Civic Intelligence

Covenant Academy

990 • Fiscal year 2018 • EIN 30-0152850

Jul 01, 2017 to Jun 30, 2018 • Filed on May 10, 2019

11711 Telge RoadCypress, TX 77429

(281) 373-2233

Siviq Scores

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

Liabilities / Assets

39th percentile

0.04x

Higher debt load relative to assets than 39% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

37th percentile

0.05x

Higher debt load relative to revenue than 37% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

60th percentile

7.1%

Higher net margin than 60% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

59th percentile

$81,274

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

62nd percentile

4.8%

Faster asset growth than 62% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

92nd percentile

80%

Faster revenue growth than 92% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$3,078,785

Up $140,590 (+4.8%) from 2017

Net Assets

Up

$2,963,082

Up $177,259 (+6.4%) from 2017

Liabilities

Down

$115,703

Down $36,669 (-24%) from 2017

Revenue

Up

$2,480,836

Up $1,105,316 (+80%) from 2017

Expenses

Up

$2,303,577

Up $819,666 (+55%) from 2017

Net Income

Up

$177,259

Up $285,650 (+264%) from 2017

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2012: $3,414,978Liabilities 2012: $67,925Net Assets 2012: $3,347,0532012Assets 2013: $3,228,481Liabilities 2013: $53,913Net Assets 2013: $3,174,5682013Assets 2014: $3,137,979Liabilities 2014: $74,796Net Assets 2014: $3,063,1832014Assets 2015: $3,067,162Liabilities 2015: $76,133Net Assets 2015: $2,991,0292015Assets 2016: $2,968,937Liabilities 2016: $74,723Net Assets 2016: $2,894,2142016Assets 2017: $2,938,195Liabilities 2017: $152,372Net Assets 2017: $2,785,8232017Assets 2018: $3,078,785Liabilities 2018: $115,703Net Assets 2018: $2,963,0822018Assets 2019: $2,818,770Liabilities 2019: $116,538Net Assets 2019: $2,702,2322019Assets 2020: $2,879,840Liabilities 2020: $368,229Net Assets 2020: $2,511,6112020

Highlighted filing

2018

Assets$3,078,785
Liabilities$115,703
Net Assets$2,963,082

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2012: $1,268,6012012Expenses 2013: $1,057,9782013Revenue 2014: $1,012,012Expenses 2014: $1,123,397Net Income 2014: -$111,3852014Revenue 2015: $1,199,197Expenses 2015: $1,271,800Net Income 2015: -$72,6032015Revenue 2016: $1,360,309Expenses 2016: $1,457,123Net Income 2016: -$96,8142016Revenue 2017: $1,375,520Expenses 2017: $1,483,911Net Income 2017: -$108,3912017Revenue 2018: $2,480,836Expenses 2018: $2,303,577Net Income 2018: $177,2592018Revenue 2019: $1,662,160Expenses 2019: $1,923,010Net Income 2019: -$260,8502019Revenue 2020: $1,746,482Expenses 2020: $1,937,103Net Income 2020: -$190,6212020

Highlighted filing

2018

Revenue$2,480,836
Expenses$2,303,577
Net Income$177,259
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 10, 2019
Return Version
2017v2.3
Gross Receipts
$2,490,532
Mission and Program Overview

Mission

Covenant academy is a classical christian school for k-12 grades seeking to partner with parents to train students to be discerning, articulate followers of jesus christ and leaders in their sphere of influence.

Covenant academy is a classical christian school, grades prek - 12, seeking to partner with parents to train students to be discerning, articulate followers of jesus christ and leaders in their sphere of influence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,627,857$2,626,574▼ $1,283
Savings and Temporary Cash Investments$169,520$402,455▲ $232,935
Cash and Non-Interest-Bearing Accounts$127,435$34,378▼ $93,057
Prepaid Expenses and Deferred Charges$12,754$14,633▲ $1,879
Accounts Receivable$629$745▲ $116
Total Assets$2,938,195$3,078,785▲ $140,590
Liabilities
Deferred Revenue$93,621$60,379▼ $33,242
Accounts Payable and Accrued Expenses$58,751$55,324▼ $3,427
Total Liabilities$152,372$115,703▼ $36,669
Net Assets / Fund Balance
Unrestricted Net Assets$2,711,640$2,948,782▲ $237,142
Temporarily Rstr Net Assets$74,183$14,300▼ $59,883
Total Net Assets Fund Balance$2,785,823$2,963,082▲ $177,259
Total Liabilities and Net Assets / Fund Balance$2,938,195$3,078,785▲ $140,590

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,968,389$766,689$2,735,078
Land$514,625-$514,625
Equipment$83,785$96,964$180,749
Other Land Buildings$59,775$3,944$63,719
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Leslie CollinsHead of SchoFT$81,274$81,274

Board Members and Trustees

NameTitle
Dr David BrookesPresident
Jim HardwickBoard Member
Andy EllisSecretary
Derrick VeillonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Master Key BuildersConstruction Wo9535 CLAY ROAD, Houston, TX 77080$365,965
Revenue and Support

Revenue Composition

Contributions and Grants
$497,879
Program Service Revenue
$1,324,536
Investment Income
$1,077
Other Revenue
$657,344
All Other Contributions
$470,188
Change in Net Assets
$177,259
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,199,900
Other Expenses$990,227
Grants and Similar Amounts Paid$113,450
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$761,262$190,315-$951,577
Grants to Domestic Individuals$113,450--$113,450
Occupancy$84,100$21,025-$105,125
Current Officers, Directors, Trustees, and Key Employees$78,761$19,691-$98,452
Depreciation Depletion$74,581$18,645-$93,226
Other Employee Benefits$61,918$15,480-$77,398
Payroll Taxes$57,978$14,495-$72,473
Fees for Services Accounting$31,493$7,873-$39,366
Office Expenses$22,800$5,699-$28,499
Insurance$19,354$4,839-$24,193
Conferences and Meetings$15,506$3,877-$19,383
Information Technology$11,814$2,953-$14,767
Other Expenses$11,322$99,879-$11,322
Advertising$6,064$1,516-$7,580
Total Functional Expenses$1,897,290$406,287$0$2,303,577
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$9,790
Fundraising Direct Expenses$9,696
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Banquet$37,481$9,790$1,834$7,956
Total Events$37,481$9,790$9,696$94
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Part OwnerConstruction WorkNo$389,415
-OwnerConstruction WorkNo$1,525
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Other officer compensation reviewed
No
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

The 990 is sent to the board together with the internally prepared financials for their review. Once all questions have been resolved the 990 is e-filed and a final copy provided to the board.

Form 990, Page 6, Part VI, Line 12C

All board members are asked annually to disclose any financial conflict of interest. If any conflict of interest exists at any time, the affected board member(s) are asked to recuse themselves from discussion and vote when there are issues that are potential conflicts of interest. This policy is strictly enforced and potential conflicts and their resolution are noted in the board minutes.

Form 990, Page 6, Part VI, Line 19

Governing documents are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Covenant Academy
EIN
30-0152850
Phone
2813732233
Address
11711 TELGE ROAD, CYPRESS, TX 77429

Signing Officer

Name
Leslie Collins
Title
Head of School
Phone
2813732233
Signed
2019-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr David Brookes
Formed
2003
Legal Domicile
TX
Voting Board Members
4
Independent Board Members
4
Employees
37
Volunteers
100

Preparer

Firm
Cox and Associates Cpas LLC
Address
21960 HIGHWAY 242, NEW CANEY, TX 77357
Preparer
Cynthia a Cox
Phone
2813998153
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

Volunteers are an invaluable resource for the school. They help the academic program in several ways including supporting teachers by making copies for them, grading rocket math, and by assisting with feasts, plays and other class events. Other volunteers support academic events by judging the speech meet and acsi art competition, or by working as graders for math olympics. The fundraising events, like the spring banquet, provide many other opportunities for volunteers to assist the school. In the wake of hurricane harvey's devastation, volunteers provided many hours of work restoring the campus. As a result of this outpouring of support, we were able to reduce the financial cost of recovery. The four members of our board are all volunteers and provide oversight that guides our school.

Form 990, Page 2, Part III, Line 4A

Student leadership development currently includes the addition of student leadership classes and encouraging, training, mentoring, and supporting an active student council. Students also participate in both the national and junior honor societies. In 2017-18 covenant academy began offering a before and after school care (basc) program for enrolled students from pre-k through 6th grade. Students are given time to play, rest, snack, work on homework and prepare for a successful school day both before and after school. Students enrolled in basc are mentored by upper school students under the supervision of covenant faculty. In partnership with our families, the basc program is available on a monthly or as needed basis for their convenience.

Form 990, Part X

In the wake of hurricane harvey, the school suffered damage to the building and the loss of a significant amount of its school equipment and supplies. Due to many hours of volunteer labor, and donations of supplies and some equipment, the repair work was completed at a significantly lower cost than was originally anticipated. The generosity of many individuals and organizations meant that much of the school's equipment and supplies were replaced at no cost to the school.

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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0402455
IRS990ScheduleA/SchoolInd0X
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IRS990ScheduleD/EquipmentGrp/BookValueAmt083785
IRS990ScheduleD/EquipmentGrp/DepreciationAmt096964
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IRS990ScheduleD/LandGrp/BookValueAmt0514625
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt03944
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IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
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IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ALL SCHOOL BROCHURES AND THE INTERNET SITE CONTAIN THE NON- DISCRIMATION POLICY. THE ANNUAL NEWSPAPER AD FOR THE SCHOOL ALSO CONTAINS THE NON-DISCRIMATION POLICY.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
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IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt027691
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt09696
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IRS990ScheduleG/FundraisingEventInformationGrp/NonCashPrizesTotalEventsAmt0641
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt158521
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0FAST TUITION SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1PATRIOT SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt018
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt17
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0FAST TUITION SCHOLARSHIPS - AVAILABLE TOWARDS TUITION FOR ANY GRADE; SCHOLARSHIPS ARE BASED ON NEED. FAMILIES APPLY ONLINE TO FAST (A THIRD PARTY ORGANIZATION) WITH THE REQUIRED INFORMATION THAT WILL BE USED BY FAST TO DETERMINE THEIR ELIGIBILITY FOR TUITION ASSISTANCE; THIS DETERMINATION IS BASED ON PARAMETERS PROVIDED BY THE SCHOOL. FAST REVIEWS THE APPLICATIONS FOR SCHOLARSHIPS AND RECOMMENDS THE AMOUNT OF ELIGIBILITY, UP TO THE SCHOOL'S MAXIMUM OF 50% OF TUITION. IF FUNDS ARE AVAILABLE, THE SCHOOL'S BOARD THEN AWARDS ASSISTANCE TO EACH QUALIFYING FAMILY, BASED ON RECOMMENDATIONS BY FAST. IF INSUFFICIENT FUNDS ARE AVAILABLE, THE BOARD REDUCES THE ASSISTANCE TO EACH FAMILY IN ORDER TO ALLOW THE MAXIMUM NUMBER OF FAMILIES TO RECEIVE ASSISTANCE. PATRIOT SCHOLARSHIPS - THESE SCHOLARSHIPS ARE FOR TUITION FOR HIGH SCHOOL STUDENTS ONLY AND ARE BASED ON BOTH FINANCIAL NEED AND MERIT. THE PATRIOT APPLICATION IS SUBMITTED TO THE HEAD OF SCHOOL, ALONG WITH A FAST SCHOLARSHIP APPLICATION AND THE FAST RECOMMENDATION. THERE ARE DIFFERENT FACTORS TAKEN INTO CONSIDERATION, SUCH AS CHARACTER, GPA STANDING, DEMONSTRATED COMMITMENT TO COVENANTS MISSION, VOLUNTEER HOURS, ETC.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0MASTER KEY BUILDERS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt1IDEAL ROOFING
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0PART OWNER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1OWNER
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0CONSTRUCTION WORK
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1CONSTRUCTION WORK
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VOLUNTEERS ARE AN INVALUABLE RESOURCE FOR THE SCHOOL. THEY HELP THE ACADEMIC PROGRAM IN SEVERAL WAYS INCLUDING SUPPORTING TEACHERS BY MAKING COPIES FOR THEM, GRADING ROCKET MATH, AND BY ASSISTING WITH FEASTS, PLAYS AND OTHER CLASS EVENTS. OTHER VOLUNTEERS SUPPORT ACADEMIC EVENTS BY JUDGING THE SPEECH MEET AND ACSI ART COMPETITION, OR BY WORKING AS GRADERS FOR MATH OLYMPICS. THE FUNDRAISING EVENTS, LIKE THE SPRING BANQUET, PROVIDE MANY OTHER OPPORTUNITIES FOR VOLUNTEERS TO ASSIST THE SCHOOL. IN THE WAKE OF HURRICANE HARVEY'S DEVASTATION, VOLUNTEERS PROVIDED MANY HOURS OF WORK RESTORING THE CAMPUS. AS A RESULT OF THIS OUTPOURING OF SUPPORT, WE WERE ABLE TO REDUCE THE FINANCIAL COST OF RECOVERY. THE FOUR MEMBERS OF OUR BOARD ARE ALL VOLUNTEERS AND PROVIDE OVERSIGHT THAT GUIDES OUR SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1STUDENT LEADERSHIP DEVELOPMENT CURRENTLY INCLUDES THE ADDITION OF STUDENT LEADERSHIP CLASSES AND ENCOURAGING, TRAINING, MENTORING, AND SUPPORTING AN ACTIVE STUDENT COUNCIL. STUDENTS ALSO PARTICIPATE IN BOTH THE NATIONAL AND JUNIOR HONOR SOCIETIES. IN 2017-18 COVENANT ACADEMY BEGAN OFFERING A BEFORE AND AFTER SCHOOL CARE (BASC) PROGRAM FOR ENROLLED STUDENTS FROM PRE-K THROUGH 6TH GRADE. STUDENTS ARE GIVEN TIME TO PLAY, REST, SNACK, WORK ON HOMEWORK AND PREPARE FOR A SUCCESSFUL SCHOOL DAY BOTH BEFORE AND AFTER SCHOOL. STUDENTS ENROLLED IN BASC ARE MENTORED BY UPPER SCHOOL STUDENTS UNDER THE SUPERVISION OF COVENANT FACULTY. IN PARTNERSHIP WITH OUR FAMILIES, THE BASC PROGRAM IS AVAILABLE ON A MONTHLY OR AS NEEDED BASIS FOR THEIR CONVENIENCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 IS SENT TO THE BOARD TOGETHER WITH THE INTERNALLY PREPARED FINANCIALS FOR THEIR REVIEW. ONCE ALL QUESTIONS HAVE BEEN RESOLVED THE 990 IS E-FILED AND A FINAL COPY PROVIDED TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL BOARD MEMBERS ARE ASKED ANNUALLY TO DISCLOSE ANY FINANCIAL CONFLICT OF INTEREST. IF ANY CONFLICT OF INTEREST EXISTS AT ANY TIME, THE AFFECTED BOARD MEMBER(S) ARE ASKED TO RECUSE THEMSELVES FROM DISCUSSION AND VOTE WHEN THERE ARE ISSUES THAT ARE POTENTIAL CONFLICTS OF INTEREST. THIS POLICY IS STRICTLY ENFORCED AND POTENTIAL CONFLICTS AND THEIR RESOLUTION ARE NOTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5IN THE WAKE OF HURRICANE HARVEY, THE SCHOOL SUFFERED DAMAGE TO THE BUILDING AND THE LOSS OF A SIGNIFICANT AMOUNT OF ITS SCHOOL EQUIPMENT AND SUPPLIES. DUE TO MANY HOURS OF VOLUNTEER LABOR, AND DONATIONS OF SUPPLIES AND SOME EQUIPMENT, THE REPAIR WORK WAS COMPLETED AT A SIGNIFICANTLY LOWER COST THAN WAS ORIGINALLY ANTICIPATED. THE GENEROSITY OF MANY INDIVIDUALS AND ORGANIZATIONS MEANT THAT MUCH OF THE SCHOOL'S EQUIPMENT AND SUPPLIES WERE REPLACED AT NO COST TO THE SCHOOL.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART X
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