2023-05-05T09:55:33-05:00 2022-06-30 420714325 RSM US LLP 1250 H STREET SUITE 700 WASHINGTON DC 20005 990 2021-07-01 540562160 THE POTOMAC SCHOOL POTO 7033564100 1301 POTOMAC SCHOOL ROAD MCLEAN VA 22101 JOHN KOWALIK HEAD OF SCHOOL 7033564100 2023-05-04 1 JOHN KOWALIK XXX-XX-XXXX ELIZABETH W HELLER P00397829 2022932200 2023-05-04 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z JOHN KOWALIK 1301 POTOMAC SCHOOL ROAD MCLEAN VA 22101 69184962 0 X WWW.POTOMACSCHOOL.ORG X 1907 DC AT THE POTOMAC SCHOOL, WE BELIEVE THAT INTELLECTUAL DEVELOPMENT, LOVE OF LEARNING, AND STRENGTH OF CHARACTER ARE COMPLEMENTARY, AND EQUALLY ESSENTIAL, EDUCATIONAL GOALS. WITH A FIRM COMMITMENT TO OUR CORE VALUES AND A RIGOROUS ACADEMIC PROGRAM, WE PREPARE STUDENTS TO LEAD LIVES OF PURPOSE, ACHIEVEMENT, AND GENEROSITY OF SPIRIT. 24 24 476 540 89028 56034 3960184 4363588 44507658 49814692 542460 1364832 655580 1440646 49665882 56983758 5188654 5326323 0 0 29465280 30710825 49500 79400 2343995 13509201 17678161 48212635 53794709 1453247 3189049 225192195 221694159 78867135 75097895 146325060 146596264 X AT THE POTOMAC SCHOOL, WE BELIEVE THAT INTELLECTUAL DEVELOPMENT, LOVE OF LEARNING, AND STRENGTH OF CHARACTER ARE COMPLEMENTARY, AND EQUALLY ESSENTIAL, EDUCATIONAL GOALS. WITH A FIRM COMMITMENT TO OUR CORE VALUES AND A RIGOROUS ACADEMIC PROGRAM, WE PREPARE STUDENTS TO LEAD LIVES OF PURPOSE, ACHIEVEMENT, AND GENEROSITY OF SPIRIT. 0 0 44642816 5326323 49805239 PROVIDING EDUCATION FROM KINDERGARTEN TO THE TWELFTH GRADE FOR APPROXIMATELY 1065 STUDENTS. 44642816 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 83 0 1 476 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X DYANA CONROY 7033564100 1301 POTOMAC SCHOOL ROAD MCLEAN VA 22101 SAMEER BHARGAVA CHAIR 2.00 X X 0 0 0 NORMA C RAMSEY VICE CHAIR 2.00 X X 0 0 0 KAREN SONNEBORN SECRETARY 2.00 X X 0 0 0 THOMAS J RIETANO TREASURER 2.00 X X 0 0 0 NOHA ABDALLA TRUSTEE 2.00 X 0 0 0 NATALIE F BUSH TRUSTEE 2.00 X 0 0 0 MINA C FALTAS TRUSTEE 2.00 X 0 0 0 MICHAEL L DAVIS TRUSTEE 2.00 X 0 0 0 ELLEN M DWYER TRUSTEE 2.00 X 0 0 0 DANIEL I FISHER TRUSTEE 2.00 X 0 0 0 CHRISTOPHER D GRAHAM TRUSTEE 2.00 X 0 0 0 TANYA L R LA FORCE TRUSTEE 2.00 X 0 0 0 REED LANDRY TRUSTEE 2.00 X 0 0 0 MARYANNE LAVAN TRUSTEE 2.00 X 0 0 0 KIMBERLY A KURYEA TRUSTEE 2.00 X 0 0 0 STEFANIE A THOMAS TRUSTEE 2.00 X 0 0 0 JAMES H ROONEY TRUSTEE 2.00 X 0 0 0 ERIC W ROSENTHAL TRUSTEE 2.00 X 0 0 0 SUSAN N SCHIEFFER TRUSTEE 2.00 X 0 0 0 ABIGAIL SPANGLER TRUSTEE 2.00 X 0 0 0 PAUL SHERIDAN JR TRUSTEE 2.00 X 0 0 0 WON KIM TRUSTEE 2.00 X 0 0 0 CHARLES O ROSSOTTI TRUSTEE 2.00 X 0 0 0 MARTIN W SUMNER TRUSTEE 2.00 X 0 0 0 JOHN J KOWALIK HEAD OF SCHOOL 60.00 X 849457 0 195889 DYANA CONROY CFO/COO 60.00 X 325204 0 76911 BARBARA OVERSTREET DIRECTOR OF ADVANCEMENT 50.00 X 236936 0 37556 TIMOTHY JAEGER ASSOCIATE HEAD OF SCHOOL 60.00 X 240635 0 124462 JOHN MATHEWS HEAD OF MIDDLE SCHOOL 50.00 X 192875 0 84016 DOUGLAS MCLANE HEAD OF UPPER SCHOOL 50.00 X 171362 0 81290 MARVIN MUHAT DIRECTOR OF FACILITIES 50.00 X 158862 0 24797 2175331 0 624921 52 0 1 0 MERIWETHER GODSEY INC 4944 OLD BOONSBORO ROAD LYNCHBURG VA 24503 FOOD SERVICE 697476 RED COATS INC PO BOX 79579 BALTIMORE MD 21279 JANITORIAL 669001 CANNON WASHINGTON INC DEPARTMENT CHICAGO 19824 PALATINE IL 60055 ARCHITECT 304382 BRIGHT VIEW LANDSCAPE SERVICES INC PO BOX 740655 ATLANTA GA 303740655 LANDSCAPING 289931 GAME DAY INC 25284 PLEASANT VALLEY ROAD SUITE 1 CHANTILLY VA 20152 LANDSCAPING 230540 11 15984 4347604 497393 4363588 TUITION 900099 46812869 46812869 SUMMER PROGRAMS 900099 1661734 1661734 TRANSPORTATION 900099 1014773 1005320 9453 ENRICHMENT PROGRAM 900099 180186 180186 EXTENDED DAY 900099 93265 93265 51865 51865 49814692 59297 1240 58057 13293106 14677 11979347 22901 1313759 -8224 1305535 78335 1227200 1514119 15984 198956 1315163 1315163 OTHER INCOME 900099 125483 125483 125483 56983758 49805239 89028 2725903 5326323 5326323 1279290 1106895 116125 56270 22472691 19487209 1980866 1004616 1614341 1361941 194503 57897 3668442 3094885 441990 131567 1676061 1469301 136640 70120 83988 52349 23769 7870 76753 47839 21722 7192 79400 79400 129826 129826 1589477 1075632 460053 53792 60961 40598 18434 1929 621118 362697 138200 120221 928786 714940 193588 20258 1657858 1160676 450084 47098 322503 321042 1461 429552 279249 19688 130615 1117756 744392 337996 35368 4708589 3135782 1423816 148991 379487 271815 97472 10200 FOOD & ENTERTAINMENT 1613412 1074485 487875 51052 DEPARTMENT EXPENSES 1549571 1530430 17328 1813 SUMMER PROGRAM 1251165 1251165 BAD DEBTS 353435 52107 23661 277667 803924 681064 94262 28598 53794709 44642816 6807898 2343995 300 300 48114662 51264048 3465167 2175389 145062 225377 92047 71333 441557 743580 158902578 55575248 104852899 103327330 27037 47746534 43013233 20333967 20846532 225192195 221694159 3739714 3917544 22381875 23816861 23063308 21828255 6945800 3620800 22736438 21914435 78867135 75097895 X 136533611 138315109 9791449 8281155 146325060 146596264 225192195 221694159 X 3189049 -4252413 1334568 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 62134652 5315479 -2991007 1883122 62576002 52840311 278776 10765467 1749902 62134652 50026524 3975401 212794 1374408 52840311 49023345 3129335 2445783 4571939 50026524 42885335 4395582 3278736 1536308 49023345 0.92250 0.05820 0.01930 0 0 10611985 10611985 133416116 43614422 89801694 14115609 11960826 2154783 758868 758868 103327330 LIMITED PARTNERSHIPS 12490251 C COMMON FUND INVESTMENTS 30522982 F 43013233 DEFERRED COMPENSATION 458044 DEPOSITS 29900 CONTRACT ASSETS 20358588 20846532 DEFERRED COMPENSATION 458044 INTEREST RATE SWAP AGREEMENT 1097803 CONTRACT LIABILITY 20358588 21914435 X 47283420 -4252413 -5326323 -9578736 56862156 129826 -8224 121602 56983758 48346784 8224 8224 48338560 129826 5326323 5456149 53794709 PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO PROVIDE FINANCIAL AID, PURCHASE LIBRARY BOOKS, FRAME STUDENT ARTWORK, FUND COMMUNITY SERVICE, FACULTY SALARIES AND ENRICHMENT, SCIENCE PROGRAMS, THEATER AND MUSIC, GLOBAL STUDIES, AND SUPPORT THE SCHOOL PRIORITIES OF EXCELLENT TEACHING, STUDENT SCHOLARSHIPS, AND ACADEMIC PROGRAMS AND RESOURCES. PART X, LINE 2: THE SCHOOL IS ORGANIZED AS A DISTRICT OF COLUMBIA NONPROFIT CORPORATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER IRS SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN IRS SECTION 501(C)(3), QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER IRC SECTIONS 170(B)(1)(A)(VI) AND (VIII), AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER IRS SECTIONS 509(A)(1) AND (3). THE SCHOOL IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE SCHOOL IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THEIR EXEMPT PURPOSE; WHEN THE SCHOOL HAS UNRELATED BUSINESS INCOME IN A GIVEN YEAR IT FILES AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST TUITION -5,326,323. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF EQUIPMENT REPORTED ON PART VIII LINE 7C -8,224. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF EQUIPMENT REPORTED ON PART VIII LINE 7C 8,224. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST TUITION 5,326,323. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 AN ANNOUNCEMENT IS PRINTED IN THE WASHINGTON POST NEWSPAPER. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 395806 0 0 0 0 0 0 395806 0 395806 0 0 0 0 0 0 PART III ACCOUNTING METHOD: X X X X X 1 GRAHAM-PELTON CONSULTING INC 39 BEECHWOOD ROAD SUMMIT NJ 07901 FUNDRAISING CONSULTING SERVICES 0 0 79400 -79400 79400 -79400 VA SPRING AUCTION 1458731 10384 1448347 168559 FALL FROLICS CARNIVAL 67322 5600 61722 30397 1526053 15984 1510069 198956 198956 1311113 1 FINANCIAL AID AWARDS TO STUDENTS 202 5326323 PART I, LINE 2: THE POTOMAC SCHOOL UTILIZES THE SERVICES OF THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS, STUDENT SCHOLARSHIP SERVICES (SSS), TO HELP EVALUATE EACH STUDENT'S NEEDS FOR FINANCIAL ASSISTANCE. EACH APPLICANT COMPLETES A STANDARDIZED FORM AND AN EVALUATION IS PRODUCED WHICH INCLUDES RECOMMENDATIONS AS TO THE LEVEL OF FINANCIAL ASSISTANCE REQUIRED. THE SCHOOL USES THESE REPORTS AS A GUIDE TO DETERMINE WHICH STUDENTS REQUIRE FINANCIAL ASSISTANCE AND AN ESTIMATE OF THAT NEED. X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 JOHN J KOWALIK HEAD OF SCHOOL 562929 0 0 0 286528 0 97500 0 101693 0 1048650 0 91000 0 DYANA CONROY CFO/COO 290587 0 0 0 34617 0 48000 0 32346 0 405550 0 20000 0 TIMOTHY JAEGER ASSOCIATE HEAD OF SCHOOL 215147 0 0 0 25488 0 41498 0 85976 0 368109 0 20000 0 JOHN MATHEWS HEAD OF MIDDLE SCHOOL 177074 0 0 0 15801 0 16551 0 70711 0 280137 0 10000 0 BARBARA OVERSTREET DIRECTOR OF ADVANCEMENT 233590 0 0 0 3346 0 18886 0 21752 0 277574 0 0 0 DOUGLAS MCLANE HEAD OF UPPER SCHOOL 170823 0 0 0 539 0 12212 0 71735 0 255309 0 0 0 MARVIN MUHAT DIRECTOR OF FACILITIES 157500 0 0 0 1362 0 10990 0 16300 0 186152 0 0 0 PART I, LINE 1A JOHN KOWALIK RECEIVED GROSS-UPS IN THE AMOUNT OF $9,854 RELATED TO INSURANCE BENEFITS. THE SCHOOL COMPENSATES THE HEAD OF SCHOOL AND VARIOUS DEPARTMENT HEADS. THE SCHOOL PROVIDES THE HEAD OF SCHOOL AND VARIOUS DEPARTMENT HEADS WITH HOUSING. THE RENTAL VALUE REFLECTS THE FAIR MARKET VALUE FOR COMPARABLE HOUSES IN THE AREA. THE TRANSACTIONS WERE APPROVED BY THE BOARD OF TRUSTEES WITH ADEQUATE DOCUMENTATION. FOLLOWING EMPLOYEES RECEIVED NONTAXABLE HOUSING ALLOWANCE: JOHN KOWALIK - $68,979 TIMOTHY JAEGER - $56,920 JOHN MATHEWS - $41,421 DOUGLAS MCLANE - $46,074 MARVIN MUHAT - $13,807 PART I, LINE 4B FOLLOWING EMPLOYEES PARTICIPATE IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN 457(F) AND THE SCHOOL CONTRIBUTED FOLLOWING AMOUNTS DURING THE CALENDAR YEAR. JOHN KOWALIK - $55,000 DYANA CONROY - $25,000 TIMOTHY JAEGER - $25,000 FOLLOWING EMPLOYEES RECEIVED A PAYMENT FROM A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN 457(F) DURING THE CALENDAR YEAR. JOHN KOWALIK - $120,464 DYANA CONROY - $26,586 TIMOTHY JAEGER - $23,478 JOHN MATHEWS - $14,922 A FAIRFAX COUNTY ECONOMIC DEVELOPMENT AUTHORITY 540787833 2004-07-12 16430000 REDEMPTION OF PRIOR BONDS AND SCHOOL CONSTRUCTION 0 0 0 B FAIRFAX COUNTY ECONOMIC DEVELOPMENT AUTHORITY 540787833 2005-08-04 20570000 CONSTRUCTION OF NEW UPPER SCHOOL BUILDING 0 0 0 A 6905658 16430000 16430000 2004 1 0 1 1 B 8087054 20570000 20570000 2006 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 0 0 0 0 1 B 0 0 1 0 1 1 PNC BANK 28.000000000000 0 0 0 0 1 A 1 B 1 X 31 497393 FMV 1 0 1 0 PART I, COLUMN (B): REPORTING THE NUMBER OF ITEMS RECEIVED FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED AND APPROVED BY THE AUDIT COMMITTEE. AFTER THAT IT GOES TO THE FULL BOARD FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C FOR KEY EMPLOYEES: WHERE A POTENTIAL CONFLICT OF INTEREST EXISTS, IT SHALL BE THE RESPONSIBILITY OF THE PERSON INVOLVED OR ANY OTHER PERSON WITH KNOWLEDGE TO NOTIFY THE HEAD OF SCHOOL OF THE CIRCUMSTANCES RESULTING IN THE POTENTIAL CONFLICT SO THAT IT CAN BE COMMUNICATED TO THE BOARD OF TRUSTEES WHO CAN, IN COUNSEL WITH THE HEAD OF SCHOOL, THEN PROVIDE SUCH GUIDANCE AND TAKE SUCH ACTION AS THEY SHALL DEEM APPROPRIATE. THIS STATEMENT SHALL BE SIGNED ANNUALLY BY ALL KEY EMPLOYEES. FOR BOARD OF TRUSTEES: WHERE A POTENTIAL CONFLICT OF INTEREST EXISTS, IT SHALL BE THE RESPONSIBILITY OF THE PERSON INVOLVED OR ANY OTHER PERSON WITH KNOWLEDGE TO NOTIFY THE CHAIR AND VICE CHAIR OF THE BOARD OF TRUSTEES AS WELL AS THE CHAIR OF THE COMMITTEE ON TRUSTEES OF THE CIRCUMSTANCES RESULTING IN THE POTENTIAL CONFLICT SO THAT THE BOARD OF TRUSTEES CAN PROVIDE SUCH GUIDANCE AND TAKE SUCH ACTION AS IT SHALL DEEM APPROPRIATE. THIS STATEMENT SHALL BE SIGNED ANNUALLY BY ALL TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE REVIEWS AND DISCUSSES THE TOTAL COMPENSATION PACKAGES OF THE HEAD OF SCHOOL AND SCHOOL ADMINISTRATORS. SALARY INFORMATION ONLY FOR SIMILAR POSITIONS FROM COMPARABLE SCHOOLS ARE USED TO ESTABLISH A REASONABLE COMPENSATION. THE COMMITTEE HAS THE AUTHORITY TO APPROVE THE COMPENSATION PACKAGE OF THE HEAD OF SCHOOL AND SCHOOL ADMINISTRATORS ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 A PUBLIC INSPECTION FILE IS MAINTAINED ONSITE THAT INCLUDES THE 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS. FORM 990, PART XI, LINE 9: INTEREST RATE AGREEMENTS GAIN 1,334,568.