2012-05-02T07:19:34-05:00 2011-06-30 MCGLADREY LLP 80 CITY SQUARE BOSTON MA 021293742 990 2010-07-01 042104064 THE FENN SCHOOL FENN 9783695800 516 MONUMENT STREET CONCORD MA 01742 DAVID A PLATT 9783183524 2012-05-02 1 LYNNE JOHNSON 6179129000 2010 2016-02-24 21:20:13Z GERARD J G WARD 516 MONUMENT STREET CONCORD MA 01742 23221735 0 X WWW.FENN.ORG X 1929 MA THE FENN SCHOOL IS AN ACCREDITED INDEPENDENT DAY SCHOOL FOR APPROXIMATELY 300 BOYS IN GRADES 4 THROUGH 9. THE MAIN OBJECTIVE OF THE SCHOOL IS TO PROVIDE A SOLID, BALANCED CURRICULUM FOR ELEMENTARY AND MIDDLE SCHOOL AGE BOYS, WITH EMPHASIS ON ACADEMICS, ARTS, AND ATHLETICS. THROUGH COORDINATED COURSES THAT INTEGRATE ACROSS DISCIPLINES, THE SCHOOL PREPARES STUDENTS FOR RIGOROUS SECONDARY SCHOOL WORK AND ACADEMIC ACHIEVEMENT. 26 25 228 300 0 0 2430198 8149719 10543718 11250747 387005 785312 103741 133885 13464662 20319663 1011627 1153616 0 0 7850222 8148634 60249 52227 773556 3857078 4037473 12779176 13391950 685486 6927713 38157418 47947131 9816246 9888165 28341172 38058966 X THE FENN SCHOOL SEEKS TO PREPARE BOYS FOR A LIFETIME OF LEARNING, LEADERSHIP, AND INTEGRITY BY OFFERING A BROAD AND CHALLENGING EDUCATIONAL PROGRAM IN A PERSONAL COMMUNITY THAT HONORS DIVERSITY. INSPIRED BY THE IDEALS OF HONESTY, RESPECT, EMPATHY, COURAGE, AND GUIDED BY THE MOTTO, SUA SPONTE, EACH BOY IS CHALLENGED TO ACCEPT RESPONSIBILITY FOR HIMSELF, FOR HIS OWN EDUCATION, AND FOR THE WELL-BEING OF OTHERS 0 0 4437089 576808 4985359 ACADEMIC PROGRAM - THE SCHOOL IS AN ACCREDITED EDUCATIONAL INSTITUTION FOR APPROXIMATELY 300 BOYS, GRADES 4 THROUGH 9. THE SCHOOL PROVIDES A SOLID CURRICULUM IN ENGLISH, SCIENCE, SOCIAL STUDIES, MATHEMATICS, AND LANGUAGES (LATIN AND SPANISH). MATHEMATICS AND LANGUAGE CURRICULA ALLOW FOR STANDARD-LEVEL AS WELL AS ADVANCED-LEVEL LEARNING, DEPENDING ON THE STUDENT'S ABILITIES. THE ENTIRE ACADEMIC PROGRAM IS AN UPWARD PROGRESSION TOWARD SOPHISTICATED COGNITIVE REASONING AND INTELLECTUAL CHALLENGES TO PREPARE BOYS FOR SECONDARY SCHOOL EDUCATION. 2218544 288404 2492680 ATHLETICS PROGRAM - THIS PROGRAM PROMOTES ATHLETIC COMPETENCE, CONFIDENCE, AND ENJOYMENT FOR STUDENTS OF VARYING ATHLETIC ABILITIES AND INTERESTS. IT STRESSES LEARNING AND PRACTICING INDIVIDUAL AND TEAM SKILLS, AND IT OFFERS A VARIETY OF INDIVIDUAL AND TEAM ACTIVITIES WITH VARIOUS LEVELS OF COMPETITION. AT ALL LEVELS GOOD SPORTSMANSHIP IS EMPHASIZED AS THE PRIMARY LESSON TO BE LEARNED FROM A WELL ORGANIZED ATHLETIC PROGRAM. SPORTS OPTIONS, DEPENDING ON GRADE, INCLUDE SOCCER, FOOTBALL, CROSS COUNTRY, TRACK, BASKETBALL, WRESTLING, ICE HOCKEY, TENNIS, AND ALSO ALLOWS FOR SPORTS ALTERNATIVE WITH PARENTAL/SCHOOL APPROVAL. 2218544 288404 2492680 ARTS PROGRAM - BEGINNING IN GRADE 4, THE STUDENTS ARE INTRODUCED TO A SIX-YEAR SEQUENTIAL CURRICULUM IN THE ARTS BEGINNING WITH STUDIO ART, DRAMA, MUSIC AND WOOD SHOP. AS THE STUDENT PROGRESSES THROUGH EACH GRADE OTHER ARTS PROGRAM OFFERINGS BECOME AVAILABLE, SUCH AS CERAMICS AND PHOTOGRAPHY. IN GRADES 8 AND 9, STUDENTS MAY SELECT FROM A BROAD ARRAY OF COURSES MENTIONED PLUS OTHERS SUCH AS PAINTING, CARTOONING, THEATER TECH, VIDEO PRODUCTION, STEEL DRUMS, GUITAR AND RHYTHM ENSEMBLE. STUDENTS ARE REQUIRED TO COMPLETE THREE ART REQUIREMENTS FOR GRADUATION: ONE EACH IN FINE ARTS, DRAMATIC ARTS AND MUSICAL ARTS. 1056671 1310537 SUMMER FENN DAY CAMP FOR BOYS AND GIRLS (AGE 5-15) 1056671 1310537 9930848 1 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 29 0 1 228 1 0 0 0 0 0 1 1 0 0 0 0 X 26 25 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 1 1 1 0 0 MA X DAVID A PLATT DIRECTOR OF FINANCE & OPERATIONS 9783183524 516 MONUMENT STREET CONCORD MA 01742 ASH ASHUTOSH 5.00 X 0 0 0 CHARLES E CROWLEY 5.00 X 0 0 0 CLIFFORD E MOSKOW 5.00 X 0 0 0 GERARD JG WARD 60.00 X X 288447 0 126042 JEFFREY W ADAMS 5.00 X 0 0 0 JULIA KRAPF 5.00 X 0 0 0 KENNETH ANDERSON 5.00 X 0 0 0 KEVIN R PARKE 5.00 X X 0 0 0 LAURA REYNOLDS 5.00 X 0 0 0 MARCI J BERKLEY 5.00 X 0 0 0 MARK T THOMAS 5.00 X 0 0 0 MARY WREN VANDERWILDEN 5.00 X 0 0 0 MICHAEL J MARCHESE 5.00 X X 0 0 0 NANCY I BEAULIEU 5.00 X X 0 0 0 PAMELA T BOLL 5.00 X 0 0 0 PETER M NICHOLAS JR 5.00 X 0 0 0 R VINCENT LYNCH 5.00 X 0 0 0 RAYMOND J JOUMAS 5.00 X X 0 0 0 RICHARD F CONNELLY JR 5.00 X 0 0 0 ROBERT EWING 5.00 X 0 0 0 ROBERT T JONES 5.00 X 0 0 0 STEPHEN M WILKINS 5.00 X 0 0 0 STEVEN L STONE 5.00 X 0 0 0 STEVEN M KAYE 5.00 X 0 0 0 THERESA O HOEY 5.00 X 0 0 0 TIM CONWAY 5.00 X 0 0 0 DAVID A PLATT 40.00 X 129083 0 27542 DEREK R BOONISAR 40.00 X 117669 0 27971 STEPHEN A FARLEY 40.00 X 101568 0 27247 THOMAS HUDNER III 40.00 X 117626 0 23849 754393 0 232651 5 0 1 0 ERLAND CONSTRUCTION 83 SECOND AVENUE BURLINGTON MA 01803 CONSTRUCTION 1001322 IMAI KELLER MOORE ARCHITECTS 70 PHILLIPS STREET WATERTOWN MA 02472 ARCHITECT 546456 SODEXO INC PO BOX 360170 PITTSBURGH PA 15251 FOOD SERVICE 370007 MINTZ LEVIN COHN FERRIS GLOVSKY AND PO BOX 4539 BOSTON MA 02111 LEGAL 163156 BROWN BROTHERS HARRIMAN & CO 40 WATER STREET BOSTON MA 02109 BANKING 155000 10 8149719 280908 8149719 SCHOOL TUITION 611600 9940210 9940210 SUMMER CAMP PROGRAM 611710 1310537 1310537 11250747 425497 425497 27085 27085 27085 27085 3126017 2766202 359815 359815 359815 146543 101653 44890 44890 39208 34217 4991 4991 TUITION REFUND INSURAN 900099 27234 27234 EXTENDED AFTER CARE 611710 26411 26411 STUDENT ACTIVITIES 900099 2386 2386 888 888 56919 20319663 11281255 0 888689 1153616 1153616 754423 334646 267537 152240 5697577 4041748 1453840 201989 320167 209601 89382 21184 912011 551448 281775 78788 464456 325910 111999 26547 13713 13713 63592 63592 52227 52227 53248 53248 111687 67532 17645 26510 101642 101642 723077 514259 106966 101852 179955 112427 51028 16500 2327 2327 655328 602902 32766 19660 105318 89926 11147 4245 25544 11848 11335 2361 175481 161443 8774 5264 846303 780631 41045 24627 88531 88531 FOOD SERVICE, EVENTS, R 415105 385697 26466 2942 PARENTS' ASSOCIATION 184454 184454 STUDENT ACTIVITIES 113531 113531 FACULTY/STAFF PROFESSIO 87886 81638 4280 1968 MEMBERSHIPS, DUES, SUBS 34643 8333 24652 1658 56108 6758 16356 32994 13391950 9930848 2687546 773556 3260851 5465302 130258 280409 1281520 2560484 71884 92453 347650 378972 23195411 9048093 14569383 14147318 15135894 18258224 1373000 1986978 6763969 38157418 47947131 1332582 1253404 4455017 4626746 3821528 3821528 207119 186487 9816246 9888165 X 17353231 24008653 5449010 8634326 5538931 5415987 28341172 38058966 38157418 47947131 X 6927713 2790081 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14539949 24525 3148903 612000 147469 16953908 13234816 17655 1972478 685000 14539949 15118735 193610 -1561429 516100 13234816 0.39850 0.31950 0.28200 0 0 2624281 2624281 15044875 4959066 10085809 3202027 3138099 63928 2324228 950928 1373300 14147318 BOND ACQUISITION FEES, NET OF ACCUMULATED AMORTIZATION 121262 CONSTRUCTION IN PROGRESS 6602200 SECURITY DEPOSITS 40507 6763969 INTEREST RATE SWAP AGREEMENT 186487 186487 20319663 13391950 6927713 2916918 -126837 2790081 9717794 22091998 2916918 -1280453 1636465 20455533 -135870 -135870 20319663 12374204 135870 135870 12238334 1153616 1153616 13391950 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE INTENDED USES OF THE SCHOOL'S ENDOWMENT FUNDS ARE FOR FACULTY SALARIES AND MERIT INCREASES, FACULTY ENRICHMENT, FACULTY/STAFF TRAVEL GRANTS, FINANCIAL AID, SCHOLARSHIPS, PHILANTHROPY FUND, FOUNDERS FUND FOR EDUCATION INNOVATION, MULVANY CENTER, SUPPORT FOR FACULTY/STAFF CHILDREN ATTENDING THE FENN SCHOOL. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SCHOOL IS QUALIFIED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. THE SCHOOL IS SUBJECT TO FEDERAL AND STATE INCOMES TAXES ON UNRELATED BUSINESS INCOME. THE SCHOOL FOLLOWS THE FASB GUIDANCE, ACCOUNTING FOR UNDERTAINTY IN INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES BY PRESCRIBING THE RECOGNITION THRESHOLD A TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. MANAGEMENT BELIEVES THAT THE SCHOOL HAS NO MATERIAL UNCERTAINTIES IN INCOMES TAXES. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR FISCAL YEARS BEFORE 2008. PART XI, LINE 8 - OTHER ADJUSTMENTS: GAIN ON INTEREST RATE SWAP AGREEMENT 20,632. LOSS ON PLEDGE ACTIVITY -147,469. PART XII, LINE 2D - OTHER ADJUSTMENTS: GAIN ON INTEREST RATE SWAP AGREEMENT 20,632. LOSS ON PLEDGE ACTIVITY -147,469. FINANCIAL AID NETTED AGAINST TUITION INCOME ON FINANCIAL STATEMENTS -1,153,616. PART XII, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE REPORTED ON FORM 990, PART VIII, LINE 8B -101,653. COST OF GOODS SOLD REPORTED ON FORM 990, PART VIII, LINE 10B -34,217. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE REPORTED ON FORM 990, PART VIII, LINE 8B 101,653. COST OF GOODS SOLD REPORTED ON FORM 990, PART VIII, LINE 10B 34,217. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST TUITION INCOME ON FINANCIAL STATEMENTS 1,153,616. 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 ADVERTISEMENTS IN COMMUNITY NEWSPAPERS AND CATALOGUES X X X X 1 MARTS & LUNDY 15 OLDE LYME ROAD WINCHESTER MA 01890 DATA ANALYSIS AND CONSULTATION 0 0 52227 0 52227 MA BIENNIAL AUCTION 130879 130879 7361 84505 SPORTS SALE 15664 15664 9787 146543 146543 7361 94292 101653 44890 1 TUITION REMISSION 9 265755 FAIR MARKET VALUE REDUCTION IN TUITION TUITION FINANCIAL AID 42 800223 FAIR MARKET VALUE REDUCTION IN TUITION STUDENT FEES FINANCIAL AID 51 87638 FAIR MARKET VALUE REDUCTION IN FEES CHARGED PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANTS FOR FINANCIAL AID ARE NEED-BASED AND AWARDED BY THE FINANCIAL AID COMMITTEE AS DETERMINED BY FINANCIAL DISCLOSURE INFORMATION PROVIDED BY THE FAMILY OF THE RECIPIENT. X X 1 1 X X 0 1 0 0 0 0 0 0 0 GERARD JG WARD 276553 0 0 0 11894 0 78886 0 47156 0 414489 0 0 0 DAVID A PLATT 128940 0 0 0 143 0 7591 0 19951 0 156625 0 0 0 PART I, LINE 1A THE SCHOOL PROVIDES A RESIDENCE FOR PERSONAL USE AND AN ALLOWANCE FOR SOCIAL CLUB TO THE HEADMASTER. PART I, LINE 4B EFFECTIVE JULY 1, 2009, THE SCHOOL ENTERED INTO A NEW THREE-YEAR EMPLOYMENT CONTRACT WITH A KEY EMPLOYEE. UPON EXPIRATION OF THE INITIAL THREE-YEAR TERM, THE AGREEMENT WILL AUTOMATICALLY RENEW FROM YEAR TO YEAR, UNLESS OTHERWISE TERMINATED UNDER THE PROVISIONS OF THE CONTRACT. THIS AGREEMENT ALSO AUTHORIZES THE ESTABLISHMENT OF A NON-QUALIFIED 457(F) DEFERRED COMPENSATION PLAN (THE "PLAN") FOR THE BENEFIT OF THE EMPLOYEE. THE PLAN REQUIRES THE SCHOOL TO CREDIT $60,000 A YEAR PLUS AN INCREASE DESIGNATED BY THE BOARD FOR THAT YEAR'S ANNUAL SALARY ADJUSTMENT PLUS AN INVESTMENT RETURN TO THE EMPLOYEE'S ACCOUNT FOR EACH YEAR OF THE CONTRACT. UNDER THE TERMS OF THE PLAN THE FUNDS WILL NOT VEST UNTIL JUNE 30, 2012. CONTRIBUTIONS PLUS ACCRUED INTEREST ON THE PLAN TOTALING $121,981 ARE INCLUDED IN ACCRUED EXPENSES AT JUNE 30, 2011. THE EMPLOYMENT AGREEMENT ALSO OUTLINES CERTAIN SALARY, FRINGE BENEFITS AND NOTICE REQUIREMENTS. MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 2008-09-25 12000000 CAMPUS IMPROVEMENT 0 0 0 8178472 12000000 2600272 140614 9259114 2013 1 0 0 0 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 1 0 BROWN BROTHERS HARRIMAN & CO 10.000000000000 0 0 0 X 500 FAIR MARKET VALUE X 13 210392 FAIR MARKET VALUE X FUNDRAISING RECEPTION 1 3219 FAIR MARKET VALUE X AUCTION ITEMS 164 66797 FAIR MARKET VALUE 0 1 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. FORM 990, PART VI, SECTION A, LINE 8B EACH COMMITTEE COMTEMPORANEOUSLY DOCUMENTS THE MEETINGS HELD OR WRITTEN ACTIONS UNDERTAKEN DURING THE YEAR. HOWEVER, NONE OF THE COMMITTEES HAVE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 PRIOR TO ITS SUBMISSION TO THE IRS, THE FORM 990 IS REVIEWED BY A COMMITTEE WHICH CONSISTS OF MEMBERS OF THE AUDIT COMMITTEE, AS WELL AS THE CHAIR, VICE-CHAIR, AND TREASURER OF THE BOARD. IN ADDITION, A PUBLIC DISCLOSURE COPY OF THE FORM 990 IS PROVIDED TO THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C ALL TRUSTEES SHALL COMPLETE A CONFLICT OF INTEREST FORM ANNUALLY. NO TRUSTEE, COMMITTEE MEMBER, OFFICER OR EMPLOYEE SHALL ENGAGE IN ANY ACTION OR ACTIVITY, ACTING ON BEHALF OF THE CORPORATION, WHICH ALSO RESULTS IN A GAIN OR ADVANTAGE TO THAT INDIVIDUAL OR TO A MEMBER OF HIS OR HER IMMEDIATE FAMILY OR A BUSINESS ORGANIZATION IN WHICH SUCH PERSON HAS A SIGNIFICANT INTEREST SUCH THAT SUCH INDIVIDUAL MAY BE DEEMED TO HAVE AN "INTEREST" IN THE TRANSACTION (HEREINAFTER, AN "INTERESTED PERSON"), WITHOUT COMPLIANCE WITH SUCH APPROPRIATE REQUIREMENTS WITH RESPECT TO DISCLOSURE AS THE BOARD OF TRUSTEES OF THE CORPORATION MAY ESTABLISH FROM TIME TO TIME. IN ADDITION, NO PERSON WHO MAY BE DEEMED INTERESTED IN ANY MATTER BASED ON HIS OR HER CAPACITY AS TRUSTEE, COMMITTEE MEMBER, OFFICER OR EMPLOYEE SHALL VOTE OR USE HIS OR HER PERSONAL INFLUENCE ON THE MATTER, AND HE OR SHE SHOULD NOT BE COUNTED IN DETERMINING THE QUORUM FOR THE APPLICABLE MEETING, EVEN WHERE PERMITTED BY LAW. THE MINUTES OF THE MEETING SHALL REFLECT THE ABSTENTION BY SUCH INTERESTED PERSON(S) FROM VOTING, THE QUORUM COUNT, AND THAT A DISCLOSURE OF SUCH POTENTIAL CONFLICT OF INTEREST WAS MADE AT THE MEETING OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15A THE HEADMASTER'S THREE YEAR CONTRACT IS REVIEWED BY THE OFFICERS OF THE BOARD - CHAIR, VICE CHAIR, SECRETARY AND TREASURER. THIS GROUP ALSO REVIEWS COMPENSATION ANNUALLY. ON A REGULAR BASIS (LAST TIME, IN 2010) WE BENCHMARK THE HEADMASTER'S COMPENSATION (CASH AND BENEFITS) AGAINST OTHER EQUIVALENT HEADMASTERS. FOR THIS REVIEW WE USE AN OUTSIDE CONSULTANT. 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. 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 5: NET UNREALIZED GAINS ON INVESTMENTS: 2,916,918. GAIN ON INTEREST RATE SWAP AGREEMENT 20,632. LOSS ON PLEDGE ACTIVITY -147,469. TOTAL TO FORM 990, PART XI, LINE 5: 2,790,081. ESTIMATION OF VOLUNTEERS: FORM 990, PART I, LINE 6 THE ESTIMATE INCLUDES PARENT AND ALUMNI VOLUNTEERS FOR LIBRARY, DRAMA PROGRAM, GRADE LEVEL ACTIVITIES, VOLUNTEERS FOR PARENT ASSOCIATION COMMITTEES, AND ALUMNI VOLUNTEERS FOR ALUMNI EVENTS AND REUNIONS.