2016-02-10T14:50:59-06:00 2015-06-30 061009205 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2014-07-01 060646687 KENT SCHOOL KENT 8609276046 PO BOX 2006 KENT CT 06757 JEFFREY D CATALDO ASSISTANT TREASURER & CFO 8609276046 2016-02-10 1 ELIZABETH SOLECKI P00235171 8605614000 2016-02-10 2014 2016-08-17 19:52:53Z JEFFREY D CATALDO PO BOX 2006 KENT CT 06757 51034769 0 X WWW.KENT-SCHOOL.EDU X 1906 CT NON-PROFIT, INDEPENDENT, PREPATORY SCHOOL; EDUCATING APP. 520 BOARDING AND 50 DAY STUDENTS. 28 27 269 0 -122019 -233009 2550861 6568663 31521647 33048104 4842517 5535300 117300 127965 39032325 45280032 7382580 7636742 0 0 16349165 16677368 0 0 1741622 14262747 15693480 37994492 40007590 1037833 5272442 158172517 161996675 45822450 50796424 112350067 111200251 ESTABLISH AND MAINTAIN A SCHOOL WHICH SHALL PROVIDE FOR BOYS AND GIRLS OF ABILITY AND CHARACTER AN ACADEMIC COURSE OF INSTRUCTION. SIMPLICITY OF LIFE, SELF-RELIANCE, AND DIRECTNESS OF PURPOSE ARE TO BE ESPECIALLY ENCOURAGED. 0 0 33071641 7636742 33015404 INDEPENDENT, CO-EDUCATIONAL PREPATORY SCHOOL; EDUCATING BOTH BOARDING AND DAY STUDENTS. SIMPLICITY OF LIFE, SELF-RELIANCE AND DIRECTNESS OF PURPOSE ARE TO BE ESPECIALLY ENCOURAGED IN BOTH BOY AND GIRL STUDENTS. 33071641 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 1 1 0 0 0 1 67 0 1 269 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 X 28 27 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X JEFFREY D CATALDO BUSINESS MGR CFO & ASST TREASURER 8609276046 PO BOX 2006 KENT CT 067570640 DAVID C CLAPP VICE PRESIDENT & TRUSTEE 2.00 X X 0 0 0 ROBERT S ANDERSON TREASURER & TRUSTEE 2.00 X X 0 0 0 CATHLEEN P BLACK TRUSTEE 2.00 X 0 0 0 ANDREW A BOGLE TRUSTEE 2.00 X 0 0 0 FREDERIC A BOURKE III TRUSTEE 2.00 X 0 0 0 JOHN HARVEY TRUSTEE 2.00 X 0 0 0 WILLIAM G CAREY III TRUSTEE 2.00 X 0 0 0 THOMAS CRAIG TRUSTEE 2.00 X 0 0 0 SIR RICHARD B DEARLOVE TRUSTEE 2.00 X 0 0 0 ANN DICKINSON TRUSTEE 2.00 X 0 0 0 ALICE C FRELINGHUYSEN TRUSTEE 2.00 X 0 0 0 PETER W GETSINGER TRUSTEE 2.00 X 0 0 0 ROBERT F HOERLE TRUSTEE 2.00 X 0 0 0 HENRIK VANDERLIP TRUSTEE 2.00 X 0 0 0 HELEN M PARDOE TRUSTEE 2.00 X 0 0 0 WILLIAM C PETTY III TRUSTEE 2.00 X 0 0 0 LORD JONATHAN ROTHERMERE TRUSTEE 2.00 X 0 0 0 LYNN DOE SHIPWAY TRUSTEE 2.00 X 0 0 0 BRUCE N WHITMAN TRUSTEE 2.00 X 0 0 0 KIMBERLY BRAINARD NAYLOR TRUSTEE 2.00 X 0 0 0 RENE A LACERTE TRUSTEE 2.00 X 0 0 0 WILLIAM W WURTS TRUSTEE 2.00 X 0 0 0 BENJAMIN WARING PARTRIDGE IV PRESIDENT & TRUSTEE 2.00 X X 0 0 0 MAGALEN C WEBERT TRUSTEE 2.00 X 0 0 0 N ROGAN DONELLY TRUSTEE 2.00 X 0 0 0 DR ERNEST W FRANKLIN IV TRUSTEE 2.00 X 0 0 0 AMY MACARTNEY FREIDENRICH TRUSTEE 2.00 X 0 0 0 DR CALESTOUS JUMA TRUSTEE 2.00 X 0 0 0 RICHARDSON W SCHELL SECRETARY & HEADMASTER 60.00 X 374114 0 121839 JEFFREY D CATALDO ASST. TREASURER & CFO 50.00 X 218529 0 163031 MARC CLOUTIER ASST. SECRETARY & DIR OF DEVELOPMENT 50.00 X 143523 0 94748 ADAM FISCHER FUNDRAISER 50.00 X 123090 0 68163 KENT ALLEY FUNDRAISER 50.00 X 106823 0 101511 CATHERINE MAZZA DEAN OF STUDENTS 50.00 X 117080 0 67438 TODD MARBLE DIRECTOR OF ATHLETICS 50.00 X 103215 0 34932 SARAH ROSS DIRECTOR OF ADMISSIONS 50.00 X 107268 0 24703 1293642 0 676365 8 0 1 0 ABM JANITORIAL SERVICES PO BOX 1534 NEW YORK NY 10008 CLEANING SERVICE 607031 WILLIAM C GAWEL PO BOX 31 KENT CT 06575 EXCAVATION & SNOW REMOVAL 232006 PERKINS COIE LLP 30 ROCKEFELLER PLAZA NEW YORK NY 10112 LEGAL 148022 VERACROSS SOFTWARE 401 EDGEWATER PLACE WAKEFIELD MA 01880 SOFTWARE MAINTENANCE 146124 DAY PITNEY LLP 7 TIMES SQUARE NEW YORK NY 10036 LEGAL 128485 8 10299 6558364 1464649 6568663 TUITION & RELATED SERV. 611710 32344465 32344465 OTHER PROGRAM RELATED FEES 611710 507327 507327 SUMMER RENTAL INCOME 531190 163612 163612 MEMBERSHIP DUES 713940 32700 32700 33048104 1167510 -154719 1322229 9853342 5485552 4367790 4367790 4367790 397150 269185 127965 127965 45280032 33015404 -122019 5817984 7636742 7636742 1132560 226393 619915 286252 66250 66250 11150026 9336069 1145961 667996 1193114 1057391 102706 33017 2309927 2057988 156836 95103 825491 659391 106157 59943 778555 778555 72418 72418 682077 682077 181051 150844 24707 5500 23662 23662 1399837 1019775 233887 146175 169907 102061 25956 41890 3105055 3105055 539258 336750 106896 95612 48513 48513 951524 951524 3195565 3003831 159778 31956 269237 269237 EQUIP. RENTAL & MAINT. 1295940 1257441 38499 FOOD 689495 689495 CATALOGUE 11294 11294 2280092 1403347 647080 229665 40007590 33071641 5194327 1741622 11552378 13385981 5245720 6090515 1357308 1083586 294700 236303 255907 355573 118143266 55376483 64508466 62766783 59449290 64069737 14824640 13411738 684108 596459 158172517 161996675 2174362 2419981 10227526 15877026 31503145 29293271 1917417 3206146 45822450 50796424 X 52813683 49319491 15419656 12686569 44116728 49194191 112350067 111200251 158172517 161996675 X 5272442 -4591808 -1830450 X 0 1 X 1 0 X 3908326 3604886 6174759 2550861 6568663 22807495 3908326 3604886 6174759 2550861 6568663 22807495 6284763 16522732 968579 925471 1040730 1020738 1322229 5277747 576622 378841 344895 367989 397150 2065497 30150739 152698875 0.54800 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 67039307 3822485 271431 3705234 67427989 59788594 1778186 9657527 4185000 67039307 55822436 1261351 6642807 3938000 59788594 59690734 654696 -864994 3658000 55822436 52804510 628572 9985652 3728000 59690734 0.17000 0.68000 0.15000 0 0 705347 705347 95571287 38428061 57143226 12205826 10339614 1866212 9660806 6608808 3051998 62766783 ALTERNATIVE INVESTMENTS 11787214 F REAL ESTATE 250000 F SPLIT INTEREST AGREEMENTS 1374524 F 13411738 ACCRUED PENSION EXPENSE 2518460 POOLED INCOME FUND LIABILITY 303443 LIABILITY UNDER SPLIT INTEREST AGREEMENTS 384243 3206146 31698926 -4591808 -9258483 -13850291 45549217 -269185 -269185 45280032 32848742 2099634 2099634 30749108 9258482 9258482 40007590 PART V, LINE 4: THE INTENDED USE OF THE ORGANIZATION'S ENDOWMENT FUNDS ARE TO SUPPORT THE SCHOOL'S MISSION. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID/TUITION REMISSION -8,583,142. INVESTMENT FEES -675,339. ROUNDING -2. PART XI, LINE 4B - OTHER ADJUSTMENTS: COGS -269,185. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS 269,185. CHANGE IN PENSION LIABILITY 1,830,449. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID/TUITION REMISSION 8,583,143. INVESTMENT FEES 675,339. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 A NOTICE OF OUR NONDISCRIMINATORY POLICY AS TO STUDENTS WAS PUBLISHED IN THE HARTFORD COURANT SCHEDULE E, PART I, LINE 6 KENT SCHOOL RECEIVES A GRANT FROM THE REGION 1 SCHOOL DISTRICT. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 FUNDRAISING 14673 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM ADMISSIONS 23754 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM ADMISSIONS 8976 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM ADMISSIONS 20321 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 PROGRAM ADMISSIONS 1372 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 17100 SOUTH AMERICA 0 0 PROGRAM ADMISSIONS 2259 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 FUNDRAISING 17635 0 0 0 0 0 0 106090 0 106090 0 0 1 0 0 0 1 STUDENT FINANCIAL AID 223 7636742 FAIR VALUE WAIVE TUITION, FEES, AND OTHER CHARGES FOR THOSE STUDENTS WHO QUALIFY FOR AID. PART I, LINE 2: FINANCIAL AID IS PROVIDED VIA A WAIVER OF TUITION, FEES, AND OTHER CHARGES. X X X 1 1 X X X X X X 0 1 0 0 0 0 0 0 0 RICHARDSON W SCHELL SECRETARY & HEADMASTER 371964 0 0 0 2150 0 98706 0 23133 0 495953 0 0 0 JEFFREY D CATALDO ASST. TREASURER & CFO 214429 0 0 0 4100 0 24338 0 138693 0 381560 0 0 0 MARC CLOUTIER ASST. SECRETARY & DIR OF DEVELOPMENT 143523 0 0 0 0 0 67139 0 27609 0 238271 0 0 0 ADAM FISCHER FUNDRAISER 115454 0 0 0 7636 0 13623 0 54540 0 191253 0 0 0 KENT ALLEY FUNDRAISER 106823 0 0 0 0 0 12402 0 89109 0 208334 0 0 0 CATHERINE MAZZA DEAN OF STUDENTS 117080 0 0 0 0 0 44291 0 23147 0 184518 0 0 0 PART I, LINE 1A BUSINESS CLASS TRAVEL IS PROVIDED FOR THE HEADMASTER ON CERTAIN EUROPEAN TRIPS. CERTAIN EMPLOYEES, INCLUDING THE HEADMASTER, ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. A CLEANING SERVICE IS PROVIDED FOR THE HEADMASTER'S RESIDENCE. PART I, LINE 4B MARC CLOUTIER PARTICIPATES IN A 457(F) PLAN. A CHEFA 060806186 2013-03-28 17490000 REFUND EXISTING DEBT & ISSUANCE OF NEW DEBT 0 0 0 B CHEFA 060806186 20774YTY3 2014-11-13 12765386 REFUND EXISTING DEBT 0 0 0 A 17490000 786281 155000 7213719 9335000 2014 0 1 1 1 B 12765386 255243 12510143 2004 1 0 1 1 A 0 0 0 0 0.01000 0.00000 0.01000 0 0 1 B 0 0 0 0 0.01000 0.01000 0 0 1 A 0 1 1 0 0 0 0 0 1 B 0 1 1 0 0 0 0 0 1 A 1 B 1 PART II, LINE 11 - OTHER SPENT PROCEEDS: OTHER SPENT PROCEEDS WERE USED TO REFUND A PRIOR ISSUE. BETTINA CLOUTIER SPOUSE OF AN OFFICER 66250 EMPLOYMENT 0 BENJAMIN WARING PARTRIDGE PRESIDENT & TRUSTEE 229200 RENTAL PAYMENTS 0 SCHEDULE L, PART IV: IN MARCH OF 2013 THE SCHOOL ENTERED INTO A 60 MONTH LEASE FOR A BUILDING AND SURROUNDING PROPERTY WITH A SINGLE MEMBER LLC OWNED BY BENJAMIN WARING PARTRIDGE.EMPLOYMENT OF INTERESTED PERSONS IS REVIEWED AND APPROVED AS APPROPRIATE BASED ON THE INDIVIDUAL'S ABILITY TO PERFORM THE JOB. X 60 1464649 FMV 0 1 0 FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION CONSIST OF THE HEADMASTER AND THE CURRENT MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE ORGANIZATION VOTE ON THE TRUSTEE NOMINATIONS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS VOTE ON AND APPROVE DECISIONS. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 AND ALL RELATED SCHEDULES ARE REVIEWED WITH THE CHAIR OF THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. THE AUDIT CHAIR HAS RESPONSIBILITY FOR ENSURING BOTH ACCURATE AND COMPLETE FINANCIAL AND TAX DISCLOSURE. ONCE FORM 990 IS APPROVED BY THE AUDIT CHAIR, FORM 990, EXCLUDING THE SCHEDULE B, IS PROVIDED TO ALL VOTING MEMBERS OF THE BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE SCHOOL SURVEYS THE FULL BOARD OF TRUSTEES TO DETERMINE IF A CONFLICT OF INTEREST EXISTS. THE PROCESS IS REVIEWED BY BOTH THE HEADMASTER'S OFFICE AND THE BUSINESS MANAGER'S OFFICE TO CONFIRM NO CONFLICT OF INTEREST OR TO REVIEW THE POSSIBLE CONFLICT AND RESOLVE AS APPROPRIATE. ALL CONFLICTS MUST BE VOTED ON AND APPROVED BY THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION FOR THE HEAD OF SCHOOL IS DETERMINED BY A COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE COMMITTEE WILL CONSIDER THE SKILL SET OF THE HEAD OF SCHOOL, THE EXPERIENCE LEVEL OF THE HEAD OF SCHOOL AND WILL BENCHMARK CURRENT COMPENSATION AND PROPOSED COMPENSATION AGAINST OTHER HEADMASTERS IN OUR PEER GROUP. FURTHER, THE COMMITTEE, IF IT DEEMS APPROPRIATE, WILL LOOK TO THE ADVICE OF A 3RD PARTY CONSULTANT TO VALIDATE COMPENSATION. THE COMMITEE WILL THEN MAKE A RECOMMENDATION AS TO THE COMPENSATION WHICH WILL BE APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD. FOR OTHER OFFICERS AND KEY EMPLOYEES, THE BUSINESS MANAGER AND THE HEADMASTER WILL REVIEW COMPENSATION IN CONJUNCTION WITH JOB RESPONSIBILITY, SKILL SET AND EXPERIENCE. THE JOB WILL THEN BE BENCHMARKED AGAINST OTHER POSITIONS AT OTHER SCHOOLS WITHIN OUR PEER GROUP. THE PROPOSED COMPENSATION WILL THEN BE DISCUSSED AS NECESSARY WITH MEMBERS OF THE BOARD'S EXECUTIVE COMMITTEE. IN THE RECENT PAST, A 3RD PARTY CONSULTANT HAS NOT BEEN USED TO SET THE COMPENSATION FOR OTHER OFFICERS OR KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL'S BY LAWS, CERTIFICATE OF INCORPORATION, AUDITED FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND ALL TAX RELATED DOCUMENTATION WILL BE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN PENSION LIABILITY -1,830,449. ROUNDING -1. PART VII, SECTION A - COMPENSATION: THE KENT SCHOOL HAS DISCLOSED THE VALUE OF HOUSING AS A NONTAXABLE BENEFIT ON PART VII, SECTION A AND ON SCHEDULE J. HOWEVER, THE KENT SCHOOL DOES NOT CONSIDER THE HOUSING TO BE AN EMPLOYEE BENEFIT. HOUSING IS A CONDITION OF EMPLOYMENT THAT IS REQUIRED AND NECESSARY TO ALLOW CERTAIN EMPLOYEES TO PERFORM THEIR JOB RESPONSIBILITIES. POOLED INCOME FUND (22) CHARITABLE TRUST CT T 1 CHARITABLE REMAINDER TRUST (3) CHARITABLE TRUST CT T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0