2024-05-15T14:24:13-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FL BOSTON MA 02110 990 2022-07-01 060910420 CHOATE ROSEMARY HALL FOUNDATION INCORPORATED CHOA 2036972676 333 CHRISTIAN STREET WALLINGFORD CT 064923818 PATRICK DURBIN CHIEF FINANCIAL OFFICER 2036972676 2024-05-15 1 PATRICK DURBIN XXX-XX-XXXX 0 LAURA J KENNEY P00202198 6177170831 2024-05-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z CHOATE ROSEMARY HALL ALEXANDER CURTIS 333 CHRISTIAN STREET WALLINGFORD CT 064923818 106878532 0 X WWW.CHOATE.EDU X 1974 CT TO PROVIDE A QUALITY SECONDARY INDEPENDENT SCHOOL EDUCATION TO APPROXIMATELY 850 STUDENTS PER YEAR. 23 22 585 476 288875 0 45552917 25887933 55421402 59133239 214536 2694151 331999 184763 101520854 87900086 13782454 13870505 0 0 35886776 37282755 0 0 4384492 36975829 41110200 86645059 92263460 14875795 -4363374 781507671 800631810 91691466 89963524 689816205 710668286 X TO PROVIDE A QUALITY SECONDARY INDEPENDENT SCHOOL EDUCATION TO APPROXIMATELY 850 STUDENTS PER YEAR. 0 0 30893307 0 59133239 THE SCHOOL EDUCATES (ACADEMICALLY, RESIDENTIALLY AND ATHLETICALLY) APPROXIMATELY 850 STUDENTS THROUGH THE EFFORTS OF DEDICATED FACULTY AND STAFF. 19988281 0 0 THE SCHOOL MAINTAINS ABOUT 1.4 MILLION SQUARE FEET OF RESIDENTIAL, ACADEMIC AND ATHLETIC SPACE FOR A COMMUNITY OF OVER 1,000 MEMBERS. THE MAJORITY OF THIS EXPENSE REFLECTS THE DEPRECIATION ON THE SCHOOL PROPERTY, PLANT AND EQUIPMENT, WHICH HAS A CURRENT ACCOUNTING VALUE OF $182.2 MILLION. 13870505 13870505 0 THE SCHOOL DISCOUNTS TUITION IN THE FORM OF FINANCIAL AID AT AN APPROXIMATE RATE OF 26% IN AN EFFORT TO RECRUIT AND RETAIN THE MOST TALENTED STUDENT BODY. THE SCHOOL RECOGNIZES THAT A DIVERSE STUDENT BODY BETTERS THE OVERALL EXPERIENCE FOR ALL INVOLVED, AND THAT WHILE NOT EVERYONE CAN CONTRIBUTE FINANCIALLY IN TERMS OF TUITION, EVERYONE HAS SOMETHING TO OFFER THE CHOATE ROSEMARY HALL COMMUNITY. 7618978 0 0 MANAGEMENT FEES FOR FOOD SERVICE AND HOUSEKEEPING EXPENSES 1688539 0 0 PROFESSIONAL SERVICE EXPENSES 3133141 0 0 OFFICE AND INFORMATION TECHNOLOGY EXPENSES 3589410 0 0 ALL OTHER PROGRAM RELATED EXPENSES, INCLUDING ADVERTISING, ROYALTIES, INTEREST PAYMENTS, OUTSIDE RENTALS, ETC. 16030068 0 0 80782161 1 1 0 0 0 1 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 0 0 0 1 244 0 1 585 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 23 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X HEATHER LAFONTAINE 2036972676 333 CHRISTIAN STREET WALLINGFORD CT 06492 ALEXANDER D CURTIS HEAD OF SCHOOL 60.00 X X 613108 0 231487 DANYA ALSAADY TRUSTEE 2.00 X 0 0 0 KENNETH G BARTELS TRUSTEE 2.00 X 0 0 0 CAROLINE T BROWN TRUSTEE 2.00 X 0 0 0 MARC E BROWN TRUSTEE 2.00 X 0 0 0 SETH J BRUFSKY TRUSTEE 2.00 X 0 0 0 YAHONNES S CLEARY TRUSTEE 2.00 X 0 0 0 GEORGE F COLONY TRUSTEE 2.00 X 0 0 0 ELIZABETH M FERREIRA TRUSTEE 2.00 X 0 0 0 KATHERINE B FORREST TRUSTEE 2.00 X 0 0 0 DAVID FRAZE TRUSTEE 2.00 X 0 0 0 KIRSTEN M GARLINGHOUSE TRUSTEE 2.00 X 0 0 0 GUNTHER S HAMM TRUSTEE 2.00 X 0 0 0 ELIZABETH A HOGAN TRUSTEE 2.00 X 0 0 0 JUNGWOOK RYAN HONG TRUSTEE 2.00 X 0 0 0 KELLY GREEN KAHN TRUSTEE 2.00 X 0 0 0 DANIEL G KELLY JR TRUSTEE 2.00 X 0 0 0 VANESSA KONG KERZNER TRUSTEE 2.00 X 0 0 0 JAMES A LEBOVITZ TRUSTEE 2.00 X 0 0 0 CHRISTIAN B MCGRATH TRUSTEE 2.00 X 0 0 0 TAKASHI MURATA TRUSTEE 2.00 X 0 0 0 GEORGE F PYNE IV TRUSTEE 2.00 X 0 0 0 M ANNE SA'ADAH TRUSTEE 2.00 X 0 0 0 PATRICK T DURBIN CHIEF FINANCIAL OFFICER 60.00 X 301594 0 96360 DANIEL C COURCEY CHIEF DEVELOPMENT OFFICER (UNTIL 7/22) 60.00 X 592077 0 71009 MARI JONES DIRECTOR DEVELOPMENT & ALUMNI RELATIONS 40.00 X 212759 0 60191 KATHRYN LEVESQUE DEAN OF FACULTY 60.00 X 208314 0 57325 MIRIAM COHEN JENNINGS MEDICAL DIRECTOR 40.00 X 196012 0 56807 ALISON CADY CHIEF COMMUNICATIONS OFFICER 60.00 X 176046 0 79677 BENJAMIN SZALEWICZ DIRECTOR OF FACILITIES SERVICES 40.00 X 171049 0 53368 2470959 0 706224 42 0 1 0 LAROSA BUILDING GROUP LLC 163 RESEARCH PARKWAY MERIDEN CT 06450 CONSTRUCTION 7916839 SAGE DINING SERVICES INC 1402 YORK ROAD SUITE 100 LUTHERVILLE MD 21093 FOOOD SERVICE 2498367 ABM JANITORIAL SERVICES NEAST INC PO BOX 419860 BOSTON MA 022419860 CAMPUS JANITORIAL SERVICES 2245879 FIELD TURF USA INC 175 N INDUSTRIAL BOULEVARD NE CALHOUN GA 30701 CONSTRUCTION 995018 ROBERT AMSTERN ARCHITECTS 1 PARK AVENUE NEW YORK NY 10016 CONSTRUCTION DESIGN 774318 56 25887933 2055783 25887933 TUITION AND FEES 611710 54371278 54371278 SUMMER PROGRAMS 611710 3572918 3572918 STUDENT ACTIVITIES 611710 462463 462463 APPLICATION FEES 611710 302200 302200 HEALTH CENTER/COUNSELING 611710 16199 16199 408181 408181 59133239 2675325 2675325 17910351 660369 17929894 622000 -19543 38369 18826 18826 322440 426552 -104112 -104112 EVENT AND RINK RENTALS 900099 288875 288875 288875 87900086 59133239 288875 2590039 X 13870505 13870505 1921584 239316 645813 1036455 49471 24735 24736 24748940 21143592 2073173 1532175 3321867 2831500 281007 209360 5397706 5161306 62287 174113 1843187 1517593 167456 158138 134112 120701 13411 7350 7350 1942674 1942674 10555555 9475501 441636 638418 91438 30493 60915 30 3592532 2907310 546318 138904 229828 225831 2085 1912 4861 4861 2535133 2455562 56834 22737 1749008 1577688 59059 112261 136194 110851 21540 3803 1011454 991096 11224 9134 12782112 12507582 159103 115427 1724778 1260082 441454 23242 MAINTENANCE & REPAIR 3837376 3765056 39858 32462 OUTSIDE RENTALS 224208 141545 1173 81490 MINOR EQUIP. PURCHASE 200499 182136 13881 4482 GIFTS & RECOGNITION 164523 93577 9224 61722 186565 168477 14597 3491 92263460 80782161 7096807 4384492 41749154 54708384 37547636 29238136 27915864 27436638 7888 6537 1242892 2476157 385813833 203645842 187188155 182167991 43799865 50685146 441848797 453136875 207420 775946 781507671 800631810 8830633 6188873 43376070 45437603 36936497 35747839 2548266 2589209 91691466 89963524 X 297199842 309089507 392616363 401578779 689816205 710668286 781507671 800631810 X -4363374 25605670 -390215 X X 0 1 X 1 0 X 44555813 24585827 20231121 45552917 25887933 160813611 44555813 24585827 20231121 45552917 25887933 160813611 12949028 147864583 11159256 9102894 2965090 233452 2675325 26136017 250000 250000 187199628 272662089 0.78990 0.77590 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2021 AMOUNT: $ 250,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5550000 20782502 1 1 444520354 22085274 25574154 7138720 13479819 1898596 469662647 508661048 15668805 -58754606 6700974 12770539 1583380 444520354 396252198 10456833 124127247 6159519 12630465 3385246 508661048 386090192 5875295 27397155 6824155 11364715 4921574 396252198 389328192 7225318 17119949 6274045 13442158 7867064 386090192 0.25000 0.34000 0.41000 0 0 2622278 2622278 330608469 164465866 166142603 30883467 25555481 5327986 21699619 13624495 8075124 182167991 SPLIT INTEREST AGREEMENTS 6672872 F MULTI-STRATEGY LIMITED PARTNERSHIP 446464003 F 453136875 LIABILITY UNDER SPLIT-INTEREST AGREEMENTS 2372266 AGENCY FUNDS 216943 2589209 97707280 25605669 -29374 25576295 72130985 1898596 13870505 15769101 87900086 76855199 360840 360840 76494359 1898596 13870505 15769101 92263460 PART V, LINE 4: THE INTENDED USE OF THE ENDOWMENT FUNDS IS TO SUPPORT THE ORGANIZATION'S MISSION OF PROVIDING A QUALITY EDUCATION TO STUDENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST OBLIGATIONS -42,859. BENEFITS PAID ON ANNUITY -390,214. POSTAGE RECHARGE -22,853. COST OF GOODS SOLD 426,552. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID RECLASS 13,870,505. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD RECLASS 426,552. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -42,859. POSTAGE RECHARGE -22,853. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID RECLASS 13,870,505. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 A STATEMENT OF CHOATE'S NON-DISCRIMINATION POLICY IS INCLUDED IN ALL BROCHURES AND CATALOGS PERTAINING TO APPLICATIONS, FINANCIAL AID AND ENROLLMENT MATERIALS UTILIZED DURING STUDENT RECRUITMENT, MATRICULATION AND RE-ENROLLMENT. IT IS POSTED IN MULTIPLE LOCATIONS ON OUR WEBSITE, INCLUDING OUR HOMEPAGE, AND IS SHARED WITH ALL PROSPECTIVE DOMESTIC AND INTERNATIONAL CONSTITUENCIES. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 6849546 0 0 0 0 0 0 6849546 0 6849546 1 0 1 0 0 0 PART III ACCOUNTING METHOD: 1 FINANCIAL AID - REGULAR SESSION 267 13537950 FINANCIAL AID - REDUCTION IN TUITION FINANCIAL AID - SUMMER SESSION 79 332555 FINANCIAL AID - REDUCTION IN TUITION PART III, LINE 1 FINANCIAL AID IS AWARDED IN AN OBJECTIVE AND NONDISCRIMINATORY MANNER. X X X 0 1 X X X 0 1 0 0 0 0 0 0 0 ALEXANDER D CURTIS HEAD OF SCHOOL 546300 0 0 0 66808 0 147994 0 83493 0 844595 0 0 0 DANIEL C COURCEY CHIEF DEVELOPMENT OFFICER (UNTIL 7/2 204078 0 0 0 387999 0 31362 0 39647 0 663086 0 350000 0 PATRICK T DURBIN CHIEF FINANCIAL OFFICER 301594 0 0 0 0 0 42750 0 53610 0 397954 0 0 0 MARI JONES DIRECTOR DEVELOPMENT & ALUMNI RELATI 212759 0 0 0 0 0 33305 0 26886 0 272950 0 0 0 KATHRYN LEVESQUE DEAN OF FACULTY 204500 0 0 0 3814 0 30675 0 26650 0 265639 0 0 0 ALISON CADY CHIEF COMMUNICATIONS OFFICER 173250 0 0 0 2796 0 25987 0 53690 0 255723 0 0 0 MIRIAM COHEN JENNINGS MEDICAL DIRECTOR 196012 0 0 0 0 0 29870 0 26937 0 252819 0 0 0 BENJAMIN SZALEWICZ DIRECTOR OF FACILITIES SERVICES 171049 0 0 0 0 0 26808 0 26560 0 224417 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL IS ALLOWED FIRST CLASS TRAVEL UNDER LIMITED CIRCUMSTANCES CONNECTED TO SCHEDULE AND DISTANCE TRAVELED. THIS IS NOT TREATED AS TAXABLE. THE FACULTY RECEIVE HOUSING IN ACCORDANCE WITH THE SCHOOL'S HOUSING POLICY. THE SCHOOL'S SENIOR LEADERSHIP AND FACULTY RESIDE ON CAMPUS AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER. AS A CONDITION OF EMPLOYMENT, THE SCHOOL REQUIRES SENIOR LEADERSHIP TO RESIDE ON CAMPUS AND CONSIDER THEIR HOME AS AN INTEGRAL PART OF THE CAMPUS ENVIRONMENT; TO OPEN THEIR HOME FOR STUDENTS AND ADVISEES; AND TO ASSUME DORMITORY OR OTHER RESIDENTIAL LIFE SUPERVISORY RESPONSIBILITIES AS ASSIGNED. SENIOR LEADERSHIP IS ON CALL 24/7. THE VALUE OF HOUSING IS REPORTED IN SCHEDULE J, PART II, COLUMN (D) AND IS TREATED AS NON-TAXABLE. ALL FACULTY ARE REQUIRED TO PROVIDE SERVICES TOWARD THE RESIDENTIAL LIFE PROGRAM AT CHOATE ROSEMARY HALL. THE SCHOOL DOES NOT REIMBURSE EXPENSES FOR HOUSING. THE HEAD OF SCHOOL MAY SEEK REIMBURSEMENT FOR CERTAIN PERSONAL PROFESSIONAL SERVICES SUCH AS FINANCIAL PLANNING AND TAX COUNSELING WHICH ARE TREATED AS TAXABLE. THE HEAD OF SCHOOL RESIDENCE RECEIVES HOUSEKEEPING SERVICES IN CONNECTION WITH ITS REGULAR USE FOR SCHOOL EVENTS, AND AS SUCH, IT IS NOT TAXABLE. PART I, LINE 1B THE SCHOOL REQUIRES THAT ITS SENIOR LEADERSHIP RESIDE ON CAMPUS AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER. ALL FACULTY ARE REQUIRED TO PROVIDE SERVICES TOWARD THE RESIDENTIAL LIFE PROGRAM AT CHOATE ROSEMARY HALL. THE SCHOOL DOES NOT REIMBURSE EXPENSES FOR HOUSING AND PERSONAL SERVICES. FACULTY RECEIVE HOUSING AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER AND IN ACCORDANCE WITH THE SCHOOL'S FACULTY HOUSING POLICY. PART I, LINE 4B THE HEAD OF SCHOOL AND EXECUTIVE DIRECTOR OF DEVELOPMENT PARTICIPATE IN A 457(F) PLAN WITH A SUBSTANTIAL RISK OF FORFEITURE. THE EXECUTIVE DIRECTOR OF DEVELOPMENT RECEIVED PAYMENT FOR HIS 457(F) PLAN UPON HIS DEPARTURE FROM CHOATE ROSEMARY HALL. A CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 060806186 20775DGG1 2020-02-28 38539080 SERIES F BONDS WERE ISSUED TO REFINANCE SERIES E BONDS 0 0 0 A 2000000 38539080 467579 38071501 2008 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 1 0 0 0 0 0 1 A 1 SCHEDULE K, PART I, BOND ISSUES: THERE IS A BOND PREMIUM OF $6,984,080. ELIZABETH FECKO-CURTIS OFFICER'S SPOUSE 49471 EMPLOYMENT 0 X 40 2055783 FMV 0 1 0 SCHEDULE M, PART I, COLUMN (B): THE NUMBER OF DONATIONS OF PUBLICLY TRADED STOCK REPRESENTS THE NUMBER OF CONTRIBUTIONS RECEIVED. FORM 990, PART VI, SECTION B, LINE 11B THE MANAGEMENT OF THE SCHOOL DISTRIBUTES THE DRAFT COPY OF THE FORM 990 TO THE ENTIRE BOARD OF TRUSTEES. MANAGEMENT IS AVAILABLE FOR ANY QUESTIONS BOARD MEMBERS MAY HAVE. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL'S AUDIT, RISK MANAGEMENT AND COMPLIANCE COMMITTEE DOES AN INVENTORY OF EACH RESPONDENT'S CONFLICT OF INTEREST QUESTIONNAIRE BEFORE EACH APRIL MEETING. THE COMMITTEE ENSURES THERE IS A 100% RESPONSE RATE. THE TRUSTEESHIP COMMITTEE FOLLOWS UP ON CONFLICTS THAT ARE DISCLOSED, IF ANY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES MEETS ONCE A YEAR TO DISCUSS AND REVIEW THE HEAD OF SCHOOL'S AND SENIOR ADMINISTRATIONS' COMPENSATION. THE COMMITTEE IS PROVIDED WITH COMPENSATION HISTORY AND COMPARISONS FROM THIRD PARTY SOURCES FOR THE HEAD OF SCHOOL AND SENIOR ADMINISTRATORS. A RECOMMENDATION OF INCREASES IS MADE BASED ON THE FACULTY COMPENSATION POOL (PERCENT OF INCREASE). THE DELIBERATIONS AND DISCUSSIONS REGARDING COMPENSATION ARE DOCUMENTED. FROM TIME-TO-TIME, A PRIVATE CONSULTANT IS CONTRACTED TO PERFORM INDEPENDENT ANALYSIS OF COMPENSATION PACKAGES TO ENSURE COMPLIANCE WITH IRS REGULATIONS OF THE INTERMEDIATE SANCTIONS ACT AND REBUTTABLE PRESUMPTION OF REASONABLENESS TESTS. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS FORM 990 AND AUDITED FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. THE SCHOOL DOES NOT MAKE ITS GOVERNING DOCUMENTS OR ITS CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G OTHER: PROGRAM SERVICE EXPENSES 9,475,501. MANAGEMENT AND GENERAL EXPENSES 441,636. FUNDRAISING EXPENSES 638,418. TOTAL EXPENSES 10,555,555. FORM 990, PART XI, LINE 9: BENEFITS PAID ON ANNUITY OBLIGATIONS -390,215. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS AN AUDIT, RISK MANAGEMENT AND COMPLIANCE COMMITTEE WHICH OVERSEES THE WORK OF ITS INDEPENDENT ACCOUNTANTS, AND IS RESPONSIBLE FOR THEIR SELECTION. CRH INVESTMENTS HOLDINGS LP 224 W TREMONT AVE CHARLOTTE NC 28203 851875047 INVESTING DE GEM LP EXCLUDED -1164372 468314633 0 322348 0 1.00000 CHARITABLE REMAINDER TRUST (1) CHARITABLE TRUST CT N/A T 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 CRH INVESTMENTS HOLDINGS LP B 5550000 FAIR VALUE