2021-05-12T13:26:50-05:00 2020-06-30 620713250 KRAFTCPAS PLLC 555 GREAT CIRCLE ROAD NASHVILLE TN 37228 990 2019-07-01 620401875 THE WEBB SCHOOL WEBB 9313899322 PO BOX 488 BELL BUCKLE TN 37020 JIM CALLIS ASSOCIATE HEAD OF SCHOOL 9313899322 2021-05-12 1 KEN YOUNGSTEAD P00320901 6152427351 2021-05-12 2019 2022-09-23 18:48:47Z JIM CALLIS PO BOX 488 BELL BUCKLE TN 37020 21187094 0 X WWW.THEWEBBSCHOOL.COM X 1921 TN THE OLDEST CONTINUOUSLY OPERATING BOARDING SCHOOL IN THE SOUTH, EDUCATING GRADES 6-12. 22 22 167 30 -17140 0 1662408 2336998 9475805 10007864 1802586 4589238 185777 115980 13126576 17050080 2100793 2441819 0 0 5661863 6362096 0 0 833815 4642782 3923949 12405438 12727864 721138 4322216 56629409 58148661 9654837 10270704 46974572 47877957 TO TURN OUT YOUNG PEOPLE WHO ARE TIRELESS WORKERS, AND WHO KNOW HOW TO WORK EFFECTIVELY; WHO ARE ACCURATE SCHOLARS; WHO KNOW THE FINER POINTS OF MORALS AND PRACTICE THEM IN THEIR DAILY LIVING; WHO ARE ALWAYS COURTEOUS. 0 0 8204260 2441819 13640688 THE WEBB SCHOOL HAS A 150-YEAR HISTORY OF EXCELLENCE IN SHAPING THE MINDS AND CHARACTERS OF STUDENTS IN GRADES 6-12. OUR SMALL PRIVATE BOARDING SCHOOL COMMUNITY IS COMPRISED OF 331 DAY AND BOARDING STUDENTS FROM 15 COUNTRIES AND 12 STATES. WE EMPHASIZE INDEPENDENT THINKING, CREATIVE INITIATIVE, PERSONAL INTEGRITY, AND CIVIC RESPONSIBILITY. A CHALLENGING ACADEMIC CURRICULUM INCLUDES WEBB'S SIGNATURE EMERGING VOICES PROGRAM, WHICH TEACHES STUDENTS THE VALUE OF PUBLIC SPEAKING AND WRITING. WEBB'S EXTENSIVE OUTDOOR PROGRAM, COMPETITIVE ATHLETIC TEAMS, AND TRAVEL ABROAD OPPORTUNITIES, ALSO HELP PREPARE GRADUATES FOR COLLEGE AND FOR LIFE. WEBB AWARDS ABOUT $2 MILLION IN FINANCIAL AID AND SCHOLARSHIPS TO DESERVING STUDENTS THANKS TO THE GENEROUS SUPPORT OF ALUMNI, FAMILY AND FRIENDS OF THE SCHOOL. 8204260 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 42 0 1 167 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X X JIM CALLIS 9313899322 319 HWY 82 BELL BUCKLE TN 370200488 RAY BROADHEAD HEADMASTER 50.00 X 273751 0 41152 JOE IORIO CFO/ASST HEADMASTER (END 2/15/20) 45.00 X 167025 0 32728 JIM CALLIS START 612020 ASSOCIATE HEAD OF SCHOOL 45.00 X 0 0 0 VANCE BERRY CHAIR 2.00 X X 0 0 0 DREW CARRINGTON VICE CHAIR 1.00 X X 0 0 0 EFFIE JOHNSON TRUSTEE 0.50 X 0 0 0 BRIAN SINGER TRUSTEE 0.50 X 0 0 0 WILSON SIMS JR TRUSTEE 0.50 X 0 0 0 GEORGE PINE TRUSTEE 0.50 X 0 0 0 MATTHIAS BRICKELL MURFREE TRUSTEE 0.50 X 0 0 0 MARY MOSS TRUSTEE 0.50 X 0 0 0 JOSEPH MOONEY TRUSTEE 0.50 X 0 0 0 PAT MEADOWS TRUSTEE 0.50 X 0 0 0 SAM LASSETER TRUSTEE 0.50 X 0 0 0 FARRAR SCHAEFFER VAUGHAN TRUSTEE 0.50 X 0 0 0 PAUL GREGORY JENNINGS TRUSTEE 0.50 X 0 0 0 CHASE SPURLOCK TRUSTEE 0.50 X 0 0 0 SCOTT CRICHTON TRUSTEE 0.50 X 0 0 0 TOM COOPER TRUSTEE 0.50 X 0 0 0 DAVID BROWN TRUSTEE 0.50 X 0 0 0 BEN BLAKELEY TRUSTEE 0.50 X 0 0 0 ED BARKER TRUSTEE 0.50 X 0 0 0 IRVIN ASHFORD TRUSTEE 0.50 X 0 0 0 STEPHEN GRAHAM TRUSTEE 0.50 X 0 0 0 GEORGE HUDDLESTON JR TRUSTEE 0.50 X 0 0 0 440776 0 73880 2 0 1 0 SAGE DINING SERVICES 1402 YORK ROAD LUTHERVILLE MD 21093 FOOD SERVICE 543155 1 38275 2298723 185797 2336998 TUITION AND FEES 611110 9714322 9714322 PARENT ASSOCIATION INCOME 611710 273147 273147 AUXILIARY ENTERPRISES AND ACTIVIT 900099 20395 20395 10007864 1039516 1039516 25233 42373 -17140 -17140 -17140 7619661 1101 4071040 0 3548621 1101 3549722 3549722 73619 38275 23601 50018 50018 MISCELLANEOUS INCOME 611600 83102 83102 83102 17050080 13640688 -17140 1089534 2441819 2441819 591327 96205 398917 96205 4473095 2733116 1425073 314906 217539 118351 84760 14428 744803 346640 343963 54200 335332 190144 117854 27334 33786 33786 49337 49337 145831 145831 99100 53923 29202 15975 81830 81830 141539 48458 81728 11353 41396 30686 10710 416968 233258 180579 3131 56108 3478 42961 9669 1374 569 142 663 98345 73810 21125 3410 921612 676065 213593 31954 129405 129405 MISCELLANEOUS 335260 70367 188257 76636 REPAIRS AND MAINTENANCE 263462 214740 0 48722 PARENT ASSOCIATION EXPE 256407 256407 FOOD 247717 198991 24363 24363 604472 417233 86373 100866 12727864 8204260 3689789 833815 251304 528665 1627826 1402272 869314 1019036 5286156 5063323 49062 61644 97746 99623 30411456 16725035 14075689 13686421 17268253 18877428 16766048 17051293 338011 358956 56629409 58148661 447327 442163 6243756 5802657 2811600 2694800 1000000 152154 331084 9654837 10270704 X 18708523 17762680 28266049 30115277 46974572 47877957 56629409 58148661 X 4322216 -3397301 -21530 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 34034301 1549240 1060658 700000 37344199 32616217 576542 2241542 1400000 34034301 29805817 294154 3869989 1350000 3743 32616217 26412369 368136 4392392 1336120 30960 29805817 27740635 192344 -200936 73640 1246034 26412369 0.60000 0.40000 1 0 106884 106884 24446956 13857550 10589406 2559025 2386666 172359 3298591 480819 2817772 13686421 LAND 38335 F OTHER BELOW $25,000 10058 F COLLECTIVE INVESTMENT TRUST FUND 2565110 F LIMITED PARTNERSHIPS 6507016 F PRIVATE EQUITY 5143492 F REAL ESTATE ASSETS 1822948 F INTERNATIONAL BOND FUND 964334 F 17051293 AGENCY FUNDS 194361 INTEREST RATE SWAP CONTRACT 98553 DEFERRED COMPENSATION 38170 331084 X 11109573 -3397301 44444 -3352857 14462430 145831 2441819 2587650 17050080 10206188 42373 42373 10163815 145831 2418218 2564049 12727864 PART V, LINE 4: THE SCHOOL'S ENDOWMENT FUND IS USED TO HELP SUPPORT THE OPERATIONS OF THE SCHOOL. IT IS SUBJECT TO A POLICY WHEREBY THE ANNUAL WITHDRAWAL FROM THE FUND IS CAPPED AT 4.75%. PART X, LINE 2: MANAGEMENT PERFORMS AN EVALUATION OF ALL INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE SCHOOL'S INCOME TAX RETURN TO DETERMINE WHETHER THE INCOME TAX POSITIONS MEET A "MORE LIKELY THAN NOT" STANDARD OF BEING SUSTAINED UNDER EXAMINATION BY THE APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS PERFORMED ITS EVALUATION OF ALL INCOME TAX POSITIONS TAKEN ON ALL OPEN INCOME TAX RETURNS AND HAS DETERMINED THAT THERE WERE NO POSITIONS TAKEN THAT DO NOT MEET THE "MORE LIKELY THAN NOT" STANDARD. ACCORDINGLY, THERE WERE NO PROVISIONS FOR INCOME TAXES, PENALTIES, OR INTEREST RECEIVABLE OR PAYABLE RELATING TO UNCERTAIN INCOME TAX POSITIONS IN THE ACCOMPANYING FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS ON INTEREST RATE SWAP -42,475. UNREALIZED GAIN ON SPLIT INTEREST AGREEMENT 20,945. UNRELATED BUSINESS INCOME - RENTAL EXPENSES 42,373. FUNDRAISING EXPENSES 23,601. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,441,819. PART XII, LINE 2D - OTHER ADJUSTMENTS: UNRELATED BUSINESS INCOME - RENTAL EXPENSES 42,373. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,441,819. FUNDRAISING EXPENSES -23,601. 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 PUBLISHES THE NONDISCRIMINATION POLICY IN THE LOCAL NEWSPAPER IN THE FALL EACH YEAR AND IN THE SCHOOL PUBLICATIONS AND THE POLICY IS ALSO POSTED ON THE SCHOOL'S WEBSITE CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 6507016 0 0 0 0 0 0 6507016 0 6507016 0 0 0 0 0 0 PART III ACCOUNTING METHOD: PART IV: THE US TRANSFEROR IS A TAX-EXEMPT ENTITY AND THE INCOME WAS NOT UNRELATED BUSINESS INCOME. BELLS AND BUCKLES 89508 38275 51233 8093 6976 625 23601 BELL BUCKLE CRAFT FAIR 22386 22386 111894 38275 73619 8093 6976 625 23601 39295 34324 1 FINANCIAL AID 199 2441819 FMV STUDENT FINANCIAL AID PART I, LINE 2: THE SCHOOL USES A THIRD PARTY SCHOOL STUDENT SERVICES (SSS) TO DETERMINE FINANCIAL NEED. PARENTS MUST GO SSS'S WEBSITE TO APPLY ONLINE. SSS STARTS PROCESSING APPLICATIONS IN OCTOBER FOR THE FOLLOWING SCHOOL YEAR. APPLICATIONS FOR FINANCIAL AID MUST BE FILED BY FEBRUARY FOR THE NEXT SCHOOL YEAR. THE SCHOOL REQUIRES APPLICANTS TO SUBMIT THE FAMILY'S MOST RECENT TAX FORMS, W-2 FORMS, AND ANY ADDITIONAL DOCUMENTS THAT ARE FILED WITH THEIR TAX RETURN. AFTER AN EVALUATION OF ALL SUMBITTED INFORMATION, THE SCHOOL MAY REQUEST ADDITIONAL INFORMATION. THE SCHOOL DETERMINES FINANCIAL AID AWARDS BASED UPON THE PARENT'S FINANCIAL STATEMENT, WHICH IS VERIFIED AGAINST THEIR TAX RETURN. ONCE A CHILD HAS BEEN ACCEPTED, THE PARENT'S FINANCIAL STATEMENT IS REVIEWED BY THE FINANCIAL AID COMMITTEE. THE COMMITTEE WILL ALSO CONSIDER THE POTENTIAL FOR INCOME TO BE EARNED BY A NON-WORKING PARENT. THE DECISION FOR AN AWARD IS BASED ON THE AFFORDABILITY DETERMINED BY THE PARENT'S FINANCIAL STATEMENT AND THE FUNDS AVAILABLE IN THE SCHOOL'S BUDGET. FINANCIAL AID AWARDED IS ENTERED AS A CREDIT INTO THE STUDENT'S ACCOUNT. NO FURTHER MONITORING OF THE FUNDS IS REQUIRED AFTER THIS POINT. X X 0 1 X X X X 0 1 0 0 0 0 0 1 0 RAY BROADHEAD HEADMASTER 249751 0 24000 0 0 0 19395 0 21757 0 314903 0 0 0 JOE IORIO CFO/ASST HEADMASTER (END 2/15/20) 167025 0 0 0 0 0 25000 0 7728 0 199753 0 0 0 PART I, LINE 1A: WEBB SCHOOL PROVIDES A RESIDENCE ON CAMPUS FOR ITS HEADMASTER. IT IS A CONDITION OF EMPLOYMENT SINCE WEBB IS A BOARDING SCHOOL. IT IS DEEMED NECESSARY FOR THE HEADMASTER TO REMAIN ON CAMPUS TO HELP OVERSEE STUDENT ACTIVITIES. MR. BROADHEAD ENTERTAINS STUDENTS, FACULTY, PARENTS, TRUSTEES AND ALUMNI AT THE HOUSE. THE SCHOOL PROVIDES A DISCRETIONARY SPENDING ACCOUNT FOR THE HEADMASTER. DURING THE CURRENT YEAR $8,611 WAS SPENT FROM THIS ACCOUNT. PART I, LINE 1B: AS EXPLAINED ABOVE THE USE OF A RESIDENCE ON CAMPUS BY THE HEADMASTER IS REQUIRED AS A CONDITION OF EMPLOYMENT. THIS ARRANGEMENT IS APPROVED BY THE BOARD OF DIRECTORS. PART I, LINE 3: THE PERSONNEL COMMITTEE OF THE BOARD MEETS PERIODICALLY AND WHEN COMPENSATION ADJUSTMENTS ARE MADE TO THE HEADMASTER SALARY THEY REVIEW COMPARABLE PUBLISHED DATA THAT IS AVAILABLE TO ASSIST THEM IN MAKING COMPENSATION ADJUSTMENTS. PART I, LINE 7: THE HEADMASTER RECEIVED A DISCRETIONARY BONUS APPROVED BY THE BOARD OF DIRECTORS. A INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF SHELBYVILLE TENNESSEE 521393194 2012-10-15 5000000 REFINANCE EXISTING DEBT AND CONSTRUCT NEW SCHOOL CLASSROOMS AND DORMS 0 1 0 A 1220125 3914925 26385 3067540 821000 2016 1 0 0 1 A 0 0 0 0 0 0 0 A 0 1 1 0 1 1 SUNTRUST BANK 10.000000000000 0 0 0 0 0 A 0 163410 TUITION REMISSION EMPLOYEE BENEFITS X 12 166683 SUBSEQUENT SELLING PRICE X AUCTION SALE ITEMS 10 17275 AUCTION SELLING PRIC X BOSE SYSTEM 1 1000 SELLING PRICE X CANDLES 1 610 SELLING PRICE X COFFEE TABLE 1 229 SELLING PRICE 0 0 0 PART I, COLUMN (B): PART I, COLUMN (B) IS THE NUMBER OF ITEMS CONTRIBUTED WHERE SHARES OF STOCK FROM ONE CONTRIBUTOR IS LABELED AS ONE CONTRIBUTION. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE PUBLIC DISCLOSURE VERSION OF FORM 990 WAS EMAILED TO THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD CHAIR, BUSINESS MANAGER, AND HEADMASTER WORK CLOSELY ENOUGH THROUGHOUT THE YEAR TO MONITOR ACTIVITIES OF BOARD MEMBERS TO ENSURE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL REVIEWS NAIS DATA AND FORM 990S OF OTHER SIMILAR SCHOOLS WHEN IT DETERMINES COMPENSATION FOR KEY EMPLOYEES AND TOP SCHOOL OFFICIALS WHICH IS APPROVED BY THE EXECUTIVE COMMITTEE OF THE GOVERNING BOARD. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE GENERAL PUBLIC. FORM 990, PART XI, LINE 9: UNREALIZED GAIN/LOSS ON INTEREST RATE SWAP -42,475. UNREALIZED GAIN/LOSS ON SPLIT INTEREST AGREEMENT 20,945. FORM 990, PART XII, LINE 2C THE OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS AND THE SELECTION PROCESS OF AN INDEPENDENT ACCOUNTANT THAT AUDITED THE FINANCIAL STATEMENTS HAS NOT CHANGED FROM THE PRIOR YEAR.