2012-02-28T15:39:05-07:00 2011-06-30 990 2010-07-01 041200600 CONCORD ACADEMY CONC 9784022200 166 Main Street Concord MA 01742 Judi B Seldin 9784022263 2012-02-28 2010 2016-02-24 21:20:13Z Concord Academy 166 Main Street Concord MA 01742 34729720 0 X www.concordacademy.org X 1922 MA See Schedule O for Form 990, Part 1, Line 1 22 19 376 255 0 0 6147927 5425303 15709604 16056045 1055323 3271388 22690 62405 22935544 24815141 3061810 3116709 0 0 10678234 10413072 33152 0 1616549 6828695 6825178 20601891 20354959 2333653 4460182 83389792 94635722 23829610 23031188 59560182 71604534 Concord Academy engages its students in a community animated by a love of learning, enriched by a diversity of backgrounds and perspectives, and guided by a covenant of common trust. 0 0 16029858 3116709 16056045 Secondary Education: 365 students in grades 9 through 12; Educational Programs, General/Other: Summer Camp 7-week program for children in grades pre-K through 9 0 0 0 16029858 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 79 0 1 376 1 0 0 0 0 0 1 1 0 0 0 0 X 22 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X Concord Academy Finance Office 9784022261 166 Main Street Concord MA 01742 D Pike Aloian 1.00 X 0 0 0 Elizabeth Ballantine 1.00 X 0 0 0 Paul S Barth 1.00 X 0 0 0 W Anthony Brooke 1.00 X 0 0 0 Frances Savoia Brown 1.00 X 0 0 0 Amy Cammann Cholnoky 1.00 X 0 0 0 Jeffrey L Eberle 2.00 X X 0 0 0 Lisa Frusztajer 2.00 X X 0 0 0 Silvia Gosnell 1.00 X 0 0 0 Ann L Gund 1.00 X 0 0 0 Sandra Willett Jackson 1.00 X 0 0 0 Althea S Kaemmer 1.00 X 0 0 0 Amelia Lloyd McCarthy 2.00 X X 0 0 0 John J Moriarty 2.00 X X 0 0 0 Susan Hall Mygatt 1.00 X 0 0 0 Katrina B Pugh 1.00 X 0 0 0 Fay Lampert Shutzer 1.00 X 0 0 0 Lowell S Smith 1.00 X 0 0 0 Jorge Solares Parkhurst 1.00 X 0 0 0 Kelsey D Stratton 1.00 X 0 0 0 Kim Williams 1.00 X 0 0 0 Richard G Hardy 55 X X 279038 0 31980 Judi Seldin 55 X 175959 0 40570 Pamela Safford 55 X 138818 0 15358 Robert Koskovich 55 X 110775 0 18996 David Rost 55 X 104019 0 18598 808609 0 125502 5 0 1 0 Matthew Construction Company 4 Mechanic Street Natick MA 01760 Construction and Remodeling 142957 Joe Pouech Flooring 17 Sherman Place Woburn MA 01801 Flooring and Installation 123395 2 0 0 43959 0 0 5381344 592835 5425303 Tuition and Fees/Summer Programs 611110 15904200 15904200 0 0 Misc Income 611110 148691 148691 0 0 Student Loan Income 611110 3154 3154 0 0 0 0 0 0 16056045 855502 0 0 855502 16358 0 0 16358 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11599596 441410 9468811 172667 2130785 268743 2399528 0 0 2399528 69964 43959 41197 28767 0 28767 20125 1274 18851 0 0 18851 244873 230630 14243 0 0 14243 Faculty Loan Interest 611110 544 0 0 544 0 0 0 0 544 24815141 16056045 0 3333793 3116709 3116709 540209 540209 7702901 5956539 942304 804058 542438 434378 49424 58636 1059189 786097 152104 120988 568335 414297 98041 55997 17026 16741 285 90421 90421 76959 76959 279377 253492 15879 10006 96548 48889 23838 23821 394258 195749 111870 86639 267389 195245 50049 22095 820547 750633 46180 23734 179736 73957 49010 56769 85132 59442 10802 14888 676692 523755 91969 60968 1350197 1242587 65946 41664 74540 74540 Equipment Purchase Repairs & Maintenance 721706 641716 32484 47506 Total Food 1253769 1067105 59577 127087 Miscellaneous Expenses 440881 269268 110205 61408 20354959 16029858 2708552 1616549 14835 12666 10070594 13268905 6490568 5337972 58872 173248 6894 5464 0 0 34444 32815 80004 61929 345046 481498 39080486 19924857 19707510 19155629 42841379 52858407 2262225 2645874 84118 83389 1393303 517926 83389792 94635722 999784 1046781 0 0 7316497 7499547 12542784 11450069 0 0 1337768 1383855 0 0 0 0 1632777 1650936 23829610 23031188 X 23489722 28141879 10638334 17633433 25432126 25829222 59560182 71604534 83389792 94635722 X 4460182 7584170 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 44247520 1763221 10561749 324546 1843454 0 54404490 38855071 2798398 4759050 334401 1830598 0 44247520 46986395 1842416 -7751951 378962 1842827 0 38855071 0.36 0.64 0 0 0 0 4919539 4919539 0 30155381 17140235 13015146 0 90919 40650 50269 0 3635878 2743972 891906 0 278769 0 278769 19155629 0 0 Alternative Investment; Hedge Fund 2645874 F 2645874 Student Loans - Net 83389 C 83389 Split Interest Agreements w/third party 281171 Cash Surrender Value of Life Insurance 151186 Other Assets 8500 Bond Issuance Costs 77069 517926 0 Bookstore Deposits 558359 Capital Lease Obligations 45059 Housing Deposits 15564 Interest Rate Swap - Liability 587684 Registration Deposits 444270 1650936 24815141 20354959 4460182 7753153 0 0 0 -168983 7584170 12044352 29537922 7753153 0 0 -3303473 4449680 25088242 0 -273101 -273101 24815141 17493570 0 0 0 494564 494564 16999006 76959 3278994 3355953 20354959 SchD_P05_S00_L04 Schedule D, Part V, Line 4 Concord Academy's Endowment supports and sustains forward-thinking initiatives; provides the flexibility to act on great educational opportunities; underwrites the maintenance and enhancement of buildings and grounds; and offers stability in times of fiscal uncertainty. Concord Academy's strategic plan places a priority on increasing our endowment for financial aid, faculty compensation and maintenance of our historic campus. SchD_P10_S00_L02 Schedule D, Part X, Line 2 N/A SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Changes in value of Split-Interest Agreements $52,480; Unrealized loss on Interest Rate Swap $-52,735; $-168,728 loss on debt extinguishment for a net of $-168,983 SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Financial Aid Grants $-3,010,251; Investment Advisor Fees $-76,959; Change in Value Split Interest Agreement $52,480; Gross Proceeds Sale of School-Owned Condominium $-268,743 for a total of $-3,303,473 SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Bookstore and Special Event Expenses $-273,101 SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Bookstore & Special Event Expenses $273,101; Unrealized Loss on Interest Rate Swap $52,735; unrealized loss on debt extinguishment $168,728 for a total of $494,564 SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Financial Aid $3,010,251; Gross Proceeds School-Owned Condominium for a total of $3,278,994 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SchE_P01_S00_L03 Schedule E, Part I, Line 3 The following statement is published annually in the Boston Globe: We member schools of the Association of Independent Schools in New England reaffirm our long standing policy of nondiscriminatory admission of students. We admit students of any race, color, religious affiliation, national and ethnic origin and qualified handicapped students to all rights, privileges, programs and activities generally accorded or made available to students at our schools. We do not discriminate in violation of any law or statute in the administration of our educational policies, admissions policies, scholarship and loan program, and athletic or other school administered programs. Information and school catalogues may be obtained by calling the schools. East Asia and the Pacific 0 0 Program Services Admission fairs, school visits and interviews with prospective students 22085 0 0 22085 0 0 0 0 0 0 Benefit for Financial Aid 134048 43959 90089 0 0 0 13947 0 27249 0 0 134048 43959 90089 0 0 0 13947 0 27249 41196 48893 0 0 0 0 0 0 20125 1274 1 0.27 20125 0 0 0 1274 1274 18851 MA 1 0 0 0 1 0 Concord Academy Advancement Office 166 Main Street Concord MA 01742 0 0 0 1 Tuition Grants, Bookstore Account Funding, Health Insurance, Music Lessons, Supplemental Aid, Transportation Expense Aid and Miscellaneous Expense Aid 90 3116709 0 FMV None SchI_P01_S00_L02 Schedule I, Part I, Line 2 Concord Academy awarded financial assistance to 90 students including tuition grants and assistance for music lessons, health insurance, bookstore purchases, transportation and miscellaneous expenses. Assistance is awarded on a financial need basis through the Financial Aid Office. Both the Financial Aid Director and the Finance Office staff administer and monitor all grants and student spending in the recipient's Concord Academy Bookstore account on a monthly basis. The Financial Aid Director meets monthly with each Financial Aid recipient to review spending. Class attendance is required and monitored by the Academic Office staff. X 1 1 X X X X 0 1 0 0 0 0 0 0 0 Richard G Hardy 279038 0 0 0 0 0 22323 0 9945 0 311306 0 0 Judi Seldin 175959 0 0 0 0 0 30914 0 12767 0 219640 0 0 0 Pamela Safford 138818 0 0 0 0 0 11322 0 4779 0 154919 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a The Head of School and some faculty and staff live in school-owned housing as a requirement of their jobs. SchJ_P01_S00_L03 Schedule J, Part I, Line 3 The Concord Academy Board of Trustees Executive Committee also acts as the Compensation Committee. This group reviews and deliberates compensation for the Head of School and the Chief Financial Officer using peer school data and financial reporting (Form 990), and other external sources. Compensation for FY 10-11 for these positions was reviewed and approved by the Committee in the Spring of 2010. SchJ_P01_S00_L04 Schedule J, Part I, Line 4 Judi Seldin, CFO, participates in a nonqualified retirement plan; employer contribution for FY 10/11 in the amount of $16,000 is included in Form 990, Part VII, Column F and Schedule J, Part II, Column C. Massachusetts Development Finance Agency 043431814 Noneavail 2010-12-17 11526201 Refunding of 12/23/1997 & 11/23/2004 Issues 0 0 0 11526201 0 11526201 0 0 0 0 0 0 0 0 0 2006 1 0 1 1 0 0 0 0 0 0 0 0 1 0 1 1 RBS Citizens NA 9 0 0 0 0 1 Faculty Staff Charges Bookstore Account X 77 77 0 0 1 Highly Compensated Real Estate Purchase X 9900 5388 0 1 1 Trustee Real Estate Purchase X 2000000 1383855 0 1 1 1389320 Ben Eberle Family Member of a Trustee 34803 Employment 0 X 59 592835 See Part 2 0 0 1 1 SchM_P01_S00_L09 Schedule M, Part I, Line 9 Column D - method of determining revenues: mean of the high/low price of stock on the date of the gift SchM_P01_S00_L32b Schedule M, Part I, Line 32b UBS Securities, LLC and affiliate of UBS Financial Services, Inc F990_P01_S00_L01 Form 990, Part I, Line 1 Concord Academy is a four-year, coeducational, independent college-preparatory school enrolling studens in grades nine through twelve. The school was founded in 1922 and is located in Concord, Massachusetts. The 2010-2011 enrollment was composed of 365 students, 148 of whom were boarding students and 217 were day students coming from 19 states/territories and eight foreign countries. F990_P06_S0B_L11a Form 990, Part VI, Section B, Line 11a Upon completion of the 2010 Form 990 the form was presented for discussion and review to members of the Audit Committee of the Board of Trustees. A copy was then made available to each Concord Academy Trustee on the Trustee Website for further review. Soon after the 2010 Form 990 was efiled with the IRS. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c In October of each year new and returning trustees are asked to complete, sign and return to the Assistant to the Head of School a Conflict of Interest form. Once returned, each form is reviewed by the Head and CFO to ensure compliance. In the event of a conflict, said conflict would be discussed with the Committee on Trustess and/or legal counsel to determine how to proceed. The original forms are kept in the individual trustee files in the Head's Office. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The Concord Academy Board of Trustees Executive Committee also acts as the Compensation Committee. This group reviews and deliberates compensation for the Head of School and the Chief Financial Officer using peer school data and financial reporting (Form 990), and other external sources. Compensation for FY 10-11 for these positions was reviewed and approved by the Committee in the Spring of 2010. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The organization does not make these documents available to the public. F990_P11_S00_L05 Form 990, Part XI, Line 5 Net unrealized gains on investments $7,753,153; Changes in value of Split-Interest Agreements $52,480; Unrealized loss on Interest Rate Swap $-52,735; $-168,728 loss on debt extinguishment for a net of $7,584,170