BETA

CAPSTONE EDUCATION GROUP INC: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
CAPSTONE EDUCATION GROUP INC (EIN 45-4885204)
Tax period
2022-07-01 to 2023-06-30
Filed
2023-12-19
IRS object ID
202313539349300231
Schema version
2022v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2023-12-19T14:10:32-06:00ReturnTs
Tax Period End2023-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN621114363PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1HENDERSON HUTCHERSON & MCCULLOUGH PLLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11755 KIRBY PARKWAY SUITE 200AddressLine1Txt
CityMEMPHISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38120ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2022-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN454885204EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1CAPSTONE EDUCATION GROUP INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlCAPSBusinessNameControlTxt
Phone9012614384PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 22569AddressLine1Txt
CityMEMPHISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP381220569ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonDREW SIPPELPersonNm
Person TitleEXECUTIVE DIRECTORPersonTitleTxt
Phone9012614384PhoneNum
Signature2023-12-13SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstDREWPersonFirstNm
Person LastSIPPELPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonRICHARD A SWOPE CPAPreparerPersonNm
PTINP00590766PTIN
Phone9016834234PhoneNum
Preparation2023-12-11PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerDREW SIPPELPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1320 CARPENTER STREETAddressLine1Txt
CityMEMPHISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38112ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$20,578,588GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.CORNERSTONEPREPMEMPHIS.ORG/CAPSTONE-EDUCATWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2012FormationYr
Legal Domicile StateTNLegalDomicileStateCd
Activity Or MissionEQUIPS STUDENTS WITH WISDOM AND KNOWLEDGE NECESSARY TO SUCCEED IN COLLEGEActivityOrMissionDesc
Voting Members Governing Body7VotingMembersGoverningBodyCnt
Voting Members Independent7VotingMembersIndependentCnt
Total Employee268TotalEmployeeCnt
Total Volunteers175TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$20,250,688PYContributionsGrantsAmt
CY Contributions Grants$20,432,340CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income$146,248CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$20,250,688PYTotalRevenueAmt
CY Total Revenue$20,578,588CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$12,040,610PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$13,902,316CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$23,998CYTotalFundraisingExpenseAmt
PY Other Expenses$4,184,099PYOtherExpensesAmt
CY Other Expenses$4,303,420CYOtherExpensesAmt
PY Total Expenses$16,224,709PYTotalExpensesAmt
CY Total Expenses$18,205,736CYTotalExpensesAmt
PY Revenues Less Expenses$4,025,979PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$2,372,852CYRevenuesLessExpensesAmt
Total Assets BOY$24,521,664TotalAssetsBOYAmt
Total Assets EOY$23,971,387TotalAssetsEOYAmt
Total Liabilities BOY$3,737,785TotalLiabilitiesBOYAmt
Total Liabilities EOY$814,656TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$20,783,879NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$23,156,731NetAssetsOrFundBalancesEOYAmt
MissionEQUIPS STUDENTS WITH WISDOM AND KNOWLEDGE NECESSARY TO SUCCEED IN COLLEGEMissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$17,783,641ExpenseAmt
DescCOLLEGE PREPARATORY SCHOOL PROVIDING STUDENTS WITH A CHALLENGING AND HIGH QUALITY EDUCATION.Desc
Total Program Service Expenses$17,783,641TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other AssetsYes (1)ReportOtherAssetsInd
Report Other LiabilitiesYes (1)ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School OperatingYes (1)SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document26IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee268EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members7GoverningBodyVotingMembersCnt
Independent Voting Member7IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldTNStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE ORGANIZATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone9014163640PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1320 CARPENTER STAddressLine1Txt
CityMEMPHISCityNm
State AbbreviationTNStateAbbreviationCd
ZIP38112ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtHighest Compensated EmployeeHighestCompensatedEmployeeInd
PAUL F T EDWARDS
SECRETARY2.00Yes (X)Yes (X)$0$0$0
THOMAS M MARINO
VICE CHAIRMAN2.00Yes (X)Yes (X)$0$0$0
CAMELA ECHOLS
DIRECTOR2.00Yes (X)$0$0$0
SCOTT WALKER
CHAIRMAN2.00Yes (X)Yes (X)$0$0$0
OCTAVIOUS NICKSON
DIRECTOR2.00Yes (X)$0$0$0
DR YOLUNDA BASS BEALE
DIRECTOR2.00Yes (X)$0$0$0
DREW SIPPEL
EXECUTIVE DIRECTOR50.00Yes (X)$226,919$0$0
YOLANDA DANDRIDGE
PRINCIPAL OF CORNERSTONE PREP SCHOOL1.00$134,995$0$0Yes (X)
MICHELLE LYONS
PRINCIPAL OF CORNERSTONE PREP SCHOOL DENVER1.00$128,415$0$0Yes (X)
BRIDGETTE V SIMMONS
DEAN OF CULTURE1.00$100,326$0$0Yes (X)
MEAGAN A TATE
CHIEF CULTURE OFFICER1.00$109,453$0$0Yes (X)
FieldValueIRS element (for citing)
Total Reportable Comp From Org$700,108TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K5IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (2 entries)

Address Line1ContractorAddress/USAddress/AddressLine1TxtCityContractorAddress/USAddress/CityNmState AbbreviationContractorAddress/USAddress/StateAbbreviationCdZIPContractorAddress/USAddress/ZIPCdServicesServicesDescCompensationCompensationAmt
GIVE CLEAN LLC
2139 S GERMANTOWN RDGERMANTOWNTN38138CLEANING SERVICE$216,766
DURHAM SCHOOL SERVICES
PO BOX 841879DALLASTX752841879TRANSPORTATION$130,557
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K2CntrctRcvdGreaterThan100KCnt
Government Grants$18,700,148GovernmentGrantsAmt
All Other Contributions$1,732,192AllOtherContributionsAmt
Total Contributions$20,432,340TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$146,248TotalRevenueColumnAmt
Exclusion$146,248ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$20,578,588TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$146,248ExclusionAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$698,533TotalAmt
Program Services$606,387ProgramServicesAmt
Management And General$69,853ManagementAndGeneralAmt
Fundraising$22,293FundraisingAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$11,167,225TotalAmt
Program Services$10,956,813ProgramServicesAmt
Management And General$210,412ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$447,516TotalAmt
Program Services$447,516ProgramServicesAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$733,806TotalAmt
Program Services$716,474ProgramServicesAmt
Management And General$17,332ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$855,236TotalAmt
Program Services$833,331ProgramServicesAmt
Management And General$20,200ManagementAndGeneralAmt
Fundraising$1,705FundraisingAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$605,228TotalAmt
Program Services$605,228ProgramServicesAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$100,221TotalAmt
Program Services$100,221ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$153,281TotalAmt
Program Services$153,281ProgramServicesAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$809,343TotalAmt
Program Services$768,875ProgramServicesAmt
Management And General$40,468ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$33,763TotalAmt
Program Services$33,763ProgramServicesAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$71,506TotalAmt
Program Services$67,931ProgramServicesAmt
Management And General$3,575ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
CONTRACT SERVICES$638,309$631,207$7,102
SUPPLIES$530,862$530,862
EQUIPMENT/BOOKS$418,718$389,563$29,155
DUES AND MEMBERSHIPS$379,968$379,968

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$562,221TotalAmt
Program Services$562,221ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$18,205,736TotalAmt
Program Services$17,783,641ProgramServicesAmt
Management And General$398,097ManagementAndGeneralAmt
Fundraising$23,998FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$12,171,144BOYAmt
EOY$1,375,448EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$2,546,575BOYAmt
EOY$14,590,988EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$3,983,083BOYAmt
EOY$4,648,557EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$7,781BOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$23,723LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$23,723LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$5,813,081BOYAmt
EOY$3,356,394EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$24,521,664BOYAmt
EOY$23,971,387EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$423,108BOYAmt
EOY$351,262EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$3,314,677BOYAmt
EOY$463,394EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$3,737,785BOYAmt
EOY$814,656EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$20,783,879BOYAmt
EOY$23,156,731EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$20,783,879BOYAmt
EOY$23,156,731EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$24,521,664BOYAmt
EOY$23,971,387EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$2,372,852ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit RequiredYes (1)FederalGrantAuditRequiredInd
Federal Grant Audit PerformedYes (1)FederalGrantAuditPerformedInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
SchoolYes (X)SchoolInd

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$9,490OtherCostOrOtherBasisAmt
Depreciation$9,490DepreciationAmt
Book Value$0BookValueAmt

Equipment EquipmentGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$14,233OtherCostOrOtherBasisAmt
Depreciation$14,233DepreciationAmt
Book Value$0BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$0TotalBookValueLandBuildingsAmt

Other Assets Org OtherAssetsOrgGrp (4 entries)

DescDescBook ValueBookValueAmt
DEFERRED OUTFLOWS$1,535,820
NET PENSION ASSET$1,125,299
TCRS STABILIZATION TRUST$523,246
RIGHT OF USE LEASE ASSET$172,029
FieldValueIRS element (for citing)
Total Book Value Other Assets$3,356,394TotalBookValueOtherAssetsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)

DescDescAmtAmt
DEFERRED INFLOWS$289,699
LEASE LIABILITY$173,695
FieldValueIRS element (for citing)
Total Liability$463,394TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$20,578,588TotalRevEtcAuditedFinclStmtAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$20,578,588RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$20,578,588TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$18,205,735TotExpnsEtcAuditedFinclStmtAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$18,205,735ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$18,205,735TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART X, LINE 2:FormAndLineReferenceDesc
ExplanationACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES MANAGEMENT OF THE SCHOOL TO EVALUATE TAX POSITIONS TAKEN BY THE SCHOOL AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE SCHOOL HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE SCHOOL HAS ANALYZED THE TAX POSITIONS TAKEN BY THE SCHOOL AND HAS CONCLUDED THAT AS OF JUNE 30, 2023, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE SCHOOL IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY TAX PERIODS. THE SCHOOL BELIEVES THAT IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2020.ExplanationTxt

Schedule E IRS990ScheduleE

FieldValueIRS element (for citing)
Nondiscriminatory Policy StmtYes (1)NondiscriminatoryPolicyStmtInd
Policy Stmt In Brochures EtcYes (1)PolicyStmtInBrochuresEtcInd
Plcy Pblczd Via Broadcast MediaYes (1)PlcyPblczdViaBroadcastMediaInd
Maintain Racial Comp RecsYes (1)MaintainRacialCompRecsInd
Maintain Scholarships RecsYes (1)MaintainScholarshipsRecsInd
Maintain Cpy Of Brochures EtcYes (1)MaintainCpyOfBrochuresEtcInd
Maintain Cpy Of All SolYes (1)MaintainCpyOfAllSolInd
Discriminate Race Stdnts Rghts0DiscriminateRaceStdntsRghtsInd
Discriminate Race Admiss Plcy0DiscriminateRaceAdmissPlcyInd
Discriminate Race Emplm Fculty0DiscriminateRaceEmplmFcultyInd
Discriminate Race Schs0DiscriminateRaceSchsInd
Discriminate Race Educ Plcy0DiscriminateRaceEducPlcyInd
Discriminate Race Use Of Fclts0DiscriminateRaceUseOfFcltsInd
Discriminate Race Athlt Prog0DiscriminateRaceAthltProgInd
Discriminate Race Other Acty0DiscriminateRaceOtherActyInd
Government Financial Aid RcvdYes (1)GovernmentFinancialAidRcvdInd
Government Financial Aid Rvkd0GovernmentFinancialAidRvkdInd
Compliance With Rev Proc7550Yes (1)ComplianceWithRevProc7550Ind

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
SCHEDULE E, PART I, LINE 3ALL MATERIALS RELATED TO SOLICITATION FOR STUDENTS, INCLUDING REGISTRATION MATERIALS, CLEARLY DESCRIBES THE SCHOOL'S NON-DISCRIMINATION POLICIES IN AN ATTEMPT TO INFORM THE ENTIRE COMMUNITY OF ITS NON-DISCRIMINATORY POLICIES.
SCHEDULE E, PART I, LINE 6RECEIVED GRANTS FROM THE TENNESSEE DEPARTMENT OF EDUCATION OF $13,622,581 AND U.S. DEPARTMENT OF EDUCATION GRANTS OF $5,077,567.

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr Plan0SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org0CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs0CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org0CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs0CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments0AnyNonFixedPaymentsInd
Initial Contract Exception0InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp

FieldValueIRS element (for citing)
PersonDREW SIPPELPersonNm
TitleEXECUTIVE DIRECTORTitleTxt
Base Compensation Filing Org$226,919BaseCompensationFilingOrgAmt
Compensation Based On Rltd Orgs$0CompensationBasedOnRltdOrgsAmt
Bonus Filing Organization$0BonusFilingOrganizationAmount
Bonus Related Organizations$0BonusRelatedOrganizationsAmt
Other Compensation Filing Org$0OtherCompensationFilingOrgAmt
Other Compensation Rltd Orgs$0OtherCompensationRltdOrgsAmt
Deferred Compensation Flng Org$0DeferredCompensationFlngOrgAmt
Deferred Comp Rltd Orgs$0DeferredCompRltdOrgsAmt
Nontaxable Benefits Filing Org$0NontaxableBenefitsFilingOrgAmt
Nontaxable Benefits Rltd Orgs$0NontaxableBenefitsRltdOrgsAmt
Total Compensation Filing Org$226,919TotalCompensationFilingOrgAmt
Total Compensation Rltd Orgs$0TotalCompensationRltdOrgsAmt
Comp Report Prior990 Filing Org$0CompReportPrior990FilingOrgAmt
Comp Report Prior990 Rltd Orgs$0CompReportPrior990RltdOrgsAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION B, LINE 11BTHE PREPARER PROVIDED A COPY OF THE FINAL VERSION OF FORM 990 TO THE BOARD OF DIRECTORS BEFORE IT WAS FILED. ADDITIONALLY, THE BOARD OF DIRECTORS REVIEWED AND APPROVED THE RETURN BEFORE IT WAS FILED.
FORM 990, PART VI, SECTION B, LINE 12CANNUAL CONFLICT OF INTEREST STATEMENTS TO IDENTIFY POTENTIAL CONFLICTS WITH VENDORS, EMPLOYEES, CLIENTS, AND OTHER POTENTIAL CONFLICTS ARE COMPLETED BY ALL BOARD MEMBERS. PERIODIC REVIEWS ARE ALSO CONDUCTED AND WHEN CONFLICTS ARISE, A RESOLUTION IS DETERMINED BY THE BOARD OF DIRECTORS.
FORM 990, PART VI, SECTION B, LINE 15COMPENSATION FOR ALL EMPLOYEES OF CAPSTONE EDUCATION GROUP ARE DETERMINED BASED ON MARKET RATES, EDUCATION LEVEL AND EXPERIENCE AND COMPENSATION LEVELS ARE CONSISTENT WITH COMPARABLE DATA FROM SCHOOL SYSTEMS IN THE AREA WITH BOARD APPROVAL OF ALL EMPLOYEE COMPENSATION.
FORM 990, PART VI, SECTION C, LINE 19CAPSTONE EDUCATION GROUP HAS AVAILABLE FOR PUBLIC INSPECTION ALL REQUIRED DOCUMENTS IN A SEPARATE BINDER MARKED "OPEN FOR PUBLIC INSPECTION AND WILL PROVIDE THE INFORMATION FOR REVIEW BY ANYONE UPON REQUEST.
FORM 990, PART XII, LINE 2CTHE ORGANIZATION HAS NOT CHANGED THE OVERSIGHT PROCESS FOR THE AUDITED FINANCIAL STATEMENTS OR THE SELECTION PROCESS OF THE INDEPENDENT AUDITORS FROM THE PRIOR YEAR.

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