LAKE TECHNICAL COLLEGE INC: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- LAKE TECHNICAL COLLEGE INC (EIN 20-0940772)
- Tax period
- 2020-07-01 to 2021-06-30
- Filed
- 2022-03-29
- IRS object ID
- 202210889349300056
- Schema version
- 2020v4.2
- 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2022-03-29T07:38:31-05:00 | ReturnTs |
| Tax Period End | 2021-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 593023516 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BKHM PA | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1560 ORANGE AVENUE SUITE 600 | AddressLine1Txt |
| City | WINTER PARK | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 32789 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 200940772 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LAKE TECHNICAL COLLEGE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | LAKE | BusinessNameControlTxt |
| Phone | 3525892250 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2001 KURT STREET | AddressLine1Txt |
| City | EUSTIS | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 32726 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | RICHARD D KEITH | PersonNm |
| Person Title | CHAIRMAN OF THE BOARD | PersonTitleTxt |
| Phone | 3525892250 | PhoneNum |
| Signature | 2022-03-29 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | RICHARD | PersonFirstNm |
| Person Last | KEITH | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | GEORGE K MCNEMAR | PreparerPersonNm |
| PTIN | P01775038 | PTIN |
| Phone | 4079989000 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | RICHARD D KEITH | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2001 KURT STREET | AddressLine1Txt |
| City | EUSTIS | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 32726 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $18,361,089 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.LAKETECH.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2004 | FormationYr |
| Legal Domicile State | FL | LegalDomicileStateCd |
| Activity Or Mission | TO MEET THE EDUCATIONAL NEEDS OF THE COMMUNITY BY OFFERING CAREER-TECHNICAL TRAINING OPPORTUNITIES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 80 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $3,059,081 | PYContributionsGrantsAmt |
| CY Contributions Grants | $7,990,541 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $8,715,249 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $9,935,391 | CYProgramServiceRevenueAmt |
| PY Investment Income | $102,416 | PYInvestmentIncomeAmt |
| CY Investment Income | $20,861 | CYInvestmentIncomeAmt |
| PY Other Revenue | $294,943 | PYOtherRevenueAmt |
| CY Other Revenue | $306,375 | CYOtherRevenueAmt |
| PY Total Revenue | $12,171,689 | PYTotalRevenueAmt |
| CY Total Revenue | $18,253,168 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $1,607,148 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $1,837,745 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $6,981,071 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $7,934,165 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $3,085,576 | PYOtherExpensesAmt |
| CY Other Expenses | $7,881,003 | CYOtherExpensesAmt |
| PY Total Expenses | $11,673,795 | PYTotalExpensesAmt |
| CY Total Expenses | $17,652,913 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $497,894 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $600,255 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $15,710,396 | TotalAssetsBOYAmt |
| Total Assets EOY | $17,510,446 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $6,064,666 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $6,947,663 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $9,645,730 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $10,562,783 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO MEET THE EDUCATIONAL NEEDS OF THE COMMUNITY BY OFFERING A VARIETY OF HIGH QUALITY VOCATIONAL AND TECHNICAL TRAINING OPPORTUNITIES FOR HIGH SCHOOL AND ADULT STUDENTS. THE COLLEGE IS A POST SECONDARY TECHNICAL COLLEGE. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $16,996,346 | ExpenseAmt |
| Grant | $1,837,745 | GrantAmt |
| Revenue | $10,241,766 | RevenueAmt |
| Desc | CURRICULUM AND PROGRAM DESIGN REFLECT THE NEEDS AND STANDARDS OF THE RESPECTIVE INDUSTRY. INSTRUCTION IS LARGELY INDIVIDUALIZED, WHICH ALLOWS STUDENTS TO PROGRESS BASED ON THEIR ABILITIES. INDIVIDUALIZED SPECIAL ACCOMMODATION AND REMEDIATION IS A STANDARD PRACTICE FOR STUDENTS WHO REQUIRE ASSISTANCE. THE SCHOOL SERVED AN AVERAGE OF 1,784 STUDENTS DURING THE FISCAL YEAR ENDED JUNE 30, 2021. | Desc |
| Total Program Service Expenses | $16,996,346 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 20 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 80 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Form1098 C Filed | Yes (1) | Form1098CFiledInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LORRAINE FOSTER | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3525892250 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2001 KURT STREET | AddressLine1Txt |
| City | EUSTIS | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 32726 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| RICHARD D KEITH | ||||||
| CHAIRMAN OF THE BOARD | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| ISAAC DEAS II | ||||||
| VICE-PRESIDENT | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| LANA PAYNE | ||||||
| SECRETARY | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| LORRAINE FOSTER | ||||||
| TREASURER | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| DAVE STEELE | ||||||
| BOARD MEMBER | 0.50 | Yes (X) | $0 | $0 | $0 | |
| FRED COBB | ||||||
| BOARD MEMBER | 0.50 | Yes (X) | $0 | $0 | $0 | |
| CA VOSSBERG | ||||||
| BOARD MEMBER | 0.50 | Yes (X) | $0 | $0 | $0 | |
| JUDY BEDA | ||||||
| BOARD MEMBER | 0.50 | Yes (X) | $0 | $0 | $0 | |
| MICKEY GAULDIN | ||||||
| BOARD MEMBER | 0.50 | Yes (X) | $0 | $0 | $0 | |
| TIM MORRIS | ||||||
| BOARD MEMBER | 0.50 | Yes (X) | $0 | $0 | $0 | |
| GERALD COBB | ||||||
| BOARD MEMBER | 0.50 | Yes (X) | $0 | $0 | $0 | |
| DIANE CULPEPPER | ||||||
| EXECUTIVE DIRECTOR | 40.00 | Yes (X) | $114,907 | $0 | $28,222 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $114,907 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $28,222 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 1 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $7,947,689 | GovernmentGrantsAmt |
| All Other Contributions | $42,852 | AllOtherContributionsAmt |
| Total Contributions | $7,990,541 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| WORKFORCE DEVELOPMENT | 900099 | $4,755,613 | $4,755,613 |
| TUITION AND OTHER FEES | 900099 | $3,158,577 | $3,158,577 |
| SCHOLARSHIPS | 900099 | $1,370,679 | $1,370,679 |
| PERFORMANCE BASED INCENTIVES | 900099 | $333,000 | $333,000 |
| FEFP | 900099 | $183,749 | $183,749 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $133,773 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $133,773 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $9,935,391 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $20,861 | TotalRevenueColumnAmt |
| Exclusion | $20,861 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $254,711 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $107,921 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $146,790 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $146,790 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANEOUS INCOME | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $159,585 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $159,585 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $159,585 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $18,253,168 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $10,241,766 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $20,861 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,837,745 | TotalAmt |
| Program Services | $1,837,745 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $143,129 | TotalAmt |
| Program Services | $135,641 | ProgramServicesAmt |
| Management And General | $7,488 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,630,146 | TotalAmt |
| Program Services | $5,332,844 | ProgramServicesAmt |
| Management And General | $297,302 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,255,693 | TotalAmt |
| Program Services | $1,174,632 | ProgramServicesAmt |
| Management And General | $81,061 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $593,656 | TotalAmt |
| Program Services | $558,930 | ProgramServicesAmt |
| Management And General | $34,726 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $311,541 | TotalAmt |
| Program Services | $292,154 | ProgramServicesAmt |
| Management And General | $19,387 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $63,518 | TotalAmt |
| Program Services | $31,759 | ProgramServicesAmt |
| Management And General | $31,759 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $128,043 | TotalAmt |
| Program Services | $116,763 | ProgramServicesAmt |
| Management And General | $11,280 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,078,305 | TotalAmt |
| Program Services | $1,075,889 | ProgramServicesAmt |
| Management And General | $2,416 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $351,302 | TotalAmt |
| Program Services | $318,717 | ProgramServicesAmt |
| Management And General | $32,585 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,108 | TotalAmt |
| Program Services | $6,220 | ProgramServicesAmt |
| Management And General | $888 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $322,224 | TotalAmt |
| Program Services | $320,434 | ProgramServicesAmt |
| Management And General | $1,790 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $99,760 | TotalAmt |
| Program Services | $39,067 | ProgramServicesAmt |
| Management And General | $60,693 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| NON-CAPITALIZABLE SUPPL | $2,984,533 | $2,962,745 | $21,788 |
| MISCELLANEOUS EXPENSES | $1,593,139 | $1,586,760 | $6,379 |
| TECHNOLOGY- RELATED REN | $619,770 | $617,063 | $2,707 |
| DUES AND FEES | $231,038 | $223,074 | $7,964 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $402,263 | TotalAmt |
| Program Services | $365,909 | ProgramServicesAmt |
| Management And General | $36,354 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,652,913 | TotalAmt |
| Program Services | $16,996,346 | ProgramServicesAmt |
| Management And General | $656,567 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,760,300 | BOYAmt |
| EOY | $7,210,130 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,645,946 | BOYAmt |
| EOY | $1,655,225 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $202,885 | BOYAmt |
| EOY | $390,557 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $914 | BOYAmt |
| EOY | $914 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $7,855,886 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $1,159,011 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,848,985 | BOYAmt |
| EOY | $6,696,875 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,251,366 | BOYAmt |
| EOY | $1,556,745 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,710,396 | BOYAmt |
| EOY | $17,510,446 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $109,387 | BOYAmt |
| EOY | $177,956 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,445 | BOYAmt |
| EOY | $37,107 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,918,834 | BOYAmt |
| EOY | $6,732,600 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,064,666 | BOYAmt |
| EOY | $6,947,663 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,176,604 | BOYAmt |
| EOY | $9,014,573 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,469,126 | BOYAmt |
| EOY | $1,548,210 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,645,730 | BOYAmt |
| EOY | $10,562,783 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,710,396 | BOYAmt |
| EOY | $17,510,446 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $600,255 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $316,798 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $22,000 | OtherCostOrOtherBasisAmt |
| Book Value | $22,000 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,175,737 | OtherCostOrOtherBasisAmt |
| Depreciation | $477,852 | DepreciationAmt |
| Book Value | $4,697,885 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,080,795 | OtherCostOrOtherBasisAmt |
| Depreciation | $466,631 | DepreciationAmt |
| Book Value | $1,614,164 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $577,354 | OtherCostOrOtherBasisAmt |
| Depreciation | $214,528 | DepreciationAmt |
| Book Value | $362,826 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $6,696,875 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (3 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| FRS DEFERRED OUTFLOW | $1,238,298 |
| HIS DEFERRED OUTFLOW | $281,461 |
| OPEB DEFERRED OUTFLOW | $36,986 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $1,556,745 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (8 entries)
| DescDesc | AmtAmt |
|---|---|
| DUE TO DISTRICT | $834,633 |
| COMPENSATED ABSENCES PAYABLE | $710,971 |
| PENSION DEFERRED INFLOWS | $87,300 |
| FRS PENSION LIABILITY | $3,279,753 |
| HIS PENSION LIABILITY | $1,343,057 |
| OPEB LIABILITY | $297,177 |
| OPEB DEFERRED OUTLFOWS | $58,203 |
| HIS DEFERRED INFLOW | $121,506 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $6,732,600 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $17,012,926 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $173,289 | OtherRevenueAmt |
| Revenue Not Reported | $173,289 | RevenueNotReportedAmt |
| Revenue Subtotal | $16,839,637 | RevenueSubtotalAmt |
| Other Revenues Not Included | $1,413,531 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $1,413,531 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $18,253,168 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $16,412,670 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $173,289 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $173,289 | ExpensesNotReportedAmt |
| Expenses Subtotal | $16,239,381 | ExpensesSubtotalAmt |
| Other Expenses Not Included | $1,413,531 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $1,413,531 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $17,652,912 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE SCHOOL IS AN ORGANIZATION EXEMPT FROM INCOME TAXATION UNDER SECTION 501(A) AS AN ENTITY DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. ACCORDINGLY, NO PROVISION FOR FEDERAL INCOME TAXES IS INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE SCHOOL HAS ADOPTED GUIDANCE RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION THAT AN ENTITY TAKES OR EXPECTS TO TAKE IN A TAX RETURN. THIS GUIDANCE IS APPLICABLE TO NOT-FOR-PROFIT ORGANIZATIONS THAT MAY BE CONDUCTING UNRELATED BUSINESS ACTIVITIES, WHICH ARE POTENTIALLY SUBJECT TO INCOME TAXES, INCLUDING STATE INCOME TAXES. THE SCHOOL ASSESSES ITS INCOME TAX POSITIONS, INCLUDING ITS CONTINUING TAX STATUS AS A NOT-FOR-PROFIT ENTITY, AND RECOGNIZES TAX BENEFITS ONLY TO THE EXTENT THAT THE SCHOOL BELIEVES IT IS "MORE LIKELY THAN NOT" THAT ITS TAX POSITIONS WILL BE SUSTAINED UPON AN EXAMINATION BY THE INTERNAL REVENUE SERVICE ("IRS") OR THE APPLICABLE STATE TAXING AUTHORITY. ACCORDINGLY, THERE IS NO PROVISION FOR FEDERAL INCOME TAXES IN THE SCHOOL'S FINANCIAL STATEMENTS, AS THE SCHOOL BELIEVES ALL TAX POSITIONS, INCLUDING ITS CONTINUING STATUS AS A NOT-FOR-PROFIT ENTITY, HAVE A GREATER THAN 50% CHANCE OF REALIZATION IN THE EVENT OF AN IRS AUDIT. STATE INCOME TAXES, WHICH MAY BE DUE IN CERTAIN JURISDICTIONS, HAVE BEEN ASSESSED FOLLOWING THE SAME "MORE LIKELY THAN NOT" MEASUREMENT THRESHOLD. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | PASSTHROUGH ADMIN FEES 65,368. COST OF BOOKSTORE SALES 107,921. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIPS 1,370,679. CONTRIBUTIONS 42,852. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | PASSTHROUGH ADMIN FEES 65,368. COST OF BOOKSTORE SALES 107,921. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIPS 1,370,679. CONTRIBUTIONS 42,852. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (1) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE E, PART I, LINE 3 | THE ORGANIZATION PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY THROUGH BROCHURES, NEWSLETTERS, LOCAL NEIGHBORHOOD EVENTS, NEWSPAPERS, OPEN HOUSES, WEBSITES AND/OR VIDEOS. |
| SCHEDULE E, PART I, LINE 6 | REVENUES ARE RECEIVED FROM THE FLORIDA DEPARTMENT OF EDUCATION UNDER THE FLORIDA EDUCATION FINANCE PROGRAM AND THE WORKFORCE DEVELOPMENT PROGRAM. THE MAJORITY OF THE SCHOOLS FUNDING IS RECEIVED THROUGH THE WORKFORCE DEVELOPMENT PROGRAM. THE AMOUNTS RECEIVED ARE BASED ON A THREE YEAR AVERAGE OF ENROLLMENT HOURS. THE SCHOOL RECEIVES ADDITIONAL FUNDING FROM THE WORKFORCE DEVELOPMENT PROGRAM THROUGH A PERFORMANCE INCENTIVE FUND WHEN THE STUDENTS OBTAIN SPECIFIC INDUSTRY CERTIFICATIONS. THE SCHOOL ALSO PARTICIPATES IN PELL TITLE IV PROGRAM. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (2 entries)
| Grant TypeGrantTypeTxt | RecipientRecipientCnt | Cash GrantCashGrantAmt |
|---|---|---|
| PELL GRANTS FOR STUDENTS ATTENDING LAKE TECHNICAL COLLEGE, INC. | 453 | $424,214 |
| SCHOLARSHIPS FOR STUDENTS ATTENDING LAKE TECHNICAL COLLEGE, INC. | 1356 | $1,413,531 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | LAKE TECHNICAL COLLEGE, INC. PREPARES ANNUAL BUDGETS AND MONITORS COSTS ON A MONTHLY BASIS. MOST DISBURSEMENTS TO STUDENTS FOR SCHOLARSHIPS ARE DONE BY THE SCHOOL, WITH A SMALL AMOUNT OF STATE-FUNDED SCHOLARSHIPS REIMBURSED BY THE DISTRICT AFTER THE SCHOOL SUBMITS PURCHASE ORDERS AND OTHER REQUIRED DOCUMENTATION. THEREFORE, THERE IS ANOTHER LAYER OF REVIEW AND APPROVAL FOR ALLOWABLE COSTS. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION B, LINE 11B | THE ORGANIZATION WAS PROVIDED A COPY OF FORM 990 FOR THEIR DETAIL REVIEW PRIOR TO FILING. THE EXECUTIVE DIRECTOR, ASSISTANT DIRECTOR OF FINANCE, BUSINESS MANAGER AND THE CHARTER BOARD OF DIRECTORS REVIEW THE RETURN PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE BOARD MEMBERS ARE REQUIRED TO COMPLETE A STATE OF FLORIDA FORM (FORM 8B MEMORANDUM OF VOTING CONFLICT) WHEN A CONFLICT OF INTEREST IS BROUGHT UP AT A BOARD MEETING. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE SALARIES OF ALL EMPLOYEES ARE SET BY THE SCHOOL BOARD OF LAKE COUNTY, AND ANY CHANGE IN COMPENSATION IS SUBJECT TO REVIEW AND APPROVAL BY THE SCHOOL BOARD OF LAKE COUNTY. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. |
| FORM 990, PART XI, LINE 9: | CUSTODIAL - NET ASSETS 316,798. |
| FORM 990, PART I, LINE 5 | THE RELATIONSHIP BETWEEN THE LAKE TECHNICAL COLLEGE AND THE LAKE COUNTY SCHOOL DISTRICT REQUIRES THE EMPLOYEES WORKING AT THE SCHOOL TECHNICALLY BE EMPLOYEES OF THE SCHOOL DISTRICT. AS SUCH, ALL PAYROLL AND PAYROLL RELATED COSTS ARE PROCESSED AND PAID BY THE SCHOOL DISTRICT. THESE EXPENSES ARE THEN REIMBURSED BY THE SCHOOL TO THE SCHOOL DISTRICT ON A DOLLAR FOR DOLLAR BASIS. REIMBURSEMENTS PAID TO THE LAKE COUNTY SCHOOL DISTRICT FOR PAYROLL AND RELATED BENEFITS TOTALED $7,934,165 FOR THE YEAR. THERE ARE APPROXIMATELY 80 EMPLOYEES OF THE LAKE COUNTY SCHOOL DISTRICT WORKING AT THE LAKE TECHNICAL COLLEGE. THIS IS THE REASON THERE ARE ZERO EMPLOYEES OF LAKE TECHNICAL COLLEGE REPORTED ON PART I, LINE 5. |
| FORM 990, PART XI, LINE 9 | ADJUSTMENT ON PART XI LINE 8 DUE TO THE ADOPTION OF GOVERNMENTAL ACCOUNTING STANDARDS BOARD ISSUED STATEMENT NO. 84, FIDUCIARY ACTIVITIES ("GASB 84"). THIS IMPROVES GUIDANCE REGARDING THE IDENTIFICATION OF FIDUCIARY ACTIVITIES FOR ACCOUNTING AND FINANCIAL REPORTING PURPOSES AND HOW THOSE ACTIVITIES SHOULD BE REPORTED. A $316,798 PRIOR PERIOD ADJUSTMENT IS DUE TO THE IDENTIFICATION OF THESE FIDUCIARY ACTIVITIES UNDER THE NEW STANDARD. |
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