2012-05-14T10:38:56-05:00 2011-06-30 PLANTE & MORAN PLLC PO BOX 307 SOUTHFIELD MI 480370307 990 2010-07-01 381359080 THE GROSSE POINTE ACADEMY GROS 3138861221 171 LAKE SHORE ROAD GROSSE POINTE FARMS MI 48236 JAMES MURDOCK 3138861221 2012-05-10 1 SUE MIENCIER 2483522500 2010 2016-02-24 21:20:13Z JAMES MURDOCK 171 LAKE SHORE ROAD GROSSE POINTE FARMS MI 48236 6235384 0 X WWW.GPACADEMY.ORG X 1969 MI THE GROSSE POINTE ACADEMY IS AN INDEPENDENT, COEDUCATIONAL DAY SCHOOL SERVING CHILDREN IN EARLY SCHOOL THROUGH GRADE EIGHT. 22 22 101 200 -42693 -42693 961139 839883 4103844 4136502 355679 347864 -303632 -161013 5117030 5163236 874429 1230507 0 0 3096723 3347217 0 0 483427 2070567 1804413 6041719 6382137 -924689 -1218901 22310967 21927081 8951766 8453444 13359201 13473637 X THE GROSSE POINTE ACADEMY EDUCATION EMPHASIZES THE VALUE OF EACH CHILD AND THE GROWTH OF THAT CHILD. WE PROVIDE AN EDUCATION OF THE HIGHEST QUALITY IN THE PURSUIT OF ACADEMIC EXCELLENCE, THE ARTS AND ATHLETICS. WE IMPART TO OUR STUDENTS AN EDUCATION WHICH IS SOUND IN MORAL AND ETHICAL FORMATION. OUR OUTLOOK IS CHRISTIAN AND OUR HERITAGE IS CATHOLIC. THE ACADEMY RESPECTS ALL CULTURES AND RELIGIOUS BELIEFS. 0 0 4794400 1230507 4136502 AN INDEPENDENT EDUCATIONAL INSTITUTION THAT PROVIDES AN ENVIRONMENT OF LEARNING FOR STUDENTS IN GRADES PRESCHOOL THROUGH EIGHTH OF VARIOUS SOCIAL, ECONOMIC, RELIGIOUS, AND CULTURAL BACKGROUNDS. 4794400 1 1 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 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 26 0 1 101 1 1 1 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 MI X JAMES MURDOCK 3138861221 171 LAKESHORE DRIVE GROSSE POINTE FARMS MI 48236 GUS ANDREASEN 5.00 X 0 0 0 BRIDGET BEARSS 5.00 X 0 0 0 CHARLES E BECKER 5.00 X X 0 0 0 JAMES E BROCK JR 5.00 X X 0 0 0 SANDRA CAVATAIO 5.00 X 0 0 0 DONALD COLEMAN 5.00 X 0 0 0 JENNIFER FAUSTER 5.00 X 0 0 0 HALI H GIESSLER 5.00 X 0 0 0 KIRK HAGGARTY 5.00 X X 0 0 0 LAURA E KRUEGER 5.00 X 0 0 0 DEBBIE MINANOV 5.00 X 0 0 0 JOHN MURPHY 5.00 X 0 0 0 M CATHY NOWOSIELSKI MD 5.00 X 0 0 0 CAROLE J PEABODY 5.00 X 0 0 0 KRISTI M PENMAN 5.00 X X 0 0 0 WILLIAM SMITH 5.00 X 0 0 0 JACK VALENTE 5.00 X 0 0 0 KRISTEN VANPELT 5.00 X 0 0 0 BRIAN DEMKOWICZ 5.00 X 0 0 0 KEN FRUEHAUF 5.00 X 0 0 0 RENEE JANOVSKY 5.00 X 0 0 0 MARY JO JOHNSON 5.00 X 0 0 0 FE PHIL DEMARTINI JR 40.00 X 191679 0 10521 ANGELA BOYLE 40.00 X 62523 0 10090 JAMES L MURDOCK 40.00 X 3173 0 49 257375 0 20660 1 0 1 0 BDH 1045 COOK RD GROSSE POINTE MI 48236 FOOD SERVICE PROVIDER 184491 DRM TEAM 11751 SOBIESKI HAMTRAMCK MI 48212 CLEANING SERVICE 178230 2 417675 422208 160803 839883 TUITION & FEES 611710 4097432 4097432 STUDENT SUPPORT SERVIC 611710 39070 39070 4136502 137431 137431 73210 103818 -30608 -30608 -42693 12085 800000 589567 210433 210433 210433 248358 417675 378763 -130405 -130405 5163236 4136502 -42693 229544 1230507 1230507 292142 211067 81075 70380 70380 2475146 1801906 504930 168310 299995 218396 61199 20400 209554 152555 42749 14250 615 615 39201 39201 80405 80405 52513 14925 22663 14925 452122 226061 226061 6154 6154 346080 318604 27476 73896 36948 36948 CAMPS AND SUMMER CLASSE 19377 19377 BAD DEBT EXPENSE 10857 10857 SUPPLIES 261287 261287 FOOD SERVICE 184491 184491 CAPITAL DRIVE 174965 174965 102450 41742 50536 10172 6382137 4794400 1104310 483427 695 695 654264 59820 1174528 960019 279396 221184 102318 41736 17360495 6105599 11603811 11254896 8278482 9183948 217473 204783 22310967 21927081 355134 299535 317665 303266 7855000 7445000 423967 405643 8951766 8453444 X 8763958 7335178 1019613 2562829 3575630 3575630 13359201 13473637 22310967 21927081 X -1218901 1333337 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7736238 0 1340924 -15050 9062112 6782892 1500 974929 -23083 7736238 9486323 103275 -2831966 25260 6782892 0.48000 0.40000 0.12000 1 0 450000 450000 14564353 3759457 10804896 2346142 2346142 0 11254896 CONDITIONAL ASSET RETIREMENT OBLIGATION 193475 PENSION AND POST-RETIREMENT OBLIGATION 212168 405643 5163236 6382137 -1218901 1333337 1333337 114436 5369884 1333337 -1230507 102830 5267054 -103818 -103818 5163236 5255448 103818 103818 5151630 1230507 1230507 6382137 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ACADEMY'S ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. EARNINGS FROM GENERAL ENDOWMENT FUNDS FUND SCHOOL OPERATIONS, EARNINGS FROM THE ENDOWMENT SCHOLARSHIP FUND FUND SCHOLARSHIPS AND EARNINGS FROM THE FACULTY ENDOWMENT ARE RESTRICTED FOR FACULTY SCHOLARSHIPS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE ACADEMY IS EXEMPT FROM INCOME TAX UNDER PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(3). AS A RESULT, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ACADEMY IS REQUIRED TO FILE INTERNAL REVENUE SERVICE FORM 990 ANNUALLY. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ACADEMY AND RECOGNIZE A TAX LIABILITY IF THE ACADEMY HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITION TAKEN BY THE ACADEMY AND HAS CONCLUDED THAT AS OF JUNE 30, 2011, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANICAL STATEMENTS. THE ACADEMY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO JUNE 30, 2008. PART XII, LINE 2D - OTHER ADJUSTMENTS: STUDENT AID -1,230,507. PART XII, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES INCLUDED IN NET RENTAL INCOME -103,818. PART XIII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES INCLUDED IN NET RENTAL INCOME 103,818. PART XIII, LINE 4B - OTHER ADJUSTMENTS: STUDENT AID 1,230,507. 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 THE ACADEMY PROVIDES A STATEMENT IN ALL BROCHURES AND ADS FOR ADMISSIONS/OPEN HOUSE INVITATIONS TO THE PUBLIC. AN ANNUAL NOTICE IS PLACED IN THE DETROIT FREE PRESS NEWSPAPER. THE GROSSE POINTE ACADEMY IS COMMITTED TO A DIVERSE POPULATION. ACTION AUCTION 666033 417675 248358 160803 12860 43519 1890 159691 666033 417675 248358 160803 12860 43519 1890 159691 378763 -130405 1 TUITION REMISSION 16 148772 FMV TUITION ASSISTANCE FINANCIAL AID 134 1081735 FMV TUTION ASSISTANCE PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: STUDENTS APPLY FOR FINANCIAL AID EACH YEAR, AMOUNTS AWARDED BASED ON NEED AND ARE APPLIED DIRECTLY TO THE STUDENTS' TUITION ACCOUNTS. X 1 1 X X X X 1 0 0 0 0 0 0 0 0 FE PHIL DEMARTINI JR 160619 0 0 0 31060 0 0 0 10521 0 202200 0 0 0 PART I, LINE 1A THE HEAD OF SCHOOL'S (PHIL DEMARTINI) COMPENSATION INCLUDES A HOUSING ALLOWANCE OF $29,214 AND AN AUTO ALLOWANCE OF $6,000, BOTH OF WHICH ARE TREATED AS TAXABLE INCOME. PART I, LINE 4A THE HEAD OF SCHOOL (PHIL DEMARTINI) RECEIVED A SEVERANCE PAYMENT OF $35,724 ON JUNE 20, 2011 AS STATED IN HIS SEPARATION AGREEMENT WHICH ENDED HIS EMPLOYMENT WITH THE ORGANIZATION AS OF JUNE 30, 2011. MICHIGAN STRATEGIC FUND 521417332 594698AA0 2005-08-01 6500000 CAPITAL IMPROVEMENTS 0 0 0 MICHIGAN STRATEGIC FUND 521417332 594698HP0 2009-02-19 2500000 CAPITAL IMPROVEMENTS 0 0 0 6500000 163837 6500000 2007 0 0 1 1 2500000 85764 2500000 2009 0 0 1 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 0 0 0 1 0 1 0 0 0 1 X 1 7500 COST X 6295 COST X 1 37500 COST X VACATION PACKAGES DONATED FOR AUCTION 4 67908 COST X JEWELRY 4 31600 COST X ENTERTAINMENT 1 10000 COST 0 0 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE NUMBER OF ITEMS CONTRIBUTED ARE REPORTED IN PART I COLUMN B. FORM 990, PART VI, SECTION B, LINE 11 AFTER THE RETURN IS FILED, THE FINANCE COMMITTEE WILL REVIEW FORM 990 AND THEN THE ENTIRE BOARD OF DIRECTORS WILL RECEIVE A COPY OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES ARE GIVEN THE CONFLICT OF INTEREST POLICY AT THE ANNUAL BOARD OF TRUSTEES RETREAT AND ASKED TO SIGN AND RETURN. CONFLICT OF INTEREST QUESTIONNAIRES ARE MAINTAINED BY THE BUSINESS OFFICE. IN THE EVENT A BOARD MEMBER HAS A CONFLICT, IT WOULD BE NOTED AND THEY WOULD BE REQUESTED TO EXCLUDE THEMSELVES FROM ANY VOTE/DISCUSSION RELATIVE TO SAID CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES' PRESIDENT RECEIVED INFORMATION FROM THE NATIONAL ASSOCIATION OF INDPENDENT SCHOOLS COMPARING TOTAL COMPENSATION AND BENEFITS FOR THE RESPECTIVE POSITIONS AT PEER SCHOOLS. THE PRESIDENT THEN MAKES A RECOMMENDATION TO THE BOARD FOR THEIR APPROVAL. THE POSITIONS COVERED UNDER THIS PROCESS ARE THE HEAD OF SCHOOL, THE FORMER DIRECTOR OF FINANCE AND THE SPOUSE OF THE HEAD OF SCHOOL WHO IS A TEACHER. THE DETERMINATION AND DECISION REGARDING COMPENSATION WAS DOCUMENTED CONTEMPORANEOUSLY IN THE BOARD MINUTES. THIS PROCESS WAS LAST UNDERTAKEN IN JUNE 2007. A NEW DIRECTOR OF FINANCE STARTED IN DECEMBER 2010 AND HIS COMPENSATION WAS DETERMINED BY THE HEAD OF SCHOOLS AND THE DIRECTOR OF THE FINANCE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 1,333,337. FORM 990, PART XII, LINE 2C THE BOARD IS RESPONSIBLE FOR THE OVERSIGHT OF THE REVIEW. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.