2015-01-15T15:15:08-06:00 2014-06-30 541517420 WALL EINHORN & CHERNITZER PC 555 E MAIN ST SUITE 1600 NORFOLK VA 23510 990 2013-07-01 540806413 NORFOLK COLLEGIATE SCHOOL NORF 7575830919 7336 GRANBY STREET NORFOLK VA 23505 SCOTT KENNEDY PRESIDENT 7575830919 2015-01-14 1 SUSAN R EINHORN P00304274 7576254700 2015-01-14 2013 2016-02-25 16:41:14Z SCOTT KENNEDY 7336 GRANBY STREET NORFOLK VA 23505 13680875 0 X WWW.NORFOLKCOLLEGIATE.ORG X SCHOOL 1948 VA TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND. 37 36 153 80 0 0 755372 1063768 10567595 10512386 395060 511276 197638 128200 11915665 12215630 1145407 1162754 0 0 5983917 5945186 0 0 314404 5676389 5340586 12805713 12448526 -890048 -232896 32218004 31923528 12784870 12212671 19433134 19710857 TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND. 0 0 8900628 1162754 10512386 OPERATION OF A PRIVATE SCHOOL WITH AN APPROXIMATE ENROLLMENT OF 614 STUDENTS. 8900628 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 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 0 0 153 1 0 0 0 0 0 1 1 0 0 0 0 X 37 36 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X NORFOLK COLLEGIATE SCHOOL 7575830919 7336 GRANBY STREET NORFOLK VA 235053492 STANLEY G BARR JR HONORARY TRUSTEE 2.00 X 0 0 0 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 VICE PRESIDENT 2.00 X X 0 0 0 DAWN BRAY TRUSTEE 2.00 X 0 0 0 KATE BRODERICK 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 HENRY U HARRIS III HONORARY 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 CHRISTOPHER KANTER TRUSTEE 2.00 X 0 0 0 HON SUSAN H KELLEY 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 BETSY N MASON HONORARY 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 HARRISON J PERRINE TRUSTEE 2.00 X 0 0 0 RICHARD D ROBERTS HONORARY TRUSTEE 2.00 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 FREDERICK V MARTIN HONORARY TRUSTEE 2.00 X 0 0 0 WILLIAM W KING HONORARY TRUSTEE 2.00 X 0 0 0 SCOTT G KENNEDY PRESIDENT 60.00 X 188360 0 3190 188360 0 3190 1 0 1 0 SAGE DINING SERVICES INC 222 BOSLEY AVE TOWSON MD 21204 FOOD SERVICE 670000 TRANQUEST LLC 994 SCOTT STREET NORFOLK VA 23502 CHARTER BUS SERVICES 204000 DUKE SERVICES PO BOX 6027 WILLIAMSBURG VA 23188 CLEANING SERVICES 174000 CSC LEASING 6806 PARAGAN PLACE RICHMOND VA 23230 LEASING OF ASSETS 156000 GUARDUS SECURITY 3795 BONNEY ROAD VIRGINIA BEACH VA 23452 SECURITY SERVICE 132000 5 69819 170000 823949 256826 1063768 TUITION 611710 10029435 10029435 AUXILIARY SERVICES 611710 366550 366550 STUDENT ACTIVITIES 611710 116401 116401 10512386 155354 155354 53902 355 53547 53547 53547 1624683 1268761 355922 355922 355922 255222 69819 196129 59093 59093 CHARITABLE REMAINDER TRUST 525920 15560 15560 15560 12215630 10512386 0 639476 1162754 1162754 221174 206000 15174 4976162 3255726 1525597 194839 332835 332835 415015 294661 107904 12450 25216 25216 835263 640247 195016 116723 116723 102083 80520 21563 322319 306196 16123 6317 5651 666 268921 268921 875407 875407 66155 63196 2959 DINING SERVICES 571971 571971 FACULTY SCHOLARSHIPS 569339 569339 ATHLETIC DEPARTMENT 338856 338856 SUMMER PROGRAMS 155353 155353 1086663 680820 299394 106449 12448526 8900628 3233494 314404 8567 94426 1405925 700434 2995628 2783671 1558409 1409676 84782 24007 45705 31068 30331975 10263639 20325981 20068336 5198671 6174675 594336 637235 32218004 31923528 822486 358780 2910299 3134153 5318553 7934505 3618852 677233 114680 108000 12784870 12212671 X 15906973 14369231 726900 2327266 2799261 3014360 19433134 19710857 32218004 31923528 X -232896 367084 140945 2590 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3519458 264087 414764 13059 4185250 3653261 21791 161893 317487 3519458 3525477 58463 69321 3653261 3102377 4996 418104 3525477 2845630 61505 195242 3102377 0.00560 0.72020 0.27420 0 0 2935042 2935042 24402802 7476738 16926064 2994131 2786901 207230 20068336 DEFERRED COMPENSATION 108000 108000 X 11619034 367084 199074 566158 11052876 1162754 1162754 12215630 11482256 196484 196484 11285772 1162754 1162754 12448526 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. THE SCHOOL'S FEDERAL RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) FOR THE YEARS ENDED PRIOR TO JUNE 30, 2011 IS GENERALLY NOT SUBJECT TO EXAMINATION BY THE IRS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 196,129. GAIN ON DERIVATIVE INSTRUMENTS 6,680. CHANGE IN INTEREST IN NET ASSETS OF RECIPIENT ORGANIZATION -4,090. RENTAL EXPENSES 355. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,162,754. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 196,129. RENTAL EXPENSES 355. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,162,754. 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 159147 20017 139130 16944 FALL FAIR 38551 14550 24001 24092 4 127343 35252 92091 155093 325041 69819 255222 196129 196129 59093 1 NEED BASED FINANCIAL AID FOR TUITION 219 1162754 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 188360 0 0 0 0 0 0 0 3190 0 191550 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 A 148095 3990750 52313 3938437 0 0 1 1 B 49365 1330250 52312 1277938 0 0 1 1 C 105035 2916000 58320 2857680 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 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 A 0 B 0 X 28 252226 FAIR MARKET VALUE X MISCELLANEOUS 7 4600 FAIR MARKET VALUE 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: GAIN ON DERIVATIVE INSTRUMENTS 6,680. CHANGE IN INTEREST IN NET ASSETS OF RECIPIENT ORGANIZATION -4,090. FORM 990, PART XII, LINE 2C: 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) 509(A) 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 170000 CASH