2026-05-15T12:44:20-05:00 2025-06-30 WITHUM SMITH BROWN PC 506 CARNEGIE CENTER STE 400 PRINCETON NJ 085406243 990 2024-07-01 210635004 The Pennington School % DANIEL BAVERSTOCK PENN 6097371838 112 W Delaware Ave Pennington NJ 08534 Daniel Baverstock CFOO 6097376120 2026-05-13 true true Thomas Parisi P00013287 6095201188 2026-05-13 2024 2025-03-06 01:10:19Z Daniel Baverstock 112 W Delaware Ave Pennington NJ 08534 47714931 false X WWW.PENNINGTON.ORG X 1838 NJ THE PENNINGTON SCHOOL IS AN INDEPENDENT CO-EDUCATIONAL SCHOOL SERVING DAY AND BOARDING STUDENTS IN GRADES 6-12. WE ARE DEDICATED TO DEVELOPING EXCELLENCE IN ALL STUDENTS. 38 37 316 253 143634 140376 3179073 2803709 31120376 33660579 2760843 4869573 781668 546463 37841960 41880324 8386149 8839041 0 0 18525733 19646484 0 0 1900091 11778211 12602039 38690093 41087564 -848133 792760 95641589 101820507 23016311 26659389 72625278 75161118 X THE PENNINGTON SCHOOL IS AN INDEPENDENT CO-EDUCATIONAL SCHOOL SERVING DAY AND BOARDING STUDENTS IN GRADES 6-12. THE SCHOOL IS DEDICATED TO DEVELOPING INDIVIDUAL EXCELLENCE IN ALL OF ITS STUDENTS. false false 30579301 8839041 33915402 COEDUCATIONAL DAY/BOARDING SCHOOL SERVICING GRADES 6 THROUGH 12. THERE ARE APPROXIMATELY 540 STUDENTS. 30579301 true true false false false false false false false true true false false false true true true false true false true false false false false false false false true true true false false false false false false false false false false true false false false false false false false false true 106 0 true 316 true true true false false false false true true false false false false false false X 38 37 false false false false true true true true true false false true true true true true true true false false X DANIEL BAVERSTOCK 6097376120 112 W DELAWARE AVE PENNINGTON NJ 08534 X William Stevenson Hawkey Head of School 40.0 0.0 X X 544685 0 119819 Charles D Brown Asst Head, Dir of Advancement 40.0 0.0 X 286540 0 34212 Chadwick Bridges Associate Head of School 40.0 0.0 X 157447 0 91567 Sharon Jarboe Director of Admission 40.0 0.0 X 162125 0 33372 Christen E Jones Director of Development 40.0 0.0 X 154266 0 18850 Joannah Prockop Director of the Learning CTR 40.0 0.0 X 137419 0 19102 John C Dwyer CFO (THRU 6/26/2025) 40.0 0.0 X 119004 0 20219 Brenda Rene Cole FORMER CHIEF FINANCIAL OFFICER 0.0 0.0 X 117629 0 8624 A Louis Denton Esq Trustee 2.0 0.0 X 0 0 0 Arti Patel Trustee 2.0 0.0 X 0 0 0 Bishop Cynthia Moore-Koikoi Trustee 2.0 0.0 X 0 0 0 BRENDA MARTINI O'LOUGHLIN Trustee 2.0 0.0 X 0 0 0 CELESTE JACKSON Trustee 2.0 0.0 X 0 0 0 CHANDRA BINKY SANDERS Trustee 2.0 0.0 X 0 0 0 Dan Mahony Trustee 2.0 0.0 X 0 0 0 DAVID J LONG III Trustee 2.0 0.0 X 0 0 0 DENNIS S KEATING Trustee 2.0 0.0 X 0 0 0 ERICH STEGICH Trustee 2.0 0.0 X 0 0 0 GEOFFREY CROMARTY Trustee 2.0 0.0 X 0 0 0 JACK GREEN Trustee 2.0 0.0 X 0 0 0 JACOB LEVY Trustee 2.0 0.0 X 0 0 0 JAE HYEOK HEO Trustee 2.0 0.0 X 0 0 0 JASON RIDINGS Trustee 2.0 0.0 X 0 0 0 JIAN JIM WANG PHD Trustee 2.0 0.0 X 0 0 0 JOHN S BIDDISCOMBE Trustee 2.0 0.0 X 0 0 0 JORDAN M GRAY Trustee 2.0 0.0 X 0 0 0 JUDITH ROSENBERG Trustee 2.0 0.0 X 0 0 0 JULIE WULF Trustee 2.0 0.0 X 0 0 0 Karin Sanderson Trustee 2.0 0.0 X 0 0 0 KATHERINE Q ROSA Trustee 2.0 0.0 X 0 0 0 LISA ESPINOZA MD Trustee 2.0 0.0 X 0 0 0 MATTHEW PAULS Trustee 2.0 0.0 X 0 0 0 MICHAEL D JINGOLI Trustee 2.0 0.0 X 0 0 0 MINSOO KIM Trustee 2.0 0.0 X 0 0 0 PETER J TUCCI ESQ Trustee 2.0 0.0 X 0 0 0 REV DR DAVID C MERTZ Trustee 2.0 0.0 X 0 0 0 REV DR DONALD MEDLEY Trustee 2.0 0.0 X 0 0 0 REV DR VIRGINIA SAMUEL CETUK Trustee 2.0 0.0 X 0 0 0 REV RONELL HOWARD Trustee 2.0 0.0 X 0 0 0 SOOPAKIJ CHRIS CHEARAVANONT Trustee 2.0 0.0 X 0 0 0 STEPHEN TAN Trustee 2.0 0.0 X 0 0 0 STEVEN M SILBERMAN Trustee 2.0 0.0 X 0 0 0 SWATI NAVANI TRUSTEE 2.0 0.0 X 0 0 0 VANDANA BHANOTE TRUSTEE 2.0 0.0 X 0 0 0 WILLIAM OLDSEY TRUSTEE 2.0 0.0 X 0 0 0 1679115 0 345765 22 true true false Culinart Group 6 INTERNATIONAL DR RYE BROOK NY 10573 Dining Services 1645181 DVP Construction Group 4728 118th Pl SE EVERETT WA 98208 Contractor 1152676 FLIK 2200 Atlantic St STAMFORD CT 06902 Dining Services 743874 Turn-Key Technologies Inc 2400 Main Street Extension SAYREVILLE NJ 08872 Network Services 544530 Cleanest Management Services LLC 475 WALL ST PRINCETON NJ 08540 CLEANING SERVICE 487722 11 7290 2796419 53041 2803709 TUITION & FEES 611110 33660579 33660579 33660579 1844402 1844402 0 0 351353 143644 207709 0 207709 143634 64075 8612769 5587598 3025171 3025171 3025171 405 7290 405 0 0 0 0 0 182481 102960 79521 79521 MISC SCHOOL INCOME 900099 254823 254823 YEARBOOK ADVERTISING 541800 4410 4410 259233 41880324 33919812 143634 5013169 2015 2015 8837026 8837026 0 0 880032 597202 229800 53030 0 14682609 9984175 3817478 880956 962473 655701 249252 57520 2006616 1364499 521720 120397 1114754 758033 289836 66885 0 54973 37382 14293 3298 74776 50847 19442 4487 0 0 211277 211277 2578261 2578261 16756 11394 4357 1005 2858792 993557 1546096 319139 153755 104551 39978 9226 0 2518548 1691025 672362 155161 321250 218450 83525 19275 0 110919 75424 28840 6655 318438 318438 0 2737589 1861561 711773 164255 646705 439760 168143 38802 41087564 30579301 8608172 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41880324 32170475 131214 131214 32039261 211277 8837026 9048303 41087564 SCHEDULE D, PART X, LINE 2 INCOME TAX STATUS THE SCHOOL IS A TAX-EXEMPT CORPORATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND UNDER CURRENT NEW JERSEY TAX STATUTES. HOWEVER, INCOME FROM CERTAIN ACTIVITIES THAT IS NOT DIRECTLY RELATED TO THE SCHOOL'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. IN ADDITION, THE SCHOOL QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A) AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(2). THE SCHOOL FILES TAX RETURNS IN THE UNITED STATED FEDERAL JURISDICTION AND COMPLIES WITH STATE FILING REQUIREMENTS. ACCOUNTING FOR UNCERTAIN TAX POSITIONS ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE SCHOOL AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE SCHOOL HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE SCHOOL, AND HAS CONCLUDED THAT AS OF JUNE 30, 2025 AND 2024, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE SCHOOL FILES A TAX RETURN IN THE U.S. FEDERAL JURISDICTION AND HAS NO INCOME TAX RELATED PENALTIES AND INTEREST FOR THE PERIODS PRESENTED IN THESE FINANCIAL STATEMENTS. SHOULD ANY SUCH PENALTIES AND INTEREST BE INCURRED, THE SCHOOL'S POLICY WOULD BE TO RECOGNIZE THEM AS OPERATING EXPENSES. IN THE NORMAL COURSE OF BUSINESS, THE SCHOOL IS SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. AS OF JUNE 30, 2025 AND THROUGH THE DATE OF THIS REPORT, THERE ARE NO ON-GOING EXAMINATIONS OR UNRESOLVED DISPUTES WITH THE VARIOUS TAX AUTHORITIES THAT THE SCHOOL FILES WITH. AS OF JUNE 30, 2025 AND 2024, THE SCHOOL HAD NO UNRECOGNIZED TAX BENEFITS. FURTHER, THERE ARE NO INCOME TAX RELATED PENALTIES AND INTEREST INCLUDED IN THESE FINANCIAL STATEMENTS. SCHEDULE D, PART XI, LINE 2D FINANCIAL AID..................................... 8,837,026 SCHEDULE D, PART XII, LINE 4B FINANCIAL AID..................................... 8,837,026 SCHEDULE D, PART XI, LINE 4B COST OF GOODS SOLD............................... -102,960 UBIT - RECLASS ENTRIES........................... -26,279 SPECIAL EVENT EXPENSES........................... -405 ---------------------------------------------------------------- TOTAL............................................ -129,644 SCHEDULE D, PART XII, LINE 2D COST OF GOODS SOLD............................... 102,960 UBIT - RECLASS ENTRIES........................... 26,279 BAD DEBT EXPENSE................................. 1,570 SPECIAL EVENT EXPENSES........................... 405 ---------------------------------------------------------------- TOTAL............................................ 131,214 true true true true true true true false false false false false false false false false false true PART 1, LINE 3: NONDISCRIMINATORY POLICY NOTICE The Pennington School admits students of any race, religion, color, national and ethnic origin to all the rights, privileges, programs, and activities generally accorded or made available to students at the School. It does not discriminate on the basis of race, color, religion, gender, physical disability, national and ethnic origin, or sexual orientation in the administration of its educational policies, admissions policies, scholarship and financial aid programs, employment policies, and athletic and other School-administered programs. true East Asia and the Pacific 0 0 Fundraising 68905 East Asia and the Pacific 0 0 Program Services admission 14852 South America 0 0 Program Services admission 6647 Europe (Including Iceland and Greenland) 0 0 Program Services admission 5231 0 0 0 0 95635 95635 false false false false false false true FINANCIAL AID 133 7703146 FMV SCHOLARSHIPS/TUITION TUITION REMISSION 23 1133880 FMV FACULTY AID SEE EXPLANATION FOR PART I, LINE 2 THERE WERE 133 RECIPIENTS OF FINANCIAL AID AND 23 RECIPIENTS OF TUITION REMISSION. TUITION REMISSION IS AWARDED FOR ONE STUDENT PER EMPLOYEE AT A TIME. FINANCIAL AID IS AWARDED ON A NEED BASIS USING INDUSTRY STANDARD FINANCIAL DISCLOSURES AND CALCULATIONS. X X true true X X X X false true false false false false false false false William Stevenson Hawkey Head of School 544685 0 0 0 0 0 24150 0 95669 0 664504 0 0 0 Brenda Rene Cole FORMER CHIEF FINANCIAL OFFICER 117629 0 0 0 0 0 8239 0 385 0 126253 0 0 0 Charles D Brown Asst Head, Dir of Advancement 286540 0 0 0 0 0 20185 0 14027 0 320752 0 0 0 Sharon Jarboe Director of Admission 162125 0 0 0 0 0 11752 0 21620 0 195497 0 0 0 Chadwick Bridges Associate Head of School 157447 0 0 0 0 0 11824 0 79743 0 249014 0 0 0 Joannah Prockop Director of the Learning CTR 137419 0 0 0 0 0 9625 0 9477 0 156521 0 0 0 Christen E Jones Director of Development 154266 0 0 0 0 0 11272 0 7578 0 173116 0 0 0 PART I, LINE 1A - HOUSING ALLOWANCE THE FOLLOWING ARE PROVIDED HOUSING AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE SCHOOL. THE FAIR MARKET VALUE INCLUDED ARE NOT INCLUDED IN THEIR TAXABLE WAGES, UNDER SECTION 119 OF THE INTERNAL REVENUE CODE: DR. WILLIAM S. HAWKEY $ 67,600 Chadwick Bridges $ 48,650 PART I, LINE 4B - COMPENSATION QUESTIONS WILLIAM HAWKEY WAS PROVIDED A SUPPLEMENTAL PENSION IN 2024-2025. THE COST WAS $23,000. A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 2024-06-17 7500000 CONSTRUCTION/CAPITAL IMPROVEMENTS false false false B PUBLIC FINANCE AUTHORITY 273866124 2017-03-29 10000000 CONSTRUCTION/CAPITAL IMPROVEMENTS false false false A 0 0 5775000 0 0 0 0 0 0 0 0 0 2015 false false true true B 0 0 9963333 0 0 0 36667 0 0 0 0 0 2018 false false true true A false false false false 0 true false false true B false false false false 0 true true true A false true false false 0 false 0 false true B false true false false 0 false 0 false true A true B true X 4717 cost X 1 20000 cost X 1 15701 FMV X 5 1435 cost X Lab & comp items 1 4000 cost X Oral care 1 2854 cost X Gift & GiftCards 8 1515 cost X Tickets 1 1200 cost X Car wash 1 600 cost X Elect. keyboard 1 519 cost X Gaming set 1 250 cost X Sewing machine 1 250 cost 0 false true false PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT CERTIFIED ACCOUNTANTING FIRM ENGAGED BY THE SCHOOL, UPON WHICH A DRAFT COPY IS SENT AND REVIEWED BY THE FINANCE COMMITTEE FOR APPROVAL TO SEND A FINAL DRAFT COPY TO THE INDIVIDUAL TRUSTEES EITHER BY EMAIL OR AT A BOARD MEETING PRIOR TO FILING. PART VI, SECTION B, LINE 12C THE SCHOOL REQUIRES ALL BOARD OF TRUSTEES, OFFICERS AND KEY EMPLOYEES TO SIGN ANNUAL CONFLICT OF INTEREST STATEMENTS. PART VI, SECTION B, LINE 15A THE HEAD OF SCHOOL HAS BEEN IDENTIFIED AS AN OFFICER. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES MEETS TO DECIDE COMPENSATION. MEMBERS OF THE COMMITTEE ARE INDEPENDENT. A COMMITTEE MEMBER PREPARES COMPARABLE DATA FROM TAX RETURNS (USING GUIDESTAR) AND NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (COLLECTED BY CFO). THIS MATERIAL IS REVIEWED BY THE EXECUTIVE COMMITTEE. THE BOARD OF TRUSTESS RATIFIES COMMITTEE'S FINDINGS. ALL OTHER COMPENSATION IS DETERMINED BY THE HEAD OF SCHOOL. PART VI, SECTION C, LINE 19 THE SCHOOL'S FORM 990 IS AVAILABLE ON WWW.GUIDESTAR.ORG. NO OTHER DOCUMENTS ARE AVAILABLE TO THE PUBLIC. FORM 990, PART VII, SECTION A BRENDA COLE, FORMER CHIEF FINANCIAL OFFICER, HAS "NONE" AS HER AVERAGE WEEKLY HOURS LISTED AS SHE LEFT HER POSITION PRIOR TO THE START OF THE FISCAL TAX YEAR STARTING JULY 1, 2024 AND PER IRS INSTRUCTIONS FOR THIS PART OF THE RETURN, HOURS FOR A FISCAL YEAR FILER ARE REFLECTED BASED ON ACTUAL AVERAGE HOURS WORKED DURING THE FISCAL TAX YEAR. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS FOR THE CURRENT FISCAL YEAR END INCLUDE THE FOLLOWING: BAD DEBT EXPENSE..................................... -1,570