2022-05-16T12:27:49-05:00 2021-06-30 340677006 MALONEY NOVOTNY LLC 1111 SUPERIOR AVE SUITE 700 CLEVELAND OH 441142540 990 2020-07-01 346519833 LAKE RIDGE ACADEMY LAKE 4403271175 37501 CENTER RIDGE ROAD NORTH RIDGEVILLE OH 44039 PETER SRSEN CFO 4403271175 2022-05-13 1 PETER SRSEN 999009999 CHRISTOPHER B ANDERSON P00226559 2163630100 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z PETER SRSEN 37501 CENTER RIDGE ROAD NORTH RIDGEVILLE OH 44039 14503385 0 X WWW.LAKERIDGEACADEMY.ORG X 1963 OH OUR MISSION IS TO SEND INTO A CHANGING WORLD CONFIDENT YOUNG PEOPLE OF INTEGRITY WHO THINK CRITICALLY AND CREATIVELY WHILE EMBRACING THE JOY OF LIFELONG LEARNING. 21 21 125 75 0 0 1153595 2387532 11467024 11557840 79539 93717 241649 392796 12941807 14431885 4981526 5154054 0 0 6251674 6193021 0 0 796020 2374261 2477231 13607461 13824306 -665654 607579 14650196 14038501 12619667 10666330 2030529 3372171 OUR MISSION IS TO SEND INTO A CHANGING WORLD CONFIDENT YOUNG PEOPLE OF INTEGRITY WHO THINK CRITICALLY AND CREATIVELY WHILE EMBRACING THE JOY OF LIFELONG LEARNING. 0 0 12015964 5154054 11557840 THE ACADEMY, FOUNDED IN 1963, IS AN INDEPENDENT CO-EDUCATIONAL COLLEGE PREPARATORY SCHOOL FOR APPROXIMATELY 420 STUDENTS IN GRADES KINDERGARTEN THROUGH TWELVE. 12015964 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 80 0 1 125 0 0 0 0 0 0 0 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 OH X PETER SRSEN 4403271175 37501 CENTER RIDGE ROAD NORTH RIDGEVILLE OH 44039 THOMAS DRESING CHAIR 1.00 X X 0 0 0 BENJAMIN NORTON VICE CHAIR 1.00 X X 0 0 0 ANDREA MANNING SECRETARY 1.00 X X 0 0 0 LAURIE GATTEN TREASURER 1.00 X X 0 0 0 JOHN DOOLOS BOARD MEMBER 1.00 X 0 0 0 TOM DAKE BOARD MEMBER 1.00 X 0 0 0 AMELIA FARAGO BOARD MEMBER 1.00 X 0 0 0 COLE FAUVER BOARD MEMBER 1.00 X 0 0 0 JEFF KNAPP BOARD MEMBER 1.00 X 0 0 0 PAULA JANMEY BOARD MEMBER 1.00 X 0 0 0 DONALD KAATZ BOARD MEMBER 1.00 X 0 0 0 BRIAN SHIMKO BOARD MEMBER 1.00 X 0 0 0 JENNIFER LAGASSE BOARD MEMBER 1.00 X 0 0 0 ALBERT CHAN BOARD MEMBER 1.00 X 0 0 0 PATRICK HARRINGTON BOARD MEMBER 1.00 X 0 0 0 BRIDGET MORENO BOARD MEMBER 1.00 X 0 0 0 JOE RAJ BOARD MEMBER 1.00 X 0 0 0 JONATHAN HYMAN BOARD MEMBER 1.00 X 0 0 0 JOSEPH MICLAT BOARD MEMBER 1.00 X 0 0 0 YUMI IJIRI BOARD MEMBER 1.00 X 0 0 0 JULIE LATKOVIC BOARD MEMBER 1.00 X 0 0 0 MITCH WHITE HEAD OF SCHOOL 40.00 X 203622 0 24384 PETER SRSEN C.F.O. 40.00 X 126400 0 3137 MICHELLE ROBERTSON DIRECTOR OF DEVELOPMENT 40.00 X 128904 0 16802 458926 0 44323 3 0 1 0 0 1737973 649559 31664 2387532 STUDENT TUITION 900099 11270554 11270554 MISCELLANEOUS 900099 148836 148836 TRANSPORTATION FEE 900099 108530 108530 EXTENDED DAY PROGRAM 900099 14322 14322 SUMMER SCHOOL PROGRAM 900099 8830 8830 6768 6768 11557840 93717 93717 20831 0 20831 20831 20831 443465 71500 371965 371965 14431885 11557840 0 486513 5154054 5154054 357543 300542 57001 4661903 3953296 235614 472993 78038 67193 3011 7834 707965 624687 34924 48354 387572 311421 36533 39618 64973 64973 24450 24450 20489 20489 153145 86423 66722 68512 68280 232 405300 364770 32424 8106 19994 19914 80 300839 270755 24067 6017 653839 588455 52307 13077 104632 94169 8371 2092 INSTRUCTIONAL 532702 532702 FUNDRAISING 73894 73894 TRANSPORTATION 54462 54462 13824306 12015964 1012322 796020 1280363 239843 178711 157612 216966 176221 91049 83340 23893937 14027271 10258538 9866666 2030425 2765613 594144 749206 14650196 14038501 714332 782493 3486539 3883065 320000 320000 6007590 5091440 1178200 0 913006 589332 12619667 10666330 X -1467342 -503289 3497871 3875460 2030529 3372171 14650196 14038501 X 607579 471005 263058 X 0 1 X 1 0 X 1670149 1604298 1357677 1153595 2387532 8173251 1670149 1604298 1357677 1153595 2387532 8173251 1639740 6533511 64760 98747 102427 100206 114549 480689 456465 363949 434971 302281 443465 2001131 10655071 55268001 0.61320 0.63600 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SPECEVENT REVENUE - 2016 AMOUNT: $ 456,465. 2017 AMOUNT: $ 363,949. 2018 AMOUNT: $ 434,971. 2019 AMOUNT: $ 302,281. 2020 AMOUNT: $ 443,465. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2030425 695250 409660 369722 2765613 1921920 146128 57606 95229 2030425 1761403 169627 78527 87637 1921920 1574871 186532 101418 101418 1761403 1240676 334195 133011 133011 1574871 0.01000 0.98000 0.01000 0 0 1455587 1455587 17212987 9729526 7483461 4105248 3522819 582429 1120115 774926 345189 9866666 BENEFICIAL INTEREST & CHARITABLE TRUST 749206 749206 CAPITAL LEASE OBLIGATIONS 162207 INTEREST RATE SWAP LIABILITY 427125 589332 10898110 471005 263058 734063 10164047 4267838 4267838 14431885 9556468 0 9556468 4267838 4267838 13824306 PART V, LINE 4: INTENDED USE OF ENDOWMENT FUNDS - THE ACADEMY'S ENDOWMENT FUNDS ARE USED FOR GENERAL OPERATIONS, SCHOLARSHIPS, FACULTY ENRICHMENT, AND THE COMMUNITY RESOURCE CENTER. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN INTEREST RATE SWAP 263,058. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID TO STUDENTS, WHICH WAS SHOWN AS A REDUCTION OF REVENUE ON THE FINANCIAL STATEMENTS BUT AS AN EXPENSE ON FORM 990 4,267,838. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID TO STUDENTS, WHICH WAS SHOWN AS A REDUCTION OF REVENUE ON THE FINANCIAL STATEMENTS BUT AS AN EXPENSE ON FORM 990 4,267,838. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE ACADEMY PUBLISHES NOTICES OF ITS NONDISCRIMINATION POLICIES IN ALL DAILY AND WEEKLY SUBURBAN NEWSPAPERS. SCHEDULE E, PART I, LINE 6 AID FROM A GOVERNMENTAL AGENCY - THE ACADEMY RECEIVED FUNDS AND REIMBURSEMENTS FROM THE STATE OF OHIO. THESE FUNDS WERE EXPENDED FOR SUPPLIES, SERVICES, EQUIPMENT AND CAPITAL ITEMS. AUCTION 342688 342688 8500 12272 GOLF OUTINGS 100777 100777 44256 6472 443465 443465 8500 44256 18744 71500 371965 1 STUDENT FINANCIAL AID 301 4267838 STUDENT TUITION REMISSION 43 886216 PART I, LINE 2: MONITORING USE OF GRANT FUNDS - THE ACADEMY ENSURES THAT ITS GRANTS ARE USED FOR EDUCATIONAL PURPOSES BY CREDITING THE FINANCIAL AID AMOUNTS DIRECTLY TO THE STUDENTS' ACCOUNTS INSTEAD OF ISSUING CHECKS. 0 0 0 0 0 0 0 0 0 MITCH WHITE HEAD OF SCHOOL 203622 0 0 0 0 0 4284 0 20100 0 228006 0 0 0 DON KAATZ BOARD MEMBER PURCHASE OF PROPERTY X 320000 320000 0 1 1 320000 SHELBY WHITE FAMILY RELATIONSHIP WITH HEAD OF SCHOOL 17852 EMPLOYED AS TEACHER 0 X 8 31664 FAIR VALUE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B REVIEW OF FORM 990 - THE BOARD OF DIRECTORS DELEGATED THE AUTHORITY TO REVIEW AND APPROVE FORM 990 TO THE FINANCE COMMITTEE. THE FINANCE COMMITTEE REVIEWED THE TAX RETURN AT A MEETING PRIOR TO THE FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 PROVIDED TO GOVERNING BODY - BECAUSE OF THE CONFIDENTIAL NATURE OF DONOR INFORMATION, THE ACADEMY HAS CHOSEN NOT TO SHARE THE NAMES AND ADDRESSES OF DONORS LISTED ON SCHEDULE B WITH THE FINANCE COMMITTEE AND BOARD. THEREFORE, THE ACADEMY PROVIDED A COPY OF FORM 990 TO THE FINANCE COMMITTEE AND BOARD BUT REDACTED DONOR INFORMATION FROM SCHEDULE B. AS SUCH, WE ARE REQUIRED TO ANSWER "NO" TO THE QUESTION ON LINE 11A OF PART VI EVEN THOUGH THE BOARD WAS GIVEN FORM 990 BEFORE IT WAS FILED. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCEMENT OF CONFLICT POLICY - THE COMMITTEE ON DIRECTORS REVIEWS COMPLIANCE WITH THE ACADEMY'S CONFLICT POLICY. WHEN A CONFLICT ARISES, THE EFFECTED PERSON IS NOT PERMITTED TO PARTICIPATE IN THE DISCUSSION OF THE TRANSACTION OR TO VOTE ON THE MATTER. THE DECISION TO ACCEPT OR REJECT THE PROPOSED TRANSACTION IS MADE BY PERSONS WHO ARE INDEPENDENT OF THE INDIVIDUAL WITH THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION DETERMINATION - AN ANNUAL SALARY COMPARISON IS DONE FOR FACULTY AND STAFF BASED ON INFORMATION ACQUIRED FROM NAIS AND OAIS SURVEY DATA. THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE DATA AND APPROVES ANY SALARY INCREASES. THE PERSONS MAKING DECISIONS ABOUT COMPENSATION ARE INDEPENDENT OF THE EMPLOYEES FOR WHOM THE COMPENSATION IS BEING DETERMINED. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS - THE ACADEMY MAKES ITS FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND GOVERNING DOCUMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP 263,058.