2018-05-15T10:15:41-05:00 2017-06-30 420714325 RSM US LLP 9737 Washingtonian Blvd 400 Gaithersburg MD 20878 990 2016-07-01 520635092 LANDON SCHOOL CORPORATION LAND 3013203200 6101 WILSON LANE BETHESDA MD 20817 Jeremy Kugel COO/CFO 3013203200 2018-05-15 1 WILLIAM E TURCO CPA P00369217 3012963600 2016 2022-09-23 18:48:47Z James Neill 6101 WILSON LANE BETHESDA MD 20817 36133490 0 X WWW.LANDON.NET X 1936 MD Maintaining educational programs for students at the elementary and high school levels. 27 27 345 200 0 0 2391377 2235890 27556475 28878254 -1137343 141331 604339 693314 29414848 31948789 3829796 4056256 0 0 18037545 18429055 0 0 1206254 9159380 9491986 31026721 31977297 -1611873 -28508 41323662 43158797 22377486 22229760 18946176 20929037 Landon School prepares talented boys for productive lives as accomplished, responsible and caring men whose actions are guided by the principles of perseverance, teamwork, honor and fair play. 0 0 26864825 4056256 29052497 MAINTAINING EDUCATIONAL PROGRAMS FOR STUDENTS AT THE ELEMENTARY AND HIGH SCHOOL LEVELS. 26864825 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 75 0 1 345 1 0 0 0 0 0 1 1 0 0 0 0 X 27 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Jeremy Kugel 3013203200 6101 WILSON LANE BETHESDA MD 20817 Joseph Kenary Jr Chairman 1.50 X X 0 0 0 Houston Keith Powell Vice Chairman 1.50 X X 0 0 0 Michelle Freeman Secretary 1.50 X X 0 0 0 Steve Mayer Treasurer 1.50 X X 0 0 0 Anderson Arnold Trustee 1.50 X 0 0 0 Michael Banks Trustee 1.50 X 0 0 0 Michael Connolly Trustee 1.50 X 0 0 0 Mathew A Coursen Trustee 1.50 X 0 0 0 Rob Edwards Trustee 1.50 X 0 0 0 Scott Harris Trustee 1.50 X 0 0 0 Kenneth Jenkins Trustee 1.50 X 0 0 0 Steve Jones Trustee 1.50 X 0 0 0 Douglass Kiker Trustee 1.50 X 0 0 0 Stephan Klingelhofer Trustee 1.50 X 0 0 0 Doug Lagarde Trustee 1.50 X 0 0 0 Amy Ruth Mehlman Trustee 1.50 X 0 0 0 John Oswald Trustee 1.50 X 0 0 0 Tushar Patel Trustee 1.50 X 0 0 0 David Povich Trustee 1.50 X 0 0 0 Martin Weinstein Trustee 1.50 X 0 0 0 Kathy Wellington Trustee 1.50 X 0 0 0 Dale Wolf Trustee 1.50 X 0 0 0 Peter Fitzgerald Sr Trustee 1.50 X 0 0 0 Knight A Kiplinger Trustee 1.50 X 0 0 0 Samuel M Lehrman Trustee 1.50 X 0 0 0 Russel Lindner Trustee 1.50 X 0 0 0 Larry Lamade Trustee 1.50 X 0 0 0 Jim Neill Headmaster 60.00 X 478770 0 92411 Jeremy Kugel CFO/COO 60.00 X 202019 0 39844 Dana Krein Head of Middle School 60.00 X 149357 0 18405 Ehren Federowicz Head of Upper School 60.00 X 123716 0 75933 Randall Bednar Head of Lower School 60.00 X 127285 0 72585 Leonard Armstrong Head of Admissions 60.00 X 149998 0 47884 Barbara Goodwyn Director of Development 60.00 X 136489 0 56483 George Pappas Associate Director of Development 60.00 X 133231 0 9247 David Toomer Director of College Counseling 60.00 X 129108 0 9521 Neil Magsino Information Technology Manager 60.00 X 137284 0 4646 1767257 0 426959 17 0 1 0 Sodexo Inc & Affiliates PO BOX 536922 ATLANTA GA 303536922 FOOD SERVICE 815685 CJ Maintenance Inc 9254 Bendix Road Columbia MD 21045 Facility SErvices 228769 Weaver Bros Insurance Associates 4550 Montgomery Ave Ste 300 North Bethesda MD 20814 Insurance Broker 192243 AWG Dewar 4 Batterymarch Park Quincy MA 02169 Collections Agency 166801 JW Cullop 7404 woodville Road Mt Airy MD 21771 HVAC systems maintenance 152037 10 5504 2230386 85382 2235890 TUITION & FEES 900099 26194070 26194070 AUXILIARY SERVICES 900099 2684184 2684184 28878254 11522 11522 261508 0 261508 261508 261508 3857898 3728089 129809 129809 129809 369254 5504 225828 143426 143426 405027 230784 174243 174243 OTHER INCOME 900099 114137 114137 114137 31948789 29052497 0 660402 4056256 4056256 1467558 1209596 206181 51781 12732888 10461702 1813224 457962 714873 586456 101180 27237 2810974 2420380 321896 68698 702762 560073 112988 29701 47667 47667 87878 87878 98698 98698 608875 371100 165679 72096 38952 13981 23866 1105 755394 595397 130971 29026 131118 53927 77191 1949840 1898554 51286 395523 350980 9576 34967 373979 148338 37770 187871 251228 207840 32208 11180 1839154 1521532 235780 81842 248949 205956 31915 11078 General program expense 1107918 909674 194766 3478 Food services 820911 820911 SUmmer camp 373644 373644 other expenses 362258 98528 125498 138232 31977297 26864825 3906218 1206254 500 500 5640742 6816907 406110 245469 114613 160854 247197 142521 64347 42455 324979 385381 63192567 43345149 20560997 19847418 13422422 15007662 472088 509630 69667 0 41323662 43158797 2050813 1716248 11431566 12422080 7139480 6523368 1035518 1022693 180718 110000 539391 435371 22377486 22229760 X -336838 110267 4692231 6075752 14590783 14743018 18946176 20929037 41323662 43158797 X -28508 1745396 265973 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15211629 152235 1771625 507600 16627889 19046110 170074 -7413 3997142 15211629 20303833 790498 -171347 1876874 19046110 16378060 2316437 1649902 40566 20303833 14510915 1218680 1027253 378788 16378060 0.88660 0.11340 0 0 509249 509249 49135847 30796868 18338979 1814657 1725297 89360 11732814 10822984 909830 19847418 CAPITAL LEASE OBLIGATIONS 157108 INTEREST RATE SWAP AGREEMENT 278263 435371 X 30121741 1745396 11628 -3941986 -2184962 32306703 98698 -456612 -357914 31948789 28390583 11628 456612 468240 27922343 98698 3956256 4054954 31977297 Part V, Line 4: The draw from the endowment is used for scholarships, ethics forums and programs (community service, academics, Athletics). Part X, Line 2: The School is generally exempt from federal and state income taxes under the provisions of Section 501(c)(3) of the Internal Revenue Code. However, the School is subject to income taxes on unrelated business income, as defined by the Internal Revenue Service. During the year ended June 30, 2017, the School had no taxable 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 has taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance. The School files income tax returns in the U.S. federal jurisdiction. Generally, the School is no longer subject to income tax examinations by the U.S. federal, state or local tax authorities for the years before 2014. Part XI, Line 2d - Other Adjustments: FINANCIAL ASSISTANCE NETTED AGAINST TUITION IN THE FINANCIAL STATEMENT -3,956,256. Gain (loss) on Charitable remainder trust 14,270. Part XI, Line 4b - Other Adjustments: Special event expenses recorded on line 8b -225,828. Cost of goods sold reported on line 10b -230,784. Part XII, Line 2d - Other Adjustments: Special event expenses recorded on line 8b 225,828. Cost of goods sold reported on line 10b 230,784. Part XII, Line 4b - Other Adjustments: FINANCIAL ASSISTANCE NETTED AGAINST TUITION IN THE FINANCIAL STATEMENT 3,956,256. 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 announcement is placed in the Washington post newspaper Publicizing the schools nondiscrimination policy. Europe (Including Iceland & Greenland) 0 0 Program services Overseas trips 49731 East Asia and the Pacific 0 0 Program services Overseas trips 30406 Central America and the Caribbean 0 0 Program services Overseas trips 37921 Central America and the Caribbean 0 0 Investments 316946 0 0 0 0 0 0 435004 0 435004 0 0 0 0 0 0 Azalea Festival 275488 5504 269984 175237 Greens Sale 99270 99270 50591 374758 5504 369254 225828 225828 143426 1 Tuition financial aid 166 3956256 Scholarships 12 100000 Part I, Line 2: THE SCHOOL PROVIDES FINANCIAL ASSISTANCE BASED ON BOTH FINANCIAL NEED AND ACADEMIC MERIT. THE SCHOOL HAS AN INDEPENDENT PROCEDURE TO DETERMINE QUALIFICATION FOR FINANCIAL ASSISTANCE. THE SCHOOL HAS STRICT RULES TO PREVENT RELATED PARTIES SUCH AS DISQUALIFIED PERSONS FROM BENEFITING FROM FINANCIAL ASSISTANCE. X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 Jim Neill Headmaster 413000 0 0 0 65770 0 26961 0 75986 0 581717 0 0 0 Jeremy Kugel CFO/COO 181599 0 0 0 20420 0 13101 0 28257 0 243377 0 0 0 Dana Krein Head of Middle School 129025 0 0 0 20332 0 9159 0 10415 0 168931 0 0 0 Ehren Federowicz Head of Upper School 123389 0 0 0 327 0 9049 0 68045 0 200810 0 0 0 Randall Bednar Head of Lower School 125887 0 0 0 1398 0 8992 0 64746 0 201023 0 0 0 Leonard Armstrong Head of Admissions 149418 0 0 0 580 0 7798 0 41423 0 199219 0 0 0 Barbara Goodwyn Director of Development 132199 0 0 0 4290 0 9287 0 48099 0 193875 0 0 0 Part I, Line 1a Tax Gross-up payments were made for various taxable benefits provided to the head of school, James Neill. A NON-TAXABLE HOUSING BENEFIT WAS PROVIDED TO INDIVIDUALS AS A CONDITION OF EMPLOYMENT. THE FOLLOWING INDIVIDUALS RECEIVED THE HOUSING BENEFIT: James Neill - $40,000 Leonard Armstrong - $40,000 Ehren Federowicz - $40,000 Randall Bednar - $40,000 Barbara Goodwyn - $40,000 FOLLOWING INDIVIDUALS RECEIVED THE TAXABLE HOUSING BENEFIT: Jeremy Kugel - $20,000 Dana Krein - $20,000 James Neill received non-taxable personal services in the amount of $8,978. A Maryland Health and Higher Educational Facilities Authority 520936091 2011-06-02 10114264 to refund the 1999 bonds & refinance the entire outstanding loan balance 0 0 0 A 3569741 10114264 107717 10006547 2011 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 1 Suntrust 8.000000000000 0 0 0 0 1 A 1 David Armstrong Former head of school Deferred Comp owed converted to a loan. X 1035518 1022693 0 1 1 1022693 X 24 74949 Average X sports equipment 2 5143 fmv X Gift cards 2 4100 fmv X office supplies 2 1190 fmv 0 1 0 Form 990, Part VI, Section B, line 11b The form 990 is prepared by the outside accounting firm engaged by the school. The return is reviewed by the President, CFO, and Controller before being made available to the Trustees via a secure website. Form 990, Part VI, Section B, line 12c The Conflict of Interest policy is posted to the Board's confidential website portal. Trustees are asked to read the policy at the beginning of each year and advise the Secretary of any issues that might be of concern. Form 990, Part VI, Section B, line 15 The salaries of the officers, key employees are decided by the use of comparable salary data as provided by Independent Educator (IE) and the Association of Maryland Independent Schools. The amount of the final compensation number is then approved by the compensation committee. Form 990, Part VI, Section C, line 19 THE SCHOOL MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS 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 INTEREST RATE SWAP 251,703. Gain (loss) on Charitable remainder trust 14,270. form 990, part XIi, line 2c: the process for overseeing the audit of the financial statements and selection of an independent accountant that audited the financial statements has been consistent with prior years.