2015-04-03T07:32:23-05:00 2014-06-30 621471522 RAYBURN BATES & FITZGERALD PC 5200 MARYLAND WAY SUITE 300 BRENTWOOD TN 37027 990 2013-07-01 620513741 MONTGOMERY BELL ACADEMY OF THE UNIVERSITY OF NASHVILLE MONT 6152985514 4001 HARDING ROAD NASHVILLE TN 37205 ROBERT YAKUSHI DIRECTOR OF FINANCE 6152985514 2015-04-02 1 JOHN V RAYBURN P00429464 6156617878 2013 2016-02-25 16:41:14Z ROBERT YAKUSHI 4001 HARDING ROAD NASHVILLE TN 37205 39583102 0 X WWW.MONTGOMERYBELL.EDU X 1806 TN OPERATION OF BOYS SCHOOL GRADES 7-12 53 50 153 0 0 -59772 10954665 11585827 17285926 18185752 1815190 1408269 244129 249921 30299910 31429769 1750000 1846250 0 0 12078129 12676644 0 0 1731296 15282581 15790603 29110710 30313497 1189200 1116272 155717182 160354485 42294790 40594171 113422392 119760314 MONTGOMERY BELL ACADEMY OFFERS YOUNG MEN AN EXEMPLARY COLLEGE PREPARATORY EXPERIENCE, ASSISTING THEM TO BE "GENTLEMEN, SCHOLARS, AND ATHLETES" AND YOUNG MEN OF WISDOM AND MORAL INTEGRITY WHO WILL MAKE SIGNIFICANT CONTRIBUTIONS TO SOCIETY. 0 0 25101515 1846250 17401564 OPERATION OF A SCHOOL FOR BOYS, GRADES 7-12 - THE SCHOOL HAS AN ENROLLMENT OF OVER 700 STUDENTS. THE EDUCATION CURRICULUM INCLUDES MATH, ENGLISH, HISTORY, SCIENCE, FOREIGN LANGUAGES, AND FINE ARTS. 966252 614981 ATHLETICS PROGRAM - GRADES 7-12 STUDENTS PARTICIPATE IN INTERMURAL AND INTERSCHOLASTIC SPORTS INCLUDING BASEBALL, BASKETBALL, FOOTBALL, SOCCER, GOLF, TRACK, SWIMMING, AND WRESTLING 26067767 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 85 0 1 153 1 0 0 0 0 0 0 0 0 0 0 X 53 50 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 1 1 0 TN X X X ROBERT YAKUSHI 6152985514 4001 HARDING ROAD NASHVILLE TN 37205 DR CARL C AWH TRUSTEE 1.00 X 0 0 0 J BARRY BANKER TREASURER 1.00 X 0 0 0 H LEE BARFIELD II TRUSTEE 1.00 X 0 0 0 LEE A BEAMAN TRUSTEE 1.00 X 0 0 0 BOB BRANNON TRUSTEE 1.00 X 0 0 0 MARTIN BROWN TRUSTEE 1.00 X 0 0 0 VARINA BUNTIN TRUSTEE 1.00 X 0 0 0 ANDREA WAITT CARLTON TRUSTEE 1.00 X 0 0 0 BILL CARPENTER TRUSTEE 1.00 X 0 0 0 JAMES L CHANDLER JR TRUSTEE 1.00 X 0 0 0 JAMES H CHEEK III TRUSTEE 1.00 X 0 0 0 WILLIAM S COCHRAN TRUSTEE 1.00 X 0 0 0 BROWNLEE O CURREY JR TRUSTEE 1.00 X 0 0 0 G THOMAS CURTIS TRUSTEE 1.00 X 0 0 0 WILLIAM T DELAY TRUSTEE 1.00 X 0 0 0 MATT H DOBSON IV TRUSTEE 1.00 X 0 0 0 HON FRANK F DROWOTA III TRUSTEE 1.00 X 0 0 0 JOHN W EAKIN JR TRUSTEE 1.00 X 0 0 0 ROY O ELAM III TRUSTEE 1.00 X 0 0 0 JIM FLAUTT TRUSTEE 1.00 X 0 0 0 SENATOR WILLIAM H FRIST TRUSTEE 1.00 X 0 0 0 BEN S GAMBILL JR TRUSTEE 1.00 X 0 0 0 R WALTER HALE III TRUSTEE 1.00 X 0 0 0 SPEAKER BETH HARWELL TRUSTEE 1.00 X 0 0 0 WILLIAM H HAWKINS TRUSTEE 1.00 X 0 0 0 DAVID B INGRAM VICE CHAIRMAN 1.00 X 0 0 0 JOHN R INGRAM TRUSTEE 1.00 X 0 0 0 CLAY T JACKSON SECRETARY 1.00 X 0 0 0 PAM KOBAN TRUSTEE 1.00 X 0 0 0 ALLEN P MCDANIEL TRUSTEE 1.00 X 0 0 0 ROBERT E MCNEILLY JR TRUSTEE 1.00 X 0 0 0 RICHARD M MILLER TRUSTEE 1.00 X 0 0 0 ROCK A MORPHIS TRUSTEE 1.00 X 0 0 0 JAMES R PICKEL JR TRUSTEE 1.00 X 0 0 0 ADMIRAL J WILSON PRUEHER TRUSTEE 1.00 X 0 0 0 D TATE RICH TRUSTEE 1.00 X 0 0 0 STEPHEN S RIVEN TRUSTEE 1.00 X 0 0 0 JOHN T ROCHFORD TRUSTEE 1.00 X 0 0 0 J HANLEY SAYERS JR TRUSTEE 1.00 X 0 0 0 MARC K STENGEL TRUSTEE 1.00 X 0 0 0 J BRANSFORD WALLACE TRUSTEE 1.00 X 0 0 0 DUDLEY WARNER II TRUSTEE 1.00 X 0 0 0 JAMES A WEBB III CHAIRMAN 1.00 X 0 0 0 W RIDLEY WILLS II HISTORIAN 1.00 X 0 0 0 BLAIR J WILSON TRUSTEE 1.00 X 0 0 0 WILLIAM M WILSON TRUSTEE 1.00 X 0 0 0 P RHOADS ZIMMERMAN TRUSTEE 1.00 X 0 0 0 MR WILLIAM F CARPENTER III TRUSTEE 1.00 X 0 0 0 BRADFORD GIOIA HEADMASTER 50.00 X 411745 0 155228 ROBERT YAKUSHI DIRECTOR OF FINANCE 40.00 X 135000 0 13500 RICHARD H SEAY JR DIRECTOR OF HIGH SCHOOL 40.00 X 158000 0 9480 SCOTT O'NEAL ATHLETIC DIRECTOR 40.00 X 129000 0 15480 FRANCES STEWART DIRECTOR OF JUNIOR SCHOOL 40.00 X 127500 0 12750 JODY JOHNSON DIRECTOR OF ALUMNI AND DEVELOPMENT 40.00 X 147000 0 14700 1108245 0 221138 6 0 1 0 0 11585827 214750 11585827 TUITION AND FEES 611710 16676434 16676434 FOOD SERVICE 611710 709806 709806 ATHLETICS 611710 614981 614981 BOOK STORE INCOME 611710 149816 149816 STUDENT ACTIVITIES 611710 34715 34715 18185752 1720081 1720081 222964 80359 142605 142605 142605 7761162 8072974 -311812 -311812 -311812 107316 107316 107316 31429769 18016545 0 1827397 1846250 1846250 411746 41175 247047 123524 9303556 7545434 969380 788742 838533 650523 107976 80034 1451949 1138727 179886 133336 670860 520904 86121 63835 103762 103762 218858 156966 61892 28909 28909 195374 195374 1012003 1007317 4686 24934 9974 14960 360667 360667 3317801 3317801 PROJECT EXPENSES 5328597 5328597 EQUIPMENT RENTAL AND MA 1438407 1438407 ATHLETIC PROGRAM 966252 966252 SUPPLIES 725649 725649 2069390 1180064 424353 464973 30313497 26067767 2514434 1731296 600 174914 19105765 21114465 2539649 2307150 667863 420678 224724 235520 108076679 29750280 80286926 78326399 39832336 38560662 13049205 19193445 10114 21252 155717182 160354485 1323137 1867508 9427170 10291617 25803721 23263196 750000 750000 4990762 4421850 42294790 40594171 X 66107986 68160698 5503479 5707598 41810927 45892018 113422392 119760314 155717182 160354485 X 1116272 5481941 -285173 24882 X X 1 X 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 59675391 1207201 7176268 3004404 65054456 55637482 937998 6056471 2956560 59675391 56240911 1084202 980187 2667818 55637482 50949495 448495 7822101 2979180 56240911 47601782 1285932 5230453 3168672 50949495 0 0 14982820 14982820 74591749 18545440 56046309 4797892 3155500 1642392 13704218 8049340 5654878 78326399 LIMITED PARTNERSHIP INVESTMENTS 19193445 F 19193445 SUNTRUST LINE OF CREDIT 997625 LIABILITIES IN EXCESS OF PENSION FUND 3424225 4421850 X 36202896 5481940 -273394 5208546 30994350 285173 150246 435419 31429769 29889856 -80359 -80359 29970215 343282 343282 30313497 PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(3), AND, ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS. FASB ASC 740 REQUIRES THE ASSET AND LIABILITY METHOD OF COMPUTING DEFERRED INCOME TAXES. UNDER THE ASSET AND LIABILITY METHOD, DEFERRED INCOME TAXES ARE RECOGNIZED FOR THE TAX CONSEQUENCES OF TEMPORARY DIFFERENCES, BY APPLYING FUTURE STATUTORY TAX RATES TO DIFFERENCES BETWEEN THE FINANCIAL STATEMENTS CARRYING AMOUNTS AND THE TAX BASIS OF EXISTING ASSETS AND LIABILITIES. DEFERRED INCOME TAXES ARISE FROM TEMPORARY DIFFERENCES BETWEEN FINANCIAL AND TAX REPORTING, PRINCIPALLY RELATED TO DEPRECIATION AND THE PROVISION FOR UNCOLLECTIBLE ACCOUNTS. IN ACCORDANCE WITH ASC 740, A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. THE ADOPTION DID NOT HAVE A MATERIAL EFFECT ON THE SCHOOLS FINANCIAL STATEMENTS MANAGEMENT HAS EVALUATED THE TAX POSITIONS TAKEN BY THE SCHOOL AS REQUIRED BY FASB ASC 740 AND DOES NOT BELIEVE THAT THE LIKELIHOOD OF ANY SUCH POSITION TAKEN WILL RISE TO THE LEVEL OF HAVING A MORE LIKELY THAN NOT LOSS OTHER THAN FOR TRIVIAL AMOUNTS. ACCORDINGLY, NO ACCRUAL FOR TAX POSITION ALLOWANCES IS DEEMED NECESSARY AT JUNE 30, 2014. WITH FEW EXCEPTIONS, THE SCHOOL IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE, OR LOCAL INCOME TAX EXAMINATIONS BY AUTHORITIES FOR YEARS BEFORE JUNE 30, 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT -87,760. BOOSTER CLUB EXPENSES -78,563. STUDENT ACTIVITY EXPENSES -107,071. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES 80,359. NONCASH CONTRIBUTIONS 69,617. OTHER 270. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES -80,359. PART XII, LINE 4B - OTHER ADJUSTMENTS: BAD DEBT 87,760. BOOSTER CLUB EXPENSES 78,563. STUDENT ACTIVITY EXPENSES 107,071. NONCASH CONTRIBUTIONS 69,617. OTHER 271. 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 SCHOOL PUBLISHES ITS RACIAL NONDICRIMINATION POLICY IN LOCAL NEWSPAPERS IN THE FALL OF EACH YEAR & DURING OPEN HOUSE AND ADMISSIONS. IT ALSO PUBLICIZES ITS NONDISCRIMINATION POLICY IN THE SCHOOL VIEWBOOK AND STUDENT APPLICATION FORMS 1 FINANCIAL AID 168 0 1846250 FAIR MARKET VALUE NONCASH REDUCTION OF STUDENT TUITION PART I, LINE 2: STUDENT'S TUITION IS DIRECTLY REDUCED BY SCHOLARSHIP GRANTED. PART III THE SCHOOL AWARDS AID TO WORTHY STUDENTS BASED SOLELY ON FINANCIAL NEED. AN OUTSIDE SERVICE REVIEWS THE APPLICATIONS FOR FINANCIAL AID AND RECOMMENDS THE MAXIMUM AMOUNT OF ASSISTANCE FOR EACH APPLICANT. THE SCHOOL'S FINANCIAL COMMITTEE REVIEWS THE RECOMMENDATIONS AND MAKES THE AWARDS. X 0 1 X X X X 0 1 0 0 0 0 0 0 0 BRADFORD GIOIA HEADMASTER 411745 0 0 0 0 0 73399 0 81829 0 566973 0 0 0 RICHARD H SEAY JR DIRECTOR OF HIGH SCHOOL 158000 0 0 0 0 0 9480 0 0 0 167480 0 0 0 JODY JOHNSON DIRECTOR OF ALUMNI AND DEVELOPMENT 147000 0 0 0 0 0 14700 0 0 0 161700 0 0 0 PART I, LINE 1A HOUSING IS PROVIDED FOR THE HEADMASTER OF THE SCHOOL. PART I, LINE 1B IN THE ABSENCE OF WRITTEN POLICY, THE BOARD OF TRUSTEES DETERMINE THE HOUSING PROVIDED TO THE HEADMASTER. PART I, LINE 4B HEADMASTER PARTICIPATES IN A DEFERRED COMPENSATION PLAN UNAVAILABLE TO OTHER EMPLOYEES. A INDUSTRIAL DEVELOPMENT BOARD OF THE METROPOLITAN GOVERNMENT OF NASHVILLE 2014-03-07 5000000 CONSTRUCTION 0 0 0 B INDUSTRIAL DEVELOPMENT BOARD OF THE METROPOLITAN GOVERNMENT OF NASHVILLE 2014-03-24 10000000 CONSTRUCTION 0 0 0 C INDUSTRIAL DEVELOPMENT BOARD OF THE METROPOLITAN GOVERNMENT OF NASHVILLE 2014-04-10 8328266 CONSTRUCTION 0 0 0 D INDUSTRIAL DEVELOPMENT BOARD OF THE METROPOLITAN GOVERNMENT OF NASHVILLE 2010-12-23 30000000 CONSTRUCTION 0 0 0 A 0 0 0 1 B 0 0 0 1 C 0 0 0 1 D 30000000 0 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 D 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 0 B 0 0 0 1 0 0 0 0 0 C 0 0 0 1 0 0 0 0 0 D 0 0 0 1 0 0 0 0 0 SCHEDULE K,PART I,, LINE D THIS BOND WAS FULLY PAID OFF ON MARCH 7, 2014, AND IMMEDIATELY REPLACED BY THE THREE SMALLER BONDS FROM THE SAME SOURCE. MR G THOMAS CURTIS TRUSTEE 283622 MR. CURTIS IS ALSO ON THE BOARD OF DIRECTORS OF DIVERSIFIED TRUST, WHICH HOLDS INVESTMENT ACCOUNTS FOR THE SCHOOL. 0 MR DAVID INGRAM VICE CHAIRMAN OF THE BOARD OF TRUSTEES 200000 MR. INGRAM IS ALSO ON THE BOARD OF AVENUE BANK, WHICH HOLDS DEPOSITORY ACCOUNTS FOR THE SCHOOL. AMOUNT REPORTED INCLUDES ALL DEPOSITS MADE TO AVENUE BANK DURING THE YEAR. 0 X 3 2344 FAIR MARKET VALUE X 4017 FAIR MARKET VALUE X 41 145132 NET STOCK SALE VALUE LES X 59 14097 FAIR MARKET VALUE X EVENT TICKETS 32 30857 FAIR MARKET VALUE X SUPPLIES, MAT 36 10262 FAIR MARKET VALUE X MISCELLANEOUS 9 7029 FAIR MARKET VALUE X MILEAGE 4 630 IRS PUBLISHED RATES X INSURANCE PRE 1 382 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 CERTAIN EMPLOYEES OF THE SCHOOL, INCLUDING THE DIRECTOR OF FINANCE, REVIEWS FORM 990 PRIOR TO FILING TO VERIFY ALL INFORMATION CONTAINED THEREIN IS COMPLETE AND ACCURATE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION DETERMINED BY REVIEW OF RELEVANT INFORMATION BY A COMMITTEE OF THE BOARD OF TRUSTEES. THE OFFICER'S SALARY, AND ANY CHANGES, INCLUDING ANNUAL INCREASES, ARE APPROVED BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 18 SELECTED FINANCIAL INFORMATION AVAILABLE ON ORGANIZATIONS'S WEBSITE AND OTHER NONPROFIT WEBSITES. ALL REQUIRED INFORMATION AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 SELECTED FINANCIAL INFORMATION IS AVAILABLE ON THE ORGANIZATION'S WEBSITE. ALL REQUIRED INFORMATION IS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: EQUITY ROLLFORWARD 24,882. FORM 990, PART XI, LINE 2C THE SCHOOL'S OVERSIGHT AND REVIEW PROCESSES HAVE NOT CHANGED FROM THE PRIOR YEAR.