2012-05-11T05:44:19-05:00 2011-06-30 MCGLADREY LLP 100 INTERNATIONAL DRIVE SUITE 1400 BALTIMORE MD 21202 990 2010-07-01 520591516 GARRISON FOREST SCHOOL INC GARR 4103631500 300 GARRISON FOREST SCHOOL OWINGS MILLS MD 21117 WILLIAM S HODGETTS 4103631500 2012-05-07 1 JULIA FLANNERY CPA 4102469300 2010 2016-02-24 21:20:13Z PETER O'NEILL 300 GARRISON FOREST SCHOOL OWINGS MILLS MD 21117 24250521 0 X WWW.GFS.ORG X 1939 MD AT GARRISON FOREST SCHOOL, WE PREPARE OUR STUDENTS IN AND OUT OF THE CLASSROOM TO THRIVE IN A COMPLEX AND CHANGING WORLD. 30 30 263 150 222150 -86113 4026212 4528435 17203863 17425531 -1443392 953605 17068 163859 19803751 23071430 2609258 2771602 0 0 10332226 10111861 0 0 957012 8969239 8866429 21910723 21749892 -2106972 1321538 70527905 76460963 19235241 18239483 51292664 58221480 X AT GARRISON FOREST SCHOOL, WE PREPARE OUR STUDENTS IN AND OUT OF THE CLASSROOM TO THRIVE IN A COMPLEX, CHANGING WORLD BY: CHALLENGING THEM TO STRIVE FOR ACADEMIC EXCELLENCE AND TO GROW INTO INFORMED, INDEPENDENT, AND CREATIVE THINKERS; CULTIVATING AN AUTHENTIC AND RESILIENT SENSE OF SELF, GROUNDED IN RESPECT AND INTEGRITY; CREATING A DIVERSE AND INCLUSIVE COMMUNITY BUILT ON A SPIRIT OF CARING; INSPIRING YOUNG WOMEN TO LEAD AND TO SERVE WITH PASSION, PURPOSE, AND JOY. 0 0 12457373 2771602 15655819 EDUCATIONAL AND GENERAL: INCLUDES INSTRUCTION, STUDENT SUPPORT SERVICES AND PLANT MAINTENANCE TO SERVE 650 STUDENTS AT THE SCHOOL. 3159233 1769712 AUXILIARY ENTERPRISES: INCLUDES STUDENT ACTIVITIES, SUMMER ACTIVITIES AND STABLES. ACTIVITIES ARE AVAILABLE TO ALL STUDENTS. SOME ACTIVITIES ARE AVAILABLE TO THE GENERAL PUBLIC. 15616606 1 1 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 113 0 1 263 1 1 1 1 VI CJ 0 0 0 0 0 0 0 0 X 30 30 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MD X STACY MOHN CONTROLLER 4105593142 300 GARRISON FOREST ROAD OWINGS MILLS MD 21117 LILA BOYCE LOHR 2.00 X X 0 0 0 CARROLL DAWBARN 2.00 X X 0 0 0 DAVID DIPIETRO 2.00 X X 0 0 0 AMABEL BOYCE JAMES 2.00 X X 0 0 0 TIMOTHY T WEGLICKI 2.00 X X 0 0 0 EMILY GARDNER BARATTA 2.00 X 0 0 0 DR SARA N BLEICH 2.00 X 0 0 0 FRANK A BONSAL III 2.00 X 0 0 0 ROBERT S BRENNEN 2.00 X 0 0 0 DIANA WARFIELD DALY 2.00 X 0 0 0 TIMOTHY F DANIELS 2.00 X 0 0 0 MATHIAS J DEVITO 2.00 X 0 0 0 JEFFREY W DURKEE 2.00 X 0 0 0 STACY GARRETT-RAY 2.00 X 0 0 0 KIMBERLY W GORDON 2.00 X 0 0 0 MOLLY MUNDY HATHAWAY 2.00 X 0 0 0 SARA LEBRUN INGRAM 2.00 X 0 0 0 CATHERINE Y JACKSON 2.00 X 0 0 0 IRA H MALIS 2.00 X 0 0 0 DR WILLIAM PARRISH 2.00 X 0 0 0 GREGORY C PINKARD 2.00 X 0 0 0 KARAN POWELL PH D 2.00 X 0 0 0 SUSAN OBRECHT RIEHL 2.00 X 0 0 0 R TODD RUPPERT 2.00 X 0 0 0 SARAH CROSBY SCHWEIZER 2.00 X 0 0 0 ELIZABETH B SEARLE 2.00 X 0 0 0 CAROLINE RINEHART STEWART 2.00 X 0 0 0 ELIZABETH GARLAND WILMERDING 2.00 X 0 0 0 WILLIAM L YERMAN 2.00 X 0 0 0 TIFFANY A ZAPPULLA 2.00 X 0 0 0 PETER O'NEILL 40.00 X 269256 0 125256 WILLIAM HODGETTS 40.00 X 159456 0 46407 DEANNA URNER 40.00 X 100017 0 17106 MELINDA BIHN 40.00 X 111409 0 6450 640138 0 195219 4 0 1 0 SAGE DINING SERVICES 222 BOSLEY AVENUE BALTIMORE MD 21204 CONTRACT WORK 785157 GLEN ARM BUILDING CO LLC 658 KENILWORTH DRIVE SUITE 10 TOWSON MD 21204 CONSTRUCTION 323259 2 4528435 327771 4528435 STUDENT TUITION FEES 900099 15772599 15772599 HORSE & STABLE INCOME 713990 642954 420804 222150 CAFETERIA AND SNACK BA 722210 184418 184418 SCHOLARSHIPS 900099 175635 175635 EXT. & DAY CARE PROG. 900099 121849 121849 528076 528076 17425531 479650 479650 151396 151396 151396 151396 1524490 1050535 473955 473955 473955 141019 128556 12463 12463 23071430 17018963 222150 1301882 2771602 2771602 603573 416275 156258 31040 7638512 4907367 2203086 528059 529232 322055 173056 34121 662068 444261 190550 27257 678476 463331 176947 38198 20055 20055 68860 68860 10782 10782 422230 379529 42701 1484128 1237209 157386 89533 263549 28752 234797 1013949 1013949 31176 21189 9987 10335 10335 384861 372448 12413 1422096 853258 568838 222852 222852 STABLE 832466 832466 CAFETERIA 717538 717538 SECURITY 212170 212170 ATHLETICS 162717 162717 INFIRMARY 135125 135125 1451540 527200 725523 198817 21749892 15616606 5176274 957012 2500 2500 2249858 2036272 3006476 3283260 329997 523612 30000 20000 7454 7454 48631393 19304768 29532060 29326625 31394902 26321956 2014035 13939586 1960623 999698 70527905 76460963 1444756 1550175 3704343 3632051 12877526 11984252 1208616 1073005 19235241 18239483 X 16330307 16156274 10506390 14699832 24455967 27365374 51292664 58221480 70527905 76460963 X 1321538 5607278 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24455967 2909407 27365374 22606333 1849634 24455967 33934230 653689 -10691346 1290240 22606333 1.00000 0 0 614655 614655 44171306 15789584 28381722 3845432 3515184 330248 29326625 SHORT-TERM INVESTMENTS 2719229 F HC CAPITAL TRUST INSTITIONAL INTERNATIONAL EQUITY PORTFOLIO (HCINX) 6823893 F HC CAPITAL TRUST INSTL GRWTH EQUITY PORTFOLIO (HCIGX) 4396464 F 13939586 LINE OF CREDIT 409194 INTEREST RATE SWAP CONTRACT 663811 1073005 23071430 21749892 1321538 5471667 135611 5607278 6928816 25889269 5471667 128556 5600223 20289046 10782 2771602 2782384 23071430 18960453 -7055 -7055 18967508 10782 2771602 2782384 21749892 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE SCHOOL'S FINANCE COMMITTEE WILL ESTABLISH THE SPECIFIC DOLLAR AMOUNT THAT THE FUND WILL BE EXPECTED TO GENERATE TO CONTRIBUTE TO THE SCHOOL'S OPERATING FUND FOR THE NEXT FISCAL YEAR. THE DRAW FROM THE ENDOWMENT, OR SPENDING RATE, IS 4.0%. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SCHOOL HAS ADOPTED THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES 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 POLICY, THE SCHOOL MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAT-NOT THAT THE TAX POSITION WOULD BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON TECHNICAL MERITS OF THE POSITION. MANAGEMENT HAS EVALUATED THE SCHOOL'S TAX POSITIONS AND HAS CONCLUDED THAT THE SCHOOL HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THIS GUIDANCE. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE JUNE 30, 2008. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED GAIN ON INTEREST RATE SWAP 135,611. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD AMOUNTS NETTED WITH REVENUE 128,556. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AMOUNTS NETTED ON FINANCIAL STATEMENTS 2,771,602. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD AMOUNTS NETTED WITH REVENUE 128,556. UNREALIZED GAIN ON SWAP AGREEMENT -135,611. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AMOUNTS NETTED ON FINANCIAL STATEMENTS 2,771,602. 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 THE BALTIMORE INDEPENDENT SCHOOL CONSORTIUM PUBLISHES ANNUALLY IN THE LOCAL NEWSPAPERS AN ANNOUNCEMENT LISTING THE NAMES OF ALL MEMBER SCHOOLS, WHICH PUTS FORWARD OUR UNIFIED NON- DISCRIMINATORY POLICY. GARRISON IS LISTED IN THIS ANNOUNCEMENT. 1 FINANCIAL AID 202 2771602 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GFS HAS BOTH PAPER AND ELECTRONIC FILES. GFS USES FACTS, A SUPPLEMENTAL FORM, PAY STUBS, TAX RETURNS AND W-2'S TO HELP EVALUATE THE FINANCIAL NEED OF FAMILIES. THE PREVIOUS YEAR'S TAX RETURN IS USED IN THE INITIAL DECISION BUT THE AMOUNT AWARDED IS CONTINGENT UPON RECEIPT AND REVIEW OF THE CURRENT YEAR'S TAX RETURN. IF THERE IS A SIGNIFICANT DISCREPENCY BETWEEN THE INFORMATION A FAMILY PROVIDED AND THE CURRENT TAX RETURN, AN AWARD WOULD BE ADJUSTED ACCORDINGLY. FAMILIES ARE NOTIFIED IN AN AWARD LETTER THE AMOUNT THAT WILL BE APPLIED TOWARDS THEIR TUITION. A REPORT IS SENT TO THE BUSINESS OFFICE WITH THESE AWARDS AND ARE APPLIED TO THE STUDENT'S ACCOUNT. UPDATES / NEW ADDITIONS ARE SENT TO THE BUSINESS OFFICE AS NEEDED. X 1 1 X X 0 0 0 0 0 0 0 0 0 PETER O'NEILL 269256 0 0 0 0 0 54163 0 71177 0 394596 0 0 0 WILLIAM HODGETTS 159456 0 0 0 0 0 28768 0 17723 0 205947 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL RECIEVES A HOUSING ALLOWANCE. THE AMOUNT IS NOT INCLUDED IN HIS TAXABLE COMPENSATION. BALTIMORE COUNTY MD ECONOMIC DEVELOPMENT REVENUE BONDS GFS PROJECT 520591516 059136AY7 2006-10-01 17000000 CONSTRUCTION 0 1 0 12669745 4200000 117700 8352045 1 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 1 1 0 0 0 0 PETER O'NEILL X 100000 20000 0 1 1 20000 X 19 327771 MKT PRICE - DATE OF TRAN 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBER GREG PINKARD AND BOARD MEMBER SUSAN RIEHL HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE FINAL DRAFT OF THE 990 WILL BE DISTRIBUTED AND REVIEWED IN THE FINANCE COMMITTEE, THEN SUBSEQUENTLY PRESENTED AND REVIEWED BY THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C EVERY BOARD MEMBER MUST READ AND SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY. THE HEAD OF SCHOOL'S ASSISTANT IS RESPONSIBLE FOR THE DISTRIBUTION AND TRACKING OF THIS DOCUMENT. FORM 990, PART VI, SECTION B, LINE 15A IN DETERMINING THE COMPENSATION LEVEL FOR THE HEAD OF SCHOOL, LOCAL AND NATIONAL COMPARABLE STATISTICS ARE GATHERED, REVIEWED AND DOCUMENTED BY THE EXECUTIVE COMMITTEE OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 5,471,667. UNREALIZED GAIN ON INTEREST RATE SWAP 135,611. TOTAL TO FORM 990, PART XI, LINE 5: 5,607,278.