2024-02-14T11:19:38-06:00 2023-06-30 541517420 WALL EINHORN & CHERNITZER PC 150 W MAIN ST SUITE 1200 NORFOLK VA 23510 990 2022-07-01 540806413 NORFOLK COLLEGIATE SCHOOL NORF 7575830919 7336 GRANBY STREET NORFOLK VA 23505 SCOTT KENNEDY HEAD OF SCHOOL 7575830919 2024-02-08 1 SCOTT KENNEDY 999009999 1 JOHN M WATERS P01334859 7576254700 2024-02-08 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z SCOTT KENNEDY 7336 GRANBY STREET NORFOLK VA 23505 14075522 0 X WWW.NORFOLKCOLLEGIATE.ORG X 1948 VA TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND. 24 24 222 24 0 0 1426571 1151797 12027011 12374637 95821 81632 282586 246250 13831989 13854316 1965415 1998833 0 0 6155045 6408257 0 0 508361 5436911 5764865 13557371 14171955 274618 -317639 25101783 24797275 8821672 8528833 16280111 16268442 TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND. 0 0 11743406 1998833 12375637 OPERATION OF A PRIVATE SCHOOL WITH AN APPROXIMATE ENROLLMENT OF 600 STUDENTS. 11743406 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 23 0 1 222 1 0 0 0 0 0 0 0 0 0 0 0 0 X 24 24 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X X THE ORGANIZATION 7575830919 7336 GRANBY STREET NORFOLK VA 23505 TAYLOR FRANKLIN VISE PRESIDENT 2.00 X X 0 0 0 LANGBOURNE WILLIAMS CHAIRMAN 2.00 X X 0 0 0 WILLIAM L TALIAFERRO JR TRUSTEE 2.00 X 0 0 0 ALISON CARLSMITH SECRETARY 2.00 X X 0 0 0 GEORGE M RECTOR TRUSTEE 2.00 X 0 0 0 WILLIAM B BROCK TRUSTEE 2.00 X 0 0 0 BRIAN M CLEMENTS TREASURER 2.00 X X 0 0 0 GREG MURPHY TRUSTEE 2.00 X 0 0 0 PAMELA E CRENSHAW TRUSTEE 2.00 X 0 0 0 KENNETH L EDMOND TRUSTEE 2.00 X 0 0 0 VIRGINIA HITCH TRUSTEE 2.00 X 0 0 0 MARC A HRISKO TRUSTEE 2.00 X 0 0 0 KEITH NEWBY TRUSTEE 2.00 X 0 0 0 THOMAS E MATHAS TRUSTEE 2.00 X 0 0 0 RICHARD P MEREDITH JR TRUSTEE 2.00 X 0 0 0 THOMAS MINTON III TRUSTEE 2.00 X 0 0 0 DR SHARON B REED TRUSTEE 2.00 X 0 0 0 MORGAN REDD TRUSTEE 2.00 X 0 0 0 KASEY E ROSEN TRUSTEE 2.00 X 0 0 0 JOHN F SAWYER TRUSTEE 2.00 X 0 0 0 ANDREW A PROTOGYROU TRUSTEE 2.00 X 0 0 0 DR ELIZABETH RUTH SMITH TRUSTEE 2.00 X 0 0 0 TRINA S STEWART TRUSTEE 2.00 X 0 0 0 LEVI THOMSON TRUSTEE 2.00 X 0 0 0 SCOTT G KENNEDY HEAD OF SCHOOL 60.00 X 234537 0 15146 ANNE CLAYWELL HEAD OF UPPER SCHOOL 40.00 X 105505 0 694 STACY NIXON ASSISTANT HEAD FOR ADVANCE 40.00 X 137999 0 1535 CARY SAWYER DIRECTOR OF FINANCE AND OP 40.00 X 127306 0 9464 605347 0 26839 4 0 1 0 FLIK DINING SERVICES PO BOX 417632 BOSTON MA 02241 FOOD SERVICE 809255 THE BUDD GROUP INC PO BOX 890856 CHARLOTTE NC 28289 BUILDING & MAINTENANCE 743446 SILBAR SECURITY 133 KEMPSVILLE ROAD CHESAPEAKE VA 23320 SECURITY SERVICES 140016 BLACKBAUD P O BOX 844827 BOSTON MA 02284 SOFTWARE PROGRAMS 107007 3 1151797 128742 1151797 TUITION 611710 12235916 12235916 AUXILIARY SERVICES 611710 138721 138721 12374637 81632 81632 124460 38496 85964 85964 85964 341996 182710 159286 159286 OTHER INCOME 611710 1000 1000 1000 13854316 12375637 0 326882 1998833 1998833 256739 195311 42722 18706 5384485 4096188 848945 439352 301609 229445 72164 465424 332859 104688 27877 13915 13915 1172968 857638 298373 16957 114412 114412 43297 43297 338698 335188 3510 6634 3349 3285 174365 174365 750250 750250 107157 107157 SCHOLARSHIPS 777806 777806 DINING SERVICES 709119 709119 ATHLETIC DEPARTMENT 367994 367994 LEARNING RESOURCE PROGR 213012 213012 975238 598241 374813 2184 14171955 11743406 1920188 508361 3693935 3524862 334368 266372 448236 378306 51563 32032 32442 35418 168436 170472 31850770 14967075 17483313 16883695 2761603 3355694 127887 150424 25101783 24797275 760620 765283 2722130 2681365 5189535 4905591 149387 149384 0 27210 8821672 8528833 X 13544553 13310270 2735558 2958172 16280111 16268442 25101783 24797275 X -317639 313777 -7807 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2375618 147971 356496 93676 2786409 2638878 114649 -278576 99333 2375618 2169407 7179 573450 111158 2638878 3502202 2639 38067 1373501 2169407 4059147 21698 336922 915565 3502202 0.02393 0.39183 0.58424 0 0 2674688 2674688 27042228 13143963 13898265 1863432 1690549 172883 270422 132563 137859 16883695 LEASE LIABILITY 27210 27210 X 12368744 313777 213399 527176 11841568 13915 1998833 2012748 13854316 12380413 221206 221206 12159207 13915 1998833 2012748 14171955 PART V, LINE 4: ENDOWMENTS ARE MAINTAINED FOR VARIOUS REASONS SUCH AS STUDENT SCHOLARSHIPS, FINANCIAL ASSISTANCE, AND FACULTY SALARIES. THE SCHOOL'S ENDOWMENT CONSISTS OF MULTIPLE INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT INCLUDES DONOR-RESTRICTED ENDOWMENT FUNDS. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT ON NET INCOME DERVIED FROM UNRELATED BUSINESS ACTIVITIES. INTERNAL REVENUE CODE SECTION 513(A) DEFINES AN UNRELATED TRADE OR BUSINESS OF AN EXEMPT ORGANIZATION AS ANY TRADE OR BUSINESS WHICH IS NOT SUBSTANTIALLY RELATED TO THE EXERCISE OR PERFORMANCE OF ITS EXEMPT PURPOSE. CURRENTLY, THE SCHOOL HAS NO OBLIGATION FOR ANY UNRELATED BUSINESS INCOME TAX. THE SCHOOL BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS; HOWEVER, ANY PENALTIES AND INTEREST INCURRED AS A RESULT OF UNCERTAIN TAX POSITIONS WOULD BE RECORDED IN GENERAL AND ADMINISTRATIVE EXPENSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 182,710. RENTAL EXPENSES 38,496. CHANGE IN INTEREST IN NET ASSETS OF RECIPIENT ORGANIZATION -7,807. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,998,833. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 182,710. RENTAL EXPENSES 38,496. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,998,833. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 NEWSPAPER ADVERTISEMENT COLLEGIATE CORNER 149652 149652 31368 72156 AUCTION 99541 99541 849 24132 28318 2 92803 92803 374 25513 341996 341996 849 55874 125987 182710 159286 1 NEED BASED FINANCIAL AID FOR TUITION 226 1998833 PART I, LINE 2: THE SCHOOL HAS A FINANCIAL AID POLICY THAT IS USED TO MONITOR THE USE OF FINANCIAL AID. X X X X 0 0 0 0 0 0 0 0 0 SCOTT G KENNEDY HEAD OF SCHOOL 234537 0 0 0 0 0 0 0 0 0 234537 0 0 0 A NORFOLK AIRPORT AUTHORITY BOND SERIES 2022 546001465 2022-03-28 5283000 BUILDINGS AND STRUCTURES 0 1 0 A 377409 5283000 95354 5187646 0 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 A 0 X 7 83017 FMV X SUPPLIES 117 45725 FMV 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS, NOT THE NUMBER OF ITEMS RECEIVED. FORM 990, PART VI, SECTION A, LINE 6 THE SCHOOL HAD BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THERE IS A COMMITTEE OF TRUSTEES THAT OVERSEES BOARD MEMBERSHIP. THE NEEDS OF THE BOARD/SCHOOL ARE ALWAYS REVIEWED FOR ITEMS SUCH AS GEOGRAPHIC/WORK/GENDER/DIVERSITY. THIS COMMITTEE SOLICITS MEMBERS FROM WITHIN THE COMMUNITY (OTHER BOARD, STAFF). THE COMMITTEE REVIEWS THEIR ATTRIBUTES AS BEING A PART OF THE BOARD. THEY ARE ALSO INTERVIEWED BY THE BOARD CHAIR AND COMMITTEE ON TRUSTEE CHAIR PRIOR TO BEING PRESENTED TO BOARD FOR VOTING APPROVAL. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD NORMALLY WORKS THROUGH A COMMITTEE STRUCTURE WHICH INCLUDES ADVANCEMENT, BUILDING & GROUNDS, FINANCE, STUDENT LIFE, AND GOVERNANCE. INITIALLY MOST ITEMS ARE DISCUSSED AND BROUGHT TO THE COMMITTEE LEVEL FOR BACKGROUND, RESEARCH, AND REVIEW. AREAS THAT REQUIRE APPROVAL ARE VOTED ON BY COMMITTEE, TAKEN TO THE EXECUTIVE COMMITTEE FOR DISCUSSION/VOTE, AND THEN TAKEN TO THE FULL BOARD FOR DISCUSSION/VOTE. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE AUDIT COMMITTEE PRIOR TO ITS FILING. IT IS ALSO AVAILABLE TO THE BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, BOARD MEMBERS ARE REQUIRED TO SUBMIT CONFLICT OF INTEREST STATEMENTS (REFLECTING NONE OR STATED CONFLICTS) TO THE GOVERNANCE COMMITTEE CHAIR. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR ADMINISTRATIVE POSITIONS IS BENCHMARKED USING SEVEN CRITERIA FIELDS OF SALARY BY POSITION FROM NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL AND VIRGINIA ASSOCIATION OF INDEPENDENT SCHOOLS. FOR ADMINISTRATIVE POSITIONS, THE MEDIAN OF THAT DATA IS USED AS A BENCHMARK FOR SALARY DETERMINATION WITHIN THE BUDGET GUIDELINES AND OVERALL STAFF AND FACULTY COST OF LIVING GUIDELINES FOR EACH FISCAL YEAR. HEAD OF SCHOOL COMPENSATION ALSO USED THE BENCHMARKING CRITERIA AND IS REVIEWED AND SET BY A COMPENSATION COMMITTEE OF BOARD MEMBERS. FORM 990, PART VI, SECTION C, LINE 19 NORFOLK COLLEGIATE SCHOOL PROVIDES AND REVIEWS GOVERNING DOCUMENTS AND ITS CONFLICT OF INTEREST POLICY WITH THE BOARD OF TRUSTEES MEMBERS ANNUALLY. THE ANNUAL FINANCIAL STATEMETNS ARE PRESENTED TO THE BOARD OF TRUSTEES AUDIT COMMITTEE, WHO SUBSEQUENTLY PRESENTS THE FINANCIALS TO THE FINANCE COMMITTEE AND THE EXECUTIVE BOARD OF THE TRUSTEES. THE ANNUAL FINANCIAL STATEMENTS ARE ALSO AVAILABLE FOR REVIEW BY ALL MEMBERS OF THE BOARD OF TRUSTEES UPON PRESENTATION TO THE AFOREMENTIONED COMMITTEES. ALL OF THESE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN INTEREST IN NET ASSETS OF RECIPIENT ORGANIZATION -7,807. FORM 990; PART XII; LINE 2C THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT. THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE YEAR. NORFOLK COLLEGIATE EDUCATIONAL FOUNDATION INC 7336 GRANBY STREET NORFOLK VA 23505 541893594 PROVIDE GRANTS TO NORFOLK COLLEGIATE SCHOOL FOR NEED-BASED FINANCIAL AID. VA 501(C)(3) LINE 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0