2017-05-15T07:36:15-05:00 2016-06-30 WITHUM SMITH BROWN PC 506 CARNEGIE CENTER STE 400 PRINCETON NJ 085406243 990 2015-07-01 210635004 THE PENNINGTON SCHOOL % J GRAEME MCWHIRTER PENN 6097371838 112 W DELAWARE AVE PENNINGTON NJ 08534 JGRAEME MCWHIRTER CFO 6097376120 2016-11-15 true PAUL V GERGEL P00116563 6095201188 2015 2021-01-29 14:40:06Z JGRAEME MCWHIRTER 112 W DELAWARE AVE PENNINGTON NJ 08534 27630470 false X WWW.PENNINGTON.ORG X NOT-FOR-PROFIT 1838 NJ THE PENNINGTON SCHOOL IS AN INDEPENDENT CO-EDUCATIONAL SCHOOL SERVING DAY AND BOARDING STUDENTS IN GRADES 6-12. WE ARE DEDICATED TO DEVELOPING EXCELLENCE IN ALL STUDENTS. 29 28 240 122 74988 66464 3274227 2097385 19602391 20778203 4279310 2452093 218603 359717 27374531 25687398 3779145 4279025 0 0 10693456 11435843 0 0 926099 7511995 8052760 21984596 23767628 5389935 1919770 74509154 79724568 18995736 25208710 55513418 54515858 THE PENNINGTON SCHOOL IS AN INDEPENDENT CO-EDUCATIONAL SCHOOL SERVING DAY AND BOARDING STUDENTS IN GRADES 6-12. THE SCHOOL IS DEDICATED TO DEVELOPING INDIVIDUAL EXCELLENCE IN ALL OF ITS STUDENTS. false false 19016900 4279025 20932671 COEDUCATIONAL DAY/BOARDING SCHOOL SERVICING GRADES 6 THROUGH 12. 19016900 true true false false false false false false false true true false false false true true true false true false true false true false true false false false true true true false false false false false false true true true true true false false false false false false false false true 50 0 true 240 true true true false false false false false false false false false false false false X 29 28 false false false false false true true true true false false true true true true true true true true false X J GRAEME MCWHIRTER 6097371838 112 W DELAWARE AVE PENNINGTON NJ 08534 X WILLIAM HAWKEY HEAD OF SCHOOL 40.0 0.0 X X 251938 0 116729 ROBERT BECKETT TRUSTEE 1.0 0.0 X 0 0 0 JOHN CELENTANO TRUSTEE 1.0 0.0 X 0 0 0 VERNON H HAMMOND II TRUSTEE 1.0 0.0 X 0 0 0 A LOUIS DENTON ESQ TRUSTEE 1.0 0.0 X 0 0 0 CYNTHIA HILLAS TRUSTEE 1.0 0.0 X 0 0 0 JAMES HYMAN TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL JINGOLI TRUSTEE 1.0 0.0 X 0 0 0 DENNIS KEATING TRUSTEE 1.0 0.0 X 0 0 0 JOHN KUHLTHAU TRUSTEE 1.0 0.0 X 0 0 0 REV DONALD MEDLEY TRUSTEE 1.0 0.0 X 0 0 0 REV DAVID MERTZ TRUSTEE 1.0 0.0 X 0 0 0 BISHOP JOHN SCHOL TRUSTEE 1.0 0.0 X 0 0 0 STEVEN M SILBERMAN TRUSTEE 1.0 0.0 X 0 0 0 JORDAN GRAY TRUSTEE 1.0 0.0 X 0 0 0 PETER J TUCCI ESQ TRUSTEE 1.0 0.0 X 0 0 0 ROBERT M WIGOD TRUSTEE 1.0 0.0 X 0 0 0 REV ROBERT WILLIAMS TRUSTEE 1.0 0.0 X 0 0 0 DAVID PARAGAMIAN TRUSTEE 1.0 0.0 X 0 0 0 TIMOTHY VILE TRUSTEE 1.0 0.0 X 0 0 0 STEPHEN TAN TRUSTEE 1.0 0.0 X 0 0 0 REV VARLYNA WRIGHT TRUSTEE 1.0 0.0 X 0 0 0 JOHN BIDDISCOMBE TRUSTEE 1.0 0.0 X 0 0 0 DAVID LONG TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM OLDSEY TRUSTEE 1.0 0.0 X 0 0 0 ANNE MICHAELSON TRUSTEE 1.0 0.0 X 0 0 0 MATTHEW PAULS TRUSTEE 1.0 0.0 X 0 0 0 JULIE WULF TRUSTEE 1.0 0.0 X 0 0 0 KEN ZIRK TRUSTEE 1.0 0.0 X 0 0 0 J GRAEME MCWHIRTER CHIEF FINANCIAL OFFICER 40.0 0.0 X 176258 0 53030 TODD PAIGE HEAD OF THE MIDDLE SCHOOL 40.0 0.0 X 110693 0 54119 TOM LIWOSZ FACULTY MEMBER 40.0 0.0 X 100952 0 40210 JOANNAH PROCKOP DIRECTOR THE LEARNING CENTER 40.0 0.0 X 101166 0 12068 CHARLIE BROWN DIRECTOR OF ADVANCEMENT 40.0 0.0 X 149811 0 25554 890818 0 301710 6 false true false SODEXO INC AFFILIATES 9801 WASHINGTON BLVD GAITHERSBURG MD 20878 DINING SERVICES 1077782 DEL VALLEY PROPERTIES 379 ROUTE 31 NORTH HOPEWELL NJ 08551 CONSTRUCTION 336804 VOITH MACTAVISH ARCHITECTS LLP 1616 WALNUT STREET 24TH FLOOR PHILADELPHIA PA 19103 ARCHITECTS 1235029 ADAMS-BICKEL ASSOCIATES LLC 341 N 10TH AVENUE SUITE 206 ROYERSFORD PA 194683807 CONSTRUCTION 8311632 TOTAL VIDEO PRODUCTS INC 414 SOUTHGATE CT MICKLETON NJ 08056 EQUIPMENT 255137 20 52947 2044438 405854 2097385 TUITION & FEES 20778203 20778203 20778203 2121835 2121835 0 0 207536 48563 158973 0 158973 68453 90520 2051769 1442067 279444 609702 -279444 330258 330258 47917 52947 47917 0 0 164822 125081 39741 39741 OTHER 154468 154468 YEARBOOK ADVERTISING 541800 6535 6535 161003 25687398 20932671 74988 2582354 X 0 4052650 4052650 226375 226375 0 2040884 1505618 435188 100078 0 7322929 5413817 1549257 359855 529857 390891 112984 25982 905603 671468 189503 44632 636570 469616 135739 31215 0 33638 33638 54900 54900 0 0 151602 151602 28324 28324 0 0 56107 56107 0 60759 44824 15935 0 1002316 739437 213729 49150 0 0 29943 29943 206340 152223 54117 0 2714479 2002548 578822 133109 201425 201425 DEVELOPMENT OFFICE 178997 0 0 178997 ADMISSIONS 61514 61514 0 0 HEALTH CENTER 10444 10444 0 0 HEADMASTER OFFICE 221246 163219 58027 0 3040726 2852564 185081 3081 23767628 19016900 3824629 926099 X 0 0 5212542 5027868 5029341 3534466 141360 186691 0 0 0 0 0 0 75736 82673 764917 707059 55260933 17526293 29577480 37734640 33502395 32254968 0 0 0 0 0 0 205383 196203 74509154 79724568 3464189 3874296 0 0 4285306 4611567 10513507 15972827 0 0 0 0 412363 398175 0 0 320371 351845 18995736 25208710 X 32060850 33959318 13007838 10240263 10444730 10316277 55513418 54515858 74509154 79724568 X 1919770 -2820830 9000 -105500 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 36007399 224519 -182682 1413230 34636006 35819985 782183 749694 1344463 36007399 29872301 1754564 5117979 924859 35819985 26850921 242656 3439158 660434 29872301 27969644 123766 -623443 619046 26850921 0.55700 0.29790 0.14510 false false 258677 258677 45417478 14472134 30945344 5891679 1877365 4014314 3693099 1176794 2516305 37734640 0 UBI TAX LIABILTIY 17000 SWAP TERMINATION LIABILITY 143873 LIABILITY INTEREST RATE SWAP 190972 351845 X 18867216 -2820830 28684 -4057464 -6849610 25716826 250016 -279444 -29428 25687398 19864776 19684 606505 626189 19238587 250016 4279025 4529041 23767628 SCHEDULE D, PART X, LINE 2 THE SCHOOL HAS ADOPTED THE APPLICATION OF ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE SCHOOL HAD NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2016. IN ADDITION, THE SCHOOL HAS NO INCOME TAX RELATED PENALTIES OR INTEREST FOR THE PERIODS IN QUESTION. THE SCHOOL FILES A TAX RETURN IN THE U.S. FEDERAL JURISDICTION. SCHEDULE D, PART XI, LINE 2D FINANCIAL AID GRANTS............................. (4,279,025) COST OF GOODS SOLD............................... 125,081 RENTAL EXPENSES.................................. 48,563 SPECIAL EVENTS EXPENSES.......................... 47,917 ---------------------------------------------------------------- TOTAL............................................ (4,057,464) SCHEDULE D, PART XII, LINE 2D COST OF GOODS SOLD................................ 125,081 RENTAL EXPENSES................................... 48,563 LOSS ON DISPOSAL OF ASSET......................... 279,444 SPECIAL EVENT EXPENSES............................ 47,917 BAD DEBT EXPENSE.................................. 105,500 ----------------------------------------------------------------- TOTAL............................................. 606,505 SCHEDULE D, PART XII, LINE 4B FINANCIAL AID..................................... 4,279,025 SCHEDULE D, PART XI, LINE 4B LOSS ON DISPOSAL OF ASSET.......... (279,444) true true true true true true true false false false false false false false false false false true PART 1, LINE 3: NONDISCRIMINATORY POLICY NOTICE THE SCHOOL STATES ITS NON-DISCRIMINATORY POLICY ON ITS WEBSITE, MARKETING MATERIALS USED BY THE ADMISSION OFFICE, AND PRINT ADVERTISEMENTS THROUGH THE NATIONAL ASSOCATION OF INDEPENDENT SCHOOLS. East Asia and the Pacific Fundraising 14036 14036 14036 FINANCIAL AID OUTSIDE U.S. East Asia and the Pacific 1 25500 N/A FMV FINANCIAL AID OUTSIDE U.S. South America 2 66800 N/A FMV FINANCIAL AID OUTSIDE U.S. Europe (Including Iceland and Greenland) 4 134075 N/A FMV false false false false false false AUCTION 95648 95648 47917 MISC EVENTS 5216 5216 0 100864 100864 47917 47917 52947 true FINANCIAL AID 154 4000750 FMV SEE EXPLANATION FOR PART I, LINE 2 THERE WERE 126 RECIPIENTS (119 U.S. PERSONS) OF FINANCIAL AID AND 28 RECIPIENTS OF TUITION REMISSION. TUITION REMISSION IS AWARDED ON A NEED BASIS AND COVER THE COST OF A DAY TUITION. FINANCIAL AID IS AWARDED ON A NEED BASIS USING INDUSTRY STANDARD FINANCIAL DISCLOSURES AND CALCULATIONS. X true true X X X false true false false false false false false false WILLIAM HAWKEY HEAD OF SCHOOL 236360 0 0 0 15578 0 0 0 116729 0 368667 0 0 0 J GRAEME MCWHIRTER CHIEF FINANCIAL OFFICER 175823 0 357 0 78 0 0 0 53030 0 229288 0 0 0 TODD PAIGE HEAD OF THE MIDDLE SCHOOL 110235 0 380 0 78 0 0 0 54119 0 164812 0 0 0 CHARLIE BROWN DIRECTOR OF ADVANCEMENT 149733 0 0 0 78 0 0 0 25554 0 175365 0 0 0 COMPENSATION QUESTIONS WILLIAM HAWKEY WAS PROVIDED A SUPPLEMENTAL PENSION IN 2015-2016. THE COST WAS $7,750. A NEW JERSEY ECONOMIC AUTHORITY 222045817 2014-06-17 7500000 INTEREST RATE SWAP AGREEMENTS false false false B PUBLIC FINANCE AUTHORITY 273866124 2014-07-07 10000000 CONSTRUCTION/CAPITAL IMPROVEMENTS false false false A 0 0 6620000 0 0 0 0 0 0 0 0 0 false false true true B 0 0 9860698 0 0 0 139302 0 0 0 0 0 false false true true A false false false false 0.02440 0.02440 0.04880 false false false true B false false false false 0 false false false true A false false false false true true CITIZEN'S BANK 5. false false true 0 false false false B false false false false true false 0 false 0 false false A true B true WILLIAM HAWKEY ASSOCIATE HEAD OF SCHOOL 32900 TUITION REMISSION TUITION REMISSION J GRAEME MCWHIRTER CHIEF FINANCIAL OFFICER 34600 TUITION REMISSION TUITION REMISSION TODD PAIGE HEAD OF THE MIDDLE SCHOOL 34600 TUITION REMISSION TUITION REMISSION MICHAEL JINGOLI TRUSTEE/INTEREST IN CO. 201000 CO. PROVIDED CONSTRUCTION MGMT false WILLIAM S HAWKEY SON OF HEADMASTER 29371 COMPENSATION AND BENEFITS false X 19 405854 FAIR VALUE false true false PART VI, SECTION B, LINE 12C THE SCHOOL REQUIRES ALL BOARD OF TRUSTEES, OFFICERS AND KEY EMPLOYEES TO SIGN ANNUAL CONFLICT OF INTEREST POLICIES. PART VI, SECTION B, LINE 15B THE HEAD OF SCHOOL HAS BEEN IDENTIFIED AS AN OFFICER. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES MEETS TO DECIDE COMPENSATION. MEMBERS OF THE COMMITTEE ARE INDEPENDENT. A COMMITTEE MEMBER PREPARES COMPARABLE DATA FROM TAX RETURNS (USING GUIDESTAR) AND NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (COLLECTED BY CFO). THIS MATERIAL IS REVIEWED BY THE EXECUTIVE COMMITTEE. THE BOARD OF TRUSTESS RATIFIES COMMITTEE'S FINDINGS. ALL OTHER COMPENSATION IS DETERMINED BY THE HEADMASTER. PART VI, SECTION B, LINE 11 FORM 990 PREPARED BY INDEPENDENT ACCOUNTANTS, REVIEWED BY FINANCE COMMITTEE AND PROVIDED TO INDIVIDUAL TRUSTEES EITHER BY EMAIL OR AT A BOARD MEETING PRIOR TO FILING. PART VI, SECTION C, LINE 19 THE SCHOOL'S FORM 990 IS AVAILABLE ON WWW.GUIDESTAR.ORG. NO OTHER DOCUMENTS ARE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 5 NET UNREALIZED GAINS ON INVESTMENTS FOR THE CURRENT FISCAL YEAR END INCLUDE THE FOLLOWING: UNREALIZED GAIN ON INVESTMENT ....................... (2,746,938) UNREALIZED LOSS ON SWAP AGREEMENT.................... (73,892) ---------------------------------------------------------------- TOTAL UNREALIZED GAIN ON INVESTMENTS................ (2,820,830) FORM 990, PART XI, LINE 6 THE ORGANIZATION RECEIVED THE FOLLOWING IN-KIND GIFTS IN THE CURRENT FISCAL YEAR: IN-KIND CONTRIBUTION REVENUE.......................... 28,684 IN-KIND EXPENSES...................................... (19,684) ---------------------------------------------------------------- TOTAL IN-KIND CONTRIBUTIONS RECEIVED.................. 9,000 FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS FOR THE CURRENT FISCAL YEAR END INCLUDE THE FOLLOWING: BAD DEBT EXPENSE...................................... 105,500 FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:ADMINISTRATIVE TOTAL EXPENSES:171674 PROGRAM SERVICES:MANAGEMENT AND GENERAL:171674 FUNDRAISING: FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:FOOD SERVICES TOTAL EXPENSES:1177375 PROGRAM SERVICES:1177375 MANAGEMENT AND GENERAL:FUNDRAISING: FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:ATHLETICS TOTAL EXPENSES:272861 PROGRAM SERVICES:272861 MANAGEMENT AND GENERAL:FUNDRAISING: FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:LIBRARY TOTAL EXPENSES:37998 PROGRAM SERVICES:37998 MANAGEMENT AND GENERAL:FUNDRAISING: FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:RESIDENTIAL LIFE TOTAL EXPENSES:68466 PROGRAM SERVICES:68466 MANAGEMENT AND GENERAL:FUNDRAISING: FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:INSTRUCTIONAL EXPENSES TOTAL EXPENSES:676176 PROGRAM SERVICES:676176 MANAGEMENT AND GENERAL:FUNDRAISING: FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:EQUIPMENT RENTAL & MAINTENANCE TOTAL EXPENSES:573331 PROGRAM SERVICES:573331 MANAGEMENT AND GENERAL:FUNDRAISING: FORM 990 PART IX LINE 24 - OTHER EXPENSES DESCRIPTION:PRINTING & PUBLICATIONS TOTAL EXPENSES:62845 PROGRAM SERVICES:46357 MANAGEMENT AND GENERAL:13407 FUNDRAISING:3081