2011-06-11T12:55:56-05:00 2010-07-31 Clifton Gunderson LLP 333 S Kirkwood Road Suite 300 St Louis MO 63122 990 2009-08-01 510158994 WESTMINSTER CHRISTIAN ACADEMY WEST 3149972900 10900 LADUE ROAD ST LOUIS MO 63141 TODD FULLER 3149972900 2011-06-10 1 3149666622 2009 2016-02-24 21:20:13Z JOHN MOORE 10900 LADUE ROAD ST LOUIS MO 63141 33973266 0 X www.wcastl.org X 1975 MO CHRISTIAN EDUCATION OF STUDENTS IN GRADES 7-12. 17 17 234 250 0 0 2289212 6447739 8470242 9144004 39509 6398262 375735 -86340 11174698 21903665 0 0 8411748 8571975 22297 21600 628356 2640346 4200876 11074391 12794451 100307 9109214 43993273 49332881 9749782 6090220 34243491 43242661 Westminster Christian Academy honors Jesus Christ by providing an excellent education, rooted in biblical truth as interpreted by the Westminster Confession of Faith, for the children of Christian parents. Faculty and staff enable students to discover and embrace a biblical view of the world and integrate that view into every area of life. 0 0 8003413 9176213 WESTMINSTER CHRISTIAN ACADEMY SEEKS TO PREPARE AND EQUIP YOUNG MEN AND WOMEN TO ENGAGE THE WORLD AND CHANGE IT FOR JESUS CHRIST. WE ARE AN EXCELLENT ACADEMIC INSTITUTION WITH AN OUTSTANDING CURRICULUM. WITH A COMPREHENSIVE SELECTION OF COURSES, INCLUDING ADVANCED PLACEMENT AND HONORS CLASSES, WE OFFER A HIGHLY COMPETITIVE ACADEMIC PROGRAM THAT ENCOURAGES THE DEVELOPMENT AND APPLICATION OF CHRISTIAN CHARACTER. WE LOOK AHEAD TO A NEW CAMPUS IN TOWN & COUNTRY AND ARE EAGER TO SEE HOW GOD MIGHT USE EXCELLENT FACILITIES TO DO HIS WORK IN THE LIVES OF OUR CURRENT AND FUTURE STUDENTS. THE VALUE OF NONCASH DONATIONS OF SERVICES RECEIVED TOTALED $13,100. WE STRIVE TO BE EXCELLENT STEWARDS OF THE RESOURCES THAT GOD PROVIDES FOR OUR STUDENTS BY OFFERING NEED-BASED FINANCIAL AID. WESTMINSTER DOES NOT OFFER ANY ACADEMIC, FINE ARTS, OR ATHLETIC SCHOLARSHIPS. OUR FINANCIAL AID PROGRAM IS INTENDED TO HELP CLOSE THE GAP BETWEEN THE AMOUNT A FAMILY CAN AFFORD AND THE COST OF A WESTMINSTER EDUCATION. WE EXPECT EVERY FAMILY TO CONTRIBUTE SOME PORTION OF THEIR STUDENT'S TUITION AND ADDITIONAL SCHOOL EXPENSES. FINANCIAL AID AWARDS RESULTED IN A $1,241,646 DECREASE IN TUITION REVENUES FOR THE FISCAL YEAR.WE TAKE MANY FACTORS INTO CONSIDERATION WHEN DETERMINING A FAMILY'S ABILITY TO PAY TUITION, INCLUDING INCOME, ASSETS, GENERAL LIVING AND MEDICAL EXPENSES, FINANCIAL OBLIGATIONS, NUMBER OF DEPENDENTS, AND AGES OF PARENTS. 8003413 1 1 0 0 0 0 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 1 13 0 1 234 1 0 0 0 0 0 1 1 0 0 0 17 17 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 0 1 1 0 X X TODD FULLER FINANCE DIRECTOR 3149972900 10900 LADUE RD ST LOUIS MO 63141 JOHN J MOORE 3.00 X X 0 0 0 AL JOHNSON 3.00 X 0 0 0 JOSEPH GRUNEISEN 3.00 X 0 0 0 ROBERT JOHNSON 3.00 X 0 0 0 STEVE RASCHE 3.00 X X 0 0 0 WILLIAM HUGhES 3.00 X X 0 0 0 MICHAEL STANFILL 3.00 X 0 0 0 GRANT HOEKZEMA 3.00 X 0 0 0 REED SUGG 3.00 X 0 0 0 STEVEN LINTON 3.00 X X 0 0 0 STEVE HUNSICKER 3.00 X 0 0 0 JONATHAN BARLOW 3.00 X 0 0 0 RUSS BURNS 3.00 X 0 0 0 JEFFREY X CLAY 3.00 X 0 0 0 CHRISTOPHER M KEHR 3.00 X 0 0 0 ROBERT F WILKINSON 3.00 X 0 0 0 REV JEFFREY MEYERS 3.00 X 0 0 0 James C Marsh JR 40.00 X X 314029 0 25660 Todd Fuller 40.00 X 97610 0 16619 JAMES S SEFRIT 40.00 X 108452 0 5654 520091 0 47933 2 0 1 0 aetna 151 FARMINGTON AVENUE HARTFORD CT 06156 health insurance 436109 zwick and gandt architecture inc 9109 watson road suite 110 st louis MO 63126 architecture services 344349 UNITEDHEALTHCARE INSURANCE COMPANY 13655 RIVERPORT DRIVE MARYLAND HEIGHTS MO 63043 INSURANCE 291655 JW TERRILL 825 MARYVILLE CENTRE DRIVE 200 CHESTERFIELD MO 63017 INSURANCE, BENEFITS 132568 4 122070 6325669 443948 6447739 TUITION & FEES 900099 9120205 9120205 FOOD SERVICE 900099 23799 23799 9144004 44340 44340 123099 218258 -95159 -95159 -95159 2886 18000000 3557 11645407 -671 6354593 6353922 6353922 24878 122070 48268 -23390 -23390 174788 154111 20677 20677 MISCELLANEOUS INCOME 900099 11532 11532 11532 21903665 9176213 0 6279713 527833 527833 6319732 4778872 1148363 392497 249967 167416 79302 3249 969409 741382 178349 49678 505034 354431 122581 28022 14452 14452 21600 21600 16570 16570 37671 37671 408384 266907 97614 43863 433657 433657 61150 53067 8083 146772 57325 89447 262558 262558 788774 777503 11271 103870 103870 PROVISION FOR UNCOLLECT 1368369 1368369 SUMMER SCHOOL EXPENSES 90174 90174 PRINTING & PUBLICATIONS 78264 78264 miscellaneous 65282 45395 19887 TECHNOLOGY REPAIRS & MA 53558 53558 271371 183726 87645 12794451 8003413 4162682 628356 225505 9892083 7339028 10134121 53740 48687 575 212399 206877 29974701 2323925 34940787 27650776 1221239 1400337 43993273 49332881 574568 2250412 3636494 3809589 1675000 3863720 30219 9749782 6090220 X 29188820 39205506 4159990 3107092 894681 930063 34243491 43242661 43993273 49332881 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1592105 20968 158684 2886 1768871 1743946 146 -151987 1592105 0.47420 0.52580 0 0 1960000 15830834 17790834 4450724 1509377 2941347 1447789 814548 633241 6285354 6285354 27650776 21903665 12794451 9109214 -110044 -110044 8999170 22011879 -110044 218258 108214 21903665 0 21903665 13012709 218258 218258 12794451 0 12794451 Part X: Description of Uncertain Tax Positions Under FIN 48: THE ACADEMY HAS ADOPTED ACCOUNTING STANDARDS CODIFICATION (ASC) 740-10, INCOME TAXES, AS IT RELATES TO UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED JULY 31, 2010 AND HAS EVALUATED ITS TAX POSITIONS TAKEN FOR ALL OPEN TAX YEARS. ANY INTEREST AND PENALTIES ASSOCIATED WITH A TAX POSITION WOULD BE CLASSIFIED AS CURRENT IN THE FINANCIAL STATEMENTS. THE ACADEMY MUST FILE FORM 990 ON AN ANNUAL BASIS. BASED ON THE EVALUATION OF THE ACADEMY'S TAX POSITIONS FOR THE OPEN TAX YEARS OF 2007, 2008, AND 2009, MANAGEMENT BELIEVES ALL POSITIONS TAKEN WOULD BE UPHELD UNDER AN EXAMINATION. THEREFORE, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED FOR THE YEAR ENDED JULY 31, 2010. Part XII, Line 2d - Other Adjustments: RENTAL EXPENSES: 218258. Part XIII, Line 2d - Other Adjustments: RENTAL EXPENSES: 218258. 1 1 1 WESTMINSTER ADVERTISES AND PUBLISHES A NON-DISCRIMINATORY POLICY IN A BROCHURE WHICH STATES THAT "THE APPROVAL OF THE STUDENT BY THE ENROLLMENT COMMITTEE IS GIVEN WITHOUT REGARD TO RACE OR NATIONAL ORIGIN." 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 X X X X X X 1 HOLLY KING GRANT PROPOSALS 0 0 21600 0 21600 MO GOLF TOURNAMENT 146948 122070 24878 4080 37662 6526 146948 122070 24878 4080 37662 6526 48268 -23390 X X 0 1 0 0 0 0 0 0 0 James C Marsh JR 187311 0 0 0 126718 0 0 0 25660 0 339689 0 0 0 Part I, Line 4a DURING THE 2004 FISCAL YEAR, THE BOARD APPROVED A 5 YEAR PLAN FOR JIM MARSH, HEAD OF SCHOOL, WHEREBY DURING EACH SCHOOL YEAR BEGINNING WITH 2004/2005, $20,000 IN DEFERRED COMPENSATION WAS TO BE ACCRUED IN A NON-QUALIFIED PLAN ON JIM'S BEHALF. THE FULL AMOUNT OF $126,718.58 OF DEFFERED COMPENSATION WAS PAID OUT AT 08/11/2009. NOT DISCLOSED UNDER FAMILY EDUCATIO NOT DISCLOSED UNDER FAMILY EDUCATIONAL RIGHTS AND PRIVACY ACT NEED BASED FINANCIAL AID Amount $ 8100. nOT DISCLOSED UNDER FAMILY EDUCATIO nOT DISCLOSED UNDER FAMILY EDUCATIONAL RIGHTS AND PRIVACY ACT nEED BASED FINANCIAL AID Amount $ 6400. X 9 443948 SELLING PRICE 0 1 0 SALE OF CREVE COUER CAMPUS AND EQUIPMENT 2010-07-15 18000000 CONTRACT PRICE 436001950 SCHOOL DISTRICT CITY OF LADUE 9703 CONWAY ROAD ST LOUIS MO 63124 501(c)(3) 0 0 0 0 Form 990, Part VI, Section A, line 6 The Academy has members that consist of individuals who either have children enrolled in Westminster Christian Academy, or who make annual contributions to the Academy in an amount not less than the annual dues as determined, from time to time, by the Board of Directors. Form 990, Part VI, Section A, line 7a Each active member of the Association is entitled to one vote in each matter submitted to a vote of the membership. Form 990, Part VI, Section A, line 7b The association holds two stated meetings each year, one in November and the other in March. At the November meeting, academic, financial, and other appropriate reports and matters are presented and acted upon. At the March meeting, in addition to academic, financial, and other appropriate reports and matters, the annual election of Board members takes place. Special meetings may also be called by the Board of Directors or by one-fourth of the active members entitled to vote. Form 990, Part VI, Section B, line 11 THE BOARD'S EXECUTIVE COMMITTEE WILL REVIEW AND SIGN-OFF ON THE TAX RETURN BEFORE IT IS FILED. Form 990, Part VI, Section B, line 12c THE BOARD MEMBERS, BOARD COMMITTEE MEMBERS AND PRINCIPAL ADMINISTRATORS ARE REQUIRED TO ANNUALLY SIGN A STATEMENT THAT SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ IT, UNDERSTANDS IT AND AGREES TO COMPLY. IF THE FINANCE DIRECTOR NOTICES A PAYMENT TO A RELATED PARTY, HE NOTIFIES THE BOARD'S EXECUTIVE COMMITTEE WHO THEN REVIEWS THE TRANSACTION FOR APPROPRIATENESS. Form 990, Part VI, Section B, line 15 THE BOARD EXECUTIVE COMMITTEE REVIEWS BENCHMARKING DATA BEFORE SETTING THE COMPENSATION FOR THE HEAD OF THE SCHOOL AND THE DIRECTOR OF FINANCE. THIS REBUTTABLE PRESUMPTION DOCUMENTATION IS KEPT ON FILE AT THE SCHOOL. Form 990, Part VI, Section C, line 19 THESE DOCUMENTS ARE AVAILABLE IN THE SCHOOL'S BUSINESS OFFICE. THE BYLAWS ARE AVAILABLE UPON REQUEST. ANY REQUEST TO REVIEW THE CONFLICT OF INTEREST POLICY OR FINANCIAL STATEMENTS WOULD BE EVALUATED FOR APPROPRIATENESS BY THE ADMINISTRATION. THE BYLAWS ARE ALSO AVAILABLE ON THE SCHOOL'S WEBSITE. THE ARTICLES OF INCORPORATION ARE AVAILABLE ON THE MISSOURI SECRETARY OF STATE WEBSITE. form 990, page 12, part xi, line 2c: THE AUDIT COMMITTEE REVIEWS THE AUDIT REPORT WITH THE INDEPENDENT ACCOUNTANT EACH YEAR. THE AUDIT COMMITTEE IS RESPONSIBLE FOR REVIEWING THE PERFORMANCE OF THE AUDITORS AND RECOMMENDING TO THE BOARD THE APPOINTMENT OR DISCHARGE OF THE AUDITORS. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. SCHEDULE G, PART I, LINE 2A: HOLLY KING IS PAID $1,800 MONTHLY REGARDLESS OF WHAT IS RAISED AS A RESULT OF FUNDRAISING ACTIVITIES. SHE DOES NOT HAVE CUSTODY OF CONTRIBUTIONS. THERE WERE NO RECEIPTS FROM THE FUNDRAISING ACTIVITY AS HER SERVICES ARE STILL RELATIVELY NEW AND HAVE NOT RESULTED IN ADDITIONAL FUNDS RAISED. HOLLY KING IS CONSIDERED AN INDEPENDENT CONTRACTOR AND RECEIVES A 1099 FOR HER SERVICES. Form 990, Schedule N, Part II Sale During July 2010, the Academy sold $16,414,650 of property and equipment, which represents the sale of the Creve Coeur campus and related equipment. The gross proceeds and related gain on sale of property and equipment were $18,000,000 and $6,354,593, respectively, as of July 31, 2010. The proceeds of the sale were used to pay off all existing debt in preparation for the construction of the Academy's new campus facility. The Academy has entered into an operating lease through 2012 so that they may remain at the Creve Coeur campus, pending completion of the Town & Country campus. PAGE 990, PAGE 11, PART X, LINE 23 DEBT During July 2010, the Academy sold $16,414,650 of property and equipment, which represents the sale of the Creve Coeur campus and related equipment. The gross proceeds and related gain on sale of property and equipment were $18,000,000 and $6,354,593, respectively, as of July 31, 2010. The proceeds of the sale were used to pay off all existing debt in preparation for the construction of the Academy's new campus facility. The Academy has entered into an operating lease through 2012 so that they may remain at the Creve Coeur campus, pending completion of the Town & Country campus. Subsequent to year end, the Academy entered into several notes payable agreements to finance construction of the new campus in the amount of $35,000,000. Additionally, the Academy entered into a variable rate revolving line of credit, due on demand, in the amount of $500,000.