2017-05-03T11:00:41-05:00 2016-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1650 MARKET ST SUITE 4500 PHILADELPHIA PA 19103 990 2015-07-01 231178880 VALLEY FORGE MILITARY ACADEMY FOUNDATION VALL 6109891200 1001 EAGLE ROAD WAYNE PA 190873695 VINCENT J VUONO CHIEF FINANCIAL OFFICER 6109891200 2017-05-03 1 JULIUS C GREEN CPA P00350393 2159720701 2015 2017-02-10 21:41:12Z STACEY R SAUCHUK PHD 1001 EAGLE ROAD WAYNE PA 190873695 33964348 0 X WWW.VFMAC.EDU X 1928 PA EDUCATIONAL INSTITUTION FOCUSED ON BUILDING LEADERSHIP THROUGH A MILITARY ENVIRONMENT. 17 17 379 50 425609 0 2553643 1811915 28390329 28862939 323035 213501 120214 186293 31387221 31074648 9090876 9890787 0 0 9933405 10057322 0 0 673535 11221399 11426952 30245680 31375061 1141541 -300413 43724814 43945120 12085389 12355456 31639425 31589664 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 25421827 9890787 28637977 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 568 STUDENTS DURING THE YEAR. 25421827 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 1 227 0 1 379 1 1 1 0 0 0 0 1 1 0 0 0 0 X 17 17 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 CHAIRMAN 1.00 X 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 BOARD MEMBER 1.00 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 STACEY R SAUCHUK PHD PRESIDENT 40.00 X 293562 0 32829 VINCENT J VUONO CPA TREASURER/CHIEF FINANCIAL OFFICER 40.00 X 196923 0 13512 DOUGLAS HASBROUCK VP DEVELOPMENT 40.00 X 181731 0 15109 JAMIESON BILELLA VP MARKETING & ADMISSIONS 40.00 X 171346 0 6704 WILLIAM GALLAGHER DEAN OF COLLEGE 40.00 X 152592 0 0 BRYAN GEILING DIRECTOR 40.00 X 101827 0 15329 1097981 0 83483 6 0 1 0 SODEXO INC PO BOX 905374 CHARLOTTE NC 28290 FOOD VENDING 2414141 MAIN LINE JANITORIAL SERVICE INC 4438 LOBELLA COURT CHESTER SPRINGS PA 19425 CUSTODIAL 849998 SC&A CONSTRUCTION INC PO BOX 7202 WILMINGTON DE 19803 CONSTRUCTION SERVICES 220147 UNITEX 1010 S CHESTNUT ST DOWNINGTOWN PA 19335 CONSTRUCTION SERVICES 207000 MCS MANAGEMENT SERVICES 1601 MARKET STREET STE 800 PHILADELPHIA PA 19103 MAIL/COPIER 203792 10 50516 14790 1746609 26123 1811915 TUITION AND FEES 611600 27686256 27686256 SUMMER CAMP PROGRAM 611600 706559 481597 224962 HOUSING RENTALS 611600 389900 389900 FINANCIAL AID 611600 80224 80224 28862939 385712 385712 128179 86560 41619 41619 41619 2533911 24450 2730572 0 -196661 24450 -172211 -172211 42054 50516 72568 -30514 -30514 CAVALRY 713990 159028 159028 TUITION REFUND 900099 15920 15920 OTHER ADMINISTRATIVE INCOME 900099 240 240 175188 31074648 28637977 425609 199147 9890787 9890787 922829 922829 7290905 5791539 1100460 398906 52890 28250 21015 3625 1090292 811231 210137 68924 700406 415031 259991 25384 133870 133870 87150 87150 95120 95120 1369922 827159 542763 544143 48912 495231 1476160 1346529 116593 13038 72981 72981 1874370 1257190 515446 101734 1848105 1790030 49615 8460 354144 306807 39278 8059 1441604 1248909 159888 32807 UNIFORMS 650734 650734 STUDENT PROGRAMS 446329 446329 BAD DEBTS 438874 438874 PLANT OPERATIONS 366888 366888 226558 195502 18458 12598 31375061 25421827 5279699 673535 1500 1500 750997 1944344 8614 67001 194506 88137 707071 650921 51492036 32145654 19852668 19346382 12922079 15710346 50151 49443 9237228 6087046 43724814 43945120 1833902 1574854 2577833 3340074 7433729 7194896 30347 91126 209578 154506 12085389 12355456 X 10196641 10122575 9655482 9110501 11787302 12356588 31639425 31589664 43724814 43945120 X -300413 -267308 517960 X 0 1 X 1 1 1 X 3391910 1851834 2887985 2553643 1811915 12497287 3391910 1851834 2887985 2553643 1811915 12497287 333234 12164053 658549 433939 487848 478784 385712 2444832 356 6883 40693 22928 16160 87020 15029139 145148319 0.80940 0.80440 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER ADMINISTRATIVE INCOME - 2011 AMOUNT: $ 356. 2012 AMOUNT: $ 6,883. 2013 AMOUNT: $ 40,693. 2014 AMOUNT: $ 22,928. 2015 AMOUNT: $ 240. TUITION REFUND - 2015 AMOUNT: $ 15,920. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9986083 180250 -48716 381900 9735717 10156202 115374 79607 365100 9986083 9379728 34783 1094491 352800 10156202 8688966 93854 933608 336700 9379728 9061504 73056 -87569 323300 34725 8688966 0.00000 0.76180 0.23820 1 0 2571602 2571602 42415568 27042870 15372698 6473386 5102784 1370602 31480 31480 19346382 INTEREST IN PERPETUAL TRUST 4541810 INTEREST IN CHARITABLE REMAINDER TRUSTS 1545236 6087046 X 21527694 -267308 101741 -9467947 -9633514 31161208 -86560 -86560 31074648 21577455 101741 86560 188301 21389154 9985907 9985907 31375061 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, 2016. 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, 2016, THE FOUNDATION HAS NO MATERIAL UNRECOGNIZED TAX BENEFITS OR ACCRUED INTEREST AND PENALTIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -9,890,787. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 128,924. CHANGE IN VALUE OF PERPETUAL TRUSTS 389,036. INVESTMENT FEES -95,120. PART XI, LINE 4B - OTHER ADJUSTMENTS: FACILITIES RENTAL EXPENSES -86,560. PART XII, LINE 2D - OTHER ADJUSTMENTS: FACILITIES RENTAL EXPENSES 86,560. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 9,890,787. INVESTMENT FEES 95,120. 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. HOMECOMING 31274 17201 14073 16544 2817 GOLF OUTING 14692 8815 5877 13062 1680 250 1 46604 24500 22104 13550 5768 18897 92570 50516 42054 13062 31774 8585 19147 72568 -30514 1 VARIOUS SCHOLARSHIPS AND AWARDS 565 9890787 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 293562 0 0 0 0 0 26125 0 6704 0 326391 0 0 0 VINCENT J VUONO CPA TREASURER/CHIEF FINANCIAL OFFICER 196923 0 0 0 0 0 0 0 13512 0 210435 0 0 0 DOUGLAS HASBROUCK VP DEVELOPMENT 181731 0 0 0 0 0 0 0 15109 0 196840 0 0 0 JAMIESON BILELLA VP MARKETING & ADMISSIONS 171346 0 0 0 0 0 0 0 6704 0 178050 0 0 0 WILLIAM GALLAGHER DEAN OF COLLEGE 152592 0 0 0 0 0 0 0 0 0 152592 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 PRESIDENT STACEY SAUCHUK PARTICIPATES IN A NON-QUALIFIED PLAN. THE AMOUNT CONTRIBUTED TO THE PLAN FOR THE YEAR WAS $26,125. A NORTH PENN HEALTH HOSPITAL AND EDUCATION AUTHORITY 232130191 2013-09-03 8000000 REFINANCING AND CAPITAL IMPROVEMENTS 0 0 0 A 663571 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 AUCTION ITEMS 21 13221 COST X TRAVEL/LODGING FOR RIFLE CLUB 9 10114 COST X CATERING COSTS DONATION 1 2788 COST 0 0 1 0 PART I, COLUMN (B): THE NUMBERS IN COLUMN B REPRESENT THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION B, LINE 11 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 128,924. CHANGE IN VALUE OF PERPETUAL TRUSTS 389,036. FORM 990, PAGE 6, PART VI, LINE 14 THE ORGANIZATION HAS AN ORAL POLICY CONCERNING DOCUMENT RETENTION AND DESTRUCTION AND IS CURRENTLY IN THE PROCESS OF FORMALIZING THE PROCEDURE WITH A WRITTEN POLICY. (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