2015-11-19T14:10:31-06:00 2015-06-30 621199757 LBMC PC PO BOX 1869 BRENTWOOD TN 370241869 990 2014-07-01 237424429 UNIVERSITY SCHOOL OF NASHVILLE UNIV 6153218000 2000 EDGEHILL AVENUE NASHVILLE TN 372122198 VINCENT DURNAN JR DIRECTOR 6153218000 2015-11-19 1 JULIE BARTLETT P00742923 6153774600 2015-11-19 2014 2016-03-07 17:11:31Z VINCENT DURNAN JR 2000 EDGEHILL AVENUE NASHVILLE TN 372122198 30395169 0 X WWW.USN.ORG X 1975 TN UNIVERSITY SCHOOL OF NASHVILLE MODELS THE BEST EDUCATIONAL PRACTICES IN AN ENVIRONMENT THAT REPRESENTS THE CULTURAL AND ETHNIC COMPOSITION OF GREATER NASHVILLE, USN FOSTERS EACH STUDENT'S INTELLECT, ARTISTIC AND ATHLETIC POTENTIAL, VALUING AND INSPIRING INTEGRITY, CREATIVE EXPRESSION, A LOVE OF LEARNING, AND THE PURSUIT OF EXCELLENCE. 30 30 455 1000 0 0 5507624 5065127 21939605 22892278 359871 714357 198851 221560 28005951 28893322 2430875 2627274 0 0 14679842 15479988 0 0 1275308 6525407 7294965 23636124 25402227 4369827 3491095 49675262 52138891 10036172 9656313 39639090 42482578 X UNIVERSITY SCHOOL OF NASHVILLE MODELS THE BEST EDUCATIONAL PRACTICES IN AN ENVIRONMENT THAT REPRESENTS THE CULTURAL AND ETHNIC COMPOSITION OF GREATER NASHVILLE, USN FOSTERS EACH STUDENT'S INTELLECT, ARTISTIC AND ATHLETIC POTENTIAL, VALUING AND INSPIRING INTEGRITY, CREATIVE EXPRESSION, A LOVE OF LEARNING, AND THE PURSUIT OF EXCELLENCE. 0 0 21709696 2627274 22935668 OPERATION OF UNIVERSITY SCHOOL OF NASHVILLE SERVING AN ESTIMATED 1049 STUDENTS. 21709696 1 1 0 0 0 0 0 0 1 1 1 1 0 0 1 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 0 0 0 0 1 67 0 1 455 1 0 0 0 0 0 0 0 0 0 0 0 0 X 30 30 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 X X NORMA MILLER 6153218004 2000 EDGEHILL AVENUE NASHVILLE TN 372122198 DEL BRYANT TRUSTEE 1.50 X 0 0 0 ANN CARGILE BOARD SECRETARY 2.00 X X 0 0 0 XIU CRAVENS TRUSTEE 1.50 X 0 0 0 KATIE CRUMBO TRUSTEE 1.50 X 0 0 0 KIM DANO TRUSTEE 1.50 X 0 0 0 CHARLENE DEWEY TRUSTEE 1.50 X 0 0 0 BURGIN DOSSETT TRUSTEE 1.50 X 0 0 0 ELISABETH DYKENS BOARD VICE-PRESIDENT 2.00 X X 0 0 0 TORY FITZGIBBON TRUSTEE 1.50 X 0 0 0 BOB GORDON TRUSTEE 1.50 X 0 0 0 BRADFORD GULMI TRUSTEE 1.50 X 0 0 0 EDDIE HAMILTON TRUSTEE 1.50 X 0 0 0 HENRY HICKS III TRUSTEE 1.50 X 0 0 0 HAROLD JORDAN TRUSTEE 1.50 X 0 0 0 TERRI KASSELBERG TRUSTEE 1.50 X 0 0 0 DAVID KLOEPPEL BOARD PRESIDENT 2.50 X X 0 0 0 BERT MATHEWS TRUSTEE 1.50 X 0 0 0 ANDREW MAY TRUSTEE 1.50 X 0 0 0 SEEMA MEHROTRA TRUSTEE 1.50 X 0 0 0 TIM OZGENER TRUSTEE 1.50 X 0 0 0 FIONA PRINE TRUSTEE 1.50 X 0 0 0 LISA QUIGLEY TRUSTEE 1.50 X 0 0 0 HOLLY ROCHE TRUSTEE 1.50 X 0 0 0 IVANETTA DAVIS SAMUELS TRUSTEE 1.50 X 0 0 0 JON SHAYNE TRUSTEE 1.50 X 0 0 0 BRETT SWEET BOARD TREASURER 2.00 X X 0 0 0 BRIAN TIBBS TRUSTEE 1.50 X 0 0 0 MIMI VAUGHN TRUSTEE 1.50 X 0 0 0 GAIL WILLIAMS TRUSTEE 1.50 X 0 0 0 LINDE WILSON TRUSTEE 1.50 X 0 0 0 VINCENT W DURNAN JR SCHOOL DIRECTOR 65.00 X 296978 0 39746 JULIET C DOUGLAS DIRECTOR OF ADMISSIONS 45.00 X 156760 0 33204 JEFFREY A GREENFIELD HEAD OF MIDDLE SCHOOL 45.00 X 137561 0 15638 STEVEN E ROBINS HEAD OF HIGH SCHOOL 45.00 X 128630 0 15562 JANET SCHNEIDER DIRECTOR OF COLLEGE COUNSELING 45.00 X 107094 0 13824 TERESA STANDARD DIRECTOR OF FINANCE 45.00 X 148849 0 16101 ANNE M WESTFALL DIRECTOR OF DEVELOPMENT 45.00 X 120960 0 14368 1096832 0 148443 7 0 1 0 AMERICAN CONSTRUCTORS PO BOX 120129 NASHVILLE TN 37212 CONSTRUCTION FEES 3079789 SAGE DINING SERVICE INC 1402 YORK ROAD SUITE 100 LUTHERVILLE MD 21093 CAFETERIA MANAGEMENT 510444 CROSS GATE SERVICE INC 1730 GEN GEORGE PATTON DR BRENTWOOD TN 37027 JANITORIAL SERVICES 271362 HST INTERIOR ELEMENTS 640 RUNDLE AVE NASHVILLE TN 37210 FURNITURE/DESIGN CONSULTATION 176947 ROBERT MEDLEY 208 RED OAK TRAIL SPRING HILL TN 37174 COMPUTER CABLING/LABOR/MATERIALS 100529 5 5065127 1134612 5065127 STUDENT TUITION & FEES 611710 21347951 21347951 AFTER SCHOOL PROGRAM 611710 576118 576118 CAFETERIA INCOME 611710 537184 537184 SUMMER PROGRAM 611710 405307 405307 ANCILLARY PROGRAMS 611710 25718 25718 22892278 450210 450210 2788 450 0 0 2788 450 3238 3238 1086078 792027 29904 294051 -29904 264147 264147 555629 385277 170352 170352 299219 294639 4580 4580 BUSINESS OFFICE 611710 43390 43390 43390 28893322 22935668 0 892527 2627274 2627274 360345 360345 12281885 10478289 1186024 617572 538416 463634 47056 27726 918389 775098 96951 46340 1380953 1161136 153508 66309 327511 235797 91714 6325 6325 32629 32629 98585 98585 660967 466802 83709 110456 8975 7211 1764 1638577 1416805 75734 146038 385139 359504 10248 15387 1198900 1112254 86646 108923 99880 8092 951 171595 155489 11865 4241 1851051 1851051 99468 99468 OPERATING EXPENSES 276712 138713 130737 7262 SPECIAL EVENTS 263336 104357 17667 141312 STUDENT ACTIVITIES 113680 113680 DISCRETIONARY 52592 44137 8455 25402227 21709696 2417223 1275308 6026023 5714752 354850 225217 77698 80401 3540 39729 45763294 19399390 24812836 26363904 17927403 19234591 472912 480297 49675262 52138891 3501954 1869677 539677 898262 5792476 6845842 202065 42532 10036172 9656313 X 25892158 26243635 3809629 4435715 9937303 11803228 39639090 42482578 49675262 52138891 X 3491095 -647606 -1 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 14217151 1951416 -15385 372771 15780411 10887648 2415376 1248532 334405 14217151 9494910 1170403 902742 680407 10887648 9628467 215024 -17581 331000 9494910 7999824 526503 1424514 322374 9628467 0.12220 0.74800 0.12980 0 0 2814767 2814767 37830030 15944973 21885057 5118497 3454417 1664080 26363904 US AND INTERNATIONAL EQUITIES 5896543 F BONDS AND FIXED INCOME FUNDS 2732060 F MUTUAL FUNDS 7949151 F CASH AND CASH EQUIVALENTS 2424907 F PRIVATE EQUITY FUNDS 136000 F HEDGE FUNDS 13861 F CASH VALUE OF LIFE INSURANCE 82069 F 19234591 OBLIGATION UNDER INTEREST RATE SWAP 42532 42532 X 26199772 -647606 679915 32309 26167463 98585 2627274 2725859 28893322 23356284 679916 679916 22676368 98585 2627274 2725859 25402227 PART V, LINE 4: THE SCHOOL'S ENDOWMENT CONSISTS OF DONOR RESTRICTED AND BOARD DESIGNATED QUASI-ENDOWMENT FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. QUASI-ENDOWMENT CONSISTS OF UNRESTRICTED NET ASSETS DESIGNATED FOR FUTURE PURPOSES. THIS PORTION OF UNRESTRICTED NET ASSETS MAY BE EXPENDED AS AUTHORIZED BY THE BOARD OF TRUSTEES INVESTMENT AND SPENDING POLICY OR BY BOARD ACTION. CONTRIBUTIONS TO THE TEMPORARILY RESTRICTED FUND ARE RESTRICTED BY THE DONOR FOR A SPECIFIC PURPOSE. ALSO INCLUDED ARE THE PERMANENTLY RESTRICTED ENDOWMENT MARKET GAINS AND LOSSES RESULTING FROM THE INVESTMENT OF PERMANENTLY RESTRICTED NET ASSETS. THIS PORTION OF TEMPORARILY RESTRICTED NET ASSETS MAY BE EXPENDED AS AUTHORIZED BY THE BOARD OF TRUSTEES INVESTMENT AND SPENDING POLICY FOR THE PURPOSE STIPULATED BY THE DONOR. THE PERMANENTLY RESTRICTED ENDOWMENT FUND INCLUDES NET ASSETS SUBJECT TO DONOR IMPOSED STIPULATIONS THAT THEY BE MAINTAINED PERMANENTLY BY THE SCHOOL. GENERALLY, THE DONORS OF THESE ASSETS PERMIT THE SCHOOL TO USE ALL OR PART OF THE INCOME EARNED ON RELATED INVESTMENTS FOR GENERAL OR SPECIFIC PURPOSES. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(3). ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS. A TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE AMOUNT OF TAX BENEFIT GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. AS OF JUNE 30, 2015, THE SCHOOL HAS ACCRUED NO INTEREST AND NO PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. IT IS THE SCHOOLS POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. THE SCHOOL FILES A U.S. FEDERAL INFORMATION TAX RETURN. THE SCHOOL IS CURRENTLY OPEN TO AUDIT UNDER THE STATUTE OF LIMITATIONS BY THE INTERNAL REVENUE SERVICE FOR THE FISCAL YEARS ENDED AFTER JUNE 30, 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: BOOKSTORE COGS NETTED WITH REVENUE ON TAX RETURN 294,639. FUNDRAISING EXPENSE NETTED WITH REVENUE ON TAX RETURN 385,276. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH TUITION ON FINANCIALS 2,627,274. ROUNDING PART XII, LINE 2D - OTHER ADJUSTMENTS: BOOKSTORE COGS NETTED WITH REVENUE ON TAX RETURN 294,639. FUNDRAISING EXPENSE NETTED WITH REVENUE ON TAX RETURN 385,276. ROUNDING 1. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH TUITION ON FINANCIALS 2,627,274. 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 SCHOOL'S NON-DISCRIMINATORY POLICY IS PRINTED IN BROCHURES, VIEWBOOKS, OPEN HOUSE ADS, AND ALL OTHER PRINTED MATERIAL AVAILABLE TO THE PUBLIC. ARTCLECTIC 336238 336238 5046 4380 286067 EVENING CLASSES 78592 78592 779 42223 8 140799 140799 8169 600 38013 555629 555629 5046 13328 600 366303 385277 170352 1 FINANCIAL AID 215 2627274 OTHER CREDIT TO RECIPIENTS TUITION BILL SCHEDULE I, PART I, LINE 2: FINANCIAL AID IS AWARDED BASED UPON FINANCIAL NEED OF THE RECIPIENT'S FAMILY. FINANCIAL INFORMATION AND SUGGESTED FINANCIAL NEED OF THE RECIPIENT'S PARENT(S) OR GUARDIAN(S) IS PROVIDED TO THE SCHOOL BY AN INDEPENDENT THIRD PARTY. X 1 1 X X 0 0 0 0 0 0 0 0 0 VINCENT W DURNAN JR SCHOOL DIRECTOR 296978 0 0 0 0 0 30500 0 9246 0 336724 0 0 0 JULIET C DOUGLAS DIRECTOR OF ADMISSIONS 156760 0 0 0 0 0 24674 0 8530 0 189964 0 0 0 JEFFREY A GREENFIELD HEAD OF MIDDLE SCHOOL 137561 0 0 0 0 0 7106 0 8532 0 153199 0 0 0 TERESA STANDARD DIRECTOR OF FINANCE 148849 0 0 0 0 0 7528 0 8573 0 164950 0 0 0 A INDUSTRIAL DEVELOPMENT BOARD OF THE METROPOLITIAN GOV'T OF NASHVILLE 521789764 592106AB4 2002-08-01 8000000 TO FINANCE IMPROVEMENTS TO THE CAMPUS LOCATED IN NASHVILLE, TN. 0 0 0 A 0 0 0 0 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 A 0 X 39 1134612 FMV - DATE OF GIFT 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 XIU CRAVENS, CHARLENE DEWEY, RICHARD C. MCCARTY, ELISABETH DYKENS, BRETT SWEET AND GAIL WILLIAMS ARE EMPLOYED BY THE SAME UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 11 A DRAFT OF FORM 990 IS REVIEWED FIRST BY MEMBERS OF THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. AFTER THE FINANCE COMMITTEE REVIEWS AND MAKES ANY CHANGES NECESSARY, A REVISED DRAFT IS SENT TO EACH VOTING MEMBER OF THE BOARD OF TRUSTEES. ANY BOARD MEMBER COULD RECOMMEND CHANGES. THE FINAL COPY IS THEN SIGNED BY THE DIRECTOR OF THE SCHOOL AND PAID PREPARER AND ELECTRONICALLY FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE SCHOOL'S BOARD, ADMINISTRATION, FACULTY, STAFF AND COMMITTEES (AN "INDIVIDUAL") MUST AVOID INCURRING ANY KIND OF UNDISCLOSED FINANCIAL OR PERSONAL OBLIGATION THAT MIGHT REASONABLY BE EXPECTED TO AFFECT THE INDIVIDUAL'S JUDGMENT IN DEALING WITH OTHER PARTIES ON BEHALF OF THE SCHOOL. IF THERE IS ANY APPEARANCE OF CONFLICT OF INTEREST, EVEN THOUGH THE CONFLICT MAY NOT EXIST IN ACTUALITY, THE INDIVIDUAL SHOULD DISCLOSE THE PARTICULAR SITUATION IN WRITING TO THE DIRECTOR OF THE SCHOOL. IF THE MATTER INVOLVES A MEMBER OF THE BOARD OR A MEMBER OF A BOARD COMMITTEE (A "BOARD INDIVIDUAL"), THE DIRECTOR WILL IN TURN INFORM THE EXECUTIVE COMMITTEE OF THE BOARD. THE DIRECTOR SHALL REVIEW A COPY OF THIS POLICY ANNUALLY AND MAKE ANY RELEVANT DISCLOSURES AT THAT TIME OR AT THE TIME ANY POTENTIAL CONFLICT ARISES IN THE FUTURE. A SIGNED DISCLOSURE IS GIVEN TO THE DIRECTOR AND FOR A BOARD "INDIVIDUAL" THIS DISCLOSURE IS RETAINED ON FILE WITH OTHER BOARD MATERIALS IN THE DIRECTOR'S OFFICE. EACH EMPLOYEE SHALL ALSO ANNUALLY REVIEW THIS POLICY AND MAKE ANY RELEVANT DISCLOSURES AT THAT TIME OR AT THE TIME ANY POTENTIAL CONFLICT ARISES IN THE FUTURE. THESE DISCLOSURE DOCUMENTS ARE GIVEN TO THE DIRECTOR AND RETAINED ON FILE IN THE DIRECTOR'S OFFICE. FORM 990, PART VI, SECTION B, LINE 15A THE KEY EMPLOYEE (DIRECTOR) DRAFTS AN ANNUAL LETTER OF AGREEMENT (MEMORANDUM OF UNDERSTANDING) IN THE EARLY FALL OF THE CURRENT ACADEMIC YEAR AS WELL AS FISCAL YEAR OUTLINING HIS GOALS AND OBJECTIVES FOR THAT YEAR. THIS AGREEMENT IS SIGNED BY THE KEY EMPLOYEE AND THE PRESIDENT OF THE BOARD OF TRUSTEES. BEFORE THE CLOSE OF THE CURRENT ACADEMIC AND FISCAL YEAR, THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES GOES INTO CLOSED SESSION AND DISCUSSES THE PROGRESS MADE ON THE DIRECTOR'S GOALS AND OBJECTIVES AS OUTLINED IN THE EARLY FALL. SUBSEQUENTLY, THE BOARD PRESIDENT, VICE PRESIDENT, AND PAST PRESIDENT OF THE BOARD OF TRUSTEES MEET AND WITH THE FEEDBACK OBTAINED FROM THE EXECUTIVE COMMITTEE MEETING DRAFT THE COMPENSATION AGREEMENT FOR THE DIRECTOR FOR THE UPCOMING ACADEMIC AND FISCAL YEAR. THE PRESIDENT OF THE BOARD INFORMS THE KEY EMPLOYEE AS WELL AS THE FINANCIAL OFFICE OF THE SCHOOL OF THE AMOUNT OF COMPENSATION PACKAGE WHICH COULD INCLUDE ANNUAL COMPENSATION, BONUS AND/OR PAYMENT OF DEFERRED COMPENSATION UNDER SECTION 457 OF THE IRS CODE. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOLS BY-LAWS ARE INCLUDED IN EACH EMPLOYEE'S PERSONNEL MANUAL. THE CONFLICT OF INTEREST SIGNED DISCLOSURE FORMS FOR BOTH MEMBERS OF THE BOARD OF TRUSTEES AND ITS COMMITTEES AS WELL AS EMPLOYEES ARE MAINTAINED IN THE DIRECTOR'S OFFICE. THESE ARE AVAILABLE UPON REQUEST. INTERNAL FINANCIAL STATEMENTS OF THE SCHOOL ARE REGULARLY REVIEWED BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES AS WELL AS THE BOARD OF TRUSTEES AT ITS MEETINGS. AUDITED FINANCIAL STATEMENTS FOR THE FISCAL YEAR ARE REVIEWED BY THE FINANCE COMMITTEE OF THE BOARD AS WELL AS THE BOARD OF TRUSTEES AT ONE OF ITS REGULARLY SCHEDULED MEETINGS. THESE HAVE BEEN PRESENTED TO THE FINANCE COMMITTEE IN DRAFT FORM BY THE AUDIT FIRM CHOSEN TO CONDUCT THE ANNUAL AUDIT PRIOR TO THE FINAL PRESENTATION TO THE BOARD OF DIRECTORS AT ITS MEETING. ANY OF THE SCHOOL'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY DOCUMENTS, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: ROUNDING -1. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.