2021-05-11T15:36:27-05:00 2020-06-30 560574444 CHERRY BEKAERT LLP 200 SOUTH 10TH ST STE 900 RICHMOND VA 23219 990 2019-07-01 540528203 THE COLLEGIATE SCHOOL COLL 8047407077 103 NORTH MOORELAND ROAD RICHMOND VA 23229 PHYLLIS PALMIERO CFO & COO 8047419799 2021-04-25 1 AMANDA ADAMS P00748038 8046735700 2019 2022-09-23 18:48:47Z PHYLLIS PALMIERO 103 NORTH MOORELAND ROAD RICHMOND VA 23229 84080535 0 X WWW.COLLEGIATE-VA.ORG X 1915 VA SEE SCHEDULE O TO CREATE A DIVERSE AND INCLUSIVE COMMUNITY OF LEARNERS COMMITTED TO A CHALLENGING AND SUPPORTIVE EDUCATIONAL EXPERIENCE THAT WILL FOSTER THE INTELLECTUAL, MORAL, EMOTIONAL, AND PHYSICAL DEVELOPMENT OF EACH STUDENT. 25 24 756 900 -214922 0 2671169 3087805 45572119 45911337 13401668 10612201 249229 237160 61894185 59848503 3944874 4026972 0 0 33704678 33694758 51939 11225 1432176 15810084 14348297 53511575 52081252 8382610 7767251 158017644 158195585 44261162 45184553 113756482 113011032 X TO CREATE A DIVERSE AND INCLUSIVE COMMUNITY OF LEARNERS COMMITTED TO A CHALLENGING AND SUPPORTIVE EDUCATIONAL EXPERIENCE THAT WILL FOSTER THE INTELLECTUAL, MORAL, EMOTIONAL, AND PHYSICAL DEVELOPMENT OF EACH STUDENT. 0 0 41838734 4026972 42794468 INSTRUCTIONAL - COLLEGIATE SCHOOL PROVIDED JUNIOR KINDERGARTEN THROUGH TWELFTH GRADE EDUCATION TO APPROXIMATELY 1,696 STUDENTS. THE FOLLOWING STATISTICS FOR THE GRADUATING CLASS OF 2020 HIGHLIGHT THE QUALITY OF THE ACADEMIC AND ATHLETIC PROGRAMS THAT COLLEGIATE OFFERS. THE CLASS CONTINUED THE SCHOOL'S TRADITION OF STRONG ACADEMIC ACCEPTANCE RATES, CONTRIBUTING TO THE 10-YEAR AVERAGE OF TWO OUT OF EVERY THREE APPLICATIONS RESULTING IN ACCEPTANCES. THESE INCLUDED A HOST OF "MOST SELECTIVE" COLLEGES AND UNIVERSITIES SUCH AS HARVARD, STANFORD, DARTMOUTH, DUKE, NORTHWESTERN AND GEORGETOWN. THE CLASS OF 2020 HAD 26 RECRUITED ATHLETES, 13 WENT ON TO COMPETE AT DIVISION I SCHOOLS, AND 13 WENT ON TO COMPETE AT DIVISION III SCHOOLS. COLLEGIATE SCHOOL ALSO HOSTED OVER 41 STUDENTS FROM AROUND THE WORLD DURING ITS 9TH ANNUAL INTERNATIONAL EMERGING LEADERS CONFERENCE IN OCTOBER 2019. THE CONFERENCE IS BELIEVED TO BE THE ONLY COLLABORATIVE GLOBAL YOUTH CONFERENCE OF ITS KIND AMONG PUBLIC AND PRIVATE SCHOOLS NATIONWIDE. 2730795 2199771 AUXILIARIES - THE SCHOOL OPERATES, FOR THE BENEFIT AND CONVENIENCE OF PARENTS, STUDENTS, AND ALUMNI, SEVERAL AUXILIARY SERVICES INCLUDING FOOD SERVICE (CAFETERIAS), A CAMPUS BOOKSTORE, AFTER SCHOOL CARE, AND PRIVATE MUSIC INSTRUCTION, AMONG OTHERS. 952710 1095403 PUBLIC SERVICE - THE SCHOOL OFFERS A SUMMER ECONOMICS INSTITUTE, SUMMER PROGRAMS, AND SEVERAL YOUTH SPORTS AND ADULT SPORTS PROGRAMS TO THE GREATER RICHMOND COMMUNITY. 45522239 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 1 0 0 0 1 132 0 1 756 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X PHYLLIS PALMIERO CFO & COO 8047419799 103 NORTH MOORELAND ROAD RICHMOND VA 23229 JOHN W MARTIN CHAIR OF THE BOARD 2.00 X X 0 0 0 MICHELLE P WILTSHIRE VICE CHAIR OF THE BOARD 2.00 X X 0 0 0 FRANK F MOUNTCASTLE III IMMEDIATE PAST CHAIR OF THE BOARD 2.00 X X 0 0 0 ELLEN T BONBRIGHT TRUSTEE 2.00 X 0 0 0 CALLIE LACY BRACKETT TRUSTEE 2.00 X 0 0 0 MASON T CHAPMAN TRUSTEE 2.00 X 0 0 0 JEFFREY W CONGDON TRUSTEE 2.00 X 0 0 0 DAVID A GALLAGHER TRUSTEE 2.00 X 0 0 0 EUCHARIA N JACKSON TRUSTEE 2.00 X 0 0 0 MICHAEL S LAMING TRUSTEE 2.00 X 0 0 0 PETER E MAHONEY SR TRUSTEE 2.00 X 0 0 0 NEELAN A MARKEL TRUSTEE 2.00 X 0 0 0 MORENIKE K MILES TRUSTEE 2.00 X 0 0 0 JOAN OLMSTEAD OATES DECEASED LIFE TRUSTEE UNTIL 4/2020 2.00 X 0 0 0 CARTER M REID TRUSTEE 2.00 X 0 0 0 LISA E RODAY TRUSTEE 2.00 X 0 0 0 RITA M RYAN TRUSTEE 2.00 X 0 0 0 KENNETH P RUSCIO TRUSTEE 2.00 X 0 0 0 DANIELLE D SCOTT TRUSTEE 2.00 X 0 0 0 L MARK STEPANIAN TRUSTEE 2.00 X 0 0 0 WALLACE STETTINIUS LIFE TRUSTEE 2.00 X 0 0 0 W HILDEBRANDT SURGNER JR TRUSTEE 2.00 X 0 0 0 RUPA TAK TRUSTEE 2.00 X 0 0 0 ROBERT S UKROP LIFE TRUSTEE 2.00 X 0 0 0 R GREGORY WILLIAMS LIFE TRUSTEE 2.00 X 0 0 0 MAYME DONOHUE WILLIS TRUSTEE 2.00 X 0 0 0 PENNY EVINS PRESIDENT/HEAD OF SCHOOL 40.00 X 316222 0 112054 PHYLLIS PALMIERO TREASURER/ VP OF FINANCE 40.00 X 251667 0 55219 SUSAN C WILEY SECRETARY / ASST TO HEAD OF SCHOOL 40.00 X 78727 0 20533 KRISTEN M WILLIAMS VP OF DEVELOPMENT 40.00 X 144310 0 59752 SUSAN R DROKE CHIEF ACADEMIC OFFICER 40.00 X 156337 0 36093 PATRICK E LOACH HEAD OF UPPER SCHOOL 40.00 X 146279 0 62609 KAREN S DOXEY ATHLETIC DIRECTOR 40.00 X 133896 0 32027 DEBORAH I MILLER HEAD OF LOWER SCHOOL 40.00 X 132154 0 23789 STEPHEN HICKMAN FORMER PRESIDENT/HEAD OF SCHOOL 40.00 X 534223 0 37826 1893815 0 439902 17 1 1 0 ALADDIN FOOD MANAGEMENT SERVICES LLC 16567 COLLECTIONS CENTER DR CHICAGO IL 60693 FOOD SERVICES 1151500 ASTRO TURF LLC 2680 ABUTMENT ROAD SE DALTON GA 30721 ATHLETIC FIELD REPLACEMENT 841115 RIGGS COUNSELMAN MICHAELS & DOWNES IN PO BOX 826365 PHILADELPHIA PA 19182 INSURANCE BROKERAGE SERVICES 364496 BAKER & HAZLEWOOD MECHANICAL CONTRACTSI 320 LORDLEY LANE RICHMOND VA 23224 MECHANICAL CONTRACTOR 325606 RHODES-WERNER & CO INC 1955 STONEHENGE DRIVE NORTH CHESTERFIELD VA 23225 CUSTOM PAINTING 271986 11 245446 5000 2837359 384321 3087805 TUITION & FEES 611600 42039033 42039033 FOOD SERVICE 611600 1174669 1174669 SUMMER PROGRAMS 611600 975921 975921 CHILD CARE 611600 533218 533218 PRIVATE MUSIC LESSONS 611600 298443 298443 890053 874917 15136 45911337 995604 -230058 1225662 134710 67027 67683 67683 67683 32890478 59820 23286648 47053 9603830 12767 9616597 9616597 396792 245446 465782 -68990 -68990 22394 2944 19450 19450 556019 362578 193441 193441 25576 25576 25576 59848503 46089642 -214922 10885978 4026972 4026972 726889 726889 22941203 20405039 1765755 770409 1746703 1545668 143679 57356 6605089 5712850 597614 294625 1674874 1470922 151509 52443 65996 65996 59610 59610 11225 11225 268842 268842 2439228 2058917 350555 29756 1766648 1433200 333448 746047 665832 79397 818 2710 2710 679239 658453 17251 3535 232049 199540 22913 9596 135738 115275 13826 6637 1197381 1162038 33052 2291 5587609 5420444 138739 28426 257644 37262 220290 92 FIELD TRIP EXPENSE 212059 212059 DUES AND SUBSCRIPTIONS 149785 105625 39491 4669 547712 289433 97981 160298 52081252 45522239 5126837 1432176 3363710 6242708 15283643 15361725 8789285 8184361 556482 304207 80634 86241 770476 1687747 137874306 76633235 63256608 61241071 16627751 12237525 43649698 50293628 5639357 2556372 158017644 158195585 5046469 5222552 3425359 7311949 32403688 29398052 50300 25150 3335346 3226850 44261162 45184553 X 64773536 63590184 48982946 49420848 113756482 113011032 158017644 158195585 X 7767251 -8422083 -90618 X 0 1 X 1 0 X 6267899 6795368 4138343 2671169 3087805 22960584 6267899 6795368 4138343 2671169 3087805 22960584 4221541 18739043 942769 740503 888780 1149905 1130314 4852271 72164 72164 27885019 136420123 0.67200 0.67680 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 64750553 1400548 1321347 500788 4007605 62964055 65190682 1406476 2557810 467790 3936625 64750553 60485425 3268181 5751783 452333 3862374 65190682 54587226 4016923 5992027 444917 3665834 60485425 59854616 1807537 -3040206 435978 3598743 54587226 0.26790 0.42250 0.30960 0 0 877900 3697128 4575028 88570640 40461167 48109473 12792129 10813721 1978408 31936509 25358347 6578162 61241071 PARTNERSHIPS 50293628 F 50293628 ACCRUED POST RETIREMENT MEDICAL 2915400 ANNUITIES PAYABLE 51978 ACCRUED INTEREST PAYABLE 203886 FAS 143 LIABILITY 17273 DUE TO OTHER FUNDS 38313 3226850 X 47642744 -8422083 -3962649 -12384732 60027476 431939 -610912 -178973 59848503 48381660 982753 982753 47398907 431939 4250406 4682345 52081252 PART V, LINE 4: THE COLLEGIATE SCHOOL'S ENDOWMENT (THE ENDOWMENT) CONSISTS OF APPROXIMATELY 160 INDIVIDUAL ENDOWMENTS, OF WHICH 72% ARE TRUE ENDOWMENTS AND 28% ARE RESTRICTED AND BOARD-DESIGNATED QUASI-ENDOWMENTS. OF THE TRUE ENDOWMENTS, 71% REPRESENTS FUNDS RESTRICTED FOR FACULTY AND PROGRAM DEVELOPMENT, AND 29% REPRESENTS FUNDS RESTRICTED FOR FINANCIAL AID. IT IS THE SCHOOL'S INTENTION THAT THESE FUNDS ARE TO BE USED TO SUPPORT THESE SPECIFIC PURPOSES IN PERPETUITY AND SPENDING IS LIMITED TO THE ANNUAL BOARD-APPROVED SPEND RATE OF 4%. IN ADDITION, THE SCHOOL'S ENDOWMENT CONTAINS AN UNRESTRICTED QUASI-ENDOWMENT FUND THAT ACCOUNTS FOR 27% OF THE TOTAL ENDOWMENT MARKET VALUE AT JUNE 30, 2020. THE QUASI-ENDOWMENT IS AVAILABLE TO BE USED AT THE DISCRETION OF THE BOARD, INCLUDING, AND WITHOUT LIMITATION, TO PAY CAPITAL IMPROVEMENT PROJECT COSTS AND DEBT SERVICE (BOTH CURRENT AND FUTURE) PAYMENTS. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT HAS EVALUATED THE EFFECT OF THE GUIDANCE PROVIDED BY U.S. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT BELIEVES THAT THE SCHOOL CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AT JUNE 30, 2020. MANAGEMENT HAS EVALUATED ALL OTHER TAX POSITIONS THAT COULD HAVE A SIGNIFICANT EFFECT ON THE FINANCIAL STATEMENTS AND DETERMINED THE SCHOOL HAD NO UNCERTAIN INCOME TAX POSITIONS AT JUNE 30, 2020 AND 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH TUITION REVENUE ON FINANCIAL STATEMENTS -4,026,972. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 64,323. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -362,578. AGENCY FUND REVENUES 216,900. RENTAL EXPENSES -67,027. DIRECT FUNDRAISING EVENT EXPENSES -396,227. LOSS ON SALE OF STOCK -1,980. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 362,578. RENTAL EXPENSES 67,027. DIRECT FUNDRAISING EVENT EXPENSES 396,227. LOSS ON SALE OF STOCK 1,980. CHANGE IN VALUE OF BENEFIT PLAN OBLIGATION 154,941. PART XII, LINE 4B - OTHER ADJUSTMENTS: AGENCY FUND EXPENSES 223,434. FINANCIAL AID NETTED WITH TUITION REVENUE ON FINANCIAL STATEMENTS 4,026,972. PART V, LINE 1B: ENDOWMENT CONTRIBUTIONS ARE COMPOSED OF CONTRIBUTIONS AND TRANSFERS. ENDOWMENT CONTRIBUTIONS TOTALED $670,039 FOR THE FISCAL YEAR. ENDOWMENT TRANSFERS TOTALED $730,509. THIS AMOUNT WAS TRANSFERRED INTO THE UNRESTRICTED QUASI-ENDOWMENTS, FOR WHICH THE BOARD MAY USE AT ITS DISCRETION. THE BOARD HAS CURRENTLY EARMARKED THE FUNDS TO SUPPORT, AMONG OTHER USES, DEBT SERVICE ON ITS BONDS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 EVERY PRINT ADVERTISEMENT COLLEGIATE SCHOOL PLACES IN MAGAZINES, NEWSPAPERS, PROGRAM BOOKS, ETC. INCLUDES THE SCHOOL'S NONDISCRIMINATORY POLICY. SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES GRANTS AND ASSISTANCE 1692 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES INTERNATIONAL STUDY 15640 0 0 0 0 0 0 17332 0 17332 1 0 1 0 0 0 PART I, LINE 3: THE ORGANIZATION USED THE CASH BASIS OF ACCOUNTING METHOD TO ACCOUNT FOR EXPENDITURES. PART III ACCOUNTING METHOD: AUCTION 543613 227370 316243 30034 44229 3495 317094 VILLAGE GREEN FAIR 27359 15000 12359 0 2817 1636 27930 10 71266 3076 68190 38547 642238 245446 396792 30034 47046 5131 383571 465782 -68990 3464 75 1494 1 1.00000 18930 1375 1 0.50000 22394 1450 1494 2944 19450 VA 0 GAMING ACTIVITY FALLS UNDER THRESHOLD FOR REQUIRED LICENSING IN COMMONWEALTH OF VIRGINIA 0 0 0 0 0 1 NEED-BASED FINANCIAL ASSISTANCE 290 3935222 FMV TUITION REDUCTION, FEES, BOOKS, QUEST MERIT BASED SCHOLARSHIPS 10 91750 FMV TUITION REDUCTION PART I, LINE 2: ALTHOUGH THE SCHOOL DOES NOT PROVIDE GRANTS IN THE TRADITIONAL SENSE, THE SCHOOL DOES PROVIDE NEED-BASED FINANCIAL ASSISTANCE TO FAMILIES WHO QUALIFY. FAMILIES REQUESTING SCHOLARSHIPS MUST ANNUALLY SUBMIT A PARENTS' FINANCIAL STATEMENT TO THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSS) ALONG WITH SUPPORTING DOCUMENTS (E.G. TAX RETURNS, W-2S). THIS FORM REQUESTS INFORMATION SUCH AS INCOME, EXPENSES, ASSETS, AND NUMBER OF CHILDREN IN THE FAMILY. THE SSS EVALUATES THE FAMILY'S FINANCIAL NEED AND DETERMINES AN EXPECTED FAMILY CONTRIBUTION. THE SSS REPORT IS RECEIVED BY THE SCHOOL AND REVIEWED BY THE FINANCIAL AID COMMITTEE. THE SCHOOL AWARDS SCHOLARSHIPS BASED ON NEED. THE SCHOOL APPLIES THE AWARDS TOWARD THE TUITION FOR THAT SCHOOL YEAR. THE SCHOOL RECEIVED A DONATION WHICH FUNDS A MERIT-BASED ENDOWMENT WHEREBY A LIMITED NUMBER OF MERIT SCHOLARSHIPS ARE AWARDED ANNUALLY. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 PENNY EVINS PRESIDENT/HEAD OF SCHOOL 268477 0 0 0 47745 0 59800 0 52254 0 428276 0 0 0 PHYLLIS PALMIERO TREASURER/ VP OF FINANCE 249151 0 0 0 2516 0 26040 0 29179 0 306886 0 0 0 KRISTEN M WILLIAMS VP OF DEVELOPMENT 142960 0 0 0 1350 0 10500 0 49252 0 204062 0 0 0 SUSAN R DROKE CHIEF ACADEMIC OFFICER 151895 0 0 0 4442 0 11368 0 24725 0 192430 0 0 0 PATRICK E LOACH HEAD OF UPPER SCHOOL 145107 0 0 0 1172 0 16080 0 46529 0 208888 0 0 0 KAREN S DOXEY ATHLETIC DIRECTOR 132634 0 0 0 1262 0 13570 0 18457 0 165923 0 0 0 DEBORAH I MILLER HEAD OF LOWER SCHOOL 129589 0 0 0 2565 0 13125 0 10664 0 155943 0 0 0 STEPHEN HICKMAN FORMER PRESIDENT/HEAD OF SCHOOL 233539 0 90183 0 210501 0 17005 0 20821 0 572049 0 189000 0 PART I, LINE 1A THE HEAD OF SCHOOL RECEIVES CERTAIN ADDITIONAL BENEFITS THAT ARE TYPICAL COMPONENTS OF AN EXECUTIVE LEVEL COMPENSATION PACKAGE AMONG INDEPENDENT SCHOOLS. THESE BENEFITS PRIMARILY INCLUDE A HOUSING ALLOWANCE AND AN AMOUNT THAT REPRESENTS ADDITIONAL RETIREMENT CONTRIBUTIONS WHICH ARE GROSSED UP TO PROVIDE FOR THE TAX LIABILITY ASSOCIATED WITH THEM. NATIONALLY AND LOCALLY, MANY HEADS OF SCHOOLS ARE PROVIDED A HOME ON CAMPUS, WHEN ONE EXISTS. WHEN ONE DOES NOT EXIST ON CAMPUS, AS IS THE CASE AT COLLEGIATE SCHOOL, IT IS CUSTOMARY TO PROVIDE A HOUSING ALLOWANCE TO THE HEAD OF SCHOOL. THE HOUSING ALLOWANCE IS A TAXABLE BENEFIT AND INCLUDED IN HIS/HER BASE COMPENSATION. COMPANION TRAVEL WAS ALSO PROVIDED TO THE HEAD OF SCHOOL THIS YEAR AND THE AMOUNT PAID WAS TREATED AS A TAXABLE BENEFIT. PART I, LINE 3 THE COMPENSATION COMMITTEE REVIEWS THE INDEX (INDEPENDENT DATA EXCHANGE) REPORT ON THE SALARIES AND TOTAL COMPENSATION FOR THE HEADS OF SCHOOLS. THE INDEX BENCHMARKING GROUP CONSISTS OF APPROXIMATELY 50 K-12 CO-EDUCATIONAL DAY SCHOOLS ACROSS THE NATION WITH SIMILAR MISSIONS TO COLLEGIATE SCHOOL. THE COMMITTEE ALSO REVIEWS ANY OTHER COMPARISONS THAT MAY BE AVAILABLE AT THAT TIME. A EDA OF THE COUNTY OF HENRICO 541197472 42605PCM5 2010-11-04 15988433 SEE PART VI 0 0 0 B EDA OF THE COUNTY OF HENRICO 541197472 42605PDC6 2012-04-19 24183447 SEE PART VI 1 0 0 C EDA OF THE COUNTY OF HENRICO 541197472 000000000 2017-12-20 7710000 SEE PART VI 0 0 0 A 7855000 15988433 313345 15675088 1999 1 0 1 1 B 6880000 24228100 433186 23794914 2013 0 0 1 1 C 3125000 7719131 111888 2015268 5591975 2018 1 1 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 1 0 0 0 0 1 B 0 0 1 1 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: EDA OF THE COUNTY OF HENRICO DATE THE REBATE COMPUTATION WAS PERFORMED: 03/14/2014 ISSUER NAME: EDA OF THE COUNTY OF HENRICO DATE THE REBATE COMPUTATION WAS PERFORMED: 03/27/2014 SCHEDULE K, PART I, LINE A, COL (F): REFUND OUTSTANDING AMOUNT ON BOND ORIGINALLY ISSUED 12/30/1998 SCHEDULE K, PART I, LINE B, COL (F): CAPITAL IMPROVEMENT PROJECTS SUCH AS BUILDINGS, EQUIPMENT, ROADS, PARKING, AND SITE IMPROVEMENTS SCHEDULE K, PART I, LINE D, COL (F): CAPITAL IMPROVEMENTS, CURRENT REFUNDING, AND ADVANCED REFUNDING OF PARTIAL AMOUNT ON 2012 HENRICO SERIES ON LINE B SCHEDULE K, PART II, LINE 3, COL (B): THE TOTAL PROCEEDS OF ISSUE DOES NOT EQUAL THE ISSUE PRICE IN PART I DUE TO INVESTMENT EARNINGS ON BOND PROCEEDS WHILE AWAITING EXPENDITURE. SCHEDULE K, PART IV, LINE 2B, COL (C): ALTHOUGH THE FIVE YEAR PERIOD DOES NOT END UNTIL 2022, THE SCHOOL ENGAGED THE SERVICES OF A THIRD PARTY TO PERFORM AN ARBITRAGE REBATE CALCULATION IN SEPTEMBER 2019. THE RESULT OF THAT REPORT IS THAT NO REBATE IS DUE. THE PROCEEDS WERE SPENT WITHIN THE TWO YEAR TIMEFRAME. ROBERT S UKROP TRUSTEE 92674 FACILITY USE 0 X 242370 FAIR MARKET VALUE X 58 141951 MEAN VALUE 0 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B TO PROTECT DONOR PRIVACY, THE SCHOOL DOES NOT PROVIDE SCHEDULE B TO THE BOARD OF TRUSTEES. HOWEVER, A FULL PUBLIC DISCLOSURE COPY OF THE FORM 990 IS PROVIDED TO THE BOARD FOR ITS REVIEW BEFORE IT IS FILED AND POSTED ON THE BOARD'S INTRANET WEBSITE. THE FORM 990 IS REVIEWED BY THE SCHOOL'S SENIOR MANAGEMENT AS WELL AS THE SCHOOL'S INDEPENDENT ACCOUNTING FIRM CHERRY BEKAERT LLP. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR, ALL OFFICERS, TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST STATEMENT, NOTING ANY RELATIONSHIPS AND/OR CONFLICTS THEY HAVE WITH COLLEGIATE SCHOOL. BY SIGNING, THEY ACKNOWLEDGE THAT THEY HAVE RECEIVED A COPY OF THE SCHOOL'S CONFLICT OF INTEREST POLICY. THE STATEMENTS ARE KEPT ON FILE WITH BOTH THE BOARD SECRETARY AND THE BUSINESS OFFICE AND ARE REFERRED TO THROUGHOUT THE YEAR AS NEEDED. THE FOLLOWING IS AN EXCERPT FROM COLLEGIATE SCHOOL'S BOARD OF TRUSTEES CONFLICT OF INTEREST POLICY: "AN OFFICER, TRUSTEE OR STAFF MEMBER WHO HAS A CONFLICT OF INTEREST WILL NEITHER PARTICIPATE IN NOR EXERT HIS OR HER PERSONAL INFLUENCE WITH RESPECT TO THE MATTER OR BE PERMITTED TO HEAR THE BOARD'S OR COMMITTEE'S DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. IN THE EVENT THAT AN OFFICER, TRUSTEE, OR STAFF MEMBER DOES HAVE A CONFLICT OF INTEREST WITH RESPECT TO A MATTER, THEY WILL BE INELIGIBLE TO VOTE AND THIS WILL BE REFLECTED IN THE MINUTES." FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, WHICH IS COMPRISED OF THE CURRENT AND PAST CHAIRS AND THE VICE-CHAIR, IS CHARGED WITH REVIEWING THE PERFORMANCE AND ESTABLISHING COMPENSATION LEVELS FOR THE HEAD OF SCHOOL. THE PROCESS BEGINS WITH A SET OF ANNUAL GOALS DEVELOPED BY THE HEAD OF SCHOOL AND THE FULL BOARD. TO BEGIN THE PERFORMANCE REVIEW DISCUSSION, THE COMMITTEE SOLICITS FEEDBACK FROM THE BOARD ON HOW WELL THOSE GOALS HAVE BEEN MET. IN ADDITION, THE COMMITTEE REVIEWS THE SELF-APPRAISAL PREPARED BY THE HEAD OF SCHOOL. AS PART OF ITS COMPENSATION CONSIDERATIONS, THE COMMITTEE REVIEWS THE INDEX (INDEPENDENT DATA EXCHANGE) REPORT ON THE SALARIES AND TOTAL COMPENSATION FOR THE HEADS OF SCHOOLS. THE INDEX BENCHMARKING GROUP CONSISTS OF APPROXIMATELY 50 K-12 CO-EDUCATIONAL DAY SCHOOLS ACROSS THE NATION WITH SIMILAR MISSIONS TO COLLEGIATE SCHOOL. THE COMMITTEE ALSO REVIEWS ANY OTHER COMPARISONS THAT MAY BE AVAILABLE AT THAT TIME. THE COMMITTEE'S PROCESS AND DECISIONS ARE COMMUNICATED TO THE VICE PRESIDENT OF FINANCE AND HUMAN RESOURCES MANAGER AND ARE DOCUMENTED IN THE FORM OF A MEMORANDUM TO THE FILE. WITH RESPECT TO THE COMPENSATION OF OTHER KEY EMPLOYEES, THE SCHOOL USES NATIONAL BENCHMARKING DATA FROM APPROXIMATELY 50 LIKE INDEPENDENT SCHOOLS, INCLUDING COMPENSATION SURVEYS. THE SALARIES ARE DETERMINED BASED ON THIS DATA, IN ADDITION TO JOB DUTIES AND RESPONSIBILITIES, EXPERTISE, AND THE MARKET FOR THOSE SKILLS AND EXPERTISE ARE COMPENSATION FACTORS AS WELL. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE GENERALLY NOT AVAILABLE TO THE PUBLIC, ALTHOUGH ITS ARTICLES OF INCORPORATION ARE PUBLICLY AVAILABLE THROUGH THE VIRGINIA STATE CORPORATION COMMISSION'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 64,323. CHANGE IN VALUE OF BENEFIT PLAN OBLIGATION -154,941. POWELL ECONOMIC EDUCATION FOUNDATION 103 NORTH MOORELAND ROAD RICHMOND VA 23229 208565566 SUPPORTING ORGANIZATION VA 501(C)(3) LINE 12A, I THE COLLEGIATE SCHOOL 1 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0