Skip to content
Nonprofiteer
← BOYS LATIN SCHOOL OF MARYLAND INCORPORATED

Form 990 for tax year 2023

Filed by BOYS LATIN SCHOOL OF MARYLAND INCORPORATED.

Totals

Total revenue
$30,217,579
Total expenses
$28,564,120
Contributions and grants received
$4,665,802
Grants paid
$5,433,215
Program service revenue
$21,891,700
Investment income
$3,368,955
Other revenue
$291,122
Total assets, end of year
$139,597,198
Total liabilities, end of year
$44,187,070
Net assets or fund balances, end of year
$95,410,128
Program services expenses (Part IX)
$22,295,606
Management and general expenses
$4,790,814
Fundraising expenses
$1,477,700
Program service expenses (Part III)
$22,295,606

Program services were 78.1% 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.

  • 1f · All other contributions, gifts and grants

    $4,665,802

  • 1g · Noncash contributions included above

    $464,495

  • 2a · Program service revenue: TUITION & FEES

    total $21,874,633 · related or exempt $21,874,633

  • 2b · Program service revenue: TUITION RELATED INCOME

    total $16,807 · related or exempt $16,807

  • 2c · Program service revenue: YEARBOOK

    total $260 · related or exempt $260

  • 3 · Investment income

    total $2,293,673 · excluded $2,293,673

  • 6a · Gross rents

    real property $73,710

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $73,710

  • 6d · Net rental income or loss

    total $73,710 · excluded $73,710

  • 7a · Gross sales of assets other than inventory

    securities $13,720,244

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

    securities $12,644,962

  • 7c · Gain or loss

    securities $1,075,282

  • 7d · Net gain or loss

    total $1,075,282 · excluded $1,075,282

  • 8a · Fundraising events: gross income

    $185,077

  • 8b · Fundraising events: direct expenses

    $46,532

  • 8c · Net income from fundraising events

    total $138,545 · excluded $138,545

  • 10a · Gross sales of inventory

    $398,492

  • 10b · Cost of goods sold

    $369,427

  • 10c · Net income from sales of inventory

    total $29,065 · excluded $29,065

  • 11a · Other revenue: PARENTS ASSOC/APPRECIA

    total $45,117 · excluded $45,117

  • 11b · Other revenue: RECOVERY OF BAD DEBT

    total $4,685 · excluded $4,685

  • 11e · Other revenue, total

    $49,802

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $5,433,215 · program services $5,433,215

  • 5 · Compensation of officers, directors and key employees

    total $837,308 · program services $603,536 · management and general $170,552 · fundraising $63,220

  • 7 · Other salaries and wages

    total $10,406,750 · program services $7,501,242 · management and general $2,119,764 · fundraising $785,744

  • 8 · Pension plan contributions

    total $542,613 · program services $391,118 · management and general $110,526 · fundraising $40,969

  • 9 · Other employee benefits

    total $1,597,005 · program services $1,151,130 · management and general $325,296 · fundraising $120,579

  • 10 · Payroll taxes

    total $781,718 · program services $563,467 · management and general $159,229 · fundraising $59,022

  • 11b · Fees: legal

    total $35,262 · management and general $35,262

  • 11c · Fees: accounting

    total $54,870 · management and general $54,870

  • 11g · Fees: other

    total $622,474 · program services $513,650 · management and general $55,020 · fundraising $53,804

  • 12 · Advertising and promotion

    total $244,866 · program services $176,501 · management and general $49,877 · fundraising $18,488

  • 13 · Office expenses

    total $539,915 · program services $389,174 · management and general $109,976 · fundraising $40,765

  • 16 · Occupancy

    total $2,163,263 · program services $1,602,538 · management and general $467,472 · fundraising $93,253

  • 17 · Travel

    total $449,730 · program services $324,168 · management and general $91,606 · fundraising $33,956

  • 20 · Interest

    total $983,573 · program services $739,000 · management and general $218,981 · fundraising $25,592

  • 22 · Depreciation, depletion and amortization

    total $2,671,226 · program services $2,006,850 · management and general $594,857 · fundraising $69,519

  • 23 · Insurance

    total $204,384 · program services $153,562 · management and general $45,504 · fundraising $5,318

  • 24a · Other expenses: ALUMNI/PARENT ASSOCIATI

    total $82,446 · program services $82,446

  • 24b · Other expenses: TEACHER/STAFF APPRECIAT

    total $22,460 · program services $22,460

  • 24e · All other expenses

    total $891,042 · program services $641,549 · management and general $182,022 · fundraising $67,471

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $50,500 · end of year $50,500

  • 2 · Savings and temporary cash investments

    beginning of year $1,074,290 · end of year $2,012,185

  • 3 · Pledges and grants receivable

    beginning of year $6,303,308 · end of year $6,298,592

  • 4 · Accounts receivable

    beginning of year $146,581 · end of year $269,698

  • 8 · Inventories for sale or use

    beginning of year $149,741 · end of year $176,695

  • 9 · Prepaid expenses and deferred charges

    beginning of year $533,289 · end of year $695,493

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

    $91,889,843

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

    $32,221,169

  • 10c · Land, buildings and equipment, net

    beginning of year $56,583,545 · end of year $59,668,674

  • 11 · Investments: publicly traded securities

    beginning of year $51,018,104 · end of year $48,293,070

  • 12 · Investments: other securities

    beginning of year $6,417,596 · end of year $8,090,938

  • 15 · Other assets

    beginning of year $13,541,154 · end of year $14,041,353

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,434,436 · end of year $1,745,166

  • 19 · Deferred revenue

    beginning of year $1,666,672 · end of year $1,619,350

  • 20 · Tax-exempt bond liabilities

    beginning of year $24,667,284 · end of year $24,341,909

  • 25 · Other liabilities

    beginning of year $15,480,446 · end of year $16,480,645

  • 27 · Net assets without donor restrictions

    beginning of year $44,107,372 · end of year $56,872,402

  • 28 · Net assets with donor restrictions

    beginning of year $46,461,898 · end of year $38,537,726

Mission and programs · 2023

Mission

SEE SCHEDULE O.

Activities or mission (Part I)

THE BOYS' LATIN SCHOOL OF MARYLAND IS A COLLEGE PREP SCHOOL FOR BOYS, GRADES K - 12.

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $22,295,606 · Grants $5,433,215 · Revenue $21,891,700

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • Richard H Bagby

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • W Kyle Gore

    FIRST VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Gregory S Horning

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Joseph Cowan

    ASSISTANT TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Eileen Wilcox

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • J Duncan Smith

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Geoffrey H Brent

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • James C Alban IV

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Theodore W Bauer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Cassandra N Brooks

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Thomas P Finnerty

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Shelly Hairston-Jones

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Frank S Jones Jr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Harold G Hathaway III

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Henry A Lederer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Ryan McClernan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Mark G Moxley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jennifer St John

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Jason Al Timoll

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Stacy J Walsh

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Stephen E Wright

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Christopher J Post

    HEADMASTER

    Total calculated
    $558,043
    From this org
    $436,387
    From related orgs
    $0
    Other
    $121,656
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $372,612
    Bonus
    $62,809
    Other
    $966
    Deferred
    $37,355
    Nontaxable benefits
    $84,301
    Filer's total
    $558,043

  • Sean Kriebel

    CFO/ASSISTANT HEADMASTER

    Total calculated
    $204,846
    From this org
    $191,545
    From related orgs
    $0
    Other
    $13,301
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $183,145
    Bonus
    $7,500
    Other
    $900
    Deferred
    $12,747
    Nontaxable benefits
    $554
    Filer's total
    $204,846

  • Craig Brooks

    ASSOC. HEADMASTER FOR DEV.

    Total calculated
    $204,967
    From this org
    $173,362
    From related orgs
    $0
    Other
    $31,605
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,072
    Bonus
    $0
    Other
    $1,290
    Deferred
    $7,077
    Nontaxable benefits
    $24,528
    Filer's total
    $204,967

  • Brian Mitchell

    DIR. OF ENROLLMENT MGMT

    Total calculated
    $177,348
    From this org
    $136,541
    From related orgs
    $0
    Other
    $40,807
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,258
    Bonus
    $10,000
    Other
    $283
    Deferred
    $9,806
    Nontaxable benefits
    $31,001
    Filer's total
    $177,348

  • Jennifer McDonald

    ACCOUNTING MANAGER

    Total calculated
    $145,444
    From this org
    $122,876
    From related orgs
    $0
    Other
    $22,568
    Hours/week
    40

  • James Currie

    DIR. OF MIDDLE SCHOOL ADMIN

    Total calculated
    $141,901
    From this org
    $120,470
    From related orgs
    $0
    Other
    $21,431
    Hours/week
    40

  • R Brandon Mollett

    ACADEMIC DEAN

    Total calculated
    $160,820
    From this org
    $140,978
    From related orgs
    $0
    Other
    $19,842
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,548
    Bonus
    $0
    Other
    $430
    Deferred
    $9,942
    Nontaxable benefits
    $9,900
    Filer's total
    $160,820

  • Alex Onyekwere

    DIR. OF TECHNOLOGY

    Total calculated
    $145,597
    From this org
    $114,358
    From related orgs
    $0
    Other
    $31,239
    Hours/week
    40

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
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE HEADMASTER RECEIVES SOCIAL CLUB DUES. THE DUES ARE INCLUDED IN TAXABLE COMPENSATION. THE HEADMASTER IS PROVIDED WITH ON CAMPUS HOUSING. THE VALUE IS NOT INCLUDED IN HIS TAXABLE COMPENSATION BUT IS INCLUDED IN SCHEDULE J, PART II, COLUMN D.
PART I, LINE 4B
THE HEADMASTER PARTICIPATES IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. $12,900 WAS SET ASIDE AS A CONTRIBUTION DURING THE YEAR.
PART I, LINE 7
THE SCHOOL HAS AN ANNUAL DISCRETIONARY BONUS FOR CERTAIN EMPLOYEES BASED ON PERFORMANCE.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202521359349306067

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.