2012-03-24T08:59:07-05:00 2011-06-30 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2010-07-01 060646786 MISS PORTER'S SCHOOL MISS 8604093500 60 MAIN STREET FARMINGTON CT 060322232 MICHAEL J BERGIN 8604093500 2012-03-15 1 ELIZABETH SOLECKI 8605614000 2010 2016-02-24 21:20:13Z MICHAEL J BERGIN 60 MAIN STREET FARMINGTON CT 06032 69024090 0 X WWW.PORTERS.ORG X 1943 CT MISS PORTER'S SCHOOL EXCELS AT PREPARING YOUNG WOMEN FOR COLLEGE, FOR LEADERSHIP, AND FOR LIFE. OUR ATTENTIVE, DIVERSE BOARDING AND DAY COMMUNITY PROVIDES A DEMANDING CURRICULUM - ACADEMIC, ARTISTIC, ATHLETIC AND RESIDENTIAL. WE CHALLENGE OUR STUDENTS TO BECOME INFORMED, BOLD, RESOURCEFUL, AND ETHICAL GLOBAL CITIZENS. WE EXPECT OUR GRADUATES TO SHAPE A CHANGING WORLD. 33 32 260 300 132498 0 4478784 4070616 13205077 13990538 5459519 93111 237860 332600 23381240 18486865 3870793 3711434 0 0 10072622 10435900 0 0 1342985 8283921 8694264 22227336 22841598 1153904 -4354733 126860511 141308125 22495153 23265624 104365358 118042501 X MISS PORTER'S SCHOOL EXCELS AT PREPARING YOUNG WOMEN FOR COLLEGE, FOR LEADERSHIP, AND FOR LIFE. OUR ATTENTIVE, DIVERSE BOARDING AND DAY COMMUNITY PROVIDES A DEMANDING CURRICULUM - ACADEMIC, ARTISTIC, ATHLETIC AND RESIDENTIAL. WE CHALLENGE OUR STUDENTS TO BECOME INFORMED, BOLD, RESOURCEFUL, AND ETHICAL GLOBAL CITIZENS. WE EXPECT OUR GRADUATES TO SHAPE A CHANGING WORLD. 0 0 16739940 3711434 13990538 INDEPENDENT SECONDARY SCHOOL WITH 199 BOARDING STUDENTS AND 123 DAY STUDENTS, 90 SARAH PORTER LEADERSHIP INSTITUTE, 13 JR MODEL UN, 11 ROWING. 16739940 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 89 0 1 260 1 1 1 1 CJ BD 0 0 0 1 1 0 0 0 0 X 33 32 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X MICHAEL BERGIN 8604093500 60 MAIN STREET FARMINGTON CT 06032 FRASER B BEEDE 2.00 X 0 0 0 ELIZABETH K BLAKE 5.00 X 0 0 0 ELISABETH C CARPENTIERI 1.00 X 0 0 0 JEAN M CHAPIN 1.00 X 0 0 0 MICHAEL J CHESHIRE 5.00 X 0 0 0 HARRY T DANIELS 1.00 X 0 0 0 ANNE MELISSA DOWLING 3.00 X 0 0 0 CLOVER M DRINKWATER 1.00 X 0 0 0 THOMAS DUDECK 2.00 X 0 0 0 JANET I FIELD 5.00 X 0 0 0 ALEXANDRA E GOLINKIN 1.00 X 0 0 0 JOHN K GREENE 1.00 X 0 0 0 JUDY M HOLDEN 5.00 X 0 0 0 MIMI C KIRK 5.00 X 0 0 0 ELIZABETH M MCLANAHAN 2.00 X 0 0 0 J MICHAEL MCQUADE 1.00 X 0 0 0 SHARON MCQUADE 1.00 X 0 0 0 DARCY S MAURO 2.00 X 0 0 0 ANNE S NORDEMAN 3.00 X 0 0 0 ANN O NOYES 2.00 X 0 0 0 GAIER N PALMISANO 3.00 X 0 0 0 CYNTHIA B QUEALY 1.00 X 0 0 0 S GREGG RENFREW 1.00 X 0 0 0 ADAM ROHDIE 1.00 X 0 0 0 KATRINA W RYAN 1.00 X 0 0 0 BARBARA B SEDORIC 1.00 X 0 0 0 CYNTHIA M TAYLOR 2.00 X 0 0 0 ANITA B WEEKS 5.00 X 0 0 0 CATHERINE W WELLES 1.00 X 0 0 0 NANCY W WHEELER 3.00 X 0 0 0 KATHERINE G WINDSOR 40.00 X X 278921 0 113062 JOHN C WILCOX 1.00 X 0 0 0 ARIEL M ZWANG 2.00 X 0 0 0 MICHAEL BERGIN 40.00 X 178807 0 61499 JULIA MCCORMACK 40.00 X 186048 0 42375 LAURA DANFORTH 40.00 X 167095 0 28622 MELANIE JOSEPH 40.00 X 100467 0 10428 911338 0 255986 5 0 1 0 CONTEMPO RESTORATION LLC 163 LARKSPUR LANE BRISTOL CT 06010 CONSTRUCTION 290255 CAMBRIDGE ASSOCIATES LLC PO BOX 10317 UNIONDALE NY 115550317 FINANCIAL CONSULTANTS 200000 MADSEN PRESTLEY & PARENTEAU LLC 44 CAPITOL AVE SUITE 201 HARTFORD CT 06106 LEGAL SERVICES 133000 3 24979 4045637 907672 4070616 TUITION/BOARD 611110 13790957 13790957 SUMMER PROGRAMS 611110 112022 112022 STUDENT SERVICES INCOM 611110 87559 87559 13990538 904870 904870 48741190 883638 49551815 884772 -810625 -1134 -811759 -811759 0 24979 0 0 92401 100638 -8237 -8237 DAYCARE CENTER 624410 183290 183290 FACILITIES RENTAL 531120 123623 98574 25049 OTHER INVESTMENT INCOM 523000 33924 33924 340837 18486865 13990538 132498 293213 3711434 3711434 1051939 484140 349346 218453 6874651 5010158 1300326 564167 653350 477981 123766 51603 1320346 762706 459948 97692 535614 373257 109189 53168 660282 660282 71190 71190 77065 77065 358773 358773 43171 15614 18593 8964 1102872 737659 167478 197735 207174 136838 68319 2017 1660072 1444263 215809 161784 67284 68810 25690 64635 50191 11439 3005 833607 833607 1797652 1563957 233695 CONTRACT SERVICES 825218 574906 183334 66978 SPECIAL EVENTS 740320 608953 82039 49328 MEMBERSHIP DUES 53354 33037 16132 4185 ROF EXPENSES 27852 26965 887 0 COST OF ISSUANCE 8281 8281 962 315 647 22841598 16739940 4758673 1342985 6611992 5212752 1654062 654791 6677763 6091904 141372 123993 142980 24487 66183 65032 770833 660590 54145585 24085476 30959408 30060109 58306465 65458904 21104723 32145939 424730 809624 126860511 141308125 1005623 1227931 2739330 3292174 18555338 18538979 75466 83678 119396 122862 22495153 23265624 X 23533179 26201035 22587275 32376257 58244904 59465209 104365358 118042501 126860511 141308125 X -4354733 18031876 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 85038679 2520609 18122573 574199 4726255 507746 99873661 78075823 3819530 8711623 1286220 3927968 354109 85038679 104383947 3599381 -24283361 174247 5005493 444404 78075823 0.14340 0.57050 0.28610 0 0 916605 916605 46535779 18981566 27554213 6418735 5103910 1314825 274466 274466 30060109 ALTERNATIVE INVESTMENTS 32145939 F 32145939 POOLED INCOME/STUDENT ACTIVITY FUND 122862 122862 18486865 22841598 -4354733 18027595 4281 18031876 13677143 32546025 18027595 -4070207 13957388 18588637 -101772 -101772 18486865 18868882 97491 97491 18771391 358773 3711434 4070207 22841598 PART IV, LINE 2B: SECURITY DEPOSITS FOR HOUSING AND DORMS HELD IN ESCROW ACCOUNT DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: TO SUPPORT THE MISSION OF THE SCHOOL. PART XI, LINE 8 - OTHER ADJUSTMENTS: STOCK VALUE DIFFERENCE BETWEEN SOLD & GIFT VALUE 1,134. BAD DEBT NETTED WITH REVENUE INTEREST & DIVIDENDS 3,147. PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -3,711,434. INVESTMENT EXPENSES -358,773. PART XII, LINE 4B - OTHER ADJUSTMENTS: BOOKSTORE COST OF GOODS SOLD -100,638. STOCK VALUE DIFFERENCE BETWEEN SOLD AND GIFT VALUE -1,134. PART XIII, LINE 2D - OTHER ADJUSTMENTS: BOOKSTORE COST OF GOODS SOLD 100,638. BAD DEBT NETTED WITH REVENUE INTEREST AND DIVIDENDS -3,147. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 3,711,434. 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 MISS PORTER'S SCHOOL IS COMMITTED TO DIVERSITY IN ITS STUDENT BODY AND ADMITS QUALIFIED STUDENTS WITHOUT REGARD TO RACE, COLOR, NATIONAL ORIGIN, ANCESTRY, DISABILITY, SEXUAL ORIENTATION, OR ANY OTHER CLASS PROTECTED BY RELEVANT LAW. CENTRAL AMERICA & CARIBBEAN 0 0 PROGRAM SERVICES RECRUITING & ART PROGRAM 4588 EAST ASIA & PACIFIC 0 0 PROGRAM SERVICES RECRUITING -713 EUROPE 0 0 PROGRAM SERVICES RECRUITING & MODEL U.N. 5710 EUROPE 0 0 FUNDRAISING 5587 SOUTH AMERICA 0 0 PROGRAM SERVICES RECRUITING & MODEL U.N. 15194 CENTRAL AMERICA & CARIBBEAN 0 0 INVESTMENTS 1445288 NORTH AMERICA 0 0 INVESTMENTS 1040499 NORTH AMERICA 0 0 PROGRAM SERVICES RECRUITING 2360 0 0 0 0 0 0 2518513 0 2518513 1 0 0 1 1 0 METHOD USED TO ACCCOUNT FOR EXPENDITURES: SCHEDULE F, PART I, LINE 3: ACCRUAL SR. AUCTION 24979 24979 24979 24979 1 SCHOLARSHIPS FOR STUDENTS ATTENDING MISS PORTER'S 129 0 3620210 FMV REDUCTION IN TUITION TEXTBOOKS 12 6088 0 FMV MEDICAL INSURANCE PREMIUMS AND MEDICAL EXPENSES 3 4230 0 FMV TRAVEL AND REQUIRED TRIPS 77 16511 0 FMV CASH ASSISTANCE AND SCHOOL EXPENSES 36 64395 0 FMV PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: SCHOLARSHIPS ARE POSTED TO STUDENTS ACCOUNTS WHICH ARE REFLECTED IN THE GENERAL LEDGER. X X X X X 1 1 X X X X X 0 1 0 0 0 0 0 0 1 1 KATHERINE G WINDSOR 223025 0 0 0 55896 0 67853 0 45209 0 391983 0 0 0 MICHAEL BERGIN 177402 0 0 0 1405 0 21090 0 40409 0 240306 0 0 0 JULIA MCCORMACK 189570 0 0 0 -3522 0 22903 0 19472 0 228423 0 0 0 LAURA DANFORTH 167064 0 0 0 31 0 19550 0 9072 0 195717 0 0 0 PART I, LINE 1A TRAVEL FOR RELATIVE WHILE ATTENDING CONFERENCE. GROSS-UP IS PROVIDED FOR EDUCATION BENEFITS. CERTAIN EMPLOYEES ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. PART OF EMPLOYMENT CONTRACT INCLUDES MEMBERSHIP TO A COUNTRY CLUB AND HOUSECLEANING SERVICES. PART I, LINE 4B THE HEAD OF SCHOOL PARTICIPATES IN A 457(F) PLAN. PART I, LINE 8 THE CURRENT HEAD OF SCHOOL ENTERED INTO AN INITIAL 5-YEAR CONTRACT WITH MISS PORTER'S SCHOOL DURING THE 2008-2009 YEAR. STATE OF CT HEALTH & EDUCATIONAL FACILITIES AUTH 060806186 20774UDL6 2006-06-12 18620775 REFUND 8/15/99 BOND ISSUE AND CONSTRUCTION OF ATHLETIC FACILITY 0 0 0 18620775 301721 321170 9246874 9246874 2008 0 1 1 1 0 0 0 0 1 0.01820 0.01620 0.03440 1 0 0 0 0 0 0 KATHERINE WINDSOR X 2351 490 0 1 1 MELANIE JOSEPH X 1252 722 0 1 1 1212 X 10 0 X 0 X 0 X 64 886424 FMV AT TIME OF TRANSFER X 4 0 X ATHENA HARP 1 21248 FMV X VARIOUS AUCTION ITEMS 20 0 1 0 1 1 THIRD PARTY USE: PART I, LINE 32B: MERRILL LYNCH IS USED AS A BROKER TO SETTLE ALL STOCK CONTRIBUTIONS. NON REPORTING OF REVENUE: PART I, LINE 33: PART I LINE 1 - VARIOUS ART DONATIONS FOR AUCTION, SCULPTURE, PHOTOGRAPHS, CUSTOM GLAZED BOWL, ETC. PART I LINE 4 - DONATED BOOKS VALUED UNDER $5,000 NOT RECORDED ON BOOKS PART 1 LINE 5 - CUCKOO CLOCK, BICYCLE, TOTE BAGS, CLOTHING PART I LINE 9 - MERRILL LYNCH IS USED AS A BROKER TO SETTLE ALL STOCK CONTRIBUTIONS. PART I LINE 18 - MISS PORTER'S SCHOOL RINGS, ONASSIS LETTERS FROM 1947 PART I LINE 26 - VARIOUS AUCTION ITEMS FORM 990, PART VI, SECTION A, LINE 2 J. MICHAEL MCQUADE AND SHARON MCQUADE ARE TRUSTEES RELATED BY MARRIAGE. FORM 990, PART VI, SECTION B, LINE 11 THE 990 IS PREPARED WITH EXTENSIVE REVIEW FROM INTERNAL BUSINESS OFFICE STAFF AND SENIOR MANAGEMENT. THE FORM 990 IS PROVIDED TO OUR AUDITOR FOR REVIEW, EDITS ARE MADE, AND IT IS THEN REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD, PER THE AUDIT COMMITTEE'S CHARTER. ALL TRUSTEES ARE PROVIDED COPIES (EXCLUDING SCHEDULE B) FOR FINAL REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE ASSISTANT TO THE HEAD OF SCHOOL DISTRIBUTES THE CONFLICT OF INTEREST POLICY TO EACH TRUSTEE AND KEY EMPLOYEE DURING THE OCTOBER TRUSTEE MEETING. PRIOR TO THE END OF THE MEETING, THE SIGNED POLICIES ARE COLLECTED BY THE ASSISTANT TO THE HEAD, AND SHE FOLLOWS UP DIRECTLY WITH ANY TRUSTEES OR KEY EMPLOYEES WHO WERE NOT IN ATTENDANCE TO ENSURE A SIGNED POLICY IS RECEIVED. ONCE ALL HAVE BEEN RECEIVED THEY ARE REVIEWED BY THE ASSOCIATE BUSINESS MANAGER AND ANY CONFLICTS ARE PRESENTED TO THE AUDIT COMMITTEE CHAIR FOR FOLLOW UP. ONCE THE REVIEW IS COMPLETE, THE FORMS ARE FILED IN THE BUSINESS OFFICE. DURING COMMITTEE MEETINGS TRUSTEES MUST ANNOUNCE IF A CONFLICT ARISES REGARDING THE SUBJECT BEING DISCUSSED. THEY CAN STATE THE CONFLICT AND CHOOSE TO RECUSE THEMSELVES FROM FURTHER CONVERSATION AND VOTING ON THE SUBJECT MATTER. FORM 990, PART VI, SECTION B, LINE 15 A THREE PERSON SUBCOMMITTEE OF THE BOARD HAS BEEN FORMED TO PROVIDE OVERSIGHT AROUND THE HEAD OF SCHOOL'S COMPENSATION AND BENEFITS. THIS SUBCOMMITTEE INCLUDES THE PRESIDENT OF THE BOARD, VICE CHAIR, AND CHAIR OF THE AUDIT COMMITTEE. THE SUBCOMMITTEE UTILIZES COMPARATIVE COMPENSATION DATA FROM THE FORTY MEMBERS OF THE ASSOCIATION OF BUSINESS OFFICERS OF PREPARATORY SCHOOLS, WITH A PARTICULAR EMPHASIS ON A SUBSET OF PEER SCHOOLS. THE PEER SCHOOL GROUP REFLECTS BOTH GEOGRAPHIC PEERS AS WELL AS SIMLARLY SIZED AND ENDOWED SCHOOLS. THE SUBCOMMITTEE CONDUCTS A THOROUGH PERFORMANCE REVIEW ON AN ANNUAL BASIS WITH AN EMPHASIS ON THE ATTAINMENT OF PERFORMANCE GOALS AND OBJECTIVES ESTABLISHED BY THE BOARD. THE HEAD OF SCHOOL APPROVES ALL SALARY INCREASES FOR HER SENIOR STAFF. THESE INCREASES ARE ALSO BASED UPON REVIEW OF POSITION DATA FROM ABOPS AS DESCRIBED ABOVE. ONCE DETERMINED, A ONE OVER ONE REVIEW BY A MEMBER OF THE COMPENSATION SUBCOMMITTEE TAKES PLACE FOR FINAL APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 ALL OF THE SCHOOL'S GOVERNING DOCUMENTS, THEIR CONFLICT OF INTEREST POLICY AND THE SCHOOL'S FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE BUSINESS OFFICE OVERSEES THE DISTRIBUTION OF REQUESTED DOCUMENTS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 18,027,595. STOCK VALUE DIFFERENCE BETWEEN BETWEEN SOLD & GIFT VALUE 1,134. BAD DEBT AMOUNT NETTED WITH REVENUE INTEREST & DIVIDENDS 3,147. TOTAL TO FORM 990, PART XI, LINE 5: 18,031,876.