2025-06-16T11:51:08-04:00 2024-07-31 PwC US Tax LLP 2001 MARKET ST SUITE 1800 PHILADELPHIA PA 19103 990 2023-08-01 231353340 MILTON HERSHEY SCHOOL AND SCHOOL TRUST % MATTHEW JACOLIK HERSHEY TRU MILT 7175201100 PO BOX 445 HERSHEY PA 17033 CORDEL ROBBIN-COKER VP FINANCE 7175201100 2025-06-16 true true JOANNE KRUEGER P01235586 2673303000 2025-05-07 2023 2025-03-06 01:10:19Z PETER GURT PO BOX 830 HERSHEY PA 17033 5810892725 false X WWW.MHS-PA.ORG X SEE SCH O 1909 PA IN KEEPING WITH MILTON AND CATHERINE HERSHEY'S DEED OF TRUST, MILTON HERSHEY SCHOOL NURTURES AND EDUCATES CHILDREN IN SOCIAL AND FINANCIAL NEED. SEE SCHEDULE O. 14 0 2434 438 13242709 540001 61062 57374 549818 366816 884454285 810935425 3086584 2665019 888151749 814024634 5103468 10485470 0 0 187936466 181500069 0 0 0 175993776 178098097 369033710 370083636 519118039 443940998 24230059234 23436170448 203385121 326642373 24026674113 23109528075 X SEE SCHEDULE O FOR FURTHER DETAILS. false false 279929246 10485470 366816 SEE SCHEDULE O FOR FURTHER DETAILS. 279929246 true true false false false false true false true true true false false false true true false true false true false false false false false false false true true false false false false false false false false false false false false true true true true false false true 205 0 true 2434 true true true false false false false false false false false false false false X 14 0 true false false false false true false true true false false true true true true true true true true false X MATTHEW JACOLIK HERSHEY TRU 7175201100 PO BOX 445 HERSHEY PA 17033 X JAMES BROWN BOARD OF MANAGERS 6.0 3.0 X 0 1901017 63984 PETER G GURT PRESIDENT 50.0 20.0 X 744646 0 144386 LISA RASHID VP - COMMUNICATIONS 48.0 4.0 X 411252 0 66423 ELLIOTT H ROBINSON VP ADMINISTRATION 53.0 10.0 X 375708 0 100086 ANDREW CLARK ESQ VP Legal/Gen Counsel/SECRETARY 55.0 10.0 X 316649 0 81969 FREDA F MARTINE SR VP OF EDU AND STUDENT LIFE 55.0 10.0 X 344414 0 54172 TANYA BAYNHAM VP GRAD PROG FOR SUCC 50.0 0.0 X 322239 0 42143 BETH J SHAW EXEC DIRECTOR- STUDENT SUPPORT 55.0 10.0 X 248571 0 80463 ANNETTE K COLE GILL HEAD-MIDDLE DIVISION 53.0 0.0 X 246915 0 79555 WILLIAM H WEBER III HEAD OF SCHOOL DIVISION 55.0 0.0 X 238867 0 72875 ERIN OSEVALA FIRST DEPUTY GENERAL COUNSEL 42.0 8.0 X 243349 0 61072 M DIANE KOKEN BOARD OF MANAGERS 13.0 5.0 X 0 105000 170000 JAMES KATZMAN BOARD OF MANAGERS 5.0 3.0 X 0 0 275000 STEPHEN VALENTINE SR DIR QUALITY ASSURANCE 47.0 8.0 X 201096 0 71795 JOHN J OSMOLINSKI SR DIR CONSTRUCTION/FAC 50.5 2.0 X 202165 0 65738 JASON SHARP DEPUTY GENERAL COUNSEL 35.0 15.0 X 210223 0 57330 JEFFERY JOHNSON VP HUMAN RESOURCES 52.0 3.0 X 218164 0 49204 MICHAEL BERNARDO SR DIRECTOR IT AS OF 5/23 48.0 2.0 X 195939 0 69471 DENISE L ALSTON DDS DIR DENTAL SERVICES 55.0 0.0 X 210268 0 45314 SEAN MARTIN CONCANNON Deputy General Counsel 35.0 15.0 X 215167 0 33834 JEFFREY C PERALES HEAD ELEMENTARY DIVISION 50.0 0.0 X 178861 0 65024 SOLEIL CARRION DEL TORO VP FIN/SHARED SRVCS AS OF 8/23 55.0 10.0 X 177949 0 57999 NATHANIEL MARTIN HEAD OF SENIOR DIVISION 55.0 0.0 X 172382 0 60488 Maria Kraus Board of Managers 7.0 8.0 X 0 120764 106484 RENEE HOLLOMAN VP OF HR AS OF 6/23 50.0 5.0 X 184655 0 41793 KRISTINA PAE VP OF COMM AND MARKETING 60.0 6.0 X 143772 0 52647 MATTHEW JACOLIK INTERIM TREASURER UNTIL 7/19 41.0 1.0 X 0 158573 36654 CAROL DANZ ASSISTANT SECRETARY 42.0 1.0 X 0 108304 41285 AMY MARSH BOARD OF MANAGERS 8.0 0.0 X 0 146652 0 DAN KATZIR BOARD OF MANAGERS 5.0 0.0 X 0 146652 0 Jason Wolfe Board of Managers 4.0 0.0 X 0 137718 0 DAVID SALTZMAN Board of Managers 3.0 0.0 X 0 136652 0 JAN L BERGEN BOARD OF MANAGERS 4.0 0.0 X 0 136652 0 Melissa L Fullmore Board of Managers 3.0 0.0 X 0 136652 0 Michela English Board of Managers 3.0 0.0 X 0 136652 0 CORDEL ROBBIN-COKER BOARD OF MANAGERS, TREASURER 3.0 0.0 X X 0 136652 0 Michelle M Figlar Board of Managers 3.0 0.0 X 0 136652 0 Harold Singleton Board of Managers 4.0 0.0 X 0 136652 0 HERSHEY TRUST COMPANY TRUSTEE 0.0 0.0 X 1000 0 0 5659479 2126781 2016602 325 true true false HERSHEY TRUST COMPANY PO BOX 445 HERSHEY PA 17033 INVEST & SHARED SRVS 12620107 SODEXO INC AFFILIATES PO BOX 360170 PITTSBURGH PA 152516170 CONSTRUCTION 7524000 CARLTON GEESAMAN BLDG REMODELING 10303 Mountain Road GRANTVILLE PA 17028 CONSTRUCTION 4210819 NRG BUILDING SERVICES INC 48 S Harrisburg St - 2nd Flr HARRISBURG PA 17113 CONSTRUCTION 4002960 DLR GROUP INC 701 8th St NW - Suite 700 WASHINGTON DC 20001 CONSTRUCTION 3048151 167 57374 57374 AG MILK, LIVESTOCK & CROP SALES 900099 332081 332081 UTILITY REBATES 900099 14208 14208 FOOD REBATES 900099 4189 4189 MEMORABILIA SALES TO PUBLIC 900099 2630 2630 ALL OTHER PROGRAM SERVICES 900099 13708 13708 366816 626934995 13198173 613736822 0 0 5613919 0 2948900 0 2665019 0 2665019 44536 2620483 5177450274 469347 4993884487 34704 183565787 434643 184000430 184000430 0 0 0 0 0 0 0 0 0 0 814024634 366816 13242709 800357735 X 0 10485470 10485470 0 0 4612049 2430710 2181339 0 0 117235237 109494111 7741126 0 13596638 12509419 1087219 0 35036221 31544141 3492080 0 11019924 10028131 991793 0 0 5963202 4721108 1242094 0 600177 431496 168681 0 0 0 45211481 0 45211481 0 8238928 8238928 18687519 6798741 11888778 0 3006800 2755680 251120 0 3378744 3176519 202225 0 0 7401880 6380514 1021366 0 2080015 2026395 53620 0 0 523263 441001 82262 0 0 0 38099174 32579023 5520151 0 3218182 2719335 498847 0 CONTRACTED SERVICES 10615186 5776542 4838644 FOOD, CLOTHING & HOUSEHOLD 8930747 8595101 335646 EQUIP RENTAL & MAINTENANCE 6525888 5720829 805059 TRUST EXPENSES 1131371 0 1131371 14485540 13076052 1409488 370083636 279929246 90154390 0 X 6922850 2658683 71629169 286739646 0 0 53316120 229136789 0 0 0 0 0 0 3662278 3696031 3023346 2137273 1497730305 632164791 841357196 865565514 2396271599 3510773622 20853876676 18535462890 0 0 0 0 0 0 24230059234 23436170448 203385121 326642373 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 203385121 326642373 X 2091482384 2391840342 21935191729 20717687733 24026674113 23109528075 24230059234 23436170448 X 443940998 -1286296579 -74790457 X X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X false 21935191729 -1217503995 20717687734 21376390866 558800863 21935191729 19308934061 2067456805 21376390866 15560697333 3748236728 19308934061 15912197460 -351500127 15560697333 1.00000 false true true 66943992 66943992 155598083 1142858926 579459457 718997552 132329304 52705334 79623970 865565514 SEE PART XIII 18535462890 F 18535462890 0 0 X -469730471 -1286296579 2541474 -1283755105 814024634 814024634 367147670 -407426 -407426 367555096 2528540 2528540 370083636 SCHEDULE D, PART III, LINE 1A & 4 MAINTAINING COLLECTIONS OF ART, HISTORICAL TREASURES, OR SIMILAR ASSETS THE ORGANIZATION ELECTED, AS PERMITTED UNDER ASC 958-360-25-1 and 958-605-25-19 (formerly SFAS 116), NOT TO REPORT IN ITS REVENUE STATEMENT AND BALANCE SHEET WORKS OF ART, HISTORICAL TREASURES, OR OTHER SIMILAR ASSETS HELD FOR PUBLIC EXHIBITION, EDUCATION OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE. THE DEPARTMENT OF SCHOOL HISTORY AND THE MHS HERITAGE CENTER AT KINDERHAUS PROVIDE FOR THE CARE AND MANAGEMENT OF THE HISTORICAL ASSETS OF THE MILTON HERSHEY SCHOOL COMMUNITY. THE HISTORICAL ASSETS(COLLECTION) CONSIST OF ARCHIVAL RECORDS AND DOCUMENTS, THREE DIMENSIONAL OBJECTS, INTERPRETIVE EXHIBITS, AND HISTORICAL CAMPUS BUILDINGS WHICH HELP TO DOCUMENT THE LIVES AND VALUES OF MILTON AND CATHERINE HERSHEY AS FOUNDERS OF OUR SCHOOL, THE HISTORY AND TRADITIONS OF THE SCHOOL AS AN INSTITUTION, AND THE STORIES OF THE STUDENTS, STAFF, AND ALUMNI WHO MAKE UP THE SCHOOL COMMUNITY. EXCLUDED FROM THIS MANDATE ARE LEGAL BOARD RECORDS, STUDENT RECORDS, AND ALUMNI RECORDS. SCHEDULE D, PART V, LINE 4 TRUST FUNDS AS MANDATED BY MILTON HERSHEY'S DEED OF TRUST, THE TRUST FUNDS ARE USED TO OPERATE THE MILTON HERSHEY SCHOOL AND MANAGE THE SCHOOL TRUST IN PERPETUITY. THE SCHOOL HAS MADE A POSITIVE DIFFERENCE IN THE LIVES OF ITS STUDENTS FOR OVER 110 YEARS. IN ORDER TO CONTINUE TO CHANGE LIVES FOR THE NEXT 110 YEARS AND BEYOND, THE TRUST FUNDS AND OTHER ASSETS OF THE MILTON HERSHEY SCHOOL TRUST (THE "ASSETS") ARE INVESTED FOR THE LONG TERM. DOING SO HELPS TO ENSURE FUNDS ARE AVAILABLE TO MEET CURRENT AND FUTURE OBLIGATIONS OF MILTON HERSHEY SCHOOL. THE BOARD AND THE TRUSTEE, WITH ASSISTANCE FROM THIRD-PARTY INVESTMENT CONSULTANTS, CONTINUALLY REVIEW THE PERFORMANCE OF THE ASSETS AND INVESTMENT DECISIONS. STRICT INVESTMENT GUIDELINES GOVERN A DISCIPLINED PROCESS FOR ASSET ALLOCATION, MANAGER SELECTION AND REVIEW OF MANAGEMENT FEES. SCHEDULE D, PART X, LINE 2 TAX POSITIONS ARE RECOGNIZED OR DERECOGNIZED BASED ON A "MORE-LIKELY THAN-NOT" THRESHOLD FOR POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST'S ACCOUNTING POLICY FOR EVALUATING UNCERTAIN TAX POSITIONS IS THAT RECOGNIZED INCOME TAX POSITIONS ARE MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN FIFTY PERCENT LIKELY OF BEING REALIZED. THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST DOES NOT BELIEVE THERE ARE ANY UNRECOGNIZED TAX BENEFITS OR LIABILITIES THAT SHOULD BE RECORDED. SCHEDULE D, PART XI, LINE 2D RECONCILIATION OF REVENUE PER AUDITED FIN STMTS WITH REVENUE PER RETURN PROGRAM SERVICE REVENUE (RECLASS) (366,816) RENTAL INCOME (40,610) RENTAL EXPENSES 2,948,900 ____________ 2,541,474 SCHEDULE D, PART XII, LINE 2D RECONCILIATION OF EXPENSES PER AUDITED FIN STMTS WITH EXPENSES PER RETURN RENTAL INCOME (40,610) PROGRAM SERVICE REVENUE (RECLASS) (366,816) ____________ (407,426) SCHEDULE D, PART XII, LINE 4B RECONCILIATION OF EXPENSES PER AUDITED FIN STMTS WITH EXPENSES PER RETURN UNRECOGNIZED PENSION & POST RETIREMENT GAIN (2,528,540) SUPPLEMENTAL INFORMATION FORM 990, PARTS VIII AND IX: DETAIL OF REVENUE PART VIII, STATEMENT OF REVENUE MILTON HERSHEY MILTON HERSHEY TOTAL LINE SCHOOL TRUST SCHOOL 1F CONTRIBUTIONS 57,374 - 57,374 2 PROGRAM SERVICE REV - 366,816 366,816 3 INVESTMENT INCOME 626,934,995 - 626,934,995 6 NET RENTAL INCOME 2,624,409 40,610 2,665,019 7(I) GAIN ON SALE-SECURITIES 183,565,787 - 183,565,787 7(II) GAIN ON SALE-OTHER 71,003 363,640 434,643 11A OTHER INCOME - - - ______________ ________ _____________ 12 TOTAL REVENUE 813,253,568 771,066 814,024,634 PART IX, STATEMENT OF FUNCTIONAL EXPENSES MILTON HERSHEY MILTON HERSHEY TOTAL LINE SCHOOL TRUST SCHOOL 2 GRANTS TO INDIVIDUALS - 10,485,470 10,485,470 5 COMPENSATION OF OFFICERS 1,000 4,611,049 4,612,049 7 OTHER SALARIES & WAGES - 117,235,237 117,235,237 8 PENSION PLAN CONTRIBUTIONS - 13,596,638 13,596,638 9 OTHER EMPLOYEE BENEFITS - 35,036,221 35,036,221 10 PAYROLL TAXES - 11,019,924 11,019,924 11B LEGAL FEES - 5,963,202 5,963,202 11C ACCOUNTING FEES - 600,177 600,177 11F INVEST MGMT FEES 45,211,481 - 45,211,481 11G OTHER FEES FOR SERVICES - 8,238,928 8,238,928 12 ADVERTISING - 18,687,519 18,687,519 13 OFFICE EXPENSES - 3,006,800 3,006,800 14 INFORMATION TECHNOLOGY - 3,378,744 3,378,744 16 OCCUPANCY - 7,401,880 7,401,880 17 TRAVEL - 2,080,015 2,080,015 19 CONFERENCES - 523,263 523,263 22 DEPRECIATION 216,589 37,882,585 38,099,174 23 INSURANCE - 3,218,182 3,218,182 24A CONTRACTED SERV/CONSULTING - 10,615,186 10,615,186 24B FOOD/CLOTHING/HOUSEHOLD - 8,930,747 8,930,747 24C EQUIP RENTAL & MAINTENANCE - 6,525,888 6,525,888 24D TRUST EXPENSES (*) 850,346 281,025 1,131,371 24E ALL OTHER EXPENSES - 14,485,540 14,485,540 ___________ ___________ ____________ 25 TOTAL FUNCTIONAL EXPENSES 46,279,416 323,804,220 370,083,636 (*) TRUST EXPENSES INCLUDE LEGAL, CONSULTING AND OTHER EXPENSES RELATED TO MANAGEMENT OF THE TRUST. SUPPLEMENTAL INFORMATION FORM 990, PART X, LINE 27: UNRESTRICTED NET ASSETS (INCOME FUND) MILTON HERSHEY MILTON HERSHEY TOTAL LINE SCHOOL TRUST SCHOOL 1 CASH ( 585,924) 3,244,357 2,658,433 2 SAVINGS & TEMP INVEST 132,009,473 - 132,009,473 4 ACCOUNTS RECEIVABLE 78,827,143 977,910 79,805,053 8 INVENTORIES FOR SALE/USE - 3,696,031 3,696,031 9 PREPAID EXPENSES 20,476 2,116,797 2,137,273 10A PROPERTY EQPMT(COST) 1,209,646,034 132,329,304 1,341,975,338 10B LESS: ACCUMULATED DEP. (579,459,457) (52,705,334) (632,164,791) 11 INVEST: PUBLICLY TRADED 563,083,338 - 563,083,338 12 INVEST: OTHER 1,098,133,786 - 1,098,133,786 17 LIABILITIES (32,193,399)(167,300,193) (199,493,592) _____________ ____________ _____________ NET UNRESTRICTED ASSETS 2,469,481,470 (77,641,128) 2,391,840,342 OF THE $2,391,840,342 IN NET UNRESTRICTED ASSETS, $1,836,011,563 IS AVAILABLE IN MARKETABLE INVESTMENTS. THE REMAINDER OF THE NET UNRESTRICTED ASSETS IS IN NON-LIQUID REAL ESTATE, INCLUDING CAMPUS BUILDINGS, AND INVESTMENTS. FORM 990, PART X BALANCE SHEET DETAIL PART X, LINE 11 PUBLICLY TRADED SECURITIES US TREASURY BONDS 274,355,513 FMV AGENCY BONDS 206,239,038 FMV CORPORATE BONDS 675,500,178 FMV COMMON STOCKS-OTHER 2,354,678,893 FMV ______________ TOTAL PART X, LINE 11 3,510,773,622 PART X, LINE 12/SCHEDULE D, PART VII CLOSELY HELD EQUITY INTERESTS HERSHEY ENTERTAINMENT & RESORTS 835,600,000 FMV HERSHEY TRUST COMPANY 43,148,541 FMV THE HERSHEY CO - CLASS B SHARES 10,784,780,130 FMV THE HERSHEY CO - COMMON SHARES 408,017,180 FMV _____________ SUB-TOTAL CLOSELY-HELD INTERESTS 12,071,545,851 PART X, LINE 12 (CONTINUED) OTHER STOCK FUNDS - OTHER 2,989,083,428 OTHER BOND FUNDS 1,516,709,226 ALTERNATIVE ASSETS-NON MARKETABLE 1,958,124,385 _______________ SUB-TOTAL OTHER 6,463,917,039 _______________ TOTAL PART X, LINE 12 18,535,462,890 true true true true true true true false false false false false false false false false false true SCHEDULE E, LINE 3 THE MILTON HERSHEY SCHOOL ANNUALLY PUBLISHES ITS NON-DISCRIMINATION POLICY ON THE ORGANIZATION'S WEBSITE WHICH READS AS FOLLOWS: Qualified students are eligible for admission regardless of race, color, national or ethnic origin, ancestry, sex (including sexual orientation/gender identity), religious creed, disability or any other status protected under applicable federal or Pennsylvania law to all the rights, privileges, programs, and activities generally accorded or made available to students at the school. Milton Hershey School does not discriminate on the basis of race, color, national or ethnic origin, ancestry, sex (including sexual orientation/gender identity), religious creed, disability or any other status protected under federal or Pennsylvania law, in the administration of its educational policies, admissions policies, scholarship and loan programs, and athletic and other school-administered programs. Middle East and North Africa 0 0 Investments 8903539 Sub-Saharan Africa 0 0 Investments 51752941 Central America and the Caribbean 0 0 Investments 992502519 East Asia and the Pacific 0 0 Investments 59891497 Europe (Including Iceland and Greenland) 0 0 Investments 262535029 North America 0 0 Investments 138595011 Russia and the Newly Independent States 0 0 Investments 318 South America 0 0 Investments 20813886 0 0 0 0 1534994740 1534994740 true false true true true false true Continuing Education Scholarships 735 10485470 SCHEDULE I, PART I, QUESTION 2 MONITORING THE USE OF GRANT FUNDS THE CONTINUING EDUCATION SCHOLARSHIP (CES) HAS BEEN ESTABLISHED TO PROVIDE POST-SECONDARY SCHOLARSHIP ASSISTANCE TO ELIGIBLE MILTON HERSHEY SCHOOL GRADUATES PURSUING FULL-TIME STUDY IN AN ACCREDITED UNDERGRADUATE PROGRAM WITH THE INTENTION TO EARN A DIPLOMA, CERTIFICATE, OR DEGREE. THE CES EASES - AND OFTEN ELIMINATES - THE BURDEN OF STUDENTS' POST-SECONDARY COSTS BY HELPING TO PAY FOR STANDARD FULL-TIME TUITION, FEES, ROOM AND BOARD, AND POSSIBLY HEALTH INSURANCE NOT COVERED BY AID FROM POSTSECONDARY SCHOOLS. THE CES COVERS COSTS FOR RECENT GRADUATES UP TO $95,000. THESE FUNDS ARE AVAILABLE TO ALUMNI WHO PURSUE THEIR POSTGRADUATE STUDIES WITHIN FIVE YEARS OF GRADUATION. CES STAFF AND RESOURCES ARE DEVOTED TO FOLLOWING UP WITH ALUMNI TO ENSURE THEY HAVE THE SUPPORT THEY NEED AS THEY NAVIGATE THE POSTGRADUATE YEARS. SEVENTY-FIVE PERCENT OF GRADUATES WILL IMMEDIATELY CONTINUE THEIR STUDIES AFTER LEAVING MHS BASED ON A THREE YEAR AVERAGE. THE MILTON HERSHEY SCHOOL, THROUGH CES OFFICE STAFF, UTILIZES A COMBINATION OF THE FOLLOWING DOCUMENTS TO VALIDATE SCHOLARSHIP ELIGIBILITY AND COLLEGE COST & FINANCIAL AID DATA: COLLEGE ACADEMIC TRANSCRIPTS/GRADES, A STANDARDIZED COST AND AID ASSESSMENT FORM THAT IS COMPLETED BY THE INSTITUTION'S FINANCIAL AID OFFICE (RELEASE FORM), COLLEGE BILLS, SIGNED COPIES OF LEASES/RENTAL AGREEMENTS, RECEIPTS, DEGREE COMPLETION EVALUATIONS, AND OTHER DOCUMENTATION AS NEEDED. SCHEDULE I, PART III GRANTS & ASSISTANCE TO INDIVIDUALS IN THE U.S. THE MILTON HERSHEY SCHOOL OFFERS A CONTINUING EDUCATION SCHOLARSHIP PROGRAM WHERE SCHOLARSHIP CREDITS ARE ACCRUED EACH YEAR OF HIGH SCHOOL. THE MAXIMUM AWARD FOR THE GRADUATING CLASS OF 2024 WILL BE $95,000. THE EARNING OF THE SCHOLARSHIP AWARD IS DEPENDENT ON THE STUDENTS' ANNUAL ACADEMIC PERFORMANCE AND CERTAIN OTHER CONDITIONS. UPON INCEPTION OF THIS PROGRAM, CURRENT HIGH SCHOOL STUDENTS WERE AWARDED THE SCHOLARSHIP CREDIT FOR GRADES PREVIOUSLY COMPLETED. STUDENTS WHO HAD GRADUATED IN OR PRIOR TO THE SPRING OF 2004 WERE NOT AFFECTED BY THE NEW POLICY. SIGNIFICANT ASSUMPTIONS IN DETERMINING THE LIABILITY FOR THIS PROGRAM INCLUDE PARTICIPATION AND DISCOUNT RATES. THE EXPENSE RECOGNIZED FOR THE CONTINUING EDUCATION PROGRAMS DESCRIBED ABOVE WAS $10,485,470 AND $5,103,468 DURING THE YEARS ENDED JULY 31, 2024 AND 2023 RESPECTIVELY, AND IS INCLUDED IN CONTINUING EDUCATION PROGRAMS ON THE STATEMENT OF ACTIVITIES OF THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST FINANCIAL STATEMENTS. THE AMOUNT REPORTED COVERS THE 735 STUDENTS CURRENTLY RECEIVING CONTINUING EDUCATION SCHOLARSHIPS AS WELL AS THE 951 STUDENTS EARNING CREDITS TOWARD THEIR FUTURE SCHOLARSHIPS. SCHEDULE I, PART III, COLUMN (C): THE AMOUNT REPORTED IN COLUMN C "AMOUNT OF CASH GRANT" CONSISTS OF $8,139,344 OF CASH GRANTS PAID DURING THE YEAR AND $2,346,126 WHICH REPRESENTS AN INCREASE IN THE TUITION ACCRUAL FOR GRANTS TO BE PAID IN FUTURE YEARS. THE TOTAL OF THESE AMOUNTS IS $10,485,470. X X X X true true X X X X X false false false false false false false false false ELLIOTT H ROBINSON VP ADMINISTRATION 352166 0 0 0 23542 0 49830 0 50256 0 475794 0 0 0 PETER G GURT PRESIDENT 523865 0 215020 0 5761 0 49830 0 94556 0 889032 0 0 0 LISA RASHID VP - COMMUNICATIONS 409555 0 0 0 1697 0 33606 0 32817 0 477675 0 0 0 ANNETTE K COLE GILL HEAD-MIDDLE DIVISION 243391 0 2500 0 1024 0 37868 0 41687 0 326470 0 0 0 BETH J SHAW EXEC DIRECTOR- STUDENT SUPPORT 244489 0 2500 0 1582 0 38058 0 42405 0 329034 0 0 0 ANDREW CLARK ESQ VP Legal/Gen Counsel/SECRETARY 314185 0 0 0 2464 0 39089 0 42880 0 398618 0 0 0 JOHN J OSMOLINSKI SR DIR CONSTRUCTION/FAC 195955 0 2500 0 3710 0 30551 0 35187 0 267903 0 0 0 FREDA F MARTINE SR VP OF EDU AND STUDENT LIFE 339565 0 0 0 4849 0 16495 0 37677 0 398586 0 0 0 WILLIAM H WEBER III HEAD OF SCHOOL DIVISION 236034 0 2500 0 333 0 31889 0 40986 0 311742 0 0 0 M DIANE KOKEN BOARD OF MANAGERS 0 105000 0 0 0 0 0 0 0 0 0 105000 0 0 TANYA BAYNHAM VP GRAD PROG FOR SUCC 321427 0 0 0 812 0 12289 0 29854 0 364382 0 0 0 JAMES BROWN BOARD OF MANAGERS 0 131177 0 0 0 1769840 0 0 0 0 0 1901017 0 0 JAMES KATZMAN BOARD OF MANAGERS 0 0 0 0 0 0 0 0 0 0 0 0 0 0 JEFFERY JOHNSON VP HUMAN RESOURCES 211683 0 0 0 6481 0 25053 0 24151 0 267368 0 0 0 Maria Kraus Board of Managers 0 120764 0 0 0 0 0 0 0 0 0 120764 0 0 DENISE L ALSTON DDS DIR DENTAL SERVICES 207479 0 2500 0 289 0 23591 0 21723 0 255582 0 0 0 MATTHEW JACOLIK INTERIM TREASURER UNTIL 7/19 0 153243 0 5000 0 330 0 0 0 0 0 158573 0 0 ERIN OSEVALA FIRST DEPUTY GENERAL COUNSEL 230642 0 12500 0 207 0 20160 0 40912 0 304421 0 0 0 SEAN MARTIN CONCANNON Deputy General Counsel 212208 0 2500 0 459 0 17477 0 16357 0 249001 0 0 0 JEFFREY C PERALES HEAD ELEMENTARY DIVISION 176125 0 2500 0 236 0 24014 0 41010 0 243885 0 0 0 JASON SHARP DEPUTY GENERAL COUNSEL 207264 0 2500 0 459 0 16172 0 41158 0 267553 0 0 0 STEPHEN VALENTINE SR DIR QUALITY ASSURANCE 188200 0 12500 0 396 0 31464 0 40331 0 272891 0 0 0 MICHAEL BERNARDO SR DIRECTOR IT AS OF 5/23 192692 0 2500 0 747 0 30388 0 39083 0 265410 0 0 0 RENEE HOLLOMAN VP OF HR AS OF 6/23 133429 0 50000 0 1226 0 15338 0 26455 0 226448 0 0 0 SOLEIL CARRION DEL TORO VP FIN/SHARED SRVCS AS OF 8/23 170136 0 7500 0 313 0 16610 0 41389 0 235948 0 0 0 NATHANIEL MARTIN HEAD OF SENIOR DIVISION 169657 0 2500 0 225 0 19652 0 40836 0 232870 0 0 0 KRISTINA PAE VP OF COMM AND MARKETING 141165 0 2500 0 107 0 12189 0 40458 0 196419 0 0 0 SCHEDULE J, PART I, LINE 1A TRAVEL FOR COMPANIONS SPOUSE/DEPENDENT TRAVEL: SPOUSES AND CHILDREN OF BOARD MEMBERS MAY BE INVITED TO ATTEND GRADUATION AND THE ANNUAL BOARD RETREAT AT THE DISCRETION OF THE SCHOOL OR TRUST COMPANY. IF A SPOUSE OR DEPENDENT ACCOMPANIES A BOARD MANAGER/DIRECTOR TO THE ANNUAL RETREAT, ALL CHARGES RELATED TO THE SPOUSE OR CHILD ARE THE RESPONSIBILITY OF THE MANAGER/DIRECTOR. IF A SPOUSE OR DEPENDENT ATTENDS GRADUATION WEEKEND EVENTS, THE COST OF MEALS, LODGING AND TRAVEL WILL BE PAID BY THE TRUST COMPANY AND REPORTED AS TAXABLE INCOME TO THE MANAGER/DIRECTOR. ORDINARILY, TRUST COMPANY STAFF WILL MAKE ALL TRAVEL AND LODGING ARRANGEMENTS. REIMBURSEMENT WILL ONLY BE MADE FOR THE COST OF COACH AIRFARE. ALL REQUESTS FOR EXPENSE REIMBURSEMENT MUST BE ACCOMPANIED BY ORIGINAL RECEIPTS AND MUST BE SUBMITTED WITHIN 60 DAYS OF THE DATE ON WHICH THE EXPENSES WERE INCURRED. ADEQUATE DESCRIPTIONS INCLUDING THE DATE, PURPOSE, AND INDIVIDUALS ENTERTAINED MUST ALSO BE INCLUDED. SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE THE PRESIDENT OF MILTON HERSHEY SCHOOL IS PROVIDED WITH A RESIDENCE ON CAMPUS FOR BOTH PUBLIC AND PERSONAL USE. THE PRESIDENT'S EMPLOYMENT CONTRACT INCLUDES PROVISIONS WHICH REQUIRE HOSTING BOTH INTERNAL AND EXTERNAL EVENTS ON BEHALF OF THE SCHOOL AT THE PROVIDED HOME. THE VALUE OF THESE BENEFITS (FAIR MARKET VALUE OF RENTAL) PLUS OPERATING COSTS ARE NONTAXABLE BENEFITS. SCHEDULE J, PART I, LINE 1A HEALTH CLUB DUES ALL EMPLOYEES OF THE MILTON HERSHEY SCHOOL ARE ELIGIBLE FOR REIMBURSEMENT OF HEALTH CLUB DUES NOT TO EXCEED $240 PER ANNUM FOR A SINGLE MEMBERSHIP AND $360 FOR A FAMILY MEMBERSHIP. SCHEDULE J REPORTABLE COMPENSATION MR. AND MRS. HERSHEY ORGANIZED THE MILTON HERSHEY SCHOOL ("THE SCHOOL") IN THE FORM OF A TRUST ("SCHOOL TRUST") CREATED UNDER AN ORIGINAL 1909 DEED OF TRUST THAT, AS AMENDED, STILL GOVERNS THE OPERATION OF THE SCHOOL. THE DEED OF TRUST SETS FORTH THE RESPECTIVE POWERS AND AUTHORITIES OF THE TRUSTEE AND MANAGERS OF THE SCHOOL, NAMES THE HERSHEY TRUST COMPANY, A STATE-CHARTERED TRUST COMPANY, AS TRUSTEE FOR COMPENSATION OF NO MORE THAN $1,000 PER YEAR AND PROVIDES FOR THE TRUSTEE TO APPOINT THE INDIVIDUAL MANAGERS OF THE SCHOOL FROM ITS OWN BOARD OF DIRECTORS. THE MANAGERS SUBSEQUENTLY INCORPORATED. THAT CORPORATION, ACTING AS MANAGER UNDER THE DEED OF TRUST, TOGETHER WITH THE SCHOOL TRUST ARE THE COMPONENTS OF THE INTEGRATED TAX-EXEMPT ORGANIZATION, THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST (EIN: 23-1353340). MR. HERSHEY CREATED THE SAME STRUCTURE FOR HIS OTHER CHARITY, THE M.S. HERSHEY FOUNDATION (EIN: 23-6242734). AS A RESULT OF THE STRUCTURE CREATED BY MR. HERSHEY, HERSHEY TRUST COMPANY: (A) SERVES AS TRUSTEE FOR THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST AND (B) SERVES AS TRUSTEE FOR THE M.S. HERSHEY FOUNDATION TRUST. THE COMPENSATION OF BOARD MEMBERS SERVING ON THE BOARDS OF ANY OF THE RELATED FOR-PROFIT ENTITIES (HERSHEY TRUST COMPANY, HERSHEY ENTERTAINMENT & RESORTS COMPANY, AND THE HERSHEY COMPANY) IS COMMENSURATE WITH THEIR RESPONSIBILITIES WITH RESPECT TO THE RELEVANT FOR-PROFIT ENTITY. THE FOLLOWING INFORMATION DETAILS THE COMPENSATION ARRANGEMENTS OF THE BOARD OF MANAGERS WHO ARE COMPENSATED BY RELATED FOR-PROFIT ENTITIES. (SCHEDULE J, PART II, LINE (II)) NONE OF THE COMPENSATION WAS PAID DIRECTLY BY MILTON HERSHEY SCHOOL AND SCHOOL TRUST (EIN 23-1353340). (SCHEDULE J, PART II, LINE (I)). JAN L. BERGEN MS. BERGEN JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN APRIL 2017. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, HERSHEY TRUST COMPANY (EIN 23-069215). JAMES BROWN, ESQ. MR. BROWN JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN FEBRUARY 2016. MR. BROWN JOINED THE HERSHEY COMPANY BOARD ON MAY 3, 2017 UNTIL MAY 2023. COMPENSATION REPORTED CONSISTS OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANIES, THE HERSHEY COMPANY (EIN 23-0691590) AND HERSHEY TRUST COMPANY (EIN 23-069215). MICHELA ENGLISH MS. ENGLISH JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN JANUARY 2018. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, HERSHEY TRUST COMPANY (EIN 23-069215). MELISSA L. FULLMORE MS. FULLMORE JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN APRIL 2017. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, HERSHEY TRUST COMPANY (EIN 23-069215). DAN KATZIR MR. KATZIR JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN JANUARY 2019. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, HERSHEY TRUST COMPANY (EIN 23-0692150). JAMES KATZMAN MR. KATZMAN JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN APRIL 2017 AND THE BOARD OF THE HERSHEY COMPANY IN MAY 2018. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, THE HERSHEY COMPANY (EIN 23-0691590). M. DIANE KOKEN MS. KOKEN JOINED THE HERSHEY COMPANY BOARD ON MAY 3, 2017. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, THE HERSHEY COMPANY (EIN 23-0691590). MARIA KRAUS MS. KRAUS JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN JANUARY 2018. MS. KRAUS JOINED THE BOARD OF THE M.S. HERSHEY FOUNDATION IN APRIL 2018. MS. KRAUS JOINED THE HERSHEY COMPANY BOARD IN MAY 2023. COMPENSATION REPORTED CONSISTS OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANIES, HERSHEY TRUST COMPANY (EIN 23-0691590) AND THE HERSHEY COMPANY (EIN 23-0691590). AMY MARSH MS. MARSH JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN JANUARY 2019. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, HERSHEY TRUST COMPANY (EIN 23-0692150). CORDEL ROBBIN-COKER MR. ROBBIN-COKER JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN JANUARY 2019. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, HERSHEY TRUST COMPANY (EIN 23-0692150). MR. ROBBIN-COKER WAS ELECTED AS TREASURER FOR MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN SEPTEMBER 2020. HE DOES NOT RECEIVE ANY COMPENSATION FOR THIS OFFICER POSITION. DAVID SALTZMAN MR. SALTZMAN JOINED THE BOARDS OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY IN DECEMBER 2014. COMPENSATION REPORTED CONSISTS ONLY OF DIRECTOR FEES RECEIVED FROM THE RELATED FOR-PROFIT COMPANY, HERSHEY TRUST COMPANY (EIN 23-0692150). THE FOLLOWING INFORMATION DETAILS THE COMPENSATION ARRANGEMENTS OF CERTAIN OFFICERS AND KEY EMPLOYEES OF THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST. THEY ARE COMPENSATED BY RELATED FOR-PROFIT ENTITIES. THEIR COMPENSATION IS ESTABLISHED BASED UPON DATA PROVIDED BY INDEPENDENT COMPENSATION CONSULTANTS. THIS PROCESS IS BASED ON POSITION COMPARABLES TAKING INTO ACCOUNT RESPONSIBILITIES AND DUTIES, AUTHORITY, AND OBJECTIVES. NONE OF THEIR COMPENSATION, EMPLOYEE BENEFIT CONTRIBUTIONS, OR NON-TAXABLE BENEFITS WAS PAID DIRECTLY BY THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST DURING THE REPORTING PERIOD. CAROL DANZ MS. DANZ WAS APPOINTED ASSISTANT SECRETARY OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY (EIN: 23-0692150) IN JULY 2019. SHE ALSO SERVES AS MANAGER OF LEGAL AFFAIRS OF HERSHEY TRUST COMPANY. A PORTION OF HER 2023 COMPENSATION AND BENEFITS REPORTED BY HERSHEY TRUST COMPANY WAS REIMBURSED BY MILTON HERSHEY SCHOOL. MATTHEW JACOLIK MR. JACOLIK WAS APPOINTED INTERIM TREASURER OF MILTON HERSHEY SCHOOL AND HERSHEY TRUST COMPANY (EIN: 23-0692150) FROM APRIL 2019 TO JULY 2019. HE ALSO SERVES AS CONTROLLER OF HERSHEY TRUST COMPANY. NONE OF HIS COMPENSATION, EMPLOYEE BENEFIT CONTRIBUTIONS, OR NON-TAXABLE BENEFITS WAS PAID BY MILTON HERSHEY SCHOOL AND SCHOOL TRUST. HERSHEY TRUST COMPANY HERSHEY TRUST COMPANY, TRUSTEE, IS PAID $1,000 ANNUALLY FOR ITS SERVICES AS STIPULATED IN THE DEED OF TRUST. THE TRUSTEE'S ACTUAL TIME SPENT PER WEEK ON MILTON HERSHEY SCHOOL AND SCHOOL TRUST MATTERS WOULD BE AN ACCUMULATION OF THE OFFICER AND STAFF TIME. EACH OFFICER'S INDIVIDUAL TIME IS DETAILED ON PART VII AND SCHEDULE J. SCHEDULE J HOURS SPENT ON RELATED ORGANIZATIONS THE FOLLOWING INDICATES MILTON HERSHEY SCHOOL AND SCHOOL TRUST MANAGERS, OFFICERS AND KEY EMPLOYEES WHO ARE ALSO DIRECTORS, OFFICERS, OR KEY EMPLOYEES OF RELATED ORGANIZATIONS AND THE HOURS SPENT PER WEEK ON DUTIES FOR THESE RELATED ORGANIZATIONS DURING CALENDAR YEAR 2023. HERSHEY COMPANY HOURS ARE PRORATED BASED ON TIME OF SERVICE AS A HERSHEY COMPANY BOARD MEMBER: HERSHEY HERSHEY M.S. HERSHEY HERSHEY ENTERTAINMENT COMPANY FOUNDATION TRUST & RESORTS COMPANY COMPANY JAN BERGEN 0 0 0 FOOTNOTE 1 JAMES BROWN 0 2.0 1.0 FOOTNOTE 1 MICHAELA ENGLISH 0 0 0 FOOTNOTE 1 MICHELLE FIGLAR 0 0 0 FOOTNOTE 1 MELISSA FULLMORE 0 0 0 FOOTNOTE 1 DAN KATZIR 0 0 0 FOOTNOTE 1 JAMES KATZMAN 0 3.0 0 F FORM 990, PART I, LINE 1 AND FORM 990, PART III, LINE 1 MILTON HERSHEY SCHOOL AND SCHOOL TRUST MISSION IN 1909, THE FAMOUS CHOCOLATIER MILTON S. HERSHEY AND HIS WIFE, CATHERINE, ESTABLISHED A HOME AND SCHOOL TO CARE FOR CHILDREN IN NEED. TODAY, MORE THAN 115 YEARS LATER, MILTON HERSHEY SCHOOL (MHS) ENDURES AS A TESTAMENT TO THEIR LEGACY, AND OUR STUDENTS STAND AS A LIVING MONUMENT TO THEIR PHILANTHROPIC SPIRIT. MHS is one of the world's best private schools. Qualifying students in pre-K through 12th grade live on campus and receive an exceptional educational experience-all costs are covered. THE 2023-24 SCHOOL YEAR BROUGHT A HEIGHTENED FOCUS TO OUR FOUNDERS' INTENT AND VISION FOR THEIR HOME AND SCHOOL. WITH MR. AND MRS. HERSHEY'S MISSION AS A GUIDE, MEMBERS OF THE MILTON HERSHEY SCHOOL COMMUNITY SHATTERED REAL AND PERCEIVED BARRIERS AND BECAME THE VERY BEST VERSIONS OF THEMSELVES, JUST LIKE THE SCHOOL-YEAR THEME-BREAKTHROUGH-MOTIVATED THEM TO DO. THE START OF THE 2024-25 SCHOOL YEAR CHALLENGED STUDENTS AND STAFF TO RAISE THE BAR BY ELEVATING STANDARDS AND EXPECTATIONS OF STUDENT BEHAVIOR. BY DEVELOPING THE MILTON HERSHEY WAY, MHS GAVE STUDENTS A ROADMAP FOR SUCCESS. DEFINED, THE MILTON HERSHEY WAY IS THE CONTINUOUS PURSUIT OF EXCELLENCE THROUGH MUTUAL RESPECT AND WORK ETHIC TO PREPARE STUDENTS FOR CAREER AND LIFE SUCCESS. THE work MHS IS DOING is rooted in THE SCHOOL'S Deed of Trust and amplified by ITS 2020-2025 strategic plan, the MILT Plan. This forward-focused approach includes goals to help students overcome the barriers that poverty has placed in their lives through an emphasis on transformative education, a service-centered culture, and individualized career-readiness training. 2024 MARKED THE COMPLETION OF THE FOURTH YEAR OF THE 2020-2025 STRATEGIC PLAN AND THE START OF THE FINAL YEAR. IN KEEPING WITH ITS GROWTH MINDSET, MHS ACHIEVED PEAK ENROLLMENT OF 2,110 IN EARLY 2024. THE SCHOOL GRADUATED 193 SENIORS-BRINGING THE TOTAL NUMBER OF MHS ALUMNI TO 11,848. MHS EXPANDED CAREER-FOCUSED EDUCATION OPPORTUNITIES AND GREW ITS CONNECTIONS WITH COMMUNITY PARTNERS AND HERSHEY ENTITIES-COMPANIES ALSO FOUNDED BY MR. HERSHEY. IN BRINGING THE MILT PLAN TO LIFE, CATHERINE HERSHEY SCHOOLS FOR EARLY LEARNING (CHS)-A SUBSIDIARY OF MHS-CELEBRATED ITS FIRST "MOVING ON" CELEBRATION AT CHS HERSHEY, COMPLETED CONSTRUCTION ON CHS HARRISBURG, AND WELCOMED ITS FIRST 150 STUDENTS IN PENNSYLVANIA'S CAPITAL CITY. CHS BROKE GROUND ON ITS LOCATION IN MIDDLETOWN (ANTICIPATED TO OPEN IN 2025), BEGAN CONSTRUCTION ON CHS NEW DANVILLE, AND STARTED CONSTRUCTION PLANNING ON CHS ELIZABETHTOWN. EACH CENTER WILL SERVE 150 CHILDREN FROM SIX WEEKS TO 5 YEARS OLD-WITH ALL COSTS COVERED-AND EACH LOCATION WILL INCLUDE A FAMILY SUCCESS CENTER TO SUPPORT A TWO-GENERATIONAL APPROACH TO LONG-TERM ACHIEVEMENT. DIFFERENT FROM CHS, STUDENTS AT MHS LIVE ON CAMPUS AS PART OF THE HOME LIFE RESIDENTIAL PROGRAM. EACH STUDENT HAS A SAFE AND SUPPORTIVE ENVIRONMENT TO CALL HOME UNDER THE WATCHFUL CARE, SUPERVISION, AND SUPPORT OF A MARRIED HOUSEPARENT COUPLE. THESE EXPERIENCED AND TRAINED ADULTS CARE FOR eight-12 STUDENTS OF SIMILAR AGES AND THE SAME GENDER IN ONE OF 208 STUDENT HOMES ACROSS CAMPUS. WHEN STUDENTS REACH THEIR SENIOR YEAR, THEY PARTICIPATE IN THE TRANSITIONAL LIVING PROGRAM, WHICH PREPARES THEM FOR LIFE AFTER GRADUATION. Seniors live in one of 10 apartment-style residences on campus under the guidance and supervision of full-time ADULT, LIVE-IN staff. THIS COLLEGE/DORMITORY LIFESTYLE AND THE ACCOMPANYING RESPONSIBILITIES HELP BUILD STUDENTS' CONFIDENCE IN LIVING INDEPENDENTLY AND FACING OTHER CHALLENGES THEY MAY ENCOUNTER AFTER HIGH SCHOOL. STUDENTS LEARN SKILLS FROM PERSONAL FINANCE AND SAFETY TO HEALTHY SLEEPING AND EATING HABITS IN THE TRANSITIONAL LIVING CURRICULUM. At MHS, THE approach to care is centered around the idea that children must first have their essential needs met before they can focus on and succeed at anything else. as part OF the School's ONGOING wraparound services and resources, students not only receive high-quality learning experiences and development opportunities, BUT also personalized medical and behavioral care, as well as dental and vision services, food, clothing, and a nurturing home life. BECAUSE MHS SERVES LOW-INCOME STUDENTS, MOST OBSTACLES STUDENTS FACE STEM FROM POVERTY-RELATED ISSUES. poverty makes them more likely to be impacted by a variety of Adverse Childhood Experiences (ACEs)-traumatic events children experience before the age of 18. IN THE 2023-24 SCHOOL YEAR, NEARLY half of new students enrolled experienced MENTAL HEALTH ISSUES IN THEIR FAMILY, THIRTY-EIGHT PERCENT HAD A FAMILY MEMBER INCARCERATED, THIRTY-SEVEN PERCENT EXPERIENCED FAMILY DRUG OR ALCOHOL ISSUES, AND NEARLY A QUARTER WITNESSED DOMESTIC VIOLENCE AND/OR EXPERIENCED HOMELESSNESS. To help address these realities, the school's whole child approach provides every student with exceptional care in a safe and nurturing environment so they can be kids. students receive support with all costs covered-this includes medical and dental care, food, clothing, shelter, and psychological, behavioral, and social work services, as well as access to extracurricular activities and resources that allow them to explore their passions. this wraparound care and support helps them cope with and reduce the negative effects of ACEs-putting them on a path to reach their personal goals and break the cycle of poverty. THE GRADUATING CLASS OF 2024 EARNED 1,283 COLLEGE CREDITS; NINETY-ONE PERCENT COMPLETED AN AUTHENTIC WORK EXPERIENCE-EITHER INTERNSHIP OR CO-OP; AND EIGHTY PERCENT ARE PURSUING A POSTSECONDARY EDUCATION. WHILE THESE STUDENTS HAVE LEFT CAMPUS, SUPPORT FOR THEM IS ONGOING. MHS ASSIGNS SPECIALISTS TO NEW GRADUATES TO HELP THEM NAVIGATE THEIR POST-HIGH SCHOOL TRANSITIONS. THESE SPECIALISTS EVEN VISIT OUR ALUMNI ON COLLEGE CAMPUSES TO KEEP THEM ON THE PATH TO ACCOMPLISHING THEIR SHORT- AND LONG-TERM GOALS. The level of college-related funding the School offers its students is greater than that of peer schools and scholarship providers. MHS aims to cover the majority, if not all, of its graduates' postsecondary education expenses, including tuition, fees, books, and room and board. MHS SEEKS TO PRODUCE GRADUATES WHO BREAK THE CYCLE OF POVERTY. TO DO THIS, GRADUATES MUST BE ABLE TO EARN FAMILY-SUSTAINING WAGES IN A PROFESSIONAL OR TECHNICAL CAREER. IN ADDITION, THEY MUST SHOW GENEROSITY AND GIVE BACK TO OTHERS, DEMONSTRATE MORAL AND SOCIAL RESPONSIBILITY, BE SELF-MANAGING AND SELF-SUFFICIENT, DEVELOP AND MAINTAIN HEALTHY RELATIONSHIPS, AND SHOW A BALANCE OF WELLNESS IN MIND, BODY, AND SPIRIT. FOR THE MAJORITY OF THE EMPLOYEES WHO WORK AT MHS, IT IS MORE THAN JUST A JOB-IT'S AN INVESTMENT, NURTURING YOUNG LIVES AND CREATING RELATIONSHIPS AND BONDS THAT LAST WELL BEYOND GRADUATION. FORM 990, PART I, LINE 1 AND FORM 990, PART III, LINE 1 (CONT.) FORM OF ORGANIZATION MILTON HERSHEY SCHOOL AND SCHOOL TRUST IS AN INTEGRATED TAX-EXEMPT ORGANIZATION COMPOSED OF BOTH THE NOT-FOR-PROFIT CORPORATION, MILTON HERSHEY SCHOOL, ACTING AS "MANAGERS" UNDER THE DEED OF TRUST, AND THE SCHOOL TRUST ITSELF. THIS INFORMATIONAL RETURN IS REQUIRED TO INCLUDE THE EXPENSES OF THE ORGANIZATION AS A WHOLE, WITH DETAIL AS REQUIRED BY THE FORM INSTRUCTIONS. AS A RESULT, THIS RETURN INCLUDES ALL EXPENSES OF SERVING THE STUDENTS ENROLLED IN THE SCHOOL AND SCHOLARSHIP COSTS FOR ALUMNI PURSUING CONTINUING EDUCATION, AS WELL AS THE COSTS ASSOCIATED WITH ADMINISTERING THE INVESTMENTS HELD IN THE SCHOOL TRUST. FORM 990, PART I, LINE 5 THIS FIGURE INCLUDES W-2 FORMS FILED WITHIN THE TAX YEAR: ALL ANCILLARY ROLES, PART-TIME INTERNSHIPS AND WORK EXPERIENCE FOR STUDENTS ON CAMPUS, POSITIONS WHICH HAVE BEEN VACATED AND FILLED BY ANOTHER INDIVIDUAL WITHIN THE YEAR, AND ONE-TIME EVENT WORKERS, FOR EXAMPLE. MILTON HERSHEY SCHOOL EMPLOYS APPROXIMATELY 1,550 FULL-TIME STAFF. FORM 990, PART III PROGRAM SERVICE ACCOMPLISHMENTS MILTON HERSHEY SCHOOL SEEKS TO NURTURE AND EDUCATE THE WHOLE CHILD, WHICH MEANS THE SCHOOL PROVIDES FOR EACH CHILD IN A COMPREHENSIVE MANNER-COVERING THE EXPENSES OF, BUT NOT LIMITED TO THE FOLLOWING: - THE EDUCATION OF STUDENTS IN STATE-OF-THE-ART CLASSROOMS WITH SMALL CLASS SIZES, AVERAGING 15 STUDENTS PER CLASSROOM - THE physical, medical, DENTAL, AND PSYCHOLOGICAL CARE OF ALL STUDENTS - CLOTHING, FOOD, AND ROOM AND BOARD - CAREER AND TECHNICAL TRAINING, COLLEGE COURSES BEFORE GRADUATION, VISUAL AND PERFORMING ARTS, MUSICAL INSTRUCTION, ATHLETIC PROGRAMS AND CAMPS, AND AGRICULTURAL AND ENVIRONMENTAL EDUCATION OFTEN NEW STUDENTS WHO ENROLL AT THE SCHOOL ARE AT LEAST ONE OR TWO GRADE LEVELS BEHIND BECAUSE OF FACTORS RELATED TO POVERTY, SUCH AS HOMELESSNESS, FAMILY DRUG AND ALCOHOL ADDICTION, MENTAL ILLNESS, OR NEIGHBORHOOD VIOLENCE. AT MILTON HERSHEY SCHOOL, STUDENTS ARE GIVEN PSYCHOLOGICAL AND EMOTIONAL SUPPORT WHEN NEEDED. IN THE 2023-24 SCHOOL YEAR, NEARLY half of new students enrolled experienced MENTAL HEALTH ISSUES IN THEIR FAMILY, THIRTY-EIGHT PERCENT HAD A FAMILY MEMBER INCARCERATED, THIRTY-SEVEN PERCENT EXPERIENCED FAMILY DRUG OR ALCOHOL ISSUES, AND NEARLY A QUARTER WITNESSED DOMESTIC VIOLENCE AND/OR EXPERIENCED HOMELESSNESS. DESPITE THESE CHALLENGES, MILTON HERSHEY SCHOOL STUDENTS ARE RESILIENT AND HAVE HIGH POTENTIAL FOR SUCCESS IN THE SCHOOL'S UNIQUE NURTURING ENVIRONMENT. IN ADDITION TO HOUSING, FOOD, AND CLOTHING, EACH STUDENT RECEIVES REGULAR MEDICAL, VISION, AND DENTAL CHECKUPS FROM THE SCHOOL, AS WELL AS ANY NECESSARY HEALTH SERVICE OR MEDICATION. DURING SCHOOL YEAR 2023-24, THERE WERE 21,480 NURSE AND PEDIATRICIAN VISITS IN SCHOOL CLINICS AND IN MHS HEALTH CENTER TREATMENT ROOMS, IN ADDITION TO more than 53,000 DENTAL PROCEDURES PERFORMED ON STUDENTS. A STRONG FOCUS ON CAREER AND TECHNICAL EDUCATION, JOB SHADOWING, AND HANDS-ON LEARNING THROUGH INTERNSHIPS, CO-OPS, AND pre-APPRENTICESHIPS HELPS TO PREPARE STUDENTS FOR LIFE BEYOND MILTON HERSHEY SCHOOL. STUDENTS IN ALL GRADE LEVELS, INCLUDING ELEMENTARY STUDENTS, ARE EXPOSED TO AGE- AND GRADE-APPROPRIATE CAREER AND TECHNICAL EDUCATION. YOUNG LEARNERS START WITH HANDS-ON ACTIVITIES AND GUEST SPEAKERS WHILE HIGH SCHOOL STUDENTS COMPLETE INTERNSHIPS AND ACCREDITED INDUSTRY CERTIFICATIONS. THERE ARE nearly a dozen CAREER programs THAT STUDENTS can PURSUE, INCLUDING BUSINESS/FINANCIAL MANAGEMENT & ACCOUNTING; LAW, PUBLIC SAFETY, & SECURITY; COMPUTER SCIENCE & INNOVATION; AGRICULTURE & NATURAL RESOURCES; AND EDUCATION & HUMAN SERVICES. ------------------- THIS TUITION-FREE, COMPREHENSIVE PROGRAM, INCLUDING PHYSICAL CARE AS WELL AS EDUCATIONAL PROGRAMMING IN ACADEMIC, HOME LIFE, AND COMMUNITY/CAREER SETTINGS, HAS AN ANNUAL COST OF: TOTAL PROGRAM EXPENSES: 279,929,246 LESS: LINE 22 DEPRECIATION (32,579,023) LINE 2 GRANTS (10,485,470) -------------- TOTAL EXPENSES 236,864,753 TOTAL NUMBER OF STUDENTS: 2,110 GAAP Cost per Student - Total Expenses (Part IX Line 25) $370,083,636 (TOTAL EXPENSES/2,110) = $175,395 Total Annual Cost per Student- School and Trust Total Program expenses less depreciation (Part IX line 22) and CES Grants (Part IX line 2) $236,864,753 (TOTAL EXPENSES)/2,110 (TOTAL NUMBER OF STUDENTS) = $112,258 MHS DIRECT COST PER STUDENT - SCHOOL ONLY A PREMIER BOARDING SCHOOL LIKE MILTON HERSHEY SCHOOL, the annual investment of more than $110,000 per student includes holistic care, education resources, graduate programs, and more. MILTON HERSHEY SCHOOL ASSUMES THE COST FOR MEDICAL, PSYCHOLOGICAL, DENTAL, ORTHODONTIC, SOCIAL WORK, AND PRESCRIPTION CARE FOR EACH STUDENT. COSTS AT MOST PRIVATE COLLEGES ALSO EXCEED THIS FIGURE. FORM 990, PART VI, SECTION A, LINE 2 FAMILY/BUSINESS RELATIONSHIP SEVERAL OF THE BOARD OF MANAGERS MEMBERS AND OFFICERS OF THE FILING ORGANIZATION ALSO SERVE AS DIRECTORS AND OFFICERS OF BUSINESS ENTITIES THAT ARE RELATED TO THIS FILING ORGANIZATION. OTHER THAN THEIR OVERLAPPING SERVICE ON RELATED COMPANY BOARDS, THEY HAVE NO FAMILY OR BUSINESS RELATIONSHIPS WITH EACH OTHER. PLEASE SEE FORM 990, SCHEDULES J AND R FOR FURTHER INFORMATION. FORM 990, PART VI, SECTION A, LINE 7A ELECTION OF MEMBERS OF GOVERNING BODY MR. AND MRS. HERSHEY ORGANIZED THE SCHOOL THROUGH THE MILTON HERSHEY SCHOOL SCHOOL TRUST, CREATED UNDER THE ORIGINAL 1909 DEED OF TRUST THAT, AS AMENDED, STILL GOVERNS THE OPERATION OF THE SCHOOL. THE DEED OF TRUST SETS FORTH THE RESPECTIVE POWERS AND AUTHORITIES OF THE TRUSTEE AND MANAGERS OF THE SCHOOL AND NAMES THE HERSHEY TRUST COMPANY ("HTC"), A STATE CHARTERED TRUST COMPANY, AS TRUSTEE FOR COMPENSATION OF NO MORE THAN $1,000 PER YEAR. UNDER THE DEED OF TRUST, THE TRUSTEE IS DIRECTED TO HOLD TITLE TO ALL SCHOOL PROPERTY AND ALL INVESTMENTS AND ASSETS THAT SUPPORT THE SCHOOL. THE MANAGERS, IN TURN, ARE NOT PERMITTED TO HOLD SCHOOL TRUST ASSETS; BUT, ARE OTHERWISE GENERALLY RESPONSIBLE FOR MANAGING THE SCHOOL, INCLUDING WITH RESPECT TO ADMISSIONS, THE PROGRAM OF EDUCATING AND FULL-TIME CARE OF THE CHILDREN, AND EMPLOYMENT DECISIONS. AS REQUIRED UNDER THE DEED OF TRUST, THE MEMBERS OF THE BOARD OF MANAGERS OF MILTON HERSHEY SCHOOL ARE APPOINTED BY THE TRUSTEES FROM AMONG THE TRUSTEES' OWN BOARD OF DIRECTORS. SINCE MR. HERSHEY'S DEATH IN 1945, ALL OF THE STOCK OF HTC HAS BEEN OWNED BY THE MILTON HERSHEY SCHOOL TRUST. TWELVE INDIVIDUALS (AS OF 12/31/24) SERVE ON THE BOARD OF DIRECTORS OF HTC AND THE BOARD OF MANAGERS OF MILTON HERSHEY SCHOOL. IN 2023-24, THE MHS BOARD OF MANAGERS AND THE HERSHEY TRUST COMPANY (HTC) BOARD OF DIRECTORS ANNOUNCED THE ELECTION OF MARIA TRINH KRAUS '89 AS CHAIRMAN. KRAUS IS THE FIRST FEMALE MHS GRADUATE TO SERVE IN THIS POSITION. SHE WAS ELECTED TO THE MHS AND HTC BOARDS IN 2018 AND MOST RECENTLY SERVED AS VICE CHAIRMAN, A POSITION TO WHICH SHE WAS APPOINTED IN 2020. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 REVIEW PROCESS THE FORM 990 IS REVIEWED BY THE ORGANIZATION'S MANAGEMENT AND INDEPENDENT TAX ADVISOR, WHO SIGNS THE RETURN AS THE "PAID PREPARER." THE AUDIT COMMITTEE OF THE BOARD OF MANAGERS AND THE TRUSTEE REVIEWS AND DISCUSSES THE FORM 990 AT ONE OF ITS MEETINGS PRIOR TO FILING THE RETURN WITH THE IRS. ADDITIONALLY, THE FORM 990 IS PROVIDED TO THE FULL BOARD OF MANAGERS, NOTING KEY DISCLOSURES, PRIOR TO THE FILING OF THE FORM 990 WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST THE BOARD OF MANAGERS OF MILTON HERSHEY SCHOOL OPERATES UNDER A CONFLICT OF INTEREST POLICY WHICH REQUIRES DIRECTORS TO DISCLOSE "ALL ACTUAL OR POTENTIAL CONFLICTS OF INTEREST" WITH MILTON HERSHEY SCHOOL AND SCHOOL TRUST OR HERSHEY TRUST COMPANY. THE CONFLICTS POLICY CANNOT BE MODIFIED OR AMENDED WITHOUT THE PRIOR WRITTEN APPROVAL OF THE PENNSYLVANIA OFFICE OF ATTORNEY GENERAL ("PA OAG"). MILTON HERSHEY SCHOOL'S CONFLICT OF INTEREST POLICY IS APPLICABLE TO ALL SCHOOL EMPLOYEES AND REQUIRES THE SCHOOL'S OFFICERS, MANAGERS, AND SUPERVISORS TO RESPOND ANNUALLY TO A CONFLICT DISCLOSURE SURVEY. ALL DISCLOSED CONFLICTS ARE REVIEWED BY THE SCHOOL'S CONFLICT OF INTEREST COMMITTEE AND ANY CORRECTIVE ACTION REQUIRED AS A RESULT OF THE DISCLOSED CONFLICT IS ADDRESSED WITH THE EMPLOYEE WHO MADE THE DISCLOSURE AND THEIR SUPERVISOR. THE CONFLICT OF INTEREST POLICY COVERING OFFICERS AND OTHER KEY EMPLOYEES OF HERSHEY TRUST COMPANY, TRUSTEE FOR MILTON HERSHEY SCHOOL AND SCHOOL TRUST, IS DOCUMENTED IN HERSHEY TRUST COMPANY'S ETHICAL STANDARDS, CONFLICT OF INTEREST, AND CODE OF CONDUCT SECTIONS OF ITS POLICY MANUALS. EACH MANAGER, DIRECTOR, OFFICER, AND KEY EMPLOYEE IS REQUIRED TO AVOID ALL ACTIVITY THAT COULD CREATE A CONFLICT OF INTEREST OR EVEN GIVE AN APPEARANCE OF A CONFLICT OF INTEREST. ANY CONFLICTS OF INTEREST ARE TO BE REPORTED AS SOON AS PRACTICAL AFTER THEY BECOME AWARE OF SUCH A CONFLICT. ANNUALLY, EACH MANAGER, DIRECTOR, OFFICER AND KEY EMPLOYEE IS REQUIRED TO COMPLETE AN ANNUAL STATEMENT OF DISCLOSURE. THE FORMS IDENTIFY VENDORS, INVESTMENTS, OTHER BOARD MEMBERSHIPS, AND FAMILY MEMBERS THAT COULD GIVE RISE TO CONFLICTS OF INTEREST. THE STATEMENTS ARE REVIEWED BY THE GENERAL COUNSEL OF HERSHEY TRUST COMPANY, ALONG WITH THE CHAIR OF THE NOMINATING & GOVERNANCE COMMITTEE IN ORDER FOR THEM TO BE AWARE OF ACTIVITIES THAT COULD GIVE RISE TO CONFLICTS OF INTEREST. THE RESULTS OF THIS REVIEW ARE THEN DOCUMENTED AND SHARED WITH THE NOMINATING & GOVERNANCE COMMITTEE AND THEN THE FULL BOARD. FORM 990, PART VI, SECTION B, LINES 15A AND 15B COMPENSATION PROCESS AN INDEPENDENT COMPENSATION CONSULTANT EVALUATES AND COMPARES THE COMPENSATION OF THE OFFICERS AND KEY EMPLOYEES OF MILTON HERSHEY SCHOOL TO SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS TO DETERMINE THAT IT IS FAIR AND REASONABLE. THIS PROCESS OCCURS AT REGULAR INTERVALS THEREAFTER, BUT NOT LESS FREQUENTLY THAN EVERY FIVE YEARS. THE COMPENSATION INFORMATION IS REVIEWED AND APPROVED BY THE BOARD OF MANAGERS, THE GOVERNING BODY OF THE MILTON HERSHEY SCHOOL, WHO DO NOT HAVE ANY CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENTS OF THE OFFICERS AND KEY EMPLOYEES. THE REVIEW OF THE COMPENSATION OF THE OFFICERS AND KEY EMPLOYEES, INCLUDING DETAIL ON THE DELIBERATIONS AND DECISIONS, IS CONTEMPORANEOUSLY DOCUMENTED WITHIN THE MINUTES FROM THE BOARD MEETING. A FILE WITH POSITION DESCRIPTIONS, RESUMES OF OFFICERS AND KEY EMPLOYEES, THE REPORT OF THE INDEPENDENT COMPENSATION CONSULTANT AND A COPY OF THE APPLICABLE BOARD MINUTES IS MAINTAINED BY THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST. THE COMPENSATION OF THE OFFICERS AND KEY EMPLOYEES OF HERSHEY TRUST COMPANY, TRUSTEE OF THE SCHOOL TRUST, IS DETERMINED BY PERIODIC REVIEW (GENERALLY, AT LEAST EVERY THREE YEARS) BY THIRD PARTY COMPENSATION CONSULTANTS TO DETERMINE IT IS FAIR AND REASONABLE. THE MEMBERS OF THE BOARD OF MANAGERS OF MILTON HERSHEY SCHOOL DO NOT RECEIVE ANY DIRECT COMPENSATION FROM MILTON HERSHEY SCHOOL. THE MANAGERS RECEIVE COMPENSATION FROM HERSHEY TRUST COMPANY AS DIRECTORS OF THE HERSHEY TRUST COMPANY IN ACCORDANCE WITH ITS BYLAWS AND THE PENNSYLVANIA OFFICE OF ATTORNEY GENERAL AGREEMENT. FORM 990, PART VI, SECTION C, LINE 17 STATE FILING OF FORM 990 THE FORM 990 IS NOT REQUIRED TO BE FILED IN THE STATE OF PENNSYLVANIA; HOWEVER, A COPY IS PROVIDED TO THE PENNSYLVANIA OFFICE OF THE ATTORNEY GENERAL FOR THEIR REVIEW. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC AVAILABILITY OF GOVERNING DOCUMENTS COPIES OF THE DEED OF TRUST WHICH ESTABLISHES THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST, AND THE CONFLICT OF INTEREST POLICY ARE POSTED ON THE MILTON HERSHEY SCHOOL WEBSITE. THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST HAS ITS FORM 990 POSTED ON ANOTHER WEBSITE, GUIDESTAR. INCLUDED IN THE 990 ARE CERTAIN FINANCIAL STATEMENT COMPONENTS FOR REVIEW. THE FORM 990 AND TAX EXEMPTION LETTER ARE PROVIDED TO ANYONE WHO REQUESTS THEM IN ACCORDANCE WITH IRS REGULATIONS. FORM 990, PART VII, SECTION B HERSHEY TRUST COMPANY IS LISTED AS AN INDEPENDENT CONTRACTOR. MILTON HERSHEY SCHOOL REIMBURSES HERSHEY TRUST COMPANY FOR THE SHARED SERVICES (COMPENSATION AND BENEFITS) OF CERTAIN INDIVIDUALS WHO PERFORM SERVICES FOR BOTH HERSHEY TRUST COMPANY AND MILTON HERSHEY SCHOOL. THE SCHOOL TRUST REIMBURSES HERSHEY TRUST COMPANY FOR INVESTMENT SERVICES. FORM 990, PART IX, LINE 11G OTHER FEES FOR SERVICE THIS AMOUNT IS FOR HOSPITAL, MEDICAL, AND DENTAL SERVICES PROVIDED FOR THE STUDENTS. FORM 990, PART XI, LINE 9 RECONCILIATION OF NET ASSETS DECREASE IN UNRECOGNIZED PENSION SERVICE COST $ (2,528,541) CAPITAL CONTRIBUTION TO CHS (72,261,916) ________________ OTHER CHANGES IN NET ASSETS $(74,790,457) MHST CORPUS LLC PO BOX 445 HERSHEY PA 17033 271451942 RE RENTAL PA 0 0 MHS TRUST MHST INCOME LLC PO BOX 445 HERSHEY PA 17033 271451914 RE RENTAL PA 0 0 MHS TRUST EATON VANCE TRUST CO HIGH YIELD CTF TWO INTERNATIONAL PLACE BOSTON MA 02210 320399219 INVESTMENTS MA 10299159 252549097 MHS TRUST THE MS HERSHEY FOUNDATION PO BOX 445 HERSHEY PA 17033 236242734 EDUCATION PA 501(c)(3) 10 HTC TRUSTEE false THE WILLIAM E DEARDEN ALUMNI CAMPUS INC PO BOX 830 HERSHEY PA 17033 202579678 SVCS TO ALUM PA 501(c)(3) 7 NA false HERSHEY CEMETERY COMPANY PO BOX 445 HERSHEY PA 17033 231973529 CEMETERY PA 501(c)(13) N/A NA false Hershey Cemetery Perpetual Maintenance PO Box 445 Hershey PA 17033 236629638 Cemetery PA 501(c)(13) N/A HTC Trustee false CATHERINE HERSHEY SCH FOR EARLY LEARNING 1840 Fishburn Rd HERSHEY PA 17033 854322274 EDUCATION PA 501(C)(3) 2 MHSST true FAMILY GRATITUDE FDN IN HONOR OF GERTRUD 1201 Homestead Lane PO Box 830 Hershey PA 170330830 841940979 SVCS TO P/S PA 501(c)(3) 10 NA false Franklin Templeton Emerging Mkt Debt Opp PO Box 7777 San Mateo CA 94403 263995499 INVESTMENTS CA MHS Trust Excluded from Tax 8199962 123497310 false 0 false 1.00000 Sands Capital Intl Growth Feeder 1000 Wilson Blvd Suite 3000 Arlington VA 22209 842447062 INVESTMENTS VA MHS Trust Excluded from Tax 55642 31734038 false 0 false 1.00000 Eaton Vance Parametric Commodity Fund Two International Place Boston MA 02110 452502318 Investments MA MHS Trust Excluded from Tax -3103632 56095089 false 0 false 0.90038 HERSHEY TRUST COMPANY PO BOX 445 HERSHEY PA 17033 230692150 STATE TRUST CO PA HTC TRUSTEE C CORP 15115490 47132950 1.00000 true HERSHEY ENTERTAINMENT & RESORTS CO 27 W CHOCOLATE HERSHEY PA 17033 230691815 ENTERTAINMENT PA HTC TRUSTEE C CORP 383933240 455486883 1.00000 true THE HERSHEY CO 19 E CHOCOLATE AVENUE HERSHEY PA 17033 230691590 CONFECTIONARY PA HTC TRUSTEE C CORP 1776849393 3379229325 0.78770 true MILTON HERSHEY SCHOOL BLK TRUST BLACKROCK INST TR TTE 400 HOWARD S SAN FRANCISCO CA 94105 306349039 INVESTMENTS CA MHS TRUST TRUST 13134908 1446577479 1.00000 true HERSHEY WEST END LAND CONDO ASSOC INC 100 EAST MANSION ROAD HERSHEY PA 17033 462294247 CONDO ASSOCIATION PA HTC TRUSTEE C corp 16525 22116 1.00000 true THE ORCHARD AT HERSHEY CONDO ASSOC INC 100 EAST MANSION ROAD HERSHEY PA 17033 462295692 INACTIVE PA HTC TRUSTEE C corp 0 0 1.00000 true MS FOUNDATION BLK TRUST 400 HOWARD ST SAN FRANCISCO CA 94105 306349022 INVESTMENTS CA MSH FDN TRUST TRUST 0 0 0.00000 false 14 East Condominium Association 1201 Homestead Lane Hershey PA 17033 993579246 CONDO ASSOCIATION PA MSH FDN TRUST C Corp 0 0 1.00000 true true false true false false true true true false false false false false false false true false true false Hershey Entertainment & Resorts Co a 149682 MARKET Hershey Trust Company a 281083 MARKET The MS Hershey Foundation a 15646 market Eaton Vance Trust Co High Yield CTF f 8367583 MARKET The Hershey Co f 264860322 MARKET Milton Hershey School BLK Trust g 2474611276 MARKET Milton Hershey School BLK Trust h 2004817851 MARKET Hershey Entertainment & Resorts Co p 2186539 MARKET The MS Hershey Foundation p 301058 MARKET The Hershey Co P 98611 market Franklin Templeton Emerging Mkts Debt g 47000000 MARKET 14 East Condominium Association R 7590000 MARKET Catherine Hershey Schools for Early Learning R 4053683 MARKET Eaton Vance Parametric Commodity Fund F 1404047 MARKET Hershey Entertainment & Resorts Co C 541801 MARKET Hershey Entertainment & Resorts Co F 22163000 MARKET Eaton Vance Parametric Commodity Fund G 37000000 MARKET Eaton Vance Trust Co High Yield CTF G 250168963 MARKET Eaton Vance Parametric Commodity Fund H 920000 MARKET SCHEDULE R, PART I DISREGARDED ENTITIES THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST OWNS ONE HUNDRED PERCENT OF MHST CORPUS LLC AND MHST INCOME LLC. BOTH ARE PENNSYLVANIA SINGLE-MEMBER LIMITED LIABILITY COMPANIES. THE LLCS' PRINCIPAL ACTIVITY ARE THE ACQUISITION, HOLDING AND DEVELOPMENT OF RENT-PRODUCING REAL ESTATE, AND THEIR PRINCIPAL SOURCE OF REVENUE IS RENT. THEY ARE DISREGARDED SINGLE-MEMBER LLCS FOR TAX PURPOSES. MHST CORPUS LLC AND MHST INCOME LLC DO NOT CURRENTLY HAVE ANY ASSETS OR INCOME. SCHEDULE R, PART II RELATED TAX-EXEMPT ORGANIZATIONS RELATED TAX-EXEMPT ORGANIZATIONS THE CATHERINE HERSHEY SCHOOLS FOR EARLY LEARNING (EIN 85-4322274) IS A PENNSYLVANIA NONPROFIT THAT IS EXEMPT FROM FEDERAL INCOME TAX PURSUANT TO INTERNAL REVENUE CODE SECTION 501(C)(3). THE MILTON HERSHEY SCHOOL, A PENNSYLVANIA NONPROFIT CORPORATION, IS THE SOLE MEMBER OF THE CORPORATION. THE AFFAIRS OF THE CATHERINE HERSHEY SCHOOLS FOR EARLY LEARNING ARE MANAGED UNDER THE DIRECTION OF THE BOARD OF DIRECTORS, WHO ARE ELECTED ANNUALLY BY THE MILTON HERSHEY SCHOOL BOARD OF MANAGERS, UNLESS RESERVED TO OR REQUIRED TO BE EXERCISED BY THE MILTON HERSHEY SCHOOL BOARD OF MANAGERS AS SET FORTH IN THE BYLAWS OF THE CORPORATION. THE M.S. HERSHEY FOUNDATION (EIN 23-6242734) IS A PENNSYLVANIA NONPROFIT THAT IS EXEMPT FROM FEDERAL INCOME TAX PURSUANT TO INTERNAL REVENUE CODE SECTION 501(C)(3). MILTON HERSHEY FUNDED THE FOUNDATION IN 1935 AND APPOINTED HERSHEY TRUST COMPANY AS ITS TRUSTEE. THE FOUNDATION HAS SEVERAL OPERATIONS IN HERSHEY, PENNSYLVANIA INCLUDING THE HERSHEY STORY, HERSHEY GARDENS, HERSHEY COMMUNITY ARCHIVES AND THE HERSHEY THEATRE. THE MEMBERS OF THE BOARD OF MANAGERS OF THE FOUNDATION ARE APPOINTED BY THE HERSHEY TRUST COMPANY, IN ITS CAPACITY AS TRUSTEE, FROM AMONG ITS OWN BOARD OF DIRECTORS. TOGETHER THE TRUSTEE AND BOARD OF MANAGERS SERVE AS THE GOVERNING BODY OF THE FOUNDATION. HERSHEY CEMETERY COMPANY (EIN 23-1973529) IS A PENNSYLVANIA CEMETERY COMPANY THAT IS EXEMPT FROM FEDERAL INCOME TAX PURSUANT TO INTERNAL REVENUE CODE SECTION 501(C)(13). HERSHEY TRUST COMPANY OPERATES THE CEMETERY COMPANY AND IS TRUSTEE OF THE HERSHEY CEMETERY PERPETUAL MAINTENANCE FUND TRUST (EIN: 23-6629638) THAT WAS ESTABLISHED TO PROVIDE FUNDING FOR PERPETUAL MAINTENANCE FOR THE HERSHEY CEMETERY. HERSHEY CEMETERY IS THE FINAL RESTING PLACE OF MILTON AND CATHERINE HERSHEY. THE HERSHEY TRUST COMPANY AND THE HERSHEY CEMETERY COMPANY ARE RELATED TO MILTON HERSHEY SCHOOL AND SCHOOL TRUST. THE WILLIAM E. DEARDEN ALUMNI CAMPUS, INC. (EIN 20-2579678) IS A PENNSYLVANIA NONPROFIT THAT IS EXEMPT FROM FEDERAL INCOME TAX PURSUANT TO INTERNAL REVENUE CODE SECTION 501(C)(3). THE NONPROFIT'S MISSION IS TO PROMOTE AND ENHANCE THE EDUCATION AND GENERAL WELFARE OF THE STUDENTS AND ALUMNI OF THE SCHOOL; TO ACHIEVE CLOSER COOPERATION BETWEEN THE SCHOOL AND ALUMNI, IN THE INTEREST OF THE EDUCATION AND GENERAL WELFARE OF THE STUDENTS AND ALUMNI; TO DEVELOP AMONG TEACHERS, ADMINISTRATION, STUDENTS, ALUMNI AND THE GENERAL PUBLIC SUCH PROGRAMS AND ACTIVITIES AS WILL SECURE FOR ALL STUDENTS AND ALUMNI THE HIGHEST ADVANTAGES IN PHYSICAL, MENTAL AND SOCIAL EDUCATION AND DEVELOPMENT; TO SERVE AS A CLEARING HOUSE FOR THE GATHERING AND DISSEMINATION OF INFORMATION AND KNOW-HOW IN FURTHERANCE OF THE FOREGOING PURPOSES; AND TO SOLICIT AND ACCEPT DONATIONS, GIFTS, GRANTS, LEGACIES AND BEQUESTS TO FURTHER THE FOREGOING PURPOSES. PER ITS GOVERNING INSTRUMENT, SEVERAL OF THE BOARD MEMBERS ARE SELECTED FROM THE OFFICERS OF THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST OR ARE APPOINTED BY THE PRESIDENT OF THE MILTON HERSHEY SCHOOL. THE FAMILY GRATITUDE FOUNDATION IN HONOR OF GERTRUDE GURT (EIN 84-1940979) IS A PENNSYLVANIA NONPROFIT THAT IS EXEMPT FROM FEDERAL INCOME TAX PURSUANT TO INTERNAL REVENUE CODE SECTION 501(C)(3). THE NONPROFIT'S MISSION IS TO CELEBRATE THE COURAGE, STRENGTH, AND RESILIENCE OF THOSE WHO ENROLL AND SUPPORT MILTON HERSHEY STUDENTS AND PROVIDE A VEHICLE FOR STUDENTS AND ALUMNI TO HONOR THEIR OWN PARENTS/SPONSORS AND THEIR COMMITMENT TO THEIR CHILDREN AND THE SCHOOL. PER ITS GOVERNING INSTRUMENT, ALL BOARD MEMBERS ARE ELECTED BY THE MEMBERS OF THE FOUNDATION. AS OF THE TIME OF THIS FILING, ALL BOARD MEMBERS ARE EMPLOYEES OR OFFICERS OF THE MILTON HERSHEY SCHOOL. SCHEDULE R, PART IV RELATED ORGANIZATIONS TAXABLE AS A CORPORATION OR TRUST THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST HOLDS 27.73 PERCENT OF THE OUTSTANDING COMBINED COMMON AND CLASS B SHARES OF THE HERSHEY COMPANY. EACH SHARE OF THE CLASS B COMMON STOCK ENTITLES ITS HOLDER TO 10 VOTES. THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST HAS 78.77 PERCENT OF ALL VOTES ENTITLED TO BE CAST ON MATTERS REQUIRING THE VOTE OF COMMON STOCK AND CLASS B COMMON STOCK VOTING TOGETHER. COLUMNS (F) AND (G) REFLECT THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST'S 27.73 PERCENT SHARE OF THE HERSHEY COMPANY'S TOTAL INCOME AND END-OF-YEAR ASSETS. COLUMN (H) REFLECTS THE MILTON HERSHEY SCHOOL AND SCHOOL TRUST'S TOTAL COMBINED VOTING POWER. (PERCENTAGES AS OF DECEMBER 31, 2023) THE 14 EAST CONDOMINIUM ASSOCIATION (EIN 99-3579246) IS A PENNSYLVANIA NONPROFIT CORPORATION. THE ASSOCIATION WAS FORMED IN 2022 AS THE UNIT OWNERS' ASSOCIATION OF HERSHEY 14 EAST, A CONDOMINIUM. THE OWNERS OF THE TWO CONDOMINIUM UNITS ARE THE MILTON HERSHEY SCHOOL TRUST AND THE M.S. HERSHEY FOUNDATION TRUST. THE UNIT OWNERS WILL OCCUPY THE HISTORICAL BUILDING LOCATED AT 14 EAST CHOCOLATE AVENUE IN DOWNTOWN HERSHEY, PENNSYLVANIA. THE MHS UNIT WILL PROVIDE STAFF OFFICES AND MEETING ROOMS AS WELL AS CULTIVATE A CENTER OF EXCELLENCE TO PROVIDE EXPANDED OFFERINGS FOR STUDENTS AND GRADUATES OF MILTON HERSHEY SCHOOL TO SPARK AN ENTREPRENEURIAL MINDSET. THE MHS UNIT WILL ALSO SERVE AS A WORKSPACE AND FOR STORAGE, AND WILL HOUSE DISPLAYS FOR THE HERSHEY ARCHIVES. THE VOTING MEMBERS OF THE EXECUTIVE BOARD INCLUDE FOUR DELEGATES FROM MILTON HERSHEY SCHOOL AND ONE DELEGATE FROM THE M.S. HERSHEY FOUNDATION - PROPORTIONATE TO THE OWNERSHIP OF THE CONDOMINIUM. SCHEDULE R, PARTS III AND IV, RELATED ORGANIZATIONS TAXED AS A PARTNERSHIP AND RELATED ORGANIZATIONS TAXED AS A CORPORATION OR TRUST. THE MILTON HERSHEY SCHOOL AND SCHOOL TRUSTS INVESTED IN THREE PARTNERSHIPS THAT ARE INVESTMENT ENTITIES, IN WHICH THE SCHOOL AND SCHOOL TRUST OWNS MORE THAN FIFTY PERCENT. THE MILTON HERSHEY SCHOOL BLK TRUST OWNS SEVERAL PARTNERSHIP INTERESTS, NONE OF WHICH IS MORE THAN FIFTY PERCENT OWNERSHIP. SCHEDULE R, PART V, LINE 2 (ITEM 6) HERSHEY ENTERTAINMENT & RESORTS COMPANY PROVIDED SEASON PASSES, GIANT CENTER TICKETS, PROJECT FELLOWSHIP ACTIVITIES, AND OTHER BENEFITS TO MILTON HERSHEY SCHOOL STUDENTS AT NO COST. THE VALUE OF THESE BENEFITS WAS $541,801.