2013-05-09T16:11:54-05:00 2012-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2011-07-01 221607926 RUTGERS PREPARATORY SCHOOL % H STEWART WHELLER III RUTG 7325455600 1345 EASTON AVENUE SOMERSET NJ 088731499 ALAN WINK 7325455600 2013-05-06 true KPMG LLP 2127589700 2011 2016-02-25 16:41:14Z STEVEN A LOY 1345 EASTON AVENUE SOMERSET NJ 088731499 22183338 false X www.rutgersprep.org X 1766 NJ PRE-KINDERGARTEN THROUGH TWELFTH GRADE CO-EDUCATIONAL INDEPENDENT DAY SCHOOL 24 24 335 2 0 0 1160064 826751 17762782 19285492 278627 269341 602407 847309 19803880 21228893 2425058 2784374 0 0 12138617 12556289 0 0 765517 3870817 4841170 18434492 20181833 1369388 1047060 43303738 46275276 9841501 11960501 33462237 34314775 X RUTGERS PREPARATORY SCHOOL, FOUNDED IN 1766, IS A PRE-KINDERGARTEN THROUGH TWELFTH GRADE CO-EDUCATIONAL INDEPENDENT DAY SCHOOL. FOR MORE INFORMATION, SEE SCHEDULE O. false false 14018879 2784374 17174074 EDUCATION AND INSTRUCTION FOR APPROXIMATELY 691 STUDENTS IN GRADES PRE-KINDERGARTEN THROUGH GRADE 12 SERVING SOMERSET COUNTY AND ADJACENT COMMUNITIES. 1021339 0 1034050 STUDENT SERVICES - ACTIVITIES (INCLUDING ATHLETICS, STUDENT PUBLICATIONS, DRAMA, CLUBS ETC.) 1681720 0 1790426 AUXILIARY ENTERPRISES (INCLUDING BOOK STORE, CAFETERIA, INTERNATIONAL PROGRAM,TRANSPORTATION, SUMMER CAMPS, AFTER SCHOOL PROGRAMS, GRADUATION) 16721938 true true false false false false false false true true false false true true true true false true false false false false false true false false false true true true false false false false false true false false true false true false false false false false false false false false true 17 0 true 335 true false false false false false false false false false false X 24 24 false false true false false false false true true false false true true true true true false true false false X H STEWART WHELLER III 7325455600 1345 EASTON AVENUE SOMERSET NJ 088731499 BRUCE WILLIAMS 3.0 X X 0 0 0 JOSEPH DANILE 1.0 X 0 0 0 JOSEPH MANTELL 1.0 X X 0 0 0 ALAN WINK 2.0 X X 0 0 0 EDWARD THORNTON 1.0 X X 0 0 0 TARA AUCIELLO 1.0 X 0 0 0 NAN M BLECKER 1.0 X 0 0 0 SCOTT BOWEN 1.0 X 0 0 0 MARKUS CHRISTEN 1.0 X 0 0 0 ANDREA CUNNELL 1.0 X 0 0 0 MARY ANN DE SANTIS 1.0 X 0 0 0 LORNA COLE DURISH 1.0 X 0 0 0 MARY TODD GANZENMULLER 1.0 X 0 0 0 ANDREW K GOLDEN 1.0 X 0 0 0 AYANNA HILL-GILL 1.0 X 0 0 0 JONATHAN D KAUFELT 1.0 X 0 0 0 PETER LAMPEN 1.0 X 0 0 0 PAUL LEATH 1.0 X 0 0 0 THOMAS POWERS 1.0 X 0 0 0 ERNEST RENDA 1.0 X 0 0 0 NANCY STEVENSON 1.0 X 0 0 0 CAROLYN SULLIVAN 1.0 X 0 0 0 MARK A BEAN 1.0 X 0 0 0 MARK DIGIOVANNI 1.0 X 0 0 0 LORETTA SHAW-LORELLO 1.0 X 0 0 0 STEVEN A LOY 50.0 X 390823 0 58206 H STEWART WHELLER III 50.0 X 166348 0 33933 CAROLE GLANTZOW-ZBORAY 50.0 X 159022 0 29279 JAMES ACKERMAN 40.0 X 140259 0 32133 STEPHEN LEWANDOWSKI 50.0 X 152647 0 15349 STEPHEN DUFFY 50.0 X 110569 0 13708 JOHN MILLER 50.0 X 106888 0 22136 1226556 0 204744 9 false true false EPIC MANAGEMENT INC 136 ELEVENTH STREET PISCATAWAY NJ 08854 CONSTRUCTION 4157891 SAGE DINING SERVICES INC 1402 YORK ROAD SUITE 100 LUTHERVILLE MD 21093 FOOD SERVICE 365285 GEORGE DAPPER INC 1020 GREEN STREET ISELIN NJ 08830 BUS SERVICE 290179 3 826751 92956 826751 STUDENT TUITION 900099 18860593 18860593 APPLICATION FEES 900099 24750 24750 STUDENT TRANSPORTATION 611710 246745 246745 AFTER SCHOOL PROGRAMS 611710 153404 153404 19285492 190471 190471 0 0 81541 7125 74416 74416 74416 854682 775812 78870 78870 78870 21734 11848 9886 9886 0 239057 159660 79397 79397 INTERNATIONAL HOUSING 900099 240000 240000 SUMMER CAMPS 900099 156652 156652 SENIOR FEES 900099 54780 54780 232178 182229 49949 683610 21228893 19998550 0 403592 0 2784374 2784374 0 0 632275 44956 407491 179828 43786 43786 9771087 8311145 1140624 319318 529480 427605 77573 24302 826442 670794 116390 39258 753219 606884 123133 23202 0 21600 21600 76000 76000 0 0 0 0 63204 63204 112433 73082 16865 22486 160727 160727 0 324708 308293 13132 3283 37068 14113 22955 0 46868 46868 189511 189511 0 1117132 1061276 44685 11171 123294 23429 99865 DINING SERVICE 604610 604610 ATHLETIC & STUDENT ACTIVITIES 376858 376858 AUXILIARY SERVICES 374861 374861 INTERNATIONAL PROGRAM 325033 266904 58129 887263 535486 232063 119714 20181833 16721938 2694378 765517 5926482 7405092 8422353 9318395 813987 503061 118509 35141 185000 185000 0 0 0 0 212155 195399 206883 227030 31962703 11977131 14817975 19985572 6770045 6057786 0 0 0 0 0 0 5830349 2362800 43303738 46275276 1947535 2070791 0 0 4088580 3883600 3628384 5810743 0 0 0 0 0 0 0 0 177002 195367 9841501 11960501 X 29526791 30812357 2131273 1672099 1804173 1830319 33462237 34314775 43303738 46275276 X 1047060 -194522 X false true true X false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7649623 49248 55231 29632 7724470 6349672 110266 1314818 125133 7649623 5622240 78510 648922 0 6349672 6735653 42681 -1145724 10370 5622240 0.66255 0.23306 0.10439 false false 351179 351179 20338546 8035220 12303326 4063924 2462842 1601082 7209054 1479069 5729985 19985572 CONSTRUCTION IN PROGRESS 2079333 OTHER RECEIVABLES 283467 2362800 0 AMOUNTS HELD FOR OTHERS 110140 ASSET RETIREMENT OBLIGATION 85227 195367 21228893 20181833 1047060 -194522 -194522 852538 18428630 -194522 -2784374 -2978896 21407526 -178633 -178633 21228893 17576092 178633 178633 17397459 2784374 2784374 20181833 FORM 990, SCHEDULE D, PART V, LINE 4 THE INTENDED USE OF ENDOWMENT FUNDS ENDOWMENT FUNDS HAVE BEEN ESTABLISHED BY THE SCHOOL FOR SCHOLARSHIPS, FACULTY DEVELOPMENT AND GENERAL PURPOSES. FORM 990, SCHEDULE D, PART X INCOME TAXES THE SCHOOL IS AN ORGANIZATION DESCRIBED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE CODE. THERE ARE CERTAIN TRANSACTIONS THAT COULD BE DEEMED UNRELATED BUSINESS INCOME AND COULD RESULT IN A TAX LIABILITY. MANAGEMENT REVIEWS TRANSACTIONS TO ESTIMATE POTENTIAL TAX LIABILITIES USING A THRESHOLD OF MORE LIKELY THAN NOT. IT IS MANAGEMENT'S ESTIMATION THAT THERE ARE NO MATERIAL TAX LIABILITIES THAT NEED TO BE RECORDED. FORM 990, SCHEDULE D, PART XII RECONCILIATION OF REVENUE LINE 2D FINANCIAL AID ($2,784,374) LINE 4B COST OF GOODS SOLD ($159,660) SPECIAL EVENT DIRECT EXPENSES ($ 11,848) RENTAL EXPENSES ($ 7,125) ------------- ($178,633) FORM 990, SCHEDULE D, PART XIII RECONCILIATION OF EXPENSES LINE 2D COST OF GOODS SOLD $159,660 SPECIAL EVENT DIRECT EXPENSE $ 11,848 RENTAL EXPENSES $ 7,125 ------------ $178,633 LINE 4B FINANCIAL AID $2,784,374 true true true true true true true false false false false false false false false true false true RACIALLY NONDISCRIMINATORY FORM 990, SCHEDULE E, LINE 3 A STATEMENT AS TO SUCH POSITION IS INCLUDED IN ADVERTISEMENTS AND ON THE ORGANIZATION'S WEBSITE. FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENTAL AGENCY FORM 990, SCHEDULE E, LINE 6A NO CHILD LEFT BEHIND, STATE OF NEW JERSEY - TEXTBOOKS AND NURSING. FASHION SHOW 21734 21734 9660 2188 0 21734 21734 9660 2188 11848 9886 true STUDENT FINANCIAL AID & SCHOLARSHIPS 198 2784374 FORM 990, SCHEDULE I, PART I, LINE 2 RUTGERS PREPARATORY SCHOOL OFFERS FINANCIAL AID TO QUALIFIED STUDENTS BASED ON THE DEMONSTRATED FINANCIAL NEED OF THE FAMILY AND THE AVAILABILITY OF FINANCIAL AID FUNDS. THESE FUNDS ARE NEED-BASED FINANCIAL AID. RUTGERS PREPARATORY SCHOOL IS A MEMBER OF THE SCHOOL AND STUDENTS SERVICE FOR FINANCIAL AID (SSS), WHICH ASSISTS INDEPENDENT SCHOOLS IN DETERMINING FINANCIAL NEED. ALL APPLICATIONS FOR AID ARE MADE THROUGH THE ADMISSION OFFICE AND THE LIST OF FAMILIES WHO RECEIVE AID IS KEPT CONFIDENTIAL. FINANCIAL AID GRANTS ARE APPLIED AS A REDUCTION TO THE FAMILY'S TUITION. X X true true X X X X false false false false false false false false false STEVEN A LOY 293492 0 40000 0 57331 0 35679 0 22790 0 449292 0 0 0 H STEWART WHELLER III 145331 0 15000 0 6017 0 17923 0 16273 0 200544 0 0 0 CAROLE GLANTZOW-ZBORAY 154446 0 0 0 4576 0 13269 0 16273 0 188564 0 0 0 JAMES ACKERMAN 133286 0 0 0 6973 0 16123 0 16273 0 172655 0 0 0 STEPHEN LEWANDOWSKI 144507 0 0 0 8140 0 15349 0 263 0 168259 0 0 0 FORM 990, SCHEDULE J, PART I, LINE 1A HOUSING AND OTHER ALLOWANCES AND TRAVEL FOR COMPANIONS HOUSING AND OTHER TAXABLE ALLOWANCES DESCRIPTION: THE ALLOWANCES FOR THE FOLLOWING EMPLOYEES ARE TAXABLE AND REFLECTED AS PART OF TAXABLE INCOME AND INCLUDED AS TAXABLE INCOME ON THEIR FORM W-2, BOX 1 AND 5. STEVEN LOY'S CONTRACT INCLUDES A HOUSING AND RELATED EXPENSES ALLOWANCE OF $35,400 FOR MORTGAGE PAYMENTS, REAL ESTATE TAXES, INSURANCE, MAINTENANCE AND UTILITIES; AN AUTOMOBILE ALLOWANCE OF $5,800 FOR FUEL AND MAINTENANCE; AND THE TAXABLE LEASE VALUE OF A VEHICLE PROVIDED BY THE SCHOOL $5,736. THE TAXABLE VALUE OF VEHICLE PROVIDED BY THE SCHOOL TO STEPHEN LEWANDOWSKI IS $1,866. TRAVEL FOR COMPANIONS: THE HEADMASTER AND HIS SPOUSE SERVE AS AMBASSADORS FOR THE SCHOOL AND FULFILL A KEY ADMINISTRATIVE ROLE IN FUNDRAISING, MARKETING, AND RECRUITMENT OF FACULTY AND STUDENTS. THE HEADMASTER'S SPOUSE ALSO SERVES IN THE ROLE OF ATHLETIC COACH AND INSTRUCTOR. TRAVEL RELATED ONLY TO THE RESPONSIBILITIES OF THESE FUNCTIONS IS REIMBURSED IN ACCORDANCE WITH THE SCHOOL'S PROCUREMENT GUIDELINES AND IS NOT REPORTED AS TAXABLE COMPENSATION TO THE HEADMASTER. TRAVEL OUTSIDE OF THIS FUNCTION IS NOT REIMBURSED. New Jersey Economic Development Authority 222045817 2010-12-20 6000000 Construction of new building false false false 88553 0 6000000 0 79380 0 83174 0 0 5736742 0 100704 2011 false false false true false false false false 0 true false true false 0 false 0 false false STEVEN A LOY HOUSE & HOUSE IMPROV X 160000 160000 false true true STEVEN A LOY HOME IMPROVEMENTS X 25000 25000 false true true 185000 PHILOMENA C LOY FAMILY - S.A. LOY 43560 COMP & BENEFITS false X 17 92956 FMV false true false FORM 990, SCHEDULE M, PART I, COLUMN (B) NUMBER OF CONTRIBUTORS THE NUMBER IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. THE ORGANIZATION RECEIVED 17 STOCK CONTRIBUTIONS FROM 12 CONTRIBUTORS. FORM 990, PART III, LINE 1 ORGANIZATION'S MISSION RUTGERS PREPARATORY SCHOOL, FOUNDED IN 1766, IS A PRE-KINDERGARTEN THROUGH TWELFTH GRADE CO-EDUCATIONAL INDEPENDENT DAY SCHOOL. THE SCHOOL ENVIRONMENT IS ENRICHED BY STUDENTS WHO COME FROM A VARIETY OF GEOGRAPHIC, ECONOMIC AND ETHNIC BACKGROUNDS. OUR MOTTO "SEVERA RES EST VERUM GAUDIUM" (HARD WORK IS TRUE JOY) EXPRESSES OUR DESIRE THAT STUDENTS WILL DEVELOP A POSITIVE ATTITUDE TOWARD LEARNING AND THAT THEY WILL BE REWARDED WITH A STRONG SENSE OF ACHIEVEMENT. THE SCHOOL VALUES INTELLECTUAL CURIOSITY AND PERSONAL INTEGRITY, SEEKING TO STIMULATE THEIR DEVELOPMENT AT EVERY LEVEL. WE EMPHASIZE A STRONG ACADEMIC PROGRAM, CREATIVE PROBLEM SOLVING, COOPERATION AND GROUP INTERACTION, APPRECIATION OF CULTURE AND BEAUTY, AND HEALTHY EMOTIONAL AND PHYSICAL GROWTH. WE BELIEVE THAT OUR STUDENTS GROW AND LEARN BEST IN AN ENVIRONMENT OF TRUST, COOPERATION AND OPEN COMMUNICATION. THE EDUCATIONAL EXPERIENCE OF EACH INDIVIDUAL STUDENT IS MOST SUCCESSFUL WHEN STUDENTS, PARENTS, FACULTY AND ADMINISTRATION TOGETHER SUPPORT THE SCHOOL'S AIMS AND VALUES. OUR TEACHERS ARE ENTHUSIASTIC ABOUT THEIR TEACHING, WELL PREPARED IN THEIR SUBJECT MATTER, AND CONCERNED FOR THEIR STUDENTS' WELFARE. THIS ATMOSPHERE ENCOURAGES STUDENTS TO TAKE THE RISKS NECESSARY FOR LEARNING THE SCHOOL OFFERS EACH STUDENT AN INTEGRATED PROGRAM OF STUDIES, EXTRA-CURRICULAR ACTIVITIES, ATHLETICS, AND COMMUNITY SERVICE. AS A RESULT OUR STUDENTS DEVELOP INDIVIDUAL TALENTS, ACTIVELY PARTICIPATE IN THE SCHOOL COMMUNITY AND LOOK FORWARD TO SUCCESS IN COLLEGE. THEY BUILD A FOUNDATION FOR UNDERSTANDING THE SOCIAL, ENVIRONMENTAL, AND CULTURAL INTRICACIES OF THEIR WORLD. ULTIMATELY, STUDENTS LEARN TO ACCEPT CHALLENGES AND RESPONSIBLY SET AND ACHIEVE GOALS FOR THEMSELVES. FORM 990, PART VI, LINE 4 SIGNIFICANT CHANGE IN ORGANIZATION GOVERNING DOCUMENT IN JUNE 2012, THE ORGANIZATION'S BYLAWS WERE AMENDED TO CHANGE THE COMPOSITION OF THE BOARD OF TRUSTEES. THE BOARD SHALL NOW INCLUDE TWO (2) CURRENT PARENTS. FORM 990, PART VI, LINE 11 REVIEW OF FORM 990 THE FORM 990 IS PREPARED BY CFO WITH INPUT FROM THE HEADMASTER AND OTHER SCHOOL ADMINISTRATORS WITH ASSISTANCE FROM THE SCHOOL'S TAX ACCOUNTANTS. THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES. THE FINAL COPY OF THE FORM 990 IS PROVIDED TO EACH OF THE BOARD MEMBERS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, LINE 12C CONFLICT OF INTEREST POLICY A CONFLICT OF INTEREST STATEMENT IS SENT TO EACH BOARD OF TRUSTEE MEMBER AND EACH ADMINISTRATOR EVERY SEPTEMBER FOR SIGNATURE. THE SIGNED CONFLICT OF INTEREST STATEMENTS ARE RETURNED TO THE ASSISTANT TO THE HEADMASTER. THE STATEMENTS ARE REVIEWED FOR ANY REPORTED POTENTIAL CONFLICTS. ANY POTENTIAL CONFLICTS ARE REPORTED TO THE PRESIDENT OF THE BOARD AND/OR HEADMASTER. IF NECESSARY, THE COMMITTEE ON TRUSTEESHIP AND/OR THE BOARD OF TRUSTEES WOULD PROVIDE GUIDANCE AND TAKE SUCH ACTION AS IT DEEMS APPROPRIATE UNDER THE CIRCUMSTANCES. FORM 990, PART VI, LINE 15 COMPENSATION PART VI, LINE 15A: A THREE-MEMBER COMPENSATION COMMITTEE CONSISTING OF INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES OVERSEES THE ENGAGEMENT OF THE HEADMASTER/CEO. IT ALSO REVIEWS ANNUAL PERFORMANCE. IN 2009, THIS COMMITTEE NEGOTIATED A LONG-TERM EMPLOYMENT CONTRACT WHICH RUNS THROUGH JUNE 30, 2017 WITH THE HEADMASTER. IN THE COURSE OF COMMITTEE AND BOARD DELIBERATIONS, THE SCHOOL LOOKED AT MARKET COMPARABLES AND OTHER OUTSIDE INFORMATION. THE COMPENSATION COMMITTEE MET BY TELEPHONE, EMAIL, ETC. ON FREQUENT OCCASIONS DURING THE DELIBERATION PERIOD AND IT RETAINED CONTEMPORANEOUS RECORDS. THE SCHOOL ALSO UTILIZED OUTSIDE LEGAL COUNSEL TO FORMALIZE AND FINALIZE THE AGREEMENT. THE CONTRACT WAS APPROVED BY THE BOARD OF TRUSTEES. PART VI, LINE 15B: THE CEO FIXES THE COMPENSATION OF THE CFO IN ACCORDANCE WITH REGULAR AND CONTINUING COMPENSATION PRACTICES FOR ALL SCHOOL EMPLOYEES. FORM 990, PART VI, LINE 19 DISCLOSURE RUTGERS PREPARATORY SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 5 OTHER CHANGES IN NET ASSETS NET UNREALIZED LOSS ON INVESTMENT - ($194,522)