2013-04-30T08:51:54-05:00 2012-06-30 420714325 MCGLADREY LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2011-07-01 231365963 REGENTS OF MERCERSBURG COLLEGE REGE 7173286110 300 EAST SEMINARY ST MERCERSBURG PA 172361551 MARIA L KIMSEY 7173286110 2013-04-29 1 WILLIAM E TURCO CPA P00369217 3012963600 2011 2016-02-25 16:41:14Z THE MERCERSBURG ACADEMY T DOUGLAS HALE 300 EAST SEMINARY ST MERCERSBURG PA 172361551 84075639 0 X WWW.MERCERSBURG.EDU X 1865 PA REGENTS OF THE MERCERSBURG COLLEGE IS A CO-EDUCATIONAL, INDEPENDENT COLLEGE PREPARATORY BOARDING AND DAY SCHOOL WHOSE MISSION IS TO PREPARE STUDENTS FOR COLLEGE AND LIFE BEYOND 33 32 375 717 -46683 -65835 15737530 10730934 19634467 21456557 9007681 4250751 1487995 413058 45867673 36851300 5444552 5627480 0 0 15140317 15750853 2822779 25000 3408602 9594461 15265328 33002109 36668661 12865564 182639 308150968 305575095 65139598 73347195 243011370 232227900 X MERCERSBURG ACADEMY PREPARES YOUNG MEN AND WOMEN FROM DIVERSE BACKGROUNDS FOR COLLEGE AND FOR LIFE IN A GLOBAL COMMUNITY. STUDENTS AT MERCERSBURG PURSUE A RIGOROUS AND DYNAMIC CURRICULUM WHILE LEARNING TO LIVE TOGETHER HARMONIOUSLY IN A SUPPORTIVE RESIDENTIAL ENVIRONMENT. MERCERSBURG'S TALENTED FACULTY INSTILL IN STUDENTS THE VALUE OF HARD WORK AND THE IMPORTANCE OF CHARACTER AND COMMUNITY AS THEY TEACH STUDENTS TO THINK FOR THEMSELVES, TO APPROACH LIFE THOUGHTFULLY AND CREATIVELY, TO THRIVE PHYSICALLY, TO ACT MORALLY, TO VALUE THE SPIRITUAL DIMENSION OF HUMAN EXISTENCE, AND TO SERVE OTHERS. 0 0 28469502 5627480 20440339 AN INDEPENDENT COLLEGE-PREPARATORY SCHOOL IN SOUTH-CENTRAL PENNSYLVANIA, THE ACADEMY OFFERS A RIGOROUS ACADEMIC PROGRAM TO APPROXIMATELY 430 BOARDING AND DAY STUDENTS IN GRADES 9 THROUGH 12. IN SMALL CLASSES, STUDENTS AND FACULTY WORK EYE TO EYE AND MIND TO MIND, AS THEY DEEPEN THEIR UNDERSTANDING OF THEIR SUBJECTS-AND OF THEMSELVES.OUTSIDE THE CLASSROOM, STUDENTS IMMERSE THEMSELVES IN THEATER, SPORTS, MUSIC, COMPETITIONS, AND CAMARADERIE. THEY DEVELOP DEEP FRIENDSHIPS WITH STUDENTS FROM NEXT DOOR AND FROM ACROSS THE WORLD. THEY EXPLORE NEW CONCEPTS AND PUSH PAST THEIR LIMITS. MERCERSBURG IS A PLACE OF TRANSFORMATION. STUDENTS TRANSFORM THEMSELVES-AS THEY PREPARE TO TRANSFORM THEIR WORLD. 1691827 1016218 SUMMER AND EXTENDED PROGRAMS:PROGRAMS OUTSIDE THE REGULAR ACADEMIC PROGRAM INCLUDING ACADEMIC INSTRUCTION, ATHLETICS, FINE ARTS, AND INTERNATIONAL AND DOMESTIC TRAVEL PROGRAMS DURING SCHOOL BREAKS. 30161329 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 95 0 1 375 1 1 1 0 0 0 0 0 0 0 0 0 X 33 32 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X MARIA L KIMSEY TREASURER 7173286110 300 EAST SEMINARY ST MERCERSBURG PA 172361551 MS DENISE M DUPRE 2.00 X X 0 0 0 DAVID O FRANTZ PHD 2.00 X X 0 0 0 MR ALLEN W ZERN 2.00 X X 0 0 0 MS ALICE P ALBRIGHT 2.00 X 0 0 0 MR CHARLES E BELL 2.00 X 0 0 0 MR ALBERT C BELLAS 2.00 X 0 0 0 MR KENNETH T BERENTS 2.00 X 0 0 0 MR PETER D DAVENPORT 2.00 X 0 0 0 MR PHILIP L DUNMIRE 2.00 X 0 0 0 MR BRUCE M ECKERT 2.00 X 0 0 0 MS SALLY ANNE EPSTEIN 2.00 X 0 0 0 MS LAURA FISHER 2.00 X 0 0 0 MR THOMAS B HADZOR 2.00 X 0 0 0 MR GABRIEL A HAMMOND 2.00 X 0 0 0 MS PAMELA HOEHN-SARIC 2.00 X 0 0 0 MR JOSEPH R IMLER 2.00 X 0 0 0 MR YOUNG KYOON JEONG 2.00 X 0 0 0 HONORABLE JOHN E JONES III 2.00 X 0 0 0 MR PETER M LEBOVITZ 2.00 X 0 0 0 STACIE L RICE LISSETTE ESQ 2.00 X 0 0 0 PHILIP A LLOYD ESQ 2.00 X 0 0 0 ELIZABETH E GILDEA LOGIE ESQ 2.00 X 0 0 0 MR PIERCE LORD 2.00 X 0 0 0 DOUGLAS L MILLER ESQ 2.00 X 0 0 0 MR JAMIL T MYRIE 2.00 X 0 0 0 JOHN K PRENTISS DVM 2.00 X 0 0 0 MS DEBORAH J SIMON 2.00 X 0 0 0 MR JAMES S SNYDER 2.00 X 0 0 0 MR DAVID G WAGNER 2.00 X 0 0 0 MR STEVEN M WAGSHAL 2.00 X 0 0 0 HON ALAN J WEIN MD FACS PHD 2.00 X 0 0 0 T DOUGLAS HALE 70.00 X X 396012 0 29393 MR BRIAN H HARGROVE 60.00 X 0 0 0 MARIA KIMSEY 60.00 X 191839 0 21293 MARY CARRASCO 60.00 X 171779 0 23468 MARY D RUTHERFORD 60.00 X 149209 0 17530 TOMMY ADAMS 60.00 X 147930 0 18295 EUGENIO SANCHO 60.00 X 124828 0 16413 JEFFREY GOETZ 50.00 X 111254 0 14461 WILLIAM MCCLINTICK 50.00 X 109410 0 60023 1402261 0 200876 10 0 1 0 SAGE DINING SERVICE 1402 YORK ROAD STE 100 LUTHERVILLE MD 21093 FOOD SERVICE 1903072 CENTERBROOK ARCHITECTS/PLANNERS LLP 67 MAIN S CENTERBROOK CT 064090955 ARCHITECT 302210 MERCERSBURG PRINTING 9964 BUCHANAN TRAIL WEST MERCERSBURG PA 17236 PRINTING 155966 HBP INC 952 FREDERICK ST/BOX190 HAGERSTOWN MD 21740 PRINTING 155007 CEH DESIGN INC 4 JACKLIN ROAD BETHEL CT 06801 CONSULTANT 148213 8 10730934 195982 10730934 TUITION AND FEES 900099 20440339 20440339 SUMMER PROGRAMS 900099 1016218 1016218 21456557 2054734 -65835 2120569 8801 0 8801 8801 8801 49247178 173178 47222793 1546 2024385 171632 2196017 2196017 231752 0 231752 231752 OTHER REVENUE 900099 129636 129636 DINING HALL 900099 23649 19152 4497 LAUNDROMAT 900099 19220 19220 172505 36851300 21456557 -46683 4710492 5627480 5627480 838688 838688 11560537 8973302 1232017 1355218 975775 758933 103258 113584 1436667 1130294 145892 160481 939186 741957 93919 103310 15994 12635 1599 1760 88808 70158 8881 9769 25000 25000 460529 363818 46053 50658 777199 648752 73070 55377 174020 137476 17402 19142 1120881 885497 112087 123297 680779 537815 68078 74886 1159539 916036 115954 127549 1163746 919359 116375 128012 378141 298731 37814 41596 2363966 1867533 236397 260036 2406662 1901263 240666 264733 417091 329502 41709 45880 TAXES 90942 71844 9094 10004 FOOD 1594609 1259741 159461 175407 AUXILLARY ACTIVITIES 673538 532095 67354 74089 CURRICULUM DEVELOPMENT 523008 413176 52301 57531 1175876 925244 119349 131283 36668661 30161329 3098730 3408602 1500 1500 16266388 21149393 12200975 14228903 490401 68632 434025 175963 160931 469260 444217 113200538 33930748 79942241 79269790 115232516 48834523 83131464 140755566 240260 227615 308150968 305575095 1916733 2440257 4409119 4893129 49235000 49235000 9578746 16778809 65139598 73347195 X 137049812 128613689 24566295 20699662 81395263 82914549 243011370 232227900 308150968 305575095 X 182639 -10966109 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 55000 2323340 X X 0 214666365 16760028 -1296957 19641866 213455 210274115 182613816 23746385 32481602 23411570 763868 214666365 175462146 10669275 18841714 22117338 241981 182613816 208914504 8591506 -24691543 17115886 236435 175462146 0.50720 0.39430 0.09850 0 0 81493 81493 105397060 32481866 72915194 1974432 1448882 525550 5747553 5747553 79269790 ALTERNATIVE INVESTMENTS 75191433 C POOLED INVESTMENTS 65550538 C LIFE INSURANCE 6995 C EQUITY INVESTMENT 6600 C 140755566 INTEREST RATE SWAP AGREEMENTS 13877088 ASSET RETIREMENT OBLIGATION 599548 SPLIT-INTEREST AGREEMENTS 2302173 16778809 36851300 36668661 182639 -4937935 1147986 -7176160 -10966109 -10783470 17486899 -4937935 -13965937 -18903872 36390771 460529 460529 36851300 29418355 0 29418355 460529 6789777 7250306 36668661 PART III, LINE 4: PART III, LINE 4: MERCERSBURG'S FINE ARTS AND VALUABLE ITEMS COLLECTIONS INCLUDE, BUT ARE NOT LIMITED TO, PAINTINGS, ETCHINGS, PICTURES, TAPESTRIES, STAINED GLASS WINDOWS, ANTIQUITIES AND OTHER WORKS OF ART (I.E. VALUABLE RUGS, SCULPTURES, BRONZES, ANTIQUE FURNITURE, RARE BOOKS, HISTORICAL LETTERS, ANTIQUE SILVER, MANUSCRIPTS, RARE GLASS) OF RARITY, HISTORICAL VALUE, AND/OR ARTISTIC MERIT. ART NOT ONLY PROVIDES AESTHETIC APPRECIATION AND ENJOYMENT, IT ALSO HAS THE POWER TO STIMULATE CREATIVE THINKING AND DISCUSSION. WE ATTEMPT TO INTEGRATE ART INTO THE LIVES OF PEOPLE, INSPIRING REFLECTION AND GENERATING HISTORICAL AND CULTURAL AWARENESS. SOME PIECES OF MERCERSBURG'S COLLECTION ARE PERMANENTLY ON DISPLAY THROUGHOUT THE SCHOOL, OTHERS ARE PERIODICALLY PLACED ON EXHIBIT TO THE SCHOOL COMMUNITY AND THE GENERAL PUBLIC. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE PURPOSE OF THE ENDOWMENT IS TO SUPPORT THE CURRENT OPERATIONS AND ACTIVITIES OF THE ACADEMY THROUGH A TOTAL RETURN INVESTMENT STRATEGY AND A SPENDING POLICY SET TO MAINTAIN, OR IDEALLY INCREASE, THE PURCHASING POWER OF THE ENDOWMENT, WITHOUT PUTTING THE PRINCIPAL VALUE OF THE ENDOWMENT'S INVESTMENTS AT IMPRUDENT RISK. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: UNDER PROVISIONS OF THE INTERNAL REVENUE CODE, SECTION 501(C)(3), AND THE APPLICABLE INCOME TAX REGULATIONS OF PENNSYLVANIA, MERCERSBURG IS EXEMPT FROM TAXES ON INCOME OTHER THAN UNRELATED BUSINESS INCOME. SINCE MERCERSBURG HAD NO MATERIAL UNRELATED BUSINESS INCOME DURING THE YEAR ENDED JUNE 30, 2012, NO PROVISION FOR INCOME TAXES HAS BEEN MADE. THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, MERCERSBURG MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MERCERSBURG HAD NO SUCH POSITIONS RECORDED IN THE FINANCIAL STATEMENTS AT JUNE 30, 2012. GENERALLY, MERCERSBURG IS NO LONGER SUBJECT TO U.S. FEDERAL INCOME TAX POSITIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2009. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -299,681. CHANGE IN MARKET VALUE OF SWAP AGREEMENT -6,876,479. TOTAL TO SCHEDULE D, PART XI, LINE 8: -7,176,160. PART XII, LINE 2D - OTHER ADJUSTMENTS: INSTITUTIONAL STUDENT AID NETTED AGAINST TUITION AND FEES -5,681,367. BANK FEES AND BAD DEBT RECLASSED TO FUNCTIONAL EXPENSE -15,828. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -299,681. CHANGE IN MARKET VALUE OF SWAP AGREEMENT -6,876,479. FUNDRAISING COSTS RELATED TO CAPITAL GIFTS -1,092,582. PART XIII, LINE 4B - OTHER ADJUSTMENTS: INSTITUTIONAL STUDENT AID NETTED AGAINST TUITION AND FEES 5,681,367. BANK FEES AND BAD DEBT RECLASSED TO FUNCTIONAL EXPENSE 15,828. FUNDRAISING COSTS RELATED TO CAPITAL GIFTS 1,092,582. 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 REGENTS OF THE MERCERSBURG COLLEGE PUBLICIZES ITS RACIALLY NON-DISCRIMINATORY POLICY ANNUALLY IN THE WASHINGTON POST, IN THE FALL OF EACH YEAR. THE MOST RECENT NOTICE WAS POSTED IN THE DECEMBER 06, 2010 ISSUE. EAST ASIA AND THE PACIFIC 0 0 FUNDRAISING SOLICITING GIFTS 4014 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 FUNDRAISING ALUMNI EVENT 2885 EUROPE (INCLUDING ICELAND & GREENLAND) 6 PROGRAM SERVICES AGENT/CONSULTANT USED TO COORDINATE STUDENTS' TRAVEL TO THE USA FOR SUMMER AND EXTENDED PROGRAMS 15768 EAST ASIA AND THE PACIFIC 3 PROGRAM SERVICES AGENT/CONSULTANT USED TO COORDINATE STUDENTS' TRAVEL TO THE USA FOR SUMMER AND EXTENDED PROGRAMS 9920 NORTH AMERICA 1 PROGRAM SERVICES AGENT/CONSULTANT USED TO COORDINATE STUDENTS' TRAVEL TO THE USA FOR SUMMER AND EXTENDED PROGRAMS 2480 RUSSIA & THE NEWLY INDEPENDENT STATES 1 PROGRAM SERVICES AGENT/CONSULTANT USED TO COORDINATE STUDENTS' TRAVEL TO THE USA FOR SUMMER AND EXTENDED PROGRAMS 770 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES STUDENT SERVICE/ACADEMIC TRIP 22991 SOUTH ASIA 0 0 PROGRAM SERVICES STUDENT SERVICE/ACADEMIC TRIP 40994 RUSSIA & THE NEWLY INDEPENDENT STATES 0 0 PROGRAM SERVICES STUDENT SERVICE/ACADEMIC TRIP 23467 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDENT SERVICE/ACADEMIC TRIP 44813 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDENT SERVICE/ACADEMIC TRIP 33384 EAST ASIA AND THE PACIFIC 1 PROGRAM SERVICES USE OF AGENT/CONSULTANT TO ASSIST IN RECRUITING INTERNATIONAL STUDENTS (ADMISSION) 7044 EUROPE (INCLUDING ICELAND & GREENLAND) 1 PROGRAM SERVICES USE OF AGENT/CONSULTANT TO ASSIST IN RECRUITING INTERNATIONAL STUDENTS (ADMISSION) 52715 RUSSIA & THE NEWLY INDEPENDENT STATES 1 PROGRAM SERVICES USE OF AGENT/CONSULTANT TO ASSIST IN RECRUITING INTERNATIONAL STUDENTS (ADMISSION) 7043 NORTH AMERICA 2 PROGRAM SERVICES USE OF AGENT/CONSULTANT TO ASSIST IN RECRUITING INTERNATIONAL STUDENTS (ADMISSION) 4695 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES SCHOOL'S EFFORTS IN RECRUITING STUDENTS FOR BOTH ADMISSION AND SUMMER AND EXTENDED PROGRAMS 3000 NORTH AMERICA 0 0 PROGRAM SERVICES SCHOOL'S EFFORTS IN RECRUITING STUDENTS FOR BOTH ADMISSION AND SUMMER AND EXTENDED PROGRAMS 4300 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES SCHOOL'S EFFORTS IN RECRUITING STUDENTS FOR BOTH ADMISSION AND SUMMER AND EXTENDED PROGRAMS 5800 RUSSIA & THE NEWLY INDEPENDENT STATES 0 0 PROGRAM SERVICES SCHOOL'S EFFORTS IN RECRUITING STUDENTS FOR BOTH ADMISSION AND SUMMER AND EXTENDED PROGRAMS 3200 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES SCHOOL'S EFFORTS IN RECRUITING STUDENTS FOR BOTH ADMISSION AND SUMMER AND EXTENDED PROGRAMS 13750 NORTH AMERICA 0 0 PROGRAM SERVICES SCHOOL'S EFFORTS IN RECRUITING STUDENTS FOR BOTH ADMISSION AND SUMMER AND EXTENDED PROGRAMS 1500 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES SCHOOL'S EFFORTS IN RECRUITING STUDENTS FOR BOTH ADMISSION AND SUMMER AND EXTENDED PROGRAMS 15000 0 11 0 5 0 16 99822 219711 319533 0 0 0 1 0 1 FORM 5713 SCHEDULE F, PART IV, QUESTION 6 THE ORGANIZATION HAS SOME ACTIVITY OVERSEAS WHICH REQUIRES IT TO CHECK BOX 6, OF PART IV OF SCHEDULE F AS YES FOR FORM 5713, HOWEVER, THE ORGANIZATION DOES HAVE UNRELATED BUSINESS INCOME AND IS REQUIRED TO FILE A FORM 990-T. HOWEVER, NONE OF THE UNRELATED BUSINESS TAXABLE INCOME IS REALTED TO ANY BOYCOTTING COUNTRY. IN ADDITION, THE ORGANIZATION HAS NOT ENTERED INTO AGREEMENTS RELATED TO THE ISSUES AS PRESENTED IN FORM 5713. X X X X 1 GRENZEBACH GLIER AND ASSOCIATES 401 N MICHIGAN AVE STE 2800 CHICAGO IL 606114217 CAPITAL CAMPAIGN CONSULTING 0 0 25000 -25000 25000 -25000 PA 1 SCHOLARSHIPS 229 5575870 STUDENT AID FOR REQUIRED FEES, BOOKS AND SUPPLIES 20 34000 STUDENT SERVICE/CULTURAL TRIP 8 17610 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: SINCE 1893, MERCERSBURG ACADEMY HAS, WITH EXTENSIVE HELP FROM ALUMNI, FAMILY AND FRIENDS OF THE SCHOOL, OFFERED STUDENTS FINANCIAL AID BASED PRIMARILY UPON DEMONSTRATED FINANCIAL ELIGIBILITY. MERCERSBURG CURRENTLY ADMINISTERS A GENEROUS FINANCIAL AID PROGRAM THAT FUNDS OVER 40 PERCENT OF THE STUDENT BODY. UNDERSTANDING THAT A MERCERSBURG EDUCATION IS A SIGNIFICANT INVESTMENT, THE FINANCIAL AID COMMITTEE WORKS TO DETERMINE A FAIR ASSESSMENT OF A FAMILY'S ABILITY TO PROVIDE THEIR CHILDREN WITH THE OUTSTANDING EDUCATION AVAILABLE HERE. MERCERSBURG ENCOURAGES FAMILIES WITH LIMITED MEANS TO APPLY FOR ASSISTANCE BASED UPON THE ASSUMPTION THAT THE PRIMARY OBLIGATION FOR FINANCING A STUDENT'S EDUCATION RESTS SOLELY WITH THE FAMILY. THE ACADEMY FURTHER EXPECTS THAT A FAMILY IS WILLING TO MAKE SIGNIFICANT ADJUSTMENTS IN THE USE OF ITS DISCRETIONARY RESOURCES, AS WELL AS ACCESS ANCILLARY RESOURCES AVAILABLE THROUGH FAMILY, WORK, AND LOCAL ORGANIZATIONS. IN EVERY INSTANCE, THE FINANCIAL AID COMMITTEE SEEKS EVIDENCE THAT A FAMILY'S COMMITMENT TO THEIR CHILD'S EDUCATION IS AT LEAST AS STRONG AS THE ACADEMY'S. IN ORDER TO DETERMINE A FAMILY'S ELIGIBILITY TO RECEIVE FINANCIAL AID IN A FAIR AND EQUITABLE MANNER, MERCERSBURG REQUIRES THAT ALL APPLICANTS COMPLETE THE PARENT FINANCIAL STATEMENT (PFS) WITH THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSS) FOR EACH YEAR OF MATRICULATION. X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 T DOUGLAS HALE 312257 0 58755 0 25000 0 24050 0 10729 0 430791 0 0 0 MARIA KIMSEY 188239 0 0 0 3600 0 16920 0 5769 0 214528 0 0 0 MARY CARRASCO 168179 0 0 0 3600 0 15838 0 14470 0 202087 0 0 0 MARY D RUTHERFORD 144885 0 0 0 4324 0 13000 0 5646 0 167855 0 0 0 TOMMY ADAMS 135958 0 0 0 11972 0 11408 0 12866 0 172204 0 0 0 WILLIAM MCCLINTICK 98835 0 0 0 10575 0 8901 0 51886 0 170197 0 0 0 PART I, LINE 1A PART I, LINE 1A: T. DOUGLAS HALE RECEIVED TAXABLE GROSS-UP PAYMENT IN THE AMOUNT OF $9,752. THE DISCRETIONARY ACCOUNT IS ONLY ASSOCIATED WITH SCHOOL BUSINESS AND IS NOT FOR PERSONAL EXPENSES. THE HEAD OF SCHOOL IS REQUIRED TO LIVE ON CAMPUS. THE HOUSE IS USED REGULARLY FOR SCHOOL FUNCTIONS INCLUDING STUDENT DINNERS, BOARD ENTERTAINMENT, ALUMNI EVENTS AND HOSTING OVERNIGHT TEACHER CANDIDATES AND SPEAKERS. T. DOUGLAS HALE, HEAD OF SCHOOL, RECEIVED NON-TAXABLE HOUSING ALLOWANCE IN THE AMOUNT OF $17,950 FOLLOWING EMPLOYEES RECEIVED TAXABLE HOUSING ALLOWANCE: MARIA KIMSEY - $3,600 MARY CARRASCO - $3,600 MERCERSBURG BOROUGH GENERAL PURPOSE AUTHORITY 236002995 2009-12-18 30000000 REFUND 2000A & 2000B BOND ISSUES 0 0 0 MERCERSBURG BOROUGH GENERAL PURPOSE AUTHORITY 236002995 2010-02-17 19235000 REFUND 2000B & 2005 BOND ISSUES 0 0 0 30000000 30000000 2010 1 0 1 1 19235000 120000 19115000 2010 1 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 1 SUNTRUST BANK 22.000000000000 0 0 0 0 1 0 1 1 SUNTRUST BANK 22.000000000000 0 0 0 0 1 X MR BRUCE ECKERT BOARD MEMBER 78929 WORKER'S COMP INSURANCE PREMIUM 0 X 1 55000 APPRAISAL X 620 INVOICES X 20 109872 AVERAGE OF HIGH/LOW X EVENT CATERING 7 29490 INVOICES X GIFT CERTIFICATES 1 1000 VALUE OF CERTIFICATE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS PROVIDED TO EACH BOARD MEMBER AND OFFICER ELECTRONICALLY FOR THEIR INDEPENDENT REVIEW BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, TRUSTEES, AND ALL EMPLOYEES ARE REQUIRED ANNUALLY TO PREPARE A "CONFLICT OF INTEREST POLICY QUESTIONNAIRE" DISCLOSING BUSINESSES, ACTIVITIES, AND/OR RELATIONSHIPS THAT MAY GIVE RISE TO CONFLICTS. THESE ARE REVIEWED, AND ADDRESSED AS NECESSARY, BY MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 15 THE OFFICERS OF MERCERSBURG ACADEMY'S BOARD DELIBERATE ON, REVIEW, AND APPROVE THE SALARY OF THE HEAD OF SCHOOL. THESE BOARD OFFICERS HAVE FULL COMPARABILITY DATA AVAILABLE FROM BOTH ABOPS AND NAIS TO AID IN SUCH DELIBERATIONS. THE RESULTS OF THE DELIBERATIONS, REVIEW, AND SALARY APPROVAL PROCESS ARE THEN SHARED WITH THE ENTIRE BOARD WHEN THE HEAD OF SCHOOL UNDERGOES ANOTHER REVIEW BY THE FULL BOARD AT THE MAY MEETINGS. THE COMPLETION OF THAT DELIBERATION, REVIEW, AND APPROVAL PROCESS IS RECORDED IN THE MINUTES OF THE MAY BOARD MEETINGS. THE OFFICERS OF MERCERSBURG ACADEMY'S BOARD DISCUSS, REVIEW, AND APPROVE THE RECOMMENDATION FROM THE HEAD OF SCHOOL CONCERNING THE SALARIES OF THE TOP FOUR HIGHEST PAID EMPLOYEES OF THE SCHOOL, NOT INCLUDING THE HEAD OF SCHOOL. THESE BOARD OFFICERS ALSO HAVE FULL COMPARABILITY DATA AVAILABLE FROM BOTH ABOPS AND NAIS TO AID IN THEIR DELIBERATIONS. FORM 990, PART VI, SECTION C, LINE 19 FORM 990, PART VI, SECTION C, LINE 19: GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST OR AT THE BUSINESS OFFICE, MERCERSBURG ACADEMY. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -4,937,935. PRIOR PERIOD ADJUSTMENTS: 1,147,986. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -299,681. CHANGE IN MARKET VALUE OF SWAP AGREEMENT -6,876,479. TOTAL TO FORM 990, PART XI, LINE 5: -10,966,109.