Liabilities / Assets
77th percentile
Higher debt load relative to assets than 77% of similar nonprofits.
Liberty School Inc.
990 • Fiscal year 2019 • EIN 20-8600388
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.39x
Liabilities / Revenue
93rd percentile
Higher debt load relative to revenue than 93% of similar nonprofits.
Net Margin
15th percentile
Higher net margin than 15% of similar nonprofits.
Top Officer Pay
41st percentile
Higher top officer pay than 41% of similar nonprofits.
Top officer pay equals 5.5% of source-year revenue.
Asset Growth
66th percentile
Faster asset growth than 66% of similar nonprofits.
Revenue Growth
5th percentile
Faster revenue growth than 5% of similar nonprofits.
Balance Sheet
Assets
Up$4,152,764
Up $367,160 (+9.7%) from 2018
Net Assets
Down$2,527,571
Down $96,915 (-3.7%) from 2018
Liabilities
Up$1,625,193
Up $464,075 (+40%) from 2018
Revenue And Expenses
Revenue
Down$582,906
Down $562,924 (-49%) from 2018
Expenses
Up$679,821
Up $159,084 (+31%) from 2018
Net Income
Down-$96,915
Down $722,008 (-116%) from 2018
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2018 to Jun 30, 2019
- Signed
- Jan 23, 2020
- Return Version
- 2018v3.2
- Gross Receipts
- $589,934
Mission and Program Overview
Mission
The Liberty School is an independent school serving dyslexic intellectually gifted, and twice exceptional students in grades one through eight.
The liberty school is an independent school serving dyslexic, intellectually gifted, and twice exceptional students in grades one through eight.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $3,236,719 | $3,822,789 | ▲ $586,070 |
| Savings and Temporary Cash Investments | $281,046 | $202,920 | ▼ $78,126 |
| Cash and Non-Interest-Bearing Accounts | $6,933 | $68,678 | ▲ $61,745 |
| Pledges and Grants Receivable | $243,300 | $45,712 | ▼ $197,588 |
| Accounts Receivable | $16,854 | $11,917 | ▼ $4,937 |
| Prepaid Expenses and Deferred Charges | $752 | $748 | ▼ $4 |
| Total Assets | $3,785,604 | $4,152,764 | ▲ $367,160 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $1,080,607 | $1,569,194 | ▲ $488,587 |
| Deferred Revenue | $25,700 | $32,350 | ▲ $6,650 |
| Accounts Payable and Accrued Expenses | $54,811 | $23,649 | ▼ $31,162 |
| Total Liabilities | $1,161,118 | $1,625,193 | ▲ $464,075 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $322,640 | $2,500,223 | ▲ $2,177,583 |
| Temporarily Rstr Net Assets | $2,301,846 | $27,348 | ▼ $2,274,498 |
| Total Net Assets Fund Balance | $2,624,486 | $2,527,571 | ▼ $96,915 |
| Total Liabilities and Net Assets / Fund Balance | $3,785,604 | $4,152,764 | ▲ $367,160 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $2,925,902 | $68,625 | $2,994,527 |
| Land | $880,000 | - | $880,000 |
| Equipment | $16,887 | $5,396 | $22,283 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Total |
|---|---|---|---|---|
| Douglas C Holmen | Head of Scho | FT | $31,963 | $31,963 |
Board Members and Trustees
| Name | Title |
|---|---|
| Barbara Stine Ph D | President |
| Doug Fuller | Director |
| Roger Ptolemy | Director |
| Cinnamon Kansoff | Secretary |
| Robert P Harrington Ph D | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $156,355
- Program Service Revenue
- $426,304
- Investment Income
- $81
- Other Revenue
- $166
- All Other Contributions
- $140,355
- Change in Net Assets
- $-96,915
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $326,622 |
| Other Expenses | $289,149 |
| Grants and Similar Amounts Paid | $64,050 |
| Total Fundraising Expense | $33,895 |
| Professional Fundraising Fees | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $229,526 | $37,973 | $2,042 | $269,541 |
| Interest | $84,388 | $3,750 | $5,626 | $93,764 |
| Depreciation Depletion | $58,940 | $11,990 | $3,091 | $74,021 |
| Grants to Domestic Individuals | $64,050 | - | - | $64,050 |
| Occupancy | $34,962 | $1,555 | $2,330 | $38,847 |
| Current Officers, Directors, Trustees, and Key Employees | $10,548 | $10,867 | $10,548 | $31,963 |
| Fees for Services Accounting | - | $25,535 | - | $25,535 |
| Payroll Taxes | $20,000 | $4,069 | $1,049 | $25,118 |
| Fees for Services Other | $2,701 | $6,000 | $6,000 | $14,701 |
| Information Technology | $6,651 | $296 | $443 | $7,390 |
| Office Expenses | $2,828 | $3,914 | $494 | $7,236 |
| Insurance | $6,199 | $276 | $413 | $6,888 |
| Advertising | $3,280 | - | $1,766 | $5,046 |
| All Other Expenses | $732 | $1,349 | $38 | $2,119 |
| Other Expenses | $1,054 | $215 | $55 | $1,324 |
| Fees for Services Legal | - | $387 | - | $387 |
| Travel | $8 | $2 | - | $10 |
| Total Functional Expenses | $537,748 | $108,178 | $33,895 | $679,821 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- Yes
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Backup withholding compliance
- Yes
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- Yes
- Other officer compensation reviewed
- Yes
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Page 6, Part VI, Line 11B
“Approximately a week prior to filing form 990, a draft in pdf format is sent to all board members for review. Comments and corrections are strongly encouraged.”
Form 990, Page 6, Part VI, Line 12C
“The policy requires officers, directors, and key employees to annually disclose interests that could give rise to conflicts. The policy and disclosure form are distributed and collected annually, and individuals are required to update the disclosure form throughout the year in the event that potential conflicts arise. Potential conflicts of interest are reviewed by the board of directors.”
Form 990, Page 6, Part VI, Line 15A
“The board of directors reviews and approves the head of school's annual salary, with no participation by the head of school or other interested persons. The head of school salary is established using comparable data for similar qualified persons in functionally comparable positions at similar nonprofits; consideration of roles and responsibilities of the head of school; and cost of living data. Comparable market data is obtained from salary surveys and form 990s filed by comparable not-for-profit organizations. Discussions and decisions regarding the compensation are documented in the board meeting minutes.”
Form 990, Page 6, Part VI, Line 15B
“A line item budget is approved by the board of directors annually. The board approves the overall salaries and benefits expenses. Discussions and decisions regarding the budget are documented in board meeting minutes. The head of school reviews and approves the salaries of other officers or key employees, with no participation by the interested person, in accordance with the annual budget approved by the board. The head of school establishes salaries using comparable data for similarly qualified persons in functionally comparable positions at similar nonprofits; consideration of roles and responsibilities of the officer or key employee; and cost of living data. Comparable market data is obtained from salary surveys and form 990s filed by comparable not-for-profit organizations.”
Form 990, Page 6, Part VI, Line 19
“We consider requests on a case-by-case basis.”
Filing and Contact Details
Filer
- Filer Name
- Liberty School Inc
- EIN
- 20-8600388
- Phone
- 9703854834
- Address
- 3107 WESTERN AVE, DURANGO, CO 81301
Signing Officer
- Name
- Douglas C Holmen
- Title
- Head of School
- Phone
- 9703854834
- Signed
- 2020-01-23
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Douglas C Holmen
- Formed
- 2007
- Legal Domicile
- Co
- Voting Board Members
- 5
- Independent Board Members
- 5
- Employees
- 20
- Volunteers
- 5
Preparer
- Firm
- Taylor Roth and Company
- Address
- 800 GRANT ST STE 205, DENVER, CO 80203-2944
- Preparer
- Ken Roth
- Phone
- 3038308109
Supplemental Narrative
Additional Explanations
Form 990, Page 1, Part I, Line 6
“Volunteers provide assistance in the following areas: fluency reading, fundraising, accounting, field trips, office assistance, guest speakers, and technology support. In addition, members of the board of directors serve in a volunteer capacity.”
Form 990, Part X
“Form 990, part x, lines 27 - 29: the organization has adopted the principles of fasb asu no. 2016-14 (asc 958) for its audited financial statements for the period ended june 30, 2019. To date, form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have included the net asset categories in our financial statements on existing form 990, part x, lines 27 - 29 as follows: net assets without donor restrictions 2,500,223 net assets with donor restrictions 27,348 ---------- total net assets 2,527,571 ========== unrestricted net assets 2,500,223 temporarily restricted net assets 27,348 permanently restricted net assets -- ---------- total net assets 2,527,571 ==========”
Form 990, Part XI, Line 9
“Tuition discounts -64,050 tuition discounts 64,050”
Financial Statement Notes
Schedule D, Page 3, Part X
“The school has received an internal revenue service exemption from federal income taxes under section 501(c)(3). Accordingly, no provision or liability for income taxes has been provided in the accompanying financial statements.”
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| IRS990/Desc | 0 | LIBERTY SCHOOL IS A FULLY ACCREDITED ORGANIZATION SERVING THE SOUTHWEST REGION OF COLORADO, EDUCATING DYSLEXIC, GIFTED, AND TWICE EXCEPTIONAL STUDENTS IN GRADES ONE THROUGH EIGHT USING AN INDIVIDUALLY TAILORED CURRICULUM. IN ADDITION, TRAININGS AND SCREENING EVALUATIONS ARE PROVIDED TO THE COMMUNITY AT REDUCED OR FREE RATES. |
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| IRS990/OtherExpensesGrp/Desc | 2 | STUDENT FOOD |
| IRS990/OtherExpensesGrp/Desc | 3 | PROFESSIONAL DEVELOPMENT |
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| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 215 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 5686 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 3862 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 2333 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 1054 |
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| IRS990/OtherExpensesGrp/TotalAmt | 1 | 3862 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 2333 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 1324 |
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| IRS990/OtherRevenueMiscGrp/Desc | 0 | OTHER REVENUE |
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| IRS990/PayrollTaxesGrp/FundraisingAmt | 0 | 1049 |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 4069 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 20000 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 25118 |
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| IRS990/PledgesAndGrantsReceivableGrp/EOYAmt | 0 | 45712 |
| IRS990/PoliticalCampaignActyInd | 0 | false |
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| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 748 |
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| IRS990/ProgramServiceRevenueGrp/Desc | 0 | TUITION AND FEES |
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| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 4045 |
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| IRS990/PYProgramServiceRevenueAmt | 0 | 360022 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 625093 |
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| IRS990/ReportOtherLiabilitiesInd | 0 | false |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
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| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 202920 |
| IRS990ScheduleA/SchoolInd | 0 | X |
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| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
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| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 16887 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 5396 |
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| IRS990ScheduleD/FootnoteTextInd | 0 | X |
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| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 880000 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE SCHOOL HAS RECEIVED AN INTERNAL REVENUE SERVICE EXEMPTION FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3). ACCORDINGLY, NO PROVISION OR LIABILITY FOR INCOME TAXES HAS BEEN PROVIDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE D, PAGE 3, PART X |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 3822789 |
| IRS990ScheduleE/ComplianceWithRevProc7550Ind | 0 | true |
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| IRS990ScheduleE/DiscriminateRaceAthltProgInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceEducPlcyInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceOtherActyInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceSchsInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd | 0 | false |
| IRS990ScheduleE/GovernmentFinancialAidRcvdInd | 0 | false |
| IRS990ScheduleE/GovernmentFinancialAidRvkdInd | 0 | false |
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| IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd | 0 | true |
| IRS990ScheduleE/MaintainRacialCompRecsInd | 0 | true |
| IRS990ScheduleE/MaintainScholarshipsRecsInd | 0 | true |
| IRS990ScheduleE/NondiscriminatoryPolicyStmtInd | 0 | true |
| IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd | 0 | false |
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| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 0 | THE NONDISCRIMINATION POLICY IS AVAILABLE UPON REQUEST FROM THE OFFICE OF THE ADMINISTRATIVE DIRECTOR. THE POLICY ACCOMPANIES GRANT REQUESTS. |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE E, LINE 3 |
| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | true |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt | 0 | 64050 |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt | 0 | FINANCIAL AID |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc | 0 | TUITION DISC |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt | 0 | 11 |
| IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt | 0 | FULL-PAY STUDENTS AND BOARD SCHOLARSHIPS: 1. FAMILIES SEEKING A BOARD SCHOLARSHIP STUDENT AWARD SHALL SUBMIT A SCHOLARSHIP APPLICATION, A COPY OF THEIR MOST RECENT IRS FORM 1040, AND OTHER FINANCIAL INFORMATION REQUESTED BY THE HEAD OF SCHOOL OR THE BOARD. 2. THE HEAD OF SCHOOL AND AT LEAST ONE BOARD MEMBER WILL CREATE AN ANONYMOUS LIST OF SCHOLARSHIP AWARD RECOMMENDATIONS FOR BOARD DISCUSSION, MODIFICATION, AND FORMAL APPROVAL PRIOR TO NOTIFICATION OF PARENTS. 3. NO MORE THAN 30% OF PROJECTED GROSS TUITION REVENUE SHALL BE AWARDED TO BOARD SCHOLARSHIP STUDENTS. 4. NO INDIVIDUAL BOARD SCHOLARSHIP STUDENT AWARD SHALL EXCEED 50% OF TUITION. SPECIAL CIRCUMSTANCE SCHOLARSHIPS: 1. SPECIAL CIRCUMSTANCE STUDENTS ARE DEFINED AS (A) CURRENT STUDENTS UNABLE TO CONTINUE AT LIBERTY SCHOOL BECAUSE OF A CHANGE IN THEIR FAMILY'S FINANCIAL CIRCUMSTANCES AND (B) STUDENTS WHO WOULD NOT NORMALLY BE ACCEPTED BECAUSE OF THE INABILITY OF THEIR FAMILIES TO AFFORD ONE-HALF TUITION. 2. THE FAMILIES OF SPECIAL CIRCUMSTANCE STUDENTS MAKE A PERSONALLY SIGNIFICANT FINANCIAL CONTRIBUTION. 3. ACCEPTANCE OF INDIVIDUAL SPECIAL CIRCUMSTANCE STUDENTS REQUIRE A BOARD RESOLUTION. 4. SEPARATE BANK ACCOUNT CREATED AND MANAGED BY THE BOARD: --DEPOSITS INCLUDE FUNDS DESIGNATED BY GRANTORS AND CONTRIBUTORS FOR SPECIAL CIRCUMSTANCE SCHOLARSHIPS, TUITION PAYMENTS BY THE FAMILIES RECEIVING THE SCHOLARSHIPS, AND OTHER FUNDS DESIGNATED BY THE BOARD. --TRANSFERS TO FUNDS WITHOUT DONOR RESTRICTIONS REQUIRE A BOARD APPROVAL. |
| IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE I, PAGE 1, PART I, LINE 2 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | VOLUNTEERS PROVIDE ASSISTANCE IN THE FOLLOWING AREAS: FLUENCY READING, FUNDRAISING, ACCOUNTING, FIELD TRIPS, OFFICE ASSISTANCE, GUEST SPEAKERS, AND TECHNOLOGY SUPPORT. IN ADDITION, MEMBERS OF THE BOARD OF DIRECTORS SERVE IN A VOLUNTEER CAPACITY. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | APPROXIMATELY A WEEK PRIOR TO FILING FORM 990, A DRAFT IN PDF FORMAT IS SENT TO ALL BOARD MEMBERS FOR REVIEW. COMMENTS AND CORRECTIONS ARE STRONGLY ENCOURAGED. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE POLICY REQUIRES OFFICERS, DIRECTORS, AND KEY EMPLOYEES TO ANNUALLY DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICTS. THE POLICY AND DISCLOSURE FORM ARE DISTRIBUTED AND COLLECTED ANNUALLY, AND INDIVIDUALS ARE REQUIRED TO UPDATE THE DISCLOSURE FORM THROUGHOUT THE YEAR IN THE EVENT THAT POTENTIAL CONFLICTS ARISE. POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED BY THE BOARD OF DIRECTORS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE HEAD OF SCHOOL'S ANNUAL SALARY, WITH NO PARTICIPATION BY THE HEAD OF SCHOOL OR OTHER INTERESTED PERSONS. THE HEAD OF SCHOOL SALARY IS ESTABLISHED USING COMPARABLE DATA FOR SIMILAR QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILAR NONPROFITS; CONSIDERATION OF ROLES AND RESPONSIBILITIES OF THE HEAD OF SCHOOL; AND COST OF LIVING DATA. COMPARABLE MARKET DATA IS OBTAINED FROM SALARY SURVEYS AND FORM 990S FILED BY COMPARABLE NOT-FOR-PROFIT ORGANIZATIONS. DISCUSSIONS AND DECISIONS REGARDING THE COMPENSATION ARE DOCUMENTED IN THE BOARD MEETING MINUTES. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | A LINE ITEM BUDGET IS APPROVED BY THE BOARD OF DIRECTORS ANNUALLY. THE BOARD APPROVES THE OVERALL SALARIES AND BENEFITS EXPENSES. DISCUSSIONS AND DECISIONS REGARDING THE BUDGET ARE DOCUMENTED IN BOARD MEETING MINUTES. THE HEAD OF SCHOOL REVIEWS AND APPROVES THE SALARIES OF OTHER OFFICERS OR KEY EMPLOYEES, WITH NO PARTICIPATION BY THE INTERESTED PERSON, IN ACCORDANCE WITH THE ANNUAL BUDGET APPROVED BY THE BOARD. THE HEAD OF SCHOOL ESTABLISHES SALARIES USING COMPARABLE DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILAR NONPROFITS; CONSIDERATION OF ROLES AND RESPONSIBILITIES OF THE OFFICER OR KEY EMPLOYEE; AND COST OF LIVING DATA. COMPARABLE MARKET DATA IS OBTAINED FROM SALARY SURVEYS AND FORM 990S FILED BY COMPARABLE NOT-FOR-PROFIT ORGANIZATIONS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | WE CONSIDER REQUESTS ON A CASE-BY-CASE BASIS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | FORM 990, PART X, LINES 27 - 29: THE ORGANIZATION HAS ADOPTED THE PRINCIPLES OF FASB ASU NO. 2016-14 (ASC 958) FOR ITS AUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED JUNE 30, 2019. TO DATE, FORM 990 AND ITS ASSOCIATED SCHEDULES HAVE NOT BEEN UPDATED TO REFLECT CHANGES MADE BY THIS STANDARD. THUS, WE HAVE INCLUDED THE NET ASSET CATEGORIES IN OUR FINANCIAL STATEMENTS ON EXISTING FORM 990, PART X, LINES 27 - 29 AS FOLLOWS: NET ASSETS WITHOUT DONOR RESTRICTIONS 2,500,223 NET ASSETS WITH DONOR RESTRICTIONS 27,348 ---------- TOTAL NET ASSETS 2,527,571 ========== UNRESTRICTED NET ASSETS 2,500,223 TEMPORARILY RESTRICTED NET ASSETS 27,348 PERMANENTLY RESTRICTED NET ASSETS -- ---------- TOTAL NET ASSETS 2,527,571 ========== |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | TUITION DISCOUNTS -64,050 TUITION DISCOUNTS 64,050 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PAGE 1, PART I, LINE 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 15A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PAGE 6, PART VI, LINE 15B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PART X |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PART XI, LINE 9 |
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| IRS990/SignificantChangeInd | 0 | false |
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| IRS990/SubjectToProxyTaxInd | 0 | false |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt | 0 | 2301846 |
| IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt | 0 | 27348 |
| IRS990/TempOrPermanentEndowmentsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
| IRS990/TotalAssetsBOYAmt | 0 | 3785604 |
| IRS990/TotalAssetsEOYAmt | 0 | 4152764 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 3785604 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 4152764 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalContributionsAmt | 0 | 156355 |
| IRS990/TotalEmployeeCnt | 0 | 20 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 33895 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 108178 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 537748 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 679821 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 1161118 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 1625193 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 1161118 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 1625193 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 2624486 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 2527571 |
| IRS990/TotalProgramServiceExpensesAmt | 0 | 537748 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 426304 |
| IRS990/TotalReportableCompFromOrgAmt | 0 | 31963 |
| IRS990/TotalRevenueGrp/ExclusionAmt | 0 | 81 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 426470 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 582906 |
| IRS990/TotalVolunteersCnt | 0 | 5 |
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| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 4152764 |
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| IRS990/TravelGrp/TotalAmt | 0 | 10 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2019 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $4,152,764
- Liabilities
- $1,625,193
- Net assets
- $2,527,571
- Revenue
- $582,906
- Expenses
- $679,821
- Net income
- -$96,915