2025-05-15T11:03:51-05:00 2024-06-30 570381582 ELLIOTT DAVIS PLLC 500 EAST MOREHEAD STREET SUITE 700 CHARLOTTE NC 28202 990 2023-07-01 620126365 BAYLOR SCHOOL BAYL 4232678505 171 BAYLOR SCHOOL ROAD CHATTANOOGA TN 37405 DALLAS JOSEPH JR VICE PRESIDENT/TREASURER 4232678505 2025-05-13 1 1 JANICE A RATICA P00358837 7043338881 2025-05-15 2023 2025-03-06 01:10:19Z CHRIS ANGEL 171 BAYLOR SCHOOL ROAD CHATTANOOGA TN 37405 80267110 0 X WWW.BAYLORSCHOOL.ORG X 1893 TN THE BAYLOR SCHOOL IS A CO-EDUCATIONAL DAY AND BOARDING COLLEGE PREPARATORY INSTITUTION. 25 25 627 500 0 0 11296940 13786339 37713023 41697271 1608907 11727859 877556 215702 51496426 67427171 6077650 8355020 0 0 25181365 23883266 0 0 1520492 19529814 22003648 50788829 54241934 707597 13185237 249622163 272882543 39537706 45109250 210084457 227773293 BAYLOR'S MISSION IS TO FOSTER IN ITS STUDENTS BOTH THE ABILITY AND THE DESIRE TO MAKE A POSITIVE DIFFERENCE IN THE WORLD. 0 0 44059395 8355020 41759068 TOP PROGRAM SERVICE ACCOMPLISHMENT: THE BAYLOR SCHOOL EDUCATES STUDENTS IN GRADES 6-12; ENROLLMENT FOR THE 2023/24 ACADEMIC YEAR WAS 1,082. BAYLOR FULFILLS IT'S MISSION BY PROVIDING: A RICH ACADEMIC PROGRAM; A SCHOOL ROOTED IN TRADITION YET, RECEPTIVE TO CHANGE; A WIDE VARIETY OF CO-CURRICULAR EXPERIENCES; AND A BALANCE OF EMPHASES ON ACTIVITIES WHICH ENCOURAGES STUDENT GROWTH. 44059395 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 1 53 0 1 627 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 25 25 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 TN X SARAH ROSS 4232678505 171 BAYLOR SCHOOL ROAD CHATTANOOGA TN 37405 JAMES C HUDSON TRUSTEE 2.00 X 0 0 0 G MATTHEW BROCK DDS TRUSTEE 2.00 X 0 0 0 G LEYDEN PUGH JR TRUSTEE 2.00 X 0 0 0 FREDERICK HARVERY HOWALT III TRUSTEE 2.00 X 0 0 0 DAVID Y SMITH TRUSTEE 2.00 X 0 0 0 ALEXIS G BOGO BOARD CHAIR 2.00 X X 0 0 0 BROOKE MOORE TRUSTEE 2.00 X 0 0 0 CHRISTIE DILLARD TRUSTEE 2.00 X 0 0 0 BOB BULLARD TRUSTEE 2.00 X 0 0 0 BENJAMIN P BROWN TRUSTEE 2.00 X 0 0 0 BEN FISCHER TRUSTEE 2.00 X 0 0 0 ALLISON EDGMON CROMIE TRUSTEE 2.00 X 0 0 0 ROB HEADRICK MD TRUSTEE 2.00 X 0 0 0 KARA ASHBURN TRUSTEE 2.00 X 0 0 0 JOHN G REID TRUSTEE 2.00 X 0 0 0 JASON SOSS TRUSTEE 2.00 X 0 0 0 LOCK REDDICK TRUSTEE 2.00 X 0 0 0 PAMELA L MCKENNEY TRUSTEE 2.00 X 0 0 0 RICHARD R HAYS TRUSTEE 2.00 X 0 0 0 SCOTT L PROBASCO III TRUSTEE 2.00 X 0 0 0 WARD DAVENPORT TRUSTEE 2.00 X 0 0 0 WILLIAM R IRELAND JR TRUSTEE 2.00 X 0 0 0 ALEXANDER GUERRY III TRUSTEE 2.00 X 0 0 0 JOHN FREDERICK AKERS TRUSTEE 2.00 X 0 0 0 DAVID L KNOX TRUSTEE 2.00 X 0 0 0 CHRIS ANGEL HEAD OF SCHOOL 40.00 X 748249 0 101622 DALLAS W JOSEPH JR TREASURER & CFO 40.00 X 351402 0 31622 SARAH ROSS CONTROLLER 40.00 X 124791 0 1049 CARTER LYNCH SECRETARY - (NONVOTING) 2.00 X 0 0 0 SHAW WILSON ASSISTANT HEAD OF SCHOOL 40.00 X 192285 0 1622 DONALD CURTIS PHYSICAL PLANT DIRECTOR 40.00 X 157523 0 1316 WILLIAM MONTGOMERY DEAN OF FACULTY 40.00 X 150621 0 1360 ERIK KIMREY HEAD FOOTBALL COACH 40.00 X 165207 0 1259 MARK PRICE ATHLETIC DIRECTOR 40.00 X 155501 0 1177 WILLIS MURDOCK III DIRECTOR OF FINANCIAL AID 40.00 X 149919 0 1250 MATT LEWIS PLANNED AND MAJOR GIFT OFFICER 40.00 X 146474 0 1542 SCOTTY SMITH HEAD OF RESIDENTIAL LIFE 40.00 X 140736 0 1259 BARBARA KENNEDY DIRECTOR OF EXTERNAL AFFAIRS 40.00 X 134425 0 1360 AUSTIN CLARK ASSISTANT DEAN OF UPPER SCHOOL 40.00 X 129681 0 0 2746814 0 146438 18 0 1 0 MORGAN CONSTRUCTION CO INC PO BOX 4404 CHATTANOOGA TN 37405 CONSTRUCTION SERVICES 4035134 SODEXO POBOX 360170 PITTSBURGH PA 152516170 FOOD SERVICES 2670296 TIAA-CREF TRUST COMPANY FSB POBOX 105316 ATLANTA GA 30348 FINANCIAL SERVICES 2501428 MOUNTAIN CITY LANDSCAPE 4156 S CREEK RD CHATTANOOGA TN 37406 LANDSCAPING & CUSTODIAL 1706248 TRI-STATE ROOFING CONTRACTORS LLC 3126 ALTON PARK BLVD CHATTANOOGA TN 37410 CONSTRUCTION SERVICES 1148771 16 56075 13730264 5827091 13786339 TUITION & FEES 611710 38589000 38589000 AUXILIARY INCOME 611710 2553356 2553356 OTHER PROGRAM INCOME 611710 554915 554915 41697271 2794140 2794140 6675 0 6675 6675 6675 21451872 12348996 169157 9102876 -169157 8933719 8933719 156950 56075 9720 147230 147230 373863 312066 61797 61797 67427171 41759068 0 11881764 7510620 7510620 844400 844400 1224749 958832 214076 51841 19828130 15142549 3772112 913469 1254844 982393 219336 53115 131631 103051 23008 5572 1443912 1192662 190581 60669 250293 250293 550000 550000 132952 132952 337912 337912 616638 147618 468943 77 2290556 1771757 344557 174242 28256 27505 751 1469560 1267276 174828 27456 590192 2550 587642 4562729 4433604 120456 8669 557368 557368 MAINTENANCE & REPAIRS 2431074 2209618 212312 9144 CONTRACT SERVICES 2281879 2217301 60242 4336 FOOD SERVICE 2141974 2141974 OTHER ADMINISTRATIVE EX 1958525 1102699 647352 208474 1803740 1752693 47619 3428 54241934 44059395 8662047 1520492 34684913 37718833 2124160 6062263 56577 1179250 235663 259589 656469 407169 142742447 73479092 66081770 69263355 143259422 153492044 2523189 4500040 249622163 272882543 2777269 3766378 18234133 21382119 17850275 17852825 676029 2107928 39537706 45109250 X 137425726 144011457 72658731 83761836 210084457 227773293 249622163 272882543 X 13185237 4171459 332140 X X 0 1 X 1 0 X 6123851 5408630 9452011 11296940 13786339 46067771 6123851 5408630 9452011 11296940 13786339 46067771 13184570 32883201 1987037 643180 3207178 1843822 2800815 10482032 8232 117251 -34798 -62858 0 27827 85785 805542 531079 372562 373863 2168831 58746461 191511945 0.55970 0.53160 X SCHEDULE A, PART I, BOX 2 & 7 BAYLOR SCHOOL IS DETERMINED TO BE A PUBLIC CHARITY BECAUSE IT IS A SCHOOL DESCRIBED IN SECTION 170(B)(1)(A)(II). SCHEDULE E HAS BEEN COMPLETED AND ATTACHED. FOR PURPOSES OF SCHEDULE A, THE ORGANIZATION HAS COMPLETED PART II IN ORDER TO COMPLETE THE SPECIAL RULE ON SCHEDULE B AND DISCLOSE DONORS GREATER THAN 2% INSTEAD OF ALL DONORS GREATER THAN $5,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 139380148 1898398 13751027 5834866 164709 149029998 134131334 1426415 9592682 5565042 205241 139380148 164176847 2390201 -30186301 2115650 133763 134131334 127573710 2298345 39693181 5399204 138169 164176847 129398794 2650460 777302 5136020 116826 127573710 0.56460 0.27116 0.16424 0 0 2762349 2762349 118203947 54027637 64176310 18301400 18301400 0 3474751 1150055 2324696 69263355 U.S. AND GLOBAL EX U.S. EQUITY 64859772 F HEDGE FUNDS 68186509 F PRIVATE EQUITY 20445763 F 153492044 ANNUITY OBLIGATION 471509 FINANCE LEASE LIABILITY 1636419 2107928 X 65364875 4171459 706675 4878134 60486741 337912 6602518 6940430 67427171 47676039 490943 490943 47185096 337912 6718926 7056838 54241934 PART V, LINE 4: THE SCHOOL'S ENDOWMENT CONSISTS OF APPROXIMATELY 60 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY GAAP, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND RELEVANT STATE REGULATIONS. ACCORDINGLY, INCOME TAX EXPENSE IS LIMITED TO ACTIVITIES THAT ARE DEEMED BY THE INTERNAL REVENUE SERVICE TO BE UNRELATED TO THE SCHOOL'S EXEMPT PURPOSE. THE BENEFIT OF A TAX POSITION IS RECOGNIZED IN THE FINANCIAL STATEMENTS IN THE PERIOD DURING WHICH, BASED ON ALL AVAILABLE EVIDENCE, MANAGEMENT BELIEVES IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING THE RESOLUTION OF APPEALS OR LITIGATION PROCESS, IF ANY. TAX POSITIONS THAT MEET THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD ARE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT WITH THE APPLICABLE TAXING AUTHORITY. AS OF JUNE 30, 2024 AND 2023, THE SCHOOL HAS NOT RECOGNIZED LIABILITIES FOR UNCERTAIN TAX POSITIONS OR ASSOCIATED INTEREST AND PENALTIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE CSV CRT 134,360. FUNDRAISING 9,720. COST OF GOODS SOLD SHOWN AS EXPENSE ON AUDITED FINANCIALS 312,066. LOSS ON DISPOSAL OF EQUIPMENT SHOWN AS EXPENSE ON AUDITED FINANCIALS 169,157. CHANGE IN CASH SURRENDER VALUE OF LIFE INSURANCE 81,372. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED AS AN EXPENSE ON 990 6,602,518. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING 9,720. COST OF GOODS SOLD SHOWN AS EXPENSE ON AUDITED FINANCIALS 312,066. LOSS ON DISPOSAL OF EQUIPMENT SHOWN AS EXPENSE ON AUDITED FINANCIALS 169,157. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED AS AN EXPENSE ON 990 6,602,518. INTEREST RATE SWAP LOSS 116,408. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL'S ADMISSION BROCHURES AND OTHER PRINTED MATERIALS INCLUDE THE NONDISCRIMINATION POLICY. THE POLICY IS ALSO INCLUDED ON THE SCHOOL'S WEBSITE. 0 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 19555882 0 0 0 0 0 0 19555882 0 19555882 FINANCIAL AID SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 3 100500 TUITION CREDITS, NO CASH DISBURSED BOOK FINANCIAL AID EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 6 238600 TUITION CREDITS, NO CASH DISBURSED BOOK FINANCIAL AID EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 2 75000 TUITION CREDITS, NO CASH DISBURSED BOOK FINANCIAL AID NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 8 430300 TUITION CREDITS, NO CASH DISBURSED BOOK 0 0 0 0 1 0 PART I, LINE 2: APPLICANT FAMILIES ARE REQUIRED TO SUBMIT TAX AND FINANCIAL DATA ANNUALLY. EVALUATION OF THE DEMONSTRATED NEED IS DONE BOTH BY A THIRD-PARTY SOFTWARE VENDOR AND AN INTERAL FINANCIAL AID COMMITTEE. ANY AWARDS ARE TREATED AS A CREDIT ON THE APPLICABLE STUDENT'S TUITION AND FEES ACCOUNT, NO CASH GRANTS ARE EVER AWARDED. SINCE THE RECIPIENTS DO NOT HAVE CONTROL OF THE FUNDS AT ANY POINT, NO ADDITIONAL MONITORING IS NECESSARY. ART UNCORKED AUCTION 213025 56075 156950 9720 213025 56075 156950 9720 9720 147230 1 DAY STUDENT FINANCIAL AID 211 3036229 FMV TUITION CREDIT DOMESTIC BOARDING AWARDS 64 2291990 FMV TUITION CREDIT TUITION REMISSION 77 1752502 FMV TUITION CREDIT MERIT FINANCIAL AID 30 429899 FMV TUITION CREDIT PART I, LINE 2: APPLICANT FAMILIES ARE REQUIRED TO SUBMIT TAX AND FINANCIAL DATA ANNUALLY. EVALUATION OF THE DEMONSTRATED NEED IS DONE BOTH BY A THIRD-PARTY SOFTWARE VENDOR AND AN INTERAL FINANCIAL AID COMMITTEE. ANY AWARDS ARE TREATED AS A CREDIT ON THE APPLICABLE STUDENT'S TUITION AND FEES ACCOUNT, NO CASH GRANTS ARE EVER AWARDED. SINCE THE RECIPIENTS DO NOT HAVE CONTROL OF THE FUNDS AT ANY POINT, NO ADDITIONAL MONITORING IS NECESSARY. X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 CHRIS ANGEL HEAD OF SCHOOL 649090 0 85729 0 13430 0 100000 0 1622 0 849871 0 0 0 DALLAS W JOSEPH JR TREASURER & CFO 327564 0 307 0 23531 0 30000 0 1622 0 383024 0 0 0 SHAW WILSON ASSISTANT HEAD OF SCHOOL 189281 0 304 0 2700 0 0 0 1622 0 193907 0 0 0 ERIK KIMREY HEAD FOOTBALL COACH 135576 0 20325 0 9306 0 0 0 1259 0 166466 0 0 0 DONALD CURTIS PHYSICAL PLANT DIRECTOR 156298 0 325 0 900 0 0 0 1316 0 158839 0 0 0 MARK PRICE ATHLETIC DIRECTOR 126884 0 14990 0 13627 0 0 0 1177 0 156678 0 0 0 WILLIAM MONTGOMERY DEAN OF FACULTY 146996 0 325 0 3300 0 0 0 1360 0 151981 0 0 0 WILLIS MURDOCK III DIRECTOR OF FINANCIAL AID 149919 0 0 0 0 0 0 0 1250 0 151169 0 0 0 PART I, LINE 1A THE SCHOOL PROVIDES HOUSING AND CERTAIN PERSONAL SERVICES RELATED TO THE MAINTENANCE AND CARE OF THE RESIDENCE AS PART OF THE HEAD OF SCHOOL'S EMPLOYMENT. THIS IS PROVIDED FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THE HEAD OF SCHOOL CAN PERFORM ESSENTIAL SCHOOL BUSINESS AND ACTIVITIES AT THE HOME. IN ADDITION, CERTAIN ADMINISTRATORS ARE PROVIDED WITH DISCRETIONARY SPENDING ACCOUNTS. THESE ACCOUNTS ARE TO BE USED FOR SCHOOL-RELATED EXPENDITURES AS SEEN FIT BY THE ADMINISTRATOR AND THE HEAD OF SCHOOL. THE DISCRETIONARY SPENDING ACCOUNT FOR THE CFO IS NOT PART OF AN ACCOUNTABLE PLAN, AND THEREFORE IS INCLUDED ON FORM 1099 AS TAXABLE COMPENSATION. A HEALTH EDUCATIONAL & HOUSING FACILITY BOARD 521298872 2017-09-20 22900000 REFUNDING NOTES & REVOLVING CREDIT LOAN; CAPITAL CONSTRUCTION & ACQUISITIONS 1 0 0 A 17900000 5000000 42481 17857519 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 0 1 SUNTRUST BANK 14.000000000000 0 0 0 0 0 A 0 146652 TUITION REMISSION TUITION REMISSION FOR DEPENDENT STUDENTS PATRICK BEARD SHULMAN AND JACOWAY CARTER LYNCH IS THE SECRETARY FOR THE SCHOOL AND A PARTNER AT PATRICK BEARD 165370 CARTER LYNCH IS THE SCHOOL'S PRIMARY ATTORNEY. ALL TRANSACTIONS ARE CONDUCTED AT ARMS LENGTH AND FAIR MARKET VALUE. 0 POINTER MANAGEMENT LLC WARD DAVENPORT IS TRUSTEE FOR THE SCHOOL AND A MANAGING PARTNER AT POINTER. 172462 THE SCHOOL PAID POINTER MANAGEMENT INVESTMENT MANAGEMENT FEES. ALL TRANSACTIONS ARE CONDUCTED AT ARMS LENGTH AND FAIR MARKET VALUE. 0 X 25 959207 MARKET VALUE X TOWNHOMES 1 4867884 FMV 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES OF THE BOARD, ALEXIS BOGO AND ALEXANDER GUERRY III, HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY MANAGEMENT OF THE SCHOOL WITH THE ASSISTANCE OF ELLIOTT DAVIS, LLC/PLLC. A DRAFT FORM 990 AND ALL OF THE REQUIRED SCHEDULES ARE DISTRIBUTED TO THE VP OF FINANCE, WHO REVIEWS THE RETURN WITH ELLIOTT DAVIS, LLC/PLLC. ONCE THE DRAFT IS FINALIZED, IT IS DISTRIBUTED TO THE EXECUTIVE COMMITTEE AND BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF TRUSTEES EVALUATES ALL POTENTIAL CONFLICTS OF INTEREST ON AN ANNUAL BASIS. IN THE EVENT OF A CONFLICT, THE BOARD WILL CONSIDER THE NATURE OF THE CONFLICT, AND IF WARRANTED, THE INDIVIDUAL IS ASKED TO RECUSE HIM/HERSELF FROM DISCUSSION AND VOTING. ALTERNATIVELY, IF THERE IS A POTENTIAL BUSINESS CONFLICT, THE BOARD MAY BE ASKED TO EVALUATE APPROPRIATENESS AND, IF NECESSARY, MANADATE A CHANGE TO OR DISCONTINUATION OF THE RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE SETS THE COMPENSATION FOR THE HEADMASTER. THE EXECUTIVE COMMITTEE IS DEEMED INDEPENDENT AS IT IS COMPRISED OF INDIVIDUALS THAT ARE NEITHER RELATED TO NOR SUBJECT TO THE CONTROL OF THE HEADMASTER. IN PREPARATION OF THIS DECISION, A COMPENSATION COMPARISON IS PREPARED USING DATA FROM THE NAIS. DATA IS PULLED AND ANALYZED USING A SET OF PREDETERMINED PEER SCHOOLS AND BENCHMARK SCHOOLS. COMPENSATION DISCUSSIONS FOR THE HEADMASTER, ARE DOCUMENTED IN THE EXECUTIVE COMMITTEE MINUTES. COMPENSATION FOR THE FACULTY FOLLOWS PROCEDURES OUTLINED IN THE BROADBAND SYSTEM. COMPENSATION FOR ALL OTHER EMPLOYEES ARE DETERMINED USING INDUSTRY SURVEY DATA (NAIS, NBOA, ETC.) AND MARKET ANALYSIS. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST TO THE HEAD OF SCHOOL. FORM 990, PART XI, LINE 9: CHANGE IN VALUE CSV CRT 134,360. CHANGE IN CSV LIFE INSURANCE 81,372. INTEREST RATE SWAP LOSS 116,408. FORM 990, PART XII, LINE 2C: NO CHANGE