2021-05-10T10:22:30-05:00 2020-06-30 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2019-07-01 410693894 Breck School BREC 7633818454 123 Ottawa Ave N Minneapolis MN 55422 Ted Forbath Chief Operating Officer 7633818254 2021-05-07 1 Deb Nelson CPA P01264758 6122536500 2021-05-07 2019 2022-09-23 18:48:47Z Ted Forbath 123 Ottawa Ave N Minneapolis MN 55422 77557382 0 1194 X www.breckschool.org X 1886 MN An Episcopal college-preparatory day school for students of diverse backgrounds in grades pre-K - 12. 26 26 453 1000 -129053 -129053 2495538 7232115 37561500 37766949 2210860 720317 359333 431884 42627231 46151265 6054716 6906731 0 0 25561769 26171823 0 0 985424 10945227 11155091 42561712 44233645 65519 1917620 143817622 145805473 34686866 38577946 109130756 107227527 X Breck's mission is to prepare each student for a college whose culture is compatible with the individual's needs, interests, and abilities, help develop each student's unique talents and potential to excel by nurturing independence and self-worth and instill in each student a deep sense of social responsibility. 0 1 37478192 6906731 37766949 Breck School provides primary and secondary school academic programs for up to 1,200 students in grades pre-school through grade twelve. Breck also provides a wide range of activities for its students including athletics and academic extracurriculars, visual and performing arts, student publications and clubs. Additional services offered by Breck include online and campus stores, an ice arena, transportation service, extended day care, tutoring, and food service. 37478192 1 1 0 0 0 0 1 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 89 0 1 453 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 26 26 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X Ted Forbath 7633818454 123 Ottawa Ave N Minneapolis MN 55422 Natalia R Hernandez Head of School 40.00 X 487451 0 42488 Ted Forbath Chief Operating Officer 40.00 X 203131 0 37027 Wendy Engelman Controller 40.00 X 187893 0 29897 Heather M Shiell Advancement Director 40.00 X 179113 0 29426 Margaret Bailey Director of Lower School 40.00 X 179846 0 25643 Schuyler Fauver Director of Middle School 40.00 X 180319 0 20210 Deborah Pellant Director of Peter Clark Center 40.00 X 157814 0 33052 Thomas Taylor Director of Upper School 40.00 X 154709 0 32871 Scott Wade Director of Admissions 40.00 X 164444 0 12446 Jonathan I Nicholson Director of College Counseling 40.00 X 133784 0 31320 Brett Bergene Athletic Director 40.00 X 133804 0 18450 Mary A Healy Director of Human Resources 40.00 X 131581 0 18619 The Rt Rev Brian N Prior Board Chair 1.25 X X 0 0 0 Jill E Schurtz Board President 1.25 X X 0 0 0 Wendy Schoppert Treasurer 1.25 X X 0 0 0 Rob Holt Secretary 1.25 X X 0 0 0 Lee R Anderson Lifetime Trustee (non-voting) 1.25 X 0 0 0 Andrew B Gaillard Alumni Liaison 1.25 X 0 0 0 Joan K Rex Parents Association Liaison 1.25 X 0 0 0 G Mike Mikan Trustee 1.25 X 0 0 0 Daniel Aronson Trustee 1.25 X 0 0 0 Susan Bass Roberts Trustee 1.25 X 0 0 0 Sally Blanks Trustee 1.25 X 0 0 0 Stuart Brown Trustee 1.25 X 0 0 0 Susan F Colianni Trustee 1.25 X 0 0 0 Michael Goh Trustee 1.25 X 0 0 0 Katharine Anderson Groethe Trustee 1.25 X 0 0 0 Patricia Murphy Trustee 1.25 X 0 0 0 Michelle Grabanski Pohlad Trustee 1.25 X 0 0 0 Shannon M Evenstad Trustee 1.25 X 0 0 0 Becky L O'Grady Trustee 1.25 X 0 0 0 Ronald D Sit Trustee 1.25 X 0 0 0 Winifred S Smith Trustee 1.25 X 0 0 0 Christopher Thibodeaux Trustee 1.25 X 0 0 0 Christoph Welsh Trustee 1.25 X 0 0 0 Kelly A Baker Trustee 1.25 X 0 0 0 Richard Mattera Trustee 1.25 X 0 0 0 Jeffrey Parkhill Trustee 1.25 X 0 0 0 Sharon G Ryan Trustee 1.25 X 0 0 0 William C Schmoker Trustee until Jan. 2020 1.25 X 0 0 0 Lenesa Leana Trustee until March 2020 1.25 X 0 0 0 2293889 0 331449 27 0 1 0 Veracross LLC 401 Edgewater Place Ste 360 Wakefield MA 01880 Software Implementation 173579 Universal Protection Services LLC 161 Washington St Ste 600 Conshohocken PA 19428 Security Services 171189 Marco Technologies LLC 4510 Heatherwood Rd St Cloud MN 56301 Copier Leases/Services 110170 3 113719 7118396 346054 7232115 Student Tuition 611110 33691212 33691212 Food Service 721000 1338817 1338817 Bus Service 480000 1229869 1229869 Ice Arena 900099 260400 260400 Summer Programs 900099 225213 225213 1021438 1021438 37766949 528036 -129053 657089 31159072 112280 31020286 58785 138786 53495 192281 192281 406235 113719 100161 306074 306074 352695 226885 125810 125810 46151265 37766949 -129053 1281254 6818191 6818191 88540 88540 2012237 707229 1089026 215982 18121699 16231585 1510081 380033 1377096 1217277 132529 27290 3228565 2317867 746988 163710 1432226 1209153 182643 40430 66832 66832 49348 49348 469520 469520 1832301 1591260 228757 12284 172141 331 171810 472935 246330 195982 30623 340111 122022 192343 25746 1223 1223 1131109 916681 197037 17391 204185 202028 61 2096 387426 329124 52143 6159 253235 237104 14814 1317 3128325 3011281 103224 13820 214022 56104 157918 Student Activity Expens 530799 530799 Athletic Expenses 350398 350398 Bad Debt Expense 214389 214389 Classroom Expenses 210921 210921 1125871 868355 208973 48543 44233645 37478192 5770029 985424 18872595 21073033 2656334 2663460 5563991 454470 5642337 6154391 124361 40000 49235 110482 110242 2428924 3062426 86947512 35786981 51905558 51160531 56513040 61037685 143817622 145805473 2867187 3036977 18979917 18535691 9479861 8891247 2214795 1234143 5569355 1145106 1310533 34686866 38577946 X 50964547 49336289 58166209 57891238 109130756 107227527 143817622 145805473 1917620 -3820849 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 8.60 1 1 5.00 0 1 53245425 5131994 2019266 2626930 57769755 51633824 200930 3960483 2549812 53245425 51068080 214968 3127226 2776450 51633824 48224485 1529014 4171421 2856840 51068080 52945461 1352277 -3073856 2999397 48224485 0.03350 0.96650 0 0 1499513 1499513 70058212 26087751 43970461 12911592 8602998 4308594 2478195 1096232 1381963 51160531 Other 299228 C Fixed Income Mutual Funds 47327056 C Hedge Funds 5010024 C Limited Partnership 8401377 C 61037685 Agency and Other Reserves 823816 Asset Retirement Obligation 486717 1310533 X 35314394 -3820849 -6818191 -10639040 45953434 469520 -271689 197831 46151265 37217623 271689 271689 36945934 469520 6818191 7287711 44233645 Part II, Line 5: The organization executes the periodic monitoring, inspection, violations, and enforcement of the conservation easements pursuant to the conservation agreement. Part II, Line 9: Breck School does not report conservation easements in its financial statements as a separate item or footnote. Amounts related to the conservation easements are immaterial to the financial statements. Part V, Line 4: The Breck School endowment must be maintained permanently by Breck School. A portion of the endowment represents net assets subject to donor-imposed stipulations. The donors of these assets permit Breck School to use the income earned on related investments for specific purposes. The remainder of the endowment is unrestricted. Breck School is allowed to use the income earned on related investments for general or specific purposes, as determined by the Breck School Board of Trustees. The amount of the income used by Breck School on an annual basis is governed by Breck School's investment and spending policies. Part X, Line 2: Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 740-10, Accounting for Uncertainty in Income Taxes, provides that a tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. Income tax positions must meet a more likely-than not recognition threshold to be recognized. This interpretation also provides guidance on measurement derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. Breck School has no uncertain tax positions resulting in an accrual of tax expense or benefit. Part XI, Line 2d - Other Adjustments: Financial Aid in Expenses for Tax Reporting -6,818,191. Part XI, Line 4b - Other Adjustments: Gain on Sale of Equipment in revenue for Tax Reporting 53,495. COGS in Revenue for Tax Reporting -226,885. Loss on Uncollectable Promises to Give in Revenue for Tax Reporting -98,299. Part XII, Line 2d - Other Adjustments: Gain on Sale of Equipment in Revenue for Tax Reporting -53,495. COGS in Revenue for Tax Reporting 226,885. Loss on Uncollectable Promises to Give in Revenue for Tax Reporting 98,299. Part XII, Line 4b - Other Adjustments: Financial Aid in Expenses for Tax Reporting 6,818,191. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Policy is stated in advertising placed in newspapers, magazine, and other periodicals during the admissions period. Schedule E, Part I, Line 6 Hopkins (Minnesota) Public School District provides a per pupil allocation for textbooks/standardized tests/individualized instruction materials, pupil health services, and secondary pupil guidance/counsel services. 1 Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Investments 34444000 0 0 0 0 0 0 34444000 0 34444000 Tuition - Breck Foreign Exchange Student Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgiu 1 43646 applied to student account 0 Tuition - Breck Foreign Exchange Student East Asia and the Pacific - Australia, Brunei, Burma, Cambodia, 1 44894 applied to student account 0 1 0 1 1 1 0 Part I, Line 2: Individuals receiving disbursements under Breck School's financial aid program qualify based on need and merit. Disbursement decisions are made by the financial aid committee in accordance with school philosophy/policy which is not to discriminate on the basis of sex, race, national and/or ethnic origin. Financial aid is applied directly to individuals' accounts. Part III Accounting Method: Schedule F, Part IV: Breck School reviews its direct and indirect investments during the tax period for determining required foreign filings. Breck School makes direct and indirect transfers to foreign corporations and foreign partnerships. Breck School would file Form 926 or Form 8865 if the transfers met the requirements for filing. Breck School's transfers to foreign corporations did require filing Form 926. Breck School's transfers to foreign partnerships did not require filing Form 8865. Breck School has ownership interests in foreign corporations and foreign partnerships. Breck School would file Form 5471 or Form 8865 if the ownership met the requirements for filing. Breck Schools ownership in foreign corporations did not require filing Form 5471. Breck School's ownership in foreign partnerships did not require filing Form 8865. Breck School invests in partnerships that hold direct or indirect interests in passive foreign investment companies (PFICs). Breck School would file Form 8621s for underlying investments that generate unrelated business income. Breck School would not file Form 8621s where the investment partnerships have properly filed Form 8621s, or where the underlying investments did not generate any unrelated business income. Breck School did not require filing Form 8621. Blue & Gold Bash 519954 113719 406235 0 0 3310 40877 10475 45499 519954 113719 406235 3310 40877 10475 45499 100161 306074 1 Financial Aid 296 6818191 Part I, Line 2: Individuals receiving disbursements under Breck School's financial aid program qualify based on need and merit. Disbursement decisions are made by the financial aid committee in accordance with school philosophy/policy which is not to discriminate on the basis of sex, race, national and/or ethnic origin. Financial aid is applied directly to individuals' accounts. X 1 1 X X X X 0 0 0 0 0 0 0 1 0 Natalia R Hernandez Head of School 408132 0 0 0 79319 0 22400 0 20291 0 530142 0 0 0 Ted Forbath Chief Operating Officer 186446 0 16000 0 685 0 16939 0 20190 0 240260 0 0 0 Wendy Engelman Controller 176457 0 10800 0 636 0 15408 0 14591 0 217892 0 0 0 Heather M Shiell Advancement Director 167503 0 11000 0 610 0 14828 0 14699 0 208640 0 0 0 Margaret Bailey Director of Lower School 163264 0 16000 0 582 0 14582 0 11162 0 205590 0 0 0 Schuyler Fauver Director of Middle School 136330 0 13500 0 30489 0 12255 0 8056 0 200630 0 0 0 Deborah Pellant Director of Peter Clark Center 147780 0 9500 0 534 0 12964 0 20190 0 190968 0 0 0 Thomas Taylor Director of Upper School 140199 0 14000 0 510 0 12783 0 20190 0 187682 0 0 0 Scott Wade Director of Admissions 129975 0 14000 0 20469 0 11846 0 701 0 176991 0 0 0 Jonathan I Nicholson Director of College Counseling 120328 0 13000 0 456 0 11232 0 20190 0 165206 0 0 0 Brett Bergene Athletic Director 121379 0 12000 0 425 0 10683 0 7868 0 152355 0 0 0 Mary A Healy Director of Human Resources 117163 0 14000 0 418 0 10664 0 8056 0 150301 0 0 0 Part I, Line 1a The health/social club dues were provided to the Head of School. These were treated as taxable income. Part I, Line 7 Bonuses and other forms of variable compensation are paid to individuals based on job performance of assigned duties. A City of St Louis Park Minnesota 416005519 2012-10-24 6500000 Construction and Architecture 0 0 0 B City of Minnetonka Minnesota 416005379 2012-11-08 6500000 Construction and Architecture 0 0 0 A 4030000 6500000 6500000 2013 0 0 1 1 B 6500000 6500000 2013 0 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 A 0 0 1 0 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 A 1 B 1 Natalia R Hernandez Head of School Relocation loan to be forgiven based on terms of agreement X 100000 40000 0 1 1 40000 X 19 252065 Average Price X Miscellaneous Fundraising Donations 80 93989 FMV 0 0 1 0 Part I, Column (b): The organization reports the number of contributions in column (b). Form 990, Part III, line 3 The 2019 Coronovirus (COVID-19) was declared a global pandemic by the World Health Organization on March 11, 2020, and the related responses by public health and governmental authorities to contain its outbreak and spread adversely impacted workforces, economics, and financial markets globally. The impact on Breck School as a result of COVID-19 has been significant. Operational and programmatic changes were made to ensure that Breck programs operated in a manner that was compliant with new State and Federal guidance and regulations pertaining to COVID-19. Breck continues to closely monitor its operations, liquidity, and capital resources as a result of COVID-19. The current and future impact to Breck as a result of COVID-19 is not fully known. Form 990, Part VI, Section A, line 1 The Executive Committee shall consist of not more than thirteen members and shall include the Chair of the Board, the President, the President-Elect, the Secretary, the Treasurer, the immediate past President, and not more than seven (7) other Elective Trustees. Persons shall be nominated by the Governance Committee. The Elective Trustee members of the Executive Committee shall be elected by the Board at the annual meeting. The President shall be the chair of the Executive Committee. The past President of the Board from the immediate preceding term shall be an ex-officio member of the Executive Committee for two (2) years following the past President's term in office. All Executive Committee members are on the governing body. The Executive Committee, when the Board is not in session, shall have and may exercise the powers of the Board in the management of the business and affairs of the School, provided, however, that the Executive Committee shall not be authorized to (i) amend the School's Bylaws or Articles of Incorporation, (ii) elect voting or non-voting Trustees to the Board; or (iii) elect a Head of School. Form 990, Part VI, Section A, line 2 Board members Lee Anderson, Sr. and Katharine Anderson Groethe have a family relationship. Form 990, Part VI, Section B, line 11b The tax filings are reviewed by the COO and Controller and then provided to the Audit and Risk Management Committee for review and approval. A copy of the Form 990 will also be provided to the full board prior to filing with the IRS. Form 990, Part VI, Section B, line 12c Breck School requires all trustees, administrators and management personnel to annually complete a conflict of interest/related party questionnaire. All possible conflict disclosures are forwarded to either the Head of School or the Board of Trustees President. The conflict is reviewed by either an administrative team or the Board of Trustees to determine whether a conflict exists, and in the case of an existing conflict, whether the transaction may be authorized as just, fair and reasonable to Breck School. The person with the conflict of interest is excluded from the discussion and approval of such transaction. Form 990, Part VI, Section B, line 15 A subcommittee of the Board of Trustees evaluates the performance of the Head of School, reviews comparative compensation data of national peer groups and/or consults with an executive search firm to gain an understanding of compensation trends. The subcommittee prepares a compensation recommendation that is reviewed and approved by the full Board of Trustees. The process for determining the compensation of key employees includes an evaluation process, a review of comparative data from similar independent schools and is subject to the overall budgeted salary increase approved by the Board of Trustees. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy and financial statements are made available to the public on a case by base basis.