2023-05-09T15:49:47-05:00 2022-06-30 WITHUM SMITH BROWN PC 506 CARNEGIE CENTER STE 400 PRINCETON NJ 085406243 990 2021-07-01 210635004 The Pennington School % BRENDA COLE PENN 6097371838 112 W Delaware Ave Pennington NJ 08534 Brenda Cole CHIEF FINCL OFFICER 6097376120 2023-05-05 true Brenda Cole 999009999 GLENN BELLOMY P00579162 6095201188 2 2021 2023-04-26 12:10:37Z Brenda Cole 112 W Delaware Ave Pennington NJ 08534 46748265 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 34 291 214 86212 75782 5012724 5616852 26070932 28599730 2074271 6287958 219960 371340 33377887 40875880 6243740 7482964 0 0 15246315 15640955 0 0 1325553 9751271 11089302 31241326 34213221 2136561 6662659 95126184 90118133 22976650 22158855 72149534 67959278 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 26440206 7482964 28725542 COEDUCATIONAL DAY/BOARDING SCHOOL SERVICING GRADES 6 THROUGH 12. THERE ARE APPROXIMATELY 525 STUDENTS. 26440206 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 true false false false false false false false false true 93 0 true 291 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 448110 0 115684 Charles D Brown Director of Advancement 40.0 0.0 X 246327 0 40592 John G McWhirter Chief Financial Officer 40.0 0.0 X 218042 0 17139 Scott E Peeler Dean of Academic Affairs 40.0 0.0 X 121093 0 64309 Melissa F von Stade Director of Advancement 40.0 0.0 X 141359 0 18339 Sharon Jarboe Director of Admission 40.0 0.0 X 113435 0 31948 Joannah Prockop Director of the Learning Cente 40.0 0.0 X 113534 0 18185 John S Biddiscombe Trustee 2.0 0.0 X 0 0 0 Rev Hector Burgos Trustee 2.0 0.0 X 0 0 0 Rev Dr Virginia Samuel Cetuk Trustee 2.0 0.0 X 0 0 0 Soopakij Chris Chearavanont Trustee 2.0 0.0 X 0 0 0 A Louis Denton Esq Trustee 2.0 0.0 X 0 0 0 Lisa Espinoza MD Trustee 2.0 0.0 X 0 0 0 Jordan M Gray Trustee 2.0 0.0 X 0 0 0 Jack Green Trustee 2.0 0.0 X 0 0 0 William S Hawkey Trustee 2.0 0.0 X 0 0 0 Celeste Jackson Trustee 2.0 0.0 X 0 0 0 Michael D Jingoli Trustee 2.0 0.0 X 0 0 0 Dennis S Keating Trustee 2.0 0.0 X 0 0 0 Minsoo Kim Trustee 2.0 0.0 X 0 0 0 Jacob Levy Trustee 2.0 0.0 X 0 0 0 David J Long III Trustee 2.0 0.0 X 0 0 0 Dan Mahony Trustee 2.0 0.0 X 0 0 0 The Reverend Dr Donald Medley Trustee 2.0 0.0 X 0 0 0 The Reverend Dr David C Mertz Trustee 2.0 0.0 X 0 0 0 Swati Navani Trustee 2.0 0.0 X 0 0 0 William Oldsey Trustee 2.0 0.0 X 0 0 0 Brenda Martini O'loughlin Trustee 2.0 0.0 X 0 0 0 Matthew Pauls Trustee 2.0 0.0 X 0 0 0 Jason Ridings Trustee 2.0 0.0 X 0 0 0 Katherine Q Rosa Trustee 2.0 0.0 X 0 0 0 Judith Rosenberg Trustee 2.0 0.0 X 0 0 0 Bishop John R Schol Trustee 2.0 0.0 X 0 0 0 Steven M Silberman Trustee 2.0 0.0 X 0 0 0 Erich Stegich Trustee 2.0 0.0 X 0 0 0 Stephen Tan Trustee 2.0 0.0 X 0 0 0 Peter J Tucci Esq Trustee 6.0 0.0 X 0 0 0 Cynthia Wallace Trustee 2.0 0.0 X 0 0 0 Jian Jim Wang PhD Trustee 2.0 0.0 X 0 0 0 Julie Wulf Trustee 4.0 0.0 X 0 0 0 Dr John McGuire Trustee 2.0 0.0 X 0 0 0 1401900 0 306196 12 false true false AMERIHEALTH INS CO OF NEW JERSEY 259 PROSPECT PLAINS RD CRANBURY NJ 08512 MEDICAL INSURANCE 1816627 SODEXO INC AFFILIATES 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 DINING SERVICES 1766601 ASTROTURF CORPORATION 2680 ABUTMENT RD DALTON GA 30721 CONTRACTOR 618278 COMMERCIAL CLEANING CORP 311 N CLINTON AVE CHICAGO IL 60606 HOUSEKEEPING SERVICE 494932 VAN CLEEF ENGINEERING ASSOCIATES 32 BROWER LN HILLSBOROUGH TOWNSHI NJ 08844 ENGINEER 177204 10 83222 5533630 200345 5616852 TUITION & FEES 611110 28599730 28599730 28599730 1423017 1423017 0 0 259710 76398 183312 0 183312 80512 102800 10538524 5673583 4864941 4864941 4864941 27534 83222 27534 0 0 0 151381 94870 56511 56511 MISC SCHOOL INCOME 900099 125817 125817 YEARBOOK ADVERTISING 541800 5700 5700 131517 40875880 28725547 86212 6447269 12532 12532 7470432 7470432 0 0 703087 481426 180100 41561 0 11532179 7841882 2998366 691931 747009 504638 196926 45445 1803148 1226141 468818 108189 855532 581762 222438 51332 0 58125 39524 15113 3488 63000 42840 16380 3780 0 0 244722 244722 2090885 2090885 76280 51870 19833 4577 2246361 1527510 584068 134783 113164 76952 29423 6789 0 2591486 1823924 623644 143918 65132 44290 16934 3908 0 65055 44237 16915 3903 355647 355647 0 2837464 2031967 740467 65030 281981 191747 73315 16919 34213221 26440206 6447462 1325553 X 0 0 9604729 6986164 1020953 1880654 75376 37861 0 0 0 0 0 0 99568 107587 181159 353482 64726168 26132043 39456459 38594125 44687940 42068025 0 90235 0 0 0 0 0 0 95126184 90118133 3088186 3085861 0 0 5951163 5643320 13186080 12499979 0 0 0 0 751221 721909 0 0 0 207786 22976650 22158855 X 47576999 43974445 24572535 23984833 72149534 67959278 95126184 90118133 X 6662659 -10792131 -60784 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 47959619 1450657 -4745319 -1760190 46425147 38891186 160988 10581486 -1714041 51347701 39983321 981028 -339705 1733458 38891186 39571983 507080 1435236 1530978 39983321 37565076 655351 2830192 1478636 39571983 0.52460 0.47540 true false 258677 258677 53915520 22262960 31652560 0 0 0 4219457 3117919 1101538 6332514 751164 5581350 38594125 0 CAPITAL LEASE PAYABLE 207786 207786 X 22563393 -10792131 144400 -10647731 33211124 194324 7470432 7664756 40875880 26753649 205184 205184 26548465 194324 7470432 7664756 34213221 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, 2022, 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, 2022 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, 2022, 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............................... 94,870 UBIT - RECLASS ENTRIES........................... 21,996 SPECIAL EVENTS EXPENSES.......................... 27,534 ---------------------------------------------------------------- TOTAL............................................ 144,400 SCHEDULE D, PART XII, LINE 2D COST OF GOODS SOLD............................... 94,870 UBIT - RECLASS ENTRIES........................... 21,996 SPECIAL EVENTS EXPENSES.......................... 27,534 BAD DEBT EXPENSE.................................. 60,784 ---------------------------------------------------------------- TOTAL............................................ 205,184 SCHEDULE D, PART XII, LINE 4B FINANCIAL AID..................................... 7,470,432 SCHEDULE D, PART XI, LINE 4B FINANCIAL AID..................................... 7,470,432 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 110756 83222 27534 27534 0 110756 83222 27534 27534 27534 true FINANCIAL AID 153 5063835 FMV SCHOLARSHIPS/TUITION TUITION REMISSION 33 1455400 FMV FACULTY AID SEE EXPLANATION FOR PART I, LINE 2 THERE WERE 153 RECIPIENTS OF FINANCIAL AID AND 33 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 448110 0 0 0 0 0 20300 0 95384 0 563794 0 0 0 John G McWhirter Chief Financial Officer 218042 0 0 0 0 0 15271 0 1868 0 235181 0 0 0 Charles D Brown Director of Advancement 246327 0 0 0 0 0 17818 0 22774 0 286919 0 0 0 Melissa F von Stade Director of Advancement 141359 0 0 0 0 0 10059 0 8280 0 159698 0 0 0 Scott E Peeler Dean of Academic Affairs 121093 0 0 0 0 0 8546 0 55763 0 185402 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 $ 95,384 SCOTT PEELER $24,930 PART I, LINE 4B - COMPENSATION QUESTIONS WILLIAM HAWKEY WAS PROVIDED A SUPPLEMENTAL PENSION IN 2021-2022. THE COST WAS $19,500. 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 false false 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 X 5 188345 FAIR VALUE X donated items 1 12000 fmv false true false 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..................................... 60,784