2014-01-27T17:28:52-06:00 2013-06-30 560574444 CHERRY BEKAERT LLP 410 FIRST STREET ROANOKE VA 24011 990 2012-07-01 540699572 NORTH CROSS SCHOOL NORT 5409896641 4254 COLONIAL AVE SW ROANOKE VA 24018 KAREN M LIST 5409896641 2014-01-23 1 F FULTON GALER P00296103 5403426911 2012 2015-11-30 17:44:51Z KAREN M LIST 4254 COLONIAL AVE SW ROANOKE VA 24018 8399094 0 X WWW.NORTHCROSS.ORG X 1944 VA A NON-SECTARIAN, INDEPENDENT, CO-EDUCATIONAL COLLEGE PREPATORY DAY SCHOOL, SERVICING GRADES PRE-KINDERGARTEN THROUGH TWELVE. 17 16 277 73 261782 -7537 1100825 1385583 5701557 6816396 6763 8149 119838 133140 6928983 8343268 6500 1149689 0 0 4511225 4657444 0 0 148425 2165008 2367391 6682733 8174524 246250 168744 11617440 12002038 1768336 1955361 9849104 10046677 THE ORGANIZATION IS A NON-SECTARIAN, INDEPENDENT, CO-EDUCATIONAL COLLEGE PREPATORY DAY SCHOOL SERVING GRADES PRE-KINDERGARTEN THROUGH TWELVE. 0 0 7170026 1149689 6554614 WE OPERATE A PRIVATE SCHOOL FOR APPROXIMATELY 460 STUDENTS K-12. 7170026 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 17 0 1 277 1 1 1 0 0 0 0 0 0 0 0 0 X 17 16 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 1.00 X 0 0 0 WILLIAM AMOS 1.00 X 0 0 0 ASHUTOSH CHANDEL 1.00 X 0 0 0 ROBERTO H ROBINSON 1.00 X 0 0 0 GEORGE B CARTELEDGE III 1.00 X 0 0 0 KATHERINE FRALIN WALKER 1.00 X 0 0 0 FRANK RUSSELL ELLETT 1.00 X 0 0 0 SARAH TUNE DOHERTY 1.00 X 0 0 0 STEPHEN LEMON 1.00 X 0 0 0 IAN MCDADE 1.00 X 0 0 0 GEORGE I VOGEL III 1.00 X 0 0 0 ALLEN B WHITTLE 1.00 X 0 0 0 JAMES V REVERCOMB JR 1.00 X 0 0 0 ELIZABETH F FRANKL 1.00 X 0 0 0 MARY LYNN WRIGHT 1.00 X 0 0 0 LINDA D FRITH 1.00 X X 0 0 0 CHRISITAN J PROCTOR 40.00 X X 121151 0 21737 KAREN LIST 40.00 X X 81885 0 7600 203036 0 29337 1 0 0 0 NCS CAFETERIA 4254 COLONIAL DRIVE ROANOKE VA 24018 CAFETERIA OPERATIONS 195372 1 39520 1346063 1385583 TUITION AND FEES 611110 5790426 5790426 PROGRAM SERVICE REVENU 611110 448259 448259 AUXILIARY SERVICES 611110 315929 315929 CARTER ATHLETIC CENTER 713940 261782 261782 6816396 8149 8149 32345 16757 15588 15588 15588 156621 39520 39069 117552 117552 8343268 6554614 261782 141289 1149689 1149689 232373 232373 3700485 3393803 217362 89320 420622 279711 137832 3079 303964 198688 98318 6958 29050 29050 21654 21654 102510 102510 10546 10546 568365 568365 70709 70709 INSTRUCTION AND STUDENT 437937 437937 CARTER ATHLETIC CENTER 431351 431351 AUXILIARY SERVICES 276818 276818 SUMMER PROGRAMS 17526 17526 400925 373511 27414 8174524 7170026 856073 148425 57937 40962 510405 1062476 401047 118631 117587 99705 71247 61738 36425 25327 48341 22787 20244760 10936876 9097598 9307884 931882 985557 344971 276971 11617440 12002038 515392 432663 321528 413370 350000 200633 967633 380783 141695 1768336 1955361 X 7448551 7586715 1641787 1683956 758766 776006 9849104 10046677 11617440 12002038 168744 28829 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 824961 17240 36435 878636 818021 6940 824961 7450372 38191 6670542 818021 6837031 852766 202715 36710 7450372 0.00510 0.88320 0.11170 0 0 387605 387605 13608865 7601675 6007190 2408854 2068678 340176 3839436 1266523 2572913 9307884 MUTUAL FUNDS 656846 F MANAGED PORTFOLIO 325836 F PRIVATE EQUITY 2875 F 985557 DEPOSITS HELD FOR OTHERS -135276 INTERFUND PAYABLES 276971 141695 X 7278234 28829 55826 84655 7193579 1149689 1149689 8343268 7080661 55826 55826 7024835 1149689 1149689 8174524 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: PART V, LINE 4: SCHOLARSHIP FUNDS - FOR SCHOLARSHIPS AND FACULTY ENRICHMENT. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: UNCERTAIN TAX POSITIONS: MANAGEMENT HAS EVALUATED THE EFFECT OF FINANCIAL ACCOUNTING STANDARDS BOARD GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE GUIDANCE CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS BY PRESCRIBING A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE SCHOOL'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE SCHOOL, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION TAKEN BY MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF JUNE 30, 2013, AND ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXP. NET OF FINANCIAL STATEMENT REVENUE 39,069. REAL PROPERTY RENTAL EXPENSES 16,757. PART XI, LINE 4B - OTHER ADJUSTMENTS: TUITION REMISSION EXPENSE SHOWN NET ON FINANCIALS 397,342. FINANCIAL AID EXPENSE SHOWN NET ON FINANCIALS 752,347. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXP. NET OF FINANCIAL STATEMENT REVENUE 39,069. REAL PROPERTY RENTAL EXPENSES 16,757. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION REMISSION EXPENSE SHOWN NET ON FINANCIALS 397,342. FINANCIAL AID EXPENSE SHOWN NET ON FINANCIALS 752,347. 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 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE POLICY IS DESCRIBED IN THE HANDBOOK AS WELL AS POSTED ON THE ORGANIZATION WEBSITE SEPARATELY. FIELD DAY 13800 13800 106 3514 5350 2225 WINTER GALA 144765 37020 107745 4689 2700 2000 13045 1 37576 2500 35076 5440 196141 39520 156621 106 4689 6214 7350 20710 39069 117552 1 TUITION REMISSION 50 397342 FINANCIAL AID 105 752347 FORM 990, SCHEDULE I, PART III: FINANCIAL AID IS NEED BASED AND THE EXACT AWARDS ARE DETERMINED BY THE FA COMMITTEE. FAMILIES REMIT ALL FINANCIAL INFORMATION VIA THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL SSS (SCHOOL AND STUDENT SERVICES) PROGRAM, WHICH PROVIDES THE SCHOOL WITH AN "ABILITY TO PAY" FIGURE. MAX AID AWARDED IS 85%. FINANCIAL REMISSION IS 100% FOR SENIOR STAFF, 50% FOR FT AND 25% FOR PT EMPLOYEES. SOME OLDER EMPLOYEES ARE GRANDFATHERED AT 75% WHICH WAS THE REMISSION 5+ YEARS AGO. X 1 0 X X 0 0 0 0 0 0 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. FORM 990, PART VI, SECTION B, LINE 11 THE DIRECTOR OF FINANCE, HEADMASTER, AND FINANCE COMMITTEE REVIEWS THE RETURN BEFORE IT IS 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. OVERSIGHT PROCESS: PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR.