2012-11-15T10:44:40-06:00 2012-06-30 020476956 TYLER SIMMS & STSAUVEUR CPAS PC 19 MORGAN DRIVE LEBANON NH 03766 990 2011-07-01 030182055 LYNDON INSTITUTE INC LYND 8026266122 168 INSTITUTE CIRCLE LYNDON CENTER VT 05850 RICHARD D HILTON 8026266122 2012-11-14 1 W JAY SIMMS P00435321 6036530044 2012-10-19 2011 2016-02-24 21:20:13Z RICHARD D HILTON POBOX 127 LYNDON CENTER VT 05850 14132389 0 X WWW.LYNDONINSTITUTE.ORG X 1923 VT LYNDON INSTITUTE IS AN ACADEMIC COMMUNITY PROVIDING STUDENTS WITH EXCELLENT PREPARATION FOR SUCCESS IN SCHOOL, COLLEGE, CAREERS, AND LIFE. 27 27 213 19 8168 7168 642819 800261 11636073 12371320 106633 735954 66752 24407 12452277 13931942 141269 304878 0 0 6724760 6570221 0 0 178208 5987694 5842486 12853723 12717585 -401446 1214357 24804027 24991340 15575195 14548535 9228832 10442805 LYNDON INSTITUTE IS AN ACADEMIC COMMUNITY PROVIDING STUDENTS WITH EXCELLENT PREPARATION FOR SUCCESS IN SCHOOL, COLLEGE, CAREERS, AND LIFE. 0 0 7747855 304878 12371230 LYNDON INSTITUTE PROVIDES A HIGH SCHOOL EDUCATION TO ITS STUDENTS TO HELP PREPARE THEM FOR A SUCCESSFUL LIFE. SEVEN SENDING TOWNS (BURKE, EAST HAVEN, LYNDON, NEWARK, SUTTON, AND UNION DISTRICT #37 WHICH COMPRISES OF WHEELOCK AND SHEFFIELD) HAVE CONTRACTS WITH LYNDON INSTITUTE TO ACCEPT THEIR STUDENTS AUTOMATICALLY WITH NO ADMISSIONS NEEDED. THERE ARE VARIOUS NON-SENDING SCHOOLS, WHO OFFER SCHOOL CHOICE, AND THOSE STUDENTS HAVE CHOOSEN LYNDON INSTITUTE. LYNDON INSTITUTE OFFERS A RESIDENTIAL PROGRAM FOR SOME DOMESTIC STUDENTS (5-DAY BOARDING), BUT PRIMARILY INTERNATIONAL STUDENTS (7-DAY BOARDING). THESE NON-SENDING SCHOOLS AND INTERNATIONAL STUDENTS ARE A DIRECT RESULT OF RECRUITING EFFORTS THROUGH FAIRS, ETC. 7747855 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 35 0 1 213 1 1 1 0 0 0 0 0 0 0 X 27 27 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 0 0 1 0 0 X X MEAGAN NEWLAND 8026266122 PO BOX 127 LYNDON CENTER VT 05850 DAVID ARONOFF 4.00 X 0 0 0 RICHARD ASHTON 4.00 X X 0 0 0 LINDA BISHOP 4.00 X 0 0 0 EDMUND BUSCHMANN 4.00 X 0 0 0 EARL DANIELS 4.00 X 0 0 0 MARLIN DEVENGER 4.00 X 0 0 0 JEANNE ELLIOT 4.00 X X 0 0 0 PATRICIA EMERY 4.00 X 0 0 0 MEREDITH FELTUS 4.00 X 0 0 0 JOSEPH FLYNN 4.00 X 0 0 0 LAURA ASHTON 4.00 X 0 0 0 JAMES C GALLAGHER 4.00 X 0 0 0 STEPHEN GRAY 4.00 X 0 0 0 DANIEL HEATH 4.00 X 0 0 0 PETER HOPKINS 4.00 X 0 0 0 ELIZABETH KOENIG 4.00 X 0 0 0 GREGORY MCCORMICK 4.00 X 0 0 0 JAMES MCDONALD 4.00 X 0 0 0 NORMAN MESSIER 4.00 X X 0 0 0 RANDALL NORTHROP 4.00 X X 0 0 0 EMERY NOYES 4.00 X 0 0 0 RYAN NOYES 4.00 X 0 0 0 SARA SIMPSON 4.00 X 0 0 0 ELAINE SMITH 4.00 X 0 0 0 DAVID STAHLER SR 4.00 X 0 0 0 LORRAINE MATTIES 4.00 X 0 0 0 TIFFANY YOUNG 4.00 X 0 0 0 RICHARD D HILTON 40.00 X 114444 0 23776 114444 0 23776 1 0 0 0 BROCK AND COMPANY INC 257 GREAT VALLEY PARKWAY MALVERN PA 19355 FOOD VENDOR 722843 APCO BUILDING MAINTENANCE INC 74 CRESCENT BEACH DR BURLINGTON VT 05408 MAINTENANCE 410314 RUGGCO INC 259 CARTER ST BARNET VT 05821 CONSTRUCTION 266854 PRESIDIO 10 SIXTH ROAD WOBURN MA 01801 TECHNOLOGY 178306 KIRBY MOUNTAIN LAWNS AND LANDSCAPING 101 KIRBY ROAD EAST BURKE VT 05832 LAWNCARE 128763 5 455662 344599 106699 800261 TUITION AND FEES 611600 9175881 9175881 RESIDENTIAL PROGRAM IN 611600 2735554 2735554 FOOD SALES 721310 137857 137857 TRANSPORTATION 480000 101851 101851 ATHLETIC INCOME 711210 20187 20187 199990 199990 12371320 299806 299806 208974 184567 24407 24407 8168 16239 452028 0 15880 452028 -15880 436148 436148 13931942 12371320 8168 752193 304878 304878 117172 117172 4989592 3399231 1540480 49881 1118365 693944 403350 21071 345092 218964 122172 3956 64224 64224 799917 731874 68043 51838 3791 41793 6254 721442 493756 227686 117394 79130 33620 4644 525935 131929 394006 698972 111348 587624 191705 121258 70447 TAXES 11405 11405 REPAIRS AND MAINTENANCE 986229 720574 264633 1022 COMMISSIONS AND RECRUIT 269592 269592 PROFESSIONAL FEES 193199 2000 167199 24000 1210634 735178 408076 67380 12717585 7747855 4791522 178208 214125 369959 3383 99858 139878 1406818 1226402 60811 72059 82112 43167 20129877 7334514 12773515 12795363 8639698 8790408 1523707 1554104 24804027 24991340 1037328 1340944 3898744 3588612 8057703 7685888 2581420 1933091 15575195 14548535 X 4994226 5893670 2300983 2620256 1933623 1928879 9228832 10442805 24804027 24991340 X 1214357 -384 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 9666664 8995 611352 314990 9972021 8333503 4757 1676389 347985 9666664 7954341 15085 862640 498563 8333503 0.57450 0.19340 0.23210 1 0 1052298 1052298 15404379 5093844 10310535 2344151 1357394 986757 1329049 883276 445773 12795363 BENEFICIAL INTEREST IN PERPETUAL TRUST 916488 CONTRIBUTION RECEIVABLE FROM REMAINDER TRUST 457374 DEBT ISSUANCE COSTS 180242 1554104 DUE TO STUDENT ORGANIZATIONS 66930 CAPITAL LEASE PAYMENTS 366161 LINE OF CREDIT 1500000 1933091 13931942 12717585 1214357 -384 -384 1213973 13612417 -384 61585 61201 13551216 64224 316502 380726 13931942 12398444 0 12398444 64224 254917 319141 12717585 PART III, LINE 1A: THE COLLECTION, WHICH CONSISTS OF LIBRARY BOOKS, PERIODICALS AND RELATED MATERIAL, WAS ACQUIRED THROUGH PURCHASES SINCE THE SCHOOL'S INCEPTION AND IS NOT RECOGNIZED AS AN ASSET ON THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE SCHOOL'S ENDOWMENT CONSISTS OF 79 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR IMPOSED RESTRICTIONS. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 61,585. PART XII, LINE 4B - OTHER ADJUSTMENTS: INCOME TAX EXPENSE 11,624. FINANCIAL AID 304,878. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 304,878. RENTAL EXPENSES -61,585. INCOME TAX EXPENSE 11,624. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE SCHOOL DOES NOT ADVERTISE FOR STUDENTS IN THAT LYNDON INSTITUTE IS THE DESIGNATED AREA HIGH SCHOOL. FOR THE RESIDENTIAL STUDENTS, RECRUITERS AND LYNDON EMPLOYEES TRAVEL TO LET FOREIGN STUDENTS KNOW ABOUT THE PROGRAMS THAT THE SCHOOL OFFERS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 LYNDON INSTITUTE, INC. RECEIVES GRANT MONEY FROM THE STATE OF VERMONT AND FEDERAL REIMBURSEMENTS FOR THOSE STUDENTS QUALIFYING FOR FREE OR REDUCED LUNCH. 0 SCHOLARSHIPS FOR TUITION AND FEES. 22 304878 FMV FINANCIAL AID: 13 SCHOLARSHIPS FOR 7-DAY BOARDERS TOTALING $208,380, 6 SCHOLARSHIPS FOR 5-DAY BOARDERS TOTALING $63,776, AND 3 SCHOLARSHIPS FOR DAY STUDENTS TOTALING $32,722 . VERMONT ECONOMIC DEVELOPMENT AUTHORITY 036024497 2006-10-05 5353000 TO FUND CONSTRUCTION OF THE CAMPBELL DORMITORY 0 0 0 5353000 105046 2096016 3151938 2008 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 X 4 86099 FMV ON DATE OF GIFT X 1 13233 VALUED BY USDA X GIFTS IN KIND 6 7367 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS (CORPORATORS) OF THE INSTITUTE SHALL CONSIST OF NOT LESS THAN FIFTY AND NOT MORE THAN ONE HUNDRED FIFTY PLUS NO MORE THAN THREE SCHOOL BOARD MEMBERS FROM EACH SCHOOL BOARD OF EACH DISTRICT WHICH HAS DESIGNATED LYNDON INSTITUTE AS ITS HIGH SCHOOL AND HAS BEEN ACCEPTED BY LYNDON INSTITUTE AS A SENDING DISTRICT. FORM 990, PART VI, SECTION A, LINE 7A THE CORPORATORS OF LYNDON INSTITUTE ELECT THE BOARD OF TRUSTEES FROM ELIGIBLE MEMBER OF THE CORPORATION. THE BOARD OF TRUSTEES SHALL CONSIST OF 27 MEMBERS. THE BOARD OF TRUSTEES WILL BE VOTED ON AN ANNUAL BASIS AT THE ANNUAL MEETING HELD IN SEPTEMBER. THE BOARD OF TRUSTEES SHALL SELECT AND EMPLOY A HEADMASTER WHO WILL BE CHARGED WITH THE DAILY ADMINISTRATION OF EDUCATIONAL LEADERSHIP OF THE SCHOOL. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WILL BE REVIEWED BY THE COMPTROLLER AND THE ASSISTANT HEAD FOR FINANCE PRIOR TO FILING THE RETURN. ONCE FILED, A COPY WILL BE PROVIDED TO THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C LYNDON INSTITUTE MONITORS POTENTIAL CONFLICTS OF INTEREST ON A REGULAR BASIS AS WE PREPARE OUR ANNUAL FINANCIAL STATEMENT AUDIT. AT THIS TIME WE ACCUMULATE A LIST OF ALL RELATED PARTIES AND DETAIL THEIR RELATIONSHIP TO THE SCHOOL. FORM 990, PART VI, SECTION B, LINE 15A THE CONTRACT AND COMPENSATION FOR THE HEADMASTER WAS DISCUSSED IN THE EXECUTIVE SESSION OF THE EXECUTIVE COMMITTEE ON MAY 17, 2010. LATER, AT THE JUN 8TH, 2010 MEETING OF THE EXECUTIVE COMMITTEE, THE COMMITTEE VOTED TO EXTEND THE HEADMASTER'S CONTRACT FOR 3 YEARS, ADJUSTED TO REFLECT HIS CURRENT SALARY. AS PART OF THE DISCUSSIONS, THE SCHOOL DID PREPARE SOME BENCHMARKS FOR THE COMMITTEE TO LOOK AT. THE BENCHMARKS CONSISTED OF THE THREE OTHER INDEPENDENT HIGH SCHOOLS IN THE STATE, ST. JOHNSBURY ACADEMY, BURR & BURTON, AND THETFORD ACADEMY, AS WELL AS WHITE MOUNTAIN SCHOOL IN NEARBY BETHLEHEM, NH. FORM 990, PART VI, SECTION C, LINE 18 LYNDON INSTITUTE MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON EACH INDIVIDUAL REQUEST. FORM 990, PART VI, SECTION C, LINE 19 LYNDON INSTITUTE IS NOT REQUIRED TO MAKE ITS FORM 1023 AVAILABLE TO THE GENERAL PUBLIC AS THEY OBTAINED EXEMPTION PRIOR TO 1973. THE FORM 990 IS MADE AVAILABLE FOR PUBLIC INSPECTION THROUGH USE OF THE GUIDESTAR WEBSITE AND UPON EACH INDIVIDUAL REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -384. PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.