2012-05-14T15:11:18-05:00 2011-06-30 Runyon Kersteen Ouellette 20 Long Creek Drive South Portland ME 04106 990 2010-07-01 010224898 Hebron Academy Incorporated HEBR 2079662100 PO Box 309 Hebron ME 04238 James L Bisesti 2079662100 2012-05-14 1 Thomas Emery 2077732986 2010 2016-02-24 21:20:13Z John J King PO Box 309 Hebron ME 04238 14627539 0 X www.hebronacademy.org X 1941 ME To operate a non-profit, private school for students from middle school to high school, and to inspire and guide students to reach their highest potential in mind, body and spirit. Our core values are fundamental to the Hebron experience. 22 22 142 38 0 0 2763391 2829990 9690962 10340705 424507 352441 93653 105105 12972513 13628241 3460348 3549540 0 0 4618806 4849435 39504 37873 757056 5083019 5138529 13201677 13575377 -229164 52864 36473555 38916718 19397178 20065391 17076377 18851327 To operate a non-profit, private school for students from middle school to high school, and to inspire and guide students to reach their highest potential in mind, body and spirit. Our core values are fundamental to the Hebron experience. 0 0 9919467 3549540 10340705 Secondary and Middle School Education. 9919467 1 1 0 0 0 0 0 0 1 1 0 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 0 0 1 0 0 0 0 0 0 0 0 0 1 28 0 1 142 1 0 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 ME X X James L Bisesti 2079665268 PO Box 309 Hebron ME 04238 J Reeve Bright 2.00 X X 0 0 0 Stephen B Jeffries 2.00 X X 0 0 0 Paul S Goodof 2.00 X X 0 0 0 Debra B Bloomingdale 2.00 X X 0 0 0 Meredith Strang Burgess 1.00 X 0 0 0 Judah Sommer 1.00 X 0 0 0 Susan R Geismar 1.00 X 0 0 0 Susan A Gendron 1.00 X 0 0 0 Richard Bennett 1.00 X 0 0 0 Edward A Gottlieb 1.00 X 0 0 0 Wallace E Higgins 1.00 X 0 0 0 James B Hill 1.00 X 0 0 0 Kimball L Kenway 1.00 X 0 0 0 Scott R Nelson 1.00 X 0 0 0 Robert P Rich 1.00 X 0 0 0 Michael E Silverman 1.00 X 0 0 0 Scott E Wilson 1.00 X 0 0 0 Catherine T Crowley 1.00 X 0 0 0 Clement S Dwyer 1.00 X 0 0 0 William B Golden 1.00 X 0 0 0 Thomas N Hull III 1.00 X 0 0 0 Matthew W Johnson 1.00 X 0 0 0 John King 45.00 X 177528 0 43313 James Bisesti 40.00 X 107283 0 11915 284811 0 55228 2 0 1 0 0 2829990 117569 2829990 Tuition and fees 611600 10126512 10126512 Student Center 611710 127293 127293 Other services and fee 611710 55072 55072 Special assessments 611710 31828 31828 10340705 303190 303190 105105 105105 105105 105105 1047524 1025 999298 48226 1025 49251 49251 13628241 10340705 0 457546 3549540 3549540 232563 153900 54243 24420 3598306 2381204 839267 377835 220780 146102 51495 23183 510179 337614 118994 53571 287607 190326 67081 30200 15945 15945 37873 37873 32937 32937 167578 107342 42400 17836 56520 55970 550 349504 138201 125092 86211 14600 14600 1042694 783910 258784 136236 64232 19565 52439 870131 870131 901403 721122 180281 86715 86715 Food service 697414 697414 Recruitment 207223 207223 Student center 134176 134176 Bad debt 88277 88277 Athletics 81639 81639 255537 154952 47097 53488 13575377 9919467 2898854 757056 348335 348352 2059982 3421109 1689398 2325246 170191 136126 1588978 1588978 49668 48525 53795 122346 28044962 7056303 21638265 20988659 7207524 8072276 1880 2200 1665539 1862901 36473555 38916718 546834 593832 1993468 2878981 14700000 14700000 2077512 1826946 79364 65632 19397178 20065391 X 7914229 7734880 1170420 3008601 7991728 8107846 17076377 18851327 36473555 38916718 X 52864 1722086 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6796179 12902 1065836 320942 7553975 6476252 16465 580943 277481 6796179 7478444 35751 -761240 276703 6476252 1.00000 0 0 421822 421822 24687330 4943974 19743356 2245525 1629385 616140 690285 482944 207341 20988659 Class and activity funds 36415 Capital lease obligations 29217 65632 13628241 13575377 52864 1520722 201364 1722086 1774950 15317390 1520722 201364 1722086 13595304 32937 32937 13628241 13542440 0 13542440 32937 32937 13575377 Description of Intended Use of Endowment Funds: Part V, Line 4: To provide support for various activities of the Academy, including provision for financial aid and related expenditures. Description of Uncertain Tax Positions Under FIN 48: Part X: The Academy has adopted the provisions of Accounting for Uncertainty in Income Taxes as provided for in the Income Taxes topic of the FASB Accounting Standards Codification; however, this implementation has had no material impact on the Academy's financial statements. This statement clarifies the criteria that an individual tax position must satisfy for some or all of the benefits of that position to be recognized in an entity's financial statements. It also prescribes a recognition threshold of more likely-than-not, and a measurement attribute for all tax positions taken or expected to be taken on a tax return, in order for those tax positions to be recognized in the financial statements. There was no cumulative effect on the Academy's financial statements related to the adoption of these provisions, and no interest or penalties related to uncertain tax positions were accrued. The Academy is currently open to audit under the statute of limitations by the Internal Revenue Service and state taxing authorities for the years ended June 30, 2008 through 2011. Part XI, Line 8 - Other Adjustments: Change in value of split-interest agreements 201,364. Part XII, Line 2d - Other Adjustments: Change in value of split-interest agreements 201,364. 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 Hebron Academy publicizes its policy through student and staff handbooks, as well as other publicised advertisements. X X X X X 0 Marts & Lundy 1200 Wall Street West Lyndhurst NJ 07071 Fundraising Consulting 0 0 37873 0 37873 1 Student Financial Aid 158 3549540 Direct discount of tuition. Reduction of tuition due for recipient. Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Grant funds are direct reductions of tuition. Other Information: Part IV: Grant funds represent financial aid, this is not a cash transaction, but rather a reduction in the students overall tuition. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 John King 177528 0 0 0 0 0 12427 0 30886 0 220841 0 0 0 Part I, Line 1a The Head Master of Hebron Academy is provided with housing located on the Hebron Academy campus. This is in accordance with an employment agreement stipulating that the Head Master is required to live on the grounds of the campus A discretionary allowance is also available for reimbursement of housing related costs such as maintenance and cleaning. Finance Authority of Maine 010392006 56042BBJ5 2007-07-12 14700000 Provide funds for major capital improvement project. 0 0 0 14700000 257971 14442029 2009 0 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 1 Lehman Brothers Special Financing 29.900000000000 0 0 1 MBIA Inc 2.100000000000 1 0 1 X 13 117569 Fair market value 0 0 0 Form 990, Part VI, Section B, line 11 The Form 990 is prepared by Hebron's independent auditors, a draft is sent to the business manager who reviews the return and directs any questions/comments to the audit firm's personnel. Upon the business manager's approval of the return, it is then reviewed by the Audit Committee. Upon the approval of the return by the Audit Committee, the return is then finalized and filed with the IRS. Form 990, Part VI, Section B, line 12c Hebron regularly monitors such issues with employees and board members. Form 990, Part VI, Section B, line 15a In the first board meeting of the calendar year, the Board of Trustees goes into executive session to review the Head of School, which is followed up with a review of the Head of School's performance at the summer Board meeting. Compensation is then discussed for the next fiscal year based on performance and comparability data of other private schools. Form 990, Part VI, Section C, line 19 Available upon request at the Business Office. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized gains on investments: 1,520,722. Change in value of split-interest agreements 201,364. Total to Form 990, Part XI, Line 5: 1,722,086. Form 990, Part XII, Line 2c - Audit Oversight: The process has not changed.