2012-10-30T10:22:30-05:00 2012-06-30 232932984 PARENTEBEARD LLC 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990 2011-07-01 231352646 HAVERFORD SCHOOL HAVE 4844172722 450 LANCASTER AVENUE HAVERFORD PA 19041 DAVID S GOLD 4844172722 2012-10-26 1 JULIUS GREEN CPA P00350393 2159720701 2011 2016-02-24 21:20:13Z JOSEPH T COX 450 LANCASTER AVENUE HAVERFORD PA 19041 47631493 0 X WWW.HAVERFORD.ORG X 1916 PA A NON-SECTARIAN COLLEGE PREP SCHOOL JR K-12, FOR QUALIFIED BOYS OF DIFFERING BACKGROUNDS. 27 26 293 40 275070 17303 9295863 4289351 28034729 29724681 1230563 1752275 930914 992931 39492069 36759238 4015262 4313765 0 0 16342082 18429412 0 0 2903391 10817960 11314447 31175304 34057624 8316765 2701614 138873348 137139699 47492755 47146240 91380593 89993459 X THE HAVERFORD SCHOOL, A NON-SECTARIAN COLLEGE PREPARATORY SCHOOL FOR JUNIOR KINDERGARTEN THROUGH GRADE TWELVE, PROVIDES A SUPERIOR LIBERAL ARTS EDUCATION FOR QUALIFIED BOYS OF DIFFERING BACKGROUNDS. WE ARE COMMITTED TO DEVELOPING THE FULL INTELLECTUAL, ARTISTIC, ATHLETIC AND MORAL POTENTIAL IN EACH BOY, AND WE AIM TO GRADUATE YOUNG MEN WITH STRONG CHARACTER WHO POSSESS A PASSION FOR LEARNING. 0 0 27397476 4313765 29724681 PREPARING YOUNG MEN ACADEMICALLY FOR THE FUTURE IS UNDOUBTEDLY ONE OF THE MOST VALUABLE BENEFITS OF A HAVERFORD EDUCATION. BUT MORE IMPORTANTLY, WE GIVE BOYS A FOUNDATION OF SKILLS THEY NEED TO LEAD A FULFILLING AND MEANINGFUL LIFE. AS OUR STATEMENT OF VISION READS, "THE HAVERFORD FACULTY PREPARES EACH BOY TO BE FUTURE-READY THROUGH DEVELOPING HIS CHARACTER AND HIS EMOTIONAL INTELLIGENCE, AS WELL AS HIS ACADEMIC, ARTISTIC, AND ATHLETIC TALENTS."THE HAVERFORD SCHOOL INCURS DIRECT INSTRUCTIONAL EXPENSES IN JUNIOR KINDERGARTEN THROUGH GRADE 12, ATHLETIC PROGRAM, AND OTHER EXTRA-CURRICULAR ACTIVITY EXPENSES FOR APPROXIMATELY 990 STUDENTS. 27397476 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 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 1 116 0 1 293 1 1 1 0 0 0 0 1 1 0 0 0 0 X 27 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA MA NY NJ X DAVID GOLD CHIEF FINANCIAL OFFICER 4844172722 450 LANCASTER AVENUE HAVERFORD PA 19041 ELIZABETH MCKEE ANDERSON 0.50 X 0 0 0 KENNETH L BRIER 1.50 X 0 0 0 ROBERT C CLOTHIER III 1.50 X X 0 0 0 JOSEPH T COX 40.00 X X 429922 0 83603 JOHN A DEFLAMINIS 0.50 X 0 0 0 DAVID B FORD JR 1.50 X X 0 0 0 RICHARD W GRAHAM II 0.50 X X 0 0 0 RICHARD J GREEN 0.50 X 0 0 0 MICHAEL S LEWIS 0.50 X 0 0 0 JOHN J LYNCH III 0.50 X 0 0 0 DAVID J MARTINELLI 0.50 X 0 0 0 RICHARD I MELVOIN 0.50 X 0 0 0 LESLIE MUHLFELDER FREEMANN 0.50 X 0 0 0 ALBERT C OEHRLE 0.50 X 0 0 0 AMY PETERSEN 0.50 X 0 0 0 VINCENT A ROSSI 0.50 X 0 0 0 JOHN F STOVIAK 17.50 X X 0 0 0 CAROLINE ROGERS 0.50 X 0 0 0 MARK D TURNER 0.50 X 0 0 0 CARTER D WILLIAMS 0.50 X 0 0 0 THOMAS L WILLIAMS 0.50 X 0 0 0 JOHN C WILKINS JR 0.50 X 0 0 0 KENNETH W SCHWENKE 0.50 X 0 0 0 ROBERT T HASTINGS 0.50 X 0 0 0 JENNIFER N PECHET 0.50 X 0 0 0 BONNIE STOKES 0.50 X 0 0 0 WILLIAM C YOH 7.00 X 0 0 0 DAVID S GOLD 40.00 X 182500 0 51456 JAMES M THORBURN 40.00 X 217000 0 24991 JOHN C NOSTRANT 40.00 X 160500 0 52871 RONALD F DUSKA 40.00 X 150550 0 14058 JAMES J GREYTOK JR 40.00 X 154500 0 50058 BRIAN MCBRIDE 40.00 X 156000 0 133932 CHARLES BROWN 40.00 X 176750 0 41851 MATTHEW GREEN 40.00 X 146500 0 48916 GEORGE WOOD 40.00 X 106500 0 16043 1880722 0 517779 12 0 1 0 SODEXO OPERATIONS LLC 9801 WASHINGTON BOULEVARD GAITHERSBURG MD 20878 FOOD MANAGEMENT 2497405 FIELD TURF CORP 8088 MOUNTVIEW ROAD ATTN RAYMOND R MONTREAL QUEBEC CA ATHLETIC FIELDS 980805 WAVERLY CUSTOM HOMES LLC 936 ROCK CREEK ROAD BRYN MAWR PA 19010 CONSTRUCTION 545870 MR ROSE CONSTRUCTION 463 KENWOOD RD HUNTINGDON VALLEY PA 19006 CONSTRUCTION 251775 SHEPPARD DETECTIVE SYSTEM INC 2810 NORTH BROAD ST PHILADELPHIA PA 19132 SECURITY 240508 5 26337 360000 3903014 211385 4289351 TUITION & FEES 611710 28973875 28973875 DAY CARE PROGRAM 611710 253388 253388 SUMMER DAY CAMP 611710 222278 8251 214027 MUSIC LESSONS 611710 156010 156010 ENRICHMENT PROGRAM 611710 119130 119130 29724681 1064182 1064182 181015 192220 -11205 -11205 -11205 11303541 41089 10546537 110000 757004 -68911 688093 688093 23498 26337 23498 0 CAFETERIA 611710 901714 61043 840671 CAFE SALES 611710 25473 25473 AHLETICS 611710 19285 19285 57664 57664 1004136 36759238 29510654 275070 2684163 4313765 4313765 2133933 829982 791287 512664 11879925 10131251 796482 952192 1030747 859672 95903 75172 2400346 2072908 235804 91634 984461 943611 16340 24510 53866 53866 59390 59390 106383 106383 1573389 1528567 39731 5091 293532 11120 282412 1504540 1253277 163553 87710 142344 142344 2319726 1507688 444182 367856 226132 162068 64064 66226 26644 26334 13248 3198629 2446137 427140 325352 INSTRUCTIONAL EXPENSES 834464 687033 147431 ATHLETIC DEPARTMENT 276834 276834 BOOKS, DUES & SUBSCRIP. 264386 215695 46455 2236 BOARD EXPENSES 184993 184993 209613 110363 99250 34057624 27397476 3756757 2903391 X 3500 12950 4193715 2588897 15383677 8921106 68442 50229 378030 431031 107572223 28799936 78369172 78772287 33986496 38770545 5749153 6896606 238597 204996 502566 491052 138873348 137139699 1781705 2439965 4806647 4771811 39275000 35655000 1629403 4279464 47492755 47146240 X 67808465 65060750 10025757 7795517 13546371 17137192 91380593 89993459 138873348 137139699 X 2701614 -4088748 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 38620045 6641384 286211 45547640 31472044 3742976 3405025 38620045 23695095 4706031 3070918 31472044 43497483 857273 -8757931 1761940 10139790 23695095 0.59710 0.36550 0.03740 0 0 521496 521496 96363498 21314785 75048713 9890809 7485151 2405658 796420 796420 78772287 THE WEATHERLOW OFFSHORE FUND I LTD. 3023383 F SELECTINVEST ARV LTD. 259169 F AG DIVERSIFIED CREDIT STRATEGIES FUND LTD. 1688192 F AG CAPITAL RECOVERY VI HOLDINGS L.P. 1020511 F TIGER ACCELERATOR PARTNERS LP 905351 F 6896606 ACCRUED POSTRETIREMENT HEALTH COSTS 385819 INTEREST RATE SWAP AGREEMENTS 3893645 4279464 36759238 34057624 2701614 -1389861 -2698887 -4088748 -1387134 28466060 -1389861 -2698887 -4088748 32554808 106383 4098047 4204430 36759238 29853194 215718 215718 29637476 106383 4313765 4420148 34057624 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT FUND SUPPORTS THE MISSION OF THE SCHOOL THROUGH SCHOLARSHIPS, PROGRAM SUPPORT, AND FACULTY SUPPORT. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SCHOOL 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, MANAGEMENT BELIEVES NO SIGNIFICANT UNCERTAIN TAX POSITIONS EXIST, EITHER INDIVIDUALLY OR IN THE AGGREGATE, THAT WOULD GIVE RISE TO THE RECOGNITION OF AN INCOME TAX LIABILITY. AS OF JUNE 30, 2012, IN THE OPINION OF MANAGEMENT, THE SCHOOL HAS NO MATERIAL UNRECOGNIZED INCOME TAX LIABILITIES OR ACCRUED INTEREST AND PENALTIES. THE SCHOOL'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR 2011, 2010, 2009, AND 2008 REMAIN SUBJECT TO EXAMINATION BY THE IRS. PART XI, LINE 8 - OTHER ADJUSTMENTS: INTEREST RATE SWAP AGREEMENT -2,698,887. PART XII, LINE 2D - OTHER ADJUSTMENTS: INTEREST RATE SWAP AGREEMENT -2,698,887. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -23,498. FINANCIAL AID 4,313,765. RENTAL EXPENSES -192,220. PART XIII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 23,498. RENTAL EXPENSES 192,220. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 4,313,765. 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 THE HAVERFORD SCHOOL IS A MEMBER OF A LOCAL CONSORTIUM CALLED "ADVIS" THAT PUBLISHES A NONDISCRIMINATORY STATEMENT IN NEWSPAPERS. GOLF OUTING 49835 26337 23498 23498 49835 26337 23498 23498 23498 0 1 SCHOLARSHIPS & FINANCIAL AID 274 4313765 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANT FUNDS ARE DETERMINED USING AN OUTSIDE SERVICE WHICH DETERMINES NEED FOR TUITION ASSISTANCE. THE FUNDS OR TUITION DISCOUNT IS THEN APPLIED AGAINST THE TUITION OBLIGATION AT THE SCHOOL. FAMILIES ARE ASKED TO NOTIFY THE SCHOOL IF THEIR FINANCIAL SITUATION CHANGES. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 JOSEPH T COX 369922 0 60000 0 0 0 25000 0 58603 0 513525 0 0 0 DAVID S GOLD 182500 0 0 0 0 0 18250 0 33206 0 233956 0 0 0 JAMES M THORBURN 169500 0 0 0 47500 0 16950 0 8041 0 241991 0 0 0 JOHN C NOSTRANT 119500 0 0 0 41000 0 11950 0 40921 0 213371 0 0 0 RONALD F DUSKA 120550 0 0 0 30000 0 12055 0 2003 0 164608 0 0 0 JAMES J GREYTOK JR 124500 0 0 0 30000 0 12450 0 37608 0 204558 0 0 0 BRIAN MCBRIDE 156000 0 0 0 0 0 15600 0 118332 0 289932 0 0 0 CHARLES BROWN 176750 0 0 0 0 0 17675 0 24176 0 218601 0 0 0 MATTHEW GREEN 116500 0 0 0 30000 0 11650 0 37266 0 195416 0 0 0 PART I, LINE 1A THE SCHOOL REIMBURSED THE HEADMASTER'S SPOUSE FOR CLEANING SERVICES FOR THEIR SCHOOL-PROVIDED HOME. THE HOUSE IS USED FOR ENTERTAINING DEVELOPMENT PROSPECTS AND HOSTING SCHOOL FUNCTIONS. THE SCHOOL ALSO PAID AIRFARE FOR THE HEADMASTER'S WIFE TO ATTEND DEVELOPMENT FUNCTIONS (FOR WHICH HIS SPOUSE WAS INVOLVED) AND CONFERENCES FOR WHICH IT WAS APPROPRIATE FOR HER TO BE INCLUDED. THESE REIMBURSEMENTS WERE NOT INCLUDED IN THE HEADMASTER'S TAXABLE COMPENSATION. MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 613609WH5 2007-03-29 11501946 ADVANCE REFUNDING-T/E BOND ISSUE 4/08/2004 REFUND PRIOR T/E BONDS (LINE C) 0 0 0 MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 NONEAVAIL 2010-12-28 30000000 CURRENT REFUNDING T/E BOND ISSUE 6/02/08 TO FINANCE FACILITIES CONSTRUCTION 0 0 0 2846946 11501946 9133624 174731 134409 1998 0 1 1 1 3000000 30000000 30000000 2008 1 0 1 1 0 0 0 0 0.00000 0.00000 0 0 0 0 0 0 0 0 1 0 0 0 1 SCHEDULE K SUPPLENTAL INFORMATION PART II, LINE 11, COLUMN B AND C: APPLIED TO REDEEM PRIOR BONDS ON THE DATE OF CLOSING X 10 211385 FMV-NYSE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE EXECUTIVE COMMITTEE WILL RECEIVE A COPY OF THE FULL 990 AND APPROVE. THE SCHOOL WILL THEN CIRCULATE THE RETURN IN ITS ENTIRETY TO THE FULL BOARD FOR COMMENTS OR QUESTIONS BEFORE THE RETURN IS TRANSMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY THE BOARD IS REQUIRED TO COMPLETE A CONFLICT QUESTIONNAIRE TO HIGHLIGHT ANY CONFLICTS OR RELATIONSHIPS. THE CHIEF FINANCIAL OFFICER REVIEWS THE FORMS ANNUALLY TO DETERMINE IF ANY CONFLICTS EXIST. IF A POTENTIAL CONFLICT ARISES, THE BOARD MEMBER OR OFFICER IN QUESTION RECUSES HIMSELF OR HERSELF FROM ANY VOTES OR DECISIONS RELATED TO THE CONFLICT. ALL OFFICERS AND KEY EMPLOYEES ARE HELD RESPONSIBLE FOR ANY POTENTIAL CONFLICTS UNDER THE SCHOOL'S "CODE OF CONDUCT" POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE HEADMASTER'S COMPENSATION IS DETERMINED BY THE CHAIRMAN OF THE BOARD OF TRUSTEES AND THE EXECUTIVE COMMITTEE. THEY ENGAGE AN OUTSIDE CONSULTANT (LITTLEFORD & ASSOCIATES) IN DETERMINING THE HEADMASTER'S CONTRACT. THE CONSULTANT BENCHMARKS/SAFE HARBORS AGAINST OTHER HEADMASTERS IN THE INDUSTRY. A CONTRACT WAS JUST SIGNED/REVIEWED IN JUNE 2010. THE EMPLOYMENT CONTRACT'S RENEWAL WAS DOCUMENTED IN THE BOARD MINUTES. THE BOARD OF DIRECTORS IS INFORMED ON A HISTORICAL BASIS OF THE HEADMASTER'S COMPENSATION. OTHER KEY EMPLOYEES' SALARIES ARE DETERMINED BY THE HEADMASTER, WHO BENCHMARKS SALARIES WITH OTHER SCHOOL IN THE AREA ON AN ANNUAL BASIS AND REVIEWS THE SALARIES WITH THE BOARD CHAIR IN CHARGE OF THE FACULTY AND STAFF COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -1,389,861. INTEREST RATE SWAP AGREEMENT -2,698,887. TOTAL TO FORM 990, PART XI, LINE 5: -4,088,748. AUDIT OVERSIGHT: FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE METHODS WHICH THEY FOLLOW HAVE NOT CHANGED FROM THE PRIOR YEAR. HAVERFORD SCHOOL PARENTS' ASSOCIATION 450 LANCASTER AVENUE HAVERFORD PA 19041 236424688 SUPPORTING ORGANIZATION PA 501(C)(3) LINE 11B, II N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0