2024-10-17T15:44:29-05:00 2024-06-30 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 500 MAMARONECK AVENUE SUITE 301 HARRISON NY 105281633 990 2023-07-01 221489901 FAR HILLS COUNTRY DAY SCHOOL FARH 9087660622 ROUTE 202 PO BOX 8 FAR HILLS NJ 07931 LORI FITZGIBBON CFO 9087660622 2024-10-17 1 1 MELISSA MODELSON P01603524 9143818900 2024-10-17 2023 2024-10-15 13:58:12Z GEORGIA ZAISER ROUTE 202 PO BOX 8 FAR HILLS NJ 07931 11709229 0 X WWW.FHCDS.ORG X 1929 NJ FAR HILLS COUNTRY DAY SCHOOL PROVIDED AN EDUCATION TO 239 STUDENTS IN GRADES PREK - GRADE 8 DURING THE TAX YEAR WITH THE MISSION OF THE SCHOOL AND THE PILLARS AS THE GUIDING PRINCIPLES. THROUGH ACADEMIC EXCELLENCE AND CHARACTER DEVELOPMENT, FAR HILLS COUNTRY DAY SCHOOL PROVIDES EACH CHILD BRILLIANT BEGINNINGS FOR SUCCESS IN THE MODERN WORLD. FAR HILLS COUNTRY DAY SCHOOL PROVIDES A CURRICULUM THAT SUPPORTS ACADEMIC EXCELLENCE AS WELL AS EMOTIONAL INTELLIGENCE. FAR HILLS ALSO PROVIDES A CHARACTER-BASED EDUCATION THROUGH THE PILLARS OF CHARACTER: RESPECT, RESPONSIBILITY, LEADERSHIP, KINDNESS, HONESTY. THE FIVE PILLARS OF CHARACTER PERMEATE EVERYDAY LIFE AT FAR HILLS. OUR COMMITMENT TO THE PILLARS IS FUNDAMENTAL TO MAKING OUR COMMUNITY STRONG AND THE WORLD A BETTER PLACE 16 14 114 97 0 0 1739591 1296942 11030150 9674141 124753 156836 235633 302640 13130127 11430559 1846106 1425916 0 0 7085746 6707904 0 0 801520 4650713 4699130 13582565 12832950 -452438 -1402391 48123885 47666822 7068143 6768704 41055742 40898118 X THROUGH ACADEMIC EXCELLENCE AND CHARACTER DEVELOPMENT, FAR HILLS COUNTRY DAY SCHOOL PROVIDES EACH CHILD BRILLIANT BEGINNINGS FOR SUCCESS IN THE MODERN WORLD. 0 0 9504388 1425916 9543637 FAR HILLS COUNTRY DAY SCHOOL CHALLENGES STUDENTS TO THINK INDEPENDENTLY AND ACHIEVE CONFIDENTLY. THE SCHOOL'S SHARED GROWTH MINDSET CONTRIBUTES TO ITS EXPERIENTIAL, STUDENT-CENTERED APPROACH TO LEARNING, ITS WELCOMING COMMUNITY OF FAMILIES, AND ITS FOCUS ON DEVELOPING INDIVIDUAL STRENGTHS. AT FAR HILLS, STUDENTS ARE EMPOWERED TO GROW INWARD, OUTWARD, AND UPWARD AND GRADUATE PREPARED TO LEAD AT THE COUNTRY'S MOST COMPETITIVE SECONDARY SCHOOLS. THE ACADEMIC JOURNEY STARTS IN PRESCHOOL AND CONTINUES THROUGH GRADE 8. STUDENTS EXPLORE AND STUDY A VARIETY OF SUBJECTS, INCLUDING MATH, SCIENCE, LANGUAGE ARTS, STEAM, ART, SOCIAL STUDIES, AND HISTORY, AND MORE.THE SCHOOL PROVIDED 239 ENROLLED STUDENTS WITH EDUCATIONAL SERVICES, PROGRAMMING, AND OTHER STUDENT-CENTERED OFFERINGS DURING FY2024. THE SCHOOL ALSO PROVIDED 239 ENROLLED STUDENTS WITH HEALTHY MEALS AND SNACKS, AS PART OF THE PROGRAM DURING FY2024.OTHER ACCOMPLISHMENTS AND HIGHLIGHTS INCLUDE OUR SIGNATURE ADVENTURE TRIPS FOR GRADES 5-8 AND CAPSTONE PROJECTS WHICH INCLUDE PRESENTATIONS IN THE FORM OF EXPO'S WHERE THE ENTIRE SCHOOL AND PARENT BODIES CAN VIEW THE WORK OF THE STUDENTS. 71066 0 78616 MUSIC CONSERVATORYTHE SCHOOL OFFERS A MUSIC PROGRAM AVAILABLE TO ALL ENROLLED STUDENTS WITH AN AVERAGE OF 45 REGISTERED FOR MUSIC LESSONS IN THE FALL AND SPRING. 36675 0 51602 OTHER AUXILIARY SERVICES AFTER SCHOOL CARE, ENRICHMENT WORKSHOPS, HOMEWORK CLUB, SUMMER PROGRAMS. 9612129 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 26 1 1 114 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 16 14 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 NJ X X LORI FITZGIBBON CFO 9087660622 ROUTE 202 PO BOX 8 FAR HILLS NJ 07931 GEORGIA ZAISER HEAD OF SCHOOL 60.00 X X 304565 0 84337 JOE FERRARO CHAIR 10.00 X X 0 0 0 COLLEEN MCCLOSKEY VICE-CHAIR 4.00 X X 0 0 0 DIANE CALELLO SECRETARY 3.00 X X 0 0 0 MICHAEL VOLLERO TREASURER 1.00 X X 0 0 0 RICH ANTONECK TRUSTEE 2.00 X 0 0 0 ROHAN ARJUN TRUSTEE 2.00 X 0 0 0 STEPHANIE GLICKMAN TRUSTEE 3.00 X 0 0 0 CRAIG HALL TRUSTEE 1.00 X 0 0 0 DR TIM ISGRO TRUSTEE 4.00 X 0 0 0 PRISCILLA MILLER TRUSTEE 2.00 X 0 0 0 LIZ MORRISON TRUSTEE 2.00 X 0 0 0 YVONNE PREVIDI TRUSTEE 3.00 X 0 0 0 LAURA VAN ROOYEN TRUSTEE 2.00 X 0 0 0 ENZO VARTULI TRUSTEE 2.00 X 0 0 0 CLAYTON WALTON TRUSTEE 1.00 X 0 0 0 LORI A FITZGIBBON CFO 50.00 X 173550 0 20913 PATRICIA BARRY DIRECTOR OF LOWER SCHOOL 50.00 X 154606 0 19824 LINDA CORCORAN DIR. ENGAGEMENT & PHILANTHROPY 50.00 X 124707 0 32638 EDWARD J THOMPSON DIR. PLACEMENT AND OPERATIONS 50.00 X 119027 0 14006 RONALD M SANSONE DIRECTOR OF ATHLETICS 50.00 X 109631 0 27497 EMILY SEELAUS DIRECTOR OF UPPER SCHOOL 50.00 X 104997 0 3913 OLIVER FORSYTHE DIRECTOR OF TECHNOLOGY 50.00 X 103537 0 12795 1194620 0 215923 8 0 1 0 BROCK & COMPANY INC 257 GREAT VALLEY PARKWAY MALVERN PA 19355 FOOD SERVICES 449879 DEX AND CO LLC 90 GROVE STREET UNIT 2 SOMERVILLE NJ 08876 JANITORIAL SERVICES 256740 ACTIVE INTERNET TECHNOLOGIES LLC PO BOX 783838 PHILADELPHIA PA 191783838 WEBSITE DESIGN SERVICES 164338 TLP CLIMATE CONTROL SYSTEMS INC 400 RIKE DRIVE MILLSTONE TOWNSHIP NJ 08535 MAINTENANCE SERVICES 100408 4 227466 101325 968151 203236 1296942 TUITION AND FEES 611600 9056161 9056161 AUXILIARY SERVICES 611600 617980 617980 9674141 157254 157254 74688 9681 65007 65007 65007 129813 130231 -418 -418 -418 54937 227466 84554 -29617 -29617 49570 11264 38306 38306 42654 42940 -286 -286 TUITION FORFEITURE 900099 184940 184940 OTHER REVENUE 900099 38260 38260 REBATES & REWARDS 900099 6030 6030 229230 11430559 9673855 0 459762 1425916 1425916 699701 300004 297365 102332 4750034 3180999 1103997 465038 161769 109168 36878 15723 688703 519171 119341 50191 407697 261028 104273 42396 13738 13738 40150 40150 207131 141739 52587 12805 136077 136077 362010 351181 10750 79 424050 394367 25443 4240 644366 483275 154648 6443 53987 51465 2422 100 26633 26633 118534 116510 2024 1308519 981385 314045 13089 234653 175989 56317 2347 FOOD SERVICES 478014 478014 REPAIRS AND MAINTENANCE 310812 233109 74595 3108 STUDENT SUPPORT AND ACT 108658 108658 PROGRAMS, WORKSHOPS AND 108435 108435 123363 29006 10728 83629 12832950 9612129 2419301 801520 39641 56622 4821167 4987879 784505 352924 956574 481401 49260 41098 212330 129443 46223601 19972286 27197866 26251315 14062542 15366140 48123885 47666822 820301 798339 2466591 2187090 3781251 3783275 7068143 6768704 X 36484239 36037072 4571503 4861046 41055742 40898118 48123885 47666822 X -1402391 1303598 -58831 X X 0 1 X 1 0 X 5103773 2116446 2081933 1739591 1296942 12338685 5103773 2116446 2081933 1739591 1296942 12338685 1567940 10770745 52795 16211 63294 180773 231942 545015 56918 329629 30456 144750 8689 570442 122448 44123 229230 395801 13849943 53019243 0.77770 0.76920 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: REBATES REWARDS - 2021 AMOUNT: $ 93,175. 2022 AMOUNT: $ 19,492. 2023 AMOUNT: $ 6,030. REFUNDS - 2021 AMOUNT: $ 29,167. 2022 AMOUNT: $ 5,056. OTHER REVENUE - 2021 AMOUNT: $ 106. 2022 AMOUNT: $ 19,575. 2023 AMOUNT: $ 38,260. TUITION FORFEITURE - 2023 AMOUNT: $ 184,940. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14102740 240000 1303598 264000 15382338 14034040 64900 824038 820238 14102740 15962979 125400 -1692756 361583 14034040 12077290 160850 3726645 1806 15962979 12535405 157742 -165810 450047 12077290 0.75049 0.19473 0.05478 0 0 1031029 1031029 42228323 17852115 24376208 2875676 2101223 774453 88573 18948 69625 26251315 INVESTMENT IN LIMITED PARTNERSHIP 15366140 F 15366140 X 11080872 1303598 53039 1356637 9724235 1706324 1706324 11430559 11238496 110733 110733 11127763 1705187 1705187 12832950 PART V, LINE 4: THE PURPOSE OF THE SCHOOL'S ENDOWMENT IS TO SUPPORT THE LONG TERM FINANCIAL STABILITY OF THE ORGANIZATION. PART X, LINE 2: THE SCHOOL RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE SCHOOL HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE SCHOOL IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO JUNE 30, 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD INCLUDED ON PART VIII. LINE 10B 42,940. RENTAL EXPENSES INCLUDED ON PART VIII, LINE 6B 9,681. LOSS FROM SALE OF SECURITIES INCLUDED ON PART VIII, LINE 7C 418. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIP INCLUDED ON PART IX, LINE 2 1,425,916. TUITION REMISSION INCLUDED ON PART IX, LINE 9 210,235. LOSS ON DISPOSAL OF ASSETS 1,137. RECLASS INDIRECT SPECIAL EVENTS EXPENSES TO PART IX 69,036. PART XII, LINE 2D - OTHER ADJUSTMENTS: WRITE OFF OF PLEDGE RECEIVABLE 57,694. COST OF GOODS SOLD INCLUDED ON PART VIII. LINE 10B 42,940. RENTAL EXPENSES INCLUDED ON PART VIII, LINE 6B 9,681. LOSS FROM SALE OF SECURITIES INCLUDED ON PART VIII, LINE 7C 418. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AND SCHOLARSHIP INCLUDED ON PART IX, LINE 2 1,425,916. TUITION REMISSION INCLUDED ON PART IX, LINE 9 210,235. RECLASS INDIRECT SPECIAL EVENTS EXPENSES TO PART IX 69,036. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL PUBLISHES ITS NONDISCRIMINATORY POLICY ON THE HOMEPAGE OF ITS WEBSITE. SCHEDULE E, PART I, LINE 6 THE SCHOOL RECEIVED ASSISTANCE FROM THE STATE OF NJ TO SUPPORT THE FUNDING OF BOOKS, INFORMATION TECHNOLOGY, SCHOOL NURSE SUPPORT, AND SECURITY FUNDING FOR SECURITY GUARDS. THIS FUNDING IS FOR ALL STUDENTS IN THE STATE OF NJ AND IS PART OF A STATE APPROPRIATION WITH A PER STUDENT AMOUNT FOR EACH CATEGORY. THE SCHOOL ALSO PARTICIPATES IN ERATE FUNDING WHICH IS ADMINISTERED THE USC (UNIVERSAL SERVICE ADMINISTRATIVE COMPANY). THIS PROGRAM ASSISTS IN FUNDING INTERNET ACCESS FOR SCHOOLS AND LIBRARIES. IT IS ESPECIALLY MEANT TO SERVE LOCATIONS WITH STUDENTS OF FAMILIES WITH INCOME BELOW THE NATIONAL SCHOOL LUNCH TABLE. FAR HILLS IS ALLOWED LIMITED PARTICIPATION, BUT STILL PARTICIPATES AND RECEIVES AID IN THE FORM OF INTERNET DISCOUNTS AND ASSISTANCE WITH CONNECTIVITY INFRASTRUCTURE COSTS. GOLF OUTING 179195 139075 40120 37840 11175 1344 FH PRESENTS - CASINO NIGHT 100041 88391 11650 682 12825 10380 10308 1 3167 3167 282403 227466 54937 38522 24000 10380 11652 84554 -29617 49570 11264 1 0.95000 49570 11264 11264 38306 NJ 1 0 1 0 0.00000 1.00000 KEVIN HEARNE PO BOX 8 FAR HILLS NJ 07931 0 EILEEN GROSS 2604 THE GAMING MANAGER ORGANIZED THE RAFFLE, FILED STATE PAPERWORK, OVERSAW THE RAFFLE AND VOLUNTEERS FOR ALL FUNDRAISING EVENTS. X 0 1 FINANCIAL ASSISTANCE 54 1408916 LOUIS STARR SCHOLARSHIP 1 17000 PART I, LINE 2: FINANCIAL ASSISTANCE THE SCHOOL FOLLOWS A FORMAL PROCESS TO DETERMINE THE ALLOCATION OF AVAILABLE MONIES FOR FINANCIAL ASSISTANCE. THE SCHOOL USES THIRD PARTY COMPANY THAT PROVIDES FINANCIAL AID ASSESSMENT SERVICES, IN THIS PROCESS. EACH FAMILY SUBMITS AN APPLICATION TO THE THIRD PARTY TOGETHER WITH THE FAMILY'S FINANCIAL SUPPORTING DOCUMENTATION, INCLUDING BUT NOT LIMITED TO THEIR COMPLETED 1040. THE THIRD PARTY DETERMINES AND MAKES RECOMMENDATIONS TO THE SCHOOL AS TO SUITABILITY FOR CONSIDERATION FOR FINANCIAL ASSISTANCE. THE SCHOOL REVIEWS THE RECOMMENDATIONS AND MAKES AWARDS BASED ON THE RECOMMENDATIONS AND AVAILABLE MONIES. THE STUDENT'S TUITION BILL IS REDUCED BY THE AMOUNT OF THE FINANCIAL AID AWARDED. LOUIS STARR SCHOLARSHIP A HIGH ACHIEVING MATHEMATICS STUDENT IS AWARDED WITH THE LOUIS STARR SCHOLARSHIP. THE STUDENT'S TUITION BILL IS REDUCED BY THE AMOUNT OF THE SCHOLARSHIP AWARDED. X 0 0 X X X X 0 0 0 0 0 0 0 0 0 GEORGIA ZAISER HEAD OF SCHOOL 296036 0 0 0 8529 0 10592 0 73745 0 388902 0 0 0 LORI A FITZGIBBON CFO 173352 0 0 0 198 0 6272 0 14641 0 194463 0 0 0 PATRICIA BARRY DIRECTOR OF LOWER SCHOOL 154477 0 0 0 129 0 5335 0 14489 0 174430 0 0 0 LINDA CORCORAN DIR. ENGAGEMENT & PHILANTHROPY 124578 0 0 0 129 0 4664 0 27974 0 157345 0 0 0 PART I, LINE 1A AS OUTLINED IN AN EMPLOYMENT AGREEMENT WITH THE SCHOOL, THE HEAD OF SCHOOL, IS REQUIRED TO RESIDE ON CAMPUS TO MEET THE ONGOING NEEDS OF THE SCHOOL COMMUNITY. THE SCHOOL PROVIDED THE HEAD OF SCHOOL WITH A HOUSING ALLOWANCE IN THE AMOUNT OF $58,800. THE HOUSING ALLOWANCE WAS TREATED AS NONTAXABLE COMPENSATION AND REPORTED ON SCHEDULE J, PART II, COLUMN B(III). 36100 FINANCIAL ASSISTANCE TUITION AID X 13639 COST X 3 130231 AVG. SELLING PRICE X SECURITY EQUIPMENT 1 48380 COST X TECHNOLOGY EQUIPMENT 1 10986 COST 0 0 1 0 PART I, COLUMN (B): THE NUMBER REPORTED IN PART I, COLUMN (B) IS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM WITH SUPPORT OF THE SCHOOL'S FINANCE TEAM. THE BOARD OF TRUSTEES DELEGATES THE REVIEW OF THE FORM 990 TO THE AUDIT COMMITTEE. THE AUDIT COMMITTEE REVIEWS AND APPROVES THE PUBLIC INSPECTION COPY OF THE FORM 990 PRIOR TO FILING WITH THE IRS. THE AUDIT COMMITTEE CHAIR INVITES COMMENTS AND DISCUSSION FROM THE COMMITTEE. THE AUDIT COMMITTEE CHAIR, DIRECTOR OF FINANCE, AND CONTROLLER DO A DETAILED REVIEW OF THE 990 AND HAS A WRAP-UP MEETING WITH THE OUTSIDE ACCOUNTING FIRM TO ACQUIRE ANY INFORMATION OR CONCERNS THEY MAY HAVE ENCOUNTERED DURING THEIR PREPARATION OF THE 990. FORM 990, PART VI, SECTION B, LINE 12C FAR HILLS COUNTRY DAY SCHOOL HAS A CONFLICT OF INTEREST POLICY THAT APPLIES TO ALL TRUSTEES, OFFICERS AND KEY EMPLOYEES. EACH TRUSTEE, OFFICER, AND KEY EMPLOYEE MUST ANNUALLY SIGN AND SUBMIT THE CONFLICT OF INTEREST STATEMENT TO THE CFO AND ASSISTANT TO THE HEAD OF SCHOOL DISCLOSING THEIR AWARENESS OF THE POLICY AND DISCLOSING ANY POTENTIAL CONFLICTS OF INTEREST. IF A POTENTIAL OR ACTUAL CONFLICT IS DISCLOSED AT ANY TIME, THE BOARD WILL REVIEW THE MATERIAL FACTS AND CIRCUMSTANCES AND FOLLOW-UP ON THE NON-COMPLIANCE. IF IT IS ESTABLISHED THAT AN ACTUAL CONFLICT EXISTS, THE INDIVIDUAL WILL BE NOTIFIED IMMEDIATELY AND WILL NOT BE ALLOWED TO VOTE OR BE A PART OF ANY DISCUSSIONS ABOUT ANY SUCH TRANSACTIONS THAT HAVE TO DO WITH THE CONFLICT UNTIL THE CONFLICT IS RESOLVED. ANY DISCUSSION REGARDING THE CONFLICT OF INTEREST TRANSACTION IS DOCUMENTED IN THE MINUTES OF THE BOARD MEETINGS, REFLECTING THE CONFLICT OF INTEREST THAT WAS DISCLOSED, THE NAME OF THE INTERESTED PERSON, AND THE FINAL DETERMINATION AND DECISION. FORM 990, PART VI, SECTION B, LINE 15A THE HEAD OF SCHOOL'S COMPENSATION IS ESTABLISHED BY THE BOARD OF TRUSTEES GOVERNANCE COMMITTEE AND BOARD CHAIR. IN DETERMINING THE HEAD OF SCHOOL'S COMPENSATION, THE COMMITTEE USE AN ASSESSMENT SURVEY OF THE HEAD OF SCHOOL AND COMPENSATION STUDY OF SIMILAR POSITIONS IN THE SAME GEOGRAPHIC AREA. THE COMPENSATION DECISION DOCUMENTED IN THE RECORDS OF THE ORGANIZATION. THIS PROCESS WAS LAST COMPLETED IN FISCAL YEAR 2024. FOR OTHER OFFICERS, THE HEAD OF SCHOOL REGULARLY REVIEWS THE PUBLISHED SALARY RANGES IN THE SAME GEOGRAPHIC AREA FOR SIMILAR POSITIONS. COMPENSATION FOR OTHER OFFICERS IS DETERMINED BY THE HEAD OF SCHOOL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST OR BY CALLING. THE FORM 990 IS ALSO AVAILABLE ON WWW.GUIDESTAR.ORG AND OTHER SIMILAR WEBSITES. FORM 990, PART XI, LINE 9: LOSS ON DISPOSAL OF ASSETS -1,137. WRITE OFF PLEDGE RECEIVABLE -57,694. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.