THE CHARTER SCHOOL AT WATERSTONE INC: Form 990, tax year 2011

View the entire original 990 at ProPublica ↗

Organization: THE CHARTER SCHOOL AT WATERSTONE INC (EIN 20-2696298)
Tax period: 2011-07-01 to 2012-06-30
Filed: 2012-11-01
IRS object ID: 201233069349300508
Schema version: 2011v1.2
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule A
Schedule D
Schedule E
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2012-11-01T07:38:25-07:00	Timestamp
Tax Period End Date	2012-06-30	TaxPeriodEndDate

Preparer Firm PreparerFirm

Preparer Firm Business Name PreparerFirmBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	ROBERT WALKER CPA PA	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	709 W AZEELE ST	AddressLine1
City	TAMPA	City
State	FL	State
ZIP Code	33606	ZIPCode

Field	Value	IRS element (for citing)
Return Type	990	ReturnType
Tax Period Begin Date	2011-07-01	TaxPeriodBeginDate

Filer Filer

Field	Value	IRS element (for citing)
EIN	202696298	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	THE CHARTER SCHOOL AT WATERSTONE INC	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	CHAR	NameControl
Phone	3052486206	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	855 WATERSTONE WAY	AddressLine1
City	HOMESTEAD	City
State	FL	State
ZIP Code	33033	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	NATHANIEL GRASCH	Name
Title	CHAIRMAN	Title
Phone	3052486206	Phone
Date Signed	2012-11-01	DateSigned
Authorize Third Party	true	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	ROBERT WALKER CPA	Name
Phone	8136248643	Phone
Date Prepared	2012-11-01	DatePrepared
Self Employed	X	SelfEmployed

Field	Value	IRS element (for citing)
Tax Year	2011	TaxYear
Build TS	2016-02-24 21:20:13Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	NATHANIEL GRASCH	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	855 WATERSTONE WAY	AddressLine1
City	HOMESTEAD	City
State	FL	State
ZIP Code	33033	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	7893954	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
Organization501c3	X	Organization501c3
Web Site	N/A	WebSite
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	2004	YearFormation
State Legal Domicile	FL	StateLegalDomicile
Activity Or Mission Description	TO OPERATE A CHARTER SCHOOL IN MIAMI-DADE COUNTY, FLORIDA.	ActivityOrMissionDescription
Nbr Voting Members Governing Body	4	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	4	NbrIndependentVotingMembers
Total Nbr Employees	92	TotalNbrEmployees
Total Nbr Volunteers	25	TotalNbrVolunteers
Total Gross UBI	0	TotalGrossUBI
Contributions Grants Prior Year	1015768	ContributionsGrantsPriorYear
Contributions Grants Current Year	1043450	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	7938783	ProgramServiceRevenuePriorYear
Program Service Revenue CY	6495931	ProgramServiceRevenueCY
Investment Income Current Year	0	InvestmentIncomeCurrentYear
Other Revenue Prior Year	345590	OtherRevenuePriorYear
Other Revenue Current Year	354573	OtherRevenueCurrentYear
Total Revenue Prior Year	9300141	TotalRevenuePriorYear
Total Revenue Current Year	7893954	TotalRevenueCurrentYear
Grants And Similar Amnts CY	0	GrantsAndSimilarAmntsCY
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Current Year	0	SalariesEtcCurrentYear
Total Prof Fundrsng Exp CY	0	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	0	TotalFundrsngExpCurrentYear
Other Expense Prior Year	8927576	OtherExpensePriorYear
Other Expenses Current Year	8392763	OtherExpensesCurrentYear
Total Expenses Prior Year	8927576	TotalExpensesPriorYear
Total Expenses Current Year	8392763	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	372565	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	-498809	RevenuesLessExpensesCY
Total Assets BOY	3295149	TotalAssetsBOY
Total Assets EOY	2647948	TotalAssetsEOY
Total Liabilities BOY	655188	TotalLiabilitiesBOY
Total Liabilities EOY	506796	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	2639961	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	2141152	NetAssetsOrFundBalancesEOY
Mission Description	TO OPERATE A CHARTER SCHOOL IN	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Expense	7185138	Expense
Revenue	7893954	Revenue
Description	THE CHARTER SCHOOL PROVIDES EDUCATIONAL SERVICES TO STUDENTS IN GRADES K-8.	Description
Total Program Service Expense	7185138	TotalProgramServiceExpense
Described In501 C3	true	DescribedIn501C3
Schedule B Required	false	ScheduleBRequired
Political Activities	false	PoliticalActivities
Lobbying Activities	false	LobbyingActivities
Subject To Proxy Tax	false	SubjectToProxyTax
Donor Advised Funds	false	DonorAdvisedFunds
Conservation Easements	false	ConservationEasements
Collections Of Art	false	CollectionsOfArt
Credit Counseling	false	CreditCounseling
Term Or Permanent Endowments	false	TermOrPermanentEndowments
Report Land Bldg Equip	true	ReportLandBldgEquip
Report Invest Oth Securities	false	ReportInvestOthSecurities
Report Prog Rel Invest	false	ReportProgRelInvest
Report Other Assets	false	ReportOtherAssets
Report Other Liabilities	false	ReportOtherLiabilities
Report Fin48 Footnote	false	ReportFin48Footnote
Independent Audit Financial Stmt	true	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	false	ConsolidatedAuditFinancialStmt
School	true	School
Foreign Office	false	ForeignOffice
Foreign Activities	false	ForeignActivities
More Than5000 K To Organizations	false	MoreThan5000KToOrganizations
More Than5000 K To Individuals	false	MoreThan5000KToIndividuals
Professional Fundraising	false	ProfessionalFundraising
Fundraising Activities	false	FundraisingActivities
Gaming	false	Gaming
Hospital	false	Hospital
Grants To Organizations	false	GrantsToOrganizations
Grants To Individuals	false	GrantsToIndividuals
Schedule J Required	false	ScheduleJRequired
Tax Exempt Bonds	false	TaxExemptBonds
Excess Benefit Transaction	false	ExcessBenefitTransaction
Prior Excess Benefit Transaction	false	PriorExcessBenefitTransaction
Loan To Officer Or DQP	false	LoanToOfficerOrDQP
Grant To Related Person	false	GrantToRelatedPerson
Bsnss Rltnshp With Organization	false	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	false	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	false	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	false	DeductibleNonCashContributions
Deductible Contributions Of Art	false	DeductibleContributionsOfArt
Terminated	false	Terminated
Partial Liquidation	false	PartialLiquidation
Disregarded Entity	false	DisregardedEntity
Related Entity	false	RelatedEntity
Related Org Controlled Entity	false	RelatedOrgControlledEntity
Transaction Related Entity	false	TransactionRelatedEntity
Activities Conducted Partnership	false	ActivitiesConductedPartnership
Schedule O Required	true	ScheduleORequired
Number Forms Transmitted With1096	0	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	true	ComplianceWithBackupWitholding
Number Of Employees	92	NumberOfEmployees
Employment Tax Returns Filed	true	EmploymentTaxReturnsFiled
Unrelated Business Income	false	UnrelatedBusinessIncome
Foreign Financial Account	false	ForeignFinancialAccount
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTrans
Taxable Party Notification	false	TaxablePartyNotification
Non Deductible Contributions	false	NonDeductibleContributions
Quid Pro Quo Contributions	false	QuidProQuoContributions
Form8282 Property Disposed Of	false	Form8282PropertyDisposedOf
Funds To Pay Premiums	false	FundsToPayPremiums
Premiums Paid	false	PremiumsPaid
Excess Business Holdings	false	ExcessBusinessHoldings
Taxable Distributions	false	TaxableDistributions
Distribution To Donor	false	DistributionToDonor
Indoor Tanning Services	false	IndoorTanningServices
Info In Schedule O Part VI	X	InfoInScheduleOPartVI
Nbr Voting Governing Body Members	4	NbrVotingGoverningBodyMembers
Number Independent Voting Members	4	NumberIndependentVotingMembers
Family Or Business Relationship	false	FamilyOrBusinessRelationship
Delegation Of Management Duties	false	DelegationOfManagementDuties
Changes To Organizing Docs	false	ChangesToOrganizingDocs
Material Diversion Or Misuse	false	MaterialDiversionOrMisuse
Members Or Stockholders	false	MembersOrStockholders
Election Of Board Members	false	ElectionOfBoardMembers
Decisions Subject To Approval	false	DecisionsSubjectToApproval
Minutes Of Governing Body	true	MinutesOfGoverningBody
Minutes Of Committees	true	MinutesOfCommittees
Officer Mailing Address	false	OfficerMailingAddress
Local Chapters	false	LocalChapters
Form990 Provided To Governing Body	true	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	true	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	true	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	true	RegularMonitoringEnforcement
Whistleblower Policy	false	WhistleblowerPolicy
Document Retention Policy	true	DocumentRetentionPolicy
Compensation Process CEO	false	CompensationProcessCEO
Compensation Process Other	true	CompensationProcessOther
Investment In Joint Venture	false	InvestmentInJointVenture
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Field	Value	IRS element (for citing)
Name Person	SCHOOL FINANCIAL SERVICES INC	NamePerson
Telephone Number	8505474566	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	116 PENNSYLVANIA AVE	AddressLine1
City	BONIFAY	City
State	FL	State
ZIP Code	32425	ZIPCode

Field	Value	IRS element (for citing)
No Listed Persons Compensated	X	NoListedPersonsCompensated

Form990 Part VII Section A Form990PartVIISectionA (5 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Key EmployeeKeyEmployee	Individual Trustee Or DirectorIndividualTrusteeOrDirector
MELISSA AGUILAR
PRINCIPAL	40.00	X
NATHANIEL GRASCH
CHAIRMAN	0.50		X
HELENA DEL MONTE
VICE CHAIRMAN	0.50		X
BASSEMA ISKANDARANI
DIRECTOR	0.50		X
DALILA RUIZ
DIRECTOR	0.50		X

Field	Value	IRS element (for citing)
Formers Listed	false	FormersListed
Total Comp GT150 K	false	TotalCompGT150K
Compensation From Other Sources	false	CompensationFromOtherSources

Contractor Compensation ContractorCompensation

Name Of Contractor NameOfContractor

Name Business NameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	CHARTER SCHOOL ASSOCIATES INC	BusinessNameLine1

Address Of Contractor AddressOfContractor

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	12524 W ATLANTIC BLVD	AddressLine1
City	CORAL SPRINGS	City
State	FL	State
ZIP Code	33071	ZIPCode

Field	Value	IRS element (for citing)
Description Of Services	MANAGEMENT	DescriptionOfServices
Compensation	642798	Compensation

Field	Value	IRS element (for citing)
Number Of Contractors GT100 K	1	NumberOfContractorsGT100K
Government Grants	1043450	GovernmentGrants
Total Contributions	1043450	TotalContributions

Program Service Revenue ProgramServiceRevenue (2 entries)

DescriptionDescription	Business CodeBusinessCode	Total Revenue ColumnTotalRevenueColumn
FTE-PER STUDENT FUNDING	900099	6347618
STUDENT LUNHCES	900099	148313

Field	Value	IRS element (for citing)
Total Program Service Revenue	6495931	TotalProgramServiceRevenue

Other Revenue Misc OtherRevenueMisc

Field	Value	IRS element (for citing)
Description	OTHER MISC. REVENUE	Description
Business Code	900099	BusinessCode
Total Revenue Column	354573	TotalRevenueColumn
Related Or Exempt Function Income	354573	RelatedOrExemptFunctionIncome

Field	Value	IRS element (for citing)
Total Other Revenue	354573	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	7893954	TotalRevenueColumn
Related Or Exempt Function Income	6850504	RelatedOrExemptFunctionIncome

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	63839	Total
Program Services	63839	ProgramServices
Management And General	0	ManagementAndGeneral
Fundraising	0	Fundraising

Other Expenses OtherExpenses (4 entries)

DescriptionDescription	TotalTotal	Program ServicesProgramServices
INSTRUCTION	3667127	3667127
PUPIL PERSONNEL SERVICES	58718	58718
INSTRUCTIONAL MEDIA	235	235
INSTRUCTION & CURRICULUM DEVELOPMENT	18	18

All Other Expenses AllOtherExpenses

Field	Value	IRS element (for citing)
Total	4602826	Total
Program Services	3395201	ProgramServices
Management And General	1207625	ManagementAndGeneral
Fundraising	0	Fundraising

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	8392763	Total
Program Services	7185138	ProgramServices
Management And General	1207625	ManagementAndGeneral
Fundraising	0	Fundraising

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	2747350	BOY
EOY	2282623	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	139078	BOY
EOY	45391	EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

Field	Value	IRS element (for citing)
BOY	163277	BOY
EOY	120627	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	847100	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	647793	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	245444	BOY
EOY	199307	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	3295149	BOY
EOY	2647948	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	655188	BOY
EOY	506796	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	655188	BOY
EOY	506796	EOY

Field	Value	IRS element (for citing)
Do Not Follow SFAS117	X	DoNotFollowSFAS117

Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund

Field	Value	IRS element (for citing)
BOY	245444	BOY
EOY	199307	EOY

Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc

Field	Value	IRS element (for citing)
BOY	2394517	BOY
EOY	1941845	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	2639961	BOY
EOY	2141152	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	3295149	BOY
EOY	2647948	EOY

Field	Value	IRS element (for citing)
Reconcilation Revenue Expenses	-498809	ReconcilationRevenueExpenses
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	false	AccountantCompileOrReview
FS Audited	true	FSAudited
Audit Committee	true	AuditCommittee
Financial Statement Separate	X	FinancialStatementSeparate
Federal Grant Audit Required	true	FederalGrantAuditRequired
Federal Grant Audit Performed	true	FederalGrantAuditPerformed

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
School170b1 Aii	X	School170b1Aii
Public Support Total170	0	PublicSupportTotal170

Gross Investment Income170 GrossInvestmentIncome170

Field	Value	IRS element (for citing)
Total	0	Total

Field	Value	IRS element (for citing)
Public Support Pertcentage170	0	PublicSupportPertcentage170
Public Support Total509	0	PublicSupportTotal509
Public Support Percentage509	0	PublicSupportPercentage509
Investment Income Percentage	0	InvestmentIncomePercentage

Schedule D IRS990ScheduleD

Leasehold Improvements LeaseholdImprovements

Field	Value	IRS element (for citing)
Investment Cost Or Other Basis	86655	InvestmentCostOrOtherBasis
Depreciation	47610	Depreciation
Book Value	39045	BookValue

Equipment Equipment

Field	Value	IRS element (for citing)
Investment Cost Or Other Basis	760445	InvestmentCostOrOtherBasis
Depreciation	600183	Depreciation
Book Value	160262	BookValue

Field	Value	IRS element (for citing)
Total Of Book Value Land Buildings	199307	TotalOfBookValueLandBuildings
Total Revenue	7893954	TotalRevenue
Total Expenses	8392763	TotalExpenses
Excess Or Deficit For Year	-498809	ExcessOrDeficitForYear
Excess Or Deficit Per FS	-498809	ExcessOrDeficitPerFS

Schedule E IRS990ScheduleE

Field	Value	IRS element (for citing)
Nondiscriminatory Policy Stmt	true	NondiscriminatoryPolicyStmt
Policy Statement In Brochures Etc	true	PolicyStatementInBrochuresEtc
Policy Publ Via Broadcast Media	true	PolicyPublViaBroadcastMedia
Maint Racial Composition Records	true	MaintRacialCompositionRecords
Maint Scholarships Records	true	MaintScholarshipsRecords
Maint Copies Of Brochures Etc	true	MaintCopiesOfBrochuresEtc
Maint Copies Of All Solicitations	true	MaintCopiesOfAllSolicitations
Discriminate Race Students Rights	false	DiscriminateRaceStudentsRights
Discriminate Race Admiss Policies	false	DiscriminateRaceAdmissPolicies
Discriminate Race Emplmn Faculty	false	DiscriminateRaceEmplmnFaculty
Discriminate Race Scholarships	false	DiscriminateRaceScholarships
Discriminate Race Educ Policies	false	DiscriminateRaceEducPolicies
Discriminate Race Use Of Fclts	false	DiscriminateRaceUseOfFclts
Discriminate Race Athletic Prog	false	DiscriminateRaceAthleticProg
Discriminate Race Other Acty	false	DiscriminateRaceOtherActy
Government Financial Aid Received	true	GovernmentFinancialAidReceived
Government Financial Aid Revoked	false	GovernmentFinancialAidRevoked
Compliance With Rev Proc7550	true	ComplianceWithRevProc7550

Form990 Schedule E Part II Form990ScheduleEPartII (2 entries)

IdentifierIdentifier	ExplanationExplanation
Line 3	THE ORGANIZATION PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY THROUGH BROCHURES, NEWSLETTERS, LOCAL NEIGHBORHOOD EVENTS, NEWSPAPERS, OPEN HOUSES AND VIDEOS.
Line 6b	RECEIVES GRANTS THROUGH THE FLORIDA DEPT OF EDUCATION

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (9 entries)

IdentifierIdentifier	ExplanationExplanation
Pt VI, Line 11a	THE 990 IS PREPARED BY AN INDEPENDENT CPA FIRM AND A
	DRAFT IS PROVIDED TO THE FINANCE COMMITTEE FOR REVIEW.
	THE FINAL 990 IS PROVIDED TO THE BOARD FOR APPROVAL.
Pt VI, Line 12c	AT EACH BOARD MEETING, THE AGENDA IS NOTATED TO REMIND
	BOARD MEMBERS TO RECLUSE FROM VOTING ON ANY ITEM THAT
	MAY BE A CONFLICT OF INTEREST.
Pt VI, Line 15	THE PRINCIPAL IS PAID IN ACCORDANCE WITH THE SCHOOL
	DISTRICT'S PAY SCALE.
Form 990, Part IX, Line 24f	INSTRUCTIONAL STAFF TRAINING 500. 500. 0. 0. INSTRUCTIONAL RELATED TECHNOLOGY 29588. 29588. 0. 0. BOARD 725416. 0. 725416. 0. SCHOOL ADMINISTRATION 477857. 0. 477857. 0. FACILITIES ACQ. & CONSTRUCTION 1203023. 1203023. 0. 0. FISCAL SERVICES 8704. 4352. 4352. 0. FOOD SERVICES 1113746. 1113746. 0. 0. PUPIL TRANSPORTATION 210600. 210600. 0. 0. OPERATION OF PLANT 706093. 706093. 0. 0. MAINTENANCE OF PLANT 33961. 33961. 0. 0. COMMUNITY SERVICES 93338. 93338. 0. 0.