2011-03-22T12:19:56-05:00 2010-06-30 Hantzmon Wiebel LLP CPA's 818 E Jefferson St PO Box 1408 Charlottesville VA 22902 990 2009-07-01 540880465 ST ANNE'S-BELFIELD INC STAN 4342965106 2132 IVY ROAD CHARLOTTESVILLE VA 22903 Tom Freshwater 4342965106 2011-03-21 1 Alfred LLayne Jr 4342962156 2009 2016-02-24 21:20:13Z TOM FRESHWATER 2132 Ivy Road charlottesville VA 22903 26993607 0 X WWW.STAB.ORG X 1910 VA THE OPERATION OF A PRIVATE SCHOOL OFFERING QUALITY PRIMARY AND SECONDARY INSTRUCTION FOR STUDENTS OF ALL NATIONALITIES AND RACES. 15 15 337 6 2319 0 6217273 4799179 15691179 16910222 140564 896189 47307 33959 22096323 22639549 2449534 3002074 0 10271820 11033870 0 566269 6086092 6433424 18807446 20469368 3288877 2170181 70542168 76123414 35584888 39924079 34957280 36199335 THE OPERATION OF A PRIVATE SCHOOL OFFERING QUALITY PRIMARY AND SECONDARY INSTRUCTION FOR STUDENTS OF ALL NATIONALITIES AND RACES. 0 0 3002074 3002074 FINANCIAL ASSISTANCE (TUITION REDUCTIONS) - FINANCIAL ASSISTANCE WAS PROVIDED TO STUDENTS. APPROXIMATELY 351 STUDENTS RECEIVED TUITION REDUCTIONS DURING THE YEAR. 13189211 16926282 ST. ANNE'S - BELFIELD SCHOOL IS AN INDEPENDENT SCHOOL PROVIDING EDUCATIONAL SERVICE TO APPROXIMATELY 850 STUDENTS GRADES PRE-KINDERGARTEN THROUGH 12TH GRADE. 16191285 1 1 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 29 0 337 1 1 1 1 EI 0 0 0 0 0 0 0 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 X ST ANNE'S-BELFIELD INC 4342965106 2132 IVY ROAD CHARLOTTESVILLE VA 22903 Richard Booth Jr 4.00 X X 0 0 0 Katie Brooks 4.00 X X 0 0 0 Robert Hardie 4.00 X X 0 0 0 Amanda Megargel 4.00 X X 0 0 0 Kenneth Abraham 4.00 X 0 0 0 michael derdeyn 4.00 X 0 0 0 Robert P Collins 4.00 X 0 0 0 Harry Frazier IV 4.00 X 0 0 0 Mike Milligan 4.00 X 0 0 0 Karen O'Niel 4.00 X 0 0 0 Myron Ripley 4.00 X 0 0 0 Susan Smith 4.00 X 0 0 0 Craig K Littlepage 4.00 X 0 0 0 R Ted Weschler 4.00 X 0 0 0 John W Zunka 4.00 X 0 0 0 DAVID LOURIE 40.00 X 390847 0 28419 MICHAEL WAYLETT 40.00 X 115254 0 13425 506101 0 41844 2 0 1 0 Cliff Harrison 3410 Brookland Manor Drive Powhatan VA 23139 Construction Consultant 178763 1 4799179 70306 4799179 TUITION AND FEES 611600 14579229 14579229 OTHER AUXILIARY INCOME 611600 1351886 1351886 Food Service Sales 611600 717741 717741 SUMMER PROGRAM FEES 611600 143871 143871 SVC & APPLICATION FEES 611600 117495 117495 16910222 236924 2319 234605 24643 24643 4923003 4288381 634622 634622 634622 81737 65677 16060 16060 Miscellaneous Revenue 900099 17899 17899 17899 22639549 16926282 2319 911769 3002074 3002074 533853 432422 85416 16015 8561154 6859464 1369488 332202 334975 271330 53596 10049 962164 779353 153946 28865 641724 519796 102676 19252 147557 147557 56335 56335 177506 1317 176140 49 89238 77171 12067 394429 319487 63109 11833 1161318 943154 183717 34447 78771 78771 Faculty Financial Aid 1106250 1106250 Boarding and food servi 799399 799399 Bond Expenses 628752 628752 Supplies 620395 570790 44114 5491 Repairs and maintenance 415796 336795 66527 12474 757678 172483 489603 95592 20469368 16191285 3711814 566269 26462 30003554 12994799 9286670 6364549 353061 327327 200000 150000 58767 97568 78761 128259 52537 73491 28858350 12396900 15892778 16461450 8689749 16886118 6254 6254 247248 337795 5646327 22295804 70542168 76123414 2012856 4683744 30000000 30000000 1198666 868892 2373366 4371443 35584888 39924079 X 22521534 26607320 10188537 7376098 2247209 2215917 34957280 36199335 70542168 76123414 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8689749 7196042 1252204 -228203 -23674 16886118 6275951 3304698 -724338 -166562 8689749 0.87000 0.15000 1 0 124043 124043 18311508 6304490 12007018 4785761 3606762 1178999 5637038 2485648 3151390 16461450 APPROPRIATED CASH - SCHOOL RELATED ORGANIZATIONS 150241 CONSTRUCTION IN PROGRESS 22093023 CSV of life insurance 52540 22295804 ADVANCED TUITION 1667746 FUNDS HELD FOR DEFERRED OBLIGATIONS 32927 FUNDS HELD FOR SCHOOL RELATED ORGANIZATIONS 150241 capital lease obligation 194952 interest rate swap liability 2065903 annuity liability 259674 4371443 22639549 20469368 2170181 379844 -1307970 -928126 1242055 18751352 379844 -1242293 -862449 19613801 23674 3002074 3025748 22639549 17509297 65677 65677 17443620 23674 3002074 3025748 20469368 Part V, Line 4: Description of Intended Use of Endowment Funds: The School's endowment consists of approximately 30 individual funds established for a variety of purposes. The endowment includes both donor-restricted endowment funds established for scholarships and operational uses as well as funds designated by the Board of Trustees to function as endowments. Part X: Description of Uncertain Tax Positions Under FIN 48: The School has reviewed and evaluated the relevant technical merits of each of its tax positions in accordance with guidance established by the Financial Accounting Standards Board and determined that there are no uncertain tax positions that would have a material impact on the financial statements of the School. The School's federal tax return for the years ended June 30, 2007, 2008, and 2009 are subject to examination by the Internal Revenue Service and the Virginia Department of Taxation, generally for three years after they were filed. Part XI, Line 8 - Other Adjustments: Market value adjustments: -1307970. Part XII, Line 2d - Other Adjustments: COST OF GOODS SOLD: 65677. change in swap: -1273200. change in split interest: -34770. Part XII, Line 4b - Other Adjustments: Tuition reductions: 3002074. Part XIII, Line 2d - Other Adjustments: Cost of goods sold netted with revenue: 65677. Part XIII, Line 4b - Other Adjustments: Tuition reductions: 3002074. 1 1 1 A STATEMENT OF THE NONDISCRIMINATORY POLICY OF ST. ANNE'S BELFIELD, INC. IS PRINTED ON ALL CATALOGUES, APPLICATIONS, NOTIFICATIONS AND OTHER SIGNIFICANT PUBLICATIONS OF THE SCHOOL. IN ORDER TO ASSIST IN RECRUITING A STUDENT BODY WHICH REFLECTS A BROAD SOCIAL AND ECONOMIC BACKGROUND, ALL SUCH MATERIALS CONTAIN A CLEAR STATEMENT ON THE SCHOOL'S NONDISCRIMINATORY POLICIES AS APPLIED TO ALL ASPECTS OF SCHOOL LIFE. A SPECIAL EMPHASIS IS MADE OF THESE POLICIES IN THE AREAS OF ADMISSIONS AND FINANCIAL AID. 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 Tuition Reductions - Financial Aid 351 3002074 Book Value - Cost The school provided non-cash financial aid to 351 students in the form of reduced tuition. Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: The School provides non-cash financial aid to students in the form of reduced tuition. X 1 1 X X X 0 0 0 0 0 0 0 0 0 DAVID LOURIE 390847 0 0 0 0 0 9333 0 19086 0 419266 0 0 0 Part I, Line 1a Pursuant to a formal employment agreement approved by the board, a housing allowance is provided to the head of the school. This housing allowance is included in the head of the school's W-2 compensation. Econ Devel Authority of Albemarle Cty VA 521297503 Noneavail 2009-08-11 30000000 See schedule O 0 0 30000000 12045109 30000000 2010 1 0 0 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 1 0 NA 0 1 1 David Lourie replace school provided residence razed due to construction. X 250000 150000 0 1 1 150000 X 5 54369 fair market value X Field trips 2 5356 Cost X School supplies 20 10581 Cost 0 0 0 1 Third Party Use: Part I, Line 32b: THE SCHOOL USES BROKERS TO SELL PUBLICLY TRADED SECURITIES CONTRIBUTED DURING THE YEAR. Form 990, Part VI, Section B, line 11 The form 990 is thoroughly reviewed by the School's business manager and associate head of school prior to filing. Form 990, Part VI, Section B, line 12c on an annual basis, each member of the board of trustees signs a statement which affirms that they have received a copy of the conflict of interest policy, that they have read and understand the policy, that the agree to comply with the policy, and that they understand that the school must engage in primarily activities which accomplish one or more of its tax-exempt purpose. Periodic reviews are conducted to determine if potential conflicts of interest exist and should be evaluated. the conflict of interest policy has specific procedures to address proposed transactions or arrangements that they may potentially give rise to a conflict of interest and specific procedures to address potential violations of the conflict of interest policy. Form 990, Part VI, Section B, line 15a A committee was formed by the board to prepare a long-term employment contract for the head of the school. this committee, in consultation with various professionals, designed the contract and presented it to the full board. the contract was approved by the board. Form 990, Part VI, Section C, line 18 The school's 1023, 990, and 990-t can be distributed to the public upon request. However, all requests are subject to the approval of the headmaster and the school's consideration of the intended use of the documents. Form 990, Part VI, Section C, line 19 The school's governing documents, conflict of interest policy, and audited financial statements can be distributed to the public upod request. However, all requests are subject to the approval of the headmaster and the school's consideration of the intended use of the documents. Form 990, Page 12, Line 2c Financial Statement Reporting The school's finance committee is responsible for oversight of the audit and selection of an independent accountant. Schedule K Notes to schedule K Part I, Line A, Column (f): The Economic Development Authority of Albemarle County, Virginia's Variable Rate Educational Facilities Revenue Refunding Bonds (St. Anne's Belfield, Inc.), Series 2009 (the "Series 2009 Bonds") were issued to currently refund the outstanding principal amount of the Economic Development Authority of Albemarle County, Virginia's Variable Rate Educational Facilities Revenue Bonds (St. Anne's Belfield, Inc.), Series 2008 (the "Series 2008 Bonds"). The proceeds of the Series 2008 Bonds were used to finance certain capital improvements at St. Anne's Belfield's (the "Borrower") facilities, primarily consisting of the acquisition, construction and equipping of a new academic village for students in pre-school through 8th grade and to finance costs of issuing the Series 2008 Bonds. This Form 990 and Schedule K are being completed for the tax year ended June 30, 2010. On December 1, 2010, the Series 2009 Bonds were deemed reissued for federal tax purposes under Section 1001 of the Internal Revenue Code. Part II, Column A, Line 1: This amount represents the par amount of the Series 2009 Bonds, which was spent on the date of issuance of the Series 2009 Bonds to refund the outstanding principal amount of the Series 2008 Bonds. Part II, Column A, Line 4: On the issue date of the Series 2009 Bonds, there remained unspent $24,415,190.96 in Series 2008 Bond proceeds, which became transferred proceeds of the Series 2009 Bonds and have been held in the project fund. The amount on this line represents this amount less proceeds spent since the issue date of the Series 2009 Bonds plus investment earnings on these amounts. Part II, Column A, Line 5: All proceeds of the Series 2009 Bonds were spent to refund the outstanding principal amount of the Series 2008 Bonds on the issuance date of the Series 2009 Bonds. No portion of the Series 2009 Bonds was spent on costs of issuance. Part II, Column A, Line 7: All proceeds of the Series 2009 Bonds were spent to refund the outstanding principal amount of the Series 2008 Bonds on the issuance date of the Series 2009 Bonds. The proceeds of the Series 2008 Bonds were used to finance capital expenditures, including costs of issuing the Series 2008 Bonds. As described in Part II, Column A, Line 4, certain amounts remain in the project fund and the Borrower reasonably expects that all such proceeds will be spent on capital expenditures. Part IV, Column A, Line 5: The Series 2009 Bond proceeds were used to refund the outstanding principal amount of the Series 2008 Bonds on the issue date of the Series 2009 Bonds and were not invested beyond their temporary period. The transferred proceeds are still subject to their temporary period. Part IV, Column A, Line 6: The sale proceeds of the Series 2009 Bonds met the 6-month exception to rebate. The transferred proceeds from the Series 2008 Bonds did not qualify for a spending exception to rebate.