2017-05-11T15:17:45-05:00 2016-06-30 202153727 SB & Company LLC 200 International Cir Suite 5500 Hunt Valley MD 21030 990 2015-07-01 521072250 Baltimore Educational Scholarship Trust BALT 4107522225 808 North Charles Street Baltimore MD 21201 Jessica Suriano Executive Director 4107522225 2017-05-11 1 Sheila Eichelberger P00743897 4105840060 2017-05-08 2015 2021-01-29 14:40:06Z Jessica Suriano 808 North Charles Street Baltimore MD 21201 2434111 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. 43 43 17 43 0 0 739089 734177 385793 396696 336756 281855 0 0 1461638 1412728 533819 561911 0 0 644042 677864 0 0 163765 263469 280852 1441330 1520627 20308 -107899 10361470 9954449 313316 325422 10048154 9629027 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 1196658 561911 396696 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 school 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. 1196658 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 0 0 17 1 0 0 0 0 0 0 0 0 0 0 X 43 43 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 1 1 1 1 0 MD X Jill Wood 4107522225 808 North Charles Street Baltimore MD 21201 X Simms Stuart O 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 Kirby Alex W Board Treasurer 4.00 X X 0 0 0 Berrier Christopher A Board Secretary 4.00 X X 0 0 0 Alexander Teri Trustee 1.00 X 0 0 0 Britton Charles W Trustee 1.00 X 0 0 0 Brune Jean Waller Trustee 1.00 X 0 0 0 Cashman Kimberly H Trustee 1.00 X 0 0 0 Dixon W Boulton Trustee 1.00 X 0 0 0 Doak Brian C Trustee 1.00 X 0 0 0 Evins Penny B 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 1.00 X 0 0 0 Hagerman Dr Parnell P Trustee 1.00 X 0 0 0 Harvey III F Barton Emeritus 0.00 X 0 0 0 Hathaway Molly M Emeritus 0.00 X 0 0 0 Holcomb-McCoy Dr Cheryl Trustee 1.00 X 0 0 0 Holmgren Andrew Trustee 1.00 X 0 0 0 Hunter David 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 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 Paradis Daniel J Trustee 2.00 X 0 0 0 Perkins III Thomas P Emeritus 0.00 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 Roberts Dr Kimberley J Trustee 1.00 X 0 0 0 Rodgers Theo C Emeritus 1.00 X 0 0 0 Rubin The Honorable Julie R Trustee 1.00 X 0 0 0 Shifrin Ben Trustee 1.00 X 0 0 0 Smyth Henry PA Trustee 1.00 X 0 0 0 Snyder Lawrence R Trustee 2.00 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 1.00 X 0 0 0 Walsh Maureen E Trustee 1.00 X 0 0 0 Watson Craig S Trustee 1.00 X 0 0 0 Weinfeld Michael J Trustee 2.00 X 0 0 0 Whitehead Pat Trustee 1.00 X 0 0 0 Young Karlo G Trustee 1.00 X 0 0 0 Lee Crystal Director of Advancement 40.00 X X 90059 0 5957 Stokes Toni Admissions Officer 40.00 X X 76229 0 5814 Suriano Jessica Executive Director 40.00 X X 115757 0 489 Wood Jill Director of Finance & Operations 40.00 X X 74727 0 7823 356772 0 20083 1 0 0 0 0 734177 734177 School membership fees 900099 386000 386000 Application fees and other 900099 10696 10696 396696 176055 176055 1127183 1021383 105800 105800 105800 1412728 396696 0 281855 561911 561911 387877 250997 66954 69926 200326 129636 34580 36110 11725 7587 2024 2114 34967 22628 6031 6308 42969 27806 7417 7746 145 97 26 22 14800 9916 2664 2220 10905 7307 1963 1635 34765 16948 4513 13304 26702 17890 4806 4006 54930 38451 10986 5493 2983 1790 895 298 12571 12571 8967 5380 2690 897 Student Prgms/Svcs Expe 84332 84332 Cultivation and Steward 12313 12313 Miscellaneous 10900 7443 2084 1373 Projects and Events 6539 6539 1520627 1196658 160204 163765 176258 169931 26397 18133 12430 10092 133942 114359 29091 19583 10117294 9736710 10361470 9954449 10092 14613 303224 310809 313316 325422 X 193220 262247 4390387 3902233 5464547 5464547 10048154 9629027 10361470 9954449 -107899 -311228 0 X X 0 1 X 1 0 X 689580 716939 713162 739089 734177 3592947 689580 716939 713162 739089 734177 3592947 353967 3238980 128481 208585 266757 164662 176055 944540 4537487 1926889 0.71380 0.71080 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9459905 -29111 452308 8978486 9689524 183614 413233 9459905 8671007 1424701 406184 9689524 8153932 907024 389949 8671007 8929574 123853 899495 8153932 0.60860 0.39140 0 0 133942 114359 19583 19583 Money market funds 823559 F Domestic US Stocks/Funds 4765919 F International (non-U.S.) Stocks/Funds 1180437 F Fixed Income 2966795 F 9736710 Distributions payable to schools 308800 Capital Lease 2009 310809 X 1101500 -311228 -311228 1412728 0 1412728 1520627 0 1520627 0 1520627 Part X, Line 2: Under the provisions of the Internal Revenue Code, B.E.S.T. is exempt from federal and state income taxes as a charitable organization under Internal Revenue Code Section 501(c)(3). B.E.S.T. files information returns in the U.S. federal jurisdiction and is no longer subject to tax examinations by tax authorities for years before 2013. There are no interest and penalties related to income taxes recognized in the financial statements as of June 30, 2016 and 2015. B.E.S.T. has not taken any tax positions that would significantly increase or decrease any unrecognized tax benefit within twelve months of the reporting date. 1 Roland Park Country School Inc 5204 Roland Ave Baltimore MD 21210 520591631 501(c)(3) 57586 Annual Fund Gift, SHDF, Tuition for the Schools' Endowed Scholar, and 1 Gap Funding grant Gilman School Inc 5407 Roland Ave Baltimore MD 21210 520591604 501(c)(3) 55580 Annual Fund Gift, SHDF, Tuition for the Schools' Chick Lord Scholar, and 1 Emergency Fund grant Bryn Mawr School 109 W Melrose Ave Baltimore MD 21210 520258140 501(c)(3) 41954 Annual Fund Gift, SHDF, and 3 Emergency Fund grants The Boys' Latin School of Maryland 822 W Lake Ave Baltimore MD 21210 520735085 501(c)(3) 38458 Annual Fund Gift, SHDF, Stanley I Panitz award, and 2 Emergency Fund grants St Paul's School for Girls Inc 11232 Falls Rd Brooklandville MD 21022 520709497 501(c)(3) 36217 Annual Fund Gift, SHDF, and 2 Emergency Fund grants St Paul's School 11152 Falls Rd Brooklandville MD 21022 520591463 501(c)(3) 35068 Annual Fund Gift, SHDF, and 1 Emergency Fund grant The Jemicy School Inc 11 Celadon Rd Owings Mills MD 21117 520976194 501(c)(3) 33421 Annual Fund Gift, SHDF, and 1 Emergency Fund grant Maryvale Preparatory School 11300 Falls Rs Lutherville MD 21093 521160935 501(c)(3) 32891 Annual Fund Gift, SHDF, 2 Gap Funding grants, and 3 Emergency Fund grants Friends School of Baltimore Inc 5114 North Charles St Baltimore MD 21210 520591602 501(c)(3) 31374 Annual Fund Gift, SHDF, and 1 Emergency Fund grant McDonogh School PO Box 380 Owings Mills MD 21117 526001577 501(c)(3) 31128 Annual Fund Gift, SHDF, and 2 Emergency Fund grants Garrison Forest School Inc 300 Garrison Forest Rd Owings Mills MD 21117 520591516 501(c)(3) 28534 Annual Fund Gift, SHDF, Stanley I Panitz award, and 1 Emergency Fund grant The Park School of Baltimore PO Box 8200 Brooklandville MD 21022 520591625 501(c)(3) 26485 Annual Fund Gift, SHDF, and 1 Emergency Fund grant Calvert School Inc 105 Tuscany Rd Baltimore MD 21210 520591510 501(c)(3) 23473 Annual Fund Gift, SHDF Severn School Inc 201 Water St Severna Park MD 211464599 520591466 501(c)(3) 17642 Annual Fund Gift, SHDF Key School Inc 543 Hillsmere Dr Annapolis MD 21403 520701774 501(c)(3) 17116 Annual Fund Gift The Waldorf School of Baltimore Inc 4801 Tamarind Rd Baltimore MD 21209 237305478 501(c)(3) 16921 Annual Fund Gift, SHDF, and 1 Gap Funding grant Corporation of St Timothy's School 8400 Greenspring Ave Stevenson MD 21153 520591488 501(c)(3) 14842 Annual Fund Gift, SHDF Oldfields School Inc 1500 Glencoe Rd Glencoe MD 21152 520591645 501(c)(3) 14421 Annual Fund Gift, SHDF 18 Part I, Line 2: When B.E.S.T. provides grants for Annual Fund gifts, the School Head Discretionary Fund, Emergency Fund, Endowed Scholars, Gap Fund, and the Stanley I Panitz Award, they 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 be used for financial aid for students. The Annual Fund gift letters state the amount of the grant awarded to each school and that it is directed toward 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. These funds are for 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 students' 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. Endowed Scholar gifts are provided to the specific member schools with an Endowed Scholar. B.E.S.T. pays 75% of the current tuition for the Endowed Scholar. There were 2 Endowed Scholars for fiscal year 2016. One Endowed Scholar was at Roland Park Country School. The other Endowed Scholar at Gilman School, Inc., is named the Chick Lord Scholar. B.E.S.T. includes the student's name in the grant letter. 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. 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 11 A copy of the Form 990 is distributed to the Finance and 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 considered complete and the Executive Director signs the final version. Form 990, Part VI, Section B, line 12c All trustees and key employees are required each year to sign the conflict of interest policy. The signed trustee forms are stored at B.E.S.T. in the Trustee's individual files in the executive office. The signed conflict of interest forms for the key employees are stored in the personnel files of the individuals. If a conflict exists, the Executive Director would review with the Board President. Form 990, Part VI, Section B, line 15 Research of salaries for similar positions and similar organizations is reviewed and compared. The Board President and Executive Committee reviewed the salary of the Executive Director. The Executive Director reviewed the salary for the Admissions Officer I, the Admissions Officer II, the Director of Finance and Operations, the Director of Advancement, the Executive Associate, the Associate of External Relations, and the Director of Programs and Alumni Relations. 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 VII Contact Addresses for Officers, Directors, Etc: Alexander, Teri 216 Ridgewood Road Baltimore, MD 21210 Berrier, Christopher A. 240 Hopkins Lane Owings Mills, MD 21117 Britton, Charles W. 8600 McDonogh Rd Owings Mills, MD 21117 Brune, Jean Waller 6 Upland Road, Apt F4 Baltimore, MD 21210 Cashman, Kimberly 1406 Walnut Hill Lane Towson, MD 21204 Collins, Tiffani S. 5876 Pimlico Road Baltimore, MD 21209 Dixon, W. Boulton 509 Whithorn Court Lutherville, MD 21093 Doak, Brian C. 307 International Circle 4th Floor Hunt Valley, MD 21031 Evins, Penny B. 11232 Falls Rd Brooklandville, MD 21022 Faus, David C. 11152 Falls Rd, P.O. Box 8100 Brooklandville, MD 21022 Finney, Redmond C.S. 15601 Dover Rd Upperco, MD 21155 Ford, Tracey H. 11300 Falls Rd Lutherville, MD 21093 Foxworth, Domonique 808 N. Charles St. Baltimore, MD 21201 Hagerman, Dr. Parnell P. 808 North Charles Street Baltimore, MD 21201 Harvey III, F. Barton 10227 Wincopin Circle Columbia, MD 21044 Hathaway, Molly M. 6525 Montrose Ave Baltimore, MD 21212 Holcomb-McCoy, Dr. Cheryl 10503 Tulip Lane Potomac, MD 20854 Holmgren, Andrew 105 Tuscany Rd Baltimore, MD 21210 Hunter, David 901 S. Bond St, Suite 400 Baltimore, MD 21231 Hurley, Cheo D. 3707 Edgewood Rd Baltimore, MD 21215 Hutchins, Diane 103 Stone Point Dr, Unit 373 Annapolis, MD 21401 Jacks III, Grant 529 Overbrook Rd Baltimore, MD 21212 Kirby, Alex W. 23 Yogurt Lane Baltimore, MD 21231 Lagarde, Douglas 201 Water St Severna Park, MD 21146 Micciche, Matthew W. 5114 N. Charles St Baltimore, MD 21210 Nespole, Matthew 534 Hillsmere Dr Annapolis, MD 21403 Owen, Lee S. 96 Lighthouse Dr Jupiter, FL 33469 Paradis, Daniel J. P.O. Box 8200 Brooklandville, MD 21022 Perkins III, Thomas P. 840 East 40th St Baltimore, MD 21211 Post, Christopher J. 822 West Lake Ave Baltimore, MD 21210 Reid, Jr., Vernon A. 100 E. Pratt St, 7th Floor Baltimore, MD 21202 Roberts, Dr. Kimberley J. 300 Garrison Forest Rd Owings Mills, MD 21117 Rodgers, Theo C. 1040 Park Ave, Suite 300 Baltimore, MD 21201 Rubin, The Honorable Julie R. 2327 Boston St, No.14 Baltimore, MD 21224 Schmick, John E. 6432 Cloister Gate Dr Baltimore, MD 21212 Shifrin, Ben 11202 Garrison Forest Rd Owings Mills, MD 21117 Simms, Stuart O. 120 E. Baltimore St, Suite 1700 Baltimore, MD 21202 Smyth, Henry, P.A. 5407 Roland Ave Baltimore, MD 21210 Snyder, Lawrence 3119 Royston Ave Baltimore, MD 21214 Staley, Anne 1300 Berwick Rd Baltimore, MD 21204 Stevens, Randy S. 8400 Greenspring Ave Stevenson, MD 21153 Sweeney, Martha H. 3257 Bridle Ridge Lane Stevenson, MD 21153 Timken, John H. 3111 Gold Course West Owings Mills, MD 21117 Walsh, Maureen E. 109 West Melrose Ave Baltimore, MD 21210 Watson, Craig S. 6325 Kerne Court Clarksville, MD 21029 Weinfeld, Michael J. P.O. Box 251 Brooklandville, MD 21022 Whitehead, Pat 4801 Tamarind Rd Baltimore, MD 21209 Young, Karlo G. 3511 Stoney Creek Court Owings Mills, MD 21117 Form 990, Part XII, Line 2c: The process has not changed from prior year.