2025-02-03T09:32:23-06:00 2024-06-30 561750124 BATCHELOR TILLERY & ROBERTS LLP 3605 GLENWOOD AVENUE SUITE 350 RALEIGH NC 27612 990 2023-07-01 566001583 RAVENSCROFT SCHOOL RAVE 9198470900 7409 FALLS OF NEUSE ROAD RALEIGH NC 27615 DERRICK WILLARD HEAD OF SCHOOL 9198470900 2025-01-30 1 0 KEITH A WASSERMAN P00072834 9197878212 2023 2025-03-06 01:10:19Z DERRICK WILLARD 7409 FALLS OF NEUSE ROAD RALEIGH NC 27615 46950717 0 X WWW.RAVENSCROFT.ORG X 1951 NC OPERATION OF AN INDEPENDENT NONPROFIT SCHOOL THAT INCLUDES PRESCHOOL THROUGH GRADE TWELVE. 20 20 440 100 0 0 2501890 2093351 35116059 37228573 122134 1470793 197554 279561 37937637 41072278 3214586 3449152 0 0 20572414 21207070 0 0 1044614 14900626 15994109 38687626 40650331 -749989 421947 82526942 85553588 38170792 38970042 44356150 46583546 OPERATION OF AN INDEPENDENT NONPROFIT SCHOOL THAT INCLUDES PRESCHOOL THROUGH GRADE TWELVE. 0 0 26845439 3449152 37352961 ALL FACETS OF PRIMARY & SECONDARY EDUCATION INCLUDING AUXILIARY OPERATIONS, SUMMER PROGRAMS, SCHOLARSHIPS AND FINANCIAL ASSISTANCE. 26845439 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 0 0 0 1 132 0 1 440 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 20 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X X AMY BRIGHT 9198470900 7409 FALLS OF NEUSE ROAD RALEIGH NC 27615 DR LAURA HELTON KALORIN CHAIR 5.00 X X 0 0 0 DR KEVIN L KEIM VICE CHAIR 1.00 X X 0 0 0 MR MICHAEL ANTHONY NORONA TREASURER 1.00 X X 0 0 0 MR GEOFFREY KROUSE SECRETARY 1.00 X X 0 0 0 MS PENNY ABRAHAMS TRUSTEE 1.00 X 0 0 0 MS MARY GRADY BELL TRUSTEE 1.00 X 0 0 0 MRS DEMETRIS WHITE CHEATHAM TRUSTEE 1.00 X 0 0 0 MRS SARA GREGORY TRUSTEE 1.00 X 0 0 0 MR PABLO MARTINEZ TRUSTEE 1.00 X 0 0 0 DR SATISH MATHAN TRUSTEE 1.00 X 0 0 0 MR JASON MEGGS TRUSTEE 1.00 X 0 0 0 MR AMIR S MEHR TRUSTEE 1.00 X 0 0 0 DR JOHN MEIER TRUSTEE 1.00 X 0 0 0 MR JEFFREY D MILLER TRUSTEE 1.00 X 0 0 0 MR SHAWN MORRISON TRUSTEE 1.00 X 0 0 0 MRS ELLEN MANN O'CONNOR TRUSTEE 1.00 X 0 0 0 MRS V WATSON PUGH TRUSTEE 1.00 X 0 0 0 MRS MELISSE FRANCES SHABAN TRUSTEE 1.00 X 0 0 0 MRS LISA SILVERMAN TRUSTEE 1.00 X 0 0 0 MRS JENNIFER NIMS WINSTON TRUSTEE 1.00 X 0 0 0 DOREEN C KELLY HEAD OF SCHOOL 40.00 X 601417 0 117130 GREGORY S HODGES CFOO 40.00 X 239713 0 40948 JUSTIN BRANDON ASSOCIATE HEAD OF SCHOOL 40.00 X 202451 0 37919 EDWARD J GONET DIRECTOR OF ATHLETICS 40.00 X 204178 0 10619 AARON D SUNDSTROM HEAD OF UPPER SCHOOL 40.00 X 139419 0 46474 BEN REIN AHOS - INSTITUTIONAL ADVANCEMENT 40.00 X 132820 0 45237 LISA L HORTON AHOS - PEOPLE AND CULTURE 40.00 X 140847 0 28196 1660845 0 326523 16 0 1 0 FLIK INDEPENDENT SCHOOLS PO BOX 417632 BOSTON MA 022417632 FOOD SERVICES 1841707 THE BUDD GROUP INC PO BOX 890856 CHARLOTTE NC 282890856 CLEANING SERVICE 573590 BIRS INC PO BOX 36197 GREENSBORO NC 274166197 ROOFING CONTRACTOR 457247 CENTER FOR CREATIVE LEADERSHIP PO BOX 26300 GREENSBORO NC 274386300 CONSULTANT 411214 NEWCOMB AND COMPANY PO BOX 58010 RALEIGH NC 276588010 HVAC CONTRACTOR 374172 10 70587 2022764 282895 2093351 TUITION & FEES 611710 35279026 35279026 AUXILIARY OPERATIONS 611710 1903220 1903220 APPLICATION FEES 611710 46327 46327 37228573 940715 940715 158984 0 158984 158984 158984 6398833 5682814 185941 716019 -185941 530078 530078 5873 70587 9684 -3811 -3811 MISCELLANEOUS INCOME 611710 51913 51913 WITHDRAWAL FEES 611710 45025 45025 GRADUATION FEES 611710 27450 27450 124388 41072278 37352961 0 1625966 3449152 3449152 1013586 1013586 16240822 13205866 2556605 478351 902791 721249 155416 26126 1753408 1454113 246624 52671 1296463 1001536 258648 36279 95152 95152 68800 68800 113100 113100 2231911 3293 2186345 42273 320029 152004 142607 25418 778795 470077 270128 38590 788989 490908 298081 440792 322021 104074 14697 508953 508953 2822809 1984181 838628 388587 341956 34973 11658 MAINTENANCE EXPENSE 2696752 24506 2672246 FACULTY/STAFF DISCOUNTS 1378042 1378042 MATERIALS AND SUPPLIES 1024041 1024041 STAFF DEVELOPMENT 619718 469702 143556 6460 1717639 352792 1052756 312091 40650331 26845439 12760278 1044614 18903112 21213924 1871866 1455140 282532 204878 122462 89073 2689 2689 73193896 43572238 30962342 29621658 25606717 27712670 4775222 5253556 82526942 85553588 1949587 1793922 16077532 17358504 19115605 18612488 113987 91558 914081 1113570 38170792 38970042 X 21876125 22930341 22480025 23653205 44356150 46583546 82526942 85553588 X 421947 1487029 318420 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20623290 291579 2212230 213094 577403 22336602 18968352 425895 1986915 159170 598702 20623290 22304856 502192 -3118461 134644 585591 18968352 17670437 638630 4747458 116146 635523 22304856 17813031 365104 150874 284296 374276 17670437 0.63042 0.36958 1 0 1836908 1836908 59199796 35068607 24131189 7112355 5236770 1875585 5044837 3266861 1777976 29621658 INTEREST RATE SWAP ASSET 2896033 FINANCE LEASE RIGHT-OF-USE ASSETS 276164 OPERATING LEASE RIGHT-OF-USE ASSETS 786203 BENEFICIAL INTEREST IN CHARITABLE TRUSTS 784878 OTHER ASSETS 510278 5253556 FINANCE LEASE LIABILITIES 299669 OPERATING LEASE LIABILITIES 813901 1113570 39234607 1487029 51611 -3449152 -1910512 41145119 113100 -185941 -72841 41072278 37325631 51611 185941 237552 37088079 113100 3449152 3562252 40650331 PART V, LINE 4: THE INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS: ENDOWMENT FUNDS HELD BY THE SCHOOL ARE PRIMARILY USED FOR SCHOLARSHIPS, AND FACULTY AND STAFF PROFESSIONAL DEVELOPMENT AND AWARDS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE NETTED WITH TUITION REVENUE FOR FINANCIAL STATEMENTS -3,449,152. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF FIXED ASSETS INCLUDED IN FINANCIAL STATEMENT EXPENSES -185,941. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF FIXED ASSETS INCLUDED IN FINANCIAL STATEMENT EXPENSES 185,941. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE NETTED WITH TUITION REVENUE FOR FINANCIAL STATEMENTS 3,449,152. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 RAVENSCROFT SCHOOL STANDS BEHIND THE PRINCIPLE THAT THERE SHALL BE NO DISCRIMINATION AGAINST ANY PERSON IN ADMISSION, EMPLOYMENT, OR OTHERWISE BECAUSE OF RACE, COLOR, RELIGION, NATIONAL ORIGIN, DISABILITY, SEX OR AGE IN VIOLATION OF EXISTING STATE OR FEDERAL LAW AND REGULATIONS. ONLINE AUCTION 70587 70587 5063 BOOK FAIR 5873 5873 4621 76460 70587 5873 9684 9684 -3811 1 MERIT SCHOLARSHIPS 13 68790 FINANCIAL ASSISTANCE 223 3256632 SIBLING DISCOUNTS 249 123730 PART I, LINE 2 THE PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS IN THE UNITED STATES: RAVENSCROFT USES AN OUTSIDE SERVICE TO COLLECT AND PROCESS FINANCIAL AID APPLICANTS' FINANCIAL INFORMATION. THIS SERVICE IS PROVIDED BY FACTS. APPLICANTS SUBMIT THEIR FAMILY FINANCIAL INFORMATION TO FACTS FOR PROCESSING. A SUMMARY REPORT OF THE FAMILY FINANCIAL INFORMATION IS GENERATED AND SENT TO RAVENSCROFT SCHOOL. ONCE THIS REPORT IS RECEIVED THE FINANCIAL AID COMMITTEE REVIEWS THE REPORT AND MAKES AWARDS CONSIDERING THE INFORMATION PROVIDED IN THAT REPORT. APPLICANTS ARE REQUIRED TO PROVIDE SUPPORTING DOCUMENTATION OF THE INFORMATION PROVIDED ON THE FACTS APPLICATION. X 1 1 X X X 0 0 0 0 0 0 0 0 0 DOREEN C KELLY HEAD OF SCHOOL 507397 0 87114 0 6906 0 23100 0 94196 0 718713 0 0 0 GREGORY S HODGES CFOO 222507 0 400 0 16806 0 5905 0 35209 0 280827 0 0 0 JUSTIN BRANDON ASSOCIATE HEAD OF SCHOOL 196387 0 400 0 5664 0 13499 0 24585 0 240535 0 0 0 EDWARD J GONET DIRECTOR OF ATHLETICS 199933 0 400 0 3845 0 10619 0 166 0 214963 0 0 0 AARON D SUNDSTROM HEAD OF UPPER SCHOOL 138586 0 400 0 433 0 9491 0 37149 0 186059 0 0 0 BEN REIN AHOS - INSTITUTIONAL ADVANCEMENT 118319 0 10400 0 4101 0 9100 0 36287 0 178207 0 0 0 LISA L HORTON AHOS - PEOPLE AND CULTURE 139781 0 400 0 666 0 10404 0 17958 0 169209 0 0 0 PART II, COLUMN (D) NONTAXABLE BENEFITS: REFLECTS THE VALUE OF HOUSING THE HEAD OF SCHOOL RECEIVES FOR RESIDING AT THE HOUSE LOCATED ON THE SCHOOL CAMPUS. THE HEAD OF SCHOOL IS REQUIRED TO RESIDE ON CAMPUS IN ORDER TO BE AVAILABLE FOR EMERGENCIES AT ALL TIMES. A PUBLIC FINANCE AUTHORITY 273866124 2020-01-29 19500000 FINANCE CAPITAL IMPROVEMENTS & REFUND A PRIOR ISSUE 12/14/2010 0 0 0 A 517576 19500000 879118 358636 18262206 40 2021 1 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 0 1 1 TRUIST BANK 20.000000000000 0 0 0 0 1 A 0 SEAN KELLY SON OF HEAD OF SCHOOL 87570 SEAN KELLY IS THE SON OF DOREEN KELLY (HEAD OF SCHOOL) AND IS EMPLOYED IN THE ADMISSIONS OFFICE AS ASSISTANT DIRECTOR OF ENROLLMENT MANAGEMENT. 0 X 1 8026 FMV X 10 264629 STOCK QUOTE X CLUB MEMBERSHIP 1 10240 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS: THE FORM 990 DRAFT IS PROVIDED TO THE DIRECTOR OF FINANCE AND THE CHIEF FINANCIAL AND OPERATIONS OFFICER FOR THEIR REVIEW. ONCE THEIR REVIEW IS COMPLETED A REVISED DRAFT IS PROVIDED TO THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES FOR THEIR REVIEW. THE FORM 990 DRAFT WILL THEN BE PRESENTED TO THE FULL BOARD OF TRUSTEES FOR THEIR REVIEW. ONCE ALL QUESTIONS, COMMENTS AND CHANGES HAVE BEEN COMPLETED, THE HEAD OF SCHOOL WILL SIGN FORM 8879-TE, IRS E-FILE SIGNATURE AUTHORIZATION FOR A TAX EXEMPT ENTITY, AND THE RETURN WILL BE E-FILED. FORM 990, PART VI, SECTION B, LINE 12C MONITORING CONFLICTS OF INTEREST: BOARD TRUSTEES AND KEY EMPLOYEES ARE ASKED ANNUALLY TO DISCLOSE ANY BUSINESS RELATIONSHIPS THAT COULD RESULT IN A CONFLICT OF INTEREST WITH THEIR FIDUCIARY OBLIGATION TO THE SCHOOL. AN ANNUAL SURVEY IS SENT TO EACH TRUSTEE AND KEY EMPLOYEE TO MONITOR COMPLIANCE WITH THE SCHOOL'S CONFLICT OF INTEREST POLICY TO DETERMINE IF AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST EXISTS. WHEN THE SCHOOL BECOMES AWARE THAT A CONFLICT EXISTS, WHETHER POTENTIAL OR ACTUAL, ACTION IS TAKEN IMMEDIATELY TO CORRECT THE SITUATION. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS FOR DETERMINING COMPENSATION: - PERIODIC USE OF OUTSIDE CONSULTANT TO PROVIDE COMPENSATION DATA FOR HEADS OF SCHOOL TO EXECUTIVE COMMITTEE OF THE BOARD. - REVIEW OF DATA BY EXECUTIVE COMMITTEE OF THE BOARD. - INDIVIDUAL EVALUATION OF HEAD OF SCHOOL BY BOARD MEMBERS USING A FORMAL EVALUATION INSTRUMENT; HEAD OF SCHOOL SELF EVALUATION. - SUMMARIZATION OF INDIVIDUAL EVALUATIONS BY EXECUTIVE COMMITTEE OF THE BOARD. - DISCUSSION OF EVALUATION IN BOTH VERBAL AND WRITTEN FORM WITH THE HEAD OF SCHOOL AND THE EXECUTIVE COMMITTEE OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 MAKING DOCUMENTS AVAILABLE TO THE PUBLIC: THE TAX RETURN IS MADE AVAILABLE UPON REQUEST FROM THE RAVENSCROFT BUSINESS OFFICE. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 318,420. SCHEDULE E, QUESTION 5D ADDITIONAL FINANCIAL ASSISTANCE PROVIDED TO STUDENTS: RAVENSCROFT USES AN OUTSIDE SERVICE TO COLLECT AND PROCESS FINANCIAL AID APPLICANTS' FINANCIAL INFORMATION. THIS SERVICE IS PROVIDED BY FACTS ON A NONDISCRIMINATORY BASIS. APPLICANTS SUBMIT THEIR FAMILY FINANCIAL INFORMATION TO FACTS FOR PROCESSING. A SUMMARY REPORT OF THE FAMILY FINANCIAL INFORMATION IS GENERATED AND SENT TO RAVENSCROFT SCHOOL. ONCE THIS REPORT IS RECEIVED THE FINANCIAL AID COMMITTEE REVIEWS THE REPORT AND MAKES AWARDS CONSIDERING THE INFORMATION PROVIDED IN THAT REPORT. APPLICANTS ARE REQUIRED TO PROVIDE SUPPORTING DOCUMENTATION OF THE INFORMATION PROVIDED ON THE FACTS APPLICATION. IN ADDITION TO THE FINANCIAL ASSISTANCE AWARDED THROUGH THE ABOVE PROCESS, THE SCHOOL MAINTAINS TWENTY-ONE FINANCIAL AID ENDOWMENTS AS WELL AS FOUR SCHOLARSHIP ENDOWMENTS TO BENEFIT STUDENTS. SOME OF THESE ENDOWMENTS HAVE NO CRITERIA AND OTHERS ARE AWARDED BASED ON SPECIFIC CRITERIA SUCH AS THE STUDENT BEING ENROLLED IN AN ACADEMIC SKILLS PROGRAM, DISADVANTAGED WITH FINANCIAL NEED, A MEMBER OF A MINORITY CLASS, EXCEL IN FINE ARTS, AND OTHER SELECTED CRITERIA. THE ADDITIONAL ENDOWMENTS ARE INTENDED TO SUPPORT, PROMOTE AND ENHANCE THE OVERALL COMPOSITION OF THE SCHOOL'S ACADEMIC, MINORITY AND SOCIALLY DIVERSE COMMUNITY. RAVENSCROFT SCHOOL FOUNDATION INC 7409 FALLS OF THE NEUSE ROAD RALEIGH NC 27615 237035426 INVESTMENT NC 501(C)(3) 509(A)(3) N/A 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0