2023-01-25T11:24:32-06:00 2022-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 222 CENTRAL PARK AVE STE 1400 VIRGINIA BEACH VA 23462 990 2021-07-01 540801408 NANSEMOND SUFFOLK ACADEMY ASSOCIATION INC NANS 7575398789 3373 PRUDEN BLVD SUFFOLK VA 23434 DEBORAH RUSSELL HEAD OF SCHOOL 7575398789 2023-01-24 1 DEBORAH RUSSELL 999009999 AMANDA ADAMS P00748038 7574562400 3 AAL1 IAL1 2021 2023-03-07 01:45:13Z DEBORAH RUSSELL 3373 PRUDEN BLVD SUFFOLK VA 23434 17783130 0 X WWW.NSACADEMY.ORG X 1966 VA AT NANSEMOND-SUFFOLK ACADEMY, STUDENTS ARE ENGAGED IN PERSONAL GROWTH, INSPIRED TO DISCOVER THEIR PASSION AND EMPOWERED TO MAKE A DIFFERENCE IN THE WORLD. 21 20 288 400 0 0 2908738 1856614 13700700 15465133 260894 220811 81140 122264 16951472 17664822 3089480 3036956 0 0 8374219 9420093 0 0 369823 3788705 4503489 15252404 16960538 1699068 704284 20125407 19895333 7459198 7317387 12666209 12577946 X NANSEMOND-SUFFOLK ACADEMY BELIEVES THE GOAL OF EDUCATION IS TO CULTIVATE HONORABLE, WELL-INFORMED, RESPONSIBLE, AND COMPASSIONATE PERSONS WHO THINK AND ACT CONSTRUCTIVELY IN A COMPLEX INTERNATIONAL ENVIRONMENT. THE ACADEMY PROVIDES AN EDUCATIONAL ENVIRONMENT THAT IS ACADEMICALLY RIGOROUS AND DRIVEN BY INTELLECTUAL CURIOSITY; THAT CULTIVATES AMONG ITS MEMBERS SOCIAL AWARENESS AND THE VIRTUES OF HONOR, RESPONSIBILITY, RESPECT AND COMPASSIONS; THAT FOSTERS A LIFELONG COMMITMENT TO LEARNING AND SERVICE AND THAT INSTILLS A SENSE OF PRIDE IN INDIVIDUAL AND GROUP ACCOMPLISHMENT. THE ULTIMATE GOAL IS FOR EACH STUDENT TO REACH HIS OR HER POTENTIAL: ACADEMICALLY, PHYSICALLY, EMOTIONALLY, SOCIALLY, MORALLY, AND CREATIVELY. 0 0 12774056 3036956 14745640 INSTRUCTIONAL: FUNDS WERE USED TO PROVIDE COMPREHENSIVE EDUCATIONAL PROGRAMS TO APPROXIMATELY 926 STUDENTS IN GRADES PRE-KINDERGARTEN TO 12. 503835 440352 OTHER PROGRAMS: FUNDS WERE USED TO PROVIDE SPECIAL PROGRAMS SUCH AS EXTENDED DAY CARE, SUMMER PROGRAMS, AND EDUCATIONAL RESOURCES TO STUDENTS IN GRADES PRE-KINDERGARTEN TO 12. 1026526 279141 AUXILIARY SERVICES: FUNDS WERE USED TO PROVIDE FOOD, CAMPUS STORE, AND TRANSPORTATION TO STUDENTS IN GRADES PRE-KINDERGARTEN TO 12. 14304417 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 30 0 1 288 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 21 20 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X ANGELA THOMPSON 7575398789 3373 PRUDEN BLVD SUFFOLK VA 23434 LANGLEY HARRELL III CHAIRMAN 5.00 X X 0 0 0 ASHTON LEWIS JR VICE CHAIRMAN 5.00 X X 0 0 0 ANDREW L BOLLING TREASURER AND FINANCE COMMITTEE CHAIR 5.00 X X 0 0 0 NICOLE J HARRELL GOVERNANCE COMMITTEE CHAIR 5.00 X X 0 0 0 DAVID C TOWNSEND BUILDINGS & GROUNDS COMMITTEE CHAIR 5.00 X X 0 0 0 JAMES M COX ADVANCEMENT COMMITTEE CHAIR 5.00 X X 0 0 0 LATRICE BASDEN-CLARKE TRUSTEE 1.00 X 0 0 0 AMY C BIRDSONG TRUSTEE 1.00 X 0 0 0 JENNIFER P BIVINS TRUSTEE 1.00 X 0 0 0 WILLIAM BROTHERS TRUSTEE 1.00 X 0 0 0 HOWARD CASTERLOW TRUSTEE 1.00 X 0 0 0 THOMAS C COXE IV TRUSTEE 1.00 X 0 0 0 C SCOTT CREIGHTON TRUSTEE 1.00 X 0 0 0 RICHARD L EVANS TRUSTEE 1.00 X 0 0 0 LARRY FILER II TRUSTEE 1.00 X 0 0 0 RAJIV B NANAVATY TRUSTEE 1.00 X 0 0 0 SHARON A RAGHUBAR TRUSTEE 1.00 X 0 0 0 MATTHEW W SAWYER TRUSTEE 1.00 X 0 0 0 LATOYA C SHINE-MASON TRUSTEE 1.00 X 0 0 0 VERNON M TOWLER TRUSTEE 1.00 X 0 0 0 SHANNON A WOODWARD TRUSTEE 1.00 X 0 0 0 DEBORAH RUSSELL HEAD OF SCHOOL 50.00 X 262952 0 66485 ANGELA THOMPSON DIRECTOR OF FINANCE AND ACCOUNTING 50.00 X 102409 0 26527 365361 0 93012 2 0 1 0 FLIK INDEPENDENT SCHOOL DINING 2 INTERNATIONAL DRIVE RYE BROOK NY 10573 DINING 468873 CHESAPEAKE CONTROLS 3819 HOLLAND BLVD CHESAPEAKE VA 23323 HVAC 168287 2 76241 1780373 254960 1856614 TUITION 611600 14385241 14385241 EXTENDED DAY 611600 440352 440352 TRANSPORTATION 611600 279141 279141 INSTRUCTIONAL 611600 110917 110917 REGISTRATION 611600 63450 63450 186032 186032 15465133 67636 67636 153175 0 153175 153175 153175 170515 76241 118308 52207 52207 70057 70057 70057 17664822 15465133 0 343075 3036956 3036956 408352 408352 7476158 6626629 602574 246955 152313 141337 5709 5267 830042 744717 57586 27739 553228 483978 50479 18771 17707 17707 40196 5417 34779 28423 28423 109991 109991 80332 80332 167536 89389 77990 157 208926 19603 189285 38 924005 882965 39343 1697 183046 183046 3015 3015 257975 257975 951958 909673 40537 1748 124485 124485 INSTRUCTIONAL 482971 429161 53810 ATHLETICS 278276 278276 FOOD SERVICE 242900 242900 AUXILIARY 135312 135312 266435 95058 103926 67451 16960538 14304417 2286298 369823 2448800 3118151 287033 112484 304901 300913 44792 30126 241698 231264 29608787 16982170 13066477 12626617 3731706 3475778 20125407 19895333 1154080 1118042 356168 411353 5948950 5787992 7459198 7317387 X 11668322 11511158 997887 1066788 12666209 12577946 20125407 19895333 X 704284 -699942 -92605 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3731706 342776 -507204 91500 3475778 2879517 181693 762496 92000 3731706 2627986 269932 73599 92000 2879517 2477054 112277 130655 92000 2627986 2327689 68171 113845 32651 2477054 0.76872 0.23128 0.00000 0 0 4204868 4204868 19721866 12037996 7683870 5682053 4944174 737879 12626617 X 13605540 -699942 118308 -581634 14187174 28423 3449225 3477648 17664822 13693803 210913 210913 13482890 28423 3449225 3477648 16960538 PART V, LINE 4: THE SCHOOL'S ENDOWMENT CONSISTS OF VARIOUS FUNDS ESTABLISHED FOR SCHOLARSHIPS. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: THE ACADEMY IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ACADEMY MAY BE SUBJECT TO INCOME TAX ON UNRELATED BUSINESS INCOME, IF INCURRED. MANAGEMENT HAS EVALUATED THE EFFECT OF THE GUIDANCE PROVIDED BY U.S. GAAP. MANAGEMENT BELIEVES THAT THE ACADEMY CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AT JUNE 30, 2022. MANAGEMENT HAS EVALUATED ALL OTHER TAX POSITIONS THAT COULD HAVE A SIGNIFICANT EFFECT ON THE FINANCIAL STATEMENTS AND DETERMINED THE ACADEMY HAD NO UNCERTAIN INCOME TAX POSITIONS AT JUNE 30, 2022. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EVENT EXPENSES 118,308. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID & SCHOLARSHIPS SHOWN NET OF TUITION ON FINANCIALS 3,036,956. EMPLOYEE TUITION REMISSION SHOWN NET OF TUITION ON FINANCIALS 412,269. PART XII, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT EXPENSES 92,605. DIRECT FUNDRAISING EVENT EXPENSES 118,308. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID & SCHOLARSHIPS SHOWN NET OF TUITION ON FINANCIALS 3,036,956. EMPLOYEE TUITION REMISSION SHOWN NET OF TUITION ON FINANCIALS 412,269. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE SCHOOL PUBLICIZES ITS NONDISCRIMINATION POLICY ON ITS EMPLOYMENT APPLICATION AND AD CAMPAIGNS IN LOCAL PUBLICATIONS AT LEAST ONCE ANNUALLY. IT IS ALSO AVAILABLE ON THE ORGANIZATION'S WEBSITE. ART SHOW 125245 2380 122865 83441 GOLF TOURNAMENT 60166 44056 16110 3100 24171 3 61345 29805 31540 7596 246756 76241 170515 3100 115208 118308 52207 1 TUITION FINANCIAL AID GRANTS 469 3036956 FMV TUITION REDUCTION PART I, LINE 2: NSA PROVIDES TUITION ASSISTANCE GRANTS TO STUDENTS BASED UPON FINANCIAL NEED CRITERIA. THE GRANTS ARE FUNDED THROUGH THE OPERATING BUDGET AND MINIMAL DRAWS FROM THE ENDOWMENT. APPLICANTS COMPLETE A STANDARDIZED FORM WITH SSS (SCHOOL AND STUDENT SERVICES). NSA USES THE DATA RECEIVED FROM THIS INDEPENDENT PROCESSING CENTER TO CALCULATE FINANCIAL NEED AND SEEKS TO ISSUE GRANTS THAT TOTAL 50% OF DEMONSTRATED NEED. TAX RETURNS ARE REQUIRED TO VERIFY DATA RECEIVED. THE AUDIT COMMITTEE IS TASKED WITH AUDITING A SAMPLE OF RECIPIENTS EACH YEAR TO ENSURE THE VALIDITY OF THE PROCESS. X X 1 1 X X X 0 0 0 0 0 0 0 1 0 DEBORAH RUSSELL HEAD OF SCHOOL 222952 0 40000 0 0 0 9885 0 56600 0 329437 0 0 0 PART I, LINE 1A IN ORDER TO PROMOTE THE ORGANIZATION'S RELATIONSHIP WITH THE COMMUNITY, THE ORGANIZATION PAYS THE COST OF THE HEAD OF SCHOOL'S MEMBERSHIP IN VARIOUS SOCIAL CLUBS. TOTAL EXPENSES IN 2021 WERE $1,260 AND TREATED AS A NONTAXABLE BENEFIT SINCE THEY WERE PROVIDED FOR BUSINESS PURPOSES. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS ARE RELATED TO HEALTH INSURANCE COSTS AS WELL AS LONG TERM DISABILITY AND LIFE INSURANCE. PART I, LINE 7 DEBORAH RUSSELL'S BONUS WAS BASED ON PERFORMANCE AND THE SCHOOL WAS OPEN IN-PERSON FOR THE ENTIRE YEAR AS A RESULT OF ESTABLISHED COVID MEASURES. A VIRGINIA SMALL BUSINESS FINANCING AUTHORITY 541300845 2010-12-30 6400000 FINANCE AND REFINANCE CAPITAL EXPENDITURES 0 1 0 A 534676 6400000 83504 633928 5682568 2011 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 1 0 0 0 0 A 1 CHESAPEAKE CONTROLS OWNED 50% BY RICK EVANS, BOARD MEMBER 158741 HVAC SERVICES 0 X RENOVATIONS 6 224175 FMV X SUPPLIES 1 16261 FMV X OTHER 0 8287 FMV X LANDSCAPING 1 6237 FMV 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS E-MAILED TO ALL BOARD MEMBERS FOR THEIR REVIEW AND THEY HAVE THE OPPORTUNITY TO MAKE COMMENTS AND SUGGEST CHANGES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C NANSEMOND SUFFOLK ACADEMY HAS ADOPTED A CONFLICT OF INTEREST POLICY TO ENSURE THAT THE BOARD OF TRUSTEES AND KEY EMPLOYEES ARE ADMINISTERING THE SCHOOL'S AFFAIRS HONESTLY AND ECONOMICALLY, AND EXERCISING THEIR BEST CARE, SKILL AND JUDGMENT FOR THE BENEFIT OF THE SCHOOL. DISCLOSURE STATEMENTS/QUESTIONNAIRES ARE COMPLETED ON ANNUAL BASIS. IN THE EVENT OF A CONFLICT OF INTEREST DURING THE YEAR, THE BOARD MEMBER WITH THE POTENTIAL CONFLICT WILL RECUSE HIMSELF/HERSELF FROM THE DISCUSSION AND VOTE. FORM 990, PART VI, SECTION B, LINE 15 SALARY AND BENEFITS FOR THE HEAD OF SCHOOL ARE DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE REVIEWS SALARY DATA FROM NAIS (NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS) AND VAIS (VIRGINIA ASSOCIATION OF INDEPENDENT SCHOOLS). SALARY AND BENEFITS FOR OTHER EMPLOYEES ARE DETERMINED BY THE HEAD OF SCHOOL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: BAD DEBT EXPENSE -92,605.