2011-11-15T14:21:18-06:00 2011-06-30 LAUTZE & LAUTZE 303 SECOND STREET SUITE 950N SAN FRANCISCO CA 94107 990 2010-07-01 943250488 SEA CREST SCHOOL INC SEAC 6507129892 901 ARNOLD WAY HALF MOON BAY CA 94019 BRUCE POLLOCK 6507129892 2011-11-17 1 ROGER BULOSAN 4155436900 2010 2016-02-24 21:20:13Z BRUCE POLLOCK 901 ARNOLD WAY HALF MOON BAY CA 94019 3822413 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 63 170 0 0 307172 360938 3267949 3313075 9749 7343 37035 41213 3621905 3722569 335052 295026 0 0 2218178 2212879 0 8800 8800 886450 869766 3439680 3386471 182225 336098 7725634 8148941 6912882 6952031 812752 1196910 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 2458214 295026 3173866 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. 83006 139209 AUXILIARY SERVICES PROVIDE AFTERSCHOOL PROGRAMS FOR ATHLETICS, MUSIC, SCIENCE AND OTHER ENRICHMENT PROGRAMS, SUPERVISED AFTERSCHOOL CARE AND SUMMER ENRICHMENT PROGRAMS. 2541220 1 1 0 0 0 0 0 0 1 1 1 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 0 0 0 0 0 0 0 0 0 0 1 16 0 1 63 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 X BRUCE A POLLOCK HEAD OF SCHOOL 6507129892 901 ARNOLD WAY HALF MOON BAY CA 94019 TODD ACKERMAN X X 0 0 0 PAMELA IZZO X X 0 0 0 DAVID HOSILYK X X 0 0 0 GREG JOSWIAK X 0 0 0 KARI KILSTROM X 0 0 0 BRICE TARLING X 0 0 0 GRETCHEN MCDOUGALL X 0 0 0 KATE WHITE X 0 0 0 BRUCE POLLOCK 55.00 X X 184650 0 26877 ANDRE TURENNE X 0 0 0 DAIN EHRING X 0 0 0 JOHN DEMPSEY X 0 0 0 BARRY FRANKLIN X 0 0 0 LAURA LEBER KAMMEYER X 0 0 0 SUSAN MIHARA X 0 0 0 SHERI OLSON X 0 0 0 CATHY SHELBURNE X 0 0 0 184650 0 26877 1 0 1 0 0 190596 170342 5418 360938 TUITION 611600 3173866 3173866 AUXILIARY SERVICES 611600 139209 139209 3313075 7343 7343 35873 35873 35873 35873 40000 40000 0 0 59844 190596 59844 0 MISC. INCOME 611600 5340 5340 5340 3722569 3313075 0 48556 295026 295026 216702 151691 65011 1613988 1373605 240383 90096 76823 13273 147449 113914 33535 144644 101388 43256 24900 24900 8800 8800 600 600 12618 12618 33993 18278 15715 8800 8800 45693 36554 9139 3 3 228387 228387 218700 174960 43740 48718 26540 22178 CURRICULUM & CLASSROOM 89413 89413 EQUIPMENT RENTAL AND MA 86667 16677 69990 ATHLETICS PROGRAM EXPEN 21827 21827 SUMMER SCHOOL PROGRAM E 13045 13045 PROFESSIONAL DEVELOPMEN 10448 10448 25954 11628 14326 3386471 2541220 836451 8800 52239 155367 1850011 1977358 799 264344 364126 56457 61259 6320710 1739112 4702819 4581598 526000 759314 272965 249919 7725634 8148941 259337 268452 1856223 1996003 4500000 4435000 297322 252576 6912882 6952031 X 796683 1155711 13069 27885 3000 13314 812752 1196910 7725634 8148941 X 336098 48060 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3000 17000 3314 23314 3000 3000 0.43000 0.57000 0 0 870118 870118 5097296 1500512 3596784 319636 238600 81036 33660 33660 4581598 WFB PROJECT FUND 196000 F COMERICA RESERVE FUND CD 290000 F COMERICA CD BROKERAGE ACCOUNT 250000 F VANGUARD ENDOWMENT INVESTMENTS 23314 F 759314 INTEREST RATE SWAP AGREEMENT 252576 252576 3722569 3386471 336098 3314 44746 48060 384158 3487387 59844 59844 3427543 295026 295026 3722569 3103229 11784 11784 3091445 295026 295026 3386471 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, 2011 REVEALED NO TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS. THE 2007 THROUGH 2010 TAX YEARS REMAIN SUBJECT TO EXAMINATION BY THE IRS. IN ADDITION, THE 2006 THROUGH 2010 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 44,746. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUND RAISING - DIRECT EXPENSES 59,844. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID TO INDIVIDUALS 295,026. PART XIII, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT -44,746. FUND RAISING - DIRECT EXPENSES 59,844. UNREALIZED GAIN ON RESTRICTED INVESTMENTS -3,314. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID TO INDIVIDUALS 295,026. 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, 2011. AUCTION 174846 135599 39247 6127 600 32520 SCHOLARSHIP RUN 34724 32116 2608 2608 14 40870 22881 17989 17989 250440 190596 59844 6127 600 53117 59844 0 1 FINANCIAL ASSISTANCE FOR TUITION 37 295026 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 0 0 0 0 0 0 0 0 0 BRUCE POLLOCK 151650 0 0 0 33000 0 10763 0 16114 0 211527 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. 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 GAINS ON INVESTMENTS: 3,314. UNREALIZED CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENT 44,746. TOTAL TO FORM 990, PART XI, LINE 5: 48,060. 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.