2015-11-09T13:54:13-06:00 2015-06-30 050353162 PICCERELLI GILSTEIN & CO LLP 144 WESTMINSTER STREET PROVIDENCE RI 029032282 990 2014-07-01 042104242 FRIENDS ACADEMY INC FRIE 5089991356 1088 TUCKER ROAD NORTH DARTMOUTH MA 027473122 KATHRYN GOODFELLOW PRESIDENT OF THE BOARD 5089991356 2015-11-02 1 WILLIAM J PICCERELLI P00008456 4018310200 2014 2016-04-25 22:37:26Z KATHRYN GOODFELLOW 1088 TUCKER ROAD DARTMOUTH MA 02747 7654723 0 X WWW.FRIENDSACADEMY1810.ORG X 1810 MA FRIENDS ACADEMY IS A CO-EDUCATIONAL, INDEPENDENT DAY SCHOOL SERVING STUDENTS IN PRESCHOOL THROUGH GRADE EIGHT. THE MISSION OF FRIENDS ACADEMY IS TO PROVIDE EACH STUDENT WITH AN EDUCATIONAL FOUNDATION THAT WILL INSTILL THE ACADEMIC KNOWLEDGE AND SKILLS, RESPONSIBLE CITIZENSHIP, RESPECT FOR DIVERSITY AND DIFFERENCES, AND A SENSE OF WELL-BEING NEEDED FOR A LIFETIME OF LEARNING AND PERSONAL GROWTH. 23 23 105 10 0 0 469215 934249 6325218 6577624 23779 39979 103142 63571 6921354 7615423 1577600 1658421 0 0 4111032 4433238 0 0 242224 1629243 1692871 7317875 7784530 -396521 -169107 10333647 10200050 1992583 1967062 8341064 8232988 X THE MISSION OF FRIENDS ACADEMY IS TO PROVIDE EACH STUDENT WITH AN EDUCATIONAL FOUNDATION THAT WILL INSTILL THE ACADEMIC KNOWLEDGE AND SKILLS, RESPONSIBLE CITIZENSHIP, RESPECT FOR DIVERSITY AND DIFFERENCES, AND A SENSE OF WELL BEING NEEDED FOR A LIFETIME OF LEARNING AND PERSONAL GROWTH. 0 0 6085262 1658421 6611346 PROVIDE EDUCATION TO TWO HUNDRED SEVENTY ONE STUDENTS ATTENDING EARLY CHILDHOOD THROUGH EIGHTH GRADE. 6085262 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 28 0 105 1 0 0 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X KATHERINE FURTADO 5089991356 1088 TUCKER ROAD NO DARTMOUTH MA 027473122 GENE LONERGAN TRUSTEE 1.00 X 0 0 0 GEORGE CHARETTE HONORARY TRUSTEE 1.00 X 0 0 0 GERTRUDE BURR HONORARY TRUSTEE 1.00 X 0 0 0 ANNA BULLARD TRUSTEE 1.00 X 0 0 0 MARTHA SHUSTER TRUSTEE 1.00 X 0 0 0 KATHRYN GOODFELLOW TREASURER 1.00 X X 0 0 0 RALPH TAVERES JR VICE PRESIDENT 1.00 X X 0 0 0 YVONNE DRAYTON HONORARY TRUSTEE 1.00 X 0 0 0 CALVIN SIEGAL HONORARY TRUSTEE 1.00 X 0 0 0 ANN BOXLER SECRETARY 1.00 X X 0 0 0 JOANELLA CANNELL TRUSTEE 1.00 X 0 0 0 SANDRA HEWITT TRUSTEE 1.00 X 0 0 0 FREDERIC MOCK PRESIDENT 1.00 X X 0 0 0 GEORGE FEARONS TRUSTEE 1.00 X 0 0 0 DOREEN PATYS TRUSTEE 1.00 X 0 0 0 HENRY ARRUDA TRUSTEE 1.00 X 0 0 0 LAWRENCE HUNT TRUSTEE 1.00 X 0 0 0 CHRISTINE WARING TRUSTEE 1.00 X 0 0 0 ROBERT MACGREGOR TRUSTEE 1.00 X 0 0 0 TIMOTHY HOWES TRUSTEE 1.00 X 0 0 0 GIG LANG TRUSTEE 1.00 X 0 0 0 MATTHEW MORRISSEY TRUSTEE 1.00 X 0 0 0 STEPHEN BARKER HEADMASTER 40.00 X 227028 0 28460 227028 0 28460 1 0 1 0 0 1516 932733 3500 934249 TUITION 611600 6309167 6309167 STUDENT SUPPORT SERVIC 611600 268457 268457 6577624 40603 40603 5600 0 5600 5600 5600 7395 8019 -624 -624 -624 60506 1516 31281 29225 29225 MISCELLANEOUS INCOME 611600 28746 28746 28746 7615423 6611346 0 69828 1658421 1658421 232488 174366 58122 3539998 2469888 927825 142285 159887 110497 43320 6070 234436 147395 86378 663 266429 183277 72726 10426 31271 31271 64838 36852 27986 1150 1150 148201 65575 82626 15076 2485 12591 210995 200623 10372 34779 34779 401040 380988 20052 72965 61965 11000 CEI 308928 308928 CURRICULUM ENRICHMENT 62928 62928 ANNUAL APPEAL 57369 57369 INSTRUCTIONAL AIDS 49226 49226 234105 170698 37996 25411 7784530 6085262 1457044 242224 1343138 1431445 46152 27176 74940 52218 135283 130223 10583844 4484111 6265965 6099733 2428456 2421559 39713 37696 10333647 10200050 288051 358537 780164 721821 919587 882029 4781 4675 1992583 1967062 X 6535275 6121161 907036 1211424 898753 900403 8341064 8232988 10333647 10200050 X -169107 60431 600 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2428456 753350 97776 858025 2421557 2416395 394710 394367 777016 2428456 2730972 150385 288793 753755 2416395 4049221 889978 16822 2225049 2730972 2929524 1288905 332545 501753 4049221 0.33790 0.37180 0.29030 0 0 182207 182207 9324664 3742132 5582532 1076973 741979 334994 6099733 MULTI STRATEGY BOND FUND 697811 F EQUITY FUND 1233536 F ACCESS EQUITY - UNREALIZED APPRECIA 490212 F 2421559 DEPOSITS HELD IN CUSTODY FOR OTHERS 4675 4675 X 7701560 60431 28606 89037 7612523 2900 2900 7615423 7809636 28606 28606 7781030 3500 3500 7784530 PART V, LINE 4: ENDOWMENT FUNDS INTENDED PURPOSES ARE: LIBRARY, FINANCIAL AID, MISCELLANEOUS SUPPORT OF SCHOOL ACTIVITIES, PLAYGROUND, AND GARDEN. PART X, LINE 2: THE ORGANIZATION INTERNALLY MONITORS ITS TAX POSITIONS TO DETERMINE WHETHER ANY ARE UNCERTAIN. A TAX POSITION IS TAKEN IF IT IS DETERMINED THAT THE POSITION WILL "MORE-LIKELY-THAN-NOT" BE SUSTAINED UPON EXAMINATION BY A TAXING AUTHORITY. THE SCHOOL'S MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE SCHOOL, AND HAS CONCLUDED THAT AS OF JUNE 30, 2015, THERE WERE NO UNCERTAIN POSITIONS TAKEN, OR EXPECTED TO BE TAKEN, THAT WOULD REQUIRE THE RECOGNITION OF A LIABILITY OR ASSET OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE SCHOOL IS NOT CURRENTLY SUBJECT TO AUDITS FOR ANY TAX PERIODS. THE SCHOOL'S MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR THE YEARS PRIOR TO 2009. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SPECIAL EVENTS 28,606. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DONATED SECURITIES -624. ADDITIONAL CASH CONTRIBUTIONS OF SPECIAL EVENT 24. NON CASH PRIZES FROM SPECIAL EVENT 3,500. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SPECIAL EVENTS 28,606. PART XII, LINE 4B - OTHER ADJUSTMENTS: NON CASH PRIZES FROM SPECIAL EVENT 3,500. 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 IN LOCAL NEWSPAPER AND DIRECT MAILING CATALOG. SPRING SWING 41809 41809 3500 19857 500 1859 FRIENDS FEST 20213 1516 18697 431 953 3126 1055 62022 1516 60506 3500 20288 953 3626 2914 31281 29225 1 FINANCIAL AID 105 1370955 FINANCIAL AID ALLOWED TOWARD THE STUDENT'S TUITION TUITION REMISSION 12 287466 TUITION REMISSION REDUCING AMOUNT OF THE STUDENT'S TUITION PART I, LINE 2: FAMILIES APPLY FOR FINANCIAL AID BY COMPLETING A PARENTS FINANCIAL STATEMENT (PFS) WHICH IS SUBMITTED TO THE SCHOOL SCHOLARSHIP SERVICE (SSS) ADMINISTERED BY THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS. THE FORM REQUIRES DISCLOSURE OF FAMILY FINANCIAL INFORMATION LISTING INCOME, ASSETS AND DEBT. THE SCHOOL HAS A FINANCIAL AID COMMITTEE THAT INCLUDES THE HEADMASTER, CHIEF FINANCIAL OFFICER, DIRECTOR OF ADMISSIONS, AND THE ACADEMIC DIVISION HEADS. THESE ADMINISTRATORS REVIEW THE PFS AND MAKE AN AWARD BASED UPON THE FINANCIAL INFORMATION AVAILABLE AND IN THE CASE OF NEWLY ADMITTED STUDENTS, THE RECOMMENDATION OF THE DIRECTOR OF ADMISSIONS. TUITION REMISSION WAS ELIMINATED AS A FRINGE BENEFIT BY THE BOARD OF TRUSTEES IN SCHOOL YEAR 2007-2008. TUITION REMISSION IS PROVIDED FOR SOME FACULTY CHILDREN WHO WERE RECEIVING THE FUNDS UNDER A PREVIOUS POLICY. FACULTY ARE ELIGIBLE TO APPLY FOR FINANCIAL AID BY COMPLETING THE APPLICATION PROCESS AS STATED ABOVE. 1 X X X X X X 0 0 0 0 0 0 0 0 0 STEPHEN BARKER HEADMASTER 227028 0 0 0 0 0 0 0 28460 0 255488 0 115568 0 FORM 990, PART VI, SECTION B, LINE 11 THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS WILL REVIEW THE 990 AND DISCUSS IT WITH THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C ALL MEMBERS OF THE BOARD OF TRUSTEES, ADMINISTRATION AND FACULTY OF FRIENDS ACADEMY MUST SIGN A COPY OF THE CONFLICT OF INTEREST POLICY EVERY YEAR TO CONFIRM THAT NO CONFLICTS EXIST. THE HEADMASTER'S SECRETARY COLLECTS THESE DOCUMENTS. FORM 990, PART VI, SECTION B, LINE 15 THE FINANCE COMMITTEE MAKES RECOMMENDATIONS TO THE FULL BOARD REGARDING COMPENSATION FOR ALL EMPLOYEES, WITH THE EXCEPTION OF THE HEADMASTER. THE HEADMASTER'S COMPENSATION IS THE RESPONSIBILITY OF THE HEAD'S COMPENSATION/CONTRACT COMMITTEE. THE CURRENT MEMBERS OF THIS COMMITTEE ARE THE FORMER PRESIDENT, CURRENT PRESIDENT AND TREASURER OF THE BOARD. THEY ARE ADVISED BY THE SCHOOL'S LEGAL COUNSEL, VENABLE, LLP. THE FINANCE COMMITTEE DISCUSSES RAISES FOR THE FACULTY AND STAFF. THE HEADMASTER HAS SOME FLEXIBILITY IN DETERMINING RAISES. HE MAKES THE FINAL DECISION ABOUT EMPLOYEE COMPENSATION USING GUIDELINES FROM THE BOARD AND FINANCE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF THE BY- LAWS AND THE ANNUAL FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FROM THE HEADMASTER. FORM 990, PART XI, LINE 9: LOSS ON DONATED SECURITIES 624. ADDITIONAL CASH CONTRIBUTION FOR SPECIAL EVENT -24. FORM 990 PART VI SECTION C Q# 19 A COPY OF THE FORM 990 WILL BE AVAILABLE IN THE BUSINESS OFFICE FOR ANY BOARD MEMBERS OR INTERESTED PARTIES WHO WOULD LIKE TO REVIEW THE DOCUMENT.