2011-10-03T07:04:19-05:00 2011-06-30 CHERRY BEKAERT & HOLLAND LLP 1111 METROPOLITAN AVENUE SUITE 1000 CHARLOTTE NC 28204 990 2010-07-01 560623935 CHARLOTTE COUNTRY DAY SCHOOL CHAR 7049434551 1440 CARMEL ROAD CHARLOTTE NC 282265096 DAVID L MANCOS 7049434551 2011-09-29 1 JANICE A RATICA 7043771678 2010 2016-03-07 17:11:31Z MARK REED 1440 CARMEL ROAD CHARLOTTE NC 28226 39885594 0 X WWW.CHARLOTTECOUNTRYDAY.ORG X 1941 NC CHARLOTTE COUNTRY DAY SCHOOL PROVIDES COMPREHENSIVE EDUCATIONAL PROGRAMS FOR GRADES PRE-KINDERGARTEN THROUGH GRADE 12 ON A NON-DISCRIMINATORY BASIS. 27 27 564 300 0 0 2746767 3837236 32806988 33569336 606582 1651107 436316 406380 36596653 39464059 3577537 3568668 0 0 22727860 22838264 0 0 1313502 10105276 10688698 36410673 37095630 185980 2368429 112246755 115643071 35145882 33584473 77100873 82058598 X THROUGH EXCELLENCE IN EDUCATION, THE SCHOOL DEVELOPS THE POTENTIAL OF EACH STUDENT BY FOSTERING INTELLECTUAL CURIOUSITY, PRINCIPLED CHARACTER, ETHICAL LEADERSHIP AND A RESPONSIBILITY TO SERVE. THE KEY VALUES AND COMMITMENTS ARE EDUCATIONAL EXCELLENCE, CHARACTER, COMMUNITY, AND SERVICE. 0 0 27184819 3568668 33781147 FUNDS WERE USED TO PROVIDE COMPREHENSIVE EDUCATIONAL PROGRAMS TO APPROXIMATELY 1,600 STUDENTS IN GRADES PRE-KINDERGARTEN THROUGH GRADE 12. 27184819 1 1 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 44 0 564 1 0 1 CJ VI 0 0 0 0 0 0 0 0 X 27 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X DAVID MANCOS 7049434551 1440 CARMEL ROAD CHARLOTTE NC 282265096 A WELLFORD TABOR 4.00 X 0 0 0 ROBERT T DOOLEY III 4.00 X X 0 0 0 VICKY C MITCHENER 4.00 X 0 0 0 J CARLTON SHOWALTER JR 4.00 X X 0 0 0 L WATTS HAMRICK III 4.00 X X 0 0 0 CHERYL D COURTLANDT MD 4.00 X X 0 0 0 GREGORY H GACH 4.00 X 0 0 0 TODD GORELICK 4.00 X X 0 0 0 STEPHANIE S LYNCH 4.00 X 0 0 0 SHANNON W MCFAYDEN 4.00 X 0 0 0 ANDREW D PLEPLER 4.00 X 0 0 0 ARTHUR C ROSELLE 4.00 X X 0 0 0 SALLY SAUSSY 4.00 X 0 0 0 J TRAVIS HAIN 4.00 X 0 0 0 GARY R WOLFE 4.00 X 0 0 0 WILLIAM WADE WOOD 4.00 X 0 0 0 HOWARD C BISSELL 4.00 X 0 0 0 ROBERT H STOLZ 4.00 X 0 0 0 ROY H PARK III 4.00 X 0 0 0 DR JAMES W ROBERTS 4.00 X 0 0 0 LOUIS A BLEDSOE III 4.00 X 0 0 0 D ANN CAULKINS 4.00 X 0 0 0 PATRICK L DIAMOND 4.00 X 0 0 0 AMY F OWEN 4.00 X 0 0 0 SCOTT B PERPER 4.00 X X 0 0 0 WALKER L POOLE 4.00 X 0 0 0 RONALD A VEITH 4.00 X 0 0 0 DAVID MANCOS 70.00 X 222745 0 21098 MARK REED 70.00 X 327800 0 27090 AMOS BRANSON 50.00 X 116367 0 15692 RON VARNER 50.00 X 125111 0 14862 PATRICK J PHILLIPS 50.00 X 116875 0 11641 KEVIN DALY 50.00 X 160435 0 14074 MARGARET P OTEY 50.00 X 116500 0 13953 1185833 0 118410 11 0 1 0 ALADDIN FOOD MANAGEMENT SERVICES 16567 COLLECTIONS CENTER DRIVE CHICAGO IL 606931656 FOOD SERVICES 993412 ARAMARK CORPORATION 24858 NETWORK PLACE CHICAGO IL 606731248 CUSTODIAL SERVICES 895354 KNIGHT TRAVEL PO BOX 470067 CHARLOTTE NC 282470067 TRANSPORTATION 177890 GOV CONNECTION INC PO BOX 382810 PITTSBURGH PA 152508810 TECHNOLOGICAL SERVICES 169873 SHOWALTER CONSTRUCTION CO INC 620 WEST 24TH STREET CHARLOTTE NC 282062517 CONSTRUCTION 118237 5 3837236 7377 3837236 TUITION 611710 30714153 30714153 PROGRAM FEES 611710 1492185 1492185 FOOD SERVICES 611710 995049 995049 TRANSPORTATION 480000 367949 367949 33569336 843277 843277 16831 16831 16831 16831 630268 4599 -179152 6189 809420 -1590 807830 807830 569381 366569 202812 202812 202855 227929 -25074 -25074 OTHER INCOME 900099 94968 94968 FORFEITED DEPOSITS 611710 46025 46025 APPLICATION FEES 611710 37050 37050 33768 33768 211811 39464059 33781147 0 1845676 3568668 3568668 18429410 14095584 3848678 485148 910690 685827 198797 26066 2152464 1669767 421452 61245 1345700 1041752 265732 38216 48284 48284 46890 46890 1368773 86361 1270992 11420 2098 1932 166 848940 73906 756450 18584 337853 15791 203461 118601 881164 837106 44058 66695 33516 33179 65093 5730 59363 339745 322758 16987 2083991 1979791 104200 222953 11408 211545 BOOKS & EDUCATIONAL PRO 1601966 1214900 219416 167650 FOOD SERVICE & HOSPITAL 950999 950999 GROUNDS EXPENSE & MAINT 751914 87535 664379 ATHLETIC EXPENSE & BOOS 434972 345164 89808 SECURITY 95829 91038 4791 540539 71016 232122 237401 37095630 27184819 8597309 1313502 8257763 8848151 18515113 12535821 9166457 6837307 356571 276183 139599 134559 273196 257826 69173389 25610214 45231031 43563175 30188188 42960185 118837 229864 112246755 115643071 3122250 3153825 7123086 6742581 24155000 23050000 745546 638067 35145882 33584473 X 44999763 45350539 16516536 19896622 15584574 16811437 77100873 82058598 112246755 115643071 X 2368429 2589296 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18682319 1642735 3794244 600000 23519298 15768568 1436569 1812182 335000 18682319 18549125 1602745 -3718757 664545 15768568 0.35000 0.65000 0 0 2767619 2767619 49525098 19355668 30169430 9597957 3751114 5846843 7282715 2503432 4779283 43563175 MUTUAL FUNDS 12728717 F COMMON STOCKS 1551106 F BONDS & FIXED INCOME FUNDS 20536888 F PRIVATE INVESTMENT FUNDS 6562228 F INDEX FUNDS 1581246 F 42960185 UNREALIZED LOSS ON SWAP AGREEMENT 638067 638067 39464059 37095630 2368429 2482636 106660 2589296 4957725 40933703 2482636 -1562190 920446 40013257 46890 -596088 -549198 39464059 35975978 596088 596088 35379890 46890 1668850 1715740 37095630 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS, GENERAL OPERATING EXPENSES AND PROPERTY AND EQUIPMENT IMPROVEMENTS AND UPKEEP. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SCHOOL FOLLOWS THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES WHICH PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAXEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE SCHOOL'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE SCHOOL, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION TAKEN BY MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF JUNE 30, 2011 AND 2010, AND ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED LOSS ON SWAP AGREEMENT -819. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 107,479. PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIPS SHOWN NET OF TUITION ON FINANCIALS -1,668,850. UNREALIZED LOSS ON SWAP AGREEMENT 107,479. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -819. PART XII, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -227,929. SPECIAL EVENT EXPENSES -366,569. LOSS ON EQUIPMENT DISPOSAL -1,590. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 227,929. SPECIAL EVENT EXPENSES 366,569. LOSS ON EQUIPMENT DISPOSAL 1,590. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIPS SHOWN NET OF TUITION ON FINANCIALS 1,668,850. 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 THE SCHOOL'S RACIALLY NON-DISCRIMINATORY POLICY TOWARDS STUDENTS IS PUBLISHED THROUGH A PRINTED STATEMENT OF THE SCHOOL'S ADMINISTRATION POLICY IN A LOCAL NEWSPAPER AND MAGAZINES. BIG SATURDAY 110675 110675 64011 CAR RAFFLE 78555 78555 13792 3 380151 380151 288766 569381 569381 366569 366569 202812 1 FINANCIAL AID 222 3366305 SCHOLARSHIPS 33 202363 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE AMOUNT OF THE FINANCIAL AID OR SCHOLARSHIP IS ONLY APPLIED TO A STUDENTS' BILLING ACCOUNT. THE FINANCIAL AID COMMITTEE REVIEWS ALL REQUESTS FOR FINANCIAL AID. ADDITIONALLY, EACH DONOR (OF A NAMED SCHOLARSHIP ENDOWMENT) RECEIVES A LETTER FROM DEVELOPMENT SAYING WHO RECEIVED THE SCHOLARSHIP. X X X 1 1 X X X X X X 0 1 0 0 0 0 0 0 0 DAVID MANCOS 222745 0 0 0 0 0 14108 0 6990 0 243843 0 0 0 MARK REED 327800 0 0 0 0 0 20100 0 6990 0 354890 0 0 0 KEVIN DALY 160435 0 0 0 0 0 7109 0 6965 0 174509 0 0 0 PART I, LINE 4B THE SCHOOL CONTRIBUTED $10,300 TO A 457(B) PLAN FOR THE HEAD OF SCHOOL, MARK REED, FOR HIS SERVICES TO THE SCHOOL. NC CAPITAL FACILITIES FINANCE 65818PGN3 2008-06-01 12690000 SCHOOL CONSTRUCTION 0 0 0 12690000 159515 12530485 2009 0 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 0 0 0 0 SHOWALTER CONSTRUCTION CO INC CARL SHOWALTER IS A MEMBER OF THE BOARD OF TRUSTEES & OWNER OF THE COMPANY 118237 CONSTRUCTION COSTS WERE NEGIOTIATED IN THE NORMAL COURSE OF BUSINESS AND AT ARM'S LENGTH. 0 FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE REVIEWS THE IRS FORM 990 WITH THE CHIEF FINANCIAL OFFICER BEFORE THE FORM IS FILED. A COPY OF THE 990 IS PROVIDED TO EACH BOARD MEMBER AT A REGULARLY SCHEDULED BOARD MEETING PRIOR TO FILING. MEMBERS ARE ENCOURAGED TO REVIEW THE FORM AND SUBMIT QUESTIONS TO THE CHAIR OF THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD MAINTAINS A CONFLICT OF INTEREST POLICY WHICH IS REVIEWED AND SIGNED ON AN ANNUAL BASIS. ALL TRUSTEES AND OTHER INTERESTED PERSONS ARE REQUIRED TO READ, COMPLETE AND SIGN THE CONFLICT OF INTEREST FORM ANNUALLY. IF AN ISSUE IS TO BE DECIDED BY THE BOARD THAT INVOLVES POTENTIAL CONFLICT OF INTEREST FOR A BOARD MEMBER OR OTHER INTERESTED PERSONS, IT IS THE RESPONSIBILITY OF THE BOARD MEMBER OR OTHER INTERESTED PERSONS TO: (1) IDENTIFY THE POTENTIAL CONFLICT OF INTEREST SO THAT BOARD MEMBERS WHO ARE VOTING ON A DECISION ARE AWARE THAT ANOTHER MEMBERS' INTEREST ARE NOT BEING AFFECTED; (2) NOT PARTICIPATE IN THE DISCUSSION OF THE PROGRAM, ISSUE OR MOTION BEING CONSIDERED; AND (3) NOT VOTE ON THE MOTION. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL HAS A HEAD COMPENSATION COMMITTEE. THE COMMITTEE ANNUALLY REVIEWS BENCHMARK COMPENSATION DATA FROM SEVERAL SOURCES SUCH AS NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL (NAIS) AND JOINT RESEARCH PROJECT ORGANIZATION (JRPO). THE COMMITTEE ANALYZES DATA FROM THESE AND OTHER ORGANIZATIONS IN ORDER TO MAKE A RECOMMENDATION TO THE BOARD OF TRUSTEES REGARDING THE HEAD COMPENSATION. THE BOARD HAS APPROVAL AUTHORITY FOR THE HEAD COMPENSATION AND APPROVES THE PACKAGE ANNUALLY. ALL DISCUSSIONS AND DECISIONS ARE DOCUMENTED IN THE MINUTES. THE HEAD OF SCHOOL DETERMINES AND ESTABLISHES SALARIES FOR ALL OTHER TOP MANAGEMENT AND KEY EMPLOYEES. HE USES DATA FROM THESE SAME ORGANIZATIONS (NAIS & JRPO) TO ASSIST IN ESTABLISHING TOP MANAGEMENT AND KEY EMPLOYEE SALARIES. ALL SALARY INCREASES MUST BE WITHIN THE BUDGET AS APPROVED BY THE BOARD OF TRUSTEES, AND THE BOARD MONITORS THE BUDGET TO INSURE COMPLIANCE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 2,482,636. UNREALIZED LOSS ON SWAP AGREEMENT -819. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 107,479. TOTAL TO FORM 990, PART XI, LINE 5: 2,589,296. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE IS APPOINTED BY THE BOARD OF TRUSTEES TO ASSIST THE BOARD IN FULFILLING ITS FISCAL OVERSIGHT RESPONSIBILITIES. THE PRIMARY DUTIES OF THE COMMITTEE ARE: TO MONITOR THE INTEGRITY OF CHARLOTTE COUNTRY DAY SCHOOL'S FINANCIAL REPORTING PROCESS AND SYSTEMS OF INTERNAL CONTROLS REGARDING FINANCE, ACCOUNTING AND LEGAL COMPLIANCE, TO MONITOR THE PERFORMANCE OF CHARLOTTE COUNTRY DAY SCHOOL'S INDEPENDENT AUDITORS, AND TO PROVIDE AN AVENUE OF COMMUNICATION AMONG THE INDEPENDENT AUDITORS, MANAGEMENT AND THE BOARD OF TRUSTEES. PASSIVE FOREIGN INVESTMENTS: CHARLOTTE COUNTRY DAY SCHOOL IS AN INVESTOR IN ONE OR MORE "PASSIVE FOREIGN INVESTMENT COMPANIES" ("PFICS"). THE SCHOOL IS AN INVESTOR IN GREENLIGHT CAPITAL OFFSHORE FUND, LTD IN THE BRITISH VIRGIN ISLANDS, LANX OFFSHORE PARTNERS (QP) LTD IN THE CAYMAN ISLANDS AND THE UBP SELECTINVEST ARV II, LTD IN THE CAYMAN ISLANDS. THEY RECEIVED NO TAXABLE DISTRIBUTIONS FROM ANY OF THE ABOVE FUNDS DURING FISCAL YEAR 2011. FORM 8621 IS NOT BEING FILED PURSUANT TO IRS GUIDANCE SET FORTH IN REG SEC 1.1291-1(E).