2016-10-31T09:43:56-05:00 2016-06-30 061009205 BLUM SHAPIRO & COMPANY PC 1 PINE HILL DRIVE SUITE 301 QUINCY MA 021697431 990 2015-07-01 042103636 WALNUT HILL SCHOOL FOR THE ARTS WALN 5086534312 12 HIGHLAND STREET NATICK MA 01760 BYRON SHEPPARD CFO 5086505015 2016-10-18 1 KEVIN T WHITE P00097855 7819821001 2016-10-17 2015 2017-02-10 21:41:12Z ANTONIO VIVA 12 HIGHLAND STREET NATICK MA 01760 25688445 0 X WWW.WALNUTHILLARTS.ORG X 1893 MA TO EDUCATE TALENTED, ACCOMPLISHED AND INTELLECTUALLY ENGAGED YOUNG ARTISTS FROM ALL OVER THE WORLD. THE SCHOOL DOES SO IN A DIVERSE, HUMANE AND ETHICAL COMMUNITY. 31 31 328 140 0 0 3495297 2307426 16987723 17298129 1399727 399297 25286 50996 21908033 20055848 3659844 3829663 0 0 7771783 8245530 0 0 734912 7767058 8014452 19198685 20089645 2709348 -33797 57745920 56388972 23355390 22868521 34390530 33520451 THE MISSION OF WALNUT HILL IS TO EDUCATE TALENTED, ACCOMPLISHED AND INTELLECTUALLY ENGAGED YOUNG ARTISTS FROM ALL OVER THE WORLD. THE SCHOOL DOES SO IN A DIVERSE, HUMANE AND ETHICAL COMMUNITY. 0 0 9917890 3723213 13336274 INSTRUCTIONAL EXPENSES RELATED TO EDUCATING STUDENTS IN GRADES 9 THROUGH 12 WHILE AT SCHOOL. THE SCHOOL ENROLLED APPROXIMATELY 294 STUDENTS DURING THE FALL AND SPRING SEMESTERS. WALNUT HILL STUDENTS IMMERSE THEMSELVES DEEPLY IN THEIR ART, GUIDED BY HIGHLY ACCOMPLISHED PROFESSIONAL ARTISTS WHO HAVE DEDICATED THEMSELVES TO SUPPORTING YOUNG PEOPLE ON THEIR ARTISTIC JOURNEYS. THIS TIME SPENT MASTERING AN ARTISTIC DISCIPLINE IS BALANCED BY ENGAGEMENT IN A RIGOROUS COLLEGE-PREPARATORY CURRICULUM THAT CHALLENGES STUDENTS TO ASK BIG QUESTIONS, SOLVE COMPLEX PROBLEMS, AND EXPLORE TRADITIONAL ACADEMIC SUBJECTS THROUGH INNOVATIVE, HANDS-ON LESSONS. 4576228 3138573 STUDENT ACTIVITIES, THEATER AND MUSIC PRODUCTIONS, TUTORING, DORM LIFE AND FOOD SERVICE AND STUDENT CLUBS. THE SCHOOL ENROLLED APPROXIMATELY 294 STUDENTS DURING THE FALL AND SPRING SEMESTERS. OF THE 294 STUDENTS, APPROXIMATELY 223 STUDENTS LIVED ON-CAMPUS. 1114594 106450 823282 SUMMER AND OTHER PROGRAM EXPENSES FOR UNENROLLED STUDENTS, SUCH AS THE COMMUNITY ARTS PROGRAM. THE SUMMER PROGRAMS ENROLLED APPROXIMATELY 201 STUDENTS AMONG MANY DIFFERENT PROGRAMS SUCH AS DANCE, VISUAL ARTS, MUSIC, WRITING AND THEATER. 15608712 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 0 1 0 1 0 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 30 0 1 328 1 0 0 0 0 0 1 1 0 0 0 0 X 31 31 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 1 1 1 1 0 MA X BYRON SHEPPARD CFO 5086505015 12 HIGHLAND STREET NATICK MA 01760 LYNDA K BECK TRUSTEE 5.00 X 0 0 0 CATHERINE T CHAN TRUSTEE 5.00 X 0 0 0 MATAN CHOREV TRUSTEE 5.00 X 0 0 0 SANDRA E DELBRIDGE TRUSTEE 5.00 X 0 0 0 BRUCE FIGUEROA TRUSTEE 5.00 X 0 0 0 LENIRA FLECK TRUSTEE 5.00 X 0 0 0 CHARLOTTE I HALL TRUSTEE 5.00 X 0 0 0 JUSTINE HAND TRUSTEE 5.00 X 0 0 0 OAKES HUNNEWELL TRUSTEE 5.00 X 0 0 0 KATHRYN COOK TRUSTEE 5.00 X 0 0 0 ANNE M MORGAN TRUSTEE 5.00 X 0 0 0 DAVID KIM TRUSTEE 5.00 X 0 0 0 CHARLES THACHER TRUSTEE 5.00 X 0 0 0 PETER TOLLMAN TRUSTEE 5.00 X 0 0 0 JENNY TOOLIN MCAULIFFE TRUSTEE 5.00 X 0 0 0 STEPHEN OLER TRUSTEE 5.00 X 0 0 0 MOLLY TOWER BYRNES TRUSTEE 5.00 X 0 0 0 AMINI KAJUNJU TRUSTEE 5.00 X 0 0 0 SARAH LOVELY TRUSTEE 5.00 X 0 0 0 KAREN MCKEEL CALBY TRUSTEE 5.00 X 0 0 0 JORDAN MCCULLOUGH TRUSTEE 5.00 X 0 0 0 STEVEN FAVREAU TRUSTEE 5.00 X 0 0 0 ROBERT GORDON TRUSTEE 5.00 X 0 0 0 KATE HUTTER TRUSTEE 5.00 X 0 0 0 BETSY KESSLER TRUSTEE 5.00 X 0 0 0 LORI PLACE TRUSTEE 5.00 X 0 0 0 ELIZABETH P MCCLENDON TRUSTEE/PRESIDENT 5.00 X X 0 0 0 HUGH GELCH TRUSTEE/VICE PRESIDENT 5.00 X X 0 0 0 JEFF FLOWERS TRUSTEE/TREASURER 5.00 X X 0 0 0 PATRICIA L DAVIDSON TRUSTEE/CLERK 5.00 X X 0 0 0 JANET EMERY PATTILLO TRUSTEE/ASSISTANT CLERK 5.00 X X 0 0 0 BYRON SHEPPARD CFO 40.00 X 86833 0 11801 ANTONIO VIVA HEAD OF SCHOOL 40.00 X 229365 0 56044 SUSANNE CARPENTER DIR. OF ADMISSIONS/ ASST. HEAD OF SCHOOL 40.00 X 117880 0 8743 434078 0 76588 2 0 1 0 JK SCANLAN COMPANY LLC 15 RESEARCH ROAD EAST FALMOUTH MA 023564440 CONSTRUCTION 2976999 SODEXO INC & AFFILIATES PO BOX 360170 PITTSBURGH PA 152516170 FOOD SERVICES 1549765 MATTHEW CONSTRUCTION COMPANY INC PO BOX 2580 NATICK MA 017603460 CONSTRUCTION 533083 LORUSSO CORP 3 BELCHER STREET PLAINVILLE MA 02762 CONSTRUCTION 288737 UG2 LLC PO BOX 5972 SPRINGFIELD MA 011015972 CLEANING AND FACILITIES 195950 23 2307426 103505 2307426 TUITION AND FEES 611600 16200622 16200622 SUMMER PROGRAMS 611600 823282 823282 STUDENT ACTIVITIES 611600 128553 128553 OTHER 611600 125447 125447 RENTAL - PROG. RELATED 611600 20225 20225 17298129 411722 411722 5486771 5488746 10450 -1975 -10450 -12425 -12425 184397 133401 50996 50996 20055848 17298129 0 450293 3532938 3532938 296725 296725 648600 379191 269409 6258340 5008468 1090157 159715 325887 248069 67693 10125 508320 366877 115132 26311 504383 342980 126096 35307 25149 25149 125726 125726 82562 82562 64842 11334 43942 9566 88348 88348 312237 35854 217307 59076 213245 213245 2016802 1662888 348069 5845 126908 15421 75148 36339 43794 24729 15747 3318 1469864 1248796 217687 3381 135016 92271 33894 8851 FOOD SERVICE 1462024 1462024 INSTRUCTIONAL PROGRAM E 961312 961312 OTHER EXPENSE 469666 126943 276983 65740 ENTERTAINMENT 122233 3550 118683 294724 167533 85262 41929 20089645 15608712 3746021 734912 4830610 1607248 4315607 1624000 597560 712485 208633 114834 70659 61141 23742 29651 284715 236724 47152253 17235653 23978072 29916600 15319058 14166293 3634081 3529686 4483183 4390310 57745920 56388972 1467026 1470894 8385803 8376092 12657751 12265861 795491 706355 49319 49319 23355390 22868521 X 13894083 13121055 9264043 9001812 11232404 11397584 34390530 33520451 57745920 56388972 X -33797 -842617 6335 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 18953139 0 -546160 711000 17695979 18562846 659449 436844 706000 18953139 18282100 330295 1929370 1978919 18562846 17109541 423066 1049553 300060 18282100 15969532 719117 606043 185151 17109541 0.40710 0.41570 0.17720 0 0 101810 101810 42998191 15342513 27655678 1576803 714036 862767 2475449 1179104 1296345 29916600 HEDGE FUND 936480 C PRIVATE EQUITY PARTNERSHIPS 298466 C REAL ESTATE 2294740 C 3529686 PERPETUAL TRUST 3648237 ASSETS OF SPLIT INTEREST AGREEMENTS 742073 4390310 DUE TO LIFE BENEFICIARIES OF SPLIT INTEREST AGREEMENTS 49319 49319 15402372 -842617 -3865257 -4707874 20110246 79003 -133401 -54398 20055848 16272451 133401 133401 16139050 79003 3871592 3950595 20089645 PART V, LINE 4: THE SCHOOL'S INTENDED USE OF ENDOWMENT FUNDS INCLUDES SCHOLARSHIP, FINANCIAL AID, FACULTY DEVELOPMENT, INVESTMENT IN PLANT AND VARIOUS OPERATIONAL NEEDS. PART XI, LINE 2D - OTHER ADJUSTMENTS: NET REALIZED & UNREALIZED GAIN ON SWAP 6,335. FINANCIAL AID -3,829,663. CAPITAL CAMPAIN EXPENSES -41,929. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD - BOOKSTORE -133,401. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD - BOOKSTORE 133,401. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 3,829,663. CAPITAL CAMPAIGN EXPENSES 41,929. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 PUBLISHED NON-DISCRIMINATORY POLICY IN REGIONAL NEWSPAPERS 1 ASIA 0 0 PROGRAM ACTIVITIES PARENT MEETINGS, PROSPECTIE STUDENTS AND FUNDRAISING MEETINGS 28584 0 0 0 0 0 0 28584 0 28584 FINANCIAL AID EAST ASIA AND THE PACIFIC 5 142000 APPLIED TO STUDENT TUITION CHARGES FINANCIAL AID NORTH AMERICA, CANADA, AND MEXICO 4 92675 APPLIED TO STUDENT TUITION CHARGES FINANCIAL AID SOUTH AMERICA 1 50300 APPLIED TO STUDENT TUITION CHARGES FINANCIAL AID EUROPE 3 11750 APPLIED TO STUDENT TUITION CHARGES 0 0 0 0 0 0 PART I, LINE 2: THE FUNDS AWARDED TO INDIVIDUALS OUTSIDE THE UNITED STATES REPRESENT FINANCIAL AID WHICH IS APPLIED BY THE SCHOOL DIRECTLY TO THE TUITION CHARGES OWED TO THE SCHOOL. THE INDIVIDUAL DOES NOT DIRECTLY RECEIVE THESE FUNDS. PART I, LINE 3: THE METHOD USED TO ACCOUNT FOR EXPENDITURES DISCLOSED IN THIS SCHEDULE IS THE ACCRUAL BASIS, CONSISTENT WITH THE AUDITED FINANCIAL STATEMENTS IN ACCORDANCE WITH GAAP. SCHEDULE F, PART I, LINE 1 THE ORGANIZATION USES FINANCIAL RECORDS FOR ALL FAMILIES THAT REQUEST ASSISTANCE AND UTILIZE THE SCHOOL AND STUDENT SERVICES (SSC) PROVIDED BY NAIS TO HELP DETERMINE THE AMOUNT OF ASSISTANCE REQUIRED BY A FAMILY. ALL DETERMINATIONS ARE MADE BY THE FINANCIAL AID COMMITTEE USING THE SSC CALCULATION, FINANCIAL RECORDS, AND ANY OTHER INFORMATION AVAILABLE. 1 FINANCIAL AID 167 3532938 PART I, LINE 2: FINANCIAL AID AWARDS ARE APPLIED DIRECTLY TO THE STUDENT'S OUTSTANDING TUITION BILL. CASH PAYMENTS ARE NOT MADE DIRECTLY TO RECIPIENTS. X X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 ANTONIO VIVA HEAD OF SCHOOL 229365 0 0 0 0 0 16625 0 39419 0 285409 0 0 0 PART I, LINE 1A THE SCHOOL REQUIRES THAT THE HEAD OF SCHOOL LIVE ON CAMPUS IN SCHOOL PROVIDED HOUSING. IT IS NOT CONSIDERED A TAXABLE BENEFIT AS THE HOUSE IS AVAILABLE TO CONDUCT SCHOOL BUSINESS IN, EVEN IF THE HEAD IS NOT THERE. IN ADDITION, WHILE THE HEAD IS IN THE HOUSING, HE IS AVAILABLE TO ASSIST THE NEEDS OF THE SCHOOL SHOULD THEY ARISE OUTSIDE OF NORMAL BUSINESS HOURS. DUE TO THE RESIDENTIAL COMPONENT OF THE SCHOOL, IT IS CRITICAL THAT THE HEAD BE AVAILABLE AND PRESENT AS MUCH AS POSSIBLE. THE SCHOOL OWNS A JEEP THAT IS RESERVED FOR USE BY THE HEAD OF SCHOOL. THE CURRENT HEAD OF SCHOOL ALSO OWNS AN AUTO THAT IS USED FOR PERSONAL USE. WHILE USING THE SCHOOL'S JEEP, THE HEAD OF SCHOOL IS AVAILABLE FOR SCHOOL BUSINESS VIA PHONE OR EMAIL. ANY USE OF THE SCHOOL'S JEEP WHILE THE HEAD OF SCHOOL IS NOT AVAILABLE IS TO BE REPORTED TO THE BUSINESS OFFICE. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2014-01-30 13160000 TO PAY OFF THE 2002 & 2006 SERIES BONDS 0 0 0 A 894139 13160000 89489 1425511 11645000 2014 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 1 0 0 0 0 0 0 1 A 1 PART II, LINE 11 THE $13,070,511 IS MADE UP OF $11,645,000 WHICH WAS USED TO REFINANCE THE 2002 AND 2006 PREVIOUSLY ISSUED BONDS AND $1,425,511. THE $1,425,511 WAS USED FOR FACILITY IMPROVEMENTS AND EXPANSION PROJECTS. ANTONIO VIVA HEAD OF SCHOOL OFFICER ALLOWS THE HEAD OF SCHOOL TO PUT A DOWN PAYMENT ON A HOUSE. X 90000 61141 0 1 1 61141 SCHEDULE L, PART II, LOANS TO AND FROM INTERESTED PERSONS THE SCHOOL ISSUED A PERSONAL LOAN TO THE HEAD OF SCHOOL IN THE AMOUNT OF $90,000. THE WRITTEN AGREEMENT INCLUDES A STATED INTEREST RATE OF 6% (OR, IF LOWER, THE MAXIMUM RATE ALLOWABLE BY LAW) WITH PAYMENT TERMS OVER 10 YEARS. THE LOAN WILL BE DUE IN FULL IN THE EVENT EMPLOYMENT BETWEEN THE HEAD OF SCHOOL AND THE SCHOOL IS TERMINATED FOR ANY REASON. THIS TRANSACTION WAS APPROVED BY THE BOARD OF TRUSTEES. THE HEAD OF SCHOOL IS STILL REQUIRED TO LIVE ON CAMPUS IN ACCORDANCE WITH HIS EMPLOYMENT AGREEMENT. X 12 103505 FMV AT DONATION DATE 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS FOR "SECURITIES- PUBLICLY TRADED" REPRESENTS THE NUMBER OF INDIVIDUALS WHO DONATED SECURITIES. THE NUMBER OF CONTIRBUTIONS FOR THE "VARIOUS AUCTION ITEMS" REPRESENTS THE NUMBER OF ITEMS RECEIVED FOR THE AUCTION. FORM 990, PART VI, SECTION B, LINE 11 ALL MEMBERS OF THE GOVERNING BODY HAVE NOT RECEIVED A COPY OF THE 990 PRIOR TO ITS FILING. THE BOARD OF TRUSTEES HAS APPOINTED THE RESPONSIBILITY OF OBTAINING AND REVIEWING THE FORM 990 TO THE AUDIT COMMITTEE. THE AUDIT COMMITTEE HAS RECEIVED A COPY OF THE FORM 990, IN ITS ENTIRETY (WITH THE EXCEPTION OF SCHEDULE B), AND REVIEWED IT FOR COMPLETENESS AND ACCURACY, PRIOR TO IT BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C ALL TRUSTEES ARE REQUIRED TO COMPLETE AN ANNUAL DISCLOSURE STATEMENT THAT INDICATES THAT THEY HAVE READ, UNDERSTOOD AND AGREE TO THE SCHOOL'S CONFLICT OF INTEREST POLICY. FURTHER, THE TRUSTEES ARE REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICTS (AS DEFINED IN THE POLICY) AND/OR NOTIFY THE HEAD OF SCHOOL IF ANY ADDITIONAL ISSUES ARISE THROUGHOUT THE YEAR. THE POLICY IS ENFORCED AND MONITORED BY THE HEAD OF SCHOOL AND/OR THE BOARD OF TRUSTEES. TRUSTEES WHO FAIL TO COMPLETE THE ANNUAL DISCLOSURE FORM ARE ASKED TO VERBALLY CONFIRM THE INFORMATION IN THE ANNUAL DISCLOSURE STATEMENT AND ALSO DISCUSS ANY POTENTIAL CONFLICTS AT THE NEXT BOARD MEETING. AT JUNE 30, 2016, THE POLICY APPLIED ONLY TO TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES WILL DETERMINE COMPENSATION FOR THE HEAD OF SCHOOL AND OTHER OFFICERS USING THE FOLLOWING CRITERIA: 1. THE TRANSACTION IS APPROVED BY AN AUTHORIZED BODY OF THE ORGANIZATION, WHICH IS COMPOSED OF INDIVIDUALS WHO DO NOT HAVE A CONFLICT OF INTEREST CONCERNING THE TRANSACTION. 2. PRIOR TO MAKING ITS DETERMINATION, THE AUTHORIZED BODY OBTAINED AND RELIED UPON APPROPRIATE DATA AS TO COMPARABILITY. 3. THE AUTHORIZED BODY ADEQUATELY DOCUMENTS THE BASIS FOR DETERMINATION CONCURRENTLY WITH MAKING THAT DETERMINATION. THE DOCUMENTATION WILL INCLUDE: -THE TERMS OF THE APPROVED TRANSACTION AND THE DATE APPROVED; -THE MEMBERS OF THE AUTHORIZED BODY WHO WERE PRESENT DURING DEBATE ON THE TRANSACTION THAT WAS APPROVED AND THOSE WHO VOTED ON IT; -THE COMPARABILITY DATA OBTAINED AND RELIED UPON BY THE AUTHORIZED BODY AND HOW THE DATA WAS OBTAINED; -ANY ACTIONS BY A MEMBER OF THE AUTHORIZED BODY HAVING A CONFLICT OF INTEREST; AND -DOCUMENTATION OF THE BASIS FOR THE DETERMINATION BEFORE THE LATER OF THE NEXT MEETING OF THE AUTHORIZED BODY OR 60 DAYS AFTER THE FINAL ACTIONS OF THE AUTHORIZED BODY ARE TAKEN AND APPROVAL OF RECORDS AS REASONABLE, ACCURATE AND COMPLETE WITHIN A REASONABLE TIME THEREAFTER. THIS PROCESS WAS LAST UTILIZED IN THE SPRING OF 2015 TO DETERMINE THE HEAD OF SCHOOL'S SALARY. IT RESULTED IN A MULTI- YEAR CONTRACT. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES THESE DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON SPLIT INTEREST 6,335.