2015-05-05T08:47:42-05:00 2014-06-30 581729751 Metcalf Davis CPAs 3340 Peachtree Road NE Suite 2600 Atlanta GA 303261089 990 2013-07-01 580706812 Pace Academy Inc PACE 4042621345 966 West Paces Ferry Road NW Atlanta GA 303272648 Frederick G Assaf Head of School 4042621345 2015-05-05 1 Arthur H Metcalf II P00279386 4042641700 2015-05-05 2013 2016-03-07 17:11:31Z Frederick G Assaf 966 West Paces Ferry Road NW Atlanta GA 303272648 50876068 0 X www.paceacademy.org X 1958 GA Pace Academy is a pre-first through 12th grade college preparatory independent school in Atlanta, Georgia. 23 23 409 1000 125152 69747 12222862 7633353 25430484 25988383 1637408 598789 152733 192936 39443487 34413461 1241414 1328369 0 0 16431432 16672358 0 0 783981 9510188 9420614 27183034 27421341 12260453 6992120 144411223 159524052 40173263 44179618 104237960 115344434 X Our mission is to create prepared, confident citizens of the world who honor the values and legacy of Pace Academy. 0 0 18822033 1328369 24306517 Instruction- Pace Academy was established in 1958 as an independent college preparatory coeducational day school. For the 2013-2014 school year Pace had an enrollment of 1,084 students in pre-first through 12th grades. The student teacher ratio was 9:1 with a class size on average of 15 students. Pace is recognized as a "Leading Edge School" by the National Association of Independent Schools. The faculty average years of experience is 16, with an average of nine years at Pace Academy. Eighty percent of Upper School faculty holds graduate degrees, while 16 percent hold doctorates. One hundred percent of seniors were enrolled in at least one advanced placement course, and the average SAT score of Pace students was 1300+. The graduating class of 2014 totaled 107 students who are attending 53 different colleges and universities in the United States and Europe. The class of 2014 included three National Merit Scholars and two National Achievement Scholars.During the year, Pace Academy continued construction of a new state of the art Upper School that will be available to teachers and students beginning in the 2014-2015 school year. 1095881 1144888 Summer Programs and Global Education - Pace Summer Programs offered multiple academic, sports and other specialty camps to Pace students and the Pace extended community. Summer Programs offered activities for all ages including Pace Camp, leadership camp, basketball and football camp, drivers education, cooking camp, art camp, chess camp, robotics camp and others. During 2013, approximately 1,000 students participated in Summer Programs, the largest of which, Pace Camp, had approximately 600 participants. Additionally, holiday camp occurs every year during the winter break and specialty programs were offered during the year including tutoring and chess.In 2013-2014 the Pace Adventures and Global Education program consisted of approximately 20 trips to countries throught the world, including the US, Europe, South America and the Middle East. The Global Education program was founded in 2009 to help accomplish Pace's mission to create prepared, confident citizens of the world. 2901743 526628 Student Activities - The Pace athletics program consistently produces championship teams and athletes, and 85 percent of Middle and Upper School students play on at least one team. Pace holds more than 55 state championships, including the 2013 girls cross country state championship, and graduates go on to play at the college and professional level. Additionally, during the year, the girls soccer team advanced to the state championship game for the ninth time. The Pace main campus and two satellite complexes include a state-of-the-art gymnasium, natatorium, indoor walking track, gymnastic and wrestling facility, basesball and softball fields, tennis courts, wellness center, athletic practice fields, multi-purpose fields for football, soccer and lacrosse, and a field house. Over 30 years the Pace debate program has grown into a nationally recognized program with a long-standing history of excellence, and students that advance to the national debate tournaments each year. During 2013, Pace won the National Debate Coaches Association National Championship. The Pace arts program offers a unique variety of performing and visual arts for students to particiapte in, and boasts a world class Fine Arts Center. Upper School students are required to complete service learning. During 2013, 9,000 hours of service were performed by Pace students last year. 22819657 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 0 0 0 1 0 1 0 0 0 1 1 0 0 0 1 100 0 1 409 1 1 1 0 0 0 0 1 1 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 GA X Jean W Held 4042621345 966 West Paces Ferry Road Atlanta GA 30327 Timothy J Walsh Chairman of Board 5.00 X 0 0 0 Robert Sheft Vice Chairman of the Board 1.00 X 0 0 0 Elizabeth Correll Richards Secretary of the Board 1.00 X 0 0 0 Thomas A Bethel Trustee 1.00 X 0 0 0 Dr Charles L Brown III Trustee 1.00 X 0 0 0 Bruce Carroll Trustee 1.00 X 0 0 0 Laurie Ann Goldman Trustee 1.00 X 0 0 0 Bonnie P Harris Trustee 1.00 X 0 0 0 James W Howard Jr Trustee 1.00 X 0 0 0 John S Inman Trustee 1.00 X 0 0 0 Alexander J Johnson Trustee 1.00 X 0 0 0 Gregory C Kelly Trustee 1.00 X 0 0 0 William M Lellyett Trustee 1.00 X 0 0 0 Mark E Luetters Trustee 1.00 X 0 0 0 Daron G Pair Trustee 1.00 X 0 0 0 Elizabeth A Price Trustee 1.00 X 0 0 0 Randall D Quintrell Trustee 1.00 X 0 0 0 Jeff Seabright Trustee 1.00 X 0 0 0 Rebecca S Shepherd Trustee 1.00 X 0 0 0 Jeffrey S Sloan Trustee 1.00 X 0 0 0 William D Smith Jr Trustee 1.00 X 0 0 0 Natasha Swann Trustee 1.00 X 0 0 0 William G Thurman Trustee 1.00 X 0 0 0 Frederick G Assaf Head of School 40.00 X 651160 0 97438 Jean Held Chief Financial Officer 40.00 X 137030 0 18080 Kristin Palmerton Athletic Director 40.00 X 131287 0 51840 Anna Valerius Head of Lower School 40.00 X 121114 0 15978 1040591 0 183336 12 0 1 0 New South Construction Company Inc PO Box 77616 Atlanta GA 30357 Construction contractor 13798668 Sage Dining Services Inc 1402 York Road Suite 100 Lutherville MD 21093 Food service 918284 TurnerBoone Contract 1320 Ellsworth Industrial Blvd Ste Atlanta GA 30318 Interior design services 519142 Mobile Modular Management Corp PO Box 45043 San Francisco CA 94145 Modular construction 498890 Total Janitorial Care Services 4467 Newport View Court Lilburn GA 30047 Janitorial services 304050 10 47345 804697 6781311 767030 7633353 Tuition and fees 611710 24306517 24306517 Summer Program 611710 1144888 1144888 Other 611710 275470 265120 10350 Parent organization 611710 261508 261508 25988383 926543 926543 114802 0 114802 114802 114802 15958652 16269050 17356 -310398 -17356 -327754 -327754 47044 47345 51692 -4648 -4648 207291 124509 82782 82782 34413461 25978033 125152 676923 1328369 1328369 1377256 232069 870135 275052 12070790 10792696 1058994 219100 729868 660833 56980 12055 1589738 1167465 395107 27166 904706 757088 115867 31751 32980 32980 40792 40792 79000 79000 38294 35049 3245 246408 41088 135958 69362 1926191 1711334 197034 17823 324198 274620 41323 8255 2956 2956 223507 218286 4967 254 145473 104292 32845 8336 67144 61829 5056 259 1973093 1816924 148573 7596 155417 14115 141302 Student Activities 1408110 1381585 26525 0 Transition and capital 881322 849376 0 31946 Dining 743582 729201 11064 3317 Library, textbooks, and 274417 274417 0 0 857730 404070 385196 68464 27421341 22819657 3817703 783981 20931461 17689053 8818114 5450255 15751890 11460868 3957139 4364956 36681 30616 1299422 1219753 91005003 20804912 52423620 70200091 16159759 21790500 24554545 26967502 478592 350458 144411223 159524052 2910498 6135724 14931468 15738059 22100000 22100000 50000 50000 181297 155835 40173263 44179618 X 75838097 85637582 23944115 23688633 4455748 6018219 104237960 115344434 144411223 159524052 X 6992120 4229354 -115000 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 64542033 1619221 4761922 22086174 79000 48758002 55275811 9478000 2183138 2321248 73668 64542033 45349816 10589712 286935 823652 127000 55275811 41234145 1055189 3459720 266302 132936 45349816 38323036 1636939 3606270 2332100 41234145 0.84250 0.12310 0.03440 0 0 8529315 8529315 51117473 16661321 34456152 5804883 1892054 3912829 2941870 2145830 796040 22611462 105707 22505755 70200091 Alternative investments 5205557 F Fixed income funds 21761945 F 26967502 Agency Accounts 155835 155835 X 36378196 4229354 -152129 4077225 32300971 79000 2033490 2112490 34413461 25271722 176201 176201 25095521 79000 2246820 2325820 27421341 Part V, Line 4: Endowments consists of approximately 29 donor-restricted endowment funds established for various purposes including scholarships and financial aid, faculty development and specific programs and activities of Pace. The endowment also includes Board designated endowment funds for various purposes such as long-term investment, PPRRSM and growth of the quasi-endowment. Part X, Line 2: Pace follows the guidance related to accounting for uncertainties in income taxes, which prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken. Management does not believe Pace has any significant tax uncertainties at June 30, 2014 and 2013. Pace's tax returns are subject to review and examination by federal and state authorities. Tax returns for the fiscal years ended June 30, 2011, 2012 and 2013 are open to examination by federal and state authorities, and in certain circumstances the statute of limitations may remain open indefinitely. Part XI, Line 2d - Other Adjustments: Interest rate swap -115,000. Expenses netted with gifts in kind -37,129. Part XI, Line 4b - Other Adjustments: Financial aid deducted from revenues on financial statements 1,328,369. Campus store cost of sales -124,509. Fund raising direct expenses -51,692. Transition and capital campaign costs 881,322. Rental expenses Part XII, Line 2d - Other Adjustments: Campus store cost of sales 124,509. Fund raising direct expenses 51,692. Rental expenses Part XII, Line 4b - Other Adjustments: Financial aid deducted from revenues on financial statements 1,328,369. Transition and capital campaign costs 881,322. Expenses netted with gifts in kind 37,129. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 Student applications and Student Handbook as well as employee communications contain information related to the School's nondiscriminatory policies. In addition, the policy is on the School's website and published in the local newspaper. Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium Program services Study abroad 137808 East Asia and the Pacific - Australia, Brunei, Burma, Cambodia, Program services Study abroad 68400 Sub-Saharan Africa Program services Study abroad 120037 0 0 0 0 0 0 326245 0 326245 0 0 0 0 0 0 Part I, line 3: Actual costs of providing travel and related costs. X X X X X Booster Bash 37970 16645 21325 11066 5608 10994 Pace Race 29465 18150 11315 3678 1762 444 170 1787 1 25554 11380 14174 4316 1750 6435 2979 92989 46175 46814 19060 3512 12487 170 15760 50989 -4175 1 Need based financial assistance aid to students as a reduction in tuition. 104 1328369 Amount of reduction in tuition amount. The non-cash financial aid is a reduction in tuition costs to the student determined on a need basis. X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 Frederick G Assaf Head of School 377000 0 25000 0 249160 0 24120 0 73318 0 748598 0 0 0 Jean Held Chief Financial Officer 131834 0 5000 0 196 0 11389 0 6691 0 155110 0 0 0 Kristin Palmerton Athletic Director 131091 0 0 0 196 0 9192 0 42648 0 183127 0 0 0 Part I, Line 1a Part I, line 1a, Tax indemnification and gross-up payments. The Head of School has income reported to him for the amount of tuition remission he receives along with the corresponding amount of related income tax. Part I, line 1a, Personal services. Cleaning services are provided for the Head of School's residence. Part I, line 1a. Housing. As a condition of employment and for the conveniences of the School, the Head of School is required to reside in campus housing. Based on the facts and circumstances of the requirments of his respective role and responsibilities, it is the opinion of the School that the housing costs is non-taxable to the Head of School. Section 119 of the Internal Revenue Code is reviewed annually to determine the applicability and compliance with this section. Part I, Line 3 The Compensation Committee (Board Chair, Board Vice-Chair, and Finance Committee Chairman) reviews salaries from other peer independent schools, reports from the National Association of Independent Schools, and other sources in developing compensation for the Head of School. Substantiation is contemporaneous and given by the Board Chair to the Human Resources Director to keep on file. Part I, Line 4b Head of School participates in a Section 457(b) plan. A Development Authority of Fulton County 581506878 359900UQ8 2008-04-01 27000000 Construction of campus and other related facilities. 0 1 0 A 27000000 387060 26648660 2008 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 A 0 Nancy Quintrell Spouse of Trustee Randy Quintrell 60923 Trustee's spouse is a faculty member in the Middle School. 0 X 63 644890 Avg high/low X Landscape and 3 55763 FMV X Electronics 4 28024 FMV X Student activ 7 24652 FMV X Furniture 1 10000 FMV X Various contr 15 4271 FMV 0 1 0 Part I, Line 32b: The School has gift acceptance and disposition policies in place that were implemented in May 2004. It includes a Committee charged with complying with the applicable laws and regulations. Acceptance authority for publicly traded securities, quid pro quo contributions, mutual fund shares, closely held securities, tangible personal property, real estate, and life insurance policies are specifically identified for special rules. Part I, Line 33: Immaterial and minor amounts of gifts or services or small items are not given any value for recognizing revenues. Form 990, Part VI, Section B, line 11 The Audit Commitee of the Board of Trustees reviews the Form 990 as a committee. Once it is approved, a full and complete Government copy is furnished to all Board of Trustee members for their review and approval prior to filing with the Internal Revenue Service. 990, Part VI, Governance, Management, Disclosure, Section C, Number 19 Governing documents can be accessed through the website for the Secretary of State of Georgia and are readily available. The School's conflict of interest policy and latest audited financial statements are available upon request during business hours from the Business Office with appropriate consideration for time to accumulate to meet such requests. Form 990, Part VI, Section B, line 12c The Board of Trustees requires that all members complete an annual statement regarding any conflict of interest as defined within the policy statement for conflict of interest. This pledge is to uphaold a duty of confidentiality and avoidance of any confict of interest. Form 990, Part VI, Section B, line 15 The Board of Trustees has a Compensation Committee that determines executive compensation. The Competition Committee reviews the salary information from other schools based on NAIS, JRPO and other surveys and benchmarks when considering the salaries of the Headmaster (CEO) and the CFO. The Board has final approval for all recommendations of the Compensation Committee. The Board Chair provides contemporaneous documentation to the HR Director which is kept on file. The Headmaster and HR Director review similar information when determining salaries for other key employees. Form 990, Part VI, Section C, line 18 The Form 990 is available for public inspection during business hours of the School. In addition, the form may be available on the website Guidestar.com. Form 990, Part VI, Section C, line 19 The information is availbale upon request and made available to the interested parties during business hours of the School during those days that the School is open to students. Form 990, Part XI, line 9: Interest rate swap -115,000. Form 990, Part XI, Line 2(c) The School has not changed its policy or procedure related to the audit function. Knights Riverview LLC 966 West Paces Ferry Rd Atlanta GA 30327 The primary activity is to assist in carrying out the mission of the School. GA Pace Academy Inc Pace Academy Parents' Club Inc 966 West Paces Ferry Road Atlanta GA 30327 582074448 Raising money to donate to Pace Academy, Inc. GA 501 (c)(3) Line 9 N/A 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 Pace Academy Parents' Club Inc C 804897 Sch B contribution Knights Riverview LLC K 2400 Lease