2011-02-14T08:26:10-06:00 2010-06-30 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2009-07-01 060910420 THE CHOATE ROSEMARY HALL FOUNDATION INCORPORATED CHOA 2036972225 333 CHRISTIAN STREET WALLINGFORD CT 064923818 RICHARD SALTZ 2036972225 2011-02-12 1 8605614000 2009 2016-02-24 21:20:13Z EDWARD SHANAHAN 333 CHRISTIAN STREET WALLINGFORD CT 064923818 65341891 0 X WWW.CHOATE.EDU X 1974 CT TO PROVIDE A QUALITY SECONDARY INDEPENDENT SCHOOL EDUCATION TO APPROXIMATELY 850 STUDENTS PER YEAR. 27 26 602 0 -25866 -25866 14254026 20512908 38854479 40704579 775591 3606883 -1899 -30867 53882197 64793503 7201023 8305357 0 25149163 24229268 26965 27392 3405009 25296159 25791560 57673310 58353577 -3791113 6439926 379068769 404888329 64334739 64479087 314734030 340409242 TO PROVIDE A QUALITY, COMPREHENSIVE, SECONDARY INDEPENDENT SCHOOL EDUCATION TO APPROXIMATELY 850 STUDENTS PER YEAR. 0 0 17245459 39373583 THE SCHOOL EDUCATES (ACADEMICALLY, RESIDENTIALLY AND ATHLETICALLY) APPROXIMATELY 850 STUDENTS, GENERATING OVER $27.8 MILLION OF NET TUITION AND FEES, THROUGH THE EFFORTS OF DEDICATED FACULTY AND SUPPORT. 9266141 THE SCHOOL MAINTAINS OVER 1.2 MILLION SQUARE FEET OF RESIDENTIAL, ACADEMIC AND ATHLETIC SPACE FOR A COMMUNITY OF OVER 1,000 MEMBERS. THE MAJORITY OF THIS EXPENSE REFLECTS THE DEPRECIATION ON THE SCHOOL PROPERTY, PLANT AND EQUIPMENT, WHICH HAS A CURRENT NET ASSET VALUE OF OVER $107 MILLION. 8305357 8305357 THE SCHOOL DISCOUNTS TUITION IN THE FORM OF FINANCIAL AID AT AN APPROXIMATE RATE OF 23.5% IN AN EFFORT TO RECRUIT AND RETAIN THE MOST TALENTED STUDENT BODY. THE SCHOOL RECOGNIZES THAT A DIVERSE STUDENT BODY BETTERS THE OVERALL EXPERIENCE FOR ALL INVOLVED, AND THAT WHILE NOT EVERYONE CAN CONTRIBUTE FINANCIALLY IN TERMS OF TUITION, EVERYONE HAS SOMETHING TO OFFER THE CHOATE ROSEMARY HALL COMMUNITY. 3970415 MANAGEMENT FEES FOR FOOD SERVICE AND HOUSEKEEPING 1367511 TRAVEL AND CONFERENCE EXPENSES 1594689 OFFICE AND INFORMATION TECHNOLOGY EXPENSES 2607008 ALL OTHER PROGRAM RELATED EXPENSES, INCLUDING ADVERTISING, ROYALTIES, INTEREST PAYMENTS, OUTSIDE RENTALS, ETC. 9539623 44356580 1 1 0 0 0 0 0 0 1 1 1 0 1 1 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 1 0 0 0 0 181 0 1 602 1 1 1 1 SP FR 0 0 0 0 0 0 0 27 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X EDWARD T GRIFFIN CONTROLLER 2036972225 333 CHRISTIAN STREET WALLINGFORD CT 06492 EDWARD SHANAHAN 60.00 X X 351093 0 103897 LUIS H BALL 2.00 X 0 0 0 SUSAN M BARCLAY 2.00 X 0 0 0 JEAN BERNHARD BUTTNER 2.00 X 0 0 0 MICHAEL J CARR 2.00 X 0 0 0 RICHARD ELMAN 2.00 X 0 0 0 ROBERT B GOERGEN JR 2.00 X 0 0 0 JEFFREY W GREENBERG 2.00 X 0 0 0 ROBERT L HARTEVELDT 2.00 X 0 0 0 BRETT M JOHNSON 2.00 X 0 0 0 WARREN B KANDERS 2.00 X 0 0 0 HERBERT V KOHLER JR 2.00 X 0 0 0 JEFFREY LAIKIND 2.00 X 0 0 0 EDWARD O LANPHIER 2.00 X 0 0 0 GRETCHEN COOPER LEACH 2.00 X 0 0 0 GILLIAN S MESTRE 2.00 X 0 0 0 ROBERT A MINICUCCI 2.00 X 0 0 0 LINDA H RIEFLER 2.00 X 0 0 0 MARSHALL S RUBEN 2.00 X 0 0 0 HENRY K SNYDER 2.00 X 0 0 0 M WINDOW SNYDER 2.00 X 0 0 0 JEANETTE SUBLETT 2.00 X 0 0 0 THOMAS M VIERTEL 2.00 X 0 0 0 BENJAMIN S WALTON 2.00 X 0 0 0 CAROLYN SEELY WIENER 2.00 X 0 0 0 JAMES A LEBOVITZ 2.00 X 0 0 0 GREGORY J MUTH 2.00 X 0 0 0 RICHARD SALTZ 60.00 X 206707 0 52248 JOHN BURDITT 40.00 X 238414 0 30876 DANIEL COURCEY 60.00 X 246577 0 81200 BENJAMIN GARDNER 60.00 X 181583 0 48275 STEPHEN FARRELL 60.00 X 134121 0 76614 KATHLEEN WALLACE 40.00 X 135633 0 49150 ANN WARDWELL 40.00 X 139753 0 20100 EDWARD GRIFFIN 40.00 X 135239 0 17077 1769120 0 479437 9 0 1 0 ARAMARK CAMPUS SERVICES PO BOX 198532 ATLANTA GA 303848532 FOOD SERVICE 3048829 ABM JANITORIAL SERVICES PO BOX 1534 NEW YORK NY 100081534 CLEANING SERVICE 1276492 BARRETT INC 106 MILL PLAIN ROAD DANBURY CT 06811 CONSTRUCTION 711234 HI STONE & SON INC 313 MAIN STREET N SOUTHBURY CT 06488 CONSTRUCTION 327428 FIP CONSTRUCTION 10 MCKEE PLACE CHESIRE CT 06410 CONSTRUCTION 304990 19 20512908 4121769 20512908 TUITION AND FEES 611710 39373583 39373583 STUDENT ACTIVITIES 611710 352463 352463 RENTS 611710 195620 195620 INFIRMARY/COUNSELING 611710 192718 192718 APPLICATION FEES 611710 131251 131251 458944 458944 40704579 1042480 609 1041871 327814 354289 -26475 -26475 -26475 2564403 2564403 2564403 2564403 189084 194099 -5015 -5015 CLASS ACTION SETTLEMEN 900099 623 623 623 64793503 40700187 -25866 3606274 8305357 8305357 1042791 87773 532894 422124 16695815 12565630 2842370 1287815 2436103 1716719 471796 247588 2780260 1953605 725081 101574 1274299 921732 238698 113869 4017559 3970415 40016 7128 189772 189772 55550 55550 27392 27392 1829618 1829618 2317961 832400 1230835 254726 43745 36858 6887 2024527 1169091 470296 385140 212504 212478 18 8 7290 7290 1998438 1774212 203356 20870 1589453 1239120 32385 317948 136552 128391 6918 1243 1512583 1449055 47041 16487 7374540 7057098 235058 82384 634686 76627 549880 8179 MAINTENANCE & REPAIR 904107 358204 545903 EQUIPMENT PURCHASE 243242 213120 12128 17994 OUTSIDE RENTALS 114598 64145 2552 47901 GIFTS & RECOGNITION 85823 35001 6183 44639 UNIFORMS 79285 78838 447 419727 103421 316306 58353577 44356580 10591988 3405009 15432849 15145856 31530095 33692613 68526 100200 282399 363888 1981339 1895613 187255162 79520908 107070421 107734254 111869618 131027365 110169090 114706925 664432 221615 379068769 404888329 6220251 5050108 9915350 10435357 40775000 39910000 32127 7392011 9083622 64334739 64479087 X 117494175 131651693 93478882 102904227 103760973 105853322 314734030 340409242 379068769 404888329 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 215360644 8791990 24430184 9198280 2255421 237129117 262771094 7740267 -42218364 11363000 1569353 215360644 0.29000 0.43000 0.28000 0 0 2498668 2498668 151539000 60185388 91353612 20569940 15023075 5546865 12647554 4312445 8335109 107734254 LIMITED PARTNERSHIPS 112103322 F SPLIT INTEREST AGREEMENTS 2603603 F 114706925 LIABILITY UNDER SPLIT-INTEREST AGREEMENTS 2856052 AMOUNTS HELD ON BEHALF OF OTHERS 118413 INTEREST RATE SWAP VALUATION 6109157 9083622 64793503 58353577 6439926 21473070 -2237784 19235286 25675212 75900215 21473070 -10813543 10659527 65240688 -447185 -447185 64793503 48366788 447185 447185 47919603 10433974 10433974 58353577 Part V, Line 4: Description of Intended Use of Endowment Funds: THE INTENDED USE OF THE ENDOWMENT FUNDS IS TO SUPPORT THE ORGANIZATION'S MISSION OF PROVIDING A QUALITY EDUCATION TO STUDENTS. Part XI, Line 8 - Other Adjustments: BENEFITS PAID ON ANNUITY OBLIGATIONS: -379563. MISCELLANEOUS: -6. UNREALIZED LOSS ON INTEREST RATE SWAP: -1858215. Part XII, Line 2d - Other Adjustments: FINANCIAL AID RECLASS: -8305357. INVESTMENT MANAGEMENT FEE RECLASS: -2255395. CHANGE IN VALUE OF SPLIT INTEREST OBLIGATIONS: 126778. BENEFITS PAID ON ANNUITY OBLIGATIONS: -379563. MISCELLANEOUS: -6. Part XII, Line 4b - Other Adjustments: RENTAL EXPENSES RECLASS: -338514. COST OF GOODS SOLD RECLASS: -194099. RECLASS POSTAGE RECHARGES: 85428. Part XIII, Line 2d - Other Adjustments: COST OF GOODS SOLD RECLASS: 194099. RENTAL EXPENSES RECLASS: 338514. RECLASS POSTAGE RECHARGES: -85428. Part XIII, Line 4b - Other Adjustments: FINANCIAL AID RECLASS: 8305357. INVESTMENT MANAGEMENT FEES RECLASS: 2255395. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS: -126778. 1 1 1 A STATEMENT OF CHOATE'S NON-DISCRIMINATORY POLICY IS INCLUDED IN ALL BROCHURES AND CATALOGS PERTAINING TO APPLICATIONS, FINANCIAL AID AND ENROLLMENT MATERIALS UTILIZED DURING STUDENT RECRUITMENT, MATRICULATION AND RE-ENROLLMENT, IS POSTED IN MULTIPLE LOCATIONS ON OUR WEB SITE, AND IS STATED IN ALUMNI PUBLICATIONS. 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EUROPE 1 1 PROGRAM SERVICES STUDY ABROAD PROGRAMS 609520 EAST ASIA AND THE PACIFIC PROGRAM SERVICES STUDY ABROAD PROGRAMS 238452 1 1 847972 X X X X X 1 RUFFALO CODY FUNDRAISING 0 62631 27392 35239 62631 27392 35239 1 FINANCIAL AID 277 8305357 OTHER FINANCIAL AID-REDUCTION IN TUITION Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: FINANCIAL AID IS PROVIDED VIA A REDUCTION IN TUITION. X X 0 1 X X X X X 0 1 0 0 0 0 0 0 0 EDWARD SHANAHAN 318222 0 0 0 32871 0 53250 0 50647 0 454990 0 0 0 RICHARD SALTZ 181650 0 0 0 25057 0 27248 0 25000 0 258955 0 0 0 JOHN BURDITT 205842 0 0 0 32572 0 30876 0 0 0 269290 0 0 0 DANIEL COURCEY 208000 0 0 0 38577 0 56200 0 25000 0 327777 0 0 0 BENJAMIN GARDNER 155170 0 0 0 26413 0 23275 0 25000 0 229858 0 0 0 STEPHEN FARRELL 127630 0 0 0 6491 0 19444 0 57170 0 210735 0 0 0 KATHLEEN WALLACE 135000 0 0 0 633 0 20250 0 28900 0 184783 0 0 0 ANN WARDWELL 134000 0 0 0 5753 0 20100 0 0 0 159853 0 0 0 EDWARD GRIFFIN 113850 0 0 0 21389 0 17077 0 0 0 152316 0 0 0 Part I, Line 1b THE SCHOOL REQUIRES THAT ITS SENIOR LEADERSHIP RESIDE ON CAMPUS AS A CONDITION OF EMPLOYMENT. ALL FACULTY WHO RESIDE IN SCHOOL HOUSING ARE REQUESTED TO SUBSTANTIATE THEIR "BUSINESS USE" OF THE FACILITY ONCE A YEAR. ALL FACULTY ARE REQUIRED TO PROVIDE SERVICES TOWARD THE RESIDENTIAL LIFE PROGRAM AT CHOATE ROSEMARY HALL. THE SCHOOL DOES NOT REIMBURSE EXPENSES FOR HOUSING AND PERSONAL SERVICES. Part I, Line 4a DANIEL COURCEY PARTICIPATES IN A 457(F) NONQUALIFIED DEFERRED COMPENSATION PLAN. DURING 2009, HE EARNED $25,000. CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 060806186 20774UUD5 2008-04-02 42415000 SERIES D BONDS WERE ISSUED TO REFINANCE SERIES C BONDS ISSUES THROUGH CHEFA 0 0 40775000 303792 415000 42000000 2008 1 0 1 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 0 VARIOUS CHILDREN OF FACULTY COLLEGE GRANTS OF $500 EACH SANDRA PODESTA SHANAHAN SPOUSE OF KEY OFFICER/TREASURER 32602 EMPLOYMENT 0 THERESE BURDITT SPOUSE OF KEY EMPLOYEE 24150 EMPLOYMENT 0 X 1523759 DONATING COMPANY VALUATI X 91 2598010 VALUE ON DATE RECEIVED 1 0 1 1 Third Party Use: Part I, Line 32b: OPPENHEIMER IS A FULL SERVICE BROKER THAT IS THE SCHOOL'S DEDICTATED SECURITIES BROKER. Form 990, Part VI, Section B, line 11 THE MANAGEMENT OF THE SCHOOL DISTRIBUTES THE DRAFT COPY OF THE FORM 990 TO THE ENTIRE BOARD OF TRUSTEES. THE AUDIT COMMITTEE CALLS A MEEETING FOR ALL TRUSTEES IN WHICH MANAGEMENT GOES THROUGH THE FORM 990, THE FORM 990-T AND THE FORM CT-990T IN DETAIL. AFTER REVIEW AND APPROVAL, THE FORM IS SUBMITTED TO THE PROPER AUTHORITIES. Form 990, Part VI, Section B, line 12c THE SCHOOL'S AUDIT COMMITTEE DOES AN INVENTORY OF EACH RESPONDENT'S CONFLICT OF INTEREST QUESTIONNAIRE BEFORE EACH APRIL MEETING. THE AUDIT COMMITTEE ENSURES THERE IS A 100% RESPONSE RATE. THE TRUSTEESHIP COMMITTEE FOLLOWS UP ON CONFLICTS THAT ARE DISCLOSED, IF ANY. Form 990, Part VI, Section B, line 15 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES MEETS ONCE A YEAR TO DISCUSS AND REVIEW THE HEADMASTER'S AND SENIOR ADMINISTRATORS' COMPENSATION. THE CFO PROVIDES SALARY HISTORY AND COMPARISONS FROM ABOPS AND/OR NACUBO OR OTHER THIRD PARTY SOURCES TO THE COMMITTEE FOR THE HEADMASTER AND SENIOR ADMINISTRATORS AND MAKES A RECOMMENDATION OF INCREASES BASED ON FACULTY COMPENSATION POOL (PERCENT OF INCREASE). FROM TIME-TO-TIME, A PRIVATE CONSULTANT IS CONTRACTED TO PERFORM INDEPENDENT ANALYSIS OF COMPENSATION PACKAGES AND ENSURE COMPLIANCE WITH IRS REGULATIONS OF THE INTERMEDIATE SANCTIONS ACT AND REBUTTABLE PRESUMPTION OF REASONABLENESS TESTS. THE COMPENSATION COMMITTEE ALSO OVERSEES CONTRACT/SALARY NEGOTIATIONS WITH THE HEADMASTER'S SPOUSE. Form 990, Part VI, Section C, line 19 THE SCHOOL ANNUALLY POSTS ITS AUDITED FINANCIAL STATEMENTS ON ITS WEBSITE, WWW.CHOATE.EDU. THE SCHOOL DOES NOT MAKE ITS GOVERNING DOCUMENTS OR ITS CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. FOUNDATION FOR A GREATER OPPORTUNITY 767 FIFTH AVENUE NEW YORK NY 10153 133913393 FUNDING SCHOLARSHIPS NY 501(C)(3) 509(A)(3) N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 FOUNDATION FOR A GREATER OPPORTUNITY C 402208