2023-05-09T14:08:38-05:00 2022-06-30 510232475 Cover & Rossiter PA 2711 Centerville Road Suite 100 Wilmington DE 19808 990 2021-07-01 510079506 St Andrew's School Of Delaware Inc STAN 3023789511 350 Noxontown Rd Middletown DE 197091605 J Brian Maxwell CFO 3023789511 2023-05-08 1 J Brian Maxwell 999009999 Peter Kennedy P00571422 3026566632 2023-05-08 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z J Brian Maxwell 350 Noxontown Rd Middletown DE 197091605 42315206 0 X www.standrews-de.org X 1929 DE St. Andrew's School is a co-ed boarding school, grades 9 through 12. 24 23 225 0 0 0 7926400 6199507 19309297 20014963 5646491 4120357 -93772 60949 32788416 30395776 7321434 7373815 0 0 13625404 15501012 0 0 1938829 8371415 9348720 29318253 32223547 3470163 -1827771 398873444 372051018 43287920 44702123 355585524 327348895 X The School's mission is to provide secondary education of a definitely Christian character at a minimum cost consistent with modern equipment and highest standards. St. Andrew's School is a coed boarding school of students and faculty who live on a pristine 2,200-acre campus, learning together and collaborating to pursue their passions in academics, athletics, service, and the arts. 0 0 26438218 7373815 20100874 The School is a coed boarding school, grades 9 through 12, providing a secondary education of a Christian character in an entirely residential program. 26438218 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 1 0 1 0 0 0 0 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 76 0 1 225 1 1 1 1 CJ 0 0 0 0 0 0 0 0 0 0 X 24 23 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X J Brian Maxwell 3023789511 350 Noxontown Road Middletown DE 19709 SCOTT M SIPPRELLE CHAIR 10.00 X X 0 0 0 HENRY DU PONT RIDGELY VICE CHAIR 3.00 X X 0 0 0 RICHARD B VAUGHAN TREASURER 5.00 X X 0 0 0 ANDREA SIN SECRETARY 3.00 X X 0 0 0 MERCEDES ABRAMO TRUSTEE 2.00 X 0 0 0 GRACE H GAHAGAN FOUNDER TRUSTEE 2.00 X 0 0 0 KELLIE S DOUCETTE TRUSTEE 3.00 X 0 0 0 BISHOP KEVIN S BROWN TRUSTEE 3.00 X 0 0 0 JENNIFER B THOMAS PARENT TRUSTEE 2.00 X 0 0 0 SARAH F BELK TRUSTEE 2.00 X 0 0 0 KHALIL G SALIBA TRUSTEE 2.00 X 0 0 0 CHARLES P DURKIN TRUSTEE 3.00 X 0 0 0 ARI K ELLIS TRUSTEE 3.00 X 0 0 0 MATI BUCCINI TRUSTEE 2.00 X 0 0 0 AARON BARNES PARENT TRUSTEE 2.00 X 0 0 0 MONICA CARMEL MATOUK TRUSTEE 2.00 X 0 0 0 EDITH JOHNSON TRUSTEE 2.00 X 0 0 0 L HEATHER MITCHELL TRUSTEE 2.00 X 0 0 0 PAUL F MURPHY TRUSTEE 2.00 X 0 0 0 LAURISA S SCHUTT TRUSTEE 2.00 X 0 0 0 STACI W SEELEY TRUSTEE 2.00 X 0 0 0 JOHN EISENBREY TRUSTEE 2.00 X 0 0 0 MOIRA FORBES TRUSTEE 2.00 X 0 0 0 KATHARINE DU PONT GAHAGAN CHAIR EMERITA 1.00 X 0 0 0 J KENT SWEEZEY CHAIR EMERITUS 1.00 X 0 0 0 MONIE T HARDWICK TRUSTEE EMERITA 1.00 X 0 0 0 MAUREEN K HARRINGTON TRUSTEE EMERITA 1.00 X 0 0 0 SABINA B FORBES TRUSTEE EMERITA 1.00 X 0 0 0 TIMOTHY W PETERS TRUSTEE EMERITUS 1.00 X 0 0 0 STEVEN B PFEIFFER TRUSTEE EMERITUS 1.00 X 0 0 0 SALLY PINGREE TRUSTEE EMERITA 1.00 X 0 0 0 CAROLINE DUPONT PRICKETT TRUSTEE EMERITA 1.00 X 0 0 0 DANIEL T ROACH JR HEAD OF SCHOOL 60.00 X X 465496 0 58583 JOY MCGRATH HEAD OF SCHOOL (EFFECTIVE 4/1/2021) 60.00 X X 289976 0 52749 EDWARD M STRONG TRUSTEE EMERITUS 1.00 X 0 0 0 ALEXANDER D STUART TRUSTEE EMERITUS 1.00 X 0 0 0 JAMES B MAXWELL CHIEF FINANCIAL OFFICER 50.00 X 153464 0 21192 ANN S VISALLI CHIEF OPERATING OFFICER 50.00 X 224091 0 29148 ELIZABETH M ROACH DEAN OF TEACHING & LEARNIN 50.00 X 134975 0 14910 BERNICE HERING-WHALEY DIRECTOR OF DEVELOPMENT 50.00 X 138935 0 25404 HEATHER DALY DEAN OF ADMISSIONS 50.00 X 137075 0 134329 JASON HONSEL DIRECTOR OF COLLEGE COUNSE 50.00 X 127823 0 77486 DAVID L MCKELVEY DIRECTOR OF FACILITIES MAN 50.00 X 127263 0 41069 ANA RAMIREZ ASSOCIATE HEAD OF SCHOOL 60.00 X 121828 0 31159 1920926 0 486029 13 0 1 0 NOWLAND ASSOCIATES 2009 OGLETOWN ROAD NEWARK DE 19711 CONSTRUCTION 4067043 SAGE DINING SERVICES 1402 YORK ROAD LUTHERVILLE MD 21093 DINING 1867828 HIGHMARK DELAWARE PO BOX 382162 PITTSBURGH PA 15251 INSURANCE BROKER 1329781 WILMINGTON TRUST NA 1100 NORTH MARKET STREET WILMINGTON DE 19801 INVESTMENT MANAGEMENT 845600 PARKOWSKI GUERKE & SWAYZE 116 WEST WATER STREET DOVER DE 19903 LEGAL 518794 18 6199507 494062 6199507 TUITION 611600 19618200 19618200 AUXILIARY SERVICES 611600 396763 396763 20014963 4807878 4807878 115739 140701 -24962 -24962 -24962 11091208 11778729 -687521 -687521 -687521 OTHER REVENUE 611600 85911 85911 85911 30395776 20100874 0 4095395 7373815 7373815 1294700 1045340 124939 124421 10517865 8491877 1014528 1011460 1118036 902678 107848 107510 1473362 1189558 142117 141687 1097049 885734 105823 105492 90212 90212 91625 91625 253649 253649 775688 551347 100829 123512 46088 46088 234042 216596 14713 2733 391772 104993 286779 804543 804543 166611 125919 4704 35988 135415 127103 854 7458 908669 908669 215484 215484 DINING SERVICE 1659120 1659120 PRRSM AND CAPITAL 1195607 1195607 FACILITIES AND GROUNDS 555448 438151 117297 AUXILIARY PROGRAMS 469117 469117 1355630 810632 266430 278568 32223547 26438218 3846500 1938829 2364624 2704469 5101896 3953579 280864 220289 167948 140527 1211692 1216735 149894873 0 144840864 149894873 11632386 8864983 231885793 203924479 1387377 1131084 398873444 372051018 1383761 2243786 2078461 2024414 39166946 39022398 658752 1411525 43287920 44702123 X 281006419 256700346 74579105 70648549 355585524 327348895 398873444 372051018 X -1827771 -25406313 -1002545 X X 0 1 X 1 0 X 13782680 4898334 11506695 7926400 6199507 44313616 13782680 4898334 11506695 7926400 6199507 44313616 5594964 38718652 1743190 5334067 8003845 5692300 4923617 25697019 70010635 97353031 0.55300 0.54660 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 251973845 1631448 -21471842 7373815 6415040 218344596 195292969 4837119 62546280 7321434 3381089 251973845 196480737 8835080 -99057 6706306 3217485 195292969 194901915 1184846 8782590 7148813 1239801 196480737 194120169 2329703 10640131 6486595 5701493 194901915 0.68950 0.28860 0.02190 0 0 8028754 8028754 135963784 135963784 5902335 5902335 149894873 HEDGE FUNDS AND PRIVATE EQUITY @ NAV 203924479 F 203924479 LIABILITY UNDER CHARITABLE REMAINDER TRUSTS 98028 RETIREE INSURANCE OBLIGATION 530169 LIABILITY ON INTEREST RATE SWAP AGREEMENT 2223 UNDERFUNDED PENSION LIABILITY 781105 1411525 -3876170 -25406313 -8611984 -34018297 30142127 253649 253649 30395776 32203391 0 32203391 20156 20156 32223547 Part V, Line 4: The School's endowment fund supports scholarships and operation of the education program. Part XI, Line 2d - Other Adjustments: Scholarships netted -7,373,815. Pension Plan Adjustment -1,040,804. Interest Rate Swap Adjustment 38,259. Capital Expenses 233,493. Auxiliary Expense -469,117. Part XII, Line 4b - Other Adjustments: Capital Expense -233,493. Investment Expenses 253,649. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 St. Andrew's website reflects that admission is open to all qualified students regardless of background or ability to pay; ADVIS (Association Of Delaware Valley Independent Schools) public information ad carried in numerous area newspapers Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Investment N/A 10785531 0 0 0 0 0 0 10785531 0 10785531 0 0 0 0 0 0 Part I, line 3: FMV of investment balance at year end Part III Accounting Method: 1 SCHOLARSHIPS 153 7373815 FMV Part I, Line 2: Scholarship assistance is provided on the basis of need and applicants are evaluated by the School's Financial Aid Committee against established criteria. X X X 1 1 X X X 0 1 0 0 0 0 0 0 0 DANIEL T ROACH JR HEAD OF SCHOOL 465496 0 0 0 0 0 38750 0 19833 0 524079 0 0 0 JOY MCGRATH HEAD OF SCHOOL (EFFECTIVE 4/1/2021) 289976 0 0 0 0 0 48000 0 4749 0 342725 0 0 0 HEATHER DALY DEAN OF ADMISSIONS 137075 0 0 0 0 0 14186 0 120143 0 271404 0 0 0 ANN S VISALLI CHIEF OPERATING OFFICER 224091 0 0 0 0 0 21930 0 7218 0 253239 0 0 0 JASON HONSEL DIRECTOR OF COLLEGE COUNSE 127823 0 0 0 0 0 13259 0 64227 0 205309 0 0 0 JAMES B MAXWELL CHIEF FINANCIAL OFFICER 153464 0 0 0 0 0 15375 0 5817 0 174656 0 0 0 DAVID L MCKELVEY DIRECTOR OF FACILITIES MAN 127263 0 0 0 0 0 13060 0 28009 0 168332 0 0 0 BERNICE HERING-WHALEY DIRECTOR OF DEVELOPMENT 138935 0 0 0 0 0 14140 0 11264 0 164339 0 0 0 ANA RAMIREZ ASSOCIATE HEAD OF SCHOOL 121828 0 0 0 0 0 12515 0 18644 0 152987 0 0 0 Part I, Line 1a The School provides housing for the Head of School and Associate Head of School as a condition of employment. Both are considered to be key or highly compensated employees and as such are listed on the Form 990, Part VII. Part I, Line 4b The Head of School, Joy McGrath, is a participant in a nonqualified Section 457 Plan. The School made a contribution of $11,451 during the year ended 6/30/22. A Delaware Economic Development Authority 510269736 2020-04-30 24175492 Refinanced portion of Series 2010, Issue date of refunded debt 11/10/2010 0 0 0 B Delaware Economic Development Authority 510269736 2017-06-01 5000000 Refinanced portion of Series 2008, Issue date of refunded debt 12/23/2008 0 0 0 C Delaware Economic Development Authority 510269736 2017-06-01 10200000 Refinanced portion of Series 2002, Issue date of refunded debt 08/29/2002 0 0 0 A 24175492 351052 23824440 2020 1 0 1 1 B 5000000 5000000 2017 1 0 1 1 C 64000 10200000 200000 10000000 2017 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 1 0 0 0 0 NA 0 0 0 0 1 B 0 0 1 0 1 1 Bank of America 15.000000000000 0 0 0 0 1 C 0 0 1 0 1 0 NA 0 0 0 0 1 A 1 B 1 C 1 Schedule K Supplental Information Issues are private placements and do not have cusip numbers. Schedule K, Additional Information: 2017A and 2017B bond agreements were amended to extend the maturity date and replace LIBOR benchmark with Bloomberg Short-Term Bank Yield Index. X 42 494062 Fair market value 0 1 0 Form 990, Part VI, Section A, line 2 Some Trustees have a common family relationship. Form 990, Part VI, Section B, line 11b Form 990 is reviewed by the CFO, the COO, the Chair of Finance Committee and the President of the Board. It is then made available to all Board Members prior to filing. Form 990, Part VI, Section B, line 12c Trustees are required to annually sign conflict of interest statements and disclose any known or potential conflicts of interest in these statements. Form 990, Part VI, Section B, line 15 St. Andrew's School's Trustees are all independent of the School's paid employees. Annually, the Trustees will make compensation decisions for its employees with no input from the employees themselves. Employees are not present when votes on compensation decisions are held and those votes are formally documented in the meeting minutes within one week of the meeting. The Trustees' decisions are based on their extensive knowledge and experience with compensation practices of other comparable organizations. Form 990, Part VI, Section C, line 19 There currently exists no legal requirement to make governing documents, conflict of interest policies or audited financial statements publicly available. St. Andrew's School of DE, Inc. has never received a request for information of this type. If any requests for this information should be received, they would be evaluated by the Trustees on a case by case basis. In general, the Trustees believe that the information available on this form would be more than sufficient to respond to most legitimate inquiries. Form 990, Part XI, line 9: INTEREST RATE SWAP ADJUSTMENT 38,259. PENSION PLAN OBLIGATION ADJUSTMENT -1,040,804. Form 990, Part XI, Line 2c: The School has an Audit & Finance Committee that assumes responsibility for oversight of the financial statement audit and the selection of the independent auditors. ST ANNE'S EPISCOPAL SCHOOL INC 211 SILVER LAKE ROAD MIDDLETOWN DE 19709 510404800 EDUCATIONAL INSTITUTION DE 501(c)(3) 509(a)(1) 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 ST ANNE'S EPISCOPAL SCHOOL INC J 0 CONTRACT AGREEMENT ST ANNE'S EPISCOPAL SCHOOL INC R 290500 FMV