2022-04-20T20:46:36-05:00 2021-06-30 953001179 DONITA M JOSEPH PO BOX 87 LONG BEACH CA 908010087 990 2020-07-01 953735164 ROLLING HILLS PREPARATORY SCHOOL ROLL 3107911101 ONE ROLLING HILLS PREP WAY SAN PEDRO CA 90732 AMY HOLLINGER HEAD OF SCHOOL 3107911101 2022-04-20 1 AMY HOLLINGER 953001179 P00286656 5624351191 2022-04-20 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z AMY HOLLINGER ONE ROLLING HILLS PREP WAY SAN PEDRO CA 90732 18818251 0 X WWW.ROLLINGHILLSPREP.ORG X 1981 CA INDEPENDENT EDUCATIONAL INSTITUTE FOR 210 STUDENTS GRADE 1-12. 11 11 134 18 0 0 2982463 10658798 9203583 8032193 169 14 -101 91290 12186114 18782295 2431108 2191839 0 0 7582096 6712453 0 0 414473 2896407 2374679 12909611 11278971 -723497 7503324 56507062 58482085 13145506 7617205 43361556 50864880 X A FORWARD-LOOKING, ACADEMICALLY RIGOROUS COLLEGE-PREP SCHOOL WITH A SOUL, ROLLING HILLS PREPARATORY SCHOOL (RHP) WORKS IN PARTNERSHIP WITH PARENTS TO PREPARE STUDENTS FOR LIFELONG SUCCESS IN A GLOBAL 21ST CENTURY USING PROVEN TEACHING TECHNIQUES IN A STIMULATING AND SUPPORTIVE ACADEMIC ENVIRONMENT. AS PART OF RHP'S ONGOING SELF-EVALUATION AND IMPROVEMENT, A GROUP OF TEACHERS, TRUSTEES AND PARENTS HAS APPROVED THE LEARNING EXPECTATIONS FOR STUDENTS, BASED ON THE FOUR PILLARS. EVERY YEAR EACH FACULTY MEMBER FOCUSES ON AT LEAST ONE OF THE FOUR PILLARS, INCORPORATING ITS PHILOSOPHY INTO THAT YEAR'S TEACHING AND EVALUATION. THESE PRINCIPLES ARE NOT JUST ON PAPER, THEY INSPIRE THE HIGH QUALITY TEACHING THAT IS A HALLMARK OF RHP. 0 0 8471231 2191839 7699147 OPERATION OF A CHILDREN'S PREPARATORY SCHOOL FOR 210 STUDENTS, GRADE1-12. THE SCHOOL WORKS WITH FAMILIES AND STUDENTS TO OFFER A RANGE OF ACADEMIC, ART AND ATHLETIC COURSES TO HELP PREPARE COLLEGE-BOUND STUDENTS FOR LIFELONG SUCCESS IN A GLOBAL 21ST CENTURY USING PROVEN TEACHING TECHNIQUES IN A STIMULATING AND SUPPORTIVE ACADEMIC ENVIRONMENT. STUDENTS ARE CHALLENGED BY DEMANDING ACADEMIC COURSES AND SUPPORTED WITHIN A CLOSE KNIT COMMUNITY. BY EMPLOYING A STUDENT/TEACHER RATIO OF LESS THAN 15/1, THE SCHOOL IS ABLE TO ADDRESS THE INDIVIDUAL NEEDS OF EACH STUDENT TO HELP MAXIMIZE HIS OR HER POTENTIAL. 683150 327046 AUXILIARY PROGRAMS INCLUDE SPORTS, OUTDOOR EDUCATION, AFTER SCHOOL PROGRAMS AND OTHER ACADEMIC SUPPORT. THESE EXTRACURRICULAR ACTIVITIES ARE AVAILABLE TO ALL STUDENTS, AND STUDENTS ARE ENCOURAGED TO PARTICIPATE IN THE ACTIVITIES OFFERED BY THE SCHOOL, WHICH INCLUDE, BUT ARE NOT LIMITED TO, PLAYS, MUSICALS AND OTHER ARTISTIC PERFORMANCES; WILDERNESS EDUCATION; AND TEAM SPORTS. 52869 6000 OTHER AUXILIARY PROGRAMS: P.E., TRANSPORTATION, FIELD TRIPS. 9207250 1 1 0 0 0 0 1 0 0 1 1 0 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 18 0 1 134 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X THE ORGANIZATION 3107911101 ONE ROLLING HILLS PREP WAY SAN PEDRO CA 90732 CHLOE BOUTELLE CHAIR 2.00 X X 0 0 0 CHRIS CONNELL VICE CHAIR 2.00 X 0 0 0 BILL JOHNSON TREASURER 2.00 X 0 0 0 MIKE QUARRY SECRETARY 2.00 X 0 0 0 MARI-JO DEUTSCHMAN TRUSTEE 2.00 X 0 0 0 STUART FARBER TRUSTEE 2.00 X 0 0 0 BOB ITZINGER TRUSTEE UNTIL 6/2021 2.00 X 0 0 0 SANDY LEE TRUSTEE UNTIL 5/2021 2.00 X 0 0 0 ED MYERS TRUSTEE 2.00 X 0 0 0 MALINI DAS SANYAL TRUSTEE 2.00 X 0 0 0 JOSH ESQUIBEL TRUSTEE 2.00 X 0 0 0 ARSENIO HERNANDEZ TRUSTEE 2.00 X 0 0 0 ELLEN LAURICELLA TRUSTEE 2.00 X 0 0 0 DAVID MAHER HEAD OF SCHOOL 40.00 X 296976 0 8673 SUZANNE MATHEWS ASSO. HEAD OF SCHOOL FOR ADVANCEMENT 40.00 X 163533 0 7680 CAROL BERNSTEIN ASSO. HEAD OF SCHOOL FOR ENROLLMENT MGMT 40.00 X 142704 0 10311 CHRISTINA MORSE DIRECTOR OF STUDENT LIFE 40.00 X 110863 0 7249 714076 0 33913 4 0 1 0 0 X 42604 1229462 9386732 10658798 TUITION 611600 7574211 7574211 AUXILIARY PROGRAMS 611600 327046 327046 FINANCE CHARGES AND LATE FEES 611600 65544 65544 STUDENT FEE REVENUE 611600 33475 33475 STUDENT ACTIVITIES 611600 13167 13167 18750 18750 8032193 14 14 31400 11756 19644 19644 19644 24200 42604 24200 0 MISCELLANEOUS 900099 71646 71646 71646 18782295 8032193 0 91304 2191839 2191839 323988 129595 161994 32399 5415277 4461817 698896 254564 157993 126394 23699 7900 393895 315116 59084 19695 421300 337040 63195 21065 683946 338316 332985 12645 59571 59571 46964 37571 7045 2348 286798 229438 43020 14340 52869 52869 3264 3104 145 15 176479 141183 26472 8824 505933 404747 75890 25296 72133 57706 10820 3607 DUES & SUBSCRIPTIONS 120532 97576 17217 5739 OTHER OPERATING EXPENSE 100825 19078 80586 1161 COMPUTER AND TEXTBOOK P 78943 69116 7370 2457 REPAIRS & MAINTENANCE 45544 36435 6831 2278 140878 98739 41999 140 11278971 9207250 1657248 414473 712947 2900139 118134 44292 387658 193229 2349853 2681742 50685 104112 59274465 6715894 52887785 52558571 56507062 58482085 288918 429850 5457123 5787300 329707 0 5690296 0 1379462 1400055 13145506 7617205 X 32813063 41920633 10548493 8944247 43361556 50864880 56507062 58482085 7503324 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 3 8.57 0 1 1 0.00 0 63215 522 63737 63300 165 250 63215 114301 51001 63300 116099 202 2000 114301 115893 206 116099 1.00000 0 0 40752500 40752500 7037186 2100713 4936473 1423100 1220118 202982 10061679 3395063 6666616 52558571 PPP LOAN 1250055 EIDL LOAN 150000 1400055 X 16602212 11756 11756 16590456 2191839 2191839 18782295 9098888 11756 11756 9087132 2191839 2191839 11278971 PART II, LINE 9: NO IMPACT ON THE FINANCIAL STATEMENTS. PART V, LINE 4: SMALL ENDOWMENTS ARE MAINTAINED TO SUPPORT PROFESSIONAL DEVELOPMENT AND ACADEMIC AWARDS FOR ENGLISH AND HISTORY. PART X, LINE 2: FIN 48: THE SCHOOL RECOGNIZES THE FINANCIAL STATEMENT BENEFIT OF TAX POSITIONS, SUCH AS ITS FILING STATUS OF TAX EXEMPT, ONLY AFTER DETERMINING THAT THE RELEVANT TAX AUTHORITY WOULD MORE LIKELY THAN NOT SUSTAIN THE POSITION FOLLOWING AN AUDIT. THE SCHOOL IS SUBJECT TO POTENTIAL INCOME TAX AUDITS ON OPEN TAX YEARS BY ANY TAXING JURISDICTION IN WHICH IT OPERATES. THE STATUTE OF LIMITATIONS FOR FEDERAL AND CALIFORNIA STATE PURPOSES IS GENERALLY THREE AND FOUR YEARS, RESPECTIVELY. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 11,756. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS 2,191,839. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 11,756. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS 2,191,839. FORM 990, PART X, LINE 25: PPP LOAN & EIDL LOAN PAYABLE PAYCHECK PROTECTION PROGRAM LOAN PAYABLE IN JANUARY 2021, THE SBA ANNOUNCED A SECOND DRAW OF PPP LOANS FOR ELIGIBLE ENTITIES. IN FEBRUARY 2021, THE SCHOOL WAS APPROVED TO RECEIVE $1,250,055 OF PPP FUNDS. PER THE TERMS OF THE LOAN, THE FULL AMOUNT WILL BE FORGIVEN AS LONG AS LOAN PROCEEDS ARE USED TO COVER PAYROLL COSTS AND OTHER SPECIFIED NONPAYROLL COSTS (PROVIDED ANY NONPAYROLL COSTS DO NOT EXCEED 40% OF THE FORGIVEN AMOUNT) OVER A 24-WEEK PERIOD AFTER THE LOAN IS MADE; AND EMPLOYEE AND COMPENSATION LEVELS ARE MAINTAINED. THE SCHOOL INTENDS TO COMPLY WITH THE ABOVE TERMS IN ORDER TO QUALIFY FOR FULL OR PARTIAL LOAN FORGIVENESS. TO THE EXTENT IT IS NOT FORGIVEN, THE SCHOOL WOULD BE REQUIRED TO REPAY THAT PORTION AT AN INTEREST RATE OF 1% OVER A PERIOD OF FIVE YEARS, WITH A FINAL INSTALLMENT ESTIMATED BY FEBRUARY 2026. IN SEPTEMBER 2021, THE SCHOOL RECEIVED NOTIFICATION FROM THE SBA THAT THE LOAN WAS FORGIVEN IN FULL. ECONOMIC INJURY DISASTER LOAN PAYABLE IN JUNE 2020, THE SCHOOL RECEIVED AN ECONOMIC INJURY DISASTER LOAN (EIDL) UNDER THE SBAS ASSISTANCE PROGRAM IN LIGHT OF THE IMPACT OF THE COVID-19 PANDEMIC. PURSUANT TO THE EIDL AGREEMENT, THE SCHOOL RECEIVED AN ADVANCE OF $150,000 TO BE USED FOR WORKING CAPITAL PURPOSES ONLY. PURSUANT TO THE EIDL AGREEMENT, THE SCHOOL EXECUTED; (I) A NOTE FOR THE BENEFIT OF THE SBA, WHICH CONTAINS CUSTOMARY EVENTS OF DEFAULT; AND (II) A SECURITY AGREEMENT, GRANTING THE SBA A SECURITY INTEREST IN ALL TANGIBLE AND INTANGIBLE PERSONAL PROPERTY OF THE SCHOOL, WHICH ALSO CONTAINS CUSTOMARY EVENTS OF DEFAULT. THE EIDL BEARS AN INTEREST RATE OF 2.75% PER ANNUM WHICH ACCRUES FROM THE DATE OF THE ADVANCE. INSTALLMENT PAYMENTS, INCLUDING PRINCIPAL AND INTEREST, ARE DUE MONTHLY BEGINNING JUNE 2022. THE BALANCE OF PRINCIPAL AND INTEREST IS PAYABLE THIRTY YEARS FROM THE DATE OF THE EIDL AGREEMENT. AS OF THE ISSUANCE OF THESE FINANCIAL STATEMENTS, THE SCHOOL HAS NOT MADE ANY PAYMENTS ON THE BALANCE. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 POLICY IS PUBLISHED IN REGIONAL NEWSPAPER AND ON THE SCHOOL'S WEBSITE. IT IS PART OF THE ADMISSION COMMUNICATION MATERIAL INCLUDING, BUT NOT LIMITED TO, BROCHURES THAT ARE PROVIDED TO STUDENTS AND PARENTS. GALA 66804 42604 24200 2236 13830 8134 66804 42604 24200 2236 13830 8134 24200 0 1 FINANCIAL AID & SCHOLARSHIPS 97 2191839 PART I, LINE 2: FAMILIES SUBMIT APPLICATIONS WITH FINANCIAL INFORMATION TO STUDENT SUPPORT SERVICES (SSS) FOR EVALUATION. BASED ON THE RESULTS GATHERED FROM SSS, SCHOOL FINANCIAL AID COMMITTEE DETERMINES THE AMOUNT OF AID TO BE AWARDED TO THE FAMILY. AWARDS ARE BASED MOSTLY OFF OF FINANCIAL NEED, BUT ALSO ACADEMIC MERIT. THE SCHOOL USES THE FINANCIAL AID TO OFFSET TUITION EXPENSES FOR ITS STUDENTS. AMOUNTS AWARDED TO STUDENTS AUTOMATICALLY OFFSET THEIR TUITION EXPENSES AND REDUCE THE AMOUNT BILLED TO THE STUDENT. X 1 0 X X X 0 0 0 0 0 0 0 0 0 DAVID MAHER HEAD OF SCHOOL 266976 0 0 0 30000 0 0 0 8673 0 305649 0 0 0 SUZANNE MATHEWS ASSO. HEAD OF SCHOOL FOR ADVANCEMENT 163533 0 0 0 0 0 0 0 7680 0 171213 0 0 0 CAROL BERNSTEIN ASSO. HEAD OF SCHOOL FOR ENROLLMENT 142704 0 0 0 0 0 0 0 10311 0 153015 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE IS NEGOTIATED AS A PART OF THE HEAD OF SCHOOL'S COMPENSATION. THE TOTAL COMPENSATION IS APPROVED BY THE FINANCE COMMITTEE AND THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B DESCRIBE THE PROCESS THE ORGANIZATION USES TO REVIEW FORM 990. THE COMPLETED FORM 990 WILL BE PROVIDED TO THE FINANCE COMMITTEE SUFFICIENTLY IN ADVANCE OF THE FILING DEADLINE TO ENABLE A DETAILED AND CONSCIENTIOUS REVIEW BY ALL MEMBERS OF THE COMMITTEE. THE TAX PREPARERS WILL ELECTRONICALLY DELIVER THE TAX RETURN TO THE COMMITTEE AND ANY CONCERNS OF THE FINANCE COMMITTEE WILL BE ADDRESSED AND CHANGES WILL BE MADE ACCORDINGLY. AFTER ALL CHANGES AND ISSUES ARE ADDRESSED, THE FINAL FORM 990 WILL BE PROVIDED TO ALL BOARD MEMBERS BEFORE THE OFFICER SIGNS AND FILES THE RETURN WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C DESCRIBE THE PROCESS USED TO MONITOR AND ENFORCE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. EACH TRUSTEE, OFFICER, AND MEMBER OF A COMMITTEE WITH POWERS DELEGATED BY THE GOVERNING BOARD, AS WELL AS MEMBERS OF ADMINISTRATION SHALL ANNUALLY SIGN A STATEMENT THAT AFFIRMS SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY, AND UNDERSTANDS THE SCHOOL IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION, IT MUST ENGAGE PRIMARILY IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. IF THE POLICY IS VIOLATED APPROPRIATE ACTION WILL BE TAKEN, INCLUDING REMOVAL FROM THE BOARD OF DIRECTORS, IF NECESSARY. FORM 990, PART VI, SECTION B, LINE 15 DESCRIBE THE PROCESS USED TO DETERMINE COMPENSATION OF THE ORGANIZATION'S OFFICERS OR KEY EMPLOYEES. COMPENSATION IS DETERMINED BY THE FINANCE COMMITTEE. OFFICER AND KEY EMPLOYEE COMPENSATION IS DETERMINED THROUGH EMPLOYEE CONTRACTS, COMPENSATION SURVEYS, AND APPROVAL BY THE BOARD. THE BOARD CHAIR WORKS CLOSELY WITH THE HEAD OF THE SCHOOL TO SET AND ADJUST GOALS FOR EACH CONTRACT PERIOD. THE TWO MEET MONTHLY TO DISCUSS PROGRESS AND KEEP THE CHAIR UP TO DATE ON ITEMS OF IMPORTANCE THAT ARE HAPPENING AT THE SCHOOL. TOWARDS THE END OF EACH CONTRACT PERIOD, THE CHAIR AND HEAD OF SCHOOL EVALUATE PROGRESS MORE FORMALLY AND SET GOALS FOR THE UPCOMING CONTRACT. THE CHAIR REPORTS TO THE FINANCE COMMITTEE WHO REPORTS TO THE FULL BOARD PRIOR TO THE HEAD OF THE SCHOOL'S CONTRACT RENEWAL. CURRENTLY, THIS IS A THREE-YEAR CONTRACT CYCLE. THE HEAD OF THE SCHOOL'S COMPENSATION IS SET INDEPENDENTLY BY THE FINANCE COMMITTEE BASED ON PERFORMANCE RESULTS AND BY USING NAIS AND CAIS COMPENSATION STATISTICS. THE FINANCE COMMITTEE RECOMMENDS THE COMPENSATION PACKAGE TO THE BOARD WHO HAS THE ULTIMATE APPROVAL. THE APPROVAL IS MADE INDEPENDENTLY. THIS PROCESS TAKES PLACE EVERY THREE YEARS. THE LAST DATE WAS JUNE 2020. COMPENSATION FOR THE TOP FINANCIAL EMPLOYEE AND ANY KEY EMPLOYEES IS DETERMINED ANNUALLY. THE HEAD OF THE SCHOOL WORKS CLOSELY WITH THE CONTROLLER TO SET GOALS FOR EACH YEAR AND REVIEWS THE PROGRESS ON THOSE GOALS BEFORE THE END OF EACH CONTRACT YEAR. SHORTLY BEFORE THE NEW CONTRACT IS OFFERED, THE HEAD OF THE SCHOOL DOES A FORMAL REVIEW OF THE PROGRESS AND PERFORMANCE FROM THE PREVIOUS CONTRACT YEAR AND SETS GOALS FOR THE UPCOMING YEAR. THE ANNUAL COMPENSATION ADJUSTMENT IS SET AT A FIXED PERCENTAGE BY THE HEAD OF THE SCHOOL. ANNUAL SALARY RATE ADJUSTMENT ACROSS THE ORGANIZATION IS RECOMMENDED BY THE HEAD OF THE SCHOOL AND APPROVED INDEPENDENTLY BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 DESCRIBE HOW THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. THE FORM 990, THE FORM 1023, AND THE DETERMINATION LETTER ARE AVAILABLE UPON WRITTEN OR VERBAL REQUEST TO ANYONE WHO INQUIRES TO THE ORGANIZATION. GOVERNING DOCUMENTS ARE ALSO AVAILABLE AT THE ORGANIZATION'S OFFICE. FORM 990, PART VIII, LINE 1E: PPP LOAN ADVANCE FORGIVENESS IN MARCH 2020, CONGRESS PASSED THE PAYCHECK PROTECTION PROGRAM (PPP), AUTHORIZING LOANS TO SMALL BUSINESSES FOR USE IN PAYING EMPLOYEES THAT THEY CONTINUE TO EMPLOY THROUGHOUT THE COVID-19 PANDEMIC AND FOR RENT, UTILITIES AND INTEREST ON MORTGAGES. IN APRIL 2020, THE SCHOOL SUCCESSFULLY SECURED A $1,229,462 SMALL BUSINESS ADMINISTRATION (SBA) LOAN UNDER THE PPP. PER THE TERMS OF THE LOAN, THE FULL AMOUNT WILL BE FORGIVEN AS LONG AS LOAN PROCEEDS ARE USED TO COVER PAYROLL COSTS AND OTHER SPECIFIED NONPAYROLL COSTS (PROVIDED ANY NONPAYROLL COSTS DO NOT EXCEED 40% OF THE FORGIVEN AMOUNT) OVER A 24-WEEK PERIOD AFTER THE LOAN IS MADE; AND EMPLOYEE AND COMPENSATION LEVELS ARE MAINTAINED. FORGIVENESS OF THE FULL PRINCIPAL AND INTEREST WAS GRANTED BY THE SBA IN JUNE 2021. THE SCHOOL RECOGNIZED PPP LOAN FORGIVENESS ON THE ACCOMPANYING STATEMENT OF ACTIVITIES OF $1,229,462 FOR THE YEAR ENDED JUNE 30, 2021.