PALM BEACH DAY ACADEMY INC: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- PALM BEACH DAY ACADEMY INC (EIN 59-0873834)
- Tax period
- 2022-07-01 to 2023-06-30
- Filed
- 2024-04-04
- IRS object ID
- 202420959349301237
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule G
- Schedule I
- Schedule J
- Schedule K
- Schedule L
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-04-04T22:41:14-05:00 | ReturnTs |
| Tax Period End | 2023-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 141918990 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TEMPLETON & COMPANY LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 222 LAKEVIEW AVENUE SUITE 1200 | AddressLine1Txt |
| City | WEST PALM BEACH | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 590873834 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PALM BEACH DAY ACADEMY INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | PALM | BusinessNameControlTxt |
| Phone | 5616551188 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 241 SEAVIEW AVENUE | AddressLine1Txt |
| City | PALM BEACH | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33480 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | MICHAEL J MURPHY | PersonNm |
| Person Title | CHIEF FINANCE AND OPERATING OFFICER | PersonTitleTxt |
| Phone | 5616551188 | PhoneNum |
| Signature | 2024-04-04 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | MICHAEL | PersonFirstNm |
| Person Last | MURPHY | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | RICHARD JUBACK | PreparerPersonNm |
| PTIN | P00630706 | PTIN |
| Phone | 5617989988 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | MICHAEL J MURPHY | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 241 SEAVIEW AVENUE | AddressLine1Txt |
| City | PALM BEACH | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33480 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $32,341,302 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.PBDAY.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1975 | FormationYr |
| Legal Domicile State | FL | LegalDomicileStateCd |
| Activity Or Mission | PRIMARY EDUCATION FOR STUDENTS PRE-K THROUGH THE NINTH GRADE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 15 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 15 | VotingMembersIndependentCnt |
| Total Employee | 161 | TotalEmployeeCnt |
| Total Volunteers | 50 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $23,448,309 | PYContributionsGrantsAmt |
| CY Contributions Grants | $11,952,256 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $18,090,854 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $19,338,542 | CYProgramServiceRevenueAmt |
| PY Investment Income | $761,833 | PYInvestmentIncomeAmt |
| CY Investment Income | $523,340 | CYInvestmentIncomeAmt |
| PY Other Revenue | $63,536 | PYOtherRevenueAmt |
| CY Other Revenue | $206,707 | CYOtherRevenueAmt |
| PY Total Revenue | $42,364,532 | PYTotalRevenueAmt |
| CY Total Revenue | $32,020,845 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $2,590,603 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $2,412,176 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $10,333,180 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $11,152,200 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $491,138 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $5,538,718 | PYOtherExpensesAmt |
| CY Other Expenses | $6,131,430 | CYOtherExpensesAmt |
| PY Total Expenses | $18,462,501 | PYTotalExpensesAmt |
| CY Total Expenses | $19,695,806 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $23,902,031 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $12,325,039 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $59,588,306 | TotalAssetsBOYAmt |
| Total Assets EOY | $72,574,153 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $16,643,662 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $16,188,797 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $42,944,644 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $56,385,356 | NetAssetsOrFundBalancesEOYAmt |
| Mission | THE FOUNDATION OF THE PALM BEACH DAY ACADEMY'S PROGRAM IS THE EDUCATION OF OUR STUDENTS IN AN ACADEMICALLY CHALLENGING AND COMPASSION RICH ENVIRONMENT THAT GUIDES EACH CHILD TOWARD PERSONAL EXCELLENCE OF MIND, BODY AND CHARACTER. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $13,505,954 | ExpenseAmt |
| Grant | $2,412,176 | GrantAmt |
| Revenue | $17,943,413 | RevenueAmt |
| Desc | INSTRUCTION-ACCREDITED CLASSROOM INSTRUCTION FOR APPROX. 577 STUDENTS IN PRE-K THROUGH NINTH GRADE. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $489,895 | ExpenseAmt |
| Revenue | $147,142 | RevenueAmt |
| Desc | STUDENT ACTIVITIES-ATHLETICS, ART, DRAMATICS, LABORATORY, TYPING, CULTURAL EVENTS AND TRIPS FOR APPROX. 577 STUDENTS ENROLLED IN PRE-K THROUGH NINTH GRADE. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $410,890 | ExpenseAmt |
| Revenue | $1,375,350 | RevenueAmt |
| Desc | AUXILIARY SERVICES-BUS TRANSPORTATION, TEXTBOOKS, LUNCH & JUICE PROGRAMS PROVIDED TO APPROX. 577 STUDENTS ENROLLED IN PRE-K THROUGH NINTH GRADE. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $14,406,739 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (1) | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | Yes (1) | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | Yes (1) | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 19 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 161 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (1) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (1) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 15 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 15 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MICHAEL J MURPHY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5616551188 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 241 SEAVIEW AVENUE | AddressLine1Txt |
| City | PALM BEACH | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 33480 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| GRANT MASHEK | ||||||||
| PRESIDENT | 5.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| BEN ALEXANDER | ||||||||
| VICE PRESIDENT | 5.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| CHRISTOPHER VECELLIO | ||||||||
| TREASURER | 5.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| JULIANA GENDELMAN | ||||||||
| SECRETARY | 5.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| MARGARET BETTEN | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| MAURA ZISKA CHRISTU | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| CAROLINE FORREST | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| VIRGINIA GALLIGAN | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| BENJI GRISWOLD | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| ANDREA KOSOY | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| CHRISTINA MACFARLAND | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| BRIAN PFEIFLER | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| CAROLINE RAFFERTY | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| TODD SAVAGE | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| WILL MATTHEWS | ||||||||
| BOARD MEMBER | 1.00 | Yes (X) | $0 | $0 | $0 | |||
| MICHAEL J MURPHY | ||||||||
| CHIEF FINANCE AND OPERATING OFFICER | 50.00 | Yes (X) | $129,543 | $0 | $12,542 | |||
| FANNING HEARON | ||||||||
| HEAD OF SCHOOL | 50.00 | $478,315 | $0 | $54,238 | Yes (X) | |||
| MARTHA BJORKLUND | ||||||||
| HEAD OF LOWER SCHOOL | 50.00 | $105,013 | $0 | $19,829 | Yes (X) | |||
| MEGHAN MONTEIRO | ||||||||
| DIRECTOR OF PHILANTHROPHY | 50.00 | $101,587 | $0 | $15,847 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $814,458 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $102,456 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 4 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| FLORIDA BLUE | |||||
| PO BOX 1798 | JACKSONVILLE | FL | 322310014 | HEALTH CARE | $991,189 |
| BOSTON PRIVATE BANK & TRUST COMPANY | |||||
| 450 BOYLSTON ST | BOSTON | MA | 02116 | FINANCIAL SERVICES | $904,792 |
| SAGE DINING SERVICES INC | |||||
| 1402 YORK RD | LUTHERVILLE | MD | 21093 | SCHOOL EVENT SERVICE | $865,015 |
| REGIONS BANK | |||||
| 6149 CHANCELLOR DR STE 700 | ORLANDO | FL | 32809 | FINANCIAL SERVICES | $750,482 |
| IBIS BUILDING CORPORATION | |||||
| 3600 INVESTMENT LANE 1 | WEST PALM BEACH | FL | 33647 | CONSTRUCTION | $338,878 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 18 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $198,533 | FundraisingAmt |
| All Other Contributions | $11,753,723 | AllOtherContributionsAmt |
| Noncash Contributions | $1,238,413 | NoncashContributionsAmt |
| Total Contributions | $11,952,256 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| TUITION AND FEES | 611110 | $17,821,350 | $17,821,350 |
| AUXILIARY SERVICES | 611110 | $1,370,050 | $1,370,050 |
| STUDENT ACTIVITIES | 611110 | $147,142 | $147,142 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $19,338,542 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $754,926 | TotalRevenueColumnAmt |
| Exclusion | $754,926 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $5,300 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $5,300 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,300 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $5,300 | RelatedOrExemptFuncIncomeAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $231,586 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$231,586 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$231,586 | TotalRevenueColumnAmt |
| Exclusion | -$231,586 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $168,215 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $198,533 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $88,871 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $79,344 | TotalRevenueColumnAmt |
| Exclusion | $79,344 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER REVENUE | Desc |
| Business | 611110 | BusinessCd |
| Total Revenue Column | $122,063 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $122,063 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $122,063 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $32,020,845 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $19,465,905 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $602,684 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,412,176 | TotalAmt |
| Program Services | $2,412,176 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,027,205 | TotalAmt |
| Program Services | $709,950 | ProgramServicesAmt |
| Management And General | $317,255 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,707,645 | TotalAmt |
| Program Services | $5,642,231 | ProgramServicesAmt |
| Management And General | $1,816,425 | ManagementAndGeneralAmt |
| Fundraising | $248,989 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $756,486 | TotalAmt |
| Program Services | $528,859 | ProgramServicesAmt |
| Management And General | $204,434 | ManagementAndGeneralAmt |
| Fundraising | $23,193 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,042,879 | TotalAmt |
| Program Services | $876,844 | ProgramServicesAmt |
| Management And General | $148,190 | ManagementAndGeneralAmt |
| Fundraising | $17,845 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $617,985 | TotalAmt |
| Program Services | $464,563 | ProgramServicesAmt |
| Management And General | $135,709 | ManagementAndGeneralAmt |
| Fundraising | $17,713 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $30,124 | TotalAmt |
| Management And General | $30,124 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $95,831 | TotalAmt |
| Management And General | $95,831 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $41,483 | TotalAmt |
| Management And General | $41,483 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $350,753 | TotalAmt |
| Program Services | $194,234 | ProgramServicesAmt |
| Management And General | $156,519 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $68,065 | TotalAmt |
| Management And General | $68,065 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $903,194 | TotalAmt |
| Program Services | $200,177 | ProgramServicesAmt |
| Management And General | $647,656 | ManagementAndGeneralAmt |
| Fundraising | $55,361 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $139,442 | TotalAmt |
| Program Services | $49,243 | ProgramServicesAmt |
| Management And General | $80,440 | ManagementAndGeneralAmt |
| Fundraising | $9,759 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $801,874 | TotalAmt |
| Program Services | $93,156 | ProgramServicesAmt |
| Management And General | $708,718 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,993 | TotalAmt |
| Program Services | $8,485 | ProgramServicesAmt |
| Management And General | $5,874 | ManagementAndGeneralAmt |
| Fundraising | $2,634 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $412,084 | TotalAmt |
| Program Services | $329,667 | ProgramServicesAmt |
| Management And General | $74,175 | ManagementAndGeneralAmt |
| Fundraising | $8,242 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,171,693 | TotalAmt |
| Program Services | $995,939 | ProgramServicesAmt |
| Management And General | $117,169 | ManagementAndGeneralAmt |
| Fundraising | $58,585 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $488,303 | TotalAmt |
| Program Services | $415,058 | ProgramServicesAmt |
| Management And General | $48,830 | ManagementAndGeneralAmt |
| Fundraising | $24,415 | FundraisingAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| LUNCH PROGRAM | $900,785 | $900,785 | ||
| ACADEMIC PROGRAMS | $489,895 | $489,895 | ||
| DUES & SUBSCRIPTIONS | $103,940 | $11,916 | $74,723 | $17,301 |
| PROFESSIONAL DEVELOPMEN | $96,099 | $69,145 | $23,515 | $3,439 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,872 | TotalAmt |
| Program Services | $14,416 | ProgramServicesAmt |
| Management And General | $2,794 | ManagementAndGeneralAmt |
| Fundraising | $3,662 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,695,806 | TotalAmt |
| Program Services | $14,406,739 | ProgramServicesAmt |
| Management And General | $4,797,929 | ManagementAndGeneralAmt |
| Fundraising | $491,138 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,340,702 | BOYAmt |
| EOY | $809,002 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,010,216 | BOYAmt |
| EOY | $10,204,643 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,351,929 | BOYAmt |
| EOY | $14,857,167 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,113 | BOYAmt |
| EOY | $67,844 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,006,331 | BOYAmt |
| EOY | $771,048 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $48,437,776 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $19,473,035 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,473,436 | BOYAmt |
| EOY | $28,964,741 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,357,555 | BOYAmt |
| EOY | $16,868,684 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $31,024 | BOYAmt |
| EOY | $31,024 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $59,588,306 | BOYAmt |
| EOY | $72,574,153 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,503,589 | BOYAmt |
| EOY | $1,164,739 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,015,122 | BOYAmt |
| EOY | $3,391,815 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,764,352 | BOYAmt |
| EOY | $9,415,354 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,360,599 | BOYAmt |
| EOY | $2,216,889 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,643,662 | BOYAmt |
| EOY | $16,188,797 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $40,466,661 | BOYAmt |
| EOY | $52,340,007 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,477,983 | BOYAmt |
| EOY | $4,045,349 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $42,944,644 | BOYAmt |
| EOY | $56,385,356 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $59,588,306 | BOYAmt |
| EOY | $72,574,153 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $12,325,039 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,115,673 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $10,148,403 | BeginningYearBalanceAmt |
| Contributions | $13,026,939 | ContributionsAmt |
| Investment Earnings Or Losses | $1,200,117 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $7,321,303 | OtherExpendituresAmt |
| End Year Balance | $17,054,156 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $4,848,830 | BeginningYearBalanceAmt |
| Contributions | $2,600,000 | ContributionsAmt |
| Investment Earnings Or Losses | -$704,427 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $1,096,000 | OtherExpendituresAmt |
| End Year Balance | $10,148,403 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $4,147,549 | BeginningYearBalanceAmt |
| Contributions | $178,678 | ContributionsAmt |
| Investment Earnings Or Losses | $913,528 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $390,925 | OtherExpendituresAmt |
| End Year Balance | $4,848,830 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $5,022,059 | BeginningYearBalanceAmt |
| Contributions | $893,691 | ContributionsAmt |
| Investment Earnings Or Losses | $61,812 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $1,830,013 | OtherExpendituresAmt |
| End Year Balance | $4,147,549 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $5,899,559 | BeginningYearBalanceAmt |
| Contributions | $547,555 | ContributionsAmt |
| Investment Earnings Or Losses | $183,367 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $1,608,422 | OtherExpendituresAmt |
| End Year Balance | $5,022,059 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 0.76279 | BoardDesignatedBalanceEOYPct |
| Prmnnt Endowment Balance EOY | 0.00000 | PrmnntEndowmentBalanceEOYPct |
| Term Endowment Balance EOY | 0.23721 | TermEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,894,339 | OtherCostOrOtherBasisAmt |
| Book Value | $6,894,339 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $34,478,145 | OtherCostOrOtherBasisAmt |
| Depreciation | $14,637,740 | DepreciationAmt |
| Book Value | $19,840,405 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,337,229 | OtherCostOrOtherBasisAmt |
| Depreciation | $1,712,322 | DepreciationAmt |
| Book Value | $624,907 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $4,728,063 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,122,973 | DepreciationAmt |
| Book Value | $1,605,090 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $28,964,741 | TotalBookValueLandBuildingsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $30,682,859 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $1,115,673 | NetUnrealizedGainsInvstAmt |
| Other Revenue | -$2,453,659 | OtherRevenueAmt |
| Revenue Not Reported | -$1,337,986 | RevenueNotReportedAmt |
| Revenue Subtotal | $32,020,845 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $32,020,845 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $17,242,147 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $17,242,147 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $41,483 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $2,412,176 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $2,453,659 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $19,695,806 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART V, LINE 4: | THE ENDOWMENT FUND WAS CREATED TO ENSURE THE FINANCIAL STABILITY OF THE SCHOOL. THE SCHOOLS FUNDS CONSIST OF DONOR-RESTRICTED FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS AN ENDOWMENT. THE FUNDS ARE DESIGNATED BY THE BOARD OF TRUSTEES TO VARIOUS FUNCTIONS BASED UPON DONOR INTENT. |
| PART X, LINE 2: | THE SCHOOL HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN THE FINANCIAL STATEMENTS. THE SCHOOL IS REQUIRED TO OPERATE IN CONFORMITY WITH THE PROVISIONS OF THE IRC TO MAINTAIN ITS EXEMPT STATUS. MANAGEMENT ANALYZES TAX POSITIONS IN JURISDICTIONS WHERE IT IS REQUIRED TO FILE INCOME TAX RETURNS. BASED ON ITS EVALUATION, MANAGEMENT DID NOT IDENTIFY ANY TAX POSITIONS FOR WHICH IT IS REASONABLY POSSIBLE THAT THE TOTAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS WILL SIGNIFICANTLY INCREASE OR DECREASE. INTEREST AND PENALTIES ATTRIBUTABLE TO INCOME TAXES, IF ANY, ARE INCLUDED IN OPERATING EXPENSES. NO SUCH INTEREST OR PENALTIES WERE RECORDED FOR THE YEARS 2023 OR 2022. THE SCHOOL IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR FISCAL YEARS PRIOR TO 2020. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | SCHOLARSHIPS AND TUITION REMISSION -2,412,176. INVESTMENT FEES -41,483. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIPS AND TUITION REMISSION 2,412,176. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | 0 | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE E, PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | THE PALM BEACH DAY ACADEMY HAS ITS POLICY PRINTED IN THE SCHOOL BROCHURE, WHICH IS SENT WITH THE SCHOOL APPLICATION TO ALL PROSPECTIVE STUDENTS DURING THE REGISTRATION PERIOD. THE ACADEMY ALSO INCLUDES ITS POLICY IN LOCAL ADVERTISEMENTS. | ExplanationTxt |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | GOLF/TENNIS TOURNAMENT | Event1Nm |
| Gross Receipts Event1 | $366,748 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $198,533 | CharitableContriEvent1Amt |
| Gross Revenue Event1 | $168,215 | GrossRevenueEvent1Amt |
| Other Direct Expenses Event1 | $88,871 | OtherDirectExpensesEvent1Amt |
| Gross Receipts Total | $366,748 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $198,533 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $168,215 | GrossRevenueTotalEventsAmt |
| Oth Direct Expnss Total Events | $88,871 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $88,871 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | $79,344 | NetIncomeSummaryAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | SCHOLARSHIPS & TUITION REMISSION | GrantTypeTxt |
| Recipient | 103 | RecipientCnt |
| Non Cash Assistance | $2,412,176 | NonCashAssistanceAmt |
| Valuation Method Used | FMV | ValuationMethodUsedDesc |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | FINANCIAL AID IS AWARDED BASED ON FINANCIAL NEED. FINANCIAL NEED IS DETERMINED FROM A COMPLETED FINANCIAL AID APPLICATION SUBMITTED BY THE FAMILY REQUESTING AID. THE SCHOOL'S FINANCIAL AID COMMITTEE USES A NATIONALLY RECOGNIZED THIRD-PARTY SERVICE TO HELP TO OBJECTIVELY DETERMINE A FAMILY'S ABILITY TO PAY FOR SCHOOL TUITION AND OTHER EDUCATIONAL EXPENSES, BASED ON A PARENTS' FINANCIAL STATEMENT AND ANY ADDITIONAL SUPPORTING DOCUMENTATION FROM THE FAMILY AS MAY BE NEEDED. TUITION REMISSION IS AWARDED TO EMPLOYEES OF THE SCHOOL, HIRED PRIOR TO NOVEMBER 1, 2017, IN A COMBINATION OF POLICY AND NEED BASIS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | Yes (X) | HousingAllowanceOrResidenceInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | 0 | SubstantiationRequiredInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | FANNING HEARON | PersonNm |
| Title | HEAD OF SCHOOL | TitleTxt |
| Base Compensation Filing Org | $361,315 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $57,000 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $60,000 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $45,783 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $8,455 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $532,553 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PALM BEACH COUNTY FLORIDA | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| CUSIP | 000000000 | CUSIPNum |
| Bond Issued | 2021-06-01 | BondIssuedDt |
| Issue Price | $10,331,632 | IssuePriceAmt |
| Purpose | REFUNDING SERIES 2013 BONDS | PurposeDesc |
| Defeased | 0 | DefeasedInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Pool Financing | 0 | PoolFinancingInd |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Total Proceeds | $10,331,632 | TotalProceedsAmt |
| Issuance Costs From Proceeds | $206,632 | IssuanceCostsFromProceedsAmt |
| Other Spent Proceeds | $10,125,000 | OtherSpentProceedsAmt |
| Refunding Tax Exempt Bonds | Yes (1) | RefundingTaxExemptBondsInd |
| Refunding Taxable Bonds | 0 | RefundingTaxableBondsInd |
| Final Allocation Made | Yes (1) | FinalAllocationMadeInd |
| Adequate Books And Rec Maint | Yes (1) | AdequateBooksAndRecMaintInd |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | 0 | OwningBondFinancedPropertyInd |
| Any Lease Arrangements | 0 | AnyLeaseArrangementsInd |
| Mgmt Contract Bond Fincd Prop | 0 | MgmtContractBondFincdPropInd |
| Any Research Agreements | 0 | AnyResearchAgreementsInd |
| Bond Iss Meet Prvt Sec Pymt Test | 0 | BondIssMeetPrvtSecPymtTestInd |
| Change In Use Bond Financed Prop | 0 | ChangeInUseBondFinancedPropInd |
| Procs Nonqualified Bond Remdtd | 0 | ProcsNonqualifiedBondRemdtdInd |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | 0 | Form8038TFiledInd |
| Rebate Not Due Yet | 0 | RebateNotDueYetInd |
| Exception To Rebate | 0 | ExceptionToRebateInd |
| No Rebate Due | 0 | NoRebateDueInd |
| Variable Rate Issue | Yes (1) | VariableRateIssueInd |
| Hedge Identified In Bks And Rec | 0 | HedgeIdentifiedInBksAndRecInd |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGICInd |
| Gross Proceeds Invested | 0 | GrossProceedsInvestedInd |
| Written Proc To Monitor Reqs | Yes (1) | WrittenProcToMonitorReqsInd |
Procedures Corrective Action ProceduresCorrectiveActionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Procedures Corrective Action | Yes (1) | ProceduresCorrectiveActionInd |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BRUCE GENDELMAN INSURANCE SERVICES | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | 35% CONTROLLED ENTITY OF AN INTERESTED PERSON | RelationshipDescriptionTxt |
| Transaction | $201,748 | TransactionAmt |
| Transaction | PAYMENT OF INSURANCE PREMIUMS AND INSURANCE AGENCY COMMISSIONS. | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 5 | ContributionCnt |
| Noncash Contributions Rpt F990 | $438,486 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FAIR MARKET VALUE | MethodOfDeterminingRevenuesTxt |
Real Estate Residential RealEstateResidentialGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 1 | ContributionCnt |
| Noncash Contributions Rpt F990 | $799,927 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FAIR MARKET VALUE | MethodOfDeterminingRevenuesTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | 0 | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | 0 | ThirdPartiesUsedInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | THE BOARD HAS AUTHORIZED THE AUDIT COMMITTEE TO REVIEW AND APPROVE THE FORM 990. A COPY OF THE APPROVED FORM 990 IS DISTRIBUTED TO ALL BOARD MEMBERS. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CONFLICT OF INTEREST POLICY IS ANNUALLY DISCLOSED BY THE BOARD OF TRUSTEES. THE BOARD REVIEWS THE CONFLICT OF INTEREST POLICY AND MONITORS THE POLICY TO ENSURE COMPLIANCE. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE HEAD OF SCHOOLS SALARY IS SET BY THE BOARD OF TRUSTEES UPON RECOMMENDATIONS FROM THE EXECUTIVE COMMITTEE. A THOUGHTFUL PROCESS, INCLUDING PERIODIC COMPARABILITY STUDIES ARE PERFORMED BY THE COMMITTEE. THE BOARD OF TRUSTEES APPROVES THE COMMITTEES RECOMMENDATIONS. THE HEAD OF SCHOOL MAKES A RECOMMENDATION FOR THE SALARY OF THE DIRECTOR OF FINANCE AND OPERATIONS BASED ON COMPARABLE COMPENSATION DATA FOR SIMILARLY QUALIFIED PERSONS AND IS APPROVED IN THE BUDGET BY THE FINANCE COMMITTEE AND BOARD OF TRUSTEES. THIS PROCESS IS COMPLETED ANNUALLY. |
| FORM 990, PART VI, SECTION C, LINE 19 | UPON WRITTEN REQUEST. |