Liabilities / Assets
21st percentile
Higher debt load relative to assets than 21% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.02x
Liabilities / Revenue
57th percentile
Higher debt load relative to revenue than 57% of similar nonprofits.
Net Margin
2nd percentile
Higher net margin than 2% of similar nonprofits.
Top Officer Pay
61st percentile
Higher top officer pay than 61% of similar nonprofits.
Top officer pay equals 27.1% of source-year revenue.
Asset Growth
8th percentile
Faster asset growth than 8% of similar nonprofits.
Revenue Growth
3rd percentile
Faster revenue growth than 3% of similar nonprofits.
Balance Sheet
Assets
Down$10,399,338
Down $877,737 (-7.8%) from 2020
Net Assets
Down$10,178,634
Down $984,414 (-8.8%) from 2020
Liabilities
Up$220,704
Up $106,677 (+94%) from 2020
Revenue And Expenses
Revenue
Down$756,527
Down $1,177,353 (-61%) from 2020
Expenses
Up$1,738,548
Up $323,583 (+23%) from 2020
Net Income
Down-$982,021
Down $1,500,936 (-289%) from 2020
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2020 to Jun 30, 2021
- Signed
- Dec 30, 2021
- Return Version
- 2020v4.0
- Gross Receipts
- $3,124,226
Mission and Program Overview
Mission
Tsbs is an educational institution for the banking industry providing classroom training to banking industry personnel in a wide variety of financial related matters.
Tsbs is an educational insitution for the banking industry providing classroom training to banking industry personnel in a wide variety of financial related matters.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments in Publicly Traded Securities | $10,443,738 | $8,273,285 | ▼ $2,170,453 |
| Land, Buildings, and Equipment, Net | $746,389 | $1,530,722 | ▲ $784,333 |
| Investments Other Securities | - | $533,141 | - |
| Cash and Non-Interest-Bearing Accounts | $82,708 | $60,210 | ▼ $22,498 |
| Prepaid Expenses and Deferred Charges | $2,259 | $0 | ▼ $2,259 |
| Savings and Temporary Cash Investments | - | $0 | - |
| Accounts Receivable | - | $0 | - |
| Other Notes and Loans Receivable, Net | - | $0 | - |
| Pledges and Grants Receivable | - | $0 | - |
| Receivable From Disqualified Prsn | - | $0 | - |
| Receivables From Officers Etc | - | $0 | - |
| Investments Program Related | - | $0 | - |
| Intangible Assets | - | $0 | - |
| Inventories for Sale or Use | - | $0 | - |
| Total Assets | $11,277,075 | $10,399,338 | ▼ $877,737 |
| Other Assets Total | $1,981 | $1,980 | ▼ $1 |
| Liabilities | |||
| Other Liabilities | $100,005 | $126,759 | ▲ $26,754 |
| Deferred Revenue | $12,585 | $93,945 | ▲ $81,360 |
| Accounts Payable and Accrued Expenses | $1,437 | - | - |
| Total Liabilities | $114,027 | $220,704 | ▲ $106,677 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $11,163,048 | $10,178,634 | ▼ $984,414 |
| Total Net Assets Fund Balance | $11,163,048 | $10,178,634 | ▼ $984,414 |
| Total Liabilities and Net Assets / Fund Balance | $11,277,075 | $10,399,338 | ▼ $877,737 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Land | $945,000 | - | $945,000 |
| Buildings | $574,648 | $157,422 | $732,070 |
| Other Land Buildings | $11,074 | $101,594 | $112,668 |
| Equipment | - | $10,372 | $10,372 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| John Naughton | Executive Director | FT | $178,500 | $26,456 | $204,956 |
Board Members and Trustees
| Name | Title |
|---|---|
| Colin Barrett | Chairman |
| Robert T Bob Taylor | Chairman |
| Scott E Latham | Chairman |
| Joseph D Hudgins | President |
| Mark G Holladay | President |
| Michael Allen | President |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Renaissance Baton Rouge | Reception and Housing | 7000 Bluebonnet Blvd, Baton Rouge, LA 70810 | $152,043 |
| Don Woodland | Consulting | 7770 Willow Grove, Baton Rouge, LA 70810 | $122,109 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $348,505
- Investment Income
- $404,722
- Other Revenue
- $3,300
- Change in Net Assets
- $-982,021
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $706,019
- Revenue Not Reported on Financial Statements
- $50,508
- Revenue Not Reported on Form 990
- $1,960,888
- Total Revenue per Audited Statements
- $2,666,907
- Total Revenue per Form 990
- $756,527
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $875,269 |
| Salaries, Compensation, and Employee Benefits | $863,279 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | - | $449,821 | - | $449,821 |
| Current Officers, Directors, Trustees, and Key Employees | $274,256 | - | - | $274,256 |
| Office Expenses | - | $63,601 | - | $63,601 |
| Other Employee Benefits | - | $60,373 | - | $60,373 |
| Fees for Services Other | - | $60,263 | - | $60,263 |
| Travel | $56,611 | - | - | $56,611 |
| Fees for Service Investment Mgmnt Fees | - | $50,508 | - | $50,508 |
| Payroll Taxes | - | $48,359 | - | $48,359 |
| Other Expenses | $46,097 | - | - | $46,097 |
| Pension Plan Contributions | - | $30,470 | - | $30,470 |
| Insurance | - | $26,753 | - | $26,753 |
| Information Technology | $25,859 | - | - | $25,859 |
| Fees for Services Accounting | - | $21,265 | - | $21,265 |
| Depreciation Depletion | - | $20,295 | - | $20,295 |
| Advertising | $13,882 | - | - | $13,882 |
| All Other Expenses | $9,801 | $708 | - | $10,509 |
| Fees for Services Legal | - | $8,507 | - | $8,507 |
| Occupancy | - | $7,745 | - | $7,745 |
| Total Functional Expenses | $889,880 | $848,668 | $0 | $1,738,548 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Total Expenses per Form 990 | $1,738,548 |
| Expenses per Audited Statements | $1,615,565 |
| Total Expenses per Audited Statements | $1,615,565 |
| Expenses Not Reported on Financial Statements | $122,983 |
| Other Expense Adjustments | $72,475 |
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
Insider Transactions and Loans
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Receivables from Disqualified Persons | - | $0 | - |
| Receivables from Officers, Directors, Trustees, and Key Employees | - | $0 | - |
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Paycheck Protection Program Loan | $126,759 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- No
- 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
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Line 11B: Form 990 Review Process
“A certified public accounting firm is retained to prepare the annual irs form 990. The cpa firm provides a copy of the completed form to the executive committee of the board of directors for their review and approval. A copy of the irs 990 tax return was provided to the executive director for his review, approval and signature.”
Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
“As clearly indicated in the executive board and full board meeting minutes, all financial reporting is provided to all parties. The irs form 990 will also be made available upon request to the executive director. Any public request to view these documents along with the irs form 1023 and the tax exempt determination letter from the irs will also be made available upon request.”
Part VI Line 15B
“The executive committee performs the following actions 1. Board members, not having a conflict of interest, approve the executive directors, annual salary, 2. The board conducts an internal survey of the compensation paid to other executive directors, more than 3, of similiar banking training organizations around the united states, 3. The executive committee adequately and concurrently documents that the executive director compensation package is within the range of such comparable data. 4. The compensation package is approved in advance of the compensation earned. 5. The executive committee has adopted the provisions of treasury regulation section 53 .4958-6 c 1 iii. The conflict of interest policy precludes any executive committee members who have a financial interest in the compensation transaction, whether directly or indirectly through a family or business relation with a party to the transaction, from voting on the approval of the transaction. 6. The executive committee members not having a conflict of interest will review the salaries of at least 3 different persons with positions similar to the exec. Directors, at comparable schools to ensure that the executive directors aggregate compensation package is not more than the executive directors peers. 7. The documentation includes the following a. The terms of the compensation package and the date it was approved, b. The members of the executive committee who were present during the debate on the compensation package and those who voted on its approval, c. The comparable data relied upon by the executive committee and the means by which the executive committee obtained the data and the recusal of any members of the executive committee who may have had a conflict of interest. D. The exec. Committee must prepare this documentation before the later of 60 days after the vote or the next meeting of the executive committee.”
Part VI, Line 12C
“Board of directors meet bi-annually to address policy issues, cirriculum changes, teacher evaluations and new hires, investment policy review and policy decisions, advertising efforts, etc. During these meetings any issues impacting conflict of interest, prohibitive transactions will be addressed by the full board of directors and acted upon .”
Part VI, Line 6
“Tsbs, inc. Is comprised of the participating state banker associations that participate in the organization.”
Part VI, Line 7A
“The board of trustees elect the officers for the upcoming year at the annual fall meeting. The nominating committee places individuals in nomination for approval by the entire board of trustees. The board of trustees consists of representatives from the participating bankers associations. The board of trustees also elect those individuals who will serve on the executive committee.”
Part VII, Section A
“TAX SOFTWARE HAS LIMITATIONS ON TITLE/POSITION FOR OFFICER'S. WE ARE USING SCHEDULE O TO PROVIDE THE ACTUAL TITLES TO THESE OFFICERS. PRESIDENT-ELECT - Mr. J. Michael Mike Allen, IMMEDIATE PAST PRESIDENT-Mr. Mark G. Holladay, PRESIDENT-Mr. Joseph D. Jody Hudgins, CHAIRMAN-Mr. Scott E. Latham, CHAIRMAN ELECT-Mr. Colin Barrett, IMMEDIATE PAST CHAIRMAN-Mr. Robert T. Bob Taylor. THIS GROUP OF OFFICERS REPRESENT THE EXECUTIVE BOARD.”
Filing and Contact Details
Filer
- Filer Name
- Tsbs Inc
- EIN
- 72-0019332
- Phone
- 2257668595
- Address
- 4273 HIGHLAND ROAD, BATON ROUGE, LA 70808
Signing Officer
- Name
- John Naughton
- Title
- Executive Director
- Signed
- 2021-12-30
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- John Naughton
- Formed
- 1981
- Legal Domicile
- La
- Voting Board Members
- 7
- Independent Board Members
- 6
- Employees
- 7
- Volunteers
- 6
Preparer
- Firm
- Ted Soileau CPA LLC
- Address
- 2133 SILVERSIDE DR STE C, BATON ROUGE, LA 70808
- Preparer
- Ted A Soileau
- Phone
- 2257767910
Supplemental Narrative
Additional Explanations
Other Changes In Net Assets Or Fund Balances - Other Increases
“Ppp1 forgiveness = $100005”
Other Changes In Net Assets Or Fund Balances - Other Decreases
“Transfer of funds to the woodland foundation = -$2135761”
Form 990, Part XI, Line 9
“Trasfer of funds were made to the woodland foundation, a tax exempt, 501(c)(3) entity, fid 83-4057982.”
Financial Statement Notes
Part X : FIN48 Footnote
“ACCOUNTING FOR THE UNCERTAINTY OF TAX POSITIONS CAN IMPACT THE FINANCIAL STATEMENTS. EVEN THOUGH THE SCHOOL IS EXEMPT FROM INCOME TAXES, THE SCHOOL MUST STILL CONSIDER WHETHER ITS EXEMPT INCOME AND OTHER ACTIVITIES OF THE SCHOOL MIGHT BE DETERMINED TO BE UNRELATED BUSINESS INCOME, AND WHETHER THE SCHOOL HAS PROPERLY MAINTAINED ITS TAX EXEMPT STATUS. FASB ASC 740 FINANCIAL INTERPRETATION NO. 48 I.E. FIN 48, PUBLISHED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD, ADDRESSES THE ISSUE OF ACCOUNTING FOR THE UNCERTAINTY OF MATERIAL TAX POSITIONS IMPACTING THE FINANCIAL STATEMENTS. THE OFFICERS HAVE ADOPTED THE PROVISIONS OF FASB ASC 740 EFFECTIVE JUNE 30, 2019. THE ACCOUNTING FOR ALL MATERIAL POSITIONS TAKEN, OR EXPECTED TO BE TAKEN, ON ANY INCOME TAX RETURN IS GOVERNED BY FASB ASC 740. INCOME TAX RETURNS INCLUDE THOSE POSITIONS THAT WERE FILED OR THAT SHOULD HAVE BEEN FILED WITH FEDERAL TAXING AUTHORITIES. IT IS THE OFFICERS POLICY TO ASSESS ALL MATERIAL POSITIONS TAKEN ON ANY FEDERAL INCOME TAX RETURN. THE OFFICERS WILL REQUIRE ITS LEGAL AND TAX COUNSEL TO COMMUNICATE TO THEM ALL SUCH UNCERTAIN TAX POSITIONS IN ORDER TO EVALUATE THE IMPACT OF THE TAX POSITION AND THE REPORTING AND DISCLOSURE REQUIRED. THE REQUIREMENT WILL APPLY TO NOT ONLY THE CURRENT REPORTING YEAR BUT ALSO TO ALL PRIOR OPEN REPORTING YEARS THAT COULD STILL BE SUBJECT TO EXAMINATION BY A TAXING AUTHORITY. THE OFFICERS HAS DETERMINED THAT ANY MATERIAL UNCERTAIN TAX POSITIONS THAT ARE PRESENTED TO THE BOARD OF TRUSTEES WILL BE RECOGNIZED AND MEASURED USING A MORE-LIKELY-THAN-NOT, MLTN THRESHOLD. THE MLTN THRESHOLD MEANS THAT l. A BENEFIT RELATED TO AN UNCERTAIN TAX POSITION MAY NOT BE RECOGNIZED IN THE FINANCIAL STATEMENTS UNLESS IT IS MLTN THAT THE POSITION WILL BE SUSTAINED BASED ON ITS TECHNICAL MERITS, AND 2. THERE MUST BE MORE THAN A 50 LIKELIHOOD THAT THE POSITION WOULD BE SUSTAINED IF CHALLENGED AND CONSIDERED BY THE HIGHEST COURT IN THE RELEVANT JURISDICTION. MEASUREMENT OF ANY UNCERTAIN TAX POSITION WILL REQUIRE CALCULATING THE CUMULATIVE PROBABILITY OF AN OUTCOME EITHER FOR OR AGAINST THE TAX POSITION. THE TAX BENEFIT OF A QUALIFYING POSITION IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50 PERCENT LIKELY TO BE REALIZED UPON ULTIMATE SETTLEMENT WITH A TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. INITIAL RECOGNITION OF AN UNCERTAIN TAX POSITION WILL REQUIRE CONTINUED REASSESSMENT OF THE TAX POSITION ON AN ANNUAL BASIS. AS OF EACH YEAR-END, ANY UNRESOLVED UNCERTAIN TAX POSITIONS MUST BE REASSESSED, AND THE OFFICERS MUST DETERMINE WHETHER l. THE FACTORS UNDERLYING THE SUSTAINABILITY ASSERTIONS HAVE CHANGED AND, 2. THE AMOUNT OF THE RECOGNIZED TAX BENEFIT IS STILL APPROPRIATE. DEVELOPMENTS SUCH AS CASE LAW, CHANGES IN TAX LAW, NEW RULINGS OR REGULATIONS ISSUED BY TAXING AUTHORITIES, COULD AFFECT WHETHER A TAX POSITION SHOULD BE RECOGNIZED OR THE AMOUNT THAT SHOULD BE REPORTED. THE SCHOOL WILL BE REQUIRED TO ACCRUE INTEREST AND PENALTIES THAT, UNDER PRESENT TAX LAW, THE SCHOOL WOULD INCUR IF THE UNCERTAIN TAX POSITION ULTIMATELY WERE NOT SUSTAINED. FOR THE YEAR ENDING JUNE 30, 2021, NO UNCERTAIN TAX POSITIONS WERE DETERMINED TO EXIST.”
Part XII, Line 4B: Other revenue amounts included on 990 but not included in F/S
“Other investment cost $72475”
Raw XML AppendixShowing 400 of 528 raw XML fields
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/ActivityOrMissionDesc | 0 | TSBS IS AN EDUCATIONAL INSITUTION FOR THE BANKING INDUSTRY PROVIDING CLASSROOM TRAINING TO BANKING INDUSTRY PERSONNEL IN A WIDE VARIETY OF FINANCIAL RELATED MATTERS. |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | Joseph D Hudgins |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | Scott E Latham |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | Colin Barrett |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | President |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | Chairman |
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| IRS990/MissionDesc | 0 | TSBS IS AN EDUCATIONAL INSITUTION FOR THE BANKING INDUSTRY PROVIDING CLASSROOM TRAINING TO BANKING INDUSTRY PERSONNEL IN A WIDE VARIETY OF FINANCIAL RELATED MATTERS. |
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| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | ACCOUNTING FOR THE UNCERTAINTY OF TAX POSITIONS CAN IMPACT THE FINANCIAL STATEMENTS. EVEN THOUGH THE SCHOOL IS EXEMPT FROM INCOME TAXES, THE SCHOOL MUST STILL CONSIDER WHETHER ITS EXEMPT INCOME AND OTHER ACTIVITIES OF THE SCHOOL MIGHT BE DETERMINED TO BE UNRELATED BUSINESS INCOME, AND WHETHER THE SCHOOL HAS PROPERLY MAINTAINED ITS TAX EXEMPT STATUS. FASB ASC 740 FINANCIAL INTERPRETATION NO. 48 I.E. FIN 48, PUBLISHED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD, ADDRESSES THE ISSUE OF ACCOUNTING FOR THE UNCERTAINTY OF MATERIAL TAX POSITIONS IMPACTING THE FINANCIAL STATEMENTS. THE OFFICERS HAVE ADOPTED THE PROVISIONS OF FASB ASC 740 EFFECTIVE JUNE 30, 2019. THE ACCOUNTING FOR ALL MATERIAL POSITIONS TAKEN, OR EXPECTED TO BE TAKEN, ON ANY INCOME TAX RETURN IS GOVERNED BY FASB ASC 740. INCOME TAX RETURNS INCLUDE THOSE POSITIONS THAT WERE FILED OR THAT SHOULD HAVE BEEN FILED WITH FEDERAL TAXING AUTHORITIES. IT IS THE OFFICERS POLICY TO ASSESS ALL MATERIAL POSITIONS TAKEN ON ANY FEDERAL INCOME TAX RETURN. THE OFFICERS WILL REQUIRE ITS LEGAL AND TAX COUNSEL TO COMMUNICATE TO THEM ALL SUCH UNCERTAIN TAX POSITIONS IN ORDER TO EVALUATE THE IMPACT OF THE TAX POSITION AND THE REPORTING AND DISCLOSURE REQUIRED. THE REQUIREMENT WILL APPLY TO NOT ONLY THE CURRENT REPORTING YEAR BUT ALSO TO ALL PRIOR OPEN REPORTING YEARS THAT COULD STILL BE SUBJECT TO EXAMINATION BY A TAXING AUTHORITY. THE OFFICERS HAS DETERMINED THAT ANY MATERIAL UNCERTAIN TAX POSITIONS THAT ARE PRESENTED TO THE BOARD OF TRUSTEES WILL BE RECOGNIZED AND MEASURED USING A MORE-LIKELY-THAN-NOT, MLTN THRESHOLD. THE MLTN THRESHOLD MEANS THAT l. A BENEFIT RELATED TO AN UNCERTAIN TAX POSITION MAY NOT BE RECOGNIZED IN THE FINANCIAL STATEMENTS UNLESS IT IS MLTN THAT THE POSITION WILL BE SUSTAINED BASED ON ITS TECHNICAL MERITS, AND 2. THERE MUST BE MORE THAN A 50 LIKELIHOOD THAT THE POSITION WOULD BE SUSTAINED IF CHALLENGED AND CONSIDERED BY THE HIGHEST COURT IN THE RELEVANT JURISDICTION. MEASUREMENT OF ANY UNCERTAIN TAX POSITION WILL REQUIRE CALCULATING THE CUMULATIVE PROBABILITY OF AN OUTCOME EITHER FOR OR AGAINST THE TAX POSITION. THE TAX BENEFIT OF A QUALIFYING POSITION IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50 PERCENT LIKELY TO BE REALIZED UPON ULTIMATE SETTLEMENT WITH A TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. INITIAL RECOGNITION OF AN UNCERTAIN TAX POSITION WILL REQUIRE CONTINUED REASSESSMENT OF THE TAX POSITION ON AN ANNUAL BASIS. AS OF EACH YEAR-END, ANY UNRESOLVED UNCERTAIN TAX POSITIONS MUST BE REASSESSED, AND THE OFFICERS MUST DETERMINE WHETHER l. THE FACTORS UNDERLYING THE SUSTAINABILITY ASSERTIONS HAVE CHANGED AND, 2. THE AMOUNT OF THE RECOGNIZED TAX BENEFIT IS STILL APPROPRIATE. DEVELOPMENTS SUCH AS CASE LAW, CHANGES IN TAX LAW, NEW RULINGS OR REGULATIONS ISSUED BY TAXING AUTHORITIES, COULD AFFECT WHETHER A TAX POSITION SHOULD BE RECOGNIZED OR THE AMOUNT THAT SHOULD BE REPORTED. THE SCHOOL WILL BE REQUIRED TO ACCRUE INTEREST AND PENALTIES THAT, UNDER PRESENT TAX LAW, THE SCHOOL WOULD INCUR IF THE UNCERTAIN TAX POSITION ULTIMATELY WERE NOT SUSTAINED. FOR THE YEAR ENDING JUNE 30, 2021, NO UNCERTAIN TAX POSITIONS WERE DETERMINED TO EXIST. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | OTHER INVESTMENT COST $72475 |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Part X : FIN48 Footnote |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S |
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| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 0 | ORGANIZATION DOES NOT ADVERTISE BY MEDIA OR NEWSPAPER BUT RATHER RELIES ON ITS ONGOING RELATIONSHIP WITH THE FINANCIAL INSTITUTIONS IT SERVES. THE ORGANIZATION'S WEBSITE IS THE MAIN MEDIA SOURCE FOR INFORMING THE PUBLIC OF THE ORGANIZATION'S COURSES AND INSTRUCTORS AND IT IS WITHIN THIS WEBSITE THAT THE ORGANIZATION'S NONDISCRIMINATORY POLICY IS DISCLOSED. |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 1 | NO TRACKING OF RACE OF ANY STUDENT/FACULTY/STAFF IS PERFORMED. RACIALLY, NON-DISCRIMINATORY POLICIES ARE IN PLACE. NO FUNDRAISING ACTIVITIES ARE USED. |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Schedule E, Line 4 - Explanation of Records and Materials Not Maintained |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Schedule E, Line 5 - Explanation of Organization Discrimination by Race |
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| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 0 | EXECUTIVE DIRECTOR |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | A CERTIFIED PUBLIC ACCOUNTING FIRM IS RETAINED TO PREPARE THE ANNUAL IRS FORM 990. THE CPA FIRM PROVIDES A COPY OF THE COMPLETED FORM TO THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL. A COPY OF THE IRS 990 TAX RETURN WAS PROVIDED TO THE EXECUTIVE DIRECTOR FOR HIS REVIEW, APPROVAL AND SIGNATURE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | AS CLEARLY INDICATED IN THE EXECUTIVE BOARD AND FULL BOARD MEETING MINUTES, ALL FINANCIAL REPORTING IS PROVIDED TO ALL PARTIES. THE IRS FORM 990 WILL ALSO BE MADE AVAILABLE UPON REQUEST TO THE EXECUTIVE DIRECTOR. ANY PUBLIC REQUEST TO VIEW THESE DOCUMENTS ALONG WITH THE IRS FORM 1023 AND THE TAX EXEMPT DETERMINATION LETTER FROM THE IRS WILL ALSO BE MADE AVAILABLE UPON REQUEST. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | PPP1 FORGIVENESS = $100005 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | TRANSFER OF FUNDS TO THE WOODLAND FOUNDATION = -$2135761 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | TRASFER OF FUNDS WERE MADE TO THE WOODLAND FOUNDATION, A TAX EXEMPT, 501(C)(3) ENTITY, FID 83-4057982. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | THE EXECUTIVE COMMITTEE PERFORMS THE FOLLOWING ACTIONS 1. BOARD MEMBERS, NOT HAVING A CONFLICT OF INTEREST, APPROVE THE EXECUTIVE DIRECTORS, ANNUAL SALARY, 2. THE BOARD CONDUCTS AN INTERNAL SURVEY OF THE COMPENSATION PAID TO OTHER EXECUTIVE DIRECTORS, MORE THAN 3, OF SIMILIAR BANKING TRAINING ORGANIZATIONS AROUND THE UNITED STATES, 3. THE EXECUTIVE COMMITTEE ADEQUATELY AND CONCURRENTLY DOCUMENTS THAT THE EXECUTIVE DIRECTOR COMPENSATION PACKAGE IS WITHIN THE RANGE OF SUCH COMPARABLE DATA. 4. THE COMPENSATION PACKAGE IS APPROVED IN ADVANCE OF THE COMPENSATION EARNED. 5. THE EXECUTIVE COMMITTEE HAS ADOPTED THE PROVISIONS OF TREASURY REGULATION SECTION 53 .4958-6 C 1 III. THE CONFLICT OF INTEREST POLICY PRECLUDES ANY EXECUTIVE COMMITTEE MEMBERS WHO HAVE A FINANCIAL INTEREST IN THE COMPENSATION TRANSACTION, WHETHER DIRECTLY OR INDIRECTLY THROUGH A FAMILY OR BUSINESS RELATION WITH A PARTY TO THE TRANSACTION, FROM VOTING ON THE APPROVAL OF THE TRANSACTION. 6. THE EXECUTIVE COMMITTEE MEMBERS NOT HAVING A CONFLICT OF INTEREST WILL REVIEW THE SALARIES OF AT LEAST 3 DIFFERENT PERSONS WITH POSITIONS SIMILAR TO THE EXEC. DIRECTORS, AT COMPARABLE SCHOOLS TO ENSURE THAT THE EXECUTIVE DIRECTORS AGGREGATE COMPENSATION PACKAGE IS NOT MORE THAN THE EXECUTIVE DIRECTORS PEERS. 7. THE DOCUMENTATION INCLUDES THE FOLLOWING A. THE TERMS OF THE COMPENSATION PACKAGE AND THE DATE IT WAS APPROVED, B. THE MEMBERS OF THE EXECUTIVE COMMITTEE WHO WERE PRESENT DURING THE DEBATE ON THE COMPENSATION PACKAGE AND THOSE WHO VOTED ON ITS APPROVAL, C. THE COMPARABLE DATA RELIED UPON BY THE EXECUTIVE COMMITTEE AND THE MEANS BY WHICH THE EXECUTIVE COMMITTEE OBTAINED THE DATA AND THE RECUSAL OF ANY MEMBERS OF THE EXECUTIVE COMMITTEE WHO MAY HAVE HAD A CONFLICT OF INTEREST. D. THE EXEC. COMMITTEE MUST PREPARE THIS DOCUMENTATION BEFORE THE LATER OF 60 DAYS AFTER THE VOTE OR THE NEXT MEETING OF THE EXECUTIVE COMMITTEE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | BOARD OF DIRECTORS MEET BI-ANNUALLY TO ADDRESS POLICY ISSUES, CIRRICULUM CHANGES, TEACHER EVALUATIONS AND NEW HIRES, INVESTMENT POLICY REVIEW AND POLICY DECISIONS, ADVERTISING EFFORTS, ETC. DURING THESE MEETINGS ANY ISSUES IMPACTING CONFLICT OF INTEREST, PROHIBITIVE TRANSACTIONS WILL BE ADDRESSED BY THE FULL BOARD OF DIRECTORS AND ACTED UPON . |
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Filings
Displayed year
2021 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
- Assets
- $10,399,338
- Liabilities
- $220,704
- Net assets
- $10,178,634
- Revenue
- $756,527
- Expenses
- $1,738,548
- Net income
- -$982,021