2013-05-15T08:28:38-05:00 2012-06-30 510232475 Cover & Rossiter PA 62 Rockford Road Wilmington DE 198061004 990 2011-07-01 510079506 St Andrew's School Of Delaware Inc STAN 3023789511 350 Noxontown Road Middletown DE 19709 Diane Winiarczyk 3023789511 2013-05-13 1 Peter Kennedy P00571422 3026566632 2013-05-13 2011 2016-02-25 16:41:14Z Diane Winiarczyk 350 Noxontown Road Middletown DE 19709 43562636 0 X www.standrews-de.org X 1929 DE St. Andrew's School is a coed boarding school, grades 9 through 12. 30 29 226 0 0 10584 9749805 6213976 12959569 14137436 11073670 4588200 47539 34482 33830583 24974094 4408202 4989972 0 0 10654137 11863629 10932 0 1322318 7225257 8140461 22298528 24994062 11532055 -19968 301142055 292149725 48366232 47494822 252775823 244654903 X The School's mission is to provide secondary education of a definitely Christian character at a minimum cost consistent with modern equipment and highest standards. St. Andrew's School is a coed boarding school of students and faculty who live on a pristine 2,200-acre campus, learning together and collaborating to pursue their passions in academics, athletics, service, and the arts. 0 0 21522680 4989972 14146746 The School is a coed boarding school, grades 9 through 12, providing a secondary education of a definitely Christian character in an entirely residential program. During fiscal year 11/12, the School enrolled 298 students & graduated 81, of whom all enrolled in college or university. 21522680 1 1 0 0 0 0 0 0 0 1 1 1 1 1 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 1 46 0 1 226 1 1 1 1 CJ UK 0 0 0 0 0 0 0 0 X 30 29 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Diane Winiarczyk 3023789511 350 Noxontown Road Middletown DE 19709 KATHARINE DUPONT GAHAGAN 10.00 X X 0 0 0 J KENT SWEEZEY 20.00 X X 0 0 0 SCOTT M SIPPRELLE 5.00 X X 0 0 0 CAROLINE DUPONT PRICKETT 5.00 X 0 0 0 ELIZABETH KIRKLAND CAHILL 5.00 X 0 0 0 THOMAS M BELK JR 5.00 X 0 0 0 CRISTINA STENBECK FITZGIBBONS 5.00 X 0 0 0 SPENCER C FLEISCHER 5.00 X 0 0 0 SABINA B FORBES 5.00 X 0 0 0 J REX FUQUA 5.00 X 0 0 0 ROBERT G GAHAGAN 5.00 X 0 0 0 JASON L GARDNER 5.00 X 0 0 0 MONIE T HARDWICK 5.00 X 0 0 0 THOMAS H HOOPER III 5.00 X 0 0 0 ALEXANDER P LYNCH 5.00 X 0 0 0 CAROLYN M MATTHEWS 5.00 X 0 0 0 ARTHUR M MILLER 5.00 X 0 0 0 GAY KENNEY BROWNE 5.00 X 0 0 0 ANNE T EGAN 5.00 X 0 0 0 TIMOTHY W PETERS 5.00 X 0 0 0 SALLY E PINGREE 5.00 X 0 0 0 HALIMAH DELAINE PRADO 5.00 X 0 0 0 HENRY DUPONT RIDGELY 5.00 X 0 0 0 H HICKMAN ROWLAND JR 5.00 X 0 0 0 MORGAN F ROBINSON 5.00 X 0 0 0 EDWARD M STRONG 5.00 X 0 0 0 ALEXANDER STUART 5.00 X 0 0 0 RICHARD B VAUGHAN 10.00 X 0 0 0 REV WAYNE P WRIGHT 5.00 X 0 0 0 WILLIAM H BROWNLEE 5.00 X 0 0 0 FRANCIS GIAMMATTEI JR 5.00 X 0 0 0 MAUREEN K HARRINGTON 5.00 X 0 0 0 HENRY N HERNDON JR 5.00 X 0 0 0 STEVEN B PFEIFFER 5.00 X 0 0 0 HENRY H SILLIMAN JR 5.00 X 0 0 0 DANIEL T ROACH JR 65.00 X 327680 0 88722 DIANE L WINIARCZYK 60.00 X 152965 0 79093 MICHAEL C SCHULLER 50.00 X 173146 0 74125 WILLIAM SPEERS 50.00 X 125575 0 67730 GORDON BROWNLEE 50.00 X 128584 0 55570 LOUISA ZENDT 50.00 X 104544 0 24840 1012494 0 390080 6 0 1 0 Warfel Construction Company 812 N Prince Street Lancaster PA 17604 Construction 2586264 Nowland Associates 2009 Ogletown Road Newark DE 19711 Construction 1182747 Prime Buchholz & Associates Inc PO Box 16011 Lewiston ME 04243 Financial Services 225782 Pavsner press Inc PO Box 18455 Baltimore MD 21237 Printing 108359 Apex Engineering Inc 27 West Market Street Newport DE 19804 Engineering 102433 5 6213976 200567 6213976 TUITION 611600 13982500 13982500 STUDENT FEES 611600 113230 113230 AUXILIARY SERVICES 611600 41706 41706 14137436 379699 379699 105683 73814 31869 31869 31869 22560044 18351543 4208501 4208501 4208501 156488 163185 -6697 -6697 OTHER REVENUE 611600 9310 9310 9310 24974094 14146746 0 4613372 4989972 4989972 650661 410772 239889 7583339 6103732 743553 736054 1368208 1082487 163414 122307 1641093 1398193 104383 138517 620328 490786 74090 55452 28947 28947 62447 62447 264040 264040 152051 152051 20000 20000 361058 274772 42746 43540 226079 132888 87813 5378 1076539 1076539 217133 141177 2849 73107 41014 27282 13732 1773338 1773338 46733 46733 FOOD SERVICE COSTS 1245019 1245019 REPAIRS & MAINTENANCE 1026656 986131 40525 EQUIPMENT ACQUISITIONS 410305 410305 PRINTING AND PUBLICATIO 201577 69519 57495 74563 987525 737717 176408 73400 24994062 21522680 2149064 1322318 3992177 2498879 8839765 6906756 63008 129917 119131 114969 1562928 1431248 119653018 0 117039605 119653018 131792748 118004174 33694565 37913801 1426522 1426522 2611606 4070441 301142055 292149725 3077999 1543715 39250507 39229413 6037726 6721694 48366232 47494822 X 205876458 195778715 6075059 3796625 40824306 45079563 252775823 244654903 301142055 292149725 X -19968 -8100952 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 177267986 1877322 -2348121 8809533 167987654 157556084 4177159 24011555 8476812 177267986 148868976 1938053 14713049 7963994 157556084 198052617 1196257 -40753244 9626654 148868976 0.73300 0.25120 0.01580 0 0 8028754 8028754 110937214 110937214 687050 687050 119653018 HEDGE FUNDS AND PRIVATE EQUITY - LEVEL 3 VALUATIONS 37913801 F 37913801 LAND HELD FOR INVESTMENT 1426522 C 1426522 CHARITABLE REMAINDER TRUSTS 3920051 CSV - LIFE INSURANCE POLICIES 150390 4070441 STUDENT TUITION DEPOSITS 1589218 DEFERRED INCOME 66916 CHARITABLE REMAINDER TRUST 159103 RETIREE INSURANCE OBLIGATION 653518 UNDERFUNDED PENSION LIABILITY 2913056 LIABILITY ON INTEREST RATE SWAP AGREEMENT 1339883 6721694 24974094 24994062 -19968 -6923287 -1177665 -8100952 -8120920 25707179 -6923287 7746130 822843 24884336 89758 89758 24974094 33828099 8923803 8923803 24904296 89766 89766 24994062 Description of Intended Use of Endowment Funds: Part V, Line 4: The School's endowment fund supports scholarships and operation of the education program. Description of Uncertain Tax Positions Under FIN 48: Part X: Line 2: The School has adopted the provisions of FASB ASC 740-10-50, Accounting for Uncertainty in Income Taxes. Management continually evaluates uncertain tax positions and expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings, as applicable. Management's evaluation is that there is no income tax liability. This evaluation is based on settled and established positions within the Internal Revenue Code and management believes there is no significant uncertainty related to its evaluation. Part XI, Line 8 - Other Adjustments: Interest rate swap adjustment -233,164. PENSION FUNDING FROM ENDOWMENT -948,892. MISC ADJUSTMENTS AND REFUNDS 4,391. Total to Schedule D, Part XI, Line 8: -1,177,665. Part XII, Line 2d - Other Adjustments: ENDOWMENT DRAW 7,641,062. PRRSM FUNDING - CAPITAL EXPENSES 70,500. NET LOSS ON SALE OF INVENTORY 6,697. CREDIT CARD AND BANK FEES 23,488. Foreign Exchange loss 4,383. Part XII, Line 4b - Other Adjustments: AUXILIARY PROGRAM INCOME 56,314. FARM INCOME 31,869. RODNEY POINT INCOME 1,575. Part XIII, Line 2d - Other Adjustments: ENDOWMENT DRAW 7,641,062. PRRSM FUNDING - CAPITAL EXPENSES 70,500. NET LOSS ON SALE OF INVENTORY 6,697. CREDIT CARD AND BANK FEES 23,488. Interest rate swap adjustment 233,164. PENSION FUNDING FROM ENDOWMENT 948,892. Part XIII, Line 4b - Other Adjustments: RODNEY POINT INCOME 1,575. AUXILIARY PROGRAM INCOME 56,314. FARM INCOME 31,869. CLASS ACTION PROCEEDS 8. 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 Admissions brochures; ADVIS (Association Of Delaware Valley Independent Schools) public information ad carried in numerous area newspapers Caribbean 0 0 Investment 83814445 Europe 0 0 Investment 5672397 0 0 0 0 0 0 89486842 0 89486842 0 0 0 0 0 0 Method Used to Acccount for Expenditures: Schedule F, Part I, Line 3: FMV 1 SCHOLARSHIPS 140 4989971 FMV Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Scholarship assistance is provided on the basis of need and applicants are evaluated by the School's Financial Aid Committee against established criteria. X X X 1 1 X X X 0 1 0 0 0 0 0 0 0 DANIEL T ROACH JR 327680 0 0 0 0 0 41676 0 55126 0 424482 0 0 0 DIANE L WINIARCZYK 152965 0 0 0 0 0 15920 0 64769 0 233654 0 0 0 MICHAEL C SCHULLER 173146 0 0 0 0 0 31825 0 50598 0 255569 0 0 0 WILLIAM SPEERS 125575 0 0 0 0 0 11570 0 58261 0 195406 0 0 0 GORDON BROWNLEE 128584 0 0 0 0 0 13270 0 52436 0 194290 0 0 0 Part I, Line 1a The School provides housing for the Headmaster, Assistant Headmaster, Dean of Faculty and the Director of Institutional Planning as conditions of employment. All are considered to be key or highly compensated employees and as such are listed on the Form 990, Part VII. Part I, Line 4b The Headmaster, Daniel T. Roach, Jr. and Director of Institutional Planning, Michael C. Schuller, are participants in a nonqualified Section 457 Plan. The School made a contribution of $16,500 and $15,500 for each respectively, during the year ended 6/30/12. Delaware Economic Development Authority 510269736 246387LU6 2002-08-01 10000000 Planned campus improvements and construction 0 0 0 New Castle County Delaware 516000160 2008-12-23 9000000 Planned campus improvements and construction 0 0 0 Delaware Economic Development Authority 510269736 246387PG3 2010-11-10 24000000 Refinance Series 2004 Bonds & a portion of Series 2008 Bonds 0 0 0 10000000 5000000 183281 5000000 2003 1 0 1 1 4000000 9000000 99633 9000000 2010 0 0 1 1 24000000 262811 24000000 2011 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 0 0 0 0.00000 0.00000 0.00000 1 0 1 1 Bank of America 10.000000000000 0 1 0 0 1 0 1 1 Bank of America 15.000000000000 0 0 0 0 1 0 0 0 NA 0 0 0 0 1 Timothy W Peters Member of the Board of Trustees 2586264 Trustee Timothy W. Peters is a former shareholder of Warfel Construction Company, the general contractor on the fieldhouse construction project. The School accepted bids for the work and Warfel Construction Company was the lowest bid; in addition, the St. Andrew's School Board of Directors was aware of the relationship and approved the contract prior to the School's hiring Warfel Construction Company. 0 X 10 200567 Fair market value 0 1 1 Third Party Use: Part I, Line 32b: The School uses a brokerage account with an unrelated financial institution to process non-cash contributions of stock. Form 990, Part VI, Section A, line 2 Some Trustees have a common family relationship. Form 990, Part VI, Section B, line 11 Form 990 is reviewed by the CFO, the Chair of Finance Committee and the President of the Board. It is then made available to all Board Members prior to filing. Form 990, Part VI, Section B, line 12c Trustees are required to annually sign conflict of interest statements and disclose any known or potential conflicts of interest in these statements. Form 990, Part VI, Section B, line 15 St. Andrew's School's Trustees are all independent of the School's paid employees. Annually, the Trustees will make compensation decisions for its employees with no input from the employees themselves. Employees are not present when votes on compensation decisions are held and those votes are formally documented in the meeting minutes within one week of the meeting. The Trustees' decisions are based on their extensive knowledge and experience with compensation practices of other comparable organizations. Form 990, Part VI, Section C, line 19 There currently exists no legal requirement to make governing documents, conflict of interest policies or audited financial statements publicly available. St. Andrew's School of DE, Inc. has never received a request for information of this type. If any requests for this information should be received, they would be evaluated by the Trustees on a case by case basis. In general, the Trustees believe that the information available on this form (the 2011 Form 990) would be more than sufficient to respond to most legitimate inquiries. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized losses on investments: -6,923,287. Interest rate swap adjustment -233,164. PENSION FUNDING FROM ENDOWMENT -948,892. MISC ADJUSTMENTS AND REFUNDS 4,391. Total to Form 990, Part XI, Line 5: -8,100,952. Form 990, Part XI, Line 2c: The School has an Audit & Finance Committee that assumes responsibility for oversight of the financial statement audit and the selection of the independent auditors. St Anne's Episcopal School Inc 211 Silver Lake Road Middletown DE 19709 510404800 Educational Institution DE 501(c)(3) 509(a)(1) 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 St Anne's Episcopal School Inc I 1 CONTRACT AGREEMENT St Anne's Episcopal School Inc Q 136950 FMV