2011-05-16T13:46:26-05:00 2010-06-30 Tonneson & Company CPAs PC 401 Edgewater Place Suite 300 Wakefield MA 018806208 990 2009-07-01 042103623 ST MARK'S SCHOOL OF SOUTHBOROUGH INC STMA 5087866000 25 MARLBOROUGH ROAD SOUTHBOROUGH MA 01772 R William Burgess Jr 5087866000 2011-05-12 1 Cynthia P Almquist 7812459999 2011-05-12 2009 2016-02-24 21:20:13Z R William Burgess Jr 25 MARLBOROUGH ROAD SOUTHBOROUGH MA 01772 25011061 0 X www.stmarksschool.org X 1865 MA Refer to Schedule O, Page 51St. Mark's School educates young people for lives of leadership and service. Founded in 1865 as an intentionally small residential community, the School challenges its students to develop their particular analytic and creative capabilities by both inspiring their academic and spiritual curiosity and kindling their passion for discovery. We value cooperation over self-interest, and we encourage each person to explore his or her place in the larger world beyond our campus. 26 25 247 25 173404 156026 2323110 2850074 13300205 14245381 -6505097 7388793 374141 286312 9492359 24770560 3139321 3564784 0 9866974 10188037 0 1710227 10885855 10647035 23892150 24399856 -14399791 370704 160415134 165530998 33793413 34415680 126621721 131115318 Refer to Schedule O, Page 51 0 0 19128518 3564784 14245381 St. Mark's School of Southborough provides a high quality four year co-educational secondary level education to approximately 335 residential and day students. 19128518 1 1 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 81 0 1 247 1 1 1 1 BD NT CJ EI 0 0 0 0 0 0 0 26 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X John Clemens 5087866172 St Marks School of Southborough Southborough MA 01772 G Thomas Martinson 3.00 X X 0 0 0 Alys Reynders Scott 3.00 X X 0 0 0 R William Burgess Jr 3.00 X X 0 0 0 The Rt Reverend J Clark Grew 3.00 X X 0 0 0 Linda Ayers 2.00 X 0 0 0 Rebecca Greenleaf Clapp 2.00 X 0 0 0 Nicholas S Everett 2.00 X 0 0 0 John Farr 2.00 X 0 0 0 Anthony James de Villers Hill X 0 68550 13842 Elsa N Hill X 0 68550 17425 Olivia Farr 2.00 X 0 0 0 The Honorable C Boyden Gray 2.00 X 0 0 0 David Harmon 2.00 X 0 0 0 Michael T Hawkins 2.00 X 0 0 0 Winston Hutchins 2.00 X 0 0 0 Jane L Jackson 2.00 X 0 0 0 Francisco J Lopez-Balboa 2.00 X 0 0 0 Kurt A Melden 2.00 X 0 0 0 Mackin Pulsifer 2.00 X 0 0 0 George Putnam III 2.00 X 0 0 0 Margaret R Sanel 2.00 X 0 0 0 David W Scudder 2.00 X 0 0 0 Jackie Sohn 2.00 X 0 0 0 Edward A Taft III 2.00 X 0 0 0 Paul Thompson III 2.00 X 0 0 0 Myron A Wick III 2.00 X 0 0 0 Bruce Wilson 2.00 X 0 0 0 John C Warren 40.00 X X 226494 0 42559 Kirk I Swenson 40.00 X 186431 0 13886 Kingsley C Norris 40.00 X 160467 0 33333 Robert D Meyer 40.00 X 150056 0 33447 Kenneth J Griffin 40.00 X 120669 0 25796 Anne E Behnke 40.00 X 104531 0 16615 948648 0 165636 6 0 1 0 Flik Independent Schools 91337 Collections Center Drive Chicago IL 606931337 Food Services 1088127 TIAA-CREF 730 Third Avenue New York NY 10017 Pension & Annuity 697975 Utica National Insurance Group PO Box 6532 Utica NY 13504 Insurance 194976 Focus Technology Solutions 93 Ledge Road Seabrook NH 03784 Technology Contractor 173213 Consigli Construction Co Inc 72 Summer Street Milford MA 01757 General Contractor 168927 7 2850074 479600 2850074 Tuition 611600 14245381 14245381 14245381 97460 97460 7291333 7291333 173404 7117929 295505 240501 55004 55004 Explorations Program 611710 189382 189382 Hockey Rink 611710 35245 35245 Miscellaneous Income 611710 6681 6681 231308 24770560 14476689 173404 7270393 3564784 3564784 278378 278378 7455645 5235354 1361128 859163 6371 6371 2447643 1672474 501869 273300 3460 3460 38920 38920 2133859 1731887 313111 88861 882622 452587 226185 203850 505467 336978 168489 1350390 1168731 181659 313584 181022 81212 51350 190786 114873 40665 35248 744926 744144 782 3827001 3706243 120758 Miscellaneous 316105 46818 136972 132315 Special Functions 146539 70544 31768 44227 Repairs and Maintenance 97967 59999 20009 17959 Memberships and Subscri 74409 42080 28375 3954 Bad Debts 21000 21000 24399856 19128518 3561111 1710227 862321 513839 1045488 1200685 177855 211638 180597 126730 182383 152177 945498 983856 86143628 42415621 46128328 43728007 56554685 11017738 54337979 107596328 160415134 165530998 5800964 6374488 5611053 6149675 21120000 20510000 1261396 1381517 33793413 34415680 X 54861173 53835763 32585447 37550605 39175101 39728950 126621721 131115318 160415134 165530998 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 90971501 175012 11140369 6551266 95735616 125204256 715286 -24861521 10086520 90971501 0.29750 0.39910 0.30340 0 0 306000 306000 69728581 31930508 37798073 15332205 10485113 4847092 776842 776842 43728007 Private Equity Funds 107596328 F 107596328 Annuities Payable 966688 Interest Rate Swap 414829 1381517 24770560 24399856 370704 4209544 -86651 4122893 4493597 25655821 4209544 240501 4450045 21205776 3564784 3564784 24770560 21162224 327152 327152 20835072 3564784 3564784 24399856 Part V, Line 4: Description of Intended Use of Endowment Funds: The School's primary objective is long-term capital appreciation which together with income will provide for the growth of the endowment while allowing support for current activities. The School has adopted a spending policy whereby a percentage of the historical average market value of the endowment for program services and capital needs is distributed and treated as support for operating activities. To the extent the total return requirement for the current year is not fulfilled by interest and dividends, the School utilizes realized gains of its endowment. To the extent the total return requirement for the current year is exceeded by interest and dividends, the School adds the excess income to its endowment. Part XI, Line 8 - Other Adjustments: Change in Fair Value of Interest Rate Swap: -86651. Part XII, Line 2d - Other Adjustments: Inventory Cost of Sales: 240501. Part XII, Line 4b - Other Adjustments: Financial Aid: 3564784. Part XIII, Line 2d - Other Adjustments: Inventory Cost of Sales: 240501. Change in Fair Value of Interest Rate Swap: 86651. Part XIII, Line 4b - Other Adjustments: Financial Aid: 3564784. 1 1 1 Racially nondiscriminatory policy is included in all communications to the community. The School is a member of the Association of Independent Schools of New England (AISNE). AISNE annually publishes a racially nondiscriminatory policy in various newspapers throughout New England for its members. 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 Financial Aid 100 3564784 0 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Financial aid is based solely upon need. The School utilizes an independent outside service bureau to help determine a family's ability to pay school costs. This service and process helps ensure that the School uses the same methods and objective procedures as other schools in evaluating an applicant's application. Employee dependents are exempt from this process and receive 100% financial aid. Total financial aid is approved by the Board of Trustees. The Head of School approves all individual financial aid recipients. X 0 0 X X X X X 0 0 0 0 0 0 0 0 0 John C Warren 226494 0 0 0 0 0 0 0 42559 0 269053 0 0 0 Kirk I Swenson 186431 0 0 0 0 0 0 0 13886 0 200317 0 0 0 Kingsley C Norris 160467 0 0 0 0 0 0 0 33333 0 193800 0 0 0 Robert D Meyer 150056 0 0 0 0 0 0 0 33447 0 183503 0 0 0 Massachusetts Industrial Finance Agency 043431814 1995-12-01 8500000 Finance construction costs 0 0 Massachusetts Development Finance Agency 043431814 2004-08-05 16700000 Finance construction costs 0 0 8493032 337150 8155882 0 0 1 1 16700000 404000 16296000 0 0 1 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 X 18 479600 Market Value 0 0 0 Form 990, Part VI, Section B, line 11 The School's Treasurer, Business Manager and Controller are responsible for overseeing the preparation of IRS Form 990 (990). The 990 and its supporting schedules were prepared by the public accounting firm, Tonneson + Co (Tonneson), responsible for auditing the School's financial statements. Tonneson's work was based on information provided to them during the course of the audit by the School's accounting department, plus additional work requested specific to the 990. The Treasurer, Business Manager and Controller performed a detailed review of the completed 990 and reported the results of its review to the Finance Committee. The Finance Committee recommended to the Board of Trustees the approval of the Form 990. The Board of Trustees then voted to approve the Form 990. Form 990, Part VI, Section B, line 12c All members of the Board of Trustees, Committee members, officers and management-level employees are required to disclose annually any existing or potential conflict of interest. The Board of Trustees may also provide for such corrective action as it deems appropriate by reason of a failure to disclose such conflict of interest, which may include removal from a position or office. Disclosure forms shall be updated annually or sooner if changed circumstances require disclosure. All persons subject to this policy are expected to update their "Statement Concerning Possible Duality of Interest and Conflict of Interest" at any time during the year that the information requested on the form changes. The administration and maintenance of the "Statement Concerning Possible Duality of Interest and Conflict of Interest" shall be the responsibility of the both the Head of School and the President of the Board of Trustees. Form 990, Part VI, Section B, line 15 The Compensation Committee of Trustees initially determines compensation for the Head of School and reviews compensation for other key employees based on benchmarking with area peer schools. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, financial statements and Form 990 are immediately made available to the public by calling the School's office, walking into the School's office or mailing in a request to the School. The Form 990 and financial statements are also available through the Massachusetts Attoney General's office/website. Additionally, the financial statements are available to the public on the Electronic Municipal Market Access website.