2026-05-12T13:10:54-05:00 2025-06-30 420714325 RSM US LLP 1001 WATER ST STE 500 TAMPA FL 33602 990 2024-07-01 520901098 NORWOOD SCHOOL INC NORW 3013652595 8821 RIVER ROAD BETHESDA MD 20817 MATTHEW A GOULD PHD HEAD OF SCHOOL 3013652595 2026-05-09 1 0 KRISTEN BARNETT P01234578 8133162300 2026-05-09 2024 2025-03-06 01:10:19Z NORWOOD SCHOOL MATTHEW A GOULD PHD 8821 RIVER ROAD BETHESDA MD 20817 57544911 0 X WWW.NORWOODSCHOOL.ORG X 1952 MD NORWOOD SCHOOL'S CHILD-CENTERED PROGRAM INSPIRES CONFIDENT, COMPASSIONATE, INDEPENDENT, AND CREATIVE THINKERS WHO EMBRACE LIFELONG LEARNING. 20 19 217 250 0 0 1671922 1234486 19948664 20845253 1284129 6275776 356567 355808 23261282 28711323 2730326 2742864 0 0 14516380 14820644 0 0 613000 5675397 6485749 22922103 24049257 339179 4662066 70509549 77343970 23396962 29062357 47112587 48281613 X NORWOOD SCHOOL'S CHILD-CENTERED PROGRAM INSPIRES CONFIDENT, COMPASSIONATE, INDEPENDENT, AND CREATIVE THINKERS WHO EMBRACE LIFELONG LEARNING. 0 0 19110597 2742864 20845253 FOUNDED IN 1952, NORWOOD SCHOOL IS A COEDUCATIONAL INDEPENDENT SCHOOL FOR GRADES PK-8. THE SCHOOL'S APPROACH TO INSTRUCTION AND LEARNING BEGINS WITH A TEAM OF TEACHERS WHOSE FIRST PRIORITY IS TO FULLY UNDERSTAND EACH AND EVERY STUDENT. ONLY BY UNDERSTANDING EACH LEARNER CAN WE CREATE "JUST RIGHT" ACADEMIC EXPERIENCES WHERE EVERY CHILD IS STRETCHED BUT NOT STRESSED. OUR FOCUS ON INCLUSION AND RESPECT CREATES A CULTURE WHERE STUDENTS AND TEACHERS ARE GENUINELY INTERESTED IN LEARNING ABOUT ONE ANOTHER AND THE WORLD BEYOND OUR SCHOOL. NORWOOD IS ACCREDITED BY THE ASSOCIATION OF INDEPENDENT MARYLAND SCHOOLS.ALL INCOME AND EXPENSES ARE INCURRED THROUGH THE OPERATION OF AN INDEPENDENT SCHOOL GRADES PK THROUGH 8 WITH 451 STUDENTS. IN ADDITION TO TUITION REVENUE, NORWOOD SCHOOL GENERATES REVENUE THROUGH THE OPERATIONS OF A SUMMER CAMP AND AFTER SCHOOL AUXILIARY PROGRAMS. 19110597 1 1 0 0 0 0 0 0 0 1 1 1 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 1 0 0 0 0 0 0 0 0 0 0 0 0 1 60 0 1 217 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 20 19 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MD X BILL TEACHUM 3013652595 8821 RIVER ROAD BETHESDA MD 20817 GABBY GODDARD BOARD CHAIR 6.00 X X 0 0 0 DEBBIE TANG VICE CHAIR 2.00 X X 0 0 0 JENNIFER SIDES SECRETARY 2.00 X X 0 0 0 DON KOCH TREASURER 2.00 X X 0 0 0 ANAS ABUZAAKOUK TRUSTEE 2.00 X 0 0 0 MARY PAT ALCUS TRUSTEE 2.00 X 0 0 0 TYSON BELLAMY TRUSTEE 2.00 X 0 0 0 ALICIA DAVIS TRUSTEE 2.00 X 0 0 0 EUNNICE EUN TRUSTEE 2.00 X 0 0 0 LEE ANNE JILLINGS TRUSTEE 2.00 X 0 0 0 MARY KWAK TRUSTEE 2.00 X 0 0 0 TOLU LAWRENCE TRUSTEE 2.00 X 0 0 0 AMANDA LEVIN TRUSTEE 2.00 X 0 0 0 JAY SAYKO TRUSTEE 2.00 X 0 0 0 ALEX NEPHEW TRUSTEE 2.00 X 0 0 0 JEN SCHENKER TRUSTEE 2.00 X 0 0 0 ELLEN SPIEGEL TRUSTEE 2.00 X 0 0 0 NATE TYRRELL TRUSTEE 2.00 X 0 0 0 BOB WEIMAN TRUSTEE 2.00 X 0 0 0 JOHN WOO TRUSTEE 2.00 X 0 0 0 MATTHEW A GOULD HEAD OF SCHOOL 50.00 X 531990 0 143631 WILLIAM C TEACHUM DIRECTOR OF FINANCE & OPERATIONS 50.00 X 205994 0 46524 ABIGAIL WILLIAMS DIRECTOR OF DEVELOPMENT 40.00 X 177540 0 8532 MICHAEL RISEN ASSOC. HEAD OF SCHOOL & MIDDLE SCHOOL 40.00 X 171732 0 37472 A FIELDING WINTERS HEAD OF LOWER SCHOOL 40.00 X 141238 0 11770 ALEXANDER RAGONE DIRECTOR OF ADMISSION 40.00 X 140970 0 24761 JUAN RAMIREZ DIRECTOR OF TECHNOLOGY 40.00 X 135998 0 6665 1505462 0 279355 30 0 1 0 TEKTON BUILDERS AND RESTORATION LLC 6916 SOVEREIGN PLACE FREDERICK MD 21703 CONSTRUCTION SERVICES 932112 RIDGEWELLS 5525 DORSEY LANE BETHESDA MD 20816 SCHOOL FOOD SERVICE 506083 RED COATS INC PO BOX 79579 BALTIMORE MD 21279 JANITORIAL SERVICES 425038 3 67400 1167086 9062 1234486 TUITION AND FEES 611110 20845253 20845253 20845253 916441 916441 233698 0 233698 233698 233698 34062250 28710915 -8000 5351335 8000 5359335 5359335 239328 67400 130673 108655 108655 10245 0 10245 10245 OTHER INCOME 900099 3210 3210 3210 28711323 20845253 0 6631584 2742864 2742864 848494 658334 164972 25188 11164709 8649144 2171175 344390 682940 536093 132585 14262 1277985 895534 360619 21832 846516 664497 164341 17678 4886 4886 58254 58254 91986 91986 1469753 1059567 332379 77807 35539 12216 23323 962754 629686 303054 30014 1021101 856313 139508 25280 252350 215340 35870 1140 221919 188826 27253 5840 1572683 1338160 193137 41386 162476 138247 19953 4276 FOOD SERVICE & CATERING 519254 513781 5473 ASSOC DUES & ASSESSMENT 70982 5570 63362 2050 GIFTS & RECOGNITION 21775 6425 13493 1857 BAD DEBT 20037 20037 24049257 19110597 4325660 613000 500 500 6703373 7586404 1009273 415870 3536940 9321345 303429 284701 53460179 21963871 30549958 31496308 28160544 16395777 11555889 245532 287176 70509549 77343970 1612661 2072824 11826264 17264955 9788122 9513019 169915 211559 23396962 29062357 X 28457272 29548790 18655315 18732823 47112587 48281613 70509549 77343970 4662066 -3493040 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22465154 262056 2384240 1022624 76895 24011931 20804411 461288 2272425 997211 75759 22465154 19563635 539597 1650573 877552 71842 20804411 23263656 1216338 -3933153 904815 78391 19563635 17320698 1907118 4672590 572955 63795 23263656 0.24330 0.47100 0.28570 0 0 3728852 3728852 43749997 19545662 24204335 528671 357447 171224 5452659 2060762 3391897 31496308 ISHARES S&P 500 INDEX FUND CLASS G 11555889 F 11555889 DEFERRED COMPENSATION 211559 211559 X 22514106 -3493040 -2742864 -6235904 28750010 91986 -130673 -38687 28711323 21345080 130673 130673 21214407 91986 2742864 2834850 24049257 PART V, LINE 4: ENDOWMENT IS MADE UP OF TWO CATEGORIES: BOARD-DESIGNATED QUASI-ENDOWMENT FUNDS AND DONOR-RESTRICTED ENDOWMENT FUNDS. THE BOARD-DESIGNATED NET ASSETS SERVE AS QUASI-ENDOWMENT FUNDS HELD FOR LONG-TERM PURPOSES. BOARD DESIGNATED NET ASSETS ARE MADE UP OF OUR CHILDREN OUR PURPOSE INVESTMENT FUND, SURPLUS CASH INVESTMENT FUND, JESSICA LEWIS LUSTINE, EDWARD B. MARSH SCHOLARSHIP, ROSA SCOTT FUND FOR THE PERFORMING ARTS AND COMPUTER LEARNING. ALL EARNINGS FOR THE DONOR-RESTRICTED ENDOWMENT ARE REFLECTED AS TEMPORARILY RESTRICTED NET ASSETS UNTIL APPROPRIATED FOR EXPENDITURES BY THE BOARD OF TRUSTEES. PERMANENTLY RESTRICTED NET ASSETS ARE RESTRICTED TO INVESTMENT IN PERPETUITY. INVESTMENT EARNINGS ON THESE AMOUNTS ARE USED TO SUPPORT THE FOLLOWING PROGRAMS: FACULTY SALARIES, FINANCIAL AID, ATHLETIC CENTER, EDUCATIONAL PROGRAMS AND STUDENT ACTIVITIES, OTHER SUPPORT AND FACILITY. PART X, LINE 2: THE SCHOOL IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE). IN ADDITION, THE SCHOOL HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE NOT TO BE A PRIVATE FOUNDATION. INCOME THAT IS NOT RELATED TO EXEMPT PURPOSES, LESS APPLICABLE DEDUCTIONS, IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. DURING THE YEAR ENDED JUNE 30, 2025, THE SCHOOL HAD NO TAXABLE UNRELATED BUSINESS INCOME, AND ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REQUIRED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE SCHOOL FILES INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION AND THE STATE OF MARYLAND. AS OF JUNE 30, 2025, AND FOR THE YEAR THEN ENDED, THERE WERE NO MATERIAL UNRECOGNIZED/DERECOGNIZED TAX BENEFITS OR TAX PENALTIES OR INTEREST. PART XI, LINE 2D - OTHER ADJUSTMENTS: TUITION FOREGONE IN LIEU OF FINANCIAL AID -2,742,864. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES REPORTED ON LINE 8B, PART VIII -130,673. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES REPORTED ON LINE 8B, PART VIII 130,673. PART XII, LINE 4B - OTHER ADJUSTMENTS: TUITION FOREGONE IN LIEU OF FINANCIAL AID 2,742,864. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 AN ANNOUNCEMENT IS PRINTED IN THE WASHINGTON POST NEWSPAPER. ANNUAL BENEFIT AUCTION 306728 67400 239328 6786 73616 3500 46771 306728 67400 239328 6786 73616 3500 46771 130673 108655 1 FINANCIAL AID - TUITION 100 2587814 FINANCIAL AID - AFTERCARE 44 58810 OTHER FINANCIAL ASSISTANCE - EDUCATIONAL SUPPORT 16 71554 FINANCIAL AID - TRANSPORTATION 17 15172 FINANCIAL ASSISTANCE - SIEVER'S FUND 9 9514 PART I, LINE 2: FAMILIES ARE REQUIRED TO FILL OUT A CLARITY FINANCIAL AID APPLICATION FOR EACH CHILD THEY ARE REQUESTING FINANCIAL ASSISTANCE FOR. THROUGH THE USE OF THIS FORM FAMILIES DISCLOSE ALL OF THEIR FINANCIAL INFORMATION AND INDICATE WHAT AMOUNT OF TUITION AND FEES THEY FEEL THEY ARE ABLE TO PAY. THIS FORM IS SUBMITTED DIRECTLY TO CLARITY FINANCIAL AID. AFTER RECEIVING THE FAMILY'S APPLICATION FORM, CLARITY FINANCIAL AID CALCULATES, FOR EACH CHILD, THE FAMILY'S ABILITY TO PAY BASED ON THE NUMBERS PROVIDED. THIS RESULT IS SENT TO THE SCHOOL'S FINANCIAL AID COMMITTEE. THE COMMITTEE USES THIS FORM AS WELL AS THE FAMILY'S TAX RETURN TO DETERMINE AN APPROPRIATE FINANCIAL AID AWARD TO OFFER THE FAMILY. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 MATTHEW A GOULD HEAD OF SCHOOL 508732 0 0 0 23258 0 27859 0 115772 0 675621 0 0 0 WILLIAM C TEACHUM DIRECTOR OF FINANCE & OPERATIONS 205598 0 0 0 396 0 16612 0 29912 0 252518 0 0 0 MICHAEL RISEN ASSOC. HEAD OF SCHOOL & MIDDLE SCHOO 171642 0 0 0 90 0 13620 0 23852 0 209204 0 0 0 ABIGAIL WILLIAMS DIRECTOR OF DEVELOPMENT 177450 0 0 0 90 0 7998 0 534 0 186072 0 0 0 ALEXANDER RAGONE DIRECTOR OF ADMISSION 140832 0 0 0 138 0 8862 0 15899 0 165731 0 0 0 A FIELDING WINTERS HEAD OF LOWER SCHOOL 141100 0 0 0 138 0 11288 0 482 0 153008 0 0 0 PART I, LINE 1A MATTHEW A. GOULD, HEAD OF SCHOOL RECEIVED A NON-TAXABLE HOUSING BENEFIT IN THE AMOUNT OF $92,768. A MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY 520936091 2021-02-17 10500000 TO CONSTRUCT EARLY CHILDHOOD CENTER 0 0 0 A 855000 10500000 5351965 5148035 2022 0 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 1 0 0 1 0 0 0 1 A 1 36121 FINANCIAL AID TUITION FORM 990, PART VI, SECTION A, LINE 4 MS. TANG, VICE CHAIR, ON BEHALF OF THE COMMITTEE ON TRUSTEES, PRESENTED THE FOLLOWING PROPOSED CHANGE TO THE BYLAWS REGARDING THE CHAIR'S TERM, ARTICLE VIII - OFFICERS. (2) THE CHAIR'S TERM CAN BE EXTENDED BY ONE YEAR OR TWO YEARS UPON THE MUTUAL AGREEMENT OF THE CHAIR, THE HEAD OF SCHOOL, AND A MAJORITY VOTE OF THE COMMITTEE ON TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE COMPLETE 990 WILL BE REVIEWED WITH THE AUDIT COMMITTEE, WHICH IS COMPRISED OF MEMBERS OF THE BOARD OF TRUSTEES AS WELL AS NON BOARD MEMBERS. IT WILL THEN BE PRESENTED TO THE FULL BOARD OF TRUSTEES. THE SCHEDULE B INFORMATION WILL BE DISTRIBUTED TO THE FULL BOARD OF TRUSTEES WITH THE EXCEPTION OF THE NAMES OF THE DONORS WHO REQUESTED ANONYMITY. THOSE NAMES WILL BE MADE AVAILABLE TO THE TRUSTEES UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS PRESENTED TO EACH INCOMING BOARD OF TRUSTEE MEMBER AT THE BEGINNING OF EACH TERM. IT IS ALSO INCLUDED IN THE ANNUAL TRUSTEE PACKET ALONG WITH THE CONFIDENTIALITY AGREEMENT. EACH BOARD MEMBER IS ASKED TO READ THOROUGHLY AND ACKNOWLEDGE THAT THEY UNDERSTAND AND WILL ABIDE BY THE POLICIES. ANY POTENTIAL CONFLICTS ARE TO BE IDENTIFIED BY EACH MEMBER OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE HEAD OF SCHOOL IS DETERMINED EACH YEAR BY THE COMPENSATION COMMITTEE WHICH IS MADE UP FROM MEMBERS OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THEY USE PERFORMANCE REVIEWS AS WELL AS DATA FROM AREA INDEPENDENT SCHOOL MEMBER ORGANIZATIONS SUCH AS AISGW AND AIMS TO COMPARE OTHER HEAD OF SCHOOL SALARIES. A FULL COMPENSATION STUDY BY AN OUTSIDE CONSULTANT IS DONE PERIODICALLY. THE COMPENSATION OF KEY EMPLOYEES AND OTHER OFFICERS OF THE SCHOOL ARE DETERMINED BY THE HEAD OF SCHOOL. PERFORMANCE REVIEWS AS WELL AS DATA FROM AREA INDEPENDENT SCHOOL MEMBER ORGANIZATIONS SUCH AS AISGW AND AIMS ARE USED TO COMPARE THOSE SALARIES TO OTHER SCHOOLS. 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 FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D).