2025-10-20T14:38:42-05:00 2025-06-30 392519050 ELLIOTT DAVIS ADVISORY LLC 500 EAST MOREHEAD STREET SUITE 700 CHARLOTTE NC 28202 990 2024-07-01 620475682 GIRLS PREPARATORY SCHOOL INC GIRL 4236347600 205 ISLAND AVENUE CHATTANOOGA TN 37405 MR MARK VOSSKAMP CFO 4236347600 2025-10-19 1 1 JANICE A RATICA P00358837 7043338881 2025-10-19 2024 2025-03-06 01:10:19Z MR MARK VOSSKAMP 205 ISLAND AVENUE CHATTANOOGA TN 37405 49808736 0 X WWW.GPS.EDU X 1906 TN TO OPERATE AN ACCREDITED SECONDARY SCHOOL AND TO PROVIDE QUALITY PRIVATE SCHOOL EDUCATION FOR GIRLS IN GRADES SIX THROUGH TWELVE. 24 24 368 275 44533 41925 12284962 20667341 17832618 18294009 1048650 1935654 581798 242022 31748028 41139026 4194830 3991748 0 0 10841977 11394871 0 0 1594459 8438485 8797802 23475292 24184421 8272736 16954605 77322650 95551400 19627356 19455716 57695294 76095684 GIRLS PREPARATORY SCHOOL INSPIRES EACH GIRL TO LEAD A LIFE OF INTEGRITY AND PURPOSE BY ENGAGING HER MIND, CULTIVATING HER STRENGTHS, AND NURTURING HER SELF-CONFIDENCE AND RESPECT FOR OTHERS. 0 0 17389293 3991748 18404415 GIRLS PREPARATORY SCHOOL (GPS) IS AN INDEPENDENT COLLEGE PREPARATORY SCHOOL FOR GRADES SIX THROUGH TWELVE WHERE APPROXIMATELY 40% OF STUDENTS RECEIVED FINANCIAL ASSISTANCE. GPS INSPIRES EACH GIRL TO LEAD A LIFE OF INTEGRITY AND PURPOSE BY ENGAGING HER MIND,CULTIVATING HER STRENGHTHS, AND NURTURING HER SELF-CONFIDENCE AND RESPECT FOR OTHERS. IT DOES SO BY FOCUSING ON ITS VALUES OF HONOR, RESPECT, CURIOSITY, INDIVIDUALITY, AND RELATIONSHIPS. IN FISCALYEAR 2025, GPS GRADUATED 72 STUDENTS. 17389293 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 107 0 368 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 24 24 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 TN CA X MARK VOSSKAMP 4236347632 205 ISLAND AVENUE CHATTANOOGA TN 37405 CAROLINE CAULKINS BENTLEY TRUSTEE/BLDG & GRDS CMTE CHAIR 2.00 X 0 0 0 GLENN BREAZEALE JR TRUSTEE 1.00 X 0 0 0 JEFF BURNS TRUSTEE 1.00 X 0 0 0 ELOUISE BUSBY TRUSTEE 1.00 X 0 0 0 LAUREL CARNEY PHD TRUSTEE 1.00 X 0 0 0 PORCHE WARREN ADAMS TRUSTEE 1.00 X 0 0 0 MOLLY BAGGETT JAMIESON TRUSTEE 1.00 X 0 0 0 KATE CALDWELL NEVIN TRUSTEE 1.00 X 0 0 0 WILL KLINE TRUSTEE 1.00 X 0 0 0 BETH STEELE NEWBOLD TRUSTEE 1.00 X 0 0 0 SCOTT PIERCE TRUSTEE 1.00 X 0 0 0 ASHLEY MOORE PALMER TRUSTEE/EXEC COMMITTEE 2.00 X 0 0 0 HAMP JOHNSTON JR TRUSTEE/ENDOWMENT CMTE CHAIR 2.00 X 0 0 0 MARY P TANNER PHD TRUSTEE 1.00 X 0 0 0 JESSICA SCOTCHIE TRUSTEE 1.00 X 0 0 0 KAREN C WELBORN TRUSTEE/ADVANCEMENT CMTE CHAIR 2.00 X 0 0 0 CAROLYN CHANDLER TRUSTEE 1.00 X 0 0 0 BLAIR BENNINGTON CANNON TRUSTEE 1.00 X 0 0 0 AUSTIN P WATSON TRUSTEE 1.00 X 0 0 0 R KIRK WALKER JR TRUSTEE 1.00 X X 0 0 0 AMY ARROWSMITH BOARD CHAIR 5.00 X X 0 0 0 ASHLEY ROWLAND DAVENPORT VICE CHAIR 2.00 X X 0 0 0 JAMES SCOTCHIE FINANCE CHAIR 2.00 X X 0 0 0 DORI THORNTON WALLER SECRETARY/RECORDER 2.00 X X 0 0 0 MEGAN COVER HEAD OF SCHOOL 65.00 X 401556 0 53989 MARK VOSSKAMP CFO/COO 48.00 X 237664 0 17090 ALISON GANT CHIEF ADVANCEMENT OFFICER 48.00 X 184336 0 27246 BETHANY WILSON HEAD OF UPPER SCHOOL 48.00 X 154709 0 7153 ANDREW REICH DIR OF COLLEGE COUNSELING 40.00 X 110033 0 20889 KATHRYN OUTLAW HEAD OF MIDDLE SCHOOL 48.00 X 107998 0 19156 1196296 0 145523 6 0 1 0 SAGE DINING SERVICES INC 1402 YORK ROAD SUITE 100 LUTHERVILLE MD 21093 FOOD SERVICE 832733 BASELINE SPORTS CONSTRUCTION LLC 3600 HENSON RD KNOXVILLE TN 37921 CONSTRUCTION 473678 BEYNON SPORTS SURFACES INC 16 ALT ROAD HUNT VALLEY MD 21030 CONSTRUCTION 425285 ACADEMY TRAVEL INC 297 ROUTE 72 W STE 35 336 MANAHAWKIN NJ 08050 STUDENT TRAVEL 264783 HORD COPLAN MACHT INC PO BOX 69429 BALTIMORE MD 21264 ARCHITECTURE DESIGN AND PLANNING 208746 10 143105 20524236 379463 20667341 TUITION AND FEES 611710 16021865 16021865 AUXILIARY PROGRAMS 611710 1114209 1114209 OTHER PROGRAM REVENUE 611710 977360 977360 FEE REVENUE 611710 180575 180575 18294009 801490 44533 756957 87135 0 87135 87135 87135 9715266 8581102 1134164 1134164 1134164 53191 143105 8710 44481 44481 122258 79898 42360 42360 MISCELLANEOUS REVENUE 459900 68046 68046 68046 41139026 18404415 44533 2022737 3991748 3991748 1196295 712186 374716 109393 7660130 4566589 2547741 545800 406042 241727 127185 37130 1451184 863928 454555 132701 681220 405548 213379 62293 35577 35577 68230 68230 62584 62584 296794 14840 140977 140977 238720 205817 23102 9801 31523 1576 23642 6305 352235 303687 34087 14461 1723578 1486017 166798 70763 GROUNDS EXPENSE 1270911 1095741 122992 52178 AUXILIARY EXPENSE 923557 923557 ATHLETICS 883079 764410 118669 DINING SERVICES 743731 706321 26105 11305 2167283 1105601 660330 401352 24184421 17389293 5200669 1594459 9309497 12781243 5225966 8021144 528326 8389051 150196 128231 376669 499582 61470414 30258244 30566392 31212170 30405842 33616199 759762 903780 77322650 95551400 3671935 3772712 1939620 1753378 12414260 12424929 1411234 1253484 190307 251213 19627356 19455716 X 29165911 38337374 28529383 37758310 57695294 76095684 77322650 95551400 16954605 1445785 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19835301 10747958 2113759 1208119 31488899 18330811 466437 2345022 1306969 19835301 20085433 149062 1357300 3260984 18330811 25667930 748298 -3786031 2544764 20085433 15251989 6050494 5549551 1184103 25667931 0.32523 0.67477 0.00000 0 0 1529778 1529778 45772680 23106210 22666470 1094246 552379 541867 5041739 2545088 2496651 8031971 4054567 3977404 31212170 PRIVATE EQUITY FUNDS 1736353 F REAL ESTATE ASSETS 981352 F FIXED INCOME 29 F INTERNATIONAL EQUITY 2578592 F GLOBAL HEDGE 3802874 F INDEX FUNDS 24516999 F 33616199 FINANCE LEASE LIABILITY 251213 251213 X 38613441 1445785 88608 1534393 37079048 68230 3991748 4059978 41139026 20213051 88608 88608 20124443 68230 3991748 4059978 24184421 PART V, LINE 4: THE SCHOOL'S ENDOWMENT FUNDS ARE TO BE USED TO SUPPLEMENT THE ANNUAL OPERATING BUDGET OF THE SCHOOL, FOR USE IN FINANCIAL AID AWARDS AND DEBT SERVICE. WHERE EXPLICIT DONOR STIPULATIONS ARE IN PLACE FOR PERMANENTLY RESTRICTED ENDOWED FUNDS, THOSE MONIES WILL BE ALLOCATED TO THE AREAS SPECIFICALLY IDENTIFIED BY THE DONOR. 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 TAX AUTHORITY. AS OF JUNE 30, 2025 AND 2024 THE SCHOOL HAS NOT RECOGNIZED LIABILITIES FOR UNCERTAIN TAX POSITIONS OR ASSOCIATED INTEREST AND PENALTIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NET WITH REVENUE 79,898. FUNDRAISING EXPENSE NET WITH REVENUE 8,710. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED AS AN EXPENSE ON 990 3,991,748. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NET WITH REVENUE 79,898. FUNDRAISING EXPENSE NET WITH REVENUE 8,710. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED AS AN EXPENSE ON 990 3,991,748. 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 PUBLISHES ITS RACIALLY NONDISCRIMINATORY POLICY IN ALL OF ITS MARKETING MATERIALS. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 2000000 0 0 0 0 0 0 2000000 0 2000000 1 0 0 0 0 0 AUCTION 196296 143105 53191 8710 196296 143105 53191 8710 8710 44481 1 MERIT SCHOLARSHIPS 33 105000 TUITION CREDIT NEED-BASED FINANCIAL AID 254 3886748 TUITION CREDIT PART I, LINE 2: ALL GRANTS OFFERED BY THE SCHOOL ARE APPLIED AS OFFSETS TO TUITION AND FEES AND THERBY SATISFY ALL REQUIREMENTS TO BE USED FOR PROPER PURPOSES X X X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 MEGAN COVER HEAD OF SCHOOL 388830 0 10000 0 2726 0 7874 0 46115 0 455545 0 0 0 MARK VOSSKAMP CFO/COO 237664 0 0 0 0 0 4660 0 12430 0 254754 0 0 0 ALISON GANT CHIEF ADVANCEMENT OFFICER 184336 0 0 0 0 0 3896 0 23350 0 211582 0 0 0 BETHANY WILSON HEAD OF UPPER SCHOOL 154709 0 0 0 0 0 3033 0 4120 0 161862 0 0 0 PART I, LINE 1A AS PART OF THE HEAD OF SCHOOL'S CONDITIONS OF EMPLOYMENT, SHE IS REQUIRED TO LIVE ON CAMPUS IN A RESIDENCE PROVIDED BY THE SCHOOL. THE SCHOOL ALSO PROVIDES CERTAIN PERSONAL SERVICES FOR THE CARE AND MAINTENANCE OF THE RESIDENCE, SUCH AS CLEANING, LANDSCAPING, ETC. FURTHER, CERTAIN ADMINISTRATORS HAVE DISCRETIONARY SPENDING ACCOUNTS WHICH ARE USED ONLY FOR SCHOOL-RELATED EXPENDITURES. EXPENSES ARE REVIEWED AND APPROVED AT THE TRANSACTION LEVEL BY THE CFO, COO AND/OR ANOTHER REPRESENTATIVE AND ARE REVIEWED AS PART OF THE MONTHLY BUDGET REVIEW PROCESS. EXPENDITURES FROM THESE ACCOUNTS FOLLOW THE SAME PROCESS AND ARE SUBJECT TO THE SAME CONTROLS AS ALL OTHER EXPENDITURES OF THE SCHOOL. RECEIPTS MUST BE SUBMITTED AND APPROVED BY THE COO OR CFO AND THE EXPENDITURE AND CORRESPONDING ACCOUNTING ARE REVIEWED BY CONTROLLER PRIOR TO POSTING TO THE GENERAL LEDGER. THE ACCOUNT AS A WHOLE IS REVIEWED REGULARLY. A HEALTH EDUCATIONAL AND HOUSING FACILITY BOARD OF THE CITY OF CHATTANOOGA 521298872 NONEAVAIL 2015-08-06 10000000 CONSTRUCTION OF SCHOOL BUILDING 0 0 0 B HEALTH EDUCATIONAL AND HOUSING FACILITY BOARD OF THE CITY OF CHATTANOOGA 521298872 NONEAVAIL 2015-08-24 5000000 CONSTRUCTION OF SCHOOL BUILDING 0 0 0 A 10000000 55938 9944062 2008 0 0 1 1 B 5000000 55938 4944062 2008 0 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 1 0 0 0 0 0 B 1 0 0 0 0 0 A 0 B 0 67785 TUITION REMISSION TUITION REMISSION X 25 372313 MARKET VALUE X ONLINE AUCTION PROPERTY AND EQUIPMENT 9 7150 FAIR MARKET VALUE 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 JESSICA SCOTCHIE AND JIMMY SCOTCHIE HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT, INSURANCE, AND COMPLIANCE COMMITTEE REVIEWS AND APPROVES THE FULL 990 PRIOR TO FILING. A COMPLETE COPY OF THE 990 IS MADE AVAILABLE TO THE FULL BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF TRUSTEES REQUIRES A CONFLICT OF INTEREST FORM TO BE COMPLETED BY ALL TRUSTEES ON AN ANNUAL BASIS. IN THE EVENT OF A CONFLICT, THE COMMITTEE WILL CONSIDER THE NATURE OF THE CONFLICT, AND IF WARRANTED, THE INDIVIDUAL IS ASKED TO RECUSE HIM/HERSELF FROM DISCUSSION AND VOTING. ALTERNATIVELY, THE BOARD OR COMMITTEE CHAIR MAY BE ASKED TO EVALUATE APPROPRIATENESS AND MANDATE CHANGE/DISCONTINUATION OF RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD DOES A TRIENNIAL REVIEW OF THE EMPLOYMENT CONTRACT FOR THE HEAD OF SCHOOL. (THE HEAD OF SCHOOL IS ON A THREE-YEAR AGREEMENT.) EACH CONTRACT INCLUDES ANNUAL PAY ADJUSTMENTS FOR THE TERM OF THE CONTRACT AND AGREED-UPON MEASURES OF PERFORMANCE. DATA EVALUATED COME FROM INDEX, NAIS AND 990 TAX FILINGS OF COMPARABLE SCHOOLS. REVIEW INCLUDES AN EVALUATION OF THE COMPENSATION AT VARIOUS SIMILAR INSTITUTIONS (IN-MARKET COMPARABLES AND OUT-OF-MARKET COMPS ADJUSTED FOR MARKET DYNAMICS), MULTI-YEAR TRENDS IN THE INDUSTRY AND CONSIDERATION OF PERFORMANCE EVALUATION AND WORK EXPERIENCE. FINAL AGREEMENT IS DETERMINED BY TRUSTEES. ALL OTHER EMPLOYEE CONTRACTS, INCLUDING TOP MANAGERS, ARE EVALUATED ON AN ANNUAL BASIS BY THE HEAD OF SCHOOL WITH CONSULTATION OF HR AND CFO. INITIAL COMPENSATION FOR TOP MANAGEMENT IS BASED ON REVIEW OF COMPARABLE COMPENSATION AND IN-MARKET AND OUT-OF-MARKET COMPARABLE SCHOOLS, WHICH PROVIDE A REASONABLE RANGE OF VALUES FOR A POSITION. WITHIN THIS RANGE, CONSIDERATION OF EXPERIENCE AND UNIQUE FACTORS (OF THE POSITION AND/OR OF THE CANDIDATE) ARE CONSIDERED IN NEGOTIATION WITH A CANDIDATE UPON HIRE. ON AN ANNUAL BASIS, BUDGET AVAILABILITY FOR ALL SALARY INCREASES IS A FIRST CONSIDERATION FOR ALL EMPLOYEES. BASED ON BUDGETED FUNDS AVAILABLE, DISTRIBUTION AMONG INDIVIDUAL EMPLOYEES IS DETERMINED BY SALARY SCALES, EXPERIENCE, PERFORMANCE, AND HEAD OF SCHOOL DISCRETION. ALL DECISIONS CONCERNING COMPENSATION ARE DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST TO THE HEAD OF SCHOOL. PART XII, LINE 2C PROCESS HAS NOT CHANGED.