2020-11-16T08:45:48-06:00 2020-06-30 061009205 BLUM SHAPIRO & COMPANY PC TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2019-07-01 060646687 KENT SCHOOL KENT 8609276046 PO BOX 2006 KENT CT 06757 JEFFREY D CATALDO ASSISTANT TREASURER & CFO 8609276046 2020-11-11 1 LAURA J KENNEY P00202198 6177170831 2020-11-11 64.251.63.131 2020-11-11 17:40:16 ES P B49528270D5C596423F272EFB472E66EFBF6AFC8 3C3F3A9A6A2C4A7FAF67B2138946307825C80BAE 2019 2021-01-29 14:40:06Z JEFFREY D CATALDO PO BOX 2006 KENT CT 06757 57230503 0 X WWW.KENT-SCHOOL.EDU X 1906 CT NON-PROFIT, INDEPENDENT, PREPARATORY SCHOOL; EDUCATING APP. 520 BOARDING AND 50 DAY STUDENTS. 21 20 307 50 97246 0 5696034 6711628 39061528 40246466 6034844 5245407 73496 48342 50865902 52251843 8161890 8502105 0 0 18867020 19664594 0 0 2513804 18171428 17779017 45200338 45945716 5665564 6306127 199678302 206602190 54355889 56016086 145322413 150586104 ESTABLISH AND MAINTAIN A SCHOOL WHICH SHALL PROVIDE FOR BOYS AND GIRLS OF ABILITY AND CHARACTER AN ACADEMIC COURSE OF INSTRUCTION. SIMPLICITY OF LIFE, SELF-RELIANCE, AND DIRECTNESS OF PURPOSE ARE TO BE ESPECIALLY ENCOURAGED. 0 0 36704600 8502105 40222041 INDEPENDENT, CO-EDUCATIONAL PREPARATORY SCHOOL; EDUCATING BOTH BOARDING AND DAY STUDENTS. SIMPLICITY OF LIFE, SELF-RELIANCE AND DIRECTNESS OF PURPOSE ARE TO BE ESPECIALLY ENCOURAGED IN BOTH BOY AND GIRL STUDENTS. 36704600 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 1 1 0 0 0 1 145 0 1 307 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 0 0 X 21 20 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X JEFFREY D CATALDO ASST TREAS BUSINESS MANAGER & CFO 8609276046 PO BOX 2006 KENT CT 067570640 RICHARDSON W SCHELL HEADMASTER 60.00 X 446768 0 162064 JEFFREY D CATALDO ASST. TREASURER & CFO 50.00 X 297863 0 140778 CATHERINE MAZZA DEAN OF STUDENTS 50.00 X 155428 0 62314 KATHLEEN NADIRE DIRECTOR OF DEVELOPMENT 50.00 X 164800 0 36388 BRIAN SULLIVAN DIRECTOR OF ADMISSIONS 50.00 X 146416 0 34503 TODD MARBLE DIRECTOR OF PLANNED GIVING 50.00 X 132657 0 41710 JOSEPH WOLINSKI DIRECTOR OF FACILITIES 50.00 X 109097 0 54328 DIANA YAMMIN DIRECTOR OF STUDIES 50.00 X 123458 0 22738 DENEEN MANTEGANI ASST. SECRETARY & DIR. OF DEVELOPMENT 50.00 X 117650 0 12661 BENJAMIN WARING PARTRIDGE IV PRESIDENT & TRUSTEE 2.00 X X 0 0 0 ROBERT S ANDERSON TREASURER & TRUSTEE 2.00 X X 0 0 0 AMY MACARTNEY FREIDENRICH SECRETARY & TRUSTEE 2.00 X X 0 0 0 ANDREW A BOGLE TRUSTEE 2.00 X 0 0 0 FREDERIC A BOURKE III TRUSTEE 2.00 X 0 0 0 JOHN HARVEY TRUSTEE 2.00 X 0 0 0 SIR RICHARD B DEARLOVE TRUSTEE 2.00 X 0 0 0 PETER W GETSINGER TRUSTEE 2.00 X 0 0 0 ROBERT F HOERLE TRUSTEE 2.00 X 0 0 0 HENRIK VANDERLIP TRUSTEE 2.00 X 0 0 0 LORD JONATHAN ROTHERMERE TRUSTEE 2.00 X 0 0 0 KIMBERLY BRAINARD NAYLOR TRUSTEE 2.00 X 0 0 0 WILLIAM W WURTS TRUSTEE 2.00 X 0 0 0 MAGALEN C WEBERT TRUSTEE 2.00 X 0 0 0 N ROGAN DONELLY TRUSTEE 2.00 X 0 0 0 DR ERNEST W FRANKLIN IV TRUSTEE 2.00 X 0 0 0 JAMES A LAWRENCE TRUSTEE 2.00 X 0 0 0 DONALD J HERREMA TRUSTEE 2.00 X 0 0 0 MELISSA ENTWISTLE ARONSON TRUSTEE 2.00 X 0 0 0 JESSE B KIMBALL TRUSTEE 2.00 X 0 0 0 JOHN I WILLIAMS JR TRUSTEE 2.00 X 0 0 0 ALICE C FRELINGHUYSEN TRUSTEE UNTIL 10/19 2.00 X 0 0 0 HELEN M PARDOE TRUSTEE UNTIL 10/19 2.00 X 0 0 0 LYNN DOE SHIPWAY TRUSTEE UNTIL 10/19 2.00 X 0 0 0 RENE A LACERTE TRUSTEE UNTIL 10/19 2.00 X 0 0 0 JAMES MCNULTY TRUSTEE UNTIL 10/19 2.00 X 0 0 0 HAKAN N WOHLIN TRUSTEE UNTIL 10/19 2.00 X 0 0 0 ANN DICKINSON TRUSTEE UNTIL 10/19 2.00 X 0 0 0 WILLIAM C PETTY III TRUSTEE UNTIL 10/19 2.00 X 0 0 0 1694137 0 567484 16 0 1 0 SLAM COLLAB INC 80 GLASTONBURY BLVD GLASTONBURY CT 06033 ARCHITECT/ DESIGN BUIL 2214805 US FOODSERVICE PO BOX 642554 PITTSBURGH PA 15264 FOOD DISTRIBUTOR 845525 ABM JANITORIAL SERVICES PO BOX 1534 NEW YORK NY 10008 CLEANING SERVICE 717802 SIEMENS INDUSTRY INC PO BOX 2134 CAROL STREAM IL 601322134 SYSTEMS MANUFACTURER 508330 DAY PITNEY LLP PO BOX 416234 BOSTON MA 022416234 LEGAL SERVICES 260582 12 10262 6701366 496742 6711628 TUITION & RELATED SERV. 611710 39578478 39578478 OTHER PROGRAM RELATED FEES 611710 337179 337179 SUMMER RENTAL INCOME 531190 306384 306384 MEMBERSHIP DUES 713940 24425 24425 40246466 2220256 -79485 2299741 7764275 152306 4891430 0 2872845 152306 3025151 152306 2872845 135572 87230 48342 48342 52251843 40222041 97246 5220928 8502105 8502105 1205788 237904 665887 301997 146958 146958 12576319 10876733 939357 760229 1511971 1228867 170368 112736 3256051 2853143 261578 141330 967507 786349 109018 72140 505134 505134 75400 75400 100000 100000 497563 497563 27140 27140 19768 19768 337419 96859 69909 170651 194896 114132 12061 68703 5494332 5123516 140566 230250 359089 301120 23243 34726 17438 17438 703093 660516 42577 3836636 3096165 560149 180322 428929 428929 EQUIP. RENTAL & MAINT. 1819629 1619787 140556 59286 FOOD 552168 528939 23229 BAD DEBT EXPENSE 132456 132456 CATALOGUE 4510 4510 2673417 526997 1825001 321419 45945716 36704600 6727312 2513804 21040746 22969948 4035696 5570751 243512 147876 161250 117403 1018554 1183342 132920176 71773190 60009335 61146986 88738513 90423082 24430696 25042802 199678302 206602190 5412322 3344302 21084726 19861782 25670997 29696391 2187844 3113611 54355889 56016086 X 55971038 56248714 89351375 94337390 145322413 150586104 199678302 206602190 X 6306127 -1101062 58626 X 0 1 X 1 0 X 3606371 7589153 9856381 5696034 6711628 33459567 3606371 7589153 9856381 5696034 6711628 33459567 6353948 27105619 1131283 1461568 1698391 2389088 2299741 8980071 414903 143699 150809 166014 135572 1010997 43450635 187106500 0.62380 0.64030 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SALE OF INVENTORY - 2015 AMOUNT: $ 414,903. 2016 AMOUNT: $ 143,699. 2017 AMOUNT: $ 150,809. 2018 AMOUNT: $ 166,014. 2019 AMOUNT: $ 135,572. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 100000 100000 0 PART II-B, LINE 1 KENT SCHOOL HAS RETAINED JACK FERGUSON ASSOCIATES, INC. TO REPRESENT THE SCHOOL'S CONCERNS BEFORE THE U.S. CONGRESS AND PROVIDE PROFESSIONAL SERVICES INCLUDING, BUT NOT LIMITED TO, MEETINGS, MEMORANDA, EMAILS/TEXTS AND TELEPHONE CONVERSATIONS WITH U.S. SENATORS AND CONGRESSMEN AND THEIR STAFF, CONGRESSIONAL COMMITTEE STAFF, ADMINISTRATION REPRESENTATIVES, ADMINISTRATORS OF KENT SCHOOL IN PREPARATION FOR AND MONITORING OF CONGRESSIONAL HEARINGS AND LEGISLATIVE SESSIONS; PREPARATION OF CORRESPONDENCE AND MEMORANDA REGARDING THE ABOVE, PREPARATION OF BILLING, AND MAINTAINING, ON BEHALF OF KENT SCHOOL, A PROFESSIONAL WORKING RELATIONSHIP WITH THE U.S. CONGRESS AND THE U.S. GOVERNMENT. 99610169 7739039 3957687 688783 1962067 108656045 89590339 4021741 8454089 627659 1828341 99610169 76832377 7585549 7759413 365268 2221732 89590339 65436705 5996522 7889150 175465 2314535 76832377 67427989 2363278 -1170840 806601 2377121 65436705 0.20240 0.62150 0.17610 0 0 799348 799348 106079658 52013150 54066508 14259973 12558000 1701973 11781197 7202040 4579157 61146986 ALTERNATIVE INVESTMENTS 17933561 F REAL ESTATE 6250000 F SPLIT INTEREST AGREEMENTS 859241 F 25042802 ACCRUED PENSION EXPENSE 2646580 POOLED INCOME FUND LIABILITY 140326 LIABILITY UNDER SPLIT INTEREST AGREEMENTS 326705 3113611 40942264 -1101062 151750 -949312 41891576 497563 9862704 10360267 52251843 35672679 87230 87230 35585449 497563 9862704 10360267 45945716 PART V, LINE 4: THE INTENDED USE OF THE ORGANIZATION'S ENDOWMENT FUNDS IS TO SUPPORT THE SCHOOL'S EDUCATIONAL MISSION, INCLUDING SUPPORT OF SCHOLARSHIPS, STUDENT SERVICES, FACULTY, ACADEMIC AND EXTRACURRICULAR PROGRAMS, FACILITIES, AND GENERAL ADMINISTRATION OF THE SCHOOL. THE SCHOOL'S INVESTMENT POLICY HAS THE OBJECTIVE OF PROVIDING A PREDICTABLE STREAM OF FUNDING TO SCHOOL PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN PURCHASING POWER OF THE ENDOWMENT ASSETS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOOD SOLD 87,230. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 64,520. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID/TUITION REMISSION 9,862,704. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 87,230. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID/TUITION REMISSION 9,862,704. 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 NOTICE OF OUR NONDISCRIMINATORY POLICY AS TO STUDENTS WAS PUBLISHED IN THE HARTFORD COURANT. IN ADDITION, WE POST A NONDISCRIMINATION STATEMENT ON OUR WEBSITE. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM ADMISSIONS/ATHLETICS 18593 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM ADMISSIONS 9442 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM ADMISSIONS 11506 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 PROGRAM ADMISSIONS 10027 NORTH AMERICA (CANADA/MEXICO) 0 0 PROGRAM ADMISSIONS 519 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 5837907 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 9700 0 0 0 0 0 0 5897694 0 5897694 1 0 1 1 0 1 PART III ACCOUNTING METHOD: 1 STUDENT FINANCIAL AID 237 8502105 WAIVE TUITION, FEES, AND OTHER CHARGES FOR THOSE STUDENTS WHO QUALIFY FOR AID. PART I, LINE 2: FINANCIAL AID IS AVAILABLE FOR QUALIFIED STUDENTS ON THE BASIS OF NEED DETERMINED BY THE SCHOOL'S GUIDELINES WHICH PROVIDE A FINANCIAL AID NEED ANALYSIS BASED ON CONFIDENTIAL INFORMATION PROVIDED BY FAMILIES. THE SCHOLARSHIPS ARE AWARDED IN AN OBJECTIVE AND NONDISCRIMINATORY MANNER. ALL SCHOLARSHIPS ARE MADE DIRECTLY AS CREDITS AGAINST STUDENT ACCOUNTS AND NO CASH REFUNDS ARE ISSUED FOR ANY PURPOSE. X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 RICHARDSON W SCHELL HEADMASTER 443243 0 0 0 3525 0 110780 0 51284 0 608832 0 0 0 JEFFREY D CATALDO ASST. TREASURER & CFO 294925 0 0 0 2938 0 33275 0 107503 0 438641 0 0 0 CATHERINE MAZZA DEAN OF STUDENTS 155428 0 0 0 0 0 52818 0 9496 0 217742 0 0 0 KATHLEEN NADIRE DIRECTOR OF DEVELOPMENT 164800 0 0 0 0 0 17996 0 18392 0 201188 0 0 0 BRIAN SULLIVAN DIRECTOR OF ADMISSIONS 146416 0 0 0 0 0 16101 0 18402 0 180919 0 0 0 TODD MARBLE DIRECTOR OF PLANNED GIVING 132657 0 0 0 0 0 15147 0 26563 0 174367 0 0 0 JOSEPH WOLINSKI DIRECTOR OF FACILITIES 109097 0 0 0 0 0 13446 0 40882 0 163425 0 0 0 PART I, LINE 1A BUSINESS CLASS TRAVEL IS PROVIDED FOR THE HEADMASTER ON CERTAIN EUROPEAN TRIPS. CERTAIN OFFICERS AND OTHER EMPLOYEES, INCLUDING THE HEADMASTER, ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. A CLEANING SERVICE IS PROVIDED FOR THE NONRESIDENT AREAS OF THE HEADMASTER'S RESIDENCE USED FOR ENTERTAINING. THESE ARE ALL TREATED AS NONTAXABLE BENEFITS. PART I, LINE 4B THE SCHOOL PROVIDES THE HEADMASTER WITH A NONQUALIFIED DEFERRED COMPENSATION PLAN. THE PLAN HAS A SUBSTANTIAL RISK OF FORFEITURE. NO AMOUNTS WERE CONTRIBUTED INTO THIS PLAN FOR FISCAL YEAR 2020. A CHEFA 060806186 2017-05-16 18800000 REFUND EXISTING DEBT & ISSUANCE OF NEW DEBT FOR BUILDING AND EQUIPMENT. 0 0 0 B CHEFA 060806186 20774YTY3 2014-11-13 12765386 REFUND EXISTING DEBT 0 0 0 C CHEFA 060806186 2020-05-28 5615000 ISSUANCE OF NEW DEBT FOR BUILDINGS 0 0 0 A 18812198 3262198 15550000 2017 1 0 1 1 B 7465386 12765386 255243 12510143 2014 1 0 1 1 C 5615586 112302 5503284 0 0 0 0 A 0 0 0 0 0.01000 0.00000 0.01000 0 0 1 B 0 0 0 0 0.01000 0.00000 0.01000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 1 0 0 0 1 B 0 0 1 1 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 PART I, LINE A, COLUMN (F) BOND ISSUES: DESCRIPTION OF PURPOSE: REFUND EXISTING DEBT & ISSUANCE OF NEW DEBT FOR BUILDING AND EQUIPMENT. PART IV, LINE 2C, COLUMN (B) ARBITRAGE: YES. DATE OF REBATE COMPUTATION = NOV. 13, 2019 BEN NADIRE SPOUSE OF OFFICER 146958 COMPENSATION 0 SCHEDULE L, PART IV: EMPLOYMENT OF INTERESTED PERSONS IS REVIEWED AND APPROVED AS APPROPRIATE BASED ON THE INDIVIDUAL'S ABILITY TO PERFORM THE JOB. X 36 473742 FMV X HORSE 2 23000 FMV 1 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS LISTED (36) REPRESENTS THE NUMBER OF DONATIONS OF PUBLICLY-TRADED STOCK. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION CONSIST OF THE HEADMASTER AND THE CURRENT MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE ORGANIZATION VOTE ON THE TRUSTEE NOMINATIONS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS VOTE ON AND APPROVE DECISIONS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 AND ALL RELATED SCHEDULES ARE REVIEWED WITH THE CHAIR OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. THE AUDIT CHAIR HAS RESPONSIBILITY FOR ENSURING BOTH ACCURATE AND COMPLETE FINANCIAL AND TAX DISCLOSURE. ONCE FORM 990 IS APPROVED BY THE AUDIT CHAIR, FORM 990, EXCLUDING THE SCHEDULE B, IS PROVIDED TO ALL VOTING MEMBERS OF THE BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE SCHOOL SURVEYS THE FULL BOARD OF TRUSTEES TO DETERMINE IF A CONFLICT OF INTEREST EXISTS. THE PROCESS IS REVIEWED BY BOTH THE HEADMASTER'S OFFICE AND THE BUSINESS MANAGER'S OFFICE TO CONFIRM NO CONFLICT OF INTEREST OR TO REVIEW THE POSSIBLE CONFLICT AND RESOLVE AS APPROPRIATE. ALL CONFLICTS MUST BE VOTED ON AND APPROVED BY THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION FOR THE HEADMASTER IS DETERMINED BY A COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE COMMITTEE WILL CONSIDER THE SKILL SET OF THE HEADMASTER, THE EXPERIENCE LEVEL OF THE HEADMASTER AND WILL BENCHMARK CURRENT COMPENSATION AND PROPOSED COMPENSATION AGAINST OTHER HEADS OF SCHOOL IN OUR PEER GROUP. FURTHER, THE COMMITTEE, IF IT DEEMS APPROPRIATE, WILL LOOK TO THE ADVICE OF A THIRD PARTY CONSULTANT TO VALIDATE COMPENSATION. THE COMMITTEE WILL THEN MAKE A RECOMMENDATION AS TO THE COMPENSATION WHICH WILL BE APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD. FOR OTHER OFFICERS AND KEY EMPLOYEES, THE BUSINESS MANAGER AND THE HEADMASTER WILL REVIEW COMPENSATION IN CONJUNCTION WITH JOB RESPONSIBILITY, SKILL SET AND EXPERIENCE. THE JOB WILL THEN BE BENCHMARKED AGAINST OTHER POSITIONS AT OTHER SCHOOLS WITHIN OUR PEER GROUP. THE PROPOSED COMPENSATION WILL THEN BE DISCUSSED AS NECESSARY WITH MEMBERS OF THE BOARD'S EXECUTIVE COMMITTEE. IN THE RECENT PAST, A THIRD PARTY CONSULTANT HAS NOT BEEN USED TO SET THE COMPENSATION FOR OTHER OFFICERS OR KEY EMPLOYEES. THE REVIEW AND APPROVAL OF THE COMPENSATION OCCURS ANNUALLY, IN ADVANCE OF THE START OF EACH FISCAL YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL'S BY LAWS, CERTIFICATE OF INCORPORATION, AUDITED FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND ALL TAX RELATED DOCUMENTATION WILL BE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN PENSION LIABILITY -1,144,659. CHANGE IN NET ASSETS DUE TO SETTLEMENT 1,150,000. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 64,520. CHANGE IN DONOR RESTRICTED NET ASSETS -11,235. POOLED INCOME FUND CHARITABLE TRUST CT T 1 CHARITABLE REMAINDER TRUST CHARITABLE TRUST CT T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0