2012-05-14T09:37:29-05:00 2011-06-30 PARENTEBEARD LLC 1200 ATWATER DRIVE SUITE 225 MALVERN PA 19355 990 2010-07-01 231370500 THE EPISCOPAL ACADEMY EPIS 4844241420 1785 BISHOP WHITE DRIVE NEWTOWN SQUARE PA 19073 BRADLEY CATES 4844241420 2012-05-07 1 JULIUS GREEN CPA 6106478100 2010 2016-02-24 21:20:13Z L HAMILTON CLARK 1785 BISHOP WHITE DRIVE NEWTOWN SQUARE PA 19073 43415199 0 X WWW.EPISCOPALACADEMY.ORG X 1785 PA INDEPENDENT SCHOOL EDUCATION FOR GRADES PRE-K THROUGH 12 30 29 448 300 129141 -230557 7006466 5724811 31041374 31208612 1254810 2655414 498108 1963181 39800758 41552018 4441643 4832050 0 0 20807664 21769929 0 41636 1964695 16829158 15429618 42078465 42073233 -2277707 -521215 255589701 254774251 42427630 38073555 213162071 216700696 CHALLENGING AND NURTURING MIND, BODY, AND SPIRIT, WE INSPIRE BOYS AND GIRLS TO LEAD LIVES OF PURPOSE, FAITH, AND INTEGRITY. 0 0 36088280 4832050 31208612 THE EPISCOPAL ACADEMY IS AN INDEPENDENT, CO-EDUCATIONAL DAY SCHOOL LOCATED IN NEWTOWN SQUARE, PENNSYLVANIA. ITS CURRICULUM IS COLLEGE PREPARATORY AND INCLUDES GRADES PRE-KINDERGARTEN THROUGH TWELVE. THE ENROLLMENT AT THE ACADEMY IS APPROXIMATELY 1,220 STUDENTS.THE ACADEMY GREATLY VALUES DIVERSITY OF ALL KINDS, INCLUDING RACIAL AND ECONOMIC. TO HELP ACHIEVE THIS DIVERSITY, APPROXIMATELY $5 MILLION OF NEED-BASED FINANCIAL AID IS GRANTED TO FAMILIES EACH YEAR IN ORDER TO MAKE IT POSSIBLE FOR CHILDREN FROM LOWER INCOME FAMILIES TO ATTEND THE ACADEMY. APPROXIMATELY 20% OF THE STUDENTS (FAMILIES) RECEIVE SOME FINANCIAL AID. 36088280 1 1 0 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 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 6 0 1 448 1 1 1 0 0 0 0 1 1 0 0 0 0 X 30 29 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 1 1 1 1 0 PA X MR BRADLEY CATES CFO 4844241424 1785 BISHOP WHITE DRIVE NEWTOWN SQUARE PA 19073 HARRY MADEIRA 3.00 X X 0 0 0 DEBORAH HIRTLE 3.00 X X 0 0 0 FRANCIS LETO 3.00 X X 0 0 0 HENRY NASSAU 3.00 X X 0 0 0 EDWARD VICK 3.00 X X 0 0 0 MELANIE COX 3.00 X X 0 0 0 PATRICIA PORTER 3.00 X X 0 0 0 WALTER BUCKLEY 3.00 X X 0 0 0 GEOFFREY WORDEN 3.00 X X 0 0 0 ELLEN BLOMMER 3.00 X 0 0 0 GRETCHEN BURKE 3.00 X 0 0 0 JEREMY COOTE 3.00 X 0 0 0 STEVEN COPIT 3.00 X 0 0 0 STEPHEN DANA 3.00 X 0 0 0 JAMES FLINT 3.00 X 0 0 0 ELIZABETH GADSDEN 3.00 X 0 0 0 JEAN HAAB 3.00 X 0 0 0 PERI HIGGINS 3.00 X 0 0 0 LORI KELLY 3.00 X 0 0 0 CAROLYN KUTTEH 3.00 X 0 0 0 KARL MAYRO 3.00 X 0 0 0 HOWARD MORGAN 3.00 X 0 0 0 RICHARD NORTHROP 3.00 X 0 0 0 DAVID REAPE 3.00 X 0 0 0 HOLLY SANDO RIECK 3.00 X 0 0 0 JAY SHAH 3.00 X 0 0 0 BRIAN TIERNEY 3.00 X 0 0 0 JENNIFER WEYMOUTH 3.00 X 0 0 0 THOMAS ZUG 3.00 X 0 0 0 L HAMILTON CLARK 40.00 X X 313411 0 168354 BRADLEY CATES 40.00 X 179460 0 14713 MINDY HONG 40.00 X 129623 0 26771 MARY AGNES MALTER 40.00 X 123920 0 22001 JAMES SQUIRE 40.00 X 123920 0 0 ANDREA DANIAL 40.00 X 119819 0 29492 GEOFFREY WAGG 40.00 X 114748 0 30108 1104901 0 291439 17 0 1 0 SOUTHAMPTON WINDOW CLEANING JANITORIAL S PO BOX 542 SOUTHAMPTON PA 18966 JANITORIAL SERVICES 617182 INTERNATIONAL MANAGEMENT CORPORATION 3 GREAT VALLEY PARKWAY SUITE 200 MALVERN PA 19355 CONSTRUCTION MANAGEMENT 586278 EPLUS TECHNOLOGY INC PO BOX 404398 ATLANTA GA 30384 TECHNOLOGY CONSULTING 418923 EAGLE WOLFINGTON LEASING PO BOX 218 EXTON PA 19341 TRANSPORTATION 303038 KARP GRAPHIC DESIGN 2520 CHRISTIAN STREET PHILADELPHIA PA 19146 GRAPHIC DESIGN 196565 7 5724811 315302 5724811 TUITION & FEES 611110 30536770 30536770 SUMMER PROGRAMS 611110 366419 366419 AQUATICS REVENUE 611110 282503 282503 APPLICATION FEES 611110 22920 22920 31208612 1426637 1426637 126851 116141 10710 10710 10710 2658390 12688 1442301 1216089 12688 1228777 1228777 583877 254550 329327 329327 65583 50189 15394 15394 CAFETERIA INCOME 611110 1086709 1086709 PROGRAM FEES 812900 241945 241945 DAY CAMP 624410 129141 129141 149955 149955 1607750 41552018 31208612 129141 4489454 4832050 4832050 541784 541784 16493585 13940833 1820996 731756 1145811 967735 127280 50796 2355385 1954550 298240 102595 1233364 1009649 170718 52997 42317 42317 21977 21977 41636 41636 178815 178815 896405 852527 43878 315456 37224 278132 100 241713 143861 97852 1523998 1523998 391165 391165 16463 16463 1051262 1051262 5184881 5184881 337877 337877 SUPPLIES/EQUIP/SERVICE 2214118 1929659 216326 68133 CAFETERIA PURCHASES 564217 564217 SCHOOL TRIPS 319022 319022 ATHLETIC EXPENSES 213940 213940 GIVING & SUPPORT 177579 2000 175579 1738413 831830 165480 741103 42073233 36088280 4020258 1964695 1500 1500 18772731 12403536 12347060 9821664 281595 398773 1000000 1000000 41189 31146 314799 295060 208483260 15349493 196588763 193133767 26242064 33131206 0 2092715 0 2464884 255589701 254774251 2527053 2705835 8757390 9163214 21835000 24525753 8316691 991496 1678753 42427630 38073555 X 193812358 194294780 1130542 6376894 18219171 16029022 213162071 216700696 255589701 254774251 X -521215 4059840 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 28024893 2901725 5400259 540685 652617 35133575 22962392 2109046 4178360 531928 692977 28024893 23877378 4155764 -4035439 458333 576978 22962392 0.58000 0.42000 0.00000 0 0 31192214 31192214 158378242 12394155 145984087 8650989 2410156 6240833 10261815 545182 9716633 193133767 DISCOUNT FOR FUTURE INTERESTS 1063535 INTEREST RATE SWAP LIABILITY 338524 AGENCY FUNDS 30010 DEFERRED COMPENSATION LIABILITY 246684 1678753 41552018 42073233 -521215 3055371 731390 273079 4059840 3538625 40056198 3055371 -4717521 -1662150 41718348 -166330 -166330 41552018 37248963 166330 166330 37082633 178815 4811785 4990600 42073233 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE INTENDED USE OF THE ENDOWMENT FUNDS IS TO PROVIDE INCOME THAT WILL SUPPORT THE SCHOOL IN PERPETUITY. THE ENDOWMENT FUNDS ARE INVESTED AND A PORTION OF THE INVESTMENT RETURN PROVIDES SUPPORT TO THE SCHOOL'S OPERATIONS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SCHOOL ACCOUNTS FOR UNCERTAINTIES IN INCOME TAXES IN ACCORDANCE WITH AUTHORITATIVE GUIDANCE, WHICH PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. THE SCHOOL'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR 2010, 2009, AND 2008 REMAIN SUBJECT TO EXAMINATION BY THE IRS. THE SCHOOL'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. PART XI, LINE 8 - OTHER ADJUSTMENTS: NET GAIN ON SWAP 87,785. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 185,294. PART XII, LINE 2D - OTHER ADJUSTMENTS: NET GAIN ON SWAP 87,785. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 185,294. INVESTMENT MANAGEMENT FEES -178,815. FINANCIAL AID INCLUDED IN REVENUE ON FINANCIAL STATEMENTS -4,811,785. PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -116,141. COST OF GOODS SOLD -50,189. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 116,141. COST OF GOODS SOLD 50,189. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID INCLUDED IN REVENUE ON FINANCIAL STATEMENTS 4,811,785. 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 RACIAL NONDISCRIMINATORY POLICY CONCERNING STUDENTS WAS PUBLISHED IN THE PHILADELPHIA DAILY NEWS. THE FOLLOWING WORDING IS ALSO USED ON ALL ADMISSION APPLICATIONS AND ON THE SCHOOL'S WEBSITE: "THE EPISCOPAL ACADEMY DOES NOT DISCRIMINATE IN THE ADMISSION PROCESS ON THE BASIS OF RACE, COLOR, RELIGION, SEXUAL ORIENTATION, NATIONAL ORIGIN, DISABILITY, OR FAMILIAL AFFILIATION." X X X X X 1 MARTS AND LUNDY 1200 WALL STREET WEST LYNDHURST NJ 07071 ENDOWMENT CAMPAIGN CONSULTANT 0 0 41636 0 41636 PA STARFEST AUCTION 302350 302350 5300 560 2125 47623 3635 15210 HOUSE TOUR 76550 76550 3139 16898 26 204977 204977 2330 157730 583877 583877 5300 2890 2125 50762 3635 189838 254550 329327 1 FINANCIAL AID 253 4780005 BOOK VOUCHERS 144 22265 BUCKLEY SCHOLARS 12 29780 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE EPISCOPAL ACADEMY PROVIDES FINANCIAL AID TO FAMILIES WHO QUALIFY BASED ON AN ASSESSMENT BY THE SCHOOL AND STUDENT SERVICES BY NAIS (SSS BY NAIS). THE EPISCOPAL ACADEMY'S NEED-BASED FINANCIAL AID PROGRAM ENABLES STUDENTS TO ATTEND THE ACADEMY REGARDLESS OF A FAMILY'S ABILITY TO PAY FULL TUITION. ADMISSION DECISIONS AND DETERMINATION OF FINANCIAL AID ARE MADE BY TWO SEPARATE COMMITTEES. ONCE AN APPLICANT IS OFFERED ADMISSION, THEIR APPLICATION FOR FINANCIAL AID IS REVIEWED AND ASSESSED BY THE FINANCIAL AID COMMITTEE. X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 L HAMILTON CLARK 313411 0 0 0 0 0 147005 0 21349 0 481765 0 0 0 BRADLEY CATES 179460 0 0 0 0 0 14350 0 363 0 194173 0 0 0 MINDY HONG 129623 0 0 0 0 0 9863 0 16908 0 156394 0 0 0 PART I, LINE 1A HEAD OF SCHOOL L. HAMILTON CLARK HAS A RESIDENCE THAT HE LIVES IN ON CAMPUS. THE HOUSING ALLOWANCE IS NOT INCLUDED IN HIS TAXABLE COMPENSATION SINCE IT IS EXCLUDED UNDER INTERNAL REVENUE CODE SECTION 119. HEAD OF SCHOOL L. HAMILTON CLARK ALSO HAS A MEMBERSHIP TO A LOCAL COUNTRY CLUB. THE MEMBERSHIP IS USED FOR SCHOOL RELATED FUNCTIONS SUCH AS MEETINGS AND ALUMNI EVENTS. THE MEMBERSHIP DUES ARE BILLED TO MR. CLARK AND PAID DIRECTLY TO THE CLUB BY THE SCHOOL AND ARE NOT INCLUDED IN HIS TAXABLE COMPENSATION. PART I, LINE 4B THE SCHOOL HAS A NON-QUALIFIED DEFERRED COMPENSATION AGREEMENT WITH THE HEAD OF SCHOOL. THE AGREEMENT PROVIDES FOR THE SCHOOL TO CONTRIBUTE $125,000 AND $100,000 FOR JUNE 30, 2011 AND 2010, RESPECTIVELY TO AN INVESTMENT ACCOUNT. DELAWARE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 231997311 2010-02-01 15135000 REPAYMENT OF PRIOR BONDS USED FOR FINANCING COSTS OF CONSTRUCTION PROJECT 0 0 0 UWCHLAN TOWNSHIP INDUSTRIAL DEVELOPMENT AUTHORITY 651225907 2008-12-26 4200000 REPAYMENT OF PRIOR BONDS USED FOR FINANCING COSTS OF CONSTRUCTION PROJECT 0 0 0 UPPER DARBY INDUSTRIAL DEVELOPMENT AUTHORITY 043721223 2006-12-07 2500000 FINANCING PARTIAL COSTS OF ACQUISITION, CONSTRUCTION & EQUIPPING NEW CAMPUS 0 0 0 UPPER DARBY INDUSTRIAL DEVELOPMENT AUTHORITY 043721223 2004-12-23 9300000 ACQUISITION OF LAND AND PRELIMINARY SITE IMPROVEMENTS FOR CONSTRUCTION 0 0 0 15135000 15135000 2008 1 0 1 1 4200000 4200000 2008 1 0 1 1 2500000 2500000 2008 0 0 1 1 9300000 50000 9250000 2008 0 0 1 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 1 0 1 0.00000 0.00000 0.00000 1 0 0 1 0 1 0.00000 0.00000 0.00000 1 0 1 0 0 0 0 0 1 1 BROWN BROTHERS HARRIMAN 4.500000000000 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 X 16 197282 FMV X AUCTION ITEMS 284 118020 FMV 0 0 1 1 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS REPORTED IN PART I, COLUMN (B) IS BASED ON THE FOLLOWING: PUBLICLY TRADED SECURITIES - NUMBER OF DONORS AUCTION ITEMS - NUMBER OF ITEMS DONATED THIRD PARTY USE: PART I, LINE 32B: THE SCHOOL HIRES AN AUCTIONEER FOR THE STARFEST DINNER/AUCTION EVENT. FORM 990, PART VI, SECTION B, LINE 11 THE ACADEMY'S CFO AND CONTROLLER REVIEW THE FORM 990 AND THEN SUBMIT CHANGES TO ITS TAX PREPARERS FOR REVIEW. ONCE REVIEWED BY THE ACADEMY'S TAX PREPARER, THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS AND APPROVES THE FORM 990. THE FORM 990 IS THEN SENT TO THE FULL BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE GOVERNING BOARD SUBMIT A RELATED PARTY AND CONFLICT OF INTEREST QUESTIONNAIRE ANNUALLY. A BOARD LIAISON REVIEWS THE FORMS FOR ANY CONFLICTS OF INTEREST. BOARD MEMBERS WITH AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST RECUSE THEMSELVES FROM THE MEETING AND DO NOT VOTE ON THE MATTER CAUSING THE CONFLICT OF INTEREST. OTHER OFFICERS OF THE ORGANIZATION THAT ARE NOT BOARD MEMBERS WILL BE REQUIRED TO COMPLETE THE CONFLICT OF INTEREST QUESTIONNAIRE IN THE FUTURE. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD IS RESPONSIBLE FOR SETTING AND DETERMINING THE COMPENSATION OF THE HEAD OF SCHOOL AND CHIEF FINANCIAL OFFICER. NATIONAL PEER SCHOOL DATA (JRPO) AND LOCAL INDEPENDENT SCHOOL DATA IS GATHERED IN ORDER TO MAKE COMPARISONS. DECISIONS OF THIS COMMITTEE REGARDING COMPENSATION ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL WILL MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 3,055,371. PRIOR PERIOD ADJUSTMENTS: 731,390. NET GAIN ON SWAP 87,785. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 185,294. TOTAL TO FORM 990, PART XI, LINE 5: 4,059,840.