2018-04-30T12:32:58-05:00 2017-06-30 WITHUM SMITH BROWN PC 506 CARNEGIE CENTER STE 400 PRINCETON NJ 085406243 990 2016-07-01 210635004 THE PENNINGTON SCHOOL % J GRAEME MCWHIRTER PENN 6097371838 112 W DELAWARE AVE PENNINGTON NJ 08534 JGRAEME MCWHIRTER CFO 6097376120 2017-12-15 true PAUL V GERGEL P00116563 6095201188 50.224.76.26 22006220181205000028 2018-04-30 P 0509C29C70395331006511B37B3D6BCBED833A4B 0509C29C70395331006511B37B3D6BCBED833A4B 2016 2021-01-29 14:40:06Z JGRAEME MCWHIRTER 112 W DELAWARE AVE PENNINGTON NJ 08534 33389133 false X WWW.PENNINGTON.ORG X NOT-FOR-PROFIT 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 30 272 239 71818 70818 2097385 6875603 20778203 21991276 2452093 1482905 359717 471303 25687398 30821087 4279025 4974165 0 0 11435843 12274985 0 0 1045028 8052760 9294633 23767628 26543783 1919770 4277304 79724568 86390555 25208710 24806927 54515858 61583628 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 20960942 4974165 22256219 COEDUCATIONAL DAY/BOARDING SCHOOL SERVICING GRADES 6 THROUGH 12. 20960942 true true false false false false false false false true true false false false true true true false true false true false true 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 74 0 true 272 true true true false false false false false false false false 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 true false X J GRAEME MCWHIRTER 6097371838 112 W DELAWARE AVE PENNINGTON NJ 08534 X WILLIAM HAWKEY HEADMASTER 42.0 0.0 X X 325644 0 125158 ROBERT BECKETT TRUSTEE 2.0 0.0 X 0 0 0 JOHN 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 JINGOLI TRUSTEE 2.0 0.0 X 0 0 0 DENNIS KEATING TRUSTEE 2.0 0.0 X 0 0 0 JOHN KUHLTHAU TRUSTEE 2.0 0.0 X 0 0 0 REV DONALD MEDLEY TRUSTEE 2.0 0.0 X 0 0 0 REV DAVID MERTZ TRUSTEE 2.0 0.0 X 0 0 0 BISHOP JOHN SCHOL TRUSTEE 2.0 0.0 X 0 0 0 STEVEN M SILBERMAN TRUSTEE 2.0 0.0 X 0 0 0 JORDAN GRAY TRUSTEE 2.0 0.0 X 0 0 0 PETER J TUCCI ESQ TRUSTEE 6.0 0.0 X 0 0 0 REV ROBERT WILLIAMS TRUSTEE 2.0 0.0 X 0 0 0 DAVID PARAGAMIAN TRUSTEE 2.0 0.0 X 0 0 0 TIMOTHY VILE TRUSTEE 2.0 0.0 X 0 0 0 STEPHEN TAN TRUSTEE 2.0 0.0 X 0 0 0 REV VARLYNA WRIGHT TRUSTEE 2.0 0.0 X 0 0 0 JOHN BIDDISCOMBE TRUSTEE 2.0 0.0 X 0 0 0 DAVID LONG TRUSTEE 2.0 0.0 X 0 0 0 WILLIAM OLDSEY TRUSTEE 2.0 0.0 X 0 0 0 ANNE MICHAELSON TRUSTEE 2.0 0.0 X 0 0 0 MATTHEW PAULS TRUSTEE 2.0 0.0 X 0 0 0 JULIE WULF TRUSTEE 4.0 0.0 X 0 0 0 KEN ZIRK TRUSTEE 2.0 0.0 X 0 0 0 PHILIP BANCROFT TRUSTEE 2.0 0.0 X 0 0 0 HAROLD GEORGE TRUSTEE 2.0 0.0 X 0 0 0 IIANA 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 J GRAEME MCWHIRTER CHIEF FINANCIAL OFFICER 40.0 0.0 X 179816 0 54802 TODD PAIGE HEAD OF THE MIDDLE SCHOOL 40.0 0.0 X 112294 0 55909 TOM LIWOSZ FACULTY MEMBER 40.0 0.0 X 103069 0 41362 JOANNAH PROCKOP DIRECTOR THE LEARNING CENTER 40.0 0.0 X 103514 0 12176 CHARLIE BROWN DIRECTOR OF ADVANCEMENT 40.0 0.0 X 177965 0 27065 1002302 0 316472 6 false true false SODEXO INC AFFILIATES 9801 WASHINGTON BLVD GAITHERSBURG MD 20878 DINING SERVICES 1413720 COMMERCIAL CLEANING CORP 311 N CLINTON AVE TRENTON NJ 08638 HOUSEKEEPING SERVICE 277540 VOITH MACTAVISH ARCHITECTS LLP 1616 WALNUT STREET 24TH FLOOR PHILADELPHIA PA 19103 ARCHITECTS 404740 ADAMS-BICKEL ASSOCIATES LLC 341 N 10TH AVENUE SUITE 206 ROYERSFORD PA 194683807 CONSTRUCTION 4282983 TOTAL VIDEO PRODUCTS INC 414 SOUTHGATE CT MICKLETON NJ 08056 EQUIPMENT 158508 6 40619 6834984 190877 6875603 TUITION & FEES 21991276 21991276 21991276 713704 713704 0 0 195651 38555 157096 0 157096 65773 91323 3145720 2376519 769201 769201 769201 20549 40619 20549 0 0 0 175642 132423 43219 43219 OTHER 264943 264943 YEARBOOK ADVERTISING 541800 6045 6045 270988 30821087 22256219 71818 1617447 X 0 4604040 4604040 370125 370125 0 2040837 1480095 457312 103430 0 7987655 5798288 1784177 405190 595618 431965 133467 30186 974306 708188 216629 49489 676569 490674 151606 34289 0 28175 28175 66313 66313 0 0 150213 150213 26943 26943 0 0 56581 56581 94832 68776 21250 4806 76608 55559 21049 0 1014634 735852 227360 51422 0 0 80381 80381 476928 345887 131041 0 3144496 2280511 704621 159364 187453 187453 FOOD SERVICES 1275800 1275800 0 0 INSTRUCTIONAL EXPENSES 792836 792836 0 0 EQUIPMENT RENTAL & MAINTENANCE 602910 602910 0 0 HEADMASTER OFFICE 248025 179877 68148 0 971505 444782 319871 206852 26543783 20960942 4537813 1045028 X 0 0 5027868 5846779 3534466 4695997 186691 345491 0 0 0 0 0 0 82673 88507 707059 674575 59895452 20682578 37734640 39212874 32254968 35352775 0 0 0 0 0 0 196203 173557 79724568 86390555 3874296 2837330 0 0 4611567 5511579 15972827 15897033 0 0 0 0 398175 383367 0 0 351845 177618 25208710 24806927 X 33959318 39488922 10240263 11073303 10316277 11021403 54515858 61583628 79724568 86390555 X 4277304 2805466 -15000 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 34636006 397720 3981826 1450476 37565076 36007399 224519 -182682 1413230 34636006 35819985 782183 749694 1344463 36007399 29872301 1754564 5117979 924859 35819985 26850921 242656 3439158 660434 29872301 0.55350 0.29340 0.15310 false false 258677 258677 51542701 17875479 33667222 3499575 1213685 2285890 4594499 1593414 3001085 39212874 29000 SWAP TERMINATION LIABILITY 99508 LIABILITY INTEREST RATE SWAP 49110 177618 X 28541082 2805465 10097 -4782638 -1967076 30508158 312929 312929 30821087 21473313 10097 206527 216624 21256689 312929 4974165 5287094 26543783 SCHEDULE D, PART X, LINE 2 THE SCHOOL HAS ADOPTED THE APPLICATION OF ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE SCHOOL HAD NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2017. IN ADDITION, THE SCHOOL HAS NO INCOME TAX RELATED PENALTIES OR INTEREST FOR THE PERIODS IN QUESTION. THE SCHOOL FILES A TAX RETURN IN THE U.S. FEDERAL JURISDICTION. SCHEDULE D, PART XI, LINE 2D FINANCIAL AID GRANTS............................. (4,974,165) COST OF GOODS SOLD............................... 132,423 RENTAL EXPENSES.................................. 38,555 SPECIAL EVENTS EXPENSES.......................... 20,549 ---------------------------------------------------------------- TOTAL............................................ (4,782,638) SCHEDULE D, PART XII, LINE 2D COST OF GOODS SOLD................................ 132,423 RENTAL EXPENSES................................... 38,555 SPECIAL EVENT EXPENSES............................ 20,549 BAD DEBT EXPENSE.................................. 15,000 ----------------------------------------------------------------- TOTAL............................................. 206,527 SCHEDULE D, PART XII, LINE 4B FINANCIAL AID..................................... 4,974,165 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 62521 62521 62521 FINANCIAL AID OUTSIDE U.S. East Asia and the Pacific 1 500 FMV FINANCIAL AID OUTSIDE U.S. South America 2 74900 FMV FINANCIAL AID OUTSIDE U.S. Europe (Including Iceland and Greenland) 5 187300 FMV FINANCIAL AID OUTSIDE U.S. South Asia 1 26500 FMV FINANCIAL AID OUTSIDE U.S. Sub-Saharan Africa 2 80925 FMV false false false false false false AUCTION 61168 61168 44395 0 61168 61168 44395 44395 16773 true FINANCIAL AID 130 3445890 FMV SEE EXPLANATION FOR PART I, LINE 2 THERE WERE 141 RECIPIENTS (130 U.S. PERSONS) OF FINANCIAL AID AND 33 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 WILLIAM HAWKEY HEADMASTER 310105 0 0 0 15539 0 0 0 125158 0 450802 0 0 0 J GRAEME MCWHIRTER CHIEF FINANCIAL OFFICER 179420 0 357 0 39 0 0 0 54802 0 234618 0 0 0 TODD PAIGE HEAD OF THE MIDDLE SCHOOL 111875 0 380 0 39 0 0 0 55909 0 168203 0 0 0 CHARLIE BROWN DIRECTOR OF ADVANCEMENT 177463 0 463 0 39 0 0 0 27065 0 205030 0 0 0 PART I, LINE 4B - COMPENSATION QUESTIONS WILLIAM HAWKEY WAS PROVIDED A SUPPLEMENTAL PENSION IN 2016-2017. THE COST WAS $15,500. A NEW JERSEY ECONOMIC AUTHORITY 222045817 2014-06-17 7500000 INTEREST RATE SWAP AGREEMENTS false false false C PUBLIC FINANCE AUTHORITY 273866124 2017-03-29 10000000 CONSTRUCTION/CAPITAL IMPROVEMENTS false false false A 7500000 0 6620000 0 0 0 0 0 0 0 0 0 2017 false false true true C 0 0 9963333 0 0 0 36667 0 0 0 0 0 false false true true A false false false false 0.00000 0.00000 0.00000 false false false true C false false false false 0 false false false true A false false false false true true CITIZEN'S BANK 5. false false true 0 false false false C false false false false true false 0 false 0 false false A true C true WILLIAM HAWKEY HEADMASTER 34600 TUITION REMISSION TUITION REMISSION J GRAEME MCWHIRTER CHIEF FINANCIAL OFFICER 35450 TUITION REMISSION TUITION REMISSION TODD PAIGE HEAD OF THE MIDDLE SCHOOL 35450 TUITION REMISSION TUITION REMISSION BILLY HAWKEY SON OF HEADMASTER 39065 COMPENSATION AND BENEFITS false X 17 200508 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 15B 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 GAINS ON INVESTMENTS FOR THE CURRENT FISCAL YEAR END INCLUDE THE FOLLOWING: UNREALIZED GAIN ON INVESTMENT ....................... 2,663,603 UNREALIZED GAIN ON SWAP AGREEMENT.................... 141,861 ---------------------------------------------------------------- TOTAL UNREALIZED GAIN ON INVESTMENTS................ 2,805,464 FORM 990, PART XI, LINE 6 THE ORGANIZATION RECEIVED THE FOLLOWING IN-KIND GIFTS IN THE CURRENT FISCAL YEAR: IN-KIND CONTRIBUTION REVENUE.......................... 10,097 IN-KIND EXPENSES...................................... (10,097) ---------------------------------------------------------------- TOTAL IN-KIND CONTRIBUTIONS RECEIVED.................. -0- FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS FOR THE CURRENT FISCAL YEAR END INCLUDE THE FOLLOWING: BAD DEBT EXPENSE...................................... 15,000