2017-01-19T14:19:34-06:00 2016-06-30 743001153 PMB Helin Donovan LLP 12301 Research Blvd Bldg 5 Ste 160 Austin TX 78759 990 2015-07-01 742636515 Regents School of Austin Inc REGE 5128998095 3230 Travis Country Circle Austin TX 78735 Lee Jones Treasurer Treasurer of the Board 5128998095 2017-01-15 1 Wallace F Helin P00361097 5122589670 2017-01-15 2015 2021-01-29 14:40:06Z Lee Jones 3230 Travis Country Circle Austin TX 78735 17596331 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 8 376 600 0 0 1949820 1987739 13860585 14933963 10463 23505 0 179832 15820868 17125039 1336628 1305657 0 0 9450844 10279842 0 0 0 4985293 5301259 15772765 16886758 48103 238281 39217411 38094315 10552118 9191197 28665293 28903118 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 14560210 1305657 14933963 To provide quality classical Christian education to approximately 1,000 students. 14560210 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 1 0 0 0 0 1 0 0 0 1 58 0 376 1 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 Barry McBee Board Member 2.00 X 0 0 0 Charles Larkam Board Member 2.00 X 0 0 0 Clay Davis Board Member 2.00 X 0 0 0 Mark Franz Board Member 2.00 X 0 0 0 Rich Grafton Chairman of the Board 2.00 X 0 0 0 Meg Voelter Secretary of the Board 2.00 X 0 0 0 John Minter Treasurer of the Board 2.00 X 0 0 0 Doug Ruby Board Member 2.00 X 0 0 0 Rod Gilbert Head of School 40.00 X 212558 0 18962 William Brydon Athletic Director 40.00 X 104901 0 12297 Craig Doerksen Head of High School 40.00 X 104224 0 15905 Bryan Gustin Director of Technology 40.00 X 104513 0 18962 526196 0 66126 4 0 1 0 Lakeland Holdings LLC 218 West Water Street Suite 400 Charlottesville VA 22902 Education 409788 JK Commercial Cleaning PO Box 91121 Austin TX 78709 Cleaning 113518 2 1987739 159867 1987739 Tuition and fees 611710 13875734 13875734 Auxiliary income 611710 1058229 1058229 14933963 23741 23741 236 -236 -236 -236 650888 471056 179832 179832 17125039 14933963 0 203337 1305657 1305657 685193 548537 136656 7612458 6094221 1518237 1402535 1122812 279723 579656 464049 115607 101340 72965 28375 28067 20208 7859 29279 21081 8198 1553662 1475979 77683 49961 35972 13989 1373137 1304480 68657 107308 101943 5365 Direct Program and inst 1777456 1777456 Events 123348 88811 34537 Bad debt expense 51088 36783 14305 Fundraising 44626 44626 61987 44630 17357 16886758 14560210 2326548 0 5316379 5473994 36966 37876 738397 1151891 103765 196241 182080 43070521 11684477 32383712 31386044 132222 172159 39217411 38094315 533893 744687 6052246 6585612 3965979 1860898 10552118 9191197 X 28665293 28274823 628295 28665293 28903118 39217411 38094315 238281 -455 0 X 0 1 X 1 0 X 6574096 2421811 4042500 1949820 1987739 16975966 6574096 2421811 4042500 1949820 1987739 16975966 16975966 2184 8826 1329 10463 203337 226139 17202105 65153602 0.98690 0.88170 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1235383 339947 64483 53895 1585918 1235465 49419 52287 101788 1235383 997718 116476 161180 39909 1235465 897398 1265 103755 4700 997718 609297 290319 22154 24372 897398 0 1 1 9373789 9373789 26146796 6526958 19619838 1688631 168863 1519768 4330469 3798366 532103 1530836 1190290 340546 31386044 Compass Bank - Line of Credit 488329 Loan Payable 1372569 1860898 X 15818927 -455 -455 15819382 1305657 1305657 17125039 15581101 0 15581101 1305657 1305657 16886758 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, 2016 or 2015, 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. The School is generally no longer subject to tax examinations relating to US federal tax returns for years prior to fiscal year ended June 30, 2010. Part XI, Line 4b - Other Adjustments: Tuition assistance netted against Tuition income 1,305,657. Part XII, Line 4b - Other Adjustments: Tuition assistance netted against Tuition income 1,305,657. 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." X Gala 496953 496953 471056 Regent Cup 127043 127043 1 26892 26892 650888 650888 471056 471056 179832 1 Tuition Assistance 1305657 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 212558 0 0 0 0 0 0 0 18962 0 231520 0 0 0 X Gala non cash donation 897 159867 FMV 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 11 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 Heads 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) Regents School of Austin 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Regents Financial Assistance Endowment Fund (dba Regents Endowment Fund) B 339947 Cost