2017-05-11T06:44:21-05:00 2016-06-30 340677006 MALONEY NOVOTNY LLC 1111 SUPERIOR AVE SUITE 700 CLEVELAND OH 441142540 990 2015-07-01 340714720 UNIVERSITY SCHOOL UNIV 2169320400 20701 BRANTLEY ROAD SHAKER HEIGHTS OH 44122 DAVID WRIGHT FINANCE DIRECTOR 2169320400 2017-05-10 1 CHRISTOPHER B ANDERSON P00226559 2163630100 2015 2021-01-29 14:40:06Z BENJAMIN REIN 20701 BRANTLEY ROAD SHAKER HEIGHTS OH 44122 49797591 0 X WWW.US.EDU X 1890 OH THE MISSION OF UNIVERSITY SCHOOL IS TO DEVELOP PROMISING AND MOTIVATED YOUNG BOYS INTO ACCOMPLISHED AND INDEPENDENT YOUNG MEN WHO ASPIRE TO MAKE A DIFFERENCE IN THE WORLD. 49 49 453 100 0 0 8549994 5074555 24756543 25544764 3388997 1878573 36660 119906 36732194 32617798 4554899 4661082 0 0 17931429 18667545 0 0 1111650 11326870 10725810 33813198 34054437 2918996 -1436639 165949488 152439241 29895553 22317227 136053935 130122014 X THE MISSION OF UNIVERSITY SCHOOL IS TO DEVELOP PROMISING AND MOTIVATED BOYS INTO ACCOMPLISHED AND INDEPENDENT YOUNG MEN WHO ASPIRE TO MAKE A DIFFERENCE IN THE WORLD. THE SCHOOL IS RIGOROUS. OUR PROGRAMS, LED BY CHALLENGING AND SUPPORTIVE FACULTY, PROMOTE INTELLECTUAL, PHYSICAL, CREATIVE, AND MORAL EXCELLENCE. WE BELIEVE THESE GOALS ARE BEST ACHIEVED IN A DIVERSE COMMUNITY WHERE TRADITION IS VALUED AND WHERE EVERY BOY IS KNOWN AND LOVED. 0 0 29982867 4661082 25544764 PROVIDE INSTRUCTION TO A REGULARLY-ENROLLED STUDENT BODY(KINDERGARTEN THROUGH GRADE 12) FOR WHICH A REGULAR FACULTY ANDCOLLEGE-PREPARATORY CURRICULUM ARE MAINTAINED. THERE WERE 876FULL-TIME STUDENTS ENROLLED AT THE SCHOOL DURING THE 2015-2016SCHOOL YEAR. 29982867 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 1 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 1 1 1 0 0 1 71 0 1 453 1 0 1 CA UC EI 0 0 0 0 0 0 0 0 X 49 49 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X DAVID J WRIGHT 2169320400 20701 BRANTLEY ROAD SHAKER HEIGHTS OH 44122 HENRY L MEYER III VICE PRESIDENT 1.00 0.00 X X 0 0 0 DAVID C FULTON JR VICE PRESIDENT 1.00 0.00 X X 0 0 0 JAMES B GRISWOLD TRUSTEE 1.00 0.00 X 0 0 0 CHRISTOPHER SMYTHE TREASURER 1.00 0.00 X X 0 0 0 ROBERT G MCCREARY III VICE PRESIDENT 1.00 0.00 X X 0 0 0 DALE S ADLER TRUSTEE 1.00 0.00 X 0 0 0 RICHARD C BRYAN VICE PRESIDENT 1.00 0.00 X X 0 0 0 BRENT BALLARD SR PRESIDENT 1.00 0.00 X X 0 0 0 ARTHUR L CLEMENTS III TRUSTEE 1.00 0.00 X 0 0 0 MATTHEW V CRAWFORD TRUSTEE 1.00 0.00 X 0 0 0 C MARTIN HARRIS TRUSTEE 1.00 0.00 X 0 0 0 RICHARD R HOLLINGTON IIII TRUSTEE 1.00 0.00 X 0 0 0 CHRISTOPHER M GORMAN TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM M MATTHES TRUSTEE 1.00 0.00 X 0 0 0 DAVID B OUTCALT TRUSTEE 1.00 0.00 X 0 0 0 TYLER T ZACHEM TRUSTEE 1.00 0.00 X 0 0 0 THOMAS A TORMEY VICE PRESIDENT 1.00 0.00 X X 0 0 0 DURGA CHIGURAPATI TRUSTEE 1.00 0.00 X 0 0 0 DEBORAH V DONLEY TRUSTEE 1.00 0.00 X 0 0 0 MICHAEL FOUST TRUSTEE 1.00 0.00 X 0 0 0 JOHN A GRISWOLD TRUSTEE 1.00 0.00 X 0 0 0 SUBER S HUANG TRUSTEE 1.00 0.00 X 0 0 0 JAMES C KRALIK TRUSTEE 1.00 0.00 X 0 0 0 CHARLES L MYERS TRUSTEE 1.00 0.00 X 0 0 0 STEPHEN A OSBORN VICE PRESIDENT 1.00 0.00 X X 0 0 0 LARRY I POLLOCK VICE PRESIDENT 1.00 0.00 X X 0 0 0 JEREMIAH B ROBINS TRUSTEE 1.00 0.00 X 0 0 0 FREDERICK G STUEBER II SECRETARY 1.00 0.00 X X 0 0 0 JD SULLIVAN JR TRUSTEE 1.00 0.00 X 0 0 0 STEVEN J TERRELL VICE PRESIDENT 1.00 0.00 X X 0 0 0 FRANKLIN P FLOYD JR TRUSTEE 1.00 0.00 X 0 0 0 RICHARD P STOVSKY TRUSTEE 1.00 0.00 X 0 0 0 JOHN M GHERLEIN TRUSTEE 1.00 0.00 X 0 0 0 RONALD S LEE TRUSTEE 1.00 0.00 X 0 0 0 CARL P SJOGREEN TRUSTEE 1.00 0.00 X 0 0 0 DAVID R SMITH TRUSTEE 1.00 0.00 X 0 0 0 CARL J TIPPIT TRUSTEE 1.00 0.00 X 0 0 0 DALE R NAYLOR TRUSTEE 1.00 0.00 X 0 0 0 MARC BYRNES VICE PRESIDENT 1.00 0.00 X X 0 0 0 FREDERICK ASBECK TRUSTEE 1.00 0.00 X 0 0 0 RALPH R BANKS TRUSTEE 1.00 0.00 X 0 0 0 PAMELA B DAVIS MD PHD TRUSTEE 1.00 0.00 X 0 0 0 THOMAS GRAHAM MD TRUSTEE 1.00 0.00 X 0 0 0 RAYMOND C HEADEN TRUSTEE 1.00 0.00 X 0 0 0 HOWARD W HANNA IV TRUSTEE 1.00 0.00 X 0 0 0 J DAVID HELLER TRUSTEE 1.00 0.00 X 0 0 0 ANTHONY J SALEWSKI TRUSTEE 1.00 0.00 X 0 0 0 NEIL SETHI TRUSTEE 1.00 0.00 X 0 0 0 MARQUES D TORBERT TRUSTEE 1.00 0.00 X 0 0 0 STEVE MURRAY HEADMASTER (FIRST HALF 2015) 40.00 0.00 X 196791 0 24836 DAVID WRIGHT FINANCE DIRECTOR 40.00 0.00 X 303471 0 38476 BENJAMIN REIN INCOMING HEADMASTER 40.00 0.00 X 167010 0 72858 WILLIAM O'NEIL ASSISTANT HEADMASTER 40.00 0.00 X 169961 0 28809 JONATHAN BRIDGE DIRECTOR OF ADVANCEMENT 40.00 0.00 X 334189 0 58722 BRUCE WILHELM HEAD OF SHAKER CAMPUS 40.00 0.00 X 158285 0 85578 GREG MALKIN DIRECTOR OF ENTREPRENEUR PROG. 40.00 0.00 X 143255 0 0 PETER DEVINE DIRECTOR OF IT/PLANT SERVICES 40.00 0.00 X 148914 0 32976 1621876 0 342255 15 0 1 0 SMITH & OBY 7676 NORTHFIELD ROAD WALTON HILLS OH 44146 BOILER/STEAM CONTRACTOR 140547 RITENOUR GROUP 2066 CASE PARKWAY SOUTH TWINSBURG OH 44087 INSTALLATION 117000 BIZ EDGE PO BOX 1263 TWINSBURG OH 44087 COMPUTER TECH 111125 3 217008 2503215 319620 2034712 176584 5074555 ACADEMIC TUITION 900099 21202000 21202000 STUDENT FEES 900099 3333342 3333342 AUXILIARY FUNCTIONS 900099 758505 758505 OTHER OPERATING INCOME 900099 250917 250917 25544764 2680064 2680064 49009 0 49009 49009 49009 16090644 165300 16933888 123547 -843244 41753 -801491 -801491 193255 217008 122358 70897 70897 32617798 25544764 0 1998479 4661082 4661082 343000 85750 171500 85750 13713656 11661057 1292242 760357 1302264 1002743 260453 39068 2267159 1745712 453432 68015 1041466 801929 208293 31244 8428 8007 421 88127 83721 4406 433209 324907 43321 64981 735564 588451 147113 520703 520703 573160 573160 3352379 3352379 211009 211009 AUXILIARY OPERATIONS 1018084 1018084 REPAIRS & MAINTENANCE 763602 763602 OTHER OPERATING EXPENSE 641081 576973 32054 32054 UTILITIES 624586 624586 1755878 1470740 259784 25354 34054437 29982867 2959920 1111650 5300523 4412385 6528215 2517340 332072 346600 183894 160930 1153891 1203538 109935521 44132054 67985812 65803467 41673285 40976265 38997498 35092814 3794298 1925902 165949488 152439241 2202674 1873257 2656573 1456720 22238796 17864615 2797510 1122635 29895553 22317227 X 79025935 79963495 11892731 4668422 45135269 45490097 136053935 130122014 165949488 152439241 -1436639 -4495282 0 X 0 1 X 1 0 X 15790200 9280183 6401216 8549994 5074555 45096148 15790200 9280183 6401216 8549994 5074555 45096148 23652337 21443811 2062550 2005877 2648911 2773815 2729073 12220226 193255 193255 57509629 118549366 0.37290 0.44080 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SPECIAL EVENT REVENUE - 2015 AMOUNT: $ 193,255. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 78824084 1259448 -2545869 3234134 74303529 81461782 1378211 -236404 3779505 78824084 72471451 903859 10881043 2794571 81461782 65623912 3265084 7307832 3725377 72471451 63647970 6010262 -720323 3313997 65623912 0.41300 0.58700 0 0 2715191 2715191 102808747 41730501 61078246 4411583 2401553 2010030 65803467 ALTERNATIVE INVESTMENTS 35092814 F 35092814 SPLIT INTEREST AGREEMENTS 263800 INTEREST RATE SWAP 58835 LINE OF CREDIT-CONSTRUCTION 800000 1122635 X 24654258 -4495282 723000 469824 -3302458 27956716 4661082 4661082 32617798 30565749 723000 449394 1172394 29393355 4661082 4661082 34054437 PART V, LINE 4: INTENDED USE OF ENDOWMENT FUNDS - INCOME FROM ENDOWMENT FUNDS AND BOARD-DESIGNATED FUNDS IS APPROPRIATED BASED ON AN APPROVAL PROCESS THROUGH THE BOARD OF TRUSTEES. SPECIFIC COMMITTEES RECOMMEND AMOUNTS TO BE DISBURSED FROM THE ACCUMULATED EARNINGS OF THE ENDOWMENT FUNDS, WHICH ARE THEN APPROVED FOR APPROPRIATION BY THE BOARD OF TRUSTEES. ENDOWMENT FUNDS DISBURSEMENTS ARE USED TO FURTHER THE EXEMPT EDUCATIONAL PURPOSES OF THE SCHOOL. PART X, LINE 2: FIN 48 (ASC 740) FOOTNOTE - INCOME TAXES- THE SCHOOL AND THE ASSOCIATION (A RELATED ORGANIZATION INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS) ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THEY BELIEVE THEY HAVE APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AND, AS SUCH, DO NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE SCHOOL'S AND THE ASSOCIATION'S FEDERAL EXEMPT ORGANIZATION BUSINESS RETURNS ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. PART XI, LINE 2D - OTHER ADJUSTMENTS: NET REVENUE OF UNIVERSITY SCHOOL ALUMNI ASSOCIATION WHICH WAS INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS WITH UNIVERSITY SCHOOL 469,824. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS INCLUDED IN REVENUE PER THE FINANCIAL STATEMENTS BUT SHOWN AS EXPENSE ON 990. 4,661,082. PART XII, LINE 2D - OTHER ADJUSTMENTS: NET EXPENSES OF UNIVERSITY SCHOOL ALUMNI ASSOCIATION WHICH WERE INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS WITH UNIVERSITY SCHOOL 449,394. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS INCLUDED IN REVENUE PER THE FINANCIAL STATEMENTS BUT SHOWN AS EXPENSE ON 990. 4,661,082. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL'S ADMISSION POLICIES ARE PUBLISHED IN FIVE MAJOR NEWSPAPERS EACH YEAR IN ACCORDANCE WITH REV. PROC. 75-50. AID FROM A GOVERNMENTAL AGENCY- PART I, LINE 6A: THE SCHOOL RECEIVES ALLOCATIONS FROM THE STATE OF OHIO UNDER THE AUXILIARY SERVICES PROGRAM, WHICH PROVIDES TEXTBOOKS, MATERIALS, REIMBURSEMENTS OF CERTAIN ADMINISTRATIVE COSTS, AND FOOD TO STUDENTS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 3171952 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 3750000 NORTH AMERICA 0 0 INVESTMENTS 1867450 0 0 0 0 0 0 8789402 0 8789402 1 0 1 0 1 0 AUCTION 410263 217008 193255 49945 4979 67434 410263 217008 193255 49945 4979 67434 122358 70897 1 STUDENT FINANCIAL AID 298 4661082 BOOK MONITORING USE OF GRANT FUNDS - PART I, LINE 2: UNIVERSITY SCHOOL GRANTS SCHOLARSHIPS ON AN AS-NEEDED BASIS WITHOUT REGARD TO RACE, RELIGION, OR CREED. ALL STUDENTS WHO PASS AN ENTRANCE EXAM ARE ELIGIBLE TO APPLY FOR FINANCIAL AID. APPLICATIONS ARE REVIEWED BY AN OUTSIDE AGENCY AND RECOMMENDATIONS ARE COMMUNICATED TO THE SCHOOL'S FINANCIAL AID COMMITTEE. THE COMMITTEE MEETS AND REVIEWS THE RECOMMENDATIONS AND AWARDS THE SCHOLARSHIPS ACCORDINGLY. X X X X 0 1 X X X X 0 0 0 0 0 0 0 1 0 STEVE MURRAY HEADMASTER (FIRST HALF 2015) 171791 0 25000 0 0 0 17300 0 7536 0 221627 0 0 0 DAVID WRIGHT FINANCE DIRECTOR 193264 0 110207 0 0 0 20200 0 18276 0 341947 0 75000 0 BENJAMIN REIN INCOMING HEADMASTER 167010 0 0 0 0 0 16800 0 56058 0 239868 0 0 0 WILLIAM O'NEIL ASSISTANT HEADMASTER 169961 0 0 0 0 0 17370 0 11439 0 198770 0 0 0 JONATHAN BRIDGE DIRECTOR OF ADVANCEMENT 192189 0 125000 0 17000 0 19550 0 39172 0 392911 0 0 0 BRUCE WILHELM HEAD OF SHAKER CAMPUS 158285 0 0 0 0 0 16275 0 69303 0 243863 0 0 0 GREG MALKIN DIRECTOR OF ENTREPRENEUR PROG. 118002 0 25253 0 0 0 12030 0 11992 0 167277 0 0 0 PETER DEVINE DIRECTOR OF IT/PLANT SERVICES 143914 0 0 0 5000 0 14700 0 18276 0 181890 0 0 0 BENEFITS PROVIDED TO CERTAIN EMPLOYEES - PART I, LINE 1A: TRAVEL FOR COMPANIONS: THE HEADMASTERS'S WIFE RECEIVES REIMBURSEMENTS FOR TRAVEL EXPENSES FROM THE SCHOOL ONLY WHEN THERE IS A BUSINESS PURPOSE FOR HER ACCOMPANYING HER HUSBAND ON TRIPS. THESE REIMBURSEMENTS ARE NOT TREATED AS TAXABLE INCOME TO THE HEADMASTER. HOUSING ALLOWANCE: THE SCHOOL PROVIDES A HOUSE ON CAMPUS TO THE HEADMASTER. THE HEADMASTER IS REQUIRED TO LIVE ON CAMPUS AS PART OF HIS DUTIES FOR THE SCHOOL. NO TAXABLE COMPENSATION IS IMPUTED FOR THE USE OF THE HOUSE. SOCIAL CLUB DUES: THE SCHOOL PAYS COUNTRY CLUB DUES FOR THE HEADMASTER. THE HEADMASTER USES THE CLUB FOR BUSINESS PURPOSES, AND NO TAXABLE INCOME IS IMPUTED FOR THIS BENEFIT. PERSONAL SERVICES: MAID SERVICE IS PROVIDED TO THE HEADMASTER FOR THE SCHOOL-OWNED HOUSE IN WHICH HE RESIDES. NO TAXABLE INCOME IS IMPUTED FOR THIS BENEFIT. WRITTEN POLICY FOR PAYMENT OR REIMBURSEENT - PART I, LINE 1B: WHILE THE SCHOOL DOES NOT HAVE A FORMAL WRITTEN POLICY FOR THE BENEFITS PROVIDED TO THE HEADMASTER, THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES DETERMINED THE COMPENSATION AND BENEFITS PACKAGE. THE INDIVIDUALS ON THIS COMMITTEE ARE INDEPENDENT OF THE HEADMASTER. A CUYAHOGA COUNTY ECONOMIC REVENUE BONDS 340714720 2010-12-31 17000000 EDUCATIONAL FACILITIES 0 0 0 B CUYAHOGA COUNTY ECONOMIC REVENUE BONDS 340714720 2012-11-01 15000000 EDUCATIONAL FACILITIES 0 0 0 A 17000000 127000 16873000 2012 1 0 1 1 B 14920114 15000000 79886 2012 1 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 1 0 0 1 1 JP MORGAN CHASE 16.000000000000 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 0 B 0 X 4 176584 FMV 0 0 1 PART I, LINE 32B: USE OF THIRD PARTIES - THE SCHOOL USES A SECURITIES BROKER TO SELL CERTAIN DONATED SECURITIES. THE FEES CHARGED BY THE BROKER ARE AT OR BELOW FAIR MARKET VALUE. FORM 990, PART VI, SECTION A, LINE 2 FAMILY RELATIONSHIPS - JAMES GRISWOLD AND JOHN GRISWOLD HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 REVIEW OF FORM 990 - THE BOARD OF TRUSTEES HAS DELEGATED THE REVIEW OF FORM 990 TO THE FINANCE COMMITTEE. UPON COMPLETION OF THAT REVIEW, THE HIGHLIGHTS OF THE RETURN ARE REPORTED TO THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 PROVIDED TO GOVERNING BODY - THE SCHOOL HAS DISTRIBUTED FORM 990 TO THE FULL BOARD OF TRUSTEES WITH THE EXCEPTION OF DONOR INFORMATION ON SCHEDULE B. THE SCHOOL BELIEVES THAT DONOR INFORMATION IS CONFIDENTIAL. AS SUCH, WE ARE REQUIRED TO ANSWER "NO" TO THE QUESTION ON LINE 11A EVEN THOUGH A COPY OF FORM 990 (WITH REDACTED DONOR INFORMATION ON SCHEDULE B) WAS PROVIDED TO THE TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCEMENT OF CONFLICT POLICY - THE SCHOOL'S CONFLICT OF INTEREST POLICY IS MAILED ANNUALLY TO TRUSTEES AND DISTRIBUTED AT BOARD MEETINGS. WHEN A CONFLICT ARISES, THE INDIVIDUAL IS NOT PERMITTED TO VOTE OR PARTICIPATE IN THE DISCUSSION OF THE TRANSACTION. PERSONS THAT ARE INDEPENDENT OF THE INDIVIDUAL WITH THE CONFLICT MAKE THE DECISION ABOUT THE TRANSACTION. THE DELIBERATIONS AND DECISION ARE DOCUMENTED IN THE MINUTES OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW AND APPROVAL - THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWS AND APPROVES THE COMPENSATION FOR THE HEADMASTER AND FINANCE DIRECTOR ANNUALLY. THE FINANCE DIRECTOR REVIEWS THE COMPENSATION OF THE EXECUTIVE STAFF. PERIODICALLY, COMPARABLE COMPENSATION DATA FROM OTHER SIMILAR SCHOOLS IS REVIEWED AND THE DATA IS USED IN DETERMINING THE COMPENSATION OF THE EXECUTIVE STAFF. THE MEMBERS OF THE BOARD ARE INDEPENDENT OF THE EXECUTIVE STAFF AND OTHER EMPLOYEES OF THE SCHOOL. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS - THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. UNIVERSITY SCHOOL ALUMNI ASSOCIATION 20701 BRANTLEY ROAD SHAKER HEIGHTS OH 44122 346513026 ALUM RELATION OH 501(C)(3) LINE 11A, I UNIV SCHOOL 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 UNIVERSITY SCHOOL ALUMNI ASSOCIATION C 2503215 FMV