2025-05-07T16:32:54-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 150 S WARNER ROAD SUITE 310 KING OF PRUSSIA PA 19406 990 2023-07-01 221493168 THE PINGRY CORPORATION PING 9086475555 131 MARTINSVILLE ROAD BASKING RIDGE NJ 07920 OLAF J WECKESSER CHIEF FINANCIAL & OPERATING OFFICER 9086475555 2025-05-07 1 1 MALLORY GOOD P01704765 2156433900 2025-04-30 2023 2025-03-06 01:10:19Z THE PINGRY SCHOOL OLAF J WECKESSER 131 MARTINSVILLE ROAD BASKING RIDGE NJ 07920 100660847 0 X WWW.PINGRY.ORG X 1861 NJ TO FOSTER A COMMITMENT TO INTELLECTUAL EXPLORATION, INDIVIDUAL GROWTH & SOCIAL RESPONSIBILITY 29 29 584 230 2826 0 3696494 6084177 59314600 64725022 689854 6828224 1164375 1986088 64865323 79623511 6280919 7975539 0 0 39421186 41684226 0 0 3554788 26541317 25932934 72243422 75592699 -7378099 4030812 235206749 247021264 69764322 71933940 165442427 175087324 X SEE SCHEDULE O.THE MISSION OF THE PINGRY SCHOOL IS TO FOSTER IN STUDENTS A LIFELONG COMMITMENT TO INTELLECTUAL EXPLORATION, INDIVIDUAL GROWTH AND SOCIAL RESPONSIBILITY BY INSPIRING AND SUPPORTING THEM TO STRIVE FOR ACADEMIC AND PERSONAL EXCELLENCE WITHIN AN ETHICAL FRAMEWORK THAT PLACES THE HIGHEST VALUE ON HONOR AND RESPECT FOR OTHERS. 0 0 65212472 7975539 64725022 THE PINGRY SCHOOL IS AN EDUCATIONAL INSTITUTION SERVING GRADES K-12 WITH AN ENROLLMENT OF APPROXIMATELY 1,200 STUDENTS. THE SCHOOL PROVIDES NEED BASED FINANCIAL AID TO QUALIFYING APPLICANTS AND TUITION REMISSION TO CHILDREN OF FACULTY AND STAFF WHO ARE ADMITTED STUDENTS. 65212472 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 171 0 1 584 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 29 29 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 AK HI MD MA MI NH NY OR SC WV X OLAF J WECKESSER 9086475555 131 MARTINSVILLE ROAD BASKING RIDGE NJ 07920 LEAR TIMOTHY P HEAD OF SCHOOL 40.00 X 530261 0 261095 WECKESSER OLAF J CHIEF FINANCIAL & OPERATING OFFICER 40.00 X 362348 0 100422 FAHEY DAVID DIR OF INSTITUTIONAL ADVANCEMENT 40.00 X 253496 0 66008 MCARTHUR CYNTHIA L DIRECTOR OF AUXILIARY PROGRAMS 40.00 X 253935 0 69131 BUGLIARI MILLER A SPECIAL ASST TO THE HEAD OF SCHOOL 40.00 X 228232 0 35936 BURKHART BRIAN C DIRECTOR OF TECHNOLOGY 40.00 X 199704 0 37217 COTTINGHAM REID A DIRECTOR OF UPPER SCHOOL 40.00 X 212361 0 19442 SHRANK IAN S CHAIR 8.00 X X 0 0 0 HALIVOPOULOS E LORI VICE CHAIR 8.00 X X 0 0 0 PROCTER KATHARINE WYMAN TREASURER 4.00 X X 0 0 0 LEDERMAN STUART M SECRETARY 4.00 X X 0 0 0 GRANT DENISE M ASSISTANT SECRETARY 4.00 X X 0 0 0 BAIRD III WILLIAM D TRUSTEE 2.00 X 0 0 0 BARTOLI MELISSA TRUSTEE 2.00 X 0 0 0 BECKMEN JANICE C TRUSTEE 2.00 X 0 0 0 BOOKBINDER DOUG TRUSTEE 2.00 X 0 0 0 CHEN JIAYI TRUSTEE 2.00 X 0 0 0 ENG KEVIN D TRUSTEE 2.00 X 0 0 0 GERMAIN LINCOLN TRUSTEE 2.00 X 0 0 0 KALAFER JOSHUA TRUSTEE 2.00 X 0 0 0 KIM ALLEN TRUSTEE 2.00 X 0 0 0 LIPPER STEVEN M TRUSTEE 2.00 X 0 0 0 MANKIW N GREGORY TRUSTEE 2.00 X 0 0 0 MASON CAROLYN TRUSTEE 2.00 X 0 0 0 MORGAN TWINKLE TRUSTEE 2.00 X 0 0 0 MORIARTY MELISSA TRUSTEE 2.00 X 0 0 0 NITABACH MICHAEL TRUSTEE 2.00 X 0 0 0 O'TOOLE MARY MARGARET TRUSTEE 2.00 X 0 0 0 OVERDECK LAURA TRUSTEE 2.00 X 0 0 0 PARK GRACE TRUSTEE 2.00 X 0 0 0 PLOTKIN ADAM J TRUSTEE 2.00 X 0 0 0 REDDY PRASHANTH TRUSTEE 2.00 X 0 0 0 SANTANA MARGARET TRUSTEE 2.00 X 0 0 0 SCHMIDT KEVIN TRUSTEE 2.00 X 0 0 0 THOMAS ANJU TRUSTEE 2.00 X 0 0 0 WILF JONANTHAN Z TRUSTEE 2.00 X 0 0 0 2040337 0 589251 125 0 1 0 SAGE DINING SERVICES 1402 YORK RD LUTHERVILLE MD 21093 STUDENT FOOD SERVICES 2669014 HENDRY CONSTRUCTION SERVICES INC 1160 ROUTE 22 SOUTH SOMERVILLE NJ 08876 CONSTRUCTION SERVICES 1529652 FRANKOSKI CONSTRUCTION COMPANY INC 314 DODD ST EAST ORANGE NJ 07017 CONSTRUCTION SERVICES 1064124 IBS - BUILDING SERVICES CONTRACTORS INC 36-06 43RD AVE LONG ISLAND CITY NY 11101 CLEANING SERVICES 1000416 KENSINGTON BUS COMPANY INC PO BOX 649 LEBANON NJ 08883 TRANSPORTATION SERVICES 838167 29 6084177 1589758 6084177 TUITION AND FEES 611110 59401084 59401084 AUXILIARY SERVICES 611110 5283380 5283380 DRAMA TICKET SALES 611110 21458 21458 YEARBOOK 611110 19100 19100 64725022 2575057 2826 2572231 2016382 591473 1424909 1424909 1424909 24486394 20233227 4253167 4253167 4253167 327833 212636 115197 115197 SOLAR POWER PURCHASE AGREEMENT 900099 63024 63024 382958 382958 445982 79623511 64725022 2826 8811486 7975539 7975539 1168234 1168234 30880621 26232831 2825029 1822761 2240956 1900413 209323 131220 5031972 4373655 356321 301996 2362443 1917869 296837 147737 87773 87773 178076 178076 180000 180000 8179 8179 1685593 71964 1041687 571942 547645 547645 4446096 4353618 74694 17784 93333 93333 289022 289022 6850815 6708318 115094 27403 1335558 1307779 22437 5342 INSTRUCTIONAL 4673573 4673573 STUDENT FOOD SERVICE 2248603 2248603 STUDENT TRANSPORTATION 822973 822973 STUDENT ATHLETICS 752090 752090 1733605 1036580 261755 435270 75592699 65212472 6825439 3554788 1824352 2033229 7237412 9862112 849931 989297 42960622 43174997 172171 238286 405417 274081 158638202 95656127 64401752 62982075 40802411 34000262 68948469 87118583 7604212 6348342 235206749 247021264 6384017 7183890 51455593 54147404 11573429 10364967 351283 237679 69764322 71933940 X 74657645 76543176 90784782 98544148 165442427 175087324 235206749 247021264 X 4030812 5671905 -57820 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 104719257 2114570 11297024 1847156 2093613 114190082 103097327 450496 5064410 1917436 1975540 104719257 120552464 5550302 -19334296 1800874 1870269 103097327 88488581 3682641 31795077 1584334 1829501 120552464 96901905 991960 621398 1539044 8487638 88488581 0.15917 0.33700 0.50383 0 0 6793643 6793643 133788490 80214344 53574146 16617912 14818608 1799304 1438157 623175 814982 62982075 ALTERNATIVE INVESTMENTS 87118583 F 87118583 LEASE LIABILITIES 237679 237679 X 77724851 5671905 -57820 5614085 72110766 180000 7332745 7512745 79623511 68079954 804109 804109 67275845 180000 8136854 8316854 75592699 PART V, LINE 4: THE CORPORATION RECEIVES GIFTS INTENDED TO PRODUCE INCOME IN PERPETUITY FOR THE SCHOOL TO FINANCE FACULTY SUPPORT, FINANCIAL AID, AS WELL AS GENERAL OPERATIONS. THE CORPORATION HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT AND BOARD-DESIGNATED ASSETS THAT ATTEMPT TO 1) PROVIDE A STREAM OF RELATIVELY PREDICTABLE, STABLE AND CONSTANT FUNDING IN SUPPORT OF ANNUAL BUDGETARY NEEDS; AND 2) PRESERVE, IF NOT ENHANCE, THE REAL INFLATION-ADJUSTED PURCHASING POWER OF THE FUND AFTER MANAGMENT EXPENSES AND SPENDING. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE CORPORATION MUST HOLD IN PERPETUITY, FOR DONOR-SPECIFIED PERIODS, AS WELL AS BOARD-DESIGNATED FUNDS. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF TRUSTEES, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER INTENDED TO PRODUCE RESULTS THAT 1) ATTAIN AN AVERAGE ANNUAL NOMINAL TOTAL RETURN (BEFORE INFLATION) THAT IS EQUAL TO OR EXCEEDS ANNUAL SPENDING PLUS FUND MANAGEMENT COSTS OVER ROLLING FIVE-YEAR PERIODS; 2) OUTPERFORM THE FUND'S CUSTOM BENCHMARK; AND 3) BETTER THE MEDIAN RETURN OF A PEER GROUP OF INDEPENDENT SCHOOLS WHILE ASSUMING A MODERATE LEVEL OF INVESTMENT RISK. PART X, LINE 2: THE CORPORATION FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT AS OF JUNE 30, 2024 AND 2023, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE THE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -57,820. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 7,975,539. BAD DEBT EXPENSE NETTED WITH CONTRIBUTIONS ON FINANCIAL STATEMENTS 161,315. RECLASS FACILITY RENTAL DIRECT EXPENSES -591,473. RECLASS COST OF SALES -212,636. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS FACILITY RENTAL DIRECT EXPENSES 591,473. RECLASS COST OF SALES 212,636. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 7,975,539. BAD DEBT EXPENSE NETTED WITH CONTRIBUTIONS ON FINANCIAL STATEMENTS 161,315. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL'S NONDISCRIMINATORY POLICY HAS BEEN PUBLISHED IN PROMOTIONAL MATERIALS AND ON ITS WEBSITE AT WWW.PINGRY.ORG/ABOUT/DIVERSITY-INCLUSION. IN MARCH 2024 THE SCHOOL MOVED ITS NONDISCRIMINATORY POLICY TO ITS HOMEPAGE. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS N/A 54315856 0 0 0 0 0 0 54315856 0 54315856 1 0 1 1 1 0 SCHEDULE F, PART IV: LINE 1 - FORMS 926 ARE BEING FILED AS AN ATTACHMENT TO FORM 990-T. LINE 3 - THE ORGANIZATION'S OWNERSHIP INTEREST DURING THE FISCAL YEAR DOES NOT REQUIRE FILING OF FORM 5471. LINE 4 - THE ORGANIZATION'S ACTIVITY DURING THE FISCAL YEAR DOES NOT REQUIRE FILING OF FORM 8621. LINE 5 - FORMS 8865 ARE BEING FILED AS AN ATTACHMENT TO FORM 990-T. 1 NEED BASED FINANCIAL AID 265 7975539 0 PART I, LINE 2: ALL ASSISTANCE IS PROVIDED AS A SCHOLARSHIP TO PINGRY, NO FUNDS ARE PROVIDED DIRECTLY TO RECIPIENTS AND THEREFORE PROPER ALLOCATION TO INTENDED PURPOSE IS ENSURED. ALL FINANCIAL ASSISTANCE IS AWARDED IN AN OBJECTIVE AND NONDISCRIMINATORY MANNER. X 1 1 X X X X X 0 0 0 0 0 0 0 0 1 1 LEAR TIMOTHY P HEAD OF SCHOOL 467709 0 0 0 62552 0 37545 0 223550 0 791356 0 0 0 WECKESSER OLAF J CHIEF FINANCIAL & OPERATING OFFICER 358723 0 0 0 3625 0 23250 0 77172 0 462770 0 0 0 FAHEY DAVID DIR OF INSTITUTIONAL ADVANCEMENT 233580 0 0 0 19916 0 18693 0 47315 0 319504 0 0 0 MCARTHUR CYNTHIA L DIRECTOR OF AUXILIARY PROGRAMS 174830 0 0 0 79105 0 6420 0 62711 0 323066 0 0 0 BUGLIARI MILLER A SPECIAL ASST TO THE HEAD OF SCHOOL 223357 0 0 0 4875 0 21107 0 14829 0 264168 0 0 0 BURKHART BRIAN C DIRECTOR OF TECHNOLOGY 199704 0 0 0 0 0 17560 0 19657 0 236921 0 0 0 COTTINGHAM REID A DIRECTOR OF UPPER SCHOOL 212361 0 0 0 0 0 19115 0 327 0 231803 0 0 0 PART I, LINE 1A THE HOUSING IS PROVIDED ON CAMPUS, FURNISHED FOR THE CONVENIENCE OF THE EMPLOYER, AND IS A REQUIRED CONDITION OF EMPLOYMENT. AS SUCH, IT IS NOT REPORTED AS TAXABLE COMPENSATION. FOR TIMOTHY P. LEAR, HEAD OF SCHOOL, $60,000 IS INCLUDED IN SCHEDULE J, PART II, COLUMN (D). FOR CYNTHIA L. MCARTHUR, DIRECTOR OF AUXILIARY PROGRAMS, $37,000 IS INCLUDED IN SCHEDULE J, PART II, COLUMN (D). PART I, LINE 8 COMPENSATION FOR TIMOTHY P. LEAR, HEAD OF SCHOOL, IS SUBJECT TO AN INITIAL WRITTEN EMPLOYMENT AGREEMENT FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2025. A PUBLIC FINANCE AUTHORITY SERIES 2015 A & B 273866124 2015-02-17 20500000 SEE PART VI 0 0 0 A 10080963 20500000 12892074 7607926 2016 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 PART I, LINE A, COLUMN F & PART II, LINE 14: DESCRIPTION OF PURPOSE: TO FUND CAMPUS IMPROVEMENTS ($12,892,074) AND TO REFUND 11/1/2012 NJEDA BONDS ($7,607,926). PART IV, LINE 2C, COLUMN A: IN THE OPINION OF BOND COUNSEL, ALL GROSS PROCEEDS OF THE BONDS SUBJECT TO THE ARBITRAGE REBATE REQUIREMENT IMPOSED UNDER IRC SECTION 148(F) HAVE BEEN EXPENDED PRIOR TO THE REBATE COMPUTATION DATE AND NO ARBITRAGE REBATE AMOUNT IS DUE. X 17 1589758 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE FIGURE IN THIS COLUMN REPRESENTS THE NUMBER OF DONORS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE HAS THE POWER TO ACT FOR THE BOARD OF TRUSTEES AND CONSISTS OF THE OFFICERS OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM WITH INFORMATION PROVIDED BY MANAGEMENT AND THEN A DRAFT VERSION OF THE FORM 990 IS PROVIDED TO MANAGEMENT TO PROVIDE TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. AT THAT POINT, THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE DRAFT FORM 990 AND DIRECTS COMMENTS AND RECOMMENDATIONS TO MANAGEMENT. ONCE ALL COMMENTS AND RECOMMENDATIONS HAVE BEEN ADDRESSED AND CHANGES HAVE BEEN MADE, THE FORM 990 IS APPROVED BY THE AUDIT COMMITTEE AND FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF TRUSTEES, HEAD OF SCHOOL, AND CHIEF FINANCIAL OFFICER DISCLOSE POTENTIAL CONFLICTS OF INTEREST ON AN ANNUAL BASIS. THE POTENTIAL CONFLICTS ARE REPORTED TO THE HEAD OF THE COMMITTEE ON TRUSTEES. THE EXECUTIVE COMMITTEE MAKES FINAL DETERMINATION AS TO WHETHER A CONFLICT EXISTS. WHEN A CONFLICT ARISES, THE INDIVIDUAL WILL NOT VOTE ON THE CONTRACT OR TRANSACTION OR EXERT HIS OR HER PERSONAL INFLUENCE WITH RESPECT TO THE MATTER, EITHER AT OR OUTSIDE OF MEETINGS. FORM 990, PART VI, SECTION B, LINE 15A THE HEAD OF SCHOOL'S COMPENSATION IS DETERMINED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES IN CONSULTATION WITH AN INDEPENDENT COMPENSATION CONSULTANT, BASED ON A REVIEW OF THE HEAD OF SCHOOL'S PERFORMANCE AND COMPARABLE BENCHMARKING INFORMATION FROM NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS) AND INDEPENDENT DATA EXCHANGE (INDEX). THE DELIBERATION BY THE EXECUTIVE COMMITTEE AND APPROVAL BY THE BOARD IS DOCUMENTED IN EACH COMMITTEE'S MINUTES. THIS PROCESS WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -57,820.