2014-05-08T07:29:24-05:00 2013-06-30 581729751 Metcalf Davis CPAs 3340 Peachtree Road NE Suite 2600 Atlanta GA 303261089 990 2012-07-01 580706812 Pace Academy Inc PACE 4042621345 966 West Paces Ferry Road NW Atlanta GA 303272648 Frederick G Assaf 4042621345 2014-05-07 1 Arthur H Metcalf II P00279386 4042641700 2014-05-06 2012 2015-11-30 17:44:51Z Frederick G Assaf 966 West Paces Ferry Road NW Atlanta GA 303272648 50276049 0 X www.paceacademy.org X 1958 GA Pace Academy is a PF-12 college preparatory independent school in Atlanta, Georgia. 23 23 397 550 36576 35576 15385244 12222862 23712117 25430484 4183314 1637408 -6244 152733 43274431 39443487 1165513 1241414 0 0 15313732 16431432 0 0 913260 8766965 9510188 25246210 27183034 18028221 12260453 133502634 144411223 42070714 40173263 91431920 104237960 X Our mission is to create prepared, confident citizens of the world who honor the values and legacy of Pace Academy. 0 0 18990750 1241414 23497094 Instruction- Pace Academy was established in 1958 as an independent college preparatory coeducational day school. For the 2012-2013 school year Pace had an enrollment of 1,080 students in pre-first through twelfth grades. The student teacher ratio was 9:1 with a class size on average of 15 students. Pace is recognized as a "Leading Edge School" by the National Association of Independent Schools. The faculty average years of experience is 16, with an average of nine years at Pace Academy. Eighty percent of Upper School faculty holds graduate degrees, while 16 percent hold doctorates. One hundred percent of seniors are enrolled in at least one advanced placement course, and the average SAT score of Pace students is 1300+. The class of 2013 totaled 99 students who are attending 51 different colleges and universities in the United States and Europe. 1048099 1176679 Summer Programs and Global Education - Pace Summer Programs offers multiple academic, sports and other specialty camps to Pace students and the Pace extended community. Summer Programs offers activities for all ages including Pace Camp, leadership camp, basketball and football camp, drivers education, cooking camp, art camp, chess camp, robotics camp and others. During 2012, approximately 1,000 students participated in Summer Programs, the largest of which, Pace Camp, had approximately 600 participants. Additionally, holiday camp occurs every year during the winter break and specialty programs are offered during the year including tutoring and chess.In 2012-2013 the Pace Adventures and Global Education program went on 20 trips to countries throught the world, including the US, Europe, South America and the Middle East. The Global Education program was founded in 2009 to help accomplish Pace's mission to create prepared, confident citizens of the world. 2561641 756711 Student Activities - The Pace athletics program consistently produces championship teams and athletes, and 85 percent of Middle and Upper School students play on at least one team. Pace holds more than 54 state championships, and graduates go on to play at the college and professional level. The Pace main campus and two satellite complexes include a state-of-the-art gymnasium, natatorium, indoor walking track, gymnastic and wrestling facility, basesball and softball fields, tennis courts, wellness center, athletic practice fields, multi-purpose fields for football, soccer and lacrosse, and a field house. Over 30 years the Pace debate program has grown into a nationally recognized program with a long-standing history of excellence, and students that advance to the national debate tournaments each year. During 2012, Pace participated in the Tournament of Champions at the University of Kentucky. The Pace arts program offers a unique variety of performing and visual arts for students to particiapte in, and boasts a world class Fine Arts Center. Upper School students are required to complete service learning. During 2012, 9,000 hours of service were performed by Pace students last year. In 2012-2013 the Pace Adventures and Global Education program went on 20 trips to countries throught the world, including the US, Europe, South America and the Middle East. The Global Education program was founded in 2009 to help accomplish Pace's mission to create prepared, confident citizens of the world. 22600490 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 1 95 0 1 397 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 GA X Jean W Held 4042621345 966 West Paces Ferry Road Atlanta GA 30327 Timothy J Walsh 5.00 X 0 0 0 Laurie Ann Goldman 1.00 X 0 0 0 William G Thurman 1.00 X 0 0 0 Sybil C Hadley 3.00 X 0 0 0 James W Howard Jr 1.00 X 0 0 0 Alexander J Johnson 1.00 X 0 0 0 William M Lellyett 1.00 X 0 0 0 John S Inman 1.00 X 0 0 0 Jeff Seabright 1.00 X 0 0 0 Robert Sheft 1.00 X 0 0 0 Bonnie P Harris 1.00 X 0 0 0 Elizabeth Correll Richards 1.00 X 0 0 0 William D Smith Jr 1.00 X 0 0 0 Sally L Williamson 1.00 X 0 0 0 Thomas A Bethel 1.00 X 0 0 0 Randall E Quintrell 1.00 X 0 0 0 Jeffrey S Sloan 1.00 X 0 0 0 Dr Charles L Brown III 1.00 X 0 0 0 Gregory C Kelly 1.00 X 0 0 0 Mark E Luetters 1.00 X 0 0 0 Daron G Pair 1.00 X 0 0 0 Rebecca S Shepherd 1.00 X 0 0 0 Elizabeth A Price 1.00 X 0 0 0 Frederick G Assaf 40.00 X 521149 0 129298 Jean Held 40.00 X 138333 0 17464 Matthew Wawro 40.00 X 161698 0 18172 Kristin Palmerton 40.00 X 126106 0 44289 Anna Valerius 40.00 X 123128 0 17007 1070414 0 226230 12 0 1 0 New South Construction Company Inc PO Box 77616 Atlanta GA 30357 Construction contractor 1696350 Sage Dining Services Inc 1402 York Road Suite 100 Lutherville MD 21093 Food service 894980 Collins Cooper Carusi Architects Inc 3391 Peachtree Rd NW Suite 400 Atlanta GA 30326 Architectual services 472291 Mobile Modular Management Corp PO Box 45043 San Francisco CA 94145 Modular construction 277977 WR Cleaning Services Inc 1405 Flattail Run Lawrenceville GA 30043 Janitorial 233234 6 69323 175000 11978539 992873 12222862 Tuition and fees 611710 23497094 23497094 Summer Program 611710 1176679 1176679 Parent organization 611710 509569 509569 Other 611710 247142 247142 25430484 1209719 1815 1207904 30740 36244 10000 1483 20740 34761 55501 34761 20740 11096552 10373276 295587 723276 -295587 427689 427689 44095 69323 39928 4167 4167 205353 112288 93065 93065 39443487 25430484 36576 1753565 1241414 1241414 1346623 276802 678295 391526 11991815 10668710 1136488 186617 719976 658169 60078 1729 1474562 1098277 342056 34229 898456 755264 110244 32948 48961 48961 38500 38500 73668 73668 52672 31444 21228 333136 68391 210466 54279 1750611 1545283 187864 17464 279877 240585 30766 8526 183492 178991 4282 219 98472 78917 17620 1935 361172 335664 24266 1242 1948375 1810761 130911 6703 147519 13915 133604 Student Activities 1446185 1419184 27001 0 Transition and Capital 1124710 991323 133387 Dining 722081 706893 11391 3797 Library, textbooks, and 344223 344223 0 0 556534 167724 371379 17431 27183034 22600490 3669284 913260 16470347 20931461 7072339 8818114 13202849 15751890 4080596 3957139 85248 36681 1251748 1299422 73074531 20650911 51110080 52423620 10597432 16159759 29108814 24554545 523181 478592 133502634 144411223 2339324 2910498 14339860 14931468 23400000 22100000 50000 50000 1941530 181297 42070714 40173263 X 70486038 75838097 16503501 23944115 4442381 4455748 91431920 104237960 133502634 144411223 X 12260453 335349 210238 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 55275811 9478000 2183138 2321248 73668 64542033 45349816 10589712 286935 823652 127000 55275811 41234145 1055189 3459720 266302 132936 45349816 38323036 1636939 3606270 2332100 41234145 42558262 4366611 -6042232 2559605 38323036 0.55900 0.06900 0.37200 0 0 8585038 8585038 51520603 16067686 35452917 5850662 1824641 4026021 3504253 2660945 843308 3613975 97639 3516336 52423620 Alternative investments 4877603 F Fixed income funds 19676942 F 24554545 Agency accounts 181297 181297 X 37712981 335349 210238 545587 37167394 73668 2202425 2276093 39443487 24906941 163699 163699 24743242 73668 2366124 2439792 27183034 Description of Intended Use of Endowment Funds: Part V, Line 4: Endowment funds are held for the purpose of meeting the requirements of donors in either temporarily or permanently restricted net assets. Board designated quasi-endowment funds are held to meet the long-term needs of the School. Description of Uncertain Tax Positions Under FIN 48: Part X, Line 2: Pace follows the guidance related to accounting for uncertainties in income taxes, which prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken. Management does not believe Pace has any significant tax uncertainties that were affected by this change and accordingly no adjustment was made as a result of this implementation. Pace's tax returns are subject to review and examination by federal and state authorities. Tax returns for the fiscal years ended June 30, 2009-2012 are open to examination by federal and state authorities, and in certain circumstances the statute of limitations may remain open indefinitely. Part XI, Line 2d - Other Adjustments: Interest rate swap 210,238. Part XI, Line 4b - Other Adjustments: Financial aid deducted from revenues on financial statements 1,241,414. Campus store cost of sales -112,288. Fund raising direct expenses -39,928. Transition and capital campaign costs 1,124,710. Rental expenses -11,483. Part XII, Line 2d - Other Adjustments: Campus store cost of sales 112,288. Fund raising direct expenses 39,928. Rental expenses 11,483. Part XII, Line 4b - Other Adjustments: Financial aid deducted from revenues on financial statements 1,241,414. Transition and fund raising costs 1,124,710. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Explanation of Nondiscriminatory Policy Publication Schedule E, Part I, Line 3 Student applications and Student Handbook as well as employee communications contain information related to the School's nondiscriminatory policies. In addition, the policy is on the School's website and published in the local newspaper. Europe (Including Iceland & Greenland) 0 0 Program services Study abroad 146598 North America 0 0 Program services Study abroad 45838 East Asia and the Pacific 0 0 Program services Study abroad 361 Russia & the Newly Independent States 0 0 Program services Study abroad 40473 South Asia 0 0 Program services Study abroad 150 South America 0 0 Program services Study abroad 58907 Middle East and North Africa 0 0 Program services Study abroad 17127 0 0 0 0 0 0 309454 0 309454 0 0 0 0 0 0 Method Used to Acccount for Expenditures: Schedule F, Part I, Line 3: Actual costs of providing travel and related costs. X X X X X 0 Booster Bash 81163 48113 33050 1109 159 11867 675 18010 Pace Race 30755 19960 10795 3498 525 480 2970 111918 68073 43845 4607 159 12392 1155 20980 39293 4552 1 Need based financial assistance aid to students as a reduction in tuition. 114 1241414 Amount of reduction in tuition amount. The non-cash financial aid is a reduction in tuition costs to the student determined on a need basis. X X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 Frederick G Assaf 521149 0 0 0 0 0 28240 0 101058 0 650447 0 0 0 Jean Held 138333 0 0 0 0 0 11097 0 6367 0 155797 0 0 0 Matthew Wawro 161698 0 0 0 0 0 10891 0 7281 0 179870 0 0 0 Kristin Palmerton 126106 0 0 0 0 0 8003 0 36286 0 170395 0 0 0 Part I, Line 1a Part I, line 1a, Tax indemnification and gross-up payments. The Head of School has income reported to him for the amount of tuition remission he receives along with the corresponding amount of related income tax. Part I, line 1a, Personal services. Cleaning services are provided for the Head of School's residence. Part I, line 1a. Housing. As a condition of employment and for the conveniences of the School, the Head of School is required to reside in campus housing. Based on the facts and circumstances of the requirments of his respective role and responsibilities, it is the opinion of the School that the housing costs is non-taxable to the Head of School. Section 119 of the Internal Revenue Code is reviewed annually to determine the applicability and compliance with this section. Part I, Line 3 The Compensation Committee (Board Chair, Board Vice-Chair, and Finance Committee Chairman) reviews salaries from other peer independent schools, reports from the National Association of Independent Schools, and other sources in developing compensation for the Head of School. Substantiation is contemporaneous and given by the Board Chair to the Human Resources Director to keep on file. Part I, Line 4b Head of School participates in a Section 457(b) plan. A Development Authority of Fulton County 581506878 359900UQ8 2008-04-01 27000000 Construction of campus and other related facilities. 0 1 0 A 4900000 27000000 387060 26648660 2008 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 Nancy Quintrell Spouse of Trustee Randy Quintrell 64423 Trustee's spouse is a faculty member in the Middle School. 0 X 56 992873 Avg high/low 0 1 0 Third Party Use: Part I, Line 32b: The School has gift acceptance and disposition policies in place that were implemented in May 2004. It includes a Committee charged with complying with the applicable laws and regulations. Acceptance authority for publicly traded securities, quid pro quo contributions, mutual fund shares, closely held securities, tangible personal property, real estate, and life insurance policies are specifically identified for special rules. Non Reporting of Revenue: Part I, Line 33: Immaterial and minor amounts of gifts or services or small items are not given any value for recognizing revenues. Form 990, Part VI, Section B, line 11 The Audit Commitee of the Board of Trustees reviews the Form 990 as a committee. Once it is approved, a full and complete Government copy is furnished to all Board of Trustee members for their review and approval prior to filing with the Internal Revenue Service. How documents are made available to the public. 990, Part VI, Governance, Management, Disclosure, Section C, Number 19 Governing documents can be accessed through the website for the Secretary of State of Georgia and are readily available. The School's conflict of interest policy and latest audited financial statements are available upon request during business hours from the Business Office with appropriate consideration for time to accumulate to meet such requests. Form 990, Part VI, Section B, line 12c The Board of Trustees requires that all members complete an annual statement regarding any conflict of interest as defined within the policy statement for conflict of interest. This pledge is to uphaold a duty of confidentiality and avoidance of any confict of interest. Form 990, Part VI, Section B, line 15 The Board of Trustees has a Compensation Committee that determines executive compensation. The Competition Committee reviews the salary information from other schools based on NAIS, JRPO and other surveys and benchmarks when considering the salaries of the Headmaster (CEO) and the CFO. The Board has final approval for all recommendations of the Compensation Committee. The Board Chair provides contemporaneous documentation to the HR Director which is kept on file. The Headmaster and HR Director review similar information when determining salaries for other key employees. Form 990, Part VI, Section C, line 18 The Form 990 is available for public inspection during business hours of the School. In addition, the form may be available on the website Guidestar.com. Form 990, Part VI, Section C, line 19 The information is availbale upon request and made available to the interested parties during business hours of the School during those days that the School is open to students. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 9: Interest rate swap 210,238. No change in audit function. Form 990, Part XI, Line 2(c) The School has not changed its policy or procedure related to the audit function. Knights Riverview LLC 966 West Paces Ferry Rd Atlanta GA 30327 The primary activity is to assist in carrying out the same as the School. GA Pace Academy Inc Pace Academy Parents' Club Inc 966 West Paces Ferry Road Atlanta GA 30327 582074448 Raising money to donate to Pace Academy, Inc. GA 501 (c)(3) Line 9 N/A 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 Pace Academy Parents' Club Inc C 175000 Sch B contribution Knights Riverview LLC K 2400 Lease