2014-02-07T13:30:51-06:00 2013-06-30 420714325 MCGLADREY LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2012-07-01 520701774 KEY SCHOOL INC KEYS 4102639231 543 HILLSMERE DRIVE ANNAPOLIS MD 21403 KENNETH PIEL 4102639231 2014-02-07 1 WILLIAM E TURCO CPA P00369217 3012963600 2012 2015-11-30 17:44:51Z MARCELLA YEDID 543 HILLSMERE DRIVE ANNAPOLIS MD 21403 18139526 0 X WWW.KEYSCHOOL.ORG X 1959 MD INDEPENDENT, NON-SECTARIAN, NON-PROFIT, PK - GRADE 12 SCHOOL 25 22 228 300 0 0 836939 994688 16517137 16826833 119414 124591 144139 123378 17617629 18069490 1678565 1761820 0 0 10811892 11152104 0 0 529170 4064566 4100720 16555023 17014644 1062606 1054846 28938331 31566013 13420601 13834873 15517730 17731140 X THE KEY SCHOOL IS FOUNDED UPON THE CONVICTION THAT CHILDREN ARE INNATELY CURIOUS ABOUT THEMSELVES AND THE WORLD; THEY WANT TO LEARN, THEY WANT TO DISCOVER, AND THEY WANT TO CREATE. THE SCHOOL'S ROLE IS TO NOURISH AND GUIDE THIS NATURAL EXUBERANCE, ENERGY AND DELIGHT IN THE SEARCH FOR MEANING, SO THAT EACH STUDENT MAY DEVELOP INTO AN INFORMED, THOUGHTFUL AND CONSTRUCTIVE MEMBER OF SOCIETY, WITH A LIFELONG COMMITMENT TO LEARNING. 0 0 13135144 1761820 16826833 PROVIDES EDUCATION FOR STUDENTS FROM PRESCHOOL THROUGH GRADE 12 - APPROXIMATELY 700 STUDENTS. 13135144 1 1 0 0 0 0 1 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 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 49 0 1 228 1 0 0 0 0 0 1 1 0 0 0 0 X 25 22 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MD X KEN PIEL 4102639231 543 HILLSMERE DRIVE ANNAPOLIS MD 21403 WESLEY R JONES 1.00 X X 0 0 0 PAM WILLIAMS 1.00 X X 0 0 0 PETER BICHE 1.00 X X 0 0 0 WENDELL WEBSTER 1.00 X X 0 0 0 CHARLES ANTHONY 1.00 X 0 0 0 MISSY ATTRIDGE 1.00 X 0 0 0 MARK BAGANZ 1.00 X 0 0 0 GEORGIE BERKINSHAW 1.00 X 0 0 0 MARIE BROCKHURST 1.00 X 0 0 0 MICHAEL COOK 1.00 X 0 0 0 KATHERINE EDWARDS 1.00 X 0 0 0 LEANDER FOLEY III 1.00 X 0 0 0 KRISTIN FUSCO 1.00 X 0 0 0 KITOU FUTRELL 1.00 X 0 0 0 NIELS HOLCH 1.00 X 0 0 0 JOSEPH JANNEY 1.00 X 0 0 0 STEVEN KAHLE 1.00 X 0 0 0 LAWRENCE KAST 1.00 X 0 0 0 LORI MATHIS 1.00 X 0 0 0 TROY MAYER 1.00 X 0 0 0 CHRISTINE PETERSON 1.00 X 0 0 0 JERRY SPARER 1.00 X 0 0 0 STEPHEN WRAGE 1.00 X 0 0 0 ALANNA WRIGHT 1.00 X 0 0 0 MARCELLA YEDID 60.00 X X 335529 0 34854 KENNETH PIEL 55.00 X 179873 0 14908 JESSIE DUNLEAVY 55.00 X 127220 0 12033 DAVID MAGNUS 55.00 X 123711 0 11608 TODD CASEY 55.00 X 115408 0 12206 EMILY LEGUM 55.00 X 103345 0 11192 SUSAN ROSENDAHL 55.00 X 102239 0 11303 1087325 0 108104 7 0 1 0 CJ MAINTENANCE 9254 BENDIX ROAD COLUMBIA MD 21045 CLEANING SERVICE 172382 1 7282 39475 947931 10927 994688 TUITION & FEES 900099 16457640 16457640 SUMMER CAMP 900099 369193 369193 16826833 124591 124591 35800 4350 31450 31450 31450 61726 39475 47123 14603 14603 19491 18563 928 928 OTHER REVENUE 900099 76397 76397 76397 18069490 16826833 0 247969 1761820 1761820 566064 397115 145296 23653 7758621 5442923 1991523 324175 307653 215849 78944 12860 1899024 1332355 487288 79381 620742 435513 159282 25947 10092 9831 190 71 36200 36200 9571 9571 13649 13649 248027 208414 38117 1496 101180 100973 151 56 955438 955438 424040 424040 688342 670582 12942 4818 63156 61527 1188 441 INSTRUCTIONAL EXPENSES 701672 701672 ADMINISTRATIVE EXPENSES 257759 201930 55829 SUMMER PROGRAMS 243061 243061 BAD BEBT 138092 138092 210441 174031 35967 443 17014644 13135144 3350330 529170 500 600 6755103 8287400 153314 78964 101254 94262 11220 11802 294854 199481 21402588 6036898 15280689 15365690 3249924 7401171 2951827 139646 126643 28938331 31566013 1158816 1121784 1849395 2727862 8870000 8635000 211677 200256 1330713 1149971 13420601 13834873 X 10678428 12260680 421039 974254 4418263 4496206 15517730 17731140 28938331 31566013 X 1054846 863503 295061 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 0 7144071 327943 972199 69678 8374535 6783536 459442 -98907 7144071 5439339 248370 1126528 30701 6783536 4104347 811275 523717 5439339 4539906 206990 -642549 4104347 0.35320 0.53690 0.10990 0 0 1163472 1163472 17323901 5163774 12160127 2436220 873124 1563096 478995 478995 15365690 INTEREST RATE SWAP 985554 OBLIGATIONS UNDER CAPITAL LEASE 164417 1149971 X 16204358 863503 -2741977 -1878474 18082832 9571 -22913 -13342 18069490 14286009 22913 22913 14263096 9571 2741977 2751548 17014644 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: EVENTUALLY, INCOME GENERATED FROM THE ENDOWMENT WILL BE USED TO SUPPORT THE SCHOOL'S MISSION. CURRENTLY, NO INCOME IS DRAWN FROM ENDOWMENT FUNDS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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 IRC. HOWEVER, THE SCHOOL IS SUBJECT TO INCOME TAXES ON UNRELATED BUSINESS INCOME AS DEFINED BY THE INTERNAL REVENUE SERVICE (IRS). DURING THE YEAR ENDED JUNE 30, 2013, THE SCHOOL HAD NO TAXABLE UNRELATED BUSINESS INCOME AND ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REQUIRED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE SCHOOL ADOPTED THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (FASB ASC TOPIC 740-10), WHICH ADDRESSED 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 GUIDANCE, THE SCHOOL MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. MANAGEMENT EVALUATED THE SCHOOL'S TAX POSITIONS AND CONCLUDED THAT THE SCHOOL HAD 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 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -1,761,820. TUITION REMISSION -937,157. BAD DEBT -43,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON LINE 10B -18,563. RENTAL EXPENSES REPORTED ON LINE 6B -4,350. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD REPORTED ON LINE 10B 18,563. RENTAL EXPENSES REPORTED ON LINE 6B 4,350. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 1,761,820. TUITION REMISSION 937,157. BAD DEBT 43,000. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 IN THE NEWSPAPER AND ALL PRINTED MATERIAL, AS WELL AS ON THE WEBSITE. BOOK FESTIVAL 101201 39475 61726 47123 101201 39475 61726 47123 47123 14603 1 FINANCIAL AID TO STUDENTS 141 1761820 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: INDIVIDUAL STUDENTS ARE AWARDED SCHOLARSHIPS BASED ON THE FINANCIAL NEEDS OF THE STUDENT. X X X X 0 0 0 0 0 0 0 0 0 MARCELLA YEDID 335529 0 0 0 0 0 28977 0 6327 0 370833 0 0 0 KENNETH PIEL 179873 0 0 0 0 0 9031 0 6327 0 195231 0 0 0 A ANNE ARUNDEL COUNTY 526000878 035895BL4 2008-12-10 9300000 DEBT REFINANCING & RENOVATIONS 0 1 0 A 665000 9300000 151467 41818 9106715 2009 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 0 1 1 MANUFACTURERS AND TRADERS TRUST 10.000000000000 0 0 0 0 0 A 1 41600 FINANCIAL AID TUITION PAYMENT FORM 990, PART VI, SECTION B, LINE 11 AFTER A REVIEW OF THE FORM 990 BY THE FINANCIAL MANAGEMENT OF THE SCHOOL, THE SCHOOL'S AUDIT COMMITTEE WILL THEN REVIEW THE RETURN. THE FINAL STEP IN THE REVIEW PROCESS WILL BE THE PRESENTATION OF THE FORM 990 TO THE FULL BOARD OF DIRECTORS OF THE SCHOOL. FORM 990, PART VI, SECTION B, LINE 12C KEY SCHOOL MANDATES COMPLETION OF A CONFLICT OF INTEREST POLICY FORM ANNUALLY BY ALL TRUSTEES. THESE FORMS ARE REVIEWED ANNUALLY IN ORDER TO MAINTAIN COMPLIANCE WITH THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES MEETS REGULARLY TO REVIEW SALARIES. BENCHMARK DATA FROM REGIONAL AND NATIONAL STATISTICS ARE REVIEWED FOR COMPARISON. FORM 990, PART VI, SECTION C, LINE 19 THE KEY SCHOOL DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990 IS AVAILABLE TO THE PUBLIC ON GUIDESTAR. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: UNREALIZED GAIN/(LOSS) ON INTEREST RATE SWAP 295,061. DOVE LANE LLC 543 HILLSMERE DRIVE ANNAPOLIS MD 21403 521356766 REAL ESTATE HOLDING COMPANY MD 35800 300875 KEY SCHOOL INC THE KEY SCHOOL BUILDING & FINANCE CORP 534 HILLSMERE DRIVE ANNAPOLIS MD 21403 521745985 DORMANT MD KEY SCHOOL INC C 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0