2015-02-16T13:22:21-06:00 2014-06-30 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2013-07-01 020223317 Brewster Academy BREW 6035697103 80 Academy Drive Wolfeboro NH 03894 Roy Ballentine Treasurer 6035697103 2015-02-10 1 Barbara J McGuan CPA P00219457 2077752387 2015-02-09 2013 2016-02-25 16:41:14Z Michael Cooper 80 Academy Drive Wolfeboro NH 03894 25082726 0 X www.brewsteracademy.org X 1887 NH To provide education to residential and day students. 22 22 320 115 142398 0 1717054 2625786 20072851 20660142 -1228784 381513 341056 299979 20902177 23967420 3642823 3858689 0 0 9821263 9999165 29719 19718 746327 8131603 8290649 21625408 22168221 -723231 1799199 57578979 60934136 26782809 26095603 30796170 34838533 An independent college preparatory school which provides students with the academic, personal, and social skills necessary for success in a university or college, and for life. 0 0 17614970 3858689 19433582 Brewster Academy is a private high school that enrolls both boarding and day students. In addition to a broad educational curriculum, the school provides an extensive athletic program. The Brewster program is designed to meet students at their current level of perfermance and accelerate them in their mastery of skills and knowledge, ensuring that graduates are prepared for the challenges of college and careers and the skills needed for success in the 21st century. 517561 1084162 The Summer Program features educational programs and conferences during the summer recess, including the Brewster Academy Summer Session and Royal Thai Scholars. 18132531 1 1 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 0 1 0 1 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 45 0 1 320 1 1 1 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH X Brewster Business Office 6035697103 80 Academy Drive Wolfeboro NH 03894 Arthur O Ricci Trustee 2.00 X 0 0 0 Arthur W Coviello Jr Vice Chair 3.00 X X 0 0 0 Barbara Naramore Trustee 2.00 X 0 0 0 C Richard Carlson Trustee 2.00 X 0 0 0 Candace Crawshaw Trustee 2.00 X 0 0 0 Daniel T Mudge Chair 3.00 X X 0 0 0 David L Carlson Trustee 3.00 X 0 0 0 Douglas H Greeff Secretary 3.00 X X 0 0 0 George J Dohrmann III Trustee 2.00 X 0 0 0 Karen W Fix Trustee 2.00 X 0 0 0 Leslie N H MacLeod Past Trustee 2.00 X 0 0 0 Michael Keys Trustee 2.00 X 0 0 0 Rev Nancy Spencer Smith Trustee 2.00 X 0 0 0 Roy Ballentine Treasurer 3.00 X X 0 0 0 Steven R Webster Trustee 2.00 X 0 0 0 Ronn Bronzetti Trustee 2.00 X 0 0 0 Gabrielle Gatta Trustee 2.00 X 0 0 0 David Hadley Trustee 2.00 X 0 0 0 William Depietri Trustee 2.00 X 0 0 0 Carlos Noble Trustee 2.00 X 0 0 0 Amy Reiner Trustee 2.00 X 0 0 0 P Fred Gridley Trustee Emeritus 2.00 X 0 0 0 Beverly Bruce Trustee 2.00 X 0 0 0 Lisa Braiterman CFO 50.00 X 127540 0 53243 Michael Cooper Head of School 60.00 X 439233 0 40534 Lynn Palmer Director of Admissions 50.00 X 119286 0 11893 Kristy Kerin Director of Advancement 50.00 X 129413 0 25748 815472 0 131418 4 0 1 0 Milestone Engineering & Construction In PO Box 2279 Concord NH 033022279 Dining Hall Construction 920305 US Foods Inc PO Box 3155 Boston MA 022413155 Dining-Food Service 400978 Adaptive Communications 230 Commerce Way Suite 100 Portsmouth NH 03801 Technology-Equipment and Installation 309032 Donald A Madore Contruction 31 Muddy Pond Road Kensington NH 03833 Building Improvements 170450 Scott Simons Architects 75 York Street Portland ME 04101 Construction In Progress - Anderson 125354 7 2625786 293355 2625786 Tuition and Fees 611710 17265265 17265265 Instructional Support 611710 1652279 1652279 Summer Programs 611710 1215375 1084162 131213 Student Related 611710 472380 472380 Miscellaneous Revenue 611710 54843 43658 11185 20660142 252950 252950 1220734 3660 1095831 0 124903 3660 128563 128563 135956 19475 116481 116481 Distribution from beneficial trus 900099 183498 183498 183498 23967420 20517744 142398 681492 80000 80000 3778689 3778689 660549 660549 7284486 6126359 703499 454628 418825 329063 62810 26952 1078569 818576 212467 47526 556736 442319 81774 32643 223632 223632 71007 71007 19718 19718 10437 10437 302545 119262 174917 8366 1196003 1196003 221488 114986 35723 70779 808727 731901 76826 1560258 1530438 29820 405654 405654 Student Related 731619 731619 Plant Expense 704118 704118 Contracted Services 690917 462276 191114 37527 Dining Hall 508712 508712 855532 458210 349134 48188 22168221 18132531 3289363 746327 2643 1571 9436872 9029490 988807 1479271 222023 186682 56701 67756 81425 120874 49651353 18577969 30109433 31073384 8593490 9777071 8087585 9198037 57578979 60934136 824915 1120417 6455157 6759103 17888565 17555459 109738 77448 1013951 25658 490483 557518 26782809 26095603 X 12663318 14167472 3774537 5255781 14358315 15415280 30796170 34838533 57578979 60934136 X 1799199 1115465 1127699 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 9588035 157739 1477339 374282 10848831 9195469 137174 609994 354602 9588035 7973329 26728 57145 378030 7679172 7222254 30666 1133905 413496 7973329 6658608 84590 634703 155647 7222254 0.00000 0.71340 0.28660 0 0 2215836 2215836 35694991 13578102 22116889 4237395 2557041 1680354 7503131 2442826 5060305 31073384 Bond Issuance Costs 227381 Deferred Compensation Plans 194331 Beneficial Interest in Perpetual Trust 7619299 Charitable Gift Annuity 1148551 Accrued Investment Interest Receivable 8475 9198037 Charitable Gift Annuity 363187 Deferred Compensation Payable 194331 557518 22451370 1115465 1147174 2262639 20188731 3778689 3778689 23967420 18409007 19475 19475 18389532 3778689 3778689 22168221 Part IV, Line 2b: The Organization has custodial fund accounts held for students. Funds are deposited in a debit account and are held on the student's behalf. Part V, Line 4: The Academy's endowment consists of funds established for a variety of purposes, including scholarships and operations. Its endowment includes donor-restricted endowment funds. The FY 2013 financial statements have been restated to properly reflect a change in classification of several permanently restricted net assets and the related accumulated appreciation, net of spending. The restatement resulted in an increase in the FY 2012 permanently restricted net assets and an increase related to the net appreciation in those funds to the FY 2012 temporarily restricted net assets. Due to this restatement, a Correct of Error adjustment of $1,516,297 has been made to the Prior Year Endowment Fund beginning of year balance. Part XI, Line 2d - Other Adjustments: Change in Value of Beneficial Interest in Perpetual Trust 934,226. Fundraising Expenses 19,475. Change in Pledge Discounting and Allowance for Pledges 74,500. Change in Value of Charitable Gift Annuity 118,973. Part XI, Line 4b - Other Adjustments: Finanical Aid Grants 3,778,689. Part XII, Line 2d - Other Adjustments: Fundraising Expenses 19,475. Part XII, Line 4b - Other Adjustments: Financial Aid Grants 3,778,689. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Through newspaper, television, and radio advertising, and in school literature. Schedule E, Part I, Line 6 The Academy participates in the Federal School Lunch Program and the Federal E-RATE program providing support for technology and libraries. East Asia and the Pacific - 0 0 Fundraising and Parent/Alumni relations 14597 0 0 0 0 0 0 14597 0 14597 0 0 0 0 0 0 Schedule F, Part I, Line 3 Brewster Academ currently has 52 students from Asia. As a result of the trip for fundraising and parent/alumni relations, Brewster Academy received $173,155 worth of contributions from sources in Asia. X X X X X X X 1 Washburn & McGoldrick 950 New Loudon Road Latham NY 12110 Capital campaign planning 0 0 19718 -19718 19718 -19718 Family Weekend Auction 135956 135956 19475 135956 135956 19475 19475 116481 1 Yale University PO Box 208239 New Haven CT 06520 060646973 501(c)(3) 80000 Cash The grant was provided to fund research on the effectiveness of Yale University's Ruler Program for instruction and emotional literacy. 1 0 Financial Aid 118 3778689 FMV Brewster Academy provides financial aid to students based on need Part I, Line 2: Grants and Other Assistance to Organizations - A grant was paid to Yale Univeristy, a 501(c)(3) organization, which has monitoring procedures in place. Grants and Other Assistance to Individuals - The Academy provides scholarships to students in need as a reduction in tuition. No funds are transferred to the recipients. Schedule I, Part III, Line F Brewster Academy provides financial aid to students based on need. The amount of financial aid given and the names and addresses of the recipients are on file in the business office. X X X 1 1 X X X 0 1 0 0 0 0 0 1 0 Lisa Braiterman CFO 125527 0 0 0 2013 0 23000 0 30243 0 180783 0 0 0 Michael Cooper Head of School 245672 0 188969 0 4592 0 23000 0 17534 0 479767 0 0 0 Kristy Kerin Director of Advancement 128852 0 0 0 561 0 4080 0 21668 0 155161 0 0 0 Part I, Line 1a Housing was provided to Head of School, Director of Admissions, Director of Advancement and Chief Financial Officer in the amount of $14,200, $14,200, $28,400 and $21,300 respectively. Part I, Line 4b Michael Cooper, Head of School, contributed $17,500 to his 457B account. Brewster Academy contributed $35,834 to his 457F account. Part I, Line 7 Michael Cooper, Head of School, received a bonus during the year based on meeting fundraising targets, strategic planning, leadership development, as well as other goals established in his contract which were met during the year. A New Hampshire Health and Education Facilities Authority 020279866 2011-02-04 18000000 Capital Improvements 0 0 0 A 444541 18000000 859617 256607 16439235 2011 1 0 0 1 A 0 0 0 0 0 0 0 A 0 0 1 0 0 0 0 0 0 A 0 True Brick Ovens True Brick Ovens is owned by David Neufeld, husband of Lisa Braiterman, CFO 76600 Lisa Braiterman's husband is the sole owner of True Brick Ovens which the Organization contracted to construct a wood-fired brick oven. 0 X 6 293355 FMV Auction items 0 0 Donor estimated valu 0 0 0 Part I, Line 33: For various auctioned items, the Organization does not record revenue when items are donated, but rather when the items are sold at the auction event. The donor estimated value of auctioned items was $52,089. Form 990, Part VI, Section B, line 11 The Audit Committee reviews, approves and recommends acceptance of the Form 990 by the Finance Committee. After the review and recommendation to accept the Form 990 by the Audit Committee, the Finance Committee reviews and recommends acceptance of the completed Form 990 to the Board, along with the Audit Committee. Then it is sent to all other board members and the Head of School for their review and approval. Form 990, Part VI, Section B, line 12c The Conflict of Interest Policy must be signed individually by members of the Board of Trustees. There is an annual review of these conflict of interest statements. Form 990, Part VI, Section B, line 15 The Board of Trustees retained an employment consultant to determine the salary for the Head of School. Form 990, Part VI, Section C, line 19 The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part XI, line 9: Change in Value of Charitable Gift Annuity 118,973. Change in Value of Beneficial Interest in Perpetual Trust 934,226. Change in Pledge Discounting and Allowance for Pledges 74,500.