2013-04-26T13:17:29-05:00 2012-06-30 232932984 PARENTEBARD LLC 1650 MARKET ST SUITE 4500 PHILADELPHIA PA 19103 990 2011-07-01 231178880 VALLEY FORGE MILITARY ACADEMY FOUNDATION VALL 6109891200 1001 EAGLE ROAD WAYNE PA 190873695 VINCENT J VUONO 6109891200 2013-04-26 1 JULIUS C GREEN CPA JD P00350393 5703236023 2013-04-26 2011 2016-03-07 17:11:31Z VINCENT J VUONO 1001 EAGLE ROAD WAYNE PA 190873695 33285362 0 X WWW.VFMAC.EDU X 1928 PA EDUCATIONAL INSTITUTION FOCUSED ON BUILDING LEADERSHIP THROUGH A MILITARY ENVIRONMENT. 19 19 245 100 131580 0 1852767 3391910 26441805 25810297 553129 508249 130326 35990 28978027 29746446 10055164 7127042 0 0 8983023 9670295 0 0 532096 11776891 10851708 30815078 27649045 -1837051 2097401 39020155 40441804 12464134 11340510 26556021 29101294 X TO EDUCATE CADETS, WITHIN AN ACADEMIC AND MILITARY ENVIRONMENT, TO BE FULLY PREPARED FOR THEIR RESPONSIBILITIES AS CITIZEN LEADERS WHO ARE MENTALLY ALERT, SOUND IN BODY, CONSIDERATE OF OTHERS AND POSSESSED OF THE HIGHEST SENSE OF DUTY, HONOR, LOYALTY, AND COURAGE.TO FOSTER THE LOVE OF GOD AND COUNTRY, HIGH MORAL STANDARDS AND STRONG CHARACTER TRAITS THAT WILL MAKE ALL A CREDIT TO THEMSELVES, THEIR FAMILIES, THEIR ALMA MATER, THEIR COUNTRY, AND THEIR GOD. 0 0 22203166 7127042 25810297 VALLEY FORGE PROVIDES CADETS WITH AN EDUCATIONAL EXPERIENCE BUILT ON OUR FIVE CORNERSTONES: ACADEMIC EXCELLENCE, CHARACTER DEVELOPMENT, PERSONAL MOTIVATION, PHYSICAL DEVELOPMENT, AND LEADERSHIP. A VALLEY FORGE EDUCATION IS ROOTED IN QUALITY ACADEMIC PROGRAMS SUPPORTED BY LEADERSHIP RESPONSIBILITIES AND STRONG ATHLETIC AND EXTRACURRICULAR OPPORTUNITIES. THE ACADEMY PROVIDED AN EDUCATION DURING THE 2011-2012 SCHOOL YEAR TO 533 CADETS. 22203166 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 17 1 1 245 1 1 1 0 0 0 0 1 1 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 PA X VINCENT J VUONO CFOCOO 6109891232 1001 EAGLE ROAD WAYNE PA 19087 ROBERT BACINE 1.00 X X 0 0 0 N GINO BANCO 1.00 X 0 0 0 RICHARD HOCKER 1.00 X 0 0 0 FREDERICK BREITENFELD JR 1.00 X 0 0 0 NILES DALLY 1.00 X 0 0 0 ANTOINETTE IADAROLA 1.00 X 0 0 0 WALTER J LEHMAN JR 1.00 X 0 0 0 J KENT MCNEW 1.00 X 0 0 0 CONRAD MUHLY 1.00 X 0 0 0 DANIEL REAVY 1.00 X 0 0 0 CHRIS ROUSSOS 1.00 X 0 0 0 IVAN SABEL 1.00 X 0 0 0 GEORGE SCHILDGE 1.00 X 0 0 0 WILLIAM FLOYD 1.00 X X 0 0 0 TOM MIRGON 1.00 X 0 0 0 TIM O'ROURKE 1.00 X 0 0 0 PAUL RAYMOND III 1.00 X 0 0 0 JOHN ENGLISH 1.00 X 0 0 0 BLAISE MERCADENTE 1.00 X 0 0 0 SHAWN PHILLIPS 40.00 X 147600 0 0 VINCENT VUONO 40.00 X 166400 0 13120 KATHLEEN ANDERSON 40.00 X 109577 0 0 DENIS SPIZUOCO 40.00 X 125300 0 0 DAVID GRAY 40.00 X 190600 0 17000 739477 0 30120 5 0 1 0 SODEXO INC PO BOX 905374 CHARLOTTE NC 28290 FOOD SERVICE 2172836 MAIN LINE JANITORIAL SERVICE 4438 LOBELLA COURT CHESTER SPRINGS PA 19425 LAUNDRY, CLEANING SERVICES 751081 2 67455 770894 2553561 12051 3391910 TUITION AND FEES 611600 24524192 24524192 SUMMER CAMP PROGRAM 611600 716488 716488 HOUSING RENTALS 611600 510244 510244 FINANCIAL AID 611600 59373 59373 25810297 484837 484837 173712 128445 45267 45267 45267 3291604 3268192 23412 23412 23412 46333 67455 142279 -95946 -95946 CAVALRY 713990 86313 86313 OTHER ADMINISTRATIVE I 900099 356 356 86669 29746446 25810297 131580 412659 7127042 7127042 541584 541584 7473816 5792785 1361177 319854 13355 13355 989125 798516 166414 24195 652415 432396 197169 22850 168867 168867 90899 90899 56331 56331 1555671 1116081 439590 551442 67452 483990 1291275 917040 330927 43308 56632 56632 1447004 1164691 207554 74759 1618249 1501888 99324 17037 322322 281769 34618 5935 1312067 1146991 140918 24158 UNIFORMS 657721 657721 BAD DEBTS 497292 497292 ALLOCATION OF PLANT OPE 460947 460947 STUDENT PROGRAMS 460093 460093 304896 277754 27142 27649045 22203166 4913783 532096 1501 1500 948734 6387934 30002 33895 4855021 0 172845 198720 938539 851661 44617063 27116027 16944819 17501036 7362925 7029907 342347 323392 7423422 8113759 39020155 40441804 2020638 2466782 3161882 2232086 6300000 6100000 450000 30000 3118 17613 390481 360659 138015 133370 12464134 11340510 X 9110004 10817670 7123275 7565164 10322742 10718460 26556021 29101294 39020155 40441804 X 2097401 447872 X X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X DECORATIVE- MILITARY TRADITION 0 9061504 73056 -87569 323300 34725 8688966 8007355 53607 1332242 331700 9061504 7561355 952898 506898 8007355 9591096 -1522441 507300 7561355 0.80480 0.19520 1 0 2571602 2571602 36812907 23521462 13291445 4793696 3594565 1199131 438858 438858 17501036 INTEREST IN PERPETUAL TRUST 3327943 INTEREST IN CHARITABLE REMAINDER TRUSTS 4785816 8113759 ANNUITIES PAYABLE 133370 133370 29746446 27649045 2097401 447872 447872 2545273 23256479 447871 117090 -7127042 -6562081 29818560 56331 -128445 -72114 29746446 20711207 117090 128445 245535 20465672 56331 7127042 7183373 27649045 PART III, LINE 4: NUMEROUS ORIGINAL PAINTINGS, SCULPTURES, MILITARY ARTIFACTS AND DOCUMENTS ARE USED TO ENHANCE THE PROVISION OF A SECONDARY AND COLLEGE EDUCATION IN A MILITARY ENVIRONMENT. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT IS TO BE USED FOR THE OPERATIONS OF THE ORGANIZATION. THE MAJORITY OF FUNDS ARE ALLOCATED TO CADET SCHOLARSHIPS. CADET AND STAFF AWARDS ARE ALSO FUNDED BY THE ENDOWMENT. ALLOWABLE ENDOWMENT FUNDING IS ALSO USED FOR PLANT OPERATIONS WHEN NECESSARY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION HAS EVALUATED ITS TAX POSITIONS AS OF JUNE 30, 2012. A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE-LIKELY-THAN-NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT HAS A LIKELIHOOD OF BEING REALIZED ON EXAMINATION OF MORE THAN 50 PERCENT. FOR TAX POSITIONS NOT MEETING THE "MORE-LIKELY-THAN-NOT" TEST, NO TAX BENEFIT IS RECORDED. UNDER THE "MORE-LIKELY-THAN-NOT" THRESHOLD GUIDELINES, THE FOUNDATION BELIEVES NO SIGNIFICANT UNCERTAIN TAX POSITIONS EXIST, EITHER INDIVIDUALLY OR IN THE AGGREGATE, THAT WOULD GIVE RISE TO THE NON-RECOGNITION OF AN EXISTING TAX BENEFIT. AS OF JUNE 30, 2012, THE FOUNDATION HAS NO MATERIAL UNRECOGNIZED TAX BENEFITS OR ACCRUED INTEREST AND PENALTIES. THE FEDERAL 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, AND APPLICABLE STATE TAX FILINGS FOR THE YEARS ENDED JUNE 30, 2012, 2011, AND 2010 REMAIN SUBJECT TO EXAMINATION BY THE APPROPRIATE TAXING AUTHORITIES. PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -7,127,042. PART XII, LINE 4B - OTHER ADJUSTMENTS: FACILITIES RENTAL EXPENSES -128,445. PART XIII, LINE 2D - OTHER ADJUSTMENTS: FACILITY RENTAL EXPENSES 128,445. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 7,127,042. 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 ADVERTISING INCLUDES THE REQUIRED STATEMENTS REGARDING OUR RACIAL NON-DISCRIMINATORY POLICY IN BOTH PRINT AND RADIO. EXPLANATION OF DOCUMENT RETENTION SCHEDULE E, PART I, LINE 4 SCHOLARSHIPS AND FINANCIAL AID ASSISTANCE ARE AWARDED ON THE BASIS OF NEED EXCEPT FOR BAND AND ATHLETICS (BASED ON MERIT). EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 VALLEY FORGE MILITARY ACADEMY AND COLLEGE RECEIVES A GRANT THROUGH THE PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY INSTITUTIONAL ASSIST GRANT PROGRAM. HOMECOMING 34896 3230 31666 22439 PARENT ASSOCIATION AUCTION 71453 60161 11292 32156 106349 63391 42958 54595 54595 -11637 1 VARIOUS 488 7127042 0 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: VF AWARDS INTERNAL MERIT SCHOLARSHIPS BASED ON THE CADET'S GRADES (GPA) FROM HIS / HER PREVIOUS SCHOOL AND BASED ON FINANCIAL NEED. THERE IS A MATRIX USED TO DETERMINE THE AMOUNT TO BE AWARDED TO EACH CADET. X X X 0 0 0 0 0 0 0 0 0 VINCENT VUONO 166400 0 0 0 0 0 0 0 13120 0 179520 0 0 0 DAVID GRAY 190600 0 0 0 0 0 17000 0 0 0 207600 0 0 0 PA HIGHER EDUCATIONAL FACILITIES AUTHORITY 232243852 70917NC44 2004-03-01 4000000 CAPITAL PROJECTS (CONSTRUCTION) 0 0 1 300000 4200000 200000 4000000 2005 0 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 0 NA 0 0 0 NA 0 0 0 X WILLIAM R FLOYD JR SHORT TERM LOAN - CASH BRIDGE FOR ORGANIZATION X 50000 30000 0 1 1 30000 FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION RECEIVES A COPY OF THE 990 FROM THE ACCOUNTING FIRM PREPARING THE RETURN. THE CONTROLLER REVIEWS THE 990, FOLLOWED BY THE CFO. AFTER REVIEW BY THE CONTROLLER AND CFO, THE FORM IS PRESENTED TO THE BUDGET, AUDIT AND FINANCE (BAF) COMMITTEE FOR ITS REVIEW, APPROVAL AND RECOMMENDATION. THEN, THE BAF COMMITTEE PRESENTS THE FORM TO THE FULL BOARD OF TRUSTEES FOR ITS REVIEW AND APPROVAL PRIOR TO THE FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C AN ANNUAL QUESTIONNAIRE IS SENT TO ALL BOARD MEMBERS AND SENIOR STAFF MEMBERS DOCUMENTING WHETHER THEY ARE INVOLVED IN ANY BUSINESS WITH THE FOUNDATION THAT COULD BE CONSTRUED AS GIVING RISE TO A POTENTIAL CONFLICT OF INTEREST. THESE QUESTIONNAIRES ARE SIGNED BY EACH BOARD MEMBER AND SENIOR STAFF MEMBER AND RETURNED TO THE FOUNDATION'S CFO FOR MONITORING OF POTENTIAL CONFLICTS. ANY TRANSACTIONS WITH AN INTERESTED PARTY ARE AT ARM'S LENGTH AND ARE DISCLOSED IN THE ORGANIZATION'S FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION B, LINE 15A THE ORGANIZATION'S BOARD OF DIRECTORS DETERMINES THE COMPENSATION FOR THE PRESIDENT USING VARIOUS METHODS THAT ENSURE THAT COMPENSATION IS IN LINE WITH THE FAIR MARKET RANGE FOR THE INDUSTRY. SURVEYS PROVIDED BY ORGANIZATIONS THAT SERVE AS CONSORTIUMS OF INDEPENDENT SCHOOLS ARE REFERENCED AND REVIEWED AS WELL AS FORMS 990 OF OTHER, SIMILAR ORGANIZATIONS. THE PRESIDENT'S COMPENSATION PACKAGE IS DOCUMENTED IN A WRITTEN EMPLOYMENT CONTRACT. OTHER KEY EMPLOYEES HAVE THEIR COMPENSATION PACKAGE RESEARCHED BY THE HUMAN RESOURCES DEPARTMENT AND APPROVED BY THE PRESIDENT. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 447,872. AUDIT OVERSIGHT: FORM 990, PAGE 12, PART XI, LINE 2C THE AUDIT COMMITTEE OVERSEES THE AUDIT AND CHOOSES THE INDEPENDENT AUDITORS. THE PROCESS HAS NOT CHANGED FROM PRIOR YEARS. DOCUMENT DESTRUCTION AND RETENTION POLICY: FORM 990, PAGE 6, PART VI, LINE 14 THE ORGANIZATION HAS AN ORAL POLICY CONCERNING DOCUMENT RETENTION AND DESTRUCTION AND IS CURRENTLY IN THE PROCESSING OF FORMALIZING THE PROCEDURE WITH A WRITTEN POLICY.