2014-10-31T13:50:36-05:00 2014-06-30 232932984 PARENTEBEARD LLC 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990 2013-07-01 231352646 HAVERFORD SCHOOL HAVE 4844172722 450 LANCASTER AVENUE HAVERFORD PA 19041 DAVID S GOLD CFO 4844172722 2014-10-31 1 JULIUS GREEN CPA JD P00350393 2159720701 2013 2015-11-30 17:44:51Z JOHN A NAGL 450 LANCASTER AVENUE HAVERFORD PA 19041 50040309 0 X WWW.HAVERFORD.ORG X 1916 PA A NON-SECTARIAN COLLEGE PREP SCHOOL JR K-12, EDUCATES QUALIFIED BOYS OF DIFFERING BACKGROUNDS. 30 29 465 40 250671 5226 3982727 3699821 31572949 32513001 2298682 4657563 1384616 1394252 39238974 42264637 4708281 4936185 0 0 19179318 19142148 0 0 2827307 11909573 11691127 35797172 35769460 3441802 6495177 144070713 152905043 46080787 45171639 97989926 107733404 X THE HAVERFORD SCHOOL, A NON-SECTARIAN COLLEGE PREPARATORY SCHOOL FOR JUNIOR KINDERGARTEN THROUGH GRADE TWELVE, PROVIDES A SUPERIOR LIBERAL ARTS EDUCATION FOR QUALIFIED BOYS OF DIFFERING BACKGROUNDS. WE ARE COMMITTED TO DEVELOPING THE FULL INTELLECTUAL, ARTISTIC, ATHLETIC AND MORAL POTENTIAL IN EACH BOY, AND WE AIM TO GRADUATE YOUNG MEN WITH STRONG CHARACTER WHO POSSESS A PASSION FOR LEARNING AND PROBLEM SOLVING. 0 0 28627414 4936185 32513001 PREPARING YOUNG MEN ACADEMICALLY FOR THE FUTURE IS UNDOUBTEDLY ONE OF THE MOST VALUABLE BENEFITS OF A HAVERFORD EDUCATION. BUT MORE IMPORTANTLY, WE GIVE BOYS A FOUNDATION OF SKILLS THEY NEED TO LEAD A FULFILLING AND MEANINGFUL LIFE. AS OUR STATEMENT OF VISION READS, "THE HAVERFORD FACULTY PREPARES EACH BOY TO BE FUTURE-READY THROUGH DEVELOPING HIS CHARACTER AND HIS EMOTIONAL INTELLIGENCE, AS WELL AS HIS ACADEMIC, ARTISTIC, AND ATHLETIC TALENTS."THE HAVERFORD SCHOOL INCURS DIRECT INSTRUCTIONAL EXPENSES IN JUNIOR KINDERGARTEN THROUGH GRADE 12, ATHLETIC PROGRAMS, AND OTHER EXTRA-CURRICULAR ACTIVITY EXPENSES FOR APPROXIMATELY 1,009 STUDENTS. 28627414 1 1 0 0 0 0 0 0 0 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 1 0 0 0 1 109 0 1 465 1 1 1 0 0 0 0 1 1 0 0 0 0 X 30 29 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA MA NY NJ X DAVID S GOLD CHIEF FINANCIAL OFFICER 4844172722 450 LANCASTER AVENUE HAVERFORD PA 19041 ELIZABETH MCKEE ANDERSON TRUSTEE 0.50 X 0 0 0 KENNETH L BRIER TRUSTEE 1.50 X 0 0 0 ROBERT C CLOTHIER III ESQUIRE SECRETARY 1.50 X X 0 0 0 JOHN A NAGL HEADMASTER 40.00 X X 235496 0 12645 MAURICE D GLAVIN TRUSTEE 0.50 X 0 0 0 RANDALL T DRAIN JR TRUSTEE 0.50 X 0 0 0 DAVID B FORD JR TREASURER 1.50 X X 0 0 0 RICHARD W GRAHAM II VICE CHAIRMAN 0.50 X X 0 0 0 RICHARD J GREEN TRUSTEE 0.50 X 0 0 0 SUSAN REISBORD TRUSTEE 0.50 2.00 X 0 0 0 GEORGE B LEMMON TRUSTEE 0.50 X 0 0 0 JOHN J LYNCH III TRUSTEE 0.50 X 0 0 0 DAVID J MARTINELLI TRUSTEE 0.50 X 0 0 0 GEORGE C MCFARLAND JR TRUSTEE 0.50 X 0 0 0 SHARON MERHIGE TRUSTEE 0.50 X 0 0 0 LESLIE MUHLFELDER FREEMANN TRUSTEE 0.50 X 0 0 0 ALBERT C OEHRLE TRUSTEE 0.50 X 0 0 0 AMY PETERSEN TRUSTEE 0.50 X 0 0 0 VINCENT A ROSSI TRUSTEE 0.50 X 0 0 0 JOHN F STOVIAK CHAIRMAN 17.50 X X 0 0 0 CAROLINE ROGERS TRUSTEE 0.50 X 0 0 0 PETER ROHR TRUSTEE 0.50 X 0 0 0 MARK D TURNER TRUSTEE 0.50 X 0 0 0 CARTER D WILLIAMS TRUSTEE 0.50 X 0 0 0 THOMAS L WILLIAMS TRUSTEE 0.50 X 0 0 0 JOHN C WILKINS JR TRUSTEE 0.50 X 0 0 0 KENNETH W SCHWENKE TRUSTEE 0.50 X 0 0 0 ROBERT T HASTINGS TRUSTEE 0.50 X 0 0 0 JENNIFER N PECHET TRUSTEE 0.50 X 0 0 0 WILLIAM C YOH VICE CHAIRMAN 7.00 X X 0 0 0 DAVID S GOLD CHIEF FINANCIAL OFFICER 40.00 X 196909 0 54284 JAMES M THORBURN ASSISTANT HEADMASTER 40.00 X 225936 0 27395 JOHN C NOSTRANT ATHLETIC DIRECTOR 40.00 X 159994 0 56191 RONALD F DUSKA HEAD OF LOWER SCHOOL 40.00 X 153754 0 15240 JAMES J GREYTOK JR HEAD OF MIDDLE SCHOOL 40.00 X 164426 0 53499 BRIAN MCBRIDE ASSOC. HEAD EXTERNAL AFFAIRS 40.00 X 162650 0 139727 MATTHEW GREEN HEAD OF UPPER SCHOOL 40.00 X 158284 0 55177 CHARLES BROWN DIR. OF DEVELOPMENT(THRU 6/30/13) 40.00 X 120174 0 28363 SAMUEL D CALDWELL SR. ASSOC. DIR. DEVELOPMENT 40.00 X 126179 0 18876 JOSEPH SWEENEY DIRECTOR OF INNOVATION 40.00 X 126948 0 62321 GEORGE WOOD SENIOR DIRECTOR OF MAJOR GIFTS 40.00 X 118356 0 12033 JOSEPH T COX FORMER HEADMASTER 0.00 X 831322 0 0 2780428 0 535751 13 1 1 0 SODEXO OPERATIONS LLC PO BOX 360170 PITTSBURGH PA 15261 FOOD/FACILITIES MGT 2741709 UNITED AMERICAN SECURITY INC 7610 FALLS OF NEUSE ROAD SUITE 290 RALEIGH NC 27615 SECURITY SERVICE 262361 GOSHEN MECHANICAL CONTRACTORS INC 640 SNYDER AVE UNIT A WEST CHESTER PA 19382 HVAC CONTRACTORS 137409 CLEAR SOUND INC 546 PENN STREET YEADON PA 19050 SOUND DESIGN 125131 TIMOTHY J STEEN 4 QUEEN LANE COATSVILLE PA 19320 CONTRACTING SVC. 120599 5 36350 153000 3510471 222927 3699821 TUITION & FEES 611710 31909599 31909599 DAY CARE PROGRAM 611710 320664 320664 MUSIC LESSONS 611710 155812 155812 ENRICHMENT PROGRAM 611710 126926 126926 32513001 1764956 1764956 200298 177234 23064 23064 23064 10465439 7572832 2892607 2892607 2892607 17070 36350 25606 -8536 -8536 CAFETERIA 611710 967767 32665 935102 SUMMER DAY CAMP 611710 218006 218006 CAFE SALES 611710 118783 118783 75168 75168 1379724 42264637 32513001 250671 5801144 4936185 4936185 1978240 885295 774727 318218 607651 592026 15625 11708296 10047518 594674 1066104 1135268 898726 144101 92441 2705937 2232778 335921 137238 1006756 782793 134312 89651 43916 43916 55169 55169 199211 199211 1772351 1706854 65497 239459 13875 225584 1694706 1466643 151185 76878 192355 192355 2250630 1470139 444493 335998 157441 138554 18887 96690 59007 27214 10469 3291121 2570168 410586 310367 48311 12508 20390 15413 UBI ESTIMATES TAXES 600 600 INSTRUCTIONAL EXPENSES 971861 877452 94409 ATHLETIC DEPARTMENT 276573 276573 DUES & SUBSCRIPTIONS 143935 73193 59298 11444 256798 673 153135 102990 35769460 28627414 4314739 2827307 X 12950 295709 5422571 8362613 6698807 3741696 20789 4447 837273 353422 110010912 34401207 77474039 75609705 41946967 47345700 10970974 16492864 176414 151411 509929 547476 144070713 152905043 3253521 2201902 5203639 5911423 35010000 34340000 2613627 2718314 46080787 45171639 X 72943080 82974492 7072310 6090094 17974536 18668818 97989926 107733404 144070713 152905043 6495177 3248301 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 52802312 3199399 7772075 52701 63721085 45547640 2198407 5056265 52802312 38620045 6641384 286211 45547640 31472044 3742976 3405025 38620045 23695095 4706031 3070918 31472044 0.64320 0.28440 0.07240 0 0 521496 521496 98569093 31021530 67547563 10738726 3379677 7359049 181597 181597 75609705 THE WEATHERLOW OFFSHORE FUND I LTD. 3791252 F SELECTINVEST ARV LTD. 141433 F AG DIVERSIFIED CREDIT STRATEGIES FUND LTD. 2120165 F AG CAPITAL RECOVERY VI HOLDINGS LP 344400 F TIGER ACCELERATOR PARTNERS LP 638032 F PERMIT CAPITAL MORTGAGE FUND, LP 595740 F BRANDYWINE INVESTMENT TRUST 2131551 F FORESTER DIVERSIFIED, LTD. 2478941 F CONATUS CAPITAL OVERSEAS, LTD. 3064470 F EVEREST CAPITAL 1186880 F 16492864 ACCRUED POSTRETIREMENT HEALTH COSTS 279939 INTEREST RATE SWAP AGREEMENTS 2438375 2718314 X 40580380 3248301 3248301 37332079 199211 4733347 4932558 42264637 30836902 202838 202838 30634064 199211 4936185 5135396 35769460 PART V, LINE 4: THE ENDOWMENT FUND SUPPORTS THE MISSION OF THE SCHOOL THROUGH SCHOLARSHIPS, PROGRAM SUPPORT, AND FACULTY SUPPORT. PART X, LINE 2: THE SCHOOL HAS EVALUATED ITS TAX POSITIONS AS OF JUNE 30, 2014. 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, MANAGEMENT BELIEVES NO SIGNIFICANT UNCERTAIN TAX POSITIONS EXIST, EITHER INDIVIDUALLY OR IN THE AGGREGATE, THAT WOULD GIVE RISE TO THE RECOGNITION OF AN INCOME TAX LIABILITY. AS OF JUNE 30, 2014, IN THE OPINION OF MANAGEMENT, THE SCHOOL HAS NO MATERIAL UNRECOGNIZED INCOME TAX LIABILITIES OR ACCRUED INTEREST AND PENALTIES. THE SCHOOL'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR 2013, 2012, 2011, AND 2010 REMAIN SUBJECT TO EXAMINATION BY THE IRS. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -25,604. RENTAL EXPENSES -177,234. GRANTS TO INDIVIDUALS 4,936,185. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 25,604. RENTAL EXPENSES 177,234. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS TO INDIVIDUALS 4,936,185. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE HAVERFORD SCHOOL IS A MEMBER OF A LOCAL CONSORTIUM CALLED "ADVIS" THAT PUBLISHES A NONDISCRIMINATORY STATEMENT IN NEWSPAPERS. SCHEDULE E, PART I, LINE 6 THE SCHOOL RECEIVES BOOKS FROM THE PENNSYLVANIA DEPARTMENT OF EDUCATION. GOLF OUTING 53420 36350 17070 19316 4000 2290 53420 36350 17070 19316 4000 2290 25606 -8536 1 SCHOLARSHIPS & FINANCIAL AID 301 4936185 PART I, LINE 2: GRANT FUNDS ARE DETERMINED USING AN OUTSIDE SERVICE WHICH DETERMINES NEED FOR TUITION ASSISTANCE. THE FUNDS OR TUITION DISCOUNT IS THEN APPLIED AGAINST THE TUITION OBLIGATION AT THE SCHOOL. FAMILIES ARE ASKED TO NOTIFY THE SCHOOL IF THEIR FINANCIAL SITUATION CHANGES. X X X 1 1 X X X X 1 0 0 0 0 0 0 1 0 JOHN A NAGL HEADMASTER 220496 0 0 0 15000 0 0 0 12645 0 248141 0 0 0 DAVID S GOLD CHIEF FINANCIAL OFFICER 196909 0 0 0 0 0 19691 0 34593 0 251193 0 0 0 JAMES M THORBURN ASSISTANT HEADMASTER 178436 0 0 0 47500 0 17843 0 9552 0 253331 0 0 0 JOHN C NOSTRANT ATHLETIC DIRECTOR 118994 0 0 0 41000 0 11899 0 44292 0 216185 0 0 0 RONALD F DUSKA HEAD OF LOWER SCHOOL 123754 0 0 0 30000 0 12375 0 2865 0 168994 0 0 0 JAMES J GREYTOK JR HEAD OF MIDDLE SCHOOL 134426 0 0 0 30000 0 13443 0 40056 0 217925 0 0 0 BRIAN MCBRIDE ASSOC. HEAD EXTERNAL AFFAIRS 162650 0 0 0 0 0 16265 0 123462 0 302377 0 0 0 MATTHEW GREEN HEAD OF UPPER SCHOOL 128284 0 0 0 30000 0 12828 0 42349 0 213461 0 0 0 JOSEPH SWEENEY DIRECTOR OF INNOVATION 126948 0 0 0 0 0 12695 0 49626 0 189269 0 0 0 JOSEPH T COX FORMER HEADMASTER 211617 0 0 0 619705 0 0 0 0 0 831322 0 0 0 PART I, LINE 1A THE SCHOOL PAID AIRFARE FOR THE HEADMASTER'S WIFE TO ATTEND DEVELOPMENT FUNCTIONS (FOR WHICH HIS SPOUSE WAS INVOLVED) AND CONFERENCES FOR WHICH IT WAS APPROPRIATE FOR HER TO BE INCLUDED. THE REIMBURSEMENTS FOR SPOUSAL TRAVEL WAS INCLUDED IN W-2 TAXABLE WAGES. NOTE THE HEADMASTER, JOHN NAGL, RECEIVIES A HOUSING ALLOWANCE THAT IS INCLUDED IN HIS TAXABLE WAGES. THE FAIR MARKET VALUE OF HIS HOUSING ALLOWANCE FOR 2013 WAS $15,000, WHICH REPRESENTED 1/2 YEAR. THE FOLLOWING PERSONNEL ARE REQUIRED TO RESIDE ON CAMPUS AND THEIR HOUSING ALLOWANCES ARE LIKEWISE INCLUDED IN THEIR TAXABLE WAGES: JAMES THORNBURN, JOHN NOSTRANT, RONALD DUSKA, JAMES GREYTOK, AND MATTHEW GREEN. PART I, LINE 4A JOSEPH T. COX, RETIRING HEADMASTER AFTER 15 YEARS OF SERVICE, RECEIVED A RETIREMENT BONUS EQUAL TO ONE YEAR'S SALARY AND BENEFITS. THE RETIREMENT PAY WAS ACCRUED ON THE AUDITED FINANCIALS AT 6/30/13 AND PAID OUT 7/15/13. NOTE THE PAYMENT WAS NOT REFLECTED IN THE HEADMASTER'S CALENDAR YEAR 12/31/12 COMPENSATION BUT IS BE REFLECTED IN SCHEDULE J COMPENSATION FOR THE 2013 RETURN. PART I, LINE 7 THE HEADMASTER RECEIVED A BONUS BASED ON GOALS AND CRITERIA DETERMINED BY THE BOARD ON A DISCRETIONARY BASIS. A MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 613609WH5 2007-03-29 11501946 ADVANCE REFUNDING-T/E BOND ISSUE 4/08/2004 REFUND PRIOR T/E BONDS (LINE C) 0 0 0 B MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 232245125 NONEAVAIL 2010-12-28 30000000 CURRENT REFUNDING T/E BOND ISSUE 6/02/08 TO FINANCE FACILITIES CONSTRUCTION 0 0 0 A 4352946 11501946 7897274 174731 134409 2007 0 1 1 1 B 3000000 30000000 30000000 2010 1 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 1 0 1 0 0 0 1 A 1 B 1 SCHEDULE K SUPPLENTAL INFORMATION PART II, LINE 11, COLUMN B AND C: APPLIED TO REDEEM PRIOR BONDS ON THE DATE OF CLOSING SCHEDULE K, PART IV, LINE 2C NOTE THAT ALL FUNDS NOT IMMEDIATELY DISSEMINATED WERE PLACED INTO A REFUNDING ESCROW ACCOUNT WHOSE INTEREST RATE WAS DELIBERATELY AND CLEARLY LOWER THAN THE RATE ON THE BOND ISSUE ITSELF. THE YIELD ON THE ESCROW WAS VERIFIED AT CLOSING TO BE BELOW THE BOND YIELD AND NO CHANGES HAVE BEEN MADE TO THE ESCROW INVESTMENTS OR BOND YIELD. THEREFORE, MANAGEMENT HAS DETERMINED THAT NO ADDITIONAL REBATE CALCULATION IS REQUIRED." X 126438 PURCHASE PRICE X 15 96489 NYSE PRICE 0 0 0 1 PART I, LINE 32B: STOCK DONATIONS ARE TRANSFERRED TO THE BROKERAGE ACCOUNT WITH VANGUARD. IT IS POLICY TO SELL SECURITIES IMMEDIATELY UPON RECEIPT. FORM 990, PART VI, SECTION A, LINE 1 SOMETIMES THE BROADER BOARD WILL VOTE TO GIVE AUTHORITY TO THE EXECUTIVE COMMITTEE, COMPOSED OF THE CHAIR, TWO VICE CHAIRS, SECRETARY, TREASURER, THREE OTHER MEMBERS AND THE HEADMASTER. THE SCOPE IS ON A CASE BY CASE BASIS. FORM 990, PART VI, SECTION B, LINE 11 THE EXECUTIVE COMMITTEE WILL RECEIVE A COPY OF THE FULL 990 AND APPROVE. THE SCHOOL WILL THEN CIRCULATE THE RETURN IN ITS ENTIRETY TO THE FULL BOARD FOR COMMENTS OR QUESTIONS BEFORE THE RETURN IS TRANSMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY THE BOARD OF TRUSTEES IS REQUIRED TO COMPLETE A CONFLICT QUESTIONNAIRE TO HIGHLIGHT ANY CONFLICTS. BUSINESS AND PERSONAL RELATIONSHIPS ARE SPECIFICALLY MENTIONED IN THE POLICY AS HAVING POTENTIAL FOR CONFLICTS OF INTEREST. THE CHIEF FINANCIAL OFFICER REVIEWS THE FORMS ANNUALLY TO DETERMINE IF ANY CONFLICTS EXIST. IF A POTENTIAL CONFLICT ARISES, THE BOARD MEMBER, OFFICER, OR KEY EMPLOYEE IN QUESTION RECUSES HIMSELF OR HERSELF FROM ANY VOTES OR DECISIONS RELATED TO THE CONFLICT. OFFICERS AND KEY EMPLOYEES ARE HELD RESPONSIBLE FOR ANY POTENTIAL CONFLICTS UNDER THE SCHOOL'S "CODE OF CONDUCT" POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE HEADMASTER'S COMPENSATION IS DETERMINED BY THE CHAIRMAN OF THE BOARD OF TRUSTEES AND THE EXECUTIVE COMMITTEE. THEY ENGAGE AN OUTSIDE CONSULTANT (LITTLEFORD & ASSOCIATES) IN DETERMINING THE HEADMASTER'S CONTRACT. THE CONSULTANT BENCHMARKS/SAFE HARBORS AGAINST OTHER HEADMASTERS IN THE INDUSTRY TO ENSURE THE HEADMASTER'S COMPENSATION IS WITHIN FAIR MARKET RANGE. A CONTRACT WAS JUST SIGNED/REVIEWED IN NOVEMBER 2012. THE EMPLOYMENT CONTRACT'S RENEWAL IS DOCUMENTED IN THE BOARD MINUTES ANNUALLY. THE BOARD OF DIRECTORS IS INFORMED ON AN HISTORICAL BASIS OF THE HEADMASTER'S COMPENSATION. OTHER KEY EMPLOYEES' SALARIES ARE DETERMINED BY THE HEADMASTER, WHO BENCHMARKS SALARIES WITH OTHER SCHOOLS IN THE AREA ON AN ANNUAL BASIS AND REVIEWS THE SALARIES WITH THE BOARD CHAIR IN CHARGE OF THE FACULTY AND STAFF COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. HAVERFORD SCHOOL PARENTS' ASSOCIATION 450 LANCASTER AVENUE HAVERFORD PA 19041 236424688 FUNDRAISING PA 501(C)(3) LINE 11B, II N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0