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Nonprofiteer
← FRIENDS SCHOOL OF BALTIMORE INC

Form 990 for tax year 2022

Filed by FRIENDS SCHOOL OF BALTIMORE INC.

Totals

Total revenue
$34,056,483
Total expenses
$34,546,031
Contributions and grants received
$3,758,938
Grants paid
$8,289,392
Program service revenue
$29,008,649
Investment income
$1,131,382
Other revenue
$157,514
Total assets, end of year
$87,934,601
Total liabilities, end of year
$6,934,791
Net assets or fund balances, end of year
$80,999,810
Program services expenses (Part IX)
$29,171,010
Management and general expenses
$4,232,453
Fundraising expenses
$1,142,568
Program service expenses (Part III)
$29,171,010

Program services were 84.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $28,940

  • 1d · Related organizations

    $68,337

  • 1f · All other contributions, gifts and grants

    $3,661,661

  • 1g · Noncash contributions included above

    $449,460

  • 2a · Program service revenue: TUITION

    total $25,994,004 · related or exempt $25,994,004

  • 2b · Program service revenue: LITTLE FRIENDS

    total $1,628,504 · related or exempt $1,628,504

  • 2c · Program service revenue: AUXILIARY ENTERPRISES

    total $1,215,416 · related or exempt $1,215,416

  • 2d · Program service revenue: LATE FEES & FORFEITED DEPOSITS

    total $82,055 · related or exempt $82,055

  • 2e · Program service revenue: YEARBOOK, OTHER CLUBS

    total $63,157 · related or exempt $63,157

  • 2f · All other program service revenue

    total $25,513 · related or exempt $25,513

  • 3 · Investment income

    total $1,192,012 · excluded $1,192,012

  • 6a · Gross rents

    real property $81,526

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $81,526

  • 6d · Net rental income or loss

    total $81,526 · excluded $81,526

  • 7a · Gross sales of assets other than inventory

    securities $21,285,073 · other assets $142,259

  • 7b · Less cost or other basis and sales expenses

    securities $21,391,969 · other assets $95,993

  • 7c · Gain or loss

    securities -$106,896 · other assets $46,266

  • 7d · Net gain or loss

    total -$60,630 · excluded -$60,630

  • 8a · Fundraising events: gross income

    $16,700

  • 8a · Fundraising events: contributions included on line 1c

    $28,940

  • 8b · Fundraising events: direct expenses

    $20,528

  • 8c · Net income from fundraising events

    total -$3,828 · excluded -$3,828

  • 11a · Other revenue: OTHER INCOME

    total $78,129 · excluded $78,129

  • 11b · Other revenue: LOAN INTEREST

    total $1,687 · excluded $1,687

  • 11e · Other revenue, total

    $79,816

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $8,289,392 · program services $8,289,392

  • 5 · Compensation of officers, directors and key employees

    total $477,834 · management and general $477,834

  • 7 · Other salaries and wages

    total $13,519,998 · program services $11,736,881 · management and general $1,109,378 · fundraising $673,739

  • 8 · Pension plan contributions

    total $455,137 · program services $372,003 · management and general $63,770 · fundraising $19,364

  • 9 · Other employee benefits

    total $1,745,097 · program services $1,477,203 · management and general $174,232 · fundraising $93,662

  • 10 · Payroll taxes

    total $1,011,496 · program services $852,152 · management and general $111,452 · fundraising $47,892

  • 11b · Fees: legal

    total $108,299 · management and general $108,299

  • 11c · Fees: accounting

    total $44,793 · management and general $44,793

  • 11e · Fees: professional fundraising services

    total $42,409 · fundraising $42,409

  • 11f · Fees: investment management

    total $204,961 · management and general $204,961

  • 11g · Fees: other

    total $983,708 · program services $778,497 · management and general $179,256 · fundraising $25,955

  • 12 · Advertising and promotion

    total $11,513 · management and general $11,513

  • 13 · Office expenses

    total $173,432 · program services $115,871 · management and general $43,040 · fundraising $14,521

  • 14 · Information technology

    total $471,891 · program services $443,893 · management and general $18,958 · fundraising $9,040

  • 16 · Occupancy

    total $666,166 · program services $564,696 · management and general $81,975 · fundraising $19,495

  • 17 · Travel

    total $5,283 · fundraising $5,283

  • 19 · Conferences, conventions and meetings

    total $131,356 · management and general $56,590 · fundraising $74,766

  • 20 · Interest

    total $100,070 · program services $85,449 · management and general $11,789 · fundraising $2,832

  • 22 · Depreciation, depletion and amortization

    total $2,203,019 · program services $1,960,126 · management and general $195,929 · fundraising $46,964

  • 23 · Insurance

    total $327,026 · management and general $327,026

  • 24a · Other expenses: EQUIP. RENTAL AND MAINT

    total $1,018,997 · program services $857,989 · management and general $132,400 · fundraising $28,608

  • 24b · Other expenses: MISCELLANEOUS

    total $818,989 · program services $388,160 · management and general $401,388 · fundraising $29,441

  • 24c · Other expenses: INSTRUCTION

    total $351,266 · program services $351,266

  • 24d · Other expenses: STUDENT SERVICES

    total $344,641 · program services $344,641

  • 24e · All other expenses

    total $1,039,258 · program services $552,791 · management and general $477,870 · fundraising $8,597

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,501 · end of year $1,501

  • 2 · Savings and temporary cash investments

    beginning of year $5,893,677 · end of year $4,239,154

  • 3 · Pledges and grants receivable

    beginning of year $235,339 · end of year $697,807

  • 4 · Accounts receivable

    beginning of year $250,330 · end of year $131,658

  • 5 · Loans and receivables from officers and key people

    beginning of year $153 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $88,901 · end of year $96,284

  • 8 · Inventories for sale or use

    beginning of year $87,270 · end of year $83,674

  • 9 · Prepaid expenses and deferred charges

    beginning of year $677,307 · end of year $684,936

  • 10a · Land, buildings and equipment: cost or other basis

    $62,454,559

  • 10b · Land, buildings and equipment: accumulated depreciation

    $25,466,230

  • 10c · Land, buildings and equipment, net

    beginning of year $36,689,505 · end of year $36,988,329

  • 11 · Investments: publicly traded securities

    beginning of year $41,280,648 · end of year $44,390,906

  • 15 · Other assets

    beginning of year $569,204 · end of year $620,352

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,570,735 · end of year $1,776,605

  • 19 · Deferred revenue

    beginning of year $2,066,089 · end of year $1,934,187

  • 20 · Tax-exempt bond liabilities

    beginning of year $3,435,999 · end of year $3,223,999

  • 27 · Net assets without donor restrictions

    beginning of year $39,262,704 · end of year $39,601,157

  • 28 · Net assets with donor restrictions

    beginning of year $39,438,308 · end of year $41,398,653

Mission and programs · 2022

Mission

A QUAKER SCHOOL-TO FOSTER IN YOUNG PEOPLE THE SKILLS, KNOWLEDGE, AND HABITS OF MIND NEEDED TO PARTNER WITH THEIR COMMUNITIES AND TO BE COURAGEOUS CHANGE-MAKERS IN THE WORLD. EDUCATION IS A JOURNEY, A CONTINUAL SEEKING AFTER TRUTH THAT RELIES ON BOTH INWARD REFLECTION AND OUTWARD CONNECTION WITH OTHERS, ESPECIALLY ACROSS LINES OF DIFFERENCE. LEARNING IS GROUNDED IN RELATIONSHIPS AND DEEPENED BY APPLICATION TO THE WORLD BEYOND OUR CAMPUS. GUIDED BY THE TESTIMONIES OF SIMPLICITY, PEACE, INTEGRITY, COMMUNITY, EQUALITY, AND STEWARDSHIP, AND OUR CORE BELIEF THAT THERE IS THAT OF GOD IN EACH PERSON, AND WE UNDERSTAND THESE TESTIMONIES AND THIS BELIEF TO BE A CALL TO JUSTICE. WE VALUE DIVERSITY, PURSUE EQUITY, AND STRIVE TO BE AN ACTIVELY INCLUSIVE INSTITUTION THAT WORKS AGAINST SYSTEMIC OPPRESSION, WITHIN A CAMPUS COMMUNITY WHERE EACH INDIVIDUAL CAN LIVE OUT THEIR FULL IDENTITIES. WE SEEK IN ALL WAYS TO EXEMPLIFY THE IDEALS OF THE RELIGIOUS SOCIETY OF FRIENDS.

Activities or mission (Part I)

FOUNDED IN 1784, FRIENDS SCHOOL OF BALTIMORE PROVIDES A COEDUCATIONAL, COLLEGE PREPARATORY PROGRAM GUIDED BY THE QUAKER VALUES OF TRUTH, EQUALITY, SIMPLICITY, COMMUNITY, AND PEACEFUL RESOLUTION OF CONFLICT.

  • INSTRUCTION AND EDUCATION - FOR STUDENTS IN GRADES PRIMARY TO 12TH.

    Expenses $26,718,656 · Grants $8,289,392 · Revenue $25,994,004

  • AUXILIARY ENTERPRISES - AFTER SCHOOL PROGRAMS, MUSIC LESSONS, PRESCHOOL & CHILD CARE AND SUMMER CAMP SERVING OVER 500 STUDENTS.

    Expenses $2,452,354 · Revenue $3,014,645

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • LESTER DAVIS

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • BRANDYN HICKS

    ASSISTANT CHAIR

    Total calculated
    $0
    Hours/week
    1

  • BURCK SMITH

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • CHRISTOPHER FEISS

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • JOHN BAER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BARBARA BROCATO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KITTY BRYANT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MELISSA BRYANT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JENNIFER BUNKLEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • LARRY CLEMENTS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • TIFFANI COLLINS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • GEN DISTANCE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • GULI FAGER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SUZY FILBERT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • NORMAN FORBUSH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JON FRIAR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOEL GOLDBERG

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KATHERINE HANCOCK PORTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ZAJE HARRELL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DANIEL MOYLAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ABBY REINER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • R PAUL SABUNDAYO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • FELICITY TURNER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MEGAN WILBERTON

    TRUSTEE, FACULTY REP

    Total calculated
    $0
    Hours/week
    1

  • PAMELA YOUNG

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CHRISTIAN DONOVAN

    HEAD OF SCHOOL

    Total calculated
    $271,592
    From this org
    $206,745
    From related orgs
    $0
    Other
    $64,847
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $197,130
    Bonus
    $0
    Other
    $9,615
    Deferred
    $7,000
    Nontaxable benefits
    $57,847
    Filer's total
    $271,592

  • BONITA B HEARN

    ASSISTANT HEAD OF SCHOOL

    Total calculated
    $206,243
    From this org
    $172,418
    From related orgs
    $0
    Other
    $33,825
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,418
    Bonus
    $0
    Other
    $0
    Deferred
    $8,611
    Nontaxable benefits
    $25,214
    Filer's total
    $206,243

  • MALCOLM HAYNES

    CHIEF FINANCIAL & OPERATING OFFICER (FROM 6/2023)

    Total calculated
    $0
    Hours/week
    40

  • ASHLEY PRINCIPE

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $208,061
    From this org
    $164,745
    From related orgs
    $0
    Other
    $43,316
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,745
    Bonus
    $0
    Other
    $0
    Deferred
    $7,703
    Nontaxable benefits
    $35,613
    Filer's total
    $208,061

  • JEANNE PHIZACKLEA

    ASSISTANT HEAD OF SCHOOL

    Total calculated
    $170,991
    From this org
    $132,940
    From related orgs
    $0
    Other
    $38,051
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,940
    Bonus
    $0
    Other
    $0
    Deferred
    $6,847
    Nontaxable benefits
    $31,204
    Filer's total
    $170,991

  • MICHELLE HOLLAND

    PRINCIPAL - LOWER SCHOOL

    Total calculated
    $165,967
    From this org
    $122,729
    From related orgs
    $0
    Other
    $43,238
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,729
    Bonus
    $0
    Other
    $0
    Deferred
    $6,393
    Nontaxable benefits
    $36,845
    Filer's total
    $165,967

  • CARL GRANT

    DIRECTOR OF PHYSICAL PLANT

    Total calculated
    $137,423
    From this org
    $121,148
    From related orgs
    $0
    Other
    $16,275
    Hours/week
    40

  • HEIDI HUTCHISON

    PRINCIPAL - MIDDLE SCHOOL

    Total calculated
    $128,099
    From this org
    $121,717
    From related orgs
    $0
    Other
    $6,382
    Hours/week
    40

  • DENNIS BISGAARD

    FORMER INTERIM HEAD OF SCHOOL

    Total calculated
    $243,470
    From this org
    $160,284
    From related orgs
    $0
    Other
    $83,186
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $160,284
    Bonus
    $0
    Other
    $0
    Deferred
    $9,464
    Nontaxable benefits
    $73,722
    Filer's total
    $243,470

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE PRESIDENT (HEAD OF SCHOOL) IS REQUIRED TO LIVE IN A HOUSE LOCATED ON THE SCHOOL'S PREMISES FOR THE SCHOOL'S CONVENIENCE AND AS A CONDITION OF EMPLOYMENT. THIS BENEFIT WAS VALUED TO BE $20,100 FOR THE HEAD OF SCHOOL AND IS INCLUDED AS A NON-TAXABLE BENEFIT FOR THEM.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • LITTLE FRIENDS LLC

    CHILD CARE · MD · income $1,628,504 · assets $0

    Directly controlled by FRIENDS SCHOOL OF BALTIMORE INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202401369349303460

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