2020-03-02T16:27:42-06:00 2019-06-30 WITHUMSMITHBROWNPC 4600 EAST WEST HWY 900 BETHESDA MD 208143423 990 2018-07-01 210634492 The Peddie School % MICHAEL B MCKITISH PEDD 6099447510 201 South Main Street Hightstown NJ 08520 MICHAEL B MCKITISH ASST HEAD OF FINANCE 6099447510 2020-02-20 true RICHARD L RUVELSON P00234075 3012726000 2020-02-20 4.26.115.170 22006220200625000640 2020-03-02 P B981F66FDC4803481292D253609C7685D36FC036 EBD8DFBC700724A96E49BF1A406FB658268A8823 2018 2020-09-23 17:36:50Z MICHAEL B MCKITISH 201 South Main Street Hightstown NJ 08520 86198046 false X www.peddie.org X 1879 NJ THE PEDDIE COMMUNITY COMMITS ITSELF to the intellectual, social, and moral growth of our students. WE challenge our students to reach for levels of achievement (See Sch O) 28 26 526 175 2088097 14191488 16780563 32125824 32866293 12198953 6686909 3064603 2322250 61580868 58656015 8845426 9027459 0 0 20536496 21232521 0 280505 2677146 18645318 17790307 48027240 48330792 13553628 10325223 484040539 495484650 37459207 32984735 446581332 462499915 X SEE SCHEDULE O. false false 37725725 8977914 32866293 A PRIVATE SECONDARY BOARDING/DAY SCHOOL ENROLLING 540 STUDENTS IN GRADES 9-12 AND POST GRADUATE DURING THE SCHOOL YEAR, AND ACADEMIC COURSES FOR STUDENTS IN GRADES 5 - 12 DURING THE SUMMER. EXPENSES INCLUDE FINANCIAL AID OF $8,977,914. 37725725 true true false false false false true true false true true true false false true true false true true false true false false true true false false true true true true false false false false false false false false false false true false false false true false false false false true 116 0 true 526 true true true false false false false true true false false false false false false X 28 26 false false false false false false false true true false false true true true true true true true true false NH X MICHAEL B MCKITISH 6099447510 201 SOUTH MAIN STREET HIGHTSTOWN NJ 085201010 X Elizabeth S Silverman Chairman/Trustee 1.0 0.0 X X 0 0 0 Douglas E Davidson Esq Treasurer/Trustee 1.0 0.0 X X 0 0 0 Kevin L MacMillan Secretary/Trustee 1.0 0.0 X X 0 0 0 Peter A Quinn Trustee/Headmaster 80.0 0.0 X X 497732 0 169082 Mitka T L Baker Trustee 1.0 0.0 X 0 0 0 Virginia Bauer Trustee 1.0 0.0 X 0 0 0 Susan W Caldwell Trustee 1.0 0.0 X 0 0 0 George C Chen Trustee 1.0 0.0 X 0 0 0 Jeffrey M Cruz Trustee 1.0 0.0 X 0 0 0 Sangu J Delle Esq trustee 1.0 0.0 X 0 0 0 Patrick W Dennis trustee 1.0 0.0 X 0 0 0 Roger A Durling trustee 1.0 0.0 X 0 0 0 Jeffrey Enslin trustee 1.0 0.0 X 0 0 0 Domingo Garcia trustee 1.0 0.0 X 0 0 0 Roy D Grossman trustee 1.0 0.0 X 0 0 0 Ralph Izzo trustee 1.0 0.0 X 0 0 0 Imad Labban trustee/teacher 50.0 0.0 X 45005 0 29036 Jeffrey Larsen trustee 1.0 0.0 X 0 0 0 John K Lloyd trustee 1.0 0.0 X 0 0 0 Sara L McGinty trustee 1.0 0.0 X 0 0 0 Michael T Nettles trustee 1.0 0.0 X 0 0 0 Sheryl Oliver trustee 1.0 0.0 X 0 0 0 Robert J Ruberton trustee 1.0 0.0 X 0 0 0 Siran Sahakian trustee 1.0 0.0 X 0 0 0 Gregory K Smith Esq trustee 1.0 0.0 X 0 0 0 Patricia Garcia Sullivan PhD Trustee 1.0 0.0 X 0 0 0 Tracey L Wetmore Trustee 1.0 0.0 X 0 0 0 Ning Zhao Trustee 1.0 0.0 X 0 0 0 Michael McKitish Asst Secretary/Asst Head Finan 50.0 0.0 X 273858 0 28992 Christopher Van Wyk Asst Treasurer/Controller 50.0 0.0 X 165088 0 18411 M Catherine Rodrigue Associate Head of School 50.0 0.0 X 169933 0 51042 Molly Dunne Director of Admissions 50.0 0.0 X 146440 0 56476 Ryan Bennett Director of Technology 50.0 0.0 X 135809 0 68831 Raymond H Cabot Asst. Head for Strategic Plan 50.0 0.0 X 132820 0 56026 Karyn Vella Assistant Head for Development 50.0 0.0 X 121524 0 43295 Timothy Corica Instructor 50.0 0.0 X 119336 0 28128 1807545 0 549319 20 false true false N CARNEVALE SONS INC 529 BRUNSWICK PIKE LAMBERTVILLE NJ 085302811 CONSTRUCTION 4064498 HANOVER CONSTRUCTION LLC PO BOX 158 WRIGHTSTOWN NJ 08562 CONSTRUCTION 1139256 DAKOTA BUILDING SERVICES INC 3 AQUA TERRACE HAMILTON NJ 08620 CUSTODIAL 968044 MONTICELLO ASSOCIATES INC 1800 LARIMER STREET DENVER CO 80202 INVESTMENT MGMT 360000 COZEN O'CONNOR 1650 MARKET STREET STE 2800 PHILADELPHIA PA 19103 LEGAL 272289 19 X 7924 16772639 10685267 16780563 TUITION AND FEES 611110 32866293 32866293 32866293 2705335 2705335 0 0 415733 131920 283813 0 283813 126430 157383 31143753 27036145 126034 4107608 -126034 3981574 3981574 40190 7924 158339 -118149 -118149 0 0 0 143283 89593 53690 -1867 55557 AQUATICS, GOLF COURSE, SUMMER PROGRAMS 713990 1963534 1963534 SNACK BAR 722513 72926 72926 MISCELLANEOUS 900099 66436 66436 2102896 58656015 32866293 2088097 6921062 X 49545 49545 8977914 8977914 0 0 1268127 273471 870611 124045 0 15442575 11480951 2604117 1357507 1251370 859873 284893 106604 2083178 1444352 461360 177466 1187271 837337 248791 101143 0 58964 58964 54525 54525 0 280505 280505 367500 367500 0 348147 5126 343021 263209 145058 56744 61407 872590 828821 43769 0 3390674 2976049 381815 32810 432745 272901 86147 73697 0 0 953163 923787 29376 0 6620067 5622274 954111 43682 510213 413974 83262 12977 FOOD SERVICES 807187 761442 45745 0 AUXILIARY 672002 71930 600072 0 ACADEMIC PROGRAM 453342 453342 ATHLETICS 352104 352104 1633875 975474 396867 261534 48330792 37725725 7927921 2677146 X 17043322 18683712 251253 0 7588680 12794666 374798 558283 0 0 0 0 0 0 123691 101559 319190 291450 201998085 90931445 110808976 111066640 103181000 98973000 241056000 250946614 0 0 0 0 3293629 2068726 484040539 495484650 6373381 4863596 0 0 6406848 6171112 24575218 21623658 0 0 0 0 0 0 0 0 103760 326369 37459207 32984735 X 184293000 192461393 50424000 44690737 211864332 225347785 446581332 462499915 484040539 495484650 X 10325223 5645896 -52536 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 2 3.50 1 true 2.00 false 377714 X X X false 344825329 11463870 11597583 8977914 2785221 356123647 321558562 11972581 22854463 7674796 3885481 344825329 297379817 2814270 33835475 7254007 5216993 321558562 326652226 348369 -17149778 6819631 5651369 297379817 325657926 2181965 9983235 6621980 4548920 326652226 0.26250 0.63280 0.10470 true false 12613569 12613569 174809393 82242138 92567255 14197410 8689308 5508102 377714 0 377714 111066640 OTHER SECURITIES 250946614 F 250946614 0 INTEREST RATE SWAP 326369 326369 X PART II, LINE 9: THE SCHOOL HOLDS TWO WETLANDS EASEMENTS AS PART OF ITS CAMPUS LAND. THIS IS ACCOUNTED FOR AS A PART OF LAND AMOUNT ON THE SCHOOL'S BALANCE SHEET. PART III, LINE 4: INCLUDED IN THIS COLLECTION ARE SUCH NOTABLE BOOKS AS CHARLES DARWIN'S ON THE ORIGIN OF SPECIES ($15,000), HARTMAN SCHEDEL'S NURENBERG CHRONICLE ($35,000), AND THE LATIN BOOK OF HOURS OF THE VIRGIN ($25,00O). ADDITIONALLY, THERE ARE BOOKS BY THOMAS JEFFERSON, JOHN KEATS AND G. CHAUCER. THESE BOOKS AND MANUSCRIPTS PROVIDE AN OPPORTUNITY FOR OUR STUDENTS TO GAIN INVALUABLE INSIGHT AS TO HISTORICAL PERSPECTIVES AND A CHANCE TO VIEW CLASSICAL LITERATURE IN THEIR ORIGINAL FORM THAT THEY COULD NOT OTHERWISE EVER SEE. ADDITIONALLY, THE SCHOOL POSSESSES A L'ARBRE SCULPTURE THAT IS ON DISPLAY IN THE SCHOOL'S ART CENTER FOR THE VIEWING PLEASURE OF THE ART STUDENTS AND TO THE PUBLIC AT EXHIBITIONS. PART V, LINE 4 THE PEDDIE SCHOOL ENDOWMENT FUNDS ARE DONOR RESTRICTED AND PRIMARILY PROVIDE FOR FINANCIAL AID TO PEDDIE'S STUDENTS AND SUPPORT FOR THE SCHOOL'S GENERAL OPERATIONS. ENDOWMENT INCOME ALSO PROVIDES SUPPORT FOR THE SCHOOL'S FACULTY SALARIES AS WELL AS ACADEMIC PROGRAMS, FIELD TRIPS FOR STUDENTS, AND GENERAL USE. PART X, LINE 2 PROFESSIONAL STANDARDS RELATED TO "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES" CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE SCHOOL AND HAS CONCLUDED THAT AS OF JUNE 30, 2019 AND 2018, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE THE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE SCHOOL RECOGNIZES ACCRUED INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS, IF ANY. THERE WERE NO INCOME TAX-RELATED INTEREST OR PENALTIES RECORDED FOR THE YEARS ENDED JUNE 30, 2019 AND 2018. 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. true true true true true true true false false false false false false false false false false true PART I, LINE 3: A STATEMENT OF PEDDIE'S NON-DISCRIMINATION POLICY IS INCLUDED IN ALL BROCHURES AND CATALOGS THAT PERTAIN TO STUDENT ADMISSIONS PROGRAMS AND SCHOLARSHIPS. PEDDIE ALSO PUBLISHES AN ANNUAL PRINT ADVERTISEMENT THROUGH NAIS (NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS). East Asia and the Pacific Investments 9966520 Europe (Including Iceland and Greenland) Investments 13078727 Central America and the Caribbean Investments 83771258 106816505 106816505 true false false true true false X X X X X true COMMUNITY COUNSELING SERVICE BOX 824885 PHILADELPHIA PA 19182 CAMPAIGN CONSULTANT false 220935 TAFT COMMUNICATIONS 2000 LENOX DRIVE SUITE 200 LAWRENCEVILLE NJ 08648 BRANDING & MESSAGING false 59570 280505 REUNION 29280 210 29070 19856 52947 24602 SPRING SOCAL 12935 7300 5635 994 6898 2635 4 5899 414 5485 8026 4498 37883 48114 7924 40190 28876 64343 65120 158339 -118149 201 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 true BOROUGH OF HIGHTSTOWN 148 SOUTH MAIN STREET HIGHSTOWN NJ 08520 216000721 501 (C) (3) 23000 GENERAL TOWN SUPPORT HIGHTSTOWN FIRE DEPARTMENT 148 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 223279112 501 (C) (3) 25320 FIRE DEPARTMENT SUPPORT 2 FINANCIAL AID (SCHOLARSHIPS) 205 8977914 PART III, LN 1 FINANCIAL AID (SCHOLARSHIPS) ARE GIVEN OUT BASED ON NEED AND MERIT. NEED-BASED AID IS GIVEN OUT BASED on information from the Parents' Financial Statement and uses a standardized calculation derived from a formula that is nationally accepted by independent schools. Using the tax returns and FORMS W-2, Peddie makes any necessary adjustments (income amounts, federal and state taxes, cafeteria and pension deductions, etc.) to the familys initial estimates. The Financial Aid Committee determines need by evaluating the familys ability to contribute against the cost of attendance. We base this analysis on factors including: parental employment, family size, most recent years' income and expenses, assets and liabilities, living expenses/lifestyle choices, and the number of family members for whom the family is paying tuition. Merit scholars come from diverse backgrounds and locations across the United States and around the world, and are considered for their ability to strengthen all aspects of our community and make the most of their Peddie experience. They possess a passion for learning and embody a commitment to academic excellence, community engagement, curiosity, and character. Merit scholarships are open to applicants regardless of financial need. In order to be considered, applicants must submit all necessary application materials by the January 15 application deadline (There are no additional materials required to be considered for merit scholarships). X true true X X false false false false false false false true false Peter A Quinn Trustee/Headmaster 408903 0 87500 0 1329 0 27500 0 141582 0 666814 0 0 0 Michael McKitish Asst Secretary/Asst Head Finan 273134 0 0 0 724 0 27321 0 1671 0 302850 0 0 0 Christopher Van Wyk Asst Treasurer/Controller 164296 0 0 0 792 0 16465 0 1946 0 183499 0 0 0 M Catherine Rodrigue Associate Head of School 169417 0 0 0 516 0 17038 0 34004 0 220975 0 0 0 Molly Dunne Director of Admissions 145745 0 575 0 120 0 15158 0 41318 0 202916 0 0 0 Ryan Bennett Director of Technology 129999 0 5630 0 180 0 13999 0 54832 0 204640 0 0 0 Raymond H Cabot Asst. Head for Strategic Plan 131304 0 1000 0 516 0 13658 0 42368 0 188846 0 0 0 Karyn Vella Assistant Head for Development 110517 0 10917 0 90 0 11250 0 32045 0 164819 0 0 0 SCHEDULE J, PART I, LINE 1A HOUSING ON THE SCHOOL CAMPUS IS PROVIDED TO CERTAIN EMPLOYEES, AS REQUIRED BY THE TERMS OF THEIR EMPLOYMENT FOR THE CONVENIENCE OF THE SCHOOL, AND IS TREATED AS NON-TAXABLE UNDER SECTION 119 OF THE INTERNAL REVENUE CODE. SCHEDULE J, PART I, LINE 7 The Executive Committee of the Board of Trustees annually determines an incentive compensation payment tied to performance indicators and annualized objectives for the contract year. A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY - 2015 222045817 2015-08-05 11125000 FORWARD REFUNDING OF PRIOR BOND false false false B NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY - 2017 222045817 2017-01-03 15150000 BOND REFINANCING false false false A 0 0 11125000 0 0 11008601 116399 0 0 0 0 0 false true true true B 0 0 15150000 0 0 15150000 0 0 0 0 0 0 true false true true A false false false false 0 false false false true B false false false false 0 false false false true A false true false false 0 false 0 false false B false true false true true WELLS FARGO 10. false false false 0 false false A true B true X 23 4609143 FMV X PLEDGES 30 6076124 FMV false true true FORM 990, PART III, LINE 1 THE PEDDIE COMMUNITY COMMITS ITSELF TO THE INTELLECTUAL, SOCIAL, AND MORAL GROWTH OF OUR STUDENTS. WE CHALLENGE OUR STUDENTS TO REACH FOR LEVELS OF ACHIEVEMENT THEY HAVE NOT ATTEMPTED BEFORE AND ENCOURAGE THEM TO MEASURE THE SUCCESS OF THEIR EFFORTS BY THE PROGRESS THEY MAKE. ULTIMATELY, WE SEEK NOT ONLY TO PROVIDE OUR STUDENTS WITH VIGOROUS PREPARATION FOR COLLEGE BUT ALSO TO INSPIRE THEM TO STRIVE FOR THE HIGHEST QUALITY OF CITIZENSHIP. FORM 990, PART VI, SECTION B, LINE 11B The organization's Federal Forms 990 and 990-T were provided to each voting member of its governing body, its Board of Trustees, prior to filing with the Internal Revenue Service ("IRS"). One of the responsibilities of the organizations Audit and Risk Committee is to oversee and coordinate preparation, review and filing of the organizations Federal Forms 990 and 990-T. The organization retained the services of a professional certified public accounting ("CPA") firm with experience and expertise in both education and not-for-profit tax return preparation to prepare the Federal Forms 990 and 990-T. The CPA firm's tax professionals worked closely with the organization's finance personnel including the Assistant Head of Finance and Operations and the Controller ("Internal Working Group") to obtain the information needed in order to prepare complete and accurate tax returns. The CPA firm prepared draft Federal Forms 990 and 990-T and furnished them to the organization's Internal Working Group for review. The organization's Internal Working Group reviewed the draft Federal Form 990 and 990-T and discussed questions and comments with the CPA firm. The CPA firm prepared a final draft of the Federal Forms 990 and 990-T for review and approval by the organization's Internal Working Group. The Audit and Risk Committee reviewed these final drafts of the Federal Forms 990 and 990-T, and provided them to each member of the Board of Trustees. Board approval of Federal Forms 990 and 990-T was secured prior to filing with the IRS. FORM 990, PART VI, SECTION B, LINE 12C Annually, each member of the Board of Trustees completes a conflict of interest questionnaire and statement. The statements are kept on file and reviewed for disclosures of any actual or potential conflicts. The Board of Trustees is responsible for resolving any matters that arise. file and reviewed by the board of trustees. The board of trustees is also responsible for resolving matters that arise. FORM 990, PART VI, SECTION B, LINE 15 (a) Annually, the Executive Committee of the Peddie School Board of Trustees reviews the performance of the headmaster, the headmasters salary history and all benefits, and a comparison study of salary and benefits for headmasters at comparable schools. Based on the foregoing, the Board Chair, in consultation with the Executive Committee, determines the headmasters salary for the coming year. (b) Annually, the headmaster reviews with the Executive Committee of the Peddie School Board of Trustees the performance of members of the senior planning team, their salary histories and all benefits, and a comparison study of salary and benefits for similar positions at comparable schools. The headmaster provides the Executive Committee with salary recommendations for the Committees concurrence. FORM 990, PART VI, SECTION C, LINE 19 The peddie school does not make its governing documents, conflict of interest policy and financial statements available to the public. the financial statements are made available to bondholders, insurers, rating agencies and others with a financial interest. FORM 990, PART VIII, LINE 3 THE INTEREST/DIVIDEND INCOME SHOWN IS NET OF $2,306,607 IN INVESTMENT EXPENSES. FORM 990, PART IX, LINE 2 THE FINANCIAL AID SHOWN ON PART IX, LINE 2 INCLUDES $1,282,500 IN TUITION REMISSION FOR CHILDREN OF EMPLOYEES OF THE PEDDIE SCHOOL. FORM 990, PART XI, LINE 9 CHANGE IN INTEREST RATE SWAPS 170,119 CHANGE IN SPLIT INTEREST AGREEMENTS (222,609) WRITE-OFF OF UNCOLLECTIBLE PLEDGES (47) ------- TOTAL -52,536 TPS MANAGEMENT LLC 201 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 753051210 COMMERCIAL NJ 248823 2642928 THE PEDDIE