2014-05-15T10:05:32-05:00 2013-06-30 MALONEY NOVOTNY LLC 1111 SUPERIOR AVENUE SUITE 700 CLEVELAND OH 44114 990 2012-07-01 340714390 WESTERN RESERVE ACADEMY % JULIE MELVIN WEST 3306504400 115 COLLEGE STREET Suite HUDSON OH 442362926 JULIE MELVIN 3306504400 2014-05-02 true CHRISTOPHER B ANDERSON 2163630100 2012 2015-11-30 17:44:51Z Christopher D Burner 115 COLLEGE STREET HUDSON OH 442362926 47056391 false X WWW.WRA.NET X 1826 OH 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. 26 26 249 50 -157686 -157686 2657835 6502608 16528998 17477609 2346314 4332095 157219 139258 21690366 28451570 4937696 5532568 0 0 12063340 11831969 0 0 1689196 10146223 9492296 27147259 26856833 -5456893 1594737 158701669 161781223 29858711 28956164 128842958 132825059 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. false false 22068085 5532568 17477609 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. 22068085 true true false false false false false false false true true true false false true true true false true false false false false false true false false false true true true false false false false false false false false false false true false false false true false false false false true 25 0 true 249 true true true false false false false false false false false false X 26 26 false false false false false false false true true false false true true true true true true true true false OH X JULIE MELVIN 3306504400 115 COLLEGE STREET HUDSON OH 442362926 David A Alpern 1.0 X 0 0 0 James D Chambers 1.0 X X 0 0 0 Daniel W Christman 1.0 X 0 0 0 Stephan W Cole 1.0 X 0 0 0 Dagmar F Fellowes 1.0 X 0 0 0 John M Fowler 1.0 X X 0 0 0 Martin D Franks 1.0 X 0 0 0 Mark R Hamlin Jr 1.0 X 0 0 0 Olin J Heestand Jr 1.0 X 0 0 0 John P Hewko 1.0 X 0 0 0 Deborah D Hoover 1.0 X 0 0 0 David M Hunter 1.0 X X 0 0 0 Jude D Kearney 1.0 X 0 0 0 Nathaniel E Leonard 1.0 X 0 0 0 Cecily Pryce Maguire 1.0 X 0 0 0 Robert T Michael 1.0 X 0 0 0 Andrew R Midler 1.0 X X 0 0 0 Mary Katherine Ong-Landini 1.0 X 0 0 0 Gregory Pennington 1.0 X 0 0 0 William H Roberts 1.0 X 0 0 0 Hewitt B Shaw 1.0 X 0 0 0 Mark R Tercek 1.0 X 0 0 0 Timothy R Warner 1.0 X X 0 0 0 L Spencer Wells 1.0 X 0 0 0 Mark H Wiedenmann 1.0 X 0 0 0 Jason M Wortendyke 1.0 X 0 0 0 Christopher D Burner 40.0 X 275498 0 53399 John J Tortelli 40.0 X 170693 0 45429 Kathryn Mueller 40.0 X 130565 0 38644 Nancy C Hovan 40.0 X 126228 0 38691 Anne F Sheppard 40.0 X 114451 0 37724 Jeffrey L Jacot 40.0 X 110205 0 32292 Ruth DS Andrews 40.0 X 104486 0 31403 James A Gundy 40.0 X 175614 0 31264 1207740 0 308846 8 true true false CAMBRIDGE ASSOCIATES LLC POBox 10312 UNIONDALE NY 11555 PORTFOLIO ADVISOR 207009 1 6502608 858498 6502608 BOARDING STUDENTS 900099 11161500 11161500 DAY STUDENTS 900099 4935750 4935750 RELATED ENTERPRISES 900099 1380359 1380359 17477609 3767774 -157686 3925460 0 0 0 0 0 19074055 18509734 564321 564321 564321 234345 95087 139258 139258 0 0 0 28451570 17477609 -157686 4629039 0 5532568 5532568 0 0 457600 114400 228800 114400 0 8237298 6229596 1118169 889533 787728 669569 63018 55141 1621040 1377884 129683 113473 728303 619058 58264 50981 0 79642 39821 39821 57000 57000 0 0 626061 626061 822450 822450 240258 240258 351025 298371 28082 24572 212482 180609 16999 14874 0 2044193 1941983 61326 40884 192348 57704 134644 0 23656 22473 710 473 250020 250020 0 1378255 1309342 41348 27565 212276 201662 6368 4246 FOOD SERVICE 573743 573743 AUXILIARY ENTERPRISES 227830 227830 RESTRICTED STUDENT EXP. 556306 556306 OTHER 1644751 1052458 373883 218410 26856833 22068085 3099552 1689196 0 0 3394314 2797757 1224885 3696282 1616301 2756342 0 0 0 0 18134 16384 152040 172161 0 0 71083851 24381248 46890177 46702603 45319321 28526720 59392991 76456890 117513 104942 0 0 575993 551142 158701669 161781223 759383 1061281 0 0 6184775 6406450 19027000 18405000 0 0 0 0 0 0 0 0 3887553 3083433 29858711 28956164 X 39661226 39247694 14941829 17223047 74239903 76354318 128842958 132825059 158701669 161781223 X 1594737 1723134 664230 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 54678111 1517635 3387583 822391 2700378 56060560 56583289 1330550 301499 1152183 2385044 54678111 51423245 1608225 5919216 862164 1505233 56583289 47062845 2551123 5615580 1510601 2295702 51423245 56548124 3103257 -11620408 725025 243103 47062845 0.27430 0.47490 0.25080 false false 1636412 1636412 64520279 20914553 43605726 4247203 3466695 780508 679957 679957 46702603 ALTERNATIVE INVESTMENTS 76456890 F 76456890 0 ANNUITIES PAYABLE 1603702 INTEREST RATE SWAP 1479731 3083433 24680304 1723134 664230 2387364 22292940 626062 5532568 6158630 28451570 20698203 20698203 626062 5532568 6158630 26856833 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. true true true true true true true false false false false false false false false false true PUBLICATION OF RACIALLY NONDISCRIMINATORY POLICY, PART I, LINE 3: WESTERN RESERVE ACADEMY PUBLICIZES ITS POLICY IN LOCAL NEWSPAPERS DURING THE TIME WHICH IS THE PERIOD OF STUDENT SOLICITATION. ANTIQUES FEST. 63126 63126 27907 SILENT AUCTION 171219 171219 67180 0 234345 234345 95087 95087 139258 true SCHOLARSHIPS FOR STUDENTS 188 5532568 Monitoring use of Grant Funds, Part I, Line 2: 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. X X true true X X X false false false false false false false false false Christopher D Burner 235498 0 40000 0 0 0 26162 0 27237 0 328897 0 0 0 John J Tortelli 170693 0 0 0 0 0 19964 0 25465 0 216122 0 0 0 Kathryn Mueller 120565 0 10000 0 0 0 13981 0 24663 0 169209 0 0 0 Nancy C Hovan 121228 0 5000 0 0 0 14088 0 24603 0 164919 0 0 0 Anne F Sheppard 114451 0 0 0 0 0 13300 0 24424 0 152175 0 0 0 James A Gundy 175614 0 0 0 0 0 10018 0 21246 0 206878 0 0 0 BENEFITS PROVIDED TO CERTAIN OFFICERS, Part I, Line 1A: 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. A SUMMIT COUNTY PORT AUTHORITY 341765940 2011-05-26 19600000 REFINANCING OF 2002 BONDS false false false A 19350000 0 19600000 0 0 0 250000 0 0 0 0 0 2011 true false true true A false false false false 0.00000 0.00000 0.00000 false false false false A false true false false true true JP MORGAN 20. false false false 0 false true A false X 49 858498 FMV 0 false true true USE OF THIRD PARTIES, PART I, LINE 32B: THE ACADEMY USES A SECURITIES BROKER TO SELL DONATED SECURITIES. THE FEES CHARGED BY THE BROKER ARE AT OR BELOW FAIR MARKET VALUE. 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. WHITE TAIL INVESTMENTS LTD 115 COLLEGE STREET HUDSON OH 44236 270257176 INVESTMENTS OH 315497 7186225 WRA