2018-02-27T09:39:21-06:00 2017-06-30 042943536 Tonneson & Company PC 401 Edgewater Place Suite 300 Wakefield MA 018806208 990 2016-07-01 042104824 Park School Corporation PARK 6172772456 171 Goddard Avenue Brookline MA 02445 Sam Wilderman Treasurer 6172772456 2018-02-12 1 Cynthia P Almquist P01309212 7812459999 2018-02-12 64.88.174.3 2018-02-12 14:56:27 ES P 45BF88A88C46F0853F95867F672C67CEABC87A4D 6087380ACBA635319E6D2FDEC45B442469EA96F2 2016 2021-01-29 14:40:06Z Sam Wilderman 171 Goddard Avenue Brookline MA 02445 24701109 0 X www.parkschool.org X 1923 MA Refer to Schedule O, Page 66The Park School is dedicated to excellence in education.The cornerstone of Park's program is academic excellence combining both high standards of scholarship and the encouragement of each child to develop to his or her greatest potential. Our school community fosters a nurturing environment in which children develop curiosity, express creativity, appreciate the value of hard work and discipline, and experience the joy of learning. Park's faculty encourages each student to strive for intellectual, physical and moral growth, and to become contributing members of the community.Park is committed to being a metropolitan, coeducational, day school of diverse races, religions, cultures, and backgrounds. Central to its mission is an appreciation of similarities and differences of perspective and the interdependence of all people. As a family school, Park is a community in which the dignity of each child, teacher, and parent is respected. 24 24 348 150 40946 36750 2400532 2570223 20820791 21536792 50321 21491 551335 544514 23822979 24673020 3489455 3420367 0 0 15976586 15822375 0 0 825400 7277024 7935680 26743065 27178422 -2920086 -2505402 87992192 91054946 26035958 25994201 61956234 65060745 Refer to Schedule O, Page 66 0 0 19001132 2927490 18527730 Park School provides an exceptional independent education to 560 boys and girls enrolled from pre-kindergarten through eighth grade. 2261878 492877 3009062 Summer and After-School Programs - Creative Arts at Park is a 5 week camp where children ages 7 to 15 can explore the full range of visual and performing arts. Summer at Park is an ACA-accredited camp for children ages 4 to 15. Campers can participate in a wide variety of programs of varying duration throughout the summer. After-school programs provide enriching, extended school hours for those childen who enroll. 285913 285913 21263010 1 1 0 0 0 0 1 0 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 94 0 1 348 1 1 1 0 0 0 0 1 1 0 0 0 0 X 24 24 1 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X Kimberly Boyd 6172772456 171 Goddard Avenue Brookline MA 02445 X Vincent Chiang Board Chair 5.00 X X 0 0 0 Peter Riehl Vice Chair 5.00 X X 0 0 0 Polly Crozier Vice Chair 5.00 X X 0 0 0 Sam Wilderman Treasurer 5.00 X X 0 0 0 Stanley Shaw Secretary 5.00 X X 0 0 0 Martina Albright Trustee 3.50 X 0 0 0 David Ball Trustee 3.50 X 0 0 0 Laura Barkan Trustee 3.50 X 0 0 0 Peter Barkan Trustee 3.50 X 0 0 0 Seth Brennan Trustee 3.50 X 0 0 0 Denise Jefferson Casper Trustee 3.50 X 0 0 0 Carlos Castillo Trustee 3.50 X 0 0 0 Sara Leventhal Fleiss Trustee 3.50 X 0 0 0 Heetan Kalan Trustee 3.50 X 0 0 0 Conan Laughlin Trustee 3.50 X 0 0 0 Jessica Lutzker Trustee 3.50 X 0 0 0 Todd MacLean Trustee 3.50 X 0 0 0 Amy Lloyd McCarthy Trustee 3.50 X 0 0 0 Katie McWeeny Trustee 3.50 X 0 0 0 Nikki Nudelman Trustee 3.50 X 0 0 0 Kate Olmsted Trustee 3.50 X 0 0 0 Neela Pal Trustee 3.50 X 0 0 0 Shade Solomon Trustee 3.50 X 0 0 0 Kerry Swords Trustee 3.50 X 0 0 0 Christina Vest Trustee 3.50 X 0 0 0 Edward Whelan Trustee 3.50 X 0 0 0 Mary Witkowski Trustee 3.50 X 0 0 0 Emily Lubin Woods Trustee 3.50 X 0 0 0 Cynthia Harmon Head of School 40.00 X 223304 0 28252 Kimberly Boyd Asst Head for Finance & Operations 40.00 X 174320 0 27688 Beatrix Sanders Director of Development 40.00 X 227320 0 30029 Jorge Vega Director of Technology 40.00 X 159183 0 28477 Mary Russell Director of External Programs 40.00 X 148662 0 28003 Alice Lucey Upper Division Head 40.00 X 148539 0 7249 Merle Jacobs Director of Admissions 40.00 X 124763 0 22716 Michael Robinson Former Head of School 40.00 X 331218 0 10185 1537309 0 182599 18 1 1 0 Compass Group USA PO Box 417632 Boston MA 02241 School Dining 873828 Global Endowment Management LP 550 S Tyron Street Suite 3500 Charlotte NC 282022866 Investment Management Fees 360742 George T Wilkinson Inc 405 VFW Drive Rockland MA 02370 Contractor 343899 SSI (US) Inc PO Box 98991 Chicago IL 60693 Head of School Search 173870 Holland & Knight LLP 10 St James Avenue 11th Floor Boston MA 02116 Legal 129041 5 2570223 225867 2570223 Tuition 611600 18527730 18527730 After School and Summer Programs 611600 3009062 3009062 21536792 2188 2188 286690 28089 258601 258601 258601 19303 0 19303 19303 40946 -21643 Miscellaneous Revenue 900099 285913 285913 285913 24673020 21822705 40946 239146 3420367 3420367 558706 558706 11746626 9129536 2049279 567811 486074 367674 93506 24894 2154437 1526107 568669 59661 876532 680171 162719 33642 205450 205450 42408 42408 360742 360742 324650 55598 269052 161155 32219 117862 11074 1424333 946090 403417 74826 134408 115241 19167 495810 495810 221965 220905 961 99 178683 153845 24838 823320 823320 1676745 1676745 112165 112165 Unrelated Business Inco 15000 15000 Food service 858076 770965 54859 32252 Strategic Initiatives - 469195 469195 Repairs and maintenance 363127 363127 68448 4171 62303 1974 27178422 21263010 5090012 825400 6699143 6013831 2258866 1237422 379538 554612 1277134 1364095 52458321 22702989 30516882 29755332 1685448 1301244 45175181 50828410 0 0 87992192 91054946 2211205 1818080 4105980 4725669 19718773 19344932 0 105520 26035958 25994201 X 45336756 48468938 7887118 7837063 8732360 8754744 61956234 65060745 87992192 91054946 -2505402 5609913 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 3 11.56 0 0 0 1 0 80.00 15000 0 46809382 1070339 5262863 2084603 51057981 48440391 1511407 -1169255 1973161 46809382 43861967 3354629 3012795 1789000 48440391 39217173 902777 5409612 1667595 43861967 36198584 762065 3767774 1511250 39217173 0.70490 0.29510 0.00000 0 0 6774254 6774254 38231575 16781376 21450199 5396940 4366889 1030051 2055552 1554724 500828 29755332 Alternative Investments 50828410 F 50828410 X 26529913 5609913 28089 5638002 20891911 360742 3420367 3781109 24673020 23425402 28089 28089 23397313 360742 3420367 3781109 27178422 Part II, Line 9: Conservation easements are included in property and equipment on the School's June 30, 2017 Statement of Financial Position. There were no new conservation easements during the fiscal year ending June 30, 2017. Part V, Line 4: The School's primary objective is long-term capital appreciation which together with income will provide for the growth of the endowment while allowing support for current activities. The School has adopted a spending policy whereby a percentage of the historical average market value of the endowment for program services and capital needs is distributed and treated as support for operating activities. To the extent the total return requirement for the current year is not fulfilled by interest and dividends, the School utilizes realized gains of its endowment. To the extent the total return requirement for the current year is exceeded by interest and dividends, the School adds the excess income to its endowment. Part X, Line 2: In determining the recognition of uncertain tax positions, the School applies a more-likely-than-not recognition threshold and determines the measurement of uncertain tax positions considering the amounts and probabilities of the outcomes that could be realized upon ultimate settlement with taxing authorities. As of June 30, 2017, the School has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. Part XI, Line 2d - Other Adjustments: Rental Expenses 28,089. Part XI, Line 4b - Other Adjustments: Financial Aid - Tuition 2,927,490. Financial Aid - After School and Summer Programs 492,877. Part XII, Line 2d - Other Adjustments: Rental Expenses 28,089. Part XII, Line 4b - Other Adjustments: Financial Aid - Tuition 2,927,490. Financial Aid - After School and Summer Programs 492,877. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 The School is a member of the Association of Independent Schools of New England (AISNE). AISNE annually publishes a racially nondiscriminatory policy in various newspapers throughout New England for its members. 1 Financial Aid 363 3420367 0 Part I, Line 2: Financial aid is awarded to families by committee, inclusive of the Head of School, Assistant Head of School for Finance & Operations, Director and Associate Director of Admission, Controller, Assistant Business Manager, and Bookkeeper. The committee's decision is largely based upon the calculation by an organization, School and Student Services, which is owned by the National Association of Independent Schools. Once the committee awards a grant to a family, a letter is written to each family indicating the award and a contract is mailed home for the amount of tuition due for the year. These contracts are maintained in a locked cabinet in the School's Business Office. X 1 0 X X X X 0 0 0 0 0 0 0 0 0 Cynthia Harmon Head of School 223304 0 0 0 0 0 9000 0 19252 0 251556 0 0 0 Kimberly Boyd Asst Head for Finance & Operations 174320 0 0 0 0 0 16500 0 11188 0 202008 0 0 0 Beatrix Sanders Director of Development 227320 0 0 0 0 0 16500 0 13529 0 257349 0 0 0 Jorge Vega Director of Technology 159183 0 0 0 0 0 0 0 28477 0 187660 0 0 0 Mary Russell Director of External Programs 148662 0 0 0 0 0 0 0 28003 0 176665 0 0 0 Alice Lucey Upper Division Head 148539 0 0 0 0 0 0 0 7249 0 155788 0 0 0 Michael Robinson Former Head of School 331218 0 0 0 0 0 0 0 10185 0 341403 0 0 0 A Massachusetts Development Finance Agency 043431814 57583RKA2 2007-02-21 9435000 Finance construction costs 0 0 0 B Massachusetts Development Finance Agency 043431814 57583UPU6 2012-04-01 14025000 Refinance 0 0 0 A 3134525 9253762 249549 9004213 0 0 1 1 B 889783 14335621 225718 14109903 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 1 0 0 0 0 0 B 1 0 0 0 0 0 A 0 B 0 X 14 225867 Market value 0 0 0 Form 990, Part VI, Section A, line 2 Peter Barkan and Laura Barkan - Family relationship Form 990, Part VI, Section A, line 7a All parents of children in attendance at The Park School are members of the Corporation during such period of attendance. Additionally, current and former faculty and staff who have worked at The Park School for 20 years or more and a select group of former Trustees, parents, and friends with long standing connections to the School are invited to be members of the Corporation by the Head of School. Form 990, Part VI, Section B, line 11b The School's Treasurer and Assistant Head for Finance & Operations are responsible for overseeing the preparation of IRS Form 990 (990). The 990 and its supporting schedules were prepared by the public accounting firm, Tonneson & Company, PC (Tonneson), responsible for auditing the School's financial statements. Tonneson's work was based on information provided to them during the course of the audit by the School's business office, plus additional work requested specific to the 990. The Chair of the Board, Treasurer, Audit Committee Chair, Head of School and Assistant Head for Finance & Operations performed a detailed review of the completed 990 and reported the results of its review to the Board of Trustees. The Board of Trustees then voted to authorize the audit committee to approve the Form 990. The audit committee approved the Form 990 for filing. Form 990, Part VI, Section B, line 12c Each member of the Board of Trustees is required to disclose at the first Board Meeting of each year any existing or potential conflict of interest. The Board of Trustees may also provide for such corrective action as it deems appropriate by reason of a failure to disclose such conflict of interest, which may include removal from a position or office. Disclosure forms shall be updated annually or sooner if changed circumstances require disclosure. All persons subject to this policy are expected to update their "Annual Statement Regarding Conflict of Interest" at any time during the year that the information requested on the form changes. The administration and maintenance of the "Annual Statement Regarding Conflict of Interest" shall be the responsibility of the Chair of the Board of Trustees, or his/her designee. Form 990, Part VI, Section B, line 15 The Committee of Trustees initially determines compensation for the Head of School and reviews compensation for other key employees based on benchmarking with area peer schools. Proposed compensation is then reviewed and approved by the entire Board of Trustees. Form 990, Part VI, Section C, line 19 The governing documents, conflict of interest policy, financial statements and Form 990 are immediately made available to the public by calling the School's office, walking into the School's office or mailing in a request to the School. The Form 990 and financial statements are also available through the Massachusetts Attorney General's office/website. Additionally, the financial statements are available to the public on the Electronic Municipal Market Access website.