2014-04-29T08:50:57-05:00 2013-06-30 232932984 PARENTEBARD LLC 1650 MARKET ST SUITE 4500 PHILADELPHIA PA 19103 990 2012-07-01 231178880 VALLEY FORGE MILITARY ACADEMY FOUNDATION VALL 6109891200 1001 EAGLE ROAD WAYNE PA 190873695 VINCENT J VUONO 6109891200 2014-04-28 1 JULIUS C GREEN CPA JD P00350393 5703236023 2014-04-28 2012 2015-11-30 17:44:51Z VINCENT J VUONO 1001 EAGLE ROAD WAYNE PA 190873695 29046507 0 X WWW.VFMAC.EDU X 1928 PA EDUCATIONAL INSTITUTION FOCUSED ON BUILDING LEADERSHIP THROUGH A MILITARY ENVIRONMENT. 19 7 243 100 388290 0 3391910 1851834 25810297 23558149 508249 348263 35990 75786 29746446 25834032 7127042 6160843 0 0 9670295 9766446 0 0 488332 10851708 11588165 27649045 27515454 2097401 -1681422 40441804 41931880 11340510 13151882 29101294 28779998 X TO EDUCATE CADETS, WITHIN AN ACADEMIC AND MILITARY ENVIRONMENT, TO BE FULLY PREPARED FOR THEIR RESPONSIBILITIES AS CITIZEN LEADERS WHO ARE MENTALLY ALERT, SOUND IN BODY, CONSIDERATE OF OTHERS AND POSSESSED OF THE HIGHEST SENSE OF DUTY, HONOR, LOYALTY, AND COURAGE.TO FOSTER THE LOVE OF GOD AND COUNTRY, HIGH MORAL STANDARDS AND STRONG CHARACTER TRAITS THAT WILL MAKE ALL A CREDIT TO THEMSELVES, THEIR FAMILIES, THEIR ALMA MATER, THEIR COUNTRY, AND THEIR GOD. 0 0 21530775 6160843 23558149 VALLEY FORGE PROVIDES CADETS WITH AN EDUCATIONAL EXPERIENCE BUILT ON OUR FIVE CORNERSTONES: ACADEMIC EXCELLENCE, CHARACTER DEVELOPMENT, PERSONAL MOTIVATION, PHYSICAL DEVELOPMENT, AND LEADERSHIP. A VALLEY FORGE EDUCATION IS ROOTED IN QUALITY ACADEMIC PROGRAMS SUPPORTED BY LEADERSHIP RESPONSIBILITIES AND STRONG ATHLETIC AND EXTRACURRICULAR OPPORTUNITIES. THE SCHOOL HOSTED 570 STUDENTS DURING THE YEAR. 21530775 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 23 1 1 243 1 1 1 0 0 0 0 1 1 0 0 0 0 X 19 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 PA X VINCENT J VUONO CFOCOO 6109891232 1001 EAGLE ROAD WAYNE PA 19087 ROBERT BACINE 1.00 X X 0 0 0 RICHARD HOCKER 1.00 X 0 0 0 FREDERICK BREITENFELD JR 1.00 X 0 0 0 NILES DALLY 1.00 X 0 0 0 ANTOINETTE IADAROLA 1.00 X 0 0 0 J KENT MCNEW 1.00 X 0 0 0 CONRAD MUHLY 1.00 X 0 0 0 DANIEL REAVY 1.00 X 0 0 0 CHRIS ROUSSOS 1.00 X 0 0 0 IVAN SABEL 1.00 X 0 0 0 GEORGE SCHILDGE 1.00 X 0 0 0 WILLIAM FLOYD 1.00 X X 0 0 0 ROBERT JARDELEZA 1.00 X 0 0 0 JOHN ENGLISH 1.00 X 0 0 0 BLAISE MERCADENTE 1.00 X 0 0 0 TIM O'ROURKE 1.00 X X 0 0 0 DAVID ESQUEDA 1.00 X 0 0 0 AUDREY SPANGENBERG 1.00 X 0 0 0 JOSE VASQUEZ 1.00 X 0 0 0 VINCENT VUONO 40.00 X 168134 0 18146 KATHLEEN ANDERSON 40.00 X 131100 0 3278 DENIS SPIZUOCO 40.00 X 124100 0 2812 DAVID GRAY 40.00 X 185718 0 15049 609052 0 39285 4 0 1 0 SODEXO INC PO BOX 905374 CHARLOTTE NC 28290 FOOD SERVICE 2213453 TARGET BUILDING CONSTRUCTION INC 1124 CHESTER PIKE CRUM LYNNE PA 19022 CONSTRUCTION SERVICES 1213083 KEYSTONE HEALTH PLAN TRUST PO BOX 70250 PHILADELPHIA PA 191760250 HEALTH COVERAGE 1156234 MAIN LINE JANITORIAL SERVICE 4438 LOBELLA COURT CHESTER SPRINGS PA 19425 LAUNDRY, CLEANING SERVICES 722253 HARMELIN MEDIA 525 RIGHTER FERRY ROAD BALA CYNWYD PA 19004 MEDIA SERVICES 350495 12 39081 723 1812030 19980 1851834 TUITION AND FEES 611600 22414191 22414191 HOUSING RENTALS 611600 563369 563369 SUMMER CAMP PROGRAM 611600 526046 256046 270000 FINANCIAL AID 611600 54543 54543 23558149 265006 265006 168933 126844 42089 42089 42089 3014876 650 2932269 0 82607 650 83257 83257 97340 39081 153362 -56022 -56022 6635 0 6635 6635 CAVALRY 713990 76201 76201 OTHER ADMINISTRATIVE INCOME 900099 6883 6883 83084 25834032 23288149 388290 305759 6160843 6160843 656601 656601 7179437 5683464 1220606 275367 180274 141446 32208 6620 986285 776292 180284 29709 763849 414559 328112 21178 321786 321786 97652 97652 75834 75834 1791142 1221619 569523 655630 53806 601824 1329532 1065509 233520 30503 43882 43882 1949508 1351891 513609 84008 1546191 1506842 32218 7131 362198 316628 38901 6669 1474390 1288891 158352 27147 UNIFORMS 676147 676147 STUDENT PROGRAMS 397021 397021 BAD DEBTS 374336 374336 ALLOCATION OF PLANT OPE 228568 228568 264348 247249 17099 27515454 21530775 5496347 488332 1500 950 6387934 2563521 33895 78230 198720 171531 851661 926325 47014492 28436433 17501036 18578059 7029907 10664247 323392 320640 8113759 8628377 40441804 41931880 2466782 2239680 2232086 3412527 6100000 5900000 30000 1079500 17613 77138 360659 320856 133370 122181 11340510 13151882 X 10817670 9778078 7565164 7516552 10718460 11485368 29101294 28779998 40441804 41931880 -1681422 1360126 0 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8688966 93854 933608 36700 9679728 9061504 73056 -87569 323300 34725 8688966 8007355 53607 1332242 331700 9061504 7561355 952898 506898 8007355 9591096 -1522441 507300 7561355 0.00000 0.75550 0.24450 1 0 2571602 2571602 38788658 24444363 14344295 0 5159443 3992070 1167373 494789 494789 18578059 INTEREST IN PERPETUAL TRUST 4000997 INTEREST IN CHARITABLE REMAINDER TRUSTS 4627380 8628377 ANNUITIES PAYABLE 122181 122181 X 21089274 1360126 -6160843 -4800717 25889991 70885 -126844 -55959 25834032 21410570 126844 126844 21283726 70885 6160843 6231728 27515454 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT IS TO BE USED FOR THE OPERATIONS OF THE ORGANIZATION. THE MAJORITY OF FUNDS ARE ALLOCATED TO CADET SCHOLARSHIPS. CADET AND STAFF AWARDS ARE ALSO FUNDED BY THE ENDOWMENT. ALLOWABLE ENDOWMENT FUNDING IS ALSO USED FOR PLANT OPERATIONS WHEN NECESSARY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE FOUNDATION HAS EVALUATED ITS TAX POSITIONS AS OF JUNE 30, 2012. A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE-LIKELY-THAN-NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT HAS A LIKELIHOOD OF BEING REALIZED ON EXAMINATION OF MORE THAN 50 PERCENT. FOR TAX POSITIONS NOT MEETING THE "MORE-LIKELY-THAN-NOT" TEST, NO TAX BENEFIT IS RECORDED. UNDER THE "MORE-LIKELY-THAN-NOT" THRESHOLD GUIDELINES, THE FOUNDATION BELIEVES NO SIGNIFICANT UNCERTAIN TAX POSITIONS EXIST, EITHER INDIVIDUALLY OR IN THE AGGREGATE, THAT WOULD GIVE RISE TO THE NON-RECOGNITION OF AN EXISTING TAX BENEFIT. AS OF JUNE 30, 2013, THE FOUNDATION HAS NO MATERIAL UNRECOGNIZED TAX BENEFITS OR ACCRUED INTEREST AND PENALTIES. THE FEDERAL 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, AND APPLICABLE STATE TAX FILINGS FOR THE YEARS ENDED JUNE 30, 2013, 2012, AND 2011 REMAIN SUBJECT TO EXAMINATION BY THE APPROPRIATE TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -6,160,843. PART XI, LINE 4B - OTHER ADJUSTMENTS: FACILITIES RENTAL EXPENSES -126,844. PART XII, LINE 2D - OTHER ADJUSTMENTS: FACILITY RENTAL EXPENSES 126,844. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 6,160,843. 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 ADVERTISING INCLUDES THE REQUIRED STATEMENTS REGARDING OUR RACIAL NON-DISCRIMINATORY POLICY IN BOTH PRINT AND RADIO. EXPLANATION OF DOCUMENT RETENTION SCHEDULE E, PART I, LINE 4 SCHOLARSHIPS AND FINANCIAL AID ASSISTANCE ARE AWARDED ON THE BASIS OF NEED, MEASURED BY FAFSA, PHEAA AND PELL. ADDITIONALLY, ASSISTANCE IS AWARDED BASED ON MERIT, SUCH AS ACADEMIC PERFORMANCE AND OTHER FACTORS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 VALLEY FORGE MILITARY ACADEMY AND COLLEGE RECEIVES A GRANT THROUGH THE PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY INSTITUTIONAL ASSISTANCE GRANT PROGRAM. MUSTANG DINNER 42462 33211 9251 13093 4885 SILENT AUCT. 53374 53374 10603 1 29657 29657 33561 125493 33211 92282 13093 49049 62142 30140 1 VARIOUS 424 6160843 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: VF AWARDS INTERNAL MERIT SCHOLARSHIPS BASED ON THE CADET'S GRADES (GPA) FROM HIS / HER PREVIOUS SCHOOL AND FINANCIAL NEED. THERE IS A MATRIX USED TO DETERMINE THE AMOUNT TO BE AWARDED TO EACH CADET. THERE ARE ALSO AID AWARDS WHICH ARE BASED ON SUBMITTED FAFSA FORMS. BOTH FEDERAL AND STATE GOVERNMENTS HAVE CHARTS DETERMINING AID SUCH AS THROUGH PHEAA AND PELL GRANTS. X X X 1 0 0 0 0 0 0 0 0 VINCENT VUONO 168134 0 0 0 0 0 4203 0 13943 0 186280 0 0 0 DAVID GRAY 185718 0 0 0 0 0 15049 0 0 0 200767 0 0 0 PART I, LINE 4A DAVID GRAY, THE FORMER PRESIDENT, RETIRED IN AUGUST 2012 AND RECEIVED SEVERANCE PAY UPON HIS LEAVETAKING. A PA HIGHER EDUCATIONAL FACILITIES AUTHORITY 232243852 70917NC44 2004-03-01 4000000 CAPITAL PROJECTS (CONSTRUCTION) 0 0 1 A 400000 4200000 200000 4000000 2005 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 0 NA 0 0 0 NA 0 0 1 A 1 ROBERT A BACINE TRUSTEE SHORT TERM LOAN - CASH BRIDGE FOR ORGANIZATION X 5000 5000 0 1 1 FREDERICK BREITENFELD TRUSTEE SHORT TERM LOAN - CASH BRIDGE FOR ORGANIZATION X 5000 5000 0 1 1 NILES DALLY TRUSTEE SHORT TERM LOAN - CASH BRIDGE FOR ORGANIZATION X 20000 20000 0 1 1 JOHN ENGLISH TRUSTEE SHORT TERM LOAN - CASH BRIDGE FOR ORGANIZATION X 25000 25000 0 1 1 DAVID J ESQUEDA TRUSTEE SHORT TERM LOAN - CASH BRIDGE FOR ORGANIZATION X 5000 5000 0 1 1 WILLIAM R FLOYD TRUSTEE SHORT TERM LOAN - CASH BRIDGE FOR ORGANIZATION X 270000 267000 0 1 1 HOWARD A FORSTER TRUSTEE SHORT TERM LOAN - CASH BRIDGE FOR ORGANIZATION X 10000 10000 0 1 1 KENT J MCNEW TRUSTEE SHORT TERM LOAN - CASH BRIDGE FOR ORGANIZATION X 300000 300000 0 1 1 CONRAD E MUHLY TRUSTEE SHORT TERM LOAN - CASH BRIDGE FOR ORGANIZATION X 200000 200000 0 1 1 MICHAEL A NOLEN TRUSTEE SHORT TERM LOAN - CASH BRIDGE FOR ORGANIZATION X 18000 18000 0 1 1 TIMOTHY C O'ROURKE FORMER TRUSTEE SHORT TERM LOAN - CASH BRIDGE FOR ORGANIZATION X 7500 7500 0 1 1 DANIEL J REAVY TRUSTEE SHORT TERM LOAN - CASH BRIDGE FOR ORGANIZATION X 5000 5000 0 1 1 GEORGE H SCHILDGE TRUSTEE SHORT TERM LOAN - CASH BRIDGE FOR ORGANIZATION X 100000 100000 0 1 1 AUDREY SPANGENBERG TRUSTEE SHORT TERM LOAN - CASH BRIDGE FOR ORGANIZATION X 100000 100000 0 1 1 NORMAN F STEIN TRUSTEE SHORT TERM LOAN - CASH BRIDGE FOR ORGANIZATION X 2000 2000 0 1 1 JOSE E VASQUEZ BARQUET TRUSTEE SHORT TERM LOAN - CASH BRIDGE FOR ORGANIZATION X 10000 10000 0 1 1 1079500 FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION RECEIVES A COPY OF THE 990 FROM THE ACCOUNTING FIRM PREPARING THE RETURN. THE CONTROLLER REVIEWS THE 990, FOLLOWED BY THE CFO. AFTER REVIEW BY THE CONTROLLER AND CFO, THE FORM IS PRESENTED TO THE BUDGET, AUDIT AND FINANCE (BAF) COMMITTEE FOR ITS REVIEW, APPROVAL AND RECOMMENDATION. THEN, THE BAF COMMITTEE PRESENTS THE FORM TO THE FULL BOARD OF TRUSTEES FOR ITS REVIEW AND APPROVAL PRIOR TO THE FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C AN ANNUAL QUESTIONNAIRE IS SENT TO ALL BOARD MEMBERS AND SENIOR STAFF MEMBERS DOCUMENTING WHETHER THEY ARE INVOLVED IN ANY BUSINESS WITH THE FOUNDATION THAT COULD BE CONSTRUED AS GIVING RISE TO A POTENTIAL CONFLICT OF INTEREST. THESE QUESTIONNAIRES ARE SIGNED BY EACH BOARD MEMBER AND SENIOR STAFF MEMBER AND RETURNED TO THE FOUNDATION'S CFO FOR MONITORING OF POTENTIAL CONFLICTS. ANY TRANSACTIONS WITH AN INTERESTED PARTY ARE AT ARM'S LENGTH AND ARE DISCLOSED IN THE ORGANIZATION'S FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S BOARD OF DIRECTORS DETERMINES THE COMPENSATION FOR THE PRESIDENT USING VARIOUS METHODS THAT ENSURE THAT COMPENSATION IS IN LINE WITH THE FAIR MARKET RANGE FOR THE INDUSTRY. SURVEYS PROVIDED BY ORGANIZATIONS THAT SERVE AS CONSORTIUMS OF INDEPENDENT SCHOOLS ARE REFERENCED AND REVIEWED AS WELL AS FORMS 990 OF OTHER, SIMILAR ORGANIZATIONS. THE DISCUSSIONS AND DECISION BY THE EXECUTIVE COMMITTEE TAKE PLACE IN CLOSED SESSION, HOWEVER, THE PRESIDENT'S COMPENSATION PACKAGE IS DISCUSSED WITH AND PRESENTED TO THE BOARD PRIOR TO THE FINAL DECISION. OTHER KEY EMPLOYEES HAVE THEIR COMPENSATION PACKAGE RESEARCHED BY THE HUMAN RESOURCES DEPARTMENT INCLUDING COMPARISION WITH INDUSTRY STANDARDS. THESE PACKAGES ARE PRESENTED TO THE PRESIDENT FOR REVIEW AND FINAL APPROVAL AFTER DISCUSSIONS WITH THE BOARD PRIOR TO THE FINAL DECISION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. DOCUMENT DESTRUCTION AND RETENTION POLICY: FORM 990, PAGE 6, PART VI, LINE 14 THE ORGANIZATION HAS AN ORAL POLICY CONCERNING DOCUMENT RETENTION AND DESTRUCTION AND IS CURRENTLY IN THE PROCESS OF FORMALIZING THE PROCEDURE WITH A WRITTEN POLICY.