2016-05-16T15:00:56-05:00 2015-06-30 205991824 SC&H TAX & ADVISORY SERVICES LLC 910 RIDGEBROOK ROAD SPARKS MD 21152 990 2014-07-01 520591625 THE PARK SCHOOL OF BALTIMORE PARK 4103397070 2425 OLD COURT ROAD BALTIMORE MD 21208 JOAN WEBBER DIRECTOR OF FINANCE 4103397070 2016-05-13 1 LORI S BURGHAUSER P00370694 4104031500 2016-05-10 2014 2016-08-17 19:52:53Z JOAN WEBBER 2425 OLD COURT ROAD BALTIMORE MD 21208 43081854 0 X WWW.PARKSCHOOL.NET X 1940 MD TO PROVIDE EDUCATION TO STUDENTS FROM PRE-KINDERGARTEN THROUGH TWELFTH GRADE. 24 23 423 1000 1433 433 2417671 3185787 22137595 22718224 1151151 2642765 248126 359069 25954543 28905845 4967848 5482489 0 0 13790392 14302268 0 0 813697 5907679 6694428 24665919 26479185 1288624 2426660 71162824 71988236 17305082 17135211 53857742 54853025 X THE PARK SCHOOL, FOUNDED IN 1912, IS A NON-SECTARIAN, INDEPENDENT CO-EDUCATIONAL DAY SCHOOL EDUCATING STUDENTS FROM PRE-KINDERGARTEN THROUGH TWELFTH GRADE. AS ONE OF THE EARLY PROGRESSIVE SCHOOLS, PARK'S CORE VALUES TODAY, AS AT ITS FOUNDING, ARE A BELIEF IN CHILDREN'S CAPACITY TO ENJOY LEARNING, TO ACT RATIONALLY, AND TO GROW WHEN INSPIRED BY HIGHLY QUALIFIED, CARING TEACHERS. A COMMITMENT TO EQUITY AND INCLUSIVENESS ARE FUNDAMENTAL TO PARK'S PHILOSOPHY. 0 0 19965547 5482489 21618325 INSTRUCTION & OTHER ACADEMIC PROGRAM EXPENSES - GENERAL OPERATION OF THE SCHOOL; PROVIDING BASIC EDUCATION FOR GRADES KINDERGARTEN THROUGH 12. 1184143 605932 AUXILIARY PROGRAMS & SPECIAL ACTIVITIES - EXPENSES ASSOCIATED WITH PROVIDING SUMMER CAMP, EXTENDED DAY, AND SPECIAL PROGRAMS FOR THE BENEFIT OF THE STUDENTS. 21149690 1 1 0 0 0 0 1 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 39 0 423 1 1 1 0 0 0 0 0 0 0 0 0 X 24 23 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MD X JOAN WEBBER 4103394161 2425 OLD COURT ROAD BALTIMORE MD 21208 BRUCE FLEMING PRESIDENT OF THE BOARD 1.00 X X 0 0 0 DAN HIRSCHHORN VICE PRESIDENT OF THE BOARD 1.00 X X 0 0 0 PETE SACHS TREASURER 1.00 X X 0 0 0 LEONARD WEINBERG SECRETARY OF THE BOARD 1.00 X X 0 0 0 LISA DVORINE ABRAMS MD MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 SARAH BAIRD MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 BRIAN BERGHUIS MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 DAN CUMMINGS MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 REID CURLEY MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 NICHELLE HERMANN MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 DANIEL KLEIN MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 RAJ KRISHNAN MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 AMY MILLIN MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 RAMESH MOORTHY MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 NDO OSIAS MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 ELIZABETH RODINI MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 DEVY RUSSELL MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 ELISABETH SACHS MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 JM SCHAPIRO MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 SARAH HIRSCHHORN SHAPIRO MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 STEVEN SIBEL MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 MARIA HARRIS TILDON MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 THOMAS WETZLER MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 JEAN WYMAN MEMBER, BOARD OF TRUSTEES 1.00 X 0 0 0 DAN PARADIS HEAD OF SCHOOL 40.00 X 245851 0 53779 JOAN WEBBER DIR OF FINANCE & OPERATIONS 40.00 X 175841 0 27308 ROGER SEIDENMAN DIRECTOR OF DEVELOPMENT 40.00 X 159561 0 60239 BETSY LEIGHTON ASSOCIATE HEAD OF SCHOOL 40.00 X 147818 0 29261 W RIDGELY DIVEN FACULTY 40.00 X 114378 0 20598 JOSHUA WOLF MIDDLE SCHOOL PRINCIPAL 40.00 X 105999 0 99971 JUNE BENNETT FACULTY 40.00 X 105776 0 13837 1055224 0 304993 8 0 1 0 SPORTS CONSTRUCTION MANAGEMENT 4509 S NC HIGHWAY 150 LEXINGTON NC 27295 CONSTRUCTION 954345 CHARTWELLS PO BOX 91337 CHICAGO IL 60693 CAFETERIA 419832 CHRISTAR INC 2335 WILLOW VALE DRIVE FALLSTON MD 21047 CLEANING 285130 EMS TECHNOLOGIES 2134 ESPEY COURT SUITE 5 CROFTON MD 21114 CONSTRUCTION 151020 MT LANEY 5400 ENTERPRISE STREET ELDERSBURG MD 21784 CONSTRUCTION 119206 5 15253 3170534 211802 3185787 TUITION & FEES 611600 21618325 21618325 CAFETERIA 722210 414441 414441 EXTENDED DAY 611600 215099 215099 SUMMER CAMP 611600 202998 202998 BUS OPERATIONS 485000 173626 173626 93735 93735 22718224 1105522 1433 1104089 283628 52421 231207 231207 231207 15518510 13945354 35913 1573156 -35913 1537243 1537243 176083 142321 33762 33762 MISCELLANEOUS 611600 94100 94100 94100 28905845 22224257 1433 3494368 5482489 5482489 610756 509990 100766 11393840 8791128 2027739 574973 675992 481973 160890 33129 785710 426990 339124 19596 835970 658903 137944 39123 47457 47457 46003 46003 149313 149313 13516 13516 215976 215976 151770 73217 67269 11284 113201 113201 1010072 1010072 330676 330676 1409027 1402687 6340 139165 136369 2796 CAF. AND BUS OPERATIONS 763017 763017 OTHER EXPENSES 456477 50986 405491 EDUCATION/EXTENDED DAY 428097 428097 FACA CONTRACTS/SUPPORT 269099 269099 1151562 801042 217724 132796 26479185 21149690 4515798 813697 4022 39 9367642 6032411 2422715 1990297 245064 209409 75000 0 18255 28717 605301 582368 40491249 15584144 24341229 24907105 25937364 30197512 8045766 7913265 100466 127113 71162824 71988236 1895843 1794334 2943249 3316354 11960886 11523307 505104 501216 17305082 17135211 X 22538280 23986218 13053213 12188368 18266249 18678439 53857742 54853025 71162824 71988236 X 2426660 -1444085 12708 X X 0 1 X 1 0 X 1565232 4762589 4152140 2417671 3185787 16083419 1565232 4762589 4152140 2417671 3185787 16083419 1656530 14426889 639148 669578 875653 880861 1387717 4452957 1166 3820 876 822 433 7117 199607 182898 668297 191024 176083 1417909 21961402 111044745 0.65690 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING AND INVENTORY RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 10 30.00 1 0 0.00 0 34364917 2108567 1069040 1318680 36223844 29150681 1769419 4646290 1201473 34364917 25520046 1709149 3048174 1126688 29150681 23624121 3493000 -208958 1388117 25520046 19025962 1028021 4534975 964337 23624621 0.27040 0.48080 0.24880 0 0 3583157 3583157 31682383 14129087 17553296 5122965 1455057 3667908 102744 102744 24907105 ALTERNATIVE INVESTMENTS 7913265 F 7913265 DUE TO STUDENT ORGANIZATIONS 31202 INTEREST RATE SWAP CONTRACT 470014 501216 X 20586229 -1444085 12708 -1431377 22017606 149313 6738926 6888239 28905845 19590946 35913 35913 19555033 149313 6774839 6924152 26479185 PART II, LINE 9: THE EXPENSES ARE CATEGORIZED AS ENGINEERING, PERMITS AND OTHER ASSOCIATED FEES. THERE IS NOT A FOOTNOTE IN THE FINANCIAL STATEMENTS FOR THE CONSERVATION EASEMENTS. PART V, LINE 4: THE PURPOSE OF THE ENDOWMENT IS TO ALLOW THE SCHOOL TO CONTINUE TO CARRY OUT ITS MISSION OF PROVIDING EXTRAORDINARY EDUCATION FOR ITS STUDENTS. THE ENDOWMENT SUPPORTS CURRENT OPERATIONS AND HELPS SECURE FINANCIAL STABILITY AS THE SCHOOL ENTERS ITS SECOND CENTURY. PART X, LINE 2: ASC 740, INCOME TAXES (ASC 740), PRESCRIBES A RECOGNITION THRESHOLD AND A MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN AS WELL AS GUIDANCE ON DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES AND FINANCIAL STATEMENT REPORTING DISCLOSURES. FOR THESE BENEFITS TO BE RECOGNIZED, A TAX POSITION MUST BE MORE-LIKELY-THAN NOT TO BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE AMOUNT RECOGNIZED IS MEASURED AS THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN FIFTY PERCENT LIKELY OF REALIZED UPON ULTIMATE SETTLEMENT. THE SCHOOL RECOGNIZES INTEREST AND PENALTIES ACCRUED ON ANY UNRECOGNIZED TAX EXPOSURE AS A COMPONENT OF INCOME TAX EXPENSE. THE SCHOOL DOES NOT HAVE ANY AMOUNTS ACCRUED RELATING TO INTEREST AND PENALTIES AS OF JUNE 30, 2015 AND 2014. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN ON INTEREST RATE SWAP CONTRACT 12,708. PART XI, LINE 4B - OTHER ADJUSTMENTS: EXPENSES NETTED WITH REVENUE ON FINANCIAL STATEMENT 1,292,350. FINANCIAL ASSISTANCE GRANTS NETTED WITH REVENUE ON FINANCIAL STATEMENT 5,482,489. LOSS ON DISPOSAL OF FIXED ASSETS -35,913. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF FIXED ASSETS 35,913. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE GRANTS NETTED WITH REVENUE ON FINANCIAL STATEMENT 5,482,489. EXPENSES NETTED WITH REVENUE ON FINANCIAL STATEMENT 1,292,350. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 SCHOOL IS ALIGNED WITH AIMS (A CONSORTIUM OF INDEPENDENT SCHOOLS) AND ADVERTISES THROUGH THEM. ALL ADS AND SCHOOL LITERATURE STATE THE NON-DISCRIMINATORY POLICY. SCHEDULE E, PART I, LINE 6 THE PARK SCHOOL RECEIVES FEDERAL FUNDS FROM THE E-RATE PROGRAM THAT SUBSIDIZES PHONE, INTERNET, AND WEBSITE SERVICES. THE AMOUNT OF FUNDING THAT WAS RECEIVED FOR FY 2015 WAS $15,253. CENTRAL AMERICA AND THE CARIBBEAN - 0 0 INVESTMENTS 3493854 0 0 0 0 0 0 3493854 0 3493854 0 0 1 0 1 0 1 FINANCIAL ASSISTANCE TO STUDENTS 295 5482489 EXPLANATION FAMILIES RECEIVING FINANCIAL ASSISTANCE MUST GO THROUGH AN EXTENSIVE APPLICATION PROCESS. THEIR FINANCIAL AID AWARD IS DETERMINED BASED ON MULTIPLE FACTORS INCLUDING AMONG OTHERS, INCOME, ASSETS, AND LIABILITIES. FAMILIES MUST RE-APPLY FOR EACH SCHOOL YEAR. X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 DAN PARADIS HEAD OF SCHOOL 201633 0 0 0 44218 0 13633 0 40146 0 299630 0 0 0 JOAN WEBBER DIR OF FINANCE & OPERATIONS 158341 0 0 0 17500 0 11178 0 16130 0 203149 0 0 0 ROGER SEIDENMAN DIRECTOR OF DEVELOPMENT 159561 0 0 0 0 0 9574 0 50665 0 219800 0 0 0 BETSY LEIGHTON ASSOCIATE HEAD OF SCHOOL 147818 0 0 0 0 0 9572 0 19689 0 177079 0 0 0 JOSHUA WOLF MIDDLE SCHOOL PRINCIPAL 105999 0 0 0 0 0 6926 0 93045 0 205970 0 0 0 PART I, LINE 1A DAN PARADIS, HEAD OF SCHOOL, IS THE ONLY EMPLOYEE RECEIVING ANY OF THESE BENEFITS. THESE BENEFITS ARE INCLUDED IN DAN PARADIS'S W-2 TAXABLE COMPENSATION AND ARE PART OF HIS COMPENSATION PACKAGE. THE VALUE OF THE HOUSING ALLOWANCE IS $11,988. THE VALUE OF THE TAX GROSS UP PAYMENT IS $1,496. A MARYLAND HEALTH AND HIGHER EDUCATION FACILITIES AUTHORITY (MHHEFA) 520936091 2010-12-01 14590000 REFUNDING OF 2000 AND 2002 BONDS 0 0 0 A 3066693 14590000 14590000 2011 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 1 1 SUNTRUST 10.000000000000 0 0 0 0 0 A 1 CHILD OF BOARD MEMBER 9235 FINANCIAL AID EDUCATION X 21 211802 FMV 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 DANIEL HIRSCHHORN AND SARAH HIRSCHHORN SHAPIRO ARE SIBLINGS AND BOTH ARE MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM. THE HEAD OF SCHOOL, DIRECTOR OF FINANCE & OPERATIONS, THE TREASURER OF THE BOARD OF TRUSTEES AND THE PRESIDENT OF THE BOARD OF TRUSTEES REVIEW THE FORM 990 BEFORE IT IS FILED WITH THE IRS AND MADE AVAILABLE TO THE ENTIRE GOVERNING BODY. BOARD MEMBERS ARE NOTIFIED WHEN THE 990 IS COMPLETE AND AVAILABLE IN THE BUSINESS OFFICE FOR REVIEW UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF TRUSTEES AND KEY EMPLOYEES ARE REQUIRED TO ANNUALLY READ AND SIGN THE CONFLICT OF INTEREST POLICY AND TO DISCLOSE, IF NECESSARY, ANY CONFLICTS THEY HAVE. AT THE BEGINNING OF EACH FISCAL YEAR, ALL SENIOR MANAGEMENT AND ALL COMMITTEE MEMBERS, BOARD OF TRUSTEES OR OTHERWISE, RECEIVE THE CONFLICT OF INTEREST POLICY. THEY ARE GATHERED BY THE HEAD OF SCHOOL'S ASSISTANT TO ASCERTAIN THAT ONE HAS BEEN RECEIVED BY EACH PERSON. THE POLICY PROVIDES A DEFINITION OF A CONFLICT OF INTEREST AND STATES THE INDIVIDUAL'S RESPONSIBILITY FOR DISCLOSING CONFLICTS. GENERALLY, MEMBERS SELF-IDENTIFY IF AND WHEN ONE SHOULD ARISE. IF THEY ARE UNCERTAIN AS TO WHETHER OR NOT A CONFLICT ACTUALLY EXISTS, THEY WILL CONSULT WITH THE COMMITTEE CHAIR OR STAFF MEMBER, OR THEY MAY ASK THE COMMITTEE. IF IT IS DETERMINED THAT A CONFLICT OF INTEREST EXISTS, THE INDIVIDUAL RECUSES HIMSELF FROM THE CONVERSATION AS TO NOT INFLUENCE THE DECISIONS OR RECOMMENDATIONS MADE BY THE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 A REVIEW IS PERFORMED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES AND SCHOOL COUNCIL TO DETERMINE COMPENSATION FOR THE HEAD OF SCHOOL. FOR OTHER KEY EMPLOYEES AND TOP MANAGEMENT, SALARIES ARE DETERMINED BY THE HEAD OF SCHOOL. WHEN DETERMINING SALARIES, THE HEAD OF SCHOOL AND CFO REVIEW AND CONSIDER PEER SCHOOL DATA MADE AVAIABLE BY NAIS AND AIMS. THEY ALSO REVIEW THE 990S OF PEER SCHOOLS TO DETERMINE THAT KEY EMPLOYEES RECEIVE COMPARABLE PAY. EMPLOYEES' SALARY INCREASES ARE APPROVED BY THE BOARD OF TRUSTEES AND DOCUMENTED IN THE BOARD OF TRUSTEE MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE PARK SCHOOL OF BALTIMORE'S FORM 990 IS AVAILABLE ON WWW.GUIDESTAR.COM. THE PARK SCHOOL OF BALTIMORE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON INTEREST RATE SWAP ON LONG TERM DEBT 12,708. FORM 990, PAGE 12, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. THE PARK SCHOOL PARENTS ASSOCIATION INC 2425 OLD COURT ROAD BALTIMORE MD 21208 237280445 COMMUNICATIONS, PARENT EDUCATION, COMMUNITY SUPPORT, SPECIAL PROJECTS MD 501(C)(3) LINE 11C, III-FI NONE 0 0 0 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0