2017-04-24T12:34:40-05:00 2016-06-30 411944416 RSM US LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2015-07-01 530196507 THE HOLTON-ARMS SCHOOL HOLT 3013655300 7303 RIVER ROAD BETHESDA MD 20817 SUSANNA A JONES HEAD OF SCHOOL 3013655300 2017-04-21 1 WILLIAM E TURCO CPA P00369217 3012963600 2015 2021-01-29 14:40:06Z SUSANNA A JONES 7303 RIVER ROAD BETHESDA MD 20817 48458747 0 X WWW.HOLTON-ARMS.EDU X 1964 MD A PRIVATE EDUCATIONAL INSTITUTION FOR GIRLS IN GRADES THREE THROUGH TWELVE. 22 21 530 250 0 0 2752105 3892822 26669804 28623582 1841048 907529 554708 496418 31817665 33920351 3639846 3847841 0 0 18090225 19410261 0 0 1505822 10641297 10862267 32371368 34120369 -553703 -200018 101497868 99790243 33547463 34247458 67950405 65542785 THE MISSION OF THE HOLTON-ARMS SCHOOL IS TO CULTIVATE THE UNIQUE POTENTIAL OF YOUNG WOMEN THROUGH THE "EDUCATION NOT ONLY OF THE MIND, BUT OF THE SOUL AND SPIRIT." 0 0 27169188 3847841 28682752 FOUNDED IN 1901, HOLTON-ARMS IS A COLLEGE-PREPARATORY SCHOOL FOR GIRLS GRADES 3-12. THE SCHOOL PROVIDES RIGOROUS AND DYNAMIC PROGRAMS IN THE TRADITIONAL ACADEMIC AREAS, THE FINE AND PERFORMING ARTS, AND ATHLETICS. THE SCHOOL IS ACCREDITED BY: MIDDLE STATES ASSOCIATION OF COLLEGES AND SCHOOLS; ASSOCIATION OF INDEPENDENT MARYLAND SCHOOLS; AND LICENSED IN THE STATE OF MARYLAND. 27169188 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 1 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 36 0 1 530 1 0 0 0 0 0 1 1 0 0 0 0 X 22 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X JANICE DEMARE-EXECUTIVE ASSISTANT TO THE HEAD OF SCHOOL 3013656007 7303 RIVER ROAD BETHESDA MD 20817 MARTHA DIPPELL CHAIR 10.00 X X 0 0 0 MARY WALLACK PRESIDENT 10.00 X X 0 0 0 LORI S LARSON TREASURER 3.00 X X 0 0 0 EILEEN ZOLA JOSEPH SECRETARY 3.00 X X 0 0 0 SHARLENE PETRY AMITAY TRUSTEE 3.00 X 0 0 0 LESLIE ARMITAGE TRUSTEE 3.00 X 0 0 0 ALEX BARTH TRUSTEE 3.00 X 0 0 0 ADRENA IFILL BLAGBURN TRUSTEE 3.00 X 0 0 0 CAROL CALOMIRIS-EDMUNDS TRUSTEE 3.00 X 0 0 0 TONY CAPUANO TRUSTEE 3.00 X 0 0 0 RAUL FERNANDEZ JR TRUSTEE 3.00 X 0 0 0 SANDRA ENGLE GICHNER TRUSTEE 3.00 X 0 0 0 ANNA-LIZA HARRIS TRUSTEE 3.00 X 0 0 0 CLAUDIA MISPIRETA HINSCH TRUSTEE 3.00 X 0 0 0 SASSAN KIMIAVI TRUSTEE 3.00 X 0 0 0 JOHN KLICK TRUSTEE 3.00 X 0 0 0 NICOLE Y LAMB-HALE TRUSTEE 3.00 X 0 0 0 ERIC MOCKLER TRUSTEE 3.00 X 0 0 0 DAVID POLLIN TRUSTEE 3.00 X 0 0 0 ANDREW SCHWARTZBERG TRUSTEE 3.00 X 0 0 0 CYNTHIA STROMAN TRUSTEE 3.00 X 0 0 0 R HOWARD TAYLOR III TRUSTEE 3.00 X 0 0 0 SUSANNA A JONES HEAD OF SCHOOL 40.00 X 421278 0 144550 TRACEY L FUDGE DIRECTOR, FINANCE & OPERATIONS 40.00 X 232501 0 28021 ANGELA WILLINGHAM DIRECTOR, INSTITUTIONAL ADVANCEMENT 40.00 X 172045 0 13400 SHARRON K RODGERS DIRECTOR, ENROLLMENT 40.00 X 158045 0 31931 ELIZABETH GLEN PENCE DIRECTOR, UPPER SCHOOL 40.00 X 153507 0 83638 PATRICK MARTIN BANE DIRECTOR, LOWER SCHOOL 40.00 X 141205 0 10151 ANTHONY JAMES SHAWE DIRECTOR, MIDDLE SCHOOL 40.00 X 136246 0 36564 1414827 0 348255 30 0 1 0 MERIWETHER GODSEY 4944 OLD BOONSBORO ROAD LYNCHBURG VA 24503 FOOD SERVICE 1010157 CLEANERS OF AMERICA 3710 GENERAL WASHINGTON DRIVE SUITE ALEXANDRIA VA 22312 JANITORIAL SERVICES 365826 THE STONEHOUSE GROUP 301 BROADWAY SUITE 400 BETHLEHEM PA 18015 FACILITIES MANAGEMENT 154502 POOLE LANDSCAPING 7802 BIGGS FORD ROAD FREDERICK MD 21701 GROUNDS/LANDSCAPING 125164 NTIVA 7900 WESTPARK DRIVE SUITE A MCLEAN VA 22102 CONSULTING 115893 9 3892822 315043 3892822 EDUCATIONAL PROGRAM 900099 28394659 28394659 STUDENT SUPPORT SERVIC 900099 228923 228923 28623582 1158173 1158173 282655 0 282655 282655 282655 14041021 14291665 -250644 -250644 -250644 229474 102710 126764 126764 171850 144021 27829 27829 OTHER INCOME 900099 59170 59170 59170 33920351 28682752 0 1344777 3847841 3847841 638703 39870 558963 39870 14918172 12262878 2024667 630627 1077575 1077575 1663165 1565873 97292 1112646 1112646 50760 50760 68112 68112 144009 144009 41131 41131 333199 333199 142398 62605 79793 289637 289637 1897726 1842816 54910 226204 200107 9944 16153 908953 908953 2357304 1806891 410227 140186 262266 262266 STUDENT SUPPORT 1112156 1112156 ACAD PRGRM & STDNT ACTI 907671 907671 SPECIAL PROGRAMS & CS 771146 764817 6329 FUNDRAISING 581694 581694 767901 275805 492096 34120369 27169188 5445359 1505822 11461 22333 10312642 11792793 370637 1621005 126792 38225 43443 32165 934243 980853 76156210 40302401 37310888 35853809 30751450 34629859 21167370 14430695 373736 352866 95206 35640 101497868 99790243 2710049 2395031 8745509 9795547 21352201 21345513 739704 711367 33547463 34247458 X 59656753 55819871 1784140 2378950 6509512 7343964 67950405 65542785 101497868 99790243 -200018 -2207602 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 47186347 5073597 -1571024 4023489 46665431 49421773 1515265 757948 4508639 47186347 47786443 1176499 8161965 7703134 49421773 43914123 1240405 6135241 3503326 47786443 51482743 1310390 774259 4544808 5108461 43914123 0.78000 0.17000 0.05000 0 0 3961813 3961813 62159180 32188983 29970197 5957329 4887232 1070097 4077888 3226186 851702 35853809 14430695 F 14430695 FUNDS HELD FOR OTHERS 675727 DEFERRED COMPENSATION 35640 711367 X 30548787 -3474286 -3474286 34023073 144009 -246731 -102722 33920351 30748805 246731 246731 30502074 144009 3474286 3618295 34120369 PART V, LINE 4: THE BOARD OF TRUSTEES SETS THE ANNUAL SPENDING POLICY FOR THE ENDOWMENT AND RESERVES TO BALANCE THE GOALS OF PROVIDING SUPPORT FOR CURRENT OPERATIONS AND MAINTAINING LONG-TERM ASSETS FOR THE FUTURE NEEDS OF THE SCHOOL. 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. THE SCHOOL ADOPTED THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (FASB ASC TOPIC 740-10), WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE SCHOOL MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50 PERCENT LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES AND ACCOUNTING FOR INTERIM PERIODS. 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 TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. 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 2013. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST TUITION REVENUE -3,440,853. TRANSFER TO FUNDS HELD FOR OTHERS -33,433. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON LINE 10B -144,021. SPECIAL EVENT EXPENSES REPORTED ON LINE 8B -102,710. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON LINE 10B 144,021. SPECIAL EVENT EXPENSES REPORTED ON LINE 8B 102,710. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST TUITION REVENUE 3,440,853. TRANSFER TO FUNDS HELD FOR OTHERS 33,433. 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 RACIAL NONDISCRIMINATION POLICY IS PUBLICIZED THROUGH PRINTED MATERIALS, PERIODIC ADVERTISEMENTS AND THROUGH THE ORGANIZATION'S WEBSITE. CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES GLOBAL EDUCATION - BELIZE 1856 SOUTH AMERICA 0 0 PROGRAM SERVICES GLOBAL EDUCATION - PERU 3208 SOUTH ASIA 0 0 PROGRAM SERVICES GLOBAL EDUCATION - INDIA 70379 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES LANGUAGE IMMERSION - FRANCE 19324 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES GLOBAL EDUCATION - CHINA 31377 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 9556568 0 0 0 0 0 0 9682712 0 9682712 1 0 0 0 0 0 AUCTION 229474 229474 57107 5850 39753 229474 229474 57107 5850 39753 102710 126764 1 FINANCIAL AID 151 3586541 SCHOLARSHIP 6 30800 RECIPROCAL TUITION REMISSION 12 230500 PART I, LINE 2: THE SCHOOL AWARDS FINANCIAL AID BASED ON THE DECISION OF THE SCHOOL'S FINANCIAL AID COMMITTEE WHICH USES AN INDEPENDENT THIRD PARTY TO ESTABLISH THE NEED OF THE RECIPIENTS. GRANT SUPPORT - THE ALUMNAE SCHOLARSHIP OF $15K IS AWARDED TO AN 11TH GRADE STUDENT BASED ON AN APPLICATION PROCESS. THE ACWORTH SCHOLARSHIPS SUPPORT TWO STUDENTS WITH $5K ANNUAL AWARDS EACH BASED ON FINANCIAL NEED AND OTHER CRITERIA ESTABLISHED BY THE ACWORTH FOUNDATION. RECIPROCAL TUITION REMISSION - THE SCHOOL HAS A RECIPROCAL AGREEMENT WITH ANOTHER PRIVATE EDUCATIONAL INSTITUTION. X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 SUSANNA A JONES HEAD OF SCHOOL 372278 0 31000 0 18000 0 59722 0 93238 0 574238 0 0 0 TRACEY L FUDGE DIRECTOR, FINANCE & OPERATIONS 232501 0 0 0 0 0 18733 0 10058 0 261292 0 0 0 ANGELA WILLINGHAM DIRECTOR, INSTITUTIONAL ADVANCEMENT 172045 0 0 0 0 0 13400 0 664 0 186109 0 0 0 SHARRON K RODGERS DIRECTOR, ENROLLMENT 158045 0 0 0 0 0 13167 0 19419 0 190631 0 0 0 ELIZABETH GLEN PENCE DIRECTOR, UPPER SCHOOL 153507 0 0 0 0 0 13461 0 70844 0 237812 0 0 0 PATRICK MARTIN BANE DIRECTOR, LOWER SCHOOL 141205 0 0 0 0 0 10151 0 572 0 151928 0 0 0 ANTHONY JAMES SHAWE DIRECTOR, MIDDLE SCHOOL 136246 0 0 0 0 0 11664 0 25494 0 173404 0 0 0 PART I, LINE 1A FOLLOWING EMPLOYEES RECEIVED NON-TAXABLE HOUSING BENEFITS: - SUSANNA A. JONES - $54,000 INCLUDING CLEANING SERVICES - ELIZABETH G. PENCE - $40,000 PART I, LINE 4B SUSANNA A. JONES - DEFERRAL UNDER A 457(F) SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN - $38,522 A ECONOMIC DEVELOPMENT REVENUE BONDS (HOLTON-ARMS SCHOOL PROJECT) SERIES 2015 526000980 2015-06-17 21352201 TO RETIRE 2002 SERIES BOND & PROVIDE FINANCING FOR SCHOOL CAPITAL PROJECTS 0 0 0 A 21352201 726504 18352201 2273496 2015 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 4500 FINANCIAL AID TUITION X 19 315043 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 BEFORE THE 990 IS FILED IT WILL GO THROUGH A NUMBER OF REVIEWS. 1. IT WILL BE PRESENTED TO THE AUDIT COMMITTEE AND REVIEWED WITH THE COMMITTEE BY A REPRESENTATIVE OF THE AUDITING FIRM'S TAX DEPARTMENT. 2. ONCE THE AUDIT COMMITTEE APPROVES THE DOCUMENT, IT WILL BE POSTED ON A SECURE WEBSITE FOR REVIEW BY THE ORGANIZATION'S OFFICERS, DIRECTORS, AND BOARD OF TRUSTEES. IT WILL BE LEFT THERE FOR A STATED PERIOD OF TIME AND THEN REMOVED. 3. ONCE WE KNOW THAT THE BOARD HAS BEEN GIVEN ENOUGH TIME FOR THIS REVIEW PROCESS, THEN THE 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, AT THE FIRST BOARD OF TRUSTEE MEETING, WE REQUIRE THAT EVERYONE STATED TO BE INVOLVED IN THIS PROCESS FILL OUT A FORM AND SIGN IT STATING THAT THERE IS NO CONFLICT OF INTEREST. THESE FORMS ARE MAINTAINED BY THE EXECUTIVE ASSISTANT TO THE HEAD OF SCHOOL. FORM 990, PART VI, SECTION B, LINE 15 AT THE TIME OF A NEW HIRE, OR AT CONTRACT TIME FOR THE EXISTING HEAD OF SCHOOL, THE BOARD OF TRUSTEES USES A NUMBER OF METRICS AND CONDUCTS MEETINGS TO DETERMINE EQUITABLE COMPENSATION. EXAMPLES OF THE PROCESS ARE AS FOLLOWS: AN INDEPENDENT COMPENSATION CONSULTANT IS HIRED BY THE BOARD OF TRUSTEES. THE CONSULTANT CONDUCTS A COMPENSATION SURVEY OF COMPETITOR PEER SCHOOLS AND PREPARES A WRITTEN REPORT. THE FORM 990 OF OTHER SIMILAR ORGANIZATIONS, AVAILABLE ON GUIDESTAR, IS ONE FACTOR USED FOR COMPARISON. THE BOARD OF TRUSTEES' COMPENSATION COMMITTEE STUDIES THE CONSULTANT'S REPORT AND OTHER DATA AND RECOMMENDS COMPENSATION AND BENEFITS FOR THE CONTRACT TO THE BOARD OF TRUSTEES. THE EMPLOYMENT CONTRACT IS REVIEWED BY A LEGAL FIRM. THE BOARD OF TRUSTEES DISCUSSES AND VOTES ON THE COMPENSATION COMMITTEE RECOMMENDATION AND ON THE APPROVAL OF THE CONTRACT. 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.