2017-11-10T14:45:25-06:00 2017-06-30 141918990 TEMPLETON & COMPANY LLP 222 LAKEVIEW AVENUE SUITE 1200 WEST PALM BEACH FL 33401 990 2016-07-01 590942383 SAINT ANDREW'S SCHOOL OF BOCA RATON INC STAN 5612102032 3900 JOG ROAD BOCA RATON FL 33434 PHILIP CORK ASSISTANT TREASURER 5612102032 2017-11-10 1 RICHARD JUBACK P00630706 5617989988 50.59.205.54 2017-11-10 15:45:11 ES P D5F535719D52BE720B46303C0AEDAF013437AA78 F8C6A8352F610260FD2A5DB2BC9F6D2F194FF3F2 2016 2018-03-14 21:41:22Z PHILIP CORK 3900 JOG ROAD BOCA RATON FL 33434 43833014 0 X WWW.SAINTANDREWS.NET X 1962 FL SAINT ANDREW'S SCHOOL WAS CHARTERED AS A BOARDING SCHOOL BY THE EPISCOPAL SCHOOL FOUNDATION IN BOCA RATON, FLORIDA IN 1961. THE SCHOOL'S MISSION WAS TO PROVIDE A RIGOROUS ACADEMIC EDUCATION TO 122 UPPER SCHOOL BOYS. OVER THE YEARS THE SCHOOL HAS EXPANDED IN SCOPE AND MISSION TO BECOME AN INDEPENDENT, CO-EDUCATIONAL SCHOOL WITH 1300 STUDENTS FROM GRADES JK - 12. TODAY, SAINT ANDREW'S IS BOTH A DAY AND BOARDING SCHOOL, EDUCATING STUDENTS FROM ACROSS THE UNITED STATES AND THROUGHOUT THE WORLD."HONOR ABOVE ALL" IS RECOGNIZED AS THE CORE VALUE OF THE SCHOOL, EMBODIED IN AN HONOR SYSTEM THAT UPHOLDS THE MORAL AND ETHICAL FOUNDATION OF THE SCHOOL'S MISSION. ACADEMIC EXCELLENCE AND EDUCATION IN MIND, BODY, AND SPIRIT REFLECT THE SAINT ANDREW'S EXPERIENCE. THE SCHOOL HAS DEVELOPED A CHALLENGING COLLEGE PREPARATORY CURRICULUM, AN IMPRESSIVE ATHLETIC RECORD, AND A DEEP COMMITMENT TO COMMUNITY SERVICE. 17 17 503 150 52652 24572 6292975 1807784 39346454 40576419 287026 294091 490626 390270 46417081 43068564 4977222 5330381 0 0 21025465 22242490 0 0 1539251 18441187 18165503 44443874 45738374 1973207 -2669810 79342943 80100854 54109155 53594068 25233788 26506786 X SAINT ANDREW'S SCHOOL WAS CHARTERED AS A BOARDING SCHOOL BY THE EPISCOPAL SCHOOL FOUNDATION IN BOCA RATON, FLORIDA, IN 1961. THE SCHOOL'S MISSION WAS TO PROVIDE A RIGOROUS ACADEMIC EDUCATION TO 122 UPPER SCHOOL BOYS. OVER THE YEARS THE SCHOOL HAS EXPANDED IN SCOPE AND MISSION TO BECOME AN INDEPENDENT, CO-EDUCATIONAL SCHOOL WITH 1,295 STUDENTS FROM GRADES JK - 12. TODAY, SAINT ANDREW'S IS BOTH A DAY AND BOARDING SCHOOL, EDUCATING STUDENTS FROM ACROSS THE UNITED STATES AND THROUGHOUT THE WORLD."HONOR ABOVE ALL" IS RECOGNIZED AS THE CORE VALUE OF THE SCHOOL, EMBODIED IN AN HONOR SYSTEM THAT UPHOLDS THE MORAL AND ETHICAL FOUNDATION OF THE SCHOOL'S MISSION. ACADEMIC EXCELLENCE AND EDUCATION IN MIND, BODY, AND SPIRIT REFLECT THE SAINT ANDREW'S EXPERIENCE. THE SCHOOL HAS DEVELOPED A CHALLENGING COLLEGE PREPARATORY CURRICULUM, AN IMPRESSIVE ATHLETIC RECORD, AND A DEEP COMMITMENT TO COMMUNITY SERVICE. 0 0 31344735 5330381 38523983 ACADEMIC PROGRAM:- INSTRUCTION TO APPROXIMATELY 1,295 STUDENTS FROM GRADES PK-12 - INTERNATIONAL BACCALAUREATE PYP PROGRAM FOR PRE-K THROUGH 5TH GRADES, MYP 6TH THROUGH 10TH GRADES, WITH IB DIPLOMA FOR 11TH & 12TH GRADES.- STUDENT ACTIVITIES- STUDENT FOOD SERVICES- SUMMER PROGRAMS 3628162 2401544 AUXILIARY SERVICES:- SCHOOL PUBLICATIONS, NEWSPAPER & YEARBOOK- AUXILIARY FACILITIES USAGE- INFIRMARY- SCHOOL STORE 34972897 1 1 0 0 0 0 0 1 0 1 1 1 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 51 0 503 1 1 1 0 0 0 0 1 0 0 0 X 17 17 0 0 1 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 0 0 FL X X PHILIP CORK 5612102032 3900 JOG ROAD BOCA RATON FL 33434 DR STEVEN M SHAPIRO CHAIR 3.00 X X 0 0 0 MICHAEL A BOBER VICE CHAIR & TREASURER 3.00 X X 0 0 0 CATHERINE T COOMBS SECRETARY 3.00 X X 0 0 0 MARC SCOTT ASSISTANT SECRETARY 3.00 X X 0 0 0 MICHAEL F ZAMMIELLO MEMBER-AT-LARGE 3.00 X X 0 0 0 KENNETH M BLATT TRUSTEE 1.00 X 0 0 0 DR ALBERT S COHEN TRUSTEE 1.00 X 0 0 0 HOWARD T ELIAS TRUSTEE 1.00 X 0 0 0 PAOLA L JAKOBSON TRUSTEE 1.00 X 0 0 0 BRIAN S KESSLER TRUSTEE 1.00 X 0 0 0 THOMAS E LYNCH TRUSTEE 1.00 X 0 0 0 CAREN SNEAD WILLIAMS TRUSTEE 1.00 X 0 0 0 MELISSA WIGHT TRUSTEE 1.00 X 0 0 0 DR JAMES BYER EX OFFICIO/INTERIM HEADMASTER 40.00 X X 157568 0 0 THE RIGHT REVEREND PETER EATON EX OFFICIO 1.00 X 0 0 0 JASON E JENNINGS EX OFFICIA/ALUMNI BOARD 1.00 X 0 0 0 KATHLEEN A ASSAF TRUSTEE EMERITI 1.00 X 0 0 0 PETER BENEDICT EX OFFICIO/HEADMASTER (UNTIL APRIL 2016) 40.00 X 430209 0 12881 PHILIP CORK ASSOC HEADMAST OF FINANCE 40.00 X 241559 0 19309 PETER GALLO ASSOC HEADMAST OF DEVELOPM 40.00 X 168056 0 16445 SARA RUBINSTEIN ASSOC HEADMASTER FOR ACADEMICS 40.00 X 158472 0 14934 ELIAS BASSIL CHIEF INFORMATION OFFICER 40.00 X 146313 0 16709 KATHY VAN VALKENBURG BUSINESS MANAGER 40.00 X 132545 0 20041 THOMAS FALLS DIRECTOR OF OPERATIONS 40.00 X 143903 0 3531 1578625 0 103850 13 1 1 0 0 183575 1624209 45980 1807784 TUITION BOARD & FEES 611110 38880820 38880820 SUMMER CAMPS & PROGRAMS 611710 1464644 1464644 FACILITY REVENUES 611710 144897 144897 STUDENT PUBLICATIONS 611710 86058 86058 40576419 293568 293568 41081 40558 523 523 523 232609 183575 244099 -11490 -11490 601233 479793 121440 121440 OTHER MISCELLANEOUS 611710 227668 227668 COLLEGE POOL RENTAL 532000 52652 52652 280320 43068564 40925527 52652 282601 5330381 5330381 1578624 1058207 520417 16480771 12176979 3438005 865787 2837072 2091735 607795 137542 1346023 992405 288363 65255 825799 825799 50683 50683 52267 52267 387578 273267 114311 310311 6184 171932 132195 105143 15297 83303 6543 5267572 4961506 266800 39266 211425 33956 82154 95315 1267624 633812 633812 3473149 3271346 175913 25890 53756 53756 CONTRACTED FOOD SERVICE 1969497 1969497 BAD DEBT 886013 886013 REPAIRS AND MAINTENANCE 690750 534588 156162 ACADEMIC SUPPLIES EXPEN 475877 475877 2138059 1367371 713541 57147 45738374 34972897 9226226 1539251 11777228 11566089 872861 197996 5364865 4033119 215026 285033 436257 402093 673852 633233 96470118 52135814 42785158 44334304 9910414 13370644 6937645 4909556 369637 368787 79342943 80100854 1394914 1107807 17615767 18361143 27676659 29241590 7421815 4883528 54109155 53594068 X 9631047 12706937 4242870 2077417 11359871 11722432 25233788 26506786 79342943 80100854 X -2669810 1919344 2023464 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 0 18987466 -3141073 1516711 17363104 17655532 1368968 -37034 18987466 13837558 3809153 8821 17655532 13376020 429955 31583 13837558 13695019 -306924 -12075 13376020 0.20500 0.67500 0.12000 0 0 4958242 4958242 63201714 32306055 30895659 11640420 10363757 1276663 16669742 9466002 7203740 44334304 CORPORATE DEBT SECURITIES 3928146 F GOVERNMENT DEBT SECURITIES 762447 F PRIVATE FUNDS 218963 F 4909556 FINANCIAL DERIVATIVE - INTEREST RATE SWAP 4455345 CAPITAL LEASE 428183 4883528 X 40137113 1919344 531853 2451197 37685916 52267 5330381 5382648 43068564 40887579 531853 531853 40355726 52267 5330381 5382648 45738374 PART III, LINE 4: THE SCHOOL MAINTAINS MAYAN POTTERY AND PAINTINGS TO ASSIST IN THE EDUCATION OF THE TOPIC TO THE STUDENT BODY AND TO PRESERVE FOR THE USE OF FUTURE STUDENTS. PART V, LINE 4: THE INTENDED USE OF THE ENDOWMENT FUNDS IS TO GENERATE INCOME TO SUPPORT FINANCIAL AID, TO SUPPORT FACULTY SALARIES, TO FUND PROFESSIONAL DEVELOPMENT AND TO MAINTAIN FACILITIES. PART X, LINE 2: SAINT ANDREW'S AND THE FUND HAVE BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS ORGANIZATIONS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. SAINT ANDREW'S AND THE FUND ARE REQUIRED TO OPERATE IN CONFORMITY WITH THE PROVISIONS OF THE IRC TO MAINTAIN THEIR EXEMPT STATUS. THE SCHOOL ANALYZES TAX POSITIONS IN JURISDICTIONS WHERE IT IS REQUIRED TO FILE INCOME TAX RETURNS. BASED ON ITS EVALUATION, THE SCHOOL DID NOT IDENTIFY ANY TAX POSITIONS FOR WHICH IT IS REASONABLY POSSIBLE THAT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS WILL SIGNIFICANTLY INCREASE OR DECREASE. FOR THE YEARS ENDED JUNE 30, 2017 AND 2016, THERE WERE NO RELATED INTEREST OR PENALTIES RECORDED OR INCLUDED IN THE SCHOOL'S FINANCIAL STATEMENTS. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR FISCAL YEARS PRIOR TO 2014. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 479,793. RENTAL EXPENSE 52,060. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS PAID 5,330,381. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 479,793. RENTAL EXPENSES 52,060. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS PAID 5,330,381. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 ADVERTISEMENTS ARE PLACED IN THREE NEWSPAPERS SERVING AREAS FROM WHICH STUDENTS ARE RECRUITED. COPIES OF ADVERTISEMENTS ARE ON FILE IN ACCORDANCE WITH REVENUE PROCEDURES 75-70, SECTION 7. AUCTION 393215 183575 209640 111783 4 22969 22969 132316 416184 183575 232609 244099 244099 -11490 1 FINANCIAL AID (161)/TUITION REMISSION (100) 261 0 5330381 COST OF ATTENDANCE 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 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. X 1 1 X X X 0 0 0 0 0 0 0 0 0 DR JAMES BYER EX OFFICIO/INTERIM HEADMASTER 157568 0 0 0 0 0 0 0 0 0 157568 0 0 0 PETER BENEDICT EX OFFICIO/HEADMASTER (UNTIL APRIL 2 430209 0 0 0 0 0 9760 0 3121 0 443090 0 0 0 PHILIP CORK ASSOC HEADMAST OF FINANCE 241559 0 0 0 0 0 15531 0 3778 0 260868 0 0 0 PETER GALLO ASSOC HEADMAST OF DEVELOPM 168056 0 0 0 0 0 11234 0 5211 0 184501 0 0 0 SARA RUBINSTEIN ASSOC HEADMASTER FOR ACADEMICS 158472 0 0 0 0 0 8692 0 6242 0 173406 0 0 0 ELIAS BASSIL CHIEF INFORMATION OFFICER 146313 0 0 0 0 0 11498 0 5211 0 163022 0 0 0 KATHY VAN VALKENBURG BUSINESS MANAGER 132545 0 0 0 0 0 15130 0 4911 0 152586 0 0 0 PART I, LINE 1A CERTAIN KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES RECEIVE A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE FOR THE BENEFIT OF THE SCHOOL. A PALM BEACH COUNTY FLORIDA 596000785 2014-09-02 28730000 SEE SCHEDULE O 0 0 0 A 0 0 0 0 A 0 0 0 0 0 0 0 A 0 0 0 0 1 1 BANK OF AMERICA 31.300000000000 0 0 0 0 0 A 0 X 4 40558 FMV X FURNITURE AND EQUIPMENT 1 3199 FMV X ENTERTAINMENT 1 2223 FMV 0 0 0 FORM 990, PART 1, LINE 1, DESCRIPTION OF ORGANIZATION MISSION (CON'T): THE ACADEMIC PROGRAM IS DESIGNED WITH A COMMITMENT TO EDUCATING THE "WHOLE CHILD" WHILE INSTILLING A DEDICATION TO LIFE-LONG LEARNING. THE SCHOOL PRODUCES GRADUATES WHO HAVE EARNED AN OUTSTANDING RECORD OF COLLEGE PLACEMENT, AS WELL AS ACHIEVEMENT IN SCHOLARSHIP, THE ARTS, AND ATHLETICS. AS AN EPISCOPAL SCHOOL, WE WELCOME STUDENTS OF ALL FAITHS, CUSTOMS, CULTURES ADN BELIEFS. ADMISSION IS HIGHLY COMPETITIVE AND APPLICANTS ARE ACCEPTED WITHOUT REGARD TO ECONOMICS, ETHNICITY, OR DENOMINATIONAL STATUS. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION (CON'T): THE ACADEMIC PROGRAM IS DESIGNED WITH A COMMITMENT TO EDUCATING THE "WHOLE CHILD" WHILE INSTILLING A DEDICATION TO LIFE-LONG LEARNING. THE SCHOOL PRODUCES GRADUATES WHO HAVE EARNED AN OUTSTANDING RECORD OF COLLEGE PLACEMENT, AS WELL AS ACHIEVEMENT IN SCHOLARSHIP, THE ARTS, AND ATHLETICS. AS AN EPISCOPAL SCHOOL, WE WELCOME STUDENTS OF ALL FAITHS, CUSTOMS, CULTURES AND BELIEFS. ADMISSION IS HIGHLY COMPETITIVE AND APPLICANTS ARE ACCEPTED WITHOUT REGARD TO ECONOMICS, ETHNICITY, OR DENOMINATIONAL STATUS. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE IS RESPONSIBLE FOR THE FOLLOWING: A. COORDINATING THE STRATEGIC PLANNING PROCESS FOR THE SCHOOL AND THE BOARD. B. EVALUATING THE HEAD OF SCHOOL ON AN ANNUAL BASIS AFTER SOLICITING INPUT FROM THE BOARD OF TRUSTEES. C. MONITOR THE IMPLEMENTATION OF THE STRATEGIC PLAN ADOPTED BY THE BOARD, AND FROM TIME TO TIME SHALL MAKE RECOMMENDATIONS TO THE BOARD CONCERNING MODIFICATION AND UPDATING OF ANY STRATEGIC PLAN PREVIOUSLY ADOPTED BY THE BOARD. D. WHEN THE BOARD OF TRUSTEES IS NOT IN SESSION, THE EXECUTIVE COMMITTEE MAY EXERCISE ALL OF THE AUTHORITY OF THE BOARD OF TRUSTEES IN THE MANAGEMENT OF THE CORPORATION EXCEPT: I. AUTHORITY SPECIFICALLY RESERVED TO THE BOARD OF TRUSTEES ELSEWHERE IN THE BY-LAWS; II. THE ELECTION AND REMOVAL OF OFFICERS; III. THE FILLING OF VACANCIES IN OFFICES OR ON THE BOARD OF TRUSTEES; IV. THE AMENDMENT OF THE BY-LAWS; V. THE REVISION OF TUITION; VI. THE APPROVAL OF THE BUDGET FORM 990, PART VI, SECTION A, LINE 4 IN MAY 2016, THE BOARD OF TRUSTEES AMENDED THE SCHOOL'S BYLAWS TO BETTER DEFINE THE ROLE OF THE TREASURER. FORM 990, PART VI, SECTION A, LINE 8B THE SCHOOL CONTEMPORANEOUSLY DOCUMENTS MEETINGS HELD, OR WRITTEN ACTIONS TAKEN, DURING THE YEAR BY EACH COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY, WITH THE EXCEPTION OF THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B ALL VOTING BOARD MEMBERS ARE PROVIDED A COPY OF FORM 990 FOR REVIEW PRIOR TO FILING. A COPY OF FORM 990 IS ALSO PROVIDED TO THE SCHOOL'S AUDIT COMMITTEE FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C SCHOOL HAS A WRITTEN CONFLICT OF INTEREST POLICY, WHICH REQUIRES THE BOARD OF TRUSTEES, OFFICERS AND MANAGERS TO REVIEW ANNUALLY THE REQUIREMENTS FOR THIS POLICY. THE BOARD, OFFICERS AND MANAGERS ACKNOWLEDGE ANNUALLY IN WRITING THEIR COMMITMENT TO FOLLOWING THIS POLICY. DETERMINATION OF WHETHER A CONFLICT EXISTS IS MADE BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, OR IF APPEALED BY THE FULL BOARD OF TRUSTEES. TRUSTEES, OFFICERS AND MANAGERS FOUND TO HAVE A CONFLICT OF INTEREST ARE PROHIBITED FROM DELIBERATIONS OR DECISIONS ON THE TRANSACTION. DISCLOSURE OR ACKNOWLEDGEMENT OF A CONFLICT OF INTEREST IS NOTED IN THE MINUTES OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15A HEADMASTER'S COMPENSATION APPROVED ANNUALLY BY BOARD OF TRUSTEES. CHAIR OF THE BOARD OF TRUSTEES MAKES RECOMMENDATION TO BOARD OF TRUSTEES, USING COMPARABLE COMPENSATION DATA FOR SIMILARLY QUALIFIED PERSONS IN SIMILAR HEADMASTER POSITIONS IN SIMILARLY SITUATED INDEPENDENT SCHOOLS. THIS PROCESS WAS LAST COMPLETED IN 2016. FORM 990, PART VI, SECTION C, LINE 19 UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON CASH FLOW HEDGE 2,023,464. FORM 990, PART XII, LINE 2C: THE SCHOOL'S AUDIT COMMITTEE HAS NOT CHANGED ITS OVERSIGHT OR SELECTION PROCESS OF THE AUDIT. FORM 990, SCHEDULE K, PART I, LINE (A), COLUMN (A) DESCRIPTION OF PURPOSE OF THE BOND: THE BONDS WERE FINANCED FOR THE ACQUISITION OF LAND, CONSTRUCTION AND EQUIPPING OF AN ADDITIONAL LOWER SCHOOL BUILDING AND IMPROVEMENTS ON THE RELATED TRACT OF LAND AND TO RETIRE THE SCHOOLS OUTSTANDING VARIABLE RATE DEMAND BOND REVENUE BONDS SERIES 2007.