2017-05-11T12:22:14-05:00 2016-06-30 202153727 SB & Company LLC 200 International Circle Suite 5500 Hunt Valley MD 21030 990 2015-07-01 274400615 FIVE SMOOTH STONES FOUNDATION FIVE 4109291899 4 W Read St Baltimore MD 21201 Jack Pannell President/Founder 4109291899 2017-05-11 1 Sheila Eichelberger P00743897 4105840060 2017-05-11 2015 2021-01-29 14:40:06Z Jack Pannell 4 W Read St Baltimore MD 21201 2698017 0 X www.baltimorecollegiate.org X 2010 MD Baltimore Collegiate School for Boys is established to seek out, find and advance forward the next generation of young men who, through the finest liberal arts education possible, will become responsible citizens trained to lead and serve in our community, the nation and the world. 7 6 11 25 0 0 240897 2677357 0 0 65 -9508 0 0 240962 2667849 0 0 0 0 67046 1932764 0 0 112171 126672 724521 193718 2657285 47244 10564 121219 158667 117879 186924 3340 -28257 X Baltimore Collegiate School for Boys is established to seek out, find and advance forward the next generation of young men who, through the finest liberal arts education possible, will become responsible citizens trained to lead and serve in our community, the nation and the world. 0 0 2336909 The Five Smooth Stones Foundation is committed to transforming a generation of boys and young men in Baltimore City through the finest educational opportunities possible. The Foundation was organized to launch Baltimore Collegiate School for Boys and is the operator of the first all-boys public charter school in Baltimore City designed with an integrated curriculum and academic program from grade 4 through grade 12. 2336909 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 19 0 1 11 1 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 0 0 MD X The Organization 4109291899 4 W Read St Baltimore MD 21201 Jack Pannell Founder & President 40.00 X X 91313 0 2989 Betsey Hobelmann Chair 5.00 X X 0 0 0 Josh Eastright Treasurer 2.00 X X 0 0 0 Kimberly Moffitt Secretary 2.00 X X 0 0 0 Edwin Avent Member 2.00 X 0 0 0 Kate Jordan Member 2.00 X 0 0 0 Mark Mullican Member 2.00 X 0 0 0 91313 0 2989 0 0 0 0 0 212021 2465336 2677357 19439 1221 19318 10850 121 -9629 -9508 -9508 2667849 0 0 -9508 94302 94302 1477700 1378154 26067 73479 241923 217413 12401 12109 118839 105495 7468 5876 118747 94970 23777 30436 27019 1912 1505 318640 279362 26716 12562 5113 5057 31 25 23506 20866 1477 1163 9809 7847 1962 Student expenses 138244 138244 Professional developmen 49519 39021 9673 825 Telephone and telecommu 15210 13502 956 752 Miscellaneous expenses 12175 7187 1267 3721 3122 2772 196 154 2657285 2336909 208205 112171 69601 15733 2263 6286 48934 33879 1756 120541 19528 0 101013 421 121219 158667 35599 106186 20000 20000 62280 60738 117879 186924 X 3340 -28257 3340 -28257 121219 158667 10564 -440 -41721 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 115542 18695 96847 4999 833 4166 101013 Short-Term Debt 60738 60738 X 2667409 -440 -440 2667849 0 2667849 2657285 0 2657285 0 2657285 Part X, Line 2: The Foundation is exempt from the payment of income taxes on income other than net unrelated business income under Section 501(c) (3) of the Internal Revenue Code. The provisions included in accounting principles generally accepted in the United States of America provide consistent guidance for the accounting for uncertainty in income taxes recognized in an entity's financial statements and prescribe a threshold of "more likely than not" for recognition of tax positions taken or expected to be taken in a tax return. The Foundation performed an evaluation of uncertain tax positions as of June 30, 2016, and determined that there were no matters that would require recognition in the financial statements or that may have any effect on its tax-exempt status. As of June 30, 2016, the statute of limitations for fiscal years 2013 through 2016 remain open with the U.S. Federal jurisdiction or the state and local jurisdiction in which the Foundation files tax returns. It is the Foundation's policy to recognize interest and/or penalties related to uncertain tax positions, if any, as income tax expense. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The organization includes its non-discrimination policy on its website and online and offline admission application. Schedule E, Part I, Line 6 The organization received funding from the U.S. Department of Education Charter Schools Program (84.282B) for planning, program design and implementation activities. Betsey Hobelmann Chair Support the organization X 20000 20000 0 1 1 20000 Form 990, Part VI, Section A, line 8b There is no committee that has authority to act on behalf of the governing body. Form 990, Part VI, Section B, line 11 Senior management reviews the 990 after it is prepared by external CPA firm. The Finance Committee then reviews the 990, followed by the full Board of Trustees. Form 990, Part VI, Section B, line 12c New Board members sign a conflict of interest statement. Existing Board members annually attest and sign the conflict of interest statement at the annual meeting. If a potential conflict of interest exists, the Board will discuss and ask for legal review, if necessary. Form 990, Part VI, Section B, line 15a A compensation committee was formed, which researched executive director compensation at other charter schools in the Baltimore area, based on size of school, when the school started, etc. The committee then submitted this information to the full Board of Trustees, along with a salary recommendation. The full Board negotiated final terms with the Executive Director, in consultation with legal counsel. Form 990, Part VI, Section C, line 19 Available upon request. Form 990, Part XII, Line 2c: The Finance Committee meets on a monthly basis to review interim financial statements and also reviews the year-end financial statements prepared by management in advance of the independent audit. In addition, the Finance Committee has primary responsibility to vet and hire the independent auditor, review the audit process and approve the audit before it is presented to the full Board of Trustees. Form 990, Part XI, Line 8: Prior period adjustment is due to restatement of beginning balance of net assets.