2022-02-16T13:12:19-06:00 2021-06-30 541517420 WALL EINHORN & CHERNITZER PC 150 W MAIN ST SUITE 1200 NORFOLK VA 23510 990 2020-07-01 540806413 NORFOLK COLLEGIATE SCHOOL NORF 7575830919 7336 GRANBY STREET NORFOLK VA 23505 SCOTT KENNEDY PRESIDENT AND HEADMASTER 7575830919 2022-02-02 1 SCOTT KENNEDY 999009999 JOHN M WATERS P01334859 7576254700 2022-02-02 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z SCOTT KENNEDY 7336 GRANBY STREET NORFOLK VA 23505 16282527 0 X WWW.NORFOLKCOLLEGIATE.ORG X 1948 VA TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND. 24 24 179 24 0 0 1328475 2811008 12135021 11850940 421487 161643 74233 140597 13959216 14964188 2409066 2183204 0 0 6843376 5804853 0 0 468126 5072491 4998892 14324933 12986949 -365717 1977239 24518143 25242061 10695076 8868177 13823067 16373884 TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND. 0 0 10878790 2183204 11850940 OPERATION OF A PRIVATE SCHOOL WITH AN APPROXIMATE ENROLLMENT OF 600 STUDENTS. 10878790 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 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 0 0 0 0 0 1 0 0 0 1 13 0 1 179 1 0 0 0 0 0 0 0 0 0 0 0 0 X 24 24 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X X THE ORGANIZATION 7575830919 7336 GRANBY STREET NORFOLK VA 23505 BENJAMIN G COTTRELL V CHAIRMAN 2.00 X X 0 0 0 LANGBOURNE WILLIAMS VICE PRESIDENT 2.00 X X 0 0 0 WILLIAM L TALIAFERRO JR TREASURER 2.00 X X 0 0 0 ALISON CARLSMITH SECRETARY 2.00 X X 0 0 0 DAWN BRAY TRUSTEE 2.00 X 0 0 0 WILLIAM B BROCK TRUSTEE 2.00 X 0 0 0 BRIAN M CLEMENTS TRUSTEE 2.00 X 0 0 0 JEFFREY S CREEKMORE TRUSTEE 2.00 X 0 0 0 PAMELA E CRENSHAW TRUSTEE 2.00 X 0 0 0 KENNETH L EDMOND TRUSTEE 2.00 X 0 0 0 VIRGINIA HITCH TRUSTEE 2.00 X 0 0 0 MARC A HRISKO TRUSTEE 2.00 X 0 0 0 JILL H LAYNE TRUSTEE 2.00 X 0 0 0 THOMAS E MATHAS TRUSTEE 2.00 X 0 0 0 RICHARD P MEREDITH JR TRUSTEE 2.00 X 0 0 0 THOMAS MINTON III TRUSTEE 2.00 X 0 0 0 DR SHARON B REED TRUSTEE 2.00 X 0 0 0 CAPT FRANK A RHODES IV TRUSTEE 2.00 X 0 0 0 KASEY E ROSEN TRUSTEE 2.00 X 0 0 0 JOHN F SAWYER TRUSTEE 2.00 X 0 0 0 ANDREW M SCHAUBACH TRUSTEE 2.00 X 0 0 0 DR ELIZABETH RUTH SMITH TRUSTEE 2.00 X 0 0 0 TRINA S STEWART TRUSTEE 2.00 X 0 0 0 LEVI THOMSON TRUSTEE 2.00 X 0 0 0 SCOTT G KENNEDY PRESIDENT & HEADMASTER 60.00 X 210829 0 25190 210829 0 25190 1 0 1 0 THE BUDD GROUP INC PO BOX 890856 CHARLOTTE NC 28289 BUILDING & MAINTENANCE 646539 FLIK DINING SERVICES 2 INTERNATIONAL DR RYE BROOK NY 10573 FOOD SERVICE 571676 TRANQUEST LLC 994 SCOTT STREET NORFOLK VA 23502 CHARTER BUS SERVICES 101231 3 1165300 1645708 9288 2811008 TUITION 611710 11723233 11723233 AUXILIARY SERVICES 611710 126207 126207 STUDENT ACTIVITIES 611710 1500 1500 11850940 52255 52255 128204 103767 24437 24437 24437 1283945 1174519 38 109426 -38 109388 109388 156175 40015 116160 116160 14964188 11850940 0 302240 2183204 2183204 241279 183090 39425 18764 4876897 3720817 732590 423490 273117 197606 75511 413560 301773 93762 18025 11760 11760 1066429 860062 201988 4379 124115 124115 16015 16015 290940 279003 11937 449 317 132 212600 212600 717717 717717 79486 79486 SCHOLARSHIPS 728664 728664 DINING SERVICES 638011 638011 ATHLETIC DEPARTMENT 137261 137261 LEARNING RESOURCE PROGR 116605 116605 858840 522891 332613 3336 12986949 10878790 1640033 468126 2689619 3089572 175838 362830 248750 588303 123568 32810 48779 40320 23617 150977 31409331 13492620 18571044 17916711 2509268 2949059 127660 111479 24518143 25242061 975443 683124 2385377 2547023 5947220 5446318 215538 191712 1165300 0 6198 0 10695076 8868177 X 11525066 13406372 2298001 2967512 13823067 16373884 24518143 25242061 X 1977239 579492 -5914 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2169407 7179 573450 111158 2638878 3502202 2639 38067 1373501 2169407 4059147 21698 336922 915565 3502202 4177539 7379 241079 460424 4059147 3987309 12310 433698 15965 4177539 0.03180 0.41950 0.54870 0 0 2674688 2674688 26910183 11873750 15036433 1771711 1566338 205373 52749 52532 217 17916711 X 13486584 579492 137868 717360 12769224 11760 2183204 2194964 14964188 10935767 143782 143782 10791985 11760 2183204 2194964 12986949 PART V, LINE 4: ENDOWMENTS ARE MAINTAINED FOR VARIOUS REASONS SUCH AS STUDENT SCHOLARSHIPS, FINANCIAL ASSISTANCE, AND FACULTY SALARIES. THE SCHOOL'S ENDOWMENT CONSISTS OF MULTIPLE INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT INCLUDES DONOR-RESTRICTED ENDOWMENT FUNDS. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT ON NET INCOME DERVIED FROM UNRELATED BUSINESS ACTIVITIES. INTERNAL REVENUE CODE SECTION 513(A) DEFINES AN UNRELATED TRADE OR BUSINESS OF AN EXEMPT ORGANIZATION AS ANY TRADE OR BUSINESS WHICH IS NOT SUBSTANTIALLY RELATED TO THE EXERCISE OR PERFORMANCE OF ITS EXEMPT PURPOSE. CURRENTLY, THE SCHOOL HAS NO OBLIGATION FOR ANY UNRELATED BUSINESS INCOME TAX. THE SCHOOL BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS; HOWEVER, ANY PENALTIES AND INTEREST INCURRED AS A RESULT OF UNCERTAIN TAX POSITIONS WOULD BE RECORDED IN GENERAL AND ADMINISTRATIVE EXPENSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 40,015. RENTAL EXPENSES 103,767. CHANGE IN INTEREST IN NET ASSETS OF RECIPIENT ORGANIZATION -5,914. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,183,204. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 40,015. RENTAL EXPENSES 103,767. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,183,204. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 NEWSPAPER ADVERTISEMENT COLLEGIATE CORNER 17386 17386 14019 AUCTION 64578 64578 5000 3817 6885 2 74211 74211 1301 8993 156175 156175 5000 5118 29897 40015 116160 1 NEED BASED FINANCIAL AID FOR TUITION 227 2183204 PART I, LINE 2: THE SCHOOL HAS A FINANCIAL AID POLICY THAT IS USED TO MONITOR THE USE OF FINANCIAL AID. X X X X 0 0 0 0 0 0 0 0 0 SCOTT G KENNEDY PRESIDENT & HEADMASTER 210829 0 0 0 0 0 0 0 25190 0 236019 0 0 0 A NORFOLK AIRPORT AUTHORITY 2012A 546001465 2012-06-27 3990750 BUILDINGS AND STRUCTURES 0 1 0 B NORFOLK AIRPORT AUTHORITY 2012B 546001465 2012-06-27 1330250 BUILDINGS AND STRUCTURES 0 1 0 C NORFOLK AIRPORT AUTHORITY 2015B 546001465 2015-04-30 592000 TO CONSTRUCT TWO ARTIFICIAL TURF ATHLETIC FIELDS AND INSTALL LIGHTING 0 1 0 D NORFOLK AIRPORT AUTHORITY 2015A 546001465 2015-04-30 2700000 TO CONSTRUCT TWO ARTIFICIAL TURF ATHLETIC FIELDS AND INSTALL LIGHTING 0 1 0 A 1225099 3990750 52313 3938437 0 0 1 1 B 408368 1330250 52312 1277938 0 0 1 1 C 138400 592000 592000 0 0 1 1 D 1394815 2700000 35000 2665000 0 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 A 0 0 0 0 1 0 0 0 0 B 0 0 0 0 1 0 0 0 0 C 0 0 0 0 1 0 0 0 0 D 0 0 0 0 1 0 0 0 0 A 0 B 0 C 0 D 0 FORM 990, PART VI, SECTION A, LINE 6 THE SCHOOL HAD BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THERE IS A COMMITTEE OF TRUSTEES THAT OVERSEES BOARD MEMBERSHIP. THE NEEDS OF THE BOARD/SCHOOL ARE ALWAYS REVIEWED FOR ITEMS SUCH AS GEOGRAPHIC/WORK/GENDER/DIVERSITY. THIS COMMITTEE SOLICITS MEMBERS FROM WITHIN THE COMMUNITY (OTHER BOARD, STAFF). THE COMMITTEE REVIEWS THEIR ATTRIBUTES AS BEING A PART OF THE BOARD. THEY ARE ALSO INTERVIEWED BY THE BOARD CHAIR AND COMMITTEE ON TRUSTEE CHAIR PRIOR TO BEING PRESENTED TO BOARD FOR VOTING APPROVAL. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD NORMALLY WORKS THROUGH A COMMITTEE STRUCTURE WHICH INCLUDES ADVANCEMENT, BUILDING & GROUNDS, FINANCE, STUDENT LIFE, AND GOVERNANCE. INITIALLY MOST ITEMS ARE DISCUSSED AND BROUGHT TO THE COMMITTEE LEVEL FOR BACKGROUND, RESEARCH, AND REVIEW. AREAS THAT REQUIRE APPROVAL ARE VOTED ON BY COMMITTEE, TAKEN TO THE EXECUTIVE COMMITTEE FOR DISCUSSION/VOTE, AND THEN TAKEN TO THE FULL BOARD FOR DISCUSSION/VOTE. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE AUDIT COMMITTEE PRIOR TO ITS FILING. IT IS ALSO AVAILABLE TO THE BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, BOARD MEMBERS ARE REQUIRED TO SUBMIT CONFLICT OF INTEREST STATEMENTS (REFLECTING NONE OR STATED CONFLICTS) TO THE GOVERNANCE COMMITTEE CHAIR. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR ADMINISTRATIVE POSITIONS IS BENCHMARKED USING SEVEN CRITERIA FIELDS OF SALARY BY POSITION FROM NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL AND VIRGINIA ASSOCIATION OF INDEPENDENT SCHOOLS. FOR ADMINISTRATIVE POSITIONS, THE MEDIAN OF THAT DATA IS USED AS A BENCHMARK FOR SALARY DETERMINATION WITHIN THE BUDGET GUIDELINES AND OVERALL STAFF AND FACULTY COST OF LIVING GUIDELINES FOR EACH FISCAL YEAR. HEADMASTER COMPENSATION ALSO USED THE BENCHMARKING CRITERIA AND IS REVIEWED AND SET BY A COMPENSATION COMMITTEE OF BOARD MEMBERS. FORM 990, PART VI, SECTION C, LINE 19 NORFOLK COLLEGIATE SCHOOL PROVIDES AND REVIEWS GOVERNING DOCUMENTS AND ITS CONFLICT OF INTEREST POLICY WITH THE BOARD OF TRUSTEES MEMBERS ANNUALLY. THE ANNUAL FINANCIAL STATEMETNS ARE PRESENTED TO THE BOARD OF TRUSTEES AUDIT COMMITTEE, WHO SUBSEQUENTLY PRESENTS THE FINANCIALS TO THE FINANCE COMMITTEE AND THE EXECUTIVE BOARD OF THE TRUSTEES. THE ANNUAL FINANCIAL STATEMENTS ARE ALSO AVAILABLE FOR REVIEW BY ALL MEMBERS OF THE BOARD OF TRUSTEES UPON PRESENTATION TO THE AFOREMENTIONED COMMITTEES. ALL OF THESE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN INTEREST IN NET ASSETS OF RECIPIENT ORGANIZATION -5,914. FORM 990; PART XII; LINE 2C THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT. THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE YEAR. NC ACORN I 7336 GRANBY ST NORFOLK VA 23505 274477325 REAL ESTATE HOLDINGS VA 0 0 NCS REAL ESTATE HOLDING LLC NC ACORN II 7336 GRANBY ST NORFOLK VA 23505 274477325 REAL ESTATE HOLDINGS VA 0 0 NCS REAL ESTATE HOLDING LLC NC ACORN III 7336 GRANBY ST NORFOLK VA 23505 274477325 REAL ESTATE HOLDINGS VA 0 0 NCS REAL ESTATE HOLDING LLC NC ACORN IV 7336 GRANBY ST NORFOLK VA 23505 274477325 REAL ESTATE HOLDINGS VA 0 0 NCS REAL ESTATE HOLDING LLC NC ACORN V 7336 GRANBY ST NORFOLK VA 23505 274477325 REAL ESTATE HOLDINGS VA 0 0 NCS REAL ESTATE HOLDING LLC NC ACORN VI 7336 GRANBY ST NORFOLK VA 23505 274477325 REAL ESTATE HOLDINGS VA 0 0 NCS REAL ESTATE HOLDING LLC NORFOLK COLLEGIATE EDUCATIONAL FOUNDATION INC 7336 GRANBY STREET NORFOLK VA 23505 541893594 PROVIDE GRANTS TO NORFOLK COLLEGIATE SCHOOL FOR NEED-BASED FINANCIAL AID. VA 501(C)(3) LINE 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0