2016-05-03T07:33:56-05:00 2015-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 1650 MARKET ST SUITE 4500 PHILADELPHIA PA 19103 990 2014-07-01 231178880 VALLEY FORGE MILITARY ACADEMY FOUNDATION VALL 6109891200 1001 EAGLE ROAD WAYNE PA 190873695 VINCENT J VUONO CFO/COO 6109891200 2016-05-02 1 JULIUS C GREEN CPA JD P00350393 2159720701 2016-05-02 2014 2016-08-17 19:52:53Z DR STACEY R SAUCHUK PH 1001 EAGLE ROAD WAYNE PA 190873695 33394857 0 X WWW.VFMAC.EDU X 1928 PA EDUCATIONAL INSTITUTION FOCUSED ON BUILDING LEADERSHIP THROUGH A MILITARY ENVIRONMENT. 18 18 362 75 424332 0 2887985 2553643 26442164 28390329 464362 323035 106925 120214 29901436 31387221 8261862 9090876 0 0 10492739 9933405 0 0 677487 11353955 11221399 30108556 30245680 -207120 1141541 44750103 43724814 13698644 12085389 31051459 31639425 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 24545099 9090876 28125636 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 565 STUDENTS DURING THE YEAR. 24545099 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 23 0 1 362 1 1 1 0 0 0 0 1 1 0 0 0 0 X 18 18 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 CFOCOO 6109891232 1001 EAGLE ROAD WAYNE PA 19087 ROBERT BACINE VICE CHAIRMAN 1.00 X X 0 0 0 RICHARD HOCKER BOARD MEMBER (RES. 7/14) 1.00 X 0 0 0 FREDERICK BREITENFELD JR PHD BOARD MEMBER 1.00 X 0 0 0 J KENT MCNEW BOARD MEMBER 1.00 X 0 0 0 CONRAD MUHLY IV BOARD MEMBER 1.00 X 0 0 0 DANIEL REAVY BOARD MEMBER 1.00 X 0 0 0 CHRIS ROUSSOS BOARD MEMBER 1.00 X 0 0 0 GEORGE SCHILDGE BOARD MEMBER 1.00 X 0 0 0 WILLIAM FLOYD JR CHAIRMAN 1.00 X X 0 0 0 JOHN ENGLISH BOARD MEMBER 1.00 X 0 0 0 BLAISE MERCADENTE BOARD MEMBER (RES. 7/14) 1.00 X 0 0 0 JEFFREY NICK BOARD MEMBER 1.00 X 0 0 0 DAVID ESQUEDA BOARD MEMBER 1.00 X 0 0 0 WALTER LORD BOARD MEMBER 1.00 X 0 0 0 AUDREY SPANGENBERG BOARD MEMBER 1.00 X 0 0 0 ANTHONY MCINTYRE BOARD MEMBER 1.00 X 0 0 0 CHARLES SCHAPPERT BOARD MEMBER 1.00 X 0 0 0 JOSEPH A BARTASIUS BOARD MEMBER 1.00 X 0 0 0 MICHAEL R RICKETTS BOARD MEMBER 1.00 X 0 0 0 JONATHAN TRATT BOARD MEMBER 1.00 X 0 0 0 VINCENT VUONO CFO/TREASURER 40.00 X 187692 0 15201 STACEY SAUCHUK PRESIDENT 40.00 X 279852 0 36208 DOUGLAS HASBROUCK VP DEVELOPMENT 40.00 X 174991 0 15875 JAMIESON BILELLA VP MARKETING & ADMISSIONS 40.00 X 165000 0 6663 RICHARD PISCAL COMMANDANT OF CADETS 40.00 X 125000 0 1719 932535 0 75666 5 0 1 0 SODEXO INC PO BOX 905374 CHARLOTTE NC 28290 FOOD VENDING 2376279 SC&A CONSTRUCTION INC PO BOX 7202 WILMINGTON DE 19803 CONSTRUCTION SERVICES 1425192 MAIN LINE JANITORIAL SERVICE INC 4438 LOBELLA COURT CHESTER SPRINGS PA 19425 CUSTODIAL 793424 MCS 1601 MARKET STREET STE 800 PHILADELPHIA PA 19103 MAIL/COPIER 217712 RILEY RIPER HOLLIN & COLAGRECO PO BOX 1265 / EAGLEVIEW CORP CTR EXTON PA 19341 LEGAL 204467 25 51000 20445 2482198 68344 2553643 TUITION AND FEES 611600 27272364 27272364 SUMMER CAMP PROGRAM 611600 667754 403061 264693 HOUSING RENTALS 611600 388533 388533 FINANCIAL AID 611600 61678 61678 28390329 319914 319914 158870 114868 44002 44002 44002 1788104 1784983 3121 3121 3121 45432 51000 107785 -62353 -62353 CAVALRY 713990 115637 115637 TUITION REFUND 900099 20000 20000 OTHER ADMINISTRATIVE INCOME 900099 2928 2928 138565 31387221 28125636 424332 283610 9090876 9090876 851852 851852 7360782 5789207 1162189 409386 1027961 787715 177549 62697 692810 419487 247176 26147 402395 402395 97445 97445 96157 96157 1281415 870396 411019 430702 28773 401929 1478721 1334777 113640 30304 69430 69430 1942167 1335897 504209 102061 1688444 1644279 38355 5810 347331 300623 38606 8102 1413872 1223738 157154 32980 UNIFORMS 733471 733471 STUDENT PROGRAMS 507744 507744 BAD DEBTS 238351 238351 FOOD SERVICE 173849 173849 319905 304267 15638 30245680 24545099 5023094 677487 1500 1500 2941052 750997 8822 8614 208652 194506 933790 707071 50659052 30806384 18656833 19852668 12250885 12922079 50308 50151 9698261 9237228 44750103 43724814 1954157 1833902 3604606 2577833 7821491 7433729 51757 30347 266633 209578 13698644 12085389 X 9268641 10196641 9695520 9655482 12087298 11787302 31051459 31639425 44750103 43724814 X 1141541 -92541 -461034 X 0 1 X 1 1 1 X 1852767 3391910 1851834 2887985 2553643 12538139 1852767 3391910 1851834 2887985 2553643 12538139 238094 12300045 588531 658549 433939 487848 478784 2647651 33671 356 6883 40693 22928 104531 15290321 148699294 0.80440 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER ADMINISTRATIVE INCOME - 2010 AMOUNT: $ 33,671. 2011 AMOUNT: $ 356. 2012 AMOUNT: $ 6,883. 2013 AMOUNT: $ 40,693. 2014 AMOUNT: $ 22,928. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10156202 115374 79607 365100 9986083 9379728 34783 1094491 352800 10156202 8688966 93854 933608 336700 9379728 9061504 73056 -87569 323300 34725 8688966 8007355 53607 1332242 331700 9061504 0.00000 0.72470 0.27530 1 0 2571602 2571602 40136517 26099041 14037476 5510950 4707343 803607 2439983 2439983 19852668 INTEREST IN PERPETUAL TRUST 4152774 INTEREST IN CHARITABLE REMAINDER TRUSTS 5084454 9237228 X 21792020 -92541 30539 -9648067 -9710069 31502089 -114868 -114868 31387221 21204054 30539 114868 145407 21058647 9187033 9187033 30245680 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, 2015. 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, 2015, THE FOUNDATION HAS NO MATERIAL UNRECOGNIZED TAX BENEFITS OR ACCRUED INTEREST AND PENALTIES. THE FEDERAL 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, AND APPLICABLE STATE TAX FILINGS FOR THE YEARS ENDED JUNE 30, 2015, 2014, AND 2013 REMAIN SUBJECT TO EXAMINATION BY THE APPROPRIATE TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -9,090,876. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -415,370. CHANGE IN VALUE OF PERPETUAL TRUSTS -45,664. INVESTMENT FEES -96,157. PART XI, LINE 4B - OTHER ADJUSTMENTS: FACILITIES RENTAL EXPENSES -114,868. PART XII, LINE 2D - OTHER ADJUSTMENTS: FACILITIES RENTAL EXPENSES 114,868. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 9,090,876. INVESTMENT FEES 96,157. 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 4 SCHOLARSHIPS AND FINANCIAL AID ASSISTANCE ARE AWARDED ON THE BASIS OF NEED, MEASURED BY FAFSA, PHEAA AND PELL. ADDITIONALLY, ASSISTANCE IS AWARDED BASED ON MERIT, SUCH AS ACADEMIC PERFORMANCE AND OTHER FACTORS. 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 33738 17450 16288 4931 17705 10208 SILENT AUCTION 20905 11050 9855 650 2629 3000 131 54643 28500 26143 5581 20334 3000 10339 39254 -13111 1 VARIOUS SCHOLARSHIPS AND AWARDS 522 9090876 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 X X 0 1 0 0 0 0 0 0 0 VINCENT VUONO CFO/TREASURER 187692 0 0 0 0 0 2828 0 12373 0 202893 0 0 0 STACEY SAUCHUK PRESIDENT 279852 0 0 0 0 0 29862 0 6346 0 316060 0 0 0 DOUGLAS HASBROUCK VP DEVELOPMENT 174991 0 0 0 0 0 1683 0 14192 0 190866 0 0 0 JAMIESON BILELLA VP MARKETING & ADMISSIONS 165000 0 0 0 0 0 317 0 6346 0 171663 0 0 0 PART I, LINE 4B PRESDIENT STACEY SAUCHUK PARTICIPATES IN A NON-QUALIFIED PLAN. THE AMOUNT CONTRIBUTED TO THE PLAN FOR THE YEAR WAS $24,750. A NORTH PENN HEALTH HOSPITAL AND EDUCATION AUTHORITY 232130191 2013-09-03 8000000 REFINANCING AND CAPITAL IMPROVEMENTS 0 0 0 A 418338 8000000 159204 1909537 5906356 24863 2015 1 0 0 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 2028 COMPARABLE SALES X OFF./AUCTION ITEMS 31 45828 COMPARABLE SALES X CUFFLINKS 1 11128 COST X 22 YR HORSE 1 5000 COMPARABLE SALES X FURNITURE 1 4360 COMPARABLE SALES 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 DIRECTORS 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 COMPARISION 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 -415,370. CHANGE IN VALUE OF PERPETUAL TRUSTS -45,664. FORM 990, PAGE 6, PART VI, LINE 14 THE ORGANIZATION HAS AN ORAL POLICY CONCERNING DOCUMENT RETENTION AND DESTRUCTION AND IS CURRENTLY IN THE PROCESSING 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