2013-11-14T14:05:17-06:00 2013-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVENUE SUITE 1000 CHARLOTTE NC 28204 990 2012-07-01 560623935 CHARLOTTE COUNTRY DAY SCHOOL CHAR 7049434551 1440 CARMEL ROAD CHARLOTTE NC 282265096 DAVID L MANCOS 7049434551 2013-11-14 1 JANICE A RATICA P00358837 7043771678 2012 2016-02-25 16:41:14Z MARK REED 1440 CARMEL ROAD CHARLOTTE NC 28226 102159814 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 25 580 300 0 0 3451347 3699045 34556720 35159810 1002783 3166635 808713 466575 39819563 42492065 3663801 3725773 0 0 23432814 23986348 0 0 2066301 10962305 11262081 38058920 38974202 1760643 3517863 114768532 117911371 32334833 32118699 82433699 85792672 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 25698782 3725773 32124089 INSTRUCTIONAL - FUNDS WERE USED TO PROVIDE COMPREHENSIVE EDUCATIONAL PROGRAMS TO APPROXIMATELY 1,600 STUDENTS IN GRADES PRE-KINDERGARTEN THROUGH GRADE 12. 1355284 1704983 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. 1167547 1468804 AUXILIARY SERVICES - FUNDS WERE USED TO PROVIDE FOOD, CAMPUS STORE, AND TRANSPORTATION TO STUDENTS IN GRADES PRE-KINDERGARTEN TO 12. 28221613 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 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 49 2 1 580 1 0 1 CJ 0 0 0 1 1 0 0 0 0 X 25 25 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DAVID L MANCOS 7049434551 1440 CARMEL ROAD CHARLOTTE NC 282265096 DAVID M BENSON 4.00 X 0 0 0 HOWARD C BISSELL 4.00 X 0 0 0 EDISON P CASSELS 4.00 X 0 0 0 D ANN CAULKINS 4.00 X 0 0 0 PATRICK L DIAMOND 4.00 X 0 0 0 DWIGHT L HOLLIER 4.00 X 0 0 0 KATHLEEN KNOX KRUPA 4.00 X 0 0 0 JAMES H MCLAWHORN 4.00 X 0 0 0 DR AMEESHA P KANSUPADA 4.00 X 0 0 0 AMY F OWEN 4.00 X 0 0 0 LEIGH F MORAN 4.00 X 0 0 0 LAURA A SCHULTE 4.00 X 0 0 0 WALKER L POOLE 4.00 X 0 0 0 SALLY SAUSSY 4.00 X 0 0 0 A WELLFORD TABOR 4.00 X 0 0 0 RONALD A VEITH 4.00 X 0 0 0 LOUIS A BLEDSOE III 4.00 X X 0 0 0 SHANNON W MCFAYDEN 4.00 X X 0 0 0 DR CHERYL D COURTLANDT 4.00 X X 0 0 0 VICKY C MITCHENER 4.00 X X 0 0 0 TODD A GORELICK 4.00 X X 0 0 0 ANDREW D PLEPLER 4.00 X X 0 0 0 DR JAMES W ROBERTS 4.00 X X 0 0 0 ARTHUR C ROSELLE 4.00 X X 0 0 0 GARY R WOLFE 4.00 X X 0 0 0 MARK REED 70.00 X 391917 0 29940 DAVID L MANCOS 70.00 X 220528 0 23422 LAUREN BATTEN 50.00 X 168491 0 10923 KEVIN S DALY 50.00 X 143186 0 15064 MARGARET P OTEY 50.00 X 140500 0 15953 WARREN SEPKOWITZ 50.00 X 130750 0 15368 AMOS H BRANSON JR 50.00 X 121371 0 16612 MATTHEW T LESS 50.00 X 117520 0 12209 1434263 0 139491 15 0 1 0 ALADDIN FOOD MANAGEMENT SERVICES 16567 COLLECTIONS CENTER DRIVE CHICAGO IL 606931656 FOOD SERVICES 1058671 ARAMARK CORPORATION 24858 NETWORK PLACE CHICAGO IL 606731248 CUSTODIAL SERVICES 898547 SHOWALTER CONSTRUCTION CO INC PO BOX 220289 CHARLOTTE NC 28222 CONSTRUCTION SERVICES 421607 DIAMOND ELECTRONICS INC PO BOX 433 MIDLAND NC 28107 ELECTRONICS SERVICES 356586 SUELLEN & CO 3418 STOCKTIE ROAD CHARLOTTE NC 28210 CARPET & RUG SERVICES 208716 8 3699045 259530 3699045 TUITION 611710 31986023 31986023 PROGRAM FEES 611710 1704983 1704983 FOOD SERVICES 611710 1085093 1085093 TRANSPORTATION 480000 383711 383711 35159810 2896031 2896031 31358 0 31358 31358 31358 59354816 18705 59075829 27088 278987 -8383 270604 270604 506813 268788 238025 238025 128165 60916 67249 67249 227005 235128 -8123 -8123 OTHER INCOME 900099 46128 46128 APPLICATION FEES 611710 44810 44810 FORFEITED DEPOSITS 611710 22250 22250 24878 24878 138066 42492065 35297876 0 3495144 3725773 3725773 665806 665806 18764345 13864345 4152216 747784 990137 730764 223521 35852 2147676 1630406 444468 72802 1418384 1082189 283158 53037 31092 31092 25982 25982 1550053 108087 1156404 285562 43556 5156 4038 34362 852792 71857 679105 101830 228165 136899 45633 45633 891280 846716 44564 86949 44913 42036 44279 26567 8856 8856 431120 380215 20011 30894 2056572 1953743 102829 268436 13000 255436 BOOKS & EDUCATIONAL PRO 1640585 1206293 181444 252848 FOOD SERVICE & HOSPITAL 1033696 1033696 GROUNDS EXPENSE & MAINT 858113 85273 772840 ATHLETIC EXPENSE 487697 408526 79171 731714 201389 212655 317670 38974202 28221613 8686288 2066301 8204346 8724653 25033154 439343 5252606 4447427 334766 261288 151296 155831 314745 192454 71642599 29460017 42921695 42182582 32365168 61330107 190756 177686 114768532 117911371 3269199 3424388 6462249 7488481 21890000 20670000 713385 535830 32334833 32118699 X 47058928 45774514 17940201 21813480 17434570 18204678 82433699 85792672 114768532 117911371 X 3517863 -336445 177555 X X 0 1 X 0 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 23058721 14827670 2681155 612060 39955486 23519298 825606 -680183 606000 23058721 18682319 1642735 3794244 600000 23519298 15768568 1436569 1812182 335000 18682319 18549125 1602745 -3718757 664545 15768568 0.37000 0.20000 0.43000 0 0 2767619 2767619 50669940 22010356 28659584 10110651 4391934 5718717 8094389 3057727 5036662 42182582 COMMON STOCKS 5294 F BONDS & FIXED INCOME FUNDS 22093074 F PRIVATE INVESTMENT FUNDS 39231739 F 61330107 UNREALIZED LOSS ON SWAP AGREEMENT 535830 535830 X 41112099 -336445 -1590753 -1927198 43039297 25982 -573214 -547232 42492065 37744743 564831 564831 37179912 25982 1768308 1794290 38974202 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS, GENERAL OPERATING EXPENSES AND PROPERTY AND EQUIPMENT IMPROVEMENTS AND UPKEEP. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: MANAGEMENT HAS EVALUATED THE EFFECT OF FASB GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE GUIDANCE CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS BY PRESCRIBING A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAXEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE SCHOOL'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE SCHOOL, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION TAKEN BY MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF JUNE 30, 2013 AND 2012, AND ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIPS SHOWN NET OF TUITION ON FINANCIALS -1,768,308. UNREALIZED LOSS ON SWAP AGREEMENT 177,555. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -235,128. SPECIAL EVENT EXPENSES -329,703. GAIN ON EQUIPMENT DISPOSAL -8,383. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 235,128. SPECIAL EVENT EXPENSES 329,703. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIPS SHOWN NET OF TUITION ON FINANCIALS 1,768,308. 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 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. CENTRAL AMERICA AND THE CARIBBEAN - 0 0 INVESTMENTS;LISTTOTAL 2459676 32720 0 0 0 0 0 0 32720 0 32720 0 0 1 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: FORM 990, PART IV, LINE 3 ALTHOUGH THE ORGANIZATION HAD AN OWNERSHIP IN CERTAIN FOREIGN CORPORATIONS (INVESTMENTS) DURING THE TAX YEAR, THE INVESTMENT AMOUNT WAS NOT HIGH ENOUGH TO RENDER THE FILING OF FORM 5471. SCHEDULE F, PART IV, LINE 4 THE ORGANIZATION IS AN INVESTOR IN ONE OR MORE "PASSIVE FOREIGN INVESTMENT COMPANIES" ("PFICS"). THE ORGANIZATION DID NOT RECEIVE ANY TAXABLE DISTRIBUTIONS FROM ANY OF THE PFICS DURING FISCAL YEAR 2012. FORM 8621 IS NOT BEING FILED PURSUANT TO IRS GUIDANCE SET FORTH IN REG. SEC. 1.1291-1(E). BIG SATURDAY 130336 130336 81755 AUCTION 0 4757 3 376477 376477 182276 506813 506813 268788 268788 238025 128165 15000 35275 10641 0 128165 15000 35275 10641 60916 67249 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 248 3557048 SCHOLARSHIPS 32 168720 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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 1 0 0 0 0 0 0 0 MARK REED 391917 0 0 0 0 0 22417 0 7523 0 421857 0 0 0 DAVID L MANCOS 220528 0 0 0 0 0 15899 0 7523 0 243950 0 0 0 LAUREN BATTEN 168491 0 0 0 0 0 3400 0 7523 0 179414 0 0 0 KEVIN S DALY 143186 0 0 0 0 0 7610 0 7454 0 158250 0 0 0 MARGARET P OTEY 140500 0 0 0 0 0 8430 0 7523 0 156453 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. PART I, LINE 4B THE SCHOOL CONTRIBUTED $9,917 TO A 457(B) PLAN FOR THE HEAD OF SCHOOL, MARK REED, FOR HIS SERVICES TO THE SCHOOL. 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 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 0 1 0 0 0 0 SHOWALTER CONSTRUCTION CO INC CARL SHOWALTER IS A MEMBER OF THE BOARD OF TRUSTEES & OWNER OF THE COMPANY 221214 CONSTRUCTION COSTS WERE NEGIOTIATED IN THE NORMAL COURSE OF BUSINESS AND AT ARM'S LENGTH. 0 X 4 259530 FAIR MARKET VALUE 0 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) NOT 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: UNREALIZED LOSS ON SWAP AGREEMENT 177,555. 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.