2017-01-10T12:36:37-06:00 2016-06-30 450250958 EIDE BAILLY LLP 5299 DTC BLVD STE 1000 GREENWOOD VILLAGE CO 80111 990 2015-07-01 840421874 COLORADO ACADEMY COLO 3039861501 3800 SOUTH PIERCE ST DENVER CO 80235 ALANNA BROWN BUSINESS MANAGER/CFO 3039861501 2017-01-10 1 KYLE FRITCH CPA P01313374 3037705700 2017-01-10 2015 2021-01-29 14:40:06Z ALANNA BROWN 3800 SOUTH PIERCE ST DENVER CO 80235 43507361 0 X WWW.COLORADOACADEMY.ORG X 1906 CO EDUCATE AND CHALLENGE STUDENTS ETHICALLY, ACADEMICALLY, ARTISTICALLY, AND ATHLETICALLY. 22 22 547 775 0 0 4362763 11233822 25056532 26084405 713010 -244429 -26146 -84953 30106159 36988845 2301067 2407511 0 0 16390881 16861697 0 0 923827 9783076 9971372 28475024 29240580 1631135 7748265 75662783 83658470 7109982 8010138 68552801 75648332 X A DYNAMIC LIBERAL ARTS AND SCIENCES PROGRAM THAT CHALLENGES STUDENTS ETHICALLY, ACADEMICALLY, ARTISTICALLY, AND ATHLETICALLY CREATES THE FOUNDATION FOR COLORADO ACADEMY. TEACHERS, STUDENTS, PARENTS, AND STAFF FOSTER TRUSTING AND RESPECTFUL RELATIONSHIPS, ENHANCING OUR THRIVING SCHOOL FAMILY. STUDENTS PURSUE EXCELLENCE AND SEEK TO BECOME LIFE-LONG LEARNERS AND CONTRIBUTORS IN OUR LOCAL AND INTERNATIONAL COMMUNITIES. 0 0 22128767 2407511 24059222 EDUCATION OF 965 STUDENTS IN GRADES PRE-K THROUGH 12. COLORADO ACADEMY STRIVES FOR ACADEMIC EXCELLENCE AND THE HIGHEST STANDARDS OF ACHIEVEMENT THROUGH ACADEMIC STUDIES, ATHLETIC PURSUITS, ARTISTIC VENTURES, SUMMER PROGRAMS, AND EXTRACURRICULAR ACTIVITIES. STUDENTS LEARN TO THINK AND CREATE AS THEY FORGE A LIFE-LONG LEARNING ADVENTURE. 2018347 1536166 SUMMER AND OTHER PROGRAMS FOR APPROXIMATELY 1,000 STUDENTS. 702862 535566 TRANSPORTATION TO AND FROM SCHOOL IS USED BY APPROXIMATELY 300 STUDENTS. 24849976 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 1 0 0 0 1 1 0 0 0 1 0 0 0 1 88 0 1 547 1 0 0 0 0 0 1 1 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 CO X ALANNA BROWN 3039142521 3800 S PIERCE STREET DENVER CO 80235 HEATHER KEMPER MILLER PRESIDENT 1.00 X X 0 0 0 BRYAN RITZ VICE PRESIDENT 1.00 X X 0 0 0 DAVID JONES SECRETARY 1.00 X X 0 0 0 CHRIS BITTMAN TRUSTEE 1.00 X 0 0 0 JOHN BURSTEIN TRUSTEE 1.00 X 0 0 0 PETER CULSHAW TRUSTEE 1.00 X 0 0 0 IVETTE DRAWE TRUSTEE 1.00 X 0 0 0 MIKE FRIES TRUSTEE 1.00 X 0 0 0 DICKSON GRISWOLD TRUSTEE 1.00 X 0 0 0 LESLIE HOWARD TRUSTEE 1.00 X 0 0 0 JIM KIDDER TRUSTEE 1.00 X 0 0 0 GARY LUTZ TRUSTEE 1.00 X 0 0 0 BROOKE MALOY TRUSTEE 1.00 X 0 0 0 TRISHA NOBLE TRUSTEE 1.00 X 0 0 0 CRAIG PONZIO TRUSTEE 1.00 X 0 0 0 ELIZA PRALL TRUSTEE 1.00 X 0 0 0 DOUG ROBINSON TRUSTEE 1.00 X 0 0 0 CELIA SHENEMAN TRUSTEE 1.00 X 0 0 0 MINYOUNG SOHN TRUSTEE 1.00 X 0 0 0 RICK STONE TRUSTEE 1.00 X 0 0 0 TIM WALSH TRUSTEE 1.00 X 0 0 0 MARIBETH YOUNGER TRUSTEE 1.00 X 0 0 0 MIKE DAVIS HEAD OF SCHOOL 40.00 X 330570 0 94826 ALANNA BROWN BUSINESS MANAGER/CHIEF FINANCIAL OFFICER 40.00 X 167307 0 24501 ROBERT SCHMITZ DIRECTOR OF DEVELOPMENT 40.00 X 163151 0 33762 WILLIAM WOLF-TINSMAN MIDDLE SCHOOL PRINCIPAL 40.00 X 148651 0 51109 JONATHAN VOGELS UPPER SCHOOL PRINCIPAL 40.00 X 129312 0 55530 LISA ULSH LOWER SCHOOL PRINCIPAL 40.00 X 132140 0 15205 WILLIAM HALL DIRECTOR OF ATHLETICS 40.00 X 122626 0 63845 1193757 0 338778 7 0 1 0 SODEXO INC AND AFFILIATES DEPT 880328 LOS ANGELES CA 90088 FOOD SERVICE MANAGEMENT 1197015 BLACK DIAMOND EXCAVATING 260 VENUS RD BLACKHAWK CO 80422 CONTRACTORS 380553 PARAGON CONSULTING GROUP 1103 OAK PARK DR SUITE 110 FORT COLLINS CO 80525 CONSULTING 191689 WALKING TREE TRAVEL PO BOX 18636 DENVER CO 80218 STUDENT TRAVEL 155311 PUBLICATION DESIGN INC 3798 MARSHALL ST WHEAT RIDGE CO 80033 PRINTING 150158 8 413613 10820209 396200 11233822 TUITION AND FEES 611710 24059222 24059222 SUMMER AND OTHER PROGRAMS 611710 1482189 1482189 TRANSPORTATION FEES 611710 535566 535566 7428 7428 26084405 563495 563495 11670 0 11670 11670 11670 5390649 12355 5215023 995905 175626 -983550 -807924 -807924 64705 413613 196207 -131502 -131502 146260 111381 34879 34879 36988845 26130954 0 -375931 2407511 2407511 577185 95070 387045 95070 11955497 10524233 1002214 429050 1846300 1438735 333419 74146 2482715 2009672 389401 83642 70407 70407 22985 22985 77171 77171 1167094 1005425 161669 2346666 2297882 48784 1692337 1482161 178710 31466 INSTRUCTION PROGRAM SUP 3659100 3659100 FOOD SERVICES 935612 935612 29240580 24849976 3466777 923827 10495271 14663261 217636 5847654 220972 198840 42817 47410 521680 648490 57174889 19704694 38449640 37470195 24787744 24123358 739521 490276 187502 168986 75662783 83658470 1936529 2426433 1351970 1378638 3821483 4205067 7109982 8010138 X 43029421 42639265 7015018 13773254 18508362 19235813 68552801 75648332 75662783 83658470 7748265 -652734 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24921432 745967 81629 1053064 77171 24618793 23236103 2093008 629523 958440 78762 24921432 20406548 712794 3132090 938329 77000 23236103 18704665 468212 2198515 890259 74585 20406548 19936286 587844 -915753 831336 72376 18704665 0.77450 0.22550 0 0 3651984 3651984 41708530 15446085 26262445 8504566 3149530 5355036 2994809 1109079 1885730 315000 315000 37470195 TUITION AND FEES PAID IN ADVANCE 4105125 OTHER DEFERRED REVENUE 99942 4205067 X 33851428 -652734 -2407512 -3060246 36911674 77171 77171 36988845 26755897 0 26755897 77171 2407512 2484683 29240580 PART V, LINE 4: THE ACADEMY'S ENDOWMENT ("ENDOWMENT") IS COMPRISED OF APPROXIMATELY 80 INDIVIDUAL FUNDS ESTABLISHED BY DONORS TO PROVIDE ANNUAL FUNDING FOR SPECIFIC ACTIVITIES AND GENERAL OPERATIONS OF THE ACADEMY. THE ENDOWMENT ALSO INCLUDES CERTAIN UNRESTRICTED NET ASSETS DESIGNATED FOR ENDOWMENT BY THE COLORADO ACADEMY'S BOARD OF TRUSTEES AS REQUIRED BY GAAP. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES, IF ANY, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE ACADEMY IS ORGANIZED AS A COLORADO NONPROFIT CORPORATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3), QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A)(II), AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER SECTION 509(A)(1). WE ARE ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, WE ARE SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO OUR EXEMPT PURPOSE. WE HAVE DETERMINED WE ARE NOT SUBJECT TO UNRELATED BUSINESS INCOME TAX AND HAVE NOT FILED AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS. WE BELIEVE THAT WE HAVE APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING OUR ANNUAL FILING REQUIREMENTS, AND AS SUCH, DO NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. WE WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES WERE TO BE INCURRED. OUR FORM 990 AND OTHER INCOME TAX FILINGS REQUIRED BY STATE, LOCAL, OR NON-U.S. TAX AUTHORITIES ARE NO LONGER SUBJECT TO TAX EXAMINATIONS FOR YEARS BEFORE 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID GRANTS NETTED WITH REVENUE ON FINANCIAL STATEMENTS -2,407,512. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID GRANTS NETTED WITH REVENUE ON FINANCIAL STATEMENTS 2,407,512. 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 SCHOOL PERIODICALLY PUBLISHES ITS NON-DISCRIMINATION POLICY WITH RESPECT TO ENROLLMENT AND PARTICIPATION IN PROGRAMS AND ACTIVITIES IN LOCAL NEWSPAPERS AND IN FORMS AND BROCHURES WHICH ARE MADE AVAILABLE TO THE PUBLIC. IN THE CASE OF EMPLOYEES, THE EMPLOYEE HANDBOOK PROVIDES INFORMATION WITH RESPECT TO THE SCHOOL'S NON-DISCRIMINATORY EMPLOYMENT POLICIES. CONCERT 347943 291393 56550 16255 102236 62642 HORIZONS 130375 122220 8155 1170 5370 8534 478318 413613 64705 17425 107606 71176 196207 -131502 1 SCHOLARSHIPS 141 2407511 PART I, LINE 2: ALL SCHOLARSHIP AWARDS ARE BASED ON DEMONSTRATED FINANCIAL NEED. EACH APPLICATION FOR FINANCIAL ASSISTANCE IS REVIEWED BY THREE MEMBERS OF THE FINANCIAL AID COMMITTEE TO ASSURE QUALIFYING CRITERIA IS FAIRLY AND CONSISTENTLY APPLIED. A COPY OF EACH FINANCIAL ASSISTANCE AWARD LETTER IS GIVEN TO THE BUSINESS OFFICE SO THE AWARDS ARE RECORDED CORRECTLY IN THE FINANCIAL RECORDS OF THE ACADEMY. THIS ASSURES THE PROPER MATCHING OF SCHOLARSHIP GIFTS TO AWARDS. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 MIKE DAVIS HEAD OF SCHOOL 317144 0 0 0 13426 0 16900 0 79026 0 426496 0 0 0 ALANNA BROWN BUSINESS MANAGER/CHIEF FINANCIAL OFF 166382 0 0 0 925 0 16697 0 8904 0 192908 0 0 0 ROBERT SCHMITZ DIRECTOR OF DEVELOPMENT 161732 0 0 0 1419 0 16758 0 18104 0 198013 0 0 0 WILLIAM WOLF-TINSMAN MIDDLE SCHOOL PRINCIPAL 148157 0 0 0 494 0 11723 0 41566 0 201940 0 0 0 JONATHAN VOGELS UPPER SCHOOL PRINCIPAL 128847 0 0 0 465 0 13069 0 43418 0 185799 0 0 0 WILLIAM HALL DIRECTOR OF ATHLETICS 120979 0 0 0 1647 0 7431 0 57860 0 187917 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL IS PROVIDED WITH A PERSONAL RESIDENCE AND AN ADDITIONAL BENEFIT ALLOWANCE TO BE USED FOR ANY OF THE FOLLOWING; AUTOMOBILE EXPENSES, HEALTH CLUB, OR FINANCIAL PLANNING. THE BENEFIT ALLOWANCE IS INCLUDED IN THE HEAD OF SCHOOL'S W-2 WAGES. 35460 TUITION ASSISTANCE TUITION ASSISTANCE X 16 396200 FAIR MARKET VALUE 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 1 COLORADO ACADEMY HAS AN EXECUTIVE COMMITTEE COMPRISED OF THE BOARD CHAIR, THE VICE CHAIR, THE BOARD SECRETARY, THE CHAIR OF THE FINANCE COMMITTEE, AND SUCH OTHER REGULAR AND EX OFFICIO MEMBERS OF THE BOARD AS THE BOARD CHAIR AND THE BOARD MAY APPOINT. IN INSTANCES WHERE A MEETING OF THE FULL BOARD WOULD BE IMPRACTICAL, THE EXECUTIVE COMMITTEE WILL HAVE AND MAY EXERCISE ALL OF THE AUTHORITY OF THE BOARD. MINUTES WILL BE KEPT OF ACTION TAKEN BY THE EXECUTIVE COMMITTEE, WHICH MINUTES WILL BE SUBMITTED TO THE BOARD AT ITS NEXT SUCCEEDING MEETING, BUT FAILURE TO SUBMIT SUCH MINUTES WILL NOT INVALIDATE ANY COMPLETED OR INCOMPLETE ACTION TAKEN BY OR ON BEHALF OF COLORADO ACADEMY UPON AUTHORIZATION OF THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE COMPLETED FORM 990 TAX RETURN IS PRESENTED FOR REVIEW TO TRUSTEES PRESENT AT THE FINANCE COMMITTEE MEETING, PRIOR TO FILING OF THE RETURN. AT THE MEETING, THE COMPLETE RETURN AND ALL SCHEDULES ARE REVIEWED AND DISCUSSED. IN ADDITION, A REDACTED COPY OF THE FORM 990 TAX RETURN IS REVIEWED BY THE FULL BOARD OF TRUSTEES BEFORE FILING WITH THE IRS. THE REDACTED COPY OF THE RETURN PROVIDED TO THE TRUSTEES IS THE SAME AS THE ACTUAL RETURN FILED EXCEPT FOR THE FOLLOWING INFORMATION WHICH IS REMOVED TO PROTECT INDIVIDUAL PRIVACY RIGHTS - THE NAMES AND ADDRESSES OF DONORS ON SCHEDULE B, THE COMPENSATION AMOUNTS ON FORM 990 PART VII, AND SCHEDULE J, PART I AND PART II. FORM 990, PART VI, SECTION B, LINE 12C SIGNED CONFLICT OF INTEREST STATEMENTS ARE OBTAINED EACH SCHOOL YEAR FROM ALL TRUSTEES AND KEY ADMINISTRATORS. IN THE EVENT OF AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST BY EITHER A TRUSTEE OR KEY ADMINISTRATOR, THEY SHALL IMMEDIATELY DISCLOSE IN WRITING THE EXISTENCE OF SUCH CONFLICT, TOGETHER WITH ALL MATERIAL FACTS TO; THE PRESIDENT OF THE BOARD OF TRUSTEES IN THE CASE OF A TRUSTEE WITH A CONFLICT; TO THE VICE PRESIDENT OF THE BOARD IN THE CASE OF A CONFLICT INVOLVING THE PRESIDENT; TO THE HEAD OF SCHOOL IN THE CASE OF KEY ADMINISTRATORS WITH A CONFLICT; TO THE BOARD CHAIR, WHO SHALL BRING THE MATTER TO THE ATTENTION OF THE APPROPRIATE BOARD COMMITTEE UNDER THE POLICY, FOR CONFLICTS WITH THE HEAD OF SCHOOL. A TRUSTEE OR AN ADMINISTRATOR (OR A MEMBER OF HIS OR HER FAMILY) WHO OWNS OR CONTROLS THE STOCK OF A PUBLICLY TRADED COMPANY THIS IS INVOLVED IN A TRANSACTION, CONTRACT, OR OTHER RELATIONSHIP WITH THE SCHOOL WILL NOT BE DEEMED TO HAVE AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST REQUIRING DISCLOSURE IF SUCH OWNERSHIP OR CONTROL IS OF LESS THAN ONE PERCENT (1%) OF THE VOTING STOCK OF SUCH COMPANY. WHILE THE FOREGOING STOCK INTEREST IN A PUBLICLY TRADED COMPANY WILL NOT CONSTITUTE A CONFLICT OF INTEREST, THE ADMINISTRATOR SHOULD NEVERTHELESS DISCLOSE THE NATURE OF THE ADMINISTRATOR'S RELATIONSHIP WITH THE PUBLIC COMPANY PRIOR TO THE CONSIDERATION OF THE TRANSACTION, CONTRACT, OR OTHER RELATIONSHIP WITH THE SCHOOL. THE PRESIDENT OR HEAD OF SCHOOL AS APPROPRIATE DEPENDING ON THE INDIVIDUAL WITH THE CONFLICT AS DESCRIBED ABOVE, SHALL REVIEW FACTS AND CIRCUMSTANCES OF THE CONFLICT AND SHALL MAKE HIS/HER RECOMMENDATION IN ACCORDANCE WITH THE PROCEDURES SET FORTH BELOW: ANY LOAN FROM THE SCHOOL TO A TRUSTEE OR TO A KEY ADMINISTRATOR IS PROHIBITED; ANY OTHER TRANSACTION, CONTRACT, OR RELATIONSHIP THAT IS NOT PROHIBITED BY LAW AND THAT INVOLVES AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST MAY BE PERMITTED IF THE EXISTENCE OF THE ACTUAL OR POTENTIAL CONFLICT AND THE MATERIAL FACTS ARE DISCLOSED TO THE PRESIDENT OR HEAD OF SCHOOL AND (I) THE PRESIDENT OR HEAD OF SCHOOL IN GOOD FAITH AUTHORIZES, APPROVES, OR RATIFIES THE TRANSACTION, CONTRACT OR RELATIONSHIP AT ISSUE (II) THE PRESIDENT OR HEAD OF SCHOOL DETERMINES THAT THE SCHOOL CANNOT OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION, CONTRACT, OR RELATIONSHIP FROM AN ENTITY OR INDIVIDUAL THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, OR (III) THE SUBJECT TRANSACTION, CONTRACT OR RELATIONSHIP IS FAIR TO THE SCHOOL. THE INTERESTED TRUSTEE OR ADMINISTRATOR MAY BE PROHIBITED FROM PARTICIPATING IN THE MEETING AT WHICH THE PRESIDENT OR HEAD OF SCHOOL DETERMINES WHETHER TO AUTHORIZE, APPROVE, OR RATIFY THE SUBJECT TRANSACTION, CONTRACT, OR RELATIONSHIP. NORMALLY, AN INTERESTED TRUSTEE OR ADMINISTRATOR WILL BE ALLOWED TO PARTICIPATE IN THE DISCUSSION OF THE MATTER IN QUESTION BUT WILL RECUSE HIMSELF OR HERSELF FROM THE FINAL DECISION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE HEAD OF SCHOOL, BUSINESS MANAGER, AND DIRECTOR OF DEVELOPMENT IS REVIEWED AND APPROVED ANNUALLY BY THE FINANCE COMMITTEE PRIOR TO THE ISSUANCE OF EMPLOYMENT CONTRACTS. COMPARABILITY SALARY DATA FOR SIMILAR POSITIONS AT SCHOOLS SIMILAR TO COLORADO ACADEMY IS OBTAINED AND SHARED WITH TRUSTEES. THE COMPARABILITY DATA INCLUDES NATIONAL AND LOCAL SCHOOL GROUPS. MINUTES OF THE MEETINGS AT WHICH COMPENSATION IS REVIEWED AND APPROVED ARE KEPT. THE MINUTES RECORD THE DISCUSSION AND RATIONAL FOR EACH APPROVED SALARY. THE FISCAL YEAR 2015 AND 2016 SALARIES FOR THE BUSINESS MANAGER, DIRECTOR OF DEVELOPMENT, AND HEAD OF SCHOOL WERE APPROVED BY THE FINANCE COMMITTEE ON APRIL 26, 2016. THE FULL BOARD OF TRUSTEES APPROVED THE COMPENSATION PACKAGE FOR THE HEAD OF SCHOOL ON MAY 4, 2016. FORM 990, PART VI, SECTION C, LINE 19 THE ACADEMY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. ADDITIONALLY, ALL OF THE DOCUMENTS ARE LOCATED IN THE ACADEMY'S BUSINESS OFFICE WHICH IS OPEN TO THE PUBLIC DURING REGULAR BUSINESS HOURS THROUGHOUT THE YEAR. PERPETUAL TRUST 3800 SOUTH PIERCE ST DENVER CO 80235 CHARITABLE PERPETUAL TRUST CO COLORADO ACADEMY T -9479 168986 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0