2018-02-12T13:07:48-07:00 2017-06-30 160765486 Lumsden & McCormick LLP 369 Franklin Street Buffalo NY 14202 990 2016-07-01 160755808 NICHOLS SCHOOL OF BUFFALO NICH 7163326300 1250 Amherst Street Buffalo NY 14216 William Clough Head of School 7163326300 2018-02-12 1 James Dunn P00029032 7168563300 2018-02-12 38.122.36.250 2016 2021-01-29 14:40:06Z William Clough 1250 Amherst Street Buffalo NY 14216 24347036 0 X www.nicholsschool.org X 1892 NY Private co-educational secondary school serving grades 5-12 with a 2016-17 enrollment of 563 students. 24 24 242 125 11053 -19837 2449112 2674796 13188550 13287125 -956769 1043468 494876 366547 15175769 17371936 2481040 2509330 0 0 9444546 9445053 0 90146 768813 4616758 4825352 16542344 16869881 -1366575 502055 63878855 66422237 7236015 7609727 56642840 58812510 Our aim is to train minds, bodies and hearts for the work of life and to carry into all we do the highest ideals of character and service. 0 0 7613218 0 12445085 Education/Faculty - Nichols School's excellence begins with its faculty. We spend the majority of the School's resources to ensure we recruit, hire and retain the highest qualified faculty. We also believe in on-going training for our faculty by investing in a wide variety of continuing education programs. This enhances their teaching abilities and renews their commitment to their field. This establishes the School as a leader in quality education which attracts the best and brightest students not only in the WNY area, but from around the world. We have several international students and exchange programs. 2509330 0 0 Financial Aid - Nichols School provides financial aid to 30% of its students. This ensures diversity within the student body and provides the opportunity of a private school education to those who otherwise may not be able to afford it. Through the strategic planning process and the funds available through our endowment, we have been able to sustain our enrollment while maintaining our goal for the percentage of financial aid dollars available and the percentage of students receiving those dollars. This process is critical to maintaining a diverse student population into the future. 420429 0 0 Facilities - The campus consists of six separate buildings linked by tree lined sidewalks on 30 acres of city property. This includes a performing arts center and an ice rink. In January 2010, we opened a new 24,000 square foot state of the art sustainable math and science building. In 2011, the Upper School arts space was expanded and relocated to areas with increased natural lighting. Student space was also expanded. By providing well maintained and varied academic, arts and athletic facilities, it demonstrates the support and commitment to the faculty, coaches and students. 2892440 0 1095716 Other program services include student services, athletics and other academic expenses as detailed on Form 990 Part IX. 2892440 0 1095716 13435417 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 0 1 0 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 98 0 1 242 1 1 1 0 0 0 0 1 1 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X Daniel Dolan 7163326300 1250 Amherst Street Buffalo NY 14216 Alexis Agnello Trustee 2 X 0 0 0 Ramin Arani Trustee 2 X 0 0 0 Bridget Bartolone Trustee 2 X 0 0 0 Lisa Corrin Trustee 2 X 0 0 0 Alan Elia Treasurer 2 X X 0 0 0 Annette Holzman Fitch Trustee 2 X 0 0 0 Steven Foley Trustee 2 X 0 0 0 Garth Gibson Trustee 2 X 0 0 0 Adam Greenberger Trustee 2 X 0 0 0 Anthony Habib Trustee 2 X 0 0 0 Chris Hamill Trustee 2 X 0 0 0 Amy Blum Houston Trustee 2 X 0 0 0 Jeremy Jacobs Board Chair 2 X X 0 0 0 Monica Jones Trustee 2 X 0 0 0 Marsha Koelmel Vice Chair 2 X X 0 0 0 Alexandra McPherson Trustee 2 X 0 0 0 Jeffrey Meyer Vice Chair 2 X X 0 0 0 Donald Miller Trustee 2 X 0 0 0 David Pfalzgraf Secretary 2 X X 0 0 0 Katherine Roach Trustee 2 X 0 0 0 Scott Saperston Trustee 2 X 0 0 0 Cynthia Stark Trustee 2 X 0 0 0 Ashok Subramanian Trustee 2 X 0 0 0 Scott Weber Trustee 2 X 0 0 0 William Clough Head of School 50 X 320760 0 36285 Daniel Dolan Chief Financial Officer 50 X 119290 0 26810 Mary Rech Rockwell Assistant Head of School 50 X 123480 0 21230 Aranya Maritime Head of Upper School 50 X 107395 0 6395 Michael Sullivan Director of Technology 50 X 104990 0 4175 775915 0 94895 5 0 1 0 Sage Dining Services 1402 York Rd Suite 100 Lutherville MD 21093 Food Services 719047 Tiedemann Wealth Management LLC 520 Madison Avenue New York NY 10022 Investment Management Services 127141 Grand Tours 5355 Junction Road Lockport NY 14094 Transportation Services 122007 Allied Mechanical Inc 1111 Niagara Street Buffalo NY 14213 HVAC Services 101941 Simplex Grinnell 4650 Main Street Amherst NY 14221 Security and Fire Alarm Services 101375 5 0 0 23650 0 0 2651146 119537 2674796 Tuition and Fees 900099 12445085 12445085 0 0 Mandated Services/Title Funds 900099 548092 548092 0 0 Student Services and Publications 611710 111415 111415 0 0 Service Charges/Student Insurance 900099 110755 110755 0 0 Summer Programs 900099 71778 71778 0 0 0 0 0 0 13287125 658980 0 0 658980 0 0 0 0 0 0 0 0 658782 0 450680 0 208102 0 208102 208102 0 0 6609888 0 6196350 29050 413538 -29050 384488 0 0 384488 166066 23650 68848 97218 0 97218 10200 5600 4600 0 0 4600 234315 224572 9743 9743 0 0 46884 35831 11053 0 46884 17371936 13540801 11053 1145286 2509330 2509330 530090 530090 7307972 6297828 643507 366637 331683 285529 29532 16622 694795 560827 101319 32649 580513 469034 84174 27305 193741 193741 27300 27300 90146 90146 127141 127141 176619 176619 70974 70974 308897 148332 158590 1975 198818 198818 646815 420429 194044 32342 170652 159435 11217 254739 209137 45602 6306 2512 3794 1236792 1051273 185519 76082 47317 28765 Student Services 791676 791676 0 0 Development and Publications 201137 0 0 201137 Athletics 155377 155377 0 0 Student Trips and Awards 59583 59583 0 0 122703 68980 53723 16869881 13435417 2665651 768813 8800953 9582043 1873982 1710711 59996 72407 83958 89887 129595 61491 38726078 16663492 22702583 22062586 14064086 15180344 11707271 13300607 4456431 4362161 63878855 66422237 1481068 1753021 4925920 5196540 321117 191019 507910 469147 7236015 7609727 X 29982716 29907110 4835168 5442906 21824956 23462494 56642840 58812510 63878855 66422237 X 502055 1267332 0 0 0 400283 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 113357 0 0 X X 0 25771357 1680043 2311205 643595 510918 127141 28480951 26884467 819291 -619316 672506 522051 118528 25771357 27603283 555873 -53483 640726 497585 82895 26884467 25290128 353062 3159757 611687 475740 112237 27603283 24761386 382126 1346081 597637 476865 124963 25290128 0.2 0.74 0.06 0 0 0 3018697 3018697 0 30485849 13094041 17391808 0 0 0 0 0 4672697 3482297 1190400 0 548835 87154 461681 22062586 Money Market Funds 1605284 F Pooled Investment and Private Equity Funds 11695323 F 13300607 Receivable from Charitable Remainder Trusts 4362161 4362161 Accrued Post Retirement Obligation 430100 Agency Funds 39047 469147 17152780 1267332 0 0 -2225135 -957803 18110583 0 -738647 -738647 17371936 14983110 0 0 0 749700 749700 14233410 127141 2509330 2636471 16869881 Schedule D, Part III, Line 4 Artwork is displayed throughout the School to enhance the arts as part of the overall school curriculum. Schedule D, Part V, Line 4 Endowment funds are used mainly to provide financial aid to students and support programs of the School, or as stipulated by the donor. Schedule D, Part XI, Line 2d Change in value of charitable remainder trusts: 411,336; Financial aid: -2,509,330; Investment management fees: -127,141 Schedule D, Part XI, Line 4b Campus store cost of goods sold: -224,572; Fundraising expenses: -74,448; Rental expenses: -450,680; Income passed through limited partnership: 11,053 Schedule D, Part XII, Line 2d Campus store cost of goods sold: 224,572; Fundraising expenses: 74,448; Rental expenses: 450,680 Schedule D, Part XII, Line 4b Financial Aid: 2,509,330 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Our policy is included in all print ads and materials, including all admission brochures and literature. Schedule E, Part I, Line 6 The School receives NYS Mandated Services Funds and Title Funds administered through the Buffalo Public Schools. The funds are subject to various compliance and financial audits by the funding source. X X X X X 1 Marts & Lundy 1200 Wall Street West Lyndhurst NJ 07071 Feasibility study for capital campaign 0 0 90146 -90146 0 90146 -90146 NY Dinner/Auction 171111 16900 154211 0 0 0 22530 600 33654 Dinner/Auction 18605 6750 11855 0 0 0 5900 1600 4564 0 189716 23650 166066 0 0 0 28430 2200 38218 68848 97218 1 Financial Aid to Students 195 2509330 Cost of tuition Schedule I, Part I, Line 2 Financial Aid policies are defined, established and reviewed on a regular basis by the Financial Aid Committee. The Financial Aid Committee is comprised of several individuals including the Head of School, Director of Financial Aid and Director of Admissions. The distribution of financial aid is monitored by the Committee. All families that are applying for financial aid must complete an application in the FAST financial aid system. The Committee reviews all FAST forms and grants awards based upon need and availability of funds. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 William Clough Head of School 266880 0 10000 0 43880 0 13955 0 22330 0 357045 0 Schedule J, Part I, Line 1a The Head of School is provided with a housing allowance that is included as part of his compensation. This allowance is provided as it is expected that he entertain various individuals (ie-Board members) in his home and be available for duty at all times for the convenience of the School as part of his duties as Head of School. The Head of School is also a member of a local social club that is used 100% for business purposes to entertain certain individuals including Board members, donors and potential donors. X 25 119537 FMV 0 0 1 1 Schedule M, Part I, Line 32b It is the School's policy to sell all stock gifts when received. The stocks are sold through an unrelated broker. Form 990, Part VI, Section B, Line 11b The 990 is prepared by the Controller and reviewed and approved by the Head of School, CFO and independent outside auditors. The 990 is made available to the Board of Trustees and is reviewed and approved by the Executive Committee of the Board. Form 990, Part VI, Section B, Line 12c The Board of Trustees sign a written conflict of interest policy annually. Key employees also sign a conflict of interest policy. For all other employees, there is a conflict of interest policy in the employee handbook. The employee handbook is maintained on the School's computer network accessible by all employees. If a conflict arises with a board member, the board member would abstain from voting on that issue. If a conflict arises with an employee, the agreement would be reviewed by an independent officer or key staff member. Form 990, Part VI, Section B, Line 15 Salaries of top management of the School are validated by external sources and approved by the appropriate committee of the Board annually. Form 990, Part VI, Section C, Line 19 The stated documents are available to the public upon request and may be reviewed at the School. Form 990, Part XI, Line 9 Change in value of charitable remainder trusts:411,336; Income passed through limited partnership: -11,053