2025-11-12T14:57:01-06:00 2024-12-31 010494526 Baker Newman & Noyes PO Box 507 Portland ME 04112 990 2024-01-01 237352599 Kieve Wavus Education Inc KIEV 2075635172 PO Box 169 Nobleboro ME 04555 Keith Orlando Chief Financial Officer 2075635172 2025-11-10 1 0 Connor Smart P02285543 2078792100 2025-11-10 2024 2025-03-06 01:10:19Z Sam Kennedy PO Box 169 Nobleboro ME 04555 17703945 0 X www.kwe.org X 1926 ME To help people grow through experiential programs led by inspirational role models. 14 14 296 19 0 0 2032089 2042361 9855831 10733798 470144 785756 154663 58804 12512727 13620719 1237499 1676205 0 0 6813588 5371037 0 0 1326857 6163196 6171984 14214283 13219226 -1701556 401493 47334128 47386510 5817153 4413563 41516975 42972947 X Kieve Wavus Education is guided by its mission: to empower people to contribute positively to society by promoting the values of kindness, respect for others, and environmental stewardship through year-round experiential programs, camps for youth and adults, and guidance through experiential programs led by inspirational role models. 0 0 3674940 503550 4658952 Camp Kieve for boys is a wilderness tripping camp with a robust traditional summer camp program. 606 campers were in the 2024 camp program across four sessions (two 26-day and two 10-day). Founded in 1926 on Damariscotta Lake in Nobleboro, Maine, Kieve is a Celtic verb meaning to strive in emulation of - to work hard to acquire skills, knowledge, and attitudes from others so as to improve yourself; the program is built on this foundation, providing a staff full of tremendous role models worthy of emulation. Campers ranging from 8-17 years old learn and grow through fun and explorative traditional activities on campus and increasingly challenging wilderness trips, ranging from two to 22 days, that foster independence and build resilience. (Camp Kieve continued) Led by largely college-aged counselors, campers build skills and lasting connections that empower them to go back and positively affect their communities by spreading the values of kindness, respect, and environmental stewardship. 3374040 494295 4240028 Wavus Camp for girls is a wilderness tripping camp with a robust traditional summer camp program. 561 campers were in the 2024 camp program across our sessions (two 26-day and two 10-day). Founded in 1922, the Wavus Foundation merged with Kieve Affective Education to form Kieve Wavus Education in 2005, with Wavus Camp reopening as Kieve's sister camp and program in 2006. Campers ranging from 8-17 years old learn and grow through fun and explorative traditional activities on campus and increasingly challenging wilderness trips, ranging from two to 22 days, that foster independence and build resilience. (Wavus Camp continued) Led by largely college-aged counselors, campers build skills and lasting connections that empower them to go back and positively affect their communities by spreading the values of kindness, respect, and environmental stewardship. 3946453 678360 1872494 The Leadership School (TLS) is a teacher education program that cultivates career educators who learn by providing experiential outdoor education programs to thousands of Maine students each year. TLS is a Maine Department of Education (DOE) non-traditional, limited-purpose private school (grades 1-12), guided by our environmental stewardship and experiential approach to social-emotional learning (EASEL) curricula. At TLS, our teaching fellows spend their fall and spring terms leading overnight Outdoor School programs for Maine students and teachers on our Kieve campus, and their winter terms in residency at local, Midcoast Maine public schools. (Leadership School & KWE Events continued) Through a partnership with the University of Southern Maine, a TLS Fellow can earn their professional DOE teaching certification with all coursework and student teaching credit hours paid for by KWE. In 2024, TLS served approximately 6,353 students across 77 programs on campus and at our local schools.KWE Events incorporates the wide range of programs led across our campuses and in our community, above and beyond TLS, Kieve, and Wavus. Each year, KWE hosts dozens of events - from wellness retreats for humanitarian and mission-based groups ranging from veterans to families fighting cancer, to board meetings, team-building programs, and more. Our campuses feature cozy lakeside cottages, as well as the Kennedy Learning Center, a 16-bedroom event center at our Kieve campus, where alumni and people aligned with our mission can come together to learn, grow, and benefit from this transformational place. This work also incorporates the Lincoln County Food Initiative, where, during the 20 weeks of winter in Maine, members of our operations team combine their efforts to serve our neighbors in need. This program evolved from a community-wide initiative at the peak of the COVID pandemic. It leverages local partnerships and KWE's industrial kitchens and talented full-time cooks to procure local ingredients and produce more than 6,000 delicious, pre-made meals to our five local pantries, helping sustain our neighbors facing food insecurity during the hardest time of the year. 10995433 1 1 0 0 0 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 1 0 1 0 0 0 0 1 0 0 0 1 32 0 1 296 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 14 14 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X Keith Orlando Chief Financial Officer 2075635172 PO Box 169 Nobleboro ME 04555 Reid Bolton Trustee 1.00 0.00 X 0 0 0 Gretchen Brinkler Trustee 1.00 0.00 X 0 0 0 Lisa Brown Trustee (start 9/24) 1.00 0.00 X 0 0 0 W Morgan Churchman III Trustee (end 11/24) 1.00 0.00 X 0 0 0 Lynley W Ciorobea Trustee 1.00 0.00 X 0 0 0 Pamela K Jensen Trustee (end 11/24) 1.00 0.00 X 0 0 0 Clifford E Muller Trustee (end 11/24) 1.00 0.00 X 0 0 0 Bree Murray Trustee 1.00 0.00 X 0 0 0 Masi Ngidi-Brown Trustee (start 5/24) 1.00 0.00 X 0 0 0 Gabriela Perez Rocchietti Trustee 1.00 0.00 X 0 0 0 Libby Schroeder Trustee 1.00 0.00 X 0 0 0 Mistye Wilson Trustee 1.00 0.00 X 0 0 0 William A Knowlton Chair(end 5/24); Trustee(end 11/24) 8.00 0.00 X X 0 0 0 Kathryn H Redmond V. Chair(end 5/24);Chair(start 5/24) 8.00 0.00 X X 0 0 0 Christopher T Dougherty Trustee; Vice Chair (start 5/24) 3.00 0.00 X X 0 0 0 J Harrison Stuart Vice Chair (end 5/24); Trustee 3.00 0.00 X X 0 0 0 Matthew J McKenna Treasurer 3.00 0.00 X X 0 0 0 John W Geismar Sec. (end 5/24); Trustee (end 11/24) 3.00 0.00 X X 0 0 0 James Blue Trustee; Secretary (start 5/24) 3.00 0.00 X X 0 0 0 Henry Kennedy Exe. Director Emeritus (end 1/24) 45.00 0.00 X 1220480 0 9216 Sam Kennedy President & CEO 45.00 0.00 X 329526 0 98389 Christopher Renyi Business Director (end 6/24) 40.00 0.00 X 78445 0 19430 Keith Orlando Business Director & CFO (start 9/24) 40.00 0.00 X 40515 0 0 Charles Richardson Jr Sen. Advisor to Exec. Dir.(end 1/24) 45.00 0.00 X 1197523 0 18375 Sam Kaplan Executive Director & COO 45.00 0.00 X 200381 0 98819 3066870 0 244229 4 0 1 0 Pierce Atwood LLP 254 Commercial Street Portland ME 04101 Legal services 121555 1 10000 2032361 175570 2042361 Boys camp tuition 611600 4658952 4658952 Girls camp tuition 611600 4240028 4240028 Facilitated events & retreats 611600 1792690 1792690 Kennedy Learning Center & Jewell 611600 42128 42128 10733798 534130 534130 25128 0 25128 25128 25128 4204416 3952790 251626 251626 251626 0 10000 4000 -4000 -4000 164112 126436 37676 37676 13620719 10771474 0 806884 15581 15581 1660624 1660624 1796002 1456676 112765 226561 2253469 1848357 130065 275047 223170 148467 30697 44006 389125 258871 53525 76729 709271 471853 97561 139857 145443 145443 31000 31000 56503 56503 671929 239578 94792 337559 126583 103006 3472 20105 589759 400271 86203 103285 112094 44533 8389 59172 663639 630564 16538 16537 432672 428606 2033 2033 234435 192855 21782 19798 34373 22037 6168 6168 845639 845639 356236 356236 Food/dining services 726611 726611 Camp programs/supplies 574612 574612 Student transportation 433241 433241 Provision for bad debts 137215 137215 13219226 10995433 896936 1326857 2172002 343806 1125928 926917 99351 440512 79579 100969 38524 21920 243332 145369 44215756 15907246 26299347 28308510 13871912 14104728 2510289 2225820 893864 767959 47334128 47386510 2821703 2260453 1602493 1494634 713633 655987 676835 0 2489 2489 5817153 4413563 X 39319752 40236128 2197223 2736819 41516975 42972947 47334128 47386510 401493 1054479 0 X X 0 1 X 1 0 X 2714640 3024062 1449690 2032089 2042361 11262842 212463 8677124 9482371 9930049 10771474 39073481 2927103 11701186 10932061 11962138 12813835 50336323 219542 162835 88946 71127 755678 1298128 0 219542 162835 88946 71127 755678 1298128 49038195 263977 663254 498079 608061 559258 2592629 263977 663254 498079 608061 559258 2592629 40760 46333 87093 3191080 12364440 11470900 12616532 13373093 53016045 0.92500 0.92830 0.04890 0.04960 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 47.60 0 0 1 0 0.00 0 17504561 139125 1783722 2169943 17257465 14826193 548325 2266087 136044 17504561 17497932 5000 -2569339 107400 14826193 15995764 111399 1516419 125650 17497932 13915600 279000 1914562 113398 15995764 0.87270 0.11840 0.00890 0 0 6924940 6924940 26928311 11077208 15851103 3956311 3486409 469902 6406194 1343629 5062565 28308510 Capital lease obligation 2489 2489 X 14749131 1054479 130436 1184915 13564216 56503 56503 13620719 13293159 130436 130436 13162723 56503 56503 13219226 Part II, Line 9: During the year ended December 31, 2020, the Organization purchased a parcel of land in the town of Jefferson, Maine for $1,220,000. As part of that purchase, the Organization applied for a $260,000 conservation easement through the Agricultural Land Easement program of the United States Department of Agriculture. Until the Organization's easement application is approved, the Organization has a liability due to the original seller of the land in the amount of $260,000. As a result, this amount has been included as a component of accounts payable and accrued liabilities at both December 31, 2024 and 2023, in the accompanying statements of financial position. During this tax year, the Organization did not expend any funds or dedicate any staff time to the maintenance, monitoring, or inspection of this acreage. Part V, Line 4: At December 31, 2024 and 2023, the Organization held board-designated and donor-restricted endowments amounting to $17,257,465 and $17,504,561, respectively. The purpose of these endowment funds is to provide investment income and gains to further various activities of the Organization, including a provision for financial aid and related expenditures. The organization has adopted a total return spending policy. Under this policy, an amount equal to 3% (adjusted-down from 4% in November, 2022) of the market value of the fund (4.5% for the Damariscotta Lake fund), based on a rolling three-year average of the fund's calendar year-end market value, shall be available to the organization each year. Part X, Line 2: The Organization is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. However, income from certain activities not directly related to the Organization's tax?exempt purpose is subject to taxation as unrelated business income. In addition, the Organization qualifies for the charitable contribution deduction under Section 170(b)(1)(A) and has been classified as an organization other than a private foundation under Section 509(a)(2) of the Code. Under GAAP, the Organization must recognize and disclose in its financial statements a liability for any uncertain tax reporting positions it has taken or expects to take when, despite the Organization's belief that its tax return positions are supportable, it is possible that certain positions may not be fully sustained upon review by tax authorities. To the extent that the final tax outcome of these matters is different than the amounts recorded, such differences impact income tax expense in the period in which such determination is made. Interest and penalties, if any, related to accrued liabilities for potential tax assessments are included in income tax expense. Management has determined that no liability for uncertain tax positions exists as of December 31, 2024. Part XI, Line 2d - Other Adjustments: Cost of goods sold 126,436. Fundraising event expenses 4,000. Part XII, Line 2d - Other Adjustments: Cost of goods sold 126,436. Fundraising event expenses 4,000. Schedule D, Part II, Conservation Easements: The Organization holds ownership over approximately fifty acres of undeveloped and natural land that has been deemed by the State of Maine to constitute a conservation easement. As part of the Organization's responsibility under this easement-designation, the Organization is to exercise stewardship over the acreage by keeping the property in its natural and undeveloped state. Accordingly, the Organization expends very little direct cost or time to the property other than annual inspections and minor landscaping expenses; overall, the Organization holds the land to protect it in its wild and unchanged state of being, but otherwise does not interfere with the conditions or natural environment of this property. Therefore, the Organization is unable to provide an amount of the staff time or costs spent in preserving the easement, though the Organization estimates that resources expended on these easements, if any at all, were nominal and immaterial to the Organization's operations. 1 Scholarships and financial aid for tuition-funded programs. 7177 1660624 Part I, Line 2: Financial aid awards are given to campers, TLS client schools, and KWE Event clients in the form of tuition reductions; there are no direct cash payments. Campers and TLS client schools complete applications to request aid, and awards are made based on a variety of factors, focusing on overall financial need. The Organization requires verification of income and ability (or inability) to pay when considering camp financial aid awards. For Events, client budgets are considered, and awards are made based on alignment with KWE's mission. More information about financial aid and our programs can be found at: www.kwe.org. X X 1 1 X X X 1 1 0 0 0 0 0 1 0 Henry Kennedy Exe. Director Emeritus (end 1/24) 32073 0 0 0 1188407 0 0 0 9216 0 1229696 0 0 0 Charles Richardson Jr Sen. Advisor to Exec. Dir.(end 1/24) 194552 0 0 0 1002971 0 0 0 18375 0 1215898 0 0 0 Sam Kennedy President & CEO 201836 0 53750 0 73940 0 71301 0 27088 0 427915 0 0 0 Sam Kaplan Executive Director & COO 160323 0 34000 0 6058 0 72169 0 26650 0 299200 0 0 0 Part I, Line 1a Housing Allowances: Certain individuals who served the Organization in an officer, trustee, key employee, or highest compensated employee-capacity received taxable housing stipends and housing allowances during the period covered by this Form 990. These stipends have been deemed to be includable in these individuals' reportable taxable income, and have therefore been reported within their 2024 Forms W-2, Box 5 wages. Additionally, these individuals have been listed on this Form 990, Part VII, and their housing stipends are included in the figures reported on this Schedule J, Part II, Column B(iii), Other Compensation. The applicable individuals who received such housing benefits, and the value of those benefits, are as follows: - Sam Kennedy, President & CEO: $61,200 Payments for Business Use of Personal Residence: During the year covered by this Form 990, the Organization entered a short-term license and use agreement with Henry Kennedy, the Organization's Executive Director Emeritus, to utilize personal properties and lodging units owned by Henry Kennedy for Kieve Wavus programs. The Organization leased the properties from Mr. Kennedy to provide additional lodging for camp guests and families. As part of the agreement, the Organization compensated Henry Kennedy $17,977, an amount considered to be reasonable and representative of the fair market value of the properties under the agreement. This agreement was subject to approval by the Organization's Board and Treasurer. Part I, Lines 4a-b Schedule J, Part I, Line 4a, separation payments: Henry Kennedy, Executive Director Emeritus, and Charles Richardson, Jr., Senior Advisor to the Executive Director, both entered into a separation agreement with the Organization that terminated their employement effective January 2, 2024. Mr. Kennedy received a separation payment of $1,170,430 and Mr. Richardson received a separation payment of $1,002,971. Such compensation was reportable to Mr. Kennedy and Mr. Richardson as taxable income and included within their 2024 Form W-2, Box 5 wages. Additionally, in accordance with IRS instructions, such separation compensation has been included within the "Other Income" amounts reported for Mr. Kennedy and Mr. Richardson on this Form 990, Schedule J, Part II, Column B(iii). Lastly, as Mr. Kennedy and Mr. Richardson were actively employed during this tax period, Mr. Kennedy has still been deemed a "Current Officer and Mr. Richardson as still been deemed a "Highest Compensated Employee" for purposes of reporting on this Form 990 in accordance with IRS instructions, though their terms of service did end in January 2024 and they did receive taxable separation payments during this reporting period. Schedule J, Part I, Line 4b, supplemental non-qualified retirement plans: The Organization maintains a retirement plan under Internal Revenue Service Code Section 457(f) for the benefit of certain key employees and/or officers. The Organization made contributions to the plan for the benefit of these employees totaling $59,240 for this tax year; as of December 31, 2024, total assets under the plan amounted to $161,353, and are presented as other assets, with an offset to accounts payable and accrued liabilities, within the Organization's audited Statement of Financial Position and on this Form 990, Part X, Balance Sheet. For the 2024 Tax Year, the following listed individuals received 457(f) contributions under the plan: - Sam Kennedy, President & CEO: $30,400 - Sam Kaplan, Executive Director & COO: $28,840 The 457(f) contributions have been deemed to be deferred compensation and have been included within the amounts reported this Schedule J, Part II, Column C. The contributions to these plans are to recognize many years of distinguished service to the Organization. Part I, Line 7 The Organization may from time-to-time pay bonuses, awards, and incentive compensation to select individuals upon the successful completion of defined goals and in accordance with clear performance metrics. Paddle and Thistle LLC Lots 8 1 Executive Director Emeritus Purchase land X 865000 397237 0 1 1 Richard Kennedy Lot 9 Executive Director Emeritus Purchase land X 385000 176807 0 1 1 Richard Kennedy Lots 18 20 Executive Director Emeritus Purchase land X 145000 50267 0 1 1 RCK Irrevocable Trust Executive Director Emeritus Purchase land X 95000 31676 0 1 1 655987 Henry Kennedy Executive Director Emeritus 17977 During the year covered by this Form 990, the Organization entered a short-term license and use agreement with Henry Kennedy, the Organization's Executive Director Emeritus, to utilize personal properties and lodging units owned by Henry Kennedy for Kieve Wavus programs. The Organization leased the properties from Mr. Kennedy to provide additional lodging for camp guests and families. As part of the agreement, the Organization compensated Henry Kennedy $17,977, an amount considered to be reasonable and representative of the fair market value of the properties under the agreement. This agreement was subject to approval by the Organization's Board and Treasurer. 0 Sarah Kennedy Family Member of Executive Director 89145 Sarah Kennedy is an employee of the Organization. Sarah Kennedy also shares a family relationship with Sam Kennedy and Henry Kennedy, the Organization's Executive Director and Executive Director Emeritus, respectively, during this tax year. Sarah Kennedy is a licensed nurse and is one of the few healthcare professionals available on the Kieve Wavus campus should any camp guest, visitor, or staff require medical attention. Accordingly, Sarah Kennedy, while a relative of an Officer of the Organization, is considered a valuable employee of the Organization who is necessary to the Organization's ability to fulfill its mission. Any compensation and benefits offered to Sarah would have been paid at a fair market value relative to the services performed and the quality of those services, as well as subject to review by the Organization's independent Board of Trustees. 0 Betty J Kennedy Family Member of Executive Director 50718 Betty J. Kennedy is an employee of the Organization. Betty J. Kennedy also shares a family relationship with Sam Kennedy and Henry Kennedy, the Organization's Executive Director and Executive Director Emeritus, respectively, during this tax year. Betty performs administrative services on behalf of the Organization. The employment relationship with Betty J. Kennedy has been deemed necessary and appropriate for the Organization's routine operations. Any compensation and benefits offered to Betty would have been paid at the fair market value relative to the services performed and the quality of those services, as well as subject to review by the Organization's independent Board of Trustees. 0 Form 990, Schedule L, Part II, Loans with Interested Persons Henry Kennedy served as the Organization's Executive Director Emeritus during the period covered by this Form 990, and served as the Organization's Executive Director in prior tax years. Henry Kennedy has also been a strong believer, advocate, and supporter of the Kieve Wavus mission and operation for many years. To support the Organization, Henry Kennedy, either directly or through his trusts and business interests, has provided loans to the Organization so that it may purchase land and real estate to expand its campuses and to further its exempt mission. All loan agreements offered by Henry Kennedy were subject to review and approval by the Organization's Treasurer at the time of such loan. Any fees, charges, or interest rates on these loans was set in reference to the Federal Reserve long-term government bond yield interest-rate at the time of the original loan agreement. Accordingly, the rates on these loans have not been deemed to be unreasonable; the rates were set with the intention of maintaining an objective, measurable fair market yield, without construing any unreasonable private benefit or advantage upon Henry Kennedy. In other words, it was the position of the Organization's Treasurers at the time of these loan agreements that the loan was taken due to a fair, arm's length transaction. The outstanding balances for each loan, and the applicable lending body, are disclosed on this Schedule L, Part II, and in total on this Form 990, Part X. X 22 175570 Gift date FMV 0 1 1 Part I, Line 32b: The Organization engages professional investment advisors and brokers to process, sell, and/or maintain contributions of non-cash financial assets as they are received. Form 990, Part VI, Section A, line 2 Henry Kennedy and Sam Kennedy have a family relationship. Form 990, Part VI, Section A, line 4 For the period covered by this Form 990 tax return, the Organization updated its mission statement to read as follows: Kieve Wavus Education is guided by its mission: to empower people to contribute positively to society by promoting the values of kindness, respect for others, and environmental stewardship through year-round experiential programs, camps for youth and adults, and guidance through experiential programs led by inspirational role models. Form 990, Part VI, Section B, line 11b The Form 990 is prepared with the assistance of an independent CPA firm. The CPA firm coordinates with key officers and finance personnel of the Organization to prepare and review a draft of the Form 990 prior to its filing with the IRS. Once a completed draft of the Form 990 is prepared, the drafted return is sent first to the Board's Finance, Audit, & Compliance Committee for their review and consideration; and then to the entire board of directors for their review, all of whom are deemed to be external independent trustees and are knowledgeable of the finances of the Organization. Form 990, Part VI, Section B, line 12c The Organization requires board members to review and sign a conflict of interest form at the annual meeting each year. Board members are required to report any potential conflicts arising during the ensuing year as they occur. Form 990, Part VI, Section B, line 15a In the final year of their employee agreement contract, the Organization will engage in a comprehensive review of the compensation package offered to its Chief Executive Officer (CEO). The purpose of this review is to ensure that the CEO's wages and benefits are appropriate and in alignment with the quality and level of services performed and with industry standards. This review has historically included the analysis of comparability data, including comparison and consideration of executive compensation paid by similar institutions. This review has also included insight from legal counsel and other knowledgeable and independent persons. The Board's Compensation Committee shall oversee, plan, and determine the compensation of the President & CEO and shall oversee the compensation of the Corporation's senior leadership team. After establishing a comprehensive and secure model, the Organization may use that model as a framework when considering the compensation and benefits to be offered to its other employed officers and key personnel. However, such a detailed compensation study is not typically done for other officer positions. Rather, officers other than the Chief Executive are compensated based on the framework established specifically for the Chief Executive. For this reason, Form 990, Part VI-B, Line 15b has been marked "no". Though the compensation and benefits paid to officers and key personnel other than the Chief Executive does not undergo the same level of intensive scrutiny or comparability study as does the Chief Executive's compensation package, the Organization believes that the framework established while determining the Executive's compensation provides a reasonable model to base other employees' payroll on, and that the compensation paid to other officers and key personnel is appropriate relative to the quality and level of services performed, peer organizations, and industry standards. Form 990, Part VI, Section C, line 19 The Organization makes its governing documents, conflict of interest policy, and financial statements available to the public as required by law. Form 990, Part XII, Line 2c: The audit was subject to the review and oversight of the Organization's President & CEO, Finance, Audit & Compliance committees, and key financial and business personnel within the Organization. Additionally, the Organization's audited financial statements and Form 990 are subject to review by the Organization's independent Board of Trustees prior to their issuance. Charitable Remainder Trusts (2) c/o Security Life of Denver Insuran E Tufts Avenue CO 80237 Beneficiary Distributions ME N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0