2024-05-14T15:25:51-05:00 2023-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 200 SOUTH 10TH ST STE 900 RICHMOND VA 23219 990 2022-07-01 540528203 THE COLLEGIATE SCHOOL COLL 8047407077 103 NORTH MOORELAND ROAD RICHMOND VA 23229 PHYLLIS PALMIERO CFO & COO 8047419799 2024-05-14 1 PHYLLIS PALMIERO XXX-XX-XXXX 0 AMY DOSIK P00890743 8046735700 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z PHYLLIS PALMIERO 103 NORTH MOORELAND ROAD RICHMOND VA 23229 76930286 0 X WWW.COLLEGIATE-VA.ORG X 1915 VA SEE SCHEDULE O TO CREATE A DIVERSE AND INCLUSIVE COMMUNITY OF LEARNERS COMMITTED TO A CHALLENGING AND SUPPORTIVE EDUCATIONAL EXPERIENCE THAT WILL FOSTER THE INTELLECTUAL, MORAL, EMOTIONAL, AND PHYSICAL DEVELOPMENT OF EACH STUDENT. 24 23 720 900 292921 23539 2705234 10848641 48977102 50992310 4554732 2301518 224311 506598 56461379 64649067 4317020 4515396 0 0 36925155 37046816 0 0 1944708 15100049 16643388 56342224 58205600 119155 6443467 167036679 170914242 38702884 35923532 128333795 134990710 X TO CREATE A DIVERSE AND INCLUSIVE COMMUNITY OF LEARNERS COMMITTED TO A CHALLENGING AND SUPPORTIVE EDUCATIONAL EXPERIENCE THAT WILL FOSTER THE INTELLECTUAL, MORAL, EMOTIONAL, AND PHYSICAL DEVELOPMENT OF EACH STUDENT. 0 0 46623354 4515396 46372798 INSTRUCTIONAL COLLEGIATE SCHOOL PROVIDED JUNIOR KINDERGARTEN THROUGH TWELFTH GRADE EDUCATION TO 1,684 STUDENTS. COLLEGIATE OPERATES TWO CAMPUSES: THE 55-ACRE MAIN ACADEMIC CAMPUS, LOCATED IN WESTERN HENRICO COUNTY, AND THE ROBINS CAMPUS, A 180-ACRE ATHLETIC CAMPUS, LOCATED IN EASTERN GOOCHLAND COUNTY. THE MAIN CAMPUS COMPRISES THE LOWER SCHOOL, MIDDLE SCHOOL AND UPPER SCHOOL AND IS ALSO HOME TO THE HERSHEY CENTER FOR THE ARTS, GROVER JONES ATHLETIC FIELD, THE SHARP ACADEMIC COMMONS AND THREE LIBRARIES. PROGRAM DESCRIPTION CONTINUED ON SCHEDULE O. 2984156 3357746 AUXILIARIES - THE SCHOOL OPERATES, FOR THE BENEFIT AND CONVENIENCE OF PARENTS, STUDENTS, AND ALUMNI, SEVERAL AUXILIARY SERVICES INCLUDING FOOD SERVICE (CAFETERIAS), A CAMPUS BOOKSTORE, AFTER SCHOOL PROGRAMS, AND PRIVATE MUSIC INSTRUCTION, AMONG OTHERS. 1220484 1450426 PUBLIC SERVICE - THE SCHOOL OFFERS A SUMMER ECONOMICS INSTITUTE, SUMMER PROGRAMS, AND SEVERAL YOUTH SPORTS PROGRAMS TO THE GREATER RICHMOND COMMUNITY. 50827994 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 0 1 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 1 120 1 1 720 1 1 1 0 0 0 0 1 1 0 0 0 0 1 0 X 24 23 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X PHYLLIS PALMIERO CFO & COO 8047419799 103 NORTH MOORELAND ROAD RICHMOND VA 23229 PENNY EVINS PRESIDENT/HEAD OF SCHOOL TO 7/31/22 40.00 X X 1404470 0 48950 WILLIAM S PEEBLES IV INTERIM HEAD OF SCHOOL FROM 8/1/22 40.00 X X 266193 0 876 PHYLLIS PALMIERO CFO & COO 40.00 X 274067 0 57271 DEBORAH CLABO ASSISTANT SECRETARY 40.00 X 72050 0 17729 COURTNEY MARTIN ASSISTANT HEAD OF SCHOOL 40.00 X 174351 0 24045 KRISTEN O WILLIAMS CHIEF DEVELOPMENT OFFICER 40.00 X 163465 0 65967 PATRICK E LOACH HEAD OF UPPER SCHOOL 40.00 X 159024 0 66776 TUNG TRINH HEAD OF MIDDLE SCHOOL 40.00 X 157589 0 51518 DEBORAH MILLER HEAD OF LOWER SCHOOL 40.00 X 142648 0 26727 CARTER M REID CHAIR OF THE BOARD 2.00 X X 0 0 0 W HILDEBRANDT SURGNER JR VICE CHAIR OF THE BOARD 2.00 X X 0 0 0 JOHN W MARTIN IMMEDIATE PAST CHAIR OF THE BOARD 2.00 X X 0 0 0 NEELAN A MARKEL SECRETARY 2.00 X X 0 0 0 ELLEN T BONBRIGHT TRUSTEE 2.00 X 0 0 0 CALLIE LACY BRACKETT TRUSTEE 2.00 X 0 0 0 MAYME BETH F DONOHUE TRUSTEE 2.00 X 0 0 0 MASON T CHAPMAN TRUSTEE 2.00 X 0 0 0 MEERA PAHUJA TRUSTEE 2.00 X 0 0 0 EUCHARIA N JACKSON TRUSTEE 2.00 X 0 0 0 J CHEAIRS PORTER JR TRUSTEE 2.00 X 0 0 0 JOHN H RIVERS JR TRUSTEE 2.00 X 0 0 0 PETER E MAHONEY SR TRUSTEE 2.00 X 0 0 0 MALCOLM S MCDONALD LIFE TRUSTEE 2.00 X 0 0 0 MORENIKE K MILES TRUSTEE 2.00 X 0 0 0 JULIOUS P SMITH III TRUSTEE 2.00 X 0 0 0 KENNETH P RUSCIO TRUSTEE 2.00 X 0 0 0 DANIELLE D SCOTT TRUSTEE 2.00 X 0 0 0 L MARK STEPANIAN TRUSTEE 2.00 X 0 0 0 WALLACE STETTINIUS LIFE TRUSTEE 2.00 X 0 0 0 R GREGORY WILLIAMS LIFE TRUSTEE 2.00 X 0 0 0 2813857 0 359859 24 0 1 0 ALADDIN FOOD MANAGEMENT SERVICES LLC 16567 COLLECTIONS CENTER DR CHICAGO IL 60693 FOOD SERVICE 1771898 ABM INDUSTRY GROUPS LLC PO BOX 643823 PITTSBURGH PA 15264 CLEANING SERVICE 612016 BAKER AND HAZLEWOOD MECHANICAL CONTRACTO 320 LORDLEY LN RICHMOND VA 23224 MECHANICAL CONTRACTING SERVICES 592976 F G PRUITT INC 2415 GRENOBLE RD HENRICO VA 23294 CONCRETE REPAIR 335624 CHERRY BEKAERT LLP PO BOX 25549 RICHMOND VA 23260 ACCOUNTING SERVICES 225250 13 176700 7822146 2849795 589500 10848641 TUITION & FEES 611600 45438922 45438922 FOOD SERVICE 611600 1662105 1662105 SUMMER PROGRAMS 611600 1330945 1330945 CHILD CARE 611600 1159838 1159838 PRIVATE MUSIC LESSONS 611600 347142 347142 1053358 1053358 50992310 655450 292921 362529 67340 74176 -6836 -6836 -6836 13150833 11496372 8393 1654461 -8393 1646068 1646068 558343 176700 248121 310222 310222 21756 7204 14552 14552 635613 446953 188660 188660 64649067 51180970 292921 2326535 4515396 4515396 2054984 541567 971850 541567 25021933 22898533 1694414 428986 1917632 1702816 158606 56210 6109558 5420962 456171 232425 1942709 1698869 174353 69487 139249 3672 135577 236536 174567 61969 144565 144565 4365807 3752263 569069 44475 2888994 2205917 228732 454345 558791 487357 63997 7437 1178 1178 889713 861046 24045 4622 378570 307595 61870 9105 307701 279713 21703 6285 572235 551257 20191 787 5075984 4920020 129783 26181 360584 35606 324922 56 FIELD TRIP EXPENSE 226875 226875 DUES AND SUBSCRIPTIONS 180754 132122 44909 3723 315852 110663 146172 59017 58205600 50827994 5432898 1944708 1641025 1077029 18369204 4092139 2264236 1983818 260221 238961 61626 51549 763272 1035151 145081149 90091639 56863328 54989510 10581245 26139990 73143884 70461430 3088638 10844665 167036679 170914242 4812856 4056523 4149725 3930513 27173900 25653996 2566403 2282500 38702884 35923532 X 68688973 76065521 59644822 58925189 128333795 134990710 167036679 170914242 X 6443467 232337 -18889 X 0 1 X 1 0 X 2671169 3087805 9344811 2705234 10831578 28640597 2671169 3087805 9344811 2705234 10831578 28640597 1871110 26769487 1149905 1130314 454236 405810 429869 3570134 292921 292921 341837 341837 32845489 236759513 0.81500 0.74380 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 82574874 1044485 1626818 606451 3742196 80897530 88495653 573312 -3529456 564602 2400033 82574874 62964055 9223650 20765827 517585 3940294 88495653 64750553 1400548 1321347 500788 4007605 62964055 65190682 1406476 2557810 467790 3936625 64750553 0.33000 0.67000 0.00000 0 0 877900 3697128 4575028 92663807 48510595 44153212 15280112 12592567 2687545 32562202 28988477 3573725 54989510 PARTNERSHIPS 70297784 F PARTNERSHIPS 163646 C 70461430 RIGHT TO USE ASSET 1211520 CASH SURRENDER VALUE OF LIFE INSURANCE 62992 OTHER RECEIVABLES 9570153 10844665 ACCRUED POST RETIREMENT MEDICAL 1989562 ANNUITIES PAYABLE 82429 ACCRUED INTEREST PAYABLE 113419 FAS 143 LIABILITY 10017 LEASE LIABILITY 87073 2282500 X 60566739 232337 -4517685 -4285348 64852087 290737 -493757 -203020 64649067 53922763 662804 662804 53259959 290737 4654904 4945641 58205600 PART V, LINE 4: THE COLLEGIATE SCHOOL'S ENDOWMENT (THE ENDOWMENT) CONSISTS OF APPROXIMATELY 170 INDIVIDUAL ENDOWMENTS, OF WHICH 67% ARE TRUE ENDOWMENTS AND 33% ARE RESTRICTED AND BOARD-DESIGNATED QUASI-ENDOWMENTS. OF THE TRUE ENDOWMENTS, 58% REPRESENTS FUNDS RESTRICTED FOR FACULTY AND PROGRAM DEVELOPMENT, 29% REPRESENTS FUNDS RESTRICTED FOR FINANCIAL AID, AND 13% IS UNRESTRICTED. IT IS THE SCHOOL'S INTENTION THAT THESE FUNDS ARE TO BE USED TO SUPPORT THESE SPECIFIC PURPOSES IN PERPETUITY AND SPENDING IS LIMITED TO THE BOARD-APPROVED SPEND RATE OF 4%. IN ADDITION, THE SCHOOL'S ENDOWMENT CONTAINS AN UNRESTRICTED QUASI-ENDOWMENT FUND THAT ACCOUNTS FOR 31% OF THE TOTAL ENDOWMENT MARKET VALUE AT JUNE 30, 2023. THE QUASI-ENDOWMENT IS AVAILABLE TO BE USED AT THE DISCRETION OF THE BOARD, INCLUDING, AND WITHOUT LIMITATION, TO PAY CAPITAL IMPROVEMENT PROJECT COSTS AND DEBT SERVICE (BOTH CURRENT AND FUTURE) PAYMENTS. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MANAGEMENT HAS EVALUATED THE EFFECT OF THE GUIDANCE PROVIDED BY U.S. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT BELIEVES THAT THE SCHOOL CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AT JUNE 30, 2023. MANAGEMENT HAS EVALUATED ALL OTHER TAX POSITIONS THAT COULD HAVE A SIGNIFICANT EFFECT ON THE FINANCIAL STATEMENTS AND DETERMINED THE SCHOOL HAD NO UNCERTAIN INCOME TAX POSITIONS AT JUNE 30, 2023 AND 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH TUITION REVENUE ON FINANCIAL STATEMENTS -4,515,396. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -2,289. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -446,953. AGENCY FUND REVENUES 152,447. RENTAL EXPENSES -74,176. DIRECT FUNDRAISING EVENT EXPENSES -122,568. LOSS ON SALE OF STOCK -2,507. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 446,953. RENTAL EXPENSES 74,176. DIRECT FUNDRAISING EVENT EXPENSES 122,568. LOSS ON SALE OF STOCK 2,507. CHANGE IN BENEFIT PLAN OBLIGATION 16,600. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH TUITION REVENUE ON FINANCIAL STATEMENTS 4,515,396. AGENCY FUND EXPENSES 139,508. PART V, LINE 1B: ENDOWMENT CONTRIBUTIONS ARE COMPOSED OF CONTRIBUTIONS AND TRANSFERS. ENDOWMENT CONTRIBUTIONS TOTALED $649,615 FOR THE FISCAL YEAR. ENDOWMENT TRANSFERS TOTALED $394,870. OF THIS AMOUNT, $230,875 WAS TRANSFERRED INTO THE UNRESTRICTED QUASI-ENDOWMENTS, FOR WHICH THE BOARD MAY USE AT ITS DISCRETION. THE BOARD HAS CURRENTLY EARMARKED THE FUNDS TO SUPPORT, AMONG OTHER USES, DEBT SERVICE ON ITS BONDS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE FOLLOWING STATEMENT CAN BE FOUND ON THE HOME PAGE AND THE ADMISSION PAGE OF THE SCHOOL'S WEBSITE, THE FAMILY HANDBOOK AND ALL ADMISSIONS AND OTHER PRINTED MATERIALS: THE SCHOOL ADMITS QUALIFIED STUDENTS AND DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL OR ETHNIC ORIGIN, RELIGION, GENDER, SEXUAL ORIENTATION, MENTAL OR PHYSICAL DISABILITY, OR ANY OTHER STATUS PROTECTED BY APPLICABLE LAW IN THE ADMINISTRATION OF ITS ADMISSIONS, SCHOLARSHIPS, AND LOANS, AND ITS EDUCATIONAL, ATHLETIC, AND OTHER PROGRAMS. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES INTERNATIONAL STUDY 50651 NORTH AMERICA 0 0 PROGRAM SERVICES INTERNATIONAL STUDY 9897 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES ASSISTANCE 514 0 0 0 0 0 0 61062 0 61062 1 0 0 0 0 0 PART I, LINE 3: AMOUNT REPORTED FOR PROGRAM SERVICES WAS CALCULATED USING THE ACCRUAL METHOD OF ACCOUNTING. PART III ACCOUNTING METHOD: AUCTION 507912 172091 335821 12965 44443 8995 60446 VILLAGE GREEN FAIR 146589 4609 141980 8546 11573 14276 32003 10 80542 80542 54874 735043 176700 558343 21511 56016 23271 147323 248121 310222 4311 2320 1 1.00000 17445 4884 1 0.50000 21756 4884 2320 7204 14552 VA 0 GAMING ACTIVITY FALLS UNDER THRESHOLD FOR REQUIRED LICENSING IN COMMONWEALTH OF VIRGINIA 0 0 0 1.00000 PHYLLIS PALMIERO 103 N MOORELAND ROAD RICHMOND VA 23229 0 0 1 NEED-BASED FINANCIAL ASSISTANCE 270 4399996 FMV TUITION REDUCTION, FEES, BOOKS, AFTER SCHOOL REDUCTION MERIT-BASED SCHOLARSHIPS 9 115400 FMV TUITION REDUCTION PART I, LINE 2: THE SCHOOL PROVIDES NEED-BASED FINANCIAL ASSISTANCE TO FAMILIES WHO QUALIFY. FAMILIES REQUESTING FINANCIAL ASSISTANCE SUBMIT A PARENTS' FINANCIAL STATEMENT (PFS) ANNUALLY TO THE SCHOOL AND STUDENT SERVICES (SSS). THIS FORM REQUESTS INFORMATION SUCH AS INCOME, EXPENSES, ASSETS, FAMILY SIZE, AND NUMBER OF CHILDREN IN TUITION CHARGING SCHOOLS. IN ADDITION, FAMILIES SUBMIT SUPPORTING DOCUMENTS SUCH AS TAX RETURNS, W-2S AND 1099S. THE SSS EVALUATES THE FAMILY'S FINANCIAL NEED AND DETERMINES AN EXPECTED FAMILY CONTRIBUTION. THE FINANCIAL ASSISTANCE COMMITTEE REVIEWS THE PFS AND SUPPORTING DOCUMENTATION AND USES THE SSS EVALUATION AS A GUIDE IN DETERMINING A FAMILY'S NEED. THE FINANCIAL AID COMMITTEE MAKES THE FINAL AWARD DECISIONS AND APPLIES THE ASSISTANCE TOWARD THE TUITION FOR THAT SCHOOL YEAR. THE SCHOOL OFFERS MERIT SCHOLARSHIPS TO ADMITTED STUDENTS, WHO HAVE A DEMONSTRATED INTEREST AND OUTSTANDING ACHIEVEMENT IN THE AREAS OF ACADEMICS, ATHLETICS, FINE ARTS AND / OR LOCAL AND GLOBAL ENGAGEMENT. THE SCHOLARSHIPS ARE A FOUR-YEAR MERIT-BASED SCHOLARSHIP OF UP TO FIFTY PERCENT OF TUITION. STUDENTS MUST REMAIN IN GOOD ACADEMIC STANDING FOR THE SCHOLARSHIP TO RENEW IN YEARS TWO THROUGH FOUR. NINTH GRADE APPLICANTS ARE ELIGIBLE FOR THESE SCHOLARSHIPS. THE ADMISSION OFFICE AND UPPER SCHOOL ADMINISTRATION REVIEW ELIGIBLE APPLICANTS AND MAKE SELECTIONS BASED ON THE STATED CRITERIA. THESE SCHOLARSHIPS ARE APPLIED TO THE TUITION FOR THAT SCHOOL YEAR. X X X 1 1 X X X X X 1 1 0 0 0 0 0 0 0 PENNY EVINS PRESIDENT/HEAD OF SCHOOL TO 7/31/22 320094 0 1548 0 1082828 0 11496 0 37454 0 1453420 0 0 0 WILLIAM S PEEBLES IV INTERIM HEAD OF SCHOOL FROM 8/1/22 264519 0 0 0 1674 0 0 0 876 0 267069 0 0 0 PHYLLIS PALMIERO CFO & COO 269441 0 1548 0 3078 0 28181 0 29090 0 331338 0 0 0 COURTNEY MARTIN ASSISTANT HEAD OF SCHOOL 171742 0 1548 0 1061 0 12200 0 11845 0 198396 0 0 0 KRISTEN O WILLIAMS CHIEF DEVELOPMENT OFFICER 160434 0 1548 0 1483 0 11620 0 54347 0 229432 0 0 0 PATRICK E LOACH HEAD OF UPPER SCHOOL 155964 0 1548 0 1512 0 17144 0 49632 0 225800 0 0 0 TUNG TRINH HEAD OF MIDDLE SCHOOL 155328 0 1548 0 713 0 11234 0 40284 0 209107 0 0 0 DEBORAH MILLER HEAD OF LOWER SCHOOL 138545 0 1548 0 2555 0 14072 0 12655 0 169375 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL RECEIVES CERTAIN ADDITIONAL BENEFITS THAT ARE TYPICAL COMPONENTS OF AN EXECUTIVE LEVEL COMPENSATION PACKAGE AMONG INDEPENDENT SCHOOLS. THESE BENEFITS PRIMARILY INCLUDE A HOUSING ALLOWANCE AND AN AMOUNT THAT REPRESENTS ADDITIONAL TUITION REMISSION AND INSURANCE WHICH ARE GROSSED UP TO PROVIDE FOR THE TAX LIABILITY ASSOCIATED WITH THEM. NATIONALLY AND LOCALLY, MANY HEADS OF SCHOOLS ARE PROVIDED A HOME ON CAMPUS, WHEN ONE EXISTS. WHEN ONE DOES NOT EXIST ON CAMPUS, AS IS THE CASE AT COLLEGIATE SCHOOL, IT IS CUSTOMARY TO PROVIDE A HOUSING ALLOWANCE TO THE HEAD OF SCHOOL. THE HOUSING ALLOWANCE IS A TAXABLE BENEFIT AND INCLUDED IN HIS/HER OTHER REPORTABLE COMPENSATION. COMPANION TRAVEL WAS ALSO PROVIDED TO THE HEAD OF SCHOOL THIS YEAR AND THE AMOUNT PAID WAS TREATED AS A TAXABLE BENEFIT. A HOUSING ALLOWANCE AND SPOUSAL TRAVEL ARE NOT PART OF THE INTERIM HEAD OF SCHOOL, WILLIAM PEEBLES' COMPENSATION PACKAGE. PART I, LINE 3 THE COMPENSATION COMMITTEE REVIEWS THE INDEX (INDEPENDENT DATA EXCHANGE) REPORT ON THE SALARIES AND TOTAL COMPENSATION FOR THE HEAD OF SCHOOL. THE INDEX BENCHMARKING GROUP CONSISTS OF A VARIETY OF JK-12 CO-EDUCATIONAL DAY SCHOOLS ACROSS THE NATION WITH SIMILAR MISSIONS AND SIZE TO COLLEGIATE SCHOOL. THE COMMITTEE ALSO REVIEWS ANY OTHER COMPARISONS THAT MAY BE AVAILABLE AT THAT TIME. IN ADDITION, THE COMPENSATION COMMITTEE ENGAGES PROFESSIONAL SERVICES TO ESTABLISH A REBUTTABLE PRESUMPTION OF REASONABLENESS FOR THE HEAD OF SCHOOL. PART I, LINES 4A-B LINE 4A: FORMER HEAD OF SCHOOL, PENNY EVINS, RECEIVED CASH AND IN-KIND PAYMENTS TOTALING $994,572 UPON HER DEPARTURE FROM THE SCHOOL. LINE 4B: THE FOLLOWING INDIVIDUALS PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: PENNY EVINS A ECONOMIC DEVELOPMENT AUTHORITY OF HENRICO COUNTY VIRGINIA 541197472 42605PDC6 2012-04-19 24183447 CAPITAL IMPROVEMENT 1 0 0 B ECONOMIC DEVELOPMENT AUTHORITY OF HENRICO COUNTY VIRGINIA 541197472 000000000 2021-03-29 11655000 REFINANCE BOND SERIES 2010 AND 2017B. 0 0 0 C ECONOMIC DEVELOPMENT AUTHORITY OF HENRICO COUNTY VIRGINIA 541197472 000000000 2022-04-15 12770000 REFINANCE TAXABLE BOND DATED 3/27/2014 0 0 0 A 20860000 24228100 433186 23794914 2013 0 0 1 1 B 1445000 11655000 92650 11562350 2018 1 0 1 1 C 50000 12770000 12770000 2018 0 1 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 0 1 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 A 1 B 1 C 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: ECONOMIC DEVELOPMENT AUTHORITY OF HENRICO COUNTY, VIRGINIA DATE THE REBATE COMPUTATION WAS PERFORMED: 03/27/2014 SCHEDULE K, PART II, LINE 3, COL (A): THE TOTAL PROCEEDS OF ISSUE DOES NOT EQUAL THE ISSUE PRICE IN PART I DUE TO INVESTMENT EARNINGS ON BOND PROCEEDS WHILE AWAITING EXPENDITURE. PENNY EVINS FORMER OFFICER 160000 CONSULTING SERVICES 0 X 181584 FAIR MARKET VALUE X 68 407916 MEAN VALUE 0 0 1 0 PART III, LINE 4A COMPLETED IN 2010, THE ROBINS CAMPUS COMPRISES SIX ATHLETIC-RELATED BUILDINGS, 12 ATHLETIC FIELDS, 13 TENNIS COURTS AND A TENNIS HOUSE; THE SAM NEWELL FIELD COMPLEX WITH BASEBALL FIELDS, DUGOUTS, CONCESSIONS/FILMING BUILDINGS, A CROSS COUNTRY COURSE, SOFTBALL FIELD, STRENGTH TRAINING ROOM, INDOOR TURF ROOM, TRAINER FACILITIES AND LOCKER ROOMS, AND AN OUTDOOR TURF FIELD FOR FIELD HOCKEY AND LACROSSE. COLLEGIATE HAS 78 ATHLETIC TEAMS AND 42 PERFORMING ARTS ENSEMBLES. IT ALSO IS HOME TO THE POWELL INSTITUTE FOR RESPONSIBLE CITIZENSHIP. THE PRINCIPLES OF THE INSTITUTE ARE ACTUALIZED THROUGH COLLABORATIONS WITH FACULTY AND INTEGRATION OF PROGRAMS IN JK-GRADE 12 THAT BUILD THE KNOWLEDGE, SKILLS, AND DISPOSITIONS NECESSARY FOR TODAY'S AND TOMORROW'S WORLD, THROUGH THE IDENTIFIED AREAS OF: GLOBAL ENGAGEMENT, INCLUSION, ECONOMIC LITERACY, ENTREPRENEURSHIP, SUSTAINABILITY AND CIVIC ENGAGEMENT. STUDENTS IN EACH DIVISION OF OUR SCHOOL EXEMPLIFY THEIR UNDERSTANDING OF AND GROWTH IN THE TENETS OF THESE AREAS BY PARTICIPATING IN A CULMINATING CAPSTONE PROGRAM. OUR 4TH GRADERS PARTICIPATE IN ENVISION COLLEGIATE, OUR 8TH GRADERS PARTICIPATE IN ENVISION RICHMOND AND OUR 12TH GRADERS PARTICIPATE IN ENVISION YOUR WORLD. HIGHLIGHTS FROM THE 142 SENIORS IN THE GRADUATING CLASS OF 2023 ARE AS FOLLOWS: - 85% OF THE CLASS REPORTED BEING ACCEPTED BY ONE OF THEIR TOP TWO COLLEGES - $8.1 MILLION IN MERIT SCHOLARSHIPS WERE EARNED INCLUDING THE PRESTIGIOUS JEFFERSON SCHOLARSHIP AT THE UNIVERSITY OF VIRGINIA AND THE STAMPS SCHOLARSHIP AT WAKE FOREST UNIVERSITY - EIGHT ARTISTS WILL PURSUE THEIR CRAFT IN HIGHLY SELECTIVE PROGRAMS IN DANCE, FILM, GRAPHIC COMMUNICATIONS, MEDIA ARTS, MUSIC, THEATER, AND THE VISUAL ARTS - 27 RECRUITED ATHLETES WILL COMPETE AT THE DIVISION I AND DIVISION III LEVELS IN 13 DIFFERENT SPORTS. THE INSTITUTIONS THAT SAW COUGARS APPLY, ADMITTED AND ENROLL DISPLAY WIDE-RANGING BREADTH, INCLUDING ARTS SCHOOLS, ENGINEERING SCHOOLS, HISTORICALLY BLACK COLLEGES AND UNIVERSITIES, LARGE RESEARCH UNIVERSITIES, SINGLE-SEX INSTITUTIONS AND SMALL LIBERAL ARTS COLLEGES. FORM 990, PART VI, SECTION B, LINE 11B TO PROTECT DONOR PRIVACY, THE SCHOOL DOES NOT PROVIDE SCHEDULE B TO THE BOARD OF TRUSTEES. HOWEVER, A FULL PUBLIC DISCLOSURE COPY OF THE FORM 990 IS PROVIDED TO THE BOARD AND HEAD OF SCHOOL FOR THEIR REVIEW BEFORE IT IS FILED. THE FORM 990 IS REVIEWED BY THE SCHOOL'S CHIEF FINANCIAL OFFICER/CHIEF OPERATING OFFICER AS WELL AS THE SCHOOL'S INDEPENDENT ACCOUNTING FIRM CHERRY BEKAERT. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR, ALL OFFICERS, TRUSTEES, AND KEY EMPLOYEES ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST STATEMENT, NOTING ANY RELATIONSHIPS AND/OR CONFLICTS THEY HAVE WITH COLLEGIATE SCHOOL. BY SIGNING, THEY ACKNOWLEDGE THAT THEY HAVE RECEIVED A COPY OF THE SCHOOL'S CODE OF BUSINESS ETHICS FOR TRUSTEES AND THE SCHOOL'S POLICY STATEMENT OF CONFLICTS OF INTEREST. THE STATEMENTS ARE KEPT ON FILE WITH BOTH THE BOARD ASSISTANT SECRETARY AND THE BUSINESS OFFICE AND ARE REFERRED TO THROUGHOUT THE YEAR AS NEEDED. THE FOLLOWING IS AN EXCERPT FROM COLLEGIATE SCHOOL'S BOARD OF TRUSTEES CONFLICT OF INTEREST POLICY: " TRUSTEES SHOULD CONDUCT THEMSELVES IN AN HONEST AND ETHICAL MANNER AND AVOID ANY ACTUAL OR APPARENT CONFLICT OF INTEREST. A CONFLICT OF INTEREST OCCURS WHEN A TRUSTEE (OR A FAMILY MEMBER) HAS A FINANCIAL OR OTHER PERSONAL INTEREST THAT MIGHT REASONABLY INTERFERE IN ANY WAY WITH THE INTERESTS OF THE SCHOOL, IMPROPERLY INFLUENCE THE TRUSTEE'S JUDGEMENT OR OTHERWISE MAKE IT DIFFICULT FOR THE TRUSTEE TO PERFORM HIS OR HER DUTIES TO THE SCHOOL OBJECTIVELY AND EFFECTIVELY. WHENEVER A CONFLICT OF INTEREST ARISES (WHETHER ACTUAL OR APPARENT), A TRUSTEE MUST FULLY INFORM THE BOARD OF THE CONFLICT AND RECUSE HIMSELF OR HERSELF FROM ANY BOARD AND COMITTEE DELIBERATIONS AND DECISIONS RELATING TO THE MATTER. TRUSTEES SHOULD ALSO ACT AT ALL TIMES IN ACCORDANCE WITH THE SCHOOL'S FORMAL, WRITTEN POLICY STATEMENT ON CONFLICTS OF INTEREST." FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, WHICH IS COMPRISED OF THE CURRENT AND PAST CHAIRS, THE VICE-CHAIR, AND TWO TRUSTEES AT LARGE APPOINTED BY THE CHAIR ARE CHARGED WITH REVIEWING THE PERFORMANCE AND ESTABLISHING COMPENSATION LEVELS FOR THE HEAD OF SCHOOL. THE PROCESS BEGINS WITH A SET OF ANNUAL GOALS DEVELOPED BY THE HEAD OF SCHOOL AND THE FULL BOARD. TO BEGIN THE PERFORMANCE REVIEW DISCUSSION, THE COMMITTEE SOLICITS FEEDBACK FROM THE BOARD ON HOW WELL THOSE GOALS HAVE BEEN MET. IN ADDITION, THE COMMITTEE REVIEWS THE SELF-APPRAISAL PREPARED BY THE HEAD OF SCHOOL. AS PART OF ITS COMPENSATION CONSIDERATIONS, THE COMMITTEE REVIEWS THE INDEX (INDEPENDENT DATA EXCHANGE) REPORT ON THE SALARIES AND TOTAL COMPENSATION FOR HEADS OF SCHOOLS. THE INDEX BENCHMARKING GROUP CONSISTS OF A VARIETY OF JK-12 CO-EDUCATIONAL DAY SCHOOLS ACROSS THE NATION WITH SIMILAR MISSIONS TO COLLEGIATE SCHOOL. THE COMMITTEE ALSO REVIEWS ANY OTHER COMPARISONS THAT MAY BE AVAILABLE AT THAT TIME. THE COMMITTEE'S PROCESS AND DECISIONS ARE COMMUNICATED TO THE CHIEF FINANCIAL OFFICER/CHIEF OPERATING OFFICER AND ARE DOCUMENTED IN THE COMMITTEE MINUTES. IN ADDITION, THE COMMITTEE WILL ENGAGE PROFESSIONAL SERVICES TO ESTABLISH A REBUTTABLE PRESUMPTION OF REASONABLENESS ON COMPENSATION FOR POSITIONS THAT EXERCISE STUBSTANTIAL INFLUENCE OVER THE SCHOOL'S AFFAIRS WITH RESPECT TO THE COMPENSATION OF OTHER KEY EMPLOYEES, THE SCHOOL USES LOCAL PUBLIC SCHOOLS, POSITION SPECIFIC MARKET AND NATIONAL BENCHMARKING DATA OF LIKE INDEPENDENT SCHOOLS, INCLUDING COMPENSATION SURVEYS. THE SALARIES ARE DETERMINED BASED ON THIS DATA, IN ADDITION TO JOB DUTIES AND RESPONSIBILITIES, EXPERTISE, AND THE MARKET FOR THOSE SKILLS AND EXPERTISE ARE COMPENSATION FACTORS AS WELL. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE GENERALLY NOT AVAILABLE TO THE PUBLIC, ALTHOUGH ITS ARTICLES OF INCORPORATION ARE PUBLICLY AVAILABLE THROUGH THE VIRGINIA STATE CORPORATION COMMISSION'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -2,289. CHANGE IN BENEFIT PLAN OBLIGATION -16,600.