2016-02-11T13:12:53-06:00 2015-06-30 420714325 RSM US LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2014-07-01 520701774 KEY SCHOOL INC KEYS 4102639231 534 HILLSMERE DRIVE ANNAPOLIS MD 21403 CAROLINE EWING DIRECTOR OF FINANCE 4102639231 2016-02-11 1 WILLIAM E TURCO CPA P00369217 3012963600 2014 2016-04-25 22:37:26Z MATTHEW NESPOLE 534 HILLSMERE DRIVE ANNAPOLIS MD 21403 19310679 0 X WWW.KEYSCHOOL.ORG X 1959 MD INDEPENDENT, NON-SECTARIAN, NON-PROFIT, PK - GRADE 12 SCHOOL 28 26 217 300 0 0 2664860 2301769 16520276 16482640 120240 328862 99283 107158 19404659 19220429 1711090 1707800 0 0 11120752 11122840 0 0 556759 4323055 4617975 17154897 17448615 2249762 1771814 34102841 36045965 12768131 12923606 21334710 23122359 THE KEY SCHOOL IS FOUNDED UPON THE CONVICTION THAT CHILDREN ARE INNATELY CURIOUS ABOUT THEMSELVES AND THE WORLD; THEY WANT TO LEARN, THEY WANT TO DISCOVER, AND THEY WANT TO CREATE. (CONTINUED ON SCHEDULE O) 0 0 13384966 1707800 16482640 PROVIDES EDUCATION FOR STUDENTS FROM PRESCHOOL THROUGH GRADE 12 - APPROXIMATELY 644 STUDENTS. 13384966 1 1 0 0 0 0 1 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 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 43 0 1 217 1 0 0 0 0 0 1 1 0 0 0 0 X 28 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 MD X CAROLINE EWING 4102639231 534 HILLSMERE DRIVE ANNAPOLIS MD 21403 MISSY ATTRIDGE PRESIDENT 1.00 X X 0 0 0 PAM WILLIAMS VICE PRESIDENT 1.00 X X 0 0 0 PETER BICHE TREASURER 1.00 X X 0 0 0 WENDELL WEBSTER SECRETARY 1.00 X X 0 0 0 CHARLES ANTHONY BOARD MEMBER 1.00 X 0 0 0 MARK BAGANZ BOARD MEMBER 1.00 X 0 0 0 GEORGIE BERKINSHAW BOARD MEMBER 1.00 X 0 0 0 PETER BICHE BOARD MEMBER 1.00 X 0 0 0 MARIE BROCKHURST BOARD MEMBER 1.00 X 0 0 0 KATHERINE EDWARDS BOARD MEMBER 1.00 X 0 0 0 LEANDER J FOLEY III BOARD MEMBER 1.00 X 0 0 0 KRISTIN FUSCO BOARD MEMBER 1.00 X 0 0 0 KITOU FUTRELL BOARD MEMBER 1.00 X 0 0 0 JAMES HAYES BOARD MEMBER 1.00 X 0 0 0 NIELS HOLCH BOARD MEMBER 1.00 X 0 0 0 JOSEPH A JANNEY III BOARD MEMBER 1.00 X 0 0 0 WESLEY R JONES BOARD MEMBER 1.00 X 0 0 0 STEVEN KAHLE BOARD MEMBER 1.00 X 0 0 0 M KENNETH KISSEL BOARD MEMBER 1.00 X 0 0 0 LORI MATHIS BOARD MEMBER 1.00 X 0 0 0 TROY MAYER BOARD MEMBER 1.00 X 0 0 0 CHRISTINE PETERSON BOARD MEMBER 1.00 X 0 0 0 F MICHAEL SMITH BOARD MEMBER 1.00 X 0 0 0 GERALD SPARER BOARD MEMBER 1.00 X 0 0 0 SIMEON WOOTEN BOARD MEMBER 1.00 X 0 0 0 STEPHEN WRAGE BOARD MEMBER 1.00 X 0 0 0 ALANNA WRIGHT BOARD MEMBER 1.00 X 0 0 0 MARCELLA M YEDID HEAD OF SCHOOL 60.00 X X 357189 0 36105 KENNETH PIEL CFO 55.00 X 190919 0 18421 JESSIE DUNLEAVY DIRECTOR ADMISSIONS 55.00 X 133896 0 14282 DAVID MAGNUS MIDDLE SCHOOL HEAD 55.00 X 116728 0 19549 EMILY LEGUM LOWER SCHOOL HEAD 55.00 X 107930 0 20949 SUSAN ROSENDAHL PRESCHOOL HEAD 55.00 X 106743 0 12846 MARY SPENCER DIRECTOR ADVANCEMENT 55.00 X 105998 0 5312 1119403 0 127464 7 0 1 0 CJ MAINTENANCE 9254 BENDIX ROAD COLUMBIA MD 21045 CLEANING SERVICE 163423 ELOY LANDSCAPING 904 CHESAPEAKE DR STEVENSVILLE MD 21666 LANDSCAPING SERVICE 110853 BARSTOW & SONS HEATING & COOLING PO BOX 333 SEVERNA PARK MD 21146 HEATING & COOLING 109594 FORKED CREEK CONSTRUCTION 1067 LITTLE MAGOTHY VIEW ANNAPOLIS MD 21401 CONSTRUCTION & RENOVATION 107250 4 10923 87302 2203544 2537 2301769 TUITION & FEES 900099 15910476 15910476 SUMMER PROGRAMS 900099 572164 572164 16482640 336727 336727 38400 5127 33273 33273 33273 3568 11433 -7865 -7865 -7865 35594 87302 54626 -19032 -19032 22954 19064 3890 3890 OTHER REVENUE 900099 89027 89027 89027 19220429 16482640 0 436020 1707800 1707800 645224 448038 168997 28189 7592220 5271968 1988571 331681 319504 221864 83678 13962 1953122 1438749 423733 90640 612770 425507 160485 26778 4387 4273 83 31 38350 38350 236024 192547 42096 1381 117423 115906 1105 412 936232 936232 390734 390734 736269 717273 13842 5154 70067 68260 1317 490 INSTRUCTIONAL EXPENSES 841805 841805 ADMINISTRATIVE EXPENSES 557682 500204 57478 SUMMER PROGRAMS 396131 396131 PROFESSIONAL DEVELOPMEN 128781 99490 29291 164090 108389 55138 563 17448615 13384966 3506890 556759 1866 500 7098734 8042087 429323 1188994 191896 101001 8897 7922 127413 237662 23758438 7467436 16571543 16291002 9558889 3214687 6628760 114280 333350 34102841 36045965 1118122 1306701 1902002 2121200 8385000 8125000 440278 427708 922729 942997 12768131 12923606 X 14694341 14770925 2016492 3536487 4623877 4814947 21334710 23122359 34102841 36045965 X 1771814 -131234 147069 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 1.00 1 0 9945142 293490 186693 19346 10405979 8374535 252671 1352540 34604 9945142 7144071 327943 972199 69678 8374535 6783536 459442 -98907 7144071 5439339 248370 1126528 30701 6783536 0.35840 0.46270 0.17890 0 0 3400822 3400822 17851609 6594312 11257297 2506007 873124 1632883 16291002 34,724.44-FPA CRESCENT 1171602 F 10,798.06-VG DIV APPRECIATION ETF 848512 F 97,595.84-VG ST BOND IND FD ADMIRAL 1025732 F 7,661.47-VG 500 INDEX FD ADMIRAL CL 1458437 F 14,102.52-VG SMALL-CAP INDEX FD ADMIRAL 820767 F 19,455.45 VG WELLINGTON FUND ADMIRAL 1303710 F 6628760 INTEREST RATE SWAP 692854 OBLIGATIONS UNDER CAPITAL LEASE 19346 DEFERRED COMPENSATION 230797 942997 X 17405586 -131234 -1707800 -1839034 19244620 -24191 -24191 19220429 15765006 24191 24191 15740815 1707800 1707800 17448615 PART II, LINE 9: WE DO NOT REPORT ON CONSERVATION EASEMENTS IN OUR REVENUE AND EXPENSE STATEMENTS. PART V, LINE 4: EVENTUALLY, INCOME GENERATED FROM THE ENDOWMENT WILL BE USED TO SUPPORT THE SCHOOL'S MISSION. CURRENTLY, NO INCOME IS DRAWN FROM ENDOWMENT FUNDS. PART X, LINE 2: THE SCHOOL IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE IRC. HOWEVER, THE SCHOOL IS SUBJECT TO INCOME TAXES ON UNRELATED BUSINESS INCOME AS DEFINED BY THE INTERNAL REVENUE SERVICE (IRS). DURING THE YEAR ENDED JUNE 30, 2015, THE SCHOOL HAD NO TAXABLE UNRELATED BUSINESS INCOME, AND ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REQUIRED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. MANAGEMENT HAS EVALUATED THE SCHOOL'S TAX POSITIONS AND HAS CONCLUDED THAT THE SCHOOL HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO OR DISCLOSURE IN THE FINANCIAL STATEMENTS. GENERALLY, THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2012. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST TUITION REVENUE -1,707,800. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON LINE 10B -19,064. RENTAL EXPENSES REPORTED ON LINE 6B -5,127. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON LINE 10B 19,064. RENTAL EXPENSES REPORTED ON LINE 6B 5,127. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST TUITION REVENUE 1,707,800. SCHEDULE D, PART II, LINE 9 WE DO NOT REPORT ON CONSERVATION EASEMENTS IN OUR REVENUE AND EXPENSE STATEMENTS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 IN THE NEWSPAPER AND ALL PRINTED MATERIAL, AS WELL AS ON THE WEBSITE. BOOK FESTIVAL 111482 81502 29980 50158 5K/10K RACE 11414 5800 5614 4468 122896 87302 35594 54626 54626 -19032 1 FINANCIAL AID TO STUDENTS 150 1707800 PART I, LINE 2: INDIVIDUAL STUDENTS ARE AWARDED SCHOLARSHIPS BASED ON THE FINANCIAL NEEDS OF THE STUDENT. X X X X 0 0 0 0 0 0 0 0 0 MARCELLA M YEDID HEAD OF SCHOOL 357189 0 0 0 0 0 27473 0 9083 0 393745 0 0 0 KENNETH PIEL CFO 190919 0 0 0 0 0 9672 0 9199 0 209790 0 0 0 A ANNE ARUNDEL COUNTY 526000878 035895BL4 2008-12-10 9300000 DEBT REFINANCING & RENOVATIONS 0 1 0 A 1175000 9300000 151467 41818 9106715 2009 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 1 1 MANUFACTURERS & TRADERS TRUST 10.000000000000 0 0 0 0 0 A 1 SCHEDULE K, PART IV, LINE 2C: REBATE COMPUTATION WAS PERFORMED ON 12/10/2013. 7000 FINANCIAL AID TUITION FORM 990, PART III, LINE 1, ORGANIZATION'S MISSION: OUR MISSION IS TO NOURISH AND GUIDE THIS NATURAL EXUBERANCE, ENERGY, AND DELIGHT IN THE SEARCH FOR MEANING, SO THAT EACH STUDENT EMBRACES LIFELONG LEARNING AND DEVELOPS INTO AN INFORMED, THOUGHTFUL, AND CONSTRUCTIVE MEMBER OF SOCIETY. WITH THESE BELIEFS AND OBJECTIVES IN MIND, WE COMMIT TO: PROVIDE A DYNAMIC EDUCATION THAT DEMANDS RIGOR, INTELLECTUAL INDEPENDENCE, CREATIVITY, INTERDISCIPLINARY THOUGHT, AND OPENNESS TO DIFFERING PERSPECTIVES THROUGH ACADEMIC AND CO-CURRICULAR PROGRAMS THAT TEACH STUDENTS EXPERIENTIALLY, AS ACTIVE PARTICIPANTS IN THE LEARNING PROCESS. GUIDE AND SUPPORT STUDENTS IN THEIR EFFORTS TO MATURE INTELLECTUALLY, SOCIALLY, AND EMOTIONALLY; TO MAKE DECISIONS FOR THEMSELVES AND TAKE RESPONSIBILITY FOR THOSE DECISIONS; TO ADDRESS THEIR INDIVIDUAL LEARNING NEEDS; AND TO BROADEN AND DEEPEN THEIR TALENTS AND INTERESTS. PREPARE STUDENTS WITH THE COLLABORATIVE AND COMPETITIVE ABILITIES AND THE COMMUNICATION AND THINKING SKILLS THEY NEED TO EFFECTIVELY UNDERTAKE CHALLENGES AND ASSUME RESPONSIBILITIES IN AN INTERCONNECTED, COMPLEX WORLD. CULTIVATE A COMMUNITY IN WHICH TEACHING AND LEARNING ARE LIFELONG ENDEAVORS FOR ALL, PURSUED THROUGH REFLECTION, PRIVATE STUDY, AND COMMUNAL ENGAGEMENT. SUSTAIN AN ETHICAL SCHOOL CULTURE THAT RESPECTS THE DIGNITY OF EVERY HUMAN BEING, RECOGNIZES THAT LIBERTY MUST BE BALANCED BY RESPONSIBILITY AND INDIVIDUAL ACTION BY THE NEEDS OF OTHERS, AND STRESSES TO ALL MEMBERS OF A DIVERSE SCHOOL COMMUNITY THE IMPORTANCE OF TRUST, MUTUAL RESPECT, COMPASSION, AND SERVICE TO OTHERS. FORM 990, PART VI, SECTION B, LINE 11 AFTER A REVIEW OF THE FORM 990 BY THE FINANCIAL MANAGEMENT OF THE SCHOOL, THE SCHOOL'S AUDIT COMMITTEE WILL THEN REVIEW THE RETURN. THE FINAL STEP IN THE REVIEW PROCESS WILL BE THE PRESENTATION OF THE FORM 990 TO THE FULL BOARD OF DIRECTORS OF THE SCHOOL. FORM 990, PART VI, SECTION B, LINE 12C KEY SCHOOL MANDATES COMPLETION OF A CONFLICT OF INTEREST POLICY FORM ANNUALLY BY ALL TRUSTEES. THESE FORMS ARE REVIEWED ANNUALLY IN ORDER TO MAINTAIN COMPLIANCE WITH THE POLICY. FORM 990, PART VI, SECTION C, LINE 19 THE KEY SCHOOL DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990 IS AVAILABLE TO THE PUBLIC ON GUIDESTAR. FORM 990, PART XI, LINE 9: UNREALIZED GAIN/(LOSS) ON INTEREST RATE SWAP 147,069. DOVE LANE LLC 543 HILLSMERE DRIVE ANNAPOLIS MD 21403 521356766 REAL ESTATE HOLDING COMPANY MD 38400 300875 KEY SCHOOL INC THE KEY SCHOOL BUILDING & FINANCE CORP 534 HILLSMERE DRIVE ANNAPOLIS MD 21403 521745985 DORMANT MD KEY SCHOOL INC C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0