2023-06-15T06:53:47-05:00 2022-07-31 PricewaterhouseCoopers LLP 2001 MARKET ST SUITE 1800 PHILADELPHIA PA 19103 990 2021-08-01 231353340 MILTON HERSHEY SCHOOL AND SCHOOL TRUST % MATTHEW JACOLIK HERSHEY TRU MILT 7175201100 PO BOX 445 HERSHEY PA 17033 DEREK HOLJES VP, FINANCE 7175201100 2023-06-14 true DEREK HOLJES 999009999 JOANNE KRUEGER P01235586 2673303000 3 2021 2023-04-26 12:10:37Z PETER GURT PO BOX 830 HERSHEY PA 17033 3310197797 false X WWW.MHS-PA.ORG X SEE SCH O 1909 PA IN KEEPING WITH MILTON AND CATHERINE HERSHEY'S DEED OF TRUST, MILTON HERSHEY SCHOOL NURTURES AND EDUCATES CHILDREN IN SOCIAL AND FINANCIAL NEED. SEE SCHEDULE O. 11 0 2044 239 5118418 0 58626 191306 484528 621843 1013401004 1454386612 3041544 2521610 1016985702 1457721371 5100278 6788703 0 0 156963060 156041070 0 0 0 141705039 146342389 303768377 309172162 713217325 1148549209 21433370695 23523788782 233000192 271236000 21200370503 23252552782 X SEE SCHEDULE O FOR FURTHER DETAILS. false false 241880917 6788703 621843 SEE SCHEDULE O FOR FURTHER DETAILS. 241880917 true true false false false false true false true true true false false false true true false true false true false false false false false false false true true false false false false false false false false false false false false true true true true false false true 191 0 true 2044 true true true false false false false false false false false false false false X 11 0 true false false false false true false true true false false true true true true true true true true false X MATTHEW JACOLIK HERSHEY TRU 7175201100 PO BOX 445 HERSHEY PA 17033 X PETER G GURT PRESIDENT 55.0 10.0 X 628159 0 116930 STEVEN SPARKS ESQ Secretary 44.0 6.0 X 0 604170 93602 ELLIOTT H ROBINSON VP ADMINISTRATION 52.0 4.0 X 327978 0 106515 JEFFERY JOHNSON VP HUMAN RESOURCES 52.0 3.0 X 315634 0 95642 FREDA F MARTINE VP OF EDU AND STUDENT LIFE 55.0 10.0 X 301358 0 65707 LISA RASHID VP - COMMUNICATIONS 48.0 4.0 X 272444 0 86656 ANDREW CLARK ESQ VP Legal/General Counsel 55.0 10.0 X 271954 0 87122 ANNETTE K COLE GILL HEAD-MIDDLE DIVISION 54.0 0.0 X 228054 0 88832 BETH J SHAW EXEC DIRECTOR- STUDENT SUPPORT 57.0 0.0 X 231904 0 69698 M DIANE KOKEN BOARD OF MANAGERS 13.0 4.0 X 0 105000 160000 JAMES BROWN BOARD OF MANAGERS 5.0 3.0 X 0 105000 160000 JAMES KATZMAN BOARD OF MANAGERS 4.0 2.0 X 0 0 265000 TANYA BAYNHAM VP GRAD PROG FOR SUCC 50.0 0.0 X 201904 0 57995 WILLIAM H WEBER III HEAD OF SCHOOL DIVISION 53.0 0.0 X 200430 0 58141 TIMOTHY C FAKE SR DIRECTOR IT 50.0 3.0 X 196369 0 43368 JOHN J OSMOLINSKI SR DIR CONSTRUCTION/FAC 51.0 6.0 X 180774 0 56449 DENISE L ALSTON DDS DIR DENTAL SERVICES 60.0 0.0 X 190131 0 39413 ERIN OSEVALA ASSOCIATE GENERAL COUNSEL 42.0 8.0 X 178414 0 46817 LAWRENCE COFFIN Dentist 50.0 0.0 X 172617 0 44408 JEFFREY C PERALES HEAD MIDDLE DIVISION 53.0 0.0 X 155865 0 57016 SEAN CONCANNON ASSOCIATE GENERAL COUNSEL 35.0 15.0 X 181865 0 27451 MATTHEW JACOLIK INTERIM TREASURER UNTIL 7/19 43.0 1.0 X 0 154251 47506 DAVID C MILLER JR SR DIR RISK MANAGEMENT 50.0 2.5 X 138973 0 54546 Wendy Starner FORMER TREASURER 0.0 0.0 X 0 181967 0 CAROL DANZ ASSISTANT SECRETARY 42.0 0.0 X 0 104542 35096 JAN L BERGEN BOARD OF MANAGERS 6.0 0.0 X 0 128711 0 Melissa L Fullmore Board of Managers 4.0 0.0 X 0 128711 0 Michela English Board of Managers 6.0 0.0 X 0 128711 0 Maria Kraus Board of Managers 6.0 1.0 X 0 128711 0 AMY MARSH BOARD OF MANAGERS 9.0 0.0 X 0 128711 0 ROBERT CONNOR HEIST BOARD OF MANAGERS 3.0 0.0 X 0 118711 0 DAVID SALTZMAN Board of Managers 3.0 0.0 X 0 118711 0 DAN KATZIR BOARD OF MANAGERS 3.0 0.0 X 0 118711 0 CORDEL ROBBIN-COKER BOARD OF MANAGERS, TREASURER 5.0 0.0 X X 0 118711 0 HERSHEY TRUST COMPANY TRUSTEE 0.0 0.0 X 1000 0 0 4374827 1254930 1963910 210 true true false KINSLEY CONSTRUCTION INC PO BOX 2886 YORK PA 174052886 CONSTRUCTION 4589299 HERSHEY TRUST COMPANY PO BOX 445 HERSHEY PA 17033 INVEST & SHARED SRVS 4483032 SODEXO INC AFFILIATES PO BOX 360170 PITTSBURGH PA 152516170 CONSTRUCTION 6083110 ELLIOTT GREENLEAF PC 925 HARVEST DRIVE SUITE 300 BLUE BELL PA 194221956 LEGAL 2341292 NRG BUILDING SERVICES INC 48 South Harrisburg St 2nd Floor HARRISBURG PA 17113 CONSTRUCTION 2699837 166 191306 191306 AG MILK, LIVESTOCK & CROP SALES 900099 541901 541901 CONCESSION STAND SALES 900099 40772 40772 UTILITY REBATES 900099 34355 34355 MEMORABILIA SALES TO PUBLIC 900099 1087 1087 FOOD REBATES 900099 1013 1013 2715 2715 621843 463492401 5035125 458457276 0 0 5426808 2905198 2521610 0 2521610 83293 2438317 2831452208 9013231 1842702346 6868882 988749862 2144349 990894211 990894211 0 0 0 0 0 0 0 0 0 0 1457721371 621843 5118418 1451789804 X 0 0 6788703 6788703 0 0 4157130 2341141 1815989 0 0 100201008 93556972 6644036 0 12548231 12079352 468879 0 30169764 27663677 2506087 0 8964937 8247742 717195 0 0 3942295 2829907 1112388 0 246248 226548 19700 0 0 0 43077201 43077201 0 7085182 7085182 9181872 3776647 5405225 0 2088824 1812099 276725 0 2823918 2676798 147120 0 0 6913723 6299081 614642 0 636841 593160 43681 0 0 150390 136594 13796 0 0 0 42717643 38728333 3989310 0 -35561 2362041 -2397602 0 CONTRACTED SERVICES 8487100 6342624 2144476 FOOD, CLOTHING & HOUSEHOLD 7271447 6989678 281769 EQUIP RENTAL & MAINTENANCE 5815272 5329203 486069 TRUST EXPENSES 677717 677717 5262277 6015435 -753158 309172162 241880917 67291245 0 1159104 3832001 64160721 275528176 0 0 62706632 108099777 0 0 0 0 0 0 2424510 3018534 3436596 3594870 1507435180 722640996 765351994 784794184 2831537636 2016362453 17702593502 20328558787 0 0 0 0 0 0 21433370695 23523788782 233000192 271236000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 233000192 271236000 X 1891437031 1876161916 19308933472 21376390866 21200370503 23252552782 21433370695 23523788782 X 1148549209 902265543 1367527 X X true true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X false 19308934061 2067456805 21376390866 15560697333 3748236728 19308934061 15912197460 -351500127 15560697333 12387613285 3524584175 15912197460 12668675449 -281062164 12387613285 1.00000 false true true 66857066 66857066 112879440 1199019221 641432817 670465844 128679453 81208179 47471274 784794184 SEE PART XIII 20328558787 F 20328558787 0 0 X 2362246749 902265543 2259835 904525378 1457721371 1457721371 330914296 -645363 -645363 331559659 -22387497 -22387497 309172162 SCHEDULE D, PART III, LINE 1A & 4 MAINTAINING COLLECTIONS OF ART, HISTORICAL TREASURES, OR SIMILAR ASSETS THE ORGANIZATION ELECTED, AS PERMITTED UNDER ASC 958-360-25-1 and 958-605-25-19 (formerly SFAS 116), NOT TO REPORT IN ITS REVENUE STATEMENT AND BALANCE SHEET WORKS OF ART, HISTORICAL TREASURES, OR OTHER SIMILAR ASSETS HELD FOR PUBLIC EXHIBITION, EDUCATION OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE. THE DEPARTMENT OF SCHOOL HISTORY AND THE MHS HERITAGE CENTER AT KINDERHAUS PROVIDE FOR THE CARE AND MANAGEMENT OF THE HISTORICAL ASSETS OF THE MILTON HERSHEY SCHOOL COMMUNITY. THE HISTORICAL ASSETS(COLLECTION) CONSIST OF ARCHIVAL RECORDS AND DOCUMENTS, THREE DIMENSIONAL OBJECTS, INTERPRETIVE EXHIBITS, AND HISTORICAL CAMPUS BUILDINGS WHICH HELP TO DOCUMENT THE LIVES AND VALUES OF MILTON AND CATHERINE HERSHEY AS FOUNDERS OF OUR SCHOOL, THE HISTORY AND TRADITIONS OF THE SCHOOL AS AN INSTITUTION, AND THE STORIES OF THE STUDENTS, STAFF, AND ALUMNI WHO MAKE UP THE SCHOOL COMMUNITY. EXCLUDED FROM THIS MANDATE ARE LEGAL BOARD RECORDS, STUDENT RECORDS, AND ALUMNI RECORDS. SCHEDULE D, PART V, LINE 4 TRUST FUNDS AS MANDATED BY MILTON HERSHEY'S DEED OF TRUST, THE TRUST FUNDS ARE USED TO OPERATE THE MILTON HERSHEY SCHOOL AND MANAGE THE SCHOOL TRUST IN PERPETUITY. THE SCHOOL HAS MADE A POSITIVE DIFFERENCE IN THE LIVES OF ITS STUDENTS FOR OVER 110 YEARS. IN ORDER TO CONTINUE TO CHANGE LIVES FOR THE NEXT 110 YEARS AND BEYOND, THE TRUST FUNDS AND OTHER ASSETS OF THE MILTON HERSHEY SCHOOL TRUST (THE "ASSETS") ARE INVESTED FOR THE LONG TERM. DOING SO HELPS TO ENSURE FUNDS ARE AVAILABLE TO MEET CURRENT AND FUTURE OBLIGATIONS OF MILTON HERSHEY SCHOOL. THE BOARD AND THE TRUSTEE, WITH ASSISTANCE FROM THIRD-PARTY INVESTMENT CONSULTANTS, CONTINUALLY REVIEW THE PERFORMANCE OF THE ASSETS AND INVESTMENT DECISIONS. STRICT INVESTMENT GUIDELINES GOVERN A DISCIPLINED PROCESS FOR ASSET ALLOCATION, MANAGER SELECTION AND REVIEW OF MANAGEMENT FEES. SCHEDULE D, PART X, LINE 2 FIN 48 FOOTNOTE TAX POSITIONS ARE RECOGNIZED OR DERECOGNIZED BASED ON A "MORE-LIKELY THAN-NOT" THRESHOLD FOR POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST'S ACCOUNTING POLICY FOR EVALUATING UNCERTAIN TAX POSITIONS IS THAT RECOGNIZED INCOME TAX POSITIONS ARE MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED. THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST DOES NOT BELIEVE THERE ARE ANY UNRECOGNIZED TAX BENEFITS OR LIABILITIES THAT SHOULD BE RECORDED. SCHEDULE D, PART XI, LINE 2D RECONCILIATION OF REVENUE PER AUDITED FIN STMTS WITH REVENUE PER RETURN PROGRAM SERVICE REVENUE (RECLASS) (621,843) RENTAL INCOME (23,520) RENTAL EXPENSES 2,905,198 ____________ 2,259,835 SCHEDULE D, PART XII, LINE 2D RECONCILIATION OF EXPENSES PER AUDITED FIN STMTS WITH EXPENSES PER RETURN RENTAL INCOME (23,520) PROGRAM SERVICE REVENUE (RECLASS) (621,843) ____________ (645,363) SCHEDULE D, PART XII, LINE 4B RECONCILIATION OF EXPENSES PER AUDITED FIN STMTS WITH EXPENSES PER RETURN UNRECOGNIZED PENSION & POST RETIREMENT GAIN 22,387,497 SUPPLEMENTAL INFORMATION FORM 990, PARTS VIII AND IX: DETAIL OF REVENUE AND EXPENSES PART VIII, STATEMENT OF REVENUE MILTON HERSHEY MILTON HERSHEY TOTAL LINE SCHOOL TRUST SCHOOL 1F CONTRIBUTIONS 191,306 - 191,306 2 PROGRAM SERVICE REV - 621,843 621,843 3 INVESTMENT INCOME 463,492,401 - 463,492,401 6 NET RENTAL INCOME 2,498,090 23,520 2,521,610 7(I) GAIN ON SALE-SECURITIES 988,749,862 - 988,749,862 7(II) GAIN ON SALE-OTHER 1,913,464 230,885 2,144,349 11A OTHER INCOME - - - ______________ ________ _____________ 12 TOTAL REVENUE 1,456,845,123 876,248 1,457,721,371 PART IX, STATEMENT OF FUNCTIONAL EXPENSES MILTON HERSHEY MILTON HERSHEY TOTAL LINE SCHOOL TRUST SCHOOL 2 GRANTS TO INDIVIDUALS - 6,788,703 6,788,703 5 COMPENSATION OF OFFICERS 1,000 4,156,131 4,157,131 7 OTHER SALARIES & WAGES - 100,201,008 100,201,008 8 PENSION PLAN CONTRIBUTIONS - 12,548,231 12,548,231 9 OTHER EMPLOYEE BENEFITS - 30,169,764 30,169,764 10 PAYROLL TAXES - 8,964,937 8,964,937 11B LEGAL FEES - 3,942,294 3,942,294 11C ACCOUNTING FEES - 246,248 246,248 11F INVEST MGMT FEES 43,077,201 - 43,077,201 11G OTHER FEES FOR SERVICES - 7,085,182 7,085,182 12 ADVERTISING - 9,181,872 9,181,872 13 OFFICE EXPENSES - 2,088,824 2,088,824 14 INFORMATION TECHNOLOGY - 2,823,919 2,823,919 16 OCCUPANCY - 6,913,723 6,913,723 17 TRAVEL - 636,842 636,842 19 CONFERENCES - 150,390 150,390 22 DEPRECIATION 159,035 42,558,607 42,717,642 23 INSURANCE - (35,561) (35,561) 24A CONTRACTED SERV/CONSULTING - 8,487,100 8,487,100 24B FOOD/CLOTHING/HOUSEHOLD - 7,271,447 7,271,447 24C EQUIP RENTAL & MAINTENANCE - 5,815,272 5,815,272 24D TRUST EXPENSES (*) 360,856 316,861 677,717 24E ALL OTHER EXPENSES - 5,262,276 5,262,278 ___________ ___________ ____________ 25 TOTAL FUNCTIONAL EXPENSES 43,598,092 265,574,070 309,172,162 (*) TRUST EXPENSES INCLUDE LEGAL, CONSULTING AND OTHER EXPENSES RELATED TO MANAGEMENT OF THE TRUST. SUPPLEMENTAL INFORMATION FORM 990, PART X, LINE 27: UNRESTRICTED NET ASSETS (INCOME FUND) MILTON HERSHEY MILTON HERSHEY TOTAL LINE SCHOOL TRUST SCHOOL 1 CASH 1,522,591 2,390,781 3,913,372 2 SAVINGS & TEMP INVEST 80,375,992 - 80,375,992 4 ACCOUNTS RECEIVABLE 49,445,592 1,737,441 51,183,033 8 INVENTORIES FOR SALE/USE - 3,018,534 3,018,534 9 PREPAID EXPENSES 392,400 3,202,469 3,594,870 10A PROPERTY EQPMT(COST) 1,270,633,175 123,765,681 1,394,398,856 10B LESS: ACCUMULATED DEP. (641,432,817) (81,208,179) (722,640,996) 11 INVEST: PUBLICLY TRADED 324,006,442 - 324,006,442 12 INVEST: OTHER 938,167,250 - 938,167,250 17 LIABILITIES (29,624,619)(170,230,817) (199,855,437) _____________ ____________ _____________ NET UNRESTRICTED ASSETS 1,993,486,006 (117,324,090) 1,876,161,916 OF THE $1,876,161,916 IN NET UNRESTRICTED ASSETS, $1,311,205,287 IS AVAILABLE IN MARKETABLE INVESTMENTS. THE REMAINDER OF THE NET UNRESTRICTED ASSETS IS IN NON-LIQUID REAL ESTATE, INCLUDING CAMPUS BUILDINGS, AND INVESTMENTS. FORM 990, PART X BALANCE SHEET DETAIL PART X, LINE 11 PUBLICLY TRADED SECURITIES CORPORATE BONDS 608,733,784 FMV BOND FUNDS 94,823,277 FMV COMMON STOCKS-OTHER 1,312,805,392 FMV ______________ TOTAL PART X, LINE 11 2,016,362,453 PART X, LINE 12/SCHEDULE D, PART VII CLOSELY HELD EQUITY INTERESTS HERSHEY ENTERTAINMENT & RESORTS 623,600,000 FMV HERSHEY TRUST COMPANY 38,122,595 FMV THE HERSHEY CO - CLASS B SHARES 13,247,214,256 FMV _____________ SUB-TOTAL CLOSELY-HELD INTERESTS 13,908,936,851 PART X, LINE 12 (CONTINUED) OTHER STOCK FUNDS - OTHER 2,924,979,626 OTHER BOND FUNDS 1,776,534,666 ALTERNATIVE ASSETS-NON MARKETABLE 1,718,107,644 _______________ SUB-TOTAL OTHER 6,419,621,936 _______________ TOTAL PART X, LINE 12 20,328,558,787 true true true true true true true false false false false false false false false false false true SCHEDULE E, LINE 3 THE MILTON HERSHEY SCHOOL ANNUALLY PUBLISHES ITS NON-DISCRIMINATION POLICY ON THE ORGANIZATION'S WEBSITE WHICH READS AS FOLLOWS: QUALIFIED STUDENTS ARE ELIGIBLE FOR ADMISSION REGARDLESS OF RACE, COLOR, NATIONAL OR ETHNIC ORIGIN, ANCESTRY, SEX, RELIGIOUS CREED OR DISABILITY. MILTON HERSHEY SCHOOL DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL OR ETHNIC ORIGIN, ANCESTRY, SEX, RELIGIOUS CREED OR DISABILITY IN THE ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSIONS POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, AND ATHLETIC AND OTHER SCHOOL-ADMINISTERED PROGRAMS. Europe (Including Iceland and Greenland) 0 0 Investments 74944312 North America 0 0 Investments 55337348 Sub-Saharan Africa 0 0 Investments 101129887 Middle East and North Africa 0 0 Investments 340557 Russia and the Newly Independent States 0 0 Investments 318 South America 0 0 Investments 2326488 South Asia 0 0 Investments 1261748 Central America and the Caribbean 0 0 Investments 833912071 East Asia and the Pacific 0 0 Investments 27984629 0 0 0 0 1097237358 1097237358 true false true true true false true Continuing Education Scholarships 689 6788703 SCHEDULE I, PART I, QUESTION 2 MONITORING THE USE OF GRANT FUNDS THE CONTINUING EDUCATION SCHOLARSHIP (CES) HAS BEEN ESTABLISHED TO PROVIDE POST-SECONDARY SCHOLARSHIP ASSISTANCE TO ELIGIBLE MILTON HERSHEY SCHOOL GRADUATES PURSUING FULL-TIME STUDY IN AN ACCREDITED UNDERGRADUATE PROGRAM WITH THE INTENTION TO EARN A DIPLOMA, CERTIFICATE, OR DEGREE. THE CES EASES - AND OFTEN ELIMINATES - THE BURDEN OF STUDENTS' POST-SECONDARY COSTS BY HELPING TO PAY FOR STANDARD FULL-TIME TUITION, FEES, ROOM AND BOARD, AND POSSIBLY HEALTH INSURANCE NOT COVERED BY AID FROM POSTSECONDARY SCHOOLS. THE CES COVERS COSTS FOR RECENT GRADUATES UP TO $95,000. THESE FUNDS ARE AVAILABLE TO ALUMNI WHO PURSUE THEIR POSTGRADUATE STUDIES WITHIN FIVE YEARS OF GRADUATION. CES STAFF AND RESOURCES ARE DEVOTED TO FOLLOWING UP WITH ALUMNI TO ENSURE THEY HAVE THE SUPPORT THEY NEED AS THEY NAVIGATE THE POSTGRADUATE YEARS. 80% OF GRADUATES WILL IMMEDIATELY CONTINUE THEIR STUDIES AFTER LEAVING MHS. THE MILTON HERSHEY SCHOOL, THROUGH CES OFFICE STAFF, UTILIZES A COMBINATION OF THE FOLLOWING DOCUMENTS TO VALIDATE SCHOLARSHIP ELIGIBILITY AND COLLEGE COST & FINANCIAL AID DATA: COLLEGE ACADEMIC TRANSCRIPTS/GRADES, A STANDARDIZED COST AND AID ASSESSMENT FORM THAT IS COMPLETED BY THE INSTITUTION'S FINANCIAL AID OFFICE (RELEASE FORM), COLLEGE BILLS, SIGNED COPIES OF LEASES/RENTAL AGREEMENTS, RECEIPTS, DEGREE COMPLETION EVALUATIONS, AND OTHER DOCUMENTATION AS NEEDED. SCHEDULE I, PART III GRANTS & ASSISTANCE TO INDIVIDUALS IN THE U.S. THE MILTON HERSHEY SCHOOL OFFERS A CONTINUING EDUCATION SCHOLARSHIP PROGRAM WHERE SCHOLARSHIP CREDITS ARE ACCRUED EACH YEAR OF HIGH SCHOOL. THE MAXIMUM AWARD FOR THE GRADUATING CLASS OF 2022 WILL BE $95,000. THE EARNING OF THE SCHOLARSHIP AWARD IS DEPENDENT ON THE STUDENTS' ANNUAL ACADEMIC PERFORMANCE AND CERTAIN OTHER CONDITIONS. UPON INCEPTION OF THIS PROGRAM, CURRENT HIGH SCHOOL STUDENTS WERE AWARDED THE SCHOLARSHIP CREDIT FOR GRADES PREVIOUSLY COMPLETED. STUDENTS WHO HAD GRADUATED IN OR PRIOR TO THE SPRING OF 2004 WERE NOT AFFECTED BY THE NEW POLICY. SIGNIFICANT ASSUMPTIONS IN DETERMINING THE LIABILITY FOR THIS PROGRAM INCLUDE PARTICIPATION AND DISCOUNT RATES. THE EXPENSE RECOGNIZED FOR THE CONTINUING EDUCATION PROGRAMS DESCRIBED ABOVE WAS $6,788,703 AND $5,100,278 DURING THE YEARS ENDED JULY 31, 2022 AND 2021 RESPECTIVELY, AND IS INCLUDED IN CONTINUING EDUCATION PROGRAMS ON THE STATEMENT OF ACTIVITIES OF THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST FINANCIAL STATEMENTS. THE AMOUNT REPORTED COVERS THE 689 STUDENTS CURRENTLY RECEIVING CONTINUING EDUCATION SCHOLARSHIPS AS WELL AS THE 907 STUDENTS EARNING CREDITS TOWARD THEIR FUTURE SCHOLARSHIPS. SCHEDULE I, PART III, COLUMN (C): THE AMOUNT REPORTED IN COLUMN C "AMOUNT OF CASH GRANT" CONSISTS OF $8,081,302 OF CASH GRANTS PAID DURING THE YEAR AND ($1,292,599) WHICH REPRESENTS AN DECREASE IN THE TUITION ACCRUAL FOR GRANTS TO BE PAID IN FUTURE YEARS. THE TOTAL OF THESE AMOUNTS IS $6,788,703. X X X X true true X X X X X true true false false false false false false false ELLIOTT H ROBINSON VP ADMINISTRATION 294097 0 20300 0 13581 0 63290 0 43225 0 434493 0 0 0 PETER G GURT PRESIDENT 442196 0 174550 0 11413 0 63290 0 53640 0 745089 0 0 0 LISA RASHID VP - COMMUNICATIONS 250779 0 20300 0 1365 0 50003 0 36653 0 359100 0 0 0 ANNETTE K COLE GILL HEAD-MIDDLE DIVISION 224832 0 2300 0 922 0 54359 0 34473 0 316886 0 0 0 BETH J SHAW EXEC DIRECTOR- STUDENT SUPPORT 226302 0 2300 0 3302 0 35034 0 34664 0 301602 0 0 0 TIMOTHY C FAKE SR DIRECTOR IT 193313 0 2300 0 756 0 30007 0 13361 0 239737 0 0 0 ANDREW CLARK ESQ VP Legal/General Counsel 249648 0 20300 0 2006 0 51595 0 35527 0 359076 0 0 0 JOHN J OSMOLINSKI SR DIR CONSTRUCTION/FAC 175302 0 2300 0 3172 0 27242 0 29207 0 237223 0 0 0 FREDA F MARTINE VP OF EDU AND STUDENT LIFE 266919 0 30300 0 4139 0 26367 0 39340 0 367065 0 0 0 DAVID C MILLER JR SR DIR RISK MANAGEMENT 137479 0 300 0 1194 0 38026 0 16520 0 193519 0 0 0 WILLIAM H WEBER III HEAD OF SCHOOL DIVISION 194860 0 2300 0 3270 0 26167 0 31974 0 258571 0 0 0 M DIANE KOKEN BOARD OF MANAGERS 0 105000 0 0 0 0 0 0 0 0 0 105000 0 0 STEVEN SPARKS ESQ Secretary 0 591098 0 5000 0 8072 0 59726 0 33876 0 697772 0 0 TANYA BAYNHAM VP GRAD PROG FOR SUCC 180936 0 20300 0 668 0 24524 0 33471 0 259899 0 0 0 JAMES BROWN BOARD OF MANAGERS 0 105000 0 0 0 0 0 0 0 0 0 105000 0 0 JAMES KATZMAN BOARD OF MANAGERS 0 0 0 0 0 0 0 0 0 0 0 0 0 0 JEFFERY JOHNSON VP HUMAN RESOURCES 274561 0 30150 0 10923 0 57427 0 38215 0 411276 0 0 0 DENISE L ALSTON DDS DIR DENTAL SERVICES 187580 0 2300 0 251 0 21295 0 18118 0 229544 0 0 0 MATTHEW JACOLIK INTERIM TREASURER UNTIL 7/19 0 150371 0 3518 0 362 0 23205 0 24301 0 201757 0 0 Wendy Starner FORMER TREASURER 0 0 0 0 0 181967 0 0 0 0 0 181967 0 0 ERIN OSEVALA ASSOCIATE GENERAL COUNSEL 175881 0 2300 0 233 0 14720 0 32097 0 225231 0 0 0 SEAN CONCANNON ASSOCIATE GENERAL COUNSEL 179201 0 2300 0 364 0 14720 0 12731 0 209316 0 0 0 JEFFREY C PERALES HEAD MIDDLE DIVISION 153368 0 2300 0 197 0 21162 0 35854 0 212881 0 0 0 LAWRENCE COFFIN Dentist 170013 0 2000 0 604 0 12835 0 31573 0 217025 0 0 0 SCHEDULE J, PART I, LINE 1A TRAVEL FOR COMPANIONS SPOUSE/DEPENDENT TRAVEL: SPOUSES AND CHILDREN OF BOARD MEMBERS MAY BE INVITED TO ATTEND GRADUATION AND THE ANNUAL BOARD RETREAT AT THE DISCRETION OF THE SCHOOL OR TRUST COMPANY. IF A SPOUSE OR DEPENDENT ACCOMPANIES A BOARD MANAGER/DIRECTOR TO THE ANNUAL RETREAT, ALL CHARGES RELATED TO THE SPOUSE OR CHILD ARE THE RESPONSIBILITY OF THE MANAGER/DIRECTOR. IF A SPOUSE OR DEPENDENT ATTENDS GRADUATION WEEKEND EVENTS, THE COST OF MEALS, LODGING AND TRAVEL WILL BE PAID BY THE TRUST COMPANY AND REPORTED AS TAXABLE INCOME TO THE MANAGER/DIRECTOR. ORDINARILY, TRUST COMPANY STAFF WILL MAKE ALL TRAVEL AND LODGING ARRANGEMENTS. REIMBURSEMENT WILL ONLY BE MADE FOR THE COST OF COACH AIRFARE. ALL REQUESTS FOR EXPENSE REIMBURSEMENT MUST BE ACCOMPANIED BY ORIGINAL RECEIPTS AND MUST BE SUBMITTED WITHIN 60 DAYS OF THE DATE ON WHICH THE EXPENSES WERE INCURRED. ADEQUATE DESCRIPTIONS INCLUDING THE DATE, PURPOSE, AND INDIVIDUALS ENTERTAINED MUST ALSO BE INCLUDED. SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE THE PRESIDENT OF MILTON HERSHEY SCHOOL IS PROVIDED WITH A RESIDENCE ON CAMPUS FOR BOTH PUBLIC AND PERSONAL USE. THE PRESIDENT'S EMPLOYMENT CONTRACT INCLUDES PROVISIONS WHICH REQUIRE HOSTING BOTH INTERNAL AND EXTERNAL EVENTS ON BEHALF OF THE SCHOOL AT THE PROVIDED HOME. THE VALUE OF THESE BENEFITS (FAIR MARKET VALUE OF RENTAL) PLUS OPERATING COSTS ARE NONTAXABLE BENEFITS. SCHEDULE J, PART I, LINE 1A HEALTH CLUB DUES ALL EMPLOYEES OF THE MILTON HERSHEY SCHOOL ARE ELIGIBLE FOR REIMBURSEMENT OF HEALTH CLUB DUES NOT TO EXCEED $240 PER ANNUM FOR A SINGLE MEMBERSHIP AND $360 FOR A FAMILY MEMBERSHIP. SCHEDULE J, PART I, LINE 4A SEVERANCE AND CHANGE OF CONTROL PAYMENTS WENDY STARNER RECEIVED SEVERANCE PAYMENTS OF $181,967 FROM THE HERSHEY TRUST COMPANY (EIN: 23-0692150), A FOR-PROFIT RELATED CORPORATION. MS. STARNER SERVED AS TREASURER OF THE MILTON HERSHEY SCHOOL FROM JULY 2019 TO AUGUST 2020. SCHEDULE J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN CERTAIN OFFICERS OF THE MILTON HERSHEY SCHOOL ARE COMPENSATED BY A RELATED FOR-PROFIT ENTITY AND PARTICIPATE IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE HERSHEY TRUST COMPANY RETIREMENT SAVINGS EXCESS PLAN IS AN UNFUNDED ARRANGEMENT MAINTAINED PRIMARILY FOR THE PURPOSE OF PROVIDING DEFERRED COMPENSATION FOR A SELECT GROUP OF MANAGEMENT AND/OR HIGHLY COMPENSATED EMPLOYEES. INDIVIDUALS DESIGNATED IN WRITING BY THE PLAN ADMINISTRATOR ARE ELIGIBLE TO REDUCE THEIR SALARY BY UP TO 4% OF BASE SALARY LESS THE AMOUNT CONTRIBUTED TO THE QUALIFIED RETIREMENT PLAN WHICH IS CONTRIBUTED TO A BOOK ENTRY RETIREMENT PLAN. CONTRIBUTIONS ARE MATCHED BY THE EMPLOYER. DEFERRED COMPENSATION REPORTED ON SCHEDULE J INCLUDES BOTH CONTRIBUTIONS. ONE OFFICER DISCLOSED IN SCHEDULE J, PART II WAS A PARTICIPANT IN THE SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: AMOUNT DISTRIBUTED AMOUNT DEFERRED STEVEN SPARKS ESQ. $0 $30,726 SCHEDULE J REPORTABLE COMPENSATION MR. AND MRS. HERSHEY ORGANIZED THE MILTON HERSHEY SCHOOL ("THE SCHOOL") IN THE FORM OF A TRUST ("SCHOOL TRUST") CREATED UNDER AN ORIGINAL 1909 DEED OF TRUST THAT, AS AMENDED, STILL GOVERNS THE OPERATION OF THE SCHOOL. THE DEED OF TRUST SETS FORTH THE RESPECTIVE POWERS AND AUTHORITIES OF THE TRUSTEE AND MANAGERS OF THE SCHOOL, NAMES THE HERSHEY TRUST COMPANY, A STATE-CHARTERED TRUST COMPANY, AS TRUSTEE FOR COMPENSATION OF NO MORE THAN $1,000 PER YEAR AND PROVIDES FOR THE TRUSTEE TO APPOINT THE INDIVIDUAL MANAGERS OF THE SCHOOL FROM ITS OWN BOARD OF DIRECTORS. THE MANAGERS SUBSEQUENTLY INCORPORATED. THAT CORPORATION, ACTING AS MANAGER UNDER THE DEED OF TRUST, TOGETHER WITH THE SCHOOL TRUST ARE THE COMPONENTS OF THE INTEGRATED TAX-EXEMPT ORGANIZATION, THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST (EIN: 23-1353340). MR. HERSHEY CREATED THE SAME STRUCTURE FOR HIS OTHER CHARITY, THE M.S. HERSHEY FOUNDATION (EIN: 23-6242734). AS A RESULT OF THE STRUCTURE CREATED BY MR. HERSHEY, HERSHEY TRUST COMPANY: (A) SERVES AS TRUSTEE FOR THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST AND (B) SERVES AS TRUSTEE FOR THE M.S. HERSHEY FOUNDATION TRUST. THE COMPENSATION OF BOARD MEMBERS SERVING ON THE BOARDS OF ANY OF THE RELATED FOR-PROFIT ENTITIES (HERSHEY TRUST COMPANY, HERSHEY ENTERTAINMENT & RESORTS COMPANY, AND THE HERSHEY COMPANY) IS COMMENSURATE WITH THEIR RESPONSIBILITIES WITH RESPECT TO THE RELEVANT FOR-PROFIT ENTITY. THE FOLLOWING INFORMATION DETAILS THE COMPENSATION ARRANGEMENTS OF THE BOARD OF MANAGERS WHO ARE COMPENSATED BY RELATED FOR-PROFIT ENTITIES. (SCHEDULE J, PART II, LINE (II)) NONE OF THE COMPENSATION WAS PAID DIRECTLY BY MILTON HERSHEY SCHOOL AND SCHOOL TRUST (EIN 23-1353340). (SCHEDULE J, PART II, LINE (I)). JAN L. BERGEN MS. BERGEN JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN APRIL 2017. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, HERSHEY TRUST COMPANY (EIN 23-0692150). JAMES BROWN, ESQ. MR. BROWN JOINED THE BOARDS OF M00ILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN FEBRUARY 2016. MR. BROWN JOINED THE HERSHEY COMPANY BOARD ON MAY 3, 2017. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, THE HERSHEY COMPANY (EIN 23-0691590). MICHELA ENGLISH MS. ENGLISH JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN JANUARY 2018. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, HERSHEY TRUST COMPANY (EIN 23-0692150). MELISSA L. FULLMORE MS. FULLMORE JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN APRIL 2017. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, HERSHEY TRUST COMPANY (EIN 23-0692150). ROBERT C. HEIST, ESQ. MR. HEIST SERVED ON THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY FROM FEBRUARY 2011 TO DECEMBER 2021. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM A RELATED FOR-PROFIT COMPANY, HERSHEY TRUST COMPANY (EIN 23-0692150). DAN KATZIR MR. KATZIR JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN JANUARY 2019. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, HERSHEY TRUST COMPANY (EIN 23-0692150). JAMES KATZMAN MR. KATZMAN JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN APRIL 2017 AND THE BOARD OF THE HERSHEY COMPANY IN MAY 2018. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, THE HERSHEY COMPANY (EIN 23-0691590). M. DIANE KOKEN MS. KOKEN JOINED THE HERSHEY COMPANY BOARD ON MAY 3, 2017. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, THE HERSHEY COMPANY (EIN 23-0691590). MARIA KRAUS MS. KRAUS JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN JANUARY 2018. MS. KRAUS JOINED THE BOARD OF THE M.S. HERSHEY FOUNDATION IN APRIL 2018. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, HERSHEY TRUST COMPANY (EIN 23-0691590). AMY MARSH MS. MARSH JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN JANUARY 2019. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, HERSHEY TRUST COMPANY (EIN 23-0692150). CORDEL ROBBIN-COKER MR. ROBBIN-COKER JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN JANUARY 2019. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, HERSHEY TRUST COMPANY (EIN 23-0692150). MR. ROBBIN-COKER WAS ELECTED AS TREASURER FOR MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN SEPTEMBER 2020. HE DOES NOT RECEIVE ANY COMPENSATION FOR THIS OFFICER POSITION. DAVID SALTZMAN MR. SALTZMAN JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN DECEMBER 2014. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, HERSHEY TRUST COMPANY (EIN 23-0692150). THE FOLLOWING INFORMATION DETAILS THE COMPENSATION ARRANGEMENTS OF CERTAIN OFFICERS AND KEY EMPLOYEES OF THE MILTON HERSHEY SCHOOL. THEY ARE COMPENSATED BY RELATED FOR-PROFIT ENTITIES. THEIR COMPENSATION IS ESTABLISHED BASED UPON DATA PROVIDED BY INDEPENDENT COMPENSATION CONSULTANTS. THIS PROCESS IS BASED ON POSITION COMPARABLES TAKING INTO ACCOUNT RESPONSIBILITIES AND DUTIES, AUTHORITY, AND OBJECTIVES. NONE OF THEIR COMPENSATION, EMPLOYEE BENEFIT CONTRIBUTIONS, OR NON-TAXABLE BENEFITS WAS PAID DIRECTLY BY THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST DURING THE REPORTING PERIOD. CAROL DANZ MS. DANZ WAS APPOINTED ASSISTANT SECRETARY OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY (EIN: 23-0692150) IN JULY 2019. SHE ALSO SERVES AS MANAGER OF LEGAL AFFAIRS OF HERSHEY TRUST COMPANY. A PORTION OF HER 2019 COMPENSATION AND BENEFITS REPORTED BY HERSHEY TRUST COMPANY WAS REIMBURSED BY MILTON HERSHEY SCHOOL. MATTHEW JACOLIK MR. JACOLI FORM 990, PART I, LINE 1 AND FORM 990, PART III, LINE 1 MILTON HERSHEY SCHOOL AND SCHOOL TRUST MISSION MILTON HERSHEY SCHOOL IS ONE OF THE WORLD'S BEST PRIVATE SCHOOLS, WHERE QUALIFYING STUDENTS IN PRE-K THROUGH 12TH GRADE LIVE ON CAMPUS AND RECEIVE AN EXCEPTIONAL EDUCATIONAL EXPERIENCE-WITH ALL COSTS COVERED. MILTON AND CATHERINE HERSHEY FOUNDED THE SCHOOL IN 1909 WITH MONEY THEY EARNED FROM THE CHOCOLATE COMPANY. SINCE THEN, THE LIVES OF MORE THAN 11,000 CHILDREN FROM QUALIFYING FAMILIES HAVE BEEN TRANSFORMED THROUGH HIGH-QUALITY EDUCATION AND STRUCTURED HOME LIFE. DURING THE 2021-2022 SCHOOL YEAR, MILTON HERSHEY SCHOOL MARKED ITS 112TH YEAR AS A HOME AND SCHOOL FOR CHILDREN FROM POVERTY IN NEED OF CARE, SUPPORT, AND RESOURCES. KEEPING THE HERSHEYS' VISION AT THE FOREFRONT, STUDENTS RETURNED TO IN-PERSON CLASSES AT THE START OF THE SCHOOL YEAR-USHERING IN A GREATER SENSE OF NORMALCY WHILE ALSO BALANCING HEALTH AND SAFETY AMIDST THE COVID-19 PANDEMIC. AS THE PANDEMIC EVOLVED, MILTON HERSHEY SCHOOL REMAINED FLEXIBLE AND RESPONSIVE AND THE SCHOOL SHIFTED TO IN-PERSON ACTIVITIES, MENTORING OPPORTUNITIES, AND FAMILY WEEKENDS. WITH A HEIGHTENED COMMITMENT TO EXCELLENCE AND THE GUIDANCE OF THE MILT PLAN, THE SCHOOL'S FIVE-YEAR STRATEGIC PLAN, MILTON HERSHEY SCHOOL FOCUSED ON FOUR KEY AREAS IN 2021-2022: MODELING CHARACTER AND WELL-BEING; INNOVATING CAREER-FOCUSED EDUCATION; LEVERAGING IMPACT AND TEAMWORK TO STRENGTHEN COMMUNITY ALIGNMENT AND ENGAGEMENT. BY THE END OF THE 2021-2022 SCHOOL YEAR, MILTON HERSHEY SCHOOL WELCOMED 453 NEW STUDENTS, GRADUATED 217 SENIORS, EXPANDED CAREER-FOCUSED EDUCATION OPPORTUNITIES FOR ALL STUDENTS, AND OPENED THE GERTRUDE GURT FAMILY CENTER TO NURTURE THE RELATIONSHIPS AMONG PARENTS/SPONSORS, STUDENTS, AND THE SCHOOL. STUDENTS LIVE AT MILTON HERSHEY SCHOOL AS PART OF THE HOME LIFE RESIDENTIAL PROGRAM. EACH STUDENT HAS A SAFE AND SUPPORTIVE ENVIRONMENT TO CALL HOME UNDER THE WATCHFUL CARE, SUPERVISION, AND SUPPORT OF A MARRIED HOUSEPARENT COUPLE. THESE EXPERIENCED AND TRAINED ADULTS CARE FOR 8-12 STUDENTS OF SIMILAR AGES AND THE SAME GENDER IN ONE OF APPROXIMATELY 190 STUDENT HOMES ACROSS CAMPUS. WHEN STUDENTS REACH THEIR SENIOR YEAR, THEY PARTICIPATE IN THE TRANSITIONAL LIVING PROGRAM, WHICH PREPARES THEM FOR LIFE AFTER GRADUATION. THE SENIORS LIVE IN ONE OF TEN APARTMENT-STYLE RESIDENCES ON CAMPUS UNDER THE GUIDANCE AND SUPERVISION OF FULL-TIME ADULT, LIVE-IN STAFF. THIS COLLEGE/DORMITORY LIFESTYLE AND THE ACCOMPANYING RESPONSIBILITIES HELP BUILD STUDENTS' CONFIDENCE IN LIVING INDEPENDENTLY AND FACING OTHER CHALLENGES THEY MAY ENCOUNTER AFTER HIGH SCHOOL. STUDENTS LEARN SKILLS FROM PERSONAL FINANCE AND SAFETY TO HEALTHY SLEEPING AND EATING HABITS IN THE TRANSITIONAL LIVING CURRICULUM. AT MILTON HERSHEY SCHOOL, THE APPROACH TO CARE IS CENTERED AROUND THE IDEA THAT CHILDREN MUST FIRST HAVE THEIR ESSENTIAL NEEDS MET BEFORE THEY CAN FOCUS ON AND SUCCEED AT ANYTHING ELSE. AS PART THE SCHOOL'S ONGOING WRAPAROUND SERVICES AND RESOURCES, STUDENTS NOT ONLY RECEIVE HIGH QUALITY LEARNING EXPERIENCES AND DEVELOPMENT OPPORTUNITIES, BUT THEY ALSO RECEIVE PERSONALIZED MEDICAL AND BEHAVIORAL CARE, AS WELL AS DENTAL AND VISION SERVICES, FOOD, CLOTHING, AND A NURTURING HOME LIFE. IN THE 2021-2022 SCHOOL YEAR, 1,978 STUDENTS FROM LOW-INCOME FAMILIES BENEFITED FROM MILTON HERSHEY SCHOOL'S COST-FREE AND WHOLE-CHILD APPROACH TO EDUCATION. BECAUSE MILTON HERSHEY SCHOOL SERVES LOW-INCOME STUDENTS, MOST OBSTACLES THE STUDENTS FACE STEM FROM POVERTY-RELATED ISSUES. POVERTY MAKES THEM MORE LIKELY TO BE IMPACTED BY A VARIETY OF ADVERSE CHILDHOOD EXPERIENCES (ACES)-TRAUMATIC EVENTS CHILDREN EXPERIENCE BEFORE THE AGE OF 18. IN THE 2021-2022 SCHOOL YEAR, FIFTY PERCENT OF MILTON HERSHEY SCHOOL STUDENTS HAD MENTAL HEALTH CHALLENGES IN THEIR FAMILY, FORTY-SIX PERCENT HAD EXPERIENED FAMILY DRUG OR ALCOHOL USE DISORDERS, FORTY-ONE PERCENT HAD A FAMILY MEMBER INCARCERATED, TWENTY-THREE PERCENT HAD BEEN VICTIMS OF DOMESTIC VIOLENCE, AND TWENTY-ONE PERCENT HAD EXPERIENCED HOMELESSNESS. THANKS TO THE GENEROSITY OF MILTON AND CATHERINE HERSHEY, ALL MILTON HERSHEY SCHOOL STUDENTS RECEIVE WRAPAROUND CARE AND SUPPORT THAT HELPS THEM COPE WITH AND REDUCE THE NEGATIVE EFFECTS OF ACES-PUTTING THEM ON A PATH TO REACH THEIR PERSONAL GOALS AND BREAK THE CYCLE OF POVERTY. THIS TYPE OF SUPPORT HAS ALWAYS BEEN IMPORTANT TO MILTON HERSHEY SCHOOL STUDENTS BUT BECOME EVEN MORE CRITICAL DURING PANDEMIC TIMES. IN ADDITION TO A RIGOROUS ACADEMIC PROGRAM, THE SCHOOL EMPHASIZES COLLEGE AND CAREER READINESS FOR ITS STUDENTS. SINCE MILTON HERSHEY SCHOOL WAS FOUNDED IN 1909, CAREER TRAINING HAS BEEN INTENTIONALLY INCORPORATED INTO THE SCHOOL'S CURRICULUM SO STUDENTS ARE READY FOR LIFE BEYOND CAMPUS. THAT IS WHY THE SCHOOL'S STRATEGIC PLAN HAS AN EMPHASIS ON CAREER-FOCUSED EDUCATION FOR STUDENTS FROM PRE-K THROUGH 12TH GRADE. IN THE 2021-2022 SCHOOL YEAR, THANKS TO THE SUPPORT AND EXPERTISE OF MILTON HERSHEY SCHOOL STAFF, HERSHEY ENTITY PARTNERS, GRADUATES, AND LOCAL BUSINESS LEADERS, MILTON HERSHEY SCHOOL BROADENED CAREER EXPOSURE, BUILT OUT AUTHENTIC WORK EXPERIENCES, AND INCREASED HANDS-ON LEARNING. SIXTY-THREE PERCENT OF 2022 GRADUATES COMPLETED AN INTERNSHIP, CO-OP, OR PRE-APPRENTICESHIP, AND 214 HIGH SCHOOL STUDENTS COMPLETED AUTHENTIC WORK EXPERIENCES-UP FROM 68 DURING THE 2020-2021 SCHOOL YEAR. IN ADDITION, 267 HIGH SCHOOL STUDENTS EARNED COLLEGE CREDITS. MILTON HERSHEY SCHOOL CONTINUES TO INVEST IN THE FUTURE. IN 2021-2022, WORK CONCLUDED ON A NEW STATE-OF-THE-ART 5,290-SQUARE-FOOT FACILITY TO HOUSE THE CONSTRUCTION/CARPENTRY CAREER PATHWAY. IN 2022-2023, THE BUILDING WILL ALSO HOUSE A NEWLY DEVELOPED WELDING CURRICULUM. THE CLASS OF 2022 WAS THE FIRST TO PHYSICALLY CROSS THE COMMENCEMENT STAGE SINCE 2019. DESPITE FACING MANY CHALLENGES, THESE 217 SENIORS VOLUNTEERED MORE THAN 1,350 HOURS TOWARD COMMUNITY SERVICE PROJECTS, EARNED 1,148 COLLEGE CREDITS, AND COMPLETED 125 INTERNSHIPS. EIGHTY-EIGHT PERCENT OF 2022 GRADUATES PLANNED TO CONTINUE THEIR EDUCATION AT A TWO- OR FOUR-YEAR COLLEGE OR TECHNICAL SCHOOL. THE LEVEL OF COLLEGE-RELATED FUNDING THE SCHOOL OFFERS ITS STUDENTS IS GREATER THAN THAT OF PEER SCHOOLS AND SCHOLARSHIP PROVIDERS. MILTON HERSHEY SCHOOL AIMS TO COVER THE MAJORITY, IF NOT ALL, OF ITS GRADUATES' POSTSECONDARY EDUCATION EXPENSES, INCLUDING TUITION, FEES, BOOKS, AND ROOM AND BOARD. IN ADDITION, WHETHER THEY ARE ENTERING COLLEGE OR TECHNICAL SCHOOL, THE WORKFORCE, OR THE MILITARY, MILTON HERSHEY SCHOOL PROVIDES COMPREHENSIVE AND INDIVIDUALIZED SUPPORT TO STUDENTS AND GRADUATES THROUGH THE GRADUATE PROGRAMS FOR SUCCESS (GPS) DIVISION. DEDICATED CAREER COUNSELORS AND TRANSITION SPECIALISTS SUPPORT STUDENTS AND ALUMNI OF ALL AGES. CAREER COUNSELORS PROVIDE HIGH SCHOOL STUDENTS WITH MENTORSHIP AND GUIDANCE ABOUT JOB INTERVIEWS, COLLEGE APPLICATIONS, AND TRANSPORTATION TO ORIENTATIONS. TRANSITION SPECIALISTS PROVIDE TARGETED SUPPORT TO YOUNG ALUMNI RECOGNIZING THAT EVERY STUDENT'S PATH TO SUCCESS IS DIFFERENT. MILTON HERSHEY SCHOOL HAS RECEIVED CONTINUED APPROVAL TO SUPPORT CATHERINE HERSHEY SCHOOLS FOR EARLY LEARNING, OUR $350 MILLION EARLY CHILDHOOD EDUCATION INITIATIVE TO CREATE COST-FREE EARLY CHILDHOOD EDUCATION CENTERS FOR CHILDREN FROM SIX-WEEKS TO AGE 5 FROM LOW-INCOME BACKGROUNDS. IN NOVEMBER 2021, CATHERINE HERSHEY SCHOOLS BROKE GROUND ON CHS HERSHEY, THE FIRST OF ITS CENTERS. IN ADDITION, THE LOCATIONS OF THE SECOND AND THIRD CENTERS WERE ANNOUNCED AS HARRISBURG AND MIDDLETOWN. IN 2021-2022, MILTON HERSHEY SCHOOL MADE A $21 MILLION CONTRIBUTION TO CATHERINE HERSHEY SCHOOLS. FORM 990, PART I, LINE 1 AND FORM 990, PART III, LINE 1 (CONT.) FORM OF ORGANIZATION MILTON HERSHEY SCHOOL AND SCHOOL TRUST IS AN INTEGRATED TAX-EXEMPT ORGANIZATION COMPOSED OF BOTH THE NOT-FOR-PROFIT CORPORATION, MILTON HERSHEY SCHOOL, ACTING AS "MANAGERS" UNDER THE DEED OF TRUST, AND THE SCHOOL TRUST ITSELF. THIS INFORMATIONAL RETURN IS REQUIRED TO INCLUDE THE EXPENSES OF THE ORGANIZATION AS A WHOLE, WITH DETAIL AS REQUIRED BY THE FORM INSTRUCTIONS. AS A RESULT, THIS RETURN INCLUDES ALL EXPENSES OF SERVING THE STUDENTS ENROLLED IN THE SCHOOL AND SCHOLARSHIP COSTS FOR ALUMNI PURSUING CONTINUING EDUCATION, AS WELL AS THE COSTS ASSOCIATED WITH ADMINISTERING THE INVESTMENTS HELD IN THE SCHOOL TRUST. FORM 990, PART I, LINE 5 THIS FIGURE INCLUDES W-2 FORMS FILED WITHIN THE TAX YEAR: ALL ANCILLARY ROLES, PART-TIME INTERNSHIPS AND WORK EXPERIENCE FOR STUDENTS ON CAMPUS, POSITIONS WHICH HAVE BEEN VACATED AND FILLED BY ANOTHER INDIVIDUAL WITHIN THE YEAR, AND ONE-TIME EVENT WORKERS, FOR EXAMPLE. MILTON HERSHEY SCHOOL EMPLOYS APPROXIMATELY 1,350 FULL-TIME STAFF. FORM 990, PART III PROGRAM SERVICE ACCOMPLISHMENTS MILTON HERSHEY SCHOOL SEEKS TO NURTURE AND EDUCATE THE "WHOLE CHILD," WHICH MEANS THE SCHOOL PROVIDES FOR EACH CHILD IN A COMPREHENSIVE MANNER - COVERING THE EXPENSES OF, BUT NOT LIMITED TO THE FOLLOWING: - THE EDUCATION OF STUDENTS IN STATE-OF-THE-ART CLASSROOMS WITH SMALL CLASS SIZES AVERAGING 15 STUDENTS PER CLASSROOM - THE PHYSICAL, MEDICAL, DENTAL, AND PSYCHOLOGICAL CARE OF ALL STUDENTS - CLOTHING, FOOD, AND ROOM AND BOARD - CAREER AND TECHNICAL TRAINING, COLLEGE COURSES BEFORE GRADUATION, VISUAL AND PERFORMING ARTS, MUSICAL INSTRUCTION, ATHLETIC PROGRAMS AND CAMPS, AND AGRICULTURAL AND ENVIRONMENTAL EDUCATION OFTEN NEW STUDENTS WHO ENROLL AT THE SCHOOL HAVE FALLEN AT LEAST ONE OR TWO GRADE LEVELS BEHIND BECAUSE OF FACTORS RELATED TO POVERTY, SUCH AS HOMELESSNESS, FAMILY DRUG AND ALCOHOL ADDICTION, MENTAL ILLNESS, OR NEIGHBORHOOD VIOLENCE. OF NEW STUDENTS ENROLLED IN THE 2021-2022 SCHOOL YEAR, THIRTY-SEVEN PERCENT ATTENDED AT LEAST THREE DIFFERENT SCHOOLS BEFORE ARRIVING AT MILTON HERSHEY SCHOOL. AT MILTON HERSHEY SCHOOL, STUDENTS ARE GIVEN PSYCHOLOGICAL AND EMOTIONAL SUPPORT WHEN NEEDED. MORE THAN EIGHTY-TWO PERCENT OF STUDENTS RECEIVE ANYWHERE FROM ONE TO NINE SPECIALTY SERVICES AND SEVENTEEN PERCENT RECEIVE TEN OR MORE SERVICES. DESPITE THESE CHALLENGES, MILTON HERSHEY SCHOOL STUDENTS ARE RESILIENT AND HAVE HIGH POTENTIAL FOR SUCCESS IN THE SCHOOL'S UNIQUE NURTURING ENVIRONMENT. IN ADDITION TO HOUSING, FOOD, AND CLOTHING, EACH STUDENT RECEIVES REGULAR MEDICAL, VISION, AND DENTAL CHECKUPS FROM THE SCHOOL, AS WELL AS ANY NECESSARY HEALTH SERVICE OR MEDICATION. DURING SCHOOL YEAR 2021-2022, THERE WERE 115,210 HEALTH SERVICE VISITS BY STUDENTS TO THE SCHOOL'S MEDICAL PROFESSIONALS DURING THE REPORTING YEAR, IN ADDITION TO 52,169 DENTAL PROCEDURES PERFORMED ON STUDENTS. A STRONG FOCUS ON CAREER AND TECHNICAL EDUCATION, JOB SHADOWING, AND HANDS-ON LEARNING THROUGH INTERNSHIPS, CO-OPS, AND PRE-APPRENTICESHIPS HELPS TO PREPARE STUDENTS FOR LIFE BEYOND MILTON HERSHEY SCHOOL. STUDENTS IN ALL GRADE LEVELS, INCLUDING ELEMENTARY STUDENTS, ARE EXPOSED TO AGE AND GRADE APPROPRIATE CAREER AND TECHNICAL EDUCATION. YOUNG LEARNERS START WITH HANDS-ON ACTIVITIES AND GUEST SPEAKERS WHILE HIGH SCHOOL STUDENTS' COMPLETE INTERNSHIPS AND ACCREDITED INDUSTRY CERTIFICATIONS. THERE ARE CURRENTLY TWELVE CAREER PATHWAYS THAT STUDENTS ARE ABLE TO PURSUE, INCLUDING: BUSINESS/FINANCIAL MANAGEMENT & ACCOUNTING; LAW, PUBLIC SAFETY, & SECURITY; COMPUTER SCIENCE & INNOVATION; AGRICULTURE & NATURAL RESOURCES; AND EDUCATION & HUMAN SERVICES. ------------------- THIS TUITION-FREE, COMPREHENSIVE PROGRAM, INCLUDING PHYSICAL CARE AS WELL AS EDUCATIONAL PROGRAMMING IN ACADEMIC, HOME LIFE AND COMMUNITY/CAREER SETTINGS, HAS AN ANNUAL COST OF: TOTAL PROGRAM EXPENSES: 241,880,917 LESS: LINE 22 DEPRECIATION (38,728,333) LINE 2 GRANTS (6,788,703) -------------- TOTAL EXPENSES 196,363,881 TOTAL NUMBER OF STUDENTS: 1,978 GAAP Cost per Student - Total Expenses (Part IX Line 25) $309,172,162 (TOTAL EXPENSES/1,978) = $156,305 Total Annual Cost per Student- School and Trust Total Program expenses less depreciation (Part IX line 22) and CES Grants (Part IX line 2) $196,636,881 (TOTAL EXPENSES)/1,978 (TOTAL NUMBER OF STUDENTS) = $99,274 MHS DIRECT COST PER STUDENT - SCHOOL ONLY A PREMIER BOARDING SCHOOL LIKE MILTON HERSHEY SCHOOL, THE ANNUAL INVESTMENT OF MORE THAN $90,000 PER STUDENT INCLUDES HOLISTIC CARE, EDUCATION RESOURCES, GRADUATE PROGRAMS, AND MORE. MILTON HERSHEY SCHOOL ASSUMES THE COST FOR MEDICAL, PSYCHOLOGICAL, DENTAL, ORTHODONTIC, SOCIAL WORK, AND PRESCRIPTION CARE FOR EACH STUDENT. COSTS AT MOST PRIVATE COLLEGES ALSO EXCEED THIS FIGURE. FORM 990, PART VI, SECTION A, LINE 2 FAMILY/BUSINESS RELATIONSHIP SEVERAL OF THE BOARD OF MANAGERS MEMBERS AND OFFICERS OF THE FILING ORGANIZATION ALSO SERVE AS DIRECTORS AND OFFICERS OF BUSINESS ENTITIES THAT ARE RELATED TO THIS FILING ORGANIZATION. OTHER THAN THEIR OVERLAPPING SERVICE ON RELATED COMPANY BOARDS, THEY HAVE NO FAMILY OR BUSINESS RELATIONSHIPS WITH EACH OTHER. PLEASE SEE FORM 990, SCHEDULES J AND R FOR FURTHER INFORMATION. FORM 990, PART VI, SECTION A, LINE 7A ELECTION OF MEMBERS OF GOVERNING BODY MR. AND MRS. HERSHEY ORGANIZED THE SCHOOL THROUGH THE SCHOOL TRUST ("THE SCHOOL TRUST"), CREATED UNDER THE ORIGINAL 1909 DEED OF TRUST THAT, AS AMENDED, STILL GOVERNS THE OPERATION OF THE SCHOOL. THE DEED OF TRUST SETS FORTH THE RESPECTIVE POWERS AND AUTHORITIES OF THE TRUSTEE AND MANAGERS OF THE SCHOOL AND NAMES THE HERSHEY TRUST COMPANY ("HTC"), A STATE CHARTERED TRUST COMPANY, AS TRUSTEE FOR COMPENSATION OF NO MORE THAN $1,000 PER YEAR. UNDER THE DEED OF TRUST, THE TRUSTEE IS DIRECTED TO HOLD TITLE TO ALL SCHOOL PROPERTY AND ALL INVESTMENTS AND ASSETS THAT SUPPORT THE SCHOOL. THE MANAGERS, IN TURN, ARE NOT PERMITTED TO HOLD SCHOOL TRUST ASSETS; BUT, ARE OTHERWISE GENERALLY RESPONSIBLE FOR MANAGING THE SCHOOL, INCLUDING WITH RESPECT TO ADMISSIONS, THE PROGRAM OF EDUCATING AND FULL-TIME CARE OF THE CHILDREN, AND EMPLOYMENT DECISIONS. AS REQUIRED UNDER THE DEED OF TRUST, THE MEMBERS OF THE BOARD OF MANAGERS OF THE MILTON HERSHEY SCHOOL ARE APPOINTED BY THE TRUSTEE FROM AMONG THE TRUSTEE'S OWN BOARD OF DIRECTORS. SINCE MR. HERSHEY'S DEATH IN 1945, ALL OF THE STOCK OF HTC HAS BEEN OWNED BY THE MILTON HERSHEY SCHOOL TRUST. THE SAME ELEVEN INDIVIDUALS (AS OF 7/31/22) SERVE ON THE BOARD OF DIRECTORS OF HTC AND THE BOARD OF MANAGERS OF THE MILTON HERSHEY SCHOOL. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 REVIEW PROCESS THE FORM 990 IS REVIEWED BY THE ORGANIZATIONS' MANAGEMENT AND INDEPENDENT TAX ADVISOR, WHO SIGNS THE RETURN AS THE "PAID PREPARER." THE AUDIT COMMITTEE OF THE BOARD OF MANAGERS AND THE TRUSTEE REVIEWS AND DISCUSSES THE FORM 990 AT ONE OF ITS MEETINGS PRIOR TO FILING THE RETURN WITH THE IRS. ADDITIONALLY, THE FORM 990 IS PROVIDED TO THE FULL BOARD OF MANAGERS, NOTING KEY DISCLOSURES, PRIOR TO THE FILING OF THE FORM 990 WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST THE BOARD OF MANAGERS OF MILTON HERSHEY SCHOOL OPERATES UNDER A CONFLICT OF INTEREST POLICY WHICH REQUIRES DIRECTORS TO DISCLOSE "ALL ACTUAL OR POTENTIAL CONFLICTS OF INTEREST" WITH MILTON HERSHEY SCHOOL AND SCHOOL TRUST OR HERSHEY TRUST COMPANY. THE CONFLICTS POLICY CANNOT BE MODIFIED OR AMENDED WITHOUT THE PRIOR WRITTEN APPROVAL OF THE PENNSYLVANIA OFFICE OF ATTORNEY GENERAL ("PA OAG"). THE MILTON HERSHEY SCHOOL'S CONFLICT OF INTEREST POLICY IS APPLICABLE TO ALL SCHOOL EMPLOYEES AND REQUIRES THE SCHOOL'S OFFICERS, MANAGERS, AND SUPERVISORS TO RESPOND ANNUALLY TO A CONFLICT DISCLOSURE SURVEY. ALL DISCLOSED CONFLICTS ARE REVIEWED BY THE SCHOOL'S CONFLICT OF INTEREST COMMITTEE AND ANY CORRECTIVE ACTION REQUIRED AS A RESULT OF THE DISCLOSED CONFLICT IS ADDRESSED WITH THE EMPLOYEE WHO MADE THE DISCLOSURE AND THEIR SUPERVISOR. THE CONFLICT OF INTEREST POLICY COVERING OFFICERS AND OTHER KEY EMPLOYEES OF HERSHEY TRUST COMPANY, TRUSTEE FOR MILTON HERSHEY SCHOOL AND SCHOOL TRUST, IS DOCUMENTED IN HERSHEY TRUST COMPANY'S ETHICAL STANDARDS, CONFLICT OF INTEREST, AND CODE OF CONDUCT SECTIONS OF ITS POLICY MANUALS. EACH MANAGER, DIRECTOR, OFFICER, AND KEY EMPLOYEE IS REQUIRED TO AVOID ALL ACTIVITY THAT COULD CREATE A CONFLICT OF INTEREST OR EVEN GIVE AN APPEARANCE OF A CONFLICT OF INTEREST. ANY CONFLICTS OF INTEREST ARE TO BE REPORTED AS SOON AS PRACTICAL AFTER THEY BECOME AWARE OF SUCH A CONFLICT. ANNUALLY, EACH MANAGER, DIRECTOR, OFFICER AND KEY EMPLOYEE IS REQUIRED TO COMPLETE AN ANNUAL STATEMENT OF DISCLOSURE. THE FORMS IDENTIFY VENDORS, INVESTMENTS, OTHER BOARD MEMBERSHIPS, AND FAMILY MEMBERS THAT COULD GIVE RISE TO CONFLICTS OF INTEREST. THE STATEMENTS ARE REVIEWED BY THE GENERAL COUNSEL OF HERSHEY TRUST COMPANY, ALONG WITH THE CHAIR OF THE NOMINATING & GOVERNANCE COMMITTEE IN ORDER FOR THEM TO BE AWARE OF ACTIVITIES THAT COULD GIVE RISE TO CONFLICTS OF INTEREST. THE RESULTS OF THIS REVIEW ARE THEN DOCUMENTED AND SHARED WITH THE NOMINATING & GOVERNANCE COMMITTEE AND THEN THE FULL BOARD. FORM 990, PART VI, SECTION B, LINES 15A AND 15B COMPENSATION PROCESS AN INDEPENDENT COMPENSATION CONSULTANT EVALUATES AND COMPARES THE COMPENSATION OF THE OFFICERS AND KEY EMPLOYEES OF MILTON HERSHEY SCHOOL TO SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS TO DETERMINE THAT IT IS FAIR AND REASONABLE. THIS PROCESS OCCURS AT REGULAR INTERVALS THEREAFTER, BUT NOT LESS FREQUENTLY THAN EVERY FIVE YEARS. THE COMPENSATION INFORMATION IS REVIEWED AND APPROVED BY THE BOARD OF MANAGERS, THE GOVERNING BODY OF THE MILTON HERSHEY SCHOOL, WHO DO NOT HAVE ANY CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENTS OF THE OFFICERS AND KEY EMPLOYEES. THE REVIEW OF THE COMPENSATION OF THE OFFICERS AND KEY EMPLOYEES, INCLUDING DETAIL ON THE DELIBERATIONS AND DECISIONS, IS CONTEMPORANEOUSLY DOCUMENTED WITHIN THE MINUTES FROM THE BOARD MEETING. A FILE WITH POSITION DESCRIPTIONS, RESUMES OF OFFICERS AND KEY EMPLOYEES, THE REPORT OF THE INDEPENDENT COMPENSATION CONSULTANT AND A COPY OF THE APPLICABLE BOARD MINUTES IS MAINTAINED BY THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST. THE COMPENSATION OF THE OFFICERS AND KEY EMPLOYEES OF HERSHEY TRUST COMPANY, TRUSTEE OF THE SCHOOL TRUST, IS DETERMINED BY PERIODIC REVIEW (GENERALLY, AT LEAST EVERY THREE YEARS) BY THIRD PARTY COMPENSATION CONSULTANTS TO DETERMINE IT IS FAIR AND REASONABLE. THE MEMBERS OF THE BOARD OF MANAGERS OF MILTON HERSHEY SCHOOL DO NOT RECEIVE ANY DIRECT COMPENSATION FROM MILTON HERSHEY SCHOOL. THE MANAGERS RECEIVE COMPENSATION FROM HERSHEY TRUST COMPANY AS DIRECTORS OF THE HERSHEY TRUST COMPANY IN ACCORDANCE WITH ITS BYLAWS AND THE PENNSYLVANIA OFFICE OF ATTORNEY GENERAL AGREEMENT. FORM 990, PART VI, SECTION C, LINE 17 STATE FILING OF FORM 990 THE FORM 990 IS NOT REQUIRED TO BE FILED IN THE STATE OF PENNSYLVANIA; HOWEVER, A COPY IS PROVIDED TO THE PENNSYLVANIA OFFICE OF THE ATTORNEY GENERAL FOR THEIR REVIEW. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC AVAILABILITY OF GOVERNING DOCUMENTS COPIES OF THE DEED OF TRUST WHICH ESTABLISHES THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST, AND THE CONFLICT OF INTEREST POLICY ARE POSTED ON THE MILTON HERSHEY SCHOOL WEBSITE. THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST HAS ITS FORM 990 POSTED ON ANOTHER WEBSITE, GUIDESTAR. INCLUDED IN THE 990 ARE CERTAIN FINANCIAL STATEMENT COMPONENTS FOR REVIEW. THE FORM 990 AND TAX EXEMPTION LETTER ARE PROVIDED TO ANYONE WHO REQUESTS THEM IN ACCORDANCE WITH IRS REGULATIONS. FORM 990, PART VII, SECTION B HERSHEY TRUST COMPANY IS LISTED AS AN INDEPENDENT CONTRACTOR. MILTON HERSHEY SCHOOL REIMBURSES HERSHEY TRUST COMPANY FOR THE SHARED SERVICES (COMPENSATION AND BENEFITS) OF CERTAIN INDIVIDUALS WHO PERFORM SERVICES FOR BOTH HERSHEY TRUST COMPANY AND MILTON HERSHEY SCHOOL. THE SCHOOL TRUST REIMBURSES HERSHEY TRUST COMPANY FOR INVESTMENT SERVICES. FORM 990, PART IX, LINE 11G OTHER FEES FOR SERVICE THIS AMOUNT IS FOR HOSPITAL, MEDICAL, AND DENTAL SERVICES PROVIDED FOR THE STUDENTS. FORM 990, PART XI, LINE 9 RECONCILIATION OF NET ASSETS INCREASE IN UNRECOGNIZED PENSION SERVICE COST $22,387,497 CAPITAL CONTRIBUTION TO CHS (21,019,970) ________________ OTHER CHANGES IN NET ASSETS $1,367,527 MHST CORPUS LLC PO BOX 445 HERSHEY PA 17033 271451942 RE RENTAL PA 0 0 MHS TRUST MHST INCOME LLC PO BOX 445 HERSHEY PA 17033 271451914 RE RENTAL PA 0 0 MHS TRUST EATON VANCE TRUST CO HIGH YIELD CTF TWO INTERNATIONAL PLACE BOSTON MA 02210 320399219 INVESTMENTS MA 11788289 181203769 MHS TRUST THE MS HERSHEY FOUNDATION PO BOX 445 HERSHEY PA 17033 236242734 EDUCATION PA 501(c)(3) 10 HTC TRUSTEE false THE WILLIAM E DEARDEN ALUMNI CAMPUS INC PO BOX 830 HERSHEY PA 17033 202579678 SVCS TO ALUM PA 501(c)(3) 7 NA false HERSHEY CEMETERY COMPANY PO BOX 445 HERSHEY PA 17033 231973529 CEMETERY PA 501(c)(13) N/A NA false Hershey Cemetery Perpetual Maintenance PO Box 445 Hershey PA 17033 236629638 Cemetery PA 501(c)(13) N/A HTC Trustee false CATHERINE HERSHEY SCH FOR EARLY LEARNING 1840 Fishburn Rd HERSHEY PA 17033 854322274 EDUCATION PA 501(C)(3) 2 MHSST true Franklin Templeton Emerging Mkt Debt Opp PO Box 777 San Mateo CA 94403 263995499 INVESTMENTS CA MHS Trust Excluded from Tax 10237401 107245340 false 0 false 1.00000 Sands Capital Intl Growth Feeder 1000 Wilson Blvd Suite 3000 Arlington VA 22209 842447062 INVESTMENTS VA MHS TRust Excluded from Tax 7171825 37319393 false 0 false 1.00000 CHURCHILL MIDDLE MARKET SENIOR LOAN MAPLES CORP FUND LTD PO BOX 309 UGLAND HOUSE GR CJ KY1-1104 850547286 INVESTMENTS CJ MHS TRUST Excluded from Tax 1188497 41228951 false 0 false 0.50000 HERSHEY TRUST COMPANY PO BOX 445 HERSHEY PA 17033 230692150 STATE TRUST C PA HTC TRUSTEE C CORP 14959637 51148829 1.00000 true HERSHEY ENTERTAINMENT & RESORTS CO 27 W CHOCOLATE HERSHEY PA 17033 230691815 ENTERTAINMENT PA HTC TRUSTEE C CORP 287370125 404950316 1.00000 true THE HERSHEY CO 19 E CHOCOLATE AVENUE HERSHEY PA 17033 230691590 CONFECTIONARY PA HTC TRUSTEE C CORP 1366213096 3061737396 0.80650 true MILTON HERSHEY SCHOOL BLK TRUST BLACKROCK INST TR TTE 400 HOWARD S SAN FRANCISCO CA 94105 306349039 INVESTMENTS CA MHS TRUST TRUST 260024081 2194104995 1.00000 true HERSHEY WEST END LAND CONDO ASSOC INC 100 EAST MANSION ROAD HERSHEY PA 17033 462294247 CONDO ASSOCIA PA HTC TRUSTEE C corp 5605 5605 1.00000 true THE ORCHARD AT HERSHEY CONDO ASSOC INC 100 EAST MANSION ROAD HERSHEY PA 17033 462295692 INACTIVE PA HTC TRUSTEE C corp 0 0 1.00000 true MS FOUNDATION BLK TRUST 400 HOWARD ST SAN FRANCISCO CA 94105 306349022 INVESTMENTS CA MSH FDN TRUST TRUST false true false false false false true true true false false false false true false true true false true false Hershey Entertainment & Resorts Co a 169858 market Hershey Trust Company a 248443 market The MS Hershey Foundation a 15985 market Eaton Vance Trust Co High Yield CTF f 6685977 market The Hershey Co f 197054452 market Milton Hershey School BLK Trust g 405069526 market Milton Hershey School BLK Trust h 1003682306 market Hershey Entertainment & Resorts Co p 1044961 market The MS Hershey Foundation p 123002 market The Hershey Co P 82147 market Sands Intl Growth Feeder f 183181 market Franklin Templeton Emerging Mkts Debt g 7276752 market Franklin Templeton Emerging Mkts Debt h 7276752 market Eaton Vance Trust Co High Yield CTF h 80000000 market Catherine Hershey SchoolS FOR EARLY LEARNING R 3177136 market CHURCHHILL MIDDLE MARKET SENIOR LOAN FUND III B 28795237 MARKET Hershey Entertainment & Resorts Co C 155249 market Hershey Entertainment & Resorts Co f 14805000 market The Hershey Co g 203350000 market SCHEDULE R, PART I DISREGARDED ENTITIES THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST OWNS 100% OF MHST CORPUS LLC AND MHST INCOME LLC. BOTH ARE PENNSYLVANIA SINGLE-MEMBER LIMITED LIABILITY COMPANIES. THE LLCS' PRINCIPAL ACTIVITY ARE THE ACQUISITION, HOLDING AND DEVELOPMENT OF RENT-PRODUCING REAL ESTATE, AND THEIR PRINCIPAL SOURCE OF REVENUE IS RENT. THEY ARE DISREGARDED SINGLE-MEMBER LLCS FOR TAX PURPOSES. MHST CORPUS LLC AND MHST INCOME LLC DO NOT CURRENTLY HAVE ANY ASSETS OR INCOME. SCHEDULE R, PART II RELATED TAX-EXEMPT ORGANIZATIONS RELATED TAX-EXEMPT ORGANIZATIONS THE CATHERINE HERSHEY SCHOOLS FOR EARLY LEARNING (EIN 85-4322274) IS A PENNSYLVANIAN NONPROFIT THAT IS EXEMPT FROM FEDERAL INCOME TAX PURSUANT TO INTERNAL REVENUE CODE SECTION 501(C)(3). THE MILTON HERSHEY SCHOOL, A PENNSYLVANIA NONPROFIT CORPORATION, IS THE SOLE MEMBER OF THE CORPORATION. THE AFFAIRS OF THE CATHERINE HERSHEY SCHOOLS FOR EARLY LEARNING ARE MANAGED UNDER THE DIRECTION OF THE BOARD OF DIRECTORS, WHO ARE ELECTED ANNUALLY BY THE MILTON HERSHEY SCHOOL BOARD OF MANAGERS, UNLESS RESERVED TO OR REQUIRED TO BE EXERCISED BY THE MILTON HERSHEY SCHOOL BOARD OF MANAGERS AS SET FORTH IN THE BYLAWS OF THE CORPORATION. THE M.S. HERSHEY FOUNDATION (EIN 23-6242734) IS A PENNSYLVANIA NONPROFIT THAT IS EXEMPT FROM FEDERAL INCOME TAX PURSUANT TO INTERNAL REVENUE CODE SECTION 501(C)(3). MILTON HERSHEY FUNDED THE FOUNDATION IN 1935 AND APPOINTED HERSHEY TRUST COMPANY AS ITS TRUSTEE. THE FOUNDATION HAS SEVERAL OPERATIONS IN HERSHEY, PENNSYLVANIA INCLUDING THE HERSHEY STORY, HERSHEY GARDENS, HERSHEY COMMUNITY ARCHIVES AND THE HERSHEY THEATRE. THE MEMBERS OF THE BOARD OF MANAGERS OF THE FOUNDATION ARE APPOINTED BY THE HERSHEY TRUST COMPANY, IN ITS CAPACITY AS TRUSTEE, FROM AMONG ITS OWN BOARD OF DIRECTORS. TOGETHER THE TRUSTEE AND BOARD OF MANAGERS SERVE AS THE GOVERNING BODY OF THE FOUNDATION. HERSHEY CEMETERY COMPANY (EIN 23-1973529) IS A PENNSYLVANIA CEMETERY COMPANY THAT IS EXEMPT FROM FEDERAL INCOME TAX PURSUANT TO INTERNAL REVENUE CODE SECTION 501(C)(13). HERSHEY TRUST COMPANY OPERATES THE CEMETERY COMPANY AND IS TRUSTEE OF THE HERSHEY CEMETERY PERPETUAL MAINTENANCE FUND TRUST (EIN: 23-6629638) THAT WAS ESTABLISHED TO PROVIDE FUNDING FOR PERPETUAL MAINTENANCE FOR THE HERSHEY CEMETERY. HERSHEY CEMETERY IS THE FINAL RESTING PLACE OF MILTON AND CATHERINE HERSHEY. THE HERSHEY TRUST COMPANY AND THE HERSHEY CEMETERY COMPANY ARE RELATED TO MILTON HERSHEY SCHOOL AND SCHOOL TRUST. THE WILLIAM E. DEARDEN ALUMNI CAMPUS, INC. (EIN 20-2579678) IS A PENNSYLVANIA NONPROFIT THAT IS EXEMPT FROM FEDERAL INCOME TAX PURSUANT TO INTERNAL REVENUE CODE SECTION 501(C)(3). THE NONPROFIT'S MISSION IS TO PROMOTE AND ENHANCE THE EDUCATION AND GENERAL WELFARE OF THE STUDENTS AND ALUMNI OF THE SCHOOL; TO ACHIEVE CLOSER COOPERATION BETWEEN THE SCHOOL AND ALUMNI, IN THE INTEREST OF THE EDUCATION AND GENERAL WELFARE OF THE STUDENTS AND ALUMNI; TO DEVELOP AMONG TEACHERS, ADMINISTRATION, STUDENTS, ALUMNI AND THE GENERAL PUBLIC SUCH PROGRAMS AND ACTIVITIES AS WILL SECURE FOR ALL STUDENTS AND ALUMNI THE HIGHEST ADVANTAGES IN PHYSICAL, MENTAL AND SOCIAL EDUCATION AND DEVELOPMENT; TO SERVE AS A CLEARING HOUSE FOR THE GATHERING AND DISSEMINATION OF INFORMATION AND KNOW-HOW IN FURTHERANCE OF THE FOREGOING PURPOSES; AND TO SOLICIT AND ACCEPT DONATIONS, GIFTS, GRANTS, LEGACIES AND BEQUESTS TO FURTHER THE FOREGOING PURPOSES. PER ITS GOVERNING INSTRUMENT, SEVERAL OF THE BOARD MEMBERS ARE SELECTED FROM THE OFFICERS OF THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST OR ARE APPOINTED BY THE PRESIDENT OF THE MILTON HERSHEY SCHOOL. SCHEDULE R, PART IV RELATED ORGANIZATIONS TAXABLE AS A CORPORATION OR TRUST THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST HOLDS 29.43 PERCENT OF THE OUTSTANDING COMBINED COMMON AND CLASS B SHARES OF THE HERSHEY COMPANY. EACH SHARE OF THE CLASS B COMMON STOCK ENTITLES ITS HOLDER TO 10 VOTES. THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST HAS 80.65 PERCENT OF ALL VOTES ENTITLED TO BE CAST ON MATTERS REQUIRING THE VOTE OF COMMON STOCK AND CLASS B COMMON STOCK VOTING TOGETHER. COLUMNS (F) AND (G) REFLECT THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST'S 29.43 PERCENT SHARE OF THE HERSHEY COMPANY'S TOTAL INCOME AND END-OF-YEAR ASSETS. COLUMN (H) REFLECTS THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST'S TOTAL COMBINED VOTING POWER. (PERCENTAGES AS OF DECEMBER 31, 2021) SCHEDULE R, PARTS III AND IV, RELATED ORGANIZATIONS TAXED AS A PARTNERSHIP AND RELATED ORGANIZATIONS TAXED AS A CORPORATION OR TRUST. THE MILTON HERSHEY SCHOOL AND SCHOOL TRUSTS INVESTED IN ONE PARTNERSHIP THAT IS AN INVESTMENT ENTITY, IN WHICH THE SCHOOL AND SCHOOL TRUST OWN MORE THAN FIFTY PERCENT. THE MILTON HERSHEY SCHOOL BLK TRUST OWNS SEVERAL PARTNERSHIP INTERESTS, NONE OF WHICH IS MORE THAN FIFTY PERCENT OWNERSHIP. SCHEDULE R, PART V, LINE 2 (ITEM 6) HERSHEY ENTERTAINMENT & RESORTS COMPANY PROVIDED GIANT CENTER TICKETS, PROJECT FELLOWSHIP ACTIVITIES AND OTHER BENEFITS TO MILTON HERSHEY SCHOOL STUDENTS AT NO COST. THE VALUE OF THESE BENEFITS WAS $115,249.