2015-05-07T09:08:22-05:00 2014-06-30 621736974 DEMPSEY VANTREASE & FOLLIS PLLC 630 S CHURCH ST STE 300 MURFREESBORO TN 37130 990 2013-07-01 620401875 THE WEBB SCHOOL WEBB 9313899322 PO BOX 488 BELL BUCKLE TN 37020 JOE IORIO BUSINESS MANAGER 6153899322 2015-05-05 1 MARK E FOLLIS CPA P01283359 6158936666 2015-04-29 X 2013 2016-02-25 16:41:14Z JOE IORIO 319 WEBB ROAD EAST BELL BUCKLE TN 37020 16604424 0 X WWW.THEWEBBSCHOOL.COM X 1921 TN EDUCATION GRADES 6-12 23 23 140 0 19785 -1187 1103253 2368091 7505046 7873855 1863161 2168422 138825 371833 10610285 12782201 1427877 1684672 0 0 4976832 5032754 1001 0 549257 2877548 3013256 9283258 9730682 1327027 3051519 38207890 43780223 2915474 4003605 35292416 39776618 EDUCATION; GRADES 6-12 0 0 7256910 1684672 7916576 EDUCATIONAL ACTIVITIES: TEACHERS SALARIES & BENEFITS, SUPPLIES, LIBRARY BOOKS & PERIODICALS, CONTINUING EDUCATION OF STAFF, STUDENT ACTIVITIES, FINANCIAL AID, FOOD SERVICE AND PHYSICAL EDUCATION & ATHLETICS FOR 300 STUDENTS 7256910 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 0 0 0 0 0 0 0 0 0 0 1 68 0 140 1 1 1 0 0 0 0 0 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 X JOE IORIO 9313899322 319 HWY 82 BELL BUCKLE TN 370200488 GEORGE PINE III CHAIR 2.00 X X 0 0 0 KEITH BARTON TRUSTEE 0.30 X 0 0 0 HUNTER WELLES TRUSTEE 0.30 X 0 0 0 S NORFLEET ANTHONY JR TRUSTEE EMERITUS 0.00 X 0 0 0 GLENN JONES TRUSTEE 0.30 X 0 0 0 JAMES BERRY TRUSTEE 0.30 X 0 0 0 HUGH BYRD TRUSTEE EMERITUS 0.00 X 0 0 0 LEWIS BRANSCOMB TRUSTEE EMERITUS 0.00 X 0 0 0 EUGENIA H CAMMACK TRUSTEE EMERITUS 0.00 X 0 0 0 LEE WOOSLEY TRUSTEE 0.30 X 0 0 0 DREW CARRINGTON TRUSTEE 0.30 X 0 0 0 ED DAVIES TRUSTEE EMERITUS 0.00 X 0 0 0 HUGH ELDREDGE TRUSTEE EMERITUS 0.00 X 0 0 0 R WALTER HALE III TRUSTEE EMERITUS 0.00 X 0 0 0 DAVID LAROCHE TRUSTEE 0.30 X 0 0 0 STEVEN GRAHAM TRUSTEE 0.30 X 0 0 0 THOMAS LISENBY TRUSTEE EMERITUS 0.00 X 0 0 0 JOHN P MATTHEWS IV TRUSTEE 0.30 X 0 0 0 JAMES MCDONNELL TRUSTEE EMERITUS 0.00 X 0 0 0 PAUL JENNINGS TRUSTEE 0.30 X 0 0 0 FORREST SHOAF TRUSTEE 0.30 X 0 0 0 J GARNER MOORE III TRUSTEE EMERITUS 0.00 X 0 0 0 SMITH MURPHEY IV TRUSTEE EMERITUS 0.00 X 0 0 0 MATTHIAS MURFREE TRUSTEE 0.30 X 0 0 0 WAYNE ROGERS JR TRUSTEE 0.30 X 0 0 0 JOHN SAWYER TRUSTEE 0.30 X 0 0 0 WILSON SIMS SR TRUSTEE EMERITUS 0.00 X 0 0 0 FRED SINGER TRUSTEE EMERITUS 0.00 X 0 0 0 CHARLES STEPHENS TRUSTEE EMERITUS 0.00 X 0 0 0 R BLAIR STEPHENS TRUSTEE EMERITUS 0.00 X 0 0 0 ANN SHORT TRUSTEE 0.30 X 0 0 0 PAUL STUMB III TRUSTEE EMERITUS 0.00 X 0 0 0 ADRIENNE UNDERHILL TRUSTEE EMERITUS 0.00 X 0 0 0 RUSKIN VEST JR TRUSTEE 0.30 X 0 0 0 PHILLIP COOP TRUSTEE 0.30 X 0 0 0 WILLIAM HARDIN TRUSTEE 0.30 X 0 0 0 BOB F THOMPSON TRUSTEE 0.30 X 0 0 0 KELLY O'DANIEL TRUSTEE 0.30 X 0 0 0 GWEN OWEN TRUSTEE 0.30 X 0 0 0 JOE IORIO BUSINESS MANAGER 45.00 X 119810 0 16581 WILLIAM H HUDDLESTON IV VICE CHAIR 1.00 X 0 0 0 RAYMOND S BROADHEAD HEADMASTER 50.00 X 231325 0 36689 CLAUDIA HAZELWOOD DEVELOPMENT COORDINATOR 40.00 X 104093 0 12523 455228 0 65793 3 0 1 0 SAGE DINING SERVICES 1402 YORK ROAD STE 100 LUTHERVILLE MD 21093 FOOD SERVICE 517755 THOMAS TOURS 205 12TH AVE SOUTH NASHVILLE TN 37204 TRAVEL SERVICES 130107 2 2368091 2368091 TUITION AND FEES 611600 7873855 7873855 7873855 346422 -7115 353537 302212 302212 5644223 3822223 1822000 1822000 1822000 SUMMER SCHOOL AND CAMPS 611600 56320 29420 26900 MISCELLANEOUS INCOME 611600 13301 13301 69621 12782201 7916576 19785 2477749 1684672 1684672 397501 397501 3679071 2700026 642064 336981 199643 133242 50079 16322 483426 337142 106771 39513 273113 182046 66101 24966 3147 3147 27105 27105 100325 100325 7055 7055 81862 81862 258932 155587 64805 38540 15471 15471 705808 634506 59703 11599 236014 130617 64154 41243 40405 37554 2851 721866 615404 98207 8255 109037 92965 14829 1243 FOOD FOR CAFETERIA 245313 245313 STUDENT ACTIVITIES 114044 114044 STUDENT SPORTS 113937 113937 BAD DEBTS 66140 66140 166795 64384 74667 27744 9730682 7256910 1924515 549257 3111490 2529168 1124140 2075115 57600 113393 55158 49961 97870 76285 22392267 11759164 8432395 10633103 13081551 10799336 12247686 17503862 38207890 43780223 688702 615523 652753 662786 1458511 2415412 156000 115508 153884 2915474 4003605 X 13413546 16326226 9788956 10990192 12089914 12460200 35292416 39776618 38207890 43780223 X 3051519 1453595 -20912 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 25329237 357565 3792488 101634 1074458 28303198 23674561 342552 2439686 120632 1006930 25329237 23928214 98223 770432 2836 1119472 23674561 21725848 57511 3341829 302549 894425 23928214 20617075 105023 2308230 210774 1093706 21725848 0.21000 0.44000 0.35000 1 0 106884 106884 19758481 9734107 10024374 1961524 1624794 336730 565378 400263 165115 10633103 INVESTMENT FUND- MONEY MARKET 370515 F LIMITED PARTNERSHIPS 17133347 F 17503862 DEPOSITS AND OTHER LIABILITIES 153884 153884 X 12450802 1453595 1453595 10997207 100325 1684669 1784994 12782201 7945685 0 7945685 100325 1684672 1784997 9730682 PART V, LINE 4: THE SCHOOLS ENDOWMENT FUND IS USED TO HELP SUPPORT THE OPERATIONS OF THE SCHOOL. IT IS SUBJECT TO A POLICY WHEREBY THE ANNUAL WITHDRAWAL FROM THE FUND IS CAPPED AT 5%. PART X, LINE 2: THE SCHOOL IS A TAX EXEMPT INSTITUTION UNDER IRC 501C3 AND ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE SCHOOL ACCOUNTS FOR UNCERTAINTIES IN INCOME TAX LAW UNDER FASB ASC 740-10 WHICH PRESCRIBES A COMPREHENSIVE MODEL FOR THE FINANCIAL STATEMENT RECOGNITION, MEASUREMENT, PRESENTATION AND DISCLOSURE OF UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN INCOME TAX RETURNS. ASC 740-10 REQUIRES THAT THE TAX EFFECTS OF A POSITION BE RECOGNIZED ONLY IF IT IS "MORE LIKELY THAN NOT" TO BE SUSTAINED BY THE TAXING AUTHORITY AS OF THE REPORTING DATE. IF THE TAX POSITION IS NOT CONSIDERED "MORE LIKELY THAN NOT" TO BE SUSTAINED, THEN NO BENEFITS OF THE POSITION ARE TO BE RECOGNIZED. THE SCHOOL HAS NO UNRECOGNIZED TAX BENEFITS FOR ANY OF THE PERIODS PRESENTED. TO THE EXTENT APPLICABLE IN THE FUTURE, INTEREST AND PENALTIES RELATED TO INCOME TAX LIABILITIES WILL BE INCLUDED IN PRETAX INCOME AS INTEREST EXPENSE AND TAX PENALTIES. AT JUNE 30, 2014, THE SCHOOLS TAX RETURNS RELATED TO FISCAL YEARS ENDED JUNE 30, 2011 TO 2014 REMAIN OPEN TO EXAMINATION BY THE TAX AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID/SCHOLARSHIPS 1,684,672. ROUNDING -3. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID/SCHOLARSHIPS 1,684,672. 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 THE NONDISCRIMINATION POLICY IN THE LOCAL NEWSPAPER IN THE FALL EACH YEAR AND IN THE SCHOOL PUBLICATIONS 1 FINANCIAL AID TO STUDENTS ATTENDING WEBB SCHOOL 142 1684672 STUDENT FINANCIAL AID PART I, LINE 2: THE SCHOOL IS COMMITTED TO PROVIDING FINANCIAL AID TO STUDENTS WHO WOULD OTHERWISE BE UNABLE TO ATTEND THE SCHOOL. THE COMPLETION OF THE FINANCIAL AID APPLICATION DOES NOT HAVE ANY BEARING UPON WHETHER THE STUDENT IS ADMITTED TO THE SCHOOL. THE SCHOOL DETERMINES A FAMILY'S CONTRIBUTION BASED UPON THE EVALUATION COMPLETED BY THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID, AN UNAFFILIATED ENTITY IN NEW JERSEY WHO PERFORMS SIMILAR SERVICES FOR OTHER SCHOOLS THROUGHOUT THE COUNTRY. FINANCIAL AID FORMS MUST BE COMPLETED EACH YEAR BY THE STUDENT AND MONITORED BY THE SCHOOL TO REEVALUATE THE AMOUNT OF THE FINANCIAL AID. X X X X 0 1 X X X X 0 1 0 0 0 0 0 1 0 RAYMOND S BROADHEAD HEADMASTER 218325 0 13000 0 0 0 22516 0 14173 0 268014 0 0 0 PART I, LINE 1A WEBB SCHOOL PROVIDES A RESIDENCE ON CAMPUS FOR ITS HEADMASTER. IT IS A CONDITION OF EMPLOYMENT AND SINCE WEBB IS A BOARDING SCHOOL, IT IS DEEMED NECESSARY FOR THE HEADMASTER TO REMAIN ON CAMPUS TO HELP OVERSEE STUDENT ACTIVITIES. THE SCHOOL PROVIDES A DISCRETIONARY SPENDING ACCOUNT OF UP TO $5,000 FOR THE HEADMASTER. DURING THE CURRENT YEAR $2,556 WAS SPENT FROM THIS ACCOUNT. PART I, LINE 1B AS EXPLAINED ABOVE THE USE OF A RESIDENCE ON CAMPUS BY THE HEADMASTER IS REQUIRED AS A CONDITION OF EMPLOYMENT. THIS ARRANGEMENT IS APPROVED BY THE BOARD OF DIRECTORS. PART I, LINE 4B RAYMOND BROADHEAD, THE SCHOOL HEADMASTER, IS PROVIDED A NONQUALIFIED SUPPLEMENT RETIREMENT BENEFIT THAT HE IS ENTITLED TO RECEIVE UPON RETIREMENT IF HE MEETS CERTAIN CONDITIONS. THE AMOUNT ACCRUED FOR YEAR-END JUNE 30, 2014 WAS $10,950. PART I, LINE 7 THE HEADMASTER RECEIVED A DISCRETIONARY BONUS APPROVED BY THE BOARD OF DIRECTORS. A INDUSTRIAL DEVELOPMENT BOARD OF CITY OF SHELBYVILLE TENNESSEE 521393194 2012-10-15 5000000 REFINANCE EXISTING DEBT AND CONSTRUCT NEW SCHOOL CLASSROOMS AND DORMS 0 1 0 A 2415412 26385 1568027 821000 1 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 1 1 0 1 1 SUNTRUST 10.000000000000 0 0 0 0 0 A 0 PAGE 1, PART II, LINE 3 AND LINE 11 AS OF JUNE 30, 2014, ONLY $2,415,412 OF BOND HAS BEEN DRAWN FOR DEBT REFINANCING AND CAPITAL PROJECTS. LINE 11 INCLUDES PROCEEDS USED TO RETIRE OLD BONDS(1999 ISSUE). FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE FORM 990 WAS EMAILED TO THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD CHAIR, BUSINESS MANAGER AND HEADMASTER WORK CLOSELY ENOUGH THROUGHOUT THE YEAR TO MONITOR ACTIVITIES OF BOARD MEMBERS TO INSURE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL REVIEWS NAIS DATA AND FORM 990S OF OTHER SIMILIAR SCHOOLS WHEN IT DETERMINES COMPENSATION FOR KEY EMPLOYEES AND TOP SCHOOL OFFICIALS WHICH IS APPROVED BY THE EXECUTIVE COMMITTEE OF THE GOVERNING BOARD. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE GENERAL PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 14,134. CHANGE IN VALUE OF INTEREST RATE SWAP -35,049. ROUNDING 3.