2013-01-17T12:58:55-06:00 2012-06-30 420714325 MCGLADREY LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2011-07-01 520701774 KEY SCHOOL INC KEYS 4102639231 543 HILLSMERE DRIVE ANNAPOLIS MD 21403 KENNETH A PIEL 4102639231 2013-01-17 1 WILLIAM E TURCO CPA P00369217 3012963600 2011 2016-02-25 16:41:14Z MARCELLA YEDID 543 HILLSMERE DRIVE ANNAPOLIS MD 21403 17680481 0 X WWW.KEYSCHOOL.ORG X 1959 MD INDEPENDENT, NON-SECTARIAN, NON-PROFIT, PK - GRADE 12 SCHOOL 26 25 209 200 0 0 788988 836939 15543452 16517137 112751 119414 193002 144139 16638193 17617629 1602585 1678565 0 0 10515600 10811892 0 0 514955 3853234 4064566 15971419 16555023 666774 1062606 28135621 28938331 13025376 13420601 15110245 15517730 X THE KEY SCHOOL IS FOUNDED UPON THE CONVICTION THAT CHILDREN ARE INNATELY CURIOUS ABOUT THEMSELVES AND THE WORLD; THEY WANT TO LEARN, THEY WANT TO DISCOVER, AND THEY WANT TO CREATE. THE SCHOOL'S ROLE IS TO NOURISH AND GUIDE THIS NATURAL EXUBERANCE, ENERGY AND DELIGHT IN THE SEARCH FOR MEANING, SO THAT EACH STUDENT MAY DEVELOP INTO AN INFORMED, THOUGHTFUL AND CONSTRUCTIVE MEMBER OF SOCIETY, WITH A LIFELONG COMMITMENT TO LEARNING. 0 0 12735773 1678565 16517137 PROVIDES EDUCATION FOR STUDENTS FROM PRESCHOOL THROUGH GRADE 12 - APPROXIMATELY 700 STUDENTS. 12735773 1 1 0 1 0 0 1 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 1 0 0 0 0 0 1 56 0 1 209 1 0 0 0 0 0 0 0 0 0 0 X 26 25 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MD X KEN PIEL 4102639231 543 HILLSMERE DRIVE ANNAPOLIS MD 21403 WESLEY R JONES WES 1.00 X X 0 0 0 PAM WILLIAMS 1.00 X X 0 0 0 PETER BICHE 1.00 X X 0 0 0 STEPHEN WRAGE 1.00 X X 0 0 0 RANDI ALTSCHULER 1.00 X 0 0 0 CHARLES ANTHONY CHUCK 1.00 X 0 0 0 MISSY ATTRIDGE 1.00 X 0 0 0 MARK BAGANZ 1.00 X 0 0 0 GEORGIE BERKINSHAW 1.00 X 0 0 0 ELIZABETH BUCKMAN 1.00 X 0 0 0 MARIE BROCKHURST 1.00 X 0 0 0 ROSALIND CALVIN ROS 1.00 X 0 0 0 MIKE COOK 1.00 X 0 0 0 JUSTIN CUNIFF 1.00 X 0 0 0 KATHERINE EDWARDS KATIE 1.00 X 0 0 0 LEANDER J FOLEY III LJ 1.00 X 0 0 0 KRISTIN FUSCO 1.00 X 0 0 0 NIELS HOLCH 1.00 X 0 0 0 JOSEPH A JANNEY III JOE 1.00 X 0 0 0 STEVEN KAHLE STEVE 1.00 X 0 0 0 LORI MATHIS 1.00 X 0 0 0 TROY MAYER 1.00 X 0 0 0 CHRISTINE PETERSON CHRIS 1.00 X 0 0 0 GERALD SPARER JERRY 1.00 X 0 0 0 WENDELL WEBSTER 1.00 X 0 0 0 MARCELLA M YEDID 60.00 X X 324426 0 34564 KENNETH PIEL 55.00 X 172962 0 14181 JESSIE DUNLEAVY 55.00 X 121638 0 11599 DAVID MAGNUS 55.00 X 114027 0 11404 TODD CASEY 55.00 X 111855 0 11759 EMILY LEGUM 55.00 X 100272 0 10748 945180 0 94255 6 0 1 0 CJ MAINTENANCE 9254 BENDIX ROAD COLUMBIA MD 21045 JANITORIAL SERVICES 161562 1 836939 63053 836939 TUITION & FEES 900099 16150836 16150836 SUMMER CAMP 900099 366301 366301 16517137 119414 119414 31945 9174 22771 22771 22771 92177 39275 52902 52902 21097 14403 6694 6694 OTHER REVENUE 900099 61772 61772 61772 17617629 16517137 0 263553 1678565 1678565 546133 387536 136199 22398 7495110 5318533 1869181 307396 315914 224172 78789 12953 1856986 1317716 463133 76137 597749 424162 149079 24508 7027 6846 132 49 33850 33850 25791 6822 18920 49 14951 14951 268703 226776 40299 1628 131759 131165 433 161 761907 761907 459730 459730 602629 587081 11329 4219 60537 58975 1139 423 INSTRUCTIONAL EXPENSES 747955 747955 ADMINISTRATIVE EXPENSES 292814 228285 64529 SUMMER PROGRAMS 221377 221377 BAD BEBT 218903 218903 216633 176455 39673 505 16555023 12735773 3304295 514955 500 500 6368666 6755103 186887 153314 148320 101254 9525 11220 162954 294854 20629245 5348556 15460744 15280689 2927544 3249924 2717205 2951827 153276 139646 28135621 28938331 1118120 1158816 1701859 1849395 9095000 8870000 222537 211677 887860 1330713 13025376 13420601 X 10247947 10678428 553477 421039 4308821 4418263 15110245 15517730 28135621 28938331 X 1062606 -655121 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 1 4248 0 0 1 4248 0 0 8496 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: THE KEY SCHOOL HIRED A LAW FIRM WHICH LOBBIED COUNTY COUNIL ON A PIECE OF LEGISLATION THAT DEFINED THE USE OF "OPEN SPACE" LAND IN ANNE ARUNDEL COUNTY. X 1 0 6783536 459442 -98907 7144071 5439339 248370 1126528 30701 6783536 4104347 142096 1192896 5439339 3811365 292982 4104347 0.04830 0.61850 0.33320 0 0 1102378 1102378 17213553 4475432 12738121 2168334 873124 1295210 144980 144980 15280689 15,203.916 SHS MULTI-STRATEGY EQUITY FD 2951827 F 2951827 INTEREST RATE SWAP 1280615 OBLIGATIONS UNDER CAPITAL LEASE 50098 1330713 17617629 16555023 1062606 -199532 -455589 -655121 407485 14754165 -199532 -2668720 -2868252 17622417 18789 -23577 -4788 17617629 13891091 23577 23577 13867514 18789 2668720 2687509 16555023 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: EVENTUALLY, INCOME GENERATED FROM THE ENDOWMENT WILL BE USED TO SUPPORT THE SCHOOL'S MISSION. CURRENTLY, NO INCOME IS DRAWN FROM ENDOWMENT FUNDS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SCHOOL IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C) (3) OF THE IRC. 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, 2012, THE SCHOOL HAD NO TAXABLE UNRELATED BUSINESS INCOME AND ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REQUIRED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE SCHOOL ADOPTED THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (FASB ASC TOPIC 740-10), WHICH ADDRESSED THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE SCHOOL MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50 PERCENT LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE SCHOOL'S TAX POSITIONS AND CONCLUDED THAT THE SCHOOL HAD 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 2009. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED GAIN/(LOSS) ON INTEREST RATE SWAP -455,589. PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -1,678,565. TUITION REMISSION -925,650. BAD DEBT -64,505. PART XII, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -14,403. RENTAL EXPENSES -9,174. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 14,403. RENTAL EXPENSES 9,174. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,678,565. TUITION REMISSION 925,650. BAD DEBT 64,505. 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 IN THE NEWSPAPER AND ALL PRINTED MATERIAL, AS WELL AS ON THE WEBSITE. BOOK FESTIVAL 92177 92177 39275 92177 92177 39275 39275 52902 1 FINANCIAL AID TO STUDENTS 174 1678565 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: INDIVIDUAL STUDENTS ARE AWARDED SCHOLARSHIPS BASED ON THE FINANCIAL NEEDS OF THE STUDENT. X X X X 0 0 0 0 0 0 0 0 0 MARCELLA M YEDID 324426 0 0 0 0 0 12250 0 22314 0 358990 0 0 0 KENNETH PIEL 172962 0 0 0 0 0 8367 0 5814 0 187143 0 0 0 ANNE ARUNDEL COUNTY 526000878 035895BL4 2008-12-10 9300000 DEBT REFINANCING & RENOVATIONS 0 1 0 225000 9300000 151467 41818 9106715 2009 0 0 1 1 0 0 0 0 1 0 1 1 MANUFACTURERS AND TRADERS TRUST 10.000000000000 0 0 0 0 0 X TRUSTEE 7100 FIN AID X 5 63053 SELLING PRICE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 AFTER A REVIEW OF THE FORM 990 BY THE FINANCIAL MANAGEMENT OF THE SCHOOL, THE SCHOOL'S AUDIT COMMITTEE WILL THEN REVIEW THE RETURN. THE FINAL STEP IN THE REVIEW PROCESS WILL BE THE PRESENTATION OF THE FORM 990 TO THE FULL BOARD OF DIRECTORS OF THE SCHOOL. FORM 990, PART VI, SECTION B, LINE 12C KEY SCHOOL MANDATES COMPLETION OF A CONFLICT OF INTEREST POLICY FORM ANNUALLY BY ALL TRUSTEES. THESE FORMS ARE REVIEWED ANNUALLY IN ORDER TO MAINTAIN COMPLIANCE WITH THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES MEETS REGULARLY TO REVIEW SALARIES. BENCHMARK DATA FROM REGIONAL AND NATIONAL STATISTICS ARE REVIEWED FOR COMPARISON. FORM 990, PART VI, SECTION C, LINE 19 THE KEY SCHOOL DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990 IS AVAILABLE TO THE PUBLIC ON GUIDESTAR. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -199,532. UNREALIZED GAIN/(LOSS) ON INTEREST RATE SWAP -455,589. TOTAL TO FORM 990, PART XI, LINE 5: -655,121. DOVE LANE LLC 543 HILLSMERE DRIVE ANNAPOLIS MD 21403 521356766 REAL ESTATE HOLDING COMPANY MD 31945 332000 N/A THE KEY SCHOOL BUILDING & FINANCE CORP 534 HILLSMERE DRIVE ANNAPOLIS MD 21403 521745985 DORMANT MD KEY SCHOOL INC C 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0