2018-11-15T13:46:53-06:00 2018-06-30 020476956 TYLER SIMMS & ST SAUVEUR CPAS PC 19 MORGAN DRIVE LEBANON NH 03766 990 2017-07-01 030182055 LYNDON INSTITUTE INC LYND 8026266122 168 INSTITUTE CIRCLE LYNDON CENTER VT 05850 TWILADAWN PERRY HEAD OF SCHOOL 8026266122 2018-11-14 1 W JAY SIMMS P00435321 6036530044 2018-11-12 216.107.201.226 2018-11-14 12:56:41 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 967DC28EC917779FA65461E96585814278A255C3 2017 2018-06-14 16:35:46Z TWILADAWN PERRY POBOX 127 LYNDON CENTER VT 05850 19388876 0 X WWW.LYNDONINSTITUTE.ORG X 1923 VT LYNDON INSTITUTE IS AN ACADEMIC COMMUNITY PROVIDING STUDENTS WITH EXCELLENT PREPARATION FOR SUCCESS IN SCHOOL, COLLEGE, CAREERS, AND LIFE. 27 27 220 64 191469 -32012 1100215 879089 14875904 14403957 971214 872528 223344 239152 17170677 16394726 1977229 1921002 0 0 9689777 7499218 0 0 373347 6945799 5684536 18612805 15104756 -1442128 1289970 25355112 22991525 14036244 10614888 11318868 12376637 LYNDON INSTITUTE IS A COMPREHENSIVE, INDEPENDENT HIGH SCHOOL PROVIDING THOUGHTFUL AND RIGOROUS PREPARATION FOR STUDENTS OF THE NORTHEAST KINGDOM OF VERMONT AND BEYOND TO REACH THEIR INTELLECTUAL, CREATIVE AND PHYSICAL POTENTIAL. 0 0 9966741 1921002 14403957 LYNDON INSTITUTE IS AN INDEPENDENT DAY AND BOARDING HIGH SCHOOL FOR GRADES 9 - 12, OFFERING A 200-COURSE CURRICULUM SPECIALIZING IN CORE AND HONORS ACADEMICS, FINE AND PERFORMING ARTS AND TECHNICAL AND CAREER PROGRAMS. 9966741 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 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 46 0 1 220 1 1 1 0 0 0 0 0 0 0 0 0 X 27 27 1 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 0 1 0 0 X X THE ORGANIZATION 8025353733 PO BOX 127 LYNDON CENTER VT 05850 RICHARD ASHTON TRUSTEE 4.00 X 0 0 0 GREGORY MCCORMICK TRUSTEE 4.00 X 0 0 0 LAWRENCE CIPOLLONE VICE PRESIDENT 4.00 X X 0 0 0 CHARLES BUCKNAM TRUSTEE 4.00 X 0 0 0 MEREDITH FELTUS TRUSTEE 4.00 X 0 0 0 DAVID STAHLER SR TRUSTEE AT LARGE 4.00 X 0 0 0 HARWANT SETHI SR TRUSTEE 4.00 X 0 0 0 JOSEPH FLYNN TRUSTEE 4.00 X 0 0 0 STEPHEN GRAY TRUSTEE 4.00 X 0 0 0 ELAINE SMITH TREASURER 4.00 X X 0 0 0 JAMES MCDONALD TRUSTEE 4.00 X 0 0 0 SARA SIMPSON TRUSTEE 4.00 X 0 0 0 DAVID BEATTIE TRUSTEE AT LARGE 4.00 X 0 0 0 MARLIN DEVENGER TRUSTEE 4.00 X 0 0 0 PATRICIA EMERY TRUSTEE 4.00 X 0 0 0 T MICHAEL FLYNN TRUSTEE 4.00 X 0 0 0 AMY MCGARRY TRUSTEE 4.00 X 0 0 0 LAURA ASHTON TRUSTEE 4.00 X 0 0 0 JAMES GALLAGHER PRESIDENT 4.00 X X 0 0 0 PETER HOPKINS TRUSTEE 4.00 X 0 0 0 LORRAINE MATTEIS TRUSTEE 4.00 X 0 0 0 EMERY NOYES TRUSTEE 4.00 X 0 0 0 NATHAN SICARD SECRETARY 4.00 X X 0 0 0 LARISSA FLYNN TRUSTEE 4.00 X 0 0 0 DAVID R HARTWELL TRUSTEE 4.00 X 0 0 0 RYAN NOYES TRUSTEE 4.00 X 0 0 0 DANIEL HEATH TRUSTEE 4.00 X 0 0 0 TWILADAWN PERRY HEADMASTER 40.00 X 103775 0 16236 MEGAN HOWARD CHIEF FINANCIAL OFFICER 40.00 X 89565 0 4000 DAREN HOUCK FORMER HEADMASTER (TERM 6/30/17) 40.00 X 159532 0 25651 352872 0 45887 2 1 1 0 ALADDIN FOOD MANAGEMENT SERVICES 16567 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 FOOD SERVICES 851347 SSC SERVICE SOLUTIONS PO BOX 417632 BOSTON MA 02241 EDUCATION SERVICES 580247 BUTLER'S BUS SERVICE INC 231 RED VILLAGE ROAD LYNDONVILLE VT 05851 TRANSPORTATION 104428 3 582920 296169 71746 879089 TUITION AND FEES 611600 11079418 11079418 RESIDENTIAL PROGRAM IN 611600 2598567 2598567 FOOD SALES 721310 167690 167690 ATHLETIC INCOME 711210 23725 23725 TRANSPORTATION 480000 14764 14764 519793 519793 14403957 300055 300055 83977 39509 44468 44468 44468 3517474 2875 2947876 0 569598 2875 572473 572473 9980 6765 3215 3215 ICE ARENA 713940 191469 191469 191469 16394726 14403957 191469 920211 1921002 1921002 236257 236257 6023502 4109834 1697811 215857 796393 459057 337336 443066 291212 136559 15295 25660 25660 49613 49613 66743 66743 1017630 931659 85971 41841 2470 39371 1066080 333129 728551 4400 64899 49728 8369 6802 346322 277058 69264 885669 620555 265114 114969 74419 40550 REPAIRS AND MAINTENANCE 362241 154869 205372 2000 GENERAL OPERATING EXPEN 326788 28058 233863 64867 TELEPHONE AND INTERNET 189455 59319 130136 DUES AND SUBSCRIPTIONS 157579 69606 80981 6992 969047 584766 327147 57134 15104756 9966741 4764668 373347 65569 57740 89714 36496 1390796 990334 43385 50201 130893 31735 22874489 11047396 12456884 11827093 9518060 8312368 1659811 1685558 25355112 22991525 1748138 1258454 2682035 1596760 6212625 5752521 3393446 2007153 14036244 10614888 X 5834974 6685786 3294504 3368476 2189390 2322375 11318868 12376637 25355112 22991525 X 1289970 -232202 1 X 0 1 X 0 0 X X X X 0 11177871 103830 518624 1802399 9997926 11926103 226516 1030861 2005609 11177871 11885960 38460 360516 358833 11926103 11632378 269820 595858 612096 11885960 11137143 176872 1531710 1213347 11632378 0.44480 0.23230 0.32290 1 0 250625 250625 17770070 7763265 10006805 872898 533910 338988 3060488 2105845 954643 920408 644376 276032 11827093 BENEFICIAL INTEREST IN PERPETUAL TRUST 1199408 CONTRIBUTION RECEIVABLE FROM REMAINDER TRUST 486150 1685558 DUE TO STUDENT ORGANIZATIONS 72153 LINE OF CREDIT 1935000 2007153 X 14001473 -232202 3900 46275 -182027 14183500 66743 2144483 2211226 16394726 12943704 3900 46274 50174 12893530 66743 2144483 2211226 15104756 PART III, LINE 1A: THE COLLECTION, WHICH CONSISTS OF LIBRARY BOOKS, PERIODICALS AND RELATED MATERIAL, WAS ACQUIRED THROUGH PURCHASES SINCE THE SCHOOL'S INCEPTION AND IS NOT RECOGNIZED AS AN ASSET ON THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. PART V, LINE 4: THE SCHOOL'S ENDOWMENT CONSISTS OF 83 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR IMPOSED RESTRICTIONS. PART X, LINE 2: ACCOUNTING STANDARDS CODIFICATION SUBTOPIC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, ADDRESSES THE ACCOUNTING UNCERTAINTY OF INCOME TAXES RECOGNIZED IN AN ENTERPRISE'S FINANCIAL STATEMENTS AND PRESCRIBES A THRESHOLD OF "MORE-LIKELY-THAN-NOT" FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. SUBTOPIC 740-10 ALSO PROVIDES GUIDANCE ON MEASUREMENT CLASSIFICATION, INTEREST AND PENALTIES AND DISCLOSURE. THE SCHOOL HAS DETERMINED THAT THE PROVISIONS OF SUBTOPIC 740-10 DO NOT HAVE A MATERIAL EFFECT ON THE SCHOOL'S FINANCIAL STATEMENTS. THE SCHOOL BELIEVES IT IS NO LONGER SUBJECT TO EXAMINATIONS FOR YEARS PRIOR TO 2014. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 39,509. FUNDRAISING EXPENSE 6,765. ROUNDING 1. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,921,002. ICE ARENA EXPENSES 223,481. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 39,509. FUNDRAISING EXPENSE 6,765. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,921,002. ICE ARENA EXPENSES 223,481. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 REGISTRATION PERIOD IS OPEN TO ALL 9-12 DAY STUDENTS WISHING TO APPLY TO LYNDON INSTITUTE. OPEN REGISTRATION IS ANNOUNCED THROUGH NEWSPAPER AND BROADCAST MEDIA. THE NON-DISCRIMINATORY POLICY IS ON THE FRONT PAGE OF THE STUDENT/PARENT HANDBOOK. FOR THE BOARDING STUDENTS, THE ADMISSIONS TEAM TRAVELS TO A VARIETY OF COUNTRIES TO LET STUDENTS KNOW ABOUT THE PROGRAMS THAT THE SCHOOL OFFERS. SCHEDULE E, PART I, LINE 6 LYNDON INSTITUTE, INC. RECEIVES GRANT MONEY FROM THE STATE OF VERMONT. 1 SCHOLARSHIPS FOR TUITION AND FEES. 73 1921002 FMV SCHOLARSHIPS PART I, LINE 2: ALL FINANCIAL AID AWARDED TO STUDENTS IS FUNDED INTERNALLY RATHER THAN THROUGH GRANTS. SCHEDULE I, PART III, COLUMN F DESCRIPTION OF NON-CASH ASSISTANCE: FINANCIAL AID. RECORDS ARE KEPT AT LYNDON INSTITUTE'S BUSINESS OFFICE. X 0 0 X X 1 0 0 0 0 0 0 0 0 DAREN HOUCK FORMER HEADMASTER (TERM 6/30/17) 0 0 0 0 159532 0 8082 0 17569 0 185183 0 0 0 PART I, LINE 1A THE DETERMINATION OF THE VALUE FOR ROOM AND BOARD EXPENSES FOR THE HEAD OF SCHOOL AND THOSE LIVING ON CAMPUS AS PART OF THE DORM PROGRAM WAS FIRST DETERMINED THROUGH AN ANALYSIS OF LOCAL RENTALS AND THE ASSOCIATED UTILITY COSTS. EACH YEAR SUBSEQUENTLY, THE INCREASE TO THESE VALUE OF THESE EXPENSES HAS BEEN AT A RATE OF 3% PER YEAR. PART I, LINE 4A DAREN HOUCK RECEIVED SEVERANCE PAYMENTS TOTALING $77,121. A VERMONT ECONOMIC DEVELOPMENT AUTHORITY 036024497 2013-08-02 4376723 TO REFINANCE 2006 BOND TO FUND CONSTRUCTION OF THE CAMPBELL DORMITORY 0 0 0 A 4376723 4376723 2013 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 0 0 0 0 A 0 X 2 6879 FMV X GIFTS IN KIND 87 64867 FMV 0 0 1 PART I, LINE 32B: LYNDON INSTITUTE USES UNION BANK TO SELL DONATED STOCK. FORM 990, PART VI, SECTION A, LINE 2 HUSBAND & WIFE - LAURA ASHTON AND RICHARD ASHTON HUSBAND & WIFE - LARISSA FLYNN AND T. MICHAEL FLYNN FATHER & SON - EMERY NOYES AND RYAN NOYES FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS (CORPORATORS) OF THE INSTITUTE SHALL CONSIST OF NOT LESS THAN FIFTY AND NOT MORE THAN ONE HUNDRED FIFTY, PLUS NO MORE THAN THREE SCHOOL BOARD MEMBERS FROM EACH SCHOOL BOARD OF THE LOCAL DISTRICTS. LYNDON INSTITUTE IS NO LONGER DESIGNATED, BUT DOES STILL DRAW STUDENTS FROM THESE LOCAL DISTRICTS, FORMERLY DESIGNATED SENDING DISTRICTS. FORM 990, PART VI, SECTION A, LINE 7A THE CORPORATORS OF LYNDON INSTITUTE ELECT THE BOARD OF TRUSTEES FROM ELIGIBLE MEMBERS OF THE CORPORATION. THE BOARD OF TRUSTEES SHALL CONSIST OF 27 MEMBERS. THE BOARD OF TRUSTEES WILL BE VOTED ON AN ANNUAL BASIS AT THE ANNUAL MEETING HELD IN OCTOBER. THE BOARD OF TRUSTEES SHALL SELECT AND EMPLOY A HEADMASTER WHO WILL BE CHARGED WITH THE DAILY ADMINISTRATION OF EDUCATIONAL LEADERSHIP OF THE SCHOOL. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CFO AND HEAD OF SCHOOL. FORM 990, PART VI, SECTION B, LINE 12C LYNDON INSTITUTE MONITORS POTENTIAL CONFLICTS OF INTEREST ON A REGULAR BASIS AS WE PREPARE OUR ANNUAL FINANCIAL STATEMENT AUDIT. AT THIS TIME WE ACCUMULATE A LIST OF ALL RELATED PARTIES AND DETAIL THEIR RELATIONSHIP TO THE SCHOOL. FORM 990, PART VI, SECTION B, LINE 15A THE CONTRACT AND COMPENSATION FOR THE HEADMASTER WAS DISCUSSED IN THE EXECUTIVE SESSION OF THE EXECUTIVE COMMITTEE ON MAY 11, 2017. LATER THE COMMITTEE VOTED TO FINALIZE THE CONTRACT FOR THE HEADMASTER. FORM 990, PART VI, SECTION C, LINE 19 LYNDON INSTITUTE IS NOT REQUIRED TO MAKE ITS FORM 1023 AVAILABLE TO THE GENERAL PUBLIC AS THEY OBTAINED EXEMPTION PRIOR TO 1973. THE FORM 990 IS MADE AVAILABLE FOR PUBLIC INSPECTION THROUGH USE OF THE GUIDESTAR WEBSITE. FORM 990, PART XI, LINE 9: ROUNDING 1.