2021-05-12T09:00:48-05:00 2020-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FL BOSTON MA 02110 990 2019-07-01 060910420 CHOATE ROSEMARY HALL FOUNDATION INCORPORATED CHOA 2036972225 333 CHRISTIAN STREET WALLINGFORD CT 064923818 PATRICK DURIN CHIEF FINANCIAL OFFICER 2036972225 2021-05-12 1 LAURA J KENNEY P00202198 6177170831 2021-05-12 2019 2022-09-23 18:48:47Z CHOATE ROSEMARY HALL ALEXANDER CURTIS 333 CHRISTIAN STREET WALLINGFORD CT 064923818 144107853 0 X WWW.CHOATE.EDU X 1974 CT TO PROVIDE A QUALITY SECONDARY INDEPENDENT SCHOOL EDUCATION TO APPROXIMATELY 850 STUDENTS PER YEAR. 21 20 653 337 243331 0 44555813 24585827 52852784 52973346 13558705 14323591 146631 12227401 111113933 104110165 12271559 12648082 0 0 34805476 38218100 0 0 3862369 42516432 37776565 89593467 88642747 21520466 15467418 680358847 701223256 67378717 59655643 612980130 641567613 X TO PROVIDE A QUALITY SECONDARY INDEPENDENT SCHOOL EDUCATION TO APPROXIMATELY 850 STUDENTS PER YEAR. 0 0 29188113 52973346 THE SCHOOL EDUCATES (ACADEMICALLY, RESIDENTIALLY AND ATHLETICALLY) APPROXIMATELY 850 STUDENTS, GENERATING OVER $35 MILLION OF NET TUITION AND FEES, THROUGH THE EFFORTS OF DEDICATED FACULTY AND SUPPORT. 18024619 THE SCHOOL MAINTAINS ABOUT 1.4 MILLION SQUARE FEET OF RESIDENTIAL, ACADEMIC AND ATHLETIC SPACE FOR A COMMUNITY OF OVER 1,000 MEMBERS. THE MAJORITY OF THIS EXPENSE REFLECTS THE DEPRECIATION ON THE SCHOOL PROPERTY, PLANT AND EQUIPMENT, WHICH HAS A CURRENT ACCOUNTING VALUE OF $176.5 MILLION. 12648082 12648082 THE SCHOOL DISCOUNTS TUITION IN THE FORM OF FINANCIAL AID AT AN APPROXIMATE RATE OF 25% IN AN EFFORT TO RECRUIT AND RETAIN THE MOST TALENTED STUDENT BODY. THE SCHOOL RECOGNIZES THAT A DIVERSE STUDENT BODY BETTERS THE OVERALL EXPERIENCE FOR ALL INVOLVED, AND THAT WHILE NOT EVERYONE CAN CONTRIBUTE FINANCIALLY IN TERMS OF TUITION, EVERYONE HAS SOMETHING TO OFFER THE CHOATE ROSEMARY HALL COMMUNITY. 5398214 MANAGEMENT FEES FOR FOOD SERVICE AND HOUSEKEEPING EXPENSES 1237945 TRAVEL AND CONFERENCE EXPENSES 1826644 OFFICE AND INFORMATION TECHNOLOGY EXPENSES 3558729 ALL OTHER PROGRAM RELATED EXPENSES, INCLUDING ADVERTISING, ROYALTIES, INTEREST PAYMENTS, OUTSIDE RENTALS, ETC. 12021532 71882346 1 1 0 0 0 1 0 0 0 1 1 1 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 0 0 1 268 0 1 653 1 1 1 1 SP FR 0 0 0 0 0 0 0 0 0 0 X 21 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X HEATHER LAFONTAINE 2036972676 333 CHRISTIAN STREET WALLINGFORD CT 06492 ALEXANDER D CURTIS HEAD OF SCHOOL 60.00 X X 444803 0 262123 DANIEL COURCEY EXEC DIR OF DEVELOPMENT 60.00 X 329688 0 152603 RICHARD SALTZ PROJECT MANAGER/INTERIM CFO 60.00 X 226325 0 46306 JASON RAITI CIO (UNTIL 8/31/19) 40.00 X 201715 0 46117 KATHLEEN WALLACE ASSOCIATE HEAD OF SCHOOL 40.00 X 210713 0 31200 KATHRYN LEVESQUE DEAN OF FACULTY 60.00 X 156920 0 96090 MARI JONES DIR. DEVELOPMENT & ALUMNI RELATIONS 40.00 X 153839 0 45978 ANDREW SPEYER ITS DIRECTOR 40.00 X 135339 0 37929 MIRIAM COHEN MEDICAL DIRECTOR 40.00 X 146152 0 24858 WALTER SCHAEFFLER CFO (UNTIL 6/30/19) 0.00 X 113613 0 42650 KENNETH G BARTELS TRUSTEE 2.00 X 0 0 0 SAMUEL P BARTLETT TRUSTEE 2.00 X 0 0 0 DANYA ALSAADY TRUSTEE 2.00 X 0 0 0 DAVID A FRAZE TRUSTEE 2.00 X 0 0 0 GEORGE F COLONY TRUSTEE 2.00 X 0 0 0 BORJE E EKHOLM TRUSTEE 2.00 X 0 0 0 GUNTHER S HAMM TRUSTEE 2.00 X 0 0 0 LINDA J HODGE TRUSTEE 2.00 X 0 0 0 JUNGWOOK RYAN HONG TRUSTEE 2.00 X 0 0 0 DAVID R HANG TRUSTEE 2.00 X 0 0 0 VANESSA KONG KERZNER TRUSTEE 2.00 X 0 0 0 CECELIA M KURZMAN TRUSTEE 2.00 X 0 0 0 DANIEL G KELLY TRUSTEE 2.00 X 0 0 0 CAROLINE T BROWN TRUSTEE 2.00 X 0 0 0 JAMES A LEBOVITZ TRUSTEE 2.00 X 0 0 0 MARC E BROWN TRUSTEE 2.00 X 0 0 0 PETER B ORTHWEIN TRUSTEE 2.00 X 0 0 0 M ANNE SA'ADAH TRUSTEE 2.00 X 0 0 0 ALEXANDRA B AIRTH TRUSTEE 2.00 X 0 0 0 TAKASHI MURATA TRUSTEE 2.00 X 0 0 0 2119107 0 785854 39 1 1 0 SHAWMUT DESIGN AND CONSTRUCTION 560 HARRISON AVE SUITE 200 BOSTON MA 02118 CONSTRUCTION 17017758 SAGE DINING SERVICES INC 1402 YORK ROAD SUITE 100 LUTHERVILLE MD 21093 FOOD SERVICE 2367149 ABM JANITORIAL SERVICES PO BOX 419860 BOSTON MA 022419860 CAMPUS JANITORIAL SERVICES 2070138 CLARK COMPANIES PO BOX 427 DELHI NY 13753 CONSTRUCTION 1724155 B & G PIPING COMPANY 92 ERNA AVENUE MILFORD CT 06460 CONSTRUCTION 714922 43 24585827 4707524 24585827 TUITION AND FEES 611710 48481187 48481187 SUMMER PROGRAMS 611710 3573598 3573598 STUDENT ACTIVITIES 611710 429770 429770 APPLICATION FEES 611710 293250 293250 HEALTH CTR/COUNSELING 611710 22429 22429 173112 173112 52973346 9018142 -84752 9102894 44902022 120198 39716771 0 5185251 120198 5305449 120198 5185251 249273 280917 -31644 -31644 INSURANCE PROCEEDS 900099 12051160 12051160 EVENT AND RINK RENTALS 900099 207885 207885 12259045 104110165 52973346 243331 26307661 12648082 12648082 1677047 180839 612946 883262 51873 6407 22733 22733 23415720 20116570 1947113 1352037 3317502 2742531 244863 330108 7985817 4668020 3078094 239703 1770141 1473745 151333 145063 5497788 5398214 80036 19538 318012 159006 159006 109350 109350 4958865 4958865 2354809 1860855 159943 334011 74433 12864 61569 2314728 1592889 538438 183401 240612 233754 5271 1587 5610 5610 2035046 1906604 110425 18017 1311842 1149612 28950 133280 107299 88333 12535 6431 1161897 1121579 29861 10457 12743981 12182497 446788 114696 1207555 1105819 79490 22246 MAINTENANCE & REPAIR 2896480 2829699 49461 17320 GIFTS & RECOGNITION 130513 102421 4755 23337 MINOR EQUIP. PURCHASE 109985 103827 4175 1983 OUTSIDE RENTALS 86101 84437 1186 478 111659 108132 846 2681 88642747 71882346 12898032 3862369 19151773 26949307 51835174 52420198 34886 0 44232 28675 2644040 3638280 343642450 167121570 177904447 176520880 64275930 68846719 364136136 361406662 332229 11412535 680358847 701223256 10568016 9623701 14914846 8500043 31875000 38446064 10020855 3085835 67378717 59655643 X 242934667 278690522 370045463 362877091 612980130 641567613 680358847 701223256 X 15467418 14262934 -1142869 X X 0 1 X 1 0 X 29619465 36334503 37816116 44555813 24585827 172911724 29619465 36334503 37816116 44555813 24585827 172911724 12591454 160320270 1972367 3256158 4053466 11159256 9102894 29544141 202455865 273481496 0.79190 0.82730 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 550000 6547771 1 1 386090192 5875295 27397155 6824155 11364715 4921574 396252198 389328192 7225318 17119949 6274045 13442158 7867064 386090192 371271117 6715201 37250437 5773281 15443144 4692138 389328192 343101418 2923744 51360514 5306686 16467573 4340300 371271117 353608160 7520998 -120848 5038970 10333975 2533947 343101418 0.28000 0.38000 0.34000 0 0 2622278 2622278 294378997 133957581 160421416 28481600 22625031 5856569 18159575 10538958 7620617 176520880 ALTERNATIVE INVESTMENTS 352083281 F SPLIT INTEREST AGREEMENTS 9323381 F 361406662 LIABILITY UNDER SPLIT-INTEREST AGREEMENTS 2889725 AGENCY FUNDS 196110 3085835 100156072 13625648 -10086 13615562 86540510 4921573 12648082 17569655 104110165 71568581 495490 495490 71073091 4921573 12648082 17569655 88642746 PART V, LINE 4: THE INTENDED USE OF THE ENDOWMENT FUNDS IS TO SUPPORT THE ORGANIZATION'S MISSION OF PROVIDING A QUALITY EDUCATION TO STUDENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST OBLIGATIONS 253,715. BENEFITS PAID ON ANNUITY -505,576. POSTAGE RECHARGE -39,141. COST OF GOODS SOLD 280,916. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID RECLASS 12,648,082. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD RECLASS 280,916. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 253,715. POSTAGE RECLASS -39,141. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID RECLASS 12,648,082. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 A STATEMENT OF CHOATE'S NON-DISCRIMINATION POLICY IS INCLUDED IN ALL BROCHURES AND CATALOGS PERTAINING TO APPLICATIONS, FINANCIAL AID AND ENROLLMENT MATERIALS UTILIZED DURING STUDENT RECRUITMENT, MATRICULATION AND RE-ENROLLMENT. IT IS POSTED IN MULTIPLE LOCATIONS ON OUR WEBSITE, INCLUDING OUR HOMEPAGE, AND IS SHARED WITH ALL PROSPECTIVE DOMESTIC AND INTERNATIONAL CONSTITUENCIES. EUROPE (INCLUDING ICELAND AND GREENLAND) 0 2 PROGRAM SERVICES STUDY ABROAD PROGRAM 287715 MIDDLE EAST AND NORTH AFRICA 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 23217 0 0 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 143667655 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 INVESTMENTS 2182898 SUB-SAHARAN AFRICA 0 0 INVESTMENTS 3309235 0 2 0 0 0 2 149470720 0 149470720 1 0 1 1 1 0 PART III ACCOUNTING METHOD: 1 FINANCIAL AID - REGULAR SESSION 269 12243857 FINANCIAL AID - REDUCTION IN TUITION FINANCIAL AID - SUMMER SESSION 115 404225 FINANCIAL AID - REDUCTION IN TUITION PART III LINE 1 FINANCIAL AID IS AWARDED IN AN OBJECTIVE AND NONDISCRIMATORY MANNER. X X X 0 1 X X X 0 1 0 0 0 0 0 0 0 ALEXANDER D CURTIS HEAD OF SCHOOL 444803 0 0 0 0 0 136000 0 126123 0 706926 0 0 0 DANIEL COURCEY EXEC DIR OF DEVELOPMENT 329688 0 0 0 0 0 104150 0 48453 0 482291 0 0 0 RICHARD SALTZ PROJECT MANAGER/INTERIM CFO 226325 0 0 0 0 0 34348 0 11958 0 272631 0 0 0 JASON RAITI CIO (UNTIL 8/31/19) 201715 0 0 0 0 0 32050 0 14067 0 247832 0 0 0 KATHLEEN WALLACE ASSOCIATE HEAD OF SCHOOL 209443 0 0 0 1270 0 31200 0 0 0 241913 0 0 0 KATHRYN LEVESQUE DEAN OF FACULTY 156443 0 0 0 477 0 23250 0 72840 0 253010 0 0 0 MARI JONES DIR. DEVELOPMENT & ALUMNI RELATIONS 153839 0 0 0 0 0 24666 0 21312 0 199817 0 0 0 ANDREW SPEYER ITS DIRECTOR 135339 0 0 0 0 0 21638 0 16291 0 173268 0 0 0 MIRIAM COHEN MEDICAL DIRECTOR 146152 0 0 0 0 0 13500 0 11358 0 171010 0 0 0 WALTER SCHAEFFLER CFO (UNTIL 6/30/19) 113613 0 0 0 0 0 19125 0 23525 0 156263 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL IS ALLOWED FIRST CLASS TRAVEL UNDER LIMITED CIRCUMSTANCES CONNECTED TO SCHEDULE AND DISTANCE TRAVELED. THIS IS NOT TREATED AS TAXABLE. THE FACULTY RECEIVE HOUSING IN ACCORDANCE WITH THE SCHOOL'S HOUSING POLICY. THE SCHOOL'S SENIOR LEADERSHIP AND FACULTY RESIDE ON CAMPUS AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER. AS A CONDITION OF EMPLOYMENT, THE SCHOOL REQUIRES SENIOR LEADERSHIP TO RESIDE ON CAMPUS AND CONSIDER THEIR HOME AS AN INTEGRAL PART OF THE CAMPUS ENVIRONMENT; TO OPEN THEIR HOME FOR STUDENTS AND ADVISEES; AND TO ASSUME DORMITORY OR OTHER RESIDENTIAL LIFE SUPERVISORY RESPONSIBILITIES AS ASSIGNED. SENIOR LEADERSHIP IS ON CALL 24/7. THE VALUE OF HOUSING IS REPORTED IN SCHEDULE J, PART II, COLUMN (D) AND IS TREATED AS NON-TAXABLE. ALL FACULTY ARE REQUIRED TO PROVIDE SERVICES TOWARD THE RESIDENTIAL LIFE PROGRAM AT CHOATE ROSEMARY HALL. THE SCHOOL DOES NOT REIMBURSE EXPENSES FOR HOUSING. THE HEAD OF SCHOOL MAY SEEK REIMBURSEMENT FOR CERTAIN PERSONAL PROFESSIONAL SERVICES SUCH AS FINANCIAL PLANNING AND TAX COUNSELING WHICH ARE TREATED AS TAXABLE. THE HEAD OF SCHOOL RESIDENCE RECEIVES HOUSEKEEPING SERVICES IN CONNECTION WITH ITS REGULAR USE FOR SCHOOL EVENTS. PART I, LINE 1B THE SCHOOL REQUIRES THAT ITS SENIOR LEADERSHIP RESIDE ON CAMPUS AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER. ALL FACULTY ARE REQUIRED TO PROVIDE SERVICES TOWARD THE RESIDENTIAL LIFE PROGRAM AT CHOATE ROSEMARY HALL. THE SCHOOL DOES NOT REIMBURSE EXPENSES FOR HOUSING AND PERSONAL SERVICES. FACULTY RECEIVE HOUSING AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER AND IN ACCORDANCE WITH THE SCHOOL'S FACULTY HOUSING POLICY. PART I, LINE 4B THE HEAD OF SCHOOL AND EXECUTIVE DIRECTOR OF DEVELOPMENT PARTICIPATE IN A 457(F) PLAN WITH A SUBSTANTIAL RISK OF FORFEITURE. A CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 060806186 20775DGG1 2020-02-28 38539080 SERIES F BONDS WERE ISSUED TO REFINANCE SERIES E BONDS 0 0 0 A 38539080 467579 38071501 2008 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 1 0 0 0 0 0 1 A 1 ELIZABETH FECKO-CURTIS OFFICER'S SPOUSE 45466 EMPLOYMENT 0 X 130 4707524 FMV 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 MANAGEMENT OF THE SCHOOL DISTRIBUTES THE DRAFT COPY OF THE FORM 990 TO THE ENTIRE BOARD OF TRUSTEES. MANAGEMENT IS AVAILABLE FOR ANY QUESTIONS BOARD MEMBERS MAY HAVE. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL'S AUDIT, RISK MANAGEMENT AND COMPLIANCE COMMITTEE DOES AN INVENTORY OF EACH RESPONDENT'S CONFLICT OF INTEREST QUESTIONNAIRE BEFORE EACH APRIL MEETING. THE COMMITTEE ENSURES THERE IS A 100% RESPONSE RATE. THE TRUSTEESHIP COMMITTEE FOLLOWS UP ON CONFLICTS THAT ARE DISCLOSED, IF ANY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES MEETS ONCE A YEAR TO DISCUSS AND REVIEW THE HEAD OF SCHOOL'S AND SENIOR ADMINISTRATIONS' COMPENSATION. THE CFO PROVIDES COMPENSATION HISTORY AND COMPARISONS FROM ABOPS AND/OR NACUBO OR OTHER THIRD PARTY SOURCES TO THE COMMITTEE FOR THE HEAD OF SCHOOL AND SENIOR ADMINISTRATORS AND MAKES A RECOMMENDATION OF INCREASES BASED ON FACULTY COMPENSATION POOL (PERCENT OF INCREASE). THE DELIBERATIONS AND DECISIONS REGARDING COMPENSATION ARE DOCUMENTED. FROM TIME-TO-TIME, A PRIVATE CONSULTANT IS CONTRACTED TO PERFORM INDEPENDENT ANALYSIS OF COMPENSATION PACKAGES AND ENSURE COMPLIANCE WITH IRS REGULATIONS OF THE INTERMEDIATE SANCTIONS ACT AND REBUTTABLE PRESUMPTION OF REASONABLENESS TESTS. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS FORM 990 AND AUDITED FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. THE SCHOOL DOES NOT MAKE ITS GOVERNING DOCUMENTS OR ITS CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: BENEFITS PAID ON ANNUITY OBLIGATIONS -505,576. UNREALIZED GAIN ON INTEREST RATE SWAP -637,293. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS AN AUDIT, RISK MANAGEMENT AND COMPLIANCE COMMITTEE WHICH OVERSEES THE WORK OF ITS INDEPENDENT ACCOUNTANTS, AND IS RESPONSIBLE FOR THEIR SELECTION. CHARITABLE REMAINDER TRUST (1) CHARITABLE TRUST CT N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0