2014-05-14T09:45:58-05:00 2013-06-30 204193611 Batts Morrison Wales & Lee PA 801 North Orange Avenue Suite 800 Orlando FL 32801 990 2012-07-01 590624431 Lake Highland Preparatory School Inc LAKE 4072061900 901 North Highland Avenue Orlando FL 32803 James Bartlett 4072061900 2014-05-08 1 Michele M Wales P00428093 4077706000 2014-05-08 2012 2015-11-30 17:44:51Z James Bartlett 901 North Highland Avenue Orlando FL 32803 38515729 0 X www.lhps.org X 1941 FL Instilling Christian values, inspiring patriotism, developing future leaders & preparing students 17 14 511 250 0 0 1539203 2253498 33620893 34322891 -161584 -110942 785660 1101527 35784172 37566974 0 0 0 0 20288873 21070379 0 0 528359 14571777 14003701 34860650 35074080 923522 2492894 69897095 73497056 51380547 50474432 18516548 23022624 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 29562537 32391533 Instructional and Student Activities:Approximately 2,001 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 by a staff of fully certified teachers. 774283 2313892 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. 30336820 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 1 1 0 0 0 1 120 0 1 511 1 0 0 0 0 0 0 0 0 0 0 X 17 14 1 0 1 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 2.50 0.10 X X 0 0 0 Mike Mikkelson 2.50 0.10 X X 0 0 0 Steve L Blomeley 2.50 0.10 X X 0 0 0 Robert W Meherg 2.50 0.10 X X 0 0 0 Jeffrey Deery 3.00 0.10 X X 0 0 0 Charles E Bradshaw Jr 1.00 0.10 X 0 0 0 Haley D Bronson 2.00 X 0 0 0 Sidney G Cash 1.00 X 0 0 0 Joseph S Guernsey 1.00 0.10 X 0 0 0 Alfred G Harms Jr 1.00 X 0 0 0 Karen O'Neill-Arredondo 1.00 X 0 0 0 Robert W Peacock Jr 1.00 0.10 X 0 0 0 Charles W Rex Jr 1.00 0.10 X 0 0 0 Randall L Rex 1.00 0.10 X 0 0 0 Hope Roll 0.50 X 0 0 0 Jay E Whitehurst 4.00 0.10 X 0 0 0 David Yergey 2.00 X 0 0 0 Peter Fox 1.00 0.10 X 0 0 0 Warren P Hudson 40.00 X 336075 0 70846 James W Bartlett 40.00 1.00 X 196187 0 32616 Susan B Clayton 40.00 X 158440 0 25936 Francis Prendergast 40.00 X 126819 0 38586 David M Bernatavitz 40.00 X 121669 0 21672 Michael H Curley 40.00 X 109488 0 36204 Michael Jakubisin 40.00 X 111016 0 20533 1159694 0 246393 10 0 1 0 Florida Cleaning Systems 624 Douglas Avenue Suite 1420 Altamonte Springs FL 32714 Cleaning services 569517 Ricoh USA Inc PO Box 534777 Atlanta GA 30353 Printing & mail services 367222 Sodexo Services c/o LHPS 901 North Highland Drive Orlando FL 32803 Employee lunches, catering 288819 Paul Lynch Enterprises Inc 35922 Willow Way Eustis FL 32736 Construction 279936 Charles Clayton Construction 2250 Lee Road Suite 120 Winter Park FL 32789 Construction 264091 12 2253498 129981 2253498 Tuition & fees 611710 31460196 31460196 Auxiliary activities 611710 2313892 2313892 Finance charges 525990 391496 391496 Aftercare 611710 157307 157307 34322891 66670 66670 73396 0 73396 73396 73396 177612 -177612 -177612 -177612 1239128 771143 467985 467985 Other revenue 900099 560146 560146 560146 37566974 34705425 0 608051 653554 103459 425945 124150 15757833 13967674 1515012 275147 1525328 1375558 149770 1889028 1681689 207339 1244636 1094491 150145 15938 15938 72492 72492 1224313 613390 610923 157655 25144 3449 129062 186963 176061 10902 978373 860348 118025 1577592 1387281 190311 2254724 1982727 271997 304303 267594 36709 Maintenance & repairs 2491736 2191149 300587 Student activities 2343801 2343801 General operating 1380017 1260717 119300 Athletics 932457 932457 83337 73280 10057 35074080 30336820 4208901 528359 14425377 18609528 290087 642911 154198 336419 288147 264548 261538 388686 526931 270390 70631184 25737246 45163075 44893938 222553 19730 8565189 8070906 69897095 73497056 5641584 6166724 7290495 8784279 31725000 30825000 6723468 4698429 51380547 50474432 X 16640033 21165967 1876515 1856657 18516548 23022624 69897095 73497056 X 2492894 -11857 2025039 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 272837 266190 26521 565548 218181 53075 1581 272837 166871 40000 18915 7605 218181 156346 1000 9525 166871 166743 5000 -15397 156346 1.00000 0 1 1 4311207 4311207 49437335 14631177 34806158 8512736 7153531 1359205 8369906 3952538 4417368 44893938 Assets held by Lake Highland Preparatory School Foundation, Inc. 5449363 Unamortized bond issuance costs 321837 Due from OS Complex, Inc. 2299706 8070906 Interest rate swap liability 4698429 4698429 X Description of Intended Use of Endowment Funds: 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. Description of Uncertain Tax Positions Under FIN 48: 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. Federal and state tax authorities may generally examine the Organization's income tax positions or (if applicable) returns for periods of approximately three to six years. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Explanation of Nondiscriminatory Policy Publication 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. X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Warren P Hudson 315925 0 20150 0 0 0 32440 0 38406 0 406921 0 0 0 James W Bartlett 196037 0 150 0 0 0 25321 0 7295 0 228803 0 0 0 Susan B Clayton 156391 0 150 0 1899 0 18641 0 7295 0 184376 0 0 0 Francis Prendergast 113275 0 150 0 13394 0 13922 0 24664 0 165405 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 VP of Advancement. 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 1 0 1 1 Wells Fargo 20.200000000000 0 0 0 0 0 A 0 Schedule K, Part IV, Line 7: The Organization does not engage in arbitrage and therefore, the establishment of written procedures to monitor the requirements of section 148 is not deemed necessary. 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, such procedures are being implemented under the advice of bond counsel in 2014. 0 Debra Deery Family relationship with board member 52770 Employment 0 Courtney Santiago Family relationship with board member 27017 Employment 0 Charles Clayton Const Inc 35% control. entity 264091 See below 0 (a) Name of Person: Charles Clayton Construction, Inc.(b) Relationship Between Interested Person and Organization:More than 35% owned by Charles Clayton, family member of board member(d) Description of Transaction: The Organization paid Charles Clayton Construction, Inc. $264,091 for construction and renovation services. The contract for services was approved by independent members of the Organization's Board of Trustees, in conformity with provisions of the Organization's conflicts of interest policy. X 5 122981 Fair Market Value X Musical Equipment 1 7000 Fair Market Value 0 0 1 0 Method for Determining Number of Contributions: Part I, Column (b): The Organization is reporting in Part I, column (b), the number of contributions received. Form 990, Part VI, Section A, line 2 Randall L. Rex and Charles W. Rex, Jr. have a family relationship. Form 990, Part VI, Section A, line 4 The Organization amended its bylaws to include its conflicts of interest policy. Form 990, Part VI, Section B, line 11 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 provides, upon request, copies of its Articles of Incorporation, bylaws, and its conflict of interest policy. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 9: Change in FMV of Interest Rate Swap 2,025,039. Form 990, Part XI, 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, 2013 included the following trustees: Steve L. Blomeley, Charles E. Bradshaw, Jr., Peter F. Fox, Joseph S. Guernsey, Dr. David Jablonski, Mike Mikkelson, Robert W. Peacock, Jr., Charles W. Rex, Jr., Randall L. Rex, Jeffrey Deery, and Jay E. Whitehurst. 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 also reviews and approves the President's proposed annual budget, which is then submitted to the full Board for review and approval. 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 I N/A 1 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 Lake Highland Preparatory School Foundation Inc S 500074 Actual amt transferred