2025-03-11T12:17:50-05:00 2024-06-30 205991824 SC&H GROUP INC 910 RIDGEBROOK ROAD SPARKS MD 21152 990 2023-07-01 526001577 MCDONOGH SCHOOL INCORPORATED MCDO 4103630600 8600 MCDONOGH ROAD OWINGS MILLS MD 211171009 SHERRI VOELKEL CHIEF FINANCIAL OFFICER 4103630600 2025-03-09 1 1 LORI S BURGHAUSER P00370694 4104031500 2025-03-09 2023 2025-03-06 01:10:19Z DAVID J FARACE 8600 MCDONOGH ROAD OWINGS MILLS MD 211171009 95995545 0 X WWW.MCDONOGH.ORG X 1873 MD PROVIDE EXCEPTIONAL EDUCATION INSPIRING A PASSION FOR LEARNING, GROWTH & A COMMITMENT TO EXCELLENCE. 30 30 958 300 54252 21146 12558411 9531048 56690768 60294186 5069184 7406036 936364 714894 75254727 77946164 7172926 7601261 0 0 39486112 40790548 17779 23714 4088811 20397591 20857053 67074408 69272576 8180319 8673588 299703214 314923288 61057311 56896393 238645903 258026895 X SITUATED ON A BEAUTIFUL 800-ACRE CAMPUS IN OWINGS MILLS MD, MCDONOGH SCHOOL IS A COEDUCATIONAL, COLLEGE PREPARATORY, INDEPENDENT PREKINDERGARTEN THROUGH 12 SCHOOL WITH AN OPTIONAL FIVE-DAY BOARDING PROGRAM FOR STUDENTS IN GRADES 9-12. MCDONOGH SCHOOL IS A COMMUNITY THAT FINDS JOY IN WORK, IN PLAY, IN DISCOVERY, AND IN THE REALIZATION OF PERSONAL POTENTIAL. STRONG, MUTUALLY RESPECTFUL RELATIONSHIPS INSPIRE A PASSION FOR TEACHING AND LEARNING, A DEDICATION TO PERSONAL INTEGRITY, AND A COMMITMENT TO EXCELLENCE. EMBRACING DIVERSITY OF BACKGROUND, CULTURE, AND THOUGHT, THE SCHOOL BUILDS UPON ITS FOUNDER'S ORIGINAL MISSION TO PROVIDE LIFE-ALTERING OPPORTUNITIES AND TO DEVELOP IN STUDENTS THE WILL "TO DO THE GREATEST POSSIBLE AMOUNT OF GOOD." 0 0 55842844 7601261 60245446 MCDONOGH SCHOOL IS A HIGHLY REGARDED COEDUCATIONAL, INDEPENDENT SCHOOL WITH APPROXIMATELY 1,460 STUDENTS IN PRE-KINDERGARTEN THROUGH TWELFTH GRADE. AN OPTIONAL FIVE-DAY BOARDING PROGRAM IS AVAILABLE FOR STUDENTS IN GRADES 9-12. MCDONOGH'S ACADEMIC PROGRAM IS DESIGNED TO FOSTER A LOVE OF LEARNING. THE LOWER SCHOOL PROVIDES A SOLID FOUNDATION WITH AN EMPHASIS ON READING, WRITING, AND MATHEMATICS. TEACHERS WELCOME CHILDREN AS INDIVIDUALS, TAILORING THE ACADEMIC CURRICULUM TO DEVELOP THEIR FULL POTENTIAL-INTELLECTUALLY, PHYSICALLY, SOCIALLY, AND EMOTIONALLY. THE MIDDLE SCHOOL BUILDS ON THAT FOUNDATION WITH APPRECIATION FOR THE INTELLECTUAL, PHYSICAL, SOCIAL, AND EMOTIONAL NEEDS OF YOUNG ADOLESCENTS. STUDENTS LEARN THE ELEMENTS OF RESPONSIBLE SCHOLARSHIP IN READING, ENGLISH, WORLD LANGUAGES, MATHEMATICS, SCIENCE, SOCIAL STUDIES, AND TECHNOLOGY. THE UPPER SCHOOL COMBINES RIGOROUS ACADEMICS WITH A WIDE VARIETY OF EXTRACURRICULAR ACTIVITIES. IN AN ENVIRONMENT THAT FOSTERS VERSATILITY, STUDENTS SELECT HONORS AND ADVANCED COURSES, DEVELOP THEIR ATHLETIC AND ARTISTIC ABILITIES, LEARN LEADERSHIP AND TEAMWORK SKILLS, AND GRADUATE WELL PREPARED FOR COLLEGE.FORM 990, PART VI, SECTION B, LINE 10A:THE POLICIES DESCRIBED IN PART VI, SECTION B, LINES 10A-16B APPLY TO MCDONOGH SCHOOL, INC. AND ITS AFFILIATE AS LISTED BELOW: FOLIO NETWORK, LLC 55842844 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 169 0 958 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 MD X SHERRI VOELKEL 4103630600 8600 MCDONOGH ROAD OWINGS MILLS MD 211171009 MICHAEL W CUMMINGS PRESIDENT 1.00 0.00 X X 0 0 0 H STACEY BOYER VICE PRESIDENT 1.00 0.00 X X 0 0 0 CURTIS H CORNWELL TREASURER 1.00 0.00 X X 0 0 0 IRVIN DEANDREI DRUMMOND SECRETARY 1.00 0.00 X X 0 0 0 ARTHUR H ADLER MEMBER 1.00 0.00 X 0 0 0 ROBERT A BAVAR MEMBER 1.00 0.00 X 0 0 0 WALLACE E BOSTON JR MEMBER 1.00 0.00 X 0 0 0 DONALD B CHRISTIAN MEMBER 1.00 0.00 X 0 0 0 LEIGH ANN CURL MD MEMBER 1.00 0.00 X 0 0 0 ERIKA SETH DAVIES MEMBER 1.00 0.00 X 0 0 0 BRANDON M ETHERIDGE MEMBER 1.00 0.00 X 0 0 0 MICHAEL S FADER MEMBER 1.00 0.00 X 0 0 0 MICHAEL L FALCONE MEMBER 1.00 0.00 X 0 0 0 KRISTIN F FINKELSTEIN MEMBER 1.00 0.00 X 0 0 0 BRETT INGERMAN MEMBER 1.00 0.00 X 0 0 0 ELIZABETH M INSLEY MEMBER 1.00 0.00 X 0 0 0 JOSHUA P JONES-DILWORTH MEMBER 1.00 0.00 X 0 0 0 HALLIE D LABEL MEMBER 1.00 0.00 X 0 0 0 PAUL M MEURER MEMBER 1.00 0.00 X 0 0 0 FARAH QURESHI NUR MEMBER 1.00 0.00 X 0 0 0 STEVEN S OH MEMBER 1.00 0.00 X 0 0 0 FERNANDA L PIO RODA MEMBER 1.00 0.00 X 0 0 0 PATRICIA B RAKSIN MEMBER 1.00 0.00 X 0 0 0 SUDHIR R RAO MEMBER 1.00 0.00 X 0 0 0 SHAWN W ROBINSON MEMBER 1.00 0.00 X 0 0 0 DAVID D ROTHSCHILD MEMBER 1.00 0.00 X 0 0 0 PATRICIA S SCHUSTER MEMBER 1.00 0.00 X 0 0 0 RICHARD B SILBERSTEIN MEMBER 1.00 0.00 X 0 0 0 TAYMOUR TAMADDON MEMBER 1.00 0.00 X 0 0 0 CRAIG A THOMPSON MEMBER 1.00 0.00 X 0 0 0 DAVID J FARACE HEAD OF SCHOOL 60.00 0.00 X 495341 0 173771 SHERRI VOELKEL CHIEF FINANCIAL OFFICER 50.00 0.00 X 235876 0 49848 KATHRYN MUELLER ASSOCIATE HEAD OF SCHOOL 50.00 0.00 X 244845 0 35530 KERRY JOHNSTON DIRECTOR OF DEVELOPMENT 50.00 0.00 X 182170 0 97252 JACK HARDCASTLE CHIEF OPERATING OFFICER 50.00 0.00 X 169776 0 72357 EUNICE DEEGAN CO-DIRECTOR OF ATHLETICS 50.00 0.00 X 145516 0 21059 MERRITT A LIVERMORE HEAD OF UPPER SCHOOL 50.00 0.00 X 146741 0 104141 J PETER WELCH PE TEACHER 50.00 0.00 X 141644 0 27552 MATTHEW MACMULLAN CO-DIRECTOR OF ATHLETICS 50.00 0.00 X 135932 0 30545 GREGORY WATERS HVAC TECHNICIAN 40.00 0.00 X 130026 0 40617 2027867 0 652672 35 0 1 0 SAGE DINING SERVICES 1402 YORK ROAD 100 LUTHERVILLE MD 21093 FOOD SERVICES 2250204 CAR CONTRACTING INC 11925 MANOR RD GLEN ARM MD 21057 CONTRACTOR 632628 B & D BUILDERS LLC 34 S VINTAGE ROAD PARADISE PA 17562 CONTRACTOR 458344 SERVPRO OF HUNT VALLEY & HARTFORD COUNTY 15 LOVETON CIR SPARKS MD 21152 RESTORATION CONTRACTOR 278106 BARNES PAVING AND TRUCKING INC 6 CHESTNUT HILL ROAD FOREST HILL MD 21050 CONTRACTOR 258265 20 2748 144684 9383616 1289810 9531048 TUITION AND FEES 611710 54632767 54632767 INSTRUCTIONAL CAMPS 611710 2622022 2622022 RIDING PROGRAM/HORSE SHOWS 611710 1183833 1135093 48740 STUDENT SUPPORT 611710 990896 990896 CAMPUS HOUSING 611710 639651 639651 225017 225017 60294186 4282730 5512 4277218 131495 131495 657444 353400 304044 304044 304044 20231764 60238 17168696 0 3063068 60238 3123306 3123306 140374 144684 253163 -112789 -112789 495087 274122 220965 220965 REBATE REVENUE 611710 52272 52272 INSURANCE PROCEEDS 611710 24030 24030 OPERATIONS REBATE 611710 5798 5798 89079 89079 171179 77946164 60245446 54252 8115418 7601261 7601261 1644171 1139606 504565 27791739 24424688 2200192 1166859 1374250 1131163 173900 69187 7900881 6318012 964364 618505 2079507 1689638 280441 109428 179326 8777 170549 120771 120771 23714 23714 157510 157510 125423 125423 155684 87145 68539 317367 213619 78799 24949 776003 75025 700978 4466264 3646153 631849 188262 70840 30867 35555 4418 781723 628483 117833 35407 4912766 3976031 720295 216440 792445 143169 649276 DINING MEALS 2114046 1691452 324950 97644 ACADEMIC SUPPORT AND SU 1161033 1161033 HORSE SHOW AND EQUINE S 838035 836376 1276 383 UBIT TAX EXPENSE 56 56 3887761 2179952 678759 1029050 69272576 55842844 9340921 4088811 5370585 3489262 29991393 33175461 6826831 5944991 2130080 652254 17573 7846 230087 318272 2316618 2190555 174645313 62833367 110962147 111811946 122214023 136129959 11840427 12981269 7803450 8221473 299703214 314923288 2609472 2830907 23008906 22859029 35031221 29958645 407712 1247812 61057311 56896393 X 137924688 144626310 100721215 113400585 238645903 258026895 299703214 314923288 X 8673588 10195595 511809 X X 0 1 X 1 0 X 29353347 12902085 10342859 12558411 9531048 74687750 29353347 12902085 10342859 12558411 9531048 74687750 14172766 60514984 2452141 2094699 1788461 3778919 5066157 15180377 26296 58644 270351 29500 21146 405937 1090595 565025 3503003 810486 806640 6775749 97049813 265982278 0.62350 0.61580 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS SALES OF INVENTORY - 2019 AMOUNT: $ 313,881. 2020 AMOUNT: $ 281,124. 2021 AMOUNT: $ 470,900. 2022 AMOUNT: $ 425,235. 2023 AMOUNT: $ 495,087. MISCELLANEOUS REVENUE - 2019 AMOUNT: $ 187,143. 2020 AMOUNT: $ 174,224. 2021 AMOUNT: $ 86,907. 2022 AMOUNT: $ 37,378. 2023 AMOUNT: $ 94,877. GROSS INCOME FROM FUNDRAISING EVENTS - 2019 AMOUNT: $ 61,850. 2022 AMOUNT: $ 28,750. 2023 AMOUNT: $ 140,374. INSURANCE PROCEEDS - 2019 AMOUNT: $ 527,721. 2020 AMOUNT: $ 109,677. 2021 AMOUNT: $ 2,881,979. 2022 AMOUNT: $ 262,483. 2023 AMOUNT: $ 24,030. REBATE REVENUE - 2021 AMOUNT: $ 63,217. 2022 AMOUNT: $ 56,640. 2023 AMOUNT: $ 52,272. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 614775 X 0 91624147 4410159 11108523 3432016 103710813 84410425 2529292 8499259 3814829 91624147 96462703 2127426 -10536610 3643094 84410425 77389402 1641500 21052589 3620788 96462703 74374252 7023016 -723711 3284155 77389402 0.08520 0.56940 0.34540 0 0 76038 76038 132691320 43911338 88779982 24228524 9189972 15038552 14932879 9732057 5200822 2716552 2716552 111811946 ANNUITIES PAYABLE 485631 CONSTRUCTION FEES PAYABLE 1063626 DEFERRED FINANCING COSTS -301445 1247812 X 77067292 10195595 51543 442736 10689874 66377418 11568746 11568746 77946164 57686300 880685 880685 56805615 12466961 12466961 69272576 PART III, LINE 4: ARTWORK AND ANTIQUES ARE AVAILABLE TO PROVIDE STUDENTS WITH ART EDUCATION ENRICHMENT. PART V, LINE 4: THE SCHOOL'S ENDOWMENTS CONSIST OF VARIOUS FUNDS ESTABLISHED TO SUPPORT A VARIETY OF SCHOLARSHIPS, PROFESSIONAL DEVELOPMENT, FACULTY SALARIES, AND GENERAL OPERATIONS OF THE SCHOOL. PART X, LINE 2: ASC 740, INCOME TAXES, PRESCRIBES A RECOGNITION THRESHOLD AND A MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, AS WELL AS GUIDANCE ON DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES AND FINANCIAL STATEMENT REPORTING DISCLOSURES. FOR THESE BENEFITS TO BE RECOGNIZED, A TAX POSITION MUST BE MORE-LIKELY-THAN NOT TO BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE AMOUNT RECOGNIZED IS MEASURED AS THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN FIFTY PERCENT LIKELY OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE SCHOOL RECOGNIZES INTEREST AND PENALTIES ACCRUED ON ANY UNRECOGNIZED TAX EXPOSURES AS A COMPONENT OF INCOME TAX EXPENSE. THE SCHOOL DOES NOT HAVE ANY AMOUNTS ACCRUED RELATING TO INTEREST AND PENALTIES AS OF JUNE 30, 2024 AND 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF ASSETS HELD IN ANNUITY TRUSTS 442,736. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSE NETTED WITH REVENUE 7,601,171. INVESTMENT EXPENSES NETTED WITH INVESTMENT REVENUE 157,510. COST OF GOODS SOLD -274,122. RENTAL EXPENSES -353,400. CHANGE IN CSV OF LIFE INSURANCE -17,530. EMPLOYEE TUITION REMISSION NETTED WITH REVENUE 4,708,280. SPECIAL EVENT EXPENSES -253,163. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED WITH RENTAL INCOME 353,400. COST OF GOOD SOLD 274,122. SPECIAL EVENT EXPENSES 253,163. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT EXPENSES NETTED WITH INVESTMENT REVENUE 157,510. FINANCIAL AID EXPENSE NETTED WITH REVENUE 7,601,171. EMPLOYEE TUITION REMISSION 4,708,280. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 MCDONOGH SCHOOL HAS PUBLISHED ITS RACIAL NONDISCRIMINATION POLICY IN ALL MEDIA THROUGH WHICH IT ADVERTISES AND ON ITS WEBSITE. CENTRAL AMERICAN AND THE CARIBBEAN 0 0 INVESTMENTS 12576560 ASIA 0 0 PROGRAM STUDENT TRIP 19756 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SOFTWARE SUBSCRIPTION 12236 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SOFTWARE SUBSCRIPTION 880 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM NETWORK MONITORING 4349 0 0 0 0 0 0 12613781 0 12613781 0 0 1 1 0 0 PART I, LINE 3: IN ACCORDANCE WITH IRS INSTRUCTIONS, ALL AMOUNTS REPORTED IN PART I OF SCHEDULE F ARE REPORTED USING THE ACCRUAL BASIS OF ACCOUNTING WHICH IS THE SAME METHOD OF ACCOUNTING USED IN THE FINANCIAL STATEMENTS. X X X X X X 1 PENTERA INC 8650 COMMERCE PARK PLACE SUITE G INDIANAPOLIS IN 46268 PLANNED GIVING MARKETING 0 0 23714 -23714 23714 -23714 MD EAGLEFEST 250586 128712 121874 122590 13302 92218 ALUMNI GOLF EVENT 34472 15972 18500 780 10661 9053 4559 285058 144684 140374 780 10661 131643 13302 96777 253163 -112789 PART I, LINE 2B, COLUMN (V): PENTERA, INC. PLANNED A GIVING MARKETING CAMPAIGN. THEY DID NOT SOLICIT FUNDS ON THE SCHOOL'S BEHALF. 1 SCHOLARSHIP GRANTS AND TUITION SUPPORT 299 7601261 CASH GRANTED NON-EMPLOYEE SCHOLARSHIPS AND FINANCIAL AID PART I, LINE 2: NON-EMPLOYEE SCHOLARSHIPS, FINANCIAL AID AND EMPLOYEE TUITION SUPPORT IS MONITORED THROUGH A THIRD-PARTY BILLING SYSTEM X X 1 1 X X X 0 0 0 0 0 0 0 0 0 DAVID J FARACE HEAD OF SCHOOL 494651 0 0 0 690 0 34467 0 139304 0 669112 0 0 0 SHERRI VOELKEL CHIEF FINANCIAL OFFICER 233896 0 0 0 1980 0 15368 0 34480 0 285724 0 0 0 KATHRYN MUELLER ASSOCIATE HEAD OF SCHOOL 243269 0 0 0 1576 0 15548 0 19982 0 280375 0 0 0 KERRY JOHNSTON DIRECTOR OF DEVELOPMENT 181720 0 0 0 450 0 11842 0 85410 0 279422 0 0 0 MERRITT A LIVERMORE HEAD OF UPPER SCHOOL 146051 0 0 0 690 0 11369 0 92772 0 250882 0 0 0 JACK HARDCASTLE CHIEF OPERATING OFFICER 169476 0 0 0 300 0 12945 0 59412 0 242133 0 0 0 GREGORY WATERS HVAC TECHNICIAN 130026 0 0 0 0 0 7483 0 33134 0 170643 0 0 0 J PETER WELCH PE TEACHER 141059 0 0 0 585 0 9468 0 18084 0 169196 0 0 0 EUNICE DEEGAN CO-DIRECTOR OF ATHLETICS 141843 0 0 0 3673 0 10567 0 10492 0 166575 0 0 0 MATTHEW MACMULLAN CO-DIRECTOR OF ATHLETICS 135293 0 0 0 639 0 10195 0 20350 0 166477 0 0 0 PART I, LINE 1A AS A CONDITION OF EMPLOYMENT, THE FOLLOWING MCDONOGH EMPLOYEES ARE PROVIDED HOUSING FOR THE CONVENIENCE AND BENEFIT OF THE SCHOOL. DAVID J. FARACE, HEAD OF SCHOOL, KATHRYN MUELLER, ASSOCIATE HEAD OF SCHOOL AND MERRITT LIVERMORE, HEAD OF UPPER SCHOOL. THE VALUE OF THE NONTAXABLE HOUSING IS INCLUDED IN NONTAXABLE BENEFITS. AS A NONTAXABLE FRINGE BENEFIT, MEMBERSHIP FEES WERE PAID FOR DAVID J. FARACE, THE HEAD OF SCHOOL, IN THE AMOUNT OF $13,280. A MARYLAND INDUSTRIAL DEVELOPMENT FINANCING AUTHORITY 526002033 574221ND5 2019-02-13 18195034 CAPITAL IMPROVEMENTS; REFUNDING OF SERIES 2013 BONDS; FUND ISSUANCE COSTS 0 0 0 B MARYLAND INDUSTRIAL DEVELOPMENT FINANCING AUTHORITY 526002033 059136BM2 2019-12-05 15290492 TO FINANCE CONSTRUCTION OF THE MIDDLE SCHOOL BUILDING 0 0 0 C MARYLAND INDUSTRIAL DEVELOPMENT FINANCING AUTHORITY 526002033 059136CB5 2021-07-29 18014779 REFUNDING OF THE 2011 BONDS 0 0 0 A 3380000 18219880 332539 9599290 8288051 2019 1 0 1 1 B 12885000 15433644 575775 291211 14566658 2020 0 0 1 1 C 2800000 18014779 3890 305899 17704990 2021 1 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MARYLAND INDUSTRIAL DEVELOPMENT FINANCING AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 02/20/2024 SCHEDULE K, PART II, LINE 3 (BOND A): TOTAL PROCEEDS SHOWN ON PART II, LINE 3 INCLUDE INVESTMENT EARNINGS ON UNSPENT BOND PROCEEDS. SCHEDULE K, PART II, LINE 3 (BOND B): TOTAL PROCEEDS SHOWN ON PART II, LINE 3 INCLUDE INVESTMENT EARNINGS ON UNSPENT BOND PROCEEDS. X 24 1289810 FAIR MARKET VALUE 10 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED AND APPROVED BY THE AUDIT COMMITTEE. AFTER THAT REVIEW, THE FORM 990 IS POSTED ON THE TRUSTEE WEBSITE FOR APPROVAL BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C COPIES OF THE CONFLICT-OF-INTEREST POLICY AND RELATED QUESTIONNAIRE ARE SUBMITTED TO ALL INTERESTED PARTIES AND ALL CURRENT MEMBERS OF THE BOARD OF TRUSTEES TO REVIEW, COMPLETE, AND SIGN. THE QUESTIONNAIRE WHICH DISCLOSES, IF APPLICABLE, ANY POTENTIAL CONFLICTS, IS SUBMITTED TO THE VICE PRESIDENT OF THE BOARD OF TRUSTEES FOR REVIEW. ANY POTENTIAL CONFLICTS ARE RESOLVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. IF A CONFLICT EXISTS, THE INTERESTED PERSON IS PROHIBITED FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISIONS SURROUNDING THE CONFLICTED MATTER. THE CONFLICT-OF-INTEREST POLICY IS ANNUALLY REVIEWED BY THE GOVERNANCE COMMITTEE OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 MCDONOGH SCHOOL MAINTAINS AN EXECUTIVE COMPENSATION POLICY FOR DETERMINING COMPENSATION FOR BOTH OFFICERS AND KEY EMPLOYEES. MCDONOGH SCHOOL USES PEER DATA PROVIDED BY IRS FORM 990 AND DATA PROVIDED BY BOTH AIMS (ASSOCIATION OF INDEPENDENT MARYLAND SCHOOLS) AND NAIS (NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS) FOR COMPARABILITY PURPOSES. THE INDEPENDENT BOARD HIRES AND DETERMINES COMPENSATION OF THE HEAD OF SCHOOL, WHO THEN HIRES AND DETERMINES COMPENSATION OF OTHER TOP MANAGEMENT OFFICIALS, OFFICERS, AND KEY EMPLOYEES. ALL COMPENSATION IS DETERMINED BASED ON PERFORMANCE, COMPARABLE COMPENSATION DATA, AND BUDGETARY GUIDELINES AS APPROVED BY COMMITTEES OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF ASSETS HELD IN ANNUITY TRUSTS 20,800. CHANGE IN VALUE OF ANNUITIES PAYABLE 15,581. CHANGE IN CHARITABLE REMAINDER UNITRUST 406,355. CHANGE IN VALUE OF CASH SURRENDER VALUE 17,530. DONATED SERVICES AND USE OF FACILITIES 51,543. FORM 990, PAGE 12, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FOLIO NETWORK LLC PO BOX 380 OWINGS MILLS MD 21117 275349063 SCHOOL PERFORMANCE APPRAISAL SOFTWARE MD 131495 1650764 MCDONOGH SCHOOL INCORPORATED CHARITABLE REMAINDER UNITRUST (9) PO BOX 380 OWINGS MILLS MD 21117 CHARITABLE REMAINDER UNITRUST MD T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0