2021-05-14T09:22:21-05:00 2020-06-30 141918990 TEMPLETON & COMPANY LLP 222 LAKEVIEW AVENUE SUITE 1200 WEST PALM BEACH FL 33401 990 2019-07-01 590873834 PALM BEACH DAY ACADEMY INC PALM 5616551188 241 SEAVIEW AVENUE PALM BEACH FL 33480 WILLIAM COYLE DIRECTOR OF FINANCE & OPERATIONS 5616551188 2021-05-14 1 RICHARD JUBACK P00630706 5617989988 2019 2022-09-23 18:48:47Z WILLIAM COYLE 241 SEAVIEW AVENUE PALM BEACH FL 33480 14238673 0 X WWW.PBDAY.ORG X 1975 FL PRIMARY EDUCATION FOR STUDENTS PRE-K THROUGH THE NINTH GRADE. 15 15 143 175 0 0 2034186 2077114 11969504 11981433 201969 408369 -11783 7036 14193876 14473952 2882647 2559002 0 0 8445414 7768998 0 0 510847 4142396 4252944 15470457 14580944 -1276581 -106992 36484397 36692318 18331565 20809909 18152832 15882409 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 10312863 2559002 11543259 INSTRUCTION-ACCREDITED CLASSROOM INSTRUCTION FOR APPROX. 402 STUDENTS IN PRE-K THROUGH NINTH GRADE. 101706 62867 STUDENT ACTIVITIES-ATHLETICS, ART, DRAMATICS, LABORATORY, TYPING, CULTURAL EVENTS AND TRIPS FOR APPROX. 402 STUDENTS ENROLLED IN PRE-K THROUGH NINTH GRADE. 485338 382524 AUXILIARY SERVICES-BUS TRANSPORTATION, TEXTBOOKS, LUNCH & JUICE PROGRAMS PROVIDED TO APPROX. 402 STUDENTS ENROLLED IN PRE-K THROUGH NINTH GRADE. 10899907 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 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 0 0 0 0 0 0 0 0 0 1 31 0 143 1 0 0 0 0 0 1 1 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 WILLIAM COYLE 5616551188 241 SEAVIEW AVENUE PALM BEACH FL 33480 X 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 STEPHANIE CARDEN SECRETARY 5.00 X X 0 0 0 GITA COSTA BOARD MEMBER 1.00 X 0 0 0 CAROLINE FORREST BOARD MEMBER 1.00 X 0 0 0 JULIANA GENDELMAN BOARD MEMBER 1.00 X 0 0 0 DAVID GOCHMAN BOARD MEMBER 1.00 X 0 0 0 ANDREA KOSOY BOARD MEMBER 1.00 X 0 0 0 MATT LORENTZEN BOARD MEMBER 1.00 X 0 0 0 WILL MATTHEWS BOARD MEMBER 1.00 X 0 0 0 TIM MULLEN BOARD MEMBER 1.00 X 0 0 0 CAROLINE RAFFERTY BOARD MEMBER 1.00 X 0 0 0 CHUCK SCHUMACHER BOARD MEMBER 1.00 X 0 0 0 MAURA ZISKA BOARD MEMBER 1.00 X 0 0 0 FANNING HEARON HEAD OF SCHOOL (BEGAN JULY 2019) 50.00 X 224583 0 24102 WILLIAM J COYLE DIRECTOR OF FINANCE & OPER 50.00 X 184927 0 28782 SARAH KEMENESS HEAD OF UPPER CAMPUS 50.00 X 104662 0 16349 RICHARD TUMMON DIRECTOR OF COMMUNICATIONS 50.00 X 115564 0 19844 BILLY PEEBLES INTERIM HEAD OF SCHOOL 0.00 X 178626 0 18946 DR EDWIN P GORDON FORMER HEAD OF SCHOOL 0.00 X 143438 0 0 951800 0 108023 6 1 1 0 WELLS FARGO BANK 420 MONTGOMERY STREET SAN FRANCISCO CA 94014 FINANCIAL SERVICES 1247444 FLORIDA BLUE PO BOX 1798 JACKSONVILLE FL 322310014 HEALTH CARE 841925 APPLE INC PO BOX 281877 ATLANTA GA 303841877 TECHNOLOGY 278403 FLORIDA POWER AND LIGHT 700 UNIVERSE BLVD JUNO BEACH FL 33408 UTILITIES 219254 IBIS BUILDING CORPORATION 3600 INVESTMENT LN 101 WEST PALM BEACH FL 33407 CONSTRUCTION 176900 5 276194 1800920 2077114 TUITION AND FEES 611110 11536042 11536042 AUXILIARY SERVICES 611110 382524 382524 STUDENT ACTIVITIES 611110 62867 62867 11981433 172909 172909 -235460 235460 235460 235460 0 276194 181 -181 -181 MISCELLANEOUS 611110 7217 7217 7217 14473952 11988650 0 408188 2559002 2559002 659967 446258 213709 5374812 4090909 1101737 182166 524650 394451 114362 15837 772189 580560 168320 23309 437380 328839 95339 13202 17429 17429 62871 62871 36876 36876 33644 33644 164353 96457 67896 172649 172649 1015701 417703 597998 6251 6251 261719 222461 26172 13086 1006093 855179 100609 50305 394447 335280 39445 19722 OTHER EXPENSE 522058 168272 160566 193220 BOND SWAP PAYMENT 332927 332927 AUXILIARY SERVICES 130181 130181 STUDENT ACTIVITIES 101706 101706 -5961 -5961 14580944 10899907 3170190 510847 999267 1989743 466431 215639 8224 7487 746969 734524 42930094 16225182 26984595 26704912 7247887 7008989 31024 31024 36484397 36692318 1223764 1158314 1916011 1936439 10252971 11547074 250000 250000 4688819 5918082 18331565 20809909 X 16482513 14976442 1670319 905967 18152832 15882409 36484397 36692318 X -106992 -260389 -1903042 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5022059 893691 61812 1830013 4147549 5899559 547555 183367 1608422 5022059 8498155 1296825 293611 4189032 5899559 9082028 1343351 405449 2332673 8498155 5349813 5412078 -48192 1631671 9082028 0.78000 0.00000 0.22000 0 0 6334339 6334339 31631537 11929977 19701560 1923050 1431624 491426 3041168 2863581 177587 26704912 MARKET VALUES OF CASH FLOW HEDGE 5918082 5918082 X 9714641 -260389 -1903042 -2163431 11878072 36878 2559002 2595880 14473952 11985064 0 11985064 36878 2559002 2595880 14580944 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 2020 OR 2019. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR FISCAL YEARS PRIOR TO 2017. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES UNREALIZED CASH FLOW HEDGE LOSS -1,903,042. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND TUITION REMISSION 2,559,002. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS AND TUITION REMISSION 2,559,002. 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. MISSION POSSIBLE 276194 276194 181 276194 276194 181 181 -181 1 SCHOLARSHIPS & TUITION REMISSION 126 2559002 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 (BEGAN JULY 2019) 189583 0 0 0 35000 0 18958 0 5144 0 248685 0 0 0 WILLIAM J COYLE DIRECTOR OF FINANCE & OPER 184927 0 0 0 0 0 18493 0 10289 0 213709 0 0 0 BILLY PEEBLES INTERIM HEAD OF SCHOOL 174459 0 0 0 4167 0 17446 0 1500 0 197572 0 0 0 DR EDWIN P GORDON FORMER HEAD OF SCHOOL 143438 0 0 0 0 0 0 0 0 0 143438 0 0 0 A PALM BEACH COUNTY FLORIDA 009747486 2013-04-01 12000000 TO REPAY CERTAIN LONG-TERM DEBT AND CAPITAL LEASE OBLIGATIONS. 0 0 0 A 0 0 0 0 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 A 0 0 BRUCE GENDELMAN INSURANCE SERVICES 35% CONTROLLED ENTITY OF AN INTERESTED PERSON 37835 INSURANCE AGENCY COMMISSIONS 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. FORM 990, PART XI, LINE 9: UNREALIZED CASH FLOW HEDGE LOSS -1,903,042.