2011-05-13T15:50:20-05:00 2010-06-30 EisnerAmper LLP 750 ROUTE 202 SOUTH SUITE 500 BRIDGEWATER NJ 08807 990 2009-07-01 210634492 THE PEDDIE SCHOOL PEDD 6094907510 201 south main st HIGHTSTOWN NJ 08520 MICHAEL B MCKITISH 6094907510 2011-05-13 1 DOUGLAS D TAPP CPA MST 9082185002 2009 2016-02-24 21:20:13Z X MICHAEL B MCKITISH 201 south main st HIGHTSTOWN NJ 08520 94204403 0 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 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. 33 31 427 160 2610237 -291632 4297175 4014995 19511068 20593325 -6073969 10259533 3223681 3249859 20957955 38117712 5089596 5444450 0 15437219 15801154 0 1725614 16222906 17355824 36749721 38601428 -15791766 -483716 350893150 367403050 54766681 54391315 296126469 313011735 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. 0 0 28754213 5444450 20593325 A PRIVATE SECONDARY SCHOOL INCLUDING $5,444,450 IN SCHOLARSHIPS AND OTHER FINANCIAL AID. 28754213 1 1 0 0 0 1 1 0 1 1 0 1 1 0 1 0 1 1 1 1 0 1 1 1 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0 1 0 0 0 0 1 94 0 1 427 1 1 1 1 CJ UK BD VI EI 0 0 0 0 0 0 0 33 31 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X THE PEDDIE SCHOOL 6094907510 201 SOUTH MAIN ST HIGHTSTOWN NJ 085201010 Chris Acito 0.00 X 0 0 0 Michael Armellino 0.00 X 0 0 0 Chris Bright 50.00 X 61657 0 17637 Arthur Brown 0.00 X 0 0 0 Stephen Brown 0.00 X 0 0 0 Roger Burns 0.00 X 0 0 0 Karen Buroojy 0.00 X 0 0 0 Emily Caspersen 0.00 X 0 0 0 Joyce Celli 0.00 X 0 0 0 Angie Cook 0.00 X 0 0 0 Chip Craig 0.00 X 0 0 0 Al DiCenso 0.00 X 0 0 0 Ed Dippold 0.00 X 0 0 0 Jon Eckert 0.00 X 0 0 0 Jeff Finn 0.00 X 0 0 0 Lisa Forrester 0.00 X 0 0 0 Roy Grossman 0.00 X 0 0 0 Roger Hansen 0.00 X 0 0 0 Terry Hensle 0.00 X 0 0 0 Bob Hillier 0.00 X 0 0 0 Ann Marie Horner 0.00 X 0 0 0 Robert Kaye 0.00 X 0 0 0 Annette Liberson 0.00 X 0 0 0 Wight Martindale 0.00 X 0 0 0 David Mitchell 0.00 X 0 0 0 Harold Neiderhoffer 0.00 X 0 0 0 Hal Rubin 0.00 X 0 0 0 Ron Schlosser 0.00 X 0 0 0 Anne Seltzer 0.00 X 0 0 0 Greg Smith 0.00 X 0 0 0 Jim Wong 0.00 X 0 0 0 Nancy Yunker 0.00 X 0 0 0 Michael McKitish 50.00 X 211200 0 21000 John Green 80.00 X 254906 0 159650 Lisa Winick 50.00 X 145800 0 14460 Catherine Rodrigue 50.00 X 115500 0 45593 Thomas Phelan 50.00 X 108600 0 20767 Edward deVillafranca 50.00 X 119600 0 16223 1017263 0 295330 6 0 1 0 skanska 1633 LITTLETON RD PARSIPPANY NJ 07054 CONSTRUCTION 16062957 RMJM NORTH AMERICA PO BOX 512642 PHILADELPHIA PA 19175 ARCHITECT 1358444 DAKOTA BUILDING SERVICES INC 3 AQUA TERRACE HAMILTON NJ 08620 JANITORIAL SERVICES 486030 ALLEN & STULTS COMPANY INC 106 NORTH MAIN STREET HIGHTSTOWN NJ 08520 INSURANCE 311666 HANOVER CONSTRUCTION LLC PO BOX 158 WRIGHTSTOWN NJ 08562 CONTRACTOR 237022 6 4014995 366391 4014995 TUTION AND FEES 611600 20593325 20593325 20593325 4087422 -122386 4209808 226059 171249 54810 54810 54810 61696018 55523907 6172111 6172111 6172111 293470 227617 65853 65853 23000 12494 10506 10506 216809 151424 65385 65385 GOLF COURSE, LACROSSE, 713910 2386211 2386211 DAY CARE 624410 275484 275484 SNACK BAR 722210 180825 70928 109897 210785 210785 3053305 38117712 20593325 2610237 10899155 60350 60350 5211350 5211350 172750 172750 758258 107886 516674 133698 11684599 8739999 2024841 919759 915515 770956 99658 44901 1589809 1181349 289782 118678 852973 640521 145867 66585 101956 101956 42535 42535 2386880 2386880 692156 391206 233049 67901 656130 656130 1358050 1127181 203708 27161 173504 43761 77466 52277 2252442 2252442 4485356 3693668 761976 29712 501975 86311 415664 plant & Building Servic 972212 865217 94487 12508 contracted services 723729 577274 112302 34153 FOOD SERVICES 588067 588067 AUXILIARY 494215 494215 ACADEMIC PROGRAMS 417289 417289 1509328 1170506 120541 218281 38601428 28754213 8121601 1725614 52577373 32522730 196341 5328109 4773489 49766 4767 184778 158026 631156 629515 158061006 45649228 99477792 112411778 126121013 103930199 65766123 112305710 560699 666836 350893150 367403050 4659062 5203750 2668805 3120499 45964330 43961031 1474484 2106035 54766681 54391315 X 111109804 125915845 35399642 31089412 149617023 156006478 296126469 313011735 350893150 367403050 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 2 3.50 0 0 0 1 1 2.00 0 0 129460 324524 X X X 0 218900075 1567923 25110874 4786312 5276677 235515883 282487486 937643 -54447073 4600000 5477981 218900075 0.24000 0.66000 0.10000 1 0 7115447 7115447 150945559 45649228 105296331 112411778 112305710 F 112305710 INTEREST RATE SWAP 2106035 2106035 38117712 38601428 -483716 17526280 -157298 17368982 16885266 48435796 17526280 -5384100 12142180 36293616 2386880 -562784 1824096 38117712 31550530 720082 720082 30830448 2386880 5384100 7770980 38601428 Part II, Line 9: Description of How Organization Reports Conservation Easements: 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 possesses 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: Description of Intended Use of Endowment Funds: The Peddie School endowment funds are donor driven and primarily provide for financial aid to Peddie's students. Endowment income also provides support for the school's faculty salaries as well as academic programs and field trips for students. Part X: Description of Uncertain Tax Positions Under FIN 48: The FASB issued an interpretation regarding Accounting for Uncertainty in Income Taxes. This interpretation clarifies the accounting of uncertainty in income taxes recognized in an enterprise's financial statements in accordance with Accounting for Income Taxes, and is effective for fiscal years beginning after December 15, 2008. The School adopted the provisions of the pronouncement, and the adoption did not impact the amounts reported in the School's consolidated financial statements. The School recognizes accrued interest and penalties associated with uncertain tax positions, if any. There was no income tax related interest and penalties recorded for June 30, 2010 and 2009. The income tax returns of the School for June 30, 2009, 2008 and 2007 are subject to examination by the IRS and other various taxing authorities, generally for three years after they were filed. Part XI, Line 8 - Other Adjustments: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS: -157298. Part XII, Line 2d - Other Adjustments: FINANCIAL AID: -5384100. Part XII, Line 4b - Other Adjustments: RENTAL EXPENSES: -171249. FUNDRAISING EVENTS EXPENSES: -227617. GAMING ACTIVITIES DIRECT EXPENSES: -12494. COST OF GOODS SOLD: -151424. Part XIII, Line 2d - Other Adjustments: RENTAL EXPENSES: 171249. FUNDRAISING EVENTS EXPENSE: 227617. GAMING ACTIVITIES DIRECT EXPENSES: 12494. COST OF GOODS SOLD: 151424. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT: 157298. Part XIII, Line 4b - Other Adjustments: FINANCIAL AID: 5384100. 1 1 1 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). 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 EUROPE 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION SCHOLARSHIP 82100 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION SCHOLARSHIP 51050 CARIBBEAN 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION SCHOLARSHIP 39600 0 0 172750 SCHOLARSHIP EUROPE 2 82100 SCHOLARSHIP FMV SCHOLARSHIP MIDDLE EAST AND NORTH AFRICA 2 51050 SCHOLARSHIP FMV SCHOLARSHIP CARIBBEAN 1 39600 SCHOLARSHIP FMV Procedure for Monitoring Grants Outside the U.S.: 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. Method Used to Acccount for Expenditures: Schedule F, Part I, Line 3: FAIR MARKET VALUE X X X X X 0 NJ FL IA AUCTION 243727 243727 141004 REUNION 34878 34878 73648 1 14865 14865 12965 293470 293470 227617 227617 65853 23000 11930 564 1 1.00000 23000 11930 564 12494 10506 NJ 1 0 1 0 1.00000 MICHAEL B MCKITISH 201 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 0 0 1 BORO OF HIGHTSTOWN 148 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 216000721 501(c) 23000 FMV GENERAL TOWN SUPPORT HIGHTSTOWN FIRE DEPARTMENT 148 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 223279112 501(C)(b) 15000 FMV FIRE DEPARTMENT SUPPORT BETTER BEGINNINGS CHILD DEVELOPMENT CENTER 318 NORTH MAIN STREET HIGHTSTOWN NJ 08520 221989487 501(c) 2350 FMV TOWN EDUCATIONAL SUPPORT HIGHTSTOWN FIRST AID SQUAD 148 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 222677976 501(c)(3) 10000 FMV FIRST AID SQUAD SUPPORT DOWNTOWN HIGHTSTOWN INC 109 MERCER STREET HIGHTSTOWN NJ 08520 264822789 501(c)(3) 10000 FMV TOWN IMPROVEMENT 1 4 FINANCIAL AID 196 4766100 FMV Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, 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. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 Michael McKitish 210000 0 0 0 1200 0 21000 0 0 0 232200 0 0 0 John Green 252000 0 0 0 2906 0 120200 0 39450 0 414556 0 0 0 Lisa Winick 144600 0 0 0 1200 0 14460 0 0 0 160260 0 0 0 Catherine Rodrigue 115500 0 0 0 0 0 11550 0 34043 0 161093 0 0 0 Thomas Phelan 108600 0 0 0 0 0 10086 0 10681 0 129367 0 0 0 Edward deVillafranca 119600 0 0 0 0 0 11960 0 4263 0 135823 0 0 0 NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY - 2004A 222045817 645912CT1 2004-03-31 13077072 SCIENCE BUILDING 0 0 NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY - 2004B 222045817 645912CS3 2004-03-31 8025000 SCIENCE BUILDING 0 0 NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY - 2008 222045817 645918UJ0 2008-12-19 25601588 RENOVATION TO ATHLETIC CENTER 0 0 13077072 4444260 221412 8411400 2005 0 0 1 1 8025000 165500 7859500 2005 0 0 1 1 25601588 10206845 394743 15000000 2009 1 0 1 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 1 1 1 WELLS FARGO 8.700000000000 0 0 0 The RMJM Hillier Group TRUSTEE 647301 One of the principal officers serves as an architect and is a member of the Board of Trustees. 0 APAX Partners INVESTMENT ADVISOR 171818 One of the parters serves as an investment advisor and is a member of the investment committee 0 Yorktown Partners INVESTMENT MANAGER 148649 One of the managing members serves as an investment manager and is a member of the investment Committee. 0 The PRC Group TRUSTEE 147754 One of the principal officers is a member of the Board of Trustees. 0 X 1 129460 FMV X 7188 FMV X 26 228143 FMV X Musical Instruments 1 1600 FMV 0 1 1 Form 990, Part VI, Section A, line 2 Finn M. W. Caspersen, Trustee, had a family relationship with Emily Caspersen, Trustee. 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 questionnaire 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, listing 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 2c: The review process for the financial statements has not changed from the prior year. TPS MANAGEMENT LLC 201 SOUTH MAIN STREET HIGHTSTOWN NJ 08520 753051210 COMMERCIAL PROPERTY MANAGEMENT NJ -60318 2189544 THE PEDDIE SCHOOL