2023-12-11T13:24:45-06:00 2023-06-30 571157523 APRIO LLP 111 ROCKVILLE PIKE SUITE 600 ROCKVILLE MD 20850 990 2022-07-01 540505939 RANDOLPH-MACON ACADEMY RAND 5406365200 200 ACADEMY DRIVE FRONT ROYAL VA 22630 DAVID C WESLEY PRESIDENT 5406365200 2023-11-27 1 DAVID WESLEY 999009999 0 STACY CULLEN P00974308 3012316200 2023-11-27 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z DAVID C WESLEY 200 ACADEMY DRIVE FRONT ROYAL VA 22630 22933655 0 X WWW.RMA.EDU X 1892 VA RANDOLPH-MACON ACADEMY IS A COLLEGE-PREPARATORY SCHOOL USING MILITARY VALUES TO PREPARE QUALIFIED YOUNG PEOPLE FOR LEADERSHIP ROLES IN THE UNITED STATES AND AROUND THE WORLD. 19 19 165 26 0 0 2683172 7402674 11276984 13954943 513641 -452768 -287363 -302092 14186434 20602757 2838046 3798666 0 0 6871413 8429792 0 0 420250 5701431 6499169 15410890 18727627 -1224456 1875130 36335018 39709276 6199455 6251425 30135563 33457851 RANDOLPH-MACON ACADEMY IS A COLLEGE-PREPARATORY SCHOOL USING MILITARY VALUES TO PREPARE QUALIFIED YOUNG PEOPLE FOR LEADERSHIP ROLES IN THE UNITED STATES AND AROUND THE WORLD. 0 0 14933177 3798666 14255803 ALL PROGRAM SERVICE EXPENSES ARE DIRECTLY RELATED TO ACTIVITIES NECESSARY IN OPERATING A BOARDING EDUCATION INSTITUTION. 14933177 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 17 0 1 165 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DAVID C WESLEY 5406365200 200 ACADEMY DRIVE FRONT ROYAL VA 22630 DAVID WESLEY PRESIDENT 40.00 X 286235 0 29018 SUNG CHU DIR OF ENROLLMENT MGMT 40.00 X 176316 0 0 HARRY AUSTIN CHAIR 1.00 X X 0 0 0 JOHN SIMAR VICE-CHAIR 1.00 X X 0 0 0 LUCY HOOPER TREASURER 1.00 X X 0 0 0 PATTY KEENAN SECRETARY 1.00 X X 0 0 0 BRYAN MOORE EX-OFFICIO 1.00 X X 0 0 0 VICTOR GOMEZ EX-OFFICIO 1.00 X X 0 0 0 VALERIE WILSON EX-OFFICIO 1.00 X X 0 0 0 ERIC ANDERSON INVESTMENT COMMITTEE CHAIR 1.00 X 0 0 0 BILL BERSING BOARD MEMBER 1.00 X 0 0 0 BRIAN BOGART BOARD MEMBER 1.00 X 0 0 0 MARK BROWN BOARD MEMBER 1.00 X 0 0 0 HEATHER GROSSMAN BOARD MEMBER 1.00 X 0 0 0 TESS HEGEDUS STRATEGIC PLANNING AD-HOC COMMITTEE CHAIR 1.00 X 0 0 0 DOUG HUTHWAITE FINANCE AND AUDIT COMMITTEE CHAIR 1.00 X 0 0 0 DAVID LINK BOARD MEMBER 1.00 X 0 0 0 ED MORRIS BOARD MEMBER 1.00 X 0 0 0 ALONZO NEESE III BOARD MEMBER 1.00 X 0 0 0 KATIE TEWELL BOARD MEMBER 1.00 X 0 0 0 462551 0 29018 2 0 1 0 SAGE DINING SERVICES 1402 YORK ROAD LUTHERVILLE MD 21093 DINING SERVICES 1519707 WESTFALL GOLD ACCOUNTING INC PO BOX 81712 ATLANTA GA 30366 FUNDRAISING 295732 SEA ISLAND COMPANY LLC 100 CLOISTER DRIVE SEA ISLAND GA 31561 FUNDRAISING 283013 WELLS FARGO VENDOR FINANCIAL SERVICES L PO BOX 070241 PHILADELPHIA PA 191760241 FINANCIAL SERVICES 175755 4 624706 6777968 204000 7402674 BOARD AND TUITION 611600 13171798 13171798 STUDENT SERVICES 611600 530823 530823 LAUNDRY AND DRY CLEANING 611600 227464 227464 STUDENT FEES 611600 24858 24858 13954943 192535 192535 195382 0 195382 195382 195382 618506 6762 1270571 0 -652065 6762 -645303 -645303 0 624706 829015 -829015 -829015 464586 231312 233274 233274 ROTC SALARY AND OTHER 611600 60236 60236 OUTSIDE GROUP INCOME 900099 24606 24606 FLIGHT CAMP 611600 7350 7350 6075 6075 98267 20602757 14255803 0 -1055720 3798666 3798666 315253 255677 50045 9531 6506071 5276558 1032809 196704 183662 148954 29155 5553 951719 771864 151081 28774 473087 383684 75100 14303 109765 7021 100771 1973 112474 7194 103258 2022 580863 37151 533269 10443 314953 314953 288687 263791 8941 15955 246304 175236 60641 10427 532871 426654 90372 15845 241167 230664 6420 4083 92420 74955 14671 2794 1203208 975827 191003 36378 294568 243937 42531 8100 FOOD 1304171 1304171 REPAIRS AND MAINTENANCE 309279 247630 52452 9197 BAD DEBTS 224054 224054 DUES AND SUBSCRIPTIONS 123795 73457 50338 520590 230086 242336 48168 18727627 14933177 3374200 420250 5370 5206 3337329 3294803 1055531 4450216 57541 104188 103438 18859 272109 316992 386755 410087 41717230 22177954 20103443 19539276 10492903 10919621 520599 650028 36335018 39709276 782163 963985 1681350 1824929 3382232 3191244 353710 271267 6199455 6251425 X 18564799 18947067 11570764 14510784 30135563 33457851 36335018 39709276 X 1875130 1331084 116074 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10378908 192627 777430 541567 -116074 10923472 12557084 110371 -1739870 450857 97820 10378908 10510029 77711 2203710 423566 -189200 12557084 9802165 554426 425964 368976 -96450 10510029 8153548 564927 600947 339842 -822585 9802165 0.12190 0.78070 0.09740 0 0 1689997 1689997 32314226 16145629 16168597 5045696 3975715 1069981 2667311 2056610 610701 19539276 ANNUITIES PAYABLE 101183 LEASE LIABILITIES 170084 271267 X 18023785 1331084 116074 1447158 16576627 4026130 4026130 20602757 14701497 0 14701497 4026130 4026130 18727627 PART V, LINE 4: THE ACADEMY'S ENDOWMENT FUND CONSISTS OF INVESTMENTS, TO BE HELD INDEFINITELY, THE INCOME FROM WHICH IS EXPENDABLE TO SUPPORT SCHOLARSHIPS FOR QUALIFYING STUDENTS AND OTHER SPECIFIED PROGRAMS. PART X, LINE 2: THE ACADEMY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ACADEMY IS SUBJECT TO TAXES ON UNRELATED BUSINESS ACTIVITIES. THE ACADEMY GENERATED NO UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JUNE 30, 2023 AND 2022. THE ACADEMY EVALUATES UNCERTAINTY IN INCOME TAX POSITIONS BASED ON A MORE-LIKELY-THAN-NOT RECOGNITION STANDARD. IF THAT THRESHOLD IS MET, THE TAX POSITION IS THEN MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON ULTIMATE SETTLEMENT. AS OF JUNE 30, 2023 AND 2022, THERE WERE NO ACCRUALS FOR UNCERTAIN TAX POSITIONS. IF APPLICABLE, THE ACADEMY RECORDS INTEREST AND PENALTIES AS A COMPONENT OF INCOME TAX EXPENSE. TAX YEARS FROM JUNE 30, 2021 THROUGH THE CURRENT YEAR REMAIN OPEN FOR EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 116,074. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 3,798,666. LAUNDRY/DRY CLEANING 227,464. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 3,798,666. LAUNDRY/DRY CLEANING 227,464. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 ALL RADIO AND NEWSPAPER ADVERTISING DESCRIBE RANDOLPH-MACON AS NONDISCRIMINATORY. X X X X 0 WESTFALL GOLD ACCOUNTING INC POBOX 81712 ATLANTA GA 30366 FUNDRAISING 0 0 295732 -295732 SEA ISLAND COMPANY LLC 100 CLOISTER DR SEA ISLAND GA 31561 FUNDRAISING 0 0 283013 -283013 WESTFALL SPEAKERS 400 MAIN STREET SUITE 210 FRANKLIN TN 37064 FUNDRAISING 0 0 75687 -75687 654432 -654432 DC MD VA PRESIDENT'S WEEKEND 624706 624706 829015 624706 624706 829015 829015 -829015 1 SCHOLARSHIPS AND FINANCIAL AID 126 3798666 PART I, LINE 2: IN ORDER TO RECEIVE FINANCIAL AID, FAMILIES FILL OUT A FINANCIAL AID APPLICATION AT SSSBYNAIS.ORG. THE WEBSITE LOOKS AT INCOME, EXPENSES, ASSETS, LIABILITIES, AND DETERMINES THE "ESTIMATED FAMILY CONTRIBUTION". BASED UPON THE ESTIMATED FAMILY CONTRIBUTIONS, THE ACADEMY AWARDS FINANCIAL AID. MOST SCHOLARSHIPS ARE AWARDED BASED UPON THE FINANCIAL NEED OF THE APPLICANTS, HOWEVER THERE ARE A FEW SCHOLARSHIPS THAT HAVE SPECIFIC CRITERIA (FOR EXAMPLE, A STUDENT CAN RECEIVE A SCHOLARSHIP IF HE/SHE IS A METHODIST, HIGH FLIGHT STUDENT OR A FALCON SCHOLAR). THE FINANCIAL AID SELECTION COMMITTEE INCLUDES THE ADMISSIONS DIRECTOR, DIRECTOR OF ADMISSIONS AND FINANCIAL AID, DIRECTOR OF DEVELOPMENT AND BUSINESS OFFICER. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 DAVID WESLEY PRESIDENT 266889 0 12590 0 6756 0 20500 0 8518 0 315253 0 0 0 SUNG CHU DIR OF ENROLLMENT MGMT 176316 0 0 0 0 0 0 0 0 0 176316 0 0 0 PART I, LINE 1A AMONG OTHER BENEFITS, THE PRESIDENT RECEIVES HOUSING ALLOWANCE IN LIEU OF CAMPUS HOUSING. X LAND 1 204000 FMV 0 1 0 0 PART I, LINE 30B: THE ORGANIZATION RECEIVED A DONATION OF LAND AND IS REQUIRED TO HOLD THE PROPERTY FOR THREE YEARS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PROVIDED TO THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS OF INTEREST ARE REVIEWED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE CEO'S SALARY IS COMPARED TO EXECUTIVE COMPENSATION SURVEYS AND WITH DATA TAKEN FROM PRIVATE, INDEPENDENT SCHOOLS 990'S ON WWW.GUIDESTAR.COM. THE R-MA BOARD OF TRUSTEES REVIEWS THE COMPARATIVE DATA AND SETS SALARY/BENEFITS OF THE CEO APPROXIMATELY EVERY 2-3 YEARS. SENIOR STAFF SALARIES ARE COMPARED AGAINST NAIS (NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS) SALARY SURVEYS. THESE SURVEYS ARE BASED ON BOTH A NATIONAL AND STATE-BY-STATE BASIS. THE R-MA FINANCIAL/AUDIT COMMITTEE REVIEWS THE DATA AND VIA THE BUDGET PROCESS, THE FULL BOARD OF TRUSTEES APPROVES THE SALARIES AND BENEFITS. FORM 990, PART VI, SECTION C, LINE 19 THE ACADEMY PROVIDES THE DOCUMENTS UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 116,074. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAD NO CHANGES TO ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. RANDOLPH-MACON INTEREST HOLDINGS LLC 200 ACADEMY DRIVE FRONT ROYAL VA 22630 HOLDING COMPANY VA 0 0 RANDOLPH-MACON ACADEMY