2022-05-13T09:48:49-05:00 2021-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2020-07-01 050259009 ST GEORGE'S SCHOOL STGE 4018477565 PO BOX 1910 NEWPORT RI 028400190 ELIZABETH F MCGRATH DIRECTOR OF FINANCE 4018426785 2022-05-12 1 ELIZABETH MCGRATH 999009999 LAURA J KENNEY P00202198 6177170831 2022-05-12 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z ALEXANDRA H CALLEN PO BOX 1910 NEWPORT RI 028420190 59315421 0 X WWW.STGEORGES.EDU X 1896 RI TO GIVE STUDENTS IN THE GRADES OF 9 THROUGH 12 THE OPPORTUNITY OF DEVELOPING TO THE FULLEST EXTENT. 25 24 248 250 1500 0 5753520 6796611 22937608 23775248 12011751 12917449 279262 93301 40982141 43582609 5189321 5408697 0 0 14794890 14976883 0 0 1576564 13853476 15347107 33837687 35732687 7144454 7849922 273594533 313371330 47499321 45173679 226095212 268197651 TO GIVE STUDENTS IN THE GRADES OF 9 THROUGH 12 THE OPPORTUNITY OF DEVELOPING TO THE FULLEST EXTENT POSSIBLE THE PARTICULAR GIFTS THAT ARE THEIRS AND TO ENCOURAGE IN THEM THE DESIRE TO DO SO. 0 0 29109289 5408697 23791759 ST. GEORGE'S SCHOOL PRIMARILY PROVIDES INSTRUCTION AND STUDENT EDUCATION SUPPORT TO STUDENTS IN GRADES 9-12. 29109289 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 0 0 1 0 1 0 0 0 1 0 0 0 0 1 59 0 1 248 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X ELIZABETH F MCGRATH DIRECTOR OF F 4018426785 372 PURGATORY ROAD MIDDLETOWN RI 02842 ALEXANDRA H CALLEN HEAD OF SCHOOL 50.00 X X 421170 0 162552 TED ARCHER INDIVIDUAL TRUSTEE 2.00 X 0 0 0 RUDOLPHUS BETHEA JR INDIVIDUAL TRUSTEE 2.00 X 0 0 0 REBECCA BLISS INDIVIDUAL TRUSTEE 2.00 X 0 0 0 TIMOTHY P BURNS SECRETARY 2.00 X X 0 0 0 KIRTLEY CAMERON INDIVIDUAL TRUSTEE 2.00 X 0 0 0 PETER COOK INDIVIDUAL TRUSTEE 2.00 X 0 0 0 ELEANOR DEJOUX INDIVIDUAL TRUSTEE 2.00 X 0 0 0 WILLIAM C DORSEY INDIVIDUAL TRUSTEE 2.00 X 0 0 0 LOUIS D DUFF III INDIVIDUAL TRUSTEE 2.00 X 0 0 0 JAMES T DYKE JR INDIVIDUAL TRUSTEE 2.00 X 0 0 0 DAVID HALWIG INDIVIDUAL TRUSTEE 2.00 X 0 0 0 CLARE GESUALDO HARRINGTON INDIVIDUAL TRUSTEE 2.00 X 0 0 0 LESLIE BATHGATE HEANEY CHAIR 2.00 X X 0 0 0 JOSEPH C HOOPES JR INDIVIDUAL TRUSTEE 2.00 X 0 0 0 FRASER L HUNTER JR INDIVIDUAL TRUSTEE 2.00 X 0 0 0 HUGH JONES INDIVIDUAL TRUSTEE 2.00 X 0 0 0 ANTHONY R MAYER INDIVIDUAL TRUSTEE 2.00 X 0 0 0 E STANTON MCLEAN INDIVIDUAL TRUSTEE 2.00 X 0 0 0 GEORGE N PETROVAS INDIVIDUAL TRUSTEE 2.00 X 0 0 0 DAVID RANDALL INDIVIDUAL TRUSTEE 2.00 X 0 0 0 DANA L SCHMALTZ TREASURER 2.00 X X 0 0 0 MARK D TABER INDIVIDUAL TRUSTEE 2.00 X 0 0 0 MEADE THAYER INDIVIDUAL TRUSTEE 2.00 X 0 0 0 LANGDON VAN NORDEN JR INDIVIDUAL TRUSTEE 2.00 X 0 0 0 ELIZABETH MCGRATH DIRECTOR OF FINANCE 50.00 X 191856 0 31623 JEDD WHITLOCK DIRECTOR OF ADVANCEMENT 50.00 X 236255 0 80847 GEORGE STAPLES DIRECTOR OF OPERATIONS 50.00 X 183402 0 50324 ELIZABETH BICKFORD ASSOCIATE HEAD OF SCHOOL 50.00 X 154647 0 60079 MERVAN OSBORNE ASSOCIATE HEAD OF SCHOOL 50.00 X 158312 0 51095 RYAN MULHERN DIRECTOR OF ADMISSIONS 50.00 X 132559 0 114842 KELLY RICHARDS DIRECTOR OF COLLEGE COUNSELING 50.00 X 118322 0 45163 SUZANNE MCGRADY DIRECTOR OF COMMUNICATIONS 50.00 X 120282 0 29524 JUNE BJERREGAARD DIRECTOR OF HEALTH SERVICE 50.00 X 126857 0 23540 CYNTHIA MARTIN ASSOCIATE DIR. OF ADVANCEM 50.00 X 120020 0 25359 1963682 0 674948 15 0 1 0 SHAWMUT DESIGN & CONSTRUCTION 560 HARRISON AVE SUITE 200 BOSTON MA 02118 CONSTRUCTION CONTRACTORS 10438293 SAGE DINING SERVICES 222 BOSLEY AVE STE B-7 TOWSON MD 21204 DINING SERVICES 1224374 COMPASS FACILITY SERVICES INC 65 JACKMAN STREET GEORGETOWN MA 01833 CLEANING SERVICES 776397 JOHN W BRISTOL & CO INC 48 WALL STREET NEW YORK NY 10005 FUND MANAGEMENT 400257 VISION 3 ARCHITECTS 225 CHAPMAN STREET PROVIDENCE RI 02905 ARCHITECTS 258556 13 92716 6703895 1120422 6796611 STUDENT SERVICES 611110 23775248 23775248 23775248 3367827 3367827 24659688 488297 15598363 0 9061325 488297 9549622 9549622 44100 92716 55217 -11117 -11117 165639 79232 86407 86407 MISCELLANEOUS INCOME 900099 18011 16511 1500 18011 43582609 23791759 1500 12992739 5408697 5408697 1582469 554961 727059 300449 20697 20697 9818998 7578809 1535982 704207 798048 628965 114392 54691 1987822 1715365 192364 80093 768849 577293 127973 63583 174824 22843 151981 54275 800 53475 469344 469344 3162040 2922784 105406 133850 159270 78286 30747 50237 406530 312348 63803 30379 888191 623250 207726 57215 3517402 3404381 87176 25845 59208 57927 1281 111179 81484 15522 14173 983991 931190 52801 4036931 3835084 201847 636100 101428 534672 FOOD 634952 273394 300997 60561 PHONE AND MISCELLANEOUS 52870 52870 35732687 29109289 5046834 1576564 116122 4483279 3345180 3158668 292140 377403 103893 97611 171782 154464 593388 650392 144538788 67620738 75912826 76918050 175100289 211442707 17667852 15841022 291061 247734 273594533 313371330 6111450 4180864 3843324 4494453 37417505 36356242 127042 142120 47499321 45173679 X 54897471 72655265 171197741 195542386 226095212 268197651 273594533 313371330 X 7849922 32744250 1508267 X 0 1 X 1 0 X 7331200 5201446 7880162 5753520 6796611 32962939 7331200 5201446 7880162 5753520 6796611 32962939 119771 32843168 2723210 2900919 3495484 3960470 3367827 16447910 363006 593828 563510 414598 165639 2100581 51511430 118971432 0.63760 0.60480 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SALE OF INVENTORY RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 175342805 630909 44056556 2021764 4022686 448200 213537620 168830582 271717 13783884 1896852 5256789 389737 175342805 154035532 492796 21562659 1639870 5253201 367334 168830582 134961692 7218661 17801226 1577930 4029891 338226 154035532 122855122 1301459 18895415 1511027 6275722 303555 134961692 0.13000 0.34000 0.53000 1 0 1809627 1809627 115844927 51633603 64211324 16825370 12375519 4449851 10058864 3611616 6447248 76918050 CORPORATE BONDS 8347736 F SPLIT INTEREST AGREEMENTS 7493286 F 15841022 DUE TO BENEFICIARIES OF SPLIT INTEREST AGREEMENTS 142120 142120 71282333 32744250 1598616 34342866 36939467 469445 6173697 6643142 43582609 29179894 90349 90349 29089545 469445 6173697 6643142 35732687 PART V, LINE 4: THE SCHOOL'S ENDOWMENT CONSISTS OF NUMEROUS FUNDS DONATED OR ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT FUNDS INCLUDE BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND UNRESTRICTED FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENT FUNDS. THE SCHOOL HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT INTEND TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE MAINTAINING THE PURCHASING POWER OF THE ENDOWMENT ASSETS. PART XI, LINE 2D - OTHER ADJUSTMENTS: STORE - COST OF GOODS SOLD 79,232. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 1,508,267. FUNDRAISING EXPENSES 11,117. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID/TUITION REMISSION 6,173,697. PART XII, LINE 2D - OTHER ADJUSTMENTS: STORE - COST OF GOODS SOLD 79,232. FUNDRAISING EXPENSES 11,117. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID/TUITION REMISSION 6,173,697. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 ST. GEORGE'S SCHOOL ADMITS QUALIFIED STUDENTS OF ANY RELIGION, RACE, COLOR, SEX, SEXUAL ORIENTATION, GENDER IDENTITY, GENDER EXPRESSION, NATIONAL OR ETHNIC ORIGIN, ANCESTRY, OR MENTAL OR PHYSICAL DISABILITY TO ALL THE PROGRAMS AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE SCHOOL. THE SCHOOL DOES NOT DISCRIMINATE ON THE BASIS OF RELIGION, RACE, COLOR, SEX, SEXUAL ORIENTATION, GENDER IDENTITY, GENDER EXPRESSION, NATIONAL OR ETHNIC ORIGIN, ANCESTRY, MENTAL OR PHYSICAL DISABILITY, OR ANY OTHER STATUS PROTECTED BY APPLICABLE LAW IN THE ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSIONS, SCHOLARSHIP AND LOAN PROGRAMS, OR ATHLETIC AND OTHER POLICIES AND PROGRAMS. THE NON-DISCRIMINATION POLICY IS PUBLISHED IN THE SCHOOL ADMISSIONS CATALOG, ON THE SCHOOL'S WEBSITE HOMEPAGE, IN THE STUDENT HANDBOOK, ON ALL EMPLOYMENT APPLICATIONS AND IN THE EMPLOYEE HANDBOOK. DRAGON CUP GOLF TOURNAMENT 136816 92716 44100 3062 39867 10777 1511 136816 92716 44100 3062 39867 10777 1511 55217 -11117 1 STUDENT SCHOLARSHIP - DAY & BOARDING TUITION 111 5282435 FMV CREDITS AGAINST TUITION EDUCATIONAL SUPPLIES 64 3700 87709 FMV LAPTOP COMPUTERS, INSURANCE, ETC. MISCELLANEOUS STUDENT AID 19 34853 FMV WRITING, MUSIC, TRIPS ABROAD SCHEDULE I, PART I, LINE 2 FINANCIAL AID IS PROVIDED FOR TUITION AND FEES TO STUDENTS WHO DEMONSTRATE FINANCIAL NEED. THE SCHOOL DETERMINES THE NEED THROUGH AN OBJECTIVE AND NONDISCRIMINATORY REVIEW OF INFORMATION PROVIDED BY AN INDEPENDENT THIRD PARTY AS WELL AS DISCUSSIONS WITH THE FAMILY. THE THIRD PARTY COLLECTS AN APPLICANT'S FAMILY FINANCIAL INFORMATION AND SUGGESTS AN AMOUNT THAT THE FAMILY WILL BE ABLE TO CONTRIBUTE TO THE COST TO ATTEND ST. GEORGE'S SCHOOL. THE SCHOOL MAKES THE FINAL DETERMINATION OF THE AMOUNT OF AID THAT WILL BE OFFERED. X X X 1 1 X X X X 0 0 0 0 0 0 0 1 1 1 ALEXANDRA H CALLEN HEAD OF SCHOOL 405301 0 0 0 15869 0 42650 0 119902 0 583722 0 0 0 JEDD WHITLOCK DIRECTOR OF ADVANCEMENT 230632 0 5000 0 623 0 24459 0 56388 0 317102 0 0 0 RYAN MULHERN DIRECTOR OF ADMISSIONS 132559 0 0 0 0 0 14108 0 100734 0 247401 0 0 0 GEORGE STAPLES DIRECTOR OF OPERATIONS 180827 0 1000 0 1575 0 18183 0 32141 0 233726 0 0 0 ELIZABETH MCGRATH DIRECTOR OF FINANCE 191233 0 0 0 623 0 19693 0 11930 0 223479 0 0 0 ELIZABETH BICKFORD ASSOCIATE HEAD OF SCHOOL 152024 0 2000 0 623 0 16044 0 44035 0 214726 0 0 0 MERVAN OSBORNE ASSOCIATE HEAD OF SCHOOL 154114 0 2000 0 2198 0 16255 0 34840 0 209407 0 0 0 KELLY RICHARDS DIRECTOR OF COLLEGE COUNSELING 115747 0 1000 0 1575 0 11813 0 33350 0 163485 0 0 0 JUNE BJERREGAARD DIRECTOR OF HEALTH SERVICE 107525 0 2000 0 17332 0 12751 0 10789 0 150397 0 0 0 PART I, LINE 1A THE ORGANIZATION IS A BOARDING HIGH SCHOOL. HOUSING WAS PROVIDED TO THE FOLLOWING INDIVIDUALS LISTED ON SCHEDULE J, PART II AS A NON-TAXABLE BENEFIT, INCLUDED IN COLUMN (D), FOR THE CONVENIENCE OF THE ORGANIZATION AS WELL AS A CONDITION OF EMPLOYMENT: GEORGE STAPLES, DIRECTOR OF OPERATIONS, ALEXANDRA H. CALLEN, HEAD OF SCHOOL, MERVAN OSBORNE, ASSOCIATE HEAD OF SCHOOL FOR STUDENT LIFE, ELIZABETH BICKFORD, ASSOCIATE HEAD OF SCHOOL FOR FACULTY AND SCHOOL AFFAIRS, AND JEDD WHITLOCK, DIRECTOR OF ADVANCEMENT. THE HEAD OF SCHOOL RECEIVED A TAX GROSS-UP FOR PERSONAL USE OF AUTO. THE TAX-GROSS UP WAS TREATED AS TAXABLE INCOME AND IS INCLUDED IN COLUMN (B)(III). SHE ALSO RECEIVED CLUB DUES TO ENTERTAIN FOR SCHOOL BUSINESS. THIS IS ALSO TREATED AS TAXABLE INCOME AND IS INCLUDED IN COLUMN (B)(III). PART I, LINE 7 CERTAIN EMPLOYEES WERE AWARDED BONUSES BASED ON PERFORMANCE. PART I, LINE 8 THE HEAD OF SCHOOL, CALLEN, IS IN HER INITIAL CONTRACT THAT HAS BEEN EXTENDED TO JUNE 2023. A RHODE ISLAND HEALTH & EDUCATION BUILDING CORPORATION 521300173 000000000 2014-08-28 20000000 SEE PART VI 0 0 0 B RHODE ISLAND HEALTH & EDUCATION BUILDING CORPORATION 521300173 000000000 2014-08-28 15000000 SEE PART VI 0 0 0 C RHODE ISLAND HEALTH & EDUCATION BUILDING CORPORATION 521300173 000000000 2014-08-28 10000000 SEE PART VI 0 0 0 A 2967033 20000000 69530 863470 19067000 2017 1 0 1 1 B 5069761 15000000 60589 11354482 299929 3285000 2017 1 0 1 1 C 473167 10000000 40393 9909607 50000 2017 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 1 0 0 0 0 1 B 0 1 0 1 1 0 0 0 1 C 0 1 0 1 0 0 0 0 1 A 1 B 1 C 1 SCHEDULE K, SUPPLEMENTAL INFORMATION THE PROJECTS FOR THE 2014 BONDS CONSIST OF THE FINANCING OF (1) THE PLANNING, ACQUISITION, CONSTRUCTION, EQUIPPING AND FURNISHING OF VARIOUS OF THE BORROWER'S FACILITIES LOCATED AT 372 PURGATORY ROAD IN MIDDLETOWN, RHODE ISLAND, AND ADJACENT AREAS TO BE USED IN FURTHERANCE OF THE SCHOOL'S EDUCATIONAL MISSION AND (2) THE REFINANCING OF THE OUTSTANDING DEBT OF THE SERIES 2010 AND 2003 BONDS. SCHEDULE K, PART II, LINE 11: BOND PROCEEDS WERE USED TO REFUND PRIOR ISSUES. SCHEDULE K, PART IV, LINE 2C: ARBITRAGE REBATE CALCULATIONS WERE DONE APRIL 20, 2020. JAMES BAILEY SPOUSE OF OFFICER 20697 EMPLOYMENT 0 X 44 1120422 FAIR MARKET VALUE 0 1 0 PART I, COLUMN (B): THE NUMBER OF DONATIONS OF PUBLICLY TRADED STOCK REPRESENTS THE NUMBER OF CONTRIBUTIONS RECEIVED. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD CHAIR AND THE CHAIR OF THE AUDIT COMMITTEE REVIEW A COMPLETE COPY OF THE FORM 990, INCLUDING THE SCHEDULE OF CONTRIBUTORS, BEFORE FILING WITH THE INTERNAL REVENUE SERVICE. THE AUDIT COMMITTEE REVIEWS A DRAFT OF THE FORM 990, EXCLUDING CONTRIBUTIONS, BEFORE FILING. EMAIL NOTIFICATION IS SENT TO ALL TRUSTEES INFORMING THEM THAT THE FINAL VERSION OF THE FORM 990, EXCLUDING CONTRIBUTIONS, HAS BEEN POSTED TO THE TRUSTEES' WEBSITE. FORM 990, PART VI, SECTION B, LINE 12C IN ORDER TO MONITOR AND ENFORCE COMPLIANCE OF THE POLICY, A SIGNED CONFLICT OF INTEREST POLICY IS REQUIRED ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 FOR THE HEAD OF SCHOOL'S INITIAL COMPENSATION CONTRACT IN 2017, THE ORGANIZATION USED THE PROFESSIONAL SERVICES OF A COMPENSATION ADVISOR. THIS PROCESS WAS LAST UNDERTAKEN WHEN MS. CALLEN WAS HIRED AND THE CONTRACT WAS ESTABLISHED. IN CONSULTATION WITH THE BOARD CHAIR, THE COMPENSATION COMMITTEE ANNUALLY REVIEWS THE COMPENSATION TERMS OF THE CONTRACT AND ANALYZES BENCHMARKING DATA FROM SIMILAR SCHOOLS. THE BOARD OF TRUSTEES APPROVES THE ANNUAL COMPENSATION TERMS FOR THE HEAD OF SCHOOL. TO ENSURE THAT SENIOR MANAGEMENT COMPENSATION IS IN LINE WITH THAT OF OTHER SIMILAR SCHOOLS, THE HEAD OF SCHOOL ANNUALLY REVIEWS DATA FROM SIMILAR SCHOOLS AND DISCUSSES HER DECISION MAKING PROCESS AND PERTINENT DATA WITH THE COMPENSATION COMMITTEE. DELIBERATIONS AND DECISIONS REGARDING COMPENSATION ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 1,508,267. SG HOLDINGS LLC PO BOX 1910 NEWPORT RI 028400190 464361322 FACULTY HOUSING RI 0 1943702 ST GEORGE'S SCHOOL