2020-06-19T10:21:06-05:00 2019-06-30 620713250 KRAFTCPAS PLLC 555 GREAT CIRCLE ROAD NASHVILLE TN 37228 990 2018-07-01 620401875 THE WEBB SCHOOL WEBB 9313899322 PO BOX 488 BELL BUCKLE TN 37020 JIM CALLIS CFO 9313899322 2020-06-19 1 FRANCES E LEAHY P00713593 6152427351 2020-06-16 65.198.206.98 2020-06-19 10:13:26 CD P 81C9AF68B6AF83A353B2446691C8E08A150718FC 572DC34321C8E55952FE6A1E0B7461300318CAEB 2018 2020-11-19 02:30:22Z JIM CALLIS PO BOX 488 BELL BUCKLE TN 37020 14353988 0 X WWW.THEWEBBSCHOOL.COM X 1921 TN THE OLDEST CONTINUOUSLY OPERATING BOARDING SCHOOL IN THE SOUTH, EDUCATING GRADES 6-12. 22 22 167 30 -2302 0 906498 1662408 9363118 9475805 1918453 1802586 93755 185777 12281824 13126576 2028830 2100793 0 0 5267856 5661863 0 0 809845 4413624 4642782 11710310 12405438 571514 721138 50128917 56629409 4598431 9654837 45530486 46974572 TO TURN OUT YOUNG PEOPLE WHO ARE TIRELESS WORKERS, AND WHO KNOW HOW TO WORK EFFECTIVELY; WHO ARE ACCURATE SCHOLARS; WHO KNOW THE FINER POINTS OF MORALS AND PRACTICE THEM IN THEIR DAILY LIVING; WHO ARE ALWAYS COURTEOUS. 0 0 8795958 2100793 9942972 THE WEBB SCHOOL HAS A 150-YEAR HISTORY OF EXCELLENCE IN SHAPING THE MINDS AND CHARACTERS OF STUDENTS IN GRADES 6-12. OUR SMALL PRIVATE BOARDING SCHOOL COMMUNITY IS COMPRISED OF 301 DAY AND BOARDING STUDENTS FROM 17 COUNTRIES AND 14 STATES. WE EMPHASIZE INDEPENDENT THINKING, CREATIVE INITIATIVE, PERSONAL INTEGRITY, AND CIVIC RESPONSIBILITY. A CHALLENGING ACADEMIC CURRICULUM INCLUDES WEBB'S SIGNATURE EMERGING VOICES PROGRAM, WHICH TEACHES STUDENTS THE VALUE OF PUBLIC SPEAKING AND WRITING. WEBB'S EXTENSIVE OUTDOOR PROGRAM, COMPETITIVE ATHLETIC TEAMS, AND TRAVEL ABROAD OPPORTUNITIES, ALSO HELP PREPARE GRADUATES FOR COLLEGE AND FOR LIFE. WEBB AWARDS ABOUT $2 MILLION IN FINANCIAL AID AND SCHOLARSHIPS TO DESERVING STUDENTS THANKS TO THE GENEROUS SUPPORT OF ALUMNI, FAMILY AND FRIENDS OF THE SCHOOL. 8795958 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 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 39 0 1 167 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X X RAYMOND BROADHEAD 9313899322 319 HWY 82 BELL BUCKLE TN 370200488 RAY BROADHEAD HEADMASTER 50.00 X 262868 0 36710 JOE IORIO END 0220 CFO/ASSISTANT HEADMASTER 45.00 X 150857 0 20003 VANCE BERRY CHAIR 2.00 X X 0 0 0 JIM CALLIS CFO (BEGIN 6/1/2020) 0.00 X 0 0 0 DREW CARRINGTON VICE CHAIR 1.00 X X 0 0 0 IRVIN ASHFORD TRUSTEE 0.50 X 0 0 0 ED BARKER TRUSTEE 0.50 X 0 0 0 BEN BLAKELEY TRUSTEE 0.50 X 0 0 0 DAVID BROWN TRUSTEE 0.50 X 0 0 0 TOM COOPER TRUSTEE 0.50 X 0 0 0 SCOTT CRICHTON TRUSTEE 0.50 X 0 0 0 STEPHEN GRAHAM TRUSTEE 0.50 X 0 0 0 GEORGE HUDDLESTON JR TRUSTEE 0.50 X 0 0 0 PAUL GREGORY JENNINGS TRUSTEE 0.50 X 0 0 0 EFFIE JOHNSON TRUSTEE 0.50 X 0 0 0 SAM LASSETER TRUSTEE 0.50 X 0 0 0 PAT MEADOWS TRUSTEE 0.50 X 0 0 0 JOSEPH MOONEY TRUSTEE 0.50 X 0 0 0 MARY MOSS TRUSTEE 0.50 X 0 0 0 MATTHIAS BRICKELL MURFREE TRUSTEE 0.50 X 0 0 0 GEORGE PINE TRUSTEE 0.50 X 0 0 0 WILSON SIMS JR TRUSTEE 0.50 X 0 0 0 BRIAN SINGER TRUSTEE 0.50 X 0 0 0 CHASE SPURLOCK TRUSTEE 0.50 X 0 0 0 FARRAR SCHAEFFER VAUGHAN TRUSTEE 0.50 X 0 0 0 413725 0 56713 2 0 1 0 SAGE DINING SERVICES 1402 YORK ROAD LUTHERVILLE MD 21093 FOOD SERVICE 629576 1 44542 1617866 251849 1662408 TUITION AND FEES 611110 9438926 9438926 AUXILIARY ENTERPRISES AND ACTIVIT 900099 36879 36879 9475805 1465607 1465607 26751 29053 -2302 -2302 -2302 1510254 1800 1173147 1928 337107 -128 336979 336979 81175 44542 23284 57891 57891 MISCELLANEOUS INCOME 611600 130188 130188 130188 13126576 9942972 -2302 1523498 2100793 2100793 466672 74888 316896 74888 4027247 2857317 823582 346348 191677 126697 52615 12365 681081 390319 235521 55241 295186 194768 73778 26640 29531 8859 14766 5906 54986 16496 27493 10997 260194 260194 140917 58505 43748 38664 84676 84676 121421 39010 71932 10479 423 423 297304 268988 25411 2905 78408 12066 42901 23441 5358 2980 745 1633 109637 92094 15350 2193 910972 801654 91098 18220 110795 65609 39538 5648 REPAIRS AND MAINTENANCE 1007273 869626 111349 26298 MISCELLANEOUS 292236 160912 79576 51748 FOOD 281764 239690 42074 BAD DEBT 190515 187015 3500 666372 414264 159377 92731 12405438 8795958 2799635 809845 815901 251304 859813 1627826 636557 869314 15986 5286156 54213 49062 131060 97746 29935004 15859315 14673991 14075689 16240228 17268253 16375989 16766048 325179 338011 50128917 56629409 531974 447327 1065521 6243756 2925600 2811600 75336 152154 4598431 9654837 X 18648981 18708523 12664433 0 14217072 28266049 45530486 46974572 50128917 56629409 X 721138 742910 -19962 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 32616217 576542 2241542 1400000 34034301 29805817 294154 3869989 1350000 3743 32616217 26412369 368136 4392392 1336120 30960 29805817 27740635 192344 -200936 73640 1246034 26412369 28303198 164682 495841 168654 1054432 27740635 0.20000 0.80000 1 0 106884 106884 24296179 13122618 11173561 2430099 2257893 172206 3101842 478804 2623038 14075689 LAND 38335 F OTHER BELOW $25,000 10061 F COLLECTIVE INVESTMENT TRUST FUND 1853611 F LIMITED PARTNERSHIPS 5792899 F INTERNATIONAL EQUITY 3433678 F PRIVATE EQUITY 2367087 F REAL ESTATE ASSETS 2337840 F INTERNATIONAL BOND FUND 932537 F 16766048 AGENCY FUNDS 70779 INTEREST RATE SWAP CONTRACT 56078 DEFERRED COMPENSATION 25297 152154 X 11493795 742910 -5467 737443 10756352 260194 2110030 2370224 13126576 10049709 14495 14495 10035214 260194 2110030 2370224 12405438 PART V, LINE 4: THE SCHOOL'S ENDOWMENT FUND IS USED TO HELP SUPPORT THE OPERATIONS OF THE SCHOOL. IT IS SUBJECT TO A POLICY WHEREBY THE ANNUAL WITHDRAWAL FROM THE FUND IS CAPPED AT 4.75%. PART X, LINE 2: MANAGEMENT PERFORMS AN EVALUATION OF ALL INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE SCHOOL'S INCOME TAX RETURN TO DETERMINE WHETHER THE INCOME TAX POSITIONS MEET A "MORE LIKELY THAN NOT" STANDARD OF BEING SUSTAINED UNDER EXAMINATION BY THE APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS PERFORMED ITS EVALUATION OF ALL INCOME TAX POSITIONS TAKEN ON ALL OPEN INCOME TAX RETURNS AND HAS DETERMINED THAT THERE WERE NO POSITIONS TAKEN THAT DO NOT MEET THE "MORE LIKELY THAN NOT" STANDARD. ACCORDINGLY, THERE WERE NO PROVISIONS FOR INCOME TAXES, PENALTIES, OR INTEREST RECEIVABLE OR PAYABLE RELATING TO UNCERTAIN INCOME TAX POSITIONS IN THE ACCOMPANYING FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS ON INTEREST RATE SWAP -61,003. UNREALIZED GAIN ON SPLIT INTEREST AGREEMENT 17,757. UNRELATED BUSINESS INCOME - RENTAL EXPENSES 14,495. FUNDRAISING EXPENSES 23,284. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,100,793. FUNDRAISING REVENUES 9,237. PART XII, LINE 2D - OTHER ADJUSTMENTS: UNRELATED BUSINESS INCOME - RENTAL EXPENSES 14,495. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,100,793. FUNDRAISING EXPENSES 9,237. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL PUBLISHES THE NONDISCRIMINATION POLICY IN THE LOCAL NEWSPAPER IN THE FALL EACH YEAR AND IN THE SCHOOL PUBLICATIONS AND THE POLICY IS ALSO POSTED ON THE SCHOOL'S WEBSITE CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 5792899 0 0 0 0 0 0 5792899 0 5792899 0 0 0 0 0 0 PART IV: THE US TRANSFEROR IS A TAX-EXEMPT ENTITY AND THE INCOME WAS NOT UNRELATED BUSINESS INCOME. BELLS AND BUCKLES 101239 44542 56697 708 14152 3081 5343 BELL BUCKLE CRAFT FAIR 24478 24478 125717 44542 81175 708 14152 3081 5343 23284 57891 1 FINANCIAL AID 171 2100793 FMV STUDENT FINANCIAL AID PART I, LINE 2: THE SCHOOL IS COMMITTED TO PROVIDING FINANCIAL AID TO STUDENTS WHO WOULD OTHERWISE BE UNABLE TO ATTEND THE SCHOOL. THE COMPLETION OF THE FINANCIAL AID APPLICATION DOES NOT HAVE ANY BEARING UPON WHETHER THE STUDENT IS ADMITTED TO THE SCHOOL. THE SCHOOL DETERMINES A FAMILY'S CONTRIBUTION BASED UPON THE EVALUATION COMPLETED BY THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID, AN UNAFFILIATED ENTITY IN NEW JERSEY WHO PERFORMS SIMILAR SERVICES FOR OTHER SCHOOLS THROUGHOUT THE COUNTRY. FINANCIAL AID FORMS MUST BE COMPLETED EACH YEAR BY THE STUDENT AND MONITORED BY THE SCHOOL TO REEVALUATE THE AMOUNT OF THE FINANCIAL AID. X X 0 1 X X X X 0 1 0 0 0 0 0 1 0 RAY BROADHEAD HEADMASTER 245893 0 16975 0 0 0 0 0 36710 0 299578 0 0 0 JOE IORIO END 0220 CFO/ASSISTANT HEADMASTER 150857 0 0 0 0 0 0 0 20003 0 170860 0 0 0 PART I, LINE 1A: WEBB SCHOOL PROVIDES A RESIDENCE ON CAMPUS FOR ITS HEADMASTER. IT IS A CONDITION OF EMPLOYMENT SINCE WEBB IS A BOARDING SCHOOL. IT IS DEEMED NECESSARY FOR THE HEADMASTER TO REMAIN ON CAMPUS TO HELP OVERSEE STUDENT ACTIVITIES. MR. BROADHEAD ENTERTAINS STUDENTS, FACULTY, PARENTS, TRUSTEES AND ALUMNI AT THE HOUSE. THE SCHOOL PROVIDES A DISCRETIONARY SPENDING ACCOUNT FOR THE HEADMASTER. DURING THE CURRENT YEAR $17,336.56 WAS SPENT FROM THIS ACCOUNT. PART I, LINE 1B: AS EXPLAINED ABOVE THE USE OF A RESIDENCE ON CAMPUS BY THE HEADMASTER IS REQUIRED AS A CONDITION OF EMPLOYMENT. THIS ARRANGEMENT IS APPROVED BY THE BOARD OF DIRECTORS. PART I, LINE 3: THE PERSONNEL COMMITTEE OF THE BOARD MEETS PERIODICALLY AND WHEN COMPENSATION ADJUSTMENTS ARE MADE TO THE HEADMASTER SALARY THEY REVIEW COMPARABLE PUBLISHED DATA THAT IS AVAILABLE TO ASSIST THEM IN MAKING COMPENSATION ADJUSTMENTS. PART I, LINE 7: THE HEADMASTER RECEIVED A DISCRETIONARY BONUS APPROVED BY THE BOARD OF DIRECTORS. A INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF SHELBYVILLE TENNESSEE 521393194 2012-10-15 5000000 REFINANCE EXISTING DEBT AND CONSTRUCT NEW SCHOOL CLASSROOMS AND DORMS 0 1 0 A 1103325 3914925 26385 3067540 821000 2016 1 0 0 1 A 0 0 0 0 0 0 0 A 0 1 1 0 1 1 SUNTRUST BANK 10.000000000000 0 0 0 0 0 A 0 158490 TUITION REMISSION EMPLOYEE BENEFITS X 11 224695 SUBSEQUENT SELLING PRICE X IRON BED/GATE 1 1000 SELLING PRICE X DYNAMITE CREPE MYRTLE TREES 3 132 SELLING PRICE X BOOK 1 64 SELLING PRICE 0 0 0 PART I, COLUMN (B): COLUMN B LISTS THE NUMBER OF CONTRIBUTIONS FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE PUBLIC DISCLOSURE VERSION OF FORM 990 WAS EMAILED TO THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD CHAIR, BUSINESS MANAGER, AND HEADMASTER WORK CLOSELY ENOUGH THROUGHOUT THE YEAR TO MONITOR ACTIVITIES OF BOARD MEMBERS TO ENSURE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL REVIEWS NAIS DATA AND FORM 990S OF OTHER SIMILAR SCHOOLS WHEN IT DETERMINES COMPENSATION FOR KEY EMPLOYEES AND TOP SCHOOL OFFICIALS WHICH IS APPROVED BY THE EXECUTIVE COMMITTEE OF THE GOVERNING BOARD. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE GENERAL PUBLIC. FORM 990, PART XI, LINE 9: UNREALIZED GAIN/LOSS ON INTEREST RATE SWAP -61,003. UNREALIZED GAIN/LOSS ON SPLIT INTEREST AGREEMENT 17,757. UNRELATED BUSINESS INCOME - RENTAL EXPENSES 14,495. FUNDRAISING EXPENSES 23,284. FUNDRAISING REVENUES -9,237. UNRELATED BUSINESS INCOME - RENTAL EXPENSES -14,495. FUNDRAISING EXPENSES 9,237. FORM 990, PART XII, LINE 2C THE OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND THE SELECTION PROCESS OF AN INDEPENDENT ACCOUNTANT THAT AUDITED THE FINANCIAL STATEMENTS HAS NOT CHANGED FROM THE PRIOR YEAR.