2012-05-15T08:57:36-04:00 2011-06-30 WITHUM SMITH BROWN PC 5 VAUGHN DR PRINCETON NJ 085406313 990 2010-07-01 210635004 PENNINGTON SCHOOL PENN 6097371838 112 W DELAWARE AVE PENNINGTON NJ 08534 J GRAEME MCWHIRTER 6097376124 2012-04-27 true RICHARD C COYNE 6095201188 2010 2016-02-24 21:20:13Z STEPHANIE TOWNSEND 112 W DELAWARE AVE PENNINGTON NJ 08534 21877509 false X WWW.PENNINGTON.ORG X NOT-FOR-PROFIT 1838 NJ INDEPENDENT, COEDUCATIONAL SCHOOL SERVING DAY AND BOARDING STUDENTS IN GRADES 6-12. 33 32 215 100 200492 96774 2040319 1686981 16391497 17033467 762106 958149 461666 450607 19655588 20129204 2753070 3105400 0 0 9209897 9507804 0 0 927210 6214652 6123725 18177619 18736929 1477969 1392275 47679657 52231702 13300998 12604652 34378659 39627050 INDEPENDENT, COEDUCATIONAL SCHOOL SERVING DAY AND BOARDING STUDENTS IN GRADES 6-12. false false 1 14559069 3105400 17033467 COEDUCATIONAL DAY/BOARDING SCHOOL SERVICING GRADES 6 THROUGH 12 14559069 true true false false false false false false true true false false false true true true false true false true false true true true false false false true true true false false false false false false true true false true true false false false false false false false false false true 25 0 true 215 true true true false false false false false false false false false false false false X 33 32 false false false false false true true true true false false true true true true true true true true false X MANAGEMENT 6097371838 112 W DELAWARE AVE PENNINGTON NJ 08534 STEPHANIE TOWNSEND 40.0 X X X X 258721 0 52706 ROBERT BECKETT 1.0 X 0 0 0 ROBERT CARROLL 1.0 X 0 0 0 BISHOP SUDARSHANA DEVADHAR 1.0 X 0 0 0 VERNON H HAMMOND II 1.0 X 0 0 0 TIM HARMON 1.0 X 0 0 0 A LOUIS DENTON ESQ 1.0 X 0 0 0 CYNTHIA HILLAS 1.0 X 0 0 0 JAMES HYMAN 1.0 X 0 0 0 MICHAEL JINGOLI 1.0 X 0 0 0 DENNIS KEATING 1.0 X 0 0 0 JOHN SUYDAM KUHLTHAU 1.0 X 0 0 0 WALLACE KYLE 1.0 X 0 0 0 REV DONALD MEDLEY 1.0 X 0 0 0 REV DAVID MERTZ 1.0 X 0 0 0 TIMOTHY O'BRIEN 1.0 X 0 0 0 BETSY SCHWEPPE 1.0 X 0 0 0 DR RICHARD H SHARRETT 1.0 X 0 0 0 STEVEN M SILBERMAN 1.0 X 0 0 0 REV ROBERT SMITH 1.0 X 0 0 0 PETER J TUCCI ESQ 1.0 X 0 0 0 ROBERT M WIGOD 1.0 X 0 0 0 REV ROBERT WILLIAMS 1.0 X 0 0 0 JOHN M ZUCCARELLI 1.0 X 0 0 0 BRIAN MARKISON 1.0 X 0 0 0 WILLIAM MCCOMB 1.0 X 0 0 0 FRANCIS WARD MCCARTHY JR 1.0 X 0 0 0 DR JOHN MCGUIRE 1.0 X 0 0 0 DAVID PARAGAMIAN 1.0 X 0 0 0 KIM PIMLEY 1.0 X 0 0 0 ELIZABETH SECREST 1.0 X 0 0 0 J GRAEME MCWHIRTER 40.0 X X X 142500 0 56110 WILLIAM HAWKEY 40.0 X 128050 0 54116 529271 0 162932 3 false true false JOHN VAN SELOUS CONSTRUCTION 1529 HARBOURTON ROCKTOWN ROAD LAMBERTVILLE NJ 08530 CONSTRUCTION 148605 ADVANCE ELECTRIC CO INC 1165 ROUTE 130 ROBBINSVILLE NJ 08691 CONSTRUCTION 334205 COMMERCIAL CLEANING CORPORATION 1602 PENNINGTON ROAD TRENTON NJ 08618 HOUSEKEEPING 133992 3 1686981 32658 1686981 TUITION & FEES 17033467 17033467 17033467 522247 522247 0 0 394256 202399 191857 191857 191857 1641964 1206062 435902 435902 302597 118297 184300 0 273988 221547 52441 OTHER 13374 13374 YEARBOOK ADVERTISING 541800 8635 8635 22009 20129204 17046841 200492 522247 0 3062800 3062800 42600 42600 0 688957 475381 172239 41337 0 6788940 4684368 1697235 407337 443752 306189 110938 26625 1042487 719316 260622 62549 543668 375131 135917 32620 0 26117 26117 60225 60225 0 0 0 8185 8185 51741 51741 118254 47693 46533 24028 94459 94459 0 681097 511778 122275 47044 0 0 36246 36246 289251 214046 75205 0 1822145 1494159 236879 91107 168898 168898 DEVELOPMENT OFFICE 191039 191039 ADMISSIONS 27183 27183 HEALTH CENTER 5784 5784 HEAD MASTER OFFICE 165891 165891 ADMINISTRATIVE 138121 138121 2239089 2118962 116603 3524 18736929 14559069 3250650 927210 4136651 3792123 530647 583687 96576 98638 106907 83389 278456 284310 41354934 20280451 21603642 21074483 20808162 26224170 118616 90902 47679657 52231702 1834757 1658115 2788393 2562952 7340000 7170000 472500 463645 865348 749940 13300998 12604652 X 23905906 26988979 2541679 3807654 7931074 8830417 34378659 39627050 47679657 52231702 X 1392275 3856116 X false true true X false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22456980 221927 4657098 633639 26702366 19479969 1112291 2194360 329640 22456980 23959814 126700 -4440463 166082 19479969 0.55000 0.32000 0.13000 false false false 258677 258677 31303400 14641440 16661960 4037656 1214104 2823552 3933436 3134304 799132 1821765 1290603 531162 21074483 0 LIABILTIY INTEREST RATE SWAP 495289 SWAP TERMINATION LIABILITY 254651 749940 20129204 18736929 1392275 3904848 41796 3946644 5338919 21462450 3904848 -2571602 1333246 20129204 20129204 16214059 -2522870 -2522870 18736929 18736929 REVENUE RECONCILIATION ITEMS SCHEDULE D, PART XII VARIOUS ITEMS CLASSIFICATION DIFFERENCES BETWEEN TAX RETURN AND FINANCIAL STATEMENT: 1. SCHOLARSHIPS AND FINANCIAL ASSISTANCE $3,105,400 2. RENTAL EXPENSES ($202,399) 3. DIRECT FUNDRAISING EXPENSES ($88,034) 4. COSTS OF GOODS SOLD ($221,547) 5. PRIOR PERIOD ADJUSTMENT (21,818). LOSS ON INTEREST RATE SWAP SCHEDULE D, PART XIII, LINE 2D LOSS ON INTEREST RATE SWAP $(41,796), EXPENSE ON FINANCIAL STATEMENT, CHANGE IN NET ASSETS ON TAX RETURN EXPENSE RECONCILIATION ITEMS SCHEDULE D PART XIII, LINE 2D VARIOUS ITEMS CLASSIFICATION DIFFERENCES BETWEEN TAX RETURN AND FINANCIAL STATEMENT: 1. SCHOLARSHIPS AND FINANCIAL ASSISTANCE $3,105,400 2. RENTAL EXPENSES ($202,399) 3. DIRECT FUNDRAISING EXPENSES ($88,034) 4. COSTS OF GOODS SOLD ($221,547) 5. PRIOR PERIOD ADJUSTMENT (28,754). true true true true true true true false false false false false false false false false false true NONDISCRIMINATORY POLICY NOTICE FORM 990 SCHEDULE R LINE 3 THE ORGANIZATION ADVERTISES THROUGH LOCAL NEWSPAPERS. East Asia and the Pacific 0 0 Fundraising 18683 0 0 0 0 18683 18683 SCHOLARSHIPS AND FINANCIAL AID OUTSIDE US Europe/Iceland/Greenland 1 42600 FINANCIAL AI FMV false false false false false false AUCTION 227402 227402 88034 GOLF EVENT 67645 67645 30263 1 7550 7550 302597 302597 118297 118297 184300 true SCHOLARSHIPS AND FINANCIAL AID 141 3062800 FMV FINANCIAL AID SEE EXPLANATION FOR PART I, LINE 2 SCHEDULE I, PART III THERE WERE 142 RECIPIENTS OF FINANCIAL AID AND 7 RECIPIENTS OF SCHOLARSHIPS. THE SCHOLARSHIPS ARE AWARDED ON A MERIT OR NEED BASIS AND COVER THE COST OF A DAY TUITION. FINANCIAL AID IS AWARDED ON A NEED BASIS USING INDUSTRY STANDARD FINANCIAL DISCLOSURES AND CALCULATIONS. X true true X X X X false true false false false false false false false STEPHANIE TOWNSEND 215000 0 20497 0 23224 0 0 0 52706 0 311427 0 0 0 WILLIAM HAWKEY 127750 0 300 0 0 0 0 0 54116 0 182166 0 0 0 J GRAEME MCWHIRTER 142500 0 0 0 0 0 0 0 56110 0 198610 0 0 0 COMPENSATION QUESTIONS SCHEDULE J, PART 1 STEPHANIE TOWNSEND IS REIMBURSED FOR GOLF CLUB MEMBERSHIP FEES. MS. TOWNSEND WAS ASKED TO JOIN THE GOLF CLUB, WHICH DOES NOT ACCEPT CORPORATE MEMBERS, ON BEHALF OF THE SCHOOL. AS A RESULT THE COSTS ASSOCIATED WITH MEMBERSHIP ARE GROSSED UP FOR TAX PURPOSES AND MS. TOWNSEND IS REIMBURSED THE ASSOCIATED TAX. STEPHANIE TOWNSEND IS PROVIDED A SUPPLEMENTAL PENSION IN 2009-2010. THE COST WAS $15,500. NEW JERSEY ECONOMIC AUTHORITY 222045817 64577MY17 2009-11-20 7500000 RESTRUCTURING OF NJEDA BONDS false false false 7500000 63059 2035 false false true true false false false false false 0.02440 0.02440 0.04880 true true true true CITIZENS BANK 5. false false true NA false false false ELIZABETH SECREST TRUSTEE 5000 FINANCIAL AID MICHAEL JINGOLI TRUSTEE/INTEREST IN CO. 4350 CO. PROVIDED CONSTRUCTION MGMT false JAMES HYMAN TRUSTEE/OFFICER OF BANK 20000 INTEREST PAID TO BANK false X 3 86806 FAIR VALUE X VARIOUS ITEMS 6 32658 FAIR VALUE false true true CONFLICT OF INTEREST POLICY PART VI, SECTION B, 12C SCHOOL REQUIRES ALL BOARD OF TRUSTEES, OFFICERS AND KEY EMPLOYEES TO SIGN ANNUAL CONFLICT OF INTEREST POLICIES. COMPENSATION POLICY PART VI, SECTION B, 15B HEAD OF SCHOOL HAS BEEN IDENTIFIED AS A KEY EMPLOYEE. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES MEETS TO DECIDE COMPENSATION. MEMBERS OF COMMITTEE ARE INDEPENDENT. COMMITTEE MEMBER PREPARES COMPARABLE DATA FROM TAX RETURNS (USING GUIDESTAR) AND NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (COLLECTED BY CFO). THIS MATERIAL IS REVIEWED BY EXECUTIVE COMMITTEE. BOARD OF TRUSTESS RATIFIES COMMITTEE'S FINDINGS. 990 REVIEW PROCESS PART VI, SECTION B, 11 FORM 990 PREPARED BY INDEPENDENT ACCOUNTANTS, REVIEWED BY FINANCE COMMITTEE AND MADE AVAILABLE TO INDIVIDUAL TRUSTEES EITHER BY EMAIL OR AT A BOARD MEETING PRIOR TO FILING. DOCUMENTS AVAILABLE TO THE PUBLIC PART VI, SECTION C, 19 THE SCHOOL'S FORM 990 AND 990-T ARE AVAILABLE ON WWW.GUIDESTAR.ORG. NO OTHER DOCUMENTS ARE AVAILABLE TO THE PUBLIC. RECONCILIATION OF NET ASSETS FORM 990, PAGE 12, PART XI, LINE 5 THE RECONCILING NUMBER IS MADE UP OF THE UNREALIZED GAIN/LOSS AMOUNT OF $3,904,848 LESS THE AMOUNT OF THE INTERST RATE SWAP AND PRIOR PERIOD ADJUSTMENT FOR INVESTMENTS ($48,732).