2012-03-01T06:39:55-06:00 2011-06-30 TAIT WELLER & BAKER LLP 1818 MARKET STREET SUITE 2400 PHILADELPHIA PA 19103 990 2010-07-01 231352677 SHIPLEY SCHOOL SHIP 6105254300 814 YARROW STREET BRYN MAWR PA 19010 ADAM WOJTELWICZ 6105254300 2012-03-01 1 STEVEN W HIPP CPA 2159798800 2012-03-01 2010 2016-02-24 21:20:13Z STEVEN S PILTCH 814 YARROW STREET BRYN MAWR PA 19010 44483038 0 X WWW.SHIPLEYSCHOOL.ORG X 1894 PA THE SHIPLEY SCHOOL, A PRE-KINDERGARTEN THROUGH 12 COEDUCATIONAL DAY SCHOOL, IS COMMITTED TO EDUCATIONAL EXCELLENCE AND DEDICATED TO DEVELOPING IN EACH STUDENT A LOVE OF LEARNING AND A COMPASSIONATE PARTICIPATION IN THE WORLD. 34 33 359 50 0 -2407 3280274 9059002 22380492 22946946 860286 763206 1329723 1217219 27850775 33986373 3842451 3894041 0 0 14631666 14591241 0 0 1281806 9668610 9446949 28142727 27932231 -291952 6054142 70235139 75736370 27316783 27702989 42918356 48033381 X THE SHIPLEY SCHOOL, A PRE-KINDERGARTEN THROUGH 12 COEDUCATIONAL DAY SCHOOL, IS COMMITTED TO EDUCATIONAL EXCELLENCE AND DEDICATED TO DEVELOPING IN EACH STUDENT A LOVE OF LEARNING AND A COMPASSIONATE PARTICIPATION IN THE WORLD. THROUGH A STRONG COLLEGE PREPARATORY CURRICULUM IN THE HUMANITIES AND SCIENCES, THE SCHOOL ENCOURAGES CURIOSITY, CREATIVITY, AND RESPECT FOR INTELLECTUAL EFFORT. SHIPLEY UPHOLDS AND PROMOTES MORAL INTEGRITY, A SENSE OF PERSONAL ACHIEVEMENT AND WORTH, AND CONCERN FOR OTHERS AT SCHOOL AND IN THE LARGER COMMUNITY. 0 0 18796405 3894041 22946946 THE SHIPLEY SCHOOL PROVIDED A PRIVATE SCHOOL EDUCATION TO STUDENTS RANGING FROM PRE-KINDERGARTEN TO GRADE 12. 833 STUDENTS WERE ENROLLED AT THE SCHOOL DURING THE 2010-2011 ACADEMIC YEAR. THE SCHOOL IS ACCREDITED BY THE PENNSYLVANIA ASSOCIATION OF INDEPENDENT SCHOOLS AND THE MIDDLE STATES ASSOCIATION OF COLLEGES AND SCHOOLS. THERE ARE APPROXIMATELY 118 FULL AND PART-TIME FACULTY MEMBERS AND MORE THAN HALF HAVE GRADUATE DEGREES. THE MAXIMUM CLASS SIZE IS 18 STUDENTS AND THE STUDENT/FACULTY RATIO IS ABOUT 7:1. IN THE PAST FIVE YEARS (CLASS OF 2006-2010), 24% OF SHIPLEY GRADUATES HAVE RECEIVED NATIONAL MERIT RECOGNITION. IN THE GRADUATING CLASS OF 2010, 4 STUDENTS WERE NAMED SCHOLARS, 5 WERE FINALISTS, AND 7 WERE COMMENDED, AND 2 WERE NATIONAL ACHIEVEMENT SCHOLARS.THE SHIPLEY EXPERIENCE EXTENDS BEYOND THE CLASSROOM AS SHIPLEY SPORTS TEAMS HAVE WON 34 LEAGUE CHAMPIONSHIPS IN THE LAST FIVE YEARS. IN ADDITION, SHIPLEY STUDENTS HAVE MADE AN IMPACT ON THE COMMUNITY AS ALL SHIPLEY STUDENTS PARTICIPATED IN SERVICE LEARNING PROJECTS THROUGHOUT THE ACADEMIC YEAR. 18796405 1 1 0 0 0 0 0 0 1 1 1 0 0 1 1 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 34 0 1 359 1 0 0 0 0 0 0 0 0 0 0 X 34 33 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X ADAM WOJTELWICZ 6105254300 814 YARROW STREET BRYN MAWR PA 190103598 STEVEN S PILTCH 45.00 X X 357871 0 270222 SUSANNA LACHS 2.00 X X 0 0 0 ADAM B SPECTOR 1.50 X X 0 0 0 KENNETH J HUFFMAN 0.80 X X 0 0 0 ELIZABETH JENKINS CULP 0.80 X 0 0 0 CYNTHIA A ARCHER 0.80 X 0 0 0 THOMAS M BALDERSTON 0.80 X 0 0 0 ERIC T BRADLOW 0.80 X 0 0 0 CURTIS R CONNER 0.80 X 0 0 0 MIMI KELLER DRAKE 0.80 X 0 0 0 CARMEL DELANEY 0.80 X 0 0 0 PENELOPE DYSON FOLEY 0.80 X 0 0 0 RICHARD IGOLDSTEIN 0.80 X 0 0 0 DR AUTUMN ATKINS GRAVES 0.80 X 0 0 0 SALLY HYMAN 0.80 X 0 0 0 DOUGLAS L JORDAN 0.80 X 0 0 0 MARJORIE G KATZ 0.80 X 0 0 0 STACEY SHREINER KLEY 0.80 X 0 0 0 DAVID M LAZARUS 0.80 X 0 0 0 LEO HELMERS 0.80 X 0 0 0 JAN R LINOWITZ 0.80 X 0 0 0 JOHN M MURABITO 0.80 X 0 0 0 CONNIE MCCANN 0.80 X 0 0 0 RENEE JOHNSON 0.80 X 0 0 0 WILLIAM SCHWARTZ 0.80 X 0 0 0 DONNA STERNBERG 0.80 X 0 0 0 ERIKA WHYTE 0.80 X 0 0 0 DERRIK RG MORRIS 0.80 X 0 0 0 TAD G SPERRY 0.80 X 0 0 0 ELLEN T CAPLAN 0.80 X 0 0 0 THOMAS W NAMMACK 0.80 X 0 0 0 JENNIFER NEFF 0.80 X 0 0 0 DAVID P SAMSON 0.80 X 0 0 0 BROOKSLEY WYLIE 0.80 X 0 0 0 ADAM WOJTELWICZ 45.00 X 144697 0 31958 USHA BALAMORE 45.00 X 106053 0 11257 CHRIS FARR 45.00 X 100436 0 10948 MARK SCHOEFFEL 45.00 X 108267 0 16707 NOOHA AHMED LEE 45.00 X 120891 0 17401 JOHN ZELEK 45.00 X 99618 0 16231 938215 0 358493 6 0 1 0 SAGE DINING SERVICES INC 222 BOSLEY AVENUE SUITE B7 TOWSON MD 21204 STUDENT DINING SERVICES 756320 AMERICAN SERVICES CORP THE ASC BUILDING 2241 PROVIDENCE A CHESTER PA 19013 JANITORIAL SERVICES 472289 COMDATA 312 N MAIN ST PRINCETON NJ 08540 FINANCIAL TRANSACTION PROCESSING 437109 PECO ENERGY 2301 MARKET STREET PO BOX 8699 PHILADELPHIA PA 19101 UTILITIES 426125 AMR CONSTRUCTION INC TA RUFO CONTRACT 441 E HECTOR ST STE 300 CONSHOHOCKEN PA 19428 CONSTRUCTION SERVICES 397643 5 9059002 9059002 TUITION & FEES 611710 22188027 22188027 CAFETERIA SALES/ LUNCH 611710 578191 578191 BOOKSTORE SALES 611710 161507 161507 BOOKFAIR 611710 19221 19221 22946946 705878 705878 524732 524732 524732 524732 10390285 10332957 57328 57328 57328 440396 163708 276688 276688 OTHER 900099 263809 263809 CREW FEES 611710 81935 81935 YEARBOOK SALES 611710 45951 45951 24104 24104 415799 33986373 22946946 0 1980425 3894041 3894041 845854 845854 10948495 7899540 2349902 699053 451900 411414 4079 36407 1521182 1152713 266462 102007 823810 566283 207415 50112 25765 25765 195909 195909 69469 69469 334053 334053 560339 560339 1471104 1471104 935591 935591 1346075 1346075 245693 245693 AUXILIARY ACTIVITIES 1134641 1134641 INSTRUCTIONAL EXPENSE 850154 850154 FACILITIES OPERATION AL 732575 590025 142550 BAD DEBTS 495837 495837 MISCELLANEOUS 473446 297631 175815 576298 70440 429996 75862 27932231 18796405 7854020 1281806 349920 3199292 10124247 8661964 3884327 8741607 57194 156310 126604 121135 45494586 18112912 30064294 27381674 18475137 20268866 6024043 6717572 1129373 487950 70235139 75736370 1881171 2229957 1488477 1721914 20800000 21124278 3147135 2626840 27316783 27702989 X 29786913 32612446 2682801 4904883 10448642 10516052 42918356 48033381 70235139 75736370 X 6054142 -939117 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14019849 3139072 2766398 738134 19187185 12723686 642764 1413108 759709 14019849 16057663 727904 -4061881 12723686 0.25760 0.54810 0.19430 0 0 2693073 2693073 35098450 14194261 20904189 4057026 3918651 138375 3646037 3646037 27381674 ALTERNATIVE INVESTMENTS 6717572 F 6717572 AGENCY FUNDS 216660 INTEREST RATE SWAP 2410180 2626840 33986373 27932231 6054142 3371502 -4310619 -939117 5115025 33431633 3371502 163708 3535210 29896423 195909 3894041 4089950 33986373 24005989 163708 163708 23842281 195909 3894041 4089950 27932231 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT DRAW IS USED TO OFFSET OPERATING COSTS. THESE COSTS ARE PRIMARILY FINANCIAL AID, SCHOLARSHIPS, PROGRAM COSTS AND FACULTY SALARIES. THE SCHOOL SUBSIDIZES AN AMOUNT WELL BEYOND THE DRAW IN EACH OF THESE AREAS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SCHOOL HAS REVIEWED THEIR TAX POSITIONS AND HAS CONCLUDED THAT NO LIABILITY FOR UNRECOGNIZED TAX BENEFITS SHOULD BE RECORDED RELATED TO UNCERTAIN TAX POSITIONS TAKEN ON FEDERAL AND STATE TAX RETURNS FOR THE OPEN TAX YEARS (2008-2010) OR EXPECTED TO BE TAKEN IN THE CURRENT YEAR. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUE OF INTEREST RATE SWAP 492,461. IMPAIRMENT LOSS ON BUILDING -3,946,251. LOSS ON REFINANCING OF DEBT -856,829. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS 163,708. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 3,894,041. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS 163,708. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 3,894,041. 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 SCHOOL'S NONDISCRIMINATORY POLICY WAS PUBLISHED IN LOCAL NEWSPAPER. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE SCHOOL RECEIVES EDUCATIONAL IMPROVEMENT TAX CREDIT (EITC) FUNDS FROM THE COMMONWEALTH OF PENNSYLVANIA. SPRING FUNDRAISER 225377 225377 67453 SHIPLEY SHOPS 176340 176340 79208 1 38679 38679 17047 440396 440396 163708 163708 276688 PA 0 CHARITABLE ORGANIZATIONS IN PENNSYLVANIA THAT OPERATE SMALL GAMES OF CHANCE ARE REQUIRED TO BE LICENSED. ACCORDING TO THE PENNSYLVANIA LOCAL OPTION SMALL GAMES OF CHANCE ACT, A LICENSED ELIGIBLE ORGANIZATION MAY CONDUCT THE FOLLOWING FIVE TYPES OF GAMES OF CHANCE: (1) PUNCHBOARDS; (2) PULL-TABS; (3) RAFFLES (INCLUDES LOTTERIES); (4) DAILY DRAWINGS; (5) WEEKLY DRAWINGS.THE SPRING FUNDRAISER THAT IS CONDUCTED BY THE SCHOOL DOES NOT FALL INTO ANY OF THESE FIVE CATEGORIES OF GAMES. THE PENNSYLVANIA STATE STATUTES DO NOT ADRESS LICENSING OF CASINO NIGHT FUNDRAISERS. 0 0 0 1.00000 0 0 0 FINANCIAL AID 224 3894041 X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 STEVEN S PILTCH 292500 0 0 0 65371 0 138475 0 131747 0 628093 0 0 0 ADAM WOJTELWICZ 144697 0 0 0 0 0 7958 0 24000 0 176655 0 0 0 PART I, LINE 1A THE HEADMASTER OF THE SCHOOL IS PROVIDED WITH HOUSING ADJACENT TO THE SCHOOL. THE HOUSING IS A CONDITION OF HIS EMPLOYMENT AND NO PART OF IT IS TAXABLE INCOME. MONTGOMERY COUNTY IND DEV AUTHORITY 232245125 2010-12-30 20800000 TO REFINANCE 2008 REVENUE BONDS AND TO REPAY CONSTRUCTION LINE OF CREDIT 0 0 0 MONTGOMERY COUNTY IND DEV AUTHORITY 232245125 2010-12-30 324278 TO SUPPORT CAPITAL CONSTRUCTION PROJECTS AT THE SCHOOL 0 0 0 20800000 20800000 1 0 0 0 324278 274278 50000 2012 0 0 0 0 0 0 0 0 0 0 1 1 WELLS FARGO BANK NA 26.000000000000 0 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE, FINANCE COMMITTEE AND THE BOARD OF TRUSTEES BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL TRUSTEES MUST SIGN A CONFLICT OF INTEREST STATEMENT EACH YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES DETERMINES THE COMPENSATION OF THE CEO. THE BOARD UTILIZES AN INDEPENDENT CONSULTANT TO BENCHMARK THE COMPENSATION PACKAGE AS PART OF A "SAFE HARBORS" PROCESS. FOR ALL TOP MANAGEMENT EMPLOYEES, BENCHMARKING THROUGH NAIS IS USED TO DETERMINE AN APPROPRIATE SALARY RANGE UPON HIRE. FORM 990, PART VI, SECTION C, LINE 19 ALL REQUESTS FOR THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS NEED TO BE MADE IN WRITING TO THE CFO. THE MATERIALS ARE FURNISHED UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 3,371,502. CHANGE IN VALUE OF INTEREST RATE SWAP 492,461. IMPAIRMENT LOSS ON BUILDING -3,946,251. LOSS ON REFINANCING OF DEBT -856,829. TOTAL TO FORM 990, PART XI, LINE 5: -939,117. FORM 990, PART XI, LINE 2C THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEDPENDENT ACCOUNTANT. THERE HAS BEEN NO CHANGE FROM THE PRIOR YEAR. THORNBROOK MANOR LLC 814 YARROW STREET BRYN MAWR PA 19010 205784933 PROPERTY MANAGEMENT PA 267271 0