2018-05-12T10:00:22-05:00 2017-06-30 204193611 Batts Morrison Wales & Lee PA 801 North Orange Avenue Suite 800 Orlando FL 32801 990 2016-07-01 590624431 Lake Highland Preparatory School Inc LAKE 4072061900 901 North Highland Avenue Orlando FL 32803 James Bartlett CFO/VP 4072061900 2018-05-10 1 Julia W James P01772503 4077706000 2018-05-10 99.25.81.133 2018-05-10 12:51:42 ED P 485AA9551C2A05AD091261E1D3111EF93F070742 935CACE8365413C0D76314017BD70661184C200E 2016 2021-01-29 14:40:06Z James Bartlett 901 North Highland Avenue Orlando FL 32803 41139872 0 X www.lhps.org X 1941 FL Instilling Christian values, inspiring patriotism, developing future leaders & preparing students 19 16 564 250 0 0 1184256 843346 36367671 37856302 68443 23821 923360 1482621 38543730 40206090 0 100000 0 0 23350980 24263148 0 0 567131 15509040 15206657 38860020 39569805 -316290 636285 75609093 78290960 51665048 51155560 23944045 27135400 X Within an atmosphere of love, concern and mutual respect, Lake Highland Preparatory School, Inc. is committed to instilling Christian values, to inspiring patriotism, to developing future leaders, and to preparing students for college and lifetime learning through academically challenging programs and affirming competitive experiences. 0 0 33497315 34722789 Instructional and Student Activities:Approximately 1,940 students are enrolled from pre-kindergarten through 12th grade. The school-wide pupil ratio is 1 to 12. The School promotes spiritual, personal, athletic, and social development in addition to meeting the academic needs of its students with a planned program of excellence from pre-kindergarten through 12th grade. Lake Highland seeks to provide a comprehensive, enriching education that will enable students to continue their academic studies successfully at the college level. These goals are achieved through a diversified curriculum, small class size, and personalized instruction. 1073172 100000 3133513 Auxiliary Activities:Auxiliary activities include the athletic department, admissions testing, and yearbook production and sales. These activities enhance Lake Highland's exempt mission of promoting the spiritual, personal, athletic and social development of students in addition to meeting their academic needs. 34570487 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 1 0 0 0 0 0 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 1 1 0 0 1 153 2 1 564 1 0 0 0 0 0 1 1 0 0 0 0 X 19 16 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X James Bartlett 4072061900 901 North Highland Avenue Orlando FL 32803 Dr David Jablonski Chairman / Trustee 4.00 0.10 X X 0 0 0 Mike Mikkelson Vice-Chairman / Trustee 1.25 0.10 X X 0 0 0 Steve L Blomeley Treasurer / Trustee 2.50 0.10 X X 0 0 0 Jeffrey Deery Secretary / Trustee 3.00 0.10 X X 0 0 0 Charles Allison Trustee 0.75 0.75 X 0 0 0 Joseph S Guernsey Founding Trustee (thru 11/16) 1.00 0.10 X 0 0 0 Alfred G Harms Jr Trustee 0.50 X 0 0 0 Grant Hill Trustee 0.10 X 0 0 0 David Lamm Trustee 0.50 X 0 0 0 Derek Lewis Trustee 0.50 X 0 0 0 Dr Denise Nicholson Trustee 0.25 X 0 0 0 Leila Nodarse Trustee 1.00 X 0 0 0 Karen O'Neill-Arredondo Trustee 0.15 X 0 0 0 Sarah Overmeyer Trustee 2.50 X 0 0 0 Greg Ramsby Trustee 0.40 0.10 X 0 0 0 Charles W Rex Jr Founding Trustee (thru 07/16) 1.00 0.10 X 0 0 0 Hope Roll Trustee 0.15 X 0 0 0 Tim Seneff Trustee 0.50 X 0 0 0 Scott Skidelsky Trustee 0.25 X 0 0 0 Jeff Turner Trustee (thru 06/17) 0.15 X 0 0 0 Jay E Whitehurst Trustee 3.00 0.10 X 0 0 0 David Yergey Jr Trustee 1.25 0.10 X 0 0 0 David Rowe President (began 07/1/16) 35.00 X 241755 0 33357 James W Bartlett CFO / Vice President 35.00 1.10 X 207730 0 48224 Susan B Clayton VP of Advancement 35.00 X 171229 0 29934 David M Bernatavitz Director of Middle School 35.00 X 141312 0 27169 Francis Prendergast Director of Athletics 35.00 X 126794 0 26130 Michael Jakubinsin Director of Upper School 35.00 X 129834 0 33979 Deborah P DeLoach Director of Lower School 35.00 X 131968 0 24959 Warren P Hudson President (ended 6/30/16) 35.00 X 267130 0 61439 1417752 0 285191 12 1 1 0 Florida Cleaning Systems Inc 624 Douglas Avenue Suite 1420 Altamonte Springs FL 32714 Cleaning services 595588 Ricoh USA Inc PO Box 532530 Atlanta GA 30353 Printing & mail services 386263 Aire Tech Mechanical Services Inc 5507 Force Four Parkway Orlando FL 32839 Repair & maintenance services 382670 Sodexo Inc and Affiliates 901 N Highland Ave Orlando FL 32803 Food service 289094 Keller Environmental Services LLC 2150 Marquette Ave Sanford FL 32773 Landscaping & lawn maintenance 148880 10 380 70304 772662 21266 843346 Tuition & fees 611710 34722789 34722789 Auxiliary activities 611710 2229287 2229287 Finance charges 525990 432158 432158 Student Activities 611710 316784 316784 Aftercare 611710 155284 155284 37856302 131671 131671 104944 0 104944 104944 104944 107850 -107850 -107850 -107850 396119 380 106705 289414 289414 35275 15000 20275 20275 1472253 704227 768026 768026 Other revenue 900099 299962 299962 299962 40206090 37856302 0 1506442 100000 100000 853089 148827 525671 178591 61636 15409 27736 18491 17749583 16039922 1446030 263631 1592159 1450654 141505 2601387 2344843 256544 1405294 1248843 156451 27128 27128 86928 86928 1328903 630224 698679 129991 20949 2624 106418 164043 145780 18263 1070025 950900 119125 1369639 1217158 152481 2331377 2071827 259550 345977 307460 38517 Maintenance & repairs 3193682 2838132 355550 Student activities 2274106 2274106 General operating 1744960 1625555 119405 Athletics 1139898 1139898 39569805 34570487 4432187 567131 19941025 23010112 123824 91066 143165 71773 661655 688366 224601 330044 75806097 33940473 43396454 41865624 20773 22166 11097596 12211809 75609093 78290960 6367411 6544269 13453363 15464874 27740000 26610000 4104274 2536417 51665048 51155560 X 20872345 22811408 930569 1354109 2141131 2969883 23944045 27135400 75609093 78290960 X 636285 -69846 2624916 X X 0 1 X 1 0 X 2253498 1720487 2225966 1184256 843346 8227553 2253498 1720487 2225966 1184256 843346 8227553 104541 8123012 140066 177234 193006 185556 236615 932477 1799274 1611917 1548012 1730250 2203606 8893059 18053089 178296959 0.45000 0.47670 X Schedule A, Part II: The Organization is completing the 509(a)(1) Test at Schedule A, Part II, to allow it to qualify for the special rule for Schedule B reporting, in accordance with the Schedule A instructions. Part II, Section B, Line 10: Other income includes miscellaneous income, sales of inventory, and income from fundraising events. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6800922 828752 375594 70304 7934964 5680041 844664 308983 32766 6800922 4906103 593250 180688 5680041 565548 4192837 147719 4906103 272837 266190 26521 565548 0.50000 0.37000 0.13000 0 1 1 4311207 4311207 50555372 19498759 31056613 9605230 8368653 1236577 11334288 6073061 5261227 41865624 Assets held by Lake Highland Preparatory School Foundation, Inc. 6256994 Unamortized bond issuance costs 254082 Due from OS Complex, Inc. 2299706 Beneficial interest in Foundation 3401027 12211809 Interest rate swap liability 2536417 2536417 X Part V, Line 4: The Organization's endowment funds are held by a related entity, Lake Highland Preparatory School Foundation, Inc. The endowment funds are intended to be used to support the Organization's Christian ministries, teachers, Edison program (special education) and debate program. Part X, Line 2: The Organization is exempt from federal income tax as an organization described in Section 501(c)(3) of the Internal Revenue Code and from state income tax pursuant to Florida law. The Organization is further classified as a public charity and not a private foundation for federal tax purposes. The Organization has not incurred unrelated business income taxes. As a result, no income tax provision or liability has been provided for in the accompanying consolidated financial statements. The Organization has not taken any material uncertain tax positions for which the associated tax benefits may not be recognized under accounting principles generally accepted in the United States of America. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 It is posted on Lake Highland Preparatory School's website at: www.lhps.org. Also, Lake Highland Preparatory School published an ad in the local newspaper, The Orlando Sentinel. Fashion Day 96907 5 96902 0 775 12170 4898 Fling 299592 375 299217 3463 70067 15332 396499 380 396119 4238 82237 20230 106705 289414 35275 15000 1 1.00000 35275 15000 15000 20275 FL 0 The Organization conducts raffles infrequently in connection with certain fundraising events. The Organization works with its legal counsel to ensure that applicable state requirements are met. 0 0 0 0.00000 1.00000 John Nelund 901 North Highland Avenue Orlando FL 32803 0 Not applicable - activity is conducted by volunteers 0 The raffle activity is conducted entirely by volunteers, who supervise and manage the activity. 0 Part III: During the year, the Organization conducted two raffles at its fundraising events. The raffle activity is infrequent and is conducted entirely by volunteers. The Organization has consulted with its legal counsel regarding the raffle activities to ensure that applicable state requirements have been met with respect to these activities. Part III, Line 11: The Organization does not have members. 1 Lake Highland Preparatory School Foundation Inc 901 North Highland Avenue Orlando FL 32803 200724295 501(c)(3) 100000 General support of the Foundation's exempt activities. 1 0 Part I, Line 2: The Organization made grants only to its supporting organization, Lake Highland Preparatory School Foundation, Inc. The Foundation is controlled by the Organization and operates under common management. As such, no additional monitoring is deemed necessary. X X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 David Rowe President (began 07/1/16) 171812 0 10150 0 59793 0 0 0 33357 0 275112 0 0 0 James W Bartlett CFO / Vice President 207580 0 150 0 0 0 27458 0 20766 0 255954 0 0 0 Susan B Clayton VP of Advancement 169577 0 150 0 1502 0 20124 0 9810 0 201163 0 0 0 David M Bernatavitz Director of Middle School 141162 0 150 0 0 0 15647 0 11522 0 168481 0 0 0 Francis Prendergast Director of Athletics 122624 0 150 0 4020 0 14721 0 11409 0 152924 0 0 0 Michael Jakubinsin Director of Upper School 129684 0 150 0 0 0 14704 0 19275 0 163813 0 0 0 Deborah P DeLoach Director of Lower School 131818 0 150 0 0 0 14044 0 10915 0 156927 0 0 0 Warren P Hudson President (ended 6/30/16) 200744 0 150 0 66236 0 33715 0 27724 0 328569 0 0 0 Part I, Line 1a The President of the Organization has a discretionary spending account for organization-related expenses and for which documentation is submitted pursuant to the IRS' accountable plan requirements. The President lives in campus housing as a condition of his employment, the value of which is excludible from his taxable wages under Section 119 of the Internal Revenue Code. Social club dues are paid on behalf of the Administrator. The Organization may infrequently provide travel for spouses, where such travel serves a bona fide business purpose. Part II: Other reportable compensation for Dr. Rowe reported at Column (B)(iii) includes the value of tuition waivers provided to Dr. Rowe. The Organization has determined that this benefit is a taxable benefit to Dr. Rowe and therefore has included the value of this benefit in Dr. Rowe's reportable compensation as reported on his 2016 Form W-2. The value of the tuition benefits are based on the amount of tuition that would be charged to an unrelated third party. The Organization's compensation committee included the value of the tuition benefits provided to Dr. Rowe in its consideration and approval of the overall compensation package for Dr. Rowe. Part II: Mr. Hudson retired from his service as the Organization's President effective June 30, 2016. Prior to his retirement, Mr. Hudson received compensation from the Organization during the 2016 calendar year for his services as President, and thus he has been reported as a "Former" Officer on the Form 990 in accordance with the Form 990 instructions. Other reportable compensation reported in Column (B)(iii) for Mr. Hudson represents the payout of accrued vacation time which was earned but not taken prior to Mr. Hudson's retirement. Subsequent to his retirement, Mr. Hudson provided consulting and advisory services to the Organization on an as-needed basis as an independent contractor. The compensation paid to him for such services has been included at Column (B)(i), in accordance with the Form 990 instructions. A Orange County Industrial Development Authority 591767933 2011-06-01 32605000 Refund prior issue; Campus imprvmts 0 0 0 A 32605000 382500 32222500 2008 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 1 Wells Fargo 20.200000000000 0 0 0 0 0 A 0 Schedule K, Part V: The Organization has not established formal written procedures to timely identify and correct violations of federal tax requirements through the voluntary closing agreement program if self-remediation is not available under applicable regulations. However, the Organization regularly monitors compliance with the applicable requirements through periodic communication with its bond counsel. In light of the nature of the Organization's use of the tax-exempt bond financed property and its periodic consultations with bond counsel with respect to compliance with applicable federal tax requirements, the Organization does not believe that such written procedures are necessary at this time. Debra Deery Family relationship with board member 61812 Compensation for employment as a teacher for the Organization 0 Desiree Allison Family relationship with board member 39114 Compensation for employment as a teacher for the Organization 0 Steven Nicholson Family relationship with board member 41660 Compensation for employment as a teacher for the Organization 0 Donita Turner Family relationship with board member 54732 Compensation for employment as a teacher for the Organization 0 Form 990, Part VI, Section B, line 11b The Organization's top management official and top financial official each review the Form 990 prior to its filing with the IRS. Form 990, Part VI, Section B, line 12c The Organization's conflict of interest policy is distributed to each member of the Organization's governing body, its officers, and its key employees. Each such individual provides a disclosure statement indicating that they have received, read, understood and agreed to comply with the policy, and certifying that: (1) they have no relationships or interests that present a conflict of interest, (2) they have one or more conflicts of interest that have been fully disclosed as required by the policy and have been properly administered in conformity with the policy, or (3) they have previously undisclosed conflicts of interest and disclosing the details of such conflicts. Any disclosure statements with previously undisclosed conflicts of interest are forwarded to appropriate Organization officials to take appropriate actions as required by the policy. Form 990, Part VI, Section B, line 15 An independent committee of the Board of Trustees annually reviews and approves the compensation levels of the Organization's top management official, officers and key employees. The deliberations and decisions of the committee are contemporaneously substantiated. The committee utilizes comparability data in its deliberations; updated comparability data is generally obtained every year. Form 990, Part VI, Section C, line 19 The Organization does not make its Articles of Incorporation, bylaws, conflict of interest policy, or financial statements available to the general public. Form 990, Part XI, line 9: Change in FMV of Interest Rate Swap 1,567,857. Change in beneficial interest in Foundation 1,057,059. Form 990, Part XII, line 2c: The Organization's Board of Trustees, or a committee thereof, assumes responsibility for the oversight of the audit of its financial statements and the selection of an independent accountant. This process has not changed from the prior year. Form 990, Part VI, Section A, Line 1a - Use of Executive Committee: The Organization's Executive Committee for the fiscal year ended June 30, 2017 included the following trustees: Steve L. Blomeley, Jeffrey Deery, Dr. David Jablonski, Mike Mikkelson, Jay E. Whitehurst, and David Yergey, Jr. The scope of the Committee's authority includes the review of the President's report on the financial condition, academic status, enrollment, and personnel employment. The Committee shall concur with the President in his report or make its own recommendation to the Board on the activities of the Organization. The Committee reviews and approves the President's proposed annual budget, which is then submitted to the full Board for review and approval. The Committee also approves the President's compensation and benefits. Lake Highland Preparatory School Foundation Inc 901 North Highland Avenue Orlando FL 32803 200724295 Supporting organization FL 501(c)(3) 509(a)(3) Type I N/A 1 OS Complex Inc 901 North Highland Avenue Orlando FL 32803 263416614 Supporting organization FL 501(c)(3) 509(a)(3) Type II N/A 1 0 1 1 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 Lake Highland Preparatory School Foundation B 100000 Amount Granted Lake Highland Preparatory School Foundation C 70304 Amount Granted