2019-03-11T07:54:10-05:00 2018-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2017-07-01 540528203 THE COLLEGIATE SCHOOL COLL 8047407077 103 NORTH MOORELAND ROAD RICHMOND VA 23229 PHYLLIS PALMIERO VP OF FINANCE AND ADMINISTRATION 8047419799 2019-03-10 1 AMANDA ADAMS P00748038 7043771678 68.142.180.174 2019-03-10 19:43:34 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 4A7654AB2157CB2B3475243DE130E1233F2F2828 2017 2019-02-21 02:37:17Z PHYLLIS PALMIERO 103 NORTH MOORELAND ROAD RICHMOND VA 23229 51640081 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. 28 27 715 900 108154 0 6795368 4138343 42579630 44509477 628149 653315 889538 411058 50892685 49712193 3656802 3931745 0 0 28639760 32087433 0 0 1158155 18942042 16804416 51238604 52823594 -345919 -3111401 158474889 161688287 45485609 46035086 112989280 115653201 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 41480705 3871365 40808187 INSTRUCTIONAL - COLLEGIATE SCHOOL PROVIDED JUNIOR KINDERGARTEN THROUGH TWELFTH GRADE EDUCATION TO APPROXIMATELY 1,675 STUDENTS. THE FOLLOWING STATISTICS FOR THE GRADUATING CLASS OF 2018 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 BROWN, YALE, DUKE, UNIVERSITY OF PENNSYLVANIA, AND PRINCETON. THE CLASS OF 2018 HAD 14 RECRUITED ATHLETES, 7 WENT ON TO COMPETE AT DIVISION I SCHOOLS, AND 7 WENT ON TO COMPETE AT DIVISION III SCHOOLS. COLLEGIATE SCHOOL ALSO HOSTED OVER 40 STUDENTS FROM AROUND THE WORLD DURING ITS 7TH ANNUAL INTERNATIONAL EMERGING LEADERS CONFERENCE IN OCTOBER, 2017. THE CONFERENCE IS BELIEVED TO BE THE ONLY COLLABORATIVE GLOBAL YOUTH CONFERENCE OF ITS KIND AMONG PUBLIC AND PRIVATE SCHOOLS NATIONWIDE. 3363192 60380 2741725 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. 932164 1126377 PUBLIC SERVICE - THE SCHOOL OFFERS A SUMMER ECONOMICS INSTITUTE, SUMMER PROGRAMS, AND SEVERAL YOUTH SPORTS AND ADULT SPORTS PROGRAMS TO THE GREATER RICHMOND COMMUNITY. 45776061 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 1 0 0 0 0 1 0 0 0 0 1 0 0 0 1 133 0 1 715 1 1 1 0 0 0 0 1 1 0 0 0 0 X 28 27 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X PHYLLIS PALMIERO VP OF FINANCE AND ADMINISTRATION 8047419754 103 NORTH MOORELAND ROAD RICHMOND VA 23229 FRANK F MOUNTCASTLE III CHAIRMAN OF THE BOARD 2.00 X X 0 0 0 JOHN W MARTIN VICE CHAIRMAN OF THE BOARD 2.00 X X 0 0 0 BRUDE D STOEVER VICE PRESIDENT, DEVELOPMENT 2.00 X X 0 0 0 JOHN D O'NEILL JR IMMEDIATE PAST CHAIRMAN OF THE BOARD 2.00 X X 0 0 0 MICHAEL G BLAND TRUSTEE 2.00 X 0 0 0 MARK A CHRISTIAN TRUSTEE 2.00 X 0 0 0 DAVID A GALLAGHER TRUSTEE 2.00 X 0 0 0 ELIZABETH F HUTCHINS TRUSTEE 2.00 X 0 0 0 EUCHARIA N JACKSON TRUSTEE 2.00 X 0 0 0 MEG A JOHNSON 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 MALCOLM S MCDONALD TRUSTEE 2.00 X 0 0 0 MORENIKE K MILES TRUSTEE 2.00 X 0 0 0 JOAN OLMSTEAD OATES LIFE TRUSTEE 2.00 X 0 0 0 JUDY WAGONER PAHREN TRUSTEE 2.00 X 0 0 0 CARTER M REID TRUSTEE 2.00 X 0 0 0 CB ROBERTSON III LIFE TRUSTEE 2.00 X 0 0 0 SHERYL A ROBINS TRUSTEE 2.00 X 0 0 0 LISA E RODAY 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 ALFRED I STRATFORD III TRUSTEE 2.00 X 0 0 0 ROBERT S UKROP LIFE TRUSTEE 2.00 X 0 0 0 MICHELLE P WILTSHIRE TRUSTEE 2.00 X 0 0 0 STEPHEN HICKMAN PRESIDENT/HEAD OF SCHOOL 40.00 X X 661259 0 151358 PHYLLIS PALMIERO TREASURER/ VP OF FINANCE & ADMIN 40.00 X 243253 0 42176 SUSAN C WILEY SECRETARY / ASSISTANT TO HEAD OF SCHOOL 40.00 X 74026 0 18538 JAMES P WATSON ASSISTANT HEAD OF SCHOOL 40.00 X 141421 0 54344 PATRICK E LOACH HEAD OF UPPER SCHOOL 40.00 X 140195 0 55074 CHARLES L BLAIR JR HEAD OF MIDDLE SCHOOL 40.00 X 151541 0 36449 KRISTEN M WILLIAMS VP OF DEVELOPMENT 40.00 X 137306 0 54408 SUSAN R DROKE CHIEF ACADEMIC OFFICER 40.00 X 137671 0 29940 1686672 0 442287 19 0 1 0 KJELLSTROM AND LEE INC 1607 OWNBY LANE RICHMOND VA 23294 GENERAL CONTRACTING SVCS 2977760 ALADDIN FOOD MANAGEMENT SERVICES LLC 21 ARMORY DR WHEELING WV 26003 FOOD SERVICES 1480471 RHODES-WERNER & CO INC 1955 STONEHENGE DRIVE RICHMOND VA 23225 PAINTING SERVICES 384800 F G PRUITT INC 2415 GRENOBLE ROAD RICHMOND VA 23294 EXCAVATING SERVICES 355179 ARCHITECTURAL PRODUCTS OF VA 10223 SYCAMORE DRIVE ASHLAND VA 23005 SECURITY SERVICES 331974 10 182178 20335 3935830 1039904 4138343 TUITION & FEES 611600 40148971 40148971 FOOD SERVICE 611600 1544898 1544898 SUMMER PROGRAMS 611600 870643 870643 CHILD CARE 611600 725326 725326 PRIVATE MUSIC LESSONS 611600 292120 292120 927519 914949 12570 44509477 808360 95584 712776 80420 33813 46607 46607 46607 857726 858627 154144 -901 -154144 -155045 -155045 518976 182178 456694 62282 62282 15746 7156 8590 8590 596836 417454 179382 179382 CHANGE IN BENEFIT PLAN OBLIGATION 900099 119857 119857 -5660 -5660 114197 49712193 44676289 108154 789407 3931745 3931745 966182 966182 21873455 19747604 1602386 523465 1721215 1534051 144483 42681 5899512 5147474 578093 173945 1627069 1437052 152445 37572 63069 63069 44275 44275 708052 708052 2991041 2311213 610975 68853 2352141 1858881 255279 237981 969214 808736 157590 2888 1218 1218 756684 733528 19218 3938 384091 332967 38579 12545 175787 147536 26676 1575 1283343 1243395 36309 3639 6010739 5830625 149486 30628 239933 30927 208989 17 FIELD TRIP EXPENSE 499376 499376 DUES AND SUBSCRIPTIONS 133034 91449 36233 5352 192419 88284 91059 13076 52823594 45776061 5889378 1158155 3448972 2789882 8769284 10587036 13737839 11035988 273697 465092 77188 74502 82453 85826 722585 620246 132299876 67238791 66082430 65061085 16899552 20515806 46381073 45338000 1999816 5114824 158474889 161688287 3835507 4075450 3047159 3005437 33748546 35568681 1297748 75450 3556649 3310068 45485609 46035086 X 68003537 67240623 21234374 23077059 23751369 25335519 112989280 115653201 158474889 161688287 X -3111401 5905018 -129696 X 0 1 X 1 0 X 8640666 3489016 6267899 6795368 4138343 29331292 8640666 3489016 6267899 6795368 4138343 29331292 8843319 20487973 1072154 866022 942769 740503 888780 4510228 24187 24187 62348 74325 72164 208837 34074544 45106313 0.60130 0.53600 X 60485425 3268181 5751783 452333 3862374 65190682 54587226 4016923 5992027 444917 3665834 60485425 59854616 1807537 -3040206 435978 3598743 54587226 59409578 2205243 2558975 401571 3917609 59854616 51786039 2587147 8846345 369020 3440933 59409578 0.31560 0.38860 0.29580 0 0 3697128 3697128 84138152 35350458 48787694 12259492 10057626 2201866 32205104 21830707 10374397 65061085 FUND OF FUNDS 45338000 F 45338000 ACCRUED POST RETIREMENT MEDICAL 2846947 ANNUITIES PAYABLE 227290 ACCRUED INTEREST PAYABLE 167356 FAS 143 LIABILITY 27018 DUE TO OTHER FUNDS 41457 3310068 X 51106673 5905018 -3931745 1973273 49133400 733179 -154386 578793 49712193 48295933 347423 347423 47948510 733179 4141905 4875084 52823594 PART V, LINE 4: THE COLLEGIATE SCHOOL'S ENDOWMENT (THE ENDOWMENT) CONSISTS OF 160 INDIVIDUAL ENDOWMENTS, OF WHICH 66% ARE TRUE ENDOWMENTS AND 34% ARE RESTRICTED AND BOARD-DESIGNATED QUASI-ENDOWMENTS. OF THE TRUE ENDOWMENTS, 59% REPRESENTS FUNDS RESTRICTED FOR FACULTY AND PROGRAM DEVELOPMENT, 33% REPRESENTS FUNDS RESTRICTED FOR FINANCIAL AID, AND 8% ARE RESTRICTED FOR ECONOMIC EDUCATION. 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 32% OF THE TOTAL ENDOWMENT MARKET VALUE AT JUNE 30, 2018. 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, 2018. 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, 2018. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH TUITION REVENUE ON FINANCIAL STATEMENTS -3,931,745. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -417,454. AGENCY FUND REVENUES 183,585. CHANGE IN BENEFIT PLAN OBLIGATION 119,857. LOSS ON SALE OF DONATED SECURITIES -901. OTHER LOSSES -5,660. RENTAL EXPENSES -33,813. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFIT PLAN OBLIGATION -119,857. LOSS ON SALE OF DONATED SECURITIES 901. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 9,452. COST OF GOODS SOLD 417,454. OTHER LOSSES 5,660. RENTAL EXPENSES 33,813. PART XII, LINE 4B - OTHER ADJUSTMENTS: AGENCY FUND EXPENSES 210,160. FINANCIAL AID NETTED WITH TUITION REVENUE ON FINANCIAL STATEMENTS 3,931,745. PART V, LINE 1B: ENDOWMENT CONTRIBUTIONS ARE COMPOSED OF CONTRIBUTIONS AND TRANSFERS. ENDOWMENT CONTRIBUTIONS TOTALED $1,698,697 FOR THE FISCAL YEAR. ENDOWMENT TRANSFERS TOTALED $1,569,484. 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. EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES INTERNATIONAL STUDY 8550 EUROPE 0 0 PROGRAM SERVICES INTERNATIONAL STUDY 75863 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES INTERNATIONAL STUDY 11622 NORTH AMERICA 0 0 PROGRAM SERVICES INTERNATIONAL STUDY 9750 SOUTH ASIA 0 0 PROGRAM SERVICES INTERNATIONAL STUDY 5800 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES INTERNATIONAL STUDY 18200 0 0 0 0 0 0 129785 0 129785 1 0 1 0 0 0 PART I, LINE 3: THE ORGANIZATION USED THE CASH BASIS OF ACCOUNTING METHOD TO ACCOUNT FOR EXPENDITURES. AUCTION 496721 177327 319394 0 34850 36077 4495 263776 VILLAGE GREEN FAIR 104289 4851 99438 5757 6228 10367 28226 10 100144 100144 66918 701154 182178 518976 40607 42305 14862 358920 456694 62282 4216 99 2054 1 1.00000 11530 5000 3 1 0.50000 15746 5099 2057 7156 8590 VA 0 GAMING ACTIVITY FALLS UNDER THRESHOLD FOR REQUIRED LICENSING IN COMMONWEALTH OF VIRGINIA 0 0 0 0 0 1 NEED-BASED FINANCIAL ASSISTANCE 271 3917745 FMV TUITION REDUCTION, FEES, BOOKS, QUEST MERIT BASED SCHOLARSHIPS 2 14000 FMV TUITION REDUCTION PART I, LINE 2: ALTHOUGH THE SCHOOL DOES NOT PROVIDE GRANTS IN THE TRADITIONAL SENSE, WE DO 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 1 1 X X X X 0 0 0 0 0 0 0 0 0 STEPHEN HICKMAN PRESIDENT/HEAD OF SCHOOL 439457 0 0 0 221802 0 113400 0 37958 0 812617 0 189000 0 PHYLLIS PALMIERO TREASURER/ VP OF FINANCE & ADMIN 241159 0 0 0 2094 0 17451 0 24725 0 285429 0 0 0 JAMES P WATSON ASSISTANT HEAD OF SCHOOL 140769 0 0 0 652 0 10369 0 43975 0 195765 0 0 0 PATRICK E LOACH HEAD OF UPPER SCHOOL 139477 0 0 0 718 0 15190 0 39884 0 195269 0 0 0 CHARLES L BLAIR JR HEAD OF MIDDLE SCHOOL 148923 0 0 0 2618 0 15645 0 20804 0 187990 0 0 0 KRISTEN M WILLIAMS VP OF DEVELOPMENT 136585 0 0 0 721 0 9923 0 44485 0 191714 0 0 0 SUSAN R DROKE CHIEF ACADEMIC OFFICER 136390 0 0 0 1281 0 10147 0 19793 0 167611 0 0 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 BASE COMPENSATION. 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. SCHEDULE J, PART II, LINE 1, COLUMN F INCLUDED IN COLUMN (B)(III) OF STEPHEN HICKMAN'S TAXABLE COMPENSATION IS $189,000 OF PREVIOUSLY REPORTED DEFERRED COMPENSATION. A EDA OF THE COUNTY OF HENRICO 541197472 42605PCM5 2010-11-04 15988433 SEE BELOW 0 0 0 B EDA OF THE COUNTY OF HENRICO 541197472 42605PDC6 2012-04-19 24183447 SEE BELOW 1 0 0 C EDA OF THE COUNTY OF GOOCHLAND 541250286 000000000 2012-04-27 848750 SEE BELOW 0 0 0 D EDA OF THE COUNTY OF HENRICO 541197472 000000000 2017-12-20 7710000 SEE BELOW 0 0 0 A 5965000 15988433 313345 15675088 1999 1 0 1 1 B 1300000 4350000 24228100 433186 23794914 2013 0 0 1 1 C 727500 848750 848750 1998 1 0 1 1 D 15000 7719131 4591975 111888 1317129 1000000 698139 1 1 0 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 0 0 0.00000 0.00000 0.00000 0 0 1 D 0 0 0 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 0 1 1 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 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 ISSUER NAME: EDA OF THE COUNTY OF GOOCHLAND 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 C, COL (F) REFUND OUTSTANDING AMOUNT ON BOND ORIGINIALLY ISSUED 12/30/1998 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 UNSPENT BOND PROCEEDS STEPHEN HICKMAN HEAD OF SCHOOL PURCHASE OF A HOME; APR 2.5%, BALANCE DUE JUNE 2019 X 250000 74502 0 1 1 74502 X 182178 FAIR MARKET VALUE X 97 857726 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 MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -9,452. LOSS ON LEGAL DEFEASEMENT -242,648. AGENCY FUND PRIOR PERIOD ADJUSTMENT 122,404. 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