2011-05-13T10:03:46-05:00 2010-06-30 RSM MCGLADREY INC 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2009-07-01 520635080 BULLIS SCHOOL INC BULL 3012998500 10601 FALLS ROAD POTOMAC MD 20854 todd mccreight 3012998500 2011-05-12 1 Bill Turco 3012963600 2009 2016-02-24 21:20:13Z THOMAS FARQUHAR 10601 FALLS ROAD POTOMAC MD 20854 30863089 0 X WWW.BULLIS.ORG X 1936 MD PROVIDES CO-EDUCATIONAL ELEMENTARY AND SECONDARY EDUCATION TO STUDENTS 19 19 490 178 0 861 921625 1198209 19436880 19329732 -265179 298997 537801 445121 20631127 21272059 2290191 2804491 0 12610108 12613151 35397 770953 6455056 6050863 21355355 21503902 -724228 -231843 44459330 45306191 24244815 24474292 20214515 20831899 Bullis School is an independednt, co-educational college preparatory day school offering girls and boys in grades 3 through 12 an educational program of excellence in a community that values integrity, respect, responsibility, diversity and service. A caring and supportive faculty fosters a positive attitude about learning and challenges its students to achieve their highest potential in academics, the arts and athletics. 0 0 16805640 2804491 19329732 PROVIDES CO-EDUCATIONAL ELEMENTARY AND SECONDARY SCHOOL EDUCATION TO 650 STUDENTS:PROMOTE DIVERSITY AND OFFER AN INDEPENDENT SCHOOL EDUCATION TO ELIGIBLE STUDENTS REGARDLESS OF FINANCIAL ABILITY. 16805640 1 1 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 51 0 1 490 1 1 1 1 CJ EI UK 0 0 0 1 1 0 0 0 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X X MARIA THOMAS 3012998500 10601 FALLS ROAD POTOMAC MD 20854 Kenneth Thompson 2.00 X X 0 0 0 Thomas Sullivan 2.00 X X 0 0 0 Gina Steinway 2.00 X X 0 0 0 Andrew Blair 2.00 X X 0 0 0 Philip O'Donoghue 2.00 X X 0 0 0 Marian Bennett Esq 2.00 X 0 0 0 Holly Funger 2.00 X 0 0 0 Adam Greenberg 2.00 X 0 0 0 Kathryn Hanley 2.00 X 0 0 0 Allan McKelvie 2.00 X 0 0 0 Chris Nordeen 2.00 X 0 0 0 Xiumin Overall 2.00 X 0 0 0 Leroy Pingho 2.00 X 0 0 0 Milton Theo 2.00 X 0 0 0 David Trone 2.00 X 0 0 0 Cyndi Bullis Vasco 2.00 X 0 0 0 Dell Warren 2.00 X 0 0 0 Mark Weinberger 2.00 X 0 0 0 Paula Widerlite 2.00 X 0 0 0 Thomas Farquhar 60.00 X 305474 0 52656 Todd McCreight 50.00 X 156037 0 11211 Martin Berger 40.00 X 113865 0 7378 Bruce Kelley 40.00 X 109422 0 36122 Andrew Delinsky 40.00 X 102514 0 11829 Amy Jones 40.00 X 102184 0 10444 889496 0 129640 6 0 1 0 Pioneer Building Services Inc 9600 Blackwell Road Suite 200 ROCKVILLE MD 20850 Janitorial/Cleaning 312145 Sodexo Inc POBox 536922 ATLANTA GA 303536922 Food services 239671 2 18675 1179534 47182 1198209 TUITION/FEES 900099 18131909 18131909 SUMMER PROGRAMS 900099 1019444 1019444 TRANSPORTATION 900099 121153 121153 auxiliary 900099 50217 50217 STUDENT ACTIVITIES 900099 7009 7009 19329732 424366 424366 260119 260119 260119 260119 8981873 9107242 -125369 -125369 -125369 232898 18675 144165 88733 88733 430823 339623 91200 91200 OTHER income 900099 5069 5069 5069 21272059 19329732 0 744118 2804491 2804491 545976 405125 116249 24602 9835666 7321513 2100875 413278 576172 427531 122678 25963 903644 858476 9450 35718 751693 557771 160050 33872 44510 44510 66679 66679 35397 35397 60250 60250 545809 362328 171883 11598 141158 29052 29362 82744 1027557 603705 408588 15264 908494 816942 91552 25694 24289 1405 93564 93564 942879 834411 108468 1047502 890377 157125 164010 122940 41070 other expenses 354209 179505 137379 37325 DEPARTMENTS 247899 247899 STUDENT PROGRAMS 148295 148295 BAD DEBT 112523 58736 53787 Amortization 43176 36700 6476 76655 65015 11640 21503902 16805640 3927309 770953 31014 34223 9414475 7210485 180317 210340 104760 99948 114408 111749 463471 313848 40785594 17423747 24098367 23361847 6694806 8672891 1756500 3332728 1601212 1958132 44459330 45306191 841994 838761 4532602 5172194 18405000 17945000 161870 212374 303349 305963 24244815 24474292 X 17277352 17926650 306422 224440 2630741 2680809 20214515 20831899 44459330 45306191 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11745669 451349 384093 144165 12436946 13845175 414229 -2377515 136220 11745669 0.78000 0.22000 0 0 587891 679687 1267578 33828758 12053991 21774767 5689258 5369756 319502 23361847 oil and gas partnership 1572 F limited partnerships 3331156 F 3332728 ANNUITIES PAYABLE 26259 funds held for others 279704 305963 21272059 21503902 -231843 849227 849227 617384 19740333 849227 849227 18891106 60250 2320703 2380953 21272059 19122949 483788 483788 18639161 60250 2804491 2864741 21503902 Part V, Line 4: Description of Intended Use of Endowment Funds: Earnings from the unrestricted endowment support the operating expenses of the school; earnings from the restricted endowment support faculty development and financial aid. Part X: Description of Uncertain Tax Positions Under FIN 48: 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% 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. With few exceptions, the School is no longer subject to income tax examinations by the U.S. federal, state or local tax authorities for years before 2007. Part XII, Line 4b - Other Adjustments: FINANCIAL AID: 2804491. GALA - costs: -144165. INVENTORY - COST OF SALES: -339623. Part XIII, Line 2d - Other Adjustments: INVENTORY - COST OF SALES: 339623. GALA - COSTS: 144165. Part XIII, Line 4b - Other Adjustments: FINANCIAL AID: 2804491. 1 1 1 An advertisement was placed in the Washington post newspaper announcing the school's non-discrimination policy. 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 X X X X X X 1 Marts & Lundy fundraising campaign consulting 0 0 35397 -35397 35397 -35397 MD ANNUAL GALA 251573 18675 232898 144165 251573 18675 232898 144165 144165 88733 1 financial aid for tuition 151 2804491 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: All financial aid at Bullis is granted based on demonstrated financial need, offered in order to ensure economic AND RACIAL DIVERSITY IN THE STUDENT BODY, CONSISTENT WITH THE SCHOOL'S ADMISSION POLICIES. SOME OF THE FACTORS CONSIDERED ARE: INCOME (BOTH TAXABLE AND NONTAXABLE), ASSETS,NUMBER OF DEPENDENTS, AGE OF PARENTS AND NUMBER OF CHILDREN ATTENDING TUITION-CHARGING SCHOOLS. X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 Thomas Farquhar 289974 0 0 0 15500 0 19747 0 33170 0 358391 0 0 0 Todd McCreight 156037 0 0 0 0 0 10923 0 549 0 167509 0 0 0 Part I, Line 1a tax indemnification payments are made for Sect 162 Double Bonus for the disability Insurance benefit paid to head of school. the school compensates the headmaster with a package that includes housing, which is necessary to carry out the duties of his job. The housing benefit is treated as non-taxable compensation under code section 119(d). We have disclosed fair rental value as the value of the housing benefit - $24,330 . The entire compensation package, including the housing arrangement was approved by the board of trustees with proper documentation. A house keeping benefit is provided to the head of school. This benefit is related to the use of the housing in the conduct of the headmaster's official duties. X 1 47182 FMV 0 1 0 Form 990, Part VI, Section B, line 11 The Form 990 will be reviewed by the Board Finance Committee, which performs the functions of an audit committee in addition to its other financial responsibilities. RSM McGladrey, the firm that prepares the Form 990 for the School, will make the presentation to the Finance Committee. Once the Finance Committee is satisfied with the Form 990, The Form 990 is sent to the full Board of Trustees for review and for their information Form 990, Part VI, Section B, line 12c Each Board member is required each fall to review the Board conflict of interest policy, and sign a statement that certifies that they understand the policy, agree to comply with the policy, and have no conflicts as described in the policy. If a conflict exists or is perceived, the Board member is required to notify the Board Chair. The Business Officer monitors all transactions between all disqualified persons (which includes all Board members) and the School to ensure that the conflict of interest policy is being fully complied with. If the Business Officer finds a transaction that appears to violate the conflicts policy, he/she notifies the Head of School and Board Chair, who then meet with the disqualified person to investigate the potential conflict and resolve it in a manner that complies with the conflicts policy. Form 990, Part VI, Section B, line 15 For the Head of School: Each time the Board enters into an employment contract with the Head of School (generally every three to five years), an ad hoc Board compensation committee is formed to follow a procedure that is designed to obtain a rebuttable presumption of reasonableness: 1. All Board members chosen for the compensation committee are queried to ensure that no member has a personal interest in the compensation decision. 2. Compensation (salary and benefits) comparability data is obtained for the dozen or so DC-area independent schools that most closely resemble Bullis in enrollment, budget, and assets. The comparability data is obtained from the National Association of Independent Schools and from the Association of Greater Washington Independent Schools. 3. The comparability data is tabulated and compared to the proposed compensation for the head of school. The compensation committee decides whether the proposed compensation is reasonable in light of what comparable schools are currently paying their heads, and makes adjustments to the proposed compensation as necessary to ensure reasonableness and comparability. 4. The compensation committee documents the basis for its determination concurrently with the approval. Documentation includes: terms of the proposed compensation, members of the committee who were present and voted, and the comparability data and how it was obtained. 5. The compensation committee then meets with the head search committee (if one then exists) to present its determination, and the search committee finalizes the offer to the head. 6. The major details of the head contract are then presented to the full Board of Trustees for their information and acceptance. Every few years during a head's contract term, a slightly less formal version of this process is followed to ensure that compensation increases awarded the head under the current contract remain reasonable compared to like schools. For the Business Officer: Whenever a compensation committee is formed to examine the Head's compensation, it uses the same process to examine the Business Officer's compensation, to ensure reasonableness and comparability. Form 990, Part VI, Section C, line 19 The Board has no specific policy on this matter. The School's practice is to share these documents on request with individuals or organizations that have a legitimate business need to see the documents.