2026-05-13T09:32:25-05:00 2025-06-30 340677006 MALONEY NOVOTNY LLC 1111 SUPERIOR AVE SUITE 700 CLEVELAND OH 441142540 990 2024-07-01 340714390 WESTERN RESERVE ACADEMY WEST 3306504400 115 COLLEGE STREET HUDSON OH 442362926 THOMAS P ARNOLD CFOO 3306504400 2026-05-13 1 0 CHRISTOPHER B ANDERSON P00226559 2163630100 2024 2025-03-06 01:10:19Z SUZANNE E BUCK 115 COLLEGE STREET HUDSON OH 442362926 66039034 0 X WWW.WRA.NET X 1826 OH TO PREPARE STUDENTS TO BLAZE TRAILS IN LEARNING AND IN LIFE. 28 28 266 50 97087 18417 13352239 7968795 28770295 29659904 7674375 9967111 6326 7305 49803235 47603115 9920638 9181089 0 0 15952726 16491480 0 0 2419392 15125821 15497097 40999185 41169666 8804050 6433449 225622263 231853556 23797659 22029046 201824604 209824510 MISSION: TO PREPARE STUDENTS TO BLAZE TRAILS IN LEARNING AND IN LIFE.VISION: TO DELIVER AN UNRIVALED EDUCATIONAL EXPERIENCE ILLUMINATED BY TRADITION, SPARKED BY INNOVATION, AND ENERGIZED BY JOY. 0 0 33070592 9181089 29659904 THE ACADEMY IS A SECONDARY CO-EDUCATIONAL SCHOOL WITH APPROXIMATELY 428 STUDENTS. OUR FACULTY CULTIVATES INTELLECTUAL CURIOSITY THROUGH A CHALLENGING COLLEGE PREPARATORY PROGRAM; OUR STUDENTS PURSUE A RIGOROUS LIBERAL ARTS CURRICULUM AND ENGAGE IN OPPORTUNITIES BEYOND THE CLASSROOM IN ARTS, ATHLETICS, AND SERVICE, ENSURING GROWTH IN MIND, BODY, AND SPIRIT. THE ACADEMY'S CLOSE-KNIT COMMUNITY INSTILLS INDIVIDUAL AND SOCIAL RESPONSIBILITY, WHILE PREPARING STUDENTS AS CITIZENS AND LEADERS IN AN INCREASINGLY INTERCONNECTED WORLD. 33070592 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 23 0 1 266 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 1 1 0 OH X THOMAS P ARNOLD 3306504400 115 COLLEGE STREET HUDSON OH 442362926 DANIEL H BAYLY TRUSTEE 0.50 X 0 0 0 MEREDITH BROADBENT TRUSTEE 0.50 X 0 0 0 STEPHAN W COLE VICE PRESIDENT 1.00 X X 0 0 0 SUZANNE DAY TRUSTEE 0.50 X 0 0 0 THOMAS E DUNN TRUSTEE 0.50 X 0 0 0 WARREN W FARR III TRUSTEE 0.50 X 0 0 0 DAGMAR F FELLOWES TRUSTEE 0.50 X 0 0 0 JOHN M FOWLER TREASURER 1.00 X X 0 0 0 MARTIN D FRANKS CO-PRESIDENT 2.00 X X 0 0 0 PHILIP FRANZ TRUSTEE 0.50 X 0 0 0 JOHN P HEWKO TRUSTEE 0.50 X 0 0 0 CLIFTON D HOOD TRUSTEE 0.50 X 0 0 0 MICHAEL A JOHNSON TRUSTEE 0.50 X 0 0 0 JEFFREY E JOHNSTON TRUSTEE 0.50 X 0 0 0 ALANA L JOINER TRUSTEE 0.50 X 0 0 0 NATHANIEL E LEONARD CO-PRESIDENT 2.00 X X 0 0 0 DALE G KRAMER TRUSTEE 0.50 X 0 0 0 CECILY PRYCE MAGUIRE TRUSTEE 0.50 X 0 0 0 ANNE CACIOPPO MANGANARO TRUSTEE 0.50 X 0 0 0 TUCKER H MARSHALL TRUSTEE 0.50 X 0 0 0 PRIYA B MASEELALL TRUSTEE 0.50 X 0 0 0 MICHAEL O RUSSELL TRUSTEE 0.50 X 0 0 0 MARCIA SPILLER TRUSTEE 0.50 X 0 0 0 TIANHAO BARNABAS WANG TRUSTEE 0.50 X 0 0 0 TIMOTHY R WARNER TRUSTEE 0.50 X 0 0 0 MARK J WELSHIMER SECRETARY 1.00 X X 0 0 0 KATHLEEN A WOOD TRUSTEE 0.50 X 0 0 0 ANTHONY WYNSHAW-BORISMDPHD TRUSTEE 0.50 X 0 0 0 SUZANNE E BUCK HEAD OF SCHOOL 40.00 X 525842 0 166835 THOMAS P ARNOLD CHIEF FIN.&OP.OFFICER 40.00 X 332386 0 56837 MARK L LAFONTAINE ASST.HEAD OF SCHOOL FOR ADV. 40.00 X 310834 0 32024 JEFFREY JACOT DIR.-CAPITAL PROJECTS 40.00 X 172026 0 35192 MATTHEW L GERBER CHIEF INNOVATION OFFICER 40.00 X 170592 0 38632 BRENDA PETERSEN ASSOC.HEAD OF SCHOOL FOR FAC.ENG. 40.00 X 208154 0 43659 MARGARET COLAFELLA CHIEF COMMUNICATIONS OFFICER 40.00 X 150562 0 24125 E SCHAEFFER BARNHARDT DIR.-ENROLLMENT MGMT. 40.00 X 130883 0 50437 RUTH D ANDREWS DIR.-LEADERSHIP GIFTS 40.00 X 142734 0 32126 ANNA BARLOW BOESCH DIR.-COLLEGE COUNSELING 40.00 X 131945 0 64669 WANDA BOESCH CORDON DEAN OF ACADEMIC AFFAIRS 40.00 X 124305 0 55621 DAVID CHIARELLA DIR.-COUNSELING&PSYCH.SVCS. 40.00 X 147597 0 24518 2547860 0 624675 20 0 1 0 FLIK PO BOX 91337 CHICAGO IL 606931337 FOOD SERVICE 1618344 PARKHURST DINING PO BOX 644091 PITTSBURGH PA 15264 FOOD SERVICE 1244536 VIZMEG LANDSCAPE INC 778 MCCAULEY ROAD SUITE 100 STOW OH 44224 LANDSCAPING 671438 JANCO SERVICE INDUSTRIES 824 W STREETSBORO ST HUDSON OH 44236 CLEANING 646096 BIALOSKY CLEVELAND 6555 CARNEGIE AVE CLEVELAND OH 44103 ARCHITECTS 340011 9 39599 7929196 1429791 7968795 BOARDING STUDENTS TUITION 611110 19906259 19906259 DAY STUDENTS TUITION 611110 7947586 7947586 RELATED ENTERPRISES 611110 1806059 1806059 29659904 4814497 97087 4717410 23566487 18413873 5152614 5152614 5152614 29351 39599 22046 7305 7305 47603115 29659904 97087 9877329 9181089 9181089 1931500 296575 1018275 616650 10462415 8613569 906373 942473 1129708 782385 215067 132256 2042746 1572901 321707 148138 925111 654452 165103 105556 39702 19851 19851 78700 78700 1704313 1704313 977471 928598 29324 19549 340158 340158 488952 464504 14669 9779 693530 658853 20806 13871 2615169 2484411 78455 52303 524577 344172 114793 65612 3166 3166 369662 369662 2681931 2547834 80458 53639 325951 309653 9779 6519 FOOD SERVICE 2201780 2201780 OTHER DEPARTMENTAL EXP. 1794692 1009298 532347 253047 RESTRICTED STUDENT EXP. 376784 376784 AUXILIARY ENTERPRISES 280559 280559 41169666 33070592 5679682 2419392 3323540 2116233 2776993 5984004 6934487 6028585 106159 25846 128401 105941 431594 423232 111354168 55543771 57669197 55810397 46359269 31253893 103935667 126575405 3956956 3530020 225622263 231853556 2454782 1219209 3744524 3898709 16079021 15251293 1519332 1659835 23797659 22029046 X 52481642 54228710 149342962 155595800 201824604 209824510 225622263 231853556 X 6433449 2175626 -609169 X 0 1 X 1 0 X 10834167 17899148 12234991 13352239 7968975 62289520 10834167 17899148 12234991 13352239 7968975 62289520 20399793 41889727 3890390 3461199 4672277 5762767 4814497 22601130 1248 7093 6326 7305 21972 84912622 135933801 0.49330 0.47240 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 92242518 3784797 7707525 4067996 99666844 81805340 6909790 6659711 3132323 92242518 76900232 1352147 8062060 4509099 81805340 74844042 1045485 3716789 2706084 76900232 65261224 2376614 11531653 4325449 74844042 0.09271 0.52365 0.38364 0 0 1636412 1636412 101348604 49852392 51496212 8369152 5691379 2677773 55810397 ALTERNATIVE INVESTMENTS 126575405 F 126575405 ANNUITIES PAYABLE 1057645 DEFERRED COMPENSATION LIABILITY 602190 1659835 X 38284170 2175626 -609169 1566457 36717713 1704313 9181089 10885402 47603115 30284264 0 30284264 1704313 9181089 10885402 41169666 PART V, LINE 4: INTENDED USE OF ENDOWMENT FUNDS - THE ACADEMY INVESTS ENDOWMENT FUNDS ACCORDING TO BOARD-APPROVED INVESTMENT POLICIES WHICH GOVERN ASSET ALLOCATION IN AN EFFORT TO REDUCE RISK OF LOSS AND TO GENERATE A REAL ANNUAL COMPOUND RATE OF RETURN AT LEAST EQUAL TO THE ANNUAL PAYOUT PERCENTAGE. THE ANNUAL PAYOUT FROM ENDOWMENT FUNDS WAS BASED ON A DRAW OF 4.5% - 6% OF THE 5-YEAR AVERAGE WEIGHTED MARKET VALUE OF INVESTABLE ASSETS IN THE PERMANENTLY RESTRICTED FUND PLUS AN AMOUNT TO COVER DEBT SERVICE COSTS AND IS SUBJECT TO BOARD APPROVAL. THE PAYOUT IS SPENT ON ACTIVITIES WHICH FURTHER THE EXEMPT EDUCATIONAL PURPOSES OF THE ACADEMY. PART X, LINE 2: FIN 48 (ASC 740) FOOTNOTE - FEDERAL INCOME TAXES: THE ACADEMY IS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS EXEMPT FROM FEDERAL INCOME TAXES. THERE WERE NO UNRECOGNIZED TAX BENEFITS AS OF JUNE 30, 2025. AS OF JUNE 30, 2025, THE ACADEMY'S INCOME TAX RETURNS REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, AS WELL AS VARIOUS STATE AND LOCAL TAXING AUTHORITIES, GENERALLY FOR THREE YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN SPLIT INTEREST AGREEMENTS -123,819. CHANGE IN VALUE OF INTEREST RATE SWAP -485,350. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID, WHICH WAS NETTED WITH TUITION REVENUE ON THE FINANCIAL STATEMENTS BUT SHOWN AS AN EXPENSE IN PART IX OF FORM 990 9,181,089. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID, WHICH WAS NETTED WITH TUITION REVENUE ON THE FINANCIAL STATEMENTS BUT SHOWN AS AN EXPENSE IN PART IX OF FORM 990 9,181,089. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 WESTERN RESERVE ACADEMY'S STUDENT SOLICITATION EFFORTS INCLUDE THE USE OF ONLINE AND SOCIAL MEDIA PLATFORMS THAT DIRECT INDIVIDUALS TO THE ACADEMY'S WEBSITE WHICH LISTS ITS NON-DISCRIMINATION POLICIES. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 27902572 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 13670831 0 0 0 0 0 0 41573403 0 41573403 1 0 1 0 1 0 GOLF OUTING 68950 39599 29351 3617 11970 6448 11 68950 39599 29351 3617 11970 6448 11 22046 7305 1 SCHOLARSHIPS FOR STUDENTS 243 9181089 0 PART I, LINE 2: MONITORING USE OF GRANT FUNDS - THE ACADEMY ENSURES THAT ITS FINANCIAL AID GRANTS ARE USED FOR EDUCATIONAL PURPOSES BY CREDITING THE AMOUNTS DIRECTLY TO THE STUDENTS' ACCOUNTS RATHER THAN ISSUING CHECKS. X X X X 1 1 X X 0 0 0 0 0 0 0 0 0 SUZANNE E BUCK HEAD OF SCHOOL 469290 0 50000 0 6552 0 34500 0 132335 0 692677 0 0 0 THOMAS P ARNOLD CHIEF FIN.&OP.OFFICER 306354 0 25000 0 1032 0 31500 0 25337 0 389223 0 0 0 MARK L LAFONTAINE ASST.HEAD OF SCHOOL FOR ADV. 309250 0 0 0 1584 0 30925 0 1099 0 342858 0 0 0 BRENDA PETERSEN ASSOC.HEAD OF SCHOOL FOR FAC.ENG. 207602 0 0 0 552 0 20900 0 22759 0 251813 0 0 0 MATTHEW L GERBER CHIEF INNOVATION OFFICER 154609 0 0 0 15983 0 16550 0 22082 0 209224 0 0 0 JEFFREY JACOT DIR.-CAPITAL PROJECTS 170994 0 0 0 1032 0 17750 0 17442 0 207218 0 0 0 ANNA BARLOW BOESCH DIR.-COLLEGE COUNSELING 131755 0 0 0 190 0 14425 0 50244 0 196614 0 0 0 E SCHAEFFER BARNHARDT DIR.-ENROLLMENT MGMT. 110785 0 20000 0 98 0 12200 0 38237 0 181320 0 0 0 WANDA BOESCH CORDON DEAN OF ACADEMIC AFFAIRS 123424 0 0 0 881 0 12825 0 42796 0 179926 0 0 0 RUTH D ANDREWS DIR.-LEADERSHIP GIFTS 141238 0 0 0 1496 0 15000 0 17126 0 174860 0 0 0 MARGARET COLAFELLA CHIEF COMMUNICATIONS OFFICER 150098 0 0 0 464 0 15125 0 9000 0 174687 0 0 0 DAVID CHIARELLA DIR.-COUNSELING&PSYCH.SVCS. 146130 0 0 0 1467 0 15250 0 9268 0 172115 0 0 0 PART I, LINE 1A BENEFITS PROVIDED TO CERTAIN EMPLOYEES - THE FOLLOWING ARE PROVIDED HOUSING: HEAD OF SCHOOL, DIRECTOR OF ENROLLMENT MANAGEMENT, CHIEF INNOVATION OFFICER, DIRECTOR OF COLLEGE COUNSELING, AND DIRECTOR OF ACADEMIC AFFAIRS. THE HEAD OF SCHOOL RECEIVES HOUSEKEEPING SERVICES AND AN ALLOWANCE FOR HER HUSBAND TO TRAVEL WITH HER. WRA ALSO PAYS MONTHLY DUES FOR THE HEAD OF SCHOOL'S HARVARD CLUB OF BOSTON MEMBERSHIP. A DEVFINAUTHORITY OF SUMMIT COUNTY-SERIES 2020 341765940 2020-07-16 17742000 REFINANCING OF 2017A & 2017B BONDS 0 0 0 A 17590200 17742000 151800 1 0 1 1 A 0 0 0 0 0 0 0 A 0 1 0 0 1 1 FNB OF PA 15.000000000000 0 0 0 0 1 A 0 X 50 1429791 FMV X CAMERA LENS 2 0 N/A-REVENUE NOT BOOK X FIREWORKS 1 0 N/A-REVENUE NOT BOOK 0 0 1 1 PART I, LINE 32B: USE OF THIRD PARTIES - THE ACADEMY USES A SECURITIES BROKER TO SELL DONATED SECURITIES. THE FEES CHARGED BY THE BROKER ARE AT OR BELOW FAIR MARKET VALUE. PART I, LINE 33: REPORTING REVENUE FOR CERTAIN NONCASH ITEMS - THE ACADEMY DID NOT BOOK REVENUE FOR THE ITEMS LISTED ON LINES 25-26, A PRACTICE THAT IS PERMITTED UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW - FORM 990 IS REVIEWED BY A COMMITTEE OF THE BOARD OF TRUSTEES WITH THE BOARD'S AUTHORITY TO OVERSEE THE FILING PROCESS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 PROVIDED TO GOVERNING BODY - BECAUSE OF THE CONFIDENTIAL NATURE OF DONOR INFORMATION, THE ACADEMY HAS CHOSEN NOT TO SHARE THE NAMES AND ADDRESSES OF DONORS LISTED ON SCHEDULE B WITH THE BOARD OF TRUSTEES. THEREFORE, THE ACADEMY PROVIDED A COPY OF FORM 990 TO THE BOARD BUT REDACTED THE NAMES AND ADDRESSES OF DONORS FROM SCHEDULE B. AS SUCH, WE ARE REQUIRED TO ANSWER "NO" TO THE QUESTION ON LINE 11A OF PART VI EVEN THOUGH THE BOARD WAS GIVEN FORM 990 BEFORE IT WAS FILED. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCEMENT OF CONFLICT POLICY - THE CONFLICT OF INTEREST QUESTIONNAIRES ARE REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. SIGNIFICANT ISSUES ARE DISCUSSED AND RESOLVED. WHEN A CONFLICT ARISES, THE INDIVIDUAL IS NOT PERMITTED TO PARTICIPATE IN THE DISCUSSION OF THE TRANSACTION OR TO VOTE ON THE MATTER. THE DECISION ABOUT THE TRANSACTION IS MADE BY PERSONS WHO ARE INDEPENDENT OF THE INDIVIDUAL WITH THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW AND APPROVAL - AS A SUB-COMMITTEE TO THE BOARD OF TRUSTEES, THE COMPENSATION COMMITTEE DETERMINES ANNUAL SALARY, ANY BONUS AMOUNTS, AND ANY DEFERRED COMPENSATION FOR THE HEAD OF SCHOOL. THE COMMITTEE'S DECISION IS INFORMED BY REVIEWING BENCHMARK DATA PROVIDED BY NAIS, TABS, NBOA, ABOPS, AND OAIS, ALL OF WHICH ARE EITHER LOCAL, REGIONAL, OR NATIONAL ORGANIZATIONS THAT COLLECT DATA RELATED TO INDEPENDENT SCHOOL COMPENSATION. THIS INFORMATION, COMBINED WITH PERFORMANCE IN MEETING PREVIOUSLY ESTABLISHED GOALS, IS THEN USED TO DETERMINE THE FULL COMPENSATION PACKAGE. A SIMILAR PROCESS IS USED BY THE HEAD OF SCHOOL IN DETERMINING THE COMPENSATION AMOUNTS FOR LEADERSHIP POSITIONS. THIS INFORMATION IS ALSO SHARED WITH THE COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS - THE ACADEMY'S FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE ACADEMY DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT POLICY AVAILABLE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP -485,350. CHANGE IN SPLIT INTEREST AGREEMENTS -123,819. WRA INNOVATIONS LLC 115 COLLEGE STREET HUDSON OH 44236 843664989 DELIVERY OF PROGRAM ASSISTANCE OH 9942 3686 WESTERN RESERVE ACADEMY