2015-05-14T15:18:54-05:00 2014-06-30 420714325 MCGLADREY LLP 100 INTERNATIONAL DRIVE SUITE 1400 BALTIMORE MD 21202 990 2013-07-01 520591510 CALVERT SCHOOL INC CALV 4102436054 105 TUSCANY ROAD BALTIMORE MD 21210 JOSEPH P MCGRAW DIR OF FINANCE & OPERATIONS 4102436054 2015-05-12 1 JULIA FLANNERY CPA P00928918 4102469300 2013 2016-02-25 16:41:14Z CALVERT SCHOOL ANDREW D HOLMGREN 105 TUSCANY ROAD BALTIMORE MD 21210 38865251 0 X WWW.CALVERTSCHOOLMD.ORG X 1897 MD CALVERT SCHOOL IS DEDICATED TO EDUCATING BOYS AND GIRLS THROUGH ITS TIME-TESTED METHOD OF TEACHING AND ITS RIGOROUS CURRICULUM. PARTICULAR EMPHASIS IS GIVEN TO MASTERING ESSENTIAL SKILLS, INSPIRING A LIFELONG LOVE OF LEARNING, AND INSTILLING ENTHUSIASM, RESPONSIBILITY, AND SELF-DISCIPLINE. CALVERT SEEKS TO DEVELOP STUDENTS OF HIGH ACADEMIC ACHIEVEMENT, INTELLECTUAL CURIOSITY, AND STRONG MORAL CHARACTER WITHIN A SUPPORTIVE AND DIVERSE COMMUNITY. 21 21 206 156 11392 0 3740379 5994837 23612694 13449745 8181174 3457490 17649 17131 35551896 22919203 1428808 1561533 0 0 11709010 9424497 138000 36000 773500 11819355 4672598 25095173 15694628 10456723 7224575 93589600 104387790 18111846 17180025 75477754 87207765 X CALVERT SCHOOL IS DEDICATED TO EDUCATING BOYS AND GIRLS THROUGH ITS TIME-TESTED METHOD OF TEACHING AND ITS RIGOROUS CURRICULUM. PARTICULAR EMPHASIS IS GIVEN TO MASTERING ESSENTIAL SKILLS, INSPIRING A LIFELONG LOVE OF LEARNING, AND INSTILLING ENTHUSIAM, RESPONSIBILITY, AND SELF-DISCIPLINE. CALVERT SEEKS TO DEVELOP STUDENTS OF HIGH ACADEMIC ACHIEVEMENT, INTELLECTUAL CURIOSITY, AND STRONG MORAL CHARACTER WITHIN A SUPPORTIVE AND DIVERSE COMMUNITY. 0 0 10144714 1545998 12871761 DAY SCHOOL - 606 STUDENTS ATTEND CALVERT SCHOOL IN BALTIMORE, MARYLAND. THERE ARE TEN GRADES FROM KINDERGARTEN THROUGH EIGHTH GRADE. 150431 15535 182079 AFTER SCHOOL CARE - 116 STUDENTS PARTICIPATE IN OUR AFTER SCHOOL CARE (ASC) PROGRAM. THE ASC PROGRAM RAN FROM 3:15 TO 6:00 P.M. EACH DAY THE SCHOOL WAS IN SESSION. 243911 317140 DAY CARE - 36 CHILDREN ATTENDED KIDDIE CALVERT DAY CARE (KCDC). THE KCDC PROGRAM IS ONLY OPEN TO CALVERT SCHOOL AND LOCAL INDEPENDENT SCHOOL EMPLOYEES, AND CURRENT FAMILIES OF CALVERT SCHOOL AS SPACE ALLOWS. CHILDREN MUST BE AT LEAST 12 WEEKS OLD AND UNDER 5 YEARS OLD TO ATTEND. 277844 78765 SUMMER CAMPS 277844 78765 10816900 1 1 0 0 0 0 1 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 17 0 1 206 1 1 1 1 CJ BD 0 0 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X JOSEPH P MCGRAW 4102436054 105 TUSCANY ROAD BALTIMORE MD 21210 CARVILLE B COLLINS CHAIRMAN 5.00 X X 0 0 0 JAMES B STRADTNER VICE CHAIRMAN 2.00 X X 0 0 0 WILLIAM S HARRISON TREASURER 2.00 X X 0 0 0 MARK A DEWIRE SECRETARY 2.00 X X 0 0 0 GINA Z ADAMS TRUSTEE 2.00 X 0 0 0 DAVID W ALLAN TRUSTEE 2.00 X 0 0 0 CURTIS H CAMPBELL TRUSTEE 2.00 X 0 0 0 H WARD CLASSEN TRUSTEE 2.00 X 0 0 0 FRED C CROZIER TRUSTEE 2.00 X 0 0 0 FELIX J DAWSON TRUSTEE 2.00 X 0 0 0 WESLEY N FINNERTY TRUSTEE 2.00 X 0 0 0 F WHITINGTON FOSTER TRUSTEE 2.00 X 0 0 0 ALEX GIBSON TRUSTEE 2.00 X 0 0 0 JOSEPH C HABERMAN TRUSTEE 2.00 X 0 0 0 F BARTON HARVEY III TRUSTEE 2.00 X 0 0 0 HEIDI KENNY-BERMAN TRUSTEE 2.00 X 0 0 0 DAVID S KNIPP TRUSTEE 2.00 X 0 0 0 KEVIN A MCCREADIE TRUSTEE 2.00 X 0 0 0 LEE H RILEY III TRUSTEE 2.00 X 0 0 0 AMY T SETO TRUSTEE 2.00 X 0 0 0 MATTHEW W WYSKIEL III TRUSTEE 2.00 X 0 0 0 ANDREW D MARTIRE HEAD MASTER (THRU 6/13) 40.00 X 271210 0 63080 JOSEPH P MCGRAW DIR. OF FINANCE & OPERATIONS 40.00 X 188631 0 49118 ANDREW HOLMGREN HEAD MASTER (BEG 7/13) 40.00 X 112766 0 33623 KERRY JOHNSTON DIR. OF DEVELOPMENT 40.00 X 134545 0 50958 DENISE D FIORUCCI DIR. OF HUMAN RESOURCES 40.00 X 126239 0 24255 EDWARD M TRUSTY HEAD OF LOWER SCHOOL 40.00 X 118028 0 22295 NICOLE H WEBSTER DIR. OF ADMISSIONS & ENROLLMENT SERVICES 40.00 X 117684 0 54695 PAUL E WAREHEIM ASST. HEAD OF LOWER SCHOOL 40.00 X 101259 0 23337 1170362 0 321361 8 0 1 0 MULLAN CONTRACTING COMPANY 2330 W JOPPA ROAD SUITE 210 LUTHERVILLE MD 21093 CONSTRUCTION 5176581 FIDELITY MECHANICAL SERVICES 25 LOVETON CIRCLE SPARKS MD 21152 HVAC SERVICE & MAINTENANCE 852633 CHARTWELLS PO BOX 417632 BOSTON MA 02241 FOOD SERVICE 678867 CREST LOCK COMPANY INC 10015 PULASKI HIGHWAY MIDDLE RIVER MD 21220 SECURITY 133306 CREATIVE PRINT GROUP INC 1560 CATON CENTER DRIVE HALETHORPE MD 21227 PRINTING 124798 9 100 5994737 255639 5994837 SCHOOL TUITION 511190 12786225 12786225 DAY CARE 611710 317140 317140 AFTER SCHOOL CARE 611710 182079 182079 SUMMER CAMPS 611710 78765 78765 SCHOOL CLUBS 611710 46334 46334 39202 39202 13449745 1392519 11392 1381127 17927321 15862350 2064971 2064971 2064971 80020 100 65134 14886 14886 20809 18564 2245 2245 22919203 13449745 11392 3463229 1561533 1561533 493747 313383 149748 30616 6701412 4253382 2032500 415530 299246 189945 90745 18556 1424480 904181 431966 88333 505612 320935 153324 31353 12870 5812 7058 68472 68472 36000 36000 147134 147134 56555 3203 53352 99997 65716 34281 1215263 1038206 138413 38644 210760 100111 100111 10538 948447 758758 189689 32625 31226 1399 153471 98798 38338 16335 165727 165727 1035898 828719 207179 167711 134169 33542 STUDENT SERVICES 196488 194488 2000 ENTERTAINMENT 67549 4238 18067 45244 MISCELLANEOUS 52239 36825 10984 4430 MEMBERSHIP DUES 41392 38988 764 1640 15694628 10816900 4104228 773500 1050 1456 5921816 4487218 2933414 4696287 239686 242636 67343 57167 263233 300311 46589900 10609980 30074762 35979920 28306738 28078436 18931016 27248141 6850542 3296218 93589600 104387790 1574737 831164 2292041 3069286 11510000 11139333 2735068 2140242 18111846 17180025 X 66854680 75956820 4017752 3850151 4605322 7400794 75477754 87207765 93589600 104387790 X 7224575 4091583 413853 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 1 1.00 1 1 0 5.00 124 50610161 4910856 7362727 3195968 59687776 40004455 8011150 4169873 1575317 50610161 40988083 22973 467891 1474492 40004455 36053637 1557440 7359660 3982654 40988083 33711943 197181 3871960 1727447 36053637 0.81530 0.12400 0.06070 0 0 12087718 12087718 32309489 9046044 23263445 2192693 1563936 628757 35979920 LIMITED PARTNERSHIPS 9451916 F PREFERRED STOCK IN A LIMITED LIABILITY COMPANY 4625000 F ALTERNATIVE INVESTMENTS 13171225 F 27248141 ACCRUED PENSION OBLIGATION 2140242 2140242 X 25385817 4091583 65134 4156717 21229100 147134 1542969 1690103 22919203 14069659 83698 83698 13985961 147134 1561533 1708667 15694628 PART II, LINE 9: ASSETS ARE RECORDED AT COST AND INCLUDED IN THE VALUE OF LAND ON THE SCHOOL'S BALANCE SHEET. PART V, LINE 4: TO SUPPORT SPECIFIC PURPOSES IDENTIFIED BY DONORS AND THE OVERALL OPERATION OF THE SCHOOL. PART X, LINE 2: WHEN TAX RETURNS ARE FILED, IT IS HIGHLY CERTAIN THAT SOME POSITIONS TAKEN WOULD BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, WHILE OTHERS ARE SUBJECT TO UNCERTAINTY ABOUT THE MERITS OF THE POSITION TAKEN OR THE AMOUNT OF THE POSITION THAT WOULD BE ULTIMATELY SUSTAINED. THE BENEFIT OF A TAX POSITION IS RECOGNIZED IN THE FINANCIAL STATEMENTS IN THE PERIOD DURING WHICH, BASED ON ALL AVAILABLE EVIDENCE, MANAGEMENT BELIEVES IT IS MORE-LIKELY-THAN-NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING THE RESOLUTION OF APPEALS OR LITIGATION PROCESSES, IF ANY. TAX POSITIONS TAKEN ARE NOT OFFSET OR AGGREGATED WITH OTHER POSITIONS. TAX POSITIONS THAT MEET THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD ARE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT WITH THE APPLICABLE TAXING AUTHORITY. AS OF JUNE 30, 2014 AND 2013, AND FOR THE YEARS THEN ENDED, THERE ARE NO MATERIAL UNRECOGNIZED/DERECOGNIZED TAX BENEFITS OR TAX PENALTIES OR INTEREST. THE SCHOOL IS NO LONGER SUBJECT TO U.S. FEDERAL AND STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES BEFORE 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED ON THE FINANCIAL STATEMENT 65,134. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSES NETTED WITH TUITION ON FINANCIAL STATEMENTS 1,561,533. COST OF GOODS SOLD -18,564. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED ON THE FINANCIAL STATEMENT 65,134. COST OF GOODS SOLD 18,564. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSES NETTED WITH TUITION ON FINANCIAL STATEMENTS 1,561,533. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 NONDISCRIMINATORY POLICY IS PUBLISHED IN SCHOOL BROCHURES, APPLICATIONS FOR ADMISSION AND IN THE LOCAL TRADE NEWSPAPERS AND PERIODICALS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 8084481 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 3002236 0 0 0 0 0 0 11086717 0 11086717 1 0 0 0 0 0 X X X X 1 CCS 461 FIFTH AVENUE 3RD FLOOR NEW YORK NY 10017 CAMPAIGN FEASIBILITY STUDY 0 1930349 36000 1894349 1930349 36000 1894349 MD GOLF TOURNAMENT 23170 23170 8258 20780 2198 CORKS FOR CALVERT 56950 100 56850 5000 28898 80120 100 80020 5000 8258 20780 31096 65134 14886 1 FINANCIAL AID 153 1561533 FMV PART I, LINE 2: ALL GRANTS REDUCE THE TUITION BILL OF STUDENTS. NO CASH IS GIVEN DIRECTLY TO STUDENTS. X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 ANDREW D MARTIRE HEAD MASTER (THRU 6/13) 150127 0 91233 0 29850 0 4375 0 58705 0 334290 0 0 0 JOSEPH P MCGRAW DIR. OF FINANCE & OPERATIONS 172171 0 5000 0 11460 0 8122 0 40996 0 237749 0 0 0 KERRY JOHNSTON DIR. OF DEVELOPMENT 118881 0 5000 0 10664 0 5725 0 45233 0 185503 0 0 0 DENISE D FIORUCCI DIR. OF HUMAN RESOURCES 120788 0 5000 0 451 0 5650 0 18605 0 150494 0 0 0 NICOLE H WEBSTER DIR. OF ADMISSIONS & ENROLLMENT SERV 97554 0 4000 0 16130 0 2862 0 51833 0 172379 0 0 0 PART I, LINE 1A SEVERAL OFFICERS AND HIGHLY COMPENSATED EMPLOYEES RECEIVE GROSS UP PAYMENTS WHICH ARE INCLUDED IN TAXABLE COMPENSATION. ANDREW MARTIRE RECEIVED SOCIAL CLUB DUES AND HOUSING. ANDREW HOLMGREN RECEIVED HOUSING. THESE ARE NONTAXABLE BENEFITS. A MARYLAND INDUSTRIAL DEVELOPMENT FINANCING AUTHORITY 526002033 NONEAVAIL 2011-06-01 12200000 TO REFUND 2001 BONDS AND TO FUND CAPITAL IMPROVEMENTS TO THE FACILITIES 0 0 0 A 1060667 12200000 3200000 9000000 1 0 0 1 A 0 0 0 0 0 0 1 A 0 0 0 0 1 0 0 0 0 A 1 ANNE C MCGRAW WIFE OF JOSEPH P. MCGRAW, DIRECTOR OF FINANCE & OPERATIONS 55780 CALVERT SCHOOL TEACHER 0 X 10 255639 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 THE SCHOOL'S FINANCIAL MANAGERS AND STAFF PROVIDE THE NECESSARY INFORMATION TO PREPARE THE TAX RETURN. A COMMITTEE OF FOUR (4) BOARD MEMBERS WITH FINANCIAL BACKGROUNDS AND KNOWLEDGE OF THE SCHOOL'S FINANCIAL REPORTING REVIEW A DRAFT OF THE COMPLETED RETURN PRIOR TO ITS FILING. THE ENTIRE BOARD OF TRUSTEES RECEIVES A FULL COPY OF THE RETURN BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS AND TOP MANAGEMENT OFFICIALS ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT ON AN ANNUAL BASIS. THE STATEMENT REQUIRES DISCLOSURE OF "ANY MATTER THAT THE BOARD MEMBER BELIEVES MAY INVOLVE A POSSIBLE CONFLICT OF INTEREST AND SHALL THEREAFTER SUPPLEMENT SUCH ANNUAL WRITTEN DISCLOSURE WITH INFORMATION PERTAINING TO CONFLICTS OF INTEREST ARISING AFTER THE ANNUAL DISCLOSURE HAS BEEN FILED." EVERY BOARD MEMBER SHALL DISCLOSE TO THE BOARD AND TO ANY BOARD COMMITTEE ON WHICH HE OR SHE MAY SERVE ANY CONFLICT OF INTEREST INVOLVING A MATTER BEFORE THE BOARD OR COMMITTEE, AS THE CASE MAY BE, AND SHALL REFRAIN FROM VOTING ON ANY SUCH MATTER. A TRUSTEE WHO HAS DISCLOSED A POSSIBLE CONFLICT OF INTEREST MAY BE COUNTED IN DETERMINING THE PRESENCE OF A QUORUM AT THE MEETING AND THE PERTINENT TRANSACTION MAY BE AUTHORIZED, APPROVED OR RATIFIED BY THE AFFIRMATIVE VOTE OF A MAJORITY OF DISINTERESTED TRUSTEES. ANY MINUTES OF THE MEETING SHALL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE AFFECTED TRUSTEE DID NOT VOTE ON THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL HAS A COMPENSATION COMMITTEE COMPRISED OF THREE BOARD MEMBERS AND A FORMER BOARD MEMBER. THE COMMITTEE MEETS ANNUALLY TO REVIEW THE COMPENSATION OF TOP MANAGEMENT OFFICIALS AND WRITTEN EMPLOYMENT CONTRACTS WHEN RENEWED OR REVISED. AN INDEPENDENT CONSULTANT IS HIRED TO PREPARE A MARKET STUDY REPORT OF COMPENSATION PACKAGES OF COMPARABLE SCHOOLS' MANAGEMENT. THE COMMITTEE REVIEWS THE PERFORMANCE OF MANAGEMENT AND THE INDEPENDENT CONSULTANT'S REPORT. THE COMPENSATION COMMITTEE APPROVES THE COMPENSATION PLANS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLSOURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: PENSION RELATED CHANGES 413,853.