2019-05-15T09:15:54-05:00 2018-06-30 WITHUM SMITH BROWN PC 506 CARNEGIE CENTER STE 400 PRINCETON NJ 085406243 990 2017-07-01 210635004 THE PENNINGTON SCHOOL % J GRAEME MCWHIRTER PENN 6097371838 112 W DELAWARE AVE PENNINGTON NJ 08534 WILLIAM HAWKEY HEADMASTER 6097376120 2019-05-15 true PAUL V GERGEL P00116563 6095201188 50.224.76.26 22006220191355000053 2019-05-15 P 0509C29C70395331006511B37B3D6BCBED833A4B 0509C29C70395331006511B37B3D6BCBED833A4B 2017 2019-02-21 02:37:17Z WILLIAM HAWKEY 112 W DELAWARE AVE PENNINGTON NJ 08534 33653278 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. 31 30 275 218 82535 81535 6875603 2836521 21991276 23836468 1482905 3446089 471303 562362 30821087 30681440 4974165 5740425 0 0 12274985 12923551 0 0 1121515 9294633 9865974 26543783 28529950 4277304 2151490 86390555 86280043 24806927 22924213 61583628 63355830 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 22628727 5740425 24183708 COEDUCATIONAL DAY/BOARDING SCHOOL SERVICING GRADES 6 THROUGH 12. THERE ARE APPROXIMATELY 525 STUDENTS. 22628727 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 78 0 true 275 true true true false false false false true true false false false false X 31 30 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 X DR WILLIAM S HAWKEY HEADMASTER 42.0 0.0 X X 367168 0 132560 JOHN E CELENTANO 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 HONORABLE JOHN S KUHLTHAU 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 X 0 0 0 REV DR ROBERT J WILLIAMS TRUSTEE 2.0 0.0 X 0 0 0 DAVID M PARAGAMIAN 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 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 REV FRANK DAVIS TRUSTEE 2.0 0.0 X 0 0 0 DR CECILIA ROUSE TRUSTEE 2.0 0.0 X 0 0 0 DR LORI WASHTON TRUSTEE 2.0 0.0 X 0 0 0 J GRAEME MCWHIRTER CHIEF FINANCIAL OFFICER 40.0 0.0 X 188907 0 37705 TODD PAIGE HEAD OF THE MIDDLE SCHOOL 40.0 0.0 X 114190 0 36517 TOM LIWOSZ FACULTY MEMBER 40.0 0.0 X 103590 0 45179 JOANNAH PROCKOP DIRECTOR THE LEARNING CENTER 40.0 0.0 X 107608 0 13147 CHARLIE BROWN DIRECTOR OF ADVANCEMENT 40.0 0.0 X 184117 0 28384 SCOTT PEELER DEAN OF ACADEMIC AFFAIRS 40.0 0.0 X 101458 0 53110 1167038 0 346602 7 false true false SODEXO INC AFFILIATES 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 DINING SERVICES 1400409 COMMERCIAL CLEANING CORP 311 N CLINTON AVE TRENTON NJ 08638 HOUSEKEEPING SERVICE 281148 BAY LANDSCAPING CO INC 2206 TAYLORS POND ROAD JOBSTOWN NJ 08041 CONSTRUCTION 573667 ADAMS-BICKEL ASSOCIATES LLC 341 N 10TH AVENUE SUITE 206 ROYERSFORD PA 19468 CONSTRUCTION 1205144 VOITH MACTAVISH ARCHITECTS LLP 2401 WALNUT STREET 6TH FLOOR PHILADELPHIA PA 19103 ARCHITECTURAL SERVIC 220692 8 X 61270 2775251 719731 2836521 TUITION & FEES 611110 23836468 23836468 23836468 889811 889811 0 0 238611 69260 169351 0 169351 71306 98045 5304322 2748044 2556278 2556278 2556278 24277 61270 24277 0 0 0 164799 130257 34542 34542 OTHER 900099 347240 347240 YEARBOOK ADVERTISING 541800 11229 11229 358469 30681440 24183708 82535 3578676 0 5740425 5740425 0 0 0 697679 506622 155826 35231 0 9522552 6922375 2118784 481393 626482 454922 139924 31636 1355499 986484 300413 68602 721339 523803 161110 36426 0 74376 74376 55139 55139 0 0 163384 163384 69070 69070 0 0 29447 29447 762977 741176 17781 4020 97146 70543 26603 0 1047814 760874 234028 52912 0 0 83451 83451 423310 307388 115922 0 3187418 2314555 711905 160958 182526 182526 FOOD SERVICES 1388942 1388942 INSTRUCTIONAL EXPENSES 946680 946680 HEADMASTER OFFICE 245392 178192 67200 ADMINISTRATIVE 407866 407866 701036 450699 250337 28529950 22628727 4779708 1121515 X 0 0 5846779 6153716 4695997 2420319 345491 211267 0 0 0 0 0 0 88507 102370 674575 605501 62701802 23896379 39212874 38805423 35352775 37795813 0 0 0 0 173557 165122 0 20512 86390555 86280043 2837330 2185767 0 0 5511579 5008633 15897033 15274233 0 0 0 0 383367 368020 0 0 177618 87560 24806927 22924213 X 39488922 40117041 11073303 11537422 11021403 11701367 61583628 63355830 86390555 86280043 X 2151490 -358604 39316 -60000 X false true X true false X 37565076 655351 2830192 1478636 39571983 34636006 397720 3981826 1450476 37565076 36007399 224519 -182682 1413230 34636006 35819985 782183 749694 1344463 36007399 29872301 1754564 5117979 924859 35819985 0.54970 0.29570 0.15460 false false 0 258677 258677 0 53764858 20575290 33189568 0 3425542 1310922 2114620 0 5252725 2010167 3242558 38805423 0 SWAP TERMINATION LIABILITY 56160 LIABILITY INTEREST RATE SWAP 0 UBI TAX LIABILITY 31400 87560 X 24482653 -358604 51045 223794 -83765 24566418 374597 5740425 6115022 30681440 22710451 11729 283794 295523 22414928 374597 5740425 6115022 28529950 SCHEDULE D, PART X, LINE 2 The School has received a determination letter from the Internal Revenue Service concluding that it is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. However, income from certain activities not directly related to the Schools tax-exempt purpose is subject to taxation as unrelated business income. The School has been classified as an organization that is not a private foundation under Section 509(a)(1) of the Internal Revenue Code and qualifies for deductible contributions as provided in Section 170(b)(1)(A). The School has adopted the application of Accounting for Uncertainty in Income Taxes. The School had no unrecognized tax benefits at June 30, 2018. In addition, the School has no income tax related penalties or interest for the periods reported. The School files a tax return in the U.S. federal jurisdiction. SCHEDULE D, PART XI, LINE 2D COST OF GOODS SOLD............................... 130,257 RENTAL EXPENSES.................................. 69,260 SPECIAL EVENTS EXPENSES.......................... 24,277 ---------------------------------------------------------------- TOTAL............................................ 223,794 SCHEDULE D, PART XII, LINE 2D COST OF GOODS SOLD................................ 130,257 RENTAL EXPENSES................................... 69,260 SPECIAL EVENT EXPENSES............................ 24,277 BAD DEBT EXPENSE.................................. 60,000 ----------------------------------------------------------------- TOTAL............................................. 283,794 SCHEDULE D, PART XII, LINE 4B FINANCIAL AID..................................... 5,740,425 SCHEDULE D, PART XI, LINE 4B FINANCIAL AID..................................... 5,740,425 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 Fundraising 42711 42711 42711 false false false false false false AUCTION 85547 85547 24277 0 85547 85547 24277 24277 61270 true FINANCIAL AID 153 5740425 FMV SCHOLARSHIPS/TUITION SEE EXPLANATION FOR PART I, LINE 2 THERE WERE 153 RECIPIENTS OF FINANCIAL AID AND 29 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 367168 0 0 0 132560 499728 0 J GRAEME MCWHIRTER CHIEF FINANCIAL OFFICER 188907 0 0 0 37705 226612 0 TODD PAIGE HEAD OF THE MIDDLE SCHOOL 114190 0 0 0 36517 150707 0 CHARLIE BROWN DIRECTOR OF ADVANCEMENT 184117 0 0 0 28384 212501 0 SCOTT PEELER DEAN OF ACADEMIC AFFAIRS 101382 0 76 0 53110 154568 0 PART I, LINE 4B - COMPENSATION QUESTIONS WILLIAM HAWKEY WAS PROVIDED A SUPPLEMENTAL PENSION IN 2017-2018. THE COST WAS $15,500. A NEW JERSEY ECONOMIC AUTHORITY 222045817 2014-06-17 7500000 INTEREST RATE SWAP AGREEMENTS 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 B 0 0 0 0 0 0 0 0 0 0 0 0 A 0 B 0 A 0 0 B 0 0 A B WILLIAM HAWKEY HEADMASTER 38100 TUITION REMISSION TUITION REMISSION WILLIAM SOLON HAWKEY SON OF HEADMASTER 50311 COMPENSATION AND BENEFITS false X 23 719731 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 ....................... 428,226 UNREALIZED GAIN ON SWAP AGREEMENT.................... 69,622 ---------------------------------------------------------------- TOTAL UNREALIZED LOSS ON INVESTMENTS....................... 358,604 FORM 990, PART XI, LINE 6 THE ORGANIZATION RECEIVED THE FOLLOWING IN-KIND GIFTS IN THE CURRENT FISCAL YEAR: IN-KIND CONTRIBUTION REVENUE.......................... 51,045 IN-KIND EXPENSES...................................... (11,729) ---------------------------------------------------------------- TOTAL IN-KIND CONTRIBUTIONS RECEIVED.................. 39,316 FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS FOR THE CURRENT FISCAL YEAR END INCLUDE THE FOLLOWING: BAD DEBT EXPENSE...................................... 60,000