2022-05-16T11:28:18-05:00 2021-06-30 WITHUM SMITH BROWN PC 506 CARNEGIE CENTER STE 400 PRINCETON NJ 085406243 990 2020-07-01 210635004 The Pennington School % J GRAEME MCWHIRTER PENN 6097371838 112 W Delaware Ave Pennington NJ 08534 J GRAEME MCWHIRTER CHIEF FINCL OFFICER 6097376120 2022-05-16 true J GRAEME MCWHIRTER 999009999 Glenn Bellomy P00579162 6095201188 2022-05-16 3 2020 2022-09-23 18:48:47Z J GRAEME MCWHIRTER 112 W Delaware Ave Pennington NJ 08534 40791074 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. 35 34 259 340 47623 46623 2517411 5012724 25738197 26070932 2322335 2074271 434262 219960 31012205 33377887 5785218 6243740 0 0 14824993 15246315 0 0 1356867 9563269 9751271 30173480 31241326 838725 2136561 85751483 95126184 24350669 22976650 61400814 72149534 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 23396506 6243740 26128925 COEDUCATIONAL DAY/BOARDING SCHOOL SERVICING GRADES 6 THROUGH 12. THERE ARE APPROXIMATELY 525 STUDENTS. 23396506 true true false false false false false false false true true false false false true true true false true false false false false false false false false false true true true false false false false false false true true false false true false false false false false false false false true 61 0 true 259 true true true false false false false true true false false false false false false X 35 34 false false false false true true true true true false false true true true true true true true false false X J GRAEME MCWHIRTER 6097371838 112 W DELAWARE AVE PENNINGTON NJ 08534 DR WILLIAM S HAWKEY HEADMASTER 40.0 0.0 X X 409214 0 123925 CHARLIE BROWN DIRECTOR OF ADVANCEMENT 40.0 0.0 X 234809 0 34100 J GRAEME MCWHIRTER CHIEF FINANCIAL OFFICER 40.0 0.0 X 212956 0 16310 CHADWICK BRIDGES DEAN OF STUDENTS 40.0 0.0 X 110073 0 116598 SCOTT PEELER DEAN OF ACADEMIC AFFAIRS 40.0 0.0 X 123550 0 50190 Melissa F Von Stade Director of Advancement 40.0 0.0 X 128282 0 9040 JOANNAH PROCKOP DIRECTOR THE LEARNING CENTER 40.0 0.0 X 119888 0 15054 VERNON H HAMMOND II TRUSTEE 2.0 0.0 X 0 0 0 A LOUIS DENTON ESQ TRUSTEE 2.0 0.0 X 0 0 0 MICHAEL D JINGOLI TRUSTEE 2.0 0.0 X 0 0 0 DENNIS S KEATING TRUSTEE 2.0 0.0 X 0 0 0 REV DR DONALD MEDLEY TRUSTEE 2.0 0.0 X 0 0 0 REV DR DAVID C MERTZ TRUSTEE 2.0 0.0 X 0 0 0 BISHOP JOHN R SCHOL TRUSTEE 2.0 0.0 X 0 0 0 STEVEN M SILBERMAN TRUSTEE 2.0 0.0 X 0 0 0 JORDAN M GRAY TRUSTEE 2.0 0.0 X 0 0 0 PETER J TUCCI ESQ TRUSTEE 6.0 0.0 X 0 0 0 STEPHEN TAN TRUSTEE 2.0 0.0 X 0 0 0 JOHN S BIDDISCOMBE TRUSTEE 2.0 0.0 X 0 0 0 DAVID J LONG III TRUSTEE 2.0 0.0 X 0 0 0 WILLIAM OLDSEY TRUSTEE 2.0 0.0 X 0 0 0 MATTHEW PAULS TRUSTEE 2.0 0.0 X 0 0 0 DR JULIE WULF TRUSTEE 4.0 0.0 X 0 0 0 REV HECTOR BURGOS TRUSTEE 2.0 0.0 X 0 0 0 REV DR VIRGINIA SAMUEL CETUK TRUSTEE 2.0 0.0 X 0 0 0 SOOPAKIJ CHEARAVANONT TRUSTEE 2.0 0.0 X 0 0 0 JUDITH ROSENBERG TRUSTEE 2.0 0.0 X 0 0 0 LISA ESPINOZA TRUSTEE 2.0 0.0 X 0 0 0 JACK GREEN TRUSTEE 2.0 0.0 X 0 0 0 JAE HYEOK HEO TRUSTEE 2.0 0.0 X 0 0 0 CELESTE JACKSON TRUSTEE 2.0 0.0 X 0 0 0 MINSOO KIM TRUSTEE 2.0 0.0 X 0 0 0 JACOB LEVY TRUSTEE 2.0 0.0 X 0 0 0 DAN MAHONY TRUSTEE 2.0 0.0 X 0 0 0 SWATI NAVANI TRUSTEE 2.0 0.0 X 0 0 0 BRENDA MARTINI O'LOUGHLIN TRUSTEE 2.0 0.0 X 0 0 0 JASON RIDINGS TRUSTEE 2.0 0.0 X 0 0 0 KATHERINE Q ROSA TRUSTEE 2.0 0.0 X 0 0 0 ERICH STEGICH TRUSTEE 2.0 0.0 X 0 0 0 CYNTHIA WALLACE TRUSTEE 2.0 0.0 X 0 0 0 JIAN WANG TRUSTEE 2.0 0.0 X 0 0 0 1338772 0 365217 12 false true false SODEXO INC AFFILIATES 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 DINING SERVICES 1260719 ADAMS-BICKEL ASSOCIATES LLC 341 N 10TH AVENUE SUITE 206 ROYERSFORD PA 19468 contractor 439153 PREMIER POOL RENOVATIONS 5185 CAMPUS DR 2020 PLYMOUTH MEETING PA 19462 contractor 367180 COMMERICAL CLEANING CORP 311 N CLINTON AVENUE TRENTON NJ 08638 HOUSEKEEPING SERVICE 317061 JMG MECHANICAL LLC 851 MONMOUTH ROAD CREAM RIDGE NJ 08514 CONTRACTOR 298677 7 2613100 2399624 49092 5012724 TUITION & FEES 611110 26070932 26070932 26070932 1582899 1582899 0 0 176227 19592 156635 0 156635 40218 116417 7852843 7361471 491372 491372 491372 4476 7386 -2910 -2910 0 0 0 0 25575 24738 837 837 OTHER 900099 57993 57993 YEARBOOK ADVERTISING 541800 7405 7405 65398 33377887 26128925 47623 2188615 4300 4300 6239440 6239440 0 0 786412 518288 217850 50274 0 11129692 7568190 2893721 667781 743766 522234 179995 41537 1736937 1181117 451604 104216 849508 577665 220872 50971 0 31105 21152 8087 1866 85800 58344 22308 5148 0 0 167051 167051 1601411 1088960 416366 96085 15322 10419 3984 919 1551685 1055136 403449 93100 160537 109166 41739 9632 0 2627586 1786166 683654 157766 18139 12335 4716 1088 0 45833 31167 11916 2750 459351 459351 0 2782263 2013548 707292 61423 205188 139528 53349 12311 31241326 23396506 6487953 1356867 X 0 0 4840019 9604729 1351621 1020953 42484 75376 0 0 0 0 0 0 119739 99568 506607 181159 62744554 23288095 41261306 39456459 37629707 44687940 0 0 0 0 0 0 0 0 85751483 95126184 2304967 3088186 0 0 4791539 5951163 13833504 13186080 0 0 0 0 3420659 751221 0 0 0 0 24350669 22976650 X 42021151 47576999 19379663 24572535 61400814 72149534 85751483 95126184 X 2136561 8728508 -116349 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 38891186 200988 10581486 1714041 47959619 39983321 981028 -339705 1733458 38891186 39571983 507080 1435236 1530978 39983321 37565076 655351 2830192 1478636 39571983 34636006 397720 3981826 1450476 37565076 0.53210 0.46790 true false 258677 258677 53596445 20236271 33360174 5290124 522659 4767465 3599308 2529165 1070143 39456459 0 0 X 35741474 8728508 38677 8767185 26974289 167051 6236547 6403598 33377887 24992754 158677 158677 24834077 167051 6240198 6407249 31241326 SCHEDULE D, PART X, LINE 2 Income Tax Status The Internal Revenue Service has classified the School as a tax-exempt corporation under Section 501(c)(3) of the Internal Revenue Code. 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). 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, 2021, 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 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, 2021 and through the date of this report there are no on-going audits or unresolved disputes with the various tax authorities that the School files with. As of June 30, 2021, the School had no unrecognized tax benefits. SCHEDULE D, PART XI, LINE 2D COST OF GOODS SOLD............................... 24,738 RENTAL EXPENSES.................................. 6,553 SPECIAL EVENTS EXPENSES.......................... 7,386 ---------------------------------------------------------------- TOTAL............................................ 38,677 SCHEDULE D, PART XII, LINE 2D COST OF GOODS SOLD............................... 24,738 RENTAL EXPENSES.................................. 6,553 SPECIAL EVENTS EXPENSES.......................... 7,386 BAD DEBT EXPENSE.................................. 120,000 ---------------------------------------------------------------- TOTAL............................................ 158,677 SCHEDULE D, PART XII, LINE 4B FINANCIAL AID..................................... 6,239,440 Miscellaneous variance ........................... 758 ------------------------------------------------------------------ Total ............................................ 6,240,198 SCHEDULE D, PART XI, LINE 4B FINANCIAL AID..................................... 6,239,440 Bad debt expenses................................. -3,651 Miscellaneous variance ........................... 758 ------------------------------------------------------------------ Total............................................. 6,236,547 true true true true true true true false false false false false false false false true 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. PART I, LINE 6A: FINANCIAL AID OR ASSISTANCE FROM GOVT AGENCY THE SCHOOL RECEIVED A PAYROLL PROTECTION PROGRAM LOAN UNDER THE CARES ACT THAT IS DISBURSED BY THE SMALL BUSINESS ADMINISTRATION. THE PROCEEDS OF THE PPP LOAN WAS USED FOR PAYROLL COSTS AND OTHER COSTS AS DEFINED IN THE CARES ACT AND THE LOAN WAS FORGIVEN IN FULL ON JUNE 11, 2021 AS THE SCHOOL MET THE QUALIFICATIONS FOR FULL FORGIVENESS. true FINANCIAL AID 157 4826040 FMV SCHOLARSHIPS/TUITION TUITION REMISSION 33 1413400 FMV FACULTY AID SEE EXPLANATION FOR PART I, LINE 2 THERE WERE 157 RECIPIENTS OF FINANCIAL AID AND 33 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 DR WILLIAM S HAWKEY HEADMASTER 389628 0 0 0 19586 0 19950 0 103975 0 533139 0 0 0 J GRAEME MCWHIRTER CHIEF FINANCIAL OFFICER 212870 0 0 0 86 0 14876 0 1434 0 229266 0 0 0 CHARLIE BROWN DIRECTOR OF ADVANCEMENT 234752 0 0 0 57 0 16770 0 17330 0 268909 0 0 0 SCOTT PEELER DEAN OF ACADEMIC AFFAIRS 123464 0 0 0 86 0 7871 0 42319 0 173740 0 0 0 CHADWICK BRIDGES DEAN OF STUDENTS 109987 0 0 0 86 0 8278 0 108320 0 226671 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 SCOTT PEELER $24,930 PART I, LINE 4B - COMPENSATION QUESTIONS WILLIAM HAWKEY WAS PROVIDED A SUPPLEMENTAL PENSION IN 2020-2021. THE COST WAS $19,500. A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 2014-06-17 7500000 CONSTRUCTION/CAPITAL IMPROVEMENTS false false false B PUBLIC FINANCE AUTHORITY 273866124 2017-03-29 1000000 CONSTRUCTION/CAPITAL IMPROVEMENTS false false false A 245000 0 0 0 0 0 0 0 0 0 0 0 2015 false false true true B 397800 0 0 0 0 0 0 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 false false true A false true false false 0 false 0 B false true false false 0 false 0 false A B 20815 tuition remission family scholarship X 4 49092 STOCK QUOTE X GOLD ELITE TREADMILL 1 2500 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 HEADMASTER 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 HEADMASTER. 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...................................... 116,349