2014-05-14T12:37:33-05:00 2013-06-30 WITHUM SMITH BROWN PC 5 VAUGHN DR PRINCETON NJ 085406313 990 2012-07-01 210635004 THE PENNINGTON SCHOOL % MANAGEMENT PENN 6097371838 112 W DELAWARE AVE Suite PENNINGTON NJ 08534 J GRAEME MCWHIRTER 6097376120 2014-02-11 true RICHARD C COYNE 6095201188 2012 2015-11-30 17:44:51Z STEPHANIE TOWNSEND 112 W DELAWARE AVE PENNINGTON NJ 08534 38287167 false X WWW.PENNINGTON.ORG X NOT-FOR-PROFIT 1838 NJ INDEPDENDENT, COEDUCATIONAL SCHOOL SERVING DAY AND BOARDING STUDENTS IN GRADES 6-12. 34 33 229 117 122139 1187880 4510759 17513196 18144160 922957 2200480 304507 236938 19928540 25092337 3477070 3566775 0 0 9926062 10211756 0 0 818760 6295832 6367612 19698964 20146143 229576 4946194 51406372 57524937 12908728 12276112 38497644 45248825 INDEPENDENT, COEDUCATIONAL SCHOOL SERVING DAY AND BOARDING STUDENTS IN GRADES 6-12. false false 15689050 3566775 18144160 COEDUCATIONAL DAY/BOARDING SCHOOL SERVICING GRADES 6 THROUGH 12. 15689050 true true false false false false false false true true false false false true true true false true false true false true false true false false false true true true false false false false false false false true false true true false false false false false false false false true 22 0 true 229 true true true false false false false false false false false false false false false X 34 33 false false false false false true true true true false false true true true true true true true true false X X MANAGEMENT 6097371838 112 W DELAWARE AVE PENNINGTON NJ 08534 STEPHANIE TOWNSEND 40.0 X X 333172 0 76165 ROBERT BECKETT 1.0 X 0 0 0 ROBERT CASPER 1.0 X 0 0 0 JANE CELENTANO 1.0 X 0 0 0 VERNON H HAMMOND II 1.0 X 0 0 0 A LOUIS DENTON ESQ 1.0 X 0 0 0 CYNTHIA HILLAS 1.0 X 0 0 0 JAMES HYMAN 1.0 X 0 0 0 MICHAEL JINGOLI 1.0 X 0 0 0 DENNIS KEATING 1.0 X 0 0 0 JOHN SUYDAM KUHLTHAU 1.0 X 0 0 0 WALLACE KYLE 1.0 X 0 0 0 REV DONALD MEDLEY 1.0 X 0 0 0 REV DAVID MERTZ 1.0 X 0 0 0 BISHOP SCHOL 1.0 X 0 0 0 WILLIAM BELFIORE 1.0 X 0 0 0 DR RICHARD H SHARRETT 1.0 X 0 0 0 STEVEN M SILBERMAN 1.0 X 0 0 0 JORDAN GRAY 1.0 X 0 0 0 PETER J TUCCI ESQ 1.0 X 0 0 0 ROBERT M WIGOD 1.0 X 0 0 0 REV ROBERT WILLIAMS 1.0 X 0 0 0 JOHN M ZUCCARELLI 1.0 X 0 0 0 BRIAN MARKISON 1.0 X 0 0 0 GUANG GUO 1.0 X 0 0 0 TARA KINSEY 1.0 X 0 0 0 JOHN MCGUIRE 1.0 X 0 0 0 DAVID PARAGAMIAN 1.0 X 0 0 0 KIM PIMLEY 1.0 X 0 0 0 ANNETTE LAWLOR 1.0 X 0 0 0 FRANKLIN SANDERS 1.0 X 0 0 0 TIMOTHY VILE 1.0 X 0 0 0 STEPHEN TAN 1.0 X 0 0 0 VARLYNA WRIGHT 1.0 X 0 0 0 J GRAEME MCWHIRTER 40.0 X 158340 0 76429 WILLIAM HAWKEY 40.0 X 135758 0 47378 627270 0 199972 3 false true false A E CONSTRUCTION CO 278 N MAIN ST PENNINGTON NJ 08534 CONSTRUCTION 227475 CENTIMARK CORP 375 RARITAN CENTER PKWY EDISON NJ 08837 CONSTRUCTION 135725 COMMERCIAL CLEANING CORPORATION 1602 PENNINGTON ROAD TRENTON NJ 08618 HOUSEKEEPING 162441 VOITH MACTAVISH ARCHITECTS LLP 2401 WALNUT ST PHILADELPHIA PA 19103 ARCHITECTS 127113 JAMES FARM CREATIVE LLC 869 JAMES ROAD WEYBRIDGE VT 05753 MARKETING SERVICES 105274 5 4510759 5001 4510759 TUITION & FEES 18144160 18144160 18144160 637175 637175 0 0 389760 276931 112829 0 112829 112829 14330555 12767250 1563305 1563305 120895 57958 62937 0 121885 92691 29194 OTHER 22668 22668 YEARBOOK ADVERTISING 541800 9310 9310 31978 25092337 18166828 122139 637175 0 3431475 3431475 135300 135300 0 823766 584874 197704 41188 0 7103555 5043524 1704853 355178 467723 332083 112254 23386 1243863 883143 298527 62193 572849 406723 137484 28642 0 23201 23201 53498 53498 0 0 0 19920 19920 87691 87691 92400 64680 23100 4620 120406 120406 0 613902 435870 147337 30695 0 0 30368 30368 276184 196091 80093 0 1980257 1405982 475262 99013 160573 160573 DEVELOPMENT OFFICE 171385 171385 ADMISSIONS 46871 46871 HEALTH CENTER 15602 15602 HEAD MASTER OFFICE 155723 155723 2519631 2219842 297329 2460 20146143 15689050 3638333 818760 0 0 4135068 3986067 437691 3339028 89598 118989 0 0 0 0 0 0 41717 43644 266454 296533 44463011 24429923 20622544 20033088 25756313 29652951 0 0 0 0 0 0 56987 54637 51406372 57524937 1755731 1610636 0 0 3084665 3070545 6995000 6810000 0 0 0 0 451551 438960 0 0 621781 345971 12908728 12276112 X 26262165 28158370 3833595 8209246 8401884 8881209 38497644 45248825 51406372 57524937 X 4946194 1592164 212823 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 26850921 242656 3439158 660434 29872301 27969644 123766 -623443 619046 26850921 22456980 221927 4657098 -633639 27969644 19479969 1112291 2194360 329640 22456980 23959814 126700 -4440463 166082 19479969 0.55000 0.31000 0.14000 false false false 258677 258677 32851034 17500620 15350414 4627020 1793331 2833689 4418027 3726173 691854 2308253 1409799 898454 20033088 0 LIABILTIY INTEREST RATE SWAP 63560 SWAP TERMINATION LIABILITY 282411 345971 23567043 1592164 -3117458 -1525294 25092337 25092337 17029897 -3116246 -3116246 20146143 20146143 REVENUE RECONCILIATION ITEMS SCHEDULE D, PART XII VARIOUS ITEMS CLASSIFICATION DIFFERENCES BETWEEN TAX RETURN AND FINANCIAL STATEMENT: 1. SCHOLARSHIPS AND FINANCIAL ASSISTANCE $3,566,775 2. RENTAL EXPENSES ($276,931) 3. DIRECT FUNDRAISING EXPENSES ($57,958) 4. COSTS OF GOODS SOLD ($92,691) 5. MISCELLANEOUS ADJUSTMENT ($21,737). EXPENSE RECONCILIATION ITEMS SCHEDULE D PART XIII, LINE 2D VARIOUS ITEMS CLASSIFICATION DIFFERENCES BETWEEN TAX RETURN AND FINANCIAL STATEMENT: 1. SCHOLARSHIPS AND FINANCIAL ASSISTANCE $3,566,775 2. RENTAL EXPENSES ($276,931) 3. DIRECT FUNDRAISING EXPENSES ($57,958) 4. COSTS OF GOODS SOLD ($92,691) 5. MISCELLANEOUS ADJUSTMENT $(22,949). true true true true true true true false false false false false false false false false false true NONDISCRIMINATORY POLICY NOTICE FORM 990 SCHEDULE E LINE 3 THE ORGANIZATION ADVERTISES THROUGH LOCAL NEWSPAPERS. East Asia and the Pacific 0 0 Fundraising 9962 0 0 0 0 9962 9962 SCHOLARSHIPS AND FINANCIAL AID OUTSIDE US Sub-Saharan Africa 1 46100 FMV SCHOLARSHIPS AND FINANCIAL AID OUTSIDE US Central America and the Caribbean 2 89200 FMV false false false false false false AUCTION 112799 112799 57958 1 8096 8096 120895 120895 57958 57958 62937 true SCHOLARSHIPS AND FINANCIAL AID 137 3431475 FMV FINANCIAL AID SEE EXPLANATION FOR PART I, LINE 2 SCHEDULE I, PART III THERE WERE 121 RECIPIENTS OF FINANCIAL AID AND 16 RECIPIENTS OF TUITION REMISSION. TUITION REMISSION IS AWARDED ON A NEED BASIS AND COVER THE COST OF A DAY TUITION. FINANCIAL AID IS AWARDED ON A NEED BASIS USING INDUSTRY STANDARD FINANCIAL DISCLOSURES AND CALCULATIONS. X true true X X X X false true false false false false false false false STEPHANIE TOWNSEND 310729 0 0 0 22443 0 0 0 76165 0 409337 0 0 0 WILLIAM HAWKEY 135325 0 433 0 0 0 0 0 47378 0 183136 0 0 0 J GRAEME MCWHIRTER 158340 0 0 0 0 0 0 0 76429 0 234769 0 0 0 COMPENSATION QUESTIONS SCHEDULE J, PART 1 STEPHANIE TOWNSEND IS REIMBURSED FOR GOLF CLUB MEMBERSHIP FEES. MS. TOWNSEND WAS ASKED TO JOIN THE GOLF CLUB, WHICH DOES NOT ACCEPT CORPORATE MEMBERS, ON BEHALF OF THE SCHOOL. AS A RESULT THE COSTS ASSOCIATED WITH MEMBERSHIP ARE GROSSED UP FOR TAX PURPOSES AND MS. TOWNSEND IS REIMBURSED THE ASSOCIATED TAX. STEPHANIE TOWNSEND IS PROVIDED A SUPPLEMENTAL PENSION IN 2012-2013. THE COST WAS $15,500. A NEW JERSEY ECONOMIC AUTHORITY 222045817 64577MY17 2009-11-20 7500000 RESTRUCTURING OF NJEDA BONDS false false false A 0 0 7500000 0 0 0 63059 0 0 0 0 0 false false true true A false false false false 0.02440 0.02440 0.04880 false A true true CITIZENS BANK 5. false false true 0 false false false A MICHAEL JINGOLI TRUSTEE/INTEREST IN CO. 46300 CO. PROVIDED CONSTRUCTION MGMT false JAMES HYMAN TRUSTEE/OFFICER OF BANK 16200 INTEREST PAID TO BANK false X 9 231462 FAIR VALUE X VARIOUS ITEMS 1 5000 FAIR VALUE false true true Schedule M Part I, Line 32b The school uses Wells Fargo stock broker to sell noncash security contributions at market value. CONFLICT OF INTEREST POLICY PART VI, SECTION B, 12C SCHOOL REQUIRES ALL BOARD OF TRUSTEES, OFFICERS AND KEY EMPLOYEES TO SIGN ANNUAL CONFLICT OF INTEREST POLICIES. COMPENSATION POLICY PART VI, SECTION B, 15B HEAD OF SCHOOL HAS BEEN IDENTIFIED AS A KEY EMPLOYEE. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES MEETS TO DECIDE COMPENSATION. MEMBERS OF COMMITTEE ARE INDEPENDENT. COMMITTEE MEMBER PREPARES COMPARABLE DATA FROM TAX RETURNS (USING GUIDESTAR) AND NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (COLLECTED BY CFO). THIS MATERIAL IS REVIEWED BY EXECUTIVE COMMITTEE. BOARD OF TRUSTESS RATIFIES COMMITTEE'S FINDINGS. 990 REVIEW PROCESS PART VI, SECTION B, 11 FORM 990 PREPARED BY INDEPENDENT ACCOUNTANTS, REVIEWED BY FINANCE COMMITTEE AND MADE AVAILABLE TO INDIVIDUAL TRUSTEES EITHER BY EMAIL OR AT A BOARD MEETING PRIOR TO FILING. DOCUMENTS AVAILABLE TO THE PUBLIC PART VI, SECTION C, 19 THE SCHOOL'S FORM 990 AND 990-T ARE AVAILABLE ON WWW.GUIDESTAR.ORG. NO OTHER DOCUMENTS ARE AVAILABLE TO THE PUBLIC. RECONCILIATION OF NET ASSETS FORM 990, PAGE 12, PART XI, LINE 9 THE RECONCILING NUMBER IS THE GAIN ON THE INTERST RATE SWAP ($214,035) AND PRIOR PERIOD ADJUSTMENT FOR INVESTMENTS ($1,212). OTHER EXPENSES FORM 990 PART IX DESCRIPTION:ADMINISTRATIVE TOTAL EXPENSES:162506 MANAGEMENT AND GENERAL:162506 OTHER EXPENSES FORM 990 PART IX DESCRIPTION:INVESTMENT MANAGEMENT TOTAL EXPENSES:123015 MANAGEMENT AND GENERAL:123015 OTHER EXPENSES FORM 990 PART IX DESCRIPTION:BAD DEBT EXPENSE TOTAL EXPENSES:45000 PROGRAM SERVICES:45000 OTHER EXPENSES FORM 990 PART IX DESCRIPTION:FOOD SERVICES TOTAL EXPENSES:919801 PROGRAM SERVICES:919801 OTHER EXPENSES FORM 990 PART IX DESCRIPTION:ATHLETICS TOTAL EXPENSES:181281 PROGRAM SERVICES:181281 OTHER EXPENSES FORM 990 PART IX DESCRIPTION:LIBRARY TOTAL EXPENSES:37519 PROGRAM SERVICES:37519 OTHER EXPENSES FORM 990 PART IX DESCRIPTION:RESIDENTIAL LIFE TOTAL EXPENSES:47462 PROGRAM SERVICES:47462 OTHER EXPENSES FORM 990 PART IX DESCRIPTION:INSTRUCTIONAL/OTHER TOTAL EXPENSES:479478 PROGRAM SERVICES:479478 OTHER EXPENSES FORM 990 PART IX DESCRIPTION:EQUIPMENT RENTAL & MAINTENANCE TOTAL EXPENSES:474369 PROGRAM SERVICES:474369 OTHER EXPENSES FORM 990 PART IX DESCRIPTION:PRINTING & PUBLICATION TOTAL EXPENSES:49200 PROGRAM SERVICES:34932 MANAGEMENT AND GENERAL:11808 FUNDRAISING:2460