2012-05-02T11:00:17-05:00 2011-06-30 MALONEY NOVOTNY LLC 1111 SUPERIOR AVENUE SUITE 700 CLEVELAND OH 44114 990 2010-07-01 340714390 WESTERN RESERVE ACADEMY WEST 3306509713 115 COLLEGE STREET HUDSON OH 442362926 JOHN TORTELLI 2012-04-20 CHRISTOPHER B ANDERSON 2163630100 2010 2016-02-24 21:20:13Z Christopher D Burner 115 COLLEGE STREET HUDSON OH 442362926 95334448 false X WWW.WRA.NET X 1826 OH THE MISSION OF THE ACADEMY IS AS FOLLOWS: A WESTERN RESERVE ACADEMY EDUCATION OFFERS A TRANSFORMATIONAL EXPERIENCE WHERE STUDENTS STRIVE FOR EXCELLENCE, LIVE WITH INTEGRITY, AND ACT WITH COMPASSION. 23 23 237 50 -157561 -157561 3035589 2602098 14294737 14880086 8735532 14421109 82743 141875 26148601 32045168 4318011 4277776 0 0 10494386 11096266 0 0 1575076 8735824 9355176 23548221 24729218 2600380 7315950 157648257 164698453 27825897 27881437 129822360 136817016 THE MISSION OF THE ACADEMY IS AS FOLLOWS: A WESTERN RESERVE ACADEMY EDUCATION OFFERS A TRANSFORMATIONAL EXPERIENCE WHERE STUDENTS STRIVE FOR EXCELLENCE, LIVE WITH INTEGRITY, AND ACT WITH COMPASSION. false false 19950057 4277776 14880086 The Academy is a secondary co-educational school with approximately 400 students. Our faculty cultivates intellectual curiosity through a challenging college preparatory program; our students pursue a rigorous liberal arts curriculum and engage in opportunities beyond the classroom in arts, athletics, and service, ensuring growth in mind, body, and spirit. The Academy's close-knit community instills individual and social responsibility, while preparing students as citizens and leaders in an increasingly interconnected world. 19950057 true true false false false false false false true true true false false true false true false true false false false false false true false false false true true true false false false false false false false false false false true false false false true false false false false false true 32 1 true 237 true true true false false false false false false false false false X 23 23 false false false false false false false true true false false true true true true true true true true false OH X JOHN J TORTELLI 3306509713 115 COLLEGE STREET HUDSON OH 442362926 DANIEL CHRISTMAN 1.0 X 0 0 0 STEPHAN W COLE 1.0 X X 0 0 0 JOHN M FOWLER 1.0 X X 0 0 0 R MARK HAMLIN JR 1.0 X 0 0 0 RONALD M HARRINGTON 1.0 X 0 0 0 OLIN J HEESTAND JR 1.0 X 0 0 0 PETER S HELLMAN 1.0 X 0 0 0 DAVID M HUNTER 1.0 X X 0 0 0 ROBERT T MICHAEL PHD 1.0 X 0 0 0 ANDREW R MIDLER 1.0 X X 0 0 0 MARY KATHERINE ONG LANDINI 1.0 X 0 0 0 GREGORY PENNINGTON PHD 1.0 X 0 0 0 LAWRENCE R ROTH 1.0 X 0 0 0 MARK R TERCEK 1.0 X 0 0 0 TIMOTHY R WARNER 1.0 X X 0 0 0 JASON M WORTENDYKE 1.0 X 0 0 0 Mark H Weidenmann 1.0 X 0 0 0 Shannah Tharp-Taylor 1.0 X 0 0 0 Nathaniel E Leonard 1.0 X 0 0 0 Anne C Goodman 1.0 X 0 0 0 Dagmar F Fellowes 1.0 X 0 0 0 James D Chambers 1.0 X X 0 0 0 Hewitt B Shaw 1.0 X 0 0 0 JOHN J TORTELLI 40.0 X 152043 0 42915 Christopher D Burner 40.0 X 227325 0 48621 James A Gundy 40.0 X 177586 0 30840 William A Bugg III 40.0 X 127786 0 39592 Anne F Sheppard 40.0 X 104856 0 36367 Jeffrey L Jacot 40.0 X 104040 0 31341 893636 0 229676 6 false true false CAMBRIDGE ASSOCIATES LLC POBox 10312 UNIONDALE NY 11555 INVESTMENT CONSULT 200453 1 2602098 659654 2602098 BOARDING STUDENTS 900099 10032600 10032600 DAY STUDENTS 900099 4084230 4084230 RELATED ENTERPRISES 900099 763256 763256 14880086 8670552 -157561 8828113 0 0 68932787 63182230 5750557 5750557 5750557 248925 107050 141875 141875 0 0 0 32045168 14880086 -157561 14720545 0 4277776 4277776 0 0 397500 99375 198750 99375 0 7610291 5890579 1030634 689078 739383 628475 59151 51757 1748983 1486635 139919 122429 600109 510092 48009 42008 0 101970 50985 50985 61950 61950 0 0 478389 478389 759514 759514 196355 196355 502716 427309 40217 35190 187437 159321 14995 13121 0 1545596 1468316 46368 30912 190987 57296 133691 0 41783 39694 1253 836 115178 115178 0 1493608 1418928 44808 29872 211733 201146 6352 4235 INSTRUCTION 153301 153301 FOOD SERVICES 548937 548937 AUXILIARY ENTERPRISES 310752 310752 OTHER 2058094 868395 867127 322572 RESTRICTED STUDENT ACTIV. 396876 396876 24729218 19950057 3204085 1575076 2179600 1335548 3675922 2617555 2362879 2756143 52967 19860 163043 133773 69172979 21523812 48504279 47649167 38011229 40761620 62064690 68813646 131338 115231 502310 495910 157648257 164698453 516313 688089 4446865 4774455 19900000 19600000 2962719 2818893 27825897 27881437 X 42487558 42693675 19398704 17535002 67936098 76588339 129822360 136817016 157648257 164698453 X 7315950 -321294 X false true true X false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 51423245 1608225 5919216 862164 1505233 56583289 47062845 2551123 5615580 1510601 2295702 51423245 56548124 3103257 -11620408 725025 243103 47062845 0.30880 0.42580 0.26540 false false 0 1636412 1636412 0 63466306 18410512 45055794 0 4019670 3113300 906370 0 50591 50591 47649167 ALTERNATIVE INVESTMENTS 68813646 F 68813646 0 ANNUITIES PAYABLE 1666100 INTEREST RATE SWAP 1152793 2818893 32045168 24729218 7315950 -409204 87910 -321294 6994656 26967709 -409204 87910 -321294 27289003 478389 4277776 4756165 32045168 19973053 19973053 478389 4277776 4756165 24729218 OTHER CHANGES IN NET ASSETS, PART XI, LINE 8: CHANGE IN VALUE OF INTEREST RATE SWAP $138,326; CHANGE IN SPLIT INTEREST AGREEMENTS ($50,416); TOTAL ADJUSTMENT = $87,910. Other Changes in Revenue, Part XII, Line 2D: CHANGE IN VALUE OF INTEREST RATE SWAP $138,326; CHANGE IN SPLIT INTEREST AGREEMENTS ($50,416); TOTAL ADJUSTMENT = $87,910. OTHER CHANGES IN REVENUE, PART XII, LINE 4B: STUDENT FINANCIAL AID, WHICH WAS NETTED WITH TUITION REVENUE ON THE FINANCIAL STATEMENTS BUT SHOWN AS AN EXPENSE IN PART IX OF FORM 990: $4,277,776 OTHER CHANGES IN EXPENSES, PART XIII, LINE 4B: STUDENT FINANCIAL AID, WHICH WAS NETTED WITH TUITION REVENUE ON THE FINANCIAL STATEMENTS BUT SHOWN AS AN EXPENSE IN PART IX OF FORM 990: $4,277,776. INTENDED USES OF ENDOWMENT FUNDS, PART V, LINE 4: THE ACADEMY INVESTS ENDOWMENT FUNDS ACCORDING TO BOARD-APPROVED INVESTMENT POLICIES WHICH GOVERN ASSET ALLOCATION IN AN EFFORT TO REDUCE RISK OF LOSS AND TO GENERATE A REAL ANNUAL COMPOUND RATE OF RETURN AT LEAST EQUAL TO THE ANNUAL PAYOUT PERCENTAGE. THE ANNUAL PAYOUT FROM ENDOWMENT FUNDS IS LIMITED TO 5% OF THE THREE YEAR AVERAGE WEIGHTED MARKET VALUE OF INVESTABLE ASSETS IN THE PERMANENTLY RESTRICTED FUND AND ARE SUBJECT TO BOARD APPROVAL. THE PAYOUT IS SPENT ON ACTIVITIES WHICH FURTHER THE EXEMPT EDUCATIONAL PURPOSES OF THE ACADEMY. true true true true true true true false false false false false false false false false true PUBLICATION OF RACIALLY NONDISCRIMINATORY POLICY, PART I, LINE 3: WESTERN RESERVE ACADEMY PUBLICIZES ITS POLICY IN LOCAL NEWSPAPERS DURING THE TIME WHICH IS THE PERIOD OF STUDENT SOLICITATION. Antiques Festiv 78737 78737 43723 Silent auction 170188 170188 63327 0 248925 248925 107050 107050 141875 true SCHOLARSHIPS FOR STUDENTS 171 4277776 Monitoring use of Grant Funds, Part I, Line 2: THE ACADEMY ENSURES THAT ITS FINANCIAL AID GRANTS ARE USED FOR EDUCATIONAL PURPOSES BY CREDITING THE AMOUNTS DIRECTLY TO THE STUDENTS' ACCOUNTS RATHER THAN ISSUING CHECKS. X X true true X X X false false false false false false false false false JOHN J TORTELLI 152043 0 0 0 0 0 17537 0 25378 0 194958 0 0 0 Christopher D Burner 227325 0 0 0 0 0 22425 0 26196 0 275946 0 0 0 James A Gundy 177586 0 0 0 0 0 13740 0 17100 0 208426 0 0 0 William A Bugg III 127786 0 0 0 0 0 14663 0 24929 0 167378 0 0 0 BENEFITS PROVIDED TO CERTAIN OFFICERS, Part I, Line 1A: The following individuals are provided housing as a part of their job duties: Mr. Burner, Mr. Gundy, Mr. Bugg, and Mr. Jacot. The housing benefit is not treated as taxable compensation to the individuals. Additionally, dues for one social club are paid by Western Reserve Academy for the Head of School, Mr. Burner. The social club is used only for Academy business. The value of the club membership is not treated as taxable compensation to Mr. Burner. SUMMIT COUNTY PORT AUTHORITY 341765940 2011-05-26 19600000 REFINANCING OF 2002 BONDS false false false 19350000 0 19600000 0 0 0 250000 0 0 0 0 0 2011 true false true true false false false false false 0.00000 0.00000 0.00000 true false true true JP MORGAN 20. false false false false false X 40 659654 FMV 0 false true true USE OF THIRD PARTIES, PART I, LINE 32B: THE ACADEMY USES A SECURITIES BROKER TO SELL DONATED SECURITIES. THE FEES CHARGED BY THE BROKER ARE AT OR BELOW FAIR MARKET VALUE. Form 990 Review, FORM 990, PART VI, LINE 11B: FORM 990 IS REVIEWED BY A COMMITTEE OF THE BOARD OF TRUSTEES WITH THE BOARD'S AUTHORITY TO OVERSEE THE FILING PROCESS. MONITORING AND ENFORCEMENT OF CONFLICT POLICY, FORM 990, PART I, LINE 12C: THE CONFLICT OF INTEREST QUESTIONNAIRES ARE REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. SIGNIFICANT ISSUES ARE DISCUSSED AND RESOLVED. WHEN A CONFLICT ARISES, THE INDIVIDUAL IS NOT PERMITTED TO PARTICIPATE IN THE DISCUSSION OF THE TRANSACTION OR TO VOTE ON THE MATTER. THE DECISION ABOUT THE TRANSACTION IS MADE BY PERSONS WHO ARE INDEPENDENT OF THE INDIVIDUAL WITH THE CONFLICT. COMPENSATION REVIEW AND APPROVAL, FORM 990, PART VI, LINE 15: IN JUNE, 2010, MEMBERS OF THE BOARD OF TRUSTEES WERE GIVEN COMPARABLE SALARY DATA FOR ALL MEMBERS OF THE HEAD OF SCHOOL COMMITTEE. THE HEAD OF SCHOOL WAS INVOLVED IN THE DISCUSSIONS FOR THE COMPENSATION FOR THE MEMBERS OF THE HEAD OF SCHOOL COMMITTEE BUT WAS NOT PRESENT FOR THE DISCUSSION OF HIS OWN COMPENSATION. TRUSTEES DETERMINED THE HEAD OF SCHOOL'S COMPENSATION BASED UPON HIS PERFORMANCE RELATIVE TO OTHER SIMILAR POSITIONS. COMPENSATION DECISIONS ARE MADE BY PERSONS WHO ARE INDEPENDENT OF THE EMPLOYEES FOR WHOM COMPENSATION IS BEING DETERMINED. AVAILABILITY OF DOCUMENTS, FORM 990, PART VI, LINE 19: THE ACADEMY'S FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE ACADEMY DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT POLICY AVAILABLE. OTHER CHANGES IN NET ASSETS, FORM 990, PART XI, LINE 5: CHANGE IN VALUE OF INTEREST RATE SWAP $138,326; CHANGE IN SPLIT INTEREST AGREEMENTS ($50,416); UNREALIZED LOSS ON INVESTMENTS: ($409,204); TOTAL ADJUSTMENT: ($321,294). WHITE TAIL INVESTMENTS LTD 115 COLLEGE STREET HUDSON OH 44236 270257176 INVESTMENTS OH 154716 2179177 WRA