2014-05-12T10:21:28-05:00 2013-06-30 420714325 MCGLADREY LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2012-07-01 520635092 LANDON SCHOOL CORPORATION LAND 3013203200 6101 WILSON LANE BETHESDA MD 20817 DAVID M ARMSTRONG 3013203200 2014-05-12 1 WILLIAM E TURCO CPA P00369217 3012963600 2012 2015-11-30 17:44:51Z DAVID M ARMSTRONG 6101 WILSON LANE BETHESDA MD 20817 31149319 0 X WWW.LANDON.NET X 1936 MD MAINTAINING EDUCATIONAL PROGRAMS FOR STUDENTS AT THE ELEMENTARY AND HIGH SCHOOL LEVELS. 25 24 346 24 0 0 3730280 4329193 23666130 23815872 501582 846615 262885 259289 28160877 29250969 3022972 2825789 0 0 17750789 17098646 0 0 1102860 8750932 8286439 29524693 28210874 -1363816 1040095 39149018 40444225 26420388 25389212 12728630 15055013 LANDON SCHOOL PREPARES TALENTED BOYS FOR PRODUCTIVE LIVES AS ACCOMPLISHED, RESPONSIBLE AND CARING MEN WHOSE ACTIONS ARE GUIDED BY THE PRINCIPLES OF PERSEVERANCE, TEAMWORK, HONOR AND FAIR PLAY. 0 0 22574917 2825789 23815872 MAINTAINING EDUCATIONAL PROGRAMS FOR STUDENTS AT THE ELEMENTARY AND HIGH SCHOOL LEVELS. 22574917 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 1 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 72 0 1 346 1 1 1 0 0 0 0 0 0 0 0 0 X 25 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JEREMY KUGEL 3013203200 6101 WILSON LANE BETHESDA MD 20817 H SHERMAN JOYCE 1.50 X X 0 0 0 JOSEPH KENARY JR 1.50 X X 0 0 0 STEVEN BERNARD GEWITZ 1.50 X X 0 0 0 WILLIAM CARTER HERTZBERG 1.50 X X 0 0 0 MICHEL BANKS 1.50 X 0 0 0 MARIO BOIARDI 1.50 X 0 0 0 STEPHEN COMISKEY 1.50 X 0 0 0 FRANCIS O DAY IV 1.50 X 0 0 0 PETER FITZGERALD 1.50 X 0 0 0 MICHELLE FREEMAN 1.50 X 0 0 0 JEFFREY HARRIS 1.50 X 0 0 0 WALLACE F HOLLADAY JR 1.50 X 0 0 0 ERNEST D JARVIS 1.50 X 0 0 0 DOUGLAS KIKER 1.50 X 0 0 0 BRIGHAM KIPLINGER 1.50 X 0 0 0 STEPHAN KLINGELHOFER 1.50 X 0 0 0 DANIEL KORENGOLD 1.50 X 0 0 0 JOHN PENDLETON LEACHMAN JR 1.50 X 0 0 0 CHRISTOPHER MANNING 1.50 X 0 0 0 EVAN BRETT MCMAHON 1.50 X 0 0 0 AMY MEHLMAN 1.50 X 0 0 0 TUSHAR PATEL 1.50 X 0 0 0 HOUSTON KEITH POWELL 1.50 X 0 0 0 LAURA ZAIMI 1.50 X 0 0 0 DAVID M ARMSTRONG 60.00 X X 1592574 0 95170 JEREMY KUGEL 60.00 X 131109 0 28523 MARCOS WILLIAMS 60.00 X 135727 0 67144 LEONARD ARMSTRONG 60.00 X 120002 0 67089 EHREN FEDEROWICZ 60.00 X 117049 0 67654 HANS FARNSTROM 60.00 X 149622 0 26388 ALAN ROSENTHAL 60.00 X 122641 0 13016 JAMES KIRKPATRICK 60.00 X 120226 0 16456 SHARON KARLIN 60.00 X 119310 0 10926 JOHN BOTTI 60.00 X 116411 0 48131 2724671 0 440497 23 0 1 0 SODEXO INC PO BOX 536922 ATLANTA GA 30353 FOOD SERVICE 858515 WEAVER BROTHERS P O BOX 79579 BALTIMORE MD 212790579 INSURANCE BROKER 235968 RED COATS INC 4401 EAST-WEST HIGHWAY BETHESDA MD 20814 CUSTODIAL SERVICE 198497 MINKOFF COMPANY 11716 BALTIMORE AVE BELTSVILLE MD 20705 PROPERTY RESTORATION 119269 4 111880 4217313 412159 4329193 TUITION & FEES 900099 21706511 21706511 AUXILIARY SERVICES 900099 2109361 2109361 23815872 231853 231853 1323831 829907 1319558 219418 4273 610489 614762 614762 540959 111880 359374 181585 181585 OTHER INCOME 900099 77704 77704 77704 29250969 23815872 0 1105904 2825789 2825789 2264762 1857720 299867 107175 11108127 9180208 1394880 533039 741843 538124 176184 27535 2011887 1459399 477812 74676 972027 705097 230851 36079 89494 89494 83265 83265 69613 69613 17286 389 16897 337449 164108 143448 29893 76687 76687 1500317 1539034 -38816 99 163090 102926 34116 26048 236418 227061 9357 547906 449282 65750 32874 1905653 1562635 228679 114339 285814 234367 34298 17149 BAD DEBTS 691362 691362 FOOD SERVICES 605771 605771 ATHLETICS 321084 321084 ACADEMIC SUPPORT 303054 303054 1052176 649632 324844 77700 28210874 22574917 4533097 1102860 500 500 2212707 4437786 2060868 2489148 1259477 751182 538321 456794 114463 87284 20134 53279 59566341 36272425 24966975 23293916 7691496 8593425 201744 201744 82333 79167 39149018 40444225 2255878 1821595 8238205 9407223 9519307 8924350 266899 2512665 6140099 2723379 26420388 25389212 X -2862595 -3365968 5146694 6757770 10444531 11663211 12728630 15055013 39149018 40444225 X 1040095 950565 335723 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14510915 1218680 1027253 378788 16378060 14908950 266793 -236047 427781 14511915 14198660 93155 1077052 459917 14908950 14158372 33098 68058 60868 14198660 13929486 337447 -68246 40315 14158372 0.21560 0.71210 0.07230 0 0 509249 509249 1817197 44574562 24532430 21859329 1733874 1697081 36793 10931459 10042914 888545 23293916 CAPITAL LEASE OBLIGATIONS 280936 INTEREST RATE SWAP AGREEMENT 969136 FUNDS HELD FOR OTHERS 267622 DEFERRED COMPENSATION 1205685 2723379 X 27660446 950565 -2825789 -1875224 29535670 69613 -354314 -284701 29250969 25669786 354314 354314 25315472 69613 2825789 2895402 28210874 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE DRAW FROM THE ENDOWMENT IS USED FOR SCHOLARSHIPS, ETHICS FORUMS AND PROGRAMS (COMMUNITY SERVICE, ACADEMICS, ATHLETICS). DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE SCHOOL IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, THE SCHOOL IS SUBJECT TO INCOME TAXES ON UNRELATED BUSINESS INCOME, AS DEFINED BY THE INTERNAL REVENUE SERVICE. DURING THE YEAR ENDED JUNE 30, 2013, THE SCHOOL HAD NO TAXABLE UNRELATED BUSINESS INCOME AND, ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REQUIRED IN THE ACCOMPANYING FINANCIAL STATEMENTS. MANAGEMENT EVALUATED THE SCHOOL'S TAX POSITIONS AND CONCLUDED THAT THE SCHOOL HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. THE SCHOOL FILES INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. GENERALLY, THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR THE YEARS BEFORE 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE NETTED AGAINST TUITION IN THE FINANCIAL STATEMENT -2,825,789. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES RECORDED ON LINE 8B -322,585. RAFFLE EXPENSES RECORDED ON LINE 9B -31,729. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES RECORDED ON LINE 8B 322,585. RAFFLE EXPENSES RECORDED ON LINE 9B 31,729. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE NETTED AGAINST TUITION IN THE FINANCIAL STATEMENT 2,825,789. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 AN ANNOUNCEMENT IS PLACED IN THE WASHINGTON POST NEWSPAPER PUBLICIZING THE SCHOOLS NONDISCRIMINATION POLICY. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES OVERSEAS TRIPS 226559 0 0 0 0 0 0 226559 0 226559 0 0 0 0 0 0 AZALEA FESTIVAL 503983 112880 391103 226820 GREENS SALE 148856 148856 132554 652839 112880 539959 359374 359374 180585 1 TUITION FINANCIAL AID 152 2825789 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE SCHOOL PROVIDES FINANCIAL ASSISTANCE BASED ON BOTH FINANCIAL NEED AND ACADEMIC MERIT. THE SCHOOL HAS AN INDEPENDENT PROCEDURE TO DETERMINE QUALIFICATION FOR FINANCIAL ASSISTANCE. THE SCHOOL HAS STRICT RULES TO PREVENT RELATED PARTIES SUCH AS DISQUALIFIED PERSONS FROM BENEFITING FROM FINANCIAL ASSISTANCE. X X 1 1 X X X 0 1 0 0 0 0 0 0 0 DAVID M ARMSTRONG 366643 0 0 0 1225931 0 17150 0 90177 0 1699901 0 0 0 JEREMY KUGEL 130779 0 0 0 330 0 9178 0 19981 0 160268 0 0 0 MARCOS WILLIAMS 131399 0 0 0 4328 0 9420 0 60144 0 205291 0 0 0 LEONARD ARMSTRONG 119699 0 0 0 303 0 8484 0 60881 0 189367 0 0 0 EHREN FEDEROWICZ 116753 0 0 0 296 0 8309 0 62048 0 187406 0 0 0 HANS FARNSTROM 147426 0 0 0 2196 0 10491 0 18066 0 178179 0 0 0 JOHN BOTTI 116152 0 0 0 259 0 8131 0 40760 0 165302 0 0 0 PART I, LINE 1A A NON-TAXABLE HOUSING BENEFIT WAS PROVIDED TO INDIVIDUALS AS A CONDITION OF EMPLOYMENT. THE FOLLOWING INDIVIDUALS RECEIVED THE HOUSING BENEFIT: DAVID ARMSTRONG - $40,000 MARCOS WILLIAMS - $40,000 EHREN FEDEROWICZ - $40,000 JOHN BOTTI - $40,000 LEN ARMSTRONG - $40,000 DAVID ARMSTRONG RECEIVED NON-TAXABLE HEALTH CLUB DUES IN THE AMOUNT OF $6,800. PART I, LINE 4B DURING THE CALENDAR YEAR ENDING 12/31/2012 DAVID ARMSTRONG, HEADMASTER, BECAME FULLY VESTED IN A NON-QUALIFIED DEFERRED COMPENSATION PLAN IN THE AMOUNT OF $1,220,597. THIS AMOUNT HAS BEEN REPORTED AS TAXABLE INCOME IN SCHEDULE J, PAGE 2, PAGE II, COLUMN (III). THE SCHOOL HAS AN EMPLOYMENT CONTRACT WITH THE HEADMASTER. IN ACCORDANCE WITH THE TERMS OF THE EMPLOYMENT CONTRACT THE SCHOOL HAS ESTABLISHED A NON-QUALIFIED RETIREMENT PLAN AND PROVIDES ANNUAL FUNDING TO THE PLAN WHICH IS INCLUDED AS A NON-TAXABLE, DEFERRED COMPENSATION BENEFIT IN ACCORDANCE WITH IRS GUIDELINES A MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY 520936091 2011-06-02 10114264 TO REFUND THE 1999 BONDS & REFINANCE THE ENTIRE OUTSTANDING LOAN BALANCE 0 0 0 A 1189914 10114264 107717 10006547 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 8.000000000000 0 0 0 0 1 A 1 X 11 351778 MARKET VALUE X AUCTION ITEMS 55 50480 FMV X EQUIPMENT 6 1176 FMV X GIFT CARDS 5 1518 FMV X FOOD FOR EVENT 2 485 FMV X GIFT BAG 2 1475 FMV X FIXED ASSETS 5 5247 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED BY THE OUTSIDE ACCOUNTING FIRM ENGAGED BY THE SCHOOL. THE RETURN IS REVIEWED BY THE PRESIDENT, CFO, AND CONTROLLER BEFORE BEING MADE AVAILABLE TO THE TRUSTEES VIA A SECURE WEBSITE. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS POSTED TO THE BOARD'S CONFIDENTIAL WEBSITE PORTAL. TRUSTEES ARE ASKED TO READ THE POLICY AT THE BEGINNING OF EACH YEAR AND ADVISE THE SECRETARY OF ANY ISSUES THAT MIGHT BE OF CONCERN FORM 990, PART VI, SECTION B, LINE 15 THE SALARIES OF THE OFFICERS, KEY EMPLOYEES ARE DECIDED BY THE USE OF COMPARABLE SALARY DATA AS PROVIDED BY INDEPENDENT EDUCATOR (IE) AND THE ASSOCIATION OF MARYLAND INDEPENDENT SCHOOLS. THE AMOUNT OF THE FINAL COMPENSATION NUMBER IS THEN APPROVED BY THE COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: UNREALIZED GAIN (LOSS) ON INTEREST RATE SWAP 335,723.