2019-05-15T11:06:20-05:00 2018-06-30 141918990 TEMPLETON & COMPANY LLP 222 LAKEVIEW AVENUE SUITE 1200 WEST PALM BEACH FL 33401 990 2017-07-01 590873834 PALM BEACH DAY ACADEMY INC PALM 5616551188 241 SEAVIEW AVENUE PALM BEACH FL 33480 WILLIAM COYLE DIRECTOR OF FINANCE & OPERATIONS 5616551188 2019-05-15 1 RICHARD JUBACK P00630706 5617989988 63.240.243.100 2019-05-15 12:06:09 ED P 8BBDDDDCC6450596D4CFBC66E710CF82D0DCDD2D 3A17A81C6A578EF79E6B68339AB71B64340CC4D5 2017 2019-02-21 02:37:17Z WILLIAM COYLE 241 SEAVIEW AVENUE PALM BEACH FL 33480 15667876 0 X WWW.PBDAY.ORG X 1975 FL PRIMARY EDUCATION FOR STUDENTS PRE-K THROUGH THE NINTH GRADE. 24 24 131 175 0 0 2845236 2548759 12402705 12507019 118830 -6998 352700 295566 15719471 15344346 2723720 3014071 0 0 7818163 8284961 0 0 499754 4178384 4155305 14720267 15454337 999204 -109991 36901044 38029785 17888873 17719226 19012171 20310559 THE FOUNDATION OF THE PALM BEACH DAY ACADEMY'S PROGRAM IS THE EDUCATION OF OUR STUDENTS IN AN ACADEMICALLY CHALLENGING AND COMPASSION RICH ENVIRONMENT THAT GUIDES EACH CHILD TOWARD PERSONAL EXCELLENCE OF MIND, BODY AND CHARACTER. 0 0 10206794 3014071 12055862 INSTRUCTION-ACCREDITED CLASSROOM INSTRUCTION FOR 452 STUDENTS IN PRE-K THROUGH NINTH GRADE. 162796 68273 STUDENT ACTIVITIES-ATHLETICS, ART, DRAMATICS, LABORATORY, TYPING, CULTURAL EVENTS AND TRIPS FOR 452 STUDENTS ENROLLED IN PRE-K THROUGH NINTH GRADE. 531343 463453 AUXILIARY SERVICES-BUS TRANSPORTATION, TEXTBOOKS, LUNCH & JUICE PROGRAMS PROVIDED TO 452 STUDENTS ENROLLED IN PRE-K THROUGH NINTH GRADE. 10900933 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 22 0 131 1 0 0 0 0 0 1 1 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X WILLIAM COYLE 5616551188 241 SEAVIEW AVENUE PALM BEACH FL 33480 X LOURDES FANJUL PRESIDENT 1.00 X X 0 0 0 WILL MATTHEWS VICE PRESIDENT 1.00 X X 0 0 0 GRANT MASHEK TREASURER 1.00 X X 0 0 0 STEPHANIE CARDEN SECRETARY 1.00 X X 0 0 0 BEN ALEXANDER BOARD MEMBER 1.00 X 0 0 0 GITA COSTA BOARD MEMBER 1.00 X 0 0 0 CAROLINE FORREST BOARD MEMBER 1.00 X 0 0 0 TIM GANNON BOARD MEMBER 1.00 X 0 0 0 JULIANA GENDELMAN BOARD MEMBER 1.00 X 0 0 0 DAVID GOCHMAN BOARD MEMBER 1.00 X 0 0 0 ANDREA KOSOY BOARD MEMBER 1.00 X 0 0 0 KEVIN LAMB BOARD MEMBER 1.00 X 0 0 0 MATT LORENTZEN BOARD MEMBER 1.00 X 0 0 0 JAMES MCCANN BOARD MEMBER 1.00 X 0 0 0 TIM MULLEN BOARD MEMBER 1.00 X 0 0 0 CHRIS ORTHWEIN BOARD MEMBER 1.00 X 0 0 0 SUE PATTERSON BOARD MEMBER 1.00 X 0 0 0 CAROLINE RAFFERTY BOARD MEMBER 1.00 X 0 0 0 JOE SAMBUCO BOARD MEMBER 1.00 X 0 0 0 CHUCK SCHUMACHER BOARD MEMBER 1.00 X 0 0 0 CHRISTOPHER VECELLIO BOARD MEMBER 1.00 X 0 0 0 MAURA ZISKA BOARD MEMBER 1.00 X 0 0 0 MICHAEL AINSLIE HONORARY TRUSTEE 1.00 X 0 0 0 SCOTT JOHNSON HONORARY TRUSTEE 1.00 X 0 0 0 PAUL LEONE HONORARY TRUSTEE 1.00 X 0 0 0 AMBROSE MONELL HONORARY TRUSTEE 1.00 X 0 0 0 ANNE METZGER HONORARY TRUSTEE 1.00 X 0 0 0 MATTHEW SMITH HONORARY TRUSTEE 1.00 X 0 0 0 WILLIAM J COYLE DIRECTOR OF FINANCE & OPERATIONS 50.00 X 168250 0 31465 DR EDWIN P GORDON HEAD OF SCHOOL 50.00 X 440258 0 47453 DONNA TOBEY HEAD OF LOWER SCHOOL 50.00 X 165057 0 10095 RICHARD TUMMON DIRECTOR OF COMMUNICATIONS & TEACHER 50.00 X 114898 0 25992 888463 0 115005 4 0 1 0 IBIS BUILDING CORPORATION 3600 INVESTMENT LN 101 WEST PALM BEACH FL 33407 CONSTRUCTION 4267314 BLUE CROSS BLUE SHIELD PO BOX 1798 JACKSONVILLE FL 322310014 HEALTH CARE 814007 WELLS FARGO BANK 420 MONTGOMERY STREET SAN FRANCISCO CA 94014 FINANCIAL SERVICES 657822 FLORIDA POWER AND LIGHT 700 UNIVERSE BLVD JUNO BEACH FL 33408 UTILITIES 214714 CLEANING COMPANY OF AMERICA 350 SW 12TH AVE DEERFIELD BEACH FL 33442 JANITORIAL SERVICES 117796 5 405470 2143289 242742 2548759 TUITION AND FEES 611110 11975293 11975293 AUXILIARY SERVICES 611110 463453 463453 STUDENT ACTIVITIES 611110 68273 68273 12507019 161496 161496 168494 -168494 -168494 -168494 370033 405470 155036 214997 214997 MISCELLANEOUS 611110 80569 80569 80569 15344346 12587588 0 207999 3014071 3014071 773565 605315 168250 5743776 4327952 1248949 166875 538933 411831 118308 8794 767446 586452 168472 12522 461241 352462 101253 7526 60324 60324 59347 59347 22499 22499 40367 40367 137460 67081 70379 110542 110542 1053600 513090 540510 7514 7514 289185 289185 747991 546033 201958 359136 359136 OTHER EXPENSE 585988 140164 141787 304037 BOND SWAP PAYMENT 348393 348393 STUDENT ACTIVITIES 162796 162796 BAD DEBT 106946 106946 63217 63144 73 15454337 10900933 4053650 499754 3327377 1245678 2078274 1105073 102888 57971 739163 727819 41872333 14278401 23553338 27593932 7068980 7268288 31024 31024 36901044 38029785 1258942 1970147 1706829 1972093 10734197 10493584 275000 250000 3913905 3033402 17888873 17719226 X 13781445 17770109 5230726 2540450 19012171 20310559 36901044 38029785 X -109991 553805 854574 X 0 1 X 1 0 X 8498155 1296825 293611 4189032 5899559 9082028 1343351 405449 2332673 8498155 5349813 5412078 -48192 1631671 9082028 4767913 2468826 65832 1952758 5349813 4963171 832190 431563 1459011 4767913 0.57000 0.00000 0.43000 0 0 6334339 6334339 23448780 10215327 13233453 1370348 1278983 91365 10718866 2784091 7934775 27593932 MARKET VALUES OF CASH FLOW HEDGE 2980814 CAPITAL LEASE 52588 3033402 X 13871191 553805 1009610 1563415 12307776 22499 3014071 3036570 15344346 12572803 155036 155036 12417767 22499 3014071 3036570 15454337 PART V, LINE 4: THE ENDOWMENT FUND WAS CREATED TO ENSURE THE FINANCIAL STABILITY OF THE SCHOOL. THE SCHOOLS FUNDS CONSIST OF DONOR-RESTRICTED FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS AN ENDOWMENT. THE FUNDS ARE DESIGNATED BY THE BOARD OF TRUSTEES TO VARIOUS FUNCTIONS BASED UPON DONOR INTENT. PART X, LINE 2: THE SCHOOL HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN THE FINANCIAL STATEMENTS. THE SCHOOL IS REQUIRED TO OPERATE IN CONFORMITY WITH THE PROVISIONS OF THE IRC TO MAINTAIN ITS EXEMPT STATUS. MANAGEMENT ANALYZES TAX POSITIONS IN JURISDICTIONS WHERE IT IS REQUIRED TO FILE INCOME TAX RETURNS. BASED ON ITS EVALUATION, MANAGEMENT DID NOT IDENTIFY ANY TAX POSITIONS FOR WHICH IT IS REASONABLY POSSIBLE THAT THE TOTAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS WILL SIGNIFICANTLY INCREASE OR DECREASE. INTEREST AND PENALTIES ATTRIBUTABLE TO INCOME TAXES, IF ANY, ARE INCLUDED IN OPERATING EXPENSES. NO SUCH INTEREST OR PENALTIES WERE RECORDED FOR THE YEARS 2018 OR 2017. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR FISCAL YEARS PRIOR TO 2015. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES 155,036. UNREALIZED CASH FLOW HEDGE GAIN 854,574. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND TUITION REMISSION 3,014,071. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES 155,036. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND TUITION REMISSION 3,014,071. 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 PALM BEACH DAY ACADEMY HAS ITS POLICY PRINTED IN THE SCHOOL BROCHURE, WHICH IS SENT WITH THE SCHOOL APPLICATION TO ALL PROSPECTIVE STUDENTS DURING THE REGISTRATION PERIOD. THE ACADEMY ALSO INCLUDES ITS POLICY IN LOCAL ADVERTISEMENTS. AUCTION 694513 371100 323413 128155 GOLF TOURNAMENT 80990 34370 46620 26881 0 775503 405470 370033 155036 155036 214997 1 SCHOLARSHIPS & TUITION REMISSION 153 3014071 FMV PART I, LINE 2: FINANCIAL AID IS AWARDED BASED ON FINANCIAL NEED. FINANCIAL NEED IS DETERMINED FROM A COMPLETED FINANCIAL AID APPLICATION SUBMITTED BY THE FAMILY REQUESTING AID. THE SCHOOL'S FINANCIAL AID COMMITTEE USES A NATIONALLY RECOGNIZED THIRD-PARTY SERVICE TO HELP TO OBJECTIVELY DETERMINE A FAMILY'S ABILITY TO PAY FOR SCHOOL TUITION AND OTHER EDUCATIONAL EXPENSES, BASED ON A PARENTS' FINANCIAL STATEMENT AND ANY ADDITIONAL SUPPORTING DOCUMENTATION FROM THE FAMILY AS MAY BE NEEDED. TUITION REMISSION IS AWARDED TO EMPLOYEES OF THE SCHOOL, HIRED PRIOR TO NOVEMBER 1, 2017, IN A COMBINATION OF POLICY AND NEED BASIS. X 1 0 X X 0 0 0 0 0 0 0 0 0 WILLIAM J COYLE DIRECTOR OF FINANCE & OPERATIONS 168250 0 0 0 0 0 16825 0 14640 0 199715 0 0 0 DR EDWIN P GORDON HEAD OF SCHOOL 374258 0 66000 0 0 0 32813 0 14640 0 487711 0 0 0 DONNA TOBEY HEAD OF LOWER SCHOOL 165057 0 0 0 0 0 4839 0 5256 0 175152 0 0 0 A PALM BEACH COUNTY FLORIDA 009747486 2013-04-01 12000000 TO REPAY CERTAIN LONG-TERM DEBT AND CAPITAL LEASE OBLIGATIONS. 0 0 0 A 0 0 0 0 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 A 0 X 51266 FAIR MARKET VALUE X 1 18500 FAIR MARKET VALUE X 2 16247 FAIR MARKET VALUE X 22 15790 FAIR MARKET VALUE X DINING, TRAVEL & ENTERTAINMENT PACKAGES 76 106514 FAIR MARKET VALUE X SPORTS PACKAGES 19 34425 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE BOARD HAS AUTHORIZED THE FINANCE COMMITTEE TO REVIEW AND APPROVE THE FORM 990. A COPY OF THE APPROVED FORM 990 IS DISTRIBUTED TO ALL BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS ANNUALLY DISCLOSED BY THE BOARD OF TRUSTEES. THE BOARD REVIEWS THE CONFLICT OF INTEREST POLICY AND MONITORS THE POLICY TO ENSURE COMPLIANCE. FORM 990, PART VI, SECTION B, LINE 15 THE HEAD OF SCHOOLS SALARY IS SET BY THE BOARD OF TRUSTEES UPON RECOMMENDATIONS FROM THE HEAD SUPPORT AND EVALUATION COMMITTEE. A THOUGHTFUL PROCESS, INCLUDING COMPARABILITY STUDIES ARE PERFORMED BY THE COMMITTEE. THE BOARD OF TRUSTEES APPROVES THE COMMITTEES RECOMMENDATIONS. THE HEAD OF SCHOOL MAKES A RECOMMENDATION FOR THE SALARY OF THE DIRECTOR OF FINANCE AND OPERATIONS BASED ON COMPARABLE COMPENSATION DATA FOR SIMILARLY QUALIFIED PERSONS AND IS APPROVED IN THE BUDGET BY THE FINANCE COMMITTEE AND BOARD OF TRUSTEES. THIS PROCESS IS COMPLETED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED CASH FLOW HEDGE GAIN 854,574.