2012-05-07T12:50:01-05:00 2011-06-30 SB & Company LLC 200 International Circle Suite 5500 Hunt Valley MD 21030 990 2010-07-01 521072250 Baltimore Educational Scholarship Trust BALT 4107522225 808 North Charles Street Baltimore MD 21201 Amy John 4107522225 2012-05-07 1 James E Marshall Jr 4105840060 2012-05-07 2010 2016-02-24 21:20:13Z Amy John 808 North Charles Street Baltimore MD 21201 1341046 0 X www.besttrust.org X 1987 MD The Baltimore Educational Scholarship Trust, in partnership with our twenty independent member schools, recruits and supports throughout the admissions process academically talented, African-American students with financial need from the Baltimore metropolitan area. 44 43 14 15 0 0 521026 800607 381209 408072 140504 132367 0 0 1042739 1341046 768106 694458 0 0 413448 487759 0 0 101872 345191 223738 1526745 1405955 -484006 -64909 7548499 8910444 306198 301906 7242301 8608538 The Baltimore Educational Scholarship Trust, in partnership with our twenty independent member schools, recruits and supports throughout the admissions process academically talented, African-American students with financial need from the Baltimore metropolitan area. 0 0 1145991 694458 408072 The Baltimore Educational Scholarship Trust (B.E.S.T) encourages, supports and increases educational opportunities for talented, economically disadvantaged African-American students from the Baltimore metropolitan area. Once students are enrolled,B.E.S.T. positions them for success through academic preparation, leadership development, and support programs. 1145991 1 1 0 0 0 0 0 0 1 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8 0 14 1 0 0 0 0 0 0 0 0 X 44 43 1 0 0 0 0 0 0 1 1 1 0 1 1 1 1 1 1 1 1 0 MD X Jill Wood 4107522225 808 North Charles Street Baltimore MD 21201 Stuart O Simms 4.00 X X 0 0 0 W Boulton Dixon 4.00 X X 0 0 0 Lawrence Snyder 4.00 X X 0 0 0 Eric S Adler 1.00 X 0 0 0 Teri Alexander 1.00 X 0 0 0 Chris Berrier 1.00 X 0 0 0 James Piper Bond 1.00 X 0 0 0 Andrew M Brooks 1.00 X 0 0 0 Kimberly H Cashman 1.00 X 0 0 0 Christy M DiPietro 1.00 X 0 0 0 Michael C Ford 1.00 X 0 0 0 Penney C Hubbard 1.00 X 0 0 0 David Hunter 1.00 X 0 0 0 Charles E Knudsen III 1.00 X 0 0 0 Crystal A Lee 1.00 X 3000 0 0 Janeen McLean 1.00 X 0 0 0 Lee S Owen 1.00 X 0 0 0 Michael A Ray 1.00 X 0 0 0 Vernon A Reid Jr 1.00 X 0 0 0 Annie Staley 1.00 X 0 0 0 Thomas E Wilcox 1.00 X 0 0 0 Christopher J Post 1.00 X 0 0 0 Maureen E Walsh 1.00 X 0 0 0 Andrew D Martire 1.00 X 0 0 0 Jay Scheurle 1.00 X 0 0 0 Matthew W Micciche 1.00 X 0 0 0 G Peter O'Neill Jr 1.00 X 0 0 0 John E Schmick 1.00 X 0 0 0 Ben Shifrin 1.00 X 0 0 0 Marcella Yedid 1.00 X 0 0 0 Shawn Marie Maguire 1.00 X 0 0 0 Charles W Britton 1.00 X 0 0 0 Martha H Sweeney 1.00 X 0 0 0 Taylor Smith 1.00 X 0 0 0 Dan Paradis 1.00 X 0 0 0 Jean W Brune 1.00 X 0 0 0 Thomas J Reid 1.00 X 0 0 0 Monica M Gillespie 1.00 X 0 0 0 Randy S Stevens 1.00 X 0 0 0 Douglas Lagarde 1.00 X 0 0 0 Redmond CS Finney 0.00 X 0 0 0 F Barton Harvey III 0.00 X 0 0 0 Molly M Hathaway 0.00 X 0 0 0 Stanley I Panitz 0.00 X 0 0 0 Thomas P Perkins III 0.00 X 0 0 0 Theo C Rodgers 1.00 X 0 0 0 Grant L Jacks III 0.00 X 0 0 0 Lisa Y Settles Esq 1.00 X 0 0 0 Donna Hill Staton Esq 1.00 X 0 0 0 Michael J Weinfeld 1.00 X 0 0 0 Amy John 40.00 X 93769 0 5700 Jill E Wood 40.00 X 59268 0 8330 Toni N Stokes 40.00 X 56483 0 8450 Jessica Suriano 40.00 X 38923 0 120 251443 0 22600 0 0 0 0 0 800607 800607 School membership fees 900099 373493 373493 Application fees and o 900099 34579 34579 408072 132367 132367 1341046 408072 0 132367 694458 694458 329768 206350 77729 45689 75669 47349 17836 10484 18052 11295 4255 2502 23122 14467 5450 3205 41148 25746 9699 5703 195 131 35 29 12550 8408 2259 1883 10435 6992 1878 1565 42622 24711 6715 11196 15157 10155 2728 2274 54976 38483 10995 5498 15399 9239 4620 1540 10290 10290 4705 2823 1412 470 Student expenses 38968 38968 Cultivation and steward 8036 8036 Miscellaneous 7946 4900 1673 1373 Dues & subscriptions 2459 1516 518 425 1405955 1145991 158092 101872 115556 166232 846470 431050 8374 128634 6448 10039 77609 61135 25409 16474 6546242 8158015 7548499 8910444 16107 3112 290091 298794 306198 301906 X -584952 -571212 2362706 3715203 5464547 5464547 7242301 8608538 7548499 8910444 X -64909 1431146 X X 0 1 1 X 0 X 1092880 699475 611079 521026 800607 3725067 1092880 699475 611079 521026 800607 3725067 3725067 230453 237621 192821 140504 132367 933766 4658833 2024690 0.79960 0.78550 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7766840 1562237 399503 8929574 7488957 784730 369030 137817 7766840 8955398 5000 -1081983 389458 7488957 0.61200 0.38800 0 0 77609 61135 16474 16474 Mutual Funds 8158015 F 8158015 Distributions payable to member schools 298794 298794 1341046 1405955 -64909 1431146 1431146 1366237 2772192 1431146 1431146 1341046 0 1341046 1405955 0 1405955 0 1405955 1 The Boys' Latin School of Maryland 822 W Lake Avenue Baltimore MD 21210 520735085 501(c)(3) 42572 Tuition for the School's Endowed Scholar,an Annual Fund gift, 2 Emergency Grants and School Head Discretionary Gift. Calvert School Inc 105 Tuscany Road Baltimore MD 21210 520591510 501(c)(3) 33262 Tuition for the School's Endowed Scholar, an Annual Fund gift, and 1 Emergency and SHD Gift. Chesapeake Academy 1185 Baltimore Annapolis Blvd Arnold MD 210121808 521190025 501(c)(3) 25976 Tuition for the School's Endowed Scholar, an Annual Fund gift, 1 Emergency Gift and SHD Gift. Friends School of Baltimore Inc 5114 North Charles Street Baltimore MD 21210 520591602 501(c)(3) 43653 Tuition for Endowed Scholar, Annual Fund Gift, 1 Gap, 1 Emergency, SHD Gift. Garrison Forest School Inc 300 Garrison Forest Road Owings Mills MD 21117 520591516 501(c)(3) 38697 Tuition for the School's Endowed Scholar, an Annual Fund gift,2 Emergency and SHD Gift Gilman School Inc 5407 Roland Avenue Baltimore MD 21210 520591604 501(c)(3) 36042 Tuition for the School's Chick Lord Endowed Scholar, an Annual Fund gift and SHD Gift The Jemicy School Inc 11 Celadon Road Owings Mills MD 21117 520976194 501(c)(3) 35507 Tuition for the School's Endowed Scholar, an Annual Fund gift and SHD Gift Key School Inc 543 Hillsmere Drive Annapolis MD 21403 520701774 501(c)(3) 32464 Tuition for the School's Endowed Scholar, an Annual Fund gift and SHD gift. Maryvale Preparatory School 11300 Falls Road Brooklandville MD 21022 521160935 501(c)(3) 24731 Annual Fund gift, 1 Emergency, 3 Gap Grants and SHD Gift. McDonogh School PO Box 380 Owings Mills MD 211170380 526001577 501(c)(3) 37383 Tuition for the School's Endowed Scholar, an Annual Fund gift and SHD gift. Oldfields School Inc 1500 Glencoe Road Glencoe MD 21152 520591645 501(c)(3) 44936 Tuition for the School's Endowed Scholar, an Annual Fund gift and SHD gift. Roland Park Country School Inc 5204 Roland Avenue Baltimore MD 21210 520591631 501(c)(3) 43523 Tuition for the School's Endowed Scholar, 1 Gap Fund Grants, an Annual Fund gift, SHD Gift and 1 Emergency. Severn School Inc 201 Water Street Severna Park MD 211464599 520591466 501(c)(3) 14862 Tuition for an Annual Fund gift and SHD gift. St Paul's School 11152 Falls Road Brooklandville MD 21022 520591463 501(c)(3) 39859 Tuition for the School's Endowed Scholar, 2 Emergency grants, Annual Fund Gift and SHD Gift. St Paul's School for Girls Inc 11232 Falls Road Brooklandville MD 21022 520709497 501(c)(3) 67094 Tuition for Endowed Scholar gift, 1 Gap Fund, the School's 1 Special Case-Special Grant, 1 Emergency Funding Grants, an Annual Fund gift, and SHD gift. The Finance Committee approved a special grant to 1 particular student. Corporation of St Timothy's School 8400 Greenspring Ave Stevenson MD 21153 520591488 501(c)(3) 12811 Tuition for an Annual Fund gift and SHD gift. The Byrn Mawr School for Girls of Baltimore City 109 W Melrose Ave Baltimore MD 21210 520258140 501(c)(3) 30481 Tuition for an Annual Fund gift, SHD Gift, 1 Gap, 2 Emergency. The Odyssey School 3257 Bridle Ridge Lane Stevenson MD 21153 521870341 501(c)(3) 12476 Tuition for an Annual Fund gift. The Park School of Baltimore PO Box 8200 Brooklandville MD 21022 520591625 501(c)(3) 35588 Tuition for the School's Endowed Scholar, SHD Gift and Annual Fund Gift. The Waldorf School of Baltimore Inc 4801 Tamarind Road Baltimore MD 21209 237305478 501(c)(3) 33838 Tuition for the School's Endowed Scholar, 1 Gap grant, Annual Fund gift, SHD Gift and 2 Emergency Gifts. 20 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: When B.E.S.T provides grants for Endowed Scholars, Gap Funding, Emergency Funding, Annual Fund gifts and School Head Discretionary Fund they send a check and a letter to each of the schools. The letter states the intended use of the money being sent to the school. The Endowed Scholar grant letters will state the amount of the grant and the fact that the funds are to be used to pay 75% of tuition for the Endowed Scholar chosen by the school. B.E.S.T will have recieved the name of the Endowed Scholar from the school previously, so the student's name is included in the grant letter. The Annual Fund gift letters only state the amount of the grant awarded to each school and that it is to be directed toward the school's financial aid budget. The School Head Discretionary Fund Gifts is a restricted gift to be used as a School Head's fund to support B.E.S.T. students on each school's campus. Each year the school must submit a detailed report to B.E.S.T. on how the funds were used. Gap and Emergency Gifts state the amount and the student's name for who the gift is intended for. Copies of the checks and the grant letters sent to the school are maintained in files in B.E.S.T.'s finance department. Form 990, Part VI, Section A, line 2 Penny Hubbard is the mother of Kimberly Cashman. They are both board members. Charles Knudsen, a trustee, is the husband of Ellen Knudsen, a part time staff member at B.E.S.T. Form 990, Part VI, Section B, line 11 A copy of the Form 990 is distributed to the finance and audit committee where they review the document. Once the draft is reviewed, edited and approved, the Form 990 is considered complete and the Executive Director signs the final version. Form 990, Part VI, Section B, line 12c All trustees and key employees are required each year to sign the conflict of interest policy. The returned forms are stored at B.E.S.T. in the Trustee's individual files in the executive office. The conflict of interest for the key employees are stored in the personnel files of the individuals. If a conflict exists, the Executive Director would review with the Board President. Form 990, Part VI, Section B, line 15 Research of salaries for similar positions is reviewed and compared. The Board President and Executive Committee reviewed the salary of the Executive Director. The Board President and Executive Director reviewed the salary for the Admissions Director , The Assistant Director of Admissions, Manager of Finance and Operations and the Director of Development. The process occurred last during the spring of 2010. Form 990, Part VI, Section C, line 19 The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Contact Addresses for Officers, Directors, Etc Form 990, Part VII Stuart O. Simms - 120 E. Baltimore Street, Suite 1700, Baltimore, MD 21202. W. Boulton Dixon - 509 Whithorn Court, Lutherville, MD 21093. Lawrence Snyder - 4801 Tamarind Road, Baltimore, MD 21209. Eric S. Adler - 1776 Massachusetts Avenue, NW, Suite 600, Washington, DC 20036. Teri Alexander - 216 Ridgewood Road, Baltimore, MD 21210. Chris Berrier - 240 Hopkins Lane, Owings Mills, MD 21117. James Piper Bond - 802 South Caroline Street, Baltimore, MD 21231. Andrew M. Brooks - 919 Bellemore Road, Baltimore, MD 21210. Kimberly H. Cashman - 1406 Walnut Hill Lane, Towson, MD 21204. Christy M. DiPietro - 10 Chittenden Lane, Owings Mills, MD 21117. Michael C. Ford - 20 Buchanan Road, Baltimore, MD 21212. Penney C. Hubbard - 1408 Walnut Hill Lane, Towson, MD 21204. David Hunter - 901 South Bond Street, Suite 400, Baltimore, MD 21231. Charles E. Knudsen, III - 100 E. Pratt Street, Baltimore, MD 21202. Crystal A. Lee - 300 Garrison Forest Road, Owings Mills, MD 21117. Janeen McLean - 8722 Loch Raven Boulevard, Towson, MD 21286-2235. Lee S. Owen - 901 South Bond Street, Suite 400, Baltimore, MD 21231. Michael A. Ray - 100 International Drive, 17th Floor, Baltimore, MD 21202. Vernon A. Reid, Jr. - 100 E. Pratt Street, 7th Floor, Baltimore, MD 21202. Annie Staley - 22 Buchanan Road, Baltimore, MD 21212. Thomas E. Wilcox - 2 East Read Street, 9th Floor, Baltimore, MD 21202. Christopher J. Post - 822 West Lake Avenue, Baltimore, MD 21210. Maureen E. Walsh - 109 West Melrose Avenue, Baltimore, MD 21210. Andrew D. Martire - 105 Tuscany Road, Baltimore, MD 21210. Jay Scheurle - 1185 Baltimore Annapolis Blvd., Arnold, MD 21012. Matthew W. Micciche - 5114 N. Charles Street, Baltimore, MD 21210. G. Peter O'Neill, Jr. - 300 Garrison Forest Road, OWings Mills, MD 21117. John E. Schmick - 5407 Roland Avenue, Baltimore, MD 21210. Ben Shifrin - 11 Celadon Road, Owings Mills, MD 21117. Marcella Yedid - 534 Hillsmere Drive, Annapolis, MD 21403. Shawn Marie Maguire - 11300 Falls Road, Brooklandville, MD 21022. Charles W. Britton - P.O. Box 380, Owings Mills, MD 21117. Martha H. Sweeney - 529 Overbrook Road, Baltimore, MD 21212. Taylor Smith - 1500 Glencoe Road, Glencoe, MD 21152. Dan Paradis - 2425 Old Court Road, Brooklandville, MD 21022. Jean W. Brune - 5204 Roland Avenue, Baltimore, MD 21210. Thomas J. Reid - 11152 Falls Road, Brooklandville, MD 21022. Monica M. Gillespie - 11232 Falls Road, Brooklandville, MD 21022. Randy S. Stevens - 8400 Greenspring Avenue, Stevenson, MD 21153. Douglas Lagarde - 201 Water Street, Severna Park, MD 21146. Redmond C.S. Finney - 15601 Dover Road, Upperco, MD 21155. F. Barton Harvey, III - 10227 Wincopin Circle, Columbia, MD 21044. Molly M. Hathaway - 6525 Montrose Avenue, Baltimore, MD 21212. Stanley I. Panitz - 108 St. John's Road, Baltimore, MD 21210. Thomas P. Perkins, III - 1040 Park Avenue, Suite 300, Baltimore, MD 21201. Theo C. Rodgers - 1040 Park Avenue, Suite 300, Baltimore, MD 21201. Grant L. Jacks, III - Wooster School, 91 Miry Brook Rd, Danbury, CT 01810. Lisa Y. Settles, Esq - Hodes, Pessin, & Katz, P.A,901 Dulaney Valley Rd., S Towson, MD 21204. Donna Hill Staton, Esq - 13827 Lakeside Drive, Clarksville, MD 20129. Michael J. Weinfeld - P.O. Box 251, Brooklandville, MD 21022. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized gains on investments: 1,431,146. Form 990, Part XII, Line 2c: The process has not changed from prior year.