2019-04-29T14:33:17-05:00 2018-06-30 363168081 SIKICH LLP 274 WHITE POND DRIVE AKRON OH 443201118 990 2017-07-01 340714451 LAUREL SCHOOL LAUR 2164641441 1 LYMAN CIRCLE SHAKER HEIGHTS OH 44122 DIANE BREZOVEC CHIEF FINANCIAL OFFICER 2164641441 2019-04-25 1 JILL M BOYLE CPA P01246734 3308646661 2019-04-22 104.129.153.194 2019-04-25 11:42:35 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 8821E6CFD89FC90DAC3D2AB1F912817A898D87FB 2017 2019-02-21 02:37:17Z ANN V KLOTZ 1 LYMAN CIRCLE SHAKER HEIGHTS OH 44122 37864376 0 X WWW.LAURELSCHOOL.ORG X 1926 OH THE MISSION OF LAUREL SCHOOL IS TO INSPIRE EACH GIRL TO FULFILL HER PROMISE AND TO BETTER THE WORLD. 28 28 340 58 252 252 2859894 3159966 17659505 18137590 2087970 2630405 -16845 46883 22590524 23974844 3378854 3552521 0 0 13037642 13436444 0 0 1057358 7700368 7969632 24116864 24958597 -1526340 -983753 83225489 82442398 23261996 21465885 59963493 60976513 THE MISSION OF LAUREL SCHOOL IS TO INSPIRE EACH GIRL TO FULFILL HER PROMISE AND TO BETTER THE WORLD. 0 0 20919993 3552521 18137590 LAUREL SCHOOL FOUNDED IN 1896, IS A NATIONALLY-RECOGNIZED COLLEGE PREPARATORY, INDEPENDENT DAY SCHOOL FOR GIRLS, KINDERGARTEN THROUGH GRADE 12, WITH A COEDUCATIONAL EARLY CHILDHOOD PROGRAM. LAUREL SCHOOL HAS TWO CAMPUSES AFFORDING STUDENTS OPPORTUNITIES TO LEARN IN TRADITIONAL SETTINGS SUCH AS LABS, STUDIOS, AND LIBRARIES, AS WELL AS IN OUR UNIQUE ENVIRONMENTAL CLASSROOMS. THE LYMAN CIRCLE CAMPUS IS HOME TO ALL FOUR ACADEMIC DIVISIONS. THE BUTLER CAMPUS FEATURES EXTENSIVE ATHLETIC FACILITIES AND OPPORTUNITIES FOR OUTDOOR EDUCATION AND LEADERSHIP-BUILDING PROGRAMS. LAUREL SCHOOL HAS APPROXIMATELY 610 STUDENTS ENROLLED. 20919993 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 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 1 1 1 340 1 1 1 0 0 0 0 1 1 0 0 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X DIANE ILKANIC BREZOVEC 2164641441 1 LYMAN CIRCLE SHAKER HEIGHTS OH 44122 DANIEL DESANTIS DIRECTOR 2.00 X 0 0 0 LYNNETTE JACKSON CHAIR 2.00 X X 0 0 0 MARY WEATHERHEAD FELDMAN DIRECTOR 2.00 X 0 0 0 VICTORIA ANDERSON DIRECTOR 2.00 X 0 0 0 MICHAEL BEE DIRECTOR 2.00 X 0 0 0 MARILYN EISELE DIRECTOR 2.00 X 0 0 0 HUBERT FERNANDEZ DIRECTOR 2.00 X 0 0 0 DAVID FLESHLER SECRETARY 2.00 X X 0 0 0 CAREY JAROS TREASURER 2.00 X X 0 0 0 MICHAEL ANNE JOHNSON DIRECTOR 2.00 X 0 0 0 RACHEL KIRSH DIRECTOR 2.00 X 0 0 0 TERRY HORVITZ KOVEL DIRECTOR 2.00 X 0 0 0 ARNELLE MARTIN DIRECTOR 2.00 X 0 0 0 JACQUELYN NANCE DIRECTOR 2.00 X 0 0 0 JOHN REED DIRECTOR 2.00 X 0 0 0 ELIZA HATCH SAADA DIRECTOR 2.00 X 0 0 0 NANCY PHELPS SEITZ DIRECTOR 2.00 X 0 0 0 SANDHIA VARYANI DIRECTOR 2.00 X 0 0 0 LAURENCE TALLEY DIRECTOR 2.00 X 0 0 0 PETER RICHER DIRECTOR 2.00 X 0 0 0 JACK KOCH DIRECTOR 2.00 X 0 0 0 ELIZABETH EMBRESCIA DIRECTOR 2.00 X 0 0 0 MEGAN LUM MEHALKO DIRECTOR 2.00 X 0 0 0 CHAUNDRA KING MONDAY DIRECTOR 2.00 X 0 0 0 SUZANNE SCHULZE TAYLOR DIRECTOR 2.00 X 0 0 0 KRISTINE SWAILS BRYAN VICE CHAIR 2.00 X X 0 0 0 DIANE DOWNING DIRECTOR 2.00 X 0 0 0 MELISSA O'DWYER DIRECTOR 2.00 X 0 0 0 ANN V KLOTZ HEAD OF SCHOOL 40.00 X 404247 0 45337 DIANE BREZOVEC CHIEF FINANCIAL OFFICER 40.00 X 141968 0 32172 BENJAMIN LIGHT DIRECTOR OF ADVANCEMENT 40.00 X 118190 0 28844 KATHRYN PURCELL ASSOCIATE HEAD OF SCHOOL 40.00 X 100553 0 24036 764958 0 130389 4 0 1 0 COMPASS GROUP USA INC 1224 PERKINS AVE NW CANTON OH 44703 FOOD SERVICE 815783 COMDATA 5301 MARYLAND WAY BRENTWOOD TN 37027 CREDIT CARDS AND PROCESSING FEES 482355 CALFEE HALTER GRISWOLD LLP 1405 E 6TH ST CLEVELAND OH 44114 LEGAL 236875 3 112103 700593 2347270 183817 3159966 TUITION AND FEES 611600 16971343 16971343 AUXILIARY SERVICES 900099 869017 869017 OTHER OPERATION REVENUE 900099 297230 297230 18137590 845727 252 845475 15552107 13767429 1784678 1784678 1784678 155636 112103 112103 43533 43533 13350 10000 3350 3350 23974844 18137590 252 2677036 3552521 3552521 662472 537486 92263 32723 9202173 7466032 1281596 454545 338377 274537 47126 16714 2485267 2016381 346126 122760 748155 607004 104196 36955 101841 82627 14184 5030 49500 40161 6894 2445 189666 153883 26415 9368 670136 543704 93330 33102 557413 452248 77631 27534 357194 289804 49747 17643 146888 119175 20457 7256 826280 670389 115077 40814 1436908 1165812 200120 70976 185144 150214 25785 9145 SCHOOL PROGRAM EXPENSES 1171735 950668 163189 57878 EQUIP RENTAL & MAINT 818622 664176 114010 40436 FOOD SERVICE 705583 572463 98267 34853 OUTSIDE CONTRACTED SERV 489957 397518 68237 24202 262765 213190 36596 12979 24958597 20919993 2981246 1057358 797481 1189360 1466861 1650611 2309300 1897581 296794 368038 674579 560888 48407405 25739974 23856901 22667431 45209541 44305914 7723047 8911767 890985 890808 83225489 82442398 1667289 1432490 1438917 1111694 15633209 15651114 136922 109251 4385659 3161336 23261996 21465885 X 28479684 29396935 9937750 9875562 21546059 21704016 59963493 60976513 83225489 82442398 X -983753 1063480 933293 X 0 1 X 1 0 X 52592402 152644 3687429 3423409 53009066 47805348 401688 7180317 2794951 52592402 51658509 221742 -1772412 2302491 47805348 50737977 629912 696919 2088739 49976069 44822525 469162 7515385 2069095 50737977 0.48350 0.39320 0.12330 0 0 2690685 2690685 42339829 23043371 19296458 3202133 2696603 505530 174758 174758 22667431 LIMITED PARTNERSHIPS 8911767 F 8911767 TUITION DEPOSITS 348653 INTEREST RATE SWAP LIABILITY 2812683 3161336 X 21485803 1063480 1063480 20422323 3552521 3552521 23974844 21406076 0 21406076 3552521 3552521 24958597 PART V, LINE 4: INTENDED USE OF ENDOWMENT FUNDS - DISTRIBUTIONS FROM ENDOWMENT FUNDS ARE SPENT IN COMPLIANCE WITH THE DONOR'S RESTRICTIONS APPLICABLE TO THE FUNDS BEING DISTRIBUTED. ANNUAL DISTRIBUTIONS FROM ENDOWMENT FUNDS ARE DETERMINED USING A MIXED SPENDING RULE OF 80 PERCENT OF THE PRIOR YEAR SPENDING AND 20 PERCENT OF THE 5 PERCENT SPENDING RATE TIMES THE ENDOWMENT MARKET VALUE. ALL EXPENDITURES FROM THE ENDOWMENT FUNDS ARE USED TO FURTHER THE EDUCATIONAL PURPOSES OF THE SCHOOL. PART X, LINE 2: THE SCHOOL IS A NONPROFIT ORGANIZATION THAT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE CURRENT PROVISIONS OF THE INTERNAL REVENUE CODE, SECTION 501(C)(3). THEREFORE, NO PROVISION FOR FEDERAL AND STATE INCOME TAXES HAS BEEN RECORDED IN THE STATEMENTS. THE SCHOOL IS NOT CLASSIFIED AS A PRIVATE FOUNDATION. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 3,552,521. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT FINANCIAL AID 3,552,521. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ALL FORMS OF ADVERTISING HAVE A CALL TO ACTION LEADING PEOPLE TO OUR WEBSITE WHERE THE INFORMATION IS STATED. ADDITIONALLY, ONCE A FAMILY INQUIRES AND RECEIVES AN ADMISSIONS PACKET, THEY RECEIVE THE VIEWBOOK THAT ALSO INCLUDES THE E&I STATEMENT. SCHEDULE E, PART I, LINE 6 ASSISTANCE FROM GOVERNMENTAL AGENCY - LAUREL SCHOOL RECEIVES FUNDING FROM THE STATE OF OHIO FOR SALARIES AND PROFESSIONAL FEES AND TO REIMBURSE THE SCHOOL FOR STATE-MANDATED SERVICES. GATOR BASH 267739 112103 155636 59849 12400 39854 N/A 0 267739 112103 155636 59849 12400 39854 112103 43533 1 SCHOLARSHIPS 357 3552521 PART I, LINE 2: MONITORING USE OF GRANT FUNDS - THE SCHOOL CREDITS THE BILLING ACCOUNT OF EACH RECIPIENT FOR THE AMOUNT OF THE SCHOLARSHIP IN THIS WAY, THE SCHOOL IS ASSURED THAT THE SCHOLARSHIPS ARE USED FOR THE INTENDED PURPOSE OF DEFRAYING EDUCATIONAL EXPENSES FOR EACH RECIPIENT. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 ANN V KLOTZ HEAD OF SCHOOL 404247 0 0 0 0 0 17229 0 28108 0 449584 0 0 0 DIANE BREZOVEC CHIEF FINANCIAL OFFICER 141968 0 0 0 0 0 3800 0 28372 0 174140 0 0 0 PART I, LINE 1A BENEFITS PROVIDED TO CERTAIN INDIVIDUALS - THE SCHOOL PROVIDES A HOUSE TO THE HEAD OF SCHOOL, ANN KLOTZ, BECAUSE SHE CONDUCTS A SUBSTANTIAL AMOUNT OF SCHOOL BUSINESS IN HER RESIDENCE. THE HOUSE IS ON THE SCHOOL'S SHAKER HEIGHTS CAMPUS AND BECAUSE OF THE SUBSTANTIAL BUSINESS USE OF THE RESIDENCE, THE SCHOOL DOES NOT TREAT THIS BENEFIT AS TAXABLE TO MS. KLOTZ. A CLEVELAND-CUYAHOGA COUNTY PORT AUTHORITY 341029691 186102AB5 2008-04-10 16000000 EDUCATIONAL FACILITY BONDS 0 0 0 A 16000000 271037 6546571 9105000 53307 2011 1 0 0 0 A 0 0 0 0 0 0 0 A 0 0 0 1 1 1 PIPER JAFFRAY 30.000000000000 0 0 0 0 0 A 0 X 41 183817 FMV 0 1 1 PART I, LINE 32B: USE OF THIRD PARTIES - DONORS MAKING A GIFT OF SECURITIES TO LAUREL SCHOOL ARE DIRECTED TO TRANSFER THEIR SHARES OF STOCK TO THE SCHOOL'S ACCOUNT AT UBS FINANCIAL SERVICES. UBS IS INSTRUCTED TO SELL ALL SECURITIES TRANSFERRED TO THE ACCOUNT AND TO FORWARD THE PROCEEDS TO THE SCHOOL. THE FEES CHARGED BY UBS ARE AT FAIR MARKET VALUE AND ARE IN ACCORDANCE WITH FEES CHARGED TO OTHER UBS CLIENTS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW - THE BOARD OF TRUSTEES HAS DELEGATED THE RESPONSIBILITY TO REVIEW FORM 990 PRIOR TO ITS FILING TO THE AUDIT/FINANCE COMMITTEE. THE INDEPENDENT ACCOUNTING FIRM ASSISTS WITH THIS REVIEW. DISTRIBUTION OF FORM 990 TO GOVERNING BODY - THE SCHOOL DISTRIBUTES A COPY OF FORM 990 TO ALL BOARD MEMBERS BUT REDACTS THE NAMES AND ADDRESSES OF DONORS FROM SCHEDULE B. THE SCHOOL HAS CHOSEN NOT TO DISCLOSE THE IDENTITY OF ITS DONORS, PARTICULARLY IN CASES IN WHICH THE DONOR WANTS TO REMAIN ANONYMOUS. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCEMENT OF CONFLICT POLICY - CONFLICTS ARE IDENTIFIED VIA THE ANNUAL DISCLOSURE DOCUMENTS. SUCH CONFLICTS ARE SHARED WITH THE BOARD OF TRUSTEES AS APPROPRIATE. WHEN A CONFLICT ARISES, THE AFFECTED INDIVIDUAL IS NOT PERMITTED TO PARTICIPATE IN THE DISCUSSIONS OR TO VOTE ON THE MATTER. THE APPROVAL OR REJECTION OF THE TRANSACTION IS MADE BY PERSON WHO ARE INDEPENDENT OF THE INDIVIDUAL WITH THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW AND APPROVAL - THE COMPENSATION OF THE HEAD OF THE SCHOOL IS REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE COMMITTEE USES COMPARABILITY DATA IN THEIR DELIBERATIONS AND DOCUMENTS THEIR DECISION-MAKING PROCESS IN THE MINUTES. THE BOARD MEMBERS MAKING THE COMPENSATION DECISION ARE INDEPENDENT OF THE HEAD OF THE SCHOOL. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS - THE SCHOOL DOES NOT MAKE ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, OR CONFLICT POLICY AVAILABLE TO THE GENERAL PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUST 11,131. CHANGE IN RATE SWAP LIABILITIES 997,706. CHANGE IN VALUE OF ANNUITIES -75,544.