2016-05-12T14:31:51-05:00 2015-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2014-07-01 221607926 RUTGERS PREPARATORY SCHOOL % H STEWART WHELLER III RUTG 7325455600 1345 EASTON AVENUE SOMERSET NJ 088731499 ALAN WINK TREASUER 7325455600 2016-05-11 true KPMG LLP P01205643 2127589700 2016-05-11 2014 2016-08-17 19:52:53Z STEVEN A LOY 1345 EASTON AVENUE SOMERSET NJ 088731499 25924824 false X WWW.RUTGERSPREP.ORG X 1766 NJ PRE-KINDERGARTEN THROUGH TWELFTH GRADE CO-EDUCATIONAL INDEPENDENT DAY SCHOOL 25 25 338 27 0 0 633621 1308587 21336577 23355816 377724 320755 1198430 406018 23546352 25391176 3713750 4240638 0 0 13659237 14170163 0 0 1062850 5831767 5794318 23204754 24205119 341598 1186057 48223764 49226899 11178012 11104464 37045752 38122435 THROUGH EXCELLENCE IN EDUCATION, WE INSPIRE STUDENTS TO DISCOVER AND PURSUE THEIR PASSIONS, EMBRACE INTELLECTUAL CURIOSITY AND CREATIVITY, AND LEAD WITH CONFIDENCE. false false 16857115 4240638 20252973 EDUCATION AND INSTRUCTION FOR APPROXIMATELY 685 STUDENTS IN GRADES PRE-KINDERGARTEN THROUGH GRADE 12 SERVING SOMERSET COUNTY AND ADJACENT COMMUNITIES. 1142661 1229689 STUDENT SERVICES - ACTIVITIES (INCLUDING ATHLETICS, STUDENT PUBLICATIONS, DRAMA, CLUBS ETC.) 2109898 2136335 AUXILIARY ENTERPRISES (INCLUDING SCHOOL STORE, CAFETERIA, INTERNATIONAL PROGRAM, TRANSPORTATION, SUMMER CAMPS, AFTER SCHOOL PROGRAMS, GRADUATION). 20109674 true true false false false false false false false true true false false false true true true false true false false false false false false false false false true true true false false false false false true false false true false true false false false false false false false false true 47 0 true 338 true false false false false false false false false false false X 25 25 false false false false false false false true true false false true true true true true false true false false X H STEWART WHELLER III 7325455600 1345 EASTON AVENUE SOMERSET NJ 088731499 Bruce Williams President, Trustee 3.0 0.0 X X 0 0 0 Ana Aymes Vice President, Trustee 1.0 0.0 X X 0 0 0 Alan Wink Treasurer, Trustee 2.0 0.0 X X 0 0 0 Kate Andersen-Sheft Secretary, Trustee 1.0 0.0 X X 0 0 0 Mark A Bean Trustee 1.0 0.0 X 0 0 0 Nan M Blecker Trustee 1.0 0.0 X 0 0 0 Scott Bowen Trustee 1.0 0.0 X 0 0 0 Andrea Cunnell Trustee 1.0 0.0 X 0 0 0 Mary Ann De Santis Trustee 1.0 0.0 X 0 0 0 Mary Todd Ganzenmuller Trustee 1.0 0.0 X 0 0 0 Andrew K Golden Trustee 1.0 0.0 X 0 0 0 Jonathan D Kaufelt Trustee 1.0 0.0 X 0 0 0 Peter Lampen Trustee 1.0 0.0 X 0 0 0 Benedict Lau Trustee 1.0 0.0 X 0 0 0 Paul Leath Trustee 1.0 0.0 X 0 0 0 Peter S Lewis Trustee 1.0 0.0 X 0 0 0 Joseph Mantell Trustee 1.0 0.0 X 0 0 0 Henry Ramallo Trustee 1.0 0.0 X 0 0 0 Ernest Renda Trustee 1.0 0.0 X 0 0 0 Thangamani Seenivasan Trustee 1.0 0.0 X 0 0 0 Loretta Shaw-Lorello Trustee 1.0 0.0 X 0 0 0 Nancy Stevenson Trustee 1.0 0.0 X 0 0 0 Donald Sutton Trustee 1.0 0.0 X 0 0 0 Gerald Tamburro Trustee 1.0 0.0 X 0 0 0 Manmeet Virdi Trustee 1.0 0.0 X 0 0 0 Steven A Loy Headmaster 50.0 0.0 X 398261 0 59299 H Stewart Wheller III Chief Financial Officer 50.0 0.0 X 157784 0 35093 Carole Glantzow-Zboray Summer School Dir., TeacheR 50.0 0.0 X 161145 0 30455 James E Ackerman Director of Development 40.0 0.0 X 146380 0 33109 Peter Richardson Director of Campus Operations 50.0 0.0 X 143014 0 42601 Todd Rutman Director of Finance 50.0 0.0 X 129309 0 27674 Kevin Merges Dir. of Innovation Center 50.0 0.0 X 123082 0 32129 1258975 0 260360 11 false true false SAGE DINING SERVICES INC 1402 YORK ROAD SUITE 100 LUTHERVILLE MD 21093 FOOD SERVICE 761871 GEORGE DAPPER INC 999 RIVERSIDE DRIVE KEASBEY NJ 08832 bus service 289301 2 1308587 252507 1308587 STUDENT TUTION 611710 21571743 21571743 STUDENT FEES 611710 847365 847365 STUDENT TRANSPORTAION 611710 201061 201061 STUDENT HOUSING 611710 372900 372900 OTHER PROGRAMMES 611710 362747 362747 23355816 200687 0 200687 0 0 85043 10582 74461 0 74461 74461 567321 447253 120068 120068 120068 0 0 119926 75813 44113 44113 SUMMER CAMPS 900099 122428 122428 OTHER REVENUE 900099 165016 96640 68376 287444 25391176 23618997 0 463592 0 4240638 4240638 0 0 663172 46456 430886 185830 49211 49211 10901685 9163971 1239187 498527 587880 469527 84224 34129 1128084 936845 136032 55207 840131 671330 132464 36337 0 21600 21600 69750 69750 0 0 0 0 49851 49851 119300 77545 17895 23860 118990 118990 0 334902 318157 13396 3349 64108 34820 29288 0 109583 90428 19155 201847 201847 0 1361556 1293478 54462 13616 144977 26921 117773 283 DINING SERVICE 681080 681080 INTERNATIONAL PROGRAM 473830 405586 68244 ACADEMIC DEPT.EXP./ACTIVITIES 382893 382893 ATHLETICS & STUDENT ACTIVITIES 455072 455072 1204979 681546 341009 182424 24205119 20109674 3032595 1062850 8057250 8542106 9873124 10284549 138213 487280 123144 104201 121000 121000 0 0 0 0 105591 275711 233576 148736 35267261 15358205 20242550 19909056 7996381 8322803 0 0 0 0 0 0 1332935 1031457 48223764 49226899 1842521 1925467 0 0 3584878 3632499 5545095 5354218 0 0 0 0 0 0 0 0 205518 192280 11178012 11104464 X 32814231 33276894 2108797 2440902 2122724 2404639 37045752 38122435 48223764 49226899 1186057 -109374 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10120394 281915 203043 36961 10568391 8762339 86209 1322314 50468 10120394 7724470 245475 801309 8915 8762339 7649623 49248 55231 29632 7724470 6349672 110266 1314818 125133 7649623 0.62624 0.22753 0.14623 351179 351179 22938259 9775850 13162409 4342849 3017897 1324952 7634974 2564458 5070516 19909056 0 AMOUNTS HELD FOR OTHERS 106371 ASSET RETIREMENT OBLIGATION 85909 192280 X 21127559 -109374 -4240638 -4350012 25477571 -86395 -86395 25391176 20050876 86395 86395 19964481 4240638 4240638 24205119 FORM 990, SCHEDULE D, PART V, LINE 4 THE INTENDED USE OF ENDOWMENT FUNDS ENDOWMENT FUNDS HAVE BEEN ESTABLISHED BY THE SCHOOL FOR SCHOLARSHIPS, FACULTY DEVELOPMENT AND GENERAL PURPOSES. FORM 990, SCHEDULE D, PART X INCOME TAXES The School is an organization described under Section 501(c)(3) of the Internal Revenue Code and is exempt from Federal income taxes under Section 501(a) of the Code on income generated by activities that are substantially related to its tax-exempt purpose. There are certain transactions that could be deemed unrelated business income and could result in a tax liability. Management reviews transactions to estimate potential tax liabilities using a threshold of more likely than not. It is managements estimation that there are no material tax liabilities that are required to be recorded. FORM 990, SCHEDULE D, PART XI RECONCILIATION OF REVENUE LINE 2D FINANCIAL AID ($4,240,638) LINE 4B COST OF GOODS SOLD ($75,813) RENTAL EXPENSES ($10,582) ----------------- ($86,395) FORM 990, SCHEDULE D, PART XII RECONCILIATION OF EXPENSES LINE 2D COST OF GOODS SOLD $75,813 RENTAL EXPENSES $10,582 --------------------- $86,395 LINE 4B FINANCIAL AID $4,240,638 true true true true true true true false false false false false false false false true false true RACIALLY NONDISCRIMINATORY FORM 990, SCHEDULE E, LINE 3 A STATEMENT AS TO SUCH POSITION IS INCLUDED IN ADVERTISEMENTS AND ON THE ORGANIZATION'S WEBSITE. FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY FORM 990, SCHEDULE E, LINE 6A NO CHILD LEFT BEHIND, STATE OF NEW JERSEY - TEXTBOOKS AND NURSING. true STUDENT FINANCIAL AID & SCHOLARSHIPS 261 4240638 FORM 990, SCHEDULE I, PART I, LINE 2 RUTGERS PREPARATORY SCHOOL OFFERS FINANCIAL AID TO QUALIFIED STUDENTS BASED ON THE DEMONSTRATED FINANCIAL NEED OF THE FAMILY AND THE AVAILABILITY OF FINANCIAL AID FUNDS. THESE FUNDS ARE NEED-BASED FINANCIAL AID. RUTGERS PREPARATORY SCHOOL USES TUITION AID DATA SERVICES (TADS) AS ITS FINANCIAL Aid APPLICATION SERVICE. TADS ASSISTS INDEPENDENT SCHOOLS IN DETERMINING FINANCIAL NEED. ALL APPLICATIONS FOR AID ARE MADE THROUGH THE ADMISSION OFFICE AND THE LIST OF FAMILIES WHO RECEIVE AID IS KEPT CONFIDENTIAL. FINANCIAL AID GRANTS ARE APPLIED AS A REDUCTION TO THE FAMILY'S TUITION. X X true true X X X X false false false false false false false false false Steven A Loy Headmaster 310293 0 0 0 87968 0 32477 0 26822 0 457560 0 0 0 H Stewart Wheller III Chief Financial Officer 156656 0 0 0 1128 0 16665 0 18428 0 192877 0 0 0 Carole Glantzow-Zboray Summer School Dir., TeacheR 160779 0 0 0 366 0 12027 0 18428 0 191600 0 0 0 James E Ackerman Director of Development 145609 0 0 0 771 0 14681 0 18428 0 179489 0 0 0 Peter Richardson Director of Campus Operations 142503 0 0 0 511 0 14927 0 27674 0 185615 0 0 0 Todd Rutman Director of Finance 129145 0 0 0 164 0 0 0 27674 0 156983 0 0 0 Kevin Merges Dir. of Innovation Center 122969 0 0 0 113 0 10280 0 21849 0 155211 0 0 0 FORM 990, SCHEDULE J, PART I, LINE 1A HOUSING AND OTHER ALLOWANCES AND TRAVEL FOR COMPANIONS HOUSING AND OTHER TAXABLE ALLOWANCES DESCRIPTION: THE ALLOWANCES FOR THE FOLLOWING EMPLOYEE IS TAXABLE AND REFLECTED AS PART OF TAXABLE INCOME AND INCLUDED AS TAXABLE INCOME ON HIS FORM W-2, BOX 1 AND 5. STEVEN LOY'S CONTRACT INCLUDES A HOUSING AND RELATED EXPENSES ALLOWANCE OF $35,400 FOR MORTGAGE PAYMENTS, REAL ESTATE TAXES, INSURANCE, MAINTENANCE AND UTILITIES; AN AUTOMOBILE ALLOWANCE OF $6,487 FOR FUEL AND MAINTENANCE; and the taxable lease value of a vehicle provided by the school of $5,276. TRAVEL FOR COMPANIONS: THE HEADMASTER AND HIS SPOUSE SERVE AS AMBASSADORS FOR THE SCHOOL AND FULFILL A KEY ADMINISTRATIVE ROLE IN FUNDRAISING, MARKETING, AND RECRUITMENT OF FACULTY AND STUDENTS. THE HEADMASTER'S SPOUSE ALSO SERVES IN THE ROLE OF ATHLETIC COACH AND INSTRUCTOR. TRAVEL RELATED ONLY TO THE RESPONSIBILITIES OF THESE FUNCTIONS IS REIMBURSED IN ACCORDANCE WITH THE SCHOOL'S PROCUREMENT GUIDELINES AND IS NOT REPORTED AS TAXABLE COMPENSATION TO THE HEADMASTER. TRAVEL OUTSIDE OF THIS FUNCTION IS NOT REIMBURSED. A NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY 222045817 2010-12-20 6000000 CONSTRUCTION OF NEW BUILDING false false false A 645782 0 6000000 0 79380 0 83174 0 5837996 0 0 0 2011 false false true true A false false true true false 0 false false false false A false false false true true false 0 false 0 false false A false Schedule K, Part IV, Line 2c, Column A The Economic Development Bond listed on column A has no rebate liability and no 8038-T filing requirements because the loan is a drawdown loan. Drawdown loans require bond proceeds to be requisitioned only as a reimbursement for costs already paid or requisitioned for costs that are due. As a result, a drawdown loan should never generate investment proceeds from the sale proceeds of the bond. STEVEN A LOY OFFICER HOUSE & HOUSE IMPROV X 160000 96000 false true true STEVEN A LOY OFFICER HOME IMPROVEMENTS X 25000 25000 false true true 121000 PHILOMENA C LOY FAMILY - S.A. LOY 49211 COMP & BENEFITS false X 21 252507 FMV false true false FORM 990, SCHEDULE M, PART I, COLUMN (B) NUMBER OF CONTRIBUTORS THE NUMBER IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. THE ORGANIZATION RECEIVED 21 STOCK CONTRIBUTIONS FROM 10 CONTRIBUTORS. FORM 990, PART VI, LINE 11 REVIEW OF FORM 990 THE FORM 990 IS PREPARED BY CFO WITH INPUT FROM THE HEADMASTER AND OTHER SCHOOL ADMINISTRATORS WITH ASSISTANCE FROM THE SCHOOL'S TAX ACCOUNTANTS. THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. THE FINAL COPY OF THE FORM 990 IS PROVIDED TO EACH OF THE BOARD MEMBERS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, LINE 12C CONFLICT OF INTEREST POLICY A CONFLICT OF INTEREST STATEMENT IS SENT TO EACH BOARD OF TRUSTEE MEMBER AND EACH ADMINISTRATOR EVERY SEPTEMBER FOR SIGNATURE. THE SIGNED CONFLICT OF INTEREST STATEMENTS ARE RETURNED TO THE ASSISTANT TO THE HEADMASTER. THE STATEMENTS ARE REVIEWED FOR ANY REPORTED POTENTIAL CONFLICTS. ANY POTENTIAL CONFLICTS ARE REPORTED TO THE PRESIDENT OF THE BOARD AND/OR HEADMASTER. IF NECESSARY, THE COMMITTEE ON TRUSTEESHIP AND/OR THE BOARD OF TRUSTEES WOULD PROVIDE GUIDANCE AND TAKE SUCH ACTION AS IT DEEMS APPROPRIATE UNDER THE CIRCUMSTANCES. FORM 990, PART VI, LINE 15 COMPENSATION PART VI, LINE 15A: A THREE-MEMBER COMPENSATION COMMITTEE CONSISTING OF INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES OVERSEES THE ENGAGEMENT OF THE HEADMASTER/CEO. IT ALSO REVIEWS ANNUAL PERFORMANCE. IN 2009, THIS COMMITTEE NEGOTIATED A LONG-TERM EMPLOYMENT CONTRACT WHICH RUNS THROUGH JUNE 30, 2017 WITH THE HEADMASTER. IN THE COURSE OF COMMITTEE AND BOARD DELIBERATIONS, THE SCHOOL LOOKED AT MARKET COMPARABLES AND OTHER OUTSIDE INFORMATION. THE COMPENSATION COMMITTEE MET BY TELEPHONE, EMAIL, ETC. ON FREQUENT OCCASIONS DURING THE DELIBERATION PERIOD AND IT RETAINED CONTEMPORANEOUS RECORDS. THE SCHOOL ALSO UTILIZED OUTSIDE LEGAL COUNSEL TO FORMALIZE AND FINALIZE THE AGREEMENT. THE CONTRACT WAS APPROVED BY THE BOARD OF TRUSTEES. PART VI, LINE 15B: THE CEO FIXES THE COMPENSATION OF THE CFO IN ACCORDANCE WITH REGULAR AND CONTINUING COMPENSATION PRACTICES FOR ALL SCHOOL EMPLOYEES. FORM 990, PART VI, LINE 19 RUTGERS PREPARATORY SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.