2012-05-11T13:45:12-05:00 2011-06-30 MCGLADREY LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2010-07-01 520635092 LANDON SCHOOL CORPORATION LAND 3013203200 6101 WILSON LANE BETHESDA MD 20817 DAVID M ARMSTRONG 3013203200 2012-05-11 1 WILLIAM E TURCO CPA 3012963600 2010 2016-02-24 21:20:13Z DAVID M ARMSTRONG 6101 WILSON LANE BETHESDA MD 20817 28773636 0 X WWW.LANDON.NET X 1936 MD MAINTAINING EDUCATIONAL PROGRAMS FOR STUDENTS AT THE ELEMENTARY AND HIGH SCHOOL LEVELS. 26 26 375 0 0 0 4971766 3736181 22171982 23132758 351703 308501 425124 290811 27920575 27468251 2278202 2380067 0 0 15996647 17342542 0 0 1335248 9081754 9300710 27356603 29023319 563972 -1555068 40780058 40597554 25845130 25867505 14934928 14730049 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 23837365 2380067 23132758 MAINTAINING EDUCATIONAL PROGRAMS FOR STUDENTS AT THE ELEMENTARY AND HIGH SCHOOL LEVELS. 23837365 1 1 0 0 0 0 0 0 1 1 0 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 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 85 0 1 375 1 0 0 0 0 0 1 1 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X TRANG LE 3013203200 6101 WILSON LANE BETHESDA MD 20817 TOM CUNNINGHAM 1.50 X X 0 0 0 H SHERMAN JOYCE 1.50 X X 0 0 0 STEVEN BERNARD GEWIRZ 1.50 X X 0 0 0 CARTER HERTZBERG 1.50 X X 0 0 0 JOE KENARY 1.50 X 0 0 0 HILLARY BALTIMORE 1.50 X 0 0 0 STEPHEN W COMISKEY 1.50 X 0 0 0 MARIO H BOIARDI 1.50 X 0 0 0 MICHAEL J DARBY 1.50 X 0 0 0 FRANCIS O DAY IV 1.50 X 0 0 0 NANCY ELLEN DUBER 1.50 X 0 0 0 PETER J FITZGERALD SR 1.50 X 0 0 0 JEFFREY EUGENE HARRIS 1.50 X 0 0 0 WALLACE F HOLLADAY JR 1.50 X 0 0 0 AWILDA KIGHT 1.50 X 0 0 0 KNIGHT AUSTIN KIPLINGER 1.50 X 0 0 0 SAM LEHRMAN 1.50 X 0 0 0 DANIEL LYNN KORENGOLD 1.50 X 0 0 0 LAWRENCE L LAMADE 1.50 X 0 0 0 JOHN PENDLETON LEACHMAN 1.50 X 0 0 0 RUSSELL C LINDNER 1.50 X 0 0 0 CHRISTOPHER NICHOLAS MANNING 1.50 X 0 0 0 EVAN BRETT MCMAHON 1.50 X 0 0 0 DAVID MORGAN 1.50 X 0 0 0 CHIP FITZGERALD 1.50 X 0 0 0 HOUSTON KEITH POWELL 1.50 X 0 0 0 STACY ROBINSON 1.50 X 0 0 0 DALE WOLF 1.50 X 0 0 0 LOUIS DUPART 1.50 X 0 0 0 DAVID M ARMSTRONG 60.00 X 352030 0 94740 TIMOTHY HARRISON 60.00 X 113463 0 54847 NEIL PHILLPS 60.00 X 134364 0 65041 MARCOS WILLIAMS 60.00 X 132299 0 60572 KENNETH ASHWORTH 60.00 X 182733 0 72441 ALAN ROSENTHAL 60.00 X 118236 0 27769 ALBERT MURRAY 60.00 X 113228 0 36222 SHARON KARLIN 60.00 X 113275 0 23519 HANS FARNSTROM 60.00 X 145908 0 27458 JAMES KIRKPATRICK 60.00 X 113907 0 17729 1519443 0 480338 10 0 1 0 FORRESTER CONSTRUCTION COMPANY 12231 PARKLAWN DRIVE ROCKVILLE MD 20852 CONSTRUCTION 988096 SODEXO INC & AFFILIATES PO BOX 536922 ATLANTA GA 30353 FOOD SERVICE 924368 RED COATS INC 4401 EAST-WEST HIGHWAY BETHESDA MD 20814 CUSTODIAL SERVICE 382328 BRAILSFORD & DUNLAVEY 1140 CONNECTICUT AVENUE NW STE 4 WASHINGTON DC 20036 FACILITY PLANNING 114239 FRANK GUMPERT PRINTING COINC 1789 MCGUCKIAN ST ANNAPOLIS MD 21401 PRINTING 108370 6 38880 3697301 389475 3736181 TUITION & FEES 900099 20892937 20892937 AUXILIARY SERVICES 900099 2239821 2239821 23132758 301433 301433 1088782 1081714 7068 7068 7068 499961 38880 223671 276290 276290 OTHER INCOME 900099 14521 14521 14521 27468251 23132758 0 599312 2380067 2380067 1272842 1008835 207116 56891 12384862 10254809 1500249 629804 762076 564782 170930 26364 1986541 1380387 550676 55478 936221 799687 88884 47650 36636 36636 69942 69942 65836 65836 1649763 1649763 34389 725 33664 472497 249105 111897 111495 76600 76600 2158287 2148161 10126 228228 102458 63563 62207 60376 60376 582425 477590 69890 34945 2217604 1818435 266113 133056 210834 172884 25300 12650 ACADEMIC MATERIALS 364705 364705 BOOK STORE 257615 257615 PROFESSIONAL DEVELOPMEN 252401 246668 5733 MASTER PLAN 120910 120910 HEADMASTER EXPENSES 118006 118006 323656 71106 127239 125311 29023319 23837365 3850706 1335248 500 500 1538211 1152769 2015143 2056363 850934 1204245 476463 606274 134563 155571 144188 16703 58576633 32633949 27690529 25942684 7678100 9128132 251427 248813 0 85500 40780058 40597554 2910408 3339532 9206200 8853224 8700000 10114264 2627116 270855 2401406 3289630 25845130 25867505 X 227641 -772522 4622704 5324833 10084583 10177738 14934928 14730049 40780058 40597554 X -1555068 1350189 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14027117 93155 -65836 86242 13968194 14158372 33098 -103485 60868 14027117 13929486 337447 -68246 40315 14158372 0.27000 0.73000 0 0 509249 509249 2382043 43474912 21576426 24280529 1661403 1664291 -2888 10549026 9393232 1155794 25942684 CAPITAL LEASE OBLIGATIONS 15015 INTEREST RATE SWAP AGREEMENT 1035781 FUNDS HELD FOR OTHERS 338834 LINE OF CREDIT 1900000 3289630 27468251 29023319 -1555068 1391421 -41232 1350189 -204879 26413769 1391421 -2380067 -988646 27402415 65836 65836 27468251 26618648 41232 41232 26577416 65836 2380067 2445903 29023319 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. DURING THE YEAR ENDED JUNE 30, 2011, 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 2008. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED GAIN (LOSS) ON INTEREST RATE SWAP -41,232. PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE NETTED AGAINST TUITION IN THE FINANCIAL STATEMENT -2,380,067. PART XIII, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSS ON INTEREST RATE SWAP AGREEMENT 41,232. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE NETTED AGAINST TUITION IN THE FINANCIAL STATEMENT 2,380,067. 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. AZALEA FESTIVAL 438630 38680 399950 184299 GREENS SALE 100211 200 100011 39372 538841 38880 499961 223671 223671 276290 1 TUITION FINANCIAL AID 136 2380067 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 ADHERES BY STRICT RULES TO PREVENT RELATED PARTIES SUCH AS DISQUALIFIED PERSONS FROM BENEFITING FROM FINANCIAL ASSISTANCE. X X 1 1 X X 0 0 0 0 0 0 0 0 0 DAVID M ARMSTRONG 349758 0 0 0 2272 0 22000 0 79688 0 453718 0 0 0 TIMOTHY HARRISON 112560 0 0 0 903 0 5625 0 49750 0 168838 0 0 0 NEIL PHILLPS 134007 0 0 0 357 0 6950 0 58997 0 200311 0 0 0 MARCOS WILLIAMS 130093 0 0 0 2206 0 6572 0 54874 0 193745 0 0 0 KENNETH ASHWORTH 180927 0 0 0 1806 0 14350 0 59147 0 256230 0 0 0 HANS FARNSTROM 144586 0 0 0 1322 0 20400 0 7580 0 173888 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 TIMOTHY HARRISON - $40,000 NEIL PHILLPS - $40,000 MARCOS WILLIAMS - $40,000 KENNETH ASHWORTH - $40,000 DAVID ARMSTRONG RECEIVED NON-TAXABLE DISCRETIONARY SPENDING IN THE AMOUNT OF $20,000. 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 10114264 107717 10006547 2011 1 0 1 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 1 1 SUNTRUST 8.000000000000 0 0 0 0 0 X 13 389475 MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED BY THE OUTSIDING ACCOUNTING FIRM OF THE SCHOOL. THE RETURN IS THEN REVIEWED BY THE PRESIDENT, BUSINESS MANAGER, AND CONTROLLER BEFORE BEING MADE AVAILABLE TO THE TRUSTEES VIA A SECURE WEBLINK. 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 THE ASSOCIATION OF INDEPENDENT SCHOOLS OF GREATER WASHINGTON (AISGW) 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 5: NET UNREALIZED GAINS ON INVESTMENTS: 1,391,421. UNREALIZED GAIN (LOSS) ON INTEREST RATE SWAP -41,232. TOTAL TO FORM 990, PART XI, LINE 5: 1,350,189.