2022-11-15T08:19:27-06:00 2022-06-30 SMITH & HOWARD PC 271 17TH STREET NW SUITE 1600 ATLANTA GA 30363 990 2021-07-01 581970181 THE ALFRED AND ADELE DAVIS ACADEMY INC % KIM RICH ALFR 7706710085 8105 ROBERTS DRIVE ATLANTA GA 30350 AMY SHAFRON HEAD OF SCHOOL 7706710085 2022-11-15 true AMY SHAFRON 999009999 SABRE J LINAHAN P01372980 4048746244 2022-11-15 3 2021 2022-09-23 18:48:47Z AMY SHAFRON 8105 ROBERTS DRIVE ATLANTA GA 30350 33135850 false X WWW.DAVISACADEMY.ORG X 1992 GA TO PROVIDE AN ACADEMICALLY CHALLENGING ENVIRONMENT WITH ENRICHED CURRICULA, INTEGRATING GENERAL ACADEMICS AND JUDAIC STUDIES FROM MECHINA KINDERGARTEN PREP THROUGH EIGHTH GRADE. 35 34 133 80 0 3343531 2982381 13190459 13012005 2011208 2758397 -30303 -44842 18514895 18707941 2104111 1995725 0 0 7770172 7164302 0 0 573488 4254273 4882041 14128556 14042068 4386339 4665873 64823624 60440379 12348503 11487097 52475121 48953282 X TO PROVIDE AN ACADEMICALLY CHALLENGING ENVIRONMENT WITH ENRICHED CURRICULA, INTEGRATING GENERAL ACADEMICS AND JUDAIC STUDIES FROM MECHINA KINDERGARTEN PREP THROUGH EIGHTH GRADE IN A NURTURING, SECURE ENVIRONMENT, INSTRUCTED BY A FACULTY DEDICATED TO EXCELLENCE, CHILDREN ARE ENCOURAGED TO REACH THEIR HIGHEST POTENTIAL. THE DAVIS ACADEMY STRIVES TO CREATE A COMMUNITY IN WHICH CHILDREN DEVELOP A LIFE-LONG LOVE FOR LEARNING AND A COMMITMENT TO JEWISH LIFE FOUNDED ON MORALS, VALUES, AND ETHICS, GROUNDED IN TORAH. false false 10146640 1995725 13012215 THE CORPORATION OPERATED AS A NON-PROFIT PRE-K THROUGH EIGHTH GRADE PRIVATE SCHOOL WITH 489 STUDENTS IN ATTENDANCE. 10146640 true true false false false false false false false true true false false false true true true false true false true false false false true false false false true true true false false false false false false false false true false true false false false false false false false false true 34 0 true 133 true false false false false false true true false false false false false false X 35 34 true false false false false false false true true false false true true true true true true true true false GA X KIM RICH 7706710085 8105 ROBERTS DRIVE ATLANTA GA 30350 X Amy Shafron Head of School 40.0 0.0 X 387361 0 37353 Drew Frank Principal/Associate Head of Sc 40.0 0.0 X 205913 0 37350 Kim Rich Chief Financial Officer 40.0 0.0 X 176506 0 13166 Jeffrey Rothstein Assistant Principal 40.0 0.0 X 146729 0 41725 Micah Lapidus School Rabbi/Director of Jewi 40.0 0.0 X 146665 0 32392 Elisa Prager Director of Institutional Adva 40.0 0.0 X 147081 0 14744 Karl Altmann Director 1.0 0.0 X 0 0 0 Abby Bechler-Karsch Director 1.0 0.0 X 0 0 0 Mara Berman Director 1.0 0.0 X 0 0 0 Dana Bernath Director 1.0 0.0 X 0 0 0 Barbie Bregen Director 1.0 0.0 X 0 0 0 Scott Bohrer Director 1.0 0.0 X 0 0 0 Steven Cohen Director 1.0 0.0 X 0 0 0 Ann Davis Director 1.0 0.0 X 0 0 0 Elizabeth Davis Director 1.0 0.0 X 0 0 0 Mark Edelstein Vice President 1.0 0.0 X 0 0 0 Russell Falkenstein Director 1.0 0.0 X 0 0 0 Vanessa Frank Director 1.0 0.0 X 0 0 0 Lisa Freedman President 1.0 0.0 X 0 0 0 Julia Galanti Director 1.0 0.0 X 0 0 0 David Goldberg Director 1.0 0.0 X 0 0 0 Micah Goldstein Vice President 1.0 0.0 X 0 0 0 Billie Greenberg Past President 1.0 0.0 X 0 0 0 Lisa Haynor Secretary 1.0 0.0 X 0 0 0 Jeff Hopkins Director 1.0 0.0 X 0 0 0 Bennett Kaplan Director 1.0 0.0 X 0 0 0 Hope Kaufman Director 1.0 0.0 X 0 0 0 Jami Kohn Director 1.0 0.0 X 0 0 0 Debbie Kurzweil Past President 1.0 0.0 X 0 0 0 Jon Leven Past President 1.0 0.0 X 0 0 0 Kevin Levingston Treasurer 1.0 0.0 X 0 0 0 Brian Mand Vice President 1.0 0.0 X 0 0 0 Bobbi Perlstein Director 1.0 0.0 X 0 0 0 Josh Perlstein Director 1.0 0.0 X 0 0 0 Michelle Rosenberg Director 1.0 0.0 X 0 0 0 Stacey Rothberg Director 1.0 0.0 X 0 0 0 Bill Rothschild Director 1.0 0.0 X 0 0 0 Carol Rubin Director 1.0 0.0 X 0 0 0 Linda Selig Director 1.0 0.0 X 0 0 0 Stanley Sonenshine Director 1.0 0.0 X 0 0 0 Jason Tessler Director 1.0 0.0 X 0 0 0 Evan Toporek Past President 1.0 0.0 X 0 0 0 Sam Tuck Past President 1.0 0.0 X 0 0 0 Dean Benamy Past President 1.0 0.0 X 0 0 0 Dulcy Davis Rosenberg Trustee for Life 1.0 0.0 X 0 0 0 Jay Davis Trustee for Life 1.0 0.0 X 0 0 0 Jan Epstein Past President 1.0 0.0 X 0 0 0 Bryan Fields Past President 1.0 0.0 X 0 0 0 Sidney Kirschner Trustee for Life 1.0 0.0 X 0 0 0 Carol Nemo Past President 1.0 0.0 X 0 0 0 Tonia Sellers Past President 1.0 0.0 X 0 0 0 Ben Sillins Past President 1.0 0.0 X 0 0 0 Harriet Zoller Past President 1.0 0.0 X 0 0 0 William Breman zl Trustee for Life 1.0 0.0 X 0 0 0 1210255 0 176730 6 false true false SAGE DINING SERVICES INC 3687 MCELROY RD ATLANTA GA 30340 FOOD SERVICE 555660 CLEANSTAR NATIONAL INC 540 COLLINS RD MARIETTA GA 30066 JANITORIAL 280979 2 385786 1331778 1264817 51902 2982381 TUITION AND FEES 13004901 13004901 MISC PROGRAM SERVICE REVENUE 7104 7104 13012005 1139896 1139896 0 0 54868 63113 -8245 0 -8245 -8245 15846420 210 14228129 0 1618291 210 1618501 210 1618291 100070 385786 136667 -36597 -36597 0 0 0 0 0 0 0 18707941 13012215 2713345 0 1995725 1995725 0 0 744440 616158 128282 0 5416333 4413192 761273 241868 188782 188782 387944 277626 91410 18908 426803 299872 110496 16435 0 10323 10323 164419 164419 0 0 210532 210532 0 79486 55913 23573 155949 88154 54812 12983 110281 27896 82385 0 238995 166991 62852 9152 0 0 0 148468 104314 38437 5717 0 1140112 801044 295166 43902 175835 115974 53505 6356 PROGRAM EXPENSES 837326 837326 DINING SERVICES 536337 376833 138854 20650 REPAIRS & MAINTENANCE 499469 395271 82535 21663 CLEANING SERVICE CONTRACT 309151 217210 80037 11904 265358 29212 224051 12095 14042068 10146640 3321940 573488 X 4002219 5197511 13697099 11968775 883059 593614 119477 1359134 0 0 0 0 0 0 0 0 213376 275902 35557835 17012476 19530680 18545359 14772598 20183100 11494560 2222221 0 0 110556 94763 0 0 64823624 60440379 847281 999970 0 0 5347271 5146114 5440008 4720008 0 0 0 0 0 0 0 0 713943 621005 12348503 11487097 X 47735427 46099617 4739694 2853665 52475121 48953282 64823624 60440379 4665873 -8187712 X X false true X true false X 1600742 1215163 1168494 3343531 2982381 10310311 0 0 1600742 1215163 1168494 3343531 2982381 10310311 1884043 8426268 707899 887106 659005 551097 1194764 3999871 0 0 14310182 63802416 0.58883 0.60802 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11092701 1431 -361750 55288 10677094 8823617 133681 2186008 50605 11092701 8832137 128326 -91096 45750 8823617 8426517 112551 340248 47179 8832137 7783221 237481 452511 46696 8426517 0.73270 0.17920 0.08810 false false 2226200 2226200 27880023 12470167 15409856 2959185 2363717 595468 2492425 2178590 313835 18545359 0 TAXABLE BOND PAYABLE 621005 621005 X 8409133 -8187712 95161 -8092551 16501684 210532 1995725 2206257 18707941 11930972 95161 95161 11835811 210532 1995725 2206257 14042068 Schedule D, Part V, Line 4 Endowment assets include those assets of donor restricted funds the the academy must hold in perpetuity or for a donor-specified period(s) as well as board-designated funds. The Academy's endowments are invested in pooled funds. As of January 2022, all funds are held at Wells Fargo; prior to this time, the Jewish Federation of greater Atlanta ("JFGA") held the Academy's funds. The Academy adopted its investment policy for the endowment accounts using a moderate investment model provided by JFGA. JFGA's investment objective is to earn a long-term rate of return that is approximately 4.5% greater than the rate of inflation as measured by the CPI. The investment policy's risk parameters minimize downside volatility while maximizing return at an acceptable risk level through diversification of assets. The investment policy also contains specifications as to which types of investments will be permitted. The Academy has adopted a spending policy under which spending of income earned by the unrestricted endowment accounts is discretionary, based on the needs of the Academy and the approval of the Academy's Board of Trustees. Endowment funds created through restricted gifts from donors are to be managed according to the wishes of the donors. However, only up to 3% of annual gains will be distributed. Unless otherwise stipulated by the donors, all principal is to be kept intact, and only the earnings are to be used for the restricted purpose of the fund. The Academy considers a fund to be underwater if the fair value of the fund is less than the sum of (a) the original value of initial and subsequent gift amounts donated to the fund and (b) any accumulations to the fund that are required to be maintained in perpetuity in accordance with the direction of the applicable donor gift instrument. The Academy has complied with UPMIFA to permit spending from an underwater endowment. Schedule D, Part X, Line 2 The Academy qualifies as a tax-exempt organization under Section 501(3) of the Internal Revenue Code and, therefore, has no provision for income taxes. However, income from certain activities not directly related to the Academy's tax exempt purpose is subject to taxation as unrelated business income. During the years ended June 30, 2022 and 2021, the Academy incurred no income tax expense related to unrelated business income. The Academy qualifies for the charitable contribution deduction under Section 170(b)(1)(A) and has been classified as an organization that is not a private foundation under Section 509(a)(2). The Academy annually evaluates all federal and state income tax positions. This process includes an analysis of whether these income tax positions the Academy takes meet the definition of an uncertain tax position under the Income Taxes Topic of the Financial Accounting Standards Codification. In the normal course of business, the Academy is subject to examination by the federal and state taxing authorities. In general, the Academy is no longer subject to tax examinations for tax years ending before June 30, 2019. Schedule D, Part XI, Line 2D $63,113 + Direct Rental Expenses $32,048 + Fundraising Expenses -------------------------------- $95,161 = Schedule D, Part XI, Line 4B Tuition Assistance: $1,995,725 Schedule D, Part XII, Line 2D $63,113 + Direct Rental Expenses $32,048 + Fundraising Expenses -------------------------------- $95,161 = Schedule D, Part XII, Line 4B Tuition Assistance: $1,995,725 true true true true true true true false false false false false false false false false false true Sch E Part 1, Line 3 Policy is publicized on application materials which is provided along with an information package for all interested parties. Middle East and North Africa Program Services 8th Grade Trip 57977 57977 57977 false false false false false false GOLF TOURNAMENT 244883 201258 43625 32347 12964 20052 GOLF TOURNAMENT 240973 184528 56445 41416 14790 15098 0 485856 385786 100070 73763 27754 35150 136667 -36597 true Financial Assistance as Reduction in Tuition 197 1208225 Amount of Tuition Reduction in Tuition Financial Aid for Students 117 725539 Cash COVID-19 RELIEF 12 61961 Amount of Tuition Reduction in Tuition Part I, Line 2 Financial aid is need based. Each applicant fills out a standard form annually awards are decided annually by a committee of the board. X false false false false false false false true false Drew Frank Principal/Associate Head of Sc 176635 15000 14278 8864 28906 243683 Micah Lapidus School Rabbi/Director of Jewi 120530 26135 6257 26555 179477 Elisa Prager Director of Institutional Adva 147081 6842 8322 162245 Jeffrey Rothstein Assistant Principal 118761 27968 6215 35918 188862 Amy Shafron Head of School 347361 40000 14500 25633 427494 Kim Rich Chief Financial Officer 176506 3555 10031 190092 Part 1, Line 7 Bonus payments are paid annually based on performance. A City of Sandy Springs Development Authority 261580939 000000000 2013-06-20 10590000 To Refinance the Cost of Acquiring false false false A 5869992 0 10590000 0 0 0 0 0 0 0 0 0 true false true true A false false false false 0 false false false true A false true false false false false 0 false 0 false true A true Part I, Column F To refinance the cost of acquiring, constructing, renovating, and installing. Part IV, Line 2c The Rebate Computation date is N/A jill rosenbluth Family Member of Billie Greenberg (Board Member) 51635 COMPENSATION false X 4 51902 fmv false true true PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. PART I, LINE 32A: THE ACADEMY USES ITS BROKER TO LIQUIDATE STOCK DONATIONS TO CASH IMMEDIATELY UPON RECEIPT. Form 990, Part VI, Section A, Question 2 Jay Davis and Ann Davis both serve as board members on The Alfred and Adele Davis Academy, Inc. and they are married. Dulcy Rosenberg is a board member of the Academy. Michelle Rosenberg is the daughter of Dulcy and serves as a member of the board. Bobbi Perlstein is a board member of the Academy. Josh Perlstein is the son of Bobbi and serves as a member of the board. Form 990, Part VI, Section B, Line 11 The Head of School and CFO review the return in detail prior to filing and a copy of the return is available for all board members to review as requested. Form 990, Part VI, Section B, Line 12C The organization has board members and officers read and sign an acknowledgement that they have read the policies and procedures and that no conflicts exist. Should conflicts arise, the issues are discussed and resolved by an independent committee of the board. Form 990, Part VI, Section B, Line 15 CEO COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS, CFO COMPENSATION BY CEO IN CONSULTATION WITH THE BOARD OF DIRECTORS, AND KEY EMPLOYEE COMPENSATION DETERMINED BY THE CEO AND CFO IN CONSULTATION WITH THE BOARD OF DIRECTORS. Form 990, Part VI, Section C, Line 18 THESE ITEMS ARE MADE AVAILABLE AT THE ORGANIZATION OFFICES UPON REQUEST. Form 990, Part VI, Section C, Line 19 Available upon request. Form 990, Part XII, Line 2C AUDIT COMMITTEE MEETS ANNUALLY WITH AUDITORS, REVIEWS FINANCIAL STATEMENTS, MAKES ANY RECOMMENDATIONS NECESSARY TO BOARD, AND THE BOARD VOTES TO ACCEPT AUDIT AND/OR APPROVES AUDIT COMMITTEE RECOMMENDATIONS.