISHED IN 1997; PROVIDES BRIGHT STUDENTS WITH LANGUAGE-BASED LEARNING DIFFERENCES THE EDUCATIONAL OPPORTUNITY TO OVERCOME THEIR DIFFERENCES AND TO ACHIEVE THEIR MAXIMUM POTENTIAL IN SCHOOL AND IN LIFE. THE KEY SCHOOL ENROLLS STUDENTS IN GRADES ONE THROUGH EIGHT. IN ADDITION, STUDY SUPPORT SERVICES ARE OFFERED TO STUDENTS IN THE MIDDLE SCHOOL AND THE UPPER SCHOOL. TEACHERS ARE WELL-TRAINED IN THE ORTON-GILLINGHAM APPROACH TO MULTISENSORY INSTRUCTION. KEY SCHOOL'S TEACHER TRAINING PROGRAM IS ACCREDITED BY IMSLEC AND SUPERVISED BY AN ACADEMY OF ORTON-GILLINGHAM PRACTITIONERS AND EDUCATOR'S FELLOW. THE ENTIRE ADMINISTRATIVE TEAM HAS RECEIVED THE RANKING OF CERTIFIED ACADEMIC LANGUAGE THERAPIST THROUGH ALTA. IN ADDITION, 13 FACULTY MEMBERS HAVE SUCCESSFULLY COMPLETED THE NATIONAL TESTING THROUGH ALTA RECEIVING THE RANKING OF ASSOCIATE ACADEMIC LANGUAGE THERAPIST.GURIAN MODEL SCHOOL: AS A RESULT OF CAROLINA DAY SCHOOL'S DEDICATION TO PROVIDING AN EDUCATIONAL ENVIRONMENT IN WHICH EVERY BOY AND GIRL IS GIVEN THE OPPORTUNITY TO FULFILL HIS OR HER INDIVIDUAL POTENTIAL, THE SCHOOL WAS DESIGNATED A GURIAN INSTITUTE MODEL SCHOOL IN 2006. CAROLINA DAY IS COMMITTED TO ONGOING FACULTY TRAINING IN BRAIN-BASED AND GENDER-SPECIFIC TEACHING STRATEGIES TAUGHT THROUGH THE INSTITUTE (WWW.GURIANINSTITUTE.COM). THE SCHOOL SEEKS TO UNDERSTAND AND INCORPORATE BEST TEACHING PRACTICES FOR BOYS AND GIRLS IN BOTH COED AND SINGLE-GENDER CLASSES. AS GURIAN INSTITUTE CERTIFIED MASTER TRAINERS, CAROLINA DAY PRINCIPALS CLAUDIA SHERRY AND PEGGY DANIELS OFFER WORKSHOPS AND RESOURCES FOR CDS TEACHERS AND PARENTS. THEY SERVE AS GURIAN SUMMER INSTITUTE TRAINERS AND ALSO VISIT SCHOOLS ACROSS THE NATION TO TRAIN TEACHERS, ADMINISTRATORS, AND PARENTS IN THE BENEFITS OF USING BRAINBASED RESEARCH AND TEACHING STRATEGIES IN THE CLASSROOM.ALUMNI: APPROXIMATELY 1,958 ALUMNI ARE MEMBERS OF THE ALUMNI ASSOCIATION AND 65 CHILDREN OF 47 ALUMNI ARE CURRENTLY ENROLLED. 10945862 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 57 0 1 275 1 0 0 0 0 1 1 1 1 0 0 0 0 X 18 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X X DIANE HENSON BUSINESS MANAGER 8282740757 1345 HENDERSONVILLE ROAD ASHEVILLE NC 28803 DR CHARLES R GERSHON 1.00 X 0 0 0 CHARLES KEITH LOVE 10.00 X X 0 0 0 JEFFREY BAKER 3.00 X X 0 0 0 CHRISTINE NEVANT 2.00 X X 0 0 0 PAMELA TURNER 2.50 X X 0 0 0 STARLING UNDERWOOD III 1.30 X 0 0 0 JOHN FAV CECIL 1.50 X 0 0 0 WILLIAM T GAY 5.00 X X 0 0 0 PAUL F DISMUKES 1.00 X 0 0 0 BRENDA G NASH 1.00 X 0 0 0 JACKIE LALOR 1.80 X 2535 0 0 CHARLES PICKELSIMER III 1.00 X 0 0 0 JOHN RE RUHL SR 3.00 X 0 0 0 MATT BROOKSHIRE 1.00 X 0 0 0 DAVID K WATKINS 2.00 X 0 0 0 MARIA BRYAN 8.00 X 0 0 0 DR ROLAND M ZAHN 1.00 X 0 0 0 BETSY JORDAN 1.00 X 0 0 0 SUSAN V DELALOYE 1.50 X 0 0 0 KAREN CLERICI 2.00 X 0 0 0 THOMAS TRIGG 75.00 X 133686 0 14724 RUSSELL E SLIPHER JR 50.00 X 83252 0 6955 CLAUDIA SHERRY 50.00 X 97600 0 14608 DR BEVERLY H SGRO 50.00 X 184993 0 9916 502066 0 46203 2 1 1 0 ELECTRONIC OFFICE 1257 SWEETEN CREEK RD ASHEVILLE NC 28806 COMPUTER MAINTENANCE 187046 INSPECTION READY CLEANING PO BOX 1623 SKYLAND NC 28776 CLEANING SERVICE 174805 2 106616 472261 87818 578877 TUITION & FEES 611710 12210722 12210722 12210722 83450 83450 152910 152907 3 3 3 208415 106616 102436 105979 105979 SCHOOL STORE/SUPPLIES 611710 18062 18062 BOOK INCOME 611710 3972 3972 22034 13001065 12210722 0 211466 1563165 1563165 509365 340901 95177 73287 6115342 4916397 909185 289760 276258 216727 45043 14488 1398114 1191799 157974 48341 482095 360365 99854 21876 24313 24313 45348 45348 1225 1225 447195 171664 273509 2022 94149 94149 318826 214088 72128 32610 205394 205394 330092 330092 66376 66376 11142 11142 56777 51186 5591 556516 556516 66574 66574 CLASS/EDUCATION EXPENSE 510483 510483 BAD DEBT EXPENSE 239503 239503 OTHER EDUCATIONAL EXPEN 184771 184771 ACTIVITY/ATHLETIC EXPEN 89953 89953 13592976 10945862 2159139 487975 400 400 1991823 2541512 2431508 1561600 170979 157575 15000 152178 70981 22147799 7181244 13776975 14966555 2991863 3545071 21515726 22858694 1217124 1239439 957091 785928 1450000 65369 81742 2239584 3557109 X 15118481 15046294 2043964 1796581 2113697 2458710 19276142 19301585 21515726 22858694 X -591911 617354 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2988052 39560 666558 149099 3545071 2723565 41495 386048 163056 2988052 3453115 117153 -679699 75061 91943 2723565 0.31100 0.68700 0.00200 0 0 5159505 5159505 12286693 4812090 7474603 2119995 321342 1798653 2136306 1844560 291746 445300 203252 242048 14966555 CAPITAL LEASE OBLIGATIONS - COMPUTERS 81742 81742 13001065 13592976 -591911 617354 617354 25443 13719695 617354 617354 13102341 -101276 -101276 13001065 13694252 102436 102436 13591816 1160 1160 13592976 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ORGANIZATION UTILIZES DISTRIBUTIONS FROM ENDOWMENT FUNDS AS DIRECTED BY DONORS AND FOR A VARIETY PROGRAMS AND SERVICES OFFERED BY THE SCHOOL AS PART OF ITS EXEMPT PURPOSE. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: INCOME TAX STATUS- THE SCHOOL IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND THE STATUTES OF THE STATE OF NORTH CAROLINA. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS PROVIDED IN THE FINANCIAL STATEMENTS. THE SCHOOL HAS ADOPTED THE NEW GENERALLY ACCEPTED ACCOUNTING PRINCIPAL FOR ACCOUNTING FOR THE RECOGNITION AND MEASUREMENT FOR UNCERTAINTY IN INCOME TAXES AS OF JULY 1, 2009. THE SCHOOL'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE SCHOOL, INCLUDING ANY RELATED INTEREST AND PENALITIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION TAKEN BY MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF JUNE 30, 2011 AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. PART XII, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES -102,436. INVESTMENT FEES IN REV 1,160. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES 102,436. PART XIII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT FEES IN REV 1,160. 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 CAROLINA DAY SCHOOL ADMINISTERS ITS ADMISSIONS, SCHOLARSHIP, ATHLETIC, PERSONNEL, AND OTHER PROGRAMS WITHOUT REGARD TO RACE, CREED, COLOR, NATIONAL OR ETHNIC ORIGIN. AUCTION 289774 101516 188258 25850 17330 20045 23238 SCHOOL SUPPLY SALES 15203 15203 12009 1 10054 5100 4954 3964 315031 106616 208415 25850 17330 20045 39211 102436 105979 1 MERIT SCHOLARSHIPS 36 119775 FMV NEED-BASED FINANCIAL AID 144 1443390 FMV PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: FINANCIAL AID IS AWARDED BASED ON NEED AS DETERMINED THROUGH ANALYSIS BY SCHOOL AND STUDENT SERVICES BY NAIS, BALANCED WITH FUNDS AVAILABLE. MERIT SCHOLARSHIPS ARE AWARDED TO STUDENTS WHO ARE NEW TO OUR UPPER SCHOOL AND ARE BASED ON ACADEMIC ACHIEVEMENT. STUDENTS CAN CONTINUE TO RECEIVE THE AWARD EACH YEAR UNTIL GRADUATION AS LONG AS THEY MEET QUALIFICATIONS. X X X X 0 1 0 0 0 0 0 0 0 DR BEVERLY H SGRO 88817 0 0 0 96176 0 0 0 9916 0 194909 0 96176 0 PART I, LINE 4B DR. BEVERLY SRGO, FORMER HEAD OF SCHOOL RECEIVED PAYMENT FROM A NONQUALIFIED PLAN IN ACCORDANCE WITH THE TERMS OF THE PLAN. THE PAYMENT INCLUDED ON THE 2010 FORM W-2 WAS $96,176. SUPPLEMENTAL INFORMATION PART III DR. BEVERLY SGRO, FORMER HEAD OF SCHOOL RECEIVED A 2010 FORM W-2 FROM THE ORGANIZATION. THE W-2 INCLUDED PAYMENT FOR SERVICES RENDERED AS HEAD OF SCHOOL FOR A PORTION OF THE 2010 CALENDAR YEAR PRIOR TO FISCAL YEAR 07/01/2010 - 06/30/2011. THE 2010 FORM W-2 ALSO INCLUDED A DISTRIBUTION FROM THE NONQUALIFIED DEFERRED RETIRMENT PLAN IN WHICH SHE PARTICIPATED IN. THOMAS TRIGG RELOCATION COSTS X 15000 15000 0 1 1 15000 X 15 87818 FMV 0 0 1 THIRD PARTY USE: PART I, LINE 32B: THE ORGANIZATION USES THIRD PARTY FINANCIAL ADVISORS TO PROCESS AND SELL DONATED STOCKS UPON RECEIPT. FORM 990, PART VI, SECTION B, LINE 11 THE 990 WAS REVIEWED IN DEPTH BY THE FINANCE COMMITTEE WITH ASSISTANCE OF THE TAX PREPARER AND THEN PROVIDED TO THE ENTIRE VOTING BOARD, PRIOR TO THE RETURNS FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS ARE REQUIRED TO SIGN AN ANNUAL CONFLICT OF INTEREST POLICY. THE ORGANIZATIONS CFO MONITORS TRANSACTIONS FOR THE SCHOOL TO IDENTIFY ANY POTENTIAL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION FOR THE HEAD OF SCHOOL/PRESIDENT IS DETERMINED BY A COMPENSATION COMMITTEE CONSISTING OF INDEPENDENT MEMBERS WHO OBTAIN COMPARABLE DATA FROM SIMILAR SCHOOLS. COMPENSATION FOR THE ASSOCIATE HEAD OF SCHOOL/VICE-PRESIDENT IS DETERMINED BY THE HEAD OF SCHOOL WHO USES COMPARABLE DATA FROM SIMILAR SCHOOLS. ANNUAL SALARY INCREASE IS THE SAME AS FOR ALL OTHER EMPLOYEES OF THE SCHOOL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 617,354.