2021-06-10T14:15:07-05:00 2020-07-31 410746749 CLIFTONLARSONALLEN LLP 801 CHERRY ST SUITE 1400 FORT WORTH TX 76102 990 2019-08-01 810661502 THE NEW KEY SCHOOL INC NEWK 8174463738 3947 EAST LOOP 820 SOUTH FORT WORTH TX 761194338 CARLA BROWN EXECUTIVE DIRECTOR 8174463738 2021-06-09 1 MICHAELA J CROMAR CPA P00895728 8178775000 2021-06-09 2019 2022-09-23 18:48:47Z CARLA BROWN 3947 EAST LOOP 820 SOUTH FORT WORTH TX 761194338 5426114 0 X WWW.KEYSCHOOLFTWORTH.ORG X 2004 TX OVERCOMING LEARNING DIFFERENCES TO CREATE INDIVIDUALIZED EDUCATIONAL SUCCESS. 8 8 69 40 0 0 5355368 3726793 1726381 1667504 14843 -498174 -6024 -3550 7090568 4892573 60000 86000 0 0 1692033 1797201 163400 25800 215389 676402 712413 2591835 2621414 4498733 2271159 7384507 10141914 674706 1160954 6709801 8980960 X NEW KEY SCHOOL IS A FULLY ACCREDITED SPECIAL PURPOSE PRIVATE SCHOOL WHICH EDUCATES STUDENTS WITH SPECIAL LEARNING NEEDS. THE SCHOOL OPERATES A REGULAR NINE MONTH SCHOOL AND A SUMMER PROGRAM. 1 1 2057544 86000 1653054 THE TYPICAL KEY SCHOOL STUDENT IS OF AVERAGE OR ABOVE AVERAGE INTELLIGENCE AND SUFFERS FROM ONE OR MORE LEARNING DIFFERENCES. KEY SCHOOL'S NINE MONTH TERM IS A FULL, RIGOROUS ACADEMIC PROGRAM WITH AN EMPHASIS ON INDIVIDUAL PROGRESSION. OUR AVERAGE 4:1 STUDENT/TEACHER RATIO GIVES OUR STUDENTS THE EDUCATIONAL ADVANTAGE NEEDED TO REACH, AND IN SOME CASES EXCEED, THEIR ACADEMIC GOALS. OUR SUMMER PROGRAM IS DESIGNED FOR STUDENTS ENTERING GRADES KINDERGARTEN - 12 WHO STRUGGLE IN SCHOOL OR THOSE WHO NEED BENEFIT OF GETTING AN ACADEMIC BOOST FROM THE COMING SCHOOL YEAR. 38047 14450 THE KEY SCHOOL ACADEMIC LANGUAGE THERAPY (KSALT) PROGRAM OFFERS IN-DEPTH MULTI-SENSORY STRUCTURED TRAINING FOR INDIVIDUALS INTERESTED IN WORKING WITH CHILDREN OR ADULTS HAVING DYSLEXIA OR RELATED DISORDERS. 2095591 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 1 1 0 0 0 0 1 1 0 0 0 1 0 0 0 0 1 1 1 0 0 1 0 0 0 0 0 0 0 0 1 4 0 69 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 X RANDY PURVIS 8174463738 3947 EAST LOOP 820 SOUTH FORT WORTH TX 761194338 KERRI BENSON EXECUTIVE DIRECTOR 60.00 X 116396 0 689 MELISSA DAVIS PRESIDENT 20.00 X X 0 0 0 MARK ROBERTS SECRETARY/TREASURER 1.00 X X 0 0 0 KATIE ROBERTS CHAIR OF GOVERNANCE COMMIT 1.00 X X 0 0 0 BETH LAMB CHAIR OF DEVELOPMENT COMMI 1.00 X X 0 0 0 ELIZABETH MCWHERTER DIRECTOR 1.00 X 0 0 0 RACHEL FIKSE DIRECTOR 1.00 X 0 0 0 FANTASY REYNOLDS DIRECTOR 1.00 X 0 0 0 SAM SMART DIRECTOR 1.00 X 0 0 0 TEASHA-LEE A FRATTARELLI DIRECTOR 1.00 X 0 0 0 116396 0 689 1 0 0 0 0 33435 3693358 140955 3726793 TUITION 611600 1500718 1500718 BOOKS, MEALS & FEES 611710 152336 152336 KSALT 611600 14450 14450 1667504 17027 17027 515201 -515201 -515201 -515201 12290 33435 18340 -6050 -6050 MISCELLANEOUS INCOME 900099 2500 2500 2500 4892573 1667504 0 -501724 86000 86000 111522 11152 50185 50185 1536343 1313301 137871 85171 1198 959 139 100 9360 7973 857 530 138778 111063 16120 11595 33095 33095 25800 25800 42316 40082 2234 15293 15293 50395 35459 9844 5092 132537 103490 29047 162556 154428 5043 3085 4253 166 3007 1080 3836 2302 1534 7356 487 6869 19236 16351 2693 192 STRATEGIC PLANNING 60000 60000 CLASSROOM MATERIALS 58820 58820 KSALT EXPENSES 38047 38047 STUDENT ACTIVITIES 31061 31061 53612 24450 11896 17266 2621414 2095591 310434 215389 1260296 1160950 2878557 5434909 984917 1251854 59805 134556 44438 35051 2053592 339286 1746206 1714306 410288 410288 7384507 10141914 70878 142620 406170 601031 156230 98503 41428 318800 674706 1160954 X 2792449 1784599 3917352 7196361 6709801 8980960 7384507 10141914 2271159 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3917352 3564827 86000 199818 7196361 799678 5181997 60000 2004323 3917352 207340 938132 106500 239294 799678 187195 160735 121855 18735 207340 367436 114050 66191 187195 1.00000 0 0 800000 800000 120711 52288 68423 264358 262771 1587 868523 24227 844296 1714306 X 4806573 0 4806573 86000 86000 4892573 2535414 0 2535414 86000 86000 2621414 PART V, LINE 4: TEMPORARILLY RESTRICTED FUNDS ARE LARGELY RESTRICTED FOR SCHOLARSHIPS, SPECIAL PROGRAMS, AND FOR THE CONSTRUCTION OF A NEW FACILITY. PART X, LINE 2: THE SCHOOL IS EXEMPT FROM FEDERAL INCOME TAXES UNDER PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND IS NOT CONSIDERED TO BE A PRIVATE FOUNDATION; ACCORDINGLY, NO PROVISION FOR FEDERAL INCOME TAXES IS INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE SCHOOL IS ALSO EXEMPT FROM STATE OF TEXAS FRANCHISE TAXES. THE SCHOOL BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AND, AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE SCHOOL DID NOT PAY OR INCUR ANY TAX RELATED PENALTIES OR INTEREST DURING THE YEAR ENDED JULY 31, 2020 AND 2019 PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSE 86,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID EXPENSE 86,000. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE NEW KEY SCHOOL INCLUDES ITS NON-DISCRIMINATORY POLICY ON ALL WRITTEN PUBLICATIONS AND BROCHURES, ALL FINANCIAL AID DOCUMENTS AND APPLICATION FORMS, AS WELL AS ON THE SCHOOL'S WEBSITE. X X X X X X 1 MISSION ADVANCEMENT PROFESSIONALS 7850 COLLIN MCKINNEY PARKWAY SUITE MCKINNEY TX 75070 CAPITAL CAMPAIGN CUNSULTANTS 0 0 25800 -25800 25800 -25800 TX GALA 34825 25681 9144 9356 CD LUNCHEON 7800 4654 3146 8895 42625 30335 12290 18251 18251 -5961 1 FINANICAL AID AND SCHOLARSHIPS 12 86000 PART I, LINE 2: ASSISTANCE PROVIDED AND SCHOLARSHIPS AWARDED REDUCE THE TUITION CHARGED THE STUDENT. MARY ANN KEY FOUNDER OF SCHOOL PURCHASE OF INTANGIBLE ASSETS X 377288 98503 0 1 1 98503 TRACY DAWN BOARD MEMBER 4500 FINANCIAL AID TUITION ASSISTANCE MELISSA DAVIS BOARD MEMBER 19300 TUITION 0 ZACH WALKER BOARD MEMBER 20200 TUITION 0 TRACY DAWN BOARD MEMBER 21000 TUITION 0 X 2 131811 FAIR MARKET VALUE X FUNDRAISING SUPPLIES 49 9144 FAIR MARKET VALUE 0 0 1 1 PART I, COLUMN (B): THE NUMBERS LISTED IN COLUMN B ARE THE NUMBER OF CONTRIBUTORS. PART I, LINE 32B: THE NEY KEY SCHOOL HIRED A THIRD PARTY TO FACILITATE THEIR ONLINE GALA THAT INCLUDED AN AUCTION. FORM 990, PART III, LINE 2 DURING THE FISCAL YEAR, THE NEW KEY SCHOOL, INC. STARTED THE KSALT PROGRAM TO EDUCATE THE COMMUNITY IN THE AREA OF LEARNING DIFFERENCES. FORM 990, PART III, LINE 3 THE PANDEMIC CAUSED THE KEY SCHOOL TO OPEN 1 MONTH LATER THAN IN PREVIOUS YEARS. THE IN PERSON STUDENT HEAD COUNT WAS ALSO SIGNIFICANTLY IMPACTED AND IN ORDER TO COMPENSATE FOR THE DROP, THE SCHOOL INSTITUTED AN ONLINE EDUCATIONAL OPPORTUNITY FOR THOSE NOT COMFORTABLE PHYSICALLY ATTENDING THE SCHOOL. THE SUMMER SCHOOL PROGRAM WAS SIGNIFICANTLY IMPACTED AS ATTENDANCE WAS ONLY 50% OF THE HISTORICAL PARTICIPATION. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 IS PRESENTED TO THE BOARD OF DIRECTORS AND SCHOOL DIRECTOR FOR REVIEW PRIOR TO FILING. AFTER APPROVAL, THE BOARD PASSES A MOTION TO ACCEPT THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE NEW KEY SCHOOL ADMINISTRATORS MONITOR ANY CIRCUMSTANCES WHICH WOULD BE CONSIDERED A CONFLICT OF INTEREST ACCORDING TO THE WRITTEN POLICY AND ENSURES THAT SUCH INSTANCES ARE REPORTED TO MEMBERS OF THE BOARD OF DIRECTORS. THIS POLICY COVERS ANY PERSON SERVING AS AN OFFICER, EMPLOYEE OR MEMBER OF THE BOARD OF DIRECTORS OF THE ORGANIZATION. ANY MEMBER WITH A CONFLICT OF INTEREST MUST DISCLOSE ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST TO THE BOARD OF DIRECTORS, AND SUCH DISCLOSURES SHALL BE REFLECTED IN THE MINUTES OF THE MEETING. ANY PERSON WITH A CONFLICT OF INTEREST SHALL NOT PARTICIPATE IN OR HEAR THE BOARD OR COMMITTEE'S DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. THIS PERSON SHALL NOT VOTE ON THE MATTER AND SHALL NOT BE PRESENT WHEN THE VOTE IS TAKEN. EACH RESPONSIBLE PERSON SHALL ANNUALLY COMPLETE A DISCLOSURE FORM IDENTIFYING ANY RELATIONSHIPS, POSITIONS OR CIRCUMSTANCES IN WHICH THE RESPONSIBLE PERSON IS INVOLVED THAT HE OR SHE BELIEVES COULD CONTRIBUTE TO A CONFLICT OF INTEREST ARISING. THIS POLICY SHALL BE REVIEWED ANNUALLY BY EACH MEMBER OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 A SALARY REVIEW IS CONDUCTED THAT COMPARES PAY RATES AND SCALES FOR SIMILAR POSITIONS AT BOTH A LOCAL AND NATIONAL LEVEL. PAY RATES ARE ESTABLISHED COMPARABLE TO OTHER SCHOOL LEADERS. KEY EMPLOYEE PAY SCALES ARE PERIODICALLY COMPARED TO THOSE OF OTHER LOCAL EDUCATIONAL AGENCIES AND ARE EITHER EQUIVALENT OR LESS THAN THE RATES PAID BY OTHER SCHOOLS. A SALARY REVIEW WAS LAST CONDUCTED IN 2017 BY THE FINANCE COMMITTEE AND THE SALARY TASK FORCE COMMITTEE. RECOMMENDATIONS FROM THE COMMITTEES ARE PRESENTED TO THE BOARD FOR APPROVAL AND ARE DOCUMENTED IN THE MEETING'S MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL PROVIDES SUCH DOCUMENTATION TO POTENTIAL DONORS, CONTRIBUTORS AND OTHERS UPON REQUEST.