2017-02-14T14:26:42-06:00 2016-06-30 560574444 CHERRY BEKAERT LLP 1111 Metropolitan Ave Ste 1000 Charlotte NC 28204 990 2015-07-01 540528203 The Collegiate School COLL 8047407077 103 North Mooreland Road Richmond VA 23229 PHYLLIS PALMIERO VP OF FINANCE AND ADMINISTRATION 8047419799 2017-02-14 1 Janice A Ratica P00358837 7043771678 2015 2021-01-29 14:40:06Z PHYLLIS PALMIERO 103 North Mooreland Road Richmond VA 23229 62396687 0 X www.collegiate-va.org X 1915 VA TO CREATE A COMMUNITY OF LEARNERS COMMITTED TO A CHALLENGING AND SUPPORTIVE EDUCATIONAL EXPERIENCE THAT WILL FOSTER THE INTELLECTUAL, MORAL, EMOTIONAL, AND PHYSICAL DEVELOPMENT OF EACH STUDENT. 29 28 767 900 -10993 -26573 3489016 6267899 40259387 41702634 2629071 803228 9054 15299 46386528 48789060 3471215 3459699 0 0 26141105 26796647 0 0 1374516 19061520 19433377 48673840 49689723 -2287312 -900663 158814830 154918511 47829038 47511216 110985792 107407295 X TO CREATE A COMMUNITY OF LEARNERS COMMITTED TO A CHALLENGING AND SUPPORTIVE EDUCATIONAL EXPERIENCE THAT WILL FOSTER THE INTELLECTUAL, MORAL, EMOTIONAL, AND PHYSICAL DEVELOPMENT OF EACH STUDENT. 0 0 39496998 3422949 38559078 INSTRUCTIONAL - COLLEGIATE SCHOOL PROVIDED junior KINDERGARTEN THROUGH TWELFTH GRADE EDUCATION TO APPROXIMATELY 1,640 STUDENTS. THE FOLLOWING STATISTICS FOR THE GRADUATING CLASS of 2016 HIGHLIGHT THE QUALITY OF THE ACADEMIC AND ATHLETIC PROGRAMS THAT COLLEGIATE OFFERS. The class continued the school's tradition of strong academic acceptance rates, contributing to the 10-year average of two out of every three applications resulting in acceptances. These included a host of "most selective" colleges and universities such as UVA, Duke, Dartmouth, Harvard, Georgetown, Princeton, and Vanderbilt. The class of 2016 had 14 recruited athletes, 6 went on to compete at Division I schools, and 8 went on to compete at Division III schools. Collegiate School also hosted over 40 students from around the world during its 5th annual international emerging leaders conference in October, 2015. The conference is believed to be the only collaborative global youth conference of its kind among public and private schools nationwide. 2736231 36750 925409 Auxiliaries - The School operates, for the benefit and convenience of parents, students, and alumni, several auxiliary services including food service (cafeterias), a campus bookstore, after school care, and private music instruction, among others. 864093 853353 Public Service - The School offers a Summer Economics Institute, summer camps, and several youth sports and adult sports programs to the greater Richmond community. 219945 1420486 219945 1420486 43317267 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 1 1 0 0 0 1 1 0 0 0 1 0 0 0 1 183 0 767 1 0 0 0 0 0 1 1 0 0 0 1 0 X 29 28 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X PHYLLIS PALMIERO VP OF FINANCE AND ADMINISTRATION 8047419754 103 NORTH MOORELAND ROAD RICHMOND VA 23229 Richard L Bennett Jr Trustee 2.00 X 0 0 0 Michael G Bland Trustee 2.00 X 0 0 0 Mark A Christian Trustee 2.00 X 0 0 0 John G Davenport Trustee 2.00 X 0 0 0 Eucharia N Jackson Trustee 2.00 X 0 0 0 John W Martin Trustee 2.00 X 0 0 0 Malcolm S McDonald Trustee 2.00 X 0 0 0 Gaye C Montgomery Trustee 2.00 X 0 0 0 Frank F Mountcastle III Trustee 2.00 X 0 0 0 Jill B Mountcastle Trustee 2.00 X 0 0 0 Sheryl Robins Nolt Trustee 2.00 X 0 0 0 Joan Olmstead Oates Life Trustee 2.00 X 0 0 0 Judy Wagoner Pahren Trustee 2.00 X 0 0 0 Tracey A Ragsdale Trustee 2.00 X 0 0 0 Carter M Reid Trustee 2.00 X 0 0 0 CB Robertson III Life Trustee 2.00 X 0 0 0 Lisa E Roday Trustee 2.00 X 0 0 0 Marshall P Schutt Trustee 2.00 X 0 0 0 JOHN G STALLINGS TRUStee 2.00 X 0 0 0 L Mark Stepanian Trustee 2.00 X 0 0 0 Wallace Stettinius Life Trustee 2.00 X 0 0 0 Brude D Stoever Trustee 2.00 X 0 0 0 Alfred I Stratford III Trustee 2.00 X 0 0 0 Robert S Ukrop Life Trustee 2.00 X 0 0 0 Michelle P Wiltshire Trustee 2.00 X 0 0 0 John L Walker III Trustee 2.00 X 0 0 0 John D O'Neill Jr Chairman of the Board 2.00 X X 0 0 0 PAUL D KOONCE Vice Chairman of the Board 2.00 X X 0 0 0 Stephen Hickman President/Head of School 40.00 X X 428238 0 59862 stephen hickman Deferred compensation payment 40.00 X X 94500 0 0 Phyllis Palmiero VP-Finance, Treasurer 40.00 X 240006 0 53139 Susan C Wiley Secretary 40.00 X 74139 0 26741 AMANDA L SURGNER VP-Advancement 40.00 X 191256 0 43537 Charles L Blair JR Head of Middle School 40.00 X 151567 0 37174 Karen Doxey Director-Athletics 40.00 X 125105 0 24473 Andrew Stanley Associate Director - Athletics 40.00 X 125961 0 55613 Jamie Britto Highly Compensated Employee 40.00 X 124260 0 41819 Scott Carson Highly Compensated Employee 40.00 X 123065 0 35251 1678097 0 377609 9 0 1 0 ALADDIN FOOD MANAGEMENT INC 21 ARMORY DR WHEELING WV 26003 FOOD SERVICE 1035646 TYMOFF & MOSS ARCHITECTS PC 512 BOTETOURT ST NORFOLK VA 23510 DESIGN SERVICES 349083 DAIKIN APPLIED 13600 MINNEAPOLIS PARK BLVD MINNEAPOLIS MN 55441 MECHANICAL SERVICES 138905 3 296292 18000 5953607 295640 6267899 TUITION & FEES 900099 37162209 37162209 FOOD SERVICE 900099 1396869 1396869 SUMMER PROGRAMS 900099 853353 853353 CHILD CARE 900099 647301 647301 PRIVATE MUSIC LESSONS 900099 278108 278108 1364794 1348322 16472 41702634 848149 -94977 943126 94620 37949 56671 56671 56671 12705154 12430148 319927 275006 -319927 -44921 67512 -112433 372190 296292 423381 -51191 -51191 14236 127 14109 14109 319641 396095 -76454 -76454 OTHER REVENUE 900099 72164 72164 72164 48789060 41758326 -10993 773828 3459699 3459699 1287723 1148141 139582 18215423 16284108 1354994 576321 1407167 1246768 109445 50954 4544050 4011654 369440 162956 1342284 1196508 104251 41525 46261 1919 44342 67753 67753 792020 792020 2203891 1553913 605378 44600 2261906 1741245 281189 239472 969476 790386 174512 4578 7392 7392 296029 230960 43723 21346 169571 141930 14065 13576 1377374 1333973 39441 3960 5746058 5574693 133347 38018 180263 2539 177724 PLANT ALLOCATION 4473014 4336649 106112 30253 FIELD TRIP EXPENSE 445964 445964 DUES & SUBSCRIPTIONS 118876 83701 29992 5183 FASB 158 ADJUSTMENT 18617 18617 258912 81246 175474 2192 49689723 43317267 4997940 1374516 13861591 4074361 5457676 7063203 14874978 15885815 219540 258621 250000 240209 140186 97789 721438 641851 122142149 56694469 66264197 65447680 13807084 30169661 36442818 28873253 6775322 2166068 158814830 154918511 3899169 4201508 2763436 2775636 36276046 35047792 950000 4890387 4536280 47829038 47511216 X 64955508 68590652 24850932 17265526 21179352 21551117 110985792 107407295 158814830 154918511 X -900663 -2972831 294997 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 58933927 1807537 -3040206 772 4033949 53666537 58455537 1793534 2574550 401571 3488123 58933927 50569343 2815028 8846845 369020 3406659 58455537 45533300 2987827 5499922 314873 3136833 50569343 39495501 7942213 802052 342186 2364280 45533300 0.34390 0.39480 0.26130 0 0 877900 3697128 4575028 77821299 30745991 47075308 11743405 9422926 2320479 28002417 16525552 11476865 65447680 FUND OF FUNDS 28873253 F 28873253 ACCRUED POST RETIREMENT MEDICAL 3960200 annUITIES PAYABLE 204492 ACCRUED INTEREST PAYABLE 277655 FAS 143 LIABILITY 93933 4536280 X 42229377 -2972831 -3164702 -6137533 48366910 792020 -369870 422150 48789060 45656124 665508 665508 44990616 792020 3907087 4699107 49689723 Part V, Line 4: THE COLLEGIATE SCHOOL'S ENDOWMENT (THE ENDOWMENT) CONSISTS OF 160 INDIVIDUAL ENDOWMENTS, OF WHICH 65% ARE TRUE ENDOWMENTS and 35% ARE RESTRICTED AND BOARD-DESIGNATED QUASI-ENDOWMENTS. OF THE TRUE ENDOWMENTS, 60% REPRESENTS FUNDS RESTRICTED FOR FACULTY AND PROGRAM DEVELOPMENT, 31% REPRESENTS FUNDS RESTRICTED FOR FINANCIAL AID, AND 9% ARE RESTRICTED FOR ECONOMIC EDUCATION. IT IS THE SCHOOL'S INTENTION THAT THESE FUNDS ARE TO BE USED TO SUPPORT THESE SPECIFIC PURPOSES IN PERPETUITY AND SPENDING IS LIMITED TO THE ANNUAL BOARD-APPROVED SPEND RATE OF 4%. IN ADDITION, THE SCHOOL'S ENDOWMENT CONTAINS AN UNRESTRICTED QUASI-ENDOWMENT FUND THAT ACCOUNTS FOR 33% OF THE TOTAL ENDOWMENT MARKET VALUE AT JUNE 30, 2016. THE QUASI-ENDOWMENT IS AVAILABLE TO BE USED AT THE DISCRETION OF THE BOARD, INCLUDING, AND WITHOUT LIMITATION, TO PAY CAPITAL IMPROVEMENT PROJECT COSTS AND DEBT SERVICE (BOTH CURRENT AND FUTURE) PAYMENTS. Part X, Line 2: The School is exempt from federal income tax and applicable state statutes under the provisions of Section 510(c)(3) of the Internal Revenue Code ("IRC"). In accordance with IRC regulations, the School is taxed on unrelated business income, which consists of earnings from activities not related to the exempt purpose of the School. The School accounts for tax uncertainties based on a more likely than not recognition threshold whereby tax benefits are only recognized when the School believes that they have a greater than 50% likelihood of being sustained upon examination by taxing authorities. Management has evaluated all its tax positions and determined that the School had no uncertain tax positions as of June 30, 2016. PART V, LINE 1B: ENDOWMENT CONTRIBUTIONS ARE COMPOSED OF CONTRIBUTIONS AND TRANSFERS. ENDOWMENT CONTRIBUTIONS TOTALED $612,183 FOR THE FISCAL YEAR. ENDOWMENT TRANSFERS TOTALED $1,200,000. This amount WAS TRANSFERRED INTO THE UNRESTRICTED QUASI-ENDOWMENTS, FOR WHICH THE BOARD MAY USE AT ITS DISCRETION. THE BOARD HAS CURRENTLY EARMARKED THE FUNDS TO SUPPORT, AMONG OTHER USES, DEBT SERVICE ON ITS BONDS. PART XI, LINE 2D: OTHER INCLUDES FINANCIAL AID NETTED WITH TUITION REVENUE ON FINANCAL STATEMENTS OF ($3,459,699). PART XI, LINE 4B: OTHER INCLUDES NET AGENCY REVENUE OF $729,682, RENTAL EXPENSE OF ($37,949) AND COST OF GOODS SOLD OF ($396,095). PART XII, LINE 4B: OTHER INCLUDES NET AGENCY EXPENSES OF $881,431, RENTAL EXPENSES OF ($37,949) AND COST OF GOODS SOLD OF ($396,095). IT ALSO INCLUDES FINANCIAL AID NETTED WITH TUITION REVENUE ON THE FINANCIAL STATEMENT OF $3,459,700. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 Every print advertisement Collegiate School places in magazines, newspapers, program books, etc. includes the School's nondiscriminatory policy. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 PROGRAM SERVICES INTERNATIONAL STUDY 56336 East Asia and the Pacific - Australia, Brunei, Burma, Cambodia, 0 0 PROGRAM SERVICES INTERNATIONAL STUDY 24712 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 0 0 PROGRAM SERVICES INTERNATIONAL STUDY 121969 North America - Canada and Mexico, but but not the United States 0 0 PROGRAM SERVICES INTERNATIONAL STUDY 5552 Sub-Saharan Africa - Angola, Benin, Botswana, Burkina, Faso, 0 0 PROGRAM SERVICEs INTERNATIONAL STUDY 12731 Sub-Saharan Africa - Angola, Benin, Botswana, Burkina, Faso, 0 0 program services grants and assistance 7318 Middle East and North Africa 0 0 Program Services INTERNATIONAL STUDY 21265 0 0 0 0 0 0 249883 0 249883 1 0 0 0 0 0 AUCTION 411539 265157 146382 4500 20763 7375 252107 FAIR 134074 23039 111035 55563 13 122869 8096 114773 83073 668482 296292 372190 4500 20763 7375 390743 423381 -51191 1 NEED-BASED FINANCIAL AID 266 3459699 BOOK TUITION, FEES, Books, ETC. Part I, Line 2: ALTHOUGH THE SCHOOL DOES NOT PROVIDE GRANTS IN THE TRADITIONAL SENSE, the school does PROVIDE NEED-BASED FINANCIAL AID TO FAMILIES WHO QUALIFY. FAMILIES REQUESTING SCHOLARSHIPS MUST ANNUALLY SUBMIT A PARENTS' FINANCIAL STATEMENT TO THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSS) ALONG WITH SUPPORTING DOCUMENTS (E.G. TAX RETURNS, W-2S). THIS FORM REQUESTS INFORMATION SUCH AS INCOME, EXPENSES, ASSETS, LIABILITIES AND NUMBER OF CHILDREN IN THE FAMILY. THE SSS EVALUATES THE FAMILY'S FINANCIAL NEED AND DETERMINES AN EXPECTED FAMILY CONTRIBUTION. THE SSS REPORT IS RECEIVED BY THE SCHOOL AND REVIEWED BY THE FINANCIAL AID COMMITTEE. THE SCHOOL AWARDS SCHOLARSHIPS BASED ON NEED. THE SCHOOL APPLIES THE AWARDS TOWARD THE TUITION FOR THAT SCHOOL YEAR. X X 1 1 X X 0 0 0 0 0 0 0 0 0 Stephen Hickman President/Head of School 416365 0 0 0 11873 0 36550 0 23312 0 488100 0 0 0 stephen hickman Deferred compensation payment 94500 0 0 0 0 0 0 0 0 0 94500 0 0 0 Phyllis Palmiero VP-Finance, Treasurer 227012 0 0 0 12994 0 16713 0 36426 0 293145 0 0 0 AMANDA L SURGNER VP-Advancement 191217 0 0 0 39 0 19000 0 24537 0 234793 0 0 0 Charles L Blair JR Head of Middle School 140771 0 0 0 10796 0 15985 0 21189 0 188741 0 0 0 Andrew Stanley Associate Director - Athletics 116469 0 0 0 9492 0 10455 0 45158 0 181574 0 0 0 Jamie Britto Highly Compensated Employee 117317 0 0 0 6943 0 8614 0 33205 0 166079 0 0 0 Scott Carson Highly Compensated Employee 107718 0 0 0 15347 0 8421 0 26830 0 158316 0 0 0 Part I, Line 1a THE HEAD OF SCHOOL RECEIVES CERTAIN ADDITIONAL BENEFITS THAT ARE TYPICAL COMPONENTS OF AN EXECUTIVE LEVEL COMPENSATION PACKAGE AMONG INDEPENDENT SCHOOLS. THESE BENEFITS PRIMARILY INCLUDE A HOUSING ALLOWANCE AND AN AMOUNT THAT REPRESENTS ADDITIONAL RETIREMENT CONTRIBUTIONS WHICH ARE GROSSED UP TO PROVIDE FOR THE TAX LIABILITY ASSOCIATED WITH THEM. Nationally and locally, many Heads of Schools are provided a home on campus, when one exists. When one does not exist on campus, as is the case at Collegiate School, it is customary to provide a housing allowance to the Head of School because his home is used throughout the year for school related functions. Part I, Line 3 THE COMPENSATION COMMITTEE REVIEWS THE INDEX (INDEPENDENT DATA EXCHANGE) REPORT ON THE SALARIES AND TOTAL COMPENSATION FOR THE HEADS OF SCHOOLS. THE INDEX BENCHMARKING GROUP CONSISTS OF APPROXIMATELY 50 K-12 CO-EDUCATIONAL DAY SCHOOLS ACROSS THE NATION WITH SIMILAR MISSIONS TO COLLEGIATE SCHOOL. THE COMMITTEE ALSO REVIEWS ANY OTHER COMPARISONS THAT MAY BE AVAILABLE AT THAT TIME. A edA OF the County of Henrico 541197472 42605PCM5 2010-11-04 15988433 SEE BELOW 0 0 0 B EDA OF the County of Henrico 541197472 42605PDC6 2012-04-19 24183447 SEE BELOW 0 0 0 C edA OF the County of GOOCHLAND 541250286 NONEAVAIL 2012-04-27 848750 SEE BELOW 0 0 0 A 4195000 15988433 313345 15675088 1999 1 0 1 1 B 600000 24228100 433186 23794914 2013 0 0 1 1 C 485000 848750 848750 1998 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 1 0 0 0 0 1 B 0 0 1 1 0 0 0 0 1 C 0 0 1 1 0 0 0 0 1 A 1 B 1 C 1 Date Rebate Computation Performed Issuer Name: edA OF the County of Henrico Date the Rebate Computation was Performed: 03/14/2014 Issuer Name: EDA OF the County of Henrico Date the Rebate Computation was Performed: 03/27/2014 Issuer Name: edA OF the County of GOOCHLAND Date the Rebate Computation was Performed: 03/27/2014 Sch K, Part I, LIne A, Col (F) REFUND OUTSTANDING AMOUNT ON BOND ORIGINALLY ISSUED 12/30/1998 Sch K, Part II, Line 3, Column (B) The total proceeds of issue does not equal the issue price in Part I due to investment earnings on unspent bond proceeds. Sch K, Part I, Line B, Col (F) CAPITAL IMPROVEMENT PROJECTS SUCH AS BUILDINGS, EQUIPMENT, ROADS, PARKING AND SITE IMPROVEMENTS. Sch K, Part I, LIne A, Col (F) REFUND OUTSTANDING AMOUNT ON BOND ORIGINALLY ISSUED 12/30/1998 Stephen Hickman Head of School Purchase of a home; apr 2.5%, balance due June 2019 X 250000 240010 0 1 1 Phyllis Palmiero CFO Computer Advance X 1194 199 0 1 1 240209 36465 TUITION REMISSION (BASED ON SAME CRITERIA AS OTHER EMPLOYEES) TUITION ASSISTANCE Schedule L, Part II, Computer Advance Per the school's faculty/staff handbook, collegiate school offers, as an employee benefit to all eligible employees, a personal computer purchase program allowing employees an interest free loan of up to one year to purchase computers. loan payments are deducted from the employee's paycheck. this policy is designed to encourage faculty and staff to have access to technology both in school and at home. this benefit is widely used among all employees throughout the school and is in line with the school's mission to create a community of learners. at june 30, 2016 there were 14 participants in the computer advance program with outstanding balances totalling $6,684. only 1 such participant is listed in part VII and reported accordingly on Schedule L, Part II. X 177847 FAIR MARKET VALUE X 52 117793 MEAN VALUE 0 0 1 0 Form 990, Part VI, Section B, line 11 FORM 990 IS REVIEWED BY THE SCHOOL'S SENIOR MANAGEMENT AS WELL AS THE SCHOOL'S INDEPENDENT ACCOUNTING FIRM CHERRY BEKAERT LLP. TO PROTECT DONOR PRIVACY, THE SCHOOL DOES NOT PROVIDE SCHEDULE B TO THE BOARD OF TRUSTEES. HOWEVER, A FULL PUBLIC DISCLOSURE COPY OF THE FORM 990 IS PROVIDED TO THE BOARD FOR ITS REVIEW BEFORE IT IS FILED. Form 990, Part VI, Section B, line 12c EACH YEAR, ALL OFFICERS, TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST STATEMENT, NOTING ANY RELATIONSHIPS AND/OR CONFLICTS THEY HAVE WITH COLLEGIATE SCHOOL. BY SIGNING, THEY ACKNOWLEDGE THAT THEY HAVE RECEIVED A COPY OF THE SCHOOL'S CONFLICT OF INTEREST POLICY. THE STATEMENTS ARE KEPT ON FILE WITH BOTH THE BOARD SECRETARY AND THE BUSINESS OFFICE AND ARE REFERRED TO THROUGHOUT THE YEAR AS NEEDED. THE FOLLOWING IS AN EXCERPT FROM COLLEGIATE SCHOOL'S BOARD OF TRUSTEES CONFLICT OF INTEREST POLICY: "AN OFFICER, TRUSTEE OR STAFF MEMBER WHO HAS A CONFLICT OF INTEREST WILL NEITHER PARTICIPATE IN NOR EXERT HIS OR HER PERSONAL INFLUENCE WITH RESPECT TO THE MATTER OR BE PERMITTED TO HEAR THE BOARD'S OR COMMITTEE'S DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. IN THE EVENT THAT AN OFFICER, TRUSTEE, OR STAFF MEMBER DOES HAVE A CONFLICT OF INTEREST WITH RESPECT TO A MATTER, THEY WILL BE INELIGIBLE TO VOTE AND THIS WILL BE REFLECTED IN THE MINUTES." Form 990, Part VI, Section B, line 15 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, WHICH IS COMPRISED OF THE CURRENT AND PAST CHAIRS AND THE VICE-CHAIR, IS CHARGED WITH REVIEWING THE PERFORMANCE AND ESTABLISHING COMPENSATION LEVELS FOR THE HEAD OF SCHOOL. THE PROCESS BEGINS WITH A SET OF ANNUAL GOALS DEVELOPED BY THE HEAD OF SCHOOL AND THE FULL BOARD. TO BEGIN THE PERFORMANCE REVIEW DISCUSSION, THE COMMITTEE SOLICITS FEEDBACK FROM THE BOARD ON HOW WELL THOSE GOALS HAVE BEEN MET. IN ADDITION, THE COMMITTEE REVIEWS THE SELF-APPRAISAL PREPARED BY THE HEAD OF SCHOOL. AS PART OF ITS COMPENSATION CONSIDERATIONS, THE COMMITTEE REVIEWS THE INDEX (INDEPENDENT DATA EXCHANGE) REPORT ON THE SALARIES AND TOTAL COMPENSATION FOR THE HEADS OF SCHOOLS. THE INDEX BENCHMARKING GROUP CONSISTS OF APPROXIMATELY 50 K-12 CO-EDUCATIONAL DAY SCHOOLS ACROSS THE NATION WITH SIMILAR MISSIONS TO COLLEGIATE SCHOOL. THE COMMITTEE ALSO REVIEWS ANY OTHER COMPARISONS THAT MAY BE AVAILABLE AT THAT TIME. THE COMMITTEE'S PROCESS AND DECISIONS ARE COMMUNICATED TO THE VICE PRESIDENT OF FINANCE AND HUMAN RESOURCES MANAGER AND ARE DOCUMENTED IN THE FORM OF A MEMORANDUM TO THE FILE. With respect to the compensation of other key employees, the school uses national benchmarking data from approximately 50 like independent schools, including compensation surveys. The salaries are determined based on this data, in addition to job duties and responsibilities, expertise, and the market for those skills and expertise. Form 990, Part VI, Section C, line 19 THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part XI, line 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 294,997. Powell Economic Education Foundation 103 North Mooreland Road RICHMOND VA 23229 208565566 SUPPORTING ORGANIZATION VA 501(c)(3) Line 11a, I N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0