2014-11-14T09:08:08-06:00 2014-06-30 205991824 SC&H TAX & ADVISORY SERVICES LLC 910 RIDGEBROOK ROAD SPARKS MD 21152 990 2013-07-01 520591645 OLDFIELDS SCHOOL INC OLDF 4104724800 1500 GLENCOE ROAD GLENCOE MD 21152 ROBERT A ROSENBAUM TRUSTEE 4104724800 2014-11-11 1 LORI S BURGHAUSER P00370694 4104031500 2014-11-11 2013 2015-11-30 17:44:51Z PARNELL P HAGERMAN 1500 GLENCOE ROAD GLENCOE MD 21152 11257846 0 X OLDFIELDSSCHOOL.COM X 1926 MD TO PROVIDE EDUCATION OF STUDENTS PRIMARILY IN GRADES 8 THROUGH 12. 20 19 77 50 0 0 2790490 2112388 8092062 8090419 161158 364888 37887 74943 11081597 10642638 1317690 1268481 0 0 4305159 4367978 0 0 82806 4954368 4127390 10577217 9763849 504380 878789 22588555 24244721 4852397 4824509 17736158 19420212 X OLDFIELDS SCHOOL IS COMMITTED TO THE INTELLECTUAL AND MORAL DEVELOPMENT OF YOUNG WOMEN. IN A CULTURE OF KINDNESS AND MUTUAL RESPECT, WE ENCOURAGE EACH STUDENT TO MAKE THE MOST OF HER ACADEMIC AND PERSONAL POTENTIAL. WE SEEK TO GUIDE EACH STUDENT TO GROW IN CHARACTER, CONFIDENCE, AND KNOWLEDGE BY ENCOURAGING HER TO EMBRACE THE VALUES OF PERSONAL HONESTY, INTELLECTUAL CURIOSITY, AND SOCIAL RESPONSIBILITY. 0 0 7487983 1268481 8090419 FOUNDED IN 1867, OLDFIELDS SCHOOL COMBINES TRADITION AND INNOVATION WHILE REMAINING TRUE TO ITS FUNDAMENTAL MOTTO, "COURAGE, HUMILITY, AND LARGENESS OF HEART". APPROXIMATELY 180 STUDENTS GIRLS ARE ENROLLED IN OLDFIELDS SCHOOL AND THE STUDENT BODY IS MADE UP OF STUDENTS FROM ACROSS THE UNITED STATES AND ABOUT 10 FOREIGN COUNTRIES. APPROXIMATELY 60 COURSES, INCLUDING HONORS COURSES, ADVANCED PLACEMENT PREPARATION, SPECIAL SEMINARS, MAY PROGRAM, AND ART ELECTIVES ARE OFFERED. EACH GIRL'S EDUCATION IS TAILORED TO HER ABILITIES WITH AN AVERAGE CLASS SIZE OF 8 STUDENTS AND A 5:1 STUDENT TO FACULTY RATIO. OLDFIELDS IS FOCUSED ON ENSURING "EACH GIRL'S SUCCESS". OLDFIELDS SCHOOL IS LOCATED ON 130 RURAL ACRES NESTLED IN THE BUCOLIC HORSE COUNTRY OF NORTH BALTIMORE COUNTY, MARYLAND. 7487983 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 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 22 0 77 1 0 0 0 0 0 0 0 0 0 0 X 20 19 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 MD X DEROALD HOPKINS BUSINESS MANAGER & CFOCOO 4436621011 1500 GLENCOE ROAD SPARKS MD 21152 HILARY GARDNER SWAIN CHAIR (PART)/VICE CHAIR (PART) 1.00 X X 0 0 0 JOHN W HAWKS CHAIR (PART) 1.00 X X 0 0 0 DEBBIE L HILL VICE CHAIR (PART)/SECRETARY (PART) 1.00 X X 0 0 0 HEIDI DUPONT SECRETARY (PART)/TRUSTEE (PART) 1.00 X X 0 0 0 ROBERT A ROSENBAUM TREASURER 1.00 X X 0 0 0 ILANA FELDBERG ADELMAN TRUSTEE 1.00 X 0 0 0 MARNEY BABBITT TRUSTEE 1.00 X 0 0 0 DAVID C CARROLL TRUSTEE 1.00 X 0 0 0 GEORGE R FLOYD TRUSTEE 1.00 X 0 0 0 R AUGUSTUS EDWARDS TRUSTEE 1.00 X 0 0 0 EMILY EMBREY TRUSTEE 1.00 X 0 0 0 BRYAN ENGLE TRUSTEE 1.00 X 0 0 0 SHEILA WILEY HARRELL TRUSTEE 1.00 X 0 0 0 CARLISLE VANMETER MAYER TRUSTEE 1.00 X 0 0 0 STEPHEN D NEWTON TRUSTEE 1.00 X 0 0 0 FRANK R PALMER IV TRUSTEE 1.00 X 0 0 0 SUSAN S REPKO TRUSTEE 1.00 X 0 0 0 HAWLEY ROGERS TRUSTEE 1.00 X 0 0 0 GAY RICHARDSON SMITH TRUSTEE 1.00 X 0 0 0 THOMAS H WHITELEY TRUSTEE 1.00 X 0 0 0 PARNELL HAGERMAN HEAD OF SCHOOL 40.00 X X 187000 0 41887 LAURA HURD DIRECTOR OF DEVELOPMENT 40.00 X 102000 0 28086 DEROALD R HOPKINS CFO/COO 40.00 X 95000 0 33976 384000 0 103949 2 0 1 0 FLIKCOMPASS GROUP USA PO BOX 91337 CHICAGO IL 606931337 FOOD/DINING SERVICES 698791 1 3750 2108638 73373 2112388 TUITION & FEES 611710 7593648 7593648 AUXILIARY ACTIVITIES 611710 496771 496771 8090419 334776 334776 54873 54873 616659 200 569795 16952 46864 -16752 30112 30112 6445 3750 20646 -14201 -14201 42086 7815 34271 34271 10642638 8090419 0 439831 1268481 1268481 487949 323650 157281 7018 3126200 2060814 1021069 44317 182460 123982 55881 2597 306737 207959 94038 4740 264632 176216 84521 3895 39370 39370 47847 47847 22982 22982 814797 762936 51861 35750 35750 520002 253076 250100 16826 122087 122087 840903 840816 87 90534 59875 30659 142677 142677 763337 763337 172049 20023 152026 EQUESTRIAN EXPENSES 250198 250198 CAFETERIA EXPENSE 69479 69479 STUDENT LIFE 55440 55440 MISCELLANEOUS 37861 24131 13607 123 102077 49143 49644 3290 9763849 7487983 2193060 82806 853922 2166896 319922 131183 1515644 1542610 54287 22583 81546 75074 77219 84259 23606432 12240465 11859717 11365967 399756 720352 7358476 8076233 68066 59564 22588555 24244721 735482 693568 1006599 1076489 2985000 2985000 125316 69452 4852397 4824509 X 8324626 8072090 3838808 5694233 5572724 5653889 17736158 19420212 22588555 24244721 878789 805265 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7176732 86978 1057913 616659 22982 7681982 6601795 213614 702076 320000 20753 7176732 6362349 454492 103156 300000 18202 6601795 6190555 170157 742116 722099 18380 6362349 5620006 261956 607322 298729 6190555 0.09320 0.67850 0.22830 0 0 796298 796298 20603913 10625217 9978696 1436783 1046807 389976 769438 568441 200997 11365967 CASH SURRENDER VALUE OF LIFE INSURANCE 191391 F HATTERAS MULTI-STRATEGY TEI FUND 1200054 F INTEREST IN OIL AND GAS LEASE 146920 F MULTI-STRATEGY BOND FUND 3094684 F MULTI-STRATEGY EQUITY FUND 3443184 F 8076233 X 10194138 805265 300 37398 842963 9351175 22982 1268481 1291463 10642638 8510084 300 37398 37698 8472386 22982 1268481 1291463 9763849 PART V, LINE 4: THE ORGANIZATION USES THE ENDOWMENT FUNDS AS SUPPORT FOR OPERATING EXPENSES THAT ARE NECESSARY TO FULFILL THE ORGANIZATION'S EXEMPT PURPOSE. THE ENDOWMENT FUNDS ARE INVESTED UNDER THE SCHOOL'S INVESTMENT POLICIES TO COMPLY WITH THE STATE OF MARYLAND UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT. THE BOARD APPROPRIATES THE EARNINGS OF THE ENDOWMENT FUNDS FOR EXPENDITURE TO SUPPORT DONOR STIPULATED PURPOSES. PART X, LINE 2: ASC 740, INCOME TAXES (ASC 740), PRESCRIBES THE RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. IT ALSO PROVIDES GUIDANCE ON DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. FOR THOSE BENEFITS TO BE RECOGNIZED, A TAX POSITION MUST BE MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE AMOUNT RECOGNIZED IS MEASURED AS THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN FIFTY PERCENT LIKELY OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE SCHOOL RECOGNIZES INTEREST AND PENALTIES ACCRUED ON ANY UNRECOGNIZED TAX EXPOSURES AS A COMPONENT OF INCOME TAX EXPENSE. THE SCHOOL DOES NOT HAVE ANY AMOUNTS ACCRUED RELATING TO INTEREST AND PENALTIES AS OF JUNE 30, 2014. THE SCHOOL IS SUBJECT TO TAXATION IN VARIOUS JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS. THE SCHOOL REMAINS SUBJECT TO EXAMINATION BY U.S. FEDERAL AUTHORITIES AND VARIOUS STATE AUTHORITIES FOR THE YEARS ENDED JUNE 30, 2011 THROUGH JUNE 30, 2014. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS - DIRECT EXPENSES NETTED WITH REVENUE 20,646. LOSS ON SALE OF FIXED ASSETS 16,752. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID RECORDED AS A REDUCTION OF REVENUE 1,268,481. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS - DIRECT EXPENSES NETTED WITH REVENUE 20,646. LOSS ON SALE OF FIXED ASSETS 16,752. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID RECORDED AS A REDUCTION OF REVENUE 1,268,481. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL'S POLICY IS PUBLISHED ANNUALLY IN THE BALTIMORE SUN. THE POLICY IS ALSO ON THE ORGANIZATION'S WEBSITE AND IN THE STUDENT HANDBOOK. 1 FINANCIAL AID IN THE FORM OF SCHOLARSHIPS AWARDED TO 49 STUDENTS 49 1268481 BOOK FINANCIAL AID PART I, LINE 2: THE STUDENT'S PARENT(S) APPLIES FOR THE FINANCIAL AID BY COMPLETING THE UNIFORM SSS FORM. MANAGEMENT REVIEWS THE SSS FORMS AND AWARDS FINANCIAL AID ON AN AS-NEEDED BASIS. THE AMOUNT OF EACH AWARD IS APPLIED TO THE RESPECTIVE STUDENT'S TUITION BILL. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 PARNELL HAGERMAN HEAD OF SCHOOL 187000 0 0 0 0 0 13090 0 28797 0 228887 0 0 0 PART I, LINE 1A AS A CONDITION OF EMPLOYMENT, PARNELL HAGERMAN, LAURA HURD, AND DEROALD HOPKINS, ARE PROVIDED ON CAMPUS HOUSING FOR THE CONVENIENCE AND BENEFIT OF THE ORGANIZATION. THIS HOUSING IS NOT TAXABLE AND IS INCLUDED IN NONTAXABLE BENEFITS. A MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY 520936091 2010-04-14 2985000 REFINANCE 2000 BONDS 0 0 0 A 2985000 2985000 2002 1 0 1 1 A 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 0 A 0 X 4 40926 FAIR MARKET VALUE X HORSES 3 14500 ESTIMATED VALUE TO S X FITNESS/WORKO 1 5771 ESTIMATED VALUE TO S X PHOTOGRAPHY M 1 5000 ESTIMATED VALUE TO S X VIDEO EQUIPME 1 2950 ESTIMATED VALUE TO S X ATHLETIC UNIF 1 2726 ESTIMATED VALUE TO S X RIDING EQUIPM 1 1500 ESTIMATED VALUE TO S 1 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 THE CHIEF FINANCIAL OFFICER AND THE HEAD OF THE SCHOOL PERFORM THE INITIAL REVIEW. AFTER THEIR APPROVAL, THE FORM 990 IS THEN FORWARDED TO THE FINANCE COMMITTEE CHAIR OF THE BOARD OF TRUSTEES FOR APPROVAL. THE FORM 990 IS ALSO MADE AVAILABLE IN THE BUSINESS MANAGER'S OFFICE FOR REVIEW BY THE FULL BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C IN ACCORDANCE WITH NAIS STANDARDS, ALL TRUSTEES AND KEY EMPLOYEES ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY. THE ADMINISTRATIVE ASSISTANT TO THE HEAD OF THE SCHOOL SENDS ALL TRUSTEES A COPY OF THE CONFLICT OF INTEREST STATEMENT VIA EMAIL TO SIGN AT THE BEGINNING OF EACH FISCAL YEAR. THE STATEMENTS ARE FILED BY THE HEAD'S ADMINISTRATOR AND ARE KEPT ON FILE AND UP TO DATE. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION FOR THE HEAD OF THE SCHOOL IS DETERMINED BY THE BOARD OF TRUSTEES COMPENSATION COMMITTEE. THE COMMITTEE USES AIMS SUMMARY REPORTS OF COMPENSATION AS A GUIDELINE FOR SETTING COMPENSATION. COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS DETERMINED BY REVIEW OF COMPARABLE SALARIES AT PEER SCHOOLS AND MARKET REPORTS. THE HEAD OF SCHOOL REVIEWS AND APPROVES THESE. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES AVAILABLE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS UPON REQUEST. FORM 990, PAGE 12, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.