2023-01-27T12:41:57-06:00 2022-06-30 WITHUMSMITHBROWNPC 4600 EAST WEST HWY 900 BETHESDA MD 208142422 990 2021-07-01 210634492 The Peddie School % SANJEEV PURI PEDD 6099447510 201 South Main Street Hightstown NJ 08520 CHRISTINE BENITEZ DIRECTOR OF FINANCE 6099447511 2023-01-20 true CHRISTINE BENITEZ 999009999 RICHARD L RUVELSON P00234075 3012726000 2023-01-20 2 2021 2023-03-07 01:45:13Z MICHAEL B MCKITISH 201 South Main Street Hightstown NJ 08520 81197184 false X www.peddie.org X 1879 NJ THE PEDDIE COMMUNITY COMMITS ITSELF to the intellectual, social, and moral growth of our students. WE challenge our students to reach for levels of achievement (See Sch O) 34 32 449 195 1129804 0 11157050 11844782 31440530 34474563 14669539 16459461 859334 1609982 58126453 64388788 8180319 8890294 0 0 22003889 22400317 0 0 3517461 17394852 19329603 47579060 50620214 10547393 13768574 613419387 569382433 47088892 47302462 566330495 522079971 X SEE SCHEDULE O. false false 39627870 8851994 34474563 A PRIVATE SECONDARY BOARDING/DAY SCHOOL ENROLLING 532 STUDENTS IN GRADES 9-12 AND POST GRADUATE DURING THE SCHOOL YEAR, AND ACADEMIC COURSES FOR STUDENTS IN GRADES 5 - 12 DURING THE SUMMER. EXPENSES INCLUDE FINANCIAL AID OF $8,851,994. 39627870 true true false false false false true true false true true true false false false true false true true false true false false false true false false true true true true false false false false false false false false false false true false false false true false false false false true 112 0 true 449 true true true false false false false true true false false false false false false X 34 32 false false false false false false false true true false false true true true true true true true true false X SANJEEV PURI 6099447510 201 SOUTH MAIN STREET HIGHTSTOWN NJ 085201010 X Peter A Quinn Trustee/Headmaster 80.0 0.0 X X 599385 0 134328 Karyn Vella Assistant Head for Development 50.0 0.0 X 253024 0 84770 Michael McKitish Asst Secretary/Asst Head Finan 50.0 0.0 X 270810 0 51007 M Catherine Rodrigue Associate Head of School 50.0 0.0 X 189267 0 56256 Aimee Goodman Director, Health Center 50.0 0.0 X 167920 0 63246 Molly Dunne Director of Admissions 50.0 0.0 X 161753 0 61703 Ryan Bennett Director of Technology 50.0 0.0 X 150737 0 64191 Raymond H Cabot Asst. Head for Strategic Plan 50.0 0.0 X 148207 0 57455 Christopher Van Wyk Asst Treasurer/Controller 50.0 0.0 X 180816 0 18454 Sanjeev Puri Asst Secretary/Asst Head Finan 50.0 0.0 X 127398 0 54719 Grant Edwards Trustee/Teacher 1.0 0.0 X 66090 0 38290 Douglas E Davidson Esq Chairman/Trustee 1.0 0.0 X X 0 0 0 Roger A Durling Vice Chair/Trustee 1.0 0.0 X X 0 0 0 Mitka T L Baker Secretary/Trustee 1.0 0.0 X X 0 0 0 Virginia Bauer Trustee 1.0 0.0 X 0 0 0 George C Chen Trustee 1.0 0.0 X 0 0 0 Jeffrey M Cruz Trustee 1.0 0.0 X 0 0 0 Suzanne Daly Trustee 1.0 0.0 X 0 0 0 Allison B Davi Trustee 1.0 0.0 X 0 0 0 Sangu J Delle Esq trustee 1.0 0.0 X 0 0 0 Patrick W Dennis trustee 1.0 0.0 X 0 0 0 Nora Eldessouky Trustee 1.0 0.0 X 0 0 0 Domingo Garcia trustee 1.0 0.0 X 0 0 0 Jean M Grant Trustee 1.0 0.0 X 0 0 0 Carlos Guajardo Trustee 1.0 0.0 X 0 0 0 Ralph Izzo trustee 1.0 0.0 X 0 0 0 The Hon Robert B Kugler Trustee 1.0 0.0 X 0 0 0 Jeffrey R Larsen trustee 1.0 0.0 X 0 0 0 Benjamin M Levy Trustee 1.0 0.0 X 0 0 0 John K Lloyd trustee 1.0 0.0 X 0 0 0 Mitchell G Mackler Esq Trustee 1.0 0.0 X 0 0 0 Sara L McGinty trustee 1.0 0.0 X 0 0 0 Sunanda Nair-Bidkar Trustee 1.0 0.0 X 0 0 0 Michael T Nettles trustee 1.0 0.0 X 0 0 0 Sheryl Oliver Trustee 1.0 0.0 X 0 0 0 Robert J Ruberton trustee 1.0 0.0 X 0 0 0 Michael D Smith Treasurer/Trustee 1.0 0.0 X X 0 0 0 Timothy H Starkey Trustee 1.0 0.0 X 0 0 0 Patricia G Sullivan PhD Trustee 1.0 0.0 X 0 0 0 Chavon T Sutton Trustee 1.0 0.0 X 0 0 0 Tracey Wetmore Trustee 1.0 0.0 X 0 0 0 Sean N Woodroffe Trustee 1.0 0.0 X 0 0 0 Ning Zhao Trustee 1.0 0.0 X 0 0 0 2315407 0 684419 25 false true false N CARNEVALE SONS INC 529 BRUNSWICK PIKE LAMBERTVILLE NJ 08530 CONSTRUCTION 1288949 DAKOTA BUILDING SERVICES INC 3 AQUA TERRACE HAMILTON NJ 08620 CUSTODIAL 1180254 HANOVER CONSTRUCTION LLC PO BOX 158 WRIGHTSTOWN NJ 08562 CONSTRUCTION 946987 MONTICELLO ASSOCIATES INC 109 STATE STREET STE 401 BOSTON MA 02109 INVESTMENT MGMT. 360000 BROSS ROOFING SIDING 975 2ND STREET PIKE RICHBORO PA 18954 CONSTRUCTION 263442 18 X 28478 11816304 2735402 11844782 TUITION AND FEES 611110 34474563 34474563 34474563 2127764 2127764 0 0 292509 95403 197106 0 197106 197106 30764937 16433240 14331697 14331697 14331697 55694 28478 199572 -143878 -143878 0 0 0 122065 80181 41884 41884 AQUATICS, GOLF COURSE, SUMMER PROGRAMS 713990 1408758 278954 1129804 MISCELLANEOUS 900099 76428 76428 SNACK BAR 722513 29684 29684 1514870 64388788 34753517 1129804 16660685 38300 38300 8851994 8851994 0 0 1497036 305701 1036327 155008 0 15728748 11928744 2233297 1566707 1276188 897709 257014 121465 2745248 1923700 560262 261286 1153097 825681 217667 109749 0 160109 160109 67120 67120 0 0 366000 366000 354393 124297 212558 17538 205269 6805 198464 233348 129746 55661 47941 883020 816446 66574 0 3624308 3230816 339127 54365 226969 80660 9221 137088 0 0 989927 989927 0 6936955 6061003 834281 41671 662285 545004 64567 52714 AUXILIARY 491749 53391 438358 FOOD SERVICES 844961 811540 33421 ACADEMIC PROGRAM 561960 561960 ATHLETICS 402989 402989 2318241 1041457 391429 885355 50620214 39627870 7474883 3517461 X 46311387 21654755 27610967 27267633 11111704 8663747 496687 415359 0 0 0 0 0 0 86356 111555 323037 477942 212139091 111152377 103563904 100986714 128037013 106169556 294111440 289178448 0 0 0 0 1766892 14456724 613419387 569382433 3685900 6504129 0 0 6286151 6526691 16972700 14527222 0 0 0 0 19735452 19744420 0 0 408689 0 47088892 47302462 X 220153250 215790949 346177245 306289022 566330495 522079971 613419387 569382433 X 13768574 -57918949 -100149 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 2 3.00 1 true 2.00 false 374214 X X X false 451391949 7365876 -41331190 8851994 4453812 404120829 356881436 4217138 103136363 8157019 4685969 451391949 356123647 5762050 7521362 9037550 3488073 356881436 344825329 11463870 11597583 8977914 2785221 356123647 321558562 11972581 22854463 7674796 3885481 344825329 0.27890 0.60980 0.11130 true false 13962309 13962309 181693116 100196700 81496416 16109452 10955677 5153775 374214 374214 100986714 OTHER SECURITIES 289178448 F 289178448 0 0 X PART II, LINE 9: THE SCHOOL HOLDS TWO WETLANDS EASEMENTS AS PART OF ITS CAMPUS LAND. THIS IS ACCOUNTED FOR AS A PART OF LAND AMOUNT ON THE SCHOOL'S BALANCE SHEET. PART III, LINE 4: INCLUDED IN THIS COLLECTION ARE SUCH NOTABLE BOOKS AS CHARLES DARWIN'S ON THE ORIGIN OF SPECIES ($15,000), HARTMAN SCHEDEL'S NURENBERG CHRONICLE ($35,000), AND THE LATIN BOOK OF HOURS OF THE VIRGIN ($25,000). ADDITIONALLY, THERE ARE BOOKS BY THOMAS JEFFERSON, JOHN KEATS, AND G. CHAUCER. THESE BOOKS AND MANUSCRIPTS PROVIDE AN OPPORTUNITY FOR OUR STUDENTS TO GAIN INVALUABLE INSIGHT AS TO HISTORICAL PERSPECTIVES AND A CHANCE TO VIEW CLASSICAL LITERATURE IN THEIR ORIGINAL FORM THAT THEY COULD NOT OTHERWISE EVER SEE. ADDITIONALLY, THE SCHOOL POSSESSES A L'ARBRE SCULPTURE THAT IS ON DISPLAY IN THE SCHOOL'S ART CENTER FOR THE VIEWING PLEASURE OF THE ART STUDENTS AND TO THE PUBLIC AT EXHIBITIONS. PART V, LINE 4 THE PEDDIE SCHOOL ENDOWMENT FUNDS ARE DONOR RESTRICTED AND PRIMARILY PROVIDE FOR FINANCIAL AID TO PEDDIE'S STUDENTS AND SUPPORT FOR THE SCHOOL'S GENERAL OPERATIONS. ENDOWMENT INCOME ALSO PROVIDES SUPPORT FOR THE SCHOOL'S FACULTY SALARIES AS WELL AS ACADEMIC PROGRAMS, FIELD TRIPS FOR STUDENTS, AND GENERAL USE. PART X, LINE 2 Professional standards related to Accounting for Uncertainty in Income Taxes clarifies the accounting for uncertainty in income taxes recognized in an entity's consolidated financial statements. Management has analyzed the tax positions taken by the School and has concluded that as of June 30, 2022 and 2021, there are no uncertain tax positions taken or expected to be taken that would require the recognition of a liability or disclosure in the consolidated financial statements. The School recognizes accrued interest and penalties associated with uncertain tax positions, if any. There were no income tax-related interest or penalties recorded for the years ended June 30, 2022 and 2021. 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, 2022, and through the date of this report there are no on-going examinations or unresolved disputes with the various authorities with which the School files tax returns. true true true true true true true false false false false false false false false false false true PART I, LINE 3: A STATEMENT OF PEDDIE'S NON-DISCRIMINATION POLICY IS INCLUDED IN ALL BROCHURES AND CATALOGS THAT PERTAIN TO STUDENT ADMISSIONS PROGRAMS AND SCHOLARSHIPS. PEDDIE ALSO PUBLISHES AN ANNUAL PRINT ADVERTISEMENT THROUGH NAIS (NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS). East Asia and the Pacific 0 0 Investments 11207613 Central America and the Caribbean 0 0 Investments 62381607 Europe (Including Iceland and Greenland) 0 0 Investments 16199218 0 0 0 0 89788438 89788438 true false false true true false COMMUNITY COUNSELING SERVICE CAMPAIGN CONSULTANT false TAFT COMMUNICATIONS BRANDING & MESSAGING false REUNION 46147 578 45569 37932 53518 9775 77678 SOCIAL 37260 27900 9360 17854 450 2365 0 83407 28478 54929 37932 71372 10225 80043 199572 -144643 201 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 true BOROUGH OF HIGHTSTOWN 148 SOUTH MAIN STREET HIGHSTOWN NJ 08520 216000721 501 (C) (3) 23000 GENERAL TOWN SUPPORT HIGHTSTOWN FIRE DEPARTMENT 148 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 223279112 501 (C) (3) 15000 FIRE DEPARTMENT SUPPORT 2 FINANCIAL AID (SCHOLARSHIPS) 185 8851994 PART III, LINE 1 FINANCIAL AID (SCHOLARSHIPS) ARE GIVEN OUT BASED ON NEED AND MERIT. NEED-BASED AID IS GIVEN OUT BASED on information from the Parents' Financial Statement and uses a standardized calculation derived from a formula that is nationally accepted by independent schools. Using the tax returns and FORMS W-2, Peddie makes any necessary adjustments (income amounts, federal and state taxes, cafeteria and pension deductions, etc.) to the familys initial estimates. The Financial Aid Committee determines need by evaluating the familys ability to contribute against the cost of attendance. We base this analysis on factors including: parental employment, family size, most recent years' income and expenses, assets and liabilities, living expenses/lifestyle choices, and the number of family members for whom the family is paying tuition. Merit scholars come from diverse backgrounds and locations across the United States and around the world, and are considered for their ability to strengthen all aspects of our community and make the most of their Peddie experience. They possess a passion for learning and embody a commitment to academic excellence, community engagement, curiosity, and character. Merit scholarships are open to applicants regardless of financial need. In order to be considered, applicants must submit all necessary application materials by the January 15 application deadline (There are no additional materials required to be considered for merit scholarships). X true true X X false false false false false false false true false Peter A Quinn Trustee/Headmaster 570645 0 25000 0 3740 0 28500 0 105828 0 733713 0 0 0 Karyn Vella Assistant Head for Development 250529 0 2315 0 180 0 25397 0 59373 0 337794 0 0 0 Michael McKitish Asst Secretary/Asst Head Finan 267891 0 2000 0 919 0 27657 0 23350 0 321817 0 0 0 M Catherine Rodrigue Associate Head of School 186400 0 2075 0 792 0 18790 0 37466 0 245523 0 0 0 Aimee Goodman Director, Health Center 165800 0 2000 0 120 0 17222 0 46024 0 231166 0 0 0 Molly Dunne Director of Admissions 159373 0 2200 0 180 0 16557 0 45146 0 223456 0 0 0 Ryan Bennett Director of Technology 144533 0 6024 0 180 0 15290 0 48901 0 214928 0 0 0 Raymond H Cabot Asst. Head for Strategic Plan 145599 0 2092 0 516 0 14989 0 42466 0 205662 0 0 0 Christopher Van Wyk Asst Treasurer/Controller 180092 0 0 0 724 0 18069 0 385 0 199270 0 0 0 Sanjeev Puri Asst Secretary/Asst Head Finan 107223 0 20115 0 60 0 11250 0 43469 0 182117 0 0 0 SCHEDULE J, PART I, LINE 1A HOUSING ON THE SCHOOL CAMPUS IS PROVIDED TO CERTAIN EMPLOYEES, AS REQUIRED BY THE TERMS OF THEIR EMPLOYMENT FOR THE CONVENIENCE OF THE SCHOOL, AND IS TREATED AS NON-TAXABLE UNDER SECTION 119 OF THE INTERNAL REVENUE CODE. SCHEDULE J, PART I, LINE 7 THE HEAD'S INCENTIVE COMPENSATION IS DETERMINED EACH YEAR BY THE BOARD CHAIR, IN CONSULTATION WITH THE EXECUTIVE COMMITTEE, PURSUANT TO THE HEAD'S EMPLOYMENT AGREEMENT, AS AMENDED, AND THE SCHOOL'S HEAD COMPENSATION POLICY, BASED ON THE HEAD'S ACHIEVEMENT OF ANNUAL PERFORMANCE OBJECTIVES FOR THE CONTRACT YEAR. A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY - 2015 222045817 2015-08-05 11125000 FORWARD REFUNDING OF PRIOR BOND false false false B NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY - 2017 222045817 2017-01-02 15150000 BOND REFINANCING false false false A 0 0 11125000 0 0 11008601 116399 0 0 0 0 0 false true true true B 0 0 15150000 0 0 15150000 0 0 0 0 0 0 true false true true A false false false false 0 false false false true B false false false false 0 false false false false A false true false false 0 false 0 false false B false true false true true WELLS FARGO 10. false false false 0 false false A true B true X 31 781407 FMV X PLEDGES 20 1836575 FMV false true false FORM 990, PART III, LINE 1 THE PEDDIE COMMUNITY COMMITS ITSELF TO THE INTELLECTUAL, SOCIAL, AND MORAL GROWTH OF OUR STUDENTS. WE CHALLENGE OUR STUDENTS TO REACH FOR LEVELS OF ACHIEVEMENT THEY HAVE NOT ATTEMPTED BEFORE AND ENCOURAGE THEM TO MEASURE THE SUCCESS OF THEIR EFFORTS BY THE PROGRESS THEY MAKE. ULTIMATELY, WE SEEK NOT ONLY TO PROVIDE OUR STUDENTS WITH VIGOROUS PREPARATION FOR COLLEGE BUT ALSO TO INSPIRE THEM TO STRIVE FOR THE HIGHEST QUALITY OF CITIZENSHIP. FORM 990, PART VI, SECTION B, LINE 11B The organization's Federal Forms 990 and 990-T were provided to each voting member of its governing body, its Board of Trustees, prior to filing with the Internal Revenue Service ("IRS"). One of the responsibilities of the organization's Audit and Risk Committee is to oversee and coordinate preparation, review and filing of the organization's Federal Forms 990 and 990-T. The organization retained the services of a professional certified public accounting ("CPA") firm with experience and expertise in both education and not-for-profit tax return preparation to prepare the Federal Forms 990 and 990-T. The CPA firm's tax professionals worked closely with the organization's finance personnel including the Assistant Head of Finance and Operations and the Controller ("Internal Working Group") to obtain the information needed in order to prepare complete and accurate tax returns. The CPA firm prepared draft Federal Forms 990 and 990-T and furnished them to the organization's Internal Working Group for review. The organization's Internal Working Group reviewed the draft Federal Form 990 and 990-T and discussed questions and comments with the CPA firm. The CPA firm prepared a final draft of the Federal Forms 990 and 990-T for review and approval by the organization's Internal Working Group. The Audit and Risk Committee reviewed these final drafts of the Federal Forms 990 and 990-T and provided them to each member of the Board of Trustees. Board approval of Federal Forms 990 and 990-T was secured prior to filing with the IRS. FORM 990, PART VI, SECTION B, LINE 12C Annually, each member of the Board of Trustees completes a conflict of interest questionnaire and statement. The statements are kept on file and reviewed for disclosures of any actual or potential conflicts. The Board of Trustees is responsible for resolving any matters that arise. FORM 990, PART VI, SECTION B, LINE 15 (a) Annually, the Executive Committee of the Peddie School Board of Trustees reviews the performance of the headmaster, the headmaster's salary history and all benefits, and a comparison study of salary and benefits for headmasters at comparable schools. Based on the foregoing, the Board Chair, in consultation with the Executive Committee, determines the headmaster's salary for the coming year. (b) Annually, the headmaster reviews with the Executive Committee of the Peddie School Board of Trustees the performance of members of the senior planning team, their salary histories and all benefits, and a comparison study of salary and benefits for similar positions at comparable schools. The headmaster provides the Executive Committee with salary recommendations for the Committee's concurrence. FORM 990, PART VI, SECTION C, LINE 19 The peddie school does not make its governing documents, conflict of interest policy and financial statements available to the public. the financial statements are made available to bondholders, insurers, rating agencies and others with a financial interest. FORM 990, PART VIII, LINE 3 THE INTEREST/DIVIDEND INCOME SHOWN IS NET OF $2,632,756 IN INVESTMENT EXPENSES. FORM 990, PART IX, LINE 2 THE FINANCIAL AID SHOWN ON PART IX, LINE 2 INCLUDES $1,970,500 IN TUITION REMISSION FOR CHILDREN OF EMPLOYEES OF THE PEDDIE SCHOOL. FORM 990, PART XI, LINE 9 CHANGE IN INTEREST RATE SWAPS $ 492,982 CHANGE IN SPLIT INTEREST AGREEMENTS (256,646) WRITE-OFF OF UNCOLLECTIBLE PLEDGES (336,486) --------- TOTAL $(100,149) TPS MANAGEMENT LLC 201 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 753051210 COMMERCIAL NJ 231694 2700436 THE PEDDIE