2015-05-14T14:51:11-05:00 2014-06-30 420714325 MCGLADREY LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2013-07-01 520635092 LANDON SCHOOL CORPORATION LAND 3013203200 6101 WILSON LANE BETHESDA MD 20817 JEREMY KUGEL COO/CFO 3013203200 2015-05-13 1 WILLIAM E TURCO CPA P00369217 3012963600 2013 2016-02-25 16:41:14Z DAVID M ARMSTRONG 6101 WILSON LANE BETHESDA MD 20817 35926540 0 X WWW.LANDON.NET X 1936 MD MAINTAINING EDUCATIONAL PROGRAMS FOR STUDENTS AT THE ELEMENTARY AND HIGH SCHOOL LEVELS. 31 30 345 30 0 0 4329193 5092961 23815872 24777769 846615 648688 259289 378801 29250969 30898219 2825789 3211128 0 0 17098646 16908939 0 0 1380255 8286439 8360930 28210874 28480997 1040095 2417222 40444225 43707492 25389212 24514566 15055013 19192926 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 22818243 3211128 24824845 MAINTAINING EDUCATIONAL PROGRAMS FOR STUDENTS AT THE ELEMENTARY AND HIGH SCHOOL LEVELS. 22818243 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 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 69 0 1 345 1 1 1 0 0 0 0 0 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 HOYT SHERMAN JOYCE CHAIRMAN 1.50 X X 0 0 0 JOSEPH KENARY JR VICE CHAIRMAN 1.50 X X 0 0 0 STEVEN BERNARD GEWIRZ SECRETARY 1.50 X X 0 0 0 WILLIAM CARTER HERTZBERG TREASURER 1.50 X X 0 0 0 MICHAEL BANKS TRUSTEE 1.50 X 0 0 0 FRANCIS DAY IV TRUSTEE 1.50 X 0 0 0 ROBERT EDWARDS JR 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 MICHELLE FREEMAN 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 BRIGHAM KIPLINGER 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 EVAN BRETT MCMAHON TRUSTEE 1.50 X 0 0 0 AMY RUTH MELMAN 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 HOUSTON KEITH POWELL 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 LAURA ZAIMI TRUSTEE 1.50 X 0 0 0 DAVID M ARMSTRONG PRESIDENT/HEADMASTER 60.00 X X 357352 0 322092 JEREMY KUGEL COO/CFO 60.00 X 168166 0 31472 LEONARD ARMSTRONG HEAD OF LOWER SCHOOL 60.00 X 127101 0 67761 EHREN FEDEROWICZ HEAD OF UPPER SCHOOL 60.00 X 120773 0 67352 DANA KREIN HEAD OF MIDDLE SCHOOL 60.00 X 71379 0 3716 HANS FARNSTROM FACULTY 60.00 X 149306 0 21061 RANDALL BEDNAR ASSOC. HEAD OF LOWER SCHOOL 60.00 X 124575 0 25305 ALAN ROSENTHAL FACULTY 60.00 X 123714 0 7143 GEORGE C PAPPAS ASSOCIATE DIR. OF DEVELOPMENT 60.00 X 126592 0 8440 BARBARA GOODWYN DIRECTOR OF DEVELOPMENT 60.00 X 127548 0 55058 1496506 0 609400 23 0 1 0 SODEXO INC PO BOX 536922 ATLANTA GA 30353 FOOD SERVICE 820976 WALDEN'S PLUMBING LLC 594 KEVINS DRIVE ARNOLD MD 21012 PLUMBING SERVICE 296564 WEAVER BROTHERS P O BOX 79579 BALTIMORE MD 212790579 INSURANCE BROKER 264792 CJ MAINTENANCE INC 9254 BENDIX ROAD COLUMBIA MD 21045 FACILITY SERVICES 201640 4 52680 5040281 242912 5092961 TUITION & FEES 900099 23032707 23032707 AUXILIARY SERVICES 900099 1745062 1745062 24777769 172094 172094 167501 0 167501 167501 167501 4293910 675577 4293232 199661 678 475916 476594 476594 520785 52680 385900 134885 134885 196604 149528 47076 47076 OTHER INCOME 900099 29339 29339 29339 30898219 24824845 0 980413 3211128 3211128 1094184 885375 157100 51709 12181842 10007236 1591595 583011 641446 463579 150257 27610 2032267 1468738 476054 87475 959200 693223 224690 41287 24112 24112 70950 70950 74572 74572 5000 5000 28126 106 28020 242421 67063 128463 46895 109120 109120 1587956 1565003 22929 24 253291 142804 58638 51849 422709 405995 16714 532547 436688 69232 26627 1815545 1488747 236021 90777 313630 257177 40771 15682 FOOD SERVICES 591218 591218 SUMMER PROGRAMS 370981 370981 ATHLETICS 337245 337245 BAD DEBTS 299623 299623 1281884 722918 246391 312575 28480997 22818243 4282499 1380255 500 500 4437786 4746246 2489148 1457635 751182 524679 456794 465887 87284 75043 53279 92416 61195463 37955528 23293916 23239935 8593425 12501291 201744 527860 79167 76000 40444225 43707492 1821595 1750487 9407223 9658876 8924350 8329394 2512665 2158111 2723379 2617698 25389212 24514566 X -3365968 -2234677 6757770 7784092 11663211 13643511 15055013 19192926 40444225 43707492 X 2417222 1556565 164126 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16378060 2316437 1649902 40566 20303833 14510915 1218680 1027253 378788 16378060 14908950 266793 -236047 427781 14511915 14198660 93155 1077052 459917 14908950 14158372 33098 68058 60868 14198660 0.17190 0.67200 0.15610 0 0 509249 509249 1485094 44969277 25935080 20519291 1733874 1704840 29034 12497969 10315608 2182361 23239935 CAPITAL LEASE OBLIGATIONS 194185 INTEREST RATE SWAP AGREEMENT 805010 FUNDS HELD FOR OTHERS 205068 DEFERRED COMPENSATION 1413435 2617698 X 29704512 1556565 -3211128 -1654563 31359075 74572 -535428 -460856 30898219 25730725 535428 535428 25195297 74572 3211128 3285700 28480997 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 -3,211,128. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES RECORDED ON LINE 8B -385,900. COST OF GOODS SOLD REPORTED ON LINE 10B -149,528. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES RECORDED ON LINE 8B 385,900. COST OF GOODS SOLD REPORTED ON LINE 10B 149,528. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL ASSISTANCE NETTED AGAINST TUITION IN THE FINANCIAL STATEMENT 3,211,128. 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) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES OVERSEAS TRIPS 134523 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 326116 0 0 0 0 0 0 460639 0 460639 0 0 0 0 0 0 AZALEA FESTIVAL 462926 52680 410246 274256 GREENS SALE 110539 110539 111644 573465 52680 520785 385900 385900 134885 1 TUITION FINANCIAL AID 172 3211128 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 352018 0 0 0 5334 0 266829 0 55784 0 679965 0 0 0 JEREMY KUGEL COO/CFO 167746 0 0 0 420 0 12344 0 19574 0 200084 0 0 0 LEONARD ARMSTRONG HEAD OF LOWER SCHOOL 126776 0 0 0 325 0 8633 0 63020 0 198754 0 0 0 EHREN FEDEROWICZ HEAD OF UPPER SCHOOL 120466 0 0 0 307 0 8224 0 59450 0 188447 0 0 0 HANS FARNSTROM FACULTY 146897 0 0 0 2409 0 7404 0 13948 0 170658 0 0 0 RANDALL BEDNAR ASSOC. HEAD OF LOWER SCHOOL 123899 0 0 0 676 0 6177 0 19371 0 150123 0 0 0 BARBARA GOODWYN DIRECTOR OF DEVELOPMENT 125457 0 0 0 2091 0 8440 0 46948 0 182936 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 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 SCHOOL CONTRIBUTED $250,000 FOR CALENDAR YEAR ENDING 2013 IN THE 457(F) PLAN. 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 1784870 10114264 107717 10006547 2011 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 1 1 SUNTRUST 8.000000000000 0 0 0 0 1 A 1 X 9 117615 MARKET VALUE X AUCTION ITEMS 89 125297 FMV 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 164,126. 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.