2020-05-15T08:27:40-05:00 2019-06-30 202153727 SB & COMPANY LLC 10200 GRAND CENTRAL AVE OWINGS MILLS MD 21117 990 2018-07-01 521072250 BALTIMORE EDUCATIONAL SCHOLARSHIP TRUST BALT 4107522225 808 NORTH CHARLES STREET BALTIMORE MD 21201 JESSICA SURIANO EXECUTIVE DIRECTOR 4107522225 2020-05-15 1 PAMELA GRAY P01237506 4105840060 2020-05-15 173.64.121.61 2020-05-15 08:26:50 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 9C7A34B2BD876ED8976A7808E74DEE3BEB53D907 2018 2020-09-23 17:36:50Z JESSICA SURIANO 808 NORTH CHARLES STREET BALTIMORE MD 21201 1881997 0 X WWW.BESTTRUST.ORG X 1987 MD THE BALTIMORE EDUCATIONAL SCHOLARSHIP TRUST, IN PARTNERSHIP WITH OUR NINETEEN INDEPENDENT MEMBER SCHOOLS, RECRUITS AND SUPPORTS THROUGH THE ADMISSIONS PROCESS ACADEMICALLY AMBITIOUS, AFRICAN AMERICAN STUDENTS WITH FINANCIAL NEED FROM THE BALTIMORE AREA. ONCE STUDENTS ARE ENROLLED, B.E.S.T. POSITIONS THEM FOR SUCCESS THROUGH ACADEMIC PREPARATION, CHARACTER AND LEADERSHIP DEVELOPMENT AND SUPPORT PROGRAMS. 48 48 20 48 0 0 766168 805155 419387 429500 366201 403351 0 0 1551756 1638006 528930 566904 0 0 685736 660756 0 0 116755 352172 318315 1566838 1545975 -15082 92031 11120795 11351857 350927 352800 10769868 10999057 X THE BALTIMORE EDUCATIONAL SCHOLARSHIP TRUST, IN PARTNERSHIP WITH OUR NINETEEN INDEPENDENT MEMBER SCHOOLS, RECRUITS AND SUPPORTS THROUGH THE ADMISSIONS PROCESS ACADEMICALLY AMBITIOUS, AFRICAN AMERICAN STUDENTS WITH FINANCIAL NEED FROM THE BALTIMORE AREA. ONCE STUDENTS ARE ENROLLED, B.E.S.T. POSITIONS THEM FOR SUCCESS THROUGH ACADEMIC PREPARATION, CHARACTER AND LEADERSHIP DEVELOPMENT AND SUPPORT PROGRAMS. 0 0 1246832 566904 429500 THE THREE GREATEST ACCOMPLISHMENTS OF THE BALTIMORE EDUCATIONAL SCHOLARSHIP TRUST INCLUDE OUR ADMISSIONS SUPPORT, OUR STUDENT / PARENT PROGRAMS AND OUR FACILITATION OF PRIVATE AND PUBLIC PARTNERSHIPS. IN ADMISSIONS, WE PROVIDE INDIVIDUALIZED ADMISSIONS AND FINANCIAL AID COUNSELING TO APPLICANTS AND THEIR PARENTS. OUR STUDENT AND PARENT PROGRAMS INCLUDE ACADEMIC ENRICHMENT, LEADERSHIP DEVELOPMENT, PARENT NETWORKING AND COLLEGE-BOUND SUPPORT. IN ADDITION, B.E.S.T. BUILDS PARTNERSHIPS AND FACILITATES COLLABORATIONS BETWEEN PRIVATE AND PUBLIC EDUCATIONAL LEADERS THROUGHOUT BALTIMORE. THE TOTALITY OF OUR PROGRAMMATIC WORK SUPPORTS APPLICANT STUDENTS AND PARENTS, ENROLLED STUDENTS AND PARENTS AND THE EDUCATIONAL COMMUNITY IN BALTIMORE. 1246832 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 11 0 1 20 1 0 0 0 0 0 0 0 0 0 0 0 0 X 48 48 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 1 1 1 1 0 MD X X JILL WOOD 4107522225 808 NORTH CHARLES STREET BALTIMORE MD 21201 YOUNG KARLO G BOARD PRESIDENT 4.00 X X 0 0 0 COLLINS TIFFANI S BOARD VICE PRESIDENT 2.00 X X 0 0 0 SCHMICK JOHN E BOARD SECOND VICE PRESIDENT 2.00 X X 0 0 0 WATSON CRAIG S BOARD TREASURER 2.00 X X 0 0 0 BERRIER CHRISTOPHER A BOARD SECRETARY 2.00 X X 0 0 0 ALEXANDER TERI TRUSTEE 1.00 X 0 0 0 BLATTI CAROLINE TRUSTEE 1.00 X 0 0 0 BRUNE JEAN WALLER EMERITUS 1.00 X 0 0 0 COOPER MARINA TRUSTEE 1.00 X 0 0 0 DIXON W BOULTON TRUSTEE 1.00 X 0 0 0 EVINS PENNY B TRUSTEE 1.00 X 0 0 0 FARACE DAVID J TRUSTEE 1.00 X 0 0 0 FAUS DAVID C TRUSTEE 1.00 X 0 0 0 FINNEY REDMOND CS EMERITUS 0.00 X 0 0 0 FORD TRACEY H TRUSTEE 1.00 X 0 0 0 FOXWORTH DOMONIQUE TRUSTEE 0.00 X 0 0 0 HARVEY III F BARTON EMERITUS 0.00 X 0 0 0 HASSELBART NIKKI J TRUSTEE 1.00 X 0 0 0 HATHAWAY MOLLY M EMERITUS 0.00 X 0 0 0 HOLMGREN ANDREW B TRUSTEE 1.00 X 0 0 0 HUGHES CHRISTOPHER A TRUSTEE 1.00 X 0 0 0 HUNTER DAVID B TRUSTEE 1.00 X 0 0 0 HURLEY CHEO D TRUSTEE 2.00 X 0 0 0 HUTCHINS DIANE TRUSTEE 1.00 X 0 0 0 JACKS III GRANT EMERITUS 0.00 X 0 0 0 LAGARDE DOUGLAS TRUSTEE 1.00 X 0 0 0 LORBER TIMOTHY J TRUSTEE 1.00 X 0 0 0 MICCICHE MATTHEW W TRUSTEE 1.00 X 0 0 0 NESPOLE MATTHEW TRUSTEE 1.00 X 0 0 0 OWEN LEE S TRUSTEE 1.00 X 0 0 0 PAGE JR JAMES E TRUSTEE 1.00 X 0 0 0 PARADIS DANIEL J TRUSTEE 2.00 X 0 0 0 PERFIELD DAVID G TRUSTEE 1.00 X 0 0 0 POST CHRISTOPHER J TRUSTEE 2.00 X 0 0 0 REID JR VERNON A TRUSTEE 1.00 X 0 0 0 RODGERS THEO C EMERITUS 1.00 X 0 0 0 SADLER SUSAN T TRUSTEE 1.00 X 0 0 0 SHIFRIN BEN TRUSTEE 1.00 X 0 0 0 SIMMS STUART O EMERITUS 1.00 X 0 0 0 SMITH FLOYD O TRUSTEE 1.00 X 0 0 0 SMYTH HENRY PA TRUSTEE 1.00 X 0 0 0 SNYDER LAWRENCE TRUSTEE 1.00 X 0 0 0 STALEY ANNE TRUSTEE 1.00 X 0 0 0 STEVENS RANDY S TRUSTEE 1.00 X 0 0 0 SWEENEY MARTHA H TRUSTEE 1.00 X 0 0 0 TIMKEN JOHN H TRUSTEE 2.00 X 0 0 0 TUCK ASHLEE S TRUSTEE 1.00 X 0 0 0 WHITEHEAD PAT TRUSTEE 1.00 X 0 0 0 JESSICA SURIANO EXECUTIVE DIRECTOR 40.00 X 120000 0 7765 CRYSTAL LEE DIRECTOR OF ADVANCEMENT 40.00 X 94550 0 11981 JILL WOOD DIRECTOR OF FINANCE & OPERATION 40.00 X 77398 0 13734 ALECIA PRIDGEN DIRECTOR OF ENROLLMENT MANAGEMENT 40.00 X 75115 0 10841 367063 0 44321 1 0 0 0 0 805155 805155 SCHOOL MEMBERSHIP FEES 900099 417500 417500 APPLICATION FEES AND O 900099 12000 12000 429500 221342 221342 426000 243991 182009 182009 182009 1638006 429500 0 403351 566904 566904 411383 283854 84897 42632 164447 113468 33937 17042 7966 5496 1644 826 30758 21223 6348 3187 46202 31879 9535 4788 445 307 92 46 25933 17894 5352 2687 42570 29373 8785 4412 38376 20204 5929 12243 58466 40341 12066 6059 6079 2327 3752 351 351 5496 5496 13274 9159 2739 1376 STUDENT PROGRAMS/EVENTS 98208 98208 CULTIVATION AND STEWARD 15755 15755 BUSINESS EXPENSES 6263 4367 1247 649 PROFESSIONAL DEVELOPMEN 3755 597 218 2940 3344 1231 2113 1545975 1246832 182388 116755 218176 221823 46495 54866 14694 15054 149193 130851 16572 18342 10824858 11041772 11120795 11351857 19509 14760 331418 338040 350927 352800 X 668461 827475 4636860 4707036 5464547 5464546 10769868 10999057 11120795 11351857 92031 137158 0 X X 0 1 X 1 0 X 739089 734177 770281 766168 805155 3814870 739089 734177 770281 766168 805155 3814870 498920 3315950 164662 176055 170521 192353 221342 924933 4739803 2037586 0.69960 0.70250 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9900812 487110 437944 708473 9241505 9611825 719353 430336 9900812 8978486 1093243 459904 9611825 9459905 -29111 452308 8978486 9689524 183614 413233 9459905 0.59130 0.40870 0 0 149193 130851 18342 18342 MONEY MARKET FUNDS 1517753 F DOMESTIC US STOCKS/FUNDS 5127999 F INTERNATIONAL (NON U.S.) STOCKS/FUNDS 1395920 F FIXED INCOME 3000100 F 11041772 DISTRIBUTIONS PAYABLE TO SCHOOLS 334000 CAPITAL LEASE 4040 338040 X 1775164 137158 137158 1638006 0 1638006 1545975 0 1545975 0 1545975 PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IN ADDITION, THE INTERNAL REVENUE SERVICES HAS DETERMINED THE ORGANIZATION IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE CODE. THE ORGANIZATION FOLLOWS THE PROVISION OF ACCOUNTING OF UNCERTAINTY IN INCOME TAX UNDER THE INCOME TAXES TOPICS OF THE CODIFICATION. THE CODIFICATION REQUIRES THE EVALUATION OF TAX POSITIONS, WHICH INCLUDE MAINTAINING ITS TAX-EXEMPT STATUS AND THE TAXABILITY OF ANY UNRELATED BUSINESS INCOME, AND DOES NOT ALLOW RECOGNITION OF TAX POSITIONS WHICH DO NOT MEET A "MORE-LIKELY-THAN-NOT" THRESHOLD OF BEING SUSTAINED BY THE APPLICABLE TAX AUTHORITY. MANAGMENT DOES NOT BELIEVE IT HAS TAKEN ANY TAX POSITIONS THAT WOULD NOT MEET THIS THRESHOLD. 1 BRYN MAWR SCHOOL 109 W MELROSE AVE BALTIMORE MD 21210 520591604 501(C)(3) 32034 SHDF, FA GIFT CALVERT SCHOOL 105 TUSCANY RD BALTIMORE MD 21210 520591463 501(C)(3) 24210 SHDF, FA GIFT FRIENDS SCHOOL OF BALTIMORE 5114 NORTH CHARLES ST BALTIMORE MD 21210 520976194 501(C)(3) 47767 SHDF, FA GIFT , GAP FUNDING GRANT, EMERGENCY FUND, STANLEY PANITZ AWARD GARRISON FOREST SCHOOL 300 GARRISON FOREST RD OWINGS MILLS MD 21117 520258140 501(C)(3) 38531 SHDF, FA GIFT , CHICK LORD SCHOLAR, EMERGENCY FUND, STUART O. SIMMS PRES FUND GILMAN SCHOOL 5407 ROLAND AVE BALTIMORE MD 21210 520591631 501(C)(3) 44425 SHDF, FA GIFT , EMERGENCY FUND, STUART O SIMMS PRES FUND JEMICY SCHOOL 11 CELADON RD OWINGS MILLS MD 21117 520735085 501(C)(3) 23698 SHDF, FA GIFT , GAP FUNDING GRANT, STUART O. SIMMS PRES FUND, STANLEY PANITZ AWARD KEY SCHOOL 543 HILLSMERE DR ANNAPOLIS MD 21403 520591625 501(C)(3) 19228 SHDF, FA GIFT MARYVALE PREPARATORY SCHOOL 11300 FALLS RD LUTHERVILLE MD 21093 520591516 501(C)(3) 22892 SHDF, FA GIFT , EMERGENCY FUND, STUART O. SIMMS PRES FUND MCDONOGH SCHOOL PO BOX 380 OWINGS MILLS MD 21117 520709497 501(C)(3) 41928 SHDF, FA GIFT , CHICK LORD SCHOLAR, EMERGENCY FUND OLDFIELDS SCHOOL 1500 GLENCOE RD GLENCOE MD 21152 526001577 501(C)(3) 16014 SHDF, FA GIFT PARK SCHOOL OF BALTIMORE PO BOX 8200 BROOKLANDVILLE MD 21022 520591602 501(C)(3) 34297 SHDF, FA GIFT , EMERGENCY FUND, STUART O. SIMMS PRES FUND ROLAND PARK COUNTRY SCHOOL 5204 ROLAND AVE BALTIMORE MD 21210 520591510 501(C)(3) 43017 SHDF, FA GIFT , GAP FUNDING GRANT, EMERGENCY FUND SEVERN SCHOOL INC 20 WATER STREET SEVERNA PARK MD 21146 520591466 501(C)(3) 22098 SHDF, FA GIFT ST PAUL'S SCHOOL 11152 FALLS RD BROOKLANDVILLE MD 21022 521160935 501(C)(3) 38978 SHDF, FA GIFT , STUART O. SIMMS PRES FUND ST PAUL'S SCHOOL FOR GIRLS 11232 FALLS RD BROOKLANDVILLE MD 21022 520591466 501(C)(3) 30822 SHDF, FA GIFT , EMERGENCY FUND CORPORATION OF ST TIMOTHY'S SCHOOL 8400 GREENSPRING AVE STEVENSON MD 21153 520591645 501(C)(3) 26428 SHDF, FA GIFT , EMERGENCY FUND THE BOYS' LATIN SCHOOL OF MARYLAND 822 W LAKE AVE BALTIMORE MD 21210 520701774 501(C)(3) 35282 SHDF, FA GIFT , EMERGENCY FUND WALDORF SCHOOL OF BALTIMORE 4801 TAMARIND RD BALTIMORE MD 21209 237305478 501(C)(3) 16842 SHDF, FA GIFT 18 PART I, LINE 2: WHEN B.E.S.T. PROVIDES GRANTS FOR ANNUAL FUND GIFTS, THE SCHOOL HEAD'S DISCRETIONARY FUND, EMERGENCY FUND, CHICK LORD SCHOLAR, GAP FUND, THE STUART O. SIMMS PRESIDENT'S FUND AND THE STANLEY I PANITZ AWARD, WE SEND A CHECK AND A LETTER TO EACH OF THE SCHOOLS, STATING THE INTENDED USE OF THE MONEY BEING SENT TO THE SCHOOLS. ANNUAL FUND GIFTS ARE PROVIDED TO OUR MEMBER SCHOOLS TO SUPPORT STUDENT FINANCIAL AID. THE ANNUAL FUND GIFT LETTERS STATE THE AMOUNT OF THE GRANT AWARDED TO EACH SCHOOL AS A DIRECTED GIFT TO THE SCHOOL'S FINANCIAL AID BUDGET. THE PURPOSE OF THE SCHOOL HEAD'S DISCRETIONARY FUND (SHDF) AT THE BALTIMORE EDUCATIONAL SCHOLARSHIP TRUST IS TO PROVIDE SCHOOL HEADS AUXILIARY FUNDING TO SUPPORT B.E.S.T. STUDENTS ON THEIR CAMPUSES. THE SUPPORT CAN INCLUDE NECESSARY SERVICES AS WELL AS EXPERIENTIAL LEARNING OPPORTUNITIES AT THE DISCRETION OF THE SCHOOL HEAD. THE FUNDS MAY NOT BE USED TO SUPPLEMENT TUITION. EACH YEAR THE SCHOOL MUST SUBMIT A DETAILED REPORT TO B.E.S.T. ON HOW THE FUNDS WERE USED. EMERGENCY FUNDS ARE PROVIDED TO OUR MEMBER SCHOOLS TO SUPPORT B.E.S.T. STUDENTS CURRENTLY ENROLLED WHO EXPERIENCE FINANCIAL DIFFICULTIES WITH REGARDS TO MEETING THEIR TUITION OBLIGATION. THE REQUESTS FOR EMERGENCY FUNDING COME FROM THE SCHOOL. EMERGENCY FUND GRANT LETTERS STATE THE AMOUNT OF TUITION ASSISTANCE AND THE STUDENT'S NAME. THE FUND PROVIDES TUITION SUPPORT AND ALLOWS STUDENTS TO REMAIN ENROLLED AT THEIR SCHOOL. CHICK LORD SCHOLAR GIFTS ARE PROVIDED TO THE SPECIFIC MEMBER SCHOOL WITH A CHICK LORD SCHOLAR. B.E.S.T. PAYS 75% OF THE PARENT PORTION OF TUITION FOR THE CHICK LORD SCHOLAR. THERE WERE TWO CHICK LORD SCHOLARS FOR FISCAL YEAR 2019. THE CHICK LORD SCHOLARS ATTENDED GARRISON FOREST SCHOOL AND MCDONOGH SCHOOL. GAP FUNDS ARE A ONE-TIME GRANT TO MEMBER SCHOOLS. THESE GRANTS HELP A NEW B.E.S.T. APPLICANT TO ENROLL AT THEIR NEW MEMBER SCHOOL. B.E.S.T. PAYS A PORTION OF THE TUITION TO SUPPORT THE STUDENT DURING THEIR INITIAL ENROLLMENT YEAR, AND THE SCHOOL MAKES A COMMITMENT TO COVER THE DIFFERENCE MOVING FORWARD. GAP FUNDING GRANT LETTERS STATE THE AMOUNT AND THE STUDENT'S NAME. THE STANLEY I. PANITZ LEADERSHIP AWARD IS PRESENTED ANNUALLY TO 2 STUDENTS SELECTED FROM THE ENTIRE POOL OF B.E.S.T. JUNIORS ATTENDING OUR MEMBER SCHOOLS. STUDENTS ARE NOMINATED TO RECEIVE THE STANLEY I. PANITZ LEADERSHIP AWARD BY THEIR HEAD OF SCHOOL DURING THE SECOND SEMESTER OF THEIR JUNIOR YEAR. THE RECIPIENTS OF THE AWARD ARE ONE B.E.S.T. YOUNG WOMAN AND ONE B.E.S.T. YOUNG MAN, IN RECOGNITION OF THEIR ACADEMIC ACHIEVEMENT AND DEMONSTRATED LEADERSHIP IN BOTH THEIR SCHOOL AND THE BROADER BALTIMORE COMMUNITY. THE AWARD IS A $1,000 DIRECTED GIFT FROM THE STANLEY I. PANITZ LEADERSHIP FUND OF B.E.S.T. TO EACH RECIPIENT'S INDEPENDENT SCHOOL TO BE APPLIED TO THE FAMILY CONTRIBUTION OF THEIR STUDENT'S SENIOR YEAR TUITION. THE STUART O. SIMMS PRESIDENT'S FUND PROVIDES SPECIAL FUNDING FOR THOSE EXPENSES THAT HEAD'S DISCRETIONARY FUND AND EMERGENCY FUND CANNOT COVER DUE TO RESTRICTIONS OR LIMITS TO THOSE FUNDING STREAMS. THE STUART O. SIMMS PRESIDENT'S FUND IS AVAILABLE FOR SPECIAL CIRCUMSTANCES THAT THE B.E.S.T. STUDENT MAY ENCOUNTER DURING THEIR TENURE AT THEIR MEMBER SCHOOL. EXAMPLES OF THOSE EXPENSES INCLUDE BUT ARE NOT LIMITED TO SIGNIFICANT TRANSPORTATION COSTS; THE OPPORTUNITY TO TAKE PART IN AN INTERNATIONAL OR NATIONAL PROGRAM; AND PSYCHOEDUCATIONAL TESTING. COPIES OF THE CHECKS AND THE GRANT LETTERS SENT TO THE SCHOOLS ARE MAINTAINED IN FILES IN B.E.S.T.'S FINANCE DEPARTMENT. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS DISTRIBUTED TO THE AD-HOC AUDIT COMMITTEE OF THE BOARD SO THEY MAY REVIEW, EDIT, AND APPROVE THE DOCUMENT. ONCE THE DRAFT IS REVIEWED, EDITED, AND APPROVED, THE FORM 990 IS DISTRIBUTED TO THE FINANCE COMMITTEE. ONCE THE FINANCE COMMITTEE APPROVES THE DOCUMENT, THE FORM 990 IS CONSIDERED COMPLETE AND THE EXECUTIVE DIRECTOR SIGNS THE FINAL VERSION. FORM 990, PART VI, SECTION B, LINE 12C ALL TRUSTEES ARE REQUIRED EACH YEAR TO SIGN THE CONFLICT OF INTEREST POLICY. THE SIGNED FORMS ARE STORED AT B.E.S.T. IN THE TRUSTEE'S CONFIDENTIAL FILES IN THE EXECUTIVE OFFICE. IF A CONFLICT EXISTS WITH A TRUSTEE, THE BOARD PRESIDENT, IN CONJUNCTION WITH THE EXECUTIVE COMMITTEE, WOULD REVIEW. IF A CONFLICT EXISTS WITH THE BOARD PRESIDENT, THE EXECUTIVE COMMITTEE WOULD REVIEW. ALL EMPLOYEES SIGN THE CONFLICT OF INTEREST POLICY EVERY YEAR AND THEIR FORMS ARE FILED IN THEIR PERSONNEL FILES. IF A CONFLICT EXISTS WITH AN EMPLOYEE, THE EXECUTIVE DIRECTOR WOULD REVIEW WITH THE BOARD PRESIDENT. IF A CONFLICT OF INTEREST EXISTS WITH THE EXECUTIVE DIRECTOR, THE BOARD CHAIR IN CONJUNCTION WITH THE EXECUTIVE COMMITTEE WOULD REVIEW. FORM 990, PART VI, SECTION B, LINE 15 RESEARCH OF SALARIES FOR SIMILAR POSITIONS AND SIMILAR ORGANIZATIONS IS REVIEWED AND COMPARED EVERY FEW YEARS. THE BOARD PRESIDENT AND EXECUTIVE COMMITTEE REVIEWED THE SALARY OF THE EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTOR REVIEWED THE SALARY FOR THE ADMISSIONS AND DATA BASE MANAGER, THE DIRECTOR OF ENROLLMENT MANAGEMENT, THE DIRECTOR OF FINANCE AND OPERATIONS, THE DIRECTOR OF ADVANCEMENT, THE DIRECTOR OF PROGRAMS AND ALUMNI RELATIONS, AND THE DEVELOPMENT AND PROGRAM ASSOCIATE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990 PART X LINE 27 AND 28, FORM 990 SCHEDULE D PART V, LINE 1E DURING FISCAL YEAR 2019, THE ORGANIZATION DETERMINED THAT PREVIOUSLY REPORTED ACCUMULATED ENDOWMENT EARNINGS PRIOR TO JUNE 30, 2012 WERE GREATER THAN THE ACTUAL EARNINGS ON THE ENDOWMENT PORTFOLIO. THE EFFECT OF THE RESTATEMENT WAS TO RECLASSIFY $177,733 FROM NET ASSETS WITH DONOR RESTRICTIONS TO NET ASSETS WITHOUT DONOR RESTRICTIONS. ALSO, THE ORGANIZATION REEVALUATED THE ENDOWMENT PORTFOLIO AND NOTED THAT THE CHICK LORD PORTFOLIO SHOULD NOT HAVE BEEN CLASSIFIED WITH THE ENDOWMENT PORTFOLIO. THE ADJUSTMENT IMPACTED ENDOWMENT EARNINGS FROM FISCAL YEAR 2016 THROUGH 2019. THIS CREATED AN ADDITIONAL RECLASS OF $530,740 FOR THE CURRENT TAX YEAR. THE RECLASS OF $708,473 ($177,733 + $530,740) WAS INCLUDED IN THE SCHEDULE D PART V, LINE 1E AS REDUCTION TO THE ENDOWMENT FUNDS.