2020-07-10T13:44:00-05:00 2019-06-30 205991824 SC&H TAX & ADVISORY SERVICES LLC 910 RIDGEBROOK ROAD SPARKS MD 21152 990 2018-07-01 520591645 OLDFIELDS SCHOOL INC OLDF 4104724800 1500 GLENCOE ROAD GLENCOE MD 21152 NANCY PALMER TRUSTEE, TREASURER 4104724800 2020-07-10 1 MIKE YOUNG P00236952 4104031500 2020-07-10 73.134.25.124 2020-07-10 11:28:46 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 C6A6351194ABA190B7A7B75DCE98B8C73007DF53 2018 2021-01-29 14:40:06Z DAVID PERFIELD 1500 GLENCOE ROAD GLENCOE MD 21152 10398866 0 X OLDFIELDSSCHOOL.ORG X 1926 MD TO PROVIDE EDUCATION OF STUDENTS PRIMARILY IN GRADES 8 THROUGH 12. 20 20 98 45 0 0 1128209 985230 6614371 5987282 633839 965331 3445473 11641 11821892 7949484 1259400 1417831 0 0 4311894 4568268 0 0 157411 4104270 4237169 9675564 10223268 2146328 -2273784 28600595 26422297 4323952 4384369 24276643 22037928 X OLDFIELDS SCHOOL IS COMMITTED TO THE INTELLECTUAL AND MORAL DEVELOPMENT OF YOUNG WOMEN. IN A CULTURE OF KINDNESS AND MUTUAL RESPECT, WE ENCOURAGE EACH STUDENT TO MAKE THE MOST OF HER ACADEMIC AND PERSONAL POTENTIAL. WE SEEK TO GUIDE EACH STUDENT TO GROW IN CHARACTER, CONFIDENCE, AND KNOWLEDGE BY ENCOURAGING HER TO EMBRACE THE VALUES OF PERSONAL HONESTY, INTELLECTUAL CURIOSITY, AND SOCIAL RESPONSIBILITY. 0 0 7816202 1417831 5987282 FOUNDED IN 1867, OLDFIELDS SCHOOL COMBINES TRADITION AND INNOVATION WHILE REMAINING TRUE TO ITS FUNDAMENTAL MOTTO, "COURAGE, HUMILITY, AND LARGENESS OF HEART." THE STUDENT BODY IS MADE UP OF A DIVERSE GROUP OF YOUNG WOMEN FROM ACROSS THE UNITED STATES AND AROUND THE GLOBE. APPROXIMATELY 89 COURSES, INCLUDING HONORS COURSES, ADVANCED PLACEMENT PREPARATION, SPECIAL SEMINARS, MAY PROGRAM, AND ART ELECTIVES ARE OFFERED. EACH GIRL'S EDUCATION IS TAILORED TO HER ABILITIES WITH AN AVERAGE CLASS SIZE OF 8 STUDENTS AND A 6:1 STUDENT TO FACULTY RATIO. OLDFIELDS FOCUSES ON ENSURING "EACH GIRL'S SUCCESS." OLDFIELDS SCHOOL IS LOCATED ON 140 RURAL ACRES NESTLED IN THE BUCOLIC HORSE COUNTRY OF NORTH BALTIMORE COUNTY, MARYLAND. 7816202 1 1 0 0 0 0 1 0 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 66 0 98 1 0 0 0 0 0 0 0 0 0 0 0 0 X 20 20 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 0 0 MD X BRYAN ENGLE DIRECTOR OF FINANCE & ADMINISTRATION 4436621011 1500 GLENCOE ROAD SPARKS MD 21152 R AUGUSTUS EDWARDS III P'95 '98 CHAIR 1.00 0.00 X X 0 0 0 NANCY PALMER P'12 VICE-CHAIR 1.00 0.00 X X 0 0 0 CHARLES DRISCOLL JR P'16 TREASURER 1.00 0.00 X X 0 0 0 DONALD F OBRECHT P'16 SECRETARY 1.00 0.00 X X 0 0 0 MARNEY BABBITT-PIERCE '04 TRUSTEE 1.00 0.00 X 0 0 0 RICHARD C DARRELL P'06 TRUSTEE 1.00 0.00 X 0 0 0 HEIDI DUPONT '95 TRUSTEE 1.00 0.00 X 0 0 0 CAROL HUBBELL ENGEBRETSON '72 TRUSTEE 1.00 0.00 X 0 0 0 LULU LAUBENSTEIN GOOD '72 TRUSTEE 1.00 0.00 X 0 0 0 SHEILA W HARRELL '90 TRUSTEE 1.00 0.00 X 0 0 0 DEBBIE L HILL '71 TRUSTEE 1.00 0.00 X 0 0 0 CHARELLE D JAMES '88 TRUSTEE 1.00 0.00 X 0 0 0 PETER M KANGAS P'21 TRUSTEE 1.00 0.00 X 0 0 0 ELIZABETH LIZ T LOVE '90 P'20 TRUSTEE 1.00 0.00 X 0 0 0 SCOTT S MENZIES P'03 TRUSTEE 1.00 0.00 X 0 0 0 ANNIEVIVE CRAIN PALM '76 TRUSTEE 1.00 0.00 X 0 0 0 SUSAN S REPKO '72 TRUSTEE 1.00 0.00 X 0 0 0 GAY R SMITH '68 TRUSTEE 1.00 0.00 X 0 0 0 HILARY GARDNER SWAIN '72 TRUSTEE 1.00 0.00 X 0 0 0 RAMSAY M WHITWORTH ESQ P'19 TRUSTEE 1.00 0.00 X 0 0 0 DAVID PERFIELD HEAD OF SCHOOL 40.00 0.00 X 130706 0 31738 BRYAN ENGLE DIRECTOR OF FINANCE & BUSINESS OPERATIONS 40.00 0.00 X 159068 0 32620 ANSLEY SMITHWICK ASSOCIATE HEAD OF SCHOOL 40.00 0.00 X 149723 0 44460 439497 0 108818 3 0 1 0 PPM-MID ATLANTIC 507 WYNGATE ROAD LUTHERVILLE MD 21093 FACILITIES/CUSTODIAL 625416 COMPASS GROUP USA INC - FLIK PO BOX 417632 BOSTON MA 02241 FOOD/DINING SERVICES 579368 KING CONSTRUCTION COMPANY 525 HOLLANDER ROAD NEW HOLLAND PA 17557 CONSTRUCTION 255500 3 985230 107897 985230 TUITION & FEES 611710 5339317 5339317 AUXILIARY ACTIVITIES 611710 647965 647965 5987282 264976 264976 12460 12460 3132902 2425128 7419 707774 -7419 700355 700355 16016 16835 -819 -819 7949484 5987282 0 976972 X 1417831 1417831 565162 370104 179206 15852 3156874 2061865 1006009 89000 182144 121341 55865 4938 392331 261365 120330 10636 271757 181040 83350 7367 19586 19586 48995 48995 56303 56303 1558972 1450312 107070 1590 67867 31081 36786 418649 158565 245691 14393 129745 84741 41346 3658 561402 508069 53333 58900 48347 7402 3151 142317 142317 652062 590116 61946 177406 116556 58189 2661 EQUESTRIAN 147250 147250 OTHER SCHOOL EXPENSES 53516 21320 31729 467 STUDENT LIFE 41258 41258 SPECIAL EVENTS 33236 26846 3195 3195 69705 35878 33324 503 10223268 7816202 2249655 157411 1932323 1566745 2718171 2691429 1299660 836790 1194933 35524 36373 47937 98598 82209 28416204 15563839 12555968 12852365 1217850 1027793 7525624 7000573 21095 280932 28600595 26422297 534021 654333 720789 591771 2985000 2985000 84142 153265 4323952 4384369 X 11785765 9613407 5717665 5601305 6773213 6823216 24276643 22037928 28600595 26422297 X -2273784 -241615 265676 11008 X X 0 1 X 1 0 X 2174605 1551733 1861954 1128209 985230 7701731 2174605 1551733 1861954 1128209 985230 7701731 1714044 5987687 175968 207362 170131 197777 277436 1028674 44080 39791 45298 3452779 16016 3597964 12328369 42430899 0.48570 0.52720 X SCHEDULE A, PART II, SECTION B, LINE 10 THE SCHOOL OPERATES A SCHOOL STORE, LOCATED ON THE PREMISES WHICH SELLS SCHOOL SUPPLIES, SNACKS, EDUCATIONAL AIDS, LOGO MERCHANDISE, AND VARIOIUS OTHER ITEMS THAT WOULD BE NEEDED BY THE STUDENTS. THE SCHOOL STORE IS OPERATED FOR THE CONVENIENCE OF THE STUDENTS AND EMPLOYEES. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 5.90 0 0 1 1 9.00 0 8561459 273186 666313 400000 39164 9061794 8721064 251766 780183 1157000 34554 8561459 7831188 330491 1046237 453282 33570 8721064 8005654 293489 -18727 420000 29228 7831188 7681982 354479 313597 320000 24404 8005654 0.05530 0.70130 0.24340 0 0 796298 796298 24240091 13247864 10992227 2037790 1708753 329037 1342025 607222 734803 12852365 CASH SURRENDER VALUE OF LIFE INSURANCE 243066 F HATTERAS MULTI-STRATEGY TEI FUND 65729 F INTEREST IN OIL AND GAS LEASE 85886 F MULTI-STRATEGY BOND FUND 2358718 F MULTI-STRATEGY EQUITY FUND 4247174 F 7000573 X 6261578 -241615 27843 -213772 6475350 56303 1417831 1474134 7949484 8765969 16835 16835 8749134 56303 1417831 1474134 10223268 PART II, LINE 5: IN 2004, A FOREST STEWARDSHIP PLAN WAS PREPARED FOR MARYLAND GRID 907 X 628; TAX MAP 28 PARCEL 195 IN BALTIMORE COUNTY. THIS PLAN OUTLINES RECOMMENDATIONS BASED ON THE GOALS TO PRESERVE THE NATURAL HABITAT AND RESOURCES PRESENT. THE PLAN PROVIDES MANAGEMENT UNIT DESCRIPTIONS AND RECOMMENDED PRACTICES, GENERAL PROPERTY-WIDE RECOMMENDATIONS, COST-SHARE AND TAX ASSISTANCE PROGRAM ANALYSIS, AND A MANAGEMENT PRACTICE SCHEDULE. PART II, LINE 9: THE EASEMENT IS MONITORED, INSPECTED, AND ENFORCED BY THE GROUNDS MAINTENANCE CONTRACTOR OF THE SCHOOL. THE COSTS OF PERFORMING THESE ACTIVITIES ARE NOT SEPARATELY TRACKED, BUT RATHER, ARE INCLUDED IN THE GENERAL SERVICE CONTRACT. PART V, LINE 4: THE SCHOOL USES THE ENDOWMENT FUNDS AS SUPPORT FOR OPERATING EXPENSES THAT ARE NECESSARY TO FULFILL THE SCHOOL'S EXEMPT PURPOSE. THE ENDOWMENT FUNDS ARE INVESTED UNDER THE SCHOOL'S INVESTMENT POLICY TO COMPLY WITH THE STATE OF MARYLAND UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT. THE BOARD APPROPRIATES THE EARNINGS OF THE ENDOWMENT FUNDS FOR EXPENDITURE TO SUPPORT DONOR STIPULATED PURPOSES. PART X, LINE 2: ASC 740, INCOME TAXES, PRESCRIBES THE RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. IT ALSO PROVIDES GUIDANCE ON DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. FOR THOSE 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 IS REQUIRED TO FILE INFORMATIONAL RETURNS IN VARIOUS JURISDICTIONS; HOWEVER THERE ARE CURRENTLY NO AUDITS IN PROGRESS. THE SCHOOL DOES NOT HAVE ANY AMOUNTS ACCRUED RELATING TO INTEREST AND PENALTIES AS OF JUNE 30, 2019 AND 2018. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED WITH REVENUE 16,835. CHANGE IN VALUE OF CHARITABLE REMAINDER TRUST 11,008. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID RECORDED AS A REDUCTION OF REVENUE 1,417,831. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED WITH REVENUE 16,835. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID RECORDED AS A REDUCTION OF REVENUE 1,417,831. 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'S POLICY IS PUBLISHED IN VARIOUS NEWSPAPERS ANNUALLY. THE POLICY IS ALSO ON THE SCHOOL'S WEBSITE AND IN THE STUDENT HANDBOOK. 1 FINANCIAL AID IN THE FORM OF SCHOLARSHIPS AWARDED TO STUDENTS 47 1417831 FAIR MARKET VALUE PART I, LINE 2: THE STUDENT'S PARENT(S) APPLY FOR THE FINANCIAL AID BY COMPLETING THE UNIFORM SSS FORM. MANAGEMENT REVIEWS THE SSS FORM AND AWARDS FINANCIAL AID ON AN AS-NEEDED BASIS. THE AMOUNT OF EACH AWARD IS APPLIED TO THE RESPECTIVE STUDENT'S TUITION BILL. X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 DAVID PERFIELD HEAD OF SCHOOL 95600 0 22290 0 12816 0 0 0 31738 0 162444 0 0 0 BRYAN ENGLE DIRECTOR OF FINANCE & BUSINESS OPERA 157600 0 0 0 1468 0 9660 0 22960 0 191688 0 0 0 ANSLEY SMITHWICK ASSOCIATE HEAD OF SCHOOL 148302 0 0 0 1421 0 15000 0 29460 0 194183 0 0 0 PART I, LINE 1A AS A CONDITION OF EMPLOYMENT, DAVID PERFIELD WAS PROVIDED ON CAMPUS HOUSING FOR THE CONVENIENCE AND BENEFIT OF THE ORGANIZATION. THIS HOUSING IS NOT TAXABLE AND IS INCLUDED IN NONTAXABLE BENEFITS. AS A CONDITION OF EMPLOYMENT, DAVID PERFIELD WAS PROVIDED WITH $7,290 IN TAX GROSS-UPS PAID. A MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY 520936091 2010-04-14 2985000 PROCEEDS WERE USED TO REFINANCE EXISTING BONDS. 0 0 0 A 2985000 2985000 2010 1 0 1 1 A 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 0 A 0 X 11 107897 FAIR MARKET VALUE 0 0 1 0 PART I, LINE 33: THE SCHOOL DOES NOT VALUE NONCASH CONTRIBUTIONS FOR PREVIOUSLY OWNED HORSES AND GOODS. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT KEEP MINUTES FOR COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. MINUTES ARE ONLY DOCUMENTED FOR MEETINGS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE HEAD OF SCHOOL, CFO, AND COMPTROLLER PERFORM THE INITIAL REVIEW. AFTER THEIR APPROVAL, THE 990 IS REVIEWED AND APPROVED BY THE FINANCE COMMITTEE, AND IS PRESENTED TO THE FULL BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C IN ACCORDANCE WITH NAIS STANDARDS, ALL TRUSTEES AND KEY EMPLOYEES ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY. THE ADMINISTRATIVE ASSISTANT TO THE HEAD OF THE SCHOOL SENDS ALL TRUSTEES A COPY OF THE CONFLICT OF INTEREST STATEMENT VIA EMAIL TO SIGN AT THE BEGINNING OF EACH FISCAL YEAR. THE STATEMENTS ARE FILED BY THE HEAD'S ADMINISTRATOR AND ARE KEPT ON FILE AND UP TO DATE. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION FOR THE HEAD OF THE SCHOOL IS DETERMINED BY THE BOARD OF TRUSTEES HEADS COMMITTEE. THE COMMITTEE USES AIMS SUMMARY REPORTS OF COMPENSATION AS A GUIDELINE FOR SETTING COMPENSATION. COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED BY REVIEW OF COMPARABLE SALARIES AT PEER SCHOOLS AND MARKET REPORTS. THE HEAD OF SCHOOL REVIEWS AND APPROVES THESE. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES AVAILABLE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS UPON REQUEST. FORM 990, PART IX, LINE 11G FOOD SERVICES: PROGRAM SERVICE EXPENSES 618,332. MANAGEMENT AND GENERAL EXPENSES 19,730. FUNDRAISING EXPENSES 1,585. TOTAL EXPENSES 639,647. CONSULTANTS - OTHER: PROGRAM SERVICE EXPENSES 831,980. MANAGEMENT AND GENERAL EXPENSES 87,340. FUNDRAISING EXPENSES 5. TOTAL EXPENSES 919,325. FORM 990, PART XI, LINE 9: CHANGE IN DISCOUNT ON CHARITABLE REMAINDER TRUSTS 11,008. FORM 990, PAGE 12, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. CHARITABLE REMAINDER UNITRUST 200 W LANCASTER AVE WAYNE PA 19087 CHARITABLE REMAINDER UNITRUST PA T 276684 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 CHARITABLE REMAINDER UNITRUST C 276684 FAIR VALUE