2013-11-26T07:56:12-06:00 2013-06-30 EISNERAMPER LLP 111 WOOD AVE SO STE 600 ISELIN NJ 088302700 990 2012-07-01 210634492 The Peddie School % MICHAEL B MCKITISH PEDD 6094907510 201 South Main Street Suite HIGHTSTOWN NJ 08520 MICHAEL B MCKITISH 6099447510 2013-11-15 true RICHARD A SACKIN 7322437000 2012 2015-11-30 17:44:51Z Michael B McKitish 201 south main street hightstown NJ 085201010 100900875 false X www.peddie.org X 1879 NJ Peddie School, a premier college preparatory school, is a thriving academic opportunity dedicated to the intellectual, social and moral growth of its students. One of the nation's most highly endowed 28 26 523 170 3435695 -840560 5939269 10074324 23681100 25148359 7897883 11461740 3771862 5312860 41290114 51997283 6168080 6715326 0 0 17412674 18124524 92922 0 1755858 15295974 16024796 38969650 40864646 2320464 11132637 385239701 415069867 51731189 49343615 333508512 365726252 X PEDDIE SCHOOL, A PREMIER COLLEGE PREPARATORY SCHOOL, IS A THRIVING ACADEMIC OPPORTUNITY DEDICATED TO THE INTELLECTUAL, SOCIAL AND MORAL GROWTH OF ITS STUDENTS. ONE OF THE NATION'S MOST HIGHLY ENDOWED SCHOOLS, PEDDIE EMBRACES EXCELLENCE AND ITS RESPONSIBILITY TO DEVELOP TOMORROW'S LEADERS WHILE STAYING TRUE TO THE SPIRIT OF COMMUNITY THAT HAS DISTINGUISHED THE SCHOOL SINCE ITS FOUNDING IN 1864. false false 30782007 6715326 25148359 A private secondary school including $6,657,326 in scholarships and other financial aid. 30782007 true true false false false false true true false true true true false false true true false true true false true false true false true true false true true true true false false false false false false false true false true true false false false true false false false false true 110 0 true 523 true true true true CJ UK BD VI EI false false false false false false false false X 28 26 false false false false false false false true true false false true true true true true true true true false X X MICHAEL B MCKITISH 6099447510 201 SOUTH MAIN STREET HIGHTSTOWN NJ 085201010 Chris Acito 1.0 X 0 0 Michael Armellino 1.0 X 0 Arthur Brown 1.0 X 0 Roger Burns 1.0 X 0 Karen Buroojy 1.0 X 0 Ed Dippold 1.0 X Jon Eckert 1.0 X 0 Jeffrey Finn 1.0 X 0 Lisa Forrester 1.0 X 0 Bob Hillier 1.0 X 0 Ann Marie Horner 1.0 X 0 Robert Kaye 1.0 X 0 Annette Liberson 1.0 X 0 Wight Martindale 1.0 X 0 Hal Rubin 1.0 X 0 Ron Schlosser 1.0 X 0 Anne Seltzer 1.0 X 0 Greg Smith 1.0 X 0 John Green 80.0 X X 572408 109795 JEFF ENSLIN 1.0 X 0 KEVIN MACMILLAN 1.0 X 0 WINNIE PUN 1.0 X 0 ELIZABETH SILVERMAN 1.0 X 0 Cathy Betz 1.0 X 0 Jan Loughran 50.0 X 42090 4723 Susan Caldwell 1.0 X 0 Douglas Davidson 1.0 X 0 Angela Manley 1.0 X 0 Michael McKitish 50.0 X 221376 23096 LISA WINICK 50.0 X 163129 26908 CATHERINE RODRIGUE 50.0 X 132667 46459 THOMAS PHELAN 50.0 X 108112 34138 DAVID FEY 15.0 X 157775 282 CHRIS VAN WYK 50.0 X 129292 14304 CHRIS BRIGHT 50.0 X 61858 43782 1588707 0 303487 7 true true false Clark Companies PO BOX 427 DELHI NY 13753 CONSTRUCTION 1392109 Dakota Building Services Inc 3 Aqua Terrace HAMILTON NJ 08620 HOUSEKEEPING 775399 AFI FOOD SERVICE DISTRIBUTORS 1 IKEA DRIVE ELIZABETH NJ 07207 FOOD SUPPLIER 354376 INGRAM MICRO PO BIX 90348 CHICAGO IL 60696 COMPUTERS 273397 RJS HTG AC 132 HAWKIN RD NEW EYGPT NJ 08533 BOILER INSTALLATION 272238 20 X 10074324 582833 10074324 TUITION AND FEES 611600 25148359 25148359 25148359 5075546 -278281 5353827 0 0 300100 101758 198342 0 198342 198342 54903355 48517161 6386194 6386194 6386194 149257 206257 -57000 -57000 24780 10680 14100 14100 135869 67736 68133 68133 SNACK BAR 722513 189104 67893 121211 GOLF COURSE, LACROSSE, SUMMER 713910 3334476 3334476 DAY CARE 624410 311607 311607 1254098 1254098 5089285 51997283 25148359 3435695 13338905 58000 58000 6383026 6383026 274300 274300 0 1178137 153187 793594 231356 0 13158303 9126337 3144727 887239 995656 680576 241301 73779 1796506 1176952 490368 129186 995922 632677 295736 67509 0 100579 51655 48924 48231 48231 0 0 121046 121046 0 0 700753 340562 313530 46661 707292 671174 36118 0 2927457 2448421 455957 23079 227683 78805 110209 38669 0 0 1766756 1682612 84144 0 5250638 4470934 755237 24467 475214 458559 16655 OTHER 246037 155166 63592 27279 FOOD SERVICES 668759 668759 AUXILIARY 584875 584875 ACADEMIC PROGRAMS 496201 496201 1703275 825759 719806 157710 40864646 30782007 8326781 1755858 X 28534502 37347243 0 0 4583387 3833650 2966363 664006 0 0 0 0 0 0 84068 94030 587251 609532 167333943 60160023 105517431 107173920 82132576 115302807 160834123 150044679 0 0 0 0 0 0 385239701 415069867 5549107 5227850 0 0 3912897 4930263 39514432 37121133 0 0 0 0 0 0 0 0 2754753 2064369 51731189 49343615 X 135786701 147462493 32829754 42026861 164892057 176236898 333508512 365726252 385239701 415069867 X 11132637 19358701 1726402 X X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 2 3.50 0 0 0 1 true 2.00 false 0 324524 0 0 X X X false 254127904 9779281 29844121 5657645 5092355 283001306 278902443 1272007 -15296546 5136751 5613249 254127904 235515883 608056 53278504 5072605 5427395 278902443 218900075 1567923 25110874 4786312 5276677 235515883 282487486 937643 -54447073 4600000 5477981 218900075 0.25000 0.65000 0.10000 true false 7792415 7792415 159541529 60160024 99381505 107173920 150044679 F 150044679 0 INTEREST RATE SWAP 2064369 2064369 X 66458887 19358701 -4930924 14427777 52031110 -33827 -33827 51997283 34241147 33827 33827 34207320 6657326 6657326 40864646 Part XI Line 2d - OTHER ADJUSTMENTS: FINANCIAL AID -6,657,326 CHANGE IN INTEREST RATE SWAP 690,384 CHANGE IN PLEDGE -175,256 CHANGE IN SPLIT INTEREST AGREEMENT 1,211,274 Total -4,930,924 Part XII Line 2d - other adjustments: RENTAL EXPENSES 101,758 FUNDRAISING EVENTS EXPENSE 206,257 GAMING ACTIVITIES DIRECT EXPENSES 10,680 COST OF GOODS SOLD 67,736 ENDOWMENT MANAGEMENT EXPENSE -353,532 ENDOWMENT INCOME TAX 928 Total 33,827 Part XI Line 4b - other adjustments: RENTAL EXPENSES -101,758 FUNDRAISING EVENTS EXPENSES -206,257 GAMING ACTIVITIES DIRECT EXPENSES -10,680 COST OF GOODS SOLD -67,736 ENDOWMENT MANAGEMENT EXPENSE 353,532 ENDOWMENT INCOME TAX -928 Total -33,827 Part XII Line 4b - other adjustments: FINANCIAL AID 6,657,326 Part II, Line 9: The School holds two wetlands easements as part of its campus land. This is accounted for as part of the land amount on the School's balance sheet. Part III, Line 4: Included in this collection are such notable books as Charles Darwin's on the origin of species ($15,000), Hartmann Schedel's Nurenberg Chronicle ($35,000), and the latin book of hours' hours of the virgin ($25,000). Additionally, there are books by Thomas Jefferson, John Keats and G. Chaucer. These books and manuscripts provide an opportunity for our students to gain invaluable insight as to historical perspectives and a chance to view classical literature in their original form that they could not otherwise ever see. Additionally, the school possesses a l'earbe sculpture that is on display in the schools' art center for the viewing pleasure of the art students and to the public at exhibitions. Part V, Line 4: The Peddie School Endowment funds are donor RESTRICTED and primarily provide for financial aid to Peddie's students and support for the School's general operations. Endowment income also provides support for the school's faculty salaries as well as academic programs, field trips for students, and general use. Part X, Line 2: Accounting for Uncertainty in Income Taxes clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements. Management has analyzed the tax positions taken by the School and has concluded that as of June 30, 2013 and 2012, there are no uncertain tax taken or expected to be taken that would require recognition of a liability or disclosure in the consolidated financial statements. The School recognizes accrued interest and penalties associated with uncertain tax positions, if any. There was no income tax-related interest or penalties recorded for the years ended June 30, 2013 and 2012. The income tax returns of the School for June 30, 2012, 2011 and 2010 are subject to examination by the IRS and other taxing authorities, generally for three years after they were filed. true true true true true true true false false false false false false false false false false true Part I, Line 3: A statement of Peddie's non-discrimination policy is included in all brochures and catalogs that pertain to student admissions programs and scholarships. Peddie also publishes an annual print advertisement through NAIS (National Association of Independent Schools). true South Asia 0 0 Program Services STUDENTS VISIT INDIA 93832 East Asia and the Pacific 0 0 Program Services STUDENTS VISIT CHINA 44388 East Asia and the Pacific 0 0 Fundraising 48790 Europe (Including Iceland and Greenland) 0 0 Investments 6432153 Central America and the Caribbean 0 0 Investments 49805422 0 0 0 0 56424585 56424585 SCHOLARSHIP Europe (Including Iceland and Greenland) 1 50100 SCHOLARSHIP FMV SCHOLARSHIP Central America and the Caribbean 3 96000 SCHOLARSHIP FMV SCHOLARSHIP South Asia 1 50100 SCHOLARSHIP FMV SCHOLARSHIP North America 1 45500 SCHOLARSHIP FMV SCHOLARSHIP Sub-Saharan Africa 1 32600 SCHOLARSHIP FMV false false false false false false Schedule F, Part I, Line 2 The Peddie School uses school and student services (SSS) to process financial aid applications. SSS is a service of the national association of the independent schools. Parents of students complete the parents' financial statement (PFS) form and submit it to SSS along with the required copies of tax returns and proof of income. SSS calculates parents ability to pay. The Peddie School's financial aid committee then meets and tries to match student need with available funds. Financial aid awarded is applied against student tuition accounts for the academic year. Schedule F, Part 1, Line 3 Program services are at fair market value. Investments are at book value. Auction 111116 111116 120744 Reunion 25795 25795 74776 1 12346 12346 10737 149257 149257 206257 206257 -57000 24780 10680 true 1.00000 24780 10680 10680 14100 NJ true false true false 1.00000 MICHAEL B MCKITISH 201 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 false false true BORO OF HIGHTSTOWN 148 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 216000721 501(C)(3) 23000 GENERAL TOWN SUPPORT HIGHTSTOWN FIRE DEPARTMENT 148 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 223279112 501(C)(3) 15000 FIRE DEPARTMENT SUPPORT HIGHTSTOWN FIRST AID SQUAD 148 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 222677976 501(C)(3) 10000 FIRST AID SQUAD SUPPORT Downtown Hightstown 109 Mercer Street Hightstown NJ 08520 264822789 501(C)(3) 10000 TOWN IMPROVEMENT 3 0 FINANCIAL AID 170 6383026 SCHOLARSHIP 990 SCH I Part I Description of Procedure for Monitoring Use of Funds THE PEDDIE SCHOOL USES SCHOOL AND STUDENT SERVICES (SSS) TO PROCESS financial aid applications. SSS is a service of the national association of the independent schools. Parents of student complete the parents' financial statement (PFS) form and submit it to SSS along with the required copies of tax returns and proof of income. SSS calculates parent's ability to pay. The peddie school's financial aid committee then meets and tries to match student need with available funds. Financial aid awarded is applied against student tuition accounts for the academic year. X X true true X X X false false false false false false false false false John Green 572132 276 41500 68295 682203 Michael McKitish 220584 792 22479 617 244472 LISA WINICK 162949 180 15595 11313 190037 CATHERINE RODRIGUE 132391 276 13300 33159 179126 DAVID FEY 157775 282 158057 CHRIS BRIGHT 61709 149 6699 37083 105640 A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY - 2004A 222045817 645912CT1 2004-03-31 13077072 SCIENCE BUILDING false false false B NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY - 2004B 222045817 645912CS3 2004-03-31 8025000 SCIENCE BUILDING false false false C NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY - 2008 222045817 645918UJO 2008-12-19 25601588 RENOVATION TO ATHLETIC CENTER false false false A 0 0 13077072 0 0 4444260 221412 0 0 8411400 0 0 2005 false false true true B 0 0 8025000 0 0 0 165500 0 0 7859500 0 0 2005 false false true true C 0 0 25601588 0 0 10206845 394743 0 0 15000000 0 0 2009 false false true true A false false false false 0 false false true B false false false false 0 false false true C false false false false 0 false false true A false false false 0 false 0 false false B true true true Wells Fargo 8.7 false false false 0 false false C false false false 0 false 0 false false A true B true C true TAX-EXEMPT BONDS 0 The balance of the tax-exempt bonds shown on the Part X, line 20 were issued before 2003. yorktown partners investment manager 150361 See Part V false Paulson Company Investment Manager 78440 See Part V false Schedule L, Part IV (A) Name of person: Yorktown Partners (D) Description of transaction: One of the partners serves as an investment advisor and is a member of the investment committee (A) Name of person: Paulson Company (B) Relationship between interested person and organization: trustee investment manager (D) description of transaction: one of the managing directors is a member of the investment committee. X 1 2500 FMV X 29 582833 fmv false true true Part II, Line 32b Use Third Parties THE SCHOOL USED THEIR INVESTMENT BROKERS TO SELL THEIR CONTRIBUTED MARKETABLE SECURITIES. Form 990, Part I, Line 1, description of organization mission: schools, Peddie embraces excellence and its responsibility to develop tomorrow's leaders while staying true to the spirit of community that has distinguished the school since its founding in 1864. form 990, Part VI, Section B, Line 11: The Peddie School's Finance/Audit committee of the board of trustees is given a presentation of the 990 and 990T and meets to review the returns before the returns are filed. A copy of the peddie school's 990 and 990T is also made available to the entire board of trustees with an opportunity to raise any questions or concerns. Form 990, Part VI, Section B, Line 12C: A conflict of interest questionaire and statement is completed by the entire board of trustees on an annual basis. The statements are kept on file and reviewed by the school management. Form 990, Part VI, Section B, Line 15: Annually, the executive committee of the peddie board of trustees, conducts a review of compensation for officers and key employees. The committee reviews employee performance evaluations, historical salary, listing of all benefits and a comparison study of salary and benefits for similar positions at comparable schools. Form 990, Part VI, Section C, Line 19: The peddie school does not make its governing documents, conflict of interest policy and financial statements available to the public. The financial statements are made available to bondholders, insurers, rating agencies and others with a financial interest. Form 990, Part XI, Line 9, Changes in Net Assets: Change in value of split interest agreement 1,211,274 Change in value of interest rate swap 690,384 Change in pledges -175,256 Total to Form 990, Part XI, Line 9 $1,726,402. Form 990, Part XII, Line 2C: The review process for the financial statements has not changed from the prior year. Form 990, Part VIII, Line 7C(I): The gain shown is net of $2,560,194 in investment expenses. TPS MANAGEMENT LLC 201 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 753051210 COMMERCIAL NJ 104308 2362480 THE PEDDIE