2025-05-02T09:33:25-05:00 2024-06-30 420714325 RSM US LLP 100 INTERNATIONAL DRIVE SUITE 1400 BALTIMORE MD 21202 990 2023-07-01 520591516 GARRISON FOREST SCHOOL INC GARR 4103631500 300 GARRISON FOREST SCHOOL OWINGS MILLS MD 21117 STACY MOHN CHIEF FINANCIAL OFFICER 4103631500 2025-05-01 1 1 JULIA FLANNERY P00928918 4102469300 2025-05-01 2023 2025-03-06 01:10:19Z STACY MOHN 300 GARRISON FOREST SCHOOL OWINGS MILLS MD 21117 33450977 0 X WWW.GFS.ORG X 1939 MD AT GARRISON FOREST SCHOOL, WE PREPARE OUR STUDENTS IN AND OUT OF THE CLASSROOM TO THRIVE IN A COMPLEX AND CHANGING WORLD. 28 28 277 150 374006 0 15666449 5208858 18948918 23096761 1616867 1697456 282612 249346 36514846 30252421 5174156 6566383 0 0 14292403 15201189 0 0 1080647 9200825 9787847 28667384 31555419 7847462 -1302998 109126804 112899807 20752182 22158669 88374622 90741138 X AT GARRISON FOREST SCHOOL, WE PREPARE OUR STUDENTS IN AND OUT OF THE CLASSROOM TO THRIVE IN A COMPLEX, CHANGING WORLD BY: CHALLENGING THEM TO STRIVE FOR ACADEMIC EXCELLENCE AND TO GROW INTO INFORMED, INDEPENDENT, AND CREATIVE THINKERS; CULTIVATING AN AUTHENTIC AND RESILIENT SENSE OF SELF, GROUNDED IN RESPECT AND INTEGRITY; CREATING A DIVERSE AND INCLUSIVE COMMUNITY BUILT ON A SPIRIT OF CARING; INSPIRING YOUNG WOMEN TO LEAD AND TO SERVE WITH PASSION, PURPOSE, AND JOY. 0 0 19410531 6566383 19723158 EDUCATIONAL AND GENERAL: INCLUDES INSTRUCTION, STUDENT SUPPORT SERVICES AND PLANT MAINTENANCE TO SERVE 527 STUDENTS AT THE SCHOOL. 6194061 2846521 AUXILIARY ENTERPRISES: INCLUDES STUDENT ACTIVITIES, SUMMER ACTIVITIES AND STABLES. ACTIVITIES ARE AVAILABLE TO ALL STUDENTS. SOME ACTIVITIES ARE AVAILABLE TO THE GENERAL PUBLIC. 25604592 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 0 1 0 1 0 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 1 117 0 1 277 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 28 28 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 MD X STACY MOHN 4103631500 300 GARRISON FOREST SCHOOL OWINGS MILLS MD 21117 LILA BOYCE LOHR PRESIDENT 2.00 X X 0 0 0 HELEN ZINREICH SHAFER VICE PRESIDENT 2.00 X X 0 0 0 AMABEL BOYCE JAMES TREASURER 2.00 X X 0 0 0 EMILY GARDNER BARATTA SECRETARY 2.00 X X 0 0 0 JAIME SOPHER ARNOLD BOARD MEMBER 2.00 X 0 0 0 PATRICIA G AUTREY BOARD MEMBER 2.00 X 0 0 0 ARABELLA K BROCKETT BOARD MEMBER 2.00 X 0 0 0 CASSANDRA NAYLOR BROOKS BOARD MEMBER 2.00 X 0 0 0 AUGUST J CHIASERA BOARD MEMBER 2.00 X 0 0 0 DIANA WARFIELD DALY BOARD MEMBER 2.00 X 0 0 0 STACY GARETT-RAY BOARD MEMBER 2.00 X 0 0 0 SARAH LEBRUN INGRAM BOARD MEMBER 2.00 X 0 0 0 CATHERINE Y JACKSON BOARD MEMBER 2.00 X 0 0 0 ELIZABETH R KOKINIS BOARD MEMBER 2.00 X 0 0 0 PETER J KORZENEWSKI BOARD MEMBER 2.00 X 0 0 0 JENNIFER E LAWRENCE BOARD MEMBER 2.00 X 0 0 0 CRYSTAL LEE BOARD MEMBER 2.00 X 0 0 0 KRISTOPHER A MALLAHAN BOARD MEMBER 2.00 X 0 0 0 ROBYNE O MCCULLOUGH BOARD MEMBER 2.00 X 0 0 0 CATHERINE SCHROEDER O'NEILL BOARD MEMBER 2.00 X 0 0 0 W BROOKS PATERNOTTE BOARD MEMBER 2.00 X 0 0 0 CHRISTINA N RIEPE BOARD MEMBER 2.00 X 0 0 0 CHARLOTTE S RIGGS BOARD MEMBER 2.00 X 0 0 0 ASHLEY EAST ROGERS BOARD MEMBER 2.00 X 0 0 0 GEORGE J SAKELLARIS BOARD MEMBER 2.00 X 0 0 0 ERIKA DANEMAN SLATER BOARD MEMBER 2.00 X 0 0 0 ELIZABETH B WARFIELD BOARD MEMBER 2.00 X 0 0 0 WILLIAM L YERMAN BOARD MEMBER 2.00 X 0 0 0 CHRIS HUGHES HEAD OF SCHOOL 50.00 X 269101 0 119277 STACY MOHN HEAD OF SCHOOL FOR FINANCE 50.00 X 206279 0 74130 CAROLYN LEWIS DIR COMM LIFE & INCL (THRU 4/30/24) 50.00 X 120753 0 273 ROBERT AMMONS DIRECTOR OF IT 50.00 X 112064 0 6588 CATIE PERICH DIRECTOR OF ADMISSIONS 50.00 X 112744 0 17063 JESSICA MORGAN ATHLETIC DIRECTOR 50.00 X 117449 0 8472 MARYANN JONES DIRECTOR OF ADVANCEMENT 50.00 X 183408 0 32961 1121798 0 258764 12 0 1 0 SAGE DINING SERVICES INC 1402 YORK ROAD SUITE 100 LUTHERVILLE MD 21093 FOOD SERVICES 801783 HORD COPLAN MACHT INC 700 EAST PRATT STREET BALTIMORE MD 21202 ARCHITECTURE 183403 CJ MAINTENANCE INC 9254 BENDIX ROAD COLUMBIA MD 21045 JANITORIAL SERVICE 123670 3 61276 6056 5141526 1386475 5208858 STUDENT TUITION FEES 900099 20565452 20565452 HORSE & STABLE INCOME 713990 1403900 1029894 374006 EXT. & DAY CARE PROG. 900099 213388 213388 CAFETERIA & SNACK BAR 900099 153076 153076 SCHOLARSHIPS 900099 126760 126760 634185 634185 23096761 1329040 1329040 310315 49839 260476 260476 260476 3342137 2973721 368416 368416 368416 32209 61276 37603 -5394 -5394 131657 137393 -5736 -5736 30252421 22569679 374006 2099878 6337664 6337664 228719 228719 573538 404615 135436 33487 10981694 7462989 2819623 699082 460122 351312 87744 21066 2341193 2070423 218349 52421 844642 644900 161072 38670 59531 59531 87925 87925 152926 152926 1028423 1014391 9042 4990 258881 258881 2640039 2441391 195955 2693 520084 381741 111560 26783 512020 499220 7680 5120 78316 77499 817 371099 311009 54611 5479 2502394 2439891 37502 25001 400179 301375 79675 19129 ACTIVITIES/EVENTS 838613 714952 51503 72158 337417 263666 73751 31555419 25604592 4870180 1080647 2500 2500 3489177 4130462 3807266 1926815 381348 657376 63761750 34968194 30407468 28793556 13677127 13650446 31554212 35024315 25807706 28714337 109126804 112899807 1290819 2360851 3178501 3404722 6489173 6390795 75650 46933 9718039 9955368 20752182 22158669 X 36259631 34235199 52114991 56505939 88374622 90741138 109126804 112899807 -1302998 3669514 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 40678538 1838389 4965784 2739003 44743708 37320453 2572584 3632723 2847222 40678538 42984276 1011347 -3832155 2843015 37320453 36957180 124550 8841111 2938565 42984276 38980104 10679 769509 2803112 36957180 0.17781 0.82219 0 0 325621 325621 60779697 33434239 27345458 2656432 1533955 1122477 28793556 BLACKROCK COREALPHA BOND FUND 7744848 F HEDGE FUNDS 4028053 F ISHARES S&P 500 INDEX FUND CLASS G 14282964 F LIMITED PARTNERSHIPS 3869054 F OTHER ALTERNATIVE INVESTMENTS 5099396 F 35024315 OTHER ASSETS 1014355 CONSTRUCTION IN PROGRESS 1588433 BOND CLOSING COSTS 111682 REMAINDER TRUST 15400987 CONTRACT ASSET 9459629 ERC RECEIVABLE 649212 RIGHT OF USE ASSET 490039 28714337 DEFERRED CONTRACT ASSET 9459629 FINANCE LEASE LIABILITIES 495739 9955368 X 26201126 3669514 137393 3806907 22394219 152926 7705276 7858202 30252421 23834610 224835 224835 23609775 152926 7792718 7945644 31555419 PART V, LINE 4: THE SCHOOL'S FINANCE COMMITTEE WILL ESTABLISH THE SPECIFIC DOLLAR AMOUNT THAT THE FUND WILL BE EXPECTED TO GENERATE TO CONTRIBUTE TO THE SCHOOL'S OPERATING FUND FOR THE NEXT FISCAL YEAR. THE DRAW FROM THE ENDOWMENT, OR SPENDING RATE, IS 4.0% PLUS AN ADDITIONAL 1% FOR PLANT FUND EXPENDITURES. IN THE CURRENT YEAR AND FUTURE YEARS, AN ADDITIONAL 2% WILL BE DRAWN FROM THE ENDOWMENT. PART X, LINE 2: THE SCHOOL HAS ADOPTED THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS POLICY, THE SCHOOL MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WOULD BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. MANAGEMENT HAS EVALUATED THE SCHOOL'S TAX POSITIONS AND HAS CONCLUDED THAT THE SCHOOL HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THIS GUIDANCE. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE JUNE 30, 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD AMOUNTS NETTED WITH REVENUE 137,393. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AMOUNTS NETTED ON FINANCIAL STATEMENTS 7,792,718. RENTAL EXPENSES NETTED WITH EXPENSES ON THE FINANCIAL STATEMENTS -49,839. FUNDRAISING EXPENSES NETTED WITH EXPENSES ON THE FINANCIAL STATEMENTS -37,603. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD AMOUNTS NETTED WITH REVENUE 137,393. RENTAL EXPENSES NETTED WITH EXPENSES ON THE FINANCIAL STATEMENTS 49,839. FUNDRAISING EXPENSES NETTED WITH EXPENSES ON THE FINANCIAL STATEMENTS 37,603. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AMOUNTS NETTED ON FINANCIAL STATEMENTS 7,792,718. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE BALTIMORE INDEPENDENT SCHOOL CONSORTIUM PUBLISHES ANNUALLY IN THE LOCAL NEWSPAPERS AN ANNOUNCEMENT LISTING THE NAMES OF ALL MEMBER SCHOOLS, WHICH PUTS FORWARD OUR UNIFIED NON- DISCRIMINATORY POLICY. GARRISON IS LISTED IN THIS ANNOUNCEMENT. SCHEDULE E, PART I, LINE 6 THE SCHOOL APPLIED FOR A PAYROLL TAX CREDIT UNDER THE ERTC PROGRAM AUTHORIZED BY THE CARES ACT. THE ERTC PROGRAM ALLOWED ELIGIBLE EMPLOYERS TO APPLY FOR A REFUND OF PAYROLL TAXES PAID IN 2021 EQUAL TO 70% OF QUALIFYING WAGES UP TO $10,000 OF WAGES PER EMPLOYEE, WHICH HAD NOT BEEN PAID WITH FORGIVEN PPP LOAN PROCEEDS. THE SCHOOL MET ALL ELIGIBILITY REQUIREMENTS FOR THE ERTC AND RECORDED A REFUND RECEIVABLE AND CORRESPONDING INCOME OF $950,088 AS OF AND FOR THE YEAR ENDED JUNE 30, 2022. DURING THE YEAR ENDED JUNE 30, 2023, THE SCHOOL COLLECTED $300,876 OF ITS OUTSTANDING ERTC RECEIVABLE. IN JULY 2024, THE SCHOOL COLLECTED AN ADDITIONAL $636,487, AND IS EXPECTING TO COLLECT THE REMAINING $12,725 DURING THE YEAR ENDING JUNE 30, 2025. THE REMAINING REFUND RECEIVABLE IS INCLUDED IN THE OTHER ASSETS LINE ON THE STATEMENTS OF FINANCIAL POSITION AS OF JUNE 30, 2024 AND 2023. 1 SUB-SAHARAN AFRICA 0 0 GRANTMAKING 62455 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTMAKING 36854 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING 119410 NORTH AMERICA 0 0 GRANTMAKING 10000 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 7114192 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 782916 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES TRAVEL FOR ADMISSIONS 2118 NORTH AMERICA 0 0 PROGRAM SERVICES TRAVEL FOR ADMISSIONS 8629 0 0 0 0 0 0 8136574 0 8136574 FINANCIAL AID SUB-SAHARAN AFRICA 1 62455 AMOUNT APPLIED TOWARDS TUITION 0 FINANCIAL AID CENTRAL AMERICA AND THE CARIBBEAN 1 36854 AMOUNT APPLIED TOWARDS TUITION FINANCIAL AID EUROPE (INCLUDING ICELAND & GREENLAND) 2 119410 AMOUNT APPLIED TOWARDS TUITION FINANCIAL AID NORTH AMERICA 1 10000 AMOUNT APPLIED TOWARDS TUITION 1 0 0 0 0 0 PART I, LINE 2: THE GRANT FUNDS ARE FINANCIAL AID THAT WAS APPLIED DIRECTLY TO THE STUDENTS TUITION ACCOUNT. GOLF OUTING 73000 53075 19925 2995 12970 6955 2400 SILENT AUCTION 20485 8201 12284 6894 2232 3157 93485 61276 32209 2995 12970 13849 2232 5557 37603 -5394 1 FINANCIAL AID 280 6270453 MERIT-BASED AID 3 67211 PART I, LINE 2: GFS USES FACTS, A SUPPLEMENTAL FORM, PAY STUBS, TAX RETURNS AND W-2'S TO HELP EVALUATE THE FINANCIAL NEED OF FAMILIES. ALL FINANCIAL AID FILES ARE ELECTRONIC. THE PREVIOUS YEAR'S TAX RETURN IS USED IN THE INITIAL DECISION BUT THE AMOUNT AWARDED IS CONTINGENT UPON RECEIPT AND REVIEW OF THE CURRENT YEAR'S TAX RETURN. IF THERE IS A SIGNIFICANT DISCREPANCY BETWEEN THE INFORMATION A FAMILY PROVIDED AND THE CURRENT TAX RETURN, AN AWARD WOULD BE ADJUSTED ACCORDINGLY. FAMILIES ARE NOTIFIED IN AN AWARD LETTER THE AMOUNT THAT WILL BE APPLIED TOWARDS THEIR TUITION. THE BUSINESS OFFICE APPLIES THE AWARDS TO THE STUDENT'S ACCOUNT. UPDATES / NEW ADDITIONS ARE SENT TO THE BUSINESS OFFICE AS NEEDED. X 1 1 X X X 0 0 0 0 0 0 0 0 0 CHRIS HUGHES HEAD OF SCHOOL 269101 0 0 0 0 0 38450 0 80827 0 388378 0 0 0 STACY MOHN HEAD OF SCHOOL FOR FINANCE 206279 0 0 0 0 0 33429 0 40701 0 280409 0 0 0 MARYANN JONES DIRECTOR OF ADVANCEMENT 183408 0 0 0 0 0 5508 0 27453 0 216369 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL IS PROVIDED WITH ON CAMPUS HOUSING. THE AMOUNT IS NOT INCLUDED IN TAXABLE COMPENSATION. A MARYLAND INDUSTRIAL DEVELOPMENT FINANCING AUTHORITY 526002033 574221LM7 2017-07-18 6562291 CONSTRUCTION 0 1 0 A 150000 6562291 125293 6430513 6485 1 0 1 1 A 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 1 A 1 SCHEDULE K, PART II, LINE 12 OTHER UNSPENT PROCEEDS INCLUDE A DEPOSIT TO INTEREST ACCOUNT FOR SERIES 2017 BONDS. X 9 1386475 MKT PRICE - DATE OF TRAN 0 0 0 0 PART I, COLUMN (B): REPORTING THE NUMBER OF CONTRIBUTORS FORM 990, PART VI, SECTION A, LINE 2 ELIZABETH WARFIELD AND DIANA DALY HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FINAL DRAFT WILL BE DISTRIBUTED TO THE FULL FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C ANY TRUSTEE, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH THE BOARD OF TRUSTEES, WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST, IS AN INTERESTED PERSON. AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF ANY FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE MEMBERS OF THE BOARD COMMITTEE CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE OR SHE SHALL LEAVE THE COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. IF A BOARD COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE A FINANCIAL INTEREST OR AN ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, THE BOARD COMMITTEE SHALL INFORM THE MEMBER OF THE BASIS TO SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE A FINANCIAL INTEREST OR AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL REPORT THE MATTER TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FOR APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. THE PROCEEDINGS ARE DOCUMENTED IN THE MINUTES OF BOARD COMMITTEES. FORM 990, PART VI, SECTION B, LINE 15 IN DETERMINING THE COMPENSATION LEVEL FOR AN INCOMING HEAD OF SCHOOL OR A NEW MULTI-YEAR CONTRACT, LOCAL AND NATIONAL COMPARABLE STATISTICS ARE GATHERED, REVIEWED AND DOCUMENTED BY THE EXECUTIVE COMMITTEE OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D).