2025-05-13T12:36:20-05:00 2024-06-30 WITHUM SMITH BROWN PC 506 CARNEGIE CENTER STE 400 PRINCETON NJ 085406243 990 2023-07-01 210635004 The Pennington School % CHRIS DWYER PENN 6097371838 112 W Delaware Ave Pennington NJ 08534 Chris Dwyer CHIEF FINCL OFFICER 6097376120 2025-05-12 true true RICHARD RUVELSON P00234075 6095201188 2023 2025-03-06 01:10:19Z Chris Dwyer 112 W Delaware Ave Pennington NJ 08534 50226526 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. 38 37 329 269 240219 237087 4448364 3179073 29845272 31120376 3058126 2760843 624117 781668 37975879 37841960 7883544 8386149 0 0 17809222 18525733 0 0 1785271 11226922 11778211 36919688 38690093 1056191 -848133 92354430 95641589 21878042 23016311 70476388 72625278 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 28794108 8386149 31478045 COEDUCATIONAL DAY/BOARDING SCHOOL SERVICING GRADES 6 THROUGH 12. THERE ARE APPROXIMATELY 525 STUDENTS. 28794108 true true false false false false false false false true true false false false true true true false true false true false false false false 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 100 0 true 329 true true true false false false false true true false false false false false false X 38 37 false false false false true true true true true false false true true true true true true true false false X CHRIS DWYER 6097376120 112 W DELAWARE AVE PENNINGTON NJ 08534 X WILLIAM STEVENSON HAWKEY HEAD OF SCHOOL 40.0 0.0 X X 505592 0 116826 CHARLES D BROWN Director of Advancement 40.0 0.0 X 273955 0 38849 CHADWICK BRIDGES Associate Head of School 40.0 0.0 X 139744 0 88311 BRENDA RENE COLE Chief Financial Officer 40.0 0.0 X 207767 0 15408 SHARON JARBOE DIRECTOR OF ADMISSION 40.0 0.0 X 152007 0 31954 Christen Elyse Conaway Jones Director of Development 40.0 0.0 X 151691 0 13641 Joannah Prockop Director of the Learning Cente 40.0 0.0 X 130334 0 18309 A Louis Denton Esq Trustee 2.0 0.0 X 0 0 0 Arti Patel Trustee 2.0 0.0 X 0 0 0 Bishop John R Schol Trustee 2.0 0.0 X 0 0 0 Brenda Martini O'loughlin Trustee 2.0 0.0 X 0 0 0 Celeste Jackson Trustee 2.0 0.0 X 0 0 0 Chandra Binky Sanders Trustee 2.0 0.0 X 0 0 0 Dan Mahony Trustee 2.0 0.0 X 0 0 0 David J Long III Trustee 2.0 0.0 X 0 0 0 Dennis S Keating Trustee 2.0 0.0 X 0 0 0 Erich Stegich Trustee 2.0 0.0 X 0 0 0 Geoffrey Cromarty Trustee 2.0 0.0 X 0 0 0 Jack Green Trustee 2.0 0.0 X 0 0 0 Jacob Levy Trustee 2.0 0.0 X 0 0 0 Jae Hyeok Heo Trustee 2.0 0.0 X 0 0 0 Jason Ridings Trustee 2.0 0.0 X 0 0 0 Jian Jim Wang PhD Trustee 2.0 0.0 X 0 0 0 John S Biddiscombe Trustee 2.0 0.0 X 0 0 0 Jordan M Gray Trustee 2.0 0.0 X 0 0 0 Judith Rosenberg Trustee 2.0 0.0 X 0 0 0 Julie Wulf Trustee 2.0 0.0 X 0 0 0 Katherine Q Rosa Trustee 2.0 0.0 X 0 0 0 Lisa Espinoza MD Trustee 2.0 0.0 X 0 0 0 Matthew Pauls Trustee 2.0 0.0 X 0 0 0 Melinda Van Dillen Trustee 2.0 0.0 X 0 0 0 Michael D Jingoli Trustee 2.0 0.0 X 0 0 0 Minsoo Kim Trustee 2.0 0.0 X 0 0 0 Peter J Tucci Esq Trustee 2.0 0.0 X 0 0 0 Rev Dr David C Mertz Trustee 2.0 0.0 X 0 0 0 Rev Dr Donald Medley Trustee 2.0 0.0 X 0 0 0 Rev Dr Virginia Samuel Cetuk Trustee 2.0 0.0 X 0 0 0 Rev Ronell Howard Trustee 2.0 0.0 X 0 0 0 Soopakij Chris Chearavanont Trustee 2.0 0.0 X 0 0 0 Stephen Tan Trustee 2.0 0.0 X 0 0 0 Steven M Silberman Trustee 2.0 0.0 X 0 0 0 Swati Navani Trustee 2.0 0.0 X 0 0 0 Vandana Bhanote Trustee 2.0 0.0 X 0 0 0 William Oldsey Trustee 2.0 0.0 X 0 0 0 1561090 0 323298 19 false true false Culinart Group 6 International Dr RYE BROOK NY 10573 Dining Services 2130483 JMG Mechanical LLC 2026 Houndscroft RD INDIAN TRAIL NC 28079 Contractor 565056 DVP Construction Group 4728 118TH PL SE EVERETT WA 98208 CONTRACTOR 451912 Cleanest Management Services LLC 475 Wall St PRINCETON NJ 08540 Cleaning Service 368868 Camella Contracting LLC 11 Park Ave PENNINGTON NJ 08534 CONTRACTOR 233749 9 9089 3169984 101708 3179073 TUITION & FEES 611110 31120376 31120376 31120376 1849099 1849099 0 0 477164 118793 358371 0 358371 234919 123452 13070510 12158766 911744 911744 911744 0 9089 0 0 0 0 0 167335 107007 60328 60328 MISC SCHOOL INCOME 900099 357669 357669 YEARBOOK ADVERTISING 541800 5300 5300 362969 37841960 31478045 240219 2944623 9870 9870 8376279 8376279 0 0 818344 563184 207317 47843 0 13875887 9435604 3607730 832553 885622 595511 235715 54396 1891979 1286546 491914 113519 1053901 716653 274014 63234 0 53887 36402 14273 3212 49816 33652 13195 2969 0 0 174847 174847 2503764 2503764 30622 20686 8111 1825 2937622 1043391 1575141 319090 119728 80878 31713 7137 0 2126118 1424078 570546 131494 262389 177251 69499 15639 0 123513 83437 32715 7361 324377 324377 0 2718888 1844328 710580 163980 352640 238217 93404 21019 38690093 28794108 8110714 1785271 X 0 0 5452475 5962349 3153446 2499045 107885 194164 0 0 0 0 0 0 103332 90768 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Tax Status The School is a tax-exempt corporation under Section 501(c)(3) 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, 2024 and 2023, 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, 2024 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, 2024 and 2023, 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 4B COST OF GOODS SOLD............................... -107,007 UBIT - RECLASS ENTRIES........................... -27,913 ---------------------------------------------------------------- TOTAL............................................ -134,920 SCHEDULE D, PART XII, LINE 2D COST OF GOODS SOLD............................... 107,007 UBIT - RECLASS ENTRIES........................... 27,913 BAD DEBT EXPENSE.................................. 20,757 ---------------------------------------------------------------- TOTAL............................................ 155,677 SCHEDULE D, PART XI, LINE 2D FINANCIAL AID..................................... 8,376,279 SCHEDULE D, PART XII, LINE 4B FINANCIAL AID..................................... 8,376,279 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. true East Asia and the Pacific 0 0 Fundraising 27544 Europe (Including Iceland and Greenland) 0 0 Program Services Admission 8103 East Asia and the Pacific 0 0 Program Services Admission 7985 0 0 0 0 43632 43632 false false false false false false true FINANCIAL AID 131 7059479 FMV SCHOLARSHIPS/TUITION TUITION REMISSION 28 1316800 FMV FACULTY AID SEE EXPLANATION FOR PART I, LINE 2 THERE WERE 131 RECIPIENTS OF FINANCIAL AID AND 28 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 505592 0 0 0 0 0 23100 0 93726 0 622418 0 0 0 BRENDA RENE COLE Chief Financial Officer 207767 0 0 0 0 0 14525 0 883 0 223175 0 0 0 CHARLES D BROWN Director of Advancement 273955 0 0 0 0 0 19456 0 19393 0 312804 0 0 0 SHARON JARBOE DIRECTOR OF ADMISSION 152007 0 0 0 0 0 11025 0 20929 0 183961 0 0 0 Christen Elyse Conaway Jones Director of Development 151691 0 0 0 0 0 10763 0 2878 0 165332 0 0 0 CHADWICK BRIDGES Associate Head of School 139744 0 0 0 0 0 10535 0 77776 0 228055 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 $ 67,600 Chadwick Bridges $ 48,650 PART I, LINE 4B - COMPENSATION QUESTIONS WILLIAM HAWKEY WAS PROVIDED A SUPPLEMENTAL PENSION IN 2023-2024. THE COST WAS $22,500. A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 2024-06-17 7500000 CONSTRUCTION/CAPITAL IMPROVEMENTS false false false B PUBLIC FINANCE AUTHORITY 273866124 2017-03-29 10000000 CONSTRUCTION/CAPITAL IMPROVEMENTS false false false A 0 0 5035000 0 0 0 0 0 0 0 0 0 2015 false false true true B 0 0 9963333 0 0 0 36667 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 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 4 101708 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..................................... -20,757