2020-07-14T14:33:43-05:00 2019-06-30 WITHUM SMITH BROWN PC 506 CARNEGIE CENTER STE 400 PRINCETON NJ 085406243 990 2018-07-01 210635004 The Pennington School % J GRAEME MCWHIRTER PENN 6097371838 112 W Delaware Ave Pennington NJ 08534 J GRAEME MCWHIRTER CFO 6097376120 2020-07-15 true Glenn Bellomy P00579162 6095201188 65.119.199.60 22006220201965001893 2020-07-14 P 0509C29C70395331006511B37B3D6BCBED833A4B 5DDB76D520D60039BC1B87210C1A6D9242802FF0 2018 2021-01-29 14:40:06Z J GRAEME MCWHIRTER 112 W Delaware Ave Pennington NJ 08534 32947336 false X WWW.PENNINGTON.ORG X 1838 NJ THE PENNINGTON SCHOOL IS AN INDEPENDENT CO-EDUCATIONAL SCHOOL SERVING DAY AND BOARDING STUDENTS IN GRADES 6-12. WE ARE DEDICATED TO DEVELOPING EXCELLENCE IN ALL STUDENTS. 34 33 263 210 98109 97109 2836521 2611427 23836468 25054184 3446089 3737496 562362 440579 30681440 31843686 5740425 5672643 0 0 12923551 13890248 0 0 1448560 9865974 10249385 28529950 29812276 2151490 2031410 86280043 86721055 22924213 23536995 63355830 63184060 THE PENNINGTON SCHOOL IS AN INDEPENDENT CO-EDUCATIONAL SCHOOL SERVING DAY AND BOARDING STUDENTS IN GRADES 6-12. THE SCHOOL IS DEDICATED TO DEVELOPING INDIVIDUAL EXCELLENCE IN ALL OF ITS STUDENTS. false false 22086630 5672643 25295795 COEDUCATIONAL DAY/BOARDING SCHOOL SERVICING GRADES 6 THROUGH 12. THERE ARE APPROXIMATELY 525 STUDENTS. 22086630 true true false false false false false false false true true false false false true true true false true false true false false false true false false false true true true false false false false false false true true true true true false false false false false false false false true 106 0 true 263 true true true false false false false true true false false false false false false X 34 33 false false false false true true true true true false false true true true true true true true false false X J GRAEME MCWHIRTER 6097371838 112 W DELAWARE AVE PENNINGTON NJ 08534 DR WILLIAM S HAWKEY HEADMASTER 40.0 0.0 X X 360771 0 134708 REV HECTOR BURGOS TRUSTEE 2.0 0.0 X 0 0 0 VERNON H HAMMOND II TRUSTEE 2.0 0.0 X 0 0 0 A LOUIS DENTON ESQ TRUSTEE 2.0 0.0 X 0 0 0 MICHAEL D JINGOLI TRUSTEE 2.0 0.0 X 0 0 0 DENNIS S KEATING TRUSTEE 2.0 0.0 X 0 0 0 JACK GREEN TRUSTEE 2.0 0.0 X 0 0 0 REV DR DONALD MEDLEY TRUSTEE 2.0 0.0 X 0 0 0 REV DR DAVID C MERTZ TRUSTEE 2.0 0.0 X 0 0 0 BISHOP JOHN R SCHOL TRUSTEE 2.0 0.0 X 0 0 0 STEVEN M SILBERMAN TRUSTEE 2.0 0.0 X 0 0 0 JORDAN M GRAY TRUSTEE 2.0 0.0 X 0 0 0 PETER J TUCCI ESQ TRUSTEE 6.0 0.0 X 0 0 0 REV DR VIRGINIA SAMUEL CETUK TRUSTEE 2.0 0.0 X 0 0 0 DAN MAHONY TRUSTEE 2.0 0.0 X 0 0 0 TIMOTHY C VILE TRUSTEE 2.0 0.0 X 0 0 0 STEPHEN TAN TRUSTEE 2.0 0.0 X 0 0 0 JOHN S BIDDISCOMBE TRUSTEE 2.0 0.0 X 0 0 0 DAVID J LONG III TRUSTEE 2.0 0.0 X 0 0 0 WILLIAM OLDSEY TRUSTEE 2.0 0.0 X 0 0 0 MATTHEW PAULS TRUSTEE 2.0 0.0 X 0 0 0 DR JULIE WULF TRUSTEE 4.0 0.0 X 0 0 0 KEN R ZIRK TRUSTEE 2.0 0.0 X 0 0 0 PHILIP BANCROFT TRUSTEE 2.0 0.0 X 0 0 0 HONORABLE HAROLD GEORGE TRUSTEE 2.0 0.0 X 0 0 0 ILANA GUTIERREZ TRUSTEE 2.0 0.0 X 0 0 0 DAVID MARLOW TRUSTEE 2.0 0.0 X 0 0 0 JUDITH ROSENBERG TRUSTEE 2.0 0.0 X 0 0 0 MARLYNNE MARLOW TRUSTEE 2.0 0.0 X 0 0 0 DR CECILIA ROUSE TRUSTEE 2.0 0.0 X 0 0 0 BRENDA O'LOUGHLIN TRUSTEE 2.0 0.0 X 0 0 0 JASON RIDINGS TRUSTEE 2.0 0.0 X 0 0 0 ERICH STEGICH TRUSTEE 2.0 0.0 X 0 0 0 DR JIAN JIM WANG TRUSTEE 2.0 0.0 X 0 0 0 J GRAEME MCWHIRTER CHIEF FINANCIAL OFFICER 40.0 0.0 X 195796 0 20189 TODD PAIGE HEAD OF THE MIDDLE SCHOOL 40.0 0.0 X 117151 0 21656 THOMAS LIWOSZ FACULTY MEMBER 40.0 0.0 X 105627 0 46666 JOANNAH PROCKOP DIRECTOR THE LEARNING CENTER 40.0 0.0 X 111087 0 12987 CHARLIE BROWN DIRECTOR OF ADVANCEMENT 40.0 0.0 X 192466 0 29224 ROBERET L JONES DIRECTOR OF OPERATIONS 40.0 0.0 X 114672 0 2580 1197570 0 268010 9 false true false SODEXO INC AFFILIATES 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 DINING SERVICES 1497522 Krystal Construction Services LLC 1 Lippincott Ave Suite 2 VOORHEES NJ 08043 construction 457582 BAY LANDSCAPING CO INC 2206 TAYLORS POND ROAD JOBSTOWN NJ 08041 CONSTRUCTION 1288499 ADAMS-BICKEL ASSOCIATES LLC 341 N 10TH AVENUE SUITE 206 ROYERSFORD PA 19468 CONSTRUCTION 2063713 VOITH MACTAVISH ARCHITECTS LLP 2401 WALNUT STREET 6TH FLOOR PHILADELPHIA PA 19103 ARCHITECT 482193 5 73964 2537463 304724 2611427 TUITION & FEES 611110 25054184 25054184 25054184 890270 890270 0 0 252358 106084 146274 0 146274 92864 53410 3687143 839917 2847226 2847226 2847226 27202 73964 27202 0 0 0 159036 130447 28589 28589 OTHER 900099 260471 260471 YEARBOOK ADVERTISING 541800 5245 5245 265716 31843686 25314655 98109 3819495 0 5672643 5672643 0 0 0 568290 386437 147755 34098 0 10223890 6952245 2658212 613433 697406 474236 181326 41844 1615961 1098853 420150 96958 784701 533597 204022 47082 0 21780 14810 5663 1307 60000 40800 15600 3600 0 0 166891 113486 43392 10013 260196 176933 67651 15612 33734 22939 8771 2024 754050 512754 196053 45243 77638 52794 20186 4658 0 1142969 777219 297172 68578 0 0 113211 76983 29435 6793 432196 293893 112371 25932 0 3157877 2147356 821048 189473 186726 126973 48549 11204 FOOD SERVICES 1438128 977927 373913 86288 INSTRUCTIONAL EXPENSES 990201 673337 257452 59412 HEADMASTER OFFICE 236103 160550 61387 14166 ADMINISTRATIVE 440565 299584 114547 26434 737120 500281 192431 44408 29812276 22086630 6277086 1448560 X 0 0 6153716 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6048132 31843686 24119877 355733 355733 23764144 167333 5880799 6048132 29812276 SCHEDULE D, PART X, LINE 2 Income Tax Status The Internal Revenue Service has classified the School as a tax-exempt corporation under Section 501(c)(3) of the Internal Revenue Code. However, income from certain activities that is not directly related to the Schools tax-exempt purpose is subject to taxation as unrelated business income. In addition, the School qualifies for the charitable contribution deduction under Section 170(b)(1)(A) and has been classified as an organization that is not a private foundation under Section 509(a)(2). Accounting for Uncertain Tax Positions Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the School and recognize a tax liability (or asset) if the School has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Management has analyzed the tax positions taken by the School, and has concluded that as of June 30, 2019, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The School files a tax return in the U.S. federal jurisdiction and has no income tax related penalties and interest for periods presented in these financial statements. Should any such penalties and interest be incurred, the School's policy would be to recognize them as operating expenses. In the normal course of business, the School is subject to examination by taxing authorities. As of June 30, 2019 and through the date of this report there are no on-going audits or unresolved disputes with the various tax authorities that the School files with. As of June 30, 2019, the School had no unrecognized tax benefits. SCHEDULE D, PART XI, LINE 2D COST OF GOODS SOLD............................... 130,447 RENTAL EXPENSES.................................. 106,084 SPECIAL EVENTS EXPENSES.......................... 27,202 ---------------------------------------------------------------- TOTAL............................................ 263,733 SCHEDULE D, PART XII, LINE 2D COST OF GOODS SOLD................................ 130,447 RENTAL EXPENSES................................... 106,084 SPECIAL EVENT EXPENSES............................ 27,202 BAD DEBT EXPENSE.................................. 92,000 ----------------------------------------------------------------- TOTAL............................................. 355,733 SCHEDULE D, PART XII, LINE 4B FINANCIAL AID..................................... 5,672,643 Other expenses netted on financial statements..... 208,156 ------------------------------------------------------------------ Total............................................. 5,880,799 SCHEDULE D, PART XI, LINE 4B FINANCIAL AID..................................... 5,672,643 Other expenses netted on financial statements..... 208,156 ------------------------------------------------------------------ Total............................................. 5,880,799 true true true true true true true false false false false false false false false false false true PART 1, LINE 3: NONDISCRIMINATORY POLICY NOTICE THE SCHOOL STATES ITS NON-DISCRIMINATORY POLICY ON ITS WEBSITE, MARKETING MATERIALS USED BY THE ADMISSION OFFICE, AND PRINT ADVERTISEMENTS THROUGH THE NEW JERSEY ASSOCIATION OF INDEPENDENT SCHOOLS. East Asia and the Pacific 0 0 Fundraising 33221 0 0 0 0 33221 33221 false false false false false false auction 101166 73964 27202 27202 0 101166 73964 27202 27202 27202 true FINANCIAL AID 183 5669643 FMV SCHOLARSHIPS/TUITION SEE EXPLANATION FOR PART I, LINE 2 THERE WERE 183 RECIPIENTS OF FINANCIAL AID AND 35 RECIPIENTS OF TUITION REMISSION. TUITION REMISSION IS AWARDED FOR ONE STUDENT PER EMPLOYEE AT A TIME. FINANCIAL AID IS AWARDED ON A NEED BASIS USING INDUSTRY STANDARD FINANCIAL DISCLOSURES AND CALCULATIONS. X true true X X X X false true false false false false false false false DR WILLIAM S HAWKEY HEADMASTER 342197 0 0 0 18574 0 19250 0 115458 0 495479 0 0 0 J GRAEME MCWHIRTER CHIEF FINANCIAL OFFICER 195722 0 0 0 74 0 13855 0 6334 0 215985 0 0 0 THOMAS LIWOSZ FACULTY MEMBER 105578 0 0 0 49 0 7499 0 39167 0 152293 0 0 0 CHARLIE BROWN DIRECTOR OF ADVANCEMENT 192415 0 0 0 51 0 13855 0 15369 0 221690 0 0 0 PART I, LINE 4B - COMPENSATION QUESTIONS WILLIAM HAWKEY WAS PROVIDED A SUPPLEMENTAL PENSION IN 2018-2019. THE COST WAS $18,500. A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 2014-06-17 7500000 CONSTRUCTION/CAPITAL IMPROVEMENTS false false false B PUBLIC FINANCE AUTHORITY 273866124 2017-03-29 10000000 CONSTRUCTION/CAPITAL IMPROVEMENTS false false false A 0 0 0 0 0 0 0 0 0 0 0 0 false false true true B 0 0 0 0 0 0 0 0 0 0 0 0 false false true true A false false false false 0.00000 0.00000 0.00000 true false false true B false false false false 0.00000 0.00000 0.00000 true false false true A false true 0 0 B false true 0 0 A B false WILLIAM HAWKEY HEADMASTER 39650 TUITION REMISSION TUITION REMISSION WILLIAM SOLON HAWKEY SON OF HEADMASTER 55797 COMPENSATION AND BENEFITS false X 3 304724 FAIR VALUE false true false PART VI, SECTION B, LINE 12C THE SCHOOL REQUIRES ALL BOARD OF TRUSTEES, OFFICERS AND KEY EMPLOYEES TO SIGN ANNUAL CONFLICT OF INTEREST STATEMENTS. PART VI, SECTION B, LINE 15A THE HEADMASTER HAS BEEN IDENTIFIED AS AN OFFICER. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES MEETS TO DECIDE COMPENSATION. MEMBERS OF THE COMMITTEE ARE INDEPENDENT. A COMMITTEE MEMBER PREPARES COMPARABLE DATA FROM TAX RETURNS (USING GUIDESTAR) AND NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (COLLECTED BY CFO). THIS MATERIAL IS REVIEWED BY THE EXECUTIVE COMMITTEE. THE BOARD OF TRUSTESS RATIFIES COMMITTEE'S FINDINGS. ALL OTHER COMPENSATION IS DETERMINED BY THE HEADMASTER. PART VI, SECTION B, LINE 11 FORM 990 PREPARED BY INDEPENDENT ACCOUNTANTS, REVIEWED BY FINANCE COMMITTEE AND PROVIDED TO INDIVIDUAL TRUSTEES EITHER BY EMAIL OR AT A BOARD MEETING PRIOR TO FILING. PART VI, SECTION C, LINE 19 THE SCHOOL'S FORM 990 IS AVAILABLE ON WWW.GUIDESTAR.ORG. NO OTHER DOCUMENTS ARE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 5 NET UNREALIZED LOSSES ON INVESTMENTS FOR THE CURRENT FISCAL YEAR END INCLUDE THE FOLLOWING: UNREALIZED LOSS ON INVESTMENT ....................... 2,132,295 UNREALIZED GAIN ON SWAP AGREEMENT.................... (9,199) ---------------------------------------------------------------- TOTAL UNREALIZED LOSS ON INVESTMENTS....................... 2,123,096 FORM 990, PART XI, LINE 6 THE ORGANIZATION RECEIVED THE FOLLOWING IN-KIND GIFTS IN THE CURRENT FISCAL YEAR: IN-KIND CONTRIBUTION REVENUE.......................... 11,916 IN-KIND EXPENSES...................................... (0) ---------------------------------------------------------------- TOTAL IN-KIND CONTRIBUTIONS RECEIVED.................. 11,916 FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS FOR THE CURRENT FISCAL YEAR END INCLUDE THE FOLLOWING: BAD DEBT EXPENSE...................................... 92,000