2024-05-06T12:19:23-05:00 2023-06-30 871353108 EISNER ADVISORY GROUP LLC 733 THIRD AVENUE NEW YORK NY 100172703 990 2022-07-01 131623919 THE CALHOUN SCHOOL CALH 2124976500 433 WEST END AVENUE NEW YORK NY 10024 VICTOR CATANO DIRECTOR OF FINANCE 2124976500 2024-05-06 1 VICTOR CATANO 999009999 0 CANDICE METH P01306891 2129498700 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z STEVEN SOLNICK 433 WEST END AVENUE NEW YORK NY 10024 68524981 0 X WWW.CALHOUN.ORG X 1941 NY THE CALHOUN SCHOOL IS A PROGRESSIVE, INDEPENDENT, COEDUCATIONAL (CONTINUED IN SCHEDULE O)COLLEGE PREPARATORY SCHOOL WITH STUDENTS RANGING FROM THREE-YEAR-OLDS TO TWELFTH GRADERS. 21 21 269 330 0 0 3851552 6364033 33633467 34323405 314829 10203803 0 0 37799848 50891241 10481975 11740393 0 0 22496405 22125527 0 0 723258 7533703 8785459 40512083 42651379 -2712235 8239862 61917604 80165719 40310489 43634252 21607115 36531467 X THE CALHOUN SCHOOL IS A PROGRESSIVE, INDEPENDENT, COEDUCATIONAL COLLEGE PREPARATORY SCHOOL WITH APPROXIMATELY 664 STUDENTS, RANGING FROM THREE-YEAR-OLDS TO TWELFTH GRADERS. 1 0 32532132 11740393 34323405 CALHOUN'S GOAL IS TO INSPIRE A PASSION FOR LEARNING THROUGH A PROGRESSIVE APPROACH TO EDUCATION THAT VALUES INTELLECTUAL PURSUIT, CREATIVITY, DIVERSITY, AND COMMUNITY INVOLVEMENT. 32532132 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 0 1 0 0 0 0 0 1 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 66 0 1 269 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X VICTOR CATANO 2124976500 433 WEST END AVENUE NEW YORK NY 10024 ALEXEI NICHOLS TRUSTEE 2.00 0.00 X 0 0 0 CHRISTINE TAYLOR TRUSTEE 2.00 0.00 X 0 0 0 CLAUDIA SINGLETON TRUSTEE 2.00 0.00 X 0 0 0 DALE ALLSOPP TRUSTEE (THRU 07/22) 2.00 0.00 X 0 0 0 DYLAN HIXON VICE CHAIR/TREASURER 2.00 0.00 X X 0 0 0 EDWARD NEWMAN TRUSTEE 2.00 0.00 X 0 0 0 HANH LIVINGSTON TRUSTEE 2.00 0.00 X 0 0 0 JAY SUGARMAN TRUSTEE (THRU 07/22) 2.00 0.00 X 0 0 0 JENNIFER JONES TRUSTEE AS OF 07/22 2.00 0.00 X 0 0 0 JENNIFER KURLAND TRUSTEE 2.00 0.00 X 0 0 0 JIM GLASGOW TRUSTEE 2.00 0.00 X 0 0 0 JOEL DENNY TRUSTEE (THRU 6/19/23) 2.00 0.00 X 0 0 0 JOHN WANG TRUSTEE 2.00 0.00 X 0 0 0 JON BRAYSHAW CHAIR 2.00 0.00 X X 0 0 0 KAREN GREENE SECRETARY 2.00 0.00 X X 0 0 0 KENDALL VIDAL TRUSTEE AS OF 07/22 2.00 0.00 X 0 0 0 KERN SCHIRESON TRUSTEE AS OF 07/22 2.00 0.00 X 0 0 0 LEIGH GERSTENBLATT TRUSTEE AS OF 07/22 2.00 0.00 X 0 0 0 LETISHA GARY TRUSTEE 2.00 0.00 X 0 0 0 LOUISE LITT TRUSTEE 2.00 0.00 X 0 0 0 MARGARET SPENCER TRUSTEE 2.00 0.00 X 0 0 0 SCOTT HIRSCH TRUSTEE 2.00 0.00 X 0 0 0 TERRY HAAS TRUSTEE 2.00 0.00 X 0 0 0 WALTER LEVITCH TRUSTEE 2.00 0.00 X 0 0 0 STEVEN SOLNICK HEAD OF SCHOOL 40.00 0.00 X 749119 0 61645 DOROTHY LAMONACA DIRECTOR OF FINANCE (THRU 01/23) 40.00 0.00 X 248308 0 6335 VICTOR CATANO DIRECTOR OF FINANCE AS OF 01/23 40.00 0.00 X 0 0 0 ERIC OSORIO ASSOCIATE HEAD OF SCHOOL FOR TEACHING AND LEARNING 40.00 0.00 X 221536 0 23773 DANIEL ISQUITH DIRECTOR OF UPPER SCHOOL 40.00 0.00 X 190260 0 23011 ALLISON ROTHSCHILD DIRECTOR OF LOWER SCHOOL- EARLY CHILDHOOD 40.00 0.00 X 193028 0 14440 LISA BIANCHI MERRITT DIR. OF COLLEGE COUNSELING 40.00 0.00 X 175927 0 35695 ANDREW HUME DIRECTOR OF ENROLLMENT 40.00 0.00 X 178721 0 21197 ANDREA SOLOMON-GUTIERREZ DIRECTOR OF MIDDLE SCHOOL 40.00 0.00 X 171265 0 12807 2128164 0 198903 10 0 1 0 EMERALD SERVICES INC ONE FAIRCHILD COURT SUITE 100 PLAINVIEW NY 11803 MAINTEANCE 568458 AFFINECO LLC 855 MAIN ST 900 BRIDGEPORT CT 06604 CLEANING 447086 PERLMAN AND PERLMAN LLP 521 FIRTH AVENUE 30TH FLOOR NEW YORK NY 10175 LEGAL 269672 VERONA CARPENTER ARCHITECTS PLLC 59 HESTER STREET GROUND FLOOR NEW YORK NY 10002 ARCHITECTURE AND INTERIOR DESIGN 209508 ALLIED UNIVERSAL SECURITY SERVICES P O BOX 828854 PHILADELPHIA PA 191828854 SECURITY 181456 6 X 346760 4605916 1411357 315871 6364033 TUITION, ADMISSION, REGISTRATION 611710 33806525 33806525 AFTERSCHOOL PROGRAM 611710 486443 486443 OTHER INCOME 611710 25479 25479 THEATRE PRODUCTIONS INCOME 611710 4958 4958 34323405 364857 364857 13676056 13504225 12145970 5195365 1530086 8308860 9838946 9838946 292405 346760 292405 0 50891241 34323405 0 10203803 11740393 11740393 1405611 1028937 343200 33474 16605829 12155823 4054549 395457 822937 602407 200932 19598 2149341 1573364 524792 51185 1141809 835829 278789 27191 279815 279815 113925 113925 32095 32095 578010 578010 3088998 1662860 1273092 153046 1500382 1200306 300076 762980 762980 1701987 1361590 340397 220681 220681 STUDENT CAFETERIA 463279 370623 92656 CATERING AND ENTERTAINM 43307 43307 42651379 32532132 9395989 723258 1852570 1915015 6057004 1411303 1220661 863169 244346 175149 398531 399647 84724467 30007892 37363122 54716575 14781370 16143202 0 4541659 61917604 80165719 3121499 2463376 8919257 9684251 28269733 31486625 40310489 43634252 X 8147856 21697171 13459259 14834296 21607115 36531467 61917604 80165719 X 8239862 -120103 6804593 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13459259 122692 1707230 560000 14729181 18656449 652756 -2368864 3481082 13459259 15195695 407738 3575831 522815 18656449 16158927 585881 37560 1586673 15195695 15515817 568373 515777 441040 16158927 0.88000 0.12000 0 0 6237227 6237227 70539302 26049110 44490192 4385202 3958782 426420 3562736 3562736 54716575 RECEIVABLE FOR EMPLOYEE RETENTION CREDIT 4541659 4541659 X 38998650 -120103 -120103 39118753 32095 11740393 11772488 50891241 30878891 0 30878891 32095 11740393 11772488 42651379 PART V, LINE 4: THE SCHOOL'S ENDOWMENT GENERATES A PREDICTABLE STREAM OF REVENUE THAT HELPS FUND ITS PROGRAMS, AS WELL AS FUND FINANCIAL AID. PART X, LINE 2: THE SCHOOL IS SUBJECT TO THE PROVISIONS OF THE FINANCIAL ACCOUNTING STANDARDS BOARD'S (THE "FASB") ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, INCOME TAXES, RELATING TO ACCOUNTING AND REPORTING FOR UNCERTAINTY IN INCOME TAXES. DUE TO THE SCHOOL'S GENERAL TAX-EXEMPT STATUS, MANAGEMENT BELIEVES ASC TOPIC 740 HAS NOT HAD, AND IS NOT EXPECTED TO HAVE, A MATERIAL IMPACT ON THE SCHOOL'S FINANCIAL STATEMENTS. PART XI LINE 4B & PART XII LINE 4B FINANCIAL AID OF $11,740,393 NETTED AGAINST REVENUE PER AUDITED FINANCIAL STATEMENTS, INCLUDED IN EXPENSES PER FORM 990. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL IS A MEMBER OF THE INDEPENDENT SCHOOLS ADMISSIONS ASSOCIATION OF GREATER NEW YORK (ISAAGNY). ISAAGNY PUBLISHES ITS RACIALLY NON-DISCRIMINATION POLICY, LISTING EACH MEMBER SCHOOL, EACH YEAR IN THE NY METRO DAILY NEWSPAPER. THE POLICY IS ALSO POSTED ON THE SCHOOL'S WEBSITE. LINE 6 - EXPLANATION OF GOVERNMENT FINANCIAL AID: THE SCHOOL RECEIVED $349,337 OF GOVERNMENT FUNDING FROM THE NEW YORK STATE DEPARTMENT OF EDUCATION. ANNUAL BENEFIT 639165 346760 292405 178252 114153 639165 346760 292405 178252 114153 292405 0 1 FINANCIAL AID PROVIDED TO STUDENTS 291 11740393 FMV TUITION REDUCTION PART I, LINE 2: THE CALHOUN SCHOOL'S FINANCIAL AID COMMITTEE REVIEWS PARENT FINANCIAL STATEMENTS, INCLUDING INDIVIDUAL TAX RETURNS, AND AWARDS STUDENTS SCHOLARSHIPS ON THE BASIS OF FINANCIAL NEED. X 1 1 X X X X 0 1 0 0 0 0 0 0 0 STEVEN SOLNICK HEAD OF SCHOOL 579119 0 0 0 170000 0 40012 0 21633 0 810764 0 0 0 DOROTHY LAMONACA DIRECTOR OF FINANCE (THRU 01/23) 248308 0 0 0 0 0 0 0 6335 0 254643 0 0 0 ERIC OSORIO ASSOCIATE HEAD OF SCHOOL FOR TEACHIN 221536 0 0 0 0 0 17584 0 6189 0 245309 0 0 0 DANIEL ISQUITH DIRECTOR OF UPPER SCHOOL 190260 0 0 0 0 0 14539 0 8472 0 213271 0 0 0 LISA BIANCHI MERRITT DIR. OF COLLEGE COUNSELING 175927 0 0 0 0 0 14001 0 21694 0 211622 0 0 0 ALLISON ROTHSCHILD DIRECTOR OF LOWER SCHOOL- EARLY CHIL 193028 0 0 0 0 0 14440 0 0 0 207468 0 0 0 ANDREW HUME DIRECTOR OF ENROLLMENT 178721 0 0 0 0 0 13527 0 7670 0 199918 0 0 0 ANDREA SOLOMON-GUTIERREZ DIRECTOR OF MIDDLE SCHOOL 171265 0 0 0 0 0 12807 0 0 0 184072 0 0 0 PART I, LINE 1A THE SCHOOL PROVIDED ADDITIONAL BENEFITS TO ITS HEAD OF SCHOOL INCLUDING THE FOLLOWING: HOUSING ALLOWANCE AND DEPENDENT EDUCATION ALLOWANCE. PART I, LINE 3 DETERMINATION OF COMPENSATION: THE SCHOOL HAS AN EXECUTIVE COMMITTEE WHICH SETS THE COMPENSATION FOR THE HEAD OF SCHOOL BASED ON COMPARABLE DATA FROM PEER INSTITUTIONS AND OTHER THIRD-PARTY SOURCES. THE HEAD OF SCHOOL SETS THE COMPENSATION FOR KEY EMPLOYEES ALSO BASED ON COMPARABLE DATA OBTAINED FROM PEER INSTITUTIONS AND OTHER THIRD-PARTY SOURCES. THE HEAD OF SCHOOL HAS A WRITTEN EMPLOYMENT CONTRACT SIGNED BY THE BOARD CHAIRMAN. PART I, LINE 4B THE SCHOOL MAINTAINS A DEFERRED-COMPENSATION PLAN UNDER SECTION 457(B) FOR THE HEAD OF SCHOOL. EMPLOYER CONTRIBUTIONS TO PLAN BY THE SCHOOL WAS $19,512 DURING CALENDAR YEAR 2022. A BUILD NYC RESOURCE CORPORATION 454040561 2013-09-30 32840000 THE CALHOUN SCHOOL PROJECT. 0 0 0 B BUILD NYC RESOURCE CORPORATION 454040561 2015-09-25 17000000 CONSTRUCTION OF SCHOOL BUILDING 0 0 0 A 30295000 32840000 775814 1769186 0 1 1 1 B 2545896 17000000 209602 340000 8774674 7885326 2016 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 0 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 A 1 B 1 FORM 990, SCHEDULE K, PART I, LINE B ON SEPTEMBER 1, 2015, METROPOLITAN MONTESSORI SCHOOL ("MMS") ENTERED INTO A NON-REVOLVING LOAN AGREEMENT WITH THE BANK OF NEW YORK TO REFINANCE ITS THEN OUTSTANDING DEBT AND TO SECURE ADDITIONAL FINANCING FOR THE DEVELOPMENT, CONSTRUCTION, AND EQUIPPING OF THE PROPERTY AT 315 AND 325 WEST 85TH STREET. THE LOAN, IN THE PRINCIPAL AMOUNT OF $17,000,000, IS COLLATERALIZED BY THE PROPERTY. THE LOAN WAS FINANCED THROUGH A TAX-EXEMPT BOND APPROVED BY CERTAIN GOVERNMENTAL ENTITIES AND MMS, WHICH WAS DESIGNATED THE BUILD NYC RESOURCE CORPORATION REFUNDING AND IMPROVEMENT REVENUE BONDS, SERIES 2015. THE LOAN REQUIRED MONTHLY PAYMENTS OF PRINCIPAL AND INTEREST AT THE FIXED RATE OF 3.63% PER ANNUM AND MATURES ON OCTOBER 1, 2040. AS OF JUNE 30, 2023, THE OUTSTANDING BALANCE OF THE LOAN WAS $4,648,723 NET OF $351,277 OF DEFERRED FINANCING COST. ON JUNE 30, 2023, THE LOAN WAS TRANSFERRED TO THE CALHOUN SCHOOL AS THE SURVIVING ENTITY OF THE MERGER THAT BECAME EFFECTIVE JUNE 30, 2023. X 12 137619 PUBLISHED MARKET QUOTES. X SEE PART II 176 178252 COMPARABLE SALES 0 1 1 PART I, COLUMN (B): THE SCHOOL RECEIVED DONATIONS OF STOCK SECURITIES FROM 12 DONORS DURING FISCAL YEAR 2023. OTHER NONCASH CONTRIBUTIONS THERE WERE 176 ITEMS DONATED FOR AUCTION WHICH WERE RECORDED AT FAIR VALUE TOTALING $178,252. PART I, LINE 32B: AN AUCTIONEER WAS HIRED WITH FIXED FEE FOR THE ANNUAL BENEFIT EVENT. FORM 990, PART III, LINE 2 METROPOLITAN MONTESSORI SCHOOL ("MMS") WAS A NOT-FOR-PROFIT CORPORATION CHARTERED BY THE REGENTS OF THE UNIVERSITY OF THE STATE OF NEW YORK EDUCATION DEPARTMENT ON MARCH 31, 1967, FOR THE PURPOSE OF PROVIDING EDUCATION AND LEARNING DEVELOPMENT TO CHILDREN. ON OCTOBER 7, 2022, THE SCHOOL AND MMS ENTERED INTO A MERGER AGREEMENT. THE SCHOOL WAS THE SURVIVING ENTITY AND MMS CEASED TO EXIST AS A SEPARATE LEGAL ENTITY. THE MERGER WAS EFFECTIVE ON JUNE 30, 2023. MMS'S ASSETS, LIABILITIES AND NET ASSETS WERE TRANSFERRED, AT FAIR VALUE AT THE DATE OF MERGER, TO THE SCHOOL IN THE NET AMOUNT OF $6,804,593. FORM 990, PART VI, SECTION B, LINE 11B THE FULL BOARD IS GIVEN A COPY OF THE FORM 990 AND RELATED SCHEDULES FOR THEIR REVIEW. QUESTIONS AND COMMENTS FROM ANY TRUSTEE ARE ADDRESSED PRIOR TO THE SUBMISSION OF THE FORM 990 TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL HAS A CONFLICT OF INTEREST POLICY THAT IS SIGNED ANNUALLY BY KEY EMPLOYEES AND MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL HAS AN EXECUTIVE COMMITTEE WHICH SETS THE COMPENSATION FOR THE HEAD OF SCHOOL BASED ON COMPARABLE DATA FROM PEER INSTITUTIONS AND OTHER THIRD-PARTY SOURCES. THE HEAD OF SCHOOL SETS THE COMPENSATION FOR KEY EMPLOYEES ALSO BASED ON COMPARABLE DATA OBTAINED FROM PEER INSTITUTIONS AND OTHER THIRD-PARTY SOURCES. THE HEAD OF SCHOOL HAS A WRITTEN EMPLOYMENT CONTRACT SIGNED BY THE CHAIRMAN OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS 990 AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST, OR THE 990 CAN ALSO BE OBTAINED THROUGH GUIDESTAR.ORG (NOW CALLED CANDID). THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE DISTRIBUTED INTERNALLY AND ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 9990. PART VIII, LINE 7C(II) ON JUNE 30, 2023, THE SCHOOL SOLD ITS PROPERTY LOCATED ON WEST 74TH STREET RESULTING IN A GAIN ON THE SALE OF APPROXIMATELY $8,309,000. THE PROCEEDS FROM THE SALE WERE USED TO PAY DOWN A PORTION OF THE SCHOOL'S DEBT AND MMS'S DEBT. FORM 990, PART XI, LINE 9: CONTRIBUTION FROM MERGER 6,804,593.