2015-01-15T16:11:04-06:00 2014-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990 2013-07-01 231352650 THE AGNES IRWIN SCHOOL AGNE 6105258400 P O BOX 407 ROSEMONT PA 19010 KEVIN MCCULLOUGH DIR OF FINANCE AND FACILITIES 6105258400 2015-01-15 1 JULIUS C GREEN CPA JD P00350393 2129720701 2013 2016-04-25 22:37:26Z KEVIN MCCULLOUGH P O BOX 407 ROSEMONT PA 19010 31935933 0 X WWW.AGNESIRWIN.ORG X 1869 PA TO FOSTER THE INTELLECTUAL AND PERSONAL GROWTH OF GIRLS AND YOUNG WOMEN. 26 25 397 406 0 0 10805374 7418512 19256006 20645778 900733 2304283 286861 231907 31248974 30600480 2827357 3251400 0 0 13633898 14328116 0 0 2148842 5275880 7184829 21737135 24764345 9511839 5836135 92243049 101873318 29356387 32527426 62886662 69345892 X THE AGNES IRWIN SCHOOL EMPOWERS GIRLS TO LEARN, TO LEAD, AND TO LIVE A LEGACY. AGNES IRWIN PROVIDES GIRLS WITH A DEEP FOUNDATION IN THE HUMANITIES, MATHEMATICS AND SCIENCE, WELLNESS AND ATHLETICS. IN AN INCLUSIVE SETTING THAT VALUES DIVERSITY, STUDENTS DEVELOP SKILLS IN CRITICAL AND ANALYTICAL THINKING, SELF-EXPRESSION, EFFECTIVE COMMUNICATION, AND COLLABORATION. A RICH AND VARIED APPROACH TO INSTRUCTION, TEAM AND INDIVIDUAL ENDEAVORS, INQUIRY, AND ASSESSMENT ENABLES GIRLS TO SOLVE PROBLEMS, DESIGN SOLUTIONS, CREATE MEANING, AND PREPARE FOR A COMPLEX AND CHALLENGING WORLD. WE BELIEVE THAT ALL GIRLS AND YOUNG WOMEN HAVE THE CAPACITY TO LEAD AND THAT LEADERSHIP CAN TAKE MANY FORMS. THEREFORE, THROUGH OUR INSTRUCTION, OUR COMMUNITY INTERACTIONS, AND OUR DAILY CHOICES, WE AFFIRM THIS BELIEF AND PROVIDE AN ENVIRONMENT THAT CHALLENGES GIRLS TO DEVELOP THE CORE VALUES OF LEADERSHIP: EMPATHY, INTEGRITY, RESILIENCE, INDEPENDENT THINKING, AND COMMITMENT TO ACTION. AGNES IRWIN STUDENTS ARE A PART 0 0 16422991 3251400 20645778 THE AGNES IRWIN SCHOOL, A NON-DENOMINATIONAL ALL-GIRLS' COLLEGE PREPARATORY SCHOOL FOR GRADES PREK-12, FOSTERS THE INTELLECTUAL AND PERSONAL GROWTH OF GIRLS AND YOUNG WOMEN THROUGH A RIGOROUS LIBERAL ARTS EDUCATION AND DYNAMIC CO-CURRICULAR PROGRAMMING, INCLUDING VISUAL AND PERFORMING ARTS, ATHLETICS, COMMUNITY SERVICE AND LEADERSHIP DEVELOPMENT. OUR CENTER FOR THE ADVANCEMENT OF GIRLS (CAG) SERVES AS A RESEARCH BASE FOR INITIATIVES FOCUSED ON FOUR PILLARS CRITICAL TO GIRLS' SUCCESS: LEADERSHIP, GLOBAL CITIZENSHIP, WELLNESS AND 21ST CENTURY TEACHING AND LEARNING.. OUR 700-PLUS STUDENT BODY REPRESENTS A DIVERSE ARRAY OF COMMUNITIES THROUGHOUT THE PHILADELPHIA REGION. 16422991 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 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 53 0 1 397 1 0 0 0 0 0 1 1 0 0 0 0 X 26 25 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X KEVIN MCCULLOUGH DIR OF FINANCE 6105258400 ITHAN AVENUE CONESTOGA ROAD ROSEMONT PA 19010 DR MARY SEPPALA HEAD OF SCHOOL 40.00 X X 419811 0 87178 ELINOR H BUCK TRUSTEE 1.00 X 0 0 0 JENNIFER KINKEAD TRUSTEE 1.00 X 0 0 0 STEVEN B KATZNELSON TREASURER 1.00 X X 0 0 0 CONNIE ANN PHILLIPS TRUSTEE 1.00 X 0 0 0 NORBORNE GEE SMITH TRUSTEE 1.00 X 0 0 0 SHARON C YOH VICE-CHAIR 1.00 X X 0 0 0 SUSAN S BURCH VICE-CHAIR 1.00 X X 0 0 0 ANN LAUPHEIMER SONNENFELD CHAIR 1.00 X X 0 0 0 ANITA L MCMULLIN TRUSTEE 1.00 X 0 0 0 ROBERT L MCNEIL TRUSTEE 1.00 X 0 0 0 DEREK N PEW TRUSTEE 1.00 X 0 0 0 KRISTIN A SCHINELLA TRUSTEE 1.00 X 0 0 0 PATRICK P COYNE TRUSTEE 1.00 X 0 0 0 JOANNA MCNEIL LEWIS TRUSTEE 1.00 X 0 0 0 LISA SHERRERD BARKER TRUSTEE 1.00 X 0 0 0 CAROLYN C CULLEN TRUSTEE 1.00 X 0 0 0 DEANNA LEICHT LOUGHNANE TRUSTEE 1.00 X 0 0 0 DR BONNIE OFFIT TRUSTEE 1.00 X 0 0 0 MARC RICHMAN TRUSTEE 1.00 X 0 0 0 MARK THORBURN TRUSTEE 1.00 X 0 0 0 CHRISTOPHER THOMPSON TRUSTEE 1.00 X 0 0 0 MERRITT WEBER TRUSTEE 1.00 X 0 0 0 DR TALIBA M FOSTER TRUSTEE 1.00 X 0 0 0 MATTHEW H KAMENS ESQ TRUSTEE 1.00 X 0 0 0 T DAVID WILLIAMS JR ESQ TRUSTEE 1.00 X 0 0 0 KEVIN MCCULLOUGH DIRECTOR OF FINANCE & FACILITIES 40.00 X 190376 0 27488 LYNNE MYAVEC DIRECTOR OF MIDDLE SCHOOL 40.00 X 122403 0 13953 PATRICIA VOIGT DIRECTOR OF CAPITAL CAMPAIGN 40.00 X 129700 0 7337 SALLY KEIDEL ASSISTANT HEAD OF SCHOOL 40.00 X 182134 0 16170 SHEILA PAULEY DIRECTOR OF ATHLETICS 40.00 X 123837 0 13920 NEIL MALEY FACILITIES PROJECT MANAGER 40.00 X 123954 0 13180 1292215 0 179226 12 0 1 0 INTECH CONSTRUCTION 3001 MARKET STREET PHILADELPHIA PA 19104 CONSTRUCTION 2530561 EPLUS TECHNOLOGY INC PO BOX 404398 ATLANTA GA 30384 TECHNOLOGY SOLUTIONS 395750 BOHLIN CYWINSKI JACKSON 8 WEST MARKET STREET WILKESBARRE PA 18701 ARCHITECTURE 256794 STARLITE PRODUCTIONS 9 WHITTENDALE DR MOORESTOWN NJ 08057 AUDIO/VIDEO/LIGHTING 239140 WILLIAMS HOSPITALITY SERVICE INC 97 GREAT VALLEY PARKWAY MALVERN PA 19355 CATERING/CAFE 224738 12 67275 94801 7256436 1668219 7418512 TUITION 611710 20322706 20322706 SUMMER & AFTER SCHOOL SESSION 611710 323072 323072 20645778 905605 905605 35155 28527 6628 6628 6628 2432518 1033840 1398678 1398678 1398678 216090 67275 133333 82757 82757 176523 139753 36770 36770 INT'L STUDENT FEES 611710 34000 34000 YEARBOOK AD SALES 611710 12430 12430 VENDING MACHINE SALES 611710 6781 6781 52541 52541 105752 30600480 20645778 0 2536490 3251400 3251400 720562 720562 10835593 7090828 2627584 1117181 539003 369876 117996 51131 1419516 877366 478340 63810 813442 505385 230016 78041 19090 19090 42541 42541 324170 183596 76517 64057 709934 377098 179591 153245 364453 80318 265599 18536 1153116 792390 315408 45318 326354 203113 123241 285367 285367 2118754 1724502 299224 95028 148277 112870 29187 6220 AUXILLIARY PROGRAMS 422824 422824 DUES & SUBSCRIPTIONS 253042 253042 RECRUITING FEES 156618 156618 EVENT/MEETING CATERING 139858 139858 720431 431425 209014 79992 24764345 16422991 6192512 2148842 707 334 5267542 5742431 11456833 8994895 56272 66702 76499 83593 332362 277926 80124299 19789495 51681371 60334804 661641 844053 20179119 21704154 2530703 3824426 92243049 101873318 4527456 2072727 1878723 2180601 8840000 8585000 12430650 17871162 1679558 1817936 29356387 32527426 X 48604737 52348172 2013482 4114523 12268443 12883197 62886662 69345892 92243049 101873318 X 5836135 391042 232053 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20756071 93811 2627321 1033840 22443363 22414212 136462 2248676 4043279 20756071 21163394 3105387 -943229 911340 22414212 18233695 58911 3841488 970700 21163394 16236623 1046916 1967206 1017050 18233695 0.43670 0.48250 0.08080 1 0 69496626 11738359 57758267 1219782 186209 1033573 9353821 7864927 1488894 54070 54070 60334804 TIFF INVESTMENTS 21704154 F 21704154 ACCRUED POST RETIREMENT COST 1817936 1817936 X 28283342 391042 -2869347 -2478305 30761647 -161167 -161167 30600480 21824224 318280 318280 21505944 3258401 3258401 24764345 PART V, LINE 4: THE ORGANIZATION'S ENDOWMENT FUNDS ARE USED TO PROVIDE INCOME IN SUPPORT OF FACULTY SALARIES, SABBATICALS, PROFESSIONAL DEVELOPMENT AND RETIREMENT, ACADEMIC CHAIRPERSONS, FINANCIAL AID, COMMUNITY SERVICE, CURRICULUM ENRICHMENT, VISITING LECTURERS AND LIBRARY SERVICES. PART X, LINE 2: THE SCHOOL ACCOUNTS FOR UNCERTAINTIES IN INCOME TAXES IN ACCORDANCE WITH AUTHORITATIVE GUIDANCE, WHICH PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. THE SCHOOL'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR 2013, 2012, AND 2011 REMAIN SUBJECT TO EXAMINATION BY THE IRS. THE SCHOOL'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST ARRANGEMENTS 271,360. FINANCIAL AID (TUITION AND FEES) -3,251,400. CHANGE IN BENEFICIAL INTERESTS 110,693. PART XI, LINE 4B - OTHER ADJUSTMENTS: PARENTS' COUNCIL INCREASE IN NET ASSETS LESS ADMIN EXPENSES -14,801. ALUMNAE ASSOCIATION INCREASE IN NET ASSETS LESS ADMIN EXPENSES 21,914. COST OF GOODS SOLD -139,753. RENTAL EXPENSES -28,527. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 139,753. BAD DEBTS FROM UNCOLLECTIBLE PLEDGES 150,000. RENTAL EXPENSES 28,527. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID (TUITION AND FEES) 3,251,400. PARENTS' COUNCIL ADMIN EXPENSES 7,001. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 WEBSITE, NEWSPAPERS SCHEDULE E, PART I, LINE 6 THE SCHOOL RECEIVES STATE ASSISTANCE FOR BOOKS. WINTERFEST 196618 45275 151343 455 41566 31216 GOLF OUTING 27875 22000 5875 26741 4360 4 58872 58872 28995 283365 67275 216090 455 26741 41566 64571 133333 82757 1 FINANCIAL AID 171 3251400 PART I, LINE 2: THE SCHOOL IS COMMITTED TO HAVING A SOCIO-ECONOMICALLY, ETHNICALLY, RACIALLY AND RELIGIOUSLY DIVERSE STUDENT BODY. THE SCHOOL IS ALSO COMMITTED TO MAKING ITS EDUCATIONAL OPPORTUNITIES AVAILABLE TO BRIGHT, MOTIVATED AND TALENTED GIRLS REGARDLESS OF THEIR FAMILY'S ABILITY TO PAY. FINANCIAL AID DECISIONS ARE MADE ON THE BASIS OF DEMONSTRATED NEED AND THE AVAILABILITY OF FUNDS. EXPECTATIONS FOR FAMILIES: THE PRIME RESPONSIBILIY FOR FINANCING A STUDENT'S EDUCATION RESTS WITH HER FAMILY. BEFORE APPLYING FOR FINANCIAL AID, FAMILIES SHOULD ADJUST SPENDING PRIORITIES, REEVALUATING EXPENSES RELATED TO ENTERTAINMENT, VACATIONS, SPORTS AND CLUB MEMBERSHIPS AND OTHER NON-ESSENTIAL EXPENDITURES. BOTH PARENTS (INCLUDING CUSTODIAL AND NON-CUSTODIAL) MUST SUBMIT A PARENTS' FINANCIAL STATEMENT (PFS) FORM TO THE SCHOOL AND STUDENT SERVICES FOR FINANCIAL AID (SSS) BY JANUARY 15TH. EARNINGS AND ASSETS OF STEPPARENTS MUST ALSO BE INCLUDED. BOTH PARENTS ARE ALSO REQUIRED TO SUBMIT TO THE DIRECTOR OF FINANCIAL AID THE MOST RECENT FORM 1040. FINANCIAL AID IS RECALCULATED EACH YEAR USING CURRENT INFORMATION. A FAMILY IS GUARANTEED THE SAME PERCENT AWARD AS ORIGINALLY OFFERED ASSUMING THEIR FINANCIAL PROFILE REMAINS THE SAME. EXPECTATIONS FOR THE FINANCIAL AID COMMITTEE: SHOULD A CURRENTLY ENROLLED FAMILY EXPERIENCE A CHANGE IN THEIR ECONOMIC CONDITION, THE COMMITTEE WILL EVALUATE THEIR CIRCUMSTANCES (USING THE PFS AND TAX RETURNS) AND OFFER ASSISTANCE FOR ONE YEAR. A LONG TERM COMMITMENT WILL BE CONSIDERED BUT NOT GUARANTEED. ADMINISTRATION WILL KEEP WATCH ON ANY SIGNIFICANT GROWTH IN SUCH SITUATIONS AND ITS IMPACT ON THE FINANCIAL AID BUDGET. SEE SCHEDULE O FOR CONTINUATION X X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 DR MARY SEPPALA HEAD OF SCHOOL 416811 0 0 0 3000 0 35750 0 51428 0 506989 0 0 0 KEVIN MCCULLOUGH DIRECTOR OF FINANCE & FACILITIES 190376 0 0 0 0 0 19115 0 8373 0 217864 0 0 0 SALLY KEIDEL ASSISTANT HEAD OF SCHOOL 182134 0 0 0 0 0 8000 0 8170 0 198304 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL IS PROVIDED BENEFITS THAT RELATE TO BUSINESS TRAVEL AND FUNDRAISING ACTIVITIES. THE DISCRETIONARY ACCOUNT REIMBURSES THE HEAD OF SCHOOL FOR BUSINESS EXPENSES INCURRED PERSONALLY. THESE BUSINESS EXPENSES MAY RANGE FROM SUPPORT FOR ATHLETICS TO USING FUNDS TO ASSIST TEACHERS IN THE ATTENDANCE OF CONFERENCES. ALL EXPENSES ARE FULLY DOCUMENTED BY THE SCHOOL. THE HEAD OF SCHOOL IS ALSO REQUIRED TO LIVE IN A HOUSE SITUATED ON CAMPUS. THE VALUE OF THE HOUSING IS CALCULATED TO BE $41,832, WHICH HAS BEEN INCLUDED WITH THE HEAD OF SCHOOL'S OTHER NONTAXABLE BENEFITS. PART I, LINE 4B THE HEAD OF SCHOOL, DR. MARY SEPPALA, PARTICIPATES IN A 457(F) PLAN. DURING THE CALENDAR YEAR ENDING DECEMBER 31, 2013 THE AMOUNT OF $23,000 WAS CONTRIBUTED TO THE PLAN FOLLOWING THE STIPULATIONS IN HER EMPLOYMENT AGREEEMENT. A DELAWARE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 231997311 246018EE1 2003-10-01 11000000 SEE SCHEDULE O 0 0 0 A 2415000 11000000 186860 10813140 2004 0 0 1 1 A 0 1 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 0 0 0 1 A 1 X 94801 PURCHASE PRICE X 19 1573418 NYSE VALUE 0 0 0 1 PART I, LINE 32B: THE ORGANIZATION USES A THIRD PARTY BROKER TO PROCESS STOCK TRANSACTIONS RELATED TO THE CONTRIBUTION OF STOCK. FORM 990, PART VI, SECTION A, LINE 2 ROBERT MCNEIL AND JOANNA MCNEIL LEWIS HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS INITIALLY REVIEWED BY THE CONTROLLER AND DIRECTOR OF FINANCE. ONCE INITIAL APPROVAL HAS OCCURRED, THE RETURN IS THEN PRESENTED TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL. THE FULL BOARD OF DIRECTORS THEN RECEIVES THE RETURN FOR REVIEW AND APPROVAL FOR A TWO WEEK PERIOD. ONCE THE TWO WEEK COMMENTS PERIOD HAS ENDED, THE RETURN IS THEN FINALIZED AND SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES AND EMPLOYEES ARE REQUIRED TO RE-EVALUATE AND DISCLOSE ANY CONFLICT OF INTERESTS ON AN ANNUAL BASIS. THE TRUSTEES' MANUAL INCLUDES A CODE OF ETHICS AND ALL BOARD MEMBERS, OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO SIGN THE BUSINESS CODE OF ETHICS POLICY ANNUALLY. BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES ABSTAIN FROM ANY DECISIONS AND OR INVOLVEMENT IN TRANSACTIONS IN WHICH A CONFLICT OF INTEREST MAY BE PRESENT. THE BOARD AS A WHOLE, LED BY THE CHAIRMAN, MONITORS THE POLICY AND ANY POTENTIAL OR REAL CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES' COMPENSATION COMMITTEE REVIEWS COMPARATIVE STATISTICS IN ORDER TO DETERMINE COMPENSATION FOR THE HEAD OF SCHOOL WITH THE ASSISTANCE OF AN INDEPENDENT CONSULTANT. SALARIES ARE BENCHMARKED WITH OTHER, SIMILAR ORGANIZATIONS TO ENSURE COMPENSATION IS WITHIN FAIR MARKET RANGE FOR THE INDUSTRY. ALL SALARY DISCUSSIONS ARE DOCUMENTED IN BOARD MINUTES. THE HEAD OF SCHOOL REVIEWS AND APPROVES COMPENSATION FOR OTHER KEY EMPLOYEES USING SIMILAR MARKET STUDIES AND SALARY SURVEYS TO ENSURE KEY EMPLOYEES' COMPENSATION IS WITHIN FAIR MARKET RANGE FOR THE INDUSTRY. THE HEAD OF SCHOOL REVIEWS AND APPROVES COMPENSATION FOR ALL OTHER EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT-INTEREST AGREEMENTS 271,360. CHANGE IN BENEFICIAL INTERESTS 110,693. BAD DEBTS -150,000. SCHEDULE I, PART I, LINE 2 CONTINUATION: FINANCIAL AID DOLLARS WILL BE AWARDED WITHIN THE FOLLOWING RANGES: 45%-55% - UPPER SCHOOL 25%-35% - MIDDLE SCHOOL 15%-25% - LOWER SCHOOL THE FINANCIAL AID COMMITTEE WILL GIVE PREFERENCE TO FACULTY CHILDREN ONLY WHEN MAKING AWARDS; CONSIDERATION WILL BE GIVEN TO SIBLINGS AND CHILDREN OF ALUMNAE, WHICH MEANS THAT THE COMMITTEE MAY WEIGH IN FAVOR OF THESE TWO SUBSETS WHEN ALL ELSE IS EQUAL. THE FINANCIAL AID COMMITTEE WILL EXERCISE CAREFUL, DELIBERATE CONSIDERATION WHEN AWARDING FINANCIAL AID, USING THE DIVISIONAL GUIDELINES, AS A TOOL FOR ENROLLMENT MANAGEMENT. FINANCIAL AID IS AVAILABLE TO ALL GRADES; HOWEVER THERE WILL BE A LIMIT OF 50% GRANT IN PRE-K. A STUDENT'S FINANCIAL AID ALLOCATION WILL BE RECONSIDERED AT KINDERGARTEN AND EVALUATED BASED ON FULL TUITION COSTS. SCHEDULE K, PART I, LINE A, COLUMN F: FINANCING OR REFINANCING OF ALL OR ANY PORTION OF THE COSTS OF ACQUISITION, CONSTRUCTION, EQUIPPING AND IMPROVEMENT OF CAPITAL PROJECTS INCLUDING THE FINANCING OF THE COSTS OF ISSUANCE OF THE BONDS AND THE ESTABLISHMENT OF RESERVE FUNDS. CHARITABLE REMAINDER TRUST INVESTMENTS PA N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0