2016-01-21T13:35:10-06:00 2015-06-30 541517420 WALL EINHORN & CHERNITZER PC 150 W MAIN ST SUITE 1200 NORFOLK VA 23510 990 2014-07-01 540806413 NORFOLK COLLEGIATE SCHOOL NORF 7575830919 7336 GRANBY STREET NORFOLK VA 23505 SCOTT KENNEDY PRESIDENT 7575830919 2016-01-15 1 SUSAN R EINHORN P00304274 7576254700 2016-01-15 2014 2016-04-25 22:37:26Z SCOTT KENNEDY 7336 GRANBY STREET NORFOLK VA 23505 15162991 0 X WWW.NORFOLKCOLLEGIATE.ORG X SCHOOL 1948 VA TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND. 40 40 199 80 0 0 1063768 1994391 10512386 10344097 511276 500146 128200 259065 12215630 13097699 1162754 1241165 0 0 5945186 6028062 0 0 224745 5340586 5390415 12448526 12659642 -232896 438057 31923528 31390243 12212671 12209247 19710857 19180996 TO EDUCATE A DIVERSE BODY OF STUDENTS TO THRIVE IN A COLLEGE SETTING AND BEYOND. 0 0 9146698 1241165 10344097 OPERATION OF A PRIVATE SCHOOL WITH AN APPROXIMATE ENROLLMENT OF 614 STUDENTS. 9146698 1 1 0 0 0 0 0 0 0 1 1 0 0 0 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 35 0 1 199 1 0 0 0 0 0 1 1 0 0 0 0 X 40 40 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X X NORFOLK COLLEGIATE SCHOOL 7575830919 7336 GRANBY STREET NORFOLK VA 235053492 STANLEY G BARR JR HONORARY TRUSTEE 2.00 X 0 0 0 MARK S BATZEL TRUSTEE 2.00 X 0 0 0 W TAYLOR FRANKLIN CHAIRMAN 2.00 X X 0 0 0 DR JOSEPH F BOUCHARD VICE PRESIDENT 2.00 X X 0 0 0 DAWN BRAY TRUSTEE 2.00 X 0 0 0 KATE BRODERICK TRUSTEE 2.00 X 0 0 0 BENJAMIN G COTTRELL V TRUSTEE 2.00 X 0 0 0 JEFFREY S CREEKMORE TREASURER 2.00 X X 0 0 0 ROBERT H DEFORD III TRUSTEE 2.00 X 0 0 0 JAMISSON S FOWLER TRUSTEE 2.00 X 0 0 0 HENRY U HARRIS III HONORARY TRUSTEE 2.00 X 0 0 0 E JAI ESSENMACHER TRUSTEE 2.00 X 0 0 0 HON STEPHEN E HERETICK TRUSTEE 2.00 X 0 0 0 KEVIN M LARKIN TRUSTEE 2.00 X 0 0 0 SUNSHINE M LEINBACH TRUSTEE 2.00 X 0 0 0 BETSY N MASON HONORARY TRUSTEE 2.00 X 0 0 0 THEODORE A MATHAS TRUSTEE 2.00 X 0 0 0 ROBERT W MCFARLAND SECRETARY 2.00 X X 0 0 0 RICHARD D ROBERTS HONORARY TRUSTEE 2.00 X 0 0 0 DR SCOTT A ROBERTSON TRUSTEE 2.00 X 0 0 0 DR BARBARA M SARRIS TRUSTEE 2.00 X 0 0 0 DR CAMDEN WOOD SELIG TRUSTEE 2.00 X 0 0 0 JEFFREY M SILVERMAN TRUSTEE 2.00 X 0 0 0 BROOK J SMITH TRUSTEE 2.00 X 0 0 0 ELIZABETH S SMITH TRUSTEE 2.00 X 0 0 0 DR RONALD A STINE TRUSTEE 2.00 X 0 0 0 JEFFREY A SWARTZ TRUSTEE 2.00 X 0 0 0 JAMES T VAIL TRUSTEE 2.00 X 0 0 0 JOHN P WRIGHT TRUSTEE 2.00 X 0 0 0 SHEPELLE WATKINS-WHITE TRUSTEE 2.00 X 0 0 0 ELISE WALTHALL TRUSTEE 2.00 X 0 0 0 FREDERICK V MARTIN HONORARY TRUSTEE 2.00 X 0 0 0 WILLIAM W KING HONORARY TRUSTEE 2.00 X 0 0 0 JOHN SAWYER TRUSTEE 2.00 X 0 0 0 CDR DUSTY RHODES TRUSTEE 2.00 X 0 0 0 THOMAS E MATHAS TRUSTEE 2.00 X 0 0 0 JILL H LAYNE TRUSTEE 2.00 X 0 0 0 LARRY FLORA TRUSTEE 2.00 X 0 0 0 ALISON CARLSMITH TRUSTEE 2.00 X 0 0 0 GARY D BONNWELL TRUSTEE 2.00 X 0 0 0 SCOTT G KENNEDY PRESIDENT 60.00 X 193388 0 0 193388 0 0 1 0 1 0 SAGE DINING SERVICES INC 222 BOSLEY AVE TOWSON MD 21204 FOOD SERVICE 645000 LACEY'S CLEAN 752 OLD FIELDS ARCH CHESAPEAKE VA 23320 CLEANING SERVICES 213000 CSC LEASING 6806 PARAGAN PLACE RICHMOND VA 23230 LEASING OF ASSETS 204000 TRANQUEST LLC 994 SCOTT STREET NORFOLK VA 23502 CHARTER BUS SERVICES 197000 GUARDUS SECURITY 3795 BONNEY ROAD VIRGINIA BEACH VA 23452 SECURITY SERVICE 125000 5 84014 137847 1772530 265949 1994391 TUITION 611710 9939070 9939070 AUXILIARY SERVICES 611710 293186 293186 STUDENT ACTIVITIES 611710 111841 111841 10344097 146799 146799 40207 3066 37141 37141 37141 2278396 1871341 53708 407055 -53708 353347 353347 269090 84014 137177 131913 131913 OTHER INCOME 900099 108355 108355 CHARITABLE REMAINDER TRUST 525920 -18344 -18344 90011 13097699 10344097 0 759211 1241165 1241165 223000 199000 24000 5078764 3298078 1582623 198063 284693 284693 441605 252149 182851 6605 35209 35209 793489 597911 192347 3231 105821 105821 81698 81698 309447 298983 10464 7535 6361 1174 252175 252175 873984 873984 82797 80153 2644 DINING SERVICES 594243 594243 FACULTY SCHOLARSHIPS 574353 574353 ATHLETIC DEPARTMENT 341510 341510 EQUIPMENT RENTAL & MAIN 184017 184017 1154137 933330 205135 15672 12659642 9146698 3288199 224745 94426 27131 700434 740400 2783671 2435155 1409676 1386709 24007 30379 31068 33526 29446938 9888943 20068336 19557995 6174675 6481180 637235 697768 31923528 31390243 358780 210831 3134153 3186618 7934505 8328723 677233 483075 108000 0 12212671 12209247 X 14369231 13569122 2327266 2286142 3014360 3325732 19710857 19180996 31923528 31390243 X 438057 -92626 -875292 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4185250 471130 -211509 401919 4042952 3519458 264087 414764 13059 4185250 3653261 21791 161893 317487 3519458 3525477 58463 69321 3653261 3102377 4996 418104 3525477 0.81390 0.18610 0 0 2605017 2605017 24765240 8322363 16442877 2076681 1566580 510101 19557995 X 11028859 -92626 -735049 -827675 11856534 1241165 1241165 13097699 11558720 140243 140243 11418477 1241165 1241165 12659642 PART V, LINE 4: ENDOWMENTS ARE MAINTAINED FOR VARIOUS REASONS SUCH AS STUDENT SCHOLARSHIPS, FINANCIAL ASSISTANCE, AND FACULTY SALARIES. THE SCHOOL'S ENDOWMENT CONSISTS OF APPROXIMATELY 12 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT INCLUDES DONOR-RESTRICTED ENDOWMENT FUNDS. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT ON NET INCOME DERVIED FROM UNRELATED BUSINESS ACTIVITIES. INTERNAL REVENUE CODE SECTION 513(A) DEFINES AN UNRELATED TRADE OR BUSINESS OF AN EXEMPT ORGANIZATION AS ANY TRADE OR BUSINESS WHICH IS NOT SUBSTANTIALLY RELATED TO THE EXERCISE OR PERFORMANCE OF ITS EXEMPT PURPOSE. CURRENTLY, THE SCHOOL HAS NO OBLIGATION FOR ANY UNRELATED BUSINESS INCOME TAX. THE SCHOOL BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS; HOWEVER, ANY PENALTIES AND INTEREST INCURRED AS A RESULT OF UNCERTAIN TAX POSITIONS WOULD BE RECORDED IN GENERAL AND ADMINISTRATIVE EXPENSES. THE SCHOOL'S FEDERAL RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) FOR THE YEARS ENDED PRIOR TO JUNE 30, 2012 IS GENERALLY NOT SUBJECT TO EXAMINATION BY THE IRS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 137,177. CHANGE IN INTEREST IN NET ASSETS OF RECIPIENT ORGANIZATION 19,410. RENTAL EXPENSES 3,066. ART INVENTORY IMPAIRMENT -144,500. UNCOLLECTIBLE CONTRIBUTIONS -750,202. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,241,165. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 137,177. RENTAL EXPENSES 3,066. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,241,165. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 NEWSPAPER ADVERTISEMENT AUCTION 134723 24262 110461 5120 1696 9042 FALL FAIR 37599 16109 21490 1442 12422 3 180782 43643 137139 1413 106042 353104 84014 269090 5120 4551 127506 137177 131913 1 NEED BASED FINANCIAL AID FOR TUITION 160 1241165 PART I, LINE 2: THE SCHOOL HAS A FINANCIAL AID POLICY THAT IS USED TO MONITOR THE USE OF FINANCIAL AID. X X X X 0 0 0 0 0 0 0 0 0 SCOTT G KENNEDY PRESIDENT 193388 0 0 0 0 0 0 0 0 0 193388 0 0 0 A NORFOLK AIRPORT AUTHORITY 2012A 546001465 2012-06-27 3990750 BUILDINGS AND STRUCTURES 0 1 0 B NORFOLK AIRPORT AUTHORITY 2012B 546001465 2012-06-27 1330250 BUILDINGS AND STRUCTURES 0 1 0 C NORFOLK AIRPORT AUTHORITY 2013 546001465 2013-07-01 2916000 REFUNDING THE REFUNDED BOND AND PAYING ISSUANCE COSTS 0 1 0 D NORFOLK AIRPORT AUTHORITY 2015B 546001465 2015-04-30 592000 TO CONSTRUCT TWO ARTIFICIAL TURF ATHLETIC FIELDS AND INSTALL LIGHTING 0 1 0 A 307651 3990750 52313 3938437 0 0 1 1 B 102551 1330250 52312 1277938 0 0 1 1 C 222399 2916000 58320 2857680 0 0 1 1 D 590190 590190 0 0 1 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 A 0 0 0 0 1 0 0 0 0 B 0 0 0 0 1 0 0 0 0 C 0 0 0 0 1 0 0 0 0 D 0 0 0 0 1 0 0 0 0 A 0 B 0 C 0 A NORFOLK AIRPORT AUTHORITY 2015A 546001465 2015-04-30 2700000 TO CONSTRUCT TWO ARTIFICIAL TURF ATHLETIC FIELDS AND INSTALL LIGHTING 0 1 0 A 134134 35000 99134 0 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 0 0 0 0 X 11 189830 FAIR MARKET VALUE X MISCELLANEOUS 15 76120 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE SCHOOL HAD BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THERE IS A COMMITTEE OF TRUSTEES THAT OVERSEES BOARD MEMBERSHIP. THE NEEDS OF THE BOARD/SCHOOL ARE ALWAYS REVIEWED FOR ITEMS SUCH AS GEOGRAPHIC/WORK/GENDER/DIVERSITY. THIS COMMITTEE SOLICITS MEMBERS FROM WITHIN THE COMMUNITY (OTHER BOARD, STAFF). THE COMMITTEE REVIEWS THEIR ATTRIBUTES AS BEING A PART OF THE BOARD. THEY ARE ALSO INTERVIEWED BY THE BOARD CHAIR AND COMMITTEE ON TRUSTEE CHAIR PRIOR TO BEING PRESENTED TO BOARD FOR VOTING APPROVAL. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD NORMALLY WORKS THROUGH A COMMITTEE STRUCTURE WHICH INCLUDES ADVANCEMENT, BUILDING & GROUNDS, FINANCE, STUDENT LIFE, AND GOVERNANCE. INITIALLY MOST ITEMS ARE DISCUSSED AND BROUGHT TO THE COMMITTEE LEVEL FOR BACKGROUND, RESEARCH, AND REVIEW. AREAS THAT REQUIRE APPROVAL ARE VOTED ON BY COMMITTEE, TAKEN TO THE EXECUTIVE COMMITTEE FOR DISCUSSION/VOTE, AND THEN TAKEN TO THE FULL BOARD FOR DISCUSSION/VOTE. FORM 990, PART VI, SECTION B, LINE 11 THE 990 IS REVIEWED BY THE AUDIT COMMITTEE PRIOR TO ITS FILING. IT IS ALSO AVAILABLE TO THE BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, BOARD MEMBERS ARE REQUIRED TO SUBMIT CONFLICT OF INTEREST STATEMENTS (REFLECTING NONE OR STATED CONFLICTS) TO THE GOVERNANCE COMMITTEE CHAIR. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR ADMINISTRATIVE POSITIONS IS BENCHMARKED USING SEVEN CRITERIA FIELDS OF SALARY BY POSITION FROM NATIONAL ASSOCIATION OF INDEPENDENT SCHOOL AND VIRGINIA ASSOCIATION OF INDEPENDENT SCHOOLS. FOR ADMINISTRATIVE POSITIONS, THE MEDIAN OF THAT DATA IS USED AS A BENCHMARK FOR SALARY DETERMINATION WITHIN THE BUDGET GUIDELINES AND OVERALL STAFF AND FACULTY COST OF LIVING GUIDELINES FOR EACH FISCAL YEAR. HEADMASTER COMPENSATION ALSO USED THE BENCHMARKING CRITERIA AND IS REVIEWED AND SET BY A COMPENSATION COMMITTEE OF BOARD MEMBERS. FORM 990, PART VI, SECTION C, LINE 19 NORFOLK COLLEGIATE SCHOOL PROVIDES AND REVIEWS GOVERNING DOCUMENTS AND ITS CONFLICT OF INTEREST POLICY WITH THE BOARD OF TRUSTEES MEMBERS ANNUALLY. THE ANNUAL FINANCIAL STATEMETNS ARE PRESENTED TO THE BOARD OF TRUSTEES AUDIT COMMITTEE, WHO SUBSEQUENTLY PRESENTS THE FINANCIALS TO THE FINANCE COMMITTEE AND THE EXECUTIVE BOARD OF THE TRUSTEES. THE ANNUAL FINANCIAL STATEMENTS ARE ALSO AVAILABLE FOR REVIEW BY ALL MEMBERS OF THE BOARD OF TRUSTEES UPON PRESENTATION TO THE AFOREMENTIONED COMMITTEES. ALL OF THESE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN INTEREST IN NET ASSETS OF RECIPIENT ORGANIZATION 19,410. UNCOLLECTIBLE CONTRIBUTIONS -750,202. ART INVENTORY IMPAIRMENT -144,500. FORM 990, PART XII, LINE 2C: FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT. THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE YEAR. NORFOLK COLLEGIATE EDUCATIONAL FOUNDATION INC 7336 GRANBY STREET NORFOLK VA 23505 541893594 PROVIDE GRANTS TO NORFOLK COLLEGIATE SCHOOL FOR NEED-BASED FINANCIAL AID. VA 501(C)(3) 509(A) N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 NORFOLK COLLEGIATE EDUCATIONAL FOUNDATION C 137847 CASH