2017-03-31T12:23:08-05:00 2016-06-30 GRANT THORNTON LLP 8300 THORN DRIVE SUITE 300 WICHITA KS 672262708 990 2015-07-01 750800650 Hockaday School % WHITNEY JOHNSON HOCK 2143636311 11600 Welch Road Dallas TX 75229 JT COATS CFO 2143636311 2017-05-15 true Shannon A Rudisell P01435967 3162653231 2015 2021-01-29 14:40:06Z JT COATS 11600 Welch Road Dallas TX 75229 46941825 false X www.hockaday.org X 1913 TX The Hockaday School, founded in 1913, provides a college preparatory education for girls of strong potential who may be expected to assume positions of leadership. 51 51 548 169 -28985 -33998 10416506 10848466 30851022 32279096 2387831 1508765 649289 807045 44304648 45443372 3363220 3384485 0 0 26217832 25247110 1100 3000 1968761 14527632 12869269 44109784 41503864 194864 3939508 252007657 254839443 50192669 54334805 201814988 200504638 BELIEVING IN THE LIMITLESS POTENTIAL OF GIRLS, HOCKADAY SCHOOL DEVELOPS RESILIENT, CONFIDENT WOMEN WHO ARE EDUCATED AND INSPIRED TO LEAD LIVES OF PURPOSE AND IMPACT. false false 34097718 3384485 32279096 The school provided a college preparatory education for lower, middle, and upper school girls with strong potential who may be expected to assume positions of responsibility and leadership in later years. There were 1,021 day students and 77 residence students for the 2015-2016 academic year. In addition, the School provided educational programs in the summer and after school. 34097718 true true false false false false false true false true true true false false true true true false true false false false true false true true false false true true true false false false false false false true false false true true false false false false false false false false true X 191 1 true 548 true true true true BD CJ false false false true true false false false false X 51 51 true false false false false false false true true true false true true true true true true true true false AK MD MA NH OR X WHITNEY JOHNSON 2143636311 11600 WELCH ROAD Dallas TX 75229 X David Haemisegger Board Chair 15.0 0.0 X X 0 0 0 Jennifer Mosle Board Vice Chair 5.0 0.0 X X 0 0 0 Barbara Glazer Rosenblatt Executive Committee Chair 5.0 0.0 X X 0 0 0 Kathryn Walker Francis Secretary 5.0 0.0 X X 0 0 0 George Lamb Treasurer, Finance Chair 5.0 0.0 X X 0 0 0 Jacquelin Thomas Audit & Ethics Chair 5.0 0.0 X X 0 0 0 Maryann Sarris Mihalopoulos Board Gov. & Leadership Chair 5.0 0.0 X X 0 0 0 Sandy Schmitz Educ. & Student Life Chair 5.0 0.0 X X 0 0 0 Richard S Rogoff Employee Benefits Chair 5.0 0.0 X X 0 0 0 Shawna Nesbitt Strategic Planning chair 5.0 0.0 X X 0 0 0 Carrie Moore Becker Trustee 3.0 0.0 X 0 0 0 Joseph Benedict Trustee 3.0 0.0 X 0 0 0 Herbert Buford Jr Trustee 3.0 0.0 X 0 0 0 Kathy Crow Trustee 3.0 0.0 X 0 0 0 Tucker Ford Enthoven Trustee 3.0 0.0 X 0 0 0 Courtney Flanagan Trustee Ex officio 3.0 0.0 X 0 0 0 Kelli Ford Trustee 3.0 0.0 X 0 0 0 Katharine Friguletto Trustee Ex Officio 3.0 0.0 X 0 0 0 Mandy Ginsberg Trustee 3.0 0.0 X 0 0 0 Rosalind Grover Trustee 3.0 0.0 X 0 0 0 Marjorie Hass Trustee 3.0 0.0 X 0 0 0 Ariana Held Trustee Ex Officio 3.0 0.0 X 0 0 0 Elizabeth Helfrich Trustee Ex Officio 3.0 0.0 X 0 0 0 Rajani Kapu Trustee 3.0 0.0 X 0 0 0 Suzanne Kim Trustee 3.0 0.0 X 0 0 0 Charlene Cline Marsh Trustee 3.0 0.0 X 0 0 0 Casey McManemin Trustee 3.0 0.0 X 0 0 0 Nick Merrick Trustee 3.0 0.0 X 0 0 0 Peggy Black Meyer Trustee 3.0 0.0 X 0 0 0 Rick O'Brien Trustee 3.0 0.0 X 0 0 0 Maria Martineau Plankinton Trustee 3.0 0.0 X 0 0 0 Mickey Quinones Trustee 3.0 0.0 X 0 0 0 Margorie Reese Trustee 3.0 0.0 X 0 0 0 Betty Simons Regard Trustee 3.0 0.0 X 0 0 0 Samantha Simons Trustee 3.0 0.0 X 0 0 0 Judith Stewart Trustee 3.0 0.0 X 0 0 0 Juan Suarez Trustee 3.0 0.0 X 0 0 0 Allison Campfield Taten Trustee 3.0 0.0 X 0 0 0 Jacquelin Sewell Taylor Trustee 3.0 0.0 X 0 0 0 Shannon Thompson Trustee 3.0 0.0 X 0 0 0 Courtney Wang Trustee 3.0 0.0 X 0 0 0 Edward M Ackerman Life Trustee 3.0 0.0 X 0 0 0 Ruth Altshuler Life Trustee 3.0 0.0 X 0 0 0 Linda Custard Life Trustee 3.0 0.0 X 0 0 0 Lyda Hill Life Trustee 3.0 0.0 X 0 0 0 James Hoak Life Trustee 3.0 0.0 X 0 0 0 Shatzie Lee Life Trustee 3.0 0.0 X 0 0 0 Margaret McDermott Life Trustee 3.0 0.0 X 0 0 0 Ellen Higginbotham Rogers Life Trustee 3.0 0.0 X 0 0 0 Barney Young Life Trustee 3.0 0.0 X 0 0 0 Paula Mosle Life Trustee Term 4/28/16 3.0 0.0 X 0 0 0 Jamiel Akhtar Investment Chair 5.0 0.0 X 0 0 0 Elizabeth Lee Interim Head of School 50.0 0.0 X 162170 0 11369 JT Coats CFO 50.0 0.0 X 243982 0 24314 Linda Kramer Head of Middle School 50.0 0.0 X 165158 0 14935 Debby Spradley Director of Development 50.0 0.0 X 177080 0 9394 Edward Long Fine Arts Chair 40.0 0.0 X 155521 0 19114 Barbara Fishel Dean of Studies 40.0 0.0 X 149272 0 18971 Jason Curtis Director of Technology 40.0 0.0 X 132316 0 26561 Cathy Murphree Asst Head for Academic Affairs 50.0 0.0 X 141947 0 17046 Kim Wargo Former Head of School 0.0 0.0 X 710737 0 32259 2038183 0 173963 25 true true false Lee Lewis Construction Inc 17177 Preston Road Suite 160 DALLAS TX 75248 Construction 14265629 Good Fulton and Farrell 2808 Fairmont Suite 300 DALLAS TX 75201 Architecture 306847 Pritchard Associates Inc 2121 N Akard Street Suite 100 DALLAS TX 75201 Project Mgmt 267122 SAGE Dining Services 1402 York Road LUTHERVILLE MD 21093 Food Mgmt 256851 Cambridge Associates PO Box 83232 CHICAGO IL 60691 Consulting 188341 11 X 189350 10659116 112499 10848466 TUITION 611110 25021504 25021504 BOARDING & LUNCH 721310 3823713 3823713 EDUCATIONAL FEES 611110 1886024 1886024 EXTENDED SERVICES 611710 1421194 1421194 OTHER PROGRAM SERVICE REVENUE 900099 126661 126661 32279096 1503873 -29901 1533774 0 0 70332 13522 56810 0 56810 56810 282706 5185 282999 -293 5185 4892 4892 712563 189350 492685 219878 219878 43850 28774 15076 15076 805744 680473 125271 916 124355 CHILD DEVELOPMENT CENTER 611110 390010 390010 390010 45443372 32279096 -28985 2344795 X 0 3296485 3296485 88000 88000 0 1199172 1199172 0 19000510 16907265 1220457 872788 1263776 1026660 193258 43858 2406825 2203485 96671 106669 1376827 1127014 192781 57032 0 165297 165297 77283 77283 0 3000 3000 0 75173 69567 5606 546886 317898 228988 1310416 1244626 43183 22607 576935 525432 51503 0 1008091 870367 91816 45908 121875 109998 11877 0 346293 183749 134118 28426 584200 496570 58420 29210 0 3534993 3004744 353499 176750 474723 474723 FOOD SERVICE 910622 910622 SUMMER SCHOOL 889190 889190 MAINTENANCE AND GROUNDS 830028 705524 83003 41501 ADMINISTRATIVE 412419 0 368942 43477 1004845 617985 135796 251064 41503864 34097718 5437385 1968761 X 4060 2120 37882288 31783338 10108094 12055080 2817251 5095117 0 0 0 0 0 0 230008 324067 292064 594223 118313413 49273837 54258912 69039576 43434901 43788494 102980079 92157428 0 0 0 0 0 0 252007657 254839443 8651442 9509874 0 0 27374281 28248902 13295000 12620000 0 0 0 0 0 3300000 0 0 871946 656029 50192669 54334805 X 75904555 79597675 68899286 59522851 57011147 61384112 201814988 200504638 252007657 254839443 3939508 -5249858 X false true X true false X 6866183 16001992 15959134 10416506 10848466 60092281 0 0 6866183 16001992 15959134 10416506 10848466 60092281 7362283 52729998 2369688 3257553 2413987 2530379 1574205 12145812 0 0 0 0 0 0 1687451 1884040 2206501 1967226 1952167 9697385 81935478 148327922 0.64355 0.55587 X Public Support Test Schedule A, Part II Per the instructions for Form 990, Part IV, Line 2, Hockaday School has completed and met the Schedule A, Part II support test requirements. As a result, Hockaday School qualifies for the special rule of limiting contributions reported on Schedule B, Parts I & II. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 805484 X false 146176138 1716266 -3256825 1623497 6125879 538142 136348061 144831504 7576804 1746919 1510739 5950293 518057 146176138 132773386 -197372 20061897 1463108 5771182 572117 144831504 121517044 3712374 15038208 1450262 5510470 533508 132773386 125365563 3679275 -895381 1298752 4778378 555283 121517044 0.20640 0.42590 0.36770 false false 357723 357723 76975031 36321469 40653562 4579182 3440235 1138947 36401477 9512133 26889344 69039576 GLOBAL EQUITY 37419221 F ABSOLUTE RETURN 36963274 F REAL ASSETS 8991349 F FIXED INCOME 140000 F PRIVATE EQUITY 8643584 F 92157428 0 ASSET RETIREMENT OBLIGATION 389732 LEASE LIABILITIES 44227 DEPOSITS 222070 656029 X 37888721 -5249858 254248 1215454 -3780156 41668877 3774495 3774495 45443372 39199071 254248 1215454 1469702 37729369 3774495 3774495 41503864 Description of Organization's Collections Part III, Line 4 Over a period of time, the School has received contributions of works of art and furnishings to be exhibited in various locations on the campus. These items have been capitalized as collections. The collection not only enhances the aesthetic environment of the school; it supports the curriculum of the school by making art available to students. The collections are recorded at appraised value when donated. The School undertakes to care for, protect, and preserve such contributed works of art and furnishings, and the Board has adopted a policy to use proceeds of deaccession or insurance recoveries for the sole purpose of acquisition of other such works of art and furnishings. Collection items are inspected periodically and cleaned and repaired as required. Intended Uses of Endowment Funds Part V, Line 4 The School manages the endowment fund to preserve the real purchasing power for the fund while providing a predictable, stable, and constant stream of earnings consistent with the School's spending needs. The current spending policy of the fund allows a maximum annual draw of 5% of a three year moving average of the market value of the total assets. During capital campaigns, an additional endowment draw will be allowed to pay campaign expenses. The endowment fund supports the general operations of the school including faculty salaries, faculty/staff professional development, student financial aid, library services, and student programs. FIN 48 (ASC 740) Footnote Part X, Line 2 The School is exempt from federal income taxes under Section 501(a) of the Internal Revenue Code ("IRC") of 1986, as amended, as an organization described in Section 501(c)(3) of the IRC, as evidenced by the School's determination letter dated October 1938. The School has been classified as an organization that is not a private foundation under IRC Sections 509(a)(1), and as such, contributions to the School qualify for deduction as charitable contributions. However, income generated from activities unrelated to the School's exempt purpose is subject to tax under IRC Section 511. The School did not have any material unrelated business income tax liability or expense for the years ended June 30, 2016 and 2015. The School has concluded that it does not have any unrecognized tax benefits resulting from current or prior period tax positions. The School does not have any outstanding interest or penalties, and none have been recorded in the statements of activities for the years ended June 30, 2016 or 2015. Reconciliation of Revenue Part XI, Lines 2d & 4b LINE 2D Rental activity expenses 13,522 Fundraising (event) expenses 492,685 Gaming 28,774 Cost of goods sold 680,473 ------------ TOTAL $1,215,454 LINE 4B grants netted against revenue 3,384,485 Childcare income netted against expense 390,010 ------------ Total $ 3,774,495 Reconciliation of Expenses PArt XII, LIne 2D and 4B Line 2D Rental activity expenses 13,522 Fundraising (event) expenses 492,685 Gaming 28,774 Cost of goods sold 680,473 ------------ Total $ 1,215,454 LINE 4B grants netted against revenue 3,384,485 Childcare income netted against expense 390,010 ------------ Total $ 3,774,495 true true true true true true true false false false false false false false false false false true Publication of Racially Nondiscriminatory Policy Part I, Line 3 The School publishes its racially nondiscriminatory policy in the education issue of the Dallas Morning News at least twice annually. In addition, the policy is printed on all admission materials. true East Asia and the Pacific Grantmaking Student Financial Aid 5000 Central America and the Caribbean Grantmaking Student Financial Aid 67000 South America Grantmaking Student Financial Aid 16000 88000 88000 Financial aid/scholarship East Asia and the Pacific 1 5000 student acct Financial aid/scholarship Central America and the Caribbean 2 67000 student acct Financial aid/scholarship South America 1 16000 student acct true false true true false false Procedure for Monitoring Use of Grant Funds Outside U.S. Part I, Line 2 Grants are given to foreign individuals for schooling in the U.S. Therefore, the use of the funds is with the grantmaking organization. Ruffalocody LLC Telemarket false AK MD MA NH OR WA HPA Benefit 858711 189350 669361 111041 98905 60766 57547 124914 Fun Day 43202 43202 39512 0 901913 189350 712563 111041 98905 60766 57547 164426 492685 219878 43850 28774 true 1.00000 43850 28774 28774 15076 TX false The only gaming activites of the Hockaday School are raffles governed by the Texas Charitable Raffle Enabling Act. The School adheres to this act. false true false 1.00000 Whitney Johnson 11600 Welch Road Dallas TX 75229 false Whitney Johnson 200 PREPARE W-2G FORMS; SUPERVISE DEPOSITS AND AWARDS X false true Financial Aid/Scholarship 167 3296485 Procedure for Monitoring Use of Grant Funds Inside U.S. Part I, Line 2 Financial assistance is awarded based on financial need. Applicants provide detailed income information. A methodology is applied to determine need. The Financial Aid Committee (comprised of School management) allocates the financial aid resources based on the determined need. Scholarships are given to students as a reduction in their tuition, lunch fees, and/or activity fees. The aid is awarded objectively and in a non-discriminatory manner. X X true true X X X X true true false false false false false false false Elizabeth Lee Interim Head of School 162170 0 0 0 0 0 11255 0 114 0 173539 0 0 0 JT Coats CFO 243982 0 0 0 0 0 17487 0 6827 0 268296 0 0 0 Kim Wargo Former Head of School 412423 0 0 0 298314 0 16826 0 15433 0 742996 0 0 0 Debby Spradley Director of Development 177080 0 0 0 0 0 2213 0 7181 0 186474 0 0 0 Linda Kramer Head of Middle School 165158 0 0 0 0 0 13203 0 1732 0 180093 0 0 0 Edward Long Fine Arts Chair 155521 0 0 0 0 0 11979 0 7135 0 174635 0 0 0 Barbara Fishel Dean of Studies 149272 0 0 0 0 0 12280 0 6691 0 168243 0 0 0 Jason Curtis Director of Technology 132316 0 0 0 0 0 10211 0 16350 0 158877 0 0 0 Cathy Murphree Asst Head for Academic Affairs 131947 10000 0 11619 5427 158993 Tax indemnification and gross-up payments Part I, Line 1a The school grosses up additional pay to cover excess tuition over remission amount, and the employee portion of medical premiums. This benefit is fully taxable to employees. Discretionary Spending Account Part I, Line 1a The School provides the Head of School a discretionary budget for school related expenses. All expenses run through the normal expense process and require the appropriate substantiation. separation payment or change of control payment Part I, Line 4a The Former Head of School, Kim Wargo, resigned on June 18, 2015, and received separation payments in monthly installments, with the final installment to be made by July 1, 2017. Separation received during calendar year 2015 was $247,500 Supplemental nonqualified retirement plan Part I, Line 4b The Former Head of School had a 457(f) plan that allowed for voluntary contributions. No payments were contributed to the 457(f) plan, but the entire balance was paid out upon separation. The school contributed 3% interest on the beginning balance in accordance with the plan agreement. A Red River Education Finance Corporation 752791247 756872JV0 2015-04-23 15434976 Current Refunding of Ser 2005 Bond false false false A 14905000 0 15434976 0 0 0 180283 0 0 15434976 0 0 2015 true false true true A false false false false 0 false false false false A true false false 0 false 0 false true A true 43000 Financial Aid Education 32245 Tuition Remission Education X 5860 FMV X 18 106639 FMV 1 false true false EXECUTIVE COMMITTEE Part VI, Line 1a The Executive Committee consists of the Officers of the Board, Chairs of other standing committees, subject to exceptions, and up to three at-large members appointed by the Board Chair. Per the School's bylaws, the Board delegates to the Executive Committee all powers and duties of the Board except those powers and duties which are expressly reserved to the full board. Included in such delegated powers is the power to compromise, settle, and defend against any and all disputes, claims, and lawsuits, subject to the policies of the Board. The Executive Committee shall conduct the business of the School and oversee the work of Committees between meetings of the full Board. Specific responsibilities include, but are not limited to: monitoring the School's progress relative to the long range plan, setting annual goals for the School and the Head of School, monitoring the Board's progress toward its annual goals, monitoring and reviewing the progress of the Head of School against established goals, and reviewing all policy recommendations prior to presentation to the full Board. FAMILY AND BUSINESS RELATIONSHIP Part VI, Line 2 Jennifer Mosle and Paula Mosle have a family relationship. ODTKE NOT AT ORGANIZATION'S MAILING ADDRESS Part VI, Line 9 Kim Wargo, 350 East South Water Street, Chicago, IL 60601 Form 990 Review Process Part VI, Line 11b The Form 990 is prepared by the management of the School with the assistance of Grant Thornton LLP, independent tax advisors. The Form 990 and all of the required schedules are presented to the Audit & Ethics Committee, consisting of not less than four members. The Audit & Ethics Committee then reviews the draft Form 990 with management of the school and Grant Thornton LLP. Once the draft is finalized, it is distributed to the Board members via email prior to filing with the IRS. Conflict of Interest Policy Monitoring & Enforcement Part VI, Line 12c The conflict of interest policy and questionnaire are distributed to the Board of Trustees at the May (final) board meeting. The conflict of interest policy and questionnaire are distributed to key employees during the same time frame (as they do not all attend the Board meeting). The questionnaires are returned to the office of the CFO and are reviewed for any conflicts. In addition, the director of finance and the CFO review the forms and discuss other potential conflicts. A summary of such conflicts, if any, is prepared for disclosure on the Form 990 and is reviewed by the Audit & Ethics Committee. A person found to have a conflict of interest shall not be involved in the discussion of or vote on the transaction or arrangement giving rise to the conflict. Process for Determining Compensation Part VI, Lines 15a & 15b The Compensation Committee sets the compensation for the Head of School. The Compensation Committee is comprised of the Chair of the Board, the Chair of the Finance and Administration Committee, and the Chair of the Board Governance and Leadership Committee. The Compensation Committee is deemed independent as it is comprised of individuals unrelated to and not subject to the control of the Head of School. In preparation for this decision, a compensation comparison is prepared using data from the National Association of Independent Schools (NAIS). Data is pulled and analyzed for a set of predetermined peer schools and benchmark schools. The Strategic Planning Committee sets the list of benchmark schools as they are used for comparison for various items across the School. The Compensation Committee then uses this information to negotiate the contract for the Head of School. The Head of School sets the salaries of the Leadership Team (including the key employees as well as various other leadership positions). The Head uses similar comparable data from NAIS to determine salary levels. The Compensation Committee approves the salaries set by the Head of School. In addition, the compensation agreement between the Head of School and the Compensation Committee is documented in meeting minutes which are retained as part of the year's Board meeting minutes. How Documents are Made Available to the Public Part VI, Line 19 The school's governing documents, conflict of interest policy, and financial statements are available to the public upon request. Investment Management Fees Part IX, Line 11F The school nets investment fees against interest and dividend income. These fees include custodial, advisory, and other fees disclosed by certain investment managers and were approximately $448,000 and $489,000 for the years ended June 30, 2016 and 2015, respectively.