2023-05-11T12:39:06-05:00 2022-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 200 SOUTH 10TH ST STE 900 RICHMOND VA 23219 990 2021-07-01 540528203 THE COLLEGIATE SCHOOL COLL 8047407077 103 NORTH MOORELAND ROAD RICHMOND VA 23229 PHYLLIS PALMIERO CFO & COO 8047419799 2020-05-10 1 PHYLLIS PALMIERO XXX-XX-XXXX AMANDA ADAMS P00748038 8046735700 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z PHYLLIS PALMIERO 103 NORTH MOORELAND ROAD RICHMOND VA 23229 62500637 0 X WWW.COLLEGIATE-VA.ORG X 1915 VA SEE SCHEDULE O TO CREATE A DIVERSE AND INCLUSIVE COMMUNITY OF LEARNERS COMMITTED TO A CHALLENGING AND SUPPORTIVE EDUCATIONAL EXPERIENCE THAT WILL FOSTER THE INTELLECTUAL, MORAL, EMOTIONAL, AND PHYSICAL DEVELOPMENT OF EACH STUDENT. 25 24 731 900 204616 0 9344811 2705234 43798646 48977102 2999198 4554732 355387 224311 56498042 56461379 4289091 4317020 0 0 33906352 36925155 0 0 2083802 13671197 15100049 51866640 56342224 4631402 119155 174659421 167036679 39091944 38702884 135567477 128333795 X TO CREATE A DIVERSE AND INCLUSIVE COMMUNITY OF LEARNERS COMMITTED TO A CHALLENGING AND SUPPORTIVE EDUCATIONAL EXPERIENCE THAT WILL FOSTER THE INTELLECTUAL, MORAL, EMOTIONAL, AND PHYSICAL DEVELOPMENT OF EACH STUDENT. 0 0 44933402 4317020 44968140 INSTRUCTIONAL - COLLEGIATE SCHOOL PROVIDED JUNIOR KINDERGARTEN THROUGH TWELFTH GRADE EDUCATION TO 1,699 STUDENTS. THE FOLLOWING STATISTICS FOR THE GRADUATING CLASS OF 2022 HIGHLIGHT THE QUALITY OF THE ACADEMIC AND ATHLETIC PROGRAMS THAT COLLEGIATE OFFERS. THE CLASS CONTINUED THE SCHOOL'S TRADITION OF STRONG ACADEMIC ACCEPTANCE RATES, CONTRIBUTING TO THE 10-YEAR AVERAGE OF TWO OUT OF EVERY THREE APPLICATIONS RESULTING IN ACCEPTANCES. THESE INCLUDED A HOST OF "MOST SELECTIVE" COLLEGES AND UNIVERSITIES SUCH AS YALE, NOTRE DAME, DARTMOUTH, DUKE, PRINCETON AND GEORGETOWN. THE CLASS OF 2022 HAD 24 RECRUITED ATHLETES, 9 WENT ON TO COMPETE AT DIVISION I SCHOOLS, AND 15 WENT ON TO COMPETE AT DIVISION III SCHOOLS. COLLEGIATE SCHOOL ALSO VIRTUALLY HOSTED 46 STUDENTS FROM AROUND THE WORLD DURING ITS 11TH ANNUAL INTERNATIONAL EMERGING LEADERS CONFERENCE (VIRTUAL) IN OCTOBER 2022. THE CONFERENCE IS BELIEVED TO BE THE ONLY COLLABORATIVE GLOBAL YOUTH CONFERENCE OF ITS KIND AMONG PUBLIC AND PRIVATE SCHOOLS NATIONWIDE. 2695913 2905754 AUXILIARIES - THE SCHOOL OPERATES, FOR THE BENEFIT AND CONVENIENCE OF PARENTS, STUDENTS, AND ALUMNI, SEVERAL AUXILIARY SERVICES INCLUDING FOOD SERVICE (CAFETERIAS), A CAMPUS BOOKSTORE, EXTENDED DAY CARE, AND PRIVATE MUSIC INSTRUCTION, AMONG OTHERS. 1036094 1242269 PUBLIC SERVICE - THE SCHOOL OFFERS A SUMMER ECONOMICS INSTITUTE, SUMMER PROGRAMS, AND SEVERAL YOUTH SPORTS PROGRAMS TO THE GREATER RICHMOND COMMUNITY. 48665409 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 142 1 1 731 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X PHYLLIS PALMIERO CFO & COO 8047419799 103 NORTH MOORELAND ROAD RICHMOND VA 23229 CARTER M REID CHAIRMAN OF THE BOARD 10.00 0.00 X X 0 0 0 W HILDEBRANDT SURGNER JR VICE CHAIRMAN OF THE BOARD 10.00 0.00 X X 0 0 0 JOHN W MARTIN IMMEDIATE PAST CHAIRMAN OF THE BOARD 2.00 0.00 X X 0 0 0 PENNY EVINS PRESIDENT/HEAD OF SCHOOL 40.00 0.00 X X 619782 0 131145 KAREN BERSON TRUSTEE 2.00 0.00 X 0 0 0 ELLEN T BONBRIGHT TRUSTEE 2.00 0.00 X 0 0 0 CALLIE LACY BRACKETT TRUSTEE 2.00 0.00 X 0 0 0 MAYME BETH F DONOHUE TRUSTEE 2.00 0.00 X 0 0 0 MASON T CHAPMAN TRUSTEE 2.00 0.00 X 0 0 0 EUCHARIA N JACKSON TRUSTEE 2.00 0.00 X 0 0 0 PETER E MAHONEY SR TRUSTEE 2.00 0.00 X 0 0 0 NEELAN A MARKEL TRUSTEE/SECRETARY 2.00 0.00 X X 0 0 0 MALCOLM S MCDONALD LIFE TRUSTEE 2.00 0.00 X 0 0 0 MORENIKE K MILES TRUSTEE 2.00 0.00 X 0 0 0 WILLIAM S PEEBLES IV TRUSTEE 2.00 0.00 X 0 0 0 J CHEAIRS PORTER JR TRUSTEE 2.00 0.00 X 0 0 0 MEERA PAHUJA TRUSTEE 2.00 0.00 X 0 0 0 KENNETH P RUSCIO TRUSTEE 2.00 0.00 X 0 0 0 JOHN H RIVERS JR TRUSTEE 2.00 0.00 X 0 0 0 DANIELLE D SCOTT TRUSTEE 2.00 0.00 X 0 0 0 JULIOUS P SMITH III TRUSTEE 2.00 0.00 X 0 0 0 L MARK STEPANIAN TRUSTEE 2.00 0.00 X 0 0 0 WALLACE STETTINIUS LIFE TRUSTEE 2.00 0.00 X 0 0 0 JASMINE TURNER TRUSTEE 2.00 0.00 X 0 0 0 R GREGORY WILLIAMS LIFE TRUSTEE 2.00 0.00 X 0 0 0 PHYLLIS PALMIERO TREASURER/CFO & COO 40.00 0.00 X 263566 0 74684 AMY R MILLER SECRETARY/ASST TO HEAD OF SCHOOL 40.00 0.00 X 53229 0 16220 KRISTEN O WILLIAMS CHIEF DEVELOPMENT OFFICER 40.00 0.00 X 156039 0 63381 SCOTT SMITH DIRECTOR OF ADMISSION AND ENROLLMENT MANAGEMENT 40.00 0.00 X 144697 0 34245 PATRICK E LOACH HEAD OF UPPER SCHOOL 40.00 0.00 X 152331 0 63110 KAREN S DOXEY ATHLETIC DIRECTOR 40.00 0.00 X 138306 0 29886 TUNG TRINH HEAD OF MIDDLE SCHOOL 40.00 0.00 X 142443 0 60219 1670393 0 472890 24 0 1 0 CONQUEST MONCURE AND DUNN INC 208 E CARY ST RICHMOND VA 23219 CONSTRUCTION 650658 ALLADIN FOOD MANAGEMENT SERVICES 300 S TRYON ST STE 400 CHARLOTTE NC 28202 FOOD SERVICE 596871 BAKER AND HAZLEWOOD MECHANICAL CONTRACTO 320 LORDLEY LN RICHMOND VA 23224 MECHANICAL CONTRACTING SERVICES 544100 BAKER ROOFING COMPANY DEPT 260 PO BOX 1431 CHARLOTTE NC 28201 ROOFING CONTRACTOR 340503 DAIKIN APPLIED 24827 NETWORK PLACE CHICAGO IL 60673 HVAC CONTRACTORS 269866 10 169769 2000 2533465 336272 2705234 TUITION & FEES 611600 44115909 44115909 FOOD SERVICE 611660 1617797 1617797 SUMMER PROGRAMS 611600 1122788 1122788 CHILD CARE 611600 881861 881861 PRIVATE MUSIC LESSONS 611600 269492 269492 969255 969255 48977102 329034 204616 124418 76776 58040 18736 18736 18736 9224979 56045 4974955 80371 4250024 -24326 4225698 4225698 485949 169769 438989 46960 46960 39246 19693 19553 19553 606272 467210 139062 139062 56461379 49116164 204616 4435365 4317020 4317020 1035971 250309 535353 250309 24872118 22423973 1600609 847536 1935294 1717710 165097 52487 7246201 5859201 820760 566240 1835571 1614518 167738 53315 219487 219487 59571 59571 456881 456881 3614327 2918227 645846 50254 1596025 1276723 290583 28719 417186 360840 55740 606 5493 5493 1369952 1323290 26928 19734 569714 522866 38016 8832 171799 155667 12310 3822 670991 646107 24026 858 5162535 4990896 142281 29358 302851 30332 272464 55 DUES AND SUBSCRIPTIONS 186338 129559 49199 7580 FIELD TRIP EXPENSE 115493 115493 181406 7185 10124 164097 56342224 48665409 5593013 2083802 640394 1641025 19236031 18369204 3375166 2264236 141090 260221 58191 61626 693192 763272 142184910 85321582 58343196 56863328 19536130 10581245 69338503 73143884 3297528 3088638 174659421 167036679 4042502 4812856 3544624 4149725 15786842 27173900 12737701 2980275 2566403 39091944 38702884 X 71914811 68688973 63652666 59644822 135567477 128333795 174659421 167036679 X 119155 -7664930 312093 X 0 1 X 1 0 X 4138343 2671169 3087805 9344811 2705234 21947362 4138343 2671169 3087805 9344811 2705234 21947362 2625385 19321977 888780 1149905 1130314 454236 405810 4029045 25976407 230237903 0.74380 0.73200 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 88495653 573312 -3529456 564602 2400033 82574874 62964055 9223650 20765827 517585 3940294 88495653 64750553 1400548 1321347 500788 4007605 62964055 65190682 1406476 2557810 467790 3936625 64750553 60485425 3268181 5751783 452333 3862374 65190682 0.32020 0.67980 0.00000 0 0 877900 3697128 4575028 91601362 45800595 45800767 13657541 11645831 2011710 32350979 27875156 4475823 56863328 PARTNERSHIPS 72980238 F PARTNERSHIPS 163646 C 73143884 ACCRUED POST RETIREMENT MEDICAL 2205061 ANNUITIES PAYABLE 85957 ACCRUED INTEREST PAYABLE 120592 FAS 143 LIABILITY 10640 LEASE LIABILITY 144153 2566403 X 44772830 -7664931 -4318627 -11983558 56756388 456881 -751890 -295009 56461379 52019938 827888 827888 51192050 456881 4693293 5150174 56342224 PART V, LINE 4: THE COLLEGIATE SCHOOL'S ENDOWMENT (THE ENDOWMENT) CONSISTS OF APPROXIMATELY 170 INDIVIDUAL ENDOWMENTS, OF WHICH 66% ARE TRUE ENDOWMENTS AND 34% ARE RESTRICTED AND BOARD-DESIGNATED QUASI-ENDOWMENTS. OF THE TRUE ENDOWMENTS, 54% REPRESENTS FUNDS RESTRICTED FOR FACULTY AND PROGRAM DEVELOPMENT, AND 46% REPRESENTS FUNDS RESTRICTED FOR FINANCIAL AID. IT IS THE SCHOOL'S INTENTION THAT THESE FUNDS ARE TO BE USED TO SUPPORT THESE SPECIFIC PURPOSES IN PERPETUITY AND SPENDING IS LIMITED TO THE ANNUAL BOARD-APPROVED SPEND RATE OF 4%. IN ADDITION, THE SCHOOL'S ENDOWMENT CONTAINS AN UNRESTRICTED QUASI-ENDOWMENT FUND THAT ACCOUNTS FOR 32% OF THE TOTAL ENDOWMENT MARKET VALUE AT JUNE 30, 2022. THE QUASI-ENDOWMENT IS AVAILABLE TO BE USED AT THE DISCRETION OF THE BOARD, INCLUDING, AND WITHOUT LIMITATION, TO PAY CAPITAL IMPROVEMENT PROJECT COSTS AND DEBT SERVICE (BOTH CURRENT AND FUTURE) PAYMENTS. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT HAS EVALUATED THE EFFECT OF THE GUIDANCE PROVIDED BY U.S. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT BELIEVES THAT THE SCHOOL CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AT JUNE 30, 2022. MANAGEMENT HAS EVALUATED ALL OTHER TAX POSITIONS THAT COULD HAVE A SIGNIFICANT EFFECT ON THE FINANCIAL STATEMENTS AND DETERMINED THE SCHOOL HAD NO UNCERTAIN INCOME TAX POSITIONS AT JUNE 30, 2022 AND 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH TUITION REVENUE ON FINANCIAL STATEMENTS -4,317,020. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -1,607. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -467,210. AGENCY FUND REVENUES 75,998. RENTAL EXPENSES -58,040. DIRECT FUNDRAISING EVENT EXPENSES -302,638. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 467,210. RENTAL EXPENSES 58,040. DIRECT FUNDRAISING EVENT EXPENSES 302,638. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH TUITION REVENUE ON FINANCIAL STATEMENTS 4,317,020. AGENCY FUND EXPENSES 62,573. CHANGE IN BENEFIT PLAN OBLIGATION 313,700. PART V, LINE 1B: ENDOWMENT CONTRIBUTIONS ARE COMPOSED OF CONTRIBUTIONS AND TRANSFERS. ENDOWMENT CONTRIBUTIONS TOTALED $573,312 FOR THE FISCAL YEAR. ENDOWMENT TRANSFERS TOTALED $1,079,111. THIS AMOUNT WAS TRANSFERRED INTO THE UNRESTRICTED QUASI-ENDOWMENTS, FOR WHICH THE BOARD MAY USE AT ITS DISCRETION. THE BOARD HAS CURRENTLY EARMARKED THE FUNDS TO SUPPORT, AMONG OTHER USES, DEBT SERVICE ON ITS BONDS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE FOLLOWING STATEMENT CAN BE FOUND ON THE HOME PAGE AND THE ADMISSION PAGE OF THE SCHOOL'S WEBSITE, THE FAMILY HANDBOOK, THE EMPLOYEE HANDBOOK AND ALL RECRUITING MATERIALS: THE SCHOOL ADMITS QUALIFIED STUDENTS AND DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL OR ETHNIC ORIGIN, RELIGION, GENDER, SEXUAL ORIENTATION, MENTAL OR PHYSICAL DISABILITY, OR ANY OTHER STATUS PROTECTED BY APPLICABLE LAW IN THE ADMINISTRATION OF ITS ADMISSIONS, SCHOLARSHIPS, AND LOANS, AND ITS EDUCATIONAL, ATHLETIC, AND OTHER PROGRAMS. AUCTION 466805 163918 302887 21203 45018 8995 208427 VILLAGE GREEN FAIR 134600 5851 128749 9867 6895 7268 110767 7 54313 54313 20549 655718 169769 485949 31070 51913 16263 339743 438989 46960 1462 152 546 1 0.10000 37784 18995 1 0.50000 39246 19147 546 19693 19553 VA 0 GAMING ACTIVITY FALLS UNDER THRESHOLD FOR REQUIRED LICENSING IN COMMONWEALTH OF VIRGINIA 0 0 0 1.00000 PHYLLIS PALMIERO 103 N MOORELAND ROAD RICHMOND VA 23229 0 0 1 NEED-BASED FINANCIAL ASSISTANCE 273 4175120 FMV TUITION REDUCTION, FEES, BOOKS, AFTER SCHOOL REDUCTION MERIT-BASED SCHOLARSHIPS 13 141900 FMV TUITION REDUCTION PART I, LINE 2: THE SCHOOL PROVIDES NEED-BASED FINANCIAL ASSISTANCE TO FAMILIES WHO QUALIFY. FAMILIES REQUESTING FINANCIAL ASSISTANCE SUBMIT A PARENTS' FINANCIAL STATEMENT (PFS) ANNUALLY TO THE SCHOOL AND STUDENT SERVICES (SSS). THIS FORM REQUESTS INFORMATION SUCH AS INCOME, EXPENSES, ASSETS, FAMILY SIZE, AND NUMBER OF CHILDREN IN TUITION CHARGING SCHOOLS. IN ADDITION, FAMILIES SUBMIT SUPPORTING DOCUMENTS SUCH AS TAX RETURNS, W-2S AND 1099S. THE SSS EVALUATES THE FAMILY'S FINANCIAL NEED AND DETERMINES AN EXPECTED FAMILY CONTRIBUTION. THE FINANCIAL ASSISTANCE COMMITTEE REVIEWS THE PFS AND SUPPORTING DOCUMENTATION AND USES THE SSS EVALUATION AS A GUIDE IN DETERMINING A FAMILY'S NEED. THE FINANCIAL AID COMMITTEE MAKES THE FINAL AWARD DECISIONS AND APPLIES THE ASSISTANCE TOWARD THE TUITION FOR THAT SCHOOL YEAR. THE SCHOOL OFFERS SCHOLARSHIPS TO STUDENTS OF STRONG CHARACTER, WHO HAVE A DEMONSTRATED INTEREST AND OUTSTANDING ACHIEVEMENT IN THE AREAS OF ACADEMICS, ATHLETICS, FINE ARTS AND / OR LOCAL AND GLOBAL ENGAGEMENT. THE SCHOLARSHIPS ARE A FOUR-YEAR MERIT-BASED SCHOLARSHIP OF UP TO FIFTY PERCENT OF TUITION. STUDENTS MUST REMAIN IN GOOD ACADEMIC STANDING FOR THE SCHOLARSHIP TO RENEW IN YEARS TWO THROUGH FOUR. NINTH GRADE APPLICANTS ARE ELIGIBLE FOR THESE SCHOLARSHIPS. THE ADMISSION OFFICE AND UPPER SCHOOL ADMINISTRATION REVIEW ELIGIBLE APPLICANTS AND MAKE SELECTIONS BASED ON THE STATED CRITERIA. THESE SCHOLARSHIPS ARE APPLIED TO THE TUITION FOR THAT SCHOOL YEAR. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 PENNY EVINS PRESIDENT/HEAD OF SCHOOL 501344 0 0 0 118438 0 69950 0 61195 0 750927 0 0 0 PHYLLIS PALMIERO TREASURER/CFO & COO 260437 0 0 0 3129 0 27186 0 47498 0 338250 0 0 0 KRISTEN O WILLIAMS CHIEF DEVELOPMENT OFFICER 153746 0 0 0 2293 0 11182 0 52199 0 219420 0 0 0 PATRICK E LOACH HEAD OF UPPER SCHOOL 150014 0 0 0 2317 0 16534 0 46576 0 215441 0 0 0 TUNG TRINH HEAD OF MIDDLE SCHOOL 141038 0 0 0 1405 0 10346 0 49873 0 202662 0 0 0 SCOTT SMITH DIRECTOR OF ADMISSION AND ENROLLMENT 141251 0 0 0 3446 0 10647 0 23598 0 178942 0 0 0 KAREN S DOXEY ATHLETIC DIRECTOR 136112 0 0 0 2194 0 14529 0 15357 0 168192 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL RECEIVES CERTAIN ADDITIONAL BENEFITS THAT ARE TYPICAL COMPONENTS OF AN EXECUTIVE LEVEL COMPENSATION PACKAGE AMONG INDEPENDENT SCHOOLS. THESE BENEFITS PRIMARILY INCLUDE A HOUSING ALLOWANCE AND AN AMOUNT THAT REPRESENTS ADDITIONAL TUITION REMISSION AND INSURANCE WHICH ARE GROSSED UP TO PROVIDE FOR THE TAX LIABILITY ASSOCIATED WITH THEM. NATIONALLY AND LOCALLY, MANY HEADS OF SCHOOLS ARE PROVIDED A HOME ON CAMPUS, WHEN ONE EXISTS. WHEN ONE DOES NOT EXIST ON CAMPUS, AS IS THE CASE AT COLLEGIATE SCHOOL, IT IS CUSTOMARY TO PROVIDE A HOUSING ALLOWANCE TO THE HEAD OF SCHOOL. THE HOUSING ALLOWANCE IS A TAXABLE BENEFIT AND INCLUDED IN HIS/HER OTHER REPORTABLE COMPENSATION. COMPANION TRAVEL WAS ALSO PROVIDED TO THE HEAD OF SCHOOL THIS YEAR AND THE AMOUNT PAID WAS TREATED AS A TAXABLE BENEFIT. PART I, LINE 3 THE COMPENSATION COMMITTEE REVIEWS THE INDEX (INDEPENDENT DATA EXCHANGE) REPORT ON THE SALARIES AND TOTAL COMPENSATION FOR THE HEAD OF SCHOOL. THE INDEX BENCHMARKING GROUP CONSISTS OF APPROXIMATELY 50 JK-12 CO-EDUCATIONAL DAY SCHOOLS ACROSS THE NATION WITH SIMILAR MISSIONS AND SIZE TO COLLEGIATE SCHOOL. THE COMMITTEE ALSO REVIEWS ANY OTHER COMPARISONS THAT MAY BE AVAILABLE AT THAT TIME. A ECONOMIC DEVELOPMENT AUTHORITY OF HENRICO COUNTY VIRGINIA 541197472 42605PDC6 2012-04-19 24183447 CAPITAL IMPROVEMENT 1 0 0 B ECONOMIC DEVELOPMENT AUTHORITY OF HENRICO COUNTY VIRGINIA 541197472 000000000 2021-03-29 11655000 REFINANCE BOND SERIES 2010 AND 2017B. 0 0 0 C ECONOMIC DEVELOPMENT AUTHORITY OF HENRICO COUNTY VIRGINIA 541197472 000000000 2022-04-15 12770000 REFINANCE TAXABLE BOND DATED 3/27/2014 0 0 0 A 20190000 24228100 433186 23794914 2013 0 0 1 1 B 630000 11655000 92650 11562350 2018 1 0 1 1 C 12770000 12770000 2018 0 1 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 A 1 B 1 C 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: ECONOMIC DEVELOPMENT AUTHORITY OF HENRICO COUNTY, VIRGINIA DATE THE REBATE COMPUTATION WAS PERFORMED: 03/27/2014 SCHEDULE K, PART II, LINE 3, COL (A): THE TOTAL PROCEEDS OF ISSUE DOES NOT EQUAL THE ISSUE PRICE IN PART I DUE TO INVESTMENT EARNINGS ON BOND PROCEEDS WHILE AWAITING EXPENDITURE. X 169769 FAIR MARKET VALUE X 60 166503 MEAN VALUE 0 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B TO PROTECT DONOR PRIVACY, THE SCHOOL DOES NOT PROVIDE SCHEDULE B TO THE BOARD OF TRUSTEES. HOWEVER, A FULL PUBLIC DISCLOSURE COPY OF THE FORM 990 IS PROVIDED TO THE BOARD FOR ITS REVIEW BEFORE IT IS FILED. THE FORM 990 IS REVIEWED BY THE SCHOOL'S HEAD OF SCHOOL AND CHIEF FINANCIAL OFFICER/CHIEF OPERATING OFFICER AS WELL AS THE SCHOOL'S INDEPENDENT ACCOUNTING FIRM CHERRY BEKAERT. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR, ALL OFFICERS, TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST STATEMENT, NOTING ANY RELATIONSHIPS AND/OR CONFLICTS THEY HAVE WITH COLLEGIATE SCHOOL. BY SIGNING, THEY ACKNOWLEDGE THAT THEY HAVE RECEIVED A COPY OF THE SCHOOL'S CODE OF BUSINESS ETHICS FOR TRUSTEES AND THE SCHOOL'S POLICY STATEMENT OF CONFLICTS OF INTEREST. THE STATEMENTS ARE KEPT ON FILE WITH BOTH THE BOARD SECRETARY AND THE BUSINESS OFFICE AND ARE REFERRED TO THROUGHOUT THE YEAR AS NEEDED. THE FOLLOWING IS AN EXCERPT FROM COLLEGIATE SCHOOL'S BOARD OF TRUSTEES CONFLICT OF INTEREST POLICY: "AN OFFICER, TRUSTEE OR STAFF MEMBER WHO HAS A CONFLICT OF INTEREST WILL NEITHER PARTICIPATE IN NOR EXERT HIS OR HER PERSONAL INFLUENCE WITH RESPECT TO THE MATTER OR BE PERMITTED TO HEAR THE BOARD'S OR COMMITTEE'S DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. IN THE EVENT THAT AN OFFICER, TRUSTEE, OR STAFF MEMBER DOES HAVE A CONFLICT OF INTEREST WITH RESPECT TO A MATTER, THEY WILL BE INELIGIBLE TO VOTE AND THIS WILL BE REFLECTED IN THE MINUTES." FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, WHICH IS COMPRISED OF THE CURRENT AND PAST CHAIRS AND THE VICE-CHAIR, IS CHARGED WITH REVIEWING THE PERFORMANCE AND ESTABLISHING COMPENSATION LEVELS FOR THE HEAD OF SCHOOL. THE PROCESS BEGINS WITH A SET OF ANNUAL GOALS DEVELOPED BY THE HEAD OF SCHOOL AND THE FULL BOARD. TO BEGIN THE PERFORMANCE REVIEW DISCUSSION, THE COMMITTEE SOLICITS FEEDBACK FROM THE BOARD ON HOW WELL THOSE GOALS HAVE BEEN MET. IN ADDITION, THE COMMITTEE REVIEWS THE SELF-APPRAISAL PREPARED BY THE HEAD OF SCHOOL. AS PART OF ITS COMPENSATION CONSIDERATIONS, THE COMMITTEE REVIEWS THE INDEX (INDEPENDENT DATA EXCHANGE) REPORT ON THE SALARIES AND TOTAL COMPENSATION FOR HEADS OF SCHOOLS. THE INDEX BENCHMARKING GROUP CONSISTS OF APPROXIMATELY 50 JK-12 CO-EDUCATIONAL DAY SCHOOLS ACROSS THE NATION WITH SIMILAR MISSIONS TO COLLEGIATE SCHOOL. THE COMMITTEE ALSO REVIEWS ANY OTHER COMPARISONS THAT MAY BE AVAILABLE AT THAT TIME. THE COMMITTEE'S PROCESS AND DECISIONS ARE COMMUNICATED TO THE CHIEF FINANCIAL OFFICER/CHIEF OPERATING OFFICER AND ARE DOCUMENTED IN THE FORM OF A MEMORANDUM TO THE FILE. WITH RESPECT TO THE COMPENSATION OF OTHER KEY EMPLOYEES, THE SCHOOL USES NATIONAL BENCHMARKING DATA FROM APPROXIMATELY 50 LIKE INDEPENDENT SCHOOLS, INCLUDING COMPENSATION SURVEYS. THE SALARIES ARE DETERMINED BASED ON THIS DATA, IN ADDITION TO JOB DUTIES AND RESPONSIBILITIES, EXPERTISE, AND THE MARKET FOR THOSE SKILLS AND EXPERTISE ARE COMPENSATION FACTORS AS WELL. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE GENERALLY NOT AVAILABLE TO THE PUBLIC, ALTHOUGH ITS ARTICLES OF INCORPORATION ARE PUBLICLY AVAILABLE THROUGH THE VIRGINIA STATE CORPORATION COMMISSION'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -1,607. CHANGE IN BENEFIT PLAN OBLIGATION 313,700.