2011-01-10T08:40:57-06:00 2010-06-30 ALBIN RANDALL & BENNETT CPA'S PO BOX 445 130 MIDDLE STREET PORTLAND ME 041120445 990 2009-07-01 010211565 WAYNFLETE SCHOOL WAYN 2077745721 360 SPRING STREET PORTLAND ME 04102 ANNE C HAGSTROM 2077745721 2011-01-10 1 2077721981 2009 2016-02-24 21:20:13Z MARK W SEGAR 360 SPRING STREET PORTLAND ME 04102 14193025 0 X WWW.WAYNFLETE.ORG X 1935 ME TO OFFER LOWER, MIDDLE AND UPPER SCHOOL EDUCATION WHICH ENGAGES THE IMAGINATION AND INTELLECT OF ITS STUDENTS, GUIDES THEM TOWARDS SELF-GOVERNANCE AND SELF-KNOWLEDGE AND ENCOURAGES THEIR RESPONSIBLE AND CARING PARTICIPATION IN THE WORLD. 19 19 325 55 0 0 896283 1043033 12047856 12262334 357396 366232 23381 30920 13324916 13702519 1806921 2131929 0 8330011 8293652 0 429146 3457700 3598333 13594632 14023914 -269716 -321395 37557555 38540590 15586123 16337838 21971432 22202752 TO OFFER LOWER, MIDDLE AND UPPER SCHOOL EDUCATION WHICH ENGAGES THE IMAGINATION AND INTELLECT OF ITS STUDENTS, GUIDES THEM TOWARDS SELF-GOVERNANCE AND SELF-KNOWLEDGE AND ENCOURAGES THEIR RESPONSIBLE AND CARING PARTICIPATION IN THE WORLD. 0 0 11249716 2131929 12316756 PRIVATE EARLY CHILDHOOD, ELEMENTARY, MIDDLE AND SECONDARY EDUCATION UTILIZED BY APPROXIMATELY 550 STUDENTS. 11249716 1 1 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 50 0 1 325 1 0 0 0 0 0 0 0 0 0 19 19 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 ME X ANNE HAGSTROM 2077745721 360 SPRING STREET PORTLAND ME 04102 JANE BATZELL 2.00 X 0 0 0 GREGORY BOULOS 2.00 X 0 0 0 CAROLYN BRAUN 2.00 X 0 0 0 CESAR BRITOS 2.00 X 0 0 0 PAUL FRIEDLAND 2.00 X 0 0 0 GREG HASTINGS 2.00 X 0 0 0 HILARY HOLM 2.00 X X 0 0 0 ANNE JACKSON 2.00 X 0 0 0 GREGG LIPTON 2.00 X 0 0 0 DIANE LUKAC 2.00 X X 0 0 0 JAN MACLEOD 2.00 X 0 0 0 SUE MCMULLAN 2.00 X 0 0 0 DENNEY MORTON 2.00 X 0 0 0 CYNTHIA ORCUTT 2.00 X 0 0 0 DARRELL PARDY 2.00 X X 0 0 0 ERICA SCHAIR-CARDONA 2.00 X 0 0 0 RICHARD STEELE 2.00 X 0 0 0 AYRES STOCKLY 2.00 X X 0 0 0 ROSA SCARCELLI 2.00 X 0 0 0 MARK SEGAR 50.00 X 277499 0 27413 PETER HAMBLIN 50.00 X 101046 0 15193 378545 0 42606 2 0 1 0 0 1043033 97261 1043033 TUITION 611600 11354385 11354385 SUMMER PROGRAMS 611600 189230 189230 TUTORING 611600 184228 184228 CAFETERIA 722210 181454 181454 TRANSPORTATION 480000 169137 169137 183900 183900 12262334 307718 307718 92 92 16850 16850 16850 16850 526468 4000 472046 54422 4000 58422 54422 4000 32530 18460 14070 14070 13702519 12316756 0 342730 2131929 2131929 308356 277520 30836 6251052 5127305 860207 263540 1277600 1065685 165500 46415 456644 372033 66757 17854 91608 91608 22017 22017 43337 43337 51067 44777 6290 92944 92944 262571 262571 212401 208679 3572 150 500899 500899 664596 664596 71583 71583 MAINTENANCE, SUPPLIES, 1428142 1234803 129397 63942 MISCELLANEOUS 111050 57461 50769 2820 DUES & SUBSCRIPTIONS 27431 5518 20273 1640 TRUSTEE EXPENSES 9222 9222 BAD DEBTS 6689 4740 1949 2776 2776 14023914 11249716 2345052 429146 334206 1923311 3148483 2960612 3521649 236606 52957 81532 73034 50129 1283 983 207292 109910 24422763 6077029 18757962 18345734 406679 167848 10104380 14470195 949630 193730 37557555 38540590 1354930 1322355 2364540 2551355 11090000 11090000 12720 3360 763933 1370768 15586123 16337838 X 14622203 18014086 4533817 1202171 2815412 2986495 21971432 22202752 37557555 38540590 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10508486 2975073 1469266 95590 298021 89019 14470195 12449245 389791 -1919555 85756 325239 10508486 0.79390 0.20610 0 0 714802 714802 22823328 5384849 17438479 299203 263168 36035 585430 429012 156418 18345734 COMMON FUND 14470195 F 14470195 INTEREST RATE SWAP LIABILITY 1370768 1370768 13702519 14023914 -321395 1161499 -608784 552715 231320 12138989 1161499 -593100 568399 11570590 2131929 2131929 13702519 11907669 15684 15684 11891985 2131929 2131929 14023914 Part V, Line 4: Description of Intended Use of Endowment Funds: Waynflete has a policy of appropriating funds for distribution each year equal to 5% of its endowment fund's average fair value over the prior 12 quarters through the fiscal year-end preceding the fiscal year in which the distribution is planned. In accordance with UPMIFA, the School considers the following factors in making a determination to appropriate or accumulate donor-restricted endowment funds: the duration and preservation of the fund; the purposes of the School and donor-restricted endowment fund; general economic conditions; the possible effect of inflation and deflation; the expected total return from income and the appreciation of investments; other resources of the School; and the investment policies of the School. Part X: Description of Uncertain Tax Positions Under FIN 48: THE SCHOOL DOES NOT BELIEVE IT HAS TAKEN A POSITION ON ITS TAX RETURNS WHICH WOULD REQUIRE THE RECOGNITION OF A TAX BENEFIT AND, ACCORDINGLY, NO ADJUSTMENT TO THE FINANCIAL STATEMENTS HAS BEEN MADE. Part XI, Line 8 - Other Adjustments: LOSS FROM PLEDGE: -1949. UNREALIZED LOSS ON INTEREST RATE SWAP: -606835. Part XII, Line 2d - Other Adjustments: UNREALIZED LOSS ON INTEREST RATE SWAP: -606835. LOSS ON PLEDGE: -1949. SPECIAL EVENT EXPENSES: 18460. CAPITAL CAMPAIGN EXPENSES: -2776. Part XII, Line 4b - Other Adjustments: FINANCIAL AID: 2131929. Part XIII, Line 2d - Other Adjustments: SPECIAL EVENT EXPENSES: 18460. CAPITAL CAMPAIGN EXPENSES: -2776. Part XIII, Line 4b - Other Adjustments: FINANCIAL AID: 2131929. 1 1 1 WAYNFLETE SCHOOL ADVERTISES THROUGH THE MAINE ASSOCIATION OF INDEPENDENT SCHOOLS COMBINED ADVERTISMENT FOR MEMBER SCHOOLS AND IN LOCAL NEWSPAPERS. 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 HANDS TO ART & REUNION 29849 29849 17234 FALL FLING 2682 2682 1226 32531 32531 18460 18460 14071 0 FINANCIAL AID 2131929 FINANCIAL AID X X X X 1 1 X X X X X X 0 1 0 0 0 0 0 0 0 MARK SEGAR 277499 0 0 0 0 0 16500 0 10913 0 304912 0 0 0 PETER HAMBLIN 101046 0 0 0 0 0 0 0 15193 0 116239 0 0 0 FINANCE AUTHORITY MAINE 010392006 56042BBM8 2007-10-01 11090000 CONSTRUCTION OF BUILDING 0 0 11090000 212630 10877370 2008 0 1 1 1 0 1 1 WELLS FARGO BANK NA 27.200000000000 0 0 0 MARK SEGAR TO PURCHASE HOUSING X 200000 50129 0 1 1 50129 X 13 139444 MARKET VALUE 0 1 0 Form 990, Part VI, Section B, line 11 REVIEWED BY THE EXECUTIVE COMMITTEE Form 990, Part VI, Section B, line 12c CONFLICT OF INTEREST IS MONITORED EVERY YEAR, AS THE TRUSTEES ARE ASKED TO COMPLETE A FORM ANNUALLY. IF A CONFLICT EXISTS, IT IS DISCUSSED AND RESOLVED AT THE BOARD LEVEL. TRUSTEES EXCUSE THEMSELVES FROM A VOTE WHEN A CONFLICT ARISES. ENFORCEMENT IS PART OF THE GOVERNING PROCESS Form 990, Part VI, Section B, line 15a THE MEMBERS OF THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES MET NUMEROUS TIMES OVER A PERIOD OF MONTHS TO RESEARCH, ANALYZE, NEGOTIATE AND SIGN THE HEAD OF SCHOOL'S CURRENT CONTRACT. COMMITTEE MINUTES WERE TAKEN AND REMAIN ON FILE WITH OTHER BOARD DOCUMENTS. MEETINGS TOOK PLACE DURING THE SPRING OF 2008 AND RESUMED AFTER THE SUMMER INTO THE 2008-2009 SCHOOL YEAR. TO PROVIDE EXPERTISE AND ENHANCE OUR UNDERSTANDING OF THE COMPETITIVE LANDSCAPE, COMPARATIVE FINANCIAL DATA, RELEVANT CHANGES IN DEFERRED COMPENSATION REGULATIONS AND GOAL SETTING BENCHMARKS, A COMPENSATION CONSULTANT WAS RETAINED. A NUMBER OF POTENTIAL CONSULTANTS WERE CONSIDERED AND EXTENSIVE INTERVIEWS CONDUCTED WITH THREE OF THEM. THE COMMITTEE ELECTED TO WORK WITH PETER CALFEE OF CALFEE FINANCIAL. THE COMMITTEE WORKED WITH MR. CALFEE OVER MANY MONTHS TO CONSTRUCT FAIR AND COMPETITIVE CONTRACT TERMS. MR. CALFEE PROVIDED A REBUTTABLE PRESUMPTION LETTER TO THE COMMITTEE AT THE CONCLUSION OF OUR WORK. THE COMMITTEE ALSO WORKED WITH TWO ATTORNEYS TO REVIEW THE CONTRACT LANGUAGE AND TO WRITE THE SCHOOL'S 457(F) PLAN. THE COMMITTEE REVIEWED THE PRIOR CONTRACT AND EXAMINED SALARY, BENEFITS AND DEFERRED COMPENSATION DATA FOR PEER SCHOOLS AS WELL AS SCHOOLS NATIONALLY. DATA EXAMINED WAS SOURCED FROM NAIS, THE 990'S OF OTHER SCHOOLS AND THE COMPENSATION CONSULTANT RETAINED BY THE COMMITTEE. DATA WAS EXAMINED FOR HEADS WITH MODEST EXPERIENCE TO THOSE WITH EXTENSIVE EXPERIENCE, AND FOR SCHOOLS ACROSS A VARIETY OF SIZES. OUR GOAL WAS TO PROVIDE A PACKAGE THAT WAS COMPETITIVE, MARKET DRIVEN, FAIR AND REPRESENTATIVE OF THE VALUE MARK SEGAR BRINGS TO THE SCHOOL. THE COMMITTEE'S WORK WAS PRESENTED ON SEVERAL OCCASIONS TO THE FULL BOARD AND INCLUDED THE OPPORTUNITY FOR BOARD MEMBERS TO SPEAK DIRECTLY WITH THE OUTSIDE COMPENSATION CONSULTANT. THE FINAL COMPONENTS OF THE CONTRACT WERE PRESENTED TO THE BOARD AND APPROVED BY THE COMPENSATION COMMITTEE. Form 990, Part VI, Section C, line 19 Upon Request Form 990, Part XI, Line 2c THE PROCESS FOR INDEPENDENT AUDITOR SELECTION AND OVERSIGHT OF THE AUDIT DID NOT CHANGE FROM THE PRIOR YEAR.