2017-10-17T10:29:10-05:00 2017-06-30 390859910 Baker Tilly Virchow Krause LLP 1650 Market Street Suite 4500 Philadelphia PA 191037341 990 2016-07-01 231352646 HAVERFORD SCHOOL HAVE 6106423020 450 LANCASTER AVENUE HAVERFORD PA 19041 david s gold CFO 6106423020 2017-10-16 1 julius green cpa P00350393 2159720701 174.59.42.130 2017-10-16 09:43:51 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 41D52B76DFE0CA0C5E5ED141E25DBC48D8427C36 2016 2021-01-29 14:40:06Z John Nagl 450 LANCASTER AVENUE HAVERFORD PA 19041 47213371 0 X www.haverford.org X 1916 PA A non-sectarian college prep school PRE-k-12, educates qualified boys of differing backgrounds. 30 28 332 40 285733 0 8460505 4798613 33274530 33745104 1458237 2392428 1609501 1573596 44802773 42509741 5213774 5870628 0 0 20285620 20654504 0 0 3524487 12336722 12838617 37836116 39363749 6966657 3145992 157743803 157684411 45758433 36976739 111985370 120707672 X The Haverford School, a non-sectarian college preparatory school for junior kindergarten through grade twelve, provides a superior liberal arts education for qualified boys of differing backgrounds. We are committed to developing the full intellectual, artistic, athletic and moral potential in each boy, and we aim to graduate young men with strong character who possess a passion for learning and problem solving. 0 0 31225201 5870628 33745104 Preparing young men academically for the future is undoubtedly one of the most valuable benefits of a Haverford education. But more importantly, we give boys a foundation of skills they need to lead a fulfilling and meaningful life. As our statement of vision reads, "the Haverford faculty prepares each boy to be future-ready through developing his character and his emotional intelligence, as well as his academic, artistic, and athletic talents."The Haverford School incurs DIRECT INSTRUCTIONAL EXPENSES IN PRE-KINDERGARTEN THROUGH GRADE 12, ATHLETIC PROGRAMS, AND OTHER EXTRA-CURRICULAR ACTIVITY EXPENSES FOR approximately 1,000 STUDENTS. 31225201 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 1 0 0 0 1 111 0 1 332 1 1 1 0 0 0 0 1 1 0 0 0 0 X 30 28 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA MA NJ X david s gold Chief Financial Officer 4844172722 450 LANCASTER AVENUE HAVERFORD PA 19041 Amy Petersen ViCe Chairman 0.50 X X 0 0 0 jennifer paradis trustee 0.50 X 0 0 0 h laddie montague trustee 0.50 X 0 0 0 michael s lewis trustee 0.50 X 0 0 0 Christopher J Maguire Trustee 0.50 X 0 0 0 John F Hollway Trustee 0.50 X 0 0 0 William T Harrington Trustee 0.50 X 0 0 0 Oray B Boston Trustee 0.50 X 0 0 0 ravindra reddy trustee 0.50 X 0 0 0 William Hambleton trustee 0.50 X 0 0 0 WILLIAM C YOH Chair 7.00 X X 0 0 0 Thomas L Williams Trustee 0.50 X 0 0 0 Sharon Merhige secretary 0.50 X X 0 0 0 Randall Drain Trustee 0.50 X 0 0 0 stephanie tellez trustee 0.50 X 0 0 0 Maurice D Glavin Trustee 0.50 X 0 0 0 John J Lynch III Trustee 0.50 X 0 0 0 John C Wilkins Jr Trustee 0.50 X 0 0 0 Barbara Klock Trustee 0.50 X 0 0 0 Jennifer N Pechet Trustee 0.50 X 0 0 0 Jeffery F Lee Trustee 0.50 X 0 0 0 Brant H Henderson Trustee 0.50 X 0 0 0 Caroline R De Marco Trustee 0.50 X 0 0 0 DAVID B FORD JR Treasurer 1.50 X X 0 0 0 Elizabeth McKee Anderson Trustee 0.50 X 0 0 0 George B Lemmon Trustee 0.50 X 0 0 0 George C McFarland Jr Trustee 0.50 X 0 0 0 Jason Ingle Trustee 0.50 X 0 0 0 Peter Rohr Trustee 0.50 X 0 0 0 John A Nagl Headmaster 40.00 X X 551989 0 40507 Jeffery Day Dir. of Development 40.00 X 198912 0 63450 Ronald Duska Head of Lower School 40.00 X 171641 0 42502 James J Greytok Jr Head of Middle School 40.00 X 179840 0 21950 James Thorburn Assistant Headmaster 40.00 X 253718 0 30269 David Gold Chief Financial Officer 40.00 X 222089 0 29296 Brian McBride Associate Head for External AFFAIRS 40.00 X 187724 0 66862 Matthew Green Head of Upper School 40.00 X 189969 0 29541 John Nostrant Athletic Director 40.00 X 180986 0 78519 Rebecca Davis Dean of Faculty 40.00 X 114716 0 17514 Michele Todd Dir. Of Human Resources 40.00 X 114185 0 13611 Michael Murphy Assoc. Athl. Dir/Head FootBALL COACH 40.00 X 133739 0 26874 Samuel D Caldwell Sr. Assoc. Dir., Dev. Gift PLANNING 40.00 X 140666 0 20152 George Wood Senior Director of Major GIFTS 40.00 X 133094 0 15533 2773268 0 496580 22 0 1 0 Sodexo USA PO Box 360170 Pittsburgh PA 15261 Food/Facilities Mgt 3100532 Allied Universal Security Services po box 828854 philadelphia PA 19182 Security Personnel 311917 Goshen Mechanical Contractors Inc 640 Snyder Avenue Unit A West Chester PA 19382 HVAC contRact work 181579 3 28475 180000 4590138 491511 4798613 Tuition & Fees 611710 33020164 33020164 Day Care Program 611710 438321 438321 Music Lessons 611710 149995 149995 Enrichment Program 611710 136624 136624 33745104 1343526 1343526 182889 189290 -6401 -6401 -6401 5532365 4482963 500 1049402 -500 1048902 1048902 36934 28475 30877 6057 6057 Cafeteria 611710 1056552 63208 993344 SUMMER DAY CAMP 611710 222525 222525 CAFE SALES 611710 115900 115900 178963 178963 1573940 42509741 33745104 285733 3680291 5870628 5870628 2568196 1183665 858406 526125 12569495 10430710 1017601 1121184 1155234 946588 110774 97872 3306488 2637855 405628 263005 1055091 820317 127636 107138 88563 88563 48485 48485 348164 348164 2027412 1987169 39870 373 263514 263514 1954207 1608894 277641 67672 217872 217872 2055990 1221711 449480 384799 226853 177969 48884 62440 35239 16195 11006 3506622 2684741 442801 379080 256524 167142 48156 41226 Instructional Expenses 911772 801242 110530 Athletic Department 363948 363948 Dues & Subscriptions 147695 69263 58081 20351 Communication 132802 132802 225754 248 166050 59456 39363749 31225201 4614061 3524487 X 7703 16956 9677605 8447884 5904019 5234632 41630 16624 432263 459473 115323560 43912212 73421932 71411348 43645572 47574925 23943633 23941745 107478 561968 580824 157743803 157684411 2311786 1953777 5991960 4897524 32925000 26952734 4529687 3172704 45758433 36976739 X 86647464 92860746 2129103 3232677 23208803 24614249 111985370 120707672 157743803 157684411 X 3145992 4107176 1469134 X 0 1 X 1 0 X 3982727 3699821 6670221 8442787 4798613 27594169 3982727 3699821 6670221 8442787 4798613 27594169 856126 26738043 2047376 1965254 1680731 1503949 1526415 8723725 3965 5226 9191 1135747 1129053 1193379 1345101 1288205 6091485 42418570 164232293 0.63030 0.63410 X Schedule A, Part II, Line 10, Explanation of Other Income: Cafeteria - 2012 Amount: $ 943,384. 2013 Amount: $ 935,102. 2014 Amount: $ 969,234. 2015 Amount: $ 1,021,747. 2016 Amount: $ 993,344. Other - 2012 Amount: $ 5,193. 2013 Amount: $ 380. 2014 Amount: $ 401. 2015 Amount: $ 16,957. 2016 Amount: $ 4,953. Athletics - 2012 Amount: $ 18,015. 2013 Amount: $ 16,745. 2014 Amount: $ 21,300. 2015 Amount: $ 100,775. 2016 Amount: $ 88,669. Theater Productions - 2012 Amount: $ 14,416. 2013 Amount: $ 14,054. 2014 Amount: $ 15,032. 2015 Amount: $ 13,680. 2016 Amount: $ 13,292. Cafe Sales - 2012 Amount: $ 95,529. 2013 Amount: $ 118,783. 2014 Amount: $ 154,401. 2015 Amount: $ 123,422. 2016 Amount: $ 115,900. Hall of Fame Dinner - 2012 Amount: $ 12,115. 2013 Amount: $ 11,995. 2015 Amount: $ 18,048. Yearbook Sales - 2012 Amount: $ 15,044. 2013 Amount: $ 3,051. 2014 Amount: $ 1,657. 2015 Amount: $ 1,631. 2016 Amount: $ 2,779. School Store - 2013 Amount: $ 9,713. 2014 Amount: $ 12,304. 2015 Amount: $ 4,291. 2016 Amount: $ 1,537. Sodexo Subsidy - 2012 Amount: $ 19,020. 2013 Amount: $ 19,230. 2014 Amount: $ 19,050. 2015 Amount: $ 19,050. 2016 Amount: $ 19,050. School Picture Commission - 2012 Amount: $ 13,031. 2016 Amount: $ 4,044. Hudson Farm Shoot - 2015 Amount: $ 25,500. 2016 Amount: $ 44,637. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 67547651 6092005 2122986 71516670 68448481 2133149 -3033979 67547651 63721085 5783939 -1056543 68448481 52802312 3199399 7772075 52701 63721085 45547640 2198407 5056265 52802312 0.62500 0.33700 0.03800 0 0 521496 521496 100486452 38806034 61680418 13222215 5106178 8116037 1093397 1093397 71411348 ALTERNATIVE INVESTMENTS 23941745 F 23941745 Accrued PostRetirement Health Costs 297003 Interest Rate Swap Agreements 2875701 3172704 X 42087426 4107176 -4749658 -642482 42729908 -220167 -220167 42509741 33365124 220167 220167 33144957 6218792 6218792 39363749 Part V, Line 4: THE ENDOWMENT FUND Supports the mission of the school through scholarships, program support, and faculty support. Part X, Line 2: The School has evaluated its tax positions as of June 30, 2017. A tax position is recognized as a benefit only if it is "more-likely-than-not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that has a likelihood of being realized on examination of more than 50%. For tax positions not meeting the "more-likely-than-not" test, no tax benefit is recorded. Under the "more-likely-than-not" threshold guidelines, Management believes no significant uncertain tax positions exist, either individually or in the aggregate, that would give rise to the recognition of an income tax liability. As of June 30, 2017, in the opinion of Management, the School has no material unrecognized income tax liabilities or accrued interest and penalties. The School's federal Return of Organization Exempt from Income Tax (Form 990) for the years ended June 30, 2016, 2015, and 2014 are subject to examination by the Internal revenue Service, generally for three years after the date the return was filed. Part XI, Line 2d - Other Adjustments: LOSS ON INTEREST RATE SWAP 1,469,134. GRANTS TO INDIVIDUALS -5,870,628. Investment Fees -348,164. Part XI, Line 4b - Other Adjustments: Fundraising Expenses -30,877. Rental Expenses -189,290. Part XII, Line 2d - Other Adjustments: Fundraising Expenses 30,877. Rental Expenses 189,290. Part XII, Line 4b - Other Adjustments: GRANTS TO INDIVIDUALS 5,870,628. Investment Fees 348,164. 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 Haverford School is a member of a local consortium called "ADVIS" that publishes a nondiscriminatory statement in newspapers. Schedule E, Part I, Line 6 the school receives books from the pennsylvania department of education. central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 investments 19562934 East Asia and the Pacific - Australia, Brunei, Burma, Cambodia, 0 0 PROGRAM SERVICES educational trips for students 95744 South Asia 0 0 program services educational trips for students 11872 Central America and the Caribbean 0 0 program services educational trips for students 50639 Europe (Including Iceland & Greenland) 0 0 program services educational trips for students 102014 0 0 0 0 0 0 19823203 0 19823203 0 0 0 1 1 0 GOLF OUTING 65409 28475 36934 29725 1152 65409 28475 36934 29725 1152 30877 6057 1 scholarships & financial Aid 329 5870628 Part I, Line 2: GRANT FUNDS ARE DETERMINED USING AN OUTSIDE SERVICE WHICH DETERMINES NEED FOR TUITION ASSISTANCE. THE FUNDS OR TUITION DISCOUNT IS THEN APPLIED AGAINST THE TUITION OBLIGATION AT THE SCHOOL. FAMILIES ARE ASKED TO NOTIFY THE SCHOOL IF THEIR FINANCIAL SITUATION CHANGES. X X 1 1 X X X X 0 0 0 0 0 0 0 1 0 John A Nagl Headmaster 435989 0 80000 0 36000 0 26500 0 14007 0 592496 0 0 0 Jeffery Day Dir. of Development 168912 0 0 0 30000 0 16891 0 46559 0 262362 0 0 0 Ronald Duska Head of Lower School 141641 0 0 0 30000 0 14164 0 28338 0 214143 0 0 0 James J Greytok Jr Head of Middle School 149840 0 0 0 30000 0 14984 0 6966 0 201790 0 0 0 James Thorburn Assistant Headmaster 206218 0 0 0 47500 0 20622 0 9647 0 283987 0 0 0 David Gold Chief Financial Officer 222089 0 0 0 0 0 22209 0 7087 0 251385 0 0 0 Brian McBride Associate Head for External AFFAIRS 187724 0 0 0 0 0 18772 0 48090 0 254586 0 0 0 Matthew Green Head of Upper School 159969 0 0 0 30000 0 15997 0 13544 0 219510 0 0 0 John Nostrant Athletic Director 139986 0 0 0 41000 0 13999 0 64520 0 259505 0 0 0 Michael Murphy Assoc. Athl. Dir/Head FootBALL COACH 133739 0 0 0 0 0 13374 0 13500 0 160613 0 0 0 Samuel D Caldwell Sr. Assoc. Dir., Dev. Gift PLANNING 140666 0 0 0 0 0 14067 0 6085 0 160818 0 0 0 Part I, Line 1a headmaster John Nagl receives a housing allowance that is included in his taxable wages. the fair market value of his housing allowance for 2016 was $36,000. THE FOLLOWING PERSONNEL ARE REQUIRED TO RESIDE ON CAMPUS AND THEIR HOUSING ALLOWANCES ARE LIKEWISE INCLUDED IN THEIR TAXABLE WAGES: james thorburn, john nostrant, ronald duska, james greytok, Jeffrey Day, and matthew green. James Thorburn and John Nostrant also receive tax gross-up payments related to their taxable housing allowances. Part I, Line 7 THE HEADMASTER RECEIVED A BONUS BASED ON GOALS AND CRITERIA DETERMINED BY THE BOARD ON A DISCRETIONARY BASIS. The criteria were not based on eithe rrevenue or net earnings. A Montgomery County Industrial Development Authority 232245125 NONEavail 2010-12-28 30000000 CURRENT REFUNDING T/E BOND ISSUE 6/02/08 TO FINANCE FACILITIES CONSTRUCTION 0 0 0 A 3000000 30000000 30000000 2010 1 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 0 0 0 1 A 1 Schedule K Supplental Information PART II, LINE 11, COLUMN B AND C: APPLIED TO REDEEM PRIOR BONDS ON THE DATE OF CLOSING SCHEDULE K, PART IV, LINE 2C NOTE THAT ALL FUNDS NOT IMMEDIATELY DISSEMINATED WERE PLACED INTO a REfunding escrow aCCOUNT WHOSE INTEREST RATE Was DELIBERATELY AND CLEARLY LOWER THAN THE RATE ON THE BOND ISSUE ITSELF. THE YIELD ON THE ESCROW WAS VERIFIED AT CLOSING TO BE BELOW THE BOND YIELD AND NO CHANGES HAVE BEEN MADE TO THE ESCROW INVESTMENTS OR BOND YIELD. THEREFORE, MANAGEMENT HAS DETERMINED THAT NO ADDITIONAL REBATE CALCULATION IS REQUIRED. 188900 DISCOUNTED TUITION EMPLOYEE FINANCIAL ASSISTANCE katherine thorburn katherine thorburn is the spouse of james thorburn, a key employee 113068 katherine thorburn is an employee as is her spouse, james thorburn. her salary and benefits are being reported. katherine does not report to James nor does James participate in salary discussions. 0 Sam Thorburn sam thorburn is the son of james thorburn, a key employee 50111 sam thorburn is an employee as is his dad, james thorburn. His salary and benefits are being reported. Sam does not report to James nor does James participate in salary discussions. 0 X 129865 purchase price X 15 361646 NYSE PRICE 0 0 1 0 Part I, Column (b): the numbers in column b represent the number of contributors. Form 990, Part VI, Section A, line 1 Sometimes the broader board will vote to give authority to the executive committee, composed of the chair, the vice chair, secretary, treasurer, three other members and the headmaster. The scope is on a case by case basis. Form 990, Part VI, Section B, line 11b The initial review is undertaken by the Chief Financial Officer. Once the CFO approves, the school will then circulate the return in its entirety to the full board for comments or questions before the return is transmitted to the IRS. Form 990, Part VI, Section B, line 12c Annually the Board of trustees is required to complete a questionnaire to highlight any conflicts. business and personal relationships are specifically mentioned in the policy as having potential for conflicts of interest. THE CHIEF FINANCIAL OFFICER REVIEWS THE FORMS ANNUALLY TO DETERMINE IF ANY CONFLICTS EXIST. IF A POTENTIAL CONFLICT ARISES, THE BOARD MEMBER, OFFICER, or key employee IN QUESTION RECUSES HIMSELF OR HERSELF FROM ANY VOTES OR DECISIONS RELATED TO THE CONFLICT. OFFICERS AND KEY EMPLOYEES ARE HELD RESPONSIBLE FOR ANY POTENTIAL CONFLICTS UNDER THE SCHOOL'S "CODE OF CONDUCT" POLICY. Form 990, Part VI, Section B, line 15 The Headmaster's compensation is determined by the chairman of the board of trustees and the executive committee. They engage an outside consultant (Hugh Mallon of Executive Compensation Concepts) for assistance in determining the Headmaster's contract. The consultant benchmarks/safe harbors against other headmasters in the industry to ensure the headmaster's compensation is within fair market range. In 2016, the headmaster's contract was extended through 2021. Changes such as the extension of the headmaster's EMPLOYMENT CONTRACT are DOCUMENTED IN THE BOARD MINUTES. the board of directors is informed on a historical basis OF THE HEADMASTER'S COMPENSATION. OTHER KEY EMPLOYEES' SALARIES ARE DETERMINED BY THE HEADMASTER, WHO BENCHMARKS SALARIES WITH OTHER SCHOOLS IN THE AREA ON AN ANNUAL BASIS AND REVIEWS THE SALARIES WITH THE BOARD CHAIR IN CHARGE OF THE FACULTY AND STAFF COMPENSATION COMMITTEE. Form 990, Part VI, Section C, line 19 The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request. Form 990, Part XI, line 9: LOSS ON INTEREST RATE SWAPS 1,469,134. HAVERFORD SCHOOL PARENTS' ASSOCIATION 450 LANCASTER AVENUE HAVERFORD PA 19041 236424688 FUNDRAISING PA 501(c)(3) Line 12b, II N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0