2016-11-18T16:08:57-06:00 2016-06-30 541517420 WALL EINHORN & CHERNITZER PC 150 W MAIN ST SUITE 1200 NORFOLK VA 23510 990 2015-07-01 540806413 NORFOLK COLLEGIATE SCHOOL NORF 7575830919 7336 GRANBY STREET NORFOLK VA 23505 SCOTT KENNEDY PRESIDENT 7575830919 2016-11-17 1 SUSAN R EINHORN P00304274 7576254700 2016-11-17 2015 2017-02-10 21:41:12Z SCOTT KENNEDY 7336 GRANBY STREET NORFOLK VA 23505 15444576 0 X WWW.NORFOLKCOLLEGIATE.ORG X 1948 VA TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND. 33 33 221 80 0 0 1994391 1919872 10344097 11371873 500146 -523088 259065 256378 13097699 13025035 1241165 1931329 0 0 6028062 6076712 0 0 231945 5390415 5608499 12659642 13616540 438057 -591505 31390243 32220580 12209247 13903387 19180996 18317193 TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND. 0 0 10670967 1931329 11371873 OPERATION OF A PRIVATE SCHOOL WITH AN APPROXIMATE ENROLLMENT OF 615 STUDENTS. 10670967 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 1 0 0 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 0 0 0 1 19 0 1 221 1 0 0 0 0 0 1 1 0 0 0 0 X 33 33 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X X NORFOLK COLLEGIATE SCHOOL 7575830919 7336 GRANBY STREET NORFOLK VA 235053492 MARK S BATZEL TRUSTEE 2.00 X 0 0 0 W TAYLOR FRANKLIN CHAIRMAN 2.00 X X 0 0 0 DR JOSEPH F BOUCHARD PHD VICE PRESIDENT 2.00 X X 0 0 0 DAWN BRAY TRUSTEE 2.00 X 0 0 0 CAROL H MOORE TRUSTEE 2.00 X 0 0 0 BENJAMIN G COTTRELL V TRUSTEE 2.00 X 0 0 0 JEFFREY S CREEKMORE TREASURER 2.00 X X 0 0 0 ROBERT H DEFORD III TRUSTEE 2.00 X 0 0 0 JAMISSON S FOWLER TRUSTEE 2.00 X 0 0 0 E JAI ESSENMACHER TRUSTEE 2.00 X 0 0 0 HON STEPHEN E HERETICK TRUSTEE 2.00 X 0 0 0 KEVIN M LARKIN TRUSTEE 2.00 X 0 0 0 SUNSHINE M LEINBACH TRUSTEE 2.00 X 0 0 0 THEODORE A MATHAS TRUSTEE 2.00 X 0 0 0 ROBERT W MCFARLAND SECRETARY 2.00 X X 0 0 0 DR SCOTT A ROBERTSON TRUSTEE 2.00 X 0 0 0 DR BARBARA M SARRIS TRUSTEE 2.00 X 0 0 0 DR CAMDEN WOOD SELIG TRUSTEE 2.00 X 0 0 0 JEFFREY M SILVERMAN TRUSTEE 2.00 X 0 0 0 BROOK J SMITH TRUSTEE 2.00 X 0 0 0 ELIZABETH S SMITH TRUSTEE 2.00 X 0 0 0 DR RONALD A STINE TRUSTEE 2.00 X 0 0 0 JEFFREY A SWARTZ TRUSTEE 2.00 X 0 0 0 JAMES T VAIL TRUSTEE 2.00 X 0 0 0 JOHN P WRIGHT TRUSTEE 2.00 X 0 0 0 SHEPELLE WATKINS-WHITE TRUSTEE 2.00 X 0 0 0 ELISE WALTHALL TRUSTEE 2.00 X 0 0 0 JOHN SAWYER TRUSTEE 2.00 X 0 0 0 CDR FRANK RHODES TRUSTEE 2.00 X 0 0 0 THOMAS E MATHAS TRUSTEE 2.00 X 0 0 0 JILL H LAYNE TRUSTEE 2.00 X 0 0 0 LARRY FLORA TRUSTEE 2.00 X 0 0 0 ALISON CARLSMITH TRUSTEE 2.00 X 0 0 0 SCOTT G KENNEDY PRESIDENT & HEADMASTER 60.00 X 205632 0 0 205632 0 0 1 0 1 0 SAGE DINING SERVICES INC 222 BOSLEY AVE TOWSON MD 21204 FOOD SERVICE 643503 CHRIS LACEY CLEANING SERVICES 752 OLD FIELDS ARCH CHESAPEAKE VA 23320 CLEANING SERVICES 173567 CSC LEASING 6806 PARAGAN PLACE RICHMOND VA 23230 LEASING OF ASSETS 158577 TRANQUEST LLC 994 SCOTT STREET NORFOLK VA 23502 CHARTER BUS SERVICES 135584 GUARDUS SECURITY 3795 BONNEY ROAD VIRGINIA BEACH VA 23452 SECURITY SERVICE 105257 5 72818 174416 1672638 166411 1919872 TUITION 611710 10921614 10921614 AUXILIARY SERVICES 611710 435677 435677 STUDENT ACTIVITIES 611710 14582 14582 11371873 125478 125478 81992 8554 73438 73438 73438 1610382 3864 1577355 685457 33027 -681593 -648566 -648566 294292 72818 148175 146117 146117 CHARITABLE REMAINDER TRUST 525920 36823 36823 36823 13025035 11371873 0 -266710 1931329 1931329 226010 200170 25840 5119190 3350914 1596426 171850 290524 208667 81857 440988 292755 135880 12353 37990 37990 766820 558927 167771 40122 107858 107858 106118 106118 308168 297722 10446 5458 3964 1494 309130 309130 986989 986989 76364 76364 SCHOLARSHIPS 646210 646210 DINING SERVICES 560223 560223 ATHLETIC DEPARTMENT 343296 343296 MISCELLANEOUS 166824 166824 1187051 908271 272654 6126 13616540 10670967 2713628 231945 27131 320199 740400 1316566 2435155 1863683 1386709 823348 30379 27812 33526 31566 31015036 9939042 19557995 21075994 6481180 6028207 697768 733205 31390243 32220580 210831 136286 3186618 2882121 8328723 10448252 483075 436728 12209247 13903387 X 13569122 13939029 2286142 1068033 3325732 3310131 19180996 18317193 31390243 32220580 X -591505 -190887 -81411 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4042951 11069 61434 -128145 3987309 4185250 471130 -211509 401920 4042951 3519458 264087 414764 13059 4185250 3653261 21791 161893 317487 3519458 3525477 58463 69321 3653261 0.83550 0.16450 0 0 2674688 2674688 26442666 8498166 17944500 1897682 1440876 456806 21075994 X 10978137 -190887 75318 -115569 11093706 1931329 1931329 13025035 11841940 156729 156729 11685211 1931329 1931329 13616540 PART V, LINE 4: ENDOWMENTS ARE MAINTAINED FOR VARIOUS REASONS SUCH AS STUDENT SCHOLARSHIPS, FINANCIAL ASSISTANCE, AND FACULTY SALARIES. THE SCHOOL'S ENDOWMENT CONSISTS OF APPROXIMATELY 12 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT INCLUDES DONOR-RESTRICTED ENDOWMENT FUNDS. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT ON NET INCOME DERVIED FROM UNRELATED BUSINESS ACTIVITIES. INTERNAL REVENUE CODE SECTION 513(A) DEFINES AN UNRELATED TRADE OR BUSINESS OF AN EXEMPT ORGANIZATION AS ANY TRADE OR BUSINESS WHICH IS NOT SUBSTANTIALLY RELATED TO THE EXERCISE OR PERFORMANCE OF ITS EXEMPT PURPOSE. CURRENTLY, THE SCHOOL HAS NO OBLIGATION FOR ANY UNRELATED BUSINESS INCOME TAX. THE SCHOOL BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS; HOWEVER, ANY PENALTIES AND INTEREST INCURRED AS A RESULT OF UNCERTAIN TAX POSITIONS WOULD BE RECORDED IN GENERAL AND ADMINISTRATIVE EXPENSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 148,175. CHANGE IN INTEREST IN NET ASSETS OF RECIPIENT ORGANIZATION -18,682. RENTAL EXPENSES 8,554. UNCOLLECTIBLE CONTRIBUTIONS -62,729. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,931,329. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 148,175. RENTAL EXPENSES 8,554. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,931,329. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 NEWSPAPER ADVERTISEMENT AUCTION 130540 22330 108210 6396 8693 FALL FAIR 35021 14325 20696 2913 9400 3 201549 36163 165386 2080 118693 367110 72818 294292 11389 136786 148175 146117 1 NEED BASED FINANCIAL AID FOR TUITION 187 1931329 PART I, LINE 2: THE SCHOOL HAS A FINANCIAL AID POLICY THAT IS USED TO MONITOR THE USE OF FINANCIAL AID. X X X X 0 0 0 0 0 0 0 0 0 SCOTT G KENNEDY PRESIDENT & HEADMASTER 205632 0 0 0 0 0 0 0 0 0 205632 0 0 0 A NORFOLK AIRPORT AUTHORITY 2012A 546001465 2012-06-27 3990750 BUILDINGS AND STRUCTURES 0 1 0 B NORFOLK AIRPORT AUTHORITY 2012B 546001465 2012-06-27 1330250 BUILDINGS AND STRUCTURES 0 1 0 C NORFOLK AIRPORT AUTHORITY 2013 546001465 2013-07-01 2916000 REFUNDING THE REFUNDED BOND AND PAYING ISSUANCE COSTS 0 1 0 D NORFOLK AIRPORT AUTHORITY 2015B 546001465 2015-04-30 592000 TO CONSTRUCT TWO ARTIFICIAL TURF ATHLETIC FIELDS AND INSTALL LIGHTING 0 1 0 A 467208 3990750 52313 3938437 0 0 1 1 B 155736 1330250 52312 1277938 0 0 1 1 C 342464 2916000 58320 2857680 0 0 1 1 D 24621 592000 592000 0 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 A 0 0 0 0 1 0 0 0 0 B 0 0 0 0 1 0 0 0 0 C 0 0 0 0 1 0 0 0 0 D 0 0 0 0 1 0 0 0 0 A 0 B 0 C 0 D 0 A NORFOLK AIRPORT AUTHORITY 2015A 546001465 2015-04-30 2700000 TO CONSTRUCT TWO ARTIFICIAL TURF ATHLETIC FIELDS AND INSTALL LIGHTING 0 1 0 A 90719 2700000 35000 2665000 0 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 0 0 0 0 A 0 X 8 132228 FAIR MARKET VALUE X VARIOUS 28 22183 FMV X TURF FEILDS 1 12000 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE SCHOOL HAD BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THERE IS A COMMITTEE OF TRUSTEES THAT OVERSEES BOARD MEMBERSHIP. THE NEEDS OF THE BOARD/SCHOOL ARE ALWAYS REVIEWED FOR ITEMS SUCH AS GEOGRAPHIC/WORK/GENDER/DIVERSITY. THIS COMMITTEE SOLICITS MEMBERS FROM WITHIN THE COMMUNITY (OTHER BOARD, STAFF). THE COMMITTEE REVIEWS THEIR ATTRIBUTES AS BEING A PART OF THE BOARD. THEY ARE ALSO INTERVIEWED BY THE BOARD CHAIR AND COMMITTEE ON TRUSTEE CHAIR PRIOR TO BEING PRESENTED TO BOARD FOR VOTING APPROVAL. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD NORMALLY WORKS THROUGH A COMMITTEE STRUCTURE WHICH INCLUDES ADVANCEMENT, BUILDING & GROUNDS, FINANCE, STUDENT LIFE, AND GOVERNANCE. INITIALLY MOST ITEMS ARE DISCUSSED AND BROUGHT TO THE COMMITTEE LEVEL FOR BACKGROUND, RESEARCH, AND REVIEW. AREAS THAT REQUIRE APPROVAL ARE VOTED ON BY COMMITTEE, TAKEN TO THE EXECUTIVE COMMITTEE FOR DISCUSSION/VOTE, AND THEN TAKEN TO THE FULL BOARD FOR DISCUSSION/VOTE. FORM 990, PART VI, SECTION B, LINE 11 THE 990 IS REVIEWED BY THE AUDIT COMMITTEE PRIOR TO ITS FILING. IT IS ALSO AVAILABLE TO THE BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, BOARD MEMBERS ARE REQUIRED TO SUBMIT CONFLICT OF INTEREST STATEMENTS (REFLECTING NONE OR STATED CONFLICTS) TO THE GOVERNANCE COMMITTEE CHAIR. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR ADMINISTRATIVE POSITIONS IS BENCHMARKED USING SEVEN CRITERIA FIELDS OF SALARY BY POSITION FROM NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL AND VIRGINIA ASSOCIATION OF INDEPENDENT SCHOOLS. FOR ADMINISTRATIVE POSITIONS, THE MEDIAN OF THAT DATA IS USED AS A BENCHMARK FOR SALARY DETERMINATION WITHIN THE BUDGET GUIDELINES AND OVERALL STAFF AND FACULTY COST OF LIVING GUIDELINES FOR EACH FISCAL YEAR. HEADMASTER COMPENSATION ALSO USED THE BENCHMARKING CRITERIA AND IS REVIEWED AND SET BY A COMPENSATION COMMITTEE OF BOARD MEMBERS. FORM 990, PART VI, SECTION C, LINE 19 NORFOLK COLLEGIATE SCHOOL PROVIDES AND REVIEWS GOVERNING DOCUMENTS AND ITS CONFLICT OF INTEREST POLICY WITH THE BOARD OF TRUSTEES MEMBERS ANNUALLY. THE ANNUAL FINANCIAL STATEMETNS ARE PRESENTED TO THE BOARD OF TRUSTEES AUDIT COMMITTEE, WHO SUBSEQUENTLY PRESENTS THE FINANCIALS TO THE FINANCE COMMITTEE AND THE EXECUTIVE BOARD OF THE TRUSTEES. THE ANNUAL FINANCIAL STATEMENTS ARE ALSO AVAILABLE FOR REVIEW BY ALL MEMBERS OF THE BOARD OF TRUSTEES UPON PRESENTATION TO THE AFOREMENTIONED COMMITTEES. ALL OF THESE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN INTEREST IN NET ASSETS OF RECIPIENT ORGANIZATION -18,682. UNCOLLECTIBLE CONTRIBUTIONS -62,729. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT. THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE YEAR. NORFOLK COLLEGIATE EDUCATIONAL FOUNDATION INC 7336 GRANBY STREET NORFOLK VA 23505 541893594 PROVIDE GRANTS TO NORFOLK COLLEGIATE SCHOOL FOR NEED-BASED FINANCIAL AID. VA 501(C)(3) LINE 11B, II N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 NORFOLK COLLEGIATE EDUCATIONAL FOUNDATION C 174416 CASH