2024-04-22T09:29:06-05:00 2023-06-30 251467156 SISTERSON & CO LLP 310 GRANT STREET PITTSBURGH PA 15219 990 2022-07-01 250965329 THE ELLIS SCHOOL ELLI 4124412593 6425 FIFTH AVENUE PITTSBURGH PA 15206 MACON PAINE FINLEY HEAD OF SCHOOL 4124412593 2024-04-02 1 MACON PAINE FINLEY 999009999 0 MELISSA PUGNE P01288890 4122812025 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z MACON PAINE FINLEY 6425 FIFTH AVENUE PITTSBURGH PA 15206 24985426 0 X WWW.THEELLISSCHOOL.ORG X 1916 PA AN INDEPENDENT COLLEGE PREPARATORY SCHOOL FOR GIRLS FROM AGE THREE THROUGH TWELFTH GRADE. 20 20 174 0 -537 0 2032873 1173060 10692594 11268760 2384190 529405 180734 204154 15290391 13175379 3416064 3967574 0 0 6941654 7399991 0 0 567043 3332256 3796617 13689974 15164182 1600417 -1988803 51297990 51904488 7000102 6752366 44297888 45152122 X AN INDEPENDENT COLLEGE PREPARATORY SCHOOL FOR GIRLS FROM AGE THREE THROUGH TWELFTH GRADE. 0 0 13321364 3967574 11268760 THE ELLIS SCHOOL IS PITTSBURGH'S ONLY AGE 3 TO GRADE 12 INDEPENDENT SCHOOL DEDICATED TO THE EDUCATION OF GIRLS, MAKING ELLIS A UNIQUE REGIONAL RESOURCE. ELLIS IS COMMITTED TO PREPARING, EMPOWERING, AND INSPIRING EACH AND EVERY GIRL THROUGH AN EXCELLENT EDUCATION IN AN ALL-GIRLS ENVIRONMENT. THE ELLIS EXPERIENCE IS BOTH NURTURING AND ACADEMICALLY CHALLENGING; ELLIS GIRLS ARE FREE TO KNOW THEMSELVES, DISCOVER THEIR GIFTS, AND FIND THEIR OWN VOICES, ALL OF WHICH MAXIMIZE GIRLS' INTELLECTUAL, PHYSICAL, EMOTIONAL, AND SOCIAL GROWTH. AT ELLIS, GIRLS OF ALL AGES LEARN TO TAKE ACADEMIC RISKS, WORK COLLABORATIVELY, ASK QUESTIONS, AND PURSUE THEIR DREAMS. WITH A TOTAL ENROLLMENT OF 406 STUDENTS, THE AVERAGE CLASSROOM SIZE IS 12 STUDENTS. OF OUR 67 FACULTY MEMBERS, 74 PERCENT HOLD MASTER'S DEGREES AND 2 MEMBERS HOLD PHDS. WITH AN OVERALL STUDENT-TO-TEACHER RATIO OF 6:1, STUDENTS ACROSS ALL DIVISIONS BENEFIT FROM AN INTIMATE LEARNING ENVIRONMENT AND INDIVIDUAL ATTENTION. THE STUDENT BODY REPRESENTS 68 ZIP CODES AND 35 SCHOOL DISTRICTS, WITH 45 PERCENT OF STUDENTS RECEIVING NEED-BASED FINANCIAL AID AWARDS AND SCHOLARSHIPS. ONE HUNDRED YEARS OF ELLIS EDUCATIONAL EXCELLENCE HAS RESULTED IN 3,000+ ALUMNAE WHO COMPRISE AN INTERNATIONAL NETWORK OF SUPPORT FOR ELLIS STUDENTS. 13321364 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 20 0 1 174 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 20 20 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 PA X MACON FINLEY HEAD OF SCHOOL 4124412593 6425 FIFTH AVENUE PITTSBURGH PA 15206 MARNI PASTOR VICE-CHAIR 1.00 X X 0 0 0 BARB ROSSTON TREASURER 1.00 X X 0 0 0 LESLEY CARLIN SECRETARY 1.00 X X 0 0 0 COLIN BROWN TRUSTEE 1.00 X 0 0 0 TOMAR PIERSON-BROWN CHAIR 1.00 X 0 0 0 ANITA COURCOULAS TRUSTEE 1.00 X 0 0 0 SHANAN GUINN TRUSTEE 1.00 X 0 0 0 PATRICK KOEPPL TRUSTEE 1.00 X 0 0 0 DORA MAGOVERN TRUSTEE 1.00 X 0 0 0 SARAH ALTMAN MCSORELY TRUSTEE 1.00 X 0 0 0 MELONIE NANCE TRUSTEE 1.00 X 0 0 0 KIMBERLY ROBERTS TRUSTEE 1.00 X 0 0 0 ARIANA ORNELAS SMYTH TRUSTEE 1.00 X 0 0 0 JILL SWENSEN TRUSTEE 1.00 X 0 0 0 CRYSTAL WARE TRUSTEE 1.00 X 0 0 0 CHRISTINE NALITZ TRUSTEE 1.00 X 0 0 0 JOE SCHMID TRUSTEE 1.00 X 0 0 0 COLLEEN SIMONDS TRUSTEE 1.00 X 0 0 0 CORINNE MCGINLEY SMITH TRUSTEE 1.00 X 0 0 0 STEPHEN CHEN TRUSTEE 1.00 X 0 0 0 MACON FINLEY HEAD OF SCHOOL 40.00 X 259394 0 22441 259394 0 22441 1 0 1 0 JENDOCO CONSTRUCTION CORP 2000 LINCOLN ROAD PITTSBURGH PA 15235 CONSTRUCTION SERVICES 1063410 COMDATA PO BOX 360239 M PITTSBURGH PA 15250 MERCHANT SERVICES 457127 METZ CULINARY MANAGEMENT TWO WOODLAND DRIVE DALLAS PA 18612 FOOD SERVICE 249541 GENERAL CLEANING INC 101 EAST SEVENTH AVENUE HOMESTEAD PA 15120 CLEANING SERVICES 193970 FIRST NATIONAL BANK 4140 E STATE STREET HERMITAGE PA 16148 BANKING SERVICES 118856 5 25500 78278 1069282 4621 1173060 TUITION 900099 10796389 10796389 AUXILIARY ACTIVITIES 900099 472371 472371 11268760 652505 -537 653042 131647 80118 51529 51529 51529 11593046 11716146 -123100 -123100 -123100 43934 25500 13783 30151 30151 MISCELLANEOUS 900099 122474 122474 122474 13175379 11442763 -537 560093 3967574 3967574 281835 281835 5894059 5360617 197337 336105 305996 298647 -8107 15456 460796 360835 69497 30464 457305 394927 37740 24638 34415 34415 17544 17544 2140 1712 321 107 136117 69846 52659 13612 215731 143245 37443 35043 338229 236760 67646 33823 406730 246523 153404 6803 878 439 351 88 215225 118618 61350 35257 118856 118856 805912 773676 16118 16118 EQUIP. REPAIR & MAINT. 611862 489490 110135 12237 INSTRUCTIONAL EXPENSES 490539 489881 525 133 FOOD SERVICE EXPENSE 179034 178747 215 72 223405 189827 26491 7087 15164182 13321364 1275775 567043 4412963 3285667 95456 43056 425990 26953 5605 5605 113816 122989 29279360 17996114 10879710 11283246 29044413 30547268 6023328 5489704 296709 1100000 51297990 51904488 420873 159016 761592 779597 5718444 5718444 99193 95309 7000102 6752366 X 21191889 22570095 23105999 22582027 44297888 45152122 51297990 51904488 -1988803 2843037 0 X X 0 1 X 1 0 X 1643396 3077876 2276620 2032873 1173060 10203825 1643396 3077876 2276620 2032873 1173060 10203825 2103488 8100337 640585 584788 705938 683012 784152 3398475 29676 25663 92220 140902 122474 410935 14013235 50858875 0.57800 0.53140 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 35300892 175515 2516029 220301 1745599 36026536 40150477 362740 -3387609 327320 1497396 35300892 32089614 822563 9073915 437969 1397646 40150477 30823378 1545804 1578591 462471 1395688 32089614 27616101 2473900 2488448 338564 1416507 30823378 0.37460 0.37480 0.25060 0 0 1984272 1984272 18944286 11373640 7570646 1676760 1610802 65958 6674042 5011672 1662370 11283246 TIFF KEYSTONE FUND 5489704 F 5489704 AGENCY FUND - STUDENT ACTIVITIES AND CLUBS 95309 95309 X 12130960 2843037 80118 2923155 9207805 3967574 3967574 13175379 11276726 80118 80118 11196608 3967574 3967574 15164182 PART V, LINE 4: THE SCHOOL'S ENDOWMENT CONSISTS OF VARIOUS INVESTMENT FUNDS ESTABLISHED PRIMARILY FOR SUPPORT OF THE SCHOOL'S MISSION. ITS ENDOWMENT INCLUDES DONOR RESTRICTED AS WELL AS BOARD DESIGNATED ENDOWMENT FUNDS. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS ON THE STATEMENTS OF FINANCIAL POSITION. THE ORIGINAL FAIR VALUES OF GIFTS DONATED TO THE ENDOWMENT ARE CONSIDERED TO BE HELD IN PERPETUITY, AND ACCORDINGLY, THE SCHOOL CLASSIFIES SUCH GIFTS AS NET ASSETS WITH DONOR RESTRICTIONS. EARNINGS ON THESE GIFTS ARE ALSO ACCUMULATED IN NET ASSETS WITH DONOR RESTRICTIONS AND ARE CONSIDERED TO BE PURPOSE RESTRICTED. THE BOARD OF THE SCHOOL HAS ELECTED TO BE GOVERNED BY THE COMMONWEALTH OF PENNSYLVANIA'S ACT 141 ("ACT 141"). ACT 141 PERMITS ADOPTION OF A TOTAL RETURN POLICY THAT ALLOWS A CHARITY TO CHOOSE TO TREAT A PERCENTAGE OF THE AVERAGE FAIR VALUE OF THE ENDOWMENT'S RESTRICTED INVESTMENTS AS INCOME EACH YEAR. IN ACCORDANCE WITH ACT 141, THE SCHOOL HAS ADOPTED A SPENDING POLICY THAT STATES THE SPENDABLE RETURN IN ANY YEAR SHALL EQUAL BETWEEN 2% AND 7% OF THE TRAILING 12-QUARTER AVERAGE FAIR VALUE OF THE ENDOWMENT ENDING ON JUNE 30 OF THE PRECEDING YEAR. THE SCHOOL HAS USED A SPENDING RATE OF APPROXIMATELY 5.8% AND 4.6% FOR THE YEARS ENDED JUNE 30, 2023 AND 2022, RESPECTIVELY. THE SPENDABLE RETURN APPROXIMATED $1,990,000 AND $1,420,000 FOR 2023 AND 2022, RESPECTIVELY. FROM TIME TO TIME, THE BOARD MAY APPROVE AN ADDITIONAL DRAW OF BOARD DESIGNATED ENDOWMENT FUNDS. THE BOARD APPROVED ADDITIONAL DRAWS OF DONOR APPROVED ENDOWMENT FUNDS TOTALING $220,000 AND $180,000 DURING 2023 AND 2022, RESPECTIVELY. THE SCHOOL CONSIDERS THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO SET A SPENDING RATE: (A.) PROTECTING THE CORPUS OF THE ENDOWMENT FUND; (B.) PRESERVING THE SPENDING POWER OF THE ASSETS; (C.) OBTAINING MAXIMUM INVESTMENT RETURN WITH REASONABLE RISK AND OPERATIONAL CONSIDERATION; AND, (D.) COMPLYING WITH APPLICABLE LAWS. FURTHERMORE, IN ACCORDANCE WITH ACT 141, THE SCHOOL HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A REASONABLE LEVEL OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO ENHANCE THE PURCHASING POWER OF THE FUND'S CORPUS BY STRIVING FOR LONG TERM GROWTH. UNDER THIS POLICY, AS APPROVED BY THE BOARD, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRODUCE RESULTS THAT EXCEED THE PRICE AND YIELD RESULTS OF A BLENDED BENCHMARK OF EQUITY, FIXED INCOME, AND PRIVATE EQUITY. PART X, LINE 2: THE SCHOOL IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "CODE") AND FURTHER, IS CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. THE SCHOOL HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS REQUIRING AN ACCRUAL OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE SCHOOL IS NO LONGER SUBJECT TO EXAMINATION OF ITS TAX RETURNS FOR THE YEARS BEFORE 2020 PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 80,118. PART XI, LINE 4B - OTHER ADJUSTMENTS: TUITION ASSISTANCE 3,967,574. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 80,118. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION ASSISTANCE 3,967,574. 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 NON-DISCRIMINATORY POLICY IS PUBLISHED IN SCHOOL ADMISSION BROCHURES AND LOCAL PUBLICATIONS. THERE IS A DIVERSITY SECTION ON THE SCHOOL'S WEBSITE, WWW.THEELLISSCHOOL.ORG, THAT CAN BE VIEWED BY THE PUBLIC. SCHEDULE E, PART I, LINE 6 THE COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF EDUCATION HAS ESTABLISHED AN ALLOTMENT UNDER ACTS 195/90/35 FOR THE PURCHASE AND LOAN OF TEXTBOOKS AND INSTRUCTIONAL MATERIALS TO SCHOOLS WHOSE STUDENTS ARE PENNSYLVANIA RESIDENTS ENROLLED IN KINDERGARTEN THROUGH GRADE 12 AND WHOSE TUITION IS NOT PAID BY STATE OR OTHER PUBLIC FUNDS. THE ALLOTMENT FOR THE SCHOOL FOR THE 2022-2023 AND 2021-2022 SCHOOL YEARS WAS IN THE AMOUNT OF $60,861 AND $57,163, RESPECTIVELY. THE ALLOTMENT RECEIVED AND USED IS RECORDED IN THE LINE ITEMS FOR OTHER STUDENT ACTIVITIES AND SUPPORT ON THE STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS. VARIOUS INVESTMENTS 12186 0 0 0 0 0 0 12186 0 12186 1 0 0 1 0 0 PART III ACCOUNTING METHOD: SPRING HER FORWARD 69434 25500 43934 1199 3325 2325 6934 69434 25500 43934 1199 3325 2325 6934 13783 30151 1 SCHOLARSHIPS AND FINANCIAL AID 230 3542929 N/A N/A TUITION REMISSION 29 424645 N/A N/A PART I, LINE 2: FINANCIAL AID IS BASED ON FINANCIAL NEED. FAMILIES APPLYING FOR FINANCIAL AID, SUBMIT AN APPLICATION EACH YEAR TO FINANCIAL AID. THE ORGANIZATION, (SSS.NAIS), WILL ULTIMATELY ACCESS THE APPLICATION AND ASSESS A FAMILY'S ABILITY TO PAY FOR AN INDEPENDENT EDUCATION. ONCE A STUDENT HAS BEEN ADMITTED WITH FINANCIAL AID, HER AID, COMPUTED ON A PERCENT OF TUITION BASIS, WILL FOLLOW HER UNTIL SHE LEAVES THE SCHOOL, PROVIDED SHE IS IN GOOD STANDING AND HER FAMILY'S CIRCUMSTANCES HAVE NOT CHANGED. THE SCHOOL WILL CONSIDER OFFERING FINANCIAL AID TO A STUDENT WHO DID NOT RECEIVE FINANCIAL AID PREVIOUSLY IF HER FAMILY'S FINANCIAL CIRCUMSTANCES CHANGED SUBSTANTIALLY. TO PROTECT THE PRIVACY OF THE FAMILIES, INFORMATION ABOUT FINANCIAL AID RECIPIENTS IS NOT MADE PUBLIC. NEW EMPLOYEES WITH 45% OR MORE FTE (FULL TIME EQUIVALENCY) ARE ELIGIBLE FOR 50% TUITION REMISSION FOR DAUGHTERS ENROLLED AT ELLIS. EMPLOYEES ARE ELIGIBLE TO APPLY FOR FINANCIAL AID FOR THE BALANCE OF TUITION IF THEY CHOOSE. FINANCIAL AID FORMS NEED TO BE COMPLETED AND SUBMITTED TO THE ADMISSIONS OFFICE EACH YEAR THE CHILD IS ENROLLED. EMPLOYEES WHO WERE HIRED UNDER THE FORMER 90% TUITION REMISSION RATE, WHO STILL MEET THE 45% ELIGIBILITY REQUIREMENT, WILL CONTINUE TO RECEIVE FULL TUITION AT THE 90% RATE FOR ALL CURRENT AND FUTURE DAUGHTERS ENROLLED AT THE ELLIS SCHOOL. X X X X 0 0 0 0 0 0 0 0 0 MACON FINLEY HEAD OF SCHOOL 259394 0 0 0 0 0 15606 0 6835 0 281835 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL EXERCISE ALL OF THE POWERS AND AUTHORITY OF THE BOARD BETWEEN MEETINGS OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE TEAM AND HEAD OF SCHOOL REVIEW THE FORM 990. THE PUBLIC DISCLOSURE COPY OF THE FORM 990 IS AVAILABLE TO THE BOARD OF TRUSTEES UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C AT THE SEPTEMBER MEETING OF THE BOARD OF TRUSTEES, EACH MEMBER IS GIVEN THE CONFLICT OF INTEREST DISCLOSURE STATEMENT TO COMPLETE AND SIGN. THE SECRETARY OF THE BOARD IS RESPONSIBLE FOR REVIEWING AND MONITORING THE COMPLETED FORMS. THE SECRETARY MONITORS AND ENFORCES COMPLIANCE WITH THE POLICY AT THE MEETINGS AND NOTES ANY CONFLICT IN THE BOARD OF TRUSTEES MINUTES. FORM 990, PART VI, SECTION B, LINE 15 THE HEAD OF SCHOOL, THE TOP MANAGEMENT OFFICIAL, IS COMPENSATED. MEMBERS OF THE BOARD OF TRUSTEES ARE NOT COMPENSATED. WHEN MS. FINLEY BECAME HEAD OF SCHOOL IN 2017, HER COMPENSATION WAS DETERMINED BY THE EXECUTIVE COMMITTEE AND APPROVED BY THE ENTIRE BOARD. HER COMPENSATION WAS DETERMINED USING AS A COMPARISON GROUP THE COMPENSATION OF HEADS OF INDEPENDENT SCHOOLS IN THE REGION. THE HEAD OF SCHOOL DETERMINES THE PAY OF OTHER OFFICERS AND KEY EMPLOYEES BASED ON COMPARABLE SALARY DATA FROM OTHER INDEPENDENT SCHOOLS. FORM 990, PART VI, SECTION C, LINE 19 THE ELLIS SCHOOL MAKES ITS GOVERNANCE DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, QUESTION 2C, OVERSIGHT OF FINANCIAL STATEMENT AUDIT: THE SCHOOL'S FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTING FIRM. IN ADDITION, THE SCHOOL'S BOARD ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS. THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES HANDLES THE SELECTION PROCESS OF THE INDEPENDENT AUDITORS AND RECOMMENDS TO THE BOARD OF TRUSTEES FOR ITS APPROVAL. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. ARBUTHNOT PROPERTIES LLC 6425 FIFTH AVENUE PITTSBURGH PA 15206 000000000 RENTAL PROPERTY PA 131647 1100000 THE ELLIS SCHOOL