2015-05-14T08:44:18-05:00 2014-06-30 MALONEY NOVOTNY LLC 1111 SUPERIOR AVENUE SUITE 700 CLEVELAND OH 44114 990 2013-07-01 340714451 LAUREL SCHOOL % LEE MEI STOKES LAUR 2164641441 1 LYMAN CIRCLE Suite SHAKER HEIGHTS OH 44122 LEE MEI STOKES CFO 2164641441 2015-05-12 true CHRISTOPHER B ANDERSON P00226559 2164641441 2013 2016-02-25 16:41:14Z ANN V KLOTZ 1 LYMAN CIRCLE SHAKER HEIGHTS OH 44122 32659265 false X WWW.LAURELSCHOOL.ORG X 1926 OH THE MISSION OF LAUREL SCHOOL IS TO INSPIRE EACH GIRL TO FULFILL HER PROMISE AND TO BETTER THE WORLD. 27 27 378 100 -13582 -13582 2589182 4068419 16328488 16557313 2282559 1914477 10107 16174 21210336 22556383 2524476 2676336 0 0 12171202 12668938 0 0 1282683 7528033 8146658 22223711 23491932 -1013375 -935549 82949204 87924745 23261174 23577887 59688030 64346858 THE MISSION OF LAUREL SCHOOL IS TO INSPIRE EACH GIRL TO FULFILL HER PROMISE AND TO BETTER THE WORLD. false false 19203704 2676336 16557313 LAUREL SCHOOL, FOUNDED IN 1896, IS A NATIONALLY-RECOGNIZED COLLEGE PREPARATORY, INDEPENDENT DAY SCHOOL FOR GIRLS, KINDERGARTEN THROUGH GRADE 12, WITH A COEDUCATIONAL EARLY CHILDHOOD PROGRAM. LAUREL SCHOOL HAS TWO CAMPUSES AFFORDING STUDENTS OPPORTUNITIES TO LEARN IN TRADITIONAL SETTINGS SUCH AS LABS, STUDIOS, AND LIBRARIES, AS WELL AS IN OUR UNIQUE ENVIRONMENTAL CLASSROOMS. THE LYMAN CIRCLE CAMPUS IS HOME TO ALL FOUR ACADEMIC DIVISIONS. THE BUTLER CAMPUS FEATURES EXTENSIVE ATHLETIC FACILITIES AND OPPORTUNITIES FOR OUTDOOR EDUCATION AND LEADERSHIP-BUILDING PROGRAMS. LAUREL SCHOOL HAS APPROXIMATELY 663 STUDENTS ENROLLED. 19203704 true true false false false false false false false true true true false false true true true false true false false false false false true false false false true true true false false false false false false false false false false true false false false false false false false false true 44 0 true 378 true true true false false false false true true false false false false X 27 27 false false false false true true false true true false false false true true true true false true false false X LEE MEI STOKES 2164641441 1 LYMAN CIRCLE SHAKER HEIGHTS OH 44122 Kenneth C Moore Chair 6.0 X X 0 0 0 Elizabeth Embrescia Vice Chair 4.0 X X 0 0 0 Lynette Jackson Secretary 4.0 X X 0 0 0 Douglas Preiser Treasurer 4.0 X X 0 0 0 Teresa Beasley Trustee 2.0 X 0 0 0 Shannon Blackwell Trustee 2.0 X 0 0 0 Susan Collins Bosland Trustee 2.0 X 0 0 0 Daniel L DeSantis Trustee 2.0 X 0 0 0 Timothy D Dixon Trustee 2.0 X 0 0 0 Diane Downing Trustee 2.0 X 0 0 0 Mary Weatherhead Feldman Trustee 2.0 X 0 0 0 Lee Hoffman Trustee 2.0 X 0 0 0 Carey Jaros Trustee 2.0 X 0 0 0 Bettina Katz Trustee 2.0 X 0 0 0 Terry Horvitz Kovel Trustee 2.0 X 0 0 0 Paige Lauster Trustee 2.0 X 0 0 0 Bruce Mavec Trustee 2.0 X 0 0 0 John McCue Trustee 2.0 X 0 0 0 Jacquelyn Nance Trustee 2.0 X 0 0 0 Melissa O'Dwyer Trustee 2.0 X 0 0 0 Victoria Anderson Patacca Trustee 2.0 X 0 0 0 Nancy Phelps Seitz Trustee 2.0 X 0 0 0 John Sinnenburg Trustee 2.0 X 0 0 0 Lois Nook Sussen Trustee 2.0 X 0 0 0 Sandhia Varyani Trustee 2.0 X 0 0 0 Elizabeth Hosler Voudouris Trustee 2.0 X 0 0 0 Martha Walter Royan President, Alumnae Assoc 2.0 X 0 0 0 Ann V Klotz Head of School 60.0 X 303998 0 55353 Linda S Hurley CFO 50.0 X 137842 0 19554 Deborah Farquhar Jones Dir of Development 50.0 X 140795 0 16745 582635 0 91652 3 false true false SAGE DINING SERVICES INC 1402 YORK ROAD 100 LUTHERVILLE MD 21093 FOOD SERVICES 731971 ALBERT M HIGLEY COMPANY 2926 CHESTER AVENUE CLEVELAND OH 44114 CONSTRUCTION MGMT 2143211 WARREN ROOFING INSULATING CO 7015 KRICK ROAD WALTON HILLS OH 44146 CONSTRUCTION 172405 3 168025 617939 3282455 607690 4068419 TUITION AND FEES 900099 15730292 15730292 AUXILIARY OPERATIONS 900099 505676 505676 OTHER OPERATING REVENUE 900099 321345 321345 16557313 862521 862521 0 0 0 0 0 11027303 9975347 1051956 1051956 1051956 132680 168025 127535 5145 5145 0 0 GAS WELL OPERATIONS 211110 11029 -13582 24611 11029 22556383 16557313 -13582 1944233 0 2676336 2676336 0 0 516387 410292 74613 31482 0 9048459 7184097 1306446 557916 196147 155739 28321 12087 2178552 1729748 314559 134245 729393 579131 105316 44946 8400 6669 1213 518 31711 25178 4579 1954 31950 25368 4613 1969 0 0 0 0 400253 317797 57792 24664 340720 270528 49196 20996 661273 525044 95481 40748 0 0 33316 26453 4810 2053 0 0 743482 590317 107351 45814 0 1752061 1391119 252978 107964 108414 86079 15654 6681 EQUIP RENTAL & MAINT 732860 581883 105817 45160 FOOD SERVICE 662633 526124 95677 40832 OUTSIDE CONTRACTED SERVICES 349812 277747 50509 21556 FIELD TRIPS 368952 292944 53273 22735 1920821 1525111 277347 118363 23491932 19203704 3005545 1282683 1402881 1149927 1491452 1556134 3020403 3392004 67754 304805 0 0 0 0 0 0 0 0 770537 638300 47009159 19787637 26835620 27221522 43180903 45995366 5251044 6700873 0 0 0 0 928610 965814 82949204 87924745 1921162 2083884 0 0 393995 469229 16000000 16000000 0 0 0 0 0 0 0 0 4946017 5024774 23261174 23577887 X 32314254 34506973 6988750 8731708 20385026 21108177 59688030 64346858 82949204 87924745 X -935549 5700113 -105736 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 44822525 469162 7515385 2069095 50737977 40301050 434875 5509691 1423091 44822525 41024695 1263918 -542606 1444957 40301050 35092235 642204 6778002 1487746 41024695 31153302 1038415 3786729 886211 35092235 0.50983 0.36093 0.12924 false false 2690685 2690685 30695854 12547094 18148760 2956780 2475994 480786 10665840 4764549 5901291 27221522 ALTERNATIVE INVESTMENTS 6700873 F 6700873 0 TUITION DEPOSITS 817400 GIFT ANNUITY LIABILITY 409800 AGENCY FUNDS 192101 INTEREST RATE SWAP LIABILITY 3605473 5024774 X 25474424 5700113 -105736 5594377 19880047 2676336 2676336 22556383 20815596 20815596 2676336 2676336 23491932 INTENDED USES OF ENDOWMENT FUNDS - PART V, LINE 4: DISTRIBUTIONS FROM ENDOWMENT FUNDS ARE SPENT IN COMPLIANCE WITH THE DONOR'S RESTRICTIONS APPLICABLE TO THE FUNDS BEING DISTRIBUTED. ANNUAL DISTRIBUTIONS FROM ENDOWMENT FUNDS ARE DETERMINED USING A MIXED SPENDING RULE OF 80 PERCENT OF THE PRIOR YEAR SPENDING AND 20 PERCENT OF THE 5 PERCENT SPENDING RATE TIMES THE ENDOWMENT MARKET VALUE. ALL EXPENDITURES FROM THE ENDOWMENT FUNDS ARE USED TO FURTHER THE EDUCATIONAL PURPOSES OF THE SCHOOL. OTHER CHANGES IN REVENUE - PART XI, LINE 2D: CHANGE IN INTEREST RATE SWAP LIABILITY: ($105,736) OTHER CHANGES IN REVENUE - PART XI, LINE 4B: STUDENT FINANCIAL AID, WHICH WAS SHOWN ON FINANCIAL STATEMENTS AS A REDUCTION OF REVENUE INSTEAD OF BEING SHOWN AS AN EXPENSE: $2,676,336 OTHER CHANGES IN EXPENSES - PART XII, LINE 4B: STUDENT FINANCIAL AID, WHICH WAS SHOWN ON FINANCIAL STATEMENTS AS A REDUCTION OF REVENUE INSTEAD OF BEING SHOWN AS AN EXPENSE: $2,676,336 FIN 48 (ASC 740) FOOTNOTE - PART X, LINE 2: THE SCHOOL IS A NON-PROFIT ORGANIZATION THAT IS TAX EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IT BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AND, AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. AS OF JUNE 30, 2014, THE SCHOOL'S INCOME TAX YEARS FROM 2010 AND THEREAFTER REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE, AS WELL AS VARIOUS STATE AND LOCAL TAXING AUTHORITIES. true true true true true true true false false false false false false false false true false true PUBLICATION OF RACIALLY NON-DISCRIMINATORY POLICY - PART I, LINE 3: LAUREL SCHOOL PUBLISHES NOTICES OF ITS RACIALLY NON-DISCRIMINATORY POLICY IN ITS ADMISSION MATERIALS AND IN ITS SCHOOL MAGAZINE WHICH IS DISTRIBUTED TO CURRENT AND PROSPECTIVE STUDENTS. ASSISTANCE FROM GOVERNMENTAL AGENCY - PART I, LINE 6A: LAUREL SCHOOL RECEIVES FUNDING FROM THE STATE OF OHIO FOR SALARIES AND PROFESSIONAL FEES AND TO REIMBURSE THE SCHOOL FOR STATE-MANDATED SERVICES. AUCTION 292415 168025 124390 8000 64186 50733 BAZAAR 8290 8290 4616 0 300705 168025 132680 8000 64186 55349 127535 5145 true SCHOLARSHIPS 249 2676336 MONITORING USE OF GRANT FUNDS - PART I, LINE 2: THE SCHOOL CREDITS THE BILLING ACCOUNT OF EACH RECIPIENT FOR THE AMOUNT OF THE SCHOLARSHIP. IN THIS WAY, THE SCHOOL IS ASSURED THAT THE SCHOLARSHIPS ARE USED FOR THE INTENDED PURPOSE OF DEFRAYING EDUCATIONAL EXPENSES FOR EACH RECIPIENT. X true true X X X false false false false false false false false false Ann V Klotz Head of School 303998 0 0 0 0 0 6980 0 48373 0 359351 0 0 0 Linda S Hurley CFO 137842 0 0 0 0 0 6025 0 13529 0 157396 0 0 0 Deborah Farquhar Jones Dir of Development 140795 0 0 0 0 0 3216 0 13529 0 157540 0 0 0 BENEFITS PROVIDED TO CERTAIN INDIVIDUALS - PART I, LINE 1A: THE SCHOOL PROVIDES A HOUSE TO THE HEAD OF SCHOOL, ANN KLOTZ, BECAUSE SHE CONDUCTS A SUBSTANTIAL AMOUNT OF SCHOOL BUSINESS IN HER RESIDENCE. THE HOUSE IS ON THE SCHOOL'S SHAKER HEIGHTS CAMPUS. BECAUSE OF THE SUBSTANTIAL BUSINESS USE OF THE RESIDENCE, THE SCHOOL DOES NOT TREAT THIS BENEFIT AS TAXABLE TO MS. KLOTZ. ADDITIONAL INFORMATION REGARDING NONTAXABLE BENEFITS - PART II, COLUMN D: THE AMOUNT OF NONTAXABLE BENEFITS SHOWN IN COLUMN D FOR MS. KLOTZ CONSISTS OF THE FOLLOWING: CONTRIBUTIONS TO WELFARE PLANS (MEDICAL, DENTAL, LIFE, DISABILITY): $17,343; TUITION REMISSION FOR 1 CHILD: $23,886; CAR: $7,144; TOTAL: $48,373. A CLEVELAND-CUYAHOGA COUNTY PORT AUTHORITY 341029691 186102AB5 2008-04-10 16000000 EDUCATIONAL FACILITY BONDS false false false A 0 0 16000000 0 0 0 270371 0 0 6546571 9105000 53307 2011 true false false A false false false false 0.00000 0.00000 0.00000 false false false false A false false false true true true PIPER JAFFRAY 30. false false false 0 false A false X 48 607690 FMV false true true USE OF THIRD PARTIES - PART I, LINE 32B: DONORS MAKING A GIFT OF SECURITIES TO LAUREL SCHOOL ARE DIRECTED TO TRANSFER THEIR SHARES OF STOCK TO THE SCHOOL'S ACCOUNT AT UBS FINANCIAL SERVICES. UBS IS INSTRUCTED TO SELL ALL SECURITIES TRANSFERRED TO THE ACCOUNT AND TO FORWARD THE PROCEEDS TO THE SCHOOL. THE FEES CHARGED BY UBS ARE AT FAIR MARKET VALUE AND ARE IN ACCORDANCE WITH FEES CHARGED TO OTHER UBS CLIENTS. MEMBERS OF THE CORPORATION - FORM 990, PART VI, LINE 6: THE MEMBERS OF THE CORPORATION ARE THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS IS COMPRISED OF THE MEMBER DIRECTORS, EX-OFFICIO DIRECTORS, AND DIRECTORS EMERITAE/I. POWERS OF THE MEMBERS OF THE CORPORATION - FORM 990, PART VI, LINE 7A: THE AUTHORITY OF THE SCHOOL IS EXERCISED BY THE BOARD OF DIRECTORS. THE DIRECTORS' PRIMARY DUTIES INCLUDE THE HIRING AND EVALUATION OF THE HEAD OF SCHOOL, THE SETTING OF GENERAL INSTITUTIONAL POLICIES, FINANCIAL OVERSIGHT, STRATEGIC PLANNING, FUND RAISING, AND ASSESSMENT OF THE SCHOOL'S EFFECTIVENESS IN MANIFESTING THE MISSION OF LAUREL. FORM 990 REVIEW - FORM 990, PART VI, LINE 11B: THE BOARD OF TRUSTEES HAS DELEGATED THE RESPONSIBILITY TO REVIEW FORM 990 PRIOR TO ITS FILING TO THE AUDIT/FINANCE COMMITTEE. THE INDEPENDENT ACCOUNTING FIRM ASSISTS WITH THIS REVIEW. MONITORING AND ENFORCEMENT OF CONFLICT POLICY - FORM 990,PART VI,LINE 12C: CONFLICTS ARE IDENTIFIED VIA THE ANNUAL DISCLOSURE DOCUMENTS. SUCH CONFLICTS ARE SHARED WITH THE BOARD OF TRUSTEES AS APPROPRIATE. WHEN A CONFLICT ARISES, THE AFFECTED INDIVIDUAL IS NOT PERMITTED TO PARTICIPATE IN THE DISCUSSIONS OR TO VOTE ON THE MATTER. THE APPROVAL OR REJECTION OF THE TRANSACTION IS MADE BY PERSONS WHO ARE INDEPENDENT OF THE INDIVIDUAL WITH THE CONFLICT. COMPENSATION REVIEW AND APPROVAL - FORM 990, PART VI, LINE 15: THE COMPENSATION OF THE HEAD OF THE SCHOOL IS REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE COMMITTEE USES COMPARABILITY DATA IN THEIR DELIBERATIONS AND DOCUMENTS THEIR DECISION-MAKING PROCESS IN THE MINUTES. THE BOARD MEMBERS MAKING THE COMPENSATION DECISION ARE INDEPENDENT OF THE HEAD OF THE SCHOOL. AVAILABILITY OF DOCUMENTS - FORM 990, PART VI, LINE 19: THE SCHOOL DOES NOT MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, OR CONFLICT POLICY AVAILABLE TO THE GENERAL PUBLIC. BOARD APPROVAL OF POLICIES - FORM 990, PART VI, LINES 13, 14, AND 16: LAUREL SCHOOL'S MANAGEMENT HAS DEVELOPED AND IMPLEMENTED A WRITTEN DOCUMENT RETENTION POLICY AND A POLICY FOR JOINT VENTURES. THESE POLICIES WERE NOT APPROVED BY THE BOARD OF TRUSTEES BY THE END OF THE FISCAL YEAR. AS SUCH, THE SCHOOL IS REQUIRED TO ANSWER THESE QUESTIONS "NO" IN PART VI OF FORM 990 EVEN THOUGH SUCH POLICIES ARE IN PLACE. OTHER CHANGES IN NET ASSETS - FORM 990, PART XI, LINE 9: CHANGE IN INTEREST RATE SWAP LIABILITY: ($105,736) DISTRIBUTION OF FORM 990 TO GOVERNING BODY - FORM 990, PART VI, LINE 11A: THE SCHOOL DISTRIBUTES A COPY OF FORM 990 TO ALL BOARD MEMBERS BUT REDACTS THE NAMES AND ADDRESSES OF DONORS FROM SCHEDULE B. THE SCHOOL HAS CHOSEN NOT TO DISCLOSE THE IDENTITY OF ITS DONORS, PARTICULARLY IN CASES IN WHICH THE DONOR WANTS TO REMAIN ANONYMOUS. AS SUCH, WE ARE REQUIRED TO ANSWER THE QUESTION IN LINE 11A "NO" EVEN THOUGH THE BOARD RECEIVES ALL OF FORM 990 EXCEPT FOR DONORS' NAMES AND ADDRESSES.