2012-05-04T15:06:50-05:00 2011-06-30 RUNYON KERSTEEN OUELLETTE 20 LONG CREEK DRIVE SOUTH PORTLAND ME 04106 990 2010-07-01 010223755 BERWICK ACADEMY BERW 2073842164 31 ACADEMY STREET SOUTH BERWICK ME 03908 SETH A HURD 2073842164 2012-05-02 1 THOMAS EMERY 2077732986 2010 2016-02-24 21:20:13Z GREGORY SCHNEIDER 31 ACADEMY STREET SOUTH BERWICK ME 03908 35774132 0 X BERWICKACADEMY.ORG X 1791 ME TO PROMOTE "VIRTUE AND USEFUL KNOWLEDGE AMONG THE RISING GENERATIONS". FOR OVER 200 YEARS, THE ACADEMY HAS PURSUED ITS MISSION THROUGH A CLASSICAL EDUCATION OF THE WHOLE PERSON. WE PREPARE STUDENTS TO PROSPER ACADEMICALLY IN COLLEGE AND TO ENJOY AN ENDURING COMMITMENT TO THE LIFE OF THE MIND. WE TEACH THE CREATIVE PROCESS OF THE ARTS EMPHASIZING PERFORMACE AND EXHIBITION. WE PROMOTE ATHLETIC AND PHYSICAL DEVELOPMENT WITHIN AN ETHIC OF SPORTSMANSHIP. WE NURTURE STRENGTH OF CHARACTER, INDIVIDUAL RESPONSIBILITY, AND A COMMITMENT TO THE COMMON GOOD. BERWICK STUDENTS, TEACHERS, AND FAMILIES COMPRISE A COMMUNITY OF LEARNERS THAT INSTILLS THE ETHIC OF PERSONAL EXCELLENCE. THE ACADEMY IS ONE SCHOOL WITH THREE DIVISIONS EACH DESIGNED TO BROADEN AND DEEPEN THE FOUNDATIONS OF VIRTUE AND KNOWLEDGE FOR THE CONTINUING DEVELOPMENT OF EACH STUDENT'S POTENTIAL. 23 22 233 200 749 0 1396653 1585104 12784743 13756497 25996 58166 60439 102656 14267831 15502423 1919300 2358207 0 0 8713324 8578854 0 0 458930 4656191 4812624 15288815 15749685 -1020984 -247262 45073799 41233898 12175214 9463334 32898585 31770564 X TO PROMOTE "VIRTUE AND USEFUL KNOWLEDGE AMONG THE RISING GENERATIONS". FOR OVER 200 YEARS, THE ACADEMY HAS PURSUED ITS MISSION THROUGH A CLASSICAL EDUCATION OF THE WHOLE PERSON. WE PREPARE STUDENTS TO PROSPER ACADEMICALLY IN COLLEGE AND TO ENJOY AN ENDURING COMMITMENT TO THE LIFE OF THE MIND. WE TEACH THE CREATIVE PROCESS OF THE ARTS EMPHASIZING PERFORMACE AND EXHIBITION. WE PROMOTE ATHLETIC AND PHYSICAL DEVELOPMENT WITHIN AN ETHIC OF SPORTSMANSHIP. WE NURTURE STRENGTH OF CHARACTER, INDIVIDUAL RESPONSIBILITY, AND A COMMITMENT TO THE COMMON GOOD. BERWICK STUDENTS, TEACHERS, AND FAMILIES COMPRISE A COMMUNITY OF LEARNERS THAT INSTILLS THE ETHIC OF PERSONAL EXCELLENCE. THE ACADEMY IS ONE SCHOOL WITH THREE DIVISIONS EACH DESIGNED TO BROADEN AND DEEPEN THE FOUNDATIONS OF VIRTUE AND KNOWLEDGE FOR THE CONTINUING DEVELOPMENT OF EACH STUDENT'S POTENTIAL. 0 0 12155555 2358207 13807846 INDEPENDENT COEDUCATIONAL COUNTRY DAY SCHOOL, PRE-K THROUGH POST GRADUATE, SERVING OVER 585 STUDENTS FROM THE SEACOAST AREA OF SOUTHERN MAINE, NEW HAMPSHIRE, AND NORTH SHORE MASSACHUSETTS. 12155555 1 1 0 0 0 0 0 0 1 1 0 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 1 0 0 1 0 0 0 0 1 0 0 0 0 1 19 0 1 233 1 1 1 0 0 0 0 0 0 0 0 0 X 23 22 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 0 0 ME X X GREGORY J SCHNEIDER 2073846102 31 ACADEMY STREET SOUTH BERWICK ME 03908 MARK H TAY 1.00 X X 0 0 0 MATTHEW R FRIEL 1.00 X X 0 0 0 ERIC S KATZ 1.00 X X 0 0 0 ALEX AUTY 1.00 X 0 0 0 NINA BINNIE 1.00 X 0 0 0 PHIL CAVANAUGH 1.00 X 0 0 0 KATE GLASSON 1.00 X 0 0 0 JAMESON S FRENCH 1.00 X 0 0 0 ROBERT J HOY 1.00 X 0 0 0 JAMES JALBERT 1.00 X 0 0 0 CAROLINE C LEVINE 1.00 X 0 0 0 HOLLY A MALLOY 1.00 X 0 0 0 PETER M MARTIN 1.00 X 0 0 0 LUCAS M MERROW 1.00 X 0 0 0 SUSAN NOERDLINGER 1.00 X 0 0 0 MICHAEL J SCHAFER 1.00 X 0 0 0 FRED A SEIGEL 1.00 X 0 0 0 MALCOLM E SMITH III 1.00 X 0 0 0 MARGARET M TALCOTT 1.00 X 0 0 0 GREGORY J SCHNEIDER 50.00 X X X 188212 0 30560 GINGER MATHEWS 1.00 X 0 0 0 KAREN G WALSH 1.00 X 0 0 0 LESLI R FRIEL 1.00 X 0 0 0 188212 0 30560 1 0 1 0 QUIRK CONSTRUCTION CORP 1 MARTEL WAY GEORGETOWN MA 01833 CONSTRUCTION - VARIOUS 800029 SAGE DINING SERVICES INC 222 BOSLEY AVENUE SUITE B7 TOWSON MD 21204 DINING SERVICES 627724 STUDENT TRANSPORTATION OF AMERICA 3349 HIGHWAY 138 BUILDING B SUITE WALL NJ 07719 STUDENT TRANSPORTATION 399779 STROGEN'S HVAC 113 MILTON ROAD ROCHESTER NH 03868 HVAC 104360 4 199357 1385747 47585 1585104 TUITION AND FEES 611600 13150472 13150472 AUXILIARY INSTRUCTION 611600 252391 252391 TRANSPORTATION 480000 202128 202128 SUMMER PROGRAMS 611600 51771 51771 AFTERCARE 624410 50055 50055 49680 49680 13756497 51489 51489 4747 4747 4747 4747 20183522 8798 20185643 -2121 8798 6677 6677 86179 199357 69091 17088 749 16339 30025 553 29472 29472 17625 16422 1203 1203 SODA/VENDING MACHINES/ 900099 18256 18256 YEARBOOK INCOME 611600 12410 12410 STUDENT ACTIVITIES 611600 9765 9765 9715 9715 50146 15502423 13807846 749 108724 2358207 2358207 253145 84382 84382 84381 5708030 4601337 929751 176942 384269 303121 71189 9959 1766613 1360502 345553 60558 466797 368088 78992 19717 17200 17200 12285 12285 1205151 1059243 145908 23635 4024 19611 622328 390251 126965 105112 86865 86865 472785 449409 23376 52543 42393 7889 2261 463493 463493 838923 798712 40211 125144 125144 DEPARTMENT/ATHLETICS 315573 315573 EQUIPMENT 265632 265632 BAD DEBTS/TUITION ADJUS 150741 150741 MISCELLANEOUS 140013 140013 VEHICLES 20313 20313 15749685 12155555 3135200 458930 70700 321861 21239118 9057220 2685234 2258727 464210 551475 39112 33080 264006 306270 31147280 11856306 18966160 19290974 330939 8368001 336010 346607 678310 699683 45073799 41233898 1494694 1416243 9815000 7000000 133048 89173 732472 957918 12175214 9463334 X 18606158 17326769 3635100 3683234 10657327 10760561 32898585 31770564 45073799 41233898 X -247262 -880759 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19601716 59747 -12726 3116055 16532682 16275969 1054335 2271412 19601716 10774080 178806 -500471 10452415 0.33800 0.06510 0.59690 0 0 336830 336830 28393928 9776231 18617697 1395206 1174475 220731 1021316 905600 115716 19290974 ADVANCE TUITION & DEPOSITS 957918 957918 15502423 15749685 -247262 217664 -1098423 -880759 -1128021 13117800 217664 16422 234086 12883714 12285 2606424 2618709 15502423 13395615 16422 16422 13379193 12285 2358207 2370492 15749685 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE PURPOSE OF THIS FUND IS TO GENERATE INCOME TO BE USED TO PROVIDE ANNUAL SCHOLARSHIPS, AWARDS AND PRIZES TO STUDENTS OF THE ACADEMY AS WELL AS TO PROVIDE SUPPORT FOR GENERAL OPERATIONS OF THE ACADEMY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE ACADEMY FOLLOWS THE PROVISIONS OF ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES AS PROVIDED FOR IN THE INCOME TAXES TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION. THIS STATEMENT CLARIFIES THE CRITERIA THAT AN INDIVIDUAL TAX POSITION MUST SATISFY FOR SOME OR ALL OF THE BENEFITS OF THAT POSITION TO BE RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. IT ALSO PRESCRIBES A RECOGNITION THRESHOLD OF MORE LIKELY-THAN-NOT, AND A MEASUREMENT ATTRIBUTE FOR ALL TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN, IN ORDER FOR THOSE TAX POSITIONS TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS. THERE WAS NO CUMULATIVE EFFECT ON THE ACADEMY'S FINANCIAL STATEMENTS RELATED TO THESE PROVISIONS, AND NO INTEREST OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS WERE ACCRUED. THE ACADEMY IS CURRENTLY OPEN TO AUDIT UNDER THE STATUTE OF LIMITATIONS BY THE INTERNAL REVENUE SERVICE AND STATE TAXING AUTHORITIES FOR THE YEARS ENDED JUNE 30, 2008 THROUGH 2011. PART XI, LINE 8 - OTHER ADJUSTMENTS: LOSS ON BOND EXTINGUISHMENT -850,206. BOOK/TAX DIFFERENCE IN RECORDING OF FUNDRAISING OF PARENTS ASSOCIATION -248,217. PART XII, LINE 2D - OTHER ADJUSTMENTS: INVENTORY COST OF GOODS SOLD 16,422. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FINANCIAL AID 2,358,207. NET FUNDRAISING ACTIVITIES 248,217. PART XIII, LINE 2D - OTHER ADJUSTMENTS: INVENTORY COST OF GOODS SOLD 16,422. PART XIII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND FINANCIAL AID 2,358,207. 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 RACIAL NONDISCRIMINATION POLICY IS PUBLISHED IN ITS CATALOGS AND BROCHURES. COMMUNITY BENEFIT AUCTION 285536 199357 86179 19468 2500 20025 285536 199357 86179 19468 2500 20025 41993 44186 30025 553 1 1.00000 30025 553 553 29472 ME 0 0 0 0 0 0 1 FINANCIAL AID 201 2358207 FINANCIAL ASSISTANCE TO STUDENTS IN THE FORM OF TUITION REDUCTION. X X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 GREGORY J SCHNEIDER 188212 0 0 0 0 0 9900 0 20660 0 218772 0 0 0 PART I, LINE 1A HOUSING IS PROVIDED TO THE TEACHING STAFF AND TO THE HEAD OF SCHOOL, ON THE BUSINESS PREMISES, FOR THE CONVENIENCE OF THE ACADEMY, IT IS SPECIFIED IN THE EMPLOYMENT CONTRACT AND PURSUANT TO EMPLOYMENT. FINANCE AUTHORITY OF MAINE 010392006 2011-01-05 7000000 REFINANCE TOWN OF SOUTH BERWICK BONDS. SEE DETAIL DESCRIPTION. 0 0 0 7000000 157027 6842973 2011 0 1 1 1 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 0 0 0 0 SCHEDULE K SUPPLENTAL INFORMATION REFUND PRIOR ISSUE TOWN OF SOUTH BERWICK DATED 1998 AND REFUND PRIOR ISSUE TOWN OF SOUTH BERWICK DATED 2000. PART IV ARBITRAGE, LINE 2 VARIABLE RATE ISSUE THE BOND INTEREST RATE IS FIXED AT 4.0% FOR THE FIRST FIFTEEN YEARS, WITH A RESET ON 4/5/2026 AT A RATE NO LESS THAN 4.0%; EXACT RATE TO BE DETERMINED AT THAT TIME. JAMES JALBERT CJ TRAILWAYS TRUSTEE 5272 BUS SERVICES FOR STUDENTS 0 X 3 47585 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 TREASURER BOARD OF TRUSTEES MARRIED TO EX-OFFICIO. MATTHEW FRIEL & LESLI FRIEL. FORM 990, PART VI, SECTION B, LINE 11 THE BUSINESS MANAGER PREPARES RAW MATERIALS FOR INDEPENDENT ACCOUNTING FIRM FOLLOWING THE ANNUAL AUDIT FIELDWORK. AFTER PREPARATION OF THE 990, THE INDEPENDENT ACCOUNTING FIRM PROVIDES A COPY TO THE BUSINESS MANAGER. BUSINESS MANAGER THEN PROVIDES THE AUDIT COMMITTEE WITH A DRAFT COPY OF THE 990 TO REVIEW INDIVIDUALLY PRIOR TO VOTE. AUDIT COMMITTEE VOTES TO APPROVE FORM 990 AS DRAFTED ON BEHALF OF THE BOARD OF TRUSTEES. THE AUDIT COMMITTEE REPORTS TO BOTH THE FINANCE COMMITTEE AND THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C NEW BOARD MEMBERS EDUCATED BY COMMITTEE ON TRUSTEE THROUGH ORIENTATION PROCESS. ANNUALLY THE BOARD MEMBER DISCLOSURE AND POLICY IS REVIEWED AND SIGNED BY EACH MEMBER AT THE FIRST BOARD MEETING. COMMITTEE ON TRUSTEES IS MADE AWARE OF ANY ISSUES. MANAGEMENT MONITORS ANY DISCLOSURES AND KEEP WATCH FOR ANY CONFLICTS OF INTEREST. AT THIS TIME, NO CONFLICT OF INTERESTS HAVE BEEN SELF-IDENTIFIED NOR IDENTIFIED BY THE COMMITTEE ON TRUSTEES OR MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF TRUSTEES HAS AN AD HOC COMPENSATION COMMITTEE WHICH REVIEWS AND RESEARCHES THE HEAD OF SCHOOL COMPENSATION ON AN ONGOING BASIS. THE HEAD OF SCHOOL, AND THE BUSINESS MANAGER REVIEW AND RESEARCH MANAGEMENT COMPENSATION. HOS/BM PARTICIPATE IN A VARIETY OF BENCHMARKING ORGANIZATION AND REVIEW COMPENSATION ON AN ONGOING BASIS. FORM 990, PART VI, SECTION C, LINE 18 THE ACADEMY'S FORM 990 IS AVAILABLE ONLINE AT GUIDESTAR. ANNUAL DISCLOSURES AND FINANCIAL STATEMENTS ARE PROVIDED ANNUALLY TO THE RATING DISSEMINATION AGENT. PUBLIC INSPECTION COPIES OF THE 990, THE FINANCIAL STATEMENTS, DISCLOSURE STATEMENTS AND OTHER GOVERNING DOCUMENTS ARE AVAILABLE IN THE BUSINESS MANAGER'S OFFICE 8:00AM TO 4:30PM MONDAY THROUGH FRIDAY BY APPOINTMENT. FORM 990, PART VI, SECTION C, LINE 19 ANNUAL DISCLOSURES AND FINANCIAL STATEMENTS ARE PROVIDED ANNUALLY TO THE RATING DISSEMINATION AGENT. PUBLIC INSPECTION COPIES OF THE 990, THE FINANCIAL STATEMENTS, DISCLOSURE STATEMENTS AND OTHER GOVERNING DOCUMENTS ARE AVAILABLE IN THE BUSINESS MANAGER'S OFFICE 8:00AM TO 4:30PM MONDAY THROUGH FRIDAY BY APPOINTMENT. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 217,664. LOSS ON BOND EXTINGUISHMENT -850,206. BOOK/TAX DIFFERENCE IN RECORDING OF FUNDRAISING OF PARENTS ASSOCIATION -248,217. TOTAL TO FORM 990, PART XI, LINE 5: -880,759. FORM 990, PART XII, LINE 2C: AUDIT PROCESS OVERSIGHT: THE PROCESS HAS NOT CHANGED. SCHEDULE D, PART V, ENDOWMENT FUNDS - TWO YEARS BACK: IN THE YEAR ENDED JUNE 30, 2011 AUDITED FINANCIAL STATEMENTS, RECLASSIFICATIONS WERE MADE TO THE FINANCIAL STATEMENTS THAT INCREASED THE AMOUNT PRESENTED AS ENDOWMENT FUNDS. SCHEDULE INFORMATION PRESENTED FOR THE ACADEMY'S ENDOWMENT FUNDS WERE UPDATED FOR THE YEARS ENDED JUNE 30, 2011 AND 2010. INFORMATION FOR THE YEAR ENDED JUNE 30, 2009 WAS NOT READILY AVAILABLE. BERWICK ACADEMY PARENTS ASSOCIATION 31 ACADEMY STREET SOUTH BERWICK ME 03908 010420411 SUPPORT THE ACTIVITIES OF BERWICK ACADEMY ME 509(A)(3) 0 0 0 1 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 BERWICK ACADEMY PARENTS ASSOCIATION C 133307 BERWICK ACADEMY PARENTS ASSOCIATION I BERWICK ACADEMY PARENTS ASSOCIATION M