2012-12-17T15:32:03-06:00 2012-06-30 420714325 MCGLADREY LLP 100 INTERNATIONAL DRIVE SUITE 1400 BALTIMORE MD 21202 990 2011-07-01 520735085 THE BOYS' LATIN SCHOOL OF MARYLANDINC BOYS 4103775192 822 W LAKE AVENUE BALTIMORE MD 21210 PATRICIA A FALLON 4103775192 2012-11-09 JULIA FLANNERY CPA P00928918 4102469300 2011 2016-02-24 21:20:13Z CHRISTOPHER J POST 822 W LAKE AVENUE BALTIMORE MD 21210 20069621 0 X WWW.BOYSLATINMD.COM X 1960 MD THE BOYS' LATIN SCHOOL OF MARYLAND IS A COLLEGE PREP SCHOOL FOR BOYS, GRADES K - 12. 27 27 184 200 0 0 2134643 1877434 12551897 13300516 1523765 1217524 -17528 139474 16192777 16534948 1607692 2161770 0 0 9438880 9809389 0 0 712347 4801826 4974949 15848398 16946108 344379 -411160 73722936 71351947 21773849 22862848 51949087 48489099 X BOYS' LATIN IS THE OLDEST INDEPENDENT, NONSECTARIAN COLLEGE PREPARATORY SCHOOL FOR BOYS IN MARYLAND. THE SCHOOL OFFERS A RIGOROUS ACADEMIC PROGRAM THAT PREPARES YOUNG MEN FOR THE CHALLENGES OF THE 21ST CENTURY. THE SCHOOL'S MOTTO, ESSE QUAM VIDERI- "TO BE, RATHER THAN TO SEEM," EMPHASIZES THE DEVELOPMENT OF ONE'S INTEGRITY, COURAGE, AND COMPASSION FOR OTHERS AND HAS BEEN THE CORE VALUE OF A BOYS' LATIN EDUCATION SINCE 1844. BOYS' LATIN WELCOMES YOUNG MEN FROM DIVERSE BACKGROUNDS AND EDUCATES THEM IN A SUPPORTIVE STUDENT-CENTERED ENVIRONMENT. A LOW STUDENT-TEACHER RATIO FOSTERS POSITIVE RELATIONSHIPS, THEREBY CHALLENGING EACH STUDENT TO REACH HIS MAXIMUM POTENTIAL WHILE EMPOWERING HIM TO MATURE WITH AN INCREASING SENSE OF SELF-WORTH AND AN AWARENESS OF HIS RESPONSIBILITIES TOWARD HIMSELF AND HIS COMMUNITY. 0 0 14885218 2161770 13300516 PRIMARY AND SECONDARY EDUCATION SERVING 594 STUDENTS. 14885218 1 1 0 0 0 0 0 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 1 0 0 0 0 0 0 0 0 0 1 57 0 1 184 1 0 0 0 0 0 0 0 0 0 0 X 27 27 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X PATRICIA FALLON DIR OF FINANCE 4103775192 822 W LAKE AVENUE BALTIMORE MD 21210 BRANDON F GAINES 2.00 X X 0 0 0 WALKER S MYGATT 2.00 X X 0 0 0 THOMAS P MULROY 2.00 X X 0 0 0 GREGORY S HORNING 2.00 X X 0 0 0 JONATHAN P MURRAY 2.00 X X 0 0 0 GEORGETTE D KISER 2.00 X X 0 0 0 MICHAEL C GITLIN 2.00 X X 0 0 0 JAMES C ALBAN IV 2.00 X 0 0 0 CHARLES F BLACK SR 2.00 X 0 0 0 GEOFFREY H BRENT 2.00 X 0 0 0 JAMES R BROOKS 2.00 X 0 0 0 THOMAS M GAINES 2.00 X 0 0 0 LESLIE E GOLDSBOROUGH JR 2.00 X 0 0 0 CAROL GOODMAN 2.00 X 0 0 0 G TODD GUNTNER 2.00 X 0 0 0 HENRY H HOPKINS 2.00 X 0 0 0 FRANK S JONES JR 2.00 X 0 0 0 SARA MARTIN 2.00 X 0 0 0 GUY J MATRICCIANI JR 2.00 X 0 0 0 JAMES E MCDONNELL II 2.00 X 0 0 0 BRUCE D MCLEAN 2.00 X 0 0 0 RACHEL MYGATT 2.00 X 0 0 0 ROBERT B NAENY JR 2.00 X 0 0 0 JOAN PYNE 2.00 X 0 0 0 STEVEN E SIMMS 2.00 X 0 0 0 J DUNCAN SMITH 2.00 X 0 0 0 DAVID O WATTS 2.00 X 0 0 0 CHRISTOPHER J POST 40.00 X 252568 0 112176 PATRICIA FALLON 40.00 X 129199 0 11398 DYSON EHRHARDT 40.00 X 164036 0 24659 JOHN SIEVERTS 40.00 X 114841 0 23279 ANNE KELLERMAN 40.00 X 102092 0 7148 762736 0 178660 5 0 1 0 HENRY H LEWIS CONTRACTORS LLC PO BOX 86 OWINGS MILLS MD 21117 CONTRACTOR 388596 UNITED BUILDING SERVICES INC 200 LITTLE FALLS STREET SUITE 400 FALLS CHURCH VA 22046 CLEANING SERVICES 156370 GUIDO PICCININI & SONS PO BOX 46 STEVENSON MD 21153 LANDSCAPING AND GROUNDS MAINTENANCE 114874 DATA NETWORKS INC PO BOX 62009 BALTIMORE MD 21264 TECHNOLOGY/IT SERVICES 111099 4 1877434 630343 1877434 TUITION & FEES 611600 13240256 13240256 DEPOSITS & MISC. 611600 29156 29156 MEMBERSHIP DUES 611600 25650 25650 YEARBOOK AND INKWELL 611600 5454 5454 13300516 539051 539051 18707 0 18707 18707 18707 3956138 3277665 678473 678473 678473 124144 66979 57165 57165 2630 0 2630 2630 208709 190029 18680 18680 RECOVERY OF BAD DEBT 900099 24837 24837 TEACHER/STAFF APPRECIA 900099 17455 17455 42292 16534948 13300516 0 1356998 2161770 2161770 455341 381775 46909 26657 7227913 5969676 808696 449541 409016 348129 31580 29307 1180437 1088491 58775 33171 536682 458297 48687 29698 20895 20895 36024 36024 547932 512800 26037 9095 99983 99983 494428 392795 60638 40995 143481 141981 1500 568685 541693 20823 6169 131953 122193 893 8867 158344 97329 11798 49217 727332 727332 1481495 1396309 55556 29630 ACTIVITIES 329593 281920 47673 MISCELLANEOUS 129588 57529 72059 ALUMNI/PARENT ASSOCIATI 86249 86249 TEACHER/STAFF APPRECIAT 18967 18967 16946108 14885218 1348543 712347 500 500 3814436 2632472 1675460 809915 90218 89100 55001 48805 400108 266770 48185224 12432766 36526891 35752458 31132871 31735858 27451 16069 73722936 71351947 1174411 1023261 1276643 1593347 18010437 17617104 1312358 2629136 21773849 22862848 X 38288341 34937603 3847836 3069495 9812910 10482001 51949087 48489099 73722936 71351947 X -411160 -3048828 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 31393529 1959406 -522353 821452 32009130 25532665 1485642 5109628 734406 31393529 22821478 714823 2729863 733499 25532665 30294284 591265 -8061391 2680 22821478 0.61350 0.30870 0.07780 0 0 1023004 1023004 39057709 8530859 30526850 4028535 939734 3088801 1769775 1274624 495151 2306201 1687549 618652 35752458 INTEREST RATE SWAP 2629136 2629136 16534948 16946108 -411160 -1734366 -1314462 -3048828 -3459988 11832861 -1734366 -1734366 13567227 2967721 2967721 16534948 15292849 1291941 1291941 14000908 2945200 2945200 16946108 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE LONG-TERM GOAL OF THE ENDOWMENT FUNDS IS TO ACHIEVE APPRECIATION OF ASSETS WITHOUT EXPOSURE TO UNDUE RISK. THE PORTFOLIO IS EXPECTED TO SUPPORT DESIRED SPENDING, PROVIDE ADDITIONAL GROWTH TO COVER OPERATING EXPENSES AND PRESERVE THE PURCHASING POWER OF THE ENDOWMENT ASSETS OVER TIME. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SCHOOL HAS ADOPTED THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES 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 POLICY, THE SCHOOL MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WOULD BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. MANAGEMENT HAS EVALUATED THE SCHOOL'S TAX POSITIONS AND HAS CONCLUDED THAT THE SCHOOL HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THIS GUIDANCE. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE JUNE 30, 2009. PART XI, LINE 8 - OTHER ADJUSTMENTS: PARENTS & ALUMNAE ASSOCS ACTIVITY ON THIS RETURN ON A CONSOLIDATED BASIS 2,316. LOSS ON INTEREST RATE SWAP -1,316,778. TOTAL TO SCHEDULE D, PART XI, LINE 8: -1,314,462. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED NET ON THE FINANCIAL STATEMENT 2,839,984. RECOVERY OF BAD DEBTS 24,837. INCOME FROM PARENTS' ASSOCIATION 55,262. INCOME FROM ALUMNI ASSOCIATION 97,162. INCOME FROM TEACHERS APPRECIATION FUND 17,455. FUNDRAISING EXPENSES NETTED WITH REVENUE -66,979. PART XIII, LINE 2D - OTHER ADJUSTMENTS: INTEREST RATE SWAP 1,316,778. RECOVERY OF BAD DEBTS -24,837. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED NET ON THE FINANCIAL STATEMENT 2,839,984. EXPENSES FROM ALUMNI ASSOCIATION 52,650. EXPENSES FROM PARENTS' ASSOCIATION 33,599. EXPENSES FROM TEACHERS APPRECIATION FUND 18,967. 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 THE NONDISCRIMINATORY POLICY MAY BE FOUND AND/OR OBTAINED ON ALL SCHOOL AND ADMISSIONS BROCHURES INCLUDING THE SCHOOL'S WEBSITE. BULL ROAST - ALUMNI ASSOCIATION 83543 83543 45703 GOLF OUTING - ALUMNI ASSOCIATION 20775 20775 12725 1 14995 14995 6551 119313 119313 64979 64979 54334 1 STUDENTS RECEIVING FINANCIAL AID 206 2141820 FACULTY AWARDS 17 19950 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANT FUNDS ARE ONLY USED FOR TUITION AND ARE APPLIED TO THE STUDENTS' ACCOUNTS DURING THE FISCAL YEAR THE GRANT IS AWARDED. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 CHRISTOPHER J POST 229018 0 23370 0 180 0 15611 0 96565 0 364744 0 0 0 DYSON EHRHARDT 162800 0 0 0 1236 0 11615 0 13044 0 188695 0 0 0 PART I, LINE 1A THE HEADMASTER AND THE ASSOCIATE HEADMASTER OF DEVELOPMENT RECEIVE SOCIAL CLUB DUES. THE DUES ARE INCLUDED IN TAXABLE COMPENSATION. THE HEADMASTER RECIEVES A HOUSING BENEFIT. THE VALUE IS NOT INCLUDED IN HIS TAXABLE COMPENSATION BUT IS INCLUDED IN SCHEDULE J, PART II, COLUMN D. MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY 520536091 2009-08-26 19839000 CONSTRUCTION OF MIDDLE SCHOOL FACILITY 0 1 0 2212896 19830000 175000 19655000 2010 1 0 1 1 0 1 0 0 0.00800 0.00800 1 0 1 1 SUNTRUST BANK 30.000000000000 0 0 0 0 0 X SCHEDULE K SUPPLENTAL INFORMATION AMOUNTS LISTED ON LINE 11 WERE USED TO REFUND PRIOR ISSUED DEBT. SCHEDULE K, PART III, LINE 4 THE PERCENTAGE OF PRIVATE BUSINESS USE IS LESS THAN 1%. DYSON EHRHARDT KEY EMPLOYEE 1000 SERVICE RECOGNITION AWARD X 6 630343 FAIR MARKET VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 RACHEL MYGATT AND WALKER MYGATT HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 INFORMATION WAS PREPARED IN THE FINANCE OFFICE AND REVIEWED BY THE DIRECTOR OF FINANCE. THE FORM 990 WAS PRESENTED TO THE FINANCE COMMITTEE FOR THEIR REVIEW. A COPY WAS PROVIDED TO THE GOVERNING BODY BEFORE IT WAS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, ALL BOARD MEMBERS ARE GIVEN THE CONFLICT OF INTEREST POLICY, ARE REQUIRED TO SIGN AN ACKNOWLEDGEMENT OF RECEIPT OF THE POLICY, AND AGREE TO COMPLY WITH THE POLICY. THEY HAVE A DUTY TO DISCLOSE ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST. IF A CONFLICT ARISES, THE BOARD MEMBER WILL LEAVE THE MEETING WHEN THE TOPIC IS BEING DISCUSSED AND VOTED UPON. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES REVIEWS, DOCUMENTS AND DECIDES ON THE COMPENSATION FOR THE HEADMASTER. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES HAS DELEGATED THE REVIEW OF OTHER KEY EMPLOYEES TO THE HEADMASTER. THE HEADMASTER CONSULTS WITH THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FOR ANY CHANGES TO COMPENSATION FOR KEY EMPLOYEES. OUTSIDE COMPENSATION SURVEYS ARE USED FOR ALL HEADMASTER AND KEY EMPLOYEE COMPENSATION REVIEWS. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST TO THE PUBLIC IN THE FINANCE OFFICE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -1,734,366. PARENTS & ALUMNAE ASSOCS ACTIVITY ON THIS RETURN ON A CONSOLIDATED BASIS 2,316. LOSS ON INTEREST RATE SWAP -1,316,778. TOTAL TO FORM 990, PART XI, LINE 5: -3,048,828.