2017-01-25T12:58:24-06:00 2016-06-30 560574444 CHERRY BEKAERT LLP 410 First Street SW Roanoke VA 24011 990 2015-07-01 540699572 North Cross School NORT 5409896641 4254 Colonial Ave SW Roanoke VA 24018 KAREN M LIST ASSOCIATE HEAD OF SCHOOL 5409896641 2017-01-09 1 Richard Hedley P00936170 5403426911 2015 2021-01-29 14:40:06Z KAREN M LIST 4254 Colonial Ave SW Roanoke VA 24018 9580399 0 X WWW.NORTHCROSS.ORG X 1944 VA A NON-SECTARIAN, INDEPENDENT, CO-EDUCATIONAL COLLEGE PREPATORY DAY SCHOOL, SERVICING GRADES PRE-KINDERGARTEN THROUGH TWELVE. 21 21 269 30 341627 0 790239 902216 8082989 8480529 15711 0 151847 142561 9040786 9525306 1494882 1571025 0 0 4973166 5166282 0 0 327521 2782704 2870559 9250752 9607866 -209966 -82560 10953766 11128256 1704365 1971965 9249401 9156291 THE ORGANIZATION IS A NON-SECTARIAN, INDEPENDENT, CO-EDUCATIONAL COLLEGE PREPATORY DAY SCHOOL SERVING GRADES PRE-KINDERGARTEN THROUGH TWELVE. 0 0 8063232 1571025 8138902 INSTRUCTIONAL - FUNDS USED TO PROVIDE COMPREHENSIVE EDUCATIONAL PROGRAMS TO 493 STUDENTS IN GRADES PRE-KINDERGARTEN THROUGH TWELFTH. AUXILIARY SERVICES, AND THE CARTER ATHLETIC CENTER FOR THE SCHOOL AND THE PUBLIC. 8063232 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 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 56 0 1 269 1 1 1 0 0 0 0 0 0 0 0 0 X 21 21 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X KAREN MLIST 5409896641 4254 colonial ave sw roanoke VA 24018 DAVID D H WILLIS TRUSTEE 1.00 X 0 0 0 WILLIAM AMOS TRUSTEE 1.00 X 0 0 0 JOHN P FISHWICK JR TRUSTEE 1.00 X 0 0 0 ROBERTO H ROBINSON TRUSTEE 1.00 X 0 0 0 GEORGE B CARTELEDGE III SECRETARY 1.00 X X 0 0 0 BRADLEY J BLUM TRUSTEE 1.00 X 0 0 0 SARAH BOXLEY BECK TRUSTEE 1.00 X 0 0 0 SARAH TUNE DOHERTY TRUSTEE 1.00 X 0 0 0 William Farrell TRUSTEE 1.00 X 0 0 0 ian mcdade TRUSTEE 1.00 X 0 0 0 GEORGE I VOGEL III TRUSTEE 1.00 X 0 0 0 ALLEN B WHITTLE TREASURER 1.00 X X 0 0 0 Janet Frantz TRUSTEE 1.00 X 0 0 0 LINDA D FRITH VICE PRESIDENT 1.00 X X 0 0 0 MARY LYNN WRIGHT TRUSTEE 1.00 X 0 0 0 TALFOURD H KEMPER JR TRUSTEE 1.00 X 0 0 0 Carolyn H'Doubler TRUSTEE 1.00 X 0 0 0 EDWARD M SMITH SR TRUSTEE 1.00 X 0 0 0 Pamela Moskal TRUSTEE 1.00 X 0 0 0 Susan K Still TRUSTEE 1.00 X 0 0 0 FRANK RUSSELL ELLETT PRESIDENT 1.00 X X 0 0 0 CHRISTIAN J PROCTOR hEADMASTER 40.00 X 148735 0 43961 KAREN LIST Associate Head 40.00 X 100121 0 9525 248856 0 53486 2 0 1 0 SOUTHERN CONCESSIONS 4254 COLONIAL DRIVE ROANOKE VA 24018 CAFETERIA CONTRACTOR 212888 1 902216 92094 902216 Tuition and Fees 611110 7108626 7108626 Auxillary Services 611110 355584 355584 Carter Athletic Center 713940 341627 341627 674692 674692 8480529 40414 18212 22202 22202 22202 157240 36881 120359 120359 9525306 8138902 341627 142561 1571025 1571025 284342 142171 142171 3872368 3521671 144642 206055 188353 171295 7035 10023 512866 314191 182301 16374 308353 217877 73607 16869 30158 30158 39537 39537 12941 12941 102399 102399 16985 16985 583052 583052 96092 96092 General and administrat 597662 597662 Instruction and Student 543646 543646 Carter Athletic Center 453619 453619 Auxiliary Services 251953 251953 142515 77256 65259 9607866 8063232 1217113 327521 36217 42997 270789 758949 32870 101541 116627 4147 0 20148 15508 46745 47301 21861318 12831697 9435733 9029621 1034660 1075621 3786 8762 10953766 11128256 433576 537571 344567 572455 858656 791805 67566 70134 1704365 1971965 X 8110025 7762175 304044 462319 835332 931797 9249401 9156291 10953766 11128256 -82560 -10550 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1029995 96465 -11915 43589 1070956 1023941 52086 -4873 41159 1029995 878636 7240 34019 -104046 1023941 824961 17240 36435 878636 818021 6940 824961 0.09940 0.86860 0.03200 0 0 387605 387605 16894839 8892589 8002250 2687497 2455791 231706 1891377 1483317 408060 9029621 MUTUAL FUNDS 460695 F Private Equity 131729 F Other Investments 2875 F MONEY MARKET FUND 97844 F BOND FUND 382478 F 1075621 Deposits Held For Others 70134 70134 X 7997459 -10550 53728 43178 7954281 1571025 1571025 9525306 8090569 55093 55093 8035476 1572390 1572390 9607866 Part V, Line 4: ENDOWMENT FUNDS ARE USED FOR SCHOLARSHIPS AND FACULTY ENRICHMENT. Part X, Line 2: Management has evaluated the effect of guidance provided by GAAP on Accounting for Uncertainty in Income Taxes. Management believes that the School continues to satisfy the requirements of a tax-exempt organization at June 30, 2016. Management has evaluated all other tax positions that could have a significant effect on the financial statements and determined the School had no uncertain income tax positions at June 30, 2016. Part XI, Line 2d - Other Adjustments: FUNDRAISING EXP. NET OF FINANCIAL STATEMENT REVENUE 36,881. REAL PROPERTY RENTAL EXPENSES NET OF RENTAL INCOME 18,212. INTEREST EXPENSE INCLUDED IN INCOME -1,365. Part XI, Line 4b - Other Adjustments: TUITION REMISSION EXPENSE SHOWN NET ON FINANCIALS 399,807. FINANCIAL AID EXPENSE SHOWN NET ON FINANCIALS 1,171,218. Part XII, Line 2d - Other Adjustments: FUNDRAISING EXP. NET OF FINANCIAL STATEMENT REVENUE 36,881. REAL PROPERTY RENTAL EXPENSES NET OF RENTAL INCOME 18,212. Part XII, Line 4b - Other Adjustments: TUITION REMISSION EXPENSE SHOWN NET ON FINANCIALS 399,807. FINANCIAL AID EXPENSE SHOWN NET ON FINANCIALS 1,171,218. Interest Expense Net on Financials 1,365. PART XI AND XII, LINE 2D AND 3B: FUNDRAISING EXPENSES ARE SHOWN NET OF EXPENSES AS AN EXPENSE ITEM ON THE FINANCIAL STATEMENTS. RENTAL EXPENSES ARE SHOWN ON THE FINANCIALS AS PART OF THE CARTER ATHLETIC CENTER EXPENSE ITEM. THE TUITION REMISSION AND FINANCIAL AID IS SHOWN NET OF REVENUE ON THE AUDITED FINANCIAL STATEMENTS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 THE POLICY IS DESCRIBED IN THE HANDBOOK AS WELL AS POSTED ON THE ORGANIZATION WEBSITE SEPARATELY. East Asia and the Pacific 0 0 EDUCATION TEACHING 75732 0 0 0 0 0 0 75732 0 75732 0 0 0 0 0 0 Part I, Line 2: NO GRANTS ARE MADE OUTSIDE THE US BIG FLEA 34035 34035 3335 WINTER GALA 123205 123205 10366 3787 19393 1 157240 157240 10366 3787 22728 36881 120359 1 TUITION REMISSION 53 399807 FINANCIAL AID 155 1171218 Part I, Line 2: The Tuition Remission figure is an employee benefit provided to employees for their own students that attend NCS. Financial Aid includes both need and merit based awards. Need based awards are given to families who demonstrate financial need; and merit based awards are given under certain conditions of maintaining a minimum level of performance, including GPA, good standing, etc. All students must meet admission requirements, including testing. X 1 1 X X 0 0 0 0 0 0 0 0 0 CHRISTIAN J PROCTOR hEADMASTER 148735 0 0 0 0 0 7500 0 36461 0 192696 0 0 0 Part I, Line 1a A RESIDENCE OWNED BY THE NORTH CROSS SCHOOL IS PROVIDED TO THE HEADMASTER AS PART OF THE COMPENSATION PACKAGE. THIS IS A CONDITION OF HIS EMPLOYMENT AND IT IS FOR THE CONVENIENCE OF THE EMPLOYER AND EMPLOYEE. X 10 70133 Stock Quote X 1 21961 COST 0 0 0 0 Part I, Column (b): THE NUMBER OF CONTRIBUTIONS ARE DETERMINED BY THE NUMBER OF DIFFERENT DONORS. Form 990, Part VI, Section A, line 2 SUSAN STILL AND GEORGE CARTLEDGE ARE ALSO ON THE BOARD OF HOMETOWN BANK. Form 990, Part VI, Section B, line 11 THE ASSISTANT HEAD OF SCHOOL FOR FINANCE & OPERATIONS, HEADMASTER, AND FINANCE COMMITTEE REVIEWS THE RETURN. ONCE THE AUDIT COMMITTEE APPROVES THE RETURN, THE REST OF THE BOARD REVIEWS IT PRIOR TO FILING. Form 990, Part VI, Section B, line 12c THE ASSISTANT HEAD OF SCHOOL FOR FINANCE & OPERATIONS IS AWARE OF ALL BUSINESS TRANSACTIONS AND MONITORS THEM CLOSELY FOR ANY CONFLICTS. THE CONFLICT OF INTEREST POLICY IS APPROVED BY THE BOARD. ANY ARISING CONFLICT IS HANDLED IN ACCORDANCE TO PROCEDURES OUTLINED IN THE CONFLICT OF INTEREST POLICY. Form 990, Part VI, Section B, line 15 THE HEADMASTER'S SALARY IS DETERMINED BY SALARY COMPARISONS FROM VAIS AND NAIS FOR NATIONAL AVERAGE COMPARISONS AND APPROVED BY THE BOARD. THE ASSISTANT HEAD OF SCHOOL FOR FINANCE & OPERATIONS AND HEADMASTER THEN START THE BUDGET PROCESS IN NOVEMBER. THEY START WITH SEVERAL SALARY INCREASE SCENARIOS AND DETERMINE WHICH OF THE PERCENTAGES THE ORGANIZATION CAN AFFORD. A MEETING IS HELD WITH THE FINANCE COMMITTEE FOR INITIAL REVIEW IN DECEMBER. CONTRACTS ARE SENT OUT WITH INCREASES IN FEBRUARY. NEW HIRE SALARIES ARE DETERMINED BY THE HEADMASTER. COMPARISONS ARE USED FROM VAIS AND NAIS FOR NATIONAL AVERAGE COMPARISONS. Form 990, Part VI, Section C, line 19 THE EMPLOYEE HANDBOOK, POSTED ON THE WEBSITE, DETAILS ALL POLICIES. FINANCIAL STATEMENTS ARE REVIEWED BY THE FINANCE COMMITTEE, THEN DISTRIBUTED TO THE BOARD. THE ORGANIZATION'S FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICIES, AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. Form 990, Part XII, Line 2c: The organization has not changed both the oversight or selection process for the tax year.