2016-05-13T16:10:08-05:00 2015-06-30 420714325 RSM US LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2014-07-01 520635092 LANDON SCHOOL CORPORATION LAND 3013203200 6101 WILSON LANE BETHESDA MD 20817 JEREMY KUGEL COO/CFO 3013203200 2016-05-13 1 WILLIAM E TURCO CPA P00369217 3012963600 2014 2016-08-17 19:52:53Z DAVID M ARMSTRONG 6101 WILSON LANE BETHESDA MD 20817 34095951 0 X WWW.LANDON.NET X 1936 MD MAINTAINING EDUCATIONAL PROGRAMS FOR STUDENTS AT THE ELEMENTARY AND HIGH SCHOOL LEVELS. 31 30 336 30 0 0 5092961 2122405 24777769 26120739 648688 1058631 378801 542860 30898219 29844635 3211128 3549297 0 0 16908939 16983367 0 0 1156624 8360930 8317604 28480997 28850268 2417222 994367 43707492 42070161 24514566 22864090 19192926 19206071 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 24011892 3549297 26259514 MAINTAINING EDUCATIONAL PROGRAMS FOR STUDENTS AT THE ELEMENTARY AND HIGH SCHOOL LEVELS. 24011892 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 1 0 1 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 75 0 1 336 1 1 1 0 0 0 0 1 1 0 0 0 0 X 31 30 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 DALE WOLF 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 FRANCIS DAY IV TRUSTEE 1.50 X 0 0 0 ROB EDWARDS TRUSTEE 1.50 X 0 0 0 THE HON WILLIAM EACHO III TRUSTEE 1.50 X 0 0 0 PETER FITZGERALD SR TRUSTEE 1.50 X 0 0 0 PETER FITZGERALD JR TRUSTEE 1.50 X 0 0 0 JEFFREY HARRIS TRUSTEE 1.50 X 0 0 0 WALLACE HOLLADAY JR TRUSTEE 1.50 X 0 0 0 ERNEST DREW JARVIS SR TRUSTEE 1.50 X 0 0 0 DOUGLASS KIKER TRUSTEE 1.50 X 0 0 0 KNIGHT AUSTIN KIPLINGER 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 LAWRENCE LAMADE TRUSTEE 1.50 X 0 0 0 SAMUEL LEHRMAN TRUSTEE 1.50 X 0 0 0 RUSSELL LINDNER TRUSTEE 1.50 X 0 0 0 STEVEN MAYER 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 MONICA THOMPSON TRUSTEE 1.50 X 0 0 0 MARTIN WEINSTEIN TRUSTEE 1.50 X 0 0 0 DAVID M ARMSTRONG PRESIDENT/HEADMASTER 60.00 X 834321 0 78033 JEREMY KUGEL COO/CFO 60.00 X 182200 0 35381 RANDALL BEDNAR HEAD OF LOWER SCHOOL 60.00 X 134158 0 31232 EHREN FEDEROWICZ HEAD OF UPPER SCHOOL 60.00 X 122662 0 71755 DANA KREIN HEAD OF MIDDLE SCHOOL 60.00 X 139713 0 12915 LEONARD ARMSTRONG HEAD OF ADMISSIONS 60.00 X 140932 0 49800 BARBARA GOODWYN DIRECTOR OF DEVELOPMENT 60.00 X 131581 0 56403 ALAN ROSENTHAL FACULTY 60.00 X 129961 0 10515 JOHN BOTTI ASSOCIATE HEADMASTER 60.00 X 129837 0 9041 GEORGE C PAPPAS ASSOCIATE DIRECTOR OF DEVELOPMENT 60.00 X 128903 0 8948 2074268 0 364023 25 0 1 0 FORRESTER CONSTRUCTION COMPANY 12231 PARKLAWN DRIVE ROCKVILLE MD 20852 BUILDING SERVICES 1560000 SODEXO INC & AFFILIATES PO BOX 536922 ATLANTA GA 303536922 FOOD SERVICE 773402 CJ MAINTENANCE INC 9254 BENDIX ROAD COLUMBIA MD 21045 FACILITY SERVICES 207388 WEAVER BROTHERS P O BOX 79579 BALTIMORE MD 212790579 INSURANCE BROKER 169361 SPENCERSTUART P O BOX 98991 CHICAGO IL 60693 CONSULTING SERVICES 161873 7 106145 2016260 449775 2122405 TUITION & FEES 900099 23965718 23965718 AUXILIARY SERVICES 900099 2155021 2155021 26120739 429063 429063 184501 0 184501 184501 184501 4328759 3699191 629568 629568 629568 564077 106145 353852 210225 210225 298952 198273 100679 100679 OTHER INCOME 900099 47455 47455 47455 29844635 26221418 0 1500812 3549297 3549297 1598430 1305723 222261 70446 11880696 9778252 1573671 528773 680642 512135 141607 26900 1877184 1412450 390546 74188 946415 712111 196901 37403 27440 27440 98667 98667 97600 97600 54651 54651 22836 22836 289454 146380 102094 40980 114461 114461 1707969 1706212 1046 711 323940 185904 45717 92319 274956 250265 24691 478033 391987 62144 23902 1903869 1561173 247503 95193 282461 231619 36719 14123 DEPARTMENTAL EXPENSES 1348006 1348006 FOOD SERVICES 601030 601030 SUMMER PROGRAMS 441319 441319 ALUMINI RELATION 98532 98532 152380 13833 132920 5627 28850268 24011892 3681752 1156624 500 500 4746246 5209280 1457635 819937 524679 18858 465887 247638 75043 56444 92416 142029 61704307 39859398 23239935 21844909 12501291 13138246 527860 519487 76000 72833 43707492 42070161 1750487 1499553 9658876 10030204 8329394 7734437 2158111 1536904 2617698 2062992 24514566 22864090 X -2234677 -875730 7784092 5647792 13643511 14434009 19192926 19206071 43707492 42070161 X 994367 -1125677 144455 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20303833 790498 -171347 1876874 19046110 16378060 2316437 1649902 40566 20303833 14510915 1218680 1027253 378788 16378060 14908950 266793 -236047 427781 14511915 14198660 93155 1077052 459917 14908950 0.18330 0.75780 0.05890 0 0 509249 509249 1485094 46594820 27838950 20240964 1733874 1704840 29034 11381270 10315608 1065662 21844909 CAPITAL LEASE OBLIGATIONS 103316 INTEREST RATE SWAP AGREEMENT 642944 FUNDS HELD FOR OTHERS 202455 DEFERRED COMPENSATION 1114277 2062992 X 25606575 -1125677 -3566908 -4692585 30299160 97600 -552125 -454525 29844635 25755496 552125 552125 25203371 97600 3549297 3646897 28850268 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, 2014, 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 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE NETTED AGAINST TUITION IN THE FINANCIAL STATEMENT -3,549,297. GAIN (LOSS) ON CHARITABLE REMAINDER TRUST -17,611. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES RECORDED ON LINE 8B -353,852. COST OF GOODS SOLD REPORTED ON LINE 10B -198,273. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES RECORDED ON LINE 8B 353,852. COST OF GOODS SOLD REPORTED ON LINE 10B 198,273. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE NETTED AGAINST TUITION IN THE FINANCIAL STATEMENT 3,549,297. 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 78608 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES OVERSEAS TRIPS 24836 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 335354 0 0 0 0 0 0 438798 0 438798 0 0 0 0 0 0 AZALEA FESTIVAL 356108 106145 249963 266920 GREENS SALE 314114 314114 86932 670222 106145 564077 353852 353852 210225 1 TUITION FINANCIAL AID 162 3549297 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 1 1 X X X 0 1 0 0 0 0 0 0 0 DAVID M ARMSTRONG PRESIDENT/HEADMASTER 328987 0 0 0 505334 0 18370 0 60212 0 912903 0 250000 0 JEREMY KUGEL COO/CFO 176780 0 0 0 5420 0 12344 0 23517 0 218061 0 0 0 RANDALL BEDNAR HEAD OF LOWER SCHOOL 133319 0 0 0 839 0 7967 0 23554 0 165679 0 0 0 EHREN FEDEROWICZ HEAD OF UPPER SCHOOL 122349 0 0 0 313 0 8719 0 63380 0 194761 0 0 0 DANA KREIN HEAD OF MIDDLE SCHOOL 133190 0 0 0 6523 0 4284 0 8966 0 152963 0 0 0 LEONARD ARMSTRONG HEAD OF ADMISSIONS 140391 0 0 0 541 0 9800 0 40358 0 191090 0 0 0 BARBARA GOODWYN DIRECTOR OF DEVELOPMENT 127474 0 0 0 4107 0 8948 0 47808 0 188337 0 0 0 PART I, LINE 1A A NON-TAXABLE HOUSING BENEFIT WAS PROVIDED TO INDIVIDUALS AS A CONDITION OF EMPLOYMENT. THE FOLLOWING INDIVIDUALS RECEIVED THE HOUSING BENEFIT: DAVID ARMSTRONG - $40,000 LEONARD ARMSTRONG - $40,000 EHREN FEDEROWICZ - $40,000 BARBARA GOODWYN - $40,000 FOLLOWING INDIVIDUALS RECEIVED TAXABLE HOUSING BENEFIT. JEREMY KUGEL - $5,000 DANA KREIN - $6,250 PART I, LINE 4B THE SCHOOL HAS AN EMPLOYMENT CONTRACT WITH THE HEADMASTER. IN ACCORDANCE WITH THE TERMS OF THE EMPLOYMENT CONTRACT THE SCHOOL HAS ESTABLISHED A NON-QUALIFIED RETIREMENT PLAN AND PROVIDES ANNUAL FUNDING TO THE PLAN WHICH IS INCLUDED AS A NON-TAXABLE, DEFERRED COMPENSATION BENEFIT IN ACCORDANCE WITH IRS GUIDELINES. THE HEADMASTER RECEIVED A PAYMENT FROM THE DEFERRED COMPENSATION PLAN OF $500,000 FOR THE CALENDAR YEAR ENDING 12/31/2014. 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 2379827 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 X 10 449775 MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 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 162,066. GAIN (LOSS) ON CHARITABLE REMAINDER TRUST -17,611. 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.