WESTERN RESERVE ACADEMY: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- WESTERN RESERVE ACADEMY (EIN 34-0714390)
- Tax period
- 2012-07-01 to 2013-06-30
- Filed
- 2014-05-15
- IRS object ID
- 201431359349303753
- Schema version
- 2012v2.3
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule G
- Schedule I
- Schedule J
- Schedule K
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2014-05-15T10:05:32-05:00 | Timestamp |
| Tax Period End Date | 2013-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MALONEY NOVOTNY LLC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1111 SUPERIOR AVENUE SUITE 700 | AddressLine1 |
| City | CLEVELAND | City |
| State | OH | State |
| ZIP Code | 44114 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 340714390 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WESTERN RESERVE ACADEMY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Care Of Name | % JULIE MELVIN | InCareOfName |
| Name Control | WEST | NameControl |
| Phone | 3306504400 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 115 COLLEGE STREET | AddressLine1 |
| Address Line2 | Suite | AddressLine2 |
| City | HUDSON | City |
| State | OH | State |
| ZIP Code | 442362926 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JULIE MELVIN | Name |
| Title | ACTING CHIEF FINANCIAL OFFICER | Title |
| Phone | 3306504400 | Phone |
| Date Signed | 2014-05-02 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | CHRISTOPHER B ANDERSON | Name |
| Phone | 2163630100 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2015-11-30 17:44:51Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | Christopher D Burner | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 115 COLLEGE STREET | AddressLine1 |
| City | HUDSON | City |
| State | OH | State |
| ZIP Code | 442362926 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 47056391 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.WRA.NET | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1826 | YearFormation |
| State Legal Domicile | OH | StateLegalDomicile |
| Activity Or Mission Description | THE MISSION OF THE ACADEMY IS AS FOLLOWS: A WESTERN RESERVE ACADEMY EDUCATION OFFERS A TRANSFORMATIONAL EXPERIENCE WHERE STUDENTS STRIVE FOR EXCELLENCE, LIVE WITH INTEGRITY, AND ACT WITH COMPASSION. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 26 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 26 | NbrIndependentVotingMembers |
| Total Nbr Employees | 249 | TotalNbrEmployees |
| Total Nbr Volunteers | 50 | TotalNbrVolunteers |
| Total Gross UBI | -157686 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -157686 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 2657835 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 6502608 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 16528998 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 17477609 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 2346314 | InvestmentIncomePriorYear |
| Investment Income Current Year | 4332095 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 157219 | OtherRevenuePriorYear |
| Other Revenue Current Year | 139258 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 21690366 | TotalRevenuePriorYear |
| Total Revenue Current Year | 28451570 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 4937696 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 5532568 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 12063340 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 11831969 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 1689196 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 10146223 | OtherExpensePriorYear |
| Other Expenses Current Year | 9492296 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 27147259 | TotalExpensesPriorYear |
| Total Expenses Current Year | 26856833 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -5456893 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 1594737 | RevenuesLessExpensesCY |
| Total Assets BOY | 158701669 | TotalAssetsBOY |
| Total Assets EOY | 161781223 | TotalAssetsEOY |
| Total Liabilities BOY | 29858711 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 28956164 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 128842958 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 132825059 | NetAssetsOrFundBalancesEOY |
| Mission Description | THE MISSION OF THE ACADEMY IS AS FOLLOWS: A WESTERN RESERVE ACADEMY EDUCATION OFFERS A TRANSFORMATIONAL EXPERIENCE WHERE STUDENTS STRIVE FOR EXCELLENCE, LIVE WITH INTEGRITY, AND ACT WITH COMPASSION. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Expense | 22068085 | Expense |
| Grants | 5532568 | Grants |
| Revenue | 17477609 | Revenue |
| Description | The Academy is a secondary co-educational school with approximately 400 students. Our faculty cultivates intellectual curiosity through a challenging college preparatory program; our students pursue a rigorous liberal arts curriculum and engage in opportunities beyond the classroom in arts, athletics, and service, ensuring growth in mind, body, and spirit. The Academy's close-knit community instills individual and social responsibility, while preparing students as citizens and leaders in an increasingly interconnected world. | Description |
| Total Program Service Expense | 22068085 | TotalProgramServiceExpense |
| Described In501 C3 | true | DescribedIn501C3 |
| Schedule B Required | true | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Lobbying Activities | false | LobbyingActivities |
| Subject To Proxy Tax | false | SubjectToProxyTax |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | true | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | true | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | true | ReportFin48Footnote |
| Independent Audit Financial Stmt | true | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | ConsolidatedAuditFinancialStmt |
| School | true | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | true | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | true | GrantsToIndividuals |
| Schedule J Required | true | ScheduleJRequired |
| Tax Exempt Bonds | true | TaxExemptBonds |
| Invest Tax Exempt Bonds | false | InvestTaxExemptBonds |
| Escrow Account | false | EscrowAccount |
| On Behalf Of Issuer | false | OnBehalfOfIssuer |
| Excess Benefit Transaction | false | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | false | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | true | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | true | DisregardedEntity |
| Related Entity | false | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transfers To Exempt Non Chrtbl Org | false | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 25 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 249 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | true | UnrelatedBusinessIncome |
| Form990-T Filed | true | Form990-TFiled |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Quid Pro Quo Contributions | false | QuidProQuoContributions |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | false | FundsToPayPremiums |
| Premiums Paid | false | PremiumsPaid |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 26 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 26 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | false | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | false | MembersOrStockholders |
| Election Of Board Members | false | ElectionOfBoardMembers |
| Decisions Subject To Approval | false | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | true | CompensationProcessCEO |
| Compensation Process Other | true | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | OH | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | JULIE MELVIN | NamePerson |
| Telephone Number | 3306504400 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 115 COLLEGE STREET | AddressLine1 |
| City | HUDSON | City |
| State | OH | State |
| ZIP Code | 442362926 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (34 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Highest Compensated EmployeeHighestCompensatedEmployee | FormerFormer |
|---|---|---|---|---|---|---|---|---|
| David A Alpern | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| James D Chambers | ||||||||
| Treasurer Board of Trustees | 1.0 | X | 0 | 0 | 0 | X | ||
| Daniel W Christman | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| Stephan W Cole | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| Dagmar F Fellowes | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| John M Fowler | ||||||||
| Asst Treasurer Board of Truste | 1.0 | X | 0 | 0 | 0 | X | ||
| Martin D Franks | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| Mark R Hamlin Jr | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| Olin J Heestand Jr | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| John P Hewko | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| Deborah D Hoover | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| David M Hunter | ||||||||
| Secretary Board of Trustees | 1.0 | X | 0 | 0 | 0 | X | ||
| Jude D Kearney | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| Nathaniel E Leonard | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| Cecily Pryce Maguire | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| Robert T Michael | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| Andrew R Midler | ||||||||
| Co-President Board of Trustees | 1.0 | X | 0 | 0 | 0 | X | ||
| Mary Katherine Ong-Landini | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| Gregory Pennington | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| William H Roberts | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| Hewitt B Shaw | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| Mark R Tercek | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| Timothy R Warner | ||||||||
| Co-President Board of Trustees | 1.0 | X | 0 | 0 | 0 | X | ||
| L Spencer Wells | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| Mark H Wiedenmann | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| Jason M Wortendyke | ||||||||
| Trustee | 1.0 | X | 0 | 0 | 0 | |||
| Christopher D Burner | ||||||||
| Head of School | 40.0 | 275498 | 0 | 53399 | X | |||
| John J Tortelli | ||||||||
| CFO | 40.0 | 170693 | 0 | 45429 | X | |||
| Kathryn Mueller | ||||||||
| Dean of Faculty | 40.0 | 130565 | 0 | 38644 | X | |||
| Nancy C Hovan | ||||||||
| Director of Development | 40.0 | 126228 | 0 | 38691 | X | |||
| Anne F Sheppard | ||||||||
| Director of Admission & Financ | 40.0 | 114451 | 0 | 37724 | X | |||
| Jeffrey L Jacot | ||||||||
| Director of Physical Plant | 40.0 | 110205 | 0 | 32292 | X | |||
| Ruth DS Andrews | ||||||||
| Major Gift Officer | 40.0 | 104486 | 0 | 31403 | X | |||
| James A Gundy | ||||||||
| Asst Head of School for Instit | 40.0 | 175614 | 0 | 31264 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1207740 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 308846 | TotalOtherCompensation |
| Number Individuals GT100 K | 8 | NumberIndividualsGT100K |
| Formers Listed | true | FormersListed |
| Total Comp GT150 K | true | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation
Name Of Contractor NameOfContractor
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | CAMBRIDGE ASSOCIATES LLC | NamePerson |
Address Of Contractor AddressOfContractor
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | POBox 10312 | AddressLine1 |
| City | UNIONDALE | City |
| State | NY | State |
| ZIP Code | 11555 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description Of Services | PORTFOLIO ADVISOR | DescriptionOfServices |
| Compensation | 207009 | Compensation |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 1 | NumberOfContractorsGT100K |
| All Other Contributions | 6502608 | AllOtherContributions |
| Noncash Contributions | 858498 | NoncashContributions |
| Total Contributions | 6502608 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| BOARDING STUDENTS | 900099 | 11161500 | 11161500 |
| DAY STUDENTS | 900099 | 4935750 | 4935750 |
| RELATED ENTERPRISES | 900099 | 1380359 | 1380359 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 17477609 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3767774 | TotalRevenueColumn |
| Unrelated Business Revenue | -157686 | UnrelatedBusinessRevenue |
| Exclusion | $3,925,460 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 0 | Real |
| Personal | 0 | Personal |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 19074055 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 18509734 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 564321 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 564321 | TotalRevenueColumn |
| Exclusion | $564,321 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Fundraising Events | 234345 | GrossIncomeFundraisingEvents |
| Fundraising Direct Expenses | 95087 | FundraisingDirectExpenses |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 139258 | TotalRevenueColumn |
| Exclusion | $139,258 | ExclusionAmount |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 0 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 28451570 | TotalRevenueColumn |
| Related Or Exempt Function Income | 17477609 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | -157686 | UnrelatedBusinessRevenue |
| Exclusion | $4,629,039 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5532568 | Total |
| Program Services | 5532568 | ProgramServices |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 457600 | Total |
| Program Services | 114400 | ProgramServices |
| Management And General | 228800 | ManagementAndGeneral |
| Fundraising | 114400 | Fundraising |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8237298 | Total |
| Program Services | 6229596 | ProgramServices |
| Management And General | 1118169 | ManagementAndGeneral |
| Fundraising | 889533 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 787728 | Total |
| Program Services | 669569 | ProgramServices |
| Management And General | 63018 | ManagementAndGeneral |
| Fundraising | 55141 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1621040 | Total |
| Program Services | 1377884 | ProgramServices |
| Management And General | 129683 | ManagementAndGeneral |
| Fundraising | 113473 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 728303 | Total |
| Program Services | 619058 | ProgramServices |
| Management And General | 58264 | ManagementAndGeneral |
| Fundraising | 50981 | Fundraising |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 79642 | Total |
| Program Services | 39821 | ProgramServices |
| Management And General | 39821 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 57000 | Total |
| Management And General | 57000 | ManagementAndGeneral |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 626061 | Total |
| Management And General | 626061 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 822450 | Total |
| Program Services | 822450 | ProgramServices |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 240258 | Total |
| Program Services | 240258 | ProgramServices |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 351025 | Total |
| Program Services | 298371 | ProgramServices |
| Management And General | 28082 | ManagementAndGeneral |
| Fundraising | 24572 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 212482 | Total |
| Program Services | 180609 | ProgramServices |
| Management And General | 16999 | ManagementAndGeneral |
| Fundraising | 14874 | Fundraising |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2044193 | Total |
| Program Services | 1941983 | ProgramServices |
| Management And General | 61326 | ManagementAndGeneral |
| Fundraising | 40884 | Fundraising |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 192348 | Total |
| Program Services | 57704 | ProgramServices |
| Fundraising | 134644 | Fundraising |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 23656 | Total |
| Program Services | 22473 | ProgramServices |
| Management And General | 710 | ManagementAndGeneral |
| Fundraising | 473 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 250020 | Total |
| Management And General | 250020 | ManagementAndGeneral |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1378255 | Total |
| Program Services | 1309342 | ProgramServices |
| Management And General | 41348 | ManagementAndGeneral |
| Fundraising | 27565 | Fundraising |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 212276 | Total |
| Program Services | 201662 | ProgramServices |
| Management And General | 6368 | ManagementAndGeneral |
| Fundraising | 4246 | Fundraising |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| FOOD SERVICE | 573743 | 573743 | ||
| AUXILIARY ENTERPRISES | 227830 | 227830 | ||
| RESTRICTED STUDENT EXP. | 556306 | 556306 | ||
| OTHER | 1644751 | 1052458 | 373883 | 218410 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 26856833 | Total |
| Program Services | 22068085 | ProgramServices |
| Management And General | 3099552 | ManagementAndGeneral |
| Fundraising | 1689196 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3394314 | BOY |
| EOY | 2797757 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1224885 | BOY |
| EOY | 3696282 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1616301 | BOY |
| EOY | 2756342 | EOY |
Receivables From Officers Etc ReceivablesFromOfficersEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Receivables From Disqual Persons ReceivablesFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 18134 | BOY |
| EOY | 16384 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 152040 | BOY |
| EOY | 172161 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 71083851 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 24381248 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 46890177 | BOY |
| EOY | 46702603 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 45319321 | BOY |
| EOY | 28526720 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 59392991 | BOY |
| EOY | 76456890 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 117513 | BOY |
| EOY | 104942 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 575993 | BOY |
| EOY | 551142 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 158701669 | BOY |
| EOY | 161781223 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 759383 | BOY |
| EOY | 1061281 | EOY |
Grants Payable GrantsPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6184775 | BOY |
| EOY | 6406450 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 19027000 | BOY |
| EOY | 18405000 | EOY |
Escrow Account Liability EscrowAccountLiability
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Loans From Officers Directors LoansFromOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3887553 | BOY |
| EOY | 3083433 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 29858711 | BOY |
| EOY | 28956164 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 39661226 | BOY |
| EOY | 39247694 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14941829 | BOY |
| EOY | 17223047 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 74239903 | BOY |
| EOY | 76354318 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 128842958 | BOY |
| EOY | 132825059 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 158701669 | BOY |
| EOY | 161781223 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 1594737 | ReconcilationRevenueExpenses |
| Reconciliation Unrealized Invest | 1723134 | ReconciliationUnrealizedInvest |
| Reconcilation Other Changes | 664230 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Separate | X | FinancialStatementSeparate |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | true | AuditCommittee |
| Federal Grant Audit Required | false | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School170b1 Aii | X | School170b1Aii |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Art Public Exhibition Amts | ArtPublicExhibitionAmts | |
| Held Works Of Art Amts | HeldWorksOfArtAmts |
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 54678111 | BeginningOfYearBalance |
| Contributions | 1517635 | Contributions |
| Investment Earnings Or Losses | 3387583 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 822391 | GrantsOrScholarships |
| Other Expenditures | 2700378 | OtherExpenditures |
| End Of Year Balance | 56060560 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 56583289 | BeginningOfYearBalance |
| Contributions | 1330550 | Contributions |
| Investment Earnings Or Losses | 301499 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 1152183 | GrantsOrScholarships |
| Other Expenditures | 2385044 | OtherExpenditures |
| End Of Year Balance | 54678111 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 51423245 | BeginningOfYearBalance |
| Contributions | 1608225 | Contributions |
| Investment Earnings Or Losses | 5919216 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 862164 | GrantsOrScholarships |
| Other Expenditures | 1505233 | OtherExpenditures |
| End Of Year Balance | 56583289 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 47062845 | BeginningOfYearBalance |
| Contributions | 2551123 | Contributions |
| Investment Earnings Or Losses | 5615580 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 1510601 | GrantsOrScholarships |
| Other Expenditures | 2295702 | OtherExpenditures |
| End Of Year Balance | 51423245 | EndOfYearBalance |
Current Year Minus4 Years CurrentYearMinus4Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 56548124 | BeginningOfYearBalance |
| Contributions | 3103257 | Contributions |
| Investment Earnings Or Losses | -11620408 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 725025 | GrantsOrScholarships |
| Other Expenditures | 243103 | OtherExpenditures |
| End Of Year Balance | 47062845 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.27430 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.47490 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.25080 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | false | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | false | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1636412 | OtherCostOrOtherBasis |
| Book Value | 1636412 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 64520279 | OtherCostOrOtherBasis |
| Depreciation | 20914553 | Depreciation |
| Book Value | 43605726 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Leasehold Improvements | LeaseholdImprovements |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 4247203 | OtherCostOrOtherBasis |
| Depreciation | 3466695 | Depreciation |
| Book Value | 780508 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 679957 | OtherCostOrOtherBasis |
| Book Value | 679957 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 46702603 | TotalOfBookValueLandBuildings |
| Financial Derivatives | FinancialDerivatives | |
| Closely Held Equity Interests | CloselyHeldEquityInterests |
Other Securities OtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | ALTERNATIVE INVESTMENTS | Description |
| Book Value | 76456890 | BookValue |
| Method Of Valuation | F | MethodOfValuation |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 76456890 | TotalOfBookValueSecurities |
| Federal Income Tax Liability | 0 | FederalIncomeTaxLiability |
Other Liabilities OtherLiabilities (2 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| ANNUITIES PAYABLE | $1,603,702 |
| INTEREST RATE SWAP | $1,479,731 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 3083433 | TotalOfAmounts |
| Tot Revenue Etc Audited Fincl Stmt | 24680304 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 1723134 | NetUnrealizedGainsInvestments |
| Other Revenues | 664230 | OtherRevenues |
| Revenue Not Rptd F990 | 2387364 | RevenueNotRptdF990 |
| Revenue Subtotal | 22292940 | RevenueSubtotal |
| Investment Expenses Not Included | 626062 | InvestmentExpensesNotIncluded |
| Other Revenues Not Included | 5532568 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 6158630 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 28451570 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 20698203 | TotExpensesEtcAuditedFinclStmt |
| Expenses Subtotal | 20698203 | ExpensesSubtotal |
| Investment Expenses Not Included2 | 626062 | InvestmentExpensesNotIncluded2 |
| Other Expenses Not Included | 5532568 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 6158630 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 26856833 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIII Form990ScheduleDPartXIII (5 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Other Changes in Revenue, | Part XI, Line 2D: | CHANGE IN VALUE OF INTEREST RATE SWAP $797,822; CHANGE IN SPLIT INTEREST AGREEMENTS ($133,592); TOTAL ADJUSTMENT = $664,230. |
| OTHER CHANGES IN REVENUE, | PART XI, LINE 4B: | STUDENT FINANCIAL AID, WHICH WAS NETTED WITH TUITION REVENUE ON THE FINANCIAL STATEMENTS BUT SHOWN AS AN EXPENSE IN PART IX OF FORM 990: $5,532,568. |
| OTHER CHANGES IN EXPENSES, | PART XII, LINE 4B: | STUDENT FINANCIAL AID, WHICH WAS NETTED WITH TUITION REVENUE ON THE FINANCIAL STATEMENTS BUT SHOWN AS AN EXPENSE IN PART IX OF FORM 990: $5,532,568. |
| INTENDED USES OF ENDOWMENT FUNDS, | PART V, LINE 4: | THE ACADEMY INVESTS ENDOWMENT FUNDS ACCORDING TO BOARD-APPROVED INVESTMENT POLICIES WHICH GOVERN ASSET ALLOCATION IN AN EFFORT TO REDUCE RISK OF LOSS AND TO GENERATE A REAL ANNUAL COMPOUND RATE OF RETURN AT LEAST EQUAL TO THE ANNUAL PAYOUT PERCENTAGE. THE ANNUAL PAYOUT FROM ENDOWMENT FUNDS IS LIMITED TO 5% OF THE THREE YEAR AVERAGE WEIGHTED MARKET VALUE OF INVESTABLE ASSETS IN THE PERMANENTLY RESTRICTED FUND AND ARE SUBJECT TO BOARD APPROVAL. THE PAYOUT IS SPENT ON ACTIVITIES WHICH FURTHER THE EXEMPT EDUCATIONAL PURPOSES OF THE ACADEMY. |
| FIN 48 (ASC 740) FOOTNOTE, | PART X, LINE 2: | FEDERAL INCOME TAXES - THE ACADEMY IS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(c)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES. THERE WERE NO UNRECOGNIZED TAX BENEFITS AS OF JUNE 30, 2013. AS OF JUNE 30, 2013, THE ACADEMY'S INCOME TAX YEARS FROM 2009 AND THEREAFTER REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, AS WELL AS VARIOUS STATE AND LOCAL TAXING AUTHORITIES. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | true | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | true | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | true | PolicyPublViaBroadcastMedia |
| Maint Racial Composition Records | true | MaintRacialCompositionRecords |
| Maint Scholarships Records | true | MaintScholarshipsRecords |
| Maint Copies Of Brochures Etc | true | MaintCopiesOfBrochuresEtc |
| Maint Copies Of All Solicitations | true | MaintCopiesOfAllSolicitations |
| Discriminate Race Students Rights | false | DiscriminateRaceStudentsRights |
| Discriminate Race Admiss Policies | false | DiscriminateRaceAdmissPolicies |
| Discriminate Race Emplmn Faculty | false | DiscriminateRaceEmplmnFaculty |
| Discriminate Race Scholarships | false | DiscriminateRaceScholarships |
| Discriminate Race Educ Policies | false | DiscriminateRaceEducPolicies |
| Discriminate Race Use Of Fclts | false | DiscriminateRaceUseOfFclts |
| Discriminate Race Athletic Prog | false | DiscriminateRaceAthleticProg |
| Discriminate Race Other Acty | false | DiscriminateRaceOtherActy |
| Government Financial Aid Received | false | GovernmentFinancialAidReceived |
| Compliance With Rev Proc7550 | true | ComplianceWithRevProc7550 |
Form990 Schedule E Part II Form990ScheduleEPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PUBLICATION OF RACIALLY NONDISCRIMINATORY POLICY, | Identifier |
| Return Reference | PART I, LINE 3: | ReturnReference |
| Explanation | WESTERN RESERVE ACADEMY PUBLICIZES ITS POLICY IN LOCAL NEWSPAPERS DURING THE TIME WHICH IS THE PERIOD OF STUDENT SOLICITATION. | Explanation |
Schedule G IRS990ScheduleG
Events Information EventsInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Event1 | ANTIQUES FEST. | NameOfEvent1 |
| Gross Receipts Event1 | 63126 | GrossReceiptsEvent1 |
| Gross Revenue Event1 | 63126 | GrossRevenueEvent1 |
| Other Direct Expenses Event1 | 27907 | OtherDirectExpensesEvent1 |
| Name Of Event2 | SILENT AUCTION | NameOfEvent2 |
| Gross Receipts Event2 | 171219 | GrossReceiptsEvent2 |
| Gross Revenue Event2 | 171219 | GrossRevenueEvent2 |
| Other Direct Expenses Event2 | 67180 | OtherDirectExpensesEvent2 |
| Total Number Of Other Events | 0 | TotalNumberOfOtherEvents |
| Gross Receipts Total | 234345 | GrossReceiptsTotal |
| Gross Revenue Total Events | 234345 | GrossRevenueTotalEvents |
| Other Direct Expenses Total Events | 95087 | OtherDirectExpensesTotalEvents |
| Direct Expense Summary Events | 95087 | DirectExpenseSummaryEvents |
| Net Income Summary | 139258 | NetIncomeSummary |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | true | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | SCHOLARSHIPS FOR STUDENTS | TypeOfGrant |
| Number Of Recipients | 188 | NumberOfRecipients |
| Amount Of Cash Grant | 5532568 | AmountOfCashGrant |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Monitoring use of Grant Funds, | Identifier |
| Return Reference | Part I, Line 2: | ReturnReference |
| Explanation | THE ACADEMY ENSURES THAT ITS FINANCIAL AID GRANTS ARE USED FOR EDUCATIONAL PURPOSES BY CREDITING THE AMOUNTS DIRECTLY TO THE STUDENTS' ACCOUNTS RATHER THAN ISSUING CHECKS. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | X | HousingAllowanceOrResidence |
| Club Dues Or Fees | X | ClubDuesOrFees |
| Written Policy Re T And E Expenses | true | WrittenPolicyReTAndEExpenses |
| Substantiation Required | true | SubstantiationRequired |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | false | SeverancePayment |
| Supplemental Nonqual Retire Plan | false | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | false | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | false | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | false | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | false | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | false | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | false | AnyNonFixedPayments |
| Initial Contract Exception | false | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (6 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Christopher D Burner | ||||||||||||||
| Head of School | 235498 | 0 | 40000 | 0 | 0 | 0 | 26162 | 0 | 27237 | 0 | 328897 | 0 | 0 | 0 |
| John J Tortelli | ||||||||||||||
| CFO | 170693 | 0 | 0 | 0 | 0 | 0 | 19964 | 0 | 25465 | 0 | 216122 | 0 | 0 | 0 |
| Kathryn Mueller | ||||||||||||||
| Dean of Faculty | 120565 | 0 | 10000 | 0 | 0 | 0 | 13981 | 0 | 24663 | 0 | 169209 | 0 | 0 | 0 |
| Nancy C Hovan | ||||||||||||||
| Director of Development | 121228 | 0 | 5000 | 0 | 0 | 0 | 14088 | 0 | 24603 | 0 | 164919 | 0 | 0 | 0 |
| Anne F Sheppard | ||||||||||||||
| Director of Admission & Financ | 114451 | 0 | 0 | 0 | 0 | 0 | 13300 | 0 | 24424 | 0 | 152175 | 0 | 0 | 0 |
| James A Gundy | ||||||||||||||
| Asst Head of School for Instit | 175614 | 0 | 0 | 0 | 0 | 0 | 10018 | 0 | 21246 | 0 | 206878 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | BENEFITS PROVIDED TO CERTAIN OFFICERS, | Identifier |
| Return Reference | Part I, Line 1A: | ReturnReference |
| Explanation | The Head of School is provided housing as a part of his job duties. Additionally, dues for one social club are paid by Western Reserve Academy. The social club is used only for Academy business. Neither of these items is treated as taxable compensation. | Explanation |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SUMMIT COUNTY PORT AUTHORITY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Issuer EIN | 341765940 | IssuerEIN |
| Date Issued | 2011-05-26 | DateIssued |
| Issue Price | 19600000 | IssuePrice |
| Description Of Purpose | REFINANCING OF 2002 BONDS | DescriptionOfPurpose |
| Defeased | false | Defeased |
| On Behalf Of Issuer | false | OnBehalfOfIssuer |
| Pool Financing | false | PoolFinancing |
Form990 Schedule K Part II Form990ScheduleKPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Amount Retired | 19350000 | AmountRetired |
| Amount Bond Defeased | 0 | AmountBondDefeased |
| Total Proceeds | 19600000 | TotalProceeds |
| Amount In Reserve Fund | 0 | AmountInReserveFund |
| Capitalized Interest | 0 | CapitalizedInterest |
| Refunding Escrow | 0 | RefundingEscrow |
| Issuance Costs From Proceeds | 250000 | IssuanceCostsFromProceeds |
| Credit Enhancement | 0 | CreditEnhancement |
| Working Capital Expenditures | 0 | WorkingCapitalExpenditures |
| Capital Expenditures | 0 | CapitalExpenditures |
| Other Spent Proceeds | 0 | OtherSpentProceeds |
| Amount Unspent | 0 | AmountUnspent |
| Year Of Subst Completion | 2011 | YearOfSubstCompletion |
| Current Refunding | true | CurrentRefunding |
| Advance Refunding | false | AdvanceRefunding |
| Final Allocation Made | true | FinalAllocationMade |
| Adequate Books And Recds Maintaind | true | AdequateBooksAndRecdsMaintaind |
Form990 Schedule K Part III Form990ScheduleKPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | false | OwningBondFinancedProperty |
| Any Lease Arrangements | false | AnyLeaseArrangements |
| Mngment Cntrct Bond Financd Prprty | false | MngmentCntrctBondFinancdPrprty |
| Any Research Agreements | false | AnyResearchAgreements |
| Prcntge Prvt Business Use By Others | 0.00000 | PrcntgePrvtBusinessUseByOthers |
| Percentage Of Prvt Business Re UBI | 0.00000 | PercentageOfPrvtBusinessReUBI |
| Total Private Business Use | 0.00000 | TotalPrivateBusinessUse |
| Bond Iss Meet Prvt Security Pay Test | false | BondIssMeetPrvtSecurityPayTest |
| Change In Use Bond Financed Prop | false | ChangeInUseBondFinancedProp |
| Remedial Action Taken | false | RemedialActionTaken |
| Non Qualified Bond Remed Procdrs | false | NonQualifiedBondRemedProcdrs |
Form990 Schedule K Part IV Form990ScheduleKPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | false | Form8038TFiled |
| Rebate Not Due Yet | true | RebateNotDueYet |
| Exception To Rebate | false | ExceptionToRebate |
| No Rebate Due | false | NoRebateDue |
| Variable Rate Issue | true | VariableRateIssue |
| Hedge Identified In Books And Recds | true | HedgeIdentifiedInBooksAndRecds |
Name Of Hedge Provider NameOfHedgeProvider
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JP MORGAN | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Term Of Hedge | 20. | TermOfHedge |
| Superintegrated Hedge | false | SuperintegratedHedge |
| Hedge Terminated | false | HedgeTerminated |
| Gross Proceeds Invested In GIC | false | GrossProceedsInvestedInGIC |
Name Of GIC Provider NameOfGICProvider
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | 0 | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Proceeds Invested | false | GrossProceedsInvested |
| Written Proc To Monitor Reqs | true | WrittenProcToMonitorReqs |
Form990 Schedule K Part V Form990ScheduleKPartV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Proc To Undertk Corrective Action | false | ProcToUndertkCorrectiveAction |
Schedule M IRS990ScheduleM
| Field | Value | IRS element (for citing) |
|---|---|---|
| Works Of Art | WorksOfArt | |
| Art Historical Treasures | ArtHistoricalTreasures | |
| Art Fractional Interest | ArtFractionalInterest | |
| Books And Publications | BooksAndPublications | |
| Clothing And Household Goods | ClothingAndHouseholdGoods | |
| Cars And Other Vehicles | CarsAndOtherVehicles | |
| Boats And Planes | BoatsAndPlanes | |
| Intellectual Property | IntellectualProperty |
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 49 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 858498 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenues |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities Closely Held Stock | SecuritiesCloselyHeldStock | |
| Securities Prtnrshp Trust Intrsts | SecuritiesPrtnrshpTrustIntrsts | |
| Securities Miscellaneous | SecuritiesMiscellaneous | |
| Qualified Contrib Hist Struct | QualifiedContribHistStruct | |
| Qualified Contrib Other | QualifiedContribOther | |
| Real Estate Residential | RealEstateResidential | |
| Real Estate Commercial | RealEstateCommercial | |
| Real Estate Other | RealEstateOther | |
| Collectibles | Collectibles | |
| Food Inventory | FoodInventory | |
| Drugs And Medical Supplies | DrugsAndMedicalSupplies | |
| Taxidermy | Taxidermy | |
| Historical Artifacts | HistoricalArtifacts | |
| Scientific Specimens | ScientificSpecimens | |
| Archaeological Artifacts | ArchaeologicalArtifacts | |
| Number Of8283 Received | 0 | NumberOf8283Received |
| Any Property That Must Be Held | false | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | true | ReviewProcessUnusualNCGifts |
| Third Parties Used | true | ThirdPartiesUsed |
Form990 Schedule M Part II Form990ScheduleMPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | USE OF THIRD PARTIES, | Identifier |
| Return Reference | PART I, LINE 32B: | ReturnReference |
| Explanation | THE ACADEMY USES A SECURITIES BROKER TO SELL DONATED SECURITIES. THE FEES CHARGED BY THE BROKER ARE AT OR BELOW FAIR MARKET VALUE. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (5 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| Form 990 Review, | FORM 990, PART VI, LINE 11B: | FORM 990 IS REVIEWED BY A COMMITTEE OF THE BOARD OF TRUSTEES WITH THE BOARD'S AUTHORITY TO OVERSEE THE FILING PROCESS. |
| MONITORING AND ENFORCEMENT OF CONFLICT POLICY, | FORM 990, PART I, LINE 12C: | THE CONFLICT OF INTEREST QUESTIONNAIRES ARE REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. SIGNIFICANT ISSUES ARE DISCUSSED AND RESOLVED. WHEN A CONFLICT ARISES, THE INDIVIDUAL IS NOT PERMITTED TO PARTICIPATE IN THE DISCUSSION OF THE TRANSACTION OR TO VOTE ON THE MATTER. THE DECISION ABOUT THE TRANSACTION IS MADE BY PERSONS WHO ARE INDEPENDENT OF THE INDIVIDUAL WITH THE CONFLICT. |
| COMPENSATION REVIEW AND APPROVAL, | FORM 990, PART VI, LINE 15: | IN JUNE, 2011, MEMBERS OF THE BOARD OF TRUSTEES WERE GIVEN COMPARABILITY DATA FOR ALL MEMBERS OF THE HEAD OF SCHOOL COMMITTEE. THE HEAD OF SCHOOL WAS INVOLVED IN THE DISCUSSIONS FOR THE COMPENSATION FOR THE MEMBERS OF THE HEAD OF SCHOOL COMMITTEE BUT WAS NOT PRESENT FOR THE DISCUSSION OF HIS OWN COMPENSATION. TRUSTEES DETERMINED THE HEAD OF SCHOOL'S COMPENSATION BASED UPON HIS PERFORMANCE RELATIVE TO OTHER SIMILAR POSITIONS. COMPENSATION DECISIONS ARE MADE BY PERSONS WHO ARE INDEPENDENT OF THE EMPLOYEES FOR WHOM COMPENSATION IS BEING DETERMINED. |
| AVAILABILITY OF DOCUMENTS, | FORM 990, PART VI, LINE 19: | THE ACADEMY'S FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE ACADEMY DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT POLICY AVAILABLE. |
| OTHER CHANGES IN NET ASSETS, | FORM 990, PART XI, LINE 5: | CHANGE IN VALUE OF INTEREST RATE SWAP $797,822; CHANGE IN SPLIT INTEREST AGREEMENTS ($133,592); TOTAL ADJUSTMENT: $664,230. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part I Form990ScheduleRPartI
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WHITE TAIL INVESTMENTS LTD | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 115 COLLEGE STREET | AddressLine1 |
| City | HUDSON | City |
| State | OH | State |
| ZIP Code | 44236 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 270257176 | EIN |
| Primary Activities | INVESTMENTS | PrimaryActivities |
| Legal Domicile State | OH | LegalDomicileState |
| Total Income | 315497 | TotalIncome |
| EOY Assets | 7186225 | EOYAssets |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | WRA | BusinessNameLine1 |