2021-02-01T08:51:42-06:00 2020-06-30 390859910 BAKER TILLY US LLP 2000 TOWN CENTER STE 900 SOUTHFIELD MI 48075 990 2019-07-01 364520742 LOYOLA HIGH SCHOOL FOUNDATION LOYO 3138612407 15325 PINEHURST DETROIT MI 48238 DAVID R SMITH PRESIDENT 3138612407 2021-01-28 1 TROY E MARINE CPA P00187863 2483727300 2021-01-18 2019 2022-09-23 18:48:47Z DAVID R SMITH 15325 PINEHURST DETROIT MI 48238 286415 0 X WWW.LOYOLAHSDETROIT.ORG X 2003 MI TO ESTABLISH AND MANAGE ENDOWMENTS TO SUPPORT THE OPERATIONS OF LOYOLA HIGH SCHOOL. 6 6 0 5 0 0 20370 158835 0 0 312267 127580 0 0 332637 286415 268167 253000 0 0 0 0 0 0 0 7637 59305 275804 312305 56833 -25890 5358425 5256318 0 0 5358425 5256318 X LOYOLA HIGH SCHOOL FOUNDATION, A MICHIGAN NONPROFIT CORPORATION (THE "FOUNDATION"), IS A NONPROFIT ORGANIZATION WHICH WAS ORGANIZED EXCLUSIVELY FOR THE PURPOSE OF RECEIVING, INVESTING AND ADMINISTERING CHARITABLE CONTRIBUTIONS FOR THE BENEFIT OF LOYOLA HIGH SCHOOL. THE FOUNDATION SHARES COMMON TRUSTEES WITH THE SCHOOL. 0 0 253000 253000 GRANTS TO LOYOLA HIGH SCHOOL TO SUPPORT OPERATIONS. 253000 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MI X DAVID R SMITH 3138612407 15325 PINEHURST DETROIT MI 48238 DAVID R SMITH DIRECTOR (AS OF 7/1/2019) 1.00 X 0 76264 0 CATHY ROZANSKI MCNAMARA DIRECTOR 1.00 X 0 0 0 WILLIAM CONNELLY DIRECTOR 1.00 X 0 0 0 J MICHAEL BERNARD DIRECTOR 1.00 X 0 0 0 ANN THOMAS BATTERSBY DIRECTOR 1.00 X 0 0 0 FR WILLIAM MURPHY SJ DIRECTOR 1.00 X 0 0 0 0 76264 0 0 0 0 0 0 158835 158835 115911 115911 11669 0 11669 11669 11669 286415 0 0 127580 253000 253000 59305 59305 312305 253000 59305 0 1172 1171 85370 244205 5234127 4973630 37756 37312 5358425 5256318 0 0 X 58594 130625 5299831 5125693 5358425 5256318 5358425 5256318 X -25890 -75773 -444 X X 0 1 X 1 0 X X 1 LOYOLA HIGH SCHOOL 383107318 1 1 253000 0 1 253000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5319497 158835 30986 253000 5256318 5601520 20370 189607 492000 5319497 4097465 1282742 221313 5601520 3913788 388677 205000 4097465 4159052 -41139 204125 3913788 1.00000 1 0 0 X PART V, LINE 4: THE ENDOWMENT FUNDS ARE HELD FOR THE SUPPORT AND MAINTENANCE OF LOYOLA HIGH SCHOOL. SCH D, PART V: THE AMOUNT LISTED FOR INVESTMENT EARNINGS OR LOSSES INCLUDES -$7,941 FOR CURRENT YEAR UNREALIZED LOSSES AND AN ADJUSTMENT OF $38,927 TO CATCH-UP TO THE ACTUAL ENDING BALANCE OF THE ENDOWMENT FUND. PART X, LINE 2: THE SCHOOL AND LWEP HAVE RECEIVED NOTIFICATION THAT THEY ARE INCLUDED IN THE OFFICIAL CATHOLIC DIRECTORY AND THEREFORE THEY QUALIFY AS TAX-EXEMPT ORGANIZATIONS UNDER SECTION 501 (C)(3) OF THE U.S. INTERNAL REVENUE CODE AND CORRESPONDING PROVISIONS OF STATE LAW AND, ACCORDINGLY, ARE NOT SUBJECT TO FEDERAL OR STATE INCOME TAXES ON RELATED ACTIVITIES. THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION IS ALSO EXEMPT FROM STATE INCOME TAXES. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT AS OF JUNE 30, 2020 AND 2019, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. 0 LOYOLA HIGH SCHOOL 15325 PINEHURST DETROIT MI 48238 383107318 501(C)(3) 253000 TO SUPPORT THE OPERATIONS OF LOYOLA HIGH SCHOOL 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE RETURN IS REVIEWED BY THE OFFICERS OF THE ORGANIZATION PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BUSINESS MANAGER AND PRESIDENT PERFORM REGULAR REVIEWS AND CONDUCT INTERVIEWS WITH ACADEMIC, ADMINISTRATIVE, AND OTHER STAFF. BOARD MEMBERS COMPLETED A SIGNED DISCLOSURE OF CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE HEAD OF SCHOOL IS PAID FROM A RELATED ORGANIZATION, LOYOLA HIGH SCHOOL DETROIT. COMPENSATION IS DETERMINED AFTER CONSIDERING A NUMBER OF FACTORS INCLUDING THE LEVEL OF RESPONSIBILITY. ADDITIONALLY, COMPARABLE SALARY LEVELS AT SIMILAR ORGANIZATIONS ARE CONSIDERED, RECOGNIZING DIFFERENCES IN JOB COMPLEXITY, CRITICAL SKILLS AND PAY PRACTICES. TREASURER AND FINANCE COMMITTEE APPROVE COMPENSATION AS PART OF THE ANNUAL BUDGET PROCESS. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST -444. FORM 990, PART XII, LINE 2C: THE ORGANIZATION DID NOT CHANGE EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR ENDED JUNE 30, 2020. LOYOLA HIGH SCHOOL 15325 PINEHURST DETROIT MI 48238 383107318 HIGH SCHOOL MI 501(C)(3) LINE 1 N/A 0 LOYOLA WORK EDUCATION FOUNDATION 15325 PINEHURST DETROIT MI 48238 300219392 WORK EXPERIENCE EDUCATION MI 501(C)(3) LINE 1 LOYOLA HIGH SCHOOL 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 LOYOLA HIGH SCHOOL B 253000 CASH BASIS