2024-05-15T08:16:38-05:00 2023-06-30 340677006 MALONEY NOVOTNY LLC 1111 SUPERIOR AVE SUITE 700 CLEVELAND OH 441142540 990 2022-07-01 346519833 LAKE RIDGE ACADEMY LAKE 4403271175 37501 CENTER RIDGE ROAD NORTH RIDGEVILLE OH 44039 MARK CHARVAT CFO 4403271175 2024-05-14 1 MARK CHARVAT 999009999 0 CHRISTOPHER B ANDERSON P00226559 2163630100 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z MARK CHARVAT 37501 CENTER RIDGE ROAD NORTH RIDGEVILLE OH 44039 13197220 0 X WWW.LAKERIDGEACADEMY.ORG X 1963 OH OUR MISSION IS TO SEND INTO A CHANGING WORLD CONFIDENT YOUNG PEOPLE OF INTEGRITY WHO THINK CRITICALLY AND CREATIVELY WHILE EMBRACING THE JOY OF LIFELONG LEARNING. 19 19 138 75 0 0 2482341 1634492 11803293 11226943 92467 30986 328262 176813 14706363 13069234 5461903 5012936 0 0 6327524 6417518 0 0 907950 2554528 2671429 14343955 14101883 362408 -1032649 13940629 12636571 10402408 9850686 3538221 2785885 OUR MISSION IS TO SEND INTO A CHANGING WORLD CONFIDENT YOUNG PEOPLE OF INTEGRITY WHO THINK CRITICALLY AND CREATIVELY WHILE EMBRACING THE JOY OF LIFELONG LEARNING. 0 0 12225240 5012936 11226943 THE ACADEMY, FOUNDED IN 1963, IS AN INDEPENDENT CO-EDUCATIONAL COLLEGE PREPARATORY SCHOOL FOR APPROXIMATELY 406 STUDENTS IN GRADES KINDERGARTEN THROUGH TWELVE. 12225240 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 62 0 1 138 1 0 0 0 0 0 0 0 0 0 0 0 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 OH X MARK CHARVAT 4403271175 37501 CENTER RIDGE ROAD NORTH RIDGEVILLE OH 44039 BRIAN SHIMKO CHAIR 1.00 X X 0 0 0 TOM DAKE VICE CHAIR 1.00 X X 0 0 0 ANDREA MANNING SECRETARY 1.00 X X 0 0 0 LAURIE GATTEN TREASURER 1.00 X X 0 0 0 JOHN DOOLOS BOARD MEMBER 1.00 X 0 0 0 THOMAS DRESING BOARD MEMBER 1.00 X 0 0 0 COLE FAUVER BOARD MEMBER 1.00 X 0 0 0 MEREDITH GADSBY BOARD MEMBER 1.00 X 0 0 0 KARI HALKO BOARD MEMBER 1.00 X 0 0 0 JONATHAN HYMAN BOARD MEMBER 1.00 X 0 0 0 PAULA JANMEY BOARD MEMBER 1.00 X 0 0 0 DON KAATZ BOARD MEMBER 1.00 X 0 0 0 JEFF KNAPP BOARD MEMBER 1.00 X 0 0 0 JENNIFER LAGASSE BOARD MEMBER 1.00 X 0 0 0 JOE MICLAT BOARD MEMBER 1.00 X 0 0 0 BENJAMIN P NORTON BOARD MEMBER 1.00 X 0 0 0 JARED OAKES BOARD MEMBER 1.00 X 0 0 0 JULIA SERTICH BOARD MEMBER 1.00 X 0 0 0 MONA THOMPSON BOARD MEMBER 1.00 X 0 0 0 MITCH WHITE HEAD OF SCHOOL 40.00 X 237850 0 22832 MARK CHARVAT CFO 40.00 X 18402 0 0 256252 0 22832 1 0 1 0 0 1094150 540342 55980 1634492 STUDENT TUITION 900099 11012701 11012701 TRANSPORTATION FEE 900099 141395 141395 EXTENDED DAY PROGRAM 900099 32429 32429 SUMMER SCHOOL PROGRAM 900099 23749 23749 ADMISSION TESTING FEES 900099 6690 6690 9979 9979 11226943 30986 30986 28493 0 28493 28493 28493 276306 127986 148320 148320 13069234 11226943 0 207799 5012936 5012936 275919 231772 44147 4877869 4179205 271494 427170 82636 67010 8069 7557 777044 630105 75878 71061 404050 327644 39455 36951 23651 23651 25800 25800 12760 12760 109569 27529 82040 93827 92730 1097 375562 338006 30045 7511 47248 43560 3688 332751 299476 26620 6655 657142 591428 52571 13143 84491 76042 6759 1690 INSTRUCTIONAL 625570 625570 FUNDRAISING 205240 205240 TRANSPORTATION 77818 77818 14101883 12225240 968693 907950 90713 170064 967024 718055 272693 227673 176295 220351 24379399 15339352 9384601 9040047 2399902 1410254 649401 850127 13940629 12636571 501244 610434 3514438 2903568 320000 320000 5969344 5987426 97382 29258 10402408 9850686 X -666170 -1242551 4204391 4028436 3538221 2785885 13940629 12636571 X -1032649 125896 154417 X 0 1 X 1 0 X 1357677 1153595 2387532 2482341 1634492 9015637 1357677 1153595 2387532 2482341 1634492 9015637 790868 8224769 102427 100206 114549 117697 59479 494358 323466 220982 371965 303032 148320 1367765 10877760 56605914 0.75610 0.57800 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2426973 -1044078 110567 83208 1410254 2765613 144500 -431211 51929 2426973 2030425 695250 409660 369722 2765613 1921920 146128 57606 95229 2030425 1761403 169627 78527 87637 1921920 0.00000 1.00000 0.00000 0 0 1455587 1455587 17434555 10934388 6500167 4236331 3610066 626265 1252926 794898 458028 9040047 BENEFICIAL INTEREST & CHARITABLE TRUST 656894 INTEREST RATE SWAP ASSET 193233 850127 CAPITAL LEASE OBLIGATIONS 29258 29258 8336611 125896 154417 280313 8056298 5012936 5012936 13069234 9088947 0 9088947 5012936 5012936 14101883 PART V, LINE 4: INTENDED USE OF ENDOWMENT FUNDS - THE ACADEMY'S ENDOWMENT FUNDS ARE USED FOR GENERAL OPERATIONS, SCHOLARSHIPS, FACULTY ENRICHMENT, AND THE COMMUNITY RESOURCE CENTER. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN INTEREST RATE SWAP 154,417. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID TO STUDENTS, WHICH WAS SHOWN AS A REDUCTION OF REVENUE ON THE FINANCIAL STATEMENTS BUT AS AN EXPENSE ON FORM 990 4,305,224. TUITION REMISSION, WHICH WAS SHOWN AS A REDUCTION OF REVENUE ON THE FINANCIAL STATEMENTS BUT AS AN EXPENSE ON FORM 990 707,712. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID TO STUDENTS, WHICH WAS SHOWN AS A REDUCTION OF REVENUE ON THE FINANCIAL STATEMENTS BUT AS AN EXPENSE ON FORM 990 4,305,224. TUITION REMISSION, WHICH WAS SHOWN AS A REDUCTION OF REVENUE ON THE FINANCIAL STATEMENTS BUT AS AN EXPENSE ON FORM 990 707,712. PART V, LINE 1B - ADDITIONAL INFORMATION ABOUT CONTRIBUTIONS: THE NEGATIVE AMOUNT SHOWN IN THE "CURRENT YEAR" COLUMN CONSISTS OF $85,500 OF CONTRIBUTIONS TO ENDOWMENT AND ($1,129,578) OF BORROWINGS FOR OPERATIONS. SUCH BORROWINGS WERE APPROVED BY THE BOARD OF DIRECTORS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE ACADEMY PUBLISHES NOTICES OF ITS NONDISCRIMINATION POLICIES IN ALL DAILY AND WEEKLY SUBURBAN NEWSPAPERS. SCHEDULE E, PART I, LINE 6 AID FROM A GOVERNMENTAL AGENCY - THE ACADEMY RECEIVED FUNDS AND REIMBURSEMENTS FROM THE STATE OF OHIO. THESE FUNDS WERE EXPENDED FOR SUPPLIES, SERVICES, EQUIPMENT AND CAPITAL ITEMS. AUCTION-GALA 241472 241472 7000 6665 53192 3329 7250 25311 GOLF OUTING 28002 28002 12191 1815 1 6832 6832 3107 3472 4654 276306 276306 7000 6665 68490 6801 7250 31780 127986 148320 1 STUDENT FINANCIAL AID 293 4305224 0 STUDENT TUITION REMISSION 32 707712 0 PART I, LINE 2: MONITORING USE OF GRANT FUNDS - THE ACADEMY ENSURES THAT ITS GRANTS ARE USED FOR EDUCATIONAL PURPOSES BY CREDITING THE FINANCIAL AID AMOUNTS DIRECTLY TO THE STUDENTS' ACCOUNTS INSTEAD OF ISSUING CHECKS. 0 0 0 0 0 0 0 0 0 MITCH WHITE HEAD OF SCHOOL 237850 0 0 0 0 0 4950 0 17882 0 260682 0 0 0 DON KAATZ BOARD MEMBER PURCHASE OF PROPERTY X 320000 320000 0 1 1 320000 SHELBY WHITE FAMILY RELATIONSHIP WITH OFFICER 54843 COMPENSATION 0 X 7 55980 FAIR VALUE 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B REVIEW OF FORM 990 - THE BOARD OF DIRECTORS DELEGATED THE AUTHORITY TO REVIEW AND APPROVE FORM 990 TO THE FINANCE COMMITTEE. THE FINANCE COMMITTEE REVIEWED THE TAX RETURN AT A MEETING PRIOR TO THE FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 PROVIDED TO GOVERNING BODY - BECAUSE OF THE CONFIDENTIAL NATURE OF DONOR INFORMATION, THE ACADEMY HAS CHOSEN NOT TO SHARE THE NAMES AND ADDRESSES OF DONORS LISTED ON SCHEDULE B WITH THE FINANCE COMMITTEE AND BOARD. THEREFORE, THE ACADEMY PROVIDED A COPY OF FORM 990 TO THE FINANCE COMMITTEE AND BOARD BUT REDACTED DONOR INFORMATION FROM SCHEDULE B. AS SUCH, WE ARE REQUIRED TO ANSWER "NO" TO THE QUESTION ON LINE 11A OF PART VI EVEN THOUGH THE BOARD WAS GIVEN FORM 990 BEFORE IT WAS FILED. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCEMENT OF CONFLICT POLICY - THE COMMITTEE ON DIRECTORS REVIEWS COMPLIANCE WITH THE ACADEMY'S CONFLICT POLICY. WHEN A CONFLICT ARISES, THE EFFECTED PERSON IS NOT PERMITTED TO PARTICIPATE IN THE DISCUSSION OF THE TRANSACTION OR TO VOTE ON THE MATTER. THE DECISION TO ACCEPT OR REJECT THE PROPOSED TRANSACTION IS MADE BY PERSONS WHO ARE INDEPENDENT OF THE INDIVIDUAL WITH THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION DETERMINATION - AN ANNUAL SALARY COMPARISON IS DONE FOR FACULTY AND STAFF BASED ON INFORMATION ACQUIRED FROM NAIS AND OAIS SURVEY DATA. THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE DATA AND APPROVES ANY SALARY INCREASES. THE PERSONS MAKING DECISIONS ABOUT COMPENSATION ARE INDEPENDENT OF THE EMPLOYEES FOR WHOM THE COMPENSATION IS BEING DETERMINED. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS - THE ACADEMY MAKES ITS FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND GOVERNING DOCUMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP 154,417.