2019-05-15T11:23:47-05:00 2018-06-30 221478099 COHNREZNICK LLP 7501 WISCONSIN AVENUE SUITE 400E BETHESDA MD 20814 990 2017-07-01 530211355 MARET SCHOOL INC MARE 2029398800 3000 CATHEDRAL AVENUE NW WASHINGTON DC 200083407 WILLIAM S HODGETTS ASSISTANT HEAD: FINANCE & OPS 2029398800 2019-05-14 1 GLENN M SHELTON P00228007 3016529100 2019-05-14 209.3.217.20 2019-05-14 16:29:11 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 90CC17281F34CD083B051E620E31C1B2A26173FC 2017 2019-02-21 02:37:17Z MARJO TALBOTT 3000 CATHEDRAL AVENUE NW WASHINGTON DC 200083407 33745459 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. 24 24 157 415 0 9083 5595628 5816368 24035446 24625563 1003977 1072101 398932 486522 31033983 32000554 4100123 4429304 0 0 16134231 15861544 0 0 705900 8938178 9087558 29172532 29378406 1861451 2622148 84146034 88927968 28695821 29201404 55450213 59726564 X 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. 0 0 24004028 4429304 24625563 PROVIDE EDUCATION TO APPROXIMATELY 645 STUDENTS, FROM KINDERGARTEN THROUGH GRADE TWELVE. 24004028 1 1 0 0 0 0 0 0 0 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 1 162 0 1 157 1 1 1 0 0 0 0 1 1 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X ROBERT MCCARTHY 2029398800 3000 CATHEDRAL AVE NW WASHINGTON DC 20008 MARY MENELL ZIENTS PRESIDENT 2.00 0.00 X X 0 0 0 IAN CAMERON VICE PRESIDENT 2.00 0.00 X X 0 0 0 TRAVIS ALLEN TREASURER 2.00 0.00 X X 0 0 0 DIANE MOONEY SECRETARY 2.00 0.00 X X 0 0 0 ESMA AKIN TRUSTEE 2.00 0.00 X 0 0 0 M JAMES BARRETT TRUSTEE 2.00 0.00 X 0 0 0 KEN BROTMAN TRUSTEE 2.00 0.00 X 0 0 0 LEIGH COMAS TRUSTEE 2.00 0.00 X 0 0 0 E KAY COWAN TRUSTEE 2.00 0.00 X 0 0 0 ARI FITZGERALD TRUSTEE 2.00 0.00 X 0 0 0 DANIEL HARTMAN TRUSTEE 2.00 0.00 X 0 0 0 MARGARET JOHNSON TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL KIRSHBAUM TRUSTEE 2.00 0.00 X 0 0 0 MARC LAMPKIN TRUSTEE 2.00 0.00 X 0 0 0 TOM MONAHAN TRUSTEE 2.00 0.00 X 0 0 0 VADIM NIKITINE TRUSTEE 2.00 0.00 X 0 0 0 MICHELE NORRIS-JOHNSON TRUSTEE 2.00 0.00 X 0 0 0 CASSIE MELTZER PERGAMENT TRUSTEE 2.00 0.00 X 0 0 0 ANDREA REID TRUSTEE 2.00 0.00 X 0 0 0 LARRY SIEGEL TRUSTEE 2.00 0.00 X 0 0 0 TED STETTINIUS TRUSTEE 2.00 0.00 X 0 0 0 AAKASH THAKKAR TRUSTEE 2.00 0.00 X 0 0 0 STEVEN VANROEKEL TRUSTEE 2.00 0.00 X 0 0 0 MURIEL MAIGNAN WILKINS TRUSTEE 2.00 0.00 X 0 0 0 MARY JOSEPHINE TALBOTT HEAD OF SCHOOL 50.00 0.00 X 494217 0 111275 WILLIAM HODGETTS ASSIST. HEAD: FINANCE (START 07/2017) 50.00 0.00 X 130600 0 25525 SALLY DUNKELBERGER DIRECTOR OF DEVELOPMENT 50.00 0.00 X 201823 0 31865 STEVEN TEJADA DIRECTOR OF UPPER SCHOOL 50.00 0.00 X 169694 0 29108 JAIME ESTRADA LANGUAGE DEPT. CHAIR 50.00 0.00 X 157208 0 25368 SUSAN EPPS ASSIST. HEAD: FACULTY DEV. 50.00 0.00 X 155496 0 12800 ANNIE FARQUHAR DIRECTOR OF ADMISSIONS 50.00 0.00 X 152046 0 27962 CHRISTINA KYONG DIRECTOR OF MIDDLE SCHOOL 50.00 0.00 X 144200 0 11600 DARWIN WALKER ASSIST. HEAD: FINANCE (UNTIL 06/2017) 50.00 0.00 X 143725 0 28844 1749009 0 304347 28 1 1 0 COX GRAAE & SPACK ARCHITECTS 2909 M STREET NW WASHINGTON DC 20007 ARCHITECTURAL SERVICES 179490 ARMFIELD HARRISON & THOMAS INC 20 SOUTH KING STREET LEESBURG VA 20175 INSURANCE BROKERAGE & CONSULTING FIRM 172138 2 617550 5198818 569782 5816368 TUITION AND FEES 900099 23600776 23600776 SUMMER PROGRAMS 900099 924443 924443 STUDENT ACTIVITIES 900099 100344 100344 24625563 1076001 1076001 1545130 400 1549430 0 -4300 400 -3900 -3900 518593 617550 195475 323118 323118 OTHER INCOME 900099 163404 163404 163404 32000554 24625563 0 1558623 4429304 4429304 1126811 866360 231190 29261 12059285 9279524 2450479 329282 770255 586343 183912 980339 762559 140408 77372 924854 726523 191693 6638 34735 34735 29700 29700 163546 163546 1390103 488354 872949 28800 3386 3386 394540 108453 220314 65773 187942 174472 13470 404779 404779 138862 50110 86687 2065 128607 100203 24715 3689 607622 607622 2144555 2144555 182568 182568 SCHOOL LUNCH PROGRAM 1140311 1140311 SCHOOL DEPARTMENT EXPEN 908060 908060 MISCELLANEOUS 573978 466681 107297 OTHER OPERATING COSTS 419064 419064 235200 4216520 -4023573 42253 29378406 24004028 4668478 705900 8470041 10044447 2298652 1979298 216228 171679 191884 271145 55156786 23921159 30463685 31235627 42505544 45225772 84146034 88927968 1033674 2863512 10585784 10276590 14203278 13789010 2873085 2272292 28695821 29201404 X 29916376 30484533 8903377 12556155 16630460 16685876 55450213 59726564 84146034 88927968 2622148 1654203 0 X 0 1 X 1 0 X 21451212 55416 936647 567488 21875787 20008466 116881 2007132 681267 21451212 20687546 394857 -471917 602020 20008466 21643186 95936 -391311 660265 20687546 19336785 225232 2579816 498647 21643186 0.00000 0.76280 0.23720 0 0 126082 126082 47969070 18497423 29471647 2243809 1721296 522513 4184422 3109100 1075322 633403 593340 40063 31235627 AMOUNTS HELD ON BEHALF OF OTHERS 380307 DEFERRED COMPENSATION 622716 CAPITAL LEASE OBLIGATION 48575 INTEREST RATE SWAP MARKET VALUATION 1220694 2272292 X 29420528 956762 -3731863 -2775101 32195629 -195075 -195075 32000554 25144177 195075 195075 24949102 4429304 4429304 29378406 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 DID NOT HAVE ANY UNRELATED BUSINESS INCOME DURING THE YEARS ENDED JUNE 30, 2018 AND 2017. ACCORDINGLY, THESE STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES. 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 2015 REMAIN OPEN. THE SCHOOL HAS ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN INCOME TAX POSITIONS. DURING THE YEARS ENDED JUNE 30, 2018 AND 2017, 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: UNREALIZED GAIN ON SWAP AGREEMENT 697,441. FINANCIAL AID TO STUDENTS -4,429,304. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -195,475. GAIN INCLUDED WITH EXPENSES ON AUDITED FINANCIAL STATEMENTS 400. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 195,475. GAIN INCLUDED WITH EXPENSES ON AUDITED FINANCIAL STATEMENTS -400. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID TO STUDENTS 4,429,304. 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 1136143 617550 518593 11890 100899 82686 1136143 617550 518593 11890 100899 82686 195475 323118 1 FINANCIAL AID 160 4429304 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 419217 0 0 0 75000 0 101203 0 10072 0 605492 0 0 0 WILLIAM HODGETTS ASSIST. HEAD: FINANCE (START 07/2017 130600 0 0 0 0 0 21200 0 4325 0 156125 0 0 0 SALLY DUNKELBERGER DIRECTOR OF DEVELOPMENT 201823 0 0 0 0 0 16757 0 15108 0 233688 0 0 0 STEVEN TEJADA DIRECTOR OF UPPER SCHOOL 169694 0 0 0 0 0 14000 0 15108 0 198802 0 0 0 JAIME ESTRADA LANGUAGE DEPT. CHAIR 157208 0 0 0 0 0 12188 0 13180 0 182576 0 0 0 SUSAN EPPS ASSIST. HEAD: FACULTY DEV. 155496 0 0 0 0 0 12800 0 0 0 168296 0 0 0 ANNIE FARQUHAR DIRECTOR OF ADMISSIONS 152046 0 0 0 0 0 12854 0 15108 0 180008 0 0 0 CHRISTINA KYONG DIRECTOR OF MIDDLE SCHOOL 144200 0 0 0 0 0 11600 0 0 0 155800 0 0 0 DARWIN WALKER ASSIST. HEAD: FINANCE (UNTIL 06/2017 143725 0 0 0 0 0 24118 0 4726 0 172569 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 AND THE FORMER ASSISTANT HEAD OF SCHOOL FOR FINANCE AND OPERATIONS PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN (SECTION 457F). THE SCHOOL MADE A CONTRIBUTION OF $79,603 ON BEHALF OF THE HEAD OF SCHOOL AND A CONTRIBUTION OF $2,118 ON BEHALF OF THE FORMER ASSISTANT HEAD OF SCHOOL INTO THIS PLAN IN 2017. A DISTRICT OF COLUMBIA 536001131 2548394P5 2009-10-07 17335000 REFINANCE TAX EXEMPT BONDS 0 0 0 A 3321928 17335000 17335000 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 1 1 1 SUNTRUST BANK 15.000000000000 0 0 0 0 0 A 0 SCHEDULE K, PART III, LINE 9 NONQUALIFIED BOND: THE BOND REFERENCED IS A BANK QUALIFIED BOND SCHEDULE K, PART IV, LINE 2C REBATE COMPUTATION DATE: THE REBATE COMPUTATION CALCULATION WAS LAST PERFORMED ON NOVEMBER 21, 2018, SHOWING NO AMOUNT DUE. 175185 FINANCIAL AID TUITION ASSISTANCE X 14 263862 FMV X AUCTION ITEMS 606 305890 FMV 0 0 0 PART I, COLUMN (B): THE AMOUNTS SHOWN IN PART I, COLUMN (B), REPRESENT THE NUMBER OF CONTRIBUTIONS. 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.