2023-04-13T15:50:57-05:00 2022-05-31 SMITH & HOWARD ADVISORY LLC 271 17TH STREET NW SUITE 1600 ATLANTA GA 30363 990 2021-06-01 580616994 RIVERSIDE MILITARY ACADEMY INC % LAURA MAXWELL RIVE 7705326251 2001 RIVERSIDE DRIVE GAINESVILLE GA 30501 STANLEY C PRECZEWSKI PRESIDENT 7705382189 2023-04-15 true STANLEY C PRECZEWSKI 999009999 SABRE J LINAHAN P01372980 4048746244 2023-04-15 2 2021 2023-04-26 12:10:37Z STANLEY C PRECZEWSKI 2001 RIVERSIDE DRIVE GAINESVILLE GA 30501 36153122 false X WWW.RIVERSIDEMILITARY.COM X 1907 GA TO PREPARE ETHICAL YOUNG MEN OF CHARACTER FOR SUCCESS THROUGH ACADEMICS, LEADERSHIP, ATHLETICS, CO-CURRICULARS, AND THE STRUCTURE & DISCIPLINE OF A MILITARY COLLEGE PREP ENVIRONMENT. 20 19 190 20 0 0 5539304 7071879 14727176 14635509 1418590 1065323 388877 299371 22073947 23072082 3712633 2908804 0 0 8175064 9073391 0 0 358423 9857163 11346322 21744860 23328517 329087 -256435 83260866 79257666 54373051 52374491 28887815 26883175 X TO PREPARE ETHICAL YOUNG MEN OF CHARACTER FOR SUCCESS IN COLLEGE AND IN LIFE THROUGH THE PROVISION OF A RIGOROUS ACADEMIC PROGRAM, LEADERSHIP OPPORTUNITIES, COMPETITIVE ATHLETICS, EXTENSIVE CO-CURRICULARS, AND THE STRUCTURE AND DISCIPLINE INHERENT IN A MILITARY COLLEGE PREPARATORY SCHOOL ENVIRONMENT. false false 18364881 2908804 14934880 Located in Gainesville, Georgia, Riverside Preparatory Academy is a private, boarding, preparatory school serving young men in grades 6 through 12. Riverside Prep proudly implements a military model of education, refined and focused to bring out the absolute best in students and to develop simply great men. Through signature programs like Cyber Security and Aerospace Engineering, fine arts programs including music and video production, and competitive sports and other team-building activities, the experience at Riverside is designed to identify the very height and breadth of potential, craft exemplary character, and prepare students for a lifetime of ... (CONTINUED ON SCHEDULE O) 18364881 true true false false false false false false false true true false false false true true false true true false true false true false false false false false true true true false false false false false false false false false true true false false false false true false false false true 15 0 190 true false false false false false true true false false false false false false X 20 19 true false false false false false false true true false false true true true true true false true true false GA X LAURA MAXWELL 7705382189 2001 RIVERSIDE DRIVE GAINESVILLE GA 30501 X STANLEY C PRECZEWSKI President 53.0 0.0 X 321704 0 19651 LAURA A MAXWELL CHIEF FINANCIAL OFFICER 53.0 0.0 X 208171 0 37182 ELLEN G DEFOOR VP OF ADVANCEMENT 53.0 1.0 X 153621 0 21742 ROBERT B DANIEL EXECUTIVE VICE PRESIDENT 53.0 0.0 X 148426 0 17648 CATHY MOORE DEAN OF ACADEMICS 53.0 0.0 X 147850 0 8731 RENDER MITCHELL VP OF ADVANCEMENT 53.0 0.0 X 115884 0 26960 DAVID LEE SENIOR ARMY INSTRUCTOR 53.0 0.0 X 126543 0 1610 DANIEL J KAUFMAN PH D CHAIRMAN 1.0 1.0 X 0 0 0 C BRIAN DANIEL PAST CHAIRMAN 1.0 0.0 X 0 0 0 ANTHONY M HERDENDER VICE CHAIRMAN, TREASURER 1.0 0.0 X 0 0 0 JOHN W JACOBS III SECRETARY 1.0 1.0 X 0 0 0 DR WILLIAM E RUSSELL SR TRUSTEE 1.0 0.0 X 0 0 0 FOSTER BACHSCHMIDT TRUSTEE 1.0 0.0 X 0 0 0 DR BRYAN BALDWIN TRUSTEE 1.0 0.0 X 0 0 0 RUBEN A BARAHONA TRUSTEE 1.0 0.0 X 0 0 0 MARGARET O BLACKSTOCK TRUSTEE 1.0 0.0 X 0 0 0 MAJ GEN MARK A BROWN TRUSTEE 1.0 0.0 X 0 0 0 JOHN JETTE CAMPBELL TRUSTEE 1.0 0.0 X 0 0 0 FELIX A GONZALEZ CANTO TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM B CARR JR TRUSTEE 1.0 0.0 X 0 0 0 COUNTE L COOLEY TRUSTEE 1.0 0.0 X 0 0 0 BERNARD M FREEMAN TRUSTEE 1.0 1.0 X 0 0 0 DREW W HORNER TRUSTEE 1.0 0.0 X 0 0 0 ERNEST T LOPEZ III TRUSTEE 1.0 0.0 X 0 0 0 DR LARRY JEFFREY PAYNE TRUSTEE 1.0 0.0 X 0 0 0 JOHNATHAN A POPE TRUSTEE 1.0 0.0 X 0 0 0 JAMES R VAN ARSDALE TRUSTEE 1.0 0.0 X 0 0 0 1222199 0 133524 8 false true false RUSSELL LANDSCAPE LLC PO BOX 63220 CHARLOTTE NC 28263 LANDSCAPE 171779 ARAMARK PO BOX 978839 DALLAS TX 76397 DINING 1178071 CLASSIC CITY SOLUTIONS INC 1487 DUNLAP ROAD WINTERVILLE GA 30683 CUSTODIAL 258940 EDWARDSCO PRIVATE SCHOOL MARKETING 3 GOULDING ST E SHERBORN MA 01770 MARKETING 151324 BROHM TEK TECHNOLOGY SERVICES 310 ACADEMY ST NW GAINESVILLE GA 30501 TECHNOLOGY 131185 6 X 4565113 2506766 207212 7071879 TUITION 611710 14169330 14169330 AUXILLARY SERVICES 611710 411579 411579 SUMMER PROGRAMS 611710 54600 54600 14635509 334565 334565 0 0 0 0 0 13431776 13934 12687002 27950 744774 -14016 730758 730758 0 0 0 0 0 0 585453 366088 219365 219365 MISCELLANEOUS REVENUE 80006 80006 80006 23072082 14934880 1065323 0 2733804 2733804 175000 175000 0 557349 371167 169885 16297 0 7052935 4705608 2098315 249012 235912 155702 80210 668387 441135 227252 558808 368813 189995 0 5696 5696 69975 69975 0 0 0 401636 98774 302862 225339 196199 29140 314465 190000 119237 5228 148455 115948 12264 20243 0 2327033 1566037 758340 2656 80530 30986 49402 142 0 0 2603128 2465850 137278 0 2817044 2676192 140852 73755 73755 FOOD/LAUNDRY SERVICES 1527128 1527128 OTHER EXPENSES 270091 52673 214510 2908 SPECIAL EVENTS 179523 117586 61937 BAD DEBT EXPENSE 172273 172273 130251 130251 23328517 18364881 4605213 358423 3027257 2211147 3275400 3275933 312796 555168 277583 3116274 0 0 0 0 0 0 768791 931782 343875 416141 116735360 68186187 50725508 48549173 24476217 20194137 0 0 0 0 0 0 53439 7911 83260866 79257666 1281942 1576404 0 0 484832 585003 49931151 49242620 0 0 0 0 0 0 1537607 0 1137519 970464 54373051 52374491 X 24028040 21899171 4859775 4984004 28887815 26883175 83260866 79257666 X -256435 -1604072 -144133 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21983805 1220610 -584812 3439116 19180487 22146958 1098235 4468900 5730288 21983805 26218565 155920 1501339 5728866 22146958 24451782 131185 1720541 84943 26218565 22626253 369411 1525589 69471 24451782 0.80000 0.20000 false false 791124 791124 97067513 52101446 44966067 6007184 3550337 2456847 12869539 12534404 335135 0 48549173 0 BOND PREMIUM 105884 ACCRUED BOND INTEREST PAYABLE 641884 MISCELLANEOUS LIABILITIES 58581 BOND INTEREST RECEIVABLE 7615 UNAMORTIZED FLIK INVESTMENT 156500 970464 X PART V, LINE 4: THE ACADEMY'S ENDOWMENT CONSISTS OF TWENTY INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENTS. PART X, LINE 2: The Academy is a tax-exempt entity under Section 501(c)(3) of the Internal Revenue Code (the "Code"). Only unrelated business income, as defined by Section 512(a)(1) of the Code, is subject to income taxes. The Academy annually evaluates all federal and state income tax positions. This process includes an analysis of whether these income tax positions the Academy takes meet the definition of an uncertain tax position under the Income Taxes Topic of the Financial Accounting Standards Codification. In general, the Academy is no longer subject to tax examinations for tax years ending before May 31, 2019. true true false true true true true false false false false false false false false false false true SCHEDULE E, PART I, LINE 3 THE ADMISSIONS APPLICATION BOOKLET CONTAINS THE POLICY AND TWO PUBLIC COMMUNICATIONS ARE MADE EACH YEAR IN EDUCATIONAL PUBLICATIONS. ADDITIONALLY, THE POLICY IS ON THE ACADEMY'S WEBSITE AT WWW.RIVERSIDEMILITARY.COM/NETCOMMUNITY/REQUESTINFO_APPLY Central America and the Caribbean 0 0 Fundraising 0 0 0 0 FINANCIAL AID Central America and the Caribbean 1 2500 APPL TO ACCT FINANCIAL AID East Asia and the Pacific 2 25000 APPL TO ACCT FINANCIAL AID Middle East and North Africa 1 3000 APPL TO ACCT FINANCIAL AID Russia and the Newly Independent States 3 48500 APPL TO ACCT FINANCIAL AID Sub-Saharan Africa 4 96000 APPL TO ACCT false false false false false false true TUITION DISCOUNTS 32 1939832 TUITION ASSISTANCE SCHOLARSHIPS 66 793972 TUITION SCHOLARSHIP PART I, LINE 2: THE FINANCIAL AID DEPARTMENT MAINTAINS RECORDS TO SUBSTANTIATE ALL AMOUNTS GIVEN IN FINANCIAL AID. PARENTS COMPLETE AN APPLICATION WITH FINANCIAL INFORMATION ON A FACTS TUITION MANAGEMENT FORM THAT PROVIDES "EXPECTED FAMILY CONTRIBUTION (EFC)" DATA. THE DIRECTOR OF ADMISSIONS REVIEWS THE GAP BETWEEN THE COST TO ATTEND AND THE EFC. IF SIGNIFICANT AID IS INDICATED, THE QUESTION OF HOW MUCH IS PRESENTED TO THE CFO AND FINALLY TO THE PRESIDENT FOR RESOLUTION. X X true false X X false false false false false false false false false LAURA A MAXWELL CHIEF FINANCIAL OFFICER 208171 0 0 0 0 0 12968 0 25014 0 246153 0 0 0 ELLEN G DEFOOR VP OF ADVANCEMENT 153621 0 0 0 0 0 9398 0 13144 0 176163 0 0 0 ROBERT B DANIEL EXECUTIVE VICE PRESIDENT 148426 0 0 0 0 0 8737 0 9695 0 166858 0 0 0 STANLEY C PRECZEWSKI President 311704 0 0 0 10000 0 19651 0 800 0 342155 0 0 0 CATHY MOORE DEAN OF ACADEMICS 147850 0 0 0 0 0 8731 0 800 0 157381 0 0 0 PART I, LINE 1A THE PRESIDENT IS PROVIDED AN ON-CAMPUS RESIDENCE FOR THE CONVENIENCE OF THE ADACEMY. ADDITIONALLY, THE ACADEMY PAID A MEMBERSHIP INVESTMENT OF $580 TO THE GREATER HALL CHAMBER OF COMMERCE FOR THE PRESIDENT. A GAINESVILLE AND HALL COUNTY DEVELOPMENT AUTHORITY 581520209 36274PAAS 2017-05-16 6210000 REFINANCE REVENUE BONDS FROM 2007 false false false B GAINESVILLE AND HALL COUNTY DEVELOPMENT AUTHORITY 581520209 36274PAB3 2017-05-16 12085000 REFINANCE REVENUE BONDS FROM 2007 false false false C GAINESVILLE AND HALL COUNTY DEVELOPMENT AUTHORITY 581520209 36274PAC1 2017-05-16 19680000 REFINANCE REVENUE BONDS FROM 2007 false false false D GAINESVILLE AND HALL COUNTY DEVELOPMENT AUTHORITY 581520209 36274PAD9 2017-05-16 14120000 REFINANCE REVENUE BONDS FROM 2007 false false false A 0 0 6210000 0 0 0 0 0 0 0 6210000 0 2017 true false true true B 0 0 12085000 0 0 0 0 0 0 0 12085000 0 2017 true false true true C 650000 0 19680000 0 0 0 0 0 0 0 19680000 0 2017 true false true true D 0 0 14120000 0 0 0 0 0 0 0 14120000 0 2017 true false true true A false false false false 0 false false false false B false false false false 0 false false false false C false false false false 0 false false false false D false false false false 0 false false false false A true false false 0 false 0 false false B true false false 0 false 0 false false C true false false 0 false 0 false false D true false false 0 false 0 false false A false B false C false D false SCHEDULE K, SUPPLEMENTAL INFORMATION ON MAY 16, 2017, GAINESVILLE AND HALL COUNTY DEVELOPMENT AUTHORITY ISSUED "GAINESVILLE AND HALL COUNTY DEVELOPMENT AUTHORITY EDUCATIONAL FACILITIES REFUNDING REVENUE BONDS (RIVERSIDE MILITARY ACADEMY, INC. PROJECT) SERIES 2017" TO THE ACADEMY IN THE PRINCIPAL FACE AMOUNT OF $52,095,000. INTEREST IS CALCULATED AT A FIXED RATE OF 5%, WHICH WILL INCREASE TO 5.125% ON MARCH 1, 2047 THROUGH MATURITY ON MARCH 1, 2052. THE PROCEEDS FROM THIS BOND ISSUE WERE USED TO EXTINGUISH THE REVENUE BONDS ISSUED BY THE GAINESVILLE REDEVELOPMENT AUTHORITY IN 2007. WILLIAM E RUSSELL TRUSTEE 176681 LANDSCAPE SERVICES false SCH L PART IV WILLIAM RUSSELL'S SON IS THE OWNER OF RUSSELL LANDSCAPE GROUP, INC, FROM WHICH RIVERSIDE MILITARY ACADEMY CONTRACTED LANDSCAPE SERVICES DURING THE FISCAL YEAR. RIVERSIDE PAID RUSSELL LANDSCAPE $176,681 DURING THE CURRENT TAX YEAR AND THIS TRUSTEE IS REPORTED AS AN INTERESTED PERSON AS A RESULT OF THOSE TRANSACTIONS. X 170 RECEIPT/FMV PROVIDED X 95551 RECEIPT/FMV PROVIDED X 1 81678 STOCK QUOTE X 39 13379 RECEIPT/FMV PROVIDED X 2 1533 RECEIPT/FMV PROVIDED X 1 25 X CHARTER BUS TRANSPORTATION 1 3426 RECEIPT/FMV PROVIDED X TOOLS, CLEAN-UP/MULCHING 1 10750 RECEIPT/FMV PROVIDED X TRACK EVENT ENTRANCE FEES 1 300 RECEIPT/FMV PROVIDED X PRINTING 1 300 RECEIPT/FMV PROVIDED X LODGING 1 100 0 0 false true true LINE 32B WILLIS INVESTMENTS COUNSEL IS A THIRD PARTY THAT ACCEPTS GIFTS OF STOCK ON BEHALF OF RIVERSIDE MILITARY ACADEMY AND THEN PROCESSES THE SALE OF THOSE STOCKS UPON RECEIPT. FORM 990, PART III, LINE 4A: (CONTINUED) ... leadership, accomplishment, and fulfillment. Colleges nationwide recognize the value of a Riverside Prep education as our 2022 graduates were offered $3.5 million in academic scholarships and $351,000 in ROTC scholarships and were accepted to 161 different colleges, universities, and service academies nationwide, including NYU, Cornell, the United States Air Force and Coast Guard Academies, Texas A&M, Embry-Riddle Aeronautical University, and Georgia Tech - just to name a few. At Riverside Prep, students not only achieve academic excellence, they experience what it's like to be part of a brotherhood, become mentors, and gain true and complete understanding of their potential. FORM 990, PART VI, SECTION A, LINE 2: ELLEN DEFOOR (VP OF ADVANCEMENT) AND MARK DEFOOR (DIRECTOR OF ATHLETICS) ARE MARRIED. FORM 990, PART VI, SECTION B, LINE 11B: PRIOR TO FILING THE FORM 990 WITH THE IRS, THE BOARD OF TRUSTEES RECEIVED A COPY OF THE FORM 990 ELECTRONICALLY. TEN BUSINESS DAYS WERE PROVIDED FOR RESOLVING QUESTIONS AND COMMENTS BEFORE FILING THE FINAL FORM 990 WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C: EMPLOYEES MUST DISCLOSE ANY CONFLICTS ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15: BENCHMARK MATERIAL WAS USED AS WELL AS PAST EXPERIENCE. FORM 990, PART VI, SECTION C, LINE 18: ALL INFORMATION RETURNS ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19: ALL GOVERNING DOCUMENTS ARE AVAILABLE FROM THE ORGANIZATION UPON REQUEST. FORM 990, PART VIII, LINE 1E: PAYCHECK PROTECTION PROGRAM: In April 2020, the Academy obtained a Small Business Administration ("SBA") loan under the Paycheck Protection Program Flexibility Act ("PPPFA") in the amount of $2,043,700. The Paycheck Protection Program ("PPP") loan bears interest at 1% and will follow the repayment terms outlined by the Coronavirus Aid, Relief, and Economic Securities Act (the "CARES Act") and PPPFA. In June 2021, the Academy obtained PPPFA loan forgiveness and recorded the funds within other changes in the accompanying consolidated statement of activities. In February 2021, the Academy obtained a second Small Business Administration loan under the PPPFA in the amount of $1,537,607 The second PPP loan has the same provisions as the PPPFA first loan mentioned above. During 2022, the Academy obtained PPPFA loan forgiveness and recorded the funds within other changes in the accompanying consolidated statement of activities. recorded the funds within other changes in the accompanying consolidated statement of activities. EMPLOYEE RETENTION CREDIT: As part of the CARES act, employers have the option to participate in the Employee Retention Credit ("ERC"). The ERC is a benefit provided through payroll tax credits to encourage maintaining employee headcounts throughout the Coronavirus pandemic. The Academy is treating the ERC as a conditional grant and records revenue when the conditions are substantially met. During 2022, the Academy met the conditions required by the ERC and recognized grant revenue of $3,027,506 in the accompanying consolidated statement of activities. FORM 990, PART XI, LINE 9, OTHER CHANGES IN NET ASSETS: 12,142 - UNREALIZED LOSS ON BENEFICIAL INTEREST IN PERPETUAL TRUST 131,991 - SANDY BEAVER ENTREPRENEUR LEADERSHIP PROGRAM MOVED TO FOUNDATION -------------------------- -144,133 = TOTAL OTHER CHANGES IN NET ASSETS RIVERSIDE MILITARY ACADEMY FOUNDATION 2001 RIVERSIDE DRIVE GAINESVILLE GA 30501 464243684 FUND RAISING GA 501(C)(3) LINE 12B false false true false false false false false false false false false false false false false false false false false PART II, IDENTIFICATION OF RELATED TAX-EXEMPT ORGANIZATION: NAME, ADDRESS, AND EIN OF RELATED ORGANIZATION: RIVERSIDE MILITARY ACADEMY FOUNDATION, INC. EIN: 46-4243684 2001 RIVERSIDE DRIVE GAINESVILLE, GA 30501 PRIMARY ACTIVITY: RAISE AND RECEIVE FUNDS FOR THE SUPPORT OF RIVERSIDE MILITARY ACADEMY