2014-05-13T14:37:03-05:00 2013-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2012-07-01 221607926 RUTGERS PREPARATORY SCHOOL % H STEWART WHELLER III RUTG 7325455600 1345 EASTON AVENUE Suite SOMERSET NJ 088731499 ALAN WINK 7325455600 2014-05-08 true KPMG LLP 2127589700 2012 2015-11-30 17:44:51Z STEVEN A LOY 1345 EASTON AVENUE SOMERSET NJ 088731499 23033860 false X www.rutgersprep.org X 1766 NJ PRE-KINDERGARTEN THROUGH TWELFTH GRADE CO-EDUCATIONAL INDEPENDENT DAY SCHOOL 25 25 351 2 0 826751 950194 19285492 20390141 269341 228682 847309 1037797 21228893 22606814 2784374 3275706 0 0 12556289 13045800 0 0 833726 4841170 5434287 20181833 21755793 1047060 851021 46275276 47161138 11960501 11411839 34314775 35749299 X THROUGH EXCELLENCE IN EDUCATION, WE INSPIRE STUDENTS TO DISCOVER AND PURSUE THEIR PASSIONS, EMBRACE INTELLECTUAL CURIOSITY AND CREATIVITY, AND LEAD WITH CONFIDENCE. false false 15079162 3275706 18315617 EDUCATION AND INSTRUCTION FOR APPROXIMATELY 690 STUDENTS IN GRADES PRE-KINDERGARTEN THROUGH GRADE 12 SERVING SOMERSET COUNTY AND ADJACENT COMMUNITIES. 1067387 0 1089140 STUDENT SERVICES - ACTIVITIES (INCLUDING ATHLETICS, STUDENT PUBLICATIONS, DRAMA, CLUBS ETC.) 1837646 0 1894793 AUXILIARY ENTERPRISES (INCLUDING SCHOOL STORE, CAFETERIA, INTERNATIONAL PROGRAM,TRANSPORTATION, SUMMER CAMPS, AFTER SCHOOL PROGRAMS, GRADUATION) 17984195 true true false false false false false false false true true false false false true true true false true false false false false false true false false false true true true false false false false false true false false true false true false false false false false false false false true 17 0 true 351 true false false false false false false false false false false X 25 25 false false false false false false false true true false false true true true true true false true false false X H STEWART WHELLER III 7325455600 1345 EASTON AVENUE SOMERSET NJ 088731499 BRUCE WILLIAMS 3.0 0.0 X X 0 0 0 JOSEPH MANTELL 1.0 0.0 X X 0 0 0 ALAN WINK 2.0 0.0 X X 0 0 0 EDWARD THORNTON 1.0 0.0 X X 0 0 0 ANA AYMES 1.0 0.0 X 0 0 0 TARA AUCIELLO 1.0 0.0 X 0 0 0 MARK A BEAN 1.0 0.0 X 0 0 0 NAN M BLECKER 1.0 0.0 X 0 0 0 SCOTT BOWEN 1.0 0.0 X 0 0 0 MARCUS CHRISTEN 1.0 X ANDREA CUNNELL 1.0 0.0 X 0 0 0 MARY ANN DE SANTIS 1.0 0.0 X 0 0 0 MARK DIGIOVANNI 1.0 0.0 X 0 0 0 MARY TODD GANZENMULLER 1.0 0.0 X 0 0 0 ANDREW K GOLDEN 1.0 0.0 X 0 0 0 AYANNA HILL-GILL 1.0 0.0 X 0 0 0 JONATHAN D KAUFELT 1.0 0.0 X 0 0 0 PETER LAMPEN 1.0 0.0 X 0 0 0 PAUL LEATH 1.0 0.0 X 0 0 0 THOMAS POWERS 1.0 0.0 X 0 0 0 ERNEST RENDA 1.0 0.0 X 0 0 0 LORETTA SHAW-LORELLO 1.0 0.0 X 0 0 0 NANCY STEVENSON 1.0 0.0 X 0 0 0 CAROLYN SULLIVAN 1.0 0.0 X 0 0 0 MANMEET VIRDI 1.0 X STEVEN A LOY 50.0 0.0 X 397029 0 52778 H STEWART WHELLER III 50.0 0.0 X 150043 0 29976 CAROLE GLANTZOW-ZBORAY 50.0 0.0 X 157534 0 25985 STEPHEN LEWANDOWSKI 50.0 0.0 X 142290 0 13963 JAMES E ACKERMAN 40.0 0.0 X 133375 0 28395 TODD RUTMAN 50.0 0.0 X 117936 0 21563 PETER RICHARDSON 50.0 0.0 X 115149 0 26194 1213356 0 198854 12 false true false EPIC MANAGEMENT INC 136 ELEVENTH STREET PISCATAWAY NJ 08854 CONSTRUCTION 492759 THE LEEGIS GROUP INC 2333 US HIGHWAY 22 WEST UNION NJ 07083 CONSTRUCTION 912376 SAGE DINING SERVICES INC 1402 YORK ROAD SUITE 100 LUTHERVILLE MD 21093 FOOD SERVICE 630762 DESIGN IDEAS GROUP 15 BETHANY STREET NEW BRUNSWICK NJ 08901 ARCHITECTS 106509 GEORGE DAPPER INC 1020 GREEN STREET ISELIN NJ 08830 BUS SERVICE 306184 5 950194 77774 950194 STUDENT TUITION 900099 20006543 20006543 APPLICATION FEES 900099 21150 21150 STUDENT TRANSPORTATION 611710 234445 234445 AFTER SCHOOL PROGRAMS 611710 128003 128003 20390141 195026 195026 0 0 76467 7615 68852 0 68852 68852 284271 250615 33656 33656 33656 25097 13188 11909 11909 0 233559 155628 77931 77931 INTERNATIONAL HOUSING 900099 306475 306475 SUMMER CAMPS 900099 135807 135807 INTERNATIONAL FEES 900099 158000 158000 278823 231196 47627 879105 22606814 21299550 357070 0 3275706 3275706 0 0 632898 44749 409152 178997 47039 47039 10136684 8620667 1154557 361460 553256 453509 73249 26498 873934 725558 108106 40270 801989 640725 134537 26727 0 64000 64000 8600 8600 0 0 0 0 82099 82099 142481 92613 21371 28497 99082 99082 0 356332 338516 14253 3563 43732 22834 20898 0 85436 75233 10203 216630 216630 0 1271027 1207475 50841 12711 131152 24263 106889 AUXILIARY SERVICES 388882 388882 0 0 OTHER OPERATING EXPENSES 529800 0 397980 131820 PLANT OPERATION & MAINTENANCE 253347 241922 9140 2285 ATHLETICS & STUDENT ACTIVITIES 430597 430597 0 0 1331090 1277659 53431 21755793 17984195 2937872 833726 7405092 7667398 9318395 9679930 503061 360048 35141 44108 185000 153000 0 0 0 0 195399 179272 150096 160590 34103150 13019393 19985572 21083757 6057786 6825283 0 0 0 0 0 0 2439734 1007752 46275276 47161138 2070791 1943862 0 0 3883600 3540469 5810743 5730758 0 0 0 0 0 0 0 0 195367 196750 11960501 11411839 X 30812357 31806340 1672099 1886261 1830319 2056698 34314775 35749299 46275276 47161138 851021 583503 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7724470 245475 801309 8915 8762339 7649623 49248 55231 29632 7724470 6349672 110266 1314818 125133 7649623 5622240 78510 648922 0 6349672 6735653 42681 -1145724 10370 5622240 0.64300 0.23240 0.12460 false false 351179 351179 22148372 8593880 13554492 4153372 2584036 1569336 7450227 1841477 5608750 21083757 0 AMOUNTS HELD FOR OTHERS 111307 ASSET RETIREMENT OBLIGATION 85443 196750 X 20091042 583503 -3275706 -2692203 22783245 -176431 -176431 22606814 18656518 176431 176431 18480087 3275706 3275706 21755793 FORM 990, SCHEDULE D, PART V, LINE 4 THE INTENDED USE OF ENDOWMENT FUNDS ENDOWMENT FUNDS HAVE BEEN ESTABLISHED BY THE SCHOOL FOR SCHOLARSHIPS, FACULTY DEVELOPMENT AND GENERAL PURPOSES. FORM 990, SCHEDULE D, PART X INCOME TAXES The School is an organization described under Section 501(c)(3) of the Internal Revenue Code and is exempt from Federal income taxes under Section 501(a) of the Code on income generated by activities that are substantially related to its tax-exempt purpose. There are certain transactions that could be deemed unrelated business income and could result in a tax liability. Management reviews transactions to estimate potential tax liabilities using a threshold of more likely than not. It is managements estimation that there are no material tax liabilities that are required to be recorded. FORM 990, SCHEDULE D, PART XI RECONCILIATION OF REVENUE LINE 2D FINANCIAL AID ($3,275,706) LINE 4B COST OF GOODS SOLD ($155,628) SPECIAL EVENT DIRECT EXPENSES ($13,188) RENTAL EXPENSES ($7,615) ------------- ($176,431) FORM 990, SCHEDULE D, PART XII RECONCILIATION OF EXPENSES LINE 2D COST OF GOODS SOLD $155,628 SPECIAL EVENT DIRECT EXPENSE $ 13,188 RENTAL EXPENSES $ 7,615 ----------- $176,431 LINE 4B FINANCIAL AID $3,275,706 true true true true true true true false false false false false false false false true false true RACIALLY NONDISCRIMINATORY FORM 990, SCHEDULE E, LINE 3 A STATEMENT AS TO SUCH POSITION IS INCLUDED IN ADVERTISEMENTS AND ON THE ORGANIZATION'S WEBSITE. FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY FORM 990, SCHEDULE E, LINE 6A NO CHILD LEFT BEHIND, STATE OF NEW JERSEY - TEXTBOOKS AND NURSING. VARIETY SHOW 25097 25097 6707 6481 0 25097 25097 6707 6481 13188 11909 true STUDENT FINANCIAL AID & SCHOLARSHIPS 228 3275706 FORM 990, SCHEDULE I, PART I, LINE 2 RUTGERS PREPARATORY SCHOOL OFFERS FINANCIAL AID TO QUALIFIED STUDENTS BASED ON THE DEMONSTRATED FINANCIAL NEED OF THE FAMILY AND THE AVAILABILITY OF FINANCIAL AID FUNDS. THESE FUNDS ARE NEED-BASED FINANCIAL AID. RUTGERS PREPARATORY SCHOOL IS A MEMBER OF THE SCHOOL AND STUDENTS SERVICE FOR FINANCIAL AID (SSS), WHICH ASSISTS INDEPENDENT SCHOOLS IN DETERMINING FINANCIAL NEED. ALL APPLICATIONS FOR AID ARE MADE THROUGH THE ADMISSION OFFICE AND THE LIST OF FAMILIES WHO RECEIVE AID IS KEPT CONFIDENTIAL. FINANCIAL AID GRANTS ARE APPLIED AS A REDUCTION TO THE FAMILY'S TUITION. X X true true X X X X false false false false false false false false false STEVEN A LOY 300047 0 48500 0 48482 0 31215 0 21923 0 450167 0 0 0 H STEWART WHELLER III 149251 0 0 0 792 0 15689 0 14647 0 180379 0 0 0 CAROLE GLANTZOW-ZBORAY 157348 0 0 0 186 0 11698 0 14647 0 183879 0 0 0 STEPHEN LEWANDOWSKI 139633 0 0 0 2657 0 13963 0 360 0 156613 0 0 0 JAMES E ACKERMAN 132651 0 0 0 724 0 14108 0 14647 0 162130 0 0 0 FORM 990, SCHEDULE J, PART I, LINE 1A HOUSING AND OTHER ALLOWANCES AND TRAVEL FOR COMPANIONS HOUSING AND OTHER TAXABLE ALLOWANCES DESCRIPTION: THE ALLOWANCES FOR THE FOLLOWING EMPLOYEES ARE TAXABLE AND REFLECTED AS PART OF TAXABLE INCOME AND INCLUDED AS TAXABLE INCOME ON THEIR FORM W-2, BOX 1 AND 5. STEVEN LOY'S CONTRACT INCLUDES A HOUSING AND RELATED EXPENSES ALLOWANCE OF $35,400 FOR MORTGAGE PAYMENTS, REAL ESTATE TAXES, INSURANCE, MAINTENANCE AND UTILITIES; AN AUTOMOBILE ALLOWANCE OF $5,800 FOR FUEL AND MAINTENANCE; AND THE TAXABLE LEASE VALUE OF A VEHICLE PROVIDED BY THE SCHOOL $6,490. THE TAXABLE VALUE OF VEHICLE PROVIDED BY THE SCHOOL TO STEPHEN LEWANDOWSKI IS $1,945. TRAVEL FOR COMPANIONS: THE HEADMASTER AND HIS SPOUSE SERVE AS AMBASSADORS FOR THE SCHOOL AND FULFILL A KEY ADMINISTRATIVE ROLE IN FUNDRAISING, MARKETING, AND RECRUITMENT OF FACULTY AND STUDENTS. THE HEADMASTER'S SPOUSE ALSO SERVES IN THE ROLE OF ATHLETIC COACH AND INSTRUCTOR. TRAVEL RELATED ONLY TO THE RESPONSIBILITIES OF THESE FUNCTIONS IS REIMBURSED IN ACCORDANCE WITH THE SCHOOL'S PROCUREMENT GUIDELINES AND IS NOT REPORTED AS TAXABLE COMPENSATION TO THE HEADMASTER. TRAVEL OUTSIDE OF THIS FUNCTION IS NOT REIMBURSED. A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 2010-12-20 6000000 CONSTRUCTION OF NEW BUILDING false false false A 269242 0 6000000 0 79380 0 83174 0 0 5837996 0 0 2011 false false true true A false false false false 0 false false false false A false true false false true false 0 false 0 false false A false STEVEN A LOY HOUSE & HOUSE IMPROV X 160000 128000 false true true STEVEN A LOY HOME IMPROVEMENTS X 25000 25000 false true true 153000 PHILOMENA C LOY FAMILY - S.A. LOY 47039 COMP & BENEFITS false X 11 77774 FMV false true false FORM 990, SCHEDULE M, PART I, COLUMN (B) NUMBER OF CONTRIBUTORS THE NUMBER IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. THE ORGANIZATION RECEIVED 11 STOCK CONTRIBUTIONS FROM 10 CONTRIBUTORS. FORM 990, PART VI, LINE 11 REVIEW OF FORM 990 THE FORM 990 IS PREPARED BY CFO WITH INPUT FROM THE HEADMASTER AND OTHER SCHOOL ADMINISTRATORS WITH ASSISTANCE FROM THE SCHOOL'S TAX ACCOUNTANTS. THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. THE FINAL COPY OF THE FORM 990 IS PROVIDED TO EACH OF THE BOARD MEMBERS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, LINE 12C CONFLICT OF INTEREST POLICY A CONFLICT OF INTEREST STATEMENT IS SENT TO EACH BOARD OF TRUSTEE MEMBER AND EACH ADMINISTRATOR EVERY SEPTEMBER FOR SIGNATURE. THE SIGNED CONFLICT OF INTEREST STATEMENTS ARE RETURNED TO THE ASSISTANT TO THE HEADMASTER. THE STATEMENTS ARE REVIEWED FOR ANY REPORTED POTENTIAL CONFLICTS. ANY POTENTIAL CONFLICTS ARE REPORTED TO THE PRESIDENT OF THE BOARD AND/OR HEADMASTER. IF NECESSARY, THE COMMITTEE ON TRUSTEESHIP AND/OR THE BOARD OF TRUSTEES WOULD PROVIDE GUIDANCE AND TAKE SUCH ACTION AS IT DEEMS APPROPRIATE UNDER THE CIRCUMSTANCES. FORM 990, PART VI, LINE 15 COMPENSATION PART VI, LINE 15A: A THREE-MEMBER COMPENSATION COMMITTEE CONSISTING OF INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES OVERSEES THE ENGAGEMENT OF THE HEADMASTER/CEO. IT ALSO REVIEWS ANNUAL PERFORMANCE. IN 2009, THIS COMMITTEE NEGOTIATED A LONG-TERM EMPLOYMENT CONTRACT WHICH RUNS THROUGH JUNE 30, 2017 WITH THE HEADMASTER. IN THE COURSE OF COMMITTEE AND BOARD DELIBERATIONS, THE SCHOOL LOOKED AT MARKET COMPARABLES AND OTHER OUTSIDE INFORMATION. THE COMPENSATION COMMITTEE MET BY TELEPHONE, EMAIL, ETC. ON FREQUENT OCCASIONS DURING THE DELIBERATION PERIOD AND IT RETAINED CONTEMPORANEOUS RECORDS. THE SCHOOL ALSO UTILIZED OUTSIDE LEGAL COUNSEL TO FORMALIZE AND FINALIZE THE AGREEMENT. THE CONTRACT WAS APPROVED BY THE BOARD OF TRUSTEES. PART VI, LINE 15B: THE CEO FIXES THE COMPENSATION OF THE CFO IN ACCORDANCE WITH REGULAR AND CONTINUING COMPENSATION PRACTICES FOR ALL SCHOOL EMPLOYEES. FORM 990, PART VI, LINE 19 DISCLOSURE RUTGERS PREPARATORY SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 5 OTHER CHANGES IN NET ASSETS NET UNREALIZED GAIN ON INVESTMENT - $583,503