2014-04-29T13:51:08-05:00 2013-06-30 621199757 LATTIMORE BLACK MORGAN & CAIN PC PO BOX 1869 BRENTWOOD TN 370241869 990 2012-07-01 237424429 UNIVERSITY SCHOOL OF NASHVILLE UNIV 6153218000 2000 EDGEHILL AVENUE NASHVILLE TN 372122198 VINCENT DURNAN JR 6153218000 2014-04-29 1 JULIE BARTLETT P00742923 6153774600 2014-04-29 2012 2015-11-30 17:44:51Z VINCENT DURNAN JR 2000 EDGEHILL AVENUE NASHVILLE TN 372122198 25075386 0 X WWW.USN.ORG X 1975 TN UNIVERSITY SCHOOL OF NASHVILLE MODELS THE BEST EDUCATIONAL PRACTICES IN AN ENVIRONMENT THAT REPRESENTS THE CULTURAL AND ETHNIC COMPOSITION OF GREATER NASHVILLE, USN FOSTERS EACH STUDENT'S INTELLECT, ARTISTIC AND ATHLETIC POTENTIAL, VALUING AND INSPIRING INTEGRITY, CREATIVE EXPRESSION, A LOVE OF LEARNING, AND THE PURSUIT OF EXCELLENCE. 26 26 388 1000 0 0 1443841 1973646 19529685 20743414 272970 373794 138931 240558 21385427 23331412 1986397 2323166 0 0 13341799 14134151 0 0 914632 5503001 5875956 20831197 22333273 554230 998139 37218183 38343425 5183522 4382701 32034661 33960724 X UNIVERSITY SCHOOL OF NASHVILLE MODELS THE BEST EDUCATIONAL PRACTICES IN AN ENVIRONMENT THAT REPRESENTS THE CULTURAL AND ETHNIC COMPOSITION OF GREATER NASHVILLE, USN FOSTERS EACH STUDENT'S INTELLECT, ARTISTIC AND ATHLETIC POTENTIAL, VALUING AND INSPIRING INTEGRITY, CREATIVE EXPRESSION, A LOVE OF LEARNING, AND THE PURSUIT OF EXCELLENCE. 0 0 19218530 2323166 20782013 OPERATION OF UNIVERSITY SCHOOL OF NASHVILLE SERVING AN ESTIMATED 1049 STUDENTS. 19218530 1 1 0 0 0 0 0 0 1 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 0 0 0 0 1 52 0 1 388 1 0 0 0 0 0 0 0 0 0 0 0 0 X 26 26 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 0 0 X X NORMA MILLER 6153218004 2000 EDGEHILL AVENUE NASHVILLE TN 372122198 GRACE H AWH 1.50 X 0 0 0 ANN CARGILE 1.50 X 0 0 0 CHARLENE DEWEY 1.50 X 0 0 0 BURGIN DOSSETT 1.50 X 0 0 0 ELISABETH DYKENS 1.50 X 0 0 0 TORY FITZGIBBON 1.50 X 0 0 0 DAVID FOX 1.50 X 0 0 0 BOB GORDON 1.50 X 0 0 0 EDDIE HAMILTON 1.50 X 0 0 0 JOHN HASSENFELD 1.50 X 0 0 0 TERRI KASSELBERG 1.50 X 0 0 0 DAVID KLOEPPEL 2.00 X X 0 0 0 KEVIN LAVENDER 1.50 X 0 0 0 KELLY A LINTON 1.50 X 0 0 0 BERT MATHEWS 1.50 X 0 0 0 ANDREW MAY 1.50 X 0 0 0 RICHARD C MCCARTY 1.50 X 0 0 0 SEEMA MEHROTRA 1.50 X 0 0 0 FIONA PRINE 2.00 X X 0 0 0 GERALD RISK 1.50 X 0 0 0 IVANETTA DAVIS SAMUELS 1.50 X 0 0 0 JON SHAYNE 1.50 X 0 0 0 BRETT SWEET 2.00 X X 0 0 0 IRWIN VENICK 1.50 X 0 0 0 GAIL WILLIAMS 2.50 X X 0 0 0 LINDE WILSON 1.50 X 0 0 0 VINCENT W DURNAN JR 65.00 X 296529 0 37478 JULIET C DOUGLAS 45.00 X 147424 0 31015 JEFFREY A GREENFIELD 45.00 X 124303 0 14022 STEVEN E ROBINS 45.00 X 123514 0 14007 TERESA STANDARD 45.00 X 125968 0 14169 SUSAN R TOUCHSTONE 45.00 X 124500 0 13369 ANNE M WESTFALL 45.00 X 107158 0 12890 1049396 0 136950 7 0 1 0 SAGE DINING SERVICE INC 1402 YORK ROAD SUITE 100 LUTHERVILLE MD 21093 CAFETERIA MANAGEMENT 446551 MANUEL ZEITLIN ARCHITECTS 516 HAGAN STREET SUITE 100 NASHVILLE TN 37203 ARCHITECT FEES 271631 CROSS GATE SERVICE INC 1730 GEN GEORGE PATTON DR BRENTWOOD TN 37027 JANITORIAL SERVICES 251107 COMPETITION ATHLETIC SURFACES INC 3205 N HAWTHORNE ST CHATTANOOGA TN 37406 ATHLETIC TRACK SURFACE 130226 JEWELL MECHANICAL 1000 ELM HILL PIKE NASHVILLE TN 37120 HVAC SERVICES 125384 5 1973646 1973646 STUDENT TUITION & FEES 611710 19505144 19505144 AFTER SCHOOL PROGRAM 611710 521321 521321 CAFETERIA INCOME 611710 406151 406151 SUMMER PROGRAM 611710 284016 284016 ANCILLARY PROGRAMS 611710 26782 26782 20743414 325280 325280 5191 250 0 0 5191 250 5441 5441 1218553 1170039 48514 48514 48514 444849 273926 170923 170923 325604 300009 25595 25595 BUSINESS OFFICE 611710 38599 38599 38599 23331412 20782013 0 575753 2323166 2323166 343741 343741 11358410 9716766 1080392 561252 456916 388171 47056 21689 854108 720936 91086 42086 1120976 918481 148090 54405 300704 244949 55755 984 984 26450 26450 77184 77184 377292 260311 72166 44815 11202 6744 4458 1416896 1272824 64542 79530 220572 193591 8867 18114 1078238 1001868 76370 111234 101969 5751 3514 129414 113747 9373 6294 1573493 1573493 88581 88581 OPERATING EXPENSES 170466 69319 98987 2160 SPECIAL EVENTS/ENTERTAI 132956 85488 22450 25018 STUDENT ACTIVITIES 105693 105693 0 0 DISCRETIONARY 54597 43830 10767 0 22333273 19218530 2200111 914632 3359516 3255173 589670 461895 124366 123000 12374 12131 38569244 18460330 20630614 20108914 12136785 13971241 364858 411071 37218183 38343425 1596329 1722303 544463 459612 2760000 1965000 282730 235786 5183522 4382701 X 23078473 23980196 1677460 2178969 7278728 7801559 32034661 33960724 37218183 38343425 X 998139 927930 -6 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 9494910 1170403 902742 680407 10887648 9628467 215024 -17581 331000 9494910 7999824 526503 1424514 322374 9628467 7174423 302078 798323 275000 7999824 8622514 85374 -1180408 353057 7174423 0.14300 0.71700 0.14000 0 0 2814767 2814767 29666166 13957608 15708558 5810490 4502722 1307768 277821 277821 20108914 US AND INTERNATIONAL EQUITIES 6606345 F BONDS AND FIXED INCOME FUNDS 1668079 F MUTUAL FUNDS 3199250 F CASH AND CASH EQUIVALENTS 2221917 F PRIVATE EQUITY FUNDS 185300 F HEDGE FUNDS 13853 F CASH VALUE OF LIFE INSURANCE 76497 F 13971241 ENROLLMENT DEPOSITS 112840 OBLIGATION UNDER INTEREST RATE SWAP 122946 235786 X 22432927 927930 573935 1501865 20931062 77184 2323166 2400350 23331412 20506864 573941 573941 19932923 77184 2323166 2400350 22333273 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE SCHOOL'S ENDOWMENT CONSISTS OF DONOR RESTRICTED AND BOARD DESIGNATED QUASI-ENDOWMENT FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. QUASI-ENDOWMENT CONSISTS OF UNRESTRICTED NET ASSETS DESIGNATED FOR FUTURE PURPOSES. THIS PORTION OF UNRESTRICTED NET ASSETS MAY BE EXPENDED AS AUTHORIZED BY THE BOARD OF TRUSTEES INVESTMENT AND SPENDING POLICY OR BY BOARD ACTION. CONTRIBUTIONS TO THE TEMPORARILY RESTRICTED FUND ARE RESTRICTED BY THE DONOR FOR A SPECIFIC PURPOSE. ALSO INCLUDED ARE THE PERMANENTLY RESTRICTED ENDOWMENT MARKET GAINS AND LOSSES RESULTING FROM THE INVESTMENT OF PERMANENTLY RESTRICTED NET ASSETS. THIS PORTION OF TEMPORARILY RESTRICTED NET ASSETS MAY BE EXPENDED AS AUTHORIZED BY THE BOARD OF TRUSTEES INVESTMENT AND SPENDING POLICY FOR THE PURPOSE STIPULATED BY THE DONOR. THE PERMANENTLY RESTRICTED ENDOWMENT FUND INCLUDES NET ASSETS SUBJECT TO DONOR IMPOSED STIPULATIONS THAT THEY BE MAINTAINED PERMANENTLY BY THE SCHOOL. GENERALLY, THE DONORS OF THESE ASSETS PERMIT THE SCHOOL TO USE ALL OR PART OF THE INCOME EARNED ON RELATED INVESTMENTS FOR GENERAL OR SPECIFIC PURPOSES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(3). ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS. A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE AMOUNT OF TAX BENEFIT 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. AS OF JUNE 30, 2013 AND 2012, THE SCHOOL HAS ACCRUED NO INTEREST AND NO PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. IT IS THE SCHOOLS POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. THE SCHOOL FILES A U.S. FEDERAL INFORMATION TAX RETURN. THE SCHOOL IS CURRENTLY OPEN TO AUDIT UNDER THE STATUTE OF LIMITATIONS BY THE INTERNAL REVENUE SERVICE FOR THE FISCAL YEARS ENDED AFTER JUNE 30, 2009. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED WITH REVENUE ON TAX RETURN 273,926. BOOKSTORE COGS NETTED WITH REVENUE ON TAX RETURN 300,009. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH TUITION ON FINANCIALS 2,323,166. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED WITH REVENUE ON TAX RETURN 273,926. BOOKSTORE COGS NETTED WITH REVENUE ON TAX RETURN 300,009. ROUNDING 6. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH TUITION ON FINANCIALS 2,323,166. 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 SCHOOL'S NON-DISCRIMINATORY POLICY IS PRINTED IN BROCHURES, VIEWBOOKS, OPEN HOUSE ADS, AND ALL OTHER PRINTED MATERIAL AVAILABLE TO THE PUBLIC. ARTCLECTIC 218132 218132 4473 235 172626 EVENING CLASSES 71930 71930 516 32548 13 154787 154787 5578 1071 56879 444849 444849 4473 6329 1071 262053 273926 170923 1 FINANCIAL AID 210 2323166 OTHER CREDIT TO RECIPIENTS TUITION BILL SCHEDULE I, PART I, LINE 2: FINANCIAL AID IS AWARDED BASED UPON FINANCIAL NEED OF THE RECIPIENT'S FAMILY. FINANCIAL INFORMATION AND SUGGESTED FINANCIAL NEED OF THE RECIPIENT'S PARENT(S) OR GUARDIAN(S) IS PROVIDED TO THE SCHOOL BY AN INDEPENDENT THIRD PARTY. X X 1 1 X X 0 0 0 0 0 0 0 0 0 VINCENT W DURNAN JR 296529 0 0 0 0 0 29500 0 7978 0 334007 0 0 0 JULIET C DOUGLAS 147424 0 0 0 0 0 23660 0 7355 0 178439 0 0 0 A INDUSTRIAL DEVELOPMENT BOARD OF THE METROPOLITIAN GOV'T OF NASHVILLE 521789764 592106AB4 2002-08-01 8000000 TO FINANCE IMPROVEMENTS TO THE CAMPUS LOCATED IN NASHVILLE, TN. 0 0 0 A 0 0 0 0 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 X 17 120924 FMV - DATE OF GIFT 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 CHARLENE DEWEY, RICHARD C. MCCARTY, ELISABETH DYKENS, BRETT SWEET AND GAIL WILLIAMS ARE EMPLOYED BY THE SAME UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 11 A DRAFT OF FORM 990 IS REVIEWED FIRST BY MEMBERS OF THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. AFTER THE FINANCE COMMITTEE REVIEWS AND MAKES ANY CHANGES NECESSARY, A REVISED DRAFT IS SENT TO EACH VOTING MEMBER OF THE BOARD OF TRUSTEES. ANY BOARD MEMBER COULD RECOMMEND CHANGES. THE FINAL COPY IS THEN SIGNED BY THE DIRECTOR OF THE SCHOOL AND PAID PREPARER AND ELECTRONICALLY FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE SCHOOL'S BOARD, ADMINISTRATION, FACULTY, STAFF AND COMMITTEES (AN "INDIVIDUAL") MUST AVOID INCURRING ANY KIND OF UNDISCLOSED FINANCIAL OR PERSONAL OBLIGATION THAT MIGHT REASONABLY BE EXPECTED TO AFFECT THE INDIVIDUAL'S JUDGMENT IN DEALING WITH OTHER PARTIES ON BEHALF OF THE SCHOOL. IF THERE IS ANY APPEARANCE OF CONFLICT OF INTEREST, EVEN THOUGH THE CONFLICT MAY NOT EXIST IN ACTUALITY, THE INDIVIDUAL SHOULD DISCLOSE THE PARTICULAR SITUATION IN WRITING TO THE DIRECTOR OF THE SCHOOL. IF THE MATTER INVOLVES A MEMBER OF THE BOARD OR A MEMBER OF A BOARD COMMITTEE (A "BOARD INDIVIDUAL"), THE DIRECTOR WILL IN TURN INFORM THE EXECUTIVE COMMITTEE OF THE BOARD. THE DIRECTOR SHALL REVIEW A COPY OF THIS POLICY ANNUALLY AND MAKE ANY RELEVANT DISCLOSURES AT THAT TIME OR AT THE TIME ANY POTENTIAL CONFLICT ARISES IN THE FUTURE. A SIGNED DISCLOSURE IS GIVEN TO THE DIRECTOR AND FOR A BOARD "INDIVIDUAL" THIS DISCLOSURE IS RETAINED ON FILE WITH OTHER BOARD MATERIALS IN THE DIRECTOR'S OFFICE. EACH EMPLOYEE SHALL ALSO ANNUALLY REVIEW THIS POLICY AND MAKE ANY RELEVANT DISCLOSURES AT THAT TIME OR AT THE TIME ANY POTENTIAL CONFLICT ARISES IN THE FUTURE. THESE DISCLOSURE DOCUMENTS ARE GIVEN TO THE DIRECTOR AND RETAINED ON FILE IN THE DIRECTOR'S OFFICE. FORM 990, PART VI, SECTION B, LINE 15A THE KEY EMPLOYEE (DIRECTOR) DRAFTS AN ANNUAL LETTER OF AGREEMENT (MEMORANDUM OF UNDERSTANDING) IN THE EARLY FALL OF THE CURRENT ACADEMIC YEAR AS WELL AS FISCAL YEAR OUTLINING HIS GOALS AND OBJECTIVES FOR THAT YEAR. THIS AGREEMENT IS SIGNED BY THE KEY EMPLOYEE AND THE PRESIDENT OF THE BOARD OF TRUSTEES. BEFORE THE CLOSE OF THE CURRENT ACADEMIC AND FISCAL YEAR, THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES GOES INTO CLOSED SESSION AND DISCUSSES THE PROGRESS MADE ON THE DIRECTOR'S GOALS AND OBJECTIVES AS OUTLINED IN THE EARLY FALL. SUBSEQUENTLY, THE BOARD PRESIDENT, VICE PRESIDENT, AND PAST PRESIDENT OF THE BOARD OF TRUSTEES MEET AND WITH THE FEEDBACK OBTAINED FROM THE EXECUTIVE COMMITTEE MEETING DRAFT THE COMPENSATION AGREEMENT FOR THE DIRECTOR FOR THE UPCOMING ACADEMIC AND FISCAL YEAR. THE PRESIDENT OF THE BOARD INFORMS THE KEY EMPLOYEE AS WELL AS THE FINANCIAL OFFICE OF THE SCHOOL OF THE AMOUNT OF COMPENSATION PACKAGE WHICH COULD INCLUDE ANNUAL COMPENSATION, BONUS AND/OR PAYMENT OF DEFERRED COMPENSATION UNDER SECTION 457 OF THE IRS CODE. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOLS BY-LAWS ARE INCLUDED IN EACH EMPLOYEE'S PERSONNEL MANUAL. THE CONFLICT OF INTEREST SIGNED DISCLOSURE FORMS FOR BOTH MEMBERS OF THE BOARD OF TRUSTEES AND ITS COMMITTEES AS WELL AS EMPLOYEES ARE MAINTAINED IN THE DIRECTOR'S OFFICE. THESE ARE AVAILABLE UPON REQUEST. INTERNAL FINANCIAL STATEMENTS OF THE SCHOOL ARE REGULARLY REVIEWED BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES AS WELL AS THE BOARD OF TRUSTEES AT ITS MEETINGS. AUDITED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ARE REVIEWED BY THE FINANCE COMMITTEE OF THE BOARD AS WELL AS THE BOARD OF TRUSTEES AT ONE OF ITS REGULARLY SCHEDULED MEETINGS. THESE HAVE BEEN PRESENTED TO THE FINANCE COMMITTEE IN DRAFT FORM BY THE AUDIT FIRM CHOSEN TO CONDUCT THE ANNUAL AUDIT PRIOR TO THE FINAL PRESENTATION TO THE BOARD OF DIRECTORS AT ITS MEETING. ANY OF THE SCHOOL'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY DOCUMENTS, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: ROUNDING -6. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.