2021-05-12T18:28:03-05:00 2020-06-30 420714325 RSM US LLP 9801 WASHINGTONIAN BLVD STE 500 GAITHERSBURG MD 20878 990 2019-07-01 540673568 THE LANGLEY SCHOOL INC LANG 7033561920 1411 BALLS HILL ROAD MCLEAN VA 221013499 GREG BOKMAN CHIEF FINANCIAL OFFICER 7033561920 2021-05-11 1 WILLIAM E TURCO CPA P00369217 3012963600 2021-05-11 2019 2022-09-23 18:48:47Z ELINOR SCULLY 1411 BALLS HILL ROAD MCLEAN VA 221013499 48426228 0 X WWW.LANGLEYSCHOOL.ORG X 1942 VA TO PROVIDE EDUCATION TO PRESCHOOL THROUGH 8TH GRADE STUDENTS. 17 17 188 100 0 0 3798708 3202525 18448777 19015772 351570 375086 91102 111528 22690157 22704911 2049028 2044570 0 0 12154522 12999997 180000 290000 818523 4595814 4568521 18979364 19903088 3710793 2801823 50998923 53258741 14664533 13893859 36334390 39364882 X WE BELIEVE THAT EACH CHILD'S POTENTIAL IS BOUNDLESS AND EVERY CHILD CAN ACT WITH INTEGRITY, GENEROSITY, AND CONSIDERATION FOR OTHERS. WE REACH ACROSS MULTIPLE DISCIPLINES TO DISCOVER, AMPLIFY, AND EMBRACE THE TALENTS OF EVERY CHILD, EVERY DAY. BY NURTURING, SUPPORTING, AND ACADEMICALLY CHALLENGING OUR STUDENTS, OUR INCLUSIVE COMMUNITY BUILDS QUIETLY CONFIDENT, INDEPENDENT THINKERS WHO FLOURISH AS LEARNERS AND INDIVIDUALS. 0 1 15186093 2044570 19015772 OPERATION OF A PRIVATE SCHOOL FOR GRADES PRESCHOOL THROUGH 8TH SERVING OVER 470 STUDENTS. 15186093 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 1 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 33 0 1 188 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 VA X GREG BOKMAN 7033561920 1411 BALLS HILL ROAD MCLEAN VA 221013499 ELINOR SCULLY HEAD OF SCHOOL 40.00 X 466397 0 49066 GREGORY BOKMAN CFO 40.00 X 208940 0 41112 AYESHA FLAHERTY DIR OF ENROLLMENT/COMMUNIC 40.00 X 172312 0 13773 PHILLIP PETRU ASST HEAD OF SCHOOL 40.00 X 178201 0 7118 MARGARET LAURENT HEAD OF LOWER SCHOOL 40.00 X 139243 0 19413 KURT KLUNDER IT DIRECTOR 40.00 X 134983 0 11171 MARGARET DWIGHT HR DIRECTOR 40.00 X 125820 0 18767 ZAC MERRIMAN CHAIR 2.00 X X 0 0 0 GERRY SALEMME VICE CHAIR/TREASURER 2.00 X X 0 0 0 MAKIKO HARRISON SECRETARY 2.00 X X 0 0 0 JOHN ASADOORIAN BOARD MEMBER 2.00 X 0 0 0 JACK BALLINGHOFF BOARD MEMBER 2.00 X 0 0 0 I-MIN CHAO BOARD MEMBER 2.00 X 0 0 0 ALIFIA DORIWALA BOARD MEMBER 2.00 X 0 0 0 KAREN FRANA BOARD MEMBER 2.00 X 0 0 0 JENNIFER GRAHAM BOARD MEMBER 2.00 X 0 0 0 DAVID HALWIG BOARD MEMBER 2.00 X 0 0 0 DENISE HASELHORST BOARD MEMBER 2.00 X 0 0 0 SARA MAGNER BOARD MEMBER 2.00 X 0 0 0 PRESTON MILLER BOARD MEMBER 2.00 X 0 0 0 WENDY MOE BOARD MEMBER 2.00 X 0 0 0 KATE PINKERTON BOARD MEMBER 2.00 X 0 0 0 BARBARA TOOHILL BOARD MEMBER 2.00 X 0 0 0 SHIREEN ZAMAN BOARD MEMBER 2.00 X 0 0 0 1425896 0 160420 16 0 1 0 COX GRAAE & SPACK ARCHITECTS 2909 M STREET NW WASHINGTON DC 20007 ARCHITECT 407881 FAIRFAX FOOD SERVICE & CATERERS PO BOX 418 NEWINGTON VA 22122 CATERING 269149 K&S MANAGEMENT AND SUPPLY 2110-B GALLOWS ROAD VIENNA VA 22182 JANITORIAL SERVICES 148921 KATCHMARK CONSTRUCTION 3856A DULLES SOUTH COURT CHANTILLY VA 20151 CONSTRUCTION 126351 4 160950 3041575 525522 3202525 TUITION FEES 900099 18534724 18534724 AUXILLIARY SERVICES 900099 481048 481048 19015772 353134 353134 25700436 25678484 21952 21952 21952 154361 160950 42833 111528 111528 22704911 19015772 0 486614 2044570 2044570 778204 557656 202605 17943 9717723 7092644 2407068 218011 729729 467343 242956 19430 1037731 664599 345503 27629 736610 471750 245247 19613 61238 61238 76588 76588 290000 290000 43708 43708 5012 5012 94543 94543 259798 6255 107321 146222 245030 237366 6145 1519 645194 624419 20775 45862 45862 153620 147766 4695 1159 1115373 1079458 35915 193752 187571 4957 1224 STUDENT ACTIVITIES 849096 849096 PROF. DEVELOPMENT 355258 191690 163568 FOOD SERVICE 186820 186820 ALLOCATED OVERHEAD 0 284152 -300127 15975 237629 47076 135767 54786 19903088 15186093 3898472 818523 500 500 3479576 14593717 3620257 3351093 88624 344525 241868 40237371 19523984 21000561 20713387 22464880 11235932 3122244 50998923 53258741 1240163 1177410 9105481 8683112 4300222 4033337 18667 0 14664533 13893859 X 27235296 29510235 9099094 9854647 36334390 39364882 50998923 53258741 X 2801823 252461 -23792 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5466583 243168 189201 183175 5715777 4923159 625060 370349 451985 5466583 3777016 945170 342297 141324 4923159 2999698 475271 432780 130733 3777016 2978471 145170 2994 126937 2999698 0.86800 0.13200 0 0 209494 209494 33941275 15320973 18620302 3284866 2576283 708583 2801736 1626728 1175008 20713387 289097-VANGUARD GNMA ADM (VFIJX) 3122244 C 3122244 X 20869337 252461 -2040275 -1787814 22657151 47760 47760 22704911 17815053 0 17815053 47760 2040275 2088035 19903088 PART V, LINE 4: PERMANENTLY RESTRICTED NET ASSETS ARE RESTRICTED TO INVESTMENT IN PERPETUITY. INVESTMENT EARNINGS ON THESE AMOUNTS ARE AVAILABLE TO SUPPORT FACULTY DEVELOPMENT, GENERAL OPERATIONS, AND FINANCIAL AID SCHOLARSHIPS. 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. IN ADDITION, THE SCHOOL QUALIFIES FOR CHARITABLE CONTRIBUTIONS DEDUCTIONS AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. BUSINESS INCOME WHICH IS NOT RELATED TO EXEMPT PURPOSES, LESS APPLICABLE DEDUCTIONS, IS SUBJECT TO FEDERAL AND STATE CORPORATE INCOME TAXES. FOR THE YEAR ENDED JUNE 30, 2020, THE SCHOOL HAD NO NET UNRELATED BUSINESS INCOME AND ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REQUIRED IN THE ACCOMPANYING FINANCIAL STATEMENTS. MANAGEMENT EVALUATED THE SCHOOL'S TAX POSITIONS AND CONCLUDED THAT THE SCHOOL HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. THE SCHOOL FILES INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION. WITH FEW EXCEPTIONS, THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2017. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST TUITION & FEES IN THE FINANCIAL STATEMENT -2,040,275. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST TUITION & FEES IN THE FINANCIAL STATEMENT 2,040,275. 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 ADVERTISEMENT WAS PLACED IN THE WASHINGTON POST NEWSPAPER ANNOUNCING THE SCHOOL'S NON-DISCRIMINATION POLICY. X X X X 1 COMPASS GROUP 2961A HUNTER MILL ROAD OAKTON VA 22124 PROVIDE STRATEGIC CAMPAIGN COUNSEL 0 0 290000 -290000 290000 -290000 VA SPRING AUCTION 294457 160950 133507 24163 FALL FAIR 20854 20854 18670 315311 160950 154361 42833 42833 111528 1 FINANCIAL AID 85 2040275 SUMMER GRANTS 3 4295 PART I, LINE 2: A LANGLEY SCHOOL EDUCATION REPRESENTS A SIGNIFICANT FINANCIAL INVESTMENT IN A CHILD'S FUTURE. WE FEEL STRONGLY THAT FINANCIAL CONSIDERATIONS SHOULD NOT BE THE DETERMINING FACTOR IN WHETHER A CHILD ATTENDS THE LANGLEY SCHOOL. FINANCIAL ASSISTANCE IS AVAILABLE TO STUDENTS IN ALL GRADES, PRESCHOOL THROUGH GRADE 8. FAMILIES CAN APPLY FOR FINANCIAL AID THROUGH THE SCHOOL'S THIRD-PARTY, INDEPENDENT PROCESSING COMPANY. THE INDEPENDENT PROCESSING COMPANY MAKES FINANCIAL AID RECOMMENDATIONS BASED ON MULTIPLE FACTORS WHICH INCLUDE THE FAMILY'S EARNINGS AND OTHER FINANCIAL INFORMATION. THESE RECOMMENDATIONS ARE REPORTED TO LANGLEY AND ARE REVIEWED BY THE SCHOOL'S FINANCIAL AID COMMITTEE. THE COMMITTEE MAKES THE FINAL MONETARY AWARD DECISION BASED ON THE FAMILY'S OVERALL FINANCIAL AID APPLICATION. THE SCHOOL COMMUNICATES FINANCIAL AID AWARDS TO THE FAMILY FOR THEIR CONSIDERATION DURING THE ENROLLMENT PROCESS. AWARDS ARE ONLY GRANTED FOR ONE FISCAL YEAR AND AN UPDATED APPLICATION IS REQUIRED ANNUALLY. X 1 1 X X X 0 0 0 0 0 0 0 1 0 ELINOR SCULLY HEAD OF SCHOOL 399822 0 30000 0 36575 0 40500 0 9073 0 515970 0 0 0 GREGORY BOKMAN CFO 208471 0 0 0 469 0 17607 0 25241 0 251788 0 0 0 AYESHA FLAHERTY DIR OF ENROLLMENT/COMMUNIC 172165 0 0 0 147 0 13773 0 859 0 186944 0 0 0 PHILLIP PETRU ASST HEAD OF SCHOOL 177955 0 0 0 246 0 7118 0 496 0 185815 0 0 0 MARGARET LAURENT HEAD OF LOWER SCHOOL 138522 0 0 0 721 0 11286 0 9471 0 160000 0 0 0 PART I, LINE 1A ELINOR SCULLY RECEIVED A TAXABLE HOUSING ALLOWANCE OF $36,000 REPORTED IN PART II, COLUMN(B)(III). PART I, LINE 7 HEAD OF SCHOOL WAS PAID AN ANNUAL BONUS AS STATED PER THE EMPLOYMENT CONTRACT. BONUS WAS APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD. A FAIRFAX COUNTY ECONOMIC DEVELOPMENT AUTHORITY SERIES 2020A AND 2020B 540787833 2020-02-27 20399000 REFINANCE OUTSTANDING 2011 DEBT; NEW DEBT FOR CONSTRUCTION OF BUILDING 0 0 0 A 20399000 395679 50001 4003320 15949999 1 0 0 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 0 A 1 SCHEDULE K, PART I(E) ISSUE PRICE: ON FEBRUARY 27, 2020, THE SCHOOL REFINANCED THE 2011 SERIES A-1, A-2 BOND DEBT AND ISSUED FAIRFAX COUNTY ECONOMIC DEVELOPMENT AUTHORITY REVENUE BOND, SERIES 2020 A AND SERIES 2020 B FOR $4,399,000 AND $16,000,000, RESPECTIVELY. THE SCHOOL PAID OFF THE EXISTING BOND DEBT, INTEREST RATE SWAPS, AND LINE OF CREDIT OUTSTANDING BALANCE RESULTING IN A LOSS ON EARLY DEBT EXTINGUISHMENT OF $28,152 FOR THE YEAR ENDED JUNE 30, 2020, WHICH REPRESENTS THE WRITE-OFF OF THE REMAINING UNAMORTIZED COSTS OF THE BOND ISSUANCE COSTS FROM THE PAID OFF BONDS. THE REFINANCING WAS COMPLETED IN ORDER TO FUND SCHOOL IMPROVEMENTS. SANDY SPRING BANK PURCHASED THE $4,399,000 AND $16,000,000 SERIES 2020 A AND SERIES 2020 B REVENUE BONDS WITH A FIXED INTEREST RATE OF 2.635%. THE SCHOOL HAS DRAWN THE FULL AMOUNT OF THE SERIES 2020 A BOND, BUT HAS ONLY DRAWN $50,001 ON THE SERIES 2020 B BONDS AS OF JUNE 30, 2020. IF THE FULL AMOUNT OF SERIES 2020 B BOND IS NOT DRAWN ON OR BEFORE JUNE 1, 2022, THE SCHOOL WILL PROVIDE MONTHLY INSTALLMENTS OF PRINCIPAL AND INTEREST ON THE OUTSTANDING BALANCE IN AN AMOUNT SUFFICIENT TO AMORTIZE THE OUTSTANDING PRINCIPAL AMOUNT AS OF JUNE 1, 2022 TO MATURITY. ADDITIONALLY, THE NOTE IS SUBJECT TO MANDATORY REDEMPTION ON MARCH 1, 2040, WHICH WOULD BE AN AMOUNT EQUAL TO THE PRINCIPAL AMOUNT TO BE REDEEMED, PLUS ANY APPLICABLE PREMIUM, PLUS ALL UNPAID INTEREST ACCRUED TO THE DATE FIXED FOR REDEMPTION. X 17 525522 FMV 0 0 1 0 PART I, COLUMN (B): REPORTING THE NUMBER OF CONTRIBUTIONS FORM 990, PART III, LINE 3 DUE TO THE COVID-19 PANDEMIC, THE SCHOOL WAS CLOSED IN MARCH, 2020 AND CONTINUED INSTRUCTION VIRTUALLY FOR THE REMAINDER OF THE SCHOOL YEAR. NO TUITION FEES WERE REFUNDED AS THE SCHOOL CONTINUED DELIVERY OF ITS PROGRAM VIRTUALLY. AUXILIARY REVENUE COLLECTED WAS REFUNDED TO FAMILIES WHERE SERVICES COULD NOT BE PROVIDED BY THE SCHOOL AFTER MARCH, 2020. REVENUE AND EXPENSES REMAINED FAIRLY CONSISTENT YEAR OVER YEAR FOR THE 2018 AND 2019 RETURNS. IN THE IMMEDIATE FUTURE IT IS ANTICIPATED THAT OVERALL REVENUE WILL BE LOWER RELATED TO AUXILIARY SERVICES BECAUSE OF THE PANDEMIC AND FEWER OF THESE PROGRAMS OPERATING. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION REVIEWS THE DRAFT FORMS 990, 990T AND STATE EQUIVALENTS IN THEIR ENTIRETY THROUGH CAREFUL EXAMINATION BY THE SCHOOL'S CHIEF FINANCIAL OFFICER, CONTROLLER, HEAD OF SCHOOL, BOARD CHAIR AND CHAIR OF THE AUDIT COMMITTEE. THE DRAFT FORMS WITH DONOR NAMES REDACTED IS ALSO REVIEWED BY THE AUDIT COMMITTEE, WHICH SUBJECT TO CHANGES AND CORRECTIONS, ACCEPTS THE REPORTS ON BEHALF OF THE BOARD. THE REDACTED FORM IS THEN MADE AVAILABLE TO THE SCHOOL'S BOARD OF TRUSTEES FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REGULARLY MONITORS AND ENFORCES COMPLIANCE WITH THE WRITTEN CONFLICT OF INTEREST POLICY. THIS IS DONE BY REQUIRING EACH MEMBER OF THE ORGANIZATION'S GOVERNING BODY, ITS BOARD OF DIRECTORS, TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE BEFORE SERVING ON THE BOARD. THIS CONFLICT OF INTEREST POLICY IS REQUIRED TO BE SUBMITTED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS FOR DETERMINING COMPENSATION FOR THE HEAD OF SCHOOL INCLUDES A REVIEW BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES OF THE APPROPRIATE LEVEL OF COMPENSATION THROUGH BENCHMARKING AGAINST PEER SCHOOLS WITHIN THE AREA. DATA IS COLLECTED FROM ASSOCIATIONS WHICH PROVIDE THE SUPPORT IN MAKING THIS FINAL DECISION. FOR ALL OTHER EMPLOYEES, THE HEAD OF SCHOOL, AND DIRECTOR OF HUMAN RESOURCES UTILIZE SIMILAR BENCHMARKS TO DETERMINE APPROPRIATE LEVELS OF COMPENSATION FOR EMPLOYEES. ALL PAYROLL DECISIONS ARE MADE WITHIN THE PARAMETERS OF A BOARD OF TRUSTEES APPROVED FISCAL BUDGET. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS INCLUDING THE ORGANIZATION'S BYLAWS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO MEMBERS OF THE SCHOOL COMMUNITY THROUGH INSPECTION AT THE SCHOOL'S ADMINISTRATION BUILDING. THE "MEMBERS" ARE THE PARENTS OR GUARDIANS OF LANGLEY STUDENTS WHO HAVE SIGNED ENROLLMENT AGREEMENTS FOR THE CURRENT SCHOOL YEAR. MEMBERSHIP IS FOR TWELVE MONTHS AND ONLY RENEWS UPON SIGNING A NEW CONTRACT. FINANCIAL STATEMENT SUMMARIES ARE MAILED ANNUALLY TO ALL MEMBERS WITHIN THE SCHOOL'S ANNUAL REPORT AND COPIES ARE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: UNREALIZED GAIN/(LOSS) ON SWAP AGREEMENT 4,360. LOSS ON EXTINGUISHMENT OF DEBT -28,152.