2011-05-11T14:48:58-05:00 2010-06-30 O'CONNOR DAVIES MUNNS & DOBBINS LLP ONE STAMFORD LANDING STAMFORD CT 06902 990 2009-07-01 060646562 BRUNSWICK SCHOOL INC BRUN 2036255815 100 MAHER AVENUE GREENWICH CT 068305618 Steven H Dudley 2036255815 2011-05-11 1 Garrett Higgins 2033232400 2009 2016-02-24 21:20:13Z steven h dudley 100 MAHER AVENUE GREENWICH CT 068305618 73119270 0 X WWW.BRUNSWICKSCHOOL.ORG X 1932 CT BRUNSWICK IS AN INDEPENDENT COLLEGE-PREPARATORY DAY SCHOOL FOR BOYS IN GRADES PRE-K THROUGH 12. 29 29 410 200 -15565 -22073 11608024 9686449 27788182 29183470 -4713908 3677599 521336 799431 35203634 43346949 3871163 4223932 0 0 19188838 18967086 0 0 2452892 13221550 14888393 36281551 38079411 -1077917 5267538 238054111 225064088 82247223 62080828 155806888 162983260 See Schedule O 0 0 25643846 4223932 28440624 EDUCATION FOR STUDENTS IN CLASSES FROM PRE-KINDERGARTEN THROUGH 12TH GRADE 4727326 373636 ATHLETIC AND SUMMER PROGRAMS 1730568 369210 STUDENT SERVICES 32101740 1 1 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 0 0 0 0 1 70 0 1 410 1 1 1 0 0 0 0 1 1 0 0 0 29 29 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X X Steven h Dudley 2036255815 99 Maher Avenue Greenwich CT 06830 Mr William A Durkin III 6.00 X X 0 0 0 Mrs W Robert Dahl 6.00 X X 0 0 0 Mr B Cort Delany 4.00 X X 0 0 0 Mr Richard A Baker 4.00 X 0 0 0 Mr W Preston Baldwin III 2.00 X 0 0 0 Mrs James Better 2.00 X 0 0 0 Mr Michael P Castine 2.00 X 0 0 0 Mr Matthew DeSalvo 2.00 X 0 0 0 Mrs William Farrell 4.00 X 0 0 0 Mr Richard M Fuscone 2.00 X 0 0 0 Mr John R Harvey 2.00 X 0 0 0 Mr Jeffrey R Holzschuh 2.00 X 0 0 0 Mr Andrew Jacobson 2.00 X 0 0 0 Mr David B MacFarlane 4.00 X 0 0 0 Mrs Gary S Matthews 4.00 X 0 0 0 Mr Ian McKinnon 2.00 X 0 0 0 Mr Sanjeev K Mehra 4.00 X 0 0 0 Mr Ian C Murray 2.00 X 0 0 0 Mr Shepherd Murray 2.00 X 0 0 0 Mr Michael J Odrich 2.00 X 0 0 0 Mr Thos D O'Malley Jr 4.00 X 0 0 0 Mr Charles Paternina 2.00 X 0 0 0 Mrs Andrew P Peisch 2.00 X 0 0 0 Mr Clifton S Robbins 6.00 X 0 0 0 Mr William A Schneider 2.00 X 0 0 0 Mrs Mark Stitzer 2.00 X 0 0 0 Mr J Edward Virtue 2.00 X 0 0 0 Mr Simon J Williams 4.00 X 0 0 0 Mr Tracy R Wolstencroft 4.00 X 0 0 0 Mr THOMAS W PHILIP 40.00 X 385311 0 270656 Mr Steven H Dudley 40.00 X 316295 0 93194 Mr Thomas Murray 40.00 X 178769 0 20271 MR SUNIL GUPTA 40.00 X 149674 0 13421 MR DOUGLAS BURDETT 40.00 X 145369 0 87540 MR ANDREW HALL 40.00 X 139100 0 65269 MR TIMOTHY F OSTRYE 40.00 X 131259 0 30791 Mr Stephen Duennebier 40.00 X 129435 0 43178 1575212 0 624320 27 0 1 0 Chartwells Dining Services 91337 Collections Drive Chicago IL 60693 Dining Services 1281617 Dunning Enterprises Inc 11 BUCKLEY AVENUE Port Chester NY 10573 CLEANING SERVICE 401100 Charlie Horton Jr Landscaping Inc PO Box 271 Port Chester NY 10573 LANDSCAPING 244810 Richards Conditioning Corp 70 MARBLEDALE ROAD TUCKAHOE NY 10707 EQUIPMENT MAINTENANCE 174824 New England Water Utility Services Inc 93 West Main Street Clinton NJ 06413 Water Utility Services 158629 5 710884 8975565 610213 9686449 Student Tuition 900099 28008450 28008450 SUMMER PROGRAM 611710 373636 373636 SCHOOL PROGRAMS and fe 611710 369210 369210 SHARED SERVICE REIMBUR 611710 225000 225000 AFTER SCHOOL PROGRAMS 611710 183324 183324 23850 23850 29183470 1191752 -15565 1207317 570690 406089 164601 164601 164601 30826134 28340287 2485847 2485847 2485847 765811 710884 507138 258673 258673 84600 31645 52955 52955 743988 487162 256826 256826 Insurance Dividends 900099 34470 34470 Insurance settlement 900099 24705 24705 Other revenue 900099 7201 7201 66376 43346949 29183470 -15565 4492595 4223932 4223932 1299167 65119 1014554 219494 13186148 11606957 1118719 460472 1346609 1105857 189264 51488 2066688 1835779 168475 62434 1068474 894326 126671 47477 69369 69369 72365 72365 29525 29525 107098 106640 402 56 136276 4223 132053 661717 321862 284114 55741 203813 166530 37283 927393 826802 99877 714 209885 208421 1284 180 71189 61707 5746 3736 2987239 2987239 4339496 4254652 47296 37548 94784 94123 580 81 Building Maintenance an 1678663 1666955 10269 1439 Provision for Uncollect 1190501 1190501 catering 1124527 1116684 6879 964 Professional Developmen 164259 164259 Dues, fees & Subscripti 119894 73432 44364 2098 700400 320464 230803 149133 38079411 32101740 3524779 2452892 200 200 23317404 28643655 16489776 11815022 331371 717964 60000 40000 181303 172522 303738 271523 145756139 30532409 117996537 115223730 34287744 18534158 43293600 48380598 1792438 1264716 238054111 225064088 4127635 3571067 10896709 11186201 55520000 40425000 7943000 3028000 3759879 3870560 82247223 62080828 X 123917438 138795111 16864193 5137225 15025257 19050924 155806888 162983260 238054111 225064088 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 82736143 3991889 5028243 258814 17065254 29525 74402682 92784624 2940211 -9334222 312060 3306635 35775 82736143 0.73000 0.22000 0.06000 0 0 12404990 12404990 112753844 21497156 91256688 7944517 5777845 2166672 12652788 3257408 9395380 115223730 Alternative Investments 48380598 F 48380598 Enrollment deposits 3417253 Asset retirement obligation 237052 Unamortized Bond Premium 216255 3870560 43346949 38079411 5267538 1908834 1908834 7176372 41895577 1908834 893251 2802085 39093492 29525 4223932 4253457 43346949 34719205 893251 893251 33825954 29525 4223932 4253457 38079411 Part V, Line 4: Description of Intended Use of Endowment Funds: The School's endowment consists of over 50 individual funds established for a variety of purposes including both donor-restricted endowment funds and amounts designated by the Board of Trustees to function as endowment. The School has adopted an investment policy and a spending policy, approved by the School's Board of Trustees. For donor-restricted endowment assets, the policies attempt to provide a predictable stream of funding to donor-restricted programs while seeking to maintain the purchasing power of the related endowment assets. Endowment assets are invested with a moderate level of investment risk in accordance with an asset allocation strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and current yield (interest and dividends). The School targets a diversified asset allocation that places an emphasis on alternative investments to achieve its long-term return objectives within prudent risk constraints. The spending policy calls for annual withdrawals from the donor-restricted funds for donor-restricted purposes calculated as four percent of the average market value of the donor-restricted funds over the most recent three-year period. In addition, there are annual withdrawals from Board-designated funds for the School's long term debt service. Part X: Description of Uncertain Tax Positions Under FIN 48: The School is exempt from income tax under Section 501(c)(3) of the U.S. Internal Revenue Code (the Code) and has been determined to be an organization that is not a private foundation. Contributions made to the School are qualified for the maximum tax deduction allowable under the Code. The School recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Income generated from activities unrelated to the School's purpose is subject to tax under Internal Revenue Code Section 511. The School did not have any material unrelated business income tax liability for the years ended June 30, 2010 and 2009. Part XII, Line 2d - Other Adjustments: Rent Expense: 406089. Cost of Goods Sold: 487162. Part XII, Line 4b - Other Adjustments: Financial Aid: 4223932. Part XIII, Line 2d - Other Adjustments: Rent Expense: 406089. Cost of Goods Sold: 487162. Part XIII, Line 4b - Other Adjustments: Financial Aid: 4223932. 1 1 1 IN ALL OPEN HOUSE ADVERTISEMENTS: NEWSPAPER, BROADCAST AND OTHER MEDIA. 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Benefit 1253796 669235 584561 355550 Bookfair 65384 0 65384 54079 7 157515 41649 115866 97509 1476695 710884 765811 507138 507138 258673 84600 31645 1 1.00000 84600 31645 31645 52955 CT 1 0 0 0 0.00000 1.00000 Steven H Dudley As Overseer Schools Business Office 99 Maher Av Greenwich CT 06830 0 Steven H Dudley 0 Overall Supervision of Gaming Raffle X 0 1 FINANCIAL AID 155 4223932 Student's Tuition bill is reduced by the amount of the financial aid awarded. Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: THE SCHOOL GRANTS FINANCIAL AID AWARDS TO STUDENTS WHO DEMONSTRATE FINANCIAL NEED. STUDENTS SEEKING AID ARE REQUIRED TO COMPLETE THE SCHOOL AND STUDENT SERVICES FOR FINANCIAL AID (SSS) APPLICATION. THE SCHOOL USES THE ANALYSIS OF SSS IN DETERMINING THE AMOUNT OF EACH STUDENT'S FINANCIAL AID AWARD. The awards are used as an offset to the student's tuition bill. X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 Mr THOMAS W PHILIP 304136 0 0 0 81175 0 106850 0 163806 0 655967 0 0 0 Mr Steven H Dudley 224063 0 0 0 92232 0 85030 0 8164 0 409489 0 0 0 Mr Thomas Murray 163561 0 0 0 15208 0 8500 0 11771 0 199040 0 0 0 MR SUNIL GUPTA 134394 0 0 0 15280 0 12911 0 510 0 163095 0 0 0 MR DOUGLAS BURDETT 130289 0 0 0 15080 0 31019 0 56521 0 232909 0 0 0 MR ANDREW HALL 128320 0 0 0 10780 0 16701 0 48568 0 204369 0 0 0 MR TIMOTHY F OSTRYE 130743 0 0 0 516 0 17377 0 13414 0 162050 0 0 0 Mr Stephen Duennebier 118319 0 0 0 11116 0 16281 0 26897 0 172613 0 0 0 Part I, Line 1a housing is provided to the Headmaster as he is required to live on campus. the housing benefit is non-taxable compensation. Part I, Line 4a NONQUALIFIED RETIREMENT PLAN - THE SCHOOL MAINTAINS A 457(F) DEFERRED COMPENSATION PLAN IN WHICH CERTAIN SENIOR EXECUTIVES PARTICIPATE. FUNDED AMOUNTS ARE SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE. Payments included in 2009 w-2 were as follows: Thomas W. Philip $75,093 Steven H. Dudley $44,630 Supplemental Information Part III SCHEDULE J, PART II COLUMN B (III) - OTHER REPORTABLE COMPENSATION INCLUDES HOUSING BENEFITS FOR EMPLOYEES LIVING ON CAMPUS AND PAYMENTS FROM THE NONQUALIFIED RETIREMENT PLAN FOR CERTAIN SENIOR EXECUTIVES DESCRIBED IN SUPPLEMENTAL INFORMATION 1. SCHEDULE J, PART II COLUMN C - DEFERRED COMPENSATION INCLUDES CONTRIBUTIONS TO QUALIFIED RETIREMENT PLANS FOR ALL EMPLOYEES AND CONTRIBUTIONS TO THE NONQUALIFIED RETIREMENT PLAN FOR CERTAIN SENIOR EXECUTIVES DESCRIBED IN SUPPLEMENTAL INFORMATION 1. SCHEDULE J, PART II COLUMN D - NONTAXABLE BENEFITS INCLUDE CONTRIBUTIONS TO EMPLOYEE HEALTH AND OTHER BENEFIT PLANS FOR ALL EMPLOYEES, TUITION BENEFITS FOR EMPLOYEES WITH CHILDREN ATTENDING PRE-K THROUGH TWELFTH GRADE AND HOUSING BENEFITS FOR EMPLOYEES REQUIRED TO LIVE ON CAMPUS. State of CT health and Educational Facilities Author 060806186 20774lzv0 2003-04-01 17500000 Construction of New Campus 0 0 17500000 727837 17500000 2005 0 0 1 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 0 0 0 0 Steven H Dudley See Schedule O X 200000 40000 0 1 1 40000 Lone Pine Capital LLC Mrs. W. Robert Dahl, Trustee 105593 Investment Management (See Sch O) 0 X 61 610213 FMV at time of donation 0 1 1 Third Party Use: Part I, Line 32b: the School has an account at UBS to handle all gifts of publicly traded securities. The School's instructions to UBS is to sell all securities immediately and transfer the proceeds as directed by management. Form 990, Part VI, Section A, line 2 THE FOLLOWING ARE THE OFFICERS, DIRECTORS, TRUSTEES, OR KEY EMPLOYEES THAT HAVE A FAMILY RELATIONSHIP OR A BUSINESS RELATIONSHIP WITH ANOTHER OFFICER, DIRECTOR, TRUSTEE, OR KEY EMPLOYEE: BUSINESS RELATIONSHIP: MR. SANJEEV K. MEHRA MR. TRACY R. WOLSTENCROFT FAMILY & BUSINESS RELATIONSHIP: MR. IAN C. MURRAY MR. SHEPHERD MURRAY Form 990, Part VI, Section B, line 11 THE TREASURER OF THE BOARD OF TRUSTEES WILL REVIEW THE ANNUAL FORM 990 RETURN prior to filing. THIS REVIEW WILL BE NOTED AS AN AGENDA ITEM AT BOTH AN AUDIT/FINANCE COMMITTEE MEETING AND A BOARD OF TRUSTEE MEETING AND WILL BE DULY NOTED IN THE MINUTES. THE COMPLETED FORM 990 WILL BE MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF TRUSTEES. Form 990, Part VI, Section B, line 12c EACH NEW PERSON SERVING AS A TRUSTEE, OFFICER OR KEY EMPLOYEE OF BRUNSWICK SCHOOL IS REQUIRED TO REVIEW A COPY OF THE CONFLICT OF INTEREST POLICY AND TO ACKNOWLEDGE IN WRITING THAT HE OR SHE HAS DONE SO. EACH PERSON SERVING AS A TRUSTEE, OFFICER OR KEY EMPLOYEE OF BRUNSWICK SCHOOL SHALL ANNUALLY COMPLETE THE CONFLICT OF INTEREST DISCLOSURE FORM, IDENTIFYING ANY RELATIONSHIPS, POSITIONS OR CIRCUMSTANCES IN WHICH THE PERSON AND/OR HIS OR HER IMMEDIATE FAMILY IS INVOLVED THAT HE OR SHE BELIEVES COULD GIVE RISE TO A CONFLICT OF INTEREST. THE CHAIR OF THE BOARD OF TRUSTEES AND THE HEADMASTER SHALL REVIEW EACH DISCLOSURE FORM AND DETERMINE IF A CONFLICT EXISTS. IF A CONFLICT OF INTEREST IS DETERMINED TO EXIST IT SHALL BE DISCLOSED TO THE BOARD OF TRUSTEES, OR ITS AUDIT AND FINANCE COMMITTEE, AND MADE A MATTER OF RECORD THROUGH AN APPROVED PROCEDURE. THE PRIOR APPROVAL OF THE BOARD OF TRUSTEES OR AUDIT AND FINANCE COMMITTEE SHALL BE REQUIRED FOR ANY BUSINESS ARRANGEMENT OR TRANSACTION INVOLVING A TRUSTEE OR KEY EMPLOYEE WHICH MAY CONSTITUTE A CONFLICT OF INTEREST. APPROVAL SHALL BE GRANTED ONLY IF THE ARRANGEMENT OR TRANSACTION IS FULLY DISCLOSED AND IS DETERMINED TO BE ON TERMS WHICH ARE FAIR TO AND IN THE BEST INTERESTS OF BRUNSWICK SCHOOL. ANY TRUSTEE HAVING A CONFLICT OF INTEREST SHALL NOT VOTE OR USE HIS OR HER PERSONAL INFLUENCE ON THE MATTER, AND SHALL NOT BE COUNTED IN DETERMINING THE QUORUM FOR THE BOARD OR COMMITTEE MEETING. Form 990, Part VI, Section B, line 15 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES (COMPRISED OF TRUSTEES WITH NO CONFLICT OF INTEREST WITH REGARD TO INDIVIDUALS UNDER REVIEW) HIRES A CONSULTANT EVERY OTHER YEAR TO REVIEW COMPARABLE PACKAGES FOR THE HEADMASTER AND ASSISTANT HEADMASTER/DIRECTOR OF FINANCE. THE CONSULTANT PRESENTS DATA FOR COMPARABLE POSITIONS BOTH LOCALLY AND NATIONALLY AND THE COMPENSATION COMMITTEE MAKES THE FINAL DECISION FOR THE SALARY PACKAGE OVER THE 2-YEAR TIME FRAME, ASSUMING CONTINUATION OF EMPLOYMENT. THE HEADMASTER DETERMINES THE COMPENSATION OF KEY EMPLOYEES BASED ON EXPERIENCE, CURRENT PERFORMANCE AND COMPARABLE LOCAL AND NATIONAL POSITIONS USING FAIRCHESTER AND NAIS STATISTICS. Form 990, Part VI, Section C, line 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, & FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. ALSO, THE FEDERAL FORM 990 WHICH INCLUDES FINANCIAL AND OTHER DISCLOSURES IS AVAILABLE ON GUIDESTAR. Form 990, Part III, Line 1 School's Mission BRUNSWICK SCHOOL, INC. (THE SCHOOL) IS A NOT FOR PROFIT DAY SCHOOL, FOUNDED IN 1902, FOR BOYS IN PRE KINDERGARTEN THROUGH TWELFTH GRADE. THE SCHOOL, WHICH IS LOCATED IN GREENWICH, CONNECTICUT, IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE. THE PURPOSE OF THE SCHOOL IS TO EDUCATE THE "WHOLE BOY". IT WILL DO SO BY HELPING BOYS AND YOUNG MEN - WITHOUT REGARD TO CULTURE, ETHNICITY OR RELIGION - ACQUIRE THE PERSONAL, INTELLECTUAL AND PHYSICAL TRAINING THAT WILL BEST ENABLE THEM TO GROW INTO RESPONSIBLE ADULTS WHO CAN MAKE SIGNIFICANT AND LASTING CONTRIBUTIONS TO SOCIETY. SINCE 1902, BRUNSWICK SCHOOL HAS BEEN, IN THE WORDS OF GEORGE CARMICHAEL, ITS FOUNDER, "ABLY AND GENEROUSLY PREPARING BOYS FOR LIFE." THROUGH A RICH AND RIGOROUS COLLEGE PREPARATORY CURRICULUM, THE SCHOOL STRIVES FOR THE FULLEST INTELLECTUAL DEVELOPMENT OF EVERY YOUNG MAN. THE SCHOOL'S ACADEMIC PROGRAMS SEEK TO INSTILL IN EACH STUDENT A DESIRE TO LEARN, TO CHALLENGE EACH BOY TO FULFILL HIS OWN UNIQUE POTENTIAL, TO FOSTER CRITICAL THINKING SKILLS AND TO DEVELOP THE CREATIVE AND INDEPENDENT QUALITIES OF MIND NECESSARY TO INTELLECTUAL MATURITY AND INCREASED SELF-CONFIDENCE. THE SCHOOL ALSO BELIEVES THAT A COMPLETE EDUCATION MUST INCLUDE LESSONS THAT TAKE PLACE OUTSIDE THE CLASSROOM. THROUGH ATHLETICS, ARTS AND SERVICE TO THE COMMUNITY, EVERY STUDENT IS ENCOURAGED TO DEVELOP HIS TALENTS TO THE FULLEST, TO UNDERSTAND THE OBLIGATION TO SHARE THEM GENEROUSLY, TO TAKE RISKS TO ENSURE GROWTH AND TO REFUSE TO ACCEPT NARROW DEFINITION OF HIMSELF. AND AS ITS YOUNG MEN GROW IN AN ATMOSPHERE OF TRUST, CARE AND MUTUAL RESPECT, THE SCHOOL ACCEPTS THAT ITS OVERRIDING OBJECTIVE IS TO FOSTER THE DEVELOPMENT OF STRONG CHARACTER. THE SCHOOL STRIVES TO INSTILL IN ITS STUDENTS THE VALUES OF HONESTY, INTEGRITY, COMPASSION AND TOLERANCE AND TO DEVELOP IN EACH STUDENT A SENSE OF RESPONSIBILITY TO HIMSELF, TO THOSE AROUND HIM, TO THE SCHOOL COMMUNITY AND TO THE GREATER SOCIETY. THE SCHOOL BELIEVES, ABOVE ALL ELSE, THAT IT IS THE STRENGTH OF A YOUNG MAN'S CHARACTER AND THE DEPTH OF HIS SPIRIT THAT DETERMINE AND DEFINE ALL GENUINE AND LASTING SUCCESS. SCHEDULE G, PART III, LINE 9A - GAMING THE SCHOOL'S PARENT ASSOCIATION, AN ALL VOLUNTEER ORGANIZATION WITHIN THE SCHOOL, HELD A RAFFLE AT A SPECIAL EVENT FOR WHICH THE SCHOOL RECEIVED A PERMIT FROM THE STATE OF CONNECTICUT FOR THIS ONE GAMING EVENT. THE SCHOOL DID NOT HOLD ANY OTHER GAMING EVENT DURING THE YEAR AND DOES NOT HOLD A GAMING LICENSE. THE PARENT'S ASSOCIATION MAINTAINED THE BOOKS AND RECORDS FOR THE RAFFLE AND FILED THE REQUIRED STATE REPORT AT ITS CONCLUSION. STEVEN H. DUDLEY, THE SCHOOL'S ASSISTANT HEADMASTER AND DIRECTOR OF FINANCE, OVERSEES THE PARENT ASSOCIATION. SCHEDULE L, PART II & IV Description of Interested Persons FROM TIME TO TIME, MEMBERS OF THE SCHOOL'S BOARD OF TRUSTEES ENTER INTO VARIOUS TRANSACTIONS WITH THE SCHOOL. THESE TRANSACTIONS INCLUDE ASSET MANAGEMENT SERVICES BY ORGANIZATIONS AFFILIATED WITH INDIVIDUAL BOARD MEMBERS. THE SCHOOL BELIEVES THAT ALL SUCH TRANSACTIONS ARE INITIATED ON AN ARM'S LENGTH BASIS. DURING 2010 AND 2009, LONE PINE CAPITAL, LLC (LPC), AN INVESTMENT COMPANY THAT MANAGES A PORTION OF THE SCHOOL'S INVESTMENT PORTFOLIO TOTALING $6,989,111 AND $7,669,437, RESPECTIVELY, IS AFFILIATED WITH A MEMBER OF THE SCHOOL'S BOARD OF TRUSTEES, MRS. W. ROBERT DAHL. MRS. W. ROBERT DAHL SERVES AS THE MANAGING DIRECTOR OF LPC. LPC RECEIVED MANAGEMENT FEES OF $105,593 AND $90,831 DURING 2010 AND 2009, RESPECTIVELY. MR. JEFFREY R. HOLZSCHUH, A BRUNSWICK SCHOOL TRUSTEE, IS VICE CHAIRMAN OF MORGAN STANLEY AND BRUNSWICK SCHOOL OPENED A BROKERAGE ACCOUNT AT MORGAN STANLEY IN JUNE 2009 IN WHICH APPROX. $5MM OF BRUNSWICK SCHOOL'S ASSETS WERE INVESTED. THE INVESTMENT DECISION WAS INITIATED AND APPROVED BY THE INVESTMENT COMMITTEE OF THE BOARD OF DIRECTORS. NO FEES WERE PAID TO MORGAN STANLEY DURING THE YEAR-ENDED JUNE 30, 2010. AS PART OF A LONG TERM COMPENSATION AND RETENTION PROGRAM, THE SCHOOL ISSUED A LOAN IN THE ORIGINAL PRINCIPAL SUM OF $200,000 TO A HIGHLY VALUED AND LONG STANDING SENIOR OFFICER AND EMPLOYEE OF THE SCHOOL. THE LOAN IS SECURED BY A MORTGAGE ON A RESIDENCE. THE ANNUAL AMOUNT FORGIVEN IS INCLUDED AS COMPENSATION EXPENSE EACH YEAR. THE TOTAL AMOUNT OF THE LOAN OUTSTANDING WAS $40,000 AND $60,000 AT JUNE 30, 2010 AND 2009, RESPECTIVELY, AND IS INCLUDED IN OTHER RECEIVABLES IN THE ORGANIZATIONS'S FINANCIAL STATEMENTS. BRUNSWICK SCHOOL HOLDINGS LLC 100 Maher Avenue Greenwich CT 068305618 060646562 FAC HOUSING CT 12360 1860171 Brunswick School Inc BRUNSWICK SCHOOL HOLDINGS I LLC 100 Maher Avenue Greenwich CT 068305618 060646562 ATHLETIC FAC. CT 121247 3102989 Brunswick School Inc BRUNSWICK SCHOOL HOLDINGS II LLC 100 Maher Avenue Greenwich CT 068305618 060646562 FAC HOUSING CT 49680 5848357 Brunswick School Inc