2014-05-09T08:59:09-05:00 2013-06-30 420714325 MCGLADREY LLP 80 CITY SQUARE BOSTON MA 021293742 990 2012-07-01 042103574 THE FESSENDEN SCHOOL FESS 6179645350 250 WALTHAM STREET WEST NEWTON MA 02465 MCGLADREY LLP 6179645350 2014-05-08 1 LYNNE JOHNSON P00757336 6179129000 2012 2015-11-30 17:44:51Z DAVID STETTLER 250 WALTHAM STREET WEST NEWTON MA 02465 30501894 0 X WWW.FESSENDEN.ORG X 1930 MA THE FESSENDEN SCHOOL IS THE OLDEST ALL BOYS, JUNIOR BOARDING SCHOOL IN THE COUNTRY. 24 24 342 50 195816 194816 4332377 3134058 18504182 19559352 1086159 1125676 358373 397009 24281091 24216095 1814557 2033730 0 0 12939386 13628046 0 0 940556 6881725 7128769 21635668 22790545 2645423 1425550 70173279 79226153 24947418 27727170 45225861 51498983 X THE MISSION OF THE FESSENDEN SCHOOL IS TO TEACH, NURTURE, AND CELEBRATE GROWING BOYS, CULTIVATING EACH STUDENT'S INDIVIDUAL POTENTIAL AND DEVELOPING IN BALANCE HIS MIND, CHARACTER, HEART AND BODY IN AN INCLUSIVE AND JOYFUL COMMUNITY THAT, THROUGH RIGOR, FRIENDSHIP AND SERVICE, REFLECTS FESSENDEN'S TRADITIONAL VALUES OF HONESTY, COMPASSION AND RESPECT. 0 0 15351835 2033730 17749003 THE FESSENDEN SCHOOL IS AN INDEPENDENT BOYS ELEMENTARY SCHOOL FOR BOTH RESIDENT AND DAY STUDENTS WITH GRADES KINDERGARTEN THROUGH NINTH. THE PROGRAM HAS APPROX. 475 STUDENTS OF BOTH DOMESTIC AND INTERNATIONAL ORIGIN. ACADEMIC, ART AND ATHLETIC PROGRAMS ALL PLAY AN INTEGRAL PART OF EACH STUDENT'S EDUCATIONAL AND PERSONAL GROWTH. 855689 799995 THE FESSENDEN SCHOOL SUMMER DAY CAMP PROGRAM PROVIDES 300+ CHILDREN WITH A DIVERSIFIED, SAFE AND REWARDING EDUCATIONAL EXPERIENCE. THE PROGRAM OPERATES FROM JULY THROUGH AUGUST AND IS LOCATED ON THE SCHOOL'S 42 ACRE CAMPUS, AND UTILIZES THE SPACIOUS GROUNDS, 2 SWIMMING POOLS, CLASSROOM BUILDINGS, TENNIS COURTS AND ATHLETIC CENTER. 454306 213911 THE FESSENDEN SCHOOL SUMMER ESL PROGRAM OFFERS CHALLENGING ACADEMIC INSTRUCTION IN ENGLISH, ALONG WITH TRAVEL, RECREATION AND CULTURAL EXCHANGE. THE PROGRAM IS FIVE WEEKS LONG AND HOSTS 50 BOYS AND GIRLS BETWEEN THE AGES OF 10-15. 557651 537171 FESSENDEN AUXILIARY PROGRAM - DAYCARE 333484 311459 FESSENDEN AUXILIARY PROGRAM - OTHER 256909 230397 FESSENDEN SUMMER SPORTS CAMPS 1148044 1079027 17809874 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 1 0 0 0 0 0 0 0 0 1 48 0 1 342 1 1 1 0 0 0 0 1 1 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X MICHAEL DYLINGOWSKI 6176302357 250 WALTHAM STREET WEST NEWTON MA 02465 DENISE M DUPRE 1.00 X X 0 0 0 IAN K LORING 1.00 X X 0 0 0 JENNIFER L STIER 1.00 X X 0 0 0 ROBERT M DICKEY 1.00 X X 0 0 0 DONALD G BRAMLEY 1.00 X 0 0 0 STEPAHNIE M BUCCI 1.00 X 0 0 0 RENEE E CURTIN 1.00 X 0 0 0 BRUCE C DAYTON 1.00 X 0 0 0 STEPHEN C DEMIRJIAN 1.00 X 0 0 0 JOHN M DOGGETT JR 1.00 X 0 0 0 JENNIFER MUGAR FLAHERTY 1.00 X 0 0 0 KEITH B GELB 1.00 X 0 0 0 PAMELA E LOMAX 1.00 X 0 0 0 MICHAEL R MACH 1.00 X 0 0 0 ELIZABETH H MUNRO 1.00 X 0 0 0 MICHAEL P MURRAY 1.00 X 0 0 0 VG NARAYANAN 1.00 X 0 0 0 JAMES M NEISSA 1.00 X 0 0 0 CHRISTIAN NOLEN 1.00 X 0 0 0 STEVEN M PECK 1.00 X 0 0 0 THOMAS S ROBERTS 1.00 X 0 0 0 STEPHANIE L ROGERS 1.00 X 0 0 0 PETER C WELCH 1.00 X 0 0 0 R HALSEY WISE 1.00 X 0 0 0 DAVID STETTLER 60.00 X 263392 0 55076 DAVID TAYLOR 60.00 X 169234 0 65630 SCOTT SMITH 55.00 X 138785 0 21526 WENDY PEARRE 55.00 X 110523 0 64183 CINDY METSCH 55.00 X 109012 0 52587 KENNETH HOWE 60.00 X 113020 0 61722 CALEB THOMSON 55.00 X 107285 0 36409 1011251 0 357133 7 0 1 0 ZVI CONSTRUCTION CO LLC 131 DUMMER STREET BROOKLINE MA 02446 CONSTRUCTION 1113721 PROSPECT BUILDING SERVICES 360 PEARL STREET MALDEN MA 02148 CLEANING 226716 FRANK I ROUNDS COMPANY 65 YORK AVE RANDOLPH MA 02368 ENGINEERS 134033 3 7150 3126908 362455 3134058 TUITION AND FEES 611600 17749003 17749003 SUMMER DAY CAMP 611710 799995 799995 AUXILIARY - DAY CARE 611710 537171 537171 SUMMER ESL PROGRAM 611710 213911 213911 AUXILIARY - OTHER 611710 170166 170166 89106 89106 19559352 816941 37388 779553 712900 476060 236840 236840 158428 78412 6025174 5716439 308735 308735 308735 14180 7150 19101 -4921 -4921 96230 74199 22031 22031 MISCELLANEOUS INCOME 900099 88487 88487 PARENT ASSOCIATION 611710 54572 54572 143059 24216095 19559352 195816 1326869 2033730 2033730 480943 480943 10474466 8353374 1574286 546806 811238 592784 179859 38595 1068857 933525 74411 60921 792542 615185 137746 39611 117689 113918 3771 137349 137349 49936 49936 71226 71226 83215 53540 27141 2534 79310 1491 35074 42745 879827 549179 255912 74736 130996 47819 75123 8054 1186956 1067333 102256 17367 111413 45188 49781 16444 143321 91948 50111 1262 4788 4788 2031192 1868900 138730 23562 120849 120849 SUPPLIES, MAINTENANCE, 709298 654156 47136 8006 FOOD 422987 392116 26389 4482 STUDENT ACTIVITIES 315934 315934 SPECIAL EVENTS AND FUNC 217364 43723 121981 51660 315119 149949 165170 22790545 17809874 4040115 940556 10357442 13189796 263869 265854 1716260 1191592 415829 392655 124279 137146 173679 204668 45348376 22999081 21991270 22349295 24425886 30118655 9635766 10693513 1068999 682979 70173279 79226153 1850698 2041638 5723994 9715891 14660000 14248446 40224 43297 2672502 1677898 24947418 27727170 X 30893510 36241303 4530738 5356364 9801613 9901316 45225861 51498983 70173279 79226153 X 1425550 3853748 993824 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 36997518 1738590 4855078 1417269 42173917 35964391 2720765 -326663 1360975 36997518 29625797 2891980 5027068 1240814 339640 35964391 27090328 1424476 2341989 1230996 29625797 26822823 3426842 -2047013 962324 150000 27090328 0.65000 0.23500 0.11500 0 0 159808 159808 39497023 18831226 20665797 5069935 3673613 1396322 621610 494242 127368 22349295 LIMITED PARTNERSHIPS 10407555 F ANNUITY CONTRACTS 285958 F 10693513 CHARITABLE GIFT ANNUITY 1046 INTEREST RATE SWAP AGREEMENT 1676852 1677898 X 27599297 3853748 -1039906 2813842 24785455 -569360 -569360 24216095 21326175 569360 569360 20756815 2033730 2033730 22790545 PART IV, LINE 2B: ALL BOARDING STUDENTS HAVE A SMALL CASH BALANCE OF $300 TO $1,000 FOR SPENDING MONEY ON THE WEEKENDS AND FOR TRAVEL MONEY WHEN THEY RETURN HOME FOR BREAKS. THE FUNDS ARE KEPT IN A SEPARATE BANK ACCOUNT, AND STUDENTS DRAW FROM IT ON A WEEKLY BASIS BY SUBMITTING CASH REQUEST. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT FUND ENSURES THAT CURRENT AND FUTURE GENERATIONS OF FESSENDEN STUDENTS HAVE ACCESS TO THE BEST FACULTY, COMMUNITY, CURRICULUM, AND FACILITIES. SPECIFICALLY, THE ENDOWMENT SUPPORTS: SALARY ENHANCEMENT, FINANCIAL AID, PROFESSIONAL DEVELOPMENT, PLANT MAINTENANCE, AND INSTRUCTIONAL AND PROGRAM MATERIALS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE SCHOOL IS QUALIFIED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES EXCEPT FOR NET REVENUE FROM UNRELATED BUSINESS ACTIVITIES. THE SCHOOL IS SUBJECT TO FEDERAL AND STATE INCOME TAXES ON UNRELATED BUSINESS INCOME. THE SCHOOL RECOGNIZES A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES. MANAGEMENT EVALUATED THE SCHOOL'S TAX POSITIONS AND CONCLUDED THAT THE SCHOOL HAD NO MATERIAL UNCERTAINTIES IN INCOME TAXES AS OF JUNE 30, 2013. THE SCHOOL WILL ACCOUNT FOR INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, AS PART OF TAX EXPENSE. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL AUTHORITIES FOR FISCAL YEARS BEFORE 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS ON INTEREST RATE SWAP 993,824. FINANCIAL AID REPORTED IN FORM 990, PART IX, LINE 2 -2,033,730. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD EXPENSE REPORTED IN FORM 990, PART VIII, LINE 10B -74,199. RENTAL EXPENSES REPORTED IN FORM 990, PART VIII, LINE 6B -476,060. FUNDRAISING EVENTS DIRECT EXPENSES REPORTED ON FORM 990, PART VIII, LINE 8B -19,101. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED IN FORM 990, PART VIII, LINE 6B 476,060. COST OF GOODS SOLD EXPENSE REPORTED IN FORM 990, PART VIII, LINE 10B 74,199. FUNDRAISING EVENTS DIRECT EXPENSES REPORTED ON FORM 990, PART VIII, LINE 8B 19,101. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED IN FORM 990, PART IX, LINE 2 2,033,730. 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 RACIALLY NONDISCRIMINATORY POLICY IS INCLUDED IN ALL COMMUNICATIONS TO THE COMMUNITY. CASINO NIGHT / DINNER 21330 7150 14180 19101 21330 7150 14180 19101 19101 -4921 1 FINANCIAL AID FOR TUITION AND FEES 49 1441402 FMV FINANCIAL ASSISTANCE CREDITS TO THE STUDENTS' ACCOUNTS TUITION REMISSION 24 592328 FMV FINANCIAL ASSISTANCE CREDITS TO THE STUDENTS' ACCOUNTS PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE FESSENDEN SCHOOL UTILIZES THE SERVICES OF THE SCHOOL AND STUDENT SERVICE (SSS) BY THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS). BASED UPON A WRITTEN APPLICATION, SSS ASSESSES A FAMILY'S RESOURCES TO DETERMINE HOW MUCH THAT FAMILY CAN AFFORD FOR EDUCATION. USING THIS REPORT, OTHER AVAILABLE INFORMATION AND THE SCHOOL'S OWN POLICIES, THE FESSENDEN FINANCIAL AID COMMITTEE DETERMINES AN APPROPRIATE GRANT BASED UPON THE STUDENT'S NEED, THE SCHOOL'S PRIORITIES AND FINANCIAL AID RESOURCES. RECORDS ARE MAINTAINED AND REVIEWED AS EACH STUDENT MUST RE-APPLY EACH YEAR TO QUALIFY AND RECEIVE ASSISTANCE. X 1 1 X X X 1 0 0 0 0 0 0 0 0 DAVID STETTLER 263392 0 0 0 0 0 12874 0 42202 0 318468 0 0 0 DAVID TAYLOR 169234 0 0 0 0 0 17816 0 47814 0 234864 0 0 0 SCOTT SMITH 138785 0 0 0 0 0 14084 0 7442 0 160311 0 0 0 WENDY PEARRE 60523 0 0 0 50000 0 56242 0 7941 0 174706 0 0 0 CINDY METSCH 109012 0 0 0 0 0 11418 0 41169 0 161599 0 0 0 KENNETH HOWE 113020 0 0 0 0 0 12220 0 49502 0 174742 0 0 0 PART I, LINE 1A QUALIFIED CAMPUS LODGING IS LOCATED ON THE CAMPUS OF THE EDUCATIONAL INSTITUTION AND IS FURNISHED TO AN EMPLOYEE, THE EMPLOYEE'S SPOUSE, OR ANY DEPENDENTS, BY OR ON BEHALF OF, THE INSTITUTION FOR USE AS A RESIDENCE AND IS EXCLUDED FROM GROSS INCOME IF IT QUALIFIES UNDER CODE SECTION 119. HOUSING FOR DAVID STETTLER, DAVID TAYLOR, CINDY METSCH, KENNETH HOWE, AND CALEB THOMSON QUALIFIES UNDER CODE SECTION 119. THIS NONTAXABLE BENEFIT IS REPORTED IN PART II, COLUMN (D) FOR THESE INDIVIDUALS. PART I, LINE 4A WENDY PEARRE, DIRECTOR OF LOWER SCHOOL, RECEIVED A SEVERANCE PAYMENT OF $100,000 FOR THE FISCAL YEAR 2013. $50,000 IS CURRENTLY REPORTED IN PART II, COLUMN (B)(III). THE REMAINDER $50,000 WAS PAID IN THE CALENDAR YEAR 2013. X 8 362455 FAIR MARKET VALUE 0 1 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTIONS: PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS IS BASED ON THE NUMBER OF GIFTS (PER STOCK TYPE). FORM 990, PART VI, SECTION B, LINE 11 THE BOARD OF TRUSTEES RECEIVES AN ELECTRONIC COPY OF THE FORM 990, 990-T AND ANY OTHER RELATED AND REQUIRED FILINGS, AS FILED, BEFORE THE FILING DEADLINE. BEFORE FILING, MEMBERS OF MANAGEMENT REVIEW THE RETURNS FOR ACCURACY AND COMPLETENESS. AT A LATER DATE AFTER THE FILING OF THE RETURNS, THE SCHOOL'S AUDIT COMMITTEE ALONG WITH MEMBERS OF SCHOOL'S MANAGEMENT REVIEW THE RETURNS ALONG WITH THE RESULTS OF THE AUDIT. THE RESULTS OF THE YEAR-END AUDIT, REVIEW OF THE FORM 990, AND ANY FINDINGS, CHANGES OR AREAS OF CONCERN ARE COMMUNICATED TO THE BOARD AT THE FIRST BOARD MEETING OF THE FISCAL YEAR SO APPROPRIATE CORRECTIVE ACTION, IF ANY, CAN BE TAKEN. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED ANNUALLY TO THE BOARD OF TRUSTEES AT THE FIRST MEETING AND TO EMPLOYEES VIA THE EMPLOYEE HANDBOOK EACH YEAR. THE BOARD OF TRUSTEE MEMBERS ARE ASKED TO SIGN A DISCLOSURE STATEMENT INDICATING YES OR NO TO ANY CONFLICTS. RESULTS ARE REVIEWED IN ACCORDANCE WITH THE POLICY. EMPLOYEES ARE ASKED TO SIGN A FORM INDICATING RECEIPT OF THE EMPLOYEE HANDBOOK AND THE ENCLOSED CONFLICT OF INTEREST POLICY. RESULTS ARE REVIEWED IN ACCORDANCE WITH THE POLICY. RETURNED FORMS ARE ACCOUNTED FOR, AND ANY MISSING FORMS ARE PURSUED WITH THE BEST REASONABLE EFFORTS TO COLLECT THEM. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION ISSUES CONTRACTS CONTAINING THE DETAILS OF THE COMPENSATION PACKAGE FOR ALL NEW OFFICERS, TOP MANAGEMENT AND KEY EMPLOYEES. THE INITIAL PROCESS FOR HIRING OFFICERS, TOP MANAGEMENT AND KEY EMPLOYEES USUALLY INVOLVES AN INDEPENDENT SEARCH COMMITTEE AND CONSULTANTS WHO IDENTIFY CANDIDATES BASED UPON THE REQUIRED SKILLS, EXPERIENCE, ETC... SET FORTH BY THE ORGANIZATION. THE POOL OF CANDIDATES WILL THEN BE INTERVIEWED BY A COMMITTEE OF BOARD MEMBERS AND OTHER TOP MANAGEMENT. DURING THIS PROCESS, THE CONSULTANTS, BOARD AND TOP MANAGEMENT ALSO DETERMINE THE COMPENSATION BASED UPON THE LEVEL OF POSITION, EXPERIENCE OF CANDIDATE, THE MARKETPLACE, DEMOGRAPHICS AND COMPARING DATA WITH SIMILAR ORGANIZATIONS AND POSITIONS. THE YEARS FOLLOWING THE HIRE OF AN OFFICER, TOP MANAGEMENT OR KEY EMPLOYEE INVOLVE A REVIEW PROCESS THAT INLCLUDES AN EVALUATION. UNLESS THERE ARE SIGNIFICANT CHANGES TO THE ORIGINAL DUTIES ASSIGNED FOR THE POSITION OR OTHER FACTORS THAT MAY WARRANT A CHANGE IN COMPENSATION, INCREASES ARE IN THE RANGE VOTED BY THE BOARD FOR ALL EMPLOYEES OF THE ORGANIZATION. THE PROCESS OF DETERMINING COMPENSATION FOR THE HEADMASTER (CEO) IS MORE IN DEPTH. IN APRIL, DURING THE THIRD BOARD MEETING OF THE FISCAL YEAR, A HEADMASTER EVALUATION SURVEY IS DISTRIBUTED TO THE BOARD OF TRUSTEES. ALL TRUSTEES COMPLETE THE SURVEY QUESTIONS. THE PRESIDENT OF THE BOARD RECEIVES THE RESULTS AND FORMS A SUB-COMMITTE OF THE BOARD MADE UP OF INDIVIDUALS OF THE BOARD, WHO REVIEW THE RESULTS. DISCUSSIONS TAKE PLACE ABOUT THE RESULTS, EXPECTATIONS, NEW GOALS, ETC... AND ARE THEN DISCUSSED WITH THE HEADMASTER. THE COMPENSATION IS THEN ESTABLISHED AND SET FOR THE NEXT FISCAL YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. ALL DOCUMENTS ARE AVAILABLE TO BE VIEWED ON-SITE AS WELL. IN ADDITION, THE FORM 990 IS AVAILABLE VIA GUIDESTAR AND THE MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON INTEREST RATE SWAP AGREEMENT 993,824.