2026-05-15T07:39:10-05:00 2025-06-30 420714325 RSM US LLP 9801 WASHINGTONIAN BLVD STE 500 GAITHERSBURG MD 20878 990 2024-07-01 520735085 THE BOYS' LATIN SCHOOL OF MARYLAND INC BOYS 4103775192 822 W LAKE AVENUE BALTIMORE MD 21210 SEAN KRIEBEL ASSISTANT HEADMASTER/CFO 4103775192 2026-05-14 1 1 JULIA FLANNERY P00928918 3012963600 2026-05-14 2024 2025-03-06 01:10:19Z CHRISTOPHER J POST 822 W LAKE AVENUE BALTIMORE MD 21210 42293903 0 X WWW.BOYSLATINMD.COM X 1960 MD THE BOYS' LATIN SCHOOL OF MARYLAND IS A COLLEGE PREP SCHOOL FOR BOYS, GRADES K - 12. 22 21 235 200 0 0 4665802 2863047 21891700 22686003 3368955 1546623 291122 301715 30217579 27397388 5433215 5739652 0 0 14165394 14281541 0 0 1435819 8965511 10307041 28564120 30328234 1653459 -2930846 139597198 137287065 44187070 41297478 95410128 95989587 X SEE SCHEDULE O. 0 0 23001306 5739652 22686003 OUR FACULTY: BOYS' LATIN IS A SMALL SCHOOL WITH 605 BOYS IN GRADES K-12. OUR FACULTY HAS AN AVERAGE OF 18 YEARS OF TEACHING EXPERIENCE, MORE THAN 78% HOLD ADVANCED DEGREES, AND ALL ARE EXPERTS IN ALL-BOYS EDUCATION. CLASS SIZES ARE SMALL, WITH A STUDENT-FACULTY RATIO OF 7:1. THIS ALLOWS TEACHERS TO GET TO KNOW EACH BOY, LEARNING WHAT DRIVES HIM, WHAT BOOKS HE LOVES, AND WHAT HIS FAVORITE PART OF THE SCHOOL DAY IS. TO ADVANCE OUR COMMITMENT TO BEING A SCHOOL FOR BOYS, OUR FACULTY ATTEND CONFERENCES FOCUSED ON ALL-BOYS EDUCATION, PARTICIPATE IN WORKSHOPS GIVEN BY LEADING AUTHORITIES IN THE FIELDS OF BOYS' EDUCATION AND BRAIN RESEARCH, AND CONTRIBUTE TO LOCAL CONFERENCES DEDICATED TO THE ACADEMIC, SOCIAL, AND PHYSICAL DEVELOPMENT OF BOYS. BOYS' LATIN IS AN ACTIVE MEMBER OF THE INTERNATIONAL BOYS' SCHOOL COALITION (IBSC). IBSC IS A NONPROFIT ORGANIZATION OF MORE THAN 300 MEMBER SCHOOLS FROM TWENTY COUNTRIES AND FIVE CONTINENTS, DEDICATED TO THE EDUCATION AND DEVELOPMENT OF BOYS WORLDWIDE. AT BOYS' LATIN, FACULTY ENSURE THAT BOYS ENGAGE FULLY IN THEIR LEARNING BY ENGAGING IN THE HANDS-ON ACTIVITIES, EXPERIENTIAL LEARNING, AND TEAMWORK THAT WE KNOW CAPTURES THEIR INTEREST AND DRIVES THEIR GROWTH.HISTORY & IDENTITY: FOUNDED IN 1844 BY DR. EVERT MARSH TOPPING, A PRINCETON CLASSICS PROFESSOR, BOYS' LATIN IS THE OLDEST INDEPENDENT, NON-SECTARIAN COLLEGE PREPARATORY SCHOOL FOR BOYS NOT ONLY IN MARYLAND BUT IN THE MID-ATLANTIC. BOYS' LATIN IS COMMITTED TO BEING A SMALL SCHOOL, SERVING BOYS IN GRADES K-12. AT BOYS' LATIN, EACH STUDENT IS UNIQUELY KNOWN AND VALUED FOR WHO HE IS AND IS ENCOURAGED TO GROW TO BE HIS BEST, MOST AUTHENTIC SELF. 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. BOYS' LATIN STRIVES TO CREATE AN INCLUSIVE SCHOOL COMMUNITY AND PREPARE BOYS FOR THE PLURALISTIC SOCIETY IN WHICH WE LIVE, WORK, AND PLAY.OUR PROGRAMS: THE SCHOOL OFFERS A RIGOROUS ACADEMIC PROGRAM THAT PREPARES YOUNG MEN FOR THE CHALLENGES OF THE 21ST CENTURY. OUR ACADEMIC PROGRAM IS DESIGNED SO BOYS WILL NOT ONLY MASTER CRITICAL FOUNDATIONAL ACADEMIC SKILLS BUT PROVIDE THEM WITH THE TOOLS TO THINK CRITICALLY, APPROACH COMPLEX ISSUES AND PROBLEMS WITH A CLEAR PERSPECTIVE, AND BECOME INQUISITIVE LEARNERS. BOYS' LATIN OFFERS A COLLEGE PREPARATORY PROGRAM WITH HONORS CLASSES AND OVER 18 ADVANCED PLACEMENT (AP) AND POST-AP COLLEGE-LEVEL CLASSES IN THE UPPER SCHOOL. WE FOLLOW A 7-DAY SCHEDULE IN THE UPPER AND MIDDLE SCHOOLS THAT ALLOWS FOR ROTATION OF CORE CLASSES, MORE COURSE OFFERINGS, AND TIME FOR CO-CURRICULAR ACTIVITIES. OUR ATHLETIC PROGRAM INCLUDES 42 TEAMS THAT COMPETE IN INTERSCHOLASTIC COMPETITIONS IN SOCCER, FOOTBALL, CROSS COUNTRY, WRESTLING, SQUASH, BASKETBALL, ICE HOCKEY, LACROSSE, GOLF, BASEBALL, TENNIS, AND VOLLEYBALL. AT BOYS' LATIN, STUDENTS ARE ENCOURAGED TO PURSUE NEW INTERESTS AND TALENTS. OUR SCHEDULE IS INTENTIONALLY DESIGNED TO ALLOW BOYS TO PARTICIPATE IN SPORTS, MUSIC, CLUBS, OR SERVICE WITHOUT CONFLICT. OUR ROBUST ARTS PROGRAM PROVIDES OPPORTUNITIES FOR STUDENTS TO ENGAGE IN THEATER, MUSIC, FINE ARTS, AND DIGITAL ARTS. OUR K-12 ROBOTICS PROGRAM TEACHES STUDENTS HOW TO BREAK DOWN A PROBLEM, INNOVATE SOLUTIONS, PERSIST, AND COLLABORATE. MANY STUDENTS WHO PARTICIPATE IN ROBOTICS GO ON TO ATTEND TOP ENGINEERING COLLEGES AND ENTER CAREERS IN ENGINEERING, MATH, AND COMPUTER SCIENCE. WE ALSO OFFER NUMEROUS CO-CURRICULAR ACTIVITIES AND CLUBS INCLUDING, BUT NOT LIMITED TO, MODEL UN, MOCK TRIAL, IT'S ACADEMIC, MATH COUNTS, DEBATE CLUB, STUDENT NEWSPAPERS, YEARBOOK, STUDENT COUNCIL, NATIONAL HONOR SOCIETY, WILLIAMS SCHOLARS, CHESS CLUB, BLACK STUDENT UNION, ONE LAKER | ONE LOVE CLUB, JEWISH AWARENESS CLUB, AND CYBERSECURITY. OUR FACILITIES: SINCE 1960 BOYS' LATIN HAS CALLED OUR CAMPUS ON BOTH SIDES OF LAKE AVENUE HOME. OUR SCHOOL HAS GROWN FROM A SINGLE RENTED CLASSROOM IN DOWNTOWN BALTIMORE TO A BEAUTIFUL SPRAWLING 70+ ACRE CAMPUS WITH STATE-OF-THE-ART FACILITIES. OUR BUILDINGS HOUSE STATE-OF-THE-ART CLASSROOMS, AND EACH DIVISION HAS ITS OWN LIBRARY. A BLACK BOX THEATER PROVIDES SPACE FOR MIDDLE AND UPPER SCHOOL PRODUCTIONS. ADDITIONALLY, TENNIS COURTS, A BASEBALL FIELD, TWO ASTROTURF FIELDS, AND TWO FULL-SERVICE ATHLETIC FACILITIES PROVIDE THE PERFECT VENUES FOR STUDENT-ATHLETES TO PLAY AND COMPETE WITH CHARACTER. IN JANUARY OF 2020, BOYS' LATIN PURCHASED 28 ACRES ADJACENT TO OUR SOUTH CAMPUS, WHICH HAS BEEN TRANSFORMED INTO AN EXPANSIVE RESIDENTIAL LIVING FACILITY. THE FIRST BOARDING STUDENTS JOINED OUR COMMUNITY IN THE FALL OF 2021. IN ADDITION TO THE BOARDING FACILITIES, THE NEW PROPERTY PROVIDES STUDENTS IN ALL DIVISIONS WITH A MYRIAD OF OUTDOOR LEARNING OPPORTUNITIES. 23001306 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 1 80 0 1 235 1 0 0 0 0 0 0 0 0 0 0 0 0 X 22 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X SEAN KRIEBEL ASSISTANT HEADMASTERCFO 4103775192 822 W LAKE AVENUE BALTIMORE MD 21210 RICHARD H BAGBY PRESIDENT 2.00 X X 0 0 0 W KYLE GORE FIRST VICE PRESIDENT 2.00 X X 0 0 0 GREGORY S HORNING TREASURER 2.00 X X 0 0 0 JOSEPH COWAN ASSISTANT TREASURER 2.00 X X 0 0 0 EILEEN WILCOX SECRETARY 2.00 X X 0 0 0 J DUNCAN SMITH ASSISTANT SECRETARY 2.00 X X 0 0 0 JAMES C ALBAN IV BOARD MEMBER 2.00 X 0 0 0 RALEIGH BRENT BOARD MEMBER 2.00 X 0 0 0 CASSANDRA N BROOKS BOARD MEMBER 2.00 X 0 0 0 JUAN M BUENDIA BOARD MEMBER 2.00 X 0 0 0 THOMAS P FINNERTY BOARD MEMBER 2.00 X 0 0 0 HAROLD G HATHAWAY III BOARD MEMBER 2.00 X 0 0 0 DANA JACKSON BOARD MEMBER 2.00 X 0 0 0 SHELLY HAIRSTON-JONES BOARD MEMBER 2.00 X 0 0 0 FRANK S JONES JR BOARD MEMBER 2.00 X 0 0 0 WARNER P MASON BOARD MEMBER 2.00 X 0 0 0 RYAN MCCLERNAN BOARD MEMBER 2.00 X 0 0 0 RYAN MOLLETT BOARD MEMBER 2.00 X 0 0 0 MARK G MOXLEY BOARD MEMBER 2.00 X 0 0 0 JENNIFER ST JOHN BOARD MEMBER 2.00 X 0 0 0 JASON AL TIMOLL BOARD MEMBER 2.00 X 0 0 0 KIMBERLY M WOLFF BOARD MEMBER 2.00 X 0 0 0 CHRISTOPHER POST HEADMASTER 40.00 X 486227 0 130604 SEAN KRIEBEL CFO/ASSISTANT HEADMASTER 40.00 X 201598 0 14016 CRAIG BROOKS ASSOC HEADMASTER FOR DEVELOPMENT 40.00 X 178189 0 36644 R BRANDON MOLLETT ACADEMIC DEAN 40.00 X 145999 0 18818 BRIAN MITCHELL DIRECTOR OF ENROLLMENT MANAGEMENT 40.00 X 143023 0 36644 JENNIFER MCDONALD ACCOUNTING MANAGER 40.00 X 128508 0 21834 JAMES CURRIE DIRECTOR MIDDLE SCHOOL ADMIN 40.00 X 124013 0 20268 ALEX ONYEKWERE DIRECTOR OF TECHNOLOGY 40.00 X 121673 0 26751 1529230 0 305579 19 0 1 0 SAGE 1402 YORK ROAD LUTHERVILLE MD 21093 DINING SERVICES 1881861 THE MULLAN CONTRACTING CO 2330 W JOPPA ROAD SUITE 210 LUTHERVILLE MD 21093 CONSTRUCTION 1193297 GUIDO PICCININI & SONS POST OFFICE BOX 46 STEVENSON MD 21153 LANDSCAPING 443936 SAFEGUARD MAINTENANCE CORPORATION 138 COCKEYSVILLE RD COCKEYSVILLE MD 21030 CLEANING CONTRACT 347173 FIDELITY ENGINERING 25 LOVETON CIRCLE SPARKS MD 21152 MECHANICAL SERVICES 268722 11 2863047 517076 2863047 TUITION & FEES 611600 22661908 22661908 TUITION RELATED INCOME 611600 23920 23920 YEARBOOK 611600 175 175 22686003 2956056 2956056 75330 0 75330 75330 75330 13086843 14124706 371570 -1037863 -371570 -1409433 -1409433 160705 35347 125358 125358 414092 364892 49200 49200 PARENTS ASSOC/APPRECIA 900099 47036 47036 RECOVERY OF BAD DEBT 900099 4791 4791 51827 27397388 22686003 0 1848338 5739652 5739652 905478 656777 183849 64852 10546994 7650134 2141467 755393 583666 423355 118508 41803 1451808 1053051 294776 103981 793595 575624 161132 56839 42457 42457 68965 68965 774599 642665 68476 63458 242682 176027 49274 17381 532527 386262 108125 38140 2310334 1713348 502062 94924 582278 422348 118226 41704 805250 603556 180589 21105 2784595 2087128 624485 72982 259641 194608 58228 6805 PROVISION FOR UNCOLLECT 1010453 1010453 ALUMNI/PARENT ASSOCIATI 79483 79483 TEACHER/STAFF APPRECIAT 25577 25577 788200 571711 160037 56452 30328234 23001306 5891109 1435819 50500 50763 2012185 856134 6298592 4693118 269698 187524 246304 176695 242418 695493 606125 93778309 34850150 59668674 58928159 48293070 49768611 8090938 9402442 14041353 12305467 139597198 137287065 1745166 1674138 1619350 1725616 24341909 23892512 16480645 14005212 44187070 41297478 X 56872402 54124059 38537726 41865528 95410128 95989587 139597198 137287065 X -2930846 3537533 -27228 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 57665559 1650019 5455463 5511538 59259503 57629860 1278436 6570397 7813134 57665559 56441410 1108704 6609305 6529559 57629860 62935329 1640917 -6162653 1972183 56441410 48566886 1915247 14367524 1914328 62935329 0.32180 0.67820 0 0 2895004 2895004 73820138 24253547 49566591 7678248 3884578 3793670 4035690 3558765 476925 5349229 3153260 2195969 58928159 ALTERNATIVE INVESTMENT - BUSINESS DEVELOPMENT COMPANY 804266 F ALTERNATIVE INVESTMENT - LIMITED PARTNERSHIP 6363968 F ALTERNATIVE INVESTMENT - REIT 2234208 F 9402442 TUITION CONTRACT RECEIVABLE 10255212 EMPLOYEE RETENTION RECEIVABLE 2050255 12305467 LINE OF CREDIT 3750000 TUITION CONTRACTUAL LIABILITY 10255212 14005212 X 25062981 3537533 40106 3577639 21485342 5912046 5912046 27397388 24483522 35347 35347 24448175 5880059 5880059 30328234 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. PART X, LINE 2: THE SCHOOL 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, 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN ON LIFE INSURANCE POLICY 40,106. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED NET ON THE FINANCIAL STATEMENT 5,739,652. INCOME FROM PARENTS' ASSOCIATION 34,686. INCOME FROM ALUMNI ASSOCIATION 160,705. INCOME FROM TEACHERS APPRECIATION FUND 12,350. FUNDRAISING EXPENSES NETTED WITH REVENUE -35,347. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES NETTED WITH REVENUE 35,347. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID REPORTED NET ON THE FINANCIAL STATEMENT 5,739,652. EXPENSES FROM ALUMNI ASSOCIATION 74,352. EXPENSES FROM PARENTS' ASSOCIATION 40,478. EXPENSES FROM TEACHERS APPRECIATION FUND 25,577. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 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. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 3586033 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 1844284 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES CONFERENCE 68261 0 0 0 0 0 0 5498578 0 5498578 1 0 1 1 1 0 BL BULL ROAST 116479 116479 16526 GOLF OUTING 29936 29936 14607 1 14290 14290 4214 160705 160705 35347 35347 125358 1 STUDENTS RECEIVING FINANCIAL AID 371 5709952 0 STUDENT TRANSPORTATION SUBSIDY 16 29700 0 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 1 0 0 0 0 0 1 0 CHRISTOPHER POST HEADMASTER 410608 0 74653 0 966 0 51075 0 79529 0 616831 0 0 0 SEAN KRIEBEL CFO/ASSISTANT HEADMASTER 193168 0 7500 0 930 0 13339 0 677 0 215614 0 0 0 CRAIG BROOKS ASSOC HEADMASTER FOR DEVELOPMENT 176450 0 0 0 1739 0 10926 0 25718 0 214833 0 0 0 BRIAN MITCHELL DIRECTOR OF ENROLLMENT MANAGEMENT 132730 0 10000 0 293 0 10158 0 26486 0 179667 0 0 0 R BRANDON MOLLETT ACADEMIC DEAN 145554 0 0 0 445 0 10298 0 8520 0 164817 0 0 0 JENNIFER MCDONALD ACCOUNTING MANAGER 127373 0 0 0 1135 0 9309 0 12525 0 150342 0 0 0 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. $26,925 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. A MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY 520936091 2020-01-16 26000000 REFUND EXISTING BONDS AND NEW MONEY 0 0 0 A 1775795 26000000 211000 19519693 6269307 1 0 0 1 A 0 1 0 0 0.00800 0.00800 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 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%. CHRISTOPHER POST HEADMASTER PART OF COMPENSATION PACKAGE X 240000 246304 0 1 1 246304 8000 FINANCIAL AID FINANCIAL AID X 5364 517076 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): REPORTING THE NUMBER OF ITEMS CONTRIBUTED. FORM 990, PAGE 2, PART III, LINE 1 THE BOYS' LATIN SCHOOL OF MARYLAND INSTILLS THE CORE VALUES OF COURAGE, INTEGRITY, AND COMPASSION IN EACH BOY AS EMBODIED IN OUR MOTTO, ESSE QUAM VIDERI - TO BE, RATHER THAN TO SEEM. BY UNDERSTANDING HOW BOYS LEARN BEST, OUR TALENTED FACULTY FOSTERS ENDURING PERSONAL RELATIONSHIPS AND EMPOWERS EACH STUDENT TO STRIVE FOR ACADEMIC AND PERSONAL EXCELLENCE. PHILOSOPHY & PURPOSE -BOYS' LATIN OFFERS A RICH AND RIGOROUS ACADEMIC AND CO-CURRICULAR PROGRAM THAT PREPARES YOUNG MEN FOR THE OPPORTUNITIES OF THE 21ST CENTURY. THE SCHOOL WELCOMES STUDENTS FROM DIVERSE BACKGROUNDS AND EDUCATES THEM IN A SUPPORTIVE, STUDENT-CENTERED ENVIRONMENT. TRAINED IN THE BEST PRACTICES IN BOYS' EDUCATION, FACULTY MEMBERS CRAFT INNOVATIVE PROGRAMS THAT REFLECT THEIR EXPERTISE IN HOW BOYS LEARN AND PROVIDE STUDENTS WITH UNPARALLELED OPPORTUNITIES TO STRETCH AND GROW. A LOW STUDENT-TEACHER RATIO CHALLENGES EACH STUDENT TO REACH HIS MAXIMUM POTENTIAL WHILE ENCOURAGING HIM TO MATURE WITH AN INCREASING SENSE OF SELF-WORTH AND AN AWARENESS OF HIS RESPONSIBILITIES TOWARD HIMSELF AND HIS LOCAL AND GLOBAL COMMUNITY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 INFORMATION WAS PREPARED IN THE FINANCE OFFICE AND REVIEWED BY THE CFO. A COPY WAS PROVIDED TO THE GOVERNING BODY BEFORE IT WAS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANY BOARD MEMBER, OFFICER, OR MEMBER OF ANY COMMITTEE WITH BOARD-DELEGATED POWERS WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST, IS AN "INTERESTED PERSON." IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE AND NATURE OF HIS OR HER FINANCIAL INTEREST TO THE BOARD OF TRUSTEES ("BOARD") AND MEMBERS OF ANY COMMITTEE WITH BOARD-DELEGATED POWERS CONSIDERING THE PROPOSED OR CONTEMPLATED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST, THE INTERESTED PERSON SHALL LEAVE THE BOARD MEETING OR COMMITTEE MEETING WHILE THE FINANCIAL INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF AN ACTUAL CONFLICT OF INTEREST EXISTS. IF THE BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE THAT A BOARD MEMBER, OFFICER OR MEMBER OF A COMMITTEE HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE RESPONSE OF THE MEMBER AND MAKING SUCH FURTHER INVESTIGATION AS MAY BE WARRANTED UNDER THE CIRCUMSTANCES, THE BOARD OR COMMITTEE DETERMINES THAT THE MEMBER HAS IN FACT FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE BOARD OR COMMITTEE SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. 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 FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: PARENTS & ALUMNI ASSOCS ACTIVITY ON THIS RETURN ON A CONSOLIDATED BASIS -67,334. UNREALIZED GAIN ON LIFE INSURANCE POLICY 40,106.