2014-02-15T10:42:23-06:00 2013-06-30 232932984 PARENTEBEARD LLC 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990 2012-07-01 231352650 THE AGNES IRWIN SCHOOL AGNE 6105258400 P O BOX 407 ROSEMONT PA 19010 KEVIN MCCULLOUGH 6105258400 2014-02-12 1 JULIUS C GREEN CPA JD P00350393 2129720701 2012 2015-11-30 17:44:51Z KEVIN MCCULLOUGH P O BOX 407 ROSEMONT PA 19010 35160778 0 X WWW.AGNESIRWIN.ORG X 1869 PA TO FOSTER THE INTELLECTUAL AND PERSONAL GROWTH OF GIRLS AND YOUNG WOMEN. 29 28 410 325 0 0 11492257 10805374 18122574 19256006 671375 900733 341263 286861 30627469 31248974 2584230 2827357 0 0 13509792 13633898 0 0 2036594 5100112 5275880 21194134 21737135 9433335 9511839 69849253 92243049 18101133 29356387 51748120 62886662 X THE MISSION OF THE AGNES IRWIN SCHOOL IS TO FOSTER THE INTELLECTUAL AND PERSONAL GROWTH OF GIRLS AND YOUNG WOMEN. THE SCHOOL PROVIDES ITS STUDENTS WITH A RIGOROUS ACADEMIC EDUCATION AND DEDICATES ITSELF TO DEVELOPING EACH STUDENT'S HIGHEST POTENTIAL IN INTELLECT, CHARACTER AND PHYSICAL WELL-BEING. COMMITTED TO BEING A DIVERSE COMMUNITY THAT FOSTERS SELF-CONFIDENCE AND RESPECT FOR OTHERS, THE SCHOOL PREPARES EACH STUDENT TO LEAD AND TO ENRICH THE WORLD. 0 0 14671888 2827357 19256006 FULL-TIME DAY SCHOOL OF APPROXIMATELY 701 STUDENTS IN GRADES PRE-K THROUGH 12 14671888 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 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 42 0 1 410 1 0 0 0 0 0 1 1 0 0 0 0 X 29 28 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X KEVIN MCCULLOUGH DIRECTOR OF FINANCE 6105258400 ITHAN AVENUE CONESTOGA ROAD ROSEMONT PA 19010 DR MARY SEPPALA 40.00 X X 558613 0 256430 ELINOR H BUCK 1.00 X 0 0 0 JENNIFER KINKEAD 1.00 X 0 0 0 NANCY R CROCKETT 1.00 X 0 0 0 DAVID P HOLLANDER 1.00 X 0 0 0 STEVEN B KATZNELSON 1.00 X X 0 0 0 CONNIE ANN PHILLIPS 1.00 X 0 0 0 NORBORNE GEE SMITH 1.00 X 0 0 0 YVONNE S WILLIAMS 1.00 X 0 0 0 SHARON C YOH 1.00 X X 0 0 0 SUSAN S BURCH 1.00 X X 0 0 0 ANN LAUPHEIMER SONNENFELD 1.00 X X 0 0 0 PAMELA T BERKMAN 1.00 X X 0 0 0 ANITA L MCMULLIN 1.00 X 0 0 0 ROBERT L MCNEIL 1.00 X 0 0 0 MARSHALL W PAGON 1.00 X 0 0 0 DEREK N PEW 1.00 X 0 0 0 KRISTIN A SCHINELLA 1.00 X 0 0 0 PATRICK P COYNE 1.00 X 0 0 0 JOANNA MCNEIL LEWIS 1.00 X 0 0 0 LISA SHERRERD BARKER 1.00 X 0 0 0 CAROLYN C CULLEN 1.00 X 0 0 0 DEANNA LEICHT LOUGHNANE 1.00 X 0 0 0 ELIZABETH CUCKLER ODIORNE 1.00 X 0 0 0 DR BONNIE OFFIT 1.00 X 0 0 0 MARC RICHMAN 1.00 X 0 0 0 MARK THORBURN 1.00 X 0 0 0 CHRISTOPHER THOMPSON 1.00 X 0 0 0 MERRITT WEBER 1.00 X 0 0 0 KEVIN MCCULLOUGH 40.00 X 180079 0 26080 LYNNE MYAVEC 40.00 X 119678 0 13733 PATRICIA VOIGHT 40.00 X 124675 0 704 SHEILA PAULEY 40.00 X 120254 0 13701 SALLY KEIDEL 40.00 X 117989 0 13688 MARGARET WELSH 40.00 X 109849 0 18705 1331137 0 343041 12 0 1 0 INTECH CONSTRUCTION 3001 MARKET STREET PHILADELPHIA PA 19104 CONSTRUCTION 16059838 CITIZENS BANK PO BOX 9655 PROVIDENCE RI 02940 CREDIT CARD PROCESSING 534378 BOHLIN CYWINSKI JACKSON 8 WEST MARKET STREET WILKESBARRE PA 18701 ARCHITECTURE 428492 CAL FIRST NATIONAL BANK PO BOX 2509 SANTA ANA CA 92707 FINANCIAL SERVICES 251995 GEOSTRUCTURES INC 1000 WEST 9TH AVENUE KING OF PRUSSIA PA 19406 CONSTRUCTION AND DESIGN 203753 26 80478 85672 10639224 437459 10805374 TUITION 611710 18809994 18809994 SUMMER & AFTER SCHOOL SESSION 611710 446012 446012 19256006 533429 533429 4043280 3675976 367304 367304 367304 278384 80478 116404 161980 161980 153426 119424 34002 34002 COMMISSION INCOME 611710 44625 44625 TRANSPORTATION SALES 611710 14968 14968 VENDING MACHINE SALES 611710 8604 8604 22682 22682 90879 31248974 19256006 0 1187594 2827357 2827357 841213 841213 10192440 6749405 2299795 1143240 573567 370621 165502 37444 1246284 971819 208791 65674 780394 484545 216342 79507 18387 18387 53048 53048 300162 195423 46018 58721 694239 360367 184228 149644 286231 55700 214005 16526 839232 550238 256705 32289 338222 212414 125808 14888 14888 1210475 988723 163006 58746 146557 109069 31007 6481 OTHER AUXILLIARY PROGRA 364940 364940 DUES & SUBSCRIPTIONS 195046 195046 LUNCHEON 147048 147048 ATHLETICS 132641 132641 534764 298626 168670 67468 21737135 14671888 5028653 2036594 423 707 5379628 5267542 8034478 11456833 35527 56272 80591 76499 294519 332362 69377742 17696371 31235653 51681371 3935906 661641 18690763 20179119 2161765 2530703 69849253 92243049 3650696 4527456 2168107 1878723 9085000 8840000 1424597 12430650 1772733 1679558 18101133 29356387 X 31140715 48604737 8523505 2013482 12083900 12268443 51748120 62886662 69849253 92243049 X 9511839 1406652 220051 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22414212 136462 2248676 4043279 20756071 21163394 3105387 -943229 911340 22414212 18233695 58911 3841488 970700 21163394 16236623 1046916 1967206 1017050 18233695 21319664 235397 -4283438 1035000 16236623 0.43540 0.04440 0.52020 1 0 28896398 10144735 18751663 1007464 99384 908080 8513403 7452252 1061151 30960477 30960477 51681371 TIFF INVESTMENTS 20179119 F 20179119 ACCRUED POST RETIREMENT COST 1679558 1679558 X 30327409 1406652 -2607306 -1200654 31528063 -279089 -279089 31248974 19021789 119424 119424 18902365 2834770 2834770 21737135 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ORGANIZATION'S ENDOWMENT FUNDS ARE USED TO PROVIDE INCOME IN SUPPORT OF FACULTY SALARIES, SABBATICALS, PROFESSIONAL DEVELOPMENT AND RETIREMENT, ACADEMIC CHAIRPERSONS, FINANCIAL AID, COMMUNITY SERVICE, CURRICULUM ENRICHMENT, VISITING LECTURERS AND LIBRARY SERVICES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE SCHOOL ACCOUNTS FOR UNCERTAINTIES IN INCOME TAXES IN ACCORDANCE WITH AUTHORITATIVE GUIDANCE, WHICH PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. THE SCHOOL'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR 2012, 2011, AND 2010 REMAIN SUBJECT TO EXAMINATION BY THE IRS. THE SCHOOL'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST ARRANGEMENTS 53,120. FINANCIAL AID (TUITION AND FEES) -2,827,357. CHANGE IN BENEFICIAL INTERESTS 166,931. PART XI, LINE 4B - OTHER ADJUSTMENTS: PARENTS' COUNCIL INCREASE IN NET ASSETS LESS ADMIN EXPENSES 22,460. ALUMNAE ASSOCIATION INCREASE IN NET ASSETS LESS ADMIN EXPENSES -182,125. COST OF GOODS SOLD -119,424. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 119,424. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID (TUITION AND FEES) 2,827,357. PARENTS' COUNCIL ADMIN EXPENSES 7,413. 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 NEWSPAPERS EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE SCHOOL RECEIVES STATE ASSISTANCE FOR BOOKS. WINTERFEST 242773 39478 203295 55578 GOLF OUTING 58570 41000 17570 33782 4 57519 57519 27044 358862 80478 278384 116404 116404 161980 1 FINANCIAL AID 176 2827357 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE SCHOOL IS COMMITTED TO HAVING A SOCIO-ECONOMICALLY, ETHNICALLY, RACIALLY AND RELIGIOUSLY DIVERSE STUDENT BODY. THE SCHOOL IS ALSO COMMITTED TO MAKING ITS EDUCATIONAL OPPORTUNITIES AVAILABLE TO BRIGHT, MOTIVATED AND TALENTED GIRLS REGARDLESS OF THEIR FAMILY'S ABILITY TO PAY. FINANCIAL AID DECISIONS ARE MADE ON THE BASIS OF DEMONSTRATED NEED AND THE AVAILABILITY OF FUNDS. EXPECTATIONS FOR FAMILIES: THE PRIME RESPONSIBILIY FOR FINANCING A STUDENT'S EDUCATION RESTS WITH HER FAMILY. BEFORE APPLYING FOR FINANCIAL AID, FAMILIES SHOULD ADJUST SPENDING PRIORITIES, REEVALUATING EXPENSES RELATED TO ENTERTAINMENT, VACATIONS, SPORTS AND CLUB MEMBERSHIPS AND OTHER NON-ESSENTIAL EXPENDITURES. BOTH PARENTS (INCLUDING CUSTODIAL AND NON-CUSTODIAL) MUST SUBMIT A PARENTS' FINANCIAL STATEMENT (PFS) FORM TO THE SCHOOL AND STUDENT SERVICES FOR FINANCIAL AID (SSS) BY JANUARY 15TH. EARNINGS AND ASSETS OF STEPPARENTS MUST ALSO BE INCLUDED. BOTH PARENTS ARE ALSO REQUIRED TO SUBMIT TO THE DIRECTOR OF FINANCIAL AID THE MOST RECENT FORM 1040. FINANCIAL AID IS RECALCULATED EACH YEAR USING CURRENT INFORMATION. A FAMILY IS GUARANTEED THE SAME PERCENT AWARD AS ORIGINALLY OFFERED ASSUMING THEIR FINANCIAL PROFILE REMAINS THE SAME. EXPECTATIONS FOR THE FINANCIAL AID COMMITTEE: SHOULD A CURRENTLY ENROLLED FAMILY EXPERIENCE A CHANGE IN THEIR ECONOMIC CONDITION, THE COMMITTEE WILL EVALUATE THEIR CIRCUMSTANCES (USING THE PFS AND TAX RETURNS) AND OFFER ASSISTANCE FOR ONE YEAR. A LONG TERM COMMITMENT WILL BE CONSIDERED BUT NOT GUARANTEED. ADMINISTRATION WILL KEEP WATCH ON ANY SIGNIFICANT GROWTH IN SUCH SITUATIONS AND ITS IMPACT ON THE FINANCIAL AID BUDGET. SEE SCHEDULE O FOR CONTINUATION X X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 DR MARY SEPPALA 555613 0 0 0 3000 0 205383 0 51047 0 815043 0 0 0 KEVIN MCCULLOUGH 180079 0 0 0 0 0 18008 0 8072 0 206159 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL IS PROVIDED BENEFITS THAT RELATE TO BUSINESS TRAVEL AND FUNDRAISING ACTIVITIES. THE DISCRETIONARY ACCOUNT REIMBURSES THE HEAD OF SCHOOL FOR BUSINESS EXPENSES INCURRED PERSONALLY. THESE BUSINESS EXPENSES MAY RANGE FROM SUPPORT FOR ATHLETICS TO USING FUNDS TO ASSIST TEACHERS IN THE ATTENDANCE OF CONFERENCES. ALL EXPENSES ARE FULLY DOCUMENTED BY THE SCHOOL. THE HEAD OF SCHOOL IS REQUIRED TO LIVE IN THE HOUSE PROVIDED BY THE SCHOOL. PART I, LINE 4B THE HEAD OF SCHOOL, DR. MARY SEPPALA, PARTICIPATES IN A 457(F) PLAN. DURING THE CALENDAR YEAR ENDING DECEMBER 31, 2012 THE AMOUNT OF $192,883 WAS CONTRIBUTED TO THE PLAN FOLLOWING THE STIPULATIONS IN HER EMPLOYMENT AGREEEMNT. A DELAWARE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 231997311 246018EE1 2003-10-01 11000000 SEE SCHEDULE O 0 0 0 A 2160000 11000000 186860 10813140 2004 0 0 1 1 A 0 1 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 1 0 0 0 1 A 1 X 19 351787 NYSE X TEXT BOOKS 1 85672 FMV 0 0 1 THIRD PARTY USE: PART I, LINE 32B: THE ORGANIZATION USES A THIRD PARTY BROKER TO PROCESS STOCK TRANSACTIONS RELATED TO THE CONTRIBUTION OF STOCK. FORM 990, PART VI, SECTION A, LINE 2 ROBERT MCNEIL AND JODY MCNEIL LEWIS HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS INITIALLY REVIEWED BY THE CONTROLLER AND DIRECTOR OF FINANCE. ONCE INITIAL APPROVAL HAS OCCURRED, THE RETURN IS THEN PRESENTED TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL. THE FULL BOARD OF DIRECTORS THEN RECEIVES THE RETURN FOR REVIEW AND APPROVAL FOR A TWO WEEK PERIOD. ONCE THE TWO WEEK COMMENTS PERIOD HAS ENDED, THE RETURN IS THEN FINALIZED AND SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES AND EMPLOYEES ARE REQUIRED TO RE-EVALUATE AND DISCLOSE ANY CONFLICT OF INTERESTS ON AN ANNUAL BASIS. THE TRUSTEES' MANUAL INCLUDES A CODE OF ETHICS AND ALL BOARD MEMBERS, OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO SIGN THE BUSINESS CODE OF ETHICS POLICY ANNUALLY. BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES ABSTAIN FROM ANY DECISIONS AND OR INVOLVEMENT IN TRANSACTIONS IN WHICH A CONFLICT OF INTEREST MAY BE PRESENT. THE BOARD AS A WHOLE, LED BY THE CHAIRMAN, MONITORS THE POLICY AND ANY POTENTIAL OR REAL CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES' COMPENSATION COMMITTEE REVIEWS COMPARATIVE STATISTICS IN ORDER TO DETERMINE COMPENSATION FOR THE HEAD OF SCHOOL WITH THE ASSISTANCE OF AN INDEPENDENT CONSULTANT. SALARIES ARE BENCHMARKED WITH OTHER, SIMILAR ORGANIZATIONS TO ENSURE COMPENSATION IS WITHIN FAIR MARKET RANGE FOR THE INDUSTRY. ALL SALARY DISCUSSIONS ARE DOCUMENTED IN BOARD MINUTES. THE HEAD OF SCHOOL REVIEWS AND APPROVES COMPENSATION FOR OTHER KEY EMPLOYEES USING SIMILAR MARKET STUDIES AND SALARY SURVEYS TO ENSURE KEY EMPLOYEES' COMPENSATION IS WITHIN FAIR MARKET RANGE FOR THE INDUSTRY. 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN SPLIT-INTEREST AGREEMENTS 53,120. CHANGE IN BENEFICIAL INTERESTS 166,931. SCHEDULE I, PART I, LINE 2 CONTINUATION: FINANCIAL AID DOLLARS WILL BE AWARDED WITHIN THE FOLLOWING RANGES: 45%-55% - UPPER SCHOOL 25%-35% - MIDDLE SCHOOL 15%-25% - LOWER SCHOOL THE FINANCIAL AID COMMITTEE WILL GIVE PREFERENCE TO FACULTY CHILDREN ONLY WHEN MAKING AWARDS; CONSIDERATION WILL BE GIVEN TO SIBLINGS AND CHILDREN OF ALUMNAE, WHICH MEANS THAT THE COMMITTEE MAY WEIGH IN FAVOR OF THESE TWO SUBSETS WHEN ALL ELSE IS EQUAL. THE FINANCIAL AID COMMITTEE WILL EXERCISE CAREFUL, DELIBERATE CONSIDERATION WHEN AWARDING FINANCIAL AID, USING THE DIVISIONAL GUIDELINES, AS A TOOL FOR ENROLLMENT MANAGEMENT. FINANCIAL AID IS AVAILABLE TO ALL GRADES; HOWEVER THERE WILL BE A LIMIT OF 50% GRANT IN PREK. A STUDENT'S FINANCIAL AID ALLOCATION WILL BE RECONSIDERED AT KINDERGARTEN AND EVALUATED BASED ON FULL TUITION COSTS. DESCRIPTION OF PURPOSE SCHEDULE K, PART I, LINE A, COLUMN F: FINANCING OR REFINANCING OF ALL OR ANY PORTION OF THE COSTS OF ACQUISITION, CONSTRUCTION, EQUIPPING AND IMPROVEMENT OF CAPITAL PROJECTS INCLUDING THE FINANCING OF THE COSTS OF ISSUANCE OF THE BONDS AND THE ESTABLISHMENT OF RESERVE FUNDS.