2015-05-12T13:36:01-05:00 2014-06-30 560570567 DMJ & CO PLLC 509 WEST MAIN STREET SANFORD NC 27332 990 2013-07-01 237125932 SANDHILLS INDEPENDENT SCHOOL CORPORATION SAND 9106926920 P O BOX 290 SOUTHERN PINES NC 283880290 EDWARD T PHILLIPS CFO 9106926920 2015-05-12 1 DONNA B JOHNSON CPA P00176202 9197744535 2013 2016-02-25 16:41:14Z THE O'NEAL SCHOOL EDWARD T PHILLIPS P O BOX 290 SOUTHERN PINES NC 283880290 11479040 0 X WWW.ONEALSCHOOL.ORG X 1971 NC THE O'NEAL SCHOOL IS A COLLEGE PREPARATORY SCHOOL DEDICATED TO THE DEVELOPMENT OF ACADEMIC EXCELLENCE, STRENGTH OF CHARACTER AND PHYSICAL WELL-BEING OF ITS STUDENTS IN AN ENVIRONMENT WHERE INTEGRITY, SELF-DISCIPLINE, AND CONSIDERATION FOR OTHERS ARE FUNDAMENTAL. 20 20 137 150 0 0 282151 391797 6735248 6374886 74942 412423 159954 2925747 7252295 10104853 1076800 958357 0 0 4242867 4606401 0 0 0 2446372 2440357 7766039 8005115 -513744 2099738 16270742 15276550 11165440 8072784 5105302 7203766 THE O'NEAL SCHOOL IS A COLLEGE PREPARATORY SCHOOL DEDICATED TO THE DEVELOPMENT OF ACADEMIC EXCELLENCE, STRENGTH OF CHARACTER AND PHYSICAL WELL-BEING OF ITS STUDENTS IN AN ENVIRONMENT WHERE INTEGRITY, SELF-DISCIPLINE, AND CONSIDERATION FOR OTHERS ARE FUNDAMENTAL. 0 0 5501145 958357 6374886 EDUCATION AND SCHOOL RELATED ACTIVITIES FOR GRADES PRE-K - 12TH SERVICING APPROXIMATELY 430 STUDENTS. 5501145 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 8 0 1 137 1 0 0 0 0 0 1 0 0 0 0 0 X 20 20 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X EDWARD T PHILLIPS 9106926920 3300 AIRPORT RD-PO BOX 290 28388 SOUTHERN PINES NC 28387 DR PAMELA GUEST TRUSTEE 1.00 X 0 0 0 SUSAN BALDELLI TRUSTEE 1.00 X 0 0 0 LINDLEY FLEURY SECRETARY 1.00 X X 0 0 0 SHERWOOD BLACKWOOD TRUSTEE 1.00 X 0 0 0 ROBERTA KING TRUSTEE 1.00 X 0 0 0 MICHAEL GUTSCHMIT TRUSTEE 1.00 X 0 0 0 LAURIE TREXLER TREASURER 1.00 X X 0 0 0 SARAH O'LEARY TRUSTEE 1.00 X 0 0 0 STUART MILLS CHAIRMAN 1.00 X X 0 0 0 DR JOSEPH TOZZI TRUSTEE 1.00 X 0 0 0 STEPHEN LATER TRUSTEE 1.00 X 0 0 0 STAN BRADSHAW TRUSTEE 1.00 X 0 0 0 KONNI MCMURRAY VICE-CHAIRMAN 1.00 X X 0 0 0 XAN SMITH TRUSTEE 1.00 X 0 0 0 DR MATTHEW VREELAND TRUSTEE 1.00 X 0 0 0 DR ZA'VETTE TATUM-KODZAI TRUSTEE 1.00 X 0 0 0 DR LYNDA ACKER TRUSTEE 1.00 X 0 0 0 WINSTON DOZIER TRUSTEE 1.00 X 0 0 0 MARK EPSTEIN TRUSTEE 1.00 X 0 0 0 HARRY HOWELL TRUSTEE 1.00 X 0 0 0 ALAN K BARR HEADMASTER 40.00 X 239995 0 48571 EDWARD T PHILLIPS CFO 40.00 X 125065 0 6774 JOHN ELMORE ASST HEAD OF SCHOOL AND ACAD. AFFAIRS 40.00 X 53720 0 8847 418780 0 64192 3 0 1 0 JANI-KING OF RALEIGHDURHAM 801 JONES FRANKLIN RD STE 230 RALEIGH NC 27606 JANITORIAL 115420 1 391797 5000 391797 EDUCATION SERVICE & FEE 611600 5982564 5982564 AUXILLARY SERVICES 611600 202493 202493 189829 189829 6374886 76467 76467 41282 0 41282 41282 41282 1644466 1308510 335956 335956 335956 204839 65677 139162 139162 FORGIVENESS OF DEBT INCOME 611600 2745303 2745303 2745303 10104853 6374886 0 3338170 958357 958357 551145 42550 508595 3460877 2845727 615150 48289 35874 12415 249502 181082 68420 296588 219307 77281 19510 19510 24103 24103 7603 7603 342260 342260 505890 505890 73789 73789 UTILITIES, INSURANCE AN 452885 52928 399957 PROFESSIONAL DUES, PUBL 176103 12949 163154 FACULTY REMISSION 170600 170600 MATERIALS AND SUPPLIES 136774 111271 25503 530840 357007 173833 8005115 5501145 2503970 0 693006 182568 622736 1787868 751052 583527 90673 137377 77634 60869 16863571 5494989 11762335 11368582 2273306 1155759 16270742 15276550 650842 472490 1429844 1076769 8435000 6500000 51339 23525 598415 0 11165440 8072784 X 3421253 5547287 683614 655895 1000435 1000584 5105302 7203766 16270742 15276550 X 2099738 -1274 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1644691 150 229693 113666 1760868 1431290 217384 3983 1644691 1439197 821 9459 14087 4100 1431290 1167012 4835 270950 3600 1439197 1104797 2017 132248 43850 28200 1167012 1.00000 1 0 264828 264828 14415200 4360512 10054688 980901 313236 667665 1043076 706247 336829 159566 114994 44572 11368582 X 10278369 783471 783471 9494898 609955 609955 10104853 8070794 0 8070794 -65679 -65679 8005115 PART V, LINE 4: GENERAL ENDOWMENT SUPPORTS SCHOOL OPERATIONS, COOK ENDOWMENT IS USED FOR FACULTY PROFESSIONAL DEVELOPMENT, AND CURTIS ENDOWMENT IS FOR BONUSES FOR FACULTY WHO HAVE BEEN WITH THE SCHOOL FOR TWO YEARS OR MORE. PART X, LINE 2: THE SCHOOL IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). THE SCHOOL ACCOUNTS FOR UNCERTAIN INCOME TAX POSITIONS BY PRESCRIBING A MINIMUM PROBABILITY THRESHOLD A TAX POSITION MUST MEET BEFORE A FINANCIAL STATEMENT INCOME TAX BENEFIT IS RECOGNIZED. THE MINIMUM THRESHOLD IS DEFINED AS A TAX POSITION, BASED SOLELY ON ITS TECHNICAL MERITS, THAT WOULD MORE LIKELY THAN NOT BE SUSTAINED UPON EXAMINATION BY THE RELEVANT TAX AUTHORITY WITH KNOWLEDGE OF THE SAME FACTS. THE TAX BENEFIT TO BE RECOGNIZED IS MEASURED AS THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON ULTIMATE RESOLUTION. BASED ON ALL KNOWN FACTS AND CIRCUMSTANCES AND CURRENT TAX LAW, THE SCHOOL BELIEVES THE TOTAL AMOUNT OF UNCERTAIN INCOME TAX POSITION LIABILITIES AND RELATED ACCRUED INTEREST ARE NOT MATERIAL TO ITS FINANCIAL POSITION. AS OF JUNE 30, 2014 AND INCLUDING THE PREVIOUS THREE YEARS CONSIDERING EXTENSIONS, THE SCHOOL'S INCOME TAX RETURNS ARE OPEN AND SUBJECT TO EXAMINATION BY TAX AUTHORITIES WITH RELEVANT JURISDICTION. SHOULD SUCH AN EXAMINATION TAKE PLACE, MANAGEMENT DOES NOT ANTICIPATE ANY SIGNIFICANT ISSUES RELATED TO THE OPEN YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SATISFACTION OF PROGRAM REQUIREMENTS 710,179. UNREALIZED GAIN ON INTEREST RATE SWAP 73,290. ROUNDING 2. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -65,677. CONTRIBUTIONS-TEMPORARILY RESTRICTED 141,743. STUDENT SCHOLARSHIPS 63,800. INCOME FROM LONG-TERM INVESTMENTS 412,364. TEMPORARILY RESTRICTED - FUNDRAISING REVENUE 57,575. CONTRIBUTIONS - PERMANENTLY RESTRICTED 150. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES (INCOME INCLUDED IN NET INCOME) -65,677. ROUNDING -2. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 ADVERTISEMENTS IN THE LOCAL NEWSPAPERS AUCTION 204839 204839 65677 204839 204839 65677 65677 139162 NC 0 THE SCHOOL CONDUCTS A RAFFLE AS PART OF ITS AUCTION FUNDRAISER. TICKETS ARE SOLD AND UPON PURCHASING A TICKET THE DONOR IS REGISTERED TO WIN PRIZES. THE PRIZES ARE DEDUCTED FROM THE REVENUE RECEIVED FROM TICKET SALES. LABOR INVOLVED WITH CARRYING OUT THE RAFFLE IS DONE ON VOLUNTEER BASIS - PARENT ORGANIZATION OF SCHOOL, SCHOOL PERSONNEL AND OTHER COMMUNITY SUPPORTERS. 0 0 0 0 0 1 FINANCIAL AID 129 928213 OTHER - AMOUNT OF FINANCIAL AID GIVEN IS NEED BASED AND VARIES PART I, LINE 2: THE SCHOOL USES AN INDEPENDENT THIRD PARTY TO REVIEW FINANCIAL AID APPLICANTS. ALL FINANCIAL AID IS NEED BASED. THE THIRD PARTY MAKES RECOMMENDATIONS TO THE SCHOOL ON WHAT APPLICANTS THEY FEEL NEED ASSISTANCE AND THE AMOUNT OF ASSISTANCE NEEDED. THE SCHOOL POLICY IS THAT ALL STUDENTS PAY AT LEAST 25% TOWARD TUITION REGARDLESS OF CIRCUMSTANCES. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 ALAN K BARR HEADMASTER 204015 0 12000 0 23980 0 0 0 48571 0 288566 0 0 0 A NC EDUCATION FACILITIES FINANCE AGENCY-EDUCATIONAL FACILITIES REVENUE BOND 561592154 65818PER6 2007-03-22 10000000 REFUNDING OF EXISTING BONDS AND CONSTRUCTION 0 0 0 A 0 0 0 0 A 0 0 0 0 0 0 0 A 0 0 0 0 1 0 0 0 0 A 0 ALAN K BARR HEADMASTER 29250 TUITION REMISSION FORM 990, PART VI, SECTION A, LINE 2 LAURIE TREXLER, TREASURER, AND MICHAEL GUTSCHMIT, TRUSTEE, ARE BROTHER AND SISTER. FORM 990, PART VI, SECTION B, LINE 11 THE FINANCE COMMITTEE IS RESPONSIBLE FOR REVIEWING THE 990 PRIOR TO FILING ON BEHALF OF THE BOARD. AFTER REVIEW BY THE FINANCE COMMITTEE, A REPORT AND COPY OF THE 990 IS GIVEN TO THE ENTIRE BOARD BEFORE THE RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES, OFFICERS, ADMINISTRATORS, FACULTY, STAFF AND OTHER EMPLOYEES HAVE AN OBLIGATION TO EXERCISE THEIR AUTHORITY AND TO CARRY OUT THE DUTIES OF THEIR RESPECTIVE POSITIONS FOR THE SOLE BENEFIT OF THE SCHOOL. WHERE POTENTIAL CONFLICTS OF INTEREST EXIST, IT SHALL BE THE RESPONSIBILITY OF THE PERSON INVOLVED OR ANY OTHER PERSON WITH KNOWLEDGE OF THE EVENT TO NOTIFY THE BOARD. THE BOARD WILL TAKE ACTION AS DEEMED APPROPRIATE. THE CONFLICT OF INTEREST POLICY IS REVIEWED AT LEAST ANNUALLY BY SCHOOL PERSONNEL. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL CONSULTED WITH AN ADVISOR FOR THE HEADMASTER POSITION. THE HEADMASTER'S ORIGINAL COMPENSATION WAS SET AFTER REVIEWING PEER INFORMATION AND RECEIVING RECOMMENDATION FROM THE ADVISOR. AFTER ONE YEAR OF SERVICE TO THE SCHOOL AND ON AN ANNUAL BASIS THEREAFTER, THE EXECUTIVE COMMITTEE OF THE BOARD PERFORMS A REVIEW AND DECIDES ON SALARY ADJUSTMENT. TOP MANAGEMENT, WHICH IS CONSIDERED THE ASSISTANT HEAD OF SCHOOL AND ACADEMIC AFFAIRS AND THE CFO, SERVE AT THE DISCRETION OF THE HEADMASTER, THUS THE HEADMASTER DETERMINES THE COMPENSATION PACKAGE OF THESE TWO POSITIONS. DESCRIPTION OF WHISTLEBLOWER POLICY: EVERY EMPLOYEE WHO FEELS A VIOLATION OF THE HANDBOOK HAS OCCURRED IS ENCOURAGED TO REPORT SUCH VIOLATION. THE EMPLOYEE IS ASKED TO SPEAK WITH HIS OR HER SUPERVISOR OR HEADMASTER OR OTHER DIRECTOR/MANAGER/SUPERVISOR HE OR SHE FEELS COMFORTABLE SPEAKING WITH. ALL DIRECTORS/MANAGERS/SUPERVISORS ARE REQUIRED TO REPORT ANY SUSPECTED VIOLATION TO THE HEADMASTER. THE HEADMASTER IS REQUIRED TO CONDUCT AN INVESTIGATION OF ALL REPORTED VIOLATIONS. ALL REPORTED AND INVESTIGATED CLAIMS ARE ALSO REPORTED TO THE EXECUTIVE COMMITTEE OF THE BOARD. VIOLATIONS MAY BE SUBMITTED ON A CONFIDENTIAL BASIS OR ANONYMOUSLY. FORM 990, PART VI, SECTION C, LINE 19 ALL REQUESTS FOR REVIEW OF THE ORGANIZATION'S GOVERNING DOCUMENTS AND 990 ARE DIRECTED TO THE HEADMASTER AND/OR CFO. FORM 990, PART XI, LINE 9: CHANGE IN MARKET VALUE OF INVESTMENTS -74,564. UNREALIZED GAIN ON INTEREST RATE SWAP 73,290. FORM 990, PART XII LINE 2C: FINANCE COMMITTEE METHODS AND SELECTION THE FINANCE COMMITTEE HAS NOT CHANGED ITS METHOD OF OVERSIGHT OR SELECTION PROCESS FROM THAT OF THE PRIOR YEAR.