2013-10-30T07:57:36-05:00 2013-06-30 232932984 PARENTEBEARD LLC 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990 2012-07-01 231352646 HAVERFORD SCHOOL HAVE 4844172722 450 LANCASTER AVENUE HAVERFORD PA 19041 DAVID S GOLD 4844172722 2013-10-29 1 JULIUS GREEN CPA P00350393 2159720701 2012 2016-02-25 16:41:14Z JOHN A NAGL 450 LANCASTER AVENUE HAVERFORD PA 19041 40867566 0 X WWW.HAVERFORD.ORG X 1916 PA A NON-SECTARIAN COLLEGE PREP SCHOOL JR K-12, EDUCATES QUALIFIED BOYS OF DIFFERING BACKGROUNDS. 31 30 324 40 216204 3965 4289351 3982727 29724681 31572949 1752275 2298682 992931 1384616 36759238 39238974 4313765 4708281 0 0 18429412 19179318 0 0 3209445 11314447 11909573 34057624 35797172 2701614 3441802 137139699 144070713 47146240 46080787 89993459 97989926 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 27323101 4708281 31572949 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 PROGRAM, AND OTHER EXTRA-CURRICULAR ACTIVITY EXPENSES FOR APPROXIMATELY 1,013 STUDENTS. 27323101 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 1 119 0 1 324 1 1 1 0 0 0 0 1 1 0 0 0 0 X 31 30 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 0.50 X 0 0 0 KENNETH L BRIER 1.50 X 0 0 0 ROBERT C CLOTHIER III ESQUIRE 1.50 X X 0 0 0 JOSEPH T COX 40.00 X X 480414 0 84567 JOHN A DEFLAMINIS 0.50 X 0 0 0 RANDALL T DRAIN JR 0.50 X 0 0 0 DAVID B FORD JR 1.50 X X 0 0 0 RICHARD W GRAHAM II 0.50 X X 0 0 0 RICHARD J GREEN 0.50 X 0 0 0 KIM KESZELI 0.50 2.00 X 0 0 0 MICHAEL S LEWIS 0.50 X 0 0 0 JOHN J LYNCH III 0.50 X 0 0 0 DAVID J MARTINELLI 0.50 X 0 0 0 GEORGE C MCFARLAND JR 0.50 X 0 0 0 RICHARD I MELVOIN 0.50 X 0 0 0 SHARON MERHIGE 0.50 X 0 0 0 LESLIE MUHLFELDER FREEMANN 0.50 X 0 0 0 ALBERT C OEHRLE 0.50 X 0 0 0 AMY PETERSEN 0.50 2.00 X 0 0 0 VINCENT A ROSSI 0.50 X 0 0 0 JOHN F STOVIAK 17.50 X X 0 0 0 CAROLINE ROGERS 0.50 X 0 0 0 PETER ROHR 0.50 X 0 0 0 MARK D TURNER 0.50 X 0 0 0 CARTER D WILLIAMS 0.50 X 0 0 0 THOMAS L WILLIAMS 0.50 X 0 0 0 JOHN C WILKINS JR 0.50 X 0 0 0 KENNETH W SCHWENKE 0.50 X 0 0 0 ROBERT T HASTINGS 0.50 X 0 0 0 JENNIFER N PECHET 0.50 X 0 0 0 WILLIAM C YOH 7.00 X X 0 0 0 DAVID S GOLD 40.00 X 189750 0 53775 JAMES M THORBURN 40.00 X 223800 0 26395 JOHN C NOSTRANT 40.00 X 164500 0 55276 RONALD F DUSKA 40.00 X 154800 0 14612 JAMES J GREYTOK JR 40.00 X 159250 0 52771 BRIAN MCBRIDE 40.00 X 162000 0 139543 CHARLES BROWN 40.00 X 183000 0 51029 MATTHEW GREEN 40.00 X 153000 0 53276 SAMUEL D CALDWELL 40.00 X 120311 0 17999 GEORGE C WOOD 40.00 X 114848 0 13361 2105673 0 562604 11 0 1 0 SODEXO OPERATIONS LLC PO BOX 360170 PITTSBURGH PA 15261 FOOD/FACILITIES MGT 2810174 ATLANTIC EQUIPMENT SPECIALISTS INC 3 ENTERPRISE ROAD DANVILLE PA 17821 RESTAURANT AND FOOD EQUIPMENT 197072 UNITED AMERICAN SECURITY INC 7610 FALLS OF NEUSE ROAD SUITE 290 RALEIGH NC 27615 SECURITY SERVICE 169309 TIMOTHY J STEEN 4 QUEEN LANE COATESVILLE PA 18904 CONTRACTING SVC. 166382 REALTY LANDSCAPING CORP 2585 SECOND STREET PIKE NEWTOWN PA 18904 LANDSCAPING SVC. 114038 5 19786 197600 3765341 514035 3982727 TUITION & FEES 611710 30965268 30965268 DAY CARE PROGRAM 611710 331003 331003 MUSIC LESSONS 611710 160681 160681 ENRICHMENT PROGRAM 611710 115997 115997 31572949 1844864 1844864 202512 170105 32407 32407 32407 1890058 1436240 453818 453818 453818 22505 19786 22247 258 258 CAFETERIA 611710 943384 943384 SUMMER DAY CAMP 611710 216204 216204 CAFE SALES 611710 95529 95529 96834 96834 1351951 39238974 31572949 216204 3467094 4708281 4708281 2830849 862653 1424124 544072 11992060 9710570 1162112 1119378 1076925 831019 157756 88150 2235894 1902055 230806 103033 1043590 1002738 16340 24512 42162 42162 59277 59277 135586 135586 1698543 1609815 83736 4992 239664 2165 237499 1615163 1363092 155656 96415 183639 183639 2189186 1228859 589130 371197 227058 151656 75402 98611 46694 34887 17030 3390187 2444181 580344 365662 120876 67824 32546 20506 INSTRUCTIONAL EXPENSES 864068 733853 130215 BOOKS, DUES & SUBSCRIPT 285710 208950 70678 6082 ATHLETIC DEPARTMENT 266461 266461 BOARD EXPENSES 256386 256386 236996 761 100720 135515 35797172 27323101 5264626 3209445 X 12950 12950 2588897 5422571 8921106 6698807 50229 20789 431031 837273 109179622 31705583 78772287 77474039 34460632 41946967 11206519 10970974 204996 176414 491052 509929 137139699 144070713 2439965 3253521 4771811 5203639 35655000 35010000 4279464 2613627 47146240 46080787 X 65060750 72943080 7795517 7072310 17137192 17974536 89993459 97989926 137139699 144070713 X 3441802 2940631 1614034 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 45547640 2198407 5056265 52802312 38620045 6641384 286211 45547640 31472044 3742976 3405025 38620045 23695095 4706031 3070918 31472044 43497483 857273 -8757931 1761940 10139790 23695095 0.61720 0.33080 0.05200 0 0 521496 521496 97731538 28590448 69141090 10648554 3115135 7533419 278034 278034 77474039 THE WEATHERLOW OFFSHORE FUND I LTD. 3387494 F SELECTINVEST ARV LTD. 186617 F AG DIVERSIFIED CREDIT STRATEGIES FUND LTD. 1907957 F AG CAPITAL RECOVERY VI HOLDINGS LP 577478 F TIGER ACCELERATOR PARTNERS LP 530265 F PERMIT CAPITAL MORTGAGE FUND, LP 793006 F BRANDYWINE INVESTMENT TRUST 1343645 F FORESTER DIVERSIFIED, LTD. 2244512 F 10970974 ACCRUED POSTRETIREMENT HEALTH COSTS 334016 INTEREST RATE SWAP AGREEMENTS 2279611 2613627 X 39142124 2940631 1614034 4554665 34587459 135586 4515929 4651515 39238974 31145657 192352 192352 30953305 135586 4708281 4843867 35797172 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT FUND SUPPORTS THE MISSION OF THE SCHOOL THROUGH SCHOLARSHIPS, PROGRAM SUPPORT, AND FACULTY SUPPORT. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE SCHOOL HAS EVALUATED ITS TAX POSITIONS AS OF JUNE 30, 2013. 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, 2013, 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 2012, 2011, 2010, AND 2009 REMAIN SUBJECT TO EXAMINATION BY THE IRS. PART XI, LINE 2D - OTHER ADJUSTMENTS: INTEREST RATE SWAP AGREEMENT 1,614,034. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -22,247. RENTAL EXPENSES -170,105. GRANTS TO INDIVIDUALS 4,708,281. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 22,247. RENTAL EXPENSES 170,105. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS TO INDIVIDUALS 4,708,281. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION 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. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE SCHOOL RECEIVES BOOKS FROM THE PENNSYLVANIA DEPARTMENT OF EDUCATION. GOLF OUTING 42291 19786 22505 16380 2330 3537 42291 19786 22505 16380 2330 3537 22247 258 1 SCHOLARSHIPS & FINANCIAL AID 286 4708281 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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 X 1 1 X X X X 1 1 0 0 0 0 0 1 0 JOSEPH T COX 389390 0 60000 0 31024 0 25500 0 59067 0 564981 0 0 0 DAVID S GOLD 189750 0 0 0 0 0 19450 0 34325 0 243525 0 0 0 JAMES M THORBURN 176300 0 0 0 47500 0 18060 0 8335 0 250195 0 0 0 JOHN C NOSTRANT 123500 0 0 0 41000 0 12600 0 42676 0 219776 0 0 0 RONALD F DUSKA 124800 0 0 0 30000 0 12600 0 2012 0 169412 0 0 0 JAMES J GREYTOK JR 129250 0 0 0 30000 0 13250 0 39521 0 212021 0 0 0 BRIAN MCBRIDE 162000 0 0 0 0 0 16600 0 122943 0 301543 0 0 0 CHARLES BROWN 183000 0 0 0 0 0 18750 0 32279 0 234029 0 0 0 MATTHEW GREEN 123000 0 0 0 30000 0 12600 0 40676 0 206276 0 0 0 PART I, LINE 1A THE SCHOOL REIMBURSED THE HEADMASTER'S SPOUSE FOR CLEANING SERVICES FOR THEIR SCHOOL-PROVIDED HOME. THE HOUSE IS USED FOR ENTERTAINING DEVELOPMENT PROSPECTS AND HOSTING SCHOOL FUNCTIONS. THE SCHOOL ALSO 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 CLEANING SERVICES WERE NOT INCLUDED IN THE HEADMASTER'S TAXABLE COMPENSATION, HOWEVER, THE REIMBURSEMENTS FOR SPOUSAL TRAVEL AND TAX GROSS-UP WERE. PART I, LINES 4A-B 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 WILL BE REFLECTED IN THE SUCCEEDING YEAR'S SCHEDULE J COMPENSATION. JOSEPH T. COX, THE HEADMSTER, PARTICIPATES IN A NONQUALIFIED 457F PLAN. $16,500 WAS CONTRIBUTED DURING THE FISCAL YEAR. 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 3491946 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 0 1 B 0 0 1 1 0 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 REBATE CALCULATION: 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 121044 PURCHASE PRICE X 15 392991 FMV-NYSE 0 0 0 1 THIRD PARTY USE: 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 SCHOOL 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: INTEREST RATE SWAP AGREEMENT 1,614,034. AUDIT OVERSIGHT: FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE METHODS WHICH THEY FOLLOW HAVE NOT CHANGED FROM THE PRIOR YEAR. HAVERFORD SCHOOL PARENTS' ASSOCIATION 450 LANCASTER AVENUE HAVERFORD PA 19041 236424688 SUPPORTING ORGANIZATION PA 501(C)(3) LINE 11B, II N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0