2020-01-22T08:08:40-06:00 2019-06-30 221478099 COHNREZNICK LLP 350 CHURCH STREET 12TH FLOOR HARTFORD CT 06103 990 2018-07-01 141413770 MILLBROOK SCHOOL MILL 8456778261 131 MILLBROOK SCHOOL ROAD MILLBROOK NY 12545 JEFFREY SMITH COO 8456778261 2020-01-14 1 LORI ROTHE YOKOBOSKY CPA P01273422 9592007000 2020-01-14 209.59.242.22 2020-01-14 12:07:14 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 F9BA0E82A6D947CC92540FBC56E8B73643681DA5 2018 2020-09-23 17:36:50Z DREW CASERTANO 131 MILLBROOK SCHOOL ROAD MILLBROOK NY 12545 60957918 0 X WWW.MILLBROOK.ORG X 1932 NY MILLBROOK SCHOOL IS A COEDUCATIONAL, COLLEGE PREPARATORY SCHOOL WHICH OFFERS COLLEGE PREPARATORY EDUCATION TO ITS BOARDING AND DAY STUDENTS. 23 22 201 0 65302 -61 10856370 6629269 20135505 21206687 1976792 901446 42350 56655 33011017 28794057 3662479 3933148 0 0 11041315 11689646 100701 50093 1784544 9935015 10594975 24739510 26267862 8271507 2526195 134017566 137034789 27195427 26574759 106822139 110460030 X MILLBROOK SCHOOL IS A SMALL, COEDUCATIONAL, COLLEGE PREPARATORY BOARDING SCHOOL WHERE CLOSE, NURTURING, AND STIMULATING RELATIONSHIPS BETWEEN STUDENTS AND THEIR TEACHERS HAVE BEEN THE SCHOOL'S HALLMARK SINCE ITS FOUNDING. OUR GOAL IS TO PROMOTE IN EACH STUDENT THE INTELLECTUAL, EMOTIONAL, SPIRITUAL, AND PHYSICAL GROWTH WHICH WILL LEAD TO A LIFE BOTH INDIVIDUALLY SATISFYING AND VALUABLE TO THE GREATER SOCIETY. 0 0 21364401 3933148 21202892 INDEPENDENT SECONDARY EDUCATION FOR APPROXIMATELY 328 BOARDING AND DAY STUDENTS. 21364401 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 0 1 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 1 102 0 1 201 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 23 22 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 NY X JEFFREY SMITH 8456778261 131 MILLBROOK SCHOOL ROAD MILLBROOK NY 12545 FRANCISCO L BORGES TRUSTEE 1.00 X 0 0 0 DREW J CASERTANO HEADMASTER 40.00 X X 364435 0 105397 PETER R CHAPMAN SECRETARY 1.00 X X 0 0 0 STEPHEN CLEMENT III TRUSTEE 1.00 X 0 0 0 KELLY MACALUSO COLES TRUSTEE 1.00 X 0 0 0 TREVOR COLHOUN TRUSTEE 1.00 X 0 0 0 MORGAN CONRAD TRUSTEE 1.00 X 0 0 0 KATHLEEN DILL TRUSTEE 1.00 X 0 0 0 NICOLE SHEETZ FRITH TRUSTEE 1.00 X 0 0 0 CHRISTOPHER HOLBROOK TRUSTEE 1.00 X 0 0 0 THEODORE KARATZ TRUSTEE 1.00 X 0 0 0 ROBERT S KOENIGSBERGER OUTGOING TRUSTEE 1.00 X 0 0 0 WILLIAM MENARD CHAIRMAN 1.00 X X 0 0 0 SEAN MCMANUS TRUSTEE 1.00 X 0 0 0 GORDON S PENNOYER TRUSTEE 1.00 X 0 0 0 GILBERT P SCHAFER III TRUSTEE 1.00 X 0 0 0 LISA SELZ TRUSTEE 1.00 X 0 0 0 PAUL SIMONS TRUSTEE 1.00 X 0 0 0 PAUL SOLOMON VICE CHAIRMAN 1.00 X X 0 0 0 PAUL STAFFORD TRUSTEE 1.00 X 0 0 0 RICHARD STUCKEY TREASURER 1.00 X X 0 0 0 CHARLOTTE TRACY TRUSTEE 1.00 X 0 0 0 CAROLINE A WAMSLER TRUSTEE 1.00 X 0 0 0 JING WANG TRUSTEE 1.00 X 0 0 0 JEFFERY SMITH COO 40.00 X 105751 0 25395 ROBERT ANTHONY ASSISTANT TO THE HM FOR EA 40.00 X 178288 0 52796 NANCY STAHL DIRECTOR OF DEVELOPMENT 40.00 X 179113 0 42609 KATHERINE HAVARD DEAN OF FACULTY 40.00 X 107292 0 36680 JONATHAN DOWNS ASS. HM, INST. ADVANCEMENT 40.00 X 164768 0 75805 CYNTHIA MCWILLIAMS DIRECTOR OF ANNUAL FUND 40.00 X 103182 0 15706 ROBERT CONNOLLY FORMER CFO 40.00 X 102413 0 25577 1305242 0 379965 8 1 1 0 CONSIGLI CONSTRUCTION LLC 199 WEST ROAD SUITE 100 PLEASANT VALLEY NY 12569 CONSTRUCTION SERVICES 2239869 ARAMARK SERVICES CORPORATION ARAMARK CHICAGO LOCKBOX CHICAGO IL 60673 FOOD SERVICE PROVIDER 1757552 VOITH AND MACTAVISH ARCHITECTS LLP 2401 WALNUT STREET 6TH FLOOR PHILADELPHIA PA 19103 ARCHITECTURAL SERVICES 623759 CLARK COMPANIES BURTON F CLARK INC DELHI NY 13753 CONSTRUCTION SERVICES 382797 BSB CONSTRUCTION INC 1613 ROUTE 9W MILTON NY 12547 CONSTRUCTION SERVICES 181888 10 46931 6582338 652348 6629269 TUITION AND FEES 611110 20765870 20765870 PROGRAM SUPPORTING REVENUES 611110 223142 223142 AUXILIARY INCOME 611110 217675 157225 60450 21206687 450925 3806 447119 32290065 3626 31843170 0 446895 3626 450521 1046 449475 377346 320691 56655 56655 28794057 21202892 65302 896594 14000 14000 3919148 3919148 630751 44379 364478 221894 117268 117268 7881041 6765273 441047 674721 538776 453444 25630 59702 1930210 1644820 134621 150769 591600 478574 53175 59851 62685 62685 50093 50093 159649 159649 13645 6434 6433 778 203794 49554 134844 19396 622270 490936 118200 13134 70046 70046 567701 454161 113540 2928682 2050077 732171 146434 424598 382138 42460 FOOD SERVICE 1430167 1430167 0 0 REPAIRS AND MAINTENANCE 1310965 1179869 91768 39328 INSTRUCTIONAL, ATHLETIC 1036325 1036325 0 0 ALUMNI, PUBLICATIONS AN 372075 0 74415 297660 1392373 777788 563801 50784 26267862 21364401 3118917 1784544 12011662 11221252 165691 475515 9634366 6952232 18787 126670 168636 166589 530096 361742 107873398 38175971 68813421 69697427 31383619 11568336 10822446 35980452 468842 484574 134017566 137034789 1908294 1605159 8278878 8537656 16894123 16365286 114132 66658 27195427 26574759 X 76602080 81307468 9180656 7506153 21039403 21646409 106822139 110460030 134017566 137034789 X 2526195 1105964 5732 X X 0 1 X 1 0 X 7740912 11097240 11578752 10856370 6629269 47902543 7740912 11097240 11578752 10856370 6629269 47902543 12110715 35791828 632508 1395557 644400 1967876 328112 4968453 98638 104029 49894 86526 65302 404389 53275385 96064899 0.67180 0.64520 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 264308 X X 0 46797266 2257051 1882716 1037744 390797 49508492 39665388 6628813 2199827 981394 715368 46797266 33581154 3806215 3539251 1261232 39665388 32479197 3329390 -979351 1248082 33581154 32523146 1462265 -330068 1176146 32479197 0.45200 0.43700 0.11100 0 0 1865213 1865213 99275676 33309094 65966582 5705474 4095594 1609880 1027035 771283 255752 69697427 HEDGE FUND 33162541 F INVESTMENT IN PARTNERSHIP 340708 C PRIVATE EQUITIES 2477203 F 35980452 STUDENT DEPOSITS 25914 CAPITAL LEASE PAYABLE 40744 66658 X 26244483 1105964 60000 326423 1492387 24752096 122813 3919148 4041961 28794057 22606592 60000 320691 380691 22225901 122813 3919148 4041961 26267862 PART III, LINE 1A: THE SCHOOL HAS A COLLECTION OF ARTWORK, RECORDED AT $264,308, WHICH IS ON PUBLIC DISPLAY THROUGHOUT ITS CAMPUS BUILDINGS. THE SCHOOL FOLLOWS A POLICY OF CAPITALIZING THE COLLECTION OF ARTWORK IN ITS FINANCIAL STATEMENTS. ACCORDINGLY, COLLECTION ITEMS ARE RECOGNIZED AS ASSETS, WHETHER THEY ARE PURCHASED OR RECEIVED AS A CONTRIBUTION. PART III, LINE 4: THE ART COLLECTIONS GENERALLY REPRESENTS PAINTINGS, PICTURES, AND SCULPTURES THAT HAVE BEEN RECEIVED AS DONATIONS. THEY ARE DISPLAYED AT VARIOUS LOCATIONS THROUGHOUT THE CAMPUS. PART V, LINE 4: INCOME FROM THE SCHOOL'S ENDOWMENT IS APPROPRIATED FOR STUDENT FINANCIAL AID, TEACHER'S SALARIES AND BENEFITS, AND OPERATING EXPENSES OF THE SCHOOL. APPROPRIATIONS ARE MADE IN ACCORDANCE WITH DONOR RESTRICTIONS, AND THE SCHOOL'S APPROVED SPENDING POLICY. PART X, LINE 2: THE SCHOOL HAS NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2019 AND 2018. THE SCHOOL'S FEDERAL INFORMATION RETURNS PRIOR TO FISCAL YEAR 2016 ARE CLOSED AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. IF THE SCHOOL HAD UNRELATED BUSINESS INCOME TAXES, IT WOULD RECOGNIZE INTEREST AND PENALTIES ASSOCIATED WITH ANY TAX MATTERS AS PART OF THE INCOME TAX PROVISION AND INCLUDE ACCRUED INTEREST AND PENALTIES WITH THE RELATED TAX LIABILITY IN THE STATEMENT OF FINANCIAL POSITION. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 320,691. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 5,732. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 3,919,148. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 320,691. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 3,919,148. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 1) ANNUALLY IN THE NEW YORK TIMES AND LOCAL NEWPAPERS 2) CATALOGUES MAILED TO POTENTIAL STUDENTS 3) WEBSITE CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTING 2477203 0 0 0 0 0 0 2477203 0 2477203 0 0 0 0 0 0 X X X X X X 1 MARTS AND LUNDY 1200 WALL STREET WEST LYNDHURST NJ 07071 FUNDRAISING CONSULTING 0 0 38093 0 ROBIN HEROW 2108 TIMBER LAKE CIRCLE 2 VERO BEACH FL 32966 FUNDRAISING CONSULTING/DONOR RESEARCH 0 0 12000 0 50093 NY 1 TOWN OF WASHINGTON 7000 CASH DONATION TOWN OF STANFORD 7000 CASH DONATION 2 0 FINANCIAL AID TO STUDENTS 92 0 3919148 FAIR MARKET VALUE GRANTS REPRESENT FINANCIAL AID PROVIDED TO STUDENTS BASED UPON NEED. PART I, LINE 2: FINANCIAL AID IS OFFERED TO QUALIFIED STUDENTS ON THE BASIS OF THE DEMONSTRATED FINANCIAL NEED OF THE FAMILY AND THE AVAILABILITY OF FUNDS. THE SCHOOL SUBSCRIBES TO THE SCHOOL AND STUDENT SERVICES (SSS). SSS ASSESSES A FAMILY'S FINANCIAL NEED BY TAKING THE DETAILED FINANCIAL INFORMATION SUPPLIED BY THE FAMILY AND APPLYING IT TO A FORMULA NATIONALLY ACCEPTED BY INDEPENDENT SCHOOLS. SSS THEN PREPARES A REPORT OF FAMILY CONTRIBUTION (RFC), WHICH IT SENDS TO THE SCHOOL WITH A RECOMMENDATION AS TO THE AMOUNT WHICH THE FAMILY CAN CONTRIBUTE TOWARD THEIR CHILD'S EDUCATION. THE SCHOOL'S FINANCIAL AID COMMITTEE WILL USE THIS RECOMMENDATION AS A STARTING POINT FOR DETERMINING A FAMILY'S AWARD, BEARING IN MIND THAT THERE ARE MANY SPECIAL CONDITIONS SURROUNDING EACH FAMILY'S FINANCIAL SITUATION. THE FINANCIAL AID COMMITTEE ALSO TAKES INTO ACCOUNT A FAMILY'S FINANCIAL STRENGTH RELATIVE TO ALL OF THE FAMILIES WHO ARE APPLYING FOR AID AS WELL AS THE AVAILABILITY OF FUNDS WHICH THE SCHOOL HAS BUDGETED FOR THIS PURPOSE. X X 0 0 X X X X 0 1 0 0 0 0 0 1 0 DREW J CASERTANO HEADMASTER 351486 0 0 0 12949 0 36165 0 69232 0 469832 0 0 0 ROBERT ANTHONY ASSISTANT TO THE HM FOR EA 178288 0 0 0 0 0 18500 0 34296 0 231084 0 0 0 NANCY STAHL DIRECTOR OF DEVELOPMENT 179113 0 0 0 0 0 18454 0 24155 0 221722 0 0 0 JONATHAN DOWNS ASS. HM, INST. ADVANCEMENT 164768 0 0 0 0 0 14194 0 61611 0 240573 0 0 0 ROBERT CONNOLLY FORMER CFO 102413 0 0 0 0 0 8228 0 17349 0 127990 0 0 0 PART I, LINE 1A MOST FACULTY MEMBERS ARE REQUIRED TO LIVE ON CAMPUS. ACCORDINGLY, THE SCHOOL PROVIDES HOUSING TO ALL ELIGIBLE FACULTY MEMBERS BASED ON AVAILABILITY. IN ADDITION, PER THE TERMS OF THE EMPLOYMENT AGREEMENTS THE FOLLOWING BENEFITS ARE AVAILABLE AND INCLUDED AS OTHER REPORTABLE COMPENSATION: A) A VEHICLE AVAILABLE FOR PERSONAL USE B) MEMBERSHIP TO SOCIAL CLUBS (PAID FOR DIRECTLY BY THE SCHOOL) PART I, LINE 4B DURING CALENDAR YEAR 2018, MR. CASERTANO PARTICIPATED IN A DEFERRED COMPENSATION PLAN, SUBJECT TO SUBSTANTIAL RISK OF FORFEITURE, TO WHICH CERTAIN AMOUNTS WERE CREDITED BY THE SCHOOL. THIS AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN C. PART I, LINE 7 THE DIRECTOR OF THE ANNUAL FUND RECEIVED A BOARD APPROVED CALENDAR YEAR BONUS WHICH WAS RECORDED IN HER 2018 W2. A DUTCHESS COUNTY LOCAL DEVELOPMENT CORPORATION SERIES 2013A 273106797 NONEAVAIL 2013-08-29 12640497 CONSTRUCTION OF NEW GIRLS DORMITORY, FACILITIES BUILDING, DINING HALL. 0 0 0 B DUTCHESS COUNTY LOCAL DEVELOPMENT CORPORATION SERIES 2013B 273106797 NONEAVAIL 2013-08-29 10359503 CONSTRUCTION OF PROJECTS AND REFUNDING SERIES 2008 BONDS AND LOC. 0 0 0 A 601000 7983382 7983382 4576618 2043 0 0 1 1 B 1035503 10359503 10011206 348297 2043 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 1 A 1 B 1 LINDA CASERTANO SPOUSE OF THE HEADMASTER 39188 ASSOCIATE DIRECTOR OF ADMISSIONS AND IS THE DIRECTOR OF FINANCIAL AID. 0 SARAH MACWRIGHT SPOUSE OF THE COO 78080 ART DEPARTMENT CHAIR 0 X 1 10000 FMV X 30 595707 FMV X RECEPTIONS 1 29080 FMV X OTHER 2 17561 FMV 0 1 1 PART I, COLUMN (B): THE AMOUNT IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTORS. PART I, LINE 32B: THE SCHOOL MAINTAINS AN ACCOUNT AT A FINANCIAL INSTITUTION INTO WHICH GIFTS OF APPRECIATED SECURITIES ARE RECEIVED AND FROM WHICH THEY ARE LIQUIDATED. FORM 990, PART VI, SECTION A, LINE 8B THE BOARD HAS CREATED VARIOUS COMMITTEES TO PERFORM CERTAIN FUNCTIONS ON BEHALF OF THE BOARD. HOWEVER, THE COMMITTEES' ACTIONS ARE REVIEWED AND RATIFIED BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B AFTER REVIEW BY THE AUDIT COMMITTEE, FORM 990 IS PROVIDED TO THE FULL BOARD THROUGH THE BOARD PORTAL FOR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE SCHOOL SENDS TO EACH OFFICER, TRUSTEE, AND KEY EMPLOYEE A QUESTIONNAIRE ON ANY CONFLICTS OF INTEREST. ALL OTHER EMPLOYEES ARE MADE AWARE OF THE POLICY, AND ENCOURAGED TO DISCLOSE ANY CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE HEADMASTER IS APPROVED BY THE BOARD OF TRUSTEES. IT IS GENERALLY BASED ON A REVIEW OF COMPENSATION PACKAGES OFFERED BY SIMILAR SCHOOLS IN THE AREA. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 0. CHANGE IN VALUE OF CHARITABLE TRUST 5,732. FORM 990, PART XII, LINE 2C: THERE HAVE BEEN NO CHANGES MADE TO THE ORGANIZATION'S OVERSIGHT OR SELECTION PROCESSES DURING THE TAX YEAR. MILLBROOK GRAMERCY HOLDINGS LLC 131 MILLBROOK SCHOOL RD MILLBROOK NY 12545 814880573 INVESTMENTS NY 0 2477203 MILLBROOK SCHOOL