2016-02-08T07:31:28-06:00 2015-06-30 521197902 MULLEN SONDBERG WIMBISH & STONE PA 2553 HOUSLEY ROAD SUITE 200 ANNAPOLIS MD 214016751 990 2014-07-01 520591466 SEVERN SCHOOL INC SEVE 4106477701 201 WATER STREET SEVERNA PARK MD 21146 DOUGLAS LAGARDE HEADMASTER 4106477700 2016-02-03 1 SHARON M WIMBISH CPA P00440649 4102244920 2016-02-03 2014 2016-08-17 19:52:53Z DOUGLAS LAGARDE 201 WATER STREET SEVERNA PARK MD 21146 23709551 0 X WWW.SEVERNSCHOOL.COM X 1938 MD TO PROVIDE EDUCATION TO STUDENTS YEARS PRE-K THROUGH TWELVE. 28 28 298 400 0 0 1369288 2639071 18026791 18749790 574104 -588823 -8394 272312 19961789 21072350 2375636 2392326 0 0 11875746 12608828 0 0 1122593 5856158 5345434 20107540 20346588 -145751 725762 60818400 62700703 15218845 16310985 45599555 46389718 AN INDEPENDENT, CO-ED SCHOOL PROVIDING EDUCATION TO STUDENTS IN YEARS PRE-K THROUGH TWELVE. 0 0 15090114 2392326 18749790 EDUCATIONAL - PROVIDE EDUCATION FOR STUDENTS YEARS PRE-K THROUGH TWELVE. 15090114 1 1 0 0 0 0 0 0 0 1 1 0 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 64 0 298 1 0 0 0 0 0 1 1 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X THE ORGANIZATION 4106477700 201 WATER STREET SEVERNA PARK MD 21146 DR SANJIV LAKHANPAL TRUSTEE 3.00 X 0 0 0 HON BETH P GESNER TRUSTEE 3.00 X 0 0 0 MR BRENDAN CONNORS TRUSTEE 3.00 X 0 0 0 MR DREW LARKIN TRUSTEE 3.00 X 0 0 0 MR ERIC PIKUS TRUSTEE 3.00 X 0 0 0 MR ERIC VEIEL TRUSTEE 3.00 X 0 0 0 MR JOHN BREMER TRUSTEE 3.00 X 0 0 0 MR KENT HOLTGREWE TRUSTEE 3.00 X 0 0 0 MR MICHAEL A CAULEY CHAIRMAN 3.00 X X 0 0 0 MR MICHAEL R PEELISH TRUSTEE 3.00 X 0 0 0 MR RAYMOND HERMAN TRUSTEE 3.00 X 0 0 0 MR RICH GERGAR TRUSTEE 3.00 X 0 0 0 MR ROBERT BRET ANDERSON TRUSTEE 3.00 X 0 0 0 MR SCOTT BASS TRUSTEE 3.00 X 0 0 0 MR WILLIAM UTZ TRUSTEE 3.00 X 0 0 0 MR WILSON H PHIPPS TRUSTEE 3.00 X 0 0 0 MRS ANGELA CYRUS TRUSTEE 3.00 X 0 0 0 MRS CATHERINE DEA CODE TRUSTEE 3.00 X 0 0 0 MRS DIANE SWEENY MD TRUSTEE 3.00 X 0 0 0 MRS JENNIFER MANN TRUSTEE 3.00 X 0 0 0 MRS KATHERINE OSTBERG TRUSTEE 3.00 X 0 0 0 MRS MARY CHRIS GAY TRUSTEE 3.00 X 0 0 0 MS LISA S KAHAN TRUSTEE 3.00 X 0 0 0 MS PEG O'CONNOR TRUSTEE 3.00 X 0 0 0 MS ROBYN FORMICA TRUSTEE 3.00 X 0 0 0 MR JIM MURPHY VICE CHARIMAN 3.00 X X 0 0 0 MR DOUGLAS LAGARDE HEADMASTER 40.00 X 334729 0 51913 MR TERRY DEL PRETE DIRECTOR OF BUSINESS AND F 40.00 X 160916 0 37741 MRS JENNY BAKER SECRETARY 3.00 X 0 0 0 MR STEVE MACONI DIRECTOR OF DEVELOPMENT 40.00 X 153047 0 15762 MR THOMAS L CARTER TREASURER 3.00 X X 0 0 0 MS BEATRICE FULLER HEAD, UPPER SCHOOL 40.00 X 125620 0 36193 MS LISE CHARLIER DIRECTOR OF STUDIES 40.00 X 103132 0 8880 MS MARY GREEN DIRECTOR OF ADVANCEMENT 40.00 X 110913 0 44485 988357 0 194974 6 0 1 0 AR MARANI INC 7500 HARFORD RD BALTIMORE MD 21234 TEEL CONSTRUCTION 4438410 BROCK AND COMPANY INC 257 GREAT VALLEY PARKWAY MALVERN PA 19355 DINING SERVICES 343295 CP CLEANING SERVICE INC 806 BALTIMORE ANNAPOLIS BLVD SEVERNA PARK MD 21146 CLEANING SERVICES 218354 AMP SYSTEMS LLC PO BOX 4593 CROFTON MD 21114 IT MAINTENANCE 117720 BIGNELL WATKINS HASSER ARCHITECTS ONE PARK PLACE ANNAPOLIS MD 21401 TEEL CONSTRUCTION 117258 6 2639071 2639071 TUITION/FEES 900099 18749790 18749790 18749790 432389 432389 130080 0 130080 130080 130080 1479789 9000 1495028 1014973 -15239 -1005973 -1021212 -1021212 210470 80187 130283 130283 10000 5319 4681 4681 17797 41694 -23897 -23897 MISCELLANEOUS REVENUE 900099 31165 31165 31165 21072350 18749790 0 -316511 2392326 2392326 754108 585299 168809 9367464 7041548 1833668 492248 693759 413801 242372 37586 1101644 740903 286660 74081 691853 486422 157653 47778 67091 67091 43900 43900 189659 149060 40599 124057 67870 56187 1685097 1198190 448634 38273 28473 28473 768319 694851 60110 13358 141823 109052 18990 13781 275396 214999 16768 43629 344699 344699 1357213 1207920 122149 27144 122858 122858 MISCELLANEOUS 66137 66137 ALUMNI AFFAIRS 57149 57149 FUNDRAISING EXPENSE 52570 52570 BAD DEBTS 20993 20993 20346588 15090114 4133881 1122593 4168711 3359116 8129596 704851 2003783 2353757 309109 312427 27810 37877 248232 203626 54322871 11319396 33009727 43003475 12451218 12175409 421069 499396 49145 50769 60818400 62700703 1508811 3123972 2102855 2006090 11201611 10856006 100000 100000 305568 224917 15218845 16310985 X 34345177 34653250 5357277 5589564 5897101 6146904 45599555 46389718 60818400 62700703 X 725762 109136 -44735 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11169434 249803 462200 370588 11510849 9528220 321158 1609762 289706 11169434 8685018 90062 998401 245261 9528220 6657219 2191394 44018 207613 8685018 5770439 261322 875610 250152 6657219 0.22210 0.77790 0 0 2318542 2318542 34512867 9383334 25129533 3461563 1936062 1525501 14029899 14029899 43003475 DEFERRED COMPENSATION 62250 INTEREST RATE SWAP LIABILITY 119745 CAPITAL LEASE 42922 224917 X 18916360 109136 -2392326 -2283190 21199550 -127200 -127200 21072350 18081462 127200 127200 17954262 2392326 2392326 20346588 PART V, LINE 4: THE SCHOOL INTENDS TO USE THE ENDOWMENT FUNDS TO SUPPLEMENT THE ANNUAL OPERATIONS OF THE SCHOOL AS WELL AS FULFILL DONOR RESTRICTIONS PLACED ON ENDOWMENTS. PART X, LINE 2: THE SCHOOL FOLLOWS THE GUIDANCE OF ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH CLARIFIES THE ACCOUNTING FOR THE RECOGNITION AND MEASUREMENT OF THE BENEFITS OF INDIVIDUAL TAX POSITIONS IN THE FINANCIAL STATEMENTS, INCLUDING THOSE OF NON-PROFIT ORGANIZATIONS. TAX POSITIONS MUST MEET A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT IN ORDER FOR THE BENEFIT TO BE RECOGNIZED IN THE SCHOOL'S FINANCIAL STATEMENTS. THE SCHOOL ANALYZES TAX POSITIONS TAKEN, INCLUDING THOSE RELATED TO THE REQUIREMENTS SET FORTH IN IRC SEC. 501(C) TO QUALIFY AS A TAX EXEMPT ORGANIZATION, ACTIVITIES PERFORMED BY VOLUNTEERS AND BOARD MEMBERS, THE REPORTING OF UNRELATED BUSINESS INCOME, AND ITS STATUS AS A TAX-EXEMPT ORGANIZATION UNDER MARYLAND STATE STATUTE. THE SCHOOL DOES NOT KNOW OF ANY TAX BENEFITS ARISING FROM UNCERTAIN TAX POSITIONS AND THERE WAS NO EFFECT ON THE SCHOOL'S FINANCIAL POSITION OR CHANGES IN NET ASSETS AS A RESULT OF ANALYZING ITS TAX POSITIONS. FISCAL YEARS ENDING ON OR AFTER JUNE 30, 2011 REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -2,392,326. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF SALES NETTED AGAINST REVENUE -41,694. SPECIAL EVENTS EXPENSE NETTED AGAINST REVENUE -85,506. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES NETTED AGAINST REVENUE 41,694. SPECIAL EVENTS EXPENSE NETTED AGAINST REVENUE 85,506. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 2,392,326. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 NOTICE OF NONDISCRIMINATORY POLICY PUBLISHED ANNUALLY IN AREA NEWSPAPER. AUCTION 160450 160450 15485 22489 575 7784 GOLF TOURNAMENT 50020 50020 18761 2 15093 210470 210470 34246 22489 575 22877 80187 130283 1 FINANCIAL AID FOR STUDENTS 214 2392326 TUITION FEE SCHEDULE TUITION SCHOLARSHIPS & TUITION REMISSION PART I, LINE 2: THE SCHOOL MONITORS THE USE OF GRANT FUNDS ON A YEARLY BASIS. TUITION ASSISTANCE AND REMISSION IS AWARDED ON AN ANNUAL BASIS BY A COMMITTEE AND IS BASED UPON STUDENT NEED AND ELIGIBILITY. X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 MR DOUGLAS LAGARDE HEADMASTER 319585 0 15000 0 144 0 28809 0 23104 0 386642 0 0 0 MR TERRY DEL PRETE DIRECTOR OF BUSINESS AND F 150772 0 10000 0 144 0 16643 0 21098 0 198657 0 0 0 MR STEVE MACONI DIRECTOR OF DEVELOPMENT 152789 0 0 0 258 0 14341 0 1421 0 168809 0 0 0 MS BEATRICE FULLER HEAD, UPPER SCHOOL 125482 0 0 0 138 0 10677 0 25516 0 161813 0 0 0 MS MARY GREEN DIRECTOR OF ADVANCEMENT 110823 0 0 0 90 0 9624 0 34861 0 155398 0 0 0 PART I, LINE 1A AS IS NORMAL AND CUSTOMARY WITH SCHOOLS, THE HEADMASTER OF SEVERN SCHOOL (DOUGLAS LAGARDE) IS PROVIDED WITH HOUSING FOR THE CONVENIENCE OF THE SCHOOL AND IS A CONDITION OF EMPLOYMENT (PER EMPLOYMENT CONTRACT) THAT THE HEADMASTER RESIDE IN THE HOUSE PROVIDED. THE HEADMASTER'S HOME IS USED FOR MANY SCHOOL ACTIVITIES INCLUDING HOSTING EVENTS FOR STUDENTS, FACULTY, AND SUPPORTERS. THE CALCULATED NONTAXABLE BENEFIT RECIEVED BY THE HEADMASTER FOR THE PERSONAL USE OF THE HOUSING AMOUNTED TO $21,490. A MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY 520936091 605265485 2011-12-07 8800000 CONSTRUCTION AND RENOVATION OF SCHOOL BUILDINGS AND GROUNDS 0 0 0 B MARYLAND HEALTH AND HIGHER EDUCATION 520936091 606128524 2011-08-17 3200000 CONSTRUCTION 0 0 0 A 834476 8800000 23666 87418 1798868 107121 0 1 0 1 B 309518 3200000 110263 246017 1 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 A 0 0 0 0 1 0 PNC BANK 10.000000000000 0 0 0 0 0 B 0 0 0 0 1 0 0 0 0 A 0 B 0 X 10 221890 HIGH/LOW AVERAGE VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT/FINANCIAL COMMITTEE SHALL REVIEW AND APPROVE THE IRS FORM 990 ANNUAL TAX FILING PRIOR TO SUBMISSION, AND THE FULL BOARD WILL BE ABLE TO ACCESS AND VIEW THE 990 THROUGH A DOCUMENT PORTAL PRIOR TO FILING. THE HEADMASTER SHALL SIGN AND CERTIFY THAT THE IRS FORM 990 IS ACCURATE AND COMPLETE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES ALL DIRECTORS, OFFICERS, AND KEY EMPLOYEES TO REVIEW THE CONFLICT OF INTEREST POLICY AND COMPLETE AND SIGN AN ANNUAL DISCLOSURE QUESTIONNAIRE. FORM 990, PART VI, SECTION B, LINE 15 THE BYLAWS OF SEVERN SCHOOL ESTABLISHED A PESONNEL COMMITTEE THAT HAS GENERAL OVERSIGHT OF THE SCHOOL'S HUMAN RESOURCE PLAN. SPECIFIC DUTIES INCLUDE YEARLY EVALUATION OF THE FACULTY COMPENSATION SCALES/RANGE AS WELL AS THE RANGES FOR STAFF ADMINISTRATORS. COMPETENT SALARY SURVEY(S) OF INDEPENDENT AND OTHER SCHOOLS ARE USED TO BENCHMARK COMPENSATION FOR FACULTY COMPENSATION. FOR THE ADMINISTRATOR COMPENSATION LEVELS, THE COMMITTEE USES THE DATA PROVIDED BY THE ASSOCIATION OF INDEPENDENT MARYLAND SCHOOLS (AIMS) IF AVAILABLE AS A GUIDE. THE EXECUTIVE COMMITTEE OF THE BOARD MEETS TO DISCUSS THE COMPENSATION PACKAGE FOR THE HEAD OF SCHOOL USING DATA PROVIDED BY AIMS AS WELL AS OTHER INFORMATION THEY FIND IN THEIR RESEARCH. THE EXECUTIVE COMMITTEE PERFORMS THE ANNUAL EVALUATION OF THE HEADMASTER. THE EXECUTIVE COMMITTEE PRESENTED ITS FINDINGS AND RECOMMENDATIONS TO THE FULL BOARD FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS FORM 1023 AND FORM 990 AVAILABLE TO PUBLIC INSPECTION UPON WRITTEN REQUEST. 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 WRITTEN REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT -44,735. PART XII LINE 2C THE BOARD OF TRUSTEES IS RESPONSIBLE FOR THE SELECTION OF THE INDEPENDENT AUDITOR AND ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF THE FINANCIAL STATEMENTS. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.