2014-04-29T15:48:04-05:00 2013-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 125 BAYLIS ROAD MELVILLE NY 117473823 990 2012-07-01 116112414 THE STONY BROOK SCHOOL STON 6317511800 1 CHAPMAN PARKWAY STONY BROOK NY 117901799 SCOTT PAVAO 6317511800 2014-04-28 1 GORDON SIESS CPA PARTNER P00027748 6317527400 2012 2015-11-30 17:44:51Z SCOTT PAVAO 1 CHAPMAN PARKWAY STONY BROOK NY 117901799 21686325 0 X WWW.STONYBROOKSCHOOL.ORG X 1922 NY THE STONY BROOK SCHOOL IS AN INDEPENDENT COLLEGE PREPARATORY SCHOOL (GRADES 7 - 12). 15 15 207 25 17500 16500 2230242 1640649 11337671 11901627 166238 746653 127398 80779 13861549 14369708 2041059 2115162 0 0 5584665 5923906 0 0 602157 5658643 5867349 13284367 13906417 577182 463291 44197482 46380372 5197947 6075797 38999535 40304575 X THE STONY BROOK SCHOOL IS AN INDEPENDENT COLLEGE PREPARATORY SCHOOL (GRADES 7-12) THAT EXISTS TO CHALLENGE YOUNG MEN AND WOMEN TO KNOW JESUS CHRIST AS LORD, TO LOVE OTHERS AS THEMSELVES, AND TO GROW IN KNOWLEDGE AND SKILL, IN ORDER THAT THEY MAY SERVE THE WORLD THROUGH THEIR CHARACTER AND LEADERSHIP. 0 0 11641395 2115162 11418162 EDUCATION OF BOARDING AND DAY STUDENTS IN GRADES 7-12. ENROLLMENT IS APPROXIMATELY 318 STUDENTS. 421460 461227 EDUCATION PROGRAMS INCLUDING TUTORIAL, ACADEMIC CLASSES, SPORTS, MARINE PROGRAMS, AND COMPUTER COURSES FOR STUDENTS DURING SIX WEEKS IN THE SUMMER. 12062855 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 28 0 1 207 1 1 1 0 0 0 0 1 1 0 0 0 1 0 X 15 15 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X SCOTT PAVAO CFO 6319411560 C/O THE STONY BROOK SCHOOL 1 STONY BROOK NY 11790 SIERD TILMA 4.00 0.00 X X 0 0 0 S MICHAEL KOH 4.00 0.00 X X 0 0 0 WALLACE L LARSON ESQ 4.00 0.00 X X 0 0 0 J DOUGLAS KIRK 4.00 0.00 X X 0 0 0 JACK R HALL 4.00 0.00 X X 0 0 0 ELAINE KANAS 4.00 0.00 X X 0 0 0 JOHN H HAILE 2.00 0.00 X 0 0 0 SHARON BOTTOMLEY 2.00 0.00 X 0 0 0 ALAN J CHAPMAN 2.00 0.00 X 0 0 0 NORMAN A KOOP 2.00 0.00 X 0 0 0 STEPHEN E NEWTON 2.00 0.00 X 0 0 0 DIANE BENNETT 2.00 0.00 X 0 0 0 DANIEL C YATES 2.00 0.00 X 0 0 0 STEPHEN DILL 2.00 0.00 X 0 0 0 ETHAN HARRIS 2.00 0.00 X 0 0 0 JOCELYN HATHAWAY HUTZLE 2.00 0.00 X 0 0 0 JOHN A JOHNSON 6.00 0.00 X 0 0 0 WENDELYNE HORST MURPHY 2.00 0.00 X 0 0 0 DAVID A ROBINSON 2.00 0.00 X 0 0 0 SCOTT PAVAO 50.00 0.00 X 80900 0 6135 RICHARD RIESEN 60.00 0.00 X 62500 0 8654 ROBERT GUSTAFSON 40.00 0.00 X 181560 0 0 324960 0 14789 1 1 1 0 RACANELLI CONSTRUCTIONS CO INC 1895 WALT WHITMAN RD 1 MELVILLE NY 11747 BUILDING CONSTRUCTION 4598979 SAGE DINING SERVICES INC 222 BOSLEY AVENUE SUITE B-7 TOWSON MD 21204 FOOD SERVICE MANAGEMENT 978149 AS A WHISTLE CLEANING SERVICE PO BOX 536 EAST SETAUKET NY 11733 CUSTODIAL SERVICES 470061 SUBURBAN SECURITY AGENCY INC PO BOX 1409 SMITHTOWN NY 11787 SECURITY SERVICES 239572 STAFFORD ASSOCIATES 21 BENNETTS ROAD SUITE 200 SETAUKET NY 11733 NETWORK & COMPUTER SERVICES 132265 6 26637 1614012 509317 1640649 TUITION 611710 10832894 10832894 STUDENT FEES 611710 607505 607505 SUMMER PROGRAMS 611710 461228 461228 11901627 274335 274335 7722809 7250491 472318 472318 17500 454818 10756 26637 10756 0 33133 55370 -22237 -22237 MISCELLANEOUS 900099 103016 103016 103016 14369708 11879390 17500 832169 2115162 2115162 221589 221589 3365471 2832383 280184 252904 198469 165015 18692 14762 1872510 1555341 162753 154416 265867 213506 33491 18870 26184 26184 53000 53000 59447 59447 699105 543630 112689 42786 21633 16827 4306 500 352556 208568 106389 37599 172901 124139 34553 14209 547622 516739 17371 13512 163022 132721 22042 8259 23376 22166 90 1120 21656 20171 1485 222447 210349 6788 5310 TAX AND LICENSES 26690 7465 19225 FOOD SERVICE 1004022 1004022 SECURITY AND CUSTODIAL 623660 596318 13542 13800 HEALTH CENTER 477636 477636 1372392 1300697 47585 24110 13906417 12062855 1241405 602157 677708 1191973 2920913 295812 4718703 1538303 147621 931908 74245 67734 290411 172651 26812280 21171110 26812280 12852829 14162452 1174127 1115440 169815 91819 44197482 46380372 639755 1175848 4279149 4643960 38907 5762 240136 250227 5197947 6075797 X 20393813 24708540 5520835 2282360 13084887 13313675 38999535 40304575 44197482 46380372 463291 841749 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13660819 228788 1492269 316443 169757 14895676 14692800 152384 -612865 342422 229078 13660819 12704557 155481 2242762 234600 175400 14692800 11430114 390995 1287448 256100 147900 12704557 14370621 236426 -2997233 113900 65800 11430114 0.00040 0.98820 0.01140 0 0 508612 508612 14004429 14004429 4440787 4440787 7858452 7858452 26812280 AGENCY FUNDS 85210 CHARITABLE GIFT ANNUITIES 165017 250227 X 13092218 841749 55370 897119 12195099 59447 2115162 2174609 14369708 11787178 55370 55370 11731808 59447 2115162 2174609 13906417 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: UTILIZED TO FUND VARIOUS PROGRAM ACTIVITIES WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE SCHOOL AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE SCHOOL HAS TAKEN AN UNCERTAIN POSITION THAT MORE-LIKELY-THAN-NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE SCHOOL, AND HAS CONCLUDED THAT AS OF JUNE 30, 2013, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE SCHOOL IS SUBJECT TO ROUTINE AUDITS BY THE TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 55,370. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 2,115,162. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 55,370. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 2,115,162. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE ADMISSIONS OFFICE PUBLISHES THE NON-DISCRIMINATORY POLICY AT LEAST ANNUALLY IN SEVERAL LOCAL NEWPAPERS SERVING SUFFOLK COUNTY AND LONG ISLAND. THE POLICY IS ALSO INCLUDED IN THE SCHOOL VIEWBOOK WHICH IS THE PRIMARY ADMISSIONS PUBLICATION. MAIN EVENT 16190 10709 5481 3425 2056 JOHNSTON JUBLIEE 21202 15928 5274 5274 37392 26637 10755 3425 7330 10755 0 1 FINANCIAL AID 139 2115162 PARENT FINANCIAL STATEMENT ASSESSED BY SCHOOL & STUDENT SRVCS DEPT OF NAIS. NEED BASED FINANCIAL AID. GRANTS ARE IN THE FORM OF NON-CASH SCHOLARSHIPS OR FINANCIAL AID USED SOLELY TO REDUCE TUITION. X 1 1 X X X X 1 0 0 0 0 0 0 0 0 ROBERT GUSTAFSON 90778 0 0 0 90782 0 0 0 0 0 181560 0 0 0 PART I, LINE 1A THE SCHOOL IS A BOARDING-DAY SCHOOL THAT OPERATES 24/7 AND AS SUCH REQUIRES THE HEADMASTER AND ALL FACULTY AND KEY ADMINISTRATORS TO LIVE ON CAMPUS IN SCHOOL OWNED HOUSING AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE INSTITUTION IN CARRYING OUT ITS MISSION AND PURPOSE. PART I, LINE 3 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES IS RESPONSIBLE TO CONDUCT PERFORMANCE REVIEW OF THE HEADMASTER (CEO) AND DISCUSS THE TERMS OF THE ANNUAL EMPLOYMENT CONTRACT HE/SHE WILL RECEIVE. GUIDANCE IS PROVIDED FOR SETTING COMPENSATION FROM EDUCATIONAL SALARY INFORMATION OBTAINED FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS FOR SCHOOLS OF COMPARABLE SIZE AND HEADS WITH COMPARABLE EXPERIENCE. THE PRESIDENT OF THE BOARD THEN NEGOTIATES THE CONTRACT WITH THE HEADMASTER AND INFORMS THE EXECUTIVE COMMITTEE WHEN IT IS FINALIZED. THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED ANNUALLY BY THE HEADMASTER OF THE SCHOOL BASED ON EMPLOYEE PERFORMANCE REVIEWS AND SALARY RANGES FOR ADMINISTRATIVE POSITIONS OBTAINED FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS. PART I, LINE 4A ROBERT GUSTAFSON - $90,782 MARTHA PAVAO FAMILY MEMBER OF OFFICER 41347 FULL TIME TEACHER FOR THE SCHOOL 0 X 1 125000 AVG. FMV AT GIFT DATE X 18 384317 AVG. FMV AT GIFT DATE 0 0 0 1 THIRD PARTY USE: PART I, LINE 32B: THE ORGANIZATION USES BROKERS TO SELL STOCKS GIFTED TO THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 3 THE MANAGEMENT OF THE FOOD SERVICE OPERATION AT THE SCHOOL IS CONTRACTED OUT TO SAGE DINING SERVICES, INC. THE MANAGEMENT OF THE CUSTODIAL SERVICE AT THE SCHOOL IS CONTRACTED OUT TO AS A WHISTLE CLEANING SERVICE. FORM 990, PART VI, SECTION B, LINE 11 AN ADHOC COMMITTEE COMPRISED OF MEMBERS OF THE EXECUTIVE AND FINANCE/AUDIT COMMITTEES OF THE BOARD OF TRUSTEES MEETS WITH THE PARTNER OF THE AUDITING FIRM TO REVIEW THE COMPLETED FORM 990 AND APPROVE THE FORM FOR FILING ON BEHALF OF THE BOARD. BOARD OF TRUSTEE MEMBERS WILL RECEIVE COPIES OF THE FORM 990 THAT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE CONFLICT OF INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE TRUSTEES AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD-DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE POTENTIAL CONFLICT OF INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD OF TRUSTEES OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. THE BOARD OF TRUSTEES OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED TRUSTEES WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE SCHOOL'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION, IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES IS RESPONSIBLE TO CONDUCT PERFORMANCE REVIEW OF THE HEADMASTER (CEO) AND DISCUSS THE TERMS OF THE ANNUAL EMPLOYMENT CONTRACT HE/SHE WILL RECEIVE. GUIDANCE IS PROVIDED FOR SETTING COMPENSATION FROM EDUCATIONAL SALARY INFORMATION OBTAINED FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS FOR SCHOOLS OF COMPARABLE SIZE AND HEADS WITH COMPARABLE EXPERIENCE. THE PRESIDENT OF THE BOARD THEN NEGOTIATES THE CONTRACT WITH THE HEADMASTER AND INFORMS THE EXECUTIVE COMMITTEE WHEN IT IS FINALIZED. 15B - THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED ANNUALLY BY THE HEADMASTER OF THE SCHOOL BASED ON EMPLOYEE PERFORMANCE REVIEWS AND SALARY RANGES FOR ADMINISTRATIVE POSITIONS OBTAINED FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT PUBLISHED. THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO ALL BOARD MEMBERS AND IS INCLUDED IN THE GENERAL EMPLOYEE HANDBOOK. IF A PERSON WANTED TO SEE DOCUMENTS, POLICY, AND/OR FINANCIAL STATEMENTS, THEY WOULD BE MADE AVAILABLE FOR REVIEW IN THE BUSINESS OFFICE OF THE SCHOOL. GENERAL NOTE: INVESTMENT SUB-COMMITTEE MANAGEMENT OF THE ENDOWMENT PORTFOLIO IS DISTRIBUTED BETWEEN THREE MANAGERS AND FIVE MUTUAL OR EXCHANGE TRADED FUNDS. SINCE 1999, A FORMAL INVESTMENT SUB-COMMITTEE ESTABLISHED AT THE BOARD LEVEL HAS OVERSEEN THE MANAGERS AND CHOSEN THE FUNDS. THE MAJORITY OF THE MEMBERS OF THE SUB-COMMITTEE ARE ALL PROFESSIONALS IN THE INVESTMENT BUSINESS. A FORMAL ENDOWMENT INVESTMENT POLICY TO GUIDE THE BOARD IN IT'S FIDUCIARY RESPONSIBILITIES WAS ENACTED IN 2000 AND REVISED SEVERAL TIMES TO ADAPT TO CHANGING MARKET CONDITIONS, MOST RECENTLY IN MARCH OF 2010. THE ENDOWMENT INVESTMENT POLICY ALSO AUTHORIZES AN ANNUAL DRAW OF BETWEEN 4% AND 5% OF THE AVERAGE ENDOWMENT MARKET VALUE OF PERMANENT CORPUS OVER A ROLLING PERIOD OF 12 QUARTERS (3 YEARS). THE INVESTMENTS IN THE CHARITABLE GIFT ANNUITY FUND ARE LIKEWISE INVESTED IN SEVERAL MUTUAL FUNDS / ETF AND ARE GUIDED BY AN CHARITABLE GIFT ANNUITY FUND INVESTMENT POLICY SEEKING TO MEET ALL LEGAL RESERVE REQUIREMENTS AS WELL AS PROVIDE FUNDING FOR ANNUITY OBLIGATIONS. THE CHARITABLE GIFT ANNUITY FUND POLICY WAS ESTABLISHED IN 2005 AND UPDATED IN 2007.