2024-05-02T15:17:55-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN 29 SOUTH MAIN STREET 4TH FLOOR WEST HARTFORD CT 06107 990 2022-07-01 060646921 THE TAFT SCHOOL CORPORATION TAFT 8609457777 110 WOODBURY RD WATERTOWN CT 06795 JOHN H ODDEN ASS'T TREASURER/ASS'T SECRETARY 8609457777 2024-05-01 1 JOHN ODDEN 999009999 0 JOHN TOSCANO P00358542 8605614000 2024-04-30 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z JOHN H ODDEN 110 WOODBURY RD WATERTOWN CT 06795 116633668 0 X WWW.TAFTSCHOOL.ORG X 1930 CT THE MISSION OF THE SCHOOL IS TO EDUCATE THE WHOLE STUDENT. 31 31 369 31 210584 0 18432688 23719000 38623000 41478107 25843154 6938100 626482 520082 83525324 72655289 10361928 10851260 0 0 26874434 28920379 84836 64276 4102389 22016792 24057544 59337990 63893459 24187334 8761830 447949060 466785212 65604017 64668062 382345043 402117150 THE MISSION OF THE SCHOOL IS TO EDUCATE THE WHOLE STUDENT. 0 0 52586007 10851260 41665347 PROVIDE EDUCATION SERVICES AND SUPPORT FOR APPROXIMATELY 600 STUDENTS IN GRADES NINE THROUGH POST-GRADUATE IN A BOARDING AND DAY SETTING. 52586007 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 0 0 0 1 208 0 1 369 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 31 31 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X JOHN H ODDEN 8609457770 110 WOODBURY RD WATERTOWN CT 06795 GRANT A PORTER CHAIR 0.50 X X 0 0 0 SARKIS D IZMIRLIAN VICE CHAIR 0.50 X X 0 0 0 ICY H FRANTZ SECRETARY 0.50 X X 0 0 0 AMISH H MEHTA TREASURER 0.50 X X 0 0 0 JONATHAN D ALBERT TRUSTEE 0.50 X 0 0 0 SUPRIYA BALSEKAR BOOTH TRUSTEE 0.50 X 0 0 0 PETER CBOWDEN TRUSTEE 0.50 X 0 0 0 HENRY G BRAUER TRUSTEE 0.50 X 0 0 0 DIANA SANDS CALVARUSO TRUSTEE 0.50 X 0 0 0 FOSTER CHIANG TRUSTEE 0.50 X 0 0 0 KATAMA GUERNSEY EASTMAN TRUSTEE 0.50 X 0 0 0 J KINGMAN GORDON TRUSTEE 0.50 X 0 0 0 NIKKI MAYHEW GREENE TRUSTEE 0.50 X 0 0 0 MICHAEL M HUMPHREYS TRUSTEE 0.50 X 0 0 0 ERNEST O KWARTENG TRUSTEE 0.50 X 0 0 0 CHARMAINE S LESTER TRUSTEE 0.50 X 0 0 0 MR NAVID A MAHMOODZADEGAN TRUSTEE 0.50 X 0 0 0 AMANDA C MCGOVERN TRUSTEE 0.50 X 0 0 0 PAUL T MCGOWAN TRUSTEE 0.50 X 0 0 0 ANTHONY W PASQUARIELLO TRUSTEE 0.50 X 0 0 0 E MARC PINTO TRUSTEE 0.50 X 0 0 0 JOHN K RIGGINS JR ALUMNI TRUSTEE 0.50 X 0 0 0 JACQUELINE L ROSA TRUSTEE 0.50 X 0 0 0 ROBERT F SAVAGE JR TRUSTEE 0.50 X 0 0 0 KATE GENUNG TAYLOR TRUSTEE 0.50 X 0 0 0 MARGARET FITZGERALD WAGNER TRUSTEE 0.50 X 0 0 0 NANA CHIU TRUSTEE 0.50 X 0 0 0 MRS ROBIN WANG TRUSTEE 0.50 X 0 0 0 ABRA PRENTICE WILKIN TRUSTEE 0.50 X 0 0 0 SCOTT G WILLARD TRUSTEE 0.50 X 0 0 0 JOANNE K ZIESING TRUSTEE 0.50 X 0 0 0 WILLIAM MACMULLEN PRESIDENT/HEAD OF SCHOOL 40.00 X 470840 0 156495 JOHN H ODDEN ASST TREASURER/ASST SECRET 40.00 X 260706 0 137218 ARTHUR L CRIMMINS DIR. OF DEVELOPMENT 40.00 X 267961 0 76674 DIANE FOUNTAS DIR. OF HEALTH CENTER 40.00 X 195564 0 34871 PETER A FREW DIR. OF ADMISSIONS 40.00 X 176909 0 54117 KAITLIN ORFITELLI DIR. OF MARKETING & COMMUN 40.00 X 157041 0 119538 HEIDI LEATHERMAN CONTROLLER 40.00 X 156167 0 28399 EDITH F TRAINA DEAN OF FACULTY 40.00 X 183956 0 106466 1869144 0 713778 38 0 1 0 ARAMARK CORPORATION PO BOX 91337 CHICAGO IL 60693 FOOD SERVICES 4509127 BUSHKA LUMBER & MILLWORK LLC 305 FAIRFIELD AVENUE WATERBURY CT 06708 CONSTRUCTION SERVICES 1366910 O & G INDUSTRIES INC 112 WALL STREET TORRINGTON CT 067905464 ATHLETIC FACILITIES CONTRACTOR 1084652 THE COLONY GROUP LLC ONE BOSTON PLACE 11TH FLOOR BOSTON MA 02108 INVESTMENT MANAGEMENT 949592 INTEGRATION PARTNERS CORPORATION 12 HARTWELL AVENUE LEXINGTON MA 02421 INFORMATION TECHNOLOGY CONTRACTOR 820640 21 23719000 2215585 23719000 STUDENT TUITION 611110 40402480 40402480 PROGRAM FEES 611110 1075627 1075627 41478107 4181436 14422 4167014 3417 0 3417 3417 3417 46349238 43592574 2756664 2756664 2756664 548908 385805 163103 163103 HOCKEY RINK 532000 196162 196162 AUXILIARY INCOME 611110 157400 24137 133263 353562 72655289 41665347 210584 7060358 10851260 10851260 1753762 1400704 353058 163878 163878 18688351 15916068 1180937 1591346 1501563 1324169 79752 97642 5398880 4329274 614745 454861 1413945 1179368 106806 127771 47416 47416 64696 64696 64276 64276 1937493 1937493 5808388 5082942 585331 140115 115034 109190 5575 269 1269478 868867 210847 189764 793490 778466 8546 6478 2541683 2477426 45252 19005 689509 441805 96052 151652 168585 155234 7442 5909 1170732 1141072 20887 8773 5840390 5692426 104201 43763 638627 622448 11394 4785 GENERAL AND INSTITUTION 1013287 336300 676987 DEVELOPMENT 842922 842922 INSTRUCTION 692788 692788 STUDENT SERVICES 344931 344931 78095 78095 63893459 52586007 7205063 4102389 24088727 21057919 9161672 9314100 7904576 7177805 321088 346483 966251 850937 228034110 106596449 121321250 121437661 120543819 135484874 163304868 170762084 336809 353349 447949060 466785212 3094290 2626735 19537506 20198410 37946988 36841935 12254 2221 5012979 4998761 65604017 64668062 X 179857625 182933913 202487418 219183237 382345043 402117150 447949060 466785212 X 8761830 11066799 -56522 X X 0 1 X 1 0 X 9260670 9782774 10561264 18432688 23719000 71756396 9260670 9782774 10561264 18432688 23719000 71756396 6643908 65112488 3953782 4642095 3387527 3943214 4170431 20097049 199461 202220 200552 210584 812817 64200 53605 4476 3412 133263 258956 92925218 191905979 0.70070 0.72210 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 0 0 285460807 17565697 15841818 5261612 7738388 305868322 317757768 9767003 -30863964 4530934 6669066 285460807 255973204 279934 73504630 4294050 7705950 317757768 264656428 1615337 701439 4355688 6644312 255973204 259644515 5578399 10433514 4213609 6786391 264656428 0.32400 0.67600 0.00000 0 0 3033210 3033210 192799454 86963411 105836043 14191580 12394902 1796678 18009866 7238136 10771730 121437661 PRIVATE EQUITIES AND ALTERNATIVE INVESTMENTS 170762084 F 170762084 LIABILITIES UNDER SPLIT-INTEREST AGREEMENTS 4998761 4998761 71262618 11066799 -10521977 544822 70717796 1937493 1937493 72655289 51490511 385805 385805 51104706 1937493 10851260 12788753 63893459 PART III, LINE 1A: THE SCHOOL HAS A COLLECTION OF ARTWORK WHICH IS ON PUBLIC DISPLAY THROUGHOUT ITS CAMPUS BUILDINGS. THE SCHOOL FOLLOWS A POLICY OF NOT CAPITALIZING THE COLLECTION OF ARTWORK IN ITS FINANCIAL STATEMENTS. ACCORDINGLY, NO COLLECTION ITEMS ARE RECOGNIZED AS ASSETS, WHETHER THEY ARE PURCHASED OR RECEIVED AS A CONTRIBUTION. PURCHASES OF COLLECTION ITEMS REDUCE NET ASSETS IN THE PERIOD OF PURCHASE. PROCEEDS FROM SALES OR INSURANCE RECOVERIES ARE RECORDED AS INCREASES IN NET ASSETS WHEN RECEIVED. NO ITEMS WERE PURCHASED FOR OR REMOVED FROM THE COLLECTION IN 2022. PART III, LINE 4: COLLECTIONS ARE COMPRISED OF VARIOUS PAINTINGS AND SCULPTURES THAT ARE ON DISPLAY THROUGHTOUT THE SCHOOL FOR THE CULTURAL ENRICHMENT OF ITS STUDENT BODY. PART V, LINE 4: RESTRICTED ENDOWMENT FUNDS ARE USED IN ACCORDANCE WITH DONOR-IMPOSED STIPULATIONS. UNRESTRICTED ENDOWMENT FUNDS, INCLUDING BOARD DESIGNATED FUNDS, ARE USED IN ACCORDANCE WITH THE SPENDING POLICY APPROVED BY THE BOARD OF TRUSTEES. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 385,805. CHANGE IN VALUE OF TRUSTS -56,522. FINANCIAL AID -10,851,260. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 385,805. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 10,851,260. 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 PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY ON ITS HOMEPAGE. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 1476705 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 70179526 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 INVESTMENTS 2874392 0 0 0 0 0 0 74530623 0 74530623 1 0 0 1 1 0 PART I, LINE 3: THE LISTED INVESTMENTS RELATE TO HOLDINGS IN THE SCHOOL'S ENDOWMENT FUND. PART III ACCOUNTING METHOD: X X X X X 1 SPENCER GROUP INC 130 S WILLARD STREET BURLINGTON VT 05401 CONSULTING 0 0 44876 0 PENTERA INC 8650 COMMERCE PARK PLACE STE G INDIANAPOLIS IN 04626 CONSULTING 0 0 16400 0 RONALD A JOYCE 309 OAKWOOD DRIVE YARMOUTH ME 04096 PRE-CAMPAIGN CONSULTING 0 0 3000 0 64276 CT 1 STUDENT FINANCIAL AID 199 0 10851260 FMV TUITION AND FEES ASSISTANCE PART I, LINE 2: ALL FINANCIAL AID RECIPIENTS ARE REQUIRED TO COMPLETE A FINANCIAL AID STATEMENT AND PROVIDE THE NECESSARY SUPPORTING DOCUMENTATION. X X 1 1 X X X 0 1 0 0 0 0 0 0 0 WILLIAM MACMULLEN PRESIDENT/HEAD OF SCHOOL 455803 0 0 0 15037 0 81100 0 75395 0 627335 0 0 0 JOHN H ODDEN ASST TREASURER/ASST SECRET 260706 0 0 0 0 0 19547 0 117671 0 397924 0 0 0 ARTHUR L CRIMMINS DIR. OF DEVELOPMENT 267286 0 0 0 675 0 22156 0 54518 0 344635 0 0 0 EDITH F TRAINA DEAN OF FACULTY 183956 0 0 0 0 0 15087 0 91379 0 290422 0 0 0 KAITLIN ORFITELLI DIR. OF MARKETING & COMMUN 157041 0 0 0 0 0 13287 0 106251 0 276579 0 0 0 PETER A FREW DIR. OF ADMISSIONS 176909 0 0 0 0 0 21675 0 32442 0 231026 0 0 0 DIANE FOUNTAS DIR. OF HEALTH CENTER 195564 0 0 0 0 0 17667 0 17204 0 230435 0 0 0 HEIDI LEATHERMAN CONTROLLER 156167 0 0 0 0 0 12731 0 15668 0 184566 0 0 0 PART I, LINE 1A THE SCHOOL OPERATES AS A BOARDING SCHOOL WITH APPROXIMATELY 500 STUDENTS RESIDING ON CAMPUS. ACCORDINGLY, CERTAIN INDIVIDUALS ARE REQUIRED TO RESIDE ON CAMPUS.THE VALUE OF SCHOOL HOUSING PROVIDED FOR THIS PURPOSE MEETS THE REQUIREMENT FOR TAX EXEMPTION UNDER IRC SECTION 119, AND ACCORDINGLY, IS INCLUDED IN NON-TAXABLE BENEFITS. THE FOLLOWING INDIVIDUALS, LISTED ON PART II, RECEIVED HOUSING: WILLIAM MACMULLIN, JOHN H. ODDEN, EDITH F. TRAINA, AND PETER A. FREW. THE HEAD OF SCHOOL IS PROVIDED A DISCRETIONARY SPENDING ACCOUNT AS PART OF THE SCHOOL'S OPERATING BUDGET. PROCESSES AND PROCEDURES ARE IN PLACE TO VERIFY THE BUSINESS NATURE OF THESE EXPENDITURES. THIS IS NOT CONSIDERED A TAXABLE BENEFIT TO THE HEAD OF SCHOOL. PART I, LINE 4B THE HEAD OF SCHOOL PARTICIPATES IN A 457(F) PLAN. A CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY SERIES K 060806186 20774Y5P8 2018-09-11 22669365 DEFEASE SERIES E AND SERIES J 0 0 0 B CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY SERIES L 060806186 20775DKV3 2021-04-07 16267476 TO REDEEM SERIES I ISSUE, TO FUND ISSUANCE AND CONSTRUCTION COSTS 0 0 0 A 515000 22669365 369365 22300000 1 0 0 1 B 470000 16267476 8936976 325350 7005150 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 0 1 0 0 0 1 B 0 0 0 0 0 0 0 0 1 A 1 B 0 PAMELA MACMULLEN SPOUSE OF HEAD OF SCHOOL 163877 EMPLOYEE COMPENSATION AS ENGLISH TEACHER AND AEROBICS INSTRUCTOR. 0 X 77 2211646 FMV X VARIOUS SUPPLIES 2 3939 FMV 0 1 0 PART I, COLUMN (B): THE AMOUNTS LISTED IN PART I, COLUMN (B) REPRESENT THE NUMBER OF ITEMS CONTRIBUTED. FORM 990, PART VI, SECTION A, LINE 1A IN THE INTERIMS BETWEEN THE MEETINGS OF THE BOARD OF TRUSTEES, THE GOVERNANCE COMMITTEE SHALL HAVE THE RIGHT TO EXERCISE ALL OF THE POWERS OF THE BOARD OF TRUSTEES, EXCEPTING THOSE RELATING TO THE ELECTION OF TRUSTEES AND THE APPOINTMENT OF A PRESIDENT OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE ASSISTANT TREASURER AND THE CONTROLLER REVIEW A COPY OF THE DRAFT FORM 990, WHICH IS PREPARED BY THE SCHOOL'S EXTERNAL AUDIT FIRM. THE DRAFT FORM 990 IS PROVIDED TO ALL AUDIT AND FINANCIAL RISK COMMITTEE MEMBERS SEVERAL DAYS IN ADVANCE OF A SCHEDULED AUDIT AND FINANCIAL RISK COMMITTEE MEETING. HIGHLIGHTS OF THE FORM 990 ARE SUBSEQUENTLY PRESENTED TO THE BOARD OF TRUSTEES AT A REGULARLY SCHEDULED MEETING FOR FULL BOARD DISCUSSION AND COMMENT. IN ORDER TO PROTECT THE PRIVACY OF ITS DONOR BASE, THE SCHOOL CHOOSES TO DISTRIBUTE TO THE BOARD A COPY OF FORM 990 WHICH EXCLUDES SCHEDULE B. ALL OTHER PAGES, SCHEDULES AND ATTACHMENTS ARE PROVIDED IN FULL TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL HAS A WRITTEN CONFLICT OF INTEREST POLICY. ALL TRUSTEES, OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO SIGN A COPY OF THE CONFLICT OF INTEREST STATEMENT. ISSUES THAT PRESENT A POTENTIAL CONFLICT OF INTEREST RELATED TO ANY CURRENT TRUSTEE, OFFICER OR KEY EMPLOYEE ARE BROUGHT TO THE ATTENTION OF THE FULL BOARD OF TRUSTEES FOR DISCUSSION AND INCLUSION IN BOARD MINUTES. THE TRUSTEE, OFFICER OR KEY EMPLOYEE THAT IS IDENTIFIED AS POSSIBLY HAVING A CONFLICT OF INTEREST IS ASKED TO RECUSE THEMSELVES FROM THE MEETING AND DISCUSSION OF THE ISSUE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE HEAD OF SCHOOL/PRESIDENT OF THE CORPORATION IS DETERMINED ANNUALLY BY THE GOVERNANCE COMMITTEE, INDEPENDENTLY OF THAT INDIVIDUAL, BASED UPON SURVEY DATA COLLECTED RELATED TO THE COMPENSATION OF THE HEADS OF 39 COMPARABLE BOARDING SCHOOLS. THIS PROCESS WAS LAST COMPLETED COMPENSATION FOR KEY EMPLOYEES IS DETERMINED ANNUALLY BY THE PRESIDENT OF THE CORPORATION, INDEPENDENTLY OF THOSE INDIVIDUALS, BASED UPON COMPENSATION DATA SURVEYED FROM THOSE SAME 39 SCHOOLS AND REVIEWED BY THE GOVERNANCE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE TAFT SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF TRUSTS -56,522. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. CHARITABLE REMAINDER TRUSTS (2) TRUST CT THE TAFT SCHOOL CORPORATION T 1 CHARITABLE REMAINDER TRUST (1) TRUST CT T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0