2016-05-13T13:18:52-05:00 2015-06-30 420714325 RSM US LLP 100 INTERNATIONAL DRIVE SUITE 1400 BALTIMORE MD 21202 990 2014-07-01 520591516 GARRISON FOREST SCHOOL INC GARR 4103631500 300 GARRISON FOREST SCHOOL OWINGS MILLS MD 21117 WILLIAM S HODGETTS ASST HEAD OF SCHOOL FINANCE 4103631500 2016-05-12 1 JULIA FLANNERY CPA P00928918 4102469300 2014 2016-08-17 19:52:53Z KIMBERLEY ROBERTS 300 GARRISON FOREST SCHOOL OWINGS MILLS MD 21117 26082331 0 X WWW.GFS.ORG X 1939 MD AT GARRISON FOREST SCHOOL, WE PREPARE OUR STUDENTS IN AND OUT OF THE CLASSROOM TO THRIVE IN A COMPLEX AND CHANGING WORLD. 27 27 282 150 439763 0 3859707 2288970 18566504 19266447 2497303 4146422 205708 163816 25129222 25865655 3170778 3390159 0 0 10739625 10695100 0 0 898303 8540704 8996685 22451107 23081944 2678115 2783711 80743874 78461474 15388256 14485171 65355618 63976303 X AT GARRISON FOREST SCHOOL, WE PREPARE OUR STUDENTS IN AND OUT OF THE CLASSROOM TO THRIVE IN A COMPLEX, CHANGING WORLD BY: CHALLENGING THEM TO STRIVE FOR ACADEMIC EXCELLENCE AND TO GROW INTO INFORMED, INDEPENDENT, AND CREATIVE THINKERS; CULTIVATING AN AUTHENTIC AND RESILIENT SENSE OF SELF, GROUNDED IN RESPECT AND INTEGRITY; CREATING A DIVERSE AND INCLUSIVE COMMUNITY BUILT ON A SPIRIT OF CARING; INSPIRING YOUNG WOMEN TO LEAD AND TO SERVE WITH PASSION, PURPOSE, AND JOY. 0 0 12653488 3390159 17006334 EDUCATIONAL AND GENERAL: INCLUDES INSTRUCTION, STUDENT SUPPORT SERVICES AND PLANT MAINTENANCE TO SERVE 629 STUDENTS AT THE SCHOOL. 3543228 2185833 AUXILIARY ENTERPRISES: INCLUDES STUDENT ACTIVITIES, SUMMER ACTIVITIES AND STABLES. ACTIVITIES ARE AVAILABLE TO ALL STUDENTS. SOME ACTIVITIES ARE AVAILABLE TO THE GENERAL PUBLIC. 16196716 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 1 0 0 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 1 104 0 1 282 1 1 1 0 0 0 0 0 0 0 0 0 X 27 27 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MD X STACY MOHN CONTROLLER 4105593142 300 GARRISON FOREST ROAD OWINGS MILLS MD 21117 DAVID M DIPIETRO PRESIDENT 2.00 X X 0 0 0 CARROLL DAWBARN VICE PRESIDENT 2.00 X X 0 0 0 AMABEL BOYCE JAMES TREASURER 2.00 X X 0 0 0 TIMOTHY T WEGLICKI SECRETARY 2.00 X X 0 0 0 EMILY GARDNER BARATTA BOARD MEMBER 2.00 X 0 0 0 DR SARA N BLEICH BOARD MEMBER 2.00 X 0 0 0 ROBERT S BRENNEN BOARD MEMBER 2.00 X 0 0 0 CASSANDRA NAYLOR BROOKS BOARD MEMBER 2.00 X 0 0 0 KIMBERLY HUBBARD CASHMAN BOARD MEMBER 2.00 X 0 0 0 DIANA WARFIELD DALY BOARD MEMBER 2.00 X 0 0 0 TIMOTHY F DANIELS BOARD MEMBER 2.00 X 0 0 0 MOLLY MUNDY HATHAWAY BOARD MEMBER 2.00 X 0 0 0 TIMOTHY W HATHAWAY BOARD MEMBER 2.00 X 0 0 0 SARA LEBRUN INGRAM BOARD MEMBER 2.00 X 0 0 0 CATHERINE Y JACKSON BOARD MEMBER 2.00 X 0 0 0 PETER D MALLER BOARD MEMBER 2.00 X 0 0 0 MARK MULLIN BOARD MEMBER 2.00 X 0 0 0 C ASHTON NEWHALL BOARD MEMBER 2.00 X 0 0 0 WILLIAM PARRISH MD BOARD MEMBER 2.00 X 0 0 0 GREGORY C PINKARD BOARD MEMBER 2.00 X 0 0 0 KARAN POWELL PH D BOARD MEMBER 2.00 X 0 0 0 FRANCES RUSSELL ROCKWELL BOARD MEMBER 2.00 X 0 0 0 R TODD RUPPERT BOARD MEMBER 2.00 X 0 0 0 ELIZABETH B SEARLE BOARD MEMBER 2.00 X 0 0 0 HELEN ZINREICH SHAFER BOARD MEMBER 2.00 X 0 0 0 WILLAM B SPIRE BOARD MEMBER 2.00 X 0 0 0 WILLIAM L YERMAN BOARD MEMBER 2.00 X 0 0 0 KIMBERLEY ROBERTS - BEG 7114 HEAD OF SCHOOL 50.00 X 116074 0 37878 PETER O'NEILL - THRU 63014 HEAD OF SCHOOL 50.00 X 290713 0 43840 WILLIAM HODGETTS ASST. HEAD OF SCHOOL FOR FIN & OPS 50.00 X 196329 0 65842 DEANNA URNER DIRECTOR OF DEVELOPMENT 40.00 X 125537 0 18363 ELIZABETH ANDREWS HEAD OF PRESCHOOL 40.00 X 109004 0 16256 STEVE SONG HEAD OF LOWER SCHOOL 40.00 X 105060 0 14048 TRACI DAVIS DIRECTOR OF ATHLETICS 40.00 X 103124 0 16996 1045841 0 213223 7 0 1 0 SAGE DINING SERVICES 1402 YORK ROAD SUITE 100 LUTHERVILLE MD 21093 DINING SERVICES 768278 FIDELITY ENGINEERING 25 LOVETON CIRCLE SPARKS MD 21152 ENGINEERING 418187 RON RUFF ROOFING 5520 SOUTHWESTERN BLVD ARBUTUS MD 21227 CONSTRUCTION 109080 BRICKMAN GROUP 3630 SOLUTIONS CENTER CHICAGO IL 60677 LANDSCAPING 106106 4 2288970 432224 2288970 STUDENT TUITION FEES 900099 17253008 17253008 HORSE & STABLE INCOME 713990 1099536 704329 395207 EXT. & DAY CARE PROG. 900099 133195 133195 SCHOLARSHIPS 900099 116300 116300 CAFETERIA AND SNACK BA 722210 74280 74280 590128 590128 19266447 695902 44556 651346 151246 5244 146002 146002 146002 3450520 0 3450520 3450520 3450520 229246 211432 17814 17814 25865655 18796960 439763 4339962 3311719 3311719 78440 78440 628112 442148 160642 25322 7878753 5033967 2344329 500457 528151 366315 161836 974151 548564 314544 111043 685933 493765 192168 17500 17500 17765 17765 52295 52295 236942 236942 1254826 1224706 30120 1352911 1099306 186668 66937 500060 117059 383001 811605 811605 36605 24823 11782 12373 12373 217169 217169 1307990 784794 523196 258414 258414 OTHER EXPENSES 1131721 292893 656066 182762 STABLE 1029069 1029069 SECURITY 208919 208919 ATHLETICS 208186 208186 342335 316984 25351 23081944 16196716 5986925 898303 2500 2500 5820812 3995829 2848046 2031456 316285 633617 50934323 24513254 27014320 26421069 17355728 22079519 26538410 22312673 847773 984811 80743874 78461474 954729 1006271 4842993 3898828 9181341 9170879 409193 409193 15388256 14485171 X 19535897 19352024 16636330 15115414 29183391 29508865 65355618 63976303 80743874 78461474 2783711 -4163026 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 39002678 325474 -225686 1723725 37378741 33985816 795643 5817655 1596436 39002678 31314609 693608 3394574 1416975 33985816 32526073 328766 -143205 1397025 31314609 25114347 2909407 6026809 1524490 32526073 0.78950 0.21050 0 0 614655 614655 46382310 20963169 25419141 3937358 3550085 387273 26421069 HC CAPITAL TRUST INSTITIONAL INTERNATIONAL EQUITY PORTFOLIO (HCINX) 9840007 F HC CAPITAL TRUST INSTL GRWTH EQUITY PORTFOLIO (HCIGX) 4856544 F HEDGE FUNDS 4589133 F LIMITED PARTNERSHIPS 3026989 F 22312673 LINE OF CREDIT 409193 409193 X 18286960 -4163026 211432 -3951594 22238554 236942 3390159 3627101 25865655 19666275 211432 211432 19454843 236942 3390159 3627101 23081944 PART V, LINE 4: THE SCHOOL'S FINANCE COMMITTEE WILL ESTABLISH THE SPECIFIC DOLLAR AMOUNT THAT THE FUND WILL BE EXPECTED TO GENERATE TO CONTRIBUTE TO THE SCHOOL'S OPERATING FUND FOR THE NEXT FISCAL YEAR. THE DRAW FROM THE ENDOWMENT, OR SPENDING RATE, IS 4.0% PLUS AN ADDITIONAL 1% FOR PLANT FUND EXPENDITURES. PART X, LINE 2: THE SCHOOL HAS ADOPTED THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS POLICY, THE SCHOOL MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WOULD BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. MANAGEMENT HAS EVALUATED THE SCHOOL'S TAX POSITIONS AND HAS CONCLUDED THAT THE SCHOOL HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THIS GUIDANCE. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE JUNE 30, 2012. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD AMOUNTS NETTED WITH REVENUE 211,432. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AMOUNTS NETTED ON FINANCIAL STATEMENTS 3,390,159. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD AMOUNTS NETTED WITH REVENUE 211,432. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AMOUNTS NETTED ON FINANCIAL STATEMENTS 3,390,159. 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 BALTIMORE INDEPENDENT SCHOOL CONSORTIUM PUBLISHES ANNUALLY IN THE LOCAL NEWSPAPERS AN ANNOUNCEMENT LISTING THE NAMES OF ALL MEMBER SCHOOLS, WHICH PUTS FORWARD OUR UNIFIED NON- DISCRIMINATORY POLICY. GARRISON IS LISTED IN THIS ANNOUNCEMENT. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTS TO RECIPIENTS 78440 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 4589133 0 0 0 0 0 0 4667573 0 4667573 FINANCIAL AID EUROPE (INCLUDING ICELAND & GREENLAND) 2 78440 AMOUNT APPLIED TOWARDS TUITION 1 0 0 0 0 0 PART I, LINE 2: THE GRANT FUNDS ARE FINANCIAL AID THAT WAS APPLIED DIRECTLY TO THE STUDENTS TUITION ACCOUNT. 1 FINANCIAL AID 209 3311719 PART I, LINE 2: GFS HAS BOTH PAPER AND ELECTRONIC FILES. GFS USES FACTS, A SUPPLEMENTAL FORM, PAY STUBS, TAX RETURNS AND W-2'S TO HELP EVALUATE THE FINANCIAL NEED OF FAMILIES. THE PREVIOUS YEAR'S TAX RETURN IS USED IN THE INITIAL DECISION BUT THE AMOUNT AWARDED IS CONTINGENT UPON RECEIPT AND REVIEW OF THE CURRENT YEAR'S TAX RETURN. IF THERE IS A SIGNIFICANT DISCREPENCY BETWEEN THE INFORMATION A FAMILY PROVIDED AND THE CURRENT TAX RETURN, AN AWARD WOULD BE ADJUSTED ACCORDINGLY. FAMILIES ARE NOTIFIED IN AN AWARD LETTER THE AMOUNT THAT WILL BE APPLIED TOWARDS THEIR TUITION. A REPORT IS SENT TO THE BUSINESS OFFICE WITH THESE AWARDS AND ARE APPLIED TO THE STUDENT'S ACCOUNT. UPDATES / NEW ADDITIONS ARE SENT TO THE BUSINESS OFFICE AS NEEDED. X 1 1 X X X 1 0 0 0 0 0 0 0 0 KIMBERLEY ROBERTS - BEG 7114 HEAD OF SCHOOL 100280 0 0 0 15794 0 5250 0 32628 0 153952 0 0 0 PETER O'NEILL - THRU 63014 HEAD OF SCHOOL 135559 0 0 0 155154 0 10611 0 33229 0 334553 0 0 0 WILLIAM HODGETTS ASST. HEAD OF SCHOOL FOR FIN & OPS 195339 0 0 0 990 0 50383 0 15459 0 262171 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL RECIEVES A HOUSING ALLOWANCE. THE AMOUNT IS NOT INCLUDED IN HER TAXABLE COMPENSATION. PART I, LINE 4A PETER O'NEILL IS RECEIVING SEVERANCE OVER A 3 YEAR PERIOD. HE RETIRED ON JUNE 30, 2014. HE RECEIVED $154,122 IN SEVERANCE DURING 2014. THIS PAYMENT WAS INCLUDED IN HIS TAXABLE INCOME. A BALTIMORE COUNTY MD ECONOMIC DEVELOPMENT REVENUE BONDS GFS PROJECT 520591516 059136AY7 2006-10-01 17000000 CONSTRUCTION 0 1 0 A 3000000 12669745 4200000 117700 8352045 1 0 1 1 A 0 0 0 0 0 0 0 A 1 0 0 0 0 0 A 0 PART III, LINE 9, PART IV, LINE 7 AND PART V: THE ORGANIZATION IS WORKING ON ESTABLISHING WRITTEN PROCEDURES TO APPROPRIATELY MONITOR BONDS AND EXPECTS ALL PROCEDURES TO BE IN PLACE FOR THE YEAR ENDING JUNE 30, 2016. X 10 432224 MKT PRICE - DATE OF TRAN 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 MOLLY HATHAWAY AND TIM HATHAWAY HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE FINAL DRAFT OF THE 990 WILL BE DISTRIBUTED AND REVIEWED IN THE FINANCE COMMITTEE, THEN MADE AVAILABLE TO THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C ANY TRUSTEE, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH THE BOARD OF TRUSTEES, WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST, IS AN INTERESTED PERSON. AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF ANY FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE MEMBERS OF THE BOARD COMMITTEE CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE OR SHE SHALL LEAVE THE COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. IF A BOARD COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE A FINANCIAL INTEREST OR AN ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, THE BOARD COMMITTEE SHALL INFORM THE MEMBER OF THE BASIS TO SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE A FINANCIAL INTEREST OR AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL REPORT THE MATTER TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FOR APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. THE PROCEEDINGS ARE DOCUMENTED IN THE MINUTES OF BOARD COMMITTEES. FORM 990, PART VI, SECTION B, LINE 15A IN DETERMINING THE COMPENSATION LEVEL FOR THE HEAD OF SCHOOL, LOCAL AND NATIONAL COMPARABLE STATISTICS ARE GATHERED, REVIEWED AND DOCUMENTED BY THE EXECUTIVE COMMITTEE OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D).