2021-05-17T13:49:49-05:00 2020-06-30 221478099 COHNREZNICK LLP 7501 WISCONSIN AVENUE SUITE 400E BETHESDA MD 20814 990 2019-07-01 530211355 MARET SCHOOL INC MARE 2029398800 3000 CATHEDRAL AVENUE NW WASHINGTON DC 200083407 WILLIS HOLLOWAY III DIRECTOR-FINANCE & OPERATIONS 2029398800 2021-05-17 1 GLENN M SHELTON P00228007 3016529100 2021-05-17 2019 2022-09-23 18:48:47Z MARJO TALBOTT 3000 CATHEDRAL AVENUE NW WASHINGTON DC 200083407 37611479 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 25 174 375 0 0 3554669 3618830 25074466 26537510 1208251 1297795 396631 586342 30234017 32040477 4418860 4515147 0 0 16870890 17250569 0 0 779994 9597247 9035088 30886997 30800804 -652980 1239673 84819101 85100962 24830090 24157549 59989011 60943413 X SEE SCHEDULE O 0 0 24309418 4515147 26537510 PROVIDE EDUCATION TO APPROXIMATELY 650 STUDENTS, FROM KINDERGARTEN THROUGH GRADE TWELVE. 24309418 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 227 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 X IAN CAMERON PRESIDENT 2.00 X X 0 0 0 LEIGH COMAS VICE PRESIDENT 2.00 X X 0 0 0 MICHAEL KIRSHBAUM TREASURER 2.00 X X 0 0 0 TRAVIS ALLEN SECRETARY 2.00 X X 0 0 0 MAI ABDO TRUSTEE 2.00 X 0 0 0 ALAN ADLER TRUSTEE 2.00 X 0 0 0 ESMA AKIN TRUSTEE 2.00 X 0 0 0 DAVID BURTON 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 DAVID HALL TRUSTEE 2.00 X 0 0 0 DANIEL HARTMAN TRUSTEE 2.00 X 0 0 0 MARGARET JOHNSON TRUSTEE 2.00 X 0 0 0 MARC LAMPKIN TRUSTEE 2.00 X 0 0 0 VADIM NIKITINE TRUSTEE 2.00 X 0 0 0 LEX SANT TRUSTEE 2.00 X 0 0 0 LARRY SIEGEL TRUSTEE 2.00 X 0 0 0 TED STETTINIUS TRUSTEE 2.00 X 0 0 0 COLIN STRETCH TRUSTEE 2.00 X 0 0 0 AAKASH THAKKAR TRUSTEE 2.00 X 0 0 0 TRICIA PRIMROSE WALLACE TRUSTEE 2.00 X 0 0 0 VICTORIA WASSMER TRUSTEE 2.00 X 0 0 0 RACHEL MOORE WELLER TRUSTEE 2.00 X 0 0 0 SYLVIA WHITE TRUSTEE 2.00 X 0 0 0 TOM MONAHAN TRUSTEE 2.00 X 0 0 0 MARY JOSEPHINE TALBOTT HEAD OF SCHOOL 50.00 X 553510 0 110161 WILLIAM HODGETTS ASSIST. HEAD: FINANCE 50.00 X 277164 0 44692 WILLIS HOLLOWAY III DIRECTOR - FINANCE & OPERATIONS 50.00 X 0 0 0 SALLY DUNKELBERGER DIRECTOR OF DEVELOPMENT 50.00 X 212997 0 39535 STEVEN TEJADA DIRECTOR OF UPPER SCHOOL 50.00 X 190395 0 69522 SUSAN EPPS ASSIST. HEAD: FACULTY DEV. 50.00 X 185487 0 17518 ANNIE FARQUHAR DIRECTOR OF ADMISSIONS 50.00 X 160923 0 35454 JAIME ESTRADA LANGUAGE DEPT. CHAIR 50.00 X 153892 0 98867 MARIA LOPEZ ASSIST. HEAD: ACADEMIC AFFAIRS 50.00 X 156734 0 20019 1891102 0 435768 22 0 1 0 RIDGEWELLS CATERING INC 5525 DORSEY LANE BETHESDA MD 20816 FOOD SERVICES 956644 MCDONALD CLEANING SYSTEMS INC 2121 WISCONSIN AVE NW WASHINGTON DC 20007 CLEANING SERVICES 473223 CROWELL & MORING LLP PO BOX 75509 BALTIMORE MD 21275 LEGAL SERVICES 346756 GTR TURF INC 92 LE WAY DRIVE FREDERICKBURG VA 22406 MAINTENANCE SERVICES 319070 ARMFIELD HARRISON & THOMAS INC 20 SOUTH KING STREET LEESBURG VA 20175 CONSULTING SERVICES 195808 8 688782 2930048 476108 3618830 TUITION AND FEES 900099 25411466 25411466 SUMMER PROGRAMS 900099 974735 974735 STUDENT ACTIVITIES 900099 151309 151309 26537510 1295832 1295832 176874 0 176874 176874 176874 5356460 1130 5355627 0 833 1130 1963 1963 570155 688782 215375 354780 354780 OTHER INCOME 900099 54688 54688 54688 32040477 26537510 0 1884137 4515147 4515147 1238059 947460 247355 43244 13073127 10004586 2611912 456629 929489 711318 185705 32466 993059 759967 198406 34686 1016835 778162 203156 35517 403030 403030 51766 51766 168197 168197 693619 374480 295350 23789 5900 5900 313371 94546 175449 43376 378202 269184 107076 1942 413360 370784 38856 3720 113330 98238 14141 951 71088 60080 10688 320 497020 445827 46720 4473 2432753 2182179 228679 21895 195808 195808 SCHOOL DEPARTMENT EXPEN 1308068 1308068 BUILDING & GROUNDS MAIN 1037512 930648 97526 9338 ADMINISTRATIVE EXPENSES 463646 141521 254477 67648 STUDENT ACTIVITIES 240435 240435 247983 76788 171195 30800804 24309418 5711392 779994 2501873 8580133 1122503 524589 793200 313909 515614 456721 60753791 28627413 32927555 32126378 46958356 43099232 84819101 85100962 4108039 545588 5945676 8972120 13958334 13976148 179081 130746 638960 532947 24830090 24157549 X 34764182 35832815 25224829 25110598 59989011 60943413 84819101 85100962 1239673 -285271 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 22605726 243798 401744 672309 22578959 21875787 412814 939020 621895 22605726 21451212 55416 936647 567488 21875787 20008466 116881 2007132 681267 21451212 20687546 394857 -471917 602020 20008466 0.00000 0.76810 0.23190 0 0 126082 126082 56129089 24980188 31148901 3705791 3026196 679595 792829 621029 171800 32126378 OTHER PROGRAM LIABILITIES 76899 DEFERRED COMPENSATION 445107 CAPITAL LEASE OBLIGATION 10941 532947 X 27286107 -4800418 -4800418 32086525 168197 -214245 -46048 32040477 26331705 214245 214245 26117460 168197 4515147 4683344 30800804 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, 2019, THE SCHOOL PAID TAXES OF $2,630 RELATED TO UNRELATED BUSINESS INCOME INCURRED IN THE PRIOR YEAR AND MADE AN ESTIMATED TAX PAYMENT OF $1,640 FOR UNRELATED BUSINESS INCOME RELATED TO THE YEAR ENDED JUNE 30, 2019. 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, 2020 AND 2019. 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 2017 REMAIN OPEN. THE SCHOOL HAS ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN INCOME TAX POSITIONS. DURING THE YEARS ENDED JUNE 30, 2020 AND 2019, 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 -4,515,147. UNREALIZED GAIN ON SWAP AGREEMENT -285,271. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -215,375. GAIN INCLUDED WITH EXPENSES ON AUDITED FINANCIAL STATEMENTS 1,130. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 215,375. GAIN INCLUDED WITH EXPENSES ON AUDITED FINANCIAL STATEMENTS -1,130. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID TO STUDENTS 4,515,147. 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 1258937 688782 570155 6300 95113 113962 1258937 688782 570155 6300 95113 113962 215375 354780 1 FINANCIAL AID 158 4515147 MONITORING THE USE OF GRANT FUNDS - PART I, LINE 2 ALL FINANCIAL AID GRANTS ARE APPLIED TO THE STUDENTS' TUITION. X X 1 1 X X X X X X 0 1 0 0 0 0 0 0 0 MARY JOSEPHINE TALBOTT HEAD OF SCHOOL 508510 0 0 0 45000 0 105484 0 4677 0 663671 0 0 0 WILLIAM HODGETTS ASSIST. HEAD: FINANCE 277164 0 0 0 0 0 22400 0 22292 0 321856 0 0 0 SALLY DUNKELBERGER DIRECTOR OF DEVELOPMENT 212997 0 0 0 0 0 17519 0 22016 0 252532 0 0 0 STEVEN TEJADA DIRECTOR OF UPPER SCHOOL 190395 0 0 0 0 0 15836 0 53686 0 259917 0 0 0 SUSAN EPPS ASSIST. HEAD: FACULTY DEV. 185487 0 0 0 0 0 13792 0 3726 0 203005 0 0 0 ANNIE FARQUHAR DIRECTOR OF ADMISSIONS 160923 0 0 0 0 0 13438 0 22016 0 196377 0 0 0 JAIME ESTRADA LANGUAGE DEPT. CHAIR 153892 0 0 0 0 0 12742 0 86125 0 252759 0 0 0 MARIA LOPEZ ASSIST. HEAD: ACADEMIC AFFAIRS 156734 0 0 0 0 0 12680 0 7339 0 176753 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. PART I, LINE 4B THE HEAD OF SCHOOL PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN (SECTION 457F). THE SCHOOL MADE A CONTRIBUTION OF $83,084 ON BEHALF OF THE HEAD OF SCHOOL INTO THIS PLAN IN 2019. 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. 99867 FINANCIAL AID TUITION ASSISTANCE X 19 476108 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 2019 - 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 2019, 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. 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. FORM 990, PART VII, SEC. A, LINE 1A, COL. (F): SEE SCHEDULE L, PART III, FOR ADDITIONAL INFORMATION REGARDING ANY TRUSTEES, OFFICERS, AND EMPLOYEES WHO WERE GRANTED FINANCIAL AID AS A RESULT OF A BLIND APPLICATION PROCESS.