2019-05-11T21:17:27-05:00 2018-06-30 202153727 SB & Company LLC 200 International Cir Suite 5500 Hunt Valley MD 21030 990 2017-07-01 521072250 Baltimore Educational Scholarship Trust BALT 4107522225 808 North Charles Street Baltimore MD 21201 Jessica Suriano Executive Director 4107522225 2019-05-11 1 Pamela Gray P01237506 4105840060 2019-04-29 173.67.1.123 2019-05-11 21:07:23 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 C1285A5BF8FAD2B3DC1AFB143D3A055C0158201C 2017 2019-02-21 02:37:17Z Jessica Suriano 808 North Charles Street Baltimore MD 21201 1797908 0 X www.besttrust.org X 1987 MD The Baltimore Educational Scholarship Trust, in partnership with our nineteen independent member schools, recruits and supports through the admissions process academically ambitious, African American students with financial need from the Baltimore area. Once students are enrolled, B.E.S.T. positions them for success through academic preparation, character and leadership development and support programs. 47 47 20 47 0 4985 765281 766168 406210 419387 849313 366201 0 0 2020804 1551756 568435 528930 0 0 649218 685736 0 0 155458 328793 352172 1546446 1566838 474358 -15082 10701065 11120795 334369 350927 10366696 10769868 X The Baltimore Educational Scholarship Trust, in partnership with our nineteen independent member schools, recruits and supports through the admissions process academically ambitious, African American students with financial need from the Baltimore area. Once students are enrolled, B.E.S.T. positions them for success through academic preparation, character and leadership development and support programs. 0 0 1236949 528930 419387 The three greatest accomplishments of the Baltimore Educational Scholarship Trust include our admissions support, our student / parent programs and our facilitation of private and public school partnerships. In admissions, we provide individualized admissions and financial aid counseling to applicants and their parents. Our student and parent programs include academic enrichment, leadership development, parent networking and college-bound support. In addition, B.E.S.T. builds partnerships and facilitates collaborations between private and public educational leaders throughout Baltimore. The totality of our programmatic work supports applicant students and parents, enrolled students and parents and the educational community in Baltimore. 1236949 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 12 0 1 20 1 1 1 0 0 0 0 0 0 0 0 0 X 47 47 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 1 1 1 1 0 MD X Jill Wood 4107522225 808 North Charles Street Baltimore MD 21201 Young Karlo G Board President 4.00 X X 0 0 0 Collins Tiffani S Board Vice President 2.00 X X 0 0 0 Schmick John E Board Second Vice President 2.00 X X 0 0 0 Berrier Christopher A Board Secretary 2.00 X X 0 0 0 Watson Craig S Board Treasurer 2.00 X X 0 0 0 Alexander Teri Trustee 1.00 X 0 0 0 Blatti Caroline Trustee 1.00 X 0 0 0 Britton Charles W Trustee 1.00 X 0 0 0 Brune Jean Waller Emeritus 1.00 X 0 0 0 Dixon W Boulton Trustee 1.00 X 0 0 0 Evins Penny B Trustee 1.00 X 0 0 0 Faus David C Trustee 1.00 X 0 0 0 Finney Redmond CS Emeritus 0.00 X 0 0 0 Ford Tracey H Trustee 1.00 X 0 0 0 Foxworth Domonique Trustee 1.00 X 0 0 0 Harvey III F Barton Emeritus 0.00 X 0 0 0 Hathaway Molly M Emeritus 0.00 X 0 0 0 Hasselbart Nikki J Trustee 1.00 X 0 0 0 Holmgren Andrew B Trustee 1.00 X 0 0 0 Hunter David B Trustee 1.00 X 0 0 0 Hurley Cheo D Trustee 2.00 X 0 0 0 Hutchins Diane Trustee 1.00 X 0 0 0 Jacks III Grant Emeritus 0.00 X 0 0 0 Lagarde Douglas Trustee 1.00 X 0 0 0 Lohr Lila B Trustee 1.00 X 0 0 0 Lorber Timothy J Trustee 1.00 X 0 0 0 Micciche Matthew W Trustee 1.00 X 0 0 0 Nespole Matthew Trustee 1.00 X 0 0 0 Owen Lee S Trustee 1.00 X 0 0 0 Page Jr James E Trustee 1.00 X 0 0 0 Paradis Daniel J Trustee 2.00 X 0 0 0 Post Christopher J Trustee 2.00 X 0 0 0 Reid Jr Vernon A Trustee 1.00 X 0 0 0 Rodgers Theo C Emeritus 1.00 X 0 0 0 Rubin The Honorable Julie R Trustee 1.00 X 0 0 0 Sadler Susan T Trustee 1.00 X 0 0 0 Shifrin Ben Trustee 1.00 X 0 0 0 Simms Stuart O Emeritus 1.00 X 0 0 0 Smith Floyd O Trustee 1.00 X 0 0 0 Smithwick Ansley Trustee 1.00 X 0 0 0 Smyth Henry PA Trustee 1.00 X 0 0 0 Snyder Lawrence Trustee 1.00 X 0 0 0 Staley Anne Trustee 1.00 X 0 0 0 Stevens Randy S Trustee 1.00 X 0 0 0 Sweeney Martha H Trustee 1.00 X 0 0 0 Timken John H Trustee 2.00 X 0 0 0 Whitehead Pat Trustee 1.00 X 0 0 0 Jessica Suriano Executive Director 40.00 X 116000 0 7544 Crystal Lee Director of Advancement 40.00 X 94145 0 11312 Jill Wood Director of Finance & Operation 40.00 X 77339 0 12623 Toni Stokes Admissions and Data Base Manager 40.00 X 74171 0 10071 Alecia Pridgen Director of Enrollment Management 40.00 X 63084 0 10232 424739 0 51782 1 0 0 0 0 766168 766168 School membership fees 900099 407500 407500 Application fees and o 900099 11887 11887 419387 192353 192353 420000 246152 173848 173848 173848 1551756 419387 0 366201 528930 528930 492295 346676 79345 66274 118013 68540 36288 13185 1300 883 247 170 27849 18936 5291 3622 46279 31470 8793 6016 619 433 124 62 20700 14490 4140 2070 37172 26021 7434 3717 52185 26250 7065 18870 57044 39931 11409 5704 3813 1926 1887 9266 9266 13267 7960 3980 1327 Student Prgms/Svcs Expe 105477 105477 Cultivation and Steward 32030 32030 Project and Events 15355 15355 Business expenses 5244 3671 1049 524 1566838 1236949 174431 155458 174074 218176 17335 46495 12252 14694 141927 125355 17622 16572 10479782 10824858 10701065 11120795 16815 19509 317554 331418 334369 350927 X 385136 490728 4517013 4814593 5464547 5464547 10366696 10769868 10701065 11120795 -15082 418254 0 X X 0 1 X 1 0 X 713162 739089 734177 770281 766168 3722877 713162 739089 734177 770281 766168 3722877 425746 3297131 266757 164662 176055 170521 192353 970348 4693225 1984500 0.70250 0.71330 X 9611825 719353 430336 9900812 8978486 1093243 459904 9611825 9459905 -29111 452308 8978486 9689524 183614 413233 9459905 8671007 1424701 406184 9689524 0.55190 0.44810 0 0 141927 125355 16572 16572 Money market funds 1506949 F Domestic US Stocks/Funds 5003214 F International Stocks/Funds 1478575 F Fixed Income 2836120 F 10824858 Distributions payable to schools 326000 Capital Lease 5418 331418 X 1970010 418254 418254 1551756 0 1551756 1566838 0 1566838 0 1566838 Part X, Line 2: The Organization is exempt from federal and state income taxes under Section 501(c)(3) of the Internal Revenue Code. In addition, the internal Revenue Services has determined the Organization is not a private foundation within the meaning of Section 509(a) of the Code. The Organization follows the provision of Accounting of Uncertainty in Income Tax under the Income Taxes Topics of the Codification. The Codification requires the evaluation of tax positions, which include maintaining its tax-exempt status and the taxability of any unrelated business income, and does not allow recognition of tax positions which do not meet a "more-likely-than-not" threshold of being sustained by the applicable tax authority. Managment does not believe it has taken any tax positions that would not meet this threshold. 1 Gilman School Inc 5407 Roland Ave Baltimore MD 21210 520591604 501(c)(3) 38377 SHDF, Annual Fund Gift, and 2 Emergency Fund grants St Paul's School 11152 Falls Rd Brooklandville MD 21022 520591463 501(c)(3) 38299 SHDF, Annual Fund Gift, and 1 Emergency Fund grant The Jemicy School Inc 11 Celadon Rd Owings Mills MD 21117 520976194 501(c)(3) 18678 SHDF, Annual Fund Gift, and Chick Lord Fund Bryn Mawr School 109 W Melrose Ave Baltimore MD 21210 520258140 501(c)(3) 46448 SHDF, Annual Fund Gift, and 3 Emergency Fund grants Roland Park Country School Inc 5204 Roland Ave Baltimore MD 21210 520591631 501(c)(3) 34394 SHDF, Annual Fund Gift, and Gap Funding grant The Boys' Latin School of Maryland 822 W Lake Ave Baltimore MD 21210 520735085 501(c)(3) 37326 SHDF, Annual Fund Gift, Gap Funding grant, and Stanley I Panitz award The Park School of Baltimore PO Box 8200 Brooklandville MD 21022 520591625 501(c)(3) 28928 SHDF, and Annual Fund Gift Garrison Forest School Inc 300 Garrison Forest Rd Owings Mills MD 21117 520591516 501(c)(3) 27018 SHDF, Annual Fund Gift, and Stanley I Panitz award St Paul's School for Girls Inc 11232 Falls Rd Brooklandville MD 21022 520709497 501(c)(3) 37235 SHDF, Annual Fund Gift, and 3 Emergency Fund grants McDonogh School PO Box 380 Owings Mills MD 21117 526001577 501(c)(3) 30984 SHDF, Annual Fund Gift, and 1 Emergency Fund grant Friends School of Baltimore Inc 5114 North Charles St Baltimore MD 21210 520591602 501(c)(3) 35898 SHDF, Annual Fund Gift, and 2 Emergency Fund grants Calvert School Inc 105 Tuscany Rd Baltimore MD 21210 520591510 501(c)(3) 26579 SHDF, Annual Fund Gift, and 1 Emergency Fund grant Maryvale Preparatory School 11300 Falls Rd Lutherville MD 21093 521160935 501(c)(3) 31007 SHDF, Annual Fund Gift, and 2 Emergency Fund grants Severn School Inc 201 Water St Severna Park MD 211464599 520591466 501(c)(3) 21634 SHDF, Annual Fund Gift, and 1 Emergency Fund grant Oldfields School Inc 1500 Glencoe Rd Glencoe MD 21152 520591645 501(c)(3) 16372 SHDF, Annual Fund Gift, and Stuart O. Simms' Pres. Fund Grant Key School Inc 543 Hillsmere Dr Annapolis MD 21403 520701774 501(c)(3) 18844 SHDF, and Annual Fund Gift The Waldorf School of Baltimore Inc 4801 Tamarind Rd Baltimore MD 21209 237305478 501(c)(3) 16066 SHDF, and Annual Fund Gift Corporation of St Timothy's School 8400 Greenspring Ave Stevenson MD 21153 520591488 501(c)(3) 15644 SHDF, and Annual Fund Gift 18 Part I, Line 2: When B.E.S.T. provides grants for Annual Fund gifts, the School Head's Discretionary Fund, Emergency Fund, Chick Lord Scholar, Gap Fund, and the Stanley I Panitz Award, we send a check and a letter to each of the schools, stating the intended use of the money being sent to the schools. Annual Fund gifts are provided to our member schools to support student financial aid. The Annual Fund gift letters state the amount of the grant awarded to each school as a directed gift to the school's financial aid budget. The purpose of the School Head's Discretionary Fund (SHDF) at the Baltimore Educational Scholarship Trust is to provide school Heads auxiliary funding to support B.E.S.T. students on their campuses. The support can include necessary services as well as experiential learning opportunities at the discretion of the School Head. The funds may not be used to supplement tuition. Each year the school must submit a detailed report to B.E.S.T. on how the funds were used. Emergency Funds are provided to our member schools to support B.E.S.T. students currently enrolled who experience financial difficulties with regards to meeting their tuition obligation. The requests for Emergency Funding come from the school. Emergency Fund grant letters state the amount of tuition assistance and the student's name. The fund provides tuition support and allows students to remain enrolled at their school. Chick Lord Scholar gifts are provided to the specific member school with a Chick Lord Scholar. B.E.S.T. pays 75% of the current tuition for the Chick Lord Scholar. There was one Chick Lord Scholar for fiscal year 2018. The Chick Lord Scholar attended Jemicy for one month of the school year during fiscal year 2018. Gap Funds are a one-time grant to member schools. These grants help a new B.E.S.T. applicant to enroll at their new member school. B.E.S.T. pays a portion of the tuition to support the student during their initial enrollment year, and the school makes a commitment to cover the difference moving forward. Gap Funding grant letters state the amount and the student's name. The Stanley I. Panitz Leadership Award is presented annually to 2 students selected from the entire pool of B.E.S.T. juniors attending our member schools. Students are nominated to receive the Stanley I. Panitz Leadership Award by their Head of School during the second semester of their junior year. The recipients of the award are one B.E.S.T. young woman and one B.E.S.T. young man, in recognition of their academic achievement and demonstrated leadership in both their school and the broader Baltimore community. The award is a $1,000 directed gift from the Stanley I. Panitz Leadership Fund of B.E.S.T. to each recipient's independent school to be applied to the family contribution of their student's senior year tuition. The Stuart O. Simms' President Fund provides special funding for those expenses that Head's Discretionary Fund and Emergency Fund cannot cover due to restrictions or limits to those funding streams. The Simms' Fund is available for special circumstances that the B.E.S.T. student may encounter during their tenure at their member school. Examples of those expenses include but are not limited to significant transportation costs; the opportunity to take part in an international or national program; and psychoeducational testing. Copies of the checks and the grant letters sent to the schools are maintained in files in B.E.S.T.'s finance department. Form 990, Part VI, Section B, line 11b A copy of the Form 990 is distributed to the Ad-Hoc Audit Committee of the Board so they may review, edit, and approve the document. Once the draft is reviewed, edited, and approved, the Form 990 is distributed to the Finance Committee. Once the Finance Committee approves the document, the Form 990 is considered complete and the Executive Director signs the final version. Form 990, Part VI, Section B, line 12c All trustees are required each year to sign the conflict of interest policy. The signed trustee forms are stored at B.E.S.T. in the Trustee's individual files in the Executive Office. If a conflict exists with a Trustee, the Board President, in conjunction with the Executive Committee, would review. If a conflict exists with the Board President, the Executive Committee would review. All employees sign the conflict of interest policy every year and their forms are filed in their personnel files. If a conflict exists with an employee, the Executive Director would review with the Board President. If a conflict of interest exists with the Executive Director, the Board Chair in conjunction with the Executive Committee would review. Form 990, Part VI, Section B, line 15 Research of salaries for similar positions and similar organizations is reviewed and compared every few years. The Board President and Executive Committee reviewed the salary of the Executive Director. The Executive Director reviewed the salary for the Admissions and Data Base Manager, the Director of Enrollment Management, the Director of Finance and Operations, the Director of Advancement, the Director of Programs and Alumni Relations, and the Development and Program Associate. Form 990, Part VI, Section C, line 19 The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part XII Line 2c. The process has not changed from the prior year.