2014-03-13T14:56:35-05:00 2013-06-30 420714325 MCGLADREY LLP 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2012-07-01 520613675 GREEN ACRES SCHOOL INC GREE 3018814100 11701 DANVILLE DRIVE ROCKVILLE MD 20852 NEAL BROWN 3018814100 2014-03-12 1 WILLIAM E TURCO CPA P00369217 3012963600 2012 2015-11-30 17:44:51Z NEAL BROWN 11701 DANVILLE DRIVE ROCKVILLE MD 20852 11743934 0 X WWW.GREENACRES.ORG X 1934 MD PRESCHOOL AND ELEMENTARY EDUCATION (NURSERY THROUGH EIGHTH GRADES) FOR OVER 300 CHILDREN CONDUCTED ON PROGRESSIVE LINES IN WHICH THE OBJECTIVE IS TO EMPHASIZE INDIVIDUAL DEVELOPMENT. 23 19 182 70 0 0 439287 471541 10339255 10975878 135149 196254 72493 65702 10986184 11709375 1181186 1194869 0 0 6756490 7132400 0 0 457222 3413931 3094474 11351607 11421743 -365423 287632 22678405 23278060 12002121 11793736 10676284 11484324 A PRESCHOOL AND ELEMENTARY EDUCATION (NURSERY THROUGH EIGHTH GRADE) FOR OVER 300 CHILDREN CONDUCTED ON PROGRESSIVE LINES IN WHICH THE OBJECTIVE IS TO EMPHASIZE INDIVIDUAL DEVELOPMENT. 0 0 9305632 1194869 10975878 PRESCHOOL AND ELEMENTARY EDUCATION (NURSERY THROUGH EIGHTH GRADE) FOR OVER 300 CHILDREN CONDUCTED ON PROGRESSIVE LINES IN WHICH THE OBJECTIVE IS TO EMPHASIZE INDIVIDUAL DEVELOPMENT. 9305632 1 1 0 0 0 0 0 0 0 1 1 1 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 23 0 1 182 1 0 0 0 0 0 1 1 0 0 0 0 X 23 19 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 MD X BRENDA ROBINSON 3018814100 11701 DANVILLE DRIVE ROCKVILLE MD 20852 AMY NILES 2.00 X X 0 0 0 MICHAEL GABA 2.00 X X 0 0 0 ABBA BLUM 2.00 X X 0 0 0 MICHELE DREYFUSS 2.00 X X 0 0 0 ALAN ADLER 2.00 X 0 0 0 KATARA ALEEM 2.00 X 0 0 0 STEVE BOYLE 2.00 X 0 0 0 JOE CABUSH 2.00 X 0 0 0 MARGE DIMOND 2.00 X 0 0 0 GREG KAUFMANN 2.00 X 0 0 0 ROBERT KOSASKY 2.00 X 0 0 0 MEGAN LEONE-PERKINS 2.00 X 0 0 0 SEAN LEV 2.00 X 0 0 0 ANITA LYNN 2.00 X 0 0 0 LINDA MATKOVIC 2.00 X 0 0 0 ADAM PORTER 2.00 X 0 0 0 CARISA SULEMAN 2.00 X 0 0 0 BOB WEISS 2.00 X 0 0 0 SARAH WERNER 2.00 X 0 0 0 KYE FREEMAN 39.00 X 59574 0 4254 DAVID SHERIDAN 39.00 X 55544 0 13183 MARY SING 22.00 X 39052 0 2963 NEAL BROWN 40.00 X X 263726 0 43864 BRENDA ROBINSON 40.00 X 129599 0 10261 MARYLOUISE BRACHO 40.00 X 105754 0 26733 PETER H BRAVERMAN 40.00 X 101366 0 8360 ANNIE GROAT 40.00 X 101039 0 20872 855654 0 130490 5 0 1 0 COUGHLIN TRANSPORTATION 7961 QUEENAIR DRIVE GAITHERSBURG MD 20879 STUDENT TRANSPORTATION 326966 UNIVERSAL JANITORIAL SERVICES INC 3911 OLD LEE HIGHWAY FAIRFAX VA 22030 JANITORIAL SERVICES 190525 2 55617 415924 58354 471541 TUITION & RELATED FEES 900099 9658627 9658627 AUXILIARY SERVICES 900099 1026481 1026481 TRANSPORTATION FEES 900099 290770 290770 10975878 196254 196254 83001 55617 32412 50589 50589 6800 80 6720 6720 3921 2067 1854 1854 OTHER INCOME 900099 6539 6539 6539 11709375 10975878 0 261956 1194869 1194869 639638 497227 142411 4629001 3317506 996875 314620 301769 240777 44008 16984 1163764 965985 143352 54427 398228 287707 86453 24068 69660 65043 4303 314 25250 23576 1560 114 12016 12016 21404 21161 185 58 53711 6016 47695 218483 178224 13532 26727 224522 199291 24579 652 446367 435446 8300 2621 338770 338770 71830 55639 16191 229983 224233 4370 1380 603619 599821 3798 35963 30711 5066 186 SUMMER CAMP 516074 516074 DISCRETIONARY FUNDS 48023 17091 30932 FOOD 41434 40658 590 186 BAD DEBT 41368 30644 10724 95997 19163 76471 363 11421743 9305632 1658889 457222 7414260 3963405 116362 67341 20693 2834 53156 22974 8825 9697 136467 137886 15837761 7284406 9081430 8553355 2349416 3928758 3160817 6268022 336979 323788 22678405 23278060 207096 287465 5038118 5041373 6668780 6378454 88127 86444 12002121 11793736 X 9020186 9674836 626150 764372 1029948 1045116 10676284 11484324 22678405 23278060 X 287632 516641 3767 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6665283 252864 654593 224231 7348509 6269983 435324 154775 194800 6665282 5088998 535428 828080 182523 6269983 4446088 461594 393989 212673 5088998 4872507 469765 -706443 189741 4446088 0.77610 0.14220 0.08170 0 0 41113 41113 15079179 6678469 8400710 717469 605937 111532 8553355 587482 F 100,804.569-TOTAL STOCK MKT IX SIGNAL (VTSSX) 4037998 F 153,904.208-TOTAL BOND MKT IX SIGNAL (VTSSX) 1642542 F 6268022 CUSTODIAL ACCOUNTS 21331 DEFERRED COMPENSATION 65113 86444 X 11033214 516641 -1194869 -678228 11711442 -2067 -2067 11709375 10225174 -1700 -1700 10226874 1194869 1194869 11421743 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: BOARD DESIGNATED NET ASSETS AT JUNE 30, 2013 ARE AVAILABLE FOR THE FOLLOWING PURPOSES: FACULTY SALARY ENHANCEMENT, CAPITAL IMPROVEMENT, HEAD SEARCH RESERVE, SHORT-TERM DISABILITY AND PARENTAL LEAVE RESERVE, POOL RESERVE AND PLAYGROUND RESERVE. PERMANENTLY RESTRICTED NET ASSETS AT JUNE 30, 2013 ARE MADE UP OF SCHOLARSHIPS ENDOWMENT FUND, FACULTY SALARY ENHANCEMENT AND M. HIRTZ EARLY CHILDHOOD UNIT FUND. ALL EARNINGS FROM THESE FUNDS ARE REFLECTED AS TEMPORARILY RESTRICTED NET ASSETS UNTIL APPROPRIATED FOR PROGRAM EXPENDITURES. 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 INTERNAL REVENUE CODE. IN ADDITION, THE SCHOOL QUALIFIES FOR CHARITABLE CONTRIBUTION DEDUCTIONS AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. 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, 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 COMPLIES WITH 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 EXPENSE SHOWN NET OF INCOME ON FINANCIAL STATEMENTS -1,194,869. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD PRESENTED ON LINE 10B ON PAGE 9 -2,067. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD PRESENTED ON LINE 10B ON PAGE 9 2,067. GAIN ON INTEREST RATE CAP AGREEMENT -3,767. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSE SHOWN NET OF INCOME ON FINANCIAL STATEMENTS 1,194,869. 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 AN ANNOUNCEMENT IS PLACED IN THE WASHINGTON POST NEWSPAPER PUBLICIZING THE SCHOOL'S NONDISCRIMINATION POLICY. AUCTION 138618 55617 83001 32412 138618 55617 83001 32412 32412 50589 1 FINANCIAL AID TO STUDENTS 68 1194869 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE SCHOOL'S FINANCIAL AID PROGRAM IS DESIGNED TO ASSIST FAMILIES WITH NEED BY COVERING A PART OF THE COST OF TUITION AND OTHER EXPENSES AT THE SCHOOL. WE SEND FINANCIAL AID INFORMATION AND APPLICATION MATERIALS TO ALL OF OUR APPLICANT FAMILIES. TO ENSURE OBJECTIVITY, GREEN ACRES SCHOOL SUBSCRIBES TO THE SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID (SSS) IN PRINCETON, NEW JERSEY. THIS SERVICE REQUIRES THAT PARENTS SEND TO THEM A PARENTS' FINANCIAL STATEMENT WITH A SMALL FEE. WITH THIS INFORMATION, SSS CALCULATES HOW MUCH PARENTS SHOULD BE EXPECTED TO PAY. COPIES OF CURRENT YEAR TAX FORMS MUST ALSO BE SUBMITTED DIRECTLY TO THE SCHOOL. FAMILIES SEEKING FINANCIAL AID MUST APPLY FOR FINANCIAL AID EACH YEAR. AT GREEN ACRES SCHOOL, THE FINANCIAL AID PROCESS IS HANDLED BY OUR BUSINESS OFFICE RATHER THAN BY OUR ADMISSION OFFICE. THIS PLAN SUPPORTS OUR 'NEED BLIND' ADMISSION POLICY. ADMISSION DECISIONS ARE MADE FIRST BY AN ADMISSION COMMITTEE WITHOUT REGARD TO WHICH FAMILIES MAY OR MAY NOT HAVE APPLIED FOR FINANCIAL AID. AFTER ADMISSION DECISIONS ARE MADE, GRANTS ARE DETERMINED FOR ACCEPTED FAMILIES WHO QUALIFY BY A FINANCIAL AID COMMITTEE, CONSISTING OF THE HEAD AND BUSINESS OFFICE STAFF MEMBERS. X 1 1 X X X 0 0 0 0 0 0 0 0 0 NEAL BROWN 215287 0 0 0 48439 0 17647 0 27032 0 308405 0 0 0 PART I, LINE 1A NEAL BROWN RECEIVED A TAX GROSS-UP ON A TAXABLE BENEFIT REPORTED IN SCHEDULE J, PART II, COLUMN(B)(III) IN THE AMOUNT OF $18,769. A MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY 520936091 2011-09-29 6855000 REPAYMENT OF 1998 AND 2005 BONDS 0 0 0 A 476546 6855000 133143 6721857 2011 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 0 0 1 TD BANK 19.500000000000 0 0 0 0 1 A 1 X 6 2010 SELLING PRICE X 40 SELLING PRICE X 675 SELLING PRICE X 1 3449 AVERAGE DAILY PRICE X 16 1059 SELLING PRICE X 46 11626 SELLING PRICE X GIFT CARDS & CERTIFICATES 173 39495 SELLING PRICE 0 1 0 FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION (THE "MEMBERS" OR, COLLECTIVELY, THE "MEMBERSHIP") SHALL BE: (A)EACH PARENT, LEGAL GUARDIAN OR CUSTODIAN (HEREAFTER "PARENT") OF A CHILD ENROLLED IN THE SCHOOL, PROVIDED THAT (I) THERE SHALL BE NO MORE THAN TWO PARENTS FOR ANY CHILD AND (II) THE PARENT(S) OF EACH CHILD SHALL BE THOSE PERSONS OR THAT PERSON WHO SIGN THE ENROLLMENT FORM SUBMITTED TO THE SCHOOL AND THEREBY BECOME RESPONSIBLE FOR THE CHILD'S TUITION AND FEES, UNLESS THOSE PERSONS OR THAT PERSON DESIGNATES ON THAT FORM ONE OR TWO OTHER PARENTS FOR MEMBERSHIP PURPOSES; (B)ANY PERSON SERVING AS A TRUSTEE ON THE BOARD; (C)EACH PERSON THAT IS REGULARLY EMPLOYED BY THE SCHOOL (SUCH EMPLOYEES SHALL HEREAFTER BE REFERRED TO AS "STAFF"). FORM 990, PART VI, SECTION A, LINE 7A THERE SHALL BE AN ANNUAL MEETING OF THE MEMBERSHIP FOR THE PURPOSE OF ELECTING TRUSTEES (UNLESS SUCH ELECTION IS CONDUCTED BY REFERENDUM IN ACCORDANCE WITH THESE BY-LAWS). FORM 990, PART VI, SECTION A, LINE 7B THERE SHALL BE AN ANNUAL MEETING OF THE MEMBERSHIP FOR THE PURPOSE OF ELECTING TRUSTEES (UNLESS SUCH ELECTION IS CONDUCTED BY REFERENDUM IN ACCORDANCE WITH THESE BYLAWS), FOR PRESENTING THE BUDGET AND FINANCIAL CONDITION OF THE CORPORATION, AND FOR DISCUSSION OF ANY TOPICS THAT THE BOARD MAY PLACE ON THE AGENDA FOR THE MEETING. IN ADDITION, THE BOARD MAY, AT ITS DISCRETION, SCHEDULE ADDITIONAL SPECIAL MEETINGS OF THE MEMBERSHIP. THE BOARD SHALL DESIGNATE THE SPECIFIC TIMES AND THE AGENDAS FOR ALL SUCH MEETINGS, BUT THE ANNUAL MEETING SHALL BE HELD BEFORE JUNE 1 OF EACH YEAR. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE BUSINESS OFFICE DURING PREPARATION AND AFTER COMPLETION AND BEFORE BEING FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY HAS A "DUTY TO DISCLOSE" SECTION WHICH OUTLINES HOW POTENTIAL OR REAL CONFLICTS OF INTEREST ARE BROUGHT TO THE ATTENTION OF THE HEAD OF SCHOOL, OR TO THE ATTENTION OF THE BOARD PRESIDENT AND/OR VICE PRESIDENT. IT ALSO EXPLAINS THE ROLE THAT THE BOARD OF TRUSTEES' EXECUTIVE COMMITTEE PLAYS IN CONSIDERING POTENTIAL CONFLICTS OF INTEREST AND DETERMINING THE APPROPRIATE STEPS TO TAKE. FORM 990, PART VI, SECTION B, LINE 15 THE SALARIES OF THE OFFICERS AND KEY EMPLOYEES ARE DECIDED BY THE USE OF COMPARABLE SALARY DATA AS PROVIDED BY THE INDEPENDENT EDUCATION (IE) AND THE ASSOCIATION OF MARYLAND INDEPENDENT SCHOOLS. THE AMOUNT OF THE FINAL COMPENSATION NUMBER IS THEN APPROVED BY THE HEAD OF SCHOOL. THE SALARY FOR THE HEAD OF SCHOOL IS APPROVED BY THE BOARD OF TRUSTEES. CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION IS DOCUMENTED. 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: GAIN ON INTEREST RATE CAP AGREEMENT 3,767.