2017-05-12T13:32:27-05:00 2016-06-30 420714325 RSM US LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2015-07-01 520613675 GREEN ACRES SCHOOL INC GREE 3018814100 11701 DANVILLE DRIVE ROCKVILLE MD 20852 NEAL BROWN HEAD OF SCHOOL/TRUSTEE 3018814100 2017-05-11 1 WILLIAM E TURCO CPA P00369217 3012963600 2015 2021-01-29 14:40:06Z NEAL BROWN 11701 DANVILLE DRIVE ROCKVILLE MD 20852 13532764 0 X WWW.GREENACRES.ORG X 1934 MD GREEN ACRES SCHOOL INSPIRES AND CHALLENGES STUDENTS TO LIVE AND LEARN WITH INTELLECT, CURIOUSITY, DETERMINATION, JOY, AND COMPASSION. 22 18 174 70 0 0 427362 316479 10449785 10018014 236316 204806 61766 74502 11175229 10613801 1340878 1607865 0 0 6965560 7000345 0 0 411051 3280238 3273911 11586676 11882121 -411447 -1268320 22576248 20897243 9897722 9410132 12678526 11487111 GREEN ACRES SCHOOL CHALLENGES AND INSPIRES STUDENTS TO LIVE AND LEARN WITH INTELLECT, CURIOSITY, DETERMINATION, JOY, AND COMPASSION. 0 0 9433757 1607865 10018014 PRESCHOOL AND ELEMENTARY EDUCATION (NURSERY THROUGH EIGHTH GRADE) FOR OVER 300 CHILDREN CONDUCTED ON PROGRESSIVE LINES IN WHICH THE OBJECTIVE IS TO EMPHASIZE INDIVIDUAL DEVELOPMENT. 9433757 1 1 0 0 0 0 0 0 0 1 1 1 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 0 0 0 0 1 0 0 0 0 0 0 0 0 1 26 0 1 174 1 0 0 0 0 0 1 1 0 0 0 0 X 22 18 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 0 0 MD X CECILY BULLOCK 3018814100 11701 DANVILLE DRIVE ROCKVILLE MD 20852 MICHAEL GABA PRESIDENT 2.00 X X 0 0 0 SARAH WERNER VICE PRESIDENT 2.00 X X 0 0 0 DARRYL EDELSTEIN TREASURER 2.00 X X 0 0 0 RHONDA HENLEY SECRETARY 2.00 X X 0 0 0 ELISE BECHER TRUSTEE 2.00 X 0 0 0 STEVEN BOYLE TRUSTEE 2.00 X 0 0 0 JOE CABUSH TRUSTEE 2.00 X 0 0 0 AMBER JAMIL TRUSTEE 2.00 X 0 0 0 GREG KAUFMANN TRUSTEE 2.00 X 0 0 0 ROBERT KOSASKY TRUSTEE 2.00 X 0 0 0 LINDA MATKOVIC TRUSTEE 2.00 X 0 0 0 JONATHON NEVETT TRUSTEE 2.00 X 0 0 0 JOSH ORENSTEIN TRUSTEE 2.00 X 0 0 0 ADAM PORTER TRUSTEE 2.00 X 0 0 0 MICHAEL RAVITCH TRUSTEE 2.00 X 0 0 0 HOWARD STEINMAN TRUSTEE 2.00 X 0 0 0 CARISA SULEMAN TRUSTEE 2.00 X 0 0 0 ABDULLAH WRIGHT TRUSTEE 2.00 X 0 0 0 KARA COMBS TRUSTEE/TEACHER 40.00 X 72690 0 21983 IRENE MURSHED TRUSTEE/TEACHER 40.00 X 55511 0 3850 LARISSA POWERS TRUSTEE/TEACHER 40.00 X 56065 0 12314 NEAL BROWN HEAD OF SCHOOL 40.00 X X 334130 0 43662 KIRA EBANKS BUSINESS MANAGER 40.00 X 110801 0 30408 MARYLOUISE BRACHO CAMP DIR, LS TEACHER & ADM 40.00 X 115089 0 24319 CECILY G BULLOCK DIRECTOR OF OPERATIONS 40.00 X 134118 0 23477 ANNIE M GROAT DEVELOPMENT & MEDIA RELATION 40.00 X 120551 0 11882 998955 0 171895 5 0 1 0 COUGHLIN TRANSPORTATION 7961 QUEENAIR DRIVE GAITHERSBURG MD 20879 STUDENT TRANSPORTATION 293570 UNIVERSAL JANITORIAL SERVICES INC 3911 OLD LEE HIGHWAY FAIRFAX VA 22030 JANITORIAL SERVICES 235279 PHILLIPS LYTLE 1 CANALSIDE 125 MAIN ST BUFFALO NY 14203 LEGAL 128362 3 11150 305329 74638 316479 TUITION & RELATED FEES 900099 8727332 8727332 AUXILIARY SERVICES 900099 1137425 1137425 TRANSPORTATION FEES 900099 153257 153257 10018014 211416 211416 30580 63143 -32563 -32563 -32563 2810000 2816610 -6610 -6610 -6610 132411 11150 37988 94423 94423 5475 0 5475 5475 5627 1222 4405 4405 OTHER INCOME 900099 2762 2762 2762 10613801 10018014 0 279308 1607865 1607865 769876 567511 202365 4578292 3235085 1123252 219955 273165 173304 72999 26862 977693 626637 263950 87106 401319 258592 108923 33804 98403 95943 1870 590 30402 29642 578 182 14688 14688 81338 79305 1545 488 59048 59048 234438 155300 49207 29931 217387 211953 4130 1304 515893 503100 9723 3070 327612 327612 102580 53554 49026 198256 193299 3767 1190 689096 671869 13092 4135 38639 37673 734 232 SUMMER CAMP 401058 401058 EDUCATION EXPENSES 140830 112593 28237 OTHER EXPENSES 86897 55450 29469 1978 FOOD 37346 36412 710 224 11882121 9433757 2037313 411051 2436160 981612 301258 118879 7725 14500 160574 326470 21778 27145 100941 115485 18551976 9184664 7715544 9367312 3799814 2541476 7759599 7152522 272855 251842 22576248 20897243 186409 181529 3817578 3658759 5766289 5444234 127446 125610 9897722 9410132 X 10518076 9289434 1081731 1108918 1078719 1088759 12678526 11487111 22576248 20897243 X -1268320 76236 669 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8514322 57016 173949 2641794 6103493 8344487 138987 304177 273329 8514322 7348509 409848 993975 407845 8344487 6665283 252864 654593 224231 7348509 6269983 435324 154775 194800 6665282 0.66960 0.15200 0.17840 0 0 757213 757213 16887337 8465256 8422081 907426 719408 188018 9367312 609054 F 77,942-TOTAL BOND MKT INDEX ADMIRAL (VBTLX) 2109448 F 107,596-TOTAL STOCK MARKET INDEX ADMIRAL (VTSAX) 2908875 F 149,524-BROWN ADVISORY MORTGAGE SECURITIES FUND CL INST 1525145 F 7152522 CUSTODIAL ACCOUNTS 44802 DEFERRED COMPENSATION 80808 125610 X 9131849 76236 -1607865 -1531629 10663478 14688 -64365 -49677 10613801 10323264 63696 63696 10259568 14688 1607865 1622553 11882121 PART V, LINE 4: BOARD DESIGNATED NET ASSETS AT JUNE 30, 2016 ARE AVAILABLE FOR THE FOLLOWING PURPOSES: FACULTY SALARY ENHANCEMENT, CAPITAL IMPROVEMENT, HEAD OF SCHOOLSEARCH RESERVE, SHORT-TERM DISABILITY AND PARENTAL LEAVE RESERVE, POOL RESERVE AND PLAYGROUND RESERVE. PERMANENTLY RESTRICTED NET ASSETS AT JUNE 30, 2016 ARE MADE UP OF SCHOLARSHIPS ENDOWMENT FUND, FACULTY SALARY ENHANCEMENT AND M. HIRTZ EARLY CHILDHOOD UNIT FUND. ALL EARNINGS FROM THESE FUNDS ARE REFLECTED AS TEMPORARILY RESTRICTED NET ASSETS UNTIL APPROPRIATED FOR PROGRAM EXPENDITURES. 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. IN ADDITION, THE SCHOOL QUALIFIES FOR CHARITABLE CONTRIBUTION DEDUCTIONS AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. 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, 2016, THE SCHOOL HAD NO TAXABLE UNRELATED BUSINESS INCOME AND, ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REQUIRED IN THE ACCOMPANYING FINANCIAL STATEMENTS. MANAGEMENT HAS EVALUATED THE SCHOOL'S TAX POSITIONS AND HAS CONCLUDED THAT THE SCHOOL HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE DISCLOSURE. GENERALLY, 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 EXPENSE SHOWN NET OF INCOME ON FINANCIAL STATEMENTS -1,607,865. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD PRESENTED ON LINE 10B ON PAGE 9 -1,222. RENTAL EXPENSES PRESENTED ON LINE 6B ON PAGE 9 -63,143. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD PRESENTED ON LINE 10B ON PAGE 9 1,222. RENTAL EXPENSES PRESENTED ON LINE 6B ON PAGE 9 63,143. GAIN ON INTEREST RATE CAP AGREEMENT -669. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSE SHOWN NET OF INCOME ON FINANCIAL STATEMENTS 1,607,865. 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 SCHOOL'S NONDISCRIMINATION POLICY. AUCTION 143561 11150 132411 37988 143561 11150 132411 37988 37988 94423 1 FINANCIAL AID TO STUDENTS 109 1607865 PART I, LINE 2: THE SCHOOL'S FINANCIAL AID PROGRAM IS DESIGNED TO ASSIST FAMILIES WITH NEED BY COVERING A PART OF THE COST OF TUITION AND OTHER EXPENSES AT THE SCHOOL. WE SEND FINANCIAL AID INFORMATION AND APPLICATION MATERIALS TO ALL OF OUR APPLICANT FAMILIES. TO ENSURE OBJECTIVITY, GREEN ACRES SCHOOL SUBSCRIBES TO THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSS) IN PRINCETON, NEW JERSEY. THIS SERVICE REQUIRES THAT PARENTS SEND TO THEM A PARENTS' FINANCIAL STATEMENT WITH A SMALL FEE. WITH THIS INFORMATION, SSS CALCULATES HOW MUCH PARENTS SHOULD BE EXPECTED TO PAY. COPIES OF CURRENT YEAR TAX FORMS MUST ALSO BE SUBMITTED DIRECTLY TO THE SCHOOL. FAMILIES SEEKING FINANCIAL AID MUST APPLY FOR FINANCIAL AID EACH YEAR. AT GREEN ACRES SCHOOL, THE FINANCIAL AID PROCESS IS HANDLED BY OUR BUSINESS OFFICE RATHER THAN BY OUR ADMISSION OFFICE. THIS PLAN SUPPORTS OUR 'NEED BLIND' ADMISSION POLICY. ADMISSION DECISIONS ARE MADE FIRST BY AN ADMISSION COMMITTEE WITHOUT REGARD TO WHICH FAMILIES MAY OR MAY NOT HAVE APPLIED FOR FINANCIAL AID. AFTER ADMISSION DECISIONS ARE MADE, GRANTS ARE DETERMINED FOR ACCEPTED FAMILIES WHO QUALIFY BY A FINANCIAL AID COMMITTEE, CONSISTING OF THE HEAD AND BUSINESS OFFICE STAFF MEMBERS. X 1 1 X X X 0 0 0 0 0 0 0 0 0 NEAL BROWN HEAD OF SCHOOL 290468 0 0 0 43662 0 20309 0 24275 0 378714 0 0 0 CECILY G BULLOCK DIRECTOR OF OPERATIONS 132975 0 0 0 1143 0 9899 0 14256 0 158273 0 0 0 PART I, LINE 1A NEAL BROWN RECEIVED A TAX GROSS-UP ON A TAXABLE BENEFIT REPORTED IN SCHEDULE J, PART II, COLUMN(B)(III) IN THE AMOUNT OF $10,250. A MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY 520936091 2011-09-29 6855000 REPAYMENT OF 1998 AND 2005 BONDS 0 0 0 A 1410766 6855000 133143 6721857 2011 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 0 1 TD BANK 19.500000000000 0 0 0 0 1 A 1 X 4 1840 SELLING PRICE X 30 SELLING PRICE X 1005 SELLING PRICE X 3 8147 COST X 12 1870 SELLING PRICE X 50 20585 SELLING PRICE X AUCTION ITEMS 147 41161 SELLING PRICE 0 1 0 FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION (THE "MEMBERS OR, COLLECTIVELY, THE "MEMBERSHIP") SHALL BE: (A)EACH PARENT, LEGAL GUARDIAN OR CUSTODIAN (HEREAFTER "PARENT") OF A CHILD ENROLLED IN THE SCHOOL, PROVIDED THAT (I) THERE SHALL BE NO MORE THAN TWO PARENTS FOR ANY CHILD AND (II) THE PARENT(S) OF EACH CHILD SHALL BE THOSE PERSONS OR THAT PERSON WHO SIGN THE ENROLLMENT FORM SUBMITTED TO THE SCHOOL AND THEREBY BECOME RESPONSIBLE FOR THE CHILD'S TUITION AND FEES, UNLESS THOSE PERSONS OR THAT PERSON DESIGNATES ON THAT FORM ONE OR TWO OTHER PARENTS FOR MEMBERSHIP PURPOSES; (B)ANY PERSON SERVING AS A TRUSTEE ON THE BOARD; (C)EACH PERSON THAT IS REGULARLY EMPLOYED BY THE SCHOOL (SUCH EMPLOYEES SHALL HEREAFTER BE REFERRED TO AS "STAFF"). FORM 990, PART VI, SECTION A, LINE 7A THERE SHALL BE AN ANNUAL MEETING OF THE MEMBERSHIP FOR THE PURPOSE OF ELECTING TRUSTEES (UNLESS SUCH ELECTION IS CONDUCTED BY REFERENDUM IN ACCORDANCE WITH THESE BY-LAWS). FORM 990, PART VI, SECTION A, LINE 7B THERE SHALL BE AN ANNUAL MEETING OF THE MEMBERSHIP FOR THE PURPOSE OF ELECTING TRUSTEES (UNLESS SUCH ELECTION IS CONDUCTED BY REFERENDUM IN ACCORDANCE WITH THESE BYLAWS), FOR PRESENTING THE BUDGET AND FINANCIAL CONDITION OF THE CORPORATION, AND FOR DISCUSSION OF ANY TOPICS THAT THE BOARD MAY PLACE ON THE AGENDA FOR THE MEETING. IN ADDITION, THE BOARD MAY, AT ITS DISCRETION, SCHEDULE ADDITIONAL SPECIAL MEETINGS OF THE MEMBERSHIP. THE BOARD SHALL DESIGNATE THE SPECIFIC TIMES AND THE AGENDAS FOR ALL SUCH MEETINGS, BUT THE ANNUAL MEETING SHALL BE HELD BEFORE JUNE 1 OF EACH YEAR. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE BUSINESS OFFICE DURING PREPARATION AND AFTER COMPLETION AND BEFORE BEING FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY HAS A "DUTY TO DISCLOSE" SECTION WHICH OUTLINES HOW POTENTIAL OR REAL CONFLICTS OF INTEREST ARE BROUGHT TO THE ATTENTION OF THE HEAD OF SCHOOL, OR TO THE ATTENTION OF THE BOARD PRESIDENT AND/OR VICE PRESIDENT. IT ALSO EXPLAINS THE ROLE THAT THE BOARD OF TRUSTEES' EXECUTIVE COMMITTEE PLAYS IN CONSIDERING POTENTIAL CONFLICTS OF INTEREST AND DETERMINING THE APPROPRIATE STEPS TO TAKE. FORM 990, PART VI, SECTION B, LINE 15A THE SALARIES OF THE OFFICERS AND KEY EMPLOYEES ARE DECIDED BY THE USE OF COMPARABLE SALARY DATA AS PROVIDED BY THE INDEPENDENT EDUCATION (IE) AND THE ASSOCIATION OF MARYLAND INDEPENDENT SCHOOLS. THE AMOUNT OF THE FINAL COMPENSATION NUMBER IS THEN APPROVED BY THE HEAD OF SCHOOL. THE SALARY FOR THE HEAD OF SCHOOL IS APPROVED BY THE BOARD OF TRUSTEES. CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION IS DOCUMENTED. 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 AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: GAIN ON INTEREST RATE CAP AGREEMENT 669. 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.