2015-03-13T08:20:24-05:00 2014-06-30 420714325 MCGLADREY LLP 100 INTERNATIONAL DRIVE SUITE 1400 BALTIMORE MD 21202 990 2013-07-01 520591604 GILMAN SCHOOL INCORPORATED GILM 4103233800 5407 ROLAND AVENUE BALTIMORE MD 21210 SEAN T FURLONG DIRECTOR OF FINANCE & ADMIN 4103233800 2015-03-10 1 JULIA FLANNERY CPA P00928918 4102469300 2013 2016-02-25 16:41:14Z GILMAN SCHOOL HENRY PA SMYTH 5407 ROLAND AVENUE BALTIMORE MD 21210 49132693 0 X WWW.GILMAN.EDU X 1897 MD GILMAN SCHOOL IS A DIVERSE COMMUNITY DEDICATED TO EDUCATING BOYS IN MIND, BODY, AND SPIRIT THROUGH PARTICULAR EMPHASIS UPON ACADEMIC EXCELLENCE, ATHLETIC PARTICIPATION AND AESTHETIC APPRECIATION. GILMAN SEEKS TO PRODUCE MEN OF CHARACTER AND INTEGRITY WHO HAVE THE SKILLS AND ABILITY TO MAKE A POSITIVE CONTRIBUTION TO THE COMMUNITIES IN WHICH THEY LIVE AND WORK. 45 45 329 650 56073 0 4209556 10852899 25663277 26601663 4523277 3496873 314277 303530 34710387 41254965 3963342 4101725 0 0 19095862 20288927 0 0 1541678 11329965 11942496 34389169 36333148 321218 4921817 176554307 195514216 34717327 35509182 141836980 160005034 X GILMAN SCHOOL IS A DIVERSE COMMUNITY DEDICATED TO EDUCATING BOYS IN MIND, BODY, AND SPIRIT THROUGH PARTICULAR EMPHASIS UPON ACADEMIC EXCELLENCE, ATHLETIC PARTICIPATION AND AESTHETIC APPRECIATION. GILMAN SEEKS TO PRODUCE MEN OF CHARACTER AND INTEGRITY WHO HAVE THE SKILLS AND ABILITY TO MAKE A POSITIVE CONTRIBUTION TO THE COMMUNITIES IN WHICH THEY LIVE AND WORK. 0 0 27728196 4101725 26601663 PROVIDING EDUCATION FOR 1,031 STUDENTS OF THE LOWER, MIDDLE AND UPPER GRADES. 27728196 1 1 0 0 0 0 1 0 0 1 1 1 0 0 1 1 1 0 1 0 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 176 0 1 329 1 1 1 0 0 0 0 0 0 0 0 0 X 45 45 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MD X REBECCA G LEVY 4104643147 GILMAN SCHOOL 5407 ROLAND AVE BALTIMORE MD 21210 PAUL F MCBRIDE PRESIDENT 10.00 X X 0 0 0 SCOTT A WIELER PRESIDENT-ELECT 5.00 X X 0 0 0 TAYLOR S CLASSEN VICE PRESIDENT 5.00 X X 0 0 0 HARRY D HALPERT VICE PRESIDENT 5.00 X X 0 0 0 WILLIAM L PATERNOTTE VICE PRESIDENT 5.00 X X 0 0 0 SUSAN D GINKEL SECRETARY 5.00 X X 0 0 0 FRANK A BONSAL III TRUSTEE 2.00 X 0 0 0 FRANCIS J CAREY TRUSTEE 2.00 X 0 0 0 DAVID H CARROLL JR TRUSTEE 2.00 X 0 0 0 ROBERT T CASHMAN TRUSTEE 2.00 X 0 0 0 MICHEL F CAVALLON TRUSTEE 2.00 X 0 0 0 JOHN F CAVANAUGH TRUSTEE 2.00 X 0 0 0 JEFFREY H COHEN TRUSTEE 2.00 X 0 0 0 SAMUEL M DELL III TRUSTEE 2.00 X 0 0 0 DR CHARLES C EDWARDS II TRUSTEE 2.00 X 0 0 0 CHARLES C FENWICK JR TRUSTEE 2.00 X 0 0 0 EBEN D FINNEY III TRUSTEE 2.00 X 0 0 0 MITCHELL F FORD TRUSTEE 2.00 X 0 0 0 BENJAMIN H GRISWOLD IV TRUSTEE 2.00 X 0 0 0 GERARD C HARRISON TRUSTEE 2.00 X 0 0 0 GEORGE B HESS JR TRUSTEE 2.00 X 0 0 0 DR KATHLEEN B HOGAN TRUSTEE 2.00 X 0 0 0 CHEO D HURLEY TRUSTEE 2.00 X 0 0 0 JONATHAN S JACOBSON TRUSTEE 2.00 X 0 0 0 LYNNE B KAHN TRUSTEE 2.00 X 0 0 0 THE HON BENSON E LEGG TRUSTEE 2.00 X 0 0 0 JOHN D LINEHAN TRUSTEE 2.00 X 0 0 0 DR CHARLOTTE E MODLY TRUSTEE 2.00 X 0 0 0 HENRY I MYERBERG TRUSTEE 2.00 X 0 0 0 MARK D NEUMANN TRUSTEE 2.00 X 0 0 0 DW WELLS OBRECHT TRUSTEE 2.00 X 0 0 0 SAMUEL PETERS TRUSTEE 2.00 X 0 0 0 DELANO J SCHMIDT TRUSTEE 2.00 X 0 0 0 DARA S SCHNEE TRUSTEE 2.00 X 0 0 0 STEPHEN T SCOTT TRUSTEE 2.00 X 0 0 0 KATHY L SHAPIRO TRUSTEE 2.00 X 0 0 0 SCOTT L SHERMAN TRUSTEE 2.00 X 0 0 0 DR EVA F SIMMONS-O'BRIEN TRUSTEE 2.00 X 0 0 0 JONATHAN W THAYER TRUSTEE 2.00 X 0 0 0 J RICHARD THOMAS SR TRUSTEE 2.00 X 0 0 0 GEORGE E THOMSEN TRUSTEE 2.00 X 0 0 0 MICHAEL J WEINFELD TRUSTEE 2.00 X 0 0 0 MITCHELL D WHITEMAN TRUSTEE 2.00 X 0 0 0 KARLO G YOUNG TRUSTEE 2.00 X 0 0 0 DR CLARENCE L YOUNG III TRUSTEE 2.00 X 0 0 0 SEAN T FURLONG DIR OF FINANCE 40.00 X 179246 0 81217 HENRY SMYTH HEADMASTER 40.00 X 196755 0 50202 JOHN SCHMICK DEVELOPMENT CONSULTANT 40.00 X 382302 0 73667 TIMOTHY HOLLEY JR DIR OF ATHLETICS 40.00 X 130981 0 39127 MARY KATE RATCLIFFE DIR OF DEVELOPMENT 40.00 X 147988 0 21053 ROBERT HERRMANN LOWER SCHOOL HEAD 40.00 X 123314 0 31890 IVANA TURNER UPPER SCHOOL HEAD 40.00 X 127056 0 10498 1287642 0 307654 9 0 1 0 CHARTWELLS INC PO BOX 91337 CHICAGO IL 60693 DINING HALL/ CATERING 904879 PMM COMPANIES INC 15938 DEERWOOD RD ROCKVILLE MD 20855 HOUSEKEEPING/CLEANING 357063 HENRY H LEWIS CONTRACTORS LLC 55 GWYNNS MILL COURT OWINGS MILLS MD 21117 CONSTRUCTION 240817 KANGAROO COACH D&R RIDES 3207 HAMMONDS FERRY ROAD SUITE A HALETHORPE MD 21227 TRANSPORTATION 180689 ABACUS CORPORATION PO BOX 824900 PHILADELPHIA PA 19182 SECURITY SERVICE 175712 8 3764 10849135 625699 10852899 TUITION AND FEES 900099 25823510 25823510 COMMUNITY AND SUMMER P 611710 368822 368822 AFTER SCHOOL PROGRAMS 611710 179561 179561 ALUMNI & PARENTS ASSOC 611710 117360 117360 OTHER FEES AND CHARGES 611710 69777 69777 42633 42633 26601663 684778 54722 630056 210839 0 210839 210839 210839 10274376 7462281 2812095 2812095 2812095 87922 3764 50717 37205 37205 2994 1021 1973 1973 396587 363709 32878 1351 31527 OTHER INCOME 900099 20635 20635 20635 41254965 26601663 56073 3744330 12750 12750 4088975 4088975 515341 393618 85263 36460 15030493 11480305 2486793 1063395 1156811 883574 191394 81843 2442080 1865262 404043 172775 1144202 873943 189308 80951 60923 60923 89997 89997 133812 133812 1718791 832861 885930 35067 35067 321720 238444 83276 253015 101387 151628 1029162 1029162 108468 108468 160058 70467 43119 46472 1009927 56 1009871 2571894 2571894 216586 205931 10655 GENERAL & ADMINISTRATIV 1115732 1115732 MISCELLANEOUS SCHOOL OP 783712 783712 CONTINUING EDUCATION & 393844 393844 COMMUNITY & SUMMER PROG 392552 392552 1547236 1365924 121530 59782 36333148 27728196 7063274 1541678 2000 2000 6696142 13821623 600183 250923 203933 224026 489683 411150 114539 119887 928641 1030897 77106035 26250562 51870552 50855473 52986776 54389867 61670742 71827579 991116 2580791 176554307 195514216 1843213 1923031 30000000 30000000 2874114 3586151 34717327 35509182 X 46344618 46035483 50378428 68543568 45113934 45425983 141836980 160005034 176554307 195514216 X 4921817 13628876 -382639 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 8.55 1 1 12.00 433 97958467 312049 13646238 4177409 107739345 87604712 857564 13440997 3944806 97958467 82398874 8851256 280261 3925679 87604712 71535009 1895107 13434160 4115244 350158 82398874 66404673 1528201 7742910 4203512 -62737 71535009 0.14830 0.42160 0.43010 0 0 70913657 22433187 48480470 6192378 3817375 2375003 50855473 HEDGE FUNDS 60813121 F REAL ESTATE 5854854 F PRIVATE EQUITY 5159604 F 71827579 DEFERRED SUMMER PROGRAM INCOME 67987 DEFERRED TUITION INCOME 1546291 UNAMORTIZED DISCOUNT ON POOLED INCOME FUNDS 304722 INTEREST RATE SWAP 1667151 3586151 X 50009661 13628876 13628876 36380785 133812 4740368 4874180 41254965 31841607 746348 746348 31095259 133812 5104077 5237889 36333148 PART II, LINE 9: THE LAND IS INCLUDED AT COST ON THE BALANCE SHEET OF THE ORGANZATION. PART V, LINE 4: GILMAN SCHOOL'S SPENDING RATE IS DETERMINED BY THE BUDGET AND FINANCE COMMITTEE. THE BUDGET AND FINANCE COMMITTEE MAY ASK FOR INPUT FROM THE CHAIRMAN OF THE INVESTMENT COMMITTEE TO HELP DETERMINE THE APPROPRIATE SPENDING POLICY. RECOGNIZING THAT FINANCIAL ASSETS WILL FLUCTUATE IN VALUE, THE POLICY OF THE SCHOOL HAS BEEN AND WILL CONTINUE TO BE TO REVIEW THE ENDOWMENT SPENDING RATE PERIODICALLY BUT TO REFRAIN FROM FREQUENT CHANGES IN THE SPENDING RATE THAT MAY APPEAR TO REFLECT RESPONSES TO SHORT-TERM MARKET MOVEMENTS RATHER THAN TO LONGER TERM INVESTMENT OBJECTIVES. BEGINNING WITH THE 2010/11 FISCAL YEAR, GILMAN SCHOOL'S ENDOWMENT SPENDING RATE WAS 5% (UP FROM A BLENDED RATE OF 4.3%). CURRENTLY, IT IS THE SCHOOL'S POLICY TO REDUCE THE SPENDING RATE 0.1% EVERY YEAR UNTIL IT REACHES 4%. PART X, LINE 2: THE SCHOOL ADOPTED THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS POLICY, THE SCHOOL MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WOULD BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. MANAGEMENT HAS EVALUATED THE SCHOOL'S TAX POSITIONS AND HAS CONCLUDED THAT THE SCHOOL HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THIS GUIDANCE. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE JUNE 30, 2011. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID & TUITION REMISSION NETTED ON FINANCIAL STATEMENT 4,924,341. COST OF GOODS SOLD NETTED AGAINST INCOME ON FINANCIAL STATEMENT -363,709. RENTAL INCOME NETTED WITH EXPENSES ON THE FINANCIAL STATEMENT 210,839. FUNDRAISING EXPENSES NETTED WITH REVENUE ON 990 -51,738. OTHER INCOME NETTED WITH EXPENSES ON THE FINANCIAL STATEMENT 20,635. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD NETTED WITH INCOME ON FINANCIAL STATEMENT 363,709. SWAP MARKET ADJUSTMENT 382,639. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID & TUITION REMISSION NETTED ON FINANCIAL STATEMENT 4,924,341. RENTAL REVENUE NETTED WITH EXPENSES ON FINANCIAL STATEMENT 210,839. FUNDRAISING EXPENSES NETTED WITH REVENUE ON 990 -51,738. OTHER REVENUE NETTED WITH EXPENSES ON FINANCIAL STATEMENT 20,635. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 PUBLISHED IN SCHOOL BROCHURES, APPLICATION FOR ADMISSION AND IN THE LOCAL TRADE NEWSPAPERS/PERIODICALS. EUROPE (INCLUDING ICELAND & GREENLAND) - 0 0 PROGRAM SERVICES MIDDLE SCHOOL TRIP 101467 CENTRAL AMERICA AND THE CARIBBEAN - 0 0 INVESTMENTS 32999384 0 0 0 0 0 0 33100851 0 33100851 1 0 0 0 0 0 BULL ROAST 91686 3764 87922 17869 1092 31756 91686 3764 87922 17869 1092 31756 50717 37205 1 BALTIMORE COMMUNITY FOUNDATION 2 EAST READ STREET 9TH FLOOR BALTIMORE MD 21202 237180620 501(C)(3) 12600 BALTIMORE INDEPENDENT CITY SCHOOLS ALLIANCE FUND 1 0 FINANCIAL AID 259 4088975 PART I, LINE 2: GILMAN PROVIDES FINANCIAL AID TO STUDENTS WHO QUALIFY. THE GRANT REDUCES THE TUITION DUE. PARENTS ARE NEVER GIVEN A CHECK OR CASH FOR A GRANT. X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 SEAN T FURLONG DIR OF FINANCE 178671 0 0 0 575 0 14830 0 66387 0 260463 0 0 0 HENRY SMYTH HEADMASTER 196350 0 0 0 405 0 12385 0 37817 0 246957 0 0 0 JOHN SCHMICK DEVELOPMENT CONSULTANT 273663 0 0 0 108639 0 32786 0 40881 0 455969 0 0 0 TIMOTHY HOLLEY JR DIR OF ATHLETICS 130399 0 0 0 582 0 7833 0 31294 0 170108 0 0 0 MARY KATE RATCLIFFE DIR OF DEVELOPMENT 146745 0 0 0 1243 0 11597 0 9456 0 169041 0 0 0 ROBERT HERRMANN LOWER SCHOOL HEAD 122730 0 0 0 584 0 10076 0 21814 0 155204 0 0 0 PART I, LINE 1A HEADMASTER, JOHN SCHMICK, AND HEADMASTER, HENRY SMYTH, RECEIVED A RESIDENCE FOR PERSONAL USE AND PERSONAL SERVICES DURING THE YEAR. THESE BENEFITS ARE NOT TAXABLE AND ARE INCLUDED IN SCHEDULE J, PART II, COLUMN D. HEADMASTER, JOHN SCHMICK, RECEIVED GROSS-UP PAYMENTS. THIS BENEFIT IS INCLUDED IN TAXABLE COMPENSATION IN SCHEDULE J, PART II, COLUMN BIII. A MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY 520936091 574217XB6 2006-06-01 30000000 CONSTRUCTION 0 1 0 A 30000000 30000000 2009 0 0 1 1 A 0 0 0 0 0 0 0 A 1 1 1 SUN TRUST 30.000000000000 0 0 0 0 0 A 0 X 25 625699 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 GILMAN'S EXECUTIVE COMMITTEE OF THE BOARD REVIEWS THE DRAFT AND MEETS TO DISCUSS VIA TELECONFERENCE. THE DRAFT IS THEN SENT TO THE ENTIRE BOARD ASKING THEM TO REVIEW THE FORM AND PROVIDE ANY QUESTIONS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY APPLIES TO ALL BOARD OF TRUSTEES OF GILMAN SCHOOL; ANY PERSON WHO SERVES ON A COMMITTEE OF THE BOARD OF TRUSTEES, ALL MEMBERS OF SCHOOL'S ADMINISTRATION; AND THE OFFICERS AND BOARD MEMBERS OF ASSOCIATIONS AND ORGANIZATIONS AFFILIATED WITH THE SCHOOL, SUCH AS THE PARENTS ASSOCIATION AND ALUMNI ASSOCIATION. THE PERSONS ENUMERATED ABOVE OR DESIGNATED BY THE BOARD OF TRUSTEES SHALL BE REFERRED TO AS "GILMAN SCHOOL COVERED PERSONS". SHOULD A CONFLICT OF INTEREST ARISE, THE INDIVIDUAL WITH THE CONFLICT SHALL DISCLOSE IN WRITING THE EXISTENCE OF THE CONFLICT TO THE PRESIDENT OF THE BOARD. ANY CONFLICT OF INTEREST OR POTENTIAL CONFLICT OF INTEREST SHALL BE DISCLOSED PROMPTLY TO THE BOARD OF TRUSTEES. CONFLICTS OF INTEREST MAY BE DIFFICULT TO IDENTIFY IN ADVANCE, BUT OFTEN BECOME CLEARER IN HINDSIGHT. NORMALLY PERSONAL VALUES AND INTEGRITY ARE A GUIDE TO THE RIGHT DECISION. WHEN IN DOUBT, A GILMAN SCHOOL COVERED PERSON SHOULD CONSIDER ASKING THEMSELVES THE FOLLOWING QUESTIONS: - IS MY ACTION LEGAL AND ETHICAL? - IS MY ACTION HONEST IN EVERY RESPECT? - WOULD I BE PROUD TO READ ABOUT MY ACTION IN THE NEWSPAPER? - CAN I DEFEND MY ACTION WITH A CLEAR CONSCIENCE? IF A GILMAN SCHOOL COVERED PERSON CANNOT READILY ANSWER EACH OF THE FOLLOWING QUESTIONS IN THE AFFIRMATIVE, HE OR SHE LIKELY SHOULD NOT PROCEED WITH THE ACTION. UNLESS IT IS ABSOLUTELY CLEAR TO THE INDIVIDUAL THAT A CONFLICT OF INTEREST IS NOT PRESENT, HE OR SHE MUST SEEK GUIDANCE FROM (AND DISCLOSE ALL IMPORTANT FACTS TO) THE PRESIDENT OF THE BOARD OF TRUSTEES (OR IN HIS ABSENCE ANY OTHER OFFICER OF THE BOARD) AND THE HEADMASTER. EACH YEAR, GILMAN'S DEVELOPMENT OFFICE ASKS EACH BOARD MEMBER TO SUBMIT A CONFLICT OF INTEREST STATEMENT. FORM 990, PART VI, SECTION B, LINE 15A THE HEADMASTER'S PERFORMANCE AND COMPENSATION ARE REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD. VARIOUS BENCHMARKS (NAIS, AIMS) FOR SCHOOLS OF COMPARABLE SIZE OF STUDENTS ARE USED TO ESTABLISH A COMPENSATION PACKAGE THAT IS ABOVE AVERAGE FOR A SCHOOL OF OUR SIZE. THE HEADMASTER DETERMINES THE COMPENSATION OF ALL OTHER EMPLOYEES ALSO USING COMPARABLE DATA. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAIABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: SWAP MARKET ADJUSTMENT -382,639. ROLAND NORTHERN BRIDGE COMPANY 5407 ROLAND AVENUE BALTIMORE MD 21210 300088452 BUILDING AND MAINTENANCE OF PEDESTRIAN BRIDGES MD 501(C)(3) LINE 11A, I N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0