2011-05-16T13:17:30-05:00 2010-06-30 Tonneson & Company CPAs PC 401 Edgewater Place Suite 300 Wakefield MA 018806208 990 2009-07-01 042104824 Park School Corporation PARK 6172772456 171 Goddard Avenue Brookline MA 02445 Martin Mannion 6172772456 2011-04-12 1 Cynthia P Almquist 7812459999 2011-04-06 2009 2016-02-24 21:20:13Z Martin Mannion 171 Goddard Avenue Brookline MA 02445 20991870 0 X www.parkschool.org X 1923 MA Refer to Schedule O, Page 53The Park School is dedicated to excellence in education.The cornerstone of Park's program is academic excellence combining both high standards of scholarship and the encouragement of each child to develop to his or her greatest potential. The School provides a nurturing environment in which children can develop curiosity, express creativity, appreciate the value of hard work and discipline, and experience the joy of learning. Park's faculty encourages individual students to strive for intellectual, physical and moral growth, and to become contributing members of the community.Park is committed to being a metropolitan, coeducational, day school of diverse races, religions, cultures, and backgrounds. Central to its mission is an appreciation of similarities and differences of perspective and the interdependence of all people. As a family school, Park is a community in which the dignity of each child, teacher, and parent is respected. 24 24 334 100 0 0 3115390 4303671 15413837 16205924 383562 126804 332848 334510 19245637 20970909 2355205 2531730 0 12393484 12760279 47846 6721 650356 6145579 5818284 20942114 21117014 -1696477 -146105 66074886 72592423 24709519 27723530 41365367 44868893 Refer to Schedule O, Page 53 0 0 15355849 2246590 13648090 Park School provides an exceptional independent education to approximately 550 boys and girls enrolled from pre-kindergarten through ninth grade. 2190766 285140 2557834 Summer and After-School Programs - Creative Arts at Park is a 5 week camp where children ages 7 to 15 can explore the full range of visual and performing arts. Summer at Park is an ACA-accredited camp for children ages 4 to 15. Campers can participate in a wide variety of programs of varying duration throughout the summer. After-school programs provide enriching, extended school hours for those childen who enroll. 17546615 1 1 0 0 0 1 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 53 0 1 334 1 0 0 0 0 0 1 1 0 0 0 0 0 24 24 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X Kimberly Rothrock 6172772456 171 Goddard Avenue Brookline MA 02445 Kevin Maroni 5.00 X X 0 0 0 Paula A Johnson 5.00 X 0 0 0 Richard Banks 5.00 X 0 0 0 Martin Mannion 5.00 X 0 0 0 Marcus Cherry 3.50 X 0 0 0 Teresa Chope 3.50 X 0 0 0 John Connaughton 3.50 X 0 0 0 William Drucker 3.50 X 0 0 0 Richard Edie 3.50 X 0 0 0 Lisa Black Franks 3.50 X 0 0 0 Abigail Johnson 3.50 X 0 0 0 Heidi Johnson 3.50 X 0 0 0 Brian Kavoogian 3.50 X 0 0 0 Patti Kraft 3.50 X 0 0 0 Anne Punzak Marcus 3.50 X 0 0 0 Stuart Mathews 3.50 X 0 0 0 Amy Lloyd McCarthy 3.50 X 0 0 0 Pamela McLaurin 3.50 X 0 0 0 Nicole Murray 3.50 X 0 0 0 Peter Riehl 3.50 X 0 0 0 Happy Rowe 3.50 X 0 0 0 Carmel Shields 3.50 X 0 0 0 Garrett Solomon 3.50 X 0 0 0 Harold Sparrow 3.50 X 0 0 0 Suzie Tapson 3.50 X 0 0 0 Lanny Thorndike 3.50 X 0 0 0 Ralph Wales 3.50 X 0 0 0 Jerrold Katz 40.00 X X 274380 0 73966 Jane Carney 40.00 X X 139989 0 19907 Cynthia Harmon 40.00 X X 141593 0 13278 Thomas Smith 40.00 X 143274 0 8850 Robert Crawford 40.00 X 127365 0 22233 Merle Jacobs 40.00 X 112500 0 14344 Andrew Segar 40.00 X 111476 0 21419 Mary Russell 40.00 X 107457 0 21211 1158034 0 195208 12 0 1 0 Brock and Company Inc 257 Great Valley Parkway Malvern PA 19355 Food Service Provider 582773 Local Motion 668 Rocsam Park Road Braintree MA 02184 Transportation Service 141664 2 4303671 236582 4303671 Tuition 611600 13648090 13648090 After School and Summe 611600 2557834 2557834 16205924 117800 117800 223190 20961 202229 202229 202229 9004 9004 9004 Miscellaneous Revenue 900099 132281 132281 132281 20970909 16338205 0 329033 2531730 2531730 675344 675344 9560308 7815865 1303229 441214 385706 306524 57550 21632 1381276 1207873 134601 38802 757645 597614 126335 33696 36391 36391 28194 28194 6721 6721 159392 159392 101783 38622 63161 104226 48256 49870 6100 745235 620673 108484 16078 10051 10051 496854 496854 171813 171813 160394 119101 41293 922312 922312 1690745 1690745 66464 46001 20463 Food service 508795 508795 Repairs and maintenance 279833 279833 Miscellaneous expenses 243604 144004 88991 10609 Events 75504 75504 Dues and subscriptions 16694 16694 21117014 17546615 2920043 650356 2539193 6305569 4438518 3700144 69112 96366 869992 1009929 42853758 12255502 31956217 30598256 24460475 29019950 1206815 1324179 434564 418030 100000 120000 66074886 72592423 1269605 1614522 3662468 6309509 19769266 19778610 8180 20889 24709519 27723530 X 27806560 30466761 7167165 6429208 6391642 7972924 41365367 44868893 66074886 72592423 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 2 1.62 0 0 0 1 0 80.00 15000 0 24019363 3388930 3615513 2229874 28793932 32642620 416230 -7444487 1595000 24019363 0.62930 0.27270 0.09800 0 0 947982 947982 35181228 7510321 27670907 4688352 3480928 1207424 2036196 1264253 771943 30598256 Deferred Compensation 20889 20889 20970909 21117014 -146105 3649631 3649631 3503526 21950379 3649631 20961 3670592 18279787 159392 2531730 2691122 20970909 18446853 20961 20961 18425892 159392 2531730 2691122 21117014 Part II, Line 9: Description of How Organization Reports Conservation Easements: Conservation easements are included in property and equipment on the School's June 30, 2010 Statement of Financial Position. There were no new conservation easements during the fiscal year ending June 30, 2010. 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 XII, Line 2d - Other Adjustments: Rental Expenses: 20961. Part XII, Line 4b - Other Adjustments: Financial Aid - Tuition: 2246590. Financial Aid - After School and Summer Programs: 285140. Part XIII, Line 2d - Other Adjustments: Rental Expenses: 20961. Part XIII, Line 4b - Other Adjustments: Financial Aid - Tuition: 2246590. Financial Aid - After School and Summer Programs: 285140. 1 1 1 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 210 2531730 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 SSS, School and Student Service, to help determine a family's ability to pay school costs. SSS is owned by the National Association of Independent Schools and is used by over 2,300 K-12 schools. This service and process helps ensure that all schools use the same methods and objective procedures in evaluating an applicant's application. Total financial aid is approved by the Board of Trustees. The Head of School approves all individual financial aid recipients. X X X X 0 0 0 0 0 0 0 0 0 Jerrold Katz 274380 0 0 0 0 0 26500 0 47466 0 348346 0 0 0 Jane Carney 139989 0 0 0 0 0 0 0 19907 0 159896 0 0 0 Cynthia Harmon 141593 0 0 0 0 0 0 0 13278 0 154871 0 0 0 Thomas Smith 143274 0 0 0 0 0 0 0 8850 0 152124 0 0 0 Massachusetts Development Finance Agency 043431814 57583F5N7 2004-08-18 10585000 Finance construction costs 0 0 Massachusetts Development Finance Agency 043431814 57583RKA2 2007-02-21 9435000 Finance construction costs 0 0 10503615 260062 10243553 0 0 1 1 9253762 249549 9004213 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 1 0 0 0 0 1 1 0 0 0 0 1 X 14 236582 Market value 0 0 0 Form 990, Part VI, Section A, line 7a All parents of children in attendance at The Park School are members of the Corporation during such period of attendance. The members of the Corporation at their annual meeting elect the Board of Trustees, the Treasurer, and the Secretary of the Corporation. Form 990, Part VI, Section B, line 11 The School's Treasurer and Assistant Head for Finance and Operations 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 Chairman of the Board, Treasurer, Audit Committee Chair, Head of School and Assistant Head for Finance and Operations performed a detailed review of the completed 990 and reported the results of its review to the Board of Trustees. The Board of Trustees then voted to approve the Form 990. Form 990, Part VI, Section B, line 12c Each member of the Board of Trustees is required to disclose at the first Board Meeting of each year 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 "Annual Statement Regarding Conflict of Interest" at any time during the year that the information requested on the form changes. The administration and maintenance of the "Annual Statement Regarding Conflict of Interest" shall be the responsibility of the Chairman of the Board of Trustees, or his/her designee. Form 990, Part VI, Section B, line 15 The Committee on Trustees initially determines compensation for the Head of School and reviews compensation for other key employees based on benchmarking with area peer schools. Proposed compensation is then reviewed and approved by the entire Board of Trustees. 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 Attorney General's office/website. Additionally, the financial statements are available to the public on the Electronic Municipal Market Access website.