2015-11-10T08:05:48-06:00 2015-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 1000 CHARLOTTE NC 28204 990 2014-07-01 560623935 CHARLOTTE COUNTRY DAY SCHOOL CHAR 7049434500 1440 CARMEL ROAD CHARLOTTE NC 282265096 DAVID L MANCOS CHIEF FINANCIAL OFFICER 7049434551 2015-11-02 1 JANICE A RATICA P00358837 7043771678 2014 2016-03-07 17:11:31Z MARK REED 1440 CARMEL ROAD CHARLOTTE NC 28226 56559604 0 X WWW.CHARLOTTECOUNTRYDAY.ORG X 1941 NC CHARLOTTE COUNTRY DAY SCHOOL PROVIDES COMPREHENSIVE EDUCATIONAL PROGRAMS FOR GRADES PRE-KINDERGARTEN THROUGH GRADE 12 ON A NON-DISCRIMINATORY BASIS. 27 27 622 600 -192163 -192163 3494855 3579391 36016624 36704726 6784641 3848555 592270 294171 46888390 44426843 3859701 2073746 0 0 24548347 27665880 0 57148 1930915 11427004 11371984 39835052 41168758 7053338 3258085 123178838 126973723 30182028 30703341 92996810 96270382 X THROUGH EXCELLENCE IN EDUCATION, CHARLOTTE COUNTRY DAY SCHOOL DEVELOPS THE POTENTIAL OF EACH STUDENT BY FOSTERING INTELLECTUAL CURIOSITY, PRINCIPLED CHARACTER, ETHICAL LEADERSHIP AND A RESPONSIBILITY TO SERVE. THE KEY VALUES AND COMMITMENTS ARE EDUCATIONAL EXCELLENCE, CHARACTER, COMMUNITY, AND SERVICE. 0 0 31510247 2073746 33440426 INSTRUCTIONAL - FUNDS WERE USED TO PROVIDE COMPREHENSIVE EDUCATIONAL PROGRAMS TO APPROXIMATELY 1,600 STUDENTS IN GRADES PRE-KINDERGARTEN THROUGH GRADE 12. 857123 1908015 SPECIAL PROGRAM FEES - FUNDS WERE USED TO PROVIDE SPECIAL PROGRAMS, SUCH AS EXTENDED DAY CARE, ATHLETIC CAMPS AND CLINICS AND EDUCATIONAL RESOURCES TO STUDENTS IN GRADES PRE-KINDERGARTEN TO 12. 1560081 1493362 AUXILIARY SERVICES - FUNDS WERE USED TO PROVIDE FOOD, CAMPUS STORE, AND TRANSPORTATION TO STUDENTS IN GRADES PRE-KINDERGARTEN TO 12. 33927451 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 1 44 2 1 622 1 0 0 0 0 0 0 0 0 0 0 X 27 27 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DAVID L MANCOS 7049434551 1440 CARMEL ROAD CHARLOTTE NC 282265096 ADELLE ANTHONY-WILLIAMS TRUSTEE 3.00 X 0 0 0 DAVID M BENSON TRUSTEE 3.00 X 0 0 0 EDISON P CASSELS TRUSTEE 3.00 X 0 0 0 THERESA DREW TRUSTEE 3.00 X 0 0 0 KEN V GARCIA TRUSTEE 3.00 X 0 0 0 DWIGHT L HOLLIER TRUSTEE 3.00 X 0 0 0 DR AMEESHA P KANSUPADA TRUSTEE 3.00 X 0 0 0 KATHLEEN KNOX KRUPA TRUSTEE 3.00 X 0 0 0 JAMES H MCLAWHORN TRUSTEE 3.00 X 0 0 0 LEIGH F MORAN TRUSTEE 3.00 X 0 0 0 AMY F OWEN TRUSTEE 3.00 X 0 0 0 MARY CLAUDIA BELK PILON TRUSTEE 3.00 X 0 0 0 WALKER L POOLE TRUSTEE 3.00 X 0 0 0 STEVEN L PURDY TRUSTEE 3.00 X 0 0 0 SALLY SAUSSY TRUSTEE 3.00 X 0 0 0 LAURA A SHULTE TRUSTEE 3.00 X 0 0 0 SCOTT STEVENS TRUSTEE 3.00 X 0 0 0 A WELLFORD TABOR TRUSTEE 3.00 X 0 0 0 RONALD A VIETH TRUSTEE 3.00 X 0 0 0 BILL ZIMMERN TRUSTEE 3.00 X 0 0 0 LOUIS A BLEDSOE III CHAIR & TRUSTEE 3.00 X X 0 0 0 D ANN CAULKINS VICE CHAIR & TRUSTEE 3.00 X X 0 0 0 DR CHERYL D COURTLANDT VICE CHAIR & TRUSTEE 3.00 X X 0 0 0 TODD A GORELICK VICE CHAIR & TRUSTEE 3.00 X X 0 0 0 DR JAMES W ROBERTS VICE CHAIR & TRUSTEE 3.00 X X 0 0 0 ARTHUR C ROSELLE VICE CHAIR & TRUSTEE 3.00 X X 0 0 0 GARY R WOLFE SECRETARY-TREASURER & TRUSTEE 3.00 X X 0 0 0 MARK REED HEAD OF SCHOOL 70.00 X 381600 0 99023 DAVID L MANCOS CHIEF FINANCIAL OFFICER 70.00 X 246808 0 23700 LAUREN BATTEN DIRECTOR OF ADVANCEMENT 50.00 X 178250 0 55195 KEVIN S DALY MS, PE INSTRUCTOR 50.00 X 152816 0 14210 WARREN M SEPKOWITZ HEAD OF MIDDLE SCHOOL 50.00 X 140870 0 36515 MATTHEW T LESS HEAD OF UPPER SCHOOL 50.00 X 130020 0 74026 JOHN M BURKE INFORMATION SYSTEMS MANAGER 50.00 X 122645 0 15356 RONALD CURTIN US, INSTRUCTOR, SCIENCE 50.00 X 111429 0 14629 1464438 0 332654 12 0 1 0 ALADDIN FOOD MANAGEMENT SERVICES LLC 21 ARMORY DR WHEELING WV 26003 FOOD SERVICES 1078715 THE BUDD GROUP PO BOX 890856 CHARLOTTE NC 282890856 JANITORIAL 689051 SHOWALTER CONSTRUCTION CO INC PO BOX 220289 CHARLOTTE NC 28222 CONSTRUCTION 324363 KNIGHT TRAVEL PO BOX 470067 CHARLOTTE NC 282470067 TRAVEL AGENCY 247082 EDISON FOARD INC PO BOX 19888 CHARLOTTE NC 28219 CONSTRUCTION 233787 9 3579391 699518 3579391 TUITION 611710 33303349 33303349 PROGRAM FEES 611710 1908015 1908015 FOOD SERVICES 611710 1109346 1109346 TRANSPORTATION 480000 384016 384016 36704726 4310442 -192163 4502605 31711 0 31711 31711 31711 11116313 5393 11237316 346277 -121003 -340884 -461887 -461887 318658 261477 57181 57181 109166 37783 71383 71383 246735 249908 -3173 -3173 OTHER INCOME 900099 63939 63939 APPLICATION FEES 611710 48380 48380 FORFEITED DEPOSITS 611710 24750 24750 137069 44426843 36841795 -192163 4197820 2073746 2073746 984576 751131 233445 19720821 17270082 1803416 647323 976842 838910 97468 40464 4487060 3688320 718332 80408 1496581 1277229 163175 56177 15029 11599 3430 67370 67370 57148 57148 303333 303333 1889520 1543503 246473 99544 98207 5215 9140 83852 585158 220616 255237 109305 680126 485934 97096 97096 960484 576290 192097 192097 214113 162236 34837 17040 203740 18061 34432 151247 298034 283132 14902 2149505 2042030 107475 300537 34639 265898 BOOKS & EDUCATIONAL PRO 1571461 1571461 GROUNDS EXPENSE & MAINT 831218 789657 41561 FOOD SERVICE & HOSPITAL 578809 578809 ATHLETIC EXPENSE 452096 452096 173244 15485 95420 62339 41168758 33927451 5310392 1930915 8192993 10755319 2023125 588993 4373973 4086188 250021 322190 161608 167792 225910 336007 73944531 33392923 41455868 40551608 66330724 70014080 164616 151546 123178838 126973723 3496698 3998439 6861931 8335005 19390000 18045000 433399 324897 30182028 30703341 X 60053482 60180605 15109403 17411921 17833925 18677856 92996810 96270382 123178838 126973723 X 3258085 -93015 108502 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 46364182 940915 3670553 161120 620880 50193650 39955486 451802 6575525 163167 455464 46364182 23058721 14827670 2681155 176504 435556 39955486 23519298 825606 -680183 156656 449344 23058721 18682319 1642735 3794244 195215 404785 23519298 0.35600 0.36800 0.27600 0 0 2767619 2767619 51095416 20559673 30535743 11427291 9012324 2414967 8654205 3820926 4833279 40551608 BONDS & FIXED INCOME FUNDS 19866134 F PRIVATE INVESTMENT FUNDS 50147946 F 70014080 LIABILITY UNDER SWAP AGREEMENT 324897 324897 X 42953445 -93015 -2289840 -2382855 45336300 -909457 -909457 44426843 39679873 909457 909457 38770416 2398342 2398342 41168758 PART V, LINE 4: ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS, GENERAL OPERATING EXPENSES AND PROPERTY AND EQUIPMENT IMPROVEMENTS AND UPKEEP. PART X, LINE 2: IN ACCORDANCE WITH INTERNAL REVENUE CODE REGULATIONS, THE SCHOOL IS TAXED ON UNRELATED BUSINESS INCOME, WHICH CONSISTS OF EARNINGS FROM ACTIVITIES NOT RELATED TO THE EXEMPT PURPOSE OF THE SCHOOL. THE SCHOOL ACCOUNTS FOR TAX UNCERTAINTIES BASED ON A MORE LIKELY THAN NOT RECOGNITION THRESHOLD WHEREBY TAX BENEFITS ARE ONLY RECOGNIZED WHEN THE SCHOOL BELIEVES THAT THEY HAVE A GREATER THAN 50% LIKELIHOOD OF BEING SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT HAS EVALUATED ALL ITS TAX POSITIONS AND DETERMINED THAT THE SCHOOL HAS NO UNCERTAIN INCOME TAX POSITIONS AS OF JUNE 30, 2015 AND 2014. MANAGEMENT BELIEVES THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR TAX YEARS PRIOR TO JUNE 30, 2012. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIPS SHOWN NET OF TUITION ON FINANCIALS -2,073,746. UNREALIZED GAIN ON SWAP AGREEMENT 108,502. INVESTMENT AND BANK FEES SHOWN NET OF INVESTMENT INCOME ON FINANCIALS -324,596. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -249,908. SPECIAL EVENT EXPENSES -318,665. LOSS ON ABANDONMENT AND EQUIPMENT DISPOSAL -340,884. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 249,908. SPECIAL EVENT EXPENSES 318,665. LOSS ON ABANDONMENT AND EQUIPMENT DISPOSAL 340,884. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIPS SHOWN NET OF TUITION ON FINANCIALS 2,073,746. INVESTMENT AND BANK FEES SHOWN NET OF INVESTMENT INCOME ON FINANCIALS 324,596. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL'S RACIALLY NON-DISCRIMINATORY POLICY TOWARDS STUDENTS IS PUBLISHED THROUGH A PRINTED STATEMENT OF THE SCHOOL'S ADMINISTRATION POLICY IN A LOCAL NEWSPAPER AND MAGAZINES. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES INTERNATIONAL STUDIES SISTER SCHOOL EXCHANGE (INCLUDE HOMESTAYS, SIGHTSEEING, AND SOME CLASSES) 17580 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES INTERNATIONAL STUDIES SISTER SCHOOL EXCHANGES, ACADEMIC EXPERIENCES (STUDY ABROAD), AND MODEL UNITED NATIONS EXPEDITION 43365 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES INTERNATIONAL STUDIES ACADEMIC EXPERIENCE 2350 NORTH AMERICA 0 0 PROGRAM SERVICES INTERNATIONAL STUDIES SISTER SCHOOL EXCHANGES AND SISTER SCHOOL VISIT BY NEW DIRECTOR OF INTERNATIONAL STUDIES 15313 SOUTH AMERICA 0 0 PROGRAM SERVICES INTERNATIONAL STUDIES SISTER SCHOOL EXCHANGE 5400 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES INTERNATIONAL STUDIES SERVICE EXPERIENCE (PROJECTS RANGING FROM MURAL PAINTING TO CONSTRUCTION) 6550 0 0 0 0 0 0 90558 0 90558 1 0 0 0 0 0 X X X X X X 0 GRENZEBACH GLIER AND ASSOCIATES 401 N MICHIGAN AVE 28 CHICAGO IL 60611 CAMPAIGN READINESS STUDY AND PLAN 0 0 53482 -53482 53482 -53482 BIG SATURDAY 129976 129976 75872 USED TEXTBOOK SALES 35644 35644 17587 3 153038 153038 168018 318658 318658 261477 261477 57181 109166 32986 4797 1 1.00000 109166 32986 4797 37783 71383 NC 1 NO LICENSE IS REQUIRED. 0 1 0 0.50000 0.50000 DAVID MANCOS 1440 CARMEL ROAD CHARLOTTE NC 28226 0 0 1 FINANCIAL AID 160 1890866 SCHOLARSHIPS 37 182880 PART I, LINE 2: THE AMOUNT OF THE FINANCIAL AID OR SCHOLARSHIP IS ONLY APPLIED TO A STUDENTS' BILLING ACCOUNT. THE FINANCIAL AID COMMITTEE REVIEWS ALL REQUESTS FOR FINANCIAL AID. ADDITIONALLY, EACH DONOR (OF A NAMED SCHOLARSHIP ENDOWMENT) RECEIVES A LETTER FROM DEVELOPMENT SAYING WHO RECEIVED THE SCHOLARSHIP. X X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 MARK REED HEAD OF SCHOOL 381600 0 0 0 0 0 73714 0 25309 0 480623 0 0 0 DAVID L MANCOS CHIEF FINANCIAL OFFICER 246808 0 0 0 0 0 17391 0 6309 0 270508 0 0 0 LAUREN BATTEN DIRECTOR OF ADVANCEMENT 178250 0 0 0 0 0 7126 0 48069 0 233445 0 0 0 KEVIN S DALY MS, PE INSTRUCTOR 152816 0 0 0 0 0 7944 0 6266 0 167026 0 0 0 WARREN M SEPKOWITZ HEAD OF MIDDLE SCHOOL 140870 0 0 0 0 0 8446 0 28069 0 177385 0 0 0 MATTHEW T LESS HEAD OF UPPER SCHOOL 130020 0 0 0 0 0 5197 0 68829 0 204046 0 0 0 PART I, LINE 1A THE BOARD APPROVED THAT THE HEAD OF SCHOOL MAY TRAVEL FIRST-CLASS FOR ANY FLIGHTS LONGER THAN THREE HOURS. THE BOARD ALSO APPROVED THAT THE HEAD OF SCHOOL IS ALLOWED A BUDGETED AMOUNT OF DISCRETIONARY EXPENDITURES. IT IS USED TO SUPPORT ANY UNANTICIPATED NEEDS OF THE SCHOOL. AS A CONDITION OF EMPLOYMENT, THE HEAD OF SCHOOL IS REQUIRED TO LIVE IN THE SCHOOL'S HOUSE LOCATED ON THE CAMPUS. THIS RESIDENCE IS PROVIDED FOR THE CONVENIENCE OF THE SCHOOL IN HAVING THE FUNCTIONS OF THE OFFICE OF THE HEAD OF SCHOOL EFFICIENTLY DISCHARGED. THE SCHOOL PROVIDES HOUSEKEEPING SERVICES TO THE HEAD OF SCHOOL FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THE HEAD OF SCHOOL CAN PERFORM ESSENTIAL SCHOOL BUSINESS AND ACTIVITIES AT THE HOME. THIS HOUSING ALLOWANCE IS TREATED AS A NON-TAXABLE BENEFIT. A NC CAPITAL FACILITIES FINANCE 561592154 65818PGN3 2008-06-01 12690000 SCHOOL CONSTRUCTION 0 0 0 A 12690000 159515 12530485 2009 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 0 1 0 0 0 0 A 0 41760 TUITION REMISSION (BASED ON SAME CRITERIA AS OTHER EMPLOYEES) TUITION ASSISTANCE EDISON FOARD INC EDISON P. CASSELS, A CURRENT TRUSTEE, IS PRESIDENT & CEO OF THE COMPANY. 233787 CONSTRUCTION PROJECT COSTS WERE NEGIOTIATED IN THE NORMAL COURSE OF BUSINESS AND AT ARM'S LENGTH. 0 X 10 699518 FMV 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 SCOTT STEVENS AND ART ROSELLE, BOTH TRUSTEES ON THE BOARD, HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE REVIEWS THE IRS FORM 990 WITH THE CHIEF FINANCIAL OFFICER BEFORE THE FORM IS FILED. THE IRS FORM 990 IS THEN PROVIDED TO BOARD MEMBERS PRIOR TO FILING. MEMBERS ARE ENCOURAGED TO REVIEW THE FORM AND DIRECT ANY QUESTIONS TO THE CHAIR OF THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD MAINTAINS A CONFLICT OF INTEREST POLICY WHICH IS REVIEWED AND SIGNED ON AN ANNUAL BASIS. ALL TRUSTEES AND OTHER INTERESTED PERSONS ARE REQUIRED TO READ, COMPLETE AND SIGN THE CONFLICT OF INTEREST POLICY FORM ANNUALLY. IF AN ISSUE IS TO BE DECIDED BY THE BOARD THAT INVOLVES A POTENTIAL CONFLICT OF INTEREST FOR A BOARD MEMBER OR OTHER INTERESTED PERSONS, IT IS THE RESPONSIBILITY OF THE BOARD MEMBER OR OTHER INTERESTED PERSONS TO: (1) IDENTIFY THE POTENTIAL CONFLICT OF INTEREST SO THAT BOARD MEMBERS WHO ARE VOTING ON A DECISION ARE AWARE THAT ANOTHER MEMBERS' INTEREST ARE BEING AFFECTED; (2) NOT PARTICIPATE IN THE DISCUSSION OF THE PROGRAM, ISSUE OR MOTION BEING CONSIDERED; AND (3) BE RECUSED DURING THE VOTE ON THE MOTION. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL HAS A HEAD'S COMPENSATION COMMITTEE. THE COMMITTEE ANNUALLY REVIEWS BENCHMARK COMPENSATION DATA FROM SEVERAL SOURCES SUCH AS NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS) AND INDEPENDENT SCHOOL DATA EXCHANGE (INDEX). THE COMMITTEE ANALYZES DATA FROM THESE AND OTHER ORGANIZATIONS IN ORDER TO MAKE A RECOMMENDATION TO THE BOARD OF TRUSTEES REGARDING THE HEAD'S COMPENSATION. THE BOARD HAS APPROVAL AUTHORITY FOR THE HEAD'S COMPENSATION AND APPROVES THE PACKAGE ANNUALLY. ALL DISCUSSIONS AND DECISIONS ARE DOCUMENTED IN THE MINUTES. THE HEAD OF SCHOOL DETERMINES AND ESTABLISHES SALARIES FOR ALL OTHER TOP MANAGEMENT AND KEY EMPLOYEES. HE USES DATA FROM THESE SAME ORGANIZATIONS (NAIS & JRPO) TO ASSIST IN ESTABLISHING TOP MANAGEMENT AND KEY EMPLOYEE SALARIES. ALL SALARY INCREASES MUST BE WITHIN THE BUDGET AS APPROVED BY THE BOARD OF TRUSTEES, AND THE BOARD MONITORS THE BUDGET TO ENSURE COMPLIANCE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON SWAP AGREEMENT 108,502. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE IS APPOINTED BY THE BOARD OF TRUSTEES TO ASSIST THE BOARD IN FULFILLING ITS FISCAL OVERSIGHT RESPONSIBILITIES. THE PRIMARY DUTIES OF THE COMMITTEE ARE: TO MONITOR THE INTEGRITY OF CHARLOTTE COUNTRY DAY SCHOOL'S FINANCIAL REPORTING PROCESS AND SYSTEMS OF INTERNAL CONTROLS REGARDING FINANCE, ACCOUNTING AND LEGAL COMPLIANCE, TO MONITOR THE PERFORMANCE OF CHARLOTTE COUNTRY DAY SCHOOL'S INDEPENDENT AUDITORS, AND TO PROVIDE AN AVENUE OF COMMUNICATION AMONG THE INDEPENDENT AUDITORS, MANAGEMENT AND THE BOARD OF TRUSTEES.