2011-01-14T13:53:27-06:00 2010-05-31 Cherry Bekaert & Holland LLP 1029 Greene Street Augusta GA 30901 990 2009-06-01 580625584 WOODWARD ACADEMY Inc WOOD 4047654023 1662 RUGBY AVENUE COLLEGE PARK GA 303372199 BARBARA EGAN 4047654023 2011-01-12 1 7067243557 2011-01-12 2009 2016-02-24 21:20:13Z ms barbara egan 1662 rugby avenue COLLEGE PARK GA 30337 102046020 0 X www.woodward.edu X 1900 GA WOODWARD ACADEMY PROVIDES COLLEGE PREPARATORY EDUCATION FOR STUDENTS IN Pre-k THROUGH GRADE 12 28 26 849 0 43635 -1235 3920750 3323206 53533335 52787963 -3943400 2106091 78249 85873 53588934 58303133 0 0 37992236 37955076 0 1587945 22073687 21766123 60065923 59721199 -6476989 -1418066 241477284 241833895 120546079 114829967 120931205 127003928 Woodward Academy combines the proud traditions of Atlanta's oldest college-preparatory school with an innovative, challenging and well-rounded educational experience. In a broadly diverse and caring community, Woodward embraces the uniqueness of each individual. Guided by our core values of Excellence, Character and Opportunity, we champion student success. 0 0 52979525 52886898 PROVIDED COLLEGE PREPARATORY EDUCATION FOR STUDENTS IN PRESCHOOL THROUGH GRADE TWELVE (APPROXIMATELY 2,800 STUDENTS) 52979525 1 1 0 0 0 1 0 0 1 1 1 1 1 0 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 1 0 1 1 1 1 0 0 0 0 1 0 0 0 1 156 0 1 849 1 1 1 0 0 0 0 0 0 0 0 0 0 28 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 GA X sarah cavender 4047654023 1662 RUGBY AVENUE college park GA 303372119 MR BEN F JOHNSON III 2.00 X 0 0 0 MR J RUSSELL WELCH 2.00 X 0 0 0 MS MADELYN ADAMS 1.00 X 0 0 0 MR ROBERT E BOWERS 1.00 X 0 0 0 MR ROBERT L BRAND JR 1.00 X 0 0 0 MR RONALD M BRILL 1.00 X 0 0 0 MRS THALIA CARLOS 1.00 X 0 0 0 MR CLARENCE DAVIS 1.00 X 0 0 0 MR ADAIR DICKERSON 1.00 X 0 0 0 MRS KITTY DUKEHART 1.00 X 0 0 0 DR XAVIER A DURALDE 1.00 X 0 0 0 DR NANCY GALLUPS 1.00 X 0 0 0 MR STEPHEN R HENNESSY 1.00 X 0 0 0 DR JAMES F JONES JR 1.00 X 0 0 0 MRS TERRI J KIGHT 1.00 X 0 0 0 MR IAN LLOYD-JONES 1.00 X 0 0 0 DR ANTHONY A MALIZIA 1.00 X 0 0 0 MR GENE W MILNER JR 1.00 X 0 0 0 MR GEORGE S MORGAN SR 1.00 X 0 0 0 MRS MARIE L NYGREN 1.00 X 0 0 0 MR TIM A O'BRIEN 1.00 X 0 0 0 MRS VICKI R PALMER 1.00 X 0 0 0 MR JOHN D RANDOLPH 1.00 X 0 0 0 MRS PAULA REYNOLDS 1.00 X 0 0 0 MR STEPHEN E ROBERTS 1.00 X 0 0 0 MR MITESH SHAH 1.00 X 0 0 0 MR SHI SHAILENDRA 1.00 X 0 0 0 MR JAMES E SUTHERLAND 1.00 X 0 0 0 MS BARBARA EGAN 40.00 X 253449 0 45775 DR f stuart gulley 40.00 X 256111 0 24002 MR DAVID R MCcOLLUM 40.00 X 262843 0 96715 mr ROBERT HAWKS 40.00 X 221431 0 41544 mr RUSSELL SLIDER 40.00 X 174993 0 57506 mr EDWIN NOTESTINE 40.00 X 138067 0 15635 mr DAVID CHANDLER 40.00 X 135148 0 27059 MR WILLIAM LINEBERRY 40.00 X 136049 0 27322 MR WALLACE L VINCENT 40.00 X 123043 0 32812 MS KELLY SANDERSON 40.00 X 123177 0 14590 GARY JONES X 0 0 0 WILLIAM R BREWSTER X 0 0 0 DON WOLFF X 0 0 0 JAMES CHANDLER X 0 0 0 A THOMAS JACKSON X 0 0 0 1824311 0 382960 23 0 1 0 DUNN SOUTHEASTDBA RJ GRIFFIN & CO 800 MOUNT VERNON Hwy ATlanta GA 30328 GENERAL CONTRACTOR 13695086 the ray landers co inc 482 hannah road newnan GA 30263 landscaping 730391 perkins & will 1382 peachTREE street ne atlanta GA 30309 architects 365385 MARTIN ELECTRICAL SERVCIES Inc 376 JONES ROAD HAMPTON GA 30228 ELECTRICAL SERVICES 276793 ALSTON & BIRD LLP 1201 WEST PEACHTREE STREET ATLANTA GA 30309 ATTORNEYS 246313 10 3323206 118028 3323206 TUITION AND FEES 900099 51807726 51807726 AUXILiary ACTIVITIES 900099 980237 980237 52787963 2378877 2378877 69404 126101 -56697 -56697 -56697 43344000 43616786 -272786 -272786 -272786 MISC INCOME 900099 98935 98935 MISC INCOME (UBI) 531390 43635 43635 142570 58303133 52886898 43635 2049394 1240078 1004838 235240 29561859 27210631 1702311 648917 1251080 1144321 80069 26690 3644633 3297997 262391 84245 2257426 1993853 198683 64890 47922 47922 42000 42000 97114 97114 897801 895333 2468 736346 736346 1402753 1402753 37936 37936 5569673 5569673 4320880 4320880 296779 296779 EDUCATIONAL PROGRAM EXP 3146183 3146183 EQUIPMENT RENTAL & MAIN 1893515 1893515 DINING EXPENSES 1355010 1355010 other fundraising expen 525495 525495 ATHLETIC PROGRAMS EXPEN 446428 446428 950288 461935 488353 59721199 52979525 5153729 1587945 28108178 18194511 4719973 3926476 1339395 1696711 200000 121284 82978 32294 41443 157471271 39119553 114818306 118351718 74237107 81863552 13994747 15765896 4106000 1710610 241477284 241833895 7451182 6496176 8764012 8997216 96600000 93200000 7730885 6136575 120546079 114829967 X 106853026 112256636 4767877 4665572 9310302 10081720 120931205 127003928 241477284 241833895 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 3 1.16 3 0 0 1 1 220.00 10000 0 9929094 732205 115338 10776637 9824783 382926 -278615 9929094 0.10000 0.90000 0.00000 0 0 870000 11254329 12124329 133558315 30848142 102710173 11752127 8271411 3480716 36500 36500 118351718 CASH SURRENDER LIFE INSURANCE 221306 F SHORT TERM INVESTMENTS 26116 F ASSETS HELD IN TRUST 384338 F KING STREET CAPITAL - CLASS S SERIES 4 (24.78 SHS) 672 F KING STREET CAPITAL - CLASS S SERIES 5(92.14 SHS) 6242 F kING STREET CAPITAL - CLASS S SERIES 7 (8.99 SHS) 411 F kING STREET CAPITAL - CLASS a SERIES 3 (345.81 SHS) 43683 F KING STREET CAPITAL - CLASS S SERIES 9 (178.85 SHS) 18831 F KING STREET CAPITAL - CLASS S SERIES 16 (211.17 SHS) 26045 F KING STREET CAPITAL - CLASS S SERIES 18 (91.04 SHS) 9159 F KING STREET CAPITAL - CLASS S SERIES 13 (105.85 SHS) 6761 F KING STREET CAPITAL - CLASS A SERIES 1 (7013.66 SHS) 3318157 F LIGHTHOUSE DIVERSIFIED - CLASS A SHARES (3922.72 SHS) 6153780 F bAY RESOURCE - CLASS d SHARES (598.30 SHS) 4312443 F hBK OFFSHORE - CLASS C SHARES (0 SH) 21786 F MONEY MARKET FUNDS - CD 64632 F king street CAPITAL - CLASS s SERIES 20 (121.12 SHS) 12047 F kING STREET CAPITAL - CLASS s SERIES 22 (14.54 SHS) 1448 F kING STREET CAPITAL - CLASS s SERIES 24 (377.60 SHS) 36354 F kING STREET CAPITAL - CLASS s SERIES 14 (348.42 SHS) 40930 F brevon howard ASIA FUND ( 1 sh) 1009242 F LIGHTHOUSE DIVERSIFIED ( 41.32 SHS) 51513 F 15765896 LIABILITIES DUE TO BENEFICIARIES 91531 due to other funds 477989 asset retirement obligation 180253 SWAP INTEREST AGREEMENTS 5386802 6136575 58303133 59721199 -1418066 7490789 7490789 6072723 68681366 7490789 2887444 10378233 58303133 0 58303133 62836685 3115486 3115486 59721199 0 59721199 Part II, Line 3: Explanation of Changes to Conservation Easements: LINE 9: THERE IS NO SPECIAL ACCOUNTING FOR THE SCHOOL'S CONSERVATION EASEMENTS. TWO HISTORICAL STRUCTURES ARE USED IN THE NORMAL OPERATIONS OF THE SCHOOL AS OFFICES. THE THIRD STRUCTURE IS THE CEREMONIAL FRONT GATE OF THE SCHOOL. THE MONITORING, INSPECTING AND ENFORCING OF EASEMENTS IS PART OF THE NORMAL HOUSEKEEPING AND MAINTENANCE ACTIVITIES OF THE SCHOOL'S FACILITIES DEPARTMENT. THE HISTORICAL CHARACTER OF THE STRUCTURES ARE MAINTAINED WHEN REPAIRS AND MAINTENANCE ARE MADE. THERE IS AN ENDOWED FUND FOR THE MAINTENANCE OF ONE OF THE BUILDINGS. AN AMOUNT EQUAL TO 4% OF THE MARKET VALUE OF THE FUND IS UTILIZED EACH YEAR TO PARTIALLY OFFSET THE COSTS OF MAINTAINING THIS BUILDING. Part V, Line 4: Description of Intended Use of Endowment Funds: THE SCHOOL'S ENDOWMENT FUNDS ARE INTENDED FOR USE IN PROVIDING FINANCIAL AID TO WOODWARD ACADEMY STUDENTS, AWARDS TO OUTSTANDING WOODWARD ACADEMY STUDENTS, FUNDS FOR CURRICULUM ENRICHMENT AND ENHANCEMENT IN FACULTY SALARIES AND MAINTENANCE OF THE ALUMNI CENTER. Part X: Description of Uncertain Tax Positions Under FIN 48: THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR FEDERAL INCOME TAXES HAS BEEN MADE. MANAGEMENT HAS EVALUATED THE EFFECT OF THE GUIDANCE PROVIDED BY U.S GENERALLY ACCEPTED ACCOUNTING PRINCIPLES ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES THAT BECAME EFFECTIVE THIS YEAR. MANGEMENT BELIEVES THAT THE ORGANIZATION CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AT MAY 31, 2010. MANAGEMENT HAS EVALUATED ALL OTHER TAX POSITIONS THAT COULD HAVE A SIGNIFICANT AFFECT ON THE FINANCIAL STATEMENTS AND DETERMINED THE ORGANIZATION HAD NO UNCERTAIN INCOME TAX POSITIONS AT MAY 31, 2010. Part XII, Line 2d - Other Adjustments: revenue reported on student transport inc 58-1806042: 2887444. Part XIII, Line 2d - Other Adjustments: expense reported on student transport inc 58-1806042: 3115486. 1 1 1 THE APPLICATION FOR ADMISSION AND ALL THE SCHOOL'S ADVERTISING TO SOLICIT POTENTIAL STUDENTS STATES THAT THE SCHOOL HAS A NONDISCRIMINATORY POLICY OF ADMISSION. THE SCHOOL'S ADMISSIONS WEBSITE STATES THAT SCHOOL HAS A NONDISCRIMINATORY POLICY. 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES 0 0 0 X sub-SAHARAN AFRICA Science lab, 2 classrooms, faculty housing and water system 73977 wIRE TRANSFER 0 Salaries of School employees paid during trip to Terranova Salary rates X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 MS BARBARA EGAN 253449 0 0 0 0 0 37479 0 8296 0 299224 0 0 0 DR f stuart gulley 256111 0 0 0 0 0 16562 0 7440 0 280113 0 0 0 MR DAVID R MCcOLLUM 262843 0 0 0 0 0 65551 0 31164 0 359558 0 0 0 mr ROBERT HAWKS 221431 0 0 0 0 0 33809 0 7735 0 262975 0 0 0 mr RUSSELL SLIDER 174993 0 0 0 0 0 49850 0 7656 0 232499 0 0 0 mr EDWIN NOTESTINE 138067 0 0 0 0 0 8566 0 7069 0 153702 0 0 0 mr DAVID CHANDLER 135148 0 0 0 0 0 7990 0 19069 0 162207 0 0 0 MR WILLIAM LINEBERRY 136049 0 0 0 0 0 8450 0 18872 0 163371 0 0 0 MR WALLACE L VINCENT 123043 0 0 0 0 0 4313 0 28499 0 155855 0 0 0 dEVELopment AUTHORITY OF FULTON COUNTY 581506878 359900ZG5 1997-12-10 17000000 cONSTRUCT new LOWER SCHOOL CAMPUS 0 0 dEVELopment AUTHORITY OF FULTON COUNTY 581506878 359900ZR1 2002-10-24 27000000 CONSTRUCT & RENOVATE MIDDLE SCHOOL CLASSROOMS & ARTS FACILITY-NORTH CAMPUS 0 0 dEVELopment AUTHORITY OF FULTON COUNTY 581506878 359900ZK6 2006-08-10 11000000 CONSTRUCT NEW PRIMARY SCHOOL CAMPUS 0 0 dEVELopment AUTHORITY OF FULTON COUNTY 581506878 359900ZH3 2008-06-10 32000000 CONSTRUCT & RENOVATe ATHLETIC FACILITIES & SUPPORT SPACES 0 0 dEVELopment AUTHORITY OF FULTON COUNTY 581506878 359900ZJ9 2007-08-23 13000000 CONSTRUCT & RENOVATe UPPER SCHOOL CLASSROOM FACILITIES 0 0 17900106 173603 17726503 1999 0 0 1 1 27312631 287000 27025631 2004 0 0 1 1 11262133 184984 11077149 2007 0 0 1 1 32414132 489466 193276 31731390 2009 0 0 0 1 13252860 317731 12935129 2008 0 0 1 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 1 1 0 0 0 1 1 1 0 0 0 1 1 1 0 0 0 1 0 1 0 0 1 1 1 1 0 0 0 1 dr F Stuart Gulley X 200000 200000 0 1 1 200000 MR BEN JOHNSON CHAIRMAN OF BOARD 122807 FORMER PARTNER AT ALSTON AND BIRD - ALSTON AND BIRD advises WOODWARD ACADEMY regarding LEGAL AFFAIRS. 0 MR JAMES SUTHERLAND board member 943963 OWNER OF SUTHERLAND FOODS - WOODWARD ACADEMY PURCHASES FOOD FOR DINING SERVICES FROM SUTHERLAND FOODS. 0 mr BEN JOHNSON cHAIRMAN OF BOARD 169622 director of invesco. Atlantic trust, a subsidiary of invesco, provides investment management services to the school 0 MR KENNETH HOPKINS SON-IN-LAW OF MR. SUTHERLAND (board member) 145090 OWNER OF TROPIC DESIGNS, INC.- TROPIC DESIGNS PROVIDES TURF MANAGEMENT SERVICES FOR WOODWARD ACADEMY ATHLETIC FIELDS. 0 X 21 118028 MARKET SALES PRICE 0 0 1 0 Form 990, Part VI, Section B, line 11 AUDIT COMMITTEE AND THE FINANCE AND EXECUTIVE COMMITTEE REVIEW AND APPROVE THE FORM 990. an electronic copy of the form 990 is sent to all board members. Form 990, Part VI, Section B, line 12c EACH YEAR BOARD MEMBERS, OFFICERS AND KEY EMPLOYEES COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE AND CERTIFY THAT THEY HAVE READ AND ARE IN COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. BOARD MEMBERS WHO HAVE A POTENTIAL CONFLICT OF INTEREST ABSTAIN FROM VOTING ON ISSUES INVOLVING THE CONFLICT OF INTEREST. Form 990, Part VI, Section B, line 15 THE VP FOR FINANCE AND ADMINISTRATION RESEARCHES COMPARABLE COMPENSATION DATA AND PROVIDES THE INFORMATION TO THE PRESIDENT AND THE COMPENSATION COMMITTEE. COMPARABLE DATA FROM THE FOLLOWING GROUPS ARE USED: ALL MEMBER SCHOOLS OF THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS (NAIS), ALL NON-MEMBER SCHOOLS THAT REPORT TO NAIS, ALL GEORGIA INDEPENDENT SCHOOLS, AND THE 30 LARGEST INDEPENDENT SCHOOLS IN THE U.S. IN DETERMINING COMPENSATION, SOME OF THE FACTORS CONSIDERED INCLUDE THE EXPERIENCE OF THE EMPLOYEE AND THE SIZE AND COMPLEXITY OF THE SCHOOL IN RELATION TO THE SCHOOLS IN THE COMPARISON DATA. THE COMPENSATION COMMITTEE APPROVES AND DOCUMENTS THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES AND ALL OFFICERS AND KEY EMPLOYEES RECEIVE ANNUAL WRITTEN CONTRACTS. Form 990, Part VI, Section C, line 18 THE SCHOOL'S FORM 1023, 990 AND 990T ARE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part VI, Section C, line 19 THE SCHOOL'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. PAGE 12, SECTION XI, LINE 2C AUDITED FINANCIAL STATEMENTS THE AUDIT COMMITTEE OF THE BOARD OF GOVERNORS IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT PROCESS AND THE SELECTION OF INDEPENDENT AUDITORS. SCHEDULE F, ASSISTANCE TO ORGANIZATIONS OUTSIDE THE U.S. - terranova school Each year the Middle School students of Woodward Academy raise money to send to a school in Zambia called the Terranova School. This is a private school located on a coffee farm and operated for the benefit of the farm's workers and others in the area. Students pay a nominal fee of $8 per term to attend. The coffee farm pays the teachers. Past fund raising efforts have paid for teaching materials, building a library and furnishing it with books, purchasing and installing computers, computer supplies, and building an infirmary. This year the fund raising efforts were for a science lab, classrooms, faculty housing and a water system. Each year several employees of Woodward Academy travel to Terranova to visit the students and observe the progress of Woodward sponsored projects. FORM 990, PART V, LINES 1C, 7G & 7H BACKUP WITHHOLDING, FORMS 8899 AND 1098-C THE ORGANIZATION DID NOT RECEIVE CONTRIBUTIONS OF QUALIFIED INTELLECTUAL PROPERTY AND WAS THEREFORE NOT REQUIRED TO FILE FORM 8899. LIKEWISE, THERE WERE NO CONTRIBUTIONS OF CARS, BOATS, AIRPLANES, OR OTHER VEHICLES, AND FORM 1098-C WAS NOT REQUIRED. THE ORGANIZATION DID NOT HAVE ANY REPORTABLE PAYMENTS TO VENDORS OR REPORTABLE GAMING (GAMBLING) WINNINGS TO PRIZE WINNERS AND THEREFORE, THE BACKUP WITHHOLDING RULES DID NOT APPLY. STUDENT TRANSPORT INC 2836 RN MARTIN STREET EAST POINT GA 30344 581806042 BUS TRANSPORTATION OF WOODWARD ACADEMY STUDENTS GA 501(C)(3) 509(A)(1), TYPE 1 WOODWARD ACADEMY 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 STUDENT TRANSPORT INC D 887436 STUDENT TRANSPORT INC L 820000