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ALL ENDOWMENT FUNDS WERE TRANSFERRED TO THE SUCCESSOR ORGANIZATION WITH ALL STIPULATIONS AND RESTRICTIONS IN PLACE. THE USES FOR THE ENDOWMENT FUNDS, AS STATED ABOVE, WILL REMAIN IN EFFECT."},{"identifier":"DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:","explanation":"THE ORGANIZATION 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 ORGANIZATION'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR 2012, 2011, AND 2010 REMAIN SUBJECT TO EXAMINATION BY THE IRS. THE ORGANIZATION'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES."},{"identifier":"PART XI, LINE 2D - OTHER ADJUSTMENTS:","explanation":"FINANCIAL AID -2,548,200. AMORTIZATION OF DISCOUNT ON SPLIT-INTEREST ARRANGEMENTS 4,408. CHANGE IN VALUE OF BENEFICIAL INTEREST IN CHARITABLE TRUST -4,456. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 10,686. ENDOWMENT RETURN 3,151,964. LOSS ON DEBT EXTINGUISHMENT -258,121. TUITION REFUND -71,245."},{"identifier":"PART XI, LINE 4B - OTHER ADJUSTMENTS:","explanation":"COST OF GOODS SOLD -95,070. RENTAL EXPENSES NETTED WITH RENTAL INCOME -23,117."},{"identifier":"PART XII, LINE 2D - OTHER ADJUSTMENTS:","explanation":"COST OF GOODS SOLD 95,070. RENTAL EXPENSES NETTED WITH RENTAL INCOME 23,117."},{"identifier":"PART XII, LINE 4B - OTHER ADJUSTMENTS:","explanation":"FINANCIAL AID 2,548,200. LOSS ON DEBT EXTINGUISHMENT 258,121. PLANT OPERATIONS ALLOCATED FROM SPRINGSIDE CHESTNUT HILL ACADEMY 4,303,682. 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THE STATE DIRECTLY PURCHASES THESE ITEMS BASED ON AN APPLICATION SENT IN BY CHESTNUT HILL ACADEMY."}]},"ScheduleI":{"grant_records_maintained":true,"reported_domestic_individual_grants":2548200,"reported_domestic_individual_grants_program_services":2548200,"individual_grants":[{"type":"FINANCIAL AID FOR TUITION","recipient_count":182,"cash":2548200}],"total_domestic_grants":2548200,"total_domestic_program_services":2548200,"detail_individual_grants_total":2548200,"detail_domestic_grants_total":2548200,"supplemental_information":[{"identifier":"PROCEDURE FOR MONITORING GRANTS IN THE U.S.:","form_and_line_reference":"PART I, LINE 2:","explanation":"SCHEDULE I, PART I, LINE 2: CHESTNUT HILL ACADEMY SUBSCRIBES TO THE NAIS PRINCIPLES OF GOOD PRACTICE IN FINANCIAL AID ADMINISTRATION AND HAS INCORPORATED THESE INTO ITS SCHOOL-WIDE FINANCIAL AID POLICY. THIS POLICY 1) SUPPORTS CHESTNUT HILL'S COMMITMENT TO ACCESS AND DIVERSITY; 2) ENABLES CHESTNUT HILL TO ENROLL THE BEST AND BRIGHTEST OF ITS APPLICANTS REGARDLESS OF NEED; 3) ENABLES CHESTNUT HILL TO MAINTAIN AND INCREASE ENROLLMENT DURING A PERIOD OF ECONOMIC UNCERTAINTY AND INTENSE COMPETITION AMONG SCHOOLS. 1) A FINANCIAL AID BUDGET IS SET EACH YEAR BY THE TRUSTEES OF CHESTNUT HILL ACADEMY USING INCOME FROM ENDOWED FUNDS AND OPERATING REVENUE. IN SETTING THE BUDGET, THE BOARD CONSIDERS THE LEVEL OF NEED ALREADY EXISTING IN THE SCHOOL BASED ON THE PREVIOUS YEAR'S ALLOCATIONS, AS WELL AS PROPOSED TUITION INCREASES. 2) CHESTNUT HILL STRIVES THROUGH ITS PUBLICATIONS AND FACE-TO-FACE CONTACTS TO PUBLICIZE AND EXPLAIN ITS FINANCIAL AID PROGRAM AND TO DISCLOSE ALL INFORMATION PERTAINING TO THE COST OF A CHESTNUT HILL EDUCATION. 3) ALLOCATION OF FINANCIAL AID FUNDS IS CARRIED OUT BY A COMMITTEE OF ADMISSION OFFICERS AND THE DIRECTOR OF FINANCE AND OPERATIONS; FILES ARE MAINTAINED BY THE ADMISSIONS ASSISTANT. 4) CHESTNUT HILL DOES NOT DISCRIMINATE IN ITS FINANCIAL AID ALLOCATIONS ON THE BASIS OF RACE, COLOR, RELIGION OR NATIONAL ORIGIN; CHESTNUT HILL DOES NOT USE FINANCIAL NEED AS A CONSIDERATION IN DETERMINING A STUDENT'S ELIGIBILITY FOR ADMISSION; THE SCHOOL USES A UNIFORM METHODOLOGY TO ASSESS ANNUALLY, IN A CONSISTENT AND EQUITABLE MANNER, EACH FAMILY'S ABILITY TO PAY FOR EDUCATION. A) CHESTNUT HILL RECOGNIZES THAT PRIMARY RESPONSIBILITY FOR FINANCING A STUDENT'S EDUCATION RESTS WITH THE FAMILY, AND THAT THE FAMILY WILL HAVE SOUGHT FUNDS FROM ALL SOURCES INCLUDING EMPLOYMENT, RELATIVES, ASSETS, AND THE ELLIS FOUNDATION (IF ELIGIBLE) IN ADDITION TO SEEKING AID FROM CHESTNUT HILL. B) ASSESSMENT OF NEED IS DETERMINED BY THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSS) IN PRINCETON, NEW JERSEY, FOLLOWING THE FAMILY'S SUBMISSION OF A COMPLETED PARENTS' FINANCIAL STATEMENT, SUPPLEMENTED BY A COPY OF THE MOST RECENT IRS 1040 FORM AND A RECENT PAYSTUB TO VERIFY EARNINGS. ASSESSMENT OF NEED MAY REQUIRE FURTHER VERIFICATION. NO FINANCIAL AID AWARD WILL EXCEED A FAMILY'S DEMONSTRATED NEED. C) IN AWARDING AID, THE COMMITTEE TAKES INTO ACCOUNT THE NUMBER, AGES AND SCHOOLS OF CHILDREN, ADDITIONAL DEPENDENTS, ALL SOURCES OF INCOME INCLUDING THE STUDENT'S OWN INCOME, DEBTS AND UNUSUAL EXPENSES, SPENDING PRIORITIES, AND WHETHER A SECOND WORKING PARENT IS CONTRIBUTING TO FAMILY INCOME WHERE POSSIBLE. D) IN CASES OF DIVORCE OR SEPARATION, CHESTNUT HILL REQUIRES A COMPLETED PARENTS' FINANCIAL STATEMENT FROM THE NON-CUSTODIAL PARENT, WHETHER OR NOT THE NON-CUSTODIAL PARENT SHARES IN THE COST OF EDUCATION. IF THE STUDENT RESIDES WITH A STEP-PARENT, CHESTNUT HILL REQUIRES A PFS FROM THE STEP-PARENT. 5) CHESTNUT HILL STRIVES TO MAKE AWARDS AS CLOSE TO DEMONSTRATED NEED (BASED ON THE PFS) AS POSSIBLE, BUT ALSO EXPECTS THAT EACH FAMILY WILL CONTRIBUTE AN APPROPRIATE PORTION OF TUITION AND FEES. A) EXCEPTIONS TO THIS ARE THE SPECIALLY ENDOWED NEIGHBORHOOD SCHOLARSHIP COMPETITION WINNERS IN GRADES SIX AND UP, WHOSE AID MAY CONSIST OF FULL TUITION, AS LONG AS THERE IS DEMONSTRATED FULL NEED. 6) AWARDS ARE MADE ON A ONE-YEAR BASIS AND REQUIRE RE-APPLICATION EVERY YEAR. FAMILIES ALREADY IN THE SCHOOL HAVE PRIORITY OVER NEW FAMILIES, AS LONG AS THEY MEET THE APPLICATION DEADLINE. CHESTNUT HILL IS COMMITTED TO SUPPORTING A STUDENT THROUGH GRADUATION AT THE SAME LEVEL OF FUNDING UNLESS THERE IS A CHANGE IN FINANCIAL CIRCUMSTANCES. A) AN AWARD IS CONTINGENT UPON THE FAMILY'S MEETING ITS FINANCIAL OBLIGATION TO CHESTNUT HILL FOR THE CURRENT YEAR. B) CHESTNUT HILL DOES NOT SET DIFFERENT STANDARDS OF BEHAVIOR OR ACADEMIC PERFORMANCE FOR FINANCIAL AID RECIPIENTS; HIGH ACADEMIC STANDARDS AND EXEMPLARY CITIZENSHIP ARE EXPECTED OF ALL STUDENTS. HOWEVER, STUDENTS ON ACADEMIC OR DISCIPLINARY PROBATION MAY LOSE THEIR ELIGIBILITY FOR FINANCIAL AID, AT THE DISCRETION OF THE HEAD OF SCHOOL. 7) CHESTNUT HILL HAS A FORMAL REVIEW PROCEDURE FOR FAMILIES WHO WISH TO REQUEST ADDITIONAL FUNDING, WHICH REQUIRES A WRITTEN APPEAL AND A SECOND MEETING OF THE FINANCIAL AID COMMITTEE. 8) CHESTNUT HILL SAFEGUARDS THE CONFIDENTIALITY OF ALL FINANCIAL INFORMATION SUPPLIED BY A FAMILY, AND SHALL REFRAIN FROM AND DISCOURAGE OTHERS FROM MAKING ANY PUBLIC ANNOUNCEMENT OF THE AMOUNT OF FINANCIAL AID AWARDED TO A STUDENT."}],"grant_monitoring":{"claims_monitoring_procedures":true,"requires_financial_reports":true,"requires_narrative_reports":false,"conducts_site_visits":false,"conducts_field_audits":false,"requires_grant_agreements":false,"may_suspend_future_funding":false,"may_require_repayment":false,"monitoring_description":"SCHEDULE I, PART I, LINE 2: CHESTNUT HILL ACADEMY SUBSCRIBES TO THE NAIS PRINCIPLES OF GOOD PRACTICE IN FINANCIAL AID ADMINISTRATION AND HAS INCORPORATED THESE INTO ITS SCHOOL-WIDE FINANCIAL AID POLICY. THIS POLICY 1) SUPPORTS CHESTNUT HILL'S COMMITMENT TO ACCESS AND DIVERSITY; 2) ENABLES CHESTNUT HILL TO ENROLL THE BEST AND BRIGHTEST OF ITS APPLICANTS REGARDLESS OF NEED; 3) ENABLES CHESTNUT HILL TO MAINTAIN AND INCREASE ENROLLMENT DURING A PERIOD OF ECONOMIC UNCERTAINTY AND INTENSE COMPETITION AMONG SCHOOLS. 1) A FINANCIAL AID BUDGET IS SET EACH YEAR BY THE TRUSTEES OF CHESTNUT HILL ACADEMY USING INCOME FROM ENDOWED FUNDS AND OPERATING REVENUE. IN SETTING THE BUDGET, THE BOARD CONSIDERS THE LEVEL OF NEED ALREADY EXISTING IN THE SCHOOL BASED ON THE PREVIOUS YEAR'S ALLOCATIONS, AS WELL AS PROPOSED TUITION INCREASES. 2) CHESTNUT HILL STRIVES THROUGH ITS PUBLICATIONS AND FACE-TO-FACE CONTACTS TO PUBLICIZE AND EXPLAIN ITS FINANCIAL AID PROGRAM AND TO DISCLOSE ALL INFORMATION PERTAINING TO THE COST OF A CHESTNUT HILL EDUCATION. 3) ALLOCATION OF FINANCIAL AID FUNDS IS CARRIED OUT BY A COMMITTEE OF ADMISSION OFFICERS AND THE DIRECTOR OF FINANCE AND OPERATIONS; FILES ARE MAINTAINED BY THE ADMISSIONS ASSISTANT. 4) CHESTNUT HILL DOES NOT DISCRIMINATE IN ITS FINANCIAL AID ALLOCATIONS ON THE BASIS OF RACE, COLOR, RELIGION OR NATIONAL ORIGIN; CHESTNUT HILL DOES NOT USE FINANCIAL NEED AS A CONSIDERATION IN DETERMINING A STUDENT'S ELIGIBILITY FOR ADMISSION; THE SCHOOL USES A UNIFORM METHODOLOGY TO ASSESS ANNUALLY, IN A CONSISTENT AND EQUITABLE MANNER, EACH FAMILY'S ABILITY TO PAY FOR EDUCATION. A) CHESTNUT HILL RECOGNIZES THAT PRIMARY RESPONSIBILITY FOR FINANCING A STUDENT'S EDUCATION RESTS WITH THE FAMILY, AND THAT THE FAMILY WILL HAVE SOUGHT FUNDS FROM ALL SOURCES INCLUDING EMPLOYMENT, RELATIVES, ASSETS, AND THE ELLIS FOUNDATION (IF ELIGIBLE) IN ADDITION TO SEEKING AID FROM CHESTNUT HILL. B) ASSESSMENT OF NEED IS DETERMINED BY THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSS) IN PRINCETON, NEW JERSEY, FOLLOWING THE FAMILY'S SUBMISSION OF A COMPLETED PARENTS' FINANCIAL STATEMENT, SUPPLEMENTED BY A COPY OF THE MOST RECENT IRS 1040 FORM AND A RECENT PAYSTUB TO VERIFY EARNINGS. ASSESSMENT OF NEED MAY REQUIRE FURTHER VERIFICATION. NO FINANCIAL AID AWARD WILL EXCEED A FAMILY'S DEMONSTRATED NEED. C) IN AWARDING AID, THE COMMITTEE TAKES INTO ACCOUNT THE NUMBER, AGES AND SCHOOLS OF CHILDREN, ADDITIONAL DEPENDENTS, ALL SOURCES OF INCOME INCLUDING THE STUDENT'S OWN INCOME, DEBTS AND UNUSUAL EXPENSES, SPENDING PRIORITIES, AND WHETHER A SECOND WORKING PARENT IS CONTRIBUTING TO FAMILY INCOME WHERE POSSIBLE. D) IN CASES OF DIVORCE OR SEPARATION, CHESTNUT HILL REQUIRES A COMPLETED PARENTS' FINANCIAL STATEMENT FROM THE NON-CUSTODIAL PARENT, WHETHER OR NOT THE NON-CUSTODIAL PARENT SHARES IN THE COST OF EDUCATION. IF THE STUDENT RESIDES WITH A STEP-PARENT, CHESTNUT HILL REQUIRES A PFS FROM THE STEP-PARENT. 5) CHESTNUT HILL STRIVES TO MAKE AWARDS AS CLOSE TO DEMONSTRATED NEED (BASED ON THE PFS) AS POSSIBLE, BUT ALSO EXPECTS THAT EACH FAMILY WILL CONTRIBUTE AN APPROPRIATE PORTION OF TUITION AND FEES. A) EXCEPTIONS TO THIS ARE THE SPECIALLY ENDOWED NEIGHBORHOOD SCHOLARSHIP COMPETITION WINNERS IN GRADES SIX AND UP, WHOSE AID MAY CONSIST OF FULL TUITION, AS LONG AS THERE IS DEMONSTRATED FULL NEED. 6) AWARDS ARE MADE ON A ONE-YEAR BASIS AND REQUIRE RE-APPLICATION EVERY YEAR. FAMILIES ALREADY IN THE SCHOOL HAVE PRIORITY OVER NEW FAMILIES, AS LONG AS THEY MEET THE APPLICATION DEADLINE. CHESTNUT HILL IS COMMITTED TO SUPPORTING A STUDENT THROUGH GRADUATION AT THE SAME LEVEL OF FUNDING UNLESS THERE IS A CHANGE IN FINANCIAL CIRCUMSTANCES. A) AN AWARD IS CONTINGENT UPON THE FAMILY'S MEETING ITS FINANCIAL OBLIGATION TO CHESTNUT HILL FOR THE CURRENT YEAR. B) CHESTNUT HILL DOES NOT SET DIFFERENT STANDARDS OF BEHAVIOR OR ACADEMIC PERFORMANCE FOR FINANCIAL AID RECIPIENTS; HIGH ACADEMIC STANDARDS AND EXEMPLARY CITIZENSHIP ARE EXPECTED OF ALL STUDENTS. HOWEVER, STUDENTS ON ACADEMIC OR DISCIPLINARY PROBATION MAY LOSE THEIR ELIGIBILITY FOR FINANCIAL AID, AT THE DISCRETION OF THE HEAD OF SCHOOL. 7) CHESTNUT HILL HAS A FORMAL REVIEW PROCEDURE FOR FAMILIES WHO WISH TO REQUEST ADDITIONAL FUNDING, WHICH REQUIRES A WRITTEN APPEAL AND A SECOND MEETING OF THE FINANCIAL AID COMMITTEE. 8) CHESTNUT HILL SAFEGUARDS THE CONFIDENTIALITY OF ALL FINANCIAL INFORMATION SUPPLIED BY A FAMILY, AND SHALL REFRAIN FROM AND DISCOURAGE OTHERS FROM MAKING ANY PUBLIC ANNOUNCEMENT OF THE AMOUNT OF FINANCIAL AID AWARDED TO A STUDENT.","form_and_line_reference":"PART I, LINE 2:"}},"ScheduleJ":{"benefits_and_procedures":{"housing_allowance_or_residence":true,"health_or_social_club_dues":true,"substantiation_required":true,"written_policy_travel_and_entertainment":true},"compensation_process":{"compensation_committee":true,"independent_consultant":true,"compensation_survey_or_study":true,"board_or_committee_approval":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":false,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":false,"initial_contract_exception":false,"severance_payment":false,"supplemental_nonqualified_retirement_plan":true,"equity_based_compensation_arrangement":false},"compensation":[{"person_name":"FRANCIS P STEEL JR","title":"BD MBR,/HEADMASTER","base_compensation_filing_org":220753,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":0,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":17625,"deferred_compensation_related_orgs":0,"nontaxable_benefits_filing_org":69834,"nontaxable_benefits_related_orgs":0,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":308212,"total_compensation_related_orgs":0,"name":"FRANCIS P STEEL JR"},{"person_name":"PRISCILLA SANDS","title":"BD MBR/HD OF SCHL/SPRINGSI","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":116652,"compensation_based_on_related_orgs":440000,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":20019,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":9292,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":0,"total_compensation_related_orgs":585963,"name":"PRISCILLA SANDS"},{"person_name":"FRANK V ALOISE JR","title":"CHIEF FINANCIAL OFFICER","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":193073,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":15150,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":18345,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":0,"total_compensation_related_orgs":226568,"name":"FRANK V ALOISE JR"}],"supplemental_information":[{"form_and_line_reference":"PART I, LINE 1A","explanation":"THE SCHOOL PROVIDES A PERSONAL RESIDENCE FOR THE HEADMASTER. IN ADDITION, THE SCHOOL PAID DUES FOR THE PHILADELPHIA CRICKET CLUB. BOTH BENEFITS ARE MANDATORY PER THE HEAD OF SCHOOL'S EMPLOYMENT CONTRACT AND ARE CONSIDERED NECESSARY DUE TO THE AMOUNT OF BUSINESS-RELATED ENTERTAINING AND DEVELOPMENT PERFORMED BOTH ON AND OFF-SITE. THE VALUE OF THE HOUSING ALLOWANCE WAS $48,000. THERE WERE NO TRAVEL COSTS DURING THE CURRENT YEAR. THESE BENEFITS ARE NOT INCLUDED AS TAXABLE COMPENSATION."},{"form_and_line_reference":"PART I, LINE 4B","explanation":"PRISCILLA SANDS PARTICIPATES IN A NON-QUALIFIED PLAN. FOR THE CALENDAR YEAR, THE MAXIMUM AMOUNT ALLOWED, $17,000, WAS CONTRIBUTED TO THE PLAN ON HER BEHALF."}]},"ScheduleK":{"bond_issues":[{"bond_reference":"A","issuer_ein":232237287,"business_name_line1":"PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT","cusip_number":"717818Q50","date_issued":"2005-12-08T00:00:00","issue_price":8000000,"purpose":"ACQUISITION, CONSTRUCTION, RENOVATION AND FURNISHING OF SCHOOL FACILITIES","defeased":false,"on_behalf_of_issuer":false,"pool_financing":false,"name":"PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT"},{"bond_reference":"B","issuer_ein":232237287,"business_name_line1":"PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT","cusip_number":"7178182N7","date_issued":"2007-12-06T00:00:00","issue_price":8000000,"purpose":"ACQUISITION, CONSTRUCTION, RENOVATION AND FURNISHING OF SCHOOL FACILITIES","defeased":false,"on_behalf_of_issuer":false,"pool_financing":false,"name":"PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT"}],"bond_proceeds":[{"bond_reference":"A","total_proceeds":8000000,"issuance_costs_from_proceeds":131871,"capital_expenditures":7868129,"amount_retired":8000000,"substantial_completion_year":2006,"current_refunding":false,"advance_refunding":false,"final_allocation_made":true,"adequate_books_and_records_maintained":true},{"bond_reference":"B","total_proceeds":8000000,"issuance_costs_from_proceeds":162750,"capital_expenditures":7837250,"amount_retired":8000000,"substantial_completion_year":2009,"current_refunding":false,"advance_refunding":false,"final_allocation_made":true,"adequate_books_and_records_maintained":true}],"private_business_use":[{"bond_reference":"A","private_security_or_payment_test":false,"private_business_use_by_others_percentage":0.0,"private_business_concerning_ubi_percentage":0.0,"total_private_business_use_percentage":0.0,"management_contract":false,"research_agreements":false,"lease_arrangements":false,"partnership_or_llc_owning_property":false,"change_in_use_bond_financed_property":false,"nonqualified_bond_remediated_procedures":false},{"bond_reference":"B","private_security_or_payment_test":false,"private_business_use_by_others_percentage":0.0,"private_business_concerning_ubi_percentage":0.0,"total_private_business_use_percentage":0.0,"management_contract":false,"research_agreements":false,"lease_arrangements":false,"partnership_or_llc_owning_property":false,"change_in_use_bond_financed_property":false,"nonqualified_bond_remediated_procedures":false}],"arbitrage":[{"bond_reference":"A","gross_proceeds_invested":false,"gross_proceeds_invested_in_gic":false,"hedge_identified_in_books_and_records":false,"variable_rate_issue":true,"written_procedures_to_monitor_requirements":false,"rebate_not_due_yet":false,"exception_to_rebate":false,"no_rebate_due":true,"form_8038t_filed":false},{"bond_reference":"B","gross_proceeds_invested":false,"gross_proceeds_invested_in_gic":false,"hedge_identified_in_books_and_records":false,"variable_rate_issue":true,"written_procedures_to_monitor_requirements":false,"rebate_not_due_yet":false,"exception_to_rebate":false,"no_rebate_due":true,"form_8038t_filed":false}],"corrective_action_procedures":[{"bond_reference":"A","procedures_corrective_action":true},{"bond_reference":"B","procedures_corrective_action":true}],"supplemental_information":[{"identifier":"SCHEDULE K PART IV, ARBITRAGE, LINE 2C","form_and_line_reference":"DATE REBATE COMPUTATION PERFORMED","explanation":"ISSUER NAME: PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT DATE THE REBATE COMPUTATION WAS PERFORMED: 04/18/2013 ISSUER NAME: PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT DATE THE REBATE COMPUTATION WAS PERFORMED: 04/18/2013"},{"identifier":"PART III, LINE 9 AND PART IV, LINE 7","form_and_line_reference":"POST-ISSUANCE COMPLIANCE POLICIES","explanation":"ALL BONDS HAVE BEEN RETIRED UNDER THE TERMS OF THE MERGER WITH SPRINGSIDE CHESTNUT HILL ACADEMY. ALL POST-ISSUANCE BOND COMPLIANCE POLICIES WILL BE APPROVED BY THE SUCCESSOR ORGANIZATION."}]},"ScheduleM":{"policies":{"any_property_that_must_be_held":false,"review_process_unusual_noncash_gifts":true,"third_parties_used":true},"noncash_contributions":{"books_and_publications":{"reported":true,"revenue_reported_on_990":65313,"method_of_determining_revenues":"PURCHASE PRICE"},"securities_publicly_traded":{"reported":true,"revenue_reported_on_990":57898,"contribution_count":3,"method_of_determining_revenues":"NYSE"}},"supplemental_information":[{"identifier":"THIRD PARTY USE:","form_and_line_reference":"PART I, LINE 32B:","explanation":"THE ORGANIZATION USES BROKERAGE FIRM UBS TO RECEIVE ANY STOCK DONATIONS. ALL STOCK DONATIONS, UNLESS OTHERWISE RESTRICTED, ARE SOLD IMMEDIATELY."}]},"ScheduleN":{"termination_or_liquidation":{"assets_distributed":false,"liabilities_paid":true,"bonds_outstanding":true,"bond_liabilities_discharged":true,"required_to_notify_attorney_general":true,"attorney_general_notified":true},"successor_relationships":{"director_of_successor":true,"employee_of_successor":true,"owner_of_successor":false},"liquidations":[{"business_name_line1":"SPRINGSIDE CHESTNUT HILL ACADEMY","ein":231352681,"irc_section":"501(C)(3)","distribution_date":"2013-06-30T00:00:00","description":"TOTAL ASSETS OF THE SCHOOL WERE TRANSFERRED AS PART OF A PLANNED MERGER.","fair_market_value":30470607,"method_of_fmv_determination":"FAIR MARKET VALUE WAS DETERMINED USING BOTH HISTORICAL COST AND ESTABLISHED AUDIT METHODS FOR VALUING ASSETS.","address_line1":"500 W WILLOW GROVE AVENUE","city":"PHILADELPHIA","state":"PA","zip":"19118","name":"SPRINGSIDE CHESTNUT HILL ACADEMY","address":"500 W WILLOW GROVE AVENUE, PHILADELPHIA, PA, 19118"}],"supplemental_information":[{"explanation":"PART I, LINE 2E: ALL BOARD MEMBERS AND EMPLOYEES"},{"explanation":"PART I, LINE 2E: THE FILING ORGANIZATION AND ITS SUCCESSOR ORGANIZATION HAVE BEEN SISTER SCHOOLS FOR MANY YEARS AND HAVE BEEN ORGANIZED AND OVERSEEN BY A COMMON BOARD IN ANTICIPATION OF A PLANNED MERGER. ALL BOARD MEMBERS SIT ON BOTH THE FILING AND SUCCESSOR ORGANIZATION AND ALL EMPLOYEES WILL RETAIN THEIR POSITIONS AT THE SUCCESSOR ORGANIZATION."},{"explanation":"PART I, LINE 7C: THE ORGANIZATION TRANSFERRED ALL LIABILITIES PER THE PLANNED MERGER DOCUMENTS. THE ORGANIZATION REFUNDED ITS SEPARATE ISSUE BONDS UNDER THE GUIDANCE OF FEDERAL AND STATE LAW AND A NEW ISSUE UNDER THE SUCESSOR ORGANIZATION WAS RELEASED ACCORDING TO FEDERAL AND STATE REGULATIONS."}]},"ScheduleR":{"tax_exempt_organizations":[{"ein":232003194,"business_name_line1":"SPRINGSIDE CHESTNUT HILL CORPORATION","primary_activities":"FINANCIALLY SUPPORT EDUCATION FOR THE BENEFIT OF SPRINGSIDE AND CHA","exempt_code_section":"501(C)(3)","public_charity_status":"LINE 11A, I","controlled_organization":false,"legal_domicile_state":"PA","address_line1":"WILLOW GROVE AVENUE CHEROKEE STREET","city":"PHILADELPHIA","state":"PA","zip":"19118","name":"SPRINGSIDE CHESTNUT HILL CORPORATION","address":"WILLOW GROVE AVENUE CHEROKEE STREET, PHILADELPHIA, PA, 19118"},{"ein":231352681,"business_name_line1":"SPRINGSIDE CHESTNUT HILL ACADEMY","primary_activities":"EDUCATION","exempt_code_section":"501(C)(3)","public_charity_status":"LINE 2","controlled_organization":false,"legal_domicile_state":"PA","address_line1":"500 W WILLLOW GROVE AVENUE","city":"PHILADELPHIA","state":"PA","zip":"19118","name":"SPRINGSIDE CHESTNUT HILL ACADEMY","address":"500 W WILLLOW GROVE AVENUE, PHILADELPHIA, PA, 19118"}],"transaction_flags":{"dividends_from_related_organization":false,"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":false,"loans_or_guarantees_from_other_org":false,"loans_or_guarantees_to_other_org":false,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":true,"sharing_of_facilities":true,"sharing_of_paid_employees":true,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":false,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":true,"receipt_of_interest_annuities_rents_royalties":false,"other_transfer_from_other_org":false,"other_transfer_to_other_org":true}},"source_xml":"201430359349300118_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other 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MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. THE ORGANIZATION'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR 2011, 2010, AND 2009 REMAIN SUBJECT TO EXAMINATION BY THE IRS. THE ORGANIZATION'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES."},{"identifier":"PART XI, LINE 8 - OTHER ADJUSTMENTS:","explanation":"CHANGE IN VALUE OF SWAP AGREEMENT -750,040. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST -8,465. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 1,954. AMORTIZATION OF DISCOUNT ON SPLIT-INTEREST ARRANGEMENTS 4,841. ENDOWMENT RETURN -622,385. TOTAL TO SCHEDULE D, PART XI, LINE 8: -1,374,095."},{"identifier":"PART XII, LINE 2D - OTHER ADJUSTMENTS:","explanation":"FINANCIAL AID -2,379,665. CHANGE IN VALUE OF SWAP AGREEMENT -750,040. AMORTIZATION OF DISCOUNT ON SPLIT-INTEREST ARRANGEMENTS 4,841. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST -8,465. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 1,954. ENDOWMENT RETURN -622,385."},{"identifier":"PART XII, LINE 4B - OTHER ADJUSTMENTS:","explanation":"COST OF GOODS SOLD -94,270. RENTAL EXPENSES NETTED WITH RENTAL INCOME -21,929."},{"identifier":"PART XIII, LINE 2D - OTHER ADJUSTMENTS:","explanation":"COST OF GOODS SOLD 94,270. RENTAL EXPENSES NETTED WITH RENTAL INCOME 21,929."},{"identifier":"PART XIII, LINE 4B - OTHER ADJUSTMENTS:","explanation":"FINANCIAL AID 2,379,665."}]},"ScheduleE":{"policies":{"nondiscriminatory_policy_statement":true,"policy_statement_in_brochures":true,"policy_publicized_broadcast_media":true},"records":{"maintain_racial_composition_records":true,"maintain_scholarship_records":true,"maintain_copies_brochures":true,"maintain_copies_solicitations":true},"discrimination":{"students_rights_or_privileges":false,"admissions_policies":false,"employment_faculty_or_staff":false,"scholarships_or_financial_aid":false,"educational_policies":false,"use_of_facilities":false,"athletic_programs":false,"other_extracurricular_activities":false},"government_aid":{"received_government_financial_aid":true,"government_financial_aid_revoked":false},"compliance":{"compliance_with_rev_proc_75_50":true},"supplemental_information":[{"identifier":"EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION","form_and_line_reference":"SCHEDULE E, PART I, LINE 3","explanation":"THE SCHOOL'S NON DISCRIMINATORY POLICY WAS PUBLISHED IN LOCAL PAPERS IN A SHARED ADD WITH OTHER LOCAL INDEPENDENT SCHOOLS."},{"identifier":"EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE","form_and_line_reference":"SCHEDULE E, PART I, LINE 6","explanation":"CHESTNUT HILL ACADEMY ANNUALLY RECEIVES A GRANT FROM THE STATE OF PENNSYLVANIA FOR THE PURCHASE OF TEXT BOOKS AND OTHER EDUCATION SUPPLIES. THE STATE DIRECTLY PURCHASES THESE ITEMS BASED ON AN APPLICATION SENT IN BY CHESTNUT HILL ACADEMY."}]},"ScheduleI":{"grant_records_maintained":true,"reported_domestic_individual_grants":2379665,"reported_domestic_individual_grants_program_services":2379665,"individual_grants":[{"type":"FINANCIAL AID FOR TUITION","recipient_count":182,"cash":2379665}],"total_domestic_grants":2379665,"total_domestic_program_services":2379665,"detail_individual_grants_total":2379665,"detail_domestic_grants_total":2379665,"supplemental_information":[{"identifier":"PROCEDURE FOR MONITORING GRANTS IN THE U.S.:","form_and_line_reference":"PART I, LINE 2:","explanation":"SCHEDULE I, PART I, LINE 2: CHESTNUT HILL ACADEMY SUBSCRIBES TO THE NAIS PRINCIPLES OF GOOD PRACTICE IN FINANCIAL AID ADMINISTRATION AND HAS INCORPORATED THESE INTO ITS SCHOOL-WIDE FINANCIAL AID POLICY. THIS POLICY 1) SUPPORTS CHESTNUT HILL'S COMMITMENT TO ACCESS AND DIVERSITY; 2) ENABLES CHESTNUT HILL TO ENROLL THE BEST AND BRIGHTEST OF ITS APPLICANTS REGARDLESS OF NEED; 3) ENABLES CHESTNUT HILL TO MAINTAIN AND INCREASE ENROLLMENT DURING A PERIOD OF ECONOMIC UNCERTAINTY AND INTENSE COMPETITION AMONG SCHOOLS. 1) A FINANCIAL AID BUDGET IS SET EACH YEAR BY THE TRUSTEES OF CHESTNUT HILL ACADEMY USING INCOME FROM ENDOWED FUNDS AND OPERATING REVENUE. IN SETTING THE BUDGET, THE BOARD CONSIDERS THE LEVEL OF NEED ALREADY EXISTING IN THE SCHOOL BASED ON THE PREVIOUS YEAR'S ALLOCATIONS, AS WELL AS PROPOSED TUITION INCREASES. 2) CHESTNUT HILL STRIVES THROUGH ITS PUBLICATIONS AND FACE-TO-FACE CONTACTS TO PUBLICIZE AND EXPLAIN ITS FINANCIAL AID PROGRAM AND TO DISCLOSE ALL INFORMATION PERTAINING TO THE COST OF A CHESTNUT HILL EDUCATION. 3) ALLOCATION OF FINANCIAL AID FUNDS IS CARRIED OUT BY A COMMITTEE OF ADMISSION OFFICERS AND THE DIRECTOR OF FINANCE AND OPERATIONS; FILES ARE MAINTAINED BY THE ADMISSIONS ASSISTANT. 4) CHESTNUT HILL DOES NOT DISCRIMINATE IN ITS FINANCIAL AID ALLOCATIONS ON THE BASIS OF RACE, COLOR, RELIGION OR NATIONAL ORIGIN; CHESTNUT HILL DOES NOT USE FINANCIAL NEED AS A CONSIDERATION IN DETERMINING A STUDENT'S ELIGIBILITY FOR ADMISSION; THE SCHOOL USES A UNIFORM METHODOLOGY TO ASSESS ANNUALLY, IN A CONSISTENT AND EQUITABLE MANNER, EACH FAMILY'S ABILITY TO PAY FOR EDUCATION. A) CHESTNUT HILL RECOGNIZES THAT PRIMARY RESPONSIBILITY FOR FINANCING A STUDENT'S EDUCATION RESTS WITH THE FAMILY, AND THAT THE FAMILY WILL HAVE SOUGHT FUNDS FROM ALL SOURCES INCLUDING EMPLOYMENT, RELATIVES, ASSETS, AND THE ELLIS FOUNDATION (IF ELIGIBLE) IN ADDITION TO SEEKING AID FROM CHESTNUT HILL. B) ASSESSMENT OF NEED IS DETERMINED BY THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSS) IN PRINCETON, NEW JERSEY, FOLLOWING THE FAMILY'S SUBMISSION OF A COMPLETED PARENTS' FINANCIAL STATEMENT, SUPPLEMENTED BY A COPY OF THE MOST RECENT IRS 1040 FORM AND A RECENT PAYSTUB TO VERIFY EARNINGS. ASSESSMENT OF NEED MAY REQUIRE FURTHER VERIFICATION. NO FINANCIAL AID AWARD WILL EXCEED A FAMILY'S DEMONSTRATED NEED. C) IN AWARDING AID, THE COMMITTEE TAKES INTO ACCOUNT THE NUMBER, AGES AND SCHOOLS OF CHILDREN, ADDITIONAL DEPENDENTS, ALL SOURCES OF INCOME INCLUDING THE STUDENT'S OWN INCOME, DEBTS AND UNUSUAL EXPENSES, SPENDING PRIORITIES, AND WHETHER A SECOND WORKING PARENT IS CONTRIBUTING TO FAMILY INCOME WHERE POSSIBLE. D) IN CASES OF DIVORCE OR SEPARATION, CHESTNUT HILL REQUIRES A COMPLETED PARENTS' FINANCIAL STATEMENT FROM THE NON-CUSTODIAL PARENT, WHETHER OR NOT THE NON-CUSTODIAL PARENT SHARES IN THE COST OF EDUCATION. IF THE STUDENT RESIDES WITH A STEP-PARENT, CHESTNUT HILL REQUIRES A PFS FROM THE STEP-PARENT. 5) CHESTNUT HILL STRIVES TO MAKE AWARDS AS CLOSE TO DEMONSTRATED NEED (BASED ON THE PFS) AS POSSIBLE, BUT ALSO EXPECTS THAT EACH FAMILY WILL CONTRIBUTE AN APPROPRIATE PORTION OF TUITION AND FEES. A) EXCEPTIONS TO THIS ARE THE SPECIALLY ENDOWED NEIGHBORHOOD SCHOLARSHIP COMPETITION WINNERS IN GRADES SIX AND UP, WHOSE AID MAY CONSIST OF FULL TUITION, AS LONG AS THERE IS DEMONSTRATED FULL NEED. 6) AWARDS ARE MADE ON A ONE-YEAR BASIS AND REQUIRE RE-APPLICATION EVERY YEAR. FAMILIES ALREADY IN THE SCHOOL HAVE PRIORITY OVER NEW FAMILIES, AS LONG AS THEY MEET THE APPLICATION DEADLINE. CHESTNUT HILL IS COMMITTED TO SUPPORTING A STUDENT THROUGH GRADUATION AT THE SAME LEVEL OF FUNDING UNLESS THERE IS A CHANGE IN FINANCIAL CIRCUMSTANCES. A) AN AWARD IS CONTINGENT UPON THE FAMILY'S MEETING ITS FINANCIAL OBLIGATION TO CHESTNUT HILL FOR THE CURRENT YEAR. B) CHESTNUT HILL DOES NOT SET DIFFERENT STANDARDS OF BEHAVIOR OR ACADEMIC PERFORMANCE FOR FINANCIAL AID RECIPIENTS; HIGH ACADEMIC STANDARDS AND EXEMPLARY CITIZENSHIP ARE EXPECTED OF ALL STUDENTS. HOWEVER, STUDENTS ON ACADEMIC OR DISCIPLINARY PROBATION MAY LOSE THEIR ELIGIBILITY FOR FINANCIAL AID, AT THE DISCRETION OF THE HEAD OF SCHOOL. 7) CHESTNUT HILL HAS A FORMAL REVIEW PROCEDURE FOR FAMILIES WHO WISH TO REQUEST ADDITIONAL FUNDING, WHICH REQUIRES A WRITTEN APPEAL AND A SECOND MEETING OF THE FINANCIAL AID COMMITTEE. 8) CHESTNUT HILL SAFEGUARDS THE CONFIDENTIALITY OF ALL FINANCIAL INFORMATION SUPPLIED BY A FAMILY, AND SHALL REFRAIN FROM AND DISCOURAGE OTHERS FROM MAKING ANY PUBLIC ANNOUNCEMENT OF THE AMOUNT OF FINANCIAL AID AWARDED TO A STUDENT."}],"grant_monitoring":{"claims_monitoring_procedures":true,"requires_financial_reports":true,"requires_narrative_reports":false,"conducts_site_visits":false,"conducts_field_audits":false,"requires_grant_agreements":false,"may_suspend_future_funding":false,"may_require_repayment":false,"monitoring_description":"SCHEDULE I, PART I, LINE 2: CHESTNUT HILL ACADEMY SUBSCRIBES TO THE NAIS PRINCIPLES OF GOOD PRACTICE IN FINANCIAL AID ADMINISTRATION AND HAS INCORPORATED THESE INTO ITS SCHOOL-WIDE FINANCIAL AID POLICY. THIS POLICY 1) SUPPORTS CHESTNUT HILL'S COMMITMENT TO ACCESS AND DIVERSITY; 2) ENABLES CHESTNUT HILL TO ENROLL THE BEST AND BRIGHTEST OF ITS APPLICANTS REGARDLESS OF NEED; 3) ENABLES CHESTNUT HILL TO MAINTAIN AND INCREASE ENROLLMENT DURING A PERIOD OF ECONOMIC UNCERTAINTY AND INTENSE COMPETITION AMONG SCHOOLS. 1) A FINANCIAL AID BUDGET IS SET EACH YEAR BY THE TRUSTEES OF CHESTNUT HILL ACADEMY USING INCOME FROM ENDOWED FUNDS AND OPERATING REVENUE. IN SETTING THE BUDGET, THE BOARD CONSIDERS THE LEVEL OF NEED ALREADY EXISTING IN THE SCHOOL BASED ON THE PREVIOUS YEAR'S ALLOCATIONS, AS WELL AS PROPOSED TUITION INCREASES. 2) CHESTNUT HILL STRIVES THROUGH ITS PUBLICATIONS AND FACE-TO-FACE CONTACTS TO PUBLICIZE AND EXPLAIN ITS FINANCIAL AID PROGRAM AND TO DISCLOSE ALL INFORMATION PERTAINING TO THE COST OF A CHESTNUT HILL EDUCATION. 3) ALLOCATION OF FINANCIAL AID FUNDS IS CARRIED OUT BY A COMMITTEE OF ADMISSION OFFICERS AND THE DIRECTOR OF FINANCE AND OPERATIONS; FILES ARE MAINTAINED BY THE ADMISSIONS ASSISTANT. 4) CHESTNUT HILL DOES NOT DISCRIMINATE IN ITS FINANCIAL AID ALLOCATIONS ON THE BASIS OF RACE, COLOR, RELIGION OR NATIONAL ORIGIN; CHESTNUT HILL DOES NOT USE FINANCIAL NEED AS A CONSIDERATION IN DETERMINING A STUDENT'S ELIGIBILITY FOR ADMISSION; THE SCHOOL USES A UNIFORM METHODOLOGY TO ASSESS ANNUALLY, IN A CONSISTENT AND EQUITABLE MANNER, EACH FAMILY'S ABILITY TO PAY FOR EDUCATION. A) CHESTNUT HILL RECOGNIZES THAT PRIMARY RESPONSIBILITY FOR FINANCING A STUDENT'S EDUCATION RESTS WITH THE FAMILY, AND THAT THE FAMILY WILL HAVE SOUGHT FUNDS FROM ALL SOURCES INCLUDING EMPLOYMENT, RELATIVES, ASSETS, AND THE ELLIS FOUNDATION (IF ELIGIBLE) IN ADDITION TO SEEKING AID FROM CHESTNUT HILL. B) ASSESSMENT OF NEED IS DETERMINED BY THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSS) IN PRINCETON, NEW JERSEY, FOLLOWING THE FAMILY'S SUBMISSION OF A COMPLETED PARENTS' FINANCIAL STATEMENT, SUPPLEMENTED BY A COPY OF THE MOST RECENT IRS 1040 FORM AND A RECENT PAYSTUB TO VERIFY EARNINGS. ASSESSMENT OF NEED MAY REQUIRE FURTHER VERIFICATION. NO FINANCIAL AID AWARD WILL EXCEED A FAMILY'S DEMONSTRATED NEED. C) IN AWARDING AID, THE COMMITTEE TAKES INTO ACCOUNT THE NUMBER, AGES AND SCHOOLS OF CHILDREN, ADDITIONAL DEPENDENTS, ALL SOURCES OF INCOME INCLUDING THE STUDENT'S OWN INCOME, DEBTS AND UNUSUAL EXPENSES, SPENDING PRIORITIES, AND WHETHER A SECOND WORKING PARENT IS CONTRIBUTING TO FAMILY INCOME WHERE POSSIBLE. D) IN CASES OF DIVORCE OR SEPARATION, CHESTNUT HILL REQUIRES A COMPLETED PARENTS' FINANCIAL STATEMENT FROM THE NON-CUSTODIAL PARENT, WHETHER OR NOT THE NON-CUSTODIAL PARENT SHARES IN THE COST OF EDUCATION. IF THE STUDENT RESIDES WITH A STEP-PARENT, CHESTNUT HILL REQUIRES A PFS FROM THE STEP-PARENT. 5) CHESTNUT HILL STRIVES TO MAKE AWARDS AS CLOSE TO DEMONSTRATED NEED (BASED ON THE PFS) AS POSSIBLE, BUT ALSO EXPECTS THAT EACH FAMILY WILL CONTRIBUTE AN APPROPRIATE PORTION OF TUITION AND FEES. A) EXCEPTIONS TO THIS ARE THE SPECIALLY ENDOWED NEIGHBORHOOD SCHOLARSHIP COMPETITION WINNERS IN GRADES SIX AND UP, WHOSE AID MAY CONSIST OF FULL TUITION, AS LONG AS THERE IS DEMONSTRATED FULL NEED. 6) AWARDS ARE MADE ON A ONE-YEAR BASIS AND REQUIRE RE-APPLICATION EVERY YEAR. FAMILIES ALREADY IN THE SCHOOL HAVE PRIORITY OVER NEW FAMILIES, AS LONG AS THEY MEET THE APPLICATION DEADLINE. CHESTNUT HILL IS COMMITTED TO SUPPORTING A STUDENT THROUGH GRADUATION AT THE SAME LEVEL OF FUNDING UNLESS THERE IS A CHANGE IN FINANCIAL CIRCUMSTANCES. A) AN AWARD IS CONTINGENT UPON THE FAMILY'S MEETING ITS FINANCIAL OBLIGATION TO CHESTNUT HILL FOR THE CURRENT YEAR. B) CHESTNUT HILL DOES NOT SET DIFFERENT STANDARDS OF BEHAVIOR OR ACADEMIC PERFORMANCE FOR FINANCIAL AID RECIPIENTS; HIGH ACADEMIC STANDARDS AND EXEMPLARY CITIZENSHIP ARE EXPECTED OF ALL STUDENTS. HOWEVER, STUDENTS ON ACADEMIC OR DISCIPLINARY PROBATION MAY LOSE THEIR ELIGIBILITY FOR FINANCIAL AID, AT THE DISCRETION OF THE HEAD OF SCHOOL. 7) CHESTNUT HILL HAS A FORMAL REVIEW PROCEDURE FOR FAMILIES WHO WISH TO REQUEST ADDITIONAL FUNDING, WHICH REQUIRES A WRITTEN APPEAL AND A SECOND MEETING OF THE FINANCIAL AID COMMITTEE. 8) CHESTNUT HILL SAFEGUARDS THE CONFIDENTIALITY OF ALL FINANCIAL INFORMATION SUPPLIED BY A FAMILY, AND SHALL REFRAIN FROM AND DISCOURAGE OTHERS FROM MAKING ANY PUBLIC ANNOUNCEMENT OF THE AMOUNT OF FINANCIAL AID AWARDED TO A STUDENT.","form_and_line_reference":"PART I, LINE 2:"}},"ScheduleJ":{"benefits_and_procedures":{"housing_allowance_or_residence":true,"health_or_social_club_dues":true,"substantiation_required":true,"written_policy_travel_and_entertainment":true},"compensation_process":{"compensation_committee":true,"independent_consultant":true,"written_employment_contract":true,"compensation_survey_or_study":true,"board_or_committee_approval":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":false,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":false,"initial_contract_exception":false,"severance_payment":false,"supplemental_nonqualified_retirement_plan":false,"equity_based_compensation_arrangement":false},"compensation":[{"person_name":"FRANCIS P STEEL JR","base_compensation_filing_org":255452,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":0,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":22000,"deferred_compensation_related_orgs":0,"nontaxable_benefits_filing_org":15664,"nontaxable_benefits_related_orgs":0,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":293116,"total_compensation_related_orgs":0,"name":"FRANCIS P STEEL JR"},{"person_name":"PRISCILLA SANDS","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":554682,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":18437,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":6190,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":0,"total_compensation_related_orgs":579309,"name":"PRISCILLA SANDS"},{"person_name":"FRANK V ALOISE JR","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":181410,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":9512,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":18753,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":0,"total_compensation_related_orgs":209675,"name":"FRANK V ALOISE JR"}],"supplemental_information":[{"form_and_line_reference":"PART I, LINE 1A","explanation":"THE SCHOOL PROVIDES A PERSONAL RESIDENCE FOR THE HEADMASTER. IN ADDITION, THE SCHOOL PAID DUES FOR THE PHILADELPHIA CRICKET CLUB. BOTH BENEFITS ARE MANDATORY PER THE HEAD OF SCHOOL'S EMPLOYMENT CONTRACT AND ARE CONSIDERED NECESSARY DUE TO THE AMOUNT OF BUSINESS-RELATED ENTERTAINING AND DEVELOPMENT PERFORMED BOTH ON AND OFF-SITE. THESE BENEFITS ARE NOT INCLUDED AS TAXABLE COMPENSATION."}]},"ScheduleK":{"federal_tax_requirements_compliance":true,"bond_issues":[{"issuer_ein":232237287,"business_name_line1":"PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT","cusip_number":"717818Q50","date_issued":"2005-12-08T00:00:00","issue_price":8000000,"purpose":"ACQUISITION, CONSTRUCTION, RENOVATION AND FURNISHING OF SCHOOL FACILITIES","defeased":false,"on_behalf_of_issuer":false,"pool_financing":false,"name":"PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT"},{"issuer_ein":232237287,"business_name_line1":"PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT","cusip_number":"7178182N7","date_issued":"2007-12-06T00:00:00","issue_price":8000000,"purpose":"ACQUISITION, CONSTRUCTION, RENOVATION AND FURNISHING OF SCHOOL FACILITIES","defeased":false,"on_behalf_of_issuer":false,"pool_financing":false,"name":"PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT"}],"bond_proceeds":[{"total_proceeds":8000000,"issuance_costs_from_proceeds":131871,"capital_expenditures":7868129,"amount_retired":1000000,"substantial_completion_year":2006,"current_refunding":false,"advance_refunding":false,"final_allocation_made":true,"adequate_books_and_records_maintained":true},{"total_proceeds":8000000,"issuance_costs_from_proceeds":162750,"capital_expenditures":7837250,"amount_retired":600000,"substantial_completion_year":2009,"current_refunding":false,"advance_refunding":false,"final_allocation_made":true,"adequate_books_and_records_maintained":true}],"private_business_use":[{"private_business_use_by_others_percentage":0.0,"private_business_concerning_ubi_percentage":0.0,"total_private_business_use_percentage":0.0,"post_issuance_compliance_procedures":true,"management_contract":false,"research_agreements":false,"lease_arrangements":false,"partnership_or_llc_owning_property":false},{"private_business_use_by_others_percentage":0.0,"private_business_concerning_ubi_percentage":0.0,"total_private_business_use_percentage":0.0,"post_issuance_compliance_procedures":true,"management_contract":false,"research_agreements":false,"lease_arrangements":false,"partnership_or_llc_owning_property":false}],"arbitrage":[{"gross_proceeds_invested":false,"gross_proceeds_invested_in_gic":false,"hedge_identified_in_books_and_records":false,"variable_rate_issue":true,"exception_to_rebate":false,"form_8038t_filed":false},{"gross_proceeds_invested":false,"gross_proceeds_invested_in_gic":false,"hedge_identified_in_books_and_records":false,"variable_rate_issue":true,"exception_to_rebate":false,"form_8038t_filed":false}]},"ScheduleM":{"policies":{"any_property_that_must_be_held":false,"review_process_unusual_noncash_gifts":true,"third_parties_used":false},"noncash_contributions":{"books_and_publications":{"reported":true,"revenue_reported_on_990":58896,"method_of_determining_revenues":"FAIR MARKET VALUE"},"securities_publicly_traded":{"reported":true,"revenue_reported_on_990":57222,"contribution_count":3,"method_of_determining_revenues":"FAIR MARKET VALUE"}}},"ScheduleR":{"tax_exempt_organizations":[{"ein":232003194,"business_name_line1":"SPRINGSIDE CHESTNUT HILL CORPORATION","primary_activities":"FINANCIALLY SUPPORT EDUCATION FOR THE BENEFIT OF SPRINGSIDE AND CHA","exempt_code_section":"501(C)(3)","public_charity_status":"LINE 11A, I","controlled_organization":false,"legal_domicile_state":"PA","address_line1":"WILLOW GROVE AVENUE CHEROKEE STREET","city":"PHILADELPHIA","state":"PA","zip":"19118","name":"SPRINGSIDE CHESTNUT HILL CORPORATION","address":"WILLOW GROVE AVENUE CHEROKEE STREET, PHILADELPHIA, PA, 19118"},{"ein":231352681,"business_name_line1":"SPRINGSIDE SCHOOL","primary_activities":"EDUCATION","exempt_code_section":"501(C)(3)","public_charity_status":"LINE 2","controlled_organization":false,"legal_domicile_state":"PA","address_line1":"8000 CHEROKEE STREET","city":"PHILADELPHIA","state":"PA","zip":"19118","name":"SPRINGSIDE SCHOOL","address":"8000 CHEROKEE STREET, PHILADELPHIA, PA, 19118"}],"transaction_flags":{"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":false,"loans_or_guarantees_from_other_org":false,"loans_or_guarantees_to_other_org":false,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":true,"sharing_of_facilities":true,"sharing_of_paid_employees":true,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":false,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":false,"receipt_of_interest_annuities_rents_royalties":false,"other_transfer_from_other_org":false,"other_transfer_to_other_org":false}},"source_xml":"201330369349300538_public.xml"},{"Organization":{"Hours":[0],"Total Compensation":[0],"Direct compensation":[0],"Other compensation":[0]},"Basic":{"mission":"To promote education, instruction and training of children and young people.","primary_activities":"Private school instruction for grades pre-k through 12 for approximately 492 students.","year":2010,"name":"CHESTNUT HILL ACADEMY","phone":"2152474700","website":"CHESTNUTHILLACADEMY.ORG","type":"990","principal_officer":"FRANK V ALOISE JR","year_formation":1861,"state_legal_domicile":"PA","total_volunteers":110,"tax_period_begin":"2010-07-01T00:00:00","tax_period_end":"2011-06-30T00:00:00","address":"500 W WILLOW GROVE AVE, PHILADELPHIA, PA, 19118, USA","city":"PHILADELPHIA","state":"PA","country":"USA","zip_code":"19118"},"Governance":{"501c3 determination":true,"Number of voting members":35,"Number of independent voting members":34,"Number of employees total":211,"Total Gross UBI":0,"Net unrelated business taxable income":0,"Number of employees":211,"Prohibited tax shelter transactions":false,"Taxable party notification":false,"Funds to pay premiums":false,"Premiums Paid":false,"Family or business relationship":true,"Delegation of management duties":false,"Conflict of interest policy":true,"Whistle blower policy":true,"Compensation process for CEO":true,"Compensation process for other employees":true,"Changes to organizing documents":false,"Material diversion or misuse":false,"Members or stockholders":false,"Election of board members":false,"Decisions subject to approval":false,"Minutes of governing body":true,"Local chapters":false,"Form 990 provided to governing body":false,"Document retention policy":true,"Investment in joint venture":false,"Independent audit financial statements":false,"Consolidated audit financial statements":true,"Accountant compile or review":false,"Financial statements audited by independent accountant":true,"Audit committee":true,"Federal grant audit required":false,"Political activities":false,"Donor advised 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OFFICER","average_hours_per_week":10.0,"average_hours_per_week_related_org":40.0,"reportable_comp_from_org":0,"reportable_comp_from_related_orgs":193073,"other_compensation":33495,"officer":true},{"title":"DIRECTOR OF ATHLETICS","average_hours_per_week":50.0,"reportable_comp_from_org":111909,"reportable_comp_from_related_orgs":0,"other_compensation":19721,"highest_compensated_employee":true},{"title":"HEAD OF LOWER SCHOOL, BOYS","average_hours_per_week":50.0,"reportable_comp_from_org":110543,"reportable_comp_from_related_orgs":0,"other_compensation":14100,"highest_compensated_employee":true},{"title":"CHAIR, ENGINEERING AND ROB","average_hours_per_week":50.0,"reportable_comp_from_org":113750,"reportable_comp_from_related_orgs":0,"other_compensation":8516,"highest_compensated_employee":true}]},"ScheduleA":{"public_charity_status":{"school_170b1_aii":true}},"ScheduleB":{"attached":true,"required":true},"ScheduleD":{"endowment_funds":{"current_year":{"beginning_year_balance":21303230,"contributions":12439,"investment_earnings_or_losses":2421066,"other_expenditures":2796398,"administrative_expenses":20940337},"current_year_minus1":{"beginning_year_balance":23407679,"contributions":641851,"investment_earnings_or_losses":-594683,"other_expenditures":2151617,"end_year_balance":21303230},"current_year_minus2":{"beginning_year_balance":19567980,"contributions":2452418,"investment_earnings_or_losses":4662646,"other_expenditures":3275365,"end_year_balance":23407679},"current_year_minus3":{"beginning_year_balance":19267281,"contributions":1007860,"investment_earnings_or_losses":3080946,"other_expenditures":3788107,"end_year_balance":19567980},"current_year_minus4":{"beginning_year_balance":30650644,"contributions":103799,"investment_earnings_or_losses":-7127833,"other_expenditures":4359329,"end_year_balance":19267281},"board_designated_eoy_percentage":0.0,"permanent_endowment_eoy_percentage":0.0,"term_endowment_eoy_percentage":0.0,"held_by_unrelated_organizations":true,"held_by_related_organizations":false},"land_buildings_equipment":{"total_book_value":0},"other_liabilities":{"footnote_text":true},"revenue_reconciliation":{"total_revenue_audited_financial_statements":14229345,"net_unrealized_gains_investments":-121294,"other_revenue":285036,"revenue_not_reported":163742,"revenue_subtotal":14065603,"investment_expenses_not_included":36602,"other_revenues_not_included":-118187,"revenue_not_reported_financial_statement":-81585,"total_revenue_per_990":13984018},"expense_reconciliation":{"total_expenses_audited_financial_statements":10491137,"other_expenses_included":118187,"expenses_not_reported":118187,"expenses_subtotal":10372950,"investment_expenses_not_included":36602,"other_expenses_not_included":7181248,"expenses_not_reported_financial_statement":7217850,"total_expenses_per_990":17590800},"supplemental_information":[{"identifier":"DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS:","explanation":"THE NET INCOME FROM ENDOWMENT FUNDS, SUBJECT TO THE SCHOOL'S AUTHORIZED SPENDING POLICY, WILL BE USED FOR FINANCIAL AID, FACULTY AND STAFF SALARIES, FACULTY DEVELOPMENT, ATHLETICS, OTHER SCHOOL ACTIVITIES AND GENERAL OPERATIONS OF THE SCHOOL BASED ON DONOR STIPULATIONS. ALL ENDOWMENT FUNDS WERE TRANSFERRED TO THE SUCCESSOR ORGANIZATION WITH ALL STIPULATIONS AND RESTRICTIONS IN PLACE. THE USES FOR THE ENDOWMENT FUNDS, AS STATED ABOVE, WILL REMAIN IN EFFECT."},{"identifier":"DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:","explanation":"THE ORGANIZATION 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 ORGANIZATION'S FEDERAL EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURNS FOR 2012, 2011, AND 2010 REMAIN SUBJECT TO EXAMINATION BY THE IRS. THE ORGANIZATION'S POLICY IS TO RECOGNIZE INTEREST RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES."},{"identifier":"PART XI, LINE 2D - OTHER ADJUSTMENTS:","explanation":"FINANCIAL AID -2,548,200. AMORTIZATION OF DISCOUNT ON SPLIT-INTEREST ARRANGEMENTS 4,408. CHANGE IN VALUE OF BENEFICIAL INTEREST IN CHARITABLE TRUST -4,456. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 10,686. ENDOWMENT RETURN 3,151,964. LOSS ON DEBT EXTINGUISHMENT -258,121. TUITION REFUND -71,245."},{"identifier":"PART XI, LINE 4B - OTHER ADJUSTMENTS:","explanation":"COST OF GOODS SOLD -95,070. RENTAL EXPENSES NETTED WITH RENTAL INCOME -23,117."},{"identifier":"PART XII, LINE 2D - OTHER ADJUSTMENTS:","explanation":"COST OF GOODS SOLD 95,070. RENTAL EXPENSES NETTED WITH RENTAL INCOME 23,117."},{"identifier":"PART XII, LINE 4B - OTHER ADJUSTMENTS:","explanation":"FINANCIAL AID 2,548,200. LOSS ON DEBT EXTINGUISHMENT 258,121. PLANT OPERATIONS ALLOCATED FROM SPRINGSIDE CHESTNUT HILL ACADEMY 4,303,682. TUITION REFUND 71,245."}]},"ScheduleE":{"policies":{"nondiscriminatory_policy_statement":true,"policy_statement_in_brochures":true,"policy_publicized_broadcast_media":true},"records":{"maintain_racial_composition_records":true,"maintain_scholarship_records":true,"maintain_copies_brochures":true,"maintain_copies_solicitations":true},"discrimination":{"students_rights_or_privileges":false,"admissions_policies":false,"employment_faculty_or_staff":false,"scholarships_or_financial_aid":false,"educational_policies":false,"use_of_facilities":false,"athletic_programs":false,"other_extracurricular_activities":false},"government_aid":{"received_government_financial_aid":true,"government_financial_aid_revoked":false},"compliance":{"compliance_with_rev_proc_75_50":true},"supplemental_information":[{"identifier":"EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION","form_and_line_reference":"SCHEDULE E, PART I, LINE 3","explanation":"THE SCHOOL'S NON-DISCRIMINATORY POLICY WAS PUBLISHED IN LOCAL PAPERS IN A SHARED AD WITH OTHER LOCAL INDEPENDENT SCHOOLS."},{"identifier":"EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE","form_and_line_reference":"SCHEDULE E, PART I, LINE 6","explanation":"CHESTNUT HILL ACADEMY ANNUALLY RECEIVES A GRANT FROM THE STATE OF PENNSYLVANIA FOR THE PURCHASE OF TEXT BOOKS AND OTHER EDUCATION SUPPLIES. THE STATE DIRECTLY PURCHASES THESE ITEMS BASED ON AN APPLICATION SENT IN BY CHESTNUT HILL ACADEMY."}]},"ScheduleI":{"grant_records_maintained":true,"reported_domestic_individual_grants":2548200,"reported_domestic_individual_grants_program_services":2548200,"individual_grants":[{"type":"FINANCIAL AID FOR TUITION","recipient_count":182,"cash":2548200}],"total_domestic_grants":2548200,"total_domestic_program_services":2548200,"detail_individual_grants_total":2548200,"detail_domestic_grants_total":2548200,"supplemental_information":[{"identifier":"PROCEDURE FOR MONITORING GRANTS IN THE U.S.:","form_and_line_reference":"PART I, LINE 2:","explanation":"SCHEDULE I, PART I, LINE 2: CHESTNUT HILL ACADEMY SUBSCRIBES TO THE NAIS PRINCIPLES OF GOOD PRACTICE IN FINANCIAL AID ADMINISTRATION AND HAS INCORPORATED THESE INTO ITS SCHOOL-WIDE FINANCIAL AID POLICY. THIS POLICY 1) SUPPORTS CHESTNUT HILL'S COMMITMENT TO ACCESS AND DIVERSITY; 2) ENABLES CHESTNUT HILL TO ENROLL THE BEST AND BRIGHTEST OF ITS APPLICANTS REGARDLESS OF NEED; 3) ENABLES CHESTNUT HILL TO MAINTAIN AND INCREASE ENROLLMENT DURING A PERIOD OF ECONOMIC UNCERTAINTY AND INTENSE COMPETITION AMONG SCHOOLS. 1) A FINANCIAL AID BUDGET IS SET EACH YEAR BY THE TRUSTEES OF CHESTNUT HILL ACADEMY USING INCOME FROM ENDOWED FUNDS AND OPERATING REVENUE. IN SETTING THE BUDGET, THE BOARD CONSIDERS THE LEVEL OF NEED ALREADY EXISTING IN THE SCHOOL BASED ON THE PREVIOUS YEAR'S ALLOCATIONS, AS WELL AS PROPOSED TUITION INCREASES. 2) CHESTNUT HILL STRIVES THROUGH ITS PUBLICATIONS AND FACE-TO-FACE CONTACTS TO PUBLICIZE AND EXPLAIN ITS FINANCIAL AID PROGRAM AND TO DISCLOSE ALL INFORMATION PERTAINING TO THE COST OF A CHESTNUT HILL EDUCATION. 3) ALLOCATION OF FINANCIAL AID FUNDS IS CARRIED OUT BY A COMMITTEE OF ADMISSION OFFICERS AND THE DIRECTOR OF FINANCE AND OPERATIONS; FILES ARE MAINTAINED BY THE ADMISSIONS ASSISTANT. 4) CHESTNUT HILL DOES NOT DISCRIMINATE IN ITS FINANCIAL AID ALLOCATIONS ON THE BASIS OF RACE, COLOR, RELIGION OR NATIONAL ORIGIN; CHESTNUT HILL DOES NOT USE FINANCIAL NEED AS A CONSIDERATION IN DETERMINING A STUDENT'S ELIGIBILITY FOR ADMISSION; THE SCHOOL USES A UNIFORM METHODOLOGY TO ASSESS ANNUALLY, IN A CONSISTENT AND EQUITABLE MANNER, EACH FAMILY'S ABILITY TO PAY FOR EDUCATION. A) CHESTNUT HILL RECOGNIZES THAT PRIMARY RESPONSIBILITY FOR FINANCING A STUDENT'S EDUCATION RESTS WITH THE FAMILY, AND THAT THE FAMILY WILL HAVE SOUGHT FUNDS FROM ALL SOURCES INCLUDING EMPLOYMENT, RELATIVES, ASSETS, AND THE ELLIS FOUNDATION (IF ELIGIBLE) IN ADDITION TO SEEKING AID FROM CHESTNUT HILL. B) ASSESSMENT OF NEED IS DETERMINED BY THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSS) IN PRINCETON, NEW JERSEY, FOLLOWING THE FAMILY'S SUBMISSION OF A COMPLETED PARENTS' FINANCIAL STATEMENT, SUPPLEMENTED BY A COPY OF THE MOST RECENT IRS 1040 FORM AND A RECENT PAYSTUB TO VERIFY EARNINGS. ASSESSMENT OF NEED MAY REQUIRE FURTHER VERIFICATION. NO FINANCIAL AID AWARD WILL EXCEED A FAMILY'S DEMONSTRATED NEED. C) IN AWARDING AID, THE COMMITTEE TAKES INTO ACCOUNT THE NUMBER, AGES AND SCHOOLS OF CHILDREN, ADDITIONAL DEPENDENTS, ALL SOURCES OF INCOME INCLUDING THE STUDENT'S OWN INCOME, DEBTS AND UNUSUAL EXPENSES, SPENDING PRIORITIES, AND WHETHER A SECOND WORKING PARENT IS CONTRIBUTING TO FAMILY INCOME WHERE POSSIBLE. D) IN CASES OF DIVORCE OR SEPARATION, CHESTNUT HILL REQUIRES A COMPLETED PARENTS' FINANCIAL STATEMENT FROM THE NON-CUSTODIAL PARENT, WHETHER OR NOT THE NON-CUSTODIAL PARENT SHARES IN THE COST OF EDUCATION. IF THE STUDENT RESIDES WITH A STEP-PARENT, CHESTNUT HILL REQUIRES A PFS FROM THE STEP-PARENT. 5) CHESTNUT HILL STRIVES TO MAKE AWARDS AS CLOSE TO DEMONSTRATED NEED (BASED ON THE PFS) AS POSSIBLE, BUT ALSO EXPECTS THAT EACH FAMILY WILL CONTRIBUTE AN APPROPRIATE PORTION OF TUITION AND FEES. A) EXCEPTIONS TO THIS ARE THE SPECIALLY ENDOWED NEIGHBORHOOD SCHOLARSHIP COMPETITION WINNERS IN GRADES SIX AND UP, WHOSE AID MAY CONSIST OF FULL TUITION, AS LONG AS THERE IS DEMONSTRATED FULL NEED. 6) AWARDS ARE MADE ON A ONE-YEAR BASIS AND REQUIRE RE-APPLICATION EVERY YEAR. FAMILIES ALREADY IN THE SCHOOL HAVE PRIORITY OVER NEW FAMILIES, AS LONG AS THEY MEET THE APPLICATION DEADLINE. CHESTNUT HILL IS COMMITTED TO SUPPORTING A STUDENT THROUGH GRADUATION AT THE SAME LEVEL OF FUNDING UNLESS THERE IS A CHANGE IN FINANCIAL CIRCUMSTANCES. A) AN AWARD IS CONTINGENT UPON THE FAMILY'S MEETING ITS FINANCIAL OBLIGATION TO CHESTNUT HILL FOR THE CURRENT YEAR. B) CHESTNUT HILL DOES NOT SET DIFFERENT STANDARDS OF BEHAVIOR OR ACADEMIC PERFORMANCE FOR FINANCIAL AID RECIPIENTS; HIGH ACADEMIC STANDARDS AND EXEMPLARY CITIZENSHIP ARE EXPECTED OF ALL STUDENTS. HOWEVER, STUDENTS ON ACADEMIC OR DISCIPLINARY PROBATION MAY LOSE THEIR ELIGIBILITY FOR FINANCIAL AID, AT THE DISCRETION OF THE HEAD OF SCHOOL. 7) CHESTNUT HILL HAS A FORMAL REVIEW PROCEDURE FOR FAMILIES WHO WISH TO REQUEST ADDITIONAL FUNDING, WHICH REQUIRES A WRITTEN APPEAL AND A SECOND MEETING OF THE FINANCIAL AID COMMITTEE. 8) CHESTNUT HILL SAFEGUARDS THE CONFIDENTIALITY OF ALL FINANCIAL INFORMATION SUPPLIED BY A FAMILY, AND SHALL REFRAIN FROM AND DISCOURAGE OTHERS FROM MAKING ANY PUBLIC ANNOUNCEMENT OF THE AMOUNT OF FINANCIAL AID AWARDED TO A STUDENT."}],"grant_monitoring":{"claims_monitoring_procedures":true,"requires_financial_reports":true,"requires_narrative_reports":false,"conducts_site_visits":false,"conducts_field_audits":false,"requires_grant_agreements":false,"may_suspend_future_funding":false,"may_require_repayment":false,"monitoring_description":"SCHEDULE I, PART I, LINE 2: CHESTNUT HILL ACADEMY SUBSCRIBES TO THE NAIS PRINCIPLES OF GOOD PRACTICE IN FINANCIAL AID ADMINISTRATION AND HAS INCORPORATED THESE INTO ITS SCHOOL-WIDE FINANCIAL AID POLICY. THIS POLICY 1) SUPPORTS CHESTNUT HILL'S COMMITMENT TO ACCESS AND DIVERSITY; 2) ENABLES CHESTNUT HILL TO ENROLL THE BEST AND BRIGHTEST OF ITS APPLICANTS REGARDLESS OF NEED; 3) ENABLES CHESTNUT HILL TO MAINTAIN AND INCREASE ENROLLMENT DURING A PERIOD OF ECONOMIC UNCERTAINTY AND INTENSE COMPETITION AMONG SCHOOLS. 1) A FINANCIAL AID BUDGET IS SET EACH YEAR BY THE TRUSTEES OF CHESTNUT HILL ACADEMY USING INCOME FROM ENDOWED FUNDS AND OPERATING REVENUE. IN SETTING THE BUDGET, THE BOARD CONSIDERS THE LEVEL OF NEED ALREADY EXISTING IN THE SCHOOL BASED ON THE PREVIOUS YEAR'S ALLOCATIONS, AS WELL AS PROPOSED TUITION INCREASES. 2) CHESTNUT HILL STRIVES THROUGH ITS PUBLICATIONS AND FACE-TO-FACE CONTACTS TO PUBLICIZE AND EXPLAIN ITS FINANCIAL AID PROGRAM AND TO DISCLOSE ALL INFORMATION PERTAINING TO THE COST OF A CHESTNUT HILL EDUCATION. 3) ALLOCATION OF FINANCIAL AID FUNDS IS CARRIED OUT BY A COMMITTEE OF ADMISSION OFFICERS AND THE DIRECTOR OF FINANCE AND OPERATIONS; FILES ARE MAINTAINED BY THE ADMISSIONS ASSISTANT. 4) CHESTNUT HILL DOES NOT DISCRIMINATE IN ITS FINANCIAL AID ALLOCATIONS ON THE BASIS OF RACE, COLOR, RELIGION OR NATIONAL ORIGIN; CHESTNUT HILL DOES NOT USE FINANCIAL NEED AS A CONSIDERATION IN DETERMINING A STUDENT'S ELIGIBILITY FOR ADMISSION; THE SCHOOL USES A UNIFORM METHODOLOGY TO ASSESS ANNUALLY, IN A CONSISTENT AND EQUITABLE MANNER, EACH FAMILY'S ABILITY TO PAY FOR EDUCATION. A) CHESTNUT HILL RECOGNIZES THAT PRIMARY RESPONSIBILITY FOR FINANCING A STUDENT'S EDUCATION RESTS WITH THE FAMILY, AND THAT THE FAMILY WILL HAVE SOUGHT FUNDS FROM ALL SOURCES INCLUDING EMPLOYMENT, RELATIVES, ASSETS, AND THE ELLIS FOUNDATION (IF ELIGIBLE) IN ADDITION TO SEEKING AID FROM CHESTNUT HILL. B) ASSESSMENT OF NEED IS DETERMINED BY THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSS) IN PRINCETON, NEW JERSEY, FOLLOWING THE FAMILY'S SUBMISSION OF A COMPLETED PARENTS' FINANCIAL STATEMENT, SUPPLEMENTED BY A COPY OF THE MOST RECENT IRS 1040 FORM AND A RECENT PAYSTUB TO VERIFY EARNINGS. ASSESSMENT OF NEED MAY REQUIRE FURTHER VERIFICATION. NO FINANCIAL AID AWARD WILL EXCEED A FAMILY'S DEMONSTRATED NEED. C) IN AWARDING AID, THE COMMITTEE TAKES INTO ACCOUNT THE NUMBER, AGES AND SCHOOLS OF CHILDREN, ADDITIONAL DEPENDENTS, ALL SOURCES OF INCOME INCLUDING THE STUDENT'S OWN INCOME, DEBTS AND UNUSUAL EXPENSES, SPENDING PRIORITIES, AND WHETHER A SECOND WORKING PARENT IS CONTRIBUTING TO FAMILY INCOME WHERE POSSIBLE. D) IN CASES OF DIVORCE OR SEPARATION, CHESTNUT HILL REQUIRES A COMPLETED PARENTS' FINANCIAL STATEMENT FROM THE NON-CUSTODIAL PARENT, WHETHER OR NOT THE NON-CUSTODIAL PARENT SHARES IN THE COST OF EDUCATION. IF THE STUDENT RESIDES WITH A STEP-PARENT, CHESTNUT HILL REQUIRES A PFS FROM THE STEP-PARENT. 5) CHESTNUT HILL STRIVES TO MAKE AWARDS AS CLOSE TO DEMONSTRATED NEED (BASED ON THE PFS) AS POSSIBLE, BUT ALSO EXPECTS THAT EACH FAMILY WILL CONTRIBUTE AN APPROPRIATE PORTION OF TUITION AND FEES. A) EXCEPTIONS TO THIS ARE THE SPECIALLY ENDOWED NEIGHBORHOOD SCHOLARSHIP COMPETITION WINNERS IN GRADES SIX AND UP, WHOSE AID MAY CONSIST OF FULL TUITION, AS LONG AS THERE IS DEMONSTRATED FULL NEED. 6) AWARDS ARE MADE ON A ONE-YEAR BASIS AND REQUIRE RE-APPLICATION EVERY YEAR. FAMILIES ALREADY IN THE SCHOOL HAVE PRIORITY OVER NEW FAMILIES, AS LONG AS THEY MEET THE APPLICATION DEADLINE. CHESTNUT HILL IS COMMITTED TO SUPPORTING A STUDENT THROUGH GRADUATION AT THE SAME LEVEL OF FUNDING UNLESS THERE IS A CHANGE IN FINANCIAL CIRCUMSTANCES. A) AN AWARD IS CONTINGENT UPON THE FAMILY'S MEETING ITS FINANCIAL OBLIGATION TO CHESTNUT HILL FOR THE CURRENT YEAR. B) CHESTNUT HILL DOES NOT SET DIFFERENT STANDARDS OF BEHAVIOR OR ACADEMIC PERFORMANCE FOR FINANCIAL AID RECIPIENTS; HIGH ACADEMIC STANDARDS AND EXEMPLARY CITIZENSHIP ARE EXPECTED OF ALL STUDENTS. HOWEVER, STUDENTS ON ACADEMIC OR DISCIPLINARY PROBATION MAY LOSE THEIR ELIGIBILITY FOR FINANCIAL AID, AT THE DISCRETION OF THE HEAD OF SCHOOL. 7) CHESTNUT HILL HAS A FORMAL REVIEW PROCEDURE FOR FAMILIES WHO WISH TO REQUEST ADDITIONAL FUNDING, WHICH REQUIRES A WRITTEN APPEAL AND A SECOND MEETING OF THE FINANCIAL AID COMMITTEE. 8) CHESTNUT HILL SAFEGUARDS THE CONFIDENTIALITY OF ALL FINANCIAL INFORMATION SUPPLIED BY A FAMILY, AND SHALL REFRAIN FROM AND DISCOURAGE OTHERS FROM MAKING ANY PUBLIC ANNOUNCEMENT OF THE AMOUNT OF FINANCIAL AID AWARDED TO A STUDENT.","form_and_line_reference":"PART I, LINE 2:"}},"ScheduleJ":{"benefits_and_procedures":{"housing_allowance_or_residence":true,"health_or_social_club_dues":true,"substantiation_required":true,"written_policy_travel_and_entertainment":true},"compensation_process":{"compensation_committee":true,"independent_consultant":true,"compensation_survey_or_study":true,"board_or_committee_approval":true},"compensation_arrangements":{"compensation_based_on_revenue_filing_org":false,"compensation_based_on_revenue_related_orgs":false,"compensation_based_on_net_earnings_filing_org":false,"compensation_based_on_net_earnings_related_orgs":false,"nonfixed_payments":false,"initial_contract_exception":false,"severance_payment":false,"supplemental_nonqualified_retirement_plan":true,"equity_based_compensation_arrangement":false},"compensation":[{"person_name":"FRANCIS P STEEL JR","title":"BD MBR,/HEADMASTER","base_compensation_filing_org":220753,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":0,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":17625,"deferred_compensation_related_orgs":0,"nontaxable_benefits_filing_org":69834,"nontaxable_benefits_related_orgs":0,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":308212,"total_compensation_related_orgs":0,"name":"FRANCIS P STEEL JR"},{"person_name":"PRISCILLA SANDS","title":"BD MBR/HD OF SCHL/SPRINGSI","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":116652,"compensation_based_on_related_orgs":440000,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":20019,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":9292,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":0,"total_compensation_related_orgs":585963,"name":"PRISCILLA SANDS"},{"person_name":"FRANK V ALOISE JR","title":"CHIEF FINANCIAL OFFICER","base_compensation_filing_org":0,"bonus_filing_org":0,"bonus_related_orgs":0,"compensation_based_on_related_orgs":193073,"comp_report_prior_990_filing_org":0,"comp_report_prior_990_related_orgs":0,"deferred_compensation_filing_org":0,"deferred_compensation_related_orgs":15150,"nontaxable_benefits_filing_org":0,"nontaxable_benefits_related_orgs":18345,"other_compensation_filing_org":0,"other_compensation_related_orgs":0,"total_compensation_filing_org":0,"total_compensation_related_orgs":226568,"name":"FRANK V ALOISE JR"}],"supplemental_information":[{"form_and_line_reference":"PART I, LINE 1A","explanation":"THE SCHOOL PROVIDES A PERSONAL RESIDENCE FOR THE HEADMASTER. IN ADDITION, THE SCHOOL PAID DUES FOR THE PHILADELPHIA CRICKET CLUB. BOTH BENEFITS ARE MANDATORY PER THE HEAD OF SCHOOL'S EMPLOYMENT CONTRACT AND ARE CONSIDERED NECESSARY DUE TO THE AMOUNT OF BUSINESS-RELATED ENTERTAINING AND DEVELOPMENT PERFORMED BOTH ON AND OFF-SITE. THE VALUE OF THE HOUSING ALLOWANCE WAS $48,000. THERE WERE NO TRAVEL COSTS DURING THE CURRENT YEAR. THESE BENEFITS ARE NOT INCLUDED AS TAXABLE COMPENSATION."},{"form_and_line_reference":"PART I, LINE 4B","explanation":"PRISCILLA SANDS PARTICIPATES IN A NON-QUALIFIED PLAN. FOR THE CALENDAR YEAR, THE MAXIMUM AMOUNT ALLOWED, $17,000, WAS CONTRIBUTED TO THE PLAN ON HER BEHALF."}]},"ScheduleK":{"bond_issues":[{"bond_reference":"A","issuer_ein":232237287,"business_name_line1":"PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT","cusip_number":"717818Q50","date_issued":"2005-12-08T00:00:00","issue_price":8000000,"purpose":"ACQUISITION, CONSTRUCTION, RENOVATION AND FURNISHING OF SCHOOL FACILITIES","defeased":false,"on_behalf_of_issuer":false,"pool_financing":false,"name":"PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT"},{"bond_reference":"B","issuer_ein":232237287,"business_name_line1":"PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT","cusip_number":"7178182N7","date_issued":"2007-12-06T00:00:00","issue_price":8000000,"purpose":"ACQUISITION, CONSTRUCTION, RENOVATION AND FURNISHING OF SCHOOL FACILITIES","defeased":false,"on_behalf_of_issuer":false,"pool_financing":false,"name":"PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT"}],"bond_proceeds":[{"bond_reference":"A","total_proceeds":8000000,"issuance_costs_from_proceeds":131871,"capital_expenditures":7868129,"amount_retired":8000000,"substantial_completion_year":2006,"current_refunding":false,"advance_refunding":false,"final_allocation_made":true,"adequate_books_and_records_maintained":true},{"bond_reference":"B","total_proceeds":8000000,"issuance_costs_from_proceeds":162750,"capital_expenditures":7837250,"amount_retired":8000000,"substantial_completion_year":2009,"current_refunding":false,"advance_refunding":false,"final_allocation_made":true,"adequate_books_and_records_maintained":true}],"private_business_use":[{"bond_reference":"A","private_security_or_payment_test":false,"private_business_use_by_others_percentage":0.0,"private_business_concerning_ubi_percentage":0.0,"total_private_business_use_percentage":0.0,"management_contract":false,"research_agreements":false,"lease_arrangements":false,"partnership_or_llc_owning_property":false,"change_in_use_bond_financed_property":false,"nonqualified_bond_remediated_procedures":false},{"bond_reference":"B","private_security_or_payment_test":false,"private_business_use_by_others_percentage":0.0,"private_business_concerning_ubi_percentage":0.0,"total_private_business_use_percentage":0.0,"management_contract":false,"research_agreements":false,"lease_arrangements":false,"partnership_or_llc_owning_property":false,"change_in_use_bond_financed_property":false,"nonqualified_bond_remediated_procedures":false}],"arbitrage":[{"bond_reference":"A","gross_proceeds_invested":false,"gross_proceeds_invested_in_gic":false,"hedge_identified_in_books_and_records":false,"variable_rate_issue":true,"written_procedures_to_monitor_requirements":false,"rebate_not_due_yet":false,"exception_to_rebate":false,"no_rebate_due":true,"form_8038t_filed":false},{"bond_reference":"B","gross_proceeds_invested":false,"gross_proceeds_invested_in_gic":false,"hedge_identified_in_books_and_records":false,"variable_rate_issue":true,"written_procedures_to_monitor_requirements":false,"rebate_not_due_yet":false,"exception_to_rebate":false,"no_rebate_due":true,"form_8038t_filed":false}],"corrective_action_procedures":[{"bond_reference":"A","procedures_corrective_action":true},{"bond_reference":"B","procedures_corrective_action":true}],"supplemental_information":[{"identifier":"SCHEDULE K PART IV, ARBITRAGE, LINE 2C","form_and_line_reference":"DATE REBATE COMPUTATION PERFORMED","explanation":"ISSUER NAME: PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT DATE THE REBATE COMPUTATION WAS PERFORMED: 04/18/2013 ISSUER NAME: PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT DATE THE REBATE COMPUTATION WAS PERFORMED: 04/18/2013"},{"identifier":"PART III, LINE 9 AND PART IV, LINE 7","form_and_line_reference":"POST-ISSUANCE COMPLIANCE POLICIES","explanation":"ALL BONDS HAVE BEEN RETIRED UNDER THE TERMS OF THE MERGER WITH SPRINGSIDE CHESTNUT HILL ACADEMY. ALL POST-ISSUANCE BOND COMPLIANCE POLICIES WILL BE APPROVED BY THE SUCCESSOR ORGANIZATION."}]},"ScheduleM":{"policies":{"any_property_that_must_be_held":false,"review_process_unusual_noncash_gifts":true,"third_parties_used":true},"noncash_contributions":{"books_and_publications":{"reported":true,"revenue_reported_on_990":65313,"method_of_determining_revenues":"PURCHASE PRICE"},"securities_publicly_traded":{"reported":true,"revenue_reported_on_990":57898,"contribution_count":3,"method_of_determining_revenues":"NYSE"}},"supplemental_information":[{"identifier":"THIRD PARTY USE:","form_and_line_reference":"PART I, LINE 32B:","explanation":"THE ORGANIZATION USES BROKERAGE FIRM UBS TO RECEIVE ANY STOCK DONATIONS. ALL STOCK DONATIONS, UNLESS OTHERWISE RESTRICTED, ARE SOLD IMMEDIATELY."}]},"ScheduleN":{"termination_or_liquidation":{"assets_distributed":false,"liabilities_paid":true,"bonds_outstanding":true,"bond_liabilities_discharged":true,"required_to_notify_attorney_general":true,"attorney_general_notified":true},"successor_relationships":{"director_of_successor":true,"employee_of_successor":true,"owner_of_successor":false},"liquidations":[{"business_name_line1":"SPRINGSIDE CHESTNUT HILL ACADEMY","ein":231352681,"irc_section":"501(C)(3)","distribution_date":"2013-06-30T00:00:00","description":"TOTAL ASSETS OF THE SCHOOL WERE TRANSFERRED AS PART OF A PLANNED MERGER.","fair_market_value":30470607,"method_of_fmv_determination":"FAIR MARKET VALUE WAS DETERMINED USING BOTH HISTORICAL COST AND ESTABLISHED AUDIT METHODS FOR VALUING ASSETS.","address_line1":"500 W WILLOW GROVE AVENUE","city":"PHILADELPHIA","state":"PA","zip":"19118","name":"SPRINGSIDE CHESTNUT HILL ACADEMY","address":"500 W WILLOW GROVE AVENUE, PHILADELPHIA, PA, 19118"}],"supplemental_information":[{"explanation":"PART I, LINE 2E: ALL BOARD MEMBERS AND EMPLOYEES"},{"explanation":"PART I, LINE 2E: THE FILING ORGANIZATION AND ITS SUCCESSOR ORGANIZATION HAVE BEEN SISTER SCHOOLS FOR MANY YEARS AND HAVE BEEN ORGANIZED AND OVERSEEN BY A COMMON BOARD IN ANTICIPATION OF A PLANNED MERGER. ALL BOARD MEMBERS SIT ON BOTH THE FILING AND SUCCESSOR ORGANIZATION AND ALL EMPLOYEES WILL RETAIN THEIR POSITIONS AT THE SUCCESSOR ORGANIZATION."},{"explanation":"PART I, LINE 7C: THE ORGANIZATION TRANSFERRED ALL LIABILITIES PER THE PLANNED MERGER DOCUMENTS. THE ORGANIZATION REFUNDED ITS SEPARATE ISSUE BONDS UNDER THE GUIDANCE OF FEDERAL AND STATE LAW AND A NEW ISSUE UNDER THE SUCESSOR ORGANIZATION WAS RELEASED ACCORDING TO FEDERAL AND STATE REGULATIONS."}]},"ScheduleR":{"tax_exempt_organizations":[{"ein":232003194,"business_name_line1":"SPRINGSIDE CHESTNUT HILL CORPORATION","primary_activities":"FINANCIALLY SUPPORT EDUCATION FOR THE BENEFIT OF SPRINGSIDE AND CHA","exempt_code_section":"501(C)(3)","public_charity_status":"LINE 11A, I","controlled_organization":false,"legal_domicile_state":"PA","address_line1":"WILLOW GROVE AVENUE CHEROKEE STREET","city":"PHILADELPHIA","state":"PA","zip":"19118","name":"SPRINGSIDE CHESTNUT HILL CORPORATION","address":"WILLOW GROVE AVENUE CHEROKEE STREET, PHILADELPHIA, PA, 19118"},{"ein":231352681,"business_name_line1":"SPRINGSIDE CHESTNUT HILL ACADEMY","primary_activities":"EDUCATION","exempt_code_section":"501(C)(3)","public_charity_status":"LINE 2","controlled_organization":false,"legal_domicile_state":"PA","address_line1":"500 W WILLLOW GROVE AVENUE","city":"PHILADELPHIA","state":"PA","zip":"19118","name":"SPRINGSIDE CHESTNUT HILL ACADEMY","address":"500 W WILLLOW GROVE AVENUE, PHILADELPHIA, PA, 19118"}],"transaction_flags":{"dividends_from_related_organization":false,"gift_grant_or_capital_contribution_from_other_org":false,"gift_grant_or_capital_contribution_to_other_org":false,"loans_or_guarantees_from_other_org":false,"loans_or_guarantees_to_other_org":false,"performance_of_services_by_other_orgs":true,"performance_of_services_for_other_orgs":true,"sharing_of_facilities":true,"sharing_of_paid_employees":true,"reimbursement_paid_by_other_org":false,"reimbursement_paid_to_other_org":false,"rental_of_facilities_from_other_orgs":false,"rental_of_facilities_to_other_orgs":false,"purchase_of_assets_from_other_org":false,"sale_of_assets_to_other_org":false,"exchange_of_assets":true,"receipt_of_interest_annuities_rents_royalties":false,"other_transfer_from_other_org":false,"other_transfer_to_other_org":true}},"Ratings":{"Mission Deployment Rate":{"score":null},"Program Expense Ratio":{"score":null},"Fundraising Efficiency":{"score":null,"percentile":null},"Filing Consistency Score":{"score":1.0},"Grant Itemization Coverage":{"score":1.0},"Independent Voting Board Pct":{"score":0.9259259259259259},"Operating Margin":{"score":-0.25792172178268075,"percentile":0.17148847299572595},"Operating Reserve Ratio":{"score":0.0,"percentile":0.026800149493383534},"Liabilities to Assets Ratio":{"score":null,"percentile":null},"Officer Compensation Ratio":{"score":0.04261073970484572,"percentile":0.7912670627013538},"Program Expense Growth":{"score":null,"percentile":null},"Revenue Growth":{"score":-0.021592650439974225,"percentile":0.28925796164038986},"Asset Growth":{"score":-0.4047556072936103,"percentile":0.031463467500394096},"Foreign Oversight Score":{"score":null},"Major-Donor Itemization":{"score":1.0},"Related-Party Transparency":{"score":null},"Pay-Setting Controls":{"score":0.6666666666666666,"weight":5,"atoms":{"Compensation committee":{"value":true},"Independent compensation consultant":{"value":true},"Form 990 of other organizations reviewed":{"value":false},"Written employment contract":{"value":false},"Compensation survey or study":{"value":true},"Board or committee approval":{"value":true}}},"Governance Policy Score":{"score":1.0,"weight":5,"atoms":{"Conflict of interest policy":{"value":true},"Whistle blower policy":{"value":true},"Document retention policy":{"value":true},"Compensation process for CEO":{"value":true},"Compensation process for other employees":{"value":true},"Form 990 provided to governing body":{"value":true},"Minutes of governing body":{"value":true},"Audit committee":{"value":true},"Independent audit financial statements":{"value":true}}},"Categories":{"Financial Efficiency":{"score":null,"weight":45},"Transparency & Controls":{"score":0.9166666666666666,"weight":20},"Accountability":{"score":0.95679012345679,"weight":14},"Sustainability":{"score":0.2058961771223622,"weight":13},"Growth":{"score":0.2033264635937246,"weight":8}},"Overall Score":{"score":0.6551210376921618,"percentile":0.2375088682640713}},"source_xml":"201430359349300118_public.xml"},"sector":"Education","donation_categories":[],"zakat_policy":null},"error":null}