2014-11-11T08:18:11-06:00 2014-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 1000 CHARLOTTE NC 28204 990 2013-07-01 560623935 CHARLOTTE COUNTRY DAY SCHOOL CHAR 7049434551 1440 CARMEL ROAD CHARLOTTE NC 282265096 DAVID L MANCOS CHIEF FINANCIAL OFFICER 7049434551 2014-11-06 1 JANICE A RATICA P00358837 7043771678 2013 2015-11-30 17:44:51Z MARK REED 1440 CARMEL ROAD CHARLOTTE NC 28226 71703358 0 X WWW.CHARLOTTECOUNTRYDAY.ORG X 1941 NC CHARLOTTE COUNTRY DAY SCHOOL PROVIDES COMPREHENSIVE EDUCATIONAL PROGRAMS FOR GRADES PRE-KINDERGARTEN THROUGH GRADE 12 ON A NON-DISCRIMINATORY BASIS. 25 25 617 600 -25029 -25029 3699045 3494855 35159810 36016624 3166635 6784641 466575 592270 42492065 46888390 3725773 3859701 0 0 23986348 24548347 0 0 1792715 11262081 11427004 38974202 39835052 3517863 7053338 117911371 123178838 32118699 30182028 85792672 92996810 X THROUGH EXCELLENCE IN EDUCATION, THE SCHOOL DEVELOPS THE POTENTIAL OF EACH STUDENT BY FOSTERING INTELLECTUAL CURIOSITY, PRINCIPLED CHARACTER, ETHICAL LEADERSHIP AND A RESPONSIBILITY TO SERVE. THE KEY VALUES AND COMMITMENTS ARE EDUCATIONAL EXCELLENCE, CHARACTER, COMMUNITY, AND SERVICE. 0 0 26436160 3859701 32879330 INSTRUCTIONAL - FUNDS WERE USED TO PROVIDE COMPREHENSIVE EDUCATIONAL PROGRAMS TO APPROXIMATELY 1,600 STUDENTS IN GRADES PRE-KINDERGARTEN THROUGH GRADE 12. 1478729 1839133 SPECIAL PROGRAM FEES - FUNDS WERE USED TO PROVIDE SPECIAL PROGRAMS, SUCH AS EXTENDED DAY CARE, ATHLETIC CAMPS AND CLINICS AND EDUCATIONAL RESOURCES TO STUDENTS IN GRADES PRE-KINDERGARTEN TO 12. 1156915 1438885 AUXILIARY SERVICES - FUNDS WERE USED TO PROVIDE FOOD, CAMPUS STORE, AND TRANSPORTATION TO STUDENTS IN GRADES PRE-KINDERGARTEN TO 12. 29071804 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 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 45 2 1 617 1 0 0 0 0 0 1 1 0 0 0 0 X 25 25 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X DAVID L MANCOS 7049434551 1440 CARMEL ROAD CHARLOTTE NC 282265096 EDISON P CASSELS TRUSTEE 3.00 X 0 0 0 DAVID M BENSON TRUSTEE 3.00 X 0 0 0 HOWARD C BISSELL TRUSTEE 3.00 X 0 0 0 D ANN CAULKINS TRUSTEE 3.00 X 0 0 0 PATRICK L DIAMOND TRUSTEE 3.00 X 0 0 0 DWIGHT L HOLLIER TRUSTEE 3.00 X 0 0 0 DR AMEESHA P KANSUPADA TRUSTEE 3.00 X 0 0 0 KATHLEEN KNOX KRUPA TRUSTEE 3.00 X 0 0 0 LEIGH F MORAN TRUSTEE 3.00 X 0 0 0 JAMES H MCLAWHORN TRUSTEE 3.00 X 0 0 0 AMY F OWEN TRUSTEE 3.00 X 0 0 0 WALKER L POOLE TRUSTEE 3.00 X 0 0 0 SALLY SAUSSY TRUSTEE 3.00 X 0 0 0 LAURA A SCHULTE TRUSTEE 3.00 X 0 0 0 A WELLFORD TABOR TRUSTEE 3.00 X 0 0 0 RONALD A VEITH TRUSTEE 3.00 X 0 0 0 LOUIS A BLEDSOE III CHAIR & TRUSTEE 3.00 X X 0 0 0 SHANNON W MCFAYDEN PAST CHAIR & TRUSTEE 3.00 X X 0 0 0 DR CHERYL D COURTLANDT VICE CHAIR & TRUSTEE 3.00 X X 0 0 0 TODD A GORELICK VICE CHAIR & TRUSTEE 3.00 X X 0 0 0 VICKY C MITCHENER VICE CHAIR & TRUSTEE 3.00 X X 0 0 0 ANDREW D PLEPLER VICE CHAIR & TRUSTEE 3.00 X X 0 0 0 DR JAMES W ROBERTS VICE CHAIR & TRUSTEE 3.00 X X 0 0 0 ARTHUR C ROSELLE VICE CHAIR & TRUSTEE 3.00 X X 0 0 0 GARY R WOLFE SECRETARY-TREASURER & TRUSTEE 3.00 X X 0 0 0 MARK REED HEAD OF SCHOOL 70.00 X 370100 0 79742 DAVID LEE MANCOS CHIEF FINANCIAL OFFICER 70.00 X 231878 0 23031 LAUREN BATTEN DIRECTOR OF ADVANCEMENT 50.00 X 172975 0 13197 KEVIN S DALY MS, PE INSTRUCTOR 50.00 X 156307 0 14006 MARGARET P OTEY HEAD OF LOWER SCHOOL 50.00 X 150320 0 15291 WARREN MENDEL SEPKOWITZ HEAD OF MIDDLE SCHOOL 50.00 X 136420 0 14459 MATTHEW T LESS HEAD OF UPPER SCHOOL 50.00 X 124100 0 11234 NANCY R EHRINGHAUS DIRECTOR OF ADMISSIONS/FINANCIAL AID 50.00 X 122467 0 14276 1464567 0 185236 14 0 1 0 ALADDIN FOOD MANAGEMENT SERVICES 16567 COLLECTIONS CENTER DRIVE CHICAGO IL 606931656 FOOD SERVICES 1052552 ARAMARK CORPORATION PO BOX 198532 ATLANTA GA 303848532 CUSTODIAL SERVICES 413306 THE BUDD GROUP PO BOX 890856 CHARLOTTE NC 282890856 CUSTODIAL SERVICES 248998 KNIGHT TRAVEL PO BOX 220488 CHARLOTTE NC 28222 TRAVEL SERVICES 183442 SUELLEN & CO 3418 STOCKTIE ROAD CHARLOTTE NC 28210 BUILDING MAINTENANCE SERVICES 134693 7 3494855 52289 3494855 TUITION 611710 32738606 32738606 PROGRAM FEES 611710 1839133 1839133 FOOD SERVICES 611710 1053675 1053675 TRANSPORTATION 480000 385210 385210 36016624 6954241 -25029 6979270 32686 0 32686 32686 32686 24000991 800 24169552 1839 -168561 -1039 -169600 -169600 691742 343147 348595 348595 134635 60715 73920 73920 236060 239715 -3655 -3655 OTHER INCOME 900099 54045 54045 APPLICATION FEES 611710 44269 44269 FORFEITED DEPOSITS 611710 18750 18750 23660 23660 140724 46888390 36157348 -25029 7261216 3859701 3859701 830209 830209 19217157 14079627 4377223 760307 997719 734785 226440 36494 2044133 1572123 401791 70219 1459129 1109498 295962 53669 20603 20603 40700 40700 24403 24403 1219532 107695 1008239 103598 20542 6186 14356 962489 74067 817128 71294 254965 152979 50993 50993 939956 892958 46998 98035 48194 49841 60245 36147 12049 12049 322928 288668 34260 2132196 2025586 106610 348822 15000 333822 BOOKS & EDUCATIONAL PRO 1851592 1435611 180619 235362 FOOD SERVICE & HOSPITAL 1022337 1022337 GROUNDS EXPENSE & MAINT 841552 113319 728233 ATHLETIC EXPENSE 441500 441500 824607 225614 214619 384374 39835052 29071804 8970533 1792715 8724653 8192993 439343 2023125 4447427 4373973 261288 250021 155831 161608 192454 225910 72767076 31311208 42182582 41455868 61330107 66330724 177686 164616 117911371 123178838 3424388 3496698 7488481 6861931 20670000 19390000 535830 433399 32118699 30182028 X 45774514 59319547 21813480 14673919 18204678 19003344 85792672 92996810 117911371 123178838 X 7053338 48369 102431 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 39955486 451802 6575525 618631 46364182 23058721 14827670 2681155 612060 39955486 23519298 825606 -680183 606000 23058721 18682319 1642735 3794244 600000 23519298 15768568 1436569 1812182 335000 18682319 0.37000 0.25000 0.38000 0 0 2767619 2767619 50669940 22990824 27679116 10888823 4940662 5948161 8440694 3379722 5060972 41455868 BONDS & FIXED INCOME FUNDS 19988284 F PRIVATE INVESTMENT FUNDS 46342440 F 66330724 LIABILITY UNDER SWAP AGREEMENT 433399 433399 X 45662845 48369 -1894127 -1845758 47508603 24403 -644616 -620213 46888390 38457668 643577 643577 37814091 24403 1996558 2020961 39835052 PART V, LINE 4: ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS, GENERAL OPERATING EXPENSES AND PROPERTY AND EQUIPMENT IMPROVEMENTS AND UPKEEP. PART X, LINE 2: IN ACCORDANCE WITH INTERNAL REVENUE CODE REGULATIONS, THE SCHOOL IS TAXED ON UNRELATED BUSINESS INCOME, WHICH CONSISTS OF EARNINGS FROM ACTIVITIES NOT RELATED TO THE EXEMPT PURPOSE OF THE SCHOOL. THE SCHOOL ACCOUNTS FOR TAX UNCERTAINTIES BASED ON A MORE LIKELY THAN NOT RECOGNITION THRESHOLD WHEREBY TAX BENEFITS ARE ONLY RECOGNIZED WHEN THE SCHOOL BELIEVES THAT THEY HAVE A GREATER THAN 50% LIKELIHOOD OF BEING SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT HAS EVALUATED ALL ITS TAX POSITIONS AND DETERMINED THAT THE SCHOOL HAD NO UNCERTAIN INCOME TAX POSITIONS AS OF JUNE 30, 2014 AND 2013. MANAGEMENT BELIEVES THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR TAX YEARS PRIOR TO JUNE 30, 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIPS SHOWN NET OF TUITION ON FINANCIALS -1,996,558. UNREALIZED LOSS ON SWAP AGREEMENT 102,431. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -239,715. SPECIAL EVENT EXPENSES -403,862. GAIN ON EQUIPMENT DISPOSAL -1,039. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 239,715. SPECIAL EVENT EXPENSES 403,862. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIPS SHOWN NET OF TUITION ON FINANCIALS 1,996,558. 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'S RACIALLY NON-DISCRIMINATORY POLICY TOWARDS STUDENTS IS PUBLISHED THROUGH A PRINTED STATEMENT OF THE SCHOOL'S ADMINISTRATION POLICY IN A LOCAL NEWSPAPER AND MAGAZINES. BIG SATURDAY 132924 132924 81906 AUCTION 273434 273434 122526 3 285384 285384 138715 691742 691742 343147 343147 348595 134635 16000 33499 11216 0 134635 16000 33499 11216 60715 73920 NC 0 NO LICENSE IS REQUIRED. 0 0 0 0.50000 0.50000 DAVID MANCOS 1440 CARMEL ROAD CHARLOTTE NC 28226 0 0 1 FINANCIAL AID/TUITION REMISSION 247 3687741 SCHOLARSHIPS 32 171960 PART I, LINE 2: THE AMOUNT OF THE FINANCIAL AID OR SCHOLARSHIP IS ONLY APPLIED TO A STUDENTS' BILLING ACCOUNT. THE FINANCIAL AID COMMITTEE REVIEWS ALL REQUESTS FOR FINANCIAL AID. ADDITIONALLY, EACH DONOR (OF A NAMED SCHOLARSHIP ENDOWMENT) RECEIVES A LETTER FROM DEVELOPMENT SAYING WHO RECEIVED THE SCHOLARSHIP. X X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 MARK REED HEAD OF SCHOOL 370100 0 0 0 0 0 73464 0 6278 0 449842 0 0 0 DAVID LEE MANCOS CHIEF FINANCIAL OFFICER 231878 0 0 0 0 0 16753 0 6278 0 254909 0 0 0 LAUREN BATTEN DIRECTOR OF ADVANCEMENT 172975 0 0 0 0 0 6919 0 6278 0 186172 0 0 0 KEVIN S DALY MS, PE INSTRUCTOR 156307 0 0 0 0 0 7779 0 6227 0 170313 0 0 0 MARGARET P OTEY HEAD OF LOWER SCHOOL 150320 0 0 0 0 0 9013 0 6278 0 165611 0 0 0 WARREN MENDEL SEPKOWITZ HEAD OF MIDDLE SCHOOL 136420 0 0 0 0 0 8181 0 6278 0 150879 0 0 0 PART I, LINE 1A THE BOARD APPROVED THAT THE HEAD OF SCHOOL MAY TRAVEL FIRST-CLASS FOR ANY FLIGHTS LONGER THAN THREE HOURS. THE BOARD ALSO APPROVED THAT THE HEAD OF SCHOOL IS ALLOWED A BUDGETED AMOUNT OF DISCRETIONARY EXPENDITURES. IT IS USED TO SUPPORT ANY UNANTICIPATED NEEDS OF THE SCHOOL. AS A CONDITION OF EMPLOYMENT, THE HEAD OF SCHOOL IS REQUIRED TO LIVE IN THE SCHOOL'S HOUSE LOCATED ON THE CAMPUS. THIS RESIDENCE IS PROVIDED FOR THE CONVENIENCE OF THE SCHOOL IN HAVING THE FUNCTIONS OF THE OFFICE OF THE HEAD OF SCHOOL EFFICIENTLY DISCHARGED. THE SCHOOL PROVIDES HOUSEKEEPING SERVICES TO THE HEAD OF SCHOOL FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THE HEAD OF SCHOOL CAN PERFORM ESSENTIAL SCHOOL BUSINESS AND ACTIVITIES AT THE HOME. THIS HOUSING ALLOWANCE IS TREATED AS A NON-TAXABLE BENEFIT. A NC CAPITAL FACILITIES FINANCE 561592154 65818PGN3 2008-06-01 12690000 SCHOOL CONSTRUCTION 0 0 0 A 12690000 159515 12530485 2009 0 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 0 0 0 0 A 0 SHOWALTER CONSTRUCTION CO INC CARL SHOWALTER IS A FORMER TRUSTEE & OWNER OF THE COMPANY 128236 CONSTRUCTION COSTS WERE NEGIOTIATED IN THE NORMAL COURSE OF BUSINESS AND AT ARM'S LENGTH. 0 X 5 18789 FMV X RAFFLE PRIZE 1 33500 FMV 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 SCOTT PERPER, WATTS HAMRICK, AND ART ROSELLE, ALL TRUSTEES ON THE BOARD HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE REVIEWS THE IRS FORM 990 WITH THE CHIEF FINANCIAL OFFICER BEFORE THE FORM IS FILED. A COPY OF THE IRS FORM 990 IS PROVIDED TO EACH BOARD MEMBER AT A REGULARLY SCHEDULED BOARD MEETING. MEMBERS ARE ENCOURAGED TO REVIEW THE FORM AND DIRECT ANY QUESTIONS TO THE CHAIR OF THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD MAINTAINS A CONFLICT OF INTEREST POLICY WHICH IS REVIEWED AND SIGNED ON AN ANNUAL BASIS. ALL TRUSTEES AND OTHER INTERESTED PERSONS ARE REQUIRED TO READ, COMPLETE AND SIGN THE CONFLICT OF INTEREST POLICY FORM ANNUALLY. IF AN ISSUE IS TO BE DECIDED BY THE BOARD THAT INVOLVES A POTENTIAL CONFLICT OF INTEREST FOR A BOARD MEMBER OR OTHER INTERESTED PERSONS, IT IS THE RESPONSIBILITY OF THE BOARD MEMBER OR OTHER INTERESTED PERSONS TO: (1) IDENTIFY THE POTENTIAL CONFLICT OF INTEREST SO THAT BOARD MEMBERS WHO ARE VOTING ON A DECISION ARE AWARE THAT ANOTHER MEMBERS' INTEREST ARE BEING AFFECTED; (2) NOT PARTICIPATE IN THE DISCUSSION OF THE PROGRAM, ISSUE OR MOTION BEING CONSIDERED; AND (3) BE RECUSED DURING THE VOTE ON THE MOTION. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL HAS A HEAD'S COMPENSATION COMMITTEE. THE COMMITTEE ANNUALLY REVIEWS BENCHMARK COMPENSATION DATA FROM SEVERAL SOURCES SUCH AS NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL (NAIS) AND INDEPENDENT SCHOOL DATA EXCHANGE (INDEX). THE COMMITTEE ANALYZES DATA FROM THESE AND OTHER ORGANIZATIONS IN ORDER TO MAKE A RECOMMENDATION TO THE BOARD OF TRUSTEES REGARDING THE HEAD'S COMPENSATION. THE BOARD HAS APPROVAL AUTHORITY FOR THE HEAD'S COMPENSATION AND APPROVES THE PACKAGE ANNUALLY. ALL DISCUSSIONS AND DECISIONS ARE DOCUMENTED IN THE MINUTES. THE HEAD OF SCHOOL DETERMINES AND ESTABLISHES SALARIES FOR ALL OTHER TOP MANAGEMENT AND KEY EMPLOYEES. HE USES DATA FROM THESE SAME ORGANIZATIONS (NAIS & JRPO) TO ASSIST IN ESTABLISHING TOP MANAGEMENT AND KEY EMPLOYEE SALARIES. ALL SALARY INCREASES MUST BE WITHIN THE BUDGET AS APPROVED BY THE BOARD OF TRUSTEES, AND THE BOARD MONITORS THE BUDGET TO ENSURE COMPLIANCE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED LOSS ON SWAP AGREEMENT 102,431. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE IS APPOINTED BY THE BOARD OF TRUSTEES TO ASSIST THE BOARD IN FULFILLING ITS FISCAL OVERSIGHT RESPONSIBILITIES. THE PRIMARY DUTIES OF THE COMMITTEE ARE: TO MONITOR THE INTEGRITY OF CHARLOTTE COUNTRY DAY SCHOOL'S FINANCIAL REPORTING PROCESS AND SYSTEMS OF INTERNAL CONTROLS REGARDING FINANCE, ACCOUNTING AND LEGAL COMPLIANCE, TO MONITOR THE PERFORMANCE OF CHARLOTTE COUNTRY DAY SCHOOL'S INDEPENDENT AUDITORS, AND TO PROVIDE AN AVENUE OF COMMUNICATION AMONG THE INDEPENDENT AUDITORS, MANAGEMENT AND THE BOARD OF TRUSTEES.