2016-05-16T15:28:46-05:00 2015-06-30 WITHUM SMITH BROWN PC 5 VAUGHN DR STE 201 PRINCETON NJ 085406313 990 2014-07-01 210635004 THE PENNINGTON SCHOOL % MANAGEMENT PENN 6097371838 112 W DELAWARE AVE PENNINGTON NJ 08534 J GRAEME MCWHIRTER CFO 6097376120 2016-05-16 true PAUL V GERGEL P00116563 6095201188 2014 2016-08-17 19:52:53Z WILLIAM HAWKEY 112 W DELAWARE AVE PENNINGTON NJ 08534 32484193 false X WWW.PENNINGTON.ORG X NOT-FOR-PROFIT 1838 NJ INDEPENDENT, COEDUCATIONAL SCHOOL SERVING DAY AND BOARDING STUDENTS IN GRADES 6-12. 28 27 252 130 -5736 -5736 5226336 3274227 18707201 19602391 2933235 4279310 337743 218603 27204515 27374531 3621055 3779145 0 0 10611995 10693456 0 0 893956 7059806 7511995 21292856 21984596 5911659 5389935 67213880 74509154 13457153 18995736 53756727 55513418 INDEPENDENT, COEDUCATIONAL SCHOOL SERVING DAY AND BOARDING STUDENTS IN GRADES 6-12. false false 17442007 3779145 19664614 COEDUCATIONAL DAY/BOARDING SCHOOL SERVICING GRADES 6 THROUGH 12. 17442007 true true false false false false false false false true true false false false true true true false true false true false true false true false false false true true true false false false false false false true true false true true false false false false false false false false true 49 0 true 252 true true true false false false false false false false false false false false false X 28 27 false false false false false true true true true false false true true true true true true true true false X X MANAGEMENT 6097371838 112 W DELAWARE AVE PENNINGTON NJ 08534 X WILLIAM HAWKEY HEAD OF SCHOOL 40.0 0.0 X X 223724 0 121621 ROBERT BECKETT TRUSTEE 1.0 0.0 X 0 0 0 JOHN CELENTANO TRUSTEE 1.0 0.0 X 0 0 0 VERNON H HAMMOND II TRUSTEE 1.0 0.0 X 0 0 0 A LOUIS DENTON ESQ TRUSTEE 1.0 0.0 X 0 0 0 CYNTHIA HILLAS TRUSTEE 1.0 0.0 X 0 0 0 JAMES HYMAN TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL JINGOLI TRUSTEE 1.0 0.0 X 0 0 0 DENNIS KEATING TRUSTEE 1.0 0.0 X 0 0 0 JOHN KUHLTHAU TRUSTEE 1.0 0.0 X 0 0 0 REV DONALD MEDLEY TRUSTEE 1.0 0.0 X 0 0 0 REV DAVID MERTZ TRUSTEE 1.0 0.0 X 0 0 0 BISHOP SCHOL TRUSTEE 1.0 0.0 X 0 0 0 STEVEN M SILBERMAN TRUSTEE 1.0 0.0 X 0 0 0 JORDAN GRAY TRUSTEE 1.0 0.0 X 0 0 0 PETER J TUCCI ESQ TRUSTEE 1.0 0.0 X 0 0 0 ROBERT M WIGOD TRUSTEE 1.0 0.0 X 0 0 0 REV ROBERT WILLIAMS TRUSTEE 1.0 0.0 X 0 0 0 TARA KINSEY TRUSTEE 1.0 0.0 X 0 0 0 DAVID PARAGAMIAN TRUSTEE 1.0 0.0 X 0 0 0 TIMOTHY VILE TRUSTEE 1.0 0.0 X 0 0 0 STEPHEN TAN TRUSTEE 1.0 0.0 X 0 0 0 VARLYNA WRIGHT TRUSTEE 1.0 0.0 X 0 0 0 JOHN BIDDISCOMBE TRUSTEE 1.0 0.0 X 0 0 0 DAVID LONG TRUSTEE 1.0 0.0 X 0 0 0 GREG MATTHEWS TRUSTEE 1.0 0.0 X 0 0 0 BILL OLDSEY TRUSTEE 1.0 0.0 X 0 0 0 LORI PLIMPTON TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM BELFIORE TRUSTEE- THRU 1/1/15 1.0 0.0 X 0 0 0 J GRAEME MCWHIRTER CHIEF FINANCIAL OFFICER 40.0 0.0 X 169818 0 67067 TODD PAIGE HEAD OF MIDDLE SCHOOL 40.0 0.0 X 106900 0 54415 TOM LIWOSZ FACULTY MEMBER 40.0 0.0 X 97515 0 36579 JOANNAH PROCKOP DIRECTOR OF LEARNING CENTER 40.0 0.0 X 102636 0 11601 SCOTT PEELER DEAN OF ACADEMIC AFFAIRS 40.0 0.0 X 85359 0 51658 CHARLIE BROWN DIRECTOR OF DEVELOPMENT 40.0 0.0 X 157764 0 26420 943716 0 369361 8 false true false SODEXO INC AFFILIATES 9801 WASHINGTON BLVD GAITHERSBURG MD 20878 DINING SERVICES 1252758 DEL VALLEY PROPERTIES 379 ROUTE 31 NORTH HOPEWELL NJ 08551 CONSTRUCTION 1254423 ATLANTIC LINING CO INC 2206 SAYLORS POND RD JOBSTOWN NJ 08041 CONTRACTOR 470973 ADAMS-BICKEL ASSOCIATES LLC 341 N 10TH AVENUE SUITE 206 ROYERSFORD PA 194683807 CONSTRUCTION 6093705 JOSEPH JINGOLI AND SON INC 312 COOPER STREET CAMDEN NJ 08102 CONSTRUCTION MGMT 362783 20 3274227 227414 3274227 TUITION & FEES 19602391 19602391 19602391 686205 686205 0 0 341416 228233 113183 0 113183 24577 88606 8278033 4490937 193991 3787096 -193991 3593105 89110 40052 49058 0 180901 156449 24452 OTHER 62223 62223 YEARBOOK ADVERTISING 541800 9160 9160 SUMMER SCHOOL 900099 -39473 -39473 31910 27374531 19664614 -5736 774811 X 0 3552770 3552770 226375 226375 0 1647870 1205086 358069 84715 0 7092319 5220516 1504813 366990 490495 358699 106581 25215 855952 635743 175518 44691 606820 443767 131857 31196 0 49679 49679 60236 60236 0 0 149808 149808 33346 33346 0 75049 75049 0 77147 56418 20729 0 900992 658895 195778 46319 0 0 33877 33877 173765 127074 46691 0 2225827 1627746 483654 114427 176161 176161 DEVELOPMENT OFFICE 176697 0 0 176697 ADMISSIONS 55808 55808 0 0 HEALTH CENTER 12256 12256 0 HEAD MASTER OFFICE 263621 192786 70835 3047726 2824684 219336 3706 21984596 17442007 3648633 893956 X 0 0 5862283 5212542 4896673 5029341 69900 141360 0 0 0 0 0 0 50602 75736 682756 764917 44664488 15087008 21789923 29577480 33801881 33502395 0 0 0 0 0 0 59862 205383 67213880 74509154 2592386 3464189 0 0 3459472 4285306 6620000 10513507 0 0 0 0 425903 412363 0 0 359392 320371 13457153 18995736 X 30591938 32060850 13283014 13007838 9881775 10444730 53756727 55513418 67213880 74509154 X 5389935 -3573244 -60000 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 35819985 782183 749694 1344463 36007399 29872301 1754564 5117979 924859 35819985 26850921 242656 3439158 660434 29872301 27969644 123766 -623443 619046 26850921 22456980 221927 4657098 -633639 27969644 0.55950 0.15050 0.29000 false false 258677 258677 31601346 10736653 20864693 10978265 3668743 7129522 2006200 681612 1324588 29577480 0 LIABILTIY INTEREST RATE SWAP 117080 SWAP TERMINATION LIABILITY 189291 UBI TAX LIABILITY 14000 320371 X 20592950 -3573244 12637 -3241661 -6802268 27395218 173304 -193991 -20687 27374531 18836259 12637 791475 804112 18032147 173304 3779145 3952449 21984596 SCHEDULE D, PART X, LINE 2 THE SCHOOL HAS ADOPTED THE APPLICATION OF ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE SCHOOL HAD NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2015. IN ADDITION, THE SCHOOL HAS NO INCOME TAX RELATED PENALTIES OR INTEREST FOR THE PERIODS IN QUESTION. THE SCHOOL FILES A TAX RETURN IN THE U.S. FEDERAL JURISDICTION. THE SCHOOL HAS NO OPEN YEARS PRIOR TO JUNE 30, 2012. SCHEDULE D, PART XI, LINE 2D FINANCIAL AID GRANTS.............................. (3,779,145) COST OF GOODS SOLD................................ 156,449 RENTAL EXPENSES................................... 228,233 SUMMER SCHOOL EXPENSES............................ 112,750 SPECIAL EVENTS EXPENSES........................... 40,052 ------------------------------------------------------------------ TOTAL............................................. (3,241,661) SCHEDULE D, PART XI, LINE 4B LOSS ON DISPOSAL OF ASSET......................... (193,991) SCHEDULE D, PART XII, LINE 2D COST OF GOODS SOLD................................ 156,449 RENTAL EXPENSES................................... 228,233 SUMMER SCHOOL EXPENSES............................ 112,750 LOSS ON DISPOSAL OF ASSET......................... 193,991 SPECIAL EVENT EXPENSES............................ 40,052 BAD DEBT EXPENSE.................................. 60,000 ----------------------------------------------------------------- TOTAL............................................. 791,475 SCHEDULE D, PART XII, LINE 4B FINANCIAL AID..................................... 3,779,145 true true true true true true true false false false false false false false false false false true PART 1, LINE 3: NONDISCRIMINATORY POLICY NOTICE THE ORGANIZATION ADVERTISES THROUGH LOCAL NEWSPAPERS. East Asia and the Pacific Fundraising 29189 29189 29189 FINANCIAL AID OUTSIDE U.S. East Asia and the Pacific 1 25500 N/A FMV FINANCIAL AID OUTSIDE U.S. South America 1 66800 N/A FMV FINANCIAL AID OUTSIDE U.S. Europe (Including Iceland and Greenland) 2 134075 N/A FMV false false false false false false AUCTION 81760 81760 40052 MISC EVENTS 7350 7350 0 89110 89110 40052 40052 49058 true FINANCIAL AID 133 3552770 FMV FINANCIAL AID SEE EXPLANATION FOR PART I, LINE 2 THERE WERE 110 RECIPIENTS (106 U.S. PERSONS) OF FINANCIAL AID AND 23 RECIPIENTS OF TUITION REMISSION. TUITION REMISSION IS AWARDED ON A NEED BASIS AND COVER THE COST OF A DAY TUITION. FINANCIAL AID IS AWARDED ON A NEED BASIS USING INDUSTRY STANDARD FINANCIAL DISCLOSURES AND CALCULATIONS. X true true X X X X false true false false false false false false false WILLIAM HAWKEY HEAD OF SCHOOL 223417 0 307 0 0 0 0 0 121621 0 345345 0 0 0 J GRAEME MCWHIRTER CHIEF FINANCIAL OFFICER 169512 0 306 0 0 0 0 0 67067 0 236885 0 0 0 TODD PAIGE HEAD OF MIDDLE SCHOOL 106575 0 325 0 0 0 0 0 54415 0 161315 0 0 0 CHARLIE BROWN DIRECTOR OF DEVELOPMENT 157450 0 314 0 0 0 0 0 26420 0 184184 0 0 0 COMPENSATION QUESTIONS WILLIAM HAWKEY WAS PROVIDED A SUPPLEMENTAL PENSION IN 2014-2015. THE COST WAS $15,500. A NEW JERSEY ECONOMIC AUTHORITY 222045817 2014-06-17 6620000 RESTRUCTURING OF NJEDA BONDS false false false B PUBLIC FINANCE AUTHORITY 273866124 2014-07-07 10000000 school facilities revenue bond false false false A 0 0 6620000 0 0 0 0 0 0 0 0 0 false false true true B 0 0 9860698 0 0 0 139302 0 0 0 0 0 false false true true A false false false false 0.02440 0.02440 0.04880 false false false true B false false false false 0.00000 0.00000 0.00000 false false false true A false false false false true true CITIZENS BANK 5. false false true 0 false false false B false false false false true false 0 false 0 false false A true B true WILLIAM HAWKEY ASSOCIATE HEAD OF SCHOOL 32050 TUITION REMISSION TUITION REMISSION J GRAEME MCWHIRTER CHIEF FINANCIAL OFFICER 33300 TUITION REMISSION TUITION REMISSION MICHAEL JINGOLI TRUSTEE/INTEREST IN CO. 233000 CO. PROVIDED CONSTRUCTION MGMT false JAMES HYMAN TRUSTEE/OFFICER OF BANK 15300 INTEREST PAID TO BANK false X 17 227414 FAIR VALUE false true true part i, line 32b The school uses a Wells Fargo stock broker to sell noncash security contributions at market value. PART VI, SECTION B, line 12C THE SCHOOL REQUIRES ALL BOARD OF TRUSTEES, OFFICERS AND KEY EMPLOYEES TO SIGN ANNUAL CONFLICT OF INTEREST POLICIES. PART VI, SECTION B, line 15B THE HEAD OF SCHOOL HAS BEEN IDENTIFIED AS A KEY EMPLOYEE. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES MEETS TO DECIDE COMPENSATION. MEMBERS OF THE COMMITTEE ARE INDEPENDENT. A COMMITTEE MEMBER PREPARES COMPARABLE DATA FROM TAX RETURNS (USING GUIDESTAR) AND NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (COLLECTED BY CFO). THIS MATERIAL IS REVIEWED BY THE EXECUTIVE COMMITTEE. THE BOARD OF TRUSTESS RATIFIES COMMITTEE'S FINDINGS. PART VI, SECTION B, line 11 FORM 990 PREPARED BY INDEPENDENT ACCOUNTANTS, REVIEWED BY FINANCE COMMITTEE AND MADE AVAILABLE TO INDIVIDUAL TRUSTEES EITHER BY EMAIL OR AT A BOARD MEETING PRIOR TO FILING. PART VI, SECTION C, line 19 THE SCHOOL'S FORM 990 AND 990-T ARE AVAILABLE ON WWW.GUIDESTAR.ORG. NO OTHER DOCUMENTS ARE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 5 NET UNREALIZED GAINS ON INVESTMENTS FOR THE CURRENT FISCAL YEAR END INCLUDE THE FOLLOWING: UNREALIZED LOSS ON INVESTMENT......................... (3,556,101) UNREALIZED LOSS ON SWAP AGREEMENT..................... (17,143) -------------------------------------------------------------------- TOTAL UNREALIZED GAIN ON INVESTMENTS.................. (3,573,244) FORM 990, PART XI, LINE 6 THE ORGANIZATION RECEIVED THE FOLLOWING IN-KIND GIFTS IN THE CURRENT FISCAL YEAR: IN-KIND CONTRIBUTION REVENUE.......................... 12,637 IN-KIND EXPENSES...................................... (12,637) -------------------------------------------------------------------- TOTAL IN-KIND CONTRIBUTIONS RECEIVED.................. - 0 - FORM 990, PART xi, line 9 OTHER CHANGES IN NET ASSETS FOR THE CURRENT FISCAL YEAR END INCLUDE THE FOLLOWING: BAD DEBT EXPENSE............................... 60,000 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:ADMINISTRATIVE TOTAL EXPENSES:203670 PROGRAM SERVICES:MANAGEMENT AND GENERAL:203670 FUNDRAISING: FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:FOOD SERVICES TOTAL EXPENSES:1173300 PROGRAM SERVICES:1173300 MANAGEMENT AND GENERAL:FUNDRAISING: FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:ATHLETICS TOTAL EXPENSES:149802 PROGRAM SERVICES:149802 MANAGEMENT AND GENERAL:FUNDRAISING: FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:LIBRARY TOTAL EXPENSES:44549 PROGRAM SERVICES:44549 MANAGEMENT AND GENERAL:FUNDRAISING: FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:RESIDENTIAL LIFE TOTAL EXPENSES:71003 PROGRAM SERVICES:71003 MANAGEMENT AND GENERAL:FUNDRAISING: FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:INSTRUCTIONAL/OTHER TOTAL EXPENSES:616846 PROGRAM SERVICES:616846 MANAGEMENT AND GENERAL:FUNDRAISING: FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:EQUIPMENT RENTAL & MAINTENANCE TOTAL EXPENSES:716464 PROGRAM SERVICES:716464 MANAGEMENT AND GENERAL:FUNDRAISING: FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:PRINTING & PUBLICATION TOTAL EXPENSES:72092 PROGRAM SERVICES:52720 MANAGEMENT AND GENERAL:15666 FUNDRAISING:3706