2026-05-13T14:32:39-05:00 2025-06-30 420714325 RSM US LLP 9801 WASHINGTONIAN BLVD STE 500 GAITHERSBURG MD 20878 990 2024-07-01 520591516 GARRISON FOREST SCHOOL INC GARR 4103631500 300 GARRISON FOREST SCHOOL OWINGS MILLS MD 21117 STACY MOHN CHIEF FINANCIAL OFFICER 4103631500 2026-05-13 1 1 JULIA FLANNERY P00928918 3012963600 2026-05-13 2024 2025-03-06 01:10:19Z STACY MOHN 300 GARRISON FOREST SCHOOL OWINGS MILLS MD 21117 38748040 0 X WWW.GFS.ORG X 1939 MD AT GARRISON FOREST SCHOOL, WE PREPARE OUR STUDENTS IN AND OUT OF THE CLASSROOM TO THRIVE IN A COMPLEX AND CHANGING WORLD. 27 26 270 150 406294 0 5208858 3560369 23096761 23089099 1697456 1704050 249346 366215 30252421 28719733 6566383 6198733 0 0 15201189 16538660 0 0 1141970 9787847 10770622 31555419 33508015 -1302998 -4788282 112899807 110739962 22158669 21011048 90741138 89728914 X AT GARRISON FOREST SCHOOL, WE PREPARE OUR STUDENTS IN AND OUT OF THE CLASSROOM TO THRIVE IN A COMPLEX, CHANGING WORLD BY: CHALLENGING THEM TO STRIVE FOR ACADEMIC EXCELLENCE AND TO GROW INTO INFORMED, INDEPENDENT, AND CREATIVE THINKERS; CULTIVATING AN AUTHENTIC AND RESILIENT SENSE OF SELF, GROUNDED IN RESPECT AND INTEGRITY; CREATING A DIVERSE AND INCLUSIVE COMMUNITY BUILT ON A SPIRIT OF CARING; INSPIRING YOUNG WOMEN TO LEAD AND TO SERVE WITH PASSION, PURPOSE, AND JOY. 0 0 20010642 6198733 19626717 EDUCATIONAL AND GENERAL: INCLUDES INSTRUCTION, STUDENT SUPPORT SERVICES AND PLANT MAINTENANCE TO SERVE 527 STUDENTS AT THE SCHOOL. 6717336 2901143 AUXILIARY ENTERPRISES: INCLUDES STUDENT ACTIVITIES, SUMMER ACTIVITIES AND STABLES. ACTIVITIES ARE AVAILABLE TO ALL STUDENTS. SOME ACTIVITIES ARE AVAILABLE TO THE GENERAL PUBLIC. 26727978 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 0 1 0 1 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 1 107 0 1 270 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 27 26 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 MD X STACY MOHN 4103631500 300 GARRISON FOREST SCHOOL OWINGS MILLS MD 21117 GEORGE J SAKELLARIS PRESIDENT 2.00 X X 0 0 0 CATHERINE SCHROEDER O'NEILL VICE PRESIDENT 2.00 X X 0 0 0 AUGUST J CHIASERA TREASURER 2.00 X X 0 0 0 EMILY GARDNER BARATTA SECRETARY 2.00 X X 0 0 0 JAIME SOPHER ARNOLD BOARD MEMBER 2.00 X 0 0 0 JOHN BLAIR BOARD MEMBER 2.00 X 0 0 0 ARABELLA K BROCKETT BOARD MEMBER 2.00 X 0 0 0 CASSANDRA NAYLOR BROOKS BOARD MEMBER 2.00 X 0 0 0 DIANA WARFIELD DALY BOARD MEMBER 2.00 X 0 0 0 STACY GARETT-RAY BOARD MEMBER 2.00 X 0 0 0 SARAH LEBRUN INGRAM BOARD MEMBER 2.00 X 0 0 0 CATHERINE Y JACKSON BOARD MEMBER 2.00 X 0 0 0 AMABEL BOYCE JAMES BOARD MEMBER 2.00 X 0 0 0 ELIZABETH R KOKINIS BOARD MEMBER 2.00 X 0 0 0 PETER J KORZENEWSKI BOARD MEMBER 2.00 X 0 0 0 JENNIFER E LAWRENCE BOARD MEMBER 2.00 X 0 0 0 CRYSTAL LEE BOARD MEMBER 2.00 X 0 0 0 LILA BOYCE LOHR BOARD MEMBER 2.00 X 0 0 0 KRISTOPHER A MALLAHAN BOARD MEMBER 2.00 X 0 0 0 L REID BOYCE NICHOLS BOARD MEMBER 2.00 X 0 0 0 W BROOKS PATERNOTTE BOARD MEMBER 2.00 X 0 0 0 CHARLOTTE S RIGGS BOARD MEMBER 2.00 X 0 0 0 ASHLEY EAST ROGERS BOARD MEMBER 2.00 X 0 0 0 HELEN ZINREICH SHAFER BOARD MEMBER 2.00 X 0 0 0 ERIKA DANEMAN SLATER BOARD MEMBER 2.00 X 0 0 0 ELIZABETH B WARFIELD BOARD MEMBER 2.00 X 0 0 0 WILLIAM L YERMAN BOARD MEMBER 2.00 X 0 0 0 CHRISTOPHER HUGHES HEAD OF SCHOOL 50.00 X 314302 0 114351 STACY MOHN ASSOCIATE HEAD OF SCHOOL 50.00 X 192679 0 46769 MARYANN JONES DIR OF ADVANCEMENT (THRU 2/14/25) 50.00 X 190753 0 34806 ROBERT AMMONS DIRECTOR OF IT 50.00 X 115286 0 20105 JESSICA MORGAN ATHLETIC DIRECTOR 50.00 X 120700 0 22562 EARL ELY DIRECTOR OF FACILITIES 50.00 X 120926 0 30344 CATIE PERICH DIRECTOR OF ADMISSIONS 50.00 X 116131 0 21581 1170777 0 290518 14 0 1 0 THE WHITING-TURNER CONTRACTING COMPANY 300 EAST JOPPA ROAD TOWSON MD 21286 CONSTRUCTION MANAGEMENT 2349660 SAGE DINING SERVICES INC 1402 YORK ROAD SUITE 100 LUTHERVILLE MD 21093 FOOD SERVICES 1074280 MAGNUM CONTRACTING 1013 WAITE AVE ELDERSBURG MD 21784 CONSTRUCTION 390505 LANDCARE USA LLC PO BOX 669261 DALLAS TX 75266 LAWN CARE 141697 CJ MAINTENANCE INC 9254 BENDIX ROAD COLUMBIA MD 21045 MAINTENANCE WORK 129156 8 45085 11322 3503962 183219 3560369 STUDENT TUITION FEES 900099 20519316 20519316 HORSE & STABLE INCOME 713990 1456878 1049796 407082 EXT. & DAY CARE PROG. 900099 228483 228483 SCHOLARSHIPS 900099 168458 168458 CAFETERIA & SNACK BAR 900099 154157 154157 561807 561807 23089099 1646950 -788 1647738 357921 11366 346555 346555 346555 9888623 9831523 57100 57100 57100 63181 45085 35653 27528 27528 141897 149765 -7868 -7868 28719733 22527860 406294 2225210 5857953 5857953 340780 340780 565958 378230 151729 35999 11721717 7739163 3215862 766692 547235 412706 110222 24307 2801710 2491387 254254 56069 902040 680288 181686 40066 51589 51589 56158 56158 159742 159742 1112410 1107538 4872 363191 363191 3093250 2893425 196214 3611 583679 434432 122281 26966 664446 647835 9967 6644 63106 61525 1581 377345 313669 58263 5413 2455620 2394230 36834 24556 440215 327652 92225 20338 ACTIVITIES/EVENTS 884173 708690 79240 96243 465698 437085 28613 33508015 26727978 5638067 1141970 2500 2500 4130462 3582009 1926815 1108514 657376 726559 67961876 37263278 28793556 30698598 13650446 13209896 35024315 34534356 28714337 26877530 112899807 110739962 2360851 1820674 3404722 3553377 6390795 6267417 46933 59372 9955368 9310208 22158669 21011048 X 34235199 31600082 56505939 58128832 90741138 89728914 112899807 110739962 -4788282 3776058 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 44743708 292959 5003976 7828917 42211726 40678538 1838389 4965784 2739003 44743708 37320453 2572584 3632723 2847222 40678538 42984276 1011347 -3832155 2843015 37320453 36957180 124550 8841111 2938565 42984276 0.07920 0.92080 0 0 325621 325621 64792553 35640304 29152249 2843702 1622974 1220728 30698598 BLACKROCK COREALPHA BOND FUND 6026846 F HEDGE FUNDS 3621761 F ISHARES S&P 500 INDEX FUND CLASS G 16546596 F LIMITED PARTNERSHIPS 5109180 F OTHER ALTERNATIVE INVESTMENTS 3229973 F 34534356 OTHER ASSETS 1164922 CONSTRUCTION IN PROGRESS 113053 BOND CLOSING COSTS 105477 REMAINDER TRUST 16184907 CONTRACT ASSET 9005290 ERC RECEIVABLE 4488 RIGHT OF USE ASSET 299393 26877530 DEFERRED CONTRACT ASSET 9005290 FINANCE LEASE LIABILITIES 304918 9310208 X 24794722 3776058 3776058 21018664 159742 7541327 7701069 28719733 25806946 196784 196784 25610162 159742 7738111 7897853 33508015 PART V, LINE 4: THE SCHOOL'S FINANCE COMMITTEE WILL ESTABLISH THE SPECIFIC DOLLAR AMOUNT THAT THE FUND WILL BE EXPECTED TO GENERATE TO CONTRIBUTE TO THE SCHOOL'S OPERATING FUND FOR THE NEXT FISCAL YEAR. THE DRAW FROM THE ENDOWMENT, OR SPENDING RATE, IS 7%. DURING THE YEARS ENDED JUNE 30, 2025 AND 2024, THE ENTIRE ALLOCATION WAS FOR THE OPERATING FUND. THE CALCULATION OF ENDOWMENT INCOME FOR THE OPERATING AND PLANT BUDGETS IS DEVELOPED EACH JANUARY FOR THE NEXT FISCAL YEAR AND IS BASED ON A THREE-YEAR ROLLING AVERAGE AS OF JUNE 30 FOR THE PRIOR THREE YEARS. PART X, LINE 2: THE SCHOOL HAS ADOPTED THE 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, 2022. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AMOUNTS NETTED ON FINANCIAL STATEMENTS 7,738,111. RENTAL EXPENSES NETTED WITH EXPENSES ON THE FINANCIAL STATEMENTS -11,366. FUNDRAISING EXPENSES NETTED WITH EXPENSES ON THE FINANCIAL STATEMENTS -35,653. COST OF GOODS SOLD AMOUNTS NETTED WITH REVENUE -149,765. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD AMOUNTS NETTED WITH REVENUE 149,765. RENTAL EXPENSES NETTED WITH EXPENSES ON THE FINANCIAL STATEMENTS 11,366. FUNDRAISING EXPENSES NETTED WITH EXPENSES ON THE FINANCIAL STATEMENTS 35,653. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID AMOUNTS NETTED ON FINANCIAL STATEMENTS 7,738,111. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE BALTIMORE INDEPENDENT SCHOOL CONSORTIUM PUBLISHES ANNUALLY IN THE LOCAL NEWSPAPERS AN ANNOUNCEMENT LISTING THE NAMES OF ALL MEMBER SCHOOLS, WHICH PUTS FORWARD OUR UNIFIED NON- DISCRIMINATORY POLICY. GARRISON IS LISTED IN THIS ANNOUNCEMENT. SCHEDULE E, PART I, LINE 6 THE SCHOOL APPLIED FOR A PAYROLL TAX CREDIT UNDER THE ERTC PROGRAM AUTHORIZED BY THE CARES ACT. THE ERTC PROGRAM ALLOWED ELIGIBLE EMPLOYERS TO APPLY FOR A REFUND OF PAYROLL TAXES PAID IN 2021 EQUAL TO 70% OF QUALIFYING WAGES UP TO $10,000 OF WAGES PER EMPLOYEE, WHICH HAD NOT BEEN PAID WITH FORGIVEN PPP LOAN PROCEEDS. THE SCHOOL MET ALL ELIGIBILITY REQUIREMENTS FOR THE ERTC AND RECORDED A REFUND RECEIVABLE AND CORRESPONDING INCOME OF $950,088 AS OF AND FOR THE YEAR ENDED JUNE 30, 2022. DURING THE YEAR ENDED JUNE 30, 2023, THE SCHOOL COLLECTED $300,876 OF ITS OUTSTANDING ERTC RECEIVABLE. DURING THE YEAR ENDED JUNE 30, 2025, THE SCHOOL COLLECTED THE REMAINING AMOUNT OF ITS OUTSTANDING ERTC RECEIVABLE. 1 NORTH AMERICA 0 0 GRANTMAKING 30000 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING 53835 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING 125110 SUB-SAHARAN AFRICA 0 0 GRANTMAKING 131835 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 4716242 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 1295271 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 PROGRAM SERVICES TRAVEL FOR ADMISSIONS 11400 0 0 0 0 0 0 6363693 0 6363693 FINANCIAL AID NORTH AMERICA 3 30000 AMOUNT APPLIED TOWARDS TUITION FINANCIAL AID EAST ASIA AND THE PACIFIC 2 53835 AMOUNT APPLIED TOWARDS TUITION FINANCIAL AID EUROPE (INCLUDING ICELAND & GREENLAND) 2 125110 AMOUNT APPLIED TOWARDS TUITION FINANCIAL AID SUB-SAHARAN AFRICA 2 131835 AMOUNT APPLIED TOWARDS TUITION 1 0 0 0 0 0 PART I, LINE 2: THE GRANT FUNDS ARE FINANCIAL AID THAT WAS APPLIED DIRECTLY TO THE STUDENTS TUITION ACCOUNT. GOLF & PICKELBALL 71250 45085 26165 2556 12970 6955 1222 SAPPHIRES & DENIM 37016 37016 6773 1624 3553 108266 45085 63181 2556 12970 13728 1624 4775 35653 27528 1 FINANCIAL AID 285 5796573 MERIT 2 61380 PART I, LINE 2: GFS USES FACTS, A SUPPLEMENTAL FORM, PAY STUBS, TAX RETURNS AND W-2'S TO HELP EVALUATE THE FINANCIAL NEED OF FAMILIES. ALL FINANCIAL AID FILES ARE ELECTRONIC. THE PREVIOUS YEAR'S TAX RETURN IS USED IN THE INITIAL DECISION BUT THE AMOUNT AWARDED IS CONTINGENT UPON RECEIPT AND REVIEW OF THE CURRENT YEAR'S TAX RETURN. IF THERE IS A SIGNIFICANT DISCREPANCY BETWEEN THE INFORMATION A FAMILY PROVIDED AND THE CURRENT TAX RETURN, AN AWARD WOULD BE ADJUSTED ACCORDINGLY. FAMILIES ARE NOTIFIED IN AN AWARD LETTER THE AMOUNT THAT WILL BE APPLIED TOWARDS THEIR TUITION. THE BUSINESS OFFICE APPLIES THE AWARDS TO THE STUDENT'S ACCOUNT. UPDATES / NEW ADDITIONS ARE SENT TO THE BUSINESS OFFICE AS NEEDED. X 1 1 X X X 0 0 0 0 0 0 0 0 0 CHRISTOPHER HUGHES HEAD OF SCHOOL 314302 0 0 0 0 0 41232 0 73119 0 428653 0 0 0 STACY MOHN ASSOCIATE HEAD OF SCHOOL 192679 0 0 0 0 0 33794 0 12975 0 239448 0 0 0 MARYANN JONES DIR OF ADVANCEMENT (THRU 2/14/25) 190753 0 0 0 0 0 5728 0 29078 0 225559 0 0 0 EARL ELY DIRECTOR OF FACILITIES 120926 0 0 0 0 0 8030 0 22314 0 151270 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL AND ATHLETIC DIRECTOR ARE PROVIDED WITH ON CAMPUS HOUSING. THE AMOUNT IS NOT INCLUDED IN TAXABLE COMPENSATION. A MARYLAND INDUSTRIAL DEVELOPMENT FINANCING AUTHORITY 526002033 574221LM7 2017-07-18 6562291 CONSTRUCTION 0 1 0 A 275000 6562291 125293 6430513 6485 1 0 1 1 A 0 0 0 0 0 0 0 A 0 1 0 0 0 0 0 0 1 A 1 SCHEDULE K, PART II, LINE 12 OTHER UNSPENT PROCEEDS INCLUDE A DEPOSIT TO INTEREST ACCOUNT FOR SERIES 2017 BONDS. 31285 FINANCIAL AID FINANCIAL AID X 9 183219 MKT PRICE - DATE OF TRAN 0 0 0 0 PART I, COLUMN (B): REPORTING THE NUMBER OF CONTRIBUTORS FORM 990, PART VI, SECTION A, LINE 2 ELIZABETH WARFIELD AND DIANA DALY HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FINAL DRAFT WILL BE DISTRIBUTED TO THE FULL FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C ANY TRUSTEE, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH THE BOARD OF TRUSTEES, WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST, IS AN INTERESTED PERSON. AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF ANY FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE MEMBERS OF THE BOARD COMMITTEE CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE OR SHE SHALL LEAVE THE COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. IF A BOARD COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE A FINANCIAL INTEREST OR AN ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, THE BOARD COMMITTEE SHALL INFORM THE MEMBER OF THE BASIS TO SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE A FINANCIAL INTEREST OR AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL REPORT THE MATTER TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FOR APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. THE PROCEEDINGS ARE DOCUMENTED IN THE MINUTES OF BOARD COMMITTEES. FORM 990, PART VI, SECTION B, LINE 15 IN DETERMINING THE COMPENSATION LEVEL FOR AN INCOMING HEAD OF SCHOOL OR A NEW MULTI-YEAR CONTRACT, LOCAL AND NATIONAL COMPARABLE STATISTICS ARE GATHERED, REVIEWED AND DOCUMENTED BY THE EXECUTIVE COMMITTEE OF THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D).