2011-11-14T09:32:22-06:00 2011-06-30 LARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2010-07-01 411420915 MOUNDS PARK ACADEMY MOUN 6517485507 2051 EAST LARPENTEUR AVENUE ST PAUL MN 55109 REGINA WALLRAFF 6517485507 2011-11-10 1 XIAOYAN LUO 6123764500 2010 2016-03-07 17:11:31Z MICHAEL DOWNS 2051 EAST LARPENTEUR AVENUE ST PAUL MN 55109 14763012 0 X WWW.MOUNDSPARKACADEMY.ORG X 1981 MN TEACH STUDENTS TO THINK INDE- PENDENTLY, COMMUNICATE EFFECTIVELY & ACT WITH RESPECT & INTEGRITY. 24 22 249 317 0 0 1119233 1274537 11486057 11726541 178759 233795 289679 336407 13073728 13571280 1863419 2199648 0 0 7412431 7655833 0 0 160812 3975692 3926430 13251542 13781911 -177814 -210631 30634052 30843639 11891968 11769270 18742084 19074369 TO TEACH STUDENTS TO THINK INDEPENDENTLY, COMMUNICATE EFFECTIVELY AND ACT WITH RESPECT AND INTEGRITY IN A DIVERSE COMMUNITY THAT MODELS INTELLECTUAL AMBITION, GLOBAL RESPONSIBILITY AND THE JOY OF LEARNING. 0 0 11500664 2199648 11726541 OPERATE AN INDEPENDENT, CO-EDUCATIONAL, NON-DENOMINATIONAL COLLEGE PREPARATORY SCHOOL IN ST. PAUL, MINNESOTA TEACHING STUDENTS IN GRADES PRE-K THROUGH 12. MOUNDS PARK ACADEMY'S AVERAGE CLASS SIZE IS 17 STUDENTS, WITH APPROXIMATELY 600 STUDENTS SERVED. NINETY-EIGHT PERCENT OF THE ACADEMY'S STUDENTS ARE ADMITTED TO FOUR-YEAR COLLEGES AND UNIVERSITIES.THE ACADEMY'S CURRICULUM FOCUSES ON COLLABORATION; EXPERIENTIAL, HANDS-ON LEARNING; AND PROVIDES OVER 70 ACTIVITIES INCLUDING FINE ARTS, ACADEMICS, SOCIAL AWARENESS AND ATHLETICS AT ITS 32 ACRE CAMPUS IN ST. PAUL. 11500664 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 1 0 0 0 1 27 0 1 249 1 0 0 0 0 0 1 1 0 0 0 0 X 24 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MN X X REGINA WALLRAFF 6517485501 2051 EAST LARPENTEUR AVENUE ST PAUL MN 55109 NANCY BECK 10.00 X X 0 0 0 BABETTE APLAND 3.00 X X 0 0 0 ELIZABETH JANSEN LEMIRE 3.00 X X 0 0 0 TED LYLE 3.00 X X 0 0 0 MANDY ABDO SHEAHAN 2.00 X 0 0 0 TAMRA ANDERSON 2.00 X 0 0 0 BETH AVERBECK 2.00 X 0 0 0 BRAD BERNING 2.00 X 0 0 0 ROBIN BROOKSBANK 2.00 X 0 0 0 KOFI BRUCE 2.00 X 0 0 0 JENEAN CORDON 2.00 X 0 0 0 MARINA DALE 40.00 X 55069 0 14814 NANCY ETZWILER 2.00 X 0 0 0 ALLAN FLINN 2.00 X 0 0 0 HOWARD GREEN 2.00 X 0 0 0 CHUCK JAKWAY 2.00 X 0 0 0 SANDY LAW 2.00 X 0 0 0 N NANCY MISRA 2.00 X 0 0 0 KARLA MYERS 2.00 X 0 0 0 FORD NICHOLSON 2.00 X 0 0 0 KIM OTNESS 2.00 X 0 0 0 CHRISTOPHER PARISH 2.00 X 0 0 0 BRENT PEACOCK 2.00 X 0 0 0 GRETA STACY 2.00 X 0 0 0 LORI TAPANI 2.00 X 0 0 0 MICHAEL DOWNS 40.00 X 238969 0 22041 REGINA WALLRAFF 40.00 X 96953 0 14733 390991 0 51588 1 0 1 0 SAGE DINING SERVICES 222 BOSLEY AVE B7 TOWSON MD 21204 FOOD SERVICE 379660 FIRST STUDENT 6349 STILLWATER BLVD OAKDALE MN 55128 TRANSPORTATION 215764 HALEMAN-HOMMEANDERSON LADD SDS 12-1632 PO BOX 86 MINNEAPOLIS MN 55486 MAINTENANCE/REPAIR 138922 APPLE COMPUTERS PO BOX 281877 ATLANTA GA 30384 TECHNOLOGY 102806 4 543166 150482 580889 30200 1274537 TUITION 611600 11217269 11217269 FOOD SERVICE 611710 387786 387786 TRANSPORTATION 480000 114236 114236 APPLICATION FEES 611600 3900 3900 BOOKSTORE 611710 3350 3350 11726541 151907 151907 24534 24534 24534 24534 1222535 1140647 81888 81888 81888 11495 543166 43029 -31534 -31534 13738 8056 5682 5682 EXTENDED DAY CARE 611710 202183 202183 MISCELLANEOUS 900099 88492 88492 YEARBOOK 611710 47050 47050 337725 13571280 11726541 0 570202 2199648 2199648 481375 77547 403828 5930259 5184517 638527 107215 139433 120767 15967 2699 671049 560672 97985 12392 433717 354067 72017 7633 10684 10684 30468 30468 25544 25544 58791 27421 31370 142680 38807 103646 227 441584 403356 25755 12473 83300 39144 41336 2820 377541 371156 4997 1388 10057 5930 4075 52 15510 9155 6203 152 466225 466225 1204130 1147307 53424 3399 91018 89479 1205 334 FOOD TOTAL 424520 404890 13227 6403 TRANSPORTATION TOTAL 227747 226610 741 396 FIELD TRIP & REGISTRATI 87767 86773 315 679 PUBLIC FUNDS TOTAL 49667 49667 0 0 MISCELLANEOUS TOTAL 48099 45963 1747 389 131098 57788 71149 2161 13781911 11500664 2120435 160812 2046437 3069410 85742 143128 696349 372643 10951 32662 31701 26500 18525 94127 36007906 12044803 24943304 23963103 2387573 2748452 27705 28642 385765 364972 30634052 30843639 918765 1301832 966617 931149 8752444 8442444 1254142 1093845 11891968 11769270 X 16474643 16443777 349868 694743 1917573 1935849 18742084 19074369 30634052 30843639 X -210631 542916 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2554910 18276 511284 98000 2986470 2583492 133657 -72239 90000 2554910 3086503 30612 -453623 80000 2583492 0.21180 0.64820 0.14000 0 0 746926 746926 31340044 8401628 22938416 3897996 3643175 254821 22940 22940 23963103 BOND INTEREST PAYABLE 21967 ASSET RETIREMENT OBLIGATION 189083 VALUATION OF INTEREST RATE SWAP AGREEMENT 882795 1093845 13571280 13781911 -210631 374912 168004 542916 332285 11942089 374912 219089 594001 11348088 2223192 2223192 13571280 11609804 51085 51085 11558719 2223192 2223192 13781911 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ORGANIZATION MAINTAINS ITS ENDOWMENT TO SUPPORT FINANCIAL AID AND PROGRAMS OF THE SCHOOL. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE ORGANIZATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND MINNESOTA STATUTE 290, AND IS GENERALLY EXEMPT FROM REAL ESTATE TAXES. THE ORGANIZATION IS A PUBLIC CHARITY AND CONTRIBUTIONS TO THE ORGANIZATION QUALIFY AS CHARITABLE TAX DEDUCTIONS BY CONTRIBUTORS. THE ORGANIZATION FOLLOWS THE PROVISIONS FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THIS PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE ORGANIZATION IS NOT AWARE OF ANY OF ANY UNCERTAIN TAX POSITIONS. THE ORGANIZATION'S TAX RETURNS ARE SUBJECT TO REVIEW FOR INCOME TAX PURPOSES BEGINNING WITH THE YEAR ENDED JUNE 30, 2008. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUATION OF INTEREST RATE SWAP AGREEMENT 168,004. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 43,029. CHANGE IN VALUE OF INTEREST RATE SWAP AGREEEMENT 168,004. COST OF GOODS SOLD 8,056. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH TUITION 2,197,648. INVESTMENT MANAGEMENT FEES NETTED WITH INTEREST 25,544. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 43,029. COST OF GOODS SOLD 8,056. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH TUITION 2,197,648. INVESTMENT MANAGEMENT FEES 25,544. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 SCHOOL ADMISSION GUIDELINES CONTAIN THE NONDISCRIMINATORY POLICIES. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 THE ORGANIZATION RECEIVES PUBLIC FUNDS FROM INDEPENDENT SCHOOL DISTRICT 622. ANNUAL FUND 447731 447731 242 14745 BEST OF MPA 86701 81421 5280 1483 13325 1 20229 14014 6215 6329 6905 554661 543166 11495 8054 34975 43029 -31534 1 FINANCIAL AID 162 1938018 N/A N/A FINANCIAL AID TO INTERESTED PERSONS 5 58875 0 N/A N/A TUITION DISCOUNT 15 120066 N/A N/A REDUCED LUNCH 61 51616 N/A N/A PANTHER CLUB FINANCIAL AID 36 22130 N/A N/A SCHOLARSHIPS 3 2000 N/A N/A SUMMER ENRICHMENT FINANCIAL AID 15 6644 N/A N/A TRANSPORTATION ASSISTANCE 1 295 N/A N/A BOOKS ASSISTANCE 1 4 N/A N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE TYPE OF ASSISTANCE PROVIDED IS CREDITED DIRECTLY TO THE RECIPIENT'S ACCOUNT ON BEHALF OF THE STUDENT. NO FUNDS ARE DIRECTLY DISBURSED TO INDIVIDUALS. X 1 0 X X X X 0 0 0 0 0 0 0 0 0 MICHAEL DOWNS 217667 0 0 0 21302 0 11250 0 10791 0 261010 0 0 0 PART I, LINE 1A MICHAEL DOWNS - HEAD OF SCHOOL - HOUSING ALLOWANCE - $12,000 - INCLUDED IN TAXABLE COMPENSATION CITY OF MAPLEWOOD 416008920 565561AT4 2003-10-01 4480000 REFUND PRIOR BOND ISSUE, FACILITIES REMODEL 0 0 0 CITY OF MAPLEWOOD 416008920 565561AU1 2005-05-01 13600000 BUILDING EXPANSION 0 0 0 4480000 168962 4311038 2003 0 0 1 1 13600000 324893 13275107 2006 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 MBIA INC 3.000000000000 0 1 0 1 0 0 MBIA INC 3.000000000000 0 1 VARIOUS STUDENTS FAMILY MEMBERS OF STUDENTS ON THE BOARD 58875 FINANCIAL AID X 17 30200 STOCK MARKET QUOTES 0 0 1 1 THIRD PARTY USE: PART I, LINE 32B: THE ORGANIZATION USES A BROKERAGE FIRM TO RECEIVE AND SELL STOCK GIFTS. FORM 990, PART VI, SECTION A, LINE 1 THE ORGANIZATION'S EXECUTIVE COMMITTEE INCLUDES THE OFFICERS OF THE BOARD, THE HEAD OF SCHOOL AND OTHER INDIVIDUALS AS DETERMINED BY THE BOARD. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY TO ACT ON BEHALF OF THE BOARD BETWEEN MEETINGS; ASSIST IN THE PERFORMANCE OF EVALUATION OF THE HEAD OF SCHOOL ANNUALLY, AS NECESSARY; COORDINATE THE ACTIVITIES OF OTHER BOARD COMMITTEES AND TASK FORCES, AS NECESSARY; AND REVIEW ISSUES THAT TRANSCEND A SINGLE BOARD COMMITTEE WHEN APPROPRIATE AND PREPARE RECOMMENDATIONS FOR BOARD ACTION, AS NEEDED. FORM 990, PART VI, SECTION B, LINE 11 THE ORGANIZATION'S BUSINESS OFFICE PROVIDED THE FORM 990 DETAIL TO AUDITORS WHO PREPARED THE RETURN. THE DRAFT FORM 990 WAS REVIEWED BY THE ORGANIZATION'S FINANCE COMMITTEE AND GOVERNANCE COMMITTEE FOR ADJUSTMENTS. A COPY OF THE RETURN WAS FORWARDED TO THE WHOLE BOARD BEFORE FILING WITH IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY IS REVIEWED AT THE BEGINNING OF EACH NEW BOARD YEAR AND DISCLOSURES ARE SIGNED BY ALL TRUSTEES. IF A CONFLICT IS DETERMINED TO EXIST BY THE REMAINING MEMBERS NOT INVOLVED IN THE CONFLICT IN A MEETING, THE CONFLICTED TRUSTEE WILL BE DISMISSED FROM DISCUSSION AND THE DECISION. ALL PROCEEDINGS RELATED TO CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE REVIEWED COMPARABILITY DATA FOR OTHER HEADS OF INDEPENDENT SCHOOLS AT THE LOCAL AND STATE LEVELS; THE SOURCE OF THIS DATA WAS THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS. NATIONAL DATA CAME FROM BENCHMARK RESEARCH, AN ORGANIZATION THAT GROUPS SIMILARLY SIZED INDEPENDENT DAY SCHOOLS TOGETHER FOR COMPARISON PURPOSES; HOWEVER, THIS DATA WAS ONLY AVAILABLE FOR BASE SALARY. THE BOARD OF TRUSTEES REVIEWED THE DATA AND APPROVED THE EMPLOYMENT CONTRACT. THE PROCESS WAS LAST CONDUCTED AT THE MAY, 2010 BOARD MEETING FOR THE HEAD OF SCHOOL, M. DOWNS. THE SALARY FOR THE DIRECTOR OF BUSINESS AND FINANCE IS COMPARED TO OTHER BENCHMARK SCHOOLS OF SIMILAR SIZE ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, NOR ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 374,912. CHANGE IN VALUATION OF INTEREST RATE SWAP AGREEMENT 168,004. TOTAL TO FORM 990, PART XI, LINE 5: 542,916. BREAKTHROUGH SAINT PAUL 2051 EAST LARPENTEUR AVENUE ST PAUL MN 55109 EDUCATIONAL SUPPORT SERVICES MN 501(C)(3) LINE 7 N/A 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0