2023-12-18T08:20:01-06:00 2023-06-30 540504608 BROWN EDWARDS & COMPANY LLP 3906 ELECTRIC ROAD ROANOKE VA 24018 990 2022-07-01 560935064 CANNON SCHOOL INC CANN 7047868171 5801 POPLAR TENT ROAD CONCORD NC 28027 WHIT BROWN DIRECTOR OF BUSINESS AND FINANCE 7047868171 2023-12-14 1 WHIT BROWN 999009999 1 PATRICK PITTMAN P00587461 5403450936 2023-12-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z WHIT BROWN 5801 POPLAR TENT ROAD CONCORD NC 28027 35798823 0 X WWW.CANNONSCHOOL.ORG X 1968 NC CANNON SCHOOL WAS FOUNDED IN 1968 AND IS A NON-PROFIT, INDEPENDENT SCHOOL THAT FOCUSES ON THE INDIVIDUAL STUDENT. THE SCHOOL OCCUPIES A 65-ACRE CAMPUS JUST OFF THE I-85 CORRIDOR IN CONCORD, NC. APPROXIMATELY 1058 STUDENTS WERE ENROLLED AT THE SCHOOL DURING THE FISCAL YEAR IN GRADES JUNIOR KINDERGARTEN THROUGH 12TH GRADE. CANNON ENCOURAGES STUDENTS TO STRETCH TO THEIR FULLEST POTENTIAL AND BECOME ENGAGED STUDENTS AND OUTSTANDING CITIZENS. CANNON'S LOWER SCHOOL STRESSES ACADEMIC EXCELLENCE, WITH A BALANCE OF ENRICHMENT OPPORTUNITIES AND AN EMPHASIS ON CHARACTER DEVELOPMENT. CANNON'S MIDDLE SCHOOL PROVIDES A CLIMATE FOR EMERGING YOUNG ADULTS TO NURTURE THEIR LOVE OF LEARNING, STRENGTHEN THEIR SELF CONCEPT, AND EXPLORE EXTRACURRICULAR ACTIVITIES. CANNON'S UPPER SCHOOL DEDICATES ITSELF TO DEVELOPING TEACHING PRACTICES AND CURRICULUM THAT EQUIP STUDENTS TO LEARN HOW TO LEARN AND IS BASED ON TRADITIONAL COLLEGE PREPARATORY CURRICULUM. 21 21 393 75 0 0 914654 6027044 26209851 27557276 1042033 1220180 414296 537405 28580834 35341905 3560893 3778150 0 0 15991348 16963359 0 0 1386873 7897589 9455626 27449830 30197135 1131004 5144770 52291449 56858605 14729769 13604360 37561680 43254245 PROVISION OF QUALITY K12 EDUCATIONAL PROGRAM WITHIN A SAFE, DIVERSE AND CHALLENGING ENVIRONMENT. 0 0 23941283 3778150 28094681 INSTRUCTION - PRIMARY AND SECONDARY EDUCATION WHICH BENEFITS STUDENTS WITHOUT REGARD TO RACE, RELIGION, OR NATIONAL ORIGIN. THE SCHOOL SERVED APPROXIMATELY 1058 STUDENTS DURING THE 2022-2023 SCHOOL YEAR. SPECIAL PROGRAMS INCLUDE AFTER SCHOOL PROGRAMS AND SUMMER CAMP. AUXILIARY SERVICES INCLUDE BUS TRANSPORTATION FOR STUDENTS AND A SCHOOL STORE. 23941283 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 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 47 0 1 393 1 0 0 0 0 0 0 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 X WHIT BROWN 7047868171 5801 POPLAR TENT ROAD CONCORD NC 28027 KARIN CAIN BOARD CHAIR 1.00 X X 0 0 0 TERRI ZANDHUIS VICE CHAIR 1.00 X X 0 0 0 MICHAEL MCDERMOTT TREASURER 1.00 X X 0 0 0 SHARON GOODWINE SECRETARY 1.00 X X 0 0 0 DR JESSICA BELL TRUSTEE 1.00 X 0 0 0 BENTON BRAGG SR TRUSTEE 1.00 X 0 0 0 REISA BYRAN TRUSTEE 1.00 X 0 0 0 DR BRET BUSBY TRUSTEE 1.00 X 0 0 0 DAVID BUTOW TRUSTEE 1.00 X 0 0 0 LISA COMBS TRUSTEE 1.00 X 0 0 0 ANJALI DIGHE TRUSTEE 1.00 X 0 0 0 JONATHAN DRY TRUSTEE 1.00 X 0 0 0 JAMES HARTSELL TRUSTEE 1.00 X 0 0 0 TIARA HENDERSON TRUSTEE 1.00 X 0 0 0 ANDREW HUDSON TRUSTEE 1.00 X 0 0 0 KIMBERLY LEATHERMAN TRUSTEE 1.00 X 0 0 0 CARY MAJORS TRUSTEE 1.00 X 0 0 0 DR PORTER PETERSON TRUSTEE 1.00 X 0 0 0 CHIGOZIE STEPHENS TRUSTEE 1.00 X 0 0 0 LAURIN TITUS TRUSTEE 1.00 X 0 0 0 JON WARD TRUSTEE 1.00 X 0 0 0 G CHRISTOPHER JONES HEAD OF SCHOOL 50.00 X 441170 0 30249 WHITNEY BROWN DIR. OF BUS. AND FINANCE 50.00 X 167134 0 19532 FABIO HURTADO DIRECTOR OF STUDIES 40.00 X 147571 0 17063 FREDERICK HARTUNG DIRECTOR OF ADVANCEMENT 40.00 X 149438 0 15716 CARLA MOYER HEAD OF MIDDLE SCHOOL 40.00 X 132336 0 14718 REGINA NIXON HEAD OF LOWER SCHOOL 40.00 X 141788 0 15546 1179437 0 112824 6 0 1 0 THE BUDD GROUP PO BOX 890856 CHARLOTTE NC 28289 JANITORIAL 378392 KALEIDOSCOPE ADVENTURES PO BOX 611 OAKLAND FL 34760 FIELD TRIPS-TOUR OPERATOR 300508 WGM DESIGN INC 2907 PROVIDENCE ROAD SUITE 304 CHARLOTTE NC 28211 MASTER PLAN - INFRASTRUCTURE 208956 FLIK INDEPENDENT SCHOOLS PO BOX 417632 BOSTON MA 02241 DINING SERVICES 157205 VENDETTA CYBER DEFENSE LLC PO BOX 85 MIDDLEBURG PA 17842 EMAIL SECURITY SERVICES 127444 5 6027044 30433 6027044 TUITION 900099 25281260 25281260 CAFETERIA 900099 1040671 1040671 SUMMER CAMPS 900099 596689 596689 TRANSPORTATION 900099 368229 368229 BEYOND THE BELLS 900099 270427 270427 27557276 471008 471008 1116427 21200 382231 6224 734196 14976 749172 749172 111651 68463 43188 43188 BOOSTER ORGANIZATION REVENUE 900099 377622 377622 MISCELLANEOUS REVENUE 900099 116595 116595 494217 35341905 28094681 0 1220180 3778150 3778150 601981 601981 13458211 10495738 2435643 526830 824026 615124 178026 30876 1076121 803309 232490 40322 1003020 748740 216697 37583 33992 33992 142962 142962 71982 71982 134156 134156 196178 187363 8099 716 434021 414520 17917 1584 1227227 976474 230387 20366 48495 36160 6698 5637 253330 188891 34991 29448 160735 128549 29572 2614 2218784 1774486 408213 36085 222688 183104 36369 3215 OTHER 1862262 1308125 59051 495086 STUDENT ACTIVITIES 1790417 1709970 73913 6534 MATERIALS AND SUPPLIES 330246 315408 13633 1205 BUS EXPENSES 183421 183421 144730 93751 36363 14616 30197135 23941283 4868979 1386873 7730455 8809059 1397788 1096060 567306 4238904 1339124 987315 25000 0 34428 34139 301592 417401 49910142 25654684 25530216 24255458 15045137 16772516 320403 247753 52291449 56858605 2037159 1784318 8372350 8545581 2131449 1455771 2014513 1701566 174298 117124 14729769 13604360 X 34030121 35271467 3531559 7982778 37561680 43254245 52291449 56858605 X 5144770 512309 35486 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12773387 1097226 1399394 602656 14667351 14091946 728739 -1995977 51321 12773387 10823671 147850 3535690 415265 14091946 10697010 148339 271099 292777 10823671 10091794 231800 634432 261016 10697010 0.76610 0.14050 0.09340 0 0 501819 501819 35946622 15335557 20611065 12971748 10319127 2652621 489953 489953 24255458 OPERATING LEASE LIABILITY 117124 117124 31693399 512309 103959 616268 31077131 71982 4192792 4264774 35341905 26000834 68463 68463 25932371 71982 4192782 4264764 30197135 PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF INTEREST SWAP 35,496. COST OF GOOD SOLD 68,463. PART XI, LINE 4B - OTHER ADJUSTMENTS: ADJUSTMENT TO PLEDGES RECEIVABLE VALUE 414,631. FINANCIAL AID AND SCHOLARSHIPS 3,778,150. ROUNDING 11. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 68,463. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIPS 3,778,150. ADJUSTMENT TO PLEDGES RECEIVABLE VALUE 414,631. ROUNDING 1. PART V, LINE 4: ENDOWMMENT FUNDS ARE USED TO FUND A VARIETY OF PROGRAMS THAT ARE ALIGNED WITH THE SCHOOL'S EXEMPT PURPOSE. THOSE FUNDS WITH DONOR IMPOSED RESTRICTIONS ARE EXPENDED ACCORDING TO THE DONOR RESTRICTIONS. THERE ARE SPENDING POLICIES BASED UPON INVESTMENT RETURNS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART 1, LINE 3 CANNON SCHOOL'S RACIALLY NON-DISCRIMINATORY POLICY APPEARS ON ITS ONLINE HOMEPAGE, WWW.CANNONSCHOOL.ORG, IN ACCORDANCE WITH REVENUE PROCEDURE 2019-22. 1 FINANCIAL AID 211 2240143 BOOK TUITION REDUCTION TUITION REMISSION 128 1538007 BOOK TUITION REDUCTION X X 1 1 X X X X 0 0 0 0 0 0 0 1 0 G CHRISTOPHER JONES HEAD OF SCHOOL 441170 0 0 0 0 0 23604 0 6645 0 471419 0 0 0 WHITNEY BROWN DIR. OF BUS. AND FINANCE 167134 0 0 0 0 0 12887 0 6645 0 186666 0 0 0 FREDERICK HARTUNG DIRECTOR OF ADVANCEMENT 149438 0 0 0 0 0 11251 0 4465 0 165154 0 0 0 FABIO HURTADO DIRECTOR OF STUDIES 147571 0 0 0 0 0 10845 0 6218 0 164634 0 0 0 REGINA NIXON HEAD OF LOWER SCHOOL 141788 0 0 0 0 0 11081 0 4465 0 157334 0 0 0 A NC CAPITAL FACILITIES FINANCE AGENCY 561592154 65818PBY4 2010-03-03 9035000 REFUNDING OF FACILITIES CONSTRUCTION BONDS 0 0 0 A 7579229 9035000 9035000 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 1 0 1 0 0 0 0 A 0 X 2 30433 STOCK MEDIAN VALUE 0 1 1 FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS IS PROVIDED WITH A PUBLIC DISCLOSURE COPY OF THE FORM 990 TO REVIEW. A FULL COPY OF THE FORM 990 WILL BE MADE AVAILABLE TO THE BOARD PRIOR TO FILING, AND WILL BE KEPT AT THE SCHOOL BUSINESS OFFICE. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES ARE REQUIRED TO REVIEW AND SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY. THE HEAD OF SCHOOL'S ASSISTANT COLLECTS ALL SIGNED CONFLICT OF INTEREST POLICIES FROM TRUSTEES AND REVIEWS FOR ANY POTENTIAL ISSUES. THESE ARE COLLECTED FROM ALL NEW TRUSTEES AS THEY CHANGE DURING THE YEAR. DURING THE COURSE OF THE YEAR, ANY TRUSTEE WITH A POTENTIAL CONFLICT RECUSES HIMSELF/HERSELF FROM DISCUSSIONS AND/OR VOTES. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL HAS A COMPENSATION COMMITTEE (COMPOSED OF INDEPENDENT TRUSTEES) FOR ITS HEAD OF SCHOOL THAT UNDERTOOK INITIAL STUDIES OF COMPARABILITY SOURCE DATA FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS ("NAIS") TO DETERMINE THE HEAD'S OVERALL COMPENSATION. THE COMPENSATION DETERMINATION PROCESS IS DOCUMENTED IN THE MEETING MINUTES. ADDITIONALLY, THE COMPENSATION IS REEXAMINED ON A PERIODIC BASIS TO ENSURE REASONABLENESS. THE SCHOOL HAS A FULLTIME HUMAN RESOURCE DIRECTOR ("HRD") THAT ASSISTS IN PULLING TOGETHER COMPENSATION MARKET DATA FOR ALL OTHER POSITIONS. ANNUALLY, BENCHMARKING DATA IS PROVIDED BY THE HRD TO THE HEAD OF SCHOOL FOR THE LEADERSHIP TEAM. BENCHMARKING DATA IS PULLED FROM DASL, A DATABASE PROVIDED BY THE NAIS. COMPARATOR SCHOOLS INCLUDE THOSE IN THE LOCAL/STATE AREA AND THE SOUTHEAST REGION; ALL SCHOOLS ARE DAY SCHOOLS THAT ARE SIMILAR IN SIZE/SCOPE. GENERALLY, THE STANDARD RAISE PERCENTAGE FOR ALL EMPLOYEES, APPROVED BY THE BOARD, IS GIVEN TO EACH LEADER. SOMETIMES, IF A LEADER IS BELOW THE COMPETITIVE MEDIAN RATE AS COMPARED TO OTHERS WITH SIMILAR YEARS OF SERVICE, AN ADDITIONAL INCREASE ABOVE THE BOARD APPROVED RATE IS GIVEN. THIS IS DETERMINED AND APPROVED BY THE HEAD OF SCHOOL. THE PROCESS USED TO DETERMINE THE SALARY FOR THE DIRECTOR OF BUSINESS AND FINANCE IS THE SAME AS LISTED ABOVE. HOWEVER, BOARD APPROVAL IS REQUIRED EACH YEAR. SIGNED DOCUMENTATION BY THE BOARD CHAIR IS PROVIDED TO THE HRD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST SWAP 35,496. ROUNDING -10. FORM 990, PART XII, LINE 2C: ADJUSTMENT TO PLEDGES RECEIVABLE VALUE