2012-03-05T15:59:14-06:00 2011-06-30 MCGLADREY & PULLEN LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2010-07-01 530196507 THE HOLTON-ARMS SCHOOL HOLT 3013655300 7303 RIVER ROAD BETHESDA MD 20817 SUSANNA A JONES 3013655300 2012-03-05 1 WILLIAM E TURCO CPA 3012963600 2010 2016-02-24 21:20:13Z SUSANNA A JONES 7303 RIVER ROAD BETHESDA MD 20817 49127993 0 X WWW.HOLTON-ARMS.EDU X 1964 MD A PRIVATE EDUCATIONAL INSTITUTION FOR GIRLS IN GRADES THREE THROUGH TWELVE 21 20 495 250 0 0 1016856 1514897 20847680 21936946 -1681927 2148080 470463 669955 20653072 26269878 2782559 3196216 0 0 14414709 14924243 0 0 1104703 8958499 9428670 26155767 27549129 -5502695 -1279251 88635604 95217036 31900493 32191133 56735111 63025903 THE MISSION OF THE HOLTON-ARMS SCHOOL IS TO CULTIVATE THE UNIQUE POTENTIAL OF YOUNG WOMEN THROUGH THE "EDUCATION NOT ONLY OF THE MIND, BUT OF THE SOUL AND SPIRIT." 0 0 21796738 3089949 21936946 FOUNDED IN 1901, HOLTON-ARMS IS A COLLEGE-PREPARATORY SCHOOL FOR GIRLS GRADES 3-12. THE SCHOOL PROVIDES RIGOROUS AND DYNAMIC PROGRAMS IN THE TRADITIONAL ACADEMIC AREAS,THE FINE AND PERFORMING ARTS AND ATHLETICS. THE SCHOOL IS ACCREDITED BY: MIDDLE STATES ASSOCIATION OF COLLEGES & SCHOOLS; ASSOCIATION OF INDEPENDENT MARYLAND SCHOOLS; AND LICENSED IN THE STATE OF MARYLAND. 21796738 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 1 1 0 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 50 1 1 495 1 0 0 0 0 0 1 1 0 0 0 0 X 21 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MD X JANICE DEMARE-ASSISTANT SECRETARY 3013656007 7303 RIVER ROAD BETHESDA MD 20817 AMY KASLOW 3.00 X X 0 0 0 PATRICK M REGAN 3.00 X X 0 0 0 LESLIE LAWLEY MEYER 3.00 X X 0 0 0 R HOWARD TAYLOR III 3.00 X X 0 0 0 SHARLENE PETRY AMITAY 3.00 X 0 0 0 BARBARA LANDOW BERNSTEIN 3.00 X 0 0 0 RANDALL BOE 3.00 X 0 0 0 MELANIE G DORSEY 3.00 X 0 0 0 ANNA-LIZA HARRIS 3.00 X 0 0 0 CLAUDIA MISPIRETA HINSCH 3.00 X 0 0 0 WILLIAM JACKSON 3.00 X 0 0 0 GABRIELLE JL KORAB 3.00 X 0 0 0 LORI LARSON 3.00 X 0 0 0 PETER MANOS 3.00 X 0 0 0 CATHERINE B REYNOLDS 3.00 X 0 0 0 KIMBERLY HOFFMAN SAMPERTON 3.00 X 0 0 0 MARY CATHERINE JONES THOMPSON 3.00 X 0 0 0 DOROTHY WADE-VUTURO 3.00 X 0 0 0 MARY A WALLACK 3.00 X 0 0 0 CHRISTIE-ANNE WEISS 3.00 X 0 0 0 JOHN J WU 3.00 X 0 0 0 JANICE V DEMARE 40.00 X 78286 0 26005 SUSANNA A JONES 40.00 X 375097 0 133805 RICHARD ESPOSITO 40.00 X 119146 0 18285 KATHLEEN C DEFRANCO 40.00 X 92724 0 28342 ELIZABETH PENCE 40.00 X 131517 0 81960 SHARRON RODGERS 40.00 X 132792 0 26399 ANNA HOSEA 40.00 X 114673 0 9044 PATRICK BANE 40.00 X 114173 0 9044 JULIA TREADWELL 40.00 X 108875 0 61874 1267283 0 394758 11 0 1 0 SODEXO PO BOX 536922 ATLANTA GA 303536922 FOOD SERVICE 683887 MAKRO SERVICES PO BOX 1536 ROCKVILLE MD 20849 CLEANING SERVICES 450386 DESIGNDATA 7606 LINDBERGH DR GAITHERSBURG MD 20879 IT CONSULTING 295230 VENABLE PO BOX 630798 BALTIMORE MD 212630798 LEGAL SERVICES 108629 KC COMPANY INC 12100 BALTIMORE AVENUE STE 1 BELTSVILLE MD 20705 WINDOW REPLACEMENT 103050 6 14429 1500468 34101 1514897 EDUCATIONAL PROGRAM 900099 21802308 21802308 STUDENT SUPPORT SERVIC 900099 134638 134638 21936946 1426987 1426987 336752 336752 336752 336752 23364100 22643007 721093 721093 721093 265353 14429 123246 142107 142107 21750 21750 21750 161547 91862 69685 69685 OTHER INCOME 900099 99661 99661 99661 26269878 21936946 0 2818035 3196216 3196216 511738 511738 11590290 9566142 1442640 581508 850738 850738 1102715 1015178 87537 868762 868762 40090 40090 184612 184612 69762 69762 314138 314138 134675 134675 128576 47192 81384 433323 433323 1510981 1497407 13574 252521 231006 5563 15952 881366 881366 2172051 1672479 390969 108603 203659 203659 STUDENT SUPPORT 954305 954305 SPECIAL PROGRAMS & PROF 569152 567436 1716 STUDENT ACTIVITIES 511805 511805 OTHER EXPENSES 403925 32123 371802 ACADEMIC, CURRICULUM & 352626 352626 311103 311103 27549129 21796738 4647688 1104703 2153 8716 4174888 4633356 638684 493678 113144 62874 72117 74591 744776 898932 67882936 28988764 40329349 38894172 42442597 50043072 117896 107645 88635604 95217036 2128935 2075665 6427206 7254275 20200000 19700000 3144352 3161193 31900493 32191133 X 51015433 55986884 221718 1202598 5497960 5836421 56735111 63025903 88635604 95217036 X -1279251 7570043 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 44039228 1023767 9154022 3190820 51026197 41955351 4185741 -270944 1830920 44039228 52101886 2716144 12862679 41955351 0.89000 0.11000 0 0 3961813 3961813 56640043 22830932 33809111 4130869 3107210 1023659 3150211 3050622 99589 38894172 FUNDS HELD FOR OTHERS 859155 INTEREST RATE SWAP AGREEMENT 2302038 3161193 26269878 27549129 -1279251 7320793 249250 7570043 6290792 30853981 7320793 -2637660 4683133 26170848 314138 -215108 99030 26269878 24563189 215108 215108 24348081 314138 2886910 3201048 27549129 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE BOARD OF TRUSTEES SETS THE ANNUAL SPENDING POLICY FOR THE POOLED INVESTMENT FUND WITH THE GOAL OF BALANCING THE BENEFIT FOR PRESENT OPERATIONS AND SAFEGUARDING THE INSTITUTION FOR FUTURE PLANS. 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 INTERNAL REVENUE CODE. HOWEVER, THE SCHOOL IS SUBJECT TO INCOME TAXES ON UNRELATED BUSINESS INCOME, AS DEFINED BY THE INTERNAL REVENUE SERVICE. THE SCHOOL ADOPTED THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (FASB ASC TOPIC 740-10), 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 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 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 YEARS BEFORE 2008. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED GAIN/(LOSS) ON INTEREST RATE SWAP 249,250. PART XII, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN/(LOSS) ON INTEREST RATE SWAP AGREEMENT 249,250. FINANCIAL AID -2,886,910. PART XII, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON LINE 10B -91,862. SPECIAL EVENT EXPENSES REPORTED ON LINE 9B -123,246. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON LINE 10B 91,862. SPECIAL EVENT EXPENSES REPORTED ON LINE 9B 123,246. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,886,910. 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 RACIAL NONDISCRIMINATION POLICY IS PUBLICIZED THROUGH PRINTED MATERIALS AND PERIODIC ADVERTISEMENTS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES GLOBAL EDUCATION - COSTA RICA 1943 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES GLOBAL EDUCATION - FRANCE AND SPAIN 40120 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES GLOBAL EDUCATION - SENEGAL 1500 SOUTH ASIA 0 0 PROGRAM SERVICES GLOBAL EDUCATION - INDIA 73772 0 0 0 0 0 0 117335 0 117335 0 0 0 0 0 0 OTHER INFORMATION SCHEDULE F, PART V THE REPORTING OF EXPENSES PAID DIRECTLY IN A FOREIGN COUNTRY DOES NOT REPRESENT THE FULL EXPENSE OF THE GLOBAL EDUCATION PROGRAM AS EXPENSES FOR PROGRAMS TO SENEGAL AND COSTA RICA ARE PAID TO US-BASED COMPANIES. GALA 279782 14429 265353 15000 64019 44227 279782 14429 265353 15000 64019 44227 123246 142107 21750 0 21750 21750 MD 1 0 0 0 1.00000 0.00000 DANIELLE BEYDA 7303 RIVER ROAD BETHESDA MD 20817 0 DANIELLE BEYDA 610 DIRECTS ALL SPECIAL EVENTS AT HOLTON-ARMS X 0 FORM 990, PART III, LINE 3 THE LOTTERY PRIZE WAS THE REDUCTION IN THE TUITION IN THE AMOUNT OF $10,000. THIS WAS FUNDED FROM PROCEEDS DONATED FOR SCHOLARSHIPS. THE SCHOOL FILED THE FORM W-2G WITH THE IRS AND COPY WAS ISSUED TO THE LOTTERY WINNER. 1 FINANCIAL AID 157 3077948 GRANT SUPPORT 1 12000 RECIPROCAL TUITION REMISSION 5 106268 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE SCHOOL AWARDS FINANCIAL AID BASED ON THE DECISION OF THE SCHOOL'S AID AWARD COMMITTEE WHICH UTILIZES THE PRINCETON SYSTEM TO ESTABLISH THE NEED OF THE RECIPIENTS. THE ALUMNAE SCHOLARSHIP - THE ALUMNAE BOARD SELECTS ONE STUDENT ANNUALLY TO RECEIVE A $12K SCHOLARSHIP FROM APPLICATION LETTERS SUBMITTED BY THE 11TH GRADE STUDENTS. RECIPROCAL TUITION REMISSION - THE SCHOOL HAS A RECIPROCAL AGREEMENT WITH ANOTHER PRIVATE EDUCATIONAL INSTITUTION. X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 SUSANNA A JONES 257125 0 0 0 117972 0 54600 0 89855 0 519552 0 92972 0 ELIZABETH PENCE 131517 0 0 0 0 0 11098 0 71354 0 213969 0 0 0 SHARRON RODGERS 132792 0 0 0 0 0 12498 0 14389 0 159679 0 0 0 JULIA TREADWELL 108875 0 0 0 0 0 8633 0 53650 0 171158 0 0 0 PART I, LINE 1A SUSANNA A. JONES NON-TAXABLE HOUSING BENEFIT OF $54,000 INCLUDING CLEANING SERVICES ELIZABETH G. PENCE NON-TAXABLE HOUSING BENEFIT OF $48,000 JULIA TREADWELL NON-TAXABLE HOUSING BENEFIT OF $48,000 PART I, LINE 4B SUSANNA A. JONES - DEFERRAL UNDER A 457(F) SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN - $35,000 VESTING UNDER A 457(F) SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN -- $92,272 FIN. AID $17,325 X 10 34101 SELLING PRICE 0 1 1 THIRD PARTY USE: PART I, LINE 32B: SCHOOL MAINTAINS AN ACCOUNT WITH A LICENSED SECURITIES DEALER. THE SALE OF DONATED SECURITIES IS CONDUCTED BY THE LICENSED SECURITY DEALER. FORM 990, PART VI, SECTION B, LINE 11 BEFORE THE 990 IS FILED IT WILL GO THROUGH A NUMBER OF REVIEWS. 1. IT WILL BE PRESENTED TO THE AUDIT COMMITTEE AND REVIEWED WITH THE COMMITTEE BY A REPRESENTATIVE OF THE INDEPENDENT AUDITING FIRM'S TAX DEPARTMENT. 2. ONCE THE AUDIT COMMITTEE APPROVES THE DOCUMENT, IT WILL BE POSTED ON A SECURE WEBSITE FOR REVIEW BY THE ORGANIZATION'S OFFICERS, DIRECTORS, AND BOARD OF TRUSTEES. IT WILL BE LEFT THERE FOR A STATED PERIOD OF TIME AND THEN REMOVED. 3. ONCE WE KNOW THAT THE BOARD HAS BEEN GIVEN ENOUGH TIME FOR THIS REVIEW PROCESS, THEN THE 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, AT THE FIRST BOARD OF TRUSTEES MEETING OF THE SCHOOL YEAR, WE REQUIRE THAT EVERYONE STATED TO BE INVOLVED IN THIS PROCESS COMPLETE AND SIGN A FORM DISCLOSING WHETHER THERE IS A CONFLICT OF INTEREST. THESE FORMS ARE MAINTAINED BY THE ASSISTANT SECRETARY OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 15A AT THE TIME OF A NEW HIRE, OR AT CONTRACT TIME FOR THE EXISTING HEAD OF SCHOOL, THE BOARD OF TRUSTEES USES A NUMBER OF METRICS AND CONDUCTS MEETINGS TO DETERMINE EQUITABLE COMPENSATION. EXAMPLES OF THE PROCESS ARE AS FOLLOWS: AN INDEPENDENT COMPENSATION CONSULTANT IS HIRED BY THE BOARD OF TRUSTEES. THE CONSULTANT CONDUCTS A COMPENSATION SURVEY OF COMPETITOR PEER SCHOOLS AND PREPARES A WRITTEN REPORT. THE FORM 990 OF OTHER SIMILAR ORGANIZATIONS, AVAILABLE ON GUIDESTAR, IS ONE FACTOR USED FOR COMPARISON. THE BOARD OF TRUSTEES' COMPENSATION COMMITTEE STUDIES THE CONSULTANT'S REPORT AND OTHER DATA AND RECOMMENDS COMPENSATION AND BENEFITS FOR THE CONTRACT TO THE BOARD OF TRUSTEES. THE EMPLOYMENT CONTRACT IS REVIEWED BY A LEGAL FIRM. THE BOARD OF TRUSTEES DISCUSSES AND VOTES ON THE COMPENSATION COMMITTEE RECOMMENDATION AND ON THE APPROVAL OF THE CONTRACT. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 7,320,793. UNREALIZED GAIN/(LOSS) ON INTEREST RATE SWAP 249,250. TOTAL TO FORM 990, PART XI, LINE 5: 7,570,043.