2016-05-05T11:09:50-05:00 2015-06-30 202153727 SB & Company LLC 200 International Cir Suite 5500 Hunt Valley MD 21030 990 2014-07-01 521072250 Baltimore Educational Scholarship Trust BALT 4107522225 808 North Charles Street Baltimore MD 21201 Jessica Suriano Executive Director 4107522225 2016-05-05 1 William Seymour P00644232 4105840060 2016-05-05 2014 2016-08-17 19:52:53Z Jessica Suriano 808 North Charles Street Baltimore MD 21201 2822658 0 X www.besttrust.org X 1987 MD The Baltimore Educational Scholarship Trust, in partnership with our nineteen independent member schools, recruits and supports through the admissions process academically ambitious, African American students with financial need from the Baltimore area. Once students are enrolled, B.E.S.T. positions them for success through academic preparation, character and leadership development and support programs. 44 44 18 44 0 0 713162 739089 376414 385793 281266 336756 0 0 1370842 1461638 583483 533819 0 0 545600 644042 0 0 179563 278753 263469 1407836 1441330 -36994 20308 10483861 10361470 305596 313316 10178265 10048154 X The Baltimore Educational Scholarship Trust, in partnership with our nineteen independent member schools, recruits and supports through the admissions process academically ambitious, African American students with financial need from the Baltimore area. Once students are enrolled, B.E.S.T. positions them for success through academic preparation, character and leadership development and support programs. 0 0 1107967 533819 385793 The three greatest accomplishments of the Baltimore Educational Scholarship Trust include our admissions support, our student / parent programs and our facilitation of private and public school partnerships. In admissions, we provide individualized admissions and financial aid counseling to applicants and their parents. Our student and parent programs include academic enrichment, leadership development, parent networking and college-bound support. In addition, B.E.S.T. builds partnerships and facilitates collaborations between private and public educational leaders throughout Baltimore. The totality of our programmatic work supports applicant students and parents, enrolled students and parents and the educational community in Baltimore. 1107967 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 6 0 18 1 0 0 0 0 0 0 0 0 0 0 X 44 44 1 0 0 0 0 0 0 1 1 1 0 1 1 1 1 1 1 1 1 0 MD X Jill Wood 4107522225 808 North Charles Street Baltimore MD 21201 X Alex W Kirby Trustee 1.00 0.00 X 0 0 0 Andrew Holmgren Trustee 1.00 0.00 X 0 0 0 Anne Staley Trustee 1.00 0.00 X 0 0 0 Ben Shifrin Trustee 1.00 0.00 X 0 0 0 Brian C Doak Trustee 1.00 0.00 X 0 0 0 Charles E Knudsen III Trustee 1.00 0.00 X 0 0 0 Charles W Britton Trustee 1.00 0.00 X 0 0 0 Cheo D Hurley Trustee 2.00 0.00 X 0 0 0 Dr Cheryl Holcomb-McCoy Trustee 1.00 0.00 X 0 0 0 Christopher A Berrier Board Secretary 4.00 0.00 X X 0 0 0 Christopher J Post Trustee 2.00 0.00 X 0 0 0 Daniel Paradis Trustee 2.00 0.00 X 0 0 0 David C Faus Trustee 1.00 0.00 X 0 0 0 David Hunter Trustee 1.00 0.00 X 0 0 0 Diane Hutchins Trustee 1.00 0.00 X 0 0 0 Domonique Foxworth Trustee 1.00 0.00 X 0 0 0 Douglas Lagarde Trustee 1.00 0.00 X 0 0 0 F Barton Harvey III Emeritus Trustee 0.00 0.00 X 0 0 0 Grant L Jacks III Emeritus Trustee 0.00 0.00 X 0 0 0 Henry PA Smyth Trustee 1.00 0.00 X 0 0 0 Jason S Bennett Trustee 1.00 0.00 X 0 0 0 Jean W Brune Trustee 1.00 0.00 X 0 0 0 John E Schmick Trustee 1.00 0.00 X 0 0 0 John H Timken Trustee 1.00 0.00 X 0 0 0 The Honorable Julie R Rubin Trustee 1.00 0.00 X 0 0 0 Kimberly H Cashman Trustee 1.00 0.00 X 0 0 0 Dr Kimberley J Roberts Trustee 1.00 0.00 X 0 0 0 Lawrence R Snyder Board Treasurer 4.00 0.00 X X 0 0 0 Lee S Owen Trustee 1.00 0.00 X 0 0 0 Marcella Yedid Trustee 1.00 0.00 X 0 0 0 Martha H Sweeney Trustee 1.00 0.00 X 0 0 0 Matthew W Micciche Trustee 1.00 0.00 X 0 0 0 Maureen E Walsh Trustee 1.00 0.00 X 0 0 0 Michael C Ford Board Vice President 2.00 0.00 X X 0 0 0 Michael J Weinfeld Trustee 2.00 0.00 X 0 0 0 Molly M Hathaway Emeritus Trustee 0.00 0.00 X 0 0 0 Dr Parnell P Hagerman Trustee 1.00 0.00 X 0 0 0 Pat Whitehead Trustee 1.00 0.00 X 0 0 0 Penny B Evins Trustee 1.00 0.00 X 0 0 0 Randy S Stevens Trustee 1.00 0.00 X 0 0 0 Redmond CS Finney Emeritus Trustee 0.00 0.00 X 0 0 0 Stuart O Simms Board President 4.00 0.00 X X 0 0 0 Teri Alexander Trustee 1.00 0.00 X 0 0 0 Theo C Rodgers Emeritus Trustee 1.00 0.00 X 0 0 0 Thomas P Perkins III Emeritus Trustee 0.00 0.00 X 0 0 0 Tiffani S Collins Board Second Vice President 2.00 0.00 X X 0 0 0 Tracey H Ford Trustee 1.00 0.00 X 0 0 0 Vernon A Reid Jr Trustee 1.00 0.00 X 0 0 0 W Boulton Bo Dixon Board Vice President 4.00 0.00 X 0 0 0 Crystal A Lee Director of Advancement 40.00 0.00 X 41924 0 2497 Jessica Suriano Executive Director 40.00 0.00 X 103692 0 6939 Jill E Wood Manager of Finance & Ops 40.00 0.00 X 67966 0 10378 213582 0 19814 1 0 0 0 0 739089 739089 School membership fees 900099 375000 375000 Application fees and other 900099 10793 10793 385793 164662 164662 1533114 1361020 172094 172094 172094 1461638 385793 0 336756 533819 533819 283586 174207 47416 61963 244502 150189 40901 53412 22841 14031 3819 4991 51156 31425 8553 11178 41957 25774 7015 9168 14625 9798 2633 2194 11277 7556 2030 1691 37849 19843 6219 11787 29240 19591 5264 4385 56207 39345 11241 5621 3854 2313 1156 385 11227 11227 8189 4913 2457 819 Student Prgms/Svcs Expe 60614 60614 Miscellaneous 11022 7463 2109 1450 Cultivation and steward 10519 10519 Projects and events 7086 7086 1760 1760 1441330 1107967 153800 179563 138733 176258 35222 26397 9309 12430 130879 101788 29280 29091 10271317 10117294 10483861 10361470 6425 10092 299171 303224 305596 313316 X 135400 193220 4578318 4390387 5464547 5464547 10178265 10048154 10483861 10361470 20308 -150419 0 X X 0 1 X 1 0 X 800607 689580 716939 713162 739089 3659377 800607 689580 716939 713162 739089 3659377 418110 3241267 132367 128481 208585 266757 164662 900852 4560229 1938265 0.71080 0.70800 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 9689524 183614 413233 9459905 8671007 1424701 406184 9689524 8153932 907024 389949 8671007 8929574 123853 899495 8153932 7766840 1562237 399503 8929574 0.57770 0.42230 0 0 130879 101788 29091 29091 Money market funds 716898 F Domestic US Stocks/Funds 4769274 F International (non-U.S.) Stocks/Funds 1768774 F Fixed Income 2862348 F 10117294 Distributions payable to schools 300000 Capital Lease 3224 303224 X 1311219 -150419 -150419 1461638 0 1461638 1441330 0 1441330 0 1441330 Part X, Line 2: Under the provisions of the Internal Revenue Code, BEST is exempt from federal and state income taxes as a charitable organization under Internal Revenue Code 501(c)(3). BEST files information returns in the U.S. federal jurisdiction and is no longer subject to tax examinations by tax authorities for years before 2012. There are no interest and penalties related to income taxes recognized in the financial statements as of June 30, 2015 and 2014. BEST has not taken any tax positions that would significantly increase or decrease any unrecognized tax benefit within twelve months of the reporting date. 1 The Boys' Latin School of Maryland 822 W Lake Avenue Baltimore MD 21210 520735085 501(c)(3) 31551 Annual Fund Gift, SHDF gift, and 2 Emergency Fund grants. Calvert School Inc 105 Tuscany Road Baltimore MD 21210 520591510 501(c)(3) 29219 Annual Fund Gift, SHDF gift, and 3 Emergency Fund grants. Friends School of Baltimore Inc 5114 North Charles Street Baltimore MD 21210 520591602 501(c)(3) 32670 Annual Fund Gift, SHDF gift, and 2 Emergency Fund grants. Garrison Forest School Inc 300 Garrison Forest Road Owings Mills MD 21117 520591516 501(c)(3) 35105 Annual Fund Gift, SHDF gift, and 3 Emergency Fund grants. Gilman School Inc 5407 Roland Avenue Baltimore MD 21210 520591604 501(c)(3) 48256 Annual Fund Gift, SHDF gift, and Tuition for the School's Chick Lord Scholar. The Jemicy School Inc 11 Celadon Road Owings Mills MD 21117 520976194 501(c)(3) 23778 Annual Fund Gift, SHDF gift, and 1 Emergency Fund grant. Key School Inc 543 Hillsmere Drive Annapolis MD 21403 520701774 501(c)(3) 17155 Annual Fund Gift and SHDF gift. Maryvale Preparatory School 11300 Falls Road Lutherville MD 21093 521160935 501(c)(3) 24445 Annual Fund Gift, SHDF gift, and 2 Emergency Fund grants. McDonogh School PO Box 380 Owings Mills MD 211170380 526001577 501(c)(3) 27845 Annual Fund Gift and SHDF gift. Oldfields School Inc 1500 Glencoe Road Glencoe MD 21152 520591645 501(c)(3) 14965 Annual Fund gift, SHDF gift, and Stanley I Panitz award. Roland Park Country School Inc 5204 Roland Avenue Baltimore MD 21210 520591631 501(c)(3) 58100 Annual Fund Gift, SHDF gift, 2 Emergency Fund grants, and Tuition for the School's Endowed Scholar. Severn School Inc 201 Water Street Severna Park MD 211464599 520591466 501(c)(3) 16618 Annual Fund Gift and SHDF gift. St Paul's School 11152 Falls Road Brooklandville MD 21022 520591463 501(c)(3) 37941 Annual Fund Gift, SHDF gift, 2 Emergency Fund grants, and Stanley I. Panitz Award. St Paul's School for Girls Inc 11232 Falls Road Brooklandville MD 21022 520709497 501(c)(3) 35416 Annual Fund Gift, SHDF gift, 1 Emergency Fund grant, and 1 Gap Funding grant. Corporation of St Timothy's School 8400 Greenspring Ave Stevenson MD 21153 520591488 501(c)(3) 19598 Annual Fund Gift, SHDF gift, and 1 Gap Funding grant. Bryn Mawr School 109 W Melrose Ave Baltimore MD 21210 520258140 501(c)(3) 38219 Annual Fund Gift, SHDF gift, and 3 Emergency Fund grants. The Park School of Baltimore PO Box 8200 Brooklandville MD 21022 520591625 501(c)(3) 23026 Annual Fund Gift, and SHDF gift. The Waldorf School of Baltimore Inc 4801 Tamarind Road Baltimore MD 21209 237305478 501(c)(3) 14684 Annual Fund gift and SHDF gift. 18 Part I, Line 2: When B.E.S.T. provides grants for Endowed Scholars, Gap Funding, Emergency Funding, Annual Fund gifts, the Stanley I Panitz Award, and the School Head Discretionary Fund, they send a check and a letter to each of the schools, stating the intended use of the money being sent to the schools. Annual Fund gifts are provided to our member schools to be used for financial aid for students. The Annual Fund gift letters state the amount of the grant awarded to each school and that it is directed toward the school's financial aid budget. Endowed Scholar gifts are provided to the specific member schools with an Endowed Scholar. B.E.S.T. pays 75% of the current tuition for the Endowed Scholar. There were 2 Endowed Scholars for fiscal year 2015. One Endowed Scholar was at Roland Park Country School. The other Endowed Scholar at Gilman School, Inc., is called the Chick Lord Scholar. B.E.S.T. includes the student's name in the grant letter. Emergency Funds are provided to our member schools. These funds are for B.E.S.T. students currently enrolled who experience financial difficulties with regards to meeting their tuition obligation. The requests for Emergency Funding come from the students' school. Emergency Fund grant letters state the amount of tuition assistance and the student's name. The fund provides tuition support and allows students to remain enrolled at their school. Gap Funds are a one-time grant to member schools. These grants help a new B.E.S.T. applicant enrolled at their new member school. B.E.S.T. pays a portion of the tuition to support the student during their initial enrollment year, and the school makes a commitment to cover the difference moving forward. Gap Funding grant letters state the amount and the student's name. The purpose of the School Head's Discretionary Fund (SHDF) at the Baltimore Educational Scholarship Trust is to provide school Heads auxiliary funding to support B.E.S.T. students on their campuses. The support can include necessary services as well as experiential learning opportunities at the discretion of the School Head. The funds may not be used to supplement tuition. Each year the school must submit a detailed report to B.E.S.T. on how the funds were used. The Stanley I. Panitz Leadership Award is presented annually to 2 students selected from the entire pool of B.E.S.T. juniors attending our member schools. Students are nominated to receive the Stanley I. Panitz Leadership Award by their Head of School during the second semester of their junior year. The recipients of the award are one B.E.S.T. young woman and one B.E.S.T. young man, in recognition of their academic achievement and demonstrated leadership in both their school and the broader Baltimore community. The award is a $1,000 directed gift from the Stanley I. Panitz Leadership Fund of B.E.S.T. to each recipent's independent school to be applied to the family contribution of their student's senior year tuition. Copies of the checks and the grant letters sent to the schools are maintained in files in B.E.S.T.'s finance department. Form 990, Part VI, Section A, line 2 Charles Knudsen, a trustee, is the husband of Ellen Knudsen, a part time staff member at B.E.S.T. Form 990, Part VI, Section B, line 11 A copy of the Form 990 is distributed to the Finance and Audit Committee of the Board so they may review, edit and approve the document. Once the draft is reviewed, edited and approved, the Form 990 is considered complete and the Executive Director signs the final version. Form 990, Part VI, Section B, line 12c All trustees and key employees are required each year to sign the conflict of interest policy. The signed trustee forms are stored at B.E.S.T. in the Trustee's individual files in the executive office. The signed conflict of interest forms for the key employees are stored in the personnel files of the individuals. If a conflict exists, the Executive Director would review with the Board President. Form 990, Part VI, Section B, line 15 Research of salaries for similar positions and similar organizations is reviewed and compared. The Board President and Executive Committee reviewed the salary of the Executive Director. The Executive Director reviewed the salary for the Admissions Officer I, the Admissions Officer II, the Manager of Finance and Operations, the Director of Advancement, the Development Associate and the Associate of External Relations. Form 990, Part VI, Section C, line 19 The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part VII Alex W. Kirby - 25 S. Charles Street 19th Floor, Baltimore, MD 21231. Andrew Holmgren - 105 Tuscany Road, Baltimore, MD 21210. Anne Staley - 22 Buchanan Road, Baltimore, MD 21212. Ben Shifrin - 11202 Garrison Forest Road, Owings Mills, MD 21117. Brian C. Doak - 307 International Circle, 4th Floor, Hunt Valley, MD 21031. Charles E. Knudsen, III - 100 E. Pratt Street, Baltimore, MD 21202. Charles W. Britton - 8600 McDonogh Road, Owings Mills, MD 21117. Cheo D. Hurley - 3707 Edgewood Road, Baltimore, MD 21215. Dr. Cheryl Holcomb-McCoy - 2800 N. Charles Street Room 314, Baltimore, MD 21218. Christopher A. Berrier - 240 Hopkins Lane, Owings Mills, MD 21117. Christopher J. Post - 822 West Lake Avenue, Baltimore, MD 21210. Daniel Paradis - P.O. Box 8200, Brooklandville, MD 21022. David C. Faus - 11152 Falls Road P.O. Box 8100, Brooklandville, MD 21022. David Hunter - 901 S. Bond Street Suite 400, Baltimore, MD 21231. Diane Hutchins - 3510 Cohasset Avenue, Annapolis, MD 21403. Domonique Foxworth - 3513 Anton Farms Road, Pikesville, MD 21208. Douglas Lagarde - 201 Water Street, Severna Park, MD 21146. F. Barton Harvey, III - 10227 Wincopin Circle, Columbia, MD 21044. Grant L. Jacks, III - 529 Overbrook Road, Baltimore, MD 21212. Henry P.A. Smyth - 5407 Roland Avenue, Baltimore, MD 21210. Jason S. Bennett - 100 International Drive, Baltimore, MD 21202. Jean W. Brune - 5204 Roland Avenue, Baltimore, MD 21210. John E. Schmick - 6432 Cloister Gate Drive, Baltimore, MD 21212. John H. Timken - 13827 Lakeside Drive, Clarksville, MD 20129. The Honorable Julie R. Rubin - 2327 Boston Street No.14, Baltimore, MD 21224. Kimberly H. Cashman - 1406 Walnut Hill Lane, Towson, MD 21204. Dr. Kimberley J. Roberts - 300 Garrison Forest Road, Owings Mills, MD 21117. Lawrence R. Snyder - 3119 Royston Avenue, Baltimore, MD 21214. Lee S. Owen - P.O. Box 191, Gibson Island, MD 21056. Marcella Yedid - 534 Hillsmere Drive, Annapolis, MD 21403. Martha H. Sweeney - 3257 Bridle Ridge Lane, Stevenson, MD 21153. Matthew W. Micciche - 5114 N. Charles Street, Baltimore, MD 21210. Maureen E. Walsh - 109 West Melrose Avenue, Baltimore, MD 21210. Michael C. Ford - 20 Buchanan Road, Baltimore, MD 21212. Michael J. Weinfeld - P.O. Box 251, Brooklandville, MD 21022. Molly M. Hathaway - 6525 Montrose Avenue, Baltimore, MD 21212. Dr. Parnell P. Hagerman - 1500 Glencoe Road P.O. Box 697, Glencoe, MD 21152. Pat Whitehead - 4801 Tamarind Road, Baltimore, MD 21209. Penny B. Evins - 11232 Falls Road, Brooklandville, MD 21022. Randy S. Stevens - 8400 Greenspring Avenue, Stevenson, MD 21153. Redmond C.S. Finney - 15601 Dover Road, Upperco, MD 21155. Stuart O. Simms - 120 E. Baltimore Street Suite 1700, Baltimore, MD 21202. Teri Alexander - 216 Ridgewood Road, Baltimore, MD 21210. Theo C. Rodgers - 1040 Park Avenue Suite 300, Baltimore, MD 21201. Thomas P. Perkins, III - 840 East 40th Street, Baltimore, MD 21211. Tiffani S. Collins - 5876 Pimlico Road, Baltimore, MD 21209. Tracey H. Ford - 11300 Falls Road, Lutherville, MD 21093. Vernon A. Reid, Jr. - 100 E. Pratt Street 7th Floor, Baltimore, MD 21202. W. Boulton (Bo) Dixon - 509 Whithorn Court, Lutherville, MD 21093. Form 990, Part XII, Line 2c: The process has not changed from prior year.