2011-02-14T09:41:25-06:00 2010-06-30 MELANSON HEATH & COMPANY PC 102 PERIMETER ROAD NASHUA NH 030631301 990 2009-07-01 030179305 PUTNEY SCHOOL INC PUTN 8023875566 ELM LEA FARM 418 HOUGHTON BROOK ROAD PUTNEY VT 05346 RANDALL D SMITH 8023876245 2011-02-08 1 Sheryl L Stephens-Burke CPA 6038821111 2011-02-07 2009 2016-02-24 21:20:13Z MATTHEW LORENTZEN ELM LEA FARM 418 HOUGHTON BROOK ROAD PUTNEY VT 05346 21342040 0 X WWW.PUTNEY.COM X 1935 VT INDEPENDENT, COEDUCATIONAL BOARDING AND DAY SECONDARY SCHOOL 30 24 213 17 0 0 1477461 1684957 9261893 9664734 -1444769 23624 85724 97774 9380309 11471089 2148045 2481200 0 5224566 5367234 0 578607 3885430 3622537 11258041 11470971 -1877732 118 38762304 36302170 7314081 3802812 31448223 32499358 THE ORGANIZATION IS COMMITTED TO DEVELOPING EACH STUDENT'S FULL INTELLECTUAL, ARTISTIC AND PHYSICAL POTENTIAL. STUDENTS ARE ENCOURAGED TO CHALLENGE THEMSELVES INTELLECTUALLY, TO PURSUE RIGOROUS LEARNING FOR ITS OWN SAKE, TO ACTIVELY PARTICIPATE IN AND APPRECIATE THE ARTS, TO CONTRIBUTE MEANINGFULLY TO THE WORK PROGRAM THAT SUSTAINS THE SCHOOL COMMUNITY AND THE FARM ON WHICH IT IS LOCATED, TO ENGAGE IN VIGOROUS ATHLETICS, AND TO DEVELOP A SOCIAL CONSCIOUSNESS AND WORLD VIEW THAT WILL PROVIDE THE FOUNDATION FOR LIFE-LONG MORAL AND INTELLECTUAL GROWTH. (ADOPTED 06/08/97) 0 0 8278548 2481200 9587576 THE PUTNEY SCHOOL PROVIDES AN EDUCATIONAL PROGRAM FOR APPROXIMATELY 225 HIGH SCHOOL STUDENTS IN A COEDUCATIONAL BOARDING SCHOOL SETTING. 169446 77158 FARM AND LAND USE PROGRAM CURRENTLY INVOLVES OVER SIXTY STUDENTS. THE STUDENTS ARE ENGAGED IN ALL ASPECTS OF THE DIVERSIFIED FARM, INCLUDING MILKING AND CARING FOR DAIRY CATTLE, FORAGE CROP PRODUCTION, GARDENING, OTHER LIVESTOCK CARE, SUGARING AND FIRE WOOD PROCESSING. 8447994 1 1 0 0 0 0 1 0 1 1 1 0 1 0 0 0 1 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 64 0 213 1 0 0 0 0 0 0 0 30 24 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X RANDALL D SMITH CFO 8023876245 PUTNEY SCHOOL ELM LEA FARM PUTNEY VT 05346 MATTHEW LORENTZEN 1.00 X 0 0 0 WILFREDO BENITEZ 1.00 X 0 0 0 JUDD BURSTEIN 1.00 X 0 0 0 JILL CARR 1.00 X 0 0 0 LEE COMBRINCK-GRAHAM 1.00 X 0 0 0 TIM DALY 1.00 X 0 0 0 JOAN FARR 1.00 X 0 0 0 JOSHUA GOLDBERG 1.00 X 0 0 0 GEORGE HELLER 1.00 X 0 0 0 MARGARET JEMISON 1.00 X 0 0 0 LENA JORDE 1.00 X 0 0 0 PEGGY KING JORDE 1.00 X 0 0 0 WILLIAM KELLETT 1.00 X 0 0 0 RYAN KIM 1.00 X 0 0 0 CHRISTOPHER LEHMANN-HAUP 1.00 X 0 0 0 GLEN LITTLEDALE 1.00 X 0 0 0 WILLIAM NEW 1.00 X 0 0 0 FRANZ PAASCHE 1.00 X 0 0 0 LIES PASTERKAMP 1.00 X 0 0 0 PETER PEREIRA 1.00 X 0 0 0 ROBERT RAYNOLDS 1.00 X 0 0 0 MARNI ROSNER 1.00 X 0 0 0 ALEXANDER ROWER 1.00 X 0 0 0 MARY ROWER 1.00 X 0 0 0 KATHERINE SAILER 1.00 X 0 0 0 ANNE STEPHENS 1.00 X 0 0 0 JAMES THOMPSON 1.00 X 0 0 0 IRA WENDER 1.00 X 0 0 0 TONIA WHEELER 1.00 X 0 0 0 EMILY JONES 40.00 X 150188 0 6286 RANDALL SMITH 40.00 X 75811 0 6173 225999 0 12459 1 0 1 0 DEW CONSTRUCTION CORP 277 BLAIR PARK ROAD WILLISTON VT 05495 CONSTRUCTION COMPANY 2477939 FITZ VOGT & ASSOCIATES PO BOX 415512 BOSTON MA 02241 CONTRACTED DINING SERVICES 553421 2 1684957 538184 1684957 TUITION AND FEES 900099 9587576 9587576 FARM INCOME 900099 77158 77158 9664734 249914 249914 9644661 9870951 -226290 -226290 0 -226290 OTHER REVENUE 611710 97774 97774 97774 11471089 9664734 0 121398 2358300 2358300 122900 122900 279237 279237 3955226 3108989 482503 363734 267738 197800 46606 23332 508445 409982 67994 30469 356588 279248 50650 26690 1000 1000 37998 37998 76909 76909 24674 24674 31591 31591 155735 44165 82845 28725 90407 52956 37451 691921 691921 52187 562 12628 38997 3492 2809 645 38 128742 128466 276 808363 808363 164137 164137 RESIDENTIAL EXPENSES 466229 466229 INSTRUCTIONAL EXPENSES 311214 311214 LEADERSHIP AND BUSINESS 200356 200356 LAND USE EXPENSES 169446 169446 ALUMNI RELATIONS AND DE 66622 66622 141514 103007 38507 11470971 8447994 2444370 578607 2874395 4564110 5126124 315031 198551 87626 77422 106202 118748 28859762 10522109 15933754 18337653 14227158 12937843 92014 67843 38762304 36302170 777166 400751 2135196 1834939 4290873 1500000 110846 67122 7314081 3802812 X 18317279 19745227 4690971 4163639 8439973 8590492 31448223 32499358 38762304 36302170 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 0 19308326 931039 1054830 6297832 14996363 24716848 722413 -2087253 4043682 19308326 0.15000 0.28000 0.57000 0 0 93652 93652 25779181 7778915 18000266 2986929 2743194 243735 18337653 OTHER LIABILITIES 67122 67122 11471089 11470971 118 1051017 1051017 1051135 10040906 1051017 1051017 8989889 2481200 2481200 11471089 8989771 0 8989771 2481200 2481200 11470971 Part III, Line 1a: COLLECTIONS: THE SCHOOL'S COLLECTION IS COMPRISED OF VARIOUS ART OBJECTS THAT ARE HELD FOR EDUCATIONAL AND CURATORIAL PURPOSES. THE SCHOOL IS CURRENTLY IN THE PROCESS OF CATALOGING EACH PIECE. EACH ITEM IS CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION, ARE PERFORMED REGULARLY. THE SCHOOL HAS NOT ADOPTED A POLICY TO CAPITALIZE ITS COLLECTIONS; THEREFORE, IN ACCORDANCE WITH FASB 116, CONTRIBUTIONS OF ARTWORK ARE NOT RECOGNIZED IN REVENUE. IN THE EVENT OF THE SALE OF CONTIBUTED ARTWORK, THE SCHOOL RECOGNIZES THE PROCEEDS AND INCREASES THE APPROPRIATE CLASS OF NET ASSETS. Part XII, Line 4b - Other Adjustments: TUITION REDUCED BY FINANCIAL AID: 2481200. Part XIII, Line 4b - Other Adjustments: FINANCIAL AID REDUCTIONS AGAINST TUITION: 2481200. 1 1 1 THE POLICY IS STATED IN LITERATURE AND BROCHURES PROVIDED TO ALL CURRENT AND POTENTIAL STUDENTS. IT IS ALSO PUBLISHED IN LOCAL NEWSPAPERS AND ON THE SCHOOL'S WEBSITE. 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 FINANCIAL AID GIVEN BY THE ORGANIZATION TO FOREIGN STUDENTS ATTENDING THE SCHOOL. BERMUDA 1 27900 REDUCTION IN TUITION FOR STUDENTS WHO QUALIFY FOR FINANCIAL AID. FMV FINANCIAL AID GIVEN BY THE ORGANIZATION TO FOREIGN STUDENTS ATTENDING THE SCHOOL. ANTIGUA 1 22500 REDUCTION IN TUITION FOR STUDENTS WHO QUALIFY FOR FINANCIAL AID. FMV FINANCIAL AID GIVEN BY THE ORGANIZATION TO FOREIGN STUDENTS ATTENDING THE SCHOOL. SLOVAK REPUBLIC 1 42500 REDUCTION IN TUITION FOR STUDENTS WHO QUALIFY FOR FINANCIAL AID. FMV FINANCIAL AID GIVEN BY THE ORGANIZATION TO FOREIGN STUDENTS ATTENDING THE SCHOOL. SENEGAL 1 30000 REDUCTION IN TUITION FOR STUDENTS WHO QUALIFY FOR FINANCIAL AID. FMV 0 FIANCIAL AID GIVEN BY THE ORGANIZATION TO STUDENTS ATTENDING THE SCHOOL. 101 2358300 FMV REDUCTION IN TUITION FOR STUDENTS WHO QUALIFY FOR FINANCIAL AID. X 0 0 0 0 0 0 0 0 0 EMILY JONES 150188 0 0 0 0 0 489 0 5797 0 156474 0 0 0 JP MORGAN CHASE BANK (REGISTERED OWNER) 2009-07-31 1500000 REFINANCE ITS LINE OF CREDIT 0 0 1500000 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 538184 FAIR MARKET VALUE 0 1 0 Form 990, Part VI, Section A, line 2 Lena Jorde is Peggy King-Jorde's daughter. Alexander Rower is Mary Rower's son. Marni Rosner is not independent because she owns the land that the school uses and pays her rent for. Emily Jones is the Head of School and is therefore not independent. Glen Littledale and Lies Pasterkamp are faculty trustees and are therefore not independent. Lena Jorde and Ryan Kim are student representatives and are therefore not independent. Form 990, Part VI, Section B, line 11 THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER AND CONTROLLER AND IS THEN PRESENTED TO THE AUDIT, FINANCE AND EXECUTIVE COMMITTEES FOR APPROVAL BEFORE FILING. Form 990, Part VI, Section B, line 12c THE ORGANIZATION REVIEWS THE POLICY EACH YEAR. Form 990, Part VI, Section B, line 15a THE DIRECTOR'S SALARY IS DETERMINED AND APPROVED BY THE EXECUTIVE AND AUDIT COMMITTEES OF THE BOARD AND IS AVAILABLE FOR REVIEW BY ANY SCHOOL BOARD MEMBER. EXECUTIVE COMPENSATION FOR ALL EMPLOYEES, OTHER THEN THE DIRECTOR, IS SET BY SCHOOL MANANGEMENT. MANAGEMENT INCREASES ARE TIED TO STAFF AND FACULTY INCREASES. FACULTY AND STAFF INCREASES ARE SET AT A PERCENTAGE EACH YEAR BY THE BOARD. THERE IS ALSO A SCALE ASSOCIATED WITH TIME SERVED FOR FACULTY. TO SET SALARIES, A COMPARISION IS DONE BETWEEN SIMILAR POSITIONS AT SCHOOLS IN THE INDEPENDENT SCHOOL ASSOCIATION OF NORTHERN NEW ENGLAND (ISANNE). OUR GOAL IS TO HAVE MANAGEMENT AT OR NEAR THE MEDIAN OF THEIR PEER GROUP. Form 990, Part VI, Section C, line 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, QUESTION 2C: THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT HAS OVERSIGHT OF THE AUDIT THAT IS PERFORMED EACH YEAR. THIS HAS NOT CHANGED FROM THE PRIOR YEAR.