2016-03-25T14:41:37-05:00 2015-05-31 560574444 CHERRY BEKAERT LLP 1029 GREENE STREET AUGUSTA GA 30901 990 2014-06-01 580625584 WOODWARD ACADEMY INC WOOD 4047654023 1662 RUGBY AVENUE COLLEGE PARK GA 303372199 KELLY SANDERSON VICE PRESIDENT 4047654023 2016-03-08 1 ELIZABETH MORRISON P00231389 7067243557 2014 2016-08-17 19:52:53Z KELLY SANDERSON 1662 RUGBY AVENUE COLLEGE PARK GA 30337 98650643 0 X WWW.WOODWARD.EDU X 1900 GA WOODWARD ACADEMY PROVIDES COLLEGE PREPARATORY EDUCATION FOR STUDENTS IN PRE-K THROUGH GRADE 12 33 33 942 33 -153269 -153269 2887917 3279817 59389454 60818295 7381487 6710338 420467 -42355 70079325 70766095 0 0 0 0 42150314 44083698 0 0 1990071 23135605 23643366 65285919 67727064 4793406 3039031 296382116 294543292 122123755 120703658 174258361 173839634 X WOODWARD ACADEMY COMBINES THE PROUD TRADITIONS OF ATLANTA'S OLDEST COLLEGE-PREPARATORY SCHOOL WITH AN INNOVATIVE, CHALLENGING AND WELL-ROUNDED EDUCATIONAL EXPERIENCE. IN A BROADLY DIVERSE AND CARING COMMUNITY, WOODWARD EMBRACES THE UNIQUENESS OF EACH INDIVIDUAL. GUIDED BY OUR CORE VALUES OF EXCELLENCE, CHARACTER AND OPPORTUNITY, WE CHAMPION STUDENT SUCCESS. 0 0 58949124 60910253 PROVIDED COLLEGE PREPARATORY EDUCATION FOR STUDENTS IN PRESCHOOL THROUGH GRADE TWELVE (APPROXIMATELY 2,700 STUDENTS) 58949124 1 1 0 0 0 0 1 0 0 1 1 1 0 0 1 1 0 1 1 0 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 1 0 1 1 1 1 0 0 0 0 1 0 0 0 1 207 0 1 942 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 33 33 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 GA X LOUISE MANN 4047654023 1662 RUGBY AVENUE COLLEGE PARK GA 303372119 MR BEN F JOHNSON III CHAIRMAN 2.00 X 0 0 0 MR ROBERT E BOWERS VICE CHAIRMAN 2.00 X 0 0 0 MR J RUSSELL WELCH VICE-CHAIRMAN 2.00 X 0 0 0 MS MADELYN R ADAMS BOARD MEMBER 1.00 X 0 0 0 MR GERALD R BENJAMIN BOARD MEMBER 1.00 X 0 0 0 MR RONALD M BRILL BOARD MEMBER 1.00 X 0 0 0 MR CHRIS MICHAEL CARLOS BOARD MEMBER 1.00 X 0 0 0 MR CLARENCE DAVIS BOARD MEMBER 1.00 X 0 0 0 MR A ADAIR DICKERSON JR BOARD MEMBER 1.00 X 0 0 0 MR MICHAEL S DRUCKER BOARD MEMBER 1.00 X 0 0 0 DR XAVIER A DURALDE BOARD MEMBER 1.00 X 0 0 0 DR NANCY H GALLUPS BOARD MEMBER 1.00 X 0 0 0 DR JAMES F JONES JR BOARD MEMBER 1.00 X 0 0 0 MR IAN LLOYD-JONES BOARD MEMBER 1.00 X 0 0 0 MR GENE W MILNER JR BOARD MEMBER 1.00 X 0 0 0 MS MARY S MOORE BOARD MEMBER 1.00 X 0 0 0 DR CARLOS S MORENO BOARD MEMBER 1.00 X 0 0 0 MR GEORGE S MORGAN SR BOARD MEMBER 1.00 X 0 0 0 MRS BELINDA M J MORRIS BOARD MEMBER 1.00 X 0 0 0 MRS MARIE L NYGREN BOARD MEMBER 1.00 X 0 0 0 MR TIM A O'BRIEN BOARD MEMBER 1.00 X 0 0 0 MRS VICKI R PALMER BOARD MEMBER 1.00 X 0 0 0 DR DEEPAK RAGHAVEN BOARD MEMBER 1.00 X 0 0 0 MR JOHN D RANDOLPH BOARD MEMBER 1.00 X 0 0 0 MRS PAULA REYNOLDS BOARD MEMBER 1.00 X 0 0 0 MR STEPHEN E ROBERTS BOARD MEMBER 1.00 X 0 0 0 MR MITESH SHAH BOARD MEMBER 1.00 X 0 0 0 MR SHI SHAILENDRA BOARD MEMBER 1.00 X 0 0 0 MR SHANNON A SULLIVAN BOARD MEMBER 1.00 X 0 0 0 MR JAMES E SUTHERLAND BOARD MEMBER 1.00 X 0 0 0 MR LARRY D THOMPSON BOARD MEMBER 1.00 X 0 0 0 MR STEPHEN R HENNESSY BOARD MEMBER 1.00 X 0 0 0 MRS JO CRANFORD HODGES BOARD MEMBER 1.00 X 0 0 0 DR F STUART GULLEY PRESIDENT 39.00 1.00 X 501835 0 80871 MS KELLY SANDERSON VICE PRESIDENT/TREASURER 25.00 15.00 X 194370 0 31553 MR ROBERT HAWKS VICE PRESIDENT 40.00 X 257171 0 51872 MS REBECCA ECKSTEIN VICE PRESIDENT 40.00 X 194518 0 22922 MR CHRIS M FREER VICE PRESIDENT 40.00 X 199315 0 56628 MS MARCIA SPILLER VICE PRESIDENT 40.00 X 243382 0 79548 MR LEE CONNER ADMINISTRATOR 40.00 X 156159 0 20941 MR EDWIN NOTESTINE ADMINISTRATOR 40.00 X 164713 0 17975 MR DANA PHILLIPS ADMINISTRATOR 40.00 X 129425 0 33937 MS ANNIE SMITH ADMINISTRATOR 40.00 X 136845 0 14298 MS TONIA R WEBB ADMINISTRATOR 40.00 X 129389 0 20730 2307122 0 431275 21 0 1 0 JE DUNN CONSTRUCTION COMPANY 2555 CUMBERLAND PKWY SE ATLANTA GA 30339 CONSTRUCTION 16902082 CARROLL DANIEL CONSTRUCTION CO 921 ATHENS STREET GAINESVILLE GA 30501 CONSTRUCTION 1372507 MARK PRODUCTS OF GEORGIA 125 KILRAN CT ROSWELL GA 30076 MILLWORK AND CASEWORK INSTALLATION 633323 JAMES WILLIAMS DBA DESIGNED INSTALLATI 215 STONE LEA DRIVE OXFORD GA 30054 CONSTRUCTION 456205 PERKINS WILL INC 1315 PEACHTREE ST NE ATLANTA GA 30309 ARCHITECT SERVICES 286865 9 3279817 250425 3279817 TUITION AND FEES 900099 58380443 58380443 AUXILIARY ACTIVITIES 900099 2437852 2437852 60818295 2659247 2659247 493689 619002 -125313 -125313 -153269 27956 31307637 9000 27265546 0 4042091 9000 4051091 4051091 MISC INCOME 900099 82958 82958 82958 70766095 60901253 -153269 6738294 1680556 1391240 289316 33386166 30501424 2088575 796167 1575763 1431038 110832 33893 4411068 4048515 264362 98191 3030145 2640738 296818 92589 257813 257813 80070 80070 198417 198417 48610 48610 1052578 1050370 2208 595279 595279 1781885 1781885 82650 82650 1100338 1100338 5710544 5710544 401057 401057 EDUCATIONAL PROGRAM EXP 3973723 3973723 EQUIPMENT RENTAL & MAIN 3305074 3305074 AUXILIARY PROGRAMS EXPE 2298764 2298764 DINING EXPENSES 1561802 1561802 1194762 517055 677707 67727064 58949124 6787869 1990071 17525724 17666277 8844138 1672706 739547 570821 121097 101666 179173 191990 595945 806402 207170028 61220057 120654278 145949971 84632083 86229757 39897544 40476397 23192587 877305 296382116 294543292 12636479 8404442 8835076 9274008 83000000 83000000 7312500 6937500 10339700 13087708 122123755 120703658 X 150942012 156126774 12672445 5849609 10643904 11863251 174258361 173839634 296382116 294543292 X 3039031 1725820 -5183578 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 3 1.16 3 0 0 1 1 220.00 10000 15147273 1220099 1157852 743688 71957 16709579 14040100 57767 1829675 710315 69954 15147273 12645801 89922 2026262 656588 65297 14040100 13585809 168102 -415291 629538 63281 12645801 10776637 610890 2895180 618215 78683 13585809 0.71000 0.29000 0 0 2695449 23565725 26261174 1994565 162722061 49818415 114898211 16155728 11401642 4754086 36500 36500 145949971 CASH SURRENDER LIFE INSURANCE 346745 F ASSETS HELD IN TRUST 182223 F KING STREET CAPITAL - CLASS S SERIES 4 (24.78 SHS) 34 F KING STREET CAPITAL - CLASS S SERIES 5 (60.98 SHS) 24 F KING STREET CAPITAL - CLASS S SERIES 18 (44.33 SHS) 5490 F KING STREET CAPITAL - CLASS S SERIES 13 (88.38 SHS) 6866 F LIGHTHOUSE DIVERSIFIED - CLASS A SHARES (2171.45 SHS) 4739517 F BAY RESOURCE - CLASS D-40 SHARES (598.30 SHS) 6892795 F KING STREET CAPITAL - CLASS S SERIES 20 (83.31 SHS) 10934 F KING STREET CAPITAL - CLASS S SERIES 14 (7.38 SHS) 1448 F KING STREET CAPITAL - CLASS S SERIES 32 (56.44 SHS) 6827 F COCA-COLA (490520 SHS) 20091699 F KING STREET CAPITAL - CLASS S SERIES 56 (120.97 SHS) 13092 F KING STREET CAPITAL - CLASS S SERIES 60 (1169.46 SHS) 124479 F KING STREET CAPITAL - CLASS A SERIES 1 (26583.81 SHS) 4424939 F BREVAN HOWARD ASIA FUND - #1 (5570.91 SH) 1369769 F KING STREET CAPITAL - CLASS S SERIES 53 (.64 SHS) 90 F KING STREET CAPITAL - CLASS S SERIES 28 (3.02 SHS) 585 F VISIUM GLOBAL OFFSHORE FUND, LTD - CLASS A/ MAY 01, 2010 (1300.76 SHS) 2125692 F KING STREET CAPITAL - CLASS S SERIES 65 (110.87 SHS) 7676 F KING STREET CAPITAL - CLASS S SERIES 70 (151.84 SHS) 16449 F KING STREET CAPITAL - CLASS S SERIES 75 (51.40 SHS) 3674 F KING STREET CAPITAL - CLASS S SERIES 80 (979.38 SHS) 97057 F KING STREET CAPITAL - CLASS S SERIES 85 (83.68 SHS) 8293 F 40476397 ASSET RETIREMENT OBLIGATION 96893 SWAP INTEREST AGREEMENTS 12949477 PLAN 457(B) LIABILITY 4381 OTHER LIABILITIES 36957 13087708 X 72462132 1725820 4694537 6420357 66041775 198417 4525903 4724320 70766095 72583220 6859573 6859573 65723647 198417 1805000 2003417 67727064 PART II, LINE 9: THERE IS NO SPECIAL ACCOUNTING FOR THE SCHOOL'S CONSERVATION EASEMENTS. TWO HISTORICAL STRUCTURES ARE USED IN THE NORMAL OPERATIONS OF THE SCHOOL AS OFFICES. THE THIRD STRUCTURE IS THE CEREMONIAL FRONT GATE OF THE SCHOOL. THE MONITORING, INSPECTING AND ENFORCING OF EASEMENTS IS PART OF THE NORMAL HOUSEKEEPING AND MAINTENANCE ACTIVITIES OF THE SCHOOL'S FACILITIES DEPARTMENT. THE HISTORICAL CHARACTER OF THE STRUCTURES IS MAINTAINED WHEN REPAIRS AND MAINTENANCE ARE MADE. THERE IS AN ENDOWED FUND FOR THE MAINTENANCE OF ONE OF THE BUILDINGS. AN AMOUNT EQUAL TO 5% OF THE MARKET VALUE OF THE FUND IS UTILIZED EACH YEAR TO PARTIALLY OFFSET THE COSTS OF MAINTAINING THIS BUILDING. PART V, LINE 4: THE SCHOOL'S ENDOWMENT FUNDS ARE INTENDED FOR USE IN PROVIDING FINANCIAL AID TO WOODWARD ACADEMY STUDENTS, AWARDS TO OUTSTANDING WOODWARD ACADEMY STUDENTS, FUNDS FOR CURRICULUM ENRICHMENT AND ENHANCEMENT IN FACULTY SALARIES AND MAINTENANCE OF THE ALUMNI CENTER. PART X, LINE 2: INCOME TAXES - THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"). IT IS MANAGEMENT'S OPINION THAT UNRELATED BUSINESS ACTIVITIES UNDERTAKEN BY THE SCHOOL WHICH COULD GENERATE UNRELATED BUSINESS INCOME TAX RESULTED IN A NET LOSS FOR THE PERIOD UNDER AUDIT, AND ACCORDINGLY, NO PROVISION FOR FEDERAL INCOME TAXES HAS BEEN MADE. MANAGEMENT HAS EVALUATED THE EFFECT OF THE GUIDANCE PROVIDED BY GAAP ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES AND BELIEVES THAT THE SCHOOL CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AT MAY 31, 2015. MANAGEMENT HAS EVALUATED ALL OTHER TAX POSITIONS THAT COULD HAVE A SIGNIFICANT EFFECT ON THE CONSOLIDATED FINANCIAL STATEMENTS AND DETERMINED THE SCHOOL HAD NO UNCERTAIN INCOME TAX POSITIONS AT MAY 31, 2015. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE REPORTED ON STUDENT TRANSPORT INC 58-1806042 4,161,414. RENT EXPENSE NETTED AGAINST RENTAL INCOME 524,123. GAIN ON SALE OF ASSETS RECORDED UNDER EXPENSE 9,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: INTERCOMPANY TRANSACTION 1,805,000. DECREASE IN VALUE OF SPLIT INTEREST AGREEMENT 9,852. UNREALIZED LOSS ON SWAPS 2,711,051. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSE REPORTED ON STUDENT TRANSPORT INC 58-1806042 3,863,775. UNREALIZED GAIN ON INTERST RATE SWAP NETTED AGAINST INTEREST EXPENSE 2,462,675. RENTAL EXPENSES NETTED AGAINST RENTAL INCOME 524,123. GAIN ON SALE OF ASSETS RECORDED UNDER EXPENSE 9,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTERCOMPANY TRANSFER 1,805,000. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE APPLICATION FOR ADMISSION AND ALL THE SCHOOL'S ADVERTISING TO SOLICIT POTENTIAL STUDENTS STATES THAT THE SCHOOL HAS A NONDISCRIMINATORY POLICY OF ADMISSION. THE SCHOOL'S ADMISSIONS WEBSITE STATES THAT THE SCHOOL HAS A NONDISCRIMINATORY POLICY. 0 CENTRAL AMERICA & CARIBBEAN 0 0 INVESTMENTS 19855730 0 0 0 0 0 0 19855730 0 19855730 SUB-SAHARAN AFRICA EDUCATION 10000 WIRE TRANSFER BOOK 1 0 0 1 1 0 0 FORM 990, SCHEDULE F, PART IV, QUESTION #3 THE ORGANIZATION HAD AN OWNERSHIP IN CERTAIN FOREIGN CORPORATIONS (INVESTMENTS) DURING THE TAX YEAR, THE INVESTMENT AMOUNT WAS NOT HIGH ENOUGH TO RENDER THE FILING OF FORM 5471. FORM 990, SCHEDULE F, PART IV, QUESTION #4 THE ORGANIZATION IS AN INVESTOR IN ONE OR MORE "PASSIVE FOREIGN INVESTMENT COMPANIES" ("PFICS"). THE ORGANIZATION DID NOT RECEIVE ANY TAXABLE DISTRIBUTIONS FROM ANY OF THE PFICS DURING FISCAL YEAR ENDED 5/31/2015. FORM 8621 IS NOT BEING FILED PURSUANT TO IRS GUIDANCE SET FORTH IN REG. SEC. 1.1291-1(E)." X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 DR F STUART GULLEY PRESIDENT 396964 0 0 0 104871 0 56600 0 24271 0 582706 0 0 0 MS KELLY SANDERSON VICE PRESIDENT/TREASURER 194370 0 0 0 0 0 12248 0 19305 0 225923 0 0 0 MR ROBERT HAWKS VICE PRESIDENT 253755 0 0 0 3416 0 35600 0 16272 0 309043 0 0 0 MS REBECCA ECKSTEIN VICE PRESIDENT 194518 0 0 0 0 0 9000 0 13922 0 217440 0 0 0 MR CHRIS M FREER VICE PRESIDENT 199315 0 0 0 0 0 12248 0 44380 0 255943 0 0 0 MS MARCIA SPILLER VICE PRESIDENT 243382 0 0 0 0 0 44980 0 34568 0 322930 0 0 0 MR LEE CONNER ADMINISTRATOR 156159 0 0 0 0 0 9513 0 11428 0 177100 0 0 0 MR EDWIN NOTESTINE ADMINISTRATOR 164713 0 0 0 0 0 9825 0 8150 0 182688 0 0 0 MR DANA PHILLIPS ADMINISTRATOR 129425 0 0 0 0 0 7728 0 26209 0 163362 0 0 0 MS ANNIE SMITH ADMINISTRATOR 117946 0 0 0 18899 0 625 0 13673 0 151143 0 0 0 MS TONIA R WEBB ADMINISTRATOR 129389 0 0 0 0 0 8003 0 12727 0 150119 0 0 0 A DEVELOPMENT AUTHORITY OF FULTON COUNTY 581506878 359900ZR1 2002-10-24 27000000 CONSTRUCT & RENOVATE MIDDLE SCHOOL CLASSROOMS & ARTS FACILITY-NORTH CAMPUS 0 0 0 B DEVELOPMENT AUTHORITY OF FULTON COUNTY 581506878 359900ZK6 2006-08-10 11000000 CONSTRUCT NEW PRIMARY SCHOOL CAMPUS 0 0 0 C DEVELOPMENT AUTHORITY OF FULTON COUNTY 581506878 359900ZH3 2008-06-10 32000000 CONSTRUCT & RENOVATE ATHLETIC FACILITIES & SUPPORT SPACES 0 0 0 D DEVELOPMENT AUTHORITY OF FULTON COUNTY 581506878 359900ZJ9 2007-08-23 13000000 CONSTRUCT & RENOVATE UPPER SCHOOL CLASSROOM FACILITIES 0 0 0 A 27312631 287000 27025631 2004 0 0 1 1 B 11262133 184984 11077149 2007 0 0 1 1 C 32414132 193276 32220856 2009 0 0 1 1 D 13252860 317731 12935129 2008 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 1 1 0 0 0 0 B 1 1 0 0 0 0 C 1 1 0 0 1 0 D 1 1 0 0 0 0 A 0 B 0 C 0 D 0 DR F STUART GULLEY PRESIDENT X 200000 101666 0 1 1 101666 MR BEN JOHNSON CHAIRMAN OF BOARD 161269 FORMER PARTNER AT ALSTON AND BIRD - ALSTON AND BIRD ADVISES WOODWARD ACADEMY REGARDING LEGAL AFFAIRS. 0 MR JAMES SUTHERLAND BOARD MEMBER 1201233 OWNER OF SUTHERLAND FOODS - WOODWARD ACADEMY PURCHASES FOOD FOR DINING SERVICES FROM SUTHERLAND FOODS. 0 MR KENNETH HOPKINS SON-IN-LAW OF MR. SUTHERLAND (BOARD MEMBER) 302160 OWNER OF TROPIC DESIGNS, INC.- TROPIC DESIGNS PROVIDES TURF MANAGEMENT SERVICES FOR WOODWARD ACADEMY ATHLETIC FIELDS. 0 MR GENE MILNER BOARD MEMBER 80228 OWNER OF MILNER, INC. WOODWARD ACADEMY PURCHASES OFFICE SUPPLIES FOR PROGRAM AND ADMINISTRATIVE SERVICES FROM MILNER INC. 0 X 17 250425 MARKET SALES PRICE 0 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 AUDIT COMMITTEE AND THE FINANCE AND EXECUTIVE COMMITTEE REVIEW AND APPROVE THE FORM 990. AN ELECTRONIC COPY OF THE FORM 990 IS SENT TO ALL BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR BOARD MEMBERS, OFFICERS AND KEY EMPLOYEES COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE AND CERTIFY THAT THEY HAVE READ AND ARE IN COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. BOARD MEMBERS WHO HAVE A POTENTIAL CONFLICT OF INTEREST ABSTAIN FROM VOTING ON ISSUES INVOLVING THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE VP FOR FINANCE AND ADMINISTRATION RESEARCHES COMPARABLE COMPENSATION DATA AND PROVIDES THE INFORMATION TO THE PRESIDENT AND THE COMPENSATION COMMITTEE. COMPARABLE DATA FROM THE FOLLOWING GROUPS ARE USED: ALL MEMBER SCHOOLS OF THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS), ALL NON-MEMBER SCHOOLS THAT REPORT TO NAIS, ALL GEORGIA INDEPENDENT SCHOOLS, AND THE 30 LARGEST INDEPENDENT SCHOOLS IN THE U.S. IN DETERMINING COMPENSATION. SOME OF THE FACTORS CONSIDERED INCLUDE THE EXPERIENCE OF THE EMPLOYEE AND THE SIZE AND COMPLEXITY OF THE SCHOOL IN RELATION TO THE SCHOOLS IN THE COMPARISON DATA. THE COMPENSATION COMMITTEE APPROVES AND DOCUMENTS THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES AND ALL OFFICERS AND KEY EMPLOYEES RECEIVE ANNUAL WRITTEN CONTRACTS. FORM 990, PART VI, SECTION C, LINE 18 THE SCHOOL'S FORMS 1023, 990 AND 990T ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED LOSS ON INTEREST RATE SWAP AGREEMENT -2,711,051. DECREASE IN VALUE OF SPLIT INTEREST AGREEMENTS -9,852. INTEREST AND FEES ON INTEREST RATE SWAP AGREEMENTS -2,462,675. PAGE 12, SECTION XI, LINE 2C THE AUDIT COMMITTEE OF THE BOARD OF GOVERNORS IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT PROCESS AND THE SELECTION OF INDEPENDENT AUDITORS. FORM 990, PART V, LINES 1C, 7G & 7H THE ORGANIZATION DID NOT RECEIVE CONTRIBUTIONS OF QUALIFIED INTELLECTUAL PROPERTY AND WAS THEREFORE NOT REQUIRED TO FILE FORM 8899. LIKEWISE, THERE WERE NO CONTRIBUTIONS OF CARS, BOATS, AIRPLANES, OR OTHER VEHICLES, AND FORM 1098-C WAS NOT REQUIRED. THE ORGANIZATION DID NOT HAVE ANY REPORTABLE PAYMENTS TO VENDORS OR REPORTABLE GAMING (GAMBLING) WINNINGS TO PRIZE WINNERS AND THEREFORE, THE BACKUP WITHHOLDING RULES DID NOT APPLY. THE GOVERNING BOARD HAS DELEGATED AUTHORITY TO THE FINANCE & EXECUTIVE COMMITTEES (22 MEMBERS) TO ACT ON BEHALF OF THE BOARD. WA RETAIL CENTER LLC 1662 RUGBY AVENUE COLLEGE PARK GA 30337 464115766 RENTAL REAL ESTATE GA 802454 7297726 WOODWARD ACADEMY INC WA RETAIL PARKING LLC 1662 RUGBY AVENUE COLLEGE PARK GA 30337 464122321 PARKING LOT GA 0 287502 WOODWARD ACADEMY INC STUDENT TRANSPORT INC 2836 RN MARTIN STREET EAST POINT GA 30344 581806042 BUS TRANSPORTATION OF WOODWARD ACADEMY STUDENTS GA 501(C)(3) 509(A)(1), TYPE 1 WOODWARD ACADEMY 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 STUDENT TRANSPORT INC M 1245000 PER FINANCIAL STATEMENT STUDENT TRANSPORT INC R 588480 PER FINANCIAL STATEMENT WOODWARD ACADEMY RETAIL CENTER LLC D 6937500 PER FINANCIAL STATEMENT WOODWARD ACADEMY RETAIL CENTER LLC R 506749 PER FINANCIAL STATEMENT