2024-05-15T09:24:56-05:00 2023-06-30 420714325 RSM US LLP 919 EAST MAIN STREET SUITE 1800 RICHMOND VA 23219 990 2022-07-01 540506326 THE PROTESTANT EPISCOPAL HIGH SCHOOL IN VIRGINIA PROT 7039334092 1200 NORTH QUAKER LANE ALEXANDRIA VA 22302 WILLIAM H DE BUTTS III CFO 7039334092 2024-05-15 1 WILLIAM DE BUTTS III XXX-XX-XXXX 0 MEREDITH BELL P01696827 8042822121 2024-05-13 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z EPISCOPAL HIGH SCHOOL CHARLES M STILLWELL 1200 NORTH QUAKER LANE ALEXANDRIA VA 22302 103985286 0 X WWW.EPISCOPALHIGHSCHOOL.ORG X 1839 VA THE INSTITUTION'S PRIMARY EXEMPT PURPOSE IS TO PROVIDE EDUCATION TO HIGH SCHOOL STUDENTS. 25 25 319 50 16200 55123 11905553 10920925 29920394 30761869 8383727 6743220 236360 907175 50446034 49333189 7993034 7792990 0 0 21466859 22180291 0 0 5759254 22553987 24682038 52013880 54655319 -1567846 -5322130 584467906 583924812 89935318 80771037 494532588 503153775 X GUIDED BY ITS FOUNDING PRINCIPLES OF HONOR, ACADEMIC DISTINCTION, SPIRITUAL GROWTH, AND COMMUNITY, EPISCOPAL HIGH SCHOOL PREPARES YOUNG PEOPLE WITH THE INTELLECTUAL AND MORAL COURAGE TO PURSUE LIVES OF ETHICAL LEADERSHIP AND SERVICE AS CITIZENS OF AN INCREASINGLY CONNECTED WORLD. 0 0 40278078 7792990 30761869 THE PROTESTANT EPISCOPAL HIGH SCHOOL IN VIRGINIA, FOUNDED IN 1839, IS A CO-ED COLLEGE PREPARATORY, 100% BOARDING SCHOOL (440 STUDENTS IN GRADES 9-12) LOCATED ON A 135-ACRE CAMPUS IN THE CITY OF ALEXANDRIA, VIRGINIA, APPROXIMATELY SEVEN MILES FROM WASHINGTON, DC. EPISCOPAL IS DEDICATED TO THE STUDENT'S PURSUIT OF EXCELLENCE AND TO THE JOY OF LEARNING AND SELF-DISCOVERY IN A CARING AND SUPPORTIVE COMMUNITY. ENRICHED BY THE EDUCATIONAL AND CULTURAL RESOURCES OF THE NATION'S CAPITAL, EPISCOPAL'S DYNAMIC ACADEMIC PROGRAM ENCOURAGES STUDENTS TO DEVELOP INDIVIDUAL TALENTS AND PREPARES THEM TO ATTEND SELECTIVE COLLEGES AND UNIVERSITIES. STUDENTS FROM DIVERSE BACKGROUNDS LIVE AND LEARN TOGETHER IN A RESIDENTIAL COMMUNITY BASED ON A FOUNDATION OF HONOR, RESPONSIBILITY, AND MUTUAL RESPECT. THEY DEVELOP ENDURING RELATIONSHIPS AT EHS AND GROW AS DISCERNING, SELF-RELIANT, CREATIVE, COMPASSIONATE INDIVIDUALS. THE EPISCOPAL HIGH SCHOOL COMMUNITY PREPARES YOUNG PEOPLE TO LEAD PRINCIPLED AND FULFILLING LIVES OF LEADERSHIP AND SERVICE TO OTHERS. 40278078 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 65 0 1 319 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 X WILLIAM H DE BUTTS III CFO 7039334092 1200 NORTH QUAKER LANE ALEXANDRIA VA 22302 SARAH KNUTSON CHAIRMAN 1.00 X X 0 0 0 E JENNER WOOD III VICE-CHAIR 1.00 X X 0 0 0 LYNN ALEXANDER TRUSTEE 1.00 X 0 0 0 ZACK BACON TRUSTEE 1.00 X 0 0 0 JONATHAN S BEANE TRUSTEE 1.00 X 0 0 0 CEDRIC M BRIGHT TRUSTEE 1.00 X 0 0 0 GRETCHEN C BYRD TRUSTEE 1.00 X 0 0 0 MAX C CHAPMAN TRUSTEE 1.00 X 0 0 0 JEFF CLARKE TRUSTEE 1.00 X 0 0 0 ROBERT M COLLIE III TRUSTEE 1.00 X 0 0 0 AMANDA CORNELSON TRUSTEE 1.00 X 0 0 0 ELIZABETH W DAVIS TRUSTEE 1.00 X 0 0 0 CRAIG DIXON TRUSTEE 1.00 X 0 0 0 DAVID DOUGHERTY TRUSTEE 1.00 X 0 0 0 CARY L GOODWIN TRUSTEE 1.00 X 0 0 0 BILL HUGHES TRUSTEE 1.00 X 0 0 0 STEVEN C LILLY TRUSTEE 1.00 X 0 0 0 ALEX Y LIU TRUSTEE 1.00 X 0 0 0 N THOMPSON LONG TRUSTEE 1.00 X 0 0 0 RANSOM C LUMMIS TRUSTEE 1.00 X 0 0 0 LAUREN MARSHALL TRUSTEE 1.00 X 0 0 0 DR J JUERGEN TAYLOR TRUSTEE 1.00 X 0 0 0 LEAH KANNENSOHN TENNILLE TRUSTEE 1.00 X 0 0 0 HELEN GRASSI VEST TRUSTEE 1.00 X 0 0 0 JOHN R WICKHAM TRUSTEE 1.00 X 0 0 0 CHARLES STILLWELL PRESIDENT & HEAD OF SCHOOL 40.00 X 609723 0 199356 WILLIAM H DEBUTTS III SECRETARY/TREASURER/CFO 40.00 X 276999 0 107976 MARY K HUMPHRIES MEDICAL DIRECTOR 40.00 X 267467 0 68179 CHRISTINA HOLT ASST. HEAD FOR ADVANCEMENT 40.00 X 198984 0 112016 PHIL SPEARS ASSISTANT HEAD FOR STUDENT LIFE 40.00 X 183320 0 93426 STEFANIE SMITH GENERAL COUNSEL 40.00 X 155794 0 85039 LUCY GOLDSTEIN DEAN OF FACULTY 40.00 X 150653 0 74651 1842940 0 740643 24 0 1 0 EE REED CONSTRUCTION 3076 CENTERVILLE ROAD 210 HERNDON VA 20171 CONSTRUCTION 23311103 FLIK PO BOX 417632 BOSTON MA 022417632 FOOD SERVICE 2855037 SODEXO INC & AFFILIATES PO BOX 536922 ATLANTA GA 303536922 CUSTODIAL SERVICES 1083793 CAROLINA GREEN CORP 10108 INDIAN TRAIL FAIRVIEW RD INDIAN TRAIL NC 28079 ATHLETIC FIELD 604317 DLR GROUPBOWIE GRIDLEY 1010 WISCONSIN AVENUE NW 400 WASHINGTON DC 20007 ARCHITECT 501740 42 10920925 622531 10920925 TUITION AND FEES 900099 30309930 30309930 SUMMER PROGRAMS 900099 233347 233347 AUXILIARY FEES 900099 139120 139120 FOREIGN STUDY 900099 79472 79472 30761869 6923684 6923684 94138 0 94138 94138 94138 54078203 54258667 -180464 -180464 -180464 531018 393430 137588 137588 OTHER REVENUE 900099 659249 659249 TENNIS AND SWIM CLUB 713940 16200 16200 675449 49333189 30761869 16200 7634195 7792990 7792990 912046 665761 126629 119656 15402208 11092308 2225071 2084829 1338914 1079095 127442 132377 3372339 2717931 320989 333419 1154784 930696 109916 114172 232626 232626 118648 118648 925483 925483 1407534 882355 384226 140953 327799 71551 5619 250629 1224396 750706 323232 150458 3141865 2439864 312243 389758 634806 549139 85667 160489 122625 37364 500 1657300 1271044 183212 203044 6513678 4801003 945735 766940 428767 428767 FOOD SERVICE 2917632 2917632 CLASSROOM EXPENSES 555566 555566 ON-CAMPUS 467378 193034 274344 ATHLETICS 436746 436746 3531325 1201066 1617751 712508 54655319 40278078 8617987 5759254 8745307 5459786 25925824 4070658 22966594 19205637 524357 1090790 119514 119514 44020 75505 1054545 872024 256731643 95491267 149257162 161240376 32101374 45201759 134903638 139633979 208825571 206954784 584467906 583924812 11708360 3570928 3542886 3346085 74332613 73231013 351459 623011 89935318 80771037 X 142497857 148117818 352034731 355035957 494532588 503153775 584467906 583924812 X -5322130 15984206 -2040889 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 219786 4979473 X X X 0 161975060 2136199 24610013 3458290 5663870 0 179599112 191869720 10924771 -32177889 3108483 4075840 1457219 161975060 149704157 4814032 45844905 2832868 3638105 2022401 191869720 146453604 4355754 5644875 2638369 3438950 672757 149704157 142213738 2911433 7232433 2439216 3464784 146453604 0.29500 0.41700 0.28800 0 0 186120 186120 243911776 86645649 157266127 11660803 8845618 2815185 972944 972944 161240376 ART COLLECTIONS 4979473 C CASH SURRENDER VALUE OF LIFE INSURANCE -474276 F LONE CEDAR LTD 4786088 F LONE CASCADE, L.P. 12829599 F MAKENA CAPITAL ASSOCIATES, L.P 13778427 F HARBOUR VEST, L.P. 7504948 F MARSHALL WACE LLP 15432314 F CANYON CAPITAL ADVISORS 9526778 F FARALLON CAPITAL MANAGEMENT LLC 10786310 F KABOUTER MANAGEMENT LLC 4113496 F GQG PARTNERS 8440959 F SELECT EQUITY 8491392 F FARRALLON EQUITY 14183023 F TIGER GLOBAL PRIVATE XIV 3946205 F TIGER GLOBAL PRIVATE XV 1753316 F WHALE ROCK CAPITAL MANAGEMENT LLC 6629910 F RA CAPITAL MANAGEMENT LLC 11195279 F CASDIN CAPITAL LLC 1730738 F 139633979 PERPETUAL TRUSTS HELD BY THIRD PARTIES 198788231 ASSETS HELD IN CHARITABLE REMAINDER TRUSTS 7062319 INVESTMENT IN BUTTERFLY HOUSE 400000 RIGHT-OF-USE ASSETS, NET 688536 DUE FROM UNITRUSTS 15698 206954784 RIGHT-OF-USE LEASE OBLIGATIONS, NET 623011 623011 X 54597019 15984206 38986 -9833879 6189313 48407706 925483 925483 49333189 45975832 38986 38986 45936846 925483 7792990 8718473 54655319 PART III, LINE 4: THE SCHOOL'S COLLECTIONS ARE MADE UP OF ART OBJECTS AND OTHER ARTIFACTS OF HISTORICAL AND EDUCATIONAL SIGNIFICANCE. EACH ITEM IS DOCUMENTED FOR EDUCATIONAL SIGNIFICANCE AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED PERIODICALLY. PART V, LINE 4: THE OVERALL FINANCIAL OBJECTIVE IS TO PROVIDE FINANCIAL SUPPORT FOR THE SCHOOL'S OPERATIONS AT A LEVEL CONSISTENT WITH MAINTAINING OR INCREASING THE PURCHASING POWER OVER TIME. THE SCHOOL'S POLICY IS TO APPROPRIATE 4.5% OF THE ROLLING TWELVE QUARTER AVERAGE OF THE JUNE 30 ENDOWMENT VALUE TO SUPPORT OPERATIONS. PART X, LINE 2: THE SCHOOL IS ORGANIZED AS A VIRGINIA NONPROFIT CORPORATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER IRS SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN IRS SECTION 501(C)(3), QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER INTERNAL REVENUE CODE (IRC) SECTIONS 170(B)(1)(A)(VI) AND (VIII), AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER IRS SECTIONS 509(A)(1) AND (3). THE SCHOOL IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE SCHOOL IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THEIR EXEMPT PURPOSE. ACTIVITIES UNRELATED TO THE EXEMPT PURPOSE ARE TENNIS AND SWIM CLUB MEMBERSHIPS, AND THE SCHOOL INVESTS IN CERTAIN ALTERNATIVE INVESTMENTS. THE SCHOOL HAD NOMINAL TAXES FROM THESE ACTIVITIES AND HAS FILED AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST TUITION REVENUE -7,792,990. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -2,040,889. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST TUITION REVENUE 7,792,990. 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 POLICY IS PUBLICIZED THROUGH PRINTED MATERIALS AND PERIODIC NOTICES IN NEWSPAPERS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 55554537 0 0 0 0 0 0 55554537 0 55554537 1 0 0 0 1 0 PART III ACCOUNTING METHOD: 1 SCHOLARSHIPS FOR EHS STUDENTS 164 7755720 FINANCIAL AID - HEALTH INSURANCE 7 37270 PART I, LINE 2: PARENTS REQUESTING SCHOLARSHIP ASSISTANCE COMPLETE AND FILE AN APPLICATION, INCLUDING FINANCIAL INFORMATION, WITH THE SCHOOL SCHOLARSHIP SERVICE TO WHICH THE SCHOOL IS A SUBSCRIBER. THE SCHOOL SCHOLARSHIP SERVICE ADVISES THE SCHOOL OF THE ELIGIBILITY OF THE STUDENT FOR THE SCHOLARSHIP ASSISTANCE. ONCE ELIGIBILITY IS ESTABLISHED, SPECIFIC DOLLAR AMOUNTS ARE RECOMMENDED. THE SCHOOL THEN FINALIZES THE AMOUNT OF SCHOLARSHIP AID TO BE GIVEN TO EACH CHILD. SCHOLARSHIPS BASED ON MERIT ARE ALSO GIVEN TO DESERVING STUDENTS. X X X X 1 1 X X 0 0 0 0 0 0 0 1 0 CHARLES STILLWELL PRESIDENT & HEAD OF SCHOOL 489113 0 87505 0 33105 0 0 0 209438 0 819161 0 0 0 WILLIAM H DEBUTTS III SECRETARY/TREASURER/CFO 254123 0 0 0 22876 0 0 0 110779 0 387778 0 0 0 MARY K HUMPHRIES MEDICAL DIRECTOR 267107 0 0 0 360 0 0 0 68185 0 335652 0 0 0 CHRISTINA HOLT ASST. HEAD FOR ADVANCEMENT 193836 0 0 0 5148 0 0 0 112016 0 311000 0 0 0 PHIL SPEARS ASSISTANT HEAD FOR STUDENT LIFE 182492 0 0 0 828 0 0 0 94474 0 277794 0 0 0 STEFANIE SMITH GENERAL COUNSEL 155506 0 0 0 288 0 0 0 85039 0 240833 0 0 0 LUCY GOLDSTEIN DEAN OF FACULTY 150347 0 0 0 306 0 0 0 74651 0 225304 0 0 0 PART I, LINE 1A ON CAMPUS HOUSING WAS FURNISHED TO CERTAIN EMPLOYEES FOR THE CONVENIENCE OF THE EMPLOYER. THE HOUSING IS NECESSARY TO CARRY OUT THE DUTIES OF THEIR JOBS. WE HAVE DISCLOSED FAIR RENTAL VALUE AS THE VALUE OF THE HOUSING BENEFIT. THE ENTIRE COMPENSATION PACKAGES, INCLUDING THE HOUSING ARRANGEMENT, WERE APPROVED BY THE BOARD OF TRUSTEES WITH PROPER DOCUMENTATION. FOLLOWING EMPLOYEES RECEIVED NON-TAXABLE HOUSING BENEFITS: CHARLES STILLWELL - $159,103 WILLIAM H. DEBUTTS, III - $83,010 MARY K. HUMPHRIES - $68,179 CHRISTINA HOLT - $83,010 PHIL SPEARS - $60,431 STEFANIE SMITH - $55,783 LUCY GOLDSTEIN - $60,874 C. STILLWELL RECEIVED TAXABLE DUES IN THE AMOUNT OF $10,229 C. STILLWELL RECEIVED NON-TAXABLE PERSONAL SERVICES IN THE AMOUNT OF $8,397. C. STILLWELL RECEIVED NON-TAXABLE DISCRETIONARY SPENDING IN THE AMOUNT OF $10,082. PART I, LINE 7 HEAD OF SCHOOL IS AWARDED A DISCRETIONARY BONUS BY THE BOARD OF TRUSTEES. A INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF ALEXANDRIA SERIES 2014 521381432 015304ES3 2014-10-07 14176023 REFUND PRIOR ISSUE 0 0 0 B INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF ALEXANDRIA SERIES 2017 521381432 015304FG8 2017-02-02 11456498 REFUND PRIOR ISSUE 0 0 0 C TD BANK 2021 SERIES A 541381432 2021-08-05 20000000 NEW CONSTRUCTION 0 0 0 D TD BANK 2021 SERIES B 541381432 2021-08-05 10000000 NEW CONSTRUCTION 0 0 0 A 5985000 14176023 247282 13928741 2014 1 0 1 1 B 295000 11456498 229912 11226586 2017 0 1 1 1 C 20000000 20000000 2023 0 0 1 1 D 10000000 527500 4472500 2023 0 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 A 0 0 1 0 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 C 0 0 0 0 0 0 0 0 1 D 0 0 0 0 1 0 0 0 1 A 1 B 1 C 1 D 1 SCHEDULE K, PART IV, LINE 2B, EXCEPTION TO REBATE ALL OF THE SCHOOL'S BONDS HAVE ARBITRAGE REPORTS COMPLETED AND SINCE THE SCHOOL DID NOT OWE ANY MONEY, THE SCHOOL DID NOT FILE 8038-T. A 2021 SERIES C 521381432 2021-10-05 26001601 REFUNDING/NEW CONSTRUCTION 0 0 0 A 580000 26001601 442557 25559044 0 1 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 1 A 1 RICHARD F YARBOROUGH FORMER CFO AND SECRETARY/TREASURER OF THE BOARD TO PURCHASE A LIFE INSURANCE POLICY IN WHICH SCHOOL IS THE BENEFICARY X 119514 119514 0 1 1 119514 X 175000 FMV X 32 441731 FMV X PIANO 1 5800 FMV 0 0 1 0 PART I, COLUMN (B): REPORTING THE NUMBER OF CONTRIBUTIONS FORM 990, PART 1, LINE 06, NUMBER OF VOLUNTEERS: THE NUMBER OF VOLUNTEERS REPRESENTS TRUSTEES AND PARENT ADVISORY COUNCIL. FORM 990, PART VI, SECTION A, LINE 8B NO COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE INFORMATION FOR THE 990 IS PREPARED BY THE CONTROLLER. THE INFORMATION IS THEN SENT TO AN ACCOUNTING FIRM FOR ENTRY ONTO THE 990 FORM. THE COMPLETED 990 IS THEN SENT BACK TO THE SCHOOL AND IS REVIEWED BY THE CONTROLLER AND THE CFO. ONCE APPROVED BY THE CFO THE RETURN IS MADE AVAILABLE TO THE BOARD MEMBERS ON THE BOARD PORTAL FOR THEM TO REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL HAS ITS ADMINISTRATIVE TEAM AND ALL BOARD MEMBERS SIGN CONFLICT OF INTEREST STATEMENTS ONCE A YEAR. ON THESE STATEMENTS THEY LIST ANY CONFLICTS OF INTEREST THEY MAY HAVE WITH THE SCHOOL OR WITH EACH OTHER. THE SCHOOL REVIEWS ANY CONFLICTS TO DETERMINE IF THEY WOULD REQUIRE ANY FURTHER ACTION. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS MEETS ANNUALLY TO REVIEW THE COMPENSATION OF THE HEAD OF SCHOOL AND CFO. THE BOARD USES SALARY DATA FROM SIMILAR ORGANIZATIONS TO DETERMINE REASONABLE COMPENSATION. A RECORD OF THIS DECISION IS FILED WITH THE SECRETARY OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -2,040,889.