2015-05-04T13:16:43-05:00 2014-06-30 202153727 SB & Company LLC 200 International Cir Suite 5500 Hunt Valley MD 21030 990 2013-07-01 521072250 Baltimore Educational Scholarship Trust BALT 4107522225 808 North Charles Street Baltimore MD 21201 Jessica Suriano Executive Director 4107522225 2015-05-04 1 William Seymour P00644232 4105840060 2015-04-29 2013 2016-02-25 16:41:14Z Jessica Suriano 808 North Charles Street Baltimore MD 21201 2524362 0 X www.besttrust.org X 1987 MD The Baltimore Educational Scholarship Trust, in partnership with our nineteen independent member schools, recruits and supports through the admissions process academically ambitious, African American students with financial need from the Baltimore area. Once students are enrolled, B.E.S.T. positions them for success through academic preparation, character and leadership development and support programs. 46 46 14 15 0 0 716939 713162 389267 376414 208585 281266 0 0 1314791 1370842 600768 583483 0 0 562684 545600 0 0 173124 229001 278753 1392453 1407836 -77662 -36994 9383544 10483861 311578 305596 9071966 10178265 X The Baltimore Educational Scholarship Trust, in partnership with our nineteen independent member schools, recruits and supports through the admissions process academically ambitious, African American students with financial need from the Baltimore area. Once students are enrolled, B.E.S.T. positions them for success through academic preparation, character and leadership development and support programs. 0 0 1082578 583483 376414 The three greatest accomplishments of the Baltimore Educational Scholarship Trust include our admissions support, our student / parent programs and our facilitation of private and public school partnerships. In admissions, we provide individualized admissions and financial aid counseling to applicants and their parents. Our student and parent programs include academic enrichment, leadership development, parent networking and college-bound support. In addition, B.E.S.T. builds partnerships and facilitates collaborations between private and public educational leaders throughout Baltimore. The totality of our programmatic work supports applicant students and parents, enrolled students and parents and the educational community in Baltimore. 1082578 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 7 0 14 1 0 0 0 0 0 0 0 0 0 0 X 46 46 1 0 0 0 0 0 0 1 1 1 0 1 1 1 1 1 1 1 1 0 MD X Jill Wood 4107522225 808 North Charles Street Baltimore MD 21201 X Eric S Adler Trustee 1.00 X 0 0 0 Teri Alexander Trustee 1.00 X 0 0 0 Jason S Bennett Trustee 1.00 X 0 0 0 Christopher A Berrier Trustee 4.00 X 0 0 0 Charles W Britton Trustee 1.00 X 0 0 0 Andrew M Brooks Trustee 1.00 X 0 0 0 Jean W Brune Trustee 1.00 X 0 0 0 Kimberly H Cashman Trustee 1.00 X 0 0 0 Tiffani S Collins Board Secretary 1.00 X X 0 0 0 W Boulton Dixon Board Vice President 4.00 X X 0 0 0 Brian C Doak Trustee 1.00 X 0 0 0 Penny B Evins Trustee 1.00 X 0 0 0 Redmond CS Finney Emeritus Trustee 0.00 X 0 0 0 Michael C Ford Trustee 1.00 X 0 0 0 Tracey H Ford Trustee 1.00 X 0 0 0 Domonique Foxworth Trustee 1.00 X 0 0 0 Tom Goss Trustee 1.00 X 0 0 0 Dr Parnell P Hagerman Trustee 1.00 X 0 0 0 F Barton Harvey III Emeritus Trustee 0.00 X 0 0 0 Molly M Hathaway Emeritus Trustee 0.00 X 0 0 0 Dr Cheryl Holcomb-McCoy Trustee 1.00 X 0 0 0 Andrew Holmgren Trustee 1.00 X 0 0 0 David Hunter Trustee 1.00 X 0 0 0 Cheo D Hurley Trustee 1.00 X 0 0 0 Diane Hutchins Trustee 1.00 X 0 0 0 Grant L Jacks III Emeritus Trustee 0.00 X 0 0 0 Alex W Kirby Trustee 1.00 X 0 0 0 Charles E Knudsen III Trustee 1.00 X 0 0 0 Douglas Lagarde Trustee 1.00 X 0 0 0 Crystal A Lee Trustee 1.00 X 0 0 0 Matthew W Micciche Trustee 1.00 X 0 0 0 G Peter O'Neill Jr Trustee 1.00 X 0 0 0 Lee S Owen Trustee 1.00 X 0 0 0 Daniel Paradis Trustee 2.00 X 0 0 0 Thomas P Perkins III Emeritus Trustee 0.00 X 0 0 0 Christopher J Post Trustee 2.00 X 0 0 0 Michael A Ray Trustee 1.00 X 0 0 0 Thomas J Reid Trustee 1.00 X 0 0 0 Vernon A Reid Jr Trustee 1.00 X 0 0 0 Theo C Rodgers Emeritus Trustee 1.00 X 0 0 0 Ben Shifrin Trustee 1.00 X 0 0 0 Stuart O Simms Board President 4.00 X X 0 0 0 Henry PA Smyth Trustee 1.00 X 0 0 0 Lawrence R Snyder Board Treasurer 4.00 X X 0 0 0 Anne Staley Trustee 1.00 X 0 0 0 Randy S Stevens Trustee 1.00 X 0 0 0 Martha H Sweeney Trustee 1.00 X 0 0 0 John H Timken Trustee 1.00 X 0 0 0 Maureen E Walsh Trustee 1.00 X 0 0 0 Michael J Weinfeld Trustee 2.00 X 0 0 0 Marcella Yedid Trustee 1.00 X 0 0 0 Amy John Executive Director 32.00 X 87904 0 5910 Jessica Suriano Dir. of Development/Executive Dir. 40.00 X 97750 0 6379 Toni N Stokes Director of Admissions 40.00 X 68390 0 9762 Jill E Wood Manager of Finance & Ops 40.00 X 66389 0 9642 320433 0 31693 0 0 0 0 0 713162 5900 713162 School membership fees 900099 368464 368464 Application fees and other 900099 7950 7950 376414 266757 266757 1168029 1153520 14509 14509 14509 1370842 376414 0 281266 583483 583483 343724 191259 67075 85390 128002 71226 24978 31798 7170 3991 1398 1781 32051 17837 6253 7961 34653 19284 6761 8608 1054 706 190 158 14171 9494 2551 2126 10717 7180 1929 1608 33865 18357 5815 9693 37944 25422 6830 5692 53885 37719 10777 5389 3537 2122 1061 354 11693 11693 7653 4592 2296 765 Student Prgms/Svcs Expe 53909 53909 Miscellaneous 27703 23497 2527 1679 Loss on disposal of fix 12500 12500 Cultivation and steward 10122 10122 1407836 1082578 152134 173124 76256 138733 83030 35222 15538 9309 119982 90702 39250 29280 9169470 10271317 9383544 10483861 2686 6425 308892 299171 311578 305596 X 77610 135400 3529809 4578318 5464547 5464547 9071966 10178265 9383544 10483861 -36994 1143293 0 X X 0 1 X 1 0 X 521026 800607 689580 716939 713162 3441314 521026 800607 689580 716939 713162 3441314 384064 3057250 140504 132367 128481 208585 266757 876694 4318008 1933681 0.70800 0.80620 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8671007 1424701 406184 9689524 8153932 907024 389949 8671007 8929574 123853 899495 8153932 7766840 1562237 399503 8929574 7488957 784730 369030 137817 7766840 0.56400 0.43600 0 0 119982 90702 29280 29280 Money market funds 776676 F Domestic US Stocks/Funds 4759319 F International Stocks/Funds 1841054 F Fixed Income 2894268 F 10271317 Distributions payable to schools 294772 Capital Lease 4399 299171 2514135 1143293 1143293 1370842 0 1370842 1407836 0 1407836 0 1407836 1 The Boys' Latin School of Maryland 822 W Lake Avenue Baltimore MD 21210 520735085 501(c)(3) 33649 Annual Fund gift, SHDF gift, one Emergency Fund grant, and two Gap Funding grants. Calvert School Inc 105 Tuscany Road Baltimore MD 21210 520591510 501(c)(3) 21458 Annual Fund gift and SHDF gift. Friends School of Baltimore Inc 5114 North Charles Street Baltimore MD 21210 520591602 501(c)(3) 31142 Annual Fund gift, SHDF gift, one Emergency Fund grant and one WBAL grant. Garrison Forest School Inc 300 Garrison Forest Road Owings Mills MD 21117 520591516 501(c)(3) 26004 Annual Fund gift, SHDF gift, and one Emergency Fund grant. Gilman School Inc 5407 Roland Avenue Baltimore MD 21210 520591604 501(c)(3) 47767 Annual Fund gift, SHDF gift, Tuition for the School's Chick Lord Endowed Scholar, and two Emergency Fund grants. The Jemicy School Inc 11 Celadon Road Owings Mills MD 21117 520976194 501(c)(3) 15570 Annual Fund gift and SHDF gift. Key School Inc 543 Hillsmere Drive Annapolis MD 21403 520701774 501(c)(3) 36141 Annual Fund gift, SHDF gift, and Tuition for School's Endowed Scholar. Maryvale Preparatory School 11300 Falls Road Brooklandville MD 21022 521160935 501(c)(3) 22050 Annual Fund gift, SHDF gift, and two Emergency Fund grants. McDonogh School PO Box 380 Owings Mills MD 211170380 526001577 501(c)(3) 50738 Annual Fund gift, SHDF gift, Tuition for the School's Endowed Scholar, one Emergency Fund grant, and one Stanly I. Panitz Award. Oldfields School Inc 1500 Glencoe Road Glencoe MD 21152 520591645 501(c)(3) 13589 Annual Fund gift and SHDF gift. Roland Park Country School Inc 5204 Roland Avenue Baltimore MD 21210 520591631 501(c)(3) 56953 Annual Fund gift, SHDF gift, Tuition for the School's Endowed Scholar, one Emergency grant, and one WBAL grant. Severn School Inc 201 Water Street Severna Park MD 211464599 520591466 501(c)(3) 44291 Annual Fund gift,SHDF gift, and Tuition for the School's Endowed Scholar. St Paul's School 11152 Falls Road Brooklandville MD 21022 520591463 501(c)(3) 46981 Annual Fund gift, SHDF gift, and Tuition for the School's Endowed Scholar. St Paul's School for Girls Inc 11232 Falls Road Brooklandville MD 21022 520709497 501(c)(3) 41527 Annual Fund gift, SHDF gift, four Emergency Fund grants, and one donor designated Emergency Fund grant. Corporation of St Timothy's School 8400 Greenspring Ave Stevenson MD 21153 520591488 501(c)(3) 14842 Annual Fund gift, SHDF gift, and one Stanly I. Panitz Award. The Byrn Mawr School for Girls of Baltimore City 109 W Melrose Ave Baltimore MD 21210 520258140 501(c)(3) 29592 Annual Fund gift, SHDF gift, and one Emergency Fund grant. The Park School of Baltimore PO Box 8200 Brooklandville MD 21022 520591625 501(c)(3) 47106 Annual Fund gift, SHDF gift, Tuition for the School's Endowed Scholar, and two Emergency Fund grants. The Waldorf School of Baltimore Inc 4801 Tamarind Road Baltimore MD 21209 237305478 501(c)(3) 14192 Annual Fund gift and SHDF gift. 18 Part I, Line 2: When B.E.S.T. provides grants for Endowed Scholars, Gap Funding, Emergency Funding, Annual Fund gifts and the School Head Discretionary Fund, they send a check and a letter to each of the schools. The letters state the intended use of the money being sent to the schools. Annual Fund gifts are given to the schools. The schools use these funds toward their financial aid for students. The Annual Fund gift letters state the amount of the grant awarded to each school and that it is directed toward the school's financial aid budget. Endowed Scholars gifts are given to the member schools. B.E.S.T. pays 75% of the current tuition for the Endowed Scholar. There were 9 Endowed Scholars for fiscal year 2014. The Endowed Scholar at Gilman School, Inc., is called the Chick Lord Scholar. B.E.S.T. would have received the name of the Endowed Scholar from the school previously, so the student's name is included in the grant letter. Emergency Funds are given to member schools. These funds are for B.E.S.T. students currently enrolled who run into financial difficulties. The requests come from the students' school. This is a one-time request. Emergency Fund grant letters state the amount and the student's name. The fund provides tuition support and allows students to remain enrolled at their school. Gap Funds are a one-time grant to member schools. These grants help a new B.E.S.T. applicant get enrolled. B.E.S.T. pays a part of the tuition to help the new applicant get enrolled and the school makes a commitment to cover the difference moving forward. Gap Funding grant letters state the amount and the student's name. The purpose of the School Head's Discretionary Fund (SHDF) at the Baltimore Educational Scholarship Trust is to provide school Heads auxiliary funding to support B.E.S.T. students on their campuses. The support can include necessary services as well as experiential learning opportunities at the discretion of the School Head. The funds may not be used to supplement tuition. Each year the school must submit a detailed report to B.E.S.T. on how the funds were used. The Stanley I. Panitz Leadership Award is presented annually to 2 students selected from the entire pool of B.E.S.T. juniors attending our member schools. Students are nominated to receive the Stanley I. Panitz Leadership Award by their Head of School during the second semester of their junior year. The recipients of the award will be one B.E.S.T. young woman and one B.E.S.T. young man, in recognition of their academic achievement and demonstrated leadership in both their school and the broader Baltimore community. The award is a $1,000 directed gift from the Stanley I. Panitz Leadership Fund of B.E.S.T. to each recipent's independent school to be applied to the family contribution of their student's senior year tuition. Copies of the checks and the grant letters sent to the schools are maintained in files in B.E.S.T.'s finance department. Form 990, Part VI, Section A, line 2 Charles Knudsen, a trustee, is the husband of Ellen Knudsen, a part time staff member at B.E.S.T. Form 990, Part VI, Section B, line 11 A copy of the Form 990 is distributed to the finance and audit committee where they review the document. Once the draft is reviewed, edited and approved, the Form 990 is considered complete and the Executive Director signs the final version. Form 990, Part VI, Section B, line 12c All trustees and key employees are required each year to sign the conflict of interest policy. The signed trustee forms are stored at B.E.S.T. in the Trustee's individual files in the executive office. The signed conflict of interest forms for the key employees are stored in the personnel files of the individuals. If a conflict exists, the Executive Director would review with the Board President. Form 990, Part VI, Section B, line 15 Research of salaries for similar positions and similar organizations is reviewed and compared. The Board President and Executive Committee reviewed the salary of the Executive Director. The Executive Director reviewed the salary for the Admissions Director, the Assistant Director of Admissions, the Manager of Finance and Operations, the Director of Development, the Development Associate and the Admissions Associate. The review process for fiscal year 2013 occurred during the first quarter of 2012. Form 990, Part VI, Section C, line 19 The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part VII Eric S. Adler - 1776 Massachusetts Ave NW, Suite 600, Washington, DC 20036. Teri Alexander - 216 Ridgewood Road, Baltimore, MD 21210. Jason S. Bennett - Legg Mason - 100 International Drive, Baltimore, MD 21202. Christopher A. Berrier - 240 Hopkins Lane, Owings Mills, MD 21117. Charles W. Britton - 8600 McDonogh Road, Owings Mills, MD 21117. Andrew M. Brooks - 919 Bellemore Road, Baltimore, MD 21210. Jean W. Brune - 5204 Roland Avenue, Baltimore, MD 21210. Kimberly H. Cashman - 1406 Walnut Hill Lane, Towson, MD 21204. Tiffani S. Collins - 5876 Pimlico Road, Baltimore, MD 21209. W. Boulton Dixon - 509 Whithorn Court, Lutherville, MD 21093. Brian C. Doak - The Murray Group - 307 International Circle, 4th Floor, Hunt Valley, MD 21031. Penny B. Evins - 11232 Falls Road, Brooklandville, MD 21022. Redmond C.S. Finney - Landslide Farm - 15601 Dover Road, Upperco, MD 21155. Michael C. Ford - 20 Buchanan Road, Baltimore, MD 21212. Tracey H. Ford - 11300 Falls Road, Brooklandville, MD 21022. Domonique Foxworth - 3513 Anton Farms Road, Pikeville, MD 21208. Tom Goss - 4801 Tamarind Road, Baltimore, MD 21209. Dr. Parnell P. Hagerman - 500 Glencoe Road/P.O. Box 697, Glencoe, MD 21152. F. Barton Harvey, III - 10227 Wincopin Circle, Columbia, MD 21044. Molly M. Hathaway - 6525 Montrose Avenue, Baltimore, MD 21212. Dr. Cheryl Holcomb-McCoy - JHU, School of Education, 2800 N. Charles St., Baltimore, MD 21218. Andrew Holmgren - 105 Tuscany Road, Baltimore, MD 21210. David Hunter - 901 S. Bond Street, Suite 400, Baltimore, MD 21231. Cheo D. Hurley - 3707 Edgewood Road, Baltimore, MD 21215. Diane Hutchins - 211 E. Lombard Street #178, Baltimore, MD 21202. Grant L. Jacks, III - 529 Overbrook Road, Baltimore, MD 21212. Alex W. Kirby - M&T Bank - 25 S. Charles Street/19th Floor, Baltimore, MD 21231. Charles E. Knudsen, III - T. Rowe Price Associates, Inc. - 100 E. Pratt St, Baltimore, MD 21202. Douglas Lagarde - 201 Water Street, Severna Park, MD 21146. Crystal A. Lee - Garrison Forest School - 300 Garrison Forest Road, Owings Mills, MD 21117. Matthew W. Micciche - 5114 N. Charles Street, Baltimore, MD 21210. G. Peter O'Neill, Jr. - 300 Garrison Forest Road, Owings Mills, MD 21117. Lee S. Owen - P.O. Box 191, Gibson Island, MD 21056. Daniel Paradis - P.O. Box 8200, Brooklandville, MD 21022. Thomas P. Perkins, III - Roland Park Place - 840 East 40th Street, Baltimore, MD 21211. Christopher J. Post - 822 West Lake Avenue, Baltimore, MD 21210. Michael A. Ray - 1 Aston Court, Owings Mills, MD 21117. Thomas J. Reid - 11152 Falls Road/P.O. Box 8100, Brooklandville, MD 21022. Vernon A. Reid, Jr. - 100 E. Pratt Street, 7th Floor, Baltimore, MD 21202. Theo C. Rodgers - A & R Development Corp. - 1040 Park Avenue, Suite 300, Baltimore, MD 21201. Ben Shifrin - 11202 Garrison Forest Road, Owings Mills, MD 21117. Stuart O. Simms - 120 E. Baltimore Street, Suite 1700, Baltimore, MD 21202. Henry P.A. Smyth - 5407 Roland Avenue, Baltimore, MD 21210. Lawrence R. Snyder - 3119 Royston Avenue, Baltimore, MD 21214. Anne Staley - 22 Buchanan Road, Baltimore, MD 21212. Randy S. Stevens - 8400 Greenspring Avenue, Stevenson, MD 21153. Martha H. Sweeney - 3257 Bridle Ridge Lane, Stevenson, MD 21153. John H. Timken - 13827 Lakeside Drive, Clarksville, MD 20129. Maureen E. Walsh - 109 West Melrose Avenue, Baltimore, MD 21210. Michael J. Weinfeld - P.O. Box 251, Clarksville, MD 21022. Marcella Yedid - 534 Hillsmere Drive, Annapolis, MD 21403. Form 990, Part VII: Board member Crystal Lee resigned from the board on March 19, 2014. Crystal accepted the position of Director of Advancement for B.E.S.T. for effective start date of July 1, 2014. Amy John ended her role as Executive Director on May 31, 2014. Jessica Suriano went from Director of Development to Executive Director on June 1, 2014. Form 990, Part XII, Line 2c: The process has not changed from prior year.