2011-04-29T06:30:40-05:00 2010-06-30 RSM MCGLADREY INC 9737 WASHINGTONIAN BLVD 400 GAITHERSBURG MD 208787340 990 2009-07-01 540562160 THE POTOMAC SCHOOL POTO 7033564100 PO BOX 430 MCLEAN VA 22101 GEOFFREY JONES 7033564100 2011-04-26 1 Bill Turco 3012963600 2009 2016-02-24 21:20:13Z GEOFFREY JONES PO BOX 430 MCLEAN VA 22101 54530750 0 X WWW.POTOMACSCHOOL.ORG X 1907 DC TO PROVIDE EDUCATIONAL SERVICES FROM KINDERGARTEN THROUGH THE TWELFTH GRADE. 21 21 643 1080 0 0 2163781 3074532 28879278 29988544 185085 474555 732473 544412 31960617 34082043 2704313 2936053 0 17858163 18617453 40116 0 1577889 13400875 13563996 34003467 35117502 -2042850 -1035459 117402335 113337924 54501424 48546321 62900911 64791603 The School's mission is to foster each student's intellectual development, love of learning, and strength of character within an inclusive community distinguished by a spirit of support and challenge. 0 0 27448050 2936053 28439747 PROVIDING EDUCATION FROM KINDERGARTEN TO THE TWELFTH GRADE. 2148496 1548797 SUMMER DAY CAMP AND ACADEMIC REVIEW. 214721 The AERO: SBC (standards-based curriculum) initiative brings teams of teachers and curriculum specialists from participating pilot schools together to review the standards and develop grade-level appropriate curriculum and materials. Participants are trained to serve as trainers to faculty in their own schools and broader project, thus maximizing the impact of each SBC workshop. The Overseas leadership Institute at the Potomac School is about envisioning leadership and networking leaders who will inspire very diverse communities of learners. It is designed to blend the experience of strong school leaders from overseas independent schools with new thinking on leadership as represented in academic research and private sector practice. The Potomac School, led by Geoffrey Jones, brings a partnership with some of the most promising leaders of overseas schools. 29811267 1 1 0 0 0 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 0 0 0 0 1 0 0 0 0 0 0 0 0 1 113 0 1 643 1 0 0 0 0 0 0 0 0 0 21 21 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X DAVID DEJESUS 7037496320 1301 POTOMAC SCHOOL ROAD MCLEAN VA 22101 ELIZABETH S DUFF 1.50 X X 0 0 0 DAVID H LANGSTAFF 1.50 X X 0 0 0 Steven J Quamme 1.50 X X 0 0 0 H Lawrence Culp Jr 1.50 X X 0 0 0 Joseph P Allen 1.50 X 0 0 0 J Keith Ausbrook 1.50 X 0 0 0 Jeffrey A Banks 1.50 X 0 0 0 Jean Case 1.50 X 0 0 0 Enrico C Cecchi 1.50 X 0 0 0 Thomas D Eckert 1.50 X 0 0 0 Gary C Hill 1.50 X 0 0 0 Jeffrey D Nuechterlein 1.50 X 0 0 0 Norma C Ramsey 1.50 X 0 0 0 Susan W Ross 1.50 X 0 0 0 Frank Sesno 1.50 X 0 0 0 LOLA J SINGLETARY 1.50 X 0 0 0 James R Socas 1.50 X 0 0 0 Mari M Will 1.50 X 0 0 0 Jay Winik 1.50 X 0 0 0 C Gregg Petersmeyer 2.00 X 0 0 0 GEOFFREY JONES 40.00 X 274562 0 150392 david dejesus 40.00 X 213398 0 22860 Dabney Schmitt 40.00 X 162435 0 20485 Brendan Sheerin 40.00 X 120934 0 42305 CHarlotte Nelsen 40.00 X 121887 0 26687 Shelia O'Marah 40.00 X 121200 0 57478 Donna Lewis 40.00 X 119102 0 40533 1133518 0 360740 10 0 1 0 COAKLEY & WILLIAMS CONSTRUCTION INC 16 S SUMMIT AVE SUITE 300 GAITHERSBURG MD 20877 general cont. 3547658 Fieldturf USA Inc 8088 MONTVIEW ROAD MONTREAL TMR QUEBEC CA General cont. 574652 SAGE DINING SERVICES INC 222 BOSLEY AVE SUITE B7 TOWSON MD 21204 Food service 550754 SODEXHO INC & AFFILIATES PO BOX 905374 CHARLOTTE NC 28290 Janitorial 315425 COX GRAAE & SPACK ARCHITECTS 2909 M STREET NW WASHINGTON DC 20007 ARCHITECTS 304453 9 114757 2959775 505583 3074532 TUITION 900099 27753280 27753280 SUMMER PROGRAMS 900099 1548797 1548797 TRANSPORTATION 900099 613576 613576 EXTENDED DAY 900099 63671 63671 ENRICHMENT PROGRAM 900099 9220 9220 29988544 502282 502282 20034487 20045064 17150 -10577 -17150 -27727 -27727 313932 114757 109529 204403 204403 373965 276964 97001 97001 OTHER INCOME 900099 243008 243008 243008 34082043 29988544 0 1018967 2936053 2936053 631880 553545 46340 31995 14462799 12663808 1047892 751099 863194 755358 67395 40441 1514659 1339196 108103 67360 1144921 1009018 80943 54960 18244 11679 3731 2834 49200 31496 10061 7643 540187 384772 122915 32500 11824 11824 1575033 1380004 83051 111978 468571 391370 63415 13786 1519819 1196427 265645 57747 135617 127602 8015 85585 62502 18961 4122 2513814 1809946 578179 125689 2839491 2044433 653083 141975 269690 212093 47312 10285 SUMMER PROGRAMS 1299198 1299198 FOOD & entertainment 646520 465494 148700 32326 BAD DEBTS 348551 348551 AERO PROGRAM EXPENSES 244379 244379 other expenses 193329 227515 -28896 -5290 804944 653555 62965 88424 35117502 29811267 3728346 1577889 500 500 5639851 3539842 4448384 2455578 155311 260730 47011 40900 739560 472177 94803293 18278043 58392932 76525250 7748188 13682494 20330163 13773003 19900435 2587450 117402335 113337924 4080702 1482150 9225703 5879809 34743277 34002842 4360576 4241799 2091166 2939721 54501424 48546321 X 56480448 59983264 4414691 2683131 2005772 2125208 62900911 64791603 117402335 113337924 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24133375 142596 3312834 3833342 23755463 34533249 13095 -4996925 5416044 24133375 0.91000 0.09000 0 0 9380656 9380656 76920711 11069300 65851411 8501926 7208743 1293183 76525250 LIMITED PARTNERSHIPS 558085 C MULTI Strategy EQUITY fund 13214918 F 13773003 INTEREST RATE SWAP agreement 2939721 2939721 34082043 35117502 -1035459 2926151 2926151 1890692 34367780 2926151 2926151 31441629 2640414 2640414 34082043 32477088 276964 276964 32200124 2917378 2917378 35117502 Part V, Line 4: Description of Intended Use of Endowment Funds: Endowment funds are used to provide financial aid, purchase library books, frame student artwork, fund community service, faculty salaries and enrichment, science programs, theater and music, pay for financing of new buildings. Part X: Description of Uncertain Tax Positions Under FIN 48: The School adopted the accounting standard on accounting for uncertainty in income taxes (FASB ASC Topic 740-10), 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 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. With few exceptions, the School is no longer subject to income tax examinations by the U.S. federal, state or local tax authorities for years before 2007. Part XII, Line 4b - Other Adjustments: FINANCIAL AID: 2917378. Cost of goods sold- bookstore: -276964. Part XIII, Line 2d - Other Adjustments: Cost of goods sold- bookstore: 276964. Part XIII, Line 4b - Other Adjustments: FINANCIAL AID: 2917378. 1 1 1 AN ANNOUCEMENT IS PRINTED IN THE WASHINGTON POST NEWSPAPER. 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Fall Frolic Carnival 85037 8400 76637 39410 Spring Auction 328616 102030 226586 62603 1 15036 4327 10709 7516 428689 114757 313932 109529 109529 204403 1 Financial aid awards to students 148 2917378 VARIOUS AWARDS TO teachers 8 18675 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: THE POTOMAC SCHOOL UTILIZES THE SERVICES OF THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS TO HELP EVALUATE EACH STUDENT'S NEEDS FOR FINANCIAL ASSISTANCE. EACH APPLICANT COMPLETES A standardized FORM "SCHOOL AND STUDENT SERVICE FOR FINANCIAL AID." THE INFORMATION CONTAINED IN THIS IS PROCESSED IN PRINCETON, NEW JERSEY. AN EVALUATION IS PRODUCED WHICH INCLUDES RECOMMENDATIONS AS TO THE LEVEL OF FINANCIAL ASSISTANCE REQUIRED. THE SCHOOL USES THESE REPORTS AS A GUIDE TO DETERMINE WHICH STUDENTS REQUIRE FINANCIAL ASSISTANCE AND AN ESTIMATE OF THAT NEED. X X X 1 1 X X X X 1 1 0 0 0 0 0 0 0 GEOFFREY JONES 244700 0 0 0 29862 0 74261 0 82393 0 431216 0 0 0 david dejesus 194963 0 0 0 18435 0 16979 0 7495 0 237872 0 0 0 Dabney Schmitt 160178 0 0 0 2257 0 11723 0 9972 0 184130 0 0 0 Brendan Sheerin 60556 0 0 0 60378 0 8028 0 34815 0 163777 0 0 0 Shelia O'Marah 118282 0 0 0 2918 0 9640 0 48554 0 179394 0 0 0 Donna Lewis 117877 0 0 0 1225 0 9333 0 32132 0 160567 0 0 0 Part I, Line 1a THE SCHOOL COMPENSATES THE HEADMASTER AND VARIOUS DEPARTMENT HEADS. THE SCHOOL PROVIDES THE HEADMASTER AND VARIOUS DEPARTMENT HEADS WITH HOUSING. THE RENTAL VALUE REFLECTS THE FAIR MARKET VALUE FOR COMPARABLE HOUSES IN THE AREA. THE TRANSACTIONS WERE APPROVED BY THE BOARD OF TRUSTEES WITH ADEQUATE DOCUMENTATION. Part I, Line 4a Brendan Sheerin, severance payment, $60,066 geoffrey jones, supplemental nonqualified retirement plan, $54,661 Fairfax County Economic Development Authority 540787833 2004-07-12 16430000 Redemption of Prior Bonds and School Construction 0 0 Fairfax County Economic Development Authority 540787833 2005-08-04 20570000 Construction of new upper school building 0 0 16430000 5645549 2004 1 0 0 1 20570000 20570000 2006 0 0 0 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 1 0.00000 0.00000 0.00000 1 0 0 0 0 0 1 0 1 1 PNC BANK 29.600000000000 0 0 1 X 8 505583 confirmation from broker 0 1 1 Third Party Use: Part I, Line 32b: the organization sells marketable securities through a broker. Form 990, Part VI, Section A, line 2 JEAN CASE, TRUSTEE AND TOM ECKERT, TRUSTEE - BUSINESS RELATIONSHIP Form 990, Part VI, Section B, line 11 The 990 is reviewed and approved by the Audit Committee. After that iT goes to the full Board for review and approval. Form 990, Part VI, Section B, line 12c FOR KEY EMPLOYEES: Where a potential conflict of interest exists, it shall be the responsibility of the person involved or any other person with knowledge to notify the HEAD OF SCHOOL of the circumstances resulting in the potential conflict so that IT CAN BE COMMUNICATED TO the Board of Trustees WHO can, IN COUNSEL WITH THE HEAD OF SCHOOL, THEN provide such guidance and take such action as THEY shall deem appropriate. This statement shall be signed annually by all KEY EMPLOYEES. FOR BOARD OF TRUSTEES: Where a potential conflict of interest exists, it shall be the responsibility of the person involved or any other person with knowledge to notify the Chair and Vice Chair of the Board of Trustees as well as the Chair of the Governance Committee of the circumstances resulting in the potential conflict so that the Board of Trustees can provide such guidance and take such action as it shall deem appropriate. This statement shall be signed annually by all Trustees. Form 990, Part VI, Section B, line 15 The Compensation Committee reviews and discusses the total compensation packages of the Head of School and school administrators. Salary information only for similar positions from comparable schools are used to establish a reasonable compensation. The Committee has the authority to approve the compensation package of the Head of School and school administrators on an annual basis. Form 990, Part VI, Section C, line 19 A public inspection file is maintained onsite that includes the 990, governing documents, conflict of interest policy, and financial statements.