2024-05-13T13:53:03-05:00 2023-06-30 WITHUM SMITH BROWN PC 506 CARNEGIE CENTER STE 400 PRINCETON NJ 085406243 990 2022-07-01 210635004 The Pennington School % BRENDA COLE PENN 6097371838 112 W Delaware Ave Pennington NJ 08534 Brenda Cole CHIEF FINCL OFFICER 6097376120 2024-05-09 true Brenda Cole 999009999 GLENN BELLOMY P00579162 6095201188 2 2022 2023-04-26 12:10:37Z Brenda Cole 112 W Delaware Ave Pennington NJ 08534 46487369 false X WWW.PENNINGTON.ORG X 1838 NJ THE PENNINGTON SCHOOL IS AN INDEPENDENT CO-EDUCATIONAL SCHOOL SERVING DAY AND BOARDING STUDENTS IN GRADES 6-12. WE ARE DEDICATED TO DEVELOPING EXCELLENCE IN ALL STUDENTS. 35 34 334 262 160515 148436 5616852 4448364 28599730 29845272 6287958 3058126 371340 624117 40875880 37975879 7482964 7883544 0 0 15640955 17809222 0 0 1558249 11089302 11226922 34213221 36919688 6662659 1056191 90118133 92354430 22158855 21878042 67959278 70476388 THE PENNINGTON SCHOOL IS AN INDEPENDENT CO-EDUCATIONAL SCHOOL SERVING DAY AND BOARDING STUDENTS IN GRADES 6-12. THE SCHOOL IS DEDICATED TO DEVELOPING INDIVIDUAL EXCELLENCE IN ALL OF ITS STUDENTS. false false 27378770 7883544 30131861 COEDUCATIONAL DAY/BOARDING SCHOOL SERVICING GRADES 6 THROUGH 12. THERE ARE APPROXIMATELY 525 STUDENTS. 27378770 true true false false false false false false false true true false false false true true true false true false false false false false true false false false true true true false false false false false false false false false false false false false false false false false false false true 94 0 true 334 true true true false false false false true true false false false false false false X 35 34 false false false false true true true true true false false true true true true true true true false false X BRENDA COLE 6097371838 112 W DELAWARE AVE PENNINGTON NJ 08534 X William Stevenson Hawkey Head of School 40.0 0.0 X X 467278 0 22512 Charles D Brown Director of Advancement 40.0 0.0 X 264786 0 19407 Sharon Jarboe Director of Admission 40.0 0.0 X 129213 0 10127 Deborah R Fermo Dean of Faculty 40.0 0.0 X 127502 0 7492 Joannah Prockop Director of the Learning CTR 40.0 0.0 X 125113 0 9262 Chadwick Bridges Dean of STUDENTS 40.0 0.0 X 123673 0 10537 Brenda Rene Cole Chief Financial Officer 40.0 0.0 X 91406 0 6534 A Louis Denton Esq Trustee 2.0 0.0 X 0 0 0 Bishop John R Schol Trustee 2.0 0.0 X 0 0 0 Brenda Martini O'loughlin Trustee 2.0 0.0 X 0 0 0 Celeste Jackson Trustee 2.0 0.0 X 0 0 0 Chandra Binky Sanders Trustee 2.0 0.0 X 0 0 0 Dan Mahony Trustee 2.0 0.0 X 0 0 0 David J Long III Trustee 2.0 0.0 X 0 0 0 Dennis S Keating Trustee 2.0 0.0 X 0 0 0 Erich Stegich Trustee 2.0 0.0 X 0 0 0 Jack Green Trustee 2.0 0.0 X 0 0 0 Jacob Levy Trustee 2.0 0.0 X 0 0 0 Jae Hyeok Heo Trustee 2.0 0.0 X 0 0 0 Jason Ridings Trustee 2.0 0.0 X 0 0 0 Jian Jim Wang PhD Trustee 2.0 0.0 X 0 0 0 John S Biddiscombe Trustee 2.0 0.0 X 0 0 0 Jordan M Gray Trustee 2.0 0.0 X 0 0 0 Judith Rosenberg Trustee 2.0 0.0 X 0 0 0 Julie Wulf Trustee 2.0 0.0 X 0 0 0 Katherine Q Rosa Trustee 2.0 0.0 X 0 0 0 Lisa Espinoza MD Trustee 2.0 0.0 X 0 0 0 Matthew Pauls Trustee 2.0 0.0 X 0 0 0 Michael D Jingoli Trustee 2.0 0.0 X 0 0 0 Minsoo Kim Trustee 2.0 0.0 X 0 0 0 Peter J Tucci Esq Trustee 2.0 0.0 X 0 0 0 Rev Dr Virginia Samuel Cetuk Trustee 2.0 0.0 X 0 0 0 Rev Ronell Howard Trustee 2.0 0.0 X 0 0 0 Soopakij Chris Chearavanont Trustee 2.0 0.0 X 0 0 0 Stephen Tan Trustee 2.0 0.0 X 0 0 0 Steven M Silberman Trustee 2.0 0.0 X 0 0 0 Swati Navani Trustee 2.0 0.0 X 0 0 0 REV Dr David C Mertz Trustee 2.0 0.0 X 0 0 0 REV Dr Donald Medley Trustee 2.0 0.0 X 0 0 0 Vandana Bhanote Trustee 2.0 0.0 X 0 0 0 William Oldsey Trustee 2.0 0.0 X 0 0 0 1328971 0 85871 11 false true false Sodexo Inc Affiliates 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 Dining Services 1848155 DVP Construction Group 4728 118th Pl SE EVERETT WA 98208 Contractor 605792 JMG Mechanical LLC 2026 Houndscroft RD INDIAN TRAIL NC 28079 Contractor 508578 Commercial Cleaning Corp 311 N Clinton Ave TRENTON NJ 08638 Housekeeping Service 469628 JOTTAN INC 61 Cathy Ln BURLINGTON NJ 08016 Contractor 345141 9 55157 4393207 5085 4448364 TUITION & FEES 611110 29845272 29845272 29845272 1691843 1691843 0 0 397141 129464 267677 0 267677 152040 115637 9607277 8240994 1366283 1366283 1366283 40576 55157 40576 0 0 0 161832 100456 61376 61376 MISC SCHOOL INCOME 900099 286589 286589 YEARBOOK ADVERTISING 541800 8475 8475 295064 37975879 30131861 160515 3235139 10000 10000 7873544 7873544 0 0 741440 509427 188511 43502 0 13379220 9097869 3478597 802754 829660 558922 219975 50763 1849630 1257748 480904 110978 1009272 686305 262411 60556 0 93064 63283 24197 5584 97128 66047 25253 5828 0 0 180136 180136 1964315 1964315 54037 36745 14050 3242 2712094 928350 1549535 234209 121606 82692 31618 7296 0 2183596 1477179 574090 132327 198171 134757 51524 11890 0 119468 81238 31062 7168 342257 342257 0 2870461 2010491 795253 64717 290589 197601 75553 17435 36919688 27378770 7982669 1558249 X 0 0 6986164 5452475 1880654 3153446 37861 107885 0 0 0 0 0 0 107587 103332 353482 464216 66968867 28818088 38594125 38150779 42068025 44546414 90235 10165 0 0 0 0 0 365718 90118133 92354430 3085861 2967032 0 0 5643320 6074263 12499979 11774852 0 0 0 0 721909 691734 0 0 207786 370161 22158855 21878042 X 43974445 44297022 23984833 26179366 67959278 70476388 90118133 92354430 X 1056191 1249385 211534 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 42904767 870821 3961446 1745086 45991948 47959619 1450657 -4745319 1760190 42904767 38891186 200988 10581486 1714041 47959619 39983321 981028 -339705 1733458 38891186 39571983 507080 1435236 1530978 39983321 0.52150 0.47850 0.00000 true false 258677 258677 55189434 24296690 30892744 0 0 0 4285563 3520791 764772 7235193 1000607 6234586 38150779 0 LEASE LIABILITY 370161 370161 X 31326988 1249385 155404 1404789 29922199 180136 7873544 8053680 37975879 28809878 -56130 -56130 28866008 180136 7873544 8053680 36919688 SCHEDULE D, PART X, LINE 2 Income Tax Status The School is a tax-exempt corporation under Section 501c3 of the Internal Revenue Code and under current New Jersey tax statutes. However, income from certain activities that is not directly related to the School's tax-exempt purpose is subject to taxation as unrelated business income. In addition, the School qualifies for the charitable contribution deduction under Section 170(b)(1)(A) and has been classified as an organization that is not a private foundation under Section 509(a)(2). The School files tax returns in the United Stated federal jurisdiction and complies with state filing requirements Accounting for Uncertain Tax Positions Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the School and recognize a tax liability (or asset) if the School has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service Management has analyzed the tax positions taken by the School, and has concluded that as of June 30, 2023, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The School files a tax return in the U.S. federal jurisdiction and has no income tax related penalties and interest for the periods presented in these financial statements. Should any such penalties and interest be incurred, the School's policy would be to recognize them as operating expenses. In the normal course of business, the School is subject to examination by taxing authorities. As of June 30, 2023 and through the date of this report, there are no on-going examinations or unresolved disputes with the various tax authorities that the School files with. As of June 30, 2023, the School had no unrecognized tax benefits. Further, there are no income tax related penalties and interest included in these financial statements. SCHEDULE D, PART XI, LINE 2D COST OF GOODS SOLD............................... 100,456 UBIT - RECLASS ENTRIES........................... 23,210 SPECIAL EVENTS EXPENSES.......................... 31,738 ---------------------------------------------------------------- TOTAL............................................ 155,404 SCHEDULE D, PART XII, LINE 2D COST OF GOODS SOLD............................... 100,456 UBIT - RECLASS ENTRIES........................... 23,210 SPECIAL EVENTS EXPENSES.......................... 31,738 BAD DEBT EXPENSE.................................. -211,534 ---------------------------------------------------------------- TOTAL............................................ - 56,130 SCHEDULE D, PART XII, LINE 4B FINANCIAL AID..................................... 7,873,544 SCHEDULE D, PART XI, LINE 4B FINANCIAL AID..................................... 7,873,544 true true true true true true true false false false false false false false false false false true PART 1, LINE 3: NONDISCRIMINATORY POLICY NOTICE THE SCHOOL STATES ITS NON-DISCRIMINATORY POLICY ON ITS WEBSITE, MARKETING MATERIALS USED BY THE ADMISSION OFFICE, AND PRINT ADVERTISEMENTS THROUGH THE NEW JERSEY ASSOCIATION OF INDEPENDENT SCHOOLS. AUCTION 95733 55157 40576 40576 0 95733 55157 40576 40576 40576 true FINANCIAL AID 135 6576494 FMV SCHOLARSHIPS/TUITION TUITION REMISSION 29 1297050 FMV FACULTY AID SEE EXPLANATION FOR PART I, LINE 2 THERE WERE 135 RECIPIENTS OF FINANCIAL AID AND 29 RECIPIENTS OF TUITION REMISSION. TUITION REMISSION IS AWARDED FOR ONE STUDENT PER EMPLOYEE AT A TIME. FINANCIAL AID IS AWARDED ON A NEED BASIS USING INDUSTRY STANDARD FINANCIAL DISCLOSURES AND CALCULATIONS. X X true true X X X X false true false false false false false false false William Stevenson Hawkey Head of School 467278 0 0 0 0 0 21350 0 1162 0 489790 0 0 0 Charles D Brown Director of Advancement 264786 0 0 0 0 0 18709 0 698 0 284193 0 0 0 PART I, LINE 1A - HOUSING ALLOWANCE THE FOLLOWING ARE PROVIDED HOUSING AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE SCHOOL. THE FAIR MARKET VALUE INCLUDED ARE NOT INCLUDED IN THEIR TAXABLE WAGES, UNDER SECTION 119 OF THE INTERNAL REVENUE CODE: DR. WILLIAM S. HAWKEY $ 67,600 Chadwick Bridges $ 48,650 PART I, LINE 4B - COMPENSATION QUESTIONS WILLIAM HAWKEY WAS PROVIDED A SUPPLEMENTAL PENSION IN 2022-2023. THE COST WAS $20,500. A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 2014-06-17 7500000 CONSTRUCTION/CAPITAL IMPROVEMENTS false false false B PUBLIC FINANCE AUTHORITY 273866124 2017-03-29 1000000 CONSTRUCTION/CAPITAL IMPROVEMENTS false false false A 245000 0 0 0 0 0 0 0 0 0 0 0 2015 false false true true B 397800 0 0 0 0 0 0 0 0 0 0 0 2018 false false true true A false false false false 0 true false false true B false false false false 0 true true A false true false false 0 false 0 false true B false true false false 0 false 0 false true A true B true PART VI, SECTION B, LINE 12C THE SCHOOL REQUIRES ALL BOARD OF TRUSTEES, OFFICERS AND KEY EMPLOYEES TO SIGN ANNUAL CONFLICT OF INTEREST STATEMENTS. PART VI, SECTION B, LINE 15A THE HEAD OF SCHOOL HAS BEEN IDENTIFIED AS AN OFFICER. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES MEETS TO DECIDE COMPENSATION. MEMBERS OF THE COMMITTEE ARE INDEPENDENT. A COMMITTEE MEMBER PREPARES COMPARABLE DATA FROM TAX RETURNS (USING GUIDESTAR) AND NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (COLLECTED BY CFO). THIS MATERIAL IS REVIEWED BY THE EXECUTIVE COMMITTEE. THE BOARD OF TRUSTESS RATIFIES COMMITTEE'S FINDINGS. ALL OTHER COMPENSATION IS DETERMINED BY THE HEAD OF SCHOOL. PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED BY AN INDEPENDENT CERTIFIED ACCOUNTANTING FIRM ENGAGED BY THE SCHOOL, UPON WHICH A DRAFT COPY IS SENT AND REVIEWED BY THE FINANCE COMMITTEE FOR APPROVAL TO SEND A FINAL DRAFT COPY TO THE INDIVIDUAL TRUSTEES EITHER BY EMAIL OR AT A BOARD MEETING PRIOR TO FILING. PART VI, SECTION C, LINE 19 THE SCHOOL'S FORM 990 IS AVAILABLE ON WWW.GUIDESTAR.ORG. NO OTHER DOCUMENTS ARE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS FOR THE CURRENT FISCAL YEAR END INCLUDE THE FOLLOWING: BAD DEBT EXPENSE..................................... 211,534