2025-04-14T08:00:49-05:00 2024-06-30 WITHUMSMITHBROWN PC 1835 MARKET STREET SUITE 1710 PHILADELPHIA PA 191032945 990 2023-07-01 231370500 Episcopal Academy % LAWRENCE CAPUZZI EPIS 4844241420 1785 Bishop white Drive Newtown Square PA 19073 LAWRENCE CAPUZZI CHIEF FINANCIAL OFFICER 4844241420 2025-04-15 true true ADAM WATSON P01367206 2155462140 2023 2025-03-06 01:10:19Z DR THOMAS J LOCKE 1785 Bishop white Drive Newtown Square PA 19073 78947439 false X www.episcopalacademy.org X 1785 PA A CO-EDUCATIONAL INDEPENDENT DAY SCHOOL FOR GRADES PRE-K THROUGH TWELVE. 26 26 556 150 0 0 20039728 12460366 47090875 49284833 3612017 12732037 -48868 276262 70693752 74753498 8986092 9779333 0 0 32897859 35100747 0 0 3178550 15665015 15984739 57548966 60864819 13144786 13888679 302553987 319607013 23626650 24299719 278927337 295307294 X CHALLENGING AND NURTURING MIND, BODY, AND SPIRIT, WE INSPIRE BOYS AND GIRLS TO LEAD LIVES OF PURPOSE, FAITH, AND INTEGRITY. false false 44707670 9779333 49453045 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 1,282 STUDENTS. THE SCHOOL PARTICIPATES IN COMMUNITY SERVICE WORK THAT EXEMPLIFIES THE SCHOOL'S MISSION. THE EPISCOPAL ACADEMY GREATLY VALUES DIVERSITY OF ALL KINDS, INCLUDING RACIAL AND ECONOMIC. TO HELP ACHIEVE THIS DIVERSITY, APPROXIMATELY $9.2 MILLION OF NEED-BASED FINANCIAL AID IS GRANTED TO FAMILIES EACH YEAR IN ORDER TO MAKE IT POSSIBLE FOR CHILDREN YEAR IN ORDER TO MAKE IT POSSIBLE FOR CHILDREN TO ATTEND THE SCHOOL. APPROXIMATELY 23% OF THE STUDENT POPULATION IS AWARDED FINANCIAL AID. ON AVERAGE, THIS AWARD IS APPROXIMATELY 86% OF THE AVERAGE TUITION 44707670 true true false false false false false false false true true false false false true true true false true false true true false false true false false false true true true false false false false false false false false true false true false false false false false false false false true 28 0 true 556 true false false false false false true true false false false false false false X 26 26 false false false false false false false true true false true true true true true true true true true true false X LAWRENCE CAPUZZI 4844241420 1785 BISHOP WHITE DRIVE NEWTOWN SQUARE PA 19073 DR THOMAS J LOCKE HEAD OF SCHOOL 40.0 0.0 X 663878 0 297573 lawrence capuzzi chief financial officer 40.0 0.0 X 319233 0 40656 christopher torino assistant head of school 40.0 0.0 X 307424 0 28964 jennifer fifer director of institutional adva 40.0 0.0 X 265911 0 30598 mark notaro chief operating officer 40.0 0.0 X 201275 0 61575 terrence malone head of lower school 40.0 0.0 X 209305 0 27485 michael letts head of upper school 40.0 0.0 X 205102 0 24817 elizabeth A Corrigan Chair 3.0 0.0 X X 0 0 0 Robert R Corrato Vice Chair 3.0 0.0 X X 0 0 0 ann t Semmer vice Chair 3.0 0.0 X X 0 0 0 j Richard Leaman III treasurer 3.0 0.0 X X 0 0 0 amachie Ackah secretary 3.0 0.0 X X 0 0 0 sandra baldino trustee 3.0 0.0 X 0 0 0 Alexa R Buckley trustee 3.0 0.0 X 0 0 0 John S Buckley Jr Trustee 3.0 0.0 X 0 0 0 Warren I Claytor Trustee 3.0 0.0 X 0 0 0 david r Dugery Trustee 3.0 0.0 X 0 0 0 danielle Gureghian Trustee 3.0 0.0 X 0 0 0 rev canon daniel gp gutierrez Trustee 3.0 0.0 X 0 0 0 noushin heidary Trustee 3.0 0.0 X 0 0 0 joanne f hopkins Trustee 3.0 0.0 X 0 0 0 William L Lo Trustee 3.0 0.0 X 0 0 0 christopher k mchugh Trustee 3.0 0.0 X 0 0 0 robert s mcmenamin Trustee 3.0 0.0 X 0 0 0 adam j murray Trustee 3.0 0.0 X 0 0 0 ryan l newman Trustee 3.0 0.0 X 0 0 0 david j reape Trustee 3.0 0.0 X 0 0 0 karin a risi Trustee 3.0 0.0 X 0 0 0 laura m rooklin trustee 3.0 0.0 X 0 0 0 calvin w schmidt trustee 3.0 0.0 X 0 0 0 julieann g shanahan trustee 3.0 0.0 X 0 0 0 mohammed a toure trustee 3.0 0.0 X 0 0 0 robert c wright jr trustee 3.0 0.0 X 0 0 0 2172128 0 511668 100 false true false SAGE Dining Services Inc 1402 York Road Lutherville MD 21093 dining services 2117414 southampton window cleaning 726 pennsylvania avenue southampton PA 18966 janitorial servICES 1077585 Nick Falcone Sons Inc 8 Crozerville Road ASTON PA 19014 Excavation Services 461891 EMC2 Landscaping PO Box 130 HEBRON IL 60034 Landscaping 436889 ProSport Construction Inc PO Box 629 DEVON PA 19333 CONSTRUCTION SERVICE 386500 22 434114 259695 11766557 496357 12460366 tuition 611110 47252450 47252450 deposit/applications 611110 33941 33941 auxiliary athletic programs 611110 1990709 1990709 tuition management income 611110 7733 7733 49284833 3444582 3444582 0 0 141281 141281 0 141281 11041334 14150 1768029 9273305 14150 9287455 129560 434114 152768 -23208 0 0 0 2263121 2273144 -10023 MISCELLANEOUS REVENUE 611110 168212 168212 168212 74753498 49453045 0 3444582 0 9717379 9717379 61954 61954 0 1384077 947539 350310 86228 0 27666577 18940539 7002411 1723627 1647293 1127737 416930 102626 2238150 1532237 566476 139437 2164650 1481919 547873 134858 0 106353 72809 26918 6626 25428 17408 6436 1584 0 0 65420 65420 1453171 994841 367798 90532 136128 93193 34454 8481 1318920 902933 333819 82168 1056410 723218 267377 65815 0 2020787 1383431 511461 125895 1287996 881762 325992 80242 0 0 236203 161705 59783 14715 0 5170957 3540037 1308769 322151 330523 226276 83655 20592 ATHLETICS 614510 420694 155532 38284 instructional 412875 282654 104499 25722 ADVANCEMENT 302301 206955 76512 18834 student services 228316 156305 57787 14224 1218441 834145 308387 75909 60864819 44707670 12978599 3178550 20686 1592 20302411 15785011 14046317 7857347 327160 380090 0 0 0 0 0 0 61611 92732 5915337 2244253 235208870 82425230 151443976 152783640 99887427 129117490 9900000 10700000 0 0 649062 644858 0 0 302553987 319607013 3895036 4582102 0 0 11549298 12397518 7833115 7067095 0 0 0 0 0 0 0 0 349201 253004 23626650 24299719 X 219796674 232322973 59130663 62984321 278927337 295307294 302553987 319607013 13888679 2491278 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 109560932 19098144 14570256 3859306 139370026 96472122 6398051 9857657 2455539 665316 46043 109560932 101712362 11185196 -12989705 2237397 1133299 65035 96472122 78514854 6474221 19836127 1478048 1578572 56220 101712362 75509056 2995972 3124486 1192010 1866065 56585 78514854 0.65220 0.34780 false false 31192214 31192214 160778113 52248573 108529540 26262352 14141568 12120784 16976191 16035089 941102 152783640 0 DISCOUNT FOR FUTURE INTERESTS 189472 OTHER LIABILITIES 63532 253004 X 68944119 2491278 2273144 4764422 64179697 65420 10508381 10573801 74753498 52564162 2273144 2273144 50291018 65420 10508381 10573801 60864819 PART V, LINE 4: IT IS THE POLICY OF THE SCHOOL TO DRAW 4.00% FOR THE YEARS ENDING JUNE 30, 2024 AND 2023, OF THE TWELVE QUARTER TRAILING AVERAGE OF THE ENDOWMENT'S MARKET VALUE. THE AMOUNT DISTRIBUTED IS USED TO FUND THE SCHOOL, UP TO BUT NOT LIMITED TO STAFF SALARIES, INFORMATION TECHNOLOGY, STAFF DEVELOPMENT, OPERATIONS AND MAINTENANCE, ATHLETICS, FINANCIAL AID AND SCHOLARSHIPS, AND ADMINISTRATIVE EXPENSES. PART X, LINE 2: The School is a non-profit organization which has been determined by the Internal Revenue Service to be exempt from federal income taxes under section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for income taxes has been made in the accompanying financial statements. 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 believes there are no uncertainties which would require any recognition of tax benefits or tax liabilities for the years ended June 30, 2024 and 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 2,273,144 PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 9,779,333 CAMPAIGN EXPENSES 163,977 OTHER NON-OPPERATING EXPENSES 14,416 EVENTS 550,655 PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 2,273,144 PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 9,779,333 CAMPAIGN EXPENSES 163,977 OTHER NON-OPPERATING EXPENSES 14,416 EVENTS 550,655 true true true true true true true false false false false false false false false true false true LINE 3- EXPLANATION OF NONDISCRIMINATION POLICY: 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." LINE 6 - EXPLANATION OF GOVERNMENT FINANCIAL AID: THE SCHOOL RECEIVES FUNDING FOR SUPPLIES FROM THE STATE OF PENNSYLVANIA. Central America and the Caribbean Program Services To support the 61954 61954 61954 Central America and the Caribbean Organized and financ 61954 wire transfe fmv false false false false false false PART I, LINE 2: THE SCHOOL ONLY DISSEMINATES FUNDS AFTER RECEIVING AND APPROVING ALL RECEIPTS AND INVOICES FOR EXPENSES UNDERTAKEN BY THE RECIPIENT ORGANIZATION. PART I, LINE 3, COLUMN (E): REGION: CENTRAL AMERICA AND THE CARIBBEAN (E) SPECIFIC TYPES OF SERVICES IN REGION: TO SUPPORT THE OPERATIONS OF A SCHOOL WHOSE MISSION IS TO EDUCATE STUDENTS TO LIVE PURPOSEFULLY AND WITH FAITH AND INTEGRITY. STARFEST 249354 204899 44455 3715 5991 24545 18510 16001 HORIZONS 214299 202579 11720 21600 2196 6 100021 26636 73385 5190 55019 563674 434114 129560 3715 5991 46145 23700 73216 152767 -23207 true financial aid 307 9717379 Part I Description of Procedure for Monitoring Use of Funds THE EPISCOPAL ACADEMY PROVIDES FINANCIAL AID TO FAMILIES WHO QUALIFY BASED ON AN ASSESSMENT BY THE SCHOOL AND STUDENT SERVICES BY CLARITY. 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 X true true X X X false false false false false false false false false DR THOMAS J LOCKE HEAD OF SCHOOL 663878 0 0 0 0 0 131232 0 166341 0 961451 0 0 0 lawrence capuzzi chief financial officer 319233 0 0 0 0 0 23090 0 17566 0 359889 0 0 0 jennifer fifer director of institutional adva 265911 0 0 0 0 0 17799 0 12799 0 296509 0 0 0 christopher torino assistant head of school 307424 0 0 0 0 0 18554 0 10410 0 336388 0 0 0 terrence malone head of lower school 209305 0 0 0 0 0 15438 0 12047 0 236790 0 0 0 mark notaro chief operating officer 201275 0 0 0 0 0 14825 0 46750 0 262850 0 0 0 michael letts head of upper school 205102 0 0 0 0 0 14447 0 10370 0 229919 0 0 0 PART I, LINE 1A HEAD OF SCHOOL DR. THOMAS J. LOCKE HAS A RESIDENCE IN WHICH HE LIVES ON CAMPUS. THE HOUSING ALLOWANCE IS NOT INCLUDED IN HIS TAXABLE COMPENSATION SINCE IT IS EXCLUDED UNDER INTERNAL REVENUE CODE SECTION 119. THE SCHOOL PROVIDES CLEANING AND MAINTENANCE SERVICES FOR THE HOUSE AND ITS ENVIRONS AS THE RESIDENCE IS REGULARLY USED FOR SCHOOL-RELATED EVENTS. THE SCHOOL ALSO SUPPORTS HEAD OF SCHOOL DR. THOMAS J. LOCKE'S DEVELOPMENT ACTIVITY BY PROVIDING MEMBERSHIPS TO VARIOUS LOCAL CLUBS AND ORGANIZATIONS AT WHICH VARIOUS SCHOOL-RELATED FUNCTIONS SUCH AS MEETINGS AND ALUMNI EVENTS ARE HELD. THE ABOVE-MENTIONED BENEFITS ARE NOT INCLUDED IN THE HEAD OF SCHOOL'S TAXABLE COMPENSATION. A DELAWARE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 231997311 2012-12-07 10500000 REPAYMENT OF PRIOR BONDS USED false false false A 3432905 0 10500000 0 0 0 0 0 0 10500000 0 0 true false true true A false false false false 0 false false false false A false true false false false false 0 false 0 false false A SCHEDULE K, PART I, BOND ISSUES: (A) ISSUER NAME: DELAWARE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (F) DESCRIPTION OF PURPOSE: REPAYMENT OF PRIOR BONDS USED FOR FINANCING COSTS OF CONSTRUCTION PROJECT SARA CAPUZZI SPOUSE OF CFO 131950 LITERACY COACH false SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: SARA CAPUZZI (D) DESCRIPTION OF TRANSACTION: LITERACY COACH X 26 496357 FMV false true true SCHEDULE M, LINE 32B: vanguard receives all stock gifts and the school sells them immediately. the school obtains a high/low price for the transaction date for which the average price per share is recorded as a contribution. FORM 990, PART VI, SECTION B, LINE 11B: THE SCHOOL COMPILES ALL NECESSARY SCHEDULES AND INFORMATION FOR THE TAX PREPARER TO UPLOAD INTO THE RETURN. ONCE PREPARED BY THE TAX PREPARER, A DRAFT COPY OF THE 990 IS CIRCULATED AMONGST THE AUDIT COMMITTEE AND THE BOARD OF TRUSTEE FOR THEIR APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C: MEMBERS OF THE GOVERNING BOARD SUBMIT A RELATED PARTY AND CONFLICT OF INTEREST QUESTIONNAIRE ANNUALLY. THE BOARD LIAISON, AN EMPLOYEE WITH THE SCHOOL, 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 PARTIES WHO MAY EXERT INFLUENCE OVER THE SCHOOL, SUCH AS COMMITTEE MEMBERS WHO MAY NOT OTHERWISE SIT ON THE BOARD, MAY ALSO BE ASKED TO SIGN AN ANNUAL QUESTIONNAIRE. FAMILY AND BUSINESS RELATIONSHIPS ARE EXPRESSLY MENTIONED IN THE CONFLICT-OF INTEREST QUESTIONNAIRE FORM. FORM 990, PART VI, SECTION B, LINE 15: THE BOARD CHAIR IN CONSULTATION WITH OTHER BOARD MEMBERS IS RESPONSIBLE FOR SETTING AND DETERMINING THE COMPENSATION OF THE HEAD OF SCHOOL. NATIONAL PEER SCHOOL DATA (INDEX) AND LOCAL INDEPENDENT SCHOOL DATA IS GATHERED IN ORDER TO MAKE COMPARISONS TO ENSURE EXECUTIVE COMPENSATION IS WITHIN FAIR MARKET VALUE IN THE INDUSTRY. FORM 990, PART VI, SECTION C, LINE 19: THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.