2026-05-12T10:00:47-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN 29 SOUTH MAIN STREET 4TH FLOOR WEST HARTFORD CT 06107 990 2024-07-01 141413685 THE STORM KING SCHOOL STOR 8455347518 314 MOUNTAIN ROAD CORNWALLONHUDSON NY 12520 LISA SHAMBAUGH HEAD OF SCHOOL 8455347892 2026-04-15 1 1 ALEXANDRA SPIELVOGEL P02040631 8605614000 2026-05-09 2024 2025-03-06 01:10:19Z LISA SHAMBAUGH 314 MOUNTAIN ROAD CORNWALLONHUDSON NY 12520 16740457 0 X WWW.SKS.ORG X 1928 NY THE STORM KING SCHOOL, A GLOBAL COMMUNITY, PREPARES STUDENTS BY INSPIRING THEM TOWARD ACADEMIC SUCCESS AND CONFIDENCE IN AN INCLUSIVE AND DIVERSE LEARNING ENVIRONMENT THAT EMBRACES CHARACTER, BALANCE, AND TRUST. 15 15 90 15 247870 6134 544713 889431 11481077 11875549 515208 489099 336571 352793 12877569 13606872 2290854 2565645 0 0 5879143 6006237 12984 4373 443160 4189471 4452239 12372452 13028494 505117 578378 16619858 17678353 8268387 8699636 8351471 8978717 THE STORM KING SCHOOL, A GLOBAL COMMUNITY, PREPARES STUDENTS BY INSPIRING THEM TOWARD ACADEMIC SUCCESS AND CONFIDENCE IN AN INCLUSIVE AND DIVERSE LEARNING ENVIRONMENT THAT EMBRACES CHARACTER, BALANCE, AND TRUST. 0 0 10311763 2565645 11905990 ALL EXPENSES ARE INCURRED TO PROVIDE EDUCATION TO THE STUDENTS WHO ATTEND THE STORM KING SCHOOL. THE SCHOOL IS AN INSTITUTION RECOGNIZED BY THE NYS BOARD OF REGENTS AND PROVIDES EDUCATION TO APPROXIMATELY 176 BOARDING AND DAY STUDENTS IN GRADES 8 THROUGH 12. 10311763 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 37 0 1 90 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X ANDREW SMITH 8454587518 314 MOUNTAIN ROAD CORNWALLONHUDSON NY 12520 ROBERT GINSBERG CHAIR 4.00 X X 0 0 0 ROBERT DOCHERTY FIRST VICE CHAIR 2.00 X X 0 0 0 KERRYANNE MONAHAN SECOND VICE CHAIR 2.00 X X 0 0 0 SCOTT RUTTER SECRETARY 2.00 X X 0 0 0 RICHARD GROSSMAN THIRD VICE CHAIR 2.00 X X 0 0 0 CHRISTINE WATSON TREASURER 2.00 X X 0 0 0 BRUCE HANSON TRUSTEE 2.00 X 0 0 0 ROGER AUERBACHER TRUSTEE 2.00 X 0 0 0 ILA BARTON TRUSTEE 2.00 X 0 0 0 CHARLES CORDERO TRUSTEE 2.00 X 0 0 0 MICHAEL FISCHER TRUSTEE 2.00 X 0 0 0 JONATHAN FLORES TRUSTEE 2.00 X 0 0 0 PETER FOX TRUSTEE 2.00 X 0 0 0 KEN GOLDWASSER TRUSTEE 2.00 X 0 0 0 NEIL NOVESKY TRUSTEE 2.00 X 0 0 0 RAYMOND HECHT ASSISTANT HEAD FOR FINANCE 50.00 X 169970 0 16181 LISA SHAMBAUGH HEAD OF SCHOOL (AS OF 07/24) 50.00 X 107585 0 34433 MAREK PRAMUKA ASSISTANT HEADMASTER FOR ADMISSIONS 50.00 X 202550 0 65557 GLENNY TORRES CONTROLLER 50.00 X 101167 0 12876 EMILY COLE-CHU MACSWAIN DEAN OF STUDENTS 50.00 X 102458 0 61177 CINDY NEVILLE DIRECTOR OF STUDENT HEALTH 50.00 X 120836 0 13724 804566 0 203948 6 0 1 0 CANEVARI CONSTRUCTION INC PO BOX 872 WARWICK NY 10990 CONSTRUCTION 501769 FACILITIES MAINTENANCE CORPORATION OF FL 72 AIRPORT DR WAPPINGERS FALLS NY 12590 CLEANING 184685 TCG SOLUTIONS 25 CAMELOT DRIVE WARWICK NY 10990 IT SERVICES 126750 AJM CABLING INC 163 BROOKSIDE FARM ROAD SUITE 202 NEWBURGH NY 12550 FIRE AND VIDEO SURVEILLANCE 108493 4 889431 428263 889431 TUITION AND FEES 611110 11875549 11875549 11875549 164505 164505 3438705 3114111 324594 324594 324594 35850 19474 16376 16376 SUMMER CAMPS AND RENTALS 532000 260270 247870 12400 MISCELLANEOUS INCOME 900099 76147 14065 62082 336417 13606872 11905990 247870 563581 2565645 2565645 447327 447327 4341978 3103199 894747 344032 173529 140474 24689 8366 696065 506622 159270 30173 347338 250778 81624 14936 10363 10363 70437 70437 4373 4373 43655 43655 114730 114730 248579 170408 71176 6995 81548 75024 5708 816 1105908 1017435 77414 11059 90205 25683 64522 79976 78241 1735 300440 276405 21031 3004 912496 839496 63875 9125 248774 228872 17414 2488 STUDENT LIVING EXPENSES 411524 411524 STUDENT ACTIVITIES 372714 372714 DEPARTMENTAL EXPENSES 185971 130980 54991 CREDIT LOSS EXPENSE 53580 53580 121339 64683 48863 7793 13028494 10311763 2273571 443160 404157 265789 85350 981360 1438772 38229 240261 23253931 13776700 9976517 9477231 5196827 6170950 22768 0 16619858 17678353 668556 1035768 2947676 3228490 4424349 4216440 227806 218938 8268387 8699636 X 6013067 6235684 2338404 2743033 8351471 8978717 16619858 17678353 X 578378 71636 -22768 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3308709 422977 456610 11498 4650 4172148 2655049 158692 510880 11237 4675 3308709 2741826 55885 273882 11715 404829 2655049 3495489 -390677 13336 349650 2741826 2904712 610597 13775 6045 3495489 0.85747 0.14253 0.00000 1 0 268916 268916 18452214 10841988 7610226 2278488 1475685 802803 2254313 1459027 795286 9477231 STUDENT CREDIT BALANCES 89401 LINE OF CREDIT 50000 FINANCE LEASE LIABILITIES 79537 218938 X 11065914 71636 -2588413 -2516777 13582691 43655 -19474 24181 13606872 10438668 19474 19474 10419194 43655 2565645 2609300 13028494 PART V, LINE 4: THE SCHOOL'S ENDOWMENT CONSISTS OF FOUR INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY GAAP, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES AS A PUBLIC CHARITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS ORGANIZED UNDER SECTION 519 OF THE NEW YORK STATE NOT-FOR-PROFIT CORPORATION LAW. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE. THE SCHOOL'S FEDERAL INFORMATION RETURNS PRIOR TO FISCAL YEAR 2022 ARE CLOSED AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. IF THE SCHOOL HAD UNRELATED BUSINESS INCOME TAXES, IT WOULD RECOGNIZE INTEREST AND PENALTIES ASSOCIATED WITH ANY TAX MATTERS AS PART OF THE INCOME TAX PROVISION AND INCLUDE ACCRUED INTEREST AND PENALTIES WITH THE RELATED TAX LIABILITY IN THE STATEMENTS OF FINANCIAL POSITION. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID, SCHOLARSHIPS AND TUITION REMISSION -2,565,645. CHANGE IN VALUE OF INTEREST RATE SWAP -22,768. UNCOLLECTIBLE PLEDGES PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -19,474. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOOD SOLD 19,474. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID, SCHOLARSHIPS AND TUITION REMISSION 2,565,645. 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 POSTS ITS NONDISCRIMINATION POLICY ON ITS WEBSITE. 1 FINANCIAL AID AND SCHOLARSHIPS 85 2565645 N/A N/A PART I, LINE 2: MOST FUNDS ARE DISTRIBUTED AS CREDITS AGAINST CHARGES ON STUDENT ACCOUNTS, AND ARE MOSTLY FOR PURCHASES OF TUITION, LAPTOP COMPUTERS, TEXTBOOKS OR MEDICAL INSURANCE. THE FINANCIAL AID OFFICERS AND THE STUDENTS' ADVISORS MEET REGULARLY WITH THE STUDENTS RECEIVING AID TO REVIEW ANY EXPENSES. X 1 1 X X 0 0 0 0 0 0 0 0 1 1 MAREK PRAMUKA ASSISTANT HEADMASTER FOR ADMISSIONS 190051 0 0 0 12499 0 9503 0 56054 0 268107 0 0 0 RAYMOND HECHT ASSISTANT HEAD FOR FINANCE 146970 0 0 0 23000 0 8499 0 7682 0 186151 0 0 0 EMILY COLE-CHU MACSWAIN DEAN OF STUDENTS 102458 0 0 0 0 0 5123 0 56054 0 163635 0 0 0 PART I, LINE 1A FOR THE BENEFIT AND CONVENIENCE OF THE SCHOOL AND AS A CONDITION OF THEIR EMPLOYMENT, THE HEAD OF SCHOOL, ASSISTANT HEAD OF SCHOOL FOR ADMISSIONS AND DEAN OF STUDENTS ARE PROVIDED WITH ON-CAMPUS RESIDENCES AT THE SCHOOL'S EXPENSE. FOR THE CONVENIENCE OF THE SCHOOL, THESE RESIDENTS ARE READILY AVAILABLE AND USED FOR SCHOOL-RELATED ORDINARY AND NECESSARY BUSINESS FUNCTIONS ON A REGULAR AND CONTINUING BASIS. THE VALUE OF THIS BENEFIT IS INCLUDED AS A NON-TAXABLE BENEFIT IN SCHEDULE J, PART II, COLUMN D. PART I, LINE 8 LISA SHAMBAUGH IS IN HER INITIAL EMPLOYMENT AGREEMENT AS HEAD OF SCHOOL OF STORM KING SCHOOL EFFECTIVE AS OF JULY 1, 2024, FOR AN INITIAL TERM OF 3 YEARS. X 2 413984 FMV X CONTRIBUTED SUPPLIES 3 14279 FMV 0 0 0 0 PART I, COLUMN (B): THE AMOUNT REPORTED IN PART I, COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL BE COMPRISED OF THE CHAIR, FIRST, SECOND, OR THIRD VICE CHAIR, SECRETARY, TREASURER, HEAD OF SCHOOL AND SUCH OTHER TRUSTEES AND OFFICERS AS THE REST OF THE EXECUTIVE COMMITTEE SHALL DETERMINE APPROPRIATE. THE EXECUTIVE COMMITTEE SHALL ASSIST THE BOARD OF TRUSTEES AND SHALL, IF APPROPRIATE IN CASE OF AN EMERCENCY ACT IN LIEU OF THE BOARD, ABSENT A QUORUM OF THAT BOARD, SUBJECT TO SUBSEQUENT RATIFICATION OF THAT BOARD, AS PROVIDED IN THE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE REVIEWS THE 990 DOCUMENTS AND THEN WITH ANY SUGGESTED CHANGES OR ISSUES (IF ANY) IT GOES TO THE BOARD FOR VOTE TO ACCEPT/REJECT. FORM 990, PART VI, SECTION B, LINE 12C ANY TRUSTEE, OFFICER, COMMITTEE MEMBER OR KEY EMPLOYEE WITH A POTENTIAL CONFLICT OF INTEREST SHALL GIVE PROMPT, FULL AND FRANK DISCLOSURE OF HIS/HER INTEREST TO THE BOARD OR A COMMITTEE PRIOR TO THE CONTRACT OR OTHER TRANSACTION BEING PRESENTED TO THE BOARD OR COMMITTEE FOR AUTHORIZATION, APPROVAL OR RATIFICATION. THE BOARD SHALL THEREUPON DETERMINE, BY MAJORITY VOTE, WHETHER THE DISCLOSURE SHOWS THAT A CONFLICT OF INTEREST EXISTS OR CAN REASONABLY BE CONSTRUED TO EXIST. IF A CONFLICT OF INTEREST IS DEEMED TO EXIST, SUCH PERSON SHALL NOT VOTE ON NOR USE HER/HIS PERSONAL INFLUENCE ON, NOR PARTICIPATE (OTHER THAN TO PRESENT FACTORIAL INFORMATION OR TO RESPOND TO QUESTIONS) IN THE DISCUSSIONS OR DELIBERATIONS WITH RESPECT TO SUCH CONTRACT OR TRANSACTIONS. SUCH PERSON ALSO MAY NOT BE PRESENT AT A BOARD OR COMMITTEE MEETING ON THE MATTER GIVING RISE TO THE CONFLICT OF INTEREST. IN ADDITION, SHOULD A TRUSTEE HAVE EVIDENCE THAT ANOTHER TRUSTEE, OFFICER, COMMITTEE MEMBER, KEY EMPLOYEE WHO HAS NOT MADE A DISCLOSURE, MIGHT POSSIBLY HAVE A CONFLICT OF INTEREST, IT IS HIS/HER RESPONSIBILITY TO BRING THIS TO THE ATTENTION OF THE BOARD OF TRUSTEES. THE MINUTES OF THE MEETING SHALL REFLECT ANY ALLEGATION OF OR ANY ACTUAL CONFLICT OF INTEREST DISCLOSURE THAT WAS MADE, THE VOTE THEREON AND, WHERE APPLICABLE, THE ABSTENTION FROM VOTING, PARTICIPATION AND ATTENDANCE, AND WHETHER A QUORUM WAS PRESENT. ALL TRUSTEES, OFFICERS, COMMITTEE MEMBERS AND KEY EMPLOYEES OF THE SCHOOL SHALL SUBMIT ANNUALLY TO THE SECRETARY OF THE BOARD (AND TRUSTEES SHALL SUBMIT THEM PRIOR TO OR AT THE TIME OF THEIR INITIAL ELECTION), A FULLY COMPLETED CONFLICT OF INTEREST STATEMENT WHICH SHALL INCLUDE, AT A MINIMUM, THE FOLLOWING: (I) A WRITTEN SUMMARY OF HOLDINGS, OR POSITIONS OR FUNCTIONS THAT WOULD GIVE RISE TO A CONFLICT OF INTEREST, INCLUDING INDICATING ANY ENTITY WHERE THE PERSON IS AN OFFICER, DIRECTOR, MEMBER, OWNER (SOLE OR PARTNER) OR EMPLOYEE WITH WHICH THE SCHOOL HAS A RELATIONSHIP; AND (II) ANY TRANSACTION IN WHICH THE SCHOOL IS A PARTICIPANT AND IN WHICH THE TRUSTEE MIGHT HAVE A CONFLICT INTEREST. THE SECRETARY OF THE BOARD SHALL PROVIDE A COPY OF ALL COMPLETED CONFLICT OF INTEREST STATEMENTS TO THE CHAIR OF THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL HAS A COMPENSATION COMMITTEE THAT IS CHAIRED BY THE CHAIR OF THE BOARD OF TRUSTEES. THE COMMITTEE REVIEWS STATISTICAL DATA FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS AND INFORMATION FROM FORMS 990 OF OTHER INDEPENDENT SCHOOLS TO PROVIDE COMPARATIVE DATA IN DETERMINING COMPENSATION. A PERFORMANCE REVIEW IS ALSO COMPLETED. THIS PROCESS WAS MOST RECENTLY UNDERTAKEN IN JUNE 2023, RESULTING IN A ONE-YEAR EMPLOYMENT AGREEMENT EXTENSION FOR THE HEAD OF SCHOOL THROUGH JUNE 30, 2024. THE CHAIR OF THE BOARD OF TRUSTEES AND THE HEAD OF SCHOOL ANNUALLY REVIEW DATA FROM COMPARABLE SCHOOLS TO ENSURE THAT SENIOR MANAGEMENT COMPENSATION IS IN LINE WITH OTHER SIMILAR SCHOOLS. THE COMPENSATION COMMITTEE REVIEWS THE PERTINENT DATA AND THE DECISION PROCESS WITH THE HEAD OF SCHOOL FOR SENIOR MANAGEMENT COMPENSATION. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP -22,768.