2015-05-14T08:59:54-05:00 2014-06-30 221478099 COHNREZNICK LLP 350 CHURCH STREET 12TH FLOOR HARTFORD CT 06103 990 2013-07-01 060647018 THE HOTCHKISS SCHOOL HOTC 8604352591 11 INTERLAKEN LAKEVILLE CT 060390800 JOHN P TUKE CFO 8604352591 2015-05-08 1 JOHN TOSCANO P00358542 9592007000 2013 2016-02-25 16:41:14Z JOHN P TUKE 11 INTERLAKEN LAKEVILLE CT 060390800 138153384 0 X WWW.HOTCHKISS.ORG X 1891 CT THE SCHOOL STRIVES TO DEVELOP IN STUDENTS A LIFELONG LOVE OF LEARNING, RESPONSIBLE CITIZENSHIP AND PERSONAL INTEGRITY. 23 22 484 37 966535 0 25721179 14631402 28045125 29764015 18190327 37217392 1648374 1957045 73605005 83569854 8682911 8445400 0 0 27179751 27960906 0 0 3790094 24353510 25026069 60216172 61432375 13388833 22137479 579112592 634485440 76341193 79799594 502771399 554685846 THE HOTCHKISS SCHOOL STRIVES TO DEVELOP IN STUDENTS A LIFELONG LOVE OF LEARNING, RESPONSIBLE CITIZENSHIP, AND PERSONAL INTEGRITY. WE ARE A COMMUNITY BASED ON TRUST, MUTUAL RESPECT, AND COMPASSION, AND WE HOLD ALL MEMBERS OF THE COMMUNITY ACCOUNTABLE FOR UPHOLDING THESE VALUES. 0 0 47210013 8445400 30739339 THE SCHOOL IS COMMITTED TO MASTERY OF LEARNING SKILLS, DEVELOPMENT OF INTELLECTUAL CURIOSITY, EXCELLENCE AND CREATIVITY IN ALL DISCIPLINES, AND ENTHUSIASTIC PARTICIPATION IN ATHLETICS AND OTHER SCHOOL ACTIVITIES. WE ENCOURAGE OUR STUDENTS TO DEVELOP CLARITY OF THOUGHT, CONFIDENCE AND FACILITY IN EXPRESSING IDEAS, AND ARTISTIC AND AESTHETIC SENSITIVITY. WE EXPECT ALL MEMBERS OF THE COMMUNITY, IN AND OUT OF THE CLASSROOM, TO SUBJECT THEIR VIEWS AND ACTIONS TO CRITICAL EXAMINATION AND TO ACCEPT RESPONSIBILITY FOR THEM. WE HOPE THAT OUR GRADUATES WILL LEAVE HOTCHKISS WITH A COMMITMENT TO SERVICE TO OTHERS AND TO ENVIRONMENTAL STEWARDSHIP, AND WITH A GREATER UNDERSTANDING OF THEMSELVES AND OF THEIR RESPONSIBILITIES IN A GLOBAL SOCIETY. THE ENROLLMENT FOR THE TAX YEAR WAS APPROXIMATELY 599 STUDENTS. 47210013 1 1 0 0 0 0 1 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 X 279 0 1 484 1 1 1 1 UK CJ BD 0 0 0 0 0 0 0 0 X 23 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CT NY X SHARON L ZAMPKO CONTROLLER 8604353166 11 INTERLAKEN ROAD LAKEVILLE CT 060390800 THOMAS C BARRY TRUSTEE 3.00 X 0 0 0 JOHN COUMANTAROS TRUSTEE 3.00 X 0 0 0 IAN R DESAI TRUSTEE 3.00 X 0 0 0 THOMAS J EDELMAN TRUSTEE 3.00 X 0 0 0 WILLIAM R ELFERS VICE PRESIDENT 3.00 X X 0 0 0 JOHN E ELLIS III MD TRUSTEE 3.00 X 0 0 0 DIANA GOMEZ TRUSTEE 3.00 X 0 0 0 SEAN M GORMAN SECRETARY 3.00 X X 0 0 0 EDWARD GREENBERG PRESIDENT ALUMNI ASSOCIATION 3.00 X 0 0 0 JOHN GRUBE TRUSTEE 3.00 X 0 0 0 FIROOZEH KASHANI-SABET TRUSTEE 3.00 X 0 0 0 CHRISTOPHER H MELEDANDRI VICE PRESIDENT 3.00 X X 0 0 0 KENDRA S O'DONNELL TRUSTEE 3.00 X 0 0 0 THOMAS S QUINN III TRUSTEE 3.00 X 0 0 0 JEAN WEINBERG ROSE PRESIDENT 3.00 X X 0 0 0 ROGER K SMITH TRUSTEE 3.00 X 0 0 0 JANE SOMMERS-KELLY TRUSTEE 3.00 X 0 0 0 MARJO TALBOTT TRUSTEE 3.00 X 0 0 0 JOHN L THORNTON OFFICER AT LARGE 3.00 X X 0 0 0 WILLIAM B TYREE TREASURER 3.00 X X 0 0 0 DANIEL JWILNER TRUSTEE 3.00 X 0 0 0 STEPHANIE BOWLING ZEIGLER PRESIDENT OF HOTCHKISS FUND 3.00 X 0 0 0 MALCOLM H MCKENZIE HEAD OF SCHOOL THRU 6/30/13 50.00 X X 157300 0 74061 KEVIN HICKS HEAD OF SCHOOL EFF 7/1/2013 50.00 X X 269716 0 78136 LAWRENCE FLINN JR TRUSTEE 3.00 X 0 0 0 ELIZABETH GARDNER HINES TRUSTEE 3.00 X 0 0 0 ELEANOR GREEN LONG TRUSTEE 3.00 X 0 0 0 FORREST E MARS JR TRUSTEE 3.00 X 0 0 0 JOHN P TUKE CHIEF FINANCIAL OFFICER 50.00 X 265241 0 48475 JOSEPH P FLYNN CHIEF ADVANCEMENT OFFICER 50.00 X 217093 0 116574 JARED ZELMAN PHYSICIAN 50.00 X 170331 0 30982 JOHN C VIRDEN III DEAN OF STUDENTS 50.00 X 174261 0 32171 JON P OSTENDORF DIRECTOR OF IT 50.00 X 163542 0 108560 JANE R WEIGEL DIRECTOR OF ADMISSIONS 50.00 X 157438 0 50276 1574922 0 539235 25 0 1 0 SODEXO P O BOX 360170 PITTSBURGH PA 15251 FOOD SERVICES 2668416 CAMBRIDGE ASSOCIATES LLC PO BOX 83232 CHICAGO IL 60691 INVESTMENT ADVISORY 829668 STATE STREET GLOBAL ADVISORS PO BOX 5488 BOSTON MA 022058260 INVESTMENT ADVISORY 428579 GREENLEAF ENERGY SOLUTIONS LLC 51 SHERMAN HILL RD STE A203 WOODBURY CT 06798 CONTRACTOR - LED LIGHTING UPGRADE 354024 ADAPTIVE 230 COMMERCE WAY STE 100 PORTSMOUTH NH 03801 CONTRACTOR - IT INFRASTRUCTURE UPGRADE 298870 27 14631402 3251738 14631402 TUITION AND FEES 611110 29764015 29764015 29764015 3451662 273995 3177667 87010021 584914 53829205 0 33180816 584914 33765730 584914 33180816 709593 754325 -44732 -44732 STUDENT FEES AND OTHER 900099 1657000 975324 681676 CHILD CARE INCOME 611710 237151 237151 GOLF COURSE INCOME 713910 107626 107626 2001777 83569854 30739339 966535 37232578 8445400 8445400 850155 50837 655137 144181 19891696 15946626 1918504 2026566 2038594 1634285 196617 207692 3736511 2431297 996234 308980 1443950 1157575 139265 147110 232531 232531 69007 69007 1971984 1971984 1730008 1133794 404696 191518 79585 76092 3493 3504199 2986698 169796 347705 683855 683855 4127092 4126793 93 206 614108 293413 169824 150871 42229 42229 1255367 1255367 6262143 4978518 1283625 599891 599891 UBIT PAID 40000 40000 INSTRUCTIONAL EXPENSES 1715368 1715368 STUDENT ACTIVITIES & SE 861930 861930 MISCELLANEOUS 470039 202359 225817 41863 766733 445173 140387 181173 61432375 47210013 10432268 3790094 96169 95755 6020733 8152057 14872861 14438392 278370 438167 290395 192471 474016 447810 901818 1284647 232965400 79104137 154306916 153861263 59452829 76488772 331799828 366950457 10618657 12135649 579112592 634485440 2579062 3543745 5557608 6541945 34744002 34758537 311405 33460521 34643962 76341193 79799594 X 286738074 310678735 95228013 124026964 120805312 119980147 502771399 554685846 579112592 634485440 X 22137479 30048249 -271281 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 1 260.00 1 0 1 391252657 8096456 65253657 5921881 13269337 1972323 443439229 357924170 13189757 44808453 5580043 17410385 1679295 391252657 377478176 11819594 -653583 5861525 23417805 1440687 357924170 328573994 11507329 61798572 4972386 17667321 1762012 377478176 320900125 7765529 26563271 4202108 21048325 1404498 328573994 0.51100 0.26200 0.22700 0 0 3011287 3011287 194909736 58289147 136620589 29219730 19918428 9301302 5824647 896562 4928085 153861263 INVESTMENTS IN LIMITED PARTNERSHIPS 366950457 F 366950457 INTEREST RATE SWAP 8092227 POST RETIREMENT HEALTH BENEFITS 22099106 DEPOSITS - PREPAID STUDENT EXPENSES 2408213 OTHER 2044416 34643962 X 103915044 30048249 754325 30802574 73112470 2011984 8445400 10457384 83569854 52000597 1025606 1025606 50974991 2011984 8445400 10457384 61432375 PART II, LINE 5: THE EASEMENT IS PART OF A PARCEL OF LAND PURCHASED BY THE SCHOOL IN 2004. IT HAD BEEN CREATED IN THE 1980'S BY THE OWNER OF THE LAND AT THAT POINT IN TIME AND THE LOSS OF ECONOMIC VALUE OF THE EASEMENT HAD BEEN REFLECTED IN THE APPRAISED VALUE OF THE PARCEL. THIS APPRAISAL SERVED AS THE BASIS OF THE PURCHASE PRICE. THE LAND IS REPORTED ON THE SCHOOL'S STATEMENT OF FINANCIAL POSITION AT PURCHASED COST. PART V, LINE 4: INCOME FROM ENDOWMENT FUNDS IS DRAWN IN ACCORDANCE WITH THE SCHOOL'S SPENDING POLICY AND USED IN ACCORDANCE WITH DONOR-IMPOSED STIPULATIONS OR, IN THE ABSENCE THEREOF, TO SUPPORT THE SCHOOL'S GENERAL OPERATING EXPENSES, INCLUDING SALARIES, FINANCIAL AID AND FACILITIES MAINTENANCE. PART X, LINE 2: THE SCHOOL ACCOUNTS FOR UNCERTAIN INCOME TAX PROVISIONS INCLUDED IN ACCOUNTING STANDARDS CODIFICATION ("ASC") 740. ASC 740 PRESCRIBES DETAILED GUIDANCE FOR FINANCIAL STATEMENT RECOGNITION, MEASUREMENT AND DISCLOSURE OF UNCERTAIN TAX POSITIONS RECOGNIZED IN AN ENTERPRISE'S FINANCIAL STATEMENTS. TAX POSITIONS MUST MEET A MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD TO BE RECOGNIZED. THERE ARE NO UNCERTAIN INCOME TAX POSITIONS AT JUNE 30, 2013 AND 2014. THE SCHOOL'S FEDERAL AND STATE INCOME TAX RETURNS PRIOR TO FISCAL 2011 ARE NO LONGER SUBJECT TO AUDIT. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 754,325. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE 8,445,400. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 754,325. CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT 192,203. CHANGE IN VALUE OF POST RETIREMENT BENEFIT OBLIGATION 1,059,219. CHANGE IN VALUE OF CRUTS -980,141. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE 8,445,400. 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 PUBLICIZES THE POLICY ALONG WITH OTHER AREA SCHOOLS IN THE LOCAL NEWSPAPER. CENTRAL AMERICA AND THE CARIBBEAN - 0 0 INVESTMENTS 67490502 EUROPE 0 0 INVESTMENTS 10768089 0 0 0 0 0 0 78258591 0 78258591 1 0 1 1 1 0 SCHEDULE F, PART I, LINE 3 (D) INVESTMENTS INCLUDED IN THIS SECTION RELATE TO INVESTMENT HOLDINGS INCLUDED IN THE SCHOOL'S ENDOWMENT PORTFOLIO. 1 SCHOLARSHIPS 208 8309058 FAIR VALUE FINANCIAL ASSISTANCE SUMMER SCHOOL SCHOLARSHIPS 52 136342 FAIR VALUE FINANCIAL ASSISTANCE PART I, LINE 2: THE HOTCHKISS SCHOOL HAS DEDICATED AN INDIVIDUAL IN THE ADMISSIONS OFFICE TO WORK SOLELY WITH FINANCIAL AID. FINANCIAL AID AWARDS ARE ALSO TRACKED ON AN INDIVIDUAL BASIS IN THE BUSINESS OFFICE FOR BILLING PURPOSES. X X X 1 1 X X X X 0 1 0 0 0 0 0 0 1 0 MALCOLM H MCKENZIE HEAD OF SCHOOL THRU 6/30/13 157300 0 0 0 0 0 33180 0 40881 0 231361 0 0 0 KEVIN HICKS HEAD OF SCHOOL EFF 7/1/2013 269716 0 0 0 0 0 25453 0 52683 0 347852 0 0 0 JOHN P TUKE CHIEF FINANCIAL OFFICER 265241 0 0 0 0 0 26422 0 22053 0 313716 0 0 0 JOSEPH P FLYNN CHIEF ADVANCEMENT OFFICER 217093 0 0 0 0 0 25971 0 90603 0 333667 0 0 0 JARED ZELMAN PHYSICIAN 170331 0 0 0 0 0 17685 0 13297 0 201313 0 0 0 JOHN C VIRDEN III DEAN OF STUDENTS 174261 0 0 0 0 0 19097 0 13074 0 206432 0 0 0 JON P OSTENDORF DIRECTOR OF IT 163542 0 0 0 0 0 25301 0 83259 0 272102 0 0 0 JANE R WEIGEL DIRECTOR OF ADMISSIONS 157438 0 0 0 0 0 15732 0 34544 0 207714 0 0 0 PART I, LINE 1A FOR THE BENEFIT AND CONVENIENCE OF THE SCHOOL AND AS A CONDITION OF THEIR EMPLOYMENT, CERTAIN EMPLOYEES ARE PROVIDED WITH ON-CAMPUS RESIDENCES AT THE SCHOOL'S EXPENSE. FOR THE CONVENIENCE OF THE SCHOOL, THESE RESIDENCES ARE READILY AVAILABLE AND USED FOR SCHOOL-RELATED ORDINARY AND NECESSARY BUSINESS FUNCTIONS ON A REGULAR AND CONTINUING BASIS. NONTAXABLE BENEFITS ALSO INCLUDE CERTAIN TUITION REMISSION AMOUNTS, IN ACCORDANCE WITH INTERNAL REVENUE CODE SECTION 117(D). AS STIPULATED IN THE OUTGOING HEAD OF SCHOOL'S EMPLOYMENT CONTRACT, CERTAIN TRAVEL AND ADVISORY EXPENSES ARE BORNE BY THE SCHOOL AND APPROPRIATELY REPORTED AS TAXABLE COMPENSATION TO THE INDIVIDUAL. PART I, LINE 4B THE SCHOOL MAINTAINS A SUPPLEMENTAL NON-QUALIFIED SECTION 457(F) PLAN FOR THE CURRENT HEAD OF SCHOOL. NO CONTRIBUTIONS HAVE BEEN MADE TO THE PLAN BY THE SCHOOL DURING THE 2013 CALENDAR YEAR. PART I, LINE 8 THE CONTRACT WITH THE NEW HEAD OF SCHOOL HAS BEEN ENTERED INTO BY BOTH PARTIES TO MEET THE INITIAL CONTRACT EXCEPTION AS DESCRIBED IN REGS. SECTION 53.4958-4(A)(3). JUDITH CROUCH SPOUSE OF THE INDIVIDUAL WHO SERVED AS HEAD OF SCHOOL THRU 6/30/13 18000 COMPENSATION PAID IN CONNECTION WITH ADMINISTRATIVE SUPPORT FOR FUNDRAISING ACTIVITIES. 0 MINDFUL WARRIOR OWNER OF THIS COMPANY IS THE SPOUSE OF THE CURRENT HEAD OF SCHOOL. 65000 THE COMPANY PROVIDED STUDENT LEADERSHIP DEVELOPMENT PROGRAMS TO THE SCHOOL 0 CORNELIA HOLDEN SPOUSE OF THE CURRENT HEAD OF SCHOOL 35000 COMPENSATION PAID IN CONNECTION WITH ADMINISTRATIVE SUPPORT FOR FUNDRAISING ACTIVITIES AND OTHER SCHOOL EVENTS. 0 X 44 3251738 FAIR VALUE 0 1 1 PART I, LINE 32B: THE SCHOOL MAINTAINS AN ACCOUNT WITH A FINANCIAL INSTITUTION THROUGH WHICH GIFTS OF APPRECIATED SECURITIES ARE RECEIVED AND LIQUIDATED. FORM 990, PART VI, SECTION B, LINE 11 AUTHORITY TO APPROVE THE 990 IS DELEGATED TO THE AUDIT COMMITTEE BY THE BOARD. THE AUDIT COMMITTEE REVIEWS IN DETAIL WITH SCHOOL MANAGEMENT AND ITS AUDITORS. COPIES OF THE 990 ARE THEN MADE AVAILABLE TO ALL TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CFO COLLECTS AND REVIEWS ALL COMPLETED FORMS, AND THEN PASSES THEM ON TO THE PRESIDENT AND SECRETARY OF THE BOARD AND TO THE HEAD OF SCHOOL. FORM 990, PART VI, SECTION B, LINE 15 THE HEAD OF SCHOOL AND PERIODICALLY THE BOARD'S COMMITTEE FOR ORGANIZATIONAL REVIEW AND NOMINATING REVIEW MARKET DATA FROM COMPARABLE INSTITUTIONS FOR THE TOP 20 OR SO PAID EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST AT ITS ADMINISTRATIVE OFFICES IN LAKEVILLE, CT. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SWAP AGREEMENT -192,203. CHANGE IN VALUE OF POST RETIREMENT BENEFIT OBLIGATION -1,059,219. PROVISION FOR UNCOLLECTIBLE PLEDGES CHANGE IN VALUE OF CRUTS 980,141. FORM 990, PART XII, LINE 2C: THE SCHOOL DID NOT CHANGE ITS OVERSIGHT OR SELECTION PROCESSES DURING THE TAX YEAR..