2020-12-10T13:14:16-06:00 2020-06-30 946214841 ARMANINO LLP 12657 ALCOSTA BLVD STE 500 SAN RAMON CA 945834600 990 2019-07-01 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 2020-12-08 1 MATTHEW PETROSKI P00853132 9257902600 2020-12-08 2019 2022-09-23 18:48:47Z NANCY N GREENE 1501 NE 62ND STREET FORT LAUDERDALE FL 33334 101350931 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. 17 17 906 500 0 0 3763957 4870506 89686886 90383669 1060791 3883510 125378 544552 94637012 99682237 8873268 9470072 0 0 50059375 48390980 0 0 2415314 34050976 33881953 92983619 91743005 1653393 7939232 241089084 245801031 120953296 124753817 120135788 121047214 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 72599547 9470072 88196456 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. 1088271 2199172 SUMMER CAMPS OFFER A VARIETY OF WATER SPORTS AND OTHER ATHLETIC ACTIVITIES WITH CRAFTS, FINE ARTS, AND OTHER SUMMER CAMP ACTIVITIES. 73687818 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 0 0 1 0 1 0 0 0 0 1 0 0 0 1 145 0 1 906 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 17 17 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 MICHELE STOCKER CHAIR 1.00 X X 0 0 0 SUZANNE SANDOW VICE CHAIR 1.00 X X 0 0 0 G ALLEN ANDREAS DIRECTOR 1.00 X 0 0 0 BRIAN BERNICK DIRECTOR 1.00 X 0 0 0 SHEILA CARNICELLI DIRECTOR 1.00 X 0 0 0 JAY FOREMAN DIRECTOR 1.00 X 0 0 0 HEATHER GERONEMUS DIRECTOR (THROUGH 1/20) 1.00 X 0 0 0 RONALD HALIGMAN DIRECTOR 1.00 X 0 0 0 HAID HASHEMI DIRECTOR 1.00 X 0 0 0 RAJIV JAIN DIRECTOR (THROUGH 12/19) 1.00 X 0 0 0 BARBARA LANDRY DIRECTOR 1.00 X 0 0 0 GEORGE LEMIEUX 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 BRIAN SCHWARTZ DIRECTOR (THROUGH 6/20) 1.00 X 0 0 0 JAY SCHWEDELSON DIRECTOR 1.00 X 0 0 0 RANDI STANLEY DIRECTOR 1.00 X 0 0 0 DR DANA MARKHAM PRESIDENT 40.00 X 1020358 0 29027 NANCY GREENE VICE PRESIDENT OF FINANCE/OPERATIONS AND CFO 40.00 X 322573 0 30201 MEAGAN OBST CORPORATE SECRETARY 40.00 X 79243 0 5385 DAVID CLARK HEAD OF SCHOOL - BOCA RATON 40.00 X 207932 0 22697 MELANIE CONNORS VICE PRESIDENT OF ADMISSIONS 40.00 X 213249 0 57355 MARCIA HUNT COLLEGE-ACADEMIC ADVISING DIRECTOR 40.00 X 201426 0 24535 JOSEPH MARKHAM EXEC DIR OF SECURITY AND SUPPORT SERVICES 40.00 X 189057 0 47587 SUSAN PEIRCE VICE PRESIDENT OF ADMISSIONS 40.00 X 216386 0 24109 ANITA TYCHSEN VICE PRESIDENT OF ACADEMICS 40.00 X 171331 0 18681 WHITNEY WALTERS-SACHS VICE PRESIDENT, SCHOOL AND LEGAL AFFAIRS 40.00 X 247317 0 55565 JOSEPH WALTERS DIVISION HEAD - UPPER SCHOOL 40.00 X 178981 0 55290 MICHAEL D PRESLO CONTROLLER (THROUGH 2/20) 40.00 X 148112 0 37362 CHRISTINE DARDET VICE PRESIDENT OF MARKETING AND BRANDING 40.00 X 138146 0 37722 JEFFRY JOHNSON ATHLETIC DIRECTOR 40.00 X 143164 0 37759 SHARON MCKITTRICK HUMAN RESOURCES DIRECTOR 40.00 X 139688 0 18966 AMY VARO-HAUB DIVISION HEAD - MIDDLE SCHOOL 40.00 X 137007 0 53289 3753970 0 555530 46 0 1 0 FLIK PO BOX 50196 LOS ANGELES CA 90074 FOOD SERVICES 2084960 KMJ LAWN & LANDSCAPE INC 631 SE 8TH AVENUE POMPANO BEACH FL 33060 LANDSCAPING 1192238 SMART AIR SYSTEMS INC 1731 BANKS ROAD MARGATE FL 33063 CONTRACTOR 908675 RESOURCE 4 FLOORS 3350 BURRIS ROAD FORT LAUDERDALE FL 33314 CAMPUS PAINTING 901769 ACL CLEANING SYSTEMS LLC 3314 NW 69 STREET FORT LAUDERDALE FL 33309 JANITORIAL 855719 19 4870506 264217 4870506 TUITION 611710 87850960 87850960 SUMMER PROGRAMS 713990 2199172 2199172 OTHER PROGRAM SERVICE 611710 333537 333537 90383669 2643145 2643145 17451 0 17451 17451 17451 2905024 4035 1616338 52356 1288686 -48321 1240365 1240365 11959 0 11959 11959 OTHER INCOME 900099 515142 515142 515142 99682237 90395628 0 4416103 9470072 9470072 3363929 311824 2740281 311824 36571320 30858906 4858047 854367 2547951 2121724 356052 70175 3084548 2386733 611791 86024 2823232 2202121 536414 84697 88599 88599 94857 24807 70050 351967 351967 160330 160330 186684 78920 67666 40098 1172641 526272 588375 57994 8395025 7311596 1024025 59404 25640 25640 401068 312390 76613 12065 2056945 2056945 6548495 5464719 1020910 62866 1751429 1751429 OTHER EXPENSES 7071923 5084951 1563139 423833 ACADEMIC EXPENSES 4231370 4133640 97730 MATERIALS AND SUPPLIES 1344980 1342198 2782 91743005 73687818 15639873 2415314 72079 474171 35638901 38997482 1219879 2168151 4293636 6205387 136418 118047 4402603 1765291 199547463 85466866 112257179 114080597 76302625 71546336 4862020 8152342 1903744 2293227 241089084 245801031 5963116 4375807 46043806 47002125 59025982 57816516 9920392 15559369 120953296 124753817 X 85972661 86787718 34163127 34259496 120135788 121047214 241089084 245801031 X 7939232 -1870776 -5157030 X X 0 1 X 1 0 X 5560758 3044582 3164763 3763957 4870506 20404566 5560758 3044582 3164763 3763957 4870506 20404566 335422 20069144 1382486 1462506 2026371 919507 2660596 8451466 730788 515142 1245930 30101962 432934867 0.66670 0.69460 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 0 81960854 188475 975063 2922182 80202210 80137204 138624 4007300 2322274 81960854 66173877 12103209 3580189 1720071 80137204 59532291 4522929 5328012 3209355 66173877 58152182 702078 -872502 406916 57574842 0.60190 0.39810 0.00000 0 0 1693403 1693403 170880838 69267287 101613551 6192960 2206121 3986839 19340666 13993458 5347208 1439596 1439596 114080597 INTEREST RATE SWAP OBLIGATION 14155969 OTHER LIABILITIES 1403400 15559369 X 86104871 -1870776 -5157030 -7027806 93132677 351967 6197593 6549560 99682237 85193445 0 85193445 351967 6197593 6549560 91743005 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, 2020, 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 27,535. CHANGE IN VALUE OF INTEREST SWAP AGREEMENT -4,615,547. LOSS ON EXTINGUISHMENT OF DEBT ON ISSUANCE COSTS -569,018. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 6,197,593. PART XII, LINE 2D - OTHER ADJUSTMENTS: STORE COGS PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 6,197,593. 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 FINANCIAL AID TO STUDENTS 406 6197593 FMV DIRECT CREDIT TO STUDENT ACCOUNT TUITION REMISSION 171 3272479 FMV DIRECT CREDIT TO STUDENT ACCOUNT PART I, LINE 2: THE SCHOOL HAS A FINANCIAL AID DIRECTOR THAT OVERSEES AND MONITORS THE NEED-BASED AWARD PROCESS IN CONJUNCTION WITH A FINANCIAL AID COMMITTEE. X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 DR DANA MARKHAM PRESIDENT 534353 0 297110 0 188895 0 22400 0 6627 0 1049385 0 108645 0 NANCY GREENE VICE PRESIDENT OF FINANCE/OPERATIONS 287323 0 10250 0 25000 0 22400 0 7801 0 352774 0 0 0 DAVID CLARK HEAD OF SCHOOL - BOCA RATON 184482 0 5250 0 18200 0 15702 0 6995 0 230629 0 0 0 MELANIE CONNORS VICE PRESIDENT OF ADMISSIONS 176499 0 7750 0 29000 0 14691 0 42664 0 270604 0 0 0 MARCIA HUNT COLLEGE-ACADEMIC ADVISING DIRECTOR 196176 0 5250 0 0 0 16734 0 7801 0 225961 0 0 0 JOSEPH MARKHAM EXEC DIR OF SECURITY AND SUPPORT SER 172807 0 10250 0 6000 0 14910 0 32677 0 236644 0 0 0 SUSAN PEIRCE VICE PRESIDENT OF ADMISSIONS 216136 0 250 0 0 0 17477 0 6632 0 240495 0 0 0 ANITA TYCHSEN VICE PRESIDENT OF ACADEMICS 166081 0 5250 0 0 0 13891 0 4790 0 190012 0 0 0 WHITNEY WALTERS-SACHS VICE PRESIDENT, SCHOOL AND LEGAL AFF 237067 0 10250 0 0 0 21162 0 34403 0 302882 0 0 0 JOSEPH WALTERS DIVISION HEAD - UPPER SCHOOL 167147 0 10250 0 1584 0 14584 0 40706 0 234271 0 0 0 MICHAEL D PRESLO CONTROLLER (THROUGH 2/20) 147823 0 289 0 0 0 12134 0 25228 0 185474 0 0 0 CHRISTINE DARDET VICE PRESIDENT OF MARKETING AND BRAN 126691 0 11455 0 0 0 11001 0 26721 0 175868 0 0 0 JEFFRY JOHNSON ATHLETIC DIRECTOR 136831 0 6333 0 0 0 12520 0 25239 0 180923 0 0 0 SHARON MCKITTRICK HUMAN RESOURCES DIRECTOR 137438 0 2250 0 0 0 11352 0 7614 0 158654 0 0 0 AMY VARO-HAUB DIVISION HEAD - MIDDLE SCHOOL 113957 0 5250 0 17800 0 10912 0 42377 0 190296 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 $26,845 DAVID CLARK $18,200 AMY VARO-HAUB $17,800 NANCY GREENE $25,000 PART I, LINE 4B PINE CREST PREPARATORY SCHOOL PAID $108,645 TO THE PRESIDENT DURING THE 2019 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 2019. 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. A PALM BEACH COUNTY FLORIDA 596000785 2020-03-18 125000000 EDUCATIONAL FACILITIES REVENUE BOND, SERIES 2020A & 2020B 0 0 0 A 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 JILLIAN CONWAY D IN LAW OF OFFICER, DANA MARKHAM 78269 EMPLOYMENT 0 AMBER CLARK DAUGHER OF KEY EMPLOYEE, DAVID CLARK 49017 EMPLOYMENT 0 KAREN WILSON-WALTERS WIFE OF KEY EMPLOYEE, JOSEPH WALTERS 29948 EMPLOYMENT 0 BARRY CONNORS HUSBAND OF KEY EMPLOYEE, MELANIE CONNORS 74964 EMPLOYMENT 0 X 11 264217 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 27,535. CHANGE IN VALUE OF INTEREST SWAP AGREEMENT -4,615,547. LOSS ON EXTINGUISHMENT OF DEBT ON ISSUANCE COSTS -569,018. 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