2024-05-09T08:53:59-05:00 2023-06-30 520982413 GROSS MENDELSOHN & ASSOCIATES PA 1801 PORTER STREET SUITE 500 BALTIMORE MD 21230 990 2022-07-01 311480308 THE FREVEN FOUNDATION CHARITABLE TRUST FREV 4105681605 10706 BEAVER DAM ROAD COCKEYSVILLE MD 21030 PAUL O WALLACE TRUSTEE 4105681605 2024-05-09 1 PAUL WALLACE XXX-XX-XXXX 1 SCOTT HANDWERGER P00519238 4106855512 2024-05-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z 10706 BEAVER DAM ROAD COCKEYSVILLE MD 21030 2237640 0 1 X N/A X 1996 MD TO SUPPORT GERSTELL ACADEMY, INC. 9 6 0 0 0 0 6810323 0 0 0 2087646 354674 10185 10185 8908154 364859 0 0 0 0 0 0 0 0 0 1537502 1541635 1537502 1541635 7370652 -1176776 47265031 48221578 4650606 4476130 42614425 43745448 TO SUPPORT GERSTELL ACADEMY, INC. 0 0 1406033 TO SUPPORT GERSTELL ACADEMY, INC. 1406033 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 6 1 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 0 0 0 MD X X FREVEN FOUNDATION CHAR TRUST 4105681605 10706 BEAVER DAM RD COCKEYSVILLE MD 21030 X DR FREDERICK G SMITH TRUSTEE 2.00 X 0 0 0 DR VENICE K PATERAKIS TRUSTEE 0.00 X 0 0 0 DR RICHARD J NESSIF TRUSTEE 0.00 X 0 0 0 PAUL O WALLACE TRUSTEE 0.00 X 0 0 0 JANE NESSIF TRUSTEE 0.00 X 0 0 0 STEVE KRULEVITZ TRUSTEE 0.00 X 0 0 0 ANNE KRULEVITZ TRUSTEE 0.00 X 0 0 0 THOMAS ZIZOS TRUSTEE 0.00 X 0 0 0 NIKKI ZIZOS TRUSTEE 0.00 X 0 0 0 0 0 0 0 0 0 0 0 568240 568240 1659215 1872781 -213566 -213566 -213566 MISC REVENUE 900099 10185 10185 10185 364859 -203381 0 568240 22654 22654 29454 29454 185713 175499 10214 1149306 1086094 63212 REPAIRS & MAINTENANCE 141275 133505 7770 PROPERTY TAXES 9918 9373 545 MISCELLANEOUS 1653 1562 91 TAXES GENERAL 833 833 829 829 1541635 1406033 135602 0 223623 772595 48786139 20992378 28940467 27793761 18012477 19566758 88464 88464 47265031 48221578 18663 7469 4280696 4462973 351247 5688 4650606 4476130 X 42614425 43745448 42614425 43745448 47265031 48221578 X -1176776 2307801 -2 X X 0 0 0 X X 1 GERSTELL ACADEMY INC 311620693 2 1 1406032 0 1 1406032 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 X 1 1 PART IV, SECTION D, LINE 3: GERSTELL, THE SOLE SUPPORTED ORGANIZATION OF THE FOUNDATION, HAS THE RIGHT TO APPOINT ONE (1) BOARD MEMBER OF THE FOUNDATION. ALSO, FREDERICK SMITH AND VENICE PATERAKIS ARE OFFICERS OF BOTH GERSTELL AND THE FOUNDATION, AND AS SUCH, ARE IN ONGOING CONTACT WITH THE MEMBERS OF THE FOUNDATION'S FINANCE COMMITTEE REGARDING THE INVESTMENTS OF THE FOUNDATION, AND THE IMMEDIATE AND LONGER TERM FINANCIAL NEEDS OF GERSTELL. BY HOLDING INTERLOCKING FIDUCIARY ROLES IN EACH OF THESE ORGANIZATIONS, DETAILED INFORMATION REGARDING THE OPERATION OF THE FOUNDATION IS MADE AVAILABLE TO GERSTELL, AND THIS CONTINUOUS AND CONSISTENT INTERACTION IS MISSION CRITICAL TO BOTH THE FOUNDATION AND GERSTELL. PART IV, SECTION E, LINE 2A: ALL OF THE ACTIVITIES OF THE FOUNDATION DIRECTLY FURTHER THE EXEMPT PURPOSES OF GERSTELL BECAUSE THE FOUNDATION'S ACTIVITIES CONSIST OF ACQUIRING, DEVELOPING, HOLDING, RENOVATING, MAINTAINING, AND EXPANDING THE GERSTELL CAMPUS. THIS CAMPUS IS USED SOLELY BY GERSTELL IN OPERATING THE SCHOOL PURSUANT TO A LEASE AGREEMENT FOR NOMINAL RENT IN CARRYING OUT ITS EXEMPT FUNCTION. SUBSTANTIALLY ALL OF THF FOUNDATION'S ASSETS CONSIST OF THE GERSTELL CAMPUS. IN ADDITION, INVESTMENTS HELD BY THE FOUNDATION IN EXCESS OF THE VALUE OF THE GERSTELL CAMPUS SERVE VARIOUS PURPOSES - AS A WORKING CAPITAL RESERVE FOR IMPROVEMENTS AND MAINTENANCE DUE TO DEPRECIATION AND ANY ADDITIONAL EXPANSION OF THE GERSTELL CAMPUS, PROMOTING THE ISSUANCE OF TAX-EXEMPT BONDS FOR THE INITIAL CONSTRUCTION AND MAINTENANCE OF ITS CREDIT RATING FOR THAT PURPOSE, AND PROVIDING GERSTELL WITH THE COMFORT THAT IT CAN CONTINUE TO FUNCTION AND MAINTAIN ITS CAMPUS EVEN IF ENROLLMENT DECLINES OR RENOVATIONS AND/OR IMPROVEMENTS ARE NEEDED. PART IV, SECTION E, LINE 2B: THE FOUNDATION DEVELOPED AND OWNS THE GERSTELL CAMPUS. WITHOUT THIS CAMPUS, GERSTELL COULD NOT PERFORM ITS TAX-EXEMPT FUNCTION AS A SCHOOL. BUT FOR THE INVOLVEMENT OF THE FOUNDATION, ACTIVITIES SUCH AS ACQUIRING, DEVELOPING, RENOVATING, MAINTAINING, AND EXPANDING THE GERSTELL CAMPUS, WOULD NORMALLY BE ENGAGED IN BY GERSTELL IN PERFORMING ITS TAX-EXEMPT FUNCTION. 3312839 3312839 39906691 15778263 24128428 4852177 4610605 241572 386276 365258 21018 328156 238252 89904 27793761 COMMON STOCK 5836721 F CORPORATE FIXED INCOME BOND & TRUST 7965 F MUTUAL FUNDS 13651704 F OTHER INVESTMENTS 128 F LIMITED PARTNERSHIPS 70240 F 19566758 DUE TO GERSTELL ACADEMY 118833 PROMISSORY NOTE TO GERSTELL ACADEMY -113145 5688 X PART X, LINE 2: THE TRUST IS A NOT-FOR-PROFIT CHARITABLE TRUST GENERALLY EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS "OTHER THAN A PRIVATE FOUNDATION." THE FOUNDATION, A LIMITED LIABILITY COMPANY WHOLLY OWNED BY THE TRUST, IS TREATED AS A DISREGARDED ENTITY FOR INCOME TAX PURPOSES. THE ORGANIZATION'S FEDERAL EXEMPT TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR A PERIOD OF THREE YEARS AFTER THE RETURNS ARE FILED. THE ORGANIZATION HAS NO UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED JUNE 30, 2023. PAUL O WALLACEGROSS MENDELSOHN ACCOUNTANT 22654 PROFESSIONAL SERVICES 0 FORM 990, PART VI, SECTION A, LINE 2 LINE 2 EXPLANATION - DR. FREDERICK G. SMITH AND DR. VENICE K. PATERAKIS ARE SPOUSES. DR. RICHARD J. NESSIF AND JANE NESSIF ARE SPOUSES. STEVE KRULEVITZ AND ANNE KRULEVITZ ARE SPOUSES. THOMAS ZIZOS AND NIKKI ZIZOS ARE SPOUSES. PAUL O WALLACE OF GROSS MENDELSOHN IS A MEMBER OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B LINE 11A EXPLANATION - SELECTED BOARD MEMBERS REVIEW THE RETURN PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C REVIEW OF THE POLICY AND POTENTIAL CONFLICTS AND DISCLOSURE OF SUCH CONFLICTS ARE REVIEWED AT THE ANNUAL BOARD OF DIRECTORS MEETING. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION USES GUIDESTAR TO MAKE VARIOUS DOCUMENTS AND POLICIES AVAILABLE TO THE PUBLIC, AS WELL AS RESPONDING TO WRITTEN REQUEST. FORM 990, PART XI, LINE 9: ROUNDING -2. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR FREVEN FOUNDATION LLC 10706 BEAVER DAM ROAD COCKEYSVILLE MD 21030 522157531 OWNS REAL ESTATE MD 10186 27864820 N/A GERSTELL ACADEMY INC 10706 BEAVER DAM ROAD COCKEYSVILLE MD 21030 311620693 SCHOOL MD 501(C)(3) LINE_2_SCHOOL_DESCRI N/A 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 GERSTELL ACADEMY INC N 1237386 95% OF BUILDING EXPENSE GERSTELL ACADEMY INC D 3436 INTEREST PAID RELATED TO NOTE GERSTELL ACADEMY INC R 350000 ACCOUNT REGISTER GERSTELL ACADEMY INC S 1005 ACCOUNT REGISTER