2018-04-27T10:56:02-05:00 2017-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1650 MARKET ST SUITE 4500 PHILADELPHIA PA 19103 990 2016-07-01 231178880 VALLEY FORGE MILITARY ACADEMY FOUNDATION VALL 6109891200 1001 EAGLE ROAD WAYNE PA 190873695 Vincent j Vuono CHIEF FINANCIAL OFFICER 6109891200 2018-04-27 1 JULIUS C GREEN CPA P00350393 2159720701 X 174.59.42.130 2018-04-27 10:02:19 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 41D52B76DFE0CA0C5E5ED141E25DBC48D8427C36 2016 2021-01-29 14:40:06Z COL JOHN C CHURCH 1001 EAGLE ROAD WAYNE PA 190873695 31248506 0 X www.VFMAC.EDU X 1928 PA EDUCATIONAL INSTITUTION FOCUSED ON BUILDING LEADERSHIP THROUGH A MILITARY ENVIRONMENT. 18 18 227 28 367567 0 1811915 4200208 28862939 23715279 213501 713899 186293 135918 31074648 28765304 9890787 7740032 0 0 10057322 9846001 0 0 572771 11426952 10455632 31375061 28041665 -300413 723639 43945120 44268158 12355456 11121194 31589664 33146964 X To educate cadets, within an academic and military environment, to be fully prepared for their responsibilities as citizen leaders who are mentally alert, sound in body, considerate of others and possessed of the highest sense of duty, honor, loyalty, and courage.To foster the love of God and country, high moral standards and strong character traits that will make all a credit to themselves, their families, their alma mater, their country, and their God. 0 0 22974871 7740032 23715279 Valley Forge provides cadets with an educational experience built on our five cornerstones: Academic Excellence, Character Development, Personal Motivation, Physical Development, and Leadership. A Valley Forge education is rooted in quality academic programs supported by leadership responsibilities and strong athletic and extracurricular opportunities. THE SCHOOL HOSTED 438 STUDENTS DURING THE YEAR. 22974871 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 17 0 1 227 1 1 1 0 0 0 0 1 1 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 PA X Vincent J Vuono cpa 6109891232 1001 EAGLE ROAD WAYNE PA 190873695 William R Floyd jr BOARD MEMBER 1.00 X 0 0 0 Robert A Bacine Esq Vice Chair 1.00 X X 0 0 0 JOSEPH A BARTASIUS Board Member 1.00 X 0 0 0 FREDERICK BREITENFELD JR phd Board Member 1.00 X 0 0 0 JOHN ENGLISH CHAIRMAN 1.00 X X 0 0 0 david esqueda board Member 1.00 X 0 0 0 walter T Lord board Member 1.00 X 0 0 0 anthony mcintyre board Member 1.00 X 0 0 0 J KENT MCNEW Board Member 1.00 X 0 0 0 Conrad E Muhly iv board Member 1.00 X 0 0 0 jeffrey J nick board Member 1.00 X 0 0 0 Daniel J Reavy board Member 1.00 X 0 0 0 MICHAEL R RICKETTS Board Member 1.00 X 0 0 0 CHRIS ROUSSOS BOARd Member 1.00 X 0 0 0 George H Schildge board Member 1.00 X 0 0 0 audrey spangenberg board Member 1.00 X 0 0 0 JONATHAN TRATT Board Member 1.00 X 0 0 0 ROQUE SCHIPILLITI BOARD MEMBER 1.00 X 0 0 0 stacey r sauchuk phd president (UNTIL 6/30/16) 40.00 X 246396 0 28448 vinceNT j vuono cpa Treasurer/Chief Financial Officer 40.00 X 197637 0 18860 DOUGLAS HASBROUCK VP DEVELOPMENT (UNTIL 9/23/16) 40.00 X 148773 0 16688 JAMIESON BILELLA VP MKTING & ADMIS. (UNTIL 9/23/16) 40.00 X 170918 0 10102 Col john C church president 40.00 X 128466 0 3783 richard casey director of athletics 40.00 X 101316 0 18476 993506 0 96357 6 0 1 0 sodexo inc po box 905374 charlotte NC 28290 FOOD SVC/UNIFORMS 2132378 main line janitorial service inc 4438 lobella court chester springs PA 19425 custodial 868342 MCS Management Services 1601 market street ste 800 philadelphia PA 19103 mail/copier 189564 RILEY RIPER HOLLIN & COLAGRECO PO BOX 1265 / EAGLEVIEW CORPORATE C EXTON PA 19341 LEGAL SERVICES 164485 EG RALL JR LANDSCAPE DESIGN 622 MARKLEY STREET NORRISTOWN PA 19401 LANDSCAPING 160102 8 31080 14474 4154654 63404 4200208 Tuition and Fees 611600 22509351 22509351 Summer Camp Program 611600 806911 569658 237253 HOUSING RENTALS 611600 313668 313668 FINANCIAL AID 611600 85349 85349 23715279 386760 386760 178584 117425 61159 61159 61159 2613477 13390 2299728 0 313749 13390 327139 327139 35120 31080 66049 -30929 -30929 CAVALRY 713990 69155 69155 RIFLE CLUB 713990 11665 11665 PARKING ENFORCEMENT 812930 11340 11340 13528 13528 105688 28765304 23478026 367567 719503 7740032 7740032 651183 651183 7346175 5828311 1265184 252680 121341 112047 5352 3942 1025095 754435 206584 64076 702207 419456 265806 16945 210050 210050 87150 87150 119071 119071 1335850 881984 336497 117369 237575 44697 192878 1439322 1305577 120344 13401 68175 68175 1677488 1156702 456121 64665 217459 181970 32542 2947 199378 175430 21082 2866 1352823 1190331 143046 19446 Food Service 1536982 1536982 Plant Operations 574755 574755 Uniforms 574002 574002 Student Programs 394989 394989 430563 103171 312958 14434 28041665 22974871 4494023 572771 1500 1500 1944344 396601 118000 67001 202620 88137 87719 650921 674732 51837548 33317206 19346382 18520342 15710346 15935414 49443 54148 6087046 8277082 43945120 44268158 1574854 1387507 3340074 2614365 7194896 6949536 91126 66587 154506 103199 12355456 11121194 X 10122575 9804546 9110501 8532279 12356588 14810139 31589664 33146964 43945120 44268158 X 723639 1028531 -2 -194868 X 0 1 X 1 1 1 X 1851834 2887985 2553643 1811915 4219260 13324637 1851834 2887985 2553643 1811915 4219260 13324637 2778848 10545789 433939 487848 478784 385712 386760 2173043 6883 40693 22928 16160 36533 123197 15620877 139478111 0.67510 0.80940 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9735717 137383 888748 382600 10379248 9986083 180250 -48716 381900 9735717 10156202 115374 79607 365100 9986083 9379728 34783 1094491 352800 10156202 8688966 93854 933608 336700 9379728 0.00000 0.72780 0.27220 1 0 2571602 2571602 42460417 27962281 14498136 6688823 5354925 1333898 116706 116706 18520342 INTEREST IN PERPETUAL TRUST 6857978 INTEREST IN CHARITABLE REMAINDER TRUSTS 1419104 8277082 X 21898740 1028531 41451 -8053971 -6983989 28882729 -117425 -117425 28765304 20341438 41451 117425 158876 20182562 7859103 7859103 28041665 Part V, Line 4: the endowment is to be used for the operations of the organization. the majority of funds are allocated to cadet scholarships. cadet and staff awards are also funded by the endowment. allowable endowment funding is also used for plant operations when necessary. Part X, Line 2: The Foundation has evaluated its tax positions as of June 30, 2017. A tax position is recognized as a benefit only if it is "more-likely-than-not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that has a likelihood of being realized on examination of more than 50 percent. For tax positions not meeting the "more-likely-than-not" test, no tax benefit is recorded. Under the "more-likely-than-not" threshold guidelines, the Foundation believes no significant uncertain tax positions exist, either individually or in the aggregate, that would give rise to the non-recognition of an existing tax benefit. As of June 30, 2017, the Foundation has no material unrecognized tax benefits or accrued interest and penalties. The Foundation's Form 990, Return of Organization Exempt from Income Tax for the years ended June 30, 2014 through June 30, 2017 remain subject to examination by the Internal Revenue Service, generally for three years after the date the return was filed. Part XI, Line 2d - Other Adjustments: FINANCIAL AID -7,740,032. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -68,736. CHANGE IN VALUE OF PERPETUAL TRUSTS -126,132. INVESTMENT FEES -119,071. Part XI, Line 4b - Other Adjustments: FACILITIES RENTAL EXPENSES -117,425. Part XII, Line 2d - Other Adjustments: FACILITIES RENTAL EXPENSES 117,425. Part XII, Line 4b - Other Adjustments: FINANCIAL AID 7,740,032. INVESTMENT FEES 119,071. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 ADVERTISING INCLUDES THE REQUIRED STATEMENTS REGARDING OUR RACIAL NON-DISCRIMINATORY POLICY IN BOTH PRINT AND RADIO. Schedule E, Part I, Line 6 VALLEY FORGE MILITARY ACADEMY AND COLLEGE RECEIVES A GRANT THROUGH THE PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY INSTITUTIONAL ASSIST GRANT PROGRAM. 0 HOMECOMING 30575 16855 13720 14694 13304 Golf Outing 23330 14225 9105 9393 2000 3385 53905 31080 22825 9393 16694 16689 42776 -19951 1 VARIOUS scholarships and awards 581 7740032 Part I, Line 2: VF awards internal merit scholarships based on the cadet's grades (GPA) from his/her previous school and financial need. There is a matrix used to determine the amount to be awarded to each cadet. there are also aid awards which are based on submitted FAFSA forms. both federal and state governments have charts determining aid such as through pheaa and pell grants. X 1 1 X X X 0 1 0 0 0 0 0 0 0 stacey r sauchuk phd president (UNTIL 6/30/16) 227271 0 0 0 19125 0 24756 0 3692 0 274844 0 19125 0 vinceNT j vuono cpa Treasurer/Chief Financial Officer 197637 0 0 0 0 0 4491 0 14369 0 216497 0 0 0 DOUGLAS HASBROUCK VP DEVELOPMENT (UNTIL 9/23/16) 148773 0 0 0 0 0 3369 0 13319 0 165461 0 0 0 JAMIESON BILELLA VP MKTING & ADMIS. (UNTIL 9/23/16) 170918 0 0 0 0 0 3448 0 6654 0 181020 0 0 0 Part I, Line 1a the organization provides the president with a membership to a local social club. this membership is required by the board of trustees and is used solely for business and fundraising purposes. As such, the membership dues are not treated as a taxable benefit. Part I, Line 4b The previous PRESIDENT, STACEY SAUCHUK, PARTICIPATEd IN A NON-QUALIFIED PLAN. THE AMOUNT CONTRIBUTED TO THE PLAN FOR THE YEAR PRIOR TO DEPARTING FROM THE ORGANIZATION WAS $19,125. Subsequent to the end of her contract, the amount was PAID OUT to her. Current President Col. John Church Participates in a Non-qualified plan. The amount contributed to the plan during the fiscal year was $19,125. A NORTH PENN HEALTH HOSPITAL AND EDUCATION AUTHORITY 232130191 2013-09-03 8000000 refinancing and capital improvements 0 0 0 A 915331 8000000 159204 1934400 5906356 2015 1 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 X FLIGHT SIMULATOR 1 24773 COMPARABLE SALES X VARIOUS AND SUNDRY AUCTION ITEMS, ETC. 34 20515 COMPARABLE SALES X COMPUTER EQUIPMENT 1 10480 COMPARABLE SALES X STATUE/BASE FOR MONUMENT 2 3500 PURCHASE PRICE X LUGGAGE TAGS 1 2421 PURCHASE PRICE X AMATEUR RADIO VHF/UHF TRANSRECEIVERS, ETC. 1 1715 COMPARABLE SALES 0 1 0 Part I, Column (b): THE NUMBERS IN COLUMN B REPRESENT THE NUMBER OF CONTRIBUTORS. Form 990, Part VI, Section B, line 11b The organization receives a copy of the 990 from the accounting firm preparing the return. The Controller reviews the 990, followed by the CFO. After review by the Controller and CFO, the form is presented to the Budget, Audit and Finance (BAF) Committee for its review, approval and recommendation. Then, the BAF Committee presents the form to the full Board of Trustees for its review and approval prior to the filing of the return. Form 990, Part VI, Section B, line 12c An annual questionnaire is sent to all Board members and senior staff members documenting whether they are involved in any business with the Foundation that could be construed as giving rise to a potential conflict of interest. Family and business relationships are specifically indicated in the questionnaire as being sources of potential conflicts. These questionnaires are signed by each Board member and senior staff member and returned to the Foundation's CFO for monitoring of potential conflicts. Any transactions with an interested party are at arm's length and are disclosed in the organization's financial statements. Form 990, Part VI, Section B, line 15 the organization's board of trustees determines the compensation for the president using various methods that ensure that compensation is in line with the fair market range for the industry. surveys provided by organizations that serve as consortiums of independent schools are referenced and reviewed as well as forms 990 of other, similar organizations. the discussions and decision by the executive committee take place in closeD session, however, the president's compensation package is discussed with and presented to the board prior to the final decision. OTHER KEY EMPLOYEES HAVE THEIR COMPENSATION PACKAGE RESEARCHED BY THE HUMAN RESOURCES DEPARTMENT including comparison with industry standards. these packages are presented to the president for review and final approval after discussions with the board prior to the final decision. Form 990, Part VI, Section C, line 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part XI, line 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -126,132. CHANGE IN VALUE OF PERPETUAL TRUSTS -68,736. FORM 990, PAGE 6, PART VI, LINE 14 THE ORGANIZATION HAS established a document destruction policy. A document retention POLICY will be finalized before the end of the next fiscal year, June 30, 2018. (2) CHARITABLE REMAINDER UNITRUSTS INVESTMENTS PA N/A T 0 (1) CHARITABLE REMAINDER UNITRUSt iNVESTMENTS PA N/A T 0 (1) CHARITABLE REMAINDER UNITRUSt iNVESTMENTS PA N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0