2021-05-17T11:40:24-05:00 2020-06-30 341912961 COHEN & COMPANY LTD OFFICES LISTED AT WWWCOHENCPACOM OH 44115 990 2019-07-01 381359080 THE GROSSE POINTE ACADEMY GROS 3138861221 171 LAKE SHORE ROAD GROSSE POINTE FARMS MI 48236 THOMAS W ADAMS HEAD OF SCHOOL 3138861221 2021-05-17 1 CATHLEEN S LORENZ P00063640 8002291099 2021-05-13 2019 2022-09-23 18:48:47Z ANDREA SOAVE PROVENZANO 171 LAKE SHORE ROAD GROSSE POINTE FARMS MI 48236 6763150 0 X WWW.GPACADEMY.ORG X 1969 MI THE GROSSE POINTE ACADEMY IS AN INDEPENDENT, COEDUCATIONAL DAY SCHOOL SERVING CHILDREN IN EARLY SCHOOL THROUGH GRADE EIGHT. THE ACADEMY IS A CHRISTIAN BASED SCHOOL THAT EMBRACES STUDENTS FROM ALL RELIGIONS. 14 14 93 100 6821 0 1127000 1947459 3637981 3785898 25827 184614 8126 9671 4798934 5927642 550675 600300 0 0 2761701 2778780 0 0 299551 1742902 1815408 5055278 5194488 -256344 733154 16266733 17496231 6162119 6449138 10104614 11047093 X THE MISSION OF THE GROSSE POINTE ACADEMY IS TO NURTURE THE POTENTIAL OF EACH CHILD, ALLOWING STUDENTS TO DISCOVER THEIR UNIQUE STRENGTHS AND PASSIONS IN AN ENVIRONMENT FRAMED BY CHRISTIAN VALUES. WE CHALLENGE STUDENTS TO ACHIEVE EXCELLENCE IN ACADEMICS, CHARACTER, ATHLETICS, AND THE ARTS. WE INSPIRE STUDENTS TO ACQUIRE SKILLS REQUIRED FOR THEIR FUTURE SUCCESS AND TO DEVELOP THE CONFIDENCE TO COMMUNICATE, CONTRIBUTE, AND LEAD. 0 0 3751376 600300 3830283 AN INDEPENDENT EDUCATIONAL INSTITUTION THAT PROVIDES AN ENVIRONMENT OF LEARNING FOR STUDENTS IN GRADES PRESCHOOL THROUGH EIGHT OF VARIOUS SOCIAL, ECONOMIC, RELIGIOUS, AND CULTURAL BACKGROUNDS. 3751376 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 46 0 1 93 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 14 14 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MI X THOMAS W ADAMS 3138861221 171 LAKE SHORE ROAD GROSSE POINTE FARMS MI 48236 X AMY TOMLINSON TRUSTEE 5.00 X 0 0 0 ANDREA PROVENZANO PRESIDENT 5.00 X X 0 0 0 BETH BOJI KELLY TRUSTEE 5.00 X 0 0 0 BRIDGET BEARSS RSCJ TRUSTEE 5.00 X 0 0 0 CAROLE J PEABODY TRUSTEE 5.00 X 0 0 0 CHARLES TOURANGEAU TREASURER 5.00 X X 0 0 0 DR MELANIE DARKE MEMBER AT LARGE 5.00 X 0 0 0 DR PETER DONALDSON SECRETARY 5.00 X X 0 0 0 HALI H GIESSLER TRUSTEE 5.00 X 0 0 0 KATE PEABODY TRUSTEE 5.00 X 0 0 0 MEGAN STOOKE TRUSTEE 5.00 X 0 0 0 MARITA S GROBBEL TRUSTEE 5.00 X 0 0 0 T HART MECKE III VICE-PRESIDENT 5.00 X X 0 0 0 BOB RAHAIM TRUSTEE 5.00 X 0 0 0 THOMAS ADAMS HEAD OF SCHOOL - EX-OFFICI 40.00 X 188113 0 35012 188113 0 35012 1 0 1 0 FH MARTIN CONSTRUCTORS 28740 MOUND RD WARREN MI 48092 GENERAL CONTRACTOR 443687 THE COURTSMITHS 4694 BANCROFT ST TOLEDO MI 43615 TENNIS COURT CONSTRUCTION COMPANY 200000 PLUM MARKET FOOD SERVICE LLC 30777 NORTHWESTERN HWY SUITE 301 FARMINGTON HILLS MI 48334 FOOD SERVICE PROVIDER 159999 3 X 50671 390850 1505938 50671 1947459 TUITION & FEES 611710 3631435 3631435 STUDENT SUPPORT SERVIC 611710 154463 154463 3785898 143079 143079 56450 49629 6821 6821 6821 827414 785879 41535 41535 41535 0 50671 0 0 MISCELLANEOUS INCOME 900099 2850 2850 2850 5927642 3830283 6821 143079 600300 600300 188113 129628 47741 10744 2121073 1461625 538302 121146 40784 28105 10350 2329 263954 206502 39267 18185 164856 117709 38047 9100 7543 1833 4765 945 38270 9303 24174 4793 294928 71693 186301 36934 37231 9051 23518 4662 223744 193706 21006 9032 357711 283493 56461 17757 95168 75873 14461 4834 181565 145252 21788 14525 444326 354011 54189 36126 84389 63292 12658 8439 BAD DEBT EXPENSE 50533 0 50533 0 5194488 3751376 1143561 299551 4437 428001 368165 975928 500 5500 116756 116803 73480 51228 18661320 9064967 9060642 9596353 6642753 6271747 0 50671 16266733 17496231 319155 160006 303143 727005 5525155 5537521 14666 24606 6162119 6449138 X 7340653 7851692 2763961 3195401 10104614 11047093 16266733 17496231 733154 209325 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1244647 65182 6000 52710 1251119 1376712 -77348 54717 1244647 1371178 61587 56053 1376712 1354167 186305 169294 1371178 1429448 -17911 57370 1354167 0.48000 0.52000 1 0 200000 200000 16360361 8026706 8333655 1167250 1038261 128989 933709 933709 9596353 X 5586296 209325 49629 258954 5327342 600300 600300 5927642 4643817 49629 49629 4594188 600300 600300 5194488 PART V, LINE 4: THE ACADEMY'S ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. EARNINGS FROM GENERAL ENDOWMENT FUNDS ARE USED TO FUND SCHOOL OPERATIONS. EARNINGS FROM THE ENDOWMENT SCHOLARSHIP FUND ARE USED TO FUND SCHOLARSHIPS AND FINANCIAL ASSISTANCE. PART X, LINE 2: THE ACADEMY ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH GAAP, WHICH REQUIRE RECOGNITION OF AND DISCLOSURE RELATED TO UNCERTAIN TAX POSITIONS. AS OF AND DURING THE YEAR ENDED JUNE 30, 2020, THE ACADEMY DID NOT HAVE A LIABILITY FOR UNRECOGNIZED TAX BENEFITS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED WITH RENTAL INCOME 49,629. PART XI, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID 600,300. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED WITH RENTAL INCOME 49,629. PART XII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID 600,300. 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 ACADEMY PROVIDES A STATEMENT IN ALL BROCHURES AND ADS FOR ADMISSIONS/OPEN HOUSE INVITATIONS TO THE PUBLIC. AN ANNUAL NOTICE IS PLACED IN THE DETROIT FREE PRESS NEWSPAPER. THE GROSSE POINTE ACADEMY IS COMMITTED TO A DIVERSE POPULATION. ACTION AUCTION 50671 50671 50671 50671 1 TUITION REMISSION 16 171970 FMV 65% DISCOUNT ON EACH STUDENT. FINANCIAL AID 45 332215 FMV THIRD PARTY (FACTS) RECOMMENDATION. MULTIPLE STUDENT DISCOUNT 28 28535 FMV 5% DISCOUNT ON EACH ADDITIONAL CHILD. SCHOLARSHIPS 11 67580 FMV STUDENT MEETS PREDETERMINED REQUIREMENTS. PART I, LINE 2: STUDENTS APPLY FOR FINANCIAL AID EACH YEAR. AMOUNTS ARE AWARDED BASED ON NEED AND ARE APPLIED DIRECTLY TO THE STUDENTS' TUITION ACCOUNTS. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 THOMAS ADAMS HEAD OF SCHOOL - EX-OFFICI 188113 0 0 0 0 0 0 0 35012 0 223125 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL IS ASKED TO LIVE IN A HOUSE ON THE SCHOOL CAMPUS WITH HIS FAMILY WITHOUT CHARGE FOR THE BENEFIT OF THE SCHOOL. THE HEAD OF SCHOOL DOES NOT PAY THE TUITION FOR HIS CHILDREN ABOVE THE REMISSION AND OTHER DISCOUNTS AFFORDED ALL EMPLOYEES. THE TUITION IS TREATED AS TAXABLE INCOME. A MICHIGAN FINANCE AUTHORITY 800596186 2014-11-03 5840000 CAPITAL IMPROVEMENTS 0 0 0 A 5840000 85000 5840000 2007 0 0 1 1 A 0 0 0 0 0 0 1 A 0 0 1 0 1 0 0 0 0 A 0 THOMAS ADAMS HEAD OF SCHOOL 14800 HOUSING ALLOWANCE X 2 8300 COST X 8679 COST X MISCELLANEOUS 54 13498 COST X FOOD & DRINK PACKAGES 11 9638 COST X JEWELRY 4 3460 COST X MEMBERSHIP PACKAGES 13 3444 COST X ENTERTAINMENT 18 2513 COST X VACATION PACKAGES 3 1139 COST 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 CAROL PEABODY IS A FOUNDING TRUSTEE OF THE ACADEMY. KATE PEABODY IS HER DAUGHTER-IN-LAW AND IS ALSO A TRUSTEE OF THE ACADEMY AND A PARENT WITH 3 STUDENTS ATTENDING THE ACADEMY. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING, FORM 990 WILL BE REVIEWED BY THE BOARD TREASURER, HEAD OF SCHOOL, AND FINANCE COMMITTEE MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES ARE GIVEN THE CONFLICT OF INTEREST POLICY AT THE ANNUAL BOARD OF TRUSTEES RETREAT AND ASKED TO SIGN AND RETURN. CONFLICT OF INTEREST QUESTIONNAIRES ARE MAINTAINED BY THE HEAD OF SCHOOL OFFICE. IN THE EVENT A BOARD MEMBER HAS A CONFLICT, IT WOULD BE NOTED AND THEY WOULD BE REQUESTED TO EXCLUDE THEMSELVES FROM ANY VOTE/DISCUSSION RELATIVE TO SAID CONFLICT. ALL EMPLOYEES MUST ALSO SIGN THE CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES' PRESIDENT RECEIVED INFORMATION FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS COMPARING TOTAL COMPENSATION AND BENEFITS FOR THE RESPECTIVE POSITIONS AT PEER SCHOOLS. THE PRESIDENT MAKES A RECOMMENDATION TO THE BOARD FOR THEIR APPROVAL FOR THE HEAD OF SCHOOL'S COMPENSATION. THE DETERMINATION AND DECISION REGARDING COMPENSATION WAS DOCUMENTED CONTEMPORANEOUSLY IN THE EXECUTIVE COMMITTEE MINUTES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VIII, LINE 1E AND PART X, LINE 26 INCLUDED ON PART X, LINE 26 IS A REFUNDABLE ADVANCE CONTRIBUTION OF $141,680. DURING THE YEAR ENDED JUNE 30, 2020, THE ORGANIZATION QUALIFIED FOR AND RECEIVED A LOAN PURSUANT TO THE PAYCHECK PROTECTION PROGRAM, A PROGRAM IMPLEMENTED BY THE SMALL BUSINESS ADMINISTRATION UNDER THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT. THE PRINCIPAL AMOUNT OF THE LOAN WAS $532,530. THE LOAN BEARS INTEREST AT A FIXED RATE OF 1.0% PER ANNUM, HAS A TWO YEAR TERM, IS UNSECURED AND GUARANTEED BY THE SMALL BUSINESS ADMINISTRATION. THE PRINCIPAL AND INTEREST ARE ELIGIBLE FOR FORGIVENESS UNDER THE PAYCHECK PROTECTION PROGRAM UPON MEETING THE PERFORMANCE REQUIREMENTS OF PROGRAM. THE ORGANIZATION INTENDS TO APPLY FOR THE MAXIMUM FORGIVENESS OF THE PPP LOAN. AS OF JUNE 30, 2020, THE ORGANIZATION HAD MET THE PERFORMANCE REQUIREMENTS FOR THE AMOUNT OF $390,850. THEREFORE, THIS AMOUNT HAS BEEN INCLUDED AS REVENUE ON PART VIII LINE 1E. FORM 990, PART XII, LINE 2C: THE BOARD IS RESPONSIBLE FOR THE OVERSIGHT OF THE REVIEW. THIS PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR.