2021-10-22T15:35:49-05:00 2021-06-30 946214841 ARMANINO LLP 12657 ALCOSTA BLVD STE 500 SAN RAMON CA 945834600 990 2020-07-01 590861374 PINE CREST PREPARATORY SCHOOL INC PINE 9544924100 1501 NE 62ND STREET FORT LAUDERDALE FL 33334 NANCY N GREENE CFO/VP OF FINANCE AND OPERATIONS 9544924100 2021-10-21 1 NANCY GREENE 999009999 MATTHEW PETROSKI P00853132 9257902600 2021-10-21 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z NANCY N GREENE 1501 NE 62ND STREET FORT LAUDERDALE FL 33334 110270371 0 X WWW.PINECREST.EDU X 1989 FL (SEE SCHEDULE O) TO OFFER A CHALLENGING ACADEMIC EXPERIENCE COMPLEMENTED BY EXCELLENCE IN THE ARTS AND ATHLETICS; TO DEVELOP THE CHARACTER, INDEPENDENCE, AND LEADERSHIP OF EACH STUDENT; AND TO PROVIDE A COLLABORATIVE LEARNING COMMUNITY THAT PREPARES STUDENTS TO MEET THE GLOBAL CHALLENGES OF OUR FUTURE. 23 23 730 36 0 0 4870506 12171091 90383669 90887076 3883510 3631673 544552 752483 99682237 107442323 9470072 10163634 0 0 48390980 47818982 0 0 1877961 33881953 31041255 91743005 89023871 7939232 18418452 245801031 324574141 124753817 162397842 121047214 162176299 X (SEE SCHEDULE O)TO OFFER A CHALLENGING ACADEMIC EXPERIENCE COMPLEMENTED BY EXCELLENCE IN THE ARTS AND ATHLETICS; TO DEVELOP THE CHARACTER, INDEPENDENCE, AND LEADERSHIP OF EACH STUDENT; AND TO PROVIDE A COLLABORATIVE LEARNING COMMUNITY THAT PREPARES STUDENTS TO MEET THE GLOBAL CHALLENGES OF OUR FUTURE. 0 0 73501598 10163634 90255065 PINE CREST OFFERS A COLLEGE PREPARATORY ACADEMIC CURRICULUM ALONG WITH RELATED ACTIVITIES FOR GRADES PRE-K - 12TH AT FORT LAUDERDALE CAMPUS AND PRE-K - 8TH AT BOCA RATON CAMPUS WITH APPROXIMATELY 2,600 STUDENTS. 161299 632011 SUMMER CAMPS OFFER A VARIETY OF WATER SPORTS AND OTHER ATHLETIC ACTIVITIES WITH CRAFTS, FINE ARTS, AND OTHER SUMMER CAMP ACTIVITIES. 73662897 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 1 0 0 0 1 164 0 1 730 1 0 0 0 0 0 1 1 0 0 0 0 1 0 X 23 23 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 FL X X NANCY N GREENE 9544924100 1501 NE 62ND STREET FORT LAUDERDALE FL 33334 DR DANA MARKHAM PRESIDENT 40.00 X 1035445 0 29005 NANCY GREENE VICE PRESIDENT OF FINANCE/OPERATIONS 40.00 X 327751 0 24725 WHITNEY WALTERS-SACHS VICE PRESIDENT, SCHOOL AND LEGAL AFF 40.00 X 253669 0 54647 MELANIE CONNORS VICE PRESIDENT OF ADMISSIONS 40.00 X 226094 0 55511 JOSEPH MARKHAM EXEC DIR OF SECURITY AND SUPPORT SER 40.00 X 197329 0 43019 SUSAN PEIRCE VICE PRESIDENT OF ADMISSIONS 40.00 X 220782 0 19105 JOSEPH WALTERS DIVISION HEAD - UPPER SCHOOL 40.00 X 181076 0 54589 DAVID CLARK HEAD OF SCHOOL - BOCA RATON 40.00 X 207381 0 23947 MARCIA HUNT COLLEGE-ACADEMIC ADVISING DIRECTOR 40.00 X 199537 0 19591 AMY VARO-HAUB DIVISION HEAD - MIDDLE SCHOOL 40.00 X 156498 0 51841 JEFFRY JOHNSON ATHLETIC DIRECTOR 40.00 X 163615 0 34492 ANITA TYCHSEN VICE PRESIDENT OF ACADEMICS 40.00 X 169415 0 14829 ALISA KARTEN ASSOCIATE VP OF ADVANCEMENT 40.00 X 155436 0 17364 MEAGAN OBST CORPORATE SECRETARY 40.00 X 64956 0 44178 MICHELE STOCKER CHAIR 1.00 X 0 0 0 SUZANNE SANDOW VICE CHAIR 1.00 X 0 0 0 G ALLEN ANDREAS DIRECTOR (THROUGH 05/21) 1.00 X 0 0 0 BRIAN BERNICK DIRECTOR 1.00 X 0 0 0 SHEILA CARNICELLI DIRECTOR 1.00 X 0 0 0 ARCHANA CHAWLA DIRECTOR 1.00 X 0 0 0 HEATHER EDWARDS DIRECTOR 1.00 X 0 0 0 KEVIN FERRO DIRECTOR 1.00 X 0 0 0 JAY FOREMAN DIRECTOR (THROUGH 05/21) 1.00 X 0 0 0 JON HAGE DIRECTOR 1.00 X 0 0 0 RONALD HALIGMAN DIRECTOR 1.00 X 0 0 0 HAMID HASHEMI DIRECTOR 1.00 X 0 0 0 TIM INGHAM DIRECTOR 1.00 X 0 0 0 DAVID KANTOR DIRECTOR 1.00 X 0 0 0 DAVID KIRSCHNER DIRECTOR (THROUGH 05/21) 1.00 X 0 0 0 BARBARA LANDRY DIRECTOR 1.00 X 0 0 0 GEORGE LEMIEUX DIRECTOR 1.00 X 0 0 0 ASHLEY LINDSAY DIRECTOR 1.00 X 0 0 0 XIAOYI MA DIRECTOR 1.00 X 0 0 0 MARK MALIS DIRECTOR 1.00 X 0 0 0 EVAN PACKER DIRECTOR 1.00 X 0 0 0 TODD ROSENBERG DIRECTOR 1.00 X 0 0 0 MATT ROSENTHAL DIRECTOR 1.00 X 0 0 0 RICHARD SASSO DIRECTOR 1.00 X 0 0 0 JAY SCHWEDELSON DIRECTOR 1.00 X 0 0 0 RANDI STANLEY DIRECTOR 1.00 X 0 0 0 3558984 0 486843 45 0 1 0 FLIK PO BOX 50196 LOS ANGELES CA 90074 FOOD SERVICES 3711579 EZ FACTORING LLC 701 BRICKELL AVENUE MIAMI FL 33131 JANITORIAL 1519900 SMART AIR SYSTEMS INC 1731 BANKS ROAD MARGATE FL 33063 CONTRACTOR 1254699 CSR HEAVY CONSTRUCTION INC 90 SOUTHEAST THIRD COURT DEERFIELD BEACH FL 33441 CONSTRUCTION SERVICES 1135958 KMJ LAWN & LANDSCAPE INC 631 SE 8TH AVENUE POMPANO BEACH FL 33060 LANDSCAPING 983896 20 12171091 408672 12171091 TUITION 611710 90246570 90246570 SUMMER PROGRAMS 713990 632011 632011 OTHER PROGRAM SERVICE 611710 8495 8495 90887076 2911662 2911662 3534772 13287 2828048 0 706724 13287 720011 720011 OTHER INCOME 900099 752483 752483 752483 107442323 90887076 0 4384156 10163634 10163634 3032485 353327 2325831 353327 36294137 30536129 4769601 988407 2626485 2155145 399754 71586 3145603 2488408 564103 93092 2720272 2121812 516852 81608 123943 123943 103139 414 102725 390454 390454 97937 97937 76141 2229 73912 162117 92512 49645 19960 2066375 914904 1093792 57679 7530374 6582821 893908 53645 163892 163892 145327 125836 16117 3374 1745345 1745345 7198393 6007059 1122229 69105 2089107 1743360 325692 20055 FOOD SERVICE 4027723 4027723 ACADEMIC EXPENSES 3342297 3342297 SECURITY 1132245 940617 182775 8853 MEMBERSHIPS & SUBSCRIPT 102480 1035 101445 543966 154398 332298 57270 89023871 73662897 13483013 1877961 474171 991014 38997482 55741840 2168151 43757655 6205387 8919743 118047 377577 1765291 2584241 205442504 92664723 114080597 112777781 71546336 84879094 8152342 11671268 2293227 2873928 245801031 324574141 4375807 6195872 47002125 89874797 57816516 56591919 15559369 9735254 124753817 162397842 X 86787718 111833647 34259496 50342652 121047214 162176299 245801031 324574141 X 18418452 16876026 5834607 X X 0 1 X 1 0 X 3044582 3164763 3763957 4870506 12171091 27014899 3044582 3164763 3763957 4870506 12171091 27014899 3464011 23550888 1462506 2026371 919507 2660596 2911662 9980642 515142 752483 1267625 38263166 441844336 0.61550 0.66670 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 0 80202210 324674 19763124 3144318 97145690 81960854 188475 975063 2922182 80202210 80137204 138624 4007300 2322274 81960854 66173877 12103209 3580189 1720071 80137204 59532291 4522929 5328012 3209355 66173877 0.59840 0.40160 0 0 1693403 1693403 174317592 74635085 99682507 6192960 2601227 3591733 21566882 15428411 6138471 1671667 1671667 112777781 INTEREST RATE SWAP OBLIGATION 8081050 OTHER LIABILITIES 1654204 9735254 X 122994010 16876026 5834607 22710633 100283377 390454 6768492 7158946 107442323 81864925 0 81864925 390454 6768492 7158946 89023871 PART III, LINE 4: THE SCHOOL MAINTAINS PAINTINGS AND A SHELL COLLECTION. DISPLAY OF THESE DONATED COLLECTIONS ENHANCES STUDENT LEARNING AND ART APPRECIATION WHILE PRESERVING THEM FOR FUTURE GENERATIONS OF STUDENTS. PART V, LINE 4: THE SCHOOL'S ENDOWMENT CONSISTS OF OVER 100 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS UNRESTRICTED ENDOWMENT. EACH FUND WAS ESTABLISHED TO SUPPORT AN ESSENTIAL EDUCATIONAL FUNCTION OF THE SCHOOL. PART X, LINE 2: THE SCHOOL IS A QUALIFIED ORGANIZATION EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE SCHOOL HAS EVALUATED ITS CURRENT TAX POSITIONS AND HAS CONCLUDED THAT AS OF JUNE 30, 2021, THE SCHOOL DOES NOT HAVE ANY SIGNIFICANT UNCERTAIN TAX POSITIONS FOR WHICH A RESERVE WOULD BE NECESSARY. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF INTEREST TRUST AGREEMENT 83,779. CHANGE IN VALUE OF INTEREST SWAP AGREEMENT 6,618,989. LOSS ON UNCOLLECTIBLE CONTRIBUTIONS RECEIVABLE -868,161. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 6,768,492. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 6,768,492. 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 SCHOOL MAKES ITS RACIALLY NONDISCRIMINATORY POLICY AVAILABLE TO THE PUBLIC VIA ITS WEBSITE, VARIOUS NEWSPAPERS AND CATALOGS. 1 0 0 FINANCIAL AID TO STUDENTS 363 6768492 FMV DIRECT CREDIT TO STUDENT ACCOUNT TUITION REMISSION 165 3395142 FMV DIRECT CREDIT TO STUDENT ACCOUNT PART I, LINE 2: THE SCHOOL HAS A FINANCIAL AID COMMITTEE THAT OVERSEES AND MONITORS THE NEED-BASED AWARD PROCESS IN CONJUNCTION WITH AN OUTSOURCED PROFESSIONAL EVALUATOR. X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 DR DANA MARKHAM PRESIDENT 545825 0 249454 0 240166 0 21855 0 7150 0 1064450 0 119886 0 NANCY GREENE VICE PRESIDENT OF FINANCE/OPERATIONS 292501 0 10250 0 25000 0 16048 0 8677 0 352476 0 0 0 WHITNEY WALTERS-SACHS VICE PRESIDENT, SCHOOL AND LEGAL AFF 241622 0 10250 0 1797 0 13709 0 40938 0 308316 0 0 0 MELANIE CONNORS VICE PRESIDENT OF ADMISSIONS 189344 0 7750 0 29000 0 10267 0 45244 0 281605 0 0 0 JOSEPH MARKHAM EXEC DIR OF SECURITY AND SUPPORT SER 182808 0 10250 0 4271 0 9634 0 33385 0 240348 0 0 0 SUSAN PEIRCE VICE PRESIDENT OF ADMISSIONS 220532 0 250 0 0 0 11767 0 7338 0 239887 0 0 0 JOSEPH WALTERS DIVISION HEAD - UPPER SCHOOL 169389 0 10250 0 1437 0 9280 0 45309 0 235665 0 0 0 DAVID CLARK HEAD OF SCHOOL - BOCA RATON 183931 0 5250 0 18200 0 10572 0 13375 0 231328 0 0 0 MARCIA HUNT COLLEGE-ACADEMIC ADVISING DIRECTOR 199287 0 250 0 0 0 10997 0 8594 0 219128 0 0 0 AMY VARO-HAUB DIVISION HEAD - MIDDLE SCHOOL 118448 0 20250 0 17800 0 6939 0 44902 0 208339 0 0 0 JEFFRY JOHNSON ATHLETIC DIRECTOR 147492 0 16123 0 0 0 8427 0 26065 0 198107 0 0 0 ANITA TYCHSEN VICE PRESIDENT OF ACADEMICS 169165 0 250 0 0 0 9083 0 5746 0 184244 0 0 0 ALISA KARTEN ASSOCIATE VP OF ADVANCEMENT 155186 0 250 0 0 0 9616 0 7748 0 172800 0 0 0 PART I, LINE 1A JOSEPH MARKHAM AND JEFFRY JOHNSON RECEIVED NONTAXABLE HOUSING BENEFITS OF $26,050 AND $18,250 RESPECTIVELY FOR ON-CAMPUS HOUSING WHERE THEY ARE REQUIRED TO LIVE AS A CONDITION OF THEIR EMPLOYMENT FOR THE CONVENIENCE OF THE SCHOOL. THESE AMOUNTS ARE INCLUDED IN NONTAXABLE BENEFITS SHOWN ON PART II, COLUMN (D). THE FOLLOWING EMPLOYEES RECEIVED TAXABLE HOUSING FRINGE BENEFITS, WHICH ARE INCLUDED IN THEIR REPORTABLE COMPENSATION SHOWN ON PART II, COLUMN (B)(III): MELANIE CONNORS $29,000 DAVID CLARK $18,200 AMY VARO-HAUB $17,800 NANCY GREENE $25,000 PART I, LINE 4B PINE CREST PREPARATORY SCHOOL PAID $119,886 TO THE PRESIDENT DURING THE 2020 CALENDAR YEAR FROM THE 457(F) DEFERRED COMPENSATION PLAN THAT WAS PREVIOUSLY REPORTED ON A PRIOR FORM 990. THERE WERE NO ACCRUALS TO THE 457(F) PLAN DURING 2020. PART I, LINE 7 THE EMPLOYEE WILL BE MEASURED AGAINST THE STANDARDS AND GOALS SET FORTH BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, AS MAY BE AMENDED FROM TIME TO TIME BY THE COMPENSATION COMMITTEE. THE COMPENSATION COMMITTEE WILL ADVISE THE EMPLOYEE OF THE APPLICABLE DATES AND PROCESS FOR THE EMPLOYEE TO PROVIDE INPUT REGARDING EMPLOYEE'S PERFORMANCE TOWARD MEETING THE STANDARDS AND GOALS SET FORTH. CERTAIN INDIVIDUALS RECEIVE INCENTIVE COMPENSATION BASED ON THE ACHIEVEMENT OF THE GOALS OUTLINED BY THE SUPERVISOR, UP TO A CERTAIN AMOUNT, WHICH IS OUTLINED IN THEIR CONTRACT. A PALM BEACH COUNTY FLORIDA 596000785 2020-03-18 125000000 EDUCATIONAL FACILITIES REVENUE BOND, SERIES 2020A & 2020B 0 0 0 A 437231 59250000 1144754 58105246 1 0 0 1 A 0 0 0 0 0 0 1 A 0 0 0 1 1 1 SYNOVUS BANK 0 0 0 0 1 A 0 21325 FINANCIAL AID FINANCIAL AID JILLIAN CONWAY DAUGHTER IN LAW OF OFFICER, DANA MARKHAM 71588 EMPLOYMENT 0 AMBER CLARK DAUGHTER OF KEY EMPLOYEE, DAVID CLARK 38025 EMPLOYMENT 0 KAREN WILSON-WALTERS WIFE OF KEY EMPLOYEE, JOSEPH WALTERS 32560 EMPLOYMENT 0 BARRY CONNORS HUSBAND OF KEY EMPLOYEE, MELANIE CONNORS 79430 EMPLOYMENT 0 KAREN WILSON-WALTERS SISTER IN LAW OF KEY EMPLOYEE, WHITNEY WALTERS-SACHS 32560 EMPLOYMENT 0 LYNN SASSO WIFE OF TRUSTEE, RICHARD SASSO 20250 EMPLOYMENT 0 X 8 386974 FMV X 3 10499 FMV X PRINTER 1 5999 FMV X PIANO, BABY GRAND 0 4900 FMV X MUSICAL EQUIPMENT 1 300 FMV 0 0 1 0 PART I, COLUMN (B): THIS NUMBER REPRESENTS THE NUMBER OF CONTRIBUTIONS MADE, NOT THE NUMBER OF ITEMS CONTRIBUTED. FORM 990, PART VI, SECTION A, LINE 2 KEY EMPLOYEE JOSEPH MARKHAM IS RELATED TO BOARD OFFICER, DANA MARKHAM KEY EMPLOYEE JOSEPH WALTERS IS RELATED TO KEY EMPLOYEE, WHITNEY WALTERS-SACHS FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCCOUNTANT AND REVIEWED BY THE CONTROLLER, CFO, AND BOARD OF TRUSTEES. THE RETURN IS PROVIDED TO THE BOARD FOR REVIEW BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS ENFORCED THROUGH THE USE OF ANNUAL DISCLOSURES AND REVIEW AS DETERMINED BY THE GOVERNING BODY. THE POLICY APPLIES TO TRUSTEES, CORPORATE OFFICERS, THE HEADS OF SCHOOL, SENIOR MANAGEMENT, AND BOARD COMMITTEE MEMBERS. THOSE COVERED UNDER THE CONFLICT OF INTEREST POLICY ARE REQUIRED TO DISCLOSE, IN WRITING, ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST AS SOON AS THEY BECOME AWARE OF IT. THIS PERSON DOES NOT PARTICIPATE IN DISCUSSIONS WHERE THE DETERMINATION OF A CONFLICT IS DISCUSSED AND VOTED UPON. THE REMAINING TRUSTEES DETERMINE WHETHER A CONFLICT EXISTS. THE BOARD CHAIR MAY APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES, IF APPROPRIATE, TO THE PROPOSED CONFLICT TRANSACTION. ONCE DUE DILIGENCE HAS BEEN EXERCISED, THE BOARD WILL USE REASONABLE EFFORTS TO OBTAIN A SIMILAR OR MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF NO REASONABLE ALTERNATIVE EXISTS, THE BOARD MAY APPROVE THE CONFLICT TRANSACTION IF IT IS IN THE BEST INTERESTS OF THE SCHOOL. ALL CONFLICT OF INTEREST DISCUSSIONS MUST BE REFLECTED IN THE MEETING MINUTES WHERE THEY WERE DISCUSSED. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD'S COMPENSATION COMMITTEE DETERMINES THE COMPENSATION OF THE PRESIDENT, OFFICERS AND KEY EMPLOYEES USING DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILAR ORGANIZATIONS. THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO THE DELIBERATIONS AND DECISIONS REGARDING COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE FURNISHED TO THE PUBLIC UPON REQUEST AT THE MAIN ADMINISTRATION OFFICE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST TRUST AGREEMENT 83,779. CHANGE IN VALUE OF INTEREST SWAP AGREEMENT 6,618,989. LOSS ON UNCOLLECTIBLE CONTRIBUTIONS RECEIVABLE -868,161. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. CHARITABLE REMAINDER ANNUITY TRUST(3) INVESTMENT FL N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0