2012-05-15T07:34:49-05:00 2011-06-30 MCGLADREY LLP 100 INTERNATIONAL DRIVE SUITE 1400 BALTIMORE MD 21202 990 2010-07-01 520591510 CALVERT SCHOOL INC CALV 4102436054 105 TUSCANY ROAD BALTIMORE MD 21210 JOSEPH P MCGRAW 4102436054 2012-05-14 JULIA FLANNERY CPA 4102469300 2010 2016-02-24 21:20:13Z CALVERT SCHOOL ANDREW D MARTIRE 105 TUSCANY ROAD BALTIMORE MD 21210 36265432 0 X WWW.CALVERTSCHOOLMD.ORG X 1897 MD CALVERT SCHOOL IS DEDICATED TO EDUCATING BOYS AND GIRLS THROUGH ITS TIME-TESTED METHOD OF TEACHING AND ITS RIGOROUS CURRICULUM. PARTICULAR EMPHASIS IS GIVEN TO MASTERING ESSENTIAL SKILLS, INSPIRING A LIFELONG LOVE OF LEARNING, AND INSTILLING ENTHUSIASM, RESPONSIBILITY, AND SELF-DISCIPLINE. CALVERT SEEKS TO DEVELOP STUDENTS OF HIGH ACADEMIC ACHIEVEMENT, INTELLECTUAL CURIOSITY, AND STRONG MORAL CHARACTER WITHIN A SUPPORTIVE AND DIVERSE COMMUNITY. 19 18 294 125 896177 19360 961777 2526978 25120270 27101906 223061 733120 12270 25324 26317378 30387328 1397189 1535145 0 0 15660405 15646487 0 81269 647034 13075380 13482853 30132974 30745754 -3815596 -358426 80979031 84318329 22979391 17800831 57999640 66517498 X CALVERT SCHOOL IS DEDICATED TO EDUCATING BOYS AND GIRLS THROUGH ITS TIME-TESTED METHOD OF TEACHING AND ITS RIGOROUS CURRICULUM. PARTICULAR EMPHASIS IS GIVEN TO MASTERING ESSENTIAL SKILLS, INSPIRING A LIFELONG LOVE OF LEARNING, AND INSTILLING ENTHUSIAM, RESPONSIBILITY, AND SELF-DISCIPLINE. CALVERT SEEKS TO DEVELOP STUDENTS OF HIGH ACADEMIC ACHIEVEMENT, INTELLECTUAL CURIOSITY, AND STRONG MORAL CHARACTER WITHIN A SUPPORTIVE AND DIVERSE COMMUNITY. 0 0 8750106 1195860 11683497 DAY SCHOOL - 580 STUDENTS ATTEND CALVERT SCHOOL IN BALTIMORE, MARYLAND. THERE ARE 10 GRADES FROM PRE-KINDERGARTEN THROUGH EIGHTH GRADE. 7115013 320974 7801440 PRIVATE PAY FAMILIES - MAKE INDIVIDUAL DECISIONS TO PURSUE HOME SCHOOLING AND ELECT TO PAY FOR THEIR OWN EDUCATION SERVICES. THEY HAVE ACCESS TO OUR GRADE-LEVEL PLACEMENT TESTING, AND RECEIVE A COMPLETE CURRICULUM INCLUDING LESSON MANUALS, WHICH OUTLINE ALL DAILY WORK, AND THE LIVE TEACHING SUPPORT OF AN EDUCATION COUNSELOR. THEY HAVE THE OPTION OF ENROLLING IN THE ADVISORY TEACHING SERVICE, A TESTING AND ASSESSMENT SERVICE, WHICH ALLOWS THEM TO SUBMIT PERIODIC TESTS AND RECEIVE INFORMED GRADE ASSESSMENT AND COACHING. THIS QUALIFIES THEM TO RECEIVE A TRANSCRIPT AND CERTIFICATE OF COMPLETION. 4372869 5376511 GROUP PARTNERS - RECEIVE THE SAME CALVERT MATERIALS AND SERVICES PROVIDED TO PRIVATE PAY FAMILIES. THE PARTNER SCHOOL RETAINS THE STUDENT ON THEIR ROLLS AND CONTROLS THE RELATED PER-STUDENT FINANCES. IN ADDITION TO THE MATERIALS AND SERVICES RECEIVED BY PRIVATE PAY FAMILIES, CALVERT PROVIDES TECHNOLOGY TO SUPPORT STUDENT SUPERVISION, COMMUNICATIONS, AND ACADEMIC TRACKING. IN ADDITION, CALVERT DEVELOPS SUPPLEMENTAL CURRICULUM TO MEET LOCAL STANDARDS, PROVIDES TEACHER TRAINING, AND PARTICIPATES AS A MEMBER OF THE PROFESSIONAL LEARNING COMMUNITY WHICH PROVIDES STUDENT INSTRUCTION AND SUPPORT. 1028228 1422905 CES - CALVERT PUBLIC VIRTUAL - CALVERT SCHOOL WORKS IN PARTNERSHIP WITH LOCAL VIRTUAL PUBLIC SCHOOLS WHICH ARE SEPARATE 501(C)(3) NONPROFIT CORPORATIONS. CALVERT PROVIDES ALL THE MATERIALS, SERVICES, TECHNOLOGY, PROFESSIONAL DEVELOPMENT, AND PARTICIPATES IN THE PROFESSIONAL LEARNING COMMUNITY IN THE SAME WAY AS IT DOES FOR GROUP PARTNERS. IN ADDITION, CALVERT SCHOOL OFFERS MANAGEMENT SERVICES TO THESE SCHOOLS, WHICH ARE REPORTED AS UNRELATED BUSINESS INCOME. 821349 18311 817553 VERTICY LEARNING IS A SPECIALIZED CURRICULUM OPTION FOR CHILDREN WITH LANGUAGE BASED LEARNING DISABILITIES. IT WAS DEVELOPED THROUGH A JOINT LEARNING INITIATIVE WITH JEMICY SCHOOL, A NOT FOR PROFIT WITH 40 YEARS OF EXPERIENCE IN SUPPORTING THIS PROFILE OF STUDENT IN A CLASSROOM ENVIRONMENT. THE PROGRAM USES THE DISTANCE LEARNING COMPETENCIES OF CALVERT SCHOOL, THE CALVERT CURRICULUM AND SERVICES, AND COMBINES THESE WITH THE SPECIALIZED INSTRUCTION COMPETENCY OF JEMICY. THIS PROGRAM IS USED BY OUR PARTNER SCHOOLS AND OUR PRIVATE PAY FAMILIES AND ENJOYS THE SAME SERVICES AND SOME OF THE SAME MATERIALS. 1849577 18311 2240458 22087565 1 1 0 1 0 1 0 0 1 1 1 0 0 0 1 1 0 1 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 0 0 0 0 0 1 171 1 1 294 1 1 1 1 CJ 0 0 0 0 0 0 0 0 X 19 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X JOSEPH P MCGRAW 4102436054 105 TUSCANY ROAD BALTIMORE MD 21210 CARVILLE B COLLINS 5.00 X X 0 0 0 WILLIAM S HARRISON 2.00 X X 0 0 0 JANET E MCHUGH 2.00 X X 0 0 0 GINA ADAMS 2.00 X 0 0 0 DAVID ALLEN 2.00 X 0 0 0 CURTIS CAMPBELL 2.00 X 0 0 0 H WARD CLASSEN 2.00 X 0 0 0 FRED CROZIER 2.00 X 0 0 0 MARK DEWIRE 2.00 X 0 0 0 WHIT FOSTER 2.00 X 0 0 0 JOSEPH HABERMANN 2.00 X 0 0 0 EDWARD HART 2.00 X 0 0 0 BART HARVEY 2.00 X 0 0 0 PRISCILLA HOBLITZELL 2.00 X 0 0 0 DAVID S KNIPP 2.00 X 0 0 0 LEE H RILEY 2.00 X 0 0 0 AMY SETO 2.00 X 0 0 0 JAMES STRADTNER 2.00 X 0 0 0 MATT WYSKIEL 2.00 X 0 0 0 ANDREW D MARTIRE 40.00 X 305602 0 73406 JOSEPH P MCGRAW 40.00 X 150871 0 54173 JEAN C HALLE 40.00 X 260278 0 47304 STEVEN BROWN 40.00 X 177137 0 52539 IRVING QUIMBY 40.00 X 132193 0 26425 MICHAEL CM WILMETH 40.00 X 106420 0 30598 DAVID CLAPP 40.00 X 119019 0 28294 GLORIA JULIUS 40.00 X 172864 0 10112 R BRADY LOCHER JR 40.00 X 162849 0 46169 1587233 0 369020 13 0 1 0 CHARTWELLS COMPASS GROUP USA PO BOX 91337 CHICAGO IL 60693 FOOD SERVICES 642933 TUSCANY GROUP 323 TUSCANY ROAD BALTIMORE MD 21210 BUSINESS CONSULTING 113327 2 10910 2516068 46913 2526978 SCHOOL TUITION 511190 26436056 25539204 896852 MISC INCOME & FEES 900099 299441 299441 AFTER SCHOOL CARE 611710 243231 243231 SUMMER CAMPS 611710 64403 64403 SCHOOL CLUBS 611710 48000 48000 10775 10775 27101906 968771 -675 969446 9281 9281 9281 9281 5577473 7448 5812358 8214 -234885 -766 -235651 -235651 66125 10910 52332 13793 13793 7450 5200 2250 2250 30387328 26205054 896177 759119 1535145 1535145 1545860 1024882 479215 41763 10254538 6798597 3178907 277034 285472 189263 88496 7713 2748923 1822493 852167 74263 811694 538140 251625 21929 227778 186365 41413 51573 51573 81269 81269 136369 136369 386589 355565 31024 302838 273198 29640 1227392 917114 269445 40833 1408997 1161994 224970 22033 36709 36709 1644888 1644888 143092 139471 3621 53704 21663 32041 352367 352367 1377013 1377013 224955 96583 128372 INCOME TAX EXPENSE 35853 35853 HOME SCHOOL-PRIVATE PAY 4603785 4603785 NEW INITATIVES 726682 726682 STUDENT SERVICES 194755 194755 PROFESSIONAL DEVELOPMEN 117035 24262 92773 230479 63886 86396 80197 30745754 22087565 8011155 647034 1450 1500 4779776 6563096 150131 126862 1720662 1063050 288590 216442 382873 287209 5514921 4373612 455035 405856 41357477 11041002 29699061 30316475 31328631 20748085 4717548 18248048 1940353 1968094 80979031 84318329 7665193 5774994 3714198 2990888 11600000 9034949 22979391 17800831 X 53049797 61007817 921597 1091043 4028246 4418638 57999640 66517498 80979031 84318329 X -358426 8876284 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 128909 128909 30616845 30745754 1000000 250000 0 0 1000000 1000000 1500000 128909 128909 250000 250000 375000 X X 1 1.00 1 1 0 5.00 103 35426952 1557440 7110304 3982654 40112042 33122223 197181 3834995 1727447 35426952 43242907 478323 -7781765 2817242 33122223 0.88980 0.11020 0 0 12087718 12087718 23583604 6520940 17062664 5686155 4520062 1166093 30316475 LIMITED PARTNERSHIPS 4361240 F VANGUARD INDEX TR TOTAL ATK MKT PORTFOLIO INSTL (VITSX) 9094120 F THE WEATHERLOW OFFSHORE FUND I LTD 4792688 F 18248048 30387328 30745754 -358426 6908799 1967485 8876284 8517858 35677711 6908799 52332 6961131 28716580 136369 1534379 1670748 30387328 29127338 52332 52332 29075006 136369 1534379 1670748 30745754 DESCRIPTION OF HOW ORGANIZATION REPORTS CONSERVATION EASEMENTS: PART II, LINE 9: ASSETS ARE RECORDED AT COST AND INCLUDED IN THE VALUE OF LAND ON THE SCHOOL'S BALANCE SHEET. THERE ARE NO REVENUES OR EXPENSES RELATED TO THE EASEMENT. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: TO SUPPORT SPECIFIC PURPOSES IDENTIFIED BY DONORS AND THE OVERALL OPERATION OF THE SCHOOL. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: WHEN TAX RETURNS ARE FILED, IT IS HIGHLY CERTAIN THAT SOME POSITIONS TAKEN WOULD BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, WHILE OTHERS ARE SUBJECT TO UNCERTAINTY ABOUT THE MERITS OF THE POSITION TAKEN OR THE AMOUNT OF THE POSITION THAT WOULD BE ULTIMATELY SUSTAINED. THE BENEFIT OF A TAX POSITION IS RECOGNIZED IN THE FINANCIAL STATEMENTS IN THE PERIOD DURING WHICH, BASED ON ALL AVAILABLE EVIDENCE, MANAGEMENT BELIEVES IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING THE RESOLUTION OF APPEALS OR LITIGATION PROCESSES, IF ANY. TAX POSITIONS TAKEN ARE NOT OFFSET OR AGGREGATED WITH OTHER POSITIONS. TAX POSITIONS THAT MEET THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD ARE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT WITH THE APPLICABLE TAXING AUTHORITY. AS OF JUNE 30, 2011 AND 2010, AND FOR THE YEARS THEN ENDED, THERE ARE NO MATERIAL UNRECOGNIZED/DERECOGNIZED TAX BENEFITS OR TAX PENALTIES OR INTEREST. THE SCHOOL IS NO LONGER SUBJECT TO U.S. FEDERAL AND STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES BEFORE 2007. PART XI, LINE 8 - OTHER ADJUSTMENTS: PENSION RELATED CHANGES 1,967,485. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED ON THE FINANCIAL STATEMENT 52,332. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSES NETTED WITH TUITION ON FINANCIAL STATEMENTS 1,535,145. LOSS ON DISPOSAL NETTED WITH EXPENSES ON FINANCIAL STATEMENTS -766. PART XIII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE NETTED ON THE FINANCIAL STATEMENT 52,332. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSES NETTED WITH TUITION ON FINANCIAL STATEMENTS 1,535,145. LOSS ON DISPOSAL NETTED WITH EXPENSES ON FINANCIAL STATEMENTS -766. 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 NONDISCRIMINATORY POLICY IS PUBLISHED IN SCHOOL BROCHURES, APPLICATIONS FOR ADMISSION AND IN THE LOCAL TRADE NEWSPAPERS AND PERIODICALS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 7069336 0 0 0 0 0 0 7069336 0 7069336 1 0 0 0 0 0 X X X 1 CCS 461 FIFTH AVENUE 3RD FLOOR NEW YORK NY 10017 CAMPAIGN FEASIBILITY STUDY 0 0 81269 -81269 81269 -81269 GOLF TOURNAMENT 27160 10750 16410 1000 5249 11000 8106 CORKS FOR CALVERT 49875 160 49715 5000 4380 17597 77035 10910 66125 6000 5249 15380 25703 52332 13793 1 FINANCIAL AID 138 1535145 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: ALL GRANTS REDUCE THE TUITION BILL OF STUDENTS. NO CASH IS GIVEN DIRECTLY TO STUDENTS. X X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 ANDREW D MARTIRE 239841 0 0 0 65761 0 22268 0 57189 0 385059 0 0 0 JOSEPH P MCGRAW 134872 0 0 0 15999 0 16035 0 41409 0 208315 0 0 0 JEAN C HALLE 244823 0 0 0 15455 0 28866 0 22639 0 311783 0 0 0 STEVEN BROWN 159608 0 0 0 17529 0 39435 0 17409 0 233981 0 0 0 IRVING QUIMBY 131161 0 0 0 1032 0 7987 0 20098 0 160278 0 0 0 GLORIA JULIUS 171832 0 0 0 1032 0 10112 0 2811 0 185787 0 0 0 R BRADY LOCHER JR 161817 0 0 0 1032 0 25131 0 24457 0 212437 0 0 0 PART I, LINE 1A ANDREW MARTIRE, THE HEAD MASTER, RECEIVES THESE BENEFITS. THEY INCLUDE $8,207 OF TAX INDEMNIFICATION AND GROSS UP PAYMENTS THAT ARE INCLUDED IN HIS TAXABLE WAGES, NONTAXABLE SOCIAL CLUB DUES OF $2,205, AND $14,000 IN NONTAXABLE BENEFITS FOR HOUSING AND PERSONAL SERVICES. MARYLAND INDUSTRIAL DEVELOPMENT FINANCING AUTHORITY 526002033 NONEAVAIL 2011-06-01 12200000 TO REFUND 2001 BONDS AND TO FUND CAPITAL IMPROVEMENTS TO THE FACILITIES 0 0 0 12200000 34949 9000000 3165051 1 0 0 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 1 0 0 0 0 ANDREW D MARTIRE DEFERRED COMPENSATION RELATED X 318840 216442 0 1 1 216442 1500 FINANCIAL AID X 15 46913 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 THE SCHOOL'S FINANCIAL MANAGERS AND STAFF PROVIDE THE NECESSARY INFORMATION TO PREPARE THE TAX RETURN. A COMMITTEE OF FOUR BOARD MEMBERS WITH FINANCIAL BACKGROUNDS AND KNOWLEDGE OF THE SCHOOL'S FINANCIAL REPORTING REVIEW A DRAFT OF THE COMPLETED RETURN PRIOR TO FILING THE RETURN. THE ENTIRE BOARD OF TRUSTEES RECEIVES A FULL COPY OF THE RETURN BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD OF TRUSTEE MEMBERS AND TOP MANAGEMENT OFFICIALS ANNUALLY COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT. THE STATEMENT REQUIRES DISCLOSURE OF "ANY MATTER THAT THE BOARD MEMBER BELIEVES MAY INVOLVE A POSSIBLE CONFLICT OF INTEREST AND SHALL THEREAFTER SUPPLEMENT SUCH ANNUAL WRITTEN DISCLOSURE WITH INFORMATION PERTAINING TO CONFLICTS OF INTEREST ARISING AFTER THE ANNUAL DISCLOSURE HAS BEEN FILED." FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL HAS A COMPENSATION COMMITTEE COMPRISED OF TWO BOARD MEMBERS AND A FORMER BOARD MEMBER. THE COMMITTEE MEETS ANNUALLY TO REVIEW THE COMPENSATION OF TOP MANAGEMENT OFFICIALS AND REVIEWS WRITTEN EMPLOYMENT CONTRACTS WHEN RENEWED OR REVISED. AN INDEPENDENT CONSULTANT IS HIRED TO PREPARE A MARKET STUDY REPORT OF COMPENSATION PACKAGES OF COMPARABLE SCHOOL'S MANAGEMENT. THE COMMITTEE REVIEWS THE PERFORMANCE OF MANAGEMENT AND THE INDEPENDENT CONSULTANT'S REPORT. THE COMPENSATION COMMITTEE APPROVES THE COMPENSATION PLANS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 6,908,799. PENSION RELATED CHANGES 1,967,485. TOTAL TO FORM 990, PART XI, LINE 5: 8,876,284. CALVERT EDUCATION SERVICES LLC 105 TUSCANY ROAD BALTIMORE MD 21210 274297066 EDUCATION MD 5294580 8800457 N/A