2012-11-12T14:51:04-06:00 2012-06-30 EISNERAMPER LLP 750 ROUTE 202 SOUTH SUITE 500 BRIDGEWATER NJ 08807 990 2011-07-01 210634492 THE PEDDIE SCHOOL % MICHAEL B MCKITISH PEDD 6094907510 201 south main street HIGHTSTOWN NJ 08520 MICHAEL B MCKITISH 2012-11-15 true DOUGLAS TAPP CPA 9082185002 2011 2016-02-24 21:20:13Z Michael B McKitish 201 south main street hightstown NJ 085201010 88227769 false X www.peddie.org X 1879 NJ Peddie School, a premier college preparatory school, is a thriving academic opportunity dedicated to the intellectual, social and moral growth of its students. One of the nation's most highly endowed 32 27 483 170 3295814 -818502 3502177 5939269 22130004 23681100 13710547 7897883 3705752 3771862 43048480 41290114 5932475 6168080 0 0 16397263 17412674 0 92922 1524331 16147634 15295974 38477372 38969650 4571108 2320464 408055982 385239701 52545976 51731189 355510006 333508512 Peddie School, a premier college preparatory school, is a thriving academic opportunity dedicated to the intellectual, social and moral growth of its students. One of the nation's most highly endowed schools, Peddie embraces excellence and its responsibility to develop tomorrow's leaders while staying true to the spirit of community that has distinguished the school since its founding in 1864. false false 29664839 6168080 23681100 A private secondary school including $6,100,080 in scholarships and other financial aid. 29664839 true true false false false true true false true true true false false true true false true true false true false true true true true false true true true true false false false false false false false true false true true false false false true false false false false false true 114 0 true 483 true true true true CJ UK BD VI EI false false false false false false false false X 32 27 false false false false false false false true true false false true true true true true true true true false X X MICHAEL B MCKITISH 6099447510 201 SOUTH MAIN STREET HIGHTSTOWN NJ 085201010 Chris Acito X 0 0 Michael Armellino X Chris Bright 50.0 X 59310 51461 Arthur Brown X Stephen Brown X Roger Burns X Karen Buroojy X Angie Cook X Ed Dippold X Jon Eckert X Jeffrey Finn X Lisa Forrester X Roger Hansen X Bob Hillier X Ann Marie Horner X Robert Kaye X Annette Liberson X Wight Martindale X Harold Neiderhoffer X Hal Rubin X Ron Schlosser X Anne Seltzer X Greg Smith X Jim Wong X Nancy Yunker X John Green 80.0 X X 383947 109118 JEFF ENSLIN X KEVIN MACMILLAN X WINNIE PUN X JACKIE RESES X ELIZABETH SILVERMAN X Cathy Betz X Michael McKitish 50.0 X 217014 23212 Lisa Winick 50.0 X 156066 16330 Catherine Rodrigue 50.0 X 123269 45343 THOMAS PHELAN 50.0 X 105244 31683 Raymond Cabot 50.0 X 98029 67098 David Fey 15.0 X 116440 375 1259319 0 344620 6 false true false DAKOTA BUILDING SERVICES INC 3 AQUA TERRACE HAMILTON NJ 08620 HOUSEKEEPING 805914 PRC CONSTRUCTION INC 40 MONMOUTH PARK HWY WEST LONG BRANCH NJ 07764 CONSTRUCTION 641180 HANOVER CONSTRUCTION INC PO BOX 158 WRIGHTSTOWN NJ 08562 CONSTRUCTION 583668 Horizon BCBSNJ PO Box 1738 NEWARK NJ 07101 insurance 1410831 Allen Stults Company Inc 106 North Main Street HIGHTSTOWN NJ 08520 insurance 461217 17 5939269 2640972 5939269 TUITION AND FEES 611600 23681100 23681100 23681100 5171642 -95671 5267313 0 0 279359 87967 191392 191392 191392 49047256 0 46136452 184563 2910804 -184563 2726241 2726241 227978 250430 -22452 -22452 65700 60489 5211 5211 184668 217754 -33086 -33086 SNACK BAR 722210 165650 61025 104625 GOLF COURSE, LACROSSE, SUMMER 713910 3014615 3014615 DAY CARE 624410 315845 315845 134687 134687 3630797 41290114 23681100 3295814 8373931 68000 68000 5826080 5826080 274000 274000 0 996810 112874 703680 180256 0 12669472 8919796 3074260 675416 1003012 688275 258762 55975 1763688 1169473 470490 123725 979692 634790 278959 65943 0 90926 59233 31693 43250 43250 0 92922 92922 109151 109151 0 0 731852 356457 325388 50007 717669 670681 46988 0 2662245 2227343 413754 21148 265387 105021 118010 42356 0 0 1903009 1812376 90633 0 5097289 4426530 642593 28166 423926 311039 112887 contracted services 241607 145500 62980 33127 FOOD SERVICES 628984 628984 AUXILIARY 524739 524739 ACADEMIC PROGRAMS 476531 476531 1379409 811089 444723 123597 38969650 29664839 7780480 1524331 16303692 28534502 0 0 5124177 4583387 374157 2966363 0 0 0 0 0 0 183190 84068 601360 587251 160511584 54994153 108852348 105517431 116122788 82132576 160494270 160834123 0 0 0 0 0 0 408055982 385239701 5407385 5549107 0 0 3470658 3912897 41772732 39514432 0 0 0 0 0 0 0 0 1895201 2754753 52545976 51731189 X 140448233 135786701 47610062 32829754 167451711 164892057 355510006 333508512 408055982 385239701 X 2320464 -24321958 X X false true true X false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 2 3.50 0 0 0 1 true 2.00 0 false 0 324524 0 0 X X X false 278902443 1272007 -15296546 5136751 5613249 254127904 235515883 608056 53278504 5072605 5427395 278902443 218900075 1567923 25110874 4786312 5276677 235515883 282487486 937643 -54447073 4600000 5477981 218900075 0.25000 0.65000 0.10000 true false 6131988 6131988 154379596 54994153 99385443 105517431 160834123 F 160834123 0 INTEREST RATE SWAP 2754753 2754753 41290114 38969650 2320464 -23314755 -1007204 -24321959 -22001495 11255840 -23314755 -7107286 -30422041 41677881 -387767 -387767 41290114 33257337 387767 387767 32869570 6100080 6100080 38969650 Part XII Line 2d - OTHER ADJUSTMENTS: FINANCIAL AID -6,100,080 CHANGE IN INTEREST RATE SWAP -859,552 CHANGE IN PLEDGE -90,107 CHANGE IN SPLIT INTEREST AGREEMENT -57,547 Total -7,107,286 Part XIII Line 2d - other adjustments: RENTAL EXPENSES 87,967 FUNDRAISING EVENTS EXPENSE 250,430 GAMING ACTIVITIES DIRECT EXPENSES 60,489 COST OF GOODS SOLD 217,754 ENDOWMENT MANAGEMENT EXPENSE -309,873 ENDOWMENT INCOME TAX 81,000 Total 387,767 Part XII Line 4b - other adjustments: RENTAL EXPENSES -87,967 FUNDRAISING EVENTS EXPENSES -250,430 GAMING ACTIVITIES DIRECT EXPENSES -60,489 COST OF GOODS SOLD -217,754 ENDOWMENT MANAGEMENT EXPENSE 309,873 ENDOWMENT INCOME TAX -81,000 Total -387,767 Part XIII Line 4b - other adjustments: FINANCIAL AID 6,100,080 Part II, Line 9: The School holds two wetlands easements as part of its campus land. This is accounted for as part of the land amount on the School's balance sheet. Part III, Line 4: Included in this collection are such notable books as Charles Darwin's on the origin of species ($15,000), Hartmann Schedel's Nurenberg Chronicle ($35,000), and the latin book of hours' hours of the virgin ($25,000). Additionally, there are books by Thomas Jefferson, John Keats and G. Chaucer. These books and manuscripts provide an opportunity for our students to gain invaluable insight as to historical perspectives and a chance to view classical literature in their original form that they could not otherwise ever see. Additionally, the school possesse a l'earbe sculpture that is on display in the schools' art center for the viewing pleasure of the art students and to the public at exhibitions. Part V, Line 4: The Peddie School Endowment funds are donor driven and primarily provide for financial aid to Peddie's students and support for the School's general operations. Endowment income also provides support for the school's faculty salaries as well as academic programs and field trips for students. Part X, Line 2: Accounting for Uncertainty in Income Taxes clarifies the accounting for uncertainty in income taxes recognized in an enterprise's financial statements. Management has analyzed the tax positions taken by the School and has concluded that as of June 30, 2012 and 2011, there are no uncertain tax taken or expected to be taken that would require recognition of a liability or disclosure in the consolidated financial statements. The School recognizes accrued interest and penalties associated with uncertain tax positions, if any. There was no income tax-related interest or penalties recorded for the years ended June 30, 2012 and 2011. The income tax returns of the School for June 30, 2011, 2010 and 2009 are subject to examination by the IRS and other taxing authorities, generally for three years after they were filed. Part XI, Line 8 - other adjustments: Change in value of split interest agreements -57,545 Change in value of interest rate swap -859,552 Change in pledges -90,107 Total -1,007,204 true true true true true true true false false false false false false false false false false true Part I, Line 3: A statement of Peddie's non-discrimination policy is included in all brochures and catalogs that pertain to student admissions programs and scholarships. Peddie also publishes an annual print advertisement through NAIS (National Association of Independent Schools). true South Asia 0 0 Program Services STUDENTS VISIT INDIA 84464 East Asia and the Pacific 0 0 Program Services STUDENTS VISIT CHINA 69290 East Asia and the Pacific 0 0 Fundraising HEAD VISITS TO CHINA 58268 Central America and the Caribbean 0 0 Program Services STUDENTS VISIT D.R. 22046 Central America and the Caribbean 0 0 Investments 58411831 Europe (Including Iceland and Greenland) 0 0 Investments 7616440 0 0 0 0 66262339 66262339 X SCHOLARSHIP Europe/Iceland/Greenland 1 46000 SCHOLARSHIP FMV SCHOLARSHIP Cent. America/Caribbean 2 62000 SCHOLARSHIP FMV SCHOLARSHIP South Asia 3 102000 SCHOLARSHIP FMV SCHOLARSHIP South America 1 20000 SCHOLARSHIP FMV SCHOLARSHIP North America 1 44000 SCHOLARSHIP FMV false false false false false false Schedule F, Part I, Line 2 The Peddie School uses school and student services (SSS) to process financial aid applications. SSS is a service of the national association of the independent schools. Parents of students complete the parents' financial statement (PFS) form and submit it to SSS along with the required copies of tax returns and proof of income. SSS calculates parents ability to pay. The Peddie School's financial aid committee then meets and tries to match student need with available funds. Financial aid awarded is applied against student tuition accounts for the academic year. Schedule F, Part 1, Line 3 Program services are at fair market value. Investments are at book value. X X X X X true GRENZEBACH GLIER ASSOCIA PO BOX 88277 DEPT A CHICAGOI IL 60680 FEASIBILITY STUDY false 92922 92922 CA FL ID NH NJ NC AUCTION 190713 190713 175016 REUNION 25505 25505 64881 1 11760 11760 10531 227978 227978 250428 250428 -22450 65700 60489 true 1.00000 65700 60489 60489 5211 NJ true false true false 1.00000 MICHAEL B MCKITISH 201 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 false false true BORO OF HIGHTSTOWN 148 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 216000721 501(C)(3) 23000 GENERAL TOWN SUPPORT HIGHTSTOWN FIRE DEPARTMENT 148 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 223279112 501(C)(3) 15000 FIRE DEPARTMENT SUPPORT HIGHTSTOWN FIRST AID SQUAD 148 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 222677976 501(C)(3) 20000 FIRST AID SQUAD SUPPORT GREATER HIGHTSTOWN INC PO BOX 1525 HIGHTSTOWN NJ 08520 223339645 501(C)(4) 10000 TOWN IMPROVEMENT 3 1 FINANCIAL AID 188 5826080 SCHOLARSHIP 990 SCH I Part I Description of Procedure for Monitoring Use of Funds THE PEDDIE SCHOOL USES SCHOOL AND STUDENT SERVICES (SSS) TO PROCESS financial aid applications. SSS is a service of the national association of the independent schools. Parents of student complete the parents' financial statement (PFS) form and submit it to SSS along with the required copies of tax returns and proof of income. SSS calculates parent's ability to pay. The peddie school's financial aid committee then meets and tries to match student need with available funds. Financial aid awarded is applied against student tuition accounts for the academic year. X X true true X X X false false false false false false false false false John Green 383671 276 41000 68118 493065 Michael McKitish 216222 792 21754 1458 240226 Lisa Winick 155946 120 15595 735 172396 Catherine Rodrigue 122993 276 12354 32989 168612 Raymond Cabot 97849 180 10608 56490 165127 NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY - 2004A 222045817 645912CT1 2004-03-31 13077072 SCIENCE BUILDING false false false NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY - 2004B 222045817 645912CS3 2004-03-31 8025000 SCIENCE BUILDING false false false NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY - 2008 222045817 645918UJ0 2008-12-19 25601588 RENOVATION TO ATHLETIC CENTER false false false 0 0 13077072 0 0 4444260 221412 0 0 8411400 0 0 2005 false false false false 0 0 8025000 0 0 0 165500 0 0 7859500 0 0 2005 false false false false 0 0 25601588 0 0 10206845 394743 0 0 15000000 0 0 2009 false false false false false false false false 0 true false false false false 0 true false false false false 0 true false false false 0 false 0 false false true true true wells fargo 8.7 false false false 0 false false false false false 0 false 0 false false yorktown partners investment manager 145000 false Paulson Company trustee investment 141000 false Schedule L, Part IV (A) Name of person: Yorktown Partners (D) Description of transaction: One of the partners serves as an investment advisor and is a member of the investment committee (A) Name of person: Paulson Company (B) Relationship between interested person and organization: trustee investment manager (D) description of transaction: one of the managing directors is a member of the board of trustees X 795 fmv X 7 2640177 fmv false true true Part II, Line 32b Use Third Parties THE SCHOOL USED THEIR INVESTMENT BROKERS TO SELL THEIR CONTRIBUTED MARKETABLE SECURITIES. Form 990, Part I, Line 1, description of organization mission: schools, Peddie embraces excellence and its responsibility to develop tomorrow's leaders while staying true to the spirit of community that has distinguished the school since its founding in 1864. form 990, Part VI, Section B, Line 11: The Peddie School's Finance/Audit committee of the board of trustees, is given a presentation of the 990 and 990T and has the opportunity to meet and thoroughly review the final tax returns. A copy of the peddie school's 990 and 990T is also distributed to the entire board of trustees with an opportunity to raise any questions or concerns. Form 990, Part VI, Section B, Line 12C: A conflict of interest questionaire and statement is completed by the entire board of trustees on an annual basis. The statements are kept on file and reviewed by the school management. Form 990, Part VI, Section B, Line 15: Annually, the executive committee of the peddie board of trustees, conducts a review of compensation for officers and key employees. The committee reviews employee performance evaluations, historical salary, liting of all benefits and a comparison study of salary and benefits for similar positions at comparable schools. Form 990, Part VI, Section C, Line 19: The peddie school does not make its governing documents, conflict of interest policy and financial statements available to the public, except for the financial statements that are made available to bondholders, insurers, rating agencies and others with a financial interest. Form 990, Part XI, Line 5, Changes in Net Assets: Net unrealized loss on investments -23,314,755 Change in value of split interest agreement -57,545 Change in value of interest rate swap -859,552 Change in pledges -90,106 Total to Form 990, Part XI, Line 5 -24,321,958 Form 990, Part XII, Line 2C: The review process for the financial statements has not changed from the prior year. Form 990, Part VIII, Line 7C(I): The gain shown is net of $1,530,372 in investment expenses. TPS MANAGEMENT LLC 201 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 753051210 COMMERCIAL NJ 75583 1645993 THE PEDDIE