2012-04-24T14:52:49-05:00 2011-06-30 COVER & ROSSITER PA 62 ROCKFORD ROAD WILMINGTON DE 19806 990 2010-07-01 510065745 Tower Hill School Association TOWE 3026578360 2813 West 17th Street Wilmington DE 19806 CHRISTOPHER WHEELER 3026578360 2012-04-05 1 Peter S Kennedy CPA 3026566632 2012-04-05 2010 2016-02-24 21:20:13Z CHRISTOPHER WHEELER 2813 WEST 17TH STREET WILMINGTON DE 19806 45439376 0 X www.towerhill.org X 1919 DE Tower Hill School is a co-educational school for students 3 years old through grade 12. 19 19 255 50 0 0 2713438 4361982 15381244 15843456 -1601130 1044664 332706 383329 16826258 21633431 1602227 1776455 0 0 10505215 11086672 0 0 521296 6409115 7213487 18516557 20076614 -1690299 1556817 61081775 67529849 2951866 3793875 58129909 63735974 X Tower Hill provides an enriched and challenging college preparatory program in which each student's abilities and talents are recognized and respected. The curriculum incorporates both traditional and innovative approaches to learning within an educational environment that nurtures each student's moral, intellectual, creative, and physical development.Tower Hill is committed to perpetuating a school community founded on personal integrity, mutual respect, and collective responsibility. The school prepares its students for citizenship in the global community and encourages an appreciation for the lifelong process of learning and is dedicated to its motto, Multa Bene Facta -- Many Things Done Well. 0 0 17242088 1776455 15430975 Educational Programs - Tower Hill is a co-educational independent school with 756 students from 3 years old through Grade 12. 2010-11 had the highest enrollment in the 91-year history of the School. There were 109 new students. This is one of the School's highest new student enrollments. The Lower School achieved the highest enrollment in the schools history with 310 students. Tower Hill graduated 55 students in the Class of 2011. Members of this Class now attend Stanford, Lehigh, Duke, Cornell, Bryn Mawr, Swarthmore, Haverford, Georgetown, Drew, Carnegie Mellon, the University of Delaware, and Oberlin College, among others. 193893 292183 After School Program - The After School Program services Tower Hill students age 3 through Grade 6 every school day from 2:45pm to 6:00pm. This program provides a continuation of the attention and guidance they receive in Tower Hill's classrooms, but in a more home-like setting. Supervised homework time, inside play and outdoor sports, and age-appropriate activities give students the chance to fulfill their responsibilities and give their imaginations a workout too. Our Enrichment offerings include programs such as Let's Talk Chinese, Drama Time, ChessNuts, Lego Education courses, Sewing On the Go, Golf, Karate, Dare to Dance, Soccer, and Tennis, among others. 143727 180914 Summer Camp Program - The Summer Camp Program enrolled an average of 100 campers per week over the course of an 8 week camp period. New program initiatives and enhanced marketing efforts attracted children new to the camp and the market area from which children were drawn was expanded. Our campers enjoyed programs such as Day Camp, Academic Prep, Chemistry Prep, Study Skills, Field Hockey, Lacrosse, Basketball, Baseball, Football, Sports Plus, and a Day Camp designed for Preschool Aged children. The goal of the camp is to introduce parents and children to Tower Hill School and to provide engaging activities during the summer months for our students. 17579708 1 1 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 38 0 255 1 0 0 0 0 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X Business Office Tower Hill School 3026578360 1611 Tower Road Wilmington DE 19806 Dr David P Roselle 5.00 X X 0 0 0 Mrs Ellen J Kullman 5.00 X X 0 0 0 Mr William H Daiger Jr 5.00 X X 0 0 0 Ms Linda R Boyden 5.00 X X 0 0 0 Mr Michael A Acierno 2.00 X 0 0 0 Mr Theodore H Ashford III 2.00 X 0 0 0 Dr Earl J Ball III 2.00 X 0 0 0 Mr Robert W Crowe Jr 2.00 X 0 0 0 Mr Ben du Pont 2.00 X 0 0 0 Mr Charles M Elson 2.00 X 0 0 0 Mr W Whitfield Gardner 2.00 X 0 0 0 Mr Marc L Greenberg 2.00 X 0 0 0 Mr Thomas D Harvey 2.00 X 0 0 0 Mr Pierre duP Hayward 2.00 X 0 0 0 Mr Michael P Kelly 2.00 X 0 0 0 Mrs Michelle Shepherd 2.00 X 0 0 0 Mr Matthew T Twyman III 2.00 X 0 0 0 Mr Lance L Weaver 2.00 X 0 0 0 Mr Dennis Zeleny 2.00 X 0 0 0 Dr Christopher Wheeler 40.00 X X 285000 0 77478 Janet Plyler 40.00 X X 112000 0 15470 Julie Topkis-Scanlan 40.00 X 130000 0 20422 Jacquelyn Hamilton 40.00 X 118500 0 10478 Harry Baetjer 40.00 X 103000 0 22726 748500 0 146574 5 0 1 0 Williamson Hospitality Services Inc Suite 115 Blue Bell PA 19422 Food Service 531085 Nash Omniscaping LLC PO Box 40 Montchanin DE 19710 Landscaper 439830 Greggo & Ferrara Inc 4048 New Castle Ave New Castle DE 19720 Road Construction 170200 Cleaning Concepts Inc PO Box 590 Wilmington DE 19899 Cleaning Service 127469 Benchmark Building Services LLC 1722 Newport Gap Pike Wilmington DE 19808 General Contractor 122280 7 4361982 701850 4361982 TUITION 611600 15370359 15370359 AFTER CARE 611600 292183 292183 SUMMER SCHOOL 611600 180914 180914 15843456 431739 431739 55781 3849 51932 51932 51932 23082087 745761 23047349 167574 34738 578187 612925 612925 857954 587173 270781 270781 MISCELLANEOUS 611600 60616 60616 60616 21633431 15904072 0 1367377 1776455 1776455 362479 90620 181239 90620 8666026 7592829 842780 230417 596501 596501 815748 815748 645918 645918 27880 27880 46000 46000 65721 65721 17183 17183 37080 37080 118693 118693 51270 51270 1631810 1631810 2124684 2124684 130670 130670 Education-related Expen 1084815 1084815 Faculty Remission 991732 991732 Alumni & Public Relatio 225135 24876 200259 Other Taxes 40521 40521 Safety and Security 32148 32148 588145 25257 562888 20076614 17579708 1975610 521296 62399 2419902 91694 1141694 139 4658 115715 163298 29093 30108 52281168 18785889 33626621 33495279 25677804 30274910 1478310 0 61081775 67529849 2093688 3697564 750000 108178 96311 2951866 3793875 X 38130546 41274954 343858 2687368 19655505 19773652 58129909 63735974 61081775 67529849 X 1556817 4049248 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 25677804 162210 4445506 1250000 29035520 24105592 10516 2839991 1278295 25677804 34264550 31125 -8740083 1450000 24105592 0.32000 0.68000 0 0 3247658 3247658 37865810 13337981 24527829 8287936 2630024 5657912 2879764 2817884 61880 33495279 Securities and other investments 30274910 F 30274910 Student group funds 96311 96311 21633431 20076614 1556817 4049248 4049248 5606065 23480257 4049248 591022 4640270 18839987 2793444 2793444 21633431 17874192 591022 591022 17283170 2793444 2793444 20076614 Description of Uncertain Tax Positions Under FIN 48: Part X: The Association has adopted the provisions of FASB ASC 740-10-50, Accounting for Uncertainty in Income Taxes. Management continuously evaluates the Association's tax positions in relation to any expiring statutes of limitations, audits, proposed settlements, changes in tax law or new authoritative rulings, as applicable. Management's evaluation is that there is no possible additional unrecorded income tax liability. This evaluation is based on settled and established positions within the Internal Revenue Code and management believes there is no significant uncertainty related to its evaluation. The Association's policy is to expense all interest and penalties, if any, as incurred. No amounts of interest or penalties were recognized by the school during the years ended June 30, 2011 and 2010. Part XII, Line 2d - Other Adjustments: Cost of Goods Sold 587,173. Rental Expenses 3,849. Part XII, Line 4b - Other Adjustments: Financial Aid 1,776,455. Tuition Remission & Other Tuition Related 1,016,989. Part XIII, Line 2d - Other Adjustments: Cost of Goods Sold 587,173. Rental Expenses 3,849. Part XIII, Line 4b - Other Adjustments: Financial Aid 1,776,455. Tuition Remission & Other Tuition-related 1,016,989. 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 School's diversity policies are contained in various media notices which include, but are not limited to, the Tower Hill guide book and application form provided to prospective families, the Tower Hill website and through our membership with ADVIS. 1 Scholarships 148 1776455 FMV Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: The School awards scholarships to students based on demonstrated financial need and records are maintained in the Admissions Office. X X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 Dr Christopher Wheeler 265000 0 0 0 20000 0 21200 0 56278 0 362478 0 237500 0 Julie Topkis-Scanlan 113000 0 17000 0 0 0 9100 0 11322 0 150422 0 0 0 DR CHRISTOPHER WHEELER RETENTION LOAN X 100000 40000 0 1 1 DR CHRISTOPHER WHEELER ADVANCE ON HOME PURCHASE (AS AVAILABLE TO ALL EMPLOYEES) X 10000 0 0 1 1 DR CHRISTOPHER WHEELER HOME EQUITY X 25000 0 0 1 1 Dr CHRISTOPHER WHEELER RETENTION LOAN X 100000 100000 0 1 1 140000 X 23 701850 PUBLICLY TRADED VALUE 0 1 0 Form 990, Part VI, Section B, line 11 Form 990 is reviewed by the Business Manager and approved by the Headmaster and Board of Trustees Executive Committee. It is then communicated to the entire Board of Trustees that the Executive Committee approved the form 990 for filing. Form 990, Part VI, Section B, line 12c Trustees are required annually to sign conflict of interest statements and disclose any known or potential conflicts of interest in these statements. Form 990, Part VI, Section B, line 15 The headmaster's annual compensation is reviewed annually and approved by the Board of Trustees Executive Committee and reported to the full Board of Trustees Form 990, Part VI, Section C, line 19 Governing documents and financial statements are held with the School and are available upon request. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized gains on investments: 4,049,248. The School's policy is to use a modified cash basis of accounting. The following areas have been accounted for on a strict cash basis: - Operating expenditures - Capital expenses - Contributions revenue - Tuition revenue - All other miscellaneous revenue and expenses The following areas have been accounted for on an accrual basis: - Tuition prepayments - Employee loans - Any bank debts - Miscellaneous reserves and student funds