2011-08-23T15:14:20-05:00 2010-06-30 Marks Paneth & Shron LLP 622 Third Avenue New York NY 10017 990 2009-07-01 131740472 The Masters School MAST 9144796431 49 Clinton Avenue Dobbs Ferry NY 10522 LEWIS WYMAN 9144796431 2011-08-23 1 2125038800 2009 2016-02-24 21:20:13Z MAUREEN FONSECA 49 Clinton Avenue Dobbs Ferry NY 10522 26890129 0 X www.mastersny.org X 1877 NY The mission of the Masters School is to provide the challenging academic environment that, for over a century, has encouraged critical, creative and independent habits of thought as well as a lifelong passion for learning. The Masters School promotes and celebrates academic achievement, artistic developments, ethical awareness, technological literacy, athletic endeavor and personal growth. The School strives to maintain a diverse community that encourages students to participate actively in decisions affecting their lives and to develop an appreciation of their responsibilities in the larger world. 24 23 207 307 0 0 2371582 3186698 21440839 22294681 -279852 487399 4717 -19749 23537286 25949029 3917082 3829228 0 11600789 12128116 0 931827 7255158 8034287 22773029 23991631 764257 1957398 63041276 65801080 21920815 21941843 41120461 43859237 The mission of the Masters School is to provide the challenging acedemic environment that, for over a century, has encouraged critical, creative and independent habits of thought as well as a lifelong passion for learning. The Masters School promotes and celebrates academic achievement, artistic developments, ethical awareness, technological literacy, athletic endeavor and personal growth. The School strives to maintain a diverse community that encourages students to participate actively in decisions affecting their lives and to develop an appreciation of their responsibilities in the larger world. 0 0 12004197 22294681 Educational Programs for Grades 5 through 12: The Masters School provides a challenging academic environment that encourages critical, creative, and independent habits of thought and a lifelong passion for learning. The Masters School promotes and celebrates academic achievement, artistic development, ethical action, athletic endeavor, and personal growth. The School maintains a diverse community that encourages students to participate actively in decisions affecting their lives and to develop an appreciation of their responsibilities to the larger world. In July 2000, Maureen Fonseca became the Head of School. Guided by an ambitious strategic plan, The Masters School has experienced measured growth and dramatic successes. The School's largest enrollment, 590 talented and diverse students, was reached in 2010. The campus has expanded to include Morris Hall, a state-of-the-art science and technology center, a separate middle school building, eighteen new faculty apartments, a digital language laboratory, and the academic areas of Masters Hall have been completely refurbished. 12004197 1 1 0 0 0 0 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 1 87 0 207 1 0 0 0 0 0 0 0 0 0 0 0 0 24 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X Lewis Wyman 9144796431 49 Clinton Avenue Dobbs Ferry NY 10522 Edith Chapin 2.00 X X 0 0 0 Spark Cremin 1.00 X 0 0 0 John Dimling 2.00 X X 0 0 0 Marilyn Dimling 1.00 X 0 0 0 Michael Greene 1.00 X 0 0 0 Elise Griffin 1.00 X 0 0 0 Lusyd Kourides 1.00 X 0 0 0 Tracy Limpe 2.00 X X 0 0 0 SYDNEY MACY 1.00 X 0 0 0 Edgar Masters 1.00 X 0 0 0 MINDY MEADS 1.00 X 0 0 0 Jerrie Miller 1.00 X 0 0 0 Susan Morris 1.00 X 0 0 0 Chris Neikirk 1.00 X 0 0 0 Beth Nolan 1.00 X 0 0 0 John Peckham 1.00 X 0 0 0 Penney Riegelman 1.00 X 0 0 0 Ralph Rosenberg 1.00 X 0 0 0 Nancy Seaman 1.00 X 0 0 0 Lynn Sobel 1.00 X 0 0 0 Diana Spencer 1.00 X 0 0 0 Penn Wyrough 2.00 X X 0 0 0 Suzy Welch 1.00 X 0 0 0 Maureen Fonseca 40.00 X 282238 0 59622 Lewis Wyman 40.00 X 181617 0 26799 Sophia Primps 40.00 X 172810 0 30622 Mary Schellhorn 40.00 X 126600 0 13645 Linda Smith-Shearer 40.00 X 122268 0 13088 Chris Frost 40.00 X 120078 0 38460 1005611 0 182236 6 0 1 0 Aramark PO Box 198532 Atlanta GA 30384 Food Services 1173706 Sisca Northeast Inc 1944 Route 22 Brewster Business Par Brewster NY 10509 Construction Manager 132156 Peter Gisolfi & Associates 566 Warburton Avenue hastings NY 10706 Architectural 105989 Panoramic Group Printing & Graphics 1280 Sam Mill River Road Yonkers NY 10710 Printing Services 104220 4 437405 2749293 3186698 Tuition and Fees 611110 21339110 21339110 Other Services 900099 549298 549298 auxiliary Enterprises 900099 406273 406273 22294681 450177 450177 914698 877476 37222 37222 37222 43875 437405 63624 -19749 -19749 25949029 0 0 22762331 3829228 3829228 777520 572456 205064 9075580 6102892 2556982 415706 803475 555301 212912 35262 759974 519557 204458 35959 711567 286127 384812 40628 80796 80796 111672 111672 33174 33174 45166 45166 161081 161081 100100 100100 1314220 1314220 1340978 1340978 210687 210687 FOOD PROGRAMS 900939 900939 UTILITIES 869106 869106 INSTRUCTION 650393 267617 382776 FUND RAISING/ALUMNAE 285856 148170 10547 127139 EQUIPMENT RENTAL AND MA 227536 227536 1702583 295305 1335209 72069 23991631 12004197 11055607 931827 7010810 7967576 939939 617163 99279 118830 79193 62248 265831 294007 51057158 18107521 32887844 32949637 20412294 23193690 1327914 597929 63041276 65801080 1679887 1083825 3019406 3435544 15680000 15305000 598436 2117474 21920815 21941843 X 23118358 24952169 1269345 2091460 16732758 16815608 41120461 43859237 63041276 65801080 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20817090 242628 2139510 0 29361 23169867 26168679 0 -4530530 790000 31059 20817090 0.27000 0.73000 0.00000 1 0 3354306 3354306 40997116 12883877 28113239 6577876 5223644 1354232 127860 127860 32949637 Interest Rate Swap Liability 2006195 Discount on Future Interest of Split-Interest Agreements 75550 Charitable Gift Annuities Payable 35729 2117474 25949029 23991631 1957398 1756000 -31536 -943086 781378 2738776 27673493 1756000 1756000 25917493 31536 31536 25949029 23048545 -943086 -943086 23991631 0 23991631 Part V, Line 4: Description of Intended Use of Endowment Funds: ENDOWMENT FUNDS ARE RESTRICTED TO INVESTMENT IN PERPETUITY WITH INVESTMENT RETURN PRINCIPALLY AVAILABLE FOR GENERAL OPERATIONS. EARNINGS ON ONE PERMANENTLY RESTRICTED DONATION ARE TO BE USED FOR THE SCHOOL'S PLANT MAINTENANCE EXPENSES. THE SCHOOL'S ENDOWMENT CONSISTS OF A NUMBER OF INDIVIDUAL FUNDS, ESTABLISHED FOR A VARIETY OF PURPOSES AND CONSISTING OF BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENT. Part X: Description of Uncertain Tax Positions Under FIN 48: Effective July 1, 2009, the School adopted the provisions of FASB Interpretation No. 48 ("FIN 48"), "Accounting for Uncertainties in Income Taxes - an Interpretation of FASB Statement No. 109," now incorporated in Accounting Standards Codification ("ASC") 740, which provides standards for establishing and classifying any tax provisions for uncertain tax positions. The adoption of FIN 48 did not have an effect on the School's financial position as of July 1, 2009 or the School's results of operations and cash flows for the year ended June 30, 2010. The School is no longer subject to federal or state and local income tax examinations by tax authorities for fiscal years before 2007. 1 1 1 Publicized in the New York Times 1 1 1 1 0 0 0 0 0 0 0 0 1 0 THE ORGANIZATION RECEIVED $144,417 FROM THE STATE OF NEW YORK. 1 Gala 481280 437405 43875 40202 23422 481280 437405 43875 40202 23422 63624 -19749 1 Scholarships 147 3829228 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: The calculation of each student's grant eligibility is documented and stored in the student's admission file. Selection criteria is detailed in a procedures manual and posted publicly on the School's website. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Maureen Fonseca 282238 0 0 0 0 0 28224 0 31398 0 341860 0 141119 0 Lewis Wyman 181617 0 0 0 0 0 18162 0 8637 0 208416 0 90809 0 Sophia Primps 172810 0 0 0 0 0 17281 0 13341 0 203432 0 86405 0 Chris Frost 120078 0 0 0 0 0 12008 0 26452 0 158538 0 60039 0 Dr Maureen Fonseca Mortage - Principal Residence X 75000 7440 0 1 1 7440 X 20 289647 Fair Market Value 0 1 0 Form 990, Part VI, Section B, line 11 Each board member is provided a copy of form 990 for review prior to the filing of the return. Comments and questions are heard at regularly scheduled board meetings. Form 990, Part VI, Section B, line 12c The conflict of interest policy applies to all members of the board of trustees, the head of school, the members of the head's council and management of the masters school. A conflict of interest or potential conflict will be disclosed annually. The board requires annual review of the policy, disclosure of any possible personal, family or business relationship that could give rise to a conflict involving the school and they must acknowledge this by a signature. If a conflict exists, the individual will refrain from participating in any consideration of transactions involving the conflict. In addition, they can not participate in any discussion regarding the matter and can not vote or be present during the vote regarding the matter. The policy and disclosure statement are distributed annually and must be completed and signed. Form 990, Part VI, Section B, line 15 The organization has in place a compensation review committee, which reports to the board of trustees. Comparability data used are peer comparisons, industry guidelines and averages. The compensation must be approved by the committee as well as management officials. Form 990, Part VI, Section C, line 19 These documents are available upon request. PART XI, LINE 2C PROCESS HAS NOT CHANGED FROM PRIOR YEAR.