2025-05-15T08:58:34-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 29 SOUTH MAIN STREET 4TH FLOOR WEST HARTFORD CT 06107 990 2023-07-01 061229222 KING SCHOOL INC KING 2033223496 1450 NEWFIELD AVENUE STAMFORD CT 06905 STEPHEN SCHAFER CHIEF FIN. & OPERATIONS OFFICER 2033223496 2025-05-13 1 0 JOHN TOSCANO P00358542 8605614000 2025-05-05 2023 2025-03-06 01:10:19Z STEPHEN SCHAFER 1450 NEWFIELD AVENUE STAMFORD CT 06905 57806255 0 X WWW.KINGSCHOOLCT.ORG X 1988 CT KING SCHOOL IS AN INDEPENDENT, COLLEGE PREPARATORY SCHOOL SERVING THE STAMFORD, CT AREA. 24 24 397 74 14214 0 3279832 5929992 36345866 39368492 2161347 2169429 201046 536397 41988091 48004310 4685470 4926870 0 0 22845847 24508857 0 0 845292 13558279 14812698 41089596 44248425 898495 3755885 115105975 124220823 40581594 41505434 74524381 82715389 X KING SCHOOL PREPARES STUDENTS TO THRIVE IN A RAPIDLY CHANGING WORLD. STUDENTS ARE IMMERSED IN AN ENGAGING AND INNOVATIVE CURRICULUM ANCHORED IN AN INQUIRY-BASED APPROACH THAT FOSTERS CURIOSITY, INTELLECTUAL GROWTH, AND CHARACTER DEVELOPMENT. AT KING SCHOOL, INDIVIDUAL ACCOMPLISHMENT COMPLEMENTS A DEEP SENSE OF BELONGING. WE EMBRACE DIVERSITY IN ALL ITS FORMS, NURTURING EVERY STUDENT TO LEARN AND GROW IN A COLLABORATIVE AND SUPPORTIVE COMMUNITY. GUIDED BY DEDICATED EDUCATORS AND A COMMITMENT TO ACADEMIC EXCELLENCE, KING STUDENTS BECOME INVESTED IN THEIR JOURNEY, DEVELOP A LIFELONG LOVE OF LEARNING, AND ARE WELL-EQUIPPED TO SUCCEED IN COLLEGE AND BEYOND. THEY GRADUATE WITH A GLOBAL MINDSET, A STRONG SENSE OF SOCIAL RESPONSIBILITY, AND THE CONFIDENCE TO PURSUE LIVES OF PURPOSE. 0 0 31476485 4926870 39505652 KING SCHOOL IS A NONPROFIT, INDEPENDENT, COEDUCATIONAL DAY SCHOOL SERVING MORE THAN 700 STUDENTS IN GRADES PRE-K THROUGH 12. KING PREPARES STUDENTS FOR COLLEGE AND FUTURE LEADERSHIP ROLES IN AN EVOLVING GLOBAL SOCIETY WITH A RIGOROUS STUDENT-CENTERED EDUCATION THAT FOSTERS INTELLECTUAL CURIOSITY, CREATIVITY, AND PERSONAL GROWTH. 100% OF GRADUATING SENIORS MATRICULATED TO COLLEGES AND UNIVERSITIES.THE SCHOOL AWARDED APPROXIMATELY $4.9 MILLION IN FINANCIAL AID TO ENSURE ACCESS TO A QUALITY EDUCATION FOR STUDENTS FROM A RANGE OF SOCIO-ECONOMIC BACKGROUNDS. THE SCHOOL OFFERS MORE THAN 50 STUDENT CLUBS AND ORGANIZATIONS, ENCOURAGING LEADERSHIP, CREATIVITY, AND COMMUNITY ENGAGEMENT. THE SCHOOL'S ARTS AND ATHLETICS PROGRAMS PROVIDE OPPORTUNITIES FOR CREATIVE EXPRESSION AND PHYSICAL DEVELOPMENT, WITH TEAMS COMPETING AT REGIONAL AND STATE LEVELS.KING SCHOOL STUDENTS CONTRIBUTED OVER 300 HOURS OF COMMUNITY SERVICE, SUPPORTING LOCAL, NATIONAL AND INTERNATIONAL NONPROFITS, ENVIRONMENTAL INITIATIVES, AND UNDERSERVED COMMUNITIES. 31476485 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 98 0 1 397 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X STEPHEN SCHAFER 2033223496 1450 NEWFIELD AVENUE STAMFORD CT 06905 MI-SUN FREEMAN BOARD CHAIR 25.00 X X 0 0 0 ERIC GERSTER VICE CHAIR 5.00 X X 0 0 0 PETER RESNICK SECOND VICE CHAIR 5.00 X X 0 0 0 NANCY HEATON TREASURER 5.00 X X 0 0 0 JESSICA DEMMO SECRETARY 5.00 X X 0 0 0 THOMAS KING AT LARGE 2.00 X 0 0 0 DOUG PERLMAN SECOND AT LARGE 2.00 X 0 0 0 LINDSAY ZAKEN THIRD AT LARGE 2.00 X 0 0 0 MATTHEW ALLARD TRUSTEE 2.00 X 0 0 0 MATTHEW BARLOW TRUSTEE 2.00 X 0 0 0 LAUREN BELLMARE TRUSTEE 2.00 X 0 0 0 WEI DU TRUSTEE 2.00 X 0 0 0 AHMED FATTOUH TRUSTEE 2.00 X 0 0 0 KIRBY GRABOWSKI LIM TRUSTEE 2.00 X 0 0 0 ROBERT KAY TRUSTEE 2.00 X 0 0 0 DANIEL KNIJNIK TRUSTEE 2.00 X 0 0 0 OKTAY KURBANOV TRUSTEE 2.00 X 0 0 0 ARA LOVITT TRUSTEE 2.00 X 0 0 0 BRIAN O'CALLAGHAN TRUSTEE 2.00 X 0 0 0 GOD-IS RIVERA TRUSTEE 2.00 X 0 0 0 THOMAS RYAN TRUSTEE 2.00 X 0 0 0 RACHELLE SPIELVOGEL TRUSTEE 2.00 X 0 0 0 MARTIN SULLIVAN TRUSTEE 2.00 X 0 0 0 LORENZO WYATT TRUSTEE 2.00 X 0 0 0 CAROL MAOZ HEAD OF SCHOOL 40.00 X 544739 0 126530 STEPHEN SCHAFER CHIEF FINANCIAL AND OPERAT 40.00 X 338772 0 31462 BARBARA DRAYER DIRECTOR OF DEVELOPMENT AN 40.00 X 215637 0 22244 SANDY LIZAIRE-DUFF HEAD OF LOWER SCHOOL 40.00 X 214884 0 58632 MARNIE SADLOWSKY ASSOC. HEAD/HEAD OF UPPER 40.00 X 219519 0 44241 JANINE NEWMAN ASSOC. HEAD/DIRECTOR OF ADMISSION 40.00 X 201253 0 46173 JOSHUA DEITCH HEAD OF MIDDLE SCHOOL 40.00 X 179171 0 10709 1913975 0 339991 44 0 1 0 FLIK INDEPENDENT SCHOOLS BY CHARTWELL PO BOX 417632 BOSTON MA 02241 FOOD SERVICES 1305794 ASD CONSTRUCTION 470 NAUGATUCK AVENUE MILFORD CT 06460 CONSTRUCTION 699012 SODEXO INC & AFFILIATES PO BOX 81049 WOBURN MA 01813 FACILITIES MAINTENANCE 558766 PETER GISOLFI ASSOCIATES LLP 566 WARBURTON AVENUE HASTINGS ON HUDSON NY 10706 ARCHITECT SERVICES 538496 EASTERN LAND MANAGEMENT 142 HAMILTON AVE STAMFORD CT 06902 LANDSCAPING SERVICES 271401 15 315424 2487657 3126911 321785 5929992 TUITION & PROGRAM FEES 611600 36712647 36712647 OTHER STUDENT FEES 611600 1389040 1389040 FOOD SERVICE INCOME 611600 930641 930641 SUMMER INSTITUTE FEES 611600 287302 287302 PARENT ASSOCIATION INCOME 611600 48862 48862 39368492 1507738 3801 1503937 21600 0 21600 21600 21600 10178197 5650 9512963 9193 665234 -3543 661691 10413 651278 259130 315424 164728 94402 94402 131312 115061 16251 16251 OTHER INCOME 611600 404144 120909 283235 404144 48004310 39505652 14214 2554452 10340 10340 4916530 4916530 1015385 1015385 17444156 13296121 3655615 492420 926087 694539 205826 25722 3820523 3077452 669161 73910 1302706 943356 324413 34937 63108 63108 257603 257603 230209 230209 198277 67834 127341 3102 504336 9782 466754 27800 1037418 191353 844645 1420 3217797 439525 2778272 231010 231010 2971262 2587375 383887 410675 410675 STUDENT ACTIVITIES AND 3204100 3204100 DEPARTMENTAL EXPENSES 1274347 594612 493754 185981 DINING COSTS 1111497 1111497 PARENT ASSOCIATION EXPE 101059 101059 44248425 31476485 11926648 845292 242946 282597 12910080 7701590 1194836 1116963 23043215 26727525 593708 561316 74881470 40693183 33129599 34188287 29515052 36208989 12896902 16160805 1579637 1272751 115105975 124220823 3948780 4228042 31175820 32110184 5456994 5167208 40581594 41505434 X 66423193 72853116 8101188 9862273 74524381 82715389 115105975 124220823 3755885 4435123 0 X X 0 1 X 1 0 X 5735196 4229021 2740811 3273121 5929992 21908141 5735196 4229021 2740811 3273121 5929992 21908141 1500046 20408095 531422 394198 944078 1353933 1525537 4749168 10210 14214 24424 265030 244932 240360 234244 542365 1526931 28208664 172380523 0.72350 0.70500 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS INCOME FROM FUNDRAISING EVENTS - 2022 AMOUNT: $ 32,525. 2023 AMOUNT: $ 259,130. PARENT ASSOCIATION DUES AND OTHER INCOME - 2019 AMOUNT: $ 206,514. 2020 AMOUNT: $ 244,932. 2021 AMOUNT: $ 240,360. OTHER INCOME - 2019 AMOUNT: $ 58,516. 2022 AMOUNT: $ 201,719. 2023 AMOUNT: $ 283,235. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 42419210 605597 5503448 142791 821374 47564090 38722649 463808 4083729 132488 718488 42419210 42162093 1160540 -3762406 112344 725234 38722649 30308340 4968779 7249529 103392 261086 77 42162093 28868784 1917478 135060 4556 608398 28 30308340 0.84591 0.15410 0.00000 0 0 220000 220000 64450282 33827387 30622895 8476586 6865796 1610790 1734602 1734602 34188287 ALTERNATIVE INVESTMENTS 16160805 F 16160805 X 47515830 4435123 -4973183 -538060 48053890 230209 -279789 -49580 48004310 39324822 279789 279789 39045033 230209 4973183 5203392 44248425 PART V, LINE 4: THE PRIMARY USE OF THE ENDOWMENT IS TO PROVIDE SCHOLARSHIPS TO ELIGIBLE STUDENTS AND SUPPORT SCHOOL OPERATIONS. PART X, LINE 2: THE SCHOOL QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES. TO THE BEST OF OUR KNOWLEDGE, THE SCHOOL DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS, GRANTS, AND TUITION REMISSION -4,973,183. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -164,728. COST OF GOOD SOLD -115,061. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 164,728. COST OF GOOD SOLD 115,061. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS, GRANTS, AND TUITION REMISSION 4,973,183. 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'S RACIALLY NONDISCRIMINATORY POLICY IS STATED ON EVERY PAGE ON OUR WEBSITE. EUROPE 0 0 INVESTMENTS 6349698 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 7819600 0 0 0 0 0 0 14169298 0 14169298 1 0 1 0 0 0 FORM 990, SCHEDULE F, PART I THE INVESTMENTS LISTED IN PART I ARE PART OF THE SCHOOL'S ENDOWMENT PORTFOLIO. VIKINGS CUP 66600 40175 26425 46130 4168 15195 GALA 507954 275249 232705 11068 48354 13357 26456 574554 315424 259130 57198 52522 13357 41651 164728 94402 1 ORPHANED STARFISH FOUNDATION INC 55 EXCHANGE PLACE 402 NEW YORK NY 10005 311782130 501(C)(3) 5170 0 KING CARES 5K DONATION BOYS & GIRLS CLUB OF STAMFORD INC 347 STILLWATER AVENUE STAMFORD CT 06902 060646911 501(C)(3) 5170 0 KING CARES 5K DONATION 2 0 FINANCIAL ACCESS AND SCHOLARSHIPS 166 0 4916530 FMV REDUCTION IN TUITION AND SUMMER INSTITUTE FEES PART I, LINE 2: FINANCIAL AID IS AVAILABLE FOR QUALIFIED STUDENTS ON THE BASIS OF NEED. AID AWARDED FOR THE FISCAL YEAR ENDED JUNE 30, 2024, WAS DETERMINED BY SCHOOL AND STUDENT SERVICES (SSS) GUIDELINES WHICH PROVIDED A FINANCIAL AID NEED ANALYSIS BASED ON CONFIDENTIAL INFORMATION PROVIDED BY FAMILIES. THE SCHOLARSHIPS ARE AWARDED ON AN OBJECTIVE AND NONDISCRIMINATORY MANNER. ALL SCHOLARSHIPS ARE MADE DIRECTLY AS CREDITS AGAINST STUDENT ACCOUNTS AND NO CASH REFUNDS ARE ISSUED FOR ANY PURPOSE. STARTING WITH THE FISCAL YEAR ENDING JUNE 30, 2025, AID WILL BE DETERMINED BY CLARITY FINANCIAL AID. X 1 1 X X X 0 0 0 0 0 0 0 1 1 0 CAROL MAOZ HEAD OF SCHOOL 476739 0 68000 0 0 0 28950 0 97580 0 671269 0 0 0 STEPHEN SCHAFER CHIEF FINANCIAL AND OPERAT 335468 0 2500 0 804 0 20624 0 10838 0 370234 0 0 0 SANDY LIZAIRE-DUFF HEAD OF LOWER SCHOOL 193172 0 0 0 21712 0 9881 0 48751 0 273516 0 0 0 MARNIE SADLOWSKY ASSOC. HEAD/HEAD OF UPPER 219031 0 0 0 488 0 20453 0 23788 0 263760 0 0 0 JANINE NEWMAN ASSOC. HEAD/DIRECTOR OF ADMISSION 198465 0 2500 0 288 0 14739 0 31434 0 247426 0 0 0 BARBARA DRAYER DIRECTOR OF DEVELOPMENT AN 215637 0 0 0 0 0 10996 0 11248 0 237881 0 0 0 JOSHUA DEITCH HEAD OF MIDDLE SCHOOL 176530 0 2500 0 141 0 8926 0 1783 0 189880 0 0 0 PART I, LINE 1A AS HEAD OF SCHOOL, CAROL MAOZ WAS PROVIDED WITH ON-CAMPUS HOUSING. THIS HOUSING IS REQUIRED BY THE NATURE OF THE POSITION AND AS A CONDITION OF EMPLOYMENT AND IS TREATED AS A NON-TAXABLE BENEFIT. PART I, LINE 7 BONUSES ARE PAID ON EITHER A CONTRACTUAL ARRANGEMENT OR A DISCRETIONARY BASIS. DISCRETIONARY BONUSES ARE BASED ON INDIVIDUAL PERFORMANCE, STRATEGIC CONTRIBUTIONS, AND OTHER QUALITATIVE FACTORS. ALL DISCRETIONARY BONUSES ARE APPROVED BY THE HEAD OF SCHOOL AND REVIEWED BY THE CHIEF FINANCIAL AND OPERATING OFFICER TO ENSURE REASONABLENESS AND COMPLIANCE WITH APPLICABLE REGULATIONS. THE HEAD OF SCHOOL'S BONUS IS PAID IN ACCORDANCE WITH HER EMPLOYMENT CONTRACT, WHICH IS APPROVED BY THE BOARD. PART I, LINE 8 CAROL MAOZ IS IN HER INITIAL HEAD OF SCHOOL CONTRACT WITH THE SCHOOL, WHICH ENDS ON JUNE 30 2024. AN EXTENSION WAS SIGNED WHICH EXTENDS THIS CONTRACT THROUGH JUNE 30, 2027. A CHEFA 2023 SERIES C 060806186 2023-04-27 5612000 REFINANCING SERIES C 2023 BOND ISSUANCE 0 0 0 A 301000 5612000 111500 5500500 2003 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 PART II, LINE 11 OTHER SPENT PROCEEDS RELATES TO REFINANCING OF PRIOR BOND X 18 321785 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE NUMBER REPORTED IN PART I COLUMN (B) REPRESENTS THE NUMBER OF GIFTS RECEIVED. FORM 990, PART VI, SECTION A, LINE 1A SUBJECT TO ANY PRIOR LIMITATIONS IMPOSED BY THE BOARD AND THOSE CONTAINED IN THE BY-LAWS, THE EXECUTIVE COMMITTEE SHALL HAVE THE POWER TO TRANSACT ALL REGULAR BUSINESS OF KING DURING THE INTERIM BETWEEN THE MEETINGS OF THE BOARD, AND ITS ACTIONS SHALL HAVE THE SAME FORCE AND EFFECT AS ACTION OF THE BOARD, PROVIDED, HOWEVER, THE EXECUTIVE COMMITTEE MAY NOT: (1) FILL VACANCIES ON THE BOARD; (2) ADOPT, AMEND OR REPEAL THE BY-LAWS; (3) APPROVE A PLAN OF MERGER; (4) APPROVE A SALE, LEASE, EXCHANGE OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL, OF THE PROPERTY OF KING EXCEPT AS PROVIDED IN SECTION 33- 1101(E)(5) OF THE ACT; OR (5) APPROVE A PROPOSAL TO DISSOLVE. IT IS THE EXPECTATION OF THE BOARD THAT, EXCEPT AS PROVIDED IN THE BY-LAWS, THE EXECUTIVE COMMITTEE SHALL ACT ON BEHALF OF THE BOARD ONLY IN UNUSUAL AND PRESSING CIRCUMSTANCES, AS DETERMINED AT THE DISCRETION OF THE CHAIRPERSON. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE AND EXECUTIVE COMMITTEE REVIEW THE ENTIRE 990. FOLLOWING THEIR REVIEW AND APPROVAL, THE BOARD IS PROVIDED WITH THE PUBLIC INSPECTION COPY OF THE RETURN PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL TRUSTEES AND OFFICERS ARE OBLIGATED TO SIGN A CONFLICT OF INTEREST STATEMENT. POTENTIAL CONFLICTS MUST BE REPORTED TO THE CHAIR OF THE TRUSTEESHIP COMMITTEE OF THE BOARD OF TRUSTEES. MEMBERS OF THE TRUSTEESHIP COMMITTEE WILL BE DESIGNATED BY THE CHAIR OF THE TRUSTEESHIP COMMITTEE TO INVESTIGATE POTENTIAL CONFLICT SITUATIONS OF BOTH INTEREST AND COMMITMENT AND, IF APPROPRIATE, PROVIDE RECOMMENDATIONS FOR CORRECTIVE ACTION. RECOMMENDATIONS ARE TO BE BROUGHT FORWARD BY THE CHAIR OF THE TRUSTEESHIP COMMITTEE TO THE CHAIR OF THE BOARD OF TRUSTEES AND HEAD OF SCHOOL AS HE OR SHE DEEMS APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15 THE HEAD OF SCHOOL'S COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES AND IS BASED ON COMPETITIVE COMPENSATION DATA FROM SEVERAL SOURCES, EXPERIENCE, A PERFORMANCE APPRAISAL, AND OTHER DOCUMENTATION. THE HEAD OF SCHOOL DETERMINES THE COMPENSATION FOR MANAGEMENT OFFICIALS UTILIZING THE OVERALL SALARY INCREASE POOL APPROVED BY THE BOARD OF TRUSTEES, COMPARABLE SALARY DATA, EXPERIENCE, A PERFORMANCE APPRAISAL, AND OTHER DOCUMENTATION. IN ADDITION, THE CHIEF FINANCIAL AND OPERATING OFFICER AND THE HEAD OF SCHOOL REVIEW COMPARABLE DATA OF OTHER MANAGEMENT OFFICIALS. TAKING THIS DATA INTO CONSIDERATION, THE HEAD OF SCHOOL WILL THEN DETERMINE THE COMPENSATION. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL'S CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS, AND GOVERNING DOCUMENTS ARE MADE AVAILABLE BY REQUEST AT MANAGEMENT'S DISCRETION. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES TO THE ORGANIZATION'S OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR.