2018-05-15T15:01:34-05:00 2017-06-30 350921680 CROWE HORWATH LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2016-07-01 350868071 Culver Educational Foundation CULV 5748428222 1300 Academy Road No 159 Culver IN 465111291 James Power Head of Schools 2018-05-15 true Nicole Bencik P00756195 3128997000 2016 2022-09-23 18:48:47Z James Power 1300 Academy Road No 159 Culver IN 465111291 171287167 false X www.culver.org X 1894 IN See Schedule O 31 31 1272 1000 -115358 -249263 41571456 17408333 42278475 45396125 14931074 15007157 2138305 3121845 100919310 80933460 12788965 13178795 0 38396171 40159112 0 5288870 24921503 26348514 76106639 79686421 24812671 1247039 528944957 547517277 97884519 86718051 431060438 460799226 X Culver's mission is to educate its students for leadership and responsible citizenship in society by nurturing the whole individual- mind, spirit and body - through integrated programs that emphasize the cultivation of character. false false 33338945 37803495 Culver promises top academics, competitive athletics and education you need to be a leader and a responsible global citizen in high school, in college and beyond. Culver encourages you to develop your individual interests and talents, all while helping you move beyond self-imposed limitations. Our mission to develop and nurture the whole person - mind, spirit and body - with our unique focus on leadership training means you receive the total educational experience that has set Culver above other schools for more than a century. Instruction is for grades 9-12, ranging from the arts and music to science, math and humanities as well as unique programs in leadership, wellness and a servant leadership project requirement for graduation. Instruction was provided to 814 students for the year ended June 30, 2017. 13178795 13178795 Culver Academies understands the financial commitment of an independent school education and focuses on maximizing our resources to provide opportunities to those families who qualify or warrant assistance. Culver offers need based financial aid assistance as well as non-need based awards. Need based aid depends solely on a family's financial profile and is independent from the admissions process. Scholarships / Merit awards are based on the strength of the candidate and can range from small amounts to full awards. The School provided financial assistance of $12,074,872 both merit and need-based, to 401 Boarding (winter) School students as of June 30, 2017. Financial aid also included $1,103,923 in assistance for 278 Summer School and Camps students. 7629686 8799468 Founded in 1902, Culver Summer Schools and Camps is a fun- filled, naturally beautiful 1,800-acre setting where over 1,300 young people from around the world, ages 7-17, develop positive self-esteem through accomplishment and self-discipline. It is a high challenge-high support-high reward environment for learning leadership skills that improve personal confidence. The Summer Schools and Camps program provided educational and leadership training as well as extensive outdoor activities for 1349 campers ages 7 to 17 during the year ended June 30, 3017. 10767993 Student Services Programs: A variety of student services and activities were provided, including Barber Shop, Laundry-Dry Cleaning, and Student Health Services. Services were provided to 814 Boarding School Students and 1349 Summer School campers as of June 30, 2017. 932567 582262 Student Services Programs, General/Other: Auxiliary services such as required uniform and a campus bookstore provided for convenience of students in winter and summer programs. (2163 students) 11700560 582262 65847986 true true false true false false false true false true true true false false true true true false true false true false false false true false false false true true false false false false false false true false true true false false true true false false false true 99 0 true 1272 true true true false false false false true true false false false false X 31 31 false false false false false false false true true false false false true true true true true true true false IN IL X Richard J Tompos 5748428222 1300 Academy Road No 159 Culver IN 465111291 Miles D White Chairman 8.0 0.0 X X 0 0 0 James A Henderson Chairman Emeritus 10.0 0.0 X X 0 0 0 Harry L Crisp II Vice President 3.0 0.0 X X 0 0 0 David M Culver Vice President 3.0 0.0 X X 0 0 0 Craig J Dushossois Vice President 3.0 0.0 X X 0 0 0 Jane D Eberly Vice President 3.0 0.0 X X 0 0 0 Paul C Gignilliat Vice President 5.0 0.0 X X 0 0 0 John D Zeglis Vice President 3.0 0.0 X X 0 0 0 Jeffrey P Adams Treasurer 8.0 0.0 X X 0 0 0 Dr Margaret E Thompson Secretary 6.0 0.0 X X 0 0 0 N Merritt Becker Trustee 3.0 0.0 X 0 0 0 Laura Schacht Bilicic Trustee 3.0 0.0 X 0 0 0 John J Bollman Trustee 3.0 0.0 X 0 0 0 Kathryn R Booth Trustee 5.0 0.0 X 0 0 0 Eric H Burns Trustee 3.0 0.0 X 0 0 0 Geroge T DeVries III Trustee 3.0 0.0 X 0 0 0 Peter A Fasseas Trustee 5.0 0.0 X 0 0 0 James E Fellowes Trustee 3.0 0.0 X 0 0 0 P Lamar Gable Trustee 3.0 0.0 X 0 0 0 Richard A Jennings Trustee 3.0 0.0 X 0 0 0 Jud Q Little Trustee 3.0 0.0 X 0 0 0 MG John W Peabody US Army Trustee 3.0 0.0 X 0 0 0 Bernardo Quintana Trustee 3.0 0.0 X 0 0 0 John Ruan Trustee 3.0 0.0 X 0 0 0 Robert C Vaughn Trustee 5.0 0.0 X 0 0 0 COL Dartanian Warr USAF Trustee 3.0 0.0 X 0 0 0 Michael R Wilcox Trustee 3.0 0.0 X 0 0 0 Whitney Kolb Alvis Trustee 3.0 0.0 X 0 0 0 William H Brewer Trustee 3.0 0.0 X 0 0 0 James S Gault Trustee 3.0 0.0 X 0 0 0 Thomas Story Trustee 3.0 0.0 X 0 0 0 James W F Brooks Trustee - Partial Year 5.0 X 0 0 0 EDWARD FOSTER Trustee- Partial Year 3.0 X 0 0 0 FRANKLIN D SCHURZ JR Trustee- Partial Year 3.0 X 0 0 0 James P Power Head of Schools 60.0 0.0 X 224216 0 32391 Richard Tompos Director and Controller 50.0 0.0 X 136020 0 67174 Michael Hogan Dir of Development 50.0 0.0 X 149043 0 36521 Kevin MacNeil Chief Academic Officer 50.0 0.0 X 141810 0 32438 Michael Turnbull Director of Admissions 50.0 0.0 X 119092 0 31604 Jeffry Kutch Dir of Facilities 50.0 0.0 X 121018 0 38071 Don Fox Dir of Summer Schools and Camp 50.0 0.0 X 126743 0 30723 John Buxton Former Head of Schools 3.0 0.0 X 413134 0 46191 1431076 0 315113 69 true true false Mosaic Building Solutions 709 S Clay St Fort Wayne IN 46802 General Contractor 918118 Hagerman Inc PO Box 11848 Fort Wayne IN 46861 General Contractor 862958 Strategic Capital Allocation Group LLC 800 Bolylston St Boston MA 02199 Investment Advisors 805726 Hebard & Hebard Architects Inc 216 W Washington St South Bend IN 46601 General Contractor 720163 Our Health Inc One American Square Indianapolis IN 46219 Health Services 675506 12 X 498535 16909798 2273504 17408333 Tuition & Fees for Students 611110 44985743 44985743 Student events/transportation 611110 410382 410382 0 0 0 0 45396125 3185746 -182902 3368648 395136 115436 279700 0 279700 29140 250560 99742796 180000 87838839 262546 11903957 -82546 11821411 11821411 572743 498535 119659 453084 453084 3079993 2017227 1062766 582262 20717 459787 International Medical Insurance 611110 562591 562591 Sports instruction fees 611620 95000 95000 Avery Farms 611110 46827 46827 621877 520107 0 101770 1326295 80933460 47185225 -115358 16455260 13178795 13178795 588060 135000 273060 180000 553195 5000 543195 5000 26205081 22330050 1440011 2435020 1380000 1115118 140208 124674 9566261 7730079 971933 864249 1866515 1508250 189638 168627 182903 182903 155233 155233 1560204 1560204 1505144 995506 438574 71064 450521 8266 32881 409374 1012676 632915 178009 201752 937252 468632 234304 234316 2503770 2372572 131198 908652 475301 96540 336811 229393 179911 49482 1482037 1404378 77659 6179138 5855351 323787 508141 481514 26627 Program-instructional support 3254519 2534397 561784 158338 Food 2134260 1788728 345532 Maintenance-equipment rentals 1853912 1726982 125543 1387 1490759 921241 471260 98258 79686421 65847986 8549565 5288870 1791300 2068236 1336745 2170114 26892022 12429778 954144 1375437 0 0 0 2117483 2211943 1666982 1931900 210074516 123245517 88333737 86828999 100039281 86161462 293918887 340419854 0 11894376 11919554 528944957 547517277 5456541 5598494 12781886 13700782 38300000 38300000 2435089 444665 38911003 28674110 97884519 86718051 X 13799972 23482266 63177938 77432253 354082528 359884707 431060438 460799226 528944957 547517277 X 1247039 19142340 9349409 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 20330 20330 false Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY The School is a member of a number of associations such as the National Association of Independent Schools, Independent Schools Association of the Central States and The Association of Boarding Schools, which may use a portion of membership dues to lobby on behalf of their members. Total dues paid to these organizations in Fiscal Year 2016-2017 were $20,330. Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY The School is a member of a number of associations such as the National Association of Independent Schools, Independent Schools Association of the Central States and The Association of Boarding Schools, which may use a portion of membership dues to lobby on behalf of their members. Total dues paid to these organizations in Fiscal Year 2016-2017 were $20,330. X X X false 394089700 18287615 34151173 17855477 1560204 427112807 399882176 19796637 -1855740 0 21827060 1906313 394089700 394727138 15164162 8814817 0 16799876 2024065 399882176 316616374 69887268 25159656 0 14854021 2082139 394727138 289191894 22597782 21941923 0 15563112 1552113 316616374 0.07 0.83 0.1 true false 2498657 2498657 167030456 93627251 73403205 39680995 29618266 10062729 864408 864408 86828999 Private Equity 42588353 F Hedge Funds 257626257 F Short term investments 29964460 F Real estate 10001036 F Miscellaneous other 239748 F 340419854 Accrued pension liability 15214137 Interest rate swap agreement 8845910 Gift annuities 4273684 Capital lease agreement 340379 28674110 X 87589123 19142340 -13178795 5963545 81625578 1560204 -2252322 -692118 80933460 57850335 2802211 2802211 55048124 1560204 23078093 24638297 79686421 Schedule D, Part III, Line 1a Collections of art - financial statement footnote Per Footnote 1 of the 2016-2017 audited financial statements: Contributions of works of art, historical treasures, and similar assets held as part of a collection for education, research or public exhibition purposes, rather than for sales or financial gain, are not recognized nor capitalized on the financial statements. Schedule D, Part III, Line 4 Collections of art - description of collections The Culver Educational Foundation maintains a collection of art works including portraits, paintings, photographs, and sculptures donated to the school. The Art Collection is housed within the Fine Arts Department, and items are displayed throughout campus on a rotating basis. The Crisp Arts Center has two galleries showcasing exhibits of the Culver collection. In addition, the School has a stamp collection maintained for student education, which is periodically displayed. Schedule D, Part V, Line 4 Intended uses of endowment funds The School's endowment is used for support of financial aid, faculty salaries, capital projects, facilities maintenance, and academic and student projects. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The School is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code and, except to the extent the School has unrelated business income, is exempt from federal income taxes. There was no provision for income taxes due on unrelated business income in fiscal years 2017 and 2016. The School recognizes as tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. Management evaluated the School's tax positons and concluded that the School had no material uncertainties in income taxes as of June 30, 2017 and 2016. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Financial Aid - -13178795 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements COGS Aux Dept - -2017227 Auction Expenses - -119659 Rental Expenses - -115436 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 COGS Aux Dept - 2017227 Pledge Write-Offs - 381650 Rental Expenses - 115436 Change in Trusts - 168239 Auction expenses - 119659 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Financial Aid - 13178795 Change in Charitable Annuities - 2206169 Minimum Pension Liability - 3290708 PV Future Swap - 4190324 Change in CSV - 212097 true true true true true true true false false false false false false false false false false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY The Culver Educational Foundation's admissions materials and applications for Winter School and Summer Camps include a statement of the School's non-discrimination policy. Human Resources includes a non-discrimination statement on all recruitment materials and advertisements for employment with the school. Central America and the Caribbean 0 0 Investments 158533616 Europe (Including Iceland and Greenland) 0 0 Investments 1374832 Sub-Saharan Africa 0 0 Investments 1538928 East Asia and the Pacific 0 0 Program Services Admissions travel 8610 East Asia and the Pacific 0 0 Fundraising Alumni events 2870 Europe (Including Iceland and Greenland) 0 0 Program Services Admissions travel 4685 Europe (Including Iceland and Greenland) 0 0 Fundraising Alumni events 1562 Middle East and North Africa 0 0 Program Services Admissions travel 2847 Middle East and North Africa 0 0 Fundraising Alumni events 949 North America (Canada & Mexico only) 0 0 Program Services Admissions travel 15343 North America (Canada & Mexico only) 0 0 Fundraising Alumni events 5114 South America 0 0 Program Services Admissions travel 13807 South America 0 0 Fundraising Alumni events 4602 0 0 0 0 0 0 161507765 0 161507765 true false true true true true Schedule F, Part I, Line 3 The School separately tracks foreign expenditures in its records and accounting system. Parent's Auction 1071278 498535 572743 0 0 0 12600 0 107059 0 0 1071278 498535 572743 0 0 0 12600 0 107059 119659 453084 true Merit and need-based financial aid 679 13178795 0 N/A N/A Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. Scholarships and need-based financial aid are granted to students who attend Culver Military Academy, Culver Girls Academy and the Culver Summer Schools and Camps. Scholarships are based upon merit, as determined by faculty-administrative staff committees, or upon financial need, determined by family information from SSS data. Detailed records are available at the Culver Educational Foundation. A Student Life committee reviews student academic performance and community involvement annually before renewing merit scholarships. Financial need is reviewed annually by the Financial Aid department before extending additional need-based aid. The School maintains records of the recipients and awards, which are available upon request. X true true X X X X X false true false false false false false false false James P Power Head of Schools 224216 0 0 0 0 0 22500 0 9891 0 256607 0 0 0 Richard Tompos Director and Controller 136020 0 0 0 0 0 13704 0 53470 0 203194 0 0 0 Michael Hogan Dir of Development 149043 0 0 0 0 0 15227 0 21294 0 185564 0 0 0 Kevin MacNeil Chief Academic Officer 141810 0 0 0 0 0 13694 0 18744 0 174248 0 0 0 Michael Turnbull Director of Admissions 119092 0 0 0 0 0 11934 0 19670 0 150696 0 0 0 Jeffry Kutch Dir of Facilities 121018 0 0 0 0 0 12199 0 25872 0 159089 0 0 0 Don Fox Dir of Summer Schools and Camp 126743 0 0 0 0 0 9985 0 20738 0 157466 0 0 0 John Buxton Former Head of Schools 413134 0 0 0 0 0 24600 0 21591 0 459325 0 0 0 Schedule J, Part I, Line 1a Housing allowance or residence for personal use The Culver Academies is a residential boarding school. As a requirement of employment, the Head of Schools, Academic Dean and Director of Facilities live on campus and are provided housing owned by the School. Listed employees who received housing are: John N. Buxton - $3,564 Jim Power - $3,564 Dr. Kevin MacNeil - $3,564 and Jefrey Kutch - $7,128. The value of this housing is included in the individual's non-taxable benefits. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan During the 2016 calendar year, the School maintained a supplemental non-qualified deferred compensation plan. The following reportable individual was eligible to participate in the plan: John N. Buxton, former Head of Schools. During 2016, there were no contributions made by the School to the plan. During 2016, there were no distributions made by the School to the plan. Pam Buxton Family Member of a Former Officer 88195 Benefit Payment false Mary Power Family member of an officer 55000 Employment compensation false X 1 43000 Selling cost X 24 1969848 Market value X Horses 3 20000 Other - DONOR APPRAISAL X Equipment and Supplies 11 63543 Other - DONOR APPRAISAL X Student and Alumni 58 177113 Other - DONOR APPRAISAL 0 false true true Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions The School receives security gifts through its custodial bank, who uses a broker/dealer to process security contributions. Form 990, Part I, Line 1 Located in Culver, IN, Henry Harrison Culver first founded Culver Military Academy in 1894 "for the purpose of thoroughly preparing young men for the best colleges, scientific schools and businesses of America." Culver Summer Schools and Camps began in 1902 and today brings over 1,400 campers from around the world to Culver to learn leadership skills that improve personal confidence. Coeducational since 1971, Culver Girls Academy was founded for the purpose of encouraging young women to attain the highest degree of self-development. Culver's mission is to educate its students for leadership and responsible citizenship in society by nurturing the whole individual- mind, spirit and body - through integrated programs that emphasize the cultivation of character. In addition, significant activities at Culver include The Ron Rubin School for the Entrepreneur, a Senior Service Project, the Global Pathways Spring Program and the Culver Equestrian Program. In today's global marketplace, entrepreneurship is the indispensable element to America's growth and prosperity and absolutely essential to our continued economic and political leadership in the world. Founded in 2006, The Ron Rubin School for the Entrepreneur provides adventurous Culver students with dynamic opportunities to learn--and practice--the skills of entrepreneurship that will prepare them for the real-world challenges of the 21st century. The program's fundamental objectives include helping participants gain a deeper understanding of creative and innovative thinking, adaptability, articulating arguments, collaboration and competition, learning from failures, and developing a global mind-set. Through interaction with highly successful entrepreneurs, field trips to exciting destinations, and challenging tasks that require collaboration and teamwork, students gain a deeper appreciation for innovation, creativity, and the magic of the entrepreneurial spirit. The Senior Service Project is the capstone of a student's Culver career and a requirement to graduate. It affords students the opportunity to integrate the best of what they have learned about themselves and leadership through a self-initiated practical experience that culminates into a meaningful response to a social need within a defined community. The end result will lead to an increased sense of competence, purpose and enlightenment within each student. The Global Pathways Spring program (GPS) provides service-learning and cultural exchange opportunities for students, faculty, staff, and patrons who have a desire to learn about another culture and to live responsibly as global citizens. There have been trips to seven states, Puerto Rico and twenty-three countries. The Culver Equestrian Program teaches students and campers' teamwork, attention to detail, and leadership. The Black Horse Troop, Lancers, Equestriennes, and the Summer Mounted Drill Team offer students and campers the opportunity to acquire not only physical strength and ability, but also the broader qualities of patience, perseverance, grit, and courage - the true hallmarks of an equestrian. Form 990, Part III, Line 1 Culver educates its students for leadership and responsible citizenship in society by developing and nurturing the whole individual--mind, spirit, and body--through integrated programs that emphasize the cultivation of character. Culver offers challenging programs in our classrooms and on the athletic fields and a strong sense of community. Culver creates opportunities for students to practice critical thinking and problem-solving to deepen understanding. Our integrated wellness program helps students understand and practice healthy lifestyles. Our commitment to spiritual development includes required weekly religious services. We are a community who believes in educating its students in the virtues of wisdom, justice, courage and moderation. Culver's philosophy is embodied in its Honor Code, its student leadership systems, and Ethics and Service-Learning requirements for graduation. We have high ideals and equally high expectations. Form 990, Part III, Line 4d Description of other program services (Expenses $ 10,767,993 including grants of $) Student Services Programs: A variety of student services and activities were provided, including Barber Shop, Laundry-Dry Cleaning, and Student Health Services. Services were provided to 814 Boarding School Students and 1349 Summer School campers as of June 30, 2017. Form 990, Part III, Line 4d Description of other program services (Expenses $ 932,567 including grants of $)(Revenue $ 582,262) Student Services Programs, General/Other: Auxiliary services such as required uniform and a campus bookstore provided for convenience of students in winter and summer programs. (2163 students) Form 990, Part VI, Line 11b Review of form 990 by governing body The Form 990 is prepared by the Business Office and reviewed by the Controller before external review by the School's tax firm. It is then reviewed and approved (excluding Schedule B) by the Budget, Audit and Human Resources committee. The full Board of Trustees has access to the Form 990 (excluding Schedule B) and is provided a summary briefing prior to filing the Form 990 with the Internal Revenue Service. Form 990, Part VI, Line 12c Conflict of interest policy Each member of the Board of Trustees completes an annual Conflict of Interest Statement disclosing any potential conflicts. Officers of the Board and administrative employees also complete an annual Conflict of Interest Statement. The Conflict of Interest Statements are reviewed and maintained in the Head of School's office. Any disclosure determined to be in violation of policy is addressed between the Head of Schools, the Chairman of the Board of Trustees, and the respective Trustee, Officer or employee. Form 990, Part VI, Line 15a Process to establish compensation of top management official The Compensation Committee of the Board of Trustees reviews performance and determines compensation for the Head of Schools. The committee reviews comparative compensation for the Head of Schools and school officers every May, with the most recent compensation review completed in May 2017. Compensation is based upon performance and peer school review, as supported recommendations and industry benchmarks. The committee documents the compensation deliberations and decisions in the minutes of the meeting. Form 990, Part VI, Line 15b Process to establish compensation of other employees The Compensation Committee of the Board of Trustees reviews performance and determines compensation for the Head of Schools. The committee reviews comparative compensation for the Head of Schools and school officers every May, with the most recent compensation review completed in May 2017. Compensation is based upon performance and peer school review, as supported recommendations and industry benchmarks. The committee documents the compensation deliberations and decisions in the minutes of the meeting. Form 990, Part VI, Line 19 Required documents available to the public Financial statements, conflict of interest policy and governing documents are available upon request for the same period of disclosure as set forth in Section 6104(d) from the Director of the Business Office & Controller or the Head of Schools of the Culver Educational Foundation. Copies of the documents are provided with state tax and corporate return filings and are regularly included with filings for property tax exemption and grant proposals as needed. In addition, information is provided to investment managers, bank officers and approved contractors as necessary or requested. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue Other - Total Revenue: 621877, Related or Exempt Function Revenue: 520107, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 101770; Form 990, Part XI, Line 9 Other changes in net assets or fund balances Minimum pension liability - 3290708; Present value of future swap - 4190324; Temp restricted cash surrender value - 201128; Beneficial interest in trusts - -168239; Perm restricted cash surrender value - 10969; Pledge write-offs - -381650; Charitable gift annuities - 2206169; FAFMC LLC 44 S Washington St New Bremen OH 45869 Cemetery IN 0 200000 Culver Educational Foundation Charitable Remainder Trusts (5) CO - Culver Educational Foundation 1300 Academy Road 159 Culver IN 46511 350868071 Trusts IN Culver Educational Foundation Trust false false false false false false false false false false false false false false false false false false false false