2011-02-15T07:44:08-06:00 2010-06-30 Sullivan Powers & Company 77 Barre St PO Box 947 Montpelier VT 05601 990 2009-07-01 030182055 Lyndon Institute LYND 8026266122 PO Box 127 Lyndon Center VT 05850 KRISTEN LEPINE 8026261354 2011-02-10 1 8022232352 2009 2016-02-24 21:20:13Z RICK HILTON PO Box 127 Lyndon Center VT 05850 14309234 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 27 228 48 0 0 1216885 853816 10157820 10817589 323870 146987 82771 58064 11781346 11876456 21550 16100 0 103500 130097 0 287461 11576512 12090676 11701562 12236873 79784 -360417 20183487 22619998 12450275 14464504 7733212 8155494 Lyndon Institute is an academic community providing students with excellent preparation for success in school, college, careers, and life. 0 0 10410008 16100 10765821 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 Wheelock and Sheffield) have contracts with Lyndon Institute to accept their students automatically with no admissions needed. There are also various non-sending schools, who offer school choice and foreign overseas students who are a direct result of recruiting efforts through fairs, etc. The non-sending schools and the foreign overseas students are all part of the residential program and are provided dormitory living spaces. 10410008 1 1 0 0 0 0 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 24 0 1 228 1 0 0 0 0 0 0 0 0 0 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 Richard D Ashton 4.00 X X 0 0 0 Jeanne A Elliott 4.00 X X 0 0 0 Norman R Messier 4.00 X X 0 0 0 Randall Northrop 4.00 X X 0 0 0 Stephen A Gray 4.00 X 0 0 0 Donald R Simpson 4.00 X 0 0 0 Edmund A Buschmann 4.00 X 0 0 0 Marlin W Devenger 4.00 X 0 0 0 Robert G Heath 4.00 X 0 0 0 Richard H Lawrence 4.00 X 0 0 0 David R Stahler Sr 4.00 X 0 0 0 Douglas E Wheeler 4.00 X 0 0 0 Judge Lois F White 4.00 X 0 0 0 Tiffany L Young 4.00 X 0 0 0 David B Aronoff 4.00 X 0 0 0 Meredith R Feltus 4.00 X 0 0 0 James A Gallagher 4.00 X 0 0 0 James C Gallagher 4.00 X 0 0 0 Peter C Hopkins 4.00 X 0 0 0 Emery J Noyes 4.00 X 0 0 0 Elaine A Smith 4.00 X 0 0 0 Mark E Wheeler 4.00 X 0 0 0 Earl F Daniels III 4.00 X 0 0 0 Joseph C Flynn 4.00 X 0 0 0 Elizabeth P Koenig 4.00 X 0 0 0 James A McDonald 4.00 X 0 0 0 Sara J Simpson 4.00 X 0 0 0 Richard Hilton 40.00 X 110634 0 20596 110634 0 20596 1 0 0 0 HP Cummings PO Box 269 Woodsville NH 03785 Construction 637978 Brock and Company Inc 257 Great Valley Parkway Malvern PA 19355 Food Service Vendor 573158 Ruggco Inc PO Box 127 Barnet VT 05821 Construction 214637 Drummey Rosane Anderson Inc 141 Herrick Road Newton Centre MA 02459 Architects 103884 4 538327 315489 151723 853816 Tuition/Fees 611110 7534172 7534172 Residential Program In 611110 2897545 2897545 State Programs 611110 156861 156861 Food Sales 721310 156528 156528 Transportation 480000 56278 56278 16205 16205 10817589 275787 275787 18800 37768 -18968 -18968 -18968 2252960 13250 2368348 26662 -115388 -13412 -128800 -128800 Circus Smirkus summer 611110 34136 34136 Other Revenue 611110 28624 28624 Bookstore revenue 611110 6992 6992 7280 7280 77032 11876456 10765821 0 256819 16100 16100 130097 130097 1399459 1399459 453126 453126 586468 586468 Regular Programs 4026363 4026363 Administration 1409307 1409307 Residential 1357624 1357624 Fixed Costs 1320352 1320352 Fundraising 287461 287461 1250516 1250516 12236873 10410008 1539404 287461 1240 2897 276957 380781 72694 141974 52711 58823 15582 10864 24485 47707 20412669 6970599 11645539 13442070 6859614 7239207 162024 1072641 1295675 20183487 22619998 1109377 954507 2125854 2132522 5029647 9123421 5690317 91623 657511 12450275 14464504 X 3661522 4531578 1546360 1828142 2525330 1795774 7733212 8155494 20183487 22619998 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 7954341 15085 862640 498563 8333503 0.60000 0.22000 0.18000 1 0 14969107 4692977 10276130 5443562 2277622 3165940 13442070 SALARY ADVANCE 6181 DEBT ISSUE COSTS 180210 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 808712 CONTRIBUTION RECEIVABLE FROM REMAINDER TRUST 300572 1295675 DUE TO STUDENT ORGANIZATIONS 110164 CAPITAL LEASE PAYABLE 547347 657511 11876456 12236873 -360417 782699 782699 422282 12710335 782699 51180 833879 11876456 0 11876456 12288053 51180 51180 12236873 0 12236873 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. Part V, Line 4: Description of Intended Use of Endowment Funds: 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 INCOME: 37768. LOSS ON SALE OF ASSETS: 13412. Part XIII, Line 2d - Other Adjustments: RENTAL EXPENSES: 37768. LOSS ON SALE OF ASSETS: 13412. 1 1 1 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 foriegn students know about the programs that the Institute offers. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 LYNDON RECEIVES STATE MONEY TO PROVIDE PROGRAMS SUCH AS ADULT EDUCATION. THEY ALSO RECEIVED FEDERAL PERKINS PROGRAM ASSISTANCE TO AID IN THE GENERAL COSTS OF TUITION. 1 1 Various scholarships and awards granted to graduating students who are pursuing college. 58 16100 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: A committee of 5 individuals (Director of Studies, Dean of Faculty, Assistant Head for Campus Life, Dean of Students and Director of College Career Center) meet to assign students the awards for Honor Assembly. They use a list of students by GPA as well as lists of students and where they intend to attend college. The committee is given a list of awards available by the Administrative Assistant to the Headmaster. The group researches certain awards to assure the student is eligible for the award per the grantor. The group then works with the Business Office and uses the Davenport spreadsheet for month end 12/31/XX to assign the amount available for the award. VERMONT ECONOMIC DEVELOPMENT AUTHORITY 036024497 2006-10-05 5353000 TO FUND THE CONSTRUCTION OF THE CAMPBELL DORMITORY 0 0 5353000 105046 2096016 3151938 2008 1 0 1 1 PETE HOPKINS BROTHER OWNS OIL COMPANY 256838 PURCHASE OF HEATING OIL THROUGH HOPKINS OIL/BOURNE'S 0 0 X 2 3756 Sale of comparable prop X 3 102170 FMV on date of gift X 1 11688 Valued by the USDA X Gift Certificates to various businesses 12 954 Valued by donor X Decals 1 561 Cost to purchase decals X Sofa for Dorm 1 936 Vendor cost of new sofa X Spray paints and racks 1 2232 Vendor cost 0 0 0 Form 990, Part VI, Section A, line 6 The members (corporators) of the Institute shall consist of not less than fifty (50) and not more than one hundred fifty (150) 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 twenty-seven (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 and 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 We montior 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 the relationship to the School. Form 990, Part VI, Section B, line 15a The contract and compensation for the Headmaster were discussed in executive session of the Executive Committee on May 17, 2010. Later, at the June 8, 2010 meeting of the Executive Committee, the committee voted to extend the headmaster's contract for three years, adjusted to reflect his current salary. As part of discussions, we did prepare some benchmarks for the committee to look at. We used the four independent high schools in Vermont, Lyndon Institute, St. Johnsbury Academy, Burr & Burton, and Thetford Academy, along with White Mountain School in nearby Bethlehem, NH. No other officers were compensated and there School does not have any key employees. Form 990, Part VI, Section C, line 18 Lyndon Institute is not required to make it Form 1024 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. Form 990, Part VI, Section C, line 19 Lyndon Institute makes its governing documents and financial statements available to the public upon each individual request. Part XI; Line 2C The Assistant Head for Finance determines if a change in the independent accounting firm is necessary or the contract term is up. After this determination is made the Business Office will send out an RFP, request for proposal, to firms determined by the Assistant Head for Finance. The Business Office will collect and review the proposals and present them to the Finance Committee of the Board of Trustees. The Finance Committee considers the recommendations of the Business Office and then makes their recommendation to the Executive Committee of the Board of Trustees, who then votes to approve the recommendation. For the review of the audited financial statements, the Comptroller and Assistant Head for Finance revieww the draft financial statements and then they present to the Finance Committee for their review and final approval.