2012-12-14T15:12:23-06:00 2012-06-30 GRANT THORNTON LLP 2001 MARKET STREET SUITE 3100 PHILADELPHIA PA 19103 990 2011-07-01 231370498 Church Farm School % NEIL FANELLI JR CHUR 6103637500 1001 E Lincoln Highway EXTON PA 19341 NEIL FANELLI JR 2012-12-04 true Frank Giardini 2155614200 2012-12-04 2011 2016-02-24 21:20:13Z Edmund K Sherrill II 1001 E LINCOLN HIGHWAY EXTON PA 19341 34583764 false X WWW.GOCFS.NET X 1918 PA THE CHURCH FARM SCHOOL PREPARES A DIVERSE GROUP OF BOYS WITH ACADEMIC ABILITY AND GOOD CHARACTER TO LEAD PRODUCTIVE AND FULFILING LIVES BY MAKING A COLLEGE PREPARATORY EDUCATION FINANCIALLY ACCESSIBLE. 17 17 122 -3798 -3798 1706837 657832 1318954 1420970 7561443 6326371 223490 246730 10810724 8651903 0 0 0 0 5969001 5173604 0 0 410402 4103175 4123228 10072176 9296832 738548 -644929 150392525 141985786 5422222 9463019 144970303 132522767 X The Church Farm School prepares a diverse group of boys with academic ability and good character to lead productive and fulfilling lives by making a college preparatory education financially accessible. false false 7147309 1420970 PROVISION OF A RESIDENTIAL COLLEGE PREPARATORY ENVIRONMENT FOR BOYS IN GRADES 7 THROUGH 12 FROM FINANCIALLY DESERVING FAMILIES. THE SCHOOL PROVIDES HOUSING, SOME TRANSPORTATION, EDUCATION, SOCIAL ACTIVITIES, SUPPORT SERVICES AND A WORK PROGRAM FOR APPROXIMATELY 200 BOYS ON A 150 ACRE CAMPUS. 7147309 true true false false false false false false false true true true false true true true true false true false false false false false true false false false false true false false false false false false false false false false false false false false false false false false true 23 0 true 122 true false false false false false false false false false false X 17 17 true false false false false false false true true false false true true true true true true true false false PA X NEIL FANELLI JR 6103637500 1001 E LINCOLN HIGHWAY EXTON PA 19341 MARK T CARROLL 3.0 X X 0 0 RICHARD H GHERST II 3.0 X X 0 0 STEPHEN A LONEY 3.0 X X 0 0 SAMUEL H BALLAM III 1.0 X 0 0 REV CHARLES BENNISON JR 1.0 X 0 0 MATTHEW BURNS 1.0 X 0 0 GREGORY COLEMAN 1.0 X 0 0 SAMUEL CUPP JR 1.0 X 0 0 STEPHEN DARBY 1.0 X 0 0 KERMET S ECK 1.0 X 0 0 SALLY N GRAHAM 1.0 X 0 0 CANNIE C SHAFER 1.0 X 0 0 WALTER K SMITH 1.0 X 0 0 NORMAN STRATE 1.0 X 0 0 JAMES TATE 1.0 X 0 0 JACQUES VAUCLAIN 1.0 X 0 0 STACEY SHREINER KLEY 1.0 X 0 0 0 JOHN PICKERING 1.0 X 0 0 REV EDMUND K SHERRILL II 50.0 X 165000 109336 NEIL J FANELLI JR 50.0 X 147199 28588 CHRISTIAN B BRONK 50.0 X 109937 20330 WILLIAM W WENTZEL X 110236 30518 532372 0 188772 4 true true false Sodexo Inc and Affiliates PO BOX 360170 PITTSBURGH PA 15251 food & janitor svcs 962521 1 657832 6409 657832 TUITION AND FEES 900099 1420970 1420970 1420970 3033787 -3798 3037585 0 0 196587 196587 196587 196587 29193053 25900469 3292584 3292584 3292584 81535 31392 50143 50143 0 0 0 8651903 1420970 -3798 6576899 0 0 0 0 221164 221164 0 3560926 2584108 725180 251638 370319 286179 56290 27850 728189 514702 163397 50090 293006 203229 69999 19778 0 46944 46944 68440 4107 64333 0 0 0 1115145 1040845 74300 127885 89328 38557 97245 40556 45428 11261 220275 128035 92240 0 745200 713335 31865 64805 45706 14288 4811 0 26935 14303 12449 183 2838 2838 0 914624 867978 46646 154910 132225 18689 3996 CAMPUS MAINTENANCE 162626 154750 7876 STUDENT ACTIVITIES 83753 83753 INSTRUCTIONAL 75363 75363 ATHLETIC 79946 79946 136294 88861 45195 2238 9296832 7147309 1739121 410402 0 0 3203715 3081160 66542 36606 139295 107717 0 0 0 0 0 0 0 0 91126 95196 31666804 18949796 13273461 12717008 114721030 109071850 14904000 9251731 0 0 0 0 3993356 7624518 150392525 141985786 867689 689972 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4554533 8773047 5422222 9463019 X 115104920 103814309 1249865 1224338 28615518 27484120 144970303 132522767 150392525 141985786 X -644929 -11802607 X false true true X false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 129625030 1001484 -5989317 6313616 118323581 108565725 27992666 6933361 129625030 101188179 61912 15406555 8090921 108565725 131522208 2000 -21995679 8340350 101188179 0.82070 0.17930 true false 447134 447134 25985413 14850681 11134732 781214 437398 343816 4453043 3661717 791326 12717008 COMMON TRUST FUND 9251731 F 9251731 INVESTMENT INCOME RECEIVABLE 295371 BEQUEST RECEIVABLE 424889 BENEFICIAL INTERESTS IN TRUSTS 6904258 7624518 0 DEPOSITS & MISCELLANEOUS 570102 PENSION PROJECTED BENEFIT OBLI 8202945 8773047 8651903 9296832 -644929 -7168022 -4634585 -11802607 -12447536 1515273 -7168022 31392 -7136630 8651903 8651903 13962809 4665977 4665977 9296832 9296832 ENDOWMENT FUNDS FORM 990, SCHEDULE D, PART V, LINE 4 CFS's endowment consists of a portfolio of funds established to provide a source of operating funds as well as long-term financial stability. FIN 48 FOOTNOTE FORM 990, SCHEDULE D, PART X NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS DUE TO CFS'S EXEMPT STATUS. CFS FOLLOWS THE APPROPRIATE ACCOUNTING GUIDANCE WHICH PRESCRIBES A MODEL FOR THE RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, AND PROVIDES GUIDANCE ON RECOGNITION, CLASSIFICATION, INTEREST, AND PENALTIES, DISCLOSURE AND TRANSITION. AT JUNE 30, 2012, THESE FINANCIAL STATEMENTS DO NOT INCLUDE ANY MATERIAL TAX POSITIONS. FORM 990, SCHEDULE D, PART XI, LINE 8 OTHER CHANGES IN NET ASSETS INCREASE IN UNFUNDED PENSION STATUS $(4,634,585) FORM 990, SCHEDULE D, PART XII, LINE 2D RECONCILIATION OF REVENUES RECLASS OF SPECIAL EVENTS EXPENSE $31,392 FORM 990, SCHEDULE D, PART XIII, LINE 2D RECONCILIATION OF Expenses INCREASE IN UNFUNDED PENSION STATUS $4,634,585 RECLASS OF SPECIAL EVENTS EXPENSE $31,392 ---------- TOTAL $4,665,977 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 THE POLICY AS TO NONDISCRIMINATION AS TO STUDENTS IS PUBLISHED IN THE PARENT/STUDENT HANDBOOK, THE PHILADELPHIA INQUIRER, THE PHILADELPHIA DAILY NEWS AND OTHER LOCAL NEWSPAPERS AND JOURNALS OF GENERAL CIRCULATION. SCHEDULE E, LINE 6 FINANCIAL ASSISTANCE IS RECEIVED FROM THE STATE OF PENNSYLVANIA IN THE FORM OF AN ALLOWANCE (CREDIT) TO BE USED FOR THE RENTAL OF TEXTBOOKS AND OTHER EDUCATIONAL MATERIALS PROVIDED BY THE STATE TO ITS PUBLIC SCHOOLS. SINCE THE SCHOOL IS PRIVATE, THIS PROVIDES THE MEANS FOR THE SCHOOL TO PROVIDE AVAILABLE MATERIALS WITHOUT THE INCURRENCE OF SIGNIFICANT EXPENDITURES. GOLF CLASSIC 81535 81535 10948 12146 8298 0 81535 81535 10948 12146 8298 31392 50143 X X true true X X X true false false false false false false false false REV EDMUND K SHERRILL II 165000 0 0 42280 67056 274336 NEIL J FANELLI JR 147199 0 0 11600 16988 175787 WILLIAM W WENTZEL 90664 0 19572 23850 6668 140754 Compensation Information Form 990, Schedule J, Part I, Line 1 The School provides housing and other benefits to certain key employees as a requirement of their duties or as a benefit of employment. The value of these benefits are included in the taxable wages of these employees, to the extent they are not otherwise excluded from such by the Internal Revenue Code and all are disclosed, as required, on Schedule J. Schedule J, Part I, Line 4A William Wentzel is the former Assistant Head of School. Mr. Wentzel ceased employment at Church Farm School EFFECTIVE June 30, 2011 and continued to receive compensation IN ACCORDANCE WITH HIS SEPERATION AGREEMENT BASED UPON HIS YEARS OF SERVICE TO THE SCHOOL. FORM 990, PART VI, LINE 2 There are THREE directors, Samuel H. Ballam, III, John Pickering, AND KERMIT ECK who are partners in the same investment firm. CFS does not do business with this investment firm. FORM 990, PART VI, LINE 11 The Form 990 was prepared by a nationally RECOGNIZED accounting firm in conjunction with the organization's financial department. A copy of the draft Form 990 was first circulated to the Finance Committee and then distributed to the full Board of Trustees for discussion and comment. Each Board Member was provided opportunity to comment on the information contained in the 990 prior to its filing with the Internal Revenue Service. FORM 990, PART VI, LINE 12 Annually each officer, director, and key employee is required to respond to management's "Activity Questionnaire" FORM 990, PART VI, LINE 15 The Executive Committee of the Board engageD an independent school compensation consultant to help structure the CEO contract and to benchmark the compensation package to industry standards (Nat'l Association of Independent Schools data base, etc). FORM 990, PART VI, LINE 19 The noted documents are provided upon request. FORM 990, PART XI Reconciliation of Net Assets OTHER CHANGES IN NET ASSETS OR FUND BALANCES EXPLAINED: UNREALIZED LOSS ON INVESTMENTS $(7,168,022) INCREASE IN UNFUNDED PENSION STATUS (4,634,585) ----------- TOTAL OTHER CHANGES (11,802,607)