2012-11-30T16:42:25-06:00 2012-06-30 942513310 LAUTZE & LAUTZE 303 SECOND STREET SUITE 950N SAN FRANCISCO CA 94107 990 2011-07-01 943250488 SEA CREST SCHOOL INC SEAC 6507129892 901 ARNOLD WAY HALF MOON BAY CA 94019 THOMAS WALTERS 6507129892 2012-11-26 1 ROGER BULOSAN P00221282 4155436900 2011 2016-02-24 21:20:13Z THOMAS WALTERS 901 ARNOLD WAY HALF MOON BAY CA 94019 4279223 0 X WWW.SEACRESTSCHOOL.ORG X 1996 CA SEA CREST SCHOOL IS DEDICATED TO PROVIDING THE BEST IN INNOVATIVE EDUCATION TO INSPIRE AND EMPOWER ITS LEARNERS TO ENGAGE CURIOSITY, EXPRESS CREATIVITY, ACT WITH COMPASSION AND LEAD WITH COURAGE. 15 15 61 210 0 0 360938 395785 3313075 3779995 7343 8486 41213 36621 3722569 4220887 295026 338929 0 0 2212879 2701393 8800 52800 52800 869766 988117 3386471 4081239 336098 139648 8148941 8748940 6952031 7309822 1196910 1439118 SEA CREST SCHOOL IS AN INDEPENDENT COASTSIDE COMMUNITY SCHOOL THAT STRIVES TO PROVIDE AN EXCEPTIONAL AND AFFORDABLE ENVIRONMENT FOR ACADEMIC ACHIEVEMENT, INTELLECTUAL GROWTH, ARTISTIC FULFILLMENT, ATHLETIC DEVELOPMENT, AND CIVIC RESPONSIBILITY. 0 0 2905046 338929 3633120 SEA CREST SCHOOL IS A COMMUNITY WHERE ENGAGED K-8 STUDENTS ARE INSPIRED TO THINK CRITICALLY, EXPRESS THEIR CREATIVITY, AND ACT WITH PERSONAL INTEGRITY. STUDENTS ARE CHALLENGED TO DO THEIR PERSONAL BEST AND GROW EACH DAY WITHIN A CARING AND SUPPORTIVE ENVIRONMENT. 91363 146875 AUXILIARY SERVICES PROVIDE AFTERSCHOOL PROGRAMS FOR ATHLETICS, MUSIC, SCIENCE AND OTHER ENRICHMENT PROGRAMS, SUPERVISED AFTERSCHOOL CARE AND SUMMER ENRICHMENT PROGRAMS. 2996409 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 21 0 1 61 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 1 1 1 1 0 CA X KELLY SPAETH BUSINESS MANAGER 6507129892 901 ARNOLD WAY HALF MOON BAY CA 94019 PAMELA IZZO 0.00 X X 0 0 0 KEITH FUKUI 0.00 X X 0 0 0 DAVID HOSILYK 0.00 X X 0 0 0 BERRY FRANKLIN 0.00 X 0 0 0 GREG JOSWIAK 0.00 X 0 0 0 JOHN DEMPSEY 0.00 X 0 0 0 LAURA LEBER KAMMEYER 0.00 X 0 0 0 GRETCHEN MCDOUGALL 0.00 X 0 0 0 SUSAN MIHARA 0.00 X 0 0 0 SHERI OLSON 0.00 X 0 0 0 CATHY SHELBURNE 0.00 X 0 0 0 BRICE TARLING 0.00 X 0 0 0 ANDRE TURENNE 0.00 X 0 0 0 AMY RAMSEY 0.00 X 0 0 0 BRUCE POLLOCK 55.00 X X 194250 0 277318 KELLY SPAETH 40.00 X 84000 0 14587 278250 0 291905 1 0 1 0 0 180315 215470 395785 TUITION 611600 3633120 3633120 AUXILIARY SERVICES 611600 146875 146875 3779995 8486 8486 34293 0 34293 34293 34293 58336 180315 58336 0 MISC. INCOME 611600 2328 2328 2328 4220887 3779995 0 45107 X 338929 338929 561654 138600 423054 1678176 1584509 93667 117372 90470 26902 174700 133181 41519 169491 116086 53405 26000 26000 52800 52800 3564 3564 11261 11261 57020 39057 17963 12086 12086 71629 62567 9062 1573 1573 4538 4463 75 215830 215830 238876 191100 47776 55232 28923 26309 CURRICULUM, CLASSROOM S 102005 102005 MAINTENANCE, EQUIPMENT 91569 77371 14198 ALL OTHERS 58213 36007 22206 ATHLETICS PROGRAM 24705 24705 14016 11213 2803 4081239 2996409 1032030 52800 155367 137142 1977358 2525449 364126 160458 61259 73251 6517024 1904763 4581598 4612261 759314 1011506 249919 228873 8148941 8748940 268452 540105 1996003 2255089 4435000 4365000 252576 149628 6952031 7309822 X 1155711 1409157 27885 16455 13314 13506 1196910 1439118 8148941 8748940 X 139648 102560 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 23314 191 23505 3000 17000 3314 23314 3000 3000 0.43000 0.57000 0 0 870118 870118 5211276 1674808 3536468 394630 229955 164675 41000 41000 4612261 WFB PROJECT FUND 198000 F COMERICA RESERVE FUND CD 290000 F COMERICA CD BROKERAGE ACCOUNT 500000 F VANGUARD ENDOWMENT INVESTMENTS 23506 F 1011506 INTEREST RATE SWAP AGREEMENT 149628 149628 4220887 4081239 139648 -388 102948 102560 242208 3940294 58336 58336 3881958 338929 338929 4220887 3698086 -44224 -44224 3742310 338929 338929 4081239 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE SCHOOL'S ENDOWMENT CONSISTS OF ONE INDIVIDUAL FUND ESTABLISHED FOR THE LONG TERM FINANCIAL BENEFIT OF THE SCHOOL AND ITS EDUCATIONAL GOALS AND OBJECTIVES THROUGH PROVIDING ANNUAL SUPPORT FOR THE SCHOOL. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE SCHOOL HAS ADOPTED THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN, OR EXPECTED TO BE TAKEN, IN A TAX RETURN AND REQUIRES THE AFFIRMATIVE EVALUATION THAT IS MORE-LIKELY-THAN-NOT, BASED ON THE TECHNICAL MERITS OF A TAX POSITION, THAT AN ENTERPRISE IS ENTITLED TO ECONOMIC BENEFITS RESULTING FROM TAX POSITIONS TAKEN IN INCOME TAX RETURNS. FOR TAX EXEMPT ENTITIES, FAVORABLE TAX STATUS ITSELF IS DEEMED TO BE AN UNCERTAINTY, AS EVENTS COULD POTENTIALLY OCCUR TO JEOPARDIZE THEIR TAX-EXEMPT STATUS. IF A TAX POSITION DOES NOT MEET THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD, THE BENEFIT OF THAT POSITION IS NOT RECOGNIZED IN THE FINANCIAL STATEMENTS. THE SCHOOL'S EVALUATION ON JUNE 30, 2012 REVEALED NO TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS. THE 2008 THROUGH 2011 TAX YEARS REMAIN SUBJECT TO EXAMINATION BY THE IRS. IN ADDITION, THE 2007 THROUGH 2011 TAX YEARS REMAIN SUBJECT TO EXAMINATION BY CALIFORNIA. THE SCHOOL DOES NOT BELIEVE THAT ANY REASONABLY POSSIBLE CHANGES WILL OCCUR WITHIN THE NEXT TWELVE MONTHS THAT WILL HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT 102,948. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUND RAISING - DIRECT EXPENSES 58,336. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID TO INDIVIDUALS 338,929. PART XIII, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT -102,948. FUND RAISING - DIRECT EXPENSES 58,336. UNREALIZED GAIN ON RESTRICTED INVESTMENTS 388. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID TO INDIVIDUALS 338,929. 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 SEA CREST PUBLICIZES ITS NON-DISCRIMINATION POLICY ANNUALLY IN THE SAN FRANCISCO CHRONICLE. LAST PUBLICATION WAS MAY 18, 2012. X X X X X 1 WRIGHT CONSULTING 14 ASHDOWN PLACE HALF MOON BAY CA 94019 FUNDRAISING CONSULTING 0 0 0 0 CA AUCTION 163694 124955 38739 10608 600 27531 SCHOLARSHIP RUN 39090 36191 2899 2899 9 33771 19169 14602 14602 236555 180315 56240 10608 600 45032 56240 0 1 FINANCIAL ASSISTANCE FOR TUITION FMV TUITION ASSISTANCE PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: SEA CREST REQUIRES FINANCIAL DISCLOSURE AND PRIOR TAX RETURNS FROM APPLICANTS FOR ASSISTANCE. DECISIONS ARE BASED ON THE FAMILIES CALCULATED ABILITY TO PAY (USING SSS METHODOLOGY) AND THE POOL OF FUNDS AVAILABLE. RECORDS ARE MAINTAINED INDIVIDUALLY FOR EACH FAMILY. X X 1 0 X X X 1 0 0 0 0 0 0 0 0 BRUCE POLLOCK 161250 0 0 0 33000 0 248426 0 28892 0 471568 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL BRUCE POLLOCK RECEIVES $33,000 PER YEAR FOR HOUSING ALLOWANCE AND USE OF PERSONAL RESIDENCE FOR SCHOOL FUNCTIONS, WHICH IS PAID THROUGH PAYROLL. PART I, LINE 4A THE AUDITED FINANCIAL STATEMENTS AND FORM 990 INCLUDE AN ACCRUAL OF $195,000 FOR A CONTRACTUAL OBLIGATION TO BRUCE POLLOCK, THE NOW FORMER HEAD OF SCHOOL. THIS PAYMENT AND HIS BENEFITS WILL BE PAID RATABLY OVER THE YEAR ENDING JUNE 30, 2013, AND WILL CEASE AT THAT DATE. CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 943250488 130795VV6 2008-08-14 4500000 ACQUISITION, CONSTRUCTION, IMPROVEMENT OF THE SCHOOL 0 0 0 4500000 196000 272287 2008 0 1 1 1 0 0 0 0 0 0 1 1 COMERICA BANK 5.000000000000 1 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 8B COMMITTEE MEETINGS WERE HELD AND MINUTES WERE NOT ALWAYS TAKEN, BUT NO COMMITTEE TOOK ACTION ON BEHALF OF THE GOVERNING BOARD. FORM 990, PART VI, SECTION B, LINE 11 THE RETURN IS REVIEWED BY CFO AND HEAD OF SCHOOL BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES ARE REQUIRED TO SIGN A "CONFLICT OF INTEREST" STATEMENT EACH YEAR, AND DISCLOSE ANY POSSIBLE ACTIVITIES WHICH MAY CREATE A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 WHEN THE SCHOOL HIRED ITS TOP MANAGEMENT OFFICIAL, IT USED A SEARCH FIRM AND DID SALARY BENCHMARKING WITH THE FIRM AT THAT TIME. SINCE THEN, SALARY INCREASES HAVE BEEN IN LINE WITH INDUSTRY STANDARDS. ADDITIONALLY, THE EXECUTIVE COMMITTEE HAS OVERSIGHT AND APPROVAL OF THE SALARY. FORM 990, PART VI, SECTION C, LINE 19 COPIES AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -388. UNREALIZED CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT 102,948. TOTAL TO FORM 990, PART XI, LINE 5: 102,560. FORM 990, PART XI, LINE 2 (C) THE FINANCE COMMITTEE OF THE BOARD OVERSEES THE AUDIT OF ITS FINANCIAL STATEMENTS. THERE IS NO CHANGE OF THE PROCESS FROM PRIOR YEARS.