2011-11-14T08:36:46-06:00 2011-06-30 NATHAN WECHSLER & COMPANY PA 70 COMMERCIAL STREET SUITE 401 CONCORD NH 03301 990 2010-07-01 042589375 SCHOOL YEAR ABROAD INC SCHO 9787256828 439 SOUTH UNION STREET LAWRENCE MA 01843 DOUGLAS RENFIELD-MILLER 9787256828 2011-11-08 1 6032245357 2010 2016-02-24 21:20:13Z DOUGLAS RENFIELD-MILLER 439 SOUTH UNION STREET LAWRENCE MA 01843 16983895 0 X WWW.SYA.ORG X 1965 MA TO PROVIDE EDUCATIONAL OPPORTUNITIES TO HIGH SCHOOL STUDENTS ALLOWING THEM TO LIVE ABROAD. 16 13 66 334 0 0 2180928 1780355 10810300 12425651 189353 136622 6223 6050 13186804 14348678 3220748 3359920 0 0 4927566 6140096 0 0 566836 5092319 5594727 13240633 15094743 -53829 -746065 13420238 14794134 3177419 3879414 10242819 10914720 X TO PROVIDE EDUCATIONAL OPPORTUNITIES TO HIGH SCHOOL STUDENTS ALLOWING THEM TO LIVE IN EITHER CHINA, SPAIN, ITALY, VIETNAM, JAPAN OR FRANCE FOR AN ENTIRE YEAR, SEMESTER OR FOR A SUMMER WHILE EARNING U.S. GRADUATION CREDITS. 1 0 12791155 3359920 12431701 SCHOOL YEAR ABROAD, INC. PROVIDES EDUCATIONAL OPPORTUNITIES TO HIGH SCHOOL STUDENTS BY SENDING THEM OVERSEAS TO STUDY AT ONE OF SIX SCHOOLS IN CHINA, FRANCE, VIETNAM, ITALY, SPAIN AND JAPAN. DURING THE 2010-2011 SCHOOL YEAR, 266 STUDENTS STUDIED AT ONE OF OUR CAMPUSES IN CHINA, FRANCE, ITALY, SPAIN, VIETNAM, AND JAPAN AND 88 ATTENDED SUMMER PROGRAMS IN FRANCE, CHINA AND SPAIN. 12791155 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 X 12 0 66 1 0 1 FR IT CH SP IN JA VM 0 0 0 0 0 0 0 0 X 16 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X X X JONATHAN DOUGLAS DIRECTOR OF FINANCE 9787256828 439 SOUTH UNION STREET LAWRENCE MA 01843 WOODRUFF W HALSEY II 50.00 X X 206651 0 251539 PAUL CHAPMAN 5.00 X 0 0 0 MARGARET CONKLIN 5.00 X 0 0 0 NATALIA A BULGARI 5.00 X 0 0 0 CARLOS ALVAREZ 5.00 X 0 0 0 MARGARITA CURTIS 5.00 X 0 0 0 WILLIAM GRIDLEY 5.00 X X 0 0 0 PETER ESTY 5.00 X X 3846 0 0 DIANE ATWOOD REILLY 5.00 X 0 0 0 DOUGLAS RENFIELD-MILLER 5.00 X X 9713 0 0 STEPHEN FOSTER 5.00 X 0 0 0 BRUCE STEWART 5.00 X 0 0 0 BRYAN GARMAN 5.00 X 0 0 0 TOM HASSAN 5.00 X 0 0 0 JAYE MORENCY 5.00 X 0 0 0 ROBERT J SCHILLER 5.00 X 0 0 0 LANE HEARD 5.00 X 0 0 0 NELSON CHASE 50.00 X 133637 0 32578 STEVEN KIRK 50.00 X 100310 0 28577 LYNN NATHANSON 50.00 X 107669 0 14343 561826 0 327037 3 0 1 0 0 78000 1702355 46253 1780355 TUITION AND FEES 611710 12425651 12425651 12425651 171197 171197 2600487 155 2586433 48784 14054 -48629 -34575 -34575 MISCELLANEOUS INCOME 900099 6050 6050 6050 14348678 12431701 0 136622 3359920 3359920 693446 442075 199365 52006 4171808 3612972 261346 297490 263424 165055 64495 33874 816295 626603 189692 195123 122235 48781 24107 13739 10458 3281 11328 6862 4466 65502 32580 32922 15814 15814 20908 20908 72211 5735 66476 184049 63598 90338 30113 515869 376786 104312 34771 1153265 1055366 97899 63687 63687 168488 115382 53106 115651 14224 101427 HOUSING 1691566 1691566 FOREIGN EXCHANGE ADJUST 348786 348786 ALUMNI DEVELOPMENT 209980 123888 86092 MEALS 198315 194400 3915 EQUIPMENT AND FURNITURE 172613 80931 91682 572956 381026 183547 8383 15094743 12791155 1736752 566836 244696 438318 1661 20806 499590 464574 48081 68027 16760 188652 161396 203548 5845832 1791076 3773653 4054756 4065016 4380184 4609385 4975269 13420238 14794134 562599 1004567 1090512 1041714 1524308 1833133 3177419 3879414 X 8817430 8664087 472975 1198219 952414 1052414 10242819 10914720 13420238 14794134 X -746065 1417966 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8738740 100000 1533260 838934 15814 9517252 9024634 8338 1088408 1361148 21492 8738740 11216365 7818 -1689458 477993 32098 9024634 0.88510 0.11060 0.00430 0 0 3091341 235892 2855449 1804336 766930 1037406 950155 788254 161901 4054756 401999 F COMMONFUND MULTI STRATEGY EQUITY FUND 3385648 F COMMONFUND MULTI STRATEGY BOND FUND 461237 F VANGUARD MONEY MARKET FUND 226190 F VANGUARD COLLATERALIZED MONEY MARKET FUND 500195 F 4975269 14348678 15094743 -746065 1417966 1417966 671901 12390910 1417966 1417966 10972944 15814 3359920 3375734 14348678 11719009 0 11719009 15814 3359920 3375734 15094743 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT IS A FINANCIAL CUSHION WHICH WOULD ALLOW SYA TO WITHSTAND THE SHOCK OF A DRAMATIC DROP IN THE VALUE OF THE U.S. DOLLAR OR DECREASE IN ENROLLMENT RESULTING FROM INTERNATIONAL TERRORISM OR ECONOMIC CRISIS AND A POTENTIAL SOURCE OF DOWN PAYMENTS AND/OR A CONVINCING INDICATOR OF SYA'S FINANCIAL WELL BEING TO POTENTIAL LENDERS, SHOULD THE TRUSTEES DECIDE TO BUY BUILDINGS AT HOME OR ABROAD. THE ENDOWMENT, ALONG WITH OTHER ASSETS, IS CONCRETE EVIDENCE THAT SYA IS A ROBUST AND INDEPENDENT INSTITUTION, NOT A LEGAL SHELL, AND NOT A LEGAL PART OF THE SCHOOLS WHICH SPAWNED IT. THE ENDOWMENT IS A SOURCE OF INCOME TO HELP SUPPORT FINANCIAL AID OR OTHER OPERATING EXPENSES AND A SOURCE OF CONFIDENCE AND INCOME WHICH CAN SUPPORT THE DRIVE TO ADVANCE OUR MISSION IN NEW MARKETS AT HOME AND IN NEW VENUES AND LANGUAGES ABROAD. THE ENDOWMENT CAN OFFER A HOME TO GIFTS RESTRICTED TO SUPPORTING EXCELLENCE IN TEACHING OR OTHER SPECIAL INITIATIVES. INCREASING THE VALUE OF THE ENDOWMENT WILL HELP SYA ADVANCE ITS MISSION. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SCHOOL ADOPTED THE PROVISIONS OF FASB INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (FASB ASC 740), ON JULY 1, 2009. FASB ASC 740 SEEKS TO REDUCE THE DIVERSITY IN PRACTICE ASSOCIATED WITH CERTAIN ASPECTS OF MEASUREMENT AND RECOGNITION IN ACCOUNTING FOR INCOME TAXES. IN ADDITION, FASB ASC 740 PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, AND ACCOUNTING IN INTERIM PERIODS AND REQUIRES EXPANDED DISCLOSURE WITH RESPECT TO THE UNCERTAINTY IN INCOME TAXES. THE SCHOOL'S ACCOUNTING POLICY FOR EVALUATING UNCERTAIN TAX POSITIONS INCLUDES A REVIEW OF ALL MATERIAL TAX POSITIONS FOR ALL TYPES OF TAXES IN ALL JURISDICTIONS AND FOR ALL OPEN YEARS IN ACCORDANCE WITH THE RECOGNITION AND MEASUREMENT REQUIREMENTS OF FASB ASC 740. THE MOST COMMON TAX POSITION FOR THE SCHOOL IS A POSITION TAKEN IN THE ENTITY'S TAX EXEMPT STATUS. HOWEVER, FASB ASC 740 ALSO LOOKS AT OTHER FORMS OF TAX POSITIONS, INCLUDING WHETHER THERE ARE UNRELATED BUSINESS INCOME ACTIVITIES CONDUCTED THAT WOULD BE TAXABLE. ONCE THIS PROCESS IS COMPLETED, THE POSITIONS ARE EVALUATED IN TERMS OF THEIR LIKELIHOOD TO SUCCEED. FOR TAX POSITIONS THAT DO NOT MEET THE DEFINITION OF MORE LIKELY THAN NOT TO SUCCEED, NO TAX BENEFIT IS CONSIDERED. ONLY THOSE TAX POSITIONS THAT HAVE A GREATER-THAN-50% CHANCE OF BEING SUSTAINED ON AUDIT BY A KNOWLEDGEABLE AGENT ARE INCLUDED IN VALUING THE BENEFIT. THIS ANALYSIS IS PERFORMED USING ALL RELEVANT AUTHORITIES. THE SCHOOL FILES THE FORM 990. WITH FEW EXCEPTIONS THE SCHOOL IS NO LONGER SUBJECT TO U.S. FEDERAL TAX EXAMINATIONS BY TAX AUTHORITIES FOR FISCAL YEARS ENDING BEFORE JUNE 30, 2008. MANAGEMENT OF THE SCHOOL BELIEVES IT HAS NO MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY IT WILL NOT RECOGNIZE ANY LIABILITIES FOR UNRECOGNIZED TAX BENEFITS. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID PART XII AND PART XIII LINE 4B: SCHOLARSHIP GRANTS ARE AWARDED TO STUDENTS AS A DISCOUNT ON THEIR TUITION. ALL SUCH GRANTS ARE AWARDED UPON COMPLETION OF THE SSS APPLICATION AND SUBMISSION OF INCOME TAX DOCUMENTS. NO CASH IS GIVEN DIRECTLY TO AN INDIVIDUAL. 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 POLICY IS INCLUDED IN THE INSTRUCTIONS GIVEN TO COORDINATORS AT MEMBER SCHOOLS. FRANCE 1 17 PROGRAM OPERATION OF SCHOOL AND RELATED ACTIVITIES 1948777 SPAIN 1 13 PROGRAM OPERATION OF SCHOOL AND RELATED ACTIVITIES 1869264 CHINA 1 21 PROGRAM OPERATION OF SCHOOL AND RELATED ACTIVITIES 1339851 ITALY 1 14 PROGRAM OPERATION OF SCHOOL AND RELATED ACTIVITIES 1395885 VIETNAM 1 8 PROGRAM OPERATION OF SCHOOL AND RELATED ACTIVITIES 539579 INDIA 1 1 PROGRAM PROGRAM SUSPENSION COSTS 18487 JAPAN 1 8 PROGRAM OPERATION OF SCHOOL AND RELATED ACTIVITIES 861926 82 0 82 7973769 0 7973769 0 0 0 0 0 0 1 FINANCIAL ASSISTANCE 133 3359920 FMV SCHOLARSHIP GRANTS AWARDED TO STUDENTS AS A DISCOUNT ON THEIR TUITION OTHER INFORMATION: PART IV: SCHOLARSHIP GRANTS ARE AWARDED TO STUDENTS AS A DISCOUNT ON THEIR TUITION. ALL SUCH GRANTS ARE AWARDED UPON COMPLETION OF THE SSS APPLICATION AND SUBMISSION OF INCOME TAX DOCUMENTS. NO CASH IS GIVEN DIRECTLY TO AN INDIVIDUAL. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 WOODRUFF W HALSEY II 184651 0 0 0 22000 0 208634 0 42905 0 458190 0 0 0 NELSON CHASE 111637 0 0 0 22000 0 0 0 32578 0 166215 0 0 0 PART I, LINE 1A TRAVEL EXPENSES FOR BONA FIDE BUSINESS PURPOSES ON BEHALF OF A FAMILY MEMBER OF WOODRUFF W. HALSEY, II AND NELSON CHASE CAN BE PAID BY THE SCHOOL. WOODRUFF HALSEY PERSONAL HOME MORTGAGE PAYMENT ASSISTANCE X 50000 13599 0 1 1 JACK CREEDEN PERSONAL HOME MORTGAGE PAYMENT ASSISTANCE X 175000 175053 0 1 1 188652 X 7 46253 MARKET VALUE 0 1 1 THIRD PARTY USE: PART I, LINE 32B: STOCK GIFTS RECEIVED ARE PROCESSED AND SOLD BY THE SCHOOL'S CUSTODIAL FINANCIAL INSTITUTION. NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 IN THE 2011 FISCAL YEAR, THE SCHOOL OFFERED A STUDY ABROAD PROGRAM IN JAPAN. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS REVIEWED BY THE AUDIT COMMITTEE IN DETAIL PRIOR TO FILING. ANY QUESTIONS WERE ADDRESSED TO THE PREPARER AND RESOLVED TIMELY. A FINAL DRAFT VERSION OF THE RETURN WAS PROVIDED TO THE FULL BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD MEMBERS ANNUALLY SIGN A STATEMENT, WHICH DETAILS ANY CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES IS RESPONSIBLE FOR ADMINISTERING THE COMPENSATION OF THE PRESIDENT. THE COMMITTEE MEETS PERIODICALLY THROUGHOUT THE YEAR TO: 1) REVIEW THE GOALS OF THE PRESIDENT; 2) DETERMINE WHAT, IF ANY, OUTSIDE RESOURCES ARE REQUIRED TO HELP SET APPROPRIATE COMPENSATION IN THAT YEAR; 3) HIRE ANY NECESSARY CONSULTANTS; 4) REVIEW AND SET COMPENSATION BY A REVIEW OF COMPARABLE OUTSIDE DATA IN LIGHT OF THE FINANCIAL RESOURCES AND GOALS AND OBJECTIVES OF SCHOOL YEAR ABROAD; AND, 5) AMEND, IF NECESSARY, THE EMPLOYMENT CONTRACT OF THE PRESIDENT WHILE SETTING ANNUAL COMPENSATION. THE COMPENSATION COMMITTEE REPORTS ON ITS MEETINGS TO THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, THE CONFLICTS OF INTERESTS POLICY, AUDITED FINANCIAL STATEMENTS, AND TAX RETURNS ARE AVAILABLE UPON REQUEST AT THE CORPORATE OFFICE. TAX RETURNS ARE ALSO POSTED ON GUIDESTAR. FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON THE SCHOOL YEAR ABROAD WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 1,417,966.