2011-11-14T16:48:23-06:00 2011-06-30 RSM MCGLADREY INC 80 CITY SQUARE BOSTON MA 021293742 990 2010-07-01 020222227 ST PAUL'S SCHOOL STPA 6032294737 325 PLEASANT STREET CONCORD NH 03301 MICHELLE L CHICOINE 6032294737 2011-11-14 1 LYNNE JOHNSON 6179129000 2010 2016-03-07 17:11:31Z MICHAEL G HIRSCHFELD 325 PLEASANT STREET CONCORD NH 03301 266556211 0 X WWW.SPS.EDU X 1856 NH ST. PAUL'S SCHOOL IS A COEDUCATIONAL RESIDENTIAL BOARDING SCHOOL. (SEE SCHEDULE O)ST. PAUL'S SCHOOL IS A COEDUCATIONAL RESIDENTIAL BOARDING SCHOOL FOR GRADES 9 THROUGH 12, FOUNDED IN 1856 AS A PLACE FOR HUMANE BUT RIGOROUS EDUCATION WITHIN A SETTING OF GREAT NATURAL BEAUTY. THE SCHOOL IS LOCATED IN CONCORD, NH, ON A BUCOLIC CAMPUS CONSISTING OF WOODLAND, FIELDS, AND PONDS AND IS HOME TO APPROXIMATELY 535 STUDENTS AND 105 FACULTY MEMBERS. 26 25 468 0 350070 284070 30152823 19467906 24780357 25707230 15708720 14739457 744129 723122 71386029 60637715 7173205 7701504 0 0 22636629 23115060 0 0 3951163 16651549 18469393 46461383 49285957 24924646 11351758 604567069 685329688 57418826 76107323 547148243 609222365 X BELIEVING THAT EDUCATION IS LIFELONG AND CONTINUES BEYOND THE CLASSROOM, ST. PAUL'S SCHOOL INVITES A DIVERSE GROUP OF APPROXIMATELY 537 STUDENTS AND 300 FACULTY AND STAFF MEMBERS TO CREATE AN EXTENDED FAMILY WHICH RESPECTS (SEE SCHEDULE O FOR CONTINUATION) AND NURTURES INDIVIDUAL TALENT, PERSONAL FREEDOM, AND RESPONSIBILITY, INTELLECTUAL CURIOSITY AND PUBLIC SERVICE. STUDENTS ARE ENCOURAGED TO SEEK THE HIGHEST STANDARDS OF SCHOLASTIC, ARTISTIC AND PHYSICAL ACHIEVEMENT THROUGH AN INTEGRATED CURRICULUM. 0 0 41645072 7487904 24795122 ST. PAUL'S SCHOOL'S PRIMARY PROGRAM SERVICE IS THE EDUCATION OF STUDENTS IN GRADES 9 THROUGH 12, IN A FULLY RESIDENTIAL BOARDING SCHOOL ENVIRONMENT. ENROLLMENT FOR 2010-2011 WAS 537. THE SCHOOL STRIVES TO BE AN INCLUSIVE, EQUITABLE, AND RICHLY DIVERSE COMMUNITY, ONE THAT IS COMMITTED TO ENSURING EQUAL ACCESS TO OPPORTUNITIES, AS WELL AS PROMOTING INDIVIDUAL GROWTH THROUGH LEARNING ABOUT THE SELF AND THE PERSPECTIVES AND EXPERIENCE OF OTHERS. THE CONCENTRATED ACADEMIC WORK DONE IN COLLABORATION BY THE STUDENTS AND FACULTY AT ST. PAUL'S SCHOOL IS THE HALLMARK OF OUR ACADEMIC PROGRAM. THROUGH THE SCHOOL'S RIGOROUS ACADEMIC STANDARDS, WE ENCOURAGE OUR MOTIVATED STUDENTS TO ATTAIN THE HIGHEST LEVELS OF SCHOLARSHIP AND INTELLECTUAL GROWTH AND DEVELOPMENT. 882852 213600 941096 ST. PAUL'S SCHOOL FOUNDED THE ADVANCED STUDIES PROGRAM (ASP) IN 1958 TO PROVIDE TALENTED NEW HAMPSHIRE PUBLIC AND PAROCHIAL HIGH SCHOOL JUNIORS WITH CHALLENGING EDUCATIONAL OPPORTUNITIES OTHERWISE UNAVAILABLE TO THEM. EACH SUMMER, APPROXIMATELY 268 YOUNG MEN AND WOMEN LIVE ON THE ST. PAUL'S SCHOOL CAMPUS FOR FIVE AND A HALF WEEKS. STUDENTS ARE IMMERSED IN A COLLEGE-LEVEL CURRICULUM AND CHALLENGED TO DISCOVER NEW WAYS OF LEARNING. ASP OFFERS A WIDE VARIETY OF COURSES FROM SHAKESPEARE TO ASTRONOMY, WHICH THOROUGHLY EXPLORE TOPICS IN SEVERAL DISCIPLINES. IN THEIR TIME AT ASP, STUDENTS BECOME IMMERSED IN THEIR SUBJECT OF CHOICE, SETTING THEM UP FOR A LIFELONG UNDERSTANDING OF THE MATERIAL. (SEE SCHEDULE O FOR CONTINUATION) ADDITIONALLY, ALL ASP STUDENTS HAVE AN OPPORTUNITY TO ENHANCE THEIR WRITING SKILLS THROUGH COMPULSORY INTERACTIVE WRITING WORKSHOPS. 42527924 1 1 0 1 1 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 1 1 0 0 0 1 1 0 0 0 0 1 X 221 0 1 468 1 1 0 0 0 0 0 0 0 0 0 0 X 26 25 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH X X DEBORAH J BRANN CONTROLLER 6032294737 325 PLEASANT STREET CONCORD NH 03301 DR LAUREL D ABBRUZZESE 3.00 X 0 0 0 MRS LAURA HILDESLEY BARTSCH 3.00 X 0 0 0 MRS EMILY L BOGLE 3.00 X 0 0 0 MRS CANDACE E BROWNING-PLATT 3.00 X 0 0 0 REV PETER G CHENEY 3.00 X 0 0 0 MR HYUN-JOON CHO 3.00 X 0 0 0 MR JAMES A DIAMOND 3.00 X 0 0 0 MR MARK D EICHORN 3.00 X 0 0 0 MR SCOTT G FOSSEL 3.00 X 0 0 0 MR JAMES M FRATES 3.00 X 0 0 0 MS SABRINA WING-YEE FUNG 3.00 X 0 0 0 MR CHRISTOPHER D HEINZ 3.00 X 0 0 0 MR JAMES DEK HOUGHTON 3.00 X 0 0 0 MR WILLIAM T KENNEDY 3.00 X 0 0 0 MR JOHN A LECHNER 3.00 X 0 0 0 MR ROBERT D LINDSAY 3.00 X X 0 0 0 MR P ANDREWS MCLANE 3.00 X 0 0 0 MRS SARAH BANKSON NEWTON 3.00 X 0 0 0 DR OLUFUNMILAYO I OLOPADE 3.00 X 0 0 0 MRS HILARY BEDFORD PARKHURST 3.00 X 0 0 0 MR DOUGLAS SCHLOSS 3.00 X X 0 0 0 MR ROBERT B STOCKMAN 3.00 X 0 0 0 MR JAMES M WATERBURY JR 3.00 X X 0 0 0 MR REEVE B WAUD 3.00 X 0 0 0 MR VICTOR C YOUNG 3.00 X 0 0 0 MR PHILIP L LAIRD 3.00 X 0 0 0 MR WILLIAM R MATTHEWS JR 60.00 X X 295187 0 134479 MS MICHELLE L CHICOINE 50.00 X 235269 0 61746 MR MICHAEL G HIRSCHFELD 50.00 X 177428 0 105368 DR JOHN C BASSI 50.00 X 154881 0 65799 MR WILLIAM L KISSICK 50.00 X 149185 0 77435 MS CANDICE J DALE 50.00 X 130928 0 49523 MR WILLIAM F MITCHELL 50.00 X 128167 0 35718 1271045 0 530068 13 0 1 0 KALLMANN MCKINNELL & WOOD ARCHITECTS IN 181 NEWBURY STREET BOSTON MA 02116 ARCHITECT 779772 SIMPSON GUMPERTZ & HEGER INC 41 SEYON ST WALTHAM MA 02453 ENGINEERING CONSULTANT 401422 MARK A EDWARDS & COMPANY INC 124 LONGWOOD AVENUE 1 BROOKLINE MA 02446 PUBLIC RELATIONS 275000 CAMBRIDGE ASSOCIATES LLC 100 SUMMER ST BOSTON MA 021102112 INVESTMENT CONSULTANT 273482 MCLANE GRAF RAULERSON & MIDDLETON PA 900 ELM STREET MANCHESTER NH 03101 LEGAL COUNSEL 118553 7 19467906 1382165 19467906 TUITION & FEES 611710 25707230 25707230 25707230 2729179 2729179 9000 9000 9000 9000 217798055 4624 205789467 2934 12008588 1690 12010278 350070 11660208 165409 126095 39314 39314 CHILDREN'S LEARNING CT 624410 645820 645820 MISCELLANEOUS REVENUE 900099 28988 28988 674808 60637715 25736218 350070 15083521 7701504 7701504 671932 385645 197833 88454 32527 19190 6181 7156 16276809 13586148 802609 1888052 2111506 1779457 124519 207530 2780216 2322227 172762 285227 1242070 1049464 72227 120379 140192 140192 98530 98530 389422 389422 99125 73262 25863 221478 194948 3631 22899 438333 247977 32803 157553 542536 513730 9983 18823 4608585 4580482 5624 22479 568573 323953 22178 222442 32294 24108 6145 2041 1536622 1413692 61465 61465 5056909 4657300 197333 202276 697577 386330 294450 16797 SUPPLIES FOR PROGRAMS 1474501 1474501 EDU SUPPORT FOR PROGRAM 1363508 1363508 ENTERTAINMENT/SPEC EVNT 990237 360584 39457 590196 DUES AND MEMBERSHIPS 162169 143176 7462 11531 PAYROLL AND HRIS 48802 48802 49285957 42527924 2806870 3951163 7360854 7009497 11597234 37072149 31331307 454192 726125 171726 126824 181054 178134 1188018 1357902 226714729 54703611 150577049 172011118 56473009 50806275 338226037 397537574 12862981 12647698 604567069 685329688 5771368 8852336 40000000 55087639 11647458 12167348 57418826 76107323 X 196885875 214790385 228261042 263764993 122001326 130666987 547148243 609222365 604567069 685329688 X 11351758 50722364 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 13232 13232 0 EXPLANATION OF OTHER LOBBYING ACTIVITIES: PART II-B, LINE 1I: ST. PAUL'S SCHOOL IS A MEMBER OF A NUMBER OF ASSOCIATIONS SUCH AS THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS, COUNCIL OF ADVANCEMENT AND SUPPORT OF EDUCATION AND THE NATIONAL ASSOCIATION OF COLLEGE & UNIVERSITY FOOD SERVICES, WHICH MAY USE A PORTION OF MEMBERSHIP DUES TO LOBBY ON BEHALF OF ITS MEMBERS. ST. PAUL'S SCHOOL ALSO PAID RATH, YOUNG AND PIGNATELLI FOR LEGAL SERVICES REGARDING LEGISLATIVE ISSUES AS PART OF A GROUP OF NEW HAMPSHIRE INDEPENDENT SCHOOLS. TOTAL DUES AND FEES PAID TO THESE TYPES OF ORGANIZATIONS IN FISCAL YEAR 2011 WAS $13,232. THE PORTION OF DUES AND FEES ALLOCATED TO LOBBYING ACTIVITIES IS NOT DETERMINABLE. 1 256332 242510 4789597 0 0 388022844 16041134 62509390 3242650 13370365 383495 449576858 356818621 2390489 45986761 2919625 13853902 399500 388022844 456689737 7043370 -87906057 2646161 15999213 363055 356818621 0.27000 0.73000 1 0 4697489 4697489 169490799 39776725 129714074 19548940 12065528 7483412 32977501 2861358 30116143 172011118 US EQUITY 21634478 F INTERNATIONAL EQUITY 81813420 F MARKETABLE ALTERNATIVES 162860684 F NON-MARKETABLE ALTERNATIVES 61472435 F INFLATION HEDGING 54177078 F FIXED INCOME 15579479 F 397537574 ADVANCE DEPOSITS 2341561 LIABILITIES UNDER SPLIT INTEREST AGREEMENTS 4988096 INTEREST RATE SWAP AGREEMENT 4837691 12167348 60637715 49285957 11351758 48481075 2241289 50722364 62074122 119362737 48481075 10763378 59244453 60118284 519431 519431 60637715 57288615 16739110 16739110 40549505 389422 8347030 8736452 49285957 PART I, LINE 5 & 6: THE SCHOOL HAS NO DONOR ADVISED FUNDS. PART V, LINE 4: THE SCHOOL'S ENDOWMENT FUNDS ARE USED IN PERPETUITY TO FUND THE SPS PROGRAMS. THE PRINCIPAL IS INVESTED FOR LONG-TERM GROWTH TO PRESERVE THE PRESENT AND FUTURE GENERATIONS OF STUDENTS. FOR PART X, LINE 2: THE SCHOOL FOLLOWS FASB ASC 740, INCOME TAXES, REGARDING ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES BY PRESCRIBING THE RECOGNITION THRESHOLD A TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. MANAGEMENT BELIEVES THAT THE SCHOOL HAS NO MATERIAL UNCERTAINTIES IN INCOME TAXES. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2008. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED GAIN ON INTEREST RATE SWAP: 1,391,246 ACTUARIAL ADJUSTMENT: 850,043 TOTAL: $2,241,289 PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID: -7,701,504 SPENDING POLICY: 16,613,015 ACTUARIAL ADJUSTMENT: 850,043 INVESTMENT FEES: -389,422 UNREALIZED GAIN ON INTEREST RATE SWAP: 1,391,246 TOTAL: $10,763,378 PART XII, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD: -126,095 CHILDREN'S LEARNING CENTER EXPENSES: 645,526 TOTAL: $519,431 PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPENDING POLICY: 16,613,015 COST OF GOODS SOLD: 126,095 TOTAL: $16,739,110 PART XIII, LINE 4B - OTHER ADJUSTMENTS: CHILDREN'S LEARNING CENTER EXPENSES: 645,526 FINANCIAL AID: 7,701,504 TOTAL: 8,347,030 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 OUR POLICY IS PUBLISHED ANNUALLY IN A REGIONAL NEWSPAPER, INCLUDED IN ALL PROSPECTIVE STUDENT LITERATURE AND DISTRIBUTED TO STUDENTS IN OUR STUDENT HANDBOOK. THE POLICY IS ALSO NOTED ON OUR WEBSITE, AND IS INCLUDED WITH ALL EMPLOYMENT ADVERTISEMENTS INCLUDED IN NEWSPAPERS OR OTHER PUBLICATIONS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 MONIES RECEIVED ARE FROM VARIOUS FEDERAL OR STATE FOOD SUBSIDY PROGRAMS. EAST ASIA AND THE PACIFIC 0 0 FUNDRAISING N/A 14883 EUROPE 0 0 FUNDRAISING N/A 20498 CENTRAL AMERICA & THE CARIBBEAN 0 0 PROGRAM SERVICES PROGRAM SERVICES (SEE PART V) 49061 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES PROGRAM SERVICES (SEE PART V) 40904 EUROPE 0 0 PROGRAM SERVICES PROGRAM SERVICES (SEE PART V) 146786 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES PROGRAM SERVICES (SEE PART V) 4411 CENTRAL AMERICA & THE CARIBBEAN 0 0 INVESTMENTS N/A 202853683 EUROPE 0 0 INVESTMENTS N/A 6358437 0 0 0 209488663 0 209488663 1 0 0 1 1 0 OTHER INFORMATION SCHEDULE F, PART V PART I, LINE 3, COLUMN (E): REGIONS: CENTRAL AMERICA AND THE CARIBBEAN, EAST ASIA AND THE PACIFIC, EUROPE, MIDDLE EAST AND NORTH AFRICA. (E) SPECIFIC TYPES OF SERVICES IN REGION: PROGRAM SERVICE ACTIVITIES INCLUDE ADMISSIONS TRAVEL, FACULTY PROFESSIONAL DEVELOPMENT, AND OFF-CAMPUS PROGRAM STUDENT TRIPS. 1 FINANCIAL AID ASSISTANCE TO ATTEND ST. PAUL'S SCHOOL 196 0 7701504 FAIR MARKET VALUE FINANCIAL AID ASSISTANCE AWARDED TO ATTEND ST. PAUL'S SCHOOL PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: ANY STUDENT OR APPLICANT REQUESTING FINANCIAL AID FROM ST. PAUL'S SCHOOL MUST COMPLETE THE PERSONAL FINANCIAL STATEMENT (PFS) OFFERED BY THE SCHOOL AND STUDENT SERVICES - NAIS, AS WELL AS PROVIDE COPIES OF RECENT TAX INFORMATION BY A SPECIFIED DEADLINE. THE SCHOOL'S DIRECTOR OF FINANCIAL AID EVALUATES ALL APPLICATIONS USING THE PFS FORMULA AND DETERMINES THE FINANCIAL NEED OF EACH APPLICANT. STUDENTS THAT ARE DETERMINED TO HAVE A FINANCIAL NEED ARE AWARDED GRANT FUNDS TO MEET 100% OF THEIR DETERMINED NEED. X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 MR WILLIAM R MATTHEWS JR 277805 0 0 0 17382 0 89594 0 44885 0 429666 0 0 0 MS MICHELLE L CHICOINE 229011 0 0 0 6258 0 28430 0 33316 0 297015 0 0 0 MR MICHAEL G HIRSCHFELD 177338 0 0 0 90 0 22487 0 82881 0 282796 0 0 0 DR JOHN C BASSI 154545 0 0 0 336 0 19776 0 46023 0 220680 0 0 0 MR WILLIAM L KISSICK 148927 0 0 0 258 0 19579 0 57856 0 226620 0 0 0 MS CANDICE J DALE 130550 0 0 0 378 0 16207 0 33316 0 180451 0 0 0 MR WILLIAM F MITCHELL 127987 0 0 0 180 0 16954 0 18764 0 163885 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - NONTAXABLE TRAVEL EXPENSES UNDER THE ACCOUNTABLE PLAN INCURRED FOR BONA FIDE BUSINESS PURPOSES ON BEHALF OF A FAMILY MEMBER OF WILLIAM R. MATTHEWS WERE PAID BY THE SCHOOL. HOUSING ALLOWANCE - ST. PAUL'S SCHOOL IS A FULLY RESIDENTIAL BOARDING SCHOOL. AS A REQUIREMENT OF EMPLOYMENT, ALL FACULTY MEMBERS MUST LIVE ON CAMPUS AND ARE PROVIDED NONTAXABLE HOUSING BY THE SCHOOL. LISTED EMPLOYEES WHO RECEIVED SCHOOL HOUSING ARE AS FOLLOWS: - MR. WILLIAM R. MATTHEWS - $28,800 - MS. MICHELLE L. CHICOINE - $28,800 - MR. MICHAEL G. HIRSCHFELD - $28,800 - DR. JOHN C. BASSI - 28,800 - MS. CANDICE J. DALE - $28,800 PART I, LINE 4B MR. WILLIAM R. MATTHEWS PARTICIPATES IN THE SCHOOL'S NONQUALIFIED RETIREMENT PLAN AND ACCRUED BENEFITS OF $40,000 DURING THE FISCAL YEAR 2010-2011. PAYMENT OF ACCRUED BENEFITS WILL BE MADE SUBSEQUENT TO REACHING A VESTING DATE OF JUNE 30, 2011. NHHEFA REVENUE BONDS ST PAUL'S SCHOOL 020279866 644614G45 2010-09-30 15217879 SEE PART V 0 0 0 15217879 213618 3416722 11587539 2013 0 0 0 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 1 NATIXIS FUNDING CORP 1.166666700000 1 0 1 34640 SEE PART V MARCIA MATTHEWS SEE PART V 32527 SEE PART V 0 UNITED EDUCATORS SEE PART V 212724 SEE PART V 0 SCH L, PART III, GRANTS OR ASSISTANCE BENEFITTING INTERESTED PERSONS: (C) AMOUNT OF GRANT $34,640(C) TYPE OF ASSISTANCE: NEED BASED SCHOLARSHIPPART IV, LINE 1, COLUMN A - NAME OF INTERESTED PERSON: MARCIA MATTHEWS COLUMN B - RELATIONSHIP BETWEEN INTERESTED PERSON AND THE ORGANIZATION: FAMILY MEMBER OF WILLIAM R. MATTHEWS, TRUSTEE AND RECTOR COLUMN D-DESCRIPTION OF TRANSACTION: COMPENSATION PAID BY ORGANIZATIONPART IV, LINE 1, COLUMN A-NAMES OF INTERESTED PERSON: UNITED EDUCATORS COLUMN B-RELATIONSHIP BETWEEN INTERESTED PERSON AND THE ORGANIZATION: OFFICER, MICHELLE L. CHICOINE, SERVES AS A DIRECTOR COLUMN D-DESCRIPTION OF TRANSACTION: INSURANCE PREMIUMS PAID BY ORGANIZATION X 127 1375185 MARKET VALUE X ATHELTIC EQ. 1 2589 MARKET VALUE X HOSPITALITY 3 2966 MARKET VALUE X LIBRARY PROD. 1 1425 MARKET VALUE 0 1 1 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS IS BASED ON THE NUMBER OF GIFTS RECEIVED. THIRD PARTY USE: PART I, LINE 32B: ALL STOCK GIFTS ARE RECEIVED, PROCESSED AND SOLD BY THE SCHOOL'S CUSTODIAN BANK. EXPLANATION FOR NOT FILING FORM 990-T FORM 990, PART V, LINE 3B ST. PAUL'S HAS FILED FORM 8868, APPLICATION FOR EXTENSION OF TIME TO FILE AN EXEMPT ORGANIZATION RETURN, TO REQUEST AN EXTENSION FOR FORM 990-T FOR THE TAX YEAR ENDING JUNE 30, 2011. FORM 990, PART VI, SECTION A, LINE 6 THE SCHOOL'S GOVERNING BODY CONSISTED OF TRUSTEES WHO HAVE THE RIGHT TO PARTICIPATE IN THE SCHOOL'S GOVERNANCE. ALL TRUSTEES HAVE THE SAME VOTING RIGHTS. THE FULL BOARD OF TRUSTEES MUST VOTE ON THE REMOVAL OF TRUSTEES OR THE HIRING OR FIRING OF THE RECTOR OR DISSOLUTION OF THE SCHOOL. THE FULL BOARD APPROVES SIGNIFICANT DECISIONS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7A CERTAIN DESIGNEES OF THE ALUMNI AND PARENTS ASSOCIATIONS SERVE AS MEMBERS OF THE BOARD OF TRUSTEES OF ST. PAUL'S SCHOOL AND HAVE THE SAME AUTHORITY AS OTHER ELECTED MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS PREPARED BY THE SCHOOL'S CONTROLLER AND REVIEWED BY THE CHIEF FINANCIAL OFFICER AS WELL AS THE SCHOOL'S OUTSIDE TAX FIRM PRIOR TO BEING PRESENTED TO THE AUDIT COMMITTEE. AN AUDIT COMMITTEE MEETING WAS HELD, PRIOR TO THE FILING OF THE FORM 990. AT THIS TIME, THE FORM 990 WAS REVIEWED IN DETAIL AND APPROVED FOR SUBMISSION TO THE INTERNAL REVENUE SERVICE. PRIOR TO THE FINAL FORM BEING ELECTRONICALLY SUBMITTED TO THE INTERNAL REVENUE SERVICE A COPY WAS PROVIDED TO ALL THE MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C ST. PAUL'S SCHOOL MAINTAINS A WRITTEN CONFLICT OF INTEREST POLICY THAT IS INCLUDED IN THE SCHOOL'S POLICIES AND PROCEDURES MANUAL WHICH IS UPDATED AND DISSEMINATED TO ALL EMPLOYEES AND TRUSTEES ANNUALLY. AT THE START OF EACH FISCAL YEAR, THE CHIEF FINANCIAL OFFICER OF THE SCHOOL REQUIRES THAT EACH TRUSTEE, OFFICER, AND KEY EMPLOYEE COMPLETES A CONFLICT OF INTEREST DISCLOSURE FORM. ANY CONFLICTS IDENTIFIED BY THE CONFLICT OF INTEREST DISCLOSURE FORM ARE SUMMARIZED IN A REPORT TO THE PRESIDENT OF THE BOARD OF TRUSTEES AND THE CHAIR OF THE TRUSTEES & GOVERNANCE COMMITTEE. THE BOARD OF TRUSTEES IS NOTIFIED OF ANY CONFLICTS AND ACTION, IF NECESSARY, IS TAKEN BY THE TRUSTEES. AT THE CONCLUSION OF THE FISCAL YEAR, PRIOR TO THE SUBMISSION OF THE FORM 990, A GOVERNING BODY MEMBER ANNUAL QUESTIONNAIRE IS PROVIDED TO EACH TRUSTEE, OFFICER AND/OR KEY EMPLOYEE. THIS QUESTIONNAIRE REQUIRES THE DISCLOSURE OF ANY CONFLICTS OF INTEREST THAT MAY HAVE EXISTED DURING THE PRIOR FISCAL YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE, CONSISTING SOLELY OF OUTSIDE DIRECTORS, IS RESPONSIBLE FOR ADMINISTERING THE COMPENSATION OF THE RECTOR AND ANY OTHER OFFICERS. THE COMMITTEE MEETS APPROXIMATELY THREE TIMES A YEAR TO: 1. SET GOALS FOR THE RECTOR. 2. DETERMINE WHAT, IF ANY, OUTSIDE RESOURCES ARE NECESSARY TO SET APPROPRIATE COMPENSATION IN THAT YEAR. 3. HIRE ANY NECESSARY OUTSIDE CONSULTANTS. 4. REVIEW AND SET COMPENSATION BY A REVIEW OF COMPARABLE OUTSIDE DATA INCLUDING 990 AND PEER SCHOOL INFORMATION. 5. REVIEW THE RECTOR'S PERFORMANCE. 6. AMEND, IF NECESSARY, THE RECTOR'S EMPLOYMENT CONTRACT. 7. SET COMPENSATION FOR RECTOR AND OTHER OFFICERS. 8. REVIEW AND APPROVE THE MINUTES OF THE PREVIOUS COMPENSATION COMMITTEE MEETING. THE COMPENSATION COMMITTEE REPORTS ON ITS MEETINGS TO THE FULL BOARD OF TRUSTEES AND THE ACTIONS OF THE COMPENSATION COMMITTEE ARE RATIFIED AT THE NEXT MEETING OF THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 ST. PAUL'S SCHOOL MAKES AVAILABLE TO THE PUBLIC VIA ITS WEBSITE THE FOLLOWING GOVERNING DOCUMENTS: - BY-LAWS - INTERNAL REVENUE SERVICE TAX DETERMINATION LETTER - FILED FORM 990 FOR THE THREE MOST RECENT FISCAL YEARS - BOARD OF TRUSTEE COMMITTEE CHARTERS IN ADDITION, ST. PAUL'S SCHOOL MAKES OUR AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE SCHOOL COMMUNITY (EMPLOYEES, PARENTS AND ALUMNI) VIA OUR SECURED PASSWORD PROTECTED WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 48,481,075. UNREALIZED GAIN ON INTEREST RATE SWAP 1,391,246. ACTUARIAL ADJUSTMENT 850,043. TOTAL TO FORM 990, PART XI, LINE 5: 50,722,364. ST PAUL'S SCHOOL - E BURKE ROSS JR NEW JERSEY FINANCIAL AID FUND LLC 172 SOUTH OCEAN BLVD PALM BEACH FL 33480 161673430 FINANCIAL AID FUND NJ 601816 4789597 N/A CHARITABLE REMAINDER TRUST 325 PLEASANT STREET CONCORD NH 03301 CHARITABLE TRUST NH N/A T 15042 1.00000 CHARITABLE REMAINDER TRUST 325 PLEASANT STREET CONCORD NH 03301 CHARITABLE TRUST NH N/A T 3568262 1.00000 CHARITABLE REMAINDER TRUST 325 PLEASANT STREET CONCORD NH 03301 CHARITABLE TRUST NH N/A T 2434 1.00000 CHARITABLE REMAINDER TRUST 325 PLEASANT STREET CONCORD NH 03301 CHARITABLE TRUST NH N/A T 245816 1.00000 CHARITABLE REMAINDER TRUST 325 PLEASANT STREET CONCORD NH 03301 CHARITABLE TRUST NH N/A T 30000 1.00000 CHARITABLE REMAINDER TRUST 325 PLEASANT STREET CONCORD NH 03301 CHARITABLE TRUST NH N/A T 90344 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PART IV: NAMES AND EINS ARE AVAILABLE TO THE IRS UPON REQUEST.