2024-04-04T22:41:14-05:00 2023-06-30 141918990 TEMPLETON & COMPANY LLP 222 LAKEVIEW AVENUE SUITE 1200 WEST PALM BEACH FL 33401 990 2022-07-01 590873834 PALM BEACH DAY ACADEMY INC PALM 5616551188 241 SEAVIEW AVENUE PALM BEACH FL 33480 MICHAEL J MURPHY CHIEF FINANCE AND OPERATING OFFICER 5616551188 2024-04-04 1 MICHAEL MURPHY 999009999 1 RICHARD JUBACK P00630706 5617989988 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MICHAEL J MURPHY 241 SEAVIEW AVENUE PALM BEACH FL 33480 32341302 0 X WWW.PBDAY.ORG X 1975 FL PRIMARY EDUCATION FOR STUDENTS PRE-K THROUGH THE NINTH GRADE. 15 15 161 50 0 0 23448309 11952256 18090854 19338542 761833 523340 63536 206707 42364532 32020845 2590603 2412176 0 0 10333180 11152200 0 0 491138 5538718 6131430 18462501 19695806 23902031 12325039 59588306 72574153 16643662 16188797 42944644 56385356 THE FOUNDATION OF THE PALM BEACH DAY ACADEMY'S PROGRAM IS THE EDUCATION OF OUR STUDENTS IN AN ACADEMICALLY CHALLENGING AND COMPASSION RICH ENVIRONMENT THAT GUIDES EACH CHILD TOWARD PERSONAL EXCELLENCE OF MIND, BODY AND CHARACTER. 0 0 13505954 2412176 17943413 INSTRUCTION-ACCREDITED CLASSROOM INSTRUCTION FOR APPROX. 577 STUDENTS IN PRE-K THROUGH NINTH GRADE. 489895 147142 STUDENT ACTIVITIES-ATHLETICS, ART, DRAMATICS, LABORATORY, TYPING, CULTURAL EVENTS AND TRIPS FOR APPROX. 577 STUDENTS ENROLLED IN PRE-K THROUGH NINTH GRADE. 410890 1375350 AUXILIARY SERVICES-BUS TRANSPORTATION, TEXTBOOKS, LUNCH & JUICE PROGRAMS PROVIDED TO APPROX. 577 STUDENTS ENROLLED IN PRE-K THROUGH NINTH GRADE. 14406739 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 19 0 161 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X MICHAEL J MURPHY 5616551188 241 SEAVIEW AVENUE PALM BEACH FL 33480 GRANT MASHEK PRESIDENT 5.00 X X 0 0 0 BEN ALEXANDER VICE PRESIDENT 5.00 X X 0 0 0 CHRISTOPHER VECELLIO TREASURER 5.00 X X 0 0 0 JULIANA GENDELMAN SECRETARY 5.00 X X 0 0 0 MARGARET BETTEN BOARD MEMBER 1.00 X 0 0 0 MAURA ZISKA CHRISTU BOARD MEMBER 1.00 X 0 0 0 CAROLINE FORREST BOARD MEMBER 1.00 X 0 0 0 VIRGINIA GALLIGAN BOARD MEMBER 1.00 X 0 0 0 BENJI GRISWOLD BOARD MEMBER 1.00 X 0 0 0 ANDREA KOSOY BOARD MEMBER 1.00 X 0 0 0 CHRISTINA MACFARLAND BOARD MEMBER 1.00 X 0 0 0 BRIAN PFEIFLER BOARD MEMBER 1.00 X 0 0 0 CAROLINE RAFFERTY BOARD MEMBER 1.00 X 0 0 0 TODD SAVAGE BOARD MEMBER 1.00 X 0 0 0 WILL MATTHEWS BOARD MEMBER 1.00 X 0 0 0 MICHAEL J MURPHY CHIEF FINANCE AND OPERATING OFFICER 50.00 X 129543 0 12542 FANNING HEARON HEAD OF SCHOOL 50.00 X 478315 0 54238 MARTHA BJORKLUND HEAD OF LOWER SCHOOL 50.00 X 105013 0 19829 MEGHAN MONTEIRO DIRECTOR OF PHILANTHROPHY 50.00 X 101587 0 15847 814458 0 102456 4 0 1 0 FLORIDA BLUE PO BOX 1798 JACKSONVILLE FL 322310014 HEALTH CARE 991189 BOSTON PRIVATE BANK & TRUST COMPANY 450 BOYLSTON ST BOSTON MA 02116 FINANCIAL SERVICES 904792 SAGE DINING SERVICES INC 1402 YORK RD LUTHERVILLE MD 21093 SCHOOL EVENT SERVICE 865015 REGIONS BANK 6149 CHANCELLOR DR STE 700 ORLANDO FL 32809 FINANCIAL SERVICES 750482 IBIS BUILDING CORPORATION 3600 INVESTMENT LANE 1 WEST PALM BEACH FL 33647 CONSTRUCTION 338878 18 198533 11753723 1238413 11952256 TUITION AND FEES 611110 17821350 17821350 AUXILIARY SERVICES 611110 1370050 1370050 STUDENT ACTIVITIES 611110 147142 147142 19338542 754926 754926 5300 0 5300 5300 5300 231586 -231586 -231586 -231586 168215 198533 88871 79344 79344 OTHER REVENUE 611110 122063 122063 122063 32020845 19465905 0 602684 2412176 2412176 1027205 709950 317255 7707645 5642231 1816425 248989 756486 528859 204434 23193 1042879 876844 148190 17845 617985 464563 135709 17713 30124 30124 95831 95831 41483 41483 350753 194234 156519 68065 68065 903194 200177 647656 55361 139442 49243 80440 9759 801874 93156 708718 16993 8485 5874 2634 412084 329667 74175 8242 1171693 995939 117169 58585 488303 415058 48830 24415 LUNCH PROGRAM 900785 900785 ACADEMIC PROGRAMS 489895 489895 DUES & SUBSCRIPTIONS 103940 11916 74723 17301 PROFESSIONAL DEVELOPMEN 96099 69145 23515 3439 20872 14416 2794 3662 19695806 14406739 4797929 491138 3340702 809002 4010216 10204643 14351929 14857167 17113 67844 1006331 771048 48437776 19473035 25473436 28964741 11357555 16868684 31024 31024 59588306 72574153 1503589 1164739 3015122 3391815 9764352 9415354 2360599 2216889 16643662 16188797 X 40466661 52340007 2477983 4045349 42944644 56385356 59588306 72574153 12325039 1115673 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10148403 13026939 1200117 7321303 17054156 4848830 2600000 -704427 1096000 10148403 4147549 178678 913528 390925 4848830 5022059 893691 61812 1830013 4147549 5899559 547555 183367 1608422 5022059 0.76279 0.00000 0.23721 0 0 6894339 6894339 34478145 14637740 19840405 2337229 1712322 624907 4728063 3122973 1605090 28964741 X 30682859 1115673 -2453659 -1337986 32020845 0 32020845 17242147 0 17242147 41483 2412176 2453659 19695806 PART V, LINE 4: THE ENDOWMENT FUND WAS CREATED TO ENSURE THE FINANCIAL STABILITY OF THE SCHOOL. THE SCHOOLS FUNDS CONSIST OF DONOR-RESTRICTED FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS AN ENDOWMENT. THE FUNDS ARE DESIGNATED BY THE BOARD OF TRUSTEES TO VARIOUS FUNCTIONS BASED UPON DONOR INTENT. PART X, LINE 2: THE SCHOOL HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN THE FINANCIAL STATEMENTS. THE SCHOOL IS REQUIRED TO OPERATE IN CONFORMITY WITH THE PROVISIONS OF THE IRC TO MAINTAIN ITS EXEMPT STATUS. MANAGEMENT ANALYZES TAX POSITIONS IN JURISDICTIONS WHERE IT IS REQUIRED TO FILE INCOME TAX RETURNS. BASED ON ITS EVALUATION, MANAGEMENT DID NOT IDENTIFY ANY TAX POSITIONS FOR WHICH IT IS REASONABLY POSSIBLE THAT THE TOTAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS WILL SIGNIFICANTLY INCREASE OR DECREASE. INTEREST AND PENALTIES ATTRIBUTABLE TO INCOME TAXES, IF ANY, ARE INCLUDED IN OPERATING EXPENSES. NO SUCH INTEREST OR PENALTIES WERE RECORDED FOR THE YEARS 2023 OR 2022. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR FISCAL YEARS PRIOR TO 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS AND TUITION REMISSION -2,412,176. INVESTMENT FEES -41,483. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND TUITION REMISSION 2,412,176. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE PALM BEACH DAY ACADEMY HAS ITS POLICY PRINTED IN THE SCHOOL BROCHURE, WHICH IS SENT WITH THE SCHOOL APPLICATION TO ALL PROSPECTIVE STUDENTS DURING THE REGISTRATION PERIOD. THE ACADEMY ALSO INCLUDES ITS POLICY IN LOCAL ADVERTISEMENTS. GOLF/TENNIS TOURNAMENT 366748 198533 168215 88871 366748 198533 168215 88871 88871 79344 1 SCHOLARSHIPS & TUITION REMISSION 103 2412176 FMV PART I, LINE 2: FINANCIAL AID IS AWARDED BASED ON FINANCIAL NEED. FINANCIAL NEED IS DETERMINED FROM A COMPLETED FINANCIAL AID APPLICATION SUBMITTED BY THE FAMILY REQUESTING AID. THE SCHOOL'S FINANCIAL AID COMMITTEE USES A NATIONALLY RECOGNIZED THIRD-PARTY SERVICE TO HELP TO OBJECTIVELY DETERMINE A FAMILY'S ABILITY TO PAY FOR SCHOOL TUITION AND OTHER EDUCATIONAL EXPENSES, BASED ON A PARENTS' FINANCIAL STATEMENT AND ANY ADDITIONAL SUPPORTING DOCUMENTATION FROM THE FAMILY AS MAY BE NEEDED. TUITION REMISSION IS AWARDED TO EMPLOYEES OF THE SCHOOL, HIRED PRIOR TO NOVEMBER 1, 2017, IN A COMBINATION OF POLICY AND NEED BASIS. X 1 0 X X 0 0 0 0 0 0 0 0 0 FANNING HEARON HEAD OF SCHOOL 361315 0 57000 0 60000 0 45783 0 8455 0 532553 0 0 0 A PALM BEACH COUNTY FLORIDA 000000000 2021-06-01 10331632 REFUNDING SERIES 2013 BONDS 0 0 0 A 10331632 206632 10125000 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 0 0 0 1 A 1 BRUCE GENDELMAN INSURANCE SERVICES 35% CONTROLLED ENTITY OF AN INTERESTED PERSON 201748 PAYMENT OF INSURANCE PREMIUMS AND INSURANCE AGENCY COMMISSIONS. 0 X 5 438486 FAIR MARKET VALUE X 1 799927 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE BOARD HAS AUTHORIZED THE AUDIT COMMITTEE TO REVIEW AND APPROVE THE FORM 990. A COPY OF THE APPROVED FORM 990 IS DISTRIBUTED TO ALL BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS ANNUALLY DISCLOSED BY THE BOARD OF TRUSTEES. THE BOARD REVIEWS THE CONFLICT OF INTEREST POLICY AND MONITORS THE POLICY TO ENSURE COMPLIANCE. FORM 990, PART VI, SECTION B, LINE 15 THE HEAD OF SCHOOLS SALARY IS SET BY THE BOARD OF TRUSTEES UPON RECOMMENDATIONS FROM THE EXECUTIVE COMMITTEE. A THOUGHTFUL PROCESS, INCLUDING PERIODIC COMPARABILITY STUDIES ARE PERFORMED BY THE COMMITTEE. THE BOARD OF TRUSTEES APPROVES THE COMMITTEES RECOMMENDATIONS. THE HEAD OF SCHOOL MAKES A RECOMMENDATION FOR THE SALARY OF THE DIRECTOR OF FINANCE AND OPERATIONS BASED ON COMPARABLE COMPENSATION DATA FOR SIMILARLY QUALIFIED PERSONS AND IS APPROVED IN THE BUDGET BY THE FINANCE COMMITTEE AND BOARD OF TRUSTEES. THIS PROCESS IS COMPLETED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 UPON WRITTEN REQUEST.