2024-05-10T11:49:59-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 150 S WARNER ROAD SUITE 310 KING OF PRUSSIA PA 19406 990 2022-07-01 221493168 THE PINGRY CORPORATION PING 9086475555 131 MARTINSVILLE ROAD BASKING RIDGE NJ 07920 OLAF J WECKESSER CHIEF FINANCIAL & OPERATING OFFICER 9086475555 2024-05-09 1 OLAF WECKESSER 999009999 1 MALLORY GOOD P01704765 2156433900 2024-05-08 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z THE PINGRY SCHOOL OLAF J WECKESSER 131 MARTINSVILLE ROAD BASKING RIDGE NJ 07920 76728887 0 X WWW.PINGRY.ORG X 1861 NJ TO FOSTER A COMMITMENT TO INTELLECTUAL EXPLORATION, INDIVIDUAL GROWTH & SOCIAL RESPONSIBILITY 28 28 531 219 -1110 0 10845076 3696494 55658913 59314600 5737677 689854 1605846 1164375 73847512 64865323 5766948 6280919 0 0 38367301 39421186 0 0 3305340 23541832 26541317 67676081 72243422 6171431 -7378099 235637520 235206749 67832948 69764322 167804572 165442427 X SEE SCHEDULE O.THE MISSION OF THE PINGRY SCHOOL IS TO FOSTER IN STUDENTS A LIFELONG COMMITMENT TO INTELLECTUAL EXPLORATION, INDIVIDUAL GROWTH AND SOCIAL RESPONSIBILITY BY INSPIRING AND SUPPORTING THEM TO STRIVE FOR ACADEMIC AND PERSONAL EXCELLENCE WITHIN AN ETHICAL FRAMEWORK THAT PLACES THE HIGHEST VALUE ON HONOR AND RESPECT FOR OTHERS. 0 0 61756252 6280919 59314600 THE PINGRY SCHOOL IS AN EDUCATIONAL INSTITUTION SERVING GRADES K-12 WITH AN ENROLLMENT OF APPROXIMATELY 1,200 STUDENTS. THE SCHOOL PROVIDES NEED BASED FINANCIAL AID TO QUALIFYING APPLICANTS AND TUITION REMISSION TO CHILDREN OF FACULTY AND STAFF WHO ARE ADMITTED STUDENTS. 61756252 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 156 0 1 531 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 AK HI MD MA MI NH NY OR SC WV X OLAF J WECKESSER 9086475555 131 MARTINSVILLE ROAD BASKING RIDGE NJ 07920 LEAR TIMOTHY P HEAD OF SCHOOL 40.00 X 375859 0 210881 WECKESSER OLAF J CHIEF FINANCIAL & OPERATING OFFICER 40.00 X 341957 0 96004 LEVINSON MATTHEW D FORMER OFFICER (HEAD OF SCHOOL) 0.00 X 364661 0 57261 MCARTHUR CYNTHIA L DIRECTOR OF AUXILIARY PROGRAMS 40.00 X 217094 0 105689 FAHEY DAVID DIR OF INSTITUTIONAL ADVANCEMENT 40.00 X 239363 0 63099 MORRIS THU-NGA T ASSISTANT HEAD OF SCHOOL 40.00 X 243319 0 17984 BUGLIARI MILLER A SPECIAL ASST TO THE HEAD OF SCHOOL 40.00 X 220089 0 35633 PIETTE LAURIE A DIRECTOR OF MIDDLE SCHOOL 40.00 X 213292 0 31966 SHRANK IAN S CHAIR 8.00 X X 0 0 0 HALIVOPOULOS E LORI VICE CHAIR 8.00 X X 0 0 0 PROCTER KATHARINE WYMAN TREASURER 4.00 X X 0 0 0 LEDERMAN STUART M SECRETARY 4.00 X X 0 0 0 GRANT DENISE M ASSISTANT SECRETARY 4.00 X X 0 0 0 BAIRD III WILLIAM D TRUSTEE 2.00 X 0 0 0 BECKMEN JANICE C TRUSTEE 2.00 X 0 0 0 CHEN JIAYI TRUSTEE 2.00 X 0 0 0 ENG KEVIN D TRUSTEE 2.00 X 0 0 0 FITTON LOIS TRUSTEE 2.00 X 0 0 0 GERMAIN LINCOLN TRUSTEE 2.00 X 0 0 0 ITTYCHERIA DEV C TRUSTEE 2.00 X 0 0 0 KALAFER JOSHUA TRUSTEE 2.00 X 0 0 0 KIM ALLEN TRUSTEE 2.00 X 0 0 0 LINK STEPHANIE A TRUSTEE 2.00 X 0 0 0 LIPPER STEVEN M TRUSTEE 2.00 X 0 0 0 MANKIW N GREGORY TRUSTEE 2.00 X 0 0 0 MASON CAROLYN TRUSTEE 2.00 X 0 0 0 MORIARTY MELISSA TRUSTEE 2.00 X 0 0 0 MULLINS JR DONALD C TRUSTEE 2.00 X 0 0 0 NITABACH MICHAEL TRUSTEE 2.00 X 0 0 0 O'TOOLE MARY MARGARET TRUSTEE 2.00 X 0 0 0 OVERDECK LAURA TRUSTEE 2.00 X 0 0 0 PLOTKIN ADAM J TRUSTEE 2.00 X 0 0 0 SANTANA MARGARET TRUSTEE 2.00 X 0 0 0 SCHMIDT KEVIN TRUSTEE 2.00 X 0 0 0 SUBRAMANIAN UMESH TRUSTEE 2.00 X 0 0 0 WILF JONANTHAN Z TRUSTEE 2.00 X 0 0 0 2215634 0 618517 100 1 1 0 SAGE DINING SERVICES 1402 YORK RD LUTHERVILLE MD 21093 STUDENT FOOD SERVICE 2551681 NOC SERVICES CORP 230 SHUNPIKE RD SPRINGFIELD NJ 07081 TECHNOLOGY EQUIPMENT AND SERVICES 969712 KENSINGTON BUS COMPANY INC PO BOX 649 LEBANON NJ 08883 TRANSPORTATION SERVICES 775938 IBS - BUILDING SERVICES CONTRACTORS INC 36-06 43RD AVE LONG ISLAND CITY NY 11101 CLEANING SERVICES 734959 HENDRY CONSTRUCTION SERVICES INC 1160 ROUTE 22 SOUTH SOMERVILLE NJ 08876 CONSTRUCTION SERVICES 690596 26 3696494 57196 3696494 TUITION AND FEES 611110 55108426 55108426 AUXILIARY SERVICES 611110 4172630 4172630 DRAMA TICKET SALES 611110 17169 17169 YEARBOOK 611110 16375 16375 59314600 1247938 -1110 1249048 1455231 584269 870962 870962 870962 10417810 10975894 -558084 -558084 -558084 331813 303401 28412 28412 SOLAR POWER PURCHASE AGREEMENT 900099 112064 112064 TAX REFUND 900099 865 865 152072 152072 265001 64865323 59314600 -1110 1855339 6280919 6280919 1086844 1086844 28915978 24369834 2804365 1741779 2105156 1782493 195612 127051 5159426 4423175 420977 315274 2153782 1768717 258995 126070 272249 272249 145993 145993 225000 225000 7642 7642 1665204 76839 1103964 484401 573288 573288 5087899 4969939 95276 22684 123680 123680 324026 317286 5444 1296 7229752 7079373 121460 28919 1189923 1165172 19991 4760 INSTRUCTIONAL 3946001 3946001 STUDENT FOOD SERVICE 2057717 2057717 STUDENT ATHLETICS 939066 939066 PROFESSIONAL GROWTH 925181 891205 33976 1828696 1115228 418018 295450 72243422 61756252 7181830 3305340 1514356 1824352 8562681 7237412 717896 849931 41081845 42960622 255377 172171 242541 405417 153207064 88805312 67247695 64401752 41745535 40802411 64566678 68948469 9702916 7604212 235637520 235206749 6465323 6384017 48615382 51455593 12752243 11573429 0 351283 67832948 69764322 X 77400166 74657645 90404406 90784782 167804572 165442427 235637520 235206749 X -7378099 4881697 134257 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 103097327 450496 5064410 1917436 1975540 104719257 120552464 5550302 -19334296 1800874 1870269 103097327 88488581 3682641 31795077 1584334 1829501 120552464 96901905 991960 621398 1539044 8487638 88488581 90263484 6509629 3430281 1671702 1629786 96901906 0.15600 0.35220 0.49180 0 0 6793643 6793643 129623007 74581403 55041604 16081279 13704047 2377232 709135 519862 189273 64401752 ALTERNATIVE INVESTMENTS 68948469 F 68948469 LEASE LIABILITIES 351283 351283 X 64245010 4881697 134257 5015954 59229056 225000 5411267 5636267 64865323 66607155 887670 887670 65719485 225000 6298937 6523937 72243422 PART V, LINE 4: THE CORPORATION RECEIVES GIFTS INTENDED TO PRODUCE INCOME IN PERPETUITY FOR THE SCHOOL TO FINANCE FACULTY SUPPORT, FINANCIAL AID, AS WELL AS GENERAL OPERATIONS. THE CORPORATION HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT AND BOARD-DESIGNATED ASSETS THAT ATTEMPT TO 1) PROVIDE A STREAM OF RELATIVELY PREDICTABLE, STABLE AND CONSTANT FUNDING IN SUPPORT OF ANNUAL BUDGETARY NEEDS; AND 2) PRESERVE, IF NOT ENHANCE, THE REAL INFLATION-ADJUSTED PURCHASING POWER OF THE FUND AFTER MANAGMENT EXPENSES AND SPENDING. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE CORPORATION MUST HOLD IN PERPETUITY, FOR DONOR-SPECIFIED PERIODS, AS WELL AS BOARD-DESIGNATED FUNDS. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF TRUSTEES, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER INTENDED TO PRODUCE RESULTS THAT 1) ATTAIN AN AVERAGE ANNUAL NOMINAL TOTAL RETURN (BEFORE INFLATION) THAT IS EQUAL TO OR EXCEEDS ANNUAL SPENDING PLUS FUND MANAGEMENT COSTS OVER ROLLING FIVE-YEAR PERIODS; 2) OUTPERFORM THE FUND'S CUSTOM BENCHMARK; AND 3) BETTER THE MEDIAN RETURN OF A PEER GROUP OF INDEPENDENT SCHOOLS WHILE ASSUMING A MODERATE LEVEL OF INVESTMENT RISK. PART X, LINE 2: THE CORPORATION FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE CORPORATION AND HAS CONCLUDED THAT AS OF JUNE 30, 2023 AND 2022, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE THE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 134,257. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 6,280,919. BAD DEBT EXPENSE NETTED WITH CONTRIBUTIONS ON FINANCIAL STATEMENTS 18,018. RECLASS FACILITY RENTAL DIRECT EXPENSES -584,269. RECLASS COST OF SALES -303,401. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS FACILITY RENTAL DIRECT EXPENSES 584,269. RECLASS COST OF SALES 303,401. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 6,280,919. BAD DEBT EXPENSE NETTED WITH CONTRIBUTIONS ON FINANCIAL STATEMENTS 18,018. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL'S NONDISCRIMINATORY POLICY IS PUBLISHED IN PROMOTIONAL MATERIALS AND ON ITS WEBSITE AT WWW.PINGRY.ORG/ABOUT/DIVERSITY-INCLUSION DURING FY23. DURING FY24, THE SCHOOL MOVED ITS NONDISCRIMINATORY POLICY TO ITS HOMEPAGE. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS N/A 48460976 0 0 0 0 0 0 48460976 0 48460976 1 0 1 1 1 0 PART III ACCOUNTING METHOD: SCHEDULE F, PART IV: LINE 1 - FORM 926 IS BEING FILED AS AN ATTACHMENT TO FORM 990-T. LINE 3 - THE ORGANIZATION'S OWNERSHIP INTEREST DURING THE FISCAL YEAR DOES NOT REQUIRE FILING OF FORM 5471. LINE 4 - THE ORGANIZATION'S ACTIVITY DURING THE FISCAL YEAR DOES NOT REQUIRE FILING OF FORM 8621. LINE 5 - FORM 8865 IS BEING FILED AS AN ATTACHMENT TO FORM 990-T. 1 NEED BASED FINANCIAL AID 219 6280919 0 PART I, LINE 2: ALL ASSISTANCE IS PROVIDED AS A SCHOLARSHIP TO PINGRY, NO FUNDS ARE PROVIDED DIRECTLY TO RECIPIENTS AND THEREFORE PROPER ALLOCATION TO INTENDED PURPOSE IS ENSURED. ALL FINANCIAL ASSISTANCE IS AWARDED IN AN OBJECTIVE AND NONDISCRIMINATORY MANNER. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 1 1 LEAR TIMOTHY P HEAD OF SCHOOL 352732 0 0 0 23127 0 32038 0 178843 0 586740 0 0 0 WECKESSER OLAF J CHIEF FINANCIAL & OPERATING OFFICER 338332 0 0 0 3625 0 21750 0 74254 0 437961 0 0 0 LEVINSON MATTHEW D FORMER OFFICER (HEAD OF SCHOOL) 235238 0 0 0 129423 0 13775 0 43486 0 421922 0 0 0 MCARTHUR CYNTHIA L DIRECTOR OF AUXILIARY PROGRAMS 195083 0 0 0 22011 0 12420 0 93269 0 322783 0 0 0 FAHEY DAVID DIR OF INSTITUTIONAL ADVANCEMENT 229223 0 0 0 10140 0 16830 0 46269 0 302462 0 0 0 MORRIS THU-NGA T ASSISTANT HEAD OF SCHOOL 220607 0 0 0 22712 0 17657 0 327 0 261303 0 0 0 BUGLIARI MILLER A SPECIAL ASST TO THE HEAD OF SCHOOL 220089 0 0 0 0 0 20205 0 15428 0 255722 0 0 0 PIETTE LAURIE A DIRECTOR OF MIDDLE SCHOOL 213292 0 0 0 0 0 20241 0 11725 0 245258 0 0 0 PART I, LINE 1A THE HOUSING IS PROVIDED ON CAMPUS, FURNISHED FOR THE CONVENIENCE OF THE EMPLOYER AND IS A REQUIRED CONDITION OF EMPLOYMENT. AS SUCH, IT IS NOT INCLUDED IN TAXABLE COMPENSATION. FOR TIMOTHY P. LEAR, HEAD OF SCHOOL, AND MATTHEW D. LEVINSON, FORMER HEAD OF SCHOOL, $30,000 EACH IS INCLUDED IN SCHEDULE J, PART II, COLUMN (D). FOR CYNTHIA L. MCARTHUR, DIRECTOR OF AUXILIARY PROGRAMS, $44,400 IS INCLUDED IN SCHEDULE J, PART II, COLUMN (D). PERSONAL FINANCIAL PLANNING SERVICES WITH A VALUE OF $5,202 WAS PROVIDED TO MATTHEW D. LEVINSON, FORMER HEAD OF SCHOOL. THIS AMOUNT IS INCLUDED IN TAXABLE COMPENSATION AND IS INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III). PART I, LINE 8 COMPENSATION FOR TIMOTHY P. LEAR, HEAD OF SCHOOL, IS SUBJECT TO AN INITIAL WRITTEN EMPLOYMENT AGREEMENT FOR THE PERIOD JULY 1, 2022 TO JUNE 30, 2025. A PUBLIC FINANCE AUTHORITY SERIES 2015 A & B 273866124 2015-02-17 20500000 SEE PART VI 0 0 0 A 8865745 20500000 12892074 7607926 2016 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 A 1 PART I, LINE A, COLUMN F & PART II, LINE 14: DESCRIPTION OF PURPOSE: TO FUND CAMPUS IMPROVEMENTS ($12,892,074) AND TO REFUND 11/1/2012 NJEDA BONDS ($7,607,926). PART IV, LINE 2C, COLUMN A: IN THE OPINION OF BOND COUNSEL, ALL GROSS PROCEEDS OF THE BONDS SUBJECT TO THE ARBITRAGE REBATE REQUIREMENT IMPOSED UNDER IRC SECTION 148(F) HAVE BEEN EXPENDED PRIOR TO THE REBATE COMPUTATION DATE AND NO ARBITRAGE REBATE AMOUNT IS DUE. X 9 57196 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE FIGURE IN THIS COLUMN REPRESENTS THE NUMBER OF DONORS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE HAS THE POWER TO ACT FOR THE BOARD OF TRUSTEES AND CONSISTS OF THE OFFICERS OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM WITH INFORMATION PROVIDED BY MANAGEMENT AND THEN A DRAFT VERSION OF THE FORM 990 IS PROVIDED TO MANAGEMENT TO POST ON-LINE FOR TRUSTEE ACCESS. AT THAT POINT TRUSTEES ARE NOTIFIED THAT THE RETURN IS AVAILABLE FOR THEIR REVIEW. MEMBERS OF THE BOARD OF TRUSTEES REVIEW THE DRAFT FORM 990 AND DIRECT COMMENTS AND RECOMMENDATIONS TO MANAGEMENT. ONCE ALL COMMENTS AND RECOMMENDATIONS HAVE BEEN ADDRESSED AND CHANGES HAVE BEEN MADE, THE FORM 990 IS APPROVED BY THE BOARD OF TRUSTEES AND FILED WITH THE IRS. THIS QUESTION IS REQUIRED TO BE ANSWERED NO BASED ON THE IRS INSTRUCTIONS, BECAUSE, ALTHOUGH THE FULL BOARD DOES RECEIVE AND REVIEW A COPY OF THE FORM 990 PRIOR TO THE RETURN BEING FILED, THE SCHEDULE B, SCHEDULE OF CONTRIBUTORS, HAS BEEN REDACTED FROM THE COPY THEY ARE PROVIDED. THIS REDACTION IS THE SCHOOL'S GOOD FAITH EFFORT TO COMPLY AND RESPECT DONOR CONFIDENTIALITY REQUESTS. IF A MEMBER OF THE BOARD WERE TO REQUEST ACCESS TO THE REDACTED INFORMATION, IT WOULD BE PROVIDED TO THEM. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF TRUSTEES, HEAD OF SCHOOL, AND CHIEF FINANCIAL OFFICER DISCLOSE POTENTIAL CONFLICTS OF INTEREST ON AN ANNUAL BASIS. THE POTENTIAL CONFLICTS ARE REPORTED TO THE HEAD OF THE COMMITTEE ON TRUSTEES. THE EXECUTIVE COMMITTEE MAKES FINAL DETERMINATION AS TO WHETHER A CONFLICT EXISTS. WHEN A CONFLICT ARISES, THE INDIVIDUAL WILL NOT VOTE ON THE CONTRACT OR TRANSACTION OR EXERT HIS OR HER PERSONAL INFLUENCE WITH RESPECT TO THE MATTER, EITHER AT OR OUTSIDE OF MEETINGS. FORM 990, PART VI, SECTION B, LINE 15A THE HEAD OF SCHOOL'S COMPENSATION IS DETERMINED ANNUALLY BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES IN CONSULTATION WITH AN INDEPENDENT COMPENSATION CONSULTANT, BASED ON A REVIEW OF THE HEAD OF SCHOOL'S PERFORMANCE AND COMPARABLE BENCHMARKING INFORMATION FROM NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS) AND INDEPENDENT DATA EXCHANGE (INDEX). THE DELIBERATION BY THE COMPENSATION COMMITTEE AND APPROVAL BY THE BOARD IS DOCUMENTED IN EACH COMMITTEE'S MINUTES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 134,257.