2012-05-10T12:36:48-05:00 2011-06-30 SCHNEIDER DOWNS & CO INC 1133 PENN AVENUE PITTSBURGH PA 15222 990 2010-07-01 250965561 SHADY SIDE ACADEMY SHAD 4129683137 423 FOX CHAPEL ROAD PITTSBURGH PA 152382296 THOMAS ARNOLD 4129683137 2012-04-26 1 SUSAN M KIRSCH 4122613644 2010 2016-02-24 21:20:13Z THOMAS M CANGIANO 423 FOX CHAPEL ROAD PITTSBURGH PA 152382296 42416497 0 X WWW.SHADYSIDEACADEMY.ORG X 1883 PA PROVIDES EDUCATION TO STUDENTS IN PRE-KINDERGARTEN THROUGH TWELFTH GRADE. 36 34 438 0 0 0 2133099 2114372 23125719 23299561 1249330 1508991 5311 -18300 26513459 26904624 2358931 2538576 0 0 16641622 16659998 20410 0 974684 8885230 10318296 27906193 29516870 -1392734 -2612246 76667403 84531537 4570991 7598495 72096412 76933042 SHADY SIDE ACADEMY OFFERS AN EXCEPTIONAL PRE-K THROUGH TWELFTH GRADE ACADEMIC AND BALANCED EDUCATIONAL EXPERIENCE BY CHALLENGING EACH STUDENT TO REALIZE HIS OR HER POTENTIAL IN A STIMULATING AND NURTURING ENVIRONMENT. 0 0 20371565 2358576 20610837 INSTRUCTIONAL: -THE ACADEMY ENROLLS APPROXIMATELY 928 STUDENTS (PRE K - 12). THE ACADEMY IS COLLEGE PREPARATORY WITH MOST SENIORS CONTINUING ONTO HIGHER EDUCATION. THE ACADEMY OPERATES THREE SEPARATE CAMPUSES FOR JUNIOR, MIDDLE AND SENIOR SCHOOLS.-ATHLETICS: ALL SHADY SIDE ACADEMY STUDENTS ARE OFFERED A WIDE RANGE OF PHYSICAL ACTIVITIES THROUGHOUT THE SCHOOL YEAR TO ENCOURAGE HEALTHY CHOICES, DEVELOP SKILLS AND LEARN THE IMPORTANCE OF SPORTSMANSHIP. 1744047 1662824 AUXILIARY SERVICES: -RESIDENTIAL LIFE PROGRAM: THE ACADEMY OPERATES A FIVE DAY BOARDING PROGRAM FOR APPROXIMATELY 48 STUDENT BOARDERS. THE STUDENTS ARE HOUSED IN ACADEMY DORMITORIES (MONDAY THROUGH FRIDAY) WITH TEACHERS WHO OVERSEE AND OPERATE THE RESIDENTIAL LIFE PROGRAM.-FOOD SERVICE: SERVES DAY STUDENTS LUNCH AND SERVES THOSE INVOLVED IN RESIDENTIAL LIFE PROGRAM BREAKFAST, LUNCH AND DINNER.-BOOK AND ATHLETIC STORES: THE STORES OFFER INDIVIDUALS THE OPPORTUNITY TO PURCHASE EDUCATIONAL TEXTBOOKS AND SUPPLIES AND ATHLETIC EQUIPMENT AND CLOTHING. THE ACADEMY REQUIRES ATHLETIC AND HEALTH CREDITS FOR GRADUATION. 758425 1025900 SUMMER PROGRAMS:-SHADY SIDE ACADEMY'S SUMMER PROGRAMS PROVIDE AN ENDLESS ARRAY OF POSSIBILITIES FOR ALL KIDS. 22874037 1 1 0 0 0 0 1 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 1 0 0 0 1 1 0 0 0 0 1 0 0 0 0 1 50 0 1 438 1 0 0 0 0 0 1 1 0 0 0 0 X 36 34 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 0 1 1 0 PA X X THOMAS P ARNOLD 4129683137 423 FOX CHAPEL ROAD PITTSBURGH PA 15238 X EBEN H ADAMS 3.50 X 0 0 0 FREDERICK B BROAD 3.50 X 0 0 0 ELIZABETH CONCORDIA 3.50 X 0 0 0 KARA S CONOMIKES 3.50 X 0 0 0 MARY JO H DIVELY 3.50 X 0 0 0 J KEEFE ELLIS 3.50 X 0 0 0 ROBERT D FERGUSON 3.50 X 0 0 0 DIANE M FISHER 3.50 X 0 0 0 BRYAN P GENTILE 3.50 X 0 0 0 JUDITH GRANATO 3.50 X 0 0 0 STEPHEN F HALPERN 3.50 X 0 0 0 MICHAEL J HANNON 3.50 X 0 0 0 RANA HUSAINI 3.50 X 0 0 0 JONATHAN M KAMIN 3.50 X 0 0 0 TRACY PRIZANT LEVY MD 3.50 X 0 0 0 JAY R MANGOLD 3.50 X 0 0 0 J BRENDAN MCLAUGHLIN 3.50 X 0 0 0 FRANCES O'CONNOR 3.50 X 0 0 0 LOUIS B PLUNG 3.50 X 0 0 0 PAUL M POHL 3.50 X 0 0 0 GRETA K ROONEY 3.50 X 0 0 0 ANTHONY J ROSS 3.50 X 0 0 0 OZZY SAMAD 3.50 X 0 0 0 SANDRA C SAUEREISEN MD 3.50 X 0 0 0 SARA SCAIFE 3.50 X 0 0 0 CHARLES A SCALES JR 3.50 X 0 0 0 JAMES D SCALO 3.50 X 0 0 0 LAURIE S SINGER 3.50 X 0 0 0 BARBARA PIPPIN THAI 3.50 X 0 0 0 JAMES H WOLF 3.50 X 0 0 0 J STEPHEN LEE 3.50 X X 0 0 0 DIVYA ANNAMRAJU 3.50 X X 0 0 0 MARY ELLEN COSTA 3.50 X X 0 0 0 JEFFREY B TODD 3.50 X X 0 0 0 THOMAS M CANGIANO ENT 7110 40.00 X X 121203 0 71757 THOMAS ARNOLD 40.00 X 121041 0 37060 RONALD CARTER 40.00 X 91155 0 12433 JEFFREY DAY 61311 START 40.00 X 0 0 0 DAVID JEREMY LACASSE 40.00 X 99161 0 66925 CHERYL LITTLE 40.00 X 106350 0 10329 RICHARD MUNROE 40.00 X 86804 0 68046 AMY NIXON 40.00 X 96829 0 22702 EUGENE DEAL 40.00 X 85084 0 20089 RICHARD GABLE 40.00 X 87362 0 13087 THOMAS N SOUTHARD 40.00 X 140554 0 73073 863097 0 362325 4 1 1 0 METZ CULINARY MANAGEMENT TWO WOODLAND DRIVE DALLAS PA 18612 FOOD SERVICE 1276125 QUALITY MECHANICAL SERVICES INC 1300 HULTON ROAD VERONA PA 15147 BOILER REPAIRS/ ICE RINK CHILLER REPAIRS 487424 MCPC INC PO BOX 643283 PITTSBURGH PA 152643283 COMPUTER NETWORK EQUIPMENT 379679 3 21115 2093257 220547 2114372 TUITION AND FEES 900099 20610837 20610837 AUXILIARY SERVICES 900099 1662824 1662824 SUMMER PROGRAMS 900099 1025900 1025900 23299561 989354 989354 15986213 15466576 519637 519637 519637 26997 21115 45297 -18300 -18300 26904624 23299561 0 1490691 2538576 2538576 1196459 591215 403861 201383 42258 42258 11088796 8602108 2180737 305951 588413 474778 101197 12438 2826939 2377654 407083 42202 917133 690915 189202 37016 54296 54296 377473 377473 327551 169817 56605 101129 1500743 870683 473787 156273 733590 550193 183397 1074005 772037 301968 311137 278777 16237 16123 15513 15513 29970 29970 2526488 2021190 505298 223916 223916 BUILDINGS AND GROUNDS 2046482 1637185 409297 SUMMER PROGRAMS 758420 758420 ENTERTAINMENT 168806 57689 16801 94316 EXECUTIVE SEARCH EXP. 106033 9895 96138 PROFESSIONAL DEVELOPMEN 37883 35094 2789 25990 18080 57 7853 29516870 22874037 5668149 974684 34426 736959 528168 186981 451474 483685 7070 4141 228376 176685 307217 338078 56226104 26651551 30821949 29574553 36773285 44523716 7515438 8506739 76667403 84531537 1031430 1128053 1543227 1710703 1996334 4759739 4570991 7598495 X 29954949 28921006 430583 354539 41710880 47657497 72096412 76933042 76667403 84531537 X -2612246 7448876 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 45127887 151072 8921959 2538576 1874811 49787531 41256428 331513 5593332 554414 1498972 45127887 55092503 439371 -10874666 918210 2482570 41256428 0.04280 0.95720 0.00000 0 0 266813 266813 43439136 15983283 27455853 8814484 8814484 0 3705671 1853784 1851887 29574553 OTHER 481439 F LIMITED PARTNERSHIP 8025300 F 8506739 26904624 29516870 -2612246 7448876 7448876 4836630 34318797 7448876 45297 7494173 26824624 80000 80000 26904624 29482167 45297 45297 29436870 80000 80000 29516870 PART III, LINE 4: SHADY SIDE ACADEMY IS A NON-PROFIT EDUCATIONAL INSTITUTION AND THE PURPOSE OF THE COLLECTIONS IS TO DOCUMENT AND ENHANCE THE ACADEMY'S HERITAGE AND HISTORY IN ORDER TO PROVIDE AN EDUCATIONAL TIMELINE FOR CURRENT AND FUTURE ACADEMY STUDENTS, FAMILIES, AND FACULTY. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ACADEMY'S ENDOWMENT CONSISTS OF VARIOUS INVESTMENT FUNDS ESTABLISHED PRIMARILY FOR SUPPORT OF THE ORGANIZATION'S MISSION. ITS ENDOWMENT INCLUDES DONOR-RESTRICTED ENDOWMENT FUNDS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE ACADEMY TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE FUNDS ARE USED FOR FINANCIAL AID, FACULTY COMPENSATION, AND BUILDING/GROUND MAINTENANCE. INTERPRETATION OF RELEVANT LAW - THE TRUSTEES OF THE ACADEMY HAVE ELECTED TO BE GOVERNED BY THE COMMONWEALTH OF PENNSYLVANIA'S ACT 141 (ACT 141). ACT 141 IS A TOTAL RETURN POLICY THAT ALLOWS A NONPROFIT TO CHOOSE TO TREAT A PERCENTAGE OF THE AVERAGE MARKET VALUE OF THE ENDOWMENT'S PERMANENTLY RESTRICTED INVESTMENTS AS INCOME EACH YEAR. HOWEVER, THE LONG-TERM PRESERVATION OF THE REAL VALUE OF THE ASSETS MUST BE TAKEN INTO CONSIDERATION WHEN THE BOARD ELECTS THE AMOUNT. ON AN ANNUAL BASIS, THE EXECUTIVE COMMITTEE OF THE BOARD, IN WRITING, MUST ELECT A SPENDING RATE OF BETWEEN 2% AND 7%. IN ACCORDANCE WITH ACT 141, THE ACADEMY ANNUALLY TRANSFERS BETWEEN 5% AND 5.5% OF THE PREVIOUS YEARS' MARKET VALUE AVERAGE OF THE ENDOWMENT FUND. THIS PERCENTAGE IS APPLIED TO A 12-QUARTER AVERAGE MARKET VALUE OF THE INVESTMENTS AT JUNE 30 OF THE PREVIOUS YEAR. THE ACADEMY CLASSIFIES AS PERMANENTLY RESTRICTED NET ASSETS THE ORIGINAL AND SUBSEQUENT VALUE OF THE GIFTS DONATED TO THE PERMANENT ENDOWMENT. IN ACCORDANCE WITH ACT 141, THE ACADEMY HAS ADOPTED A WRITTEN INVESTMENT POLICY, OF WHICH A SECTION SPECIFICALLY RELATES TO THE ENDOWMENT FUND. THE ACADEMY CONSIDERS THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO SET A SPENDING RATE: 1. PROTECTING THE CORPUS OF THE ENDOWMENT FUND. 2. PRESERVING THE SPENDING POWER OF THE ASSETS. 3. OBTAINING MAXIMUM INVESTMENT RETURN WITH REASONABLE RISK AND OPERATIONAL CONSIDERATION. 4. COMPLYING WITH APPLICABLE LAWS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: INCOME TAXES ARE NOT PROVIDED, AS THE ACADEMY IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE STATUES. AS A RESULT, NO PROVISION FOR TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. EFFECTIVE FOR THE YEAR ENDED JUNE 30, 2011, THE ACADEMY IMPLEMENTED THE INCOME TAXES TOPIC OF THE ASC, CLARIFYING THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. THIS TOPIC PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLES FOR FINANCIAL STATEMENTS DISCLOSURE OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN. THE ACADEMY HAS ASSESSED THE TAX POSITIONS IT HAS TAKEN OR EXPECTS TO TAKE IN ITS TAX RETURNS. THE IMPLEMENTATION HAD NO IMPACT ON THE FINANCIAL STATEMENTS, AND NO LIABILITY HAS BEEN RECORDED FOR UNCERTAIN TAX POSITIONS. THE ACADEMY IS NO LONGER SUBJECT TO EXAMINATION OF ITS TAX RETURNS FOR YEARS BEFORE 2007. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES: $45,297 PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES: $45,297 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 EMPLOYMENT AND STUDENT HANDBOOKS, WEBSITE AND EMPLOYMENT ADS EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE ACADEMY RECEIVES DIRECT FUNDING FOR TEXTBOOKS, INSTRUCTIONAL MATERIALS AND EQUIPMENT THROUGH PENNSYLVANIA ACTS 195/90/35. THE ACADEMY RECEIVES GIFT FUNDING THAT IS MADE POSSIBLE THROUGH PARTICIPATION IN THE EITC PROGRAMS WHICH PROVIDES A TAX CREDIT TO THE BUSINESSES WHO PARTICIPATE IN THIS PROGRAM. CENTRAL AMERICA AND THE CARIBBEAN 0 0 FOREIGN INVESTMENTS 7085525 0 0 0 0 0 0 7085525 0 7085525 1 0 1 0 0 0 X X X X X X 1 PA UNTUCKED 48112 21115 26997 11945 1652 16685 15015 48112 21115 26997 11945 1652 16685 15015 45297 -18300 1 FINANCIAL AID 163 2538576 N/A N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE ACADEMY AWARDS FINANCIAL AID TO QUALIFYING INDIVIDUALS TO OFFSET THE COST OF TUITION. THE PROCESS IS MANAGED BY THE ACADEMY'S BUSINESS OFFICE AND USES AN OUTSIDE PARTY TO ASSIST IN COLLECTING FINANCIAL INFORMATION FROM PARENTS. MOST FUNDING IS AWARDED BASED ON DEMONSTRATED ECONOMIC NEED AND FUNDING AVAILABLE. A VERY LIMITED NUMBER OF AWARDS ARE BASED ON OTHER MERIT CRITERIA. X X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 THOMAS M CANGIANO ENT 7110 121203 0 0 0 0 0 5880 0 65877 0 192960 0 0 0 THOMAS ARNOLD 121041 0 0 0 0 0 8042 0 29018 0 158101 0 0 0 DAVID JEREMY LACASSE 99161 0 0 0 0 0 6608 0 60317 0 166086 0 0 0 RICHARD MUNROE 86804 0 0 0 0 0 6371 0 61675 0 154850 0 0 0 THOMAS N SOUTHARD 140554 0 0 0 0 0 53486 0 19587 0 213627 0 0 0 PART I, LINE 1A THE PRESIDENT DOES HAVE DISCRETIONARY SPENDING ACCOUNTS BUT THEY ARE FOR SPECIFIC PURPOSES RELATED TO OPERATIONS, PROGRAMMING AND/OR PROFESSIONAL DEVELOPMENT. AMY NIXON X 1000 1000 0 0 0 1000 PNC BANK SEE BELOW 103668 SEE BELOW 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: MIKE HANNON IS AN OFFICER OF PNC BANK WITH WHOM SHADY SIDE ACADEMY DOES BUSINESS. SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: DESCRIPTION OF TRANSACTION: LOAN INTEREST AND FEES X 6 220547 FAIR MARKET VALUE 0 0 1 1 THIRD PARTY USE: PART I, LINE 32B: SHADY SIDE ACADEMY USES AN OUTSIDE BROKER TO SELL SECURITIES RECEIVED AS CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 6 THE BUSINESS AND AFFAIRS OF THE CORPORATION ARE MANAGED BY A BOARD OF TRUSTEES, WHO ALSO CONSTITUTE THE MEMBERS OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A TWO TRUSTEES ARE ELECTED OR APPOINTED EACH YEAR BY THE SHADY SIDE ACADEMY ALUMNI ASSOCIATION. IN THE EVENT THAT THE ALUMNI ASSOCIATION FIALS TO SELECT TWO TRUSTEES IN ANY YEAR, THE BOARD FILLS ANY RESULTING VACANCY BY ELECTING AN ALUMNUS OF THE ACADEMY. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY MANAGEMENT AND BY THE AUDIT COMMITTEE. A COPY OF FORM 990 IS DISTRIBUTED TO BOARD MEMBERS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C AN EXPLANATION OF THE CONFLICT OF INTEREST POLICY IS PRESENTED TO ALL BOARD OF TRUSTEE MEMBERS AT THE START OF EACH SCHOOL YEAR. DATA COLLECTION FORMS ARE DISTRIBUTED AND INFORMATION IS THEN SENT TO THE BUSINESS OFFICE WHERE IT IS REVIEWED AND MAINTAINED ON FILE THROUGHOUT THE YEAR. CONFLICTS OF INTEREST DISCLOSURE FORMS ARE FORWARDED TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 THE ACADEMY'S CHAIRMAN OF THE BOARD SELECTS CERTAIN BOARD MEMBERS TO COMPRISE A COMPENSATION COMMITTEE. THIS GROUP ANALYZES DATA FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS AND OTHER LOCAL SURVEYS TO DETERMINE APPROPRIATE SALARY RANGES. FOR TOP MANAGEMENT, THE ACADEMY ENGAGES THE SERVICES OF LOCAL LEGAL COUNSEL TO ASSIST IN THE REVIEW AND PREPARATION OF EMPLOYMENT CONTRACTS AND/OR AGREEMENTS. FORM 990, PART VI, SECTION C, LINE 19 SHADY SIDE ACADEMY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY STATEMENT AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST THROUGH THE ACADEMY'S BUSINESS OFFICE. ACADEMY TRUSTEES EMERITI WITH NO VOTING RIGHTS: FORM 990, PART VII, THE FOLLOWING HAVE BEEN IDENTIFIED AS SHADY SIDE G. NICHOLAS BECKWITH, III, PAUL G. BENEDUM, JR., JOHN E. BROWNELL, JR., FLOYD A. CEPHAS, SR., JOHN P. DAVIS, JR., JOHN H. DEMMLER, WILLIAM P. GETTY, LAWRENCE N. GUMBERG, PAUL R. JENKINS, KARL F. KRIEGER, ANNE V. LEWIS, W. THOMAS MCGOUGH, JR., HENRY POSNER, JR., EDWIN F. SCHEETZ, JR., SUSANNE C. WEAN. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 7,448,876. FORM 990, PART XI, FINANCIAL STATEMENTS AND REPORTING: THE AUDIT COMMITTEE, A SUB-COMMITTEE OF THE ACADEMY'S FINANCE COMMITTEE OF THE BOARD OF TRUSTEES, MEETS THREE TIMES PER YEAR WITH KEY MEMBERS OF MANAGEMENT AND MEMBERS OF THE INDEPENDENT AUDIT FIRM TO REVIEW AND DISCUSS PERTINENT MATERIAL. THIS COMMITTEE THEN REPORTS TO THE FULL BOARD. FORM 990, PART VI, QUESTION 14, SECTION B, POLICIES: SHADY SIDE ACADEMY IS IN PROCESS OF ADOPTING A DOCUMENT RETENTION AND DESTRUCTION POLICY. SHADY SIDE ACADEMY FOUNDATION 423 FOX CHAPEL ROAD PITTSBURGH PA 15238 251754941 EXTENSION OF SHADY SIDE ACADEMY EDUCATIONAL MISSION - FUNDRAISING PA 501(C)(3) 509(A)(3) TYPE I SHADY SIDE ACADEMY 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0