2023-03-02T08:48:40-06:00 2022-06-30 541517420 WALL EINHORN & CHERNITZER PC 150 W MAIN ST SUITE 1200 NORFOLK VA 23510 990 2021-07-01 540806413 NORFOLK COLLEGIATE SCHOOL NORF 7575830919 7336 GRANBY STREET NORFOLK VA 23505 SCOTT KENNEDY HEAD OF SCHOOL 7575830919 2023-01-19 1 SCOTT KENNEDY 999009999 JOHN M WATERS P01334859 7576254700 2023-01-19 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z SCOTT KENNEDY 7336 GRANBY STREET NORFOLK VA 23505 15641423 0 X WWW.NORFOLKCOLLEGIATE.ORG X 1948 VA TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND. 24 24 218 24 0 0 2811008 1426571 11850940 12027011 161643 95821 140597 282586 14964188 13831989 2183204 1965415 0 0 5804853 6155045 0 0 469657 4998892 5436911 12986949 13557371 1977239 274618 25242061 25101783 8868177 8821672 16373884 16280111 TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND. 0 0 11431117 1965415 12027011 OPERATION OF A PRIVATE SCHOOL WITH AN APPROXIMATE ENROLLMENT OF 600 STUDENTS. 11431117 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 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 8 0 1 218 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 TREASURER 2.00 X X 0 0 0 ALISON CARLSMITH SECRETARY 2.00 X X 0 0 0 DAWN BRAY TRUSTEE 2.00 X 0 0 0 WILLIAM B BROCK TRUSTEE 2.00 X 0 0 0 BRIAN M CLEMENTS TRUSTEE 2.00 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 M SCHAUBACH 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 218399 0 15353 ANNE CLAYWELL HEAD OF UPPER SCHOOL 40.00 X 103202 0 2787 STACY NIXON ASSISTANT HEAD FOR ADVANCEMENT 40.00 X 135574 0 3218 CARY SAWYER DIRECTOR OF FINANCE AND OPERATIONS 40.00 X 127775 0 9079 584950 0 30437 5 0 1 0 THE BUDD GROUP INC PO BOX 890856 CHARLOTTE NC 28289 BUILDING & MAINTENANCE 698847 FLIK DINING SERVICES 2 INTERNATIONAL DR RYE BROOK NY 10573 FOOD SERVICE 649133 ALPHA GROUP INVESTIGATIONS 765 W LITTLE CREEK RD B NORFOLK VA 23505 SECURITY SERVICES 106157 3 1426571 108823 1426571 TUITION 611710 11895471 11895471 AUXILIARY SERVICES 611710 131501 131501 STUDENT ACTIVITIES 611710 39 39 12027011 88489 88489 146723 52994 93729 93729 93729 1648319 1640470 517 7849 -517 7332 7332 304310 115453 188857 188857 13831989 12027011 0 378407 1965415 1965415 261695 200374 41994 19327 5145142 4023468 726177 395497 299262 233785 65477 448946 334581 93708 20657 10673 10673 1045262 772996 266697 5569 108209 108209 30050 30050 311922 284828 27094 1613 1613 271038 271038 737522 737522 105584 105584 SCHOLARSHIPS 744232 744232 DINING SERVICES 635212 635212 ATHLETIC DEPARTMENT 344300 344300 LEARNING RESOURCE PROGR 188952 188952 902342 588830 286518 26994 13557371 11431117 1656597 469657 3089572 3693935 362830 334368 588303 448236 32810 51563 40320 32442 150977 168436 31700138 14216825 17916711 17483313 2949059 2761603 111479 127887 25242061 25101783 683124 760620 2547023 2722130 5446318 5189535 191712 149387 8868177 8821672 X 13406372 13544553 2967512 2735558 16373884 16280111 25242061 25101783 X 274618 -378685 10294 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2638878 114649 -278576 -99333 2375618 2169407 7179 573450 111158 2638878 3502202 2639 38067 1373501 2169407 4059147 21698 336922 915565 3502202 4177539 7379 241079 460424 4059147 0.02539 0.34365 0.63096 0 0 2674688 2674688 26976400 12503669 14472731 1778628 1624128 154500 270422 89028 181394 17483313 X 11655957 -378685 178741 -199944 11855901 10673 1965415 1976088 13831989 11749730 168447 168447 11581283 10673 1965415 1976088 13557371 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 115,453. RENTAL EXPENSES 52,994. CHANGE IN INTEREST IN NET ASSETS OF RECIPIENT ORGANIZATION 10,294. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,965,415. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 115,453. RENTAL EXPENSES 52,994. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,965,415. 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 102577 102577 63287 AUCTION 114254 114254 5000 17105 16418 2 87479 87479 182 13461 304310 304310 5000 17287 93166 115453 188857 1 NEED BASED FINANCIAL AID FOR TUITION 235 1965415 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 194629 0 0 0 23770 0 15353 0 0 0 233752 0 0 0 A NORFOLK AIRPORT AUTHORITY 2012A 546001465 2012-06-27 3990750 BUILDINGS AND STRUCTURES 0 1 0 B NORFOLK AIRPORT AUTHORITY 2012B 546001465 2012-06-27 1330250 BUILDINGS AND STRUCTURES 0 1 0 C NORFOLK AIRPORT AUTHORITY 2015B 546001465 2015-04-30 592000 TO CONSTRUCT TWO ARTIFICIAL TURF ATHLETIC FIELDS AND INSTALL LIGHTING 0 1 0 D NORFOLK AIRPORT AUTHORITY 2015A 546001465 2015-04-30 2700000 TO CONSTRUCT TWO ARTIFICIAL TURF ATHLETIC FIELDS AND INSTALL LIGHTING 0 1 0 A 3990750 3990750 52313 3938437 0 0 1 1 B 1330250 1330250 52312 1277938 0 0 1 1 C 592000 592000 592000 0 0 1 1 D 2700000 2700000 35000 2665000 0 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 1 0 0 0 0 C 0 0 0 0 1 0 0 0 0 D 0 0 0 0 1 0 0 0 0 A NORFOLK AIRPORT AUTHORITY BOND SERIES 2022 546001465 2022-03-28 5283000 BUILDINGS AND STRUCTURES 0 1 0 A 93465 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 X 4 73336 FMV X SUPPLIES 3 35487 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 10,294. 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. NC ACORN I 7336 GRANBY ST NORFOLK VA 23505 274477325 REAL ESTATE HOLDINGS VA 0 0 NCS REAL ESTATE HOLDING LLC NC ACORN II 7336 GRANBY ST NORFOLK VA 23505 274477325 REAL ESTATE HOLDINGS VA 0 0 NCS REAL ESTATE HOLDING LLC NC ACORN III 7336 GRANBY ST NORFOLK VA 23505 274477325 REAL ESTATE HOLDINGS VA 0 0 NCS REAL ESTATE HOLDING LLC NC ACORN IV 7336 GRANBY ST NORFOLK VA 23505 274477325 REAL ESTATE HOLDINGS VA 0 0 NCS REAL ESTATE HOLDING LLC NC ACORN V 7336 GRANBY ST NORFOLK VA 23505 274477325 REAL ESTATE HOLDINGS VA 0 0 NCS REAL ESTATE HOLDING LLC NC ACORN VI 7336 GRANBY ST NORFOLK VA 23505 274477325 REAL ESTATE HOLDINGS VA 0 0 NCS REAL ESTATE HOLDING LLC 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