2022-11-11T13:41:25-06:00 2022-06-30 570381582 ELLIOTT DAVIS LLCPLLC 500 EAST MOREHEAD STREET SUITE 700 CHARLOTTE NC 28202 990 2021-07-01 620475682 GIRLS PREPARATORY SCHOOL INC GIRL 4236347600 205 ISLAND AVENUE CHATTANOOGA TN 37405 MR MARK VOSSKAMP CFO 4236347600 2022-11-10 1 MR MARK VOSSKAMP 999009999 JANICE A RATICA P00358837 7043338881 2022-11-10 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z MR MARK VOSSKAMP 205 ISLAND AVENUE CHATTANOOGA TN 37405 33772478 0 X WWW.GPS.EDU X 1906 TN TO OPERATE AN ACCREDITED SECONDARY SCHOOL AND TO PROVIDE QUALITY PRIVATE SCHOOL EDUCATION FOR GIRLS IN GRADES SIX THROUGH TWELVE. 24 23 296 250 27766 21360 6230408 2041788 15423110 16356009 1121589 2361985 25752 145249 22800859 20905031 3424481 3685265 0 0 10232024 10171854 0 0 1453776 6295054 7447261 19951559 21304380 2849300 -399349 71567116 62392596 19643902 19349019 51923214 43043577 GIRLS PREPARATORY SCHOOL INSPIRES EACH GIRL TO LEAD A LIFE OF INTEGRITY AND PURPOSE BY ENGAGING HER MIND, CULTIVATING HER STRENGTHS, AND NURTURING HER SELF-CONFIDENCE AND RESPECT FOR OTHERS. 0 0 15601316 3685265 16356009 GIRLS PREPARATORY SCHOOL (GPS) IS AN INDEPENDENT COLLEGE PREPARATORY SCHOOL FOR GRADES SIX THROUGH TWELVE WITH APPROXIMATELY 600 STUDENTS, OF WHICH APPROXIMATELY 40% RECEIVED FINANCIAL ASSISTANCE. GPS INSPIRES EACH GIRL TO LEAD A LIFE OF INTEGRITY AND PURPOSE BY ENGAGING HER MIND, CULTIVATING HER STRENGHTHS, AND NURTURING HER SELF-CONFIDENCE AND RESPECT FOR OTHERS. IT DOES SO BY FOCUSING ON ITS VALUES OF HONOR, RESPECT, CURIOSITY, INDIVIDUALITY, AND RELATIONSHIPS. IN FISCAL YEAR 2022, GPS GRADUATED 77 STUDENTS. 15601316 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 72 0 1 296 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 24 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 TN CA X MARK VOSSKAMP 4236347632 205 ISLAND AVENUE CHATTANOOGA TN 37405 DANNA BAILEY TRUSTEE 1.00 X 0 0 0 CAROLINE CAULKINS BENTLEY TRUSTEE 1.00 X 0 0 0 GLENN BREAZEALE TRUSTEE 1.00 X 0 0 0 CHARLIE BROCK TRUSTEE 1.00 X 0 0 0 R ALLEN COFFMAN JR MD TRUSTEE 1.00 X 0 0 0 MELISSA WODDALL CURTIS TRUSTEE 1.00 X 0 0 0 ASHLEY ROWLAND DAVENPORT TRUSTEE 1.00 X 0 0 0 AIMEE OWINGS HARVEY TRUSTEE 1.00 X 0 0 0 CRAIG HOLLEY TRUSTEE 1.00 X 0 0 0 MARCLYN PORTER TRUSTEE 1.00 X 0 0 0 DORI THORTON WALLER TRUSTEE 1.00 X 0 0 0 JENNIFER KLINE TRUSTEE 1.00 X 0 0 0 JEFF BURNS TRUSTEE 1.00 X 0 0 0 DR LAUREL CARNEY TRUSTEE 1.00 X 0 0 0 ANDREA NOSBUSCH TRUSTEE 1.00 X 0 0 0 DR MARY TANNER TRUSTEE 1.00 X 0 0 0 STACY EISELSTEIN BUILDINGS AND GROUNDS CHAIR 1.00 X 0 0 0 KAREN WELBORN ADVANCEMENT CHAIR 1.00 X 0 0 0 AMY ARROWSMITH SECRETARY 2.00 X 0 0 0 ALLISON COWAN CARROLL AIC COMITTEE CHAIR 2.00 X 0 0 0 BEN VANCE TREASURER FINANCE CHAIR 2.00 X 0 0 0 REBECCA STIMSON PAST BOARD CHAIR 1.00 X X 0 0 0 CLAY WATSON BOARD CHAIR 5.00 X X 0 0 0 AMY THOMAS PAST FINANCE CHAIR 1.00 X X 0 0 0 KERRI MARTIN BARTLETT SECRETARY 2.00 X X 0 0 0 STEPHEN THOMAS ENDOWMENT CHAIR 2.00 X 0 0 0 MEGAN COVER HEAD OF SCHOOL 65.00 X 167017 0 14313 ROBERT WALKER HEAD OF SCHOOL INTERIM 50.00 X 180972 0 14864 MARK VOSSKAMP CFO 48.00 X 157254 0 15605 BILDA MARLEN ACUNA SMALL DIR OF STRATEGIC COMMUNICA 48.00 X 139070 0 13787 JENISE GORDON HEAD OF UPPER SCHOOL 48.00 X 129950 0 12875 LYNNE MACZIEWSKI ASSOCIATE HEAD OF MIDDLE SCHOOL 48.00 X 142021 0 14082 JAMES WATTS ATHLETIC DIRECTOR 48.00 X 121632 0 12043 ALI GANT CHIEF DEVELOPMENT OFFICER 48.00 X 163803 0 16260 1201719 0 113829 8 0 1 0 SAGE DINING SERVICES 1402 YORK ROAD LUTERVILLE MD 21093 FOOD SERVICE 725019 1 160650 9789 1871349 216897 2041788 TUITION AND FEES 611710 14438089 14438089 AUXILIARY PROGRAMS 611710 1797106 1797106 FEE REVENUE 611710 120814 120814 16356009 640593 27766 612827 68781 6545 62236 62236 62236 14475207 12733808 20007 1741399 -20007 1721392 1721392 126591 160650 55696 70895 70895 63509 51391 12118 12118 20905031 16368127 27766 2467350 X 3685265 3685265 343144 171572 85786 85786 7518893 4695182 2254791 568920 531730 314919 170908 45903 1199385 710341 385505 103539 578702 358240 172289 48173 72092 72092 95881 95881 67062 67062 167766 88520 79246 128740 128740 327616 289081 27735 10800 1684555 1384030 216297 84228 117733 45011 40877 31845 459613 224329 91924 143360 337024 276899 43274 16851 1234727 1014452 158539 61736 148096 148096 DINING SERVICES 616923 590790 18666 7467 CLASSROOM/INSTRUCTIONAL 255250 255250 ATHLETICS 242749 242749 TRANSPORTATION 104189 104189 1387245 1110277 111046 165922 21304380 15601316 4249288 1453776 3590895 1682731 62342 43304 461365 655262 87696 74412 302834 309731 56202153 26260109 29571194 29942044 36981330 29241476 509460 443636 71567116 62392596 3717367 3419101 1685597 1823334 12382261 12392928 1858677 1713656 19643902 19349019 X 31564055 26227599 20359159 16815978 51923214 43043577 71567116 62392596 -399349 -8480288 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 25667931 748295 -3786811 2544674 20084741 15251989 6050494 5549551 1184103 25667931 15464071 494163 28620 734865 15251989 15512708 130907 628413 807957 15464071 14707065 815525 653883 663765 15512708 0.18280 0.69290 0.12510 0 0 2591461 2591461 36373732 17865927 18507805 660833 332094 328739 3956420 3303007 653413 12619707 4759081 7860626 29942044 MULTI-STRATEGY HEDGE 992563 F PRIVATE EQUITY FUNDS 2191206 F REAL ESTATE ASSETS 1090962 F FIXED INCOME 3449594 F U.S. EQUITY 1961965 F INTERNATIONAL EQUITY 8294400 F OPPORTUNISTIC 1368521 F GLOBAL HEDGE 6426327 F INDEX FUNDS 2963959 F CASH AND EQUIVALENTS 501979 F 29241476 X 8757231 -8480288 113632 -8366656 17123887 95879 3685265 3781144 20905031 17636868 113632 113632 17523236 95879 3685265 3781144 21304380 PART V, LINE 4: THE SCHOOL'S ENDOWMENT FUNDS ARE TO BE USED TO SUPPLEMENT THE ANNUAL OPERATING BUDGET OF THE SCHOOL, FOR USE IN FINANCIAL AID AWARDS AND DEBT SERVICE. WHERE EXPLICIT DONOR STIPULATIONS ARE IN PLACE FOR PERMANENTLY RESTRICTED ENDOWED FUNDS, THOSE MONIES WILL BE ALLOCATED TO THE AREAS SPECIFICALLY IDENTIFIED BY THE DONOR. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND RELEVANT STATE REGULATIONS. ACCORDINGLY, INCOME TAX EXPENSE IS LIMITED TO ACTIVITIES THAT ARE DEEMED BY THE INTERNAL REVENUE SERVICE TO BE UNRELATED TO THE SCHOOL'S EXEMPT PURPOSE. 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 PROCESS, IF ANY. TAX POSITIONS THAT MEET THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD ARE MEASURED AS THE LARGETS AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT WITH THE APPLICABLE TAX AUTHORITY. AS OF JUNE 30, 2022 AND 2021 THE SCHOOL HAS NOT RECOGNIZED LIABILITIES FOR UNCERTAIN TAX POSITIONS OR ASSOCIATED INTEREST AND PENALTIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES SHOWN NET OF REVENUE 55,696. RENTAL EXPENSES SHOWN NET OF REVENUE 6,545. COST OF INVENTORY SALES SHOWN NET OF REVENUE 51,391. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED AS AN EXPENSE ON 990 3,685,265. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 6,545. FUNDRAISING EXPENSES SHOWN NET OF REVENUE 55,696. COST OF INVENTORY SALES 51,391. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED AS AN EXPENSE ON 990 3,685,265. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL PUBLISHES ITS RACIALLY NONDISCRIMINATORY POLICY IN ALL OF ITS MARKETING MATERIALS. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, INVESTMENTS 7742996 0 0 0 0 0 0 7742996 0 7742996 0 0 1 1 1 0 PART III ACCOUNTING METHOD: AUCTION 287241 160650 126591 55696 287241 160650 126591 55696 55696 70895 1 MERIT SCHOLARSHIPS 2 46071 TUITION CREDIT NEED-BASED FINANCIAL AID 231 3652399 TUITION CREDIT PART I, LINE 2: ALL GRANTS OFFERED BY THE SCHOOL ARE APPLIED AS OFFSETS TO TUITION AND FEES AND THERBY SATISFY ALL REQUIREMENTS TO BE USED FOR PROPER PURPOSES X X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 ROBERT WALKER HEAD OF SCHOOL INTERIM 180972 0 0 0 0 0 14864 0 0 0 195836 0 0 0 MEGAN COVER HEAD OF SCHOOL 153417 0 10000 0 3600 0 14313 0 0 0 181330 0 0 0 ALI GANT CHIEF DEVELOPMENT OFFICER 162603 0 0 0 1200 0 16260 0 0 0 180063 0 0 0 MARK VOSSKAMP CFO 156054 0 0 0 1200 0 15605 0 0 0 172859 0 0 0 LYNNE MACZIEWSKI ASSOCIATE HEAD OF MIDDLE SCHOOL 140821 0 0 0 1200 0 14082 0 0 0 156103 0 0 0 BILDA MARLEN ACUNA SMALL DIR OF STRATEGIC COMMUNICA 137870 0 0 0 1200 0 13787 0 0 0 152857 0 0 0 PART I, LINE 1A AS A PART OF THE HEAD OF SCHOOL'S CONDITIONS OF EMPLOYMENT, SHE IS REQUIRED TO LIVE ON CAMPUS IN A RESIDENCE PROVIDED TO HER BY THE SCHOOL. CERTAIN ADMINISTRATORS HAVE DISCRETIONARY SPENDING ACCOUNTS. THESE ACCOUNTS ARE TO BE USED FOR SCHOOL-RELATED EXPENDITURES AS SEEN FIT BY THE ADMINISTRATOR AND HEAD OF SCHOOL. RELATIVE TO THE RESIDENCE PROVIDED TO THE HEAD OF SCHOOL, THE SCHOOL PROVIDES CERTAIN PERSONAL SERVICES FOR THE MAINTENANCE AND CARE OF THE RESIDENCE, SUCH AS CLEANING, LANDSCAPING, ETC. A HEALTH EDUCATIONAL AND HOUSING FACILITY BOARD OF THE CITY OF CHATTANOOGA 521298872 NONEAVAIL 2015-08-06 10000000 CONSTRUCTION OF SCHOOL BUILDING 0 0 0 B HEALTH EDUCATIONAL AND HOUSING FACILITY BOARD OF THE CITY OF CHATTANOOGA 521298872 NONEAVAIL 2015-08-24 5000000 CONSTRUCTION OF SCHOOL BUILDING 0 0 0 A 500000 10000000 55938 10000000 0 0 1 1 B 500000 5000000 55938 5000000 0 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 1 1 1 SUNTRUST BANK 17.000000000000 0 0 0 0 0 B 1 0 0 SUNTRUST BANK 17.000000000000 0 0 0 0 0 A 0 B 0 X 2096 204797 MARKET VALUE X PROPERTY AND EQUIPMENT 1 12100 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT, INSURANCE, COMPLIANCE, COMMITTEE REVIEWS AND APPROVES THE FULL 990 PRIOR TO FILING. A COMPLETE COPY OF THE 990 IS MADE AVAILABLE TO THE FULL BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF TRUSTEES REQUIRES A CONFLICT OF INTEREST FORM TO BE COMPLETED BY ALL TRUSTEES ON AN ANNUAL BASIS. IN THE EVENT OF A CONFLICT, THE COMMITTEE WILL CONSIDER THE NATURE OF THE CONFLICT, AND IF WARRANTED, THE INDIVIDUAL IS ASKED TO RECUSE HIM/HERSELF FROM DISCUSSION AND VOTING. ALTERNATIVELY, IF THERE IS A POTENTIAL BUSINESS CONFLICT, BOARD OR COMMITTEE CHAIR MAY BE ASKED TO EVALUATE APPROPRIATENESS AND MANDATE CHANGE/DISCONTINUATION OF RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD DOES A TRIENNIAL REVIEW OF THE HEAD'S CONTRACT (HEAD OF SCHOOL ("HOS") IS ON THREE YEAR AGREEMENTS.) EACH CONTRACT INCLUDES ANNUAL PAY ADJUSTMENTS FOR THE TERM OF THE CONTRACT AND AGREED-UPON MEASURES OF PERFORMANCE. DATA EVALUATED COME FROM INDEX, NAIS AND 990 TAX FILINGS OF COMPARABLE SCHOOLS. REVIEW INCLUDES AN EVALUATION OF THE COMPENSATION AT VARIOUS SIMILAR INSTITUTIONS (IN-MARKET COMPARABLES AND OUT-OF-MARKET COMPS ADJUSTED FOR MARKET DYNAMICS), MULTI-YEAR TRENDS IN THE INDUSTRY AND CONSIDERATION OF PERFORMANCE EVALUATION AND WORK EXPERIENCE. FINAL AGREEMENT IS DETERMINED BY TRUSTEES. ALL OTHER EMPLOYEE CONTRACTS, INCLUDING TOP MANAGERS, ARE EVALUATED ON AN ANNUAL BASIS BY THE HEAD OF SCHOOL WITH CONSULTATION OF HR AND CFO. INITIAL COMPENSATION FOR TOP MANAGEMENT IS BASED ON REVIEW OF COMPARABLE COMPENSATION AND IN-MARKET AND OUT-OF-MARKET COMPARABLE SCHOOLS, WHICH PROVIDE A REASONABLE RANGE OF VALUES FOR A POSITION. WITHIN THIS RANGE, CONSIDERATION OF EXPERIENCE AND UNIQUE FACTORS (OF THE POSITION AND/OR OF THE CANDIDATE) ARE CONSIDERED IN NEGOTIATION WITH A CANDIDATE UPON HIRE. ON ANNUAL BASIS, BUDGET AVAILABILITY FOR ALL SALARY INCREASES IS A FIRST CONSIDERATION FOR ALL EMPLOYEES; BASED ON BUDGETED FUNDS AVAILABLE, DISTRIBUTION AMONG INDIVIDUAL EMPLOYEES IS DETERMINED BY SALARY SCALES, EXPERIENCE, PERFORMANCE AND HOS DISCRETION. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST TO THE HEAD OF SCHOOL. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 67,062. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 67,062.