2014-05-13T11:21:07-05:00 2013-06-30 621736974 DEMPSEY VANTREASE & FOLLIS PLLC 630 S CHURCH ST STE 300 MURFREESBORO TN 37130 990 2012-07-01 620401875 THE WEBB SCHOOL WEBB 9313899322 PO BOX 488 BELL BUCKLE TN 37020 JOE IORIO 6153899322 2014-05-13 1 MARK E FOLLIS CPA P01283359 6158936666 2014-05-13 X 2012 2015-11-30 17:44:51Z JOE IORIO 319 WEBB ROAD EAST BELL BUCKLE TN 37020 17147109 0 X WWW.THEWEBBSCHOOL.COM X 1921 TN EDUCATION GRADES 6-12 22 22 143 0 -18744 -32271 2874102 1103253 7283806 7505046 1724397 1863161 131837 138825 12014142 10610285 1223050 1427877 0 0 4723640 4976832 0 1001 546704 2701757 2877548 8648447 9283258 3365695 1327027 35972836 38207890 2285214 2915474 33687622 35292416 EDUCATION; GRADES 6-12 0 0 6815662 1427877 7183543 EDUCATIONAL ACTIVITIES: TEACHERS SALARIES & BENEFITS, SUPPLIES, LIBRARY BOOKS & PERIODICALS, CONTINUING EDUCATION OF STAFF, STUDENT ACTIVITIES, FINANCIAL AID, FOOD SERVICE AND PHYSICAL EDUCATION & ATHLETICS FOR 300 STUDENTS 6815662 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 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 49 0 143 1 1 1 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JOE IORIO 9313899322 319 HWY 82 BELL BUCKLE TN 370200488 GEORGE PINE III 2.00 X X 0 0 0 HUNTER WELLES 0.50 X 0 0 0 S NORFLEET ANTHONY JR 0.20 X 0 0 0 AMY ROGERS 0.50 X 0 0 0 GLENN JONES 0.50 X 0 0 0 GEORGE B HUDDLESTON SR 0.50 X 0 0 0 HUGH BYRD 0.20 X 0 0 0 LEWIS BRANSCOMB 0.20 X 0 0 0 EUGENIA H CAMMACK 0.20 X 0 0 0 LEE WOOSLEY 0.50 X 0 0 0 DREW CARRINGTON 0.50 X 0 0 0 ED DAVIES 0.20 X 0 0 0 ROBERT F THOMPSON 0.50 X 0 0 0 HUGH ELDREDGE 0.20 X 0 0 0 R WALTER HALE III 0.20 X 0 0 0 DAVID LAROCHE 0.50 X 0 0 0 JENNY HUNT 0.50 X 0 0 0 STEVEN GRAHAM 0.50 X 0 0 0 THOMAS LISENBY 0.20 X 0 0 0 JAMES MCDONNELL 0.20 X 0 0 0 PAUL JENNINGS 0.50 X 0 0 0 FORREST SHOAF 0.50 X 0 0 0 J GARNER MOORE III 0.20 X 0 0 0 MARY MOSS 0.50 X 0 0 0 SMITH MURPHEY IV 0.20 X 0 0 0 MATTHIAS MURFREE 0.50 X 0 0 0 WAYNE ROGERS JR 0.50 X 0 0 0 JOHN SAWYER 0.50 X 0 0 0 WILSON SIMS SR 0.20 X 0 0 0 FRED SINGER 0.20 X 0 0 0 CHARLES ALEXANDER 0.50 X 0 0 0 CHARLES STEPHENS 0.20 X 0 0 0 R BLAIR STEPHENS 0.20 X 0 0 0 ANN SHORT 0.50 X 0 0 0 PAUL STUMB III 0.20 X 0 0 0 ADRIENNE UNDERHILL 0.20 X 0 0 0 RUSKIN VEST JR 0.50 X 0 0 0 PHILLIP COOP 0.50 X 0 0 0 WILLIAM H HUDDLESTON IV 0.50 X 0 0 0 JOE IORIO 45.00 X 115235 0 18821 RAYMOND S BROADHEAD 50.00 X 203275 0 40452 CLAUDIA HAZELWOOD 40.00 X 102084 0 12350 420594 0 71623 3 0 1 0 SAGE DINING 1402 YORK RD STE 100 LUTHERVILLE MD 21093 FOOD SERVICE 487532 1 1103253 1103253 TUITION AND FEES 611600 7505046 7505046 7505046 360983 -37308 398291 65841 65841 8039002 6160901 375923 1878101 -375923 1502178 -375923 1878101 SUMMER SCHOOL AND CAMPS 611600 39316 20752 18564 MISCELLANEOUS INCOME 611600 33668 33668 72984 10610285 7183543 -18744 2342233 1427877 1427877 405356 405356 3631586 2674849 613161 343576 167910 120118 34553 13239 489295 349087 96618 43590 282685 189325 67441 25919 29776 29776 27075 27075 1001 1001 79526 79526 8320 8320 77251 77251 259520 146126 52236 61158 20345 20345 607435 549775 49093 8567 212817 123052 66998 22767 72083 69862 2221 666685 568361 90700 7624 85301 72728 11601 972 FOOD FOR CAFETERIA 238941 238941 BAD DEBTS 161915 161915 STUDENT SPORTS 102878 102878 STUDENT ACTIVITIES 100326 100326 127354 62012 49272 16070 9283258 6815662 1920892 546704 2020093 3111490 1596199 1124140 165851 57600 64857 55158 72700 97870 19469692 11037297 8378574 8432395 15698360 13081551 7976202 12247686 35972836 38207890 389119 688702 753288 652753 850506 1458511 138172 0 154129 115508 2285214 2915474 X 12674914 13413546 9288710 9788956 11723998 12089914 33687622 35292416 35972836 38207890 X 1327027 216442 61325 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 23674561 342552 2439686 120632 1006930 25329237 23928214 98223 770432 2836 1119472 23674561 21725848 57511 3341829 302549 894425 23928214 20617075 105023 2308230 210774 1093706 21725848 24013463 184436 -2280969 204001 1095854 20617075 0.22000 0.47000 0.31000 1 0 106884 106884 17165862 9166420 7999442 1744596 1502357 242239 452350 368520 83830 8432395 INVESTMENT FUND- MONEY MARKET 774475 F LIMITED PARTNERSHIPS 11473211 F 12247686 DEPOSITS AND OTHER LIABILITIES 115508 115508 X 9319324 216442 216442 9102882 79526 1427877 1507403 10610285 7775855 0 7775855 79526 1427877 1507403 9283258 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE SCHOOLS ENDOWMENT FUND IS USED TO HELP SUPPORT THE OPERATIONS OF THE SCHOOL. IT IS SUBJECT TO A POLICY WHEREBY THE ANNUAL WITHDRAWAL FROM THE FUND IS CAPPED AT 5% CALCULATED ON A ROLLING THREE YEAR AVERAGE. ANNUAL WITHDRAWALS EACH YEAR CANNOT EXCEED 6% OF PREVIOUS YEAR END MARKET VALUE. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE SCHOOL IS A TAX EXEMPT INSTITUTION UNDER IRC 501C3 AND ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE SCHOOL ACCOUNTS FOR UNCERTAINTIES IN INCOME TAX LAW UNDER FASB ASC 740-10 WHICH PRESCRIBES A COMPREHENSIVE MODEL FOR THE FINANCIAL STATEMENT RECOGNITION, MEASUREMENT, PRESENTATION AND DISCLOSURE OF UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN INCOME TAX RETURNS. ASC 740-10 REQUIRES THAT THE TAX EFFECTS OF A POSITION BE RECOGNIZED ONLY IF IT IS "MORE LIKELY THAN NOT" TO BE SUSTAINED BY THE TAXING AUTHORITY AS OF THE REPORTING DATE. IF THE TAX POSITION IS NOT CONSIDERED "MORE LIKELY THAN NOT" TO BE SUSTAINED, THEN NO BENEFITS OF THE POSITION ARE TO BE RECOGNIZED. THE SCHOOL HAS NO UNRECOGNIZED TAX BENEFITS FOR ANY OF THE PERIODS PRESENTED. TO THE EXTENT APPLICABLE IN THE FUTURE, INTEREST AND PENALTIES RELATED TO INCOME TAX LIABILITIES WILL BE INCLUDED IN PRETAX INCOME AS INTEREST EXPENSE AND TAX PENALTIES. AT JUNE 30, 2013, THE SCHOOLS TAX RETURNS RELATED TO FISCAL YEARS ENDED JUNE 30, 2010 TO 2013 REMAIN OPEN TO EXAMINATION BY THE TAX AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID/SCHOLARSHIPS 1,427,877. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID/SCHOLARSHIPS 1,427,877. 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 PUBLISHES THE NONDISCRIMINATION POLICY IN THE LOCAL NEWSPAPER IN THE FALL EACH YEAR AND IN THE SCHOOL PUBLICATIONS 1 FINANCIAL AID TO STUDENTS ATTENDING WEBB SCHOOL 135 1427877 STUDENT FINANCIAL AID PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE SCHOOL IS COMMITTED TO PROVIDING FINANCIAL AID TO STUDENTS WHO WOULD OTHERWISE BE UNABLE TO ATTEND THE SCHOOL. THE COMPLETION OF THE FINANCIAL AID APPLICATION DOES NOT HAVE ANY BEARING UPON WHETHER THE STUDENT IS ADMITTED TO THE SCHOOL. THE SCHOOL DETERMINES A FAMILY'S CONTRIBUTION BASED UPON THE EVALUATION COMPLETED BY THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID, AN UNAFFILIATED ENTITY IN NEW JERSEY WHO PERFORMS SIMILAR SERVICES FOR OTHER SCHOOLS THROUGHOUT THE COUNTRY. FINANCIAL AID FORMS MUST BE COMPLETED EACH YEAR BY THE STUDENT AND MONITORED BY THE SCHOOL TO REEVALUATE THE AMOUNT OF THE FINANCIAL AID. X X X X 0 1 X X X X 0 1 0 0 0 0 0 1 0 RAYMOND S BROADHEAD 193275 0 10000 0 0 0 19845 0 20607 0 243727 0 0 0 PART I, LINE 1A WEBB SCHOOL PROVIDES A RESIDENCE ON CAMPUS FOR ITS HEADMASTER. IT IS A CONDITION OF EMPLOYMENT AND SINCE WEBB IS A BOARDING SCHOOL, IT IS DEEMED NECESSARY FOR THE HEADMASTER TO REMAIN ON CAMPUS TO HELP OVERSEE STUDENT ACTIVITIES. THE SCHOOL PROVIDES A DISCRETIONARY SPENDING ACCOUNT OF UP TO $5,000 FOR THE HEADMASTER. DURING THE CURRENT YEAR $2,597 WAS SPENT FROM THIS ACCOUNT. THE SCHOOL PAYS FOR THE SPOUSE OF THE HEADMASTER TO ACCOMPANY HIM ON BUSINESS TRAVEL. THE SPOUSE IS ALSO A TEACHER AT THE SCHOOL AND IS ABLE TO PROVIDE ASSISTANCE TO THE HEADMASTER IN REPRESENTING THE SCHOOL. THE SCHOOLS PAYS DUES TO A SOCIAL CLUB OF $115 A MONTH FOR THE HEADMASTER TO ALLOW HIM TO TAKE PARENTS, BOARD MEMBERS AND THE LIKE FOR LUNCH OR DINNER TO DISCUSS BUSINESS MATTERS OF THE SCHOOL. PART I, LINE 1B AS EXPLAINED ABOVE THE USE OF A RESIDENCE ON CAMPUS BY THE HEADMASTER IS REQUIRED AS A CONDITION OF EMPLOYMENT. THIS ARRANGEMENT IS APPROVED BY THE BOARD OF DIRECTORS. PART I, LINE 4B PART 1, LINE 4B: RAYMOND BROADHEAD, THE SCHOOL HEADMASTER, IS PROVIDED A NON QUALIFIED SUPPLEMENT RETIREMENT BENEFIT THAT HE IS ENTITLED TO RECEIVE UPON RETIREMENT IF HE MEETS CERTAIN CONDITIONS. THE AMOUNT ACCRUED FOR THE PLAN FOR YE 6/30/13 WAS $10,395 PART I, LINE 7 THE HEADMASTER RECEIVED A DISCRETIONARY BONUS APPROVED BY THE BOARD OF DIRECTORS. A INDUSTRIAL DEVELOPMENT BOARD OF CITY OF SHELBYVILLE TENNESSEE 521393194 2012-10-15 5000000 REFINANCE EXISTING DEBT AND NEW CONSTRUCTION 0 1 0 A 1458511 26385 611126 821000 1 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 1 1 0 1 1 SUNTRUST BANK 10.000000000000 0 0 0 0 0 A 1 PAGE 1, PART II, LINE 3 AND LINE 11 AS OF JUNE 30, 2013, ONLY $1,458,511 OF BOND HAS BEEN DRAWN FOR DEBT REFINANCING AND CAPITAL PROJECTS. LINE 11 INCLUDES PROCEEDS USED TO RETIRE OLD BONDS(1999 ISSUE). FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE FORM 990 WAS EMAILED TO THE BOARD OF DIRECTORS PRIOR TO FILING AND THEN WERE GIVEN A CHANCE TO ASK QUESTIONS OR MAKE ANY COMMENTS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD CHAIR, BUSINESS MANAGER AND HEADMASTER WORK CLOSELY ENOUGH THROUGHOUT THE YEAR TO MONITOR ACTIVITIES OF BOARD MEMBERS TO INSURE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL REVIEWS NAIS DATA AND FORM 990S OF OTHER SIMILIAR SCHOOLS WHEN IT DETERMINES COMPENSATION FOR KEY EMPLOYEES AND TOP SCHOOL OFFICIALS WHICH IS APPROVED BY THE EXECUTIVE COMMITTEE OF THE GOVERNING BOARD. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE GENERAL PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 24,556. CHANGE IN VALUE OF INTEREST RATE SWAP 36,769.