2019-07-22T07:23:03-05:00 2018-06-30 KPMG LLP 1676 International Drive Ste 1200 McLean VA 22102 990 2017-07-01 221607926 RUTGERS PREPARATORY SCHOOL % ROBERT APGAR RUTG 7325455600 1345 EASTON AVENUE SOMERSET NJ 088731499 GERALD TAMBURRO TREASURER 7325455600 2019-07-12 RAYMOND LY P01205643 7032868000 2019-07-12 167.68.102.5 54028020191305000004 2019-05-10 P FC1242D0EC2D3B2AC8280BF1A124E85FEFEE16D6 FC1242D0EC2D3B2AC8280BF1A124E85FEFEE16D6 2017 2019-02-21 02:37:17Z X STEVEN A LOY 1345 EASTON AVENUE SOMERSET NJ 088731499 26173467 false X WWW.RUTGERSPREP.ORG X 1766 NJ PRE-KINDERGARTEN THROUGH TWELFTH GRADE CO-EDUCATIONAL INDEPENDENT DAY SCHOOL 26 26 285 26 0 773585 763040 23955009 23265041 453591 663273 371816 419542 25554001 25110896 4815957 5012693 0 0 14153476 14209777 0 0 738415 6082960 5331047 25052393 24553517 501608 557379 47767326 46822590 8522321 6764110 39245005 40058480 THROUGH EXCELLENCE IN EDUCATION, WE INSPIRE STUDENTS TO DISCOVER AND PURSUE THEIR PASSIONS, EMBRACE INTELLECTUAL CURIOSITY AND CREATIVITY, AND LEAD WITH CONFIDENCE. false false 17685389 5012693 20605330 EDUCATION AND INSTRUCTION FOR APPROXIMATELY 620 STUDENTS IN GRADES PRE-KINDERGARTEN THROUGH GRADE 12 SERVING SOMERSET COUNTY AND ADJACENT COMMUNITIES. 1360383 1275136 STUDENT SERVICES - ACTIVITIES (INCLUDING ATHLETICS, STUDENT PUBLICATIONS, DRAMA, CLUBS ETC.) 1219422 1657738 AUXILIARY ENTERPRISES (INCLUDING SCHOOL STORE, CAFETERIA, INTERNATIONAL PROGRAM, SUMMER CAMPS, AFTER SCHOOL PROGRAMS, GRADUATION). 20265194 true true false false false false false false false true true false false false true true true false true false false false false false false false false false true true false false false true false false true false true false false false false false false false false true 52 0 true 285 true false false false false false false false false false false X 26 26 false false false false false false false true true false false true true true true true false true false false X ROBERT APGAR 7325455600 1345 EASTON AVENUE SOMERSET NJ 088731499 X BRUCE WILLIAMS TRUSTEE 1.0 0.0 X 0 0 0 ANA AYMES TRUSTEE 1.0 0.0 X 0 0 0 ALAN WINK TRUSTEE 1.0 0.0 X 0 0 0 KATE ANDERSEN-SHEFT SECRETARY, TRUSTEE 2.0 0.0 X X 0 0 0 MARK A BEAN TRUSTEE 1.0 0.0 X 0 0 0 NAN M BLECKER TRUSTEE 1.0 0.0 X 0 0 0 SCOTT BOWEN TRUSTEE 1.0 0.0 X 0 0 0 ANDREA CUNNELL TRUSTEE 1.0 0.0 X 0 0 0 ANDREW K GOLDEN TRUSTEE 1.0 0.0 X 0 0 0 DELLA HAMMER CHERCHIA TRUSTEE 1.0 0.0 X 0 0 0 CHRISTIAN HUSBY TRUSTEE 1.0 0.0 X 0 0 0 JONATHAN D KAUFELT TRUSTEE 1.0 0.0 X 0 0 0 BENEDICT LAU TRUSTEE 1.0 0.0 X 0 0 0 PETER S LEWIS TRUSTEE 1.0 0.0 X 0 0 0 HENRY RAMALLO TRUSTEE 1.0 0.0 X 0 0 0 ERNEST RENDA PRESIDENT, TRUSTEE 3.0 0.0 X X 0 0 0 GEORGES RICHA VICE PRESIDENT, TRUSTEE 2.0 0.0 X X 0 0 0 THANGAMANI SEENIVASAN TRUSTEE 1.0 0.0 X 0 0 0 LORETTA SHAW-LORELLO TRUSTEE 1.0 0.0 X 0 0 0 MARK SHERMAN TRUSTEE 1.0 0.0 X 0 0 0 DAVID SORIN TRUSTEE 1.0 0.0 X 0 0 0 DONALD SUTTON TRUSTEE 1.0 0.0 X 0 0 0 GERALD TAMBURRO TREASURER, TRUSTEE 2.0 0.0 X X 0 0 0 KATHLEEN TOOMEY TRUSTEE 1.0 0.0 X 0 0 0 MANMEET VIRDI TRUSTEE 1.0 0.0 X 0 0 0 CHRISTOPHER YORLANO TRUSTEE 1.0 0.0 X 0 0 0 STEVEN A LOY HEADMASTER 50.0 0.0 X 433703 0 51123 H STEWART WHELLER III CHIEF FINANCIAL OFFICER 50.0 0.0 X 181866 0 43793 ROBERT APGAR CHIEF OPERATING OFFICER 50.0 0.0 X 0 0 0 KEVIN MERGES DIR. OF INNOVATION CENTER 50.0 0.0 X 182697 0 34712 PETER RICHARDSON DIRECTOR OF CAMPUS OPERATIONS 50.0 0.0 X 169244 0 42527 TODD RUTMAN DIRECTOR OF FINANCE 50.0 0.0 X 145829 0 33824 JOE CHODL UPPER SCHOOL PRINCIPAL 50.0 0.0 X 129645 0 39594 ROBERT MAROTTO MIDDLE SCHOOL PRINCIPAL 50.0 0.0 X 127131 0 13252 1370115 0 258825 15 false true false SAGE DINING SERVICES INC 1402 YORK ROAD SUITE 100 LUTHERVILLE MD 21093 FOOD SERVICE 830591 ATHLETIC FIELDS OF AMERICA 145 RIVER RD MONTVILLE NJ 07045 LANDSCAPE 150876 BROWN BROTHERS HARRIMAN CO 140 BROADWAY NEW YORK NY 10005 FINANCIAL SERVICES 121000 WELLS FARGO FINANCIAL LEASING 123 MAIN STREET DUBLIN PA 18917 FINANCIAL SERVICES 109064 4 763040 334746 763040 STUDENT TUITION 611110 21777548 21777548 STUDENT FEES 611110 892450 892450 OTHER PROGRAMS 611110 595043 595043 23265041 405093 405093 0 0 146379 146379 0 146379 146379 1116080 857900 258180 258180 258180 0 0 0 0 0 0 231680 204671 27009 27009 SUMMER CAMPS 900099 159264 159264 OTHER REVENUE 900099 86890 86890 246154 25110896 23538204 809652 0 5012693 5012693 0 0 752934 48550 510185 194199 53919 53919 10952886 9090895 1499311 362680 609606 505973 76201 27432 991325 822799 123916 44610 849107 668711 132152 48244 0 47797 47797 95350 95350 0 0 0 0 151919 116216 35703 113164 73556 16975 22633 65007 65007 0 263529 250353 10541 2635 94263 82663 11600 0 108241 71062 24562 12617 22121 22121 0 1162052 1103949 46482 11621 136921 13694 123083 144 DINING SERVICE 729748 729748 OTHER EXPENSES 1179132 495235 683897 0 ACADEMIC DEPT. EXP./ACTIVITIES 0 ATHLETICS & STUDENT ACTIVITIES 469058 469058 692745 591113 101632 24553517 20265194 3549908 738415 7417367 6560054 10806614 8102303 504437 283369 195262 295644 121000 121000 0 0 0 0 288443 269734 109026 111879 36838902 18532209 18450244 18306693 9261829 12242570 0 0 0 0 0 0 613104 529344 47767326 46822590 1786283 1832267 0 0 4167554 4765730 2389999 0 0 0 0 0 0 0 0 0 178485 166113 8522321 6764110 X 33794225 34615112 2818156 2810744 2632624 2632624 39245005 40058480 47767326 46822590 557379 256096 X false true X true false X 11631891 12500 792333 13680 12423044 10623024 115733 1130530 237396 11631891 10568391 108089 153480 206936 10623024 10120394 281915 203043 36961 10568391 8762339 86209 1322314 50468 10120394 0.62020 0.16820 0.21160 false false 468379 468379 24387842 11558375 12829467 4311717 3404596 907121 7670964 3569238 4101726 18306693 0 AMOUNTS HELD FOR OTHERS 79430 ASSET RETIREMENT OBLIGATION 86683 166113 20558970 256096 -5012693 -4756597 25315567 -204671 -204671 25110896 19745495 204671 204671 19540824 5012693 5012693 24553517 FORM 990, SCHEDULE D, PART V, LINE 4 THE INTENDED USE OF ENDOWMENT FUNDS ENDOWMENT FUNDS HAVE BEEN ESTABLISHED BY THE SCHOOL FOR SCHOLARSHIPS, FACULTY DEVELOPMENT AND GENERAL PURPOSES. FORM 990, SCHEDULE D, PART X INCOME TAXES The School is an organization described under Section 501(c)(3) of the Internal Revenue Code and is exempt from Federal income taxes under Section 501(a) of the Code on income generated by activities that are substantially related to its tax-exempt purpose. There are certain transactions that could be deemed unrelated business income and could result in a tax liability. Management reviews transactions to estimate potential tax liabilities using a threshold of more likely than not. It is managements estimation that there are no material tax liabilities that are required to be recorded. FORM 990, SCHEDULE D, PART XI RECONCILIATION OF REVENUE LINE 2D FINANCIAL AID $(5,012,693) LINE 4B COST OF GOODS SOLD $ (204,671) ----------------- $ (204,671) FORM 990, SCHEDULE D, PART XII RECONCILIATION OF EXPENSES LINE 2D COST OF GOODS SOLD $ 204,671 --------------------- $ 204,671 LINE 4B FINANCIAL AID $5,012,693 true true true true true true true false false false false false false false false true false true RACIALLY NONDISCRIMINATORY FORM 990, SCHEDULE E, LINE 3 A STATEMENT AS TO SUCH POSITION IS INCLUDED IN ADVERTISEMENTS AND ON THE ORGANIZATION'S WEBSITE. FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY FORM 990, SCHEDULE E, LINE 6A NO CHILD LEFT BEHIND, STATE OF NEW JERSEY - TEXTBOOKS NURSING AND TECHNOLOGY. true STUDENT FINANCIAL AID & SCHOLARSHIPS 267 5012693 FORM 990, SCHEDULE I, PART I, LINE 2 RUTGERS PREPARATORY SCHOOL OFFERS FINANCIAL AID TO QUALIFIED STUDENTS BASED ON THE DEMONSTRATED FINANCIAL NEED OF THE FAMILY AND THE AVAILABILITY OF FINANCIAL AID FUNDS. THESE FUNDS ARE NEED-BASED FINANCIAL AID. RUTGERS PREPARATORY SCHOOL USES TUITION AID DATA SERVICES (TADS) AS ITS FINANCIAL Aid APPLICATION SERVICE. TADS ASSISTS INDEPENDENT SCHOOLS IN DETERMINING FINANCIAL NEED. ALL APPLICATIONS FOR AID ARE MADE THROUGH THE ADMISSION OFFICE AND THE LIST OF FAMILIES WHO RECEIVE AID IS KEPT CONFIDENTIAL. FINANCIAL AID GRANTS ARE APPLIED AS A REDUCTION TO THE FAMILY'S TUITION. X X true true X X X X false false false false false false false false false STEVEN A LOY HEADMASTER 382959 0 0 0 50744 0 33932 0 17191 0 484826 0 0 0 H STEWART WHELLER III CHIEF FINANCIAL OFFICER 180342 0 0 0 1524 0 21099 0 22694 0 225659 0 0 0 KEVIN MERGES DIR. OF INNOVATION CENTER 182490 0 0 0 207 0 15179 0 19533 0 217409 0 0 0 PETER RICHARDSON DIRECTOR OF CAMPUS OPERATIONS 161911 0 0 0 7333 0 18471 0 24056 0 211771 0 0 0 TODD RUTMAN DIRECTOR OF FINANCE 145546 0 0 0 283 0 0 0 33824 0 179653 0 0 0 JOE CHODL UPPER SCHOOL PRINCIPAL 129384 0 0 0 261 0 5770 0 33824 0 169239 0 0 0 FORM 990, SCHEDULE J, PART I, LINE 1A HOUSING AND OTHER ALLOWANCES AND TRAVEL FOR COMPANIONS HOUSING AND OTHER TAXABLE ALLOWANCES DESCRIPTION: THE ALLOWANCES FOR THE FOLLOWING EMPLOYEE IS TAXABLE AND REFLECTED AS PART OF TAXABLE INCOME AND INCLUDED AS TAXABLE INCOME ON HIS FORM W-2, BOX 1 AND 5. STEVEN LOY'S CONTRACT INCLUDES A HOUSING AND RELATED EXPENSES ALLOWANCE OF $35,400 FOR MORTGAGE PAYMENTS, REAL ESTATE TAXES, INSURANCE, MAINTENANCE AND UTILITIES; AN AUTOMOBILE ALLOWANCE OF $6,500 FOR FUEL AND MAINTENANCE; and the taxable lease value of a vehicle provided by the school of $6,641. TRAVEL FOR COMPANIONS: THE HEADMASTER AND HIS SPOUSE SERVE AS AMBASSADORS FOR THE SCHOOL AND FULFILL A KEY ADMINISTRATIVE ROLE IN FUNDRAISING, MARKETING, AND RECRUITMENT OF FACULTY AND STUDENTS. THE HEADMASTER'S SPOUSE ALSO SERVES IN THE ROLE OF ATHLETIC COACH AND INSTRUCTOR. TRAVEL RELATED ONLY TO THE RESPONSIBILITIES OF THESE FUNCTIONS IS REIMBURSED IN ACCORDANCE WITH THE SCHOOL'S PROCUREMENT GUIDELINES AND IS NOT REPORTED AS TAXABLE COMPENSATION TO THE HEADMASTER. TRAVEL OUTSIDE OF THIS FUNCTION IS NOT REIMBURSED. STEVEN A LOY officer HOUSE & HOUSE IMPROV X 121000 121000 false true true 121000 PHILOMENA C LOY FAMILY - S.A. LOY 53919 COMPENSATION & BENEFITS false X 7 334746 FMV false true false FORM 990, SCHEDULE M, PART I, COLUMN (B) NUMBER OF CONTRIBUTORS THE NUMBER IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. THE ORGANIZATION RECEIVED 10 STOCK CONTRIBUTIONS FROM 7 CONTRIBUTORS. FORM 990, PART VI, LINE 11 REVIEW OF FORM 990: THE FORM 990 IS PREPARED BY THE CONTROLLER AND COO WITH INPUT FROM THE HEADMASTER AND OTHER SCHOOL ADMINISTRATORS WITH ASSISTANCE FROM THE SCHOOL'S TAX ACCOUNTANTS. THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. THE FINAL COPY OF THE FORM 990 IS PROVIDED TO EACH OF THE BOARD MEMBERS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, LINE 12C CONFLICT OF INTEREST POLICY A CONFLICT OF INTEREST STATEMENT IS SENT TO EACH BOARD OF TRUSTEE MEMBER AND EACH ADMINISTRATOR EVERY SEPTEMBER FOR SIGNATURE. THE SIGNED CONFLICT OF INTEREST STATEMENTS ARE RETURNED TO THE ASSISTANT TO THE HEADMASTER. THE STATEMENTS ARE REVIEWED FOR ANY REPORTED POTENTIAL CONFLICTS. ANY POTENTIAL CONFLICTS ARE REPORTED TO THE PRESIDENT OF THE BOARD AND/OR HEADMASTER. IF NECESSARY, THE COMMITTEE ON TRUSTEESHIP AND/OR THE BOARD OF TRUSTEES WOULD PROVIDE GUIDANCE AND TAKE SUCH ACTION AS IT DEEMS APPROPRIATE UNDER THE CIRCUMSTANCES. FORM 990, PART VI, LINE 15 COMPENSATION PART VI, LINE 15A: A THREE-MEMBER COMPENSATION COMMITTEE CONSISTING OF INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES OVERSEES THE ENGAGEMENT OF THE HEADMASTER. IT ALSO REVIEWS ANNUAL PERFORMANCE. IN 2015, THIS COMMITTEE NEGOTIATED A LONG-TERM EMPLOYMENT CONTRACT WHICH RUNS THROUGH JUNE 30, 2022 WITH THE HEADMASTER. IN THE COURSE OF COMMITTEE AND BOARD DELIBERATIONS, THE SCHOOL LOOKED AT MARKET COMPARABLES AND OTHER OUTSIDE INFORMATION. THE COMPENSATION COMMITTEE MET BY TELEPHONE, EMAIL, ETC. ON FREQUENT OCCASIONS DURING THE DELIBERATION PERIOD AND IT RETAINED CONTEMPORANEOUS RECORDS. THE SCHOOL ALSO UTILIZED OUTSIDE LEGAL COUNSEL TO FORMALIZE AND FINALIZE THE AGREEMENT. THE CONTRACT WAS APPROVED BY THE BOARD OF TRUSTEES. PART VI, LINE 15B: THE HEADMASTER FIXES THE COMPENSATION OF THE COO IN ACCORDANCE WITH REGULAR AND CONTINUING COMPENSATION PRACTICES FOR ALL SCHOOL EMPLOYEES. FORM 990, PART VI, LINE 19 RUTGERS PREPARATORY SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. PART I, LINE B - AMENDED RETURN RUTGERS PREPARATORY FILED AN AMENDED FORM 990 FOR YEAR ENDED JUNE 30, 2018 WITH THE FOLLOWING AMENDMENTS: PART VII: The titles and positions for the following trustees were updated to properly reflect their board roles for YE June 30, 2018 - Ernest Renda President, Trustee - Georges Richa Vice President, Trustee - Gerald Tamburro Treasurer, Trustee - Bruce Williams Trustee - Ana Aymes Trustee - Alan Wink - Trustee PART IV, QUESTION 28b: UPDATED TO "YES' SCHEDULE L, PART IV: Was completed to disclose a family member employment relationship. SCHEDULE O: AMENDED TO REFLECTED UPDATED TITLES FOR BOARD OFFICERS AND TRUSTEES IN THE SCHEDULE O NARRATIVES.