2011-04-19T08:06:03-05:00 2010-06-30 PricewaterhouseCoopers LLP 2001 MARKET ST SUITE 1700 PHILADELPHIA PA 19103 990 2009-07-01 231365963 REGENTS OF THE MERCERSBURG COLLEGE REGE 7173286110 300 EAST SEMINARY STREET MERCERSBURG PA 172361551 MARIA L KIMSEY 2011-04-18 2673303000 2009 2016-02-24 21:20:13Z MARIA L KIMSEY treasurer 300 E SEMINARY ST MERCERSBURG PA 17236 101345800 false X www.mercersburg.edu X 1893 PA REGENTS OF THE MERCERSBURG COLLEGE IS A CO-EDUCATIONAL, INDEPENDENT COLLEGE PREPARATORY BOARDING AND DAY SCHOOL WHOSE MISSION IS TO PREPARE STUDENTS FOR COLLEGE AND LIFE BEYOND. 30 29 355 614 1551 -6026 8107033 4478957 18388310 18331801 -4199366 4075843 1745732 2069717 24041709 28956318 4524237 4924182 0 0 14073037 14262587 0 0 2593912 12892972 12103169 31490246 31289938 -7448537 -2333620 261602459 276945407 63368062 69777514 198234397 207167893 Mercersburg Academy prepares young men and women from diverse backgrounds for college and for life in a global community. Students at Mercersburg pursue a rigorous and dynamic curriculum while learning to live together harmoniously in a supportive residential environment. Mercersburg's talented faculty instill in students the value of hard work and the importance of character and community as they teach students to think for themselves, to approach life thoughtfully and creatively, to thrive physically, to act morally, to value the spiritual dimension of human existence, and to serve others. false false 26134549 19440113 REGENTS OF THE MERCERSBURG COLLEGE ("MERCERSBURG") IS AN EDUCATIONAL INSTITUTION PREPARING YOUNG MEN AND WOMEN FROM DIVERSE BACKGROUNDS FOR COLLEGE AND FOR LIFE IN A GLOBAL COMMUNITY. STUDENTS AT MERCERSBURG PURSUE A RIGOROUS AND DYNAMIC CURRICULUM, WHILE ALSO LEARNING TO LIVE TOGETHER HARMONIOUSLY IN A SUPPORTIVE RESIDENTIAL ENVIRONMENT. MERCERSBURG'S TALENTED FACULTY INSTILL IN STUDENTS THE VALUE OF HARD WORK AND THE IMPORTANCE OF CHARACTER AND COMMUNITY, AS THEY TEACH STUDENTS TO THINK FOR THEMSELVES, TO APPROACH LIFE THOUGHTFULLY AND CREATIVELY, TO THRIVE PHYSICALLY, TO ACT MORALLY, TO VALUE THE SPIRITUAL DIMENSION OF HUMAN EXISTENCE, AND TO SERVE OTHERS. FOR THE YEAR ENDING JUNE 30, 2010, 423 STUDENTS WERE ENROLLED AT MERCERSBURG. THESE STUDENTS WERE FROM 32 STATES AND 34 COUNTRIES. 26134549 true true false false false false true false true true true false true false true false false false false false false false true true true false false false false false true true false false true true true false false false false false false false true 96 0 true 355 true true true false false false false false false false false false false 30 29 false false false false false false false true true false false true true true true true true true true false PA X MARIA L KIMSEY TREASURER 7173286110 300 E SEMINARY ST MERCERSBURG PA 17236 Mr Andrew R Ammerman 2.0 X 0 0 0 Mr Charles E Bell 2.0 X 0 0 0 MR ALBERT C BELLAS 2.0 X 0 0 0 Mr Kenneth T Berents 2.0 X 0 0 0 Mr Peter D Davenport 2.0 X 0 0 0 MR MICHAEL P DAVIES 2.0 X 0 0 0 Mr Philip L Dunmire 2.0 X 0 0 0 Ms Denise M Dupre 2.0 X X 0 0 0 Bruce M Eckert Esq 2.0 X 0 0 0 Ms Sally Anne Epstein 2.0 X 0 0 0 DAVID O FRANTZ PHD 2.0 X X 0 0 0 Mr Joseph R Imler 2.0 X 0 0 0 Dr Florian Langenscheidt 2.0 X 0 0 0 Philip A Lloyd Esq 2.0 X 0 0 0 Elizabeth E Gildea Logie Esq 2.0 X 0 0 0 MR PIERCE LORD 2.0 X 0 0 0 Ms Karen A McDowell Marston 2.0 X 0 0 0 Mr Gabriel A Hammond 2.0 X 0 0 0 Douglas L Miller Esq 2.0 X 0 0 0 Mr Jamil T Myrie 2.0 X 0 0 0 John K Prentiss DVM 2.0 X 0 0 0 Ms Deborah J Simon 2.0 X 0 0 0 Paula M Johnson Smith PhD 2.0 X 0 0 0 Mr James S Snyder 2.0 X 0 0 0 Alan J Wein MD PhD 2.0 X 0 0 0 Mr Allen W Zern 2.0 X X 0 0 0 MR T Douglas Hale 60.0 X X 375354 0 28361 HON JOHN E JONES III 2.0 X 0 0 0 MR PETER M LEBOVITZ 2.0 X 0 0 0 STACIE L RICE LISSETTE ESQ 2.0 X 0 0 0 MS Maria Kimsey 60.0 X X 190690 0 22125 Ms Mary K Carrasco 60.0 X X 167940 0 55603 MS Mary D Rutherford 60.0 X 138529 0 20737 MR STEPHEN BLAKE 50.0 X 139312 0 51749 MR EUGENIO SANCHO 50.0 X 129364 0 15907 TOMMY ADAMS 50.0 X 128235 0 18057 MR WILLIAM MCCCLINTICK 50.0 X 104828 0 45602 MR JEFFREY GOETZ 50.0 X 104630 0 14363 1478882 0 272504 10 false true false SAGE DINING SERVICES 222 BOSLEY AVENUE SUITE B7 TOWNSON MD 21204 FOOD SERVICE 1750740 ROCKWELL CONSTRUCTION 5793 OAKWOOD DRIVE MERCERSBURG PA 17236 CONSTRUCTION 1481039 BOWIE GRIDLEY ARCHITECTS 1010 WISCONSIN AVENUE NW WASHINGTON DC 20007 ARCHITECT 602250 CENTERBROOK ARCHITECT PLANNERS LLP 67 MAIN STREET CENTERBROOK CT 064090955 ARCHITECT 515225 CEH DESIGN INC 4 JACKLIN ROAD BETHEL CT 06801 CONSULTANT 103180 6 4478957 163570 4478957 TUITION AND FEES 900099 18331801 18331801 18331801 2357758 2357758 0 0 1651 1651 1651 74107567 72389482 1718085 1718085 -3976 1722061 0 0 0 SUMMER PROGRAMS 900099 1108312 1108312 ACADEMY STORE 900099 230299 230299 DINING HALL 900099 19704 19704 709751 5527 704224 2068066 28956318 19440113 1551 5034046 0 4924182 4924182 0 0 1736167 1736167 0 0 0 9621154 7607284 1000600 1013270 943991 746398 98175 99418 1140271 901593 118588 120090 821004 649154 85384 86466 462768 365903 48128 48737 0 0 0 0 0 1691896 1337754 175957 178185 149436 118157 15541 15738 986193 779766 102564 103863 483191 382051 50252 50888 0 1704695 1347874 177288 179533 443000 350273 46072 46655 0 130337 103055 13555 13727 779512 616347 81069 82096 0 2293044 1813071 238477 241496 362898 286938 37741 38219 INTEREST RATE SWAP 1679598 1328030 174678 176890 CURRICULUM DEVELOPMENT 414951 328095 43155 43701 STUDENT ACTIVITIES 327397 258867 34049 34481 MISCELLANEOUS EXPENSES 105147 83135 10937 11075 TAXES 89106 70455 9267 9384 31289938 26134549 2561477 2593912 15312011 20094805 4404633 2564361 523612 476637 75000 50000 184706 178270 330848 691853 103631412 29243029 72232597 74388383 105678738 108287424 60591974 67945334 2268340 2268340 261602459 276945407 4836995 6441774 49115000 49235000 9416067 14100740 63368062 69777514 X 111257542 119816138 13756968 13848973 73219887 73502782 198234397 207167893 261602459 276945407 X false true true X false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 2268340 X X false 160090207 744669 19398636 1180000 7862914 462768 170727830 188299003 8463571 -24200409 1282650 10771579 417729 160090207 0.56000 0.42000 0.02000 false false false 81493 81493 89753883 27573837 62180046 1769965 1271120 498845 12026071 398072 11627999 74388383 ALTERNATIVE INVESTMENTS 67931864 F OTHER 13470 F 67945334 0 INT. RATE SWAP AGREEMENTS 8597362 ADVANCE DEPOSITS 4936046 ASSET RETIREMENT OBLIGATION 567332 14100740 28956318 31289938 -2333620 16390965 -5123849 11267116 8933496 35299252 16390965 -5123849 11267116 24032136 4924182 4924182 28956318 26365756 26365756 4924182 4924182 31289938 DESCTIPTION OF COLLECTIONS FORM 990, SCHEDULE D, PART III, LINE 4 MERCERSBURG ACADEMY MAINTAINS VARIOUS COLLECTIONS OF FINE ART FOR PRESERVATION PURPOSES. SUCH COLLECTIONS ARE OPEN TO PUBLIC EXHIBITION. DETAIL OF OTHER CHANGES IN NET ASSETS AND REVENUES FORM 990, SCHEDULE D, PART XI, LINE 8 AND PART XII, LINE 2D Net Unrealized Gain (loss) on swap agreement $(4,310,836) Investment Admin Fees Treated as contra Revenue (462,768) Change in Value of Annuity Agreements (350,245) ----------- $(5,123,849) RECONCILIATION OF REVENUES AND EXPENSES FORM 990, SCHEDULE D, PART XII, LINE 4B AND PART XIII, LINE 4B INSTITUTIONAL AID (GRANTS) $4,924,182 TEXT OF FIN 48 FOOTNOTE FORM 990, SCHEDULE D, PART X, LINE 2 Mercersburg applies accounting principles related to the accounting for uncertainty in income taxes ASC 740-10, which requires the use of a two-step approach for recognizing and measuring tax benefits taken or expected to be taken in an unrelated business activity tax return and disclosures regarding uncertainties in tax positions. true true true REGENTS OF THE MERCERSBURG COLLEGE PUBLICIZES ITS RACIALLY NON-DISCRIMATORY POLICY ANNUALLY IN THE WASHINTON POST IN THE FALL OF EACH YEAR. THE MOST RECENT NOTICE WAS POSTED IN THE DECEMBER 08, 2009 ISSUE. true true true true false false false false false false false false false false true Europe (Including Iceland and Greenland) Program Services International Travel 25000 South Asia Program Services International Travel 20230 East Asia and the Pacific Program Services International Travel 20100 Central America and the Caribbean Program Services International Travel 2875 Sub-Saharan Africa Program Services International Travel 240 Central America and the Caribbean Investments 76156 144601 true SCHOLARSHIPS 191 4894899 N/A NONE STIPENDS 24 29283 N/A NONE PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS IN THE UNITED STATES SCHEDULE I, PART I, LINE 2 Since 1893, Mercersburg Academy has, with extensive help from alumni, family, and friends of the school, offered students financial aid based primarily upon demonstrated financial eligibility. Mercersburg currently administers a generous financial aid program that funds over 40 percent of the student body. Understanding that a Mercersburg education is a significant investment, the financial aid committee works to determine a fair assessment of a family's ability to provide their children with the outstanding education available here. Mercersburg encourages families with limited means to apply for assistance based upon the assumption that the primary obligation for financing a student's education rests solely with the family. The Academy further expects that a family is willing to make significant adjustments in the use of its discretionary resources, as well as access ancillary resources available through family, work, and local organizations. In every instance, the financial aid committee seeks evidence that a family's commitment to their child's education is at least as strong as the Academy's. In order to determine a family's eligibility to receive financial aid in a fair and equitable manner, Mercersburg requires that all applicants complete the Parent Financial Statement (PFS) with the School and Student Service for Financial Aid (SSS) for each year of matriculation. X X X X true true X X X X false true false false false false false false false MR T Douglas Hale 307416 0 42938 0 25000 0 22050 0 6311 0 403715 0 403175 0 MS Maria Kimsey 187090 0 0 0 3600 0 16713 0 5412 0 212815 0 212815 0 MS Mary D Rutherford 134256 0 0 0 4273 0 12407 0 8330 0 159266 0 159266 0 Ms Mary K Carrasco 164340 0 0 0 3600 0 15295 0 40308 0 223543 0 190793 0 MR STEPHEN BLAKE 126817 0 0 0 12495 0 11861 0 399888 0 551061 0 191061 0 MR WILLIAM MCCCLINTICK 94278 0 0 0 10550 0 8467 0 37135 0 150430 0 150430 0 QUESTIONS REGARDING COMPENSATION SCHEDULE J, PART I, LINE 1A & 4b T. Douglas Hale is provided a residence for personal use per the terms of his contract and is also a participant in a supplemental non-qualified retirement plan. MERCERSBURG BOROUGH GENERAL PURPOSE AUTHORITY 236002995 2009-12-18 30000000 REFUND 2000A&B BOND issues false false MERCERSBURG BOROUGH GENERAL PURPOSE AUTHORITY 236002995 2010-02-17 19235000 REFUND 2005 Bond Issue false false 30000000 0 0 0 0 0 0 2000 true false true true 19235000 0 0 0 120000 0 0 2005 true false true true false false false false true 0.00000 0.00000 0.00000 true false true false false false false false true false false false false douglas T Hale employment incentive X 250000 50000 false true true 50000 KATHLEEN ANNE CARRASCO DAUGHTER OF KEY EMPLOYEE 44900 TUITION Eastern Alliance Insurance similar trustee/owner 58642 WORKERS' COMP INS. COVERAGE false X 2 0 X 650 cost X 35 161095 DATE OF GIFT VALUE X other 4 1825 cost 0 false true true THIRD PARTIES USED TO SELL NONCASH CONTRIBUTIONS FORM 990, SCHEDULE M, LINE 32(B) MERCERSBURG ACADEMY UTILIZES THE SERVICES OF A THIRD PARTY STOCK BROKER IN ORDER TO LIQUIDATE ANY SECURITY CONTRIBUTIONS RECEIVED. SUPPLEMENTAL DISCLOSURES FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION A, LINE 11a INFORMATION RELATED TO MERCERSBURG ACADEMY'S FORM 990 IS GATHERED BY FINANCE STAFF AND PROVIDED TO PRICEWATERHOUSECOOPERS LLP FOR REVIEW AND RETURN PREPARATION. THE FINAL COPY OF THE FORM 990 WAS REVIEWED BY MERCERSBURG ACADEMY AND Provided to each board member for THEIR review PRIOR TO FILING. -------------------- CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C Officers, trustees, and ALL employees are required annually to prepare a "Conflict of Interest Policy Questionnaire" disclosing businesses, activites, and/or relationships that may give rise to conflicts. COMPLETED QUESTIONNAIRES are reviewed by management. -------------------- COMPENSATION REVIEW AND APPROVAL FORM 990, PART VI, SECTION B, LINE 15 The officers of MERCERSBURG ACADEMY'S Board deliberate on, review, and approve the salary of the Head of School. These Board officers have full comparability data AVAILABLE from both ABOPS and NAIS to aid in such Deliberations. The results of the deliberationS, review, and salary approval process are then shared with the entire Board when the Head of School undergoes another review by the full Board at the May meetings. The completion of that deliberation, review, and approval process is recorded in the minutes of the May Board meetings. The officers of MERCERSBURG ACADEMY'S Board discuss, review, and approve the recommendation from the Head of School concerning the salaries of the top four highest paid employees of the school, not including the Head of School. These Board officers also have full comparability data available from both ABOPS and NAIS to aid in their deliberations. -------------------- GOVERNANCE, MANAGEMENT AND DISCLOSURE FORM 990, PART VI, SECTIONC, LINE 19 MERCERSBURG ACADEMY'S FORMS 1023 AND 990, GOVERNING DOCUMENTS, AUDITED FINANCIAL STATEMENTS, AND CONFLICTS OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST.