2015-02-12T16:02:55-06:00 2014-06-30 560574444 CHERRY BEKAERT LLP 410 FIRST STREET ROANOKE VA 24011 990 2013-07-01 540699572 NORTH CROSS SCHOOL NORT 5409896641 4254 COLONIAL AVE SW ROANOKE VA 24018 KAREN M LIST DIRECTOR OF FINANCE 5409896641 2015-02-11 1 LEAH K KELLER P00638719 5403426911 2013 2016-02-25 16:41:14Z KAREN M LIST 4254 COLONIAL AVE SW ROANOKE VA 24018 8346070 0 X WWW.NORTHCROSS.ORG X 1944 VA A NON-SECTARIAN, INDEPENDENT, CO-EDUCATIONAL COLLEGE PREPATORY DAY SCHOOL, SERVICING GRADES PRE-KINDERGARTEN THROUGH TWELVE. 21 20 268 70 252409 -35765 1385583 831213 6816396 7311554 8149 26914 133140 108249 8343268 8277930 1149689 1327236 0 0 4657444 4826765 0 0 305029 2367391 2734833 8174524 8888834 168744 -610904 12002038 11173688 1955361 1699517 10046677 9474171 THE ORGANIZATION IS A NON-SECTARIAN, INDEPENDENT, CO-EDUCATIONAL COLLEGE PREPATORY DAY SCHOOL SERVING GRADES PRE-KINDERGARTEN THROUGH TWELVE. 0 0 7472482 1327236 7059145 WE OPERATE A PRIVATE SCHOOL FOR APPROXIMATELY 480 STUDENTS K-12. 7472482 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 11 0 1 268 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 21 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X KAREN MLIST 5409896641 4254 COLONIAL AVE SW ROANOKE VA 24018 DAVID D H WILLIS TRUSTEE 1.00 X 0 0 0 WILLIAM AMOS TRUSTEE 1.00 X 0 0 0 ROBERT WEBB BURNS TRUSTEE 1.00 X 0 0 0 ROBERTO H ROBINSON TRUSTEE 1.00 X 0 0 0 GEORGE B CARTELEDGE III TRUSTEE 1.00 X 0 0 0 BRADLEY J BLUM TRUSTEE 1.00 X 0 0 0 FRANK RUSSELL ELLETT TRUSTEE 1.00 X 0 0 0 SARAH TUNE DOHERTY TRUSTEE 1.00 X 0 0 0 ASHUTOSH CHANDEL TRUSTEE 1.00 X 0 0 0 IAN MCDADE TRUSTEE 1.00 X 0 0 0 GEORGE I VOGEL III TRUSTEE 1.00 X 0 0 0 ALLEN B WHITTLE TRUSTEE 1.00 X 0 0 0 JAMES V REVERCOMB JR TRUSTEE 1.00 X 0 0 0 ELIZABETH F FRANKL TRUSTEE 1.00 X 0 0 0 MARY LYNN WRIGHT TRUSTEE 1.00 X 0 0 0 TALFOURD H KEMPER JR TRUSTEE 1.00 X 0 0 0 SUSAN K STILL TRUSTEE 1.00 X 0 0 0 EDWARD M SMITH SR TRUSTEE 1.00 X 0 0 0 KATHERINE FRALIN WALKER TRUSTEE 1.00 X 0 0 0 LINDA D FRITH CHAIR 1.00 X X 0 0 0 CHRISTIAN J PROCTOR HEADMASTER 40.00 X X 133943 0 25367 KAREN LIST DIRECTOR OF FINANCE 40.00 X 84582 0 7731 218525 0 33098 1 0 1 0 ANGELIQUE COLLINS AKERS 4254 COLONIAL DRIVE ROANOKE VA 24018 CAFETERIA CONTRACTOR 108949 1 23900 807313 831213 TUITION AND FEES 611110 6312856 6312856 AUXILLARY SERVICES 611110 312793 312793 CARTER ATHLETIC CENTER 713940 252409 252409 433496 433496 7311554 26914 26914 40647 24435 16212 16212 16212 135742 23900 43705 92037 92037 8277930 7059145 252409 135163 1327236 1327236 251623 125812 125811 3607337 3269387 162820 175130 180155 163277 8132 8746 440422 294225 132713 13484 347228 240678 91907 14643 50 50 41770 41770 16319 16319 98407 98407 19419 19419 658173 658173 83290 83290 GENERAL AND ADMINISTRAT 548120 548120 CARTER ATHLETIC CENTER 460566 460566 INSTRUCTION AND STUDENT 418054 418054 AUXILLARY SERVICES 294259 294259 96406 19699 76707 8888834 7472482 1111323 305029 40962 29947 1062476 176254 118631 975 99705 86510 61738 9914 25327 24599 22787 72277 21316415 11595049 9307884 9721366 985557 1026616 276971 25230 12002038 11173688 432663 457985 413370 350541 967633 826788 141695 64203 1955361 1699517 X 7586715 8338053 1683956 357872 776006 778246 10046677 9474171 12002038 11173688 -610904 38398 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 878636 7240 34019 -104046 1023941 824961 17240 36435 878636 818021 6940 824961 7450372 38191 6670542 818021 6837031 852766 202715 36710 7450372 0.11090 0.76000 0.12910 0 0 387605 387605 16705520 8015368 8690152 2611317 2237873 373444 1611973 1341808 270165 9721366 MUTUAL FUNDS 752412 F MANAGED PORTFOLIO 271329 F PRIVATE EQUITY 2875 F 1026616 DEPOSITS HELD FOR OTHERS 64203 64203 X 7057232 38398 68140 106538 6950694 1327236 1327236 8277930 7629738 68140 68140 7561598 1327236 1327236 8888834 PART V, LINE 4: EXPLANATION: SCHOLARSHIP FUNDS - FOR SCHOLARSHIPS AND FACULTY ENRICHMENT. PART X, LINE 2: MANAGEMENT HAS EVALUATED THE EFFECT OF GUIDANCE PROVIDED BY UNITED STATES OF AMERICA GENERALLY ACCEPTED ACCOUNTING PRINCIPLES ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT BELIEVES THAT THE SCHOOL CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AT JUNE 30, 2014. MANAGEMENT HAS EVALUATED ALL OTHER TAX POSITIONS THAT COULD HAVE A SIGNIFICANT EFFECT ON THE FINANCIAL STATEMENTS AND DETERMINED THE SCHOOL HAD NO UNCERTAIN INCOME TAX POSITIONS AT JUNE 30, 2014. TAX YEARS SUBSEQUENT TO 2011 ARE STILL OPEN TO EXAMINATION BY TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXP. NET OF FINANCIAL STATEMENT REVENUE 43,705. REAL PROPERTY RENTAL EXPENSES 24,435. PART XI, LINE 4B - OTHER ADJUSTMENTS: TUITION REMISSION EXPENSE SHOWN NET ON FINANCIALS 903,098. FINANCIAL AID EXPENSE SHOWN NET ON FINANCIALS 424,138. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXP. NET OF FINANCIAL STATEMENT REVENUE 43,705. REAL PROPERTY RENTAL EXPENSES 24,435. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION REMISSION EXPENSE SHOWN NET ON FINANCIALS 903,098. FINANCIAL AID EXPENSE SHOWN NET ON FINANCIALS 424,138. PART XI AND XII, LINE 2D AND 3B: FUNDRAISING EXPENSES ARE SHOWN NET OF EXPENSES AS AN EXPENSE ITEM ON THE FINANCIAL STATEMENTS. RENTAL EXPENSES ARE SHOWN ON THE FINANCIALS AS PART OF THE CARTER ATHLETIC CENTER EXPENSE ITEM. THE TUITION REMISSION AND FINANCIAL AID IS SHOWN NET OF REVENUE ON THE AUDITED FINANCIAL STATEMENTS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE POLICY IS DESCRIBED IN THE HANDBOOK AS WELL AS POSTED ON THE ORGANIZATION WEBSITE SEPARATELY. BIG FLEA 31353 4500 26853 188 5888 WINTER GALA 120928 19400 101528 9223 4400 19228 1 7361 7361 880 1206 2692 159642 23900 135742 10291 5606 27808 43705 92037 1 TUITION REMISSION 62 424138 FINANCIAL AID 117 903098 X X 1 0 X X 0 0 0 0 0 0 0 0 0 CHRISTIAN J PROCTOR HEADMASTER 133943 0 0 0 0 0 13500 0 11867 0 159310 0 0 0 PART I, LINE 1A A RESIDENCE OWNED BY THE NORTH CROSS SCHOOL IS PROVIDED TO THE HEADMASTER AS PART OF THE COMPENSATION PACKAGE. THIS IS A CONDITION OF HIS EMPLOYMENT AND IT IS A FOR THE CONVENIENCE OF THE EMPLOYER AND EMPLOYEE. NORTHCROSS SCHOOL MAINTAINS A SOCIAL MEMBERSHIP TO THE ROANOKE COUNTRY CLUB FOR ITS HEADMASTER, DR. PROCTOR IN ORDER TO FACILITATE THE NEEDS OF THE SCHOOL. ANY ADDITIONAL BENEFITS ARE INCLUDED IN THE HEADMASTER'S W-2 REPORTED WAGES. HOMETOWN BANK PRESIDENT AND CEO IS A BOARD MEMBER OF NORTH CROSS SCHOOL 326788 IN 2012, NORTH CROSS SCHOOL REFINANCED THEIR LINE OF CREDIT INTO A NOTE PAYABLE WITH HOMETOWN BANK, WHOSE PRESIDENT AND CEO IS SUSAN K. STILL. THE INTEREST IS PAYABLE MONTHLY AT A VARIABLE RATE OF THE WALL STREET JOURNAL PRIME RATE PLUS 1.25% (4.5% AT JUNE 30, 2014). 0 FORM 990, PART VI, SECTION B, LINE 11 THE DIRECTOR OF FINANCE, HEADMASTER, AND AUDIT COMMITTEE REVIEWS THE RETURN. ONCE THE AUDIT COMMITTEE APPROVES THE RETURN, THE REST OF THE BOARD REVIEWS IT. THE RETURN IS THEN FILED. FORM 990, PART VI, SECTION B, LINE 12C THE DIRECTOR OF FINANCE IS AWARE OF ALL BUSINESS TRANSACTIONS AND MONITORS THEM CLOSELY FOR ANY CONFLICTS. THE CONFLICT OF INTEREST POLICY IS APPROVED BY THE BOARD. ANY ARISING CONFLICT IS HANDLED IN ACCORDANCE TO PROCEDURES OUTLINED IN THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE HEADMASTER AND DIRECTOR OF FINANCE START THE BUDGET PROCESS IN NOVEMBER. THEY START WITH SEVERAL SALARY INCREASE SCENARIOS AND DETERMINE WHICH OF THE PERCENTAGES THE ORGANIZATION CAN AFFORD. A MEETING IS HELD WITH THE FINANCE COMMITTEE FOR INITIAL REVIEW IN DECEMBER. CONTRACTS ARE SENT OUT WITH INCREASES IN FEBRUARY. NEW HIRE SALARIES ARE DETERMINED BY THE HEADMASTER. COMPARISONS ARE USED FROM VAIS AND NAIS FOR NATIONAL AVERAGE COMPARISONS. THE HEADMASTER SALARY IS DETERMINED BY SALARY COMPARISONS AND APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE EMPLOYEE HANDBOOK, POSTED ON THE WEBSITE, DETAILS ALL POLICIES. FINANCIAL STATEMENTS ARE REVIEWED BY THE FINANCE COMMITTEE, THEN DISTRIBUTED TO THE BOARD. THE ORGANIZATION'S FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICIES, AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. PART XII, LINE 12C: THIS PROCESS HAS NOT CHANGED SINCE LAST YEAR.