2014-05-09T13:21:36-05:00 2013-06-30 410746749 CLIFTONLARSONALLEN LLP 610 WGERMANTOWN PIKE STE400 PLYMOUTH MEETING PA 19462 990 2012-07-01 231352662 MONTGOMERY SCHOOL MONT 6108277222 1141 KIMBERTON ROAD CHESTER SPRINGS PA 19425 ANTHONY DIFRANCESCO JR 6108277222 2014-05-06 1 BERNADETTE O'TOOLE CPA P00229258 2156433900 2012 2015-11-30 17:44:51Z ANTHONY DIFRANCESCO JR 1141 KIMBERTON ROAD CHESTER SPRINGS PA 19425 6793760 0 X WWW.MONTGOMERYSCHOOL.ORG X 1939 PA NON-PROFIT PRIVATE SCHOOL DEDICATED TO THE EDUCATION OF STUDENTS IN THE COMMUNITY. 18 18 86 50 0 0 291807 326562 5909136 5888338 26949 12099 180659 169976 6408551 6396975 1126992 1034244 0 0 3436527 3362303 0 0 210851 2152589 2212276 6716108 6608823 -307557 -211848 11825824 11025658 4824240 4214884 7001584 6810774 X PLEASE SEE SCHEDULE O.MONTGOMERY SCHOOL IS AN INDEPENDENT, COEDUCATIONAL DAY SCHOOL SERVING PREKINDERGARTEN THROUGH GRADE 8. THE SCHOOL IS DEDICATED TO THE DEVELOPMENT OF EACH CHILD IN MIND AND BODY THROUGH ACADEMICS, FINE AND PERFORMING ARTS, AND ATHLETICS. THE SCHOOL IS EQUALLY COMMITTED TO THE DEVELOPMENT OF EACH CHILD'S CHARACTER. 0 0 5398290 1034244 5835056 EDUCATION OF CHILDREN PREKINDERGARDEN THROUGH THROUGH GRADE 8. 0 0 51032 FACILITIES RENTAL PROGRAM: RENTAL OF THE FACILITIES TO COMMUNITY GROUPS FOR ATHLETICS, ARTS, AND MEETINGS. 5398290 1 1 0 0 0 0 0 0 0 1 1 0 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 0 0 0 0 0 0 0 0 0 1 24 0 86 1 0 0 0 0 0 1 1 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 PA X X MARK MURRAY 6108277222 1141 KIMBERTON ROAD CHESTER SPRINGS PA 19425 ANTHONY J DIFRANCESCO 2.00 0.00 X X 0 0 0 KATHLEEN C GUBANICH 1.00 0.00 X X 0 0 0 CHRISTOPHER M VENO 1.00 0.00 X X 0 0 0 GEORGE WM CAVALIERI 1.00 0.00 X X 0 0 0 JOAN E BEVANS 1.00 0.00 X 0 0 0 MAUREEN M FENDRICK 1.00 0.00 X 0 0 0 ANTAYA M COOPER 1.00 0.00 X 0 0 0 DANIEL GOLDSMITH 1.00 0.00 X 0 0 0 ANNE V DUGAN 1.00 0.00 X 0 0 0 BARBARA J LOMBARDO 1.00 0.00 X 0 0 0 FRANK M MASTRANGELO 1.00 0.00 X 0 0 0 REID O SMITH 1.00 0.00 X 0 0 0 KIM M MORGAN 1.00 0.00 X 0 0 0 MICHAEL T VAN DER VEEN 1.00 0.00 X 0 0 0 STEVEN S PILTCH 1.00 0.00 X 0 0 0 GEORGE B VOSBURGH 1.00 0.00 X 0 0 0 RAY A ROUNDTREE 1.00 0.00 X 0 0 0 THOMAS L WILLIAMS 1.00 0.00 X 0 0 0 KEVIN R CONKLIN 40.00 0.00 X 287021 0 17000 287021 0 17000 1 0 1 0 METZ CULINARY MANAGEMENT 2 WOODLAND DRIVE DALLAS PA 18612 FOOD SERVICES 242523 1 326562 12000 326562 TUITION 611710 5762621 5762621 EXTENDED DAY PROG. 611710 72435 72435 RENTAL FACILITY 900099 51032 51032 FEES & LUNCHES 900099 2250 2250 5888338 11097 11097 331030 330028 1002 1002 1002 194655 63492 131163 131163 2839 3265 -426 -426 MISC. REVENUE 900099 25043 25043 ATHLETIC PROGRAMS 900099 9030 9030 YEARBOOK REVENUE 900099 5166 5166 39239 6396975 5886088 0 184325 1034244 1034244 296344 296344 2553849 2391251 162598 320027 304647 15380 192083 192083 27115 27115 488778 455905 32873 42413 42413 109374 109374 110931 110931 449224 449224 94763 94763 FOOD SERVICE 255921 255921 TUITION REMISSION 228407 228407 OTHER 218313 218313 MARKETING STUDY 159181 159181 27856 27856 6608823 5398290 999682 210851 2591179 2167977 34142 29742 75985 72420 7628 5736 53946 94042 13269515 4686174 8973293 8583341 89651 72400 11825824 11025658 371055 341606 2882674 2805373 1570511 1067905 4824240 4214884 X 6946605 6713109 24492 57210 30487 40455 7001584 6810774 11825824 11025658 -211848 21038 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 30487 9968 40455 19903 10584 30487 7909 11994 19903 0.00000 1.00000 0.00000 1 0 949019 949019 11659416 4191603 7467813 661080 494571 166509 8583341 ADVANCED TUITION & DEPOSITS 1053525 LEASE PAYABLE 14380 1067905 X 6484770 66757 66757 6418013 -21038 -21038 6396975 6675580 66757 66757 6608823 0 6608823 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT FUND IS INTENDED TO SUPPORT THE FUTURE OPERATIONS OF THE SCHOOL. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: MONTGOMERY SCHOOL IS TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. IT HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(2) OF THE INTERNAL REVENUE CODE AND QUALIFIES FOR THE MAXIMUM CHARITABLE CONTRIBUTION DEDUCTION FOR INDIVIDUAL DONORS. THE SCHOOL FOLLOWS THE GUIDANCE IN THE INCOME TAX STANDARD REGARDING RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE GUIDANCE CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. THE GUIDANCE FURTHER PRESCRIBES RECOGNITION AND MEASUREMENT OF TAX PROVISIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE APPLICATION OF THIS STANDARD HAS NO IMPACT ON THE SCHOOL'S FINANCIAL STATEMENTS. THE SCHOOL'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AUTHORITIES. THE SCHOOL IS NOT AWARE OF ANY ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME OR EXCISE OR OTHER TAXES. THE TAX RETURNS FOR THE YEARS 2010 TO 2012 ARE OPEN TO EXAMINATION BY FEDERAL AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOOL STORE EXPENSE (PRESENTED AGAINST SCHOOL STORE REVENUE) 3,265. SPECIAL EVENTS - FUNDRAISING EXPENSES 63,492. PART XI, LINE 4B - OTHER ADJUSTMENTS: NET UNREALIZED GAINS ON INVESTMENTS -21,038. PART XII, LINE 2D - OTHER ADJUSTMENTS: SCHOOL STORE EXPENSE 3,265. SPECIAL EVENTS - FUNDRAISING EXPENSES 63,492. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 THE SCHOOL JOINS WITH A GROUP OF INDEPENDENT SCHOOLS AND ADVERTISES A "STATEMENT OF NONDISCRIMINATION" IN THE PHILADELPHIA INQUIRER. ADDITIONALLY IT STATES THAT IT DOES NOT DISCRIMINATE IN ITS PRINTED MATERIALS AND ON ITS WEBSITE A "STATEMENT OF NONDISCRIMINATION" APPEARS ON THE APPLICATION FOR ENROLLMENT. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE STATE OF PENNSYLVANIA DEPARTMENT OF EDUCATION PROVIDES APPROXIMATELY $30,000 IN TEXT BOOKS, INSTRUCTIONAL MATERIALS AND SPECIFIC EQUIPMENT. BENEFIT 159610 0 159610 6000 17288 650 21998 GOLF OUTING 35045 0 35045 500 950 5755 4518 5833 194655 194655 500 950 11755 21806 650 27831 63492 131163 1 FINANCIAL AID 75 1034244 FMV PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANTS FOR FINANCIAL AID ARE MADE BY A FINANCIAL COMMITTEE AND ARE BASED ON ADMISSION OF THE STUDENT AND FINANCIAL NEED. APPLICANTS ARE REQUIRED TO PROVIDE FINANCIAL INFORMATION IN THE FORM OF A QUESTIONNAIRE ADMINISTERED BY A THIRD PARTY, FAST, AND THE PROVISION OF TAX RETURNS. X X X X X 0 1 0 0 0 0 0 0 0 KEVIN R CONKLIN 245506 0 0 0 41515 0 17000 0 0 0 304021 0 0 0 PART I, LINE 4B A $17,000 CONTRIBUTION WAS MADE TO KEVIN CONKLIN'S 457(B) PLAN IN 2012. A CENTRAL AND WESTERN CHESTER COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232667137 2010-12-23 3000000 REFUNDING OF THE ISSUER'S ECONOMIC DEVELOPMENT REVENUE BONDS 0 0 0 A 194627 3000000 2750597 60000 189403 2011 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0 0 1 A 1 0 0 0 0 1 A 1 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE BOARD CHAIR AND SUCH TRUSTEES AS THE CHAIR MAY SPECIFY, WHO MAY OR MAY NOT BE OFFICERS OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTE SHALL MAKE RECOMMENDATIONS TO THE BOARD IN REGARD TO PROBLEMS OR CONCERNS OF THE SCHOOL, AND SHALL BE EMPOWERED TO ACT ON BEHALF OF THE TRUSTEES BETWEEN MEETINGS OF THE BOARD OF TRUSTEES, SUBJECT TO SUBSEQUENT RATIFICATION BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 11 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES WILL REVIEW THE 990 IN DETAIL. THEY WILL THEN DISTRIBUTE IT TO THE FULL BOARD OF TRUSTEES AND BE PREPARED TO ANSWER QUESTIONS. THIS REVIEW WILL BE CONDUCTED PRIOR TO FILING THE 990 RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE TRUSTEES SHALL EXERCISE THE UTMOST GOOD FAITH IN ALL TRANSACTIONS TOUCHING UPON THEIR DUTIES TO THE ORGANIZATION AND ITS PROPERTY. IN THEIR DEALINGS WITH AND ON BEHALF OF THE SCHOOL, THEY ARE HELD TO STRICT RULES OF HONEST AND FAIR DEALING BETWEEN THEMSELVES AND THE SCHOOL. THEY SHALL NOT USE THEIR POSITIONS AS TRUSTEES, OR KNOWLEDGE GAINED THERE FROM, SO THAT A CONFLICT MIGHT ARISE BETWEEN THE SCHOOL'S INTEREST AND THAT OF ANY INDIVIDUAL TRUSTEE. A CONFLICT OF INTEREST ARISES IN ANY SITUATION IN WHICH A TRUSTEE (AND/OR HIS OR HER IMMEDIATE FAMILY) IS INVOLVED IN AN ACTIVITY WHICH COULD ADVERSELY AFFECT HIS OR HER JUDGMENT WITH RESPECT TO THE BUSINESS OF THE SCHOOL OR OTHERWISE DIMINISH THE INTEREST OR THE ORGANIZATION. WHEN SUCH A CONFLICT ARISES, THE INDIVIDUAL WITH THE CONFLICT IS EXPECTED TO DISCLOSE IN WRITING THE EXISTENCE OF THE CONFLICT. IF A CONFLICT OF INTEREST SHALL ARISE, A BOARD MEMBER WILL BE PROHIBITED FROM VOTING ON ANY BOARD MATTERS. FORM 990, PART VI, SECTION B, LINE 15 THE TOP MANAGEMENT OFFICIAL'S COMPENSATION WAS LAST REVIEWED IN DETAIL IN DECEMBER 2009. THE SCHOOL ENGAGED AN INDEPENDENT CONSULTANT TO CONDUCT A REVIEW AND BENCHMARKING AGAINST OTHER SIMILAR SCHOOLS. OTHER KEY EMPLOYEES SALARIES ARE DETERMINED USING DATA PROVIDED BY THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS FOR LIKE POSITIONS. THIS PROCESS IS FOLLOWED ON AN ANNUAL BASIS. 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. DESCRIPTION OF CHANGE IN OVERSIGHT OR SELECTION PROCESS FORM 990 PART XI, LINE 2C THE PROCESS FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR.