2018-01-19T14:32:49-06:00 2017-06-30 743001153 PMB HELIN DONOVAN LLP 12301 Research Blvd Bldg 5 160 Austin TX 78759 990 2016-07-01 742636515 Regents School of Austin Inc REGE 5128998095 3230 Travis Country Circle Austin TX 78735 Lee Jones Treasurer Treasurer of the Board 5128998095 2018-01-19 1 Norman Trubee P00962119 5122589670 2018-01-19 2016 2022-09-23 18:48:47Z Lee Jones 3230 Travis Country Circle Austin TX 78735 17520059 0 X regents-austin.com X 1992 TX The purpose of Regents School of Austin is to provide a classical and Christian education founded upon and informed by a biblical worldview to approximately 1,000 students. 8 8 341 600 0 0 1987739 1467452 14933963 15905320 23505 15288 179832 10165 17125039 17398225 1305657 1498182 0 0 10279842 10855016 0 0 0 5301259 5644702 16886758 17997900 238281 -599675 38094315 37154033 9191197 8848386 28903118 28305647 The purpose of Regents School of Austin is to provide a classical and Christian education founded upon and informed by a biblical worldview to approximately 1,000 students. 0 0 15664386 1498182 15896349 To provide quality classical Christian education to approximately 1,000 students. 15664386 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 99 0 341 1 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 0 1 1 0 X Lee Jones 5128998095 3230 Travis Country Cir Austin TX 78735 Rich Grafton Board Member 0.38 X 0 0 0 Mark Franz Board Member 0.38 X 0 0 0 Erika Herndon Board Member 0.38 X 0 0 0 Doug Ruby Board Member 0.38 X 0 0 0 Janet Mountain Board Member 0.38 X 0 0 0 Angelo Feller Board Member 0.38 X 0 0 0 Barry McBee Chairman of the Board 0.38 X 0 0 0 Clay Davis Board Member 0.38 X 0 0 0 Lee Jones Chief Financial Officer 40.00 0.38 X 96565 0 0 Rod Gilbert Head of School 40.00 X 216650 0 37052 Craig Doerksen Head of High School 40.00 X 119824 0 0 Edward Mosher Director Of Advancement 40.00 X 113562 0 0 Melanie Sharpless Head of Grammar School 40.00 X 106292 0 0 Bryan Gustin Director of Technology 40.00 X 120804 0 0 William Brydon Athletic Director 40.00 X 116052 0 0 889749 0 37052 6 0 1 0 Lakeland Holdings LLC 218 West Water Street Suite 400 Charlottesville VA 22902 Education 501920 JK Commercial Cleaning PO Box 91121 Austin TX 78709 Cleaning 201803 2 140860 63437 1263155 1467452 Tuition and fees 611710 14671759 14671759 Auxiliary income 611710 1233561 1233561 15905320 11488 11488 28610 0 28610 28610 28610 3800 0 3800 3800 3800 59921 140860 97487 -37566 -37566 43468 24347 19121 19121 17398225 15924441 0 6332 1498182 1498182 313215 254343 58872 8398405 6819840 1578565 1528942 1241562 287380 614454 498961 115493 161718 116437 45281 32047 23074 8973 25453 18326 7127 1716436 1630614 85822 32749 23579 9170 1192132 1132525 59607 95121 90365 4756 Direct Program and inst 2130233 2130233 Miscellaneous 133974 96461 37513 Bad debt expense 80500 57960 22540 Dues and subscriptions 31543 22711 8832 12796 9213 3583 17997900 15664386 2333514 0 5473994 5708702 37876 0 738397 422802 103765 107520 182080 175668 43495714 12876610 31386044 30619104 172159 120237 38094315 37154033 744687 692631 6585612 6767782 1860898 1387973 9191197 8848386 X 28274823 27642786 628295 662861 28903118 28305647 38094315 37154033 -599675 2205 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1585918 41105 164150 68577 1722596 1235383 339947 64483 53895 1585918 1235465 49419 52287 101788 1235383 997718 116476 161180 39909 1235465 897398 1265 103755 4700 997718 0 1 1 9373789 9373789 26422637 7383083 19039554 1716310 226073 1490237 4452139 4077164 374975 1530839 1190290 340549 30619104 Loan Payable 1387973 1387973 X 15919540 2205 121834 124039 15795501 1602724 1602724 17398225 16517011 121834 121834 16395177 1602724 1602724 17997901 Part X, Line 2: The School is exempt from federal income taxes under section 501(c)(3) of the Internal Revenue Code. Unrelated business income, of which the School had no significant amounts for the years ended June 30, 2017 or 2016, is subject to federal income taxes. Accordingly, there is no provision or liability for federal income taxes in the accompanying consolidated financial statements. The School regularly assesses uncertain tax positions in each of the tax jurisdictions in which it has operations and accounts for the related financial statement implications. Unrecognized tax benefits are reported using the two-step approach under which tax effects of a position are recognized only if it is "more-likely-than-not" to be sustained and the amount of the tax benefit recognized is equal to the largest tax benefit that is greater than fifty percent likely of being realized upon ultimate settlement of the tax position. Determining the appropriate level of unrecognized tax benefits requires the School to exercise judgement regarding the uncertain application of tax law. The amount of unrecognized tax benefits is adjusted when information becomes available or when an event occurs indicating a change is appropriate. Future changes in unrecognized tax benefits requirements could have a material impact on the results of operations. Part XI, Line 2d - Other Adjustments: Reclassed Fundraising expenses 97,487. Reclassed Sales costs 24,347. Part XI, Line 4b - Other Adjustments: Tuition assistance netted against Tuition income 1,498,182. Related party expense 41,105. Related party assistance 63,437. Part XII, Line 2d - Other Adjustments: Reclassed Fundraising expenses 97,487. Reclassed Sales costs 24,347. Part XII, Line 4b - Other Adjustments: Tuition assistance netted against Tuition income 1,498,182. Related party expense 41,105. Related party assistance 63,437. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 Newspaper and radio ads used to advertise the School's Open Houses included the following statement: "Regents School does not discriminate on the basis of race, color, national or ethnic origin." Regents Cup 140860 140860 53597 RSNC Fundraising 16773 16773 12096 1 43148 43148 31794 200781 140860 59921 97487 97487 -37566 1 Tuition Assistance 241 1498182 FMV Part I, Line 2: Procedures for Monitoring the Use of Grant Funds Individuals requesting financial aid complete a third party application which they send directly to the processing service. Regents School of Austin has used FACTS Grant and Aid Assessment, PO BOX 5688, Lincoln, NE 68505 for the past ten years to process students' requests for financial aid. "FACTS Grant and Aid Assessment" processes applications using methodology similar to the government's FAFSA application for college and university financial aid. Regents School of Austin uses financial need recommendations provided by FACTS Grant and Aid Assessment as a basis for the distribution of available aid funds annually. Grants for tuition assistance are given on a needs-based only basis. Grants are non-discriminatory. X 1 1 X X 0 0 0 0 0 0 0 0 0 Rod Gilbert Head of School 216650 0 0 0 0 0 18000 0 19052 0 253702 0 0 0 Form 990, Part VI, Section A, line 7a Election of Members and Their Rights- Members are not elected but attain that status by virtue of having a child enrolled as a student in Regents School of Austin. Members have all the rights, powers, and privileges accorded to them under Texas law and in the Articles of Incorporation and Bylaws, including the right to vote for the election of one member of the governing Board each year and to participate in the nomination process by signing petitions for candidates for election and recommending names for appointed positions. Members also have the right to appear at the meetings of the Board to raise issues of concern, in consultation with Board Chairman. Form 990, Part VI, Section B, line 11b Regents provides a complete and accurate Form 990 to the Board before the return is filed. Form 990, Part VI, Section B, line 12c Enforcement of Conflicts Policy Under the Bylaws of Regents School of Austin, each year the members of the Board and all committees are asked to review the school's policy on conflicts of interest found in the Bylaws and sign a statement that they have conducted such a review and are in compliance with the policy, which requires disclosure of any possible conflicts of interest and consideration by the Board of whether a conflict exists, and if so, is permissible as being the best interests of the School on terms that are fair and reasonable to the School. The school is also beginning a process through which all existing contracts and agreements will be reviewed to verify that no conflicts exist and assure that all contracts entered into, whether new or through an amendment to existing agreements, contain language requiring the party contracting with the school to disclose any possible conflicts of interests. Form 990, Part VI, Section B, line 15 Compensation Process for Top Official- A compensation committee is appointed biennially by the Board to review the compensation of the Head of School. The review evaluates the performance of the Head in light of the goals that have been collaboratively established by the Head of the School and Board and based on his satisfaction of a series of objective, measurable criteria, with input from the full Board. The committee also compares the Head's compensation to that of the relevant peer groupings based on available data, specifically the aids of comparable privates' schools in the Austin area and throughout the State of Texas and public school district superintendents in the Central Texas area. The recommendation of the compensation committee is brought to the full Board for approval. Form 990, Part VI, Section C, line 19 The governing documents, which include the conflicts of interest policy, are made available to members of the school and the public on request. The financial statements are reviewed by the Board quarterly in a meeting open to the public. The annual budget for the school, which is developed over the course of two or more meetings open to the public, is finally approved by the Board in a meeting open to the public. Regents Financial Assistance Endowment Fund (dba Regents Endowment Fund) 3230 Travis Country Circle Austin TX 78735 261379582 Manage the School's Endowment TX 501(c)(3) Line 12a, I Regents School of Austin 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Regents Endowment Fund C 63437 Cost