2014-07-14T15:32:54-05:00 2013-06-30 541517420 WALL EINHORN & CHERNITZER PC 555 E MAIN ST SUITE 1600 NORFOLK VA 23510 990 2012-07-01 540806413 NORFOLK COLLEGIATE SCHOOL NORF 7575830919 7336 GRANBY STREET NORFOLK VA 23505 SCOTT KENNEDY 7575830919 2014-07-10 1 SUSAN R EINHORN P00304274 7576254700 2014-07-10 2012 2015-11-30 17:44:51Z SCOTT KENNEDY 7336 GRANBY STREET NORFOLK VA 23505 16206872 0 X WWW.NORFOLKCOLLEGIATE.ORG X SCHOOL 1948 VA TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND. 39 38 153 150 0 0 794146 755372 10918812 10567595 352228 395060 248224 197638 12313410 11915665 1160313 1145407 0 0 6707403 5983917 0 0 628015 4821079 5676389 12688795 12805713 -375385 -890048 31070166 32218004 11519107 12784870 19551059 19433134 TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND. 0 0 9126725 1145407 10744542 OPERATION OF A PRIVATE SCHOOL WITH AN APPROXIMATE ENROLLMENT OF 640 STUDENTS. 9126725 1 1 0 0 0 0 0 0 0 1 1 0 0 1 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 1 0 0 0 1 0 0 153 1 0 0 0 0 0 1 1 0 0 0 0 X 39 38 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X NORFOLK COLLEGIATE SCHOOL 7575830919 7336 GRANBY STREET NORFOLK VA 235053492 STANLEY G BARR JR 2.00 X 0 0 0 MARK S BATZEL 2.00 X 0 0 0 GARY D BONNEWELL 2.00 X X 0 0 0 DR JOSEPH F BOUCHARD 2.00 X X 0 0 0 ASHLYN M BRANDT 2.00 X 0 0 0 BENJAMIN G COTTRELL V 2.00 X 0 0 0 JEFFREY S CREEKMORE 2.00 X 0 0 0 ROBERT H DEFORD III 2.00 X 0 0 0 TAYLOR FRANKLIN 2.00 X 0 0 0 DIEDRE M GRANGER 2.00 X 0 0 0 STEVEN B HALL 2.00 X 0 0 0 HENRY U HARRIS III 2.00 X 0 0 0 HON STEPHEN E HERETICK 2.00 X 0 0 0 CHRISTOPHER KANTER 2.00 X 0 0 0 HON SUSAN H KELLEY 2.00 X 0 0 0 RICHARD F KIEFNER JR 2.00 X 0 0 0 KEVIN M LARKIN 2.00 X 0 0 0 SUNSHINE M LEINBACH 2.00 X 0 0 0 FREDERICK V MARTIN 2.00 X 0 0 0 BETSY N MASON 2.00 X 0 0 0 THEODORE A MATHAS 2.00 X 0 0 0 ROBERT W MCFARLAND 2.00 X X 0 0 0 CAROL H MOORE 2.00 X X 0 0 0 HARRISON J PERRINE 2.00 X 0 0 0 RICHARD D ROBERTS 2.00 X 0 0 0 DR SCOTT A ROBERTSON 2.00 X 0 0 0 DR BARBARA M SARRIS 2.00 X 0 0 0 JOHN SAWYER 2.00 X 0 0 0 DR CAMDEN WOOD SELIG 2.00 X 0 0 0 JEFFREY M SILVERMAN 2.00 X 0 0 0 BROOK J SMITH 2.00 X 0 0 0 ELIZABETH S SMITH 2.00 X 0 0 0 DR RONALD A STINE 2.00 X 0 0 0 JEFFREY A SWARTZ 2.00 X 0 0 0 VICKI H TOWNSEND 2.00 X 0 0 0 JAMES T VAIL 2.00 X 0 0 0 JOHN P WRIGHT 2.00 X 0 0 0 SHEPELLE WATKINS-WHITE 2.00 X 0 0 0 SCOTT G KENNEDY 60.00 X 185453 0 2786 185453 0 2786 1 0 1 0 SAGE DINING SERVICES INC 222 BOSLEY AVE TOWSON MD 21204 FOOD SERVICE 631507 TRANQUEST LLC 994 SCOTT STREET NORFOLK VA 23502 CHARTER BUS SERVICES 225297 DUKE SERVICES PO BOX 6027 WILLIAMSBURG VA 23188 CLEANING SERVICES 147416 CSC LEASING 6806 PARAGAN PLACE RICHMOND VA 23230 LEASING OF ASSETS 135992 4 68601 98000 588771 18392 755372 TUITION 611710 9981646 9981646 AUXILIARY SERVICES 611710 464506 464506 STUDENT ACTIVITIES 611710 121443 121443 10567595 237680 237680 82728 22328 60400 60400 60400 4321468 4164088 157380 157380 157380 222462 68601 104791 117671 117671 CHARITABLE REMAINDER TRUST 525920 19567 19567 19567 11915665 10744542 0 415751 1145407 1145407 207660 187272 20388 5069158 3677621 1263322 128215 284938 284938 422161 301068 109057 12036 43090 43090 31114 31114 733876 620575 113191 110 121636 121636 78319 66374 11945 337928 326839 11089 6100 4965 1135 229468 229468 753496 753496 53789 53789 FACULTY SCHOLARSHIPS 610256 610256 DINING SERVICES 556990 556990 BAD DEBTS 526403 95253 431150 ATHLETIC DEPARTMENT 393750 393750 1200174 814076 330729 55369 12805713 9126725 3050973 628015 710739 8567 734901 1405925 3841277 2995628 1369154 1558409 56782 84782 62571 45705 29734600 9408619 13497960 20325981 7122007 5198671 3674775 594336 31070166 32218004 1692438 822486 3081361 2910299 5318553 6555480 3618852 189828 114680 11519107 12784870 X 15494106 15906973 971101 726900 3085852 2799261 19551059 19433134 31070166 32218004 X -890048 338130 367495 66498 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3653261 21791 161893 317487 3519458 3525477 58463 69321 3653261 3102377 4996 418104 3525477 2845630 61505 195242 3102377 2644099 356560 -155029 2845630 0.79540 0.20460 0 0 2935042 2935042 23943616 6776636 17166980 2855942 2631983 223959 20325981 DEFERRED COMPENSATION 108000 DERIVATIVE FINANCIAL INSTRUMENTS 6680 114680 X 11302005 338130 193617 531747 10770258 1145407 1145407 11915665 11787425 127119 127119 11660306 1145407 1145407 12805713 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENTS ARE MAINTAINED FOR VARIOUS REASONS SUCH AS STUDENT SCHOLARSHIPS, FINANCIAL ASSISTANCE, AND FACULTY SALARIES. THE SCHOOL'S ENDOWMENT CONSISTS OF APPROXIMATELY 12 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT INCLUDES DONOR-RESTRICTED ENDOWMENT FUNDS. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT ON NET INCOME DERVIED FROM UNRELATED BUSINESS ACTIVITIES. INTERNAL REVENUE CODE SECTION 513(A) DEFINES AN UNRELATED TRADE OR BUSINESS OF AN EXEMPT ORGANIZATION AS ANY TRADE OR BUSINESS WHICH IS NOT SUBSTANTIALLY RELATED TO THE EXERCISE OR PERFORMANCE OF ITS EXEMPT PURPOSE. CURRENTLY, THE SCHOOL HAS NO OBLIGATION FOR ANY UNRELATED BUSINESS INCOME TAX. THE SCHOOL BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS; HOWEVER, ANY PENALTIES AND INTEREST INCURRED AS A RESULT OF UNCERTAIN TAX POSITIONS WOULD BE RECORDED IN GENERAL AND ADMINISTRATIVE EXPENSES. THE SCHOOL'S FEDERAL RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) FOR THE YEARS ENDED PRIOR TO JUNE 30, 2010 IS GENERALLY NOT SUBJECT TO EXAMINATION BY THE IRS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 104,791. GAIN ON DERIVATIVE INSTRUMENTS 57,245. CHANGE IN INTEREST IN NET ASSETS OF RECIPIENT ORGANIZATION 9,253. RENTAL EXPENSES 22,328. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,145,407. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 104,791. RENTAL EXPENSES 22,328. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,145,407. 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 NEWSPAPER ADVERTISEMENT AUCTION 109312 15401 93911 20008 FALL FAIR 45062 10800 34262 16116 4 136689 42400 94289 68667 291063 68601 222462 104791 104791 117671 1 NEED BASED FINANCIAL AID FOR TUITION 216 1145407 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE SCHOOL HAS A FINANCIAL AID POLICY THAT IS USED TO MONITOR THE USE OF FINANCIAL AID. X X X X 0 0 0 0 0 0 0 0 0 SCOTT G KENNEDY 185453 0 0 0 0 0 0 0 2786 0 188239 0 0 0 A NORFOLK AIRPORT AUTHORITY 2012A 546001465 2012-06-27 3990750 BUILDINGS AND STRUCTURES 0 1 0 B NORFOLK AIRPORT AUTHORITY 2012B 546001465 2012-06-27 1330250 BUILDINGS AND STRUCTURES 0 1 0 A 1835 3990750 52313 3938437 0 0 1 1 B 612 1330250 52312 1277938 0 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 A 0 0 0 0 1 0 0 0 0 B 0 0 0 0 1 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE SCHOOL HAD BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THERE IS A COMMITTEE OF TRUSTEES THAT OVERSEES BOARD MEMBERSHIP. THE NEEDS OF THE BOARD/SCHOOL ARE ALWAYS REVIEWED FOR ITEMS SUCH AS GEOGRAPHIC/WORK/GENDER/DIVERSITY. THIS COMMITTEE SOLICITS MEMBERS FROM WITHIN THE COMMUNITY (OTHER BOARD, STAFF). THE COMMITTEE REVIEWS THEIR ATTRIBUTES AS BEING A PART OF THE BOARD. THEY ARE ALSO INTERVIEWED BY THE BOARD CHAIR AND COMMITTEE ON TRUSTEE CHAIR PRIOR TO BEING PRESENTED TO BOARD FOR VOTING APPROVAL. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD NORMALLY WORKS THROUGH A COMMITTEE STRUCTURE WHICH INCLUDES ADVANCEMENT, BUILDING & GROUNDS, FINANCE, STUDENT LIFE, AND GOVERNANCE. INITIALLY MOST ITEMS ARE DISCUSSED AND BROUGHT TO THE COMMITTEE LEVEL FOR BACKGROUND, RESEARCH, AND REVIEW. AREAS THAT REQUIRE APPROVAL ARE VOTED ON BY COMMITTEE, TAKEN TO THE EXECUTIVE COMMITTEE FOR DISCUSSION/VOTE, AND THEN TAKEN TO THE FULL BOARD FOR DISCUSSION/VOTE. FORM 990, PART VI, SECTION B, LINE 11 THE 990 IS REVIEWED BY THE AUDIT COMMITTEE PRIOR TO ITS FILING. IT IS ALSO AVAILABLE TO THE BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, BOARD MEMBERS ARE REQUIRED TO SUBMIT CONFLICT OF INTEREST STATEMENTS (REFLECTING NONE OR STATED CONFLICTS) TO THE GOVERNANCE COMMITTEE CHAIR. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR ADMINISTRATIVE POSITIONS IS BENCHMARKED USING SEVEN CRITERIA FIELDS OF SALARY BY POSITION FROM NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL AND VIRGINIA ASSOCIATION OF INDEPENDENT SCHOOLS. FOR ADMINISTRATIVE POSITIONS, THE MEDIAN OF THAT DATA IS USED AS A BENCHMARK FOR SALARY DETERMINATION WITHIN THE BUDGET GUIDELINES AND OVERALL STAFF AND FACULTY COST OF LIVING GUIDELINES FOR EACH FISCAL YEAR. HEADMASTER COMPENSATION ALSO USED THE BENCHMARKING CRITERIA AND IS REVIEWED AND SET BY A COMPENSATION COMMITTEE OF BOARD MEMBERS. FORM 990, PART VI, SECTION C, LINE 19 NORFOLK COLLEGIATE SCHOOL PROVIDES AND REVIEWS GOVERNING DOCUMENTS AND ITS CONFLICT OF INTEREST POLICY WITH THE BOARD OF TRUSTEES MEMBERS ANNUALLY. THE ANNUAL FINANCIAL STATEMETNS ARE PRESENTED TO THE BOARD OF TRUSTEES AUDIT COMMITTEE, WHO SUBSEQUENTLY PRESENTS THE FINANCIALS TO THE FINANCE COMMITTEE AND THE EXECUTIVE BOARD OF THE TRUSTEES. THE ANNUAL FINANCIAL STATEMENTS ARE ALSO AVAILABLE FOR REVIEW BY ALL MEMBERS OF THE BOARD OF TRUSTEES UPON PRESENTATION TO THE AFOREMENTIONED COMMITTEES. ALL OF THESE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: GAIN ON DERIVATIVE INSTRUMENTS 57,245. CHANGE IN INTEREST IN NET ASSETS OF RECIPIENT ORGANIZATION 9,253. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT. THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE YEAR. NORFOLK COLLEGIATE EDUCATIONAL FOUNDATION INC 7336 GRANBY STREET NORFOLK VA 23505 541893594 PROVIDE GRANTS TO NORFOLK COLLEGIATE SCHOOL FOR NEED-BASED FINANCIAL AID. VA 501(C)(3) 509(A) N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 NORFOLK COLLEGIATE EDUCATIONAL FOUNDATION C 98000 CASH