2016-11-10T08:51:31-06:00 2016-06-30 030225774 GALLAGHER FLYNN & COMPANY LLP 55 COMMUNITY DRIVE SUITE 401 SOUTH BURLINGTON VT 05403 990 2015-07-01 030179404 BURR AND BURTON ACADEMY BURR 8023621775 PO BOX 498 MANCHESTER VT 05254 MARK TASHJIAN HEADMASTER 8023621775 2016-11-09 1 PHILIP A LAPP CPA P00356904 8028631331 2015 2017-02-10 21:41:12Z MARK TASHJIAN PO BOX 498 MANCHESTER VT 05254 22351267 0 X WWW.BURRBURTON.ORG X 1829 VT ACCREDITED INDEPENDENT HIGH SCHOOL - PROVIDING EDUCATION FOR GRADES 9-12 17 17 277 0 0 0 2476062 1229284 13370318 14113460 1785722 192412 96286 121152 17728388 15656308 0 354793 0 0 11038210 11484302 0 0 647028 4967086 4923321 16005296 16762416 1723092 -1106108 40751985 39944624 6218686 6924856 34533299 33019768 X TO EDUCATE ITS STUDENTS INTELLECTUALLY AND MORALLY FOR A LIFE OF RESPONSIBILITY, INTEGRITY, AND SERVICE. 0 0 14464738 354793 13762899 BURR AND BURTON ACADEMY IS AN INDEPENDENT SCHOOL THAT SERVES THE GENERAL PUBLIC. FOUNDED IN 1829, THE ACADEMY SERVES THIRTEEN TOWNS IN SOUTHERN VERMONT, ACCEPTS ALL STUDENTS FROM THOSE TOWNS, AND IS COMMITTED TO PROVIDING AN OUTSTANDING EDUCATIONAL OPPORTUNITY TO EVERY STUDENT. BURR AND BURTON ACADEMY SERVES 612 DOMESTIC AND 62 INTERNATIONAL STUDENTS FROM 10 COUNTRIES. EACH OF THE THIRTEEN TOWNS THAT SEND STUDENTS TO THE ACADEMY DIRECTLY FUNDS OUR FULL TUITION SO FAMILIES ATTEND BURR AND BURTON AT NO PERSONAL COST. OUR STUDENT BODY IS DIVERSE SOCIOECONOMICALLY, WITH ROUGHLY 20% OF OUR STUDENTS QUALIFYING FOR FREE AND REDUCED MEALS. HIGHLIGHTS OF THE ACADEMY'S EDUCATIONAL RESULTS ARE A VIRTUALLY 100% GRADUATION RATE, 80%-90% COLLEGE MATRICULATION RATE, SAT SCORES 100+ POINTS HIGHER THAN THE NATIONAL AVERAGE, AND AP TEST-TAKING RATE AND RESULTS IN THE TOP 5% OF ALL SCHOOLS NATIONALLY.THE ACADEMY BRINGS THE BEST OF INDEPENDENT SCHOOL PHILOSOPHY AND EXPECTATIONS COUPLED WITH THE DEMOCRATIC IDEAL OF EDUCATION FOR ALL. 496460 350561 FOOD SERVICE 75226 75226 14961198 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 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 21 0 277 1 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 X DENNIS A FILIPPI 8025498213 PO BOX 498 MANCHESTER VT 05254 X SETH BONGARTZ BOARD CHAIR 10.00 X X 0 0 0 BARRY ROWLAND BOARD VICE CHAIR 5.00 X X 0 0 0 LEE SPIVEY TREASURER 3.00 X X 0 0 0 SANFRA WEISS SECRETARY 3.00 X X 0 0 0 BRIAN BAREFOOT TRUSTEE 3.00 X 0 0 0 ED CAMPBELL TRUSTEE 3.00 X 0 0 0 MICHAEL COHEN TRUSTEE 3.00 X 0 0 0 MICHAEL COOPERMAN TRUSTEE 3.00 X 0 0 0 SKIP MARTIN TRUSTEE 3.00 X 0 0 0 CAROL O'CONNOR TRUSTEE 3.00 X 0 0 0 CINDY O'LEARY TRUSTEE 3.00 X 0 0 0 MICHAEL POWERS TRUSTEE 3.00 X 0 0 0 SCOTT SWENOR TRUSTEE 3.00 X 0 0 0 TONY WHALING TRUSTEE 3.00 X 0 0 0 OLIVER OLSEN TRUSTEE 3.00 X 0 0 0 BILL CAIRNS TRUSTEE 3.00 X 0 0 0 PEGGY BROCKETT TRUSTEE 3.00 X 0 0 0 MARK TASHJIAN HEADMASTER 60.00 X 211095 0 37158 211095 0 37158 1 0 1 0 BREAD LOAF CORPORATION 1293 ROUTE 7 SOUTH MIDDLEBURY VT 05753 CONSTRUCTION SERVICES 1451274 CLARK COMPANIES PO BOX 427 41155 STATE ROUTE 10 DELHI NY 13753 CONSTRUCTION SERVICES 1037790 2 147550 525 1081209 1229284 TUITION AND FEES 611600 13762899 13762899 FOOD SERVICE 611600 350561 350561 14113460 471651 471651 6357071 6636310 -279239 -279239 -279239 104575 147550 58649 45926 45926 MISCELLANEOUS 611600 75226 75226 75226 15656308 14188686 0 238338 354793 354793 216300 108150 108150 8226176 7423541 496104 306531 2421834 2233140 93619 95075 619992 553806 37355 28831 27065 27065 27500 27500 61331 61331 69861 69861 879472 703906 155111 20455 15585 15585 61913 51971 9942 653434 643194 6343 3897 406560 402337 89 4134 93411 80037 12254 1120 44323 42770 962 591 1253691 1209754 27215 16722 209085 201757 4539 2789 SUPPLIES 598183 502837 77465 17881 COMMISSIONS, FEES, & SU 232718 200646 28478 3594 EQUIPMENT AND LEASES 141816 114036 25520 2260 SCHOLARSHIPS AND AWARDS 50355 50355 97018 68583 3379 25056 16762416 14961198 1154190 647028 902833 62837 1876136 1867613 309303 217324 7873 1703 26514 246917 31859965 13319665 17704356 18540300 19868166 18959797 56804 48133 40751985 39944624 1768007 1516011 1679499 2053448 706896 659770 412979 956614 1651305 1739013 6218686 6924856 X 16231918 16354255 4789288 3144136 13512093 13521377 34533299 33019768 40751985 39944624 X -1106108 -379503 -27920 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 61331 61331 0 PART II-B, LINE 1: HIRED A PROFESSIONAL LOBBYING FIRM TO MONITOR ON BEHALF OF THE ACADEMY LEGISLATIVE ACTIVITIES RELATED TO SCHOOL CHOICE AND INDEPENDENT SCHOOL GOVERNANCE. 0 19058393 15354 -147757 764253 18161737 18742638 68936 932409 685590 19058393 16410555 280420 2644700 593037 18742638 15901395 153035 1169515 29927 783463 16410555 13384809 2488604 56436 1700 26754 15901395 0.12000 0.74000 0.14000 0 0 1757213 1757213 20886221 7647730 13238491 7075446 4072457 3002989 2141085 1599478 541607 18540300 CASH HELD IN CUSTODY FOR OTHERS 89204 RETIREMENT BENEFIT LIABILITY 1649809 1739013 X 14952740 -379503 30728 -348775 15301515 354793 354793 15656308 16466271 58648 58648 16407623 354793 354793 16762416 PART V, LINE 4: THE ACADEMY MANAGES ITS ENDOWMENT FUNDS, INCLUDING DONOR RESTRICTED AND BOARD DESIGNATED ENDOWMENTS, IN ACCORDANCE WITH THE LAWS OF THE STATE OF VERMONT, SPECIFICALLY THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT. ACCORDINGLY, THE ACADEMY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ARE REVIEWED ANNUALLY AND ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. THE ACADEMY HAS ESTABLISHED A SPENDING POLICY THAT PROVIDES FOR THE APPROPRIATING FOR DISTRIBUTION EACH YEAR OF UP TO FIVE (5) PERCENT OF ITS ENDOWMENT FUND'S AVERAGE FAIR VALUE, MEASURED AND SMOOTHED ON A ROLLING 12-QUARTER BASIS. IN PRACTICE, THE ACADEMY APPROPRIATES APPROXIMATELY 4% OF THE ENDOWMENT FUND'S AVERAGE FAIR VALUE, MEASURED AND SMOOTHED ON A ROLLING 12-QUARTER BASIS. AMOUNTS REPORTED AS EXPENSES IN PART V LINES E THROUGH G ARE REPORTED ON A CASH BASIS. THEREFORE, THERE MAY BE TIMING DIFFERENCES BETWEEN WHEN THE EXPENSES WERE ACTUALLY INCURRED, IN ACCORDANCE WITH THE SPENDING POLICY AND APPROPRIATIONS, AND WHEN THE ENDOWMENT DRAW IS ACTUALLY MADE. THE SPENDING IS TO BE USED FIRST IN ACCORDANCE WITH DONOR RESTRICTIONS, IF ANY, AND THEN FOR OPERATIONS, SUPPORT OF CAPITAL EXPENDITURES INVESTMENTS, SCHOLARSHIPS TO STUDENTS, OR OTHER BOARD-DESIGNATED PURPOSES. PART X, LINE 2: EACH YEAR, MANAGEMENT CONSIDERS WHETHER ANY MATERIAL TAX POSITION THE ACADEMY HAS TAKEN IS MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAXING AUTHORITY. MANAGEMENT BELIEVES THAT ANY POSITIONS THE ACADEMY HAS TAKEN ARE SUPPORTED BY SUBSTANTIAL AUTHORITY AND, THEREFORE, DO NOT NEED TO BE MEASURED OR DISCLOSED IN THE FINANCIAL STATEMENTS. TAX RETURNS FOR THE YEARS SUBSEQUENT TO JUNE 30, 2012 ARE SUBJECT TO EXAMINATION BY TAX AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES FOR SPECIAL EVENTS INCLUDED IN THE FUNDRAISING EXPENSES IN THE STATEMENT OF FUNCTIONAL EXPENSES FOR THE AUDITED FINANCIAL STATEMENTS 58,648. CHANGE IN FAIR VALUE OF SPLIT INTEREST AGREEMENT -27,920. PART XI, LINE 4B - OTHER ADJUSTMENTS: GROSS UP REVENUES FOR SCHOLARSHIP EXPENSE NETTED OUT IN FINANCIAL STATEMENTS 354,793. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES FOR SPECIAL EVENTS INCLUDED IN THE FUNDRAISING EXPENSES IN THE STATEMENT OF FUNCTIONAL EXPENSES FOR THE AUDITED FINANCIAL STATEMENTS 58,648. PART XII, LINE 4B - OTHER ADJUSTMENTS: GROSS UP REVENUES FOR SCHOLARSHIP EXPENSE NETTED OUT IN FINANCIAL STATEMENTS 354,793. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 BURR & BURTON HAS INCLUDED ITS RACIALLY NONDISCRIMINATORY POLICY IN ITS COURSE STUDY BOOKLET, WHICH IS PROVIDED TO ALL PROSPECTIVE STUDENTS. THE POLICY CAN ALSO BE FOUND ON THE SCHOOL'S WEBSITE. SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES PAYMENTS FOR STUDENT TUITION FROM LOCAL MUNICIPALITIES WHOSE STUDENTS ATTEND THE ACADEMY. DINNER (GALA) 239954 147550 92404 32486 900 7619 REUNION 12171 12171 13417 750 3477 252125 147550 104575 45903 1650 11096 58649 45926 1 SCHOLARSHIPS TO STUDENTS 57 354793 FMV FINANCIAL AID PART III, COLUMN (B) THE NAMES AND ADDRESSES OF THE RECIPIENTS ARE INCLUDED IN THE CONFIDENTIAL RECORDS OF THE ACADEMY. X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 MARK TASHJIAN HEADMASTER 210314 0 781 0 0 0 25000 0 12158 0 248253 0 0 0 A VERMONT ECONOMIC DEVELOPMENT AUTHORITY (VEDA) 036024497 2004-09-29 5000000 CAMPUS IMPROVEMENTS 0 0 0 A 5000000 81364 4918636 2005 0 0 1 0 A 0 0 0 0 1 0 1 A 0 0 0 0 1 0 0 0 1 A 0 X 6 48062 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 THE 990 REVIEW COMMITTEE, AN AD HOC COMMITTEE OF THE BOARD OF TRUSTEES, REVIEWS THE FORM 990 IN DETAIL FOR ACCURACY AND COMPLETENESS TO THE BEST OF ITS ABILITY. THE 990 REVIEW COMMITTEE THEN REPORTS ITS FINDINGS AND RECOMMENDATIONS AND PROVIDES A DISCLOSURE COPY OF THE 990 TO THE BOARD. ANY ITEMS OF UNCERTAINTY ARE CLARIFIED AND/OR CORRECTED BEFORE THE RETURN IS FILED. THE COMMITTEE ADVISES THE FULL BOARD THAT THE FORM 990 HAS BEEN FILED AND THAT A FULL COPY IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C BURR AND BURTON ACADEMY REQUIRES THE ANNUAL COMPLETION OF THE CONFLICT OF INTEREST QUESTIONNAIRE. IF A CONFLICT ARISES DURING THE YEAR THEN THE INVOLVED PARTIES ARE REQUIRED TO REPORT IT AS IT ARISES. FORM 990, PART VI, SECTION B, LINE 15A CHAIR AND VICE CHAIR OF THE BOARD OF TRUSTEES ARE CHARGED WITH HEADMASTER COMPENSATION PACKAGE. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: SPECIAL EVENT FUNDRAISING EXPENSES CHANGE IN FAIR VALUE OF SPLIT INTEREST AGREEMENT -27,920. FORM 990, PART XI, LINE 2C: CHANGES IN ACCOUNT POLICIES AND PROCEDURES. THERE HAVE BEEN NO CHANGES FOR THE YEAR ENDED JUNE 30, 2016.