2022-04-22T09:49:17-05:00 2021-06-30 221478099 COHNREZNICK LLP 7501 WISCONSIN AVENUE SUITE 400E BETHESDA MD 20814 990 2020-07-01 530211355 MARET SCHOOL INC MARE 2029398800 3000 CATHEDRAL AVENUE NW WASHINGTON DC 200083407 WILLIS HOLLOWAY III DIRECTOR-FINANCE & OPERATIONS 2029398800 2022-04-21 1 WILLIS HOLLOWAY III 999009999 LORI ROTHE YOKOBOSKY CPA P01273422 3016529100 2022-03-23 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z MARJO TALBOTT 3000 CATHEDRAL AVENUE NW WASHINGTON DC 200083407 33955787 0 X WWW.MARET.ORG X 1937 DC MARET IS A VIBRANT K-12, CO-EDUCATIONAL, INDEPENDENT SCHOOL IN WASHINGTON, DC. WE IGNITE OUR STUDENTS' POTENTIAL AND FOSTER THEIR ACADEMIC, ARTISTIC, AND ATHLETIC TALENTS. 25 25 174 400 0 0 3618830 4851549 26537510 26795493 1297795 925907 586342 299426 32040477 32872375 4515147 5094464 0 0 17250569 17265362 0 0 743600 9035088 9385063 30800804 31744889 1239673 1127486 85100962 98243426 24157549 26317068 60943413 71926358 X SEE SCHEDULE O 0 0 24483359 5094464 26795493 PROVIDE EDUCATION TO APPROXIMATELY 650 STUDENTS, FROM KINDERGARTEN THROUGH GRADE TWELVE. 24483359 1 1 0 0 0 0 0 0 1 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 1 0 0 0 1 0 0 0 0 0 0 0 0 1 X 217 0 1 174 1 0 0 0 0 0 0 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X WILLIS HOLLOWAY III 2029398800 3000 CATHEDRAL AVE NW WASHINGTON DC 20008 AAKASH THAKKAR TRUSTEE 2.00 X 0 0 0 ALAN ADLER TRUSTEE 2.00 X 0 0 0 ALEXIS SANT TRUSTEE 2.00 X 0 0 0 BETH WILKINSON TRUSTEE 2.00 X 0 0 0 COLIN STRETCH TRUSTEE 2.00 X 0 0 0 DANIEL HARTMAN TRUSTEE 2.00 X 0 0 0 DAVID BURTON TRUSTEE 2.00 X 0 0 0 DAVID HALL TRUSTEE 2.00 X 0 0 0 ESMA AKIN TRUSTEE 2.00 X 0 0 0 IAN CAMERON PRESIDENT 2.00 X X 0 0 0 LARRY SIEGEL TRUSTEE 2.00 X 0 0 0 LEIGH COMAS VICE PRESIDENT 2.00 X X 0 0 0 MAI ABDO TRUSTEE 2.00 X 0 0 0 MARC LAMPKIN TRUSTEE 2.00 X 0 0 0 MARGARET JOHNSON TRUSTEE 2.00 X 0 0 0 MICHAEL KIRSHBAUM SECRETARY 2.00 X X 0 0 0 RACHEL MOORE WELLER TRUSTEE 2.00 X 0 0 0 STEVE FARINA TRUSTEE 2.00 X 0 0 0 SUZANNE GEORGE TRUSTEE 2.00 X 0 0 0 SYLVIA WHITE TRUSTEE 2.00 X 0 0 0 TED STETTINIUS TRUSTEE 2.00 X 0 0 0 TRAVIS ALLEN TREASURER 2.00 X X 0 0 0 TRICIA PRIMROSE WALLACE TRUSTEE 2.00 X 0 0 0 VADIM NIKITINE TRUSTEE 2.00 X 0 0 0 VICTORIA WASSMER TRUSTEE 2.00 X 0 0 0 MARY JOSEPHINE TALBOTT HEAD OF SCHOOL 50.00 X 548178 0 121503 WILLIS HOLLOWAY ASST HEAD: FINANCE & OPS 50.00 X 157303 0 21177 SALLY DUNKELBERGER DIRECTOR OF DEVELOPMENT 50.00 X 218490 0 38440 ANNIE FARQUHAR DIRECTOR OF ADMISSIONS 50.00 X 165550 0 34236 JAIME ESTRADA LANGUAGE DEPT. CHAIR 50.00 X 158427 0 29933 MARIA LOPEZ ASSIST. HEAD: ACADEMIC AFF 50.00 X 164144 0 20286 STEVEN TEJADA DIRECTOR OF UPPER SCHOOL 50.00 X 195582 0 35471 SUSAN EPPS ASSIST. HEAD: FACULTY DEV. 50.00 X 206274 0 23945 1813948 0 324991 8 0 1 0 GTR TURF INC 92 LE WAY DRIVE FREDERICKBURG VA 22406 CONSTRUCTION 806116 RIDGEWELLS CATERING INC 5525 DORSEY LANE BETHESDA MD 20816 FOOD SERVICES 628161 MCDONALD CLEANING SYSTEMS INC 2121 WISCONSIN AVE NW WASHINGTON DC 20007 CLEANING SERVICES 485971 ARMFIELD HARRISON & THOMAS INC 20 SOUTH KING STREET LEESBURG VA 20175 CONSULTING SERVICES 209932 KATZ MARSHALL & BANKS LLP 1718 CONNECTICUT AVE NW STE 6 WASHINGTON DC 20009 LEGAL SERVICES 208150 8 877430 3974119 1187823 4851549 TUITION AND FEES 900099 26375312 26375312 SUMMER PROGRAMS 900099 419842 419842 STUDENT ACTIVITIES 900099 339 339 26795493 815192 815192 108193 0 108193 108193 108193 983315 200 872800 0 110515 200 110715 110715 223758 877430 210612 13146 13146 OTHER INCOME 900099 178087 178087 178087 32872375 26795493 0 1225333 5094464 5094464 1134895 870689 227334 36872 13052033 10013493 2614487 424053 995798 763974 199471 32353 1061204 814155 212572 34477 1021432 783640 204606 33186 215121 215121 49036 49036 221133 221133 513945 249212 244263 20470 7496 7496 351706 106468 205102 40136 461865 358035 100002 3828 384176 344606 36112 3458 14466 12976 1360 130 22844 15537 7282 25 405628 225435 161730 18463 2244221 2014533 209618 20070 206597 206597 ADMINISTRATIVE EXPENSES 1825701 605542 1157072 63087 BUILDING & GROUNDS MAIN 1443571 1294883 135696 12992 SCHOOL DEPARTMENT EXPEN 850356 850356 PAID FAMILY LEAVE TAXES 86995 86995 80206 65361 14845 31744889 24483359 6517930 743600 8580133 11029375 524589 732445 313909 584256 456721 516095 61448880 30830790 32126378 30618090 43099232 54763165 85100962 98243426 545588 1336854 8972120 10169832 13976148 13990392 130746 76299 532947 743691 24157549 26317068 X 35832815 42983977 25110598 28942381 60943413 71926358 85100962 98243426 1127486 9855459 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 22578959 22015 5299794 1087759 26813009 22605726 243798 401744 672309 22578959 21875787 412814 939020 621895 22605726 21451212 55416 936647 567488 21875787 20008466 116881 2007132 681267 21451212 0.00000 0.64761 0.35239 0 0 126082 126082 56484775 26858691 29626084 4026294 3321697 704597 811729 650402 161327 30618090 OTHER PROGRAM LIABILITIES 50000 DEFERRED COMPENSATION 693691 743691 X 37622649 4760995 4760995 32861654 221133 -210412 10721 32872375 26639704 210412 210412 26429292 221133 5094464 5315597 31744889 PART IV, LINE 2B: FOR THEIR CONVENIENCE, MARET MAINTAINS SEPARATE ACCOUNTS FOR FUNDS RELATED TO VARIOUS STUDENT GROUPS, STUDENT ACTIVITIES, AND OTHER SCHOOL-RELATED PROJECTS. ALL OF THESE FUNDS ARE ENTIRELY CONTROLLED BY THE RESPECTIVE SCHOOL-RELATED GROUPS. PART V, LINE 4: THE SCHOOL MAINTAINS MULTIPLE ENDOWMENT FUNDS DESIGNATED TO ACHIEVE A BROAD RANGE OF GOALS FOR FACULTY AND STUDENTS, AS WELL AS PROGRAM-DIRECTED ENDEAVORS. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"), EXCEPT FOR UNRELATED BUSINESS INCOME, AS DEFINED BY THE IRC. THE SCHOOL HAD UNRELATED BUSINESS INCOME IN A PRIOR YEAR. DURING THE YEAR ENDED JUNE 30, 2020, THE SCHOOL RECEIVED A TAX REFUND OF $2,147. THE SCHOOL DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEAR ENDED JUNE 30, 2020 AND DID NOT MAKE ANY ESTIMATED PAYMENTS. ACCORDINGLY, THESE STATEMENTS DO REFLECT A PROVISION FOR INCOME TAXES FOR THE YEAR ENDED JUNE 30, 2021 AND 2020. THE SCHOOL IS REQUIRED TO FILE, AND DOES FILE, TAX RETURNS WITH THE INTERNAL REVENUE SERVICE ("IRS") AND OTHER TAXING AUTHORITIES. TAX RETURNS FILED BY THE SCHOOL ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2018 REMAIN OPEN. THE SCHOOL HAS ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN INCOME TAX POSITIONS. DURING THE YEARS ENDED JUNE 30, 2021 AND 2020, THE SCHOOL DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID TO STUDENTS -5,094,464. UNREALIZED GAIN ON SWAP AGREEMENT 9,855,459. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -210,612. GAIN INCLUDED WITH EXPENSES ON AUDITED FINANCIAL STATEMENTS 200. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 210,612. GAIN INCLUDED WITH EXPENSES ON AUDITED FINANCIAL STATEMENTS -200. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID TO STUDENTS 5,094,464. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHOOL'S NONDISCRIMINATORY POLICY - SCHEDULE E, PART I, LINE 3 THE SCHOOL'S RACIALLY NONDISCRIMINATORY POLICY IS PUBLISHED IN THE WASHINGTON POST ON A PERIODIC BASIS. AUCTION 1101188 877430 223758 64196 8649 137767 1101188 877430 223758 64196 8649 137767 210612 13146 1 FINANCIAL AID 177 5094464 MONITORING THE USE OF GRANT FUNDS - PART I, LINE 2 THE FINANCIAL AID GRANTS ARE APPLIED AS FOLLOWS: $4,909,186 TO TUITION ASSISTANCE AND $185,278 TO SPECIAL AID FOR STUDENT ACTIVITIES AND RESOURCES. TUITION ASSISTANCE IS GRANTED TO STUDENTS ON A NEED BASIS. IN ORDER TO ESTABLISH FINANCIAL NEED, AN ONLINE APPLICATION FORM IS SUBMITTED FOR REVIEW BY MANAGEMENT AND AWARDED TO STUDENTS ON AN OBJECTIVE BASIS. ONCE AWARDED, THE FUNDS ARE CREDITED TO THE STUDENT'S ACCOUNT. THE SPECIAL AID IS REVIEWED AND APPROVED BY THE DIRECTOR OF FINANCIAL AID ON A CASE-BY-CASE BASIS. X X 1 1 X X X X 0 1 0 0 0 0 0 0 0 MARY JOSEPHINE TALBOTT HEAD OF SCHOOL 503178 0 0 0 45000 0 107907 0 13596 0 669681 0 0 0 SALLY DUNKELBERGER DIRECTOR OF DEVELOPMENT 218490 0 0 0 0 0 18045 0 20395 0 256930 0 0 0 STEVEN TEJADA DIRECTOR OF UPPER SCHOOL 195582 0 0 0 0 0 15076 0 20395 0 231053 0 0 0 SUSAN EPPS ASSIST. HEAD: FACULTY DEV. 206274 0 0 0 0 0 16939 0 7006 0 230219 0 0 0 ANNIE FARQUHAR DIRECTOR OF ADMISSIONS 165550 0 0 0 0 0 13841 0 20395 0 199786 0 0 0 JAIME ESTRADA LANGUAGE DEPT. CHAIR 158427 0 0 0 0 0 13125 0 16808 0 188360 0 0 0 MARIA LOPEZ ASSIST. HEAD: ACADEMIC AFF 164144 0 0 0 0 0 13280 0 7006 0 184430 0 0 0 WILLIS HOLLOWAY ASST HEAD: FINANCE & OPS 157303 0 0 0 0 0 8950 0 12227 0 178480 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL RECEIVED A HOUSING ALLOWANCE AND PERSONAL SERVICES, WHICH INCLUDED HOUSE CLEANING AND LAWN CARE. THE ALLOWANCE WAS INCLUDED AS TAXABLE INCOME AND IS REPORTED IN PART II COL B(III). PART I, LINE 4B THE HEAD OF SCHOOL PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN (SECTION 457F). THE SCHOOL MADE A CONTRIBUTION OF $85,507 ON BEHALF OF THE HEAD OF SCHOOL INTO THIS PLAN IN 2020. A DISTRICT OF COLUMBIA 536001131 2548394P5 2009-10-07 17335000 REFINANCE TAX EXEMPT BONDS 0 0 0 A 3177000 17335000 17335000 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 1 1 0 0 0 0 A 0 SCHEDULE K, PART IV, LINE 2C REBATE COMPUTATION DATE: THE REBATE COMPUTATION CALCULATION WAS LAST PERFORMED ON NOVEMBER 21, 2018, SHOWING NO AMOUNT DUE. 102745 FINANCIAL AID TUITION ASSISTANCE X 16 1187823 FMV 0 0 0 PART I, COLUMN (B): THE AMOUNTS SHOWN IN PART I, COLUMN B, REPRESENT THE NUMBER OF CONTRIBUTIONS. FORM 990, PART I, LINE 1: MARET SCHOOL IS A VIBRANT K-12, CO-EDUCATIONAL, INDEPENDENT SCHOOL IN WASHINGTON, DC. WE IGNITE OUR STUDENTS' POTENTIAL AND FOSTER THEIR ACADEMIC, ARTISTIC, AND ATHLETIC TALENTS. WE DEVELOP THE MIND, NURTURE CURIOSITY, WELCOME CHALLENGE, EMBRACE JOY, AND BUILD COMMUNITY THAT IS EQUITABLE AND INCLUSIVE. FORM 990, PART V, LINE 2A: NUMBER OF EMPLOYEES FOR CALENDAR YEAR 2020 - THE TOTAL NUMBER OF EMPLOYEES REPORTED ON LINE 2A OF PART V OF FORM 990 REPRESENTS THE TOTAL NUMBER OF EMPLOYEES FOR THE ENTIRETY OF CALENDAR YEAR 2020, NOT THE TOTAL AT ONE TIME DURING THAT YEAR. MOREOVER, THE NUMBER VARIES DURING THE DAY, AS IT IS COMPRISED OF ADMINISTRATIVE AND FACULTY PERSONNEL WHO ARE PRESENT DURING ACADEMIC HOURS AND OTHER PERSONNEL ENGAGED IN AFTER-SCHOOL ACTIVITIES. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING THE FORM 990, AN ELECTRONIC COPY OF THE FORM 990 IS PROVIDED TO EACH BOARD TRUSTEE FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C EACH BOARD TRUSTEE SIGNS A CONFLICT OF INTEREST POLICY STATEMENT ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 DURING THE FIRST QUARTER OF 2013, A COMPENSATION COMMITTEE WHOSE MEMBERSHIP INCLUDED THE PRESIDENT, VICE PRESIDENT, AND TREASURER, HIRED AN INDEPENDENT COMPENSATION CONSULTANT WHO SURVEYED 25+ COMPARABLE SCHOOLS AND USED THAT DATA IN DETERMINING THE APPROPRIATE COMPENSATION FOR THE HEAD. A COMPENSATION STUDY WAS PERFORMED DURING THE CURRENT FISCAL YEAR IN WHICH THE SCHOOL COMPARED HEAD OF SCHOOL COMPENSATION FOR SCHOOLS SIMILAR IN SIZE AND IN NEARBY PROXIMITY TO DETERMINE AMOUNTS FOR THE HEAD'S COMPENSATION IN HER CONTRACT. THE KEY EMPLOYEE AND HIGHEST COMPENSATED EMPLOYEES' SALARIES ARE COMPARED TO THOSE AT COMPARABLE SCHOOLS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.