2022-05-25T09:35:41-05:00 2021-06-30 540504608 BROWN EDWARDS & COMPANY LLP 1909 FINANCIAL DRIVE HARRISONBURG VA 22801 990 2020-07-01 540880465 ST ANNE'S-BELFIELD INC STAN 4342965106 2132 IVY ROAD CHARLOTTESVILLE VA 22903 SARAH H WOODS CFO/COO 4342965106 2022-05-24 1 SARAH WOODS 999009999 JAMES R FRIES P01320612 5404346736 2022-05-24 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z SARAH H WOODS 2132 IVY ROAD CHARLOTTESVILLE VA 22903 36199915 0 X WWW.STAB.ORG X 1910 VA OUR MISSION AS AN INDEPENDENT SCHOOL IS TO FEED EACH CHILD'S INNATECURIOSITY THROUGH EXCEPTIONAL INNOVATIVE TEACHING AND LEARNING IN ANINTENTIONAL PRESCHOOL THROUGH GRADE 12 COMMUNITY IN WHICH CLOSERELATIONSHIPS PROVIDE A FOUNDATION FOR ACHIEVEMENT AND WHERE EVERYCHILD IS WELL KNOWN. 17 17 318 100 180004 0 3585915 4622360 25822818 25094212 4629399 5766238 296875 56227 34335007 35539037 7656906 6835419 0 0 15248706 16601825 0 0 1403172 9092597 10598944 31998209 34036188 2336798 1502849 122363605 137472686 58635624 55877646 63727981 81595040 X AS AN INDEPENDENT SCHOOL PROVIDING SECONDARY EDUCATION TO A DIVERSESTUDENT BODY, ST. ANNE'S-BELFIELD FOSTERS AN EDUCATION COMMUNITY THATNURTURES THE DEVELOPMENT OF ADVANCED SKILLS, ABILITIES AND KNOWLEDGE,SUPPORTS HIGH PERSONAL ASPIRATION, AND DEVELOPS EXEMPLARY ETHICAL ANDENGAGED CITIZENS WHO POSITIVELY IMPACT THE WORLD. 0 0 23523275 25135410 ST. ANNE'S-BELFIELD SCHOOL IS AN INDEPENDENT SCHOOL THAT EDUCATED APPROXIMATELY 900 STUDENTS, AGE 2 THROUGH GRADE 12, BOTH DAY AND BOARDING. THE CURRICULUM IS DESIGNED TO PREPARE THE NEXT GENERATION OF EXEMPLARY CITIZENS AND VISIONARY LEADERS THROUGH ACADEMIC EXCELLENCE, STUDENT-LED LEARNING, COMMUNITY-BUILDING OPPORTUNITIES, BROAD CO-CURRICULAR OPTIONS IN ATHLETICS, ARTS, CODING AND COMPUTER SCIENCE, LEADERSHIP DEVELOPMENT AND SERVICE. DAY AND BOARDING STUDENTS REPRESENTED 51 ZIP CODES AND 14 COUNTRIES WHO LEARNED ABOUT AND FROM EACH OTHER, CONTRIBUTING TO A GLOBAL EDUCATION AND CREATING AN EXPECTATION OF BELONGING BASED ON SHARED HUMAN DIGNITY. 6835419 6835419 FINANCIAL ASSISTANCE IN THE FORM OF TUITION REDUCTIONS WAS PROVIDED TO MORE 350 STUDENTS, APPROXIMATELY 35% OF THE STUDENT BODY. 30358694 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 72 0 1 318 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X THE ORGANIZATION 4342965106 2132 IVY ROAD CHARLOTTESVILLE VA 22903 KARI COULING TRUSTEE/EXEC CMTE 4.00 X X 0 0 0 CHANGDONG HE TRUSTEE 4.00 X 0 0 0 MICHAEL WOODFOLK TRUSTEE 4.00 X 0 0 0 LUIS ALVAREZ TRUSTEE 4.00 X 0 0 0 NICOLE ROBINSON TRUSTEE 4.00 X 0 0 0 MERRILL WOODRIFF TRUSTEE 4.00 X 0 0 0 MICHAEL PAUSIC TRUSTEE 4.00 X 0 0 0 CHARLES COCKE TRUSTEE 4.00 X 0 0 0 MICHAEL GEISMAR TRUSTEE 4.00 X 0 0 0 ANGELA OAKEY TRUSTEE 4.00 X 0 0 0 JANINE DOZIER TRUSTEE 4.00 X 0 0 0 CLAY THOMSON TRUSTEE 4.00 X 0 0 0 FRANK EDMONDS CHAIR 8.00 X X 0 0 0 KAREN MORAN SECRETARY 4.00 X X 0 0 0 ADRIAN KEEVIL TRUSTEE 4.00 X 0 0 0 THAD JONES VICE CHAIR/TREASURER 8.00 X X 0 0 0 RICHARD BOOTH EMERITUS 4.00 X 0 0 0 DAVID LOURIE HEAD OF SCHOOL 40.00 X 234838 0 68543 DIANE SCHMIDT ASSOC HEAD OF SCHOOL/CFO 40.00 X 71621 0 11904 AUTUMN GRAVES HEAD OF SCHOOL 40.00 X 236038 0 93397 WENDY BARNHART INTERIM CFO/COO 40.00 X 79758 0 42560 WARREN BUFORD ASST HEAD OF SCHOOL-ADVANC 40.00 X 150022 0 52296 BETHANY MILLER ASST HEAD OF SCHOOL-ACADEM 40.00 X 130257 0 24945 PETER QUAGLIAROLI HEAD OF UPPER SCHOOL 40.00 X 117073 0 17507 DEWAYNE ROBINSON ATHLETIC DIRECTOR 40.00 X 120976 0 10610 1140583 0 321762 6 0 1 0 SPIDER MANAGEMENT COMPANY 6802 PARAGON PL STE 205 RICHMOND VA 23230 INVESTMENT MANAGEMENT 757956 1 47806 2882468 1692086 216098 4622360 TUITION 611710 23483693 23483693 BOARDING REVENUE 611710 962460 962460 AFTER SCHOOL CARE 611710 219352 219352 SUMMER PROGRAMS 611710 195020 195020 SERVICE AND APPLICATION FEES 611710 96650 96650 137037 137037 25094212 537889 537889 13855 0 13855 13855 750 13105 5044530 183819 0 0 5044530 183819 5228349 183819 5044530 41276 47806 35537 5739 5739 592425 625341 -32916 -29101 -3815 OTHER RELATED REVENUE 611710 69549 69549 69549 35539037 25135410 180004 5601263 6835419 6835419 630092 63009 315046 252037 12375181 11630860 278489 465832 512714 460948 26549 25217 2136985 1921223 110657 105105 946853 851253 49030 46570 783714 783714 1278462 878241 271184 129037 233531 220906 10521 2104 662752 639473 15526 7753 28512 18162 4028 6322 1581612 1525210 48214 8188 2454847 2398115 34383 22349 229791 219480 5419 4892 COVID EXPENSE 921536 901147 14598 5791 EQUIPMENT AND FURNISHIN 408367 388662 14100 5605 SUPPLIES AND MATERIALS 368365 346170 10751 11444 REPAIRS AND MAINTENANCE 353637 343230 5991 4416 1293818 717186 276122 300510 34036188 30358694 2274322 1403172 15736376 12311842 1940987 1276201 57271 13969 11621 3323 64572 32156 90858 123439 85576731 31280269 54508170 54296462 49745710 69263596 208040 151698 122363605 137472686 1917761 2392370 9692502 12845140 35521138 34093828 5481756 2368506 6022467 4177802 58635624 55877646 X 49462050 65280353 14265931 16314687 63727981 81595040 122363605 137472686 X 1502849 14562580 1801630 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 45697463 52937 17787004 178861 3063374 682683 59612486 49493893 65017 -52689 139704 3185269 483785 45697463 50381142 318183 2483034 145130 3140626 402710 49493893 47004636 3135553 4417807 136833 3447323 592698 50381142 40702278 4067159 5384804 120248 2557663 471694 47004636 0.81800 0.12100 0.06100 0 0 1917197 1917197 71565315 21759954 49805361 4886789 3981708 905081 7207430 5538607 1668823 54296462 INVESTMENTS - PARTNERSHIPS 69263596 F 69263596 INTEREST RATE SWAP LIABILITY 3850474 ANNUITY LIABILITY 212518 FUNDS HELD FOR SCHOOL-RELATED ORGS 114810 4177802 X 44928965 14562580 2446498 17009078 27919887 783731 6835419 7619150 35539037 27061906 644868 644868 26417038 783731 6835419 7619150 34036188 PART V, LINE 4: THE SCHOOL'S ENDOWMENT CONSISTS OF APPROXIMATELY 30 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS ESTABLISHED FOR SCHOLARSHIPS AND OPERATIONAL USES AS WELL AS FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. PART X, LINE 2: THE SCHOOL HAS REVIEWED AND EVALUATED THE RELEVANT TECHNICAL MERITS OF EACH OF ITS TAX POSITIONS IN ACCORDANCE WITH GUIDANCE ESTABLISHED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS OF THE SCHOOL. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SWAP AND SPLIT INTEREST AGREEMENT 1,801,629. COST OF GOODS NETTED AGAINST REVENUE 625,341. RENTAL EXPENSES NETTED AGAINST REVENUE EVENT AND OTHER EXPENSES NETTED AGAINST REVENUE 19,527. ROUNDING 1. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID - TUITION REDUCTIONS 6,710,456. BOARDING AID 124,963. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS NETTED AGAINST REVENUE 625,341. RENTAL EXPENSES NETTED AGAINST REVENUE EVENT EXPENSES NETTED AGAINST REVENUE 19,527. ROUNDING PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID - TUITION REDUCTIONS 6,710,456. BOARDING AID 124,963. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 A STATEMENT OF THE NONDISCRIMANATORY POLICY OF ST. ANNE'S BELFIELD, INC. IS PRINTED ON ALL CATALOGUES, APPLICATIONS, NOTIFICATIONS AND OTHER SIGNIFICANT PUBLICATIONS OF THE SCHOOL. IN ORDER TO ASSIST IN RECRUITING A STUDENT BODY WHICH REFLECTS A BROAD SOCIAL AND ECONOMIC BACKGROUND, ALL SUCH MATERIALS CONTAIN A CLEAR STATEMENT OF THE SCHOOL'S NONDISCRIMINATORY POLICIES AS APPLIED TO ALL ASPECTS OF SCHOOL LIFE. A SPECIAL EMPHASIS IS MADE OF THESE POLICIES IN THE AREAS OF ADMISSIONS AND FINANCIAL AID. AUCTION 89082 47806 41276 212 35325 89082 47806 41276 212 35325 35537 5739 1 TUITION REDUCTIONS-FINANCIAL AID 328 6835419 BOOK VALUE THE SCHOOL PROVIDED NON-CASH FINANCIAL AID TO STUDENTS IN THE FORM OF REDUCED TUITION. X 1 0 X X X 0 1 0 0 0 0 0 0 0 AUTUMN GRAVES HEAD OF SCHOOL 236038 0 0 0 0 0 14550 0 78847 0 329435 0 0 0 DAVID LOURIE HEAD OF SCHOOL 234838 0 0 0 0 0 28764 0 39779 0 303381 0 0 0 WARREN BUFORD ASST HEAD OF SCHOOL-ADVANC 150022 0 0 0 0 0 18860 0 33436 0 202318 0 0 0 BETHANY MILLER ASST HEAD OF SCHOOL-ACADEM 130257 0 0 0 0 0 15186 0 9759 0 155202 0 0 0 A ECONOMIC DEVELOPMENT AUTHORITY OF ALBEMARLE COUNTY VIRGINIA 521297503 2010-12-01 30000000 SEE PART VI 0 0 0 B ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CHARLOTTESVILLE VIRGINIA 541187150 2013-08-01 15000000 SEE PART VI 0 0 0 A 1000000 30000000 30000000 2010 1 0 0 1 B 448391 15000000 240468 14759532 2016 0 0 0 1 A 0 1 1 1 0 0.00010 0.00010 0 0 1 B 0 1 1 1 0 0.00010 0.00010 0 0 1 A 0 0 1 0 1 0 0 0 1 B 0 0 0 1 1 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CHARLOTTESVILLE, DATE THE REBATE COMPUTATION WAS PERFORMED: 12/03/2019 SCHEDULE K, PART I, LINE A, COLUMN (D): THE ECONOMIC DEVELOPMENT AUTHORITY OF ALBEMARLE COUNTY, VIRGINIA'S VARIABLE RATE EDUCATIONAL FACILITIES REVENUE REFUNDING BONDS (ST. ANNE'S BELFIELD, INC.) SERIES 2009 (THE "SERIES 2009 BONDS) WERE ORIGINALLY ISSUED ON AUGUST 11, 2009. ON DECEMBER 1, 2010 (THE "REISSUANCE DATE"), THE SERIES 2009 BONDS WERE DEEMED REISSUED FOR FEDERAL TAX PURPOSES UNDER SECTION 1001 OF THE INTERNAL REVENUE CODE. SCHEDULE K, PART I, LINE A, COLUMN (F): THE PAR AMOUNT OF THE SERIES 2009 BONDS WAS DEEMED SPENT ON THE REISSUANCE DATE TO REFUND THE SERIES 2009 BONDS THAT WERE OUTSTANDING ON THAT DATE. THE SERIES 2009 BONDS WERE ORIGINALLY ISSUED TO CURRENTLY REFUND THE OUTSTANDING PRINCIPAL AMOUNT OF THE ECONOMIC DEVELOPMENT AUTHORITY OF ALBEMARLE COUNTY , VIRGINIA'S VARIABLE RATE EDUCATIONAL FACILITIES REVENUE BONDS (ST. ANNE'S BELFIELD, INC.), SERIES 2008 (THE "SERIES 2008 BONDS"). THE PROCEEDS OF THE SERIES 2008 BONDS WERE USED TO FINANCE CERTAIN CAPITAL IMPROVEMENTS AT ST. ANNES' BELFIELD'S ("THE BORROWER") FACILITIES, PRIMARILY CONSISTING OF THE ACQUISITION, CONSTRUCTION AND EQUIPPING OF A NEW ACADEMIC VILLAGE FOR STUDENTS IN PRE-SCHOOL THROUGH 8TH GRADE AND TO FINANCE COSTS OF ISSUING THE SERIES 2008 BONDS. SCHEDULE K, PART I, LINE B, COLUMN (F): THE PROCEEDS OF THE 2013 SERIES BONDS WERE USED TO FINANCE CERTAIN CAPITAL IMPROVEMENTS AT ST. ANNE'S-BELFIELD, INC. ("THE BORROWER") UPPOER SCHOOL FACILITIES. THE SERIES 2013 BONDS WERE ISSUED AS DRAW-DOWN BONDS: THEREFORE, PART II, COLUMN B WILL NOT REFLECT ANY INVESTMENT EARNINGS ON THE SERIES 2013 BOND PROCEEDS. SCHEDULE K, PART II, COLUMN A, LINE 3: THIS AMOUNT REPRESENTS THE PAR AMOUNT OF THE REISSUED SERIES 2009 BONDS, WHICH WERE DEEMED SPENT ON THE REISSUANCE DATE TO REFUND THE SERIES 2009 BONDS THAT WERE OUTSTANDING ON THAT DATE. SEE NOTE RELATED TO PART I, LINE A, COLUMN (F). SCHEDULE K, PART II, COLUMN A, LINE 11: THIS AMOUNT REPRESENTS THE PAR AMOUNT OF THE REISSUED 2009 BONDS, WHICH WERE DEEMED SPENT ON THE REISSUANCE DATE TO REFUND THE SERIES 2009 BONDS THAT WERE OUTSTANDING ON THAT DATE. SEE NOTE RELATED TO PART I, LINE A. COLUMN (F). X 42 153300 MARKET VALUE ON RECEIPT X COVID SUPPLIES 1 41000 FAIR MARKET VALUE X AUCTION ITEMS 70 20545 COST X SCHOOL SUPPLIES 3 1253 COST 0 1 1 PART I, LINE 32B: THE SCHOOL USES BROKERS TO SELL PUBLICLY TRADED SECURITIES WHEN RECEIVED. FORM 990, PART VI, SECTION B, LINE 11B THE PUBLIC VERSION OF FORM 990 WAS SHARED ELECTRONICALLY WITH ALL BOARD MEMBERS FOR THEIR REVIEW IN ADVANCE OF THE FILING. A FULL COPY OF THE 990 IS AVAILABLE TO TRUSTEES IN THE HEAD OF SCHOOL OFFICE UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, EACH MEMBER OF THE BOARD OF TRUSTEES SIGNS A STATEMENT WHICH AFFIRMS THAT HE/SHE HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, THAT HE/SHE HAS READ AND UNDERSTANDS THE POLICY, THAT HE/SHE AGREES TO COMPLY WITH THE POLICY, AND THAT HE/SHE UNDERSTANDS THAT THE SCHOOL MUST ENGAGE PRIMARILY IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. PERIODIC REVIEWS ARE CONDUCTED TO DETERMINE IF POTENTIAL CONFLICTS OF INTEREST EXIST AND SHOULD BE EVALUATED. THE CONFLICT OF INTEREST POLICY CONTAINS SPECIFIC PROCEDURES TO ADDRESS PROPOSED TRANSACTIONS OR ARRANGEMENTS THAT MIGHT GIVE RISE TO A CONFLICT OF INTEREST AND SPECIFIC PROCEDURES TO ADDRESS POTENTIAL VIOLATIONS OF THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A A COMMITTEE WAS FORMED BY THE BOARD TO PREPARE A LONG-TERM EMPLOYMENT CONTRACT FOR THE HEAD OF THE SCHOOL. THIS COMMITTEE, IN CONSULTATION WITH VARIOUS PROFESSIONALS, DESIGNED THE CONTRACT AND PRESENTED IT TO THE FULL BOARD. THE CONTRACT WAS APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 18 THE SCHOOL'S 1023, 990, AND 990-T ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS CAN BE DISTRIBUTED TO THE PUBLIC UPON REQUEST. HOWEVER, ALL REQUESTS ARE SUBJECT TO THE APPROVAL OF THE HEAD OF SCHOOL AND THE SCHOOL'S CONSIDERATION OF THE INTENDED USE OF THE DOCUMENTS. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SWAP AND SPLIT INTEREST AGREEMENT 1,801,629. ROUNDING 1. REASONABLE CAUSE EXPLANATION FOR LATE FILING: ST. ANNE'S-BELFIELD, INC. (THE "SCHOOL") ACKNOWLEDGES THAT THIS 990 WAS FILED SEVERAL DAYS PAST THE EXTENDED DUE DATE OF THE RETURN. WE HEREBY REQUEST THAT NO PENALTIES BE ASSESSED FOR THIS LATE FILING BASED ON REASONABLE CAUSE. THE SCHOOL HAS EXPERIENCED SIGNIFICANT TURNOVER IN ITS FINANCE DEPARTMENT BOTH DURING AND AFTER THE JUNE 30, 2021 FISCAL YEAR, FOR WHICH THIS RETURN IS FILED. THE SCHOOL LOST ITS CONTROLLER OF MANY YEARS IN DECEMBER 2020 AND WAS NOT ABLE TO FILL THAT POSITION UNTIL JULY 2021. THIS NEW CONTROLLER WAS ABLE TO CATCH UP THE RECORDKEEPING AND CLOSE THE JUNE 30, 2021 BOOKS, BUT THEN LEFT IN FEBRUARY 2022, WHILE THIS RETURN WAS ON EXTENSION. THE SCHOOL THEN HIRED, BUT IMMEDIATELY LOST, ANOTHER CONTROLLER. IN APRIL 2022, THE SCHOOL WAS ABLE TO HIRE AN INTERIM CONTROLLER WHO BEGAN PULLING TOGETHER INFORMATION FOR THE 990 FILING. THE RETURN WAS THEN PREPARED AS QUICKLY AS POSSIBLE, BUT THE NEED FOR DUE DILIGENCE IN REVIEW AND APPROVAL BY THE TRUSTEES MEANT IT WAS UNABLE TO BE FILED BY THE EXTENDED DUE DATE OF MAY 15, 2022. WE BELIEVE THESE CIRCUMSTANCES PROVIDE REASONABLE CAUSE FOR THE LATE FILING OF THE SCHOOL'S 2020 FORM 990 FOR TAX YEAR ENDED JUNE 30, 2021 AND RESPECTFULLY REQUEST THAT NO PENALTIES BE ASSESSED. MAWI PROPERTIES 2132 IVY ROAD CHARLOTTESVILLE VA 22903 REAL ESTATE VA ST ANNE'S-BELFIELD INC