2026-02-26T09:54:03-06:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 150 S WARNER ROAD SUITE 310 KING OF PRUSSIA PA 19406 990 2024-07-01 231365969 SOLEBURY SCHOOL SOLE 2158625261 6832 PHILLIPS MILL ROAD NEW HOPE PA 189389682 ELIZABETH WAVLE CHAIR 2158625261 2026-02-25 1 1 MALLORY GOOD P01704765 2156433900 2026-02-16 2024 2025-03-06 01:10:19Z ELIZABETH WAVLE 6832 PHILLIPS MILL ROAD NEW HOPE PA 189389682 20456304 0 X WWW.SOLEBURY.ORG X 1925 PA SOLEBURY SCHOOL IS A PRIVATE INDEPENDENT SCHOOL FOR STUDENTS IN GRADES 9 THROUGH 12. 21 21 227 74 0 0 4794291 3269420 15834504 15413468 552595 750535 362604 371969 21543994 19805392 4185652 4314837 0 0 9945278 10282898 0 0 315432 4765560 4834983 18896490 19432718 2647504 372674 49835137 52177308 18187735 18732561 31647402 33444747 X SEE SCHEDULE O.SOLEBURY SCHOOL IS A PRIVATE INDEPENDENT SCHOOL FOR STUDENTS IN GRADES 9 THROUGH 12. SOLEBURY SCHOOL'S MISSION IS TO CREATE AN ENVIRONMENT OF EDUCATIONAL EXCELLENCE THAT PREPARES STUDENTS FOR SUCCESS IN COLLEGE AND BEYOND. IN THE SOLEBURY COMMUNITY, WE STRONGLY VALUE INTELLECTUAL CHALLENGE AND ACADEMIC ACHIEVEMENT, CREATIVE AND INDEPENDENT THINKING, MUTUAL RESPECT BETWEEN STUDENTS AND TEACHERS, DEEP RESPECT FOR EACH INDIVIDUAL, AND DIVERSITY. 0 0 15100369 4314837 15717733 SOLEBURY SCHOOL OPERATES ON A TRIMESTER SYSTEM WITH ADDITIONAL EXPERIENTIAL EDUCATION AND ACADEMIC PROGRAMS DURING THE TWO WEEKS OF SPRING BREAK AND OVER THE SUMMER (INCLUDING GLOBAL EDUCATION AND TRAVEL). IN FY2025 THE SCHOOL ENROLLED 258 STUDENTS (9TH GRADE: 46, 10TH GRADE: 67, 11TH GRADE: 78, 12TH GRADE: 67). OF THOSE STUDENTS, 103 WERE BOARDING STUDENTS AND 155 WERE DAY STUDENTS. THE STUDENT BODY CAME FROM 11 COUNTRIES (NOT INCLUDING THE UNITED STATES) AND 16 STATES, AND OUR 2024 GRADUATES WENT ON TO ATTEND 51 DIFFERENT COLLEGES IN 21 STATES AND 2 COUNTRIES (A 98% PLACEMENT RATE). 15100369 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 54 0 1 227 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X DREW CAHAN DIRECTOR OF FINANCE & OPERATIONS 2158625261 6832 PHILLIPS MILL RD NEW HOPE PA 18902 THOMAS G WILSCHUTZ HEAD OF SCHOOL 40.00 X 272612 0 29613 STEVEN BUTEUX ASSOCIATE HEAD OF SCHOOL 40.00 X 125734 0 24122 SCOTT ECKSTEIN DIR, ENROLLMENT MGT & FINANCIAL AID 40.00 X 116627 0 29115 JONATHAN FREER DIR, INFORMATION & EDUCATIONAL TECH 40.00 X 108917 0 22465 RICHARD TONY DIRECTOR OF STUDIES 40.00 X 102486 0 26409 KRISTY RASKA DIR OF STUDENT SUPPORT & WELLNESS 40.00 X 101844 0 24534 STEVEN FELD DIR OF FINANCE & OPS (UNTIL 08/24) 40.00 X 106865 0 19479 DREW CAHAN DIR OF FINANCE & OPS (AS OF 08/24) 40.00 X 59848 0 20084 ELIZABETH WAVLE CHAIR 2.00 X X 0 0 0 JOSH PERLSWEIG VICE-CHAIR 2.00 X X 0 0 0 ELLEN FAULKNER SECRETARY 2.00 X X 0 0 0 MICHAEL FOLEY TREASURER 2.00 X X 0 0 0 UFUOMA ABIOLA TRUSTEE 2.00 X 0 0 0 ED BEEMER TRUSTEE 2.00 X 0 0 0 SCOTT BOLENBAUGH TRUSTEE 2.00 X 0 0 0 ANN BRADY TRUSTEE 2.00 X 0 0 0 ANDREA DEVEREUX TRUSTEE 2.00 X 0 0 0 ANDY GESPASS TRUSTEE 2.00 X 0 0 0 DESHAWN HENDRICKS TRUSTEE 2.00 X 0 0 0 HAMID HOMAEE TRUSTEE 2.00 X 0 0 0 HEINER MARKHOFF TRUSTEE 2.00 X 0 0 0 JOHN MORROW TRUSTEE 2.00 X 0 0 0 MANDY MUNDY TRUSTEE 2.00 X 0 0 0 SHAUGHNESSY NAUGHTON TRUSTEE 2.00 X 0 0 0 STEPHANIE PAYNE TRUSTEE 2.00 X 0 0 0 JOAN REINTHALER TRUSTEE 2.00 X 0 0 0 COLLEEN SCHLEGEL TRUSTEE 2.00 X 0 0 0 DEREK WARDEN TRUSTEE 2.00 X 0 0 0 BRETT WEBBER TRUSTEE 2.00 X 0 0 0 994933 0 195821 6 0 1 0 QUARRY VIEW CONSTRUCTION LLC 695 HARTMAN STATION RD LANCASTER PA 17601 CONSTRUCTION SERVICES 304157 1 116370 3153050 2268475 3269420 STUDENT TUITION 611110 14863584 14863584 SPRING AND SUMMER PROGRAMS 611110 367759 367759 STUDENT TRANSPORTATION 611110 132900 132900 OTHER STUDENT ACTIVITIES 611110 30385 30385 VISUAL AND PERFORMING ARTS 611110 18840 18840 15413468 590249 590249 71982 0 71982 71982 71982 727533 567247 160286 160286 160286 58331 116370 83343 -25012 -25012 8235 322 7913 7913 ACTIVITY FEE 611710 239245 239245 FORFEITED ENROLLMENT 611710 24753 24753 APPLICATION AND TRANSCRIPT FEES 611710 14559 14559 38529 25708 12821 317086 19805392 15717733 0 818239 4314837 4314837 500657 15185 439917 45555 17023 17023 7729868 5706977 1854591 168300 425698 321216 104482 998301 713975 279762 4564 611351 426418 177491 7442 98084 98084 51371 51371 34472 34472 482307 282183 194339 5785 81191 81132 59 107360 28365 63294 15701 149014 87412 61602 265919 228771 33984 3164 57802 1512 56290 355444 330246 20969 4229 1252306 1060047 178295 13964 253416 235449 14951 3016 FOOD SERVICES 498267 490069 8198 REPAIRS AND MAINTENANCE 387569 323988 59908 3673 MATERIALS AND SUPPLIES 210859 197019 10412 3428 DUES AND MEMBERSHIPS 169983 124405 39379 6199 379619 195272 153994 30353 19432718 15100369 4016917 315432 1350106 1137953 5462884 6424728 1416526 571594 52631 89230 295099 302086 44905701 16198583 27753436 28707118 13376053 14784317 77569 77288 50833 82994 49835137 52177308 705131 786324 5321112 5787125 9884058 9888055 85081 53176 2192353 2217881 18187735 18732561 X 15160479 13592376 16486923 19852371 31647402 33444747 49835137 52177308 X 372674 1422046 2625 X 0 1 X 1 0 X 1597072 7640578 1671637 4794291 3269420 18972998 1597072 7640578 1671637 4794291 3269420 18972998 9584162 9388836 200416 253685 400759 681534 662231 2198625 36361 10140 8235 54736 1528954 5234 3763 4053 12821 1554825 22781184 73238018 0.41210 0.45590 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FORGIVENESS OF PAYCHECK PROTECTION PROGRAM PPP LOAN - 2020 AMOUNT: $ 1,499,259. MISCELLANEOUS INCOME - 2020 AMOUNT: $ 16,483. 2021 AMOUNT: $ 2,060. 2023 AMOUNT: $ 4,053. 2024 AMOUNT: $ 12,821. NON-STUDENT REVENUE - 2020 AMOUNT: $ 7,027. EMPLOYER TAX CREDIT INCOME - 2020 AMOUNT: $ 6,185. REFUNDS - YEARBOOK ADS - 2021 AMOUNT: $ 2,105. 2022 AMOUNT: $ 3,763. MERCHANDISE - 2021 AMOUNT: $ 1,069. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13382053 73532 1865615 216863 315495 14788842 11515997 419500 1766620 187442 132622 13382053 10225869 331895 1268885 185585 125067 11515997 10327085 1824000 -1644556 166599 114061 10225869 7909900 147650 2525812 159694 96583 10327085 0.00180 0.51520 0.48300 0 0 1561506 1561506 36641857 13238212 23403645 4531721 2857210 1674511 2170617 103161 2067456 28707118 GIFT ANNUITY CONTRACTS 20559 OPERATING LEASE LIABILITIES 83017 REFUNDABLE ADVANCE 2114305 2217881 X 16964419 1422046 -4312212 -2890166 19854585 34472 -83665 -49193 19805392 15167074 83665 83665 15083409 34472 4314837 4349309 19432718 PART V, LINE 4: INVESTMENT INCOME GENERATED BY THE ENDOWMENT INVESTMENTS SUPPORTS THE EDUCATIONAL PROGRAMS OF THE SCHOOL. PART X, LINE 2: THE SCHOOL IS TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. IT HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(1) OF THE IRC AND QUALIFIES FOR THE MAXIMUM CHARITABLE CONTRIBUTION DEDUCTION FOR INDIVIDUAL DONORS. THE SCHOOL ACCOUNTS FOR UNCERTAINTIES IN INCOME TAXES IN ACCORDANCE WITH AUTHORITATIVE GUIDANCE, WHICH PRESCRIBES A RECOGNITION THRESHOLD OF MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. THE SCHOOL'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATION EXPENSES. THERE WERE NO UNRECOGNIZED TAX BENEFITS RECORDED DURING THE PERIODS PRESENTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUES OF GIFT ANNUITIES 2,625. FINANCIAL AID -4,314,837. PART XI, LINE 4B - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES -83,343. DIRECT GAMING EXPENSES -322. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES 83,343. DIRECT GAMING EXPENSES 322. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 4,314,837. 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 SCHOOL'S NONDISCRIMINATORY POLICY IS POSTED ON ITS WEBSITE HOMEPAGE AND IN THE STUDENT ENROLLMENT CONTRACT. AUCTION 174701 116370 58331 50181 13738 3515 15909 174701 116370 58331 50181 13738 3515 15909 83343 -25012 1 1 0 0 FINANCIAL ASSISTANCE TO STUDENTS FOR TUITION 128 4314837 N/A N/A PART I, LINE 2: THE PROCESS FOR DETERMINING WHETHER A FAMILY QUALIFIES FOR FINANCIAL AID, AND IF SO, HOW MUCH, BEGINS WITH THE FAMILY FILLING OUT A FINANCIAL AID APPLICATION CALLED THE PARENT FINANCIAL STATEMENT. THIS IS DONE THROUGH AN OUTSIDE COMPANY, SCHOOL AND STUDENT SERVICES, THAT PROVIDES THIS FORM FOR INDEPENDENT SCHOOLS. THE COMPANY'S SOFTWARE HAS AN ALGORITHM THAT EXAMINES THE FINANCIAL DATA A FAMILY SUBMITS AND PROVIDES SCHOOLS WITH AN "ESTIMATED FAMILY CONTRIBUTION" (EFC) - AN ESTIMATE OF WHAT IT FEELS A FAMILY CAN AFFORD FOR TUITION. ONCE STUDENTS ARE ACCEPTED BY THE ADMISSIONS COMMITTEE, THE FINANCIAL AID COMMITTEE EXAMINES THE FINANCIAL AID FORM AND THE DATA FROM THE COMPANY AND DETERMINES WHETHER THE EFC IS ACCURATE, OR WHETHER IT OVERESTIMATES OR UNDERESTIMATES A FAMILY'S ABILITY TO PAY. OFTEN, CONVERSATIONS HAPPEN WITH A FAMILY TO FULLY UNDERSTAND THEIR SITUATION AND TO TRY TO GET THE MOST ACCURATE SENSE OF WHAT A FAMILY CAN AFFORD. ONCE THIS IS DETERMINED, THE FINANCIAL AID COMMITTEE DECIDES WHICH STUDENTS WE CAN AFFORD TO MAKE OFFERS TO AND HOW MUCH AID THESE OFFERS WILL ENTAIL. SADLY, THERE ARE ALWAYS MORE FAMILIES WHO HAVE A GREATER TOTAL NEED THAN OUR RESOURCES ALLOW, AND THUS SOME FAMILIES DO NOT RECEIVE AN ADMISSIONS OFFER. TUITION ASSISTANCE IS ONLY PROVIDED TO STUDENTS OF SOLEBURY SCHOOL AND IS APPLIED DIRECTLY TO THE STUDENT'S TUITION COSTS. NO FUNDS ARE RELEASED TO RECIPIENTS AND AS SUCH THE SCHOOL IS ABLE TO ENSURE PROPER USE OF THE FUNDS. X 1 1 X X X 0 0 0 0 0 0 0 0 0 THOMAS G WILSCHUTZ HEAD OF SCHOOL 272612 0 0 0 0 0 20530 0 9083 0 302225 0 0 0 PART I, LINE 1A BOARDING SCHOOLS TRADITIONALLY HOUSE AS MANY FACULTY AS THEY CAN TO SUPPORT THE RESIDENTIAL EXPERIENCE OF ITS STUDENTS. SOLEBURY SCHOOL PRIORITIZES HOUSING FOR MEMBERS OF THE COMMUNITY WHOSE JOBS REQUIRE THEM TO LIVE ON CAMPUS, SPECIFICALLY, THE HEAD OF SCHOOL, ASSOCIATE HEAD OF SCHOOL, DEAN OF RESIDENCE LIFE, DORM PARENTS, AND MEMBERS OF THE SENIOR LEADERSHIP TEAM WHO SERVE ADMINISTRATIVE ON-CALL DUTY. THIS HOUSING MEETS THE INTERNAL REVENUE SERVICE GUIDELINES FOR EXCLUSION FROM TAXABLE INCOME. A PERKASIE BOROUGH INDUSTRIAL DEVELOPMENT AUTHORITY 232311902 2022-03-31 9995000 REFINANCE 2011 BOND, PAY FOR BOND CLOSING COSTS AND CAPITAL EXPENDITURES 0 0 0 A 9995000 119938 6613361 3261701 2023 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 1 0 0 0 1 A 0 REBECCA WILSCHUTZ REBECCA WILSCHUTZ IS THE SPOUSE OF THOMAS G. WILSCHUTZ, HEAD OF SCHOOL. 55341 REBECCA WILSCHUTZ IS AN EMPLOYEE OF THE SCHOOL WHOSE COMPENSATION INCLUDES $43,568 OF SALARY AND $11,773 OF BENEFITS. 0 X 7 2218294 FAIR MARKET VALUE X AUCTION ITEMS 108 50181 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): FOR LINE 9, THE NUMBER OF CONTRIBUTORS IS REPORTED. FOR LINE 25, THE NUMBER OF ITEMS CONTRIBUTED IS REPORTED. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE CONSISTS OF THE DULY ELECTED OFFICERS OF THE BOARD, THE HEAD OF SCHOOL AND THE CHAIRPERSON OF THE COMMITTEE ON TRUSTEES, THE FINANCE COMMITTEE, THE DEVELOPMENT COMMITTEE, THE INVESTMENT COMMITTEE, THE BUILDINGS AND GROUNDS COMMITTEE, AND THE HEAD EVALUATION COMMITTEE. THE EXECUTIVE COMMITTEE HAS THE FULL AUTHORITY OF THE BOARD TO ACT IN EMERGENCIES OR WHEN PRUDENT MANAGEMENT REQUIRES PROMPT ACTION DURING THE PERIODS BETWEEN MEETINGS OF THE BOARD. SUCH ACTIONS OF THE EXECUTIVE COMMITTEE SHALL REQUIRE A THREE-QUARTERS VOTE OF THE MEMBERS OF THE COMMITTEE, SHALL BE COMMUNICATED PROMPTLY TO THE TRUSTEES, AND SHALL BE PRESENTED TO THE BOARD FOR FORMAL RATIFICATION AT THE BOARD'S NEXT MEETING. FORM 990, PART VI, SECTION B, LINE 11B FORM 990, PART VI, SECTION B, LINE 11A: THIS QUESTION IS REQUIRED TO BE ANSWERED NO BASED ON THE IRS INSTRUCTIONS, BECAUSE, ALTHOUGH THE FULL BOARD DOES RECEIVE AND REVIEW A COPY OF THE FORM 990 PRIOR TO THE RETURN BEING FILED, THE SCHEDULE A IDENTIFICATION OF EXCESS CONTRIBUTIONS STATEMENT AND SCHEDULE OF CONTRIBUTORS (SCHEDULE B) INFORMATION HAVE BEEN REDACTED FROM THE COPY THEY ARE PROVIDED. THIS REDACTION IS THE SCHOOL'S GOOD FAITH EFFORT TO COMPLY AND RESPECT DONOR CONFIDENTIALITY REQUESTS. IF A MEMBER OF THE BOARD WERE TO REQUEST ACCESS TO THE REDACTED INFORMATION, IT WOULD BE PROVIDED TO THEM. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO ALL TRUSTEES AND EXECUTIVE-LEVEL ADMINISTRATIVE EMPLOYEES. POTENTIAL CONFLICTS ARE REPORTED TO THE CHAIR OF THE BOARD, THE HEAD OF SCHOOL, THE DIRECTOR OF FINANCE AND OPERATIONS, AND THE BOARD'S EXECUTIVE COMMITTEE. THESE PARTIES CONSULT WITH EACH OTHER TO DETERMINE IF AN ACTUAL CONFLICT EXISTS. THE FINAL DECISION BELONGS TO THE CHAIR OF THE BOARD, UNLESS THE POTENTIAL CONFLICT INVOLVES THAT PERSON; THEN, IT GOES TO THE HEAD OF THE SCHOOL IN CONSULTATION WITH THE EXECUTIVE COMMITTEE OF THE BOARD. IF A CONFLICT IS IDENTIFIED, A DETERMINATION IS MADE ABOUT THE POTENTIAL FOR SUCH A CONFLICT TO COMPROMISE THE SCHOOL'S WELL-BEING WHICH INVOLVES QUESTIONS OF MAGNITUDE (USUALLY FINANCIAL), CONSEQUENCES, ALTERNATIVES, ETC. THE WELL-BEING OF THE SCHOOL, ITS STUDENTS/FAMILIES, ITS FACULTY/STAFF, AND ITS OVERALL COMMUNITY IS ALWAYS THE PRIMARY BASIS FOR A DECISION AS TO WHETHER OR NOT THE SCHOOL CAN PROCEED DESPITE THE CONFLICT. ANNUAL DISCLOSURE OF ACTUAL AND POTENTIAL CONFLICTS IS REQUIRED. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE DETERMINES THE INITIAL COMPENSATION OF THE HEAD OF SCHOOL USING COMPENSATION DATA FROM THE SCHOOL'S LOCAL AND NATIONAL ASSOCIATIONS. THE HEAD OF SCHOOL TYPICALLY RECEIVES THE SAME BOARD-APPROVED ANNUAL INCREASE AS ALL FACULTY AND STAFF. EXCEPTIONS MAY BE MADE BASED ON THE RESULTS OF A REVIEW BY THE HEAD EVALUATION COMMITTEE. ALL COMPENSATION DECISIONS ARE TIMELY DOCUMENTED IN A LETTER FROM THE CHAIR OF THE BOARD TO THE HEAD OF SCHOOL. THE SEARCH COMMITTEE, WHICH INCLUDED BOARD MEMBERS, DETERMINES THE INITIAL COMPENSATION OF THE DIRECTOR OF FINANCE AND OPERATIONS USING GUIDANCE AND DATA PROVIDED BY SEARCH CONSULTANTS. ALL COMPENSATION DECISIONS ARE TIMELY DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUES OF GIFT ANNUITIES 2,625.