2012-05-15T09:37:11-05:00 2011-06-30 DIXON HUGHES GOODMAN LLP 272 BENDIX ROAD SUITE 500 VIRGINIA BEACH VA 23452 990 2010-07-01 540806413 NORFOLK COLLEGIATE SCHOOL NORF 7575830919 7336 GRANBY STREET NORFOLK VA 235053492 HEADMASTERPRESIDENT 7575830919 2012-05-14 1 CARON CROUSE 7574578400 2010 2016-02-24 21:20:13Z SCOTT KENNEDY 7336 GRANBY STREET NORFOLK VA 235053492 15906895 0 X WWW.NORFOLKCOLLEGIATE.ORG X SCHOOL 1948 VA TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND. 41 41 297 0 17955 0 653449 1108829 11255979 11376666 100896 465214 496630 291147 12506954 13241856 1149477 1190241 0 0 6175804 6846055 33710 26748 316985 4542233 4752077 11901224 12815121 605730 426735 30133400 30653709 10856369 10589669 19277031 20064040 TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND. 0 0 9177251 11376666 OPERATION OF A PRIVATE SCHOOL WITH AN APPROXIMATE ENROLLMENT OF 772 STUDENTS. 9177251 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 1 297 1 0 0 0 0 0 1 1 0 0 X 41 41 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X NORFOLK COLLEGIATE SCHOOL 7575830919 7336 GRANBY STREET NORFOLK VA 235053492 FREDERICK V MARTIN 2.00 X 0 0 0 RICHARD D ROBERTS 2.00 X 0 0 0 BETSY N MASON 2.00 X 0 0 0 STANLEY G BARR JR 2.00 X 0 0 0 J PATRICK BAKER 2.00 X 0 0 0 ASHLYN M BRANDT 2.00 X 0 0 0 NEAL P BRODSKY 2.00 X 0 0 0 ROBERT H DEFORD III 2.00 X 0 0 0 HAROLD W GEHMAN JR 2.00 X 0 0 0 DIEDRE M GRANGER 2.00 X 0 0 0 STEVEN B HALL 2.00 X 0 0 0 HENRY U HARRIS III 2.00 X 0 0 0 LESLI W HENRY 2.00 X 0 0 0 CHRISTOPHER KANTER 2.00 X 0 0 0 SUSAN H KELLY 2.00 X 0 0 0 RICHARD F KIEFNER JR 2.00 X 0 0 0 BARBARA SARRIS 2.00 X 0 0 0 BROOK J SMITH 2.00 X 0 0 0 JEFFREY A SWARTZ 2.00 X 0 0 0 JOSEPH F BOUCHARD 2.00 X 0 0 0 W TAYLOR FRANKLIN 2.00 X 0 0 0 JEFFREY M SILVERMAN 2.00 X 0 0 0 ELIZABETH S SMITH 2.00 X 0 0 0 KENNETH C ALEXANDER 2.00 X 0 0 0 MARK S BATZEL 2.00 X 0 0 0 STEPHEN E HERETICK 2.00 X 0 0 0 KEVIN M LARKIN 2.00 X 0 0 0 SUNSHINE M LEINBACH 2.00 X 0 0 0 TED A MATHAS 2.00 X 0 0 0 G THOMAS MINTON 2.00 X 0 0 0 SCOTT A ROBERTSON 2.00 X 0 0 0 RONALD A STINE 2.00 X 0 0 0 VICKI H TOWNSEND 2.00 X 0 0 0 JAMES T VAIL 2.00 X 0 0 0 SHEPELLE WATKINS-WHITE 2.00 X 0 0 0 BETSY N MASON 2.00 X 0 0 0 CAROL H MOORE 40.00 X 0 0 0 GARY D BONNEWELL 2.00 X 0 0 0 ROBERT W MCFARLAND 2.00 X 0 0 0 HARRISON J PERRINE 2.00 X 0 0 0 SCOTT KENNEDY 50.00 X 183600 0 4590 183600 0 4590 1 0 1 0 SAGE DINING SERVICES INC 222 BOSLEY AVE TOWSON MD 21204 FOOD SERVICE 624604 TRANQUEST LLC 994 SCOTT STREET NORFOLK VA 23502 CHARTER BUS SERVICES 183274 DUKE SERVICES PO BOX 6027 WILLIAMSBURG VA 23188 CLEANING SERVICES 149609 SHRIVER AND HOLLAND ASSOCIATES 355 WEST FREEMASON STREET NORFOLK VA 23510 CONSTRUCTION 142029 4 1108829 1108829 TUITION 611710 10835896 10835896 AUXILIARY SERVISES 611710 425635 425635 STUDENT ACTIVITIES 611710 115135 115135 11376666 294421 294421 48807 48807 48807 48807 2756735 2585942 170793 170793 170793 303482 79097 224385 224385 SPLIT INT. AGREEMENTS 611710 17955 17955 17955 13241856 11547459 17955 567613 1190241 1190241 5750537 4235239 1273906 241392 638545 638545 456973 338819 100590 17564 54869 46779 8090 26748 26748 39552 39552 95822 84460 11362 87357 87357 160886 149627 11259 32466 31011 1455 244173 244173 518601 518601 DINING SERVICES 539436 539436 FACULTY SCHOLARSHIPS 526900 526900 UTILITIES 334294 334294 ATHLETIC DEPT. 248792 248792 CONTRACTED SERVICES 212505 209975 2530 1656424 1168054 480526 7844 12815121 9177251 3320885 316985 1554723 3809625 5897531 4426467 4180538 1053913 1060109 46542 31006 128657 95641 21586937 7933059 13267048 13653878 5934309 3023805 18161 1448678 1156478 30133400 30653709 984973 1059795 3080056 3066117 6316000 6200931 475340 262826 10856369 10589669 X 14952669 15665296 1348304 1374939 2976058 3023805 19277031 20064040 30133400 30653709 X 426735 360274 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3102377 4996 418104 3525477 2845630 61505 195242 3102377 2644099 356560 -155029 2845630 0.86000 0.14000 0 0 2935042 2935042 16309084 5903293 10405791 2342811 2029766 313045 13653878 DEFERRED COMPENSATION 84000 DERIVATIVE FINANCIAL INSTRUMENTS 178826 262826 13241856 12815121 426735 738193 -377919 360274 787009 12868905 738193 79097 817290 12051615 1190241 1190241 13241856 12894218 79097 79097 12815121 0 12815121 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ENDOWMENTS ARE MAINTAINED FOR VARIOUS REASONS SUCH AS STUDENT SCHOLARSHIPS, FINANCIAL ASSISTANCE, AND FACULTY SALARIES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SCHOOL IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES AS A NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THE TAX STATUTES OF THE COMMONWEALTH OF VIRGINIA; ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE SCHOOL HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JUNE 30, 2011. FISCAL YEARS ENDING ON OR AFTER JUNE 30, 2008 REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. PART XI, LINE 8 - OTHER ADJUSTMENTS: LOSS ON DERIVATIVE INSTRUMENTS 45,904. CHANGES IN NET ASSETS OF RECIPIENT ORGANIZATION -423,823. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES PER 8B OF PART VIII 79,097. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANICAL AID 1,190,241. PART XIII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES PER 8B OF PART VIII 79,097. 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 NEWSPAPER ADVERTISEMENT X 1 DONALD E CRAIG & ASSOCIATES 206 SOUTHPOINT DR WILLIAMSBURG VA 23185 CAPITAL CAMPAIGN 0 0 11362 -11362 11362 -11362 VA AUCTION 138947 138947 26748 FALL FAIR 51098 51098 18449 113437 113437 33900 303482 303482 79097 79097 224385 1 NEED BASED FINANCIAL AID 172 1190241 FMV PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE SCHOOL HAS A FINANCIAL AID POLICY THAT IS USED TO MONITOR THE USE OF FINANCIAL AID. X X X X 0 0 0 0 0 0 0 0 0 SCOTT KENNEDY 183600 0 0 0 0 0 0 0 4590 0 188190 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE SCHOOL HAD BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THERE IS A COMMITTEE ON TRUSTEES THAT OVERSEES BOARD MEMBERSHIP. THE NEEDS OF THE BOARD/SCHOOL ARE ALWAYS REVIEWED FOR ITEMS SUCH AS GEOGRAPHIC/WORK/GENDER/DIVERSITY. THIS COMMITTEE SOLICITS MEMBERS FROM WITHIN THE COMMUNITY (OTHER BOARD, STAFF). THE COMMITTEE REVIEWS THEIR ATTRIBUTES AS BEING A PART OF THE BOARD. THEY ARE ALSO INTERVIEWED BY THE BOARD CHAIR AND COMMITTEE ON TRUSTEE CHAIR PRIOR TO BEING PRESENTED TO BOARD FOR VOTING APPROVAL. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD NORMALLY WORKS THROUGH A COMMITTEE STRUCTURE WHICH INCLUDES ADVANCEMENT, BUILDING & GROUNDS, FINANCE, STUDENT LIFE, AND GOVERNANCE. INITIALLY MOST ITEMS ARE DISCUSSED AND BROUGHT TO THE COMMITTEE LEVEL FOR BACKGROUND, RESEARCH, AND REVIEW. AREAS THAT REQUIRE APPROVAL ARE VOTED ON BY COMMITTEE, TAKEN TO THE EXECUTIVE COMMITTEE FOR DISCUSSION/VOTE, AND THEN TAKEN TO THE FULL BOARD FOR DISCUSSION/VOTE. FORM 990, PART VI, SECTION B, LINE 11 THE 990 IS REVIEWED BY THE AUDIT COMMITTEE PRIOR TO ITS FILING. IT IS ALSO AVAILABLE TO THE BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, BOARD MEMBERS ARE REQUIRED TO SUBMIT CONFLICT OF INTEREST STATEMENTS (REFLECTING NONE OR STATED CONFLICTS) TO THE GOVERNANCE COMMITTEE CHAIR. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR ADMINISTRATIVE POSITIONS IS BENCHMARKED USING SEVEN CRITERIA FIELDS OF SALARY BY POSITION FROM NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL AND VIRGINIA ASSOCIATION OF INDEPENDENT SCHOOLS. FOR ADMINISTRATIVE POSITIONS, THE MEDIAN OF THAT DATA IS USED AS A BENCHMARK FOR SALARY DETERMINATION WITHIN THE BUDGET GUIDELINES AND OVERALL STAFF AND FACULTY COST OF LIVING GUIDELINES FOR EACH FISCAL YEAR. HEADMASTER COMPENSATION ALSO USED THE BENCHMARKING CRITERIA AND IS REVIEWED AND SET BY A COMPENSATION COMMITTEE OF BOARD MEMBERS. FORM 990, PART VI, SECTION C, LINE 19 NORFOLK COLLEGIATE SCHOOL PROVIDES AND REVIEWS GOVERNING DOCUMENTS AND ITS CONFLICT OF INTEREST POLICY WITH THE BOARD OF TRUSTEES MEMBERS ANNUALLY. THE ANNUAL FINANCIAL STATEMENTS ARE PRESENTED TO THE BOARD OF TRUSTEES AUDIT COMMITTEE, WHO SUBSEQUENTLY PRESENTS THE FINANCIALS TO THE FINANCE COMMITTEE AND THE EXECUTIVE BOARD OF THE TRUSTEES. THE ANNUAL FINANCIAL STATEMENTS ARE ALSO AVAILABLE FOR REVIEW BY ALL MEMBERS OF THE BOARD OF TRUSTEES UPON PRESENTATION TO THE AFOREMENTIONED COMMITTEES. ALL OF THESE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. ALL OTHER FUNCTIONAL EXPENSES FORM 990, PART X, LINE 24F JANITORIAL : PROGRAM SERVICE EXPENSES 202,848. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 202,848. SUPPLIES: PROGRAM SERVICE EXPENSES 150,501. MANAGEMENT AND GENERAL EXPENSES 14,813. FUNDRAISING EXPENSES 2,508. TOTAL EXPENSES 167,822. TRANSPORTATION: PROGRAM SERVICE EXPENSES 165,332. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 165,332. BAD DEBTS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 186,534. FUNDRAISING EXPENSES -60,058. TOTAL EXPENSES 126,476. SUMMER PROGRAMS: PROGRAM SERVICE EXPENSES 117,519. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 117,519. STUDENT ACTIVITIES: PROGRAM SERVICE EXPENSES 97,959. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 97,959. EQUIPMENT RENTAL AND MAINTENANCE: PROGRAM SERVICE EXPENSES 82,912. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 82,912. EXTENDED CARE: PROGRAM SERVICE EXPENSES 73,385. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 73,385. LEARNING RESOURCE PROGRAMM: PROGRAM SERVICE EXPENSES 55,215. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 55,215. RESALE TEXTBOOKS: PROGRAM SERVICE EXPENSES 53,589. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 53,589. MEMBERSHIP DUES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 50,633. FUNDRAISING EXPENSES 1,752. TOTAL EXPENSES 52,385. FIRE & CASUALTY INS: PROGRAM SERVICE EXPENSES 50,424. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 50,424. POSTAGE AND SHIPPING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 35,503. FUNDRAISING EXPENSES 13,489. TOTAL EXPENSES 48,992. BOARD EXPENSES AND OTHER: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 3,227. FUNDRAISING EXPENSES 37,463. TOTAL EXPENSES 40,690. PRINTING AND PUBLICATIONS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 40,494. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 40,494. MISCELLANEOUS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 33,934. FUNDRAISING EXPENSES 1,844. TOTAL EXPENSES 35,778. LIBRARY: PROGRAM SERVICE EXPENSES 31,725. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 31,725. VEHICLE OPERATION: PROGRAM SERVICE EXPENSES 26,114. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 26,114. TRAFFIC & SECURITY: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 24,828. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 24,828. GUIDANCE COUNSELING: PROGRAM SERVICE EXPENSES 24,653. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 24,653. AP TESTING: PROGRAM SERVICE EXPENSES 24,111. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 24,111. REAL ESTATE TAXES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 18,881. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 18,881. PRIZES AND GIFTS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 18,347. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 18,347. TELEPHONE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 17,598. FUNDRAISING EXPENSES 165. TOTAL EXPENSES 17,763. FOOD SPECIAL FUNCTION: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 10,292. FUNDRAISING EXPENSES 3,897. TOTAL EXPENSES 14,189. HEADMASTER EXPENSE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 11,883. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 11,883. TUTORING: PROGRAM SERVICE EXPENSES 10,867. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,867. ALUMNI ASSOCIATION: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 6,784. TOTAL EXPENSES 6,784. ADMISSION EXPENSE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 6,585. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,585. SCHOOL IMPROVEMENT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 5,124. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,124. PROM EXPENSE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 1,500. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,500. EDUCATIONAL REIMBURSEMENT: PROGRAM SERVICE EXPENSES 900. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 900. PUBLICATION: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 350. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 350. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 738,193. LOSS ON DERIVATIVE INSTRUMENTS 45,904. CHANGES IN NET ASSETS OF RECIPIENT ORGANIZATION -423,823. TOTAL TO FORM 990, PART XI, LINE 5: 360,274. THE PROCESS IN WHICH THE SCHOOL SELECTS THE INDEPENDENT ACCOUNTANT AND ASSUMES OVERSIGHT OVER THE AUDIT HAS NOT CHANGED FROM THE PRIOR YEAR. NORFOLK COLLEGIATE EDUCATIONAL FOUNDATION INC 7336 GRANBY STREET NORFOLK VA 23505 541893594 PROVIDE GRANTS TO NORFOLK COLLEGIATE SCHOOL FOR NEED-BASED FINANCIAL AID. VA 501(C)(3) 509(A) N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0