2013-02-05T13:56:30-06:00 2012-06-30 232932984 PARENTEBEARD LLC 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990 2011-07-01 231352625 CHESTNUT HILL ACADEMY CHES 2152474700 500 W WILLOW GROVE AVE PHILADELPHIA PA 19118 FRANK V ALOISE JR 2152474700 2013-02-01 1 JULIUS GREEN CPA P00350393 2159720701 2011 2016-03-07 17:11:31Z FRANK V ALOISE JR 500 W WILLOW GROVE AVE PHILADELPHIA PA 19118 15301043 0 X WWW.SCH.ORG X 1861 PA TO PROMOTE EDUCATION, INSTRUCTION AND TRAINING OF CHILDREN AND YOUNG PEOPLE. 32 30 198 32 0 0 3578814 1107117 12177707 12571783 599371 343695 176334 188150 16532226 14210745 2300665 2379665 0 0 8210641 8335481 0 0 846685 6318486 6309635 16829792 17024781 -297566 -2814036 57338509 52380717 22029374 21332056 35309135 31048661 X AT SPRINGSIDE CHESTNUT HILL ACADEMY WE EDUCATE STUDENTS TO BE INNOVATIVE LEADERS, BREAKTHROUGH THINKERS, AND IMAGINATIVE PROBLEM SOLVERS. WE CHALLENGE STUDENTS TO LEARN IN POWERFUL NEW WAYS, ENGAGE IN ACTIVE INQUIRY, HONE SKILLS OF CREATIVE AND ANALYTIC THINKING, AND CELEBRATE THE JOY OF DISCOVERY. THROUGH A RIGOROUS COLLEGE-PREPARATORY PROGRAM GROUNDED IN PROJECT- AND PASSION-BASED LEARNING, WE PREPARE OUR STUDENTS FOR THEIR FUTURE AS ACTIVE LEARNERS AND RESPONSIBLE GLOBAL CITIZENS. BLENDING THE BEST OF SINGLE-SEX EDUCATION AND COEDUCATION, WE EMPOWER AND PREPARE OUR YOUNG MEN AND WOMEN TO MEET CHALLENGES WITH COURAGE, INTEGRITY, AND RESPECT. 1 1 14590222 2379665 12571783 SCH ACADEMY IS THE ONLY INDEPENDENT SCHOOL IN THE PHILADELPHIA AREA TO OFFER A CURRICULUM BASED ON THE STUDY OF ENTREPRENEURSHIP. THE SCHOOL WAS DESIGNATED BY THE US DEPARTMENT OF EDUCATION AS A 2012 GREEN RIBBON SCHOOL IN RECOGNITION OF ITS ENVIRONMENTAL SUSTAINABILITY EFFORTS. THE SCHOOL HAS THE LARGEST ARRAY OF SOLAR PANELS IN THE CITY OF PHILADELPHIA. THE UPPER SCHOOL ROBOTICS TEAM WAS AWARDED THE FIRST CHAIRMAN'S REGIONAL AWARD, THE FIRST PROGRAM'S MOST PRESTIGIOUS AWARD, IN RECOGNITION OF ITS REPRESENTING A MODEL FOR OTHER TEAMS TO EMULATE, AND EMBODYING THE GOALS AND PURPOSE OF FIRST. SCH ACADEMY HAS AN OUTDOOR AND TRIP PROGRAM THAT PROVIDES STUDENTS FROM 2ND-9TH GRADE WITH OPPORTUNITIES TO BUILD SELF-CONFIDENCE, TEAMWORK, AND A RESPECT FOR NATURE THROUGH A VARIETY OF OUTDOOR EXPERIENCES. THE SCHOOL HAS CREATED TWO NEW DEPARTMENTS, IN NEW MEDIA AND ENGINEERING AND ROBOTICS, WHICH ARE RESPONSIBLE FOR INCORPORATING TEACHING IN THESE AREAS THROUGHOUT THE SCH CURRICULUM. 14590222 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 30 0 1 198 1 0 0 0 0 0 0 0 0 0 0 X 32 30 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X FRANK V ALOISE JR CHIEF FINANCIAL OFFICER 2152474700 500 W WILLOW GROVE AVE PHILADELPHIA PA 19118 RICHARD A HAYNE 4.00 X X 0 0 0 JOHN P MCNIFF 4.00 X X 0 0 0 FRANCIS P STEEL JR 50.00 X X 255452 0 37664 DEBORAH E MAINE 4.00 X X 0 0 0 STEVEN H KAPP 1.00 X 0 0 0 ERIC W NOLL 1.00 X 0 0 0 MIMS MAYNARD ZABRISKIE 4.00 X X 0 0 0 MICHAEL J BARRIST 4.00 X X 0 0 0 ANN-MARIE CORNER 4.00 X X 0 0 0 DR RONNEE ADESANYA 1.00 X 0 0 0 AMY L BANSE 1.00 X 0 0 0 DR CARLA M CANUSO 1.00 X 0 0 0 RUTHIE STRONG FERRARO 1.00 X 0 0 0 THOMAS J FERRARO 1.00 X 0 0 0 PAMELA VON SELDENECK HARRIS 1.00 X 0 0 0 SUZETTE HEARN 1.00 X 0 0 0 ROSALIE HUNTER 1.00 X 0 0 0 STACY P METHVIN 1.00 X 0 0 0 ELLIN DIXON MILLER 1.00 X 0 0 0 HENRY F O'REILLY III 1.00 X 0 0 0 SUZY L O'REILLY 1.00 X 0 0 0 ROBERT M PECK 1.00 X 0 0 0 JOFFIE C PITTMAN 1.00 X 0 0 0 SCOTT RANKIN 1.00 X 0 0 0 AMANDA RICE 1.00 X 0 0 0 MICHAEL SSCHURR 1.00 X 0 0 0 WILLIAM S SMILOW 1.00 X 0 0 0 JAMES M TALBOT II 1.00 X 0 0 0 DR RODNEY TAYLOR 1.00 X 0 0 0 PRISCILLA SANDS 1.00 X 0 554682 24627 BRIAN VOGT 1.00 X 0 0 0 PEGGY STEEL 1.00 X 0 0 0 FRANK V ALOISE JR 50.00 X 0 181410 28265 ELIZABETH RODE 50.00 X 111719 0 17190 MICHEAL DELGRANDE 50.00 X 104691 0 25296 FRANCIS YASHARIAN 50.00 X 106117 0 15423 PETER RANDALL 50.00 X 104471 0 8099 STANLEY PARKER 50.00 X 103048 0 13949 785498 736092 170513 6 0 1 0 YOUR PART TIME CONTROLLER 1500 WALNUT STREET STE 1200 PHILADELPHIA PA 19102 NON-PROFIT ACCOUNTING SERVICES 100669 1 58896 1048221 116118 1107117 TUITION AND FEES 611710 12171808 12171808 FOOD SERVICES 611710 392426 392426 ATHLETIC AND SUMMER PR 611710 7549 7549 12571783 81145 81145 67856 21929 45927 45927 45927 1236649 974099 262550 262550 262550 108134 94270 13864 13864 REFUNDS AND REBATES 611710 33000 33000 TEXTBOOK INCOME 611710 29973 29973 STUDENT BILLINGS 611710 27200 27200 38186 38186 128359 14210745 12571783 0 531845 2379665 2379665 305004 305004 6183269 4823148 889121 471000 427989 335196 57320 35473 905199 783736 83585 37878 514020 416870 61013 36137 14000 14000 37376 37376 148227 148227 37313 37313 230757 97110 107467 26180 23025 17283 5742 443461 371788 26920 44753 56732 40613 15459 660 659640 658873 104 663 84158 74156 7084 2918 1552365 1552365 155876 155876 PLANT OPERATIONS 2039050 1668851 242002 128197 CAFETERIA 527438 470642 10358 46438 STUDENT ACTIVITIES 126179 124880 1299 DUES AND SUBSCRIPTIONS 85946 63356 19039 3551 88092 68490 13806 5796 17024781 14590222 1587874 846685 33563 1500 3312246 1267271 815147 501422 191262 309812 75500 32864 44265 54742 107338 44438681 16101728 29014205 28336953 17653291 19572834 5120366 1000000 1035323 1239322 57338509 52380717 275556 515019 4028335 3340837 14800000 14400000 1287018 311847 1638465 2764353 22029374 21332056 X 17506566 13790421 6292289 5161109 11510280 12097131 35309135 31048661 57338509 52380717 X -2814036 -1446438 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 23407679 641851 -594683 2151617 21303230 19567980 2452418 4662646 3275365 23407679 19267281 1007860 3080946 3788107 19567980 30650644 103799 -7127833 4359329 19267281 0.20000 0.58000 0.22000 1 0 39362152 14262320 25099832 5068679 1836564 3232115 7850 2844 5006 28336953 DISCOUNT FOR FUTURE INTEREST - SPLIT INTEREST ARRANGEMENTS 46371 INTEREST RATE SWAP 2089941 DUE TO AFFILIATE 628041 2764353 14210745 17024781 -2814036 -72343 -1374095 -1446438 -4260474 10463528 -72343 -3753760 -3826103 14289631 37313 -116199 -78886 14210745 14724002 116199 116199 14607803 37313 2379665 2416978 17024781 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE NET INCOME FROM ENDOWMENT FUNDS SUBJECT TO THE SCHOOL'S AUTHORIZED SPENDING POLICY WILL BE USED FOR FINANCIAL AID, FACULTY AND STAFF SALARIES, FACULTY DEVELOPMENT, ATHLETICS, OTHER SCHOOL ACTIVITIES AND GENERAL OPERATIONS OF THE SCHOOL BASED ON DONOR STIPULATIONS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE ORGANIZATION ACCOUNTS FOR UNCERTAINTIES IN INCOME TAXES IN ACCORDANCE WITH AUTHORITATIVE GUIDANCE, WHICH PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. THE ORGANIZATION'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR 2011, 2010, AND 2009 REMAIN SUBJECT TO EXAMINATION BY THE IRS. THE ORGANIZATION'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SWAP AGREEMENT -750,040. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST -8,465. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 1,954. AMORTIZATION OF DISCOUNT ON SPLIT-INTEREST ARRANGEMENTS 4,841. ENDOWMENT RETURN -622,385. TOTAL TO SCHEDULE D, PART XI, LINE 8: -1,374,095. PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -2,379,665. CHANGE IN VALUE OF SWAP AGREEMENT -750,040. AMORTIZATION OF DISCOUNT ON SPLIT-INTEREST ARRANGEMENTS 4,841. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST -8,465. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 1,954. ENDOWMENT RETURN -622,385. PART XII, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -94,270. RENTAL EXPENSES NETTED WITH RENTAL INCOME -21,929. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 94,270. RENTAL EXPENSES NETTED WITH RENTAL INCOME 21,929. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,379,665. 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 THE SCHOOL'S NON DISCRIMINATORY POLICY WAS PUBLISHED IN LOCAL PAPERS IN A SHARED ADD WITH OTHER LOCAL INDEPENDENT SCHOOLS. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 CHESTNUT HILL ACADEMY ANNUALLY RECEIVES A GRANT FROM THE STATE OF PENNSYLVANIA FOR THE PURCHASE OF TEXT BOOKS AND OTHER EDUCATION SUPPLIES. THE STATE DIRECTLY PURCHASES THESE ITEMS BASED ON AN APPLICATION SENT IN BY CHESTNUT HILL ACADEMY. 1 FINANCIAL AID FOR TUITION 182 2379665 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: CHESTNUT HILL ACADEMY SUBSCRIBES TO THE NAIS PRINCIPLES OF GOOD PRACTICE IN FINANCIAL AID ADMINISTRATION AND HAS INCORPORATED THESE INTO ITS SCHOOL-WIDE FINANCIAL AID POLICY. THIS POLICY 1) SUPPORTS CHESTNUT HILL'S COMMITMENT TO ACCESS AND DIVERSITY; 2) ENABLES CHESTNUT HILL TO ENROLL THE BEST AND BRIGHTEST OF ITS APPLICANTS REGARDLESS OF NEED; 3) ENABLES CHESTNUT HILL TO MAINTAIN AND INCREASE ENROLLMENT DURING A PERIOD OF ECONOMIC UNCERTAINTY AND INTENSE COMPETITION AMONG SCHOOLS. 1) A FINANCIAL AID BUDGET IS SET EACH YEAR BY THE TRUSTEES OF CHESTNUT HILL ACADEMY USING INCOME FROM ENDOWED FUNDS AND OPERATING REVENUE. IN SETTING THE BUDGET, THE BOARD CONSIDERS THE LEVEL OF NEED ALREADY EXISTING IN THE SCHOOL BASED ON THE PREVIOUS YEAR'S ALLOCATIONS, AS WELL AS PROPOSED TUITION INCREASES. 2) CHESTNUT HILL STRIVES THROUGH ITS PUBLICATIONS AND FACE-TO-FACE CONTACTS TO PUBLICIZE AND EXPLAIN ITS FINANCIAL AID PROGRAM AND TO DISCLOSE ALL INFORMATION PERTAINING TO THE COST OF A CHESTNUT HILL EDUCATION. 3) ALLOCATION OF FINANCIAL AID FUNDS IS CARRIED OUT BY A COMMITTEE OF ADMISSION OFFICERS AND THE DIRECTOR OF FINANCE AND OPERATIONS; FILES ARE MAINTAINED BY THE ADMISSIONS ASSISTANT. 4) CHESTNUT HILL DOES NOT DISCRIMINATE IN ITS FINANCIAL AID ALLOCATIONS ON THE BASIS OF RACE, COLOR, RELIGION OR NATIONAL ORIGIN; CHESTNUT HILL DOES NOT USE FINANCIAL NEED AS A CONSIDERATION IN DETERMINING A STUDENT'S ELIGIBILITY FOR ADMISSION; THE SCHOOL USES A UNIFORM METHODOLOGY TO ASSESS ANNUALLY, IN A CONSISTENT AND EQUITABLE MANNER, EACH FAMILY'S ABILITY TO PAY FOR EDUCATION. A) CHESTNUT HILL RECOGNIZES THAT PRIMARY RESPONSIBILITY FOR FINANCING A STUDENT'S EDUCATION RESTS WITH THE FAMILY, AND THAT THE FAMILY WILL HAVE SOUGHT FUNDS FROM ALL SOURCES INCLUDING EMPLOYMENT, RELATIVES, ASSETS, AND THE ELLIS FOUNDATION (IF ELIGIBLE) IN ADDITION TO SEEKING AID FROM CHESTNUT HILL. B) ASSESSMENT OF NEED IS DETERMINED BY THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSS) IN PRINCETON, NEW JERSEY, FOLLOWING THE FAMILY'S SUBMISSION OF A COMPLETED PARENTS' FINANCIAL STATEMENT, SUPPLEMENTED BY A COPY OF THE MOST RECENT IRS 1040 FORM AND A RECENT PAYSTUB TO VERIFY EARNINGS. ASSESSMENT OF NEED MAY REQUIRE FURTHER VERIFICATION. NO FINANCIAL AID AWARD WILL EXCEED A FAMILY'S DEMONSTRATED NEED. C) IN AWARDING AID, THE COMMITTEE TAKES INTO ACCOUNT THE NUMBER, AGES AND SCHOOLS OF CHILDREN, ADDITIONAL DEPENDENTS, ALL SOURCES OF INCOME INCLUDING THE STUDENT'S OWN INCOME, DEBTS AND UNUSUAL EXPENSES, SPENDING PRIORITIES, AND WHETHER A SECOND WORKING PARENT IS CONTRIBUTING TO FAMILY INCOME WHERE POSSIBLE. D) IN CASES OF DIVORCE OR SEPARATION, CHESTNUT HILL REQUIRES A COMPLETED PARENTS' FINANCIAL STATEMENT FROM THE NON-CUSTODIAL PARENT, WHETHER OR NOT THE NON-CUSTODIAL PARENT SHARES IN THE COST OF EDUCATION. IF THE STUDENT RESIDES WITH A STEP-PARENT, CHESTNUT HILL REQUIRES A PFS FROM THE STEP-PARENT. 5) CHESTNUT HILL STRIVES TO MAKE AWARDS AS CLOSE TO DEMONSTRATED NEED (BASED ON THE PFS) AS POSSIBLE, BUT ALSO EXPECTS THAT EACH FAMILY WILL CONTRIBUTE AN APPROPRIATE PORTION OF TUITION AND FEES. A) EXCEPTIONS TO THIS ARE THE SPECIALLY ENDOWED NEIGHBORHOOD SCHOLARSHIP COMPETITION WINNERS IN GRADES SIX AND UP, WHOSE AID MAY CONSIST OF FULL TUITION, AS LONG AS THERE IS DEMONSTRATED FULL NEED. 6) AWARDS ARE MADE ON A ONE-YEAR BASIS AND REQUIRE RE-APPLICATION EVERY YEAR. FAMILIES ALREADY IN THE SCHOOL HAVE PRIORITY OVER NEW FAMILIES, AS LONG AS THEY MEET THE APPLICATION DEADLINE. CHESTNUT HILL IS COMMITTED TO SUPPORTING A STUDENT THROUGH GRADUATION AT THE SAME LEVEL OF FUNDING UNLESS THERE IS A CHANGE IN FINANCIAL CIRCUMSTANCES. A) AN AWARD IS CONTINGENT UPON THE FAMILY'S MEETING ITS FINANCIAL OBLIGATION TO CHESTNUT HILL FOR THE CURRENT YEAR. B) CHESTNUT HILL DOES NOT SET DIFFERENT STANDARDS OF BEHAVIOR OR ACADEMIC PERFORMANCE FOR FINANCIAL AID RECIPIENTS; HIGH ACADEMIC STANDARDS AND EXEMPLARY CITIZENSHIP ARE EXPECTED OF ALL STUDENTS. HOWEVER, STUDENTS ON ACADEMIC OR DISCIPLINARY PROBATION MAY LOSE THEIR ELIGIBILITY FOR FINANCIAL AID, AT THE DISCRETION OF THE HEAD OF SCHOOL. 7) CHESTNUT HILL HAS A FORMAL REVIEW PROCEDURE FOR FAMILIES WHO WISH TO REQUEST ADDITIONAL FUNDING, WHICH REQUIRES A WRITTEN APPEAL AND A SECOND MEETING OF THE FINANCIAL AID COMMITTEE. 8) CHESTNUT HILL SAFEGUARDS THE CONFIDENTIALITY OF ALL FINANCIAL INFORMATION SUPPLIED BY A FAMILY, AND SHALL REFRAIN FROM AND DISCOURAGE OTHERS FROM MAKING ANY PUBLIC ANNOUNCEMENT OF THE AMOUNT OF FINANCIAL AID AWARDED TO A STUDENT. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 FRANCIS P STEEL JR 255452 0 0 0 0 0 22000 0 15664 0 293116 0 0 0 PRISCILLA SANDS 0 554682 0 0 0 0 0 18437 0 6190 0 579309 0 0 FRANK V ALOISE JR 0 181410 0 0 0 0 0 9512 0 18753 0 209675 0 0 PART I, LINE 1A THE SCHOOL PROVIDES A PERSONAL RESIDENCE FOR THE HEADMASTER. IN ADDITION, THE SCHOOL PAID DUES FOR THE PHILADELPHIA CRICKET CLUB. BOTH BENEFITS ARE MANDATORY PER THE HEAD OF SCHOOL'S EMPLOYMENT CONTRACT AND ARE CONSIDERED NECESSARY DUE TO THE AMOUNT OF BUSINESS-RELATED ENTERTAINING AND DEVELOPMENT PERFORMED BOTH ON AND OFF-SITE. THESE BENEFITS ARE NOT INCLUDED AS TAXABLE COMPENSATION. PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT 232237287 717818Q50 2005-12-08 8000000 ACQUISITION, CONSTRUCTION, RENOVATION AND FURNISHING OF SCHOOL FACILITIES 0 0 0 PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT 232237287 7178182N7 2007-12-06 8000000 ACQUISITION, CONSTRUCTION, RENOVATION AND FURNISHING OF SCHOOL FACILITIES 0 0 0 1000000 8000000 131871 7868129 2006 0 0 1 1 600000 8000000 162750 7837250 2009 0 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 0 0 0 0 0 1 0 0 0 0 X X 58896 FAIR MARKET VALUE X 3 57222 FAIR MARKET VALUE 0 1 0 NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 THE SCHOOL INTRODUCED A NEW COMPONENT TO ITS TRADITIONAL, RIGOROUS COLLEGE PREP PROGRAM UNDER THE NAME OF THE CENTER FOR ENTREPRENEURIAL LEADERSHIP (CEL). CEL COMPRISES SEVEN "STRANDS" OF LEARNING: THE ART OF COMMUNICATION, LEADERSHIP, ENTREPRENEURSHIP, ENGINEERING/NEW MEDIA, STATISTICS, ETHICS, AND GLOBAL IMMERSION. THESE STRANDS ARE BEING INFUSED THROUGHOUT THE SCHOOL'S CURRICULUM, PRE-K - 12, CULMINATING IN A SERIES OF UPPER SCHOOL REQUIRED AND ELECTIVE COURSES SPECIFICALLY FOCUSED ON THE STRAND TOPICS. THE GOAL OF THIS CURRICULUM IS TO HELP STUDENTS DEVELOP THE SKILLS AND ATTITUDES THEY WILL NEED TO SUCCEED IN THE 21ST CENTURY WORKPLACE. CHANGES IN PROGRAM SERVICES FORM 990, PART III, LINE 3 THE SCHOOL HAS RE-ENVISIONED HOW IT DELIVERS EDUCATION, MOVING TOWARD A MORE STUDENT-CENTERED APPROACH TO LEARNING, IN WHICH STUDENTS ARE GIVEN THE FREEDOM TO PURSUE, INTERPRET, AND EXPRESS THEIR LEARNING IN THE WAYS AND CONTEXTS THAT ARE MOST MEANINGFUL TO THEM. PROJECT-BASED LEARNING, DESIGN THINKING (HUMAN-CENTERED PROBLEM SOLVING), AND ENTREPRENEURSHIP FORM THE THREE LEGS OF THIS NEW APPROACH, WHICH INFORMS THE CEL CURRICULUM AS WELL AS TEACHING IN THE TRADITIONAL SUBJECTS. FORM 990, PART VI, SECTION A, LINE 2 FRANCIS P. STEEL JR, HEADMASTER, IS THE BROTHER-IN-LAW OF JAMES M. TALBOT II, BOARD MEMBER. HENRY O'REILLY, BOARD MEMBER AND SUZY O'REILLY, BOARD MEMBER ARE HUSBAND AND WIFE. TOM FERRARO, BOARD MEMBER AND RUTHIE FERRARO, BOARD MEMBER ARE HUSBAND AND WIFE. FORM 990, PART VI, SECTION A, LINE 4 CHESTNUT HILL ACADEMY AND SPRINGSIDE SCHOOL ADOPTED A PLAN OF MERGER WHICH INCLUDED EACH SCHOOL'S ADOPTION OF THE OTHER EDUCATIONAL INSTITUTION'S BY-LAWS. THE NEW ORGANIZATION HAS BEEN CALLED SPRINGSIDE CHESTNUT HILL CORPORATION. THE SCHOOL WILL BE KNOWN AS SCH ACADEMY. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS INITIALLY REVIEWED BY THE CHIEF FINANCIAL OFFICER AND THE CHAIR OF THE BOARD. AN ELECTRONIC VERSION IS THEN PROVIDED TO THE VOTING MEMBERS OF SPRINGSIDE'S BOARD OF TRUSTEES FOR THEIR REVIEW BEFORE THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS, OFFICERS, AND KEY EMPLOYEES COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTERESTS ON A YEARLY BASIS. FAMILY AND BUSINESS RELATIONSHIPS ARE EXPRESSLY MENTIONED IN THE STATEMENT. THE STATEMENTS ARE COLLECTED, REVIEWED AND RETAINED BY THE CHIEF FINANCIAL OFFICER. ANY POTENTIAL OR ACTUAL CONFLICTS WILL BE REVIEWED BY THE BOARD. INTERESTED PARTIES TO THE CONFLICT ABSTAIN FROM ANY DISCUSSIONS OR DECISIONS INVOLVING THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE GOVERNANCE COMMITTEE OF THE BOARD OF TRUSTEES IS RESPONSIBLE FOR OVERSEEING THE IMPLEMENTATION AND EXECUTION OF ALL HUMAN RESOURCES POLICIES, INCLUDING COMPENSATION. THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE OFFICERS' COMPENSATION USING COMPARABLE COMPENSATION DATA TO ENSURE ALL OFFICERS' COMPENSATION IS WITHIN FAIR MARKET RANGE FOR THE INDUSTRY. THE COMPENSATION COMMITTEE THEN MAKES RECOMMENDATIONS TO THE GOVERNANCE COMMITTEE WITH RESPECT TO OFFICERS' COMPENSATION. DURING THE CURRENT YEAR, THE COMPENSATION AND GOVERNANCE COMMITTEES REVIEWED THE COMPENSATION FOR OFFICERS AND, AS PART OF THE PROCESS, REVIEWED COMPARABLE COMPENSATION DATA FOR SCHOOLS IN CHA'S PEER GROUP (INCLUDING LOCAL SCHOOLS AND SCHOOLS IN THE MID-ATLANTIC REGION). THE GOVERNANCE COMMITTEE MADE DETERMINATIONS BASED ON THIS REVIEW. IN ADDITION, THE PRESIDENT USES LOCAL, REGIONAL AND NATIONAL ORGANIZATION COMPARATIVES TO DETERMINE KEY EMPLOYEES' SALARIES. THESE ORGANIZATIONS INCLUDE, BUT ARE NOT LIMITED TO, PASBOA, NAIS AND NBOA. ALL DISCUSSIONS ARE DOCUMENTED IN COMMITTEE MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE WHEN REQUESTED. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -72,343. CHANGE IN VALUE OF SWAP AGREEMENT -750,040. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST -8,465. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 1,954. AMORTIZATION OF DISCOUNT ON SPLIT-INTEREST ARRANGEMENTS 4,841. ENDOWMENT RETURN -622,385. TOTAL TO FORM 990, PART XI, LINE 5: -1,446,438. AUDIT OVERSIGHT: FORM 990, PAGE 12, PART XII, LINE 2C THE AUDIT COMMITTEE OVERSEES THE AUDIT AND THE SELECTION OF THE INDEPENDENT AUDITOR. THE PROCESS HAS NOT CHANGED FROM PRIOR YEARS. HOURS WORKED FOR RELATED ORGANIZATIONS: FORM 990, PAGE 7, PART VII, COLUMN B BOTH PRISCILLA SANDS AND FRANK ALOISE, AS PRESIDENT AND CHIEF FINANCIAL OFFICER, RESPECTIVELY, PERFORM SERVICES FOR THE ORGANIZATION AND ITS RELATED ENTITY. IT IS ESTIMATED THAT EACH DEVOTES APPROXIMATELY 25 HOURS TO EACH ORGANIZATION ON A WEEKLY BASIS. SPRINGSIDE CHESTNUT HILL CORPORATION WILLOW GROVE AVENUE CHEROKEE STREET PHILADELPHIA PA 19118 232003194 FINANCIALLY SUPPORT EDUCATION FOR THE BENEFIT OF SPRINGSIDE AND CHA PA 501(C)(3) LINE 11A, I NONE 0 SPRINGSIDE SCHOOL 8000 CHEROKEE STREET PHILADELPHIA PA 19118 231352681 EDUCATION PA 501(C)(3) LINE 2 NONE 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0