Civic Intelligence

Holy Family Academy

990 • Fiscal year 2020 • EIN 23-2939532

Jul 01, 2019 to Jun 30, 2020 • Filed on May 06, 2021

Organization ProfileWWW.HFI-PGH.ORG
8235 Ohio River BoulevardPittsburgh, PA 15202

(412) 766-4030

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

81st percentile

0.51x

Higher debt load relative to assets than 81% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

49th percentile

0.13x

Higher debt load relative to revenue than 49% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

41st percentile

1.4%

Higher net margin than 41% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

87th percentile

$173,649

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 3.8% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

3rd percentile

-26%

Faster asset growth than 3% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

31st percentile

-12%

Faster revenue growth than 31% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$1,195,031

Down $415,122 (-26%) from 2019

Net Assets

Up

$586,615

Up $63,796 (+12%) from 2019

Liabilities

Down

$608,416

Down $478,918 (-44%) from 2019

Revenue And Expenses
Liabilities / Revenue49th percentileNet Margin41st percentile

Revenue

Down

$4,576,580

Down $628,214 (-12%) from 2019

Expenses

Down

$4,512,784

Down $664,771 (-13%) from 2019

Net Income

Up

$63,796

Up $36,557 (+134%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MAssets 2010: $3,396,507Liabilities 2010: $4,463,237Net Assets 2010: -$1,066,7302010Assets 2011: $2,644,702Liabilities 2011: $3,740,262Net Assets 2011: -$1,095,5602011Assets 2012: $1,060,003Liabilities 2012: $1,083,364Net Assets 2012: -$23,3612012Assets 2013: $1,794,633Liabilities 2013: $1,645,249Net Assets 2013: $149,3842013Assets 2014: $2,350,759Liabilities 2014: $1,805,347Net Assets 2014: $545,4122014Assets 2015: $4,060,608Liabilities 2015: $2,212,160Net Assets 2015: $1,848,4482015Assets 2016: $3,197,648Liabilities 2016: $2,238,073Net Assets 2016: $959,5752016Assets 2017: $2,869,997Liabilities 2017: $2,160,222Net Assets 2017: $709,7752017Assets 2018: $2,354,462Liabilities 2018: $1,858,881Net Assets 2018: $495,5812018Assets 2019: $1,610,153Liabilities 2019: $1,087,334Net Assets 2019: $522,8192019Assets 2020: $1,195,031Liabilities 2020: $608,416Net Assets 2020: $586,6152020Assets 2021: $1,027,158Liabilities 2021: $1,237,161Net Assets 2021: -$210,0032021Assets 2022: $828,233Liabilities 2022: $2,863,912Net Assets 2022: -$2,035,6792022Assets 2023: $1,422,212Liabilities 2023: $1,400,031Net Assets 2023: $22,1812023Assets 2024: $2,175,475Liabilities 2024: $239,004Net Assets 2024: $1,936,4712024

Highlighted filing

2020

Assets$1,195,031
Liabilities$608,416
Net Assets$586,615
Open 2020 Filing

Operations Trend

Revenue Growth31st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $11,354,7102010Expenses 2011: $9,932,5862011Expenses 2012: $1,099,8272012Revenue 2013: $2,350,677Expenses 2013: $2,178,211Net Income 2013: $172,4662013Revenue 2014: $2,588,265Expenses 2014: $2,263,906Net Income 2014: $324,3592014Revenue 2015: $5,828,464Expenses 2015: $4,525,428Net Income 2015: $1,303,0362015Revenue 2016: $4,621,908Expenses 2016: $5,510,777Net Income 2016: -$888,8692016Revenue 2017: $5,513,218Expenses 2017: $5,763,018Net Income 2017: -$249,8002017Revenue 2018: $5,494,247Expenses 2018: $5,708,440Net Income 2018: -$214,1932018Revenue 2019: $5,204,794Expenses 2019: $5,177,555Net Income 2019: $27,2392019Revenue 2020: $4,576,580Expenses 2020: $4,512,784Net Income 2020: $63,7962020Revenue 2021: $3,224,863Expenses 2021: $4,021,481Net Income 2021: -$796,6182021Revenue 2022: $2,275,152Expenses 2022: $4,100,828Net Income 2022: -$1,825,6762022Revenue 2023: $5,182,051Expenses 2023: $3,124,192Net Income 2023: $2,057,8592023Revenue 2024: $4,566,516Expenses 2024: $2,652,226Net Income 2024: $1,914,2902024

Highlighted filing

2020

Revenue$4,576,580
Expenses$4,512,784
Net Income$63,796
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 6, 2021
Return Version
2019v5.2
Gross Receipts
$4,576,580
Mission and Program Overview

Mission

Nazareth prep is an innovative independent catholic school providing students of all faiths and economic status with a high school education leading to college or stem-focused careers.

Nazareth prep is a catholic high school for students of all faiths and economic backgrounds.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,572,623$922,269▼ $650,354
Pledges and Grants Receivable$26,170$265,464▲ $239,294
Prepaid Expenses and Deferred Charges$11,360$7,298▼ $4,062
Total Assets$1,610,153$1,195,031▼ $415,122
Liabilities
Deferred Revenue$372,924$0▼ $372,924
Other Liabilities$257,099$329,846▲ $72,747
Accounts Payable and Accrued Expenses$457,311$278,570▼ $178,741
Total Liabilities$1,087,334$608,416▼ $478,918
Net Assets / Fund Balance
Net Assets With Donor Restrictions$573,359$910,338▲ $336,979
Net Assets Without Donor Restrictions$-50,540$-323,723▼ $273,183
Total Net Assets Fund Balance$522,819$586,615▲ $63,796
Total Liabilities and Net Assets / Fund Balance$1,610,153$1,195,031▼ $415,122
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Mark PalastroCFOFT$129,989$129,989
Joseph OliphantPrincipalFT$84,492$84,492
Deborah GoodenProgram DirectorFT$72,420$72,420

Board Members and Trustees

NameTitle
Reverend Thomas Schaefer PhdChair
Sister Linda Yankoski Csfn EddPresident/CEO
Anthony R PetroyVice Chair
Bart RoccoTrustee
Douglas DescalziTrustee
John OlszewskiTrustee
Judith R Griggs PhdTrustee
Kenneth ServiceTrustee
Michael R OwensTrustee
Mike EngleTrustee
Paul R UhlerTrustee
William CullenSecretary
Christopher H PhillipsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,821,391
Program Service Revenue
$755,189
Investment Income
$0
Other Revenue
$0
All Other Contributions
$98,168
Change in Net Assets
$63,796

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,576,580
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$21,002
Total Revenue per Audited Statements
$4,597,582
Total Revenue per Form 990
$4,576,580
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,584,813
Other Expenses$1,927,971
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,073,311--$2,073,311
Payments to Affiliates-$400,161-$400,161
Other Employee Benefits$348,965--$348,965
Office Expenses$278,083--$278,083
Occupancy$217,019--$217,019
Payroll Taxes$162,537--$162,537
All Other Expenses$123,507--$123,507
Fees for Services Other$100,350--$100,350
Travel$97,883--$97,883
Other Expenses$76,812--$76,812
Fees for Services Accounting$14,300--$14,300
Conferences and Meetings$9,583--$9,583
Fees for Services Legal$6,608--$6,608
Interest$733--$733
Total Functional Expenses$4,112,623$400,161$0$4,512,784

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,533,786
Expenses per Audited Statements$4,512,784
Total Expenses per Form 990$4,512,784
Expenses Not Reported on Form 990$21,002
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Parties$329,846
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The sole member of nazareth prep shall be holy family institute, a pennsylvania nonprofit corporation.”

Form 990, Part VI, Section A, Line 7A

“The member may exercise its reserved powers by taking either of the following actions: (a) the board of directors of the member may act on the member's behalf in exercising the member's reserved powers over the corporation. (b) the board of directors of the member may by resolution appoint any two officers of the member to act on the member's behalf and such authorization may be general or limited to specific instances. The governance and operations of the corporation shall be subject to the member's right to exercise reserved powers. These reserved powers include the right to appoint and remove the board of trustees or any one or more of the trustees of the corporation, the executive director, and the chief executive officer of any affiliate.”

Form 990, Part VI, Section A, Line 7B

“The governance and operations of the corporation shall be subject to the member's right to exercise reserved powers. These reserved powers include the right to: (a) approve the recommendation of the board of trustees to appoint or remove the board of trustees or any one of more of the trustees of the corporation, the executive director, and the chief executive officer of any affiliate; (b) approve the purchase, sale, alienation, exchange, lease or encumbrance of any real property of the corporation or any affiliate; (c) approve the sale of substantially all of the assets of the corporation or of any affiliate; (d) approve the merger or dissolution of the corporation or of any affiliate; (e) approve the strategic plan of the corporation; (f) approve borrowing or financial obligation by the corporation or any affiliate; (g) approve any incremental or addition to the debt and/or renegotiation, modification or other change of existing debt of the corporation or of any affiliate; (h) approve the formation of any affiliate; (i) approve the policy for the distribution of grants of the corporation to any other corporation; (j) adopt policies to implement the reserved powers of the member”

Form 990, Part VI, Section B, Line 11B

“A copy of the draft 990 is reviewed by the cfo, president, and finance committee and made available to the board of directors prior to its filing.”

Form 990, Part VI, Section B, Line 12C

“The interested person must disclose the existence of the financial interest and must be given the opportunity to disclose all material facts to the directors and members of the committee. If it is believed a member has failed to disclose, the member shall be informed of the basis for such belief and the board will afford the member an opportunity to explain the failure to disclose. If deemed necessary the board shall take appropriate corrective and disciplinary action.”

Form 990, Part VI, Section B, Line 15

“It is the policy of holy family that all executive compensation paid by the organization is reasonable based upon a review of comparability information. The policy provides a procedure for the review and approval of the compensation of the officers, directors, ceo, executive director or top management official, and key employees of the organization consistent with applicable federal tax law and pennsylvania law, with particular emphasis on "disqualified persons." using comparability data of like organizations, compensation is awarded after it is reviewed and approved by the human resource committee. Such actions are recorded in the minutes of the human resource committee meeting. Only persons without a conflict of interest with respect to the compensation arrangement at issue are involved.”

Form 990, Part VI, Section C, Line 19

“The above items are available upon request at nazareth prep's administrative location during normal business hours. In addition, the organization's 990 is available online at www.guidestar.org.”

Filing and Contact Details

Filer

Filer Name
Nazareth Prep
EIN
23-2939532
Phone
4127664030
Address
8235 OHIO RIVER BOULEVARD, PITTSBURGH, PA 15202

Signing Officer

Name
Mark Palastro
Title
CFO
Phone
4127664030
Signed
2021-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sister Linda Yankoski
Formed
1997
Legal Domicile
Pa
Voting Board Members
13
Independent Board Members
12
Employees
0
Volunteers
20

Preparer

Firm
Grossman Yanak & Ford Llp
Address
THREE GATEWAY CTR STE 1800, PITTSBURGH, PA 15222
Preparer
Richard E Dynoske
Phone
4123389300
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

“Training-to-career program, a program that helps companies identify and train a skilled workforce through targeted programs and services. Teacher in workplace will continue offering manufacturing career opportunities to students utilizing curriculum that combines project-based learning with an internship program that pairs students age 14 and older with local companies throughout all four years of high school. Dced manufacturing, the manufacturing pa training-to-career program, works collaboratively with local manufactureres to identify and teach missing essential skills for entry level applicants seeking manufacturing employment, engage youth or those with barriers to career opportunities in manufacturing, and or advance capacity for local or regional manufacturers.”

Form 990, Part XII, Line 2C

“There were no changes to this process for 2019-2020.”

Financial Statement Notes

PART X, LINE 2:

“Fin 48 footnote - the internal revenue service has recognized hfa as exempt from federal income taxes under section 501(c)(3) of the internal revenue code and has further classified hfa as an organization which is not a private foundation. Accordingly, a provision for federal or state income tax is not required. After an assessment of nazareth prep's tax positions, management believes that there is no liability related to uncertain tax positions at june 30, 2020. Nazareth prep is no longer subject to tax examinations for years before june 30, 2016.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0NAZARETH PREP IS AN INNOVATIVE INDEPENDENT CATHOLIC SCHOOL PROVIDING STUDENTS OF ALL FAITHS AND ECONOMIC STATUS WITH A HIGH SCHOOL EDUCATION LEADING TO COLLEGE OR STEM-FOCUSED CAREERS. THE RIGOROUS CURRICULUM IS COMBINED WITH A FOUR-YEAR CORPORATE INTERNSHIP THAT PREPARES STUDENTS WITH SOFT SKILLS WHILE CHARTING THEIR CAREER PATHWAY, WHETHER IT INCLUDES TRADITIONAL COLLEGE, AN APPRENTICESHIP, DIRECT TO WORK, OR ANY COMBINATION OF POST-SECONDARY TRAINING THROUGH FAITH AND PURPOSE-DRIVEN INSTRUCTION. NAZARETH PREP IS A SUBSIDIARY OF HOLY FAMILY INSTITUTE AND SUPPORTED BY THE FUNDRAISING EFFORTS OF HOLY FAMILY FOUNDATION, ANOTHER HFI SUBSIDIARY.THE ORGANIZATION ALSO INCLUDES THE INTERNATIONAL COLLEGE PREPARATORY PROGRAM. THIS CO-EDUCATIONAL RESIDENTIAL PROGRAM IS FOR INTERNATIONAL STUDENTS WHO WISH TO ATTEND HIGH SCHOOL IN THE UNITED STATES IN PREPARATION FOR ENROLLMENT AT LEADING COLLEGES AND UNIVERSITIES. STUDENTS ARE HOUSED ON THE HOLY FAMILY INSTITUTE CAMPUS AND TRANSPORTED TO SEVERAL LOCAL PRIVATE SCHOOLS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt1TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6PRESIDENT/CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt14PRINCIPAL
IRS990/Form990PartVIISectionAGrp/TitleTxt15PROGRAM DIRECTOR
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IRS990/MissionDesc0NAZARETH PREP IS AN INNOVATIVE INDEPENDENT CATHOLIC SCHOOL PROVIDING STUDENTS OF ALL FAITHS AND ECONOMIC STATUS WITH A HIGH SCHOOL EDUCATION LEADING TO COLLEGE OR STEM-FOCUSED CAREERS.
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IRS990/OtherExpensesGrp/Desc2AGENT FEES
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IRS990/OtherExpensesGrp/ProgramServicesAmt376812
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IRS990/OtherExpensesGrp/TotalAmt2143602
IRS990/OtherExpensesGrp/TotalAmt376812
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTIES
IRS990ScheduleD/RevenueNotReportedAmt021002
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt04576580
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FIN 48 FOOTNOTE - THE INTERNAL REVENUE SERVICE HAS RECOGNIZED HFA AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAS FURTHER CLASSIFIED HFA AS AN ORGANIZATION WHICH IS NOT A PRIVATE FOUNDATION. ACCORDINGLY, A PROVISION FOR FEDERAL OR STATE INCOME TAX IS NOT REQUIRED. AFTER AN ASSESSMENT OF NAZARETH PREP'S TAX POSITIONS, MANAGEMENT BELIEVES THAT THERE IS NO LIABILITY RELATED TO UNCERTAIN TAX POSITIONS AT JUNE 30, 2020. NAZARETH PREP IS NO LONGER SUBJECT TO TAX EXAMINATIONS FOR YEARS BEFORE JUNE 30, 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04533786
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/HousingAllowanceOrResidenceInd0X
IRS990ScheduleJ/IndependentConsultantInd0X
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SISTER LINDA YANKOSKI CSFN EDD
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0173649
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SubstantiationRequiredInd01
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0EXPENSES FOR THE RESIDENCE FOR PERSONAL USE ARE PAID BASED FROM ACTUAL INVOICES RECEIVED. COMPENSATION WAS NOT PAID DIRECTLY TO SISTER LINDA YANKOSKI. PAYMENTS WERE MADE TO HER ORDER, SISTERS OF THE HOLY FAMILY OF NAZARETH.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 1B
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenPolicyRefTAndEExpnssInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TRAINING-TO-CAREER PROGRAM, A PROGRAM THAT HELPS COMPANIES IDENTIFY AND TRAIN A SKILLED WORKFORCE THROUGH TARGETED PROGRAMS AND SERVICES. TEACHER IN WORKPLACE WILL CONTINUE OFFERING MANUFACTURING CAREER OPPORTUNITIES TO STUDENTS UTILIZING CURRICULUM THAT COMBINES PROJECT-BASED LEARNING WITH AN INTERNSHIP PROGRAM THAT PAIRS STUDENTS AGE 14 AND OLDER WITH LOCAL COMPANIES THROUGHOUT ALL FOUR YEARS OF HIGH SCHOOL. DCED MANUFACTURING, THE MANUFACTURING PA TRAINING-TO-CAREER PROGRAM, WORKS COLLABORATIVELY WITH LOCAL MANUFACTURERES TO IDENTIFY AND TEACH MISSING ESSENTIAL SKILLS FOR ENTRY LEVEL APPLICANTS SEEKING MANUFACTURING EMPLOYMENT, ENGAGE YOUTH OR THOSE WITH BARRIERS TO CAREER OPPORTUNITIES IN MANUFACTURING, AND OR ADVANCE CAPACITY FOR LOCAL OR REGIONAL MANUFACTURERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SOLE MEMBER OF NAZARETH PREP SHALL BE HOLY FAMILY INSTITUTE, A PENNSYLVANIA NONPROFIT CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE MEMBER MAY EXERCISE ITS RESERVED POWERS BY TAKING EITHER OF THE FOLLOWING ACTIONS: (A) THE BOARD OF DIRECTORS OF THE MEMBER MAY ACT ON THE MEMBER'S BEHALF IN EXERCISING THE MEMBER'S RESERVED POWERS OVER THE CORPORATION. (B) THE BOARD OF DIRECTORS OF THE MEMBER MAY BY RESOLUTION APPOINT ANY TWO OFFICERS OF THE MEMBER TO ACT ON THE MEMBER'S BEHALF AND SUCH AUTHORIZATION MAY BE GENERAL OR LIMITED TO SPECIFIC INSTANCES. THE GOVERNANCE AND OPERATIONS OF THE CORPORATION SHALL BE SUBJECT TO THE MEMBER'S RIGHT TO EXERCISE RESERVED POWERS. THESE RESERVED POWERS INCLUDE THE RIGHT TO APPOINT AND REMOVE THE BOARD OF TRUSTEES OR ANY ONE OR MORE OF THE TRUSTEES OF THE CORPORATION, THE EXECUTIVE DIRECTOR, AND THE CHIEF EXECUTIVE OFFICER OF ANY AFFILIATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNANCE AND OPERATIONS OF THE CORPORATION SHALL BE SUBJECT TO THE MEMBER'S RIGHT TO EXERCISE RESERVED POWERS. THESE RESERVED POWERS INCLUDE THE RIGHT TO: (A) APPROVE THE RECOMMENDATION OF THE BOARD OF TRUSTEES TO APPOINT OR REMOVE THE BOARD OF TRUSTEES OR ANY ONE OF MORE OF THE TRUSTEES OF THE CORPORATION, THE EXECUTIVE DIRECTOR, AND THE CHIEF EXECUTIVE OFFICER OF ANY AFFILIATE; (B) APPROVE THE PURCHASE, SALE, ALIENATION, EXCHANGE, LEASE OR ENCUMBRANCE OF ANY REAL PROPERTY OF THE CORPORATION OR ANY AFFILIATE; (C) APPROVE THE SALE OF SUBSTANTIALLY ALL OF THE ASSETS OF THE CORPORATION OR OF ANY AFFILIATE; (D) APPROVE THE MERGER OR DISSOLUTION OF THE CORPORATION OR OF ANY AFFILIATE; (E) APPROVE THE STRATEGIC PLAN OF THE CORPORATION; (F) APPROVE BORROWING OR FINANCIAL OBLIGATION BY THE CORPORATION OR ANY AFFILIATE; (G) APPROVE ANY INCREMENTAL OR ADDITION TO THE DEBT AND/OR RENEGOTIATION, MODIFICATION OR OTHER CHANGE OF EXISTING DEBT OF THE CORPORATION OR OF ANY AFFILIATE; (H) APPROVE THE FORMATION OF ANY AFFILIATE; (I) APPROVE THE POLICY FOR THE DISTRIBUTION OF GRANTS OF THE CORPORATION TO ANY OTHER CORPORATION; (J) ADOPT POLICIES TO IMPLEMENT THE RESERVED POWERS OF THE MEMBER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A COPY OF THE DRAFT 990 IS REVIEWED BY THE CFO, PRESIDENT, AND FINANCE COMMITTEE AND MADE AVAILABLE TO THE BOARD OF DIRECTORS PRIOR TO ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND MUST BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF THE COMMITTEE. IF IT IS BELIEVED A MEMBER HAS FAILED TO DISCLOSE, THE MEMBER SHALL BE INFORMED OF THE BASIS FOR SUCH BELIEF AND THE BOARD WILL AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE FAILURE TO DISCLOSE. IF DEEMED NECESSARY THE BOARD SHALL TAKE APPROPRIATE CORRECTIVE AND DISCIPLINARY ACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6IT IS THE POLICY OF HOLY FAMILY THAT ALL EXECUTIVE COMPENSATION PAID BY THE ORGANIZATION IS REASONABLE BASED UPON A REVIEW OF COMPARABILITY INFORMATION. THE POLICY PROVIDES A PROCEDURE FOR THE REVIEW AND APPROVAL OF THE COMPENSATION OF THE OFFICERS, DIRECTORS, CEO, EXECUTIVE DIRECTOR OR TOP MANAGEMENT OFFICIAL, AND KEY EMPLOYEES OF THE ORGANIZATION CONSISTENT WITH APPLICABLE FEDERAL TAX LAW AND PENNSYLVANIA LAW, WITH PARTICULAR EMPHASIS ON "DISQUALIFIED PERSONS." USING COMPARABILITY DATA OF LIKE ORGANIZATIONS, COMPENSATION IS AWARDED AFTER IT IS REVIEWED AND APPROVED BY THE HUMAN RESOURCE COMMITTEE. SUCH ACTIONS ARE RECORDED IN THE MINUTES OF THE HUMAN RESOURCE COMMITTEE MEETING. ONLY PERSONS WITHOUT A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE INVOLVED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ABOVE ITEMS ARE AVAILABLE UPON REQUEST AT NAZARETH PREP'S ADMINISTRATIVE LOCATION DURING NORMAL BUSINESS HOURS. IN ADDITION, THE ORGANIZATION'S 990 IS AVAILABLE ONLINE AT WWW.GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THERE WERE NO CHANGES TO THIS PROCESS FOR 2019-2020.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 2

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,195,031
Liabilities
$608,416
Net assets
$586,615
Revenue
$4,576,580
Expenses
$4,512,784
Net income
$63,796
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.18$0.24$1.94$4.57$2.65$1.91
2023Detailed filing. Detailed filing data is available for this year.$1.42$1.40$0.02$5.18$3.12$2.06
2022Detailed filing. Detailed filing data is available for this year.$0.83$2.86$2.04$2.28$4.10$1.83
2021Detailed filing. Detailed filing data is available for this year.$1.03$1.24$0.21$3.22$4.02$0.80
2020Detailed filing. Detailed filing data is available for this year.$1.20$0.61$0.59$4.58$4.51$0.06
2019Summary only. Only limited summary data is available for this year.$1.61$1.09$0.52$5.20$5.18$0.03
2018Detailed filing. Detailed filing data is available for this year.$2.35$1.86$0.50$5.49$5.71$0.21
2017Detailed filing. Detailed filing data is available for this year.$2.87$2.16$0.71$5.51$5.76$0.25
2016Detailed filing. Detailed filing data is available for this year.$3.20$2.24$0.96$4.62$5.51$0.89
2015Summary only. Only limited summary data is available for this year.$4.06$2.21$1.85$5.83$4.53$1.30
2014Summary only. Only limited summary data is available for this year.$2.35$1.81$0.55$2.59$2.26$0.32
2013Summary only. Only limited summary data is available for this year.$1.79$1.65$0.15$2.35$2.18$0.17
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.06$1.08$0.02$1.10
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.64$3.74$1.10$9.93
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.40$4.46$1.07$11.4