2023-03-16T08:05:18-05:00 2022-06-30 381357951 PLANTE & MORAN PLLC 10 S RIVERSIDE PLAZA 9TH FLOOR CHICAGO IL 60606 990 2021-07-01 362216167 LAKE FOREST ACADEMY LAKE 8476153213 1500 WEST KENNEDY ROAD LAKE FOREST IL 60045 MICHAEL J REIDY CHIEF FINANCIAL OFFICER 8476153213 2023-03-14 1 MICHAEL REIDY 999009999 KIMBERLY A HAUMANN P00546491 3122071040 2023-03-07 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z CHRIS TENNYSON 1500 WEST KENNEDY ROAD LAKE FOREST IL 60045 55184401 0 X WWW.LFANET.ORG X 1857 IL EDUCATIONAL PROGRAM - INDEPENDENT COLLEGE PREPARATORY SCHOOL. 33 31 224 312 1704337 0 7217647 4730274 23607249 25571760 1607696 2761660 475576 1731828 32908168 34795522 6262098 6031239 0 0 12934833 14382921 0 0 2173347 13792501 13696557 32989432 34110717 -81264 684805 116077407 113447241 39236275 38146433 76841132 75300808 X LAKE FOREST ACADEMY STRIVES TO EMBODY IN ITS PRACTICES - AND TO CULTIVATE IN ITS STUDENTS - EXCELLENCE OF CHARACTER, SCHOLARSHIP, CITIZENSHIP, AND RESPONSIBILITY. 0 0 25540145 6031239 25637269 LAKE FOREST ACADEMY "LFA" WAS ESTABLISHED IN 1857 AS THE BOYS' PREPARATORY DEPARTMENT OF LIND UNIVERSITY. THE GIRLS' PREPARATORY DEPARTMENT, FERRY HALL, WAS ADDED 1869. IN 1925, LFA AND FERRY HALL LEGALLY SEPARATED FROM THE UNIVERSITY TO BECOME SECONDARY EDUCATIONAL INSTITUTIONS. IN 1974, THE TWO SCHOOLS MERGED INTO A CO-EDUCATIONAL INDEPENDENT SCHOOL. TODAY'S LFA IS HOME TO 435 STUDENTS FROM 15 STATES AND 35 COUNTRIES WHERE 47% ARE BOARDERS. LFA OPERATES AS A BOARDING SCHOOL WITH 70% OF THE FACULTY RESIDING ON CAMPUS. LFA'S 150-ACRE CAMPUS IS ON THE FORMER ESTATE OF J. OGDEN ARMOUR AND NOW CONSISTS OF A COMPLEMENTARY MIX OF HISTORICAL AND MODERN BUILDINGS.LFA'S 2019 STRATEGIC PLAN, "MIDWESTERN HEART. GLOBAL MIND.", FOCUSES ON PROGRAM SERVICE ACCOMPLISHMENTS: DEVELOPING GLOBAL CITIZENS THROUGH UNIQUE EDUCATIONAL EXPERIENCES WITHIN A DIVERSE AND CARING COMMUNITY. THE ADMINISTRATION AND FACULTY ARE FOCUSED ON WORKING WITHIN THE FOUR MAIN INITIATIVES - EDUCATIONAL EXPERIENCE, MULTICULTURALISM, MARKETING, AND FINANCIAL STRENGTH.FOR 165 YEARS, LFA HAS STAYED TRUE TO ITS CORE VALUES OF EDUCATING THE INNOVATIVE MINDS OF THE NEXT GENERATION. THE INSTITUTION AND ITS PEOPLE ARE POISED TO ACHIEVE HIGHER LEVELS OF SUCCESS AND LOOK ENTHUSIASTICALLY TOWARD A NEW CHAPTER IN LFA'S HISTORY. 25540145 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 46 0 1 224 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 33 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X MICHAEL J REIDY 8476153213 1500 WEST KENNEDY ROAD LAKE FOREST IL 60045 JOHN S MARLATT CHAIR / TRUSTEE 1.00 0.00 X X 0 0 0 JESSICA P DOUGLAS VICE CHAIR / TRUSTEE 1.00 0.00 X X 0 0 0 RICHARD ZHAO SECRETARY / TRUSTEE 1.00 0.00 X X 0 0 0 CHARLES T COOPER TREASURER / TRUSTEE 1.00 0.00 X X 0 0 0 TODD E ALTOUNIAN TRUSTEE 1.00 0.00 X 0 0 0 BRUCE W ANDERSON TRUSTEE 1.00 0.00 X 0 0 0 SYLVIA BARROS TRUSTEE 1.00 0.00 X 0 0 0 MOLLY PEARSON CAMPBELL TRUSTEE 1.00 0.00 X 0 0 0 PATRICK J CARROLL TRUSTEE 1.00 0.00 X 0 0 0 J PATRICK CORSIGLIA TRUSTEE 1.00 0.00 X 0 0 0 JIM C COWART TRUSTEE 1.00 0.00 X 0 0 0 AHMED FARAG TRUSTEE 1.00 0.00 X 0 0 0 KARIN FINK TRUSTEE 1.00 0.00 X 0 0 0 GREGORY P GLASS TRUSTEE 1.00 0.00 X 0 0 0 HAJI L GLOVER TRUSTEE 1.00 0.00 X 0 0 0 GLORIA W HARPER TRUSTEE 1.00 0.00 X 0 0 0 DUANE C JACKSON TRUSTEE 1.00 0.00 X 0 0 0 NED JESSEN TRUSTEE 1.00 0.00 X 0 0 0 SCOTT W KAESER TRUSTEE 1.00 0.00 X 0 0 0 ALLAN M KAPLAN TRUSTEE 1.00 0.00 X 0 0 0 THOMAS B KELLEY TRUSTEE 1.00 0.00 X 0 0 0 EDWARD KOVAS TRUSTEE 1.00 0.00 X 0 0 0 RUMI KULI TRUSTEE 1.00 0.00 X 0 0 0 SCOTT MELOUN TRUSTEE 1.00 0.00 X 0 0 0 BETHANN MORITZ TRUSTEE 1.00 0.00 X 0 0 0 BANCROFT O'QUINN JR TRUSTEE 1.00 0.00 X 0 0 0 KATHERINE GRAY POLLOCK TRUSTEE 1.00 0.00 X 0 0 0 TATYANA I PRAMATAROVA TRUSTEE 1.00 0.00 X 0 0 0 EMILY SAMMON TRUSTEE 1.00 0.00 X 0 0 0 RAMONA SEQUEIRA TRUSTEE 1.00 0.00 X 0 0 0 AMISH S SHAH TRUSTEE 1.00 0.00 X 0 0 0 MARIANNE SILVER TRUSTEE 1.00 0.00 X 0 0 0 XIONG YIN TRUSTEE 1.00 0.00 X 0 0 0 JOSE M DE JESUS HEAD OF SCHOOL 40.00 0.00 X 547109 0 77996 MICHAEL J REIDY CHIEF FINANCIAL OFFICER 40.00 0.00 X 221450 0 46423 ROBERT J BUCKLA VP FOR ADVANCEMENT 40.00 0.00 X 207294 0 34358 CHRISTOPHER O TENNYSON ASSISTANT HEAD OF SCHOOL 40.00 0.00 X 168615 0 33877 PATRICK FINNESSY ENGLISH DEPARTMENT CHAIR 40.00 0.00 X 155953 0 25605 GARRY SLOAN PLANNED & MAJOR GIFTS OFFICER 40.00 0.00 X 143425 0 36956 DARRIN MADELEY ATHLETIC DIRECTOR 40.00 0.00 X 156903 0 22033 JOTHAM THOMAS JOHNSON DEAN OF FACULTY 40.00 0.00 X 123820 0 35472 CHRISTOPHER KOZLOV DIRECTOR OF IT 40.00 0.00 X 123600 0 30202 JOHN STRUDWICK FORMER HEAD OF SCHOOL 0.00 0.00 X 549219 0 0 2397388 0 342922 15 1 1 0 SODEXO PO BOX 360170 PITTSBURGH PA 152516170 FACILITY MANAGEMENT & CATERING 3231482 ROSALIND FRANKLIN UNIVERSITY OF MEDICINE 3333 GREEN BAY RD NORTH CHICAGO IL 60064 HEALTH 278460 DCG ROOFING SOLUTIONS INC 2045 JANICE AVENUE MELROSE PARK IL 60160 CONSTRUCTION/ROOFING 220097 FIRST POINT MECHANICAL LLC 18 CONGRESS CIRCLE W ROSELLE IL 60172 HVAC 153105 NORTHERN TRUST PO BOX 303 BEDFORD PARK IL 60499 INVESTMENTS 152872 7 1165667 3564607 458412 4730274 TUITION 611600 24331987 24331987 FACILITY RENTAL 531390 1129515 1129515 ACADEMIC FEES & SALES 611600 80318 80318 STUDENT FEES 611600 29940 29940 25571760 1139146 1139146 35237 0 35237 35237 35237 21845886 20219106 4266 1626780 -4266 1622514 1622514 0 1165667 73255 -73255 -73255 150957 92252 58705 58705 CATERED EVENTS 722320 1704337 1704337 MISCELLANEOUS 900099 6804 6804 1711141 34795522 25637269 1704337 2723642 6031239 6031239 1477301 1215629 261672 9463435 7306018 1138632 1018785 913584 695738 132741 85105 1847517 1302877 300291 244349 681084 510442 104970 65672 60685 60685 73391 73391 155910 155910 50350 50350 38866 38866 795431 585055 73654 136722 823309 698989 111970 12350 565948 373778 186051 6119 3015147 2559860 410060 45227 287629 244197 39118 4314 CATERING AND CAFETERIA 2726371 1471592 1140983 113796 FACILITIES CONTRACT 2325510 1974358 316269 34883 SERVICES 1540480 980131 451992 108357 BAD DEBT 229568 229568 1007962 805871 166095 35996 34110717 25540145 6397225 2173347 3919428 1517610 3412556 5255495 3501236 3236857 4458262 5221231 58560 94344 411735 389123 86563807 43293115 45250463 43270692 27133149 28137922 27336771 25693169 595247 630798 116077407 113447241 1769247 1311003 18129250 19410871 16262972 16251236 1968673 857143 1106133 316180 39236275 38146433 X 50013110 46913342 26828022 28387466 76841132 75300808 116077407 113447241 684805 -2225128 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 57893929 2019890 -373718 450000 59090101 43345568 1410573 14187788 1050000 57893929 41861257 2627303 -92992 1050000 43345568 37237883 2783330 2218124 378080 41861257 33322743 2240095 2325045 650000 37237883 0.59913 0.30895 0.09192 1 0 79267 79267 54054457 19717153 34337304 17200849 12464138 4736711 8869002 6949297 1919705 6360232 4162527 2197705 43270692 BANK COMMON TRUST FUNDS 9449422 F PRIVATE EQUITY LIMITED PARTNERSHIPS 16243747 F 25693169 SWAP 316180 316180 26548751 -2225128 165507 -2059621 28608372 154482 6032668 6187150 34795522 28089075 165507 165507 27923568 154482 6032668 6187150 34110718 PART V, LINE 4: THE ENDOWMENT FUND IS INVESTED TO PROVIDE A PREDICTABLE STREAM OF INCOME TO SUPPORT THE SCHOOL'S PROGRAMS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COGS 92,252. FUNDRAISING EXPENSES 73,255. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 6,031,239. WITHHOLDING TAX 1,429. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS 92,252. FUNDRAISING EXPENSES 73,255. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 6,031,239. WITHHOLDING TAX 1,429. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL COMMUNICATES ITS NON-DISCRIMINATION POLICY ON ITS WEBSITE, IN ALL ADMISSION MATERIALS, CATALOGS, VIEWBOOKS, AND IN ALL JOB POSTINGS AND FACULTY RECRUITMENT MATERIALS. AZ CA CO FL GA IA ID IL IN MA MI MT NE NY OH SD TX VA VT WA WI WY GALA AUCTION 1165667 1165667 6772 31851 1428 33204 1165667 1165667 6772 31851 1428 33204 73255 -73255 1 FINANCIAL AID 140 40924 5517315 FMV FREE OR DISCOUNTED TUITION & A STIPEND FOR BOOKS & EDUCATIONAL SUPPLIES TUITION REMISSION 10 473000 FMV FREE TUITION PROVIDED TO CHILDREN OF FACULTY & STAFF PART I, LINE 2: GRANTS TO STUDENTS ARE BASED ON FINANCIAL NEED WHICH IS DETERMINED BY THE SCHOOL SCHOLARSHIP SERVICE. SCHOLARSHIPS TO STUDENTS ARE BASED ON MERIT ONLY (ACADEMIC EXCELLENCE AND EXTRACURRICULAR INVOLVEMENT). CHILDREN OF FACULTY AND STAFF ARE AUTOMATICALLY ELIGIBLE FOR FULL SCHOLARSHIP, BUT MUST MEET THE ADMISSION REQUIREMENTS TO QUALIFY. X X X X 1 1 X X X 0 1 0 0 0 0 0 1 0 JOSE M DE JESUS HEAD OF SCHOOL 386925 0 93750 0 66434 0 29000 0 48996 0 625105 0 0 0 JOHN STRUDWICK FORMER HEAD OF SCHOOL 549219 0 0 0 0 0 0 0 0 0 549219 0 549219 0 MICHAEL J REIDY CHIEF FINANCIAL OFFICER 221450 0 0 0 0 0 22145 0 24278 0 267873 0 0 0 ROBERT J BUCKLA VP FOR ADVANCEMENT 207294 0 0 0 0 0 20729 0 13629 0 241652 0 0 0 CHRISTOPHER O TENNYSON ASSISTANT HEAD OF SCHOOL 160000 0 8615 0 0 0 19200 0 14677 0 202492 0 0 0 PATRICK FINNESSY ENGLISH DEPARTMENT CHAIR 144200 0 11753 0 0 0 7000 0 18605 0 181558 0 0 0 GARRY SLOAN PLANNED & MAJOR GIFTS OFFICER 143425 0 0 0 0 0 14273 0 22683 0 180381 0 0 0 DARRIN MADELEY ATHLETIC DIRECTOR 96858 0 60045 0 0 0 11623 0 10410 0 178936 0 0 0 JOTHAM THOMAS JOHNSON DEAN OF FACULTY 120820 0 3000 0 0 0 12082 0 23390 0 159292 0 0 0 CHRISTOPHER KOZLOV DIRECTOR OF IT 123600 0 0 0 0 0 12360 0 17842 0 153802 0 0 0 PART I, LINE 1A TAX INDEMNIFICATION AND GROSS-UP PAYMENTS HEAD OF SCHOOL - PER EMPLOYMENT CONTRACT (JOSE M. DE JESUS) HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE HEAD OF SCHOOL - PER EMPLOYMENT CONTRACT (JOSE M. DE JESUS) HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES HEAD OF SCHOOL REIMBURSABLE BUSINESS EXPENSE PER HEAD OF SCHOOL EMPLOYMENT CONTRACT (JOSE M. DE JESUS) PERSONAL SERVICES HEAD OF SCHOOL - IN RECOGNITION OF BUSINESS USE OF PERSONAL RESIDENCE OF HEAD OF SCHOOL AND AUTHORIZED BY COMPENSATION COMMITTEE (JOSE M. DE JESUS) ALL THE ABOVE BENEFITS, EXCEPT HOUSING, WERE CONSIDERED TAXABLE COMPENSATION AND WERE INCLUDED IN WAGES. PART I, LINE 4B 457F NON QUALIFIED PLAN CASH PAYOUT IN THE AMOUNT OF $549,219 TO JOHN STRUDWICK PART I, LINE 7 THE COMPENSATION COMMITTEE OF THE BOARD APPROVED A ONE TIME BONUS PAYMENT OF $93,750 FOR THIS YEAR TO JOSE M. DE JESUS. THIS IS A SPECIAL NON-RECURRING BONUS PAYMENT BASED ON GRATITUDE FOR HIS DEDICATION TO THE ORGANIZATION AND EXCEPTIONAL PERFORMANCE. DARRIN MADELEY'S INCENTIVE PAY WAS FOR RUNNING THE HOCKEY CAMPS FOR THE ACADEMY. ALL OTHER NON-FIXED PAYMENTS ARE STIPENDS FOR ADDITIONAL DUTIES, NOT BONUSES. A ILLINOIS DEVELOPMENT FINANCE AUTHORITY VARIABLE RATE DEMAND REVENUE BONDS 861091967 2016-06-21 16415000 SEE PART VI 0 0 0 A 16415000 168500 16246500 2016 1 0 1 1 A 0 0 0 0 0 0 1 A 0 1 1 0 1 0 0 0 1 A 1 SCHEDULE K, PART I, BOND ISSUES, COLUMN (F): CONSTRUCTION AND RENOVATION OF CAMPUS FACILITIES AND PAY ISSUANCE COSTS AND REFUNDING OF ILLINOIS DEVELOPMENT FINANCE AUTHORITY VARIABLE RATE DEMAND REVENUE BONDS DATED DECEMBER 1994 AND JULY 2000. TRUSTEE TRUSTEE 33700 TUITION FINANCIAL AID/SCHOLARSHIP TUITION JOSE M DE JESUS HEAD OF SCHOOL 47300 TUITION REMISSION TUITION X 12 458410 0 1 0 PART I, COLUMN (B): COLUMN B IS NUMBER OF CONTRIBUTIONS FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF TRUSTEES HAS DELEGATED THE RESPONSIBILITY FOR REVIEWING AND RECOMMENDING APPROVAL OF THE FORM 990 TO THE FINANCE AND EXECUTIVE COMMITTEES OF THE BOARD. FOLLOWING SUCH RECOMMENDATION, AND PRIOR TO THE BOARD MEETING AT WHICH THE 990 IS APPROVED, THE BOARD IS NOTIFIED AND INFORMED OF ITS POSTING ON THE WEBSITE AND ITS AVAILABILITY AT THE BOARD MEETING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISCUSSED UNDER THE ANY OTHER BUSINESS AGENDA ITEM AT THE FALL BOARD OF TRUSTEES MEETING. FORMS ARE DISTRIBUTED TO TRUSTEES AT THAT MEETING AND AN ELECTRONIC VERSION IS ALSO AVAILABLE ON OUR WEBSITE PAGE FOR TRUSTEES. TRUSTEES ARE REQUIRED TO SIGN A FORM ANNUALLY THAT THEY UNDERSTAND AND AGREE TO FOLLOW THE CONFLICT OF INTEREST POLICY. ANY POTENTIAL CONFLICTS THAT ARISE DURING THE YEAR ARE ASSIGNED TO THE COMMITTEE OF TRUSTEES AND THE BOARD FOR DISCUSSION AND RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 THE BASE SALARY AND OTHER COMPENSATION PROVISIONS FOR THE HEAD OF SCHOOL ARE FIXED BY CONTRACT. THE CONTRACT AND COMPENSATION MATTERS ARE ADMINISTERED ON BEHALF OF THE BOARD BY AN AD HOC COMPENSATION COMMITTEE CONSISTING OF THE CHAIR OF THE BOARD AND CERTAIN MEMBERS OF THE EXECUTIVE COMMITTEE. THE COMPENSATION COMMITTEE CONDUCTS AN ANNUAL REVIEW OF THE HEAD OF SCHOOL'S PERFORMANCE BASED UPON GOALS ESTABLISHED AT THE BEGINNING OF THE YEAR AND DETERMINES WHETHER TO AWARD A PERFORMANCE BONUS AND, IF AWARDED, HOW MUCH. THE CONTRACT PROVISIONS WERE DEVELOPED AFTER TAKING INTO ACCOUNT COMPARATIVE COMPENSATION DATA FURNISHED BY AN OUTSIDE EXPERT, AMONG OTHER CRITERIA. THE HEAD OF SCHOOL USES NAIS DATA, ANNUAL EVALUATIONS, AND A SALARY SCALE TO DETERMINE THE COMPENSATION FOR OFFICERS AND OTHER KEY EMPLOYEES WITHIN THE CONSTRAINT OF A TOTAL COMPENSATION BUDGET SET BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 INFORMATION NOT OTHERWISE RESTRICTED IS MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST SUBMITTED TO THE EXECUTIVE ASSISTANT TO THE HEAD OF SCHOOL.