2012-08-08T08:41:28-05:00 2011-12-31 232932984 PARENTEBEARD LLC 1650 MARKET STREET SUITE 4500 PHILADELPHIA PA 19103 990 2011-01-01 141260763 ASSOCIATION OF THE GRADUATES OF THE UNITED STATES MILITARY ACADEMY ASSO 8454461500 BLDG 698 HERBERT HALL MILLS RD WEST POINT NY 10996 CARL P MOCCIA 8454461500 2012-08-07 1 JULIUS GREEN CPA P00350393 2159720701 2011 2016-02-24 21:20:13Z WEST POINT ASSOC OF GRADUATES ROBERT L MCCLURE BLDG 698 HERBERT HALL MILLS RD WEST POINT NY 10996 83209009 0 X WWW.WESTPOINTAOG.ORG X 1869 NY FURTHERING THE IDEALS AND WELFARE OF THE USMA AND SUPPORTING AND SERVING ITS GRADUATES. 15 13 93 113 133662 -66905 34749738 36185601 1759629 1802254 3695755 6450890 1225047 1564876 41430169 46003621 11012722 12789286 0 0 6279900 6426414 415366 251809 5538278 4767849 4257584 22475837 23725093 18954332 22278528 230194551 245694257 10264285 11676757 219930266 234017500 THE ASSOCIATION IS AN ORGANIZATION DEDICATED TO FURTHERING THE IDEALS AND PROMOTING THE WELFARE OF THE UNITED STATES MILITARY ACADEMY AND SERVING ITS GRADUATES. 0 0 13360008 12789286 FUND RAISING, EDUCATIONAL AND HISTORICAL: PROVIDES THE STRUCTURE NECESSARY TO ENCOURAGE AND SECURE PRIVATE FINANCIAL SUPPORT FROM INDIVIDUALS, FOUNDATIONS AND CORPORATIONS FOR THE "MARGIN OF EXCELLENCE". THE MARGIN OF EXCELLENCE PROVIDES AN ARRAY OF DIVERSE OPPORTUNITIES THAT ADD RICHNESS TO THE CADET EXPERIENCE AND BETTER PREPARES THEM TO BE THE BROAD-MINDED, ETHICAL LEADERS UPON WHOM WE ALL DEPEND. EDUCATIONAL AND HISTORICAL COMPRISES ACTIVITIES FOR THE DISSEMINATION OF INFORMATION ON THE HISTORY, OBJECTIVES AND METHODS OF THE UNITED STATES MILITARY ACADEMY TO INCLUDE THE ENCOURAGEMENT OF THE STUDY OF MILITARY SCIENCE AND LEADERSHIP AND TO ENHANCE THE IMAGE OF THE UNITED STATES MILITARY ACADEMY. 2782820 2268193 ALUMNI SERVICES: ENCOMPASSES ACTIVITIES AND SERVICES PROVIDED FOR LIVING GRADUATES INCLUDING THE MAINTENANCE OF DETAILED BIOGRAPHICAL AND HISTORICAL RECORDS ON GRADUATES OF THE UNITED STATES MILITARY ACADEMY AND INCLUDES THE OPERATIONS OF THE GIFT SHOP. 944065 120514 PUBLICATIONS: DISSEMINATES INFORMATION ON THE HISTORY, ACTIVITIES, OBJECTIVES AND METHODS OF THE UNITED STATES MILITARY ACADEMY THROUGH VARIOUS PUBLICATIONS. 17086893 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 0 0 0 0 1 56 0 1 93 1 1 1 1 CJ 0 0 0 1 1 0 0 0 0 X 15 13 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AK AZ AR CA CO DC HI IL KS KY LA ME MD MA MI MN MS NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV X X X THE ORGANIZATION 8454461500 BUILDING 698 HERBERT HALL MILLS RD WEST POINT NY 10996 JODIE K GLORE 12.00 X 0 0 0 HERMAN E BULLS 12.00 X 0 0 0 D DAVID HOSTLER 7.00 X 0 0 0 STANLEY J SHIPLEY 7.00 X 0 0 0 DARCY G ANDERSON 7.00 X 0 0 0 JOSEPH E DEFRANCISCO 7.00 X 0 0 0 GEORGE H GILMORE JR 7.00 X 0 0 0 LAWRENCE R ADAIR 7.00 X 0 0 0 ELLEN W HOULIHAN 7.00 X 0 0 0 LARRY R JORDAN 7.00 X 0 0 0 ROBERT D WEISS 7.00 X 0 0 0 FRANK B JANOSKI 7.00 X 0 0 0 REBECCA S HALSTEAD 7.00 X 0 0 0 JAMES Z WARTSKI 7.00 X 0 0 0 JOHN M ROBB 7.00 X 0 0 0 ROBERT L MCCLURE 40.00 X 271248 0 18862 CARL MOCCIA 40.00 X 169426 0 24473 JOHN CALABRO 40.00 X 160202 0 13542 JAMES JOHNSTON 40.00 X 112257 0 11380 KRISTIN SORENSON 40.00 X 220622 0 21700 JOHN D SMITH 40.00 X 125120 0 5457 WILLIS FREED LOWREY 40.00 X 121962 0 12998 JULIAN OLEJNICZAK 40.00 X 107092 0 8837 LISA STRINE 40.00 X 105368 0 8497 SAMANTHA SOPER 40.00 X 100005 0 594 1493302 0 126340 10 0 1 0 IRON SWORD ENTERPRISES LLC 84 OLD 9W NEW WINDSOR NY 12553 ENGINEERING/CONSTRUCTION 729086 THE DOCUMENTARY GROUP LLC 125 WEST END AVENUE NEW YORK NY 10023 DOCUMENTARY DVD PRODUCTION 437000 MARRIOTT BUSINESS SERVICES PO BOX 402642 ALANTA GA 303842642 BANQUET FACILITIES 359970 AFRC INC 208 PASSAIC AVENUE FAIRFIELD NJ 07004 PHONATHON 347868 EASTERN HEATING AND COOLING INC 880 BROADWAY ALBANY NY 122071316 AIR CONDITIONING 286663 14 36185601 2107830 36185601 ALUMNI SERVICES 561520 889102 860436 28666 ALUMNI EVENTS 900099 437099 437099 PUBLICATION SALES 511190 264442 120514 143928 MISCELLANEOUS 900099 158489 197421 -38932 SPONSORSHIPS 900099 53122 53122 1802254 3149078 3149078 844761 844761 39716372 36414560 3301812 3301812 3301812 1510943 790828 720115 720115 46003621 2388707 133662 7295651 12388217 12388217 391119 391119 9950 9950 1023711 317536 231927 474248 4553908 1458780 1143433 1951695 164594 71035 36854 56705 246896 76851 49009 121036 437305 143606 104089 189610 53152 11425 41727 27479 23415 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27834 27834 173605798 16651513 0.79860 0.80470 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 144817084 6321338 -906437 766179 27164962 2500 122298344 121695482 11274580 13994672 2168076 -25426 5000 144817084 101170198 3203089 17854153 1087312 -561704 6350 121695482 136756995 5182955 -36378104 2908960 1473944 8744 101170198 0.00000 1.00000 0.00000 0 0 9480057 4042216 5437841 265341 247058 18283 272780 160987 111793 5567917 22811408 F OTHER INVESTMENT 258046 F 23069454 SPLIT INTEREST TRUSTS 23759771 23759771 DEFERRED COMPENSATION 393737 REMAINDER TRUSTS 3017545 DUE TO CLASSES 2545656 5956938 46003621 23725093 22278528 -5695434 -2495860 -8191294 14087234 40980373 -5695434 -157574 -5853008 46833381 -829760 -829760 46003621 26893139 3325620 3325620 23567519 157574 157574 23725093 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENTS ARE USED IN FURTHERING THE IDEALS AND PROMOTING THE WELFARE OF THE UNITED STATES MILITARY ACADEMY AND ITS GRADUATES. IN PREVIOUS YEARS, CERTAIN FUNDS WERE INCLUDED AS QUASI-ENDOWMENTS OF APPROXIMATELY $30,654,568. AFTER RE-EXAMINING THE DONORS' INTENT, WE EXCLUDED THESE FROM THE ENDOWMENT FUND BALANCE. AN ADJUSTMENT WAS MADE TO RESTATE THE REPORTED FUND BALANCE IN 2011. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: EFFECTIVE JANUARY 1, 2009, THE ASSOCIATION ADOPTED GUIDANCE ISSUED BY THE FASB REGARDING ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE INCOME TAX POSITIONS TAKEN BY THE ASSOCIATION FOR ANY YEARS OPEN UNDER THE VARIOUS STATUTES OF LIMITATIONS ARE THAT THE ASSOCIATION CONTINUES TO BE EXEMPT FROM INCOME TAXES AND THAT THE ASSOCIATION EARNS REVENUES FROM CERTAIN ACTIVITIES WHICH ARE CONSIDERED UNRELATED BUSINESS TAXABLE INCOME UNDER THE INTERNAL REVENUE CODE. IN BOTH 2011 AND 2010, HOWEVER, UNRELATED BUSINESS INCOME (NET OF APPLICABLE EXPENSES) RESULTED IN NO MATERIAL TAX EXPENSE. THE ADOPTION OF THIS GUIDANCE DID NOT IMPACT THE ASSOCIATION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE ASSOCIATION BELIEVES THAT THERE ARE NO OTHER TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD SIGNIFICANTLY INCREASE OR DECREASE UNRECOGNIZED TAX BENEFITS WITHIN 12 MONTHS OF THE REPORTING DATE. NONE OF THE ASSOCIATION'S FEDERAL OR STATE INCOME TAX RETURNS IS CURRENTLY UNDER EXAMINATION BY THE INTERNAL REVENUE SERVICE ("IRS") OR STATE AUTHORITIES. HOWEVER FISCAL YEARS 2007 AND LATER REMAIN SUBJECT TO EXAMINATION BY THE IRS AND NEW YORK STATE. PART XI, LINE 8 - OTHER ADJUSTMENTS: UBI LOSS FROM PARTNERSHIP INVESTMENTS NOT RECORDED ON BOOKS 38,932. PROVISION FOR UNCOLLECTIBLE PLEDGES -2,534,792. TOTAL TO SCHEDULE D, PART XI, LINE 8: -2,495,860. PART XII, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT EXPENSES NETTED WITH REVENUE ON FINANCIAL STATEMENTS -157,574. PART XII, LINE 4B - OTHER ADJUSTMENTS: COSTS OF GOODS SOLD -790,828. UBI LOSS FROM PARTNERSHIP INVESTMENTS NOT RECORDED ON BOOKS -38,932. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 790,828. PROVISION FOR UNCOLLECTIBLE PLEDGES 2,534,792. PART XIII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT EXPENSES NETTED WITH REVENUE ON FINANCIAL STATEMENTS 157,574. 0 0 0 0 0 0 0 0 0 SCHOLARSHIP EUROPE (INCLUDING ICELAND & GREENLAND) 1 5950 WIRE TRANSFER; CHECK 0 N/A N/A SCHOLARSHIP SUB-SAHARAN AFRICA 1 4000 WIRE TRANSFER 0 N/A N/A 1 0 0 0 0 0 X X X X 1 ADVANTAGE (AFRC INC) 208 PASSAIC AVENUE FAIRFIELD NJ 07004 PHONE & MAIL 0 1218332 251809 966523 1218332 251809 966523 AL AK AZ CA CO DC HI IL KS KY ME MD MA MI MN MS NH NJ NM NY NC 1 UNITED STATES MILITARY ACADEMY WEST POINT WEST POINT NY 10996 141364902 151907 112000 COST FLASHLIGHTS MEMORIAL PROJECTS UNITED STATES MILITARY ACADEMY WEST POINT WEST POINT NY 10996 141364902 15650 FMV ARTWORK MEMORIAL PROJECTS UNITED STATES MILITARY ACADEMY WEST POINT WEST POINT NY 10996 141364902 3243115 17790 FMV MILITARY MANUALS CADET EDUCATION UNITED STATES MILITARY ACADEMY WEST POINT WEST POINT NY 10996 141364902 2138962 2000 COST 200 MEALS @ HV BB CLASSIC CADET FACILITIES UNITED STATES MILITARY ACADEMY WEST POINT WEST POINT NY 10996 141364902 3136961 227235 COST TICKETS/EQUIP/RENOVATION CADET ACTIVITIES UNITED STATES MILITARY ACADEMY WEST POINT WEST POINT NY 10996 141364902 101927 FMV TRAINING/TRAVEL CADET ACTIVITIES UNITED STATES MILITARY ACADEMY WEST POINT WEST POINT NY 10996 141364902 3221870 18800 FMV BRONZE FLYING COL. STATUE MISCELLANEOUS USMA ASSISTANCE 1 SCHOLARSHIPS 89 391119 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE ASSOCIATION PROVIDES GRANTS TO THE UNITED STATES MILITARY ACADEMY ("USMA"). SINCE THE USMA IS A FEDERAL GOVERNMENT INSTITUTION, THE ASSOCIATION DOES NOT MONITOR THE USE OF THESE GRANT FUNDS. CERTAIN SCHOLARSHIPS (PRIMARILY PREP SCHOOLS) ARE PROVIDED TO CAREFULLY SELECTED AND HIGHLY MOTIVATED YOUNG PEOPLE SEEKING ADMISSION TO USMA. FURTHER, OTHER GRANTS ARE AWARDED TO CAPTAINS AND MAJORS IN THE REGULAR ARMY FOR ADVANCED EDUCATION, LANGUAGE SKILLS, AND CULTURAL IMMERSION NECESSARY FOR UNDERSTANDING AND COMBATING INTERNATIONAL TERRORISM. X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 ROBERT L MCCLURE 226248 0 45000 0 0 0 17077 0 1785 0 290110 0 0 0 CARL MOCCIA 168426 0 1000 0 0 0 13452 0 11021 0 193899 0 0 0 JOHN CALABRO 159202 0 1000 0 0 0 11921 0 1621 0 173744 0 0 0 KRISTIN SORENSON 220622 0 0 0 0 0 11500 0 10200 0 242322 0 0 0 PART I, LINE 1A WPAOG PROVIDES A MINIMAL AMOUNT OF TRAVEL EXPENSE FOR THE SPOUSE OF PRESIDENT & CEO ROBERT MCCLURE TO ATTEND CERTAIN BUSINESS EVENTS THAT REQUIRE HER PARTICIPATION. ALL OFFICIAL SPOUSAL TRAVEL MUST BE APPROVED IN ADVANCE BY THE BOARD OF DIRECTORS IN WRITING. WPAOG ALSO PAYS SOCIAL CLUB MEMBERSHIP DUES FOR PRESIDENT & CEO ROBERT MCCLURE TO ATTEND BUSINESS FUNCTIONS. WPAOG REQUIRES THE MEMBERSHIP SO THAT IT MAY USE THE CLUB'S FACILITIES FOR BUSINESS MEETINGS. THESE BENEFITS ARE NOT INCLUDED IN TAXABLE COMPENSATION SINCE THEY ARE BUSINESS RELATED. PART I, LINE 4B THE ASSOCIATION HAS ARRANGEMENTS WITH ITS EXECUTIVE OFFICERS WHEREBY SPECIFIED AMOUNTS OF THEIR COMPENSATION ARE DEFERRED. THESE AMOUNTS ARE INVESTED ON BEHALF OF THE EXECUTIVES AND ARE PAYABLE UPON THEIR RETIREMENT. NO AMOUNTS WERE PAID OR VESTED TO THE OFFICERS DURING 2011. PART I, LINE 7 THE BOARD HAS THE AUTHORITY TO AWARD THE EXECUTIVE OFFICER WITH A BONUS WHICH IS DEPENDENT UPON PERFORMANCE. THE AMOUNT OF THE BONUS TO BE AWARDED IS DECIDED BY THE BOARD, ALTHOUGH THE AMOUNT CANNOT BE ABOVE A SPECIFIC THRESHOLD. THE EXECUTIVE OFFICER AWARDS BONUSES TO THE OTHER OFFICERS AND EMPLOYEES BASED UPON MERIT. EASTERN HEATING AND COOLING INC ENTITY HAS COMMON BOARD MEMBERS WITH WPAOG 286663 WPAOG BOARD MEMBERS HERMAN E. BULLS AND DARCY G. ANDERSON ALSO SERVE AS DIRECTORS OF COMFORT SYSTEM USA, INC., WHICH IS THE PARENT COMPANY OF EASTERN HEATING AND COOLING, INC. EASTERN HEATING AND COOLING, INC. IS ONE OF THE TOP FIVE HIGHEST COMPENSATED INDEPENDENT CONTRACTORS OF WPAOG FOR 2011. EASTERN HEATING AND COOLING, INC. PROVIDED SERVICES TO UPGRADE THE AIR CONDITIONING SYSTEM AT ONE OF THE CHAPELS AT THE UNITED STATES MILITARY ACADEMY. WPAOG FOLLOWS A CONFLICT OF INTEREST POLICY, AND ALL TRANSACTIONS ARE CONDUCTED AT ARM'S LENGTH. 0 X 2 34450 FAIR VALUE X 32290 FAIR VALUE X 18260 COST X 75 1578110 FAIR VALUE X 1 1200 COST X TICKETS 6 148962 COST X TRAINING ITEMS 6 192231 COST X TRAVEL COSTS 11 49327 FAIR VALUE X USE OF AIRPLANE 1 53000 FAIR VALUE 0 0 1 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): SCHEDULE M, PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS REPORTED IN PART I, COLUMN (B) IS BASED ON THE NUMBER OF DONORS PER CATEGORY OF GIFT. FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBERS HERMAN E. BULLS AND DARCY G. ANDERSON HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 6 ALL LIVING GRADUATES OF THE UNITED STATES MILITARY ACADEMY IN GOOD STANDING QUALIFY AS MEMBERS OF THE ASSOCIATION. THE MEMBERSHIP BODY PRESENTLY EXCEEDS 48,000 IN NUMBER. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS NOMINATE AND ELECT THE BOARD OF DIRECTORS OF THE ASSOCIATION, AS WELL AS RATIFYING BY-LAW CHANGES. FORM 990, PART VI, SECTION A, LINE 7B APPROPRIATIONS FROM THE CORPUS OF THE ENDOWMENT REQUIRE APPROVAL OF THE MEMBERSHIP. FORM 990, PART VI, SECTION B, LINE 11 THE ACCOUNTING STAFF PREPARES THE INITIAL SCHEDULES TO BE USED BY THE OUTSIDE CPA FIRM FOR PREPARATION OF THE RETURN. THE DRAFTS ARE THEN REVIEWED BY THE ACCOUNTING STAFF AND THE CFO BEFORE A "FINAL" DRAFT IS SENT TO THE AUDIT & COMPLIANCE COMMITTEE OF THE BOARD OF DIRECTORS. THIS COMMITTEE HOLDS A SEPARATE MEETING WITH THE CPA FIRM AND THE CFO TO REVIEW THE ENTIRE DOCUMENT. ONCE REVIEWED AND AGREED, THE FORM 990 IS SENT TO THE ENTIRE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL. SUBSEQUENTLY, THE AUDIT COMMITTEE REPORTS THE REVIEW PROCESS TO THE FULL BOARD, NOTING ITS AGREEMENT WITH THE DOCUMENT AND ASKS IF THERE ARE ANY QUESTIONS PERTAINING TO THE DOCUMENT THAT WAS DISTRIBUTED TO EACH PERSON. A RESOLUTION IS THEN PASSED TO ACCEPT THE 990. FORM 990 IS FILED WITH THE IRS AFTER THIS PROCESS HAS TAKEN PLACE AND THE 990 HAS BEEN ACCEPTED BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C THERE IS A WRITTEN CONFLICT OF INTEREST POLICY APPLICABLE TO ALL BOARD MEMBERS, VOLUNTEERS AND STAFF. THE POLICY DOCUMENTATION IS DISTRIBUTED ANNUALLY TO EACH PERSON, INCLUDING NEW HIRES UPON HIRING. INDIVIDUALS ARE REQUIRED TO RETURN AN ACKNOWLEDGEMENT OF THEIR ACCEPTANCE AND ADHERENCE PROMPTLY TO THE SECRETARY OF THE ORGANIZATION. SITUATIONS INVOLVING ANY POSSIBILITY OF CONFLICT ARE REVIEWED BY THE ETHICS COMMITTEE TO ENSURE THAT ANY RELATED ISSUES ARE PROPERLY DEALT WITH. ANYONE WITH A CONFLICT OF INTEREST MUST RECUSE THEMSELVES FROM PARTICIPATING IN DISCUSSIONS BY THE ETHICS COMMITTEE, AND BOARD OF DIRECTORS REGARDING THE MATTER, AS WELL AS FROM ANY RELATED VOTE. FORM 990, PART VI, SECTION B, LINE 15 IN 2011 AND 2008, WEST POINT ASSOCIATION OF GRADUATES ("WPAOG") UTILIZED AN OUTSIDE HUMAN RESOURCES/COMPENSATION CONSULTANT TO REVIEW SALARIES AND PROVIDE FEEDBACK RELATING TO THEIR APPROPRIATENESS RELATIVE TO OUR PARTICULAR MARKET. THIS CONSULTANT ALSO REVIEWED THE SALARIES OF THE PRESIDENT, VICE PRESIDENTS AND OTHER OFFICERS TO ENSURE THAT THEY WERE WITHIN LEVELS CONSISTENT WITH THE MARKET. OUR COMPENSATION COMMITTEE ALSO REVIEWS THESE SALARIES TO ENSURE THAT THEY ARE REASONABLE AND IN-LINE WITH THE RELATED MARKET. THE COMPENSATION COMMITTEE IS COMPRISED OF INDEPENDENT BOARD MEMBERS. FORM 990, PART VI, SECTION C, LINE 19 WPAOG'S FINANCIAL STATEMENTS (ANNUAL AUDIT REPORT) AND BYLAWS ARE AVAILABLE ON OUR WEBSITE FOR PUBLIC VIEWING, AND OUR CONFLICT OF INTEREST POLICY IS POSTED TO THE INTERNAL SECTION FOR EMPLOYEES ONLY. THE CONFLICT OF INTEREST POLICY WOULD BE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -5,695,434. UBI LOSS FROM PARTNERSHIP INVESTMENTS NOT RECORDED ON BOOKS 38,932. PROVISION FOR UNCOLLECTIBLE PLEDGES -2,534,792. TOTAL TO FORM 990, PART XI, LINE 5: -8,191,294. LGL REAL ESTATE FOUNDATION LLC BLDG 698 HERBERT HALL MILLS ROAD WEST POINT NY 10996 134265639 REAL ESTATE HOLDING NY 0 0 N/A